The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
1411e.
oninurcial
Bank & Quotation Section
Railway Earnings Section
Fin1tt1.t
li-rentrie
INCLUDING
Railway & Industrial Section
Bankers' Convention Section
Electric Railway Section
State and City Section
NO. 2457
SATURDAY, JULY 27 1912
VOL. 95
The
Thronicle.
PUBLISHED WEEKLY.
Week ending July 20.
Clearings at
1912.
1911.
Inc. or
Dec.
1910.
Terms of Subscription-Payable in Advance
ilticago
+1.2 265,232,356
291,087,513 287,662,061
$10 00
For One Year
24,048,350
Cincinnati
29,159,450
22,606,650 +29.0
6 00
21,980,029
Cleveland
For Six Months
24,550,638
20,550,652 +19.5
00
13
postage)
Detroit
European Subscription (including
18,474,787
19,458,602 +15.9
22,544,992
7 50
11,840,001
Milwaukee
European Subscription six months(including postage)
14,465,373
12,719,683 +13.7
22 14s. Indianapolis _
9,659,742 -3,5
9,325,691
9,887,808
Annual Subscription in London (including p, stage)
s.
11
21
postage)
(including
Columbus
5,950,700
0,554,000
6,682,900 -10.9
Six Months Subscription in London
$11 50
5,758,169
4,106,861
Toledo
Canadian Subscription (including postage)
5,223,383 +10.2
2,529,696
Peoria
3,039,013 -1.3
2,999.910
Subscription includes following Supplements2,690,314
3,007,253 +19.7
Grand Rapids...
3,600,000
2,454,0(8
2,970,052 -9.8
2,685,243
BANH AND QUOTATION (monthly) RAILWAY AND INDUSTRIAL(3 times yearly) Evansville
yearly)
tunes
(3
ELECTRIC
RAILWAY
2,460,0(3
2,467,101 -3.0
RAILWAY EAR•INGS(monthly)
Dayton
2,392,473
662,548
STATE AND CITY(semi-annually) BANKERS'CONVENTION (yearly)
686,531 +4.5
717,276
Kalamazoo
936,135
987,230
1,116,375 -11 6
Springfield, Ill
Space
Inch
Terms of Advertising-Per
966,093
985,617 +6 4
1,612,167
Fort Wayne_
858,474
20
_
1,388,339
$4
+47.2
2,043,252
Youngstown
Transient matter per inch space(14 agate lines)
1,122:000
22 00 Akron
1,567,060 +59.7
2,503,000
(s times)
Two Months
737,6,0
701,851 +16.2
29 00 11,3ckford
815,281
(13 times)
Months
Three
Standing Business Cards
666,065
50 00 Lexington
865,460 -11.1
769,406
(26 times)
Six Months
499,642
87 00 Quincy
578,900 +3.8
601,157
t. Twelve Months(52 times)
517,779
033,0'15 +21.9
649,812
CiiicAa0 0ITFICIC-C1100. M.Shepherd,513 Monadnock Block;Te1.1Iarrison 4012. Bloomington.985,033
1,033,5)1 +27.1
1,313,746
canton
C.
E.
Gardens,
1
Drapers'
Smith,
LONDON OFF1cK-Edwards &
430,054
523.6L1 -13.2
454,695
Decatur
423,247
462,969
430.174 +7.6
Mansfield
WILLIAM B. DANA COMPANY, Publishers,
491,789
570,560 +3.5
590,737
South Bend
New York.
P.0. flox 958. Front. Pine and Depeyster Sts.,
400,000
519,835 +20.1
660.2.6
Jackson
849,103
688,257 --8.7
608,672
Springfield,
377,129
438,134 ---0.9
434,259
Published every Saturday morning by WILLIAM B. DANA COMPANY, Lima
370,653
447.494 -12.4
391,92s
Jacob Seibert Jr.. President and Treas.; George S. Dana and Arnold G. Dana, Danville
399,753
421,440 +3.8
437,289
Vice-Presidents; Arnold G.Dana, See. Addresses of all, Office of the Company. Owensboro
300,000
342,254 +58.6
542,664
Lansing
217,287
385,506 -33.4
256,960
Jacksonville, Ill_
166,270
180,490 +0.8
181,953
Ann Arbor
CLEARING-HOUSE RETURNS.
60.056
34,891 +37.4
47,926
Adrian
The following table, made up by telegraph, &o., indicates that the
+5.1 384,695,003
410,522,457
Tot.
431,622,810
Mid.
West.
total bank clearings of all clearing houses of the United States for week
43,805,547
ending July 27 have been $2,849,845,107, against $3,089,023,058 last San Francisco..
45,904,821 +13.3
52,014,509
14,730,150
week and 62,912,775,090 the corresponding week last year.
22,955.730
Los Angeles
18,669,961 +23.0
11,553,419
10,595,468
Seattle
9.167,174 +15.6
11,484,194
11,589,566
Per
Portland
9,968,739 +16.3
Clearings-Returns by Telegraph.
5,718,614
6,575,981
7,095,197 -7.3
Salt Lake City
1911.
Cent.
1912.
Week eruiing July 27.
4,221,988
4,126,581
3,906,614 +5.6
Spokane
5,648,111
+4.5
3,911,111
4,088,275
Tacoma
-8.8
$1,415,637,018
$1,291,580,996
York
New
2,954,624
3,361,015
3,339,491 +0.7
+11.3 Oakland
114,023,321
126,891,212
•
Boston
1,240,000
9,432,956
1,500,000 +62.2
+5.4 San Diego
100,603,593
112,387,512
Philadelphia
1,300,485
+17.9
1,460,198
+4.3
1,722,723
Sacramento
25,518,044
26,017,283
Baltimore
595,095
+8.5
760,573
825,358
-5.3
Pasadena
234,831,151
222,454,550
Chicago
676,739
+1.5 Stocgton
684,355 +35.3
926,774
54,460,282
55,267,890
St. Louis
590,404
+55.6
949,424
+2.7
610,000
Fresno
13,074,443
13,433,455
New Orleans
503,686
485,470 +31.2
636,934
San Jose
438,521
-5.9 North Yakima
343,415 +1.9
350,000
$1,848,632,898 $1,964,174,452
Seven cities, 5 days
280.000
+3.8
+10.9
270,000
260,000
Reno
459,468,417
509,748,962
Other cities. 5 days
Total Pacific_ _ 123,421,294 108,067,119 +14.2 105,741,578
-2.7
$2,358,381,860 $2,423,642,869
Total all cities, 5 days
45,903,341
48,389.351
47,590,238 +1.7
-1.0 Kansas City_ _
489,132,227
481,463,247
All cities, 1 day
18,300,904
19,079,929
16,738,195 +14.0
Minneapolis
14,772,828
15,703,649
14,021,400 +12.0
_..9 9
Omaha
S2.849.845.107 C2019 77A non
Totni i111 pithq for wc•pk
12,356,512
11,357,424 -11.6
10,039,537
St. Paul
9,417,439
8,705,446 -2.7
8,472,347
The full details for the week covered by the above will be given next Denver
+9.9
5,897,287
being
clearings
the
up
made
6,094,963
6,699,0;8
by
Joseph
to-day,
St.
them
furnish
cannot
We
Saturday.
+12.7
3,288,867
the
above
last
day
of
the
in
3,755,075
hence
4,231,061
Des
and
Moines
clearing houses at noon on Saturday,
2,382,254
2,103,674 +23.9
2,605,444
Sioux City
the week has to be in all cases estimated, as we go to press Friday night.
3,520,409
3,550.176 +0.3
3,560,004
We present below detailed figures for the week ending with Saturday Wichita
3,540,840
•
+7.1
3,101,170
2,895,972
Duluth
noon, July 20, for four years.
1,439,916
1,556,562 +7.5
1,673,671
Lincoln
1,302,168
1,423,758 +9.6
1,560,105
Topeka
1,654,408
1,646,280 -10.1
1,390,000
Davenport
Week ending July 20.
687,396
-0.1
675,012
674,149
Colorado
Springs
at
Clearings
1,100,000
-27.5
Cedar
1,496,217
1,085,243
Rapids..
Inc. or
505,447
1909.
Pueblo
742,685
058,670 +12.7
1910.
1911. -• Dec.
1912.
724,370
Fargo
370,982
690,826 -46.4
979,859
+51.9
Waterloo
$
1,086,201
1,650,000
$
•$
$
%
738,676
1,211,212
949,523 +27.6
1,604,983,208 1,741,022,959 -2.6 1,519,172,461 1,891,913,570 Helena
New York
430,745
304,748
299,997 +1.6
Philadelphia ____ 161,649,055 161,253,815 +0.2 137,641,554 120,001,121 Aberdeen
280,734
46,985,689 Fremont
252,767
387,187 -34.7
52,881,827
49,431,144 +11.0
51,878,403
Pittsburgh
26,434,345 Hastings
167,421
170,000
157,419 +6.4
28,002,575
34,962,243
40,575,292 -13.8
Baltimore
230.000
8,414,943 Billings
303.249
112,242 +170.2
10,011,380
11,44:3,854
9,543,434 +19.9
Buffalo
5,374,388
5,686,236
6,824,099
6,070,638 +12.3
Albany
oth. West. 133,267,802 127,852,460 +4.2 129,789,400
Tot.
0,178,886
0,046,661
7,049,685
6,837,969 +3.1
Washington ._ _ _
3,284,608
4,460,002
4,503,659 -0.2
4,492,932
Rochester
71,243,427
72,281,558 +2.6
74,181,460
2,380,493 St. Louis
2,301,437
2,444,929
2,551,701 -9.8
Scranton .....
17,041,015
17,474,834 +0.9
17,633,698
2,464,849 New Orleans_
2,429,218 +14.4
2,780,876
2,302,862
Syracuse
10,858,864
13,529,937 -8.2
12,425,221
_
Louisville j
1,746,634 +6.1
1,852,775
1,513,298
1,667.186 Houston
Wheeling
9,319,327
10,524,051 +54.5
16,258,105
1,401,220
1,691,575
1,381,617
1,418,978 +19.2
Reading
5,021.000
6,000,000 +16.7
7,000,000
Galveston
1,256,190
1,072,948
+13.4
1,897,589
1,558,962
Wilmington
6,437,104
+11.7
7,369,499
8,229,511
Rich
nond
1,250,172
1,375,409
1,428,910 +7.2
1,531,595
Wilkes-Barre
4,896,362
+18.4
4,880,300
5,780,237
Fort
Worth
1,590,641
1,432,744 +8.7
1,557,223
1,640,513
Trenton
3,910,916
5,264,834 +50.6
7,928.650
800,018 Mempnis
+5.8
940,211
891,413
094,805
York
7,827,792
9,194,489 +12.9
10,379,684
647,031 Atlanta
905,047 +1:3.7
800,799
1,029,208
33)40,588
Erie
4,538,631
4,435,106 +2.3
Nashville
902,136
+47.6
773,313
1,331,024
470.5,990
Lancaster
3,781,648 -0.9
3,748.814
Savannah
324,550
527,500 +16.2
479,100
613,100
3,121,973
Binghamton __.2,940,244 +11.7
3,383,600
414,5:37
533,373 +17.6
278,883 Norfolk
627,235
2,381,024
Gi*eensburg
2,180.065 +14.1
2,488,364
497,139 +58.8
419,521 Birmingham _ _ _
480,713
787,091
1,452,62'
1,665,103 +16.5
Chester
1,940,768
Knoxville
525,160 +21.7
386,093
503,307
639,358
2,101,127
2,574,334 +32.1
Altoona
3,400,000
Jacksonville
1,694,933
1,792,605 +19.1
2,135,459
Chattanooga
-2.0
2,030,756,615
2,123,464,707
1,780,759,498
1,272,988
Total Middle.. 1,995,918,460
1,298,718 +4.0
1,350,000
Mobile
+16.6
1,185,347
1,388,408
1,619,241
Augusta
181,245,403 101,618,815 +12.1 153,570,257 144,948,077 Charleston
1,444,942
1,335,654 +12.9
Boston
1,507,227
+5.6
0,515,900
7,727,800
7,736,600
8,170,000
1,804,748 -15.2
Providence
2,407,995
1.530,482
Oklahoma
3,313,842
4,059,282
4,342,744 +12.5
4,881,586
1,869,126 -7.4
Hartford
1,428,371
1,731,526
Little Rock
+0.7
2,514,986
2,803,089
3,450,902
3,473,761
690,000
New Haven
2,500,471 +13.1
2,827,214
2,294,127 • 2,000,000 Macon
2,092,268 +14.7
2,400,000
538,972
Springfield
900,000
944,725
+5.0
1,978,798 Austin
2,056,397
1,743,529 +3.4
2,343,039
221,417
Portland
203,685
175,947 +15.8
Vicksburg
1,605,618
2,197,355
+18.2
2,414,061
2,853,596
402,896
Worcester
600,000
+20.0
500,000
C
N.
Wilmington,
871,356
918,301
941,069 +1.0
059,143
410,511
Fail River
376,326
282,418
+33.3
904,223
954,897 Jackson
1,025,375 +15.3
1,181,894
New Bedford.-859,600
629,155 +20.7
556,948
536,517 Tulsa
+5.5
556,006
586.421
Lowell
604,175
480.697 -I-25.8
423,236
344,788 Muskogee
622,828 ' 591,317 +5.3
Holyoke
17' 0i1.051
-I-9 2 165.237,039
195.606..03
Southern
Total
-16.1
555,108
465,618
...
Bangor
2..Qr...
, I t •
3.089.073 058
Total all
Tot. New Eng. 209.186.289 187.068.484 -1-11.8 177.464.070 165.631.784
.6 1.224.514,121
•-17
Outside N. Y. .394,039.760 1.308.298,177 -7
.Vole.-For Canadian clearings see "Commercial and Miscellaneous News."
1909.
254,813,867
25,796,350
18,694,689
13,438,920
10,553,163
7,794,366
6,536,300
4,147,221
2,135,221
2,174,992
2,887,852
1,918,297
534,350
987,855
884,166
808,794
795,000
668,320
579,655
475,000
368,263
616,280
429,829
335,966
487,478
355,919
537,813
330,390
353,095
248,854
125,578
16,681
360,830,124
35,701,565
13,127,375
12,239,725
6,219,785
6,034,190
2,971,821
5,710,393
1,699,803
915,000
1,068,788
588,707
497,858
371,206
314,339
255,000
87,715,556
42,205,839
14,807,281
13,178,948
9,107,246
8,245,707
4,687,707
3,195,691
2,404,889
2,943,843
2,874,966
1,286,719
1,328,757
1,087,564
651,149
828,788
590,931
580,110
836,043
251,633
233,004
111,326,815
62,016,585
14,897,462
10,671,970
10,436,329
4,876,000
0,736,254
5,270,720 .
3,842,046
5,469,552
3,325,000
2,795,187
2,585,166
1,688,445
1,545,172
1,566,852
1,218,684
1,178,612
1,333,308
1,070,000
1,800,000
1,408,813
740,000
439,467
758,211
302,601
309,000
1 47 41A1.436
.114.30S
1.104.201,70
196
THE CHRONICLE
[VOL. Lxxxxv.
aggrieved by the action or doings of combinations shall
THE FINANCIAL SITUATION.
have the right to begin suits independent of the GovThe Stanley Steel Committee, after much travail ernment
, and shall also be privileged to intervene in
and labor, has brought forth a mouse, and the pesky any proceed
ings instituted by the same. If safeguards
creature has such a malicious look that business circles
were provided against its abuse, this is a provision
have been considerably disturbed this week as a result.
which would appeal to one's sense of justice, since it
If there were the least likelihood that the Committee's
does not seem right to leave the ordinary citizen
recommendation were to be enacted into law, there without
redresa except at the instance of political ofwould, indeed, be occasion for deep anxiety. As it is,
ficials who may or may not act in accordance with a
there appears not the remotest chance of any legislahigh sense of duty. Taking this proviso, however,
tion amending the Anti-Trust Law before the 4th of
in connection with the other amendments proposed,
next March, and even after that date long delay is
it would be conferring a most dangerous power, it
certain, though the executive and legislative branches
seems to us, upon unscrupulous persons. What a
should be of the same political complexion. That is
fine opportunity, for example, it would furnish for
so because of the inherent complexity of the problem,
stock-jobbing suits to influence the stock market, and
the multiplicity of remedies proposed 'and the wide
how completely it would place every large corporation
divergence of views prevailing even among men of the
at the mercy of its enemies or those wishing to thrive
same party faith.
at its expense. With the burden of proof on the defendThis divergence of views is well illustrated in the
ant, how easy it would be for an unsuccessful and vincase of the Steel Committee itself. There is no unadictive rival to get a complete disclosure of the businimity of opinion and several separate reports or
ness secrets of the corporation attacked. In a court
statements are to be handed in by different members
of law and with a presumption of guilt against it deof the Committee. What has excited chief comment
clared by the statute, the helpless corporation would
and apprehension is the recommendations of the Demo- have
no alternative but to place on record a complete
cratic majority of the Committee, but there is no schedul
e and account of all its operations and transacabsolute concurrence of views even here; Congressman
tions. The complaining rival might then be defeated
Martin W. Littleton, it appears, is to join in the genin his suit at law, but he would have gained the very
eral report, but submits independent recommendathing he was after in getting a complete insight into
tions of his own. As for the Republican minority, it
the business of his larger competitor.
seems to be hopelessly divided. From the accounts
Still another preposterous proposal is that in any
in the daily newspapers there will probably be five
case where restraint of trade is charged, a presumption
reports from the various factions in the majority
.of unreasonableness is to follow if control of more
and minority membership of the Committee. The than
30% of the product or sales is shown. This proCommittee consists of nine members. The Demoposal has absolutely nothing to recommend it. We
crats will file two statements—Mr. Littleton standing
do not want to be understood as expressing,in advance,
firm against the radical changes proposed by the maendorsement of Mr. Littleton's separate and distinct
jority—and the Republicans three statements. It
scheme under which a board is to be created for the
might be added that the same divergence of views
purpose of granting permission to engage in inter-State
appears among men in public and private life nearly
business, but Mr. Littleton is undoubtedly taking the
everywhere, which shows the intricate nature of the
correct view when he disposes of the proposal to limit
questions at issue.
output by saying: "If a concern admitted to the field
As to the recommendations for new legislation proof inter-State commerce should obey the rules and laws
posed by the majority, they are drastic in the extreme
provided for its government in that field and should
and could not fail to prove highly disturbing if enacted
by skill, efficiency and energy grow to enormous size
into law. It is proposed to amend the Anti-Trust law
and earn rich rewards, I would count these rewards- as
so as to shift the burden of proof from the plaintiff to
the fruits of that industry, the harvest of energy and
the defendant. In other words, it is proposed to add
genius, and the crowning triumph of a civilization
to the Sherman Act a section or provision saying
resting upon the doctrine of individualism."
that "whenever in any suit it shall appear that any
One encouraging feature in connection with the
combination was entered into, existed or exists, which Stanley
reports or statements should not escape notice.
was or is in restraint of trade, the burden of proof to
We mean that sentiment is shown to be overwhelmestablish the reasonableness of such restraint shall be
ingly against Government price regulation. The
upon -the party who contends that such restraint is
Democratic members express very strong disapproval
reasonable." Not only that, but by another section
of the control of corporations by the Federal Governit is to be provided that "whenever in any suit it shall
ment as recommended by Mr. Carnegie, Judge Gary
appear that any combination was entered into, exand others. It is declared that whatever the evils,
isted or exists, which was, or is, in restraint of trade,
they do-not justify such a remedy, and could not be
such restraint shall be conclusively deemed to have
cured by it. Such proposals are also characterized as
been and to be unreasonable, and in violation of the
semi-Socialistic in their nature. and beyond the power
provisions of this Act as to any party thereto who is
vested by the Constitution in the Federal Government.
carrying on any business to which such combination
This is what the five Democratic members say. In
relates or in connection therewith." Thus there is
addition, two of the minority members also appear to
to be a presumption of guilt. That is, instead
dissent from the idea of Government control and
of the accused party being considered innocent
regulation of prices, namely Congressman Young of
until he is proved guilty, lie is to be adjudged guilty
Michiga
n and Congressman Sterling of Illinois. There
unless he can incontrovertibly establish his innocertainly comfort in the thought that seven of the
is
cence. In our estimation, any such proposal does vionine members of the Committee are sound on this imlence to the ordinary rules of morality and fair
portant point, and resolutely oppose Government
dealing.
meddling in business to the extent of fixing prices.
Another suggestion is that any party who may feel
THE CHRONICLE
JULY 27 1912 1
The "Railway World" of Philadelphia recently had
an article by Mr. Edward Sherwood Meade, Ph.D.,
giving results of an investigation made by him of
fraudulent practices by a minority of shippers by
which they habitually defraud the railroads through
purposely misstating the character of their shipments
and even by misstating their weight. All freight is
roughly divided into "class" and "commodity." The
latter consists of bulky material, such as lumber,grain,
coal, &c.; these usually go in carload lots, each has its
own specific rate, each is readily recognized and classified, and therefore there is no opportunity for sharp
practice concerning them. The "class" freight covers
the innumerable other articles, and rates on them take
into account many facts, such as value, season,
manner of packing, perishability, risk of handling, &c-:
By marking and billing packed articles otherwik than
what they are, the shipper may and does get them into
a lower-class rating. A list of some forty articles
thus treated is given, the commonest trick being to
put many different things composed more or less of
metal under the general designation of "hardware,"
whereby they pay as third-class instead of first-class
goods. Similarly, a list is given of certain quantities
of pipe, lumber, rags, clothing, &c., with the weights
as stated by the shippers and as found by the carriers;
a list of 29 miscellaneous shipments, taken from the
companies' records, showed the total actual weight to
be 116,581 lbs., but the total weights reported was
85,558 lbs.
Almost universally, freight goes f.o.b., the consignee paying the bill, and the fraudulent practices
are by collusion between him and the shipper. It is
his obvious interest, as a trader with competition to
meet, to get the lowest rate for his customer. The
latter is well aware of the possible tricks, and is often
unscrupulous in teaching them'to the shipper and even
in putting a pressure on him, under threats of taking
his trade to some more compliant party; "these threats
are often carried into effect, and when the shipper
finds that he is losing business, he begins to ship his
goods under wrong descriptions in order to recover
his trade." A witness in an investigation said that
his own house is nearly a century old and has "never
yielded to the customers' plea to misdescribe our
goods, but we find our trade is slipping away from us,
we are losing business, and we are obliged to do it."
Very significant is a letter from an electric-supply
dealer to a customer:
"Yours was the only shipment that went forward
with scrap porcelain used in the tops of the barrels.
* You understand that the purpose of
this is to get the goods past the freight inspectors as
porcelain insulators. We have been having considerable trouble lately by having the freight rate raised
after reaching certain points, but since we have been
using insulators in each shipment this trouble has
been overcome entirely. If you will be kind enough
to favor us with a small order of No. 53 insulators or
some regulation size that you might use, in connection
with your orders in the future, we can guarantee you
the minimum freight rate."
This trick was the reverse of what is known as
"deaconing" barrels of fruit, for the shipment consisted of electric plugs and a few inches at the top of
the barrel were insulators, the entire contents being
described as the latter.
Congestion at large points of shipment (in this city,
for a conspicuous example) and the impracticability of
examining the contents of packages are the reason
why the carriers have been unable to entirely stop this
*64
197
fraud; similarly, it is impossible for the post office to
open and examine every piece of third or fourth-class
mail matter, and therefore even written sheets may
be transmitted thus, partly in ignorance and partly
by intention; none can tell how much of this petty
cheating goes on. Even as to understating weights,
there are cases where handling freight is considerably
expedited by taking the shipper's weight; the tricky
one argues to himself that if he is caught he can be
charged only the actual weight and if he gets one shipment in ten past the inspector he makes a neat little
extra.
The carriers have inspection bureaus, and had them
long before the Inter-State Commerce Law required
them. The number of corrections in 1910 by one
bureau alone was 87010D0. The chief inspector of
one told Mr. Meade that he thinks not, over onetenth of the cases in his territory are detected, and his
estimate is that while the carriers do get some net
increase in revenue by these expensive bureaus, they
are robbed of probably 40 millions a year notwithstanding.
Mr. Meade says that in 1908-11 there were only 20.
prosecutions for such violations of the Inter-State.
Commerce Law, yielding.only $7,425 in fines, while in
the same term the roads were fined $600,000 in 84
cases for their offenses. He thinks popular indignation might well take another turn, and that, inasmuch
as all the roads can do when they catch an offender is
to collect the proper amount, it is for the Government
to better perform its proper duty as policeman. At
every port there is a rigid system for preventing frauds
on the customs, and Mr. Meade thinks there should
be some similarly effective system for controlling the
practices of domestic shippers and shielding the roads
from the burden of inspection bureaus and being
robbed notwithstanding.
The entire.present situation as to rates and wages
adds emphasis to the practical importance of securing
to the roads the revenues which they are permitted to•
collect, if they can.
A misunderstanding between the Cotton Exchange
at Savannah and a similar body at Bremen, Germany,
over matters in dispute in the classification of cotton
was the moving cause of a conference held in this city
last week the results of which should inure to the
benefit of all those concerned in the handling of
the staple. The sessions of the conference were held
at the New York Cotton Exchange, extending over
three days (Wednesday to Friday inclusive), were
attended by representatives of 41 American exchanges,
and did much to foster better relations between American shippers and foreign consumers of cotton. Without going in detail into the causes that were responsible for the conference or the matters discussed, we
note that among the resolutions adopted was one recommending "that all cotton interests work toward
the adoption of a standard of classification for American cotton of all growths, which shall be world-wide."
The importance of such a step cannot be overestimated
in view of the friction in the past due to the various
standards in vogue. But the adoption of universal
standards would not be sufficient without proper
provision for their application. This, however, the
conference had in mind by suggesting that the arbitration and appeal committees of the principal European exchanges be expert classifiers under salary and
have no other interest in any way connected with
cotton.
198
THE CHRONICLE
The work of the conference, moreover, will not end
with the passing of the resolutions referred to. Before
another year it is expected there will be an international cotton organization that will settle such disputes
as arise between producers and consumers. In fact,
Mr. geo. W. Neville, President of the New York Cotton Exchange, who left for Europe this week, was
requested to use his efforts to bring about a conference between American and European cotton interests in the early part of next year to formulate methods for handling the crop of 1913-14. Having in
mind the results of Mr. Neville's former efforts in the
interests of the cotton trade, no doubt is entertained
as to his success in this present case.
[VoL. Lxxxxv.
Parliament on Monday, when he introduced the supplementary naval appropriation bill. London press dispatches declare that the speech is held in some quarters
to presage the institution of a naval law on lines similar
to the recent German measure, and to provide for a
systematic growth of the navy over a series of years.
It was so interpreted by Lord Selborne, who was First
Lord of the Admiralty from 1900 to 1905. In a brief
debate in the House of Lords on Tuesday evening,
Lord Selborne declared that Mr. Churchill's words
ought "to be written in letters of gold in both Houses
of Parliament." In the same debate Viscount Hald,ane, Lord High Chancellor, who, it will be recalled,
recently visited Berlin for the purpose of discussing
Anglo-German relations, made an interesting stateA further reduction in the market quotations for ment to the effect that Germany had been told in the
British Consols has been announced this week, 733/8 friendliest manner that whatever naval efforts she
4aving been reached on Thursday, from which
might make, Great Britain would make still greater.
moderate recovery to 7438, the closing figure of last "We have said," Viscount Haldane added, "that we
evening, has since taken place. This weakness was in would do this with no intention of aggression, but
the face of an announcement that £2,000,000 of the because sea power is our life, and in sea power we inold sinking fund had been allotted by the Government tend to remain superior." The speech of Winston
for tie retirement of the public debt. London cable Churchill was, as we have already noted, made while
advices by no means agree as to any specific cause of introducing the supplementary naval appropriation
the reduction in the price of.the British premier se- of £1,000,000 in the House of Commons on Monday.
curity. The "war" spirit between England and Ger- He sketched the unprecedented rise in the German
many has been appreciably increased. At any rate fleet, which he described as "extremely formidable."
there seem to have been concerted attempts to incite it. The effect of the new German naval law, he said, would
However, the extreme weakness in the market for be that nearly four-fifths of the entire German navy
British funds is undoubtedly due to a combination of would be maintained in full naval commission and
causes and not to any specific one. Furthermore, instantly ready for war. The First Lord continued:
British securities have not fallen greater in proportion "Such preparation is remarkable, and, as far as I am
tIlan the securities of other European countries, and, aware, finds no example in the previous practice of
as we suggested last week, there seems every encour- modern. naval Powers." He then announced the
agement, therefore, to look for the real explanation in British ship-building program for the next five years,
what is conceded to be a fact, namely that London saying that five battleships were to be constructed
bankers, in order to finance underwritings that they next year and four in each of the following years.
have not been able to clear up, are impelled to sell Under the new German law, he said, the ultimate
their investment securities, including Consols. As scale of the German fleet would be forty-one battlethese investments do not conform to current ideas ships, twenty large armored cruisers, forty small
of the rental rates that should be available for money, cruisers and smaller craft in proportion. "That
buyers are backward. It is intimated by London will be an extremely formidable fleet," Mr. Churchill
cable dispatches that a stop in the downward course said, "and the only way to meet it is by cool, steady
of Consols will probably be reached when the net in- and methodical preparation prolonged over successive
come on the investment will have reached about 33%. years. There is no use flinging money about on the
Sir Felix Schuster at a bank meeting in London on impulse of the moment. The strain which Great
Wednesday, referring to the decline in Consols, gave Britain will have to bear will be long and slow, and
the following interesting comparisons: "It has to be no relief can be gained by impulsive or erratic action.
remembered that a decline in the value of securities, We should learn from our German neighbors the way
yielding a comparatively low return, has not been of the policy which marches unswervingly to its goal.
confined to our own country alone. Thus I find that The supplementary estimate to meet the extra German
the fall in value of the British Government securities expenditure is only a small installment, and the new
at the end of June 1912, compared with the end of shipbuilding program of the next five years will be
June„1911, amounted to 2U%, those of Germany to raised to five vessels next year and four each year
nearly 3
those of France to nearly 23/8%, of thereafter, instead of three in 1913, four in 1914,
Belgium to 7%, of Austria to 3%, of Russia to 332%, three in 1915, four in 1916 and three in 1917, the
and of Italy, partly owing to the war, to 6%. Some- number I hoped we might stand at." Mr. Churchill
what similar causes must then have been operating to went on to point out that the increased fighting power
a more or less marked degree on the Continent of of the German fleet involved the reorganization of the
Europe, and a comparison might with equal force be British forces in order that the necessary margin of
extended outside the limits of Europe also. Activity safety might be maintained. He then announced that
in trade all over the world has diverted money from he intended to raise the number of battleships in full
investment markets into commerce, which yields a commission from 28 to 33 by 1914. From 1914 onhigher return." Another influence in weakness in wards Great Britain will have five squadrons, comConsols was a report that a new Indian 3% posed of 41 ships, and of the five squadrons four
feur-year loan was about to be offered in London will be in full commission. Thus Great Britain will
at 96.
have 33 battleships against Germany's 29. This
A renewal of the Anglo-German war talk this week might not be considered a very satisfactory
proportion,
may be ascribed very largely to the speech of Winston Mr. Churchill declared, but having regard for
the
Spencer Churchill, First Lord of the Admiralty, in character of the different vessels, the Admiralty
was
JULY 27 1912.]
THE CHRONICLE
199
The Lloyd-George Government has decided to deal
•of the opinion that 33 battleships would be adequate
with
the problem of British labor disputes by legis1914-1915.
of
for the needs
Mr. Asquith, the Premier, supported Mr. Churchill, lation. The Chancellor in the House of Commons
though later in the week he was more inclined to on Tuesday, in the course of the debate on the dockers'
speak .in calmer vein. On Monday, in the debate, he strike, argued that the labor disputes were more and
declared the increased expenditures "necessary to more challenging British commercial supremacy. The
maintain the security of our shores, of our dominions time has come, he said, to reconsider the whole proband of our commerce, and to insure the peace of the lem, and the Government proposed to deal with it
world. We are most reluctant competitors in this by some form of legislation in the immediate future.
naval rivalry, which was not'provoked by us." The The Chancellor did not indicate the lines on which the
Premier emphasized that the vital interests of Great matter would be taken up, but intimated that some
Britain would be guarded in the Mediterranean, and form of• compulsory arbitration was intended. The
much stronger force would be placed there which London "Times" in its issue of Wednesday suggests
would be amply sufficient to safeguard British inter- that Lloyd-George may resign and conduct a political
ests. The House, he said, might rest assured that land campaign. The "Times" says:
the next year's naval estimates wotild not fall short in
"Mr. Lloyd-George has appointed a committee on
providing everything necessary fully to safeguard land
policy with the sanction of Mr. Asquith. The
British interests everywhere. Lord Charles Beresford body of land reformers in the Liberal Party has been
criticised the increase in the naval program as insuffi- running to an extreme land tax policy at the byecient. He prophesied that the country would go on add- elections in the country with some success.
"Whether the country is or is not ripe for such a'
ing more ships each year, but not enough—just sufficient
policy, the Liberal Party as a whole is not ripe for it;
to induce Germany to follow suit, until war came.
The London "Daily Mail's" Parliamentary corre- but if the electorate can be captured by a political
spondent declares that it is an open secret that the land campaign, there are many Liberals who believe'
they can win the next general election, and Mr. Lloyd,Canadian Premier, Robert L. Borden, and his col- George is marked out as the protagonist.
leagues are prepared to recommend the contribution
"To conduct this campaign with freedom, Mr. Lloydof $30,000,000 to build three Dreadnoughts, but that George would have to resign his office. The question
nothing can be announced until the Minister's return of moment in political circles is whether the Chitnto Canada. The "Daily Mail" believes this knowl- cellor will take the plunge."
edge influenced the British Government in preparing
The British Medical Association at a meeting on
the recent naval estimates.
In distinct contrast with his remarks on Monday, Tuesday definitely broke off negotiations with the
Premier Asquith on Thursday took an optimistic view Government concerning the new workmen's insurance
of Britain's international relationships. His state- law, which provides for State payment of physicians
ment was made in connection with the estimates for who attend policyholders. Sir James Barr, the now
the Committee on Imperial Defense. For the past Pres.dent of the Association, characterized the Act
decade, Mr. Asquith said, international relations had as "the most gigantic fraud perpetrated on the public
been undergoing construction on perfectly settled and since the South Sea Bubble." The doctors generally
definite lines. He continued: "We have cultivated cheered the attack, but there was a number of diswith great and growing cordiality on both sides our senters. The action of the Association promises to
special international friendships. They have stood put the Government in the position of being unable
the test of time and the test of bad as well as of good to give the chief benefit promised to the people by
weather, and questions which ten or fifteen years ago the insurance Act. The Association also adopted a
might have caused ill-feeling or worse now yield motion asking every member of the medical profession
smoothly to mutual accommodation in perfect good- for a minimum subscription of £20 for the purpose of
will. But our friendship for them is not in any sense reimbursing those practitioners who may suffer finanexclusive. I say deliberately that we have no cause cial loss through the carrying out of the policy of the
for quarreling with any cotmtry in any part of the Association. Lloyd-George has been negotiating with
world. We view without the least suspicion and with the doctors in reference to the administration of medperfect equanimity such special conversations as that ical benefits under the Act, offering them 6 shillings
between the Emperor of Russia and the German Em- for each insured person per annum. The doctors at
peror. Our relations with the great German Empire first demanded 10 shillings and 6 pence, but subseare relations of amity and good-will." The Premier, quently reduced this to 8 shillings 6 pence.
pointing out that Great Britain's responsibilities were
world-wide, concluded: "I am stating what is absoThe detailed note of protest which Great Britain has
lutely and literally the fact when I say that this ex- promised to present against the Panama Canal Bill
penditure is regarded by us simply as a necessary in- has not yet been received at our State Department.
surance of the enormous interests of which the Gov- We have already intimated that the mere filing of the
ernment of this country and the House of Commons document would have no real value since the notiee
are, or ought to be,thefaithful and vigilant trustees." of Britain's intention to present it has served the full
It seems, we think, under these circumstances quite purpose of bringing the attitude of that country'to
fair to assume that the war talk is being entirely overthe attention of our legislators. It may possibly be
done. The natural explanation appears to be that
considered by Britain the part of wise diplomacy to
it is part of a definite movement to conciliate. the
the matter rest in its present form, especially as
British taxpayers in order that they shall not become let
seem prospects that the Bill itself may not
too openly restive under the, burden of increased there now
to final enactment at the current session
brought
taxation that perpetual increase in armaments neces- be
It is the desire of our State Department,
Congress.
of
sarily means. It is significant that the present belliusually well-informed Washington 'corto
according
cose spirit apparently does not extend on a correhave the entire matter treated -as a
to
respondents,
Fatherland.
sponding scale to the
question between the Senate and the British Foreign
200
THE CHRONICLF
Office. In this way the Department will be left with
free hands and a clean record to defend diplomatically
any position which this country may take. The Bill
will probably be again taken up in the Senate on
Monday and several speeches in favor of discrimination to American shipping will be made. The diplomatic action of the British Government has, however,
already had,the desired effect, namely of bringing
the entire question to the attention of this Government
before, and not after, definite action that would be
considered prejudicial by British interests has been
taken.
,[VoL. Lxxxxv.
ideas. His son, the heir apparent, was born in 1879
and was married in 1900 to Princess Sada, daughter
of Prince Kujo. The death of the Emperor will
possibly interrupt temporarily.negotiations that are
reported to be in progress between Russia and Japan
for a new alliance that is attracting attention of other
governments, especially of China. Lately Japan
has included Inner Mongolia in her claims of "special
interests", which means a great area of China. China
feels utterly helpless to prevent encroachments
while European alliances stand in the way of action
by most of the Powers. The Peking correspondent
of the London "Daily Telegraph"
. cables his paper
that the new Russo-Japanese agreement is an amplification and consolidation of the treaty of Portsmouth
between Russia and Japan. According to the correspondent, Articles 3 to 8 will be virtually expunged
and re-stated in a form confirming to Japan her LiaTung peninsular lease, allowing both signatories
greater military freedom in their respective spheres,
precluding neutral nations engaging in Manchurian
development and sanctioning the building of a new
strategic railway. Japan, says the coorrespondent,
will have confirmed all of her territory south of
parallel 44, east longitude 116, giving her paramount
influence over and enabling her to dominate Peking,
while Russia will have complete liberty of action in
all of the Chinese territory to the exterior of the great
wall west of the Japanese zone. Japan also formally
accepts the Russian twelve-mile limit in territorial
water and supports the construction by Russia of the
Kiakhta, Railway of Siberia.
Cable advices are much more favorable to an early
announcement of peace in the Tripolitan War. While
the tentative concessions that Italy has allowed it to
become known she will make, including the payment
of a considerable sum to Turkey for the relinquishment
by the latter of sovereignty rights in Tripoli, have
been rejected, a new,element has entered the situation
in the form of the threat of civil war in Turkey.
The President of the Turkish Chamber of Deputies
announced in the Chamber on Thursday that a group
of Turkish military officers had lodged a demand
for the dissolution of the Chamber. The demand
recaehed the President in the form of a letter bearing
• the seal of the Military League, reading in part as
follows: "Your evil labors in Committee and Parliament have done much harm. We do not wish to
stain our hands in your soiled blood, but we warn you
that the army and the people demand dissolution
of the Chamber. Failing compliance with this demand within forty-eight hours, we will do what is
needed." The Minister of War, Nazam Paella, in
The Chinese National Assembly, having refused to
behalf of the new Cabinet, professing that he was not approve the Cabinet appointments submitted by
aware of the-insiStence of the League, announced that President Yuan last week, yesterday accepted, with
the Govermnent would endeavor to discover and one exception, the new list the President had subpunish the authors of the letter. The Military League's mitted. Dispatches from Peking state that many of
demand that the Turkish Chamber of Deputies be the law-makers would have liked also to reject the
dissolved is based on the contention that the house is new ist of appointments, but did not do so because they
packed with the nominees of the Committee of Union feared the generals, who, supporting Yuan, threatened
and Progress. The Military League, according to to proceed to Peking and dissolve the Assembly forcibly
recent advices that seem to be responsible, evidently in the event of further obstruction. The military comhas the upper hand, and the Committee on Union and manders in Peking held a meeting on Thursday and reProgress—the . Young Turk movement—which has solved to urge President Yuan to insist that the Assembeen in control of the Government since the revolution bly approve his selection of members of the Cabinet.
resulting in the. overthrow of Adbul Hamid,is fighting Otherwise, the commanders declared, they would asfor its continued existence. The Military League sume control of affairs personally. This action is in the
has threatened to enforce its demands for a dissolution direction of a personal dictatorship by President Yuan,
of the Chamber' by having the army divisions at supported by the military, which has been expected for
Monastir, galonica and Uskub, together with the some time. A Shanghai native newspaper, in its issue
Albanian insurgents, march on Constantinople. With of July 22, after reviewing the present situation in
such a seriOus condition of affairs at home it is not China, dwells on the possibility of civil war and the
unlikely that Turkey will feel more inclined to accept division of China into two republics, a Northern and
a settlement of its foreign troubles.
a Southern. The two dominant figures in the situation, it says, are the present incumbent of the PresiAffairs in the Far East are again, perhaps we should dential office, President Yuan Shai-Kai, and Doctor
say still, in a.highly disturbed condition. At this writ- Sun Yat Sen, who was Provisional President and a
ing cable accounts state that Emperor Mutso Hito of chief figure of the recent revolution. The radicals
Japan is so Critically ill that his death can hardly be opposing the policies of President Yuan Shai-Kai have
more than a question of a few hours. It has been the announced that they mean to put Dr. Sun in Yuan's
present Mikado's tact and progressive ability that place. They have ample strength to carry the
have been largely responsible for the rapid strides in Southern provinces, but Yuan has the North solidly
his country's development that have taken place at his back. Thus there is danger of a clash between
since he succeeded his father, the former Emperor, in the two sections of the country. President Yuan, at
1868, at which time the country was in a ferment, a conference on Monday with members of the National
owing to concessiOns which had been granted to Council, made a forceful and impressive speech.
foreigners. It was he, for instance, who brought "Cabinet changes and party strife," he said, "will be
about the abolition of torture and who right along China's undoing. China's foreign affairs are as bad
has been the prime mover in the adoption of European as the newspapers have stated, and the country's in-
JULY 27 1912.]
THE CHRONICLE
tenor affairs are worse than the newspapers have
represented. China's motto should be 'patriotism
before party.' All should unite to form a Cabinet
immediately. Owing to Lu Chen Hsiang's experience,
he must be retained as Premier until a permanent
Government is formed." The "Journal des Debats"
of Paris says the announcement of a new accord
• between Russia .and Japan gives the Chinese Government one more reason to put its house in order. It
confirms the argument, the journal in question says, as
to how senseless it would be to sign contracts for loans
with China without a control in which Russia and
Japan were represented.
201
week: Imports, £292,000 (of which £5,000 from
France, £12,000 from Australia and £275,000 bought
in the open market); exports, nil, and shipments of
£91,000 net to the interior of Great Britain.
A further increase of 12,950,000 francs is noted by
the weekly statement of the Bank of France in its
gold holdings. This follows an increase of 12,075,000
francs last week, which suggests the final arrival at
the Bank of the recent exports of gold from New York
to Paris, especially as the foreign exchanges have
ruled against the French centre all week. The silver
holdings again showed a decrease, having declined
7,575,000 francs, following a reduction of 2,100,000
Private bank discounts in London have ruled above francs the week previous. The Bank now holds
the Bank of England minimum of 3% virtually 3,292,950,000 francs in gold, which compares with
all week. The closing quotations as reported, by 3,192,000,000 francs at this date last year and 3,393,cable yesterday were 3% for sixty-day ,spot bills, 075,000 francs in 1910. The silver stocks are well
3 3-16% for ninety-day spot bills, while bills to arrive below last year, amounting to only 798,650,000 francs,
were quoted at 3 1-16@,33'% for sixty days and 334 @, comparing with 852,900,000 francs in 1911 and 860,398% for ninety days. All these quotations indicate 625,000 in 1910. But the strongest feature of the
fractional concessions from Thursday's closing rates. A Bank's statement is the contraction in circulation of
few scattering finance bills on London were placed in 112,900,000 francs, of 57,300,000 in bills discounted,
New York this week, but, with the firmer market in and of 5,500,000 in advances. The circulation item is
Lombard Street, there has been slight inducement to now beginning to get down closer to the corresponding
take speculative risks in this respect. Call money in figures of recent years, the total outstanding, according
the 13ritish centre, as cabled yesterday, was ruling at to this week's statement, being 5,147,448,000, against
was the range for loans ex- 5,024,986,605 one year ago and 5,037,552,475 francs in
3
2%, while 23'@2%%
week ago the private dis- 1910. The discounts are, in fact, now below the
A
August.
into
tending
count rate was 3% for spot bills, all maturities, total of a year ago, amounting to 1,122,914,000, com3 1-16@3%% for sixty-day bankers' acceptances to paring with 1,123,174,920 at this date in 1911 and
arrive, and 3M @314% for ninety-day bankers' accep- 968,953,577 in 1910. General deposits registered an
tances to arrive. The closing discount rate at Paris, increase of 35,875,000 for the week and treasury
as reported by cable yesterday, was 2%% for all deposits increased 59,550,000 francs.
The statement of the Imperial Bank of Germany
maturides, spot and to arrive. This represents no
change from the spot rate of a week ago, but compares indicates a continued strengthening of resources. The
5 8@2%% for bills to arrive. Berlin stock of gold on hand increased 36,207,000 marks,
with a range of 2/
closed fractionally higher at 33% for all maturi- though the combined stock of gold and silver is only
ties, comparing with 39870 a week ago. Brussels 21,236,000 marks higher. However, the combined
0, while Amsterdam supply of the two metals is at high-water level for
closed a shade higher at 3%@347
38
%.
The official Bank this week of the year, amounting to 1,278,254,000
at
week
4
the
lower for
1
is 4%
centres
London, 3%; marks, comparing with 1,235,920,000 marks in 1911,
are:
foreign
leading
at
rates
Paris, 3%; Berlin, 432%; Brussels, 4%; Amsterdam, 1,111,540,000 marks in 1910 and 853,060,000 marks in
1909. The Bank reported an increase of 40,694,000
4%; Bombay, 3%; and Bengal, 3%.
marks in deposits, but a decrease of 67,886,000 marks
in
England
discounts, of 15,822,000 marks in loans and of
registered
of
The weekly return of the Bank
bullion
marks in treasury bills. The loans and
and
coin
23,977,000
gold
in
an increase of only £201,385
now aggregate 1,077,377,000
comVined
purchased
discounts
Bank
the
that
g
holdings, notwithstandin
with 983,020,000 marks in
open
compares
the
marks,
which
in
offered
gold
African
South
the
£470,000 of
market on Monday—which, however, does not show 1911 and 931,660,000 marks in 1910. The outstanding
in full in the present week's statenient. India secured circulation amounts to 1,644,256,000 marks, which
£100,000 at the same offering, and a similar amount compares with 1,554,040,000 marks one year ago and
was taken for the Continent. The total reserve of the 1,533,340,000 marks in 1910.
Bank increased £214,000, but with an increase in
With New York exchange at the West ruling at a
public deposits of £791,000 and in ordinary deposits
most of the week, and with a good demand
discount
liabilities
to
of
the
proportion
reserve
£342,000,
of
was reduced slightly, this week's figure being 50.38%, for banking accommodation at home by merchants
against 50.98% a week ago and 54.50% at this date and manufacturers, the New York banks and other
last year. The bullion holdings now aggregate local lenders are showing a distinctly firmer attitude. •
£41,163,856, comparing with £41,161,348 one year Mercantile paper, for maturities extending into the
ago and £40,659,323 at this date in 1910. The new year at least, may now be quoted on a T% basis,
reserve is £30,282,000, comparing with £30,422,028 in although choice single-name paper maturing in the
1911 and £30,497,473 in 1910. Notes in circulation autumn has been taken during the week at 4M@,484%.
show a decrease of £13,000, while the loan account, as Time money also is quotably higher, and the disposirepresented by the item "Other Securities," indicates tion in banking circles in New York is to look for a
an expansion of £939,000, which may be considered well-sustained and firm market for money during the
• quite moderate in view of the continued high private remainder of 1912 and well into the new year. The
discount rate in Lombard Street. Our special cor- crop outlook is considered such as to justify expectarespondent furnishes the following details of the gold tions of a more than usually active demand for finanmovement into and out of the Bank for the Bank cial facilities, and it is argued that at the high values
202
s
THE CHRONICLE
. [VoL. Lxxxxv.
that are current for their products, the farmers will basis for single names of choice character running into
show no early activity in selling. This, at any rate, next year. Sixty and ninety-day endorsed bills re.seems the usual attitude in the agricultural district ceivable are quoted at 43'@49%. Bills not us ually
when there are abundant harvests at satisfactory classed as choice may be quoted at 53.%.
prices. Our bankers seem also quite optimistic reThe firmness which we noted in sterling exchange
garding the prospects for general business improvement. They are arguing that for a protracted period last week has made further progress, there having
mercantile activities have been carried on on a re- until Friday been a steady advance in rates each day.
stricted scale, manufacturers and traders alike having On Friday easier discounts at London induced specuconfined their operations to the basis of current lative selling and freer offering of loan bills. Demand
requirements instead. of attempting commitments on bills closed yesterday at 4 8765@4 8775, which is
broad-gauge lines. With the culmination of the well below the formal point at which it is usually
election as a retarding influence on business, the figured that gold can be sent abroad without loss.
tendency is to look for a future volume of trade that The rate at which this can be done under current conwill be predicated upon broad business policies, taking ditions is figured at approximately 4 883 for demand,
in current and future requirements. As it will require but it will be recalled that in the exports of the prea large volume of merchandise to fill up the ordinary cious metal that have recently taken place the enchannels of distribution where stocks have, in the last gagements have been made while the market was
two years particularly, been drawn down to nominal much below the formal shipping point. The demand
proportions, there seems in sight a much improved for remittances on tourist account is keeping up fairly
volume of general business that will require adequate well, but the firmness in London discounts discouraged
banking facilities. Furthermore, our banking reserves until Friday the sales of finance bills in this centre that
at this centre are not sufficiently liberal to justify have been a feature of the recent market. The Contiundue generosity among lenders at a period that is so nental exchanges continued to rule in favor of the
close to the annual crop-moving season. Last Satur- British centre, the London check rate in Paris, acday's statement of the New York Clearing House, it is cording to yesterday's cable advices, closing at 25
true, indicated a further increase in the cash surplus francs 253 centimes, which is an advance of 1 Wi centime
held by the Clearing-House banks and trust companies. for the week. The London check rate in Berlin has
The increase amounted to $8,459,250 and brought further advanced M pfg. during the week and closed
.the cash surplus up to $19,165,800. This compares yesterday at 20 mks. 49 pfgs.
Compared with Friday of last week, sterling exwith $19,511,250 one year ago, when mercantile
requirements were limited, and with $46,433,100 change on Saturday was unchanged with demand still
surplus held by the banks alone in 1910. The banks quoted at 4 8750@4 8760, cable transfers at 4 8790@
are not prepared, therefore, to stand any steady drain 4 88 and sixty days at 4 8465@4 8475. On Monday
of abnormal proportions. The strength that has been the market 'advanced on renewed firmness in disthe feature of sterling exchange during the week has counts at London and light offerings of bills here;
constituted an additional source of caution on the.part closing figures were 4 8760@4 8770 for demand,4 8795
of lenders. The rates for setrling are not yet up to @4 8805 for cable transfers and 4 8470@4 8480 for
the formal point at which it is figured that gold can sixty days. The upward movement was continued
be exported without loss. But there is such a com- on Tuesday and demand moved up to 4 8765@4 8775,
plete absence both of finance and commercial bills that cable transfers to 4 88(0 8810 and sixty days to
the market is unseasonably firm. The shipment of 4 8475@4 8485. Demand sterling touched 4 8780 on
$250,000 in gold engaged in New York for the Argen- Wednesday, the highest point reached in over two
tine at the close of last week suggests that in the event years, although later there was a slight reaction and
of further large shipments being required by that demand closed at 4 8770@,4 8775; cable transfers held
country, New York will be expected to supply the firm and advanced to 4 8805@4 8815, while sixty
gold. While such transactions would be on foreign days remained unchanged at 4 8475@4 8485. On
account, they would necessarily be equivalent to the Thursday sterling rates again advanced, due mainly
. ity of commercial bills; at one
exportation of just so much of the precious metal direct to the continued scare
to the United Kingdom or Continent. It is evident, time demand and cables went as high as 4 8785 and
as a result of the small volume of available reserves, 4 8820; before the close, however, the market eased off
that our banks and other institutions are not in a and the final range was 4 8775(0 8780 for demand,
position to supply a foreign demand without producing 4 8810@4 8815 for cable transfers and 4 8485(0 8495
for sixty days. On Friday a reaction of about 10
a higher range of money rates at home.
Call money has ranged during the week between points was the response to easier London discounts.
29/8% and 3%. These were the lowest and highest Closing rates were 4 8475@4 8485 for sixty days,
figures on Monday, on which day 2%% was the re- 4 8765@4 8775 for demand and 4 88@4 8810 for cable
newal figure; Tuesday's extreme figures were 2% transfers. Commercial on banks closed at 4 83@
2.
and 3%, with 2%% remaining the renewal basis; on 4 843 and documents for payment at 4 84@4 853/
Wednesday 2%% was the highest, 23/2% the lowest, Cotton for payment ranged from 4 8414@484k;
2(08565.
and 2%% still remained the ruling quotation; on grain for payment 4 853/
Thursday the ruling rate was reduced to 29.%, while
The New York Clearing-House banks, in their op3% was the highest and 29% the lowest; Friday's erations with interior banking institutions, have gained
range was 23@29., with renewals at 2%%. Time $6,656,000 net in cash as a result of the currency
money is about 3@32% higher for the week, final movements for the week ending July 26. Their
quotations being 33@332% for sixty days, 33
/
1% receipts from the interior have aggregated $13,523,000,
for ninety days, 4@434% for four months, 4@41A% while the .,shipments have reached $6,867,000.
Addfor five months and 434@49% for maturities ing the Sub-Treasury operations and the gold
exports,
extending into the new year. Mercantile paper, which together occasioned
a loss of $3,100,000, the
as already noted, is very close to a 5% general combined result of the flow of money into and out
of
JULY 27 9'21
]
THE CHRONICLE
203
defines. We will present as
the New York banks for the week appears to have and authoritatively
of its argument.
outline
an
possible
as
briefly
been a gain of $3,556,000, as follows:
Its keynote is that "Germany's fate is England."
Net Change in
Out of
Into
The one vital question for Germany is this: Is the
Bank Holdings.
Banks.
Banks.
Week ending July 26 1912.
control in all
$6,867,000 Gain $6,656,000 Anglo-Saxon type destined alone to
$13,523,000
Banks' interior movement
26,200,000 Loss 3,100,000
23,100,000
Sub-Treasury operations
those parts of the earth where development is still in
$36,623,000 $33,067,000 Gain $3,556,000
Total
progress? If Germany is not to be permitted to be
a
constructive factor of the coming civilization—if, in
The following table indicates the amount of bullion
short,
Germany is to be confined within her present
in the principal European banks.
borders, or to continue limited, as she is now by EngJuly 27 1911.
July 25 1912.
land,in her influence in the world—her fate is sealed.
Banks of
Total.
Silver.
Gold
Total.
Silver.
Gold.
The truth of this proposition and the injustice of
41.161,348 it the author undertakes to prove beyond dispute.
41,163,851' 41,161,34>
England _ 41,163,856
161,716,380
France _ 131,878,200 31,945,760 163,823,960 127,679,961 34,036,420 61,795,600 He takes high ground.
He says that moral force is
Germany. 48,954,350 15,700,000 64,654,350 45,859,504 15,930,100 152,789,000
7.727,000
Russia __ _ 151,855.000 7,979,00( 159,834,001 145,062,004
in the historical developthing
that
only
counts
the
51,532,000 12,237,001. 63,829,001 56,007,004 12,699,030 68,706,000
Aus-Hun
47,655,000
Spain _ _ _ _ 17,059,000 30.138,000 47,197,001 16,586.00( 31,069,000 43,695,000 ment of a nation. Its national position is determined
Italy d_.. 42,409,000 3.660,00( 46,069,006 40,031.001 3,604,000 13,353,200
973,700 12,987,701 11,702,00( 1,651,200 10,059,000
Netheri'ds 12,014,000
but this has world relations only when the
Nat.Belg _ 6,769.333 3,384,66; 10,154,000 6,706,00( 3,353,000 4,731,000 by that;
5.333.00( 4,731,001
Sweden _ 5,333,000
6,367,000 nation has a world sphere of action. The Roman
6,367,00(
6,653,000
Switzer!. _ 6,653.000
2,406,000
2,166.00( 2,406,00(
Norway _ 2,166.000
national spirit, for example, has no such value for
614,434,528
110,075,720
304,358.80'
123,864,861'
,123
This week 517,846.739 106,018
109.644,537 611,498,337 the time to come because the Roman people are conl'rev. week 514,005.684 106,649,82; 121,645.511 101.853.g04
fined to a small section of the Mediterranean. The
Anglo-Saxon influence leads the world to-day because of its world-wide representation, as well as
GERMANY'S CHALLENGE TO ENGLAND AND because of its internal vigor. It is idle to talk of
THE WORLD.
advancing your culture, pushing your technical,
The speech on Monday of Winston Spencer Chu;•chill, scientific and artistic attainments, increasing your
the British First Lord of the Admiralty, in introducing internal sources of power, if you cease to send your
the supplementary naval appropriations in the House merchants and your manufactures into new territory,
of Commons, has been the event of the week in foreign and fail to build new ships and invest new capital
affairs. It was simply a reaffirmation of the British in world-wide enterprises, or to send your sons into
policy regarding naval affairs previously announced foreign markets and to gather from the ends of the
by different members of the English Ministry; but it earth the rewards of your labor. Germany's conserved in a striking way to reveal the effects of that tinual extension of herself in the world is her only hope.
policy. British naval plans are to be governed She must contend with the Anglo-Saxon for a place,
entirely by German naval plans. If the German navy or she must fall back into the position of a territorial
is to be made more powerful, the English navy is to people. The English must be compelled to decide
be increased still further. English naval supremacy whether they will set their interests side by side with
is to be maintained on a paramount Escale whatever German, and share equally with them, or whether
the cost. Is this attitude defensive or provocative? they will sustain their present position with force.
It doubtless is both, but, as far as it marks opposition If they choose the first, it will be because they fear
to Germany, there is no denying that the Briton is the issue of a struggle with Germany; if they choose
simply meeting the challenge of the German. Not the second, Germany's material strength will deterless noteworthy is the fact that the Asquith Ministry, mine whether or not she shall be overthrown.
Then follows an elaborate setting forth of Germany's
in responding to the German chore ige, has the supthe
of
Historically, Germany has lost at least
but
party
political
own
situation.
its
of
merely
port not
by
her proper territory in her separation
was
made
of
evident
This
one-third
Britain.
Great
of
whole
the action of ex-Premier Balfour of the Opposition from German-Austria, Switzerland, Belgium and the
in declaring unqualified approval of the Government's Netherlands. Or, if account be taken of the lands
with which she is related by blood and history, it may
program.
all
from
result
be considered at least one-half. Once, indeed, men
What changes in world affairs may
stage.
this
of
at
would
German stock dominated all Central and Southern
venture to predict
this,no one
Gerof
the
is
it
re
penetrating even into Asia. Small States,
Europe,
ambition
bottom
-awakened
At the
what
like
Norway and Holland, have no room for
to
the
Sweden,
and
world
which
has
to
deal,
with
many
this will lead it would require prophetic powers to developnient if they would advance to the first. rank.
foretell. At least, however, it will be helpful to an They have individuals of the first rank, but in this
appreciation of the tendencies at work to get an under- day of specialized learning it is impossible to develop
standing of German aims and purposes. UntilElately apart from the facilities provided only by large comGermany's frequent outbreak of bitter hostility to munities. While, because of the disturbance of the
England and the continual presence in Germany of a balance of power in Europe, it would not do to attempt
spirit of antagonism which has proved disturbing to to bring about the union of these smaller States with
the peace of Europe has been something of a mystery. Germany by force; if Holland, Belgitrm, Switzerland
Individual events have from time to time been looked and German-Austria knew what is to their advantage,
upon as in part explaining it, but the explanations they would voluntarily seek it. Scattered groups of
have been felt inadequate. New light, however, has many Germans in Hungary and Central Russia are
recently been supplied. A book came out several quite lost already to the Fatherland; and as for the
months ago in Leipzig which has gone at once•into twelve to fifteen millions who have gone to the United
many editions and has created a sensation. Its title States in the course of two hundred years, excepting
is "Der Deutsche Gedanke in Der Welt," which may the few who were driven over in 1848, they are a poor
le freely translated "The German Conception of lot, valuable for opening a new land, but not strong
Germany's Sphere of Influence," which it very boldly enough to withstand assimilation by the Anglo-Saxon.
204
THE CHRONICLE
[VOL. Lxxxxv.
The historical appeal is thus akin to that made in • The fame of Miltiades would not allow Themistecl
es
the Rectoral address in the Commercial College of to sleep. Because England embodies the restless and
Berlin on the Emperor's birthday in 1910, when the resistless Anglo-Saxon spirit, and has behind her her
story was told of the driving out of the Germans from Imperial dependencies, while across the sea heaves and
their holdings in South America three hundred years stretches the giant Anglo-Saxon Republic, Germany,
ago by the same Spaniards from whom they had with the growing pains of puissant youth in her mighty
purchased their rights, and the appeal was made that thews,stirs with continual passion and,
now and again
the German navy should always be strong enough to elbowing her neighbors, breaks out with a
word or acmaintain German rights in all parts of the world.
tion that threatens Europe and disturbs the world. EngThe increasing constriction of Germany in all direc- land is continualjy responding to the challenge,
as this
tions by the rapidity of her growth is shown by many week's speech of Winston Spencer Churchill
is witness.
statistics, coupled with comparisons with other countries, particularly England, to prove her ability to THE INTER-STATE COMMERC
E COMMISSION'S
relieve herself. The increase of her population every
DECISION REGARDING EXPRESS RATES.
three years is equal to the entire population of SwitzerWe have deferred until the present week comment
land; every six years to that of Holland or of Sweden; on the action of the Inter-State Commerce
Commission,
and in one generation to that of Spain and Portugal as announced last week, in submitting a scheme
together. England increases one-fifth less rapidly; of express rates, involving radical reductionsfrom
exwhile German commercial growth is steadily surpassing isting rates,so that we might have time for a careful
all the other Continental countries and fast approxi- study of the Commission's most elaborate report and
mating in amount that of England.
opinion regarding the matter. This report, with the
The main stress of the appeal, however, is laid upon appendix and the accompanying rate schedules,
makes
Germany's lack of a genuine national spirit. This a bulky pamphlet of about 550
pages. We are imis due in part to her history and in part to the sharp pressed quite favorably by the Commission
's treatment
division of classes among her people. She has plenty and discussion of the subject. We can find
nothing
of aristocratic spirit, and caste spirit, and party spirit, in the opinion, which is by Commissioner Lane,
nor
and Philistine spirit, but no true national spirit and in the statistical data contained in the appendix
to
no sense of world politics. Mercantile spirit and in- the report,to sustain the large and general
reductions
dustrial spirit are growing, but they count little in the in rates which are!proposed.
But,accepting a reduction
higher relations for the nation's future. German self- in rates as a foregone conclusion
by reason of the fact
justifying egoism lacks the nioral consecration which that the Commission considers
itself the champion of
comes only with the categorical imperative of service the shipper, there is much in
the remainder of
and of patriotism. This is what gives the Anglo-Saxon the report of a highly instructive
and illumining
his place in the world, and stands,as the great Plus character, and the document as a whole
will prove
behind the credit side of the business figures in the helpful in .enabling the disinterest
ed outsider to reach
English tables.
correct conclusions. Even as to rates time is given
English aggression is to be met by a new German for filing objections. The express carriers are
allowed
self-consciousness, which takes umbrage at England's until Oct. 9 to show cause why the
proposed rate
assumption of control in the affairs of the Western schedules should not be put into effect.
world. England's boundaries are not in the Himalayas
Comparing this report as to express rates with the
and the Antarctic, but wherever another nation is opinions handed down in February of
last year in the
strong enough to set up the flag of her own indepen- matter of the applications of Eastern
and Western
dence or thought and influence. What Germany roads for permission to advance freight
rates, the tone,
most needs to-day is that her national self-conscious- as marked by the style and phraseology of
the disness shall become more aggressive. England knows cussions, is distinctly superior. This is the more
notethat she must either increase or decrease; hence she worthy since Commissioner Lane, who
writes the
must extend her borders and her power. Shall not present opinion, also wrote one of the two
opinions
Germany, with her twenty million more of population in last year's freight decisions. These
decisions
and her much more rapid growth, do the same? Within of 1911, as we showed in a series of
articles at
a half generation one-half the German people will not the time, were 'supported by a mass of
misleading
be able to get food within their own country.
and erroneous statistics, and nearly every page of the
All this is enforced in the light of the tremendous two opinions, which were elaborate documents
like
crisis now present both in China and, because of the the present opinion, bore evidence of the strong
bias
revolution in Turkey,in the whole Mohammedan world. felt against the railroads by the members
of the
The outcome of the one, as of the other, no man can Commission.
forecast. The unrest in India and the opening of AfThe opinion which Commissioner Lane has now
rica, with its portentous race problems, must be al- written,being more judicial in character, is for
that
ligned with these as showing that the whole world, in reason also much more convincing—not in the matter
fact, is undergoing revolutionary changes. No ab- of the proposed rate reductions, but as regards
the
stract traditional culture, and this is the crux of the rules and practices of the express companies,
which
whole matter, no national self-sufficiency, will serve the Commission likewise undertakes to
reform.
as a flux to be thrown into the colossal melting pot Certain observations in Mr. Lane's remarks
betray
which holds the ends of 'the earth. Only a national the latent prejudice existing against the
carriers in
Gedanke—i. e., conception of her place and function— the minds of the Commissioners. Thus in
discussing
will serve. And to-day the Anglo-Saxon conception the scale of graduated charges for the
forwarding of
is the only one which meets the requirement. That express packages, he is led to say:"No one can
analyze
that conception is complete and final no one will be- these tables * * * and arrive at any
other
lieve, but it cannot be gainsaid that it is the most conclusion than that they are the product of
a cunning
virile and effective the world has seen since the Roman effort to impose
upon the general public by the
Empire. So far the author and his book.
exaction of exorbitant charges for those small packages
•
JuA
1912.1
THE CHRONICLE
which. the. mail. cannot carry and the railroad does
not wish to carry." That there, was "a cunning
effort to impose" may well be doubted, and at all
events. the report would. be stronger if it were
entirely free from such expressions. However, as
already. indicated, there are very few blemishes of
that sort and:in the main Mr. Lane,has. succeeded in
maintaining a judicial attitude and in employing
temperate forms of- expression. We will go further
and say that the Commissioner, in, taking exception
to objectionable things, often is frank enough to
concede that such things are not the result of design
or intent, and that apparently there has been no
purpose to offend.
In Saying this we do not mean to be understood
as endorsing, all the conclusions of the Commission.
As to the validity and soundness of some of these,
further light and, more time will be needed to determine. Others, however, are so clearly meritorious
that it is only necessary to state them to secure
acceptance for them. One of the things about which
frequent complaint has been heard as regards the
express companies is the double collection of charges.
The shipper would prepay the charge and then through
SOITIQ clerical mistake the consignee would also be
called upon to pay. The Commission prescribes a
very simple method for overcoming this trouble.
To, prevent, double collections a system of, labels is
prescribed-7-a yellow label, which shows that the
charges have been paid; a white label when the charges
have not been paid; and if no label is carried on, the
package it must be delivered without charges and
the error corrected later. This is so simple that it
seems surprising no one thought of it before.. The
'present practice has been for the express carriers to
receive a prepaid package and stamp it as prepaid,
but, on occasions there would be omission to mark
the package as prepaid and in other cases by the
oversight of the agent at the point of delivery the
wagon driver's delivery record would fail to state the
fact of prepayment; and at many intermediate,stages
between the point. of origin and the door of the consignee there was opportunity, the Commission says,
through slipshod methods of bookkeeping and checking
for the record. to misstate the fact.
The Commission appears also to have hit upon a,.very
ingenious method,for reducing the multiplicity of rates.
Commissioner Lane argues that simplicity is the
ultimate essential in- express matters. Instead of
becoming more and more involved in, classification,
rules and rates, as has been the tendency, there should
be a complete reversal of policy in this regard. He
contends that under the existing system neither
shippers nor expressmen know the express rates of
the country, nor can experts be certain that the rates
they quote are certainly the lawful rates, so many are.
the conflicting rules, routes and scales. There are
some 35,000 express stations in the United States.
To.separately state the rates from each one of these
stations to each of the.others would,require the statement of over 600,000,000 rates. He argues that the
ordinary express agent is lost in the attempt. to. find
a rate. With files of all, the tariffs of all the express
companies at their command, the rate clerks of the
Commerce Commission find it difficult and. uncertain
work to ascertain the lowest legal rates applicable
to shipments moving between two points, particularly
when there are many possible routes and transfer
points via which the shipment may move. Under
these circumstances, he well says, it is small wonder
205
that many mistakes in charges result; and the loss
of time, loss of revenue and lack of efficiency resulting
from such a system of rates are incalcuable. As a
substitute for the 600,000,000, rates referred to, the
Commission has devised a rate system based upon
the division of the country. into 950 blocks, each of
which is easily delineated on any map—the square
formed by one degree of latitude and longitude. These
blocks have an unvarying length of 69 miles and a
variable width of from 62 to 45 miles, according to
their location, and may be considered as embracing
an average of 3,500 square miles each.
By stating rates as applying from block to block
instead of from point to point, simplicity results and
the actual number of express rates in existence is
reduced from over 600,000,000 to less than 345,000.
As even 345,000 separate rates, however, would. be
an intricate structure for a- local agent to handle,the
volume is still further reduced by requiring the carriers
to publish a separate and distinct tariff to apply from
each block to all other blocks. There are 120 blocks
in which there are no railroads or express stations and
hence the total number of, blocks between which rates
are to be made is 830. Obviously, it is unnecessary
that the rates between all blocks shall be published
as one tariff, and be in the hands of each express agent.
It is sufficient that the express agent at every station
shall know what rates apply between his block and
each one of the other blocks. There being but 830
blocks a single sheet of paper, it is declared, will give
reference to every block number in the United States,
and alongside of this block number' there is to be
published the number of the scale of rates applying
between the block of origin and the block of destination. All of the stations within each of the blocks
are grouped as one point and thus the rates are stated
from one small group at common points known as
a block to each of the other small'groups of common
points known as a block. As, however, it would
not be practicable to publish the rate upon each
package between such blocks without producing a
tariff of great size and leading to much confusion,
rates have been determined with respect to each
package and stated in a set of scales of which samples
are furnished in the report.
The Commission recognizes that such a system of
stating rates between blocks would not be equitable
as between points situated near to each other in
adjoining blocks. Hence, a separate method of
stating rates between points in adjoining blocks is provided by dividing each block into sixteen sub-blocks
or squares numbered from A to Q (J being omitted to
prevent confusion). Rates are stated from each of
these sub-blocks to each of the sub-blocks within a
radius of two blocks or approximately 100 miles. •
In fixing rates the zone system is adopted. The
country has been divided into five grand sub-divisions.
These sub-divisions, it is pointedp.out, conform generally to those recognized by the rail carriers and which
the Commission in a consideration of freight rates
has been led to believe were based upon actual differences in operating and traffic conditions. Zone I
is the territory north of the Ohio and the Potomac
and east of the Mississippi, in which there generally
obtains a lower grade of freight rates and passenger
rates and express rates than elsewhere throughout
the United States and in which the population is most
dense and traffic most abundant. Zone II lies below
Zone I. To the west of the Mississippi lies Zone III,
which generally takes slightly higher rates than ,the
206
THE CHRONICLE
Southern territory. This zone also includes the
Peninsula of Michigan as well as a portion of Wis!aonsin, because the conditions here more nearly meet
ehose immediately ,west of the Mississippi than the
,conditions obtaining in the territory immediately
adjacent in Zone I: To the west of Zone III, which
extends as far as Denver, lies the great inter-mountain
country, which as yet is but sparsely populated and
as to which rates distinctly higher than rates obtaining in any of the :Eastern territories are allowed.
This is designated as Zone IV. The belt of States
running along the Pacific Coast is set apart as Zone V.
Whether the zone system as: here devised is on
the whole fair and equitable as between different
sections and different communities and is just for
the carriers, we do not profess to- know. On account
of the intricacies of. the subject even experts in such
matters might hesitate to express an opinion. .That
the rates themselves, as arrived at by the block and
zone systems, involve radical reductions is evident
from the elaborate comparions furnished in the report
between existing rates and proposed rates in all the
different parts of the country. •
On packages between forty-nine and fifty pounds we
find such reductions as from $2 50 to $2 10, from
$3 to $2 17, from $3 to $2 32, from $3 50 to $2 60,
from $4 to $2 70, from $.80 to $.60, from $1 to 85c.
from $2 25 to $1 75, from $4 25 to $3 15, from $4 50
to $3 25, &c., &c. In some instances the application
of the graduated scale which is used for the purpose
of simplicity yields slightly higher rates than the
existing rates, but that happens in relatively few
instances and the general effect of the new rates will
be .to work a tremendous reduction in the revenues
of the express carriers.
We repeat we can find nothing in the report that
furnishes any substantial warrant for the making of
such inroads upon the revenues of the companies.
Data regarding the express carriers are obviously
much less definite and certain than in the case of the
• railroad companies, but the summaries furnished
by Commissioner Lane with reference to the results
. for all the different express companies combined
make it clearly apparent, first, that existing rates
do not yield an excessive or inordinate profit on the
business, and, secondly, that the aggregate total of
profit is by no means extensive and hence there is
very little margin to encroach upon. We give herewith verbatim what Commissioner Lane has to say
•concerning the general operating results of the express
companies.
"Last year (the fiscal year 1911) the 13 express
companies before us had a gross transportation income
of $149,311,485, out of which they paid to the railroads $73,956,455, leaving to themselves $75,355,030.
Their operating expenses amounted to $67,996,759.
Thus, after the deduction of all expenses connected
with the operation of the express company as such
there remained a net operating revenue of $7,358,271.
There are bookkeeping intricacies involved in the
statement of operating expenses which it is not
necessary for us here to discuss. The net figure given
allows a 6 per cent return upon all of the property
as used by the exrepsss company in the rendering of
express service ($27,163,869); makes no deduction
for services rendered to the railroads, includes the
allowance of all taxes, accepts the estimates without
. question of the express companies as to the cost of
their outside enterprises, such aS. handling of investments and money-order business, accepts all charges
made by the, express companies for new equipment
as proper operating expenses; in. short, it is based
[VoL. Lxxxxv.
upon the figures of the companies themselves as operating express companies.
We find thus, that out of every dollar taken in
over the counter of an express company it expends
in round figures 50 (49.53) cents for rail transportation,
45 (45.54) cents for all of its operating expenses,
taxes, return on value of all property used,including
speculative realty, and retains as profit out of each
dollar of gate receipts 4.93c. The figures given, of
course, are for all of the 13 comparies."
It will be seen that, according to Mr. Lane, the
thirteen express companies in the fiscal year 1911
had a gross transportation income of $149,311,485
and that the net operating revenue to the companies
from this business was $7,358,271. In other words,
the profit was less than 5% on the volume of business
done or (as Mr. Lane puts it in the second paragraph
of the above excerpt) out of each dollar of gate receipts,
4.93c. was retained by the express companies as
profit. What merchant among all those who have
complained of express charges would be willing to
conduct his business in the long run on such a narrow
margin of profit? To be sure, Mr. Lane undertakes
to cast doubt upon these general results by saying they
are ."the figures of the companies themselves." But
we may be certain that if the Commission and its
corps of accountants had been able to discover any
substantial inaccuracy in the figures, there would
have been not the slightest hesitation to point out
the fact. The investigation extended over a period
of about three years and we observe that Congressman
Jonathan Bourne Jr., in his report to the sub-committee on Parcels Post of the Senate Committee on
Post Offices and Post Roads states that this investigation has been conducted "at an expense to the Government of about $200,000." The fact, therefore, that
the Commission is unable to point out any flaw in
these general results may be taken as proof positive
that no flaw exists.
The railroads are as much interested as the express
companies in seeing that the express carriers are not
unfairly dealt with, because their compensation for
the transportation services rendered in carrying
express matter is based on a percentage of the amounts
charged—the railroad company usually taking fifty
per cent of what the express carrier gets. The Commerce Commission is all the time scaling down freight
rates on the railroads. If, in addition, the roads are
to suffer loss in their revenue from the express business,
this will be one more hardship calculated to check the
flow of capital into railroad investments.
BUILDING OPERATIONS I N JUNE AND THE
HALF-YEAR.
Notable activity in building operations continues to
be a conspicuous feature of current developments in
the United States, the aggregate intended outlay
provided for under the construction plans announced in
June 1912 practically equaling that for May and
exceeding that for the corresponding month of any
former year. Furthermore, the total for the half-year
is of such magnitude as to set a new high record for
the period covered. It is a noteworthy fact, too, that
the activity has been quite general, extending into
every section of the country, if not into every locality,
giving steady employment to a very large labor force,
and not checked to any appreciable extent anywhere
by strikes or kindred disturbances. There is reason to believe, also, that recent construction work has not been
based, as was unfortunately the case in some rapidly
JULY 27 1912.]
THE CHRONICLE
207
If we werein doubt as to the phenomenal growth in.
growing sections in the past, upon too optimistic views
ularly in western sections), the building
of future demand for structures, with the consequent Canada (partic
returns from there would serve effectually to dispel it.
result of over-building.
In
practically every direction building operations are
Our compilation for June embraces 130 leading
on at an unprecedented rate, and such has been
for
going
cities, of which number 70 report plans calling
for some months past: For June the returns
case
these
the
of
larger disbursements this year than last, and
in the eastern portion of the Dominion
no less than 15 show intended expenditures in excess from 22 cities
large augmentation in expenditure
of 1911 by over 100%. Most of these latter, of course, denote a very
this year, and the aggregate for the six
are among the smaller municipalities, but Buffalo, arranged for
,127, contrasts with $29,491,836 a
Washington and Milwaukee are included in the fifteen, months, at $35,925
26 millions in 1910. Western
barely
and
Los
year ago
and Chicago, Detroit, Hartford, Kansas City,
17 have reported for June, and
of
the
es.
number
to
cities
increas
Angeles and Indianapolis also exhibit large
million dollars in excess of
.53/
a
total
furnish
they
ction
constru
Boston, where phenomenal activity in
comparing with $8,798,115) and
work had been a leading feature for many months 1911 ($14,237,461,
8% millions greater than in 1910. The half-year
previously, made somewhat of a pause in June. The
the aggregate,at $55,425,682,contrasts with $38,980,130
expected cost of the operations arranged for in
100 and $27,129,555, respectively. As an example of the
month of 1912 at the 130 cities aggregated almost
in growth in progress in that Western country it is only
million dollars ($99,807,274), against $94,680,241
necessary to cite the fact that the building projects in
various
1911 and $87,762,759 in 1910. Of the
alone for the six months this year involve
boroughs of Greater New York, Manhattan and the Edmonton
ture of $7,775,792, against only $1,620,431
Bronx show moderate gains, but these are offset by the expendi
676 in 1910. For the Dominion
losses in Brooklyn and Queens, leaving the aggregate in 1911 and $1,054,
the June total is 22% millions,
for the whole city 213 millions, which contrasts with as a whole (39 cities)
year, and the aggregate for
last
s
22% millions last year and 183/i millions two years ago. against 15% million
$91,350,089, against $68,is
1
Jan.
Exclusive of Greater New York, the permits issued in the period since
,367.
$53,100
6
and
,471,96
June, if carried out, will entail an outlay of $78,348
552, against $71,825,267 in 1911 and $69,316,844 in
BANKING, FINANCIAL AND LEGISLATIVE NEWS.
1910.
—The public sales of bank stock this week aggregate
The June -exhibit, however, while favorable, would 88 shares. The sales were all made at the Stock Exchange
not by itself furnish convincing evidence of the situa- and were all of National Bank of Commerce stock. No trust
y stocks were sold.
tion of the building trade. But the results for the companBANK—N
Last previous sale.
Low. High. Close.
ew York.
Shares.
in
the
As
ctory.
satisfa
less
no
are
1912
of
1973 197M July 1912— 1983(
year
half88 Commerce, Nat. Bank of____ 197
case for June, the six months' compilation covers 130
—The Democrats of the House of Representatives at
and
cities, and among them gains and losses, as compared Washington held a caucus Wednesday night, July 24, proips"
battlesh
"no
their
d
to
adhere
propose
to
62,
the
but
to
;
70
voted,
with 1911, are about equally divided
gram in the Naval Appropriation Bill. It had been
outlay aggregates $496,590,054, against $451,264,935 hoped that the caucus would approve a compromise with
in 1911 and $463,543,987 in 1910. Greater New the Senate under which the House would agree to the buildYork's operations were 20% more than for 1911 ing of one new battleship. The Naval Appropriation Bill
($126,293,588, against $105,178,384), with Queens has been in conference for some time and the caucus of the
view to breaking
the only borough registering a loss. Outside of this Democratic members was called with the
with reference
houses
two
the
k
between
deadloc
existing
the
6,466,
city the new half-year record mark set is $370,29
though
Senate,
The
ips.
battlesh
new
of
tion
construc
the
to
this contrasting with $346,086,551 last year and strongly in favor of the construction of two new ships, was
$343,501,135 two years ago.
willing to compromise on one new Vessel this year, but exs
section
the
in
on
several
situati
the
pressed its determination not to recede further. A majority
A brief survey of
we
d
New
In'
Englan
those present, however, at the caucus insisted that the
.
of
interest
may not be without
atic pledges of economy in Governmental administraDettiocr
find that 13 of the 21 cities from which returns are tion made it imperative that the. naval program as approved
at hand report smaller figures than in 1911; but; owing by a previous House Democratic caucus should not be devito a large increase at Boston, and smaller gains at ated from. Accordingly, the House conferees will refuse
from
Hartford, Bridgeport and Springfield,the total for the their assent to the proposition that the House recede
to the Naval
ent
amendm
Senate
the
•
to
The
ement
its
year.
disagre
last
whole group is much greater than
is
Appropriation Bill providing for two new ships, There
aggregate for 28 cities in the Middle division (exclusive talk,
another caucus of the House Demoof
calling
,
however
of New York) on the other hand, is nominally less crats
than for 1911, declines at Philadelphia, Pittsburgh,
—U. S. District Judge Cornelius H. Hanford, whose conBaltimore and Newark more than offsetting large gains duct has been under investigation by the House Judiciary
President
at Buffalo, Albany, Rochester, &c. In the Middle Committee, on July 22 sent his resignation tos were
still
witnesse
some
while
was
This
wire.
by
an
Taft
present
s
West the 24 cities our statement include
the
in
ee
y
Committ
Judiciar
the
before
testify
to
waiting
aggregate well in excess of a year ago, Chicago, Detroit, proceedings instituted against him. The press dispatches
Milwaukee and Toledo standing out prominently in state that preceding the hearing.on Monday morning a
the matter of augmentation, and Cincinnati showing series of conferences took place between the Committee
s. The proposal that Judge
the only noteworthy loss. At the South the result for and Judge Hanford's attorney
be discontinued was subhearings
the
and
resign
Hanford
24 cities is a little less satisfactory than for 1911, due
s and accepted by the
's
attorney
Hanford
mitted by Judge
primarily to large decreases at Dallas, Fort Worth Committee. A sub-committee of the full Judiciary Comand Oklahoma City. On the Pacific Slope, however, mittee has been conducting the inquiry at Seattle and Chairmuch more activity has prevailed this year, a majority man Graham of the sub-committee consulted by wire with
Clayton of the House Judiciary Committee, ad,
of the cities reporting operations of greater magnitude, Chairman latter
of the situation and recommending that hearthe
vising
with San Diego, Los Angeles and San Francisco the ings be discontinued. Mr. Clayton gave out a statement
principal gainers. The "Other Western" group of 19 saying that,while Congress has the power to try a Federal
cities shows an aggregate only very slightly less than official for itnpeachment even after such official has resigned,
present. infor 1911, although the twin cities (Minneapolis and he did not believe that course necessary in the
added:
Clayton
Mr.
stance.
St. Paul) report a material decrease in activity.
ftO
THE CHRONICLE
VOL. xxxxxv.
-a
• The main object ofimpeachment, being to get rid of an unfaithful officer,
of March 3 1903,'for completing:the census- of the Philippine /Wands,$351,having been accomplished in this case by the resignation of Judge Hanford,
925. This makes a:total cost of $3,451,925, and there has been no other
If It is true that he was unfaithful, there seems to be no necessity for imdirect expenditures from pnblic funds of the United States because of the
peaching him in order to disqualify him from hereafter holding any office Philippines
not subsequently repaid from the Philippines revenues. This
of honor or profit under the United States. • I take It that no President
shows that the Islands are fully self-sustaining under tho American adwill ever appoint him and no constituency would ever elect him to any
ministration of them.
office of honor or profit. Of course, there will be no formal action on the
"On the other hand," the President says,"there was expeaded from revepart of the Committee of the 'Judiciary until a report is made by the subnues of the Philippine Islands from 1898 to 1900 in the execution of the
committee which I appointed to investigate the alleged misconduct
•
of direct military purposes of the United States a total of $4.975,747, for
Judge Hanford.
which no reimbursement to the Philippines has been made.
Later the Judiciary Committee was adVised by the At"Tills leaves a difference in direct expenditures in favor of the Philiptorney-General that President Taft was withholding his pines of $1,523,822.
"Whatever cost has accrued to the United States in addition to tile direct
acceptance of Judge Hanford's resignation until the Presi- expenditures
above cited as a result
the occupation of the islands has
dent learned whether such action would interfere with any resulted from the military and navalofoperations
in and about the archiplans the Committee might have for continuing the impeach- pelago and from the construction of fortifications and naval siations thereon.
The
President
continties:
"There
can
be
no
estimate
made of this exment proceedings against the Seattle Judge. Mr. Clayton penditure with
any degree of accuracy."
pointed out that the Constitution provides'that the DepartThe President refers the House to the reports of the Secretary of War,
ment of Justice need not stop with the impeachment pro- sent to the Senate in response to a resolution of April 17 1902, asking for
same information.
ceedings of the legislative branch of the Government. The this
"These reports of the Secretary of War set forth tile date desired for the
Department may proceed to institute criminal proceedings periods indicated as accurately as was then possible, and show the diffiif the evidence shows that there has been malfeasance in culties attending compilation of data of the kind desired and the impossibility of securing accurate results."
office. Judge Hanford was the first Federal Judge apHe says the same difficulties exist, Intensified by the changing condipointed after Washington was admitted to statehood twenty- tions during the period that has since elapsed, and make the problem presented
by the House resolution virtually insoluble.
three years ago. In a statement to the public issued im"Aside from direct appropriations of Congress," ho concludes, "the exmediately after he had sent in his resignation, Judge Han- penditures incident to military and naval
operations and the support of the
ford said:
United States forces in the archipelago, the Philippine Islands have been in
no
way
charge
a
against
r The almost constant strain under which I haveiworked for more
the United States Treasury. In other words, the
than Philippines Government
has been entirely self-supporting. Moreover, It
twenty-two years has taxed but not exhausted my power of endurance.
I has been throughout
self-supporting in a larger sense than any other
am not likely to have a vacation of rest, but a change of occupation
will territorial possession
of the United States.
bring relief. / intend to practice law in Seattle.
"All expenses attached to the collection of revenues, to the administra •
IIIIIn the investigation which has been conducted by a sub-committee of the
House of Representatives much testimony has been offered by witnesses tion of the Post Office Department and of course to the survey of the islands,
who know me and by others who do not. I am grateful for the commenda- to the conservation of their resources and to the improvement of their rivers
tion of those`ivho have spoken and written in my -favor; and as for those and harbors, and to all similar works, which elsewhere, as in Porto Itico,
who have maligned me, I only wish to say that I would be ashamed of my- Alaska and the Hawaiian Islands, arc a charge against the national Treasury, are and have been paid from the revenue of the Philippine Islands."
self if I had not incurrea tne enmity of such people as they are.
A judge is never so sure of being right as when his worklhas been criti—The United States Senate on Thursday ofilthis week
cized unfairly. Without boasting, in view of all that has been and may
be (July 25) voted down the Underwood Bill revising the wool
said of and concerningimyself and_my work, l_am_glad.that my
record is
schedule of the tariff, which had passed the House of Reprewhat it Is.
Dismissal of the impeachment proceedings was con- sentatives on the first of last April. In substitution for the
sidered by the Judiciary Committee on July. 24, but it was same, the compromise bill passed last year with the aid of
thought best not to take formal action until the return Senator La Follette and the Republican insurgents was
to Washington of the. sub-committee which had been con- adopted. The result was a surprise and was the outcome of
ducting hearings atiSeattle.
a prolonged session of the Senate. The Democrats rallied
—Formal sentence was'imposed on July 23 in the District to the support of La Follette after their own Underwood Bill
of Columbia Supreme Court on John Mitchell, Vice-President had been defeated. It was then that La Follette offered the
of the American Federation of Labor, in the contempt pro- measure passed last year and secured its passage with tile aid
ceedings growing out of the Bucks Stove & Range Co. case. of ten insurgent Republicans and the solid Democratic
Justice Wright fixed the sentence at nine months, the same phalanx, the vote being 40 to 28. An adverse report on.the
as imposed by him in the original proceeding before the case Underwood Bill had been ordered by the Senate Finance
was remanded back to the District Court. Samuel Gompers Committee on May 23. The first vote on Thursday was on a suband Frank Morrison, respectively President and Secretary stitute measure offered by Senator Cummins and representing
of 'the American Federation of Labor, had previously re- the views of most of the insurgents. Mr. Cummins declared
ceived their sentences, Mr. Gompers getting twelve months that his bill followed closely the recommendations of the Tariff
and Morrison six months. Mr. Mitchell was not in court at Board in its report. He argued that the Underwood Bill
the time. Nor was he in court the present week, but he made an average reduction of about 35% in the woolen
sent a written statement waiving his right to be present. schedule of the existing law, while his bill provided for duties
Appeals have been noted from the sentences 'of conviction about 10% higher than the Democratic bill. The Cummins
in all three cases, and meanwhile the condemned labor leaders bill, however, was defeated by a vote of 57 to 14. Practically all the progressives voted for it, but all the Democrats
are out on bail.
• —The Federal Government is proceeding even against and the bulk of the Republicans voted against it. After this
Chinese laundrymen for conspiracy in efforts to restrain there came a surprise in the fact that Senator Penrose, acting
trade. Press dispatches from Washington on July 19 stated in behalf of the majority of the Senate Finance Committee,
that the Federal Grand Jury had returned an indictment that quite unexpectedly offered a bill which, it was understood,
day against five laundrymen cnarging them with conspiracy would receive the approval of President Taft if sent to him.
There had been suggestions that a Republican substitute
to defraud the United States by shutting off competition on
contracts to do its laundry work. The alleged conspiracy, of this kind might be proposed, but only a few Senators
it is stated, was in connection with bids advertised for the had seen the bill or knew its provisions. Mr. Penrose
washing of towels in the various departments of the Federal made some remarks in defense of this bill, arguGovernment for the current fiscal year. An inquiry de- ing that it involved important reductions in the
veloped the fact that the bids were double those of the pre- present tariff rates on wool and woolen products. On blanceding fiscal year. The indictment charges that the laundry- kets, he contended, the reduction would be from 12 to 24%
men agreed on prices and then apportioned the departments on the higher grades and almost 50% on the cheaper grades.
The tariff on yarns would be cut all the way from 8 to 45%,
among themselves.
the actual reduction depending upon varying conditions in
—In response to a resolution of the House of Representathe market. The duty on wool tops would be reduced from
tives adopted on Jan. 25 last, President Taft on July 19 sent
35 to 50%. "Nevertheless," said Senator Penrose, "it is
a- special message asserting that' the Philippine Islands are
believed it will still afford adequate protection to the two
self-supporting and do not impose any heavy burden upon
great industries—wool growing and wool manufacturing—
the people of this country. The conclusion of the Presithat if it should be enacted into law it would enable the
dent is that, aside from direct appropriations of Congress and
farmers and the manufacturers and wage earners engaged in
amounting to $3,451,925 and the support of the United States
this industry to continue to derive their livelihood from those
forcesin the archipelago, the Philippine Islands "have been in
pursuits, and at the same time would meet the demands on
no way a charge against the Treasury of the United States."
the part of consumers for a revision of the woolen schedule.
The substance of the message is contained in the following:
This bill is an attempt to make the duties on wool and woolen
The total expenditure Involved in the matter of the Philippines as augoods conform as nearly as possible to the information on
thorized by Congress has been as follows:
By Act of March 3 1901, to carry out the obligations of the treaty of that subject which has been furnished
in the recent report of
Nov. 7 1900, covering the cession by Spain to the United States of certain
Tariff Board." He further explained that the reducsmall:Islands belonging to tile Philippine archipelago lying outside the lines the
described in the Treaty of Paris, $100,000. By the Act of March 3 1903, tions in the bill ran from 10% on some of the higheror the relief of distress in the Philippine Islands, $3,000,000. By,the_Act priced woolen goods tons
much as 125% f.on the lower
JULY 21 1912.]
THE CHRONICLE
209'
be
Commerce Commission, and notice will
vigorously expressed by the Inter-State
Democrats
grades. The
cheaper
and
served on other carriers to take similar action on bills of lading issued in
opposed the bill, and some of the Republican connection with Galveston terminal lines.
W. F. McCLURB, Chairman.
insurgents criticized the action of Mr. Penrose in presenting
—A Clearing-House Association, embracing the six finanit before an opportunity had been afforded Senators to become acquainted with its provisions. Mr. Penrose in ex- cial institutions in the town, has been formed in Montclair,
planation said that he had had his bill prepared in June, N. J. The officers are: President, Ralph Crane, Vice• but had not thought there was any chance of its passage President and Treasurer of the Montclair Savings Bank; Vicein the Senate, and accordingly had not made it public be- President, Frederick W. Dunbar, President of the First
fore. On Mr. Penrose's motion in Committee of the Whole National Bank of Montclair; Secretary, Charles H. Du
to substitute his bill for the Underwood bill, every Demo- Buisson, Assistant Cashier of the Bank of Montclair. It is
crat voted against it. On the other hand, all the Repub- stated that the two banks in Caldwell, the one in Glen Ridge,
licans voted for it, including the insurgents, excepting Sen- and the three financial institutions of BlOomfield may
ator Clapp of Minnesota, Mr. Kenyon of Iowa and Senator eventually enter the Montclair association.
La Follette. The vote was 34 in favor of the Penrose sub—A Court decision sustaining the requirement calling for
stitute and 32 against it. Senator Cummins then offered the filing of returns under the Corporation Tax Law by coras a further amendment the insurgent bill of last year pro- porations having a net income of less than $5,000 per annum
viding for a permanent tariff commission instead of the pres- was rendered by Judge Thomas S. Chatfield of the United
ent tariff board. This passed by 40 to 26. An amendment States District Court for the Eastern District of New York
by Mr. McCumber of North Dakota, however, proyiding for on June 22. A synopsis of his findings is contained in "Treasrepeal of Canadian reciprocity, which had already been ury Decisions" of July 11, and we re-print it as follows:
attached to the Steel bill, was defeated by 30 to 36. Then SPECIAL EXCISE TAX ON COUPORATIONS—RETTJRNS—COURT
DECISION.
Senator La Follette's proposal to adopt the bill passed last
year and vetoed by President Taft came up. As already 1. Returns.
Corporations having a net income of $5,000 or less are not exempt from
stated, the Underwood bill having been defeated, the Demo- the requirement that a return be made to the collector of tho district.
preferLa
Follette,
Mr.
of
support
crats now flocked to the
2. Penalty.
The minimum penalty for failure to comply is $1,000.
ring his substitute to the Republican measure. Accordingly
3. Verdict.
Republican
10
of
the
vote
receiving
it
was
adopted,
bill
the
Motions to set aside the verdict denied.
insurgents, namely: Senators Borah, Bristow, Clapp, Craw- 4. Remedy.
No remedy (other than appeal) except by compromise.
ford, Cummins, Gronna, Kenyon, La Follette, Poindexter
committees
Treasury Department.
conference
to
goes
bill
now
The
and Works.
Office of Commissioner of Internal Revenue.
of the two Houses.
Washington. D. C., July 1 1912.
The appended extract from decision of District Judge Thomas S. Chat—The postal savings-bank system will be further extended
in the case of the United States v. Acorn Roofing Co. and four other
in Brooklyn Borough on Aug. 1, when seven additional post- field,
corporations, In the United States District for the Eastern District of New
additions,
these
York, is published for the information of collectors of internal revenue and
offices will be opened as depositaries. With
the system will embrace all the carrier stations in that others concerned.
ROYAL E. °ABELL, Commissioner.
borough, making a total of twenty-two postal savings banks
inbe
will
system
the
United States District Court,
in Brooklyn. The stations at which
Eastern District of New York, Juno 22 1912.
augurated the coming month are as follows: Bath Beach
United States v. Broadway Bowling
Co.,
Roofing
Acorn
v.
Stales
United
Station, 1848 Bath Avenue, Blythebourne, 13th Avenue and
Academy, United States v. Dessner & Co., United Stales v. Fein-Ball
West
opposite
Realty & Construction Co., and United States v. Finkel de Co.
55th Street, Coney Island, Surf Avenue,
Chatfield, District Judge: In the cases before the Court, actions have
17th Street; Sheepshead Bay, 1780 Shore Road; Fort been
brought against five corporations to recover, in suits at law, the
and
Street
47th
Y,
Hamilton, 9110 Fifth Avenue; Station
penalty, provided by Act of Congress of Aug. 5 1909, Chapter 6. Section 38
of the Court the
Gravesend Avenue, and Vandeveer, Flatbush and Nostrand (36 Stat. 112), for failure to file returns. By direction
in each case has found a verdict and has fixed the amount of penalty
Avenues. In Manhattan and Bronx boroughs deposits may jury
at the minimum, viz., $1,000.
be accepted at any post-office except those at Pelham,
The facts shown by the record in the five cases do not differ so far as
the present question is concerned. Each of the five corporations was
Pelham Manor and City Island.
under the laws of the State of New York and either was doing
It is stated that Secretary MacVeagh is preparing to issue organized
or was authorized to do business during the year 1910. None of them
$854,860 in postal savings bonds to depositors in postal banks made the return required by the statute by March 1 1911, nor did any one
Secretary
who wish to convert their savings into 20-year 23% bonds. obtain any extension during the 30-day period or apply to the
the Treasury to compromise their obligation for failure to comply with
The new issue will be the third in the series and will bring of
ultimately
has
the
defendant
however,
cases,
the statute. In each of the
the total outstanding amount of postal savings bonds up to filed a report showing the net income received by it during the calendar
year 1910 did not amount to the sum of $5.000, and in one instance at
$1,314,140.
least the evidence shows that the defendant did no business whatever
—In a ruling bearing on the law imposing a tax of 2 cents beyond keeping itself in existence during that year.
The statute provides that each corporation "now or hereafter organized"
per $100 on transfers of stock, Attorney-General Carmody of
be subject to pay, &a. This clearly makes every corporation not
New York State has decided that in general the word shall
actually dissolved or legally out of existence subject to the provisions of law.
parliving
between
transactions
"transfer" has reference to
The next question presented is whether every organization admittedly
a corporation, joint-stock company or
ties and not to cases of devolution of title by death. He within the classes defined, viz.,and
having a capital stock represented by
association organized for profit,
states that: "Accordingly, where on the death of one of shares, and every insurance company, except the particular ones exempted,
the
such,
as
is liable to the duty of making the annual return specified by the statute,
several testamentary trustees holding stock
whether only those who enjoyed a sufficient net income to make them
certificate is surrendered and issued to or in the name of the or
iable to the payment of the annual tax, are under obligations to make
the
to
pursuant
appointed
trustee,
a
or
substituted
survivors
the return.
This question was first passed upon, for the guidance of the Treasury
provisions of the will, the transaction is not a transfer and is
Department in administering the law, by an opinion of the Solicitornot subject to a tax."
General, issued upon the 7th day of August 1911, and approved by the
—The Galveston Bay lines, it is stated in the Galveston Attorney-General.
•
•
•
•
•
•
•
papers, have announced their intention of again issuing
In the case of the United States v. Military Construction Co., decided
through bills of lading via that port on outward-bound by the United States District Court for the Eastern District of Missouri,
traffic, subject to certain regulations. Their discontinuance and published as T. D. 1774 (not yet reported), and the same question
the present case was considered by the Court and the
occurred on June 20, and was said to have been occasioned as Is presented in honorable
Solicitor-General were followed for the reason
conclusions of the
by the recent decision of the steamship companies no longer that the application of the war tax was considered to have been in the mind
to pay demurrage on through bills of lading accruing at of the Congress when passing the present statute.
•
•
•
•
Galveston and to withdraw, beginning June 22, the demurrThe minimum penalty for the wrongful act is $1,000 and the maximum
age agreement formerly in force between their companies penalty is $10,000. A wilful act of this sort Is also made a misdemeanor,
and the Galveston rail lines governing freight on through and the law provides that the tax shall be increased by one-half, and shall
if a return is not made by a certain time. It also provides
bills of lading. The Galveston "News" prints the following bear Interest
that the Commissioner of Internal Revenue may prepare the return after
issuance
under
conditions
the
which
the
indicating
telegram
investigation and fix the tax. The language of this section, giving auof the through bills is resumed:
thority to investigate upon report that a corporation "has failed to make
return as required by law" is pertinently pointed out by the Solicitor as•
Galveston, Tex., July 5.
Indicating that every corporation is bound to make such return, even if
W. N. Nolly, Secretary Cotton Exchange, Dallas, Tex.
to make it liable for the tax.
In order to accommodate shippers of cotton and other commodities who not showing business
If the provision for an addition of 100% for false return, or 50% for
desire to handle their business on through bills of lading. Galveston terminal
were not based upon the amount of the tax
interest,
added
lines have to-day decided to resume issuance Of through bills of lading neglect, with
amount of income taxable, It would be possible
effective on legal notice under the following plan: Export bills of lading instead of the minimum
penalty for neglect, or honest belief that a return was
via all ports will carry clause in effect as follows: "Subject to additional to treat this as the
of the present situation could be avoided.
charges on account of demurrage which may legally accrue at the port not necessary, and the difficulties
But such is not the case. The law has provided but the one penalty;
named herein under car service rules in effect at such port and on file with
where jury trials have been had In civil
the Inter-State Commerce Commission." This is in accord with the views and in the present instances,
210
THE CHRONICLE
actions, the verdict must provide the amount of the penalty, and nothing
less than the minimum amount, $1,000, can be found.
The present Motions, therefore, which have been considered to set aside
the verdict of $1,000 In each case, must be denied and the various corporations can have no remedy (other than appeal) except to apply, as is indicated in the opinion of the Solicitor-General as above quoted to the Commissioner of Internal Revenue or the Secretary of the Treasury for a compromise of the Government's claim under Sections 3229 and 3469 of the
Revised Statutes.
[VoL. Lxxxxv.
House of Representatives July 16 by a vote of 95 to 25, and
was referred to in this department last Saturday:
AN ACT
To prohibit interference with commerce among the States and Territories
and with foreign nations, and to remove obstructions thereto, and to
Prohibit the tranarnisslon of certain messages by telegraph, telephone,
cable, of other means of communication between States and Territories
and foreign nations.
Be it enacted by the Senate and House of Representatives of the United
—The program for the formal organization of the InvestStates of America in Congress assembled, That certain words used in this
ment, Bankers' Association of America, which will be held Act and in proceedings pursuant
hereto shall, unless the same be inconin New York at the Waldorf-Astoria on Aug. 8, has just been sistent with the context, be construed as follows: The word "message"
shall mean any communication by telegraph, telephone, wireless telegraph,
announced, and we publish it below. In last week's issue cable, or other means
of communication from one State or Territory of the
of the "Chronicle" (page 151), we referred to the purposes of United States or the District of Columbia
to any other State or Territory
of
the
United
States
or
the District of Columbia or to any foreign country.
the new association. George B. Caldwell, Chairman of the
The word "person" shall mean any person, partnership, joint-stock comorganization committee, advises us that a special Pullman pany,,society, association, or corporation,
their managers and officers,
car will be attached to the 20th Century Limited on the and when used with reference to the commission of acts which are herein
required
or
forbidden
shall include persons who are participants in the
Lake Shore, leaving Chicago at 2:30 p. m. Aug. 7, for the
required
forbidden acts, and the agents, officers, and members of the
accommodation of the Western bankers interested in its boards ofordirectors
and trustees, or other similar controlling or directing
formation. Favorable replies have been received from 90% bodies of partnerships, joint-stock companies, societies, associations and
of the banking houses to whom letters were sent, the writers corporations. And words importing the plural number, wherever used,
may be applied to or mean only a single person or thing, and words importstating their intention to be represented at the meeting.
ing the singular number may be applied to or mean several persons or things.
Sec. 2. That It shall be unlawful for any person to send or cause to be
CONVENTION PROGRAM OF INVESTMENT BANKERS' ASSOCIAsent any message offering to make or enter into a contract for the purchase
TION OF AMERICA, WALDORF-ASTORIA, NEW YORK,AUG.8.
10:00 A. M.—Secretary's office will be open at the Waldorf for the regis- or sale for future delivery of cotton without intending that such cotton
shall be actually delivered or received, or offering to make or enter into a
tration of delegates.
10:30 A. M.—Meeting of the Organization Committee in the Astor Gallery contract whereby any party thereto, or any party for whom or in whose
behalf such contract Is made, acquires the right or privilege to demand in
2:00 P. M.—Convention called to order by Chairman Caldwell.
the future the acceptance or delivery of cotton without being thereby
Report GA the Organization Committee submitted.
obligated to accept or to deliver such cotton; and the transmission of any
Appointments will be made of the following committees:
message relating to any such transaction is hereby declared to be an interCommittee on Credentials.
with commerce among the States and Territories and with foreign
ference
Committee on Constitution and By-Laws.
nations. Any person who shall be guilty of violating this section shall,
Committee on Nominations.
Following which the convention will be addressed by prominent men upon conviction thereof, be lined In any sum not more than one thousand
dollars nor less than one hundred dollars, or shall be imprisoned for no
on subjects pertaining to the bond and Investment business.
6:00 P. M.—Banquet at the Waldorf, after which the reports of the more than six months nor less than one month, or by both such fine and
imprisonment, and the sending or causing to be sent of each such message
committees will be received, followed by the election of officers.
shall constitute a separate offense.
Adjournment.
Sec. 3. That It shall be the duty of any person sending any message
—N. W. Harris, of Harris, Forbes & Co. and the Harris relating to a contract or to the making of a contract for future delivery
Trust & Savings Bank of Chicago, comments in an interesting of cotton to furnish to the person transmitting such message an affidavit
that he is the owner of such cotton and that he has the intention
way on conditions abroad in a newspaper interview given stating
to deliver such cotton; or that such cotton is at the time in actual course
out the present week. We quote as follows:
of growth on land owned, controlled or cultivated by him, and that he has
Having just returned from a tour of two and a half months In Austria, the intention to deliver such cotton; or that he is, at the time, legally
Germany and France, and conferred with some of their financiers, I am entitled to the right of future possession of such cotton under and by
especially impressed with the great development in Germany during the authority of a contract for the sale and future delivery thereof previously
past few years, particularly in its industries, in public improvements, fine made by the owner of such cotton, giving the name of the party or names
new private residences in its cities and villages, new hotels and business of parties to such contract and the time when and the place where such
blocks. The development In the cities has been as extensive as in our own contract was made and the price therein stipulated, and that he has the
American cities, and even more so in some resnects. All these improve- intention td deliver such cotton; or that he has the Intention to.acquire
ments have reouireci the Investment of large amounts of fixed capital, and, and deliver such cotton; or that he has the intention to receive and pay for
from a financial standpoint. I think this investment has been more rapid such cotton; Provided, That any person electing to do so may file with
than the real increase of the wealth of the country justifies. The result is the telegraph, telephone, wireless telegraph or cable company an affidavit
that interest rates In Germany are now higher than in any other part stating that the message or messages being sent, or to be sent, for the six
of Europe. In fact, there has been a financial stringency and there may months next ensuing by such person do not and will not relate to any such
be a financial denressIon in Germany. reneating the experience we have contract or offers to contract as are described In Section Two of this Act,
and any such company shall issue thereupon a certificate evidencing the
had here In America after a too ranid deveionment.
The Germans are now very desirous of enlarging their foreign markets, fact that such affidavit has been duly filed, and such certificate shall be
accepted
in lieu of the affidavit herein required at all tile transmitting
especially as they are over-nroducing and need a larger outlet for their
manufactured goods. There are many inniiential people in Germany who offices of such company during the life of said affidavit. Any person who
are desirous of new colonies for deveionment by the German peonle. They knowingly shall make a false statement In any affidavit provided for in
hoped to secure a large °netting in Morocco, but last summer the Govern- this Act shall be punished by a fine of not more than five thousand do ls.rs
ment was obliged to withdraw their demands. They are rapidly increasing nor less than five hundred dollars, or shall be imprisoned for not more than
their army and navy to take advantage of any opportunity to enlarge their two years nor less than one year, or by both such line and imprisonment.
And in any prosecution under the provisions of Section Two or Three of
dom in ions.
In France the business situation is entirely the reverse of that in Germany. this Act the proof of failure to make any affidavit herein required shall be
visited several imnortant provincial cities of France, and In practically prima facie evidence that said message or messages related to a contract
all there was no marked increase in the development of their industries prohibited by Section Two of this Act, and the proof of failure to deliver
or in the erection of nubile or nrivate buildings. The agricultural country or receive the cotton called for in any contract for future delivery of cotton
of France is richer than that of Germany. hilt the French people are very shall be prima facie evidence that there was no intention to deliver or
saving and largely out their money out at interest and buy bonds of other receive such cotton when said contract was made.
Sec. 4. That any agent of any telegraph, telephone, wireless telegraph
nations, and the result is that they have a larger amount of gold than any
or cable company to whom messages herein described may be tendered is
other nation in Europe, and the other countries are debtors to France.
The bonds of Euronean governments have greatly declined during the hereby required, empowered and authorized to administer any oath
past fifteen years. The average decline in market value of the French, required to be made tinder the provisions of this Act with like effect and
English, Belgian. Danish. Dutch. Norwegian. Pressian. Swedish and Swiss force as officers having a seal, and such oath shall be administered without
government bonds from August 1507 to Anril 1012 was about 19%. The any charge therefor.
Sec. 5. That it shall be unlawful for any person owning or operating any
cause of this great decline In market vaine is not the want of confidence
of the investing public, but the enormous Increase in the amount of bonds telegraph or telephone line, wireless telegraph, cable, or other means of
communication,
or any officer, agent, or employee of such person, knowcreated. The Enronean Government debts alone increased during the
period above named approximately $5,700,000,000. The percentage ingly to use such property or knowingly to allow such property to be used
of increase was 66% In Germany, 47% in Russia, 26% in Austria-Hungary, for the transmission of any message relating to such contracts as are
39% in Spain and 60% in Belgium. In France the national debt was described in Section Two of this Act. Any person who shall be guilty of
lessened. The average percentage of increase, taking all the European violating this section shall, upon conviction thereof, be punished for each
countries. was 23%. Augmenting this increase in European government offense by a fine of not more than one thousand dollars nor less than five
debts is the bond outwit of the countries of the world outside of Europe, hundred dollars, and the sending of each message in violation of the proviwhich go chiefly to the financial cfties of Enrone for funds. It is estimated sions of this section shall constitute a separate offense.
Sec. 8. That every book, newspaper, pamphlet, letter, writing or other
that the private investors of Eiirone from 1507 to 1912 absorbed In new
securities from countries outside of Eurone the enormous sum of $48,600,- publication containing matter tending to induce or promote the making
000,000. All these demands for money have more than absorbed the of such contracts as are described in Section Two of this Act Is hereby
natural increase of the wealth of the country, so that a materially higher declared to be non-mailable matter, and shall not be carried in the mall or
rate of interest Is being paid to semirc funds, and a similar condition exists In delivered by any postmaster or letter-carrier. Any person who shall
this country. The facts are that a materially higher rate of Interest is knowingly deposit or knowingly cause to be deposited for mailing or
ruling over the world than was the case fifteen years ago, and with this delivery any matter declared by this section to be non-mailable, or shall
general condition existing in the nrincinal,flnancial centres of Europe, we knowingly take or cause the same to be taken from the malls for the purpose
cannot expect a decrease In the rates of interest in this country, at least for of circulating or disposing thereof, or of aiding in the circulation or disposisome time to come.
tion thereof, shall be fined not more than five thousand dollars nor less than
In England the changed conditions as to interest rates are more marked five hundred dollars, or shall be imprisoned not more than five years nor
than In other European countries excent Germany. This is caused by the less than one year, or both. Any person violating any of the provisions
action of the Liberal Government regarding the pensioning of the poor, &c., of this section may be proceeded against by information or indictment
which materially increases the taxes. The increase of the Inheritance and tried and punished either in the district at which the unlawful
publicatax, also, has an effect, and all of these conditions work to drive out of tion was mailed or to which it Is carried by mall for delivery according
to
England a very large amount of capital. As a result, the London market the direction thereof, or at which it Is caused to be delivered
by mall to
has been favorable to American securities. and I look forward to a con- the person to whom it Is addressed.
tinued good market In London for some time to come for our securities. .
Sec. 7. That the Postmaster-General, upon evidence satisfactory'
,to
—The following is the full text of the Beall Bill (H. R. 56) himself that any person in sending through the malls of the United States
any matter declared by Section Six of this Act to be non-mailable, may
prohibiting dealings in cotton futures, which passed the Instruct the postmasters in tile post-offices at which such mall arrives
to
JULY 27 1.912]
THE CHRONICLE
return all such mall to the postmaster in the post-office at which it was
originally mailed, with the word "unlawful" plainly written or stamped
upon the outside thereof, and all such mall, when returned to said postmaster, shall be returned to the sender or publisher thereof under such
regulations as the Postmaster-General may prescribe.
Sec. 8. That in any proceeding under this Act all persons may be required
to testify and to produce books and papers, and the claim that such testimony or evidence may tend to criminate the persons giving such testimony
or producing such evidence shall not excuse such person from testifying or
producing such books and papers; but no person shall be prosecuted or
subjected to any penalty or punishment whatever for or on account of any
transaction, matter or thing concerning which he may testify or produce
evidence of any character whatever.
Fourth National Bank of Nashville, the First National with
the National Bank of Virginia of Richmond, the National
Bank of Commerce with the Southwest National Bank of
Kansas City, were announced and steps taken to put through
these consolidations.
The latest announcement this week affects the Fourth
National and Atlantic National banks of Boston, which
will unite on July 29. Herbert K. Hallett, President of the
Atlantic National Bank, is expected to be head of the new
combination, which will have about $14,000,000 deposits.
$1,500,000 capital, surplus and profits of about $1,275,000,
and $19,000,000 total resources. The charter of the Atlantic National Bank will be preserved, and while no title has
been decided upon, it is expected the name of the combined
institutions will include the titles of both banks. The
late Arthur W. Newell was President of the Fourth National until he was lost in the SS. Titanic disaster. In the
meantime no one was appointed his successor, but W. N.
Homer, Cashier, was made Acting President. The Fourth
National has capital of $1,000,000, surplus and profits,
$920,000, and deposits, $9,248,000. The Atlantic National
has $750,000 capital, $700,000 surplus and profits and about
$5,000,000 deposits. On July 15 1909 the Atlantic National
absorbed the Metropolitan National Bank. The Boston
"Journal" states that the basis on which the merger will be
worked out is as follows: "The Atlantic National will distribute to stockholders a dividend of $24 50 not showing in
surplus account and retire $250,000 of its capital stock at
$190 per share, involving the payment of $475,000, and
bringing the surplus down to approximately $375,000. The
capital would then stand at $500,000 and surplus $375,000,
with a book value of $175. The Fourth National then proposes
to liquidate its capital of $1,000,000 and surplus of $900,000,
distributing $190 a share to stockholders. With this $190
a share the Fourth stockholders are permitted to subscribe
to $1,000,000 stock of the consolidated bank at $190 per
share. The Atlantic National Stockholders ill be privilegdd
to subscribe to $500,000 of the new $1,500,000 capital and
the Fourth National to $1,000,000 of the new capital." Last
Monday the Fourth National moved from the Board of Trade
Building to larger quarters in the Exchange Building on
State Street, corner of Kilby, where the consolidated institution will begin business next Monday. This latest consolidation in Boston reduces the number of banking institutions
to 22—the smallest number in many years—and the clearinghouse banks to 16, the lowest figure in the banking history
of Boston. In 1881 there were 62 separate national banks in
Boston with a combined capital of $53,850,00.0, while to-day,
after die Fourth-Atlantic merger, the number of banks is
22 and capital account is $32,050,000.
—The Farmers' Loan dr Trust Co. of New York has appointed Bertram G. Grice its representative at the company's branch in Paris, France, succeeding Albert Kessler.
—The deposits of the Lincoln Trust Co., 208 Fifth Ave.,
this city, at the close of the semi-annual period June 29 last,
were $13,575,466, or nearly double what they were when the
present management took hold. The company's capital,
surplus and undivided profits on the same date were
$1,557,133; cash in vault and banks, $3,305,170, and aggregate resources $15,163,857. The executive staff includes:
Alexander Webb, President; Abram M. Hyatt and Owen
Ward, Vice-Presidents; Horace F. Poor,..Treasurer, and
Breckenridge Carroll, Assistant Treasurer.
—The Hamilton Trust Co. of Brooklyn (Borough) has
elected Frederick H. Webster to its board of directors, to
succeed the late Millard F. Smith.
—One of the show places in the city's industrial life is the
new factory erected by the American Bank Note Company
at Hunt's Point, the Bronx, New York City. In this factory,
the largest and most complete of its kind in the world, are
being printed securities for almost every civilized country on
the globe. The workers in it equal the population of a goodsized city. The main press room alone contains 80,000
square feet of space, and has a battery of 179 presses. The
composing rooms, press room, map-engraving and bindery
departments, each one a vast establishment, are models in
their own particular and individual lines. All these facilities are planned for prompt deliveries and rapid service.
The plate vaults of the company contain 130,000 engravings, some held for more than a century, ready to be put to
press at a moment's notice, subject to printing orders from
the proper authorities: The new plant is also equipped
throughout with specially designed steel cages, in which the
work in progress is locked each night to insure accuracy of
count and security. All the buildings are fire-proof and frequent fire drills are held by employees. The importance of
the permanency and integrity of the institution that guards
the plates and dies from which securities are printed cannot
be overestimated. This new factory contains the systematized results of a hundred years spent in endeavoring to excel in security. The company will be glad to acquaint the
visitor to the new factory with the operation and products
of this modern plant. The sales and administration building is located at Broad and Beaver streets, New York, where
arrangements for the personal inspection of the factory can
be made.
—A hearing in bankruptcy proceedings against the George
W. Hallock Bank of Bath, N. Y. (a private institution),
was held on the 19th inst. before the referee, Hon. Delmar
M. Darrin. The appraiser, it is stated, reported gilt-edged
assets of about $290,000, with a doubtful total of $40,000,
to meet liabilities of $700,000 There will be another hearing on Aug. 3. The bank closed its doors on May 31 last.
—We are in receipt of a handsome monograph on "Devon
shire Street, 1630-1912," one of Boston's historic thoroughfares, which, together with State, Congress and Milk streets,
now makes up the heart of the financial centre of New England. This monograph is a brief story of Devonshire Street
and the interesting part that street has played in the development of Boston. Within its few pages are gathered the facts
and romances of this old street which figured in early American history—some of the material having been gleaned from
old journals, deeds and other authentic sources. The painblot is illustrated and in such form that it may be readily
n 1 for preservation in the library. The brochure is issued
with tt:e compliments of the Second National Bank of
Boston, Thomas I'. Beal, President, and is of interest alike
toIthe:business man, banker and student of history.
—The:tendency to consolidate banking institutions in this
country..seems to have gathered renewed force within the
past month. Following close after the Irving National Bank's
union with the Mercantile National Bank of this city,in quick
succession_theconsolidations of the First National with the
211
—An attractive booklet commemorative of the completion
of ten years of business has been sent to us by the Plainfield Trust Co. of Plainfield, N. J. The booklet., as printed
by Theodore B. Starr, Inc., of New York, is descriptive of
the company's growth and development, and within its
pages appear several photogravures of the company's classic
bank building and interior appointments. On June 4 1902
the Plainfield Trust Co. began business. To-day it reports
assets of about $4,500,000 and is the largest institution in
Plainfield. No more concise history of its progress during
this period could be given than the following comparative
figures, taken from its statement on alternate anniversaries:
June
June
June
June
June
June
4
4
4
4
4
4
1902
1004
1906
1908
1910
1912
Capital. Surplus & Prof. Deposits.
$124,636
$10,000
$100,000
1,033,175
113.530
100.000
1,880,616
147,509
100,000
165,484
1,991,719
100,000
2,854,652
223.881
100.000
269,838
100,000
4,021,865
The trust department of the company holds over $1,500,000 of trust funds, which are kept separate and distinct from
its other assets. The banking department pays 3% interest
on deposit accounts when balances of $500 or 1110W are maintained. No exchange is charged on items deposited, and
on accounts maintaining a substantial balance a New York
checking privilege is granted when desired, whereby customers' checks are payable in New York. In the special department, accounts not subject to check draw interest at
4%. Besides a representative directorate, the official management is as follows: President, Orville T. Waring of the
Standard Oil Co. of New Jersey; Vice-President, Augustus
V. Heely, also Vice-President Farmers' Loan & Trust Co.,
New York; Vice-President, J. Herbert Case, also Vice-President Franklin Trust Co. of Brooklyn; Vice-President, Henry
A. McGee of the Standard Oil Co. of New York; Secretary
212
THE CHRONICLE
and Treasurer, H. H.Pond, who is the acting head; Assistant
Secretary and Treasurer, De Witt Hubbell, and Assistant to
the Treasurer, Adele H. Kirby.
•
—A comparatively new bank, which has increased its
business rapidly by liberal conservatism, is the Commercial
National Bank of Washington, D. C. The institution was
organized Oct. 19 1904 and had built up a deposit business of
$5,423,044 on June 14 1912, the date of the last bank call.
The following comparison of deposits is indicative of its
steady growth:
[VoL. Lxxxxv.
valuable records and cash. A lift connects the safe-deposit
establishment with the working centre of the public banking
departments. The fixtures, cages, &c., of the main banking
room are finished entirely with imported Verdello marble,
the floors are done in Knoxville marble, the screens are in
East India mahogany, and the furniture is made of steel.
Pneumatic mail •service connects the departments on every
floor with all parts of the building. The directors' board
room on the second floor is a beautiful apartment, with walls
of rich English oak and equipped with attractive furniture,
Oct. 19 1904 (opening day
275,934 50 of which the
immense round table for the directors is a
Jan. 1 1905
1.434.41535
Jan. 1 1906
1,753,445 10 novelty. On the game floor are the shower-baths and
Jan. 1 1907
2,441,070 46 clothes lockers for the employees, and also a retiring room
for
Jan. 1 1908
2,187,090 79 • the officers.
The clerks have their dining-room on the third
Jan. 1 1909
2,709,880 26
Jan. 1 1910
4,183,236 23 floor, where the officers also have their dining-room, with
Jan. 1 1911
3,261,918 11 the kitchen which supplies both. The "transit
department"
Jan. 1 1912
4,759,401 37
for the handling of the bank's out-of-town checks have
June 14 1912
5,423,043 56
The capital stock is $750,000, surplus and profits are extensive accommodations on the fourth floor; here, too, is
$501,381 and aggregate resources $8,049,997. The Com- the refrigerating plant. The top, or fifth, floor is the storage
mercial National Bank is now Washington's second largest room for old records, &c. The capital of the First National is
national bank. The officers are: Ashton G. Clapham, Presi- $1,500,000, surplus and undivided profits $1,643,895 and
dent; Eldridge E. Jordan, N. H. Shea and Tucker K. Sands, aggregate resources $30,820,700. The official staff includes:
Vice-Presidents; John Poole, Cashier, and Herbert V. Hunt, J. Tatnall Lea, President; William A. Law, the well-known
Assistant Cashier. W. A. H. Church is Chairman of the Philadelphia and New York banker, First Vice-President;
board of directors. Mr. Sands was formerly Vice-President Kenton Warne, Second Vice-President; Thomas W. Andrew,
of the Bank of Richmond, Richmond, Va., and is well and Cashier; and the Assistant Cashiers are: Freas B. Snyder;
favorablY known throughout the South,.a section of the coun- Charles H. James and Harry J. Haas.
try with whose banking methods and requirements he has
—The reorganization of the Second National Bank of Cinhad a life-long experience.
cinnati, which since the middle of April has been under the
--T-The Lehigh Valley Trust & Safe Deposit Co. of Allen- supervision of the Cincinnati Clearing-House Association,
town, Pa., changed its name oil the 15th inst. to the Lehigh has been completed and the bank was turned over to the
Valley Trust Co. The institution has a paid-in capital of new management by the Clearing House on the 19th inst.
$125,000, surplus and profits of nearly $500,000 and de- It is stated that 8,473 shares of the 10,000 have paid the
assessment of 100%. The old officials and directors of the
posits of over $1,500,000.
—Henry G. Brengle, President of the Trust Co. of North bank have retired and the new ones are: C. A.Bosworth,
America of Philadelphia (which is to be absorbed by the President, Frank L. Cook, Vice-President, and Charles W.
Commercial Trust Co. of Philadelphia), was elected Treas- Dupuis, Cashier. John G. Gutting will be Assistant Cashier
urer of the Philadelphia Trust, Safe Deposit & Insurance Co. temporarily. William H. Alms had also been named for
at a meeting of the directors on the 23d inst. to succeed the vice-presidency, but had to decline, owing to ill health.
—The resignation of Charles A. Bosworth as a director
Samuel E. Carter, whose resignation goes into effect on
Aug. 10, as announced in our issue of June 29. Mr. Carter of the Fourth National Bank of Cincinnati was accepted by
resigns to become associated with Roland L. Taylor, who the board on the 23d inst. Mr. Bosworth, as noted above,
was formerly President of the institution and who
intends is now President of the reorganized Second National Bank.
entering the banking and brokerage business shortly.
—The National City Bank of Cleveland, which for sixtyThomas S. Gates has been elected President of the Phila- seven years had its home in the Perry-Payne Building,
delphia Trust, Safe Deposit & Insurance Co., to become moved on the 20th inst. into its new quarters at 706 Superior
Avenue, N. W. The bank was founded in 1845 as the City
effective Oct. 1.
—Charles P. Lineaweaver, Secretary of the Trust Co. of Bank. It joined the national system in 1865. The instiNorth America of Philadelphia, will become an officer in the tution has a record for strength and conservatism and a
Commercial Trust Co. when those two institutions are more aggressive policy is now to be pursued. The bank has
merged on Aug. 1. The plan of merger was referred to by a capital of $250,000, surplus and profits of $353,446 and
us'July 6 and July 13. Four directors of the Trust Co. of deposits of about 1% million dollars. T. W. Burnham,
North America will also become directors in the Commer- Vice-President of the institution, is now acting President,
owing to the recent death of John F. Whitelaw, which was
cial Trust.
—The First National Bank of Philadelphia, the first bank announced in our issue of June 29.
—The United Banking & Savings Co. of Cleveland has
chartered under the National Bank Act, is now permanently
settled in its new home at 315 Chestnut Street. When the increased its dividend rate from 9 to 12%. The first payMerchants' National Bank interests consolidated with the ment at the new rate was made on July 15, and will be paid
First National Bank,over a year ago, it was decided to con- monthly as heretofore.
—T. T. Robinson, a director of the Elyria Savings &
struct a new building on the old site of the latter which
would accommodate the combined and growing business of Banking Co. of Elyria, Ohio, was chosen President of the
both institutions. Most of the First National Bank's old institution on the 16th inst. to succeed the late William
building was cleared away with the exception of the bold Heldmyer.
white-stone facade on Chestnut Street, which has been
—The Ravenswood National Bank of Chicago, to which
utilized for the new home. The First National, with reference was made in our issue of April 13 last, has formally
$27,000,000 deposits, is now one of the largest institutions in opened for business with a capital of $50,000 and surplus
Philadelphia, and the architects were given unlimited per- of $10,000. Walter D. Ratje is President and George C.
mission to construct a plant which would embody every Keeler is Cashier.
modern banking facility and appointment. The result is a
—The "National Debts of the World" for the year 1912
bank building of five stories with a floor space of over 30,000 are shown in a folder issued by Wollenberger & Co. of Chisquare feet, so distributed that the entire structure has the cago, bankers and specialists in foreign securities. The
benefit of daylight and does not require artificial lighting. folder furnishes in convenient form statistics for the variThe feature of the bank's new home is its spaciousness and ous countries, the information offered consisting in each
inthe systematic division of its departments on various floors. stance of the debt (in U. S. dollars), the area in square miles,
All the usual public departments are situated in the front the population per square mile, the debt per capita,
the
of the banking room, convenient to the street entrance,and revenue, expenditures, imports and exports for all the counsurrounded on three sides by large foyers. In the rear are tries of the world individually. We believe that copies
of
the officers' reception quarters and connecting are the the circular may be had for the asking.
officers' individual private offices. Further in the rear of
—A step which has been the subject of favorable comment
the public banking-room, separately located, are the stenoin banking circles throughout the country this week is the
graphic and credit departments and the book-keepers. courageou
s action of the directors of the National Bank of
There is a large safe deposit vault in the basement, of the Commerce
at St. Louis in writing off $5,748,729 from the
heaviest and latest pattern, exclusively for the bank's books, surplus and
undivided profit accounts and reducing the same
JULY 27 1912,]
THE CHRONICLE
213
merce. John W. Perry is President. Other particulars
regarding the merger were given in our issue of last Saturday:.
—The capital of the Central National Bank of Richmond,
Va., is to be increased $100,000. The proceeds are to ,be,
used, according to the Richmond "Dispatch," to purchase
the Hofheimer Building at Third and Broad streets. This
building will be the future home of the bank. It is the purl
pose to make improvements in the building, among them
the installation of a new safe deposit vault. The present
capital is $250,000.
—The Hibernia Bank of Savannah(Ga.) has purchased the
old Board of Trade Building at Bay and Drayton streets. The
building, which has a frontage of 120 feet on Bay Streql
will be razed and a new one erected on a part of the site.
The 60 feet on Bay Street not utilized in this way will be
sold on condition that the new Owners agree to erect a
building in keeping, architecturally, with that of the bank. ,
—The Savannah Trust Co. of Savannah has purchased
from the Chatham Artillery the entire block bounded'
The Board of Directors of the. National Bank of Commerce invite the Bull, President, State and Whitaker streets. While no plans
Bent to the
attention of its customers to the following letter, which has been
have been announced by the institution, it is understood
stockholders of the bank..
intended that the building will be replaced by a new one erected on the
is
it
that
understand
public
the
that
board
the
of
It is the desire
possible, in
site. The officers of the company,are: W. W. Mackall,...
that this bank is to be operated along the most conservative lines
order to insure the safety of the institution at all times.
President; W. V. Davis, Vice-President; John H. Calais,
•
1912.
20
July
St. Louis,
Treasurer; H. C. Anderson, Secretary, and V. W. Lebey4
Louis:
St.
in
Commerce
of
Bank
To the shareholders of the National
We inclose you herewith a statement of the condition of the bank at Assistant Cashier. The capital of the institution is $500,0004
the close of business on July 20 1912.
—The Citizens' Trust Co. of Augusta, Ga., was obliged' to
Anterior to the panic of 1907 the bank made two or three large loans to
con- suspend business on the 19th inst. A statement by M. C.
enterprises then prosperous and of splendid promise. Since then, in
sequence of that financial cataclysm and the continued depression following, Dowling, Vice-President of the company, says that the insti-•
these enterprises became embarrassed and the bank was unable to collect
with tution is solvent, but, owing to rumors that have proved
these loans without utterly crushing the borrowers. It has shared
The'
them the hope of complete resuscitation, and still believes, from substantial hurtful to the bank, the directors decided to dissolve.
and
1 last:
Feb.
to
reasons, they may in the not distant future, by reorganization
Previous
$100,000.
is
capital
of
bank
the
be a
rehabilitation, in a very large measure restore what now appears to
the company was known as the Citizens' Bank, but at that:
considerable loss to their respective creditors.
to time it was reorganized as a trust company; it has nem,
sums
largo
these
• It became generally known that the bank had loaned
these enterprises, and its credits with them were imperiled, and this ripened been affiliated with any other banking institution in the city':
into a criticism of the management of the bank. While the officers and
loans, According to Mr. Dowling, the assets are approximately
directors of the bank felt it was facing a heavy loss on account of these
come, $325,000 and the liabilities about $250,000, and the assignee
they were perfectly conscious that if such losses should ultimately
they would in no wise involve or imperil its unquestioned and unquestion- believes that every creditor will ultimately be paid dollar fori
able solvency.
In order that any and every suspicion might be challenged and dissipated, dollar.
the bank invited the most thorough search of its affairs by the Examiner
—The stockholders of the Hillyer Trust Co. of Mishit-al
of the Clearing House, and a special examiner of the Government, and has
of its capital stock from $250,000
determined to charge off its books every loss found to exist and recom- have approved an increase
mended by these examiners, 60 that there could be ho further foundation to $500,000, which will give a capital and surplus of $600,000
for questioning its assets.
for the enlarged institution. It is announced that all of the
As additional testimony to the thorough manner in which the assets of
conservative
a
on
new stock has been subscribed. It is further announced that
placed
institution
the
and
reduced
been
have
bank
the
basis, there is included in the amount written off the sum of $800,000 from the name of the institution will be changed from Hillyer
the valuation of the banking house, comprising both the Olive Street and Trust Co. to Atlanta Trust Co. The personnel of officers,
Pine Street buildings, and the real estate situated between the two.
officials are: Henry
We have, pursuing this course, charged off from tile surplus and undivided however, will remain the same. The
profits, aggregating $8,080,787, the sum of $5,748,729 35, leaving a capital Hillyer, President; George S. Lowndes, Vice-President;
of $10,000,000 and surplus and profits of $2,332,038 53 undisturbed and William Hurd Hillyer, Vice-President and Treasurer"; J.
unchallenged.
The
The board of the bank estimates some ultimate recovery from the sum Scott Todd Jr., Secretary; T. C. Trippe, Trust Officer.
charged off, so that this is not low. Its recovery, while in no wise affecting trustees are: Dr. F. Phinizy Calhoun, James S. Floyd, R.L.
be
will
persistently
energetically and
the credit or solvency of the bank,
Foreman, John Morris, Jack J. Spalding, Dr. J. S. Todd,
prosecuted.
of
the
shareholder
bank
no
take
may
that
so
Henry Hillyer, Frederick J. Paxon, George S. Lowndes,
made
is
statement
Tills
undue alarm at the apparently very large charge-off and hastily make a William Hurd Hillyer, Herbert L. Wiggs, Samuel N. Evins
are
abundantly
earnings
The
sacrifice by selling his shares in the bank.
and Mitchell C. King. The Hillyer Trust Co. was chartered
able to take care of the dividend, which the directors have thought prudent
the
repair
steadily
to
and
quarterly,
payable
annually,
10%
under the general trust companies Act in 1910 as an enlargeto
to reduce
loss to the surplus and undivided profits. The bank justifiably claims the ment of the Hillyer Investment Co:, municipal bond dealers,
•
confidence and asaurance of its sharehOlders and the public.
which began business in 1906. In its wider sphere of banking
Statement by Examiners.
and trust business,the growth of the company has been rapid,
We fully concur in the expediency in charging off $5,748,729 35 by the
board of directors of the National Bank of Commerce, and consider the the current statement showing resources of $1,000,000. The
conservatism shown in reducing the value of the banking-house by $800,000, bond business is maintained as a department of the present.
which is included In the above mentioned sum of $5,748,729 35, as very
company, and is one understood to be of the largest in tice
commendable.
It is the opinion of the undersigned that the capital of the bank, $10,- South.
000,000, is in no way Impaired.
—The stockholders of the Sixth Ward Bank and thit
(Signed) RICHARD W. GOODHART,
WALTER W. SMITH,
Travelers' Bank & Trust Co., both of Atlanta, Ga., have
National Bank Examiners.
decided to merge the two institutions under the name of the
St. Louis Clearing House Statement.
The capital of the Travelers' is $200,000, and after
latter.
of
Commerce
this
letter
date from the National Bank of
As stated in the
this will be increased to $300,000. The surplus ig
merger
thoroughly
House
the
Clearing
has,
rules,
the
its
to
pursuant
stockholders,
to its
examined the bank by its examiners separately, and also partially in con- $50,000, and this will be increased to $75,000. The Traveljunction with the special examiner of tile Government, and we find, as
ers' has been in operation since Oct. 5 12.11, and is said to
stated by the special examiner for the Government, that the capital of
is
and
it
unimpaired,
is
entirely
solvent.
have steadily increased in business. J. S. Slicer, President
bank
the
$10,000,000 of
(Signed) W. H. LEE,
the Sixth Ward, will resign, and W. S. Lounsbury, Viceof
Vice and Acting President of the St. Louis Clearing House.
of the Travelers', will be President of the new
President
ESTUS J. WADE, Chairman,
N. A. MeMILLAN,
company, which has obtained a long lease on Peachtree and
EDWARDS WHITAKER,
Walton streets, and will soon erect a large office building on
NVALKER HILL,
•
site.
the
Committee of Management.
has been elected Trust Officer of
MacDonald
K.
—John
has
Currency
apgiven formal
—The Comptroller of the
of
Georgia,
Atlanta, to succeed E. R.
Company
Trust
the
proval to the merger of the National Bank of Commerce and
resigned. Mr. MacDonald was a national bank
Rawlings,
of
both
Bank,
and
Kansas
City,
Mo.,
National
the Southwest
for many years and gained wide experience and
the consolidated institution began business on Monday of examiner
while holding that office.
this week (July 22) in the quarters of the old National Bank many friends
National Bank of Atlanta, Ga., on the 22d
Lowry
—The
streets.
Walnut
The
enlarged
and
of Commerce, Tenth
bank takes the title of the Southwest National Bank of Corn- inst. returned to its old quarters, in which extensive altera_
to $2,332,038 53, with the approbation of the National
Banking Department and the St. Louis Clearing House.
The directors of the bank frankly announce in the statement
which we print in full below that much of the sum charged
off is in the shape of two or three loans made to enterprises
nterior to the 1907 panic, and which could not be realized
pon without crushing the borrowers, and rather than force
such conditions, the bank has decided to, reduce the surplus
and wait until its creditors can re-pay their obligations.
Included in the $5,748,729 35 written off is an $800,000
reduction in the valuation of the bank's two buildings. This
latter course is an additional evidence of the directors' conservatism. The capital of the National Bank of Commerce is
$10,000,000 and its surplus and profits before the reduction
were $8,080,767. In order the more speedily to restore the
surplus and profits to the old figure, the directors have
reduced the stockholders' dividends to 10% per annum,
payable quarterly. The following statement, issued.,by the
directors, explains the transaction:
214
[VoL. Lxxxxv.
THE CHRONICLE
tions have been going on for some time, as was announced in
these columns in our issue'of March 30. The rooms have
been renovated and remodeled, and additional space has al§o
been acquired. The accommodations of the bank are now
declared to be unexcelled anywhere in the South for beauty
and convenience. Col. Robert J. Lowry is the head of the
institution.
•
-The Jefferson County Savings Bank of Birmingham,
Ala., has purChased the property at Second Avenue and
Twenty-first Street from the Bragg estate of Montgomery,
and has also purchased an adjoining lot. It is stated that
the present building on the site will be demolished and a new
seventeen-story structure erected. E.F.'Enslen is President
of the bank.
-The Secretary of State has approved the order authorizing an increase in the capital of the Guaranty State Bank
& Trust Co. of Dallas, Tex., from $400,000 to $600,000, as
'announced
issud of June 1 last. The new stock was
sold at 1201.
7-The Ukilon of Lo4don. & Smiths Bank, Ltd., had the
half-yearly!general meeting of its shareholders at the Cannon
SCreet Hotel, in tondob, Eng., on Wednesday, July 24 1912.
The direct4rs reported; that the net profits of the bank for
the past half-year, after payment of all charges and making
full provision for all bad and doubtful debts, amounted to
e255,236 16s. 8d., to .which was added the sum of .e192,152
4$. Od. brought forward, making a total of £447,389 Os. 8d.
Out of this the directors declared a dividend at the rate of
10.% per annum!, and a bgnus of 3s. 1d. per share, being at
the rate of 2%, per annum, together ,18s. 7d. per share,
subject to income tax, making a net payment of 17s. 6d.
per share. After applying £1 100,000 to write down investments to market value or wider, there remained a surplus of
el46715 13s. 2d. to be carried forward. Since the last meeting agencies have been established at 9 Castle 11111, Lincoln;
Barnetby and Immingham Docks, in Liricolnshire; at
Bingham and Radcliffe-on-Trent In Nottinghamshire; at
the Fish Market, Scarborough; and at Sutton Scotney, in
Hampshire. On June 30 1912 the current and deposit accounts aggregated £40,386,244 ($201,931,220) and aggregate assets were £49,308,283 ($246,541,415).
-The Northern Crown Bank (head office Winnipeg) has
increased its paid-in capital from $2,207,500 to $3,000,000.
The new stock will he issued at par.
IMPORTS AND EXPORTS OF GOLD AND SILVER AT
SAN FRANCISCO.
The Collector of Customs at San Francisco has furnished us
this week with the details of the imports and exports of gold
and silver through that port for the month of June, and
we give them below in conjunction with the figures for preceding months, thus completing the results for the fiscal year
1911-12.
IMPORTS OF.GOLD AND SILVER AT SAN FRANCISCO.
Gold.
,Silver.
Months.
Coin.
Total.
Coin.
3
199,001
697,293
917,324
621,102
261,781
122,001
134.949
222,596
213,098
433,453
313,659
399,064
3
63,450
73.730
21,150
121,150
148.358
4,750
10,860
3,200
21
15,472
225,000
$
71,849
17.834
49,798
42,746
69,289
23,512
113,876
57,558
75,350
86,403
124,733
32,392
Total 12 mos. 2,407,282 2,128,039 4,535,321
687,141
765,340 1,452,481
1911-12.
July'
August
September __
October
November _
December __
January
February -___
garch
April
gay
June
3
650,000
747,000
401,350
10,250
11,400
27,948
18,747
290,587
250,000
Bullion.
$
199,001
47.293
170,324
219,752
251,531
110,601
107,001
203,849
213,098
142,866
313,659
149,064
Total.
1 Bullion,
$
135,299
91,564
70,948
163,896
217,647
28,262
124,736
60.758
75,371
101,875
124,733
257,392
552,995 1,026,114 1,579,109
12 mos.'10-11_ 5108,593 2,997,515 8,106,108
EXPORTS OF GOLD AND SILVER FROM SAN FRANCISCO.
Gold.
.
Silver.
Months.
1911-12.
July
August
September
October
November
December
January ___
February
March
April
May
June
Total 12 mos
12 mos.'10-11_
Coin.
Bullion.
Total.
8
3
$
.
Coin.
Bulion.
Total.
a
s
$
755,100
817,400
1,004,372
805,584
180,600
658,200
1,147,400
543,329
1,145.300
814,632
1,371,514
661,663
17,000
200
2,000
200
2,000
1,900,000 1,990,000
707
707
5,130
5,130
945
1,145
945
1,145
3,999.168 3,999,168
6,270 1.019,395 1.025.665
15,690 7,009,270 7.024,960
15,690
673.000
688,690
738,100
817,400
1,004,372
805,584
180,600
658,200
1,147,400
543,329
1,145,300
814,632
1,371.514
661,663
17,000 9,888.094 9,905,094
231.596 8,539,159 8,770,745
DEBT STATEMENT OF JUNE 30 1912.
The following statements of the public debt and Treasury
cash holdings of the United States are made up from official
figures issued June 30 1912. For statement of May 31 1912,
see issue of June 22 1912, page 1671; that of June 30 1911, see
FOREIGN TRADE OF NEW YORK.-MONTHLY issue of July 29 1911, page 265.
STATEMENT.-In addition to the other tables given in
INTEREST-BEARING DEBT JUNE 30 1912
Amount
Amount Outstanding-this department, made up from weekly returns, we give the
Interest
Issued.
Registered. Coupon.
Total.
following figures for the full months, also issued by our New
Payable.
Tide of Loan$
$
$
S
Q.-J. 646,250,150 642,327,050 3,923,100 646,250,150
Consols of 1930
2s,
York Custom House.
Q.-F. 198.792,660 44,049,120 19,896,340 63,945,460
3s, Loan of 1908-18
Merchandise Afoventent to New York.
Month.
$
69,247,13
July
August
74,673,58
Septembe 73,313,594
OCtiiber
77,195,84
November 76,462,09
December 81,713,42
January_ . 87,174,822
February.
March__ 80,428,11'94,289,81
95,298,03
Atirll
88;860,861
MaY
74,937,441
June Total
Exports.
Imports.
1911-12.
Customs Receipts.
at New York.
1910-11.
1911-12.
1910-11.
1911-12. I 1910-11.
$
69,960,8
81,340,43
68,590,61
70,317,97
75,083,744
76,681,91
74,513,31
60,677,91.
84,752,8 I
71,063,44
73,970,513
69,527,171
$
58,702,124
62,055,95
70,132,54
65,514,26
67,843,51
77,965,83
66,475,20
69,345,534
72,192,95
70,515,68
77,217,457
61,039,541
56,019,56
05,279,11
66,183,111
61,160,95
60,821,02
63,598,53
61,305,70
61,749,88
71,039,361
73,279.67
66,054,021
05,127,72/
16,481,668 16,911,067
18,023,013'20,276,113
15,834,097 17,699,966
10,968,775 16,381.807
15,870,054 18,533,078
15,249,906 16,487,755
17,425,585 16,808,957
17,291,791 16,334,953
18.961,616 19.487,785
16,539,318 14,903.015
16,332,160 16,013,192
15,257,299 14,917,580
)73,692,83. 832.578,811 418,000,614 771,084,69 200,235,282204,845,202
The imports and exports of gold and silverfor the twelve
months have been as follows:
Gold Movement at New York.
.Afonth.
Imports.
1911-12.
1910-11.
Exports1911-12.
3
July
519,068 4,900,446
269,508
August ___
1,873,040 9,335,380
84,400
tiektember
1,661,591
431,581
179,027
October
2,045,191
698,290 2,816,299
November _
1,347,824
746,321 2,305,278
December
1,764,901 1,881,121
678,172
•January
1,894,791 1,325,148 1,751,573
February ____ 1,441,108.
632.423 10,607,393
March
2,464,940 1,158,721 7,332.800
AprIl
1,665,013
470,074 1,616.931
376,740
1,101,253 2,850.931
May
3,024,221 2,319,280 6,025,618
Jane
'luta
1910-11.
177,490
276,000
134,500
132,185
256,900
387,610
871,445
351,125
436,292
591.794
395,600
49,777
Silver-New York.
Imports.
Expons,
1911-12.
1911-12,
3
556,492
644,005
532,385
855,434
760,569
670,821
1,458,551
1,232,507
678,155
1,577,763
1,110,472
799,683
4,449,553
3,920,270
3,774,911
4,182,162
4.805,863
5,282,376
4,817,026
4.513,845
4,583,186
4.053,408
5,291,820
4,320,367
21,504,830 ,6,746,728 13.943,437 4.060.718 10.991,837 53,994,707
Q.-F. 162,315,400 100,162,000 18,327,900
4s. Loan of 1925
24,740
2s, Pan. Canal Loan 1906_Q.-F. 54,631,980 54,607,240
341.080
2s, Pan. Canal Loan 1908.Q.-F. 30,000,000 29,658,920
3s, Pan. Canal Loan 1911...Q.-S. 50,000,000 33,043,100 10,956,900
41,900
37,040
4,860
214s, Post.Sav.bonds 1911.J.-J.
417,380
316,440
100,940
23.s, Post.Sav.bonds 1912_J.-J.
118,489,900
54,631,980
30.000,000
50,000,000
41,900
417,380
Aggregate int.-bearing debt__1,142,449,470 904,200,910 59,575,800 963,776,770
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
May 31.
June 30.
Funded loan of 1891, continued at 2%. called
May 18 1900, interest ceased Aug. 18 1900._ __
Funded loan of 1891, matured Sent. 2 1891
Loan of 1994, matured Feb. 2 1904
Funded loan 01 1907, matured July 2 1907
Refunding certificates, matured July 1 1907_ _ _ _
Old debt matured at various dates prior to Jan. 1
1861 ano other items of debt matured at various
dates subsequent to Jan. 1 1861
35,000 00
23,650 00
13.350 00
804,900 00
14,050 00
$5,000 00
23.650 00
13,250 00
800,350 00
14,050 00
004,260 26
904,150 26
Aggregate debt on which Interest has ceased
since maturity
$1,765,210 26
$1,760,450 26
DEBT BEARING NO INTEREST.
June 30.
Mau 31.
notes
3346,681,016 00 3346,681,016 00
United States
53,282 50
53,282 50
Old demand notes
25,622,399 50 24,710,831 50
National bank notes-Redemption account
Fractional currency, less $8,375,934 estimated as
6,856,154 90
lost or destroyed
6,856,15490
$379,212,852 90 $378,301,284 90
Aggregate debt bearing no interest
RECAPITULATION.
Increa.se(+)or
May 311912.
ClassificationDecrease (-).
June 30 1912.
Interest-bearing debt
3963,776.770 00 $963,776,770 00
1,765,210
26
1,760,450 26
Debt interest ceased
-$4,760 00
379,212,852 90
Debt bearing no Interest_
378,301,284 90
-911,568 00
Total gross debt
$1,343,838,505 16 31,344,754,833 16
276,997,557 98
Cash balance in Treasury *. 316,263,807 88
Total net debt
-3916,328 00
+39,266,24990
$1,027,574,697 28 31,067,757,275 18 -$40,182,577 90
* Includes $150,000,000 reserve fund.
The foregoing figures show a gross debt on June 30 of
$1,343,838,505 16 and a net debt (gross debt less net cash
in the Treasury) of $1,027,574,697 28. ,
TREASURY CASH AND DEMAND LIABILITIES.
the items stood
The cash holdings of the Government as
June 30 are set out in the following:
LIABILITIES.
ASSETS.
$
Trust Fund
$
Trust Fund Holdings1,040,057,369 00
certificates
Gold
O
0
1,040,057,369
Gold coin
481,519,000 00
481,549,000 0O Silver certificates
Silver dollars
2,929,000 00
2,929,000 0O freasury notes of 1890..
Silver dollars of 1890._
1,524,535,369 00
Total trust fund
General Fund Holdings727,998 19
Certified checks
Gold coin and bullion.- 15,990,877 90
00
97,305,185
certificates
Gold
12,499,770 00
Silver certificates
13,470,641 00
Silver dollars
2,067,10d 04
Silver bullion
8,758,893 00
United States notes_ ___
0,90500
Treasury notes of 1890.National bank notes__ _ 39,938,687 70
Fractional silver coin.. _ 25,581,047 88
297 43
Fractional currency_ _ _ _
2,385,756 18
Minor coin
34,178 40
Bonds and interest paid_
January _
February ._
March _...
April .....
May
June
July
August
September.
October
November
December_
Total trust liabilities.1,524,535,309 00
Gen. Fund LiabilitiesNational bank 5% fund 24,349,431 03
Outstanding checks and
0,775,948 50
drafts
Disbursing officers' bal66,400,513 88
ances
Post Office Department
4,192,381 31
account
3,770,208 10
Miscellaneous items....
Total gen.liabilities_
-20.262
+21,948
+559.459 +303,354
1 for six
Merchandise.
Twelve
Months
(000
omitted)
-14.1m
Exports.
' Excess
Ex-.
of
Imports. Exports ports.
years:
Ckqa.,
Silver.
Excess
ErInc. I 0
ports. xports ports.
Inc.
ports.
Ercosj
of q
la
$
47,050
45,937
45,217
43,955
44,658
42,947
-$
17,840
18;813
10,670
11,728
13,463
1.3,79*2
;
3
3
$
$
s
s ,
1911-12 2,204,222 1.653,426 750,796 57,306 49,9361 8,370
1910-11 2,049,320 1,527,226 122,094 22,51C 73,601a.9'
1909-101,744,985 1,556,947 188,037118,563 43,310175,223
1908-09 1,663,011 „920 151,091 01,532 -44,004147,528
1907-08 1,860,773 1,194,342 366.431 72,433 l48,3371ms75,904
1906-07 1,880,851 1,434,421 146,430 51,399 114,510 03,111
•
1,127,393 75
Grand total
+zn
We subjoin the totals for merchandise, gold and silver for
twelve months since July
48,156,977 30
1,946,293,662 72
Sliver •-.-1-7....
1912. 1....19,11.
p ,4 IP
$
+1,670 7.+Wt00
+1,341 ,1+555
+70O
+2,094'
+752 • +38
+2,381 1-___.148
1-2,1 2
1
--------- +1.354
• +1.217
1
+Law
+1,773
+ Exports. -Imports.
105,494,485 84
Cash Balance & Reserve3,037.575 95 Total cash and reserve__ 316,263,807 88
Made up of4,704,969 70 Available _ _$166,263,807 86
Total In Philippines_ _
ana
Reserve FundReserve Fund HoldingsGold coin and bullion__ 160,000,000 00 (iold&bull. 150,000,000 00
Grand total
EXCESS OF EXPORTS 011 IMPORTS.
----Gold
Merchandise---1911.
1912.
1910.
1911.
1912.
3
• •$
6
$
$
+58.800 +66,522 +10,790 -3,226 -8,617
+64,656 +54,262 --5,560 +7,6,52 -5,381
+47,834 +22,891 -19,341 +3,118 -3,614
-812'-2,076 -3,019
+16,729 +38,161
+19,682 +23,338 +12,246 +1,105 +1,802
+8,012 +1,538 -1,693
+6,941 +18,900
-417
+9,643 -2,688
-3.624
+18,240 -3.692
-2,351
+70.627 +51,609
-118
+77.160 +83.663
+10,483
+75,591 +76,834
-3,713
. +84,125 +92,293
Total
Tot. In Sub-Treas'ies. 218,836,346 72
In National Bank DepositariesCredit Treas. of U.S. 37,574,507 28
Credit U. S disburs10,582,470 02
ing officers
Total in banks
In Treasury of Philippine IslandsCredit Treas. of U. S.
Credit U. S. disbursing officers
215
THE CHRONICLE
JULY 27 1912.]
4 Excess
of
imports.
Similar totals for
make the following
1,946,293.662 72
-The following
TREASURY CURRENCY HOLDINGS.
compilation, based on official Government statements, shows
the currency holdings of the Treasury at the beginning of
business on the first of April, May, June and July 1912.
$
64,890
61,751
55,287
65,683
57,921
56,739
six
months Since January 1 for six years
exhibit:
Gold.
-Sir
Excels
Excess
Excess
Months.
Imports Of.
of
Exports
mports
Exports
of
(000 Exports. Imports.
,0'
Exp97
XPOTIS
Exports
omitted)
Merchandise.
TREASURY NET HOLDINGS.
Apr 11912. May 11912. J'ne 11912. July 11912.
$
$
$
$
Holdings in Sub-Treasuriles254,130,930 253,187,522 244,189,050 203,362,063
Net gold coin and bullion
21,589,405 21,421,740 24,911,092 28,037,520
Net silver coin and bullion
9,905
'14,110
8,183
11,001
Net United States Treasury notes
8,880,271 9,625,444 8,657,71)8 8,758,893
Net legal-tender notes
34,887,270 33,623,681 35,937,196 39,938,688
Net national bank notes
24.300,074 24,738,979 25,584,333 25,581,048
Net fractional silver
3,373,420 3,234,028 3,440,715 3,148,230
_
Minor coin, &c
$
1912... 1,099,516 884,813 114,703
1011___ 987,821 • 763,74( 324,07
1910_ 804,759 799,429 5.335
1909... 787,973 717,997 69,976
1908.. 877,797 522,451 '55.346
940,450 751,271 189,171
1900_ _ _ 857,842 637,351 220,483
imports..
a Excess
$
33,375
13.252
49,516
63,834
53,519
36,300
31,611
8-
25,264
33,773
19,388
20,136
26,368
- 3
8,111
20,521
30,128
43,698
27.151
33,669
34,443
27,054
29,360
25,514
29,210
62,538 a30.927 33,437
S.
25,204 • • 8.405
21,962
21,901
22,872
21,054
22,396 - 6,823
23,677 9.700
5.11
• 4,480
.„
Total cash in Sub-Treasuries_ _347,184,380 345,839,577 342,734,894 368,836,347
150,000,000 150,000,000 150,000,000 150,000,000
Less gold reserve fund
•,
Cash balance in Sub-Treasuries_ _197,184,380 195,839,577 192,734,894 218,836,347
44,961,011 44,839,127 47.525,400 48,150,977
Cash in national banks
4,923,814 0,047,207 5,059,000 4,764,970
Cash in Philippine Islands
271,758,294
Net Cash in banks, Sub-Treas_247,0139,205 240,726,271 245,919,300
115,535,109 121,112,323 118,921.742 105,494,486
Deduct current liabfiities_a
131,534,096 125,613,948 120,997,558 100,263.802
Available cash balance
a Chiefly "disbursing officers' balances." f Includes $2,067,109 04 silver bullion
and $3,148,230 20 minor coin,&e., not included In statement "Stock of money."
BibMetatti:COMIltekgialiglIgiat 'MS
English Financial Markets--Per Cable.
The daily closing quotations NI.see-I:tribes, Ste., at London,
as reported by cable, have been as follows the past week:
IMPORTS AND EXPORTS FOR JUNE.
The Bureau of Statistics at Washington has issued the
statement of the country's foreign trade for June, and
ifrom it and previous statements we have prepared the folowing interesting summaries:
FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
(In the following tables three ciphers (000) are in all cases omitted.)
MERCHANDISE.
Imports
Exports
1911.
1912.
1910.
1910.
1911
1912
January ..... $202,446 $197,083 $144,461 $143,586 $130,561 $133,671
121,695
134,183
130,118
124,558
173,957
February ... 198,844
162,999
139,042
157,577
143,658
205,411
161,933
March
133,922
119,827
162,571
179,301)
133,110
167,988
April
118,838
129,814
155,098
131,084
175,30
153,152
May
122,807
119,876
131,190
141,707
127,888
138,133
June
117,316
118,054
127,697
114,628
July
138,358
125,945
--......144,185
134,666
August
117,265
125,172
195,799
168%674
September.
124,046
133,206
210,366
207,709
October
129,786
126,162
201,753
206,620
November
136,709
140,782
224,907
229,003
December
$1,533,067 81,562,904
$2,092,527 $1,866,259
Total
GOLD.
January ____
February
March
April
May
June
July
August
September.
October _
November
December
1912.
$1,915
10,589
7,454
1,817
4,451
7,149
Total
January _
February
March
_
April
May
June ...
July
August
September
October
November
December
1912.
$6,028
5,122
5,806
4,941
6,720
5,0113
...
Total
Exports
1911.
S924
425
505
1.506
0,817
3,075
2,178
481
2,353
3,984
13,941
994
1910.
$6,163
2,937
1,816
36,284
719
1,598
829
3,150
1,823
750
1,376
1,330
358,775
$37,183
SILVER,
Exports1910.
1911.
$4,498
$5,651
4,589
4,453
4,553
5,897
4,697
7,610
4,131
5,054
4,587
5,778
5,124
5,275
4,756
4,870
4,830
4,941
4,270
5,087
5,265
5,052
6,061
5.997
$65,665
$57,361
•
1912.
$5,141
2,937
4,336
3,893
3,346
5,011
1912.
$4,358
3,781
3,712
4,189
4,345
4,880
•.
Imports1911.
$9,541
5,806
4,119
4,525
5,015
4,768
2,595
4,105
4,704
4,102
3,458
4,707
1910. '
$2,131:
3,003
4,374'
2,101
3,143
4,576
10,283
12,819
3,192
4,250
4,313
4,977
$57,445
$59,222
Imports1911.
$3,551
3,898
3,197
4,252
3,556
3,506
3,921
3,653
4,163
3,404
3,339
3,307
1910.
$4,248
3,155
3,995
3,841
3,355
3,308
3,795
4,119
3,442
3,395
4,827
4,398
$43,747
$45,878
•
London,
Tues. , Wed.
Man.
Sat.
Week ending July 28.
27 15-10 27'15-16 2754
'd; 2734
Silver, per ex
743-16 -743-16-. 73 13-16 r354
Consols, 234 per ets
7334
73%.
74g
For account .7431
92.1734'd2.20 '92.10
French rentes (in Paris)_ _fr. 92.20
8534
8531
8631
Amalgamated Copper
85
85',(
86
86
American smelt. & Refg
834
834
834
854
b Anaconda Mining Co
110g
111
1113.4
Atch. Topeka & Santa Fe.,..11154
10534 -105K . 10534
10534
Preferred
11234
11234
11234
_11234
Baltimore & Ohio
-20
;00
90
90
Preferred
270;34
p723-4
2723
_2725-(
Canadian Pachle
8Z
*8234
83
Chesapeake & Ohio'
17.
1734
1734
Chicago Great Western
1734
10534
1063f .10534
Chicago Milw. & St. Paul _1,06
1951, 4054
1954
1934
Denver & Rio Grande
36
3634 • 36% - :3634
•
Preferred
3634
30%
3731 ;
Erie
3634
5531
First preferred
5434 •
.
5554 * :5534
44
Second preferred
9
1531
. - 14
1%
43
4131 • k4
144
14134
Great Northern, pref
13334 13334' 134
13354
Illinois Central
16.5
.165.
165
Louisville & Nashville •
16534
2834
2854
28 ' 2831
Missouri ICansas & TeXas
6134
0134 : 61%
61
Preferred •
1
3734
34
'
Missouri Pacific
69
,69
69
Nat. RR.of Mex., 1st pref._ 69
3134•
31% • 313• • 3231
Second preferred
118%
118% . , 11834
N. Y. Cent. & Hud. River_ _ 11854
3334
3354
33%
N. Y.Ont. & Western
333.4
7%
19
13
7%
19
9: .13
17
13
120
Norfolk & Westerns..
;
_ _ '• 91 91
Preferred
124
125
125
Northern,Pacific_ :
P15
63g
633
6354
03%
a Pennsylvania
8434
'843485
04g
ConipanIt
a Reading
40
46
46
46
a First preferred
49
.
-- 49
a Second preferred,.
2534 ; 2534
25%
•
"
Rock Island
112%
• 112%
113g
113%
Pacific_
Southern
2934
2931
93,4 • 29%
Southern Railway
79%
Preferred
2%
0
7
17
;
2
934,
7
17
4
3
9
7
17
17334
Union Pacific
9234
' 93
9234
93
Preferred
7134 : 7131
72%
U. S. Steel Corporation_ _ _ 7234
114%
• 115
11.4% 114%
Preferred
'J
.4%
4%
4M'
454
Wabash
1334 I 1331
14
13%
Preferred
70
70
71
70}
Extended 4s
a Price per share
b
sterling. c Ex-dividend.
Frt.
Thurs.
2754
i7';‘
74
743‘,. 3 7414
74
91.95 92.1234
84% . e.S•5351,.
854•-•
3-4 U' • 8%
8g4
111
c10934
105%
105%
c10934
112
90 ,
90
271W 272%
83
8234
17
175410654...,
106
193.4, Jaw.
-MI • :
36 313%
5434, ' 55311'
45 • .45. •
biam
14031
134 ; car!.
161%
16454
2854
2831;
el%
61%,
37
69
69
3134
3134
. 119
118
'33g •
33%
1:
9 4- 11954
16
3
4
126%
63%
'4651
46
84}1
.149
ity%
2434
-112 2914'
3295-4
.
49
j7234
-93, - 92%
713.4
7231
11454'
11454
444,
434
13.34
1334
70
'70
-216
Tomnxerciat and Miscellaneousnew
10,228-The Anaheim National Bank, Anaheim, Cal. Capital, $50,009.
Chas. Eygabroad, Pres.; 17, C. Krause, Cashier,
Breadstuffs Figures brought from page 247.-The statetments ,below are prepared by us from figures collected by
:the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
. since August 1 for each of the last three years has been:
;Rccetpts atChicago _ _ _
Milwaukee__
Duluth
Minneapolis_
Toledo
'
,Detroit
Cleveland _
St. Louis
Peoria
Kansas City.
Flour.
Wheat
Corn.
Rarley.
Oats.
Rye.
bb13.198lbs. bush. 60 lbs. bush 56 lbs. bush. 32 lbs. bush.481bs. bu.56 lbs.
50,720
996,250 1,220,200
40,500
322,300
4,000
88,200
54,000
142,600
70,800
66,300
8,800
13,230
11,690
151,740
3,690
248
125,940
68,280
693,000
32,800
11,800
48,700
24,000
3,000
45,000
5,210
6,000
11,000
9,142
31,140
34,407
890
778
262,180
515,423
95,300
43,030
2,1%
24,000
162,904
86,000
34,400
9,800
2,122,400
309,600
76,500
3,989,605
9,894,374
4,654,299
Total wk.'12
199,940
Same wk '11 • 310,797
Same wk.'10
271,973
Since Aug. 1
1911-12_
191041...._
- 1909.10._ _
1,960,854
1,755,095
2,765,336
1,808,777
3,408,566
2,936,233
162,066
170,600
826,266
24,848
33,570
29,662
=12,394,875 140,638,522 195,201,563 148,513,404 61,730,165 7,961,168
15.649,339 229,746,766 373,599,066 189,258,955 63,182,581 3,171,256
19,823,593 247,604,378 181,652,805 89,934,360 80,731,793 6,797,168
Total re.ceipts of flour and grain at the seaboard ports for
the week ended July 20 1912 follow:
Receipts atNew York
Boston
• Philadelphia
Baltimore
New Orlehns*
• Galveston
Mobile
Montreal
Flour,
bbls.
140,476
25,585
28,249
12,344
21,242
Wheat,
bush,
399,200
448,575
173,787
249,109
4,000
28,782
706,497
64,000
Total week 1912_ 260,678
SinceJan.1 1912_ 9,289,017
317,511
Week 1911
Since Jan.1 1911_10,091,389
Corn,
bush,
57,925
7,655
18,609
66,832
98,20Q
4,000
5,000
575
Oats,
bush.
345;425
50,291
68,509
85,313
66,900
4,000
70,116
Barley,
bush.
5,100
30
1,000
Rye,
bush.
51,946
2,041,168
258,796
690,554 58,076
1,181
61,274,702 24,874,683 26,254,917 3816,123 287,564
2,620,012* 724,979 1,033,926
3,333
2,437
35,596,461 48,032,935 29,262,430 2624,942 360,013
Corn, Flour,
bush.
bbls.
9,556 48,799
2,262
Oats,
bush.
5,150
19,924
118,084
500
828,000
4,769
3,071
1,833
5,000 4,000
58,000
148,000
17,000
Total week_l__1,634,933
978,425
Week 1011
27,676 122,734
445,512 127,578
291,658
316,850
72,774
Wheat,
bush.
145,808
343,727
121,000
166,398
30,000
3,120
10,000
Rye, Barley,
bush,
bush.
55,774
Peas,
bush.
Week ending July 20.
Clearings at- .
3,251
Wheat
------Corn
Since
Since
Since
Week
Week July1
July 1
Week
July 1
1912. July 20.
July 20. 1912. July 20.
Exportsfor week and
1912.
bbls.
bush.
bbls.
bush.
bush.
since July 1 tobush.
85,125 233,972 1,111,682 3,113,854
United Kingdom
5,461 50,613 482,226 1,905,843
Continent
10,000
41,025
79,150 8,600
South dc Central America_ 36,959 66,542
61,838
15,114 65,701
West Indies
17,790
89,075
290
British North Amer. Cols_
75 1,384
Other Countries
1,286
2,212
122,734 418,502 1,634,933 5,098,838 27,676 163,105
127,578 405,790 978,425 2,747,788 445,512 1,838,864
The world's shipments of wheat and corn for the week
ending July 20 1912 and since July 1 1912 and 1911 are shown
in the following:
1912.
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Calgary
Hamilton
St. John
Victoria
London
Edmonton
Regina
Brandon
Saskatoon
Moose Jaw
Lethridge
Brantford
Fort William
Corn.
National Banks.-The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
GHARTERS ISSUED TO NATIONAL BANKS JULY 11 TO JULY 17.
10,227-The Waukomls National Bank, Waukomls, Okla. Capital,
$30,000. Chas. M. Johnston, Pres.; M. 0. Garrett, Cashier.
(Conversion of The First State Bank of Waukomls.)
1911.
Inc. or
Dec.
1910.
1909.
$
$
$
%
$
59,957,489 48,900,475 +22.1 45,559,649 41,493,784
49,115.982 35,694.373 +37.1 30.276,907 26,857,221
26,256,059 21,061,974 +24.7 18,783,040 11,760,272
11,301.549 10,211,675 +10.
9,094,975 5,222,286
5.772,348 5,358,242 +7.7 4,134,584 3,669,010
3,132,723 2,829,729 +10.
2,509,230 2,774,187
1,858,239 1,782,073 +4.3 1,928,227 1,935,664
5.155,547 4,204,665 +22.
2,869,827 2,011,577
3,260.545 2.478,986 +31.
1,879,661 1,084,813
1,672,875 1,722,020 -2., 1,560,918 1,443,271
4,161,757 2,827,068 +47.2 2,222,896 1,524,598
1,520,498 1,402,501 +8.
1.305,751 1,159,100
4,585,758 2,110,769 +117.
1,384,185 1,087,840
1,951,194 1,225,684 +59.•
962,760
514,368
576,845 -10.:
459,027
2,031,536 1,064,498 +90.
1,158,505
755,546 +53..
640,121 +1.
646,699
588,320
537,225 +9.
721,002 Not include d In tot al
184,641,991 145,384,469 +27.1 124,931,637 102,623,623
STOCK OF MONEY IN THE COUNTRY.-The following
table shows the general stock of money in the country as well
as the holdings by the Treasury, and the amount in circulation, on the dates given. The statement for July 1 1911 will
be found in our issue of July 29 1911, page 266.
-Stock of Money July 1'12- -Money in CirculationIn United
Held in
July 1
July 1
States.
2'reasury.c
1912,
1911.
$
$
Gold coin and bullion_ ___*1,813,499,440 165,996,878 607,445,193 593,997,977
Gold certificates_a
97,365,185 042,692,184 933,800,529
Standard silver dollars_ ___ 565,350,367 13,470,641
70,330,726
72,443,430)
Silver certifIcates_a
12,499,770 409,049,230 455,442,300
Subsidiary silver
b166,812,806 25,581,048 141,231,758 138,310,669
Treasury notes of 1890
2,929,000
9,905
2,919,095
3,236,865
United States notes
346,681,016 8,758,893 337,922,123 340,540,560
National bank notes
745,134,992 39,938,688 705,196,304 690,848,663
•
*A revised estimate by the Director of the Mint of the stock of gold coin was adopted in the statement for Aug. 11907. There was a reduction of $135,000,000
a For redemption of outstanding certificates an exact equivalent in amount of
the appropriate kinds of money is held In the Treasury, and IS not included in the
account of money held as assets of the Government.
b A revised estimate by the Director of the Mint of the stock of subsidiary silver
coin was adopted in the statement of Sept. 1 1910. There Was a reduction of
$9,700,000.
c This statement of money held in the Treasury as assets of the Government does
not include deposits of ptiblic money in national bank dePositartes to the credit of
the Treasurer of the United States, amounting to $37,574,507 28.
GOVERNMENT REVENUE AND EXPENDITURES.Through the courtesy of the Secretary of the Treasury, we
are enabled to place before our readers to-day the details of
Government receipts and disbursements for 1911-12 and
previous fiscal years.
GOVERNMENT RECEIPTS AND DISBURSEMENTS.
Fiscal Years
ending
June 30.
1879
1880
1881
1912.
1911.
Export..
1912.
1911,
1882
1883
Since
Week
Since
We k
Since
Since
1884
July 1.
July 1.
July 20.
uly 20.
July 1.
July 1.
1885
1886
Bushels. Bushels.
Bus s. Bushels. Bushels.
Bushels.
1887
North Amer. 2,560,000 7,872,000 5,856,000
1,626,000
1,464,000 5,535,000 8,872,000 391,000
986,000 5,475,000 1888
Russia
1889
Danube ___ - 360,000 1,992,000 1,608.000 519,000 3,248,000 6,775,000
1890
Argentina
2',944,000 7,630,000 4,344,000 5,873,000 17,511,00
1891
Australia _ 440.000 1,176,000 3,064,000
1892
2,832,000 8,272,000 6,290,000
India
1893
72.000
682,000
0th. countr's
382,000
1804
Total ____ 10672000 33,159,000 30.416,000 6,783.000 21,745,000 13,876.000 1895
1896
1897
The quantitiy of wheat and corn afloat for Europe on dates 1898
1899
mentioned was as follows:
1900
1901
1902
Wheat.
Coin.
1903
1904
United
United
1905
Kingdom. Continent. Total.
Kingdom. Continent. Total.
1906
1907
Bushels. Bushels. Bushels. Bushels. Bushell. Bushels.
July 20 1912__ 23,464,000 17,312,000 40.776,000 9,112,000 22,483,000 31,595,000 1908
July 13 1912_ 24,312,000 18,440,000 12,752,000 8,806,000 22,372,000 11,178,000 1909
July 22 1911.. 22,008,000 14,856,000 36.864,001' 3,485.000 6,605,000 10,090,000 1910
July 23 1910._ '2 320,000 7.520 000 29.840,000 6.800.000 In 010.0111) 16 830,000 1911
1912*
Wheat.
.
3,640,407,621 363,621,008 3,276,786,613 3,228,627,002
Total
Population of Continental United States July 1 1912 estimated at 05,656,000;
circulation per capita, $34 26.
The destination of these exports for the week and since
July 1 1912 is as below:
Total
Total 1911
Canadian Bank Clearings.-The clearings for the week ending July 20 at Canadian cities, in comparison with the same
week of 1911, shows an increase in the aggregate of 27%.
Total Canada
•
The exports from the several seaboard ports for the week
: ending July 20 are shown in the annexed statement:
Exportsfrom- Now York
'Boston
Philadelphia ____
Baltimore
New Orleans
Galveston
Mobile
Montreal
VOLUNTARY LIQUIDATION.
5,659-The First National Bank of Hudson, Iowa, July 1 1912. Consolidated with The Hudson Savings Bank. G. W. Bedford, Hudson. Iowa, liquidating agent.
1,181
* Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.
-
[VOL. Lxx xxv •
THE CHRONICLE
Receipts fromCustoms.
137,250,048
186,522,065
198,159,676
220,410,730
214,706,497
195,067,490
181,471,939
192,905,023
217,286,893
219,091,174
223,832,742
229,668,584
219,522.205
177,452,964
203,355,017
131,818,530
152,158,617
160,021.752
176,554,127
149,575,062
206,128,482
233,164,871
238,585,456
254,444,708
284,479.582
261,274,565
261,798,857
300,251,878
332,233,363
286,113,130
300,711,934
333,683,445
314,497,071
313,982,006
Internal Revenue Miscellaneous
113,561,610
124,009,374
135,264,386
146,497,595
144,720,369
121,586,072
112,498,726
116,805,937
118,823,391
124,296,872
130,881,514
142,606,706
145,686,249
153,971,073
161,027,624
147,111,233
143,421,672
146,762;865
146,688,574
170,900,641
273,437,162
295,327,927
307,180,664
271,880,122
230,810,124
232,904,119
234,095,741
249,150,213
269,666,773
251,711,127
246,212,644
J289,933,519
k322,628,201
1321,536,108
23,015,526
22,995,172
27,358,231
36,616.925
38,860,716
31,866,308
29,720,041
26,728,767
35,292,993
35,878,029
32,335,803
30,805,692
27,403,993
23,513,747
21,430,988
18,792,256
17,809.780
20,191,583
24,479,004
a20,094,408
b24,596,662
d34,588,140
g35,086,18G
30,153,403
45,106,969
45,621,493
48,380,087
95,315,851
61,225,524
63,236,467
56,664.912
51,894,751
61,346,103
58,346,999
Totalat-1
273,827,184
333,526,611
360,782,293
403,525,250
398,287,582
348,519,870
323,690,706
336,439,727
371,403,277
379,266,075
387,050,059
903,080,982
392,612,947
354,937,789
385,819,629
297,722,019
313,390,075
326,976,200
347,721,705
340,570,111
504,162,306
563,080,938
580,852,306
562,478,233
560,396,675
539,800,177
x544,274,685
594,717,942
663,125,660
601,060,724
603.589,490
675,511,715
701,372,375
693,866,013
*Subject to rev Con.
a Does not Include $6,303,000 from sale of Kansas Pacific RR. and $58,948,224
from sale of Union Pacific RR.
b Does not Include $11,798,314 from sale Central Pacific R11.
d Does not Include $821,898 from payment of dividend by receivers of Union
Pacific and $3,338,016 from sale Central Pacific RR.
g Does not Include $2,122,841 received in June 1901 from sale 01 claim against
Sioux City & Pacific, $133,943 from payment of dividend by receivers of Union
Pacific and $4,576,247 received on account of Central Pacific indebtedness.
x Includes re-payment of $5,600,000 loaned to Louisiana Purchase Exposition
the previous fiscal year.
j Includes $20,951,781 received from Corporation Tax.
k Includes $33,516,976 received from Corporation Tax.
I Includes $28.583,104 received from Corporation Tax.
Expenditures.
Fiscal
.
Years Ordinary, Premium
Interest. •
ending ma. War on Bonds Pensions.
June 30 and Navy. Purchased.
Total.
Excess
of
Receipts.
$
3
$
$
$
$
6,879,300
35,121,482 105,327,949 266,947,884
1879_ 126,498,453
65,883,653
1880.., 112,312,889 2,795,321 56,777,174 95,757,575 267,642,958
1881... 127,083,61: 1,061,24' 50,059,280 82,508,741 260,712,888 100,069,405
1882._ 125,559,03,
61,345,194 71,077,207 257.981,440 145.543,810
1883_ 140,235,43'
66,012,574 59,160,131 265,408,138 132,879,444
104,393,626
1884.. 134,118,638
55,429,228 54,578,378 244,126,244
63,463,771
1885- _ 152,738,412
56.102,267 51,386,256 260,226,935
93,956,589
1886._ _ 128,498,12
63,404,864 50,580,146 242,483,138
1887_ 145,161,501
75,029,102 47,741,577 267,932,180 103,471,097
8,270,84 80,288,509 44,715,007 267,924,801 b111,341,274
--- • , ,
-[53,370,352 17,292,363 87,624,779 41,001,484 299,288,978 b87,761,081
1890... 154,700,347 0,304,224 106,936,855 36,099,284 318,040,710 685,040,272
1891._ 193,409,59 10,401,22 124,415,951 37,547,135 365,773,905 625,838,542
9,914,454
134,583,053 23,378,116 345,023,330
1892... 187,062,161
2,341,675
159,357,558 27,264,392 383,477 954
1893.... 196,856,004
141,177,285 27,841,406 367.525,280 df. 69 803,261
1894_ 198,506,58
141,395,299 30,978,030 356,195,298 df. 42,805,232
1895._ 183,822,031
139,434,001 35,385,029 352,179,446 if. 25,203,246
1896.... 177,360,41i141,053,165 37,791,110 365,774,159 if. 18,052,454
1897_ _ _ 186,929,88'
[47,452,369 37,585,056 443,368,583df 102,798,472
1898_ 258,331,15:
139,394,929 39,896,925 605,072,180df.100,909,874
1899_ 425,780,321
75,367,146
140,877,316 40,160,333 487,713,792
1900.- 306,676,143
71,142,734
139,323,622 32,342,979 509,967,353
1001.__ 138,300,75-'
91,287,375
138,488,560 29,108,045 471,190,858
1902... 303,594,25'
54,297,668
138,425,646 28,556,349 506.099.007
1903- 139,117,012
142,559,266 24,646,490a582,402,321 dt a42,602,144
1904...a 115,196,56
141,773,965 24,590,944 567,278,913 dt. 23,004,229
1905._ d 401,014,004
25,933.143
141,034,562 24,308,576 568,784,799
19013...d 103,441,661
84,221,912
139,309,514 24,481,158 578,903,748
1907._ d 115,113,071
[53,892,467 21,426,138 659,196.320 dt. 58,135,596
1908...d 483,877,71
161.710.367 21,803.836 693,743,83t, if. 90,154,396
1909_ d 510,229,68
160,696,415 21.342,979 693,617,064df. 18,105,349
1910._d 511.577,671
10,170.863
1911_.d 511,003,004
157,980,5lt 21,311,334 691,201,512
1,915,045
1912*.... 515,737,91
[53,596,751 22,516,300 691,050,968
* Subject to revision.
a Includes $50,174,485 paid on account of Panama Canal and $5,600,000 loaned
to Louisiana Purchase Exposition Company.
b Allowing for the premiums paid, the actual excess in 1888 is $119,612,116; in
1889, $105,053,444; in 1890, $105,344,496; and in 1891, $37,329,763.
d Includes in each year the disbursements on account of the Panama Canal, which
were in the fiscal Year 1905, 83,918,820; In 1906, V9,379.374; in 1907, $27,198,619:
In 1908, $38,093,929; In 1909, $31,419,442; In 1910, $33,911,673; in 1911, 837,063,515; in loll, 535,327,3/1.
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Railroads (Steam).
Alabama Great Southern, preferred...Atch. Ton. & Santa Fe,com.(qu.)(No.29)
Preferred (No. 28)
Baltimore & Ohio, common
Preferred
Boston & Maine, common (guar.)
Preferred
Canada Southern
Central P.R. of New •Tersey(quar.)
Chic. St. Paul M. & Om., corn. & pref_ _
Cuba Railroad. preferred
Fonda Johnstown & Gloversville, common
Great Northern (qunn)
Illinois Central (No. 115)
International & Great Northern Ry., pref.
Lake Shore & Michigan Southern
Guar. stock (Mich. Sou. Sc Nor. Ind.).
Louisville Sc Nashville
Idaho:ling Coal RR., common
Michigan Central
Nashville Chattanooga Sc St. Louis.
Nat. Rys. of Mexico, 1st pref.(No. 10)N. Y. Chicago & St. Louis, 1st & 2d pref.
N. Y. N II. & Hartford (quar.)
Norfolk & Western, preferred -(quar.)
Norfolk
Western, common (guar.)
Northern Pacific (quar.)
°steep° de Syracuse
Passaic & Delaware
Pittsburgh & Lake Erie
Reading Comnanv, common (guar.)._ _
First preferred (quar)
Rome Watertown & Ogdensb.,guar.(qu.)
St. Louis Ar San Fran., first pref.(qu.)_
Syracuse Binghamton & N. Y.(guar.)._ _
Utica Clinton & Binghamton
Street and Electric Railways.
Bay State Street Ry., first preferred
Binghamton R7
Brockton & Plymouth St. Ru.. prof.(No.7)
Chicago Rys. Participation etfa., Ser. 1_ _
Columbus(0.) Ry., pref.(quar.)(No.51)
Commonwealth Pow.. Ry.& Lt.,pf.(qu.)
Conn. Ry. & Ltg., cone. & prof. (guar.). _
Connecticut Valley St. RV., common
Detroit United By. (guar.)
East St. Louis Sc Sub., pref.(qu.)(No.25)
Grand Rapids Hy., prof.(quar.)(No. 47)
Harrisburg Traction
(No. 6)_
Jacksonville Trac., corn. (qu.).
Preferred- (guar.) (No. 6)
Lewiston Aug. Sc Watery., pf.(qu.)(No.9)
Lincoln Traction, preferred (guar.)
Mexico Tramways(quar.)
Milwaukee El. fly. Sc L., pf.(qu.)(No.51)
Monongahela Valley Traction, preferred_
New Hampshire Elec. Rya., Preferred
Nor. Texas El. Co.,corn.(qu.)(No. 12)_
Preferred (No. 14)
Ohio Traction, preferred (guar.)
Philadelphia Co., corn. (quar.)(No 123)
•
Philadelphia Company, preferred
Public Service Investment, corn.(NO.6).
Preferred(guar.) (No. 131
Railway Sc Light Securities, corn.(No.6)
Preferred (No. 15)
Railways Co. Gegeral (quar.)
Rio de Janeiro Tram., L. Sc P. (qinn)._
Tampa Electric Co. (guar.) (.Vo. 31)
Toledo Bowl.Gr.&Sou.Tract.. pref.(guar.)
Union St. By., New Bedford (guar.)
United Power Sc Transoortation
West Penn Rya., oref.(om.)(No. 27)....
217
THE CHRONICLE
JULY 27 1912]
Per
Cent.
When
Payable.
Books Closed.
Days Inclusive.
Aug.
3
1% Sept.
Aug.
3
Sept.
Sept.
2
Oct.
1
3ept.
3
Aug.
2
Aug.
3% Aug.
3
Aug.
2
Aug,
Aug.
3% Aug.
Aug.
1
July
6
Aug.
33.8 Aug.
Aug.
$5
July
3
3% Aug.
Aug.
2
2% Aug.
Sept.
2
Aug.
Sept.
Aug.
Aug.
Aug.
Aug.
Aug.
iept.
Aug.
tug.
23.4 Aug.
Aug.
28 Holders of rec. July20a
2 Holders of rec. July3la
1 Holders of rec. June28a
3 Holders of roe. Aug. la
3 Holders of rec. Aug. la
1 Holders of rec. Aug.31a
3 Holders of rec. Aug.15a
1 Holders of rec. June28a
1 Holders of rec. Julylea
20 Holders of rec. Aug. 2a
1 Holders of rec. July la
1 Holders of rec. July22a
1 Holders of rec. Julylla
31 Holders of rec. Aug la
1 Holders of rec. Aug. 1
29 Holders of rec. June28a
1 Holders of rec. June28a
10 July 20 to Aug 11
1 Holders of rec. July15a
29 Holders of rec. June28a
1 July 21 to
Aug. I
10 Holders of war. No .10
31 Holders of rec. Aug. la
30 [folders of rec. Sept.90
19 Holders of rec. July3la
19 Holders of rec. Aug.31a
1 Holders of rec. July 9a
20 Holders of rec. Aug.10a
1 Holders of rec. July26a
1 Holders of rec. July22a
8 Holders of rec. July23a
12 Holders of rec. Aug.27a
15 Holders of rec. July3la
1 Holders of rec. July17a
1 [folders of rec. July27a
10 Aug. 1 to Aug. 10
Aug.
Aug.
Sept.
Oct.
Aug
Aug.
Aug.
tug.
iept.
tug.
tug.
tug.
tug.
tug.
tug.
Aug.
tug.
July
Aug.
July
Sept.
Sept.
tug.
Aug.
Sept.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
July
Aug.
1 Holders of rec. July 13
15 Holders of rec. Aug. 1
16 Holders of rec. Aug.30a
1 Holders of rec. Aug. 2
1 Holders of rec. July 15
1 July 20 to Aug. 6
15 Aug. 1 to Aug. 15
1 Holders of rec. July 19a
2 Holders of rec. Aug. 16
1 Holders of rec. July15a
1 Holders of rec. July15a
1 July 1 to July 31
1 Holders of rec. July22a
1 Holders of rec. July22a
1 Holders of rec. July 15
1 July 22 to July 31
1 iuly 14 to July 31
31 Holders of rec. July 20a
Aug. 1
1 luly 26 to
31 fuly. 21 to July 31
3 Holders of rec. Aug.15a
3 Holders of rec. Aug.15a
1 Holders of rec. July26a
1 Holders of rec. July la
2 Holders of rec. Aug. 10
1 Holders of rec. July15a
1 Holders of rec. July15a
1 [folders of rec. July15a
1 Holders of rec. July15a
1 July 21 to July 31
1 Holders of rec. July 10
15 Holders of rec. Aug. la
1 July 21 to July 31
1 Holders of rec. July18a
29 July 20 to July 29
1 July 26 to Aug. 1
3
2
3
1%
1%
1
3.8
14
1%
1%
3
1%
134
1%
1%
1%
2%
2
1%
3
134
2%
2
1%
2
3
1
114
2%
13.4
$1.41
134
.Per
Name of Company.
I Cent.
When
Payable.
Books Closed.
Days Inclusive.
Banks.
July 28 to July 41
Aug.
Bowery (quar.)
3
Aug.
3
July 28 to July 31
Extra
Holders of rec. July3la
Aug.
4
Corn Exchange (guar.)
Aug.
3
German-American
[folders of rec. July 26
Lincoln National (guar.)
2% Aug.
Holders of rec. July25a
Aug.
Pacific (guar.)
2
July 17 to July 31
Aug.
3
Security (No. 46)
Holders of rec. July 27
Aug.
July 26 to July 31
Twenty-third Ward
3
Trust Companies.
Aug.
Astor (guar.)
2
Holders of rec. July 27
July 20 to July 31
1% Aug.
Broadway (guar.)
July 26 to July 31
12% Aug.
Farmers' Loan & Trust (quar.)
3
Aug.
Holders of rec. July25a
Hamilton, Brooklyn (guar.)
Aug.
Kings County, Brooklyn (quar.)
July 26 to July 31
4
Aug.
2
Nassau, Brooklyn (quar.)
July 28 to Aug. 1
Fire Insurance.
Aug.
July 17 to July 31
20
Westchester Fire
Miscellaneous.
Aug. 26 Holders of rec. July27a
1
Amalgamated Copper (quar.)
tug. 15 Aug. 2 to Aug. 15
Amer. Bank Note Corp., corn. (quar.).
Common (extra)
3.4 Aug. 15 Aug 2 to Aug. 15
Amer. Beet Sugar, corn. (quar.)(No. 4). 134 Aug. 15 holders of rec. July 27a
1% Aug. 1 Holders of rec. July15a
AmericanCigar, common (quar.)
July 29 July 20 to July 28
American District Teleg. of N. J.(guar.) 1
American Goa & Flectrie, pref. (quar.).... 1% Aug. 1 July 18 to Aug. 1
Aug. 1 July 19 to Aug. 1
American Glue, preferred
4
Amer. Graphophone. pref. (qu.)(No. 56)
Aug. 15 Holders of roe. Aug. 1
American Light Sc Traction, corn.(guar.) 2% Aug. [July 18 to July 31
I Judy 18 to July 31
Common (payable in common stock)._
234i Aug
Pre erred (quar.)
1% Aug. 1 July 18 to July 31
American Utilities, preferred (quar.)- - - - 1% Aug. 10 Holders of roe. July 31
Bond & Mortgage Guarantee (guar.)
3;4 Aug. 15 Holders of rec.'Aug. 8
Brill (J. G.) Co., pref. (guar.)
1% Aug. 1 July 27 to July 31
Buckeye Pipe Line (guar.)
Sept. 16 Holders of rec. Aug. 22
$5
Butte Elec. & Pow., pref.(quar.)(No.44) 1% Aug. 1 Holders of rec. July20a
134 Aug. 15 Holders of rec. July3la
Cambria Steel (quar.)
Canada Cement, Ltd., pref.(qu.)(No.10) 194 Aug. 16 Aug. 1 to Aug.104
Cities Service, common (monthly)
1-3d Aug. 1 Holders of roe. July 20
Preferred (monthly)
34 Aug. 1 Holders of rec. July 20
Claflin (H. B.), first preferred (quar.)_.._ 1% Aug. 1 Holders of rec. July 24
Second preferred (quar.)
13.4 tug. 1 Holders of rec. July 24
1% Aug. 1 Holders of rec. July156
Commonwealth Edison (guar.)
1% Sept. 16 Holders of rec. Aug. 14
Consolidated Gas (guar.)
Consolidation Coal (guar.)
1% July 31 Holders of rec. Jtily25a
Cuyahoga Telephone, preferred (quar.).- 134 July 31 Holders of rec. July 15
Diamond Match (quar.)
134 3ept. 16 Holders of rec. Aug.31a
July 31 Holders of rec. JulY10a
Distillers Securities Corp.(qu.)(No. 39)Distilling Co. of America, pref. (guar.).- 1
July 30 Holders of rec. JulylOs
Dominion Coal, Ltd., preferred (No. 39).. 3% Aug. 1 Holders of rec. July 18
Aug. 1 Holders of rec. July 15
EdisonElec. Ill. of Boston(qui (No 93).. 3
ElectricalSecurities Corp., pref. (guar.). 13.4 Aug. 1 Holders of rec. July294
Elec. Bond de Share, pref.(qu.)(No.29). 134 Aug. 1 July 20 to July 31
ElectricCompany of America
30 cts. Aug. 1 July 14 to July 31
Aug. 1
Eureka Pipe Line (quar.)
10
1 Holders of rec. July20a
Aug
Fall River Gas Works(quar.)(No.71)..... 3
FederalSugar Refining, common (quar.). 134 July 29 Holders of rec. July26a
1% July 29 Holders of rec. July266
Preferred (guar.)
Ft. Worth Pow.& Lt.. pref.(qu.)(No.4) 1% tug. 1 Holders of rec. July20a
1% Sept. 3 Holders of rec. Aug.23a
General Chemical, corn. (guar.)
Goldfield Consolidated Mines (quar.)..,.__ 30e. July 31 Holdersof rec. June29a
Aug. 15 Holders of rec. Aug. 54
1
Goodrich (B.Ie3 Co., common (No. 1)__ _
Gorham Mfg., common (quar.)
2% Aug. 12 Holders of reo. Aug. 8a
25e, Aug. 31 Holders of rec. Aug.14a
Greene Cananea Copper
Aug. 1
connatuato Pow. Sc El., pf.(qu.)(N0.16) 1% Aug. 1 July 21 to
3
Houston Oil. preferred
$3 Aug. 15 Holders of rec. July 15
Indiana Pipe Line (quar.)
Internat. Harvester, pref. (qu.)(No. 22) 13-4 Sept. 3 Holders of roe. July 316
International Nickel, common (quar.)..- 5;4 Sept. 3 Aug. 14 to Sept. 3
134 Aug. 1 July 14 to Aug. 1
Preferred (quar.)
Internat. Steam Pump,prof.(qu.)(No.53) 134 Aug. I Holders of roe. July 20
134 tug. 1 Holders of rec. July 15a
Kansas City Stock Yards (guar.)
Kayser (Julius) Sc Co., 1st Sc 2d pf. (qu.) 1% Aug. 1 July 23 to July 31
Aug. 31 Holders of rec. July3la
Lehigh Coal Sc Nay.(quar.)(No. 135),.. 2
Loose-Wiles Biscuit, 2d pref.(qu.)(N0.1) 2 1-3 Aug. 1 July 21 to Aug. 1
Aug. 1 Holders of rec. July'206
Lowell Elec. Light Corp.(qu.)(No.65)._ 2
Aug. 1 Holders of rec. July 15
Massachusetts Gas Cos., corn, (guar.).- 1
tug. 26 Holders of rec. July3la
1
Mexican Petroleum, corn. (guar.)
Miami Copper (guar.) (No, 2)
50c Aug. 15 Holders of rec. Aug. la
Montreal Lt.. H. Sc Pow.(qu.)(No.45).- 234 Aug. 15 Holders of rec. July 31
Municipal Gas, Albany, N. Y. (quar.)... 2% tug. 1 July 26 to Aug 1
1% tug. 15 Aug. 6 to Aug. 15
National Carbon, pref. (guar.)
Sept.94
30 Sept. 14 to Sept. 17
National Lead, corn. (guar.)
Preferred (guar.)
1% Sept. 16 Aug. 24 to Aug. 27
Aug. 10 July 28 to Aug. 1
$21
Nevada-California Power
1% Aug. 1 July 20 to Aug. 1
Pacific Coast Co., common (quar.)
lq Aug. 1 July 20 to Aug. 1
First preferred (quar.)
13-4 Aug. 1 uly 20 to Aug. 1
Second preferred (quar.)
1% Aug. 1 uly 21 to July 31
Pacific Power Sc Lt., pf. (qu.) (No.
1% Aug. 21, Holders of rec. Aug. 3a
People's Gas Light Sc Coke (quar.)
Piusb. Term. Wareh. & Transfer (musty.) 18%c. Aug. lb
1;4 July 31 Holders of rec. July25a
Pope Mfg., pref. (quar.)
Portiand(0re.)Gas&Coke,pf.(qu.)(No.10) 1% Aug. 1 July 21 to July 31
Aug. 21 tug. 1 to Aug. 20
1%
Pressed Steel Car, pref.(qu.)(No.54).
Aug. 15 Holders of rec July3la
3
Procter Sc Gamble, common (quar.)
July 31
Aug. 1 July 25 to
Public Service Co. of Nor. Ill., corn.(qu.) 1
Ally 31
1% Aug. 1 July 25 to
Preferred (quar.)
Aug. if Holders of rec. July3la
2
Pullman Company (guar.)(No. 182)
Aug. la
rec.
of
Holders
31
Aug.
Quaker Oats, preferred (quar.)
134
Sears, Roebuck & Co.,common (quar.)., 1% Aug. 15 Holders of rec. July3la
Siegel Stores Corporation, pref. (quar.).- 1% Aug. 1 Holders of rec. July15a
Sierra-Pacific Elec., pref.(quo.)(No. 12)... $1.50 Aug. 1 Holders of rec. July24a
1% Aug. 15 Holders of rec. Aug. 8a
Silversmiths Company (quar.)
1% Aug. 15 Holders of rec. July 31
Sou. Calif. Edison, corn. (qu.) (No. 10).
Aug. 3 July 28 to Aug. 4
2
StandardMilling, common (No. 1)
Aug. 31
3
Standard 011 of Indiana (guar.)
Aug. 10 Holders of rec. July29a
$1
Tennessee Copper
1% Aug. 1 July 25 to July 31
Texas Power & Light, pref.(No. 1)
Aug. 1 July 20 to July 31
4
Torrington Company, common
Aug. 1 Holders of rec. July24a
I
United Cigar Mfrs., common (quar.)
Aug. 1 Holders of rec. July25a
2
United Dry Goods Cos., corn.(quar.)_
1% Aug. 1 July 21 to July 31
__
U.S. Bobbin Sc Shuttle, pref.
1% Aug. 1 Holders of rec. July 20a
U.S. Realty dr Improvement (quar.)
July 31 Holders of roe. July 6a
1
U.S. Rubber, common (guar.)
July 31 Holders of rec. July 6a
2
First preferred (quar.)
1% July 31 Holders of rec. July 6a
Second preferred (guar.)
Aug. 15 Holders of rec. Aug. 1
3
Vacuum 011
1%k Aug. 15 Aug. 4 to Aug. 15
Virginia-Carolina Chemical, common_
114 Atte
Solders of rec. July 20
White (.1.
& Co., Inc., prof. teller.1 _ _
a lrausier ts.sflis out closed for this dlv dend 0 Leas Income tax. d correction.
I Payable In common stock k Declared 3% payable 134% Aug. I5 1912 and 134%
Feb. 16 1913. / Payable In srrIn
-The 'International Cable Register of the World," 1912
Issue, is just reitdy. This is the 15th annual volume, It is
issued in conjunction with the Western Union telegraphic
code system. Listings in the register are printed in English,
German, French and Spanish. The book is very complete,
and, with its various alphabetical indexes, desired information is readily obtainable. Price $8 00. International Cable Directory Co., 59 Pearl St., New York, or Salisbury
House, London Wall, E. C., London.
Auction Sales.-Among other securities, the following, not
usually dealt in at the Stock Exchange, were recently sold at
auction in New York, Boston and Philadelphia:
218
THE CHRONICLE
By Messrs. Adrian H. Muller & Sons, New York:
Sores.
Per cent.
12 131dyn. tin. Elev. RR.Co'.;corn. 903.$
6 Banco de Foment()(Santiago de
Cuba)
$50
76 City of Brussels 2s, July 1912
coup. attached; 100f.each.$1,130
500 Tot. Ann Arbor & No. Mich.i $11
Ry.. Co
) lot
75 Monterey Coal Sr Mining Co J
100 Library Sq. Realty Co. ctfs. of
deposit, $5 each
$2 per share
200 National Nutrient Co
$4 lot
45 42d St. & Grand St. Fy.RR.Co 278
385 U.S. Metal Products Co.,corn. 22
$1,200 Banco de Fornento at Santi
ago de Cuba
$400 lot
DETAILED RETURNS OF TRUST COMPANIES.
Bonds.
Per cent.
$2,000 Binghamton Ry. Co., N. Y.,
1st 5s, 1931, M & N
95%
$1,420 Atlantic Mutual Ins. Co.
scrip of 1912
106%
$300 San Pedro Gold Mining Co.
75, 1916
$81 lot
$100 N.J. Mineral Co. 6s, 1915... _$53
31,500 Tol. & Chic.Interurb.Ry.Co.
lsts, June 1908 attached; dep.
agreement
$110
By Messrs. R. L. Day & Co., Boston:
Shares.
$ per sh.
8 Webster & Atlas Nat. Bank_ __ _180%
3 Neponset Nat. Bank, Canton__ 90
2 Mercantile Nat. Bank, Salem_ -125Yi
5 United States Bank, Hartford_ _486%
1 Chicopee Manufacturing Co_ .. _ _110
5 Maverick Mills, pref
65 vt
Shares.
$ per sit.
4 PacificMills, ex-div.($1,000 ca.)3740
1 Columbian Nat. Life Ins. Co.,
ex dividend
125
10 Tremont & Suffolk Mills
116
Bonds.
Per cent.
$500 Consolidated RR.33--4s, 1930 85
By Messrs. Francis Henshai,v & Co., Boston:
Shares.
$ perch. Shares.
$ per sh.
3 Merrimack Mfg. Co., corn
46
50 West End Land Co
20c.
10 Middlesex Co., corn
67% 1 Aetna Fire Ins. Co., Hartford_
10 Massachusetts Mills in Georgia_ 9934 2 Jackson Co, deposited stock_312
($1,000 each)
890
By Messrs. Barnes & Lofiand, Philadelphia:
Shares.
$ per sh. Shares.
Per cent.
10 United Agencies Co., pf.,par$50 7
2 Fire Assn. of Phila., par $50_ _350%
9 Security Life Ins. Co. of Amer12 People's Nat. Fire Ins. Co.,
Ica, par $10
7
par $25
25
5 Tuckerton (N.J.) Bk.($40 pd.) 1274
3 Phila. & Gray's Fy. Pass RT. 8034
3 Pennsy Co. for Ins., &c
6 Frankf'd & So'wark Pass. Ry_369
65034
21 Mesa Land & Imp. Co. (Col.)..$1 lot
5 John B. Stetson Co
450
12 Truss Rail Joint Co. of Pa.,
10 Standard Cast Iron Pipe&FdY..
Par $10
pref. (5 corn, stock bonus)._ 50
10 Montgomery County Agricul31 Kittanning Coal Co
10%
twat Society, par $5
30 Prudential Loan Soc., par $10_ 1234
2 Germantown Mkt.Co., par$50
Bonds.
Per cent
European
Amer.
Crystal&
3534
$1,000 Slate Belt Elec. Street Ry. $400
lized Egg Co., par $1,000.. $5
Co. 2d 4s, 1938
250 U.`S. Egg Dessicating Co., lot $40 Slate Belt Elec. Co. scrip. _ _.J lot
200 Ohio Cons. Min. Co., par $10_
$3,000 Buff. & Lake Erie Traction
500 Monte Cristo Gold dr Silver
Co. 1st ref. 5s, 1936
68
Mining Co., par $20
$500 New Jersey Gas Co. 1st 5s($75
10 Charter Nat. Bk., Media, Pa.,
N. J. Consol. Gas Co. com, scrip
par $50
50
bonus) 1940
90
3 Fourth St. Nat. Bank
318
$1,000 Snringfleld Water Co.5s,1926 99
2 Nat. State Bank, Camden_._ _200' $1,000 No.Spring. Wat.Co.
55,1928 99
15 Third Nat. Bank
255
$5,000 City of Phila. 45, 1940
10134
20 Manayunk Trust Co., par $25. 6014
By Messrs. Samuel T. Freeman & Co., Philadelphia:
Shares.
•
$ per sit.
2 Penn Nat. Bank, par $50
189
Bolds.
Per cent
$700 City of Phil . 4s, reg., due
July 1 1937-39
101
Bonds.
Percent.
•
3500 City of Phila. 4s. 1940
10134
$6,000 City of Phila.4s,1942 1013440134
$1,000 No. Spring. Wat. 55, 1928_ 993
A1.000 Springfield Wat. 5s, 1926_ 9934
Statement of New York City Clearing-House Banks and
Trust Companies.—The detailed statement below shows the
condition of the New York City Cle ring-House members
for the 0 eek en ing July 20. The figures for the separate
banks a e the a erages of the daily results. In the case of
the totals, actual figures at th end of the week are also given.
For definitions and rules under which the various items are
made up, see "Chronicle," V. 85, p. 836, in the case of the
banks, and V. 92, p. 1607, in the case of the trust companies.
DETAILED RETURNS OF BANKS.
We omig two ciphers (00) in all cases.
Banks.
00s omitted.
Capital. Surplus
19,990,0
44,200,0
21,141,0
57,366,0
25,577,0
185,444,0
26,286,0
7,261,0
2,134,0
9,616,0
43,089,0
123,171,0
4,415,0
18,320,0
2,102,0
80,110,0
22,635,0
12,719,0
9,486,0
12,022,0
58,915,0
24,546.0
89,783,0
1,756,0
33,553,1
13,834,0
108,918,0
40,942,0
3,587,0
8,476,0
4,210,0
100,781,0
15,409,0
3,502,0
6,194,0
18,561,0
9,248,0
3,578,0
11,697,0
4,639,0
29,453,0
24,711,0
11,080,0
21,380,0
14,696,0
6,252,0
9,925,0
6,703,0
25.6
25.3
25.9
25.7
25.4
24.4
26.0
25.3
26.5
25.0
25.8
26.0
24.8
25.4
27.5
26.0
25.6
26.0
27.6
26.6
25.3
25.0
25.0
26.0
26.3
25.3
28.7
25.4
26.2
23.2
27.4
28.2
25.8
25.0
23.6
25.8
26.2
27.6
25.8
24.6
26.9
29.0
26.3
25.6
25.3
25.0
25.2
25.3
Totals, Avge__ 131,650,0 105,518,5 1379,796,0 285,670.0 42,162,0 1413,413,0
26.0
Actual figures July 20_
13'41,357.0 '85.737,0 81,683,0 1414,486.0 25.9
Circulation.—On the basis of averages,circulation of national banks in
House amounted to $45,942,000, and, according to actual figures, were the Clearing
$46,093,000.
Trust Cos.
003 omitted.
On Dep.
Net
Surplus. Loans. Specie. Legal,. withC.H. Deposits. Reserve.
Average. Average. Average. Banks. Average.
$
Brooklyn _
2,432,1
Bankers
15,672,1
U.S. Mtg.&Tr. 4,567,4
Astor
1,279,1
Title Guar.&Tr 12,095,0
Guaranty
2,671,4
Fidelity
1,303,4
LawyersT.L&T 6,273,0
Col.-Knickerb_ 7,079,8
Standard
1,389,6
People's
1,710,0
New York_
11,082,5
Franklin
1,326,3
Lincoln
557,1
Metropolitan_ _ 6,111,5
Broadway
571,0
17,631,0
153,014,0
49,943,0
21,245,0
35,250,0
165,143,0
8,221,0
20,003,0
51,047,0
16,123,0
17,803,0
46,278,0
11,119,0
11,335,0
25,801,0
9,213,0
$
1,745,0
436,0 3,531,0 11,826,0 18.4+22.2
17,118,0
35.0 19,025,0 113,813,0 15.0+14.3
4,687,0
396,0 4,791,0 33,862.0 15.0+12.1
2,506,0
29,0 1,710,0 10,369,0 15.4+ 9.0
1,961,0 1,554,0 2,290,0 23,070,0 15.2+ 9.0
10,815,0 1,279,0 15,235,0 118,782,0 15.2+11.3
744,0
235,0
852,0 6,443,0 15.1+10.6
1,551,0
774,0 1,851,0 15,389,0 15.1+10.7
5,467,0
720,0 4,902,0 41,099,0 15.0+10.6
2,232,0
21,0 1,813,0 14,574,0 15.4+11.0
1,877,0
477,0 1,820,0 15,521,0 15.1+10.2
4,621,0
129,0 3,566,0 31,067,0 15.2+10.3
1,061,0
326,0
8,953,0 15.4+10.0
1,396,0
222,0 1,244,0 10,736,0 15.0+10.3
2,694,0
9,0 2.660,0 18,069,0 15.0+12.8
1,015,0
360.0 1,051,0 9,162,0 15.0+10.0
Totals, Avge__ 96,723,6 659,169,0 67,490,0 7,002,0 67,339,0 488,744,0 15.2+121
Actual figures July 20. 654,581,0 71,362,0 6,803,0 70,869,0 485,918,0 16.1+12.7
The capital of the trust compan es is as follows* Brooklyn. $1,000,000; Bankers,
$10.000,000; United States Mortgage & Trust. $2,000,000: Astor. $1,250,000: Title
Guarantee & Trust, $4,375.000 Guaranty, $5,000,000; Fidelity, $1,000,000:
Lawyers' Title Insurance & Trust, $4,000.000: Columbia-Knickerbocker, $2,000,000; Standard. 31,000,000; People s. $1,000.000: New York, $3,000,000; Franklin.
$1,000,000; Lincoln, $1,000,000; Metropolitan, $2,000,000; Broadway, $1,000,000:
total. $40,625,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Week
ending
Capital. Surplus.
July 20.
Loans.
Specie.
On Dep.
Legal
th C.H.Net
Tenders. Banks. Deposits
Averages.
$
$
$
$
$
$
$
Banks ___ 131,650,0 195,518,2 1,379,796,0285,670,0 82,162,0
Trust cos_ 40,625,0 96,723,6 659,169,0 67,490,0 7,002,0 67,339,0 1,41:3,413,0
488,744,0
—
Total... 172,275,0 292,242,12,038,965,0353,160,0 89,164,0 67,339,0
1,002.157.0
Actual.
ar.pool
Banks
1,381,357,0285,737,0 81,683,0
1,414,486,0
Trust cos_
654,581,0 71,362,0 6,893,0 70,869,0 485,918,0
Total...
2,035,938,0 357,099,0 88,576,0 70,869,0 1,900,404,0
Yam
MA II
The State Banking Department also furnishes weekly
returns of the State banks and trust companies undvr its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled soras to
distinguish between the results for New York 1 ity (Greater
New York) and those for the rest of the State, as per the
following.
For definitions and rules under which the various items
are made up, see "Chronicle," V. 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
Week ended July 20.
Capital as of March 21_ ._
Surplus as of March 21 __
Loans and investments..
Change from last week.
Loans.
Specie. Le(;a,.1. Net Depos- ReAverage. .4verage. Average. its, Aver. serve.
$
Bank of N. Y. 2,000,0 3,786,1 21,914,0 4,308,0
824,0
Manhattan Co. 2,050,0 4,685,0 38,100.0 9,624,0 1,531,0
Merchants.... 2,000,0 2,033,3 20,599,0 4,363.0 1,133,0
Mech. dc Met.. 6,000,0 8,618,6 58,311,0 12,736.0 2,007,0
America
1,500,0 6,324,7 25,669,0 4,521,0 1,983,0
City
25,000.0 28,458,3 191.372,0 37,922.0 7,440,0
Chemical
3,000,0 7,003,0 28,993,0 4,742,0 2,118,0
Merchants' Ex
600,0
522,9
7,009,0 1,638,0
203,0
Butch. & Drov
300,0
, 127,1
1,930,0
501,0
65,0
Greenwich _ _ _ _
500.0
944,9
8.497.0 2,227,0
180,0
Am. Exchange 5,000,0 4,527,1
43,337,0 8,875,0 2,261,0
Commerce_ _ _
25,000,0 15,494,6 143,603,0 19,128.0 12,912,0
Pacific
500,0
046,2
4,725.0
515,0
583,0
Chat. & Phen_
2,250,0 1,244,8 17,885,0 2,921.0 1,743,0
People's
200.0
470,7
1,787,0
428,0
151,0
Hanover
3,000,0 13.346,6 71.976,0 15,114.0 5,765,0
Citizens' Cent. 2,550,0 2,059,0 23,460,0 5,174.0
627,0
Nassau
1,000,0
475,6 10,963,0 1,748,0 1,569,0
Market & Fult. 1,000,0 1,855,1
9,236,0 1,455,0 1,172,0
Metropolitan _
2,000,0 1684.8 11,694,0 2,933,0 • 274.0
Corn Exchange 3,000,0 5,689,8 50,051,0 8,600.0 6,355,0
Imp.&Traders' 1.500,0 7,740,2 26,915,0 3.617.0 • 2,515,0
Park
5,000,0 13,317,3 86,367,0 20,447,( 2,067,0
East River
250,0
69,9
1,439,0
340.0
117,0
Fourth
5,000,0 5,831.9 32,513,0 6,932,0 1,900,0
Second_ __ _
1,000,0 2,441,5 14,243,0 3,348,0
159,0
First
10,000,0 21,585,5 113,536,0 28,750,0 2,521,0
Irving Exch.. 2.000.0 1,546.2 36,177.0 7,554.0 2,862,0
Bowery
250.0
795,2
3,400,0
851,0
91,0
N. Y. County.
500.0 1,758.4
8,404,0 1,316.0
658,0
German-Amer.
750,0
726,5
4,2311
921,0
237,0
Chase
5,000.0 9,100.9 87,348,0 22,908.0 5,605,0
Fifth Avenue_
100.0 2,214.1
13,471,0 2,852,0 1,128,0
German Exch.
200,0
838,1
3,373.0
522,0
354,0
Germania ___ _
200,0 1,044,2 ' 5.441,0 1,210,0
254,0
Lincoln
1,000.0 1.738.,`
17,355,0 3,503,0 1,300.0
Garfield
1,000.0 1,280.0
8,993,0 2,188,0 ..244,0
Fifth
525,9
250,0
3,313,0
417,0
572,0
Metropolis
1,000,0 2,161,2
11,885,0 1,019.0 2,001,0
West Side_ _ _
200,0 1,006,7
4,159,0
887.0
257,0
Seaboard
1,000.0 2,183,2 24,713.0 5,382,0 2,547,0
Liberty
1,000.0 2,707.3 21,732,0 6,394,0
770.0
N. Y. Prod.Ex
1,000,0
9,207,0 2,522,0
833,6
398,0
State
1,000,0
743,2 16,237,0 5,111,0
365,0
Security
1,000,0
418,9 10,536,0 2,673,0 1,049,0
Coal dr Iron... 1,000,0
493,8
6,159.0
971,0
598,0
Union Exch.. 1,000,0
980,5
9,722,0 2,140.0
362,0
Nassau, 13klyn
1,000,0 1,127,0
7,816.0 1,422,0
275,0
[VOL. Lxxxxv.
State Banks
Trust Cos.
State Banks
Trust Cos,
in
in
outside of
outside of
Greater N. Y Greater N. Y. Greater N. F. Greater N. Y
22,387,400
59,756,000
38,732,700
170,776,700
12,085,744
295,394,200 1,207,773,500
—1,914,400 —9,754,500
108,646,100
+176,500
Specie
Change from last week_
54,592,600
—698,400
127,867,700
—208,200
Legal-tenders 4.1c bk. notes
Change from last week.
21,966,700
—37,900
10,687,500
—215,400
9,605,100
$ Veh
9,525,000
12,005,489
.168,773,000
+971,500
ttifotrAil
Deposits
Change from last week_
348,101,000 1,320,997,500
—4,047,500 —7,674,500
Reserve on deposits
Change from last week_
97,891,800
—1,843,100
146,650,000
—1,191,000
22,846,400
—1,500
•
PSI
176,922,300
—759,000
**I
24,051,900
—1,301,500
P.C. reserve to deposits..
Percentage last week
29.1%
20.2%
16.4%
16.4%
21.0%
21.1%
14.7%
15.4%
115,123,100
+290,300
+ Increase over last week. — Decrease from last week,
Note.—"Surplus" includes all undivided profits. "Reserve on deposits" includes
for both trust compan es and State banks, not only cash Items but amounts due
from reserve agents. Trust companies In New York State are required by law to
keep a reserve proportionate to their deposits, the ratio varying according to location as shown below. The percentage of reserve required Is computed on the
aggregate of deposits. exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within thirty days,
renresented by certificates, and also exclusive of deposits secured by bonds
obligations of the State or City of New York, and exclusive of an amount equal or
to
the market value (not exceeding par) of bonds or obligations of the State or City
of New York owned by the bank or held in trust for it by any public department.
The State banks are likewise required to keep a reserve varying according to location, the reserve being computed on the whole amount of deposits exclusive of time
deposits not payable within thirty days, represented by certificates (according
to the amendment of 1910), and exclusive of deposits secured (according to amendment of 1911) by bonds or obligations of the City or State of New York, and exclusive of an amount equal to the market value (not exceeding par) of bonds
or
obligations of the State or City of New York owned by the company or held In
trust
for It by any public department.
—Trust Cos.— —State Banks—
'
for Trust Companies
Reserve Required
Total
Of
Total
of
and State Banks.
Reserve tvhich Reserve
Location—
Required.in Cash.Required. inwhich
Cash
Manhattan Borough
15%
15%
25%
15%
Brooklyn Borough (without branches In Manhat.) 15%
10%
20%
10%
Other Boroughs (without branches in Manhattan) 157o
15%
.734%
10%
Brooklyn Borough, with branches in Manhattan..15%
15%
20%
20%
Other Boroughs, with branches In Manhattan.-- _15%
15%
15%
15%
Cities of the first and second class
10%
5%
Cities of the third class and villages
3%
10%
Elsewhere in State
The Banking Department also undertakes to present separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the rPsults (both actual and average) for the Clearing-
219
IRONICLE
THE
JULY 27 1U12
Boston and Philadelphia Clearing-House Members.-Beouse banks and trust ompanies. In addition, we have
ombined each correvonding item in the two statements, low is a summary of the %xeelily totals of the Clearing-House
thus affording an aggr gate for the whole of the banks and institutions of Boston and Philadelphia:
e martuu ciphc-s t00. In all thesefiOwes•
trust companies in the Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES
Capital
Loans.
and
Surplus.
Banks,
Clear:House Clear -House stale Banks & Total of all
Members. 7'rust Cos. Not Banks &Trust
Week ended July 20- Members.
igures
,
Actual!
Average. In C.-H. Aver. Cog. Average.
$
$
Capital as of June 14_ _
172,275,000
172,275,000
*26,068,400
198,343,400
Surplus as of June 14_ _
292,242,100
292,242,100
*82,647,800
374,889,900
Loans and investments 2,035,938,000 3,038,065,000
Change from last week -15,144,000 -28,429,000
622,037,700 2,661,002,700
-1,944,700 -30,373,700
Deposits
1,903,404,00( 1,902,157,000
Change from last Teek -7,589,000 -14,874,000
a633,081,100 2,535,238,100
-1,182,200 -16,056,200
Specie
.
Change from last week
357,099,000
+7,990,000
353,160.000
+7,187,000
67,546,300
+130,800
420,706,300
+7,323,800
Legal-tenders
Change from last week
88,576,000
-479,000
89,164,000
+2,481,000
b8,383,000
,100
.
-144
97,547,000
+2,330,900
Banks:cash in vault_ _
Ratio to deposit& _ _ _
367,420,000
25.97%
367,832,000
26.02%
11.873.500
13.76%
379,705,500
Trust Cos :cash in vault
78,255,000
74,492,000
64.055,1300
138,547,800
Aggr'te money holdings
Change from last week
445,675,000
+7,511,000
442,324,000
+9,608,000
75,920,300
-7,300
514,253,300
+9,660,700
Money on deposit with
other bks. St trust cos.
Change from last week
70,869,000
+5,240,000
67,339,000
+5,878,000
19,042,200
-1,504,300
86,381,200
+4,373,700
516,544,000
Total reserve
Change from last week +12,751,000
509,663,000
+15,546,000
94,971,500
-1,511,600
604,634,500
+14,034,400
13,798,500
5,367,300
14,478,750
1,180,400
Total
Change from last week
19,165,800
+8,459,250
15,659,150
+13,084,500
% of cash reserves of tr ust cos.16.10%
Cash in vault
12.72%
Cash on dep. with bks
15.24%
12.10%
15.34%
1.18%
28.82%
27.34%
16.52%
Total
RESULTS OF BANKS
AND TRUST COMPANIES IN
GREATER NEW YORK. .
May
May
Juno
Juno
Juno
June
June
July
July
July
18
25__
1...
8..
15..
22...
29..
6.
13__
20_
2,659,189,8
2,661,903,1
2,655,549,3
2,634,657.0
2,673,538.3
2,666,564,3
2,675,205,6
2.699,751,2
2,691,376,4
2,661,002,7
2,532,210,3
2,545,082,2
2,539,401.5
2,514,177,7
2,554,290,8
2,551,635.9
2,564.717,6
2,568,733,3
2,511,294,3
2,535,238,1
Banks.
423,710,1
433.287,6
436.759,2
434,636,3
442,02(1,5
444,169,5
438,614,0
419,280,9
413,382,5
420,706,3
96.065,3
95,044,9
95.864.3
95.070,6
95.950.5
94,364,2
93,770.4
93,032,0
95,210,1
97,547,O
519,775.4
528,3:32,5
532.023,5
529,706,9
537.077,0
538,533,7
532,384,0
512,312,9
508,592,6
518,253,3
599,417,2
607,150.6
614.540,4
606,647,3
623,194,2
624,498,0
621,239,0
604,619,7
590,000,1
604,034,5
Local
Loam,
On
Tender Deposit
Disc'ts
and
Net
Specie. and
with
Bank C.-H. Deposal.
Investrnents
Notes. Banks.
New York City.
Manhattan and Bronx.
$
$
500,0
535,5 2,976,0
Aetna National
327,9 1,495,0
Washington Heights_ 100,0
115,r 1,436,0
Battery Park Nat__ _ 200,0
500,0
5:30,0 5,612,0
Century
400,0
5371 6,316,0
Colonial
300.0
805,4 6,489,0
Columbia
200,0
166,1 1,134,0
Fidelity
250,0
342,1 2,521,0
Morris
Mount
200,0
411,1 4,534,O
Mutual
200,0
281,F 2,934.0
New Netherland
200.0
100,0 1,866,0
Twenty-third Ward
100,0
518,1. 4,168,0
Yorkville
Brooklyn.
300,0
669,1 3,853.0
First National
894,f 6,030.0
Manufacturers' Nat.._ 252,0
1,000,0
710,7 11,053,0
Mechanics'
590,4 4,152,0
300,0
National City
200,0
170,4 2,194,0
North Side
Jersey City.
400.0 1,329,1 5,259,0
First National
808,7 3.695,0
Hudson County Nat. 250,0
417,` 2,228,0
200,0
Third National
Hoboken.
6591 4,017,0
220,0
First National
2971 3,0161
125,0
Second National
Totals July 20
Totals July 13
Totals July 6
Imports and Exports for the Week.-The following are
the imports at New York for the week ending July 20; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
$2,854,954
12,623,743
$3,451,813
17,001,046
010,0
155,0
369,0
554,0
746,0
584,0
50.0
400.0
474,0
312,0
224,0
505,0
303,0
565,0
1,270,0
572,0
201,0
271,0
217,0
101,0
182,0
187.0
1909
1910.
1911.
1912.
For wee/c.
$2,915,743
12,499,568
$3,517,925
11,493,059
$20,452,859 $15,478,697 $15,415,311 $15,010,984
$80,253,738 $77,618,775 $88,539,352 $95,910,837
478,301,572 404,645,970 436,814,151 386,095,290
$558,555,310 $482,264,745 $525,353,503 $482,006.127
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending July 20 and from Jan. 1 to date:
EXPORTS FROM NEW YORK.
1909.
1910.
It1911.
1912.
For the week
Previously reported
$16.998,610 $13,821,101 $12,390,022 $12,425,316
449,020,183 420,458,654 349,401,744 337,759,353
Total 29 weeks
$466,018,823 $434,279,755 $361,791,766 $350,184,669
The following table shows the exports and imports of
specie at the port of New York for the week ending July 20
and since Jan. 1 1912, and for the corresponding periods in
1911 and 1910:
Tot. Money Entire Res.
Holdings, on Deposit.
Legals,
We omit two ciphers(00)in all thesefigures.
SurPlus.
I7t
437,868,0 15,069,0 147,602,4
438,628,0 15,048,0 151,193,0
437,703,0 15,054,0 153,438,6
441.647,0 15,038.0 175,778,4
438,625.0 15.054.0 152,053,7
435,660,0 15,049,0 161,649,1
Imports.
Exports,
Specie.
Reports of Clearing Non-Member Banks.-The following is
the statement of condition (4 the clearing non-member banks
for the week ending July 20, based on average daily esults:
Cap1tel.
15.077,0 132,611.8
t 439,365.0
436,562,0 15,084,0 161.931,7
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
We omit two ciphers in all hosefigures.
Loans and
Investments. Deposits.
8,266,0 129,127.2
8.252,0 177,547,4
8,240,0 174,474,5
8,244,0 156,028,6
8,250,0 161,387,0
8,267,0 179,258,5
8,275,0 180,222,4
8,271,0 181,245,4
a Includes Government deposits and the item "due to other banks." At Bostoii
Government deposits amounted to $808,000 on July 20, against $808,000 on July 13
t "Deposits" now include the item of "Exchanges for Clearing House," which
was not previously embraced in the total. "Exchanges for Clearing House" were
reported on July 20 as $14,121,000.
Total 29 weeks
The averag 's of the New \ ork City Clearing-House banks
and trust companies, combined with those for t e State hanks
and trust companies i Greater New Y. rk outside of the
Clearing House, compare as follows for a series of weeks past:
96,558.0
96,355,0
96,591,0
97,190,0
94,597,0
96,427.0
98,415.0
97,184,0
80,623,2 391.429,0
80.623,2 391,567,0
80,623,2 391.789,0
80,623,2 392.664,0
80,623,2 392,039.0
80,623,2 390,652,0
80,623,2 390,152.0
80,623,2 388,805,0
Total
Since January 1.
Dry goods
General merchandise
+ Increase over last week. -Decrease from last week. * As of March 21.
a These are the deposits after eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City": with this item included,
deposits amounted to $701,096,600, a decrease of $4,013,600 from last week. In
the case of the Clearing-House members, the denosits are "legal net deposits" both
for the average and the atcual figures. b Includes bank notes.
Week
Ended.
$
$
$
$
$
41,575.0 224,818.0 24.781,0 4,422,0 262,539,0
41,575,0 232,641,0 25,024,0 4,620,0 277.022,0
41,575,0 239.063,0 27,364.0 4,562,0 288.915.0
41,575,0 237,775.0 27,757.0 4,656,0 283,778.0
41,575.0 239,454,0 27,200,0 4,935,0 287,338,0
41,575,0 239,395,0 26,212,0 1,827,0 291,163,0
41,575,0 241.243,0 25,011,0 5,470,0 287,049,0
41,575,0 243,587,0 26,048,0 5,307,0 281,234,0
Dry goods
General merchandise
Surplus CASH reserve
Banks (above 25%)- Trust cos.(above15%)
COMBINED
Boston.
June 1
June 8
June 15
June 22
June 29
July 6
July 13
July 20
Philadelphia.
June 1
June 8
June 15
June 22
June 29
July 6
July 13
July 20
Clearings
Specie. Legal,. Deposits.
dation.
a
69,0
55,0
41,0
415,0
415,0
501,0
132,0
45,0
327,0
103.0
98,0
306,0
107,0
172,0
166,0
880,0
883,0
777,0
169,0
238,0
455,0
258,0
256,0
700,0
2,602,0
1,229,0
1,618,0
5,559,0
6,540,0
7,310,0
1,089,0
2,781,0
4,792,0
2,795,0
2,023,0
4,665,0
129,0
471,0 3,057,0
368,0
722,0 5,678,0
829,0 1,543,0 13,452,0
91,0
878,0 4,109,0
90,0
335,0 2,185,0
395,0 1,137,0
84,0
582,0
140,0
455,0
54,0
48,0
411,0
328,0
Gold
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Week.
14,750
600
Siam Jan.1
$391,272
1,998,676
$20,146,522
15
$47,250 2,669,775
87,850
306,768
49,406
7,974
9,328,452
51,983
183,662
8,213,317
1,578,040
850,915
$62,600 $32,196,747 $371,998 $13,215,882
118,656 7,756,209
2,500 2,764,941
740 44,301,103 1,826,247 7,877.860
Total 1912
Total 1911
Total 1910
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$1,248,383 $25,619,211
3,417,311
226
78,391
300
25,349
705,530
$1,248,909 $29,845,792
848,589 27,519,264
1,257,093 24,403,517
Total 1912
Total 1911
Total 1910
$1,008
98,198
32,7(36
4,589
bE••
$3,329
4,980
F 15,335
30,270
2,875,159
1,955,628
743,611
$136,561 $5,628,312
74,851 4,524,244
38,259 2,330,912
Of the above imports for the week in 1912, $15,188 were
American gold c in and $1,035 American silver coin.
Aanhing and `EinanciaL
Railroad and Industrial Stocks
Write for our Circular No. 614 entitled "Railroad and Industrial
Stocks," which describes 124 issues listed on the New York Stock
Exchange, and classified by us as follows: Investment Stocks, SemiInvestment Stocks, Speculative Stocks.
Spencer Trask & Co.
43 EXCHANGE PLACE-NEW YORK.
Chicago, III. Boston. Mass. Albany, N. Y.
Members New York Stock Exchange.
4.313,0
2,012,0
1,582,0
White, Weld & Co.
1,646,0
1,339,0
6,597,0 11,219,7 '6,976,0 8,852,0 4,741,0 11,923,0 82,436,0
6,597,0 11,219,7 '6,5171 8,761,0 5,083,0 13,141,0 82,186,0
6,597.0 11,219.; 15,3691,8,399,0 4,487,0 14,778,0 80,589,0
Since Jan.1
Bonds and investment Securities.
14 WALL STREET
NEW YORK
THE ROOKERY
CHICAGO
111 DEVONSHIRE STREET
BOSTON
220
THE CHRONICLE
Vaulters'
antibto
Wall Street, Friday Night, July 26 1912.
The Money Market and Financial Situation.-Although
practically all the news of the week, except perhaps the
recommendations of the Stanley Committee, has been of a
favorable character, the volume of business in the security
markets has been limited and last week's closing prices have
barely been maintained.
• Crop advices have, of course, had a most important
influence. These have been supplemented by an advance in
copper metal to 173
4 cents by reports of increasing orders
in the iron and steel industry, the latter including, railway
equipment, and by the announcement of a better feeling in
English financial circles with some recovery in Consols.
Politics have not had a prominent place among the factors
which controlled the market, but they undoubtedly do have
a deterrrentinfluence. Naturally the possibility of a change
in both the Legislative and Executive departments of
Government would have such an effect. No one, we imagine,
is inclined to take seriously the recommendations of the
Stanley Committee, but if adopted they would undoubtedly
work great harm to the leading industries of the country as
well as mischief in other directions.
As is generally well known, the crops,except corn,are now
so far advanced as to be practically beyond the possibility
of serious damage from any cause whatever and the benefit
which the country at large will receive therefrom can hardly
be overestimated. Already the grain-carrying roads are
preparing for a largely increased traffic, not only in handling
the crop, but also the general bithiness which will result.
No noteworthy change has occurred in the financial situation at home or abroad. The foreign bank statements show
improvement in some particulars. British consols made a
new low record early in the week but recovered later. In
the home market time loans are in better demand and are
commanding slightly higher rates.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2Y/@,3%. To-day's rates on call were 23@2Y4%.
Commercial paper quoted at 4%@4%% for 60 to 90-day endorsements and for prime 4 to 6 months' single names and
531% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £201,385 and the percentage
of reserve to liabilities was 50.38, against 50.98 last week.
The rate of discount remains unchanged at 3%, as fixed
May 9. The Bank of France shows an increase of 12,950,000
francs gold and a decrease of 7,575,000 francs silver.
NEW YORK CLEARING-HOUSE BANKS.
(Not including Trust Companies.)
1912.
Are-ages for
week ending
July 20.
Differences
from
previous week.
1911.
Averages for
week ending
July 22.
1910.
Averages for
week ending
July 23.
$.
S
$
131,650.000
135,150,00( 132,350,000
Capital
195,518,500
190,141,301
Surplus
189,131,400
Loans and discounts_ _ 1,379,796,000 Dec. 21,208,000 1,386,581,001 1,182,459,500
45.942,000 Dec.
132.000
47.428.Oa
Circulation
48,566,800
Dec.
11.854,000
1,422,348,001
1,413,413,000
1,185,005,100
Net deposits
285,670,000 Inc. 7,521,000 290,611,000 266,047,700
Specie
82,162,000 Inc. 2,772,000
78,836,000
Legal tenders
70,517,000
•
I
367,832,000 Inc. 10,293,000 369,447,000 336,564,700
Reserve held
353,353,250
Dec.
355,587,000
2,963,500
25% of deposits
296,251,275
r Surplus reserve
14,478,750 Inc. 13,256,500
13,860,000
40,313,425
Note.-The clearing House now issues a statement weekly, showing the actual
condition of the banks on Saturday morning, as well as the above averages The
figures, together with the returns of the separate banks and trust comnanles, also
the summary Issued by the State Banking Denartment giving the condition of State
banks and trust companies not reporting to the Clearing House, appear on the second
page preceding.
[VOL. Lxxxxv.
State and Railroad Bonds.-Sales of State bonds at the
Board include $10,000 New York 4s, 1961, at 1013/
2; $2,000
New York 4s,.1958, at 101 to 10131; $1,000 New York Canal
4s, 1961, at 1013/
2, and $59,000 Virginia 6s deferred trust
receipts at 52 to 533/2.
The market for railway and industrial bonds has been less
active than for a long time past. So limited has been the
demand that of a list of 25 active issues 14 are lower, 6 are
unchanged and only 5 are fractionally higher.
United States Bonds.-Sales of Government bonds at
the Board are limited to $20,000 Panama 3a coup. at 101%.
The following dre the daily closing quotations; for yearly
range see third page following.
Interest
Periods
25, 1 GO
registered
Is, 1 GO
coupon
Is, 1 08-18
registered
3s, 1 08-18 •
coupon
4s, 1 125
registered
coupon
4s, 1 25
2s, 1 136_Panama Canal regis
Is, 1 161..Canama Canal coup
Q-Jan
Q-Jan
Q-Feb
Q-Feb
Q-Feb
Q-Feb
Q-Feb
Q-Mch
July
20
July
22
July
23
July
24
*10034 .10034 *1003.' *10034
*1003% *1003% .1003% *1003%
*102 *102 *102 *102
*102 *102 *102 .102
4 *1133; *1133%
*1133% *1133
*1133% *113 4.1.133-, *113zR.
*1003% *low .1003% *my
3 101% 101% *101%
*101%
July
25
July
26
*10034 .10034
*100% *100%
*102 *102
*102 *102
*1133% *113%
*113% *113%
*10034 *10034
*1013% *11:113%
* This is the price bid at the morning board: no sale ,rts made.
Railroad and Miscellaneous Stocks.-The stock market
has, as noted above, been unusually dull and prices have generally fluctuated narrowly. There has been practically no
change in the tone of the market from day to day, and of a
list of 15 active railway issues several close without net
change, although each has been traded in daily; only 4 of
this list are higher. Great Northern is conspicuous for an
advance of 23
4 points and Northern Pacific is 13/2 hi0er.
Some of the industrial list have been erratic. National
Biscuit closes 133
4 points lower than it sold on Monday.
General Electric, on the other hand, advanced 9 points on
the prospect of a stock dividend. Sears, Roebuck & Co.
has covered a range of 6 points and closes near the highest.
American Tobacco shows a net advance of 5 points, Liggett
& Myers 23/2 and Snuff 2. Other changes in this group are
generally to a lower level, although rarely exceeding a point.
For daily volume of business see page 230.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Sales
Week ending July 26. for
Week
kIlls-Chal rects 1st paid
Pref rects 1st paid_
km Brake Shoe & F p-refNmer Coal Products__ __
Preferred
kinerican Express
km Tobacco pref
Batopila.s Mining
Brunswick Terminal_ _ _.
Buff Roch & Pittsburgh
Preferred
3anada Southern
3omstock Tunnel..
)etrolt United
I, I du Pont Powd, pref
3eneral Chemical
Preferred
lreen Bay & W deb B._
iomestake Mining
:nt Agricul Corp v t c
Preferred Y t c
tnick Ice (Chic) pref...
1-ackawanna Steel
d St P & S S M leas liner
,Tew York Dock, pref...
Vorfolk Southern
)(mine Tel & Tel pref
'eoria & Eastern
.ittsburgh Steel pref__.
re-as Pacific Land Tr..
I S Indus Alcohol pref.
I S Reduc & Refg pref
J S Rubber rights
rulcan Detinning
Range for Week.
Lowest.
Highest.
Range since Jan. 1.
Lowest.
Highest.
200 13% July 2`.
13% July 26 13% July 2% May
251 4% July 2.
5 July 2.
434 Jun( 6
May
10( 14134 July 2: 34134 July 2: 130
Jar 141% July
401 953% July 21 06 July 2- 9534 July 98 June
10( 108% July 21 '083% July 2: 308% July 111
July
71 210 July Z '12 July 2,-00
Fel 125 April
401 107% July 2! '073% July 21 102
Jar MU Jan
1,000 513% July 21 S2 July 21
$% Mel- 823% April
101 9 July 21 9 July 2: 8
Jar
q May
201 119 July 2r '1934 July 21 105
Jar 1193% July
101 130 July 2: 130 July 2:' (30
July 137
June
11 683% July 21 683% July 2( 65
Jar 683% July
1,101 13c. July 2C 13c. July 22 leo. April 16c. Feb
1.00( 703% July 2; 7434 July 21 633% Jar 743% July
301 95 July 21 953% July 21 903% Jar 9534 July
20( 172 July 21 172 July 21 128
Jar 172
July
101 Ill
July 2: 11234 July 2( 1063% Meh 11234 July
11 123% July 2: 13 July 21 103% Feb 13
May
31 963% July 21 9634 July 2:. 863% Mch 963% May
101 50 July 24 50 July 2 50
July 5334 July
40( 9534 July 2: 96 July 21 94
July 99 June
20( 75 July 2( 753% July 2( 70
July 76
July
Mel) 403% Jiuy
1,25 36 July 2( 403% July 2( 29
201 863% July 2- 863% July 2: 8634 May 883% Jan
101 4134 July 2, 413% July 2. 40 June 50
Mch
101 483% July 21 483% July 21 46 July 55
May
201 9834 July 21 WO July 2 983% July 10034 May
101 15 July 2: 15 July 2 13% April 173% April
5( 102 July 2: 102 July 2 '01
Feb 1033% June
101 92 July 24 92 July 2, 89 April 963% July
20( 10434 July 2:= 104% July 2.- f 95
Jan 104% July
101 434 July 25 434 July '2!
43% July 103% April
3,081 '-16 July 2(1
34 July 2: '-16 July
% June
501 18 July 23 18 July 2: 15
Jan 273% Feb
Foreign Exchange.-The quotations for sterling exchange
Outside Market.-United Cigar Stores absorbed the attenwere gradually advanced during the week until Friday, when
moderate reaction occurred, due to renewed offerings of tion of the "curb" market this week the expectation regardthe details of same causing the new financing plan and later'
finance bills.
To-day's (Friday's) nominal rates for sterling exchange were 4 853% for ing a rapid advance in the stock. From 260 it sold up to
actual
rates
for
sterling
To-day's
exchange 283, reacted to 275 and moved upward again, reaching 2853/2
sixty day and 4 88 34 for sight.
were 4 8475@4 8485 for sixty days, 4 8765®4 8775 for cheques and 4 88@
new company also attracted con4 8810 for cables. Commercial on banks 4 83@4 843% and documents for to-day. The stocks of the
payment 4 84 e4 8534. Cotton for payment 4 8434 ®4 84 % and grain for siderable interest, the new corn., "w. i.," being reported
payment 4 853%@4 8565.
selling finally around 91 and the new preferred, "w. i.,"
• The posted rates for sterling exchange, as quoted by a representative as
house, were advanced 34c. on Thursday to 4 8534 for sixty days and 4 88% around 120. British-American Tobacco declined from 32 to
for sight.
207A, ex-rights, the close to-day being at 21. The "rights"
To-day's (Friday's) actual rates for Paris bankers'francs were 520 less 1-16
@5 20 for long and 5 1734 less 1-32 ® 5 173% for short. Germany bankers' were traded in in considerable volume, up from 93 to 931
marks were 94 11-16 ®94 %, for long and 953% less 1-32 ® 953% for short. and down to 7%. B. F. Goodrich coin, advanced from 75
Amsterdam bankers' guilders were 40 3%®40 % plus 1-32 for short.
Exchange at Paris on London, 25f. 250.; week'S range, 251. 25 %c. high to 793/2 and reacted to 79. The first dividend, 1% was deand 251. 24 tKe. low.
clared on the stock this week. Intercontinental Rubber corn.
Exchange at Berlin on London, 20m. 493%pf.; week's range, 20m.49 %pt.
appeared at 133/s. Julius Kayser & Co. coin, rose from
high and 20m. 49pf. low.
week
follows:
4 to 1113
exchange
for
the
The range for foreign
4, with a final
88 to 91 and the preferred from 1093
Cables.
Sixty Days.
Cheques.
Sterling, Actualreaction to 1113/2. Loose-Wiles Biscuit stocks were listed
4 8820
High for the week._ _4 8495
4 8785
4
8790
4 8760
Low for the week _ _4 8465
on the Stock Exchange. Manhattan Shirt com, improved
•
Paris Bankers' Francsfrom 5831 to 583/
2, the preferred being traded in at 100%.
5 1734
5 1734
High for the week..._ 5173%
Low for the week___ 5 1734 less 1-16 5 173% less 1-16 5 173% less 1-16 Standard Oil of N. J. lost about 3 points to 388, the final
Germany Bankers' Markstransaction to-day being at 389. Standard Oil of N. Y.
05 5-16
0534
953%
High for the week94 % less 1-32
953% plus 1-32 moved up from 495 to 505. Business in bonds was small.
Low for the weelr__ _95 3-16 plus 1-32
Amsterdam Bankers'GuildersCopper shares were steady, though generally inactive.
40 N plus 1-32
40'% plus 1-16
4034
High for the week__ _
40 % less 1-32
40 % plus 1-16 Braden Copper fluctuated between 7 and 731 and ended the
40 % less 1-32
Low for the week_ __
DOMESTIC EXCHANGE.-ChIcago, 10c. per $1,000 discount. Boston week at 738. British Columbia improved from 53/2 to 5%.
par. St. Louis, Sc. per $1,000 discount bid and par asked. New Orleans, Giroux advanced from 4% to 5. Greene Cananea was off
commercial, 25e. per $1%000 discount and bank $1 premium. San FranMason Valley weakcisco, 40c. per $1,000 premium. Savannah, buying, 3-16% discount, and from 10 to 9%, but recovered to 103/8.
qelling, par. Montreal, 62 34c. discount. Charleston, buying, par: sell- ened from 13% to 133/2 and ends the week at 135
%.
ing, 1-10% premium. Minneapolis, 400. per $1,000 premium. CincinOutside quotations will be found on page 230.
. ......... • I
nati, 15e. per $1,000 premium, , . . • . . .
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OCCUPYING TWO PAGES
week of stocks usually Inactive, see preceding page.
For record of sales during the
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Saturday
'July 20
Tuesday
July 23
Monday
July 22
Wednesday
July 24
Thursday
July 25.
Friday
July 26.
Bates of
rns
Week
Shares.
STOCKS
NEW YORK STOCK
EXCHANGE
Range since January 1.
On basis of 100-share loss
Lowest.
Highest.
Range for Previous Year 1911.
Lowest.
Highest.
Railroads
do Santa Fe
A toilDTo
L 35
pref
Atlantic Coast Line RR
4./altim
D oore&
prerOhio
PP
Brooklyn Rapid Transit_
i lanadian Pacific
kientral of New Jersey _
Chesapeake & Ohio
Chic Gt West trust ctfs
Do pref trust ctfs
Chicago Milw & St Paul ._
Do pref
Chicago & North Western
10314 Feb 1 11058 Apr 8 9972 Sep 11658 rile
10858 10834 10812 10878 108 10838 10814 10838 10778 10858 10812 10878 13,000
10138 Jan 2 10414 Feb 10 10034 Jan 10512 J'n•
460
10273 103 *10212 10278 *10212 10278
103 103 *10212 103 3103 103
13318 Jan 10 14312 Apr 9 117 Jan 13914 Nov
800
*13912 14012 513912 14012 .139 14012 140 1401. *140 14034 14034 141
9312 Sep 10914 Xly
Feb 1 11178 Apr 30
r10114
7,800
10978
10934
10934
10912 10934 10912 10935 10914
10912 10978 l0958 110
91 Jan
n 23
2
8512 Aug
04 jJJ'lyy
8718 J'iy 15 9112
10))
88
*8712 8812 *8712 8812
8812 *8712 8912 88
8812 *87
*87
72 Sep
8458 J'ly
4 Jan 2
763
10.325
9218
913
4
9218
9112
9214
8
917
92
917
s
9178
9178 923s 9112
195
5
8
Jan
247
J'iy
270
4
May16
22612
Men
15,325
26612
26514
26614 2861? 26478 26578 264 26434 264 265
26578 266
305 Jan 9 395 Apr 29 '260 Aug 320 Deo
*370 395 5370 395 *370 395 *360 395 *370 395 *370 395
6838 Sep
8634 Feb
6814 Feb 1 8158 Apr 11
3.800
81
8034
807
8
80
8038
8038
81
8078
8114
80
8034
481
2514 J'ne
17 Sec,
300
1633 J'ly 12 2012 Apr 8
17
171. *1634 1718 *1634 1718 17
1714 1714 *17
1718 171s
3512 Dec
4914 Feb
3178 J'iy 11 3912 Apr b
200
*3338 34
*3214 34
34
*3314 3418 *33
34
*33
3418 *33
4 Apr 6 10534 Oct 13312 Feb
J'iy
13
1123
8
915
3
18.829
4
10338 10
103 10334 10358 10412 10234 10312 103 10334 103 104
80
140 J'ly Is 146 Jan 2 141 Sep 15512 Feb
*141 143 *140 143 '
,140 142 *140 143 314018 1401s *14014 142
13412 J'ly 12 145 Apr 2,, 13818 Sep 15012 J'ne
3,200
13814 13955 13914 140
13814 139
13812 13812 139 13915 13814 139
190 May 4 198 Mch28 191 Nov 3209 Jan
190
*180
190
*180 195 *180 195 '180 190 0180 190 *180
338 Feb
Chploo
133 Sep
Unre
278 Apr lb
T
trao
118 Feb 16
ctfs stmpd
212
212 *2
21: *2
212 *2
217 *2
*2
212 *2
434 Sep
714 Feb
1014 Apr 18
Do 8ref ctfs strand__
100
4 Mch 21
*612 734
8
*0
8
*6
*6
714
618 618 *612 8
66 Jan
481s Sep
Apr
23
6212
28
5412
Mch
59
*5158
59
*5112
*5112 59
59
$51
*5112 59
*5112 59
98
Feb
Feb
9414 J'1Y
*99 1013., *98 1013., *98 10134 *98 10134 *98 1013.1 *99 1013,
700 Cril
.
e11
1wPia
rne
5
,28
4 11A112 '1,ff, 17b 159,3 Sep 17478 J'ne
re
Fi
&t°11
4
u:stein::: lgrs
*167 1681- '
,167 16812 *167 168 *167 168 *167 16812 16714 16814
Sep
570
Nov
505
I
5
29
2u
569
Jan
J'ne
535
elavvare
West_
Lack
&
538
536
*525
*525 536 . ,525 536 *525 536 *525 536 *525
35 Feb
1758 Dec
100 Denver & Rio Grande___
1812 J'iy 12 24 Meh27
19
1912 19
1912 *19
1912 *19
1912 *19
*19
191? *19
74 Feb
483
Do pref
3414 J'ne Is 4614 Jan 24
3634 Dec
3518
3532 3558 354 3518 35
35
535
36
3534 *35
*35
1583 Mch
is Nov
Duluth So Shore & Atlan
812 Meh 4 1134 May16
912 *312 917 *)02 912 *812 912 *812 9,1r *812 012
171g Dee
3018 5.I eh
. Do pref
16 Mel] S 23 Mayl.,
*1612 20
*1612 20
*1612 20 *1612 20
*1612 20
Edo
*1612 20
2714 Jan
2838 J'iy
Apr 11
15
3918
351:400H):
Jan
3014
36
8
353
357k
3538
355
8
•
3518
3578
3512
5,,,,
3514 3514 3512 331s
4558 Jan
6114 J'ly
Do 1st preferred
5018 Feb .3 57, Apr 11
5312 5334 5278 533s 5314
543s 5338 54
5312 53'4 54
35 Jan
Do 2d preferred
300
40 Feb 3 48 Apr 11
4934 J'15"
4412
4417 *43
4434 *43
*43
44
4412 *43
44
44
*42
Great Northern pref
J'iy 26 119 Sep 110 J'ne
111
Jan
15
44,700
126
141
13958
140
13712
137
137
1375s
137
13738 1373, 13734 138
633.j Feb
3334 Dec
Iron Ore propertles
36 Jan 31 45145rly 3
4314 4318 4334 3,000
4218 42
42
42
42
*4212 4312 4278 43
Jan
J'iy
132
147
ContraI
eo
r Lsoro_
!,
,(41 I nilth
1
12058 May 9 14118 Jan 23
13178 *132
13118 13118 *13012 132 *131 132
131 131
131 131
2038 Feb
1318 Sep
Sietrop v t ctfs 1638 Jan 3 22 J'ly 2
20
1934 2014 N14
1978 2018 20
4
*2018 2017 2014 2014
?
3,900
563
s
J'iy
Do
62
Meh
26
5338
Jan
3
Sep
323
4
pref
585s
51378 591) 5314 5878 5838 585) 58
5834 59
2514 Sep
3738 J'ne
2212 May29 2914 Mehl,
400 Kansas City Southern_
2434 25
25
*2434 2512 2434 2434 *2412 25
*2412 251. 25
6112
J'ne
Sep
6934
Mch
25
May29
6518
56
591f.
*5(3
*56
60
*56
*56
60
60
*56
60
60
*513
16 Sep
17 Nov
Jan 26 18 Apr 24
*14 171112
015r0ireet&errteVdeStern_
17
*14
18
*14,
*14
18
17
*14
17
*14
25 Sep
40 Jan
30 Jan 8 40 May21
100
38
38
31)
39
*38
3811, *38
391f, *38
*38
3912 *38
151
Sep
18678
Dec
15
Feb
5
Jan
Lehlzh
1853
4
1557
8
18,000
Valley
168
18534 16612 166 16733 18714
16718 168
18638 187
16738 168
15712 1577, 15778 15812 2,850 Louisville (3c Nashville_ 14978 Feb 1 183 Apr 9 1J612 Sep 16034 Nov
15712 1581r 158 15131s 157 15712 157 157
J'ne20 13834 Itch 13 13114 Sep 14212 Jan
Mao
131
p
465
13458
13433
13514
1341?
*134
*134 13514 13412
113514 13514 135 135
4212 Sep
2112 Apr
920 /*a Inneapolis & St Louis 1812 J'iy 24 2712 Jan 23
1914 1914 1912
*1814 1934 *1834 1912 *1712 20
1812 1858 19
35 bleb
6812 Sep
340 Feb 26 157 Jan 16
preferred
140
48
*40
48
*40
48
*40
*40
48
*40
48
*40
48
4,675 Minn St P & S S Marie_ 129 Feb 3 14812 J'iy 10 2121:14 Sep 15214 Mch
147
14714
145
14814
14634 14634 14612 1467, 14614 14612 145 146
14714 Feb 1 15(3 J'ly 15 146 Nov 100 MO
Do preferred
200
155 158
*152 155 *152 155 *150 154 *150 155 *150 155
.3818 J'ne
27 Sep
2558 J'iy 13 3158 Mak 27)
2714 2738 1,000 Mo Kansas & Texas
27
27
28
*2718 2712 2712 2712 2712 2712 *27
6234 Sep
70 Oct
5738 Nlay2u 66 Apr 17
re
p
fa
e
r
c
0urp
t
r
ie
nd
e
3
0
sits
D
6012
05
0
3
1
0
6,
*60
6012
6014 *59
6818 6018 6018 *5978 6012 *59
*59
3314
Sep
63 Feb
12
J'ly
4734
Mch
27
35
3614 3614 3614 365s 3612 3634 3512 3614 3512 3614 3612 3634
60 Aug
Nat flys of Mex ist pref 63 May17 71 Jan 4
7238 Jan
69
4
*653
69
*8618
6914
*86
6914
*6614
*86
8914 *8834 89
25'3 Aug
3838 Feb
28 Apr 1 36/8 Jan 20
Do 2d preferred___
1s 1
*3034 3112 3058 3058 *3012 31
31
3112 31
, *31
NIY Central Fe Hudson__ 10614 Jan 0 12112 Apr 25 29978 Sep 11512 Feb
)I
40%
116 11618 1,3
11512 116
•
1151
110 116
..., 4 116
___14 11512 11512 *11512 116
it N H & Hartford__ 134 J'ne lb 14214 Apr 1 12378 Sep 15118 Feb
51
700
130
*135
136
1353
4
136
135
136 136
013412 136 0135 136
3734 Sep
4613 J'ly
297R J'ne25 4138 Apr 12
580 N Y Ontario & Western_
3234 *3214 3278
3234 3234 3234 3234 33234 3234 3212 3234 *32
8678 J'ne 1 9.134 Apr 26
200 N Y State Railways__
*8834 8934 8912 8912 *8834 8934
89
89
90
*89
90
. *89
9934 Seo 11114 Nov
110734 Feb 1 11738 J'ne2i
&
Western
Norfolk
11634
117
5,435
11634
11678
11612
11634
1163
8
11678 11678 11678 11718 11612
9114 J'ne
8534 Apr
NoD
rooh
aidoluTsrtamoe&
ntuporhett:: 88 J'ne 12 92 Feb 17
*88
00
90
90
*88
90 - -. *88
*88
90
, *88
3912 Jan
5534 Nov
56 Itch 11 9718 Apr 16
63
63
*81
5 *60
„..„.
*61
63
63
, *62
6 11034 Sep 13778 J'ne
12558
Apr
15
11538
Jan
Northern
Pacific
39,664
1.
203
.
4
1
2
-114
121
123
12234
124
112
2
1
12134 12238 12034
12112 122
13018
Feb
11834
Sep
2
May
12212
12614
Jan
0
12334 12334 12312 12358 12314 12378 12312 12334 4,375 Pennsylvania
12334 12378 12334 124
9018 Sep 1011 Jan
9812 Jan 2 11014 May20
lici
ed& St L
10714 10712
225 Pittsb CpithefCeIrr
*10712 108 §108 108 *106 10734 *106 10812 *108 10714 *10914
10218
112
Feb
Sep
Feb
117
20
10812Jan
2
Do
100
117
117
*10914
117
*110
114 1.14 *110 117
*10914 117
i
14818 Jan 11 17914 Apr 29 134 Sep 16178 J'ne
16258 16312 16214 18458 18418 16514 161,400 1.4 eads
165 16612 x16258 164
16514 166
88 Met' 92 J'ly
8712 J'ne 27 9314 Apr 29
1 rl'preferred
3
-5
.
1
100
90
90
00
*89
90
*89
90
*89
90
*80
90
*89
3012 Sep 101 May
94 Jan 11 10112 Apr 29
2d preferred
9612
9612 *96
0612 *95
9712 *9512 9712 •95
2234 Sep
9712 *95
3438 J'ne
2213 May.31 3012 Apr 8
*96
1,900 Rook Island Company__
24-34 25
2438 2438 2414 2438 *2418 25
2458 25
25
*24
4334 Dec
6858 J'ne
4714 J'iy 16 5958 Apr 5
Do preferred
1,000
4812
4812
48
4734
49
48
4834
49
4878 4912 4834
49
23 Dec
26
27 Oct
May22
Mch
2912
2134
Louls
&
St
San
__
Fran
700
2318
2314 2318
2314 2314 2318 2314 23
23
*23
25
*24
59 Sep
61 May10 6912 Jan 23
Do 1st preferred._
6914 J'iy
100
62
*60
82
*60
*62
84
61
61
64
*61
*62
84
37 Sep
491. J'iy
3312 J'ly 21 4334 Apr 11
Do
2d
preferred
4,700
3414
34
34
12
3312
3312
3518
3634 3634 3618 3788 3518 36
21 Jan
34 Feb
'2934 Jan 22 3458 Apr 2
200 St Louts Southwestern
32
32
3214
32
*30
32
*30
,P31
3212 *30
33
*30
5934 Jan
72 J'uo
8812 Jan 17 7718 Apr 8
Do preferred
300
7318 7318 73. 73
74
7412 *7334 7438 *73
*7312 7412 *73
2712 Apr 4
2258
J'ly
12
Seaboard
Air
1,400
Line
2338
2338
2388
2318
2338
23
2314 2312 2334 2318 2338 23
J'ne
7
16
5612
50
3
8
Apr
•
Do
2,000
preferred
5312 *5312 54
53
5314 5358 5234 5338 5318 5314 5314 5338
10512 Feb 1 11512 Apr 8 10412 Sec) 12638 J'ne
Southern
10918 10938 109 10934 110 11014 6,000 Southern Paoltio Co
11014 1105s 11014 11012 10914 110
2434 Sep
3338 J'ly
2617 Jan 31 3118 Apr 9
v tr Ws stmpd_
7,600
2914 2834 29
2853 2878 2812 2878 2834 29
2918 2914 29
6114 Jan
6814 Feb 4 7734 Ply 8
Do pref
7514 J'IT
do
1,910
77
7738 7834 7738 77
7738 7712 7738 7758 7718 7714 *77
3014 Feb
1978 Dec
2012Jan 3 2614 Apr 2
Texas & Pacifier
500
2134
2134
2212
*2112
22
22
52212 23
2212
2212
*2212 23
Dec
31
Nov
41
351
Jan
9
bird
J'ly
12
4934
2
Ave
New
1
.
1,800
3758
3712
37
*3612
*3612 37
*3734 38
3712 3734 3812 37
814 Jan
4 Nov
Toledo Railways & Lt
3 Jan 15 1058 Apr 16
6
*5
*378 6
6
*5
6
*5
6
*512 6
*5
2434 Feb
12 Dec
1234 Meh 4 1638 Alch27
Toledo
St
L
Western__
&
900
1378
1378
1378
1378
1378
1334
1378 1378 1334 1334 1358 1358
3478 Dec
5378 Jan
28 J'ne 7 36 Apr 8
Do prelerred
1,400
3134 32
3114 3114 3112 3134 3158 3158 3134 3218 3184 32
500 Twin City Rapid Transit_ 10412 Jan 5 103 May16 104 Sep 111 Feb
10734 10734 10712 10712 *10812 103
*108 10812 *108 10812 108 108
Apr 9 15312 Sep 19238 J'iy
160
Feb
1
17558
Mon
Pacific
I
1
101,050
4
16834
1603
1667
8
113914
16814 16912 16738 16812 16718 168
16814 189
96 J'iy
89 Sep
8934 J'iy 11 9358 Feb 27
Do preferred
800 5-.L
*9018 0012 *9018 9034 *90111 0058 *9018 0058 9018 9012 9014 9014
2812 Sep
49 Feb
300 Unit Rys Inv't of San Fr 28 J'iy 11 3714 Feb 14
28
2812
28
*28
28
28
31
*2$
*28
31
528
31
62
14
7611 Meh
6512
Feb
Sep
J'ly
18
57
preferred
Do
100
58
*5678
58
*57
58
*55
58
5712 *55
5712 5712 *55
Dec
1838 Feb
Mayll
19
934
J'ne
4
53
334
70
500 W aba 0h
9
4
4
3418 418
4
418
4
e4
4
4
4
4
4038 Feb
1414 Dec
1238 J'ne 27 2278 Apr u
Do preferred
1358 135$ 1338 1334 1338 1338 1312 1312 1312 1312 *1312 1412
Mch25
J'ly
Ant*
66
48
7
8
Jan
9
6414
5514
Maryland
Ry
Western
750
59
58111 5818 59
*5712 59
58
58
58
558
35713 59
614 Feb
212 Sep
914 Men 13
4 Jan 10
200 Wheeling & Lake Erie_
7
*8
7
7
8
*0
712 *6
7
*6
*612 7
7 Set)
1758 Feb
11 Jan 3 2578 Apr 18
Do
1st
preferred
20
*18
*18
1912
*18
20
20
1812
*1712
*1712
*18
20
3 Aug
8 Feb
6 Jan 19 14 Mch 13
• Do 2d preferred
*812 1012 *812 1012 *812 1012 *812 1012 *812 10
*812 10
48 Sep
7218 May ,
48 Feb 5 5712 Apr 5
Wisconsin Central
53
*48
55
*48
*48
55
55
*52
55
*52
55
*52
IndustrialEchliscellaneous
Mch 12 321712 Apr lb 5198 Nov 1245 Apr
8 Adams Express
200 200 *200 205 *200 205§191
*200 210 *200 210 *200 210
7158 J'ne
4434 Sep
60 Feb 1 88 J'ne l,
maigamated Copper
8334 8234 8312 825/3 8373 x8234 8312 67,060
8314 8418 8338 8412 83
6312 Dec
4434 SeP
Amer
6812
Feb 27 6358 Mch22
700
p
Chem_
Agricultural
58
6058
60
61
61
82
*6034
62
*61
61
61
61
61
Meh20
9912 Oct 105 Dec
J'ly
17
10414
98
101
*9934
*9934 101
*9934 101
*9934 101
*9934 10012 *9978 101
5934 Oct
3914 Jan
4,100 American Beet Sugar---_
53 Feb 26 76 Mayll
7414 7318 7312 7333 7378 7358 7378 z7234 73
7313 7312 74
9212 Jan 101 Oct
97 Apr 3 10114 J'ne 1.5
Do pref
*9812 99
*9812 99
*9812 09
*9812 99
*9812 99
*9813 99
1212 May
873 Jan
1114 Feb 1 43 Mayll
Can
363A 3514 3612 3512 3614 3634 3614 14,350 American
3638 3634 3612 371A 30
9318
Dec
77 Jan
Do pref
9038 Feb 1 12112 Mayll
11718 11738 *11614 11712 11012 11714 1,100
11634 11631 117 11758 *11812 118
Sep
J'ly
4238
9
5814
Apr
49
Feb
5
6138
American
Car
&
Foundry
2,200
5914
59
5758 5758 5758 5734
587, 5812 5834 5734 58
*53
115 Feb 14 120 May24 113 Oct 120 May
Do pref
125
117 117 *11612 11812 *11612 11812 *11734 12014
*117 118 3118 118
3134 J'ne 14 31 J'iy 2
350 American Cities
3314
3314 *33
3314 *33
*33
33
3312 33
*33
3314 *33
7812 J'ne 25 8313 J'ne 50
Do preferred
250
*7734 7838 *7734 7812
78
7812 7812 *7734 7858 7812 7817 378
4517 Jan 19 5714 May 3
4158 Nov
6238 Feb
1.300 American Cotton Oil
53
*5212 5312 *5212 5314 53
53
5313 53
5278 5278 53
95 Jan 19 9914 Feb 13
92 Nov 10512 Feb
pref
Do
*9438
102
10212
*9438
102
*9438
10212
8
*943
*9418 10212 *9438 10212
Feb
19
6)2
Mayi6
312 Sep
5- J'ne
3
Leather
2,300
American
Elide
&
538 *518 512
512
5
518
5
5
5
*434 514
5
2633 J'ne
18 Sep
20 Feb 28 271? May16
200
Do pref
20
*25
26
*241 26
2573 2578 *25
4,2414 26
25. 25
1:12 Aug
2534 XIV
2 3034 May20
Jan
18
Securities_
8,500
American
Ice
273
8
26
5
8
'253
2612
2612
2712
---- ------26
*2512 2612 26
3 Aug
1238 Feb
9 Mch 6 1778 Apr 23
670 American Linseed
14
l3
1314 1314 *13
f8 14
1334
1334 1334 1334 1378
3412 Dec
2618 Oct
30 Feb 20 43 Apr 23
705
Do prof
*3412 3612
36
3512 3512 *3412 38
3512 36
35
3312 36
4314 May
22,8 Oct
9
Aur
4434
Feb
27
3134
Locomotive
1,55
American
4314
4318
43
• 4318 433s 4314 4338 *4212 4312 44212 4212 43
103 Jan 15 110 Apr 8 102 Oct 11034 afek
200
Do pref
109 109 *108 109
10812 109
*108 10834 10834 10834 *108 109
3 Sep
638 Jan
434Jan 10 19 J'nee.50
20!1 American Malt Corp
*1412 18
1612 1612 *1512 17
*1612 18
*1612 18
*1612 18
3112 Mch
4358 J'ly
42 Jan 6 6258 J'ne27
Do
pref.
900
6014
60
6012 6014 6014 6018
*6014 61
5052 6012 *6014 61
I
tr3,8,
Lakepop
t
BANKS AND TRUST COVIPANIES-BROKERS' QUOTATIONS.
Ele
Banks
New York
200
Aetna
America 11.., 620
Amer Exch. 238
125
Battery Pk
Boweryll.... 400
Bronx Bore' 300
Bronx Nat. 175
Bryant Pk I 150
Butch & Dr 130
Denttlry 1._ 5230
555
Clhase
BUt Ask
13anks
Chat&Phenix 180
185
207 Chelsea Exi 5150
630 Chemical __ 44212 44712
242 Citizens' Ctl 180
185
415 425
130 City
___ Coal & Iron 155
160
_ Colonial 1.-- 425
-3-51)
1-8-0- Columbia 1- 3:35
155 Commerce.1197 11971:
140 Corn Ex ¶...322 325
__
--- East River_ 95
____. Fidelity 1
185
1-75
Ask
Ask
Banks
1311
Banks
-- HarrillialFifth A9011- 1300
et th
300 3-2..5 imp & 'frad
elrst
1000 1015 Irving
Linerty__
203
20,1
Fourth
Garfield
275
200 Li ncol n ---.
_
Germ-Am 1 '140lanhattan1
lark't&Ful
4-4-0
aerm'll Et11 425
dech &Met's
540
Germania 1_ 525
,ierob 15=1
165
Gotham- , 155
,Ireenwlee-¶ 250. -lerehants'.
7-1-l;
690
Hanover
Bia
280
565
209
595
375
340
250
260
160
183
/.11.1
Banks
_ Vetropolis II 375
sle
ol '11.r
. 2
150
90
t tro
sioprrissi
5:5. I
Ask
81-0385
34711
25711
264
165
.......
dutual 1___
Nassau __.
New Neth.4
\Jew YorkCo
Sew York_
Pacitlet.___
Park
People's 1_
285
200
220
875
340
255
367
240
Ask
But
Banks
385 '
,rod Exch '5 16712
2
16
93
0 .,teeasb
eo
rv
ae
r.
d :.
'42
93
512
295
,econd ...„ 375
205
iecurhy-9 __ 135
___ •nerman.._ 135
__ 'tate 1 ____ 250
23d 3 ard1 175
310
265 (in on Exc. 162
Wash H'te I 275
374
250 %Vest Side 1 575
s orkvilte 1_ 600
Ask
17213
air
145
_ ...
271
168
.
„,..
625
.....
and rights. S New atoog.
• Bid and asked prices no sales were made on this day. tEx-right8. ;Less than 100 shares 11State banks. a Ex-dividend
sale at this price. x Ex-dlvldend. I Full paid.
3 Sale at Stook Exchange or at auction this week. is First installment Paid. n Sold at private
222
[VoL. Lxxxxv.
New York Stock Record-Concluded-Page 2
For record of sales during the week of stocks usually inactive see second page preceding.
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Saturday
July 20
Monday
July 22
Tuesday
July 23
Wednesday
July 24
Thursday
July 25.
Fridry
July 26.
Sales to
the
Week
Shares.
STOCKS
NEW YORK STOCK
EXCHANGE
Range since January 1
On basis ol 100-share tots
Lowest
II Wheat
Range For Previous
Year 1911.
Lowest
Highest.
industrial and Misc (Con)
8712 8712 *87
88
Mch
8734 98
:62
63128 J,7
82 Sep
8912 J'ne 10
*8712 88
*8734 88
8918 J'ly
300 Amer Smelters Sec pret 11 :18
8334 8334 8314 8418 8234 W - 8212 83
6778 Feb 1 8938 1feb28
8218 8312 8312 84
5658 Sep
8373 J'ne
7,700 Amer Smelting de Henning
10758 10758 10734 10734 010712 108
108 108 *10714 108 *10712 108
Do pref.
22n6'2 10812 Apr 28
9834 Sep 10812 J'ne
300
*165 16912 170 171
169 170
171 172 8170 172 0169 172
123 Mch 6 176 J'ly 1 225 Sep 325 May
2,000 American Snuff _
*100 105 .100 105 *100 105 *100 105 *100 105 1.100 105
Do pref. new
99 Feb 9 10312 J'ly
*3412* 36
*35
36
*35
36
35
29 Sep
3412 341:, *3412 36
35
26 Jan 19 3917 Mayll
5212 Feb
200 Amer Steel Found (new)
12814 12812 12878 12878 *12818 12817 126 12817 12712 12717 12712 128
11214 Sep 1::212 Feb
1,600 American Stizar Relining 11434 Jan 12 1:331,May)
122 122 *12112 122 *12112 12217 812112 122 8121 12212 12178 12217
Do pret
12315 J'ne 3 111 Jan 11912 Feb
100
14512 14558 14514 14512 14538 14517 14558 145'. 14512 14578 14558 14575 3,423
American Teleph & Teleg 13738 Jan 2 14918 Mri)10 13112 Aug 1534 J'ne
*293 298
29812 30312 30114 303
30212 30217 301 303 *301 303
24118 Feb 2. 32412 J'ly 1
4,075 American Tobacco
*109 112
10514 10512 8105 10514 10514 10514 105 105 *10,14 10512 1,400
l'referred. new
150
0114 F
en
0 171 10638 Jan to
Je
*26
2617 *26
2612 *26
2612 *26
*28
29
29
American Wodien
*26
2514 Feb 6 31 May17
2512 Dec
3612 Mch
29
9014 *89
*89
9014 8912 8912 *89
0014 *8814 8934 89
Do pref
8614 %/et
9412 Nlen
9614 J'ne
89
200
*3412 3514 35
35
! 536
363
36
3514 3514 *35
2518 Jan 25 4138 May
*3514 36
3412 Feb
2412 Sep
310 Amer Writing Paper, or(
4117 4117 4112 4177 4114 415, 41
4138 41
4112 4112 4134 5,35C aAnacondaCopper Par$26 10
1 $1518 J'ne 21 329 Sep 84118 .J'ne
V4
3512 Feb 7
*126 12614 *124 12634 8124 12634 *124 12834 *124 12
,
'
, *124 12 "4
Assets Realization
126 J'ly 10 10612
'Dec 108 Dec
*58
59
5834 *58
59
*58
5914 55114 5812 5812 5812 5812
in Locomotive._ _ 5358 J'ne 18 6012 J'ne 2,
300
*10578 106
10578 1057k 10534 10577 10578 10578 10573 10578 1,300
10578 /06
10234 Feb 2 10818 J'ne 17 10384 Dee 107 Dec
Do pret
35$8 *3412 36
3512 36
35
3558 35
35
3578 3578 3578 2,100 Bethlehem Steel
13229713:422 Feb
cii 2
.6 Sep
18
7
1 92 Apr
3818 Aug
*66
68
6812 *67
*66
6814 68
68
*66
68
5612 Feb 27 7434 May 1,
1)o pret
64 Sen
*68
6634 J'ly
68
700
414614 14614 148 14638 *145 148 *145 146
14512 14512 14512 146
14612 J'iy
/129 Sep 14814 Nov
825 Brooklyn Union Gas
*3278 37
*3234 37
*3278 37
*3278 37
14,1Meh
*3278 37
4018 Apr 30
B Lterlek Co
28 Feb
31 Zilch
*3278 37
2758 27
2718 27
2714 2714 2714 2712 27
5,2
1(
6
5)17 JF
Fae
enb 2
1834 Stp
17
5 2818 Apr 22
27
3338 Feb
27
27
4,400 lentral Leather
96
9412 9412 95
96
96
96
96
9118 Dec 105 Feb
*95
96 J'ly 22
9612 *95
Do pref
9612 1,200 •
3214 3214 32
3212 3134 3177 3138 315, 3118 3177 3158 3134 2,72C dChino Copper__ __Par $5
$3314 J'no 2, 51017 Sep $2712 Dec
3012
31
3112
*2314
3034
3112 3112
*31
2318 Feb 28 3414 Apr 10
'26 Sep
*30
3012 3012 31
3638 Feb
800 Colorado Fuel & Iron
14414 14517 14414 144'37 14334 14534 144 1443, 15,300 Consolidated Gas (N Y _ 13814 Feb 17 14638 J'ly 1
14538 14534 14558 146
12834 Sep 14812 J•ne
*15
1512 1538 1538 1434 15
10 Jan 16 1712 Apr 24
958 Oct
1512 *15
1534 May
1458 1478 1412 1434 2,707 Corn Products Relining_ _
8218
83
8218
83
*82
83
8314 82
*82
27614 Jan 3 87 Apr 24
Do pref
73 Sep
85 3,13y •
82
8178 82
700
*3158 3214 3134 3134 3218 3218 3112 3117 315, 3158 32
29 See
3814 Mch
3257 1,400 Distillers' Securities Corp 28 Feb 5 3438 Apr 8
*1312 21
*14
*1312 21
21
*14
21
Federal Mining & Smeit'g 1114 Feb 28 21.
36 Feb
*1438 2078 414
13 Dec
21
88 J'ly 3
*45
49
4612 4612 *46
*46
49
48
Do pret
3718 Jan 23 50 J'iy
37 Dec
46
46
*44
0612 May
4834
200
18014 1804 180 18117 17912 182
18112 186
155 Jan 2 13812 J'ly 25 142 Sep 16838 May
18312 18812 18134 18'3! 58,570 General Electric
33
33
*32
34
*32
34
*32
34
30
701,1 F
34
6 3814 Apr 9
mehby23
35 Nov
34
5134 Aug
3312 34
900 Gen aotors vot t ctts.._
7612 7617 76
7614 *76
77
*75
77
Do prat vot tr etfs _ _ _
7612 77
7412 Dec
8658 Aug
82 Apr
7634 7634 1,100
4
4
418
4
4
4
4
4
9312 Oct
4
4
378 4
7,375 (Mold field Con M Par $10 $1378 J'ly 26 $5 Mch 18
8778 Jan
56
5618 5514 56
5512 55
5512 5534 *55
5512 5434 65
1,40f diluggenh Exp,o_P7r $25 $33 J'ly 11 46238 J'ne 14
*19
1932 1914 1938 19
19
19
19
19
19
19
19
1.450 eli nsp'n Con Cop Par $20 $1814 J'ne 3 $2018 J'ne 7
12112 12134 *120 12077 12012 12012 12012 12114 12012 12012 2,900
120 121
1Pa
15
enb 26
6:
4
2J
1 12412 Mov20
nt Harvester stk tr efts 10
9015 Sep 12938 May
120 120
120 120
120 120 *11712 121
*11934
Do pret stk tr etts
12134 Apr 4 115 Sep 12814 May
120 120
400
*4
412 *4
412 *4
4 Meh 7
412 *4
412 5412 412 *4
412
718 M ch 20
314 Sep
10 Int Mer Marine stk tr et's
578 Jan
1814 *16' 18
*16
*16
18
1814 16
1678 *16
Do prof
*16
16 J'ly 26 26 Mch 29
16
14 Ana
200
2212 Dec '
*15
• *1534 16
*15
16
*15
16
16
038 Jan 17 1334 May23
1434 15
1434 15
800 International Paper
9 Sep
1338 Jan
59
*57
59
5814 5558 5634 5412 56
• 5812 5834 *58
57
Do pret
24578 Jan 3 6278 May2.,
4458 May
3,600
5633 Jan
*2512 2712 *2512 2712 *2512 28
*2512 29
• *2512 27
Internet Steam Pump
2412 J'ne 3 34 Jan 2
*26
28
23 Oct
44 Feb
, *77
7912 80
*7912 81
81
81
*80
Do pref
80
8012
79 Feb 1 8458 Apr
580
80 Oct
*78
240
9012 J'no
10612
*106 1061: 0106 10612 *106 10612 106 106 110612 10612
' 10612
104 Mehl() 10834 Jan 4 10114 Sep 11912 Jan •
450 Laclede Gas (St L) corn
20412 207
202 204
200 200
203 20517 20314 20417 20312 204
3,700 Liggett de Myers Tobacco 15678 Jan 15 20834 J'ly 1
' 11312 11311 011234 113 2113 114
11314 11314 11312 11312 114 114
no nreferred
1
10
6253
0,142 JAFaepnbr 2
12
10 114 J'ly 26
710
43
44
4358 4414 44
4478 4478 4658 4638 4718 21,600 Loose-Wiles Bis tr co otfs 43 J'ly 22 4718 J'ly 26
103 103
10314 10312 10312 10358
Do 1st pref
1703518
y3221 104 J'ly
104 104
2,050
.„.,
34 104
,
3
9014 9012 9034 9053 9058 12
90
Do 2d pref
.0,8 9134 92
9212 2,485
90 J'ly 22 9212 J'ly 26
92- *89
93
!
*89
92
*89
92
89
J'lJan
89
*87
9214 J'iy 17
7412 Dec
95 Feb
93
100 Mackay Companies
! *6914 6934 . 6914 6914 *6914 6934 6938 6938 *69
Do pref
130: *6914 6934
68 Dec
77 Meh
300
68)2 Jan 11 7073 Jan '23
7812 *77
' *76
80
*76
7812 *76
7812 7812 7812 *76
70 Apr
87 J'ne
79
8214 May23
100 May Department Stores_
*10312 110 810312 108 *10312 107 *10312 108 .10312 108 810312 108
Do pref
10534 J'ne 24 112 Jan 11 10734 Sep 11314 J'ne
6978 697f
6934 6975 6914 6912 6314 6912 6914 6912 6913 6934 2,745 Mexican Petroleum
6234 Apr 20 7338 May15
29
2914
2918 2912 2314 2912 2938 2934 2914 2934 2912 2934 15,160 d llam) Copper__ Par $5 $2318 Fob 14 $2034 J'ly 24 *1658 Sep 12912 Dee
144 1451: 144 14634 13978 142
135 13978 13312 135
12.812 J'ly 28 161 Apr 30 11714 Jan 14334 Nov
12912 134
12,665 Mational Biscuit
*127 13011 8126 13017 130 130
127 127
12718 12718 *128 127
Do prof
315 1I
131 J'ne 19 124 Jan 130 Feb
*1512 17
16
*16
16
17
16
16
*16
*16
17
17
22 J'ly
400 Nat Enamel'g & Stamp'g 1214 Feb 29 1914 May15
1212 Dec
*90
93
*90
93
*90
93
*89
93
*90
Do pref
93
*90
93
88
511a 3
Fa
ebb 29
7 9512 Jan k
85 Jan
10034 J'ly
5914 5914 5834 5918 5734 5812 5838 5835 5812 59
59
59
9212 Sep
0058 May22
1,700 National Lead
59 Feb
*10812 11017 *108 11018 *108 110 4110 110 *108 11018 *108 11018
Do pret_
1
Fe
10
1 10934 Feb 15 104 Sep 10934 Aug
151
eb
814
b 20
2J
40
2034 203. *2058 2078 2034 2034 2038 2078 2C34 21
21
2158 2,700 dNev Cons Copper_Par $6
$2314 May 1 *1518 Sep $2114 J'ne
7612 7612 76
76
76
76
76
7534 76
*72
76
78
45 Oct
2,565 New York Air Brake__ _ 60 Feb 17 78 J'ly 26
76 Feb
82
815s 8238 *8138 8212 Si
8178 8178 82
8118 8178 83
1,700 North American Co (new) 7412 Jun 3 8478 Apr 27
64 Jan
7,834 May
3114 3114 *3114 3212 *3114 3234 13112 3112
32
32
*31
*31
30 Jan 3 35 NIch 27
110 Daelflo Mall
2318 Apr
3338 Nov
4812 4812 *49
44812 4812 *4812 50
*4838 50
aciflo
50
*49
Telep do Teleg-160
50
6538 Apr 25
35 Sep
5958 Jan
• 11618 11617 11612 11612 11512 11534 11512 116
11512 11638 *116 11614 2,400 People's G L & C (Chic) 10
43
7 J
Faenb 8
5 11814 May25 10112 Aug 109 Jan
10334 10334 *10312 105 *10312 105
10334 10414 108 105 *103 105
600 Philadelphia Co (Pittab)- 102 J'no 3 11114 Feb 16
99 Sep 11812 J'ne
2012 2058 2012 2034 2,14 2034
211: *21
21
2153 21
*21
700 Pittsburgh Coal Co
1634 Mch 1 2334 Apr 23
17 Dec
234 J'ne
92
9134 9278 *91
*90
93
9212 9238 9212 1,200
92
Do pret
*91
*91
77 Feb 8 9512,1'1y 5 • 6734 Jan
9078 J'iy
192 192
191 191 *190 193
*190 19:'--r 191 193
191 192
167 Mch 11 20012 J'ne
760 P. Lorillard Co
*11212 11314 *11212 11314 *11212 11314 113 113
Do preferred
11338 11312 11334 11334
10734 Jan 12 115 Jan 19
600
36
3514 3514 *35
36
*35
3434 3434 3514 3534 3558 3558
800 Pressed Steel Car
2834 Feb 27 3738 Apr 11
25 Sep
3758 J'ne
*10112 102 810112 102 *10112 102 *101 102 *10112 102
iro nre,
10112 10112
06 Feb 28 10312 Apr 24
100
91 Sep 10234 J'ne
111
111
112
112
*109 11234 .109 11234 *109 11234
*109 111
273147 F
Fe b 17
8 112 J'ly 23 108 Oct 120 Feb
200 Pub Service Corp of N J. 106
162 162 .16112 16212 *16178 16214 *16173 16214
*16134 16238 4162 162
15812 Feb 2 163 Apr 29 154 Sep 163 Jan
150 Pullman Company
3512 3458 3438 *3412 3512 35
*34
3614 35
allway Steel Spring
3512 38
3714 Apr 27
36
26 Oct
900
30 J'ne
10218 10218 *101 103 *102 103 .101 103
*10012 103 .10012 103
100 Meh 12 103 Feb 21
Do pref
100
92 Jan 103 J'ne
2078 2118 203.1 21
2058 2078 2012 2034 2058 2034 8,3
2078 21
260 32212 J'ne 21 *12 Sep $19 Deo
Fe 21)
5
634 Jan
153416
80 dRay ConsCopper Par $10 $1
70
*2634 2734 2634 2634 *2512 2634 2512 2538 52512 2512 *26
Republlo Iron & Steel...
2734 J'ly 18
18 Out
2712
3514 Feb
8412 84'7 *8414 85
84
85
; *84
8414 8434 8478 8438 8-03 1,000
U93 Feb
6412 Feb 27 8614 J'ly 2
Do pref
7418 Oct
102 102 *102 10214 102 10212 *102 104
102 102
102 103
100 J'ne 20 103 J'ly 20 ...
pref
2,860 Rumely
19118 196
195 19734 19553 19612 19514 196
191 19114 19138 192
10
5 19734 J'ly 24 12512 Sep 192 Feb
J an 3
40
914 J
10,900 -ears. Roebuck & Co.-- 13
56
58
*55
55
58 J'ly 2
65
55
5534 5534 5512 5578 *55
55
34 See.
700 Sloss-Sheffield Steel & 1r_
5614 Feb
3214 3714 3214 3238 3214 3214 3158 32
3158 3214 x30
9 3312 J'ne 2i
30
J an 18
1614 j
83
1,450 Standard Milling.
15 Aug
1718 J'ne
*6312 65
46434 6-'3! 16434 6434 *6312 6434 *6312 65
6414 J'ne21
Do pref
6418 6418
210
50 J'ly
53
Dec
*3112 33
3234 3244 33
33
33
3312 *3212 34
Studebaker Corp (The)
30 J'ly 10 3634 J'ne
3334 3334
*94
*94
95
95
9434 9434 *94
28
J'ne
95
95
9012
*94
Do
pref
95
J'ly
9434 95
26
1.3
8
90
50
9
4358 4358 4314 4378 4312 4312 4314 4314 4318 4318 4278 4314
dTennessee Copp_ Par 625 $3412 Feb 1 $4714 May21 $3014 Sep $44 J!ne
12734 12914 12312 12712 12412 12512 125 127
12938 12934 128 130
81 Jan 16 130 J'ly 1.1.
21,825 Texas Company (The)
7912 Nov 13612 Feb
10978 110 *109 114 *11014 114 *11012 112 *11012 114 *111 113
200 I Enderwoo I Typewriter_
63 Mch 111 J'ne
11534 J'ne 2a
*112 114 *112 115 .112 115 .112 114
114 114
11414 11414
11114 J'ly 26 103. Meh 11378 J'ly
200 ; Do pret
*1212 1312 *12
1314 1212 1212 .12
13
1778 May15
1178 1212 1212 13
1,200 Union Bag & Paper
934 Dec
9 Feb
*5712 62
62
*57
*57
62
*57
60
May15
6734
Do pref
58
68
62
*58
100
5018 Nov
6912 Jan
58
58
*57
*56
*57
58
x57
6434 May21
57
*53
5712 *53
5712
100 United C gar Mfrs
105 105 *103 105 *103 108 .103 108 *104 108 *103 108
Ybre 221110 109 Feb 15 10014 Sep 410612 Oct
jJAFtt
'.epinn
4:48
8 Janj
Do
5
8
93403
pret
19795:
0
495313
100
10218 10218 .101 10234 10178 10178 102 102 x100 100
10234 J'ly 17
9978 9978
United Dry Goods
9712 Sep 108 J'ne
*107 10812.107 10812 107 10812 *10718 10812 10834 10834 10834 10834
1(4
Fe
FebFe b 2
) 10334 J'ly 25 10034 Sep 10712 ny
Do pref
6
20
*1814 20
*1814 20
*1814 20
193s 1958 *1814 1912 *1814 20
11 Sep
100 U S Cast I Pipe & Foundr 13 Feb 16 2212 May16
19 Feb
*5712 59
5878 5878 *5712 56
*5712 5812 *5712 5812 *5712 5812
4012 Sep z61 Feb
61 J'ne 11
Do pref
50 Jan
100
4414 *4334 -_
4378 4378 4378 4378 44
*42
45
48
4578
24 Aug
26 Jan 8 4578 J'iy 26
700
S Industrial Alcohol
30 May
*84
84
85
85
85
484
8212 8353 8212 8212 8238 8258 2,210 U S Realty & Improv't_
6518 Jan
67 Jan 31 8612 J'ly
7934 May
5214 5238 5212 5212 553
5314 5212 63
53
5314 53
3012 Sep
53
9514 Feb 1 6778 May21
2.220 United States Rubber
4812 Deo
10634 10718 10612 10718 106 10638 10534 106
10558 10578 10578 106
Do 1st pref
3,500
10358 Ply 23 116 May21) 104 Sep 11512 J'ly
*7512 7812 *76
81
81
*75
*75 .81
*75
81
*75
81
May21
66
8512
Do 2d pret
23
Jan
Sep
75
79 Mch
70
7018 7038 7038 7118 6912 7038 6938
69 - 7012 7018 7078 201,400 United States Steel
50 Oct
5814 Feb 13 7314 Apr 30
8218 Feb
11218 11238 11218 11214 112 11238 11218 11214 *112 11214 1,850
*11134 112
Do pret
10738 Feb 13 1133, Apr 8 103 Oct 12078 Feb
6218 62
62
6114 6134 61
6112 6112 82
6214 6158 62
Copper..
$38
8
Apr
dUtah
Sep $5778 Dec
5.800
_Par $10 95212 Jan 29 $6512
4912 4912 4914 4912 4914 4914 4812 49
*4958 50
14912 4912 1,120 VIrginla-Carolina Chem_
4318 Sep
4714 ,Ply 12 5714 Jan 26
7038 Feb
11618 11618 11638 11638 11638 11638 *11538 117 *115 117 .116 117
Do pret
400
11618 J'ly 20 122 Mch 27 114 Sep 12312 Meh
*136 139 113614 13614 *135 13812 136 413612 *135 140 .135 140
150 Wells Fargo et Co
136 J'ly 17 151 Jan 3 139 Sep 177 May
8234 8234 *8134 83
*82
83
8238 8234 *8238 83
8238 8212
7133 Apr
600 VT estern J..nlon Teleg- 79 Jan 2 8614 Jan 18
8412 May
8214 7978 8,,3i 51,340 WestIngh'seEl&Mtg assen
7812 7778 81
80
7634 7634 7678 7712 77
5858 Sep
6614 Jan 3 8178 Mch 27
79 May
*120 12134 *120 12134 1201i 121 .120 12134 12012 12134 *12018 126
400
Do 1st pref
11478 Jan 5 122 Mch 2;1 11012 Aug 323 Jan
*94
*94
95
95
94
94
9212 94
05
95
9278 93
9212 J'ly 25 9914 J'ne 27
1,580 Woolworth
W)
114 115 *114 11431 .1131. 114I .1131. 1151., 1131', 114 *113 1141,
500
pref
Do
11(' J'ly 25 11611 J'ly 2
RR
BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS.
Banks
Braok Yn
Coney Isi.n1
First
Oreennornt
lila
Ask
153
• 876- 295
161
125
115
Homestean1
Manutae'rs 405 425 ,
Mechanics'1 230
210
Montauk 11
150
Nassau
117- 225
:at City
275
295
Bid
frust Co'I
Ask
N Y CBI/
Central 1'r__ 1030
Col u rublaKnIckerb 580 590
85
95
Empire
frust Co _
300 310
Eu ult'bie Tr 5421: 5471;
N Y Crly
Farm Lo& I
1400
Fidelity ___ 218 222
410 420
Astor
ru.ton
dankers' or 580 581
315 325
1774 1321: luar'ty Tr. 1015 1025
d'way Tr
Banks
11r-ktun
Neat' Side I
Boa
Ask
175
145
Prosp'ctPk' 133
200
155
155
Trust Co's
Guardian Tr
it tins°n _ _
Law T I&Tr
Lincoln 'Fr
Bta
00
137
225
140
460
Mutual Alli
awe
145
Aut.( Westchester)._ 140
Ask
133
142
230
4-16152
150
tens. Co',
Y Life &T,
N
M.andarel I'm
11 LI eilu & Tr
Onion Sr
Nit& Tr
Unit States
aslimeton
Westchester
Windsor _
Illa
1030
033
t;:10
70
595
Ask
1045
640
380
605
1 rust Co's
firolklyn
Brooklyn Tr
s;Itizens' ___
r!'iraum
n ilctitient;
Bid
Ask
470
150
55
2
216
075
2
1_7;6
i..
:
470
1120
390
150
188
483
1130
910
1130
192
Some
I( ings Co ....
L Isl L & Tr
Nassau
Peoples'
Jueens Co_
520
300
150
295
95
3-11160
305
106
• Bld and asked prices no sales on thls day. 0 Less than 100 shares. t Ex-rights. a Ex-div and rights.
b New stook. d Quoted dollars per share.
t Sale at Stock EX0hange or at auction this week. s Ex stook dividend.
Banks marked with a paragraph (ID are State banks. x Ex-dividend.
.
,
_
New York Stock Exchange-Bond Record, Friday, Weekly and Yearly
prices are now all-"and interest"-except for incon2e and defaulted bonds.
Jan. 1 1909 the Exchange method of quoting bonds was changed, and
Range
•
'cle
BONDSt
Price
9
6",
Range
'
IV'
.;.3
IV eek's
Since
t -,
or .-c
Range
Friday
N. Y. STOCK EXCHANGE '-).: K
Since
, ''''
Range or
Jan. 1
Las: Sat,
:d.
.
Jay
..
26.2.':"1
July
Week
Ending
1.
Jan.
Si
La; Sale
------ -!lige, No. Low High
Ask Low
iiid
Bid
High No. Low Mon Chesapeake & OhloAsk Lou,
10412
U. S. Government.
Gen fundtng, & inipt 5s_ _1921) J -J 10.21210 I-- 10212 J'ne'l:. ___1'. 102
10034 10074.
10914 11134
i 10
US 2s consol registered_ _di9130 Q-J 10012 101 10014 May'12 _
1'i9,8
Sale
110
.11-N
_1939
.
___
5s
1st consol gold
1013
U S 2s consol coupon_ _ A1930 Q-J 10012 1011,, to ,34 May 12 .___ 10034 10234
193..11-N 1014 ____ 111 May'12 ____ 110 11114
Registered
102
'12
J'ly
102'.
102
lo..3.,
Q-1:
km);
9973 11)3
2
U S 3s registered
103
1992 II-S Loki Sale •J's
Genera( gold 4 Pis
10112 1031,4
, 102 1023, 192 J'ly 1
k1918 Q-1
U S 3s coupon
9934:Nov'11 ___ ____ -- 19112 11-S 9312
Registered
11314 1143t
1925 Q-I, 11434 114 111 J'ne 12 9238 9415
.14
U S 4s registered
1930 F • A :5;58 Sale 9312
;is
4
Convertible
11434
11314
'1
J'ne
11414
1111.
11134
Q-F
1925
U S 49 coupon
N514 Ply '1: ____ 8614 89
11144 J -l) 8614 e8
Big Sandy 1st 4s
__ _
__
____
11
J'ne
U S Pan Canal 10-30-yr 23 k1939 Q-N 10012 101 10012 J'ne 11
8812
892,
8618
.1-1.)
_1945
_
Coal lily Ry 1st gu 4s_
101.,4„ -20 10138 10:il:
4
U S Panama Canal 3s g_1901 Q-S 10138 101:, 131.13
194u J - J 10; 1041_ 10134 May -12 __ 10134 1013Craig Valley 1st g 5s_
8634
84 __ _ 84 May'12 ____ 84
_1946 J -J
Potts Creek Br 1st 4s_
.
96
9312
___.
May'12
i.5
Foreign Government
J
J
&
A
1989
It
Div 1St con g 4s
2 97 100
100
Argentine-Internal 5s of 1909 6f-S 1 9938 ____ 100
1989 J -J ---- ----3214 J'ne'll ____ ____ ___
3d conso! gold 4s
5 9314 951:
04
J •D 2 94 0114 91
-„.Chinese (Dukuang) Ity 53 .5
8 __ 05 Oct '1u
Greenbrier icy 1st gu g 4s 1949 il-N 9134 72)2
‘.. 7037114
Imperial Japanese Government
1114 7114
1949 A-0 iu
Chic & Alt RR ref g 33
45 9113 94
92
1925 F-A 2 91 92 9112
Sterling loan 4 Pis
6-4, & 6014 6513
J -J
65 Sale 65
_195o
_
tis__
1st
3
Itattway
Ben
93
8
5
90.
Pi
6
99100
1025 J -J 2 91 Sale 0058
2d Scries 4 Pis
2 8113 8818 Chic B & Q Denver Div 4s_1922 F- A 91)34100 9958 J'ne'12 ___. 87 83
8418
8418
1931 J J j 83
Sterling loan 43
1
8.18714 6,1: 8714
1949 J J
Illinois Div 3 1is
le 10212 101
Republic of Cuba 5s eaten debt_ 6f-S 210312 Sale 1033 11)4
86 87 8512 Apr '12 ___ 8513 8513
-J
J
1949
991,
Registeied
99
'12
J'ne
9914
1949 13-A 2 9914 luo
•1:0. 3 9813 10018
External loan 4 kis _
9912 100 9938
1949 J - J
Illinois Div 4s
9718 98.4
San Paulo (Brazil, trust 5s_1919 J -J 2 9812_. 9834 J'ly •12 _ _ 94
9713 1'0 9853 J'ne'12 ____ 985,3 9912
1949 J J
Registered
95
10478 105
Tokyo Jity loan of 11)12, .5s__ NI- S ____ 9414 94 J'ly '12 _
J'ly '12
105
---103
A-0
1919
Iowa
Div
sink
5s
fund
9714
9512
.._ 9914 9958
- 9-J 2 97 08 97 J'ly '1- _
1899
U Sot Mexico s t g 5s of
Sinking fund 4s1919 A-0 9914 100 0914 J'ly '1
88 91
1954 J -1) .!-- 92 91 May-12 :__
Gold 4s of 1904
09
9734 9958
'12
J'ly
---Nebraska Extension 4s. 1927 11- N 98 99
I 7'lies.: are p rices on he be sfs o I $5 to C.
•
.1927 11-N 9613 ____ 0813 Niehl I ____ ____ ---Registered
-'11
9918
Dec
8
____
993
State and City Securities
61-S
__192I
n
4s_
Div
Southwester
10138 142 10078 103
1960 M-S 10118 Sale 101
N Y City-4 lis
Joint bonds See Great North
10034 191 10018 10118
: 1001.10158
-1962 ,,. _, .10058 too); 10058
11-N 1001,101 10012 1001;
4s when issued
1913
10013
5s
Debenture
9834
94
99
3 9714
957; 31 955: 4% Corporate Stock _ _ _ _1059 11--N 99 Sale 9873
1958 11-S 9578 Sale 9558
General 45
09
1 0878 10018
I 7812 8112
7834
• 4./: Corporate Stock____1058 3.1-N 9878 9314 99
7 99 10u1.4 Chic & E III ref & Imp 4 gs_1955 J -3 7812 Sale 7812
99
1057 .11-N 99 Sale 99
: 122 125
12214
12214
124
12153
-• 4% Corporate stock
A-0
1034
1st
107,3
consol
68
gold
10614
3
10638
3
1957 M. N 10638 1001 10014 Mch•12 __
1 10714 11118
,- New 4 pis
General consol 1st 5s__ _ _1937 51-N 10112 Sale 1071? 103
102 10234
1917 II-N 10133__ 102
1937 11-N
__ 10914 Feb '12 _... 10914 10914
New 4 pis
..
Registered
10334 ii 10191 1077s
3 1061: 10014
'12 _. 10812 10912
J'ne
-J
10812
_
....
J
_
i(1512
.• 4 Pi% Corporate Stock_..1957 M-N 1063
&
53_1936
Chic
C
Ind
10278
Ry
1st
10113
10
102
102
83
4 Pi7 assessment bonds_1917 11-N 10138 10218
Chic Gt Western 1st 4s_ __ _1959 21- 5 7613 771: 71 fly '12 ... 77
'12 -._. 86 88
86 J'13,
-N -_ 1251.12912
Corporate Stock-1954 1%-N
3_ 1i
10112 10 101 10278 Chic Ind & Loulsv-Itef 6s_1947 J -J 125 1281: 12534 J'ly '1:
1101.2 11034
1961 .11-S ---- ----10113
1
1101,
1101:
_
11012
58
1043
J
gold
N Y State-4s
J
1947
Refunding
10273
10118
1
_ 1011. 10112
Canal Improvement 48_1961 J -J -1003-4
9558 April ____ .--- - - - Refunding 4s Series C__ _1917 J -J
10118 103
_
_ 86 9013
Canal Imp'ment (new) 43 1961 J J .10112 __ 1o11 J'ly'12 ____ 10034 102
Ind & Louisv 1st gu 4s_1956 1'j _ _ 831: 46 J'ly '1:
Canal Improvement 0_1960 J J 1'10112 ____ 10034 J'ne '12
: 9158 May'12 ____ 9013 9158
911
4
J
603
J
&
Ind
_
Chic
_1956
_
_
Sou
4s_
50-yr
*10
9734 __ 10312 J'ly
1933 J -J
____ -L
'11
Dec
s
Chic
104
So Carolina 4 1-is 20-40
&
.
_
East 1st 4 30_ _ _1969 J -1-1
4 - 73-,
9734 ___ 9734 Apr '12 ___ -6'131913 J-J
. • 10114 10218
10114
Tenn new settlement 3s
_: Chic Mil & St P term,' g 58_1914 J -J 10114 101-31 10114
_
„_ 831- 8612 Dec '11
9918
07
If
971,
Virginia fund debt 2-3s. _ _ 1991 J -J
97
9712
0612
-J
J
!
gold
Gen.
A__e1.389
4s
-5312
Series
46
5311 59
6s deferred Brown Bros etts_ ---- 52 Sale 52
97 -___ 9712 Apr '12 _-__ 9712 98
e1989 Q- J
Registered
_. 85 8678
Railroad
_ 851: 85 J'ne'1:
-J
J
3
gold
1.3_e1981)
Gen'i
;is
Series
8414
77
4
781:
77
78 70
81995 Q-J
___ --A on Arbor 1st g 4s
86 J'ne'll
e1989 J -J *8412
Registered
9713 100
9818 147 98
8
", 90 923tl.tch Top & S Fe gen g 45_1995 A-0 9758 Sale 9712
901;
991,
9014 Sale 0014
25-year deben 45
1934 J -J
us 9834 May'12
1995 A-0
1047- 28: 10134 10178
. Registered
101
Sale
10134
4
,
Cony
Ns
pd
Mull
rects)
0238
8912
5
81k
108
10614
____
'12
•. Adjustment gold 4s___81995 Nov ..„- 90 8012
Apr
10814
____
J
J
&
10318
L
Chic
g
Sup
5s_,,1921
Div
9014 91
81995 Nov 88 _ __ 91 Feb '12
Registered
Chic & Alo lily Div 5s„..1926 J -J 108 ,_ . 108 J'ne'12 ___ 108 10834
894. 13 8914 9238
i 10314 10652
81995 6I-N 8914 Sale 8914
1.51:
Stamped
Chic & P W 1st g 5s
1921 J -J 10512 Sale 10 02
____ 10734 Apr '12 .__. 10614 10734
. 9278 9514
i,3 J'ly '11
Cony 48 issue of 1909-__1935 J -D &
CM
Puget Sd 1st gu 43 1949 J -J _. 93
23 10534 10954
108
4 10814 108
1955 J -D 10734 102 103
i02
Cony gold 4s
Dak & Gt So gold 5s_ _1916 J -J 102 ___ 102
10434
1001.4
485
8
1013
113 113118
____
'12
-J
Apr
J
, Cony 43 (issue of 1910),,1960 J -D 10114 Sale 104
11314
__.
_1920
11234
Div
f
1st
s
6s_
Dubuque
5 105 110
108
16-year cony gold 5s__,,_1917 .1 -D 10734 10814 10734
1924 J -3 11518 ___ 11738 Aug'11
Far & Sou assum g 6s
_._
__ .._
4
1913 F -A 9838 _ _. 9914 J'ly -11 ...
1919 J -J 10434 ____ 10434 J'ne '12 ____ ii141-2 i6i3& D 1st 53
• Debentures.4s Series 11
LaCrosse
4
963
0j'1',
J'ly
106 J'ne'12 ._._ 106 10638
• East Okla Div 1st g 4s__. 1928 111-S 96 __ 06
VVis & $11nn Div g 5s__1921 J -J 103
•1214 li 92 94
3
1958 J -J ,„- 9218 92
22
1920 3-3 11234 113 11234 Men '1
Short Line 1st 48 gold
Wls Val' Div 1st 6s
11012
103
10(1
____
'12
XIV'
109
--.
__
_
M-S
___
1913 J-1) 10112 __ 10134 Dec '51_______________
S Fe Pres & Ph 1st g 58..1942
Mil & No 1st cons 6s
1063 J'ly '11 _
191 M'S 104 _
Chic & St L 1st 6s
1913 J -11 10018 ____ 10014 Noy'll
Extended 43.55
" -id7-8
947s -LL -6i18
9413
3 108
1005.
'17
AU Coast I. 1st gold 48_81952 M-S 9418 Sale 98
Chicago & N West cons 7s _1915 Q-F 10012 10714 10658 J'ly '1
___
'06
Oct
93
_61-S
81952
_ _ 9658 98
Registered
F-A
1 9652 J'lle
3
1886-1926
4s
Extension
_
'11
Aug
__-__.
9734 Noy'll
-------_
Ala Mid 1st gu gold 5s.___1928 M-5 107 103 10853
F-A
1886-1926
Registered
_ lig.3g -91";3-4
_ 9534 Jan •12
95
Bruns & W 1st gu gold 48 1938 J -J
1987 61- N ____ 85 8513 J'ly '12 ___ 85 87
General gold 3 30
_
_
__
_
_
Charles & Say 1st gold 7s 1936 J -J 128 _ _ _
8434 J'ly '12 _-__ 8112 8634
p1987 1)-F 8312 87
Registered
94 - iTli 6339 -6534
01952 If-N 94 Sale I-ii33 971s 9834
:,31• L & N coil gold 45
1987 II- N 1)712 9734 9712
48
General
12:3 ___ 12318 J'ne'12 __ 12313 12318
Say F & W 1st gold 0_1934 A-0
_
Sinking fund 63____1879-1929 A-0 11012 ____ 11134 Noy'll ____ __- -_ _
_
May'll
11058
---1934 A-0 10'914
..„.
Nov'09
1st gold 53
A-0
11114
ov
1879-1929
11014_...
/ji
Registered
'12
Jan
97 100 97
;
Sil Sp Oca & G gu g 4s_ LOIS J -J
1879-1929 A-0 105 -__ 100:s J'ly '12 ____ 10(3Ig 1067
Sinking fund 5s
. 91 93
2
0118 1:
9118 Sale ills
„„.
1879-1929 A •0 1045s ____ 10378 Dec '11
Totalt & Ohio Prior 3 30 _1925 J -J
Registered
4
915
May'12
9078
9158
91
39
10412 10512
May'12 __
8192 Q-J
.
10413
_
10412
A-0
1921
5s
LA Registered
Debenture
9718 84 9714 9914
81948 A-0 9714 Sale 9714
1921 A-0 la- ____ 11)013 Feb '10
Gold 45
Registered
9634 0818
9634 J'ne'12
96
81948 Q-J
•
Registered
1933 11-N 10313 - - - - 10812 Mch'12 _ _ ._ it5i12 i0132
Sinking fund deb 55
112 312
112 Jan '12
1922 J -J 11112
_ 10734 Aug'11
il-N
Pitts Juno 1st gold 33
1933
Registered
90
88
'12 __
-i• ivij- iifis
126
P June & III Div 1st g3'01925 61-N 89 8914 89 J'ne9038 ii 89513 92
Frem Elk & Mo V 1st Gs_1933 A-0 12112 127I2 12.;
_ - --'P L E & W Va Sys ref 45_1941 2I-N 8034 90 90
9013 Sep '00
Mani G B & N IV 1st 3 Pis 1941 J -J
9112
9012
26
4
903
9038 Sale 9018
---------Southw Div 1st gold.3 lis 1925 J -J
J
-J
_1941
3
634
_
L
&
--------1st
10_
S
gu
MN./
:::....,.,-,----,
---____ _„103 Meh'10 _
Cen Ohio R. 1st c g 4 30...1930 Al-S 10158
.1154
Mil L S & %Vest 1st g tis_ _1921 11-S iiis-8 11 i 1171. J'ne 12 .___ 1121
11112
Cl
CI Lor & W con 1st g 5s__193 A-0 10/ 10311 107 J'ne'12 .:___ 107
Ext de Imp s t gold 5s_19211 F-A 10318 -___ 10914- J'ne'12 ____ 109 - 110
10214 1041410214 J'ne'12
Monon Itly 1st gu g 53_1919 F-A 10253
Feb
'02
____
11.-S
14212
1925
11618
g
6s
1st
Div
Ashland
10938
_ 109.38 Meti'12 .. ... 10918
___ 116.3411634
Ohio River RR 1st g 5s_ _1936 J -D 10614 _
Mich Div 1st gold 6s_1924 J -J 11838 ____ 11634 May'12 ---1937 A -0 103 1(5818 10512 Apr '12 _ - _ _ 105 1051493% 94
At. 1
General gold 58
MII Spar &N W lstzu4s_1947 111-S !!:04 933, (9328
11312 11312
11312 Feb '12
-- .11-S 1111.
Pitts Clev & To) 1st g 69_1922 A-0 11113
___'11
___
J'ly
_
7s
115
g_1917
1st
Union
Northw
9734 ......_ 9712 Mch'12 _ -. 0712 9712,
_1917 J -J
111_
2 11151. Ill J'ly '12 ____ 111
Pitts & West 1st g
Winona & St P 1st ext 7s 1916 J-1) 113101
91
4 3is_1943 J -1) 91 -- 01 J'ne'12
Stat Isl Ry 1st gu g4s__Rock Is & pa 6s 1917 .1-J 10778 __ 10773,1'1y '11 ____ 10734 10878
_ 11178 11212 Chicago
1937 S.11-S 11134 __„_ 112 J'ly '12
_
'10
Aug
_
_
107
-J
J
109
Buffalo 11 & P gen g 5s
1917
Registered
1957 M-N 105 10614 10512.1'1y 'is ___. 10512 10'714
17 0113 -667s
04/9134 ..si'e 9412
Consol 4 3-is
1088 J -J
General gold 4s
__ ____
1998 A-0 9715.___ 97 - Feb '11
94 9614
__
9312 94,4 95 J'iy '1
-J
J
1988
• All & West 1st g 4s gu
Registered
J'ly '08 ::_
8853 10 8818 9034
1934 A-0 8338 Sale 8818
Cl & Mali 1st gu g 53__ _194 J -J 108 __ 103
Refunding gold 43
11334 Nov•41 _
9458
9214 '7', 91
loch & Pitts 1st gold 6_1921 F-A 11213._ 11434 J'iy '12 _:_ _ iii3-4 ii53-2
20-year debenture 5s _ _ _ _ 1932 3- J 92 Sale 9134
_
192 J -I) 1147
__,_ 9734 Sep 11 ____ ____ __
97
Consol 1st g Os
111-N
_1914
__
_
4s
L
Series
trust
Coll
2 Meh'10
._
___..-____
1.)612Noy'll
98
Buff & Susq 1st ref g 4s___d1951 J -J --------7
.11-N
9534
1915
M 93
10078 15 is:365;3 10i
1913 J -J 10038 101 10014
95 0434 J'ne'11
an So 1st ext 68
1918 MN
P 48
10014 101
1913 M-S 10033 1003. 10038 fly '12
6834 It 67 7314
2d 58
Chic It 1 & Pac RR 4s.,_2002 61.-N 6818 Sale 68!8
1913 M-S 9)34___. 10034 Jail '11
Registered
7134 Meh'12 ____ 7134 7234
2002 M-N _
Registered
11334
8
1127
'12
Apr
1127s
..,__
11218
F-A
Central of Ga 1st gold 5s__p1945
It I Ark & Louis 1st 4353 1934 /31-S 11138 913-4 9112 Apr '12 _ __ 9112 93
111
10'}1.
10A4
1o45 Nt-N 191 1
Consol gold Is
Bur C R & N-lst g 5s 1934 A-0 11014 ___ 111 J'ne'12 ____ II() 11112
___
- ----10713 Nov'll ------1945 M-N -------Registered
_ _ 12012 Meh'03 __ _ _ _ _ _ _
1934 A-0
Registered
103 Dec '11 ____ ____
1st pre( income g 65_4.11945 OCt
C R I F & N W 1st gu 5s '21 A-0 10312 ____ 10514 Sep '11
_
--_--_
10613 May'll
Stamped
____ ____ ____
-I)
J
1927
St
g
L
&
1st
7s
gu
M
Dec '11 ___ _ _ -____ 105...• ....2d pret income g 5s_ ___p1945 Oct- -------_ 10234 Aug'11
Choc Ok & G gen g 5s._o1919 J -J - _
____ - -____ ____ 96 Noy'll --------_
May'12._ 107 10814
2d pret income g 58 stamped
107
i(1(c12Ig14
ol
5s
11-N
gold
1952
Consol
-----Cons
___--___
3d pret Income g 53____p194,5 cicl- ----.... 107 Dec '11
___ . 10012.1'1y '------100 10114
9012
M
1st
5s___
A-0
Des
_1923
&
-,-8518 Oct '10
.__
1217,
1 12172 124
• 3(1 pret Income g 53 stamped
1231: 12118
8958 9112 Chic St PM 6c 0 con 6s___ _1930 JD 12178
_
_
Chatt DIY pur mon g 4s__1951 J-1) ;90 - :: _ 9112 J'ly '12 .. _ 10714 10714
Cons 6s reduced to 3;15-1930 J -D 89 __ _ 93 Dec '0-• _
Jig
3,
163 12312
' Mac & Nor Div 1st g 5s_ _1946 J -J 10714 10.1'2 11)714 Jan •12 _-__
10314
n-s
1930
loS14
10212
5s
10114
Debenture
......_
122
Mid Ga 64, At) Div 5s___ _1947 J -J 10533 ..... 115 Nov'05 _____ ____
122 J'ne'12 ......
Ch St P & Minn 1st g Gs_ _1918 11-N
1946 J -J 103 __ 10934 May 11
1st C Is
. • Mobile Div of
1295sMaY'09 -1930 J -J
Nor Wisconsin 1st 6s
Ga col g 53..1937 111-N 101 10212 10212 J'ly '12 __ . 10212 10:3
.63Cen 1114 & 13
4 ii1-12
St P & S City 1st g 6s_ _1919 A-0 il(i- ill 110341104 May'12 __:: il12012 -9 120 12234
1987 J-J 120 121 123
Cent of NJ gen', gold 5s
L 1st 5s-i_1930 Si-S 10J14 ----,,
Short
Superior
12214
12014
2
Q-J
12012
81987
11912 12031 12312
Registered
10812 J'n-e'12 ____ 113i- fail;
Chic &West Ind gen g 6s_ _0932 Q-M
5 90 9218
Ain Dock & Imp gu 55___1921 .3 -J 10358 10634 106 J'ly '12 ___ 106 107
p03•
1952 J -J
9038 Sale 9018
Consol 50-year 45
1021:
Le & Ilud R. gen gu g 53.1920 J-J 10214,,,, 10212 May'12 _ 10213 100
____ 1014 101 Mch'l ____ 101 101
J
2d
4
gold
-J
D
&
II
Cin
54s_1937
100
.
'1')
.....
Leh & Wilkes-B Coal 53_1912 51-N 100 _ _ 100 J'ly
J
19.59
-J
4s
---refunding
our
ec
-,,1st
--:.
_
.._ _
--_ 100 Dec '11 .
N Y & Long Br gen g 43_1941 M-S 98
907. 801, J'ne'12 _ _ -W.-SW'
1959 .1-i
1st guaranteed 43
on - 021.
Cant Vermont 1st gu g 41._6192n 0-10 01 -afz.. oil. _Vnei'l') --Page.
Next
on
Continued
BONDS
MISCELLANEOUS
N.
L1-8
BONDS
Y. STOCK EXCHANGE .`..! E
a.
Week Ending July 26.
e.
Price
Pricey
.:t.ly 23
_
C
Street Railway
Brooklyn Rap Tran g 53_1945 A-0
-J
1st refund cony gold 4s_2002 J
J J
13k City 1st con 5s 1916-1941
13k Q Co & S con gu g 5$..1941 11-N
131clyn Q Co & 3 1st 5s__1941 J-J
Bklyn Un El 1st g 4-53_1950 F-A
Stamped guar 4-55_.._1950 F • A
1949 1.3-A
Kings Co El 1st g 45
1949
Stamped guar 49
-J
Nassau Eiec guar gold 48_1951 J
J -J
pis_'51
4
5g
ref
&
List
Conn Ry&
1951 J -J
Stamped guar 4 35s
Det United 1st cons g 43.5s_1932 J -J
Ft Smith Lt & Trac istg 5s _ 1936 11-S
Grand Rapids Fly 1st g 5s_ _1916 J -D
1952 F-A
Havana Elec consol g 5s
Interboro-Metrop coll 4 30..1956 A-0
N
interboro Rap 7Y 5s Ser A.1952
1 103 10.538
10512 Sale 10512 10512
921. 457 8373 913,
0215 Sale 9178
10214 104 10213 J'ly '12 ---. 10112 102)1
9834 9834
'3834 J'ly '12
_ 93
10314
161:12 i
1521 3 1021: iGi"
10112 1021!
__ 10(14 J'iy '12
102
8312 8534
8l12_. 8034 May'12
8414 86
8i1 ij 8538
86
78 81
77 8013 7814 J'ly '12
101 10178
10134 10217 101'8 J'ne'12
1 10112 10214
10214
10134 Sale 10134
Ill
3 75 7938
7512 78
70
03 95
- 041: 93 Apr '12
10014 10014
10014 Meh'12
98/3 9934
9878 9,114 98,3 J'ly '12
8253 115 8012 8412
8214:Sale 8214
10458 Sale 10138 10178 51, 10318 105
Street Railway,
Manhat Ry(NY) cons g 48_1990 A-0
Stamped tax-exem pt_ _1990 A-0
Met St Ry gen coll tr g 53..1997 F-A
Guaranty Trust Co certifs_ _
6
9002 -A-7
Refunding gold 4s
Farmers' Loan & Tr ctt_
Stamped
Bway & 7th Av Istc g 5s..1943 J-151
Col 6, 9th Av 1st gu g 5s_1993 M-S
Lex Av &P F1stgug5s1993 61-S
Third Av 1-tR cons gu 43_2000 -J
Central Trust Co certs
Cent Tr Co cts stamped.. __ _
Third Ave fly 1st g 5s___1937
Met W S El (Chic) 1st g 45_1938 F - A
Ifilw Elec By & Lt cons g 5319213 F - A
Refunding & eaten 4.145-1931 J -J
J ily. 8 Due Aug. 0 Due Oct.
!No price Friday; latest this week. d Due April. e Due May. 8 Due
9614 9612 9614
9614
9614
96 97 9614
102 Mch'12
9918 J'ne'12
64 May'12
6114
---- -- 6114
5934 Mch'12
10318 io-S1- 10318.1'1y '12
102 1021i 10212 J'ne'12
103 132 J'ne'12
74 J'ly '12
---- 73
7412 J'ly '1
7412 J'ne'12
103
108 Sale 103
9312fly '06
- 10412 Dec '11
9512 May'12
9 9614 981s
2 9614 98
9913102
97 10323
5812 64
1 5712 6214
5758 62
103 10412
10112 10313
102 103
74 80
73 811s
7214 811.4
108 11012
9512 9513
p Due Nov. q Due Dec. s Option sale.
224
-s-
New York Bond Record—Continued—Page 2
r3'
BONDS
N. Y. STOCK EXCHANGE h E
Z
Week Ending July 20.
,a,
[VOL. Lxxxxv.
4
Price
Friday
J uly 20
Week's
Range or
Last Sale
..1
.1,g,
cQ
Range
Since
Jan. 1.
BONDS
N. Y. STOCK EXCHANGE
Week Ending July 26.
. Price
Friday
July 26
Week's
Range or
Last Sale
Range
Since
Jan, L
1z1
av°
Cm n Ham as Dayton (Continued)
Bid
Ask Low
High No. Low High St P M Fe Al (Continued)—
Bid
Low
Ask
No Low High
High
Gin D & I 1st gu g 5s___1941 11-N 10212 10312 10212 May'12 ____ 10212 104
Pacific
Ext
guar 45 £____1940 J-J
9212
14
0258Meh'll
C Find & Ft W 1st gu 4s-g 1923 11-N
_ 88 Meli'll
E 111011 Nor Div 1st g4s1948 A-0 0614 6f
'12
J'ly
9612
-66.172
Cin I & W Ist gu g 4s_ __1953 J-J 87 - -8814
- 88 J'ly '12 ____ 6,-1-2 -88 Minn Union 1st g 6s___1922 J -J 11417
114 J'iy '12
114 116
Day & Mich 1st cons 4 yis 1931 J -J
Mont C 1st gu g 6s___1037 J-J 12518 _ 127 May'12
127 12714
Ind Dec & W 1st g 5s___1935 J -J 1011-2 10,:5, 10112 J'ac'12
101 10112
Registered
13614
1937
1241,
J-J
_
May'06
1st guar gold 5s
-1935 J -J
10712 Dec '02
1st guar gold 5s
1937 J -J 11134 114- 11234 Sep '11
Cleve Gin C & St L gen 48_1993 J -D 0134 9314 92 J'ly '12 ____ 9112 9314
Registered
1937 J-J
20-yr deb 4 3t1
_1931 J-J ......._ 9314 9334 J'no 12 _--- 9334 933
Will & S F 1st gold 5s_1938 J-D 112
ll2lSep
'11
Cairo Div 1st gold 4s____1039 J -J 9212 9112 9338 J'ne'12 ___. 9328 941; Gulf & S I 1st
ref & t g 53_01952 J -J
9113 -a
0114 62' 9118
- J'ne'12
.
Gin W & 51 Div 1st g 4s__1991 J -J
90 0034 90
90
3 90 03
Registered_
51952 J -J
St L Div 1st col tr g 4s1990 111-N 9014 9134 9012 J'iy '12 ____ 8978
931. (jock Vai 1st cons g 4;0_1990 J -J 100 10034 1111:13-,
10012103
Registered
1990 11-N 8812 90 91 Oct '07 -111 Registered
1990
J
-J
10012 Sep
Spr do Col Div 1st g 43_1040 M-S 90 ____ 90 Deo '11
- -Col & II V 1st eat g 9s
1948 A-0 -611; _ _ 9412 Dec '11
W W Val Div 1st g 93_1940 J -J (J0 9212 91 Apr '12 __
Col & Tot 1st ex 4s
1955 F-A
0213
_ 9l31 Jon '12
-udi2
C I St L de C consol 68_1920 11-N 10013 —__ 10534 Dec '11 __._ of - -61 _ Hous Belt
&
Term
1st
1937
5s
J-J
9958,__ 9934 J'ne '1::
1st gold 43
0012 9934
k1938 Q-F 96 98 97 Mcb•12 _.. 96 tif
ilinois CentralI
Registered
k1930 Q-F 96 98 06 J'ly '12 -- 96 90
-.5- 1st golcl 4s
1951 J -J 102
10212 May;12
10212 104
Cin S & Cl con 1st g 5s_1928 J -J 10638 ___ 10718 J'ly '12 _ _ 10718
Registered
1071s
1951 J-J
- 100 Sep '11
C C C & I consol 7s
1914 J -D 10412
105 J'ne'12 ---- 105 1031
1st gold 3 10
1P51 J -J
9078 — _ 90 Apr 'L.
00 1,0
Consol siniting,fund 7s_1914 J -D
____ ---Registered
1251 J -J
89
8'J Apr '12
89 8912
General consol gold 65_1934 J -J __ 12312 1231-2 Apr '12 ___ 12S1-2 1.23-1Extended 1st g 3 yis_1931 A-0 89 ____ 9312 may•ou
,
Registered
123
1034 J -J
Registered
1951
80
- .7.
Ind 131 do W 1st pref 49_1940 A-0 90 --- 1)4 J'ly
u8 --__
1st gold 3s sterling
111-S
A-0195
160 Ind & W 1st prof 5s d1938 Q-J
05 -,-- --Registered
-,. ---- - - - 1051 M-S
Peo & East 1st con 4s
1940 A-0 __ 9114 ui - J'n-e-'12
____ 6oi, 62Coll trust gold 48
1952 A-0
9712 rod"
Income 4s
1900 Apr
38 4312 3812
39
5 35 4671,
Registered
9812 Aug '11
1952 A-0
Col Midland 1st g 4s
1937 J -J
48 Sale 48
4919
5 42 5812
1st ref 48
1955 3.1-N
J'iy
'12
- *164
Colorado & Sou 1st g 4s
1920 F-A 90 iiii12 9573
06
4 0134 972
Purchased lines 334s__1952 J-J
8014 Feu '12
8618 8614
Refund & ext 4 ;is
1935 M-N 9618 Sale 90
9614 3', 96 9818
L N 0 & Tex gold 4s,1053 M-N
2 00 0012
Ft W & Den C 1st g 6s
1921 J -1)__ 11012 111 May'12 ---- Ill 1121,
Registered
1953 5.1-N
- — _ 0434 Jan '11
Conn & Pas Rivs 1st g 4s....1993 A-0
---Cairo Bridge gold 4s
1950 J-D 9412
_ 9'828 J'ly '12
017 95
Cuba RR 1st 50-yr 5 g
1952 J -J ---- ----166- Ma-rio
Litchfield Div 1st g 3
1951 J-J
7312 73t2
7.112 7518 7312.1'140'4:
nel Lack h Western—
Loulsv Div & Tering 301953 J-J
85 86 85.8 J'iy '12
8713
8412
I,Morris & Essex 1st 7s 1914 11-N 10434 Sale 10134
105
11 10434 100
Registered
1953 J-J
8312-- 8314 Nov '10
1st consol guar 7s
10712
1915 J -D 10734 101
,
8 10,12
1 10712 10918
10534_
Middle Div reg 5s
1921 F-A
123 May'19
Registered
1915 J -D 107 --__ 11188 Deo '10 ..._
Omaha Div 1st g 3s
1951 F-A
7314 f5 75 Apr '12
75 -fg" !
1st ref gu g 3 Vis
2000 J -D 85 -- 1.10 Mch'12 ....... 90 90
St Louis Div & term g 3s_1951 J•11
74 77
7512 Mch '12
7512 7517
NY Lack do W 1st 6s
1921 J -J
,Jiy '12 ---- 112 11414
1121,
Registered
1951 J -J
73
Construction 5s
1023 17-A 112_,.10512 le1734 10734
- May'12 __ 10712 10734
Gold 3;is
1951 J-J
8512 8834
8512 8/ -g658
Term & improve 4s
98 98
1023 M-N
98
5
. 03 98
Registered
1951 J-J
8312
10118 Oct 1
I
Warren 1st ref go g 3;0_2000 F-A --------10
_
213 Feb '03
Spring Div ist g 3 yis
1951 J-J
84
87
Nov
100
'00
Del & Hod 1st Pa Div 7s
1917 M-S---- 11512 Aug'11
Registered
1951 J-J 83 86
1917 11-S _ -___ 149 Aug'01
Registered
Western lines 1st g 4s.._1951 F-A 9418 9614 -11412
- J'no'1:
(5412 9614
10-yr cony deb 4s
Salo 98
1916 J -D
9814 34 fifzRegistered
2 -‘56 1951 F-A 9312 ---1st lien equip g 4;is
10114
1922 J -J 10114 Sale 10114
Belley & Car 1st 6s
3 101 10134
1023 J-D 11314 ____11712 May'10
1st & ref 45
1943 /31-N 0914 9978 9914
Garb & Shaw 1st g 4s
0912
7 08 993,
93
1932
9912 J'ly '12
1)412 "66"
Alb & Sus cony 3;4s
1946 A-0 9012 Sale, 9012
Chic St L & N 0 g 53.._1951 51-S
91
26 90 93
J-D 11334 _
11334
i 1334
11334 116
Rens & Saratoga 1st 7s_ _1921 1I-N 120 ....- 12114 May'12 .___ 1211 1211:
Registered
1951 J -D 113
114 Feb '11
Deny& R Gr 1st con g 43.19311 J -J
85 8534
8518 lb 84 01
- 84
Gold Si
-Is
1951 J-1)
OU Oct '00
Consol gold 4 (.is
1036 J -J
9712 9738 J'ly '12
Registered
9738 981!
1951 J-D
Improvement gold 5s
1928 J -I) 93 97 94 J'ne'12 _
Memph Div 1st g 4__193l J -D -E1-2
94 991:
-0712 Mch'10
1st & refunding 5s
1951 F-A
8.613 Sale 8418
84l13
Registered
(I 84 90
1951 J-D ---- -Rio Gr June 1st git g 5s 1939 J -D 10112-- 104t2Meh'll __ ____
St L Sou 1st gu g 4s
___
1931 M-S
J'ly 08
Rio Gr So 1st gold 4s
1940 J -J '____
6112 Apr '11 ____ _
Ind Ill & la 1st g 4s
1950 J-J
0234
9238 J'ne
9238 96 ,
Guaranteed
1040 J-J--._ 85 Mch'08
Int dc Great Nor 1st g 6s
1919 M-N 10
9
8
3
14
108 10812 ,
-10
9.ti
812
Rio Cr West 1st g 4s
1939 J-J 83 85 8334
'12 - -- ki.31938 J-D -___ 6612 100 J'iy '12
100 10212
4 -ii1̀.5; Iowa Central 1st gold 5s
Mtge & col trust 93 A 1040 A-0 __ 80 80 PlY
J'ne'12 _.,-._. 78
81
Refunding gold 4s
1951 111-S 62 64 6278 J'ly '12
6212 0612
Utah Cent 1st gu g 4s.(41917 .1-13 ____ ____ 97 Jan 'I.).. ____ __
Tamestown Franklin de
Des Mot IIn Ry 1st g 5s
1917 M-N
110 Sep '01
-- --- ')Clearfield 1st 48
1959 J-D
94 9412
99 May'12
Det & Mack 1st lien g 4s......1995 J -D . _ 95 02 Nov'll
K
aniVeis
City
g,
Sou1st
___ __..
gold 3s 1950 A-0 7312 74173 J'ly '12
72 74
Gold 4s
1995 J -D 9112 9212 9212 J'nc 12
00 0212
1950 A-0
03 Oct '00
Det Itly Tun Det Ter Tun 4 1 is'01 111-N ._ _ 9912 9912
9912
Ref & imp; 53
2 9912 10078
9734 10014
Apr 1950 J-J
08
0819 98
Det T & 1-0 S Div 1st g 431041 M•S __
. 75 Feb '12
75 75
Kansas City Terml 1st 45_1960 J -J --,1/7 9734 93
98
0634 9034
Dul MIssabe ea Nor gen 5s.._1941 .1-J 103 rod L0534 10534
r alas Erie & W 1st g 5s__1937 J-J 10712 _
i 10538 106
_ 10712 J'ly '12
10712 110
Dui & Iron Range 1st 55_1937 A-0 10112 105 10112 10112
-IA 2d gold 5s
1 10412 107
1041 J-J 104 10112 104 May'12
104 10414
Registered
1937 A-() 103 ___ 106123.1ch'08
North Ohio 1st gu g 5s__ 1995 A-0 10414 1001: 10114 J'ne'12
10114 10512
• 2d Os
1916 J -J 103114___ 104 Feb '11
Leh Vail N Y Int gu g 4;i811940 J-J 105 Sale 105
1o5
105 106
Dul So Shore ec Ati g 5s
1937 J -J 106 -_-- 10512 J'1Y'12
Registered
4131.2 io1
1940 J-J
10412 10412
Lligin Jol & Bast 1st g 5s 1941 M-N 11038 11138 11218 May'12 .--. 11034
11218 Lehigh Vall (Pa) cons g 43_2003 n-N
11.
2
ki'layr
9734
11
'
1
4
2J
1
9
0
97 9014
8
.
1:/rie 1st consol gold 7s
116(.,J'iy
1920 51-S
__ 11'712
'12 ____ 11614 11858 Leh V Ter Fly 1st gu g 5s_ 1041 A-0 HS); ___ 119 May 12
11314 119
N Y do Eric 1st ext g 98_1947 ,11-N :_
_
2 J'ne'll
101(
Registered
-1941 A-0 110 __tills Dee '11
2d ext gold 5s
1919 11-S 10334.-- 10414 Meh'12 ...... ifii14 16;1[2 Leh V Coal Co 1st gu g 5s_1033 J - J 10714 108 - '108 Nov.00
3d ext gold 4 34s
1923 131-S 101
10212 1fch'12
Registered
10212 10234
1933 J-J
4th eat gold 5s
1920 A-0 103 —__ 105 Feb '12 ____ 105 10514
1st int reduced to 4s_ 1933 J-J
5th ext gold 9s
1928 J-1) 95 101 100 Jan '12
Lou & N Y is; guar g 4s__1945 51-S
100 100
'33 941
NY LE do W 1st g fd 78_1920 St-S __ 11614 11534 J'ne'12 ____ 11534 11612
Registered
M-S
Erie 1st con g 4s prior
1996 J-J
89 8934 8912
El C do N 1st pref 6s
8912
2 8812 00
1914 A-0
10112 Feb '10
Registered
J'ne'12
1996 J -J
8434
8812
Gold guar 53
86 881,
1014 A-0
103 WO'12
103 103
1st consol gen lien g 4s..1996 J -J
78 Sale 78
78
12 7773 7934 Long IslandRegistered
1996 J-J
77 Apr '12
1st consol gold 5s
77 77
711931 Q-J
._ 10
2
_.
112
10
614:
J
1,
115;1 412
10934 1 1033
Penn coil tr g 45
1951 F-A 90 9012 9012 J'iy '12 3 10 8818 91
is; consol gold 45
711931 9-4 _1)5
(5)14 I1014
50-year cony 4s A
1953 A-0 86 87 8612
General gold 43
8612
3 8558 9118
1938 J -D 0418
9.114 J'ly
9412
01
Series 13
do
1953 A-0 7814 7912 7838
Ferry gold 4yis
79
99 7514 807.
11-S
1927
100
08
J'ne'12
98
93 98
do
Erie
N
Buff
)5t 78_1916 J -D*_ _111 110 Apr '12
Y
Gold 4s
1932 J-D 9118 97
10834 110s4
0014 Oct
Chic & Erie 1st gold 95_1982 ,11-N 11-2 113 113
Unified
gold
48
113
4
11-S
1949
112
114
9512 J'ne
02 -15E1;
Cloy as Mahon Val g 5s 1938 J -J 109 _ _ 109 May'12 __ 109 109
Debenture goal 5s
1934 J-D
10412 Dec '00
Registered
1038 Q-J 107
Guar ref gold 43
1949 n-s —. 9534 95,8 J'ly
03 9713
Long Dock consol g 6s
1935 A-0 124 --__ ii91,May'12 _ 1233Registered
129I:
1949 11-S
95 Jan '11
Coal & RR 1st cur gu 6s..1022 ,11-N 10618 __ 1067; J'ne'12 ____ 106 4
N Y 13 & Id 131st con g 5s 1935 A-0 10411 10714 11014 Nov '06
107
Dock & Imp 1st cur 68_1913 J-J 10118 ___ 10134 Mch'12 ___
N Y & It 131st g 5s
1927 IM-S 10312 10112 10312 J'ne'12
10134 10134
10312 10312
N Y & Green L gu g 153_1946 ,11-N 10312 108 105 May'12
105 105
Nor Sh B 1st con g gu 58.01932 Q-J 10512
10714 Jan '12
10012 10714
N Y Sus & W 1st ref 5s 1037 J -J ___ 10338 103 fly '12 __ 103 105
Louisiana &, Ark 1st g 5s
M-S
1027
91
May'12
93
__023
4
03 9412
2d gold 44s
193 7 F-A
8212 __ 10014 Dec '06
_ _ _ Louisville & Nashville—
General gold Os
87 J'iy '12
1940 F-A 8514
General gold 8s
gi. 90
11318 114 1127
113
J-D
1030
11
11212
11712
Terminal 1st gold 5s 1943 11-N 10812.-- 110 J'ne'12
110 110
Gold 5s
1037 /31-N 11134_ 112 Apr '12
11117 112
Mid of N .1 1st ext 5s
1940 A .0
11112 May'12
111121111.
Unified gold 48
98 987-8 . 9834
1040-J
984, 3
J
. 98 9938
Wilk & Ea 1st gu g 5s
1942 J -D ___ 1009910 J'ne'12
9912 1021:sa
tel r
tgelr
90 ___ 9818 J'ly '12
9818 9838
Ev & Ind 1st con gu g 68_1926 J -J 109 ___ 100 - MaY'12 ____ 106 106
de.
°
trust gold 53_1931
Con
11012
IM-N 109
1(110
1 May'12t0)
1 10858 11017
1940
"
Evans & T II 1st cons 6s
1921 J -J 11012 —_ 112 fly '12 ___ 11112 11238
11118
E H & Nash 1st g Os__ _1910 J -D
111 11138
1st general gold 5s
1942 A-0 10134
102 J'ne'12
10178 10258
L Cin as Lox gold 4 35s- _1931 11I-N 103 ___ 10434 May'12
10413 105
Mt Vernon 1st gold 63_1923 A-0 10734 --- 108 Nov'll
N 0 & ld 1st gold 6s
1930 J - J 120 12117 121 Mch'12
121 121
Bull Co Branch 1st g 53_1930 A-0 _ _. _ 95 J'ne'12 ..„ 95 95
N 0 & 111 211 gold 83
11712J110 'I:
11330 J-J 11718
11712 11712
l'illorida E Coast 1st 4 5.4s_1959 J -D ____ iij w,
9678
Paducah & Stem dlv 43_1946 FA 9418 ___ 95 May'12
6 90 9938
ll5 96
41.' ort St U D Co 1st g 4 ;0_1941 J -J _
_ _ 92 Aug'10 __ _ ... _
Pensacola Div gold 0s
1920 71%-S 10534 —
10534 Mich '11
Ft W & Rio Cr 1st g 45_1028 J -J 77 - Sale 77
77
811
i if
11212J'iy
2 St Louis Div 1st gold 6s_1921 MS
11217113
flat 11 & 11 of 1882 1st 5s..1013 A-0 0912 __ 100 May'12 _
2d gold as
6013 6934 6913 May
9912 100
691s 6934
1980 51-S 11212N-Ireat Northern—
AV Knox & Cin Div 48_1955 51-N 9258 Sale 11210
9234 1. 92 93
C B & Q colt trust 4s
1921 J-J
0614 Sale 9613
AO Knox & Nor 1st g 53.10.16 J -D 1 1214 115 112171 May'12
9814 170 06 085s
11212 11212
Registered -h
1021 Q-J
96 Sale 96
96
( 90 9838
11ender Bdge 151 s f g 63_1031 M-S 105
:1
,rvr 121
9318 _6
A
)3
6 J
.
.
4.
18 110
1st ec refund 4 3.js ser A_ _10i1 I J J 10034 Sale 10038
10034 27 10018 10158
Kentucky Cent gold 4s_ _1987 J-J
"ti:T - 05
Registered
L & N & M do NI 1st g 4 301045 M-S 10153.___ 10151 J'ly '12
10.114 10453
St Paul ,II & Man 43
1033 -,J -"J" 6712 6612 6114 J'ne'12 ____ fi3;14 663-4
L ec N-South XI joint 4s_1957 J-J
88% 8058
8918 921g 8018 J'ly '12
1st consol gold Os
12134 J'ly '12.
1933 J-J 12358 _
Registered
12134 12534
711952 Q-J
Registered
---. 132 Apr '09
1933 J -J
N Fla do S 1st gu g 5s____1937 F-A 10
109
1003
86
3
1
0
0
-12
10
9
9
5
Fe1
1
0
)
:
7
05
Reduced to gold 43.4s1933 J -J
10112 11 10412 106
_ 10434 10112
N & C Bdge gen gu g 4 yis 1945 J-J 10158
(
2
Registered _
1933 J -J i1S ._ _ _ 10834 J'ne'09 ____
Pens & All 1st gu g 6s1921 F-A 11012
Hi- HiMont ext 1st gold 48_1937 J -1) 9612 07
97 J'ly '12 ____ 9512 9814
S & N Ala con go g 5s1936 F-A
ll)918 11 118
10918 J'iy '12
Reffistered
1937 1 -11 95
1151 J'ne'11
f, & Jeff 13dge Co gu g 4s_ _ _1945 M-S 4-61- :7_7. 9114 Men'12
9114 0114
MISCELLANEOUS BONDS—Continued on Next Page.
H
o-gis
---;
Street Railway
Mlnneap St 1st eons g 5s___1919 J -J 10214
_ _ 102 J'ly '12
10112 102
New On Ely & Lt gen 4 10..1035
86 8712 8714 J'iy '12
8412 8812
N Y Itys 1st It B & ref 45 temp J -J
7812 Sale 7814
7834 126 7734 8158
Temporary a(11 Inc 59
A-0 53 Sale 5734
5858 502 5112 593,
Portland Ry 1st & ref 5s___1930 NI- N 10034
99 Feb '12
90 99
Portland Gen Bice 1st 5s_ _ _1035 J J
-St Jos It', L. H. & P Istg 5s 1937 \I-N 98 — _ -68 NO;,
;715;
St Paul City Cab cons g 5s__1037 J -J 106 Sale 106
100
1 10514 100
Third Ave 1st ret 45 ars
8234 91 8134 86
8234 Sale 8212
Adj Inc 5s interim etts
72
176 7031 8014
72 Sale 7034
Tri-CIty fly & Lt 1st 5 1 53_1923 A-0 98 98.18 9818
98'8
6 0753 99
Underground of London 53.,1920 \I-N
98 Apr '09
4;is
1933 J -J
9512 J'ly '12
_ 95 9614
Income 13s
1948
86
85 8612 80
7412 00
Union Elm (Chic) 1st e; 5s1045
84 Oct '08
United Itys Inv 1st lien coil
trust 5s Pitts issue
1928 11-N 8212 8412 8412 J'ly '12
8334 8612
Street Rail wa ys.
United Rys St L 1st g 4s___1934 J -J
7612 80
76 __.- 7712 J'ly '12
St Louis Transit gu 5s___1924 A-0 84 83 84 J'ly '12
84 85
United RRs San Fr s t 4s__1927 A-0 __ 60 60 sly '12
66 70
Va Ry & Fwr lst&ret 5s___1934 J -J
9612 0634 97 J'ly '12
96 9712
(las and Electric Light
Atlanta G L Co 1st g 5s _1947 J-D 104 -ilklyn U Gas 1st con g 5s__1945 M-N 10653 107 107
107
11 1161;
Buffalo Gas 1st g 5s
1947 A-0
69 6112 J'iy '12
60
61.8 64
jo.
Columbus Gas Is; g 5s
1032 J-J
94 —__
Detroit City Gas g Os
1923 J -J 101 10112 101 J'ne'12
101
[Jet Gas Co con 1st g 5s
9558 Sep '08
1018 F- A
10113
Bet Edison 1st coll tr 5s
10112
10138 11)213
1933 J -J
Eq GLNY 1st con g 5s
_ _ 10634 10534
10534 10334
1932
(;a3 de Mee Berg Coo g 5s.._1949 J-1) 103
6113 Oct '01
Gr itap G L Co 1st g 5s
191 5 - A 99 -- 10(1 Oct '00
Hudson Co Gas 1st g 5s
1949 11-N 105 ____ 10518 J'ly
1041410.513
Kan CRy(Mo)Gas 1st g 55_ _1922 A-0
99343an '12
9018 9934
• No price Friday; latest bld and asked this week, a Due Jan. 5 Due Feb d Due Aprli. 71 Due
July. k Due Aug. 0 Due Oct. $ Option sale.
225
New York Bond Record-Continued-Page 3
JULY 27 191211
Range
Week:
r3•Price
BONDS
Range
Weck'3
Since
Range or
Friday
. Y, STOCK EXCHANGE
Since
Range or
Jan. 1,
Last Sale
-.3., July 26.
Week Ending July 28.
Jan. 1
Last Sal;
----High No Low High
Ask Low
Bid
Y C & H 11-(Con)Bid
High No. Low High
Ask Low
3/ 9934 101
9958 10014 9934 100
West Shore 1st 4s guar__2361 J-J
--Vranila RR-Sou lines 48_1936 M-N ____ 88
97 9812
9838
9838
3
J
J
361
2
Registered
r-iio
2Ap
.
1";1
_
roots.
tr
3s
4-V-L mann Cent Inc g
10012
-------'11
J'ly
__
J-J
1923
As
Y
N
4
tr
Cent
eq
Lines
1917
Equip & colt g 5s
Y New Haven & Hartf_ 77 Atc-tiio
Mex Internet 1st con g 4s.._1977 M-S
9112 02
'11:
___
9134
J-J
9112
1955
J'ly
Non-conv
4s
deben
S
AINov'10
79
_1977
guaranteed..__
Stamped
0112 934
1956 34-N 0034 9238 9134
Non-conv 4s
9134
129 129
1927 J -D iiS 12012 129 Feb '12
Minn & St L 1st gold 7s_
00 9458
Cony debenture 3 Hs_ __ _1956 J-J 90 _ _ 9018 J'ly '11
Ill 11018 Aug'11
1921 A-0
Pacific Est 1st gold 8s
13212
128
1287,
12812
12838
-J
J
4
1283
Cony
1048
6s
idE
10112
debenture
May'12
13134
100
1939
M-N
1st consol gold 58
'12
J'ly
99
991s
111-N
99
_..
99
4s1954
Harlem
R-Pt
Ches 1st
2 60 6978
62
1st and refund gold 48_1949 M-S 61 62 62
9912 9912
9912 J'ne'12
B & N Y Air Line 1st 4s1955 F-A .._
7612 7712 77 J'ly '12
77 81
Des M & Ft D 1st gu 45....193: -J
'12
9212.1'1y
9217
____
J-J
Cent
4s1951
New
9734
Eng
9214
gu
1st
935$
90
'12
J'iy
J-J
9614
gu.1938
9614
97
M StP&SSrif con g 49 int
114 115
Housatonic It cons g 5s_1937 M-N 115 ____ 115 Men'12
1941 34- N 9612 9712 9714 J'ne'12
9714 9714
1st Ohio Term! s f 48
N YW'ehes &Hist ser I 4 Hs '46 J -J 100 Sale 100
1004 11 98 10014
9614 9614
9612 _. 0614 May'12
rifSSM&A 1st g 43 Int gu 1926 J- J
N 11 & Derby' cons cy 53_1918 M-N *10213 ____ 107 Aug'09 _
9812 Mch'11
Mississippi Central 1st 53_1949 J - J
New England cons 5s
1945 J-J ---------_- --04 97
95
D 9434 9514 9478
Mo Kan & Texaslst gold 481990
9913100
9912 Mch'12
9958
1945 J-J
Consol 4s
1 SO 8418
8114
01990 F-A 81 8112 8114
2(1 gold 4s
84 84
Providence Secur deb 4s_1957 11-N ___ 8211 84 J'ly '12
101 10212
1944 M-N 100 10018 10112 J'iy '12
1st ext gold 5s
Y 0 & W ref 1st g 4s_g1992 M-S 92 93 9212,1'1y '12
9212 96
5 7712 8112
78
2004 34-S 7712 78 78
1st & refund 48
9212 9212
4 87 8914
Registered $5,000 only_g1992 M-S ___ ___ 0212 J'ne'12
8734
86 8712 8712
Gen sinking fund 4 Hs
1936 J-J
---- 89 Feb '12
8958 8958
General 48
1055 J-D
76 78
84 78 J'ly '12
St Louis Div 1st ref g 48_2001 A-0
2, 99 19018
100
orfolk Sou 1st de ref A 5s 1961 F - A 9978 Sale 99
10538 10538
10538 Mch'12
Dal & Wa 1st gu g 55_
1940 ftl-N 16E5-8 _
1.2
Apr
10234
10212
ort
10234
&
41-N
10334_._..
91
9012
South
1041
5s
1st
gold
J'ne'12
01
Kan C & Pao 1st g 4s_ __ J990 F-A
-- 1113-4
12332 12518
orf & West gen gold 68_1931 111-N 12112 ___ 12518.1'1y '12
108 110
4 10834 108 J'iy '12
Mo K do 13 1st gu g 5s
1042 A-0 1073124 12638
Improvement & ext g 63_1934 F-A 124 12558 12412 May'12
M K de Ok 1st guar 53_1942 M-N ___ 105 10534 J'ly '12 __ 10514 10712
124 124
124 May'12
New River 1st gold 0_1932 A-0 122
12 101 104
102
MK deTofTlstgug 58_1942 M-S 10112 10312 10134
98 9978
98
N & W Ry 1st cons g 48_1990 A-0 _ --9812 08
102 1037g Feb '12 ___ 10334 1034
Sher Sh de So 1st go g 53.1943 J-D
1996 A-0 96 ___ 98 Jan '11
Registered
10378 10514
Texas & Okla 1st gu g 53 1943 34-S _-_ 105 10378 Mch'12
11)
4 94
-g13
9238
9134
-J
Div'l
92
J
1944
Sale
1st
I
10614
__
'12
&
10818
4s
g
gen
J'ne
10638
Missouri Pao 1st cons g 63_1921 M-N _ l051.•
10712 11634
10-25-year cony 4s.,,,,_1932 JD 116 11612 11634'fly '12
17 0834 10034
99
Trust gold 53 stamped_ _a19 17 M-S 99. Sale 99
108 11612
J'iy '12
11534
_...
____
---mt.10-20-yr
May'12
97
97
pd
cony
97
full
4s
98
97
S
a1917
Registered
91 94
02
Pocah C & C Joint 43_1941 J -D 9118 92 92
9773 10034
1st collateral gold 58____1920 F-A 97 100 98 J'ly '12
- 10638 10638
C C de I' 1st guar gold 53_1922 J-J 10014
10838 Mch'12
1920 F-A
Registered
9614
9812
9914
95
Selo
V
21
96
M-N
&
72
N
7038
43_1989
4
-E1E
72
Sale
g
go
1st
"ii
s
1945
40-year gold loan 45
101 987g 10034
orthern Pao prior I e 4s_ _1997 Q-J
9834 Sale 0813
90
0612 May'll
ad 75 extended at 4%.1038 rif-N
8712 12 81 -803;
Registered
1997 Q-J -__ 9634 9814 J'ne'12. _ 9814 9912
S 8012 87 87
1059
1st & ref cony 53
92 92
General lien gold 3s_ _ _a2047 Q-F 69 Sale 69
6918 14 6834 7018
92 J'ly '12
Cent Dr Ry 1st go g 4s 1919 F-A 92
68 68
a2047 9-F 68 Sale 68
81 81
68
Registered
Cent Br U P 1st g 4s_ _ _ _1948 J -D 75 80 81 May'12
St Paul-Duluth Div g 48_1995 J -I? 9513 ____ 96 J'ly '12
96 9612
_- 110 riich'05
Leroy &CVA L 1st g 53_1926 J-J
100
100
Dui
'12
J'ly
-b
100
10012._
'12
1
3
-0713
Short
53_1916
J'iy
98
L
9412
93
1st
gu
F-A
Pao R of rifo 1st ext g 48_1938
11514 11512
St P de N P gen gold 68_1923 F-A 11538 116 11538,1'1y '12
2d extended gold 5s _ _ _1938 J -3 102 105 10812 May'll
1
A 10
-F
p5 Q
434 ---- 11538 Aug'11
,
10158
33
_192
ereD
lu
duc
ertthiflIcsa
1663-8 stRreaguisltaG
8-9
tty
StL Ir M&S gen con g 5s_1031 A-0 104 10412 10158
107 107
---_ 107 Jan -12
111 Sep '09
Gen con stamp gu g 58_1931 A-0
2d 5s_
1917 A-0 10234_.,__ 10234 J'ne'll
10 -fi 8234
3
7,
7,3
7834 79
Unified & ret gold 4s_1929 J-J
Ws; 94
1st consol gold 4s
1968 J-D 9134 _ 94 J'ne'12
80 Mch'12 -. 78 80
Registered
1929 J-J
Wash Cent 1st gold 4s_ 1948 (4-M 8958 ____ 9118 Apr '11
8334 11 8212 89
fly & G Div 1st g 4s_ _103 31-N 8313 Sale 831.
11112 1113j
or Pee Term Co 1st g 09-:1933 J -J 111 ____ 11112 rly '12
_ 10212 Jan '10
Verdi V I & W 1st g 5s_ _1926 34-S
9138 11 91 9234
0regon-Wasb 1st & ref 48-.1961 J-J
91 Sale 91
11013 & Ohio new gold 63..„1927 J -D 118 11058 11914 "91
10312 104
lacific Coast Co 1st g 58_ _1946 J-D 10358 1048 104 J'ne'12
1153411534
if5
4 l5
631-4
iff
1st extension gold 63.....h1927 Q-J 11414 117 11534 Feb'd
10014 102
enna RR 1st real ell g4s_1923 MN 10014 10134 10038 J'ne'12
1 85 8734
85
General gold 4s
1938 34-S 85 Sale 85
110
108
Mch'12
Consol
110
gold
M-S
1919
108
55
11034
10813
_-.
'12
J'ne
10812
10712
10812
Montgom Div 1st g 58_1947 F- A
Consol gold 48
1943 M-N ____ 10234 10234 Mch'12- 102 104
83 8358
St L & Cairo colt g 4s., _e1930 Q-F 8212 8356 8338 J'ne'12
3 9912 10018
9916
Convertible gold 3 3,38_ _ _1912 3I-N 9978 10018 9978
9312 bich'll
Guaranteed gold 45....1931 J -J
971, 293 9634 977S
Convertible gold 3 Hs_ _o1915 JD 0714 Sale 97
10234 101
Mashy Ch & St L 1st 7s 1931 -3 10212 103 10234 J'ly '12
97 'J712
o1915 J-D 96 ____ 97 J'ly '12
Registered
10034.1'1y '12
10032 10034 Consol
LI 1st consol gold 55
1028 A-0 10334
10212 10418
gold
4
1073
M-19
1948
43
104
10358
10334
1157
8
Nov'10
-J
114
J
Jasper Branch 1st g 63_1023
0958 9958
90.34
9013
3
111-S
095
Val
Alleg
1942
9934
gen
4s
g
guar
10034
10734 Mch'12
rifeM IM W & Al 1st 63_ _ _1917 J-J
_
D 11 R 11 & Bge 1St gu 4sg1936 1-A
113 J'iy '04
_1917 J-J 10634
T & P Branch 1st
jai
fol-7g
W
May'12
&
Balt
Piffle
1st
M-N
02
_1943
4s_
g
99•____
'12
J'ly
8934
91
J
-6117
-J
4 H3.1957
63__Nat Itys of Mex pr lien
--- _
Sod Bay & Sou 1st g 5s_ _1924 J-J ....__ 102 Jan '03
,
9
8
212 10
80
612
1977 A-0 83 84 83 J'iY '12
Guaranteed general 4s
VO
Sunbury & Lewis 1st g 4s1936 J -J
9834 --- 09 rifeh'12
Nat of Mex prior lien 4 Hs_1026 J-J
for faili
U N J Mt de Can gen 4s_ _1949 Al-S 101 -- _. 10112 Stay'12
7812
7734 80
1051 A-0 78 80 7812
1st consol 95
10314
103 104
enna Co guar 1st g4 3s._.,1921 J-J 103 10314 10314
6 8014 95
8914
- 8914 8914
N 0 Mob de Chic 1st ref 58 1960 J -J
103 103
1921 J -J .1021g - _ - _ 103 Mch'12
Registered
NO &NE prior lien g 6s_p1915 A-0 id 106
'12
Apr
8812 8914
8914
Hs
3
Guar
M-S
1937
-4
883
colt
reg
trust
J-J
.3
877
4s...1953
Term
1st
878
New Orleans
88 8834
Guar 3 Hs coil trust ser B.1941 1F-A 88 ____ 8834 May'12
8738 29 8612 881;
8714 8738 8678
N Y Central & U It g 3 Hs_1097 J-J
9712 9814
Trust Co certfs gu g 3 34s_1916 31-N 9713 __ 9758 J'ly '12
8714 J'ly '12 ".... 86 8714
8612
1997 J-J
Registered
88 13.814
Mch'12
83
Guar
__
-D
3
9614
J
Hs
_1942
9214
3
.
2
.
.
9334
trust
C__
ctfs
9318
11-N
0318
Sale
1931
Debenture gold 4s
8734 8734
Guar 3 Hs trust(Ars D
1944 JD 8612 ___ 8734 Jan '12
93 May'12.
93 93
1934 M-N
Registered
96 9812
Guar 15-25 year g 4s
1931 A-0 96 96114 96 J'iy '12
8078 85
8073
8 8114 8118.1'1y '12
Lake Shore coil g 3 Hs._ _1998 F- A 807
'11
Dec
9612
____
Lcb
-N____
1
3
do
_1942
Cin
7912
Nor
_
g_
45
gu
7912
70 84
A 7912 8114
1998
Registered
Cl & Mar 1st gu g 4 Hs 1035 M-N 103 105 110 Jan '05
7818 8212
A 7838 7938 7938
7934
Mich Cent coil gold 3 Hs..1908
CI & P gen gu g 4 Hs ser A 1042 J-J 105 106 10734 Dec '11
7712
79
9
7838 J'ly '12
73
914
7,
148 9
_1098 I.- A
Registered
1942 A-0 105 ____ 10934,1'1y 09
Series 11
9834 __ 9918 J'ne'12
Beech Creek 1st gu g 4s-1936 J-J
lot reduced to 3 Hs _1942 A-0 9114 ____ 9114 Feb '12
9114 9114
99 May'll
9718
1036 J- J
Registered
9114
May'12
9114
9114
9114
M-N
1(148
Series
C
3348
J-J
107
2dguar gold 5s
1036
1950 F.-A 911492-: 90 May'08
Series D 3 Hs
Registered
1936 J-J
911 Wig
Erie & Pitts gu g 334S 1J_1940 J -.1 8934 9214 9112May'12
Beech Cr Ext 1st g 3 3s_01951 A-0
0018 901g
Series C
8934 ....• 9018
9018
1940 J -J
.1-2 Ap-r-V3
7
-5.
Cart de Ad 1st gu g 43_1981 J -D
104 105
Grit & I ex 1st gu g4 10_1941 J-J 104 10478 104 J'ne'12
Gouv de Oswe 1st gu g 53_1942 J -D 103 22.
100 10114
Pitts Ft W & C 1st 7s_ _1912 J-J _____ 100 May'12
56'18 mch 11
Moh & Mal 1st gu g 4._l09[ M-S
2d 7s
0378Feb '11
1912 J-J
NJ Juno It guar 1st 4s.,.,10$6 F-A -66" 2::_ 105 Oct '02
3d 78
h1912 A-0_ _-_ 01 Dec '11
1046 F-A
Registered
Pitts Y de Ash 151 con 58_192'7 M-N 10758 ____ 109 Mar10
8858 8•3
N Y & Harlem g 3 Hs.„.200; 111-N 8314 --:: 83 May'12
is51(1
Tol W V & 0 gu 4 Hs A_ _1931 J.-J 10178 ___ 10218 J'ne'12
2000 hl-N
Registered
-Series II 4)0
1933 ..4 -J 10112 ___ 00 J'ly '10
107 Rig" Oct-.65
N Y de Northern 1st g 53_1927 A-0
C
Series
48
1942
9512
31-S
'54:
4
06'11
Aug
A-0
9778
451993
N Y
Pu 1st cons gu g
(0414 10684
10414
P C C & St L gu 4 Hs A 1940 A-0 10414 10538 0414
' Nor & Mont ist gu g 53 1016 A-0
1942 A-0 10414 100 10434.1'1y '12
Series B guar
,0134 107
13112 Jan '09
Pine Creek reg guar 6s..1932 J -D 12034
194285-N
104
'11
J'ne
104
107
guar
C
Series
10634
10034
10734
'
12
• R W & 0 con 1st ext 5s.h1022 A-0 10634
- 101 J'IY
97 99
1945 31-N 97 ____ 1/712J'ne'12
Series 1) 45 guar
Mch'12
lot 101
09We & 1628 gu g 5s_ _ _61015 F-A
9312 9312
Series E 3 Hs guar g.,.,.1949 FA 9478 9612 9312 Feb '12
• R W &0T
1st gu g 53_1918 M-N 1063.-4 107 104 J'ne'10
97
97
'12
J'iy
1953
J-D
9612
Mch'12
97
9814
Series
g
4s
gu
F
--9712
-6614
0638 --Rutland 1st con g 4 Hs.. _1941 J
97 99
1957 34-N 9612 99 97 J'ly '12
Series G 4s guar
84 86
8412 88 8458 J'ly
OgdeLChain 1st go 43 g 1998 1.1
0 St L & P 1st con g 5s_ _1932 A-0 11034 _,,.. 11312 Nov'll
-- 92 J'ne'00
Itut-Canag 1st gu g 4s..1949 1921 Q-r 10612.... 100 May'll
eo & Pek tin 1st g 63
St Lawr & Adir 1st g 5s_ _1096 J -3 10712 ...... 115 J'ne'09
2d gold 4 Hs
51921 M-N 90 99 9312 Jan '11
1191211913
11912 Mch'12
2:1 gold 6s
1996 A-0 109
4 6034
-663ere Marquette-Ref 43._1955 J-J ___ 56 6034 Apr '12
9978 Noy'll
Utica & Illk fly gu g 48_192,2 J-J
3 54 54
54
1955 J -J __ 54 54
Refunding guar 43
1 371', 8973
8812
Lalto Shore gold 3 Hs__ _ _1907 J - D 8812 Sale 881.
9958 9%
9958Feb '12
1021 J -D
& W M 45
Registered
8714 8834 Ch
1007 -I) 8712 8818 874 J'ly '12
108 108%
1020 A-0 -------- 0838 May'12
Flint & P M g 6s
9358 13 9314 9412
Debenture gold 48_ _1928 M-S 0358 Sale 9338
9812 100
1st consol gold 53
1939 ,11-N_ __ 9812 Apr'12
25-year gold 48
9314 64 93 9378
1031 31-N 93 Sale 93
9712 May'12
Pt Huron Div 1st g 55_1939 A-0 90
9712 9712
92118 9312
Registered
•
1031 111-N
9258 Apr '12
Sag Tus & II 1st gu g 45_1931 F-A
.__
Ka A & G lt 1st gu o 58.1038 J-J
8414 88
hilippine Ity 1st 30-yr s f 4s_'37 J - J .... 8612 86 May'12
Mahon C'l RR 1st 58_1934 J-J 11012 --- jiff, M 7
11
113 11314
Ms Sh & LB 1st g 53_
1940 A-0 111 113 113 J'ly '12
105 105
Pitts dc L Erie 2d ,r 5s_ _a1928 A-0 10514 _ 105 - Apr'12
158
Nov'll
-J
J
gold
1943
consol
1st
11314
1st
Y
&
McK
gu
'09
68_1932 J-J 121 _ 1301 Jan
Pitts
4
1997 J-J
)eading Co gen g 43
9738 Sale 9714
12314 12314
9734 201 -671-1 -92731939 J-J 121 ___ 12314 Mch'12
2d. guaranteed Os
9734 9814
08 Apr '12
1997 J-J 9612 _
3, Registered
rileKces & B V 1st g 68_1918 J-3 108
_
9812
8
A51
967
9678
0
9678
_19
g
coil
_
Sale
4s_
0678
Cent
Jersey
111
111
1931 M-S 10812 111 111 Jan '12
Michigan Central 53
93
1951 J -J
Atlan City gu 4s g
1931
'Registered
10712. .119 J'ile'06
86 8912
87 90 8712J'1y 12
1947 J -J
,,t Jo & Gr 1st 1st g 4s
1940 51-1 "..-- 66 98 Apr '12
43
08 98
118341195g
'IL &San Fran gen it 65_ _1931 J-J 11834 12017 11834 May'12
Registered
.1940 J-J
9812 Nov'11
1051.,
10512 10812
1931 J-J 10512 Sale 10513
General gold bs
J L & 8 1st gold 3$s1051
S
- 90 J'ne'08
88 8814
85 8612 8818Feb '1
1952 111-N 87
1st gold 3 Hs
StLSGSF 1111 cons g 4s_1906 J-J
. 8613 rifch'12
- -561-2 -863-4
87
8634 8812
1927 11-N 8634 87 87
Gen 15-20 yr 5s
20-year debenture 4s_ _1929 A-0
2 8014 02
9014
1i614 9014
Southw Div 1st g 53_1947 A-0 9914 ____ 100 Oct '11
N Y Chit: &St L 1st g 48_1937 A-0 9:,78
11938 10058
- 100 9938 J'ly '12
-7734 8114
1951 J -J ___- 7934 78
1937 4-() 98 ___ 9934 Mch'12
7819
Registered_
Refunding g 43
99 9034
8034 Mch'll
1951 J-J
RocrIstered
--- 1031 M-N 89 891•. 00 J'ne'12
Debenture 4s
8912 91
BONDS
N. Y. STOCK EXCHANGE
Week Ending July 26.
•*o
Price
Friday
July 20
:
-
MISCELLANEOUS BONDS-Continued on Next Page.
Uas and Electric Light
Kings Co El L & P C
1097 A -O
Purchase money 6s
1922 34-S
Convertible deb 65
Ed El II film 1st eon g 48_1039 J-J
Lac Gas L of St 1st g* 93- "
1934 V)
?
Ref and ext 1st g .58
M-N
Milwaukee Gas L 1st
1948 J-D
Newark Con Gas it Os
19411 J -D
NY (1 EL 11& P g 5s
1949
Purchase money g 4s
Ed El III 1st cons it 5s _ _1995 J -J
NY & Q El L&P 1st con tr 58_1930 P-A
N Y & Rich Gas 1st g 5s_ _ _1021 Al-N
Pacific G & El Co Cal G & E
Corp unifying & ref 58..1937 M-N
Pao Pow & Lt 151 & re( 20-yr
1930 F -A
53 Internal Serbe
Pat & Passaic 0 & E 59_ _ _1949 11-S
Gas and Electric Light
10412 10512 Peo Gas & C 1st con g (1s_1943 A-0
101 10412 10412 J'ne'12
1947 M-S
Refunding gold 5s
115 11734 117 J'ne'12
11512117
1947 34-S
12512 _ _ 11818 Dec '11
Registered
Ch G-L & Cke 1st gu g 5s.1937 J-J
8812 Deo '11
1936 J -D
5s
g
gu
1st
otCh
i611; 103- Con G Co
1.02 J'iy '12
8Ind Nat Gas & OD 30-yr 55 '30 rif-N
10112 1/i 10112
10112
1 10034 102
Mu Fuel Gas 1st jug 53_ _1947 M-N
0018 0112 9058 J'ne'12
8978 9058
1947 M-N
•
10538
Registered
10014 10614
10614 Apr '12
Philadelphia Co cony 55...._1919 F- A
10312 Sale 10312
-10414
10358 -a7) 10234 8858 89
8858
883.1
6 8814 8912 Stan Gas& Eke cony sf 63_1926 J-D
112121131$ Syracuse Lighting 1st g 5s_1951 J -D
11318 Mch'12
1954 J-3
101-3;fa.- 10212 rifeh'12
102 10212 Syracuse L & P 5s
_- 'Fronton G & E 1st g 55_ -.1949 M-S
9212
--.J'iy '09
Union Eke L & P 1st g 58_1932 M-S
1933 M-N
9534 96 9558 96 38 94 9638 Ref & ext 5s
Utica El L & P 1st g 5s_ _ _ _1950 J -J
1957 -.1
95 Sale 04
Utica Gas de E ref 53
95
12 0312 95
_ 10258
12212 _
10238 1025, Westchester Light'g g 5s._ _1950 J -D
10234
No•
No
price Friday; latest bid and asked. a Due Jan. 5 Due Feb. e Due May. g Due June. 8 Due July.
117 117 J'ly '12
1.6134 10134 10158
102
103 Feb '09
Miry i017-8 10278
103
10112 103 103 Ply '12
_ 90 93 Mch'12
14 - - 10114 Mch'12
i'56
- - - ---109 166 Feiii
10012
__- Sale 10012
10012
10012 __ 101 Dec '11
8534 8612 8512 J'ne'12
103 _ 109 Feb '01
100 ___ 101 Apr '12
97 9718 97 J'ly '12
103
10014 Dec '11
103
jai; i(W1, 105
11614 11712
10153 10212
icii1-2 10413
10112 103
93 93
10058 10114
107 109
I 100 101
8512 86
101
_hoi
9612 9812
11544 10534
o Due Oct. p Duo Nov. s Option Bale.
226
BONDS
N. Y. STOCK EXCHANGE
Week Ending July 26.
New York Bond Record-Concluded--Page 4
E
PriceWeek's
Friday
Range or
.1 aim 211.
Last Sail
Range
Since
Jan. 1
43
gc%
al
N
BONDS
•
,y. STOCK EXCHANGL ‘E
Week Ending July 26.
-F.,.....
Prico
Friday
J. tY Al
Wrele.
Range or
Last Sale
79
h
rti
Range
Since
Jan. 1,
Bid
St L do San Fran (Con)
Ask Low
High No. Low High
Bid
Ask Low
High No. Low High
K C Ft S & itt con g 6s_ _1928 M-N 11-11411 , 1.134 J'ly '12
115 118
Wal,,
,
sihg1
osli go
5sld 55
1930 M-N 1 ,i12 _ _ 1008
10
10712
3 10412 10778
loll:
K C Ft S & NI IW ret g 43_1936 A-0 7818 Sale 7712
I. ",712 8012
784,,
19311 F-A 100 Sale 00
100
1. 110 10013
Reg'stered
1936 A-0
7712
771,
Debenture Series B _ __ _1939 J -J ____ 100 00 J'ne'12 ____ 00 100
7712 771.
K C & 1M it & B 1st gu 5s_1929 A-0
10014 Dec '09
1st Ilen equip s fd g 5s_ _ _ 1921 It- S 98 _ _._ 9814 J'ne'12 ____ 11814100
Ozark & Ch C 1st gu 5s g_1912 A-0 9934 9
9434
9,,34 21 -1;9-1q 100 1st lien 50-yr g term 451_1954 J-J
80
_83 Dec '10
St L S W 1st g 45 bd etts_ _1989 NI-N 0012 Sale 9012
2, 991. 9212
111
1st ref and ext g 4s
0814 Sale 68
1956 J -J
68,, 10. EE12 53i
2d g 43 Inc bond etts__p1989 J -J
83 J'ne'lf
81
Cent 'trust Co (Vs
8034 83
____ __ 7., 70 J'ly '12 --- 6438 71
Consol gold 43
2(
1932 J -D 8034 Sale 8034
79 8412
Do Stamped
8114
Gray's Pt Ter 1st gu g 5s1947 J -D 99 ___ 10118 Apr '07
Equit Tr St Co ctts
---- - --:
. -_-_-_-_ 5
J:n
n :12
8_ j
6
70
60
44
3 6
70
934
S A co A Pass 1st gu g 4s__ _1943 J-J
93 sais 84;12
8t,i:
Do'Stamped
__
6, Sale 61,(5
-1;614 8734
..(3
6, 6012 6052
SF & N P 1st sink f g 53_1919 J -J
9014 __ 104 Oct '09
Det & Ch Ext 1st g 53_1941 J--.1 10512 __ 10(118 May'12 ...._ 100 10'7
Seaboard Air Lino g 4s_ __ _1950 A-0 8714 Sale 8(14
87 873
Des Moin Div 1st g 4s___1930 J-J ...___ 811. May'll
8114
_
Gold 45 stamped
871,
1050 A-0 8712 Sale 87
Om Div 1st g 3 lis
8612 90
1941 A-0 7013 81
713.-1J'ly '12 ...„ 6812 7i34
Registered
1950 A-0
Toi & Ch Div 1st g 4s_ _ _1911 51-S
81118 J'ly '12 -- 7234 8312
Adjustment 53
01949 F- A 81 Sale if" -81371 8. 79 841 I,Vab Pitts Term 1st g 4s_ _ _1954 J -D -------- - ---31
3914
1 31
31
Refunding 4s
7912
1 7913 83
80:2 7912
1959 A-0 Cent & Old Col Tr Co certfs__ ---- 3114 ... _ 3134
321, 11 3114 9214
Ati-Birm 30-yr 1st g 4s_e1933 NI- S
8139 18 J'ly 'P.
Columbia Tr Co ctfs
87 90
-.- ,- -. 32
2 J'ly '19 --. 3114 4112
Car Cent 1st con g 4s
9112 93 9312 Apr '12
1949 J -J
20 gold 45
9234 931,
12 3
1954 J --I.)
134 J'ne'12 ..-I
213
Fla Cen & Pen 1st g 53
1918 J -J 10014 ___ 103 May'll
Trust Co cents
__
1
214 238 J'ne'12 __-178 3
1st land gr ext g 5s
104 May'12
1930 J - J 102
1(.4 104 Wash Term! 1st gu 3 443_1945 -F---A 83 ___ 873
8 Oct '11
Consol gold 53
1943 j-J 106)4 107 107 J'no'12
1st 43-yr guar 4s
107 107
1945 F-A 9718
Ga & Ala Ry 1st con 5s_o1945 J -J 10613 10738 10194 J'ne'12
_ 10534 10714 West Maryland 1st g 4s_1952 A -0 :0.2 Sale 86)2 Mehl. --,- 9718 0718
Nate 86,2
8615 6'-' 86(2 8814
Ga Car & No 1st gu g 55_1929 J-J
105.8 10512 May'12
10512 10534 West N Y & Pa 1st g 5s
1937 J -J 10,18 107,14 0718
1071T
2 10718 10834
Seab & Roa 1st 53
1926 J -J 101 10612 105 May'12- 105 10618
Gen gold 95
1943 A-0
•
8714 Apr '12 --... 8714 8,812
Southern Pacinc CoIncome 5s
d1943 Nov ---- -------34 Feb '07 --_
Gold 4s (Cent Pac coil) _k1949 J -D 00 9014 00
9014 IC 90 0212 Wheeling do L E 1st g 5s___1926 A-0 ,..,... 104): 0412
1011:
4 i,6612
1 i6.11Registered
91 J'ly '12
k1949 J -D *80 91
Wheel Div 1st gold 59_1928 J -J 10114 104 1(1218 Nov'll _-_ _______
91 91
9412
20-year cony 43
S
Sale
9413
83
9438
g1929
Eaten & Imp gold 5s
9438 97
_1930 F-A 10114 103 102 J'ne'10
Cent Pac 1st ref gu g 4s_ _1949 F-A 953s Sale 95
9538
RR 1st consol 48
95 97
84 J'ne'12 -__ 8214 -8512
1949 11-5
0412 fly
Registered
_ 9413 941,
1949 F-A 9312
20-year equip s t 5s
1922 J-J ----------9812Feb '11 ......
Mort guar gold 3 0is_k1929 J -D 9068 9134 9038 J'ly '12
9012 9112 Winston-Salem S 131st 4s_ _1960 J -J
outs 9114 92 J'ne'12 --- 9134 93
Through St L 1st gu 48.1954 A-0 01 931: 91
91
1.10
9278 WIs Cent 50-yr 1st gen 4s_ _1949 J-J
91/9 29. 91 9338
9178 Sale158
G II & S A M & P 1st 53_1931 M-N 10538 10518 10512 J'ne'12 __-- 10512 107
Sup&Dul div & term 1st 4s '36 M-N
1/0.58 911: 11034 J'ne'12 ---- 9034 0212
10112
M-N
Gila V G & N 1st gu g 5s_1924
104 10218 J'ly '12 _-. 10218 10434
Hous B & W T 1st g 5s 1933 111-N 10334 1017 109 J'ne'12
104 10418
Manufacturing and Industrial
10334 105 10414 May'12
1st guar 5s red
1933
10414 10414 Allis-Chalmers 1st Is
1936 J-J
61
60 6034 61
1 52 6714
H 3: T C 1st g 53 Int gu 1937 J-J 10914 -___ 10938 May'12
Trust Co ars
10958 110
_ 59 591, 5915
11 6014 62
601
Consol g Os int guar1912 A-0
107128ep '11
Am Ag Chem 1stdeposit-c 5s
1028 11-0 10158 Sale' 10158 102
3/ 10112 10234
Gen gold 4s int guar 1021 A-0 94
951. J'ly '12
0413 951. Am Cot 011 ext 45s
1915 14-1° 0/12Sale '0112
9818 11 98 9812
•
Waco &N W dIv 1st g 63'30 M-N 114 118 11914 Mch'10
Debenture 5s
iiiis 95 J'ne'12 --- 9412 0613
1931 51-N
:• A &N W 1st gu g 5s
1041 J -J 106 108 10712 Feb '12
1.671-2 1671-2 Am Hide & L 1st s[S 6s
4 Sale 10034 19014
1919 N1-S 10031 9818 10034
Morgan's La & 'I' 1st Is...1918 A-0 111
__ 11212 Sep '11
Amer lee Sccur deb g 6s
7934
1925 A-0 79 71t,f, 7934
1 7212 82
1st gold Os
1920 J-J 10812 1101: 111 Mch'll
Am Smelt Securities s t 6s.._1920 F-A 10438 Sale 10438 1017. 56, 10212 10514
- Am
N Y Tex & M gu 4s g_ _ _ _1912 A-0
Spirits Mfg 1st g 6s
1915 M-S ____ 100 100 J'ly '1 • --- 100 101
No of Cal guar g 5s
A-0
Fera7
1938
7
- 112
Am Thread 1st col tr 4s_ _ _1919 J-J
94 ____ 91 J'ly '12 -. 9258 95
Ore & Cal 1st guar g 53_1927 J-J
102 J'ly '11
Am Tobacco 40-yr g (3s
1944 A-0
12014
t21
6 11878 12113
po Pac of Cal-Go g 5s _1937
116 May'07
Registered
A-0 ---- -----12014 J'ne'12 ....... 11874 12133
- - - - Certificates
So Pac Coast 1st gu 43 g_1937 J -J 9113 ____ 90 J'ly '09
2
of deposit.
12014 May'12 ..
,____
---- ------------11878 12113
San Fran Tenni 1st 4s 1950 A-0
.. 9012 9018 J'ly '12
Gold 4s
1951 10-A 0612 Sale 9012
"tioi;
02
971
21
9178 971a
Tex & NO Sab Div lst g 6s'12 Nt- S 100
10034 Mch'12
Registered
10084 10034
F-A 0538 J'ne'l
8.
9214 9552
Con gold 53
1943 J-J ---- 105 10138 May'll
Certificates of deposit ---- -------------_ ___ 9814 May'12 -. 9178 96
00 Pac RR 1st ref 4s
9412 81 9414 95
1955 J -J 9414 Sale 9414
P Lorillard Co 7s tem'pry bds_ -- 12218 Sale 2218
1221
1 11938 12334
33
Southern 1st consol g 5s
1994 J -3 10712 Sale 10712 10758 21 107 10838
Os temporary bonds
--- 99 Sale 9813
991, 81 9118 9912
Registered
1994 J-J 105 ___. 105 Sep '11
Llgg &Myers rob(307s tpy bds ---- 12012
12038 1207; 33 11834 123
Develop & gen 4s Ser A..1956 A-0 7814 Sale 7814
781:
15s
temporary
78 7934
bonds
.2 0858Sale 9813
991
81 8934 9914
Mob & Ohio coil tr g 43 1938 NI- S 85 8611 8.5
1 85 8712 Am Writg Paper 1st s f 5s_1919 85
.1---J
9078 Sale 0033
907
9 8814 0078
Mem Div 1st g 4 %-5s._ _1996 J- J 10112110 103 May'12
Baldw Loco Works 1st 5s__1940 M-N 10378 ___.10334 1033
10814 111
1 1031.104
St Louts dlv 1st g 4s_ _1951 J-J
8934 90 8934 J'ly 11
Beth
Steel
1st
9014
ext
s f 55._ _1920 J -J
97
07 Sale 97
21 0312 102
8853
Ala Cen It 1st g Os
1918 J-J
Cent Leather 20-year g 5s._1025 A-0 9512 Sale 9513
10778 N ov'10
96
78
9134 9614
Atl & Danv 1st g 4s
Consol Tobacco g 4s
1048 J -J -381-3
9012 Nov'1
1951 F-A
97
97
1 9134 97
2d 4s
Registered
1048 J-J
8214 FebFob '12
8214 8214
1951 F-A ----------57 Nov.0 ..... ____ _AU & Yad 1st g guar 4s_1049 A-0 81128434 ___ _
Corn Prod Ref s I g 53
1931 Al-N 19.1 ___ 0678 J'ne'll ___ 9512 97Col & Greenv 1st 6s
i:6514 DeP-1-1
1st 25-years f 5s
1916 J-J 101
1934 111-N 05 9.53-4 96
06
9 94 9612
B T Va & Ga Div g 5s__ _1930 J-J
10778 May'12
10734 10314 Cuban-Amer Sugar coil tr 6s 1918 A-0 9612 Sale 9612
9012
1 96 9712
Con 1st gold 55
1956 N-N
111 - 110
110 11134 Distil Sec Cor cony 1st g 5s_1927 A-0 74 Sale 7334
110
741
46 7168 7814
E Ten reor lien g 5s
1938 Al-s ,105 1051; 10518 J'ly '12
E I du Pont Powder 4 30_1936 J-1) 8814 Sale 88
10518 106
8814 18 8478 9213
Ga Midland 1st 3s
1946 A-0 64 6711 6412 J'ly '12
Gen
Electric deb g 3 Ms
6.112 6-11:
1942 10-A
82, 8333 J'ne'12 ___ 82 84
Ga Pac By 1st g 63
1922 J-J 110 112 111 J'ly '12
10-yr g deb 5s
111 11278
1917 4-1) ---- ----150 Feb '12 ---- 15313159
Knox & Ohio 1st g 6s1925 J-J 11312 __114 J'ne'12
Gen'l Motors 1st lien 6s_
114 115
1915 A-0 100 Sale 9978 100
68 9812 10073
Mob & Bir prior lien g 58_1945 J -J 10458
10512
Nov1.0
_
Ill Steel deb 4 3(.;
1940 A-0 9034 ____ 9034
9034
2 9014 9234
Mortgage gold 43
7834
_ 78 Dec '11
1945 J-J
Indiana Steel 1st 53 (recta) 1952 M-N 10038 Sale10038 10U7s 97 10058 10158
Rich & Dan con g 6s
1915 J-J 101 10114 10412.1'1y '11
Int
Paper
10413
Co
1043.
1st con g Os 1918 F-A 10334 ......10312 1037; . 3 103 10434
Deb 5s stamped
_ 10.134 Apr '12
1927 A-0 10312
Consol cony s if g 55
104 10434
1035 J-J
90 Sate 90
90
2 8412 9178
Rich & Meek 1st g 45
71 Mch'll
1948 NI-N
Int St Pump 1st s f 5s
1929 Ni-S 9218 Sale 9218
023
4 9134 9312
So Car & Ga 1st g 5s
10234 J'ne 12
1919 31-N
Lackaw Steel 1st g Is
10234 104
1923 A-0 0612 0/ 0612 J'ly '1
__ 94 97
Virginia Mid ser C 6s
1916 111-S 10112
112 Oct '06
1st con 53 Series A
1950 A1- S 8012 Sale 8012
8078 21 77 8212
Series D 4-55
1
.
(1134
10414 J'n
1921 Al- S 10334
5-year convertible 5s_
1915 51-S 9334 Sale 93
9334 44 0012 9414
Series E 5s
1926 M-S 10,134 Sale 10;34
10534 iaif, Mexican Petrol Ltd cnv 6s A '21 A-0 98 9812 98
1U
08
2 95 100
Series F 5s
1931 16-S
38 ____ 105 J'ne'10
May'1205
Nat Enam & Stpg 1st 5s
1929 J-D 93 9358 9358
9338
1 93 9413
General 5s
1936 51-N 107 ____ 10814
108 10814 Nat Starch 20-yr deb 5s_ _ _1930 J -J 87 91
8914
8914
6 8914 8914
Va & So'w't 1st gu 5s_2003 J-J 108 __ 10812 J'IY '11
National 'rube 1st 58 rects_1952 .11-N ___ 100 9958
9978 39 9912 10112
1st cons 50-year 5s...1958 A-0 96 963 9634 J'ly '12
0613 1)734 N Y Air Brake 1st cony fis....1928 51-N 99 1004 9912
90
1
97 10114
W 0 & W 1st cy gu 4s
1924 F-A 9218 ___ 90 Mehl',
Ry Steel Spgs 1st s t 5s_
90 00
1921 J -J 9712 08 98
08
4 97 0814
West N C 1st con g Os_1914 J-J 10234 __ 103 May'12
103 1031: Repub I dc S lst&col tr 5s 1934 A-0 10314 ____104 Apr '12 ___ 10278 104
Spokane Internet 1st g 58..1955 J-J
103 10212 Apr '11
10-30-year 5s s f
1940 A-0 __ 92 92
92
2 9034 9333
cr A ot St L 1st g 4 tis_ _1939 A-0 ---- 10514 105 Mch'12
fog idi Stendard Milling 1st 5s_ _1930 31-N __ 8886
86
5 86 8834
1st con gold 53_1894-1944 F- A ---- 11112 11014
11034 11212 l'he Texas Co cony deb Os_ _1931 J -J 101-711034
8 Sale10112 10218 66 9412 10212
• Gen refund s t g 4s
95 96 9412 J'ne'12
1953 J -J
Union Bag do Paper 1st 5s....1030 J -J __ 9358 94 May'12...... 94 9412
06
94
St L NI Bge Ter gu g 5s_ _1930 A-0 10712
Stamped
_ 10712 10112
1930 __
931, 0414 J'ne'12 ____ 94
10712 1071.
9412
Tex & Pac 1st gold 5s
2000 J -D 108 10818 103
4 107 11012 U S Leath Cost deb g ils. _1913 51--N 10012 1011 10013 10011
10818
I 10012 102
2d gold Inc 5s
q2000 Mch 50 5018 50 May'12
US Realty & I cony deb g 53.'24 J-J
8913 00 90
50 50
90
6 8712 9012
La Div B L 1st g 5s
1931 J -J 100 ____ 9912 Apr '11
U S Red do Refg 1st g 6s
25 30 30 J'ly '12 -- 30 50
1931 J -J
W Min W dc N W 1st gu 5s_'30 F-A
10612 Nov'04
U S Rubber 10-yr coil tr 6s..1918 J -D 10118 Salo 101
10414 26 10334 105
Tol do 00 1st g 53
10814
1935 J-J 10814 foil., 10814
Registered
10318 Jan '1 ._. ___ _
1918 J-1/
10818 100'.
Western Div 1st g 5s
1073
4 J'ne'l'‘
1935 A-0 107 ____
10734 1073., US Steel Corp-Jcoup .._ _ 91963 NI-N 102 - Sale 102
1021
197 10134 10412
General gold 58
1935 J -D 10334 10.112 10334Xly '12
S t 10-60-yr 5slreg __ _aim 11-N ___
103 104
10218
102
4 10158 104
Kan & NI 1st gu g 48
1990 A-0 9012 93 93 May'12
Va-Car Chem 1st 15-yr 5s 1023 J -D 9812 Sale 9814
9134 93
9878 36 9814 101
2d 20-year 5s
J
1027
Ms 991/ 9912 J'ly
West Electric 1st 55 Dec 1922 J-J 102 10J4 102
981,4 991
10214 12 10114 10318
Tol P & W 1st gold 4s
J
1917
943e, 9412,n:15'12
95 Sale 9458
9518 53 93 9514
9314 9478 Westinghouse E & M s f 58_1931 J -J
Tol St L & W pr lien g 3 y4s_1925 J
- 851 8518 J'ly '12 ---_ 8518 8712
10-year coil tr notes 5s_ _1917 A-0 9678 98 9712 J'ly '1 ..... 9611 98
50-year gold 4s
1950 A-0 6112 Sale hill
6112
4 60 693
Coll tr 4s g Ser A
1917 F-A 68 75 7312 May'12 ---- 71
Telegraph
731:
&
Telephone
Tor Ham & Buff 1st g 4s_h1946 J -D 8934 ____ 8978 Apr '12
9012 Sale 0035
8912 931: Am Telep & Tel coil tr 4s....1929 J-J
0012 32 90 9118
Ister & Del 1st con g 5s 1928 J -D 105
_ 105 J'ly '12
Convertible 45
105 100
1936 Al- S 11438 Sale [1412 11438
1 10834 11938
1st refund g 4s
1952 A-0 8518 _ _ 8512 J'ne'12
8512 861, Chicago Telephone 1st 53_1923 J -D 0 ____ 192 .___
_ __ ___ _ __ _
Union Pacific-Goid 4s._ _ _1947 J -J 10014 Sale 10018
10038 71 100 10214 Commercial Cable 1st g 48_2397 Q-J
8212 Meti'12 ____ 8212 802
Registered
1947 J -J
9834 1001, 9978 J'ly '12
Registered
9914 10178
2397 Q-J ----------8312Nov'll
__ __
20-year cony 45
1927 J-J 10112 Sale 10138 10138 10( 10114 101
Keystone Telephone 1st 08_1935 J -J
82 __. 82 Feb '12 ____ 82 82
1st & ret 43
02008 NI-S 97 Sale 9678
9711 13, 90 9778 Nletropol Tel & Tel 1st s f 5s 1918 51-N 10214 103 0234 J'ly 'I: ___ 10234 103
Ore By & Nay con g 48....1946 J -D 94 Sale 94
9418 it. 04 901., Mich State Telep 1st Os_ _1924 F-A 9958
10018 J'ly '12 ..... 100 101
Ore Short Line 1st g 63_1922 F-A 11214 1121: 11212 11212 11 112 11334 N Y & N J Telephone 5s g_1920 A1-N -------10314 May'll ..... ___ _ _
1st consol g 5s
11018 1101: 11014 11014
1946
I. 11018 112
N Y Telep 1st & gen 5 f 4 is 1939 Nt-N 0918 Sale 9918
_993; 27 99 10078
Guar refund 45
93 Sale 93
1929 J
94
31 93 9534 Pac Tel do Tel 1st 5s
1937 J -J 10038 Sale 10013 1007; 55 9871007
Utah dc Nor gold 53_1926 J-J 10518
103 May'll
West Union col tr cur 53_1938 J-J 10112 10134 10113 1013
5 101 10312
1st extended 45
1933 J-J
Fd and real est g 4 30
1950 111-N
'3 981 9712
971
'7 9714 10012
Vandalla cons g 48 Ser A_1955 F-A 92 _ _ -15-65g hte-h-T2
-6(15-11 -1163-8
hut Un Tel gu ext 5
1941 51-N ---- ---104 J'ne'll ...... ....... __
V
Consol 4s Series B
1957
04 9611 94 J'ne 12 __. 91 9712
Northwest Ts:. gu 4 1.1:: g_1934 J -J
04- .... _ 9614 J'ne'12 ........ 95 11014
Vera Cruz & P 1st gu 4 143_1934 J-J
9934 9134J'ne'l?
9134 0134
--------651.611
11634::::.
,_
.-......
--
----
----
-__-
--
_.-
-__-
---
--
-...
•_
U
MISCELLANEOUS BONDS-Concluded.
Coal Cc Iron
Buff & Susq Iron s f 5s___ _1932
Debenture 58
a1926
S
Col F & I Co gen s t g 5s____1943 F-A
Col Fuel gen 65
1919 M-N
Col Indus 1st & coll Is gu 1934 F-A
Cons Ind Coal Me 1st Is.,, 1935 J -D
Cons Coal of Md 1st do ref Os 1950 J -D
Cr Riv Coal & C 1st g 6s_ _h1919 A-0
Kan &HC&Clstsfg 53_1951 J -J
Pocali Con Collier 1st s f 58_1957 J-J
St L Rock Mt & P 1st 5s.. 1955 J -J
Tenn Coal gen 55
1951 J-J
firm Div 1st consol 6s 1917 J -J
' Tenn Div 1st g 68
a1917 A-0
Cab C II Co 1st gu g (is__1922 J-D
,Utah Fuel 1st g 55
1931 )1-S
Victor Fuel 18t s t 5s
1953 J-J
ITa Iron Coal do Coke 1st g 5s1949 11-S
I
IL
__ 97 J'ly '12
91 Nov'll
99
9818 100 99
10634 1031. 10714 J'ne'12
80
80 Sale 80
___. 841. 85 J'ne'll
9312 937 91 Dec '11
10258 Apr '06
9734 09 98 J'ne'12
87 881 87 J'ly '12
8314
- 8334 83
ifii12 103 103 fly '12
10334 105 101 J'ly '12
10312 104 10338 J'ly '12
10312
110 Jan '09
97
- -8-6"
-95 Sale 05
95
97
98
1664
113714 10734
1 90
11
7212 82
- -
i
if3-4 9812
8112 891:
7834 8412
10218 10374
10313 1041.
103 104
- -_
i
80
05
86
9813
Miscellaneous
Adams Ex coil tr g 43
1948 /11-S
Armour & Co 1st real est 4 hs'39 J -D
Bush Terminal 1st 95
1952 A-0
Consol 55
1955 J -J
Chino Copper 1st cony 6s 1921 J - J
Irrigation Wks & D of A 4 yis '43 M- N
Inspir Cons Cop 1st Os (mots. __
Int Mercan Marine 4 Ms
1022
Int Navigation 1st s f 5s
1929 F-A
Mge Bond (N Y)see 2-4s_1900 A -0
Morris & Co 1st s f 4 40_1939 J-J
N Y Dock 50-yr 1st 4s
1951 F'- A
Nlag Falls Pow 1st 5s
1932
J
Refunding & gen Os____a1932 A-0
Ontario Transmission 5s
1945 51-N
Pub Serv Corp N J gen 5s 1959 A-0
Ray Cons Copper 1st cony 0.1921 J -J
Wash Water Pow 1st 5s
1039 J -J
8312 86
9134 Sale
89121)0
_ 9678
133 . -
6S
icii3-4 Sale
6434 Sale
7834 79
___ 8978
-82 821:
10073
86
86
913
0134
90 J'ly '11
9738 J'ly '1
130 J'ly '12
9318 Nov'll
1.0034
10718
0413
6434
7812
79
89 Apr '11
8038
8934
82
82
10178 J'no'1
9213 93 -01-2ra-0-'12
1.312 9:13. 9312 9334
125
125 Sale 125
102 __ 104 May'12
1 8212 88l
19 9114 9214
8834 92
97 99
116 150
23 1041i 1073.
21 63 70
16 78 8214
8913 -8975
2 82 8512
10012 10175
-9212 93
1f-3 9254 9414
11 112 130
10274 104
*No price Friday;latest bid and asked aDue Jan ciDue April eDue May pDue June hDue July
kDue Aug oDuo Oct dDuo Nov oDuo Dec sOptlon sale -
CHICAGO STOC Z
S7'1X'KS-HI0,1&S7' A V I)
Saturday
July 20.
Monday
July 22.
*30
*89
9412
243.1
*734
413
*30
34
*89
92
*9512
95
2412
25
81: *734
413 *353
17 *____
10
*45
10
50
3653
11634
*400
*130
49
*10134
*145
60
*91
*45
7 uesday
July 23.
10
50
74.3512 10
*45
50
3614
3658 3612 3718
11634 117 117 .11612
_ .400
-___
*130 138
- - .130
138 .4004(14 47
*48
50
102 102 .101
102
14512 *145 14512 14512
60
6012 *60
61
3C13
1171:
_
138
47
102
1451:
60
2-13
iio" 216" ,210" 213
139 13 4
140 *139 140
151:
151: *15
1512 *15
10612 191 4
4,156" 167" *106 107
100 100
*9912 100
*9912 100
*6412
65
65
65
6434 65
12112 12112
120 121
iii" 146- 4<145"
127 127 *127
117
*118 119 .118
*G5
66
*65
147
131
117
119
66
140
.12512
.____
4119
6.512
f4"i"
129
117
120
6534
SILK PRICKS
W,snesoay
July 24.
34
.30
*30
34
92
.89
*89
92
9712
971:
*96
100
25
25 '25
251:
81: *734 81: *734
*353
*353 4
4
17 ._- 17 .---
;55" "iTi" ;55" -62 - -511.2 -9-1-C,
60
*58
*58
*58
60
60
50
5013 5633 5038 *5014 501:
*210
*139
*15
417 a.s7
YOH kNGE-Stock Record-Dully, Weekly and Yearly'
]
Ti
34
92
931:
2513
b1",
4
17
"iii"
*45
10
50
:36
.11612
.409
.130
*46
.101
.145
60
36
1171:
_
138
4314
102
1451;
60
Thursday
July 25.
Last Sale
Last Sale
97
98
25
2514
Last Sat
*358 4
Last Salt
Last Se,.!,
•o121(1
Last Sale
Friday
July 26.
32 June'12
.11 July'12
97
96
2514 2514
7% July'12
*358 4
1812 June'12
1012 June'12
*912 10
50 July'12
3534 3534
;
1512 1-1-65'11612 1171:
Last Sale 105 July'12
Last Salt 135 Apr'12
48
4814
48
*46
102 102
.145 146 .1.4.5- 116-61
60
00
*60
Apr'12
Last Salt 17
;55" 91 *90 91 90 90
59 59 5814 5814 59 5914
5012 51.02 5013 5013 5012 5012
Lau Sal, 142 May'12
212 212
211) 213 .210 213
139 139
139 139
139 139
Last Salt 1434 July'12
*15
151:
Jan'11
Last Salt 78
10712 10712
10612 107
.2 167
1561
9958 9958
100
*91 100 *9934
6412 6412
*0412 65
*6412 65
12014 12014
12012 12012 12912 121
Last Sale 70 July'12
:;- 134 13412 131 134
137 c:i.
,12512 12.i .12512 129 .12512 129
Last Salt 117 July'12
.____ 117
119 119
.119 120 .119 120
66
*65
66
6512 651• *35
Last Silt .60 May'12
11518 I16572 11534 116: 11512 1164 11618 1-1638
;55- lif"
91
*90
91
01
9214 9212 *92
95
May'12
Last Sale 12
10234 1.
iiii- 10112 10158 10112 10112
62-4 15212 163" *10212 163""
10112 10113 *10112 103 *10112 103 ,10112 103 *101 103 .101 103
19512 19612
191 19214 192 19534 195 19734 19514 196
19114 192
124 1241: 125 125 .12412 126 .12412 126
*12312 124 *12312 124
33
33
33
*3112 33
3234 3234 33
Last -int; )4l July'12
95
*94
95
*94
95
95
*94
*94
10614 10; '13 10618 10814 10658 10634
10534 106
10533 10538 10512 106
285 285 .285 290 .285 290 .285 290
28212 2821: .28212 285
10812 1081.. •10813 109 *10812 109
10858 10853 109 109
*10812 109
16412 16412
165 165 .164 167 .164 167
*16312 106 *_. 167
Last Salt 112 May'12
_
-114
114
112 *114
13, 13,
114
112
78
113
114
114
6934 701s 6912 6912 6912 7012 7013 7018
7012 701: 7C58 71
11
11
.10
.10
11
*10
*10
11
11
11
11
*10
11.61-8
95
*90
()imago Bond ttecord
BONDS
CHICAGO STOCK
E.,..CHANGE
Week :nd•:ny July 26.
Interest
Period
Price
Friday,
July 26.
Week's
Range or
Last Sale.
li'ds
Sold
scuts
of the
Week
Shares
STOCKS
CHICAGO 3;TOCK
EXCHANGE
Range 10- Year 1912
Range lor l'revious
Year 1911
Lo an.
La,, Si
Highest.
Railroads
40 Apr 24
32 Mch 19
Chicago Eley Rya com___
Do pret
9334 Jan 20
99 l'14Y 11,
328 Chic ft ys part ctf "1"__., 85 J'iy 13 10438Jan 18
1,021 Chic Itys part ctf "2"
2412 J'ne23 38 Jan 1)
Chia Rys part ctt "3"
11 Jan 12
6 J'ne 13
312 J'iy 5
578 Jan 13
10 Chic Ilya part ctf "4"
21 May 1
18(2 Ma y21
Kansas City ay & Lt_100
5012 Jan 19
Do pref
100 4012 J'ne ii
1118 Apr 10
6 Sich23
60 Streets W Stable C L..100
Do pref
100 35 Jan 30 52 J'ne20
bitscel aneous
850 American Can
100
11(2 Jan 2 43 Mayll
Do pref
175
100 91 Feb 1 121 MaY11
American Radiator_ _100 325 Feb 1 405 J'iy
Do pret
100 131 Jan 1., 135 Apr 3U
59 Apr 11
210 Amer Shipbuilding
100 47 Mei L.
Do pre(
10414 J'ne 2U
40
100 100 Feb
50 Amer Telep & Teleg
139 Jan 11 14873 Sich 17
6612 May22
39 Mob 14
403 Booth Fisheries com
Voting trust ctf
50 Jan 1/
4312 Feb
Do 1st pre(
77 Mch14 95 J'ne 5
22
6553 May1:3
70 Cal & Chic Canal & D..100 49 Feb t
115 Chi° Pneumatic Tool_100 44 Mch13 5312 May 3
Chicago Teiepnone__ _100 13712 Jan 4 145 Mob 0
22 Chicago Title & Trust.100 184 Jan 4 222 J'ne20
474 Common w'th-Edison_IOU 13514 Jan 4 150 Mob 7
10 Feb 13
Corn Prod Ref Co com__ _
1713 Apr 26
Do
pref
do
100 103 J'ly 5 11134 Feb 5
177 Diamond Match
99 J'ly 17 10212 Mch 8
65 Hart Shallner & Marx pf
100 56 Jan I
6812 May27
183 Illinois 13r1cti
705 Internet Harvester Co__ _ 106 Feb 1; 12414 May20
67 May 1
71 Slay21
Knickerbocker Ice pref.
100 131 J'iy 26 16112 Apr :30
1,660 National Biscuit
Do pref
100 126 Jan 13 13034 May28
12
100 103 Itch 3 12018 May20
National Carbon
100 115 Feb 11 129 Jan 2
Do pre(
100
x 61 J'iy 2 x 6/ Apr 22
90 P.6citic Gas & El Co
Do
x JO May 3 x.65 Apr 23
rights
Do
preferred
---iLl People's Gas L&Coke_100 10312 Jan t 118 May25
30 Pub Serv of No 1.11 corn. z 84 Mity2:, x 9412 Apr 24
2.08 May I. r 112 Apr 24
Do rights
Do preferred
2100 May31 210712 Apr 24
120
30 Rumely Co, pre:erred_ __ x 9912 Apr 2, 2102 May 8
8,062 Sears-Roebuck com_100 140 Jan 5 19734 J'iy 24
1)0 pref
100 12112 Jan n 12534 J'ne 8
66
30,8 J'iy 18 :33 J'iy 23
175 Studebaker Corp coin__
9412 J'iy Is 9412 J'iy 18
Do preferred
100 9834 Jan 2 10014 Apr 4
2,127 SWilt&Co
15 The Quaker Oats Co .100 215 Jan 13 291 J'ne 10
100 10512 Jan 2 110 Jan 15
Do pref
115
213534 May 3 2168 J'ne 14
33 Union Caroide Co
2 314 May 8 z 6 May22
rights
Do
178 Jan 18
38 May 2
729 Unit Box Bd & P Co_100
5858 Feb 13 7234 Apr 26
1,675 United states steel corn_
14, Feb 7
It).fan 17
100
15 Western Stone
•
Range
for
Year 1912
High No. Low. 1110
Ask Low.
Bid.
91
x91
Apr'12
VI
J
Am Tel 63 Tcl coll 4s__1929 J
i .9158 9214
9178
9173
9218
1____
Armour 62 Co 413s___1930 J -D
8214 Apr'12 _-__ 18214 8214
Auto Eleo 1st Al 65_1928
9618 May'12 _-__ 79618 9618
Cal Gas & El unit &ref 55'37 A - N
5 10134 103
10214
10214
Chicago City ity 5s_1927 F - A 110214 102I
9153
88
8338
8858 8838
Chiceity&Conitys 5s.d1927 A - 0 7 88
97/s Sale
5 9733 99
9778
9778
Chicago Elcv By 5s__1914 J 95
90
__
June'12
io
92
9313
91
Chic Poe Tool 1st 55..a1921 J 9975 10158
10018
10014
1927
-A 110014 Sale
Chicago Itys 5s
97
90
(1534
96 June'12
Chic Rys 55...series "A" A - () ;
0614 9738
Jan'12
9633
Chie Rys 4s_series "A" A -0
8733 17 8618 9158
Chic Rys 4s _series "B" J - I) 7 87 14 873s 8714
9434 94 June'12 _-_- 9334 9518
Chlo Rys 45„series "C" ▪ -A t 94
Jan'12 _--- 100 100
100
-A
Chic Rys coil 6s_1913
7312 85
Chic By Pr in 51 g 48 _c'97 J - J : 7208 7312 7413 June'12
49
60
48
2 45
52
Chic By Ad) Inc 4s.c1927 slayi 615
10112 78 10078 10314
10118
10138 S:ile
Chicago Telephone 55_1923• 0738 0938
9J3 May'12 ___
Cicero Gas Co ref G M..1032 J - J 1.--.
6 10214 10334
10314
10318
Commonw-Edison 55_1943 M S 11314 Sale
Commonw Elea 5s.b 1043 ill - S ;102 102', 10212 July'12 ____ 10214 10334
9978 10031
Cudahy Pack 1st AI 55.1024 51-N /10038 10058 10038 Jul y'12
107 11014
109 July'12
109 100
Dia Match Con (lb 65._1920
x9038 9914
Gen Slot 0% 1st L notes '15 A -- 9934 Apr'12
r111114 101(3
Ind Steel 1st g 5s
1952 .58 - N
- 10114 May'12
1st g 65
Do
14128
210013 10053
Int liar 3-yr 5% g notes '13
- A :10014 10034 10053 Sfa-y;i
310518 10518
'is. M g 61_1928
10513 Apr'12
mid St.
Kan City fly & Light
9414 9414
9414 Apr'12 ____
1913
-N
Co 5s
8714 90
J
88 July'12
89
Lake St El-lst 55_1028 J
83
_
8212 8534
8212 July'12
Metr W Side Ni 1st 45_1938
- A :8112 82
83
2 82
82
1938 .1 Extension g 9s
82
82
10478
210478
____
Apr'12
551926
g
1st
Lt
10473
&
F -A
Mil El fly
95
195
J
Apr'12
95
(10 ref & cxt 4 %s_193I .1
do gen & ref 5s......1951
IT61-2
Ma.-y-'112
Milw Gas Lt 1st g 45_1927 A - N
1939 J -J
8912 9014
13-074 8034 July'12
Morrls do Co 4 %s
310034 10114
-N
10034 May'12
Nat Tube 1st g 5s__1052
10314 Apr'12
110314 10314
Nor Shore El 1st g 55_1922 A - () ;10273
710038 10038
10038 Apr'12
do 1st & ref g 5s1940 A - 0 ;10033
79718 9718
'37
-A
58
Apr'12
1st
Ill
o.
Gas
Nor Sh
__ 10014 10014
10014 July'12
North West El 1st 45_1911 A - S
9934 100
100 June'12 ---NWGL& Coke Co Is 1928 Q - II :-55T2
9812 21 9534 09
-N
98
19 13
Ogden Gas 58
19178 9218
02 May'12
Pas Gas & El ref g 55_1942 .1 100 May'12 ___. x100 10018
Pao T&T 1st col' tr 55_1937 J - J
1916 J -E) -CAT2
10033 Meti'09
---Pearsons-Taft 5s
9612 MO1'10 ---A - S 95
4.405
96
II - N
97
Feb'10
4.60s Series
9713
N
A
11
3)814 Nay'
4.805 Series ,
I
116 118l
116 May'12
Peon Gas L & C 1st 65_1943 A -0
__ 10158 10214
Refunding gold 55_1947 A - S 16j58
10173 July'12
.19234
_ ._34 10334
10318 10234 July'12 ---- 1112
Chia Gas L&C 1st 5s 1937 J -J
10218 103
10313 10234 May'12
Consum Gas 1st 553_1036 J -1)
10134 June'12 --__ 10112 10112
Mut'l Fuel Gas 1s1551947 St - N 10912
79634 100
9819 9812 June'12
Pub Serv Co 1st ref g 5s '56
7100 10014
10014 May'12
Sou 13c11T & '1' 1st st 53 '41 J - J
94 Sale
0614
2 91
91
91
South Side Bley 45s1924 J - J
110014
4 10014 10034
10014
10014
Swift & Co 1st g 54....1914 J - J
Tr -City By & Lt coil
9814
1923 A 198
9814 Apr'12
trust lien s r 5s
89
85
81
Apr'12
85
Union Nice (Loop) 55_1945 A- 0
100
S
•
8
2997
55-1922
May'12
100
g
1st
Gypsum
S
710212 10238
10212 Apr'12
V_S Steel 10-60-yr s f g 5s..
10119 103
10214 10134 July'12
Western Elea Co 55.-1922 J - J
Note-Accrued interest muss t)u added o all Chicago bon d prices.
Hiyhest.
21 J'iy
85 J'iy
80 Apr
2034 May
8 May
412 Mch
15 Sep
39 Sep
7 Dec
38 Nov
32 Deo
94 Nov
101 Aug
3773 Dec
1212 Aug
712 Aug
25 Feb
7212 Feb
1314 Feb
50 Jan
9 Jan
7673 Jan
265 Jan
12612 mei,
48 Nov
10612 Sep
13153 Aug
35 Apr
33 J'ne
60 Sep
4912 Apr
3912 Sep
115 Jan
15112 Jan
113 Jan
934 Oct
78 Jan
9212 Feb
100 Sep
4978 Sep
9914 Sep
1212 May
93 Dec
304 Occ
133 Nov
79 Feb
113 May
15214 J'ne,
5914 Mch
5734 Melt
8838 Dec
52 Feb
5512 Feb
141(4 Nov
180 Deo
13733 J'iy
15 Joe
78 Jan
11034 Nov
10334 Dec
70 Jan
129 May
11714 Jan
123 Jan
100 Aue
117 Sep
14212 Dec
130 Sich
120 Mch
120 Mch
_
101
Sep
10853 Jan
12334 Sep
116 Sep
19234 Jan
122 Meh
-9734 Sep
165 Mob
10212 Feb
101 J'ne
212 Dec
10712 J'iy
1 'Dec
5012 Oct
13 Dec
Jan
8178
b
n
••5 .i an
Cnicago danics and Trust, Companies
NAME
Outstanding
Stock.
(I)
Surplus
and
Profits.
(1)
Dividend Record.
In
1910.
Per- Last Paid,
In
1911. lod.
Jne30'12 134
4200,000 5193,131
American State
An Jan '11, 6
0
55,486
6
100,000
Calumet National
Q-J July '12,2%
10
21,500,000 9,191,143
Cont'tal & Comm Nat
Q-J July '12,4
16
16
Corn Exchange National 3,000,000 5,974,296
2,445 Beg. b usllay 31 '1 1,V.92,p1538
200,000
Douglas State
Q-J July'12, 1%
6
8
69,613
200,000
Drexel State
Q-J July '12,2%
10
10
472,902
600,000
Drovers' Dep National_
63. Q-J Apr '12,2
6
58,681
Eng.ewood State
200,000
12 Q-M July'12 43.(0
12
10,000,000 11,744,404
First National
12 Q-M Jne.30'12 23.4
10
211,855
First Nat Englewood
150,000
Priv ate Ba nk
561,772
Foreman Bros ti'k'g Co_ 1,000,003
,2
)
12
8
J July(
8
659,788
Fort Dearborn National 2,000,000
(V)
Hibernian Banking Assn 1,500,000 1,468,193 8+2
J-J July'12,5
154,312 10+15 10
400 000
Kaspar State Bank
220,784 Beg, b us Apr '11 V.92,p. 1004
200,000
Lake View State
271,883 Beg b us. Ma y'10 3e'.90,p. 1277
La Salle St National_.- 1,000,000
10
10 Q-M Jne29'12,234 •
547,088
Live Stock Exch'ge Nat 1,250,000
8
Q-3 July'12. 2
8
2,000,009 1,370,514
Nat Bank of Republic
Q-J July'12. 134
0
603,772
2,000,000
,National City
4
6 (4-3 July '12, 1
250,000
100,465
National Produce
61-3
7
80,397
200.000
State
Avenue
North
2,
ly 12
ulY
J lu
-j
Q
Q6
6
42,37v
50,000
North Side State Szt.v'gs
Q-J July'12, 134
4
5
38,966
200,000
North West State
23.3 ,
July'12,
Q-J
7
14:3,586
300,0(10
93.3
People's Stk Yds State6 Q-M Apr '12, 134
0
253,623
500,1109
w Prairie State
3,066 Beg. Is us Nov 1'11 V.93,p. 1235
200,000
Second Security
s6
433
Q-J July'12, 134
153,406
400,000
Security
Q-J July '12, 2
8
107,000
200,00
733
South Chicago Savings6
22,242
South Side State
200,00
3134 .
2,
Y 12
uly
J jJul
Q-j
Q
12
12
State Bank of Chicago- 1,500,000 2,270,812
8 Q-M Jne30'12,2
8
217,040
Stock Yards Savings250,000
6 Si-N May'12,3
6
140,642
Union Bank of Chicago500,000
Q-J July'12, 15(
0
6
100,000
12,176
Washington Park Nat_
50,000
41,610 None None Q-M Dee31'08,1H
Wendell State
8
Q-J July'12 2
w Central Tr Co of Ill_ 4,500,000 1,895,693
733
J-J July'12. 5
10
500,000
356,896 10
XIII° City Bk & Tr Co.
6
6
Q-J July'12 13.3
263,112
Chicago Say Bank & Tr 1,000,000
2
2:3
J(ily 412
J .1uly
8
12,031,511
Trust
u5,000,000
Chicago Title &
733
10
50,000
6
216,325
Citizens Trust & Savings
481,625 8+2 8+2 Q-J July '12,2%
600.000
Colonial Trust & Savings
_
Cont & Comm Tr 6: Say 3,000,000 1,375,874
170,836 -8- - - 833
200,000
Drovers Trust & Say_10 Q-M Dee 30'11,4
12
First Trust & Savings-- 5.000,003 1,804,597
b us Apr 311 V.92, p. 929
Beg.
14,850
Ft Dearborn Pr &Sav Bic
250,000
52,346 Beg. b us Apr zi'12 V.94, p.1030
200,000
Franklin Tr & Say Bank
233 Q-J July '12,2%
19fr,835____
GreenebaumSonsi3k &Tr 1,500,000
J- J July'12,3
39,539
200,000
Guarantee Trust & Say12
Q-J July '12, 3
Harris Trust & Savings- 1,500,009 2,112,847 ti4:8
b
Beg
Apr
1V.92,p1004
us
64,864
10'1
300,000
Trust-Home Bank &
q July'12, 4 •
Illinois Trust & Savings 5,000,009 9,464,116 16+4 16+4
7
78,813 11-13,i
200,0310
Q-J July '12,1Ii
Kenviood Trust & Sav_
60,828
200,000
533
Q-J Jne30'12,112
6
Lake View Trust & Say.
Q-J July '12,4
12
15
Merchants' Loan &Tr Co 3,000,000 6,573,016
Oct 291 OV.91,p1221
200,000
64,911 Beg. b
Michigan Ave Trust Co.
500.009
64,614 Corn b us Apr 10'1 1V.92,p1004
Mid-City Tr 62 Say dank
8
1,500,000 2,690,757
Q-J Jne29'12,2 •
8
Northern Trust Co
8
J-J Joe 2912,4
250,000
6
124,602
North-Western Er& Say
200,000
50,000 Beg. Is us J'ne i'11 V .92,p. 1537
Old Colony Tr & Say ilk
500,000
181,626
Q-J July '12,2
People's Tr & Say Bank
8
Q-J July 12, 2
8
300,000
286.872
Pullman Trust & Sav
N
61910
July'12,
Q
200,000
40,180
Sheridan Tr & Sav Bask
bus. dept
--enced
-355,831 03u;11
Standard Tr & Savings_ 1,000,00
3
July'12,
J-J
6
Say
&
200,000
49,796
533
Stockmen's Trust
1;00,000 1,436,542 k8+2 8+2 Q-M Jne29'12, 2
Union Trust Co
8+2 Q-M Jne30'12, 2
400,009
6
85,966
West Side Tr &Say Bli933 Q-J July'12, 234
97,048
200,000
73-3
Woodlawn Tr & Sav 13k
banks and June 15 (opening of business) for State.
' • Bid and asked prices; no sales were made on this day. 1 June 14 (close of business) for national
Stock all acquired by the Cont. & Comm. Nat.1
Institutions. I No price Friday: latest price this week. 5Sept. 1 1911. 11 Dividends not published.
are paid Q.-J. with extra payments Q-F. s
Dividends
Bank. a Due Dec. 31. b Due June. c Due Feb. dDue Jan. 1. k Also 20% in stook. q
V.93, p. 1235. t Dee. 30 1911. o 134 1
dividend of 50% was paid in 1911 on Security Bank stock, to provide capital for the new Second Security Bank.
1293, 957, x Sales reported beginning Apr1
p.
94.
V.
see
Trust
Central
Co.;
the
into
merged
be
• of this is a special dividend. W Prairie State Bank to
April 19 1912.
18. u Formerly Chicago City Bank. y Increase in capital to *5,000,000 to be voted on July 29; V. 94, p. 1739. z
BOSTON STOCK EXCHANGE-Stock Record, Daily, Weekly and Yearly
SHARE PRICES-NOT PER CEN7'UM PRICES
Saturday
July 20
anday
July 22
Tuesaau
July 23
IC'ednesday
July 24
Thursday
flay 25.
Friday
July 26.
4,10812 10834 10812 10812 *10818 10817 *10818 10834 *10838 1085; 10878 1084
*10234 10314 *10212 1034 *10214 10314 0103 10314
Last Sale 10272July'12
*217 218 *217 218
217 217
21412 215 *214 217
215 215
127 127 8126 12634 126 126
12612 12612
12634 127
126 126
*205
_ *204... *204
Last Sale 205 July'12
_ *205 210
08 W 08 -ii 9712 9812 9812 9834 9812 99
*97
98
•
297 *_ - 297 *
Last Salt 297 July'12
_ 297 •
297
*E3
13 .13
15
*13
.
Last Sale 14 June'12
*13
15
15
go
80 I *78
80
*78
*78
*78
80
80
*78
78
79
_
95
*
95
Last Sale 1218 Jan'12
958
*53 ____
_ *53
54
54
Ei
63
53
*..-- 1-60Last Sale 169 June'12
112
10912 10912
14.6612 1-1-0- *10912 110
*260.._
260 260 *261 271 *259
12512 1153 12512 126 ,
.12512 126 812512 126 *12512 126 *12512 126
-Last Sale 12512Ju1y'12
*125 126 1121 126 *124 126 *124 126
*85
86
833' *85
*85
8534 8534
85
86
83
86
*85
125 12512 125 125
*127
__ 125 125
125 125
19
- .123-19
*1312 1912 *1812 1917
1873 19
19
19
*19 194
7612 7612
7612 77
77
77
7612 77
77
77
77
77
13512 136
13512 136
13512 136
*135 136 ' 135 136
13512 136
Last Sale 13478July'12
Last Sale 206 July'12
iio- 1753 176 176 176 176
*175 iso 817512 180 *iii- 180
Last Sal( 59 May'12
33
•
53
*50
16814 1681; jai', 169 - 16732 16734 107 16734 167 16314 16958 16958
*0012 911. *9012 9117 *9012 911; *90.34 9114
Last Sale JO July'12
Last Sale 158 July'12
.156
*156
*156
8512 *85
8512
8513 -854 8318 -8518 8513 8518 *85
10012 10013 *100 101
*100 101 0100 101
100 100 *100 101
61
*10014
*4
*1834
128
122
14538
61
1001.
41.
19
128
122
1451:
8912
*81
*____
*738
*---• *14
297
8934
__-101
- - -1314
15
297
8914 -61-2
97
*95
22012 22012
*334 414
0100 103
• *08 100
•
•
, *93
' CO 163
*1534 1613
10512 10534
2812 2834
2912
*28
*2
214
207 2071:,
5178 5178
*29
294
7012 705'
11218 11238
6118 6114 6034 61
6018 6034
10014 10038 10014 10033 10014 10014
4
4
*4
412 *4
412
*1814 1812 18
*18
19
1812
128 128
128 128
127 128
*12112 12212 012112 122
12112 122
14514 14578 14512 14534 14578 14578
2712 2712
-6- 801.1 -gOis 893 8912 90 8914 8934 -8912 -Os;
*81
8112 8112 *81
8117 *8012 8112
*8112 82
101
Last Sale 10034July 12
.100 101 *---- 10034
.
3
733 738 *738 ____
*733
733 738 *i3
1314
13 1._ 13
Last Sale 1234 July'12
15 ;17
*14
*1434 15
15
1
*14
15
1434 1618
207 297
297 297 *295 300 *295 300
*295 300
180 18012 180 18134 182 18534 184 18773 18252 18434
8912 8912 8012 8034 8234 8934 8934 8934 8934 8934
*96
97
9614 9634 9612 9012 9612 9612
9512 053
221 221 *22012 221
221 221 *221
____ *221
__
Last Sale 02 July'12
*334 41: *334 412 *334 412
0100 103 +100 103
100 100 -*100 103
100 100
898 100
*98 100
100 100
*98 100
*93 100
150 150
15334 15414 15414 15512 155 153 *15312 15434
Last Sale 90 Me1212
162 16.
214 05i- 16212 16214 16214 16214 16214
1612 1612 *1512 1612 161. 1613 *183 17
10534 106
10634 10712
106 108
10534 106
29
29
*2812 29
2834 29
29
29
*2834 29
2912
291 *28
Last Salt 2912 July'12
*2812 204 *28
212
212 *2
*2
212 *2
Last Sale 2
July'12
207 20712 207 20712 207 20712 207 2074 207 207
5112 5134 5118 5112 5114 5113 5012 51
3012 5012
2912 2914 2938 29
2914
2933 2938 *294 2912 *29
7038 7014 7034
7038 7118 6912 7014 6933 6978 69
11212 11212 *112 11238 811218 11258 1121. 11212
6112
61
19014 10038
4
4
*1334 19
*12814 129
121 122
14512 14513
6114 6114
10014 10038
4
4
*1812 1834
01284 12852
12112 122
14514 14512
*15,2 f6-2116124
10533
•
812 812
838 838
512 558
512 512
46
40
404 46
8234 8378 38278 8314
3114 3114 3114 3138
618 638
Last Sale .45 61.1u1A
712 712
714 712
21514 312 *2
3
Last Sale 23 Feb'12
4113
1112
4118
7
41
-4
.
1
18
3
4
4034 4114
12--4058
.
-452 -4-318
7534 76
7512 76
7534 7614 7512 7534 75
7512 7512 76
524 324
523 525
520 520
520 520
521 630
524 628
*24
2412 *2312 2412 24
23
*24
25
25
24
*2412 25
3138 3134 3114 3158
32
3212 32
3238 3238 32
*.01 .05
Last Sale .06 June12
73 58
58
58
-Li58
57
5734 5734
512
512 512
512 512
*514 51
: *514 512 *5
1358 1353 1358 1358 133s 1358 ;i51-4 1352
1312 1334 1312 133.
12
1173 1178 1112 11722 1114 1114 *1114 12
11
1112
12
478 47
478 478
5
5
5
415te 4553e 4,310 5
5
64
534 54
5418 5514
5312 54
5412 5412 5412 5412 53
978 10
10
1018
91318 10
978 10
1018
10
10
10
314 32
32
3114 3112 *3114 32
32
32
32
3153 32
112 *118
*118
112 *118 112 *118 112
1
1
*111s 138
18
18
1712 18
• 18
18
1712 1712 *17
174 1714 1712
1912 *19
1912 1033 1938 *1834 1014 *1812 1914
01834 1914 *19
56
56
66
66
56
56
5534 56
56
56
8812 8812 8812 883i 8812 8834 48834 89
8834 8918 -go- W3512 3578 35
3534 35
3534 3514 3534 3512 36
3514 35
234 278 *234 278
234 234
273 278 *234
*234 3
*114
13.1 *112 134 *112 134 *158 134 *112 1.4
134 134
3512 3618 3512 3712 37
3614 371,1 3612 37
3714 3612 37
*67
8 718
1
*7
714
*678 714 *678 714
7
7 4 714
7
1358 1353 1353 1358 1312 1312 1314 1358 1312 1312 1312 1312
*6.58
7
7
7
*634
.7
7
7
*634
7
*634 714
1034 1014 1014
1034 *10
1012 1012 *10
1034 *10
1034 *10
29
2918 2914 2914 294 2934 2234 2912 2934 2958 2034
29
July'12
*214 3
*214 3
Last Sale 2
*238 212 *214 3
*683,t 69
69
6.1
60
69
09
69
69
*68
69
60
21
2034 2034 *2053 2073 2012 2073 2012 2058 2034 2034 21
312 312
*312 4
312 312 *312 4
312 312
*312 334
*712 778 *753 773
734 77s
773 778
734 71210
734
734
3078 31
31
31
3034 3034 3012 3034 3012 3078 3012 3012
*512 6
578 678
512 512
534 534 *512 534
*514 578
412
412 *114 44 *414 412
4.4 414
*413 434 *414 434
8
8
338 838
838 828
813 818
838 838 *818 812
5634 5034
57 *56
57
57
5712 5634 5634 57
5712 *50
117 118
117 118
11658 117
116 117
115 117
118 118
1812 1812 1812 1834
1858 1852 1812 1812 1834 187s 1812 1858
*9012 9112 *9012 9112 9012 9112
*9012 92
; 9012 9012 *01
92
• 21
21
21
2118 2034 2034 2034 2073 *2058 2078 2034 2634
314 314 *314 378
314 314
311e *318 338
314 314 '331e
1612 1634 1634 17
1634 17
1678 1733 1714 1712 1712 1734
*.60 .70
.70 .70
.60 .60
.61
__ .65 *___ .65
4712 48
48
4812 4712 471. 4714 4712 4734 4734 4712 4814
112 134
112 158
112 13
134 134 *153 134
158 134
41
42
41
42
43
41
4034 404 *41
4012 41
40
558 558
6
612 6
512
6
312 612
6
6.
314 33
314 338 *314 338
314 333 *314 338
27s 314
4534 4618 4578 4614 4512 4534 4538 4538 4538 4558 4554 4558
4912 4912 4973 50
4978 4978 4912 4978 4973 4978 4912 4978
*214 238 *214 24
2
2
2
2
214 214
214 214
1158 1178 1173 1258 1218 13
1234 14
1312 14
1312 1334
*6178 6214 6238 6238 6218 6218 6112 6112 *61
6112 *6112 62
312 312 *314 334
*314 334 *314 334 *314 334
312 312
*512 612 *512 612 *612 612 *612 6
612 612
6
6
110 110
110 110
111 111
111 111
111 111
• 110 110
__
2
21
24 • *2
Last Sale 2
*2
July'12
21, *2
• Bid Isnd asked prices. a New stock, e Asst't paid. 0 Ex-stook
8
553
46
8312
3112
613
*.40
*712
3
812
8
578
534
46
4614
8418 8312
311? 3114
614
614
.50 *4Ø
*712
8
*278
3
814 814 *8
5341
512 578 *512
46141 4612 4612 46
84125 83
8312 83
32 I 3112 311
3114
614
614 612
6121
50 *.40 .30 *.40
8 I *712 8
712
3 12
318 *3
3
$12
312
6
4612
8312
3112
012
.50
712
3Iis
Sales
/' the
Week
Shares
STOCKS
BySTON,STOCK
EXCHANGE
Ranoe since Januar, I
On bast.; ol 100-share tots
Lowest
II tonest
flange tor P7eVierta
Year 1911
LOICC3t
ft tyhest.
Railroads
15 Atch Top & Santa Fe_100 10378 Feb 10 110 Apr , 10038 Sep 11214 J'ne
Do pre.
100 10112 Jan 12 10414 Feb i 101 Sep 105 J'ne
157 Boston & Albany____100 21112 J'ly 25 22252 Apr 3 119 Apr 226 Feb
100 125 J'ly 15 13434 Mch 25 12412 Sep 13012 Aug
76 Boston Elevated
Boston & Lowell
100 204 J'ne 10 218 Jan 4 207 Feb 218 Sep
9612 Oct 12238 Feb
83 Boston & Maine-----100 96 May28 10012 Jan 3
Boston & Provldence 100 297 May 8 300 Apr 27 292 Mch 300 Mch
Loston Suburban El Cos_
12 Sep
16 Mch
13 Jan 24 1. May-,
Do pref
7014 J'ne
70 Oct
75 Jan 25 80 J'ne o
20
Boston & Wore Elm Cos_
13 J'ly
6 Feb
12 Jan 6 1212 Jail 6
pref
53 J'ly
.
080. Jan
51 May14 57 Jan
30
Chic June Ry & USI"..100 165 May 6 170 Jan 19 156 Apr 171 Dec
Do pret
10812 J411 2 112 J'neil 10/ 1.1ch 11512 J'ly
3 Connecticut River__ _100 260 J'ly 24 272 Ja3 Is 265 Jan 272 J ne
100 12214 J'ne 1 128 Jan 21 125 Apr 130 Jan
10 Fitchburg, prof
Ga By & Eleo stmpd_100 124 J'ne
s179 Apr 1 s117'7 Jan z1.64 Oct
Do pre:
83 Feb
9312 J'ne
100 8434 .121y 1 9112 Jan c
11
100 125 J'ly 23 14738 May41 135 Sep 215 Jan
382 •keine Central
16 Apr
24 J'no
65 ..lass Electric Cos___ _100 1873 J'ly 23 2318 Jai) 8
Do pret Stamped _100 7612 J'ne 26 83 Feb 2.,
326
438 NYNH& Hartford_100 13312 May18 14238 Apr 2 1214 Sep 15138 Feb
Northern N H
100 13478 J'ly 5 143 Jan 24 Us Jan 142 Meh
Norwich & Wor pref_100 206 J'ly 5 21212 Jan 20 210 Jan 214 Nov
100 e174 J'ne 14 187 Jan 31 18.3 Mcb 190 Nov
49 Old Colony
32 Jan
45 Dee
Rutland prof
100 41 Jan 2 711 Jan 3.4
i0312 Sep 19213 J'iy
100 16012 Feb 1 17434 Apr •
1,801 Union Pacific
5.8) Men
9518 Slay
Do pre.
100 90 J'ne 3 9212 Feb 8
164 Jan 16 150 Mcb 16418 Dec
1 c. mont & Mass
100 153 J'iy
1/3 Men
so Sep
50 83 Apr 15 88 8 Feb 2
45 1.'est 4-.4 St
Do pref
50 OS J'ly 11 10312 Mch 1;, 10, Aug 105 Jan
6
Miscellaneous
Amer Agricul Chom 100
D- pref
100
Amer Pneu ServIco_ 50
Do oref
50
Amer Sugar 10E111_100
Do pret
103
Amor Tel,p & Teleg_100
Amer,oan 1Voolon
100
Do g)rot
100
Amoskeag Manufacturing
Do pref
506 AU Gulf & W I SS L_100
Do pref
100
10
845 East Boston Land
20 Edison Eleo Ilium_ 100
100
1,369 General Electric
398 Massachusetts Gas Cos100
Do p.ef
100
143
Mergenthaler LIno
100
Mexican Telephone_ 10
100
48 N B Cotton rarn
Do pref
100
5
100
747 N E Telephone
Portland (Mc) Elec1.0
Pullman
Co
100
142
25 Recce Button-Hole.. 10
100
1,036 Swift & Co
Torrington
25
424
Do prof
25
Cnion Copper L & 51 25
United
Fruit
100
325
25
697 Un Shoe Mach Corp
Do pret
25
172
100
6,584 O S Steel Corp
Do pre
100
65
5814 Feb 28
2•9058 J'ne 24
312 Mell 13
14 Itch 26
11434 Jan 10
11582 Jan 4
13712 Jan 2
25 Jan 31
86 Feb 6
77 Jan 3
39014 J'no 21
7 Jan 4
1212 J'ne 8
1034 Jan 2
284 May23
155 Jan 2
x8818 J'iy 15
9312 Jau 6
217 J'ne 21
212 Nich 14
100 J'ne 13
98 J'no 28
150 J'ly 10
7212 Jan 17
158 Feb 1
1334 Jan 2
9812 Jan 2
27 May t:
28 Jan 6
.85 Jan 6
178 Jan 251
4614 Jan 15
2738 Jan 10
5838 Feb 13
10718 Feb 13
46 Sep
6334 Mch 23
99 Jan
105 Mch 2
332 AU4
514 J'ne I.
121$ Aug
21 J ne 1
112 Sep
13358 Ma.21
123 Apr 0 11134 Jan
149 Mch25 13183 Aug
20 0 Dec
30 Mch22
8512 Oct
9414 Men 23
84 May
7112 Dec
04 Dec
105 Mch it
738 Duo
0 Feb 14
1412 Nov
20 Jan 18
714 Jan
1714 May27
e a Sep
300 McliJi
18778 J'ly 25 142 Sep
8734 Jan
94 MLA Iv
93 Dec
9878 Feb
;3 Jan
225 Jan 18 211
Oct
412 J'ne2u
105 Jan 18 103 Oct
107 bleb 2., 101 Nov
164 Mch 14 13/ Jan
6234 J'ly
90 Mch2o
16512 Apr 29 153 Sep
1738 Apr 11 x12 Jan
109 Aich 27
9734 Sep
29 Sep
32 Jan 10
27 Mch
21 Ayr 17
334 Apr 8.
34 May
20819 J'Ao 13 4178 Dec
4014 Aug
5314 MO 13
2612 Sep
26:?. Apr 2..
50 Oct
7314 Apr 33
11334 Mch2,, 10312 Sep
6334 Dec
10514 Mch
612 Jan
1914 Jan
122 Feb
12018 Slav
15314 J'ne
3614 Meh
9612 j•ro
81 Nov
10012 Dec
11 May
26 Jan
12 May
297 Dec
16734 May
9634 Aug
9812 Oct
235 Aug
478 Jan
119 Meh
11612 Men
16512 Dee
7334 Nov
DM Jan
15 May
104 J'ne
36 Jan
31 J ly
1,10 Mel
19712 J'iy
5878 Feb
3984 Jan
8218 Feb
128112 Feb
Mining
Adventure Con
25
514 Mch 28
Algomah
438 Jan 4
25
Allouez
25 3814 Feb 1
Amalgamated Copper 100 60 Feb 1
•.m Zinc Lead & 5m.. 25 2412 Feb 15
Arizona Com'i etts dep.
2 Jan 2
Bonanza Dey Co _10 .411 Mch 9
614 Feb 1
585 Bos&Corbeope.:511M-g- 5
500 Butte-Balaklava Cop_ 10 2,510 J'ly 25
Butte Coalition
15 2134 Jan 18
5,539 Butte& Sup Cop(Ltd) 10 1912 Feb 7
1,334 Calumet & Arizonr._ 10 5712 Feb 1
25 405 Feb 1
103 Calumet & Heels
Centennial per
25 1712 Jan 6
210 ch
Copper
5 2514 Feb 28
550
Cons Mercur Gold__
1 .03 Mch 26
774 Copper Mange Con do 100 50 Jan 31
5 .Tan 19
20
15 Daly-West
1,352 East Butte Cop Alin__ 10 1214 Jan 15
25 10 J'ly 13
729 Franklin
418 Feb 27
390 Giroux Consolidated_ 5
1,084 Granby Consolidated _100 33 Feb 5
712 Feb 29
20
2,180 Greene Cananca
375 fifincock Consolidated 25 29 Jan 6
1 Jan 3
25
2 Helvetia Copper
25 1138 Jan 16
190 Indiana Mining
50 Inspiration Consol C 20 18 Feb 6
175 Island Creek Coal__ 1 4012 Jan 17
Do pret
1 85 Jan 13
178
6,805 Isle Royale Copper_ 25 2034 Jan 15
2 Apr 9
5
92 Kerr Lake__
50 Kewecnaw Copper__ 25 .80 Jan 2
25 3212 Feb 1
1,865 Lake Copper Co
412 Feb 15
25
120 La Salle Copper
555 Mason Valley Mines_ __5 1078 Feb 8
612 J'iy 9
25
150 Aass Consol
234 Jan 3
25
110 !dayflower
5 2338 Jan 29
1,100 Miami Copper
Michigan
2 Jan 2
25
25 5012 Jan 30
295 Mohawk
5 1814 Jan 29
980 Nevada Consolidated
314 Feb 8
550 New Arcadian Copper 25
695 Nipissing Mines
534 Jan 3
15 2234 Feb 1
2,065 North Butte
25
145 North Lake
514 Jan 30
4 J'ly 9
25
105 Ojibway MinIng
25
258 Jan 2
380 Old Colony
25 44 Jan 31
145 Old Dominion Co
Osceola
nc
25 106 Jan 15
345 Quy
.. 10 15 Mch 27
870 Pond Creek Coal ......
25 7312 Jan 29
94
555 Ray Como! Copper__ 10 1618 Jan 29
1 Jan 31
253 ianta Fe Gold & Cop_ 10
7,273 Shannon
9 Jan 31
10
.60 Feb 1
230 South Utah M & S
2.117
25 24 Feb 1
Sui perl:or& Boston 111n 10
1,045 St
114 May29
174 l'asnaraok
25 26 Jan 31
•745 rrinl
5 Jim 15
25
278 J'ly 26
2,630 Tuolumne Copper __. 1
3,145 U 5 Smelt Ref & Min_ 50 24 Jan 31
pref
D
164
50 47 Jan 10
5
790 Utah-Apex Mining
2 May21
912 J'ly 8
5,709 Utah Consolidated
5
10 5212 Jan 29
85 Utah Copper Co
23
75 Via oda
312 J.1Y 2,1
25
105 Winona
512 Jan 25
25 9434 Jan 29
171 Wolverine
ott
134 Jan 5
25
dlv. h Ex-rights. a Ex-div. and rights.
4 Sep
4114 Apr 20
814 May 2
212 Oct
1913 J'ne 21
21 Aug
4434 Sep
8734 J'ne 6
1934 Oct
3314 J'no 21.
138 DC0
678 Apr 2
.55 Apr 11 .30 Oct
334 Aug
914 J'no 6
3 Nov
534 Apr 2
14 Aug
2338 Jan 3
6134 J'ne 12
7814 J'no t
45 Sep
541 J'ly i, 360 Sep
2712 Apr 18
8 Aug
1638 Sep
3514 J'ne 21
.09 Jan 19 03 Nov
0612 Apr 1.
1034 Sep
712 51eh27
3 Feb
1578 Apr 11
878 Aug
1014 Apr 1
512 Aug
611L0Apr 8
338 Sep
6014 Apr 26
3.6 Aug
1034 J'ne 21
5910 Oct
37 J'ne 1 I
17 Sep
2 May a
34 Sep
23 Apr 24
514 Oct
2158 Jan 24
0534 J'ne h.
2914 May
9019 May17
8118 Sep
1112 Aug
363g J'iy ii258 Oct
318 Feb 13
12 Nov
3 May 8
22 Aug
49 Apr lt,
3 Aug
8 Apr 17
1412 J'ne 27
612 Apr
412 AMC
914 Jan 4
1812 Apr 23 .20 Feb
2934 J'ly 24
1678 Sep
114 Nov
512 Apr 2u
36 Apr
73 J'no 27
15 Sep
2314 May i
2 Aug
614 Apr to
3612 Dec
838 Met121
20 Sep
35 Apr 11
334 Aug
834 Apr 22
353 Dec
a.% Jan 11
1314 May 1 .50 Jan
3414 Sep
60 J'no 0
81 Sep
13012 J'ne 22
1978 J'ne lo
55 Sep
95 J'ne 22
12 Sep
2212 J'no 22
47s Mayzj
34 Apr
173,1 J'iy 26
7 Oct
114 Apr 3
12 Dec
20 Oct
4858 J'iy 10
e218001
478 Jan 13
20 Sep
51 Apr 18
278 Oct
912 Apr 1.
134 Sep
41148 Mch 20
3058 Sep
43 J'ly I
4514 AUR
5034 J'ne 22
173 Nov
Feb 9
.
311
934 Jan
2038 Apr 2
38 Sep
6519 J'ne 6
1 Aug
518' Jan 20
334 Nov
734 Men I
74 Nov
117 Apr 17
34 Mph 4 .30 NOv
Unstampcd.
718 J'ne
11 J'ne
1114 Dec
7158 J'ne
3058 J'ne
211L8 Dee
.75 May
1512 May
612 Jan
2312 Deo
1,000
317
150
220
167
189
1,902
100
172
23
465
480
435
7,457
1,830
9,917
•
6334 Dec
545 Jan
19 Dec
2712 Dec
15 J'ne
6934 Feb
7 Dec
1134 J'ne
14 J'ne
818 Feb
4312 J'ne
858 Den
:8112 Dec
2 Feb
16 J'no
44. Dec
91 J'ne
23 Dec
778 Jan
334 J'ne
40 J'no
6 Jan
1178 Deo
310 J'ne
31,0 Dec
2438 Dec
312 Jan
57 Dec
2114 J'ne
414 Am
113a Feb
3654 J'ne
104 J'ne
812 J'ne
318 J'ly
49 J'ne
124 Jan
76 Dec
19 Dec
134 J'ne
1214 Fob
1 110 May
4253 Jan
814 J'ne
42 Jan
512 Dec
472 May
4018 J'ne
4912 J'ne
312J'ne
20 J'no
6758 Dec
418 Dec
912 Feb
122 Feb
2 Feb
229
Boston Bond Record
JULY 27 1912.]
BONDS
BOSTON STOCK EXCHANGE
Week Ending July 26.
L
Price
Friday
July 26
1.
ts
cs
TVccr
Range or
Last Sale
Range
Since
Jan. 1.
. BONDS
BOSTON STOCK EXCHANOE
Price
Friday
July 26
Week Ending July 26.
Rangs or
Last Salk
Eangs
&nee
Jan. 1
High No Low High
Bid
Ask Low
lino J1yl
9914 9914
10114 1023, General Motors 1st 5-yr 63_1415
100 1001: 9914 Feb '12
90ts 9114 Gt Nor•C•111',4 Q toll tr 4s_ _1921 J-3 96 9614 9613
0654
96 9812
957,
1921 Q -J
9578 9758
Registered 49
10834 11531
9534- 9578
Illinois Steel deben Is
10018 10034
1913 A-0 10013 ij63: 10014 J'ly '12
ii9i3
Ia Falls & Sioux C 1st 7s__ _1917 A-0
117 Apr '08
103 131
-97 Alch '12
Ban C Clin & Spr 1st 5s_ __ _1925 A-0
.
.
9612
54 83
-11414 11712
0773 9934 Ran C Ft Scott & Mem 6s 1928 M-N
.116 11412 1141.,
1934 M- S 5212_ _ 921231(11'12
92 9213
91 9218 Kan C AI & B gen 43
1934 81- S
Assented income Is
8534 J'ly '1.
8412 89
9012 0158
10219 10234
103
103
10818 1081s Kan C & 31 Sly & Br 1st 53_1929 11-0 103 _
Marq Hough & Ont 1st 6s 1925 A-0
115 J'ne'08,
4 Mass Gas 4 Ms
WI
1929 J-J
98 98 J'ly '1:
63 -(178-192
10018 10018
1917 J • J -_-- -- 10018 Apr '1:
95 9513 Mich Telephone 1st 5s
New Eng Cotton Yarn 5s_1929 F-A 9712 98 9812
9612 99
9812
New Eng Tel.ph 58
10133 Mch'l1
1915 A -0
10012Sep 'oh
Is
1916 A-0
New England cons g 58
9978Jan
1945 J- J
-9-9-34
- -9-9-7i
05 95
Boston Term 1st 43
193, A-0
103 1034
Dec'11
New River (The) cony 5s_1934 J-J
75
---9214 Mch'12
12-14 WI;
-8-9-13 12-14 NY NH & H con deb 3 J.48_1956 J -J ---i'2834 J'ly '12
129/8 13212
Cony deb 68
1948 J -J
Old Colony gold 43
----101 Apr
1924 F-A
9878 Sep SY
10038 10112 Oregon By .1e Nay con g 49_1946 J
.1-1-3-34
Ili
Dreg Sh Line 1st g 6s
112 J'ne'12
1922 F - A
9978 100
95 95
1912 J-J
95 Jan '12
9812 9858 Pere Marquette deb g 6s
Repub Valley 1st s t 6s
1919 J -J 103
_ 100 Jan '11
7014 Dec
-4 873, Savannah Elec Ist cons 5s 19.52 J -J
-i(c110312 10514
1930 F- A
10312 J'ly '1:
10053 10134 Seattle Elec 1st g Is
0.4
3hannon-Ariz 1st g 6s
1919 M-N 99
8312 100
itie 97
89 91
Terre Haute Elec g Is
1029 J -J
97 Apr 'in
993,j 10033
Torrington 1st g Is
1918 M-S
10012 J'ly '12
10013 108153
10018 J'ly '1
- -9-9- - Union Pac RR & I gr g 4s_1947 J-J
1927 J -J
20-year cony 43
10178 May'12
10173 1017s
9634 101
9613 -go"3-4 9614 J'ly '1:
United Fruit gen s t 4;is _ _ 1923 J -J
955R 971 2
1925 J J
0,5:3.
Debenture 4 Ms
9534 96 9534
9514 9615
10258.1'1y '12
10152 104
II S Steel Co 10-60-yr 5s Apr 1953 11-N
9914 103
1915 F-A
99 May'i:.
99 9912
80 8614 West End Street Ry 4s
1914
10014 Feb '12
10014 10114
Gold 4 Ms
9834 9914
1916 M-N
9872 Apr '1:
_
Gold debenture 4s
1917
981. N ov.11
Gold 45
101
11T1 1003i
12712 12712 Western Teleph & Tel 5s_,._1932 J -J
NO, Feb
93r..; 93:1
127 12712 Wisconsin Cent 1st gen 4s 1949 J -J _.....
NOTE.—Buyer pays accrued interest in addition to the purcl ase price for all Boston Bonds. • No price Friday; latest bid and asked. 1j Flat price
High No
010
Ask Low
Am Agricul Chem is 53_1928 A-0 102 Sale 01'73 102
0012
905,
0011
-J
Sale
_1020
J
colt
tr
4s_
Am Telep & Tel
11 0.2.Ply '1:
1936
S 111
Convertible 4s
98,l'ne '12
Am Writ Paper 1st s f Is g_1919 J • J
131 J'ne'1.2
1915 11-N
_
Am Zinc L & S deb 63
81
84 'Sale 81
Ariz Corn Cop 1st Cis ctfs of del),
9778
11772
Atch Top & S Fe gen g 4s 1995
91 Mch'12
Adlustment g 4s___Juiy 1995 Nov
8012 J'ly '12
July 1995
Stamped
1955 .1-D
10818 Dich'12
50-year cony 45
1917 J - D
11058 Mch'll
10-year cony Is
6312
Atl Gulf & W 1 SS Linea 58_1950 J-'7 6312'Sale 6312
1933 M-N
Boston Elev 30-yr g ,s
58 Feb '12
1916 J -J
Boston & Lowell 45
10014 lich'09
Boston & Maine 4 Ms
1944 J -J
104120ct '08
Improvement 4s
1931 F-A
Plain 4s
95 Feb '12
1942 F-A
Bur & Mo Riv cons Os
1916 J -J
103 J'ne'12:
Cedar flap & Mo It 1st 7s 1916 ,11-N
11155 Sep '11
Cent Vermt 1st g 4s__ ,,Stay 1920 Q-F
0112 J'no'12
0 B & Q lows, Div 1st 53_ _1911i A-0
1103 Oct '0/
Iowa Div 1st 4s
9012 Nich'12•
1919 A-0
10058 J'ly '12
Debenture 53
1913
9973 Feb '12
Denver Exten 49
1922 F- A
0812 Mch'12
Nebraska Exten 43
1927 11-N
0913 Feb '11
B & S W s i 4s
1921 81- S
8718 May'1:
Illinois Dly 3 ms
1949 J -J
10058 (00
Chic Jet By & Stk Yds 5s_ _1915 J J
9012 J'ne 1
Coll trust refunding g 43_1940 A -0
114 Jan '11
Ch Milw & St P Dub D 6s_1920 J-J
113)8 Feb 'It
Cli AI 3: St P Wis V div 6s 1920 J J
91 May 12
1931 .11-N
Ch &,No Mich 1st Cu 5s
9634 J'iy '12
1921 J -I)
Chic & W Mich gen Is
9712Sep '11
Concord & Mont cons 4s_....1920 J-1)
10014 Aug.();
Cudahy Pack (The) 1st g Is 1924 ,11-N
100 May'12
1026 A-0
Current River 1st 53
80 May'12
1946 A-0
Dot Gr flap & W 1st 4s
09 J'ly '12
1940 M-N
Domjn Ion Coat 1st s t 53_
10313 Apr '05
1915 fl-S
Fitchburg 4s
1927
S
96 Apr '08
4s
12712 Itch•12
Fretnt Elk & Mo V 1st Os_ _ _1933 A-()
Unstatnned 1-,t Os
1933 A-0
127 Mch '12
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily,'Ieekly, Yearly
sitars Prices—Not Per Cement Prices
Saturday
July 20
Monday
July 22
Tuesday
July 23
Wednesday
July 24
Thursday
July 25
10912
111
109 109
109
110 110
109 ITO". 1.109 ---- 4.... 112
109
1434 1434
1534 1538 1538 1434 1514 1434 15
70
7112 7038 7038 7012 71
7214 *7112
125 125 *124
125 125
-- 2318 231s
*2234 231; ;23 2312
5234 5234
*5234 5314 *5312 54
-2412 24:5-8 2412 2458
2412 2412 *2412 ____ *2412 25
*108
*10812
*1512
47134
*1
4334 433,1 44 44
4433 4412
441,i 441
*1214
*1214 _.
5514 5571 5514 5512
19
1912 1934 2014
64
6234 6312 64
6
6
*6
612
*3234 33
*3278 33
*9014 9073 9012 9012
8418 8418 8378 84
1312 1313 1312
*13
2912
2912 29
*29
0178 621te 6178 62
5238
52
52
62
211/
1
4 2158 2178 2178
2614 2612
2578 26
83 32111.8211te
83
*634 61318 Ohs 6"is
5214
5178 52
5113
,
8812 8812 88.4 88
,
4
PHILADELPHIA
Inactive Stocks
*1
4334
4438
*1214
6434
1912
*6312
6
3234
91
8358
1312
2934
6178
52
2158
2534
x8138
678
52
8814
Friday
July 26
*__ 112
8_
10014
1434 1434
70
7012
*12434 12512
2312
*23
6312
*53
2458
*24
Baltimore
200 Con Gas El L & Pow_100
100
pref
Do
180
1,220 Houston Oii tr ctts,_ 100
Do
pret tr ctfs_100
1,149
50
504 Northern Central
50 Seaboard Air Line,,_,.100
prei:
100
Do
50
400 United Ry & Electric. 10
Philadelphia
American Cement____ 60
112
*1
*1
151 American Railways__ 50
*4312 44
44
44
*4312 -44
44
50
4412 4414 4414 4433 4412 3,565 Cambria Steel
443s 44
Electric Co of America 10
*1214
*1214
- *1214
13attery_100
Elec
Storage
882
5518
5538
5514
55
151; *5412 -5-i.
100
.1615 *1912 2012 2012 2238 2238 2414 5,739 Gen Asphalt tr ctfs
pre1 tr ctfs_100
Do
6413 64
64
64
6518 6512 6714 3,955
50
Telephone_
Keystone
30
6
*6
611
574 Lake Superior Corp 100
- 3234 33
3234 -3234 3234 -5263 -3-2-58
60
217 Leh C & Nay tr
91
9034 91
91
91
*0012 91
60
8314 8334 84
8358 83
697 Lehigh Valley
8314 83
14
14
14
7,855 Lehigh Valley Transit 50
1433 15
1414
1414
50
Do pref
3038 3038 31
30
30
3,678
3014 30
60
62
613461"is 6134 6172 61786115te 2,087 Pennsylvania RR
5172 5172 5238 5238
813 Philactel Co(Pittsb) _ 50
52
5212 52
2134 2152 2152 2172 2214 2218 2238 7,229 Philadelphia Elec/.._ 25
11,381 Phil It T vot tr ctts. 50
26
2614 2612 2632 2572 2612 26
60
8112 8138 8171e 81"1481"is 82124 8212 1,463 Reading
7
*67
8
1
1,319 Tonopah Mining
61324
6/2
678 6,2
50
5132 51/2 5178 5178 6,219 Union Traction
5172 52
52
Union Gas Impt
So
1,326
8872
8812
8832
8832
8812
8812
8814
MA
Ask
178 2
10
American Milling
50 44 45
Cambrla Iron
Central Coal & coue_100 8512 8634
8,212
100 81
Preferred
100 it114 ____
Oonsol 'Frac of N J
Germantown Pass-- 50 — —
Huntington & 11 T__50
Ou ......—
Preferred
Indiana Union Tr__1(a)
.
19
1 .3Insurance Co ol N A
---_____
Inter Stu Pow & Chem_6U ---Interstate Itys. pref.__ lu ...._ ....._
,, __ ____
Kentucky Securitles_10,
100 _. __
Preferred
Keystone Telco V t c— 50
50 ____ ..._ _
Preferred
geystone Watch Case_10v
10 18
183-4
Lit Brothers
50
Little Schuyildil
tl___50
Schuyl
Minchili 30
Nat Gas Elec Lt & Po_100 30 ____
100 80
Preferred
.
_
North Pennsylvania_ _50
51) ioi 1411;
Pennsylvania Salt
_ _ _
Pennsylvania Steei__10u _
100 96 59
Preferred
Piths Co (Pitts) pref__5J 4334 441:
Phil German & Norris...5 1 149 150
50 8412 85
Phlla Traction
91f ____
10
Railways Genera,
932 934
Tonopah Belmont Dev_1
United Cos of N J., _100 __ ____
_
United 'fl-ac Pitts p-r-el..50 _
-^ —
—
Virginia ley s4 Pow__ Jou _—
Preferred
100 __ _ _
.612
Warwick iron ele Steel_10 101-4 1Washington-Va Ity___10,i 50t: 51
Preferred
100 79 80
Welsbach Co
_
100
West Jersey & Sea Sh_150 ,34
Westmoreland Coat
_50 ------Wilkes Gas & Elec....100 _": -.
York Railway
s.. '914. - -04Preferred
50 32 3312
PTIILADELPHIA
ilid
Ask
PHILADELPHIA
Lange ;or l'ret.ous
Ye's' (1911)
Range Since
January 1
Lowest
Highest
Lowen
64 Jan
89 Jan
7 Mch
45 Feb
121 Jan
20 Jan
33 Jan
1613 Jan
9512 Dec
101 Sep
10 Aug
79 J'ly
13034 J'ne
27 J'ne
50 Nov
1973 J'ly
5 Nov
7 Jan 10
1 J'ne 14
42 Jan
4318 J'ne 10 4512 Feb 1
407,3 Sep
4112 Mcn 2 4434 Mch 2h
1113 Jan
1173 Feb 2 1212 J'ly
4812 Jan
5234 Jan 16 5673 J'ne
2812 Aug
18 Apr 2 3378 Feb 17
68 Aug
6034 Apr 2 73 Jan 3
08 Dec
Apr 4 131te Jan 8
2112 Sep
27 Feb 20 3312 J'ly
8778 Mch20 9112
8312 J'ne
/
7818 Feb 6 9278 Jan 16
7534 Sep
614 Jan
812 Jan 3 15 J'1126
1812 Jan
23 Jan 12 31 J'ly 26
5933 Sep
61118 Jan 27 6312.5 Apr 26
57)12 Jan 11 5614 Feb 16
4814 Set)
1612 Nov
ll1673 Jan 2 2234 J'ne 29
17 Apr
2218 May 6 2612 J'ly 22
7414 Jan 11 2914 Apr 30 661'14 Sep
512 J'iy
814 Apr 15
6314 J'iy 19
43 Jan
4934 Feb 28 1214 Jan 26
8414 Sep
8614 Jan 9 8934 Apr 26
I71 Jan
4612 Nov
4834 Feb
1212Jan
5613 J'ne
3914 Oct
8373 Jan
978 Jail
32 Feb
98 Jan
93714 Dec
978 Oct
2533 Oct
65 Feb
5914 J'ne
18 J'ly
2418 Aug
8034 Feb
858 Jan
5234 Aug
8937 Jan
96 Jan 3 117 May 6
101 Jan 2 110 Apr 3
814 Jan 3 1618 J'ly b
5334 Jan 25 7212 J'ly Is
125 J'ly 23 130 Apr 8
2212 Mch 2 2714 May24
4512 Itch 14 6534 J'ne 10
1814 Jan 2 26 Pao 29
Ma
Ask
BALTIMORE
Ph & Read 2d Os 1933 A-0 -C
____ ____
Ry Extedmp 5s '32 MS
Bond;
Ex Imp M 48 1947_A-0 ____ ...... Chas City Fly 1:t 5s'23 J-J
Prices ars all "and
Terrnin.1 5s g 1941..Q-1, 114 115 Chas ay (I & El 5s'99 51-S,
interest'
„. _ P W & Li col tr 4.'21__J-J 9938 9958 City & S'ub 1st Is 1922 J-D
Alt & L V Eiec 4 4s'33F-A _
Ulty & Sub(Was)1st Is '48
Am Gas & Elec Is '07_F-A
g63-4 -87-14 Read Trac 1st 6s '33--J-J -- _
Hoch Ry & Leon 58'54 J-J 1003-4 101-14 Coal & C ay 13t Is'19 A-0
A-0 05 96
Am flys Is 1917
s'20_F-A
_ ___ Coal & I Hy 1st,
AU C Gas 1st s 1 5s '60.J-J ____ 93 Spanish-Am Ir 68 '27 __J-J 10012 ____ Col &Grnv 1st Os 1915 J-J
Berg&E'Brew 1st 69'21 J-J .. — ...._ Stan'd G11.9 Ss E 68'26_,J-D
Consoi Gas Is 1939___J-D
liethleh Steel es 1998-Q-F 1163-4 ---. Stand SU Wks Ist5s'28 J-J ____
Gen 4 Ms 1964_ _A-U
Choc & Me 1st Is 1949_J-J _ ____ U Trac Ind gen Is '19 _J-J _ _ _ .._ _ _
Ch Ok & G gen Is 1919 J-J 1023-4 10314 Un Itys Tr ctts 4s'49_J-J 76 77 Cons G E & P 4%s '35 J-J
Fair & Cl 'Ft 1st 5s'38 A-0
_ United Rys Inv 1st coil ti
Con 'frac of N J 1st 5s '33
___
....31-N 8314 8312 Ga & Am 1st con 55 '45 J-J
-5_ 1 Is 1926_
Del Co Itys tr ctts 45'49J-J -------elsbach s f 6s 1-90.._J-D 9214 ____ Ga Car&N 1st Is g '29_J-J
__
Elec & l'eoples Tr tr etts__ ____
Fr Tacdaii 1st Is 1940.J-J _ .. _ _ W11-1.1 G&E con 55'55_J-J ___ ___ Georgia P 1st 6s 1922__J-j
Ga So & Fla 1st Is '45-J-J
iii 6ii: York Itys 1st Is 1937.J-D 94 95
Gen Asphalt 59 to 16_31-s
G-B-S Brew 3-43 '51_31-s,
Indianan Ry 43 1933__J-J ...-• 13338
Knoxv Trac 1st Is '28 2r-U4
02
BALTIMORE
61
Interstate 43 1943 _ _F-A
MaconRy&Lt 1st 5s'53 J-.1
Keystone Tel Is 1935_J-J
Inactive Stocks
8312 8358
Ewe ay 1st Is'31_A-0
Lake Sup Corp Inc 53'24_0
'7'734 _--- Ala Cons Coal & Iron_100 ____ ____ Did
100 - - -- --- - Memphis St let 5s *45_,J .1
Preferred
Lehigh Nay 4 Ms '14 Q-J ___ __
Mt
Ver
Cot Duck 1st 5s-271
26712
.100
(Conn)
Atkin
::
Coast L
Gen 31 4 Ms g 1924_Q-1
, ......
100 13712 13812 Npt N &0P 1st 93'38M-N
Leh V 0 1st Is g 1933 _J-J 107 - 103 Canton Co
Nor&Port Tr 1st 5s'3O J-1.1i
100 35 37
Georgia Sou & Fla
Leh V ext 48 1st 1948_J-D __ ___
North Cent 4 Ms 1924_A-U
100 9714 98
1st preferred
cons° 6s 1923
J-D 115 1153-4
Ser,es A Si 1926____J-J
100 85 90
2d preferred
Consol 45's 1923
J-1) L ___ 1035,
Series B 5s 1926____J-J
412
4
100
1451. G-B-S Brewing
Annuity 68
J-D
P.tt
Un Trac 5s 1997__J-J
_
_
...._.
Ventll_100
Gen cons ss 2003 M-N
9738 0758, Pullman Cons
. Poto Val 1st 5. 1941 _J"4
100 91 52
Leh V Tran con 4s '35 J-D _
Preferred
__
Say
Fla
& West 5.,'34 A-U
1st series A 43 1935.31-S
---_ __-_Bonds
Scab Air L 43 1050___A-U
151 series B 53 1935 111-S --_-. 1023-4
Prices an all "and
Adjust Is 1949____F-A
interest"
MarketStEl 1st 4555 31-N -9/ —
NatLII&P sec 11 Is '19 J-,1
J-J 92 9312 Scab & Roan Is 19213__J-J
.... Bait City 3 Ms 1930
Nevi; Con Gas Is 1948_J-D --_-_- - 4s 1954-1955__Various 98 100 South Bound 1st 5s__A-t)
31-N 10212 1031: U El L&P 1st 4 Ms'29 3,1-N
N Y Ph & No 1st 4s'39 J-J -08 - -_:.-55 1916
Income 4s1939
M-N ___ __-_-_ AnaCostia & Potorn 5s A-0 99 9934 On By & El 1st 4s '49 M-S
Income 4s 1949___J-D
Pa & N Y Can 53 '39_A-0 1123-4 __ AtCoast L cony deb 4sM-N 104 l0414
Funding Is 1936___J-D
Penn Steel 1st 53 '17_31-N
_ _ Atl Coast L(Ct)ctfs tis J-D 102 104
People's Tr tr ctts 43 1943 -6117 -9212
Ctfs of indebt 45____J-J ___ ____ Va Mid 3d sec Os '16....M-S
4th ser 3-4-55 1921 _M-S
J-J 92 9312
5-20-yr 45 1925
P Co 1st &colt tr 5s'41) M-S 10312 10334
97
5th series Is 1926__M-s
B 8 P & C 15t 4 Ms'53 F-A 06
Con & coil tr Is '51 31-N
9612 97
Va (State) 33 new '32_J-J
P11)1 Elec gold tr cas_A-L) 10334 104 [Salt Trac 1st Is '29_ _M-N 100 107
Fund debt 2-3s 1991 J-J
Trust ctfs 45 1949 __J-J
NO Bait Div 51 1942 J-D 108 110
8278 83
West N C con 65 1914_J-J
____ Car Pow & Li Is 1933 F-A 92 94
P & E gen M Is it '20.A.-u_
__ Wil & Weld Ss 1935_,,-J4
Cent fly cons Is '32_31-N 104
Gen It 48 g 1920—A-0
100
• Bid and asked; no sales on this day. 11 Ex-dly. & rights.
Sails
ACTIVE STOCKS
or as,
Week (For Bonds and Inactive
StoCks see below)
Shares
I 315 paid. .1 13 35
paid. t $1735 paid.
Bid
Ask
104
103
9512 97
10414 1.05'
10434 10452
92 9:314
10112 102
---.
108 for
92 6712
8812 8834
100 10038
106 10612
10512 10534
111 11:i
106 107
5012 5112
105
%if jar
9814 9834
961f 99
7434 7512
971: 100
89
00
10412:
108
103
__100
8712 1,6/8734
814
81
105
104
"Olt;
__
85 8514
6434 65
8812 89
103
104
10514
___
_ __103 104
109
THE CHRONICLE
230
Volume of tiusiness at Stock Exchanges
TRANSACTIONS AT THE NEW YORK STOCK EXCHANUE.
DAILY, WEEKLY AND YEARLY
Stocks
Week ending
Jtdy 26 1912.
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
Sates at
..
New York Stock
Exchange
dec.,
Bonds.
Slats
Bonds
U. S.
Bonds
$7,311,450
19,019,550
17,010,000
11,112,600
13,553,40
21,127,000
$530,500
1,262,000
1,435,000
2,005,000
1,403,000
1,509,000
$39,500
219,500
71,000
96,000
122,000
75,000
1,214.360 4110,164,000
$8,144,500
$623,000
81,277
207,883
186,879
193,976
312,779
231,510
Total
168117004,
Par Value.
Shares.
Week ending Jut,/ 26.
1911.
1912.
$10,000
10,000
$20,000
Jan. 1 to July 26.
1912.
1911.
1,813,034
75,835,368
1,214,360
59,714,979
Stocks-No. shares...._
$110,164,000 1100,342,400 $6,858,779,025 $5,322,242,400
Par value
$11,00i)
$349,400
$8,80()
$1,277,100
Bank shares, par
Bonds.
$228,000
$1,029,000
$20,000
$1,949,500
Government bonds
15,024,000
1,399)100
623,000
76,887,500
State bonds
435,980,000
446,401,500
8,144,500 13.145.000
RR.and misc. bonds
Total bonds
$8,787,500 $14,772.000
2452,033,000
$525,238,500
DAILY TRANSACTIONS AT THE BUSWN AND PHILADELPHIA
EXCHANUES.
Philadelphia.
Boston.
Week ending
July 26 1912.
Listed
shares.
Unlisted
shaies
Bond
sates
Listed
shares.
Untie:at
shares
Bond
sales. '
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
5,019
9,581
9.32w
11.11s
9,57/
8.970
3,990
14,952
5,601
10,102
9,442
7,7/2
$15,0(10
39,500
37,000
29,000
37.000
11.000
3,738
11,901
12,232
14,688
10,747
16,389
1,246
3,317
2,324
1,091
4,894
2,434
$15,000
61,735
54,300
44,700
25,600
83.500
Total
53,601
51,862
3168,500
69,695
15,306
$284,835
Inactive and Unlisted Securities
All bond prices are now -and interest" except where marked "I"
street Rail ways-Won,)
Bid Ask
United Rya ol St L1515 1514
Co .i vot tr ctts
100
e Prelerred
100 44.2 4434
New York City
91
Wash Ry it Hi Co
100 89
25
Bleeck St & 140 iy stk_100 20
Preferred
100 9478 95
70
1st mtge 95 1950_
3-1) 8514 86
4s 1051
100 170 180
B'y & 7th Ave stk _
99-14 10014 dlectric, (las it Power Cos
J&J
2d mtge bs 1914
New York City
Broadway Surface 1(11J&J 103 104 Cent Un Gas 55 1927_ _J-J 101 103
1st 58 1924
L P Co_..100 132 133
5
10 e Kings Co
Cent Crosstown stock ..,.100
1st mtge (is 1922.....M-N 105 ____ New Amsterdam (las14
1st consoi 53 1948___J-J 101 103
Con Pk N & E Itiv stock _100
N I & E It Gas 1st 5844 J-J 10412 10512
Chrlstopher&IUth St stk 10u 125 137
_J-J 101 103
Consul 55 1945
Dry Dock E ii & BJ-D 100 101 e N I Mutual Gas L____100 £170 190
1st gold 55 1932
60
F-A
48 N Y & i4 El L &.Pow Co 100 65
42
Scrip 58 1914.
85
100 76
Preierred
Eighth Avenue stock.. 100 315 .._
60
N Y & Richmond Gas _100 48
F-A J 99
Scrip 65 1914
42d it Ur St Fy stock. 100 270 3218 North'n Un 1st 58 1927 SI-N 100 102
Standard Gas L corn....100 60
42d St id it St N Ave. 100
1011 110 100
Preterred
M-.6
' let 6s 1913)
M-N 104 RA
1st 55 1930
2nd ino Os Jan 1 1915.... /
Cities.
Other
zit
78..100
160
stock..
NinthAvenue
83
50 .80
o
Am Gas it Elee corn
2
Second Avenue stock _100
49
Preferred
50 *47
45
Consol 55 1948 ctfs_F-A / 40
100 380 385
0 Sixth Avenue stock......1110 115 126 Am Lt it l'rac corn
Prelerred
J-J
83
100 108 110
Sou Boulev 58 11145.
7212
95 Amer Power it Lt com .101) 70
A-0 90
So Fer 1st 5s 1:119
Preferred
86
75
80
100 85
Tarry WP & M 5s '28 11 &a
28 Bay State Gas
50 '
28 & 29th Sts 53 '913cUsA-0 / 20
38
12
Twenty-third St stocg_100 230 2.5 Bingh'ton (N Y) Gas Wk
1st g 55 1038
A-0 97 100
Union Ity 1st 58 1942__F-A 103 106
94
96 Buitato City Gas stook_100
7
Westchester 1st 5s "43_J-J
95 Cities Service Co com_luo 117 120
Yonkers St RR fis 1940_ A-U 90
Preferred
100 8812 11012
Brooklyn
97 100
Allan Ave RR con 5s '31A-0 1001: 102 Con Gas of N J 58 1936 J-J
BB& WE 58 11133 __A-0 97 WU Consumers' L U it Pow5s 1938
J-D 100
163 166
Brooklyn City BA__
UV 102 Consumers Power (Minn.)Bkiyn Hgts 1st 5.3 1941.A-U
Ist&ref 5s 1929op'14 M-N 89
90
Bkiyn Queens Co & Sube 1st g 5s '41 op1916.3-.
99 101 Denver U it Hi Ss 1949..51-N
9512 9612
97
99 Eilzabeth Gas Lt Co___100 300
81st con 5.5 '41 op'16 M-N
100 101 105 e...asex & Hudson Gas .100 139 142
Coney Isi & Bittyn
90
80
8/ Gas it El Bergen Co._ __Wu 87
1st cons g 48 1948..__JJ-J
77
82 e (Jr Rap U L 1st 58 '15.F-A 99
Con g 4s 1955
& N 53 1939. __J-J
91) 101 Ur't West Pow us 1946..J-J 88
894
Brk
.100 137 140
.
lift)
audson County Gas
Nassau Eiec pref.
10212 1031:
e 1st 58 1949...M-N 10412 10012
1st 53 1944_
45
Indiana Lighting Co....100 38
N Wmsburg Sc klatbush92
F-A
71
73
43 1956 opt
litt 430 Juiy 1941._F&A
45
50 39
Steinway 1st (Is 1922....J-J 102 105 Indianapolis Gas
1st g es 1952
91
Other Cities
A-0 89
Jackson Gas 5s g 1937__A-0 99 102
Buffalo Street Ely1st consol 58 1031___F-A 105 1051: eLaclede Gas preferred _101, 90 100
A-0 104 10514 Madison Gas 68 1926._A-0 101 109
Deb tis 1917
8012 Narragan (Prov) El Co _50 *3612 99
•Conn Ry,dr Ltg com 100 79
Newark Gas (Is Apr'44..Q-J 123
100 80
• Preferred
100 0/
Federal Light dr 'frac__ IOU 3412 38 Newark Consol Gas
-D 10512 10612
Preferred
100 82 85J
e Con g fis 1948
No tiud LH dePOs 1938 A-0 100
86
0 Havana Elea lty L &P 100 80
100 90
96 Pacific Gas it E corn....10() 6514 6534
e Preferred
100 9334 94
Preferred
J-J 10614 l0512
•Louisv St 5s 1930_
93
40 Pat it Pas Gas it
New On Rya & Lt corn 100 36
4
M-S 10234 1.033e Con g Eis 1949
100 77
79
• l'referred
90
94
St Joseph Gas 53 1937
eN Y %Veatch it Bost RyJ-J 9978 100 Standard Gas it Elec(Del).50 *23
1st g 43,
0 1946
2312
*50
Preferred
0 Pub Serv Corp of N 3-See Stk E x list
5012
eConv s I g (Is 1926opJ-D 103 10012
Tr ctfs 2% to 6% perpet 103 11012
90 United Electric of N J..100 90
95
North Jersey St Sty..100 75
8212 8312
J-D
1st g 4s 1949
M-N
8112 83
1st 43 1948
Western Power corn.. 100 3414 3434
76
Cons Traat of N J......100 75
Preferred
100 5934 6012
1st 5s 1933
.J-D 104 105
Western States Gas&ElecNew'k Pass Ely 53 '30.J-J 107 108
1st it ref g 581941 op-J-D 9212 95
Rapid Tran St Sty....100 235
1st 5s 1921
I elegraph and lelephone
A.0 103
e Amer Teleg it Cable...100 65 s70
.7 C Bob it Paterson4s g 11)49
31-N
80
81 e Central it South Amer.100 112 119
So J Gas El it 'frac...100 130 115 Cornm'i Un Tel(N Y)...25 108 115
M s 9312 100 Empire it Bay State Tel_100 65
Gu g 5s 1953
75
100 40
No Bud Co Ely 65 1914 J-J 10112 __ Franklin
50
Con 51 53 1928
J-J 103
e Gold it Stock Teleg___100 120 124
Est 55 1924.......M-N 98
e Northwestern Teleg......50 116 125
25 70
Pacific it Atlantic
Pat Ely con 6s 1.931__J-D 114
75
2d 65 1914 opt ___A-0 100 102 e Pac Telep it feleg pre!.100 98 105
30 Southern it Atlantic
25 92
Republic, By it Light...100 29
1)7
100 81
83 South Bell Telep it TelegPreferred
99
1st g 55 1941 op 1916-1-.1 103 10014
Trent P it II 53 1943.._J-D 97
Street Railways
Bid
Ask
[voL. Lxxxxv.
But Ask Indust and Mince11-(Con.) Bid Ash
Ferry Companies
100 105
Bilas (F.; W) Co corn
/3 &N Y 1st as
80
50 70
8
15
1911.stock. Rh)
N Y it H It Ferry
Preferred
.50 120 125
45
55
31-N
Bond it Mtge (loan,..., 10(l 288 292
1st 5s 1922
99
100
N Y it Bob 58 May '4(3. _J-D
Borden's Cond Milk corn 100 12612 12712
Bob Fy 1st 521946 M-N 10412
Preferred
10712 108
98
British Coi Copper Co .
N Y & N
55 1946____J-J
553
16
0
.b
25
35 Casein Cool Amer com_100
10th it 23d Sts Ferry...10u
112 2
70
Preferred
1st mtge 53 1919
J LI 60
1111) 50
52
23 Casualty Co of America 10(3 110 120
10i) 18
Union Ferry stock
99 C
Ce
itiy
iullonidves
96
11-N
eto
ing co
100 141 143
let 53 192.)
•
.10,, 51
53
Preferred
Short-Term Notes
100 101
uit: 85
Amal Copper 5s 191.3...A-o 10014 10034 1. Clallin (H B) Co comlt
_ i'
90
e let preferred
86
lO
Bait it Ohio 43455 191.i_J•0 9-134 10014
91
e 2d preferred
02
Bethleh Steel 6.9 1U14 ,_1l-)' 10234 1031,
BA, 87
(Ales it Ohio 4545s 1914 _J-I) 9914 9534 Consol Car Heating---100 75
80
Chic it Alton 55 1913 _M-s 9914 9034 Consol Rubber 'lire.., 100 1212 15
0814
Preferred
100 55
Chic Elev Bye 58 1914...1-3 08
,
59
'55
60
e l/ebenture4s
Cin Ham it I) 45 11113..:3-2
Crucible Steel
1758 1773
Erie Us April 8 1914 _A-Us
;
..
9
9
1017584
1
e Preferred
9
(3011 58 Oct 1 1:114
9413
A-0 109:1
100 94
9812 I/9
Davis-Daiy Copper Co__ Di *214 212.
Coll 5s April 1 1015_
eCieneral Motors 68 '15.A &u 9912 100 e Diamond Match Co_ __10.) 107 108 ,
993,
10014 duPont( 1) de Nem Pow 10u 195 205
Hudson Companiesis Preferred
6s Feb 1 1913
F-A
9512 9913
o,
e Gold 4
tts Oct 15 1913 „A&010 9954 wk
1036
3
1-11)
10 8818 8812
III Cent 4545s 1914___J&
5
10
9958 1-h,78 Empire Stee. it Iron corn 100
9814
Preferred
98
100 35
40
Int it (It Nor 5s 1914 F-A
e General Chemical corn Ulu 170
Inter Harvester bs •15_F&A 10038
e Preferred
10 11112
K C Ry it Lt tts 1912_31-6
Joodricn (B F) Co corn 100 79
6
03
1
9%
2
7912
Minn it 81 1. g 5s 1913 F-A
Preferre,
9914
1081: 10914
09
Mo Kan it Tex 58 1913 M-N
*10
96
Ureene-Cananea
1014
Missouri Pacific 5s 1914 3 LI 95
IU21:
Nat Itys ol Mex 43-ss '13.J-11
4 981
: C Hackensack Water Co981
Ref g 45 '52 op 1912.__J-J 87
89
eN IC Lines Eq 5.9 1912.2: 9412% 4 su
8
7
4345s Jan 1913-1925_._J- 04 _% 4.40 Havana fot)acco Co.....100
15
Prelerred
100 10
45455 Jan 1)13-192/
J-J I % 4 4,,
65
1st g 53 June 1 1922 1-D 1 62
N Y Cent 435s 1914___M-s 9934 190
St L it 8 F 5s 1913 opt J-i) 9.114 10014 tlecker-Jones-Jewell
102 104
1st Os 1922
South lty g 55 1913
F-A 19018 10,12
20
uU
94
Herring-Han-Marvin _100 10
Wabash 4
Westingh'se El it M Os 1913 10118 1.l58 Hoboken Land dr Improve t
1st tai Nov 1930
51-1'. 103 105
e 5% notes Oct 1917.41-0 908 08
Hocking Val Products..100 10
12
1st g 55 1961
Railroad
58
62
J-J
23
Houston 011 corn ctlis
e Chia it Alton com___100 18
1412 1514
10u
50
Pref ctfs
e Preferred
10o 36
10. 7012 71
130 135 e Ingersoil-ltand com
e Chic St P SI it Om_
10u 105
142
1
55
102 .
e Preferred
e Preferred
100 98
10, 13
-121: -1312
intercontin Rub corn. 10u
e Colo it South corn....100
77
Internat Banking Co. 100 85
e 1st preferred
11.10 72
00
75
internatIonm Nickei___100 320 330
e 2d preferred
100 65
59
Preferred
e N Y Chic it St L corn -100 56
luu 117 125
1st g 5s 1932
A-U 10912 110
• 1st preferred
100 103
90 International Salt
100
2
4
• e 2d preferred.......100 84
lit g 53 1951
56
A-(4 153
Northern Securities Stubs.
International Silver coin 100 120
35
Pitts Hess it Lake Erie..50 *30
1291:
10u
72
Preferred
Preferred
5o *60
let 65 1948
.
..J-b 110 111.
• Railroad Scour-ties(
.
08314 89
Internal Smelt it Itelg. 00 12212 1254
11) C stk tr ats Ser A.
91
West Par 1st 5s 193:
8234 8414 Kayser (Julius) it Co...100 88
10u 110 112
1st preferred
Standard Oil Stocks
.1914
20 e Lackawanna Steel..._10t1 3812 40 .
Anglo-American 011
.£1
8034
e 1st con 58 1950
M-b 80
Atlantic Refining
100 480 190
94
e Deb 5s 1915,
M-s 93
Borne-Scrymser Co
100 lbJ 200
Lanston Monotype.
lOu 9134 93
Buckeye Pipe Line Co_ _50 •175 • 183
Lawyers' Mtge Co
100 222 225
Chesebrough Big cons..100 825 a5
Lehigh Val Coal Sales _50 240 244
Colonial Oil
100 150 200
4634 47
Continental Oil
100 850 350 eLoose-W Hes 131scult comlOu
1140 10334 10412
69
• 1st preferred
Crescent Pipe Line Co
50 .63
9234
100 92
75
e 20 prefer'',d
Cumberland Pipe Line_100 65
*212 712
Madison Sq (lard -,n Stubs _
Eureka Pipe Line Co...10u 400 420
212
Manhattan Trans.t
20 *2
Galena-Signal Oil com _.100 233 239
Monongabeialt Con C&C.50 .1'1512
Preferred
100 140 150
•
Preferred
*45
Indiana Pipe Line Co. 50 *110 115
100 106 ifc
National Transit Co
25 *1312 4412 Mortgage Bond Co
e National Surety,
New York Transit Co_ ..100 370 l80
100 225 230
Northern Pipe Line Co_100 145 150 e New York Dock com_100 19
e Preferred
Ohio Oil Co
23 *104 106
45
100
Prairie 011 & Gas
N Y Mtge it Secority___1011 208 - 21213
100 300 310
6
Solar Refining
N Y Transportation.
20 *8
100 590 020
Niles-Bent-Pond corn. 100 87
Southern Pipe Line Co.,100 250 260
90
south Penn Oil
NIpissIng Mines
5 *734 774
100 705 /30
Ohio Copper Co
Sou West Pa Pipe Lines 100 168 1/8
10
034 114
IOU
Standard Oil of Calif. 100 190 200 e Ontario Silver
112 2
76
Otis Elevator coin
100 72
Stand Oil of Indiana. _100 238 242
Preferred
113. 101 10212
Standard Oil of hansas_10(1 325 330
918
Pittsburgh Brewing
50 *9
Stand 011 of Kentucky 100 330 350
Preferred
00 *2812
Stand 011 of Nebraska.,100 275 290
e Pittsburgh Steel pref..1(10 10112 10234
Stand 011 of NJ(old).. 100 970 )95
100 30
Pope Mfg Co corn
31
100 387 330
Stand 011 of N J.. _
74
Preferred
580 620
77
Standard OIL subsidiaries.....
Pratt & Whitney pref
1111) 101
503 412
Standard 011 of N
Producers 011
100 120
Standard Oil of Ohio, 100 196 205
Realty Assoc (liklyn) 100 114 118
1014 190 220
Swan it Finch
Royal Halt Powd com
100 210 215
Warrants (when Issued). •J0 120
Preferred
100 109 111
Union Tank LIneCo
100
e Rurnely (Id) Co pre! _100 102 104
loll
Vacuum Oil
384
5 safety Car Heat it Lt___100 117 118
5 166
10 *20
Washington 011
Waters-Pierce Oil
100 1100 1.600 e Seears,ltoebuck & Co_100 19514 196 •
Preferred
Ulu 12312
tobacco Stocks
Singer Mfg Co
100 283 287
(See also Stock ExchangeList)
South Iron it S corn_ _100
1
2.
British-American Tobac..1:1 •52078 21
2
4
Preferred
100
Conley Foil
100 200 .3,10
40
Standard Coupler conf 10u 30
e Helms (Geo W) com 10.) 177 1.17
,
1
1.
10
0 2
Preferred
100 108 112
e Preferred
100 18
e Standard Milling Co_ 100 3112 3213
Johnson Tin Foil it Metal 100
e Preiet red
100 6312 65
M ao Andrews it Forbes 100 205 210
88
e 1st 58 1930.
Porto-Rican-Amer 'fob_ HA) 260 270
89
Reynolds(R.1) Tobacco.100 270 280 Stern Bros pref_____ 100 86
Suizberger it Sons Co pf 100 9912 101
United Cigar Stores CorplOu 281 286
100 99 102
9238 1/258 texas it Pacific Coai
New coin when issued.._
New peef when issued__ 120 1201: Texas Pacific Land Tr 100 91
100 120 125
Vale Ins Co of N 1,
• Weyman Bruton Co. 100 225 460
lonopah Min (Nevada) „1 *634
100 113 115
e Preferred
4
7
frenton Potteries com _100
Young (J S) Co..1011 180 195
50
55
Preferred new
Industrial and Miscellaneous
101 25
40
84
frow Directory
Adams Hap g 4s 1947_J-D 1 83
U 42
43
Union Typewriter corn 100
Alliance Realty
IOU 118 120
109 111
1st preferred
Amer Bank Note com.....50
IOU 10712 110
5542
•.12
6
20 preferred
Preferred
50 .
IOU • 1, 1
United Copper.
American Boo'.e
100 169 173
100
15
Preferred
American Brass
100 135 140
100 195 205
U 8 CasualtY
American Chicle corn. 100 223 227
1:110 98 103
Preferred
U S Envelope corn.
100 105 108
117 11913
Preferred
4 0
Am Graphophone corn._100 3/12
100 93
96
83 e U 8 Express
Preferred
luu 75
100 85
90
30
812 10
39
212 U 8 Finishing
American Hardware...J.0u 10
10u 100 105
erru
ed
rertefg
Amer Malting 6.1 1914_J-D
J-J 100 105
Amer Press Assoc'n
_ 77
95 100
Con g 58 1029
Am Steel Fdy 6., 1935 A-0 9912 10312
100 42
48
e U S Indust Alcohol
72
Deb 45 1923
F-A 69
102 105
e Preferred
Atnerican Surety
50 320
U 8 Steel CorporationAmerican Thread pref....5 *412 5
Col s f Apr 53 1951 op 1911 114 11458
48
Amer Typefounders com 100 46
Col s. Apr 5s 1951 not opt 114 11478
Preferred
100 100 103
100 00
95
U 8 Tit Gu it Indem
Deb g 6s 1939
111-N 10012 102
t10
c
234 312 Westchester dr Bronx Ti0
Amer Writing Paper.. _100
Guar
160 166
Mtge
it
4
903
elst s f g 55'19 red 105...1-3 £10
738
WestIngh'se Air Brake .50 *139 140
Atl Gulf it W I 8.4 Lines 100
e Woolworth (F W)Co. lot) 9212 93
Preferred
100
Preferred loco p1 100 113 11412
Coll tr g as 1939
.J-J
63
106 109
t
W rP
6
20
4
Barney it Smith Can com100 10
Preferred
100 70 8.1
•Per share. S Basis. e Sells on Stock Exchange; see sales-record on a preceding page. 1 Flat price. o Nominal. s Sale price.
u Flrst Instaiment paid. x Ex-div. y Ha-rights. s Includes all new stook dividends and subscriptions.
I New stook.
231
THE CHRONICLE
JULY 27 19121
$nuestment anti lgatirciad txtelligence.
RAILROAD GROSS EARNINGS.
from whieh regular weekly or monthly returns
The following table shows the gros4 earnings of every STEA‘f railroad for the latest week or month, and the last two
can be obtained, The first two coin tins of figures give the gross earnings
such latest week or month. 1Ve add a supplementary
columns the earnings for the period iron July 1 to and including
whose fiscal year does not begin with .July, but covers some other
statement to show the fiscal year totals of thoie roads
together separately on a subsequent p tie.
period. The returns of the electric railw,lys are brought
Latest Gross Earnings.
ROADS.
14 eek or
Month
Clirren.
Yegr
Prt Digits
Year.
Latrst Gross Earnings,
Jv'y 1 to La:est Dc:e.
Ct..-rca.
Year.
Previous
Year
ROADS.
t. eek or
Month.
Current
Year,
Precious
Year.
Juli 1 to Latest Date.
Current
Year.
Previous
Year.
S
S
$
4
Ala N 0 Fe ex Pa,5,482,404 5,179,669 59,105,855 56,580,574
May
NY N 11 & Hartf
311,240 263,211 :1,880,676 3,595,917 N Y Ont &
791,108 7,730,415 8,497,466
N 0 & Nor East_ .Tune
465,280
May
West__
1,773,841
124,866 123,346 1,638,004
Ala & Vicksburg_ June
235,145 340,481 3,374,288 3,556,859
N Y Susq Fe Vest.... May
106,092 102,274 1,389,028 1,487,367
Vick Shrev & Pac .June
303,444 257,812 2,984.132 2,697,260
80,418 Norfolk Southern.... May
85,427
38,827
41,579
2d wk July
2,951,247 36,277,915 32,661,912
Ann Arbor
3,524,955
May
&
Norfolk
Western
9,213,695 8,783,037 99,083,649 99,223,696 Northern Pacific_ __ May
Atch Topeka & S Fe May •
5.127,545 5,091,856 37.909,507 59,852,579
105,282
108,460
52,641
53,503
596,065 6,839,095 7,120,583
Atlanta Birm & At) 2d wk July
571,839
May
Pacific
Coast
Co___
29,290,320
, 10,935,738
Atlantic Coast Line May..... 2,898,62( 2,588,31,
140/6824 13240 683 150009 638 144312 117
a UR .... May
150,955 155,313 1,813,639 1,798,120 Pennsylvani
244,942
255.275
21,621
Chariest'n & VS Car May
26,800
Bait Ches & Atlan May
1,110.037
1,184,927
101,474
110,311
Louis Hen & St I. May
270,260 234,598 2,752,039 2,781,898
Cumberland Vail.. May
8,314,833 7,401,707. 42,594,323 88,145,004
9,124,542
9,650,108
951,670
gBaltImore & 01110_ June
932,466
May
Long Island_-_
106,591 1,415,573 1,333,891
127,130
119,678
122,915
9,704
B & 0 Ch Ter ft. May
11,125
Maryl'd Del & Va May
242,718 257,118 3,111,023 2,896,065
Bangor & Aroostook May
327,843 297,097 3,066,013 3,073,779
N V Phila & Noel may
1,023,744 753,694 7,408,212 6,664,056
11,862.497
11,471,184
923.792
1.102,313
Bessemer & Lake F. May
Northern Central May
3,859,051 3,879,81- 12,018,443 10,052,054
Boston & Maine_ _ May
1.666,591 1,655,821 17,542,140 17,440,119
Phila. Bait &Wash May
47,178
50,985
3,907
3,713
Bridgeton & Saco It May
500,017 511,220 5,741,042 5,582,438
W Jersey & Seash May
587,448
596.453
195,816
4,394,355 49,058,608 47,952,765
Buff Hoch & Pittsb_ 3d wk July 223,083 214,538
5,115,081
2,132,562 2,170,145 Pennsylvania Co...... May
.162,400
415.1,2 358,707 4,762,918 4.695,003
Buffalo & Susq_ _ _ _ May
May
&
Grand
Rap
Ind
1.048.200
1,254,700
337,000
37,188,672 35,824,314
Canadian Northern _ 3d wk July 426,100
3,106,196
3,359,464
May
&
St
C
L..
C
Pitts
6,386,000
Canadian Pacific.. __ 3d wk July 2,593,000 2,120,000 7,865,000
742,887 771.293 9,179.697 9,626,155
May
Vandalla _
446,900
510,600
wk July 263,200 215,800
Central of Georgia_ _
lines
Total
2,956,886
3,167,020
327,773
252,194
Central New Engl'd May ___ _
20077 712 19210 462 212944 023 206848 759
East Pitts & E_ May
1,870,028 2,510,160 26,700,934 26,737,960
Cent of New Jersey_ May
4,730,906 8,722,673 103208 293 100850 292
West Pitts & E May
335,284 354,849 3,732,915 3,626,828
Central Vermont.... May
2981(86111 27933 135 316152 319 307699 053
May
&West
All
East
1,755,944
1,694,407
629,180 622,474
Ches Fc Ohio Lines_ 3d wk July
1.347,977 1,342,713 10,676,428 15,986,808
June
_
__
610,949 Pere Marquette_
543,082
207,364 339,774
Chicago & Alton_ __ 2d wit July
Company-Reading
81,284,819
/9,838,701
6,956,601
1,650,535
Chic Burl & Quincy may - - 3,224,803 4,061,254 41,517,114 41,841,579
May
Reading_
&
Phila.
500,291
499,835
p Chic Great West_ 2d wk July 276,539 265,777
755,243 2,956,714 32,580,797 32,212,429
Coal & Iron Co__ May
364,496
361,230
Chic Ind & Louisv_ 3d wk July 124,715 127,800
1,980,016 7,017,968 74,097,911 74,054,008
May
Total both cos_
1.936,863 5,040,680 57,795,985 59,793,732
Chic 11111w & St Paul May
278,271 241,110 2,335,860 2,165,018
May
Potom
Fe
Fred
Rich
1,428,654 1,170,731 14,659,720 13,252,515
902,279
Chic Mil & PugSd May
908,239
78,757
76,649
May
7,313,883 7,074,767 76,919,330 77,897,975 Rio Grande Junc_
19,475
22,574
vChic & North West June
9,336
10,611
July
wk
2d
South__
Rio
Grande
14,975,760
14,023,890
1,215,364 1,198,01.,
May _
62,347,073
vehic St Paul 51 &
58,635,934
5,155,627
4,899,145
May
Lines
Island
96,629 137,525 1,609,486 1,863,589 Rock
3,130,399
Chicago I` II & S E_ MaY
3,156,268
292,352
302,291
-- May ___
856,768 836,580 0,861,320 9,570,281 Rutland
On Ham & Dayton Juno
121.200 142,758 1,438,314 1,574,807
May
138,030 150,157 1,696,89:1 1,772,161 St Jos & Grand Isl.. May
Colorado Midland_ _ May
3,378,469 3,301,176 38,713,362 39,842,154
764,170 St Louis & San Fran
670,178
b Colorado & South_ 3d wk July 232,333 273,212
1,035,493 1,108,308 14,008,995 13,801,971
Ill_ May
&
East
Chic
152,702
179,063
16,930
17,970
May
Cornwall
4,413,962 4,409,485 52,722,356 53,644,126
May
Total all lines
301,178
278,369
25,337
25,693
Cornwall & Lebanon May
153,324 160,782 1,819,138 1,938,853
Rocky Mt & P_ May _ _ _
380,854 267,506 3,500,435 2,796.696 St L
May _
556,000
697.000
Cuba Railroad
St Louis Southwest.. 3d wk July 243,000 188,000
19,205,433
18,967,634
1,821,045
1,423,506
851,916 8,233,388 7,558,885
Delaware Fc Hudson May
884,189
May
L_
&
S
LA
Ped
San
32,737,003
12,240,688
2,400,372 3,110,664
798,817
831,896
373,160
Del Lack Fe West__ Slay
391,665
July
wk
2d
Line....
1,326,000 1,303,500 Seaboard Air
Deny & Rio Grande 3d wk July 440,100 430,900 4,789,240
11032 945 10610 022 120984 339 122139 802
Southern Pacific Co Slay
448,827
3,480,495 3,282,933
Western Pacific_ _ May
1,089,653
1,160,409
July
wk
3d
_
Railway_
Southern
952,105
79,311 1,003,208
77,861
379,735
400,497
Denver N W & Pao_ May
Mobile & Ohio__ _ 2d wk July 210,982 196.671
38,572 1,624,633 1,671,328
40,414
323,292
330,008
Detroit' Tol & Irma 4th wkMay
Cin N 0 & Tex P_ 2d wk July 167,383 163,130
68,243
71,070
22,219
23,013
153,986
156,932
Detroit & Mackinac 3d wk July
78,190
78.394
July
wk
2d
South..
Great
Ala
6,502,451
807,264 696,932 5,731,202
88,848 ,
Dul & Iron ltange_ _ May
85,697
44,424
44,007
July
Georgia Sou & Fla 20 wk
133,718
136,978
65,862
72,154
Dul Sou Shore & Atl 2d wk July
391,317 449,219 4,407,512 4,312,783
May
Seatt_
&
Port'
Spok
7,354,776
9,566,207
697,099
1,110,312
Elgin Joliet & East_ May
2,173 ,
2,720
2,173
2.720
July
wit
1st
&
Georgia
Ala
Tenn
708,013 617,865 6,957,656 6,634,538
El Paso & Sou West slay
145.886 138,408 1,411,148 1,392,2751
4,285,537 1,834,975 51,463,264 51,740,311 Tennessee Central-. May July 273,350 240,546
May
Erie
734,372 j
767,848
wk
3d
_
&
Pacific...._
Texas
23,421
31,175
1,895
2,540
82,409 I
Fairchild & N E___ June
89,504
9,805
9.716
442,453 329,594 4,079,521 3,897,114 Tidewater & West_ Maywit July
39,757
Florida East Coast.. May
40,813
20,767
21,369
864,421 Toledo Peor & West 2d
846,602
89,308
74,291
114,833
129,438
Fonda Johns & Glov May _
81,643
68,013
July
wk
2d
West
&
L
St
Toledo
3,000,474
243,128 238,628 3,155,761
81,855,506
79,071,682
Georgia Railroad._ May
6,963,095
6,974,180
May
Union Pacific Syst_
Grand Trunk Syst_ _ 3d wk July 1,047,951 060,016 3,007,865 2,897,911
157,807 126,386 1,604,769 1,261,617
127,896 Virginia & So West.. May
129,799
Grand Trk West_ 1st wk July 129,794 127,896
462 878 342,263 4,448,366 3,290,530
May
Virginian
40,981
42,490
40,981
42,499
Det Gr Hay & Mil 1st wk July
2,502,647 28,343,707 29,884,038
2,390,320
June
43,696 Wabash
41,891
43,696
41,891
Canada Atlantic_ 1st wk July
625,837 607,345 6,647,810 6,593,982
Western Maryland_ May
5,756,498 5,537,324 66,086,585 61,234,191
at Northern Syst June
590,295 7,498,146 6,800,707
706,361
June
Erie_
Lake
&
Wheel
170,010 106,218 1,831,680 1,851,228
& Ship Island_ May
327,112
348,993
16,719
16,380
Wrig-htsv & Tennille -Tune
652,816 567,446 11,637,452 6,589,161
Citing Valley____ May
732,429 730,541 9,651,421 10,817,549
____.
June
Valley
Miss
Fe
Yazoo
62,560,227
5,160,214 4,901,492 59,117,096
Illinois Central ___ _ June
380,000
489,000
Previous
Internat & Get Nor_ 3d wk July 168,000 123,000
Curren,
311,698
349,680
Year.
Year
a InteroceanIc Mex_ 2d wk July 179,240 153,039
Period.
Various Fiscal Years,
295,950 268,721 2,848,322 2,835,634
Kanawha & Mich__ May
775,432 771,842 9,408,053 10,125,582
Kansas City South.. Juno
2,300,711 3,519,575 33,256,742 33,999,731
May
Lehigh Valley
to May 31 7,833,716 8,443,367
Jan
430,228 Delaware & Hudson
513,326
54,547
54,722
Lexington & East_ _ May
to May 31 41.418,443 39,963,315
Itiver_e_ Jan
148,842 125,139 1,363,215 1,334,319 N Y Central & Hudson
Louisiana & Arkan_ Slay
to May 31 20,612,321 18,793,076
Lake Shore & Michigan South Jan
s Louisville & Nash_ 3d wIc July 1,032,945 996,640 2,008,370 2,919,835
to May 31 2,206,514 2,117,546
Jan
.....
Western_n
Fe
Erie
Lake
154,995
164,783
8,844
9,853
Macon & Birm'ham June
to May 31 1,710,600 1,580,324
Jan
Southern..
&
Chicago Indiana
854,702 843,273 9,729,721 9,046,798
May
Maine Central_
to May 31 12,620,115 11,664,629
Jan
Central
Michigan
404,736
408,623
39,417
38,926
Maryland Fe Penna.. May _
to May 31 12,160,584 11,976,596
Jan
Louis..
St
&
Chicago
Gin
Cleve
159,500
170,400
a Mexican Railway_ 1st wk July 170,400 159.500
to May 31 1,239,708 1,322,067
Jan
Peoria & Eastern_
26,323
25,901
13,422
15,112
20 wk July
441.790
516,578
Mineral Range
to May 31
Jan
_
Northern
Cincinnati
277,712
327,108
138,670
Minn ec St Louls....1 2d wk July 116,918
to May 31 6,464,046 5,614,845
Jan
Erie..
Lake
&
Pittsburgh
4,437,214
Iowa Central__
4,693.815
31
May
to
Jan
New York Chicago & St Louis
Minn St I' &SSM1 3d wk July 490,414 466,320 1,510,576 1,381,280
to May 31 1,915,499 1,682,589
___ Jan
Toledo & Ohio Central
Chicago Division
to May 31 105558 223 99,593,991
Jan
Total all lines
844,177
807,455
74,808
74,445
Mississippi Central_ May
to May 31 67,847,928 62,403,693
Jan
Railroad
80,200
86,988
Mo Kan & Texas.. 3d wk July 489,195 487,235 1,381,802 1,384,934 PennsylvaniaChesap & Atlantic.. Jan
to Slay 31
Baltimore
_ 3d wk July 1,160.000 1,029,000 3,090,506 3,000,570
Missouri Pacific_
to May 31 1,251,990 1,145,382
Jan
Cumberland Valley
1,104,949 1,057,749 11,266,817 11,371,865
3,659,428
Nashv Chatt & St L May
31
3,815,752
to May
Jan
Long Island
38,018
37,659
a Nat Rys of Mex_t_ 2d wk July 961,854 1,304,816 1,892,062 2,520,169
to May 31
Maryland Delaware &Virginia Jan
13,054
22,912
6,730
10,875
Nevada-Cal-Oregon '2d wk July
to May 31 1,338,034 1,299,740
Jan
N V Philadelphia & Norfolk
145,515 146,028 1,489,826 1,555,335
N 0 Great Northern May
to May 31 4,933,119 5,202,138
Jan
Central_
Northern
1,688,545
1,826,881
145,053
203,080
N 0 Mobile & Chic.. May
to May 31 7,747.234 7,480,980
Philadelphia Halt & Wash...... Jan
8,701,607 8 146,205 96,564,642 92,900,996
9 N Y C & Hud lIly May
to May 31 2,080,763 2,025,255
... Jan
____
West Jersey & Seashore...
4,144,900 3 911,376 46,228,275 44,500,159
Lake Shore & M S May
to May 31 21,587.428 19,549,734
Jan
........
Company
a
5,059,989
Pennsylvani
5,103,166
W..
May
436,054 435,702
a Lake Erie &
to May 31 2.076,413 1,969,032
Jan
-Indiana
Ac
Rapids
Grand
299,914 215,991 3,660,364 3,394,231
Chic Intl Fc South May
to May 31 16,690,353 14.951,612
Jan
Pittsb Cinein Chic & St Louis_
2,521,346 2 337,916 28,725,190 27,372.041
Michigan Central May
to May 31 3,979,366 3,973,709
Jan
Vandalia
28,218,329
28,166,613
2,424,607 2 444,883
Cleve CC & St L.. May
to May 31 93.874,044 87,923,614
Jan
Erie
&
Pitts
-East
Total lines
235,749 269,257 2,893,712 3,266,376
Peoria& Eastern May
to May 31 44,815,687 40,881,427
Jan
West l'itts &Erie
93,779
1,2,190 1,224,571 1,146,102
Cincinnati North_ May
to May 31 138689 732 128805 042
Ian
W..
&
E
lines
All
14,383,922
1,491,288 1,235,078 14,835,309
424,148
423,872
Pitts & Lake Erie May
to May 31
Dec
Junction
957,212 877,445 10,560,016 10,226,557 Rio Grande
N Y Chic & St L.. May
to May 31 1,313,381 1,266,909
Jan
425,478 373,434 4,745,872 4,606,889 Rutland
Tol & Ohio Cent.. May
21 8,557,783 7,667,725
July
to
Jan
Pacific
&
615
Texas
235075
21731 034 10739 483 242707 733
Totall lines above May
r
AGGREGATES OF GROSS EARNINGS-Weekly and donthly.
ICuent Year Prev's Year Inc. or Dec. %
Monthly Summaries,
3
s
1
Prey.
Yr.
Yr.!
Cur,
Mtleaoe.
3
S
$
+507,987 0.19
September-245.494 240,825 257,256.70' 256,748,775
1st week May (42 roads)-- 13,332,998 12,078,139 +1,254,859 10.42
,266.064,129 263,637,356 +2,426.773 0.92
241,321
_245.633
9.75
October
+1,202,756
0.72
20 week May (40 roads)---- 13,539,914 12,337,158
November __234,20.) 231,563, 211,343.763 143,111,38R -1,767,625
3d week May (43 roads).--- 14,007,892 12,432,657 +1,575,235 12.67
+1.339.735 0.51
December ....238,561 235.685 233,614,912 232.275,177 -2,440,307
I.1
4th week May (41 roads) ___ - 19,535,402 17,972,712 +1,562,690 8.70
234,402 210,704,771 213.145,078
___237,888
8.75
January
+845,955
+20.752,155 10.51
1st week June (41 roads)..__ 13,381,042 12,535,087
February -237,0113 233,191 21,4.031.091 197,278,939 +12.955,678 5.71
+855,006 6.59
_ 13,839,647 12,984,641
2d week June (41 roa(is)
224,608,654
238,218 234.692 237,564,332
+905,666 6.97 March
3d week June (41 roads)..__ 14,073,731 13,168,065
236,722 233,057 220,678,465 216,140,214 +4,538,251 2.11
AprIl
+299,117 1.63
4th week June (41 roads)__.... 18,264,980 17,965,863
235,410 231,597 232,229,364 226.181,666 +6,044.698 2.61
May
+324,846 2.50
1st week July (40 roads) ____ 13,143,297 12,818,451
88.193 68.820.679 64,667,757 +4,152,922 6.31
89.764
+663.638 5.00 June
_ 13,934,880 13,271,242
2d week July (40 roads) _
District Ry., from Nov 1 1911: in 1910 these returna
Creek
Cripple
&
Springs
Colorado
of
a Mexican currency. b Does not Inc tide earnings
& N. Y. Ry., the latter
& Ottawa, the St. Lawrence & Adirondack and the Ottawa
are included. e Includes the Boston & Albany. the New York
Includes Evansville & Terre Haute and Evans*
the Inter-State Commerce Commission. the
of which, being a Canadian road, does not make returns toWheeling
Ohio RR. p Includes earnings of
n
Northern
Includes
years.
both
in
Ry.
t Includes the MaxiVille 63 Indiana RR. g Includes the Cleveland Lorain &
Includes Louisville & Atlantio and the Frankfort & Cincinnati.
receipts.
,Mason City & Ft. Dodge and Wisconsin Minnesota & Pacific. s
all other
revenues, but also
_ _
International from July 1010. u Includes the Texas Central. v Includes not only operating
Weekly Summaries.
Cur at Year Prey's Year Inc. or Dec.
%
I
can
232
THE CHRONICLE
Latest Gross Earnings by Weqlcs.-In the table whieh
follows we sum up separately the earnings for the second week
of, July. The,table covers_ 40 roads and shows 5.00% increase in the aggregate over the same week last year.
second week,of July.
1912.
Alabama Great.SOuthern
Ann Arbor
Atlanta Birmingham & Atlantic
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia
Chesapeake & Ohl0
Chicago & Alton
Chicago Great Western
Chicago Indianapolis & Louisv_
Cin New Orleans & Tex Pacific_
Colorado & Southern
Denver & Rio Grande
Detroit & Mackinac
Duluth South Shore & Atlantic
Georgia. Southern & Florida__ _
Grand Trunk of Canada
'Grand Trunk Western
Detroit Grand Haven & Mil
Canada Atlantic
International & Great Northern
Interoceanic of Mexico
Louisville & Nashville
Mineral Range
Minneapolis & St Louts
Iowa Central
Minneapolis St P ea 8.8 M
Missouri Kansas & Texas
Missouri Pacific
Mobile & Ohio
National Flys of Mexico.
Nevada-California-Oregon _ _ _ _
Rio Grande Southern
St Louis Southwestern
Seaboard'Air Line
Southern Railway
Texas & Pacific)
Toledo Peoria & Western
Toledo St.Louls & Western_ _ _ _
Total (40 roads)
Net increase (5.00%)
Name of
Road.
Latest Gross Earnings.
Week or
Month.
Current Previous
Year.
Year.
Jan. 1 to latest dale.
Current
Year.
Previous
Year.
$
$
$
$
Milw El By & Lt Co_ April
448,760 395,571 1,780.574 1,575,886
Milw Lt, Ht & Tr Co- April.
88.390 76,945
337,357
298,824
Nashville fly & Light April
138,976 161.228
663.697
631,374
N Y City Interboro__ March
34.376
22,006
98,216
62,499
N Y & Long Is! Tears_ March
28.864
27.124
77,371
74,761
N Y & Queens Co__ March
96,564 89,936
272,140
250,082
New York Railways_ April
1157,654 1120,081 4,397,516 4,314,224
Northam Easton & W May
_
15,560
15,136 •
66,574
59,730
North Ohio Tress & Lt June
276,961 245,097 1,377,335 1,222,675
North Texas Elec Co_ May
148,060 136,227
650,371
638,943
Ocean Electric (L 1)- March- -5,137
3,692
9,957
13.352
43,831 Paducah Trac& Lt Co May
21,417 21,350
116,321
105,835
42,410, Pensacola Electric Co May
24,141
114,217
23,844
114,108
Phila. Rap Trans Co__ June
1990,225 1901,032 11,356,183 10,796,934
Port(Ore)Ry.L&PCo. May
543,813 527,931 2,669,653 2,560,045
PugetSd Trac,Lt& P April
669,409
2,742,918
24,832 Richmond Lt & RR_ March ____
24,745 22,563
70,699
67,060
Rio de Janeiro Tram
Light & Power Co_ May -----1215,837 1096,947 5,764,134 5,035,809
St Joseph (Mo) Ry.Lt
Heat & Power Co_ May
417
94,248 88.759
473,233
435.301
Sao Paulo Tram,L&P June
367,799 282,558 2,212,348 1,684,253
Savannah Electric Co May
_
63,524
56,777
298,007
270,338
Second Avenue (Flee) March ____
73,749 65,040 • 210,402
185,929
Southern Boulevard_ March ___
10,074
8,619
27,677
24,202
Sou Wisconsin By Co Tune
18,318 20,528
107,049
95,591
Staten IsI'd Midland_ March
17,482
16,098
49,329
46,103
Tamna Electric Co__ May
63,365 55,302
308,227
277,974
Third Avenue (Bee). March
314,012 290,411
910,318
841,262
Tr -City By & Lt Co_ May
• 229.424 207,212 1,203,603 1,101,449
Twin City Rap Tran_ 2d wit July 152,560 153,600 4,232,615 4,110,375
Underground Elec By
of LondonThree tube lines__ _ Wk July 20 £12,335 £12,530 £404,330 £410,640
9,000
Metropolitan Dist_ Wk July 20 £12,035 £11,460 £365,485 £353,647
United Tramways_ Wk July 20 £7,398 £7,986 £181,881 £188,220
342,962
London Gen'l Bus_ Wk July 20 £59,571 £43,534 £1,303,627 £1,071,163
Union (Flee)
March ____ 189,306 168,446
540,976
487,083
UnlonRy•G &ECo(Ill) May
275,795 256,574 1,478,605 1,281,049
United Rys of St L__ May
1083,014 1053.826 4,901,759 4,794,945
United RRs of San Fr May
720,462 607,730 3,416,556 3,193,666
Westchester El (Roe) March
43,793 42,350
124,835
119,029
Yonkers RR (Rec)__ March ___d 55,525 50,517
157,858
144,286
Vonnest
&
Ohio
Riv_ Anril
13,630
17.755 17.492
•
71.288
58 482
c These figures are for consolidated company.
477,082
Increase. Decrease.
1911.
78,394
78,190
41,579
38,827
53,503
52,641
205,676
195,816
436,700
364,700
2,701,000 2,170,000
' 263,200
215,800
569,585
613,413
• 297,364
339,774
276.539
265,777
120,310
120,496
167,383
163,130
228,477
253,309
449,100
437,100
24,062
22,377
72.154
65,862
44,007
44.424
204
2,752
862
9,800
72,000
531,000
47,400
10,762
186
4,253
12,000
1,085
6,292
1,037,863
994,800
43,063
162,000
179,240
1,002,075
15,112
166,918
138,000
153.039
967,320
13,422
138,670
24,000
26,201
34,755
1,690
28,248
518,138
456,114
466,739
451,088
1,030,000 1,048,000
210.982
196,671
961,854 1,304,816
10,875
6,730
10,615
9,336
232,000
182,000
391,365
373,160
1,157,006 1;050,514
243,699
254,197
21,369
20,767
68,013
81,643
62,024
15,651
1,1,311
4,145
1,279
50,000
18,505
106,492
10,408
602
13,934,880 13,271,242 1,140,720
663,638
Electric Railway Net Earnings.-The following table gives
the returns of ELECTRIC railway gross and net earnings
Net Earnings Monthly to Latest Dates.-The table fol- reported this week:
lowing shows the gross and net earnings of STEAM railroads
-Gross Earnings- -Net Earnings
and industrial companies reported this Week:
Current
• Previous
Current
Previous
Roads.
--Gross Earnings
Net Earnings
Current
Previous
Current
Previous
Roads.Year.
Year.
Year.
Year.
8
$
$
$
Baltimore & Ohlo_b___JUne 8,314,833 7,461,700 2,475,516
2,261,730
July 1 to June 30
92,504,323 88,145,004 27,884,785 25,378,937
Canadian Northern_ __ _June 1,769,500 1,465,600
421,700
318,200
July 1 to June 30
19,538,600 15,199,500 5,116,100 4,165,800
Chic & North West. _a_June /7,313,883 /7,074,767 2,656,050 2,520,157
July 1 to June 30
/76,919,330/47,897,975 20,794,649 21,769,231
Cin Ham & Daytona June 855,768
836,580
249,333
186,413
July 1 to June 30
9,861,320 9,570,281 2,146,393 1,702,716
Fairchild & Northeast.b.June
2,540
1,895
def2,408
26
July 1 to June 30
23,421
31,175
3,592 def11,540
Kansas City South_b_June
775,432
771,842
236,285
283,294
July 1 to June 30
9,408,953 10,125,582 2,984,271 3,622,952
Pere Marquette_ b
Juno 1,347,077 1,342,713
283,163
270,591
16,076,427 15,986,807 3,267,624 3,128,308
July 1 to June 30
Wrightsv & Tennille.b_June
16,380
16,710
def3,665
1,569
July 1 to June 30
348,993
327,112
94,611
100,932
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
I Includes not only operating revenue, but also all other receipts.
Interest Charges and Surplus.
-Int., Rentals, &c.- -Bat. of Net EarnsChic & North West_ _ __June
779,727
737,040 1,876,323 1,783,117
July 1 to June 30
9,327,318 9,166,131 11,467,331 12,603,100
Pere Marquette
June
394,897
385,633 ydef80,348 ydef37,068
July 1 to June 30
4,714,446 4,460,458ydf1979,680y(111813,761
x After allowing for other income received.
y After allowing for outside oper., hire of equip. and other income.
ELECTRIC RAILWAY AND TRACTION COMPANIES.
Name of
Road.
Latest Gross Eart trigs.
Week or
Month.
Current Previous
Year.
Year.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
$
1,775.041
103,365
639.8:35
215,069
46.304
146,440
39,541
5,142,745
124,708
173.249
140,853
413,874
368,045
127,953
420,53o
196,026
2,196,470
294.165
642,645
4,460,340
145.360
438,851
905,984
281,565
208.612
339,046
577,35p
451,713
1 ,318.541
8
$
$
American Rys Co_ _ _ _ May
398.320 399.207 1,871,872
Atlantic Shore fly__ _ May
25.207 26,660
115,009
cAur Elgin & Chic Ry May
159,262 152.751
681,118
Bangor Fly & Elec Co May
53,790 41,750
262,567
Baton Rouge Elec Co May _
13,901
10,110
59.090
Binghamton Railway May .__ _
33,677
35,371
165,157
Brock & Plym St Hy_ May
10,070
9,750
39,603
Bklyn Rap Tran Syst March
1888.677 1806,278 5,435,492
Cape Breton Elect Co May
27.651
28.578
131,567
Carolina Pow & Lt Co June
32,682 27,900
204,330
Cent Park N & E Riv March
51.435 48,639
144,640
Central Penn Trao_ _ _ June
78,905 76,324
437,151
Chattanooga fly & Lt May
88,888 77,738
409,089
Cleve Painesv & East May
•
33,673 33,138
129,553
Cley Southw & Colum May
100,777 96.484
435,173
Columbus (Ga) El Co May _____
43,372 41,418
214,168
Commonw P, Fly & L May
485,425 422,709 2,492,911
Coney Island & Bklyn March
104,745 103,575
301,181
Dallas Electric Corn_ May
15(1,064 132,585
690,140
Detroit United Ry __ _ 3d wit-June 222,473 205,089 5,010,652
D D E B & Batt(Rec) March
53.353 50,962
147,238
Duluth-Superior Trac May
96,050 98,007
450,536
East St Louis & Sub_ May
954,430
196,824 193,181
El Paso Electric_
May
312,422
59,836 54,161
Fairm & (larks Tr Co Anvil
65.227 53,186
243,232
42dStM&SNAv (flee) March,
141.960
141,960 119,602
307,111
Galv-Hous Eke Co__ May
_ 168,519 128,831
751.991
Grand Rapids Ry Co. May
102,627 98,137
484,640
Havana Electric Ry_ Wk July 21 49,422 45,510 1,394,577'
Honolulu ftaplo Tran
& Land Co
May
46,271
41,337
227,775
197,452
Houghton Co Trac Co May
24,088
24,107
117,234
117,528
Hudson & Manhattan March
455,691 389,729 1,345.600 1,138.396
Illinois Traction Co_ May
577,021 535,213 2,930,888 2,714,140
Interboro Rap Tran_ April
2806,389 2658,586 11,135,865 10,494.692
Jacksonville Trac Co_ May .....
52,515 47,625
250,846
245.427
Lake Shore Elm Ry_ May
107.140 105.322
466,336
444•636
•
Year.
Yesar.
Yesar.
$
American Light & Trac_June
315,150
313,662
306,151
Jan 1 to June 30
1,979,217 2,010,310 1,917,806
Central Pcnna Tract.. _ _Junc
78,905
76,324
21,037
Jan 1 to June 30
437,151
413,874
119,770
Northern Ohio Tr & Lt a June 276,961
245,097
122,472
Jan I to June 30
1,377,335 1,222,675
584,505
Sao Paulo Tram, L ec P_June
367,709
282,558
221,942
Jan 1 to June 30
2,212,348 1,684,253 1,336,439
United RRs.of San Fr_b_Apr 683,667
652,866
328,860
May
720,462
667,730
362,593
Jan 1 to May 31
3,416,556 3,193,666 1,646,001.
Virginia By & Power_ b_June
386,021
375,205
178,780
July 1 to June 30
4,558,194 4,336,206 2,135,290
Western fly & Light._ _Juno
182,981
163,922
67,355
July 1 to June 30
1,065,406
976,912
366,304
a Net earnings here given are after deducting taxes.
b Net earnings here givenare before deducting taxes.
ar.
Yes
304,772
1,954,364
23,288
117,077
110,114
525,652
173,301
1,060,466
289,836
298,272
1,393,877
156.452
1,904,530
57,221
340,605
Interest Charges and Surplus.
-Int., Rentals, &c.- -Bal. of Net Earns.
Northern Ohio Tr & Lt_June
43,817
44,333
78,655
65,781
Jan 1 to June 30
202,925
266,107
321,580
259,545
Virginia By & Power Co June
120,595
116.800
x64,534
x55,760
July 1 to June 30
1,423,202 1,396,943 x781,247
x643,883
Western By & Light___June
46,066
39,922
z23,039
x18,609
July 1 to June 30
262,016
239,062 x114,820 x109,399
x After allowing for other income received.
ANNUAL REPORTS,
Annual Reports.-The.following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since June 29.
• This index, which. is given monthly, does not include
reports in to-day's "Chronicle." Reports in Volume 94
are shown in heavy-faced type.
Industrials (concluded)RailroadsPage.
Page.
Conn. River Power Co., Boston_ 178
Baltimore & Ohio RR. (preliminary statement)
100 (Wm.) Cramp & Sons Ship &
Engine Building Co
Chicago ec Western Indiana RR.
42
-Belt By. of Chicago
1759 Cuyahoga Telephone Co
40
'Des Moines & Fort Dodge RR
100 Dominion Textile Co., Ltd.,Mon, 42
Manistee & Northeastern RR
39 Electric Properties Co
40
Federal Tel. & Tel. Co., Buffalo 44
Electric RailwaysAmerican Cities Co. (6 months
Fore River Shipbuilding Co_
42
ending Dec. 31 1911)
1760 Garland Corporation, Pittsburgh 42
Illinois Traction Co
172 Indiana Lighting Co
179
Kentucky Securities Corporation 176 Internat. Mere. Marine Co_ _1760
Lawyers' Mtge. Co.,N.Y.(Omos.) 174
Third Avenue RR., New York
(Receiver's Final Report) __ _ 172 MacAndrews & Forbes Co
_ 1761
Marconi's Wireless Telegraph
IndustrialsCo., Ltd., London
Amer. Book Co.(bal. sh. Jan. 1) 44
173
Amer. & Brit. Mfg. Co., Prov
43 (W. H.) McElwain Co., Boston_ 41
Amer. Car & Fdy. Co., N. Y _1760 Montreal Cotton Co.-Montreal
Cottons, Ltd
Amer. Dist. Teleg, Co., N. Y
45
42
American Glue Co
173 National Grocer Co., Detroit__ _ 46
American Hardware CorporaNebraska Telephone Co
45
tion, New Britain, Conn
44 Nevada Consol. Copper Co.__ _ 46
Amer. Pncum.Service Co., Bos_ 39 Nipissing Mines Co. (of Maine) _ 174
Amer.Thermos BottleCo.(of.Me.) 44 No. Butte Mining Co., Duluth_ 43
American Thread Co
173 O'Gara Coal Co. and Saline Co..
American Wringer Co
Harrisburg, Ill
43
43
Anglo-Am .011 Co., Ltd.,London. 174 Oklahoma Natural Gas Co
47
Automatic Electric Co., Chicago 44 Ottawa (Ont.) Light & Power Co. 54
Bell Telephone Co. of Canada
44 Pillsbury-Washburn Flour Mills
California Wine Association_ _ _ _ 45
Co., Ltd., London
40
Canada Cement Co., Ltd., Mont. 43 Standard Motor Construction Co. 109
Canadian Cottons, Ltd., Mont_ 41 Standard Sere v Co. (of N. J.)
46
Can. Gen. Elec. Co., Ltd., Tor_ 41 Steel Co. of Canada, Ltd., HamCasein Co. of America. N. Y
ilton, Ont
45
41
Chicago Lum. & Coal Co., St. L 45 Texas Pacific Land Trust
174
Chicago fly. Equipment Co_ _ _ _ 45 U.S. Cast Iron Pipe & Fdy, Co_1761
Cities Service Co.(o( Del.), N.Y. 173 United States Telephone Co_.._ 41
Cleveland Cliffs Iron Co
51 Virginia-Carolina Chemical Co_..t39
JULY 27 1912]
233
THE CHRONICLE
Philadelphia (Pa.) Rapid Transit Co.
(Report for Fiscal Year ending Dec. 31 1911.)
The report, which is signed by Pres. C. 0. Kruger and approved by Thomas E. Mitten, Chairman, says in substance:
New Cars.-The Stotesbury management in its preliminary plan, as communicated to the city, dated Apr. 10 1911 (V. 92, p. 1033, 1500, 1566),
undertook to supply during the ensuing five-year period 1,300 cars of the
most modern type, with cross-seats, having nearly double the seating capacity of the obsolete equipment to be retired, or an average of 260 new
cars per year. By June 30, 1912 there had been received 400 new near-side
surface cars and 30 new elevated cars; 450 additional'near-side cars being
on order for delivery by Dec. 1 1912, so that within 13,5 years 850 near-side
and 30 elevated cars, total 880, will have been purchased, as against the
520 promised for this period.
Additions, dec.-During the year just ended $1,301,286. was expended
on account of the new near-side cars and standard track reconstruction;
$650,643 of this, representing the cost of the small four-wheel cars and the
lighter and obsolete type of track replaced, was charged to the reserve fund
for renewals; the remaining $650,643 represents the additional cost of the
new near-side cars, which have more than double the seating capacity of
the small four-wheel cars displaced, and the additional cost of the standard
track construction over the obsolete track replaced. This amount, representing 50% of the total cost, was therefore charged to capital account.
Power Contract.-The power contract with the Philadelphia Electric Co.
has now been extended to cover a 10-year period, and. Increased from 8,000
k. w. to 15,000 k. w., commencing Nov. 15 1912, and to 20,000 k. w. con1mencing Nov. 15 1913 (V. 94, p. 770, 1051). The contracts with the Phila.
Electric companies operating in Delaware County have also been Increased
from 560 k. w. to 1,200 k. w., effective Oct. 11912. This additional power
will enable your company to operate during the peak load of the coming
winter of 1912-13 sufficient additional cars to supply over 30% added seatitur capacity during the rush hours of travel, as compared with the winter
of 1911-12.
INCOME ACCOUNT, YEARS ENDING JUNE 30.
1909-10.
1910-11.
1911-12.
$21,727,468 320,612,687 $17,991,100
Passenger earnings
770.017
916,782
973,223
Other receipts
$22,700,691 $21,529,469 $18,7o1,147
Total
Expenses*$3,405,105 $3,229,420 $2,420,221
Maintenance and renewals
1,460,677
1,427,022
1,531,573
Operation of power plants
4,527,960
5,348,479
5,765,413
Operation of cars
1,853,123
1,988,648
2,087,968
General
1,194,635
1,155,491
1,158,772
Taxes
$13,948,831 313,149,060 $11,456,616
Total expenses
$8,751,860 $8,380,409 $7,304,531
Net earnings
1,337,468
1,469,749
1,509,474
Interest
7,296,786
7,326,220
7,392,876
Rentals
$8,634,254
$8,795,969
-$8,902,350 Total
$415,560 31,329,72:3
3150,489
Deficit
• Maintenance and renewals In 1911-12 include amount expended, $2,681022, against $2.624,692 In 1910-11, and unexpended balance, $724,082,
against $604,728.
BALANCE SHEET.-(Comparc V. 91, p. 789.)
June 30'12. June 30'11. Dec. 31 '10
AssetsLeases, franchise, construe. equip.,
advances to leased lines, sir% fd.,&c.102,522,859 99,588,109 z99,107,715
861,403
414,900
1,142,548
Cash
_
1,200,000 f 1,200,000
_
Securities from fire Insurance fond_
6585
1
Reserve for renewals, net
Supplies, material, prepaid Items and
1,08_9,534
1,211,475
1,069,071
accounts receivable
105,216,92-1 102,292,543 102,238,189
Total
LiabilitiesBonds, mtges., ground rents, ft__ _ 69,370,422 67,064,008 67,064,008
507,125
749,697
Accts, pa le pay-roll, accr. taxes,&c. 1,403,731
1,149,233
1,142,303
1,149,233
Accrued ñxe'tl charges
1,433,603
1,311,996
1,423,749
Accident reserves
1,500,000
1,689,168
x1,632,430
Renewal reserve
29,977,120 29,977,120 29,977,120
Capital stock paid In
607,100
358,251
260,236
Surplus
105,216,921 102,292,543 102,238,189
Total
x Renewal reserve includes special appropriation in accordance with the
Stotesbury requirement, $1,500,000, unexpended balance of appropriation
of 15% of gross earnings for the year ending June 30 1911, $604,728, and for
year end. June 30 1912, 3724,082, and proceeds from sale of obsolete equipment, &c., $20,313; total, $2,849,123, less deficits for years 1910-11 and
1911-12 as above, $415,560 and $150,489, respectively, leaving balance of
31,632,430.
z For details of property account in 1010 see V. 93, p. 226.-V,94,p.1696.
Western Railways & Light Co.
(Report for Fiscal Year ending Dec. 31 1911.)
This company is closely allied with tile Illinois Traction
Co. (see report in last week's "Chronicle," page 172).
The report, signed by W. B. McKinley, Pres., and H. E.
Cliubbuck, Vice-Pres. executive, says in substance:
INCOME ACCOUMT.
1911.
1910.
Earnings$253,198
$373,920
Interurban
839,956
925,105
Street railway
340,659
210,859
Gas
251,878
Electric light and power. 362.052
27,619
23.810
Steam heat, water, &c,_
1909.
$302,893
781,386
188,857
247,471
27,807
1908.
$252,672
664,910
172,145
239,914
12,902
$2,029,355 $1,679,701
Gross earnings
Expenses3997,784
$1,188,891
Operating expenses
61,774
58,340
Taxes
16,175
20,317
Gen'l & overhead exp_ _ _
$1,548,414
$1,342,544
$844,590
46,650
12,619
$776,544
32,358
Total expenses & taxes.31,270,982 $1,072,299
(63.84)
(62.63)
P. c. of operating
$607,402
$758,373
Net earnings
12,717
15,540
Other revenue
$903,859
(58.37)
$644,555
$808,902
(60.25)
$533,642
$773,913
Total
Less net earns of props.
prior to purchase
$620,119
4644,555
*533,642
$773,913
$474,691
142,260
$620,119
$356,488
134,700
Total net revenue
Interest on bonds, &c_
Preferred dividends
53,401
66,738
$591,154
$269,427
116,987
$466,904
$247,342
103,167
$116,395
$204,740
$128,931
$166,962
Balance, surplus
During the year ending Dec,31 1911 there was expended for maintenance,
renewals and betterments the sum of $265,887, being 13A0% of gross
earnings, against $258,673 (15.4% of gross earnings) In 1910.
BALANCE SHEET DECEMBER 31.
1910.
1911.
1911.
1910.
$
8
AssetsLiabilities$
4,521,800 4,521,800
Stocks Se securities_ _6,883,600 6,715,100 -10mmon stock
2,413,000 2,245,000
Preferred stock
Due by controlled
cos.-construe.,&c1,266,044 666,372 Debenture bonds__ _ 781,000 631,000
50,407 Accrued Interest_ _ _ _ 72,823
62,234
do revenue
66,533
35,654
72,559 Accounts payable_ _ 43,897
Accounts receivable_ 57,932
4,973 Accr'd taxes of con5,070
Miscellaneous sects
trolled companies_ 36,703
32,963
51,578 103,467
Cash in bank
Surplus
*457,235 379,928
Total
8,326,458 7,912,878
Total
8,326,45$ 7,912.87)
*After deducting $50,000 for depreciation and $29,655 for discount on bonds of
controlled companies.
BONDED DEBT DEC. 31 1911 OFTROPERTIESCONTROLLEDBY WESTERN'
RAILWAYS dc LIGHT CO. UPON WHICH IT PAYS INTEREST.
[Compare pages 25 and 26 of "Electric Railway Section.1
Outstanding. Int. Due Date.
Bonds$24,000 6% July 1915
Atchison Railway, Light & Power Co
722,000 5% Nov. 1935
(V.91, p. 1094, 1628)
do
do
do
5% Dee. 1938
675,000
Cairo Railway 4; Light Co (V. 88, P. 293)
75.000 5% June 1923
Cairo City Gas Co.(V. 87, p. 616)
150.000 5% June 1923
Cairo Electric & Traction Co
250,000 5% July 1922
Central Lighting Co
1,943,000 5% Dec. 1938
Chicago Ottawa & Peoria By. Co.(V. 87, p. 812)
do
(V. 92, p. 1374)_.... 768,000* 5% Dec. 1938
do
do
do
1,500,000 5% Sept. 1935
Illinois Valley Railway Co
30,000 5% Dec. 1925
Consolidated Water & Light Co
979,000 5% July 1934
Galesburg Railway & Light Co.(V.83, p. 2384)
Galesburg Elec. Motor & P,w er Co.(V.76, p.868)... 171,000 57: Sept. 1912
350,000 5% Apr. 1919
Galesburg Gas & Electric Light Co
34,000 5% Apr. 1924
Marseilles Water & Light Co
265,000 5% July 1923
Northern Illinois Light & Trac. Co.(V. 93, P 1788)
Quincy Horse Railway & Carrying Co.(V.6 p. 372) 140,000 6% Apr. 1912
7 Apr. 1918
(V. 67, p. 737) 410,000 5,
do
do
do
do
do
300,000 5%
• Oct. 1919
Wichita Railroad & Light Co
892,000 5% Oct. 1932
do
do
do
do
Total
Northern Illinois Light 0, Traction Co. notes
Quincy Horse Railway .3; Carrying Co. notes
P111)11O Service Co. preferred stock
$9,678,000
$285,000 634%
37,500 5% •
200,000 6%
* The $768,000 Chicago Ottawa & Peoria By. Co. bonds were Issued on account
of Morris to Joliet extension, and the interest on the same does not become a charge
against the revenue until this extension is put in operation.
CITY RAILWAY AND INTERURBAN STATISTICS-MILES OF ALL TRACK
MILES OF ROAD-BED.
[Total population served, 242,186. Motor cars owned,218; other cars, 97.1
PropertyTrack. Road.
Track. Road.
Property20.37 20.67
Quincy Horse Ry.&Carr.Co. 18.45 14.4P Cairo Ry. & Light Co
Galesburg By. & Light Co_ 17.57 15.75 Atchison Ry., L. & P. Co_ 9.84 9.14
Wichita RR. & Light Co__ 32.00 23.50 Chic. Ottawa & Peoria fly.. 91.65 85.52
6.0
Nor. III. Lt. & Trac. Co__ _ 6.5
196.38 175.07
Total of all
ELECTRIC-LIGHTING STATISTICS-NO. OF INCANDESCENT LAMPS
(Total population served, 77,429; total commercial arcs, 362; h. p. in motors
connected, 3,525.)
Citizens' Lighting Co
13,000 Marseilles Water & Light Co_ _ _ _ 3,872
29,691 Atchison By., Lt. & Power Co..- 20,545
Galesburg Railway & Light Co
&
Illinois
Light
TracNorthern
Results.-As anticipated in the annual report of 1910, there was an Im119,367
Total
tion Co
28,550
provement in the earnings of the companies of the Western Railways & Cairo Railway & Light Co
23,706
Light Co. for the year 1911. The Interest charges were quite materially
increased by reason of many improvements and betterments undertaken
GAS-LIGHTING STATISTICS-MILES OF MAINS-METERS IN USE
and completed in 1911, which have not been in operation for a sufficient
length of time to permit the development of their full share of the earning s. (Total pop'n served,72,587. Capae.gas benches,780.000: water-gas plant,295,0001
Mains. Meters.
Mains. Meter:.
Notwithstanding this, the surplus for the past year has shown an improve23.50 1,466 Atchison By., Lt. & Power
ment over the previous year, as the figures below show:
Citizens' Lighting Co
60.22 4,488 (natural gas)
36.41 2,557
Additions.-The extension of the Chicago Ottawa & Peoria By. from Galesburg By. & Lt. Co_
' into Cairo By. & Light Co
20.5 1,214
Total of all
140.63 9,725
Morris to Joliet, was commenced, and although cars were operated
Joliet in December, the cold and stormy winter made It necessary tem- -V. 91, p. 280.
porarily to abandon the construction work, and the ballasting w a not
completed. New car shops for the Chicago Ottawa & Peoria By. were
Maritime Coal, Railway & Power Co., Ltd.
built and equipped with thoroughly modern apparatus which will p‘s,v ide
.
ample facilities for repair and maintenance of equipment of this comp
the
for Fiscal Year ending Feb. 29 1912.)
The construction of the hydro-electric plant at Marseilles,
(Report
was
water leases acquired during the previous year from W. D. Boy
INCOME ACCOUNT.
started by the Northern Illinois Light & Traction Co. early in the year and
a part of the plant was in operation at the close of 1911. This plant when
1911-12. 1910-11.
1911-12. 1910-11.
completed, will develop 3,000 lc. w. and the Northern Illinois Light A.' Trac- Collieries, &c
$56,665 $48,311
f $60,267 Bond interest
1
tion Co., which will be the operating company, will sell at whol-sale at Railway
4,019
1994,270( 21.338 Interest and discount_ 7.482
La
Salle,
Marseilles,
theeChicago
Ottawa,
Utica,
Peru and to
Morris, Seneca,
a23.073 31,717
20,690 Other deductions
Power
rental
Ottawa & Peoria By., electrical energy from the hydro-electric generating
station.
Balance, surplus__ __ $7,049 $18,248
$94,270 $102,295
Total earnings
These two large improvements to the property will not return their profund, $4,049; depreciation on
sinking
portions of the earnings until well along in the year 1912, but it is expected
Include
1911-12
in
deductions"
a
"Other
that both will have an Important bearing on the future of this company.
Plant, 134,500, and on mining rights, $1.556: general and bead office salaries, $8,463;
Earnings of Controlled Companies -The improvements to, and the re- general expenses, $2,258: directors' expenses, $1,146; insurance, $1,101.
building of the Cairo properties, contemplated when these properties were
BALANCE SHEET FEBRUARY 29.
purchased in 1909, were completed. The earnings expected were realized,
showing a marked Increase over the previous year.
1911.
1912.
1911.
1912.
The Wichita RR. & Light Co. and the Atchison By., Light & Power Co.
Liabilities$
$
$
$
Assetsso ffered decreases In earnings, owing to the general business depression *Property account- -3,081,768 2,978,288 Capital stock
2,000,000 2,000,000
w/Alch prevailed in Kansas as a result of the partial failure of crops.
55,000 Bonds outstanding
929,500 908,500
Canada Elect. stock_ 55,000
expenditures
Improvement
city
on
(a)
the
aggregated
that
show
[Tables
5,258 sinking fund
11,834
15,883
5,258
Clalsighneeto store
P,.operties, $740,620, including: Water dept.. $8,990: hydro-electric dept., Cash
31,233 Reserve for &preen. 22,394
16,338
17,661
$'385,077; gas dept., $46,374; heating dept., $9,935; electric dept., Mining supplies
14,311 Sundry creditors_ .._ 50,600
36,287
18,097
On
(b)
$249,916.
interurban
$208,465
lines,
dept.,
$40,328; street railway
11,852 Bills payable
76,748
163.850
25,794
unsold
hand,
on
Coal
o which.$135,035 for road construction, $70,475 for equip. and $2,954 gen. Book debts
46,323 Accrued interest__ 23,237
21,712
72,920
1,405 Profit & loss account 75,101
72,251
4,067
OPERATING STATISTICS.
Unexpired insurance.
1911.
1910.
1910.
1911.
3,280,555 3,143,670
Total
3 280,565 3,143,670
Artificial gas sold
Total
Itev.pass.carried
(Cu. ft.)
149,431,900 143,683,100
-city,lines__ 18,994,626 17,338,020
* Consists of mining rights, development, electric-dower plant, real estate, Mari3,671,784 No. kill't hours
do interurban 3,557,621
time By. and equipment and property account.-V.94, p. 1057.
sold
8,230,329
(9)
Nat.gassold(c.f.)583,6133,000
234
[VOL. Lxxxxv.
THE CHRONICLE
Over 20,000 similar pumping plants are now in use In California, 200 times
as many as In Colorado. The year 1912 iftexpected to show a large increase
In this phase of the power business.
New Contracts:-From the 6reeley sub-station an independent line was
run to the sub-station of breeley-Denver ity. Co., In order to furnish service to that company under a contract recently closed for a term of years.
A contract terminating May 1 1929 has been entered into whereby the
Home Gas & Electric Co. leases our distribution system at Greeley and
agrees to purchase all current from the Northern Colorado Power Co. and
to develop a certain prescribed territory for irrigation pumping by the
building of transmission and distribution lines east and southeast of Greeley;
also lines to the territory about Lucerne, Eaton, Ault and Pierce, for which
the Power Co. holds a contract with the Eaton Electric Co. for wholesale
current. The pumping business in this territory shows a marked increase.
Outtook.-The system covers a large territory and is capable of taking on
double the present amount of business with small additional construction
costs. The territory occupied is developing rapidly and with the practicability of the irrigation pumping business now established, with the application of electricity to the coal mines introduced,and with the assurance of
abundant water for this year's irrigation, the prospects for increased business are better than ever before. [See also V. 88, p. 380; V. 94, p. 1123.1
CONSOLIDATED INCOME ACCOUNT OF NORTHERN COLORADO
POWER CO. AND BOULDER ELECTRIC LIGHT & POWER CO.
' 1911.
1908.
1910.
1909.
Gross earnings
$505,222
$477,940
$457,155
$362,356
Operating expenses
278.437
245,294
270,044
266,482
New York & Kentucky Co. (and Subsidiary Companies),
Rochester, N. Y.
(Reportfor the Year Ending Dec. 30 1911.)
PROFIT AND LOSS ACCOUNT.
$1,874,533
Balance Dec. 31 1910
Deductions (continued)547,502 Common dividends (10%)..___ $400,000
Net profits for year 1911
Pref. div. payable Jan 2 1912..
17,500
Total
$2,422,035 Adj. prop. val'ns, res'ves, &e_ 269,529
DeductPreferred dividends (7%).$70,000
Surplus, per balance sheet__51,665,006
CONDENSED CONSOLIDATED BALANCE SHEET JAN. 1 1912.
Amt.? ($8,255,623)Liabilities-($8,255,023)Real est., bidgs., mach.,equip.,
Preferred stock
$1,000,000
good-will, trade-marks, conCommon stock
4,000,000
tracts, &c
$3,124,313 Outstanding checks
6,120
Cash on deposit and on hand__
103,667 Notes payable
1,482,220
Notes and accounts receivable 1,547,832 Accounts payable
70,944
Merchandise inventory
2,716,908 Real estate, personal and FedSecurities owned (at cost)
eral Income tax, &c_
396,145
13,833
Other assets
101,756 Dividends payable Jan. 2_ ___
17,500
Unexpired in,sur., Interest; &e_ 265,002 surplus
1.665,006
-V.83, p. 1474.
Penmans, Limited, Montreal.
(Resultfor fiscal Year ending Dec. 311911.)
1910.
1911.
1911.
1910.
Net profits
$341,348 $407,813 Int. on bonds
$100,000 $100,000
Deductrransferred to res've_ 100,000 100,000
Div.on pref.stk.(6%) $64,500 $64,500
Total deduc'ns
Div.on com.stk.(4%)_ 86,024 86,024
$363,584 $377,168
Acc'ts written oft
13,060 26,644 Balance
def.$22,236sur.$30,645
Net earnings
'Other income
$226,785
26,053
$207,896
23,413
$190,673
21,290
$117,062
16,247
Gross income
Deductions-Taxes
'mt. on bonds
Int. on 2-yr. coll. tr.
notes
Int. on 0th.
e
c
Miscellaneous
$252,838
$11,712
138,400
$231,309
$14,928
138,400
$211,963
$13,810
138,400
$133,309
$9,302
141,404
27.000
23,625
2.086
14,980
25,866
1,573
29,190
13,515
13,120
2,963
BALANCE SHEET DEC. 31.
$202.823
$195,747
Total
$167,184
$194,520
1910.
1911.
_
1911.1910.
$50,015
Balance, surplus
$35,562
$17,443 def_$33,875
Assets8
Liabilities$
$
Land, bldgs., mach.,
Preferred stock
1,075,000 1,075,000 - • Includes Interest on $243,000 bonds, which were Issued to electrify the
good-will, ltc
5,079,754 4,786,555 Common stock
2,150,600 2,150,600
Raw & manuf.stock 1,604,187 1,397,717 1st it.5% bonds_ __ _2,000,000 2,000,000 Denver & Interurban RR., paid by that company.
NORTHERN COLORADO POWER CO. AND BOULDER ELECTRIC
Cash
16,996
20,788 Acc'ts pay.
.
& pay,
LIGHT cfc. POWER CO. CONSOL.GEN.BALANCE SHEET DEC. 31.
Bills receivable
7,944 105,829
rolls
303.531 278,408
hill.
Acc'ts receivable (less
1J1).
1910.
1911.
Bills payable
781,289 651,803
Assetsreserves)
$
Liabilities$
512,088 ' 584,790 Reserve account_ __ _ 400,000 300,000
$
$
Miscellaneous
3,000,170 3,000,240
135
4,129 Property & plant a6,355,105 6,283,669 Caeital stock
Nor. Col. P. Co. 1st
Profit and loss
410,414 432,650 Deny. Zit Inter. RR.
electrification ____ 243,000 243,000
M.sink. fd. 5s_ .._ _2,593,000 2,593,000
5,100
5,100 Cheyenne Lt.,F.& P.
7,120,969 6,895,680
Total
Total
7,120,969 6,895,680 Miscell. securities___
Sinking funds
74,795
57.929
1st M. sk. fd. 5s._ 175,000 175,000
93, p. 525.
Materials & supplies_ 47,864
65,277 *2-yr. coil. tr. notes
Cash on hand, &c_
2,932
17,380
6%,due May 1912 450,000 450,000
Northern Colorado Power Company.
Cash for bond interest 25,108
24,375 *Notes payable
403,190 362,000
(Report for Fiscal Year ending Dec. 31 1911.)
Accounts receivable_ 84,751 100.222 ialaries & wages_ ...._
8,888
12,228
Notes receivable. _ _ _
4,614
3,000 Accounts payable_.._ 34,526
87,206
President W. J. Barker recently wrote in substance:
Int. receivable, accr'd
292
97 Nleter deposits
4,640
4,850
33,107 Accrued int., &c
45,977
Oroanization.-The company was incorporated In Colorado May 1 1906 Deferred, &c., accts.. 13,198
44,832
Reserves
56,710
59,657
with an authorized capital stock of $3.000,000 divided into $1,000,000 nonProfit and loss
84,658
44,143
cumulative 6% preferred stock and $2,000,000 common stock (par of all
shares $100). On May 1 1908 a mortgage securing an authorized issue of
Total
6,856.759 6,833,155
Total
6,856,759 6,833,155
$6,000,000 1st M. 20-year 5% bonds was executed to the Central Trust Co.
of New York. trustee, all bonds of the $3,000.000 prior issue of May 1906
• Secured by $1,043,000 1st M. 5s of the Northern Colorado Power Co.
having been surrendered and canceled. Of these $6,000,000 bonds there
a Includes in 1911 power plants, transmission lines, sub-stations, real
are outstanding $2,593,000; In treasury, $1,043,000; reserved to retire
divisional bonds, $163,000 (being Cheyenne Light, Fuel & Power Co. 1st M. estate. franchises and contracts, coal lands, &c. $5,902,645; construction
5s, due July 1 1925. See V. 75, p. 551-Ed.): reserved under restrictions and betterments, $427,829: real estate, not used In operation, *17,200, and
n. 1123.
in mtge., 52.201,000. (V. 88, p. 380.) All properties acquired and all plants furniture and fixtures, $7,431.--V.
built are placed under said mortgage.
Additions.-All physical property rights and franchises built or acquired •
xNVESTMENT
up to April 1911 were described In detail In the report for 1910. (The power
house at Lafayette has an installed generating capacity of 6,000 k.w. The
local companies, all, or substantially all, of whose securities were acquired,
RAILROADS,
INCLUDING
ELECTRIC ROADS.
were: Boulder El. Lt. & Power Co., Consumers' El. Co. of Lafayette, &c.,
Longmont El. Lt. & P. Co., Berthoud El. Lt. Co., Loveland Lt., Ht. & P.
Alabama Traction, Light & Power Co., Ltd.-Listed.Co., Latimer Lt. & P. Co., Greeley Power & Lt. Co. and Cheyenne Lt., Fuel
& P. Co.-Ed.) Since that date, at the Lafayette power house 1,000 h.p. The London Stock Exch. has listed the partly paid scrip for
additional transformer capacity has been provided as reserve.
the English issue of $6,000,000 5% 1st M. gold bonds. See
•The continuous drought for the past few years has kept the water-level
In the reservoir at a low point, and a large well is therefore being constructed offering in V. 94, p. 981.
below the plant from which seepage water will be pumped into the reservoir.
Augusta-Aiken Ry. & Electric Corporation.-AuthorizaThe same installation will also be used for irrigation purposes.
About 75 miles of 2,300 and 6,600 volt pumping lines have been added tion of Contracts Regarding Proposed Hydro-Electric Plant.
to the previous distribution systems, some 20 miles the past year.
At Windsor, 100 h. p. In sub-station capacity was at the outset consid- Sale of $2,500,000 Guaranteed 1st M. 5s of Georgia-Carolina
ered ample. Within a year 500 h. p. were required and during 1911 an Power Co. and $750,000 Guaranteed Pref. Stock of Georgiaadditional 250 h. p.
Carolina Investment Co.-Shareholders' Option.-The shareAt Fort Collins an independent line has been built from the sub-station of
the power company to the sub-station of the railroad company, In order holders on July 20 voted to approve the proposed agreethat the operation of the street railway might not affect the regulation of ments, dated July 11912, providing for the
construction and
the commercial lighting circuits of that city.
At Boulder during 1910 the sub-station building was doubled In size, financing of the Georgia-Carolina Power Co.'s proposed hya 200 k. w. rotary converter outfit installed for the operation of the local dro-electric plant and system upon the Savannah
River at
street railroad system, three street cars were added to the rolling stock and
several extensions were added to the lines of track. Space was also the mouth of Stevens Creek, and the operation of the same
provided for all of the sub-station apparatus used by the Denver & Inter- in perpetuity by the Augusta-Aiken Railway & Electric.
urban RR., and arrangements have been made for the operation of one subThey also voted to guarantee the interest, principal [on
station to supply the requirements of both concerns. In connection with
the Boulder Street RR.. a line has been built from Maxwell St. via 5th St. July 11952) and sinking fund of the 1st M. 5% 40-year sinkto 5th Ave., and 12th St. back to Maxwell.
The original system was dependent upon a single transmission line ex- ing fund gold bonds of said Georgia-Carolina Power Co., and
ten ling to Greeley by way of Fort Collins for the supply of all the northern dividends from July 1 1915 on $750,000 preferred stock
Colorado towns. A loop system has since been built. The new transmis- of the Georgia-Carolina Investment Co., as
below stated.
sion line extends from the Lafayette power house through the coal fields
An agreement was also approved for the underwriting by
to Cornfield and Erie; then through Frederick, Firestone and Dacona to
Fort Lupton; then along the line of the Denver Laramie & Northwestern a syndicate headed by Redmond & Co. and J. &
W. SeligRR. to feed Platteville, La Salle and Milliken and into Greeley. This new
line at Greeley Is tied in with the line feeding Greeley from Lafayette via man & Co. of said bonds and pref. stock.
Ft. Collins, thus forming a closed loop inclosing a splendid territory, and
Option to Subscribe.-The Electrical Finance Corporation,
giving ample protection against any interruptions.
From the largest sub-station at Fort Lupton, a new line has just been 54 Wall St., by circular of July 23,signed by Sec. H. S. Colthrough
built
Brighton to Henderson, about 12 miles. At Brighton the lette, is offering to all of the shareholders of Aug. & Aiken
local distribution company has dismantled Its steam plant and is purchasing
all its current wholesale from the Northern Colorado Power Co. A large Ry. & Elec. Corp. of record at noon July 23,or their assignees,
volume of business Is expected from this rich agricultural territory within the right to subscribe on the company's warrants at Cent.
the next year. The territory about Fort Lupton, Platteville, La Salle, Tr. Co., 54 Wall St., until noon Aug. 15 for said $2,500,000
Milliken and Johnstown is sub-leased to local companies, who are building
1st M. 5s of the Power Co. and the $750,000 pref. stock of
local distribution systems and will purchase our current.
Considerable progress has been made In introducing the use of electric the Ga.-Caro. Invest. Co. at $880 and int. (on the bonds)
power In the coal mines. In and about Frederick where already over 100 h. p.
Is being demanded, a 400 k. w. 44,000-volt sub-station was installed last for each block, consisting of a $1,000 bond and $300 pref.
year. We are now furnishing current to 16 different mines with a connected stock, in amounts equal for the bonds to 66 2-3% of their
load of 590 h. p. Prospects of 1.500 h. p. additional are at hand.
Longmont has been promoting a municipal hydro-electric plant. The respective holdings.
matter is now in the hands of the courts (V. 93, p. 1389).
Subscriptions are payable at Central Trust Co., at subscribers'
In the Cheyenne plant 1,300 h. p. of alternating current generators and either in full at par and int., as aforesaid, on Aug. 15, or 30% and int.option.
($6 11
500 h. p. of direct-current machines have been added to the Initial installaon $1,000 bond) on said date and the remainder at intervals of not less than
tion; also a 500-h. p. steam engine and 1,150 h. p. of water-tube boilers,
30 days, when called, or optionally the full remainder on any such installto
supply the new demand that has developed since the plant was built in 1907. ment date. The pref. stock certificates (or scrip) will be distributed
on
Power-house equipment is also being provided for handling the local
street payment of the first installment, the bonds only upon payment in full. The
railway in accordance with a contract entered into for furnishing power.
El. Finance Corp. will not buy or sell warrants.
The gas works has been provided with two new benches of six retorts
Digest of Statement by Pres. F. Q. Brown, New York. July 12 1912.
each, and extensive additions have been made to the distribution systems
The maximum amount of powerinow used by the corporation Is approxiof the gas, electric and steam heating plants.
Ornamental street illumination has been "Introduced In a number of the mately 4,500 h. p. For 1911 the total cost of power to the corporation
towns, commencing at Cheyenne, where all the down-town section is lighted was about $80,000. Approximately 41% of the maximum demand and
with ornamental iron tungstoliers. This system is being adopted with 75% of the total annual power output is obtained front the power canal
owned by the City of Augusta at a cost, in 1911, of about $20,000; the remodifications in Greeley, Fort Collins, Loveland, Boulder, etc.
maining 59% and 25%, respectively, is generated by steam at a cost in
Construction and betterments during 1911 aggregated $86,098.
1911 of about $40,000. Additional power is not obtainable from the power
Irrigatton.-In 1911 about 25,000 acres oj land were irrigated by means
of canal. It is estimated that by 1915 the corporation will require
water pumped by electrically driven pumps, the water so secured
a maxicosting mum of 6,800 h. p. The enlargement of the steam plant
less than water obtained from ditches. The shortage of ditch water,
necessary to genin- erate this additional power would cost not less than $100,000,
deed, has proved conclusively the practicability of this means of irrigation.
and such
team-generated power In 1915 would cost about 1 j eta. per k. w. hour.
•
GENERAL
NEWS,
JULY 27 1912]
THE CHRONICLE
These figures for 1915 include provision for ordinary growth only, and do
not contemplate any sales of large blocks of power; they refer chiefly to the
requirements of our street railway and electric-lighting business also
Hampton Terrace Hotel, owned by the subsidiary, North Augusta Hotel Co.
The Industrial Engineering Co. of Pittsburgh in a recent report on the
power market of Augusta and vicinity states that that market now consumes,
exclusive of power used by the corporation, 21,870 h. p., viz., 10,600 h. p.
generated by steam and 11,270 h. p. taken from the power canal and from
local water-power developments in the Horse Creek Valley, between Augusta and Aiken. Augusta is growing both in population and in industries,
and her power market must grow correspondingly.
The Georgia-Carolina Power Co. has a right In perpetuity from Congress
to maintain a dam across the Savannah River at or near the mouth of Stevens Creek, 8 miles north of Augusta, the best water-power location with
reference to that city, and has franchises for distributing light, heat and
power in Augusta, good until 1959 (but providing that power must be sold
in the city by Oct. 1914). It is proposed to build a dam of concrete masonry, crest length 2,200 ft.; to erect on the Georgia side a hydro-electric
power house, initial installation about 12,000 h. p., with space for additional units; to build a transmission line 8 miles long thenceto Augusta,and a
sub-station in said city; to construct a wooden pole transmission line 16
miles In length extending in the direction of Aiken, S. C., and any necessary
sub-stations along the same. By the expenditure of about $1,000,000 additional, the capacity of the development can at any time thereafter be increased.to about 24,000 h. p.
It seems to the directors highly desirable that your corporation should
control the water-power development. There is a field for one development only. Others are believed to be anxious to enter the field.
Abstract of Plan. (1) Plant to Be Completed by July 1 1914.
(1) A construction company controlled by the interests which now control the Stevens Creek development is to acquire all necessary lands, rights
and franchises not yet acquired, to construct and equip the hydro-electric
plant and system and to turn over the plant and system to the GeorgiaCarolina Power Co. as its property, complete and ready for operation, not
later than July 1 1914, In the meantime paying all Interest on its bonds,
taxes and other expenses. The actual work will probably be done for the
construction co. by J. G. White & Co.. Inc.(on their usual fixed fee basis).
(2) Description of Securities to Be Issued as Consideration.
In consideration thereof, the construction company will receive $2,500,000
Georgia-Carolina Power Co. 1st M. 5% bonds and $750,000 5%-7% pref.
stock of a holding company, organized under the laws of Maine, to hold all
of the pref. and common stock of the Georgia-Carolina Power Co. The
bonds will be part of an authorized issue of $5,000,000, maturing July 1
1952, callable as a whole, but not in part (except for the sinking fund) at
105 and accrued Int., and secured by first mtge. upon the hydro-electric
plant and system and upon substantially all the other properties, rights
and franchises of the Georgia-Carolina Power Co., whether now owned or
hereafter acquired. There will be a sinking fund, operative beginning with
1918, sufficient to retire all of the bonds at maturity. [Bonds dated July 1
1912; par $500 and $1,000 o*. Int. J. 8: J. Cent. Tr. Co., trustee. Par
of pref. shares, $100.]
The pref. stock of the Maine holding company [Ga.-Caro. Investment Co.]
will be entitled to (quarterly] dividends of 7% per annum [and no more],
non-cum. until July 1 1915, but cumulative thereafter tip to 5% per,ann.
It will be redeemable [in cash] as a whole, but not in part, at 105 and all
unpaid cumulative dividends, and convertible, at option of Maine holding
company, into the 6% cum. pref. stock of Aug.-Aiken Ry. & El. Corp.,
share for share. It will have no vote until some specified default, except
upon questions of stock increase and creation of debt and liens. (The tota
auth. issue of pref. stock is this $750,000.]
(3) Sale of Aforesaid Securities-Other Provisions.
The construction company will obtain the cash called for by tile construction agreement by selling to the pref. and common stockholders of the
Aug.-Aiken By. & El. Corp. so much of said $2,500,000 bonds and $750,000
pref. stock as they shall subscribe for[pro rata], and the remainder to an underwriting syndicate-in each case at the price for each block, consisting of
a $1,000 bond and $300 pref stock, of $880 and int. [on the bond]. The
syndicate will receive an underwriting commission of $50,000(2% on bonds).
The construction co. will receive a reasonable profit and will turn over to
the Power Co. any balance of the proceeds of said $2,500,000 bonds and
stock not needed to fulfill the construction agreement.
(4) Railway & Elec. Corp. to Guarantee the Bonds and Pref. Stock and to
Receive Entire $500,000 Corn. Stock of Ga.-Caro. Invest. Co.
The Aug.-Aiken fly. & El. Corp. Is to guarantee [by endorsement on,
each bond and certificate] the interest on the $2,500,000 of bonds, said sinking fund payments, and the principal at maturity, if not previously paid
by sinking fund or otherwise; also dividends on said $750,000 pref. stock
as stated below. This corporation is in return to receive all of the common
stock ($500,000 par) or the Maine holding company, representing the entire
equity in the Stevens Creek development and control.
(5) Guaranty of 5% on Said Pref. Stock from July 1 1915-Further 2%
Upon completion, the hydro-electric plant and system Is to be turned over
to this corporation for its own use and profit in perpetuity (or until some
specified default). For such use, this corporation is to pay all expenses of
operation and ordinary maintenance and all taxes and miscell. expenses of
the Power Co. and the Maine holding company, interest and sinking fund
on said $2,500,000 of bonds, and,from July 11915, 5% quarterly dividends
upon all of said $750,000 of pref. stock of the Maine holding company
(Ga.-Caro. Investment Co.], "and additional non-cum. dividends thereon
at not exceeding 2% per annum, in case and to the extent that the value
of the electric current from the development used or sold by this corporation
eta. per k. w., hour shall exceed the aggrein any year, calculated at 1
gate amount of all of the foregoing payments, and such amount (not over
$15,000 per annum) as this corporation may charge up on its books for
extraordinary replacements and renewals upon the plant."
Effect of This Financial Scheme upon This Corporation.
This corporation will incur an annual interest charge of $125,000, a pref
dividend charge, beginning to accrue July 1 1915, averaging $45,000 annually, and, beginning in 1918, annual sinking fund payments of $25,000
(to be considerably increased after 1942). In return, this corporation will
assure itself of a supply of cheap power adequate for its future needs and
of such RUC as to discourage any rival water-power development. It will
control the Stevens Creek development by the ownership of all of the common stock of the Maine holding company, and will be entitled to all of the
profits on sales of power.
Profit from This 12,000 /a. P. Development-First Cal. Year of Operation,
say 1915, and for 1917 (Est. by J. G. White & Co.).
1917.
1915.
Gross receipts: From sales of power to others ($135,000
In 1915 and estimated cost of steam-generated power
required by Aug.-Aiken Ry. & El. Corp. in absence
$235,000 $382,500
of water power ($100,000)
Net after open exp. and taxes__..*190,000 $322,500
125,000
125,000
Bond interest ____ _ _ ------- ------25,000
Sinking fund, which does not begin until 1918
Pref. diva. at 5% for 6 months in 1915 and 6% for full
45,000
18,750
year 1917
235
Boston & Providence RR.-Proposed Electrification, dec.The New York New Haven & Hartford is making surveys
and preparing estimates for four-tracking and electrifying
the double-track line betweea iit,ston and Prov., 44 miles.
An appropriation for the work was voted by the directors some time ago,
and it is expected that construction will be begun as soon as the plans and
estimates have been completed and approved. The only substantial
pieces of four-tracked road on the Boston & Providence division are between
Boston and Readville and in the town of Attleborough. The New Haven
main line is now being electrified between New Haven and New York.
The law passed in Massachusetts In May last provided for "the making of
a mortgage to secure an issue of not e weeding $8,000,000 75-year 4 M
bonds for the work mentioned, the ethnination of grade-crossings, &c.,
which will be guaranteed principal and interest by the New Haven road,
and also secure the outstanding $2,170,000 4% bonds. The New Haven
road will make a small annual sinking fund contribution to cancel the bonds
by the expiration of the lease in 1987. Compare V. 94, p. 1507, 1249.
Vice-President Byrnes of the New Haven road says:
"The legislative enactment under which the New Haven directors voted
to act requires, In effect, a modification of the lease of the Boston & Providence to the Old Colony, and, in turn, a modification of the lease of the Old
Colony to the New Haven. Such modification must be approved by the
stockholders of the roads involved. The New Haven has made the necessary appropriation for the engineering plans and the work on those plans
is under way, but until the stockholders meet and act In October and November, the securities cannot be placed, and the actual work of construction cannot begin. The most that the New Haven can be expected to
promise at this time is that it will move in this work with reasonable speed."
-V. 95, p. 1507.
Brooklyn & North River RR.-Operation.-The company
has received a temporary permit from the Board of Estimate.
The cars will run from the junction of Fulton and Gold streets, Brooklyn
through Willoughby and Nassau streets, thence across Manhattan Bridge,
through Canal Street, Bowery, Grand, Sullivan, Vestry, Greenwich and
Desbrosses streets to West Street, near the Desbrosses St. -Ferry, North
River. Transfers will be given on a single 5-cent fare to the Third Ave.,
Dry Dock East Broadway & Battery and New York Rys. lines in Manhattan, and Brooklyn Rapid Transit lines, but no second transfers will be
given in either borough. Service will begin Aug. I. The permit is to be
operative pending the completion of the plaza at both ends of the bridge,
which may take a year or two. A similar permit has been given to the
Manhattan Bridge Three-Cent Fare Line. Both companies will temporarily use the subway tracks. A local line is also to be operated over the
bridge from plaza to plaza for a 3-cent fare, or two rides for 5 cents.
V.94, p. 205.
Canadian Northern Montreal Tunnel & Terminal Co.-See
Canadian Northern Ry. below.-V.93, p. 1190, 526.
Canadian Northern Ry.-New Construction-Tunnel into
Montreal.-Official figures furnished to the Government
Railway Dept. at Ottawa show that the company has about
20,000 men employed in the construction this year of 1,053
miles of new track, viz. (miles):
Montreal to Hawkesbury, 58; Ottawa to the Ottawa River, 32; west from
Bud, Ont., 100; east from Port Arthur, 108; branch lines and extensions in
Alberta and Saskatchewan, 400; British Columbia, 75; Sydenham, Ont.,
to Ottawa, 80: re-laying track on main line west, 200. [The extension into
Vancouver will be about 700 miles In length, completing the through line
from Montreal and Quebec to Vancouver; but this line will not be completed
for several years.]
The new equipment which will be installed this year is estimated to cost
between $8,000,000 and $9,000,000, and includes 140 locomotives, 4,300
box cars, 1,184 fiat cars, 400 convertible construction cars, 70 cabooses,6
snow-plows, 1 rotary plow, 82 passenger cars, 35 mall and baggage cars, 4
dining cars, 6 parlor cars and 16 sleeping cars.
Work was also begun in May last on the double-track
tunnel, 3.3 miles in length, by which the Canadian Northern
Montreal Tunnel & Termina: Co. (V. 93, p. 1190, 526) will
'
bring the system directly into Montreal.
• •
This work Fill occupy about two years and the cost of tunnel and terminal
Is estimated at about $15,000,000. The tunnel will shorten the distance
Into Montreal by about 3 miles.
The plan as reported last April includes: (a) Double-track tunnel through
Mount Royal, over 3 miles long, to provide an entrance for the Canadian
Northern from the west into the centre of Montreal, Que. (b) A terminal
station in the centre of the city near the present Windsor station of the
Canadian Pacific, the tracks to be 40 or 50 ft. below the street surface, and
to consist of 6 or 7 through tracks and half a dozen stub-end tracks, with
platforms about 1,000 ft. long. (e) Double-track viaduct down to the
St. Lawrence River, there connecting with the Harbor Commissioners'
tracks,- providing a through eastern connection with the Quebec lines of the
Canadian Northern. (d) Elevated freight yard with storage accommodations in the commercial district downtown. In connection with this project
the company is developing a large town site on the Piedmont back of
Mount Royal, having bought some 4,000 acres north and west of Mount
Royal, reaching from the mountain to where the Riviere des Prairies leaves
the Lake of Two MoUntains to form the northern boundary of Montreal
Island. Along this right of way will be built shops, factories and suburban
towns. Compare Montreal Central Terminal By. and Montreal Tunnel Co.
--V. 95, p. 47.
Cape Breton Coal Iron & Ry., Ltd.-Bonds Offered.-The
company offered in London from June 27 to July 2,at £98
per 4100 bond (with $100 bonus in full-paid stock), £300,000
of an authorized £410,9006% 1st M. gold bonds of £100 each.
Condensed Data From Company's Advertisement.
The balance, viz., £110,900, of said bonds will be available for future
issue if required. Par £100 each (c*der). Interest J. & J. in sterling at
London & South Western Bank, Ltd., London. Secured by mortgage
dated Sept. 1 1908 and supplemental deed on all lands, buildings and other
immovable property, and a first floating charge on the remaining assets
and the undertaking. The bonds will be redeemed by the company on
July 1 1942, at par, or not later than Jan. I 1932 at 107% on 3 months'
notice. Beginning Jan. 1 1914 there will be set aside as a sinking fund out
of any available profits 10 cts. per ton on the coal upon which royalty
Is paid, for the retirement of these bonds at or under 107.
There are also outstanding $921,000 of an authorized issue of $2,000,000
5% income bonds. The total auth. capital stock is $5,000,000, of which
$4,000,000 has been or is agreed to be issued as fully-paid.
The company's property (an area of about 80 sq. miles) Is underlaid with
coal of merchantable quality. The seams so far proved are estimated to
contain 700,000,000 tons. In the Broughton seam, whielb.ls opened out.
Balance, surplus, applicable to deprec. and renewals
equipped and ready for working, the company has about 153,000,000 tons.
$46,250 $127,500 The profit on working may be estimated at at least 85 eta. per ton. On
• and profit to Aug.-Aiken Ry. & EL Corp
These estimates take no account of the enlargement of the plant from the basis of an annual production of 750,000 tons, the surplus earnings,
12,000 h. p. to 24,000 h. p., which can be made for about $1,000,000. after deducting interest on £300,000 1st M. bonds,should exceed £109,000
Such water-power must induce other industries to locate at Augusta, in- per annum, being sufficient to pay the 5% interest on the £921,000 of
creasing not only the demand for power, but also the street railway and Income bonds, the sinking fund on £300,000 1st M. bonds and 10% on.
lighting revenues.-V.95, p. 175.
$4,000,000 of share capital and that the production and profits, it is believed, can be further increased by the opening up of additional collieries.
Baltimore & Ohio RR.-To Merge Controlled Companies.The proceeds of the present issue will provide for (1) the railway equipment, wharves and other facilities for handling the company's entire output
See Ohio River RR. below.-V. 95, p. 109.
of coal at Mira Bay. These Improvements can be completed within six
£80,000. (2) repayment of advances of about
Boston & Albany RR.-Equipment Contracts.-Contracts months and at a cost ofinterest
on the 1st M. gold bonds and (4) about
£75,000; (3) two years'
have been placed for new rolling stock the purchase price of £65,000
for working capital.
which, it is announced, will approximate $6,000,000.
Trustees for 1st M bonds: Electric & General Invest. Co., Ltd., London.
Directors: Prcst., Horace Mayhew, Chester; William Buckley Gladstone.
These include freight cars representing nearly $5,000,000. The American
Car & Foundry Co. will supply 3,000 box cars, comprising the larger part London; William Hanson (Hanson Bros.), Montreal; Arthur Hildebrand
of the equipment, also 20 steel passenger coaches; the Keith Car & Mfg. Co., Ramsden-Tagore, London; Charles Taswell Richardson, Moreton-in-Marsh.
1,000 box cars; the Pressed Steel Jar Co., 800 coal cars; the Standard Steel -V.85, p. 1211.
•• •
• .c •.
AEI •tiiigirk.aaisaalauk_tizi
Car Co., 400 flat cars; the Hart-Otis Co., 100 convertible ballast cars; the
417
.
Oassville & Western (Electric) Ry.-Receivership.Laconia Car Co., 8 mall cars; and the Pullman Co., 3 dining-room coaches.
The delivery of the 21 locomotives, costing $370,000, which will be built by
Judge Van Valkenburg In the Federal Court at Springfield, Mo., on'July
the American Locomotive Co., is to be made during Sept. and Oct., and 17, on application of Vice-President 0. H. Orendorff, appointed G. M.
the remainder of the equipment prior to Jan. 1 next. Compare V.95,p.175. Sebree receiver. The road extends from Cassvllle to Exeter, Mo., 5 miles
r•
236
THE CHRONICLE
of track. Road built in 1896. Capital stook, $100,000. The Ozark Traction
Co. has, It is stated, been organized by the same interests to build from
Eureka Springs, Ark.. northward. Pres. and Gen. Mgr., S. M. Mitchell.
Chicago Burlington & Quincy RR.--Bonds Called.—
One hundred and twenty-three bonds of $1,000 each and 25 of $100 each,
issued under the Denver extension mtge. dated Feb. 1 1881, for payment
on Aug. 1 at par at the New England Trust Co., Boston.—V.94, p. 1695.
Chicago Railways.--36 on Participation Certificates.—A
dividend of $6 has been declared on participation certificates,
Series 1, payable Oct. 31 to holders of record Aug. 2, consisting of 30,800 parts. The previous distributions were
$8 (the maximum amount) on Sept. 1 1909 and an initial
payment of $4 on Nov. 15 1908. Compare V. 89, p. 285.
Circular.—A circular sent to the holders of participation
certificates by A. C. Bartlett, Chauncey Keep and Henry A.
Blair, asking for proxies to be sent to Secretary F. L. Hup
for use at the annual meeting on Oct. 24, says in substance:
The management is confident that the future holds forth promise of
better results than those heretofore obtained. The expense of operation
during reconstruction is always above the average. There has been a
large, extraordinary expense incurred in the litigations involved on account
of claims that the company is liable for the debts of the former owners.
The future expense from these litigations cannot be very great. Provision
has been made for the payment of any judgments which may ultimately
be obtained upon the small amount of bonds yet outstanding—$250,042
par value.
• These extraordinary expenses and the necessity of providing funds to
meet any contingency have not permittde the declaration of dividends upon
the capital stock to an extent that would otherwise have been obtainable,
but with most of the legal difficulties out of the way, immediate rehabilitation completed as to the property originally acquired, with great progress
having been made in the rehabilitation of the Chicago Consolidated Traction
System, and with the increased traffic which the improvements upon the
property last mentioned is sure to produce, the management looks with
great confidence for better results in the future.
It has long been the opinion of the management that a merger, upon
satisfactory terms, of its property with that of the Chicago City Railway Co.
and that of the elevated railway companies of Chicago would be a great
benefit to all properties and would greatly reduce all operating expenses,
provided (1) that an ordinance authorizing such merger, fair and satisfactory In its terms, could be obtained fromm tile city; and (2) that the city
would consent to such a valuation of the elevated railways as would justify
them in,joining in such a merger. Parties interested have exchanged
figures and estimates as to earnings, cost of properties, dm., but no plan
or details of any plan of merger have been seriously discussed. If a fair
valuation can be obtained, the investigation of the subject has proceeded
sufficiently. It is believed, to justify the assertion on the part of the management that a merger upon terms fair to all concerned can be reached. Compare V. 94, p. 1247.
Chicago Subway 00.—Report of Reorganization Committee.
—Substantially the following statement is made to depositors
under the modified plan of Nov. 14 1911:
General Summary of Accounts of Reorganization Committee, July 15 1912.
The aggregate of the assessments paid (incl. Interest received thereon)
(total assessment mentioned In plan. $5,299,060), $4,873,776.
Manner in which Said $4,873,776 Has Been Disbursed or Set Apart.
Receivers' oertfs., duo Apr. 1 1912, purchased and canceled_ _ _ _$3,605,000
Account Inter-State Telco. 83 Teieg. Co.(long-distance connec'n)
50,175
Purchase of receivers' note to provide funds to protect property,
• canceled
100,000
Deposit to qualify bidder at sale under foreclosure Ill. Tunnel
Co. mortgage
100,000
Adjustment with Joseph Harris for telephone construction, in addition to contract price
456,625
Purchase price under foreclosure Chicago Subway Co. mtge_ ___
50,000
'Advanced for working capital Chicago Tunnel Co
100,000
Balance in hands of committee, applicable to or on account of receivers' debts In excess of cash assets in their hands, receivers'
• fees, compensation of counsel, costs and allowances, and other
liabilities under the decrees covering the acquisition of proper• ties, and for expenses connected with the reoganizatlon and the
• Issue of the new securities
411,976
As it has not been possible to make provision for tile payment of the $1,000,000 receivers' notes and the $30,000 interest thereon which became due
July 1 1912, out of the funds in the hands of the committee, the Court has
ordered the extension,of the time of payment of the same until July 1 1913,
and has directed the lien of the same upon the properties of the Tunnel Co.
to be preserved and continued (V.95, p. 175).
Any balance of the above scheduled reserves will be applicable to these
notes or to meet necessities of the new company, and any deficit will be
met by the use of reserve bonds. (Signed Henry W. de Forest, L. C.
Krauthoff, William S. Tod, reorganization committee.]
The auditing company appointed by the Gas, 011 and Electric Light
Committee of the City Council on July 19 made a report stating that from
Oct. 10 1911 to June 1912 the Illinois Tunnel Co. never had less than 20,000
bona fide telephone subscribers as required by the franchise of Feb. 20 1899,
and that allowing for reasonable delays caused by the city, the company
has lived up to all the provisions of the franchise and up to May 1 1912 had
spent $4,387,888 on plant and equipment, not including interest charges.
The number of subscribers is given as 20,111 on June 1 1911 and 23,214 on
June 1 1912 and the average monthly receipts in the period covered by
the investigation as 586,229. The city's law department also rendered an
opinion that the courts would not sustain a resolution forfeiting the rights
of the company.—V. 95, p. 175.
[VoL..Lxxxxv.
and will return to New York about next Monday. I have not heard directly
from the gemmittee whether my proposition has been aocepted or not.
But I do hear indirectly that it Is considered satisfactory by the committee."
There may be some detalls.however,whIch the committee will not accept.
If the proposition Is accepted by the security holders represented by the
protective committee, the $3,500,000 Denver Railways Securities Co. notes
will, It Is stated, be taken up either by payment in cash or by exchange
for securities on which the fixed charges will be earned.—V. 95, p. 47.
Erie RR.—Traffic Agreement.—A traffic agreement has
been entered into with the Baltimore & Ohio, under which the
company will for the first time be able to handle traffic between Baltimore and Chicago and gain an entrance into
Southern territory.
Under the agreement, traffic secured in Southern territory and routed over
the B. & 0. will be transferred to the Erie at Youngstown, 0., giving the
latter a haul of some 400 miles between Youngstown and Chicago. Traffic
can also be solicited in the Chicago district for delivery at Baltimore, giving
the road two Eastern ports to which it can deliver freight, New York and
Baltimore, instead of New York only, as heretofore.
,
When the Western•Maryland extension to connect with the Pittsburgh
& Lake Erie at Connellsville, Pa., is opened up, about Aug. 1, the Erie
will have another outlet to Baltimore. The traffic alliance between the
Erie and the Pittsburgh & Lake Erie, which has been in force for some y•ears,
provides that the Erie should have privileges similar to those already existing over any extensions which the Pittsburgh & Lake Erie might make,
or through any alliance which it might make with other roads. From
Youngstown, 0., the Erie can route freight to Baltimore, under the new
arrangement, either over the Baltimore ea Ohio or the Pittsburgh & Lake
Erie-Western Maryland lines. The Erie is expected to obtain considerable increase In business from these new connections.—V. 01, p. 1695.
Great Northern Ry.—Joint Trackage Arrangement into
Winnipeg Now Operative.—The Midland Ry. of Manitoba,
has lately been formed in the joint interest of this company and the Northern Pacific Ry.Company and has obtained
trackage rights from the Canadian Northern Ry. between
Emerson, Man., and Winnipeg, 68 miles, for 20 years, with
provision for an extension to a term of 999 years.
The trains of the American road are thus run into Winnipeg by their
own crews, but they are not to do any local business. If, by order of the
Railway Commission, or otherwise, local business should be done, the
Canadian Northern is to have 80% of the gross receipts. Engines of 192
tons are to be used, and the Canadian Northern agrees within 9 months to
reconstruct the bridges where necessary and lay 80-lb. rails. The rental
at the Winnipeg terminal is to be $2 50 for each revenue train movement,
with 50 cents extra for every car in a train over eight, besides other charges.
—V. 95, p. 47.
•
Groton (Conn.) & Stonington St. Ry.—Acquisition, &c.—
The company (the principal Eastern Connecticut corporation of the Plant
interests), which recently took over control of the Norwich & Westerly
Traction Co., has elected the following directors and officers: Morton F.
Plant (Chairman of board and executive committee), A. B. Locke of Boston (President, F. de C. Sullivan of New York (Vioe-Pros.), Robert W.
Perkins (Treas.) and Charles D. Noyes of Norwich. Christopher L. Avery
and Thomas Hamilton of Groton, H. M. Verrill of Portland, Mo., and A. H.
Chappell of New London.—V. 80, p. 2344.
Huntington Richmond & Hamilton RR.—Reorganized Co.
The company has been Incorporated as imooessor of the Cincinnati Bluffton & Chicago RR., of which ,e,eiver was appointed on March 14 1908.
The officers are: Pres., S. H. Bracey, Chicago; Gen. Mgr., J. 0. Curtis,
Huntington, Ind.; Sec., Charles Blackburn, Chicago; Treas.. Henry George,
Aurora, Ill.
Idaho Railway, Light & Power Co.—Offer Expires Aug. 1.
—The offer to exchange the common or pref. stock of the
Idaho-Oregon Light & Power Co. at office of Kissel, Kinnicut & Co., 14 Wall St., for a like amount of the common or
pref. stock of the Idaho Railway, Light & Power Co., share
for share, will expire on Aug. 1 1912. A circular dated
July 11 gives the particulars shown in V. 94, p. 1626.
Kansas City Ry. & Light Co.—Deposit of Stock.—A committee consisting of George M. Reynolds, President of the
Continental & Comm. Tr. & Say. Bank, Chicago; Oscar Fenley, President of Nat. Bank of Kentucky at Louisville, and
H. T. Abernathy, Vice-Pres. of the First Nat. Bank of Kansas City, Mo, urges deposit of both the common and pref.
shares with the Cont. & Comm. Tr. & Say. Bank, Chicago,
as depositary under agreement of July 10 1912.—V.95, p.176.
Lancaster Oxford & Southern RR.—Sale of Road.—
The bondholders' committee, which In March last purchased the road at
foreclosure sale, on July 19 accepted the offer of $50.000 therefor made by
W. U. Hensel of Lancaster, Pa., representing Philadelphia Interests whose
identity has not yet been disclosed—V. 94, p. 912.
Manhattan Bridge Three-Cent Pare Line.—Operation.—
See Brooklyn de North River RR. above.—V. 05, p. 111.
The Public Service Commission has ordered a hearing on Aug. 2 on the
application to increase the stock from $50000 to $1,000,000 and on July 30 •
ehoard of Estimate.—V.95, p.111
on approving the franchise granted by time
Minneapolis & St. Louis RR.—Projected Canadian Exten
See Minn. St. Louis & Canadian By. bclow.—V.04, p. 827, 631.
Chicago Utilities Co.—Financial Statement.—
See Chicago Subway Co. above.—V. 95. p. 175, 47.
Minneapolis St. Louis & Canadian Ry.—New Company.—
Cincinnati Bluffton & Chicago RR.—Successor Company. The company, incorporated in Minnesota July 22 1912 with
See Huntington Richmond & Hamilton RR. below.—V. 93, P. 730.
$7,000,000 authorized stock, will build a line in the interest
Cleveland (Electric) Ry.—$3,014,920 New Stock Authorized of the Minneapolis & St. Louis RR. The road is projected
from
Watertown, South Dakota, on the M. & St. L., to the
—Subscription Rights.—The directors (subject to the approval
of the Ohio P. S. Commission) on July 21 authorized the Canadian border, about 325 miles, where connection will
made
with the Canadian Northern and the Grand Trunk
be
.sale of $3,014,920 additional stock.
The proceeds of the sale of the new stock will be used to pay for exten- Pacific. • Compare V. 93, p. 469, 666; V. 94, p. 68.
'SIMS, betterments and permanent improvements proposed by the City
Mississippi River & Bonne Terre Ry.—Acquisition.—The
Council and to pay in part the bonds (about $5,000,000) of the Cleveland
Electric Ry. maturing March 1 1913. Stockholders of record Aug. 15 will company, operating a steam road from Riverside, Mo., to
have the right to subscribe at par for 20% of their holdings, payable in two
,equal installments on Dec. 2 1912 and Feb. 1 1913. To cover the com- points in the Southeastern Missouri lead districts, a total
pany's needs between Oct. 1 and the payment of the first installment in of 65 miles,thas purchased the St. Francoii Coun. y Electric
December the officers are authorized to borrow up to $500,000 on the company's notes. The directors will take up later the matter of issuing further Ry., ex.ending from De Lassus and Federal, Mo., which
stock to provide for the redemption of all the bonds falling due on March 1 will be operated in connection with the steam road.
next.—V. 95, p. 175.
Columbus(O.)Urbana & West.(Elec.) Ry.—Receiver's Ctfs.
The Common Pleas Court of Franklin County, Ohio, has authorized Receiver Stephens to issue $286,000 receiver's certificates to extend the road
to Rathbone, 0. the location of the Ohio Girl's Industrial Home. Com110.
pare V. 95. D. '
Denver Northwestern & Pacific Ry.—Offer to Purchase.—
Newman Erb, President of the Minneapolis & St. Louis, on
July 24 announced that he had made an offer on behalf of
hiniself and associates' to reorganize and refinftnce the company. Mr. Erb further said:
"Details will have to come from the protective committee headed by Benjamin Strong Jr. This committee is holding a meeting In Denver to-day
The new owners of the electric line have placed its management with the
National Light & Power Co., which operates a number of gas and electric
light, power and traction properties in the Middle West. The St. Francois
Company's line will be improved and extended. A spur of the steam line
running to the town of Flat River will be electrified, giving the othoteic
line an entrance into a profitable territory. Judson H. Boughton, President of the National Light & Power Co., will be Vico-President and managing director of the electric line.—V. 93, p. 871.
New Hampshire Elec. Rys.—Consolidation of Controlled Cos.
The Massachusetts Northeastern Street By., formerly the Haverhill &
Southern New Hampshire Street Hy., which is controlled by the New
Hampshire Elec. Rys., has petitioned the Massachusetts Railroad Commissioners for authority to purchase the Haverhill & Amesbury Street By.,
the Haverhill Plaistow & Newton Street Hy., the Lawrence & Methuen
Street By. and the Hudson Pelham & Salem Street Ry. and to Increase its
capital stook by $290,000 to acquire the oamo.—Y. QS. D.47.
JULA 27 1912]
THE CHRONICLE
New York New Haven & Hartford RR.-Electrification,
&c.-See Boston & Prov. RR.. above.-V. 95, p. 176, 48.
Northern Electric Ry., California.-Application Granted.The California RR. Commission has authorized the company to issue
$600,000 30-year 5% bonds. The proceeds will be used toward the construction of the Mayrsville and Colusa branch and fora branch across the
Sacramento at Meridian. The issue of the 8500.000 additional applied
for will be considered later.-V.94, p. 1509.
Norwich &.Westerly Traction Co.-Sale of Road.See Groton & Stonington Street By. abovc.-V. 94, p. 470.
Ohio Electric Ry.-Reported Merger Plans.-Cincinnati
papers report that an Eastern syndicate is negotiating for
the purchase of electric roads centeririg about Cincinnati with
a view to merger, viz.:
Authorized Stock.
Names of Companies$1,500,000
Cincinnati Georgetown (go Portsmouth fly
1,000,000
Cincinnati Lawrenceburg & Aurora Electric Street By. Co_
750 000
Cincinnati Dayton & Toledo Traction Co
2,200,000
Cincinnati & Iamilton Traction Co
1,650,000
Cincinnati Milford & Loveland Traction Co
3,500,000
Interurban Railway & Terminal Co
'13,000,000
Northern Ohio Traction & Light
25,000,000
Ohio Electric Railway Co
20,000,000
Ohio Traction Co
3,500,000
Scioto Valley Traction Co
15,000,000
Toledo Railways & Light Co
1,000,000
Cincinnati & Hillsboro Traction Co
2,250,000
Toledo Bowling Green & Southern Traction Co
43,000,000
Cincinnati Union Depot & Terminal (project)
It is surmised that the prospective purchasers may be identified with the
parties who recently acquired control of the Columbia Gas & Electric Co.
(V. 95, p. 178).-V. 94, p. 1627.
237
The contract for the construction of the dam on the first development of
the new hydro-electric plant of the West Penn Traction & Water Power Co.
on the Cheat River, W. Va., was let July 22, the amount named being about
$1,000,000. This contract does not include the machinery and equipment.
The first development will have an installed capacity of 48,000 h. p., but
it is expected that over 100,000 h. p. will be available when the up-river
developments are completed.
When the Wheeling properties are taken over, the West Penn Traction
Fe Water Power Co. will serve a population of about 580.000 with its railways, and 600,000 with its lighting and power system, which is exclusive
of any part of the population of Pittsburgh. [See map on p. 103 of "Electric Railway" Section.]-V.94, p. 1628.
Western Maryland Ry.-Opening of Extension.-The 87mile line to connect with the Pitts. & Lake Erie, extending
from a point 2 miles west of Cumberland, Md., to Connellsville, Pa., will be opened for freight traffic on Aug. 1.
Passenger traffic is expected to begin about Oct. 1. See map
on page 137 of "Railway & Industrial Section."-V.95, p.50.
Wheeling (W. Va.) Traction Co.-Sale to New Interests.See West Penn Traction & Water Power Co. above.-V.94. p. 1628.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Alabama Consolidated Coal & Iron Co.-Sale Delayed.Judge Grubb in the District Court on June 29 made an order
approving a contract between the receivers and the Baltimore Trust Co. under which the latter will take over the
$1,250,000 bonds pledged for the notes held by the trust
company at private sale and give the company until Dec. 20
to re-purchase the same.
Ohio River RR.-Merger into Baltimore & Ohio.The receivers on June 29 made a contract with the trust company subject
The stockholders of the company and of the Parkersburg Branch RR. to the approval of the U.S. District Court for the Northern District of Alawill vote on Oct. 19 on selling the properties to the Baltimore & Ohio, which bama and the trustee in bankruptcy when appointed, whereby, instead of
owns nearly all of the stock. The B. & 0. will act on the matter on Nov. 18. selling at public sale the $1,250,000 6% bonds, they should be sold at private
sale to the trust company for a sum representing principal, interest and ex-V.73, p. 287.
penses of the trust company, the trustee In bankruptcy to have the option
Pacific Gas & Electric Co., San Francisco.-Acquisition.- (to
Dec. 20 next) to re-purchase the deposited bonds by paying therefor
of the conditions of the reThe company on July 19 applied to the California RR. Corn- $385,000 with interest to date of payment. One
the trustee is that all the bonds of the company outstanding
purchase
mission for authority to purchase the property of the Los under thebyfirst
consolidated mortgage of 1904 to the International Trust
Gatos Ice, Gas & Electric Co. for $187,763.-V. 94, p. 1764. Co. of Maryland be recognized as having been legally issued and that their
validity shall not be questioned. Compare V. 95, p.112; V.94,p.1765, 1567.
Parkersburg Branch RR.-Merger into Baltimore & Ohio.
American Bank Note Co.-Extra Dividend.-An extra divi-See Baltimore & Ohio RR. above.
dend of M of 1% in addition to the regular (quarterly)
New
York
Transit
in
City.-Construction.
Rapid
1%, as maintained from Aug. 1906 to May 1912, incl., has
The P. S. Commission on July 23 signed the contracts for two additional
sections of the Lexington Ave. subway, one (No. 14) involving $3,880,775, been declared on the $4,495,898 common stock, both payable
including the tubes under the Harlem River and extending south, and the Aug. 15 to holders of record Aug. 1.-V. 94, p. 695, 700.
other (2 A) being for the construction of the double-decked Canal St. station on the Broadway line, at a cost of $912,352. The plans at the lastAmerican Hide & Leather Co.-Earnings.changed in order to afford the Brooklyn Rapid Transit
named point were
Co. a physical connection between the Crosstown Canal Street line and the
Broadway line, this work, which is estimated to cost about $500,000, to
be paid for by the company.
The Broadway-Lexington Ave. subway Is now under contract from
Park Place and Broadway to 157th St. and Jerome Ave. in the Bronx,
except Sections 4 and 5, lying between Illeecker and 26th streets, part of
which will not be required if the proposed dual subway system is adopted.
-V. 95, p. 111, 48.
St. Francois County Ry.-Sold to Steam Road.See Mississippi River & Bonne Terre By. below.-V.91, p. 519.
St. Louis Springfield & Peoria RE.(Illinois Traction Co.).
-First and Refunding Bonds.-Early in the year N. W. Halsey & Co. and associates purchased a large block of these
bonds, $880,000 of which, recently sold through the firm's
London office to Kitcat & Aitken, have been placed with
nglish interests. Merrill, Oldham & Co. of Boston have
.11 arketed throughout the New England States the balance
the issue. See official statement in V. 95, p. 177.
Tidewater & Southern (Electric) RR.-Partial Operation.The "first train" from Modesto, Cal., to the Stanislaus River was operated
n July 14.-V. 95, p. 112.
Toronto Ry.-4
Currency Bonds Called.-
Fifty ($50,000) 4i/,% currency bonds and 248 (224,800) sterling bonds
issued under mortgage dated Sept. 1 1892, for payment on Aug. 31 at par
and Int. at Canadian Bank of Commerce, Toronto.-V.94, p. 485.
United Gas & Electric Corp., Conn.-Controlled Company.
Sec Harrisburg Light & Power Co. under "Indust's" below.-V.95, p. 177.
Wabash-Pittsburgh Terminal Ry.-Rearganization Status.
-The conferences which have been had between the two
committeos representing the first mortgage bondholders
and also with the other interests have so far progressed,
as to warrant the expectation that a reorganization
-plan will be announced within the next 30 days. The plan,
it is understood, will not be brought out until its success
is assured. A settlement is proposed with the Wabash
interests which will eliminate it from the plan.-V.94, p.984.
Washington Railway & Electric Co.-Earnings.Net (after Int., Pt. Divs. Common Balance,
Gross
&c. (234%). Dividend. Surplus.
6 Mos. ending Earnings. Taxes).
$
June 301,081,325
552,635
2,316,892
212,500 (2%)130,000 186,190
1912
956,962 544,407 212,500 (1%)65,000 135,055
2,163,351
1911
_V. 94, p. 1050.
3 Months ending *Net
Earnings.
June 30$424,905
1912
250,458
1911
12 Months$1,027,713
1911-12
720,325
1910-11
Bond
Interest.
$87,375
91,890
$349,500
367,560
Sinking
Interest on
Balance,
Fund. 8.F.Bonds. Surplus.
136,561
$40,500
1260.469
37,500
35,981
86.083
$149,060
100,000
*162,000
143,940
1867,153
58,825
• After charging replacements, renewals and interest on loans. Net
current assets June 30 1912, $8,854,369.
Pres. Thomas W. Hall and Treas. George A. Hill say the statement for
the 3 and 12 months ending June 30 1912 has been prepared on the same
accounting batis as the annual statement of June 30 1911 and the 12 months'
results are subject to the adjustment of minor reserves and the approval of
auditors.-V. 94, p. 1251, 280.
American Pipe.& Construction Securities Co.-Guaranteed
Bonds.-Brown Brothers & Co. have offered and sold
at par and int. "when as and if issued," subject to approval
of legalities by counsel, the new 10-year 6% collateral trust
gold 6bonds dated Aug. 11912, due Aug. 11922. Redeemable in whole or in part for sinking fund at 10234 and int.
Auth.and outstanding.$3,000,000. Int.F.&A. Par $1,000(c).
Guar. by Amer. Pipe & Construe. Co. A circular shows:
Capital Stock in $100 Shapes [Incorporated in Delaware about July 12 1912].
5% cum. prof. stock [full voting power; callable at 105 and int.1..$1,000,000
Common stock (all owned, except 15 shares. by Am. P.&C. Co.) 2,000,000
This issue of bonds is to be secured by deposit with the Girard Trust Co.,
as trustee, of *7,000,000 bonds of sundry corporations heretofore acquired
by the American Pipe & Construction Co. against the present issue of
$3,000,000. Beginning with Aug. 1 1913, $150,000 bonds shall be called
by lot for payment annually at 102 and int., unless purchased in the open
market at lower prices. After $300,000 bonds have been so paid off, the
company has the right to withdraw 8200.000 par value of pledged securities
for each additional $150,000 payment to the sinking fund. This would
leave over $5,000,000 par value bonds as security for the $1,500,000 maturing at the end of ten years. The company has also the right to make
sales of bonds deposited with the trustee at prices to be agreed upon, the
and int. If not obproceeds to be used to retire additional bonds at 102
tainable below that price.
The company agrees to reimburse the holder for all taxes (other than
succession or inheritance taxes) assessed by the State of Pennsylvania upon
any bond of the issue, or upon the holder by reason of his ownership thereof,
as provided in the mortgage.
[The pref. stock must be redeemed within 15 years at 105 and Int., and
Is guaranteed, principal and int., by the Amer. Pipe & Construction Co.]
Net Earnings of Guarantor, Including Interest Received from Securities Held
for Calendar Years (V. 94. p. 205).
4011.
1910.
1906.
1908.
1909.
1907.
$473.752
2652,890
$506,482
5629,678
$618,043
$615,983
Average for 6 years, $582,804. See also V. 95. p. 178.
American Public Utilities Co.-Stock Listed.-The CleveWest Penn Traction & Water Power Co.-Purchase of
Wheeling Traction Co.-This company, controlled by the land Stock Exchange has listed $1,714,000 preferred and
American Water-Works & Guarantee Co. of Pittsburgh, $2,400,000 common stock.-V. 95, p. 50.
Pa., has purchased the Wheeling Traction Co. which owns
American Water-Works & Guarantee Co., Pittsburgh.traction lines in Wheeling, W. Va., and has interurban lines
See West Penn Traction & Water Power Co. under "Railroads" above
Great Shoshone & Twin Falls Water Power Co. below.-V.94, p. 1628,
serving some 40 cities and towns in the Ohio Valley, both to and
1567.
the north and south of Wheeling, notably Bridgeport,
Aroostook Construction Co.-Balance Sheet.-This comMoundsville, Bellaire, Benwood, Martins Ferry, Mingo
Junction and Steubenville. The property will be taken over pany, which controls the Bangor & Aroostook RR., reports:
Balance Sheet July 2 1912 (Total Each Side $4,729,109).
as of Aug. 1 1912, increasing the miles of track operated to
$500,000 Invest's (stock 80 bonds) _$4,489,400
Capital stook
259. Surveys are now being made for the construction of 5-year
notes (V.94,p.1382) 1,500,000 Due from companies and
3,914
Individuals
57,686
a high-tension power transmission line connecting with the Dividend account
5,802 Construction accounts
4,339
interest accounts_
West Penn Traction & Water Power Co.'s system through Sundry
25,917 Cash
88,970
Due to cos. & individuals_
50,000 Sundry profit and loss
Bills payable (not due)_ _ _
Washington, Pa. J. S. & W. S. Kuhn, Inc., say:
On the basis at which the Wheeling company was taken over, the property Is earning a handsome surplus.
The company was incorporated In October 1900, and its property is In
excellent condition, showing annual gross earnings of over $1,000,000, and
now paying dividends of 5%. The company has 130 cars and operates
50.42 miles of track, equipped outside of the city with 85-1b. standard rails
and In the city with 95-lb. girder rails. It serves a population of approximately 150,000, and its franchises are for the greater part perpetual and
the balance for 50'years. The West Penn Traction & Water Power Co.
will shortly begirt the work of extending the interurban lines In several direalms.
2,643,476
88,712
account
Surplus
The voting trustees are Eugene P. Carver, Eugene Delano, of Brown
Brothers 8G Co., and F. W.Cram, Pres. of Bang. de Ar. RR. See offering of
the $1,500,000 notes ($2,500,000 auth.) In May 1912, V. 94, p. 1382.
Atlas Engine Works,Indianapolis.-Receiver's Sale.The property will be sold as an entirety by Receiver Fred.C.Gardner on
July 29. The property includes approximately 65 acres, of which 25 are
covered by buildings. The factory Is equipped for building steam engines.
silent ICnight motors, Poppet valve motors and Atlas Diesel-typo crude oll
onglues.-Y. 95. p. 113.
238
THE CHRONICLE
• Black Lake Consolidated Asbestos Co., Ltd., Toronto.
-
[VoL. Lxxxxv.
Including its branch houses, the company transacts a gross business of
$30,000,000 gross per annum, Total floor space for manufacture of
Plan.-The plan under which it is proposed to reorganize over
plows and other agricultural implements, such as corn planters, disc harthe company was prepared under date of March 12 1912 by rows,farm wagons, manure spreaders, hay tools and corn shelters, 35 acres.
During the past two years large sums have been spent
a committee consisting of Robert F. Massie, 60 Victoria,
St., Toronto, John B. Kay and Hamilton Cassels. De- in acquiring additional plants to further round out its line,
and it is understood that the company will shortly be in
positary, Nat. Trust Co., Ltd., Montreal.
•
The present company has an authorized bond issue of $1,500,000, $1,230,- the market for additional funds to reimburse its treasury.
000 outstanding (V. 89, p. 920), pref. shares of $1,000,000, all outstanding,
Compare V. 92, p. 1245, 1313, 1502.
and common shares of $3,000,000, all outstanding. In order to ootaln
additional capital, it is proposed that a new company be organized to purchase the undertaking, such new company to issue: 6% non-cum. Income
bonds, $1,500,000 (of which $250,000 to be first lien bonds, reserved for
additional machinery, buildings, &c., if required, and $1,250,000 to be
second lien bonds); non-cumulative 7% pref. shares, $1,000,000 and
common shares, $3,000,000. Said bonds and shares will be issued as
far as required, bond for bond, preferred share for preferred share, and
common share for common share, to such of the security holders of tile
present company as shall pay an assessment not exceeding 10% on each
bond, 5% on each pref. share and 2% on each common share, held respectively in the said Black Lake Consol. Asbestos Co. Ltd.; the said payments
to be applied for the purposes of the said new comriany and the remainder of
the new securities (bonds and shares) to go into the treasury of the new company. The assessment was made payable to the committee In one installment on July 15 1912, or in four equal installments (with interest at 6% from
July 15 on the deferred installments) on the 15th of July, Sept., Nov. and
Jan. 1913. A majority of the stook and also bonds has been deposited.
Salefor Bondholders.-The Nat. Trust Co., Ltd., Mon rea!,
trustee under trust deed dated Aug. 11 1909, announces:
Sealed tenders will be received up to and including Aug. 10 1912 for the
purchase of the properties, &c., covered by the bonds as follows: (a) Enbloc, properties in Coleraine Township, Megantic Co., viz.: 1. Union Mine,
with 104 acres. (2) Southwark Mine. (3) Former Black Lake Chrome
& Asbestos Co. property, subject to reservations, and (b) securities of the
Imperial Asbestos Co., Ltd. (V. 89, p. 922), viz.: $793,500 capital stock
(par $100 a share) and $188,500 1st M. bonds.-V.
. 89, p. 920.
British-American Tobacco Co.-Stock.-The stockholders
Dominion Power & Transmission Co., Hamilton, Ont.-Purchase Off.-Press reports state that the deal for the
purchase of the property .has been declared off. See V. 94,
p. 1763.
Electric Properties Co.-The following is authoritative:
As a result of the recent sale of control to a syndicate including the
Westinghouse Electric & Mfg. Co. (V. 95, p. 51), some long-standing debts
between the Westinghouse Machine Co. and its subsidiary have been eliminated and the Miachine Company has received for said control several
millions In cash. It is proposed that the Electric Properties Co. liquidate
certain securities in its treasury for probably about $5,000,000 cash and
that then, with adequate working capital, it shall assist the Westinghouse
Electric in selling various security holdings which have been carried
for 5 or 6 years past. Eventually the Properties Co. will, it Is expected,
conduct an independent business, possibly taking over and later marketing
securities In properties that a well-known engineering concern will manage
and develop.-V. 95, p. 113, 51.
Emerson-Brantingham Co., Rockford, Ill.-Agricultural
Machinery Merger.-William Saloinon & Co., in conjunction
with Kuhn, Loeb & Co., are financing the merger of these
agricultural machinery concerns, noted last week. The
enlarged company will have an authorized capital stock of
$20,000,000 preferred and $30,000,000 common, of which
on July 22 authorized an increase in the common ,stock from the present issue will be $12,000,000 7% cumulative pre9,000,000 to £11,000,000.-See V. 95, p. 178, 50.
ferred and $10,000,000 common. See V. 95, p. 179.
Calumet & Hecla Mining Co.-10-Year Gold Notes Called.
Express Rates.-Decision of Inter-State Commerce Comm.
coupon
gold notes dated Mch. 1 1909 have
The $1,000,000 5% 10-year
IA ..; on a ).e
• c iib) id
) ,e
been called for payment at par and int. on Sept. 1 at Old Colony Trust Co.,
General Electric Co.-New Stock.-Stock Dividend-DeBoston (as successor trustee to the City Trust Co.). Compare V. 94, p.
1451.-V. 94, p. 1629.
bentures Authorized.-A special meeting of stockholders
central Leather Co.-Earningsfor 3 & 6 Mos. end. June 30. has been called, to be held Aug. 29, for purpose of voting
3 Mos.
6 Mos.
upon propositions to increase the capital stock from $80,000,Total net earnings of all properties*
$2,474,629 $4,791,299
000 to $105,000,000. After such increase there will be paid
Less expenses and losses of all cos. Incl. Interest on
outstanding obligations (except bonds)
809,228 1,585,094 to stockholders of record Dec. 31 1912, out of surplus earn$1,665,401 $3,206,205 ings, a dividend of $30 per share, payable in stock of the
Add income from investments'
14,153. company at par. This dividend will call for $23,292,510 of
2,296
Total
$1,667,697 $3,220,358 new stock, and will increase the outstanding stock to $100,Deduct-Interest on 1st M. 5% bonds
$459,552 $919,104 934,210. The accumulated surplus out of which it is paid
Interest on debentures
40,200
80,400
Preferred dividends
582,732 1,165,464 amounted on Dec. 31 1911 to $29,019,892, against $23,022,706 Jan. 31 1911.
Surplus for period
$585,213 $1,055,390
The directors also have authorized an issue of debentures,
• Total net earnings are stated after deducting operating expenses, in- limited to $60,000,000 and bearing 5% interest or less.
cluding those for repairs and maintenance, approximately $332,874 for
the quarter and $669,749 for the six months.
Total surplus June 30 1912, $2,825,847.-V. 94, p. 1188.
Central Massachusetts Light & Power Co., Boston.-Pref.
Shares.-C. D. Parker & Co., Boston, are offering at 105 flat
the tax-exempt preferred shares of this, their new holding, company, a voluntary trust association. Total auth.
'share capital not stated; present issues to be, pref., $460,000;
common, (?). A circular shows:
The preferred shares participate equally with the common In regard to
subscription and voting privileges, as well as dividends above 6% in case
dividends of over $6 are paid on the common shares in any one year.
Dividends to which Pref. Shares Are Entitled-Price in case of Liquidation.
1912-13. 1913-14. 1914-16, 1916-18.
Thereafter.
(May 15 Yrs.)
5%
Dividends (Q.-F. 15) 5%
5%
5
6%
$110
$115
$120
$125
Liquidation
First National Bank, Boston, registrar. Old Colony Trust Co., transfer
or
notes
authorized
nn
bonds
or issued against the assets
agents. There are
of the company, and ny the terms of the deed of trust no prior liens can be
issued except by vote of 75% of the pref. shares.
The company owns, along with a reserve fund of $25,000 invested in their
shrrt-term notes, the entire capital stock [amounting to $150,000, $ (?),
and $40,000, respectively] of the Central Massachusetts Electric Co., the
Union Light & Power Co. and the Ware Electric Co., serving 18 prosperous
Massachusetts towns having in 1910 a total population of 69,011 (against
62,936 in 1900), and materialy greater in summer, viz.: (a) Central Mass.
El, Co., Palmer, Monson, Warren, Wilbraham, West Brookfteld and Belchertown, with extensions started to North Brookfield, Brookfield and East
Longmeadow. (I') Union Light & Power Co., Franklin, Foxboro, Plainville, Wrentham, Norfolk and Bellingham, with North Attleboro shortly
to be reached. (c) Ware El. Co., Ware and Hardwick. (On June 30 1911
the Central Mass. El. Co. had outstanding $150,000 6% bonds due 1924,
int. F. & A. at Int. Tr. Co., Boston; also $56,000 notes payable; the Union
El. Lt. Co. of Franklin, $30,000 bonds and $63,424 notes payable, and the
Foxboro Elec. Co. $6,063 notes; these companies apparently merged In.
Union Lt. & P. Co.; Ware Elec. Co., $25,500 notes payable.
J'ne 30 Yrs.- 1899-00. 1904-05. 1910-11. 1911-12(abt.) 1912-13(est.)
Gross earnings_ _ _ _$53,357 $73,268 $135,626 $171,986
$206,384
18,407
24,786
51,943 (Not stated.]
35,598
Net earnings
•
Surplus earnings available for dividends after add$36,730
ing other income ($1,500 each year)
$50,489
23,000
Pref. div. requirements Cent. Mass. Lt. & P.Co
23,625
Est. dwellings
Now, not connected.
Then.
Acquired.
No. of customers488
681
July 1911
Union Light & Power Co
2,793
295
295
June 1912
Ware Electric Co
1,259
852
Mch. 1912
1,050
Central Mass. Elec. Co
4,689
405 h.p. 658 h.p.
Total connected motor load
Estimated amount of steam h. p. In use, 18,300.
The new owners purpose to push Intensive development never tried by
Officers: Eugene P. Rowell (for 12 years Gen.
the former management.
Man. of Plymouth El. Lt. Co.), Pres. and Gen. Man.; Charles R. Adams,
Treas.; Edw. C. Mason, See. Trustees: Eugene P. Rowell, Arthur H.
Wellman, Fred. T. Ley, Chauncey D. Parker and Bowen Tufts. The two
last named are members of the firm of C. D. Parker & Co.
Citizens' Gas Co. of Indianapolis, Ind.-Bonds Sold.
It Is announced that the $400,000 5% bonds offered last week have all
been sold. The holders of about one-third of the outstanding $600,000 6%
bonds have, it is stated, availed themselves of the option of exchange for
the new 5% bonds, and it is expeeted that nearly all of the bonds will be
-V.94,p.178,113,
thus voluntarily exchanged. Compare V.95, p. 178, 113.
Computing-Tabulating-Recording Co.-Decision.
1698.
94,
p.
See Toledo Computing Scale Co. below.-V.
Corporation of United Cigar Stores, New York.
See United Cigar Stores Co. of America below.-V.94, p. 1451,
PI Deere et Co.(Plows and Agricultural Implements), Moline,
Ill.-Earnings-Financing.-This company, the largest man-
ufacturer of plows in the world (business established in 1837),
it is reported had actual net earnings for the first six months
of 1912 of $2,649,163.
Official Statement Issued July 27.
Such dividend Is to recoup stockaolders In part for dividends passed or
reduced In period of years after 1893. No new stock is being offered for
subscription, the $30 per share not being an offering of "rights" in any sense,
but a direct distribution of stock from the surplus earnings, in partial recognition of dividends which In prior years have been omitted or reduced.
For the future financial needs of the company it Is proposed to Issue
debentures from time to time, and for this purpose the directors have authorized an issue of debentures limited to $60,000,000, bearing 5% int. or
less. This issue is author zed for the purpose of securing capital for the
varied corporate uses of the company in future years.-V.95, p. 114.
General Motors Co.-Loans Paid-Sinking Fund Pay-
ments.-The company has paid off all of its loans, anticipating payment of those that were -not yet due. Within a
few days the company will pay si,000,noo to the Central
Trust Co., trustee of its first lien 6% notes, to be applied to
the redemption of notes, on account of the $1,500,000 payable for that purpose on Oct. 1.
The production schedule for 1912 has been completed and the product
disposed of,the Buick and Cadillac companies having completed the cleaning-up process as early as July 1. The production for 1913 is now under
way and cars of 1913 models will be ready for market about Aug. 1.V. 94, p. 985.
(B. F.) Goodrich Co.-First Common Dividend.-An ini-
tial dividend of 1% has been declared on the $60,000,000
common stock, payable Aug. 15 to holders of record Aug. 5.
-V.94, p. 1767.
Great Shoshone & Twin Falls Water Power Co.-Offering
of Bond-Secured 6% Guaranteed Notes.-For the purpose of
refunding 6% collateral trust coupon notes due Aug. 1.1912,
and for extensions, J. S. & W. S. Kuhn, Inc., Pittsb., Pa.,
N. Y., Phila. and Chicago, and Kuhn, Fisher & Co., Inc.,
Boston, are placing at par and int $374,000 6% bond-secured coupon notes, principal and interest guaranteed by
American Water-Works & Guarantee Co., Pittsburgh, Pa.
(V. 94, p. 1509, 1567, 1628). Dated Nov. 1 1911. Par
8500 and $1,000 (c*). Maturities available, Nov. 1 1920
and 1925. Callable at 1023' and int. at any interest date on
four weeks' notice. Int. M. & N. 1 at Commonwealth Trust
Co., Pittsburgh, trustee. A circular shows:
Secured by co.'s 1st M. 5% bonds 1 g times the face value of the notes
Financial Statement July 15 1912.
Capital stock
$1,500,000
,0050
,0
,0000
First M. 5% gold bonds dated May 1 1910, auth., $101,5
50
;
issued (security for notes)
Remaining $8,445,000 reserved, being issuable for extensions,
betterments and acquisitions at not more than 90% of cost
thereof, but only when the net earnings exceed interest requirements on outstanding bonds and those to be issued.
6% bond-secured notes of 1901, auth., $4,000,000; now offered__
374,000
___
trust notes
__ _______ _ collateral__
Reev
er
.v9e1d,tpo.retire
339 f_t.
870,000
Remaining $2,756,000- reserved, lssuable only upon deposit of
additional amounts of the 1st M. 5% bonds, at 125% of
bonds to 100% of notes.
Earnings-Cal.Year 1911 and Est. 1912 andFirst Half of 1911 and 1912.
1911-Year-1912.
1911-1st 6 Mos.-1912.
$131,459 Est.$180,000
Gross earnings
$55,589
$80,427
78,402 Est. 115,000
Net (after taxes)
$32,468
$45,628
The interest charges on the outstanding $1,244,000 of 8% notes, which
includes this offering, is $74,640.
(1191
The company is developing hydro-electrie plants, ultimate aggregate
capacity of 92,000 h. p. (at Minimum water stage), InSouthern Idaho, on
the Snake River, the seventh largest river In the United States. It is estimated that that thero is a sufficient flow and fall of water at the points whero
JULY 27 1912.]
THE CHRONICLE
installations are located and under way to develop over 150,000 h. p.
Initial developments at Great Shoshone Falls (which is 55 ft. higher than
Niagara Falls) and at Lower Salmon Falls are furnishing the electric current now being developed. The company is also actively at work on developments at other points. There is and will be a ready market at profitable
prices within easy transmission distance for the entire product as developments and extensions are completed.
Among the cities and towns served at this time with electric light and
power are Twin Fails, Jerome, %VendaII, Hagerman, Hollister, Filer, Buhl,
Glenns Ferry, Ticeska, Kings Hill, Mountain Home, Gooding and Hammett, all thriving municipalities, increasing rapidly in population. The
company has many large contracts for pumping water used for irrigation
and also for mining purposes. The company has about 250 miles of hightension line in service. A large amount has been expended during the past
Year in extending the transmission system, and, as this system practically
covers the greater part of the field in which the company will operate, the
net earnings derived from additional ontracts should show a considerable
increase, as most of the expense of installation has already been paid for.
The company's franchise rights are perpetual, except in unimportant instances, where they are for 50 years -V.91, p. 339.
Hagerstown (Md.) Light & Heat Co.-Consolidation.See Northern Central Gas Co. below.
Hale & Kilburn Co., Philadelphia.-Bankers Purchase and
Offer Substantially All of the $2,293,400 2nd Pref.-Privilege
to Convert into First Pref. Expected to be Operative in 1914.An option to purchase substantially all of the $2,293,400
2nd pref. stock having been exercised, Edward B. Smith &
Co., N. Y.and Phila., and Pomeroy•Bros., N. Y., are offering
the unsold portion at par and div. A circular shows:
(see also V. 92, p. 959.):
Condensed Extracts from Letter of Sec.-Treas. John B. Kilburn, Phila.,
June 15 1912.
In connection with your acquisition of the 2d pref. stock, I beg to state
that this stock will after Dec. 31 1913 become first pref. stock, provided
the net earnings for the preceding 12 months have aggregated $420,000, or
for two years have been $840,000. Present earnings indicate that this conversion is certain, in which case the priority of the first pref. over the 2d
pref. will cease and there will be only one class of pref. stock, all 7% cum.,
and preferred p. & d. Both classes of pref. are redeemable, all or part, on
any dividend date after Jan. 1 1914 at not over 120%, with accrued dividends, and until $1,000,000 1st pref. is retired, no dividends in excess of
4% per annum can be paid upon the common stock unless $12,500 is set
aside each quarter to retire tile first pref. No bonded debt or mtge. can
be created without consent of 80% of total pref. stock; there is now no
bonded debt or mtge. and no lien except $67,000 ground rents.
The company manufactures car seats for steam and electric railroads,
metal trim for steel cars, offices, &c., steel bodies for automobiles and highclass furniture, cabinet and interior work.
The business is expanding at a rapid rate, May 1012 being the record
month. Orders on hand June 10 1912, about $1,750,000, comparing with
$663,556 June 1 1911. The outlook is for much greater expansion. The
average net earnings for 1910 and 1011 applicable to dividends were $943,070. In 1911, aster deduction of the reserve fund, the net profits were
equal to 2 IS times the dividend requirements on both classes of pref. stock,
aul after allowance for pref. dividends were equal to over 11% on the common stock. [4% was paid.-Ed.) Gross earnings from Jan. 1 1909 to
May 30 1912 have averaged at rate of $3,306,048 per ann. (V. 94, p. 1180).
Balance Sheet of April 30 1912 (7'otal Each Side $9,113,181).
,
$3,993,698 1st pref. stock (less $206,Cost of property
$2,000,000
600 unissued)
368,025
Other property
46,467 Second preferred stock__ _ 2,293,400
Patents
4,000,000
Development of new designs 39,232 Common stock
346,758
3,154,262 Bills & acc'ts payable_ __ _
Investments
8,496
95,189 Taxes accrued, &c
Cash
523,601 Extraordinary deprec.
Accounts receivable
50,000
contingent fund
15,403
Bills & rents receivable
28,113 Profit Jan. 1 to Apr. 30,
Insurance premium, &c
$169,410;diva,$115,134;
Stock on hand and in probal., $54,276; add surp.
848,693
'
cess, &o
414,527
Jan. 1, $360,251
Early in 1911 strong business and financial interests acquired control,
Messrs.Hale and Kilburn remaining with the corporation. The connections thus established have been of great value in developing and expandViceing business. Officers and directors: Pres., Delmar W. Call, N.
Y.•.ChairPres., Robert B. Caverly, Phila.; Chairman of Board, Henry S. Hale:
man executive committee, Otis H. Cutler, Pres. Am. Brake Shoe & Foundry Co.; Chairman finance committee, Albert H. Wiggin, Pres. Chase Nat.
Bank, N. Y.; Fred. H.Eaton, Pres. Am. Car & Foundry Co.: Arthur M.
Kittredge, former Pres. Barney & Smith Car Co.; Waldo H. Marshall, Pres.
Am. Locomotive Co.; Joel S. Coffin, Pres. Franklin fly. Supply Co.; Edward H. Fallows, N.Y.; Winthrop Sargent, Phila.; Harry W. Davis, Wil
mington, Del.; Arthur II. Lockett, Pomroy Bros., N. Y.; Herbert H. Dean,
E. B. Smith & Co., N. Y. and Phila. Compare V. 92, p. 950, 1035.V. 94, p. 1699.
239
improvements and extensions in the next few years, for which $500,000
treasury bonds have been reserved. The result is a better understanding
with the city authorities.
The company will serve (exclusively in the city) both Harrisburg, Pa.,
and many adjacent towns with electricity for lighting, heating and power.
Population of city, 1900, 53,000; 1910, 64,580; increase, 22%. Total
population estimated at over 100,000. Harrisburg, as a railway centre and
as a point of distribution in Pennsylvania for manufacturers, wholesale
and jobbing houses, ranks second only to Philadelphia and Pittsburgh
Property.-Modern generating and distributing plant, the steam-generating plant being supplemented by water power purchased from the York
Haven Water & Power Co.; 120 miles of pole lines, 460 miles of wire and 28
miles of underground conduits and insulated cables, &c. Material additions and extensions arc planned. The capacity of plant by Dec. 13 1912
should be about 6,000 h. p.
Combined Earnings for Calendar Years (Seven Months of 1912 Estimated).
1912.
1911.
$358,831 $385,200
Gross
$190,176 $196,452
Net (after taxes)
$50,000
$50.000
Interest on underlying bonds
62,500
82,500
Interest on first and refunding bonds
$83,952
Balance, surplus, on basis of present fixed charges_ _ $77,676
Resulting from economies due to consolidation and new improvements.
the net for bond int. In 1913 is est. at $240,000 and in 1914 at $280.000.
Ownership, &c.-The company is controlled by the United Gas & Electric Corporation, one of the largest public utility holding companies in the
country. Thus, besides efficient local management, the company will have
the advantage and advice of trained experts and engineers on the staff of
the United Gas & Electric Corp. [See V. 94, p. 1696.]
Illuminating & Power Securities Corporation.-All Sold.-
William P. Bonbright & Co. announce that the $1,250,000 7% pref. and
$500,000 common stock recently offered by them has all been sold.V. 94, p. 1699.
Intercontinental Rubber Co.-New Chairman.William C. Potter, who resigned as President to become the Vice-President of the Guaranty Trust Co., has been elected Chairman of the board.
V.94, p. 419.
International Harvester Co., Chicago.-Voting Trust to
End Aug. 1.-The voting trust agreement dated Aug. 13
1902, covering the common and preferred stock, will expire on Aug. 11912, and holders of stock trust certificates
arn requested to present said certificates (duly endorsed for
transfer in blank) to the First Trust & Savings Bank of
Chicago as soon as possible on or after Aug. 1 for exchange.
The Stsndard Trust Co. of N. Y. City will act without charge as agents
for the depositors and will receive on and after Aug. 1 1912 deposits of
stock trust certificates and effect exchanges for account of the depositors
through First Trust & Savings Bank. Both the preferred and common
stocks have been listed on the N. Y. Stock Exchange, the listing effective
on and after Aug. 1 1912. No transfers of stock trust certificates will be
made after July 31 1912. The voting trustees are: George W. Perkins,
Charles Deering and Cyrus H. McCormick.-V. 94, p. 1768.
. International Nickel Co., New York.-New $62,000,000
Company Proposed-Exchange of Present International Common for 250% in New Common Pref.for New Pref., $for 85s, including $810,000 in the
All of the $8,700,000 1st M.'
Treasury, to be Retired with Cash-Option to Subscribe at Par
4%) New Common.-The shareholders
for $9,000,000 (433
will vote Sept. 5 on a plan approved by the directors for the
consolidation of this company with the Colonial Nickel Co.,
a corporation organized in N. J. July 10 1912 with an authorized capital of $9,000,000 ($5,000 now full paid, remainder
1% paid, but all to be full ,paid in cash) under title
of "The International Nickel Co.,'with an authorized capital
stock of $62,000,000 in $100 shares, of which $12,000,000.
will be 6% non-cumulative pref. (p. & d.) stock and $50,000,000 will be common stock. The new pref. stock will be
issued .in exchange for the present International (6% noncum.) pref. stock, share for share, and $250 of the new common stock will be given in exchange for each $100 share of
the existing International common stock.
The $9,000,000 cash to be contributed by the stockholders
of the Colonial Nickel Co. is to be used to retire the outstanding bonds of the International company, any of said bonds
• Hamilton (0.) Gas & Electric Co.-Sale Confirmed.not previously purchased and retired to be called for re19
on
July
Cincinnati
confirmed demption'at 110 and int. on April 11913. For said money
Judge Hollister in the Federal Court at
the sale on July 9 to the representatives of the majority of the bondholders
company is
after tile price had been raised to $430,000 (against the $350,000 previously $9,000,000 common stock of the consolidated
bid). A syndicate represented by 13. H. Kroger of Cincinnati, who opposed to be issued at par, but by agreement made with the stocktile acceptance of the original bid, made an offer of $425,000. Compare
holders of the Colonial Nickel. Co. all the stockholders of the
V. 05, p. 114.
Aug. 14 1912, pref.
Harrisburg (Pa.) Light 86 Power Co.-Merger-Bonds Of- present International company of record
to purchase
fered.-13ertron, Griscom & CO-., N. Y. and Phila., are plac- as well as common will be given an opportunity
of this $9:000,000 stock at par pro rata; i. e., to the
ing at 95 and int., to net about 5.30%, "first and refunding the bulk
their respective holdings, submtge." 5% 40-yr. gold bonds of this new company, just extent of 4334% (7-16ths) of
at the Bankers Tr. Co., 16 Wall St., on
formed by consolidation, as below stated. Dated Aug. 1 scriptions to be paid
as shall
1912, due Aug. 1 1952, but redeemable at 105 and int. on Sept. 25 1912. The payment for so much thereof
any interest period. Par $1,000 and $100 (c*). Int. F. & not be so taken has been underwritten.
Further Data from Official Circular and "Consolidation Agreement."
A. at Fidelity Trust Co., Phila., trustee. Tax-free in Pa.
Both Dated July 18 1912.
Summary of Letter from Vice-Pres. George B. Tripp Dated July 10 1912.
On or about July 15 1912 tills company will be [was] organized to take
over the properties of the Harrisburg Light, Heat & Power Co. [compare
V. 93, p. 5331 and the Paxtang Electric Co.(V. 80, p. 2224], pursuant to
authority given by a recently passed ordinance of the City Council of Harrisburg. These companies have heretofore been ill direct competition,
resulting in retarding their natural development.
Capitalization.
First and refunding 5% 40-yr. gold bonds auth., $10,000,000;
$1,250,000
issued and outstanding
Reserved to retire Harrisburg Lt., Ht. & Power Co. 1st M. 5s,
1,000,000
due 1924 (closed mtge.-V. 71. IL 1169)
To be issued presently for conduits, &c., as re$500,000
quired by new city ordinance
Reserve:1 for improvements and extensions under
7,250,000
careful restrictions
2,000,000
Capital stock, auth. and issued
The bonds to be issued at present are for the acquisition of the property
of tile Paxtang Electric Co. and for certain immediate extensions and improvements. They are a first mtge. on all property and franchises acquired
from that company, and on all future additions and extensions of the ,Harrisburg Lt. & Pow. Co.', also a lien on the property and franchises acquired
from the Harrisburg Lt., Ht. & Pow. Co., subject only to the $1,000,000
1st (close ) M. 53 due in 1924.
The $7,250,000 reserved bonds in excess of the $500,000 mentioned in
above statement can be issued only for extensions and improvements to
the extent of 85% of the cost thereof, provided the annual net earnings
aro 1 SS times the Interest charge, incl, bonds sought to be issued. The
management is required to apply annually 8% of the gross receipts for
maintenance and depreciation, and from surplus eunings 4% of the gross
receipts for additions and improvements.
Franchises, &C.-The franchises are perpetual and contain no burdensome
restrictions. The ordinance approved' by the Mayor May 20 1912 fixed
rates for 10 years, repealed certain sections of the original franchise of the
Paxtang Electric Co. and requires us to build certain conduits and other
The consolidated company (The International Nickel Co.) will acquire
all of the assets of the present International Nickel Co., and will also receive
$9.000,000 in cash with which to pay off the outstanding bonds, and it will
have a large amount of stock in the treasury available, as required, for the
growth and extension of the business. The new pref. stock will become a
first charge on all assets and earnings,as the outstanding bonds will be paid off.
Capitalization (in $100 shares)-Consolidated Co.-Present Co.
GOWN. CO. Present Co
(1) Preferred Stock 6% non-cum.-To be issued in
$8,912,626 $8,912,626
pref
present
for
$,
for
$
exchange,
Remainder reserved in the treasury to be sold
by the board as and when needed by the company, but first to be offered pro rata to all the
3,087,374
3,087,374
stockholders of consolidated company
_ _ _$12,000,000 $12,000,000
Total auth. pref. stock (6% non
-cum.)-for
(2) Common Stock-To be issued in exchange
$11,612,620 corn. stk. of present co. (250%) $29,031,565 $11,612,626
Now to be offered at par to all shareholders of
record Aug. 14 1912 in amounts equal to 43 h%
of present holdings, proceedings to retire all
9,000,000
- - -- - ------ - - - --the 1st M. 5s
- to --- sold
Remainder reserved In the treasury
by the board as and when needed by the company, but first to be offered to all stockholders
387,374
11.968,435
of consolidated company
$50,000,000 $12,000,000
Total common stock
(3) Bonded Debt-lst M. 5s, including $810,000
$7.900,154
None
in treasury - _ - ------- - -- _ --------- _
The earnings of this company- ---- tile year ending Pilch. 31 1912, after
exmineral
and
plants
of
for
deductions
depreciation
making the usual
haustion, were $4,229,110 (V. 94, p. 1563). On that basis the earnings
shown for the past year would be the equivalent of 6% on the $9,000,000 of
new pref. stock and of over 9.7 %on the $38,000,000 of new common stk.
240
THE CHRONICLE
Condensed Extracts from Consolidation Agreement.
"
The international and Colonial companies were organized for the purpose of carrying on kinds of business of the same or a similar character
and the objects and purposes for which the consolidated corporation is
formed shall include and be the objects and purposes for which either or
both of the former corporations were formed. •
The holders of the pref. stock shall be entitled, out of any and all surplus
or net profits whenever declared by the board, to non-cumulative dividends
at the rate of but not exceeding 6% per annum for the fiscal year ending
March 31 1913 and for each and every fiscal year thereafter, payable quarterly or otherwise. All remaining surplus or net profits of each fiscal year
shall be applicable to dividends upon the common stock and payable quarterly or otherwise. In the event of any liquidation or dissolution (whether
voluntary or involuntary), the holders of the pref. stook shall be entitled
to be paid in full at par the amount of their shares, and no more, and the
remaining assets and funds shall be divided and paid to the holders of the
common stock pro rata.
All dividends paid or to be paid on the present pref. stock of International
company out of the profits for any portion of the fiscal year beginning
April 1 1912 shall be deemed to have been paid by consolidated corporation for the purpose of determining the amount of dividends payable during
the remainder of said fiscal year upon the pref. stock of consolidated corporation issued in exchange for suoli pref. stock of International company.
The dividend of 5 Si% on the common stock of International company declared payable on Sept. 3 1912 and the dividend on the pref. stock of 1 A%
payable Aug. 1 1912 may be paid out of the assets of International company
before the consolidation: but no other dividends shall be declared or paid
either by International company or Colonial company prior.to the consummation of such consolidation (V. 94, p. 1700).
The consolidated corporation shall set aside, as a separate fund, out of
the capital assets of Colonial company acquired or to be acquired or received from the said company or the stockholders thereof, upon the consummation of this agreement, the sum of $8,700,000, and shall apply the
same, or so much thereof as may be necessary for the purpose, to the purchase, payment, retirement or redemption of the 30-year 5% sinking fund
gold bonds of International company outstanding under its mortgage dated
April 1 1902. It shall be the duty of the directors to call for redemption
on April 1 1913, and redeem on said date, all said bonds not theretofore
paid, purchased or retired. All bonds now in the treasury or hereafter acquired shall be canceled, and upon redemption of all of said bonds the
mortgage shall be satisfied.
Officers and first board of direotors same as for present Internat. Co.
First annual meeting of the stockholders of consol. corporation June 3 1913.
Unless authorized by votes of at least two-thirds of the capital stock of
consolidated corporation, "at a meeting specially called for that purpose,
or at an annual meeting, the board of directors shall not mortgage or pledge
any of its real property or any shares of the capital stock of any other corporation; but this prohibition shall not be construed to apply to the execution of any purchase-money mortgage or any other purchase-money lien."
-V.94. D. 1700.
Laclede Gas Light CO.-Earnings.13 Mos.end.
Gross
Net (after Deprecia- Interest Pref.
June 30- Earnings.
lion.
Taxes).
Paid.
Div.
1912
$2.203,072 $1,126,907 $132,394 $504,370 $02,500
1911
2,187,434 1,100,995 123,506 491,664 62,500
-V. 94, D. 1253.
Balance,
Surplus.
$427,643
423,325
Long Acre Electric Light & Power Co.-
Judge Ingraham, Chief Justice of the Appellate Division of the Supreme Court, has issued a temporary injunction restraining the company
from taking any steps under the order made by the P. S. Commission, dated
July 28 1911, permitting the company to issue $2,000,000 stock and $4,000,000 bonds. An order to show cause has been granted, returnable
Oct. 11, why the injunction should not be continued pending the hearing
and determination of the appeal from the recent decision of the Appellate
Division, affirming the Commission's order.-V.95, p.114.
Loose-Wiles Biscuit Co.-Engraved Certificates Ready.--
William Salomon & Co. give notice that engraved certificates of all classes
of stock are ready to be exchanged for the temporary certificates at the
U. S. Mortgage & Trust Co., 55 Cedar St., N. Y.-V.94, p. 1768.
Louisville Gas Co.-Sale of City's Holdings.See "Louisville" in "State and City Dept."-V.91, p. 1452.
Miami Copper Co.-Report.Six Months' Earnings.-For the 6 mos. ending June 30
1912 estimated net profits wore $932,674, or equal to about
$1 40 per share on the outstanding stock.
The production for the 6 months ending June 30 1912 was 15,544,572 lbs.,
being better than the preliminary estimates. Recent diamond drill developments at Miami have been very satisfactory and the management
believes that the property will develop more than 18,000,000 tons of ore
during the remainder of the fiscal year.
The second quarterly dividend of 50 cents per share has been declared on
the capital stock, payable Aug. 15 to holders of record Aug. 1 1912.V. 94, p. 1123.
National Fireproofing Co., Pittsburgh.-Bonds Auth.-
The stockholders on July 25 approved the new Issue of $2,500,000 bonds
for acquisitions and improvements. Compare V. 95, p. 53; V. 94, p. 1452,
1060, 766.
[VoL. Lxxxxv.
Capitalization of 1119 New Company (Par of All Shares, $100).
First & rot. M. 5% bonds. Total auth., $4,000,000; to be
presently issued_
$775,000
Reserved to retire $400,000 of 'Williamsport Gas Co. 1st M.5%
bonds [of 1889, due Feb. 1 1939-V. 68, p. 189, 3331, which
are not callable and will, therefore, remain outstanding_ _
400,000
Reserved for 85% of the cash cost of additions, extensions and
improvements, and for 75% of the actual cash cost of new
properties acquired, provided the annual net earnings are
I 11 times the interest on all bonds outstanding, including
those sought to be issued
2,825,000
Preferred stock, 6% cum., quar.; divs. accrue from Aug. 1 1912;
non-voting; call. at 103 and accurn. dive.; now auth. & issued_
250,000
Common stock, now authorized and issued
1,000,000
The bonds will be a first mortgage on the Milton and Watsontown
properties, the high-pressure lines connecting them, the intervening property
between Watsontown and Williamsport and a refunding mortgage on the
Williamsport property.
The franchises in every instance'are construed by our local attorneys as
perpetual and are particularly free from burdensome restrictinos. The
physical properties have been maintained at a high standard and arc in
excellent operating condition. The population to be served (1910 Census)
aggregates about 75,000.
Estimated Earns. of Existing Properties-Years end. Dec. 3 1 1912 and 1913
(After payment of taxes and interest on underlying bonds.]
1912.
1913. I
1912.
1913.
Net earnings_ _ _
_ $73,000 $84,544 Div. on $250,0006%
Int. on $775,000_---preferred stock_ _$15,000 $15,000
& refunding 5s_ _. 38,750 38,750 Bal.,sur.for com.sik. 19,250 30,794
The earnings as given above for 1912 do not include any earnings from
the properties now being constructed, though charges are shown on the
entire outstanding issue of bonds and preferred stock. [The bonds were
offered a 35% bonus in common stock.]
Ohio Copper Mining Co.-Directors and Officers.-
Directors: W. C. Allison, John C. Montgomery, J. F. Pearson Jr.,
Maurice Levy and F. Augustus Heinze.
Officers:. l'res., W. C. Allison; Vice-Pres., John C. Montgomery; Treas.,
Maurice Levy; Sec., Charles %V. Saacke; Asst. Sec. and Asst. Treas., Fred.
Eckstein.-V. 95, p. 115, 53.
Oregon Land & Water Co.-Sale of Properties.-
The properties will be sold at Irrigon, Morrow Co., Oregon, on Sept. 2,
by order of the U. S. District Court dated June 17 in the suit brought by
It. S. Howard, receiver of the Title Guarantee & Trust Co. to recover advances aggregating $560,302 with interest, for the benefit of the bondholders under the mortgage of Melt. 1 1006, and other claimants.
Paxtang Electric Co., Harrisburg, Pa.-Consolidation.
See Harrisburg Light & Power Co. above.-V.84, p. 2224.
Philadelphia Electric Co.-Power Contract.-
See Phila. Rapid Transit Co. under "Reports."-V.94, p. 1387, 1190.
Plainfield-Union (N. J.) Water Co.-Bonds Offered-First
Lien After Aug. 1.-J. S. Rippel, Newark, N. J. is offering
$250,000 1st M. refunding 5% gold bonds dated 1911, due
May 1 1931, but redeemable after May 1 1916 at 105 and
int. (M. & N.). Par $1,000 (c*). Tax-exempt in N. J.
Mr. Rippel will receive Union Water Co. 5s, due Aug. 11912,
at par in exchange for the new bonds at 102176 and int.,
involving a total cash payment on a $1,000 bond of $37 50.
Data from Letter of Pres. Frank Bergen, Newark, N..1.. April 12 1911.
A consolidation Oct. 31 1906 of the Plainfield
Water Supply Co. and the
Union Water Co. Supplies water for domestic and public use to the cities
of Plainfield and Rahway all the towns in Union County, township of Warren, borough of North Plainfield, Somerset Co., and township of Piscataway,
Middlesex Co. Source of supply, wells at Netherwood, but has the right
to obtain water from any source in Union, Morris, Somerset and Middlesex
counties. Has a little over 8,000 consumers; about 700 are added each year.
Owns 119 miles of mains (diameter 4 to 20 in., chiefly 6 to 16 in.), and has
spent large sums for improvements out of 'earnings. Gross earnings for
1910, $190,000. [Net earnings, It is said, are more than five times interest
requirements on bonds.]
Debt consists of $385,000 bonds [including this issue; $135,000 mature
Aug. 1 1912 and will then be paid. Thereafter these bonds will be a first
lien on all the properties and franchises.1 Capital stock $1,144,000; dividends ranging from 5 to 10% have been paid regularly since 1895.-V. 93,
p. 1729, 1389.
Riverside (Cal.) Water Co.-Sale of Domestic Water System.
See "Riverside, Cal.," in "State and City" department.-V.94, p. 1702.
San Joaquin Light & Power Corporation.-Description of
System.-Louis Sloss & Co., San Francisco, who last spring
offered the pref. shares, are sending to their friends and costotners a little book of 100 pages, fully describing the company's plants, propertie3, &c.
As is well known, the company Is one of the most important of California's
National Packing Co.-Dissolution.-It was announced
public service corporations, operating in the territory embracing nearly all
this week that the physical division of the company's proper- of
the great San Joaquin Valley of Central California. The article,
is
ties between Swift & Co., Armour & Co. and Morris & Co. profusely illustrate.1, is a reprint from the "Journal of Electricity,which
Power
& Gas" of San Francisco, for 23 years past considered an authority
on
has been arranged.
power conditions on the Pacific Coast, Compare V. 93, p.
Press dispatches say that Attorney-General Wickersham is expected to
give his approval to the plan within a few days.-V. 94, P. 1700.
New River Co.-Appealfrom Receivership Order.The West Virginia Supreme Court on July 20 denied the petition for a
writ of prohibition against the receiver appointed on July 10 by the Fayetto
County Circuit Court. The Supremo Court at the same time, however,
granted an appeal and supersedeas to the company,and the receivers and the
lower courts are prevented from taking possession pending the final adjudication of the case. Compare V. 95, p. 115.
Niagara Falls Power Co.-Combined Income Account.-
Gross
3 Mos. end.
June 30. Earnings.
$609,078
1912
546,951
1911
Six Mos.$1,220,863
1912
1911
1,098,253
-V. 94, p. 1569.
Net
Earnings.
$496,079
419,675
Other
Income.
$42,647
48,878
Fixed
Charges, &c.
$307,582
317,263
Balance,
Surplus.
$231,144
151.290
$975,076
856,006
$54,16260,984
$612,752
634,718
$416,486
282,272
Northern Central Gas Co. (Williamsport, Pa., &c.), N.
Y. City.-Bonds.-H. D. Walbridge & Co., New York, on
July 8 offered, and have since sold, the entire present issue
of $775,000 'first and refunding mtge. 5% bonds" dated
Aug. 1 1912 and due Aug. 1 1962, but redeemable on any
int. date at 105 and int. Par $500 and $1,000 (c*). Int.
F. & A. in N. Y. City. Trustee, Bankers Trust Co., N:Y.
Tax-free in Pennsylvania. Plan of organization:
The owners of (1) over 97% of the capital stock of the Williamsport Light
Co.. which controls and operates the Williamsport (Pa.) Gas Co. (v. es,
p.
921, 1123, 1388.
412; V. 94, p.
Standard Milling Co.-Tenders of Pref. Stock.-The required $69,000 cash, or 1% of the issue, having been set
aside for retirement of pref. shares, tenders thereof will be
received up to 3 p. m. July 31, any amounts accepted to be
delivered by 3 p. m. Aug. 2.-V. 95, p. 180.
Telluride Power Co.-Change in Control.-J. R. Nutt, of
Cleveland, on behalf of himself and N. Y. and Boston associates, has purchased a controlling interest in this company
from Cleveland interests.
A circular letter dated at Cleveland July 16 says in brief: We have sold
to Mr. J. It. Nutt our entire holdings of stook and bonds, receiving for the
stock 25e. per share and for the bonds par and int. Our stock has been
paid for and our bonds are to be paid for on or before Oct. 1 next with'
accrued interest to date of payment. Mr. Nutt has also agreed to buy
at the same price any of the remaining stock and bonds that may be forwarded to The Citizens' Savings & Trust Co., Cleveland, on or before
Sept. 1, paying for the stock by Sept. 1 and for the bonds on or before
Oct. 1 1912. (Signed 0. M. Stafford, Ralph T. King, Geo. N. Chandler,
A. T. Perry, D. Leuty, Andrew Squire and Parmeiy Herrick.)
(The company on Dec. 31 1911 had outstanding In the hands of investors
$4,498,125 capital stook and $4,312,000 bonds. There have also been
certified, It is understood, $1,180,000 bonds, which arc being used as collateral to the floating debtl-V. 93,_p, 734,
Texas Power & Light Co., Waco., &c.-Initial Dividend.
3i% has been declared on the $3,000,000
The first quarterly dividend of 1 /
7% cumulative pref. stock, payable Aug. 1 to holders of record July 25.
333, 189); and (2) all of the capital stock both of the Milton (Pa.) Gas
Acquisitions.-Interests identified with the company have
Co. and the Hagerstown Light & Heat Co. of Washington Co., Md., have
agreed that the Northern Central Gas Co., incorporated in Pennsylvania acquired the electric light and power properties of the Paris
[in July 1912] shall take over the physical properties of the Williamsport Light & Power Co., the electric light and power
and gas
and Milton companies and the capital stock of the Hagerstown Lt. & Ht.
Co.; It not being permissible for a Penn. corporation to acquire the latter properties of the Brownwood Gas & Electric Co., and the
except through the control of its capital stock. A charter and franchise electric light and power properties of the Gainesville
Electric
for the distribution of gas in Watsontown, Pa., has been secured, and a
high-pressure line from Aillton to Watsontown is now under construction; Co. It is expected that these properties will be taken over
other charters and franchises are being secured in the territory
between and operated by the Texas Power & Light Co.
Watsontown and Williamsport, all of which will be acquired by the Northern
The company, which was organized by the Electric Bond & Share Co.,
Central Gas Co., free of debt. The cost of securities and properties
operates electric light and power and gas properties in Waco and
enumerated end the cost of new construction now under way for above already
Cleburne and electric light and power properties in 1111 sboro, Waxahachie,
which
funds are provided under this plan, will approximate $1,025,000.
Temple, Shernuus and Bonham. These cities are located In the "black
JULY 27 19 P.!]
land belt" of Texas, one of the richest agricultural sections In the country,
and a district that le increasing rapidly in wealth and population.—V. 94,
p. 1511.
United Box Board Co.—Plan Amended—Extension.--The
reorganization committee has issued a letter to the stock and
general mortgage bond holders dated July 20 stating that the
reorganization plan (V. 94, p. 624, 626, 636) has been
amended so as to permit stockholders who do not desire to
pay the assessment to deposit four shares of said stock with
the Union Trust Co. Chicago, in exchange for a depositary's
certificate convertible into one share of common stock of the
new company or any multiple thereof. The time for paying the subscription on the stock has been extended to Sept. 8
1912 on condition that interest on deferred installments be
paid at 6% from July 10 to date of deposit. '
The committee says that the extension (which is limited absolutely to the
period mentioned) and the "amendment of the plan demonstrates that it
desires to give an opportunity to every stockholder to participate in the
Plan. The committee has entered into an agreement with an underwriting syndicate to underwrite the stock not subscribed for by the stockholders within the 60 days from July 10 upon the same condition as those
mentioned In the plan In such amounts as the committee shall deem necessary to be underwritten in order to make the plan operative, thus guaranteeing the success of the plan beyond the shadow of a doubt. Already the
holders of 51 000 shares of the capital stook have become depositors and
paid the required installments of subscription, and all of the holders df the
general Mtg. bonds of United Box Board & Paper Co., except approximately $200,000, have signified their approval of the plan by making deposits with the Union Trust Co.
"The committee feels that before the expiration of 60 days nearly all the
stockholders will have availed themselves of the benefits of the plan by
becoming depositors under one or the other of the methods suggested, and
the necessary amount of stock will be underwritten so that the reorganization will have been completed and the new company will undoubtedly be
In full operation not later than Jan. 1 1913."—V. 94, p. 1388.
United Cigar Stores Co, of America.—S35,000,000 Successor for Corporation of United Cigar Stores.—This company
was incorporated in New Jersey on July 25 with $35,000,000
of authorized capital stock in $100 shares [7% cumulative
pref. stock, $5,000,000; common stock, $30,000,000] for the
purpose of taking over the business, property and assets of
the Corporaton of United Cigar Stores. Holders of record
of the stock of the Corporation of United Cigar Stores [810,000,000 authorized, $9,054,000 now outstanding] will on
or before Aug. 26 receive in exchange for their holdings $300
common stock for $100 of their present stock and will be
allowed on or before Sept. 14 to subscribe at par for
$4,527,000 new preferred (underwritten) in amounts equal
to 50% of their present holdings, respectively.
Summary of Official Circular Dated July 25 1912.
This company proposes to acquire the outstanding stock and also
the existing $3,600,000 50-year 6% gold bonds of the Corporation of United
Cigar Stores [of N. Y.I. The holders of the bonds have agreed to sell the
same to this company at par and intdfroin June 30 1912. The moneys
received from the sale of pref. stock will be used to acquire these bonds and
for the further development of the business. A committee has agreed to
underwrite the present issue of $4,527,000 pref. stock at par ($100 per sh.) In
of record
cash without profit or commission, subject to the right of holders at
par.
of the stock of Corp. of United Cigar Stores to subscribe therefor
On or
The company will make a proposition substantially as follows:
of
before Aug. 26 1912 to purchase from the stockholders of the Corporation
standing
and
by
owned
company
United Cigar Stores all of the stock of that
of record In the name of each, and to pay therefor by delivering three shares
of the common stook of this company, fully paid and non-assessable, for
each share of the stock of Corporation of United Cigar Stores.
Upon the surrender of said certificates of stook of the Corporation of
United Cigar Stores, the holder of record shall receive a purchase warrant,
according to the terms of which such holders, upon the surrender of said
warrant on or before 12 noon Sept. 14 1912, and upon payment of an
amount equal to the par, shall be entitled to receive certificates for an
amount of the pref. stock of this company equal to 50% of the stock of the
Corporation of United Cigar Stores so surrendered. The Bankers Trust Co.
will act as depository and will buy or sell fractions of pref. stock at the then
ruling odd-lot price.
The holders of record of the largest amounts of the outstanding capital
stock of Corporation of United Cigar Stores have already signified their intention to accept this plan. Among the assets of the last-named company
are the entire share capital and funded debt oi the old United Cigar Store
Co., viz.: 5900,000 common stock; $750,000 pref. stook and $2,850,000 6%
debentures. See V. 94, p. 1451, 1386, 1122; V. 93, p. 1103, 1122; V.
88, p. 1132.]
The new pref. stock will be entitled to receive cumulative dividends of
7% Per annum from Sept. 15 1912. There are no restrictions on its voting
right.
In case of voluntary liquidation or dissolution, the holders of the
pref. stock are to be paid $140 a share[on involuntary liquidation $1001 and
any accumulated dividends before any distribution to the common stock.
Pref. stock can be issued at par for cash. The directors are authorized to
establish a special surplus fund out of net profits, to be used after Jan. 1
1916 by the board in its discretion to purchase and redeem pref, stock at
prices not exceeding $140 per share.
Of the authorized capitalization It is proposed at this time to issue only
$4,527,000 pref. stock and $27,162,000 common stock.
Consolidated Statement of United Cigar Stores Co. of America and Its Subsidiaries (After the Plan Shall Have Been Carried Out,
Based on Condition June 1 1912).
Assets ($37,796,238).
Liabilities ($37,796,238).
Cash on hand & in bks_ _52,251,249 Pref. stock, 7% cum_ __ _$4,527,000
27,162,000
Cash from sale of pref. stk.
Common stock
(underwritten)
4,527,000 6% bonds (Corp. of United
Real est., bldgm., intges.,
Cigar Stores), to be acleaseholds, trade-marks,
(mired out of proceeds
trade names, good-will,
from sale of pref. stocic_ 3,600,000
910,705
• brands, &c., less unma,
Surplus
Lured mtges. of 585,586_25,525,915 Reserves: Provisional sur1,5013,534
Other current net assets__ 5,492 074
plus
In arriving at the valuation of the assets resulting in the foregoing consolidated statement, the item "good-will, trade-marks, trade names and
brands, &c.," included in the general Item "real estate, buildings, mortgages, leaseholds, trade-marks, trade names, good-will, brands, &o.," has
been appraised at the sum of 521,400,000, and in appraising the value of
the "good-will," the earnings upon investments in real estate and the income and profits received from leases and leaseholds have not been taken
into consideration.
[A press dispatch reported late yesterday the acquisition of the Independent Cigar Stores Co. of New Orleans, with some 17 stores in Southern cities, but this purchase, we are informed, will not affect the amo nt of
outstanding capital stock as shown In the balance sheet above.—Ed.)
Directors.—George J. Whelan, C. A. Whelan, H.S. Collins,
John F. Whelan, C. R. Sherlock, Elliott Averett, .Edward
Wise, Louis Biel and W.T. Posey.
Williamsport(Pa.)Gas0o.—Merger—$400,000 1st M.5s.—
Sec Northern Central 0 is Co. above,—V. 68, p. 333, 189.
(J. S.) Young Co., Baltimore.—First Div. on Common Stk.
The company, which acquired the Baltimore plant of the McAndrews &
Forbes Co., manufacturers of licorice paste (being a portion of that company's assets), per plan'of dissolution of the American Tobacco Co.(V. 93,
p. 1123), on July 23 paid an Initial dividend of 5% on tile $1,000,000 common stock for tile two quarters eliding June 30. The regular quarterly
dividend of 1 V% was also declared at the same time on the $1,000,000
7% non-votinglstock, payatle on demand.
241
THE CHRONICLE
—The address, "Does Bank Advertising Pay"? is devoted
to concrete examples of advertising within the speaker's
personal knowledge which have been profitable and helpful
to the institutions concerned. Referring to results in New
York, Mr. Ellsworth concludes: "If you will permit a still
further reference to the institution which I have the honor
to represent, I will be glad to tell you what has been our
general experience with advertising. In the latter part of
1910 the Guaranty Trust Co. of New York established a new
advertising policy. Prior to that time, while the institution
had carried regular cards in the New York dailies and in
certain other periodicals, still its advertising was not on a,
systematic basis and was quite limited in extent. A decided
change was made, however, and since 1910 a progressive
policy has prevailed and the advertising has been more
comprehensive and has been handled systematically by a
regularly organized department of the company. When this
policy was first inaugurated the deposits of the Guaranty
Trust Co. were approximately $124,000,000. To-day they
exceed $178,000,000, or a growth of $54,000,000 in eighteen
months. Manifestly it would be foolish to maintain that
this increase is due entirely to advertising; but our people
feel confident that a goodly percentage of it has come to us
as a direct result of our liberal advertising policy."
Copies of both these addresses can be obtained, on request,
we believe, from the Guaranty Trust Co., 28 Nassau St.,N.Y.
—The booklets, "Bank Advertising, Good and Bad,"
and "Does Bank Advertising Pay?" which have just been
printed for distribution by the Guaranty Trust Co. of New
York, should be of interest and value to the banking and
financial community. Both are reprints of short addresses
delivered by Fred W. Ellsworth, Publicity Manager of the
trust company, at the recent annual conventions of the Oregon and Washington bankers' associations, and represent
the views of an experienced and clear-headed expert on
these matters. In "Bank Advertising, Good and Bad,"
the speaker analyzes the essentials of good advertising and
separately discusses: Programs, the six tests, testimony,
newspapers, stuffing the space, intermittent advertising,
undignified advertising, don't brag, booklets, good advertising style, the financial press, almanacs and form letters.
—For free distribution, C. E. Denison & Co., the investment bond dealers of Boston and Cleveland, have reprinted
in convenient booklet form an editorial article from the April6
1912 issue of the "Financial Chronicle," viz.: "The Stability.
of Electric Railway Earnings." This article is an exhaustive resume and analysis of the growth and progress of the
gross and net earnings of the electric railways of the United
States. The "Chronicle's" compilation of these earnings is
also reprinted in the booklet. Investors, banking institutions and other parties interested can obtain complimentary
copies of the booklet by addressing C. E. Denison & Co.,
4 Post Office, Boston, Mass., or Guardian Building, Cleveland, Ohio.
—The bond department of Brown Brothers & Co., 59 Wall
St., this city, has prepared a circular of standard railway and
industrial stocks with full particulars of capitalization and
earnings selected from the standpoint of income and future
possibilities. The list includes railroad stocks now paying
dividends from 4% to 10% and at present market prices
yielding about 3.64% to 6.04% on the investment. The
industrial stocks pay 3 to 8% dividends and return 3.63
to 6.60% income. This circular will be furnished to private
and public investors on application to George Herbert
Burritt, manager of the firm's bond department, 59 Wall
St., New York.
—The investment firm of J. H. Fisher & Sons of Baltimore, organized in 1873, will be dissolved on Aug. 31. The
partnership as composed at present includes J. Hannanus
Fisher, John D. Howard and Edward McC. Fisher. The
old name of J. H. Fisher & Sons will be perpetuated by
J. Hannanus Fisher and Edward McC. Fisher continuing in
partnership, and the new firm of John D. Howard & Co.
will be started by J. D. Howard and Oscar W. Lemoine,
confidential man of the old concern.
—The Remington Typewriter Co. (Incorporated), head
sales offices 327 Broadway, New York, has lately perfected
a visible adding and subtracting and visible-writing typewriter. The "Wahl" adding mechanism is used on the
Remington adding and substracting typewriter. This recent product of the Remington Company is a wonderful
time and labor-saving device and should eliminate many of
the heavy costs of clerical work in all departments of business offices.
—Out of the ordinary and attractive in appearance is the
mid-year investment bulletin issued by Messrs. D. Arthur
Bowman & Co., investment bankers, Third National Bank
Building, St. Louis, Mo. The offerings contained therein
are varied, being made up of the bonds of public service,
steam railroad, municipal and miscellaneous corporations,
yielding from 3.80% to 6%%.
—Messrs. Hotchkin & Co., 53 State St., Boston, have set
forth in a pamphlet, printed in clear and neat style, the
attractiveness of the Adirondack Electric Power Corporation's common stock as a speculative investment.
—Attention is called to the offering by Clark, Dodge &
Co. of several railroad bond issues, yielding in the neighborhood.of 4%. See particulars in advertisement.
sew
242
THE CHRONICLE
Tommertial
[VoL. Lxxxxv.
COTTON.
COMMERCIAL EPITOME.
Friday Night, July 26 1912.
A normal volume of business is in progress, and there is
an impression that any change in the state of trade is likely
to be in the nature of improvement. The promise continues
excellent for abundant grain harvests and the outlook for
cotton in some sections has improved, owing to the cessation of excessive rains. Labor is well employed and railroad earnings are larger than at this time in 1911.
LARD on the spot advanced moderately, reflecting the
situation in primary markets. The demand continues
seasonably quiet with small lots the rule. The expectation
of lower prices keeps the trade indifferent. Prime Western
is quoted at 10.70c.; Middle Western at 10.45c.; City, steam,
at 103.c. Refined lard is still comparatively inactive, but
rather firmer. Continent is held at 10.90c.; South America
11.700.; Brazil in kegs 12.70c. Speculation in lard futures
has not been specially active, but more support from packers
was noted. Shorts covered on the rally in grain and provisions. Smaller arrivals of hogs in Chicago were a factor.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Man.
Sat.
Tues.
Wed. Thurs.
Fri.
cts_10.55
10.47 M 10.50
July delivery
10.52 K, 10.55
10.65
September delivery_ _ _ _10.6714 1O.573 10.60
10.65
10.67% 10.75
•
Friday Night, July 26 1912.
THE MOVEMENT OF THE CROP, as indicated by our
telegrams from the South to-night, is given below. For the
week ending this evening the tOtal receipts have reached
12,478 bales, against 11,670 bales last week and 13,080
bales the previous week, making the total receipts since
Sept. 1 1911 11,463,481 bales, against 8,395,695 bales for
the same period of 1910-11, showing an increase since Sept. 1
1911 of. 3,067,786 bales.
Receipts at-
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
Total.
Galveston
194
677
609
262
766 2,613
105
Texas City
Pt. Arthur, &c
New Orleans
510 2,122
674
601
1,160
291
5,358
Gulfport
Mobile
10
-3
-4
- -16
- -52
--_ -_ -_ -_
-4
- .
-5i5
Pensacola
Jacksonville, &c.
Savannah
iSi
96
264
127
459
365 1,448
Brunswick
Charleston
i
Georgetown
Wilmington ---------------------------1
Norfolk
455
2'73
30'7
113
238
210 1,596
N'port Nevis, &c.
____
____
____
____
____
____
New York
102
__
364
Boston
____
49
3
5i _
8
Baltimore
____
____
BO
5io
____
____
Philadelphia_ _ _ _
____
____
--Totals this wk. 1.307 5 251
1.815
1 RIM
1 RAO
27(18 12,178
_iiii,
• PORK has been quiet but firm. Mess $20 25@$20 75;
clear $19 25@$21; family $20 25@$21 25. Beef has been
steady with a light demand; mess $15 50@$16; packet
The following shows the week's total receipts, the total
$17@$17 50; family $18@$18 50; extra India mess $29@
$29 50. Cut meats have been firm but inactive; pickled since Sept. 1 1911, and the stocks to-night, compared with
hams, 10@20 lbs., 11%©123.c.; pickled bellies, 6©12 lbs., last year:
11®11c. Butter, creamery extras, 27@274c. Cheese,
1911-12.
1910-11.
State, whole milk, new white, specials 153-@,1534c. Eggs,
Stock.
Receipts to
Western firsts, 18IA@19%c.
July 26.
This Since Sep This Since Sep
Week. 11911. Week. 1 1010.
OILS.-Linseed has been quiet and steady; City, raw,
1912.
1911.
American seed, 73@74c.; boiled, 74@75c.; Calcutta, 80e. Galveston
2,613 3,506,895 2,885 2,741,630
27,460
8,210
Cottonseed oil has been quiet and easier; winter 6.50c.; Texas City
586,468
308,229
Arthur, 6:c_
____ 280,095
398 259,229
summer white 6.50c. Cocoanut oil has been quiet and firm; Port
New Orleans ____
5,358 1,650,884
3,410 1,557,326
35,153
26,872
Cochin 93/2@9%c. Cpylon 8%@8%c. China wood has Gulfport
66,845
34,211
Mobile
513 381,419
1,035
20 249,770
602
been in moderate demand at 9@l0c. Corn quiet and easier Pensacola215
,979
123,906
at 5.8005.90c. Cod quiet and firm; domestic 46@48c.
Jacksonville, &c_
50,419
____
25,864
1,448 2,375,191
299 1,425,939
24,422
13,677
COFFEE continued heavy, but with less disposition on Savannah
____ 404,363
____ 222,736
352
651
the part.of the spot trade to make concessions. Emphasis Brunswick
Charleston
3,928
3 285,088
4,842
3,501
1,169
_
was still laid on the lack of assortments to Brazil grades. Georgetown ---------1,454
Wilmington
1 547,859
115 410,780
156
90
Then, too, the local market is below the parity of Santos, Norfolk
1,596 '748,178
361 559,106
20,405
2,401
which causes holders to look for improvement. But the N"port News, &c..
38,486
____ •
3,924
New York
466
____
6,773
14,483 132,128
89,097
country is buying hand to mouth. Prices are too high to Boston
112
62,767
22
38,527
5,093
7,010
warrant stocking up. Rio No. 7 is repeated at 14%c. Baltimore
'
122,775
327 112,978
2,743
1,119
2,988
150
___
515
2,785
1,352
Santos No. 4 is easier at 159c. to 15%c. West Indian Philadelphia --------coffees are lower in sympathy with Brazils. Fair to good
Total
12.478 11463481 7,990 8,395,695 256,508 154.738
Cucuta is quoted at 15% to 163'c. Options declined, then
that
order
comparison may be made with other years,
In
recovered,in part on covering of short committments. Lighter
primary receipts were attributed to the strike in Santos. we give below the totals at leading ports for six seasons:
Brazil markets were fairly steady, and firm offers from that
1911.
1910.
1909.
1908.
1907.
source showed little reaction. Closing prices are as follows. Receipts at- 1912.
13.10 ®13.121November 13.34(03.35 March _.135@4
July
August __ _13.12 ® 13.131December 13.40 ® 13.41 I April
September 13.22 ®13.231January _ _13.43 ®13.44 May
October__ _13.29 ® 13.31 February _13.41@13.43 June
13.55@i3.58
13.57 ® 13.58
13.57@ 13.58
SUGAR.-Raws advanced further, ill sympathy with the
European cables. Manipulation was still active abroad
in beet options. Cuban receipts of the crop were lighter,
though still comparing well with a year ago. Stocks of sugar
on the island are decreasing. Refiners bought to replenish
supplies. Centrifugals were quoted 96-degrees test 4.05c.,
muscovado, 89-degrees test, 3.55c.; molasses, 89-degrees
test, 3.30c. Refined was quieter, owing to the cooler
weather. Fine granulated is held at 5.05c. to 5.10c.
PETROLEUM.-Refined petroleum has been quiet and
easier. The movement abroad is said to be up to the normal.
The domestic movement has shown some improvement.
Barrels 8.45c., bulk 4.85c. and cases 10.35c. Naphtha has
been active and firm;73076 degrees in 100-gallon drums 21c.;
drums $8 50 extra. Spirits of turpentine quiet and easier at
463.c. Common to good strained rosin steady at $6 30.
TOBACCO on the spot is quiet. There is merely a moderate demand for pressing needs of manufacturers. Little
interest is manifested in filler. Binder is firm on small available stocks. The reports from the New England crop are
favorable. Less complaint is heard of lack of moisture. In
Wisconsin the conditions are generally favorable. Some
routine sales of Sumatra are noted in the trade. Manufacturers who held off in the hopes of lower sales abroad
have been showing interest. Cuban tobacco continues
quiet and steady. More attention is paid to samples of new
crop, but the actual business so far is not large.
to- COPPER continues to show strength, with a steady consuming inquiry from the manufacturers. Lake is quoted
higher at 175
/
sc.; electrolytic at 173'c. Stocks are still
being depleted and large interests make little concession.
Manipulation abroad seems to have subsided. Activity of
electrical companies is an influence in the situation. Tin is
firmer but quiet, with the spot quotation 44.10c. Lead
shows a slightly easier tendency at the basis of 4.67 A
1 c.
Spelter is inactive at a decline to 7.223c. Pig iron is firm
and active, with No. 1 Northern quoted at $15 75@$16 25.
No. 2 Southern being held at $15 75@$16 25. Mills are
obtaining premiums for early delivery of finished products.
Galveston__
Texas City:he
New Orleans_
Mobile
Savannah
Brunswick
Charleston.&c
Wilmington
Norfolk
N'port N., &c
Allothers_ _ _ _
2,613
Total this wk_
SIIUt Sept.
2,885
398
3,410
20
299
2,543
6,167
15,143
3,670
5,358
513
1,448
4,583
819
2,590
4,565
653
2,072
6,629
516
2,233
2,910
29
713
1
1
1,596
3
115
361
744
1
6,271
32
17
439
708
33
426
442
8,931
948
499
3,179
251
285
158
748
388
659
12,478
7,990
20,730
14,197
26,759
11460I.II1
1
0 .10t ACM '7 9AA 1 Al 0 7
,I
,
a
on
VW
,,
,AGU
s
OE A
• en
The exports for the week ending this evening reach a total
of 14,431 bales, of which 8,533 were to Great Britain,
351 to France and 5,547 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1.911:
Week ending July 28 1912.
Exported toExports
from-
Front Sept. 1 1911 t9 July 26 1912
Exported to-
Great
ContiGreat Total. Britain. France.
Britain. France. itent
Galveston _ _
Texas City_
Pt.Arth.,&c
NewOrleaas
-i65
Mobile
__
Pensacola_ _
Gulfport _ _
Savannah._
Brunswick _
Charleston _
Wilmington
Norfolk
New York__ 5-,621
Bostca _2,209
Baltimore_ _
Ph ladelphl t
Portland,Me
San Fran __I
Seattle
Tacoma
Detroit _.
244
2,011
-100
2,026
7
500
Continent.
7'otal
_ _ 1,373,770 280,821 1,347,842 3,002,433
411,504 92,658 81,752 585,914
21,546 66,140 117,178 204,864
3-,86 821,319 174,996 585,177 1,584,492
70
3 65,654 119,319 292,243
10
67
1:6
26
64,337 90,329 216,329
37,373 27,429 64,802
472,207 169,672 1,138,553 1,780,432
197,664
175,160 372,824
51,365
199,209 250,574
162,097 115,441 224,888 502,426
14,756
6,187
20,943
7,750, 245,959 88,199 311,78 645,938
2,209' 172,605
184,595
11,99
387
18,912
6,227 102,391 127,538
500 64,429
21,733 89,162
6,829
6,829
211,778 211,778
150,520
150,52
59,843
59,843
4,868
4,868
5,517 14.431,4,211,763 1,161,518 4,986,066 10359 347
Total _.__
8,533
351
Tot.1910-11
2.086
518 12,056 14,6603,298,980 903,203.2i0,196 7,426,466
In addition to above exports our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
NewkiYork._;;; • •
JULY 27 1912.]
THE CHRONICLE
On Shipboard, Not Cleared forGerOther CoastGreat
.
July 28 at- Britain. France many. Foreign wise.
New Orleans__
Galveston ____
Savannah ____
Charleston_ _
Mobile
Norfolk
New York..
Other ports__ _
3,312
3,198
2,819
3,551
----
----
----
-_-_-_-_
-550
___-
150
400
____
____
3,108
2-,665
600
Total.
Leaving
Stock.
25
25
17,000 17,000
____
2,600
750
25,678
19,840
24,422
4,842
1,010
3,405
129,528
10,313
6,770 18,042 37,470
987 2,079 14,633
1 127A
2 009 12 (OM
219,038
140,105
920 2R0
146
871
9,475
7,620
243
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
;
,
-4
.
°gIcigicitigg.10 ,5-glYglagIrrnib-g$,..Ygi
012 g2 g2
P IP
i2 g2 g2 ..
PIP
t21g2
.. ..
.. .. ..
I I Zt,1 11.....
t.... ..
0N NO NN Z I NN NN NN NW
66
;r,;t. ;c,6 66 66 6
6666 ;..4. ;..;..
-I.
CO.'
..
.. 0
17 I @ I@ 14 ..
I@ ..
T4.
le ..
I@ ..
T4 ..
I@ ..
1
CO-'
Total 1912_ _
Total 1911
Total 1910_ _
• •
____
6,860
192 10,542
loan
A 11:12
5,798
833
A 990
Speculation in cotton for future delivery has been more
active and prices have advanced. Unfavorable weather
reports from the Southwest have had much to do with stimuating and strengthening the market. In Texas and Oklahoma droughty conditions have prevailed much of the time.
Very little moisture has fallen in either State, while temperaltures of 100 to 105 degrees have latterly been reported at
many stations. Reports that the crop is suffering from the
continued lack of moisture and excessive heat are becoming
more numerous. Moreover, army-worms are declared to
be unusually numerous and to be causing more or less
damage in such important States as Alabama, Mississippi
and Georgia, as well as in Texas and Arkansas, not to
mention some other sections of the- belt. In Alabama
this pest is declared to be working havoc with
the plant. According to a dispatch received from Washington on Thursday the House Committee on Agricluture has
reported a bill for an emergency appropriation of $5,000 to
fight the army-worm. Also reports are increasing of damage
from weevil, boll-worms and caterpillars. Such reports have
been received from various sections. The idea of not a few
is that the complaints are in many cases exaggerated, but
they have had the effect of stimulating operations on the
long side, especially among the outside public. High temperatures over the Eastern belt following the recent excessive
rains have given rise to fears of excessive shedding. There
is a general impression that the Government report which is
to be issued on Aug. 2 is likely to be bullish. The data for
this report was gathered on Thursday, the 25th inst. The
spot markets at the South have been firm or higher. The
Liverpool spot sales have been liberal, amounting most of the
time to 10,000 bales daily. The movement of new cotton in
the Southwest is much smaller than at this time last year.
Spot interests,Wall Street, Memphis and New Orleans, as well
as local operators, have purchased freely at times. There
have been occasional recessions, however. The weather
over the •eastern belt has on the whole been clear and to
that extent at least very favorable. The condition of the
crop east of the Mississippi is believed to have been materially improved. Some excellent crop reports have been
received from the Southwest, especially from Texas, and
there have also been cheerful accounts from various sections
of the eastern belt. Manchester has been quiet of late.
Liverpool advices latterly received have stated that the
indications point to a lockout of card-room workers in Lancashire within three weeks. Of late leading spot interests
are reported to have sold freely and there has been rather
active selling, attributed to Memphis operators, while local
Wall Street and Western firms have taken profits. Prominent floor traders have sold rather freely in some cases for
short account. To-day, however, prices agains advanced
moderately, owing to continued hot, dry weather in the
Southwest, where temperatures were reported of 100 to
107 degreess in many sections, commission-house buying
and covering of shorts. At one time a reaction occurred
on heavy liquidation, but it was only temporary. Spot
cotton has been quiet. Middling upland closed at 13c.,
showing an advance for the week of 20 points.
The rates on and off middling, as established Nov. 15 1911
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Fair
c 1.75 on
Strict mid. fair__ _ A.50 on
Middling fair
1 30 on
Strict good mid_ _ _0.80 on
Good middling_ _ _0.56 on
Strict iniddlin,g_ _ _ _0.30 on
Middling
c
Basis
Strict low mid
0.35 oft
Low middling
0.80 oft
Strict good crd
_1.40 off
Good ordinary_2.15 off
Strict g'd mid. tgd _0.4:3 on
Good mid tinged_c_ Even
Strict mid. tinged_ _0 15 off
Middling tinged...A.30 off
Strict low mid.ting.0.80 off
Low mid. tinged_ __1.90 off
Middling stained__ _0.90 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
J011/ 20 to July 26Middling uplands
Sat.
12.80
Mon. Tues.
12.80 12.80
Wed. Thurs. Fri.
13.00 13.00 13.00
NEW YORK QUOTATIONS FOR 32 YEARS.
1912c
1911
1910
1909
1908
1907
1906
1905
13.00
13.60
15.50
12.45
10.80
13.00
10.90
11.15
1904_0
1903
1902
1901
1900
1899
1898
1897
10.70
13.50
9.06
8.12
10.06
6.12
6.06
7.94
1896_0
1895
1894
1893
1892
1891
1890
1889
7.19
7.00
7.00
8.00
7.25
8.00
12.25
11.31
1888_0
1887
1886
1885
1884
1883
1882
1881
10.69
10.38
9.50
10.31
11.00
10.00
12.75
11.69
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Saturday__ - Quiet
Monday__ __ Quiet
Tuesday ___ Quiet
Wednesday- Quiet, 20 pts. adv
Thursday _ _ Lady
Very Steady
Friday
• Total_ -
Futures
Market
Closed.
Steady
Barely steady.._
Steady
Firm
Steady
Steady
SALES.
Spot. Contr'ct Total.
I(0
r,,11. NN NN 0 NN NN NW NN
'
. S :',1g :4-.3: -'1,5
IS II tt_
:t1 tt V: tl_
_ II
__
..
I NN I
1 NN = I'l
II
rIZ 't;4
NN NN
N
:la it
I@ T
(
0
NN
;ti
.
71
II .
1
WW W
Com
,-a
Ire)
11
I rs."4 1.1
le
".
NN
66 66 o
m0 ..,-4 CO
2t.'
.;-, ;..CD ;-.6
le ".
le ".
le ..
Le ".
1°4 ".
le ..
T4 ".
TZ
to
.P.44 WI
ow N
..
.
ON N
4,4
ON NN to to
W. NW WN
O. W.4 .4t0
.. .. .1
NW N1
e., E. 1.4 Co
to to NN
NN NN ..
64 o. .. ;...
N.4 O. N. N.
.. .. .. ..
ND., NN ON NN
NN ON IN,
WI
,:1=.
O. .. wi
NM NN
WN ON NO WN
it:it N.
011 La6 66
.
..
66
6i., i.- 6;.,
...,
e .. ... Co ;.i.
1@ ZZ le le I
c"'
le
TZ ..
TZ
le
TZ
I@ ..
I®
. ... .....
N.
I I
11
ND
I®
II
ON
..
i,
,ts, r4
M. I 1
66
to to
00
6 i., I
to
Co
to
NN
to
0000
N.
Co
6W
ow
NN
WN
6la
Co
NN
6.6
:
.15
lob
0.
MN
426
90
1(11
I@
:?31
14
".
MN
ir6
to
It, II
..1,
0-
LI
It
NN
Cra;n
r@
Co
NN
6W
eg
".
66
I®
." TZ To
NN WN
67.1 lob
;0 1 .0
.0
-010
Co
II
NN WN NN WM
WW ;1,6
NN .0
0.
10 10
I@
6 3 NO mm NW
0=
.1s.0
.4.
MN oo ION NW
OCo 6L,
C.'
I®
NN NN
-Co C5 CO
0.
WN NW NN
:
11
NN NN
021
ao .N
NN
i@
tt.0.
g,
Co
I I
NO
an
NN
m.
ON NN
Co Co
0.1a
NO
QOe
CO
10 5
I@
. * I@ 10
NN NN NN NN WN NN NN
.7 1L4 66
WO CAin
N.
00.4
W. me
WO
F°
1't,' Ir, Iil 111 Ir, 1r, 1il Ir, 1il
to
e.., ...3
4..,
to
6 6m6
b
0
0
...1 •co
0
6
...1
..
le le le I@ le le le le le le le le
1,3
NI
N
t4
N
.
IV
N
IV
hi
II
It
:
I .1
I e
l,
1 4
1
I:1
I:
g
2
IP
' 1.
i;
S
.
THE VISIBLE SUPPLY OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week's returns, and consequently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
July 26Stock at Liverpool
Stock at London
Stock at Manchester
1912.
bales. 841,000
6,000
91,000
1911.
562,000
18,000
61,000
1910.
439,000
6,000
39.000
938,000
7,000
321,000
170,000
3,000
12,000
17,000
13,000
641.000
0,000
65,000
117,000
2,000
20,000
19,000
9,000
4,84,000 1,054,000
14,000
12,000
130,000 239,000
111,000 216,000
3,000
3,000
25,000
17,000
20,000
25,000
9,000
7,000
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Total Continental stocks
1909.
976,000
13,000
65,000
543.000
242,000
304.000
Total European stocks
1,481,000
India cotton afloat for Europe__ _
88,000
Amer. cotton afloat for Europe
93,434
Egypt,Brazil,&c.,aflt.for Europe_
15,000
Stook in Alexandria. Egypt
64,000
Stock in Bombay, India
549,000
Stock in U. S. ports
256,508
110,503
Stock in U. S. interior towns_
1,880
U. S. exports to-day
883,000
90,000
47,719
21,000
76.000
498,000
154,738
96,276
1,383
788,000 1,581,000
90,000
58,000
87,401
60,626
18,000
14,000
58.000
81,000
565,000 294,000
262,481
273.005
70,037 107,547
8,786
527,000
2,659,325 1,868,116 1,918,668 2,498,215
Total visible supply
Of the above, totals of American and other descriptions are as follows:
AmericanLiverpool stock
bales. 710,000 399,000
347,000 887,000
Manchester stock
71,000
31,000
45,000
50,000
Continental stock
515.000
193,000 243,000 481,000
American afloat for Europe
47,719
93,434
87,401
60,626
U. S. port stocks
154,738 273,005 262,481
256,508
U. S. interior stocks
110,503
96,276
70,037 107,547
U. S. exports to-day
1,880
1,383
8,786
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stook
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
1,758,325
131,000
6,000
20,000
28,000
88,000
15,000
64.000
549,000
937,116 1,024,668 1,884,215
163,000
18,000
16,000
49,000
90,000
21,000
76,000
498,000
92,000
6,000
8,000
61.000
90,000
14,000
58,000
565,000
89,000
13,000
15,000
46,000
58,000
18,000
81,000
294,000
901,000 ',31.000 894,000 614,000
1,785,325 937,116 1,024,668 1,884,215
2,659.325 1,868,116 1,918,668 2,498,215
Total visible supply
7.31d.
6.90d.
Middling Upland, Liverpool
8.16d.
6.73d.
13.00c.
Middling Upland, New York
13.50e.
15.35c.
12.850.
i1 5d.
Egypt, Good Brown, Liverpool
10;id. 135-16d.
9(d.
9.501.
Peruvian, Rough Good, Liverpool
11.00d.
11.00d. ' 8.25d.
6 9-16d.
Broach, Fine. Liverpool
64d.
734d. 6 3-16d.
6;id. 6 11-16d. 7 1-16d.
Tinnevelly, Good, Liverpool
5 TO.
Continental imports for the past week have been 43,000
bales.
The above figures for 1912 show a decrease from last week
1,i65
325325 of 165,330 bales, a gain of 791,209 bales over 1911, an ex20
-168
120
cess of 740,657 bales over 1910 and a gain of 161,110 bales
1,445
100 1,545 over 1909.
_
244
THE CHRONICLE
DroL. Lxxxxv.
AT THE INTERIOR TOWNS .the movement-that is,
NEW ORLEANS OPTION MARKET.-The highest,
the receipts for the week and since Sept. 1, the shipments lowest and closing quotations for leading options in the New
for the week and the stocks to-night, and the same items Orleans cotton market for the past week have been as follows:
for the corresponding period for the previous,year-is set
out in detail below.
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday,
July 20. July 22. July 23. July 24. July 25. July 26.
...0,,,,..00o00000400040
010r.
.444
,
10
0
4, 030'Oh10004044,0,10001v40,
V.000,044,4 ,4.
,
1,4WWW.0.0
.
040
'.000c.i.
.i 4.i
4444 't•••• • 4,
*63"
1.)
"
, .
•
445
C4'
•
00
Cr)
.0.
00
non. con a..con,.. .00 e
N
1 . .44, 4 .40
"
.
4
04
00
4000o0010.04c000-00404040,4v
0500v04,00,00t,
,040,o04000.o
con
,
r..o4ovcnn,4,4coo
,
nonc-.4ncooct-.0t-r-o
00
Oh
.nN004440h04h44,01.
4
.
0.,...000
.44hOO 4
rn'oO..-;4r..n4n0,
t':,,
..;mOn'n,405
,
1.n
,
c1O4.0On4t..ti 00
'010400001000400000'00' 0024==r...1..1,4,n,,
445040,,,
00
,.
011
N ,,M
,
0.0
v-4
I
,1
4
1 .
1 o
r--
.0.1-. al, '0'. '00
14 1.1-100 icY
40,44 i
4,14W
. 44 I
1-1
om .-.
,
• vnnnetn,:lo,c
44
4
CS
. 4'
t
."
".C..
; 4'
"
.mcoo
.4444
U1')
.4'
000101'0500
o0040000003
M
I 141
olf,
40
1.0
4445
400)0)40
40:4C1 ,411
I
00
oho
,c
,,
0744-12-4
.444
el
OS
i
00
09
04
44con..4.4,..Inn
,
.
.
04
CO
IC
4ifjer,lo co0Co4ei,c0 of,,
4 104CM,
t 044.-.C,,
t 4CkPlo V,
CO ozi,
"
.1,440....14,
04.105,,h ,.
.0,
141,1..,
1W ,.
....4....W....1.00
'
9
.
4:3
011
CI I-I
N
CO O '404'100010
:(11 4445 co 4,
'KS
11
to July 26 1912.
1,4 I
iu,
10 1
1,41
•
3
t;
.
.
01
'conc.)
00-401
10 .00
iCO
Cs3
i
00
.
CS
r444
nnmo‘rnmonn
,
nnwoomt
,
nr.ncennnnvnnnooc.
r13
p°4
Ai
0
4
4'4.4c6,4noo4noncetit:44'xim0004nnWOWtZ4cOOot: ocr
.a.nvoor.nc14.14,4 ,4m4,4 co
m o
-0,
054001001 .05100
.04N
v.04.3
•
0
IN
iN
40,1
400100
k,
01
403
.C.4410400
•-4
.00
T-1
:b0)
.5 , .0
I
c.;
I
40. g›,„,cd,4
711j
0 :ut.j 14
04,1E=
CS
4'-
I 41(4
..°00
•05
0
4
0D
:00
00flgil0filEMPItall440043
IIIIIIIIIIIIiIIIIIIIIIIIIIIIIIIII
.62,3p; 4,
OVERLAND MOVEMENT FOR ., THE WEEK AND
SINCE SEPT. 1.-We give 'below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for
the week and since Sept. 1 in.the last two years are as follows:
July 26ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
• Via Virginia points
Via other routes, &o
• Total gross overland
Deduct shipmentsOverland to N. V., Boston, he
Between Interior towns
Inland. &c., from South
Total to be deducted
----1911-12---Since
Week. Sept. 1.
2,920 650,623
66,586
195
50
8,458
171,334
244
1,214
130,363
387 191,373
98 448,349
----1910-11---Since
Week. Sept. 1.
1,130 520,031
1,821
212,153
25,957
42
131,867
34
79,791
388
176,049
43
170,372
5.114 1,667,086
3,258 1,316,220
948
35
2,350
195,303
103,082
83,084
499
190
1,031
166,503
62,263
57,667
3,333
381,469
1,720
286,433
1,781 1,285,617
Leaving total net overland •
1,538 1,020,787
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has been 1,781 bales, against 1,538 bales for the week last
year, and that for the season to date the aggregate net overland exhibits an increase over a year ago of 255,830 bales.
1911 12
In Bight and Spinners'
Since
Takings.
Week.
Sept. 1.
Receipts at ports to July 20____ 12.478 11,463,481
Net overland to July 26
1.781 1,285,617
Southern oonsumption to July 26_ 56,000 2,460,000
1910-11
Since
Week.
Sept. I.
7,990 8,395,695
1,538 1,029,787
43,000 2,232,000
Total marketed
Interior stocks in excess
52,528 11,657,482
.8,011
45,498
70,259 15,209,098
*9,705
10,066
Came into sight during week__ 60,556
Total In slght July 20
15,219,164
North. spinners' takings to July26
8,909
2,374,011
44,517
11,702,080
14,420
2,125,461
•• Decrease during week.
Movement into sight in previous years.
Week1910-July 29
1909-July'30
1908-Aug. 1
Bales.
Since Sept. 143,163 1909-10-July 29
54,071 1908-09-July 30
50,273 1907-08-Aug. 1
Bales.
10,344,399
13,473,736
11,258,784
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.-Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week:
Week ending
July 26.
Galveston
New Orleans_ ._
Mobile
Savannah
Charleston
Wilmington_
Norfolk
Baltimore
Philadelphia
Augusta
Memphis
St. Louis
Houston
Little Rock.._ _ -
Closing Quotations for Middling Cotton on_
Sat'day. Monday. Tuesday. Wed'day. Thursd'y,, Friday.
12%
13%
12.
12
12%
13 %
12
12%
15-3.;
13
13.05
in
123
128
12%
12
13
13.05
13
12%
12%
12%
12 %
12%
13 Si
12 %
12%
13
13'4
12
12 %
13
13'4
12 %
121i
13'4
13'4
12
12'4
15-k-
13
13
13.25
13
12
12'4
13
12h
13
13.25
13j4
13
13
13
12
13
13.25
'
13'4
13
13
13%
12'4
13
13.05
13
12%
12'4
12%
12'4
13.85 -13.14-.22 13.11-.16 13.17-.28 13.46-.50 13.56-.59
13.35 -13.14 -- 13.06 -13.27 -13.48 -13.57 - ® -12.97 -12.85-.92 12.89-.91 13.07-.14 13.13-.18
12.99-.01 12.89-.91 12.90-.92 13.05-.08 13.08-.11 13.13 -
,
- ® -- ® -12.69-.76 12.73-.80 12.92-.97 12.99 12.76-.78 12.68-.70 12.72-.74 12.90-.92 12.92-.95 13.07 12.54-.58 12.44-.54 12.49-.58
12.57-.58 12.47-.48 12.57-.58
_ ® _ _ ® _ _ ® _
12.56-.58 12.46-.47 12.56-.57
12.63-.80 12.75-.85 12.80-.97
12.76-.77 12.78-.79 12.94-.95
_ ® .__..•_ ® _ _ ® 12.75-.77 12.76-.78 12.94-.95
12.52-.55 12.42-.51 12.47-.57 12.58-.78 12,73-.82 12.79-.97
12.55-.56 12.45-.46 12.56-.57 12.75-.76 12.77-.78 12.94-.95
12.54-.59 12.47-.55 12.52-.60 12.61-.82 12.77-.85 12.83-.00
12.59-.60 12.48-.49 12.60-.61 12.78-.79 12.80-.81 12.99-.00
_ ® _ _ ® _ _ ® _- @ _ _ cs, -____ @ 12.61-.63 12.51-.52 12.03-.64 12.81-.83 12.83-.85 13.03-.04
- ® -12.52-.59- ® -12.75-.84 12.87-.93 12.91-.11
12.65-.66 12.56-.57 12.86-.68 12.85-.87 12.87-.88 13.03 - ® -11.64-.72- ® - 12.81-.97 12.98-.01 13.03-.22
12.75-.76 12.65-.66 12.76-.78 12.95-.97 12.98-.99 13.18-.20
Easy.
Quiet.
Easy.
Quiet. Steady. Quiet.
Steady. Steady. Stonily. Steady. Stendv. Steady.
0-
40
N1
JulyRange
Closing
AugustRange
Closing
SeptemberRange
Closing
OctoberRange
Closing
NovemberRange
Closing
DecemberRange
Closing
JanuaryRange
Closing
FebruaryRange
Closing
MarchRange
Closing
MayRange
Closing
ToneSpot
OntIons
WEATHER REPORTS BY TELEGRAPH.-Reports to
us by telegraph from the South this evening indicate that
on the whole the weather has been more favorable during the
week. In districts from which there had been complaint of
excess of moisture the weather has been dry or the rainfall light as a rule. From Texas, the advices are to the
effect that conditions are just as needed.
Galveston, Tex.-Conditions throughout the State are just,
such as needed for the crop. Rain has fallen on one clay of
the week, the rainfall being twelve hundredths of an inch.
.Average thermometer 82, highest 88, lowest 76.
Abilene, Tex.-There has been no rain the past week.
Thermometer has averaged 83, highest being 96 and lowest 70.
Brenham, Tex.-Rain has fallen on six days of the week,
the precipitation being twenty-two hundredths of an inch.
The thermometer has averaged 86, ranging from 74 to 98.
Cuero, Tex.-Rain has fallen on one day of the week, the
rainfall being twenty hundredths of an inch. The thermometer has ranged from 70 to 100, averaging 85.
Dallas, Tex.-Dry all • the week. Average thermometer
86, highest 100 and lowest 72.
Henrietta, Tex.-It has been dry all the week. The
thermometer has averaged 86, the highest being 100 and the
lowest 72.
Huntsville, Tex.-Rain has fallen on two days during the
week, the rainfall reaching seventy-eight hundredths of an
inch. The thermometer has averaged 83, ranging from
72 to 94.
Kerrville, Tex.-It has been dry all the week. The thermometer has ranged from 68 to 94, averaging 81.
Lampasas, Tex.-We have had no rain during the week.
Average thermometer 85, highest 98, lowest 72.
Longview, Tex.-There has been rain on one day of the
week, the rainfall being seventy-two hundredths of an inch.
The thermometer has averaged 87, the highest being 100 and
the lowest 74.
Luling, Tex.-It has rained on one day during the week.
The precipitation reached four hundredths of an inch. The
thermometer has averaged 85, ranging from 72 to 98.
Nacogdoches Tex.-We have had no rain during the week.
The thermometer has ranged from 70 to 96, averaging 83.
Paris, Tex.-We have had rain on one day during the past'
week, to the extent of four hundredths of an inch. Average
thermometer 84, highest 98, lowest 70.
San Antonio, Tex.-There has been rain on one day of the
past week, the rainfall being ten hundredths of an inch. The
thermometer has averaged 84, the highest being 96 and
the lowest 72.
Taylor, Tex.-There has been rain on one day during the
week,to the extent of twelve hundredths of an inch. Minimum
thermometer 70.
Weatherford, Tex.-Dry all the week. The thermometer
has ranged from 74 to 100, averaging 87.
Ardmore, Okla.-Dry all the week. Average thermometer
88, highest 104, lowest 72.
Marlow, Okla.-We have had no rain the past week.
The thermometer has averaged 86, the highest being 103
and the lowest 69.
Tulsa, Okla.-We have had rain on one day of the past
week, the rainfall being twenty-five hundredths of an inch.
The thermometer has averaged 88, ranging from 72 to 104.
Alexandria, La.-We have had rain on three days during
the week, the precipitation reaching one inch and eighty-three
hundredths. The thermometer has ranged from 70 to 97,
averaging 83.
New Orleans, La.-We have had rain on two days during
the past week, to the extent of eighty-nine hundredths of an
inch. Average thermometer 82, highest 93, lowest 71.
Shreveport, La.-We have had rain on one day of the week,
the precipitation reaching forty-four hundredths of an inch.
THE CHRONICLE
JULY E 1912.]
TheIthermometer has averaged 84, the highest being 96 and
the lowest 73.
Columbus, Miss.-There has been rain on two days of the
past week, the rainfall being thirty-two hundredths of an
inch. The thermometer has averaged 84, the highest being
98 and the lowest 71.
Meridian, Miss.-Rain has fallen on two days of the week,
the precipitation reaching ninety-eight hundredths of an
inch. The thermometer has averaged 81, ranging from
70 to 92.
Vicksburg, Miss.-We have had rain on two days the past
week, the rainfall being forty-one hundredths of an inch.
Thermometer has averaged 82, ranging from 72 to 92.
Eldorado, Ark.-Rain has fallen on one day of the week,
the precipitation reaching thirty-seven hundredths of an
.inch. The thermometer has averaged 84, ranging from
72 to 97.
Helena, Ark.-Hot and dry during the week and crops
need rain. Worms are causing damage. The thermometer
has ranged from 75 to 96, averaging 84:
Little Rock, Ark.-Rain has fallen on one day of the week,
the rainfall being two hundredths of an inch. Average
thermometer 85, highest 99, lowest 73.
Dyersburg, Tenn.-There has been no rain during the week.
Thermometer has ranged from 72 to 99, averaging 85.
Memphis, Tenn.-Crop late, but making good progress.
It has been dry all the week. Average thermometer 81,
••
highest 94 and lowest 74.
Nashville, Tenn.-The week's rainfall has been thirteen
hundredths of an inch, on two days. The thermometer has
averaged 81, the highest being 92 and the lowest 70. •
Mobile, Ala.-Weather has been more favorable the past
week, but the high temperature is causing the plant to shed
somewhat. No serious damage, however, is reported from
the boll-weevil. There has been rain on three days the past
week, the rainfall being one inch and twenty-four hundredths.
The thermometer has ranged from 74 to 95, averaging 83.
• Montgomery, Ala.-Crop is very spotted. Hot weather in
some sections has caused deterioration. • The week's rainfall
has been twenty-nine hundredths of an inch, on two days.
• •
Average thermometer 83, highest 93 and lowest 72.
Selma, Ala.-It has rained on two days of the week, the
rainfall being forty hundredths of an inch. The thermometer
has averaged 80, the highest being 90 and the lowest 72.
Augusta, Ga.-There has been no rain the past week.
The thermometer has averaged 83, the highest being 96
and the lowest 71.
• Savannah, Ga.-We have had rain on one day of the past
week, the rainfall being one inch and forty-eight hundredths.
The thermometer has averaged 84, ranging from 75 to 95. •
Washington, Ga.-We have had no rain during the week.
TI-e thermometer has ranged from 72 to 97, averaging 84.
Gainesville, Fla.-There has been no rain (luring the week.
The thermometer has averaged 83, ranging from 70 to 95.
Madison, Fla.-It has rained on two days of the week, the
precipitation reaching twenty-seven hundredths of an inch.
The thermometer has ranged from 74 to 95, averaging 85.
Tallahassee, Fla.-We have had rain on three days during
the week, to the extent of nineteen hundredths of an inch.
Average thermometer 82, highest 93, lowest 72.
• Charleston, S. C.-We have had rain on one day during
the week, the precipitation reaching six hundredths of an
inch. The thermometer has ranged from 77 to 95, averaging 80. "'Or
Greenville, S. C.-We have had rain on three dair73-717,7e
week, the rainfall being eighty-three hundredths of an inch.
Average thermometer 83, highest 98, lowest 69.
Spartanburg, S. C.-There has been rain on two days during the week, the rainfall being one inch and seventy-four
hundredths. The thermometer has averaged 81, the highest
being 94 and the lowest 68.
Charlotte, N. C.-We have had rain on three days of-ine
week, the rainfall reaching eighty-five hundredths of an inch.
The thermometer has averaged '81, ranging from 69 to 93.
Greensboro, N.C.-Rain has fallen on three days during the
week, the precipitation reaching sixty-one hundredths of an
inch. The thermometer has ranged from 63 to 91, averaging 77.
Raleigh, N. C.-There has been rain on three days of the
past week, the rainfall reaching seventy-four hundredths of
an inch. The thermometer has averaged 81, ranging from
• •
68 to 94.
r. WORLD'S SUPPLY AND TAKINGS OF COTTON.
245
EUROPEAN_COTTON CONSUMPTION TO JULY 1.By cable to-day we have Mr. Ellison's cotton figures brought
down to July 1. We give also revised totals for last year
that comparison may be made. The spinners' takings in
actual bales and pounds have been as follows:
October 1 to July 1.
Great Britain.
Total.
Continent.
For 1911-12.
Takings by spinners
8,898,000
bales_
5.381.000
3,517,000
Average weight of bales_ _ _ _lbs_
502
491.2
487
Takings In pounds
1.766,514,000 2,620.547,000 4,387,061,000
For 1910-11.
•_1
Takings by spinners
bales..
4,858,000
3,220,000
8,078,000
Average weight of bales_ __ _lbs_
487.0
477
502
Takings in pounds
1.616.440.000 2.317.26E1_000 3_03n 7ffil MO
According to the above, the average weight of the deliveries in Great Britain is 502 lbs. per bale this season, against
502 lbs. during the same time last season. The Continental
deliveries average 487 lbs., against 477 lbs. last year, and
for the whole of Europe the deliveries average 491.2 lbs. per
bale, against 487.0 lbs. last season. Our dispatch also gives
the full movement for this year and last year in bales of
500 lbs.
1910-11.
1911-12.
October 1 to July 1.
Bales or 500 lbs. each,
000s omitted.
Great ContiBritain nent.
1-71
Great ContiTotal. Britain nent. Total.
Spinners' stock Oct. 1
Takings to July 1
312
3,533
1,104
5,241
Supply
Consumption, 39 weeks
3,845
3,120
6,345 10,190
4,290 7,410
Spinners' stock July 1
Week's Consumption,
000s omitted.
In October
In November
In December
In January
In February
In March
In April
In May
In June
1,416
8,774
169
3,233
972
4,635
1,146
7,868
3,402 5.607
2,814 4.095
9,009
6,909
725
2,055
2.780
588
1,512
2,100
80
80
80
80
80
80
80
80
an
110
110
110
110
110
110
110
110
sin
190
190
190
190
190
190
190
190
ion
GO
70
74
74
74
74
74
74
7A
105
105
105
105
105
105
105
105
Inc
165
175
179
179
179
179
179
179
170
NEW BEDFORD COTTON MILL STRIKE.-The strike
of the weavers and other operatives in the New Bedford
cotton mills, which began July 15 and involves upwards of
10,000 hands, is still in force, although efforts are under way
to reach a settlement of the difficulty. The strike was precipitated by the posting of notices in the various mills announcing a new system of grading the cloth to determine the
pay of weavers, against the objections of the operatives.
Twelve mills in New Bedford are idle as a result of the difficulty, and it was feared at first that it would spread to the
other seven mills, but such it is reported will not be the case,
as the remaining seven mills have agreed not to put in force
the new grading system to which objection is made. - • •
COTTON CONFERENCE.-Resolutions Adopted.-At the
conference of American cotton exchanges held in this city
last week, and at which 41 exchanges were represented, the
following resolutions were adopted:
1. That Liverpool, Bremen and Havre arbitration and appeal committees
be composed of salaried employees of such exchanges, who shall be expert
cotton classifiers, shall give their entire time to such work and have no other
interest in any way connected with cotton.
2. Unless otherwise stipulated in the contract, arbitrations on quality
should be conducted on the basis of official differences ruling in the respective receiving markets on the dates of sale.
3. Application for arbitration to be dated and sealed, arbitration samples
sent to arbitration committee within ten days of last date of landing.
4. An arbitration must be held within 20 days from date of application.
That Havre be requested to adopt the Liverpool and Bremen method of
duplicate sealed samples. That present ruling of allowing three points for
differences between American uncompressed samples and foreign redrawn compressed samples be changed to an allowance of one-quarter
grade on middling and above, and one-half grade on grades below middling;
same to be deducted from any award made, and not to be considered in
making the award.
5. We recommend that all cotton interests work toward the adoption of
a standard of classification for American cotton of all growths.cwhich shall
be world-wide.
6. That in all cases where any shipments are tared by the receiver, if no
excess tare is established, all taring charges roust be paid by the receiver,
including the seller's supervision expenses.
7. That examination of bales for excess tare must be conducted at time
of weighing said bales, and that in weighing the tare allowance must be
made for any moisture therein.
8. That where cotton is arbitrated and penalites assessed in addition to
grade differences, the seller shall have the option of accepting rejection and
replacing in receiving markets within two weeks with quality sold.
9. The seller shall not be required to pay any arbitration fees except
where the allowances exceed double the amount of such fees.
10. In the adjustment of weight outturned and in the event of cotton
being tared. any deficiency of actual tare from tare agreed upon shall be
deducted from any claim for loss in weight on such shipments.
11. We request the Liverpool Association to rescind the antiquated rule
In regard to double draft.
12. That the Liverpool, Bremen and Havre exchanges be requested to
allow 10 days in which to appeal from arbitration.
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Cotton Takings.
Week and Season.
1911-12.
Week.
Season.
1910-11.
Week.
Season.
Visible supply July 19
1,086,142
2,824,655
Visible supply Sept. 1
1,603,418
1,495,514
American in sight to July U.._
44,517 11,702,080
60,556 15,219,164
Bombay receints to July 25_ _ _ _
11,000 2,264,000
19,000 2,459,000
366,000
17,000
39,000
Other India shipm'ts to July 25
451,300
967,800
100
Alexandria receipts to July 24_ _
500 1,010,900
8,000
262,000
15,000
328,000
Other supply to July 24 •
Total supply
DeductVisible supply July 26
2,943,311 20,682,382 2,082,159 17,447,694
2,659,325 2,659,325 1,868,116 1,868,116
283,986 18,023,057 214,043 15,579,578
Total takings to July 26
191,886 14,313,257 139,543 11,559,378
Of which American
02,100 3,709,800
74,500 4,020,200
Of which other
• Embraces receipts in. Europe from Brazil, Smyrna, West Indies, &e.
Alexandria. Egypt,
July 24.
Receipts (cantars)This week
Since Sept. 1_ .
1911-12.
1910-11.
l
1909-10:
700
7,257,528
3,000
7,578,912
400
4,909,466
•
Exports (bales)-
This Since
This Since
Week. Sept. 1. Week. Sept. 1.
•
This Since
Week. Sept. 1.
To Liverpool
To Manchester
To Continent
To America
___ _ 199,750
____ 212,880
227 800217,168
1,250 378,334 1,250 402,032
__ 115,175
120,714
3,500 153,862
___ 119,308
3,500 302,402
1,000 61,952
1.250 921.059
8.000 637.524
Total exnorts
A 'cantor is 99 lbs.
1.250 952.794
Egyptian bales weigh agent 750 lbs
246
INDIA COTTON MOVEMENT FROM ALL PORTS.
1
July 25.
Receipts alBombay
1911-12.
1910-11.
Week.IS
'
g7.
"
1.
Since
Week. Sept. 1.
Since
IVcek.1Sept. 1.
Since September I.
Great Conti- Japan
Great
Britain. nent. tChina Total. Britain.
Bombay1011-12_
2,000
2,001
1910-11__
_
4,000 17,000 21,000
1903-10__
9,000
16,000
7,000
-Calcutta1911-12__ 1,000 3,000 2,000 6,000
1910-1L _
1900-10_ _ 1,655 3.666
4;667.:
Madras•.1911•12__
4,030
4,000
3,000
1910-11_
1,66 2,000
2,000
1909-10__
2,000
All others1911-12.... 2,000 14,000 13,000 29,000
14,000
1910-11_ 7,000 7,000
6,000
1901-10_ _ 2,000 4,000
Total all1911-12._
1910-11_
1909-10 _
1909-10."
11.000 2,264.000 19,000 2,459000 12.000 3,13
.8.000
For the Week.
Exports
front-
Lxxxxv.
THE CHRONICLE
Continent.
Japan
Se China. Total.
11,000 347,000 812,000 1,170,000
57,000 899,000 616,000 1,572,000
95,000 962,001.. 879,000 1,036,000
3,000 23,000 15,000 41,000
8,000 13,000 17,000 38.000
3.000 16.000 9.000 28.000
3,000
3,000
5,000
27,00(
37.000
42,000
26,000
19,00
48,000
56,000
51,000
102,000
3.000
0,000
4,000
11,00(
24,00C
22,00(
2,000
300
1,000
16,000
33,300
27,000
19,000 184,000
65,000 271,00C
32,000 301,00(
91,000 294,000
23,Q00 359,000
15,000 357,000
36,000 569,000
134,000 1,231,001
136.000 1.343.00(
931,300 1,536,000
658,300 2,023,3C0
943.0002,422.000
MANCHESTER MARKET.-Our report received by cable
to-night from Manchester states that the market is firm for
both yarns and shirtings. Merchants are not willing to pay
present prices. We give the prices for to-day below and
leave those for previous weeks of this and last year for
comparison.
1912.
32s Cop
Twist.
1911.
83( lbs. Shirt- Cot'n
ings. common Mid.
Upl's
to Finest.
d. 9.
d.
June
7.934 0 1034 8
14 93( 0 103f (t
21 934
04 10343
28 9 11-130 1034 1
July
5 934 010 13-165
12 10 ig 10 15-13 6
19- 10 8.4 10 15-16 3
26 10 146 Cil It
3
d.
83.1 lbs. Shirt- Cot'r
trigs, common Mid
to finest.
Upl'a
32s Cop
Twist,
s. d
d.
13-4011
2 011
134011
13-401.1
3
3
2
2
6.45
6.63
6.63
6.62
434
5
4
3
8.31
3.27
8.21
8.04
21.4011
3 ©11
334 ,11
4 011
4
0.81 1034 0 113f 6 03.4011 3
5 , 7.071034 0 1131 6 0 011 1 y.:
5
1.21 103.4 44 1134 i 11 0811 0
5
7.31 9% 0 104, 5 0 010 8
7.97
7.70
7..'9
6.0(.
d.
d. s. d.
111-16 0 1M
111-16 0 1F%
0 11%
1034
@ 11)
103-i
3
1
i
1
13.i011
13-1011
034011
1 @II
s. (1
d
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 14,431 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool-July 24-Adriatic, 3,011 upland, 13
Sea Island, 2,600 foreign..
5,624
To Marseilles-July 18-Venezia, 100
100
To Hamburg-July 24-Cleveland, 64
64
To Genoa-July 22-Lulsiana, 550
550
To Bombay-July 23-Wildenfels, 1,412_
1,412
NEW ORLEANS-To Belfast--July 24-Carrigan Head, 700
700
To Havre-July 23-Guatemala, 186
186
To Marseilles-July 23-Cony, 58
58
To Barcelona-July 19-Margherita, 370.... _ _July 23--Gerty,
50_ _ _July 25-Martin Sacnz, 1,600
2,020
To Venice-July 23-Gerty, 500
500
To Trieste-July 23-Gerty, 121
121
BOSTON-To Liverpool-July 15-Cymric, 9_ __ _July 18-Sachem,
469_ _ __July 19-Bohemian, 1,41L_ _July 23-Laconia, 320 2,209
BALTIMORE-To Havre-July 19-Georilan, 7
7
To Bremen-July 24-Necka, 280
280
PHILADELPHIA-To Genoa-July 18-Ancona, 500
500
Total
14,431
The exports to Japan since Sept. 1 have been 383,181 bales
from Pacific ports, 17,548 bales from Galveston, 29,005 bales
from Savannah and 25,194 bales from New York.
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that port:
July 5.
Sales of the week
bales_
62,000
Of which speculators took.
4,000
Of which exporters took__
3,000
Sales, American
52,000
Actual export
7,000
Forwarded
81,000
Total stock-Estimated.. _ ...1,000,000
Of which American
871,000
Total imports of the week._ _ _
23,000
Of which American
5,000
Amount afloat
54,000
Of which American
30,000
July 12.
64,000
0,000
2,000
54,000
3,000
71,000
951,000
819,000
25,000
12,000
54,000
26,000
July 19.
50,000
4,000
1,000
41,000
8,000
70,000
889,000
758,000
15,000
5,000
58,000
28,000
July 26.
52,000
3,000
2,000
43,000
3,000
76,000
841,000
710,000
31,000
18,000
45,000
22,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
The prices are given in pence and 1001hs.
Thus, 0.94 means 0.94-100d.
July 20
Sat.
Mon. I Tues.
Wed.
to
July 26. 1234 1234 1234 4 1234 4 1234 4
P.m. p.m. P.m. p.m. p.m. p.m. P.nl•
July ___ ____
July-Aug--_
Aug.6
Sep------Sep.-Oct
_ ____ 6
Oct.-Nov_
Nov.-De.
_6
Dec.Jan---------- 6
Jan.-Feb
Apr.-Mch. ____ 6
Mch:Apr. __6
Apr.-May. ____ 6
May-June ____ 6
Thurs.
Fri.
1234 4 1234 4
p.m. p.m. p.m. p.m.
94
90 90 A 94 A 95 9754 973-i 07 A 06 34 07 1234
0234 88 ;6 89 93 04
963-1 90 A 0634 00 0651 1134
87;6 8334 8434 883-1 803-1 91 34 91 34 01 A 01
01
0434
82 93 91
743-i 72 73 76 A 78 81
91
943-1
6834 65 00 A 69 A 71 34 74
753-1 86 A 84 A 84 . 8634
64
61
02 65 07 6054 71
82 7954 79 8134
63 59 A 61
64 % 66 683-4 70 81
7834 78 805-4
63 60 61 % 64 % 66
70 81
09
79 7834 81
07
6334 60 54 62 65
603-1 70.1-1 81 A 79 34 79 81 A
6434 61 )4 63 66
68 7034 7134 82 80 7934 8234
65 62 63 A 66 A 68 )4 71
82 36 80 A 80 82
72
66 63 64 )4 67 A 69 A 72
83
733.1 83 A 81 34 81
f3READStUFFS.
Friday Night, July 26 1912.
Flour continues heavy in tone, reflecting the reactionary
tendency in the wheat market. Buying is of a hand-tomouth character, as the trade looks for further reduction in
prices. Minneapolis reports an increase in the output, there
being three more mills in operation. The larger plants reported more active sales, though probably not over 75%
of the production was taken. It is significant of the disposition of buyers that only small lots are wanted. Supplies
must be light, however, in the country, for a rush shipment
is specified. The unsettlement in the market is not likely
to decrease in the near future. Cutting of wheat in the
Northwest means an early movement in that section.
Wheat reacted further, but met with more resistance.
The market was less one-sided. Favorable weather was the
rule, but nevertheless the bulls had their innings. Liquidation of weak holdings has been largely eliminated. Consequently, another black-rust scare caused a temporary upturn. Too much rain and humidity was reported in some
sections of the Northwest. But with clear and cooler weather, these fears evaporated. It is hard to keep down crop
estimates. So-called experts vied with one another in their
predictions. For the three States of Minnesota, North and
South Dakota, 275,000,000 to 300,000,000 bushels are expected. The crop is practically assured and cutting is under
way except in the Northern section. The yield per acre is
large, 25 to 40 bushels, according to some reports, the plant
heading exceptionally well. In the Southwest the receipts
are increasing as the crop movement of winter wheat is in
full swing. Showers have delayed harvesting at some points.
Generally speaking, however, the weather has been favorable. The yield in some States has turned out better than
expected, and estimates of the ultimate outturn are being
increased. The Government figures will be exceeded, according to competent judges. In fact, predictions of the
total wheat crop for both winter and spring run all the way
from 650,000,000 bushels to 700,000,000 bushels. The latter
figure, however, seems excessive. Freer receipts and lower
prices have had the natural effect of facilitating export business. This has not been large, but sufficient to give greater
stability at times to the market. It is evident that Europe
considers the market to be approaching the point
where stability may be affected. Sight should not be lost
of tile fact that farm reserves are moderate and stocks the
world over none too large. For the week the American
visible supply decreased 2,791,000 bushels, which compares
with an increase of 4,958,000 last year. Some reports from
abroad have indicated that the Russian crop may not come
up to expectations; this also suggests a good inquiry from
abroad for American wheat. In fine, from now on increasing
receipts should find an offsetting factor in larger exports.
The American shipments for the week were larger-2,560,000
bushels as compared with 2,032,000 bushels last year.
World's shipments, however, about held their own, being
10,672,000 bushels, as against 10,608,000 in 1911. To-day
prices advanced on reports of black-rust in North Dakota.
Covering of shorts was also stimulated by rumors that further
export business in hard winter wheat had been nertiated.
Well-informed people, however, said that the grain is too
far matured to be greatly damaged.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
ctsAO834 107
No. 2 red
108
1103-4 109
10934
July delivery in elevator
10834 10734 10754 108%
10034 100
September delivery in elevator_ __ _101
101 34 10034 100 11 10154
100
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
cts_ 07
July delivery in elevator
0534
96
98 H 07
07
September delivery in elevator_ _
0234 0334 ••
9334 92 A 0434 93
Indian corn showed a mixed tendency. The July option
rallied as did deferred positions to a lesser extent, though
Market,1Fair
the full improvement did not hold. The market was over12:15 } Quiet.
Good
Good
Good
Good
busines
sold. Shorts considered it the part of wisdom to cover.
I'. M. 1
demand.
demand.
demand.
demand.
doing.
Reports of hot temperatures in Nebraska, Kansas and
..
Mid. Cprds
7.32
7.19
7.21 •
7.18
7.14
7.31
Oklahoma stimulated the advance; subsequently much
Sales..._ .
10,000
5,000
10,000
needed rains appeared in most of the belt. 'Yet crop pre10,000
10,000
8,000
Spec.&ex-p.
1,000
800
1,000
1,030
1,500
800
dictions continued favorable. Iowa was especially cheerful
Futures.
on the outlook, the plant being in splendid condition.
Quiet at
Quiet at
Quiet at Steady at
Quiet
Market 1 3 points
G points
102 pts.
2 poiata
Steady
unSome circles put the indicated crop for this State at 352,opened 1 decline,
advance.
advance.
decline.
uneh'ged.
changed.
..
000,000 bushels and that of the entire country at 2,900,Market, 1 Ellay at
Easy at Irregular at 000,000 bushels. This would mean an increase of 400,Quiet at
Quiet at
Quiet at
4
: 31406 pts 134033-4 0405 pts. 23404 pts 8)469)4 13406 pts.
000,000 bushels over last year. The visible supply, however, decreased 1,758,000 bushels for the week, as against
The prices of futures at Liverpool for each day are given a loss of 2,579,000 bushels last year. To-day, prices reacted
below. Prices are on the basis of upland, good ordinary downward on rains in sections where moisture was badly
clause, unless otherwise stated.
needed.
67.
Cpol.
Eaturday.
Monday.
Tuculay.
Wednesday. Thursday.
Friday,
247
THE CHRONICLE
JULY 27 1312]
NEW YORK. unable to begin the production of spring goods for at least
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN
Sat. Mon. Tues. Wed. Thurs. Fri.
ets_Nom. Nom. Nom. Nom. Nom. Nom.
Cash corn
Nom. Nom. Nom. Nom. Nom.
Nom.
July delivery in elevator
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
71 34 72 34 71
68 34 71
as_ 68
July delivery in elevator
September delivery in elevator_ __ _ 6494 63 X 6634 6694 65 94 0534
Oats showed a rallying tendency, the same as wheat and
corn. Except for July option, however, the gains were
subsequently lost. Strength of the cash position explained
the action of the present month. The yield promises to be
exceptionally large. One estimate runs 1,222,000,000 bushels, or approximately 300,000,000 more than in 1911. Some
complaints of lodging due to the rain are heard. Generally
speaking, however, the harvesting of the crop is progressing
favorably. Primary receipts are increasing, though still
rather moderate. The visible supply showed a decrease for
the week of 1,274,000 bushels, as compared with a decrease
last year of 869,000 bushels. To-day prices declined, especially July, which broke sharply. Good crop prospects
and a weak cash situation stimulated liquidation.
NEW YORK.
DAILY CLOSING PRICES OF OATS IN
Thurs. Frt.
Sat. Mon. Tues. Wed.
62
60 ..01®6134 62
ots.. 5734 59
62
61®6134 62
5734 59.. 60
IN
CHICAGO.
OF
OATS
FUTURES
PRICES
DAILY CLOSING
Sat. Mon. Tues. Wed. Thurs. Fri.
4634
48 34 49 34 50
ots.. 42 34 44
July delivery in elevator
33 y, 33 y,
September delivery In elevator_ _ _ _ 33 94 33 34 34% 34
Standards
No. 2 white
Closing prices were as follows:
FLOUR.
Winter, low grades--53 75 Q.54 101 Kansas straights, sacks_ $5 05@55 15
5 851Kansas clears, sacks__ 4 15Q 4 55
5 65
Winter patents
5 00
6 60
6 30
5 101Clty patents
Winter straights
4 60
4 50
4 801 Rye flour
4 25
Winter clears
5 35® 5 80!Graham flour
4 00i 4 70
Spring patents
5 00Q 5 50!Corn meal, kiln dried
4 05
_
Spring straights
4 75® 5 001 Buckwheat,owt
Nominal
Spring clears
GRAIN
Corn, per bushelWheat, per bushel-f. o. b.
$1 1534
No. 2
elevator
N. Spring, No. 1
1 11 %
elevator
Steamer
N. Spring, No. 2
1 09 X
c.i.f.
No. 3
Red winter, No. 2
1 01 4 Rye, per bushelHard winter, No. 2
No. 2 Western
Cents.
Oats, per bushel, new62
State & Pennsylvania
Standards
62
Barley-Malting ____....
No. 2 white
62
No. 3
For other tables usually given hero, see page 216.
Cents.
8194
Nominal
Nominal
76
Nominal
Nominal
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports July 20 1912, was as follows:
UNITED STATES GRAIN STOCKS.
Amer.Bonded Amer. Amer. Bonded Amer. Amer. Bonded
IV heat. Wits:U. Corn. Oats. Oats. Rye.Barley. Barley.
bush, bush. bush. bush. bush. bush. bush. bush.
In Thousands32
1
140
378
203
486
29
New York
2
2
21
341
Boston 10
11
""iii 385
Philadelphia
10
118
237
16
381
Baltimore
85
___ _ 212
New Orleans
"ion
5
Galveston
57
76
48
69
Buffalo
665 "Wei
484 "-i89
3
Toledo
20
023 ___50
10
Detroit
82
264 -_-139
Chicago
126
430
7,667 ____ 2,213
12
Milwaukee
25
9
2
.
107
34
7 ""ii
Duluth
03
31
2,773
384
Minneapolis
220
4,171
59
15
86
103
8
60
St. Louis
384
Kansas City
26
112
15
Peoria
17
30
67
Indianapolis
358
20
18
402
50
5
Omaha
138
545
On Lakes
"iii
73
On Canal and River__ _ _
84
302
334
349
1912_17,986 2,416 4,802 1,676
145
221
403
430
1912...20,084 2,293 0,372 2,408
13
020
8,517 10,901
1911_34,394
206
850
3,909 3,016
1910_10032
CANADIAN GRAIN STOCKS.
Canadial Bonded
fanadian Thnled Canadian Bonded
Wheat. W neat. Corn. Oats. .Oats. Rye. Barley Barley.
bush. bU.Sh. bush. bush. tush. bush, bush. bush.
In Thousands1,240'4 ____
13 ____
544 -___
Montreal
9
J..---3,281
Fort William
--- 1,630 ____
---1,673
Port Arthur
3,244
Other Canadian
---- 1,912
20
13
22
23
Total
Total
Total
Total
July
July
July
July
Total
Total
Total
Total
July 20 1912- 0,438
July 13 1912_19,110
July 22 1911_ 5,872
July 23 1910- 4,376
In ThousandsAmerican
Canadian
Total
Total
Total
Total
July
July
July
July
20
13
22
23
0 4,933
9 5,135
794 5,521
050
14
-_-
13
___
____
____
31
159
_
____
SUMMARY.
Bonded
Bonded
Wheal. Wheal. Corn. Oats. Oats.
bush. bush. bush. bush. bush.
302
17,986 2,416 4,802 1,676
9 4,933
9,438
1912...27,421 2,416 4,811 6,609
1912_30,221 2,293 6,381 7,631
1911_40.261 ____ 9,311 16,422
1910..14,458 __._ 3,923 3,965
302
221
Bonded
Rye. Barley. Barley.
bush. bush. bush.
84
349
334
362
334
403
435
951
13
290 1,009
84
145
THE DRY GOODS TRADE.
New York, Friday Night, July 26 1912.
All descriptions of dry goods still continue in a strong
position, with distributers daily becoming more active ill
covering future needs. Complaints over the tardiness of
deliveries and reports of production below, requirements
still dominate the trade, and manufacturers are slowly but
steadily strengthening their asking prices. There has been
pronounced strength in .the men's wear and dress goods
divisions of the market, with business in staple men's wear
running ahead of this period a year ago. In dress goods
large factors were slow in opening their lines for spring of
1913, as they •are so well situated on fall business as to be
three months to come. Smaller factors who had opened
their lines early and at trifling advances over a year ago
are now regretting their action. The steadily increasing
cost of raw material will not permit them to fill this early
business at a profit. They are consequently revising their
price schedules and notifying buyers that they will from
now on reserve the right to advance their lines without previous notice. In summing up the situation in woolens and
worsteds, it is safe to say that the rate of production on both
fall and spring lines will be below requirements. The mills
are filled with business up to the end of the year and are
very conservative about making engagements for delivery
beyond that time.
In staple cotton goods business is increasing, with strong
indications of further advances in prices. The strike is progressing at the New Bedford mills, and fears that the trouble
may spread and take in other localities is causing no end of
uneasiness among printers and converters. Even under
normal operating conditions the latter would have difficulty
in getting timely deliveries, owing to the scarcity of weavers;
but with a strike in progress they are entirely at a loss to
understand how they are going to get out their lines for the
forthcoming season. Print cloths are decidedly firm, with
excellent inquiry for all widths running up to the close of the
year. An advance of 3,4c. has been announced on several
prominent lines of prints to take effect Aug. 1. Large distributers of staple cottons who have been watching the situation very closely are becoming anxious about covering
t*,eir requirements ahead. They are willing to contract
fir goods over the end of the year, but mills are so well
booked with business and the raw material situation is so
uncertain that they are very conservative about accepting
contracts for delivery beyond the turn of the year. Distributers are aware that they will have to meet higher prices
later on, but they are chiefly concerned with the matter
of getting orders placed, so as to have goods coming to hand
when needed to meet the tremendous demand which must
come forward when retailers throughout the country begin
to replenish their stocks. With excellent crops in sight and
general business on the upbuild, retailers will not delay
much longer in putting their stocks into shape.
DOMESTIC COTTON GOODS.-The exports of cotton
goods from this port for the week ending July 20 wore 8,823
packages, valued at $283,598, their destination being to the
points specified in the table below:
Week.
New York to Julif20187
Great Britain
55
Other Europe
275
China
21
India
Arabia_
.i0
Africa
572
West Indies
58
Mexico
551
Central America
1,832
South America
3,932
Other countries
1,3
Total
Since
Jan. 1.
3,174
1,294
48,344
16,621
35,507
16,119
27,780
1,859
12,570
41,670
42,178
Week.
23
7
2,407
2
516
1,046
811
29
353
839
1,520
Since
Jan. 1.
476
575
56,323
17,314
12,304
7.996
22,756
1,325
11,516
34,876
22,337
3 • 187,798
.
8.823 • 247.116 •,..:7,55
The value of these New York exports since Jan. 1 has been
$15,710,905 in 1912, against $13,376,811 in 1911.
Domestic cotton markets have been active during the
past week, and the steadily increasing demand has had its
effect in strengthening prices in nearly all lines of goods.
Jobbers from the Southwest as well as from the Middle West
have made purchases in a general way, and have expressed
very optimistic views regarding the future in their respective
territories. Merchants all over the country whose stocks
are depleted are beginning to realize that they held off too
long, as they now find it impossible to buy except at advancing prices. Not only is the cost of raw material becoming dearer, but production has been restricted by labor
troubles of one kind and another, with mills, in many instances, finding it hard to make deliveries as requested. It
is evident that with the shut-down in the New Bedford mills
that many goods will be scarcer than usual next season.
Dealers in wash fabrics and fancy cottons report moderate
buying, but not as active as they would like. Bleached
sheetings, ginghams, colored cottons and ducks generally
rule firm with sales fair. Demand for tickings and denims
continues to broaden. Print cloths and convertibles have
developed firmness with the trade active. Demand for wide
prints has been particularly good for bleaching and converting purposes. Full prices are being paid. Gray goods,
38%-inch standard, are quoted 53j cents.
• WOOLEN GOODS.-Men's wear and dress goods markets
continue very firm and active. It is reported that a number
of dealers in dress goods have transacted a larger business
thus far this year•than ever before. Values on many lines
have been marked up and agents in a number of cases have
notified buyers that mills will reserve the right to advance
prices at any time..
FOREIGN DRY GOODS.-Notwithstanding the higher
prices, demand for linens continues active. While there
is a good call for all kinds of dress linens, buyers display a
marked preference for browns. Housekeeping goods are
also in active request, with considerable buying for fall delivery. Burlaps have been very active with prices higher.
Light-weights are quoted at 5.50c. and 10%-ounce at 7c.
248
THE CHRONICLE
STATE MO CiTY
triMITMENT.
News Items.
Anadarko, Okla.-Election on Commission Form of Government.-An election will be held Aug. 3 to vote on the
question of adopting the commission form of government.
Anniston, Ala.-Election on Commission Form of Government.-A vote will be taken Aug. 8, it is stated, on the question of adopting the commission plan of government.
Hawaii.-Bond Offering.-D. L. Conkling, Territorial
Treasurer, will receive proposals until 2 p. m. Aug. 15 at the
office of the U. S. Mtge. & Tr. Co., 55 Cedar St., New York,
for $1,500,000 4% coup. public-impt. bonds. Denom.
$1,000. Date Sept. 3 1912. Int. semi-ann. Due Sept. 3
1942, opt. aft. Sept. 3 1932. The United States Treasury
Department authorizes the statement that the bonds will be
accepted as security for public deposits at their par value,
but not exceeding their market value, should further deposits be made. These bonds are also available as security
for Postal Savings Banks deposits on the above basis.
Hyde Park (Now Annexed to Boston), Mass.-Suit
Attacking Water Bond Sale Dismissed.-Judge Pierce in the
Superior Court at Boston has dismissed the suit brought by
G. W. Pfeiffer and other Hyde Park property owners to set
aside the sale of $468,000 bonds by the town to purchase the
plant of the Hyde Park Water Co. The .bonds referred to
were solcl, as previously stated in the "Chronicle," in March
1910. The Court, after full consideration of the testimony,
which was very lengthy, finds that no persons acted
corruptly in acquiring the plant, and that 'there is not
reasonable cause to believe that the money of the town of
Hyde Park is being, or has been, unlawfully or corruptly
expended."
Louisville, Ky.-Agreementfor Purchase of Gas Co. Shares
Owned by City.-Newspaper dispatches state that Mayor Head
has reachecran agreement with J. B. Brown and W. H. Harries, representing Byllesby & Co., Chicago, for the purchase
by the latter interests of the 9,250 shares of stock'owned
by this city in the Louisville Gas Co. The price, it is reported, is $150 a share. It is stated further that the Mayor
has called upon the General Council to legalize the sale and
at the same time to grant permission to the gas company to
abrogate the provision of its charter, which forbids the acquisition by any individual of more than 1,000 shares of the
company.
Newport, Campbell County, Ky.-Annexation of Neighboring Cities Proposed.-In November a vote will be taken
on the question of annexing to Newport the cities of Dayton,
Bellevue, Clifton, Cote Brilliante, Southgate and the District of Highlands.
Oklahoma.-Court Interprets Law Authorizing Townships
to Issue Bridge Bonds.--On July 12 "Judge W. R. Taylor of
the District Court held that the Act of the 1911 Legislature
authorizing townships to vote bonds for the construction of
bridges across streams which may form the boundary line
between two counties applies only to bridges at a point
where the river composes such boundary line. The particular issue involved was one voted by Ratliff Township, Johnston County. The law was construed by this township to
mean that if a river formed a county boundary a bridge
could be built at any point within the county. The Washita
River which flows through Ratliff Township forms the
boundary line between Johnston and Marshall counties,
15 miles farther down the stream. The case, it is said, will
be appealed to the Supreme Court.
Riverside, Cal.-Council Makes Contract for Purchase of
Water System.-Pn July 16 City Council approved a contract
for the purchase by the city of the domestic water system of
the Riverside Water o. The agreement was ratified on
July 19 by the directors of the water company. The prico
upon, it is said, is $575,000. The Los Angeles
agreed upon
17 says:
"Thnes" ot
The negotiations recently failed through the inability of the two parties
to agree to a clause which contemplated protecting the city from litigation
by the company in case it was deemed that the city's development on the
Byrne tract depicted the supply on the company's land adjoining. Now
it is agreed that the company will hold the city harmless from liability
through the diversion of any free-flowing gravity water from the Byrne
tract, and also the development and diversion of pumped water, in so far
as the pumping does not deplete the water which the company Is now legally
obligated to deliver to other companies and 100 inches additional now
diverted by the company.
Sullivan County, Tenn.-Bonds Declared Valid.-Judge
Dana Harmon of the Circuit Court on July 20 declared valid
the $200,000 road bonds mentioned in V. 94, p. 1578. The
case will be appealed, it is expected, to the Supreme Court.
Wildwood, N. J.-Voters Favor Commission Form of Government.-The election held July 23 (V. 95, p. 126) resulted
in favor of the question of adopting the commission plan of
government. The vote was 346 to 128. ,
Bond Calls and Redemptions.
Missouri.-Bond Calls.-Whitaker & Co. of St. Louis in
their quotation pamphlet dated July 15 include the following
list of municipal bonds which have been called for redemption:
Poplar Bluff 4% bonds for building the city hall and jail, Nos.8 to 11 Incl.
dated July 1 1901, for $500, were called July 1.
_
• . ..._ •. •.
[VOL. iaor.xxv.
Elsberry School District No. 1-51-2 East, Lincoln County, 6% building
bond No.9, of the 5-20 series, for $500, dated July 1 1904, was called July 1.
Kirksville School District
building bonds, Nos. 53, 54. 55, 58, 57,
58 and 59, for $500 each, dated°July 1 1899, were called July 1.
Lathrop School District 5% building bonds, Nos. 1 and 2, for $500 each,
dated June 4 1907, have been called and will be paid Dec. 1.
School District No. 5-23-7 (New District No. 57), Butler County, Mo..
6% building bonds, Not. 1, 2 and 3, for $100 each, dated June 1 1907,
were called July 1.
School District No. 1-26-4 (New District No. 8), Butler County, Mo.,6%
building bond No. 2, for $100, dated Sept. 1 1906, was called July 5.
School District No. 79-26 and 27-22, Christian and Stone Counties, Mo.,
7% building bond No. 3, for $100, dated June 15 1906, were called June 15.
School District No. 52-17-9 and 10, Dunkiln County, Mo., 6% building
bond No. 8, for_$500,tdated,June_1 1905„was_called July
St. Joseph, Mo.-Tenders of Bonds Requested.-This city
will receive proposals for the redemption of $60,000 of its
outstanding bonds until Aug. 15 by T. Shaffer, City Compt.
Tacoma, Wash.-Bond Call. -The following bonds are
called for payment:
District.
No. of bonds.
Int. ceases.
Local Improvement District No. 565, Not. 1 to 15, inclusive_ __ _July 15
Local Improvement District No. 191, Nos. 4 to 14, inelusivo......_
do
Local Improvement District No. 709, Nos. 13 to 26, Inclusive_ _ _ _
do
Local Improvement District No. 655, Nos. 13 to 34, inclusive_ _ _ _
do
Local Improvement District No. 614, Nos. 8 to 9, inclusive_ ....July 14
Local Improvement District No. 397, Nos. 38 to 49, inclusive_ _ __July 11
Local Improvement District No. 510, Not. 301 to 337, inclusive_ _ _ _
do
Lacal Improvement District No. 184, No.
7
July 10
Local Improvement District No.657, Nos. 14 to 21, inclusive..... do
Local Improvement District No.408, Not. 178 to 207, inclustvo_ _
do
Local Improvement District No. 726, Not. 5 to 6,inclusive_ _July 7
Local Improvement District No.637, Nos. 1 to 7, inclusive_ _
do
Local Improvement District No.631, Not. 27 to 61, inclusive_ _ _ _
do
Local Improvement District No. 441, Not. 1 to 11, inclusivo_ _ _ _
do
Local Improvement District No.633, Nos. 13 to 17. inclusive_ _ _July 3
Local Improvement District No.641, Not. 26 to 35, inclusivo_ _ _
do
Local Improvement District No.653, Nos. 13 to 14, inclusivo_ _ _ _
do
Local Improvement District No. 524, Nos. 114 to 133, inclusive_
July 2
Local Improvement District No.682, Nos. 18 to 38, inclusive_ _ _ _July 19
Local Improvement District No.715, Nos. 8 to 29, inclusivo_ _ _
do
Local Improvement District No.741, not. 12 to 22, Inclusive_ _ _ _
do
Local Improvement District No. 564, Nos. 1 to 51, inclusive_ __ _July 17
Bond Proposals and Negotiations this week
have been as follows:
ALABAMA CITY, Etowah County, Ala.-Bonds Voted.-A favorable
vote was cast on July 12, it Is stated, on the proposition to issue the $50,000
water-works, sewerage and city-halt bonds (V. 94, p. 1715).
ALLIANCE, Stark County, Ohio.-Bond Sate.-On July 8 $13,800
4;•6% 21-year general street-lmpt. bonds were awarded to Hayden, Miller
& Co. of Cleveland for $14,685 (106.41)-a basis of about 4.045%. Denom.
(27) $500 and (1) $300. • Date July 1 ,1912. Interest J. & J.
ANNAPOLIS, Md.-Bond 'Sale Not Consurnmated.-The sale of the
$100,000 4% 30-yr. water bonds on May 20 to Kean, Taylor & Co. of
N. Y. was not consummated, it is stated. As reported in last week's
"Chronicle," these securities are being re-offered on Aug. 16.
ANSONIA. Darke County, Ohio.-Bond Sale.-On Juno 25 the $1,000
5% 3-4-yr. (ser.) coup. street-repair tax-free bonds (V. 94, p. 1715) were
awarded to Sarah E.Sprowe at 100.60.
ANSON COUNTY (P.O. Wadesboro), No. Caro.-Bond Sale.-On July 1
$75,000 5% court-house and jail bonds were awarded to C. A. Webb & Co.,
of Asheville at par less $750. Denom. $1,000. Date July 1 1912. Int.
J. & J. Due 1934.
ANTWERP SCHOOL DISTRICT (P.O. Antwerp), Paulding County.
Ohio.-Bonds Defeated.-An election held July 23 resulted in the defeat
of the proposition to issue $6,000 bldg. bonds. The vote was 58 "for"
to 70 "against."
ASHLAND COUNTY (P. 0. Ashland), Ohio.-Bond Sale.-On July 10
the $20,000 434% bridge bonds (V. 94, p. 17713) were awarded, it is stated,
to Breed ec Harrison of Cincinnati at 102.20. . • • • • • • • . • • • •
• ASHTABULA, Ashtabula County, Ohio.-Bond OfferIng.-Proposals
will be received until 12 m. Aug. 28 by F. W. Wagner, City Auditor, tot'
the following 5% bonds*
$4,000 street-impt. (city's portion) bonds. Denom. $800. Due $800
•
• yearly Oct. 1 from 1912 to 1916, inclusive.
12,000 South Ridge Road, West and Adams Sts sewer bonds. Denom,
$800. Due $2,400 yearly Oct. 1 from 1912 to 1916 incl.
2,400 Fitch St. paving bonds. Denom. $240. Due $240 yearly Oct. 1
from 1912 to 1921 inclusive.
3,500 Foster St. paving bonds. Denom $350. Due $350 yearly Oct. 1
from 1912 to 1921 inclusive.
2,700 Cherry St. grading bonds. Denom. $900. Due $900 Oct. 1 in 1912,
1913 and 1914.
6,000 Henry St. paving bonds. Denom. $600. Due $600 yearly Oct. 1
from 1912 to 1921 Inclusive
Date April 11912. Int. A. & 0.at Ashtabula. Cert. check on a national
bank for $500, payable to the City Treasurer, required..... . . .
AVON. Livingston7County.i:N. Y.-Bond!Sale.-On July 23 the $10,000
4-23-year (serial) reg. sewage-disposal and sewerage-extension tax-free
bonds (V. 95, p. 188) Were awarded to Isaac W. Shen•111 of Poughkeepsie
at 100.05 for 4.405. Other bids follow:
$10,007 50 for 4.45s
John J. Hart, Albany
10,031 00 for 4.50s
Douglas Fenwick & Co., New York
10,037 50 for 4.50s
Union Trust Co., Rochester
10,039 00 for 4.50s
Adams & Co.; New York
10,022 00 for 4.60s
Lobdell & Co., New York
10,018 10 for 4.70s
Harris, Forbes 80 Co., New York
10,012 00 for 5s
Farson, Son & Co., New York
BALTIMORE COUNTY, Md.-Bond Offering.-Proposals will be received on or before Sept. 3 at the Co. Commissioners' office at Townson for
road bonds. Denom. $1,000. Int. J. 80 J. Duo $100,000
5300,0004 S%
e2
on July 1 in /1913, 1914 and 1915. Cert. check or bank draft for 2% of
bonds bid.for required. Bids must be made on blanks to be furnished on
request. These bonds are part of an issuc of $1,500,000 (V. 94, p. 1131.)
BAY, Ohio.-Bond Offering.-Proposals will be received until 12 m.
Sept. 3 by I. C. Powell, Viii. Clerk (P. 0. West Dover), for $10,000 4%
town-hall bonds. Denom. $500. Date Oct. 1 1912. Int. seini-ann.
Due $500 each six months from Oct. 1 1917 to Apr. 1 1926 11101. Purchaser
to pay accrued interest.
BAY CITY. Bay County, Mich.-Bond Sale.-On July 22 the $42,000
5%4 1-6-year (ay.) local-impt. bonds (V. 95, p. 126) were awarded to
Hoehler & Cummings of Toledo at 102.20 and Interest-a basis of about
4 h%. Other bids follow:
C. F. Childs & Co., Chicago_ _$42,924 N. W. Halsey & Co., Chlo_$42,600 00
S. A. Kean & Co., Chicago__ 42,882 B. H. Rollins & Sons,Chlo. 42,592 20
Bay Co. S. Bk., Bay City... 42,770 C. E. Denison & Co., Cloy_ 42,542 60
42,735 Spitzer, Rorick &Co., Tol. 42,487 20
Otis & Co., Cleveland
42,670 Lumberman's State Bank,
W. E. Moss & Co., Detroit
42,640
Security Trust Co., Detroit
Bay City
42,000 00
BELLE VILEW SCHOOL DISTR CT, San Luis Obispo County, Cal.
Bond Offering.-The County Supervisors will sell an issue of $1,800 bonds
on Aug. 6, according to reports.
BELMONT COUNTY (P. 0. St. Clairsville), Ohio.-Bond Sale.-On
July 20 the $73,500 5% turnpike bonds (V. 95, p. 65) were awarded to the
New First Nat. Bank of Col. for $75,000 (102.01) and int.; It Is stated..
BELOIT, Mitchell County, Kan.-Bonds Voted.-The proposition to
Issue $20,000 bonds to aid the Dakota Kansas & Gulf By. Co. In building
Its line from Beloit to Kearney, Neb., carried, reports state, by a vote of
201 to 60 at an election held July 16. • • . • • • • • •
• .. ...
JULY 27 1912,1
THE CHRONICLE
BEMIDJI INDEPENDENT SCHOOL DISTRICT, Minn.-Bond Sale.
On July 18 $6,000 5% bldg. bonds were awarded to Fred. Noris of Bemidji
for $6,170 (102.83) and blank bonds. 1)enom. $1,000. Int. semi-ann.
Due in 1921.
BEND, Crook County, Ore.-Bands Voted.-The election held July 20
resulted In favor of the proposition to issue the $60,000 sewer-contsruction
bonds (V. 95, p. 188). It is stated that the vote was 119 to 24 and that
the bonds will be sold within 60 days.
BETTSVII,LE SCHOOL DISTRICT (P. 0. Bettsville), Seneca County,
Ohio.-Bonds Refused.-According to reports, the First Nat. Bank of Cloy.
has refused the $12,000 4 X% school bonds awarded to them on June 27
(V. 95, p. 65). because of an alleged defect in the advertising notice.
BLOOMINGTON SCHOOL DISTRICT. San Bernardino County, Cal.
Bonds to be Offered Shortly.-Thls district, it is stated, will soon offer
$20,000 bonds.
BOGATA INDEPENDENT SCHOOL DISTRICT (P. 0. Bogota), Red
River County, Tex.-Bond Election.-An election will be held Aug. 3 to
vote on the question of issuing $12,000 bldg. bonds, reports state.
BOMARTON INDEPENDENT SCHOOL DISTRICT (P. 0. Bomarton).
Baylor County, Tex.-Bond Sale.-On July 15 $2,520 5% 10-40-yr. (opt.)
bldg. bonds were purchased by the State Permanent School Fund at par
and int. Date July 1 1912. These bonds are part of an issue of $8,400,
registered by the Comptroller on July 15, all of which have now been contracted for.
BOWLING GREEN SCHOOL DISTRICT (P. 0. Bowling Green), Wood
County, Ohio.-Bond Offering.-Proposals will be received until 12 m.
Aug. 15 by N. R. Harrington, Clerk Bd. of Ed., for the $100,000 4% highschool bonds voted June 29 (V.95, p.05). Denom.$1,000. Date Aug. 15
1912. Int. M. & S. Due part each six months from March 1 1914 to
Sept. 11948, Incl. Cert. check for $500, required.
BRAINTREE, Norfolk County, Mass.-Bond Offering.-Proposals will
be received until 1 p. m. Aug.6 by B. J. Dyer, Town Treas., for$50,000 4%
coupon town-hall bonds. Date June 1 1912. Int. J.'fc D. at the Old
Colony Trust Co., Boston. Due $3,000 yrly on June 1 from 1913 to 1922
Inc., and $2,000 yrly. on June 1 from 1923 to'1932 incl. Bonds will be
certified as to genuineness by the Old Colony Trust Co., which will further
certify that in the opinion of Ropes, Gray & Gorham, this issue is a valid
obligation of the Town of Braintree.
BRAZORIA COUNTY COMMON SCHOOL DISTRICT NO. 1, Tex.
Bonds Awarded in Part.-The State Permanent School Fund purchased at
par and Int. on July 15 $5,000 of the unsold portion of $12,000 5% 20-40-yr.
(opt.) bldg. bonds, dated April 10 1912 (V. 94, p. 1715). This leaves a
balance of $2,000 bonds to be sold.
BROWN TOWNSHIP, Miami County, Ohlo.-Bond Offering.-Proposals
will be received until 12 in. Aug. 17 by C. L. Berryhill, Township Clerk, for
$1,200 5% coup. road-impt. bonds. Auth. Sec. 3295, Gen. Code. Denom.
5100. Date Aug. 1 1912. Int. F. & A. Due $200 yrly. on Aug. 1 from
1914 to 1919 incl. Cert. check for 5% of bonds bid for, payable to the Twp.
Treas., required. Bonds to be delivered within 5 days from time of award.
BUFFALO. N. V.-Bonds Authorized.-Ordinances have been passed
providing for the issuance of $300,000 20-year school-building and sitepurchase, $300,000 20-year pumping-station-erection and $110,000 25-year
refunding 434% bonds. Date Oct. 1 1912. Int. A. & 0. at the City
Comptroller's office or at the Hanover National Bank of New York, as
purchaser may elect.
Certificate Authorized.-An ordinance was passed providing for the issuance of a $75,000 4% certificate of indebtedness. Date Aug. 1 1912. Int.
semi-ann. at the Comptroller's office. Due July 1 1913.
BURLINGTON, Burlington County, N. J.-Bonds Not Sold.-No award
was made on July 2 of an Issue of $4,000 bonds. The ordinance authorizing
the issue was repealed, we arc advised, on July 16.
BUTLER COUNTY (P. 0. Hamilton). Ohio.-Bond Offering.-Proposals
will be received until 12 m. Aug. 19 by the Bd. of Co. Com., W. W. Crawford, County Aud., for the $50,000 4% coup. court-house re-building bonds
voted May 21 (V. 94, p. 1521). Auth. vote of 4,985 to 3,430. Denom.
$1,000. Date Sept. 1 1912. Int. M. & S. at office of County Treas. Duo
$10,000 yriy. on Sept. 1 from 1920 to 1924 Incl. Cert. check for 5% of
bid required. Purchaser to pay accrued interest.
BUTTE CITY SCHOOL DISTRICT, Glenn County, Cal.-Bonds Voted.
The election held July 10 resulted In favor of the proposition to issue the
$6,000 (not $66,000, as first reported) 8% 8-yr. bldg. bonds (V. 95, p. 65).
The vote was 42 to 0. We are advised that these bonds will be offered for
sale In about three weeks.
BYESVILLE SCHOOL. DISTRICT (P.O. Byesyllle), Guernsey County.
Ohio.-Bond Sale.-On July 23 the $12,000 5% 173-yr. (aver.) coupon
bonds (V. 95, p. 65) were awarded to Seasongood & Mayer of din. for
$12,725 (106.41) and int. Other bids follow:
Hayden,Miller& Co.,Cleve.$12,600 001 Davies-Bertram Co., Cin_512,615 00
First Nat. Bank
.12,689 901New First Nat. Bk., Col__ 12,613 75
Well, Roth & Co., Cin__
12,660 00 First Nat. Bank
12,500 00
249
bonds awarded on Juno 27 to the American Trust Co. for Estabrook & Co.
of N. Y.(V. 95, p. 188) was 100.26
Denom. 51,000. Date July 1 1912.
Int. J. & J.
CHEEKSAWAGA, Erie County, N. Y.-Bond Sale.-On July 24 the
$69,000 5% reg. sewer bonds dated Aug. 1 1912 (V. 95, p. 127) were
awarded to Douglas Fenwick & Co., N. Y., for $70,005 (101.45 and int.).
Other bids follow:
Adams & Co., N. Y
$70,000 Isaac W. Sherrill, PougtCurtis & Sanger, N Y
$69,990
69,9951 keepsie
CHERAW. Chesterfield County, So, Car.-Bond Sale.-On July 18 the
$47,000 water and $30,000 sewerage 5% 20-40-yr.(opt.) coup. bonds (V.95,
p. 127) were awarded to S. A. Kean & Co. of Chicago at 100.25 and int.
CHICAGO, Ill.-Bonds Authorized.-The ordinance providing for the
submission to the voters in November of the question of issuing $1,750,000
public-impt. bonds (V.95, p. 189) was passed by the City Council on July 22.
CHICOPEE, Hampden County, Mass.-Bond Offering.-Proposals will.
be received until 12 m. Aug. 1 by the City Treas. Jas. J. O'Connor 2d.,
for $55,000 4% coup. Valentine and Chapin School bOnds. Denom. 51,000,
Date June 1 1912. Int. J. & D.at the Old Colony Trust Co., Boston. Due
$8,000 June 11913. $6,000 June 1 1914 and 1915 and $5,000 yrly. on June 1
from 1916 to 1922 incl. Bonds will be certified as to genuineness by the
Old Colony Trust Co., which will further certify that, in tile opinion of
Ropes, Gray & Gorham, this issue is a valid obligation of the city.
CHINO GRAMMAR SCHOOL DISTRICT. San Bernardino County, Cal.
-Bond Sale.-An issue of $3,500 school bonds was awarded, it is stated,
to the First Bank of Highlands for $3,550.
CHINO HIGH SCHOOL DISTRICT, San Bernardino County, Cal.Bonds Offered by Bankers.-The W.R.Staats Co. of Pasadena is offering to
Investors $10,000 5% school bonds. Denom. $1,000. Date June 25 1912.
Int. ann. at Co. Treas. office. Due 5!,000 yrly. June 25 from 1913 to 1922
Inclusive.
CINCINNATI, Ohio.-Bonds Authorized.-Ordinances were passed
July 12 providing for the issuance of the following 4% bonds:
$120,500 20-yr. street-impt. (city's portion) bonds, dated Sept. 1 1912.
23,000 20-yr. sewerage (city's portion) bonds.
28,500 20-yr. street-impt. (city's portion) bonds.
3,000 5-yr. coup. workhouse bonds, dated July 15 1912. Int. J.&J.
20,000 10-yr. fire-dept.-Impt. bonds, dated Sept. 1 1912.
Denom. $500 or multiples thereof.
CLAY COUNTY (P. 0. West Point), Miss.-Bond Offering -Proposals
will be received until 2 p. m.Aug.6 by the Bd.of Supervisors, I. J. Howard,
Clerk, for $46,000 Dist. No. 1 and $41,000 Dist. No.3 6% 20-yr. coup. road
bonds. Denom.$500. Int. ann. In Feb. at West Point. Due 1933. Cert.
check for $500, payable to the Bd. of Supervisors, is required. Bonds are
tax-exempt.
CLAY COUNTY (P. 0. Hayesvgle), No. Car.-Bond Sale.-We are advised that this county has disposed of 55,000 6% 10-yr. bonds. Denom.
$500. Date July 1 1912. Int. J. &J.
COLERIDGE, Neb.-Bonds to be Re-voted.-Omaha papers state that
because the notices of election were published in but two issues of the local
paper instead of three, the proposition to issue $8,500 5% 20-yr. coup.
water-works bonds (V. 94, p. 1779) will again be submitted to a vote
on Aug. 5.
COLLINGDA LE, Pa.-Bonds Voted.-Papers report that an election
held July 16 resulted in favor of the propsItion to issue 540,000 30-yr.
general impt. bonds at not exceeding 5% interest.
COLUMBIANA COUNTY (P. 0. Lisbon) Ohio.-Bond Offerings.-Prcposals will be received until 1 p. m. July 29 by the Bd. of Co. Com'rs, H.C.
McCamon, Pres., for $17,248 50 43l% roadbonds. Auth. Sec. 6912-1,
Gen. Code. Denom. (1) $248 50 and (17) $1,000. Date July 1 1912.
Int. ann. In Sept. Due $248 50 Sept. 1 1913 and 51.000 yrly. Sept. 1
from 1914 to 1930 incl. Bonds to be delivered Aug 8 1912. Bids must
be unconditional. Cert. check on a local bank for $500, payable to the
County Treas., required. Bidders will be required to satisfy themselves
as to the legality of the bonds. Purchaser to pay accrued interest.
.
Proposals will be received until 1 p. m. Aug. 5 by the Co. Commrs., P.
R. Walker, Chief Clerk, for the following 4 3% bondS:
$43,430 93 Lisbon & Homeworth Road impt. bonds. Denom.(1) $430 93,
(43) $1,000. Due $1,430 93 Sept. 1 1913, $2,000 yearly on
Sept. 1 from 1914 to 1929, incl., $3,000 on Sept. 1 1930 and
1931 and $4,000 Sept. 1 1932.
12,676 16 Salem & Winona Road impt. bonds. Denom. (1) $676 16,
(12) 51,000. Due $676 16 Sept. 1 1013 and $1,000 yearly on
Sept. 1 from 1914 to 1925, inclusive.
Auth., Sec. 6912-1, Gen. Code
Date Aug. 1 1912. • Int. ann. in Sept.
Cert, check on a local bank for $500, payable to the County Treas., required
with bids for each issue. Bidders will be required to satisfy themselves
of the legality of the bonds. Bonds to be delivered Aug. 14. Purchaser
to.pay accrued interest. Conditional bids not considered.
• and blank bonds.
COLUMBUS, Ohio.-Bonds Authorized.-Ordlnances were passed July 15
• CALUMET COUNTY (P. 0. Chilton), Wis.-Bond Offering.-Proposals providing for the issuance of the following coupon bonds:
will be received until 10 a. m. Aug. 1 by E. G. Hart, Co. Clerk, for $57,000 $13,000 4% Siebert St. Impt. assessment bonds.
16,000 4% Starling St. impt. assessment bonds.
4 X% court-house bonds. Denom. $1,000. Int. ann. on Feb. 1. Due
Tile above bonds are due Sept. 1 1923.
$5,000 yrly. on Feb. 1 from 1914 to 1923 incl. and $7,000 on Feb. 1 1924.
$2,000 4% Lincoln St. impt. assessment bonds.
Each bid for any bond of $1,000 to be accompanied by cert. check for $100,
9,000 4% Eldon St. impt. assessment bonds.
payable to the County Clerk.
7,000 4,
7 20th Ave. Impt. assessment bonds.
CANTON, Stark County, Ohio.-Bonds Authorized.-An ordinance was
1,000 4% Chapel St. impt. assessment bonds.
passed July 8 providing for the issuance of $5,000 4 X % coup. hose-house
1,000
4%
Lazelle St. Impt. assessment bonds.
bonds. Denom. $1,000. Date Sept. 1 1912. Int. M. & S. Due Sept. 1
Duo Sept. 1 1923, subject to call after Sept. 11913.
1922.
4%.street-cleaning-department impt. bonds. Due Sept. 1 1942,
An ordinance was also passed July 15 providing for the issuance of $37,- •545,000
50,000 4% street and highway impt. bonds. Due Sept. 11982.
800 43f% Broadway imp, assess. bonds. Denom. (1) $800, (37) $1,000.
1,000 4 X% alley east of 4th St. Impt. assess. bonds. Due Sept. 1
Date Sept, 1 1912. Int. M. & S. Due $6,000 Sept. 1 1914 and 1915;
1915, subject to call after Sept. 1 1913.
$5,000 yrly. on Sept. 1 from 1910 to 1919 incl. and $5,800 on Sept. 11020.
1,000 4% Donaldson St. impt. assessment bonds, due Sept. 1 1922,
CAPE MAY COUNTY (P.0. Cape May), N. J.-Bond Sale.-On July 16
subject to call after Sept. 1 1913.
the $37,500 4;4% 20-yr. bridge bonds (V. 95, p. 65) were awarded to John
Denom. $1,000. Date of bonds marked (*) not later than Dec. 1 1912:
D. Everitt & Co. of N. Y. at 102 andint.-a basis of about 4.35%. Bids others not later than Dec. 311912. Int. M. & S. at office of the City Treas.
were also received from R. M. Grant & Co., N. Y.; Outwater & Wells, JerCONYERS.
Rockdale County, Ga.-Bonds Voted.-The election held
sey City, and M. M. Freeman & Co., Philadelphia.
July 20 resulted in favor of the proposition to issue the 560,000 5% 30-year
CARROTIIERS SPECIAL SCHOOL DISTRICT (P. 0. Carrothers), water-works and sewerage bonds (V. 94, p. 1716). The vote was 168 to 47.
Seneca County. Ohio.-Bond Offering.-Proposals will be received until
CORDELE. Crisp County, Ga.-Bond Offering.-Proposals will be re2 p. in. Aug. 19 by the Board of Education, D. P. Hunt, Clerk, for $3,000 ceived
until Aug. 21, It is stated, for the $40,000 water-works, $40,000
5% bonds. Auth. Sec. 7626, Gen. Code. Denom. $500. Date "day of street-1mM.,
$10,000 school-Impt. and $5,000 sewer-extension bonds voted
sale." Int. semi-ann. Due $500 yrly. on March 1 from 1914 to 1919 incl.
June 18 (V. 94, p. 1779). Certified check for $500 is required.
CARLINVILLE SCHOOL DISTRICT (P. 0. Carlinville), Macouvin
COSHOCTON COUNTY (P.O. Coshocton), Ohio.-Bond Sale.-On July 6
111.-Price
Paid
County,
for Bonds.-We arc advised that the prIce paid for $25,000 X% 15-7-yr. (ay.) road bonds were
awarded to Seasongood &
the $35,000 4 X% building bonds sold on July 1 to the Carlinville Nat. Mayer of4 Clne.
at 105.08, a basis of about 4.05%. Denom. $500. Date
Bank (V. 94, p. 1640) was par. Denom. $500. Date July 1 1912. Int. Aug. 1 1912. Int.
M.
&
S.
ann. In July. Due $3,500 yrly. July 1 from 1914 to 1923 incl.
CROCKETT COUNTY COMMON SCHOOL DISTRICT NO. 1, Tex.
CAROLINE COUNTY (P. 0. Bowling Green). Va.-Bonds Defeated.- Bonds Awarded in Part.-On July 15 the State
Permanent School Fund
The election held July 23 resulted, it is stated, In the defeat of the pro- purchased at par and Int. $5,000
of the $20,000 5% 5-40-yr. (opt.) bldg.
position to issue the $125,000 road-constr. bonds. (V. 94, p. 1521.)
)
b
pen1d
7s1,6d
dated June 10 1912, 510,000 of which were sold on June 10 (V. 94.
CARTHAGE. SCHOOL DISTRICT (P. 0. Carthage). Mo.-Description
of Bands.-The $10,000 4% building and repair bonds awarded to local inCROSS
PLAINS INDEPENDENT SCHOOL DIURICT (P. 0. Cross
vestors at par on July 1 (V. 95, p. 188) are in the denomination of $500 each
Plains), Callahan County, Tex.-Bonds Awarded 1W Part.-Of the issue
and dated July 1 1912. Int. J. & J. Due July 11017; opt. at any
time. of $12,000 5% 20-40-year (opt.) bldg. bonds registered by the Comptroller
CHAMBERS COUNTY COMMON SCHOOL DISTRICT NO. 3, Tex.
- on July 2 (V. 95, p. 127), $4,000 has been sold to the State Permanent
Bond Sale.-The State Permanent School Fund purchased at
par and int. School Fund at par and interest.
on July 15 the remaining $3,300 of the $6,500 5% 10-40-yr. (opt.) bldg.
CUBA SCHOOL DISTRICT (P.O.Cuba), Fulton County. III.-Bonds Not
bonds (V. 04, p. 1715).
to Be Offered at Present.-We are advised that the $19.000 bldg. bonds
CHANDLERSVILLE SCHOOL DISTRICT (P. 0. Chandlersyille), Musk- June 17 (V. 94, p. 1580) will not be offered for sale before June 1913. voted
Ohio.
County,
-Bond
ingum
Offering.-Proposals will be received until
CUYAHOGA COUNTY (P.O.Cleveland), Ohio.-Bond Sale.-On July 17
Aug. 16 for $1,000 4% 10-yr. bldg. -repair bonds. These bonds were the
two issues of 4 H% coup. Lake Shore Boulevard No. 3 (rapt. bonds, agoffered for sale on July 25 (V.95, p. 188) but, owing to an error In adver- gregating
$28,000 (V.94, p. 1779) were awarded to Tillotson & Wolcott Co.
tising them, they were not sold on that day.
of Cleveland, It is stated.
CHARLE'STOWN SCHOOL DISTRICT (P. 0. Charlestown), Jefferson
COUNTY COMMON SCHOOL DISTRICT NO. 20, Tex.-Bonds
DALLAS
County, W. Va.-Bond Sale.-On July 11 $30,000 (not 56,000 as at first
-On July 19 56,000 5% 20-yr. bonds were registered by the
reported) 5% 10-34-yr. (opt.) bonds (V. 95, p. 65) were awarded for Registered.
State
Comptroller.
$30,000 50 as follows: $500 to C. N. Beard; $500 to W. Denney; $2,500 to
DAVENPORT INDEPENDENT SCHOOL DISTRICT (P. 0. Dawnw. McGarry and $26,500 to Washington, Alexander & Cooke. Date
port), Scott County. lowo.-Bonds Defeated.-An election held July 23
April 1 1911.
resulted in the defeat of the proposition to issue $40,000 manual-training
CHARLOTTE, Mecklenburg County. No. Car.-Price Paid for Bonds.
- high-school-bldg. bonds (V. on, p. 189). The vote was 164 "for" to.
The price paid for the *150,000 strect-impt. and $50,000 water 4 X% 30-yr
1,223 "against."
..... • • • • • • • ", • • • • • • • • •
250
THE CHRONICLE
[VoL. Lxxxxv.
DAVIESS COUNTY (P. 0. Washington). •Ind.-Bond Offering.--ProFRANKLIN, Franklin County, Neb.-Bonds Voted.-An election held
posals will be received, It is stated, by the County Auditor, for $18,000 4% July 2 re.,us.0 In savor of the proposition to Issue
Soldiers' Monument bonds. Date May 15 1912. Int. M. & N. at (opt.) railroad aid bonds. The vote was 197 to 33. $10,000 5% 10-20-yr.
Washington, Ind. Due one bond each six months beginning May 15 1913.
FRESNO,' Fresno County, Cal.-Bond Offering.-Proposals will be reDAYTON, Ohio.-Bond Sale.-On July 19 the following bids were re- ceived until 5 p. a. Aug. 19 by the City Clerk, It Is stated, for the
$45,000
ceived for the six issues of coup. bonds aggregating $98,000 (V. 95, p. 127): 5% municipal impt. bonds voted June 27 (V. 95, p.
66). Denom, $500.
$25,000 $35,000 $5,700 $8,000 $20,400 $3,900 Int. F.
Due $2,000 yearly, except the last bond for $1,000.
issue. issue. issue. issue. issue. issue.
GARDEN GROVE. Decatur County, Iowa.-Bonds Defeated.-The elecBreed & Harrison, Cln_ _ _ 4125,200 $35,304 $5,929 $8,060•$20,553 $4,037
tion held July 16 resulted in defeat of the proposition to Issue the $9,000
Davies-Bertram Co., Cln__ 25,195
5,940 *8,070
*4,047
Stacy & Braun, Tol
35,139 *5,940 8,032 20,444 4,040 water-works bonds (V. 94, p. 1641). The vote was 42 "for" to 141 "agst."
Tillotson&WolcottCo.,Clev. 25,170 .35,329 5,916 8,070 20,522 4,031
GENESEO. N. Y.-Band Sale.-On July 2 $10,000 water-works-impt.
Well, Roth h Co., Cin_
_ 25,157 35,220 5,888 8,050 20,504 4,015 bonds were awarded to Isaac W. Sherrill of Poughkeepsie at 100.11 for
Fifth-Third Nat. Bk.,Cino. 25,152 35,311 5,925 8,052 20,524 4,020 4.60s. Denom. $2.000. Date July 11912. Int, annually in July.
A. E. Auto & Co..
__ 25,140 35,195
GIRARD,Trumbull County, Ohio.-Bond Sale.-On July 22 the $52,500
Hoehler & Cummings,
TeL 25,127 35,182
Cinc_5% 3-yr. (ay.) coup. State St. Impt. assess. bonds (V. 95, p. 66) were
Dayton Sav.&Tr.Co., Day. 25,117 35,225 5,885 8,020 20,460 4,010 awarded, reports
state, to Hayden, Miller ec Co. of Clay. for $53,631, makAtlas Nat. Bank, Cin
25,107 35,161
ing the price 102.15, a basis of about 4.229%.
New First Nat. Bk., Colum. 25,107 35,155
20,469
On July 22 Hayden, Miller & Co. of Clev. were also awarded $24,500 5%
0. E. Denison & Co., Clev_ 25,105 35,157
8,037 20,481
4-yr. (ay.) coup. State
sewer (village's portion) bonds (V. 94, p. 1779)
Hayden, Miller & Co., Clev. 25,082 35,137 5,915 8,033 20,457 4,031 for $25,238 (103.01)-aSt.
basis of about 4.176%, it is stated.
Mayer.Doppo &Walter,Cin _‘
35,322
20,544
GOUVERNEUR. St. Lawrence County, N. Y.-Bond Sale.-On June 18
Central Tr. & S.D.Co.,Cin_
35,178
$8,000 4 3i% street-impt. bonds were awarded to the Gouverneur Say. &
Loan Assn. of Gouverneur at 101.0125-a basis of about 4.30%. Denom.
• These bids, ills said, were successful.
$800. Date Oct. 1 1912. Int. A. ec 0. Duo $800 yearly Oct. 1 1913
DEFIANCE, Shelby County, Iowa.-Bond Offering.-Proposals will be to 1922 incl.
received until 8 p. m. Aug. 5 uy 0. F. Cox, Town Clerk, for the $8,000 5%
GRAND JUNCTION.Colo.-Bond Sale.-Wm.E.Sweet & Co. of Denver
water-works bonds voted June 8 (V. 94, p. 1580). Date Aug. 1 1912. Int.
ann. Duo Aug. 1 1932, optional after Aug. 1 1922. Cert. check for 5% have been awarded at private sale $99,500 6% paving bonds at 99.50.
Denom. $100, $250 and $500. Date Aug. 1 1912.. Int. F. & A. Due
required.
"on or before 12 years."
DEMAREST SCHOOL DISTRICT (P. 0. Demarest), Bergen County,
GRANT SCHOOL DISTRICT (P.O.Chester), Hancock County,IV. Va.N. J.-Bond Sale.-On July 19 the $16,000 5% 19-yr. (aver.) coup. impt.
bonds (V. 95, p. 66) were awarded to the Closter Nat. Bank in Closter at Bids.-The following bids were received on July 20 for the *20,000 5%
101.50 and int.-a basis of about 4.879%. A bid of $16,004 80 was also 10-34-year (opt.) coup. bldg. bonds (V.94, p. 1779):
Mayer, Deppe hi Par and accrued Less $175 for attorneys and other
received from Adams ec Co. of New York.
Walter, Cincin.f interest
expenses. Denom.$500 or $1,000.
DES MOINES, Iowa.-Band Offering.-Proposals will be received until Well, Roth & Co.,1 Par
and accrued Less $175 for attorneys and other
0 a. m.July 31 by H.Susong, City Clerk, for $124,000 5% coup. river-impt.
Cincinnati
j expenses. Denom.$500 or $1,000.
_
Interest
bonds. Denom. $1,000. Int. semi-ann. at the City Treas. office. Due Bumpus & Co.,
Par, accr. Int. audi Will furnish bonds free. Denomi$10,000 in 1913, 1914 and 1915; $12,000 in 1916 and 1917; $13,000 in 1918
Detroit
premium of $511 nation $1,000.
and 1919; $14,000 in 1920 and 1921 and $16,000 in 1922. Cert. check for Seasongood
& IPar, aeon Int. and Subj. to agreement as to allowance
$1,200, payable to the city, is required.
Mayer, Cincin_
premium of $50.
for bond printing & other expenses
DE WITT, Saline County, Neb.-Bond Offertng.-Proposals will be re- Spitzer, Rorick &1
1 Less $480 for bond ptg., atty's fees &
ceived until 1 p. m. Aug. 5 by C. A. Fowler, VII. Clerk, for $21,500 coup.
Co., Toledo
Par
incidental exp. Denom, $500.
water bonds at not exceeding 6% int. Date June 1 1912. Int. ann. at Hayden, Miller & Par and accrued Less $400 for bond ptg., atty's fees &
Co., Cleveland_
First Nat. Bank, Lincoln. Duo June 1 1932, opt. after June 11917. Cert.
interest
j incidental exp. Denotn.$500or$1,000
First Nat, Bank,
cheek for 2% of bonds bid for, payable to the VII. Treas., required.
Chester,W.Va.,
Par,
and)
am.
int.
l No attorney fee or other charges.
SCHOOL
LANSDOWNE
DISTRICT
(P.O. Lansdowne), Delaware
EAST
and MelionNat.
prem. of $156....1 Board to print bonds.
County, Pa.-Band Offering.-Proposals will be received until 12 m. Aug. 2
Bk., Pittsburgh
by Jas'I. Hallowell for $8,800 45-6% coup. school bonds. Denom. $500.
Int. semi-ann. Due in 5 to 20 yrs., opt. after 7 years.
GRATIS SCHOOL DISTRICT. Preble County, Ohlo.-Bond Sale.-The
EASTON. Northampton County. Pa.-Bond Offering.-Proposals will be Security Say. Bank & Trust Co. of Toledo was awarded at $3,561 (101.74)
received until 7:30 p. m. Aug.7 by J. H. Warner, City Clrek, for $45,000 4% an issue of $3,500 5% school-bldg. bonds. Denom. $500. Date June 22
5-30-yr. (opt.) coup. tax-free street-impt. bonds. Denom. $100 and $500. 1912. Int. J. & D. Due $500 yrly. Juno 22 1914 to 1920 incl.
GRAY COUNTY COMMON SCHOOL DISTRICT NO. 7, Texas.-Bond
Date July 1 1912. Int. semi-ann. at the City Treas. office. Cert. check
or 3% of bonds bid for, payable to the City Treas., is required. The bonds Sale.-On July 15 $2,550 5% 20-40-year (opt.) bldg. bonds, dated May 13
will be certified as to their genuineness by the U. S. Mtge. & Trust Co. of 1912, were purchased at par and int. by the State Permanent School Fund.
New York. These bonds were offered but not sold on June 6 (V.93, p.189.) These bonds are part of an issue of $8,500, all of which have now been
EAST TOWN TOWNSHIP,Chester County, Pa.-DescrIption of Bonds.- contracted for. The entire issue was registered by the Comptroller on
The $20,000 4 M% tax-free school bonds purchased by Newburger, Hender- July 16,
son & Loeb of Phila. (V. 94, p. 1522) are dated July 1 1912 and due July 1
GREAT NECK UNION FREE SCHOOL DISTRICT NO. 7, Nassau
1942, opt. $5,000 on July 1 in each of the years.1922, 1932 and 1937. The County, N. Y.-Bond Election.--An election will be held Aug. 5, ills stated,
bonds are being offered to,Investors at prices to yield 4.20%.
to vote on the question of issuing $60,000 high-school bonds.
EAST VIEW SCHOOL DISTRICT, Cuyahoga County, Ohio.-Bond Sale.
GREENSBORO. Guilford County, No. Caro.-Bonds Voted.-The elec-On July 13 the $1,500 4;5% coup. school-bldg. and furnishing bonds tion held July 23 resulted in favor of the propositions to issue $20,000
T. 94, p. 1716) were awaredd to Rodgers & Sons of Chagrin Falls for $1,535 market-house, $15,000 city-hall, $20,000 water and $75,000 street-impt.
30-year bonds (V. 94, p. 1717). We are advised that the bonds will be
(102.33) and int. A bid of par was also received from Otis & Co. of Clev.
EDEN. Hancock County. Me.-Bond Offering.--According to reports, offered shortly.
proposals will be received until 2 p. in. Aug. 10 for $21,000 4% 15-yr. bonds.
GREENVILLE SCHOOL DISTRICT (P. 0. Greenville), Darke County,
ELKHART COUNTY (P.O. Goshen). Ind.-Bonds to Be Offered Shortly. Ohio.-Bond Sale.-On July. 20 the $5,000 4% 6-7-yr. (ser.) coup. bonds
-Reports state that the County Treas. is preparing to sell $38,697 Elkhart (V.95, p. 67) were awarded to the Greenville Nat. Bank and Farmers' Nat.
Bank at par and int. A bid of par less $85 was also received from Spitzer,
Twp. and $61,346 Concord Twp. stone-road bonds.
Rorick & Co. of Toledo.
ELLIS COUNTY (P. 0. Waxahachie), Texas.-Bond Offering.-ProposGREENVILLE SCHOOL DISTRICT NO. 1 (P. 0. Greenville), Mon tcalm
als will bo received until 2 p. tn. Aug. 15 for $73,000 5% 10-40-yr. (opt.)
Road Dist. No. 8 bonds (V. 95, p. 66). Denom. $1,000. Date Aug. 15 County, Mich.-Bond Election Proposed.-Thls district Is contemplating
calling
an election to vote on a proposition to issue $5,000 building bonds.
1912. Int. F. & A. at Austin or at the Nat. Park Bank In N. Y. Cert.
check on a national-bank or trust company for 2% of bonds bid for, payable We are advised, however, that no definite action has yet been taken.
to J. C. Lumpkins, County Judge, Is required. Official circular states
GUIN SCHOOL DISTRICT (P. 0. Guin), Marion County, Ala.-Bonds
Voted.-A favorable vote was cast on July 15, ills stated, on the proposithat there is no litigation or controversy.
ELMDALE SCHOOL DISTRICT. Stanislaus County, Cal.-Bond Offer- tion to issue bonds to erect a high school.
ing.-Proposals will be received until 10 a. m. Aug. 13, it is stated, by the
HAMILTON. Butler County, Ohio.-Bond Offering.-Proposals will be
Bd. of Co. Supervisors at Modesto, for $4,000 6% bonds.
received until 12 m. Aug. 26 by H. A. Grimmer, City And.. for $25,000 4%
EL MODENA SCHOOL DISTRICT, Orange County, Cal.-Bond Sale.-- coup. storm-sewer bonds. Denom. $500. Date Apr. 1 1912. Int. A. &
Cert. check for 5% of bid, payable to the Treas.,
On July 15 the $25,000 5% 1-25-yr. (ser.) school-bldg. bonds (V. 95, p. 66) 0. Due Apr. 1 1927
were awarded to Torrance, Marshall do Co. of Los Angeles at 102.52 and required. Bonds to be delivered within 10 days from time of award.
Purch. to pay accrued interest.
int.-a basis of about 4.739%. Other bids follow:
N. W. Halsey & Co., San Fr_$25,261 I Wm.R.Staats Co., Los A.$25,257 50
HAR DIN COUNTY (P. 0. Kenton), Ohio.-Description of Bonds.-The
ETIWANDA SCHOOL DISTRICT, San Bernardino County, Cal.
- $8,000 43i% 1-8-yr. (ser.) bonds awarded to the Kenton Say. Bank in KenBonds Offered by Bankers.-An issue of $10,000 5% school bonds is being ton at 101.125 (V. 95, p. 189) are In the denotn. of $1,000 each and dated
offered to Investors by tho W. R. Stoats Co. of Pasadena. Denom. $1,000. July 1 1912. Int. J. & J.
Date June 25 1912. Int. ann. at the County Treasurer's office. Due
HARRISBURG, Pa.-Bond Offering.-Proposals will be received until
$1,000 yearly June 25 from 1923 to 1932 incl. Assess. val. $650,655 3 p. in, Aug. 5 by II. W. Gough, City Comptroller, for $154,000 4% coup.
real value $1,000,000. Bonded debt $10,000.
city bonds. Denom. $1,000. Date Sept. 1 1912, Int. M. & S. at Treas.
FALLING SPRING SCHOOL DISTRICT, Greenbrier County, W. Va.- office. Due $22,000 yrly. Sept. 1 1923 to 1929 incl. Cert. °hook or cash for
Bonds Defeated.-An election held June 29 resulted in defeat of the proposi- 2% of bonds bid for, payable to the City Treas., is required. Bonds will be
certified as to genuineness by the U.S. Mtge. & Trust Co. of N. Y. and the
tion to issue $20,000 school-house bonds.
J. G.Johnson of Phila., whose opinion will be furnished
FALL RIVER. Bristol County, Mass.-Bond Offering.-Proposals will legality approved byDelivery
on or about Sept. 2.
be received until 10 a. m. July 30, ills stated,for $50,000 4% street bonds to the purchaser.
dated July 1 1912.
HARRISON,Hamilton County, Ohlo.-Bonds Authortzed.-An ordinance
FARM DALE SCHOOL DISTRICT, Merced County, Cal.-Bond Offering. was passed July 16 providing for the issuance of $1,000 5% coup.State Ave.
-Proposals will be received until 10 a. in. Aug. 6, it is stated, by the Co. Impt. bonds. Denom. $500. Date Oct. 1 1912. Int. ann. Due $500
Oct. 1 1918 and $500 Oct. 11926.
Supervisors (P. 0. Merced) for $3,250 7% bonds.
FINDLAY, Hancock County. Ohio.-Bond Offering.-Proposals will be
HARTWELL. Hamilton County. Ohio.-Bond Offering.-Proposals will
received until 12 in. July 29 by A. B. Crozier, City Aud., for the following be received until 12 In. Aug. 21 by F. J. Spinning, VII. Clerk, for $4,000 5%
Burns Ave. Impt. assess. bonds. Auth. Sec. 3914, Gen. Code. Denom.
4% coupon tax-free bonds:
$6,775 06 Park St. Irnpt. bonds. Denom. (1) $275,06, (13) $500. Due $200. Date Aug. 15 1912. Int. F. & A. Duo $800 yrly. on Aug. 15
$275 06 July 1 1913 and $500 each six months from Jan. 1 1914 from 1913 to 1917 inel. Cert. check for 10% of bonds bid for, payable to
the VII. Treas., required. Purchaser to pay accrued Interest.
to Jan. 1 1920, inclusive.
8,939 40 So. Main St.'runt. bonds (V. 94, p. 1716). Denom. (1) $439 40,
HAVERSTRAW. Rockland County. N. Y.-Bond Offering.-Proposals
(17) $500. Due 3439 40 July 1 1913 and $500 each six months will be received until 2 p. in. Aug. 1 by J. S. Oldfield, Village Clerk, for
from Jan. 1 1914 to Jan. 1 1922, inclusive.
$10.000 coupon sewer bonds at not exceeding 4 14% interest. Denom.
Auth., Sec. 97, Municipal Code. Date July 1 1912. Int. J. & J. at $1,000. Date Sept. 1 1912. Int. ann. at People's Bank of Haverstraw.
office of the City Treas. Cert. check for 3% of. bonds bid for, payable to Due $1,000 yearly on Sept. 1 from 1913 to 1922, Inol. No deposit is rethe City Treas., required. Bonds to be delivered within 10 days from time quired with bids.
of award. Purchaser to pay accrued interest.
HEMET. Riverside County,Cal.-Bond Election.-Aceording to reports,
FOND DU LAC, Fond du Lac County, Wis.-Bonds Authortzed.-On an election will be held Aug. 3 to vote on the question of issuing $44,000
July 19 the issuance of $25,000 water-works bonds was authorized, It is sewer bonds.
stated.
HERMANN, Casconade County, Mo.-Bonds Voted.-Reports state that
FOREST UNION SCHOOL DISTRICT (P. 0. Forest). Hardin County, the proposition to issue $35,000 water-works and sewer bonds carried
by a
Ohlo.-Bond Offering.-Proposals will be received until 1 p. In. Aug. 12 by vote of q38 to 43 at an election held July 20.
Wm. H. Rabberman, Clerk Bd. of Ed., for $2,000 4% bonds. Auth.
•
Sec. 7629, Gen. Code. Denom. $250. Int. semi-ann. Due $250 each six
HILL COUNTY SCHOOL DISTRICT NO. 16 (P. 0. Harve), Mont.
months from Apr. 1 1913 to Oct. 1 1916 incl.
Bond Sale.-On July 15 the following bids were received for the *23,000
FORESTVILLE. Chautauqua County, N. Y.-Bands Not Sold.-Con- bonds offered on that day (V. 95, p. ,7):
For 554s (Concl.).
For 5s.
cerning the reports in some of the papers saying that $12,000 paving bonds
have been sold, we are advised that these securities have not yet been issued, Wells & Dickey Co., Minneap.$23,300 John Nuyeen & Co., Chlo_ __ _$23,256
Carstens & Earies, Seattle__ _ 23,281 Terry, Briggs & Slayton, Tol _ 23,060
nor is it certain that they ever will be.
FORT ATKINSON JOINT SCHOOL DISTRICT NO. 6. Jefferson County. N. W. Halsey & Co., Chic__ _ 23,210 Sutherlin do Co., Kansas City 23,000
For 6s.
Wis.-Bonds Offered by Bankers.-The Wisconsin Trust Co. of Milwaukee Wood's'', MeNear & Moore, 23,108 Wells &
Chicago
Dickey Co., MInneap. 24,480
Is offering to investors $45,000 4 5.i% high-school-bldg. bonds. Date Feb. 1
23,101 Well, Roth & Co., Chicago__ 24,439
C. H. Coffin, Chicago
1912. Due from Feb. 1 1919 to 1927.
For 5;0.
C. H. Coffin, Chicago
24,201
FOWLER TOWNSHIP, Trumbull County, Ohio.-Bond Offering.-Pro- Wells & Dickey Co., Minn_ _ _$23,800 Terry, Briggs & Slayton, Tol_ 23,925
posals will bo received until 8 p. m. Aug. 10 by H. W.Scheidegger, Clerk, Bolger, Mosse( & Willaman.
Chicago
Co.,
23,695
Farson,
ec
Son
road
impt.
bonds. Auth. Sees. 7004 and 7005, Gen, Code.
for $10,000 5%
Chicago
23,742 Ulen & Co., Chicago
23,577
Denom. $500. Date Aug. 1 1912. Int. A. & 0. at the Cortland Bank. Well, Roth & Co., Chicago__ 23,715
S. A. Kean & Co., Chicago
23,494
Due $500 each Six months from Oct. 1 1913 to April 1 1923 incl. Cert. C. H. Coffin. Chicago
23.501
•
check for $500, payable to the Twp. Treas., required. Bidders will be
required to satisfy themselves of the legality of the issue. Total debt, not
HOLLAND SCHOOL DISTRICT (P. 0. Holland), Ottawa County,
Wel. this issue, $7,500. Assessed val., 1911, *1,196,000.
Mich.-Bond OfferIng.-Proposals will be received until 12 m. July 20 by
J tax 27 1912]
THE CHRONICLE
251
OfferLAKESIDE SCHOOL DISTRICT. San Diego County. Cal.-Bond
high-school-building bonds
until 2 p. m.
/L. Geerlings. Secretary, for the $100,000 4%648
to 321. Denom. $1,000. Mg.-Proposals will be received by the Board of Supervisors
voted May 14 (V.04 p. 1522). Auth. vote of yearly
voted June 3, it is stated.
bonds
bldg.
7
for
Aug.
$8,000
the
1913
from
1
July
on
$5,000
Due
Int. J. & J.
Date July 1 1912. '
July 22 $22,000
the Treasurer, required.
LANCASTER, Erie County. N. V.-Bond Sale.-On B.
to 1932, inch Cert. check for $1,000, payable to
Leach & Co.
to A.
Ohlo.-Bond Sale.-On July 22 10-Installment street-paving bonds were awarded
F. & A.
Int.
1912.
1
HOLMES COUNTY (P.O. Millersburg).
Aug.
Date
4.40s.
for
Bridge repair bonds (V. of New York at 100.031
the $2,000 4)% 6 A-year (ay.) coup. Cameron
.-Local
Election
at
-Bond
Millersburg
Colo.
of
Bk.
Say.
&
Durango),
0.
Comm'l
(P.
the
LA PLATA COUNTY
95, p. 128) were awarded to
November
in
received.
papers state that a vote will be taken at the general election
102.615 and int.-a basis of about 4.039%. No other bids were
bonds.
jail-erection
$20,000
to
issue
a
proposition
on
Offering.
HOMESTEAD SCHOOL DISTRICT, Kern County. Cal.-Bond Aug. 6
LA V1NA SCHOOL DISTRICT, Madera County, Cal.-Bond Sale.-On
-Reports state that the County Supervisors will sell at 10 a. m.
July 1 the $2,500 7% school-house bonds (V. 94, p. 1780) were awarded to
an issue of school bonds of this district.
H. Guinn of Petaluma at 101.666, reports state.
J.
$3,200
the
15
July
-On
Sale.
-Bond
111.
County.
HOPEDALE,Tazewell
LAVON INDEPENDENT SCHOOL DISTRICT (P. 0. Lavon). Collin
light bonds voted May 31 (V. 94, p. 1581) were awarded to the Hopedale
County, Tex.-Bond .Sale.-The State Permanent School Fund purchased
National Bank at par.
Howland), at par and int. on July 15 an issue of $3,000 5% 20-40-yr. (opt.) bldg.
HOWLAND INDEPENDENT SCHOOL DISTRICT (P. 0.
received until bonds dated June 10 1912. These bonds are part of an issue of $9,000,
Lamar County, Tex.-Bond Offering.---Proposals will be
equip. the balance of which has been contracted for.
and
bldg.
Aug. 1 by T. F. Justiss, Secy., for $10,000 5% site,
ann.
LAWRENCE COUNTY (P. 0. Lawrenceburg), Tenn.-Bond Election.
bonds (V. 94. p. 1133). Denom. $1,000. Date May 1 1912. Int.
11022.
May
after
optional
1
Local papers state the proposition to issue the $200,000 road-constr. bonds
1952,
May
Due
City.
at Austin or New York
Cert. check for 3%, payable to R. E. Bost, Pres. School Board, required. (V. 94, p. 1076) will be submitted to a vote on Oct. 5.
Assessed val. 1912, $401,530.
LAWRENCE COUNTY (P. 0. Monticello), Miss.-Bond Offering.On July 17 the bonds were registered by the State Comptroller.
Proposals will be received until Aug. 5 by the Board of Supervisors, J. H.
Dauphin
Hummelstown),
Clerk, for $25,000 steel-bridge and $50,000 court-house 5%
Teunisson,
HIUMMELSTOWN SCHOOL DISTRICT (P.O.
coup. 30-year bonds (V. 95, p. 190). Certified check for $1.000 required.
County, Pa.-Bond Sale.-On July 20 the $8,000 4% 1-16-year (ser.)to
the
school-house impt. tax-free bonds (V. 95, p. 190) were awarded
LEHIGH, Webster County, Iowa.-Bonds Voted.-The question of
of
Hummelstown Nat. Bank in Hummeistown at 100.625 and int. A bid
Issuing $20.000 electric-light and water-works plant bonds carried by a vote
par was also received from the Harrisbur Trust Co.
of 260 to 87, It is stated, at an election held July 12.
Huntington),
HUNTINGTON (Town) SCHOOL DISTRICT NO. 12(P.O.
LITTLE RIVER TOWNSHIP. Reno County Kan.-Bands Voted.-A
5% bonds were recent
election resulted in favor of the proposition to issue township-hall
Suffolk County. N. V.-Bond Sale.-On July 13 $5,500
14 from 1914
July
yrly.
$500
Due
101.875.
awarded to Curtis & Sanger at
bonds, according to reports.
to 1924 incl.
LITTLETON. Middlesex County, Mass -Bond Sale.-On July 2 the
-Description
loan bonds (V. 94, p. 1780) were awarded to
HUNTSVILLE SCHOOL DISTRICT. Logan County, Ohio.
& Cum- $15,000 4% coup. electric
100.007.
of Bonds.-Tho $30,000 4 A% bldg. bonds awarded to Hochier
denom. of $500 Biodget & Co. of Boston for $15,001 06, making the price
mings of Tol. on July 6 at 104.29 (V. 95, p.,190) arc in theeach six months
County,
Ohiq.-Bond Offering.-Proposals will
Hamilton
LOCKLAND,
each and dated July 6 1912. Int. M. Fc S. Due $500
be received until 12 m. Aug. 26 by Frank Reed, Village Clerk, for $1,050
from March 1 1914 to Sept. 1 1933 incl.
bonds. Date May 1 1912. Int. M. & N. Due
Jackson 4% Wayne Ave. Impt.
INDEPENDENCE SCHOOL DISTRICT (P. 0. Independence),
Cert. check for 5% of bonds bid for, payable to the Village
18 resulted in a vote May 1 1922.
Bonds to be delivered within 10 days from time of
County, Mo.-Bonds Voted.-An election held June
required.
Treas.,
(opt.)
5-20-year
of 294 to 138 In favor of the proposition to issue $75,000
award. Purchaser to pay accrued interest.
site-purchase and building bonds.
LOCKPORT, Niagara County, N. Y.-Bond Sale.-On July 20 the
hold an elecIOWA CITY. Iowa.-Bond Election.-ThIs city proposes to state.
$14,000 5% registered school-repair bonds (V. 95, p. 190) were awarded to
tion to vote on the Issuance of $20,000 school bonds, reports
Adams & Co. of N. Y.for $14,085 (100.607) and int. Other bids follow:
$14.036 40IFarm.& Mer.S B.,Lookp't_$14,008 34
IREDELL COUNTY (P. 0. Statesville). No. Caro.-Bond Sale.-On J. J. Hart. Albany
July 22 the $150,000 5% 26 2-3-yr. (ay.) road-impt. bonds (V. 95, p. 67)
Sale.
• LODI TOWNSHIP SCHOOL DISTRICT (P. 0. Lodi), N. J.-Bond
were awarded to Mayer, Deppe & Walter of Cinc., according to reports.
school bonds was recently awarded to John
coup.
5%
-An issue of $2,300
Van Bussum at par. Denom. (10) $200 and (1) $300. Date Aug. 1
J.
IRONDEQUOIT (Town) SCHOOL DISTRICT NO. 1. Monroe County,
N. Y.-Bond Offering.-Proposals will be received until 12 m. to-day 1912. Int. F. & A. Due Aug. 1 1922.
(July 27) by Geo. F. Schneeberger. Trustee (854 Powers Bldg., Rochester),
LORAIN, Lorain County, Ohio.-Bond Sale.-On July 22 the $48,000
•
for $5,900 5% site and building bonds.
4;4% 7 A-yr. (ay.) paving bonds (V. 94, p. 1780) were awarded to the
IRVINGTON. Essex County. N. J.-Bond Offering.-Proposals will be Cleveland Trust Co. of Cleveland for $49,507 50, making the price 103.14,
received until 8 p. m. Aug. 5 by M. Stockman, Town Clerk, for $32,500 4% It Is stated, a basis of about 4.011%.
coup. playground bonds. Denom. $1,000. Date Sept. 1 1912. Int.
Bonds Authorized.-An ordinance has been passed.it Is stated, providing
M. & S. Due Sept. 1 1962.
for the issuance of $16,000 street-impt. bonds.
-Proposals
ISANTI COUNTY (P.0: Cambridge), Minn.-Bond Offering.
LOWELL, Middlesex County, Mass.-Bond Offertng.-Proposals will be
will be received until 1 p. in Aug. 2 by G. C. Smith; County Aud., for received until 11 a. m. July 30 by the Treasurer. It is stated. for $63,950
$10,000 5% Ditch No. 10 bonds. Auth. Chap. 230, Laws of 1905, and 4% 1-10-yr. (ser.) municipal bonds.
amendments thereto. Denom. $1,000. Date July 1 1912. Int. J. & J.
McARTHUR. Vinton County. Ohio.-Bonds Authorized.-An ordinance
Due $1,000 yearly on July 1 from 1913 to 1922, incl. Cert, check for $500, was passed July 8 providing for the issuance of the $17.000 4% coupon
)Dayable to the County Treasurer, required. Purchaser to pay accrued street-impt. bonds voted July 2 (V. 95, p. 129). Denom. (12) $500, (11)
on Sept. 15
Interest and also furnish blank bonds.
$1,000. Date Aug.31 1912. Int. ann. Due $500 yearly
-Proposals from
1914 to 1925, incl., and $1,000 yearly on Sept. 15 from 1926 to 1936,
ITAWAMBA COUNTY (P.0. Fulton). Miss.-Bond Offering.
$21,000
for
Clerk
Chancery
the
by
5
Aug.
m.
12
until
inclusive.
will be received
Fourth Sups. Dist. good-road bonds. Denom. $500. Due $500 yearly
McCULLOCH COUNTY COMMON SCHOOL DISTRICT NO. 18, Tex.from 1923 to 1936. Inclusive, and $14,000 In 1937.
Awarded in Part.-The State Permanent School Fund purchased at
Bonds
re24 the $860,000 reg. tax-free
and int. on July 15 $2,300 of the unsold portion of $7,000 5% 10-40-yr.
par
ITHACA. N. Y.-Bond Sale.-On June awarded
& Co. of (opt.)
N.
Coler
W.
to
were
1717)
p.
94.
(V.
bonds
bldg. bonds dated July 10 1911, $2,300 of which has already been
funding water
remaining $273,000 bear- disposed of (V. 94, p. 1718).
N. Y., $587,000 bearing interest at 4.30% and the
ing 4 V,% interest.
McKEE'S ROCKS. Alleghany County. Pa.-Bond Offering.-Proposals
Offering.-Reports state
for
JACKSONVILLE. Duval County. Fla.-Bond bonds (V.03, p. 1738) will be received until 8 p. m. July 29 by J. P. Pastre, Boro. Secy.,
4%
$500,000
the
of
$250,000
remaining
the
$115,000 4.t% coupon funding tax-free bonds. Denom. $1,000. Date
that
will be offered fer sale Oct. 15.
July 15 1912. Int. J. & J. Due $5,000 July 15 1917, $15,000 July 15
1932 and 140,000 July 15 1937.
JOHNSON COUNTY (P. 0. Cleburne), Tex.-Bonds Voted.-The propo- 1922, $25,000 July 15 1927, $30,000 July 15be
taken up on or before Aug. 7.
Cert. check for $2,500 required. Bonds to
sition to issue $75,000 road bonds was recently voted, It is reported.
Jourdan158, 111.-Bond Offering.NO.
0.
(P.
DISTRICT
McLEAN COUNTY SCHOOL
JOURDANTON INDEPENDENT SCHOOL DISTRICT
Clerk
ton), Atascosa County, Tex.-Bonds Awarded in Part.-The State Per- Proposals will be received until 12 m. Aug. 10 by R. C. Vanneman,
manent School Fund purchased at par and int. on July 15 $5,000 of the Bd. of Directors (P. 0. Towanda), for $12,000 5% school bonds. Authoryrly.
$500
follows:
as
1
were
April
on
which
Due
ity, an election held May 11 1912.
$18,500 5% 10-40-yr. bldg. bonds dated June 1 1911, $5,000 of
from 1913 to 1917 incl., $600 yrly. from 1918 to 1922 incl., $800 yrly. from
sold on June 10 (V. 94, p. 1717).
payable
bid,
of
10%
for
check
Cert.
1930.
in
$900
and
incl.
1929
to
- 1923
JULIAN-OBERTIN SCHOOL DISTRICT, San Diego County. Cal.
the Bd. of Directors, required. The purchaser to bear the expense of
Bond Offering.-Proposals will be received until 2 p. in. Aug. 7 by the to
preparing and legal examination.
Board of County Supervisors for $4,000 6% bonds, reports state.
MACON, Oa.-Bonds to Be Offered Shortly.-Local papers of July 24
KENDRICK SCHOOL DISTRICT (P. 0. Kendrick), Latah County,
14 state that the Water Commission will advertise at once for bids for $40,000
Idaho.-Bond Sale.-On June 25 the $15,000 building bonds voted Mayfor
bonds
Denver
of
dc
Co.
Foster
Causey.
to
awarded
(V. 94, p. 1522) were
-Proposals
MADISON. Lac Qui Pane County, Minn.-Bond
$15,025 (100.16) and "all legal papers."
Council for $50,000
be received until 8 p. m. July 30 by the CommonOffering.
KENT COUNTY (P 0. Grand Rapids), Mich -Bond Sale.-We are will electric-lig
144 to 85
of
vote
Auth.
t.
bonds
water-works-imp
and
ht
advised that John Nuveen & Co. of Chicago have been awarded the $200,000 5%
25. Denom. $1,000. Date Aug. 1 1912. Int. F. &
4 A% 20-year tax-free coupon road bonds recently refused by Bolger, at election held June
Minneapolis. Due $2.000 yearly on
Co.,
Trust
&
Loan
Minnesota
at
was
A.
paid
100.75,
price
The
Mosser dc Willaman of Chicago (V. 95, p. 128).
incl., and $10,000 Aug. 1 1942. J. 11. Hayden
accrued int. and blank bonds. Denom. $1,000. Date June 20 1912. Int. Aug 1 from 1922 to 1941,
is City Recorder.
J. & D. at office of John Nuyeen & Co.
-Proposals will be
MARIETTA, Cobb County. Ga.-Bond Offering.City
KANSAS CITY, Kans.-Bond Elect ton.-An election will be held July 30,
Clerk, and J. J
It is stated, to vote on the question of issuing the $150,000 water-works received until 7 p. m. Aug. 5 by W. M. Fleming.
Black, Mayor, for the 120.000 5% coupon public-school-building bonds
bonds (V. 94, p. 1581).
Aug. 1 1912. Int.
Date
$1,000.
Denom.
1462).
p.
94,
(V.
May
voted
15
be
will
KEWANEE. Henry County. 111.-Bond Election.-An election
F. & A. at office of the City Treasurer or at the First National Bank, N. Y.
held Aug. 27, it is reported, to vote on qv Issuance of $12,000 cemetery bds. City. Due Aug. 1 1932. Bids must be for entire lot. Purchaser to furKILGORE INDEPENDENT SCHOOL DISTRICT (P.O. Kilgore), Gregg nish blank bonds.
County. Tex.-Bonds Registered.-An issue of $10,000 5% 20-40-yr. (opt.)
MARION COUNTY (P. 0. Marion), Ohio.-Bond Offering.-In addition
bonds was registered on July 17 by the State Comptroller.
to the $8,900 Rubins Joint Co. Free Turnpike road and $11,400 Emahizer
- Free Turnpike road 5% coup. bonds to be offered for sale on Aug. 3 (V. 94,
Offering.
KING COUNTY SCHOOL DISTRICT NO. 179, Wash.-BondHanna,
Co. p. 190), an issue of $17,000 5% turnpike road bonds will also be offered on
Proposals will ue received until 11 a. m. Aug. 10 by W. H.
Treas. (P. 0. Seattle), for $12,000 coup. school-bldg. and equip. bonds at that day, according to reports. Proposals for these bonds will be received
not exceeding 6% Interest. Auth. election held July 2. Denom. $500. until 12 m. on that day by J. H. Clark, Attorney. Int. semi-annual.
Int. ann. at office of the Co. Treas. or at the Washington fiscal agency in
MARION SCHOOL DISTRICT (P. 0. Marion), Marion Coun,ty Ohio.N. Y. City. Due 10 yrs., opt. after 1 yr. Cert. check for 1% of bonds bid
4 A % 7 A-year (average) coupon bonds
for, payable to tho Co. Treas., required, excepting with bids from the State Bond Sale.-On July 19 the $8,000
of Cincinnati at 103.05
of Washington. Bonds will be ready for delivery Sept. 3. No other debt. (V. 95, p. 129) were awarded to Breed & Harrison
Other bids follow:
4.024%.
about
of
bask
-a
interest
and
Assessed valuation 1911. $423,758.
Mayer, Cin_ _$8,220 001 First Nat. Bank, Cleve_ _$8,212 90
&
Seasongood
Offering.
-Bond
Wash.
KING COUNTY SCHOOL DISTRICT NO. 19,
Well, Roth & Co., Cincin__ 8,220 00 Hayden,Miller&Co..Cleve__ 8,208 00
Proposals will be received until 11 a. in. Aug. 10 by W. H. Hanna, Co. Prov. S. B. & Tr. Co., Cin_ 8,214 40 Mayer,Deppe&Walter.Cin_ 8,196 00
Treas. (P. 0. Seattle), for $2,500 coup. new school bldg. bonds at not exInt.
$500.
ceeding 6% int. Authority election held July 13. Denom.
MARION GRADED SCHOOL 'DISTRICT NO. 27_ (P. 0. Marion),
ann. at office of Co. Treas, or at Washington fiscal agency in N. Y. City. Crittenden County, Ky.-Bond Offering.-The Distil-et Trustees, W. B.
Due 10 yrs., opt. after 1 year. Cert. check or draft for 1% of bonds bid Yandell, Pres., will offer at public sale at 3 p. m. July 29 the $3,000 4%
for, payable to the County Treasurer, required, except with bids from the 1-20-year (opt.) building bonds (V.94, p. 1523). Denom. $500. Int. ann.
State of Washington. Bonds will be ready for delivery Sept.. 3. No
other debt. Assess. val. 1911, $57,770.
MARYSVILLE SCHOOL DISTRICT (P.0. Marysville), Ottawa County,
Ohlo.-Vote.-The vote cast at the election held July 15, which resulted
KIRKWOOD SCHOOL DISTRICT, Warren County, 111.-Bond Election. in the defeat of the question of issuing the $110,000 bonds (V. 95, p. 190).
-An election will be held to-day (July 27) to vote on the question of issuing was 179 "for" to 475 "against."
$12,000 or $15,000 bldg. bonds, reports state.
111.-Bonds Voted.-An election held
MASON CITY, Mason County,
KOOCHICHING COUNTY (P.O. International Falls), Minn.-Bonds Re- July
15 resulted, it is stated, in favor of the proposition to issue $3,500
Awarded.-CoffIn & Crawford and the Commercial Investment Co. were sidewalk
bonds.
awarded at par on July 9 $30,000 4% 10-yr. and $50,000 4 A% 20-yr. refunding bonds. Denom. $1,000. Date July 1 1912. Int. J. & J. These
MATAGORDA COUNTY COMMON SCHOOL DISTRICT NO. 3, Tex.securities were awarded on April 30 to Coffin dc Crawford of Chic. (V. 94, Bond Sale.-On July 15 the State Permanent School Fund purchased at
p. 1340). but, owing to an error In the original proceedings, they had to be par and int. the remaining $3,000 of the $6,000 5% 10-20-yr. (opt.) bldg.
re-advertised.
bonds dated Feb. 15 1912. (V. 94, p. 1718.)
LAKELAND, Polk County, Fla.-Bond O(fering.-Proposals will be
25 the $3,500
MEDINA, Medina County. Ohio.-Bond Sale.-On July
received until Aug. 12 by the Board of Bond Trustees for $150,000 5% 5%
2-8-year (ser.) coup. water-works-impt. bonds (V. 95. p. 129) were
sewerage, street-paving and public-building bonds. Denom. $1,000. awarded
and int.-a
(103.235)
25
of
for
$3,613
Seville
Rohrer
H.
S.
to
1)ate March 1 1912. Int. M. & S. Due $10,000 yearly on March 1 from
about 4.275%. Other bids follow:
1922 to 1936, Incl. Cert. check for $1,000, payable to the Board of Bond basis&ofCo.,
Mayer, Cin-$3,593 00
&
$3,607
Cleveland
00ISeasongood
Otis
of
have
been
rulings
the
validated under
Trustees, required. These bonds
3,602 95 Old Phoenix Nat. Bank,
& Co., Col
the Circuit Court of the Tenth Judicial Circuit. A similar issue of bonds Barto, Scott
3,577 70
Medina
Hayden, Miller & Co., elev. 3,601 00
was sold to Parson, Son & Co. of Chicago on April 15. See V.94, p. 1266.
252
THE CHRONICLE
[VoL. locxxxv.
MEWS TOWNSHIP SCHOOL DISTRICT (P. 0. Peebles),
City Treas., is required. Upon notice of allotment to purchaser,
County, Ohio.-Bond Offering.-Proposals will be received until 1Adams
a further
p. m. deposit of 4% is required.
Aug. 2 by A. B. Haines, Township Clerk, for the $1,000 5%
bldg.
bonds voted May 28 (V. 94, p. 1581). Auth., Sec. 7625, 7626coup.
The
official
notice
of
this
bond
and 7627,
offering will be found among the advertiseGen. Code. Denom. 1200. Date Sept. 1 1912. Int.
,S: S. at the ments elsewhere in this Department.
Treas. office. Due $200 yrly. Sept. 1 1913 to 1917 incl. M.
'Cert. check for
NORMAL HEIGHTS SCHOOL DISTRICT. Los Angeles
5% of bid is required.
County, Cal.
Bond Offering.-Proposals will be received until 2 p. m.
Aug. 7, it is stated,
MERCER COUNTY (P. 0. Celina), Ohio.-Maturity of Bonds.-The by the Board of County Supervisors
for $10,000 6% bonds.
maturity of the $35,000 4
coupon Wabash Ditch impt. No. 541 bonds
NORTH PELHAM, Westchester County, N. Y.-Bond Offering.
to be offered on Aug. 6 (V. 95, p. 190) Is $6,000 Sept. 1
$7,000 Sept. 1
-Prowill be received until 8 p. m.July 31 by the Vii.
in 1914, 1915 and 1916, and $8,000 Sept. 1 1917, and1913,
not ;7,000 yearly posals
J. W.Stone,
VII. Clerk, for $28,000 reg. street-impt. bonds at notBoard,
from 1913 to 1917. as reported in last week's "Chronicle.
5% lot.
Denom. $1,120. Date Aug. 1 1912. Int. F. & A. exceeding
Due
$1,120 yrly.
MIDDLETOWN, Orange County, N. Y.-Bond Sale.-On July 22 the on Aug. 1 from 1917 to 1941 incl. Cert.
check on a State bank national
$17,000 4
10-yr. reg. school bonds (V. 95, p. 190) were awarded to bank or trust company of this State for $500,
payable to the Village, reR. M. Grant & Co. of N. Y. at 101.683 and int.-a basis of about
quired. Bonds to be delivered within 10 days from time
4.29%.
of award.
Other bids follow:
NORTH WILDWOOD (P. 0. Anglesea), N. J.-Bonds Not Sold.-No
A.J. Hornbeck, Middletown•102
E. H. Rollins & Sons, Bos_101.05
award has been made of the $60,000 street7Impt.
Ferris & White, N Y
101.211 Harris, Forbes & Co., N.Y.100.892
bonds
offered
on July 2
(V. 94, p, 1781).
Middletown Say. Bk., Midd_101.21 Curtis & Sanger, N. Y......100.712
Adams ec Co., N. Y
101.117 A. B. Leach & Co., N. Y_ _100.577
NORTH WILKESBORO, Wilkes County, No. Caro.-Bond Sale.-We
Farson, Son & Co., N. Y__100.05882 are advised that the New First Nat. Bank of Col. was awarded
at 102 and
• For $3,000 bonds.
Int. on April 23 $10,000 6% 30-yr. school-bldg. bonds. Denom.
$1,000.
Date May 1 1912. Int. J. & J.
MIDDLETOWN. Butler County. Ohio.-Bond Offering.-Proposals will
be received until 12 m. Aug. 22 by Walter Gibbins, City Aud.,for
NOTTI NOB AM Cuyahoga County Ohio.-Bond Offering.-Proposals
$14,738
20
4;•6% Baltimore St. paving assessment bonds. Auth. Sec. 3812,
Gen. will be received until 12 m. Aug. 19 tiy J. C. Stelneeke, Village Clerk, for
Code. Denom.(10) $473 82, (20) $500. Date Aug. 11912. Int.
&A. $3,506 70 4 A% Sackett Ave. (village's portion) impt. bonds. Denom.
at the National Park Bank, rf. Y. City. Due $1,473 82 yearly onF.
Aug.
1 (1) $506 70, (6) $500. Date July 11912. Int. M. & N. Due $500 yearly
from 1913 to 1922, incl. Cert. ohock for $300 required. Bonds
to be on May 1 from 1915 to 1920, incl., and $506 70 May 11921, Cert. check for
delivered within 10 days from time of award.
5% of bonds bid for, payable to the Village Treas. reqaired. Bonds to be
delivered within 10 days from time of award. Purchaser
MILAM COUNTY COMMON SCHOOL DISTRICT NO.
'
to pay accr. Int.
Tex.-Bond
Bond Sale.-On July 20 the $27,000 90 434% coup, water-assess. bonds
Sale.-The State Permanent School Fund purchased at 44,
par on July 15 (V.
94, p. 1642) were awarded to Stacy & Braun of Toledo for $27,503 31
the remaining $3,400 of the $6,800 5% bldg. bonds (V. 94, p. 1718).
Date (101.86) and Int.
April 10 1912. Due 40 yre., opt. one bond yearly.
OAKWOOD SCHOOL DISTRICT, Montgomery County, Ohlo.-Bond
MT. CLEMENS. Mich.-Bond Election.-An election will be held Aug. 7
question
the
vote
on
of issuing $50,000 sewer and $7,100 park 5% bonds. Sale.-On July 13 the $15,000 4% 5-19-year (serial) bonds (V. 95, p. 68)
to
were awarded to the Dayton Savings & Trust Co. of Dayton at 100.30, it is
MT. PLEASANT SCHOOL DISTRICT (P. 0. Mt. Pleasant), Jefferson
County, Ohlo.-Bond Offering.-Proposals will be received until 12 m. stated.
Aug. 20 by F. D. Ring, Clerk Board of Ed., for $2,400
OLEANDER SCHOOL DISTRICT, Fresno County, Cal.-Bonds Decoup, funding
tax-free bonds. Auth. Sec. 5656 and 5658, Gen. Code. 5%
-An election held July 16 resulted in defeat of the proposition to
Denom. (1) $400, feated.
issue $2,500 bldg. bonds.
(4) $500. Date Aug. 20 1912. Int. F. & A. In Mt. Pleasant. Due
Aug. 20 1915 and $500 yearly on Aug. 20 from 1916 to 1919 incl. $400
OMAHA, Neb.-Bond Election Proposed.-This city Is considering the
Cert.
check for 10% of bonds bid for, payable to the Board of Education,
re- matter of submitting to the voters at the general election In November
quired. Purchaser to pay accrued interest. No other debt.
a proposition to issue $100,000 fire-dept. bonds. We are advised,
however, that no definite action has yet been taken.
MOBILE, Ala.-Bonds Refused.-The First Nat. Bank of Cleveland
N%
refused the $60,000 5% 30-year sewer bonds awarded to them on Junehas
ORANGE COUNTY (P. 0. Orlando), Fla.-Bonds Voted.-AceordIng to
10
(V. 94, p. 1642), according to reports.
reports, the election held in the Sanford District on July 13 resulted
in
MONROE Monroe County, Mich.-Bond Sales.-The B. Dausard & favor of the question of issuing $200,000 road-constr. bonds.
Sons Statebank In Monroe was awarded on July 1 the $15,000 4.5•6%
ORANGE COUNTY (P. 0. Orange), Tex.-Bonds Defeated.-We are
6.8-year (ay.) tax-free paying bonds (V. 94, p. 1642) for $15,155 (101.103) now advised that the election
held recently to vote on the proposition to
and blank bonds and the $6,000 4% tax-free paving bonds (V.94, p. 1642) issue the $30,000 drainage bonds
resulted In the defeat of the same and not
at par and blank bonds.
in favor, as reported in V. 94, p. 1523.
MORAN INDEPENDENT SCHOOL DISTRICT (P. 0. Moran),•ShackelORLEANS COUNTY (P. 0. Albion), N. V.-Bond Sale.-On July 24 the
ford County. Tex.-Bond Sale.-On July 15 the State Permanent School $21,750 5% 6-year road bonds (V. 95, p. 191) were awarded to
Adams &
Fund purchased at par and Int. the remaining $5,000 of the $10,000 5% Co. of N. Y. at 103-a basis of about 4.425%. Other bids
10-40-yr. (opt.) bldg. bonds (V.94, p. 1719). Date March 1 1912.
Douglas Fenwick & Co., N.Y.102.91 John J. Hart, Albanyfollow: 102.69
A.
B.
Leach
&
Co., N. Y_ _102.911 Harris, Forbes & Co., N. Y 102.091
MORROW C9UNTY (P. 0. Mt. Gilead), Ohlo.-Bonds Proposed.-Thls
R. M. Grant & Co., N. Y__ _ _102.81 Farson, Son & Co., II. Y.._.._101.747
county, according to reports, proposes to issue township bonds aggregating
E. H. Rollins & Sons, N. Y _ _102.755
$30,900.
OSWEGO COUNTY (P. 0. Oswego), N. V.-Bond Sale.-On July 15
MUNSON TOWNSHIP SCHOOL DISTRICT (P. 0. Chardon, R. F. D.
$24,000 5% bonds were awarded, $12,000, due Mob. 11913, to the Oswego
No. 5), Ohio.-Bond Sale.-On July 18 $6,000 4 % 1-10-year (serial)•
bonds were awarded to Otis & Co. of Cleveland for $6,076, making the Co. Say. Bank at 100.03, and $12,000, due Mch. 1 1914, to Adams & Co.
of N. Y. at 100.80. Denom. $1,000. Date July 1 1912. Int. M. Fe S.
price 101.266. Other bids follow:
Hayden, Miller & Co., Cleve_ _$6,033( First Nat. Bank, Chardon_ _26,000
OTTAWA COUNTY (P. 0. Port Clinton), Okla.-Bond Election.-An
Spitzer, Rorick I% Co., Toledo_ 6,0111
election will be held Aug. 15, it is stated, to vote on the question of issuing
Denom. $300. Date July 1 1912. Interest A. & 0.
$60,000 bridge bonds.
MUSCATINE SCHOOL DISTRICT (P.0. Muscatine), Muscatine County,
OWATONNA, Steele County, Minn.-Bond Offering.-Proposals will be
lowa.-Bond Sate.-We are advised that an issue of $15,000 school
bonds received until 8 p. m. Aug. 6 by C. J. Servatius, City Clerk, for $20,000
has been awarded to the First Trust & Savings Bank of Muscatine.
4% paving bonds. Denom. $1,000. Date Sept. 11912. Int. M. &S.
NASHVILLE, Berriem County, Ga.-Bonds Voted.-An election held Due 20 years. Cert. check for 5% of bonds required.
July 16 resulted, it is reported, in favor of propositions to issue $12,000
OXNARD, Ventura County, Cal.-Bond Offering.-Proposals will be
sewerage and $3,000 school bonds.
received until 8 p. m. Aug. 27 by G. R. Bellah, City Clerk, for $100,000 5%
gold water-works bonds.
NAVARRO COUNTY COMMON SCHOOL DISTRICT NO. 73, Tex.
- at the City Treas. office.Denom. $500. Date May 1 1912. Int. M. & N.
Due $4,000 yrly. May 1 1922 to 1946 incl.
Bonds Awarded in Part.-Of the issue of $6,000 5% 15-40-yr. (opt.) bldg.
bonds registered by the Comptroller on Juno 20 (V. 95, p. 68), $3,000 have Certified or cashier's check on a bank In Cal. for 5% of bonds bid for, payable to the City Clerk, Is required. Porch, to pay accrued interest.
been sold to the State Permanent School Fund at par and int.
PARK COUNTY SCHOOL DISTRICT NO. 2(P.O. Powell), Wyo.-Bond
NEBRASKA.-Bonds Purchased by State.-During June the State purOffering Postponed.-We are advised by the Clerk that,
chased the following five issues of bonds aggregating $64,000:
owing to errors
found
In the first election, it will be necessary to re-authorize at
Place Issuing Bonas. Amt. Int. Purpose.
a new
Dale.
Due.
Opt.
Ogalaila (Village)
$3,000 I
Light Aug. 1 1911 Aug. 11931-1021 election the $11,500 20-year coup. building bonds advertised to be sold
Ballevue (Village)
20,000 5
Water Mch. 1 1912 Mch. 1 1932-1917 July 30 (V. 95, p. 68); hence the bond offering has been indefinitely
postponed.
Keya Pahi County
16,000 5
Bridge June 1 1911 June 1 1931
Boyd Co. S. D. No. 17 5,000 44
PASADENA, Cal.-Bond Offering.-Proposals will be received until
Mch. 15 1912 Bich. 15 1932-1917
North Platte (City)
20,000 5
Water Oct. 1 1900 Oct. 1 1920-1914 10 a. m. Aug. 27 by H. Dyer, City Clerk, it is stated, for the $1,250,000
The price paid was par, witk tke exception of the $20,000 North Platte 4 Y6% bonds voted on June 27 for the purchase of local water plants (V. 95,
p. 68). Denom. $1,000. Int. from Oct. 1 1912, payable A. & 0. Due
issue, which was purchased on a 43.% basis.
$50,000 yearly, beginning Oct. 1 1917. Cert. cheek on a bank In Pasadena
NETHER PROVIDENCE TOWNSHIP, Delaware County, Pa.-Bond
Offering.-Proposals will be received until 12 m. Aug. 3 by J. S. Rodgers or Los Angeles for 2% of bonds bid for, payable to the City Clerk, required.
PAULDING, Paulding County, Ohio.-Bonds Voted.-An election held
(P. 0. Wallingford) for $31,000 4;i% coupon bonds. Denom. $1,000.
Int. semi-ann. Due 30 years, opt. after 3 years. Debt, $1,600. Assessed July 23 resulted in favor of the proposition to issue $30,000 water and light
bonds. The vote was 248 to 65.
valuation, $1,800,000.
PENELOPE INDEPENDENT SCHOOL DISTRICT (P. 0. Penelope),
NEW BRITAIN, Hartford County, Conn.-Bond Offering.-Proposals
will be received until July 31, it 14 stated, by the Treasurer for *60,000 4% Hill County, Tex.-Bond Sale.-On July 15 $2,500 5% 5-40-yr. (opt.)
bldg. bonds dated June 1 1912 were purchased by the State Permanent
1-30-yr. (ser.) subway bonds. Int. semi-ann.
School Fund at par and int.
NEW MEXICO.-Bond Sale.-On July 15 the $200,000 6% 1-5-year
PENN VAN SCHOOL DISTRICT NO.1 (P.0. Penn Van). Yates County,
(serial) coupon deficit-loan bonds(V.95, p. 129) were awarded to the Harris
Trust & Savings Bank of Chicago at 103.625 and interest-a basis of about N. Y.-Bond Offering.-Proposals will be received until 8 p. m. Aug. 5 by
N. W. Palmer, Sec. Bd. of Ed., for the $25,000 4 ki% 1-25-yr. (ser.) reg.
4.70%. Other bids follow:
Wm.A.Read&Co.,Chle_ _2207,230 00 Causey,Foster&Co.,Den.•2204,680 00 bldg. bonds voted June 10 (V.94, p. 1644). Denom. $1000., Date Aug. 1
Hoehler&Cummings.Tol_ 206,151 00 Breed & Harrison, Cin __ 204,520 00 1912. Int. ann. in Dec. at Penn Yan. Cert. check for $1,000, payable to
W. N. Color & Co., N.T.1206.149 00 New First Nat. Bk., Col_ 204,220 00 J. A. Underwood, Treas., Is required. Purchaser to pay accrued int.
Wm.R.ComptonCo.,St.1.1
Nat. City Bank, N. Y._ 201,146 00
PHEBA. Clay County, Miss.-Bond Sale.-On July 15 the $4,000 8%
Sutherlin & Co., Kan. Cy 205,900 00 Mayer,Deppe&Walter,Cin 204,050 00
20-yr. Clay Co. Agricultural High School dormitory bonds (V. 94, p. 1719)
S. A. Kean & Co., Chic, __•205,800 00 Farson, Son ec Co., Chic _ 204.044 00 were awarded to A. J. McMahan of Okla. City at 100.025
and int. Denom.
Kelly ec Kelly, Kan. Cy_ 205,600 00 First Nat. Bank, Cleve__ 203,121 90 $500. Date July 15 1912. Int. annually in July.
Fisk & Robinson, N. Y__ 205,565 00 Otis & Co., Cleveland_ _ _ 202.000 00
PICKAWAV COUNTY (P. 0. Circleville). Ohio.-Bond Offoring.-ProN.W.Halscy &Co.,Chlo__ 205,160 00 E.H.Rollins&Sons,Deny. 200,250 00 posals
until 12 m. Aug. 1 by J. H Dodd, Co. Aud., for
N. Y. Life Ins. Co., N.Y_ 204,880 001 Warren N. Bk., Warren.. 200,250 00 $17,860will be received
4% funding bonds. Auth. Sec. 5656, Gen. Code. Denom. (1)
$860,
(17)
Aug. 1 1912. Int. M. & S. Due $1,000
$1,000.
Date
And blank bonds.
on Sept. 1 from 1013 to 1929 incl. and $860 on Sept. 11930. Cert. yearly
cheek
The following were also received: Payne & Becker, St. Louis, bid par for or certf, of deposit
cash) on a Plckaway County bank for $300, payable
(or
$3,000 and 102.25 for $2,000; R. E. Drake, Ishpeming, bid for $2,000 at a to the County Aud., required. Bonds
to be delivered within 10 days from
premium to net 5%; E. D. Barker, Colo. Spgs., bid par for $500; S. B. time of award.
Harter, Loveland, bid par for 37,000; and Kelly & Kelly, In addition to
POMEROY SCHOOL DISTRICT (P. 0. Pomeroy), Ohio.-Bonds Protheir bid above, also offered 103.38 for $160.000 due In 1914, 1915, 1916
and 1917; 104.38 for $120,000 due In 1915, 1916 and 1917, and 104.61 for pojed.-Thls district will Issue $40,000 high-school-building bonds. We
are advised, however, that it is impossible to give any definite information
280,000 due in 1916 and 1917.
concerning the bond issue, as the location for the building has not been
NILES, Trumbull County, Ohio.-Bond Offering.-Proposals will be decided upon.
received until 2 p. m. Aug. 22 by the City Auditor for the following bonds:
PORTAGE COUNTY (P. 0. Ravenna). Ohlo.-Bond Sale.-On July 22
$18,000 43-'% No. Main St. impt. assess. bonds. Denom. $500. Due
$3,500 yrly. on Sept. 1 from 1913 to 1916 Incl. and $4,000 the $15,000 4% 6-year (average) coupon road bonds (V. 95, p. 68) were
awarded to the Ravenna Nat. Bank in Ravenna at 102.22 and int.-a basis
on Sept. 1 1917..
13,635 4% So. Main St. Imps. assess. bonds. Denom. (I) $135, (27) of about 3.586%. Other bids follow:
215,000
$500. Due $2,500 yrly. on Sept. 1 from 1913 to 1915 incl., First Nat. Bk. GarretsvIlle_ _$15,277 Otis & Co., leveland
Provident S. B.
. & Tr. Co.,Cin 15,010 Second Nat.
'Bank, Ravenna.. 15,000
$3,000 Sept. 1 1916 and $3,135 Sept. 1 1917.
4,500 5% No. Main St. paving, So. Main St. paving and Hoiford St. New First Nat. Bk., Colum__ 15,002 Tillotson&WoloottCo.,Cleve_ 15,000
Hayden,
Miller
15,000
Cleve_
Co.,
Nat.
&
First
Bank,
Cleve.(conditIonal)
sewer (city's portion) bonds. Denom. $500. Due $2,000
Sept. 1 1930 and $2,500 Sept. 1 1931.
PORTAGE TOWNSHIP, Houghton County, Mich.-Bonds to Be Offered
Date Sept. 1 1912. Int. M. & S. Cert. check for 2% of bonds bid for, Shortly.-According to reports the $25,000 road bonds voted April 1
payable to the City Treas., required. Bonds to be delivered within 10 (V. 94, p. 1077) will shortly be offered for sale.
days from time of award. Purchaser to pay accrued interest.
PORT ARTHUR INDEPENDENT SCHOOL DISTRICT (P. 0. Port
NORFOLK, Va.-Bond Offering.-Proposals will be received until 12 m. Arthur),
Jefferson County, Tex.-Bonds Registered.-The State Comptroller
Sept. 12 by B. G. Tunstall, City Treas., for $345,000 appropriation, $20,000 registered on July 18 the ;35,000 5% 10-40-yr. (opt.)
bonds sold recently
school, $8,000 Series "A" and $248,000 Series "B" Ninth Ward impt. and (V. 94, p. 1782).
$214,000 Tenth Ward Impt. 434% 30-yr. coup. (with priy. of reg.) bonds,
PORTLAND. Ore.-Bond Offering.-Proposals will be received until
Denom. $1,000. Date Sept. I 1912, Int. 11. & S. in Norfolk. Cert. 2 p. m. Aug. 26 by F. W. Mulkey, Chair. Corn, of Pub. Docks, for $1,500,000 4% gold dock bonds. Denorn. $1,000. Date Sept. 1 1912. Int.
check on a State or nat. bank for 1% of amount bid for, payable to the M. & S. at office
of the City Treas. or at the Portland fiscal agency In N. Y.
JULY 27 19121
THE CHRONICLE
253
SUPERIOR. Douglas County, Wis.-Bond Offering.-Proposals will be
My. Due Sept. 1 1962, subject to call after Sept. 1 1942. Cert. or Cashfor *19.000 4% sewer
ier's check on a Portland bank for 5% of bonds bid for, payable to the received until 12 m. Aug. 5 by the City Comptroller,
as
except
Authority Chap. 124, Laws of Wisconsin for 1891, and Secs.
bonds.
be
to
unconditional
Bids
required.
Ohair. of the Dock Corn.,
926-11, 942 and 943 of Wisconsin Statutes of 1898. Date July 1 1912.
to legality of bonds.
Int. J. & J. at the City Treas. office. Due 1932. Cert. check for $500
POTSDAM, St. Lawrence County. N. Y.-Bonds Voted.-An election required. R. E. McKeag-ue is City Clerk. A similar issue of bonds was
held July 16 resulted in favor of the proposition to Issue $25,000 4% bonds. offered for sale on July 15 (V. 95, p. 130).
inclusive.
1941,
yearly
from
to
$1,000
1917
Due
The vote was 228 to 123.
SWEET GRASS COUNTY SCHOOL DISTRICT NO. 6, Mont.-Bond
RICH HILL SCHOOL DISTRICT NO. 68 (P. 0. White Stone). Spartan- Sale.-On July 22 $3,000 6% 10-15-yr. (opt.) bldg. bonds were awarded
burg County, So. Caro.-Bonds Voted.-An election held July 20 resulted to the State of Washington at 111.25. Other bids received were as follows:
bonds.
$5,000
20-year
school-building
6%
issue
to
proposition
in favor of the
par
Causey, Foster & Co., Denver_100.20'Union Bank, Helena
The vote was 37 to 0. Bonds will be sold at private sale.
Denom. $1,000. Date Sept. 1 1912. Int. J. & J.
PRINCETON SCHOOL DISTRICT, Gibson County, Ind.-Bond Sale.received,
be
TAFT, Kern County, Cal.-Bond Offering.-Proposals will
On July 16 $60,000 4% high-school bonds were awarded to the American It is reported,
until 8 p. in. Aug. 19 by the Clerk, for the $25,000 6% sewer
Nat. Bank of Princeton for $60,505 (100.841) and int. Denom. $500. bonds recently authorized (V. 95, p. 69).
Date Aug. 1 1912. Int. F. & A.
COMMON SCHOOL DISTRICT NO. 5, Tex.-Bonds
COUNTY
TAYLOR
ROCHESTER. N. Y.-Note Sale.-On July 25 the $300,000 local-impt. Awarded in Part.-The State Permanent School Fund purchased at par
and $24,000 park-impt. 8 months' notes (V. 95, p. 191) were awarded to and int. on July 15 $2,275 of the unsold portion of $7,000 5% 40-year buildif. Lee Anstey of N. Y.for $324,050 (100.015) for 4.50s. Other bids follow: ipn.g1b7o2n1d)
s dated June 1 1912, $2,275 of which were sold on June 10 (V. 94.
Union Trust Co., New York
$324,000 for 4 ;48.
Bond & Goodwin, New York
324,000 for 4.625s.
TOM GREEN COUNTY COMMON SCHOOL DISTRICT NO. 5, Texas.
f 50,000 for 4.598 $50,000 for 4.64s:
Irving National Exchange Bank,' 50,000 for 4.69s 50,000 for 4.74s: Bond Sale.-On July 15 the State Permanent School Fund purchased at par
of
$3,500
5%
building
bonds,
$7,000
the
of
$3,500
the
int.
and
4.84s;
remaining
for
New York
50,000 for 4.79s 50,000
which were sold on June 10 (V. 94, p. 1721). Date June 10 1912. DueI. 24,000 for 4.87s $24,003 for 4.758, 40
years, optional one every 2 years.
Ferris & White, New York
300,030 for 4.75s;
Goldman, Sachs & Co., New York
324,000 for 3.875s.
TRINITY COUNTY COMMON SCHOOL DISTRICT NO. 2. Tex.-Bond
Luther Robbins, Rochester
200,000 for 4.95s.
Sale.-The State Permanent School Fund purchased at par and int. on
Note Offering.-Sealed bids will be received at the office of E.S. Osborne, July 15 the $1,500 5% 10-20-year (opt.) building bonds registered by the
Comptroller, until 2 p. m. July 30 for $539,000 water-works-impt. and State Comptroller on June 18 (V. 94, p. 1782). Date Feb. 16 1912.
$10,000 park-impt. notes, payable 8 mos. from Aug. 5 1912. They will be
TULLAHOMA, Coffee County, Tenn.-Bond Sale.-On July 20 the
drawn with interest and made payable at the Union Trust Co. of New York. 525,000
5% 5-20-yr. (opt.) coupon-sewer bonds (V. 95. p. 69) were purBidder to designate rate of int. and state denomination of notes.
chased by the II. C. Speer & Sons Co. of Chicago.
ROWLESBURG. Preston County, W. Va.-Bonds Voted.-An election
UNION COUNTY (P. 0. Marysville), Ohio.-Bond Sale.-On July 20
held July 6 resulted in favor of the proposition to issue $9,000 water and the $13,000 5% 2 3d-year
(ay.) coupon road building Series "A" bonds
$2,000 sewerage 5% bonds. •Thc vote was 124 to 16. Due $1,000 yearly (V. 95, p. 130) were awarded to the Union Banking Co. of Marysville at
for 11 years.
102.10, it is stated.
ROXBORO, Person County. No. Car.-Bond Sale.-AccordIng to reports,
UPPER SANDUSKY SCHOOL DISTRICT, Wyandot County, Ohio.
this town has disposed of $22,500 street-impt. bonds.
Bond Sale.-On July 20 the $2,500 5% 5-year (ay.) school-building bonds
- (V. 95, p. 69) were awarded to the Citizens' Say. Bank of Upper Sandusky
SABINA SCHOOL DISTRICT (P. 0. Sabina). Clinton County. Ohio.
Bond Sale.-On July 18 the $5,000 4 %% 14-year (average) bonds (V. 95, at 104.072-a basis of about 4.09%, reports state.
p. 130) were awarded to the Davies-Bertram Co. of Cincinnati at 104.50
Lowndes County, Ga.-Bonds Voted.-Reports state that
and int.-a basis of about 4.076%. Denotn. $500. Date July 18 1912. an VALDOSTA,
election held July 23 resulted in favor of the propositions to issue $55,000
Interest semi-annual.
water-works, $25,000 paving, $15,000 sewerage-extension and $5,000
ST. GEORGE, Dorchester County, So. Caro.-Bond Offering.-Proposals cemetery bonds. (V. 94, p. 1563.)
will be received until 12 m. Aug. 22 by J. S. Hutto, Secy. Bd. of Comm'rs,
VISALIA SCHOOL DISTRICT, Tulare County, Cal.-Bond Offering.
for $18,000 5% 20-40-year (opt.) water-works-system bonds. Denom. Proposals
will be received until 10 a. m. Aug. 5 by the Board of Supervisors
$500. Date May 7 1912. Int. semi-ann. at such bank or trust company for the $19,000
voted
recently
bonds
high-school
(V.
69).
P•
95.
as may be agreed upon. Cert, check for $500, payable to the Bd. of
WADSWORTH, Medina County, Ohio.-Bond Sale.-On July 23 the
Oomm'Iss of Public Works, required.
$5,000 5% 7 1-3-yr. (ay.) coup. general deficiency tax-free bonds (V. 95,
ST. JOHNS, Multnomah County, Ore.-Bond Sale.-On July 16 $9,500 p. 192) were awarded to Seasongood & Mayer of Cin. at 105.12 and int.6% 1-10-year (opt.) strect-impt. bonds were awarded to the Peninsula Nat. a
basis of about 4.20%. Other bids follow:
Bank of St. Johns for $9,555, making the price 100.578. Denom. $500. Otis
$5,246 00 New First Nat. Bk., Col__ _55,225 00
& Co., Cleveland
Date June 1 1912. Interest J. & D.
5,232 00 Hayden, Miller & Co.. Cleve 5,165 00
Davies-Bertram Co., Chi
ST. PAUL. Minn.-Bonds Authorized.-The lid. of Aldermen has passed Prov.Say.Bk.esTr.Co., Cin_ 5,228 51 Wadsworth National Bank,
5,155 00
Wadsworth
5,228 00
a resolution providing for the issuance of $600,000 43,6% 30-yr. library bds. Well. Roth & Co., Cin
WASHINGTON CITY SCHOOL D STRICT (P. 0. Washington C. H.),
SALEM, Columbiana County. Ohio.-Bonds Authorized.-An ordinance
was passed July 16 providing for the issuance of $11,746 69 4 ;i% coup. re- Fayette County, Ohio.-Bond Offering.-Proposals will be received until
funding bonds. Denom. (22) $500 (1) $746 69. Date Sept. 1 1912. Int. 12 m. Aug. 15 by R. Howat, Clerk Bd. of Ed., for $30,000 4% coup. bldg.
U. & S. at City Treas. Due "period of eight years and seven months."
bonds voted May 21 (V. 94, p. 1524). Auth., Secs. 7625, 7626, 7627 and
Aug. 15 1912. Int. M. & S. Due $1,000 yrly.
SALINE COUNTY SCHOOL DISTRICT NO. 4. (Harrisburg). III.- 7628, Gen. Code. Date
1 from 1916 to 1945 incl. Bonds to be delivered and paid for within
Mch.
InBonds Offered by Bankers.-ii. T. Holtz & Co. of Chicago are offering to
10 days from time of award. Cert. check for 5% of bonds bid for, payable
vestors $5,000 5% coup. building bonds. Denotn. $1,000. Date July 1
to the City Treas., required.
1912. Int. in July at the Central Trust Co. of Ill. Due $1,000 yearly
July 1 from 1915 to 1919 inclusive.
NVAYNESBORO SCHOOL DISTRICT (P. 0. Waynesboro). Pa.-Bonds
Awarded in Part.-On July 1 540,000 of the $50,000 4 % 15-30-yr. (opt.)
5%
SAN ANSELMO. Mann County. Cal.-Bond Sale.-The $26,000
bonds (V.91, p. 1524) have been sold to J. H. Adams & Co., now Torrance, school bonds (V.94, p. 1721) were awarded to N. W. Halsey & Co. of N. Y.
at 103.263 and int.-a basis of about 4.22% to the optional date and 4.32%
Marshall & Co. of San Francisco.
PO
to full maturity.
SCHUYLKILL COUNTY (P. 0. Pottsville). Pa.-Bonds Proposed.bridge
WELLINGTON, Sumner County, Kan.-Bond Election.-Reports state
of
$50,000
issuance
tile
This county, reports state, is considering
$175,000
issue
to
proposition
a
on
that an election will beheld Sept.3 to vote
and $100,000 hospital furnishing bonds.
water-works-system bonds.
SCOTT COUNTY (P. 0. Davenport), Iowa.-BondElection.-An election
WEST SPRINGFIELD, Mass.-Bonds Authortzed.-The issuance of
will be held Nov. 5 to vote on the question of issuing $50,000 hospital bonds.
school bonds at not exceeding 4% int, has been authorized, it is
$40,000
SEBRING, Mahoning County, Ohio.-Bond Offering.-Proposals will
Denom. $1,000. Date Aug. 1 1912. Due $2,000 yearly from
be received until 1 p. m. Aug. 20 by II. Jenkins, Vii. Clerk, for the follow- stated.
1932. inclusive.
to
1913
ing 4 ;i% street-1mM. bonds:
WHEELING, Ohio County, W. Va.-Bond Sale.-The Germania Hall$11,500 Fifteenth St. paving bonds. Due $1,000 yrly. on July 1 from
bonds, according to re1913 to 1919 incl. and $1,500 yrly. on July 1 from 1920 to 1922 incl. Dollar Bank of Wheeling was awarded $52,50045%
14,500 Ohio Ave. Impt. bonds. Due $1,000 July 1 1913 and $1,500 yrly. ports.
WHITESTOWN UNION FREE SCHOOL DISTRICT NO. 1 (P. 0. Orison July 1 from 1914 to 1922 incl.
Denom. $500. Date July 1 1912. Int. J. & J. at office of the Village kany). Oneida County, N. Y.-Bond Offering.-Proposals will be received
Treas. Cert. check for 2% of bonds bid for, payable to the Village Treas., until 7 p. m. Aug. 1 by A. C. Fairchild, Clerk Bd. of Ed.. for $12,000 5%
at the
required. Bonds must be taken up not later than Sept. 1. Bids must be reg. bonds. Denom. $1,000. Date July 1 1912. Int. ann. In Nov.
First Nat. Bank, Utica. Due $1,000 yrly. on Nov. 1 from 1913 to 1924
for each entire block of bonds.
bonds bid for, payable to the Dist. Treas.,
of
2%
for
check
Cert.
incl.
R.
W.
SELMA, Fresno County, Cal.-Bonds Offered by Bankers.-The
required.
Stoats Co. of Pasadena is offering to investors the $10,000 fire-dept. and
WHITESVILLE SCHOOL DISTRICT (P. 0. Whitesville), Andrew
$6,500 park 5% bonds voted April 10 (V. 94, p. 1135). Denom. $500 and
$325. Date June 15 1912. Int. J. & D. at Selma. Due $825 yearly County, Mo.-Bond Sale.-We are advised that the $3,000 bldg. bonds
recently voted (V. 94, p. 1584) will be purchased by the Farmers' Bank of
June 15 from 191$ to 1932 inclusive.
Whitesville.
SHAKER HEIGHTS VILLAGE SCHOOL DISTRICT. Cuyahoga County,
WILLIAMSON COUNTY COMMON SCHOOL DISTRICTS. Tex.-Bond
Ohio.-Bond Offering.-Proposals will be received until 12 tn. Aug. 12 (date
-The State Permanent School Fund purchased at par and int. on
Sale.
extended from Aug. 9) by C. A. Palmer, Clerk Bd. of Ed., at the First Nat.
dated July 10 1912:
Bank, Cleveland, for $60,000 4 5i% coup. school-bldg. bonds. Autht Secs. July 15 the following 5% 10-20-yr. (opt.) bldg. bonds No.
55. The bonds
Dist.
2294, 2295, 7626, 7627, 7629 and 7630, Gen. Code. Denom. $1,000. Date $2,000 bonds of Dist. No. 75 and $2,250 bonds of
which
of
have now been
all
$8,000,
of
issue
an
of
part
are
75
No.
Dist.
of
"day of sale." Int. A. & 0. at office of VIII. Treas. Due $3,000 yearly on
Oct. 1 from 1916 to 1935 Incl. Cert. check on a bank, other than the one contracted for.
making the bid, for 10% of bonds bid for, payable to the Dist. Treas.. reWILLOW HIGH SCHOOL DISTRICT (P. 0. Willow), Glenn County.
quired. Bonds to be delivered within 10 days from time of award. Pur- Cal.-Bonds Voted.-By a vote of 642 "for" to 228 "against," the question
&laser to pay aocrued interest.
of issuing the $50,000 5% building bonds (V. 94, p. 1721) carried at the
SKIATOOK. Tulsa County. Okla.-Purchaser of Bonds.-We are ad- election held July 16.
Offering.-pro..
WOOD COUNTY (P. 0. Bowling Green), Ohio.-Bond
vised that the purchaser of the $9,000 sewer and $3,000 light 6% bonds
by C. E. Steinbaugh, Co. And..
(V. 95, p. 192) was It. ,J. Edwards of Oklahoma City, at par. Denom. posals will be received until 1 p. m. Aug. 6bonds.
Denom. $1,000. Date
for $50,000 5% coup. highway-impt.
$1,000. Date July 1 1912. Due July 1 1937.
Aug. 15 1912. Int. M. & S. at the Co. Treas. office. Due $5.000 each six
SOUTH HEIGHTS SCHOOL DISTRICT. Beaver County, Pa.-Bonds months from Mch. 1 1913 to Sept. 1 1917 incl. Cert. check for $1,000,
Not Sold.-We are advised that the $4,800 4 Yi% bonds offered on July 1
payable by a bank in Bowling Green, is required. Purch. to pay accrued
have not been sold.
int. A like issue of bonds was advertised to be sold on July 26 (V.95, p.131)
SOUTH MOLINE TOWNSHIP, Rock Island County, III.-Bond Election
WOOD COUNTY COMMON SCHOOL DISTRICT NO. 24, Tex.-Bond
Proposed.-Local papers state that this township has decided to call an Sale.-On July 15 $2,500 5% 10-40-year (opt.) building bonds were purelection to vote on a proposition to issue $15,000 road-impt. bonds.
chased by the State Permanent School Fund at par and int. Date April 10
SPARTANBURG, So. Car.-Bonds Voted.-According to reports an 1912. These bonds are part of an issue of $5,500, all of which have now
election held July 16 resulted in favor of the proposition to issue $90,000 been contracted for. Tile entire issue was registered by the State Comptroller on July 16.
funding, $90,000 street and $20,000 sewer bonds.
WORTHINGTON FIRE DISTRICT (P. 0. Worthington), Hampshire
SPOKANE COUNTY SCHOOL DISTRICT NO.81, Wash.-Bond Sales.be received until 8 p. m.
On July 20 the $250,000 20-yr. coupon bldg. and site bonds (V. 95. p. 69) County, Mass.-Bond Offering.-Proposals willfor
$5,000 4% coup. bonds.
July
29 by H. S. Cole, Clerk Water Commrs.,
;is.
4
were awarded to Devitt. Tremble & Co. of Chicago at 100.35 for
Denom. $1,000. Date Oct. 7 1911. Int. A. & 0.at the Old Colony Trust
The other bids follow:
Co., Boston. Due $1,000 yrly. on Oct. 7 from 1936 to 1940 incl. Bonds
Premium.
Rate.
The New York Life, New York
$650 00 will be certified as to genuineness by the Old Colony Trust Co. The legal4
ity of the issue has been approved by Ropes, Gray es Gorham, whose opinion
S. A. Kean & Co., Chicago Ill
4 %)
Sent their own certified check and no accrued inter1,250 00 will be furnished to the purchaser without charge.
est on bonds.
WYANDOT COUNTY (P. 0. Upper Sandusky), Ohio.-Bond Sale.-On
57
450
No. 1-Morris Bros., Portland, Ore
yy
July 18 the $28,000 5% 6-yr. (ay.) coup. road-impt. bonds (V. 94, p. 1783)
1,301 00 were awarded to Tillotson & Wolcott Co. of Cloy, at 105.05 and int.-a basis
No. 2-Morris Bros., Portland, Ore
4
Bonds dated July 1st, delivered.
of about 4.044%. Other bids follow:
Sept. 1st, no accrued interest.
Sec.Say. Bk.&Tr.Co.,Tol.$29,333 50 First Nat. Bk., Upper San.$29,162 00
disc. 98 65 Otis & Co., Cleveland_ _ _ _ 29,310 00 Breed & Harrison, Chic__ 29,125 60
No. 1-Merrill, Oldham & Co., Boston, Mass
4 IA
,
No. 2-Merrill, Oldham & Co., Boston, Mass
First Nat. Bank, Cleve_ _ _ 29,299 80 Corn. Nat. Bk., Upper San.29,105 00
E. II. Rollins & Son, Chicago, III
% • • • .1,312
Hayden. Miller & Co., Clev.29,260 00 Citizens' Sav.Bk..Upper S. 29,073 52
Union Trus & Savings Bank, Spokane, Washington,_ _4 34 •
• Par.t Stacy & Braun, Toledo__ _ 29,247 00 Seasongood & Mayer. Cin_ 29,071 00
1. ['Furnishing Bonds'and actInglas Fiscal Agency.
• •
• •
New First Nat. Bk., Col__ 29,166 00 S. A. Kean dc Co., Chicago 28,733 60
. SPRINGFIELD, Clarke'County Ohlo.-Bonds Authorized.-An ordiYOAKUM, De Witt County, Texas.-Bond Electton.-An election will
nance was passed July 9 providing for the issuance of $5,000 4 yi% coup. be held Aug. 15 to vote on the proposition to issue $32,000 sewer-system
street-impt. (city's portion) bonds. Denom. $500. Date Sept. 1 1912. bonds, according to reports.
Int. M. es S. at °Mee of the City Treas. I)ue Sept. 1 1918.
YORBA LINDA SCHOOL DISTRICT, Orange County. Cal.-Bonds
SUNSET SCHOOL DISTRICT, Merced County. Cal.-Bond Offering.- Refused.-According to reports, Torrance, Marshall & Co. (formerly J. H.
Proposals will be received until 10 a. m. Aug. 6 by the County Supervisors Adams es Co.) of Los Angeles have refused the $10,000 5% bonds recently
(P. 0. Merced) for $2,000 6% bonds, according to reports.
awarded to them (V. 94, p. 1584).
23
254
THE CHRONICLE
[VOL. LXXXXV.
r YORKSHIRE SCHOOL DISTRICT. Ohio.-Bond Sale.-On July 15 the
COTE (Rural Mun. No. 271), Sask.-Debenture Offering.-Proposals will
$8,000 5% 103 -year (ay.) school bonds were awarded to Hayden, Miller & be received at any time, reports state, by J. Bowes,Seo.-Treas.(P.0. KamCo. of Cleveland at 102.75-a basis of about 4.659%. Denom. $400. sack), for $1,000 permanent impt. debentures.
A.
&
0.
1912.
Interest
Date;July 15
CUPAR (Rural Mun. No. 218), Sask.-Debenture Offering.-J. Moir,
YOUNGSTOWN. Mahoning County, Ohio.-13ond Offering.-Proposals Sec.-Treas.
(P. 0. Markench), Is offering for sale $15,000 permanent-impt.
will be received until 2 p. m. Aug. 19 by D. J. Jones, City Auditor, for the debenture,
following 5% bonds:
$300 Clifton St. lmpt. bonds. Due Oct. 1 1914.
DOMINION OF CANADA.-Sales ofShoot District Debentures.-During
4,315 Steel St. grading bonds. Due $863 yearly on Oct. 1 from 1913 to June the following 10-installment school-district debent., aggregating $31,1917 inol.
•
400, were purchased by the Alberta School Supply Co. of Edmonton at par.
Midland
2,260
Ave. grading bonds. Due $452 yearly on Oct. 1 from
SCHOOL DISTRICTS IN PROVINCE OF ALBERTA.
•
1913 to 1917 incl.
DistrictName
Amount. Int.
Date.
1,655 Richland Ave. grading bonds. Due $331 yearly on Oct. 1 from Andrewsof
School District No. 2652
$800 6
June 5 1912
• .1913 to 1917 incl.
Bridgend School District No. 2394
12.000 5
June 18 1912
3,055 Marshall St. grading bonds. Due $611 yearly on Oct. 1 from 1913 Dnister School District No. 2716
800 6
June 24 1012
•
to 1917 incl.
Eagle Creek School District No. 403
1,000 6
June 20 1912
11,510 Salt Spring St. paving bonds. Due $2,302 yearly on Oct. 1 from Fruitland School District No. 2719
800 6
June 3 1912
•
1913 to 1917 incl.
Glenada School District No. 2654
1,500 6
June 20 1912
8,115 Charlotte Ave paving bonds. Due $1,623 yearly on Oct. 1 from Glentallock School District No.2628
800 65i June 29 1912
1913 to 1917 incl.
Lundgren School District No. 2594
1,200 6 Yi June 15 1912
1,365 Court St. sewer bonds. Due $273 yearly on Oct. 1 from 1913 to Morning Glory School District No. 2612
1,500 6
June 20 1912
•
1917 incl.
Minor School District No. 2552
1,500 6
June 24 1912
Date Aug. 26 1912. Int. semi-ann. at the office of City Treas. Cert. Waldhein School District No.2739
1,500 eg June 22 1912
check for 2% of bonds bid for, payable to the City Auditor, required. Westfield School District No. 2648
1,600 6
June 27 1912
Bonds must be taken up not later than Aug. 26. Separate bids must be Windermere School District No. 2698
1,600 6
June 13 1912
made for each block of bonds.
SCHOOL DISTRICTS IN PROVINCE OF SASKATCHEWAN.
Antelope Butte School District No. 2679
500 6
June 7 1912
Barrier River School District No.245__.1,200 6
June 12 1912
Dutton School District No. 475
1,600 6
June 8 1912
1,500 6
June 21 1912
AMARANTH. Ont.-Debenture Election.-On Aug. 3 the Burgesses will Rose Peak School District No. 525
vote on the question of issuing $6,700 bridge debentures, it is reported.
EXETER. Ont.-Debenture Sale.-On July 19 $5,000 5% 20-year sewer
BEAMSVILLE. Ont.-Debenture Election Proposed.-The question of
holding an election to authorize the issuance of $20,000 school debentures is debentures were awarded to Gladman & Stanbury at par. Other bids
follow:
being considered.
National Finance Co., Toronto$4,948 W.A. Mackenzie & Co., Tor_ _$4,803
BELLEVILLE. Ont.-Debenture Election.-An election will be held C. H. Burgess & Co., Toronto_ 4,831 Ontario Scour. Co., Ltd., Tor_ 4,750
Aug. 1 to vote on the proposition to issue $5,000 bonus debentures, it is Brent, Noxon & Co., Toronto_ 4,811
stated.
FERNIE, B. C.-Debenture Offerring.-Proposals will be received until
P BERLIN. Ont.-Debentures Voted.-The issuance of $25,000 bonus de- 7 p.
m. Aug.8 by 0. W.Ross, City Treas., for the $25,000 school-bldg. and
bentures was recently voted, reports state.
$5,000 equip. 5% debentures (V. 95, p. 132). Duo Aug. 1 1942. PurBIGGAR. Sask.-Debenture Sale.-On July 13 the $16,000 53% 40- chaser to pay accrued interest from Aug. 1 1912.
installment debentures (V. 94, p. 1783) were awarded to C. H. Burgess &
GEORGETOWN. Ont.-Debentures Proposed.-Thls place Is considering
Co. of Toronto.
the issuance of $3,200 bonus debentures, it is stated.
BIG QUILL (Rural Mun. No. 308), Sask.-Debentures Proposed.-AcHALBRITE,
Sask.-Debentures
-According to reports, the
cording to reports $20,000 will be borrowed for permanent improvements. issuance of $3,000 bonus debenturesAuthorized.
has been authorized.
R. Denovan (P. 0. Wynyard) is Sec.-Treas.
N.
S.
-Debenture
Sale
.-N
.
HALIFAX,
W.
Harris
& Co. Inc., of Boston
BRACEBRIDGE. Ont.-Debenture Offering.-Proposals will be received were awarded at 93.32 the nine issues of 4% 33-yr. debentures,
'
aggregating
until 6 p. m.Aug.5 by A.0:Salmon,Town Clerk,for the $5,000 and $7,000 $352,700 (V.95, p. 70), which this city has been offering
for sale.
5% 20-yr. coup. water-works debentures (V. 94, p. 1721). Due part
KINISTINO SCHOOL DISTRICT NO. 42, Sask.-Debenture Offering.yearly on July 9.
Proposals will be received up to July 31 by J. R. Graham, Sec.-Treas., for
BRITANNIA (Rural Mun. No. 502). Sask.-Debenture Offering.-Pro- $1,500-6% debentures. Due in 20 annual installments.
posals will be remixed. until 12 m. Aug. 5 by S. M. Daly, Sec.-Treas.(P. 0.
LETHBRIDGE, Alta.-Debenture Offering.-Proposals will be received
,6% debentures., Due in 20 ann. Installments.
Lloydminster), for $7,000 5;
at any time for the following 4 M% coupon debentures:
- CALGARY, Alta.-Debenture Election.-An election will be held July 29, $50,000 debentures due in 1921. Int. J. & D.
it Is reported, to vote on the question of issuing $40,000 debentures.
65,000 debentures due in 1922. Int. J. ec D.
CU APPLE. Ont.-Debentures Proposed.-The proposition to Issue $1,500 400,000 debentures due in 1942. Int. J. & J.
238,000 debentures due in 1942. Int. J. 8C D.
school debentures is being considered, it is stated.
Canada. its Provinces and Municipalities.
r
NEW LOANS.
NEW LOANS
NEW LOANS.
$835,000
City of Norfolk,Virdinia,
$100,000
Dallas County, Alabama,
$120,000
Thirty-Year Four and One-half Per Cent
(4Y2%)Bonds of $1,000.00 Each
GOOD ROADS BONDS
BRIDGE BONDS
Sealed bids for the One Hundred Thousand
Dollars Dallas County, Alabama, Good Roads
bonds, voted for by a majority of the electors of
Dallas County, Alabama, on July 1st, 1912, will
be received by the undersigned on or before noon,
MONDAY, AUGUST 121H, 1912. Said bonds
bear interest at the rate of five percent per annum,
payable semi-annually in New York City, with
thirty years to run. The first coupon payable
January 1st, 1913, bears interest from July 1st,
1912. Certified check for $1,000 must accompany each bid.
P. H. PITTS.
Probate Judge,
Selma, Alabama.
• Sealed bids will be received by the Board of
County Commissioners of Wyandotte County,
Kansas, at the office of the undersigned County
Clerk, in Kansas City, Kansas, until 2 o'clock
P. M., upon THURSDAY, AUGUST 8, 1912,
at which time said bids will bo opened,topurchase
$120.000 of county Bridge bonds.
Wood & Oakley's opinion as to the legality of
bonds will be furnished by County.
Each bidder will be required to deposit $5,000
as evidence of good faith.
Witness my hand and official seal of the County,
this 8th day of July, A. D. 1912.
(Seal.]
FRANK M. IIOLCOMB,
County Clerk.
Dated September 1, 1912.
Interest Payable March 1st and September 1st.
SEALED PROPOSALS will be received at the
Office of tho City Treasurer of NORFOLK,
VIRGINIA, UNTIL 12 O'CLOCK M., THURSDAY,SEPTEMBER 12TH, 1912, for $835,000 00
Four and One-Half Per Cent (4 M%) Thirty (30)
Year Coupon Bonds, issued for the following
purposes:
$345,000 00
Appropriation Bonds
20,000 00
Park Place Ward School Bonds
Ninth Ward Improvement Bonds:
8,000 00
Series A
248,000 00
Series B
Tenth Ward Improvement Bonds_ _ _ _ 214,000 00
$835,000 00
Total
Bids may be for the whole or part of the said
Bonds, and must state price and accrued interest.
L.Bonds issued In denominations of $1,000 00.
Bonds and Interest payable in Norfolk.
All Bonds to be issued as Coupon Bonds, but
purchasers to have privilege of having same
registered.
Bids must be marked "Proposals for Bonds."
Bidders to enclose check for one per cent (1%)
of the par value of the amount bid for. Immediately upon notification of allotment a further
deposit of four per cent (4%) of par value of
amount allotted shall be made.
Four and one-half per cent (4 ;•6%) interest will
allowed successful bidders on the five per cent
(5%) pald in from time of receipt of the four per
cent (4%) until bonds are ready to be delivered.
It is proposed to deliver the Bonds to purchasers as of the date of sale, but if for any reason any
delivery should be delayed beyond that date, the
purchaser will be required to pay accrued interest
to the time of delivery. The remainder of the
purchase money to be paid immediately after the
purchasers are notified that Bonds are ready for
delivery.
The Bonds shall be delivered and paid for in
the City of Norfolk.
Checks to be drawn on some State or National
Bank, certified and made payable to order of
B. Gray Tunstall, City Treasurer of the City of
Norfolk, Va.
Circular containing full information will be forwarded upon request to the City Clerk.
• The right is reserved to reject any or all bids,
and also (unless otherwise expressly stated in the
bid) to allot any portion of the amount of bonds
bid for.
THE FINANCE COMMITTEE.
JNO. N. SEBRELL, Jr., Chairman,
From the Common Council.
•
THOS. H. WILLCOX, Chairman,
From the Board of Aldermen.
Teste: R. E. STEED, City Clerk.
Strtherlin & Company
MUNICIPAL BONDS
Commerce Building
MISSOURI
KANSAS CITY
$50,000
CITY OF DOUGLAS, GEORGIA,
30-Year 5% Bonds
104.75 and Interest. Yielding 4.70%.
Wyandotte County, Kansas,
•
STACY & BRAUN
Toledo, 0.
Cincinnati, 0.
HODENPYL, HARDY& CO.
14 Wall St., New York
Railroad, Street Ry., Gas & Elec. Light
SECURITIES
Charles M. Smith & Co
CORPORATION AND
MUNICIPAL BONDS
BLODGET & CO.
fIRST NATIONAL BANK BUILDING
CHICAGO
60 STATE STREET, BOSTON
BONDS
80 PINE STREET, NEW YORK
STATE, CITY & RAILROAD BONDS
Bolger, Mosser & Willaman
MUNICIPAL BONDS
Legal for Savings Banks,
Postal Savings and Trust Funds.
SEND FOR LIST.
29 South La Salle St.,
ESTABLISHED 1885.
H. C. SPEER & SONS CO.
First Nat. Bank Bldg., Chicago
SCHOOL,
CHICAGO COUNTY AND MUNICIPAL BONDS
'
BON DS
F. WM. KRAFT
LAWYER.
LIST ON APPLICATION
Specializing in Examination of
MUNICIPAL AND RAILROAD
SEASONGOOD & MAYER Municipal and Corporation Bonds
Ingalls Building
CINCINNATI
1037-9 FIRST NATIONAL BANK BLDG.,
CHICAGO, ILL.
Denom.£100 or any multiple thereof,!in sterling money, or the equivalent
in Canadian currency or dollars and cents. Int. payable at the Bank of
Montreal in London. Toronto, Montreal or Lethbridge.
Pr LINDSAY, Ont.-Debenture Sale.-The Ontario Securities Co., Ltd., of
Toronto was awarded the $10,000 debentures recently voted (V.94, p.1464).
MEDICINE HAT, Alta.-Debentures Authortzed.-This place has authorized the issuance of $5,630 sidewalks, $35,000 curb, $34,190 cement-sidewalk and $15,000 grading debentures, according to reports.
MELFORT SCHOOL DISTRICT NO. 1037 (P. 0. Me!fort), Sask.-Debenture Offering.-Proposals will be received until 12 m. Aug.8 by W. Wood,
Sec.-Treas., for $50,000 6% debentures (V. 94, p. 1784). Due in 30 annual
installments of principal and interest, first payment to be 16 months from
datejiof debentures. • • • • • ....
PM!DLAND, Ont.-Debenture Sale.-The Ontario Securities Corp., Ltd.,
of Toronto was awarded, reports state, $33,000 5% debentures.
MITCHELL, Ont.-Debentures Voted.-The election held July 17 resulted in favor of the proposition to issue the $10,000 park debentures
(V. 95, p. 71), reports state.
MONO,Ont.-Debentures Voted.-At a recent election, it is reported, the
proposition to issue $13,000 bridge debentures carried.
MORRIS (Rural Municipality No. 228), Man.-Debenture Election.-An
election will be held Aug. 3, it is stated, to vote on the issuance of $2,000
6% 20-year school debentures. D. M. Ure (P. 0. Morris) is Sec.-Treas.
MORRIS (RURAL MUNICIPALITY), Sask.-Debentures Voted.-The
election held July 6 (V. 95, p. 71) resulted in favor of the proposition to
issue $2,000 6% school-building and equipment debentures. The vote was
8 to 1. Due in 15 annual payments.
NEW KENNEDY SCHOOL DISTRICT NO. 1573, Man.-Debenture
Election.-An election to vote on the question of issuing $2,000 school
debentures will be held Aug. 3, reports state.
OWEN SOUND, Ont.-Debentures Voted.-The election held July 13
resulted in favor of the proposition to issue tile $40,000 bonus debentures
(V.95, p.71).
PALMERSTON, Ont.-Debenture Election.-An election will be held
Aug. 3, reports state, to vote on a by-law to raise $1,000 to carry out the
agreement between C. Krentziger and the corporation.
PARKHILL. Ont.-Debentures Voted.-The election held July 15 resulted, reports state, in favor of the proposition to issue $25,000 waterworks debentures (V. 95, p. 133).
PLEASANT POINT SCHOOL DISTRICT NO. 267. Man.-Debenture
Sale.-It is stated that Wood, Gundy & Co. of Toronto were awarded the
$2,000 6% 10-instaliment debentures recently voted (V. 94, p. 1005).
ROCK ISLAND, Que.-Debenture Election.-The question of issuing
$25,000 debentures will be submitted to the burgesseslJuly 30, It is stated.
ROSEDALE (Rural Municipality No. 283), Sask.-Prtee Paid for
Debentures.-The price paid for the $15,000 4 3% 20-year debentures.
awarded on June 29 to H. O'Hara & Co. of Toronto (V. 95. p. 194) was
93.50. Denom. $750. Interest annual.
ROSEMOUNT. Sask.-Debenture Sale.-The $8,000 5 M% 20-year
permanent-impt. debentures which this place has been offering for sale
19
n5a,. p. 71) were purchased, according to reports, by Nay & James of
Regina.
R VLEY. Alta.-Debenture Sale.-Nay & James of Regina were awarded
$2,000 6% 10-year debentures.
SAANICH. B. C.-Loan Voted.-The proposition to Issue a $33,500
school loan carried at a recent election.
ST. AGNES ROMAN CATHOLIC SEPARATE SCHOOL DISTRICT
NO.22, Sask.-Debenture Offering.-Proposals will be received until 5 p. m.
Aug. 10 by E. J. Baker, Sec.-Treas. (Box 41, Moose Jaw) for $30,000 5%
site-purchase and building debentures, re-payable 10 40 annual installments.
ST. CLEMENTS, Man.-Debenture Election.-An election will be held
July 29, it is stated, to vote on the question of issuing $12.000 4% 30-year
road debentures.
SEAFORTH, Ont.-No Debentures to Be Issued.-We are advised that
the $10,000 library debentures which were to be voted upon (V. 94. p.
1585) will not be issued, as the money is to be obtained from Mr. Carnegie.
SHERBROOKE, Que.-Debentures Voted.-Reports state that by-laws
to borrow money for street improvements have carried.
STRASSBURG. Sask.-Price Paid for Deebntures.-The price paid for
the $5,000 6% 20-installment coupon fire-protection debentures awarded
to the National Finance Co. of Toronto (V. 94, p. 1784) was 98.16 and int.
Date July 1 1912. Int. annually in July. Other bids for these debentures
follow:
Nay & James, Regina
$4,865 Ontario Sec. Co., Ltd., Tor_ _$4.847
STRATH ROY, Ont.-Debentures Not Sold.-No award was made on
July 13 of the $40,000 5% 30-installment college-building debentures
(V. 94, p. 1784).
SWIFT CURRENT (Rural Municipality No. 137), Sask.-Debentures
Authorized.-It is stated that this place has authorized the Issuance of
$20,000 improvement debentures.
TROFIELD. Alta.-Debenture Election.-An election to vote on the
issuance of $50,000 gas debentures is being talked of, It is stated.
VANCOUVER. B. C.-Debenture Election.-An election will be held
Aug. 8, according to reports, to vote on the question of issuing $600,000
debentures.
VICTORIA. B. C.-Loan A uthorized.-A loan of 9175,000 for school purposes was recently authorized, it is stated.
WHITBY,Ont.-Debenture Election.-The burgesses will *vote on July 31,
according to reports, on the proposition to issue $25,000 school debentures
ACCOUNTANTS.
LYBRAND,
ROSS BROS &
• MONTGOMERY
Certified Public Accountants
(Pennsylvania)
NEW YORK. 55 Liberty St.
PHILADELPHIA, Morris Bldg.
PITTSBURGH, Union Bank Bldg.
CHICAGO;First Nat. Bank Bldg.
SAN FRANCISCO, Kohl Bldg.
SEATTLE, Central Bldg.
LONDON, 58 Coleman St
JAMES PARK & CO.
CERTIFIED PUBLIC ACCOUNTANTS
New York, Chicago, Cincinnati and
London, England.
AUDITORS FOR
FINANCIAL /NSTITO
TIONS, INDUSTRIAL AND
MINING COMPANIES
InveetleatIons, Financial Statements,
Periodical Audits and Accounting
NATIONAL LIGHT,
HEAT cit, POWER COMPANY
GUARANTEED
BONDS
All issues
A. H. Bickmore & Co.,
BANKERS
30 Pine
New York
Street,
255
THE CHRONICLE
JULY 27 1912 1
Adrian H. Muller & Son,
AUCTIONEERS,
Regular Weekly Sales
OF
STOCKS and BONDS
EVERY WEDNESDAY
MISCELLANEOUS.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 23d, 1912.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affairs on the
.31st of December, 1911,
The Company's business has been confined to marine and inland transportation insurance.
$3,653,325 13
Premiums on such risks from the 1st January, 1911, to the 31st December, 1911
873,680 37
Premiums on Policies not marked oft 1st January, 1911
$4,527,005 66
Total Premiums
Premiums marked oft from January 1st, 1911, to December 31st, 1911
13,773.578 22
Interest on the investments of the Company received during the year
Interest on Deposits in Banks and Trust Companies, etc
Rent received less Taxes and Expenses
_$333,897 03
39,628 24
153,167 66
Losses paid during the year
Less Salvages
Re-insurances
$1,385,386 46
3220,704 52
205,151 34 425,855 86
$959,530 60
526,692 93
5196,936 89
Returns of Premiums
Expenses, including officers' salaries awl clerks' compensation, stationely, advertise570,472 18
mente, etc
A dividend af interest of Fix per cent on the outstan•ling certificates of profits will be paid to the holders
thereof, or their legal representatives, on and after Tuesday the sixth of February next.
The outstanding certificates of the Issue of 1906 will be redeemed and paid to the holders thereof, or theis
legal representatives, on and after Tuesday the sixth of February next, from which date all interest thereon
will cease. The certificates to be produced at the time of payment and canceled,
A dividend of Forty per cent is declared on the earned premiums of the Company for the year ending 31st
December, 1911, which are entitled to participate in dividend, for which, upon application, certificates will be
Issued on and after Tuesday the seventh of May next.
G. STANTON FLOYD-JONES, Secretary.
By order of the Board,
TRUSTEES.
CHARLES M. PRATT,
HERBERT L. GRIGGS,
FRANCIS M. BACON,
CLEMENT A. GRISCOM,
JOHN N. BEACH,
GEORGE W. QUINtARD.
ANSON W. HARD,
ERNEST C. BLISS,
ANTON A. RAVEN,
THOMAS H. HUBBARD,
VERNON H. BROWN,
JOHN J. RIKER,
LEWIS CASS LEDYARD,
WALDRON P. BROWN.
D.
CHARLES
ROBINSON,
DOUGLAS
LEVERICH.
JOHN CLAFLIN
GUSTAV H. SCHWAB,
LEANDER N. LOVELL,
GEORGE C. CLARK,
WILLIAM SLOANE,
GEORGE H. MACY,
CLEVELAND H. DODGE,
LOUIS STERN,
CHARLES H. MARSHALL,
CORNELIUS ELDERT,
WILLIAM A. STREET
NICHOLAS F.,
PALMER,
RICHARD H. EWART,
GEORGE E. TURNURI:,
PHILIP A. S. FRANKLIN:
ADOLF PAVENSTEDT,
A, A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
WALTER WOOD PARSONS, 2d Vice-Presiden4.
Vice-President,
CHARLES E. FAY,_
JOHN H. JONES STEWART, 41/s Vice-President.
BALANCE SHEET.
ASSETS.
LIABILITIES.
Estimated Losses and Losses Unsettled
United States and State of New York
52,310,027 00
in process of Adjustment
5700,000 00
Bonds
Unterminated
Risks
York
Premiums
on
753,427 33
New
and
Trust
Co.
City
York
New
1,777,900 00 Certificates of Profits and Interest Unand Bank Stocks
paid
2,742,162 00
267,092 05
Stocks and Bonds of Railroads
109,742 16
220,020 00 Return Premiums Unpaid
Other Securities
Reserve for Taxes
57,512 18
Special Deposits in Banks and Trust
Re-insurance
Premiums
00
183,599 07
1,000,000
Companies
Claims not Settled, including CompenReal Estate cor. Wall and William Streets
sation, etc
69,104 08
and Exchange Place, containing offices 4,299,426 04
Certificates of Profits Ordered Redeemed.
Real Estate on Staten Island (held under
Withheld for Unpaid Premiums
22,471 29
75,000 00
provisions of Chapter 481 Laws of 1887)
7,401,390 00
618.136 00 Certificates of Profits Outstanding
Premium Notes
449,354 23
Bills Receivable
Cash In hands of European Bankers to
pay losses under policies payable in
203,603 36
foreign countries
930,321 99
Cash in Bank
MN/
450,000 00
New York City Revenue Bonds
511,174,36514
$13,465,923 62
$2,291,558 48
Thus leaving a balance of
$41,878 80
Accrued Interest on Bonds on the 31st day of December, 1911, amounted to
21,970 46
Rents due on the 31st day of December, 1911, amounted to
Re-insurance due or accrued, in companies authorized in New York, on the 31st day of December,
214,367 00
1911, amounted to
83,096 43
Unexpired re-insurance premiums on the 31st day of December, 1911. amounted to
Note: The Insurance Department has estimated the value of the Real Estate corner Wall and
450,573 96
William Streets and Exchange Place in excess of the Book Value given above, at
FOR SALE
63,700 00
And the property at Staten Island in excess of the Book Value, at
Second-hand volumes in good condition for The Market Value of Stocks, Bonds and other Securities on the 31st day of December, 1911, ex1,588,635 62
ceeded the Company's valuation by
years prior to 1908
----54,755,780 75
COMMERCIAL & FINANCIAL CHRONICLE On the basis of these increased valuations the balance would be
138 Front St., New York
Office. No. 55 WILLIAM STREET.
Corner Pine Street.
CHRONICLE VOLUMES
256
THE CHRONICLE
[VoL. Lxxxxv.
gmst (t(=panics.
gngtnetrs.
ono States Doi oolong at SOW Yore,
Chartered 1853
45 and 47 WALL STREET
CAPITAL,
SURPLUS AND UNDIVIDED PROFITS
-
-
-
-
This Company acts as Executor, Administrator, Guardian, Trustee, Court Depositary and In
other recognized trust capacities.
It allows Interest at current rates on deposits.
It holds, manages and Invests money, securities and other property, real or personal, for estates.
tsorporations and Individuals.
EDWARD W. SHELDON, President.
WILLIAM M. KINGSLEY, V.-Pres. WILFRED J. WORCESTER,Secretary
WILLIAMSON PELL, Asst. Secy.
CHARLES A.EDWARDS, 2d Asst. Secy.
William Rockefeller,
Alexander E. Orr,
William H. Macy Jr..
William D. Sloane,
Gustav H. Schwab.
Frank Lyman,
TI?USTEES.
JOHN A. STEWART. Chairman of the Board.
Payn, Whitney,
James Stillman.
Edward W. Sheldon.
John Clank',
John J. Phelps,
Chauncey Keep,
George L. Rives,
. Lewis Cass Ledyard,
Lyman J. Gage,
Arthur C. James,
forD,.iacott
*
$2,000,000.00
13,910,317.80
-
ESTABLISHED 1894
William M. Kingsley,
William Stewart Tod.
Ogden Mills,
Egerton L. Winthrop,
Cornelius N. Bliss Jr.
C:upineerti
Railway, Lighting, Power,
Water, Gas, Irrigation
Construction Operation
Reports
115 BROADWAY, NEW YORK
NEW ORLEANS
SAN FRANCISCO
J. G. WHITE & CO.,In c.
Largest Institution of its kind in New Jersey
Engineers, Contractors
FIDELITY TRUST COMPANY
Investigations and Reports on Electric
Railway, Gas. Electric Light and Power
Properties. ecc.. for Financial Institutions and Investors.
Prudential Bldg., NEWARK, N. J.
Electric Railways, Electric Light and
Power Plants, Gas Plants, Financed,
Designed and Built.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
43 Exchange Place, - NEW YORK
Chicago
San Francisco
London Correspondents:
J. G. WHITE &
Limited,
9 Cloak Lane. Cannon St.. E. C.
co.,
Title, Banking, Savings, Bond, Mortgage,
Trust and Safe Deposit Departments.
Correspondence Invited
s.BARSTOW a
co.
incorporated
The Union Trust Company of New York (established in 1864) has
for many years made a specialty of Personal Trusts—under Will or under
Agreement—and maintains a carefully organized department for handling them
Many millions of dollars worth of property—real and personal—have
been entrusted to the company by conservative people, residents not only of
New York State but of other states in which the Union Trust Company is
authorized to do business,
Correspondence or interviews with persons considering the formation of
trusts of any kind—for themselves or for others—are solicited.
UNION TRUST COMPANY, 80 Broadway
CAPITAL and SURPLUS
$8,900,000
Mellon National Bank
PITTSBURGH, PA.
8-26
Assurance of safety, perfect service and 3%
interest on reserve accounts are offered to corres=
pondents of this bank. Your account is invited.
RESOURCES OVER 50 MILLIONS
L. F. DOMMERICH & CO.
NEW YORK
Cf3neral Offices, 57 Oreere Street
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
DISCOUNT AND GUARANTEE SALES FOR MANUFACTURERS,
AGENTS AND OTHERS
CARRY NO GOODS FOR OWN ACCOUNT
Established over 60 Years
CONSULTING and
CONSTRUCTION ENGINEERS
PUBLIC SERVICE PROPERTIES
FINANCED and MANAGED
50 Pine Street
New York
C. G. YOUNG
Engineering and Construction
Plans, Methods, Operation
Public Utilities and Industrials
Reports for Financing
14
WALL ST.,
NEW YORK
Established 1889.
A. L. REGISTER & CO.
ENGINEERS CONTRACTORS
Philadelphia
iyantmo gtxpinetvs.
MINES MANAGEMENT CO.
CONSULTING MINING ENGINEERS
Managers of Mining Properties
NEW YORK.
60 BROADWAY. - 28 and 29 St. Swithins Lane.
LONDON, E 0.. ENGLAND.
Avenida 18 De Septiembre. Nuns. 45.
MEXICO. D. F., MEXICO.
H. M. CHANCE & CO.
Mining Engineers and Geologists
COAL AND MINERAL PROPERTIE8
Examined, Developed, Managed
Drexel Bldg..
PHILADELPHIA. PA,
GEO. B. EDWARDS
Tribune Building, NEW YORK. N. Y.
Tel. 4218 Beekman.
Good References
Negotiations,Investigations,Sottlementa
Purchases of Property, Information
In New York City or anywhere.
@FedFRASER