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Tfif
JJNIV. OFt/BRARy;
MlCff. *
Ml li f9te
.
ommttrial f
INCLUDING
Bank &
Quotation Section
Railway Earnings Section
Railway & Industrial Section
Electric
Bankers’ Convention Section
State
Copyrighted in 1910 by William B. Dana Company, New York.1
NEW
VOL. 91.
Entered at N. Y. Post Office
gittattcial.
THE FARMERS’ LOAN & TRUST
COMPANY
Harvey Fisk & Sons
NEW
depositary for
paid Into Court, and Is authorlaedjto act as Executor, Administrator,
Trustee, Guardian, Receiver, and in all
other fiduciary capacities.
Acts as Trustee under Mortgages made
by Railroad and other Corporations, and
as Transfer Agent and Registrar of Stocks
and Bonds.
Reoeives deposits upon Certificates of
Deposit, or subject to check, and allows
Interest on daily balances.
Manages Real Estate and leads money
bond and mortgage.
Will act as Agent in the transaction of
an
any
YORK
Government,
Railroad
and
Municipal Bonds
The Company Is a legal
approved financial business.
Depositary for Legal Reserves of State
Banks and also for moneys of the City of
New York.
Fiscal Agent for States, Counties and
Cities.
16-22 WILLIAM STREET
LIBERTY
NATIONAL
BANK
OF NEW YORK
PHILADELPHIA, represented by
JAMES H. CHAPMAN. 421 Chestnut St.
CHICAGO, represented by D. K. DRAKE,
218 La Salle St.
BOSTON, MASS., represented by
JOHN B. MOULTON, 39 Congress St.
The National Park Bank
of New York
139 BROADWAY
N. W. HARRIS A CO
BANKERS
Organized 1858.
Capital
Surplus and Profits
Deposits June 30,1910
.
.
$3,000.000 00
10,171,759 27
117,757,107 36
.
RICHARD DELAFIELD,
President.
GILBERT G. THORNE,
Vice-President.
JOHN O. McKEON.
Vice-President.
JOHN C. VAN CLEAP,
NEW YORK
MAURICE H. EWER,
Vice-President.
Cashier.
PARIS
THE
INVESTMENT SECURITIES
475 FIFTH AVENUE
LONDON
NO. 2350
financial.
BANKERS
out the world
moneys
second class mail matter.
as
YORK, JULY 9 1910.
gitumcial.
Foreign Exchange, Cable Transfers,
Letters of Credit Payable through¬
Railway Section
and City Section
WILLIAM O. JONES.
WILLIAM A. MAIN.
Asst. Cashier.
Asst. Cashier.
FRED’K O. FOXCROFT, Asst. Cashier.
Pine Street, Corner William
NEW YORK
35 Federal St., Boston
Receive deposits subject to check
allow
Interest on balanoes.
and
Act
as
palities
letters
fiscal
and
of
agents for munici¬
corporations. Issue
credit
and
deal
In
BONDS FOR INVESTMENT
LIST ON APPLICATION
Members of Richmond and Baltimore Stock
Exchanges.
John L. Williams & Sons
BANKERS
Edward B. Smith & Co.
THE
Corner 9th and Main Streets
RICHMOND, VA.
MECHANICS AND
METALS
NATIONAL BANK
altimore Correspondents:
MIDDENDORF, WILLIAMS A CO.
BANKERS
INVESTMENT SECURITIES
Members New York and Phlla. Stock Exchanges
33 Wall Street
GARFIELD NATIONAL BANK
Fifth Avenue Building
Corner 5th Ave. and.23rd St., New York.
Capital,$1,000,000
Philaddph
N. E. Cor. Broad & Chestnut Sts.,
Capital,
Surplus,
-
-
-
$6,000,000
-
27 Pine Street, New York
6,000.000
Surplus, $1,000,000
RUBL W. POOR, President
JAMES McCUTCHEON, VJoe-Pres.
WILLIAM L. DOUGLASS, Cashier
ARTHUR W. SNOW. Asst. Cashier
ORIGINAL CHARTER 1829
THE
Chase National Bank
Clearing House Building
Cap. & Surp.. 912.028.362
Dep.. 9106.703.942
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
A. B.
HEPBURN. President
A. H. Wiggin. V.-Pres. C. C. Slade. Asst. Cash.
S. H. Miller. V.-Pres.
E. A. Lee, Asst, Cashier.
H. M. Conkey, Cashier W. E. Purdy. Asst. Cash.
A. C. Andrews. Asst. Cashier
THE
OF RAILROAD, GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
109-111 SOUTH FOURTH STREET
PHILADELPHIA
NATIONAL
BANK
OF THE CITY OF NEW YORK
—CORNER NASSAU AND PINE
STREETS—IS
MERCANTILE ACCOUNTS
First National Bank
of
ESPECIALLY
ARRANGED FOR HANDLING
Capital
Surplus and Profits (earned)
-
$1,000,000
2,450,000
OFFICERS
EQUIPMENT OF THE
FOURTH
OF THE CITY OF NEW YORK
315
SAMUEL WOOLVERTON, President
ADRIAN ISELIN JR.. Vice-President
GEORGE E LEWIS. Cashier
HOWELL T. MANSON. Assist. Cashier
Philadelphia
CHESTNUT
ACCOUNTS
STREET
INVITED
DIEECT0ES
Adrian Isciln Jr.
Chas. A. Peabody
Woolvertcn
Frederic W. Stevens
Swnuel
Alexander H. Stevens
Charles H. Tweed
W. Emlen Roosevelt
Thomas Denny
THE CHRONICLE
u
XstxIUKS attfl
Coppell & Co., Kidder, Peabody & Co.,
DOMESTIC AND FOREIGN BANKERS
Wall Street. Corner of Broad
52 WILLIAM STREET
NEW YORK
NEW YORK
DREXEL & COn
PHILADELPHIA
Corner of Oth and Chestnut Streets
HORGAN, GRENFELL & CO* LONDON
;
of Credit
Letters
PARIS
Deposits received subject to Draft
Securities bought and sold on Commission
Interest allowed on Deposits
Foreign Exchange, Commercial Credits
Cable Transfers
(Brcular Letters for Travelers available In all parts
of the world
of
Union
&
London
FOREIGN EXCHANGE.
Bank,
Smiths
Limited,
LETTERS OF CREDIT
Correspondents of
And Its Branches.
BARING
Agents for the Bank of Australasia, the British
Gu1 ; a Bank, Demerara, etc., etc.
TRAVELERS’ LETTERS OF CREDIT
Available throughout the United
BROTHERS
PHILA.
NEW
YORK.
BOSTON.
No. 23 NASSAU
Members New York Stock Exchange.
Mems. N. Y., Phlla., Boston & Balt. Stock Exch’s.
Agents and Correspondents of the
Buy and sell first-class Inmission.
on com-
Receive accounts
I nT/PCf’mPnt
Aiiv
United
United
Buy and sell Bills of Exchange
•LrfCtLCrS
DRAW BILLS OF EXCHANGE AND MA&1
for Travelers
TELEGRAPHIC TRANSFERS OF MONEY
Available in all parts of the world.
EUROPE AND CALIFORNIA
Draw Bills of Exchange and make Telegraphic
Transfers to EUROPE, Cuba, and the
other West Indies, Mexico and California.
Execute
orders
for
the
purchase
sale
and
of
Bonds and Stocks.
and make cable transfers on all
Issue Commercial and
f\4- ( rpHlf Travelers’ Credits, available In
>JlLUllaii parts of the world.
t
Letters of Credit for Travelers,
Available in all Parts of the World
ISSUE LETTERS OF CREDIT
OCCUITtlCS
States on foreign countries, including South Africa.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT.
Buy and Sell Investment Securities
London, Paris and Vienna.
_
points.
•
BROWN, SHIPLEY & CO.. LONDON
Seligman Brothers, London
Seligman Freres & Cie., Paris
Alsberg, Goldberg & Co., Amsterdam
The Anglo and London •Paris National
Bank of San Francisco, Cal.
Graham, Vaughan & Co.,
44 Pine Street, New
York.
BANKERS
TAILER&CD
IRedimmd
INVESTMENT SECURITIES
27 Pine Street. New York
MEMBERS NEW YORK STOCK
EXCHANGE
BANKERS
31-33 Fine Street, New York
624 Fifth Ave.. N. Y.
Lawrence Turnure & Co.
BANKERS
YORK
Issue
Messrs. ROTHSCHILD.
_
of Banks, Bankers, Corpora- n
tlons. Firms and Individuals
on favorable terms.
Collect
drafts drawn abroad on all points In the
States and Canada: and drafts drawn In the
T
BANKERS
STREET.
Connected by Private Wire.
vestment Securities
LTD.
Seligman & Co.f
NEW
BANKERS,
ALEX. BROWN & SONS, BALTIMORE.
GO.
States
August Belmont & Co.,
59 Wall Street
&
LONDON
J. & W.
Brown Brothers &, Co.,
■
INVESTMENT SECURITIES.
London,
Messrs. Mallet Freres & Cie., Paris.
Banco Nacional de Mexico
31 Boulevard Haussmann
/
BANKERS
on
HARJES & CO*
STREET, BOSTON
STREET, NEW YORK
56 WALL
Exchange, Telegraphic Transfers,
No. 22 Old Broad Street
MORGAN,
115 DEVONSHIRE
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
Issue Loans.
Billt of
LXXXXI.
at Eavitign fgsjcfomfipc.
wev»
I. P. MORGAN & CO. Maitland,
[VOL.
507 Chestnut Street. Philadelphia.
Cables "Mimosa."
Bankers
INVESTMENT
SECURITIES
Members erf the New York Stock Exchange
64-66 Wall
Letters
Street, New York
Deposits received subject to draft. Interest al¬
lowed on deposits.
Securities bought and sold on
commission. Travelers’ credits, available through¬
out the United States, Cuba, Puerto Rico, Mexico.
Central America and Spain. Make collections In and
drafts and cable transfers on above countries.
issue
Winslow, Lanier & Co.,
London Bankers:—London Joint-Stock Bank.
Limited.
Paris Bankers:—Heine & Co.
NEW YORK
Produce
BANKERS
Bills of Exchange and Cable Transfers.
Deposits
received
subject
Interest allowed
on
to cheque
deposits.
and
Members New York Stock Exchange.
Securities bought and sold on commission.
Act
as
Fiscal Agents.
Dealers In High-Grade Investment Securities.
59 CEDAR STREET
NEW YORK
of Credit and Travelers’ Cheques,
available the world over.
Lists upon application.
Exchange Bank
BROADWAY. Corner BEAVER ST.
Deposits Received
Subject to Draft.
Interest
Allowed on
Deposits. Securities
Bought and Sold on
Commission.
Foreign Exchange.. Letters of Credit
Kean, Taylor & Co.
Capital
Surplus earned
Foreign
Exchange
-
•
-
-
$1,000,000
500,000
bought
sold.
and
Cable
Transfers.
Commercial and Travelers’ Letters of
Credit available In all parts of the world.
ACCOUNTS INVITED
BANKERS
435 Chestnut Street
PHILADELPHIA
HEIDELBACH, ICKELHEIMER & CO.
BANKERS.
37 William Street.
BANKERS
Graham & Co.
Government
Securities
and
Municipal Bonds,
Railroads, Street
Railways and Gas companies
of
of established value.
MEMBERS N. Y. STOCK EXCHANGE.
30 PINE
Transact
a
STREET, NEW YORK
General Foreign and Domestic
Banking Business
Dealers in Investment Securities
John Munroe & Co.,
NEW YORK
BOSTONJj
Letters of Credit for Travelers
Oommerclal Credits.
Foreign Exchange.
Cable Transfers.
MUNROE & 00., Paris
Execute orders for purchase and
Stocks and Bonds.
sale of
Foreign Exchange Bought and Sold.
Act
as
Financial Agents
Issue Foreign and Domestic Letters of
Credit and Travelers’ Cheques
Issue Commercial and Travelers* Credits
available in all parts of the world.
Schulz & Ruckgaber,
BANKERS.
15 William Street,
Members New
-
York
-
-
Stock
-
Knauth, Nachod & Kiihn<
BANKERS
New York
Exchange.
Correspondents of Messrs.
Fruhling & Goschen, London.
John Berenberg-Gossler & Co., Hamburg.
Marcuard, Meyer-Borel & Cie., Paris.
Bremer Bank Fillale der Dresdner Bank,
Bremen.
Issue Commercial & Travelers’ Credits.
Buy and Sell Bills of Exchange.
Cable Transfers & Investment Securities
NEW YOKE
LEIPSIG, GERMAN!
Members New York Stock Exchange.
INVESTMENT
SECURITIES
July 9
1910.]
THE CHRONICLE
MiIlett,Roe&Hager.
Lee, Higginson&Co.
Wm. A. Read & Co.
BOSTON
New York
& CO.
Buildings, Prince’s Street,
LONDON, E. C.
33 Wall Street
New Ytrft
BANKERS.
Dealers In
Members New York, Chicago and Boston
Stock Exchanges.
HIGH-GRADE BONDS
Chicago
HIGGINSON
I Bank
BANKERS
Members New York Stock
Investment Securities
Exchange
Boston, 15 Congress Street
25 NASSAU
STREET,
NEW YORK
Plympton, Gardiner & Co*
BOSTON
BALTIMORE
N. W. HALSEY &.
CHICAGO
LONDON
CO,
Bankers
Members New York and Chicago
Stock Exchanges
BONDS FOR INVESTMENT
Interest Allowed
Conservative Investments
Fiscal
on
Deposit Accounts
Agents for Cities and Corporations
LISTS ON REQUEST
27 William St.f New York
232 La Salle Street,
54 Old Broad Street,
LONDON, E. C.
CHICAGO
40
Rhoades&Company
Wall Street, NEW YORK
Philadelphia
Chicago
San Frandaaa
BANKERS
George P. Butler & Bro.
45 WALL STREET, NEW YORK
85 Wall Street
Members N. Y. Stock Exchange
High-Grade Bonds
Trowbridge & Co.
State,
Municipal
and
NEW YORK
RAILROAD AND OTHER
Railroad
INVESTMENT SECURITIES.
BANKEKS
Members New York Stock
Members New York Stock Exchange; Execute
Commission Orders; Deposits received subject to
draft.
Exchange
H. B. HOLLINS & CO.
Cor. of Wall and Broad Sts.. New York.
Letters of Credit and
Travelers’ Checks
Bonds and Stocks
for Investment
Available
i
Throughout the World
i
HARTFORD—36 Pearl Street
,
NEW YORK
111
BANKERS
60 WALL STREET,
Blake Brothers & Co.
Executes orders for purchase and
saleof Stocksand Bonds.
SO
Buy
14 State Street,
and
Sell
Foreign
New York and Boston Stock
•
Exchange.
Issue
NEW YORK CITY
Private vfiret connecting all offices
DEALERS IN
Securities
and Commercial Paper
Investment
if ambers New York
Zimmermann & Forshay
Wollenberger & Co.
BANKERS
Exchanges
Specialists in
Foreign Government Bonds
BANKERS
Correspondence Invited.
BOISSEVAIN & CO.
9 and 11 Wall Street. New York.
24 BROAD STREET.
Members New York Stock Exchange.
NEW YORK.
Orders executed for stocks and bonds for invest¬
ment or on
Members New York Stock Exchange.
Adolph Boissevain & Co.,
Amsterdam. Holland.
NEW YORK
Transfers
to
all
Parts
1411 Chestnut St.
of
the
World.
43 CEDAR ST., NEW YORK
Exchangee
Investment Securities
•
Shoemaker, Bates & Co.
BANKERS
Philadelphia
Member* New York and Phlla. Stock
34 LaSalle St.
CHICAGO
LEONARD H. HOLB
BANKERS
BANKERS
Members New York Stock
Exchange
and Boston Stock
Exchange.
BOSTON
CHICAGO
Letters of Credit Issaed
CRAMP, MITCHELL & SHOBER
Loans
INVESTMENT SECURITIES
Broadway
BIRD S. COLER
-
INVESTMENTS
also
Ill
‘
margin.
-
W. N. COLER &, CO.
Cable
BANKERS
SB Congress St.
206 La Salle Street
Foreign Exchange Beeght and Sold
AND
BOND & GOODWIN
Corporation and Collateral
Commercial Paper
BOSTON
King Street, West, Toronto, Ont.
4 Hospital Street, Montreal, Que.
10 Federal Life Bldg., Hamilton, Ont.
103 Banlgan Bldg., Providence, R. I.
Commercial and Travelers’
Letters of Credit
COMMERCIAL PAPER
INVESTMENT SECURITIES
A GENERAL BANKING
STOCK EXCHANGE BUSINESS.
74 State Street
Available In all parts of the world.
and other MUNICIPAL BONDS
TRANSACT
17 Broad Street
NEW YORK
Exchanges
20
CABLE ADDRESS “COLDNESS.”
Dealers In
Head & Co.
Members of
BOSTON
& Boston Stock
Issue Letters of Credit for Travelers, abat¬
'Charles
NEW YORK
Members of New York Stock Exchange.
NEW YORK
Mexico.
Goldman, Sachs & Co.
134 Orange St.
Exchange Place,
Exchange and mako Cable
able in all parts of the world.
NEW HAVEN
Broadway
Draw Bills of
Transfers to Europe, Asia, Australia, Sli
West Indies, Central and South America and
fNew York Stock Exchange
Members! New York Cotton Exchange
l Chicago Stock Exchange
INVESTMENT SECURITIES
37-43 Wall Street, New York
Waldorf-Astoria and 500 Fifth Ave., New Vast
Real Estate Tr. Bldg., Phlla.
[Yol. lxxxxi
THE CHRONICLE
IT
tfanadtxn.
%0XtiQU.
DEUTSCHE BANK
BERLIN. W.
89 CORNHILL.
Telegraphic Address, Udlsoo, London.
Behrenstrasse 9 to 18.
\
CAPITAL.
M.
The Union Discount Co. BANK OF MONTREAL
(Established 1817)
of London, Limited
CAPITAL paid in - - $14,400,000 00
047.619.000 Capital Subscribed
Paid-Up—
086.172.895 Reserve Fund
200.000.000.
RESERVE
$5=£1 STERLING.
M. 105.720.104.
Dividends paid
during last ten yean:
12, 12. 12 H per oent
11; 11. 11, 11. 12. 12. 12,
NOTICE IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
deposit are as follows:
At Call. 1H
MB1CEN, DRESDEN. FRANKFORT-O-M..
HAMBURG,
LE1PSIC.
MUNICH.
NUREMBURG, AUGSBURG,
WIESBADEN.
BRUSSELS, CONSTANTINOPLE
and the
London Agency
Lombard St.!
4 George Yard,
Per Cent.
At 8 to 7 Days’ Notice,
Branches:
Deutsche Bank (Berlin)
$7,500,000
8.750.000
8,800,000
REST
12,000,000
UNDIVIDED PROFITS,
681,561
Head Office—Montreal
Rt. Hon. Lord Strathcona and Mount Royal.
G. C. M. G.. G. C. V. O.—Honorary President.
Hon. Sir George Drummond.
K. C. M. Q.. C. V. O.—President
Sir Edw. Clouston. Bart.—V.-Prea. & Gen Mgr.
NEW
R. Y. HEBDEN,
1
W. A. BOG,
I Agents.
J. T. MOLINEUX.J
from time to time, and
negotiable securities.
CHRISTOPHER R. NUGENT. Manager.
Buy and sell Sterling and Continental Exchange
The London City &
Midland Bank, Limited,
and Cable Transfers; grant Commercial and Trav¬
elers’ Credits, available In any part of the world:
issue drafts on and make collections In Chicago and
throughout the Dominion of Canada.
London Office. No. 46 & 47 Threadneedle St.
F. W. TAYLOR, Manager.
HEAD OFFICE
Merchants’ Bank of Canada
6 Thread nee die Street, London. England.
BANCO ALEMAN TRANSATLANTIC!)
(Deutsche Ueberseelsche Bank.)
SUBSCRIBED CAPITAL
M. 30,000,000.
PAID-UP CAPITAL
M. 22.500.000.
(07.148.000)
RESERVE FUND
(01.625.000)
(05.867.000)
-
6.827.000.
HEAD OFFICE
M.
With
HEAD OFFICE MONTREAL
Branches In all the Principal Cities and
England and Wales.
Towns of
Telegraphic Address: Cinnabar, London.
ESTABLISHED 1836
$6,000,009
4,602.157
NEW YORK OFFICE, 63 and 65 Wall St.
W. M. RAMSAY. lAgents.
CAPITAL
Rest and Undivided Profits
-
c. j. crookalLj
143 branches In the Provinces of Quebec, Ontario,
SUBSCRIBED CAPITAL, $95,741,700 Manitoba, Saskatchewan, Alberta and British
Good facilities for effecting prompt eelPAID-UP CAPITAL, - - 19,946,187 Columbia.
lections in Canada. Buy and sell Sterling Exchange
RESERVE FUND,
-
17,951,568
-
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available in any part of the world.
Agents—Royal Bank of Scotland.
London
Sir EDWARD H. HOLDEN. Bart..
Chairman and Managing Director.
BERLIN
Kanonlerstrasse 20 to 30.
Canadian Bonds
Buenos
OHILI: Antofagasta. Concepcion,
YORK OFFICE,
No. 64 WALL STREET
The Company discounts approved bank and
mercantile acceptances, receives money on de¬
LONDON, E. 0.
Branches:
ARGENTINA: Bahla-Blanca,
Cordoba. Tucuman.
BOLIVIA: La Paz. Oruro.
_
_
1H Per Cent.
posit at rates advertised
grants loans on approved
00
44
Aires,
MUNICIPAL AND CORPORATION
WOOD, GUNDY & CO.
Berliner
Igulque.Osorno,
Santiago, Temuco, Valdivia, Valparaiso.
PBRU: Arequipa, Callao, Lima, Trujillo.
URUGUAY: Montevideo.
SPAIN: Barcelona, Madrid.
Bills tent for collection, negotiated or
Handels-Gesellschaft,
CANADA
TORONTO
BERLIN, W., 64
advanced upon.
Behrenstrasse 32-33 and Franzoslsche-Strasse 42
Draft*, cable-transfer* and letters
of credit issued.
London Agents
©EUTSCHE BANK (BERLIN) LONDON AG'Y
GEORGE Y'D. LOMBARD ST., LONDON. E.C.
Telegraphic Address—Handelschaft, Berlin
W. GRAHAM BROWNE & CO.
MONTREAL
CANADA
-
ESTABLISHED 1856
Canadian Bonds Bought,
Sold and Appraitod
Banking Transactions of Every Description
Direction der.
Disconto-Gesellschaft,
ESTABLISHED 1851
Capital,
-
-
-
-
M.110,000,000
Reserve,
-
-
-
-
M. 34,500,000
VAN OSS & CO.
THE HAGUE, HOLLAND
BERLIN W. 43-44 Behrenstrasse
BREMEN. FRANKFORT-o-M., MAINZ.
Place American Investments in Europe
HOCHST-o-M.. HOMBURG v. d. H.,
Swiss Bankverein
POTSDAM. WIESBADEN.
LONDON. E. C..
Schweizerischer
58 Comhill.
Bankverein
Bankverein Suisse
Basle, Zurich, St Gall, Geneva
BAPITAL, fully paid,
$40,476,200
-
$15,000,009
Reserve Fund]In Gold-..$15,000.0001.... 30,600.000
$14,307,764
M.
60,002.611.
LONDON OFFICE, 43 Lothbury,
E. C.
With the unlimited personal liability
of the following partners:
A. SCHOELLER,
I
M. SCHINCKEL.
DV. A.SALOMONSOHN.
E. RUSSELL.
F. URBIG,
Brasilianische Bank
fUr Deutschland
Capital paid
Surplus,
M. 10.000.000 00
Head office: HAMBURG.
Branches: RIO DE JANEIRO, SAO PAULO,
SANTOS, PORTO ALEGRE, BAHIA.
Bank fur Chile und
Deutschland
ITAL
M. 10.000.000 00
WITH
BRANCHES
IN
CHILE
(BANCO DE CHILE Y ALEMANIA), ANTOFA¬
GASTA. CONCEPCION, SANTIAGO, TEMUCO,
VALDIVIA, VALPARAISO, VICTORIA; AND
IN BOLIVIA (BANCO DE CHILE Y ALEMANIA. SECCION BOLIVIAN A), LA PAZ
AND ORURO.
LONDON
DIRECTION
DER
AGENTS:
DISCONTO-GESELL¬
SCHAFT. 53, CORNHILL, E. Cr
up,
.
....
Frs.62,800,000
Frs. 16,330,000
lln Silver._ 15,500.000f
Reserve Liabilities of Proprietors
15,000,009
GRANT DRAFTS. ISSUE LETTERS OF CREDIT,
NEGOTIATE OR COLLECT BILLS PAYABLE IN
CHINA. JAPAN. PHILIPPINES. STRAITS SETTLEIIITVTQ
1
INDIA
WADE
GARD'NFR,
Agent. 36 Wall
Wiener Bank
The
National Discount
Company, Limited
CAPITAL
BANKING CORPORATION
Paid-up Capital (Houg Kong Currency)
■E8E&VE
HAMBURG,
Hong Kong & Shanghai
Agencies at Rorschach, Chlasso and Herlsau
M. 170,000,000.
A
Tel. Address, Voco.
Hartfield’s Wall St., W. U. & Lleber.
Codes:
35 CORNHILL.
...
LONDON. E. C.
Cable Address—Natdls: London.
Subscribed Capital
...$21,166,625
Paid-up Capital
4,233,325
Reserve Fund
2,160 000
($5= £1 STERLING.)
NOTICE
IS
HEREBY
GIVEN
that the
RATES OF INTEREST allowed for money on
deposit
are as follows:
At Call. 1H Per Cent Per Annum.
At 3 to 7 or 14 Days’ Notice, 1H Per
Cent.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
from
time to
time and
for
fixed
periods upon
specially agreed terms.
Loans granted on approved negotiable securities.
PHILIP HAROLD WADE. Manager.
St.
Verein
-
ESTABLISHED 1869
CAPITAL
(fully paid)
$26342,00$
-
-
(130.000,000 crowns)
RESERVE FUNDS
-
$7,900,00$
(39,000,000 crowns)
vs
-
-
HEAD OFFICE VIENNA
Branches in
(AUSTRIA
Austria-Hungary:
Agram, Aussig a~E., Bielitz-Biela,
Brunn, Budapest, Carlsbad, Czernowitz, Friedek-Mistek,*Graz, Innsbruck,
Klagenfurt, Krakau, Lemberg, Marienbad, Meran, Pilsen, Prag, Przemyel,
Prossnitz, St. Poiten, Tarnow, Teplitz,
Teschen, Villach, Wr. Neustadt
Branch in Turkey
Constantinople
July 9
THE CHRONICLE
1910.]
©auaultan.
$*tt!uvs.
THE CANADIAN BANK
OF COMMERCE
HEAD OFFICE,
PAID-UP CAPITAL
-
SURPLUS
TORONTO
*10.000,000
6.000.000
NEW YORK OFFICE:
Mackay & Co.,
Edward Sweet & Co.
AND 18 EXCHANGE PLACE
Wm. Gray and C. D. Mackintosh. Agents
Nos.
BANKERS
16
Members N. Y. Stock
Buy and Sell Sterling and Continental Exchange and Cable Transfers. Commercial and
Trareler’s Credits. Collections made at all points.
Exchange
Bankers & Brokers
High-Grade Bonds and other
Investment Securities. In¬
terest allowed on deposits.
34 PINE STREET
BANKERS IN aREAT BRITAIN.
The Bank of England.
The Bank of Scotland.
Lloyd’s Bank. Limited.
Union of London and Smith’s Bank. Limited.
i
i
Members of the New York
Stock Exchange. Dealers in
Banking and Exchange business of every de¬
scription transacted with Canada.
LONDON OFFICE—2 Lombard Street. E.O.
..
"■
NEW YORK
National
City Bank Building
55 Wall Street
ESTABLISHED 1854
NEW YORK
The Bank of
British North America
Established in 1836
Incorporated by Royal Charter In 1840
£1.000.000 Sterling
Paid-up Capital
ESTABROOK & CO.
600,000 Sterling
Reserve Fund
BANKERS
Electric Light, Power and Street
Head Office:
S Graoechurch
Street. London. E.C.
New York Office: 62 Wall Street.
H. M. J. McMICHAEL.l Agents.
W. T. OLIVER.
J
Buy and sell Sterling and Continental Exchange
and Cable Transfers.
Grant Commercial and
Travelers’ Credits, available In any part of the
World.
Issue Drafts on and make Collections
M all parts of the United States and Canada.
Members New York and Boston
Stock Exchanges
WE OFFER
15 State Street,
HARTFORD
BOSTON
-
NEW YORK
BALTIMORE
CHICAGO
R. L. DAY & CO.
W. E. STAVERT.
Vice-President.
G. W. FARRELL. Secretary-Treasurer.
A. H. B. MACKENZIE. Manager.
37 Wall St
C. R. HOSMBR
O. B
Proven
Investment Dealers
Public Utility Securities
and
Correspondence Solicited
*
(PUd-Up Capital and Surplus, S4.9M.IM)
71 BROADWAY
BOSTON
Travelers' Cheques and Letters of Credit
INVESTMENT
GORDON
Munlolpal and Railroad
MONTREAL
NEW YORK
Congress St
HGI-GRADE INVESTMENT BONUS
Capt. D. C. NEWTON (Montreal)
H. ROBERTSON
35
NEW YORK
DIRECTORS:
ALFRED BAUMGARTEN
Bankers
ELECTRIC BOND & SHIRE Cl.
Bud Brokers aid Fnaicial Aleuts
OB AS. MEREDITH.
President.
Railway Enterprises with records
established earnings
of
INVESTMENT SECURITIES
24 Broad Street,
C. Meredith & Co., Limited
WE FINANCE
Members New York and
Boston Stock Exchanges
Canadian
Investment Securities
Interest
on
SECURITIES
Deposits Subject to Check
Bigelow & Company
BANKERS
49 Wall Street
New York
Tucker, Anthony & Co.
CORRESPOXDEXCE SOLICITED
DOMINION SECURITIES
CORPORATION, LIMITED
Toronto
Montreal
BANKERS & BROKERS
BANKERS
94 BROAD STn
NEW YORK
MS STATS ST..
BOSTON
NORWICH
NEW BEDFOBD
London, Eng.
BERTRON, 6RISC0M & JENKS
Members Boston .and New
York Stock
Exchanges.
Land Title Building,
PHILADELPHIA.
HUNT A, CUSHMAN
INVESTMENT TRUST CO.
LIMITED
INVESTMENT SECURITIES
Investment Securities
BANKERS.
44 and 46 Watt
35 Congress
Trustees-Transfer Agents
Alfred Mestre & Co.
P. J. GOODHART 6, CO.
Corporation Bonds
BANKERS
Bankers
CANADA
87
BROADWAY
NEW YORK
-
Telephone 2240 Rector
826 Walnut St. Cincinnati
Bank and Trust Co. Stocks
MODENPYL, WALBRIDGE & CO.
St., N.w York
D. H. Schmidt & Co.
Members
Railroad, Street Ry., Oaa ft Elec. Light
Letters of Credit.
St.f BOSTON
BOND DEPARTMENT
7 Wall
Street, New York*
INVESTMENT SECURITIES
Bills of Exchange.
MONTREAL
NEW YORK.
H. AMY & CO.
THE
Canadian
40 Wall Street.
Now York Stock Exchange.
Investment Seourltlea
SECURITIES
ST
WILLIAM
STREET'
Members of the New York
Stock
Exchange.
Dealers
in Municipal, Railroad and
Equipment Bonds.
Interest allowed on deposits
Subject to Draft.
37 Wall St.
NEW
YORE
NEW YORK;
\
130 8.15th 81.
PHILADELPHIA
THE CHRONICLE
▼I
[VOL. LXXXXI.
2«mfe«KS and I&koKzks OWtsldc ©jet** gjCrxfc.
PITTSBURGH.
LOUISVILLE.
PITTSBURGH SECURITIES
J. J. B. HILLIARD & SON
PORTLAND, ORE.
LOUISVILLE, KY.
ROBINSON
Mem
BANKERS AND BROKERS
BROS.,
INVESTMENT BONDS
New York and Pittsburgh
Stock Exchanges
oers
PITTSBURGH, PA
STREET RAILWAY SECURITIES
A
STOCKS AND BONDS
INVESTMENT SECURITIES
SAN FRANCISCO.
LOUISVILLE, KY
J. C. WILSON
(NO STOCKS)
J. S. & W. S. KUHN
NASHVILLE.
Incorporated
Pittsburgh, Pa.
HENRY S. FRAZER
Local Stocks and Bonds
L. L. M'CIelland,
Sec. & Treas.
PAID-UP CAPITAL. $600,000
INVESTMENT SECURITIES
CHILDS & CHILDS
STOCKS AND
SECURITIES.
JOHN W. DICKEY
AUGUSTA. GA
Singer Bldg.
Southern
WANTED
Philadelphia Stock Exchange.
WILLIAM
SOUTHERN
MUNICIPAL BONDS
&. CO.
Philadelphia.
HUNTOON
THE ROBINSON - HUMPHREY CO.
ATLANTA, GEORGIA
Specialists in
INACTIVE
421 Chestnut St.,
SECURITIES
-
Philadelphia. Pa.
E. B. JONES
&
CO.
BONDS
Land Title Bldg.
Exchange
James H. Adams & Co.
MUNICIPAL AND PUBLIC SERVICE
CORPORATION
They yield
the
a
higher rate of interest than bonds of
merit issued in the East.
same
Correspondence Invited.
LOS ANGELES. CAL.
YIELDING 4X% TO 5tf%
f PHILADELPIA STOCK EXCHANGE
EMBERS'! NEW YORK STOCK EXCHANGE
l CHICAGO BOARD^OF TRADE
&.
BUSH
ATLANTA.
Chestnut and Third Sts.,
REED
E.
SAN FRANCISCO
Member The Stock and Bond
CALIFORNIA BONDS
proposed Investments.
w. sparks
Requests for Information
LOS ANGELES.
AUGUSTA, GA.
PHILADELPHIA
Investments receive our special attention.
In¬
formation cheerfully furnished regarding present
~J.
Invite
and Stocks
STOCK AND BOND BROKERS
or
PACIFIC COAST SECURITIES
1st Nat. Bank Bldg..
Offerings of Southern Bonds
H. S, HOPPER,
Win, G. Hopper & Co.
holdings
Wakefield, Garthwaite & Co.
We
PHILADELPHIA.
28 South Third Street,
Merchants’ Exch. Bldg.
H. W Heilman Bldg.
San Francisco.
Los Angeles.
Lumbermen’s Bldg., Portland
Securities
INVESTMENT SECURITIES
Members of
BARROLL & CO.
BROKER
NEW YORK
W. G. HOPPER,
LOS ANGELES
Branch. Coronado Hotel, Coronado Beach.
Correspondents,
Harris, Winthrop & Co., New York & Chicago.
BONDS
Taylor & Company
168 Fourth Ave.
TENN.
AUGUSTA.
PITTSBURGH, PA.
and
BONDS
NASHVILLE.
Union Bank Building.
PITTSBURGH
SAN FRANCISCO
Bankers and Brokers
New York and Pittsburgh Stock Exchanges
and Chicago Board of Trade
H. P.
(New York Stock Exchange.
MEMBER!Chicago Board of Trade.
(.Stock and Bond Exchange. S. F.
Private Wire to Chicago and New York.
THOS. PLATER & CO.
Members
INVESTMENT
BONDS
Specialty
PACIFIC COAST SECURITIES A SPECIALTY
We Buy and Sell
President.
Municipal and Corporation
John W. & D. S. Green
INVESTMENT BONDS
of
PHILADELPHIA
Correspondents: WALKER BROS., 71 B'way. N. Y.
ESTABLISHED 1863
James S. Kuhn,
MORRIS BROTHERS
PORTLAND
Joseph Ball Company
Orders
executed
for
the
purchase and sale of
WE OWN AND OFFER
BONDS AND STOCKS
MUNICIPAL, BONDS
Members Los Angeles Stock Exchange
Yielding 4H% and upwards
433-434-435-436-437 SECURITY BUILDING
HILLYER INVESTMENT CO.
ATLANTA,GEORGIA
LOS ANGELES
DENVER, COL
WILLIAM R. STAATS CO.
PHILADELPHIA
Established 1887
CALVIN BULLOCK
NORFOLK, VA.
VSAA^aaMVNAAAlVVVVVVVVWWVWVVVNVVVVVWVWVVVVVVVVVWVVWVVVVVVVV
DENVER
MOTTU & CO.
TRAMWAY
BONDS
Established 1892.
BANKERS
AND
BROKERS
SAMUEL
BURNS JR.
INVESTMENT SECURITIES
Omaha & Council BIuIIb St. Ry.
Omaha Water Company
Nebraska Telephone Company
OMAHA
Otto Marx & Co.
NEBRASKA
BALTIMORE
BROKERS
COLSTON, BOYCE & CO
BIRMINGHAM. ALABAMA.
STOCKS AND BONDS
Members Baltimore Stock Exchange
INVESTMENT BONDS
MEYER & GOLDMAN
SOUTHERN SECURITIES
STOCKS AND BONDS
OFFICES:
MONTGOMERY,!
ALABAMA
Richardson & Clark
JNO. L. NORTON
Local Stocks and Bonds.
86 Madison Avenue,
on
Request
PASADENA
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
MEMBERS
LOS
ANGELES STOCK EXCHANG*
LOS ANGELES.
SEATTLE.
GEORGE H. TILDEN <Sc CO.
MUNICIPAL AND CORPORATION BONDS
iH to 6%
We have bonds which
are tax-exempt in Wash¬
ington, may be used by Washington banks te se¬
cure
County, City or State Deposits netting
SIX PER CENT.
Such bonds of the Pacific
Northwest earn a high rate, and are suitable for
Eastern banks, trustees and private Investors.
PROVIDENCE.
BIRMINGHAM, 1
MEMPHIS.
4% TO 6%
OMAHA, NEB.
BIRMINGHAM, ALA.
AND
TO YIELD
Descriptive Circulars
LOS ANGELES
NORFOLK, VA.
BANKERS
Municipal and Corporation Bonds
CITY
-
-
26
Exchange Street, Providence, R. I.
Bonds, Stocks
and Local Securities.
Private wires to Boston, Philadelphia
TENN. and New York.
S. C. OSBORN & CO.
Arctic Club
Bldg., SEATTLE
STOCKS, BONDS, GRAIN, COTTON
Travelers may have orders executed with thely
own broken over our wires ,n 1 to 2 minutes
Day and Night Safe Deposit Vault in
nection that <■ never closed
con¬
July 9
THE CHRONICLE
1910.]
TO
gatihzxs and grakers outside ||e*o ^osli.
CHICAGO.
CLEVELAND.
GREENEBAUM SONS
BANKERS
ST. LOUIS.
FRED. S. BORTON
T. E. BORTON
R. C. ENWRIGHT
BORTON
&
BORTON
INVESTMENT SECURITIES
LISTED AND UNLISTED
Corner Clark and Randolph Streets. Chicago.
High-Grade Investment Securities.
STOCKS AND BONDS
Chicago First Mortgages and Bonds for sale.
OF CLEVELAND AND NORTHERN OHIO
MEMBERS CLEVELAND STOCK EXCHANGE
Issue Letters of Credit for travelers,
all parts of the World.
available In
A. G. EDWARDS & SONS
1 WALL ST.
C ]
GUARDIAN BUILDING
In St. Louis at 410 Olive 8t.
A General Domestic and Foreign Banking Business
j
Correspondence Solicited.
Hayden, Miller & Co.
WANTED
Harris & Co.
F.
Sanford
DIVESTMENT SECURITIES
THE
Investment Bonds
MISSISSIPPI GLASS
Citizens’ Building.
CLEVELAND. OHIO
First
ROOKERY
Mortgage 6sa 1924
CHICAGO
CINCINNATI.
A. O.
Slaughter & Co.,
BANKERS & BROKERS
139 MONROE STREET.
CHICAGO,
New
New
New
New
ILL.
York Stock Exchange,
York Cotton Exchange.
York Coffee Exchange,
York Produce Exchange.
Chicago Stock Exchange,
Chicago Board of Trade.
St. Louis Merchants’ Exchange.
Members:
Alierton, Greene & King
WEIL, ROTH & CO.
Dealers in
High-Grade Bonds
for Investment
CHICAGO
CORPORATION BONDS
List
The Short, Stanton, Worthington Co.
(Successor to Short, Stanton & Co.)
HIGH-GRADE
COMMERCIAL PAPER
S. W. Cor. Monroe & La Salle Sts..
Chicago.
KANSAS CITY, MO.
H.
.
PRIVATE
300
BOUGHT AND SOLD
Union Trust Building,
McCRUM
INVESTMENT CO.
KANSAS CITY. MO
Kansas City Ry. &
Western Municipals.
Local Securities.
Light Issues.
EDGAR
FRIEDLANDER
DEALER IN
CINCINNATI,
-
-
-
-
-
Twin City Rapid Transit 5s, 1928
Minnesota Transfer Ry. 5s, 1916
St. Paul Gas Light Co. 5s, 1944
City of St. Paul 4Ks
100 Powers
Building
(New York Stock Exchange.
(Rochester Stock Exchange.
(Chicago Board of Trade.
ROCHESTER
Dally Lists Mailed
on
SECURITIES
William R.
Correspondence Invited on
all Northwestern Securities
LOUIS
Stock Bonus
tor particulars
A.
BURGESS
205 LaSalle St.
OHIOAGO
HIGH-CLASS BONDS
DEALT IN
CIRCULARS AND UST ON APPLICATION
<$c/ain ZtiAtle fiCa.
MINNEAPOLIS.
Bldg., St. Paul
PROVIDENCE.
Stevens, Chapman & Co.
ALBERT P. MILLER Jr.
BONDS
PROVIDENCE, B. I.
Local Securities
MINNEAPOLIS—ST. PAUL
M. St. P. & S. Ste. Marie 4s
Duluth Missabe & Northern 5s
South Dakota Central 5s
Minnesota & Ontario Power 6s
Gas, Electric Lighting & Railway
WELLS & DICKEY & CO.
Bonds and Stocks
MINNEAPOLIS, MINN.
Application.
High Class 6% Bonds
Write
ST.
MUNICIPAL
and other
MUNICIPAL
Twin City
JOHN
-
Compton Co.
Mchts.-Laclede Bldg.
ST. LOUIS
Twin City Telephone Co. 1st 5s
INDUSTRIAL TRUST CO. BUILDING
50%
ST.
OHIO
SAINT PAUL.
State Savings Bank
BONBRIGHT & HIBBARD
SPECIALISTS
N. FOURTH
TO
MARKETS
CINCINNATI
ROCHESTER, N. Y.
Members:
WIRES
PRINCIPAL
Municipal and Corporation Bonds
Cincinnati Securities
(INCORPORATED.)
W.
Special Attention to St. Louis Securities
Application
on
Becker & Co.,
A. G.
& CO.
Investment Securities
THE ROOKERY. CHICAGO
RAILROAD, MUNICIPAL AND
WHITAKER
CINCINNATI
BODELL &
CO.
206 TO 209 BANIGAN BUILDING
PROVIDENCE
&
CORPORATION BONDS
Rapid Transit System Bonds
Minneapolis National Bank Stocks
liittattjcial.
Member Rochester Stock
104-105 Wilder Bldg.
Exchange
ROCHESTER N. Y.
BUFFALO.
Bonds and
Preferred
Stocks
of Proven Value.
JOHN T. STEELE
INDIANAPOLIS.
Government, Municipal
and Corporation Bonds
Joseph T. Elliott & Sons
Buffalo and Western New York Securities
HEAT &. POWER COMPANY
GUARANTEED
BUFFALO, N. Y.
SPECIALISTS IN
NATIONAL LIGHT,
BONDS
Investment Securities
Members Indianapolis Stock
American Nat. Bank Bldg.,
...
.
A
A. H. Bickmore & Co.,
BANKERS
Exchange
INDIANAPOLIS
30 Pina Street.
New Yerk
ALBANY, N. Y.
PETER J.
CALLAN
INVESTMENT BANKER
Local, Listed and Unlisted
STOCKS AND BONDS
REAL ESTATE
NEWTON TODD
1 WILL BUY AND SELL
INDIANA TRACTION SECURITIES
Fletcher Bank Bldg..
INDIANAPOLIS
Bank and Trust
Company Stock*
NEW YORK AND BROOKLYN
BOUQHT AND SOLD
CLINTON
2 WALL ST..
GILBERT
NEW YORK.
[Voii. LXXXXI.
THE CHRONICLE
Till
gattfecK5 and
ERVIN & COMPANY
A. B. Leach & Co.,
cm
era
NEW YORK
Exchange,
elphia Stock Exchange.
^
INVESTMENT.
BONDS FOR
140 Dearborn Street,
OF CUBA
BANKERS
(New York Stock
BANKERS
149 Broadway,
NATIONAL BANK
CHICAGO
Drexel Building,
Philadelphia.
Assets
Cash in Vaults
>6.100,000«»
26,700,000 00
HEAD OFFICE—HAVANA
Branches
Long Distance Telephone No. L. D. 107.
28 State Street,
T
5,300,000 00
....
84 GALIANO ST.. HAVANA.
226 MONTE ST., HAVANA.
BOSTON
PRODUCE EXCHANGE. HAVANA
PHILADELPHIA
Chestnut & 4th St.,
PARKINSON & BURR
BANKERS
C. I. HUDSON & co.
Nob. 34-36 WALL ST.,
NEW TOBK.
7 Wall Street
53£State Street
NEW YORK
BOSTON
Stock Exchanges
Members New York and Chicago
750 Main Street
E. W. CLARK & CO.
in all Markets
PRINCIPAL CITIES
BANKERS
No. 30 Nassau Street,
BANK
HAVANA
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vice-President
Interest allowed on deposits.
{^•N£S^Sl BaSk!
New York Correspondents
J. Prentice Kellogg
William A. Larned
Chas. H. Blair Jr.
Frederic Gallatin Jr.
Albert R. Gallatin
John E. Gardxn l
Alvin W. KrechfNew
James H. Post J
York Committee
Acts as Cuban correspondent of American
banks and transacts a general banking business.
Capital, $1,000,000
New York SCHMIDT & GALLATIN
-
OF
76 CUBA STREET
321 Chestnut St,
George P. Schmidt
York Stock Exchange
Specialty.
Sole Depositary for the Funds of the Repubtkfof
Cuba
Member American Bankers’ Association
BANKERS,
SIMON BORG & CO.,
a
PHILADELPHIA
Members Phila. and New York Stock Exchanges.
Members of New
Collections
Cable Address—Banconao
Miscellaneous Securities
WIRES TO
MATANZAS,
SANTIAGO.
CAIBARIEN,
SAGUA LA GRANDE;
CAMAGUEY,
PINAR DEL RIO.
SANCTI SPIRITUS.
CAMAJUANI,
CRUCES,
CIEGO DE AVILA,
HOLGUIN.
NEW YORK AOENCY—1 WALL ST.
HARTFORD
TELEPHONE S070 JOHN.
PRIVATE
CARDENAS,
CIENFUEGOS,
MANZANILLO.
GUANTANAMO.
SANTA CLARA,
Members N. Y. Stock Exchange
HIGH-GRADE
111
Broadway
NEW YORK CITY
INVESTMENT SECURITIES
LADD
&. TILTON
PORTLAND
Thomas L. Manson &Co.
STOCK BROKERS
Members N.
100
Broadway,
-
HEW YORK
HENDERSON & COMPANY
MEMBERS N. Y. STOCK EXCHANGE
Transact
General Banking and Stock
Exchange Business.
a
Tel. 2500 Rector
Private Wires to Boston, Hartford.
and Philadelphia
New Haven
A. M. KIDDER & CO.
Norman S. Walker Jr.
John Y. G. Walker
Ex. Norton
WALKER BROS.
71 BROADWAY, N. Y.
BANKERS
I NASSAU STREET. NEW YORK.
Established 1865
MEMBERS OF N. Y. STOCK EXCHANGE.
Allow Interest on deposits subject to sight check.
Boy and sell on commission stocks and bonds, and
deal In
RAILROAD BONDS
GUARANTEED STOCKS
Members N. Y. Stock Exchange
BANKERS and BROKERS
J. S. Fariee.
W. S. TarbeU.
H. L. Finch.
J. S.FARLEE&CO.
James G. MaoLean
H. G.
Campbell & Co.
11 WALL STREET. NEW YORK
Members New York Stock Exchange
Securities Bought & Sold on Commission
INVESTMENT
11 WALL
SECURITIES
STREET. NEW YORK
PHELPS
VICKERS
>
29 Wall Street. New York City.
Members
of
New
York
Stock
Exchange
MEMBERS N. Y. STOCK
Hanover Bank
11 PINE STREET,
-
Gash orders only
in stocks accepted
EXCHANGE
Simpson, Pearce & Co.
Building
NEW YORK
1910
1852
Jas. B. Colgate &
Co.
Members New York Stock
Exchange
Telephones
111 BROADWAY
4490 1-2-3-4 Rector
NEW YORK
Investment
Bonds.
E. & C.
Members
Ill
W. H. Goadby &
Co.
NEW YORK
New
Randolph
York
Broadway,
Stock
New
Exchange.
York.
Open Market Securities Department
HORACE HATCH, Manager.
Bankers and Brokers
BO. 04 BROADWAY,
Interest paid on Time Deposits and
Savings Accounts.
Accounts of Banks, Firms, Corporations and Individuals
solicited.
We are prepared to furnish depositors
every
facility consistent with good banking.
JOHN H. DAVIS & CO.
BANKERS AND BROKERS.
No. 10 WALL STREET.
N. Y. and Phila. Stock Exchanges.
Orders for Stocks and Bonds executed upon all
Exchanges In this country and Europe.
Especial attention given to supplying high-class
Members
INVESTMENT SECURITIES.
Interest Allowed
on
Deposits Subject to Checks
Effingham Lawrence & Co.
Members N. Y. Stock Exchange
BANKERS
III BROADWAY, NEW YORK
DEALERS IN
Bonds and Guaranteed Stocks
WM. FAHNESTOCK.
Memb. N. Y. Stock Ex.
T. J.
MUMFORD
Fahnestock & Co.
Brokers
and Dealers in
INVESTMENT SECURITIES
2 WALL STREET.
MELLOR & PETRY
56 Wall Street. New York.
Members
N. Y. Stock Ex.
OFFICERS.
W. M. Ladd. President.
R. S. Howard Jr.. Asst. Cash
B. Coaklngham. V.-Pres. J. W. Ladd. Asst. Cashier. *
W. H. Dunckley,Cash.
Walter M. Cook. Asst. Cash.
Orders Executed in all Markets.
BONDS
William Herbert & Co.
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
MEMBERS NEW YORK STOCK EXCHANGE.
Brokers and Beaters in
Edwin P. Campbell
Henry G. Campbell
BANK
OREGON
Established 1859
McCURDY,
24 NASSAU STREET
7. and Boston Stock Exchanges.
-
Dealers In Investment and Other Securities of the
United States and Canada
•
Stocks, Bonds, Investment Security
l$4 SOUTH FIFTH ST..
Philadelphia
MEMBERS
NEW TOBK STOCK EXCHANGE
PHILADELPHIA STOCK EX0HAHQ
July 9
1910.]
THE CHRONICLE
financial.
'tnancial.
St. Paul & Northern Pacific
Railway Company
Six Per Cent Forty-Year Oold Bonds Issued under
Mortgage to Central Trust Company of
New York, dated June 1, 1883.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
The
New York, January 21st, 1910.
Trustees, in conformity with the Charter of the Company, submit the
following statement of its affairs
Premiums
Premiums
To Holders of Bonds of the aforesaid Issue:
You are hereby invited to make offers to sell
your bonds to the undersigned for account of the
sinking fund constituted pursuant to the provi¬
sions of said mortgage.
Sealed offers, setting
forth the serial numbers of the bonds offered for
sale, directed to the undersigned and marked
"Offer to sell Saint Paul & Northern Pacific Rail,
way
the right to reject any and
The undersigned also reserves
reserves
the right to purchase any part of a lot of bonds
offered, except In the case of any offer which dis¬
tinctly specifies that all or none of the bonds
therein mentioned
are
offered for sale.
No offer
will be received or considered which does not con¬
tain the name and address of the person,
corporation
mailed
firm
or
making the offer.
Notice will be
before JULY 22, 1910, to each person
on or
whose offer compiles
with the foregoing condi¬
tions, at his address given therein, as to whether
the same has been accepted. In whole or In part,
or rejected.
Persons whose offers are accepted In
whole or In part will be required to deliver their
bonds, In respect of which their offer has been ac¬
cepted (and In the case of coupon bonds, with the
coupon maturing February 1, 1911, and all sub¬
sequent coupons attached) to the undersigned at
Its aforesaid office, on or before AUGUST 1, 1910,
upon which date payment will be made therefor.
Registered bonds and coupon bonds registered
other than to bearer must be accompanied by
properly executed transfers thereof.
The cou¬
Trustee.
(Corporate Seal.)
by
J. N. WALLACE, President.
M. FERGUSON, Secretary.
3322,046 46
145,679 82
33,791,557 06
3467,726 28
Losses paid during the year which were estimated In 1908
and previous years
3829,378 19
Losses occurred, estimated and paid in 1909
1,149,459 56 31,978,837 75
"1
i
.
I
_
'
"1
I £
tmJS
*2
_,_
*"■ ^
^
Less Salvages.
Re-Insurances
3249,891 07
235,520 48
485,411 55
,
31,493,426 20
Returns of Premiums
Expenses, Including officers’ salaries and clerks’
newspapers, advertisements, etc
Premium notes and Bills Receivable
Cash In the hands of European
Bankers to pay losses under poli¬
cies payable In foreign countries.
Cash In Bank
Aggregating
360,285 14
compensation.Vtatfonery",
3356,913 94
ASSETS.
United States & State of New York
Stock, City, Bank and other Se¬
curities
35,461,042 00
Special deposits In Banks ATrustCos. 1,000,000 00
Real Estate cor. Wall & WllllamSts.,
A Exchange Place .34,299,426 04
Other Real Estate A
claims due the com¬
pany
75,000 00 4,374,426 04
1,213,069 68
LIABILITIES.
Estimated Losses and Losses Un¬
settled
32,393,297 00
Premiums on Unterminated Risks.
Certificates of Profits and Interest
685,546 90
Unpaid
263,468 95
120,569 42
Return Premiums Unpaid
Certificates of Profits Ordered Re¬
deemed, Withheld for Unpaid
Premiums
Certificates of Profits Outstand¬
ing.
Real Estate Reserve Fund
22,353 49
.
7,404,890 00
370,000 00
239,948 04
633,405 13
312,921,890 89
Aggregating
311,260,125 76
A dividend of Interest of Six per cent on the
outstanding certificates of profits will be paid toth«
holders thereof, or their legal representatives, on and after
Tuesday the first of February next.
The outstanding certificates of the Issue of 1904 will be redeemed and
paid to the holders thereof,
or their legal representatives, on and after
Tuesday the first 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 net earned
premiums of the Company fot the year
ending 31st December, 1909, which are entitled to participate In dividend, for
which, upon appli¬
cation, certificates will be Issued on and after Tuesday the third of May next.
By order of the Board,
pons and claims for Interest
maturing August 1,
1910, and prior thereto, upon or In respect of
bonds so sold, shall continue payable as before.
Dated, New York, June 25, 1910.
CENTRAL TRUST COMPANY OF NEW YORK.
$3,759,391 2ft
717,712 70
__$4,477,103 95
Interest received during the year
Rent less Taxes and Expenses
.
undersigned
on
Premiums marked off from 1st January, 1909, to 31st
December, 1909....
Bonds for account of sinking fund,” will be
CENTRAL TRUST COMPANY, 54 Wall Street,
New York, to and Including July 15, 1910.
The
on the 31st of
December, 1909.
Marine Risks from 1st January, 1909, to 31st December, 1909
Policies not marked off 1st January, 1909
on
Total Marine Premiums
received during business hours at the office of the
all offers received.
ix
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN,
JOHN N. BEACH.
JOHN CLAFLIN,
GEORGE C. CLARK,
CLEVELAND H. DODGE,
CORNELIUS ELDERT,
RICHARD H. EWART.
PHILIP A. S. FRANKLIN,
HERBERT L. GRIGGS,
Q. STANTON FLOYD-JONES. Secretary,
TR USTEES.
CLEMENT A. GRISCOM,
DALLAS B. PRATT,
ANSON W. HARD,
GEORGE W. QUINTARD
LEWIS CASS LED YARD.
A. A. RAVEN,
CHARLES D. LEVERICH,
JOHN J. RIKER,
LEANDER N. LOVELL.
DOUGLAS ROBINSON,
GEORGE H. MACY,
GUSTAV H. SCHWAB,
CHARLES H. MARSHALL
WILLIAM SLOANE,
NICHOLAS F. PALMER,
ISAAC STERN.
HENRY PARISH,
WILLIAM A. STREET.
ADOLF PAVENSTEDT, »
GEORGE E. TURNURE.
CHARLES M. PRATT,
A. A.
RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB, 2d Vice-President.
CHARLES E. FAY, 3d Vice-President-.
JOHN H. JONES STEWART. 4th Vice-President.
Stone & Webster
147 Milk Street.
BOSTON
ft Nassau Street
First Natl. Bank Bldg,
NEW YORK
CHICAGO
Nederlandsch Administrate- & Trustkantoor
(NETHERLANDS ADMINISTRATION <fe TRUST COMPANY.)
215 Slngel - AMSTERDAM. (Holland.)
We offer for Investment
Securities of
Public Service Corporations
under
of
H. MEINLSZ, President
Board of Directors:
H. WALLER. L. D„
Chairman,
de Kook & Uyt den Bogaard.
A. A. H. BOISSEVAIN,
Pb MEES.
the management
our
organization
Director of Swiss Bankvereln and
of Labouohere Oyens & Co’s Bank
yield
to
5% to 6jA%
Our Manual
describing these companies will be
request.
upon
The
J. A. DUYNSTEE.
H.
Telders A Co.
F. Th EVERARD.
Banker.
P. M. J. GIL1SSEN,
Arnold GlUsaen.
AUO. KALFF.
Jan Kalff & Go
President.
G. H. DE MAREZ OYENS.
Labeuchere Oyens A Go’s Ban*
A. L. G. H. PICHOT,
Westerwoudt A Co.
W. M. SCHBURLEER.
Scheurleer A Zoonen.
.
sent
Acts
Acts
R. Meea A Zoonen.
as
as
^
Executor,
Trustee of
MEINESZ,
Administrator, Trustee,
Corporation Mortgages.
Guardian, Agent, eic-
Audit
Company
of new York.
City Investing Building
165
PITTSBURGH, PA.
Broadway
Telephone 6780 Cortland.
Audits and examinations.
Appraisals of values of lands, buildings,
machinery, etc.
Financial and cost systems of accounts.
WESTERN OFFICE
Now York Life
MELLON NATIONAL BANK
Building, Chicago
I >
As your reserve
depositary,
bank offers you perfect service
liberal interest
on
your
CAPITAL AND SURPLUS,
,
this
and
balances.
-
$7,000,000
THE
©urgent got*#
Colorado
[Ypia. LXXXil
CfffiONipLB
%nqnixizs.
Springs & Cripple Creek District Cons. 5s, 1942
Sloss Iron & Steel 6s
1?52
Chesapeake & Ohio, Big Sandy 4s, 1944
Peoria Railway Terminal 1st 4s, 1937
Sloss Iron & Steel 4H$
Nevada-California-Oregon 5s, 1919
Beech Creek Coal & Coke 5s, 1955
Wabash, Omaha Div. 3j^s, 1941
\ Pere Marquette Cons. 4s, 1951
G. W. Walker & Co.
BANKERS
90 Broad 51., Note York
Tel* 100 Bread*
....
j
■
t
;
,
-
.
i
,
-
r
.1
....
'■>?’
w
Great Northern of Canada 4s
Sunday Creek Co. 5s, 1944
Bush Terminal 4s & 5s
DEALT IN
AND ALL OTHER SECURITIES
CHESAPEAKE ft OHIO RY.
First Cons. Mtge. 5s, due 1939
NORFOLK ft WESTERN RR.
General Mtge. 6s, due 1931
OREGON RR. ft NAVIGATION GO.
Cons. Mtge. 4s, due 1946
"
F.
J. LISMAN & COMPANY,
SECURITIES
SPECIALISTS IN STEAM RAILROAD
Members N. Y. Stock Exchange
30
BROAD
Land Title ft Trust Go. Building,
‘
44 PINE STREET. NEW YORK
Membem New York' Stock
Kxohaage
-i.
SO Pearl Street, HARTFORD
Massachusetts Gas Go. notes, 1911
Wabash notes, 1912
A. A. LISMAN &
CO.,
25 Broad St.. New York
PROCTER
BANKERS
PHILADELPHIA
St. Louis & San Francisco notes, 1912-13
Missouri Kansas ft Texas notes, 1911
Tel. 5950 Broad
SUTRO BROS. & CO.
NEW YORK
STREET,
&
BORDEN
EQUITABLE BU1LDINQ. NEW YORK
t' "
Street
MEW VOHK
Pacific
,;j.
IT
‘..s.
-
■"
Robt.G lend inning a Co.
55 Cedar
Central
:
4Q0 Chestnut Street,
Philadelphia.
West Penn Railways 1st 5s
Pittsb. McK. ft Coxmellsv. 1st 5s
Wilkes-Barre ft Wyo. Val. Tract.
3J^s
Raritan River 1st 5s
Illinois Tunnel 6% Rec. Ctfs.
Mississippi Central 5s
5&I
Allegheny Bellv. ft PerryY. 5s
New Haven conv. 3J^s & 6s
Toledo Peoria & Western 1st 4s
Houston & Texas Cent. 4s, 5s & 6s
Manufacturers Water Co. 1st 5s
Choctaw Okla. ft Gulf 1st 5s
Springfield Water Co. Consol. 5s
Pennsylvania 33^s, 1937, 1941
Western Pocahontas Corp’n 4J^s
FOR SALE
100 SHARES
Niagara Falls Power
Providence & Worcester 4s
N. Y. Providence & Boston 4s
FREDERIC H. HATCH & CO.
T. W. STEPHENS & 00 Dealers
In Unlisted and Inactvc Securities of
u
BANKERS
2 WALL
In
STREET, HEW YOKE.
Railroads and Other Corporations
the United States and Elsewhere.
30 BROAD
STREET, NEW YORK
Tel. 6140 to 5153 Broad. Inclusive
Bonds Suitable
for Deposit with
Georgia by Insurance
Companies constantly on hand.*
State
J,
H.
INVESTMENT
BONDS
of
HILSMAN
& CO.
Interest allowed
accounts of
on
Individuals and Corporations
Branch Office. 50 CONGRESS ST.. BOSTOB
Telephones. 2540-2541-2542 Fort Hill
Private telephones between New York and Bats*'
Philadelphia Bank Stocks
Philadelphia Trust Co. Stocks
Bids and Offerings Given Immediate Attention
Commission Orders Carefully Executed
EMPIRE BUILDING. ATLANTA. GA.
N. Y. N. H. & H. Deb. 4s, 1955
N. Y. N. H. & H. Deb. 4s, 1956
MUNICIPAL BONDS
Boston & Maine 4J^s, 1929
Legal for Savings Banks in New York State
Minn. Lynd. & Minn. 1st 5s, 1919
TO NET 4.25%
Col. New. & Zanesv. 1st 5s, 1924
Col. Buckeye L. & New. 1st *5s, 1921
FERRIS & WHITE,
N.Y.& Cuban Mail SS. 1st 5s, 1932
Tel. 6327-8 Hanoxer
37 Wall St., N. Y.
N. Y. Tel. 4^s, 1939
Holders of
TUINUCU SUGAR CO. 6s
Communicate with
BURCESS, LANC a CO.
Private
NEW YORK
34 Pin* Street
REED A. MORGAN & CO.,
West End Trust Bldg., Phlla., Pa.
Telephones, /Bell-Spruce21-31.
\ Keystone-Race 205
HI. Cen. Col. Tr. 4s, 1952
Ill. Cen. Col. Tr. 4s, 1953
Chicago ft Pacific Western 5s
Georgia ft Pacific 6s
Southern Pacific Branch 6s
Wire
BOSTON
50 State Street
BLAKE & REEVES
34 Pine Street. New York
Tel. 1504 John
Telephone 2417-8-9 John
J. H. BECKER a CO.
Tel. 985 Rector
80 Broadway. New York
BONDS
A WELL
New York City 33^8
Atchison General 4s, 1995
B. ft 0. So. West. 33^s, 1925
C
to
yield about
6%
Pingree, McKinney & Co.
K. B. WADE
Tel. 6744 Hanover
SEASONED FIRST MORT¬
GAGE POWER BOND
49 Wall Street
8
Congress Street,
Boston
St. Clair Co. Gas ft Elec. Co. 1st Cons.
Baker, Ayling & Company
July Investment List
Sent
on
Request
1st Ref. 5s, 1916
BOSTON
PhlltdtlphiB
Providence
CURTIS & SANGER
Members N.Y., Boston a
Chicago Stock
49 Wall Street
Boston
NEW YORK
5s, 1959
Mahoning ft Shenango Ry. ft Lt. Co.
Exchangee
Chattanooga Ry. ft Lt. Co., 1st ft
Ref. 5s, 1956
WURTS. DULLES & CO.
Ill I. FOUR1H ST..
Chicago
PH I LA DIVK PHIA
Telephone Lombard 1060-1o*1
July 9
1910.]
THE CHRONICLE
®tnreRttt
XI
'gnqniviKS.
$40,000
St. Louis & San Fran. RR. Co.
Market
Collateral Trust Gold 4H% Notes
Due February 1, 1912
Besides being: a direct obligation of the St, Louis
& San Francisco HR. Co., these notes are secured
by deposit of the entire Issue of stock and First
Mortgage Bonds ($4,500,000 of each) of the
Arkansas Valley & Western Ry. Co., covering
On account of the near
years are
in
from
one
to
particularly deslrrble for the Investment of temporary funds, being
three
Free from violent fluctuations
The price keeping close to the maturity
value
175 miles of road.
Readily convertible into cash
PRICE AT MARKET TO NET OVER 6%
There
Glide, Wimnill &Co.
being
a
special demand for short-term Investments
Send for Circular No. M-7, giving list of selected short¬
term securities now obtainable at prices to net
from
BANKERS
20 BROAD
Stability
maturity, high-grade securities due
454% to 6%
STREET, N. T.
Telephone 445-6-7 Rector
Guaranty Trust Company
Mexican Central 1st Incomes
Mexican Central Ctfs. of Deposit
Rio Grande A Western 1st 4s, 1939
OF
5th Ave. & 43d St.
Pennsylvania 4s, 1931
B. A O., Southwestern 3>^s, 1925
New York City 4^8, 1957
Beech Creek Coal A Coke 5s, 1944
Brooklyn Union Gas 5s, 1945
Fairmont Coal 5s, 1931
Illinois Tunnel 5s, 1928
Nassau A Suffolk Lighting 5s, 1935
Nevada-Califomia Power 6s, 1927
O’Gara Coal 5s, 1955
Penn. Coal A Coke 5s, 1953
Schwarzschild A Sulzberger 6s, 1916
Western Pacific 5s, 1933
July circular
on
Connecticut Ry. A
Lighting stpd. 4%
Maryland 4%
Wheeling A Lake Erie consol. 4%
Colorado Midland 4%
Wabash-Detroit A Chicago ext. 5s, 1941
EYER & COMPANY
Tel. 7750 1-2-3 Hanover
NEW
North American Butldini.
New Mexico Railway & Coal 5s. 1947, 1951
Dawson Railway & Coal 5s. 1951
Alabama State 4s, 1920, 1956
West Kentucky Coal 5s, 1935
Con. Indiana Coal 5s. 1935
DOUGLAS FENWICK & C0.
34 WALL ST
GUARANTEED STOCKS
WANTED
Stock
1
Lexington Ave. A Pav. Ferry 5s, 1993
St.
New
Private wire
Cof fin &
to
York.
Company
NEW YORK.
OFFER
’Phones 7460 to 7466 Hanover.
33 Wall
20 Broad St.. N. Y
St., N. Y.
OILMAN & CLUCAS
Borden’s Condensed Milk, common
Audubon National Bank
Lake Shore deb. 4s, 1931
INVESTMENT SECURITIES
Railway Equipment Issues
FREEMAN & COMPANY
1st Nat. Bank Bldg..
34 Pine Street.
^EW H A YEN. CT.
NEW YORK
M PINE STREET. NEW YORK
Telephone 5089 John
Syndicates being formed to develop properties
the PORCUPINE gold field offer attractive
opportunities to those accustomed to mining
investments.
United Zinc & Chemical 1st 5s, 1928
in
WARREN, GZ0WSKI & CO.
25 Broad St., New York.
Toronto.
Equipment Bonds and Car Trusts
Swartwout &
S. R. TAYLOE
Appenzellar
Tel. 7355 Hanover.
Land Title Building;
COADY,
Broad
St, N. Y.
60
Philadelphia.
NEW YORK CITY
25
N. Y;
Lykens Valley RR. A Coal stock
Rochester Syracuse A Eastern 5s, 1945
Central Electric Ry. (Kan. City) 5s, ’14
American Light A Traction
Go.
Stocks and Underlying Bonds.
International Nickel Co. Stocks
Tel. 8776-6 Broad.
.
LEONARD SNIDER
Member* N. Y. Stock Exchange
44 Pine Street
49 WALL ST
Atlantic Coast Elec. RR. 1st 5s
Colorado Springs Electric 5s, 1920
BANKERS
Broadway
New Yavk
FOR SALE.
South
Jersey Gas, Elec. A Trac. Stock
Paterson A Passaic Gas A Elec. Stock
W. E. R. SMITH & CO..
20 Broad Street
-
-
New York
Seaboard Air Line 5s, 1911
Minneapolis & St. Louis 5s, 1911
Hudson Companies 6s, 1911
St. Louis & San Francisco 4)^s, 1912
Pere Marquette 6s, 1912
Wisconsin Minnesota & Pacific 4s
Ohio River 1st 5s
Lehigh Valley of N. Y. 4J^s
Scioto Valley & New England 4s
Chicago Great Western 4s
Cinn. Ham. & Day. Issues
Consolidated Ry. deb. 4s, 1955
N. Y. N. H. A Hartford deb.
4s, 1956
Harlem River A Port Chester 4s
WANT
Gloversville Com.
Pope Manufacturing Common
J. K. Rice, Jr. & Co.
PATERSON & CO.,
LAMARCHE &
Philadelphia.
Morris A Essex 7s, 1914
Louisville A Nashville 6s
Big Four, Cairo 4s
Oregon Short Line 6s
100
New Amsterdam Gas Co. 5s
Ontario Power Co. 5s
MembersNewYork Stock Exchange,
Broad
50 Fonda John. A
N. Y. A Westchester Ltg. 5s, 1954
Central Union Gas 5s, 1927
Northern Union Gas 5s, 1927
New Amsterdam Gas 5s, 1948
Royal Baking Powder com. stock
Tri-City Railway A Light Co. Stocks
Underwood Typewriter Co. Stocks
3o$epbOlalkerS$on$
Express
50 Associated Merchants 1st Pref.
100 Cincinnati Northern
SPECIAL CIRCULAR.
Chicago & Alton 3s
20
PHILADELPHIA
T«l. 1985-6-7 Rector
Buy
25 American Chicle Common
100 Bush Terminal Common
Members Philadelphia Stock Exchange
'Phones Bell-Walnut 2290
Keys tone-Race 499
YORK
New Orleans Mobile & Chicago bonds and
scrip
Canada Southern Ry. Co__
N. Y. Lack. & West. RR.Co
Poria & Bureau Valley Ry. Co
Catawissa RR. Co. Preferred
Mahoning Coal RR. Co. Preferred
Mahoning Coal RR. Co. Common
Southwest of Georgia RR. Co
Brooklyn City RR. Co.
Inter. Ocean Telegraph Co.
Del. & Bound Brook RR. Co
10 Adams
Edward V. Kane A Co.
Western
Tel. John 109
J. If. Rice, Jr. & Co. Will
FOR SALE
BANKERS
5 Nassau Street
NEW YORK
37 Wall Street
London, E. C.
OFFERINGS WANTED
Danville Urbana & Ch. Ry. 1st M. 5s, 1923
Evansville Electric Ry. 1st M. 4s, 1921
Peoria Light Col. Trust 5s. 1936
request.
MEGARGEL & CO.
33 Lombard St.
New York
NEWBORG & CO.,
MEMBERS N. Y. STOCK EXCHANGE
60 BROADWAY. N. Y.
Telephone 4590 Rector.
Cable Addxeea.
“NEWROSB"
PRIVATE WIRE TO ST. LOUIS
NEW YORK
St., N. Y.
28 Nassau
Western Pacfiic 5s
WERNER BROS. A GOLDSCHMIDT
Td. 4800-1-2-3-4-5 Broad.
25 Broad Stmt,
N. V.
THE CHRONICLE
xn
Glens Falls Gas & Electric 5s
Omaha Water Co. 5s and Stock
Seattle=Tacoma Power Co. Stock
.
Nipe Bay Co. Preferred Stock
New Hampshire Elec. Ry. Stocks
=
Butte Water Co. 5s
Florence Water Supply Co. 5s
York Haven Water & Power 1st 5s
Council Bluffs Water=Wks.Co. 6s
Danville Water Co. 6s
Portsmouth Kittery & York 6s
H. C. Spiller & Co.
lxxxxi
$BcmA gnqnivits.
®nmmt
WANTED
[Yol.
FOR SALE
We
$50,000 NASHVILLE CITY
6% BONDS
Issued
Price, 104^ and Interest
Towns
GOULDING MARR
by Counties, Cities,
and Boroughs.
R. M. GRANT & CO.
Broker
NASHVILLE,
and offer
Municipal Bonds
DUE 1914
H
own
BANKERS
TENN.
-
-
31 NASSAU STREET
NEW YORK
8wd«H«t» in Inactive Bonds
Boston
37 State Street
WANTED
Norwich Gas & Elec. 5s, 1927
U. S. Envelope 6s, 1926
Eastern Steamship 5s, 1927
St. Louis Rocky Mt. & Pac. 5s, 1955
Superior Water, Light & P. 4s, 1931
Toledo Ry. & Light 4s, 1909
Hudson River Water P. 5s, 1955
INVESTMENT SECURITIES
RAILROAD
> TO
CORPORATION
) 6%
Oregon Short Line 1st 6s, 1922
Lexington Ave. & Pav. Ferry 1st 5s, ’93
BONDS
Columbus & 9th Ave. 1st 5s, 1993
N. Y. & Westchester guar. 4s, 2004
Selected for Conservative Investors.
WOLFF & STANLEY
Lists Mailed Upon Application
ifefcl* Add. “MOWOLF” 27 William St.. N.
Phonea 6557-6558-6559 Broad
Y.
Lawrence Barnum & Co.
BANKERS
27-29
HOTCHKIN A CO.
STOCK EXCHANGE BUILDING.
East Tenn. Va. & Ga. Div. 1st 5s, 1930
) 4%
MUNICIPAL
PINE
-'htladelphla
STREET.
NEW
YORK
Pittsburgh
Washington
BOSTON
Michigan City Gas & Elect. 5s, 1937
Lansing Fuel & Gas 5s, 1921
United El. Lt.& P.(Balt.) 4J^s, 1927
Seattle Lighting Co. 6s, 1920
Canton (O.) Electric Co. 6s, 1937
Telephone 2321 Main.
“The Pledge
United Rys. of St. Louis 4s
Union El. Lt.ft P. Go. of St.L. 1st 5s
Union El. Lt.& P. Go. of St. L. Ref. 5s
Lftdede Gas Go. of St. Louis 1st 5s
H. L NASON A CO.
of The People"
A New Investment
.
National Shawmut Bank Building,
Boston, Mass.
Pamph¬
of Vital Importance to
Every Buyer and Holder of
Municipal Bonds, Sent on Re¬
quest.
let,
Laclede Gas Go. of St. Louis Ref. 5s
Kan. 0. Ry.& Lt. 5s & Underly. Sec’s
American Caramel 6s
Schenectady Railway 4 *^s
Denver Union Water 6s & Stocks
Guanajuato Power & Electric 6s
Montreal Light, Ht. & Pow. 4^s & 5s
Michigan State Telephone 5s & Stocks
New Hampshire Elec.Rys.,Com.& Pf.
D. ARTHUR BOWMAN
DEALT IN BY
Third National Bank
FRANCI8, BRO. & CO.
Building
ST. LOUIS, MO.
f. w. mason & co.
(ESTABLISHED 1877)
214 North 4th Street, ST. LOUIS
FOR SALE
Kirby Lumber Co. Com. & Pref.
HOLDERS OF
WILLIAM P. BONBRIGHT & COMPANY
Lindsey Water Company 5s
BANKERS
communicate
with
Colorado
Springs
COLORADO
24 Broad Street
NEW YORK
MALCOLM
Telephone
155 Rector
Union Railway, Gas & Electric
Portland Railway, Light & Power
JAMES N. WRIGHT & CO
DENVER, GOLO.
Memphis Street Railway
Am. Tel. A Tel. Oonv.
Am. Tel. & Tel. Ooll. Tr. 4s,
S. C. HENNING <& CO
If. Y.
NEW YORK CITY
Specialize in Securities of
Pa. Coal & Coke
Northern Electric
New Mexico Ry.& Coal
Lacks. & W. V. R. T.
4s, March 1936
July 1929
GEORGE L. WARE
New River
Scranton Electric
Pa. Cent. Brewing
Scranton Gas A Water
Paint Creek Collieries
W. B. A Wyo. V. Trac
&
SAM U EL K. PH ILLI PS &. CO.
421 Chettnut St.
Philadelphia
Members of Philadelphia Stock Exchange.
WANTED
OFFER
Joseph Railway, Light, Heat A Power Co.
StrotherStreets
& Co.,
Sutton,
Calvert
and German
BALTIMORE
Members of Baltimore Stock Exchange
BANKERS
WILKES-BARRE, PA.
Correspondents: EDWARD B. SMITH A CO..
27 Pine St.. New York City.
W. C. PACKARD
DENVER! COLO
Bank and Trust Co. Stocks
Burlington Gas Light 5s, 1955
.
Denver & North Western 5s & Stock
Denver Tramway Sinking Fund, 1933. 5s
Denver Con. Tramway. 1933, 6s
Denver Tramway. 1919, 6s
Denver Gas A Elec. 5s
Denver Gas Stock
Denver Union Water Securities
Colo. Telephone Co. Stock
U, S. Red. & Ref. 6s
Ne vada-Calif. Power Co. Securities
414 Cooper Bldg
FOR SALE
American Gas & Electric Common
CO,,
Sec. Nat. Bank Bldg.,
53 State St.. BOSTON
Harrisburg Light, Heat A Power 5s, 1924
Indianapolis Northern Traction 5s, 1932
Northern Indiana Gas & Elec. Con. 5s, 1936
Pittsburgh & Charleroi Railway 5s, 1932
EMBERS NEW YORK STOCK EXCHANGE
Building, Detroit, Mich.
Grand Rapids Ry. Co. 1st M. 5% Bonds, due 1916
St.
Telephone 4^8, November 1939
Tel. 084 Main
Chicago Subway
Scranton Railway
BROOKS
Spruce St.,
SCRANTON, PA.
Hughes Clarke
71 Broadway
LOUISVILLE. KY.
Temple Iron
Klots Throwing
U. S. Lumber
Spring Brook Water
Wm.
415 Ford
1st Mortgage 5% Bonds, 1937.
ALL LOUISVILLE LOCAL SECURITIES
116 So. 5th St..
Ry & Lt
And Constituent Companies’
Stocks and Bonds.
Nevada-California Power Co. bonds and stock
Denver & N. W. Ry. 5s and stock
Northern States Power Co.
Denver Gas A Electric 6s
Northern Idaho & Montana Power Co.
STUART
SO Broadway.
NEW YORK
Commonwealth Pr
Electric Power Securities
Stocks and Scrip.
17 STATE STREET. BOSTON
London
ENGLAND
Phila., Pa.
New York State Railways, common
Mohawk Valley Go.
423
C. H. FARNHAM
Members of the New York Stock Exchange
George B. Atlee A Co
Bankers
Butte Electric A Power Common
Coplay Cement Co. Common & Pref.
Norfolk & Western St. Ry. 5s
Duluth Edison Electric Common
J_Grand Rapids Gas Light 5s, 1915
LUTZ
WM. M. CLARKE
Tel. 1015-16-17 Rector
20 Broad St., N
Y.
&
COMPANY
S5 Broad St., N. T.
Tal. 273 Broa.
v.
July
4
-
THE CHRONICLE
91910.]
Jttaljeraetxls
K5 Equitable
trust company
BROOKLYN, N. Y.
Statement at Close of Business June 30th, 1910.
RESOURCES.
$6,896,266 79
1,608,715 16
2,578,626 92
Loans and Investments
Exchanges for Clearing House
Cash Reserve
$11,083,608 97
OF NEW YORK
LIABILITIES.
$750,000 00
984,758 58
Capital Stock
Surplus and Profits
267,000 00
Circulation
15 Nassau St.
9,081.850 39
-
511.083.608 97
Thomas T. Barr, President
DIRECTORS
Edgar McDonald,
George S. Ingraham,
Daniel V. B. Hegeman,
618 Fifth Ave.
ALVIN W. KRECH, President
LAWRENCE L. GILLESPIE, Vice-President
FREDERICK W. FULLE, Vice-President
Robert B. Woodward, Vice-President
Edgar McDonald, 2nd Vice-President
Daniel V. B. Hegeman, Cashier
Q. Foster Smith, Asst. Cashier
Henry P. Schoenberner, Asst. Cash.
Thomas T. Barr,
Frank Bailey,
Carll H. DeSilver,
Alexander M. White,
xm
Qvnst &ompznits.
Nassau National Bank
DEPOSITS
«.
LYMAN RHOADES, Secretary
H. MERCER WALKER, Treasurer
Robt. B. Woodward,
Crowell Hadden,
Frank Lyman,
Charles A. Schleren,
Walter V. Cranford,
Howard W. Maxwell,
Edwin P. Maynard,
RICHARD R. HUNTER, Assistant Secretary
HERMAN J. COOK, Assistant Treasurer
GEORGE M. STOLL, Assistant Treasurer
The International Bank
REPORT AS MADE TO BANKING DEPARTMENT
at Close of Business, June 30,1910.
60 WALL STREET
New York, June 30, 1910.
RESOURCES.
Loans and investments
Due from banks
Cash and reserve
$2,419,033 72
632,664 06
342,753 69
$3,394,451 47
LIABILITIES.
Capital stock
Surplus and profits,.
Deposits
$500,000 00
119,742 02
2,774,709 45
.
...
$3,394,451 47
THOS. H. HUBBARD, President.
H. T. S. GREEN, Vice-President.
JOHN HUBBARD. Vice-President.
J. H. ROGERS, Cashier.
C. S. LIPPINCOTT, Assistant Cashier.
BRYCE METCALF, Assistant Cashier.
Hudson Trust
LIABILITIES.
ASSETS.
Cash on
Banks
Hand
and
in
Capital
$11,626,107
On Bond and Mortgage..
3,233,000
Public Securities
1,356,589
Short-Term Investments 3,315,706
Other Bonds and Stocks. 14,343,361
Demand Loans
8,595,404
Time Loans
15,250,812
Accrued Interest Receiv¬
able and Other Assets.
Company
$3,000,000
10,000,000
1,129,555
43,276,039
536,572
44 Surplus
00
62
87
03
03
20
Undivided Profits
Deposits
Accepted Checks
00
00
12
11
41
Reserved for Taxes and
Expenses
146,843 42
Accrued Interest Payable
and Other Liabilities..
123,303 28
491,332 15
$58,212,313 34
$58*212,313 34
Broadway and 39th St., N. Y.
Official
Statement
(Condensed) Junn 30,
1910.
RESOURCES.
Bonds of City and State of New York
(market value)
$811,243
182,671
123,049
878,077
1,880,322
6,000
12,000
15,444
1,047,941
Sundry stocks and bonds (market value).
N. Y. City real estate mortgages
Demand loans
Time loans and bills purchased
Real estate.
Furniture and fixtures
Accrued Interest receivable
Cash on hand and due from banks
...
75
00
42
52
80
00
00
52
90
THE PLAINFIELD TRUST COMPANY
PLAINFIELD, NEW JERSEY
Condensed
54,956,750 91
LIABILITIES.
Capital
S500,000
600,000
84,487
8,715
.
Surplus
Undivided profits
Reserved for taxes
Interest accrued payable
Dividends unpaid
00
00
73
27
16.559 04
15,258 00
3,731,730 87
Deposits
S4,956,750 91
OFFICERS
ELVERTON R. CHAPMAN. President
LOUIS H. HOLLOWAY, VIce-President
HENRY C. STRAHMA NN, Vice-President
JOHN GERKEN, Vice-President
HENRY G. LEWIS, Treasurer
RICHARD A. PURDY. Secretary
Report as rendered to the Department of
State of New Jersey, June 30th, 1910
ASSETS
Railroad and other bonds
Bonds and Mortgages
Demand loans,
bills purchased
$657,264 11
537,950 00
...
time
loans,
1,435,497 50
85,000 00
Accrued interest
Cash and reserve
$100,000 00
213,352 95
4,657 00
2,000 00
Accrued interest
and
Banking house.
LIABILITIES
Capital Stock
Surplus and Undivided Profits
Reserved for taxes
Due
2,355,061 83
depositors
12,727 40
446,632 77
—
$3,175,071 78
$3,176,071 78
OFFICERS
O.
WARING, President
T.
J. HERBERT CASE, Vice-President
H. H. POND, Secretary & Treasurer
HENRY A. McGEE, Vice-President
A V. HE ELY, Vice-President
DIRECTORS
^financial.
COLLEGE MEN
who
planning to enter the employ
of a Bond House, Stock Exchange Firm
or Bank, should write for FREE booklet
describing our courses on Investments
and
Bond
Salesmanship. Address
Frank H. Smith
Samuel Townsend
Cornelius B. Tyler
Lewis E. Waring
Orville T. Waring
Charles W. McCutchen
J. Herbert Case
Frederick Geller
Augustus V. Heely
James W. Jackson
Edward H. Ladd Jr.,
Henry A. McGee
Walter M. McGee
Charles A. Reed
Isaac W. Rushmore
gaah. j&latenxmts.
are
REPORT OF
WEST SIDE BANK*
Nineteenth Ward Bank
8TH AVE. AND 34TH ST.. N. Y.
Condensed Statement June 30,1910
at the close
of
business
BABSON’S COMPILING OFFICES,
Wellesley Hills, Mass.
on
June 30, 1910.
ASSETS
Loans and Investments
Exchangesfor Clearing House
New York office, 33
Broadway
turst
[LvfMt Statistical Organization in the U. 8.
companies
$1,317,973 10
74 BROADWAY
-
•
•
NEW YORK
Specie and legal tender
1,266,251 46
Capital
Surplus and undivided profits
Deposits
87
23
27
68
50
65
69
09
$6,681,668 98
2,584,224 56
LIABILITIES
INVESTMENT SECURITIES
Real estate
Stocks and bonds.
Cash Items
Accrued interest
$9,386,163 15
WEBB & CO.
$3,285,996
182,258
69,172
382,004
1,192,652
1,178,784
375,632
15,167
banks,&c.
Mortgages owned
$6,616,850 94
185,087 65
Due from banks and
Cash
RESOURCES.
Loans and discounts
Due from trust companies,
LIABILITIES.
Capital stock paid Inin cash
$200,000*00
1,023,381 03
Surplus and undivided profits
Cashier's and certified checks
132.666x44
8,517.201
Accrued interest and taxes
$300,000 00
360,531 02
8,725,632 13
$9,386,163 15
BRADLEY MARTIN JR., President
JOHN N. VAN PELT, Cashier
CHARLES W. EASTMAN, Assist. Cashier
Unpaid dividends
Deposits--
12,000*00
—
5,305,104 22
$6,681,668 9&
CHRISTIAN F. TIETJEN, President.
FRANCIS L. LELAND, Vice-President.
CHARLES ROHE, 2d Vice-President
THEODORE M. BERTINE, 3d Vice-President.
WALTER WESTERVELT, Cashier.
FREDERICK L. WILLIAMS, Asst. Cashier.
XIV
THE CHRONICLE
[VOL.
LXXXXI
gaixfc Statements.
[No. 1394.]
REPORT OF THE CONDITION OF THE
The
THE AMERICAN EXCHANGE
NATIONAL BANK
at New
York, in the State of New York, at the close of
business, June 30, 1910:
RESOURCES.
Loans and discounts
Overdrafts, secured and unsecured
U. S. bonds to secure circulation.
U. S. bonds to secure U. S. deposits
$24,291,834
36,498
5,000,000
150,000
Bonds, securities, &c
2,430,908
Banking house, furniture and fixtures—
1,600,000
Other real estate owned
986,546
Due from national banks
(not reserve agents)— $3,250,360 59
Due from State and private
banks and bankers,trust
companies and savings
banks..
815,129 56
Checks and other cash
items..
for
Exchanges
74
93
00
00
62
00
69
2,170,720 41
Clearing
House
12,289,643 31
Notes of other national
banks
50,000 00
Fractional paper currency,
nickels and cents
2,174 66
Lawful money reserve in
...
CONDENSED REPORT
of the
Merchants
Loan and Trust
STATE BANK OF CHICA80
Company
July 1, 1910
CHICAGO, ILL.
ESTABLISHED 1857
RESOURCES
Statement of Condition at Com mencement of Business
Loans and Discounts
July 1, 1910
Overdrafts
RESOURCES
Loans and Discounts
$31,921,727 69
Bonds and Mortgages.
9,275,764 48
Due from Banks—$12,622,045 35
Clearing House.
_
$26,082,354 86
LIABILITIES.
Capital Stock
Surplus (Earned)
563,275 270 30
LIABILITIES
26,331,235 03
Redemption fund with U. S. Treasurer
(5% of circulation)
250,000 00
129,000 00
Due from U. S. Treasurer.
Total.
§61,206,024 01
LIABILITIES.
Capital stock paid in.
$5 000,000 00
3 000,000 00
Surplus fund
Undivided profits, less expenses and
taxes paid
National bank-notes outstanding
Due to other national
banks
S9,355,535 04
Due to State and Drtvate
banks and bankers
5,223,069 98
Due to trust companies
and savings banks
1,743,917 93
Dividends unpaid
7,314 50
Individual deposits subject
to check
26,309,212 71
Demand
certificates
of
deposit
78,880 92
Certified checks
2,471,694 78
Cashier’s checks outstand¬
ing
1,682,371 34
Capital Stock
$3,000,000
SurpIusFund
5,000,000
Undivided Profits
813,218
Dividend payable July 1st
90,000
Reserved for Accrued Interest and
Taxes
128,005
Deposits
54,244,0±6
$1,500,000 00
.
Undivided Profits
Reserved for Interest and
Taxes
Dividend No. 71
00
00
06
00
15,000 00
45,000 00
22,839,459 04
Deposits
50
1,500,000 00
182,895 82
74
$26,082,354 86
$63,275,270 30
1 194,557 01
4, 895,397 50
Accounts
of
GENERAL BANKING
Banks. Merchants, Corporations
GROWTH IN DEPOSITS
and Individuals Solicited
as
DIRECTORS
United States deposits.
Reserved for taxes
150,000 00
94,072 30
$61,206,024 01
State of New York, County of New York, ss.:
I, WALTER H. BENNETT, Cashier of the abovenamed bank, do solemnly swear that the above state¬
ment Is true to the best of my knowledge end belief.
W. H. BENNETT, Cashier.
Subscribed and sworn to before me this 1st day of
E. A. BENNETT,
July, 1910.
[Seal.]
Notary Public.
Notary Public, Kings County, Certificate filed in
New York County.
Correct—Attest:
JNO. T. TERRY,
]
J. R. MAXWELL,
[Directors.
LEWIS L. CLARKE,
J
shown by official published statements
Enos M. Bai'ton
Cyrus H. McCormick
Clarence A. Burley
Elbert H. Gary
John S. Runnells
February 6,1909
Edward L. Ryerson
April 29,1909
June 24, 1909
September 2,1909
Edmund D. Hulbcrt
Orson Smith
Chauncey Keep
Lambert Tree
Thies J. Lefens
Moses J. Wentworth
46 ,871,997 20
Total
6,758,517 01
9,455,732 78
22,077.778 13
6,581,206 50
1,172,000 00
10,536 10
1,830,676 92
Bonds
Cash and Due from Banks
Cash and Checks for
bank, viz.:
Specie
Legal-tender notes
$17,482,624 83
_
Total Deposits.
.
.
.
....
....
OFFICERS
ORSON
SMITH, President
EDMUND D. HULBERT, Vice-President
FRANK G. NELSON, Vice-President
.
.
November 17, 1909
February 1,1910
.
.
March 30,
.
.
1910
July 1, 1910
JOHN E. BLUNT JR., Vice-President
J. G. ORCHARD, Cashier
.
.
.
.
.
....
$19,587,066
19,663,947
20,105,724
20,380,470
20,989,692
20,548,765
22,671,760
22,839,459
OFFICERS
L. A. GODDARD, President
JOHN R. LINDGREN, Vice-President
HENRY A. HAUGAN, Vice-President
HENRY S. HENSCHEN, Cashier
FRANK I. PACKARD, Assistant Cashier
C. EDWARD CARLSON, Assistant Cashier
SAMUEL E. KNECHT, Secretary
WILLIAM C. MILLER, Asst. Secretary
P. C. PETERSON, Assistant Cashier
C. E. ESTES, Assistant Cashier
LEON L.
LOEHR, Secretary & Trust Officer
F. W. THOMPSON, Mgr. Farm Loan Dept.
H. G. P. DEANS, Mgr. Foreign Department
135 Adams Street, Chicago.
YOUR BUSINESS INVITED
REPORT OF THE CONDITION OF
THE BANK OF AMERICA
at the close of business
on
DlinoisTrast&Sa>inj|sBaiik
the 30th day of June, 1910:
RESOURCES.
CHCAG O
Loans and discounts.
$20,616,864 35
Due from trust companies, banks and
'flankers
1,012,782 25
900,000 00
Real estate.
Stocks and bonds, viz.:
Public securities (book value $1,000):
market value
Other securities
(book value, $3,470.492 85); market value..
Specie
1
Legal-tender notes and notes of national
banks....
Total
Commencing of Business July 1, 1910
1,010 00
3,681,768 00
6,061,633 06
1.986,798 00
15,931,414 33
Cash items
Statement
$50,192,269 99
LIABILITIES.
Capital stock
$1,500,000 00
Stih>lds including all undivided profits.. 5,787.149 56
Due New York State savings banks
3,841,995 66
Deposits not preferred
13,966,825 96
Due trust companies, banks and bankers. 13,549,058 58
Total deposits
$31,347,880 20
Other If&bllities, viz.:
Certified checks
.$10,405,252 08
Demand Loans
RESOURCES
.$22,166,271 87
Oollateral
Time Loans on Oollateral
Loans on Real Estate
on
36,152,878 37
520,937 49
$58,840,087 73
Real Estate....
Bonds and Stocks
Cash and Exchange
9,716 90
23,502,252 24
22,590,847 87
$104,942,904 74
*
Cashier’s checks
Unpaid dividends
Reserved for taxes
910,768 40
195,782 00
45,437 75
11,557,240 23
Total
$50,192,269 99
State of New York, County of New York,
ss.:
WILLIAM H.PERKINS,President, and WALTER.
M. BENNET, Cashier, of the Bank of America, a bank
located and doing business at Nos! 44 and 46 Wall Street,
ID* the Clfy of New York, In said county, being duly
attorn, each for himself, says that the foregoing report
is triie and correct in all respects, to the best of his
knowledge and belief, and they further say that the
usual business of said Bank has been transacted at the
location’required by the Banking Law (Chap! 2 of the
Consolidated Laws as amended), ahd not elsewhere;
and that the above report is In the form prescribed by
the Superintendent of Banks, and is made in compliance
with an official notice received from him, designating
the 30th day of June, 1910, as the day as of which such
report• shall be made.
<
*
•
WILLIAM H. PERKINS. President.
WALTER M. BENNET, Cashier.
Severally subscribed and sworn to by both deponents
the 5th day of July, 1910, before me.
;
[Seal of Notary]!
B. DENZLER,
No*ary Public, Kings Co.,
Certificate tied Id New York Co., No. 1046.
„
,
^
Capital Stock paid in
Surplus Fund..
LIABILITIES
Undivided Profits
Dividends Unpaid
Reserved for Taxes
$5,000,000 00
8,000,000 00
746,623 81
200,272 00
105,000 00
...
Demand Deposits
Time Deposits
-
$27,839,164 40
63,051,844 63
90,891,008 93
$104,942,904 74
JAM ES PARK & CO.
CERTIFIED PUBLIC ACCOUNTANTS
New
York, Chicago, Cincinnati, and
London, England.
AUDITORS
FOR
FINANCIAL
INSTITU
TIONS, INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial Statements.
Periodical A adits and Accounting
MUNICIPAL AND RAILROAD
BONDS
LIST ON APPLICATION
SEAS0NG00D & MAYER
Mercantile
Library Building
CINCINNATI
July 9
&
THE CHRONICLE
1910.]
Hattli Jslxicmjettts.
[No. 290.]
Statement of the Condition of
REPORT OF THE CONDITION OF
The Fourth National
Bank
at New
York, In the State of New York, at the clo?e of
business June 30, 1910:
OF CHICAGO
of Business Thursday, June 30th, 1910
At the Close
RESOURCES.
Capital Stock Paid in
Surplus Fund
Undivided Profits
Circulating Notes
Deposits
549,757 .229 71
334 77
41 .535 29
Overdrafts
Real Estate
U. S. Bonds at Par
Other Bonds
Stock Commercial Nat l Safe De¬
posit Co. (Bank Bldg.), at par—
Due
from
U.
S.
Treasurer
$799,750 00
Exchange for Clearing House-2,685.983 18
Due from Banks—
9,408,859 40
Cash
13.595,676 84
-
—
3,765 ,000 00
5,383 ,163 86
$3,090,090 00
2,209,009 00
1,533,972 11
3,515,099 00
71,791.605 94
Banking house, furniture and fixtures
Due from national banks (not reserve
agents)
1,650,813 45
Due from State and private banks and
bankers, trust companies and savings
banks
Checks and other cash items.
Exchanges for Clearing House
Notes of other national banks
Fractional paper currency, nickels and
1.597,590 00
5,617,990 00
Redemption fund with U. S. Treasurer
(5% of circulation)
Dae from U. S.
Total.
$87,040,579 05
OFFICERS
180,000 00
S51,224,306 40
LIABILITIES.
Capital stock paid In
55,000,000 00
5,000,000 00
Surplus
Undivided
-Asst.
Asst.
-Asst.
.Asst,
Asst.
_
Cashier
Cashier
Cashier
Cashier
Cashier
profits,
paid
taxes
less
525,708 45
592,800 00
------
and
6,S33,05t 63
3,562 00
savings banks
15,590,016 98
8,702 92
2,449,513 56
deposit
Accepted checks.
Cashier’s checks outstand¬
INVESTMENTS
and
expenses
...
National bank-notes outstanding
Due
to
national
other
banks
512,403,551 37
Due to State and private
banks and bankers
2,257,007 43
Due to trust companies
Dividends unpaid
Individual deposits subject
to check.
Demand
certificates
of
f^ittanjctal.
30,000 00
Treasure^
$87,040,579 05
EDWARD S. LACEY-..Chairman of the Board
GEORGE E. ROBERTS-..
--President
GEORGE B. SMITH
HARVEY C. VERNON
RALPH VAN VECHTENVice-Prest
H. ERSKINE SMITH-.
JOHN C. CRAFT..
Vice-Prest
RALPH C. WILSON-W. T. BRUCKNER
-Vice-Prest
DAN. NORMAN
NATHANIEL R. LOSCHCashier
H. LAWTON
Mgr. Foreign Dept.
409,389 06
ing
39,951,235 95
U. S. deposits.
Dividend No. 98, (payable July 1st)
Reserved for taxes
1,000 00
100,000 00
50,000 00
—
YIELDING 4.20 TO 6 PER CENT
The present market affords opportunity of securing safe investment bonds to yield exceptionally
attractive interest returns.
We offer the following list of carefully selected securities at prices con¬
siderably under the market, subject to prior sale
AMOUNT
or
change in price:
INTEREST
PAYABLE.
SECURITY
$10,000 Maywood & Melrose Park School
Dist.. Ill., 4Hs
M. and S.
19,600 Cudahy, Wise., Sewer 5s
M. and S.
9,500 Will Co., III., School Dist. 90, 5s ---J. and D.
55,000 Bolivar County, Miss., Road and
Bridge 4^s
May 1
9,000 Rosedale, Kan., Water 5s
J. and J.
20,000 Adams Co., Miss., Refunding 43^s--J. and J.
11,000 Park Co., Alont., High School 4Hs--J. and D.
27,609 Lincoln Co., Idaho. Refunding 4Hs-.J. and J.
14.000 Blaine Co., Idaho, Refunding 4HS---J. and J.
12,000 Blaine Co., Idaho. Refunding 5s
J. and J.
15,000 Canyon County, Idaho, School District 37, 5s
J. and D.
14,000 Washoe
County
School
District
(Reno), Nev., 5s-_-____M. and S.
6,000 Wilton, Wis., Water 5s
Jan. 11
25,000 Emmettsvilb School Dist., Idaho. 5sM. and S.
35,000 Corinth, Miss., Municipal 5sM. and S.
10,000 Nampa, Idaho. Fire Dept. 6s
F. and A.
13,000 Harrison Co., Ia., Drainage Dist. 6s-J. and J.
6,090 Louisburg.
N.
Car.,
Water
and
15,000
21.500
10.500
18,000
40,000
14.500
15,000
100,000
142,000
Denomi- Yielding
nation.
About
MATURITY
$500
4.20%
500
500
4.38%
4.50%
May 1 1934
1,000
4.55%
July 1 1929
Jan. 1 1931
June 1 1924
July 1 1919 to 1928
July 1 1919 to 1928
July 1 1920 to 1929
4.55%
1,000 4.55%
1,000 4.60%
1,000-500-100 4.70%
1,009-100 4.70%
1,090-100 4.70%
..
June 1 1929, Opt’l 1919
500
r
'•
OF THE CITY OF NEW YORK
At the close of business June
1,000
1.000
4.70%
4.75%
Sept. 1 1929, Opt’l 1919
Sept. 1 1934
Aug. 2 1929. Opt’l 1919
Jan. 2 1915 to 1924
500
590
1.090
500
4.75%.
4.75%
4.89’%
5.00%
—
\!
1,000-500-100
5.25%
5.25%
5.40%
5.50%
5.60%
5.60%
5.77%
•
Ift3,039;i9
.
Due from national banks
Due from State banks and bankers
Checks and othe’ cash
items
$169,429 57
Exchanges
for
09
00
34
01
875,006
1,000
570,538
837,741
229,059 (0
Clearing
513,177 05
House
Specie
Legal tender notes
Redemption fund
1,714,782 13
1,030,000 00
with
U. S. Treasurer (5% of
circulation)
Due from U. S. Treasurer*
other than 5% redemp¬
tion fund
43,750 00
17,682 67
3,488,821 42
6.00%
1
Total.
$18,658,267 57
LIABILITIES.
6.00%
6.00%
6.00%
•::.**
March 11913 to 1920 1,000-500-100
6.00%
Capital stock paid In
Surplus fund
Undivided profits,
tax^s
paid
...........
...............
less
656,313 15
.........
certificates
deposit
Long Distance Telephone
Randolph 2791
33,376 01
875,000 00
48,200 00
Due to other national
banks
52,258.212 11
Due to State banks and
bankers
433,030 60
Due to trust companies
and savings banks..--1,610,049 86
Individual deposits sub¬
7,476,233 12
ject to check.
Established 1893
53,000,000 00;
2,000,000 00*
and
expenses
Reserved for taxes
National bank notes outstanding
Dividends unpaid
Demand
Building, Chicago
30th, 1910.
-512 ,653,068 01
Loans and discounts
Overdrafts, secured and unsecured
U. S. bonds to secure circulationU. S. bonds to secure U. S. depo its
Bonds, securities, &c
March 1 1915 to 1928
Jan. 11 1916 to 1921
Jan. 11912 to 1924
NATIONAL
4.70%
»
fe
Bank
MERCANTILE
BANK
THE
RESOURCES.
Upon request of Investors, we shall be pleased to furnish special cir.ulars describing in full any
Of the bonds above mentioned, with copies of attorneys’ opinions approving their legality.
.
REPORT OF THE CONDITION OF
*.
.
650.000 Conrad
._.
CHARLES C. SEIFERT,
Correct—Attest:
Notary Public.
JAMES G. CANNON,
1
T. F. MANVILLE,
^Directors.
WILLIAM S. OPDYIvE, J
500
<
Land & Water Co. First
Mortgage 6s
J. and J.
467,000 New Orleans Delta Drainage Co.
i
First Mortgage 6s
M. and S.
551,224,306 40
State of New York, County of New York, ss.:
I, CHARLES H. PATTER3DN, Cashier of the abovenamed bank, do solemnly swear that the above state¬
ment is true to the best of my knowledge and belief.
CHARLES H. PATTERSON, Cashier.
Subscribed and sworn to before me this 2nd day of
Julv, 1910.
Sept. 1 1921 to 1924
March 1 1914 to 1929
June 1 1914 to 1925
Light 5s
J. and D.
Dec. 1 1934
1,000
Schuyler Co. Drainage Dist., HI., 6s- Feb. 1
Feb. 1 1929 and 1922
1,000
Paragould, Ark., Sewer 6s
J. and J.
July 1 1915 to 1927
500
Kimball. Neb., Water 6s
A. and O.
April 1 1929, Opt’l 1914
500
Siloam Springs, Ark., Water 6s
Feb. 1
Feb. 11920 to 1929, Opt’l 1914
500
Carmen, Okla., Water and Light 6s.-F. and A.
Aug. 2 1934
1.000
Lawton, Okla.. 6s
Sept. 15
Sept. 15 1917 to 1919
500
Bitter Root Valley Irrigation Co. 6s--J. and J.
1,000-500
Jan. 1 1917 to 1919
Montgomery (Ala.) Light & Power
Co. 6% Notes
J. and D. June 1 1912, Opt’l 1911
1,000
Idaho-Oregon Light & Power First
and Refunding 6s
A. and O.
April 1 1938 to 1944
1,000
First National
42
94
95
00
41 73
coats
26,490,269 42
JULY
85,207
982,490
16 ,392,585
50,000
Lawful money reserve in bank, viz.:
Specie
53,447,990 00
Legal-tender notes
2,200,000 00
-
Total
$22 325,503 44
600,000 00
1,000 00
22.515 06
742,893 50
22,507,234 91
Bonds, securities, &c._-
LIABILITIES.
Time Loans
$42,353,659 97
Demand Loans—7,403,560 74
—
RESOURCES.
Loans and discounts.
U. S. bonds to secure circulation
U. S. bonds to secure U. S. deposits
Premiums on U. S. Bonds
of
21,003 52
200.208 38
...
Certified checks
Cashier’s checks outstand¬
45,640 82
1,000 00
ing
U. S. deposits
,
.
,
12,045,878 41
Established 1864
Telephone 2817 Rector
I WILL BUY THE CONTROLLING INTEREST
IN BOTH A
Fire Insurance Company
AND
A
Life Insurance
Company
E. S. BAILEY
66
BROADWAY
_
j^NEW YORK
--518,658,267 57
County of New York, ss.:
I, EMIL KLEIN, Cashier of the above-named bank,,
Total
C. B. Van Nostrand
86 WALL STREET
INDUSTRIALS
-
-
-
-
-
--
State of New York,
do solemnly swear that the above statement Is true
to the best of my knowledge and belief.
EMIL KLEIN, Cashier.
Subscribed and sworn to before me this 1st day,;pf
July. 1910.
ALBERT B. CORY* m
Correct—Attest:
Notary Public.^
WILLIS G. NASHJ
A.:
E. T. JEFFERY.
A iDIrectOTS| J jfl
william skinner;!
,
zn
THE CHRONICLE
[VOL.
Qxn&t ©xrm^atxijes.
LXXXXI
gawk Statements.
[No. 29.]
REPORT OF THE CONDITION OF
INCORPORATED 1853
The First National Bank
United States Trust
Company
OF NEW YORK
at New York City, In the State of
New
close of business June 30, 1910:
Loans and discounts
secured and unsecured
U. S. bonds to secure circulation
U. S. bonds to secure U. S.
deposits
U. S. bonds on hand.
on
U. S. bonds
reserve
agents)
Due from State and private
banks and bankers, trust
companies and savings
banks
Checks and other cash
Items..
$2,000,000.00
Surplus and Undivided Profits, 13,733,303.2!
Exchanges
for
Clearing
other
national
House
Notes of
banks
STATEMENT
RESOURCES.
Gash in Vault and In Banks
Real Estate
Bonds and Mortgages
$13,076,977 54
1,000,000
3,536,850
41,264,582
10,558,418
*
Capital Stock
Surplus
$2,000,000
12,000,000
Undivided Profits
1,733,303
Deposits in Trust
64,075,039
Interest Accrued on Deposits
764,720
Rebate Interest on Bills Purchased
76,103
Reserved for Taxes
188,000
00
00
Loans on Collaterals.27
Bills Purchased
34
New York City and other Bonds
and Securities at market value,
being more than the book value
thereof
11,025,990 00
▲oorned Interest..
374,348 29
00
00
21
19
76
28
00
$80,837,166 44
$80,837,166 44
EDWARD W. SHELDON, President.
WILLIAM M. KINGSLEY.Vice-President.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER. Asst. Secretary.
CHARLES A. EDWARDS. 2d Asst.
Alexander E. Orr,
William H. Macy Jr.,
William D. Sloane,
308,176 31
16,587,471 70
4,195 00
382 83
Specie
Legal-tender notes
20,668,321 60
2,321,870 00
42,194,612 89
Redemption fund with U. S. Treasurer
(5% of circulation)
•
Due from U. S. Treasurer.
Total
Secretary.
$10,000,000 00
15,000,000 00
and
National bank notes outstanding
Due to other national
banks--.
$28,642,393
Due to State and private
banks and bankers.
1,957,482
Due to trust companies
and savings banks
27,437,159
Dividends unpaid
500,228
Individual deposits subject
to check
48,266,594
Demand
certificates of
deposit
ing,,
Gustav H. Schwab,
Frank Lyman,
Lyman J. Gage,
Payne Whitney,
James Stillman,
Edward W. Sheldon,
John Claflin,
Chauncey Keep,
John J. Phelps,
George L. Rives,
Lewis Cass Ledyard,
Arthur Curtiss James
William M. Kingsley,
,
Wm. Stewart Tod,
Ogden Mills,
Edgerton L. WInthrop.
Central Trust Company of New York
No. S4 WALL STREET
4,855,567 27
5,825,397 50
04
30
74
75
37
106,422 24
3,114,641 01
Certified checks.
Cashier’s checks outstand¬
TRUSTEES
JOHN A. STEWART, Chairman of the Board.
295,100 00
271,265 99
$148,822,234 74
LIABILITIES.
Capital stock paid In
Surplus fund
Undivided profits, less expenses
taxespaid.
Dividend of July 1, 1910,($500,000) charged to Profit and Loss, and not included In
above statement.
W. Bayard Cutting,
William Rockefeller,
129,019 87
nickels and cents
Lawful money reserve In
bank, viz.:
LIABILITIES.
34
70
00
00
00
18<
58
00
$2,175,175 58
Fractional paper currency,
of the morning of the first day of July, 1910
as
i
Due from national banks
(not
Showing its condition
$59,666,760
13,573
5,902,000
1,000
324,360
1,165
38,552,396
l ,600,000
_
Bonds, securities, &c
Banking house
Nos 45 and 47 Wall Street
Capital,
RESOURCES.
Overdrafts,
Premiums
York, at the
2,015,193 37
112,040,114 82
United States deposits
Bonds borrowed
Reserved for taxes
'
1,000 00
798,000 00
302,155 15
Total
$ 148,822,234 74
State of New York, County of New York, ss.:
I, C. D. BACKUS, Cashier of the above-named bank,
do solemnly swear that the above statement is true to
the best of my knowledge and belief.
C. D. BACKUS, Cashier.
Subscribed and sworn to before me this 5th day of
July, 1910.
THOS. T. GRACE, Notary Public.
Correct—Attest:
New York County.
FRANCIS L. HINE,
}
A. BARTON HEPBURN,
[Directors.
THOMAS W. LAMONT.
J
[No. 1324.]
REPORT OF THE CONDITION OF
The Gallatin
CAPITAL, $3,000,000
SURPLUS, $15,000,000
UNDIVIDED PROFITS, $946,663 00
the 30th day of June, 1910.
RESOURCES.
STOCK INVESTMENTS.
Estimated
Real Estate
Bonds and Mortgages
.......
Amount loaned on collaterals, viz.:
United States Stocks, Railroad Stocks and
Bonds, Miscellaneous Stocks and Bonds
Amount loaned on personal security,
including bills purchased
Cash in Vault
........
Cash In Banks
.
.
.
.
.
.
41
1
9
12
.
LIABILITIES
Capital stock subscribed and paid in cash
Surplus
.......
•Undivided Profits
Deposits in trust and on demand
Otner liabilities, not included under any of the
above heads, viz.:
Interest accrued
....
....
013,484
860,707
887,173
460,156
530,229
$3,000,000
15,000,000
946,663
69,301,070
$133,645 87
171,588 26
47
64
85
61
59
oo
oo
00
22
305,234 13
$88,652,967
F. B
D. OLCOTT 2d,
SMIDT, Asst. Secretary.
Vice-President,
M.
FERGUSON. Secretary.
BOARD OF TRUSTEES.
GEO. MACCULLOCH MILLER.
CORNELIUS N. BLISS,
JAS. N. JARVIE.
WILLIAM A. READ,
JAMES N. WALLACE,
SAMUEL THORNE,
ADRIAN ISELIN JR.,
E.
F.
HYDE,
HENRY EVANS,
DUDLEY OLCOTT 2d,
(not
reserve
Due from State and* private banks and
bankers, trust companies and savings
banks
Checks and other cash Items
217,695 84
35,956
267,107
9,794,332
19,300
52
12
54
00
303 00
Legal-tender notes
344,963 00
Redemption fund with U. S. Treasurer
(5 per cent of circulation)
Total
CHAS. LANIER,
A. D. JUILLIARD,
JAMES SPEYER,
HENRY D. BABCOCK,
DUDLEY OLCOTT.
25,000 00
$1,000,000 00
2,000,000 00
and
Due to other national banks
Due to State and private banks and
bankers.
Due to trust companies and savings
banks
Dividends unpaid
Individual deposits subject to check
Demand certificates of deposit—
Cashier’s checks outstanding
United States deposits
Reserved for taxes.
1,553,392 00
$20,530,243 91
LIABILITIES,
Capital stock paid in
Surplus fund
Undivided profits, less expenses
taxespaid
National bank-notes outstanding
Accepted drafts
35
•Dividend payable July 1, 1910, charged to Profit and
Loss, and not Included In this statement.
J. N. WALLACE. President.
^
banks
agents)
cents
$88,552,967 35
E. P. HYDE. Vice-President,
B. Q. MITCHELL, Vice-President.
1,000 00
1,906,870 62
500,000 00
Lawful money reserve In bank, viz.:
$20 757,823 76
983,444 26
059,947 17
.
fc: A
Taxes accrued
24 80
500,000 00
Notes of other national banks
Fractional paper currency, nickels and
...
Accrued Interest
$5,709,261 47
Exchanges for Clearing House
Par Value.
Market Value.
$50,000 00
$51,000 00
2,379,000 00
2,331,420 00
20,275,900 00 18.375,403 76
U. S. Registered 3% Bonds
N. Y. City Stocks
Bonds ahd Stocks
RESOURCES.
Loans and discounts
Overdrafts, unsecured
U. S. bonds to secure circulation
U. S. bonds to secure U. S. deposits
Bonds, securities, &c
Due from national
on
Bank
York, in the State of New York, at the close of
business June 30, 1910:
Banking house
STATEMENT
showing its condition at the close of business
National
at New
497,667 80
492,800 00
1,167,454 40
371,786 15
353,727 70
78 00
79
5,703,392
2,458
8,794,687
127,337
42
53
77
1,000 00
17,853 35
Total..
$20,530,243 91
State of New York, County of New York, ss.:
I, GEORGE E. LEWIS, Cashier of the above-named
bank, do solemnly swear that the above statement la
true to the best of my knowledge and belief.
G. E. LEWIS, Cashier.
Subscribed and sworn to before me this 5th
day of
'Uly, 1910.
H. L. BRAYNARD,
[Seal.]
Notary Public, Westchester Co.
Certificate filed in New York Co.
Correct—Attest:
ADRIAN ISELIN, Jr.,
W. EMLEN ROOSEVELT,
SAML. WOOLVERTON,
]
[Directors,
J
THE CHRONICLE
July 9 1910.'
JSatxTi Slalemettis.
xvn
©omjranlzs.
[No. 2598.]
REPORT OF THE CONDITION OF THE
GARFIELD NATIONAL BANK
at New York
City, in the State of New York, at the
Close of business, June 30th, 1910:
RESOURCES.
Loans and discounts
$7,144,698
2,153
Overdrafts, secured and unsecured
U. S. bonds to secure circulation
399,000
U. S. bonds to secure U. S. deposits
1,000
1,057,250
Bonds, securities, &c
8,834
Banking house, furniture and fixtures—
Other real estate owned
7,062
—
Due from national banks
(not reserve agents)—
Due from State and private
banks and bankers, trust
79
94
00
00
26
45
71
106,473 10
other
cash
Exchanges
120
BROADWAY, NEW YORK
At the Opening of Business July 1, 1910
ASSETS
LIABILITIES
$13,333,721
2.228.700
6,892,594
6.848,518
54 Capital Stock
00 Surplus
$2,000,000
7,000,000
253,053
193,000
62,411,270
85 Undivided Profits
51 Reserves
42.076.907 87 DEPOSITS
476,881 55
Miscellaneous
120,771 08
items
THE MERCANTILE TRUST COMPANY
Bonds and Stocks
Bonds and Mortgages
Cash on Hand
Cash on Deposit
Loans on Collateral
$502,879 90
companies and savings
banks
Checks and
STATEMENT OF
-
00
00
41
00
91
Clearing
for
413,290 94
House..
Notes of other
$71,857,324 32
national
35,500 00
banks
Fractional paper currency,
nickels and cents
Lawful money reserve in
bank, viz.:
10,679 40
2,045,322 20
236,916 00
Specie
Legal-tender notes
3,471,832 62
Redemption fund with U. S. Treasurer
(5% of circulation)-.-
JOHN T. TERRY, Vice-President
WILLIAM C. POILLON, Vice-President
GUY RICHARDS, Secretary ■HAROLD B.
THORNE, Treasurer
BETHUNE W. JONES, Assistant Secretary
GEORGE W. BENTON, Assistant Treasurer
HORACE E. DEUBLER, Auditor
19,950 00
45,000 00
Due from U. S. Treasurer
$12,156,782 77
Total
$71,857,324 32
OFFICERS
STATEMENT 07 THE
LIABILITIES.
$1,000,000 00
Capital stock paid in
1,000,000 00
Surplus fund
Undivided profits, less expenses and taxes
177,077 02
paid
National bank-notes outstanding
382,600 00
ISAAC MICHAELS, Trust Officer
-—■-
-
to
Due
other
national
banks
SI ,032,683 21
Due to State and private
banks and bankers
40,534 44
Due to trust companies
and savings banks
396,247 24
Dividends unpaid
17,586 00
Individual deposits sub-
-
-
OF THE CITY OF NEW YORK
AT THE CLOSE OF BUSINESS JUNE 30. 1910.
ASSETS.
7,622,184 03
Jecttocheck
Demand
certificates
200,683 50
223,104 05
Certified checks
Cashier’s checks outstand¬
Real Estate
51,083 28
1,000 00
ing
United States deposits
9,585,105 75
12 ,000 00
Reserved for taxes
Total.--.-$12,156,782 77
State of New York, County of New York, ss.:
I, W. L. DOUGLASS, Cashier of the above-named
bank, do solemnly swear that the above statement is
true to the best of my knowledge and belief.
W. L. DOUGLASS, Cashier.
Subscribed and sworn to before me this 1st day of
-
Interest Accrued
Cash in Banks
Cash on Hand
$2,982,910 51
3,333,219 58
GEO. DE WITT WEEKS,
$36,460,672 77
The
[No. 964.]
Mortgage-Bond Company
of New York
MARKET AND FULTON
NATIONAL BANK
59
At New York, In the State of New York, at the close of
business June 30, 1910:
Liberty Street, New York
$8,440,520 15
97 43
STATEMENT OF CONDITION JULY 1, 1910
240,000 00
10,000 00
77,700 00
Bonds, securities, &c.
Banking house, furniture and fixtures
ASSETS
550,000 00
LIABILITIES
(not reserve
agents)
746,307 34
Due from State and private banks and
bankers, trust companies and savings
banks
Checks and other cash Items
174,923
126,358
588,485
25,345
Exchanges for Clearing House
Notes of other national banks
Lawful money reserve in bank, viz.:
Legal-tender notes
$36,460,672 77
FREDERICK E. FRIED. Ass’t Secretary
REPORT OF THE CONDITION OF THE
Due from national banks
00
92
88
40
00
00
848,288 57
BRAYTON IVES, President
ANTON A. FtAVEN, Vice-President
GEORGE N. HARTMANN, Secretary
BEVERLY CHEW, 2d Vice-President
JAMES F. McNAMARA, 'Trust Officer.
BERTRAM CRUGER, Treasurer
RUPERT W. K. ANDERSON, Asst. Treasurer
Notary Public, Kings County.
W*ith certificate filed in New York County.
Correct—Attest:
R. W. POOR,
]
JAMES McCUTCHEON,
^Directors.
THOS. D. ADAMS,
J
RESOURCES.
Loans and discounts
Overdrafts, secured and unsecured
U. S. bonds to secure circulation
U. S. bonds to secure U. S. deposits
65,10174 Reserved for Taxes
388,101 33 Reserved for Rent—
Certified Checks
$2,000,000
7,913,011
25,433,955
158,666
100,000
6,750
6,316,130 09
-
1910.
[Seal]
LIABILITIES,
N. Y. City & State Bonds, mkt. val.$l,707,570 00 Capital
Other Stocks and Bonds
2,955,541 87 Surplus and Undivided Profits.
Bonds and Mortgages
871,600 00 DEPOSITSLoans
24,156,627 74 Interest Accrued
of
deposit
July,
Metropolitan Trust Company
-
70
85
47
00
$5,552,937.00 Capital
and other Bonds
448,156.00 Surplus
U. &
Interest Receivable..
Discount Account..
Cash.
1,021,464 00
$2,000,000.00
400,000.06
Undivided
Profits...
108,052.07
75,795,75
197,268.05 Mortgage-Bonds
3,056,200.00
76,581.46 Mortgage Certificates
808,741,00
Mortgages
»•••
.........
2.098.582 86
Interest
Redemption fund with U. S. Treasurer
(5 per cent of circulation)
Due from U. S. Treasurer
12,000 00
22,170 84
Total
Payable....
$6,382,994.58
$13,112,491 64
42,257,03
$6,302,994.50
LIABILITIES.
Capital stock paid in
Surplus fund
paid
681,799 45
195,700 00
748,366 38
National banknotes outstanding
Due to other national banks
Due to State and private banks and
bankers
Due to trust companies and savings banks
192,683
1,203,335
30,024
7,663,798
1,454
273,363
10,254
1,000
93,712
17,000
Dividends unpaid
Individual deposits subject to check
Demand certificates of deposit
Certified checks
Cashier's checks outstanding
United States deposits
Notes and bills re-discounted
Reserved for taxes
00
77
00
30
13
18
00
44
00
July,
T. J. STEVENS, Cashier.
before me this 2nd day of
sworn to
1910.
O. B.
Correct—Attest:
LEWIS, Notary Public.
A. GILBERT,
AARON J. BACH,
1
WM. C. DEMOREST,
J
[Directors.
GEORGE A.
HURD, President
MORTON C. COGGESHALL, Treasurer
COGGESHALL, i-Vice-Presidents GURDON M. MAYNARD, Secretary
RICHARD M. HURD,
EDWIN W.
IIILIAN D.
T
FAIRCHILD,
J
J. HENRY WESTON, Asst. Treasurer
99
Total
$13,112,491 64
State of New York, County of New York, ss.:
I, THOMAS J. STEVENS, Cashier of the abovenamed bank, do solemnly swear that the above state¬
ment Is true to the best of my knowledge and belief.
Subscribed and
OFFICERS
$1,000,000 00
1,000,000 00
t
Undivided profits, less expenses and taxes
Datth Statemetxts.
THE COAL & IRON NATIONAL
BANK
OF THE CITY OF NEW YORK.
STATEMENT AT THE CLOSE OF BUSINESS JUNE SO. 1010
RESOURCES
Loans and discounts
U. S. bonds at par
N. Y. City and other
Due from banks
Cash and exchange
LIABILITIES
$4,414,332 47
—..
bonds
.
.....
.
410,000
1,097,513
631,373
2,120,501
00
06
21
30
Capital stock
Surplus and profits (earned)
Circulation
Deposits
Reserve for taxes..
Dividend No. 15
....
$1,000,000
373,171
406,600
6.870.671
00
71
00
84
8,277 39
15,000 00
$8,673,720 94
$8,673,720 94
MEMBER NEW YORK CLEARINa-HOUSE ASSOCIATION
DEPOSITARY OP UNITED STATES CITY OP NEW YORK. STATE OF NEW YORK
THE CHRONICLE
XVIII
[VOL. LXXXil
Qxvi&t
gatxlt jglaljenxjettts.
ESTABLISHED 1812
I'Phenix Nat’l Bank
f.
208 FIFTH AVENUE
Corner Nassau and Liberty Sts.
OFFICERS
ALEXANDER S. WEBB JR., President
OWEN WARD, Vice-President.
ABRAM M. HYATT, Vice-President.
HORACE F. POOR. Treasurer.
JOSEPH Z. BRAY, Secretary.
BRECKENRIDGE CARROLL, Assistant Treasurer.
Statement of Condition at the Close of Business June 30,1910
ASSETS
$1,430,510 89
Cash In Vault
Cash in Banks
1,503,644 80
Demand Loans on Collateral-1,592,507 19
Time Loans on Collateral
2,9l8,6l8 50
Bills Purchased
1.934,513 42
-------
-
Bonds, Market Value
Stocks, Market Value
Bonds and
Mortgages
Rents Receivable
Accrued Interest Receivable--
1,948,667 50
385,800 00
1,136,226 99
708 34
38,610 05
LIABILITIES.
Capital
$1,000,000 00
-
Surplus
Undivided
500,000 00
Profits
68,554 13
Reserved for Taxes and Ex¬
15,77017
11,305,483 38
penses
Deposits
RESOURCES.
$12,889,807 68
Loans and Discounts
United States Bonds (Par)
Other Stocks and Bonds
Cash and Exchange
$12,889,807 68
-
DIRECTORS
W. D. BALDWIN
$16,912,238 30
ABRAM M. HYATT
ARTHUR ISELIN
BRADISH JOHNSON
CLARENCE H. KELSEY
W. DE LANCEY KOUNTZB
GEORGE LEASE
WILLIAM. G. McADOO
JOHN P. MUNN, M.D.
JAMES QUINLAN
GEORGE C. BOLDT
GEORGE O. CLARE
WILLIAM G. CONKLIN
ROBERT E. DOWLING
STUART DUNCAN
WILLIAM FELSINGER
ROBERT GOELET
SAMUEL V. HOFFMAN
$6,731,490 98
1,000,000 00
515,004 00
8,665,743 32
-
IRVING E. RAYMOND
WILLIAM SALOMON
B. AYMAR SANDS
ISAAC N. SELIGMAN
LOUIS STERN
SAMUEL D. STYLES
FRANK TILFORD
OWEN WARD
ALEXANDER S.WEBB JR
LIABILITIES.
$1,000,000 00
703,754 63
Capital
Surplus and Undivided Profits
Reserved tor Taxes.l
Reserved tor Dividends
Circulation
23,000 00
40,018 00
842,800 00
-
14,302,665 67
Deposits
$16,912,238 30
.
DIRECTORS
BROADWAY & LISPENARD ST.
BROADWAY
FREDERIC P. DAVIS. Manager.
NELSON
F
&
72D
GRIFFIN.
HENRY K. POMROY
AUGUST BELMONT
ST.
Pomroy Bros.
August Belmont & Co.
Manager.
EDWIN A. POTTER
E. W. BLOOMINGDALE
Capitalist.
Pres. Am. Trust A
.
Sav. Bk. .Chicago.
WM. PIERS0N HAMILTON
ALFRED M. BULL
bankcrs Trust company
7 WALL STREET,
on
June 30, 1910.
Department of the State of New York.
-
ELBERT H. GARY
EDWARD SHEARSON
Shearson, Hammlll Co.
00
67
80
83
68
Pres. Hartford Carpet
Attorney.
FINIS E. MARSHALL
Undivided Profits
Unpaid Dividends
Deposits
Certified and other Outstanding Checks
Reserved for Interest on Deposits
Reserved for Taxes
$84,694,147 79
DIRECTORS
E. C.
EDGAR L. MARSTON, Blair & Co., Bankers*
N. Y.
GEORGE W. PERKINS, J. P. Morgan & Co.,
Bankers, N. Y.
DANIEL E. POMEROY, Vice-President, N. y.
WILLIAM H. PORTER, President Chemical
Nat’l Bank, N. Y.
DANIEL G. REID, Vice-President Liberty Na¬
tional Bank, N. Y.
BENJ. STRONG Jr., Vice-President, New York.
EDWARD F. SW1NNEY, President First Na¬
tional Bank, Kansas City.
GILBERT G. THORNE, Vice-President National
Park Bank, N. Y.
EDWARD TOWNSEND, President Importers’ &
Traders’ National Bank, N. Y.
ALBERT H. WIGGIN, Vice-President Chase Na¬
tional Bank, N. Y.
SAMUEL WOOLVERTON, Pres. Gallatin Na¬
tional Bank, N. Y.
CONVERSE,
JR., Vice-President.
V. I. KENT, Vice-Pres.
H. W. DONOVAN, Trees.
B. STRONG
EDWIN R. CASE
NEW
JERSEY
Ho better State
SECURITIES
No better Securities
15 EXCHANGE PLACE
Toll. 366 and 751
JERSEY CITY
iR. T. Wilson & CoBankers ft Commission Merchant!
S3 WALL STREET.
T
c
-
NEW YORK
President.
00
00
68
00
46
57
82
26
President.
D. E, POMEROY, Vice-Pres.
F. N. B. CLOSE, Secy.
H P. WILSON JR., Asst. Sec’y.
OFFICERS.
FINIS E. MARSHALL, President
ALFRED M. BULL, Vice-Pres.
B. L. HASKINS, Cashier
H. C. HOOLEY, Ass’t Cashier
CHATHAM NATIONAL BANK
BROADWAY AND JOHN ST.. NEW YORK.
Report of Condition June 30, 1910
RESOURCES
Loans and Discounts
United States Bonds at par
Bonds and Securities.Real Estate
Due from Banks
Exchanges for Clearing House
Cash..
$10,852,095 04
Capital Stpck
Surplus and Profits (earned)
Strassburger
southern investment securities
StOFfaOMJfBY.MA.
$450,000
1,037,952
147,297
9,216,845
Circulation
Deposits
00
08
50
46
$10,852,095 04
GEORGE M. HARD, President
FRANK J. HEANEY. Vice-President
O. H. IMHOFF, Vice-President
WILLIAM H. STRAWN. Cashier
HKRNY L. CADMUS. Asst. Cashier
W.E. HUTTON A, CO.
Established
Members of
1886
fNew York Stock Exchange
{Chicago Board of Trade
l Cincinnati Stock Exchange
25 Broad Street.
B. W.
$6,696,593 83
151,000 00
412,082 95
125,000 00
713,973 18
469,611 97
2,283,833 11
LIABILITIES
OTTO JULIUS MERKEL
BROKER
44 AND 46 WALL
StRjEET, NEW YORK
INVESTME^tf SEC UMl TIBS
CorreiDondeace invited.
Corp.
GEORGE C0FFIN6 WARNER
LIABILITIES.
$3,000.000
4,500,000
1,631,174
120,000
68,408,353
6,937,963
42,056
54,599
Pres. Erie RR. Co.
ROBERT P. PERKINS
; 365,069 81
Capital
Surplus
FREDERICK 0. UNDERWOOD
Harvey Fisk & Sons.
$84,694,147 79
STEPHEN BAKER, President Bank of the Man¬
hattan Co., N. Y.
SAMUEL G. BAYNE, President Seaboard Na¬
tional Bank, N. Y.
EDWIN M. BULKLEY, Spencer Trask & Co.,
Bankers, N. Y.
JAMES G. CANNON, Vice-President Fourth Na¬
tional Bank, N. Y.
EDMUND C. CONVERSE, President, New York.
HENRY P. DAVISON, J. P. Morgan & Co.,
4
Bankers, N. Y.
WALTER E. FREW, Vice-President Corn Ex¬
change Bank, N, Y.
FREDERICK T.
HASKELL,
Vice-President
Ill. Trust & Savings Bank. Chicago.
A. BARTON HEPBURN, President Chase Na¬
tional Bank, N. Y.
THOMAS W. LAMONT, Vice-President First Na¬
tional Bank, N. Y.
GATES W. McGARRAH, President Mechanics’
& Metals Natl Bank, N. Y.
Pres. Com. Nat. Bank,
Chicago.
Chairman Board U. S.
Steel Corp’n.
R. H. HIGGINS
$16,957.350
35,543,106
11,764,025
19,626,987
437,607
Co.
GEO. E. ROBERTS
Clark, Dodge & Co.
RESOURCES.
Stocks and Bonds
Time Loans and Bills Purchased
Demand Loans
Cash on Hand and in Banks
Accrued Interest Receivable
Officer Building--
J. P. Morgan &
D. CRAWFORD CLARK
NEW YORK
Condensed Statement of Condition
As Reported to the Banking
Vice-President.
New York
Private wires to Chicago, C ncinnati. San
Francisco, Salt Lake City and Los Angeles.
First Nat. Bank
Bldg., Cincinnati
JVLY 9
1910.]
THE CHRONICLE
xn
HatxTi ^tatjemcnts.
LINCOLN NATIONAL BANK
OF THE CITY OF
NEW YORK.
Organized
STATEMENT' OF CONDITION OF
1882
Capital, Surplus & Undivided Profits
$2,526,635.00
JUNE 30, 1910
Capital
Surplus
81,000,000.00
$1,000,000.00
$526,635.00
$22,581,470.00
$26,660,535-00
Undivided Profits
Deposits
Total
resources
OFFICERS
THOMAS L. JAMES, President
E. V. W. ROSSITER, Vice-President
WM. A. SIMONSON. Vice-President
CHAS. ELLIOT WARREN, Vice-President
DAVID C. GRANT. Cashier
JOHN S. SAMMIS JR., Asst. Cashier
HENRY E. STUBING, Asst. Cashier
AT THE CLOSE OF BUSINESS JUNE 30, 1910.
RESOURCES.
Time Loans and Discounts
$16,117,239 19
U. S. Bonds (at par) to secure cir¬
culation
1,995,100 00
U. S. and other Bonds (at
par) to
secure U. S.
Deposits
206,000 00
Demand Loans.
Joseph P. Grace
M. Hartley Doc’ge
Wm. Brewster
312,233 75
$3,118,355 25
2,457,098 17
Due from Banks
William G. Rockefeller
Eben E. Olcott
W. K. Vanderbilt Jr.
Harry J. Luce
OF NEW YORK
Bonds, Securities, &c
DIRECTORS
Thomas L. James
Matthew O. D. Borden
Charles C. Clarke
E. V. W. Rossi ter
James Stillman
The Citizens Central National Bank
Exchanges
and other
Cash Items
4,289,477 91
Cash on hand
5,307,969 28
Due from United States
Treasurer.
214,079 24
LIABILITIES.
Capital Stock paid in
Surplus
•S
-
Undivided Profits
Reserved for interest unearned on
Bills discounted
National Bank Notes Outstanding
Reserved for Taxes.
Due
to
Banks and
Trust Companies...$6,999,425 21
Individual Deposits—20,700,594 21
United States Deposits
141,005 63
$2,550,000 00
1,000,000 00
494,204 75
150,000 00
1,956,497 50
25,825 49
27,841,025 05#
*
15,386,979 85
Henry C. Phipps
$34,017,552 79
QUARTERLY REPORT OF
$34,017,552 79
THE NASSAU BANK OF NEW YORK
At the close of business June 30,1910.
RESOURCES.
Loans and discounts
$6,946,790
Due from banks and bankers
817,889
Real estate
4,000
Bonds.
144,140
Bond and mortgage
34,000
Cash In vault.
1,710,896
Exchanges for next day's clearings
599,260
Accrued Interest not entered
12,000
00
00
00
30
40
00
Capital stock
$500,000
521,843
10,000
9,209,906
22,227
5,000
Surplus and undivided profits
Reserved for taxes
Deposits
...
00
25
00
13
25
00
$10,268,976 63
OFFICERS
EDWARD EARL, President.
J. C. BELL,
W. B. NOBLE,
Vice-President.
Cashier.
JOHN MUNRO,
H. P. STURR,
Vice-President.
Asst. Cashier.
DIRECTORS.
J. C. Bell,
John Munro,
Samuel R.Weed,
OF
NEW
139
YORK
BROADWAY
Condensed Statement June 30, 1910.
RESOURCES.
Loans and Discounts.:.
$19,505,966 43
U. S. Bonds to secure Circulation..
500,000 00
U. S. Bonds to secure U. S. De¬
posits
Bonds. Securities,
1,000 00
1,658,878 86
etc
Due from Banks
$1,984,610 12
LIABILITIES.
Capital Stock.
Surplus Fund
$1,000,000 00
2,000,000
717,748
,500,000
28,583,756
25,666
Undivided Profits
Circulation
Deposits
Reserve for Taxes
Exchanges for Clear¬
ing House
4.690,852 79
Cash...
4,485.863 07 11,161,325 98
$32,827,171 27
FREDERICK B. SCHENCK
G. REID
ZOHETH S. FREEMAN -
00
45
00
15
67
$32,827,171 27
President
CHAS. W. RIECKS - Vioe-Prest. and Cashier
FREDERICK P. McGLYNN - Asst. Cashier
HENRY S. BARTOW
Asst. Cashier
HENRY P. DAVISON, Chairman Executive Committee
DANIEL
Harry Bronner,
Richard Young,
Henry C. Miller/
LIBERTY NATIONAL BANK
$10,268,976 63
LIABILITIES.
Cashier’s checks
Accrued Interest not entered
THE
05
88
Edward Earl.
-
-
Vice-President
Vice-President
-
REPORT OF THE CONDITION OF
THE HANOVER NATIONAL BANK
of the City of New York, at New York, In the State of
New York, at the close of business June 30th, 1910:
RESOURCES.
Loans and discounts
Overdrafts
U. S. bonds to secure circulation
U. S. bonds to secure U. S. deposits
U. S. bonds on hand
$51,504,543
1,842
1,600,000
150,000
25,900
8,188,680
5,343,000
2,978,414
2,201,948
280,848
30,882,205
70,435
Bonds, securities, &c
Banking house
Due from other national banks
Dae from State banks and bankers
Checks and other cash items-.
Exchanges for Clearing House..
Notes of other national banks
Nickels and pennies
72
00
00
00
79
00
02
05
72
93
00
904 87
Specie
Legal tender notes
Redemption fund with U. S. Treasurer..
Due from U. S. Treasurer
46
9,553,043 46
6,473,295 00
80,000 00
NEW YORK PRODUCE EXCHANGE BANK
Member of the New York Clearing-House Association
Condensed
LIABILITIES.
$119,574,062 02
Undivided profits, less expenses and
taxespaid
National bank-notes outstanding.
Dividends unpaid
Individual deposits sub¬
ject to check
.$26,035,208 01
Demand
certificates
of
deposit
18,018 49
Certified checks.
19,541,812 90
Cashier’s checks outstand¬
ing
1,528,438 31
Due
to
other national
banks
.$25,897,497 78
Due to State banks and
bankers
11,307,884 29
Due to trust companies
and savings banks
17,018,989 84
$3,000,000 00
11,500,000 00
207,416 11
1,585,800 00
121,982 00
Fixtures,
Head
Office
Exchanges for Clearing House
Accrued Interest (net)
$12,481,453 88
OFFICERS
FORREST H. PARKER, President.
JOHN R. WOOD, Cashier.
*
I
j
00
00
88
00
7,000 00
$12,481,453 8
ADELBERT H. ALDEN, Vice-President.
THOMAS B. NICHOLS, Asst. Cashier.
DIRECTORS
Adelbert H. Alden, President New York Com¬
mercial Company.
John E. Berwlnd, Vice-President Berwind White
Coal Mining Co.
John A. Hance, Jesup & Lamont, Bankers.
Walter C. Hubbard, Hubbard Bros. & Co.,
Cotton Merchants.
James McMahon, ex-President Emigrant Indus¬
trial Savings Bank.
14TH STREET AND EIGHTH AVE.
Forrest H. Parker, ex-Presldent New York Pro
duce Exchange.
Edward C. Rice, Rice, Qulnby & Co., Commlgsion Merchants, Grain and Flour.
Albert S. Roe, Director Ontario Car. & S. HR.
John E. Weeks. M. D.. 46 East 57th St.. N
York.
John R. Wood, Cashier.
INVITED.
WM. J.
CARTER,
Notary Public,
New York County.
WILLIAM WOODWARD, )
^Directors.
J
THE 14th STREET BANK
FIFTH AVENUE & 14TH ST..
NEW YORK.
NEW YORK.
STATEMENT JUNE 30, 1910
Condensed Statement June 30, 1910.
RESOURCES.
RESOURCES.
Loans and discounts
United States bonds
Bonds and securities
Real estate and fixtures
$5,809,576
350,000
1,823,507
450,911
472,54 5
2,446,505
Exchanges for Clearing House
Cash and reserve
July, 1910.
130,000 00
670,000 00
2,621,537 44
819,627 22
17,946 76
Banking House and Lot
Cash and Cash Items
New York County National Bank
State of New York, County of New York,
ss.:
I, ELMER E. WHITTAKER, Cashier of the Hanover
National Bank of the City of New York, do
solemnly
swear that the above statement is true
to the best of
my knowledge and belief.
ELMER E. WHITTAKER, Cashier.
Subscribed and sworn to before me this first day of
ELIJAH P. SMITH,
EDWIN G. MERRILL,
Reserved for taxes
$1,000,000
500,000
238,793
10,735,660
47,123,477 71
$119,574,062 02
Correct—Attest:
Deposits
and
Branches
ACCOUNTS
54,224,371 91
1,546,014 29
265,000 00
United States deposits...
Bonds borrowed
Undivided Profits
...
239,000 00
Capital stock paid In.
Surplus fund
LIABILITIES.
Capital Stock
Surplus (earned)
Loans and Discounts
$6,435,757 21
Due from Banks
390,045 25
Securities
1,396,540 00
Safe Deposit Vaults, Furniture and
(other than
5% fund)
.
Quarterly Report at the close of business June 30, 1910
RESOURCES.
LIABILITIES.
45
00
47
52
84
56
$11,353,046 84
Capital stock, surplus And profits.. $2,104,668 92
Circulation
DEPOSITS
,
——
198,100 00
9,050,277 92
$11,353,046 84
JAMES O. BROWER. Cashier.
Loans and Discounts
Stocks and Ronds
Real Estate
Vaults, Furniture and Fixtures
Mortgages owned
Accrued Interest
Cash—on Hand and In Banks
LIABILITIES.
Capital
Surplus and Profits
Deposits
__$5,284,722 26
11,020 00
150,741 56
27,500 00
24,299 32
7,100 00
3,496,181 97
$9,001,565 11
$1,000,000 00
332,547 98
7,669,017 13
$9,001,565 11
R. ROSS APPLETON. President.
LOUIS V. ENNIS. Cashier.
THE CHRONICLE
XX.
[VOL. LXXXXI.
ggitxaixctal,
%ginKUcixX.
To the Holders of
WESTIN6H0USE ELECTRIC & MANUFACTURING CO.
THKEE-YEAR t% COLLATERAL NOTES, DOE AUGUST 1,1910
Notice Is hereby given
that the above Notes will be paid on
seirtation and surrender of the same at the office
and after August 1, 1910,
provide In part for the funds required to pay the above §6,000,000 Notes, this Com¬
pany has sold to Messrs. Kuhn, Loeb & Co. a new issue of $4,0D0,000 face value of Three-Year 6%
Collateral Notes, due August 1, 1913.
The remaining $2,000,000 will be provided from surplus treasUry
Holders of the maturing Notes are referred to the advertisement of Messrs. Kuhn, Loeb & Co.,
printed hereunder, for the terms on which maturing Notes may be exchanged for the new Notes.
By T. W. SIEMON, Treasurer.
\ Referring to the above notice of the Westinghouse Electric & Manufacturing Company, the
undersigned offer to holders of that Company’s Three-Year 6% Collateral Notes, due August 1, 1910,
the privilege of exchanging the same, par for par, for new Three-Year 6% Collateral Notes, due
August 1.1913.
For full particulars as to the new issue of Notes, reference is made to a letter from Robert Mather,
Esq., Chairman of the Board of the Westinghouse Electric & Manufacturing Company, copies of which
may be obtained from the undersigned.
This offer is subject to withdrawal without notice.
*
•
KUHN, LOEB & CO.,
New York,
William
July 8, 1910.
and
Pine Streets
THE DENVER & RIO GRANDE
Office of
RAILROAD COMPANY
H.
(Consolidated).
165 Broadway, New York,.June 2d, 1910.
The Board of Directors has this day declared a
semi-annual dividend of TWO AND ONE-HALF
PER CENT (2 lA%) on the Preferred Stock of
this Company, payable July 15th, 1910, to stock¬
holders of record on June 24, 1910.
The transfer books of the Preferred Stock will
close on June 24th, 1910, and will reopen on the
morning of July 6th, 1910.
STEPHEN LITTLE, Secretary.
)
M.
BYLLESBY
1910, to stockholders of record at 3:00 o’clock
P. M., June 30, 1910.
Checks for the dividend will be mailed to
stockholders at the addresses last furnished to
the Transfer Office.
G. C. HAND, Secretary.
PREFERRED DIVIDEND NO. 17.
The Board of Directors of the OTTUMWA
RAILWAY AND LIGHT COMPANY of Ottum¬
wa,
Iowa, has declared a quarterly dividend of
and three-quarters per cent (1 H%) upon the
preferred stock of this company, payable by check
July 15, 1910, to stockholders of record as of the
close of business June 30, i910.
ROBERT J. GRAF, Secretary.
one
Office of
H. M. BYLLESBY
has
declared
The Board of Directors of the FORT SMITH
LIGHT AND TRACTION COMPANY of Fort
BYLLESBY
July
1st,
the
above-named
1910, will not be
cou
bonds
maturing
paid.
Upon this
interests require the prompt and
default
your
careful determination of the action to be taken.
In view of the existing lease to the Buffalo &
Susquehanna Railway Company, under which
payment of the principal and Interest of your
bonds is guaranteed, and in view of the existing
receivership of the property of the lessee com¬
pany In foreclosure proceedings.
If It Is deter¬
mined
to
move
the
Trustee
of
your
mortgage
proceedings at once, the
Trustee will undoubtedly require as a condition
of bringing such proceedings appropriate Indem¬
nity, and may require a request on behalf of a
large proportion of the bondholders.
considerations
COMPANY,
Managers.
_
AMERICAN LIGHT fc TRACTION COMPANY.
40 Wall St., N. Y. City, July 5, 1910.
The Board of Directors this day declared from
the net earnings of the Company the regular
quarterly dividend of One and One-Half Per Cent
(1 H%) on the Preferred Stock of this Company,
payable August 1, 1910, to stockholders of record
of Preferred Stock at the close of business July 16,
SIMPSON, THACHER & BARTLETT,
Counsel.
givi&m&s.
Engineers,
outstanding, payable
on or before August 15,
1910, to stockholders of record of Common Stock
at the close of business July 16, 1910.
The Transfer Books for both Preferred and
Common Stock will close July 16, 1910, at twelve
o’clock noon, and will reopen August 1, 1910,
at ten o’clock A. M.
C. N. JELLIFFE, Secretary.
Company
July 7 1910.
United States
Rubber Company has this day declared from its
net profits a quarterly dividend of Two Per Cent
on the First Preferred Stock (including all out¬
standing old “Preferred” Stock), and a quarterly
dividend of One and one-half Per Cent on the
Second Preferred Stock of this Company, to Stock¬
holders of record at 3 p. m. on Friday, July 15th,
1910, payable without closing of the Transfer
Books July 30th, 1910.
JAMES B. PORD, Treasurer.
COMPANY,
Managers.
Chicago.
The Board of Directors of the NORTHERN
STATES POWER COMPANY has declared a
quarterly dividend of one and three-quarters per
cent (lJi%) upon the preferred stock of this
company, payable by check July 15, 1910, to
stockholders of record as of the close of business
COMPANY
A quarterly dividend of Two Per Cent on the
capital stock of this Company has been declared,
payable July 15, 1910, at the office of the Treas¬
urer, 131 State Street, Boston, Mass., to stock¬
holders of record at the close of business June 28
GRAF, Secretary.
,
1910.
CHARLES A. HUBBARD, Treasurer.
June 30, 1910.
Office of the
UNITED
GAS
IMPROVEMENT
COMPANY.
N. W. Corner Broad and Arch Streets,
1910.
The
Board also declared from the undivided
profits of the Company a quarterly dividend of
Two and One-Half Per Cent (2H%) on the
Common Stock of the Company, payable August 1,
1910, to stockholders of record of Common Stock
at the close of business July 16, 1910.
The Board also declared from the undivided
profits of the Company a dividend of Two and
One-Half (2 }4) shares of Common Stock on every
One Hundred (100) shares of Common Stock
FRUIT
DIVIDEND NO. 44
&
ROBERT J.
to
LYMAN RHOADES, Secretary.
15 Nassau Street,
New York City.
UNITED
BYLLESBY
Committee
ALVIN W. KRECH. Chairman;
JOHN L. BILLARD,
JACOB S. FARLEE.
JAMES S. KUHN.
CHARLES LATHROP PACK.
EDWARD B. SMITH.
ROBERT WINSOR,
Committee.
Office of
M.
the
Dated June 28, 1910.
record as of the close of business June 30, 1910.
ROBERT J. GRAF, Assistant Secretary.
H.
lead
again bring the matter to the attention of such
of you as have not already deposited your bonds,
and suggest that they should promptly deposit
them, under the deposit agreement dated May 4,
1910, with THE EQUITABLE TRUST COM¬
PANY OF NEW YORK, 15 Nassau Street,
New York City; GIRARD TRUST COMPANY,
corner
Broad and Chestnut Streets, Philadel¬
phia;
OLD COLONY TRUST COMPANY. 1
Court
Street, Boston, or the CLEVELAND
TRUST COMPANY, corner Euclid Avenue and
Ninth Street,
Cleveland.
Transferable certifi¬
cates of deposit will be Issued for all bonds so
deposited.
Chicago.
be mailed.
D. S. HAHN, Secretary.
&
E ngi neers,
regular quarterly dividend of One and One-Half
Per Cent upon the Preferred Stock, payable
August 1st, 1910, to stockholders of record at the
close of business July 15th, 1910.
Checks will
on
Office of
H. M.
The Board of Directors of the Lewiston Augusta
Watervllle Street Railway has declared the
42 Broadway, New York,
Board of Directors of the
pons
City, Oklahoma, has declared a quarterly divi¬
dend of one and three-quarters per cent (1 M%)
upon the preferred stock of this company, pay¬
able by check July 15, 1910, to stockholders of
Office of the
LEWISTON AUGUSTA & WATERVILLE
STREET RAILWAY.
The
New York have been elected counsel.
The Committee has been informed that
Smith, Arkansas, has declared a quarterly divi¬
one and three-quarters per cent
(1 H%)
upon the preferred stock of this company, pay¬
able by check July 15, 1910, to stockholders of
record as of the close of business June 30, 1910.
ROBERT J. GRAF, Assistant Secretary.
The Board of Directors of the OKLAHOMA
GAS AND ELECTRIC COMPANY of Oklahoma
PREFERRED DIVIDEND NO. 1.
United States Rubber
Smith have become members of the Committee,
Messrs. Simpson, Thacher & Bartlett of
dend of
the
Secretary.
&
Managers.
Chicago.
regular quarterly dividend of One and OneQuarter Per Cent upon the Preferred Stock,
payable August 1st, 1910, to stockholders of
record at the close of business July 15th,1910.
Checks will be mailed.
G. L. ESTABROOK,
& COMPANY,
Engineers.
Office of the
EAST ST. LOUIS & SUBURBAN CO.
Directors
Managers.
Chicago.
THE KANSAS CITY SOUTHERN
RAILWAY COMPANY.
of
The number of the undersigned Committee
having been Increased from five to seven, and
a vacancy
having occurred, Messrs. Jacob S.
Farlee, Charles Lathrop Pack and Edward B.
These
& COMPANY,
Engineers,
r
No. 25 Broad Street, New York, June 20,1910.
A quarterly dividend of ONE
PER CENT
(1%) nas this day been declared upon the Pre¬
ferred Stock of this Company, from surplus earn¬
ings of the current fiscal year, payable July 15,
Board
To the Holders of Bonds of the Above Issue:
to Institute foreclosure
gixrijtlcnxls
The
Refunding Four Per Cent
Mortgage Bonds
Gold
and
WESTIN6N0USE ELECTRIC & MANUFACTURING CU.
8, 1910.
First
upon pre,
of the Mercantile Trust Company, 120 Broadway
New York.
In order to
New York, July
BUFFALO & SUSQUEHANNA
RAILROAD COMPANY
Office of
BYLLESBY & COMPANY
Engineers,
Managers.
H. M.
Chicago.
The Board of Directors of the SAN DIEGO
CONSOLIDATED GAS AND ELECTRIC COM¬
PANY of San Diego, California, has declared a
quarterly dividend of one and three-quarters
per cent (1 K%) upon the preferred stock of this
company, payable by check July 15th, 1910, to
stockholders of record as of the close of business
June 30th, 1910.
ROBERT J. GRAF, Assistant Secretary.
American Telephone &
Telegraph Co.
A Dividend of Two
Dollars per share will be
Friday, July 15th, 1910, to stockholders
of record at the close of business on Thursday,
paid
on
June 30,
1910.
Philadelphia, June 8, 1910.
The Directors have this day declared a quar¬
terly dividend of two per cent ($1.00 per share),
payable July 15, 1910, to stockholders of record
busldess, June 30, 1910.
at the close of
Checks will be mailed.
LEWIS LILLIE. Treasurer.
WKunie*.
MAN,
with
several
years’ experience in
the
management of banking business of prominent
New York firm desires position with banking
house, trust company or corporation where
ability, character, integrity and zeal are appre¬
ciated.
References of highest order.
Address
“W. R. F.,” Care Commercial and Financial
Chronicle, P. O. Box 958, New York City.
WILLIAM R. DRIVER, Treasurer.
international paper company.
A dividend of ONE-HALF OF ONE PE]
A
CENT
on
the Preferred Stock has been declare
payable July 15th, 1910,
to Preferred Stocl
holders of record at the close of business 3 p. n
July 5th, 1910. Transfer books will remain oper
Checks mailed.
E. W. HYDE, Secretary.
AN ACTIVE BOND HOUSE of good standing
doing mostly a street business desires to form
a partnership with a member of the New York
Stock Exchange, preferably one who is already
in the bond crowd.
Replies treated in confidence.
“Bonds,’’ Care Commercial and Financial Chron¬
icle, P. O. Box 958, New York City.
July 9
1910.]
THE CHRONICLE
TTT
gittatteial.
SEMI-ANNUAL REPORT OF
Lawyers Mortgage Company
JULY 1st, 1910.
To the Board
RICHARD M. HURD, President.
Directors I
of
Gentlemen—The most notable incident in the business of the
Lawyers Mortgage Company during the past six. months has been the increase of
the Outstanding Guaranteed Mortgages of the Company to over §100,000,000.
Tne total sales of Guaranteed Mortgages for the past six months
have been §21,740,235—the net increase in Outstanding Guaranteed
Mortgages
§103,021,787.
The comparative figures for the same period in recent years
to
§8,319,307, and the Outstanding Guaranteed Mortgages
are as
Mortgages
First
First
First
First
First
First
First
Six
Six
Six
Six
Six
Six
Six
First Six
Months
Months
Months
Months
Months
Months
Months
Months
of
of
of
of
of
of
of
of
Company for the first half of
EARNINGS.
Gross Earnings
1st Hal)
1909.
1st Hal)
1908.
1st Hal)
1907.
1st Hal)
1906.
$243,308 §198,646 §159,497 $142,096 $109,427
125,101
100,393
108,527
93,163
86,903
11,109
3,741
8,359
6,930
5,924
.
.
.§379,518 §302,780 §276,383 $242,189 $202,254
EXPENSES.
1st Hal)
1910.
Rent
Salaries
.
.
..
.
Advertising and Stationery
Taxes and General
Exp.
Expenses
as
.
Net Earnings
The rates of
f All/NtlTO*
follows:
1902
1903
1904
1905..
1906
..
§9,500
50,898
7,851
9,709
$77,958
Is* Hal)
1909.
1st Hal)
1908.
§9,500
41,991
7,262
1st Hal)
1907.
1st Hal)
1906.
14,128
§4,687
34,820
6,817
8,537
32,668
6,227
8,377
§3,047
26,874
6,522
12,699
§72,881
§54,861
§51,147
§49,142
§3,875
§301,560 $229,899 §221,822 §191,042 $153,112
Earnings and Dividends on the Capital Stock have been
Earns. Divs.
6%
7%
8%
5%
5%
6%
7%
8%
11%
13%
Capital.
Earns.
Divs.
1907.. ..§2,500,000
1908...
2,500,000
16%
10%
18%
10%
1909... -.*3,250,000
15 H% 12%
1910.__
4,000,000 £15%
212%
..
--
*
Average Capital §3,250,000.
July 1,
$2,500,000 to $4,000,000.
a: Annual rate.
1909,
$6,826,617 01
PREMIUMS.
00
00
04
08
89
$6,826,617 01
Since the former Increase in the Company’s capital in March, 1903,
Divi¬
dends have been paid to Stockholders amounting to
$1,780,000 in addition
to which $875,651 has been carried to
Surplus or Unldvlded Profits, making
total net earnings of $2,655,651.
In addition to these earnings the net
ncrease in Unearned Premiums from
January 1st, 1903, to June 30th,
1910, amounts to $1,140,320.
The Assets and Liabilities of the Company have been verified and
the
Company’s accounts certified as of June 30th, 1910, by THE AUDIT
COMPANY OF NEW YORK.
There are 7,538 mortgages outstanding, the average loan
being $38,000
in Manhattan, $5,800 in Brooklyn and $15,000 in the Bronx.
An analysis of the Guaranteed Mortgages sold
during the first six months
of 1910 shows the following facts:
DISTRIBUTION BY CUSTOMERS.
Savings Banks
Trustees
I nd lvi duals
j.
Charitable Institutions
Insurance Companies
Trust Companies
*
$2,463,000
5,162,475
7,644,360
1,538,100
4,490,000
442,350
$21,740,285
From these conservative classes of Investors the
In addition to the cash earnings are the Unearned Premiums, which con¬
sist of the Company’s contract profit of one-half per cent per annum on
outstanding mortgages from the date of this statement to the maturity
of the mortgages.
These future profits—which are not carried as assets—
amount to §1^243,875.
The
Outstanding Guaranteed
Mortgages July 1st.
§14,926,525
22,458,408
35,884,662
48,282,077
60,342,971
69,131,168
86,905,963
103,021,787
June 30th, 1910, were:
Capital increased from
The large Increase in Outstanding Guaranteed Mortgages during the past
six months is but little reflected in the earnings for that period, but will
show in future earnings.
UNEARNED
amount
The Assets and Liabilities of the Company on
Assets'
LiabilitiesN. Y. City Mortgages. .§5,217,968 14 Capital
§4,000.000
Accrued Int. Receivable
246,595 18 Surplus
2,000,000
Company’s
Undivided Profits
Brooklyn
309,329
Building, cost
175,000 00 Mortgages Sold, not
Real Estate
delivered
110,607 97
462,005
Cash
1,076,445 72 Reserved for Prem’s.&c.
55,282
^
Capital.
§1,000,000
2,500,000
2,500,000
2,500,000
2,500,000
Outstanding
Mortgages.
§2,922,277
4,490,660
7,774,265
7,405,296
5,888,821
5,351,443
9,628,029
8,319,307
§4,633,264
7,643,910
12,732,840
12,629,387
12,105,512
12,942,259
16,897,501
.21,740,285
1st Hal)
1910.
Premiums for Guarantees
Interest on Mortgages
Rent, Commissions, etc..
Net Gain in
Guaranteed
Sold.
1903
1904
1905
1906
1907
1908
1909
1910
The Gross Earnings and Net Profits of the
recent years have been as follows:
now
follows:
Company continues to
is evidenced by the following figures:
NUMBER OF CUSTOMERS.
DISTRIBUTION BY RATES.
July 1st, 1903..
705 Mortgages sold to net 4
July 1st, 1904
853
per cent
*
$509,000
July 1st, 1905..
1,240 Mortgages sold to net 4 H
July 1st, 1906
1,644
per cent
20,175,835
July 1st, 1907
2,128 Mortgages sold to net 5
July 1st, 1908
2,505
percent
1,055,450
July 1st, 1909
3,018
gain new customers,
July 1st, 1910
as
3,397
$21,740,285
following shows the distribution of the total Outstanding Guar. Mort’s. of the Co. July 1st, 1910, in Manhattan, the Bronx and Brooklyn:
NEWWIk^o
.1
1052
g/vy.BWAVXIfl
c|6o.
f^ L.^pAYS.TT
5
-
*>
o)
1*643’ ooo
*
eighth
_
2 5 o(> \ 500.
$
av£.
4^6000.
4-~pafk;
1—Jr
3059-5oof|Q q-i 16<8 52. *
I"
“2-72.6
000
w5oo -1
2
BRONX.
1164s.350,
* ‘
IT ^BROOKLYN.'!
#27703973. t
It is worthy of note that 62 per cent of the Company’s mortgages are on
Manhattan Island, while 27 per cent are in Brooklyn and 11 per cent in the
Bronx.
VALUATIONS OF LAND AND BUILDINGS AND FIRE INSURANCE.
Value of Land. Val. of Bldgs.
Total.
Mtge. Loans. Fire Ins.
3
$
$
S
$
Manhattan ...52,328,030 45,215,850
97,543,880
62,483,362 50,119,100
Brooklyn
14.133,835 33.720.990
47,854,825
27,703.973 31,500,580
Bronx
6,228,050 12,805,800
19,033,850
11,645,350 12,667,000
Mtge. Ctfs
919,000
938,500
1,857,500
1,189,102
1,010,000
The
73,608,915 92,681,140 166,290,055 103,021,787 95,296,680
by the Company is 62 per cent of the
average amount loaned
Company’s own appraisal.
For the absolute protection of the holders of Guaranteed Mortgages, the
Board of Directors has adopted the following By-Laws:
“The amount of outstanding Guaranteed Mortgages shall not exceed
twenty times the Capital and Surplus of the Company.
This Article
shall not be amended or repealed except with the written consent,
duly acknowledged, of the holders of all the policies of mortgage insur¬
ance then outstanding issued by the
Company.”
“Mortgages shall be guaranteed by the Company only when secured
by real estate Improved for business or residence purposes, and situated
within the present limits of the City of New York, or such enlarge¬
ments thereof as may hereafter be fixed
by law.
“Such mortgages shall not exceed two-tlilrds of the valuation of the
real estate security as ascertained by the
Company’s appraisers orsuch
larger percentage of said valuation as may be fixed by the law's of the
State of New York for the Investment of funds held
by Trustees, Trust
Companies or Life Insurance Companies.
“The charge of the Company for guaranteeing the
payment of mort¬
gages shall not exceed one-half of one per cent per annum of the principal
amount guaranteed.”
“This Article shall not be amended or repealed
except by the written
consent of three-fourths of the Directors then in office, and
by vote of
a majority of all the
outstanding stock of the Company at a special
Stockholders’ meeting called for that purpose.”
These limitations have been for many years in use by the Company, and
their effectiveness in safeguarding the Company’s mortgage Investments is
clearly evidenced by its unusually clean record in the matter of delinquent
interest and foreclosures.
The Company has now under foreclosure only
28 mortgages, many of which will probably be paid off prior to foreclosure
sale.
The Company has recently purchased under foreclosure real estate
valued at §110,608.
This property is being put in good physical con¬
dition, and as soon as repaired and rented will be offered for sale.
The
amount of interest delinquent more than one month is only $5,149.
The steady growth of the Company’s business during the past few years,
bringing the outstanding Guaranteed
Mortgages up to over ONE
HUNDRED MILLION DOLLARS, evidences clearly the public appre¬
ciation of the security of the guaranty of this Company.
In addition to
the $6,000,000 of Capital and Surplus of the Company, investors are
protected by the careful methods of lending developed by the Company’s
fifteen years of valuable experience.
To be entirely safe in lending, it is
necessary to have technical knowledge and correct judgment, and to use
constant watchfulness over the movements of population, the shifting of
nationalities, the new transportation systems, and all the complex changes
of Industries and habitations within the city, which affect the value of land
and buildings.
The business
of guaranteeing mortgages runs smoothly in prosperous
times, but requires in periods of depression close attention to the enforce¬
ment of payment of interest and taxes, the maintenance of the physical
condition of properties and the safeguarding in every way of the Interests
of the Company’s clients.
Alternations of prosperity and depression are
certain to come, and it behooves a prudent management not to be carried
away by high prices for real estate in prosperous times, but to adhere
to conservative real estate valuations.
With sound and cautious methods,
and with limitations on the character and amount of its mortgage invest¬
ments—not enforced by any other mortgage company—it is believed that
this Company will render to Its clients not only the service which in periods
of prosperity it now furnishes, but an even more valuable service when
periods of depression arrive.
Eg
Copy of this report in pamphlet form mailed on request.
fa
THE CHRONICLE
XXII
fVOL.
LXXXXI.
ffiimucial.
i '
Gable Address:
“
Codes Used;
Hought ” Chicago
Lieber and ABC 5th Edition
(Established 1865)
181 La Salle Street,
CHICAGO
We
j
carry
at all times a conservative line of high-grade Investment Securities, including:
1
CHICAGO REAL ESTATE MORTGAGES
'
In amounts of from $10,000 to $100,000 each, secured upon
jjOur judgment in such important requirements
valuation of security, quality of improvements, de¬
as
sirability of location and income value is the result of
"in the Chicago field.
valuable improved Chicago Real Estate.
over
forty years7 active and continuous experience
Such mortgages yield from 5 to 6%.
ii:
.
I
CHICAGO REAL ESTATE SERIAL GOLD BONDS
In denominations of $500 and $1,000 each, secured
^Apartment Buildings, well-located Mercantile
Office
or
by first mortgage
Manufacturing Buildings,
or
upon
high-grade modern
large modern down-town
Buildings—a most convenient and desirable form of investment yielding from 5 to 6%.
■
RAILROAD, CAR EQUIPMENT AND TRACTION BONDS
Having behind them in
every case a
earnings and sound management.
substantial margin of security, successful history, ample
Such bonds yield from
to 5}4%.
STEAMSHIP BONDS
First
an
Mortgage Serial Bonds secured
upon
modern Steel Steamships
enviable reputation in the investment market.
been unable to discover
are a
a
After
a
single instance of default in interest
most
or
on
the Great Lakes enjoy
searching investigation,
principal in such issues.
we
have
Such bonds
legal investment for Michigan Savings Banks and yield 5%.
INDUSTRIAL BONDS
Secured upon such staple natural resources
increasing in value, and which
^protection
are so
of principal and interest.
developed
large, and the
Timber, Coal and Iron Ore Lands, which
as
to have ample income-producing capacity for the
The
margin of security in such bonds is invariably
bonded debt is always payable in substantial annual
or
"
9
steadily
are
Also the bonds of well-known manufacturing corporations having
dong-established and successful histories.
is-
as
increasing the value and safety of the investment from
very
semi-annual amounts, thereby
'
year
to year.
These bonds net from 5 to 6%.
SEND FOR DESCRIPTIVE CIRCULARS
NOTICE
We
are
in the market for entire issues of bonds of the character indicated above.
!cordially invited, and will receive
our
Offerings
prompt attention.
m:
i
are
CLEARINGS—FOR
JUNE, SINCE JANUARY 1, AND FOR WEEKENDING JULY a.
June.
New York
Rochester
Scranton
Syracuse
Trenton
Wheeling
Reading
Wilmington
*
Wilkes-Barre
Harrisburg
Greensburg
York
Erie
Chester
Altoona
$
%
2,682,411
2,054,000
Binghamton
Franklin
Frederick
2,071,800
1.298.543
1,072,915
9,612,093.073
.
Total Middle
Boston
Providence
9,111,703.304
573,932,026
199,433,620
119,359.395
38,779,327
28,774,854
26,590.853
19,274,089
10,769,030
9,330,389
7,414,645
7,558,463
6,322,788
6,362.683
5,774,916
5,125.240
3,110,371
3,921,220
3,115,647
2,348,919
1,822,629
1,765,300
1,176,025
1,098,945
10,194,864.678
634,921,703
Springfield
Portland
Worcester
Fall River.
New Bedford
...i
Lowell
Total New
739.432,566
England
Chicago
1,182,174.124
101,001,550
83,603,946
79,384,274
53,625,749
39,090,433
25.567.200
18,676,298
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis
Columbus
Toledo
Peoria
Grand Rapids
12,050.906
10,914,036
10,318.549
8.999,341
Dayton
Evansville
Kalamazoo
Fort Wayne
5,752,680
4.241,762
4,545,424
4,715.447
5,000,000
3,513,220
2.951.078
4,715,841
2,424,617
2,000.413
2,565,348
2.195.420
2.547.909
1,710,125
1.736,215
2,228.412
1,090,362
Springfield. Ill
Youngstown
Akron
Rockford
Lexington
Canton..
._
South Bend
Decatur
Quincy...
Springfield, O
Bloomington
Mansfield
Danville
Jackson
Jacksonville, IU
Ann Arbor
Adrian
Lima
806,667
144,947
Spokane
Portland
City..
Sacramento
San Diego
Stockton
.
I
....
Topeka
Davenport
4.251,897.417
202,576,500 1
113,751,525
72,655,183
58,764,275
47,791,214
58.316.979
29,224,547
28,774,188
14.560,599
12,492.004
+ 20.8
+33.5
+3.4
+ 6.3
+ 3.4
+ 4.3
55,199,352,696
+ 8.9
4,173,667,044
+ 1.9
+ 9.5
+ 23.0
+ 4.3
+ 11.1
+ 15.0
+ 40.2
—1.2
+ 27.7
185.762,500
92,557,695
69,684,025
53,179,447
41,550,977
41.607,505
29,586,455
22,540,753
12,506,381
12,011,047
—2.1
4,890.804,431
4,734,653.829
+ 3.3
191.413,122
6,778,818.494
+ 5.2
71,887,119
62.873.947
48,704,816
35,005,089
25,087.600
16.844.422
11,069,197
10.601.902
9,131,850
7,860.378
+ 16.3
+ 26.3
+ 10.1
+ 11.7
+ 1.9
+ 10.9
+ 8.9
+ 2.9
+ 13.0
+ 14.5
+ 8.3
+ 5.7
+ 7.5
+ 12.3
+ 44.5
+ 14.1
7,130.326,001
632,903,200
486,774,426
286,146,608
23,515,950
20,254,407
19,307.880
13,219,921
*
5,309,340
4,014,138
4,229,708
4,198,819
3,460,000
3,080.813
3,094.859
3,142,807
2,340,602
1,946,916
2,267.656
459,865,407
323.547,794
229,061,248
156,009,200
112,563,211
77.602,723
68,206,144
56,295,190
56,101,099
35,395,646
26,515.082
26.962.S03
27,153,256
24,436,800
21,103,296
22,555,824
25,504,381
13,468,178
12,783,363
17,431,788
13.485,S45
—4.6
2,033.778
17,483,178
+ 8.2
+ 13.8
+38.2
+0.1
—0.9
+ 3.1
+ 8.8
+ 8.4
10.419.279
12,582,461
11.586,483
8,216,074
5,017,273
893,368
8,492,051
15.484.535
+ 2.8
+ 13.1
+ 8.0
2,046,446
1,580,167
1,525,592
1,612,145
1,088,745
813,737
140.651
673,361.200
399,983,346
351.979.951
288.543,577
201,622,337
145,136,000
100,623,623
72,242,488
59.283.797
48.139.797
49,803,541
30,051,562
23,059,084
25,326,296
21,535,038
17,936,696
16,991,843
19,188,237
11,555,711
10,676,186
14,600,910
12,698,861
13,919,130
9,022,137
9,379,073
8,820,551
7,451,378
4,303,327
698,561
7,297,846
13,180,166
+ 50.1
+ 3.6
+ 24.5
+ 19.3
+3.2
+33.7
+ 40.3
—6.5
—7.7
+ 50.9
—22.6
+ 16.3
+30.8
+ 9.1
+ 43.9
+ 10.2
+ 23.6
+ 14.6
Not Included In total
3,678,150
+ 7.0
'
465.948,849
401,414,997
+ 16.1
201,942,467
180,986,337
75,075,111
62,146.927
40,447,790
40,129,930
23,291,935
14,800,645
+ 11.6
+ 13.6
+ 9.2
+ 24.5
—0.1
+ 18.1
+ 15.7
+ 8.6
+ 19.5
+ 17.7
+ 2.6
4.977,627
3.542,434
3,788,727
3,988,408
2.509.529
1,485,000
724.068
Hastings
555.38t,ays
12,470,172
12,040,477
10,269,932
5.272,205
5,161.271
5,902,396
4,604,230
2,926,717
2,959,225
2,627,735
2,342,751
1,491,610
Not Included
+ 28.3
+ 23.1
+ 8.1
+ 21.0
+ 28.0
+ 51.8
+7.1
—0.4
in total
492,906,919
+ 12.7
752,731,843
658,531,960
13,810,070,581 14,155,364,270
Outside New York. 5,446,749,439
5,043,660,966
+ 10.2
—2.4
paere
73
2.650,842.219 2.483,111,983
—0.4
—12.2
16,924,935
•
—6.0
+ 21.7
+30.7
+ 12.1
+ 13.6
+ 7.5
+ 11.9
+ 7.4
+ 15.1
+ 16.9
+ 12.6
+ 17.8
+ 15.0
+ 6.5
+ 26.1
+36.2
+ 20.7
+ 32.7
+ 32.9
+16.G
+ 19.7
+ 19.4
+ 6.2
+ 21.6
+ 15.5
+34.1
+31.4
+ 10.3
+ 16.6
+ 27.9
+ 16.4
+ 16.5
+ 22.1
+ 25.3
+ 18.4
+35.4
+39.5
+ 8.8
+ 6.4
+62.8
—0.2
7,268,760
2,320,138,083 2,206.216,395
181,140,803
143,255,616
57,898,232
54,239,017
43,279,659
32,307,430
9,014,169
9,199,468
7.268.470
6,948,753
5.990.674
6,937,273
5.481.675
4,400,000
3,199,000
3,062,867
2,577,116
2,592,820
1,621,542
1,607,235
2,060,763
1,664,784
2,021,568
1,656,505
1,489,161
1,517,557
1,415.305
1,463,208
1,556,025
1,466,025
776.382
1,047,638
1,124,770
1,012,168
823,884
863,457
693.826
528,902
481,337
424.265
503,800
425,100
292,000
280,500
1.186,719,823
115,048,850
919,197,649
324,407,995
254.521,886
S9.301.669
179,058,535
127,329,355
156,322,260
46,119,879
22,537,450
23.715,358
25,838,132
11,784,227
12,278,581
11.004,872
9,121,415
4,456,647
6,619,031
$
489.924
1.122,377.694
406,601,440
12,086,109
5,411,153
S
+ 4.0
+ 7.2
85,317,320
67,862,313
50,337,368
40,081,963
27.500,000
17,122,811
13,540,378
14,392,188
1909.
+ 16.4
9,464,713.922
5.564,899
2,607,990
2.798.452
2,165,000
2,093,176
869,962
3,592,813
3,935.268
1910.
163,266,900
9,715,800
5,006,052
3,233,700
2,275,372
2,235,454
2,536,527
1,043,991
986,458
622,944
10,145,668,367
Sioux Falls
Pueblo
Fremont
+ 8.0
Table Clearings by Telegraph and Canadian Ctearin»
;
+ 1.9
Fargo
«3T
60.136,497.214
+3.7
+ 2.6
—2.9
+ 19.6
Lincoln
Cedar Rapids
Colorado Springs
Total other West..
Details of Southern on
Total Southern....
Total all...
—2.4
34,012,544
30,869,869
30,341,658
13,413,565
21,624,015
17,081,944
12.145.169
9,764,221
11,546,300
6,492,871
6.532,340
159.677.993
57,877,950
47,964,188
15,611,615
30,043,843
25,981,256
30,230,069
8,248,002
4.521,681
4,581,168
4,247.072
2,390,739
1.944,579
1,964,333
1.693.431
758,928
Boise
Omaha
+ 17.3
+ 10.4
36,883.174
ft..
+ 19.6
+ 19.1
+ 11.1
+ 12.6
+ 14.3
+ 8.9
+ 11.2
+ 11.1
+ 15.4
+ 5.6
+ 18.7
+ 12.6
+ 18.0
+ 14.4
+ 7.8
+ 7.9
+ 15.3
+ 29.0
+ 21.2
+ 13.8
1.652,622,232
Billings
Pasadena..__
Minneapolis
—16.4
+ 8.8
+ 21 4
+ 14.2
+ 12.7
49,081,525,212
3,283,083,603
1,096,166,969
696,559,725
220.744,836
163.764,301
137,485,499
96,573,581
62,656,180
52,455,149
38,462,941
39,167,030
190.890,323
09,068,929
49.487,219
20,867.102
42,146.018
24.2S2.160
27.898,541
12,447.409
3,497,839
,5,328,562
....
Kansas City
J
1,684,482,852
Fresno
San Jose
North Yakima
Total Pacific
S
1,342,790
2,517.500
Lansing
Total Middle West.
$
773,856,406
248,483,147
187,162,076
149.683,972
107.362,341
69.596,026
60,512,065
40,635.401
46,474,287
41,529,664 j
40,142,649
35,319,813
32,703,757
14,471.047
24,939,143
22,038,095
14,720.932
11,115,659
11,974.193
6,662,923
6,348,497
+ 97
+ 11.6
+ 4.6
+ 2.1
+ 13.8
+ 5.7
+ 8.1
+ 7.3
—3.8
+ 4.5
+ 16.4
+ 2.6
+ 7.2
1909.
52,959,352.496
3,925,512,549
1,305,900.076
—1.3
—5.7
1910.
Week ending July 2.
Inc. or
Dec.
1,460.938
2,729,621
Saginaw
San Francisco
Los Angeles.
Seattle
n
—8.2
+ 18.6
+ 15.6
+ 10.4
+6.7
+ 16.2
+ 3.0
659,987.405
30.375,700
15,510.367
12,400.876
9.122,232
6,906.482
7,467.394
4,701,666
4,096.603
2,306,866
2.147.893
755.023.484
31,756,660
18,095,221
12,725,421
9.775,156
8,345,298
9,969,490
4,861,183
4,356.793
2,385,779
2,239,922
Hartford
New Haven
st. Paul
Denver
St. Joseph
Des Moines
Sioux City
Duluth*
Wichita
S
41,389,652
33,428,563
27.399,065
19,022,464
11,812,142
10,409,421
7,757,526
7,719.977
7,197,023
6,723,068
6,242,9S9
5,500,000
2,599,200
4,266,903
3,781,151
Washington
Albany
Tacoma
Salt Lake
Oakland
Helena
1909.
131,778,434
Baltimore
Buffalo
Holyoke
1910.
Inc. or
Dec.
8,364,321,112
6S0.yiQ.100
230.648,614
Philadelphia
Pittsburgh.
Six Months.
c.
Clearings at—
301,464,928
120,897.381
249,811,723
138,503,979
166,281,487
75,095,098
22,487,797
31,553,852
33.138,539
14,177,791
17.487,172
12,147,204
11,844,268
4,935,908
22,584,895
20.666,857
2,749.473.118
1,294,513,985
526,882,472
428,406,928
279,258,331
242,893,252
184.390,423
110.775,299
80,084,477
84.647,412
72,101,266
33,638,839
40,485,606
42,044,027
35.181.688
19,023,563
22.674,030
23,832.480
15.402.688
9,827.564
3.704.195
3,461.416,918
4,865,681,356
86.249,541.404
33,290,188.908
on
P«*e 73.
+33.1
+ 28.3
+ 20.3
+ 42.4
+ 10.4
+ 29.9
+ 10.8
Not Included In total
15,757,463 +31.2
9,415,583
7,086,400
3,714,731
2,506,403
2.499,149
2,415,877
2,168,062
1,180,908
1,160,358
725,538
998,616
.
796,000
721,846
751,911
1,000,000
576,054
580.581
587.690
568,055
542,372
380,112
349,015
4.50,000
257,146
223,161
24,952
379,979
475,000
495,456
404,980,265
174,228,455
7,898,300
5,744.870
3,609,574
1,950,000
1,933,422
1,963,103
1,197,079
897.174
605,428
551,290
200,578.695
Inc. or
Dec.
1908.
1907.
%
s.
$
+ 5.2 1,356,536,246 1,770,759,877
+ 26.4
107,460,804
159,687,898
+ 6.7
37,972,749
56,851,841
+ 34.0
28.280,512
30,553,801
—2.0
9,336,552
8,926,859
+ 4.6
4,766,174
6,449,380
—13.6
+ 24.6
5,214,458
+ 4.4
2,795.855
1,826,543
3,989,611
—0.6
+0.9
+ 23.8
+ 22.0
1,205,261
1,426,004
1,191,193
1,206,349
1,326,147
1,259,290
—1.8
—3.3
+ 5.7
—25.5
+ 11.1
—4.6
510,000
773,785
664,775
472,791
330,060
559,100
255,000
+31.2
+ 13.5
+ 18.5
+ 4.1
+ 6.8
7,002,460
5,422,462
2,800,290
2,663,776
992.985
1,609,849
1,777,783
1,323.971
1,000,000
500.000
778,860
859.960
602,700
271,974
1.569,359,259 2,060,836.726
—6.3
141,930,647
6,020,800
3,787,534
3,060,657
1,765,487
1,840,152
1,332,956
1,021,997
—4.6
162,344,085
170.017,741
7,856,000
4,755.381
3,459,145
2,436,945
2,199,761
1.752,405
1,197,504
691,424
636,754
485,611
195,488.671
286,937.718
—0.3
28,369,350 —17.0
17,567,996 + 15.3
15,937.583 +21.1
12,529.041
+ 5.5
8,549,431 + 10.1
5,955,500 + 19.0
4,052,127
—8.3
2,351,623
+ 6.6
2,401.510
+ 4.1
2.102,869 + 14.9
1,751,873 + 23.8
989,214 + 19.4
1,067,266
+ 8.7
900,486 —19.4
238,047,868
21,073,350
16,005,119
249.484,164
29,208,150
23,057.215
+ 23.0
—12.8
—10.4
+ 16.7
+ 15.6
+ 29.2
—12.9
+ 9.9
+ 2.9
679,092
492,718
412,445
—11.1
11,602,312
9,068,268
7,182,065
4,670,700
2,982,071
1,793,652
1,849.480
1,723,046
1,505,095
994,778
824,807
800,479
651,549
430,000
509,284
574,054
414,225
385,014
313,020
425,000
400,000
475,799
339,927
284,380
255,000
•
885,180 + 12.8
695,000 + 14.5
598,776 + 20.6
740,446 + 15.6
600,000 + 66.7
450,568 + 27.8
413,155 + 40.5
510,000 + 15.2
553.598
+ 2.6
457,462 + 18.6
289,139 +31.5
387,637 —10.0
323,890 +38.9
273,028
—5.9
210,659
+ 5.5
46,459 —46.1
358,212
+ 6.1
450,000
+ 5.5
Not Included In total
13,190,011
10.543,113
8,092,747
6,253,200
4,365,129
2,565.966
2,345,164
2,183.749
1,907,230
935,672
857,954
710,700
838,912
755,000
536,962
612.392
568,278
768,101
365,103
468,356
606,880
515,304
318,096
187,775
134,167
14,547
300,000
249,600
278,137
186,238
15,000
350.000
+ 1.3
326,211,891
363.132,923
49,197,956
42,669,757 + 15.3
15,569.757
14,617.080
+6.5
10,976,389
12,105,560
—9.3
4,513,228
3,224,108 + 40.0
9,206.270
6.837,042 +34.6
6,065,927
6,279,330
—3.4
5,823,405
6,088,383
—4.4
2,976,101
2,326,198 + 27.9
821.688
934.109 —12.0
1,108,679
1,069,542
+3.7
1,150,000
934,000 + 23.1
580,000
535,178
+ 8.4
604,347
430.109 + 40.5
465,000
412,000 + 12.9
445,000
370,757 + 20.0
235,000
206,362 + 13.9
888,929 Not Included In total
32,351,551
39,596,481
11.245,633
•
399,706,796
.
9,120,815
8,096,054
2.569,458
4,616,202
3,726,686
4,311,336
1,401,172
847,183
699,993
550,000
393,458
399,347
356,000
203.177
9,518.492
2,881,600
6,810,812
4,591,033
6.429,810
2,549,353
1,072,692
490,728
139,201
2,232,753.373
+ 23.2
109,738,747
98,039,515
+ 11.9
69,781,623
85,176,684
1,122,758,038
425,093.529
361,218,109
228.167,799
226,627,888
156.058,952
91.785.803
67.627.485
24,040,477
55,953,795
33.493.804
32,947,099
37,520,927
27,040,315
17,586,413
16,643,655
15,692,935
13,816.289
+ 15.3
+ 23.9
+ 18.6
+ 22.4
+ 7.3
+ 18.2
+ 20.7
+ 18.4
43,542,228
38,844,765
16,592,552
14,265,568
8,793,424
9,517,402
5,086,647
3.315.298
2,530,353
2,573,000
2,047.117
1,345,618
1.443,327
1,289,948
1,266,224
715,000
+ 12.1
+ 17.8
+ 4.6
+ 42.6
25,365,740
25,757,299
25,959,104
9,200.591
Not Included
+ 28.9
+0.4
+ 22.9
+ 12.1
+ 30.1
+ 8.2
+36.2
+ 51.9
+ 11.5
+ 6.8
In total
19,550,443
14,921,718
12,544,952
8,902,019
6,000,000
3,478,489
2,671,623
3,125,545
2,457,476
1,127,836
1,623,860
1,643,952
1,000,000
890,000
725,595
701,583
526,939
300,000
586,643
600,000
568,279
330,500
—6.5
+ 18.0
+4.9
+ 5.6
+ 21.5
+ 20.0
15,970,250
8,963,641
9.786.354
8,372,992
4,161,970
2,942,160
1,695,798
1.334.355
1,002,742
9,840,240
9,125,338
7,577,441
4.925.507
3,302,769
2,053,927
—7.3
—9.2
1,000,000
694,748
650,000
459,687
500,000
425,137
300,406
1,055,000
1,008,426
947.700
1,110,210
742,294
614,642
491,510
412,000
432,809
248,860
84,427,203
95,605,076
—16.2
+ 12.5
+ 27.5
—21.0
+ 11.9
+ 23.7
+ 16.9
801,423
2,939,033.426
+ 17.8
125,644,258
111,711,675
+ 12.5
4,220,024,966
78.790,532,212
29,709,006,700
+ 15.3
+ 9.5
178,587,733
157,512,828
+ 13.4
122,056.604
145,965,918
+ 6.1 2,334,180,665 2,946,105,994
+ 7.8
977,644,419 1,175,446.117
+ 12.1
3,661,206,344 3,450,661,492
1,341,068.261 1,244,445,097
* Not Included In total lor month mi 6 months;
comparison Incomplete
THE CHRONICLE
60
section
CHRONICLE INDEX.
“Chronicle”—which
volume ended with the issue of June 25—is mailed
The index to Volume 90 of the
practice for the past
the index is| issued as a separate pamphlet
with this issue.
<
As has been the
four years,
for convenience in
binding.
THE FINANCIAL SITUATION.
The arguments in favor of higher rates on
States railroads are steadily multiplying, and
United
of
[VOL.
the
LXXXXI.
The announcement with
regard to the matter came on Tuesday—after the
Independence Day holiday. The investing public is
prone to take a gloomy view just now, and therefore
emphasis has been laid merely on the increase itself.
Its significance in other respects has been ignored.
The news of this increase in wages was one of the
factors, along with a number of others (chief among
which was the death of Chief Justice Fuller), which
contributed so powerfully to depress values on the
Stock Exchange on Tuesday and Wednesday of the
present week.
Of course the increase itself is import¬
ant, and it will involve an encroachment on net
revenues unless gross revenues can be enlarged.
The
very fact, however, that the compensation of railroad
employees is being so radically and widely increased
affords assurance, it seems to us, that no obstacles
will be interposed to attempts to supply the where¬
withal to meet the extra expenses.
There is another
aspect in which the matter is gratifying—we mean
the fact that through the increase a settlement between
the roads and their employees has been reached, and,
as in other similar cases, a strike averted.
The section of country which wras this time the
subject of controversy was the South, and a rupture
country.
it does
not seem possible that the Inter-State Commerce
Commission will, in the long run, withhold its assent
to general advances notwithstanding its action to the
contrary in special ca ses. In the matter of commuta¬
tion rates on the roads running out of New York,
everyone looks for a speedy decision and expects a
verdict in favor of the roads, since the case of the
commuters is such an utterly hopeless one.
The
Commission, it will be remembered, asked that the con¬
templated advances be deferred for only about thirty
days, or until Aug. 1, so a determination will come
the present month. In the case of the increases in
freight rates there will probably be a greater delay,
but here, too, the ultimate outcome, to our mind, is
not doubtful.
We speak thus confidently because the of relations between the men and the roads more than
Commission has been a party to many of the proceed¬ once seemed imminent during the last two or there
ings which have resulted in raising operating cost. weeks. Such an outcome has now been escaped, and
Obviously, the m embers of the Commission could in that there is sincere reason for rejoicing. Thirteen
not in such a conspicuous and noteworthy way act Southern roads were involved and 10,000 conductors,
to increase the annual outlays of the railroads and brakemen and flagmen, traveling baggage masters,
then refuse to aliow the railroads to recoup themselves &c., were affected.
According to the accounts in
through slightly higher transportation charges for a the Southern papers, the outcome of the adjustment is
that “in every instance and on every line of the
part, at least, of the extra expense.
The most important element in the present great in- thirteen roads involved the labor conditions of the
men by the terms of the agreement will be materially
c rease in operating cost is the higher wage schedules
which the railroads have been forced to grant in order improved.” The mediators were Martin A. Knapp,
to avert strikes.
As has many times been pointed of the Inter-State Commerce Commission and Charles
,
columns, these advances will, it is esti¬ P. Neill, Commissioner of Labor. The agreement
mated, swell the pay-rolls of the railroads somewhere was reached late last Saturday, and it is stated that
between $100,000,000 and $150,000,000 per year. until within a day or twTo of that time scarcely any
out in these
Some of these advances have been made
as
a
result
of the direct intervention of the Inter-State Commerce
likelihood
appeared of
While mediation
wras
a
satisfactory adjustment.
under way the various labor
organizations concerned in the controversy took a
on the proposal and a strike was ordered by
employees demanded higher compensation and railroad
officials felt that they could not accede to the demands, a large majority of the men unless the roads should
and a strike was threatened, the Chairman of the accede to the demands made. The officials of the
Inter-State Commerce Commission, in conjunction roads urged that the roads were in no condition to
with the Commissioner of Labor, have acted as medi¬ pay higher wages, insamuch as Southern roads have
ators under the Erdman law to bring about a settle¬ made no advances in freight rates.
But this argument
ment of differences.
Some other members of the was of no avail.
The representatives of the labor
Commission have acted in a similar capacity. In organizations insisted that wages in the Southeast
every case, too, where services were thus proffered must be “standardized”—that is that they must be
and accepted, the
outcome has been some
in¬ made to approximate the wages paid for similar
crease
in the wage schedules. These Government employment in other parts of the country.
On the
other
agents in awarding increases may have acted as
hand, the officials felt that to allow a strike
a matter of policy, but the fact that they were a
to
occur
would mean great inconvenience to the
party
to the proceeding remains, and it is utterly inconceiv¬ traveling and shipping public and would also involve
able that they should by their acts contribute to serious financial losses to the companies. Such a
swell the expense accounts of the roads and at the same result has fortunately been averted.
time refuse permission to find a new source of income,
Of course, “standardizing” of wages in the South is
through improved rates, to provide for the new outlay. to be accomplished at the expense of the roads, but
that very circumstance will force the Commission to
This very week the Chairman of the Inter-State allow increases in rates, though Southern roads have
Commerce Commission has participated in a proceeding not thus far made any request of that kind. The ad¬
which will mean a large and general increase in the vances in wages are to be made in two installments.
pay of the employees of the railroads in an important The first will date from July 1 and the other will go
Commission.
In not
a
few instances where railroad
vote
July 9 1910. j
into effect
THE CHRONICLE
April 1 of next year. Conductors of
passenger trains who now get $2 20 for every 100-mile
run will get $2 50 at once and next
April will get $2 75.
This, it will be observed, is an increase altogether of
55 cents per 100 miles, or exactly 25%.
Traveling
baggage-masters are to be raised from $1 10 to $1 35
and later to $1 55.
The aggregate increase here is
over 40%.
Passenger flagmen and brakemen are to
on
be advanced first from $1 to $1 32 and later to SI 50.
Here the aggregate increase is 50 cents, or 50%.
Conductors of
through freight trains
are to
from S3 18 to S3 55 and then to S3 75.
and
flagmen
be raised
Brakemen
through freight trains go up first from
SI 75 to $2 35 and then to $2 50, the aggregate increase
being over 40%. The advances are of such magnitude
that it is not surprising they should have produced a
sort of scare; but their significance lies in the fact that
they will pave the way for higher rates with the consent
on
of the Commission.
of the country
And the situation in other parts
is the same, except that the higher
wrage schedules have in most cases already gone into
The Commission cannot deny permission to
effect.
put up rates while some of its members are engaged in
proceedings for raising wages. The only point for
doubt seems to be as to the date when permission will
be definitely given.
While
compared wth other roads.
61
In other words, employees
of the Baltimore & Ohio and New York Central had
their wages raised so as to bring them nearer the
Pennsylvania standard, and now the Pennsylvania
employees insist that their own wages shall be advanced
sufficiently to maintain the old difference.
The company puts this question to the employees:
“Is it fair to penalize your company now, because in
the past it has treated its employees as liberally as its
finances would permit, regardless of wages paid by its
competitors; and further, because in this instance it
has more than met the advances of the other roads,
whose employees, although generally still below those
of the Pennsylvania RR., were brought up more
nearly
to a parity with the favorable conditions of
your
company”? This question carries its own answer, and
whatever may be the result of the vote of the Pennsyl¬
vania employees on the strike proposition,
Pennsyl¬
vania officials deserve credit for having taken such a
decided stand in the matter. The time, too, is oppor¬
tune for calling a halt on reckless and indiscrimin¬
ate attempts to push up wages, especially when condi¬
tions are clearly unfavorable to such a move.
It
might be wise for railroad officials to go a step further
and make future advances in wages contingent
entirely
upon the assent of the Inter-State Commerce Commis¬
sion to increases in rates proportioned to meet the
extra outlay.
believing, however, that consent will unques¬
tionably be obtained for increases in rates, we think
the time has arrived for the exercise of sharp discrimi¬
The iron and steel trade is now in a condition of
nation in making further advances in wages.
Where quietude, wth prices receding, but that is a natural,
a substantial raise has
already been granted, both normal condition under present circumstances. There
railroad officials and the Inter-State Commerce Com¬ was
undoubtedly some over-production in the early
mission should resolutely resist attempts at additional
part of the year, while demand at present is curtailed
advances at this time.
We say this not alone in the by reason of the uncertain outlook for the railroads.
interest of the railroads, but in the interest of the Production is now
being reduced and the restriction
traveling and shipping public which will eventually will apply a proper corrective. Later on, when it
have to foot the bills. These remarks are suggested shall
appear that the railroads will be allowed to raise
by the fact that at this very moment the train hands their rates to correspond with the higher operating
on the great
Pennsylvania RR. system are voting on cost, demand will quickly revive, we maybe sure. No
a proposition to
inaugurate a strike should the com¬ doubt the action of the Chicago Milwaukee & St. Paul
pany refuse to grant some further increase in wages Co. on Thursday in maintaining its old 7% rate of
on top of an increase
granted only a few months ago. distribution, and the action of the Atchison manage¬
The company has sent out a circular to the employees ment yesterday in
keeping up the 6% rate of dividends,
defining its position and attitude. In this it has will tend to strengthen confidence. In June the make
made a wise move, for if the employees should be
fool¬ of pig iron, according to the figures compiled by
ish enough to vote in favor of a strike and indulge the the “Iron Age” was 2,265,478 tons, which
compares
desire to that effect, the public will know that the with 2,390,180 tons in
May, 2,483,763 tons in April
blame does not lie with the railroad.
and 2,617,949 tons in March.
On July 1st 269 fur¬
In the circular referred to it is pointed out that, naces were in blast,
against 280 furnaces on June 1,
following awards by Messrs. Knapp and Neill (respec¬ and the daily capacity was about 3,100 tons a day less
tively Commerce Commissioner and Labor Commis¬ than in June. The “Age” says a number of furnaces
sioner) in the case of the Baltimore & Ohio, awards by the have gone out in the last few days, so that the curtail¬
same mediators in the case of the
Chicago Switching ment may now be reckoned at 15% from the high
District, and by E. E. Clark, Inter-State Commerce point in February. It is stated, too, that the move¬
Commissioner, and P. H. Morrisey, President of the ment will be carried further, as preparations are being
Railway Employees’ Association, the Pennsylvania made for the blowing out of other furnaces.
put into effect a horizontal increase in wages of 6%
and made such subsequent
The official report on the grain crops of the
adjustment of wages in
country
road and yard service as would give
for
employees
the
the
July 1, issued by the Department of Agriculture
benefit of the highest award. The employees’ com¬ yesterday
afternoon, reflects the adverse conditions
mittee admits that the
Pennsylvania RR. to-day pays that prevailed during June in a number of the leading
as high as* or
higher wages ]than, any of its competi¬ States. Drought over a considerable portion of the
tors, but 'insists th^t the company should pay from spring-wheat area west of the Mississippi, together with5 to 20% more than is
paid; by other companies for extremely high temperature, naturally worked some de¬
similar service, since Pennsylvania employees have terioration. It is safe to
assume, however, taking the
become accustomed to this degree of preference
as experience of previous years as a guide, that the pres-
THE CHRONICLE
62
JVOL. LXXXXI.
damage done is exaggerated, engaged wTith the rate at 4 85% the conclusion at
especially as in some of the districts affected by once formed was that the shippers had arranged a
drought there has been relief since the report was “special” transaction, although the importers did not
confirm this view.
It sometimes happens that gold is
issued.
This July 1 report furnishes the initial data for the imported or exported without immediate profit for
sentimental reasons, particularly in reference to stock
season concerning corn—our largest grain crop—of
which a record planting is indicated, the area for the market movements, and foreign exchange operators
whole United States being estimated at 114,083,000 think the present may have been an instance of this
kind.
At all events, no other engagements of gold
acres, against 109,066,000 acres in 1909, or a gain of
4%. Furthermore, the condition of the crop is above for importation have been announced. Furthermore,
the average of recent years, being reported for July 1 no very broad movement is looked for just yet, al¬
as 85.4.
This compares with 89.3 on the same date though later on the imports are expected to be fairly
last year, but with 82.8 in 1908, 80.2 in 1907 and a extensive if the international money markets do not
10-year mean of 85.1. Making due allowance for the undergo material change. London signalized Thurs¬
increase in area referred to, the present outlook with day’s engagement by instantly marking up discounts
normal weather hereafter is for a yield in excess of the to 2%%, as compared with a recent minimum of 1%%
and a maximum of 2% earlier in the current week,
2,772 million-bushel outturn of 1909.
The wheat situation is not so satisfactory, at least while the Governors of the Bank of England refrained
as far as spring wheat is concerned.
In the case of from lowering the official discount rate in spite of a
winter wheat, however, there has been improvement rise in the proportion of reserve to liabilities from
during the month. The general average for winter 42.77% in the previous week to 46.40% this week.
wheat is stated at 81.5, as compared with only 80 on Advices from London as well as from Paris indicated
June 1 and comparing with 82.4 on July 1 last year, that New York’s action was construed as unwarranted
80.6 in 1908 and a 10-year meanof81.3.
Owingtothe by either trade or financial conditions, and suggestions
lateness of the harvest, much less of the crop has been were made that a premature outflow to this country
gathered to date than in a normal season. Returns would be resented and resisted. At all events, the
of the yield from scattered localities vary widely.
In higher charge levied for discounting bills and the
Missouii, for instance, according to the official State retention of the 3% Bank rate checked the movement .
report-, the prospect of yield per acre on July 1 was It may have been only a coincidence that on the same
considerably better than a month earlier; whereas day London sent a good many stocks back to this
reports from Nebraska indicate a short yield of rather market for sale. Here the engagement was followed
In the absence of any general returns by a recovery in demand sterling to 4 85% on Thursday
poor quality.
of yield, it is safest to use the Department’s acreage forenoon and the week’s minimum quotation (4 8540,
and July 1 condition figures as a basis for calculating recorded on Wednesday), has not since been repeated.
the probable aggregate crop of the country, which at The rate at the close last night was 4 8580, so that no
further transactions are at the moment feasible.
this date promises to be fully up to that of 1909.
Spring-wheat condition, according to the Depart¬
Local bankers, in discussing the monetary outlook
ment, stood at only 61.6 on July 1, a loss from June 1
of 31.2 points; the average is also 31.1 points lower for the second half of 1910, are beginning to lay stress
than on July 1 1909 and 25.5 points below the 10-year upon the possibility of a diminution in general trade,
States of largest production are reported activity. Some slackening in the industrial pace
average.
as showing abnormal deterioration during the month,
appears to be taking place in several important indus¬
tries, including iron and steel, copper and cotton and
as witness the drop from 93 on June 1 to 45 on July 1
in North Dakota, from 92 to 64 in South Dakota and woolen manufacturing, while speculation in land, the
93 to 68 in Washington.
In this crop there has been building of houses and the marketing of automobiles
an addition of 7.3% to area the present year.
Ad¬ have also undergone modifications. In view of their
vices since the date of the report indicate that rain recent unhappy experiences with governmental bodies
has brought some relief, and hence there is possibility and of the continued difficulty in selling bonds on a
reasonable basis, the railroads cannot be expected to
of improvement.
Oats condition is also lower than on June 1, the manifest unrestrained enthusiasm in entering upon
Department stating it at 82.2 on July 1, which con¬ avoidable expenditures for extensions, improvements
trasts with 88.3 on the same date in 1909, 85.7 in 1908 or equipment. Managers of large corporations are, in
and a 10-year average of 86.8. The outlook at present, fact, showing caution in spending money. Another
taking into account the increase in area (3.5%), is reason for not trying to force matters has been adduced
for a crop closely approximating last year’s record this week by certain financiers closely identified with
huge business organizations, namely the inadequate
production.
service rendered by labor for the high wages now
Thursday’s announcement of the engagement in being paid. This phase of the situation is exercising
London of $1,750,000 gold bars for shipment to New more concern than is publicly represented, for the
York was attended by developments abroad and at subject is one not calculated to enhance the popularity
home worthy of passing notice.
The state of the inter¬ of those who might openly discuss it. There is wide¬
national exchanges had not made a gold movement in¬ spread complaint that the cost of conducting business is
evitable, so that the news created some surprise on being unduly inflated, just as it was in 1906-07, by in¬
both sides of the Atlantic. Bankers here figured that efficient labor, by too meagre a return for each dollar
sterling would have to decline to the neighborhood paid in wages.
If appreciable trade reaction should come, bankers
of 4 85 for demand before an inflow could be inaugu¬
rated at even a small profit, so that when the metal was point out that the misfortune would not be without
ent
measure
of the
July 9
1910.)
THE CHRONICLE
compensatory features.
ness
would
mean
For
one
thing, quieter busi¬
contraction in the mercantile demand
63
Governor Fort of New
deciding not to call
a
for money during the crop-moving season,
fore less likelihood of stringency. Then it
Jersey has acted wisely in
special session. No emergency
and there¬ exists save that a few excited persons, angered at the
has repeat¬ action of the railroads in proposing an increase in
edly been demonstrated that the laying off of surplus commutation rates, have asked him to do so. A
employees acts as a tonic upon those retained, while, suggestive comment upon the height to which emotion
of course, arrogant demands for higher wages or shorter has
proceeded may be found in the simple fact that
hours are dropped.
Moreover, a general curtailment in newspapers are actually commending the Governor
activity, it is reasoned, would tend to correct the infla¬ for his courage and his display of sense. Is it indeed
tion that has not been entirely eradicated since the true that “in these
days it requires high courage for
feverish prosperity that preceded the breakdown a
public man to show that he has common sense?”
of 1907, and thus place the United States in a better If that is
true, is it not quite time for all of us to begin
position to compete with foreign nations in the world’s getting the glare out of our eyes and cooling ourselves
markets.
In view of all this, it will be readily believed back to a state in which
honesty, courage and sense
that the banking community is of the opinion that shall be so much the rule that an exhibition
of any
danger of strictly monetary complications need of these old-fashioned qualities will not attract atten¬
occasion no acute alarm.
Europe’s abundant sup¬ tion?
plies of cheap money, it should not be forgotten
However, it is timely—especially after a' special
be drawn upon whenever necessary, especially
lower prices mean an increased volume of mer¬
can
session in this
as
emergency—to be reminded that
chandise exports.
significance, it seems to us, was attached
by the stock market, then in a pessimistic mood, to
last Saturday’s bank statements. Admittedly, the
actual cash loss of $18,945,500 was more serious than
had been anticipated, and the shrinkage of $16,446,550
in actual surplus brought the reserves below the aver¬
age reported in the first week of July during recent
years; but on this occasion certain special circum¬
stances must be given consideration.
The actual
figures, which were much worse than the average for
the week, wrere compiled from the returns submitted
on the evening of
July 1, the day on which the halfyearly disbursements, always heavy, were made, so
that no opportunity was afforded the banks to receive
back any of the money they paid out in dividends and
interest on securities; had July 1 come in the middle of
the week, the position at the close of business on Fri¬
day would probably have been less unfavorable.
Then, it is important to note that the New York banks
last week (and this) paid over a large sum to the Gov¬
ernment in the form of the
Corporation Tax dues—
the total acknowledged to date by the Treasury De¬
partment is $23,811,679. The withdrawal of cash
by all classes of customers for use over the holidays
was also
very heavy on Friday, as Saturday was ob¬
served by many as a holiday; this item is of more con¬
sequence than is generally supposed, since the demand,
though for small individual sums, reaches a considera¬
ble aggregate. Now, all these causes of weakness
were of
purely temporary character. The half-yearly
disbursements will quickly gravitate back into bank¬
ing channels, and the Corporation Tax payments have
been virtually completed. Therefore, by the latter
part of July substantial improvement should be re¬
corded by the banks; indeed, to-day’s returns should
be better than those of a week ago, although the loss
to the Sub-Treasury has again been
quite heavy, as
is shown in our regular compilation covering the week’s
It may be here remarked that
currency movements.
the mild firmness manifested in call money last week
has subsided, renewals having been made on Thurs¬
day at the low charge of 23^%. It is thus evident
room
for alarm
position of the New York banks.
was
not
a
justified by any
special session is
solely for “an
Too much
that there is little
State, which
over
emergency which cannot be met at once
and cannot wait a regular session;” that is the obvious
test—whether the occasion is an unforeseen one and
cannot await
regular assembling.
Waiving for the moment the question whether the
increases
in
commutation
rates
were
financially
it is not easy to concur in Governor Fort’s
expressed opinion that the railroads “have acted
hastily.” Nobody will deny that the managers of the
roads believed themselves confronted
by a financia 1
emergency or necessity, consisting of serious advances
in their own expenses, occurring
without their free
necessary,
consent.
Let
us
do
them
and
ourselves
also the
justice of perceiving and admitting that these men are
holders of a great trust, both towards the universal
public who are interested in safety and efficiency of
operation and towards the hardly smaller public who
are
directly or indirectly interested in the financial
stability and value of these properties. We may
profitably remind ourselves again that increases in
wages were extorted, with indifference if not with
evidences of approval on part of the public, and that
these went into effect immediately, nobody rising to
suggest delay; on the other hand, when the roads
endeavor to stregthen themselves by a small increase in
fares upon the portion of traffic which has been most
favored, there is an outcry, and it is urged that there
should be several months’ delay more or less, so as
to investigate the whole subject
thoroughly and be
very sure that no mistake is made.
Why such caution
on one side, after such
quick action on the other?
And if the managers had dallied, instead of
seeking to
protect the trusts in their hands, what sort of con¬
demnation would they deserve?
Governor Fort, apparently seeking to satisfy both
sides, refuses to call the desired session, but says
he thinks the roads have been
hasty; yet “all must
concede that they are within their legal rights, if it is
shown that the increase is reasonable and
just.”
In his judgment, he adds, “this is a
judicial question
and should be determined on the proofs adduced in
evidence; it cannot be rightly settled by prejudice
nor by,what is even
worse,partisan political considera¬
tions.” Truly as to the last clause; yet, without
the present going into an argument about it, is not this a sug¬
gestive reminder of the distance to which public
opinion has gone towards the very recent notion that
THE CHRONICLE
64
public satisfactorily in all
respects and to pay something to its private owners if
Is the question in this particular
any funds remain?
^case so much a “judicial” as a plain arithmetical one?
There is a further, comment suggested quite sharply
by the quick rejoinder from persons representing the
so-called Commuters’ League, who say that Governor
Fort evades the chief thing demanded of the special
session, namely, “that the three-cent law be repealed
and rates established within the State.”
That is to
say, that rates to please the public be established by
law. Upon this, these indignant protestants say,
the fight is only just begun, for they intend to carry it
to the polls and to elect a pledged Legislature.
a
railroad is to
serve
the
[VOL. LXXXXI.
of the Inter-State Commerce Commission in
railroad rates in the
reducing
Western half of the United States
precipitated a selling movement and important de¬
clines, many leading stock issues scoring the lowest
values of the year.
At the New York Stock Exchange
stock transactions in June aggregated 16,292,870
shares and for the six months wrere 97,840,941 shares,
these contrasting w'ith 20,322,230 shares and 99,136,372 shares respectively in 1909.
In 1908 and 1907
the June dealings w'ere less than in the current year,
but in 1906 wxere larger.
Bond transactions wrere de¬
cidedly smaller in June this year than last, and for
the six months reached only 368 millions of dollars
against 725 millions.
Clearings returns for the Dominion of Canada make
Continued activity in our industrial and commercial a very satisfactory exhibit, wdth the percentages of
affairs is on the whole indicated by the returns of increase very heavy at Vancouver, Calgary, Winnipeg
bank clearings we publish to-day on the first page of and Victoria. The aggregate for the 13 cities for
this issue. The ccmpilation covers the month of which comparative figures are obtainable wras for June
June and the six months since Jan. 1, and showrs that $495,101,795, an increase of 14.1% over the corre¬
in general the volume of business has kept well in ex¬ sponding period of 1909, and for the six months the
cess of any earlier year.
At one or two leading points excess reaches 21.9%. Compared with 1908 the gains
the comparison with 1909 wxas for June less favorable are respectively 53.1% and 51.7%.
than in earlier months, but that is fully accounted for
Fluctuations in foreign discount rates this w'eek
by an important decrease in the volume of trading in
stocks and bonds at the Exchanges. On the other have been interesting. At most centres the customary
hand, at the South, notwithstanding the smaller cotton July relaxing has been in progress, but London, be¬
movement this year, the clearings at many cities record cause of a demand upon its stock of gold, has advanced
private discounts sharply, and no reduction has been
very large gains.
Whereas bills were accepted
For June this year the aggregate of clearings at the made in the Bank rate.
134 cities included in our statement is $13,810,070,581, last week at as low as 1%%, the minimum wxas raised
on Thursday to 2J^% for spot bills and to 2J4%
a loss of 2.4% from the month of 1909, although all
but 14 of the municipalities show\gains.
For the six (sometimes higher) for bills to arrive, which figures
months of 1910 there is an increase of 9.5% over the were again named yesterday. This protective step
like period of the preceding year.
Contrasted with was taken after Germany had successfully com¬
the low figures of 1908 the improvement for the month peted for part of the new gold offered on Monday,
is 40.2% and for the six months 42.6%, and compared paying therefor 77s. 9J^d. per ounce, and after New'
with 1907 a substantial augmentation in the totals is York had engaged $1,750,000 gold in London and
also to be reported.
At New York, the result wxholly made inquiries for other parcels. The weekly return
of lessened activity at the Stock Exchange, there is a of the Bank of England disclosed a loss of $4,560,000
decline from 1909 for the month of 8.2%; but for the bullion. The Continental exchanges w'ere also moving
six months there is a gain of 7.9%; and contrasted with against London earlier in the week, although since
1908 there are increases of 47.9% and 52% respectively. then the advance in discounts at the latter point has
Outside of this city the same generally favorable situ¬ brought relief. The presumption here is that money
ation we have noted for very many months past still in London will return to last week’s low level, provided
obtains.
Excluding New York, the total of clearings the competition for gold abates; $3,350,000 newx bars
records an increase, as compared with 1909, of 8% are due next Monday, and it will be interesting to
...
12.1% for the period since Jan. 1, wTith watch their sale in the open market.
Paris lowered its discount rate, wxhich last wreek
the gains 30% and 30.4%., respectively, contrasted
wuth 1908.
In the Middle States group of places (in¬ was 2)/2%, to 1J4% on
day that the advance was
The
Bank
of France issued its
cluding New York) there is a loss of R.7%, for the made at London.
month and a gain for the six months of 8.9% as com¬ weekly statement on Thursday, showing a decrease
pared with 1909, and in the New England group a in every account; but the loss in specie was light
decline of 2.1% tor the short period and an increase ($1,585,000) in comparison with the reduction in
of 3.3% since Jan. 1.
For the Middle-West the oain? liabilities; note circulation w'as contracted by $17,are 1.9% and 7.2%, respectively, and for the Pacific
170,000, general deposits fell $31,025,000, bills dis¬
Slope 16.1% and 23.2%. The total of the cities in counted decreased $56,810,000 and Treasury advances
the “Other Western” section records an excess in June w'ere pulled down $9,085,000.
A lull has taken place
of 12.7% and of 17.8% for the six months, and for the in the output of huge new loans in Paris, but the super¬
Southern cities the gains in the aggregate are 10.2% abundance of capital there may tempt underwriters
to again come forward with all sorts of applications.
and 15.3% respectively.
Stock and bond transactions were of larger volume At Berlin' the money market was helped by the engage¬
in June than in May, but noticeably less than in the ment of gold in Uondon; spot bills'are now quoted
month of 1909 and of some earlier years. In the first 2%% and bills1 td arrive ;3%. Amsterdam' continues
j j
j -]
,i •
.;
i r
:,
; •
ten days of June dealings in stocks were of fairly good on a very high level; 4he Bank rate still is 5%.,- while
volume, but later on trading wxas comparatively quiet the private charge is !43/£%. Brussels quotes 2%%
until the 29th and 30th.
On those days the action ! and the same figure prevails in Switzerland. The
for June and
(
r.
:
t
,
July 9 1910.
THE CHRONICLE
|
65
Thursday lowered it's rate from possible at the rates quoted last week. Few financial
institutions care to accept even the finest grade of bills
4% to 3%.
at 5%, since they can now obtain that figure as a rule
The Bank of England’s weekly statement was of a on collateral loans running for the same period.
A
mixed character.
The South African gold available good deal of business is done at 534% both for local
and out-of-town account.
The absorption from the
on Monday was largely purchased by Germany at a
farthing above the Mint price, whereas no competition country is only moderate, while temporarily the other
demands that have fallen upon the banks have mili¬
had been anticipated.
The Bank’s total reserve on
tated against commercial paper.
The range of quo¬
Thursday showed a shrinkage of $5,335,435, but as
tations is as follows: 5 to 534% for prime four to six
liabilities had been radically reduced, the ratio of
months’ single name bills and sixty to ninety days’
reserve rose from 42.77% last week to 46.40% this
endorsed bills receivable, with 5% to 6% for less
week.
Loans disclosed a curtailment of no less than
desirable names.
A little more activity is looked for
$34,490,000, while ordinary deposits fell $25,085,000 before the end of the month.
and public deposits $15,835,000.
According to our
A difference of 234% in the value of money here
special cable from London, the Bank of England lost
£912,100 bullion during the week ending Wednesday and in London goes far towards explaining the decline
night and held £41,484,251 at the close. Our corre¬ in foreign exchange rates to near the gold-import point.
spondent further advises us that the movement into Notwithstanding the engagement of $1,750,000 of the
the Bank was made up entirely of purchases in the pfecious metal in London this wTeek for shipment to
open market and imports from Rio de Janeiro.
Ship¬ New York, the market has not at any time been
ments to the interior of Great Britain were heavy. regarded as actually on the gold-import basis.
Some
Experts were inconsiderable, South Africa getting all mystery surrounds Thursday’s transaction, as experts
of the gold sent out. The details of the movement into cannot figure out how the importers could have earned
and out of the Bank were as follows: Imports, £413,- even the slenderest margin of profit
Since then there
000 (of which £51,000 from Rio de Janeiro and £362,- has been a decided recovery in quotations, sight drafts
000 bought in the open market); exports, £20,000 having sold yesterday at 4 85%, against a minimum
(wholly to South America), and shipments of £1,305,- earlier in the week of 4 8540. The market during the
current week has been well supplied with finance bills
000 net to the interior of Great Britain.
drawn by bankers of the highest standing who have
In the local money market there have been two excellent connections both in London and on the
distinctive movements this week; call money has Continent of Europe.
Offerings of commercial remit¬
tance
have
not, however, increased. It is worth
declined, while time rates have advanced. When
business was resumed after the holidays, bankers, noting that the appraised value of merchandise received
having studied the weekly bank statement, held out at this port for the fiscal year ended June 30 last was
for rather stiff rates.
Call money on Tuesday touched $961,962,392, which compares with $798,303,279 last
334 % and renewals were made at 3%, against a year, $719,733,636 in 1908 and $852,050,780 in
maximum of 2%% and an average of 234% on 1907, the previous high-water mark.
The Treasury’s
Wednesday and a ruling rate of only 2*4 % on the statement covering our foreign trade during June is
following day. Yesterday the range was 2@3%, awaited with keen interest in foreign exchange circles.
with most of the business done at 2%%. The average Payment for new securities placed abroad is being
quotation for the week has been 234%
The demand made month by month, so that from this source there
for six months’ loans is the feature of the current springs a goodly number of security bills which the
London purchased stocks im¬
money market; for these bankers are now insisting upon market has to absorb.
5%, against 4%% earlier in the week.
mediately after last week’s severe break, but this week
Trade conditions
International banking houses have been lenders for transactions have about balanced.
long periods, at least part of their resources having in Great Britain continue highly prosperous. For the
been obtained abroad through the issuance of long month of June the Board of Trade reports an increase
finance bills.
Seldom has it been possible to conduct of $14,624,000 in imports and of $25,408,000 in
such an operation with so much profit; discounts in exports, the former increase being mainly, in raw
Paris and in London have ruled about 2%, and after materials and the latter in manufactured goods, as
allowing 1% for charges, there is a clear profit of quite was to have been expected. For the six months ended
134% in lending the money here for six months. The June 30 British imports increased over the same period
drawing of these finance bills partly explains the break in a year ago no less than $165,000,000, while exports in¬
foreign exchange rates to new low levels for the year. creased even more—$180,000,000—this, too, in spite
There is little inquiry for accommodation maturing of the unsettlement produced by the political uncer¬
during 1910, so that the difference between the charge tainties and later by the King’s death.
for four months’ and six months’ facilities is very
The Bank of England is understood to be averse to
marked.
The detailed range is as follows:
Sixty losing any large amount of gold at this time. During the
days, 3V2%; ninety days, 334 to 334%;
four first half of the current week sterling, both at Paris and
months, 434%; five months, 434%, and six months, Berlin,moved against London, while, as already stated,
5%. The engagement of one consignment of gold in quotations here also declined. At that time the pri¬
London for shipment to this city had no influence upon vate discount rate in England was 2%, against 2J4@
the money market, although it was included among 2 3-16% yesterday
for spot bills and a higher charge for
the reasons adduced for a recovery in,the stock market. bills to arrive, indicating that stiffer money
rates are
Commercial paper, though not ; being drawn in anticipated. New gold tp the amount of $3,350,000
excessive volume, is tof Le found in rather large will arrive at Southampton
to-day and will be sold in
supply in the local market Discounting is. no longer London on Monday; competition may again arise from
Bank of Bombay on
>
.
.
,
.
THE CHRONICLE
66
[VOL.
LXXXXI.
the
Continent, although New York is unlikely to be a
TREASURY FINANCES FOR THE FISCAL YEAR.
exchange quotations decline appreciably.
While the Treasury debt and financial statements
No reduction in the Bank of England’s 3% rate is
for the end of the fiscal year on June 30 cannot be said
looked for immediately.
to denote an exactly flourishing state of Government
Compared with Friday of last week, sterling on finances, they do show much more satisfactory re¬
Saturday for demand was unchanged at 4 8575 @ sults than were deemed possible exen six months ago,
4 8580, cable transfers were a little firmer at 4 8605@ when the Secretary of the Treasury made his annual
4 8610 and sixty days declined to 4 84 @4 8410.
On report to Congress. Disregarding the expenditures
Tuesday demand broke to 4 8555 @4 8560, cable on account of the Panama Canal, and confining our¬
transfers to 4 8585 @4 8590 and sixty days to 4 8395 @ selves entirely to ordinary receipts and disbursements,
4 8405.
On Wednesday the range at the close was there is actually a considerable balance on the right
4 8370@4 8380 for sixty days, 4 8550@4 8560 for side of the account—that is, a surplus of receipts over
This surplus for the twelve months
demand and 4 8575@4 8585 for cable transfers, the disbursements.
although demand in the forenoon dipped to 4 8540. amounts to $14,951,519. What a gratifying change
On Thursday demand advanced to 4 8570@4 8575, this is from previous years will appear when we say
cable transfers to 4 8590@4 5895 and sixty days re¬ that in 1908-09 the revenues fell short of the dis¬
mained unchanged at 4 8370@4 8380.
On Friday bursements in the large sum of $58,734,954 and in
the upward tendency was again in evidence, demand 1907-08 the shortage was $20,041,667.
In the figures here given we disregard entirely the
selling as high as 4 8585, although the undertone was
outlays on account of the Panama Canal. The Gov¬
slightly easier at the close.
The following shows the daily posted rates for ernment returns show these separately, and obviously
they belong in a class by themselves, though of course
sterling exchange by some of the leading drawers.
bidder unless
in the absence of
Fri.,
July 1.
Brown
Bros. & Co
Kidder, Peabody & Co
Bank British
North America
Bank of
Montreal..
Canadian Bank
of Commerce
Heidelbach, Ickelhelmer &Co
Lazard
Freres
Merchants’ Bank
of Canada
.
f 60 day's 4
4
i Sight
J60 days 4
1 Sight.. 4
J60 days 4
,i Sight.. 4
/60 days 4
-1 Sight.. 4
J60 days 4
ISight.. 4
160 days 4
4
ISight
f 60 days 4
-ISight.. 4
f60 days 4
ISight.. 4
_
_
.
.
.
.
The market closed
85
87
85
87
85
87
85
87
85
87
85
HOLIDAY.
86^
85
86 H
85
86^
on
Mon.,
July 4.
Tues.,
July 5.
Wed.,
July 6.
84 y
86 H
84 y
86 y
84 y
86 y
85
87
85
87
84 y
86
84 y
86
84 H
86
84 y
86 H
84 y2
86 y
84 y2
86 y
85
87
84 y2
86 y
84 y
86
84 y
86
84 y
86
.
T/iurs., Fri.,
July 7. July 8.
84 y
86 y
84 y
86 y
84 y
86 y
85
87
84 y
86 y
84 y
86
84 y
86
84 y
86
84 y
86 y
84 y
86 y
84 y
86 y
85
87
84 y
86 y
84 y
86
84 y
86
84 y
86
Friday at 4 8360@4 8370 for
60
days, 4 8575@4 8585 for demand and 4 8605@
Commercial on banks was quoted
at 4 8320@4 8340 and documents for payment 4 83
@4 8334- Cotton for payment ranged from 4 82% @
4 83, grain for payment from 4 83%@4 83%.
4 8610 for cables.
The
following gives the week’s movement of money
by the New York banks.
to and from the interior
new
bond
issues to meet the
same
they are a drain upon Government cash the same as
ordinary disbursements. In the twelve months under
review the Canal expenditures reached $33,911,673.
In 1908-09 these expenditures were $31,419,442; .in
1907-08 they were $38,093,929; in 1906-07, $27,198,618; in 1905-06, $19,379,373, and in 1904-05, $3,918,819.
Including the Canal expenditures, the result for
1909-10 would be a deficiency of $18,960,154, which
would compare with a deficit of $90,154,396 in 190809 and a deficiency of $58,135,596 for 1907-08; but with
a surplus of $84,221,912 for 1906-07.
It is worth not¬
ing that up to June 30 1910 the total amount expended
for the purchase and construction of the Canal was
$204,596,342, and of this $87,309,595 had been pro¬
vided from sales of bonds (including premiums),
leaving, therefore, $117,286,747 as expended out of
Government cash and for which the Treasury is re¬
imbursable.
The total amount of bonds authorized
by existing laws for the Panama Canal is $375,200,980,
of which there have been issued thus far only $84,Week ending July 8 1910.
631,980, leaving available for the future $290,569,000.
Currency
$7,958,000
$7,048,000 Gain
$910,000
Gold
1,824,000
1,096,000 Gain
728,000
The favorable result for the year under which, as we
Total gold and legal tenders
$9,782,000
$8,144,000 Gain $1,638,000
have seen, there is a surplus on the ordinary operations
of the Treasury in amount of $14,951,519, has been
With the Sub-Treasury operations the result is as
brought about entirely by the collections on account
follows.
of the new Corporation Tax, though by no means the
Into
Out of
Net Change in
whole of this tax was gathered in before the close of
Week ending July 8 1910.
Banks.
Banks.
Bank Holdings.
the fiscal year.
Banks’ interior movement,
above.
The collections reached $17,362,815
$9,782,000
$8,144,000 Gain $1,638,000
Sub-Treasury operations
27,000,000
36,700,000 Loss
9,700,000
out of an estimated total of somewhat over $27,000,000.
Total gold and legal tenders
$36,782,000
$44,844,000 Loss $8,062,000
Practically the whole rest of the amount has been
The following table indicates the amount of bullion turned into the Treasury in the ten days since then.
Except for the $17,362,815 Corporation Tax money
in the principal European banks.
paid in during the late year, there would have been a
Tuly 7 1910
Tuly 8 1909
Banks of
deficiency of about $2,400,000 even on the ordinary
Gold.
Silver.
Total.
Gold.
Silver.
Total.
operations of the Government, instead of the $14,951,£
£
£
£
£
£
41,484,25!
England.
41,484,251 41,109,491
519 surplus actually recorded.
41,109,491
The Constitutionality
France
135,872.-80 35,247,640 171,119,920 148,008,520 35,994,720 184,003,240
36,760,000 14,290,250 51,050,250 38,233,850 13,200,750 51,434,600
Germany
of the Corporation Tax is in grave doubt, and ulti¬
Russia
141,407,000
8,691,000 150,098,000 125,678,000
8,818,000 134,496,000
Aus.-Hunb 55,459,000 13,269,000 68,728,000 56,391,000 12,953,000 69,344,000
mately the amount collected may have to be refunded,
16,255,000 31,361,000 47,616,000 15,975,000 32,207,000 48,182,000
Spain
38,992,000
3,900,000 42,892,000 38,519,000
Italy
4,725,000 43,244,000
but
the date of the Supreme Court decision on the
Neth’lands
8.831,000
2,416,900 11,247,900 10,115,000
3,574,100 13,689,100
4,310,000
2,155,000
Nat.Belg.
6,465,000
4,334,667
2,167,333
6,502,000
Sweden
4,448,000
4,448,000
4,378,000
validity of the law is still far off in the future, and
4,378,000
Switz ’land
5,634,000
5,634,000
4,754,400
4,754,400
meanwhile it is satisfactory to know that the receipts
1,681,000
1,681,000
Norway..
1,697,000
1,697,000
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Net Interior
Movement.
as
.
..
..
,..
Tot. week
Prev. week
491,133,531 111,330,790 602,464,321 489,193,928 113,639,903 602,833,831
494,870,268, 112,424,513 607,294,781 494,052,722 114,652,020 608,704,742
on
account of that tax have tided the Government
over a
deficit for the time
being.
July 9
1910.]
THE CHRONICLE
67
things have also helped to bring about im¬
provement over what had been expected. Last De¬
cember Secretary McVeagh estimated a deficit in ordi¬
nary receipts of $34,075,620, allowing ingoes on ac¬
count of the Corporation Tax of $15,000,000.
Actu¬
ally, we have seen, there was a surplus of $14,951,519,
a difference, therefore,
of over 49 million dollars.
The revenues turned out to be $675,679,873, against
the $648,000,000 estimated, showing an active state of
trade; while the disbursements reached only $660,728,354, against estimated outgoes of $682,075,620. The
diminution in expenditures followed in no small part
from the reduction in the postal deficiency.
It ap¬
pears that the Post Office Department fell only $8,495,612 short of paying its way, whereas Mr. McVeagh
had estimated a deficiency of $16,880,620, and the
deficiency for the previous fiscal year amounted to no
less than $19,501,062.
This reflects credit upon Post
vious year there was really very little change. The
disbursements for the twelve months reached no less
Master General Hitchcock’s administration of the De¬
that has occurred within
But disbursements under most of the other
leading heads also nearly all fell below estimates,
which is encouraging as far as it goes, though expendi¬
tures nevertheless remain on an extraordinary scale.
While total revenues ran $27,000,000 above last
December’s estimate, the income from customs did
not quite come up to the estimated figure, reaching
$333,043,800, against $335,000,000. But the result
is very close, considering that the country since last
August has been operating under a new tariff. The
Internal Revenue, the Corporation Tax and the mis¬
cellaneous items of receipts all turned out better than
had been looked for, due doubtless to the maintenance
of activity in trade.
The new Tariff Law is certainly
proving productive of revenue, whatever may be
thought of it in other respects. As a matter of fact,
customs collections seem to be more dependent upon
trade activity than upon tariff laws, this following, no
doubt, from the fact that, given a prosperous state of
trade, our importations are sure to be large, no matter
what the rate of duties. The late year’s yield from
customs, at $333,043,800, compares with $300,711,934
in 1908-09 and $286,113,130 in 1907-08.
In 1906 the
yield was $332,233,363, and this was the previous
maximum.
It follows, therefore, that the late year’s
customs revenues were the largest on record, even sur¬
passing the amount realized in the year of great busi¬
ness activity
immediately preceding the panic of 1907.
ernment, we reproduce here a little table published
Other
partment.
than
$660,728,354. This compares with $662,324,444
for 1909, $621,102,390 for 1908 and but $551,705,129
for 1907.
The expenditures, therefore, are still at
maximum figures. The augmentation even as com¬
pared with three years ago, it will be seen, is over
$109,000,000. If we should go further back, we should
find yet heavier increases, and, moreover, it would
appear that in each of the last three years the expendi¬
tures were larger than at the height of the SpanishAmerican War in 1898-99.
In this latter year the ex¬
penditures were $605,072,180, while in the year under
review they reached $660,728,354, not counting the
disbursements
on
account of the Panama Canal.
It is the
country’s inordinate expenditures, therefore,
that constitute the weak point in the situation.
To
furnish a graphic indication of the great augmentation
a
decade in the cost of gov¬
by us on previous occasions, adding the figures for the
latest year. The table shows the expenditures under
the different heads for the last two years and also the
amounts for
fore the
1896-97, which latter
Fiscal Years
1909-10.
Expenditures$
Civil and miscell.*
War
Panama Canal...
Navy
Pensions
Interest
Total
the
year
be¬
Spanish-American War.
U. S. Government
Indians
was
..179,779,764
157,004,608
33,911,673
123,114,547
18,752,612
160,733,839
21,342,984
ending June 30
1908-09.
1896-97.
$
$
186,502,149 90,401,268
161,067,462 48,950,268
31,419,442
115,546,011 34,561,546
15,694,618 13,016,802
161,710,367 141,053,165
21,803,837 37,791,110
694,640,027 693,743,886 365,774,159
*
Including postal deficiency.
This table tells its own story.
On the basis of the
figures of the last two years, we are spending more
on our Navy, more on our military establishments,
more for pensions and more for practically everything
else except interest on the public debt. The War De¬
partment used up $157,004,608 in the latest year,
against only $48,950,268 thirteen years before. The
Naval Department spent $123,114,547, against only
$34,561,546, while the Civil and Miscellaneous expendi¬
tures reached $179,779,764, against only $90,401,268.
The grand aggregate of expenditures for 1909-10 (in¬
The Internal Revenue for 1910 also exceeded that for cluding the $33,911,673 disbursed on account of the
1907, though it did not quite equal the amounts for Panama Canal) amounts to $694,640,027, against no
1900 and for 1901 at the time of the Spanish-American more than $365,774,159 in the year before the Span¬
War, when special excise imposts were levied. In ish War. It would seem as if here there were a great
brief, the product of the Internal Revenue was $285,- opportunity for retrenchment and economy, and it
185,830 in 1910, against $246,212,644 in 1909, $251,- would also seem that as yet the efforts of the Admin¬
711,127 in 1908 and $269,666,773 in 1907. Aggregate istration in that direction had made very little im¬
gross receipts for 1910 were the largest on record, pression.
No new bond issues were put out during the year
reaching, as already stated, $675,679,873, which com¬
pares with $603,589,490 for 1909, $601,126,119 for and as a consequence, even though receipts exceeded
1908 and $663,140,334 for 1907, the previous maxi¬ disbursements by $14,951,519, the fact that expendi¬
mum.
tures of $33,911,673 were made on account of the Pan¬
These figures of gross revenues are interesting since ama Canal served materially to reduce Treasury availa¬
they make it evident that the only reason why there ble cash. Furthermore, the payments on account of
was not a
surplus on a tremendous scale, such as ex¬ the National Bank Redemption Fund exceeded the de¬
isted in previous years of great prosperity, is that ex¬ posits on account of the same fund, the former reach¬
We ing $32,288,770 and the latter $31,674,292. Two years
penses have risen to such an enormous extent.
have noted above that the disbursements for the late ago the amount to the credit of the National Bank Re¬
year fell below last December’s estimates.
But as demption Fund was $72,459,284; on June 30 1909 it
compared with the extraordinary outgoes of the pre¬ was only $28,518,941; now, for June 30 1910, it is
68
THE CHRONICLE
$27,904,463. The available cash balance June 30
1910, after deducting the $150,000,000 gold reserve,
was $100,490,784, against $124,453,841 June 30 1909.
This is a reduction of, roughly, $24,000,000.
No
change whatever occurred in the outstanding bond is¬
sues during the year, and the aggregate of the interestbearing debt June 30 1909 stood precisely the same as
on June 30 1909,
namely, $913,317,490. Treasury
cash, as already indicated, was reduced. The net
debt of the United States, after allowing for cash in
the Treasury, was on June 30 1910 $1,046,449,185,
as against the net debt of $1,023,861,530 on June 30
1909, an increase of $22,587,655. Government money
holdings during the twelve months increased from
$300,341,525 to $313,824,405, but Government de¬
[VOL.
LXXXXI
personal record without stain. They have given
an
example of length and faithfulness of service. The
three whom the country has lately lost by death fell
at their posts, and the latest to
go persevered against
the infirmities of age.
In filling such positions
partisanship and parties
no weight.
So long as party names re¬
main, the party which happens to be in control should
rise above all idea that judgeships are “places” which
form part of the prizes of power.
Neither in making
an
appointment nor in the mind of an appointee after
he takes his seat should any consideration ever arise
of the relation between any law or any line of policy
and either the dominant or the minority party.
Noth¬
ing smaller and less permanent than the whole country
posits with national banks were reduced from $74,- and justice itself ought ever to be tolerated. Here is
no place for
698,615 to $51,685,340.
personal friendships or for party promoting.
Our high courts belong to the wTorld and to mankind.
That the traditions and record of the past may be
THE DEATH OF CHIEF JUSTICE FULLER.
Still another change is made in the Supreme Court preserved without even a trace of wavering must be
by the sudden death of Chief Justice Fuller. When the earnest hope of every thoughtful citizen.
nominated by President Cleveland in 1888 he was not
well known to the country at large, and not until some
WHY RAILROAD RATES NEED TO BE
three months after was the Senate brought to consent.
ADVANCED.
In discussing in these columns from time to time
While he perhaps did not win the very highest place
in the history of American jurists, he was always a during the present year the necessity of an advance
sound, careful and honored member of the Court, in railroad rates to meet the increased cost of railroad
sharing in all its work of the last 22 years; and it fell operation, it has seemed to us that the problem was
to him to witness the beginning of six Administra¬ such a simple one in its main features that there was
tions.
Although of small stature, his abundant no need at any attempt at special elucidation. It
silvery hair made him a noticeable figure, and he appears, however, that in this we are mistaken, at
least judging from the letters of inquiry that we are
passes crowned with both years and honors.
Justice Harlan, born in the same year with the late receiving.
Of course it is possible to complicate the
Chief Justice and entering the Court 11 years, earlier problem by introducing extraneous factors; but, ac¬
than he, by appointment of President Harrison, is cording to our conception, the proper way of treating
now the sole really venerable survivor and the
only the matter is to compute the amount of the extra
member appointed earlier than 1894. Except Justice annual outlays that rail carriers will be obliged to
White, appointed in 1894 by President Cleveland, make each year by reason of the higher schedules of
and Justice McKenna, appointed in 1898 by President wages they have been forced to adopt in order to avert
McKinley, the only surviving members now in service strikes, increase this sum by an amount to represent
are appointees of ex-President Roosevelt.
roughly the higher operating cost in other directions,
Thus we are brought more and more closely to facing and then make such moderate advance in transpor¬
the inevitable reconstruction of the final tribunal to tation charges as will give enough additional gross
which the country must look as the bulwark of its income to compensate in fair part for the added ex¬
liberties and institutions as originally founded and the pense. It was in this view that in our issue of June 11
preserver of substantial justice.
We are reminded we remarked that it wras a matter of mere arithmetic
anew that justice and wisdom are in their nature de¬
to demonstrate how much the increase in wages was
liberate, while anger and the impulse to catch at the going to add to the annual expense of the roads and
nearest apparent remedy for what seems at the time also to approximate the addition resulting from the
to be wrong, because it is unpleasant, are in their nature advanced cost of the many other articles
entering into
the
always hasty. We have to remember that high courts
operating accounts of rail carriers.
cannot be trusted to indefinitely withstand the
An
official of one of the banks in Omaha writes us,
popular
desire. Judges may have their individual opinions, but however, saying that in his estimation there is another
they cannot prevent laws merely because of their being factor which enters into, or should enter into, the
foolish.
It is not their part to interpose decisions be¬ demonstration.
He gives his reasons in these words:
fore measures which are unwise and will work mischief “Before the
abolishing of rebates all the roads struggled
unless they also contravene the Constitution or
and
were
for through freight from New York
anxious
(at
most) violate principles of justice which the centuries to Omaha. First-class freight is $1 48 per 100 lbs.;
have fixed. Therefore, to rush off into statutory excesses the rebate was 74 cents
per 100, making the net result
on the
to
the
railroad company for its freight 74 cents per 100
assumption that the courts will protect us from
our own follies will be most unsafe.
from New York to Omaha.
For the past five years
The country has been blessed, from the
beginning, or since the abolishing of the rebates they have been
with probity and weight in its high courts, so that we receiving $1 48 per 100. Why, then, do
they need
might fall into the mistake of forgetting that a lower¬ an advance in the freight rate?” These repiarks r^ise
ing of the standard is not in the nature of things im¬ an inquiry that ha£ beenpropounded by others,
possible. While inadequately t paid,: the members of namely whether rates, though nominally the same,
the highest court have kept their ideals high and their are not considerably higher than
they formerly were,
should have
July 9
by
THE CHRONICLE
1910.]
of the mere fact that rebates are no longer
allowed to shippers. Unquestionably the carriers do
get a considerable advantage in that way. We should
doubt, however, whether the rebate was ever as great
on shipments between Omaha and New York as our
correspondent puts it. He assumes, it will be seen,
it was 50%, and he is also of the opinion that rebates
were allowed up to five years ago.
If the rebate ever
amounted to 50%, it must have been for a very brief
period of time, constituting a very exceptional con¬
dition, which need not be considered in a general in¬
quiry of the present nature. It is also a mistake to
assume that rebating was
practiced up to five years
ago.
It seems safe enough to say there has been no
rebating or secret cutting of rates of a general charac¬
ter since the enactment of the Elkins law in 1903,
and
we believe it correct to
say not for three or four years
before that time, as the practice had found general
condemnation, and the Inter-State Commerce Com¬
mission had been making special efforts to
put an
reason
end to it.
Suppose, however, that
69
Minnesota State Bankers’ Association, two weeks
ago,
contained some illumining figures on this
point.
pointed out that ten years ago
100,000 white oak ties cost about $42,000; to-day it
requires from $85,000 to $95,000 to pay for them. A
locomotive which cost $12,000 in 1899 now costs
about $19,000.
In 1899 8,000 standard box cars
could be bought for approximately $600,000;
to-day
President
Brown
it takes
little
for
a
them.
A
more
than
a
million dollars to pay
railroad
pay-roll which aggregated
$100,000 in 1899 will closely approximate $140,000
to-day, with exactly the same number of men, in the
same positions, doing the same work.
Besides this,
the burden of taxes has been
enormously added to.
Mr. Brown says that where $100,000 was
required to
pay the taxes on railroad property a decade ago,
$163,000 is required to-day.
It would have been impossible to meet this
great
augmentation in operating cost without raising rates
except for the introduction of striking new economies
in railroad operations.
By improving road-bed and
track, by reducing grade and changing alignment, by
purchasing cars of larger capacity and employing
engines of greater tractive power, railroad managers
were able so to
enlarge train capacity as to reduce the
cost per unit of transportation service rendered.
In
this way, also, they were able to
develop new sources
of traffic.
Thereby an increase in rates in the older
parts of the country was averted, notwithstanding the
enhanced cost of everything; while in the newer sec¬
tions of the country reductions in rates were
actually
effected in face of this rise in prices.
One illustration
of what has been accomplished in the way
of operat¬
ing economy appears when we note that in the fiscal
year 1898 the average train-load per freight train for
the railroads of the United States was 226
tons, while
in 1908 the average had been brought
up to over 351
tons, an improvement of considerably over 50%.
compared with, say,
the railroads are enjoying advantages
by reason of the abolition of rebating practices and
secret cutting of rates, is it not a fact that at that
period large numbers of roads were in a state of
bankruptcy, or just emerging therefrom, showing that
the t ransportation charges less
rebates were plainly in¬
adequate. Have not other circumstances also changed
in the interval?
Obviously, when the inquiry is ex¬
tended back for a period of eight to ten
years, it be¬
comes
necessary to consider notj^me recent increases
in wages and recent additions ter
operating cost, but
all changes of that character
during the last decade;
The fact is notorious that
prior to the present year’s
advances in wages there were successive
previous ad¬
vances of the same kind, and
that notwithstanding
such advances the carriers found it
impossible to reduce
But now the railroad managers seem to have ex¬
wages, even in a small way, during the period of ex¬
traordinary depression in 1908. It is also a well- hausted their powers for developing economies in
known fact that during the same interval the cost of operation, and at the same time they are confronted
practically everything entering into the operating with new additions to operating cost, particularly in
accounts of the roads
the case of railroad labor.
In 1898 the average earn¬
enormously increased.
The Inter-State Commerce statistics throw a
good ings per train mile for the railroads of the United States
deal of light on the subject. The
figures for the fiscal was $1 45. By 1907, under the economy in train¬
year 1908 have only recently been compiled, so these loading, this had been brought up to $2 17.
But
are the latest available.
1908
saw a reduction to $2 11.
The
Comparing the results for
expense of run¬
that year with
corresponding results for 1898, a ning the trains further increased even in 1908, and
striking increase is disclosed in the pay of all classes the result was that the profit per train mile, which
of railroad employees.
For instance, the average had risen from 49c. per train mile in 1898 to 70c. in
daily compensation of locomotive engineers in 1908 1907, fell off again to 63c. It must also be remem¬
was $4 45, as
against only $3 72 in the fiscal year 1898. bered that the roads are all the time obliged to in¬
The firemen averaged $2
64, against $2 09; conductors crease their capitalization—to put out new stocks
S3 81, against S3 13; machinists S2 95,
against $2 28; and bonds in order to provide the additional equip¬
telegraph operators S2 30, against SI 92; station agents ment and facilities needed to handle the growing
S2 09, against SI 73.
In other words, wages in 1908, volume of business. Nor can they borrow on the same
measured by the daily
compensation, were 20 to 30% advantageous terms as formerly. A decade ago they
higher than they had been in 1898. But that does' could borrow in most cases at 3J^@4%. Now they
not represent the full extent of the
increase, since are obliged to pay for their loans, except in very rare
hours of service have in a great
many instances been cases, 5@6%.
In short, a point has been reached where an advance
reduced, and various other allowances and concessions
in rates is absolutely
granted which serve further to add to absolute cost.
necessary to preserve the integ¬
Not merely, however, has the labor cost
risen, but rity and stability of railroad property. It is estimated
all
practically
other items entering ititb the operating that1 the advances in wages made the present year
accounts have also rj'sen, as
already stated. Th& ad¬ will adtLbetween 100 millions and 150 million dollars
dress made ' by1' President -William ‘ £); Brown of the •to the :&nnUal
expenses of the railroads of* the United
as
ten years ago,
N. Y. Central Lines at the annual convention of the
States.
And these advances have
by
no means as
yet
THE CHRONICLE
70
come
to
an
end.
As shown in
“Financial Situation”
on a
railroad
trainmen
in
article
on
the
preceding
siderable further advances
to
our
wrere
page, very con¬
awarded this week
Southeastern territory
by
[VOL. LXXXXI.
—The Board of Trustees which is to have charge
of the
organization and supervision of the postal savings banks—
consisting of the Postmaster-General, the Secretary of the
Treasury and the Attorney-General—held its first meeting
on
the 1st inst.
Theodore L. Weed, Chief Clerk of the
Post Office Department, was appointed Secretary of the
Board, and a committee of departmental officers was named
to work out the details of the system and to submit a report
to the Trustees as soon as possible.
This committee is made
up of H. H. Thompson, Superintendent of the Division of
Finance, Chairipan; Bayard Wyman, Basil Miles, James B.
Cook, C. H.
G. G. Thomson and George G.
Kimball.
The/ Postmaster-General reported to the Board
that he had applied to all foreign governments having
postal savings systems for samples of their printed forms
and record blanks, and copies of their regulations and in¬
structions.
It is reported that Postmaster-General Hitch¬
cock, in a conference with Postmaster Campbell of Chicago
this week, expressed the opinion that no^postal savings bank
representatives under the Erdman law.
with
additional advances next April. Moreover, the train¬
men on the lines of the Pennsylvania RR. east and west
of Pittsburgh and Erie are voting on a proposition
^ullaway,
to strike, owing to the refusal of the company to accede
to a further increase in pay in their case.
At the
same time the monthly returns of earnings of the va¬
rious roads throughout the country make it clear
that the need for action in the way of raising rates is
urgent and imperative. We showed last week that
could be established before Jan. 1 of next year.
on the Pennsylvania lines directly operated east and
—Thejfirst withdrawals|of public lands to be made under the
west of Pittsburgh, out of a gain in gross earnings
authority
of the law, signed by President Taft on June 25,
for the month of May in the large sum of $3,356,900,
occurred within the past week.
On the 3d inst. the Presi¬
only $37,100 remained in the shape of increased net, dent signed an order withdrawing from public entry 8,495,731
because of an augmentation of $3,319,800 in ex¬ acres of power-site, phosphate and petroleum lands; the
Government
Some of these advances become effective now,
area
penses.
great deal
worse than this.
The Rock Island Co., for instance,
in its statement for the same month issued last week,
recorded $190,500 gain in gross, with $715,714 loss in
net. For the eleven months of the fiscal year, from
the first of last July to May 31, this company gained
$4,438,293 in gross revenue, and yet falls $948,607
behind in net, owing to the augmentation in expenses.
The May statement for the New York Central has been
issued the present wreek, and shows only $89,209 gain
in net with a gain of $914,981 in gross.
For the five
months to May 31 the net records a decrease of $336,794, in face of a gain in gross of no less than $3,698,945.
The reader knows, of course, that there is a greatly
increased capitalization on which it is necessary to
earn
a return.
These figures refer to the Central
proper.
Taking all the Central lines combined, there
was in May $2,580,442 gain in gross, attended by
$33,491 loss in net.
Some other
The
case
large systems
are
doing
a
of the Atchison is familiar to all.
This
involved in
the'power-site withdrawals are in Arizona,
California, Colorado, Idaho, Montana, Nevada, New
Mexico,
Oregon, Utah, Washington and Wyoming; the phosphateterritory in Florida, Idaho, Utah
and Wyoming, while the petroleum-land withdrawals cover
Arizona, California, Colorado, Louisiana, -New Mexico,
Oregon, Utah and Wyoming. President Taft on the 3d
inst. also signed orders of withdrawal covering public lands
and lands in national forests in Alaska, in which workable
coal is known to occur, thus ratifying, confirming and con¬
tinuing in full force and effect the order of withdrawal made
by direction of President Roosevelt on Nov. 12 1906. On
the 7th inst. orders were signed by the President withdraw¬
ing 35,073,164 acres of coal lands from the public domain
in North and South Dakota, Washington, Utah, Colorado
Of these withdrawals 20,698,469 acres had
and Arizona.
not heretofore been authorized; the other 14,374,695 had
been previously withdrawn, but the proceedings were con¬
sidered of doubtful validity, and it was to prevent any ques¬
tion arising in the future that the withdrawals are now
definitely confirmed.
land withdrawals cover
—George Otis Smith, director of the Geological Survey,
assigned to temporarily assume the direction of the
new Bureau of Mines, which has been established in the
Department of the Interior. The bill creating the Bureau
was passed
at the late session of Congress and became
effective on the 1st inst.
The text of the law was published
has been
large system for the eleven months to May 31 has in our
issue][of June 4.
added no less than $10,370,949 to gross revenue, but
—In conjunction with the issuance of a call for a report of
nevertheless has lost $1,733,531 in net.
The Illinois condition by the national banks on June 30, Comptroller
Central in May lost $486,124 in net, with a gain of of the Currency, Lawrence O. Murray, also requested of the
$398,772 in gross, and is $351,062 behind in net for Bank Superintendents of the various States that a call for
statements be made upon the institutions under their juris¬
the eleven months, notwithstanding a gain of $4,708,143
diction on the same date.
Similar action to secure statistics
in gross. Many other instances of the same kind from all the institutions throughout the country on an
might be mentioned, there being improvement in the identical date was taken by the Comptroller last year at
net only as a rule in cases where the gain in gross has the time of the April 28 call upon national banks.
—C. C. Barksdale assumed charge of the new State Bank¬
been of phenomenal extent.
With the higher wage
schedules of 1910 counting only in part in these results, ing Department of Virginia on the 1st inst. The Depart¬
ment was created at the late session of the Legislature and
is there the least ground for doubt that advances in will be conducted under the supervision of the State Corpora¬
rates are an imperative necessity?
tion Commission.
Mr. Barksdale’s official title is State
Bank Examiner.
ITEMS ABOUT
BANKS, BANKERS AND TRUST CO.’S.
—The public sales of bank stocks this week aggregate 55
shares and were all made at the Stock Exchange.
No trust
company stocks were sold.
Shares.
BANKS—New York.
*25 Commerce, Nat. Bank
*20 Fourth National Bank
of
*10 Hanover National Bank
*
Sold at the Stock
—Melville W.
Low.
202
High. Close. Last previous sale.
203
203
June 1910— 205
184
625
625
184
184
625
page.
—a New York Stock
for
transfer this
passed by the New York Legislature in May was
the 1st inst.
As required in the resolution, the
Committee is made up of three Senators and five members
of the Assembly, and consists of Senators Victor M. Allen,
Alexander Brough and Robert F. Wagner; Assemblymen
June 1910— 184
resolution
May 1910— 625
named
Exchange.
Fuller, Chief Justice of the Supreme Court
of the United States, died suddenly on July 4 at his summer
home at Sorrento, Maine.
Mr. Fuller had served as Chief
Justice for twenty-two years.
He was seventy-seven years
of age.
Some comments on the effects of his death on the
Supreme Court will be found in our editorial columns on a
preceding
Exchange membership was posted
week, the consideration being $76,000.
The last previous sale was for the same amount.
—The committee of Assemblymen and Senators delegated
to investigate legislative corruption in accordance with the
.
on
Edwin A. Merritt Jr., William W. Colne, Frederick R.
Toombs, Frank L. Young and James A. Foley. The first
meeting of the Committee was held at-the Murray Hill Hotel,
New York, yesterday (July 8), when Assemblyman Merritt
was elected Chairman, andlSenator Brough was made Vice-
July 9 1910.
THE CHRONICLE
Chairman.
Ex-Lieutenant-Governor M. Linn Bruce was
Counsel to the Committee.
The next meeting
will be held on the 26th inst.
chosen
—E. H. It.
Green,
of the
son
of Mrs. Hetty Green,
Seaboard
National
Bank
of
was
elected
Co."
a
this
its President, Joseph B.
Reichmann, made the following announcement:
Fairchild, founder of the New York Stock Ex¬
change house of Charles Fairchild & Co., died on the 7th inst.
at Newport, R. I.
He was formerly a member of the bank¬
ing house of Lee, Higginson & Co. of Boston, but retired
someyearsago.
Mr. Fairchild was seventy-two years of age.
—Samuel D. Styles, President of the North River
Savings
Bank, at 31 West 34th Street, died on a New York Central
train last Saturday, while on his way to his summer
home at Richfield Springs, N. Y.
Mr. Styles had been
President of the bank for fifteen years.
He was prominent in
a
My attention has been called to the publication of an alleged theft o
$400,000 worth of bonds of the Titusville Northern Railroad Co. from this
company.
It is an absolute fabrication, with not even a semblance of
truth In It.
There has
not been a defalcation of a single bond or a
All we know about the matter Is that we
single dollar in this institution.
have been told that there is a dispute between the broker who borrowed
the
money from us, amounting at present to about $58,000, and his client, as to
how many bonds the client delivered to the broker
originally. So far as we
are concerned, we received, in addition to other
collateral, 300 bonds,
which are now, and have been, in our possession since the time
of the mak¬
ing of the loan, and have been exhibited to representatives of the press, as
well as to the State Banking Department, who have issued the
statement
which follows.
reduction in the rate0 of interest
The statement of the Banking Department referred to in
Mr. Reichmann’s letter is as follows:
'
deposits in savings banks, and his institution was one
of the first to lower the rate in January.
Mr. Styles was
formerly a member of the printing and stationery house of
Styles & Cash, of West 14th Street, and at the time of his
on
death
he
Co.
held
was
adopted
on
by his associates in the latter company
the 7th.
were
—With the resignation of Charles H. Sabin as Vice-Presi¬
dent of the Mechanics & Metals National Bank of this
city,
effective this week, several changes have been made in the
personnel of the bank’s staff. Walter F. Albertsen, Cashier,
a Vice-President,
Joseph S. House, heretofore
an Assistant Cashier, has become
Cashier, and Charles E.
Miller, formerly manager of the credit department, has been
has been made
chosen
Assistant Cashier.
As noted two years ago,
Mr. Sabin has been elected Vice-President of the
as
an
Guaranty
Trust Co.
—The
State of New York Banking Department.
New York, N. Y., July 6 1910.
Referring to the report current in to-day’s papers to the effect that $400,000 worth of railroad bonds deposited as security for a loan
with the
Carnegie Trust Co. by Charles E. Wellborne has been stolen, I wish to state
on behalf of this Department that an examination made
by the Depart¬
ment soon after the making of the loan showed that there had been
de¬
posited with the company $300,000 of such railroad bonds, which the com¬
pany had on hand at the last examination of this Department, and still
has on hand, according to the report of one of our examiners who counted
director of the Lincoln Trust Co. and the Home
Resolutions voicing the esteem in which
was a
Insurance
expansion in the business of the Guaranty Trust
Co. of this city since the consolidation with it of the Fifth
Avenue Trust Co. and the Morton Trust Co. in
January is of
than passing interest, for in the June 30 statement the
more
institution shows deposits of greater volume than have
heretofore been reported by any like institution.
On Jan. 31,
four
given out by
On behalf of the trust company,
—Charles
the movement to effect
was
There is no evidence in the possession of this office which reflects in
any
way upon the financial responsibility of the present
management of the
Carnegie Trust Co., or upon any of its present officers, or the Board of
Directors as now constituted.
The evidence submitted to me shows that
the trust company received, as collateral to a loan made
by it, 300 of the
bonds of the Titusville Northern Railroad Co., a
Pennsylvania corpora¬
tion. which it mow has in Its possession and has produced to me.
city on
Mr. Green is President of the Texas Midland
Thursday.
RR.
position in the matter. One of these
District Attorney Whitman and said:
as
director
71
'
them
to-day.
WALTHER WOLF, Third Deputy Superintendent.
Mr.
Wellborne, mentioned in the foregoing statement, is
said to be the President of the railway
company.
Charles W.
Chapman, a broker at 25 Broad Street, is also said to be
concerned in the dispute.
The loan is reported to have
been negotiated by the trust company
during the presidency
of the late C. C. Dickinson.
—An order
authorizing the dissolution of the Riverhead
Riverhead, L. I., was signed by Justice Garretson
of the Supreme Court, Brooklyn, on the 2d inst.
The
institution is succeeded by the newly organized Suffolk
County Trust Co.
Bank of
—William H. Burrows was chosen to the presidency of the
Middletown National Bank of Middletown, Conn., on the
1st inst.
to fill
E. K. Hubbard
the vacancy
on
caused by the resignation of
April 5.
On the 1st inst. Francis A.
position of Cashier, to which he was
days after the merger went into operation, the company Beach assumed the
deposits of $138,116,672 and resources of $164,411,710; elected on Jan. 11.
on June 30 its
deposits are given as $157,053,683, while its
—John C. Boyd celebrated his twenty-fifth
anniversary
resources aggregate $183,632,229.
The capital is $5,000,- as
Manager of the Philadelphia Clearing-House Association
000, the surplus $18,000,000 and the undivided profits June
29.
Mr. Boyd was elected to that office on June 29
amount to $2,839,122.
1885, after serving as Assistant Manager from 1876.
—Louis S. Brady, formerly of the Fifth Avenue
Bank,
—The Merchants’ National Bank of
Philadelphia has been
was on
Tuesday appointed Assistant Cashier of the New consolidated with the First National Bank of that
city, the
Netherland Bank of New York, at 41 West 34th St.
merger having gone into effect on the 1st inst.
No intima¬
—The Broadway Trust Co. of this city has moved to new tion of the
impending move had been made public until its
banking rooms on the southeast corner of Broadway and actual accomplishment. The Merchants’ National, which is
8th St.
The company’s offices were formerly on the
oppo¬ placed in liquidation, was the younger of the two institutions;
site, or northeast corner.
it was established in 1880, while the First National, the first
—The ten-day sentence imposed on Arthur P.
institution
in the country to receive a Federal charter, dates
Heinze,
brother of F. A. Heinze, by Judge Ray in the U. S. Circuit from 1863.
In its report of March 29 the Merchants’ showed
Court last October was upheld in a decision rendered
capital
of
$1,000,000,
surplus and profits of $914,653, de¬
by the
U. S. Circuit Court of Appeals on the 5th inst.
posits
of
$12,635,391
and
The sentence
aggregate resources of $14,901,044.
followed the conviction of Mr. Heinze last June on charges The First National has a capital of $1,000,000, which it is
of interrupting the administration of
justice in blocking the proposed to increase to $1,500,000 through the issuance of
service of a subpoena on an employee
concerned in the disap¬ 5,000 new shares, all of which will be allotted to the stock¬
holders of the Merchants’ National.
pearance and mutilation of books of the United Copper Co.
A cash payment of
A stay of sentence had been
of
$50
on
each
share
the
Merchants’
will,
it is stated, be made
granted, pending an appeal,
Mr. Heinze being released under bail of
to
equalize
the
transaction.
The
$2,500. In its
surplus and profits of the
decision affirming the sentence of the lower
Court, the First National were $1,019,245 in the March statement, while
Circuit Court of Appeals said in part:
i ts deposits on June 25 were $10,418,000. J. Tatnall
Lea, who
“There was no error in denying the motion to dismiss this indictment
has been President of the First National since
April 1904,
on account of
proof that the writ of subpoena was outstanding at the time
will continue in the presidency, and William A.
of the defendant’s acts: and
Law, who
certainly there was no error in denying such
motion upon the ground that the offense
became President of the Merchants’ National last
charged was not established in
January,
other respects.
The
had
testimony, not objected to and not contradicted,
beyond the slightest doubt that the defendant sent Tracy S.
Buckingham (wanted as a witness by the Federal Grand Jury) out of the
showed
country and had furnished him money with which to go out and stay
out: had in the most flagrant manner attempted to obstruct and
impede,
and had obstructed and impeded the administration
of justice in a circuit
court of the United States.
The sentence which the trial court saw fit
to Impose does not Indicate the serious nature of
the offense.’’
It is Mr. Heinze’s purpose to
review the
—A
have the U. S. Supreme Court
case.
dispute which has reached the courts concerning a
$400,000 bond issue of the Titusville Northern R.R., part
of which is deposited as collateral with the
Carnegie Trust
Co. of this city, resulted in the issuance on
Wednesday of
several statements ^with regard to the trust
company’s
will be identified with the First National as First VicePresident.
The full roster of the enlarged bank will be as
follows:
J. Tatnall Lea, President; William A. Law and
Kenton Warne, Vice-Presidents; Thomas W.
Andrew,
Cashier; C. H. James and Freas B. Snyder, Assistant Cashiers.
Messrs. Warne and
James were heretofore respectively
Cashier and Assistant Cashier of the First National, and
Messrs. Andrew and Snyder served as Cashier and Assistant
Cashier respectively of the Merchants’.
The board of the
First National will be increase d to eighteen members through
the addition of
Merchants’.
seven directors from the directorate of the
The stockholders of the two institutions will
formally ratify the
merger
proceedings
on
Aug. 3.
THE CHRONICLE
12
[VOL. LXXXXI.
rr;
growth has occurred in the business of the
Second National Bank of Washington, D. C.
Its deposits
increased from $1,440,205 Feb. 5 1909 to $1,609,510 Mch. 29
1910, the date of the previous statement to the U. S. Comp¬
troller. In the same period surplus and profits advanced from
$244,207 to $255,698, and total assets from $2,744,164 to $2,958,208. The bank is a U. S. depositary. It was established in
1872 and has $500,000 capital.
William V. Cox, its Presi¬
dent, is well known to bankers throughout the country for
his active work in the interests of the American Bankers’
Walter C. Clephane is Vice-President, John
Association.
C. Eckloff. Cashier, and Jacob Scharf, Assistant Cashier.
—Substantial
Riggs, whose father, George W. Riggs,
banking house of Riggs & Co., of Washington,
D. C., which was succeeded by the Riggs National Bank,
died on the 7th inst. at his summer home in New London,
Conn.
He was fifty-nine years of age.
Mr. Riggs was
associated with the banking business of his father, but re¬
tired some time since.
At the time of his death he was a
director of the National Metropolitan Bank and the National
Savings & Trust Co. of Washington.
Francis
—E.
founded the
opening of the Ohio Valley Bank & Trust
—The
Cincinnati, which is being organized with $250,000
Co. of
capital,
September, according to the present
Subscriptions to the stock, which is being disposed
of at $120 per share, are now being received; the payments
on the stock are 10% with subscription and the remainder
on
September 1.
will be deferred until
plans.
being organized in Washington,
C., under the title of the National Exchange Bank. The
capital is to be $300,000. The interests concerned in the
movement are Albert F. Fox, Charles B. Bailey, George
W. F. Swartzell, Brainard H. Warner, John Joy Edson and
B. F. Leighton.
The application to organize was approved
—A
new
national bank is
D.
June 18.
of the Grand
replaced F. M. Davis as Cashier
Rapids National Bank of Grand Rapids, Mich.;
Charles
Bender
—Heber W. Curtis has
W.
has
become
a
Vice-President of
the
deposits of the State banks of Chicago have reached
high record in their reports of condition on July 1.
The total on this date was $413,310,330 and compares with
$403,898,799 for the same banks on March 30. The na¬
tional banks on June 30 showed a decrease in deposits of
over $17,000,000, due to the demands of country banks.
The First Trust & Savings shows the greatest gain in de¬
posits, $4,000,000; the Illinois Trust & Savings gained
$1,700,000; the American Trust & Savings, $1,500,000; the
Merchants Loan & Trust Co.,
$1,200,000, and the Hi¬
bernian Banking Association over $1,000,000.
Of the
National banks, the Live Stock Exchange increased its
deposits nearly $1,000,000; the Prairie National, $338,000,
and the National Produce Bank over one-quarter million
—The
new
dollars.
of the Continental Na¬
Chicago, who had been on a leave of absence
since the elevated railroad accident of a year ago, in which he
suffered severe injuries, has returned to his duties at the bank.
—William G. Schroeder, Cashier
tional Bank of
—In its report
of July 1 (see advertisement on another
of the “Chronicle”) the State Bank of Chicago makes
the best showing it has ever published.
Its deposits amount
to approximately $23,000,000.
Its growth under President
Goddard, as under his predecessor, has been steady and
substantial.
Cashier Henschen is again “on deck,” having
nearly recovered from his severe injury, recorded in a recent
page
issue of the “Chronicle.”
‘
—Charles H.
Loan & Trust
Ravell, advertising manager of the Merchants
Co., Chicago, resigns that position this month
to assume similar
responsibilities for a circuit of banks out¬
Mr. Ravell has been with the Merchants
Loan & Trust Co. since January, 1906, but during the past
two years has been working out a series of experiments for
banks located wholly in industrial cities and others in rural
side of
Chicago.
and mixed communities.
His methods have been to per¬
sonally examine local conditions surrounding the bank
contemplating an advertising campaign, and to supply
what is seemingly the proper remedy.
One of Mr. Ravell’s
products is a book published for the Merchants Loan &
Trust Co., entitled “Fifty Years of Banking in Chicago.”
He has also produced a similar history for a bank in Michigan
which celebrates its sixtieth anniversary in
July.
of
the
Chicago financial institution
projected by Charles S. Castle, formerly of the Continental
National Bank of Chicago, has been changed from the Com¬
merce Trust & Savings Bank to the Standard Trust & Savings
Bank.
The change was made to avoid any possible con¬
fusion with existing institutions.
As noted a week ago the
new bank will have a capital of $1,000,000 and surplus of
$250,000.
name
—William
as
C.
new
Brumder
succeeded
has
George Brumder
President of the Germania National Bank of Milwaukee.
—Paul
Hardey, manager of the bond department of
Savings Bank of Denver, Colo., has been
elected a director of the institution to take the place of
Lawrence C. Phillips, resigned.
As recently stated, the
bank has increased its capital from $50,000 to $100,000;
its surplus has been increased from $20,000 to $40,000, and
the Inter-State
its combined assets
are now
about $875,000.
—The First National Bank of
Billings, Mont., was closed on
by the Comptroller of the Currency and was
placed in charge of National Bank Examiner R. W. Goodhart.
The bank had a capital of $150,000 and its deposits
on March 29 were said to be $1,692,429.
With its suspen¬
sion, an affiliated institution, the First Trust & Savings
Bank, also closed its doors. The latter had a capital of
$100,000, while its deposits are placed at $450,000.
P. R.
the 2d inst.
Moss is President of both institutions.
—A
consolidation
is
planned
between
the
Southern
National and the Third National banks of Louisville, Ivy.
The proposition has been agreed to by the directors of the
two institutions and will be submitted to the
stockholders
Aug. 5. It is proposed that the Third
National be taken over by the Southern, the latter increasing
its capital from $250,000 to $500,000.
Tim Third National
has a capital of $300,000; its shareholders are to receive
$200,000 of the new $250,000 issue of the Southern; the other
$50,000 will be sold at $150 per share, thus providing for an
addition of $25,000 to the surplus.
Each of the banks has
deposits of about $2,200,000. The Southern National was
for ratification
on
established in 1899 and the Third National in 1874.
John
McHenry resigned the presidency of the Third on June 28
was made Acting President.
J.
institution.
a
—The
and Vice-President A. S. Rice
—The consolidation of the Bank of Richmond with the
Virginia at Richmond, became operative
July 1, following the approval of the merger by the
respective stockholders. The union is effected under the
Bank of Virginia, which with the
name of the National
consolidation increases its capital from $500,000 to $1,200,000. The Bank of Richmond had a capital of $1,000,000
and surplus and undivided profits of over $500,000.
Other
details conerning the consolidation were given in our issue
John Skelton Williams, President of the Bank
of June 4.
of Richmond, becomes a Vice-President of the National
Bank of .Virginia,
William M. Habliston retaining the
presidency of that institution. The directorate of the
enlarged bank will consist of the following: E. B. Addison,
E.L. Bemiss, Eppa Hunton Jr., James A. Moncure, William
Northrup, S. W. Travers, John Skelton Williams, John T.
Wilson, J. G. Tinsley, Carl Nolting (the foregoing being
newly elected members representing the Bank of Richmond),
Benjamin P. Alsop, George L. Christian, T. A. Cary, T. H.
Ellett, H. Theodore Ellyson, W. P. Glinn, W. M. Habliston,
E. C. Laird, R. H. Lindsey, William T. Reed, J. W. Rothert,
R. G. Rennolds, B. R. Wellford, F. D. Williams and T. C.
The consolidated institution occupies the
Williams Jr.
quarters in which the Bank of Richmond had been housed.
—The arrangements for uniting the National State Bank
and the City Bank of Richmond also became effective on
the 1st inst., the outgrowth of this union, the new National
State & City Bank, having been established on that date.
This institution has a capital of $1,000,000 and a surplus of
$600,000, and is under the management of William H. Palmer
President; John S. Ellett, William M. Hill and J. W. Sinton,
Mr. Palmer
Vice-Presidents, and Julian H. Hill, Cashier.
was President of the City Bank and Mr. Ellett
President of
the National State Bank.
The consolidation was ratified in
National Bank of
on
.
heretofore noted.
—Steps have been taken to increase the capital of the
June,
as
Bank of Commerce & Trusts
of Richmond from $200,000 to
It is also stated that plans are being considered
for the consolidation of this institution and the Capitol
Savings Bank, Control of the latter (capital $50,000) was
acquired early in 1909 by interests in the American National
$300,000.
Bank and the Bank of Commerce & Trusts.
July 9 1910.'
THE CHRONICLE
—The Commonwealth Bank of Richmond announces the
purchase of the Fulton and 25th Street branches of the
Bank of Richmond, which has consolidated with the National
Bank of Virginia.
The headquarters of the Commonwealth
is at 12 North 9th Street, and besides the branches
just
acquired it has another at 4 East Broad Street. The
institution began business on December 26 1906.
It has
$200,000 capital.
—Through the declaration on June 23 of a semi-annual
dividend of $3 per share, payable July 1, the stock of the
Portland Trust Co. of Oregon, at Portland, has been
placed
on a 6% basis.
The institution, of which Benj. I. Cohen is
President, had heretofore paid 4% per annum on its capital
of $300,000.
Southem
meeting on June 6 of the Quebec Bank,
head office Quebec, net profits of $278,927 for the
year
ending May 14 1910 were reported, comparing with $252,771
for the previous year.
The present year’s report shows
$318,598 available for distribution, there having been
$39,671 to the credit of profit and loss. The bank applied
$175,000 in dividends (at the rate of 7% per annum on its
capital of $2,500,000); set aside $5,000 for the pension fund
and $100,000 was written off bank premises account,
leaving
$38,598 to be carried forward. The deposits of the institu¬
tion amount to $10,064,023, while its resources
aggregate
$15,709,630. It has been decided to change the annual
meeting from the first Monday in June to the first Monday in
December.
John T.
Ross is
B. B. Stevenson is General
President of the
bank
June.
1910.
S
309,423,867
68,434,267
52,491,930
46,741,173
Galveston
25,217,500
Richmond
29,988,074
Atlanta
36,088,897
Fort Worth
25,752,192
Memphis
20,294,740
Savannah
15,982,141
Nashville
16,695,685
Norfolk
12,065,468
Birmingham
10,383,522
Jacksonville
10,098,794
Augusta
6,056,523
Knoxville
7,020,447
Chattanooga
7,780,231
Little Rock...
6,685,336
Mobile
5,627,462
Oklahoma
9,746,802
Charleston
5,378,286
Columbia
2,920,000
Macon
3,278,515
Austin
7,749,969
Beaumont
2,627,848
Guthrie
1,410,000
Columbus, Ga_
1,223,755
Wilm’t’n, N. C.
2,323,453
944,966
Vicksburg
Valdosta
500.000
Jackson, Miss.
1,800,000
Meridian*
1,071,677
.
..
...
..
..
_
..
..
Six Months.
Halifax
Hamilton
St. John.,
London
Calgary
Victoria
Edmonton
Regina
Brandon
Tot.
Inc. or
Dec.
1909.
177, 715,729
127, 631,604
69, 889,227
37, 092,464
i 15, 653,862
10, 465,913
8, 570,879
8, 352,026
6 498,846
5, 656,043
j 13 035,062
9 189,761
! 5 350,379
;
4 076.211
2 008,927
169,031,230
122,961,523
49,452,797
22,073,266,
14.469,862
10,561,793
7,967,233
7,205,713
5,735,582
5,386,457
8,113,535
6,452,175
4,443,481
+ 41.3
+ 68.0
+ 8.2
—0.9
+ 7.6
+ 15.9
+ 13.3
+ 5.0
+ 60.6
+ 42.4
+ 20.4
Not lncl. In
Not lncl. In
total.
total.
S
Quebec
'
1910.
%
1909.
Inc. or
Dec.
S
%
s
+ 5.1
+ 3.8
994,876,183
759,292,096
393,265,077
204,508,872
94,791.950
57,865,049
49,015,089
47,736,569
37,030,056
33,124,489
69,499,659
44,880,016
29,91'2,238
20,202,185
7,292,868
834,981,524
678,848,157
302,414,200
116,820,265
83,963,654
53,845,516
43,657,769
37,802,431
32,952,662
30,101,270
+ 19.1
+ 11.8
+ 30.0
+ 75.1
+ 12 9
+ 7.5
+ 12.3
+ 26.3
+ 12.4
+ 10.0
39,460,801 + 76.1
30,886,765 + 45.0
23,255,214 + 28.7
Not lncl. in total.
Not lncl. in total.
Canada 495,101,795 433,854,467 + 14.1 2,815,807,343
2,308,990,238 + 21.9
The
clearings” for the week ending July 2 make a very
satisfactory comparison with the same week of 1909, the in¬
crease in the
aggregate having been 31.4%.
Week ending July 2.
Clearings at—
.Inc.
1910.
Canada—
Montreal
Toronto
Vancouver
Ottawa
Quebec
.
Halifax
Hamilton
St. John..
London
_
..
.
.
:
Calgary
Victoria
Edmonton
1909.
cr
Dec.
1908.
S
S
%
38,850,000 29,904,806 + 29.9
2 >,215,343
25,144,706
+0.3
15,810,334
8,724,503 + 81.2
9,300,000
4,238,171 + 119.4
3,683,457
3,152,569 + 16.8
1,935,918
1,841,141
+ 5.1
2,030,000
1,178,394 + 72.4
1,745,388
1,436,708 + 21.5
1,446,896
1,024,927 + 41.2
1,111,806
—3.4
1,150,732
2,845,855
1,450,841 + 96.2
1,850,000
1,470,000 + 24.9
1,150,000
677,380 + 69.8
901,939 Not lncl. in total.
Not
lncl. in total.
399,960
Winnipeg
-
Regina
Brandon
Total Canada
_
_.
...
Tot. South’n 752,731,843 558,531,960
*
106,974,997
81,394,878
+31.4
1907.
$
St. Louis
New Orleans
Louisville
Houston
Galveston
Richmond
Atlanta
Fort WTorth
29,957,478
64,101,964
86,007,277
26,215,529
12,379,324
3,252,771
2,589,065
2,223,816
2,000,000
1,69S,236
1,107,748
1,559,489
1,260,549
1,057.207
706,065
usually appears on the first page of each issue, but on account
of the length of the other tables is crowded out once a month.
The figures are received by
telegraph fromother leading cities.
Memphis
.
Birmingham
Jacksonville
Augusta...
Knoxville
Chattanooga
Little Rock
Mobile
Oklahoma
Charleston
Columbia
Macon
.
.
1909.
S
S
Austin
Beaumont
Guthrie
Inc. or
Dec.
1908.
%
5,426,774
4,651,687
3,133,740
3,391,278
2,576;223
1,939,211
1,514,986
1,182,452
1,692,103
1,112,954
1,499,067
1,487,907
1,400,000
1,047,000
+ 16.4
+ 3.6
—5.C
+ 12.6
+ 11.8
+ 14.8
+ 42.6
+ 0 05
—3.6
+ 34.7
+ 12.0
1907.
S
$
53,885,108
10.037,295
8,000,000
4,683,000
6,100,006
3,157,446
4.146,010
3,648,072
2,241,680
2,838,811
2,008,459
1,685,990
1,179,665
628,641
1,191,681
1,166,325
—1.5
+ 22.2
+ 54.8
+24.4
—10.0
+ 55.5
'
58,443,351
17,271,358
14,122,499
8,778‘337
5,379,000
6,346,758
4.270,199
3,063,968
5,002,763
2,825,860
3,800,000
2,364,472
2,438,715
1,621,924
10.161.567
—5.3
+ 57.1
~f- b .5
1,109,114
1,245,736
1,556,142
1,438,177
1,297,317
1,419,275
802,591
1,090,000
550,000 +22.7
524,062 + 183.2
540,000
+ 6.5
546,228
625,000
310,995
438,514
411,776
] 1.9
—
939,041
691,553
850,294
_
.
Columbus, Ga_._
W’ilmington.N.C.
Vicksburg
Valdosta
Jackson
Meridian
ending July 2.
63,619,624
17,408,028
13,299,864
10.705,716
5,583,000
6,161,000
6,058,874
675,000
1,500,000
575,000
....
369,925
197,166
286,266
+ 29.2
221,405
—10.9
300,000
225,000
260,000
209,611
+ 15.2
+ 7.3
178,5S7,733
157,512,828
+ 13 4
..
200,000
214,165
350,000
122,056,604
145,965,918
.
.
_
_
_
Total Southern
Our usual monthly detailed statement of transactions on
the New York Stock Exchange is
appended. The results
for the six months of 1910 and 1909 are
given below:
Six Months 1910.
Six Months 1909
Descrip¬
tion.
Par Value
or
Actual
Value.
Quanity.
Aver.
Price
Par Value
or
Actual
Value.
Quantity.
Aver.
Price
StocklSh’s.
97,840,941
99,136,372
JVal. $8,803,127,825 $8,618,506,987 97.9 $9,071,796,425 $8,682,125,853 95.7
$340,832,500 $330,662,429 97.0 $703,766,400 $674,447,669 95.8
RR. bonds
Gov’t bds,
State bds.Bank stks.
Total
$235,500
$27,196,700
$761,400
$252,306 107.1
$27,115,494 99.7
$1,643,011 215.8
$200,700
$21,597,200
$48,25.
$205,987 103.0
$21,663,784 100.3
$126,276 231.7
$9,172,153,925 $8,978,180,227 97.9 $9,797,4J8,975 $9,378,569,569
95.7
The volume of transactions in share
properties on the
New York Stock Exchange each month since Jan. 1 in 1910
and 1909 is indicated in the following:
SALES OF STOCK AT THE NEW YORK STOCK EXCHANGE.
1910.
M'th.
Number
1909.
Per Cl.
1909.
Values.
Number
of
Values.
of
Shares.
Par.
Actual.
$
$
Clearings—Returns by Telegraph.
1910.
+ 15.3
*
Clearings by Telegraph—Sales of Stocks, Bonds, &c.—
subjoined table, covering clearings for the current week,
ending July 9.
1910.
74,106,516
18,036,330
12,631,162
12,058,678
6,243,500
7,075,637
8,638,628
5,429,633
4,483,809
4,220,416
3,799,187
2,536,335
2,369,556
2,344,940
1,470,275
.1,524,951
1,730,400
1,320,808
1,409,289
2,200,000
1,115,592
Savannah
Nashville
Norfolk
The
Week
+ 10.2 4,885,631,356 1,220,024,966
at—
?
22,652,589
18,945,945
8,037,711
2,949,628
2,348,358
1,695,353
1,468,647
1,375,770
934,963
1,233,SOS
923,967
970,496
564,729
1
Inc. or
Dec■
1909.
Not included in total; comparison Incomplete.
..
June. 6
Winnipeg
.
.
clearings of the Canadian
Clearings at—
Vancouver
Ottawa
.
1910.
S
S
%
$
%
268,719,046 + 15.1 1,857,828,471 1,640,274,227 + 13.3
62,863,320
+ 8.9
492,662,901
475,530,147 + 18.6
51,371,727
+ 2.2
353,977,000 332,523,964
+ 6.5
44,535,969
+ 5.0
320,095,730 332,569,324
—3.7
22,343,500 + 12.9
166,323,500
160,163,001
+ 3.8
28,677,044
+ 4.6
196,956,581
170,007,332 + 15.8
27,497,754 + 31.2 266,793,268
146,295,69c + 82.4
22,783,919 + 13.0
168,062,440 159,160,891
+ 5.6
18,119,740 + 12.0
157,704,055 132,365,156 + 19.3
11,903,501 + 34.3
104,613,596
89.721,754 + 16.6
15,521,315
+7.6
101,013,995
95,541,078
+ 5.8
11,361,856
+ 6.2
73,151,958
66,616,701
+ 9.&
7,705,559 + 34.8
64,325,729
50,358,016 + 27.7
7,234,551 +39.6
62,326,333
45,038,318 + 38.4?
5,504,553 + 10.0
48,672,363
43,113,791 + 12.1>
6,131,692 + 14.5
42,486,818
38,604,122 + 10.1
5,966,743 + 30.4
44,692,246
37,633,376 + 18.8
6,236,079
+7.2
43,529,517
40,486,706.
+ 7.5
5,070,365 + 11.0
37,301,480
33,767,210 + 10.5
7,511,890 + 29.7
58,691.690
38,868,584 + 51.0
4,656,871 + 15.5
42,525,974
34,372,94- + 23.7
2,653,681 + 10.1
21,4 35,350
18,231,44c + 17.6
2,701,800 + 21.4
25,205,637
19,G85,59i + 28.0
2,438,884 +217.8
42,572,432
17,201,781 + 147.5
2,450,000
+ 6.8
16,492,953
15,020,24:
+ 9.8
1,171,200 + 20.4
9,146,959
7,411,631 + 234
1,221,263
+ 0.2
9,076,638
8,737,711
+3.9
1,512,685 + 53.6
13,841,641
9,129,828 + 51.6
913,153
+ 3.5
7,739,490
8,092,403
—4.4
426,254 + 17.3
4,078,571
3,395,03c +20.1
1,326,046 +35.7
12,326.640
10,108,972 + 21.9
869,230 + 23.2
7,799,412
4,178,921
Week
gain reaches 21.9%.
Canada—
Montreal
Toronto
_
..
Clearings
banks for the month of June 1910 show an increase over the
same month of 1909 of
14.1% and for the six months the
1910.
Six Months.
Inc. or
Dec.
1909.
St. Louis
New Orleans..
Louisville
Houston
page.
and
Manager.
Canadian Bank Clearings.—The
Clearings brought forward from first
Clearings at—
..
—At the annual
73
Shares.
Par.
Actual.
$
$
Jan
24,538,649 fi,255,816,775 2,236,641,564 17,275,500 1,609,551,575 1,550,409,801
Feb
16,012,626 1,423,073,275 1,407,743,928 12,337,199 1,142,192,700 1,082,075,181
Mch. 14,988,179 1,336,803,725 1,327,476,419
.
New York
Boston
Philadelphia
SI,352,874,065
..
_
_.
.
Baltimore.
Chicago
St. Louis
.
_
New OrleansT
Seven cities', 5
Other cities, 5
,
.
days:..G.*j ‘^li,877,087*017'
daj^Tr_..^7Tr^.
Total all cities^5 da ye.
All cities, 1,day.
f
i} l \ »'V" f 7 '
Total all cities for week.
.
j*jiu^„l._•+
SI,263,516,071
107,869,912
88,430,922
19,265,248
188,642,565
44.477,066
13,049,175
122,953,552
113,487,567
24,754,800
201,985,900
52,534,160
8,496,973
f
.;
,415,926,018.
&2,293,013,035;;
SI,725,250,959
*
352,4.97,869
+ 7.0
+ 14.0
+28.3
+ 28.5
+ 7.1
+ 18.1
—34.9
+ 8.8
+ 18.0
576,178,927
545,724,090
+ 13.5
+ 5.6
82,869,191,962
S2,623,472,918
+ 9.4
S2,077,748;82&
.
13,650,595 1.240,583,900 1,175,469,766
lstqr 55.539,454 5,015,693,775 4,971,861,911 43,263,294 3,992,328,175 3,807,954,748
April 14,089,639 1.279,487,675 1,256,488,974 19,055,618 1,719,193,800 1,647,943,217
May 11,918,978 1,055,491,350 1,004,681,480 16.495.230 1,478,017,600 1,410,748,914
June 16,292,870 1,452,455,025 1,385,474,622 20.322.230
1,882,256,850 1,815,478:974
2d qr
42,301,4fe7j3,787.434,0503,646,645,07655,873,078
5,079,468.250'4,874.171,105
L
l
1
.
6" m’s 97’,8^0,94l|8;803,l27,825
•
i\
.
..
1
8,618)506,987 99,136,372j9,071,796,425 8,682!l25,85^
•••
1
•••;,
.
•
.u-in'i
-
The following
since Jan. 1:
compilation
covers
the clearings by months
MONTHLY CLEARINGS.
Clearings Outside New York.
Clearings, Total AU.
Month.
__
1st qr.
%
1909.
1910.
Jan
Feb
Mch
1
$
$
17,143.348.295 14,052,390,538 + 22.0
13,111,985,258 11.260.311.084 + 16.4
15,021.382,183 12.623.772,489 + 19.0
1910.
1909.
$
$
5.894,272,314
4,960,845,197
5,975,198,570
%
5,168,090,843 + 14.0
4,372,605.760 + 13.4
5,136.934,369 + 16.3
+ 14.7
45,276,715.736 37.936,474.111 + 19.3 16.830,315,081 14,677.630,972
14,014.994,640 13.692,120.791
April
May_. 13,147,7(i0,447 13,006,573.040
.
+ 2.3
+ 1.4
—2.4
5.673.333.468
5,310.70,8-0
5,077,392,114 + 11.3
4,910,322,648
5,043,660,966
+ 8.8
16.459.873.827 15,031,375,728
+9.5
5.449.749.469
+8.0
June..
13,810.070,581 14,155.364,270
2d qr.
40,972,825,668 40,854,058,101
+ 0.3
86,249.541.404 78.790.532,212
+ 9.5 33,290.188,908 29,709,006,700 + 12.1
6
mos.
[VOL.
THE CHRONICLE
74
The course of bank clearings at leading cities of the country
for the month of June and since January 1 in each of thelast
four vears is shown in the subjoined statement:
BANK CLEARINGS AT LEADING CITIES.
.June
Jan. 1 to June 30
(000,000s
omitted.)
New York
Chicago
.
.
Boston
.
Philadelphia
.
St. Louis
.
San Francisco
Cincinnati
Baltimore
Kansas City
Cleveland
New Orleans
.
.
.
.
Minneapolis
Louisville
Detroit
Milwaukee
Los Angeles
Providence
Omaha
Buffalo
St. Paul
$
9,112
1,187
41
50
39
40
30
20
49
18
28
Indianapolis
Denver
Richmond
Memphis
Seattle
Hartford
Salt Lake City...
Total
Other cities
1909.
t
8,364
1,182
635
681
309
231
191
101
132
202
84
68
85
52
79
54
69
32
68
.
Pittsburgh
1910.
660
574
269
199
160
115
119
181
72
63
75
51
63
49
58
30
62
39
40
35
40
29
18
48
16
30
.12,934 13,394
.
867
761
Total all
.13.810 14,155
5,043
Outside New York 5,446
1908.
$
1907.
5
1910.
$
1909.
S
1908.
$
1907.
§
5,654
6,369
1,030
52,959
7,130
4,252
3,926
1,858
1,306
1,122
49,082
6,779
4,174
3,283
1,640
1,096
34,959
5,744
3,487
2,886
1,473
1,031
633
774
919
673
697
1,295
1,123
817
607
592
837
362
395
477
285
333
259
244
160
295
198
230
179
190
47,903
6,312
4,381
3,734
1,597
1,423
1,155
953
564
483
241
170
137
99
102
122
643
607
258
239
169
115
124
126
76
67
105
53
•
82
112
715
747
792
444
493
526
343
350
277
326
202
283
218
223
208
197
160
123
240
97
151
74,238
4,553
56,693
3,787
73.520
4,093
78,791
29,709
60,480
25,521
487
493
527
354
460
324
407
203
428
248
279
229
243
197
158
301
114
166
401
416
425
334
352
289
324
186
361
321
228
202
226
170
133
255
93
156
653
80,873
5,377
9,848 11,135
4,194 4,766
86,250
33.291
60
53
72
46
56
46
42
27
48
33
38
34
35
24
20
36
13
23
61
45
49
31
48
35
38
35
33
25
16
43
16
26
9,231 10,482
617
144
125
190
•
77,613
29,710
ptonetaygl Cgmttxcrcial^rtaltsltpimg
ceedingly little fall in securities outside of the American de¬
partment. American prices, of course, fell in accordance
with the fall in New York.
The City generally assumes that
the worst is over in New York, though it was somewhat dis¬
appointed by the further setback yesterday evening. If,
however, the worst is now over, the expectation is that we
shall see an increase of activity in London and a broadening
of markets.
The Chancellor of the Exchequer in his Budget
speech on Thursday stated that practically the income tax
arrears have now been all got in and that, indeed, all the ar¬
rears of last year have been got in except those new taxes
in whose case the machinery for collection has not been com¬
pleted. That being so, the Bank of England will very soon
now lose control of the open market.
The very large pay¬
ments for foreign governments and foreign companies re¬
ferred to above have largely increased the supplies in the
open market.
On Tuesday, the interest on the national debt
will be paid, and throughout the month of July Treasury bills
borrowed to finance the Government while last year’s ar¬
rears were outstanding will be redeemed.
Money, conse¬
quently, will become exceedingly cheap and abundant, and
as the confidence in peace is great, as trade is rapidly re¬
viving and as there is practically no speculation in London,
there is a very confident belief that we are about to see much
better business on the Stock Exchange than for a long time
past.
The Chancellor of the Exchequer introduced his Budget for
the current financial year on Thursday.
He imposes no new
taxes, and he remits no tax put on last year. Practically,
it is last year’s Budget except that permanent provision is
made for technical education, and old-age pensions are ma¬
terially increased. The expenditure of the year is estimated
by him at £171,857,000; but arrears on last year’s accounts
raise the total sum to be provided for to £198,930,000. The
Chancellor of the Exchequer, without putting on any new
tax, estimates that the revenue of the year will amount to
£199,791,000, showing an estimated surplus of £861,000.
The India Council offered for tender on Wednesday 40 lacs
of its bills and the applications amounted to 430 lacs, at
prices ranging from Is. 3 15-16d. to Is. 4d. per rupee. Ap¬
plicants for bills at Is. 3 31-32d. and for telegraphic transfers
London was taken by surprise by the heavy fall in prices
that occurred in New York on Wednesday and Thursday of
this week.
It had been prepared for the gradual shrinkage
of quotations that took place previously, and it
not
have been surprised if the decline had continued for some
time longer.
But the severe break of the middle of this
would
it quite unawares. It did not, however,
cause much loss.
Owing to the constitutional crisis, the
death of King Edward and the collection of the arrears of
last year’s taxes, operators in London had feared to speculate
on any great scale.
Consequently, there is at present very
little stock being carried over in the market, notwithstand¬
ing the rubber and the oil booms. These booms, especially
the rubber boom, are quite peculiar.
The rubber boom
originated with the merchants interested in the rubber
trade, and there was a market for rubber securities in Mincing
Lane, the headquarters of the trade, before they were dealt
in upon the Stock Exchange.
The Mincing Lane market is
quite active still. It is said by the well-informed that the
dealings of Mincing Lane have been much more with the
United States, India and the countries where rubber is pro¬
duced than with the ordinary English speculative public.
The oil boom, again, though it has made two or three prom¬
ising starts, has never attained to great dimensions. These
two booms, then, have affected the Stock Exchange much
less than might be supposed by persons resident at a distance
from London.
Speculation in other departments, as we
have said, has been held in check by political considerations.
How very strong, indeed, the stock markets are is proved by
the fact that the fall in New York occurred at one of the most
trying periods in the whole year for the London Stock Ex¬
change, that is, in the very last week of the first half of the
year, and at a time, moreover, when the Bank of England
had complete control of the outside market.
Immense sums,
had to be paid in London during the week.
The Messrs.
Rothschild alone redeemed on the 1st of July, for the Bra¬
zilian Government, bonds exceeding two millions sterling,
and they redeemed other debt for other governments, rais¬
ing the total to considerably more than three millions ster¬
ling. These figures are given only as a specimen of what has
been taking place during the week.
Moreover, the last
Stock Exchange settlement of the half-year began for mines
on Friday of last week and for other securities on Monday of
this week, and ended only on Wednesday night.
Fortunately for the operators in American securities, the
making up in them took place on Monday, that is, before the
really heavy fall occurred. Consequently the differences to
be paid on Wednesday were much smaller than they would
have been if the making up had taken place on Wednesday.
Still, it is noteworthy of the smallness of the speculative
account open in London at present that there has been exweek
came
upon
allotted about 13% of the amounts
at Is. 4d. per rupee were
applied for.
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of consols,
&c., compared with the last four years:
(From our own correspondent.]
London, Saturday, July 2 1910.
LXXXXI
Circulation
Public deposits
Other deposits
Governm't securities
Other securities
Reserve, notes &coi n
-
-
1910.
1909.
1908.
1907.
1906.
June 29£
June 30.
£
July 1.
July 3.
Jtdy 4.
29,976,265
9,648,021
51,197,083
15,231,766
36,347,819
27,081,128
38,607,393
29,977,930
10,079,515
51,616,497
15,084,520
40,892,378
23,680,981
35,208,911
44%
2%
38%
82%
41%
2%
84%
84%
24 ll-16d.
24d.
88
24 ll-16d.
17,973,939
42,832,163
32,149,301
Coin&bull.,both dep 42,396,351
Prop, reserve to liabllities
Bank rate,-,
42%
p. c.
p. c.
3
Consols, 2)1 p. C-.Silver
Clear .-house returns
87 11-16
30d.
31d.
_.
-
_
—3 months
—4 months
—6 months
3
Trade bills—3 months
—4 months
Interest allowed for deposits—
By joint-stock banks
By discount houses:
At call
7 to 14 days
:
Brussels
;
Vienna
St. Petersburg
Madrid
1%
1%
1%
1%
1%
1%
2
2
2
2%
2%
2%
June 18.
Oven
—
Bank
Open
Rale. Market.
2%
3%
3%
3%
4)4
2%
3%
2%
3%
3
4
4
4
5
4%
4
3%
3 7-16
4)4
2%
3%
5
4)1
nom.
4
5
4
5
4
nom.
3
and open market rates at the
been as follows:
4%
5
2%@2%
2%<3>2%
2%@2%
2%@2%
3@3%
Rate. Market.
Hamburg
Frankfort
Amsterdam
2%
2%
2%
3(353 %
3% @3%
June 25.
3
4
4
4
5
4%
4
2%
2%
2%
2%
The bank rates of discount
chief Continental cities have
Bank
3
3
2 3-16
2 1-16@2 %
2 1-16(3)2 %
1%
1%
1%
2%
2%@2%
2% @2%
.
June 10.
June 17.
June 24.
July 1.
3
Open Market rate—
Bank bills—60 days
The
41%
3%
4
have been as follows:
Bank of England rate
Copenhagen
30,280,620
12,093,255
48,369,459
16,977,133
36,547,195
24,968,889
36,799,509
300,052,000 320,837,000 302,520,000 321,762,000 324,878,000
The rates for money
Rates of
Interest at—
Paris
Berlin.
£
£
£
30,209,960
12,312,452
58,493,837
15,368,812
43,811,904
29,313,222
41,073,202
28,697,050
24,681,969
50,460,630
4
June A.
June 11.
Bank
Open
Rate. Market.
3
2%
4
3%
4
3%
4
3%
5
3%
4)1
2%
3 9-16
4
5
nom.
4)1
3)1
5
Bank
Open
Rate. Market.
3
2%
4
3%
4
3%
3%
4
4
5
4%
4
3%
2%
3)1
5
nom.
5
4
4)1
4
quotations for bullion are reported as follows:
June 30.
GOLD.
London Standard.
s. d.
Bar gold, fine, oz
77 9
U. S. gold coin, oz
76 5
German gold coin, oz._ 76 5
French gold coin, oz.. 76 5
76 4
Japanese yen
Messrs.
June 23. |
s. d. |
77 9
76 5
76 5
76 5
76 4
Pixley & Abell
SILVER.
June 30. June 23.
London Standard.
d.
d.
| Bar silver, fine, oz
24 11-16 24)4
j “ 2 mo. delivery, oz.24%
24%
| Cake silver, oz
| Mexican dollars
|
write as follows,
GOLD.—The arrivals this week amounted
£40,000, and of the balance the Continent will
26%
26 11-16
nom.
nom.
June 30:
to £870,000, India required only
take about £150,000 and the Bank
England should secure the remainder. Since our last the Bank has received
£319,000 in bars, £16,000 in sovereigns from Australia and £34,000 in sovereigns
from Egypt, while £150,000 in sovereigns has been withdrawn for South Africa.
Next week we expect £687,000 from South Africa and £103,000 from India.
Ar¬
of
rivals—South Africa, £800,400; West Africa, £65,000; West Indies, £12,000; total,
£877,400.
Shipments—Bombay, £31,000.
SILVER.—The market shows very little change from last week and prices have
fluctuated between 24 %d. and 24 ll-16d.
The demand has come almost entirely
partly for shipment and partly for speculative account; the volume of
attracting increased attention and causes some uneasiness. The upcountry absorption, which is the real measure of the legitimate demand, shows no
increase, and amounts only to a dally offtake of about £5,000.
Stocks In Bombay
show a decrease of 800 bars, chiefly on requirements for the end of June settlement,
but the total held Is still over £1,000,000.
Shipments to India this week are ex¬
pected to be heavy, and spot silver In consequence is still the better market of the
two and commands a premium of 1-16d.
The total lying in London is estimated
at nearly £1,700,000, but the Indian shipment will considerably reduce this amount.
Conditions in China show no improvement and exchange is still 1 % % below silver
from India,
the latter is
July 9
1910.J
parity; their operations here have been unimportant, but It is reported that they have
sold In India.
The price In India Is Rs. 63 3-16 per 100 tolahs.
Arrivals—New
York, £210,000; Mexico, £10,000; West Indies, £5,000; total, £225,000.
Shipments
—Port Said, £1,400.
The following shows the imports of cereal produce into
the United Kingdom during the season to date, compared
with previous seasons:
IMPORTS.
Forty-three weeks—
Imports of wheat
Barley
1909-10.
cwt_85,054,540
...19,864,000
16,498,800
2,004,896
1,929,321
29,203,058
9,656,151
Peas
Oats
Beans
Indiancorn
Flour
1908-09.
73,561,000
18,924,300
12,100,800
1,295,580
1,038,580
29,726,300
9,614,000
1907-08.
78,661,950
18,571,786
10,480,699
1,289,170
871,830
33,190,357
11,915,400
1906-07.
75,539,052
17,958,934
8,648,614
1,493,520
380,670
39,960,970
11,336,472
Supplies available for consumption (exclusive of stock
Sept. 1):
1909-10.
Wheat
Imported
Imports of flour...
Sales of home-grown..
1908-09.
_.cwt_85,054,540
9,656,151
73,561,000
9,614,000
24,584,513
25,147,696
Average price wheat, week
Average price, season
The following shows the quantities
maize afloat to the United Kingdom:
Wheat
Flour, equal to
Maize.
qrs.
qrs.
qrs.
_
March
"
of wheat, flour and
This week.
Last week.
2,930,000
115,000
670.000
3.140,000
130,000
620,000
1909.
1910.
1909.
£
55,921,154
51,158,357
58,120,393
£
53,500,364
50.468,143
52,013,465
1908.
2,640,000
110,000
955,000
as
2,200,000
155,000
580,000
follows:
Difference.
Per
Cent.
4-4.5
4-1.3
’£
4-2,420,790
4-690,214
+ 6,106,928
59,555,459
49,173,762
+10,381,697
+11.7
+22.0
224,715,846
205,113,660
+19,602,186
+9.6
-
Four months
The
1906-07.
78,661,950 75,539,052
11,915,400 .11,336,472
30,580,205 33,026,848
imports since Jan. 1 have been
Imports—
January
February
April
1907-08.
on
119,295,204 108,322,696 121,157,555 119,902,372
29s. 4d.
42s. 8d.
31s. 5d.
31s. 4d.
33s. 2d.
32s. 8d.
35s. 2d.
27s. Id.
Total
The British
99..77965——TThhee
999...8770218———TTThhheee
THE CHRONICLE
IS
First National Bank of Vacaville, California.
Capital, $50,000.
T. H. Buckingham, President; S. P.
Dobbins, Vice-President; Har¬
low M. Plimpton, Cashier.
First National Bank of Coleridge, Nebraska.
F
A
McCor-
nack, President; J. W. LInkhart, Vice-President; Geo. I.
Parker,
Cashier; C. R. Applegate and G. L. Watson, Assistant Cashiers.
Burns National Bank of Durango, Colorado.
Capital, $100,000.
T. D. Burns, President; Thos. H. Kelley and
Monroe Fields.
Vice-Presidents; J. R. C. Tyler, Cashier.
Dexte r Horton National Bank of Seattle, Washington.
Capi¬
tal, $1,000,000.
N. H. Latimer, President; R. H. Denny, VicePresident; M. W. Peterson, Cashier; G. F. Clark, H. L.
Merritt,
C. E. Burnside, Assistant Cashiers.
Conversion of “Dexter, Hor¬
ton & Co., Bankers.’’
Neffs National Bank, Neffs, Ohio.
Capital, $25,000.
Frank¬
lin Neff, President; Alexander Neff, Vice-President.
First National Bank of San Leandro, California.
Capital,
$50,000.
L. C. Morehouse, President; A. B. Cary, Vice-President;
Chas. H. Hale, Cashier.
Farmers’ National*Bank of Ponca City, Oklahoma.
Capital,
$50,000.
(Conversion of The Farmers’ State Bank.)
Third National Bank of Plainview, Texas.
Capital, $100,000.
J. E. Lancaster, President; L. G. Wilson and L. A.
Knight, VicePresidents; H. M. Burch, Cashier; H. C. von Struve, Assistant
Cashier.
CHANGE OF CORPORATE TITLE.
3,244—The People’s National Bank of Sandy Hill, N. Y., to The
People’s
National Bank of Hudson Falls, N. Y.. to conform to
change in
of
name
place of location.
9,270—The Musselshell Valley National Bank of Harlowton,
Montana,
Into “The First National Bank of Harlowton.’’
LIQUIDATION.
8,339- -The National Bank of Norton, Kansas, was placed in
voluntary
liquidation on June 21 1910.
Auction Sales.—Among other securities the
following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Stocks.
22 Dossert &Co...
259 6-100 Florida Land
ment Co.
Bonds.
10
&
$1,000 Chic. Hammond & West. RR.H
1st 6s, 1927, J. & J
Develop¬
115)4 & int,
$5,000 lot $7,000 Consumers’ Albany (N. Y.)
Brew. Co. 5s, 1925, J.&J_$3,325& int.
exports since Jan. 1 have been as follows:
1910.
1909.
£
34,803,115
Difference.
March
34,391,558
£
28,803,046
28,024,452
31,904,673
April
35.292,215
28,958,458
£
+6,000,069
+3,667,418
+2,486,885
+ 6,333,757
136,178,758
117,690,629
+18,488,129
Exports—
January
February
31,691.870
-
Four months
Per
Cent
+20 8
+13.0
+8.9
+ 21.9
+15.7
DIVIDENDS.
The
following shows all the dividends announced
by large or important corporations:
future
Dividends announced this week
Per
Cent.
Name of Company.
show the
following contrast:
1910.
Re-exports—
January
February
1909.
Difference.
March
£
8,147,164
10.184.560
8,443,988
£
6,687,551
8,473,634
7,540,319
April
11,858,654
8,631,006
^
38,634,366
Four months
31,332,315
Per
£
Cent
+1,459,613
+1,710,926
+903,669
+3,227,648
+21.8
+20.0
+12.1
+37.4
+7,302,051
Note.—The aggregate figures are official.
They Indicate that slight
have been made in the monthly returns as issued.
+23.3
adjustments
English Financial Markets—Per Cable.
daily closing quotations for securities, <fcc., at London,
reported by cable, have been as follows the past week:
The
as
London,
Week ending July 8.
Silver, per oz
d
Consols, new, 2)4 per cents.
For account
French Rentes (in Parts)._fr
Mon.
24 M
82 5-16
82 7-16
Sat.
•
24)4
-
97.97)4 97.95
62 K
Amalgamated Copper Co... 63 *4
5 Anaconda Mining Co. —
8
8
Atch. Topeka & Santa Fe.. 99 H
100
Preferred
102
101+2
112
Baltimore & Ohio...
no x
Preferred
Canadian Pacific
194
194 24
.
■
..
.
76 )4
Chesapeake & Ohio—
25
Chicago Great Western.
Chicago Milwaukee & St. P. 122
...
Denver & Rio Grande..
Preferred
Erie
■
43
33
Illinois Central
133
Louisville & Nashville-.
148
Missouri Kansas & Texas— 34 H
Preferred
Nat. RR. of Mex., 1st pref-Second preferredN. Y. Central & Hudson Riv.117
N. Y. Ontario & Western... 43
Norfolk & Western
100)4
Preferred
Northern Pacific
a Pennsylvania.
67
a Reading
75
a First preferred
a Second preferred
117
Southern Pacific.—
23 %
Southern Ry
Preferred
57
Union Pacific
166 34
94
Preferred
75
U. S. Steel Corporation..
Preferred.
118+8
17 )4
Wabash
Preferred
38)4
Extended 4s
First
preferred..
Second preferred
—
—
..
-
-
-
--
118
43 H
100 )4
92
—
67
75)4
a
Price per share,
32
72
25
%
42)4
32
133
147)4
35 X
67)4
68
27
117
4334
101
92
12234
6634
74)4
46
49
-
..
193
120)4
35
—
111)4
9134
25
133)4
148 H
-
8
97 H
102
7634
42
33
—
6324
25)4
32)4
73 X
26)4
72)4
26 H
82 H
82 X
97.95
76 24
123
32
—
Tries.
2424
11624
24 X
58
166)4
94 M
74 %
119
115H
24 )4
58
163)4
93)4
72
118
17*4
1724
39
38
—
6734
Wed.
24 5-16
82 1-16
Thurs.
25 3-16
Fri.
2524
82 1-61
82)4
82 3-16
82J4
97.40
97.5234
59 24
61
7 24
724
96
98)4
102
101)4
111
109 24
9134
91)4
193)4
19134
75
75)4
24)4
24)4
10134
10234
110)4
9134
194)4
7524
24 )4
119
125
122
82)4
97.40
6124
7
24
30)4
31)4
71
72
72
2534
25)4
25)4
42
33
132
144 34
3224
67
69
27 24
115
43)4
99)4
92
120
65)4
42
33
133
43
33
134
145)4
146)4
33 34
6634
69)4
33
67
69)4
28
11634
43 24
9924
92
12124
66
72)4
7324
45)4
45
48
48
11334
23)4
57)4
160*4
92
69)4
117
17
36
66)4
81)4
28
117
44)4
101
92
122
66)4
74)4
45
116)4
23)4
4834
11734
2224
55
56
164*4
92
7234
118
166)4
92)4
73)4
11834
17 34
17
36
3634
6634
67
b £ Sterling.
Commercial and RSdsteXlanrons 3Xctus
National Banks.—The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
APPLICATION
TO
CONVERT INTO
APPROVED.
NATIONAL
BANK
The Flathead Valley State Bank of Ronan, Montana, into “The First
National Bank of Ronan.’’
NATIONAL BANKS ORGANIZED.
June 22 to June 2.9.
Railroads (Steam).
Alabama Great Southern, preferred
Atchison Top. & SantaFe, com. (No. 21).
Preferred (No. 24)
Atlantic Coast Line RR., common
Bangor & Aroostook
Boston & Maine, common (quar.)._•
Preferred
3
2
2
2
334
1)4
2
2)4
234
3
2
2 24
1
124
334
)4
2
common
Kansas City Southern, pref. (quar.)
Lake Shore & Michigan Southern
Guarant’d stk. (Mich. So. & Nor.Ind.)
Lehigh Valley,
Oct.
1)4
Prior Hen and participating stock
Chic. Milw. & St. Paid, common & pref._
Clev. Cine. Chic. & St. Louis, pref. (qu.)
Cuba RR., preferred
Delaware Lackawanna «fe Western (quar.)
Denver <fc Rio Grande, preferred
East Pennsylvania.
Fonda Johnstown & Gloversville, com..
Georgia RR. & Banking (quar.)
Granite Railway (No. 74)
Great Northern (quar.)
Harrisburg Ports. Mt. Joy & Lancaster.
Extra
common
Preferred
Little Schuylkill Nav., RR. & Coal
Louisville & Nashville
6
6
3
5,
3
Minn. St. P. & S. S. M., leased lines
National Railways of Mexico, 1st pref...
N. Y. Cent. & Hudson River (quar.)
N. Y. Ontario & Western, common
Norfolk & Western, preferred (quar.)..
Northern Central
Northern Pacific (quar.)
Pitts. Cin. Ch. & St. L., com. & pf.(qu.)
Pittsburgh & Lake Erie
Reading Company, common
First preferred
St. Louis & San Fran., 1st pref. (quar.)..
St. Louis Southwestern, preferred
Texas Central, preferred
Toledo St. Louis & Western, pref. (quar.)
United N. J. RR/& Canal, guar, (quar.)
Western Maryland, preferred (quar.)
White Pass & Yukon
Street and Electric Railways.
Athens Electric Ry., common & pref
Auburn & Syrac. El. RR., pref. (quar.)
Aurora Elgin & Chic. RR., com. (qu.)..
Preferred (quar.).
Boston & Northern Street Ry., pref
Boston Suburban Elec. Cos., pref. (quar.)
Sept.
Aug.
Aug.
July
July
Sept.
July
Aug.
July
July
July
July
July
July
Aug.
July
July
July
July
July
Aug.
3)4
Mahoning Coal RR., common
Michigan Central
Mine Hill <fc Schuylkill Haven...
Books Closed.
Days Inclusive.
1)4
3
Chicago & Alton, preferred
When
Payable.
2
3
__
printed in italics.
Aug.
Sept.
Aug.
July
July
134
2)4
Canada Southern
Central of New Jersey (quar.)
Hocking Valley,
are
10
3
3
2
2
July
July
July
Aug.
Aug.
July
July
Oct.
If
Aug.
July
Aug.
Aug.
July
Aug.
July
Aug.
Aug.
Sept.
Aug.
July
July
July
July
July
July
3
June
134
2
1
4
124
1)4
5
3
2
1
234
2)4
1
2)4
1
July
July
July
3
Aug.
$1
July
Brooklyn City RR. (quar.)
2
July
Cin. Newp.&
134 July
Cov.Lt.&Tr.,com.&pf.(qu.)
Consolidated Traction of New Jersey
2
July
East St. Louis & Sub.,pref .(qu.) (No.
17).
134 Aug.
El Paso Electric Co., pref. (No. 15)
3
July
Fort Smith Light & Tract., pref.
(quar.).
1)4 July
Gary & lnterurban Ry. (No. 1)
1
July
Indianapolis Traction & Terminal
1
July
Jacksonville Electric Co., com. (No. 12).
334 Aug.
Preferred (No. 16)
3
Aug.
Lewis. Aug. & Waterv., pref. (qu.) (No. 1)
134 Aug.
Manchester Traction, Light & Power
2
July
Mexico Tramways (quar.)
124 Aug.
New Orleans City RR., common
$1
July
Preferred
$2 50 July
Northwestern Elev., Chicago, pref. (qu.)
1
July
Old Colony Street Ry., preferred
3
Aug.
Ottawa Electric Ry. (quar.)
234 July
Ottumwa Ry. <fc Light, pref. (quar.)
124 July
Pacific Coast Power, common (No. 5)..
2)4 July
Philadelphia Company, common (quar.).
134 Aug.
Common (extra)
345 Aug.
Railway & Light Securities, common
2
Aug.
134
24
1)4
.
9 ’ 794—The Solomon
f. Hageman,
National Bank, Solomon, Kansas. Capital, $25,000,
President; Fred. F. Eberhardt, Vice-President; M. D.
Sampson Jr., Cashier; T. T. RIordan, Assistant Cashier.
Preferred
Rio de Janciro Tram. ,L. & Poio. (quar.)_
St. Charles Street RR., New Orleans
_
3
Aug.
D4
Aug.
July
$3
for the
29 Holders of rec.
1 Holders of rec.
1 Holders of rec.
11 June 23
to
12 July 10
to
1 Holders of rec.
1 Holders of rec.
1 Holders of rec.
1 Holders of rec.
15
15
1
20
Holders of
Holders of
rec.
Juiy23a
July29a
June30a
July 11
July 13
Sept, la
Aug. 15a
June3Ca
July 19a
June30a
June30a
Aug. 19 to
Sept. 26
Holders of rec. June24a
1 Holders of rec. June30a
20 Holders of rec. July 5a
15 June 25
to
July
5
19 Holders of rec. July 9a
20 Holders of rec. Julylla
15 July
2
to
July 14
15 folders of rec. July
5
l1 Holders of rec. Julylla
1
10 Holders of rec. June20a
10 Holders of rec. June20a
18 Holders of rec. June30a
15 Holders of rec. June30a
29 Holders of rec. June30a
1 Holders of rec. June 30
rec.
~
14
14
15
10
1
29
15
1
10
Holders of
Holders of
June 24
July 21
Holders
Holders
June 21
Holders
Holders
15 Holders
15
18
15
1
25
2
1
10
1
15
15
15
10
20
15
July
rec.
rec.
to
June 30
June 30
July 14
to
Aug. 10
JulylSa
rec. June30a
to
July 14
of rec. Sept.20a
of
of
rec.
of warr’t No. 5
of
31
rec.
to
June21a
Aug. 15
July 30a
June30a
July 12a
July 15a
July 23
July 15a
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec. Aug.24a
Holders of rec. Julyl8a
Holders of rec. June30a
Holders of rec. July
2
Holders of rec. June30a
June 21
to
June 30
Holders of rec. July 15a
July
1
to
July 15
30 Holders of rec. June 30
15 Holders of rec. June30a
11
June 24
11
June 24
1 Holders of rec. July 16
15 Holders of rec. July
5
15 July 6
to
July 15
15 July
1
to
July 15
15 July
2
to
July 14
1 Holders of rec. July 15a
11 Holders of rec. June25a
15 Holders of rec. June 30
10 July
1
to
July
9
30 June 24
to
June 30
1 Holders of rec. July 12a
1 Holders of rec. July 12a
1 Holders of rec. July 15a
15 Holders of rec. June30a
1
11
11
18
1
1
15
16
2
2
1
1
July
July
July
to
1
July 10
to
1
July 10
to
9
July 18
Holders of rec. July 16
Holders of rec. June30a
Holders of rec. June 30
Holders of rec. July la
Holders of rec. July la
Holders of rec. July la
Holders of rec. July 16
Holders of rec. July 16
1 July 16
to
July 31
15 Holders of rec. June 30
THE CHRONICLE
76
Name
Per
Cent.
of Company.
Street and Electric Railways (Concl.)
Seattle Electric Co., com. (auar.) (No. 7)
Union Traction of Indiana, common
United Rys. of St. Louis, pref. (quar.)._
United Traction, Pittsburgh, preferred
Trust Companies.
Union (quar.)
.
Fire Insurance.
Germania 1
-
-
-
IK
l
When
Books Closed.
Payable.
Days Inclusive.
July
July
July
la
9 July
6
to
July
11 June 25
to
July
15 Holders of rec. July
10
15 Holders of
IX
2x
July
12 X
July
9 July
July
7 Holders of rec. July
9
July
Miscellaneous.
2
Alliance Realty (quar.)
6
Extra
1
American Cement (No. 22)
1
American Chicle, common (monthly)..
1
Common, extra
1
American Gas & Electric, com. (quar.)..
$4
Amerlcan Glue, preferred
2X
Amer. Light ci* Trac., common {quar.) —
2 Xstk.
Common (payable in common slock) —
Preferred (quar.)
American Locomotive, preferred (quar.).
American Seeding Machine, pref. (auar.)
American Shipbuilding, pref. (quar.)
Amer. Smelt. & Ret., com. (qu.) (No. 26)
American Steel Foundries {quar.)
Amer. Telep. & Teleg. (quar.).
American Thread, common
ix
IK
IX
IK
First preferred (extra)
Second preferred (quar.)
Second preferred (extra)
Bell Telephone of Canada
Bush Terminal, common (No. 1)
Butte Elec. & Pow., pref. (qu.) (No.
Chicago Pneumatic Tool (quar.)
Chaffin (H. B.), common (quar.)
Columbus Gas & Fuel, common (No. 1)
Consolidated Car Heating
Consolidated Ice, Pitlsb., pref. (quar.)..
Corn Products Refining, pref. (quar.)..
Cuyahoga Telephone {quar.)
Detroit Edison (quar.)
Distillers’ Securities Corp.
(qu.) (No. 3
1
IK
IK
50c.
IK
K
IX
K
IK
IX
IX
IK
1
2
1
2e
IX
1
IX
2X
IX
X
Distilling Co. of Amer., pref. (quar.).
1
Eastman Kodak, common (extra)..
Edison El. 111., Boston (auar.) (No.
Electric Co. of America_
General Electric (quar.)
5
3
Harbison-Walker Refractories,
Illinois Brick (auar.)
85)
Internal. Harvester, com. (qu.) (No.
International Nickel, com. (quar.)
Common (extra)
2).
(quar.)
(quar.)..
{qu.){No.45).
City Breweries, pref. {quar.)
International Paper, pref.
Internat. Steam Pump, pref.
Kansas
La Rose
Consolidated Mines (quar.)..
Lehigh Coal & Navigation (No. 127)
Massachusetts Gas Cos., common (quar.)
Massachusetts Lighting Cos. (quar.)
Mexican Light & Power, common (quar.)..
Mexican Telegraph (quar.)
Michigan State Telephone, pref. (quar.).
Minneap. Gen. Elec., com. {qu.) {No. 12).
Preferred {No. 23)
National Biscuit, com. (quar.) (No. 47)..
National Carbon, common {quar.)
National Fireproofing, preferred (quar.).
Nebraska Telephone (quar.)
1
1
1
X
(quar.)
IK
1
2X
IX
IK
3
IX
IX
l
IX
2X
IK
1
2
IK
$4
Elevator, preferred (quar.)
Pacific Telep. & Teleg., pref. (quar.)..
People’s Gas Light & Coke (quar.)
Pittsburgh Coal, preferred (quar.)
Pope Manufacturing, common (No. 1)..
Otis
Preferred (quar.)
Procter & Gamble, pref.
2
2
1
4
7
5
(quar.)
Oklahoma Gas & Elec., pref.
Osceola Consolidated Mining
IX
X
IX
IX
155
Extra
Northern States Power, pref. (quar.)
Nova Scotia Steel & Coal, Ltd.,com.(qu.)
(quar.)
—
Quaker Oats, common (quar.).
Common(extra)
Preferred (quar.)
Realty Associates (No. 15)
IX
IX
IK
IK
2X
IX
2
2
X
IX
3
Reece Buttonhole Sew.Mach.(qu.)(No.97)
Rhode Island Perk. Horseshoe, prof.(quar
San Diego Cons’d Gas & Elec., pref. (qu.)
Securities Company
— .
Shawinigan Water & Power (quar.)
Southern New England Telephone (quar.)
Standard Underground Cable (quar.)
Union Bag & Paper, pref. (qu.) (No. 45).
Union Switch & Signal, com.&pref. (qu.)
United Cigar Stores,Corp.of(qu.) (No. 4)
Extr3i
United Fruit (quar.) (No. 44).
u.
United Gas & Eectric of N. J., pref
United Gas Improvement (quar.)
U. S. Rubber, 1st pref. {quar.)
Second preferred {quar.)
U. S. Smelt., Ref. & Min., com. (quar.)
Preferred
—
Virginia-Carolina Chem., com. {quar.) —
Preferred (quar.) (No. 59)
Vulcan Detinning, pref. (quar.)
Preferred (extra)
Wells, Fargo <& Co
Western Union Teleg. (quar.) (No. 165).
Westinghouse Air Brake (quar.)
,T
Special
—
Westinghouse EL & Mfg., preL (quar.)
White {J. G.) A Co.', pref. {quar.y
2
1
1
1
21
15
15
15
15
15
8
6
Statement of New York City Clearing-House Banks.—The
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending July 2.
The figures for the separate banks are the averages of the
daily results.
In the case of the totals,
at the end of the week are also given:
10
9
7
We omit two ciphers
Holders of rec. July
Holders of rec. July
Banks.
00s omitted.
Holders of rec.
Holders of rec.
5
5
July 24
14
July
July 14
July 10
July
July
July
July
July
July
to
July 12
Bank of N. Y_.
to
17
17
17
6
to
Aug. Id
July 31
July 31
July 31
Manhattan Co.
Merchants’
Mech. & Metals
America
Phenix
July 21
July 15
to
June 25
to
June 28
Holders of rec. July 30
Holders of rec. June30a
July
July
1
Holders of rec. May 18a
July
15 Holders of rec. Julylla
July
15 Holders of rec. Julylla
July
15 June 25
to
7
July
July
20 Holders of rec. July 2a
July
rec.
15 Holders of
July 7a
July
15 Holders of rec. July 7a
July
15 Holders of rec. July 7a
July
15 Holders of rec. July 7a
July
15 Holders of rec. June24a
July
15 Julv
6
to
July 15
July
15 Holders of rec. July la
July
1
Holders
of
rec.
July 5a
Aug.
11 July
1 • to
July 10
July
15 July
July 15
1
to
July
15 July
1
to
July 15
July
25 July 16
July
to
July 25
15 Holders of rec. July 7a
July
1
Holders
of
rec.
July 15a
Aug.
1 Holders of rec. July 15a
Aug.
20 July 12
to
July 20
July
11 Holders of rec. June30a
July
31 Holders of rec. Julyj 15
July
15 Holders of rec. July la
July
15 Holders of rec. July la
July
Holders of rec. July 9a
30
July
29 Holders of rec. July 8a
July
25 Holders of rec July 15
July
1 Holders of rec. July 30
Sept.
1 Holders of rec. July 15
Aug.
3 July 24
to
Aug. 3
Aug.
15 Holders of rec June 4a
July
9
July 20 Holders of rec. July
15 July
3
to
July 15
July
15 Holders of rec. July
5
July
15 Holders of rec June 25a
July
1 Aug. 13
to
Sept. 1
Sept.
1 Aug. 13
to
Sept. 1
Sept.
rec.
June
15
Holders
of
6
July
1 July 13
to
Aug. 1
Aug.
15 Holders of rec. July 5a
July
1 July 21
to
Aug. 1
Aug.
15 Holders of rec. July 20
Aug.
20 July
1
to
July 17
July
Aug. 31 Holders of rec. July 30
1 Holders of rec. July 16
Aug.
15 Holders of rec. July la
July
15 July 11
to
July 15
July
15 Holders of rec. June30a
July
1 July 17
to
Aug. 2
Aug.
1 Holders of rec. Julyl5a
Aug.
1
Holders
of
rec.
July 15a
Aug.
July
July
July
July
July
July
July
July
Sept.
Aug.
July
July
July
July
July
July
July
July
July
Aug.
July
July
July
July
July
July
Aug.
July
July
July
IK July
2X July
1
July
IK July
3
July
1
July
3
July
IX July
X July
2
July
2X July
2
July
2
July
IX July
1
July
IK July
IK i Aug.
2
July
IK July
Xff July
5
July
K July
2X July
154 July
2
July
IK July
ix- Aug.
15
15
15
10
15
29
9
25
15
31
20
20
15
15
15
15
28
15
15
25
25
30
30
15
15
15
31
15
15
15
15
15
20
15
11
15
Holders of
July
6
1
Holders
Holders
Holders
Holders
Holders
Holders
July
July
rec.
to
Ho ders of
July
rec.
to
of
of
of
of
of
of
1
1
rec.
June28a
July 15
July
5
July
9
June 30
rec.
Julylla
rec.
June28a
rec.
July
Sept.
July
July
July
rec.
rec.
to
to
15
1
30
17
17
installments.
...
...
Merchants’ Ex
Gallatin
Butch. & Drov.
Greenwich
Amer. Exch..
Commerce
Mercantile
Pacific
Chatham
People’s
..
20R.0
468.7
3,000,0
2,550,0
11,581,1
.
Hanover
Citizens’ Central
Nassau
Market & Fult’n
Metropolitan
500,0
1,600.9
502,9
1,000,0
2,000,0
3,000,0
1,500,0
3,000,0
1,692,5
1,444,6
5,395,3
7,539,5
10,290,4
250,0
5,000,0
1,000,0
10,000,0
2,000,0
5,614,5
1,998,6
20,302,4
1,619,1
250,0
500,0
750,0
1,643,7
..
Corn Exchange.
Imp. & Traders’
Park
East River
Fourth
Second
First
..
.
.
Irving Exch
Bowery
N. Y. County..
German-Amer
Chase..
.
1
1
to
to
Holders of
Holders of
Holders of
July
1
June 30
rec.
July 5a
rec.
June 30
to
rec.
Holders
Holders
Holders
Holders
Holders
rec.
Holders
Holders
Holders
Holders
Holders
Holders
July
1
Holders of
Holders of
July
5
5
rec.
Holders of
of
of
of
of
of
of
of
of
of
of
of
July
July
rec.
rec.
rec.
rec.
rec.
rec.
rec.
July 15
Aug. 3
July 15
July23a
July23a
June30a
July la
July la
Aug. la
5
July
465,0
880,2
510,7
503,2
14,405,0
8,152,2
4,167,0
1,931,0
712,3
1,153,5
11,181,0'
690.4
4,507.0
1.011,0
3,914,0
5,442,5
18,028,0
19,115,2
7,717,7
14,714,0
2,705,9
762,2
830,5
325,2
13,070,0 25.3
24.7
25.7
25.0
24.5
26.0
74,536,1 23.0
13,721,3 25.6
4,020,8 24.2
5,644,8 24.5
176,0
268,2
2,419,1
219,0
1.399.0
1,193,0
2,068,7
290,5
307,0
585,8
724,0
4,293,0
1,053,7
5,238,2
5,648,0
349.6
On the basis of averages,
760,0
circulation amounted to $48,417,100 and United States
actual figures July 2, circulation, $48,-
Banking Department also now furnishes weekly
banks and trust companies under its
charge. These returns cover all the institutions of this
class in the whole State, but the figures are compiled so as
to distinguish between the results for New York City (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
The State
returns of the State
“Chronicle,” V. 86,
made up, see
316.
p.
STATE BANKS AND TRUST COMPANIES.
Trust Cos.
Slate Banks
in
in
Greater N. Y. Greater N. Y
Week ended July 2.
Slate Banks
Trust Cos.
outside of
outside of
Greater N. Y. Greater N. Y.
$
S
S
$
Capital as of March 25—
26,225,000
61,625,000
9,033,000
8,375,000
25—
38,980,900
174,728,300
10,866,851
13,077,768
292,420,200 1,083,251,200
+ 2,996,300
+ 324,500
91,644,400
—126,200
137,S61,300
+ 504,200
337,356,200 1,177,861,000
+ 412,000 + 20,823,100
94,457,400
—268,900
142,880,400
+ 492,300
93,896,300
+ 78,000
143,098,400
+ 1,367,000
19.055,600
—209,600
18,167,300
+155,400
28.3%
28.4%
15.8%
15.6%
19.7%
19.9%
Surplus as of March
Loans and investments..
week.
Change from last
week.
.
1
Reserve on deposit
July 11
Change from last
July 10
July 15
July 15
1,134,4
4,025,1
4,943,3
27.1
26.2
22.5
26.4
26.5
25.3
26.3
27.0
25.7
26.2
89,582,9
23,677,6
3,769,0
7,883,8
3,800,9
49,0
632,5
210,4
4,420.0
deposits (included in deposits) to $2,017,300;
470,000; United States deposits, $2,098,700.
Deposits
Change from last
June 15
249,9
5,297,0
2,364,0
1,483,0
104,5
2,166,0
228,0
2,538,2
1,095,6
26.2
25.5
26.1
21.9
24.6
24.6
25.6
25.6
25.7
25.4
26.9
25.7
June 30
Julv
364,0
5,460,0
2,036,6
174,2
450,8
82,7
194,6
1,639,3
6,553,6
1,075,0
513,4
1.011,7
133,1
6,955,3
329,7
1,257,6
1,123,6
2,380.3
%
25.1
27.5
25.7
26.6
27.9
33.1
30.3
1220,662,8 242,536,4 66,346,8 1200,735,6
rec.
6
to
Holders of rec.
to
9 June 30
15 July
2
to
15 July
2
to
15 Holders of rec.
15 July
1
to
15 Holders of rec.
30 Holders of rec.
30 Holders of rec.
15 Holders of rec.
15 Holders of rec.
15 Aug.
6
to
15 June 26
to
20 Holders of rec.
20 Holders of rec.
15 July
6
to
15 Holders of rec.
9 July
1
to
9 July
1
to
9 July
to
1
15 July
6
to
1 Holders of rec.
1,215,1
1,924,8
12,796,7
3,524,2
July 2
week.
rec.
$
15,716,0
35,150,0
19,343,0
51,446,7
23,993,7
7,773,0
167,347,8
25,561,3
7,143,6
6,274,6
2,446,1
8,408,0
26,250,0
120,253,1
10,251,2
3,718,7
7,780,4
2,258,0
68,472,0
21,357,8
7,775,8
8.317,4
11,396.6
50,189,0
23,415,0
86,969,0
1,718,2
21,382,0
26.6
Change from last
rec.
892,0
1,265,2
781,2
$
857,0
1,782,0
1,522,0
Re¬
s’ ve.
130,350,0 185,325,6 1215,537,0 252,609,3 68,377,6 1208,273,8
N. Y. Prod. Ex.
State
14th Street
Coal & Iron
5
1
July 15
July
7
340.8
3,434,0
3,094,0
19,622,0
4,988,9
3,550,0
7,903,2
3,980,8
70,873,0
12,532,8
489,9
2,067,6
1,057,4
1,900,2
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
.
July
July
to
3,808.0
22,027,0
101,841,2
22,053,9
1,021,8
1,472,6
1,178,2
200,0
rec.
rec.
7,405.0
1,508,4
23,978,0
12,864,0
911,9
1,000,0
Actual figures
5,228,5
497,8
1,076,5
2,777.7
Deposits.
Average.
31.8
25.9
25.4
27.4
24.3
26.0
30.8
25.5
25.3
25.3
26.2
.
average
11,500,1
25,691,0
77,846,0
673,9
250,0
Totals,
445,4
969,7
475,1
Legals.
Average.
16,677,3
8,133,2
3,860,1
11,333,9
5,016,0
20,412,0
21,497,7
9,237,0
18,117,0
6,512,4
5,662,0
Metropolis
Liberty
454,9
1,876,4
4,784,3
24,107,6
1,556,3
14,183,2
4,032,9
7,450,3
1,747,2
60,943,9
21,921,9
7,124,4
8,598,6
11,094,5
42,587,0
7,606,8
2,207,4
1,000,0
1,000,0
Fifth
.
3,089,0
7,895,0
3,455,0
12,517,5
4,775,4
2,165,0
45,273,2
4,624,1
1,651,4
1,189,5
31,449,4
143,500,7
823,1
100,0
200,0
200,0
S
18,560,0
30,250,0
19,153,0
52,313,0
23,704,5
7,893,0
170,446,5
27,739,0
6,967,1
8,170,7
2,383,2
7,501,8
108,4
5,000,0
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
West Side
Seaboard
Specie.
Average.
$
3,494,1
4,222,0
1,770,6
7,796,6
5,931,1
713,0
30,897,3
6,295,2
566,0
2,507,0
157,7
813,4
5,366,2
5,000,0
25,000,0 16,381,0
2,627,2
3,000,0
905,5
500,0
1,050,7
450,0
City
Chemical
...
$
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
500,0
Holders of rec. June 30
July
July
P. C.
reserve to
week.
47,158,400
+ 418,200
123,839,900
+ 826,200
26,0S4,200
—849,200
13,295,600
+ 64,100
deposits..
Percentage last
week..
.
13.3%
13.2%
June 28
July
14
June 30
July 15a
July 15a
June 30
June 30
Aug. 15
July 20
July
9
July
9
July 15
June20a
July
9
July
9
July
9
July 15
July22a
o'Transfer books not closed, b Also declared X% payable Nov. 1 to holders of
record Oct. 1.
d Correction, e Declared 4%, payable 2% Aug. 1 to holders of
rec. July 15and 2% Feb. 1 1911 to holders of rec. Jan. 15 1911.
/Less income tax.
g On account of accumulated dividends,
ft On $4 50 paid in. i Declared 5%,
payable in quarterly
$
to
3
Loans.
Surplus.
are
(00) in ail cases.
Average.
6
Holders of rec. June30a
July
Capital.
\bd
to
to
to
the actual figures
For definitions and rules under which the various items
made up, see “Chronicle,” V. 85, p. 836.
July 10
to
.
3
2
Niagara Falls Power
Nlpe Bay Co., common (No. 1)
Preferred (No. 1)
Niplssing Mines (quar.)
Extra
IX
2
$3
New Orleans Gas Light
New York Air Brake (quar.)
New York Mutual Gas Light
Preferred
sx
25
Common (extra)
Preferred
IK
2
pref. {qu.)
15
Aug.
2
36).
Aug.
Aug.
Aug.
IK
2
15ft
IX
Canadian Westinghouse (quar.) (No. 22).
Central Coal & Coke, common (quar.) —
Preferred (quar.)
15
15
23
20
20
12
1
1
2
(auar.).
July
July
July
July
July
July
Aug.
July
July
July
July
2H
Preferred
American Type Founders, com. (quar.)..
Preferred (quar.)
American Woolen, pref. (quar.) (No. 45)
Anaconda Copper Min. (quar.) (No
rec.
[VOL. LXXXXI.
last week.
-f Increase over
—
Decrease from last week.
Note.—“Surplus” includes all undivided profits. “Reserve on deposits’’ in
eludes, for both trust companies and State banks, not only cash items, but amounts
readl^e agents. Trust companies in New York State are required by
ajifeerve proportionate to their deposits, the atio varying according to
due from
law to keep
location as
the aggregate
Sfitovn
below. The percentage of reserve required Is computed on
of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of deposits secured by bonds of the State
of New York.
The State banks are likewise required to keep a reserve varying
according to location, but in this case the reserve is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
.
t
Reserve Required Jor Trust
and State Banks.
,
j
Companies
■
,.
.
.
'PTTJStf C'n't
Total
Reserve
.
KtnfP
Of
which
,
! Total
Reserve
Of
which
j*
; ‘ u ;Required in Cash.Required. in-Cash.
Borough
-_‘ii
..L-vj-.-il.15%" ^ ’ 15%
25 %Hi6%
10%
Borough(without branches in Manhat.). 15%
10%
20%
Other Boroughs (without branches in Manhattan). 15%
10%
15%
1X%
Any Borough with branches in Manhattan.
15%
15%
15%
25%
Elsewhere in State
10%
5%
15%
6%
Location—
Manhattan
Brooklyn
THE CHRONICLE
July 9 1910. j
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 results (both actual and average) for the ClearingHouse banks.
In addition, we have combined each corre¬
sponding item in the two statements, thus affording an aggre¬
gate for the whole of the banks and trust companies in the
Greater New York.
YORK CITY
NEW
Week ended July 2.
BANKS AND TRUST COMPANIES.
Clear .-House
Banks.
Clear .-House
Banks.
ActualFigures
Average.
Stale Banks &
Trust Cos. not
in C.-H. Aver.
$
$
$
Total of all
Banks& Trust
Cos. Av°rage.
$
130,350.000
74,900,000
205,250,000
185,325.600
185,325,600
183,344,700
368,670.300
Loans and investments 1,220,662,800
+ 9,813,800
Change from last week
1,215,537,000
4-15,755,000
1,200,735,600
Deposits
—9,995,800
Change from last week
1,208,273,800 ol,159,974,600 2,368,248,400
4-7,197,500
4-5,474,200
4-12,671,700
fNat.
banks]
March 29
j
8urplus \ State Banks)
l March 25. I
Specie
Change from last week
242,536,100
—15,756,590
Legal-tenders
Change from last week
66,346,800
—3,189,000
-----
-
-
308,883,200
18,945,500
Aggr’te money holdings
Change from last week
1,175,239,100 2,390,776,100
4-2,125,000
4-17,880,000
252,609,300
—6,716,900
130,370,300
4-837,500
382,979,600
—5,879,400
68,377,600
1,439,900
521,714,300
—149,100
90.091,900
—1,589,000
320,986,900
—8,156,800
cl52,084,600
4-688,400
473,071,500
—7,468,400
23,118,300
4-837,800
23,118,300
320,986,900
—8,156,800
175,202,900
4-1,576,200
496,189,800
—6,580,600
26.60%
27.44%
17.2%
17.1%
—
—
We omit two
ciphers (00) in all these figures.
Capital
Banks.
and
Loans.
Specie.
Legals.
Deposits
Circu¬
lation
a
Surplus
Boston.
June 11..
June 18..
June 25..
July
2_.
Phlla.
June 11-June 18..
June 25..
July
2..
Clearings
.
$
$
$
40,300,0
40,300,0
40,300,0
40,300,0
201,533,0
200,225,0
202,066,0
201,139,0
56,315,0
56,315,0
56,315,0
56,315,0
258,431,0
255,911,0
255,414,0
256,657,0
$
20,929,0
21,997,0
21,735,0
21,802,0
$
5,564,0
5,232,0
5,201,0
4,911,0
67,417,0
68,073,0
67,958,0
66,678,0
S
$
239,562,0
240,237,0
237,731,0
246,876,0
7,540,0
7,537,0
7,518,0
7,520,0
149,902,5
141,888,7
138,008,4
163,266,9
299,416,0
298,337,0
297,463,0
299,856,0
16,332,0
16,316,0
16,293,0
16,344,0
157,002,0
144,861,1
141,473,0
181,140,8
a Including Government deposits and the item "due to other
banks.’,' At Boston
Government deposits amounted to $3,165,000 on July 2, against S3,054,000 on
June 25.
.
130,350,000
Capital
77
Imports and Exports for the Week.—The following are
July 2; also
January:
the imports at New York for the week
ending
totals since the beginning of the first week in
FOREIGN IMPORTS AT NEW YORK.
For week.
1910.
Dry Goods..
$3,000,718
13,135,714
$13,270,102
$79,688,795
General Merchandise
Since Jan. 1.
Dry Goods
General Merchandise
397,437,379
Total 26 weeks
1908.
$2,437,795
10,832,307
.
Total
1909.
1907,
$1,794,718
7,511,657
$2,965,678
13,593,839
$16,136,432
$9,306,375
$16,559,517
$85,904,995
350,069,015
$58,610,146
248,833,788
$94,045,240
364,724,931
$477,126,174 $435,974,010 $307,443,934 $458,770,171
Money on deposit with
other bks. & trust
cos.
Change from last week
Total reserve
Change from last week
308,883,200
—18,945,500
Percentage to deposits
requiring reserve
Percentage last week-.
25.76%
27.11%
+ 887,800
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 2 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK
1910
For the week
Surplus reserve.
18,918,450
8,699,300
-
Previously reported
— Decrease from last week.
4- Increase over last week.
These are the deposits after eliminating the Item "Due from reserve depositories
and other banks and trust companes in New York City”; with this item included,
deposits amounted to §1,290,472,000, an increase of $20,232,500 over last week,
In the case of the Clearing-House banks, the deposits are "net” both for the average
and the actual figures,
c Of this amount State banks held
b Includes bank notes,
$14,949,100 and trust companies $137,135,500.
Total 26 weeks.
1909.
$15,117,867
311,203,560
1908.
$11,747,200
304,139,143
1907.
$8,829,882
330,027.282
$7,963,314
309,047,071
$326,321,427 $315,886,343 $238,857,164 $317,010,385
_
a
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
The following table shows the exports and
imports of
specie at the port of New York for the week ending July 2
and since Jan. 1 1910, and for the
corresponding periods in
1909 and 1908:
EXPORTS
AND
IMPORTS
Week-
Loans and
Investments.
Ended.
ciphers in all these figures.
Great Britain
France
Tot
Deposits.
Specie..
Money Entire Bes.
Holdings. on Deposit,
Legads.
‘
April
May
May
May
May
30..
7
..
14-.
21-.
28-.
4..
June
June 11_June 18-.
June 25-.
2 £
July
S
S
2,407,365,4
2,376,276,9
2,359,492,5
2,360,057,4
2,365,681,4
2.371,700.9
2,347,272,9
2,315,746.9
2,303,523,4
2,310 714,3
2,323,016,9
2,358,172,2
2,361,489,8
2,372,896,1
2,390,776,1
2,329,930.0
2,329,091,5
2,338,192,9
2.355.576.7
2.368,248,4
$
364,670.3
366,020.4
368.555,7
375,170,7
380,847,3
378,288,5
379,990,2
383,945.9
388,859,0
382,979,6
S
$
454,975,1
453,469,5
456,790,3
465,105,1
471,926,4
90,304,8
87,449,1
88,234,6
89,934,4
91,079,1
89.904,4
90,802,3
91,322,5
91,680.9
90,091,9
468,192,9
470,792,5
475,269,4
480,539.9
473,071,5
S
478,197,1
476,169,5
478.676.3
486.670,6
493,964,4
491,135,1
493,105,7
497,976,7
502,770,4
496,189,8
Reports of Clearing Non-Member Banks.—The following is
clearing non-member
2, based on average
daily results:
the statement of
condition of
the
banks for the week ending July
Loans,
Banks.
Capi¬
Sur¬
tal
plus.
Disc’ls
and
Invest
Specie.
merits.
N.
Y.
Deposit with
Legal
Tender
and
Bank
Notes.
Clear¬
ing
Agent..
Net
Other
Deposits.
Banks,
&c.
Wash. Hgts
Century
...
Colonial
Columbia
Fidelity
_
-
...
Jefferson
Mt. Morris.
Mutual
Plaza
23d Ward..
Un.Ex.Nat.
Yorkviile
New Netli’d
Batt.Pk.Nat
Aetna Nat.
_.
Borough of
Brooklyn.
Broadway
.
Mfrs.’ Nat.
Mechanics’.
Nassau Nat.
Nat. City..
North Side.
First Nat..
S
Tot. July 2
Tot.June 25
Tot.June 18
$
300,0
200,0
1,323,3
1,429,9
5,654,0
6,309,0
500.0
510.2
250,0
307,7
353,4
433,2
109,0
936,4
3,339,5
2,702.4
3,838,2
40.5
3,836,0
320,0
151,1
1,899,4
8,860,3 1,248,6
47.0
4,269,9
2,353,0
236.0
1,271,6
204,5
1,909,9
503,0
200,0
100.0
200.0
1,000,0
100,0
200,0
200,0
300,0
200,0
252,0
1,000,0
750,0
300,0
200,0
300,0
Jersey City.
First Nat..
Hud.Co.Nat
Third Nat..
Hoboken.
First Nat..
Second Nat.
S
$
259,6
154,3
334,3
447,5
168,0
100,0
200,0
400,0
400,0
250,0
200,0
220,0
125,0
445,7
.
257,5
149,8
319,1
1,011,8
.
542,4 3,198,3
807,3 6,025,6
887,9 11,612,8
985,0 7,033,0
604,0 3,832.0
140,6 1,860,7
591,3 3,443,0
141,4
30,8
776,4
602,0
90,3
22,1
501,3
223,0
475,2
559,0
68,6
517,0
31,7
550,3
451,0
53,4
1,000,0
724,0
75,0
41,4
24,8
S
229,6
114,7
667,5
'
$
644,0
150,0
291,2
417,1
338,1
998,0
317,6
344,7
291,3
219,0
206,1
S5,7
5,3
257,6
5,0
56,3
100,3
25,5
1,409,3
1,740,4
7,084,0
6,987,0
1,042,4
3,629,3
3,534,2
4,234,9
5,032,0
2,118,8
8,957,0
5,481,0
2,429,0
1,225,0
1,847,7
200,1 3,450,0
109,0 6,390,0
236,0 14,847,0
7,298,0
163,0 4,902,0
108,3 2,264,3
38,0 3,119,0
244,4
621,6
1,444,2
482,6
44,9
114,2
2,866,5
355,5
606,2
189,0
160,4
18,5
7,396,8
2,721,3
2,346,6
27,9
84,6
116,4
61,8
72,7
175,8
2,657,6
2,825,2
5,097,8
740,3
389,7
3.084,1
1,989,6
289,4
139,0
54,8
630,5
2,988,6
2,714,9
140,2
94,5
1,313,0
677,0
329,3
381,0
8,447,0 12,997,8 102879,6 7,739,1 8,473,5 14,256,3 2,357,8 116969,8
8,447,0 12,997,8 103581,7 7,693,2 8,481,2 12,578,1 2,293,6 115777,2
8.447,0 12,997,8 103701,4 7,790,4 8,470,5 .16,141,2 2,337,3 118839,5
Boston and Philadelphia Banks.—Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
YORK. ‘
Imports.
Since Jan. 1.
Week.
S
$
$
SinceJan. 1.
$
$32,150,000
Total 1910
Total 1909
Total 1908
$3,808
$8,528
3,384,950
8,801,666
41,900
11,760
3,998
31,637
67,347
318,359
108,489
1,335,233
724,410
$400 $44,268,263
$118,550
$5,880,252
5,601,819
11.381,301
$400
i__
..
1
....
2,992,000
305,343
Silver.
Great Britain
France
..
Germany
W’est Indies.
Mexico
South America
All other countries
4,455
3,270,242
283
60,444,802
46,073,744
118,723
130,611
$779,210 $19,931,948
53,400
1,182,600
423,645
800
56,308
24,255
4,350
7,300
75,029
3,724
52,431
$13,344
1,008
7,775
49,193
683,536
589,688
734,409
$833,900 $21,623,106
854,370 23,487,373
380,928 20,665,663
$138,496
79,957
69,468
$2,078,953
2,649,449
1,622,140
90
400
..
Total 1910
Total 1909
Total 1908
$12
Of the above imports for the week in
1910, $11,315 were
American gold coin and $5,685 American silver coin. Of
the exports during the same time, $400 were
Ameri¬
can gold coin and $890 were American silver coin.
gawMttg atttl
S
16,7
127,7
158,0
26,3
363,7
210,7
572,0
328,3 1,313,7
638,0
319,0
488,0
97,0
97,8
129,6
315,0
76,0
1,249,2
243,9
S
56,0
NEW
..
West Indies
Mexico
South America
All other countries
City
of
Brx.
AT
Week.
Germany
Boroughs
Man.it-
SPECIE
Exports.
Gold.
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We omit two
OF
Our
inane iat.
INVESTMENT SECURITIES
eight-page circular No.687 describes several
Investment bonds yielding about W* to 5tf%.
Issues
of
sound
Spencer Trask & Co.
43
EXCHANGE PLACE. - - - NEW YORK
Chicago, Ill., Boston, Mass., Albany, N. Y.
Branch offices:
WHITE, WELD &
CO.
Members New York Stock Exchange
5 NASSAU STREET,
THE ROOKERY,
NEW
YORK
CHICAGO
BANKING and EXCHANGE of every description In connection with
EXPORTS &
International
IMPORTS
Banking Corporation
60 Wall St., New York.
CAPITAL & SURPLUS. $6,600,000
BRANCHES and AGENCIES throughout the WORLD.
,','S
THE INTERNATIONAL BANK
Organized under the Laws of N. Y. State.
60 Wall St., New York.
Accounts invited.
Interest paid on Term Deposits.
THOMAS H. HUBBARD. President.
THE CHRONICLE
78
San
(^a^ctte.
^anluers*
[VOL.
LXXXXI.
$1,000 premium. St. Paul, 50c. per
St. Louis, 10c. per $1,000 premium.
Savannah, buying, 3-16 discount; selling, par. New Or¬
leans, commercial, 25c. per $1,000 discount; bank, $1 per
$1,000 premium. Charleston, buying, par; selling 1-10
premium. Montreal, 6234c. per $1,000 discount.
Francisco, 20c.
per
$1 000 premium.
Wall Street. Friday Night, July 8 1910.
The Money Market and Financial Situation.—The down¬
ward movement of security values which had been in pro¬
for several weeks with slight interruption reached a
turning point early on Wednesday.
Beginning at that time
there has been a moderate but irregular demand for shares,
sufficient to create an advance in prices of from 2 to 4 points
in practically all the active issues.
gress
This new demand is the result of somewhat less unfavor¬
able reports in regard to the condition of spring wheat, to
announcements that the established dividend rates on St.
Paul and the Atchison stocks will be maintained, to the
beginning of a gold-import movement, which seems likely to
increase later in the season, and to the covering of shorts.
Various estimates have been made as to the damage to
wheat in Minnesota and the Dakotas, and the Agricultural
State and Railroad Bonds.—Sales of State bonds at the
Board $3,000 Tennessee settlement 3s at 9534 to 96.
The aggregate transactions in bonds has not been large,
but many issues were included, so that the long list is, at
first glance, misleading.
Fluctuations have been irregular
cases, unimportant.
U. S. Steel 5s and Atchi¬
5s are exceptional in a net gain of a point.
Rock
Island 4s have declined 1% points and several convertible
issues are lower.
There have been no new active features.
and, in most
son conv.
United States Bonds.—Sales of Government bonds at the
Board include $2,000 3s coup, at 10134> &500 4s coup, at
11434 and $1,000 4s reg. at 11434. The following are the
daily
closing quotations; for yearly range see third page
Department to-day made the condition figures quite low—
73 for Minnesota, 45 for North Dakota and 64 for South following.
Dakota.
This in itself is not a very serious matter except in
Interest
July
July
July
July
July
July
the territory mentioned.
6
8
4
5
7
Periods
2
Moreover, as from four to eight
weeks must elapse before the spring-wheat harvest begins,
11
H
*100%
*100%
*100%
*100%
2s, 1930
registered Q—Jan
the final results are likely to be quite different from present 2s, 1930
()
O
.coupon Q—Jan
♦100% *100% *100% *100%
L
L
*101% ♦101% *101% *101%
registered Q—Feb
estimates. Furthermore, the outlook for corn, the largest of 3s, 1908-18,-I
I
3s, 1908-18
*101% *101% ♦101% *101%
coupon Q—Feb
our grain crops,continues in the highest degree encouraging.
D
D
114% ♦114% *114% *114%
4s, 1925
registered Q—Feb
A
A
*114% *114% *114% *114%
In the meantime, in mercantile and manufacturing circles 4s, 1925
coupon Q—P'eb
Y
Y
2s, 1936.Panama Canal regis Q—Feb
*100% *100% 100 % ♦100%
generally, conditions remain very quiet, and here, especially, 2s, 1938.Panama Canal regis Q—Nov
*100% *100% ♦100% *100%
it is hoped that good crops will improve the situation.
This is the price bid at the morning board; no sale was made.
The Bank of England's weekly report shows a larger per¬
Railroad and Miscellaneous Stocks.—The stock market
centage of reserve than last week, and at this centre the halfyearly settlements have been made without any perceptible was weak again on Tuesday, after the protracted holiday,
effect in the money market.
For time loans, however, rates and so continued until after the opening on Wednesday,
show a hardening tendency.
when new low-record
prices were established.
These
The open market rates for call loans at the Stock Exchange prices and the news of the morning stimulated a demand for
during the week on stock and bond collaterals have ranged stocks, which has been wholly lacking for some time past.
from 2 to 334%To-day's rates on call were 2@3%. Later in the day it was reported that nearly $2,000,000 of
Commercial paper* quoted at 5@5 34% for 60 to 90-day en¬ gold had been engaged in London for shipment to New
dorsements, 5@534% for prime 4 to 6 months' single names York and traders on the short side of the market began
and 5%@6% for good single names.
to cover.
As a result of the buying from both the sources
The Bank of England weekly statement on Thursday mentioned there was a substantial recovery in prices, although
showed a decrease in bullion of £912,100 and the percentage the volume of business has been considerably reduced.
of reserve to liabilities was 46.40, against 42.77 last week.
During the last hour to-day the market was weak
The rate of discount remains unchanged at 3%, as fixed on the Government crop report, which was not as favorable
The Bank of France shows a decrease of 7,125,000 as had been expected.
June 9.
As a result of the week’s operations
francs gold and 800,000 francs silver.
23 of a list of 30 active issues are lower and 7 higher.
NEW YORK CITY CLEARING-HOUSE BANKS.
A few issues have been exceptional.
Louisville & Nash¬
ville and Reading declined 6 and 7 points, respectively, early
1909.
1908.
1910.
.
.
.
-
..
*
*
Averages for
week ending
July 2.
Differences
from
previous week.
Averages for
week ending
J ul y 3.
Averages for
S
$
8
S
week endina
July 3.
126,350,000
126,350,000
130,350,000
174,450,100
165,169,100
185,325,600
Loans and discounts
1,215,537,000 Inc. 15,755,000 1,340,200,300 1,241,096,500
56,459.900
71,900
49,033,200
Circulation
48,417,100 Inc.
Net deposits
7,197,500 1,419,315,700 1,320,470,800
1,208,273,800 Inc.
259,000
2,259,900
U. S. dep. (Inch above)
2,017,300 Inc.
17,985,500
310,268,100
252,609,300 iDec. 6,716,900
306,623,600
Specie
79,056,900
78,189,400
68,377,600 Dec. 1,439,900
Legal tenders
Capital
Surplus
.
..
Reserve held
25% of deposits
320,986,900 Dec.
302,068,450 Inc.
8,156,800
1,799,375
389,325,000
354,828,925
384,813,000
330,117,700
Dec.
9,956,175
34,496,075
54,695,300
18,918,450
Surplus reserve
19,422,775
Surplus, excl. U. S. dep
Dec.
9,891,425
35,061,050
Foreign Exchange.—The chief incident of the week was
the engagement of $1,750,000 gold in London for shipment
to New York.
Rates, however, close well above the goldimport point.
To-day's (Friday’s) nominal rates for sterling exchange
were 4 8434 for sixty-day and 4 8634 for sight.
To-day’s
actual rates for sterling exchange were 4 8360@ 4 8370 for
sixty days, 4 85%@4 8585 for cheques and 4 8605@4 8610
for cables.
Commercial on banks 4 8330@4 S340 and docu¬
ments for payment 4 83@4 8334Cotton for payment
4 82 % @4 83 and grain for payment 4 83 34 @4 8334To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 20 less 1-16@5 20 for long and 5 18?4 less 1-16@
5 18*4 less
for short. * Germany bankers’ marks were
94£4@94 11-16 for long and 95@95 1-16 for short. Amster¬
dam bankers’ guilders were 40 24@40 26 for short.
Exchange at Paris on London, 25fr. 21c.; week’s range,
25fr. 2134c. high and 25fr. 1734c. low.
Exchange at Berlin on London, 20m. 4534pf-l week’s
range, 20m. 45%pf. high and 20m. 42%pf. low.
The range of foreign exchange for the week follows:
Sixty Days.
4 84 %
Cheques.
4 8590
4 83%
4 8545
High for the week.
5 19%
Sterling Actual—
High for the week
-—
------
5 20 less 1-16
Low for the week
Germany Bankers’ Marks —
High for the week.
Low for the week
94%
94 9-16
5 18%
5 18% less 1-1G
95%
Cables.
4 8(515
4 85%
5 17% less 3-32
5 18%
95 3-16
95 less 1-32
95 1-16
40 28
40 32
Amsterdam Bankers’ Guilders—
40 1-16
High for the week
39 99
Low for the week-..
40 18
40 22
the rates for domestic exchange at the
undermentioned cities at the close of the week: Boston, 10c.
Chicago, 5c. per $1,000 discount.
per $1,0Q0 premium.
The
following
are
new
low records.
United States Steel de¬
and recovered 2—the preferred shows a net
All the copper stocks declined on reports
showing the metal supply largely increased.
Great Northern Ore at 45 on Wednesday was nearly 7
points below its previous low price for the year. General
Electric is the only active industrial stock which shows a
net gain during the week.
For daily volume of business see page 88.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending July
Sales
Range for Week.
Range since Jan. 1.
for
8.
Week.
59,191,675
Note.—The Clearing House now Issues a statement weekly showing the actual
condition of the banks on Saturday morinng as well as the above averages.
These
figures, together with the returns of separate banks, also the summary Issued by'the
State Banking Department, giving the condition of State banks and trust companies
not reporting to the Clearing House, appear on the second page preceding.
Low for the week
Paris Bankers’ Francs—
in the week to
clined 5 points
loss of 1 point.
100
American Teleg & Cable
Canadian Pac subscrip’n
July
July
320'101% July
110! 86% July
200' 40
July
-
400
3
100! 36
511 j 18
500 50
-.
j
j
205 38
100 158
20114
July
July
July
July
July
July
July
5 182% July
7 110
July
6 101% July
8 86% July
8 41
July
o
3
July
6 36
July
8 18
July
8 50
July
8 38
July
8 158
July
5,114
July
i
Loioest.
II ighest.
71% July .81 71 % July
600182
100110
receipts, 3d paid
Colorado Fuel & I, pref
General Chemical, pref.
Homestake Mining
Lackawanna Steel
Manhattan Beach
Pere Marquette, 2d pref.
St Jos & Grand Island
First preferred
Second preferred
Sears, Roebuck & Co
South PortoRico Sug, pf
Lowest.
8
71% July 77
7 174
71 no
6j
Highest.
101%
8 81
8 40
6.
3
6 36
8
18
8’ 50
8 38
8 150
5 110
Feb 193
Feb 116
June 107
Jan 89
June 45
Jan
3%
July 40
June 20
Feb 55
Feb 40
June 166%
Apr 114
Jan
May
Jan
Mch
Feb
May
Mch
Mch
Apr
Jan
Feb
Apr
Mch
Outside Market.—Renewed weakness was exhibited by
“curb” stocks on the opening day of trading this week and
new low levels were reached in many instances.
Thereafter
the market improved, trading was more animated and a
prevailed. Butte Coalition from 17, ex-dividend,
dropped to 1634> recovered to 17 and reacted finally to 1634Chino Copper fell from 1034 to 10 and rose to 1034Giroux
weakened from 634 to 634 and improved to 6J4GreeneCananea fluctuated between 634 and 734 and closed to-day
at 7.
Miami Copper was off at first from 18% to 18, but ran
up subsequently to 19347 the final figure to-day being 19.
United Copper common sank from 434 to 4%, moved up to
434 and ends the week at 434- El Rayo eased off from 4 to
334- Goldfield Consolidated declined from 8 7-16 to 834?
then jumped to 934? the final figure to-day being 9.
Kerr
firmer tone
Lake weakened from 8 to 7 15-16 and advanced to 8%.
La Rose Consolidated went up from 4 to 434.
Nipissing ad¬
vanced from 1034 to 11, but moved back finally to 1034*
Among the miscellaneous securities Standard Oil was promi¬
nent, advancing from 607 to 615 and dropping to 610.
To-day it sold as high as 614 34> bat reacted to 611. Inter¬
continental Rubber gained 2 34 points to 22 34 and was traded
in to-day from 2134 to 21%.
In the bond department
Western Pacific 5s sold up from 8934 to 9134 and Southern
Pacific 4s, “w. i.,” from 9134 to 92.
Outside quotations will be found on page 88.
New York Stock Exchange—Stock Record, Daily, Weekly and
OCCUPY
STOCK
AND
HIGHEST
LOWEST
TRICES
SALE
I M4
TWO
STOCKS
YORK STOCK
EXCHANGE
sates 01
Range Since January l
basis o! lub-share to/s
NEW
Saturday
Jvi]) 2.
Tuesday
July 5.
Monday
July 4.
1
1
1
1
•
•
1
1
S
«
•
a
1
•
1
•
1
9434
*98%
963g
92%
9834
104
105% 107%
*87
89
74%
188%
10734
107
89
74%
737ft 75%
187% 1877R
*60% 72%
89
*
a
a
a
•
1
a
1
c
a
a
•
a
a
1
•
a
7i
23%
24%
45
46
139%
*203
*134
*150
*2%
1
1
a
1
*5%
a
a
75
1
54
•
•
*75
*72
157
1525
1
1
1
a
1
a
a
1
a
l
23%
46
146
4578
117%
14634
14034
140-%
*203
*135
*150
*203% 205
150
175
*135
*150
33j
*2%
9
*5
29%
68%
30%
70%
*10%
11
23
25
41%
34
*2%
*5%
K
*54
*74
*73
157
54%
54
75
*73
155
75
75
157
89
Week
Shares.
36
70
9834 117.550
1.120
100%
108
108%
89
76
6.125
15,350
522% 522% *522%
2978
28% 30%
69
68% 70
22
24
a
1
•
1
1
1
1
1
•
a
1
41%
*31
123
49%
1234
95%
*
9/
*117%
•
1
Q
«
0
48*4
1
*16
*32
*69
•
W
>«
PS
x
62
15
*38
*60
y
O
£
7
H
Q
w
0
Pk
«
a
55
•
a
*-»
■<
+87%
31
65
56
*126
*67
a
a
a
0
K
a
a
a
a
•
a
1
*
1
a
a
•
a
«
1
•
t
l
•
a
*203
205
150
*135
150
165
*150
165
*2%
3'c
4
9
*5
9
*72
75
741o
Y
110
110
56
547ft 55
75
*74
75
*71
75
75
157
159% 159%
*522
585
585
30%
29%
70%
70
303.|
70%
•
•
*
/ •
1
a
•
a
*
1
•
1
»
1
a
1
1
1
93
26%
27%
62
02
15
45
66
15
*35
*60
125
30
55
129
150
90
•
14534
88%
•
•
9
1
•
•
1
1
1
1
l
a
•
•
a
1
1
•
1
1
1
1
13834 143%
§88
700
150
1,200
200
7.170
2,362
1
•
*4%
1
•
97%
961o
124% 124%
150
90
32%
64
5734
*126
*66
61
96
116
70
150
90
33%
64
603S
§101
*85
*
61
101
92
144
433s
98
93
120
108
110
108
128% 1293ft
*94% 96
*105
5,300 IVansas
400
300
71
48% 49
10634 10634
116
89
*24
50
1638
32%
41
*62
48%
72
6
6%
2278
49%
22%
49%
107
107
35fi
8%
*3%
884
0
*4
48
48%
68
4
834
6
48
107
10/
J’nO30
Do
899 Twin
42
99
May 5
Feb 7
147
J’ne30
30
6
Union Pacific
Wabash
Jan
6
3
J’ne 25
123
J’ly
80
145
Mch 8
5334 Jan
6
4
Feb 24
Mch 3
155% Mch
9234 Jan
139
J’ne30
128
67
Jan
Mch
8
9
May27
10934 jan 21
J’ly 8
98
Apr 28
Apr 28 162
J’ne 10 hl51
50
J’ne30
Jan 25
Feb 2
Jan 19
Mch 14
Mch 11
Jan 5
108% Mch 21
91% Mch 16
145% Jan 3
11834 Jan 12
J’ne3o
J’ne 7
118
3
138% M^h 9
Jan
104% Mch 2 2
116
Mch
1
172% Feb 18
93% Feb 17
110% Jan 3
57% Jan
92% Apr
73
60
Jan
Jan
13% Nov
Feb
39
83%
J’ly 6
J’ly
5% J ’ne
5% J’ly 6
20% J'nelS
75
Jan
3634 Jan
19% Jan
I534 jan 12
5438 jan
72% Jan
117% Jan
20434 jan
10334 jan
42% Jan
7233 Jan
2734 Jan
.
J’no30
10334 J’ly
15434 J’ly
J’ne jo
23-% J’ne30
J’ne30
J’ne 30
32% J’ly
01
41
54%Mch 12
70% May 19
J’ne 30
67% J’ne 18
10
23
Apr 28
J’ne 30
J’ne30
Jan
Jan
Jan
13% Jan
56%Mch
45% Feb
Feb
“8i"APr
137
Feb
11% Mch
3034 Mch
2634 NOV
48
743,
37
Sep
48
J>n
Feb
Feb
6778 Feb
19% Feb
137
Jan
Jan
Dec
51
si
Sep
Mch
132%
Jan
Apr
J iy
35% Feb
71
65
Feb
Feb
122% Jan
44% Apr
Dec
21
120% Feb
48% Mch
100
Feb
70% Apr
1154
Nov
h\47U
Dec
42% Feb
84% Jan
85% Men
133% Feb
Oct
Apr
82% J’na
189*8 Oct
70% Nov
.*23% Sep
96
Dec
7434 Apr
7SD
Mch
;*73«
64*4
i65%
Dec
Dec
Sep
isl
Aug
19S%
Aug
230
167
iso
7
Aug
Aug
J’ly
Jan
Jan
Dec
Men
68%
Jan
80
84%
200
(,80
64
90
Feb
May
Jan
May
Apr
Apr
71% Aug
Jan
21
30%
39
Jan
J’ne
5034 Aug
46 Aug
1577* Aug
88% Aug
Dec
21
103
100
Dec
Dec
941,
162%
J’ne
Aug
257* Dec
63% Dec
36
62
82
Apr
Apr
Sep
60% Aug
75% Aug
29% Aug
64% J’ne
71% Deo
162% Aug
153% Jan
65
90
I49t9
Jan
Jan
Jan
164% Aug
94
142
64
Dec
Dec
26%
147*4
May
Aug
NOV
Feb
NOV
17434 J’ne
69
100
95
'i 149*4
Mch
Feb
2078 Feb
57% Feb
65% Mch
Feb
22
60
30
Feb
Jan
Feb
121.1 Dec
7
May
43
Feb
6434 Feb
97
Jan
172% Feb
r94
30
Mch
Feb
50% Feb
16
41
Feb
*eb
6
J’ly
15% J’ly
6% J'ly
357* Jan
Dec
55% J’ne
102
92%
Dec
J’ly
159% Aug
Mch 116%
Mch §106
Mch
115
126% Feb
151%
86% Jan
9978
104
Feb
110%
118
Feb
1733g
89
90
Dec
Oot
78% Oct
77% Aug
50%
76
100
88
20% Feb
47% Jan
114% Feb
77% Jan
J’ne 30 zl38% Jan
20% J’ne30
3
8
4
136% Feb
65% Mch
36
34% Jan
3334 jan
Feb
89
6734 May 23
297s May 6
May 4
Jan
22% Mch
36% Mch
28% Mch
147
61% Jan
74% Jan
73% May23
Jan 25
Feb 3
24-38 Jan 15
47
16
4
3
130
80
28
Jan
J’ne30
J’ly 6
Feb
Mch
1i)(»34 J’ne
14o% Aug
122% J’ly
18%
83%
79% Jan
56
Jan
14% Nov
59
70% Apr 14
15934 Jan 5 zl2l
53
26
158% 162% 449.400
Do pref
90
90
2,187
600 Unit Rys Inv’t of San Fr
26% 26%
Do pref
53
54%
1,700
4,100
167ft 17%
Do pref
34
3634 22,100
1,700 West Maryland Ry_.
*42% 44
68
Do pref
*64
200 Wheeling & Lake Erie..
37ft
37ft
200
Do 1st pref
*8% 10
Do 2d pref
6
*4%
48
48
300 Wisconsin Central..
37%
54% Jan
123
25
50
x47
535
25
105
Jan
187*4 Feb
Mch 8
Jan
Dec
Jan
Jan
Oct
73%
3
Feb 18
44% j«an 3
71 Jan 4
2534 Jan 5
62«4 Jan 3
24% Feb 8
6934 Feb 7
pref
Jan
Feb
Mch
Apr
76% Jan
Men 4
Jan 6
80
71% j’ly 8
60% J’ne 13
37
J’ne 6
City Rapid Transit
100
51
25% Jan 11
G27g Jan 12
J’ne 30
J’ne30
J’ne 29
J ’ly
109
73.
68
Jan 15
ighesi.
91%
166% Jan
3% Dec
124% J’ly 8
101% J nel4
88% J’ly 5
9234 J’ne30
28% J’ly 6
St L & San Fr. 1st pref..
208
148
I437g Jan 3
80% Jan 4
18% Mch 22
97% Apr 14
Feb 14
126% J’ne 30
93
J’ne 30
114
MchlO
138% J’ly 6
Do 2d pref
St Louis Southwestern
Do pref
Southern Pacific Co
Southern v tr cfs stmpd.
Do pref
do
'T'exas & Pacific
JLhlrd Avenue (N Y)
Toledo Railways & Light
Toledo St L & Western
173%
o
34% Jan
34% Jan
5234 Mch
105
Reading
1st pref
66
72
27%
8%
2d pref
3
3
3
Mch 21
Jan 3
Jan 3
Jan 27
I834 Jan 3
130
00
2d pref
73,350 Rock Island Company
Do pref
4,300
4,425
41% 43%
700
*29% 30
900
70% 70%
112% 115 163,110
22
23
7,400
3,250
5378 55
3,200
27% 28
8
3,710
9%
7%
6%
2,300
23%
1,800
227ft
1,500
4934 49%
27%
*7%
620
62
84
66
28% J’ly
64
J’ly
5434 J’ly
200 Plttsb Cln Chic & St L_.
Do pref
41%
2934
*65
*4
76
J’ly 6
J’ne 30
J’ne
144
8tiN> May
59,841 Pennsylvania
40%
2934
69%
3%
8%
327ft
6
185
J’ly
Pacific
Co
Do Coast
1st pref
150
800
83
81
97% J&n
100*4 Jan
107D Jan
103D Feb
91 ‘ Nov
67
Jan
Mch
zlG5
577r Feb
70
Nov
31% Dec
58-% Dec
Feb
141
158% Mch
6634 Feb 26
J’ne 29
Do 2d pref__
2,960
30,450 N Y Central & Hudson.. 110%
N
Y
Chic
& St Louis
100
55D
Do 1st pref..
20
§101
Do 2d pref
823j
149
550 N Y N H & Hartford....
Subscription receipts h.. 'll 43
2,020 N Y Ontario & Western.
4034
95
2,100 Norfolk & Western
Do adjustment pref
88
113
23,620 Northern Pacific..
105
*62
35%
41%
89
25
63
17
90
96
104
l38i4J’ly 6
Chatt
<fc St1st
Louis,
Nash
at Rys
of Mex
pref
Jan
Mch
215
Jan 10
Jan
Jan
Jan
il
60% Jan
Feb
56% Jan
4
53s Jan 4
12% Jan 4
92% Mch 18
J’ne 4
J ne 30
Apr 30
2014 J’ly
Lons Island
Do
225
May24
May24
J’ly 6
x60
15
45
60
...
LakeDoErie
& Western
pref
-
64%
158%
172%
182%
4518 Feb 8
J’ne 30
15
33
J ne30
69
J’no30
City Southern..
pref
Jan
Jan
Jan
Apr 28 162% Feb 2i
Apr 25 §170% Feb 18
16
pref
7
6634 Jan
Apr
367g Jan
125^4 J’ne30
9,600 Louisville & Nashville
830 Vf anhattan Elevated
720 lYLinneapolls & St Lou's
Do pref.
10
3,200 Minn St P & S S Marie.._
Do pref
Do leased line ctfs....
100
14,200 Mo Kansas & Texas
Do pref
500
9,610 Missouri Pacific
65
157% 1593s
89% 897ft
25
25%
53% 54
16% 17
34% 353ft
42
42%
15484 159
71%
7534
11178 H3%
21-% 22%
53% 53%
88ft
6%
23%
5%
22
88
94
31
Do
133
69
*147% 150
43
98
9734 9734
*88
93
*88%
116
11778 119
*99
*100
106
*85
*85
110
*100
*100
103
1273ft 1283ft
143
*2634 27%
112% 114
427r
*94
*105
62
17
45
66
126% 128%
*145
*87
61%
144
29%
54
27
53
26
8
50%
*30
27%
11134 H3%
110
92
28%
125% 128
27% 27%
57%
*100
*85
75
Do pref
200
IT' C Ft S & M tr cfs,
8
09
J’ne 27
102
86
Illinois Central..
74
*55
65
6934
6
*15
*35
*60
141
65
61%
167g
3378
*61%
32%
133
70
51
167ft
3334
*69
28
12434 126
*142
*87
32
*60
55
*126
*66
50
70
312
92
l2%J’ns 2
88i2 Jan 20
94% Jan 25
Do pref
1,100
...
11,500
nterbpro-Metropolitan
_
Do pref.....
15,150
Iowa
Central
1,100
14278 145% 579,480
109% 1133ft
2134 22*">8
28
12934 130
18
185ft
deb ctfB
Jan
5
198% May25
Apr 28
J'ly 1
J’ly 5
23% J’ne30
39% J’ne30
30% J no 29
120% J’ne 30
45
J’ly 6
Havana Electric....
20
82% May.l
11334 J’ne30
145
J’ly 6
13334 J’ne30
.......
10 Green Bay & XV,
200
Do pref
200
400 dock In? Valley
*85
*92
31
417r
29%
10
*47
27
70
52%
04
J’ne 30
J’ne 30
Do pref
203
Chic St P Minn & Omaha
140
Do pref
§160
Chio Un Trac ctfs stmpd
2*2
Do pref ctfs stmpd,._.
5%
Cleve Cln Chic & St L
7434
Do pref
100
Colorado & Southern,...
54
Do I t preferred......
75
Do 2d preferred
74
I Delaware & Hudson
155
kTe<aware Lack $ West- x522%
Den ver & Rio Grande—
27*8
Do pref
66
Detroit United...
59%
Duluth So Shore it Atlan
10
Do pref
22
Mch
137i2Jan
H9%Jan
647s J'ne27
6,900 ITrie
1,000 Ti Do 1st pref..
Do 2d pref
100
17,250 Great Northern pref
Iron Ore properties
17,410
14178 144%
-39%
29%
5534
*8
63
17
45
66
32
1261o
700
475
*85
94
4134
2934
73
1
27%
253ft
42%
*
3334
75
12
23
*
17
*69
27
*61
*15
*35
*58
J’ly 6
1043j J’ne 30
89
J’ly 8
68% Feb 7
176 *4 Feb 8
65
Apr 25
260
J’ne 3
7012 j’ne30
2434 J'ly 7
.
88
94
31
75%
23
1
116
28%
.
a
126% 128%
94% 94%
72
*55
156% 160
89
89%
25% 25%
49% 50
16% 17%
34% 37
42% 42%
*62
69%
4%
*3%
•
93
67
7%
7%
7%
634
24
22%
49% 49%
10634 107%
1
a
9634
*92
11234
27%
95
124
*141
42
42%
108
110
10S
*105
•
1
1
89%
*85
*100
1
•
a
110
*99
a
■
95
120
6034
115% 118%
1
71
110
22
55
41
32
124
52
267ft
11234
*87%
•
1
647ft
50
133
70
27
41%
96%
97%
93
119
108
110
108
77%
1
97%
145
4234
75
1
150
88
32
6034
;s
29%
9
*
149% 149% *145% 150
*61
40
l
*126
*66
27
111
*100
*85
•
1
28%
647ft
5434
•
2934
24%
52%
27
♦40
12634
123
*140
88
1
a
26
40
§40
a
«
51
138% 1407ft 140% 141%
124% 128 *125 130
25
95
32
1
a
25%
33%
12478 125%
3384
63
15
95
116
887ft
1
•
*22
41
17
2878
12734 129ls
95
*105
140
17
34
75
15
*32
*69
110
92
150
144
115
*100
*85
*102
*1034
24
127% *126% 130
177ft
1734 18%
47% 49%
48% 4934
50%
26% 273g
111% 114
6034 61
417ft
96%
*87%
—
107ft
J'ly
23
45
Lowest
7212 Mch
124'sJan 3
10414 Jan lo
91-34 J’ne 30
x97
104
_
300
36
4Si*> Feb 23
i
....
Big first
Feb 25
25
747ft
20,675 Brooklyn Rapid Transft.
188% 1895ft
8,025 / Canadian Pacific
*G0
YCanada Southern
72%
*265
285
285
Central of New Jersey
74%
72% 75
35.000 Chesapeake & Ohio
26
2434 *24
450 Chicago & Alton R R
♦
09
69
Do pref
24
24
2334
1.100 Chio Gt Wes; trust ctfs
Do pref trust ctfs
457s
46% 47
1,030
11934 11734 122
dcago M'lw & St Paul—
61,755
146
Do
147
14634
pref
1,800
141% 141% 143
3,975 Chicago & North Western
127
17
65
59
133
70
*
41
*30
33%
125%
60%
*117%
33%
*100
*85
150
24%
97
45
65
125
*20
*30
127
*144
26%
41%
K
14034 144%
CO
107ft
*21
97%
18
34
75
27%
a
—
11
22
*
130
18
128
17
1
H4
125%
53%
1234
95%
10%
22
24
*38
*30
123
45
Railroads
A nn Arbor
V.
Do pref
Atch Topeka & Santa Fe
Do pref
,
Atlantic Coast Line RR_.
'
100
1
a
Lowest
Baltimore
& Ohio
Do pref
Kang' for fretious
year (1909)
On
__
?00
210
*
7484
110
*
105
55
78
75
159
525
3%
910
7434
75%-
*
•
141
210
150
170
23%
118%
115
145
139
115% 118%
145*4 147
a
a
23%
§45
96%
99
*88
72%
185% 187%
*
72%
*28
70
1067ft 107%
106
108
1
July 8.
’
100
108
*265
290
285
*265
*265
72% 75%
7034 73%
7234
27
27
2434
§24% 24%
*
*
69
70
•
1
a
95%
99%
1
a
c
36
72
1
a
a
*28
*65
106% 10734
72%
a
•
33
72
93%
99% 99%
107*4 111
186
1
a
*28
*85
72
97
*87
1
Thursday
July 7
.
+23
+55
;
t
Wednesday
July 6.
Frida
Yearly
I’AGES
96
Dec
Sep
Deo
Sep
Deo
Sep
Sep
Aug
117% Deo
81
Dec
9434 Deo
74
Deo
60*4 Sep
353g Deo
82
Dec
139% Aug
Aug
Deo
Aug
Jan
Jan
547g Oct
74% Jan
116% Dec
34
75%
40%
42%
15%
219
Aug
118% Aug
47
77
SeD
Sep
27% Dec
6134 J’ne
127g Jan
257ft Jan
15% Jan
637ft Apr
BANKS AND TRUST COMPANIES—BROKERS' QUOTATIONS.
Banks
Eld
Banks
Chatham
Chelsea Ex|f
Chemical
Citizens’ OU
Ask,
New York
_.
Aetna
America H_.
Amer Exch.
Audubon
175
595
235
Battery Pk.
120
375
.....
BoweryU
180
..
100
2421 ■>
105
130
City
j
^
Coal & Iron
Colonial H._
BUI
Ask
325
200
430
155
370
335
150
350
445
160
380
105
BronxBoroU
300
Bryant Pk ii
190
200
155
140
170
425
180
145
Corn Ex U
East River.
—
320
115
125
175
^50
Fidelity H..
H Ifth AveH.
105
4100
4500
Bronx Nat.
Butch
Dr
Century II—
Chase
.....
f
m
Columbia |j. 340
Commerce
1202
.
t203
326
175
Banks
Fifth
Bid
Ask
300
875
150
350
900
105
First
14th Sttl—
Fourth
1184
320
Gallatin
290
Garfield
Germ-Am 11 140
Germ’n Ex|| 4S5
Germania U- 550
150
Gotham
Greenwich H 255
Hanover
t625
Imp & Trad 540
...
Banks
Irving N Ex
JeffersonU..
Liberty..__
Banks
Bid
Aj*
Banks
Bid
Ask
210
185
Mutual A...
Nassau 11...
285
240
210
900
320
295
200
225
165
105
390
400
135
275
175
230
275
300
105
Prod Exch H
Reserve
Seaboard
Seoond
Sherman
State H ....
12th Ward.
23d Ward..
Union Exc.
Wash H’ts H
West Side
yorkvilie If.
Mark’t&Ful
Mech&Met’s
255
585’
Mercantile
Meroh Exch
265
Merchants'.
Metropolis 11
560
Mt
155
160
175
390
200
250
Lincoln....
345
300
150
Manhattan^
.
...
Metro pol'nil
1
or at auction this week,
Ask
175
625
400
320
250
l p
1 Sale at Stock Exchange
Bid
205
ft First installment paid.
MorrisII.
New Neth’d
425
335
255
260
160
170
NewYorkCo
New York.
N’ht &DayH
19th Ward.
Northern
179
Park
400
FaciftcU——
23 0’
M25
People’s U— 270
Phenlx
26'd’ PlazaH
190
625
...
....
335’
240
335
280
200
100 snares. IjState banks, a Ex-dlvidend and
Sold at private sale at this price.
* 2d paid.
n
..
ij
115
425*
290"
140
140
160
275
650
500
rights. t> New stock.
y 3d paid.
•••1
.Clew York Stock Record—Concluded—Page 2
80
HP ST
Saturday
Monday
July 4.
July 2.
LOW B ST
AN L)
Wednesday
July 6.
Tuesday
July 5.
Sales
PRICES
SALK
Range Since Januan i
On bans of too-start loti
Louts'.
inuustri.Iu: Miscella.icou
*250
819
29*4
575s
38
*94
2934
*90
758
67*2
49
110
59
102
*225
5
*3*2
8I9
2934
60*4
*27
38
38
*99
57*8
102
30
7=8
C034
29*2
23
263s
3S34
27
40
22
12
26
*4
*30*2
*85
66*4
100~8
*260
100
*51
1234
38*2
85
30
85
6934
6534
6812
101
285
100
53
50*9
*
130*2
*3
*28*4
37*9
26
54
132
11
30
31*4
*5*9
25c.
91*2
36*2
*22
*
129
*8
*28*4
30*2
105
32
104
3019
612
8
1
I*
27*2
a
o
1
>5
w
§
Q
S?
m
O
a
a
a
.4
o
43*8
Q
55
W
O
£
27"s
*25
35
67
*55
14019
140
93
9-3.1
120
120“g
4Io
410
16*i ICI9
10
10
49 '
*48
Q
V,
12~8
63
81
SI
96*4
84*4
98*4
8414
*73
101
w
o
*118*4
K
*15
*86
w
27*8
*25
*55
139
92*4
>|e
*4*9
16
*9
*48
*42
*79
96
84
4334
75
101
123
18
100
70
75
*100
76
65
23*2
24*8
6934
*3*2
*10
37*2
108
*74
553s
102
70
6
21
383s
7134
11378 114*8
40
407s
55*2
54
25c.
25c.
6
31
86
70
101*4
92
92
2634
*92*4
37*2
27
*_
13212
*9*2
*28*4
32*4
2734
*25
*55
93=8
*4*4
5*4
16
10
50
16*9
*919
*48
44
433s
*7978
82
97*9
84
75
107
435r
82
9634
9734
*84
*73
86
75
900
600
502
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t loo
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pref
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ou
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Westingh’seEl&Mfg
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orot
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214 Pullman Company....
100 Quicksilver Mining
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AV
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210
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8
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North American Co
new
3
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107*4 Nov
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stock Tunnel.Par $2
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125
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4,135
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25*8 J’ly 5
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6
4,300 dAnacondaCopper Par$25
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100
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1,575
1,000 American Ice Securities.!
900 American Linseed
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4,750 American Locomotive
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American Malt Corn
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Lange tor rrenous
Tea/ „iy09>
EXCHANGE
Week
Shares
Friday
July 8.
Thursday
July 7.
blt)C Kb
NEW YORK STOCK
O'
[VOL. LXXXXC.
Feb
04*8 Oct
131
Oct
539*8 Feb
40<8 Feb
114
Jau
1)67*4 Nov
6038 Dec
Feb
Feb
Jan
Jan
Feb
Feb
Mch
757s Sep
37*4 Nov
yi*4 Nov
57
6
45
300
04
74
110
128
670
Dec
Dec
85*4 Nov
90
145
iUlff
Sen
BANKS AND TRUST COMPANIES—BANKERS' QUOTATIONS.
Hanks
Brooklyn
Broadway T
110
155
Manufac'rs'
Mechanics'Ti
Montauk
Nassau
l
125
115
415
240
----
....
>;
People’s
Prosp'ctPk^
Terminal TI
290
HlllsideT]
Homestead^
>
l:
245
250
150
270
Bid
Brooklyn
Nat City...
North Side T
375
Brooklyn ft_
Coney Isl’df
First
Banks
Ask
hut
295
150
15S
150
-
Ask
305
180
,
350.
Tr
B’way Tr__
640
145-
Bid,
120
Carnegie
Central Tr 100J
Columbia
275
Commercial
120
Com wealth
150
300
Empire
Eqult’ble Tr 465
Farm Lo&'l 1700
Fidelity
207
Fulton
290
160
90
365
660
____
t.
■
Irust Co's
Guar'ty Tr.
130
1025
290
125
..
310
485
1740
215
*-•
150
T.
’
Ask
__
Irust Co's
N Y CUy
A tor
Bankers'
Irust Cod
N Y City
»iV".r
Guardian Tr
Hudson
Knlckerb'kr
As*
850
175
_
_
170
300
280
140
375
700
Law T I&Tr
Lincoln lY.
Manhattan
Mercantile
Bid
825
•
'
As*
655
105
....
* rust
Co's
Brooklyn
Brooklyn Tr
500
.
Westchester
Windsor
375
150
350
*
12J-*
__
f
.
.
■ w
-V.
V i_, *,
130
.
«
...
__
■
Washington
^
'
1
*8id and asked prices; no sales on this day. 4Less than 100 shares, i Ex¬ ■rights, b New stock c Ex-div aud
righ ts, d Now quoted dollars
)E> stock divide ad
ISnlc at Stock Exchange or at auction this week.
HBanks marked with a paragraph (fi> are State banks.
Bid.
410
130
Flat bush
200
Franklin
220
Hamilton
270
Home
108
Kings Co
500
L Isl L & Tr •305
Nassau _.i_ 170
300'
I'eopie^s
Queens C6. 115
Wlliiamsh 'c
Citizens'
410
135J
1375
460
475
Unit States: 1200
1225
Van Nordsrt>J ...^ 235 *
-
-
Bid
645
400
49 J
340
Tr Co of Am
Union Trust
US MtgA Tr
400
■
Trust.
Standard Tr
TitleGu* Ti
'*
I'r:
V
Savoy
173
310
285
145
740
Metropol’t'u
635
Mutual _£i_ >130- •-C,
Alut Aiince
X
132*2
NY Llfe&Tr 1100 • 1120
_
I rust Co's
N
oer
•:3)
140
225
23u
312
180
315
125
100
share
UOMar? Per snare.
-
New York Stock
Jan. 11909, the Exchange
Exchange—Bond Record, Friday, Weekly and Yearly
method of quoting bonds was changed, and prices
all—“and interest” —except tor income and defaulted bonds.
are now
09
BONDS
N. Y. STOCK EXCHANGE
wrkk ending July 8
July 8
Bid
Government
U.
U
U
U
U
U
U
U
U
8 38 coupon
fcl918
S 3s cqu small bonds..LT918
S 4s registered
1926
1925
2s./cl 930
Since
o'o
January 1
High A’o Low High
100% 101%
100% 100%
101% 102%
101 % 103
2 102 4 1024
1 114*8 U5%
114 4 115%
Low
Ask
Lange
T’ne’l 0
100% 10i% L)1
100% J’neTO
100%
1014 102
1024 J’neTO
1014 102
1014 J’ne’10
1014
1014
114*6
114*4 116
114*6
1144 1154 1144 J’ne’10
Mar’09
101
100% 101
S 2s consul registered.dl93u
S 2s consol coupon....(U930
8 3s registered
fcl9l8
8 4a coupon
S Pan Can 10-30 yr
Week’s
Lange or
Last bale
Price
hriday
....
....
•...
....
8
94%
944
1 94 4 Salt
94%
X 94^ 94% 94%
90
1 894 904 90
103
103
1102 4 103
96%
96%
X 964 97 4
96 *4
X 964 97 4 96%
95% 97 4 96 J’neTO
1954 J-D
XT hese are pr ices 0 n the b
23
Gold 4s ol 1904
City Securities
N Y City— 44s recta
1900
1959
4% Corporate Stock
4% Corporate stock
1958
New 4 4a
1957
New 4 4a
1917
4 4% Corporate Stock ..1957
4 4% assessmt bonds
1917
4% Corporate Stocit....l9o7
Y
N
State—Higliway 4s.. 1958
So Carolina 44s 20-40
1933
Tenn new settlement 3a.. 1913
Virginia fund debt 2-3a...l99i
96%
95%
94%
93% 95%
88% 92 *y
DO 4
8
2
2
5
2
97
1014104
1196% 97%
96% 99%
94% 974
....
as is
M-N
M-N
M-N
M-N
M-N
M-N
M-N
M-S
103 4
984
99
113*4 J’ne’09
1024 Jan ’09
964 954
96
904 Jan '10
J’neTO
45
45
103
102% 103 ^
78 106% 110
4 102% 104
24
98% 100 4
....
103
103 4
95 4
40
3
94%
90%
....
96
9u%
40
66
Craig Valley lstg 5s
Laiiway 1st lien 34s... 1950
Registered
I960
Clue Burl do y—Den v D 4s 1922
Illinois Div 3 4s
1949
AefiDei&Huu
Alleglieny Valley bee Penn KB
Alieg <fc West
bee Bull K & P
Ann Arbor 1st g 4s
/il995
AtCii T<& S Fe—Gen g 4s. 1995
Registered
1995
Adjustment g 4s
/tl995
Registered
41995
%- J
A-O
A-O
Nov
Nov
M-N
J-D
J-D
J-D
J-D
F-A
F-A
M-S
A1995
Stamped
Conv 4s issue of 1909...1955
Conv g 4s
1955
Conv 4a (wnen iaa)
I960
10-year conv g 5s
1917
Debentures 4s Series J. 1912
Series K
1913
East Okla Div 1st g 4s..1928
Short Line 1st 4s g
1958 J-J
S Fe Pres So Pli 1st g 5s. 1942 M-S
■»
See L & N
Atlantic Coast 1st g 4s.41952 MS
74
75
9b3* Salt
97
Ala Mid 1st gu gold 5s ..1928
Bruns & W 1st gu g 4s ..1938
diaries & 8av 1st g 7s.. 1936
L <fc N coll g 4s
ol952
8av F & W 1st gold 6s..1934
1st gold 5s
1934
SilSp Oca&G gug4s ..1918
M-N
J-J
J-J
M-N
A-O
A-O
J-J
89% Sale
iuT* ici*
102
93Q
106
90
Q-J
J-J
M-N
M-N
J-J
Q-J
1st prel income g
Stamped
114
90S
127
112
J’ne’09
Mar’10
J’ne’10
984 Sale
074
96
1114
120
Oct ’01
89
4 Mar lo
*8*9
87 4
4 Sale
894
1094
yb
5s....pl945 Oct
6s stamped.1
94%
1134117
122%
l 102
104%
69 104% 122%
98% 98%
98% 98-;
97
97%
92 4 94%
69 100
...
.
.
.
.
....
....
109 4
ioy
....
1
92 4
15
112
....
96
112
97 4
32
90
92%
12
97% 100%
96
99%
....
Apr’10
Street Railway
g 5s
lst refund
conv tr
....
****
1*7
894
09%
894 89 4 J’ne’lu
89 4 Apr’iu
Mar’lO
103
May’10
toy
ill
Feb'oV
jlU5% Dec’0»
*112
Nov’09
11041112
H94 Mai’04
98 4 Sep *09
Nov’04
100
J-J
....
Registered
General goia 3 4s
J-J
J-J
J-J
M-S
M-N
A-O
J-J
J-J
F-A
J-J
113% 114%
96
I
96
los
*ioo J’ly’08
H44U64115 J’ne’10
1164
*li64 Apr’lo
70 I 72
Mar’lO
109%
99%
105
96
72
j 72
1044 1 2 104 105%
100% 101%
10041014 101 J’ne’iO
10U4 May’07 !’*.*
1034104 4 104
1
s
!U24ll34
103%109
1044 10a
82
......
113
lo8
86 4 86 4 J ’ue’ 10
85
86
804 Si
79
80 !
814 80
81
1
82
84
88
88
84%
83%
!
79
79
75
80
I
....
2
82
81
110
97
85
72
73
J’ne’lo
70
7 14
75
Oct’09
99
99
86 4
86*4
87
*7*1"
99
87 4
88
1921.A-U
Registered
Sinking tund deb 6s
Registered
19211 A-O
1933 M-N
1933 ‘M-N
98 4
99%
108 4 Oct ’09
97 4
on
28
...Tl-1
91
914
73
77
68%
75
86 4
8j 4
98 4 100%
68
98 4 100
93% 100%
97 4
101
97
101
81
127
-d a>
99
1024
100
102
86 %
127
IU8% 113
’09
112
.*126
J’neTO
126
129 4
114.
100
94
103
98
*89** **93*
102% 1U4
98 4 saio
Dec'uy
i*o*6*‘ i,6’6*%
J’ne lo
Apr ’ i o
93 4 94
103
103 4
J’neTO
98*4
,*103 4 Oct
e5% 86
91% b>aie
1054
*y*5
9b
85%
TOu-feMayTO
'105 May To
May To
113 1112
110t» J’ne 10
*100 4 J ’ly 09
83 I 87%
ar(*4
I 93% A pi’09
'110% May io
......T11 % Aov’09
106
ji06
93%
107% i08
07
110%
106% 108%
103% 103%
il6% 110*4
105*4 106
100
100%
104% 105 4
ill
87
20
106
LOO
105
*109
114*4
p
114% Hi 4
112% 112%
114%
T12*4 Mar’lo
142 4 u eo’02
123% Apr’09
106%
117 4
117%
109 4
lu6
107
1064 1064
ioy 41114
May’ 10
J’iy’o*
iliO
89%
110% 111%
1064 leu’ie
107% Lll
% 113
96 4 101
Mar’lo
May’10
107
107 4
107 't, ii> 5
100 4 100%
J’ne lo
iu6% loo
89
914
21
*100 May’10
1100 Nov’09
'Iu7% Mar’T
106,4
1004
08
s5%J’neTu
9 I4
91 *4
lo7 % Mar'le
*107
J ne’10
106 4
1064 oale jl064
1061-,
1014
1103% Apr’lU
116 4
Tlb*4 May’10
105% 106 (106 J’neTO
103 4 uuy’oy
100 4
1917' J - J
1988' J-J
19881 J-J
1934 A-O
93
112
.
,
99
90 4
Mar’ 1 o
106 4 ill
19241 J-J
97
ill’J
109 4
1144
89
85 %
98% 100
1U8%
103%ill%103%
104 4
193 4
87
83
98*4 May TO
101% Mar’09
97*4 May TO
109% 110
|1104 Apr TO
108
! i 13 4
ill
96
uo%
86 *y sale
110 4 112
Aug’OO
96 4
19
96
98*4 Feb TO
864
87
lib
! 97
J’ly’04
I 97%
97%
2
Coll trust Series H 4s ..1910 M-N
9 7
J 4s
1912 M-N
.1
M -»s
1915 M-N
N 48
1916 M-N
,
0 4s
1917 M-N j
j
P 4s
1918 M-N
71% *alo
Chic R 1 & Pac RR 4s..2002M-N
Registered
2002 M N
Bur C R <fc N— lst g 58.1934' A-O1 107 4 1LA*4
Registered
1934' A-O
GRIP* N W lstgu 5s. 19211 A-O 104
M & St L lst gu g 7s.. 1927! J-D
101
103
Choc Ok 6c G gen g os .01919 J - J
108 4
Consol gold 5s
1952 M-N
99
Keok do Des M lst 5s....1923 A-O
Jlno St xj 6b N O
bee Lll Cent |
j
Jlno St L do Puts
bee Penn Co
I
Jhic St P M do O con 6s...1930 J-D
122% 124%
87
Cons 6s reduced to 3 4s. 1930 J-D
BONDS—Continued
99
101% 101%
92
95%
99**j J’ne’10
99
122
105 4
114%
11241124
101
1014 101 J’ly TO
97 4 98
97%
wY %
101 4
101% J’ly To
82 4 83
82 4
02 4
120
127% 127
Apr’10
...............
g 4s ....'
102
lll
91*4 Deo’ua
987b Sale
104*4
98 4 1014
9/
87
1004 101%
-day '09
Jan’09
J’nelo
90
sale
1S86-192UP-A
1987* M-N
Debenture os
Refunding
11)84
85
904 J’neTO
1134 Keb’05
93*4 914MarTu
94
87 4
Registered
General gold 4s
Registered
125%
loo 4 1014
lOO
100%
85% J’ne’10
97
92
1886-1926 F-A
incouies
1911 :M-N
Chic Rock lsi & Pac 6s...19171J-J
116%
1 LG%
90
108
90
110%
954
istgOs
100 4 May’10
100
May’10
....
82
Registered
,pl987 Q-F
Sulking fund 6s...1879-1929 A-O 110
Registered
1879-1929 A-O 109
Sinking lund 5s...1879-1929 A-O1 105
Registered
1879-1929 A-O 105
;;;; r;;*;;;;;;;
llo
103
....
111
-
91
121
J’ne’10
100*4 May’10
lo2
1044 102
1114 111*4
111*4
112 4 Jan 'lv,
100
1004 101
100%
102% 101% J’ne’io
92
924
92*4 ^ale
89
85 **i 89
Apr TO
82
bo
85% J ’ne’j.0
A-O
LOU18VN A do Cii 1st 68.1910 J-J
Chic Ind 6b Sou 50-yr 4s..1966 J-J
Clue Mil »te St P term g 5s 1914: J-J
General g 4s series A..el989 J -J
-J
Registered
e!989
General g 3 4s series B.01589
J
j-j
25-yr del>en 4s
1934
Chic do L Su Div g 5s
1921 J-J
Cluo do Mo Riv Div os...1926 J-J
Chic do P W 1st g 5s
1921 J-J
Dak do Gt So g6s
1916 J-J
Far do Sou assu g 6s
1924 J-J
Lacrosse do D 1st os....1919 j-j
Mineral Point Div 5s....1910 J-J
So Minn Div 1st 6s
1910 J-J
Wis do Minn Div g 6s. ...1921 j-j
Mil & No 1st M L 6s....1910 J-D
1st consol 6s
1913 J -D
Cliicdfe North w cons 7s.... 1915* Q- F
87 4 90 4
lu3
Iu3
;liU 4113 4-
110
103
120
Jan’lt.
107
854
Q-F
bee Erie
Clue in do Louisv ret 6s...1947 J a
Refunding gold 5s
1947 J-J
Extension 4s
Nov’05
J an ’ 11
High
120% 125
Q-M
Chicago <& Erie
93
39
8d%
1164 U44 Feb’10
109 |107
May’lo
964......
95
99
98%
98%
86
92
97%
97%
Jan ’io
Dec’09
94 4
94 4
044 May TO
94 4
y4 4
71%
83%
94
94
4
93 4
Aug’09
71%
72*, 677
76*4 May TO
113 4 Mar’lo
1204Mar’l>3
111
Nov’05
104
108
May TO
76%
104
108
110
103 % 104
123
123
Dec’03
123
93
4
'104
Mar’10
Feb’iu
101
80 4
113 4114
127 4
Next Page.
Street
103
82
1946
4s....2002
10)
_
.
.
.
.
,
.
....
79%
lUlr%
45-year 5s Scries A,.*,, 1952
...L.,
76
100 4
80
944
Internat Trac coll tr 4s.. 1949
Manila Elec 1st & coll os. 1953
pried Friday; latest this
2 102
103 s
104%
103 4 103 4
82 4 165
814 87
Sals
814
1
101%104
1014
1014
101 4
99 4 Mai’09
102
c
100
105
100
LOU
101
100 4 103
101
100% J’ne’lC
85
84
84% 84% Apr’10
84
J’iie'lo
83% 86%
83 "
82
76
77
J’ne’ 10
77
102% 102%
102
102% Mar’ll
100 4 J’neTO *::: 100 4102
80 4 82%
804 J’ne’tO
82
94 •
93,,
94
Apr TO
83 %
111
78
80%
8alV! 79%
To 1% 77 1010104
Saiv r 101
101% 1U14 -1014 m • i 10 i % 103%
67 % 67 %
67 % Mar’lO
....
Nassau Elec gu g 4s....195]
Conn Ry & L let & ref« 4 4s ’51
Stamped *uar 4 4s
..1951
Det United 1st con g 4 4s.lU32
Havana Elec consol g 5s.1952
Inter-Met coll 4 4s...'...^.1956
Inter Rap T 3-yr conv4%. 1911
'*8*9%
89%
A o Low
M-S
Sinking fund 4s
1919 A-O
Nebraska Extension 4s. 1927 M-N
Registered
1927 M-N
Southwestern Div 4s....i921 M-S
Joint bonds bee Great North
Debenture 5s....
1913 M-N
General 4s
1958 M-S
Han do St Jos consol 6s.. 1911 M-S
Chicds E Ill ref So imp g 4s 1955 J-J
1st consol g 6s...
1934 A-O
General consol 1st os.... 1937 M-N
Registered
1937 M-N
Chic do inu C Ry 1st 5s.l936 J-J
Mich Div
106
107
....
BkCity lst con 5s.1916.1941
Bk Q Co do S con gu
g 5s. 1941
Bklyu O’u El lstg 4-5s.l95u
Stamped guar 4-5s
1950
Kings Co El lst g 4s....1949
Stamped guar 4s
1949
*No
96 4
89%
Since
January l
110 4 107
97
t:
.ilDtEiJiAMEOIJb
Brooklyn Rap Xr
96%
....
Lange
1-e
122% 1204 J’ne'10
1004
Mil L S & West Lst g 6s 1921^-8
Ext So imp siund g 5s 19291 F-A
Ashland inv lst g 6s..1926 M-S
....
income g
90
F-A
1945 M-N
1945 M-N
3d
16
100
95
92
....
93
Sep'09
904
90
914 Oct ’09
99 4
98*
90 4 Sale
lo6
lb i 4
lo* 4
1
os....pl945 Oct
5s stamped ....
6s....pl94o Oct
83 4
98
88
92
89
13
MavTO
96
....
A-O
F-A
2u piei income g
2d pief income g
3a pror income g
pref
....
M-S
1913’M-S
gold 5s
Registered
75
98% 101
....
4«*’ne’i0
93
109
94
90%
954
Can
1st ext 6s
J-J
1913i M-8
2d So
os....................i.bl3
Consol
1
207
964 J’ne’09
120
Ill
95
Mouou Riv 1st gu g 5s..1919
Ohio River RR 1st g 5s. 1936 J-D
General gold 6s
1937 A-O
Pitts Clev do Toi 1st g 6s 1922 A-O
Pitts <fc West 1st g 4s...1917 J-J
Stat isi Ry 1st gug44a 1943 J-D
Beecii Creek bee N Y c do li
Bellev A Car bee Illinois Cent
Bklyu do jiontauk bee Long 1
Bruns tie West bee Atl Coast L
Buiiaio N i
Erie bee e-rie
BuMaio K be. P geu g 5s... 1937 M-S
Consol 4 4s
1957 M-N
Ail do West 1st g 48 gu..1998 A-O
Cl So Mali 1st gu g 5s....1943: J-J
Rooli do Pitts 1st g 6s...1921! F-A
Consol 1st g 6s........1922'J 0
Bull do Susq 1st ret g 4s.d 1951; J-J
Bur C K do N
bee U K U f
|
Registered..
92
109
93
.....
90
/il948 A-O
Oirb do Sliawu bee 111 cent
Carolina Cent SeeSeabAirL !
Carthage & AU bee N 1 Cite ill
Ced It la 1 A N
bee ti C Rdo NI
Cen Branca Ry bee Mo Pac
!
Cent of Ga RR 1st g 5s..pl945
9*76
128
T>ait & Ohio prior i g 3 4s. 1925 J-J
O Registered
/il925 Q-J
41948
Pitts J uno 1st gold 6s... 1922
P J on do M Div 1st g 3 481925
PLE&WVaSysref 4sl941
Southw Dhr 1st g 34s... 1925
41925
Registered
Cen Ohio R 1st cg44a..l930
Cl Lor do W con 1st g os 1933
4
lU4%
106 4
ya 76 Jan ’io
984 Feb’10
Apr’10
97
106 4 Sale
Atlantic do Danv bee South Ry
Austin & N W bee Sou Pacitic
Registered
98
95
J’ne’lo
88
»94
92
Jan’10
89
89 4
113 4 Apr To
101
102
1024
102
Sale
92
92 4
76
75
*u
by %
Atl Knox & N
Gold 4s
120
120
Ills Div 4s
1949 J-J
Iowa Div sane fund os..1919 A-O
.
Albany & Susa
115
110
103
121
103
121
1949 J-J
Registered
Alabama
So uyLane
Cent
beeCoast
bee At
la ba Alidl
....
....
1940 J-J
Potts Creek Br 1st 4s..1946
R 6c A DIV 1st con g 48..
1989
2d consol g 4s
1989
Warm tepr Vai 1st g os..1941
Greenbrier Ry lstgu g is ’40
Clue do Ait RR ref g 3s...1949
or
High
Sep ’09
I047e J’ne 08
....
*
M-N
Registered
1.939 M-N
General gold 4 4s
1992 M-S
Registered
1992 M-S
Convertible 4 4s (wliis). 1930 F-A
Big sanay 1st 4s
1944 J-D
Coal Riv Ry lst + u 4s ..194 6 J -L>
98% 100%
98% 100 4
17 106% 109%
Week?&
A.sk Low
92
90%
M-N
Con ext guar 4 4s.....yi91o
N Y do Long Br gen g 4s 1941
Cent Pacitic
bee So Pacilic Co
CentVermont 1st gu g 4s.el920
Chas do buv bee Atl Coast Line
Clies do Ohio gold 6s
a,1911
Gen funding & impt 5s. 1929
1st consol g os
1939
194
30
99*4
98 4
6s delerred Brown Bros ctfs.
99
99
1064
J’ly To
1064
107
Salt
Sale
1067e
1004
July 8
100*8
5H
0/ $5 to £.
Mange
Last bale
100
108
J-J
gen’igold 58.1987 J-J
Registered
n 1987
326 J 00% 101%
Price
Friday
Bid
J-D
J-J
J-J
Am Dock do imp gu 5s.. 1921
Le do Hud R gen gu g 5s 1920 J-J
Leli do Wilks B Coal os.. 1912 M-N
State and
100% Sale 100*4
984
984 Sale
99
994 98%
1064 1064 JM>6^
103 4 102%
103
O
CentotN J
....
96%
97
X 96%
-o
St
Cent of Ga KK—(Con)
Cliatt Div pur mon g 4s. 1951
Mac do Nor Div lstg 5s. 1946
Mid Gads Atl Div 5s....1947
Mobile Div lstg 5s
19*6
Cen RK do Bof Ga coi g 5s 1937
i'^poien Government
Argentine—Internal 5a ol 1909 M-S
Imperial Japanese cioveruin't
sterling loan 4 4s
1925 FA
2d. senes 44s
1925 J-J
1931 J-J
Sterling loan 4s
Repub ol Cuba 5s exten debt.. M-S
San Pauit) (Brazil) trust 5a 1919 JJ
U S ot Mexico s 1 g 5s ol 1899 Q-J
'S
BONDS
N. TS. STOCK EXCHANGE
Week Ending July 8
-.7.
week?
-
r--
....
-
-98
May’06
••••
1—*
d Due Apr
......
Railway
Met St Ry gen col tr g 5s. 199,7
Ref g 4 s
2002
Bway&7thAv lstogds 1943
Cofifc 9Lh»Avlst gu g 58.1993
Lex Av& P Fist gugos 1993
Third Ave R R con gu 4s 2000
CentTr Co certfs stmpd...
Third Ave Ry 1st g os. .1937
N Orl Ry & Lt cen 44s ..1935
St Jos RyLtH & P lstg 5s’37
St Paul City Cab con g 6s. 1937
Tri-City Ry & Lt lst s f 58.1923
U nderground of Lou os... 1920
4 4s
eDueMay
6s. 1
gDueJ’ne
80
....
......
...
....
M-S
J-J
....
j-J
85
J-J
M-N
J-J
A-O
M-N
J-J
.
ADue j Ty
..
M-S
1933
1948
Uuiou El (Chic) lst g 5s..1945 A-O
United Rys St L lot g 4s. 1934 J-J
United RRs San Frsf 4s. 1927 A-O
income
75
82%
764 J’ne’10
47 4 J’ne’ 10
474 54
98 4 102
102 4
184 J’ne’10
96
102
96
M uy TO
100
94
96 4 99
9/
94
99
Apr ’ 10
64
69 4
61
May TO
68%
63 % Sale
62%
b3 4 L16 61
1 105 4108%
1054106
105% 105%
73%
F-A
A-O
J-D
974
108
954
834
32 4
,
•
“
teDue Aug
107% Dec’09
97
97
J’neTO
100
98
Apr’09
84364
*"!*.*. *81%
66
Mai TO
Nov’08
8/
98
69 4
oDae Oct
83
324
87
87
96
99
....
•
•
4
1
99
83
86
314
40
65
74
Oct ’08
84
82
65%
p
83
34 4
....
May’lu
65%
Due Nov
i
N0W fork Bond Record—Continued—Page 2
BONDS
N. Y. STOCK EXCHANGE
Week Ending July 8
J-rice
Friday
WeeKfe
Range or
July 8
Lot* Sale
Hi a
<71932'Q-M
Consol 60-year 4s
1962;J. J
Clue A W Mich see Pere Marq
Choc O & Gulf See CKI&P
Oln H A D 2d gold 4'os...1937
Cin D A 1 1st gu g 5s...1941
C Find A Ft W 1 st eu 4s g.’23
Cin i & VV 1st gu g 48.1953
Ind Dec A W 1st g 5s...1935
1st guar gold 5s
..1935
O I St L A C See C U C A St L
Cin SAC See C (JCStL
Clearfield A Mali See BR&P
Cler Cin c A St L gen g 4s 1993
Cairo Div 1st gold 4s....1939
Cin WAM Div 1st g 48.1991
St L Dlv 1st col tr g 4s..1990
Registered
1990
Spr A Col Div 1st g 4s.. 1940
W W Val Div 1st g4s...l»40
C 1 St L A C oonsol 6s.. 1920
1st gold 4s
....£1936
Registered
.£1936
Cin S A Cl con 1st g 5s. .1928
0 C C A 1 consol 7s
1914
Consol sink fund 7s....1914
General consol gold 6s. 1934
Registered
1934
lnd Bl&W 1st pref 48.1940
O Ind A W 1st pf 5s...tll938
Peo A East 1st con 4s...1940
Income 4s
1990] Apr
Clev A Marietta See Penn Bit
Olev A Pitts See Penn Co
Col Midland 1st g 4s
1947
Ooloradj A Son 1st g 4s...1929
Refund A ext 4 Vs
1935
Ft W A Den C 1st g 6S..1921
Colum A Greenv See So Ry
[ Col A Hock Val
See Hook Val
iColATol See Hook Val
Col Conn A Term See N A W
Conn A Pas Rivs 1st g 48.1943
Cuba RR 1st 50-yr 5 g....l952
J-J
F-A
M-N
J-D
Ask Low
122
122
123
i**3
100
112
90
112
90
113
103 V 101
85
107
112*4 114 V
108*a H2
90
93 V
May’10.
May 10
Oot ’00
May’10
101
108
87*4 Jan’ 10
87
105
107
107
Mar’10
107 *a Deo’02
93
93
94*3 Aug’09
91V 94 V Jan ’10
92 78 91V J’ne’10
91
Oct ’07
lb 0*4 96 Dec *09
92*8! 90 May’10
104 V
105*4 Feb’10
92
93*8
94 V
117
87*4
90*a
96 *a
94*3
91*4
94*3
90
90
96*4
jl05*4 105*4
97
98
98*3
98
109*4 Dec’091..
123
125
94
89
54
....
97
J’ne’10
98
Feb’10!..
109 *# Sep ’09..
104
107
January 1
High No Loto High
1 123
123
127
129°s May’09j.
111VU2V 112*4 J’ne’lOi.
108
N. Y. STOCK EXCHANGE
Week Ending July 8
Since
,
|
MiniTlst
Ch St P A
g 6s 1918]M-N
Nor Wisconsin 1st 6s...1930 J-J
8t P A S City 1st g 6s...1919 A-0
Chic A Westlnrl gen g 6s
„
95
Sale
91
54
68
Sale
95
95 V1
96*4 Sale
111** 112
68
95
96
NoV09]
J’ly’08
91
54
89
54
68
68
95
81V
94*3
97 V
99
96*2
94
67
96
111*3 J’ne’10
‘si
111*3 114
'
A-O
100
J-J
May TO
100
100
S3*
J-J
Range
Rid
105
Evans A T H 1st cons 6s. 1921 J-J
1st general gold 5s
1942 A-0
Mt Vernon 1st gold 6a..1923 A-0
Soil Co Branch 1st g 58.1930 A-0
L*argo A So See Ch M A St P
x lint A Pere M
See Pere Mar
Fla C A Penrn See Sea Air Line
Fort St U D Co 1st g 4*33.1941 J-J
Ft W A Rio Gr 1st g 4s...1928 J-J
i i al Har ASA See So Pac Co
*
Tal H A H of 1882 1st os. 1913 A-0
Georgia A Ala See bea A Line
Ga Car A Nor
See Sea A Line
Georgia Pacifio See So Ry
Gila V G A Nor See So Pao Co
Gouv A Oswegat See N Y Cent
Grand Rap A Ind b'es Penn RR
Gray’s Pt Term See St L 8 W
Gt Nor—C B A Q coll tr 4a 1921 J-J
Registered, h
1921 Q-J
St Paul M A Man 4a....1933 J-J
let consol gold
6s......l933] J-J
Registered
1933 j J~ J
Reduced to gold 4hie 1933; J* J
Registered
1933! J-J
~
Dakota ext gold 6a....1910 M-N
Mont ext 1st gold 4s.. 1937 J-D
Registered
1937 J-D
ffi MinnNorDivlat
g 4al948 A-0
Minn Union 1st g 6a.. 1922 J J
MontC lstgu g 6s....1937] J J
or
109
Range
Since
1 ®
©
Last Sale
Ash Low
114
|
■,2~l
Week's
July 8
January 1
Htgfi No Low
Oct ’09
High
....
115
Deo’09
101*3 J’ne’10
114
Apr’05
95
J’ne’08
102
89
101
85
105
86
Mar’98
Mat’ll)
95 V 100
97
J’ly<*9
94 V
ISO
95
94*3
91*4 J’ly TO1..
Sa^e
"""
102 V
86
87
94 V 97 V
94 V 9bV
93 V 100
ibb* 98V J’ne’101....
124V 12 7 *4 125 V J’ne’lO
.|]125 V
132
Apr’09
105*8
1: 104*4
1U5V
104V
1U8V J’ne’U9
100*4
100V J’ne’lO
1U0V
98
98
95 V
9b
Ayr’10
123*4
1U7 V
101V
100*4
100 V Oct ’06
99*4 Jan TO
114*3 Feb’10
96
112 V
130
124
129
99*4
109 V1
90
89
99V
13
129
Feb’10
(136*4 May’OO
IS V 113V Apr’10
UOV 114*a 116 J’ne’09
Registered.
19371 J-J
1st guar gold 5s
1937; J-J
Will A S F 1st gold 5a 193S<J-D
Greenbrier Ry See Ches A O
Gulf A Si 1st ret A tg 5s 51952 J-J
114 V
129
113 *s 113 V
Apr TO
87 V
94V
Han
A St JoSeeSeeN CY BN AH QA H
onaatonio
100V 101V 101
101V
lOuVSep ’08
J-J
J-J
.-
-
F-A
94
1st gold 3 *as
J-J
J-J
1951 J-J
1951 J-J
1951 A-0
102
13
OSVMay’lO
93
A-O
illinois
Central 1st g 4s..1951
Registered.
1951
Dak
A AGtWaco
So seeSee
CM
A St P
alias
MEAT
LXXXXl.
l*
Price
fYidav
h
1
<£v A Ind 1st con gu g
6a..1926
Erie A Pitta See Penn Co
Hock Val 1st oonsol g 4 his. 1999
Registered
1999
Col A H V 1st ext g 4s.. 1948
Col A Tol 1st ex 4s
1955
Houst E A W Tex See So Pac
Houst A Tex Cen See So Pac Co
1
JjVOL*
•3
BONDS
Range
-
1
82
95
99 V 104
96
95 V
104
105V
99 V Feu’09
104
J’ne’10
107 V Apr ’07
92 J’ne’lOj
91
Dei Hack A Western94
Registered
Sep ’09
Morris A Essex 1st 7s...1914 M-N 110*s
109*8 J’ne’10
109 V HIV
Extended 1st g 3 Vs
93*3 May’09
111
1st oonsol guar 7s
V 112*8 H2 J’ue’10
112
1915 J-D
1st gold 3s
114*8
8U
J
sterling
1951 M- S
’iy ’09
127
J’ne’06
Registered...........1915 J-D
Coll Trust gold 4s..
99 V
99
J’ne’10
1952] A-0
1st ref gu g 3 'as
94
85*4
Sep’Ob
2000 J-D
Registered
99
J’ne’09
1952
A-0
N Y Lack AW 1st 6S...1921 J-J 115
117
117
U7
113
117
1st ref 4s
‘97 V 98 V 97V
1955 M-N
97V
Construction 6s.......l923;F-A 107 »* 108
110*3 Feb’10
110*3 110*3]
L.N'G4 Tex gold 4s ...1963 M-N
96 V
99*4 May TO
Term A improve4s....1923 M-N
98
99
93
J’ne’10
97°4 101
97 V 97
Registered
1953 M-N
May’07
Warren 1st ref gu g 3 Vs.200l> F-A
102 ** Feb *03
Cairo Bridge gold 4s....I960 J
100 Apr’09
i*20*
Dei A Hud 1st Pa Div 7s.l917 M-S 116
0
Mar* 10
i*20" i’iovl LoavsvDivATerm
00* 87VMay’lO
g3 *38.1953, J
149
]
Aug’Ol
Registered
1917 M-S 114
Middle Divreg5s
101
123
1921 F
May’99
V 10-yr conv deb 4s.
97*a Salt
97
1916 J-D]
97
102
98*4j
Omaha Div 1st g 3s
77*4 Mar To
1961 F-A
1st lien equip g 4*as ....1922' J-J
101
tit Louis Div A term
101**] 101
100V 103
79v
Dec’u8
g 3s. 1951] J
1st Aref 4s
93
98*s 98 >«
1943 M-N
97 V 100 Vl
08*«
Registered.
1961 J
Alb A Sus couv 3*as
91
91 *i]
91** 94
91
1946 A-O
97*3
Gold 3*38
90
*8*9 i*eb*’*i*0
1951 J-J
Rens A Saratoga 1st 7s.1921 M-N] 122 *« 125
123*4 J’ne’10
123*4 130*4
101 *s Oct ’99
Registered.
1951, J - J
Del Riv RR Bridge See Pa RR
100
Nov'UO
Spring Dir 1stg 3*as...19611 J-J
89*4
92 V Sale
Deny A R Gr 1st oon g 4s. 1936 J-J
92*8
#2*a|
92V 97V
western Lines 1st g 4s..
98
94
Apt TO
1951; tf- A
Consol gold 4*afl......... 1936 J-J
104*3 104*a Mar*lo
103*4 104*3
BeUev A Car 1st 6s
117 VMay’lO
117V
1923
J-U
102
J’ne’101
Improvement gold 5s... 1928 J-D 100 101
101V 105
Carb A Shaw 1st
99
Peo TO
g4s...1932,M-S
91
Sale
1st A refunding 6s
90>s
01
25 90 V 94*3
1955 F-A
Ohio St LA N O g 5S...1951:
114*4 May’10
116V
J-f> 110
Rio Gr June 1st gu g 58.1939 J-D
98
Feb’08]
118
1951 J-D
MarTO
Registered
Rio gr So 1st gold 4s... .1940! J - J
*79** 78 Dec’09
Gold 3*38
90
1951 J -D
Get ’09
Guaranteed
85
1940 J-J
Mar’081
97 V Mar’lo
MemphDiv
1st
g4s...1951
■ J *D
91
Rio Gr West 1st g4s....l939 J-J
91*4 93 J’ne'10
90
94*3
St L Sou 1st gu g 4s....1931 M-S
98
J’ly’08
J’ne’10
84
Mge and col trust 4sA.1949 A-0
83
84V IndBlA West SeeCOCA StLl
Jan '02
Utah Cent 1st gug 4s ol917 A-O
97
lnd Ill A la 1st g 4s
95
95
90
I9601 J* J
May’10
DesMoiA FtD See M A St L
Int A Great Nor 1st
103 V 108 V
1U8V
g 6s..1919 M-N
Des Moi Un Ry 1st g 5s..l917 M-N
110
Sep’04
2d gold 5s
110
lio
1909
M-S
May’lG
94
Dot A Mack 1st lien g 4s.l995 J-D
95
Apr’10
95
97 V
Trust Co oertfs
109
110
V
J’ne’io
|---89
92
Gold4s
90
1995 J-D
91
88
J’ly'10]
3d gold 4s
19 V J’ne’lO)
1921 M-S
19V W
Det So—O S Div 1st g 48.1941 M-S
74
74
Feb’io]
72
74
Iowa Central 1st gold 6s..1938 J-U 103
103
105
103
112
Dal A Iron Range 1st 6s—1937 A-O
109
May’ 10
111
109
Gold 48
M-S
70
75 V May TO
1951
106 *a Mar’Ob
Registered
1937
A-O
!
2d 6s
1916 J-J
an A Mich
See Tol A O C
Dal Short lane See Nor Pao
KOFtSAM See StL A S F
Dal So Shore A Att g 5S..1937 J-J
106*3 108*4 106*3J’n«’10l
106 V 106 V || K C A M R A B NMtitLASF
Kan C A Pacific See MEAT
ast Ten Va A Ga See So Ry
Kan City Sou 1st gold 3s..I960 A-0
73
73
72V 73
118
Dec’09
Elgin Jol A East 1st g 5s. 1941 M-N 107*3 110*4
Registered
63
1950 A-O.
Oot ’00
Elm Cort A No See Leh A N V,
Ref A impt 5s Apr 1950
99 V
A-O
99V
Sfd*
99V
Erie Let oonsol gold 7s....1920 M-S 118*3 122
118*4 May’10
118*4 122 V Kentucky cent see LAN
NY A Erie 1st ext g 4s 1947:M-N
100
J’ne’iu
99*3
100
100
Keck A Des Mo See CH IAP
2d ext goid 5s
105
1919 M-S 103
106V Mar’10
106V 106 V Knoxville A Ohio See So Ry
8dext gold 4*38........ 1923 M-S
99
103
Mar’10
103 V
103
112 V 110*4
110V
4th ext gold 5s
102
1920 A-O
J 2d gold 5s
106*4 Jan »10
g
106*4 106*4
1941
106 V 106 V MarTO
5th ext gold 4s
1928 J-D
99V Feb’io
99*4 9934
North Ohio 1st gug 5s..1945 A-O
109
MarTO
NYLE AW 1st g fd 7s. 1920 M-S
120V 124 Aug’09
L Sho A Mich S See N Y Cent
Erie 1st con g 4s prior.. 1996] J-J
81
81°s sale
81V 36 81
37 V Leh Val N Ylstgug4Vs.l940 J-J
....107 V 105 V J’ne’10
81
Nov’09
Registered
1996; J-J
107
Registered...
1940 J - J
Aug’09
1st oonsol gen Uen g 4sl996 J - J
68*4 Sale
68*4
71
24] 68*4 76VII Lehigh Val (Pa) cons g 4s.2003,M-N
06v 97 V Apr’10
70
85
Registered
s Feb’07
199(J| J-J
Leu V Ter Ry 1st gu g 6s.l94liA-0
114
113V
J’ne’10
Penn coll tr g 4s
85
86
85 J’neTO1
83 V 86*4
1951; F-A
Registered
19411 A-O *"'... 113 V 109 V Oct ’99
67
Sale
68
67
50-year oonv 4s A ....1953 A-O
22
67
83
Leh V Coal Co 1st gu g 5s.
108
Nov’09
1933] J - J 107 V
do
Sale
Senes B.1953 A-O]
61
60
62
821 60
73 V| Leh AN k 1st guar g 4s. .1945 M-S
95 V 93 V MarTO
90
Buff N V A Erie 1st7a..1916! J-D
115V 1137e Mar’iol
navus’s
Registered
1945
M-S
Chic A Ene 1st gold 5s..1982 M-N i
J*neTo!
110
115 1
E10AN 1st pf6s
ni*sii2yui Dec
ibi V Feb TO
1914 A-0 ib'iv
Clev A Malion Val g 6s.
’08
121
Gold guar 5s..
1938] J-J | 111*4
1914] A-0 100 v...... 101*4 Sep ’09
Long Dock cousoi g 6s..1935 A-O
127 Mar*io
127
126
Leh A Hud R See Cent of N J
Coal A RR 1st cur gu 6s. 1922 M-N
109 V1114 Apr'io
114
114
Leh A Wilkesb Set Cent of N J
Dock A Imp 1st cur 6s..1913] J • J
100
!l03*3°ct’09
Leroy A Caney Val See Mo P
N Y A Green L gu g 6s. 1946 M-N
98
106 |l03*s"an lo
103 V 103 V
Dong Dock See Ene
N Y bus A W 1st ref 5a.l937! J-J
10 L V 104 V | Long Isl’d—1st oon g 5S.A1931
1U0V102V J’ne’lO
112
Q-J 110V
Feb’10
2d gold 4*38
1937 F-A
Dec’Od
'100*4
1st consol gold 4s
100*4
ftl931
General gold 6s
1940 F-A’
89 I 89
J’ne’lO
89
93
*
IK
General gold 4s...
97*4 96
1938
May TO
Terminal 1st gold 5s...1943 M-N 105
11US *a May’10
108V
96
100
Ferry goldAVs
1922M-S
100 V Feb To
Regis $5,000 each...1943 M-N
II Gold 4s
93
1932'J-D
99
V Oct ’06
MidRRolN J 1st g68.1910 A-0]
1100*4 MarTO
100*4 lOiV
Unified gold 4s
90
94
93 V MarTO
..1949 M-S
Wilk A Kalstgug6s.l942 J-D
'101V Mar’io
ioivioiv
Debenture gold 5s
1934' J -D
104 V Dec’08
90
92
99
100*4
97
99V
98V100V
87V
88V
*7*7*V *7*7*4
88*4
89
98
98
117 V117 V
99
99
-
114V 119
118
118
**9*7
97 V
V
.
95
98
108 V 110 V
|106*4 112
106*4 112V
19 V 35
>
102
......
106*4
74
77 V
KalAAGR AmLSAMS
East of Minn See StPMAM
....
Lake Erie A W 1st 5s. .1937
....
72
74
99
V108
110*4 112 V
106 V 107 V
108 V 112
.
105V 108V
.....
b*6 V * 9*7 V
in
..
ii6v
93*4
96
■'
-•••••
„„
••••
.
n
-
108v|jj
..
......
101V 101V
112
"96** *9*7V
100 V 100 V
*93 V *9*5**
...
...
3113C£LlAN£OU3 BONDS—Continued
Gas and Electric Light
Atlanta G L Co 1st g 58...1947
Bklyn U Gas 1st con g 5s. 1945
Buffalo Gas 1st g 5s
1947
Columbus Gas 1st g 5s.... 1932
Detroit City Gas g 5s
192b
Det Gas Co oon 1st g 6s..,191fc
A-O
J-J
J-J
F-A
Eq G LN Y 1st oon g 6s..1932 M-S
GasA Elec Berg Co c g 68.1949 j-D
Gr Rap G L Co 1st g 5S...1915 F-A
Hudson Co Gas 1st g 5s.. 1949 M-N
Kan City (Mo) Gas 1st g 5s 1922 A-0
Kings CO El L A P g 6s...1937 A-O
Purchase money 6s.._..i997 a-0
Ed El 11 Bkn 1st oon g 4s 1939 J - J
Lac Gas Lot StL 1st g6s.« 1919 <j-F
Ref and ext 1st g 5s
1934 A-0
Milwaukee Gas L 1st 4s.. 1927 M-N
Newark Con Gas g 5s
194b J-D
*
No price
Neat Page.
on
Gaa and Electric Light
J-D
M-N
112
........
106V 107*8 106V J’ne’lo
66
100
100 V 101
95 V
97
105 V 107 V
64
67
eevJ’ue’io
Apr’10
Sep 'Ub
10 L
ioi V i’oTv
101V JTieTO
61V Oct ’01
98
101
101V
100
Oct ’09
102 V J’ne'10
102 V
97
100
111*8113
90
101
103
99
100
Friday; latest bid and asked
90\
108V
Mar’lC
J’ne’10
J’ne’10
90
Mar’10
101V J’ne’lo
97
101
ill
100
91
this week,
luo
Apr’10
a
Due Jan
101s
tOO
97
101
87 V 90
LOO V105
99*4 101
91
92V
b Due b'eb
J-D
Purchase money g 4s^..l949 F-A
Ed El Ill 1st couv g 6s..1910
1st oonsol gold 5s
1995
NYAQE1 LAP 1st con g 5sl93U
N Y A Rich Gas 1st g 68.1921
Pat A Paa G A E oon g 6s. 1949
Peo Gas A C 1st oon g 68.1943
Refunding gold 6s
103*4
110V115
11
NYGELHAPg 6S...1948
1947
Ch G-L A Cke 1st gu g 5s 1937
Con G Co of Ch 1st gu g 5s.’36
lnd Nat Gas A Oil 30-yr 5s ’36
Mu Fuel Gas 1st gu gos.1947
Philadelphia Co conv 5s ..1919
Syracuse Lighting 1st g 5s.’51
Trenton G A El 1st g 5s..1949
Union Elec LAP 1 at g 5s. 1932
IllCi.
-
d Due Apr
*
»
-
eDue >iay
--
C-
M-S
J-J
F-A
M-N
M-S
A-0
M-S
J-J
J-D
M-N
100
82
ilb
M-S
J-D
JiDueJTy
100
82
100
110
Sale
Sale
Sale
100V
69 100
3
82
100
4 110
83
Feb’lo
tt.
110
98V 1U0V MarTO
*94
115
103
M-N
F-A
J-D
V
98
101
96
97 V J’ly’09
104V Nov’05
116V 118*4 Mar’lU
102 V 102 v May’l)
104 V L03 V J’neTl
103
101V May’ll)
90
94 V Aug’09
101
Mai To
101 v 102 V Apr’ll)
100
MarTO
£ Due Aug
110
96
100
g
....
87
100*4
111V
1U0V1011*
118
....
103V
119
L02V10*
1U2V 104*4
100*4 102
%ttT
101
102
LUO
101
105
100
••••
LOO
100
.
•• •
M*y’05
J&u ’Ob
J’ne’lu
Due Deo
sOotion Sale
i
July 9
New York Bond
1910.J
BONUS
O
N. Y. STOCK EXCHANGE
Week Endin'*. July 8
Long Island—(Con)
1949
Guar ref gold 4s...
g 6s..1911
1st 5 a
1911
N YBdbH B lst con g 6s 193b
N Y A R B 1st g 5s
1927
Nor ShB 1st con ggu6sol932
Louisiana & Ark 1st g 58.1927
Louisv A Nasliv gen g 6s.1930
Gold 5s
1937
Unified gold 4s
1940
Bklyn A Mont 1st
Registered
1940
Sink fund gold 6s
1910
Coll trust gold 5s........1931
E H & Nash 1st g 6s....1919
LCin A Lex gold 4 Vs. ..1931
NOAM 1st gold 6s.. ..1930
NOAM 2d gold 6s
1930
PensacolaDiv gold6s... 1920
St L Div 1st gold 6s
1921
2d gold 38
1980
Atl Knox A Cm div 4s..1965
Atl Knox A Nor Istg6sl940
Render B*tge letsfg6s.1931
Kentucky Cent gold 4s.. 1987
LAS A AL A Al lstg 4 Vs 1945
LA N-South AL joint 48.1952
N Fla A ti 1st gu g 6s...1937
N A C Bdge gen gu g 4 Vs 1945
Pens A Atl 1st gu g 6s.. 1921
8 A N Ala con gu g 6s.. 1936
LA Jeff Bdge Co gu g 4s.. 1945
LNA&Ch
SecOIAL
VfahonCoal See LS&Mb
Iflanhattan Ry consol 4s. 1990
Registered
1990
Stmpd tax exempt.. 1990
McK’ut A B V ties N Y Cent
id ex Cent cons g 4s
1911
1st cons ino g 3s
al939
2d cons mo g 3s trust rects..
Mex luteruat 1st con g 4s.1977
Stamped guaranteed... .1977
Mex North 1st gold 6s....1910
Midi Cent See N Y Cent
Mid ot N J
Bee Erie
Mil L S A W Bee Ohio AN W
MU A North Bee Ch MAStl
Minn A St L 1st gold 7s..l927
Pacific Ex 1st gold Os...1921
South West Ex 1st g 7s.l910
1st consol gold 6s
1934
1st and refund gold 4s.. 1949
Lee Al A Ft D 1st gu 4a...'36
Minn <& bt L. gu See BORAN
M StP<& SSMcong4intgu'38
M 8 S M A A 1st g 4 intgu 1926
Minn Un Bee St P M AM
Ho Kan A Tex 1st g 4s...1990
2d gold 4s.
0i.99U
1st ext gold 5s
1944
1st A refund 4s
2004
Gen s l 4*38
1936
8t L Div 1st ref g 4S....2001
Dai A Wa lstgu g 6s...1940
Kan C A Pao 1st g 4s...1990
Mo K A E 1st gu g 6s...1942
M K A Ok 1st gu 6s
1942
M K A T of T 1st gu g 68.1942
Sher Sh A So 1st gu g 6s. 1943
Tex<& Okla lstgu g 6s... 1943
Mo Pacific 1st oon g 6s ...1920
Trust gold 6s stamped.al917
Registered
gold 6s
40-year gold loan 4s
1st ooU
ol917
1920
1945
8d 7s extd at 4%
1938
1st A ref conv 5 s full po. 1969
Cent Br Ry 1st gu g 48.1919
Cen Branch U P Istg4s.l04b
Leroy AOVAL 1st g 6s 1926
Pao B of Mo 1st ex g 4s. 1938
2d extended gold os... 193b
St L Ir MA Sgen con g 6sl931
Gen oon stamp gtd g 6s 1931
Unified A ref gold 4s..1929
RiV A G DIV 1st g 4s.. 1933
Verdi V i * W lstg 6s.l026
MobJ A K C 1st oonsg 6s.l9&3
Mob A Ohio new gold 6S..1927
1st extension gold 6s../i 1927
General
193b
gold 4s
Montgom Div 1st g 6s.. 1947
St L A Cairo ooU g 4s..el03o
Guaranteed g 4s
1931
M A O ooU 4s Bee Southern
Mohawk & Mai Beeti X <J& li
Monongahela Riv
Bee BA O
IS'
Range or
July 8
Last Bale
Bid
95
1*
Weekfe
Price
Friday
ASM Lou
Since
So
°^C!Q January 1
High
I 96
97
Low
Price
Frida v
Wee Vs
Range or
Last Sale
July 8
Range
LV.
Since
©
2
96
|
January 1
High
94*4 100
2|107 110
....
....
ib’7v
....
•
....
...
......
.
33
$8
....
*•••
2l
....
••••
....
....
97V1
....
....
....
.....
....
• •••
••••••
8
*•♦•••
u.
• ••
....
"°5koui
Si
I--
::::::mvsK
ifa
n
....
......
ti
W
....
.
•. .
....
t
Ulna AW Bee C C C A St L
....
Oswego A Rome
See NYC
pao Coast Co lst g 6s....1946
J-J
A-O
1 107 V110 V
107 **....
108*5 110*4
ll6*s ....
116*3 May’07
109
109
....
....
1
40
....
....
83
....
87V Sale
1997
Deben g 4s
1934
Lake Shore ooU g 3 Vs... 1998
Registered
1998
92
108V110 V
....
93V 94*5
89V 90**
1st consol 4s
1961
New HAD Bee N Y N li A JtJ
N J Juno RR Bee N Y Cent
N Y Bkln A Man Boh See L1
N Y Cent A H Riv g 3 Has. 1997
87V
87*3
92V
80V Sale
80
87V
87 *s J’ne’10
92
92V
79 V
80V
79 J’ne’io
03 V
96V
88V 92 V
101V 102 V
82
86
87V 92
87*a 90*4
92
95V
79*3 82*3
78** 80*4
M1SOEL1 iNEOUS
Coni and Iron
90
o^Vioo
:::::: 8
95
IOO
in.
ioivibav
102 V
102 v
106
88
96 V
94
76
76
107 V Deo’04
96
93
75
102 V Apr’06
107 May’97
105 V Deo’06
83 J’ns’10
78 Feb’07
102 J’ne’U)
103 V J’ne’10
104
J'ly’H
110
100
87
06
Jan ’09
Jan'10
*No pnce-Friday? latest bid and asked. aDne.Tan
Aug’09
J’ne’10
v
102
J’ne’10.... 102
100, V Jan ’i>0i....
on
103 V
106
Fan’lOi.... ioitT iuo**
00
102
09
90
12
i 05 V
05 >5 186 03V 07V
103 V
103 Vi 12 102
101V
I
102V Apr’10
103 V Dec’00
102
103V
103V
I
I
102s* 102V
...
...
Jan’031..,
103 VMay’10
'•06V
103 V104
103
100
...
103 V |
Feb’101
90 V J’ne’06
89 V
33 V
06 V May’10
00
Jan ’lo
91
Deo’09
,103 V 103 V
.
.
,
80V
91V
96
00
00
n
97V
,
Next Page
AJlis-Clialmers lst 6s
Deo’09
97V
97**
96 V J’ne’10
M-N
103
M-S
M-N 1P0V ......
M-N
0bV 90
J-D
05 V Sale
MN
Consol gold 4s
103 V sale
1948
M-S:
▲Reg Vai gen gu g 4s...1942
DRRR A Bgelstgu4sg.’36 F-A1
06
PhilaBai A W 1st g 4s.. 1943 M-N
Sod Bay A So lst g 5s...1924 J - J | 100
UNJ ERA Can gen 4s. 1944 M-S I01V
Penn Co—Guar lst g 4 Vs. 1021 J-Ji 103
105
Registered
1921 J-J I
Guar 3V8 coR trust reg. 1937 M-8
88 V 00
89
Guar3VscoRtr ser £...1941 F-A
Tr Co oerUl’s gu g 3 Vs. 1016 M-N
Gu 3 Vs tr ctfa C
90
1042 J-D
Gu 3 Vs tr ctfs D
19441J -D
04
Manufacturing St Industrial
09VNot’O0
......
102V 104V 102 V J’ne’10.... 102 V 108 V
J-D
X ao of Missouri See Mo Pao
Penn RR lst real eat g 4s. 1923
Consol gold 5s
1910
Consol gold 4s
1943
Convertible g 3*as
1912
Convertible g 3 *38
1915
BONDS—Continued
/
J-D
M-S
F-A
F-A
F-A
F-A
A-0
J-D
J-J
Pocali Con ColRer 1st s £ 5s.’57 J-J
Sunday Creex Co g 6s....1044 J-J
Tenn Coal gen 6s
1951 J-J
Tenn Div lst g 6s
al917 A-0
Birm Div lst consol 6s. .1917 J-J
Cah C M Co lst gu g 6s. 1022 J-D
Do Bar O A 1 Co gu g 68.1010 F-A
1053 J-J
Vlotor Fuel lst s 16a
Yalron Coal A Col st g 5s. 1040 M-S
C
£C
N. Y. STOCK EXCHANGE
Week Endiwq July 8
•
NatRys ot Alexpr 14Vsl957
Guar gen 4a............. 1977
Nat of Alex prior lien 44s. 1926
Debenture 5s
a 1026
Ooi x> A 1 Co gen s I g 6s.. 1943
Convertible deb g 6s....1911
Col IndulstJb coll os gu.,1034
Contin’tal O lst a f gu 6s g.1052
Gr Riv Coal A O lstg 6a.. 1919
Jeff A Clear C <6 1 lst g 5s.l026
Kan<& H C A C lst s f g5s.l05l
-o
-:;.!ll4
g 6s..1923
MOM MW4A11st 6s..1917
TAP Branch 1st 6s....1917
Nash Flor A Slief Bee LAN
Butl<&Susq Iron s 16s....1932
BONDS
Range
Bid
ASK Low
N Y Cent A H K—(Con)
High. A’oi Low Jiifffi
80 V 79
5 78
79
Mich Cent coll g 3*38
82 V
1998 F-A
F-A
79
V Mar’10
Registered
1998
79V 79 V
96
101V Dec’08
Beech Creek 1st gu g 4s. 1936 J-J
98V Apr’K
08V 98V
102
110*4 Nov’06
102*4
Mar’04
Registered
1936 J-J
106
8
2d gu gold 5s
Apr'07
100V
1936 J-J 106
Nov’06
109
84 V
J
100 V
Beech Cr Ext lstg 3 *38 £>1951 A-0
8
97 V Apr’09
Cart A Ad 1st gu g 4s...1981 J-0
93»4! 97 Nov’09
113
113 {113
D *
J-D
Gouv
A
Oswe
1st
gu g 6s 1942
1;
112*4
11634
'114 Apr'10
N *109*4
98 V J’ne’10
Moh A Mai 1st gu g 4s.. 1991 M-S
98V 99 V
114
97*3, J* 96*4 100*3
105
Oct ’02
J
97V Sale
96V
N J Juno R gu 1st 4s...1986 F-A
1.100 May’091
93 V 93 V May’10
J
N Y A Harlem g 3*ss...2000 M-N
93 V *03 V
100*5 Deo'09!
108
Oct ’09
O
NYA North 1st g 5s...1927 A-O
1108*5 J’ne’10;
N
107
N
A-O
Y APulstcongug4s 1993
96V
96V
96V
96V*98V
jlo7V 110
•Ill *4 111*4
D
'111*4 J’ne’io
112
Nor A Mont 1st gu g 5s. 1916 A-0
1
103
Apr’10
N
103 >4 106 1103
106
Pine Creek reg guar 6s. 1932 J-D ♦122
131V Jan ’00
124
Sale 107
119
.J
124V124 Mar’10
R W A O oon 1st ext 6s. A1022 A-0 107
107
125*4
J an ’09
120
IDS'- luo
Jan ’08
-J
117 >4
Oswe A R 2d gu g 6s...sl915 F-A
110
10734 Mar’10
104
J’ne’10
R W A O T R 1st gu g 58.1918 M-N 103
104
104
iiov
J’ne’10
113
114
114
102 V Feb'lo
114
Rutland 1st con g 4 Vs.. 1041 J-J
102
10IV 102 *s
75
68
71
May’09
s
87
86
J-J
86
V
V
May’10
91V
OgALCham 1st gu 4s gl948
01
94 May 10
N
92
J'ne’00
93V 05 V
Rut-Canad 1st gu g 4s. 1949 J-J
116
-o
J’ly 06
St Law A A dir 1st g 5s. 1996 J-J
116 J’ne’09
Jan ’09
110
125
s
104V
2d gold 6s
Feb’08
1996 A-O
07
96
100
102
-J
08*4 97 J’he'10
97 V
102
100
Utloa A Blk Rivgug4s.l922 J-J
Apr’lo
J 104
105 V
May’10
105 V
90
s
90
92 V
Lake Shore gold 3 Vs....1997 J-D
V
J’ne’10,
90V 91
90 V 01*4 91*4 J’ne’10
90
88
-J
02
88
92
89V 88 J’ne’10
Registered
1997 J-D
109
103
J’ne’10
109
93
8ale
F-A
HI
92 V 95V
Debenture g 4s
92V
93
1928 M-S
98
92 *3 Sale
92
02 V
92
J-J
95V
25-year g 4s
1931 M-N
110*3 Mar’io ....| U0V110V
F-A 110»s
Ka A A G R 1st gu 068.1938 J-J
111*«
111
114
Mai’10
110
107
100
Oct
114
’07
F-A
Mahon Q’l RR 1st 6s..1934 J-J
89*3 May’10 ..., b9 V 89 V
100
Deo’09
Pitts A L Erie 2d g 5s.al928 A-0 100
IVI-S
122
130 V Jan ’091
PittsMOKA Ylstgu6s. 1932 J-J
2d guar 6s
1934 J-J 120
95
9 04
94
93 V 94
MoKees A B V 1st g 6s 1918 J-J
A-0
98V
104
Apr'06
Oct ’09
116
Mich Cent 6s
A-0
1931 M-8 109 V
95
Sale
96*5 3b 95
05
108 V.
119
J’ne’06
A-0
99V
Registered
1931
Jan ’lu
99
99
99
4S
1940
98 V 98V 08*3 J’ne’10
Dec’09
96V 98V
J-J
98V
Registered
1940 J-J
27 V 31V
J’ne08
317a May’10
JL A S lstg 3*38
J’ly
1951 M-S
87 V 89 V 87
26S Apr’09
90
87
1st g 3*38
Apr’10
1962 M-N
77
Mar’10
76
91
90
75
M-S
77
V J’ne’10
90V 92V
20-year deb 4s
1929 A-0
80
Feb’08
Bat U A Star 1st gu g 3s. 1989 J-D
Ai-8
100
Alay’10
ioo ioo
98
99
97 V
100*4
97 V100 V
98
J-D
NY Ohio A St L 1st g4s 1937 A-0
100
Dec’09
1937 A-0 ♦97 V
Registered
90
90 J’ne’10
90
92
Debentures 4s
1931 M-N
101
99 V 102 V
West Shore 1st 4s gu...2361 J-J 100V Sale 100
99
Sale
99
99
J-J
99
100V
Registered
2361
131 May’10
131
NYA Greenw Lake Bee Ene
131
j.D 129
....
118 Jan’07 HIj
NYA Har AttNYOABud
A-0 107
i’0’6 v ioi
100*4 J’ne’10
NY Lack AW Bee D L A W
J-D 100*»
104
100
N Y L E A W Bee Erie
M-N
106 104*a J’ne’10
76
May’10
75
M-8 . .... 69V
81V NYA Long Br Bee Cent of N J
6 130 V 135 V
87
Mar’io
132
87
01V N Y N H A H—Conv 6S..1948 J-J 132 Bale 132
J-J] 78
88
40 96 V103 V
Bate
97
Conv deben 3 Vs
96V
97
1966 J-J
98
J’ne’101
116
Jan *10
98
100
03
100
116 116
Housatonic R oon g 6s.. 1937 M-N 112
J-J
107
97
08 V 08 V
98*a Jan’luj
N H A Derby oon cy 68.1918 M-N 100V
J-J
Aug’09
I
NYA North 8ee NYOAfl
11 96 V100
10 96V 9t
N Y O A W ref lstg 4s..pl992 M-S
9634
96*4 97
J-D
97*4 Sale
96V
97
«
82
82
83
82
101V J'ne’06
F-A
V
32 V;
87V
Regis 66,000 only
01992 M-S
1 101
101
103
106
NYA Put Bee N Y O AH t
M-N
101*3 191 H.|
81V 82 J’ne’io
M-S
81V 86V NYA R R Bee Long Island
12 84V 90V NYSAW Bee Erie
84 V 86
84*4
J-J
86
86*3 88 Apr’09
N Y Tex A M Bee So Pao Co
A-0
102
106 J’ne’10
ioo i'0'5
100 101V
101 May’10
M-N
Nor A South 1st g 6s
1941 M-N 100V ....
92*s 92 Apr’10
90
126 V J’ne’io
128
F-A
98 V Norl A West gen g 6s
126V
1931 M-N 123V ...
122
109
126
Mar’10
124 V126 V
108 J’ue’-O
108 113
F-A
V
126
V
A-0 106
Improvem’t A ext g 6s.. 1934
104 107V
128 May’10
123
104*4 104 V J’ne’10'
New River 1st g 6a
M-N 103
124V
1932 A-0 120
98
*’ 98
100 V105 V
99
98
93
N A W By 1st eon g 48.1996 A-O
100
M-8 102 *3104 V 102*3 J'ne’10,
109
97
97
110*4 Apr’09!
J-D
Apr’10
Registered.
1996 A-O
91 v Sale
105
103*3 106 Mar’lOl
Dlv’l 1st 1A gen g 4s... 1944 J-J
105 V
91V 16 91
M-8
93V
99
99
43
108
99
98
10-25
J-D
V
Sale
V
108*3
J’ne’io!
V
111
108V
M-N
V108 V
year conv 4s.... 1932
88
88
1 88
88
Pocah 0 A C joint 48.. 1941 J-D
Sale
M-S 100
101** 100** 100 V a 100 V 102 V
90V
90 V 90V
106
C C A T 1st gu g 6s
J • J 104 V
1UU34 99°3Mar’lo’
M-S
Apr’10
104V106
1922
6 100
95 J’ne’10
92 V
102 V
96
96 V
F-A 100V101
8010VAN E lst gag 4s 1989 M-N
77 V 81V North Illinois Bee Chi A N W
M-S
77*4 ?7**
North Ohio Bee L Erie A W
M-N
18 00
100V 69 99V 102V
06
Nor Pao—Prior lien g 4s..1997 Q J 100*4 Sale 100
MS
90V 92
[
04
99 Mav’lO
99
05
101
F-A
88*4 93V 94*3 Mar’lO'|
Registered
1997
86
70 V Sale
87 V
70
74
General lien gold 3s....a2047
70V 29 70
J-D
80*3 84 V 87 *« May’10!
72 V Feb’lo
72V 72 V
110
J-J
Registered
a2047
97
96 V 97 V
08 ibov
St PauLDul Div g 4s. ...1996
Max’10
F-A
99
99
99
Feb’10
99
113 113
Dul Short L Lst gu 6s..1916 M-8
Feb’iO!
J-J
106
110
C
A
B
A-0 i*06 *3107
106*a 106* ! 12
<jcoHtr4a AesGtNor
116 V J’ne’10
St P A N P gen g 6s....1923 F-A 113 V120
116 V U8V
111 Sep ’0
A-0
117V 117 Feb’10
117
117
83
84 l 2 82
86
J-J
Registered certifies..1923 Q-F
106
110 J’ne’10
87 V
St Paul A Dul lst 58....1931
110
UO
M-N
84*a
84*j,| 3 84
2d 5s
103 V103 V
M-S
103V Mario
102*3 J»n’10 j.... 102 V 102 V
1017 A-O!
consol
1st
96
98
I 96V Apr’10
96V 97V
Dec’06
J-J
gold 4s
1968 J-D
89
Wash Cent lst g4s
117 V 121V
J-D
! 92V Jan’09
117*4 May’10
1948
110
113
Dec’09
117VH7V Nor Pao Ter Co lst g 6s..1933
117** Mar’10
87
00
Nor Ry Cal Bee So Pao
87 May’10
108 V108 V NorWia Bee C St PM AO
F-A
108*3 Mar’10
Nor A Mont Bse N Y Cent
75
'*
•F
06
06
96
J
hio Riv RR See Balt A O
Ore A Cal See So Pao Co
Ore Short Line See Un Pao
S
S
8
O
Jasper Branch 1st
Registered
83
8
v
|
Mont Cent Bee St P M A M
Morgan's La A T Bee S P Co
Morris <6 Essex £e«DelLA Y\
Nash
Chat Agold
StL6s1st7s.l913
1st consol
192b
Record-Continued—Page
Ag Ohem lst o 6s
98
Am
96V
82*4
Am Cot OR ext 4
1936 J-J
1028
Vs
1015 O-F
Am Hide A L lst s f g 6s..1010 M-b
Amer Ice Secur deb g 6s..1926 A-0
Am Spirits Mfg lst g 6s.. 1916 M-S
Thread lst ooi tr 4s..1010
Am Tobaooo 40-yr g 6s.... 1944
48.
1961
deth steel lst ext af 5s..l02fc
Jent Leather 20-year g 5s. 1926
consl Tobaooo g 4s
1961
Coru Prod Ref a f g 5s....l93i
1st 26-year si 6s
1934
Am
83
83
102
104 V
103 V 107
104
107
100
100
"94Vioo"
A-O
nstil sec Cor conv lst g
6s.’27
J -J
A-0
F-A
J-J
A-0
F-A
M-N
M-N
A-O
77
48 76
84V
75V
103
100V 05 100
102 V 100*«
08
06
07 V 07
J’ne’io
06 V102
U
97
06 V
063<
72 V
3
70
*72 Sale 72
73V
94
96
04
May’10
04V 08
90
90** 01 J’ne’io
03V|
18 104*4 109
105
104 V Sale 104V
78
78V 141 76V 85V
78\ Sale
86 V 80>4
86 V
85 V Salt*
86V 17
07 V 192
90
0k
Sale
97V
08V
76V Sale
100
06
....
....
_
^
06 V
04
94V 04V
65
60
EI duPont Powder 4 Vs.. 1936 J-D
6 Due Feb e Due Msy pDne J’ne
A Due J’ly fcDue Aug
o
Due Oot
87
v
79 May’10
94 V Apr’10
04 V J’ne’10
68
69
86 V J’ne’10
_
_
.
....
....
li
....
76V 33V
94
97
03V
88V
67 V
86 V
Due Nov q Due Deo ./ Flat.
74V
88 *•
New York Bond Record—Concluded—Page 4
84
-
:
BONUS
-3,
..
gfl
.
N. Y. STOCK BXCHANQE
wrkr EtfpiNG jolt 8
Pennsylvania Co—(Con)
IS'
Pitts Yds Ask 1st
con
July 8
Last Sals
J j
j-jj
58.1927 M-N
92
98*4
1044
1064
1054
107
108
Series F 4s guar
1953 J-D
C St L & P 1st eon g 5s. 1932 A-O
Fensapola <fc Ati See L & Naaii
Peo & East See C c c & St L
Peo a pex Un 1st g 6s....1921
2U gold 4 *93
..41921
Pere Marquette—lief 4s.. 1955
Ch«fc- W M 6s .{....
...1921
Flint* PM g6a... .....1920
1st consol gold 5s
1939
O-F
M-N
J-J
J-O
A-o
M-N
Pt H uron Div 1st g 6s. 1939 AO
SagTusd H lstgug 48.1931 F-A
Phil jB d W See Penn KB
Philippine By 1st 30-yr s f 4s’37 J-J
Pitts Cm d St L See Penn Co
Pitts Cleve d Tol See B&O
Pitts Ft W d Ch see Penn Co
Pitts McKees * Y See N Y Cen
Pitts Six * L E 1st g 5s...1940 A-O
1st consol gold 58........1943 J-J
Pitts * West See B&o
liending Co gen g 4s.....1997
Registered....
...1997
Jersey Cent coil g 4s... 1051
,
A O
High
A’o| Low
904 99
'
*-
r
1
•
••a
•
•
Og
Apr'07
Apr '04
Oct »08
1054 ***i 1054
J’ne’lO
106**
105%1057e
.....
94
1124 J'ue'05
Mar'io
94
98
94
i
i*il% J’ne’lO
im
112
iYi*4 iVa**
....
Fe
112
904100
1004 Dec *05
75 4 754 Apr’10
101% 1014 Mar’lu
j
100
107
98
94
98
94
■*75 4*79*’
101*4 1024
11141124
:
104% 106
Dec’o
103% 105
Apr’10
riTj
105
105
894
5
88
90
90
......
88
Mi
93%3'ly
1144 112
97% Sale
’■05 4
974-974
074
72
06
96
112
112
Sax Tus * H See Pere Marq
*
97
100
974 974
95
974
o
89
•
94
89
•••
1044
88
854 Sale
r
120
Apr’10
105
J’ne’l
Mar’l
90
_ _ _
120
124
106
1084
9 L 4
90
86 85 4 90
80
116
•
10041004
80
79
98
-
784 Sale
2*7
774
784
1004 Dec'09
95
964
974
90
91
90
90
3
80
76*4
•9*r
764 J’ne’lO
1014 Apr’07
854
104
984—
824
00%
00%
bale
72
79
82
86
93
100
100
100.
100
106
101
12
90
90
97
954
J’ne’lO
914 Mar’io
104
106
874
May" Y(j
Mar’10
Apr’10
90
Sale
964
944
064
884 88
03 4 92
108
106 4
04
*
"
N 1' Air Brake ist conv 6s ’28 M-N
By Steel Spgs 1st s f 5s... 1921 J-J
Bepub I * S 1st* coltr 5s. 1034 A-O
Umoty Bag* P 1st si 5s..l93o J-J
s UeaU»Co8f debg68..19l3
S Realty * YdiHiv deb g 5e’24 J*J
S Rett* Bel ist} sfg 68.1931 J-J
S
U 6S.’18 J-0
s bteeTCorp—t ccup .dltu>3 M-N
SI ld-6(> yr os, (reg ..dl068 M-N
*Nd price
Friday; latest bid
102
89%
95
86
06
944
97
88
90
964
Feb’10
J’ue’iu
17
1
.1
i
•-i
112
Feb’071i
1004
1004
J’ne’lO”;
i—*
1044tJ'ne’08l,
1144Dec’04
93
804
il
i
105
i
100% 1104
i
08%
1194 1194
—-•-
------
116
101
I 90
May’07'i
102
Nov’09
100
'
100
......
88
*"
1094
Mar
70
JA
103
101% 102%
®•••
00
133
100
97
104
06*4
Jan’lu
82
138
133
134
101
1014 101
844 86 J’ne’lO
03
92 4
92 4
Sait.
97
97
96
95 4 May’10
Salt
103
195
b&t«>
98*4
95*4
105
104
J’ne’io
93
May’io
95 '
98, May’10
.
.
10 441054
87
bale
854'87
105. ‘ 105
87
8Y
884 Apr* it
1955
82
147 4
105
804
96 7*
95% 100
95 4 07%
100
114*4
964 084
103 4104
10.2
.
..102*4
105
1074
"
Deo’06
....
i*05 4 *1*07%
91~
"91
....
1054106%
....
io?% i*0*7 4
.
...
12
....
1
109*4
112
1154
984
97
100
100%
109
112%
70
85 4
80
103
86
.103
ibo4 saito
.1 107
..
Sc-p’uj
70
4112%
....
1044 May 10
944 Mar’lu
03
Ayr:10
88
May'10
79 4 May’10
84 4 May’lu
j.j
J-J
994 104%
90 4 94%
92
93 4
....
m mmm
....
J’ne'10
J’ue’10
Oct ’09
•
•••
...
88
90
78%
fcl
t0%
91
83%
87%
100
106
904 102
1004 101
1004 90 *a J’nelO
9841014
101*4
lo2 4 145 10141164
954
954 < 5 05% 98%
J’neiu
95
044 984
1134 1134 1134
6 113% 117
1134
123
•
102 *e bale
95 4 bale
u5 *5, 96
03
•••
....
1034
ll»
110
1 110
35
93
924
aaie
91%
Jan ’09
94
113%
94%
107 4 Dec ’09
105
94 4
gold 4s
Trust Cocertis
1104 108
J’ly’lO
95
82
64*8
Sale
....
77
8i
'...j
i
t
4
38
33
*4*
Warren see Dei Lac * West
Wash Cent See Nor Pao
Wash O * W See Southern
Wash Term! 1st gu 34s.. 1945 F-A
West Maryland 1st g 4s...1062 A-O
Gen * conv g 4s
1962'A-O
Trust Co certfs
1
W Va Cent* P lstg 6s 1911'J-J
WeatN Y* Pa 1st g 5s.. 1937 J-J
Gen gold 4s
1943: A-O
Income 5s
41043 Nov
West No Car Am South By
83
33
Salt.
34
,
....
54
Sale
!
83
1*7
....
100 4 lol
1104 no
Kxten* Imp gold
BB 1st consol 4s
! 34.
....
103
6S...1930, F-A
U04
....
100*4 102
79*4
79*4
1949 M-S
20-year equip s f 5s ...1922 J-J
Wilkes * East See Erie
Wil * Sioux F See St P M * M
Wis Cent 50-yr 1st gen 4s 1949 J-J
Sup* Dul div* term lst4s’36 M-N
03
00
00 4 Sale
89
90'
904
76%
35%
52%
90
01
114
124
884
82%
90 4
71
73
684
74%
864
1044 1044
104
99
LU4
1
70
102
&7%
23
90
90
95
04
79*4 I1
—
64
4
4
109% 110*4
09% 92
1
92
l
75
90
I 30
6
I
Wheel’g * L E 1st g 5s... 1926'A-O
WlreMDivlst gold 5s..1928' J-J
108
084
10741074
*67**
1054 J-D
108
2j 944
109
6 107 41134
1
J’nelO
99
1034
liec’09 ::::i
!
J’ne’lO
100
102
Mar’io
90
90
63*4
06 4 325 63% 77%
104
Trust Co certfs
2d
Nov’08
95
94*4
Sale 108
loo
99
100
100
99 4 100
84
90
90
86
1030
98
96
F-A
....
I
Telegraph and Telephone
Telep * TeloolltrAs 19291 J-J
Am
89*4
1936 M- S
100
04
1st 5s ..1024 F-A!
YTelep 1st*gens 144s.’30 M-N
91
1
00
Sale
98 4
>....
100
994
06*4 Sale
235
90
99
93
106%
98
96
05
99
99
96*4 43
95
Sale
95 *
96 i 30
90%
07
98
97
07
1004
J’ne’lO
03
04
*'3 4
034 97 4
034
10141014 1014 J’ne’lO
1004 1024
Pac Tel* Tell st 5s
1937 J-J
West Union ool tr cur 5s.1938.J-J
Fd and real est g 44s...1950 M-N
1036 M-N
964
..
BON Ds>—Concluded.
Alanulactur.ug * lndustriu>
v’a-Car cnem 1st 15-yr 5s 1023
Westmghouse E * Ms f 5s ’31
08
87
.liiuceiiuiieous
Adams Ex ooi tr g 4s
.1948
Armour* Co 1st real est 4 4s’3b
Bush Terminal 1st 4s
1052
Consol 5s
1955
ChicJc* t Yard oolg 58.1916
Det M * M ldgr incomes.. 1911
institfor Irtlg Wks ,4 4s 1943
Xnt Mercau Marine 4 4s..1022
Int Navigation
Sale
68
934 95
014 Salt
97 4
89
07
95
'95 4105
35
bale
054
.....y
62
bale;
c bl
|lst s 15a.
Newp Ne Ship * D D dad
50-yr 1st g :4e,
N Y Dock
"S8 1 0u4
'PiovidenceBA0 adb.4s..f
20 Uua .jo4 4 JirovidenL Loan, soc 44s
10cm 236 10141054 b Yuba WalOo con g 6s,.19iii5
101*4
1024 1024
1 102
105*4 Wash Water Pow 1st ds.. 1930 Ji j
and asked this week. 6 Due Feb d Due Apr. e Due May pDueJ’ne ADueJ’ly
102 4 Sale,
it3% Sale
******
106 4 Nov’04
M-N
Cony 4s, Senes A
mmmmmm
106
Oct’Oti
Mar’io
Sep ’09
103 4108
112
J-J
A-O
J-D
A-O
1039 F-A
Debenture series B
1930 J-J
1st lien equip s fd g 5s..1021 M-S
1st lien 50 yr g term 48.1954 J - J
1st ref and ext g 4s
1056, J-J
Det* Ch Ext 1st g6s..l041| J-J
Des Moin Div 1st g 4s..1939, J - J
Om Div 1st g 34s
1941 A-O
Toi* ChDiV lstg 4s
1941 M-S
Wab Pitts Term 1st g 4s. 1954 J-D
Wabash
1st5s
geld 5s
2d gold
Convertible 4s
Mich State Telep
101-
•
•
114%
102 4 104
J’uelO
1064 Sep ’09
1074 Apr’10
112
May 10
08
984
100
May’10
...1047 J • J
-
jioi
....
1064 May’10
J-D
•
110
....
Feb’10
91
104
no
100
106
....
Dec *09
105*4
lOS^J’ue’lO
Dec’09
1054 107 4 107
108
N
Mar’io...
••£•*•
Oct ’08
1024 1034 1024
105 4
112
103
108 4
104
1074
1947 J-J
....1927 J-J
Vandal ia consol 4s
105%
04
81%
904
110
804 87
1124 113*4
1134 114 4
1054 May’10
75
ggu 4 4sl934 J-J
era Cruz *Plst
Ver Val Ind * W See Mo P
Virginia Mid See South By
Va * South w’t 1st gu 5S.2003 J-J
1st cons 50-year 5s
1958 A-O
a
1014
100
97
01% 94
106% 106 4
..
_
106%
»74
74%
86%
110
Uni N J BB * O Co NesPABR
Utah Central See Bio Gr Wes
Utah * North See Un Pacific
Utioa * Black B See N Y Cent
1044
106
....
....
82 Nov’OS
1064 Apr’10
1029! J-D
Utah* Nor gold 5s.. 1026 J*J .101
104 4
3
100
84.
884
26
100
107 4
79%
Nov’06)
116
1004
76
—-
944Apr’io|;;
i
«2
104
1 104
106
1074 J»n 09|r.n*
i
122 4-a.ug’OS
1*0*9“
034
804
.
•
116:4 Apr’06
104 4 108
102
106
Begistered
1004 1004
iiy^Mai’itti..
100
884
"
246
May’10
97
....
90
90
894
T--Tr
1044 sep '091
*1*02* 1*0*44 105 4 MayW
104
1064 105
“
1094 110
1104 J’neiol
109 4 Nov’09!
1084 ,110
92
....
104
.
y7
87
....
"
1004
064
83% 86
994100%
704 75%
80
87
91
01%
103
103
Apr’10
104 4
824
844
i i
13
60
Sale
r
834 J’ne’lO
994
99%
72
7d
103
77 4
••••
Oct'09
—
85
1174
79
114
..
Om mm
109
J’ne’09
Feb’10
1114 110
1104 112
1104 J’ly’io
100
103 4 106
FeDMo
65
65
Nov’09
1114
112*4 Apr’10
114 4 FeblO
1st * ref 4s
f/2U08 *l- S
Ore By * Nav oon g 4s. 1946 J -D
Ore Short Line
Istg6a..l022j F-A
1st consol g 5s
1946 J-J
Guar refund 4s
1929! J-D
...
85 4
99
79 4
Registered
20-yr conv 4s..
....
77
•
104
4s.A1046 J -D
1st refund g 4s
Un Pao BB * 1 gr g 4s
104
May’09
103
J-J
J-J
J-J
J-J
J-J
A-0
J-J
J.J
M-N
M-S
A-O
J-J
J-J
J-J
J-J
J-J
A-O
M-N
1950 A-O
1917 F-A
Coll tr 4s g Ser A
Tor Ham* Butt lstg
Low Hign
78 934 95%
32 103% 1114
94
744
75
74*4 Sale
85*1, 87
85 4 J’ne’lO
41074 110 Apr *10
84
874 86 J’ly’lO
105
108
Sep ’08
91
924 Oct *09
83 4 85
92! J’ne’06
A-0
M-S
Ulster*Del 1stceng5s 102b
J-D
1952 A-O
MISCELLANEOUS
Manufacturing A IndustrinGen Eieotric deb g 34s.. 1042 F-A
10-yrg deb 5s
1917 J-D
Int Paper Co 1st oon g us. 1918 F-A
Consol conv s f g 5s
1935 J-J
Int St Pump 1st s I 5s....1920 M-S
Lackaw Steel 1st g 5s....1923 A-0
Nat Enam * Stpg 1st 5s.. I02u J-D
103*4
sale
Spokane Internal lstg 5s 1955 J-J
I 'er A of St L 1st g 44s.. 1039 AiO
I 1st oon gold 6s
1894-1944 F-A
Gen refund s f g as.'
1953 J - J
St L 51 Bge Ter gu g 6s.1930 A-O
Tex * N O
See So Pac Co
Tex*Pac 1st gold 6s
2000
2d gold inc 5s...
o2000
La Div B L 1st g 5s
1081
W Min W* N W lstgu 6s *30
Tol * O C 1st g 5s
1936
Western Div 1st g 5s...1035
General gold 5s
1935
Kan * M 1st gu g 4s....1990
P
Tol
* W 1st gold 48....1017
Tol St L * W pr lien g 3 4s. 1025
Since
January 1
RigA Ro\
93*4
r
......
Low
110
Guar stamped
1936 M-N
W O * W 1st cy gu 4s..1924 F-A
West N C 1st con g 6s..l914 J-J
8 * N Ala
See L * N
50-year gold 4s..
■
ask
104
Range
or
Last Sale
J-J
Mortgage gold 4s
1945
Rich * Dan con g 6s
1915
Deb 5s stamped
1927
Bich * Meek 1st g 4s... 1948
80 Car * Ga 1st g 5S....1919 M-N
Virginia Mid ser C 6s...1916 M-ft
Series D 4-5s
1921 M-S
Series E5s.
1926 M-S
General 5s.....
...1936 M-N
112
WeeVs
93*4 Sale
5s....1994 J-J
2d 4s
1948
Atl * Tad 1st g
guar 48.1949
Col * Greenv 1st 6s
1916
E T Va * Ga Div g 5s..l930
Con 1st gold 5s........1956
E Ten reor Jien g 5s
1938
Ga Midland 1st 3s.......1946
Ga Pac By 1st g 6s
1922
Knox * Ohio 1st g te.,.1925
Mob * Bit prior lien g 5s 1946
Oct ’08
109
May’10 .-i 109
107
107% Jan’10
1074 107%
104 4 1064 Apr’10
106 41074
See.N Y Cent
t Jo * Gr iai 1st g 4s...1947 J-J
St L * Cairo See Mob * Ohio
St 1. * iron Mount See M P
BtliM Br See T BB A of St JL
Bt Louis * S F— 3eng Us. 1931 J-J
General gold 5s
1931 J-J
St L>* 8 F BB cons g 4s..’9U J-J
Gen 16-20 yi ua
1927 M-N
Southw Div 1st g 6s..1947 A-O
go,
Refunding g 4s
1951 J-J
K C Ft S * M con g 6s..1028 M-N
K C Ft S * M By ref g 4s 1036 A-O
KC* MB* B 1st gu 6s. 1929 A-O
Oz’rkd Ch C 1st gu5s g.1913 A-O
St Louis So See Illinois Cent
St L S W 1st g 4s bd ctfs.1989 M-N
2d g 40 mo bond ctfs...pl989 J-J
Consol gold 4s
1932 J-D
Gray's Ft Ter lstgug 5s 1947 J-D
St Paul * Dul See Hot Paciiic
St P Minn * Man See Gt Nor
‘St P * Nor Pac
See Nor Pac
St P & S’x City See O St P M *o
S A* A Pass lstgug 4s... 1943 J-J
S F * N P 1st sink i g 53.1919 J J
Sav F * West
See Atl Coast L
Scioto Val * N E See Nor * W
Seaboard Air Line g 4s ...i960 A-O
Coll tr refund g 5s
1911 M-N
Adjustment 8s
ol949 F-A
;
Atl-Birm 30-yrlst g 4s.el933 M-S
Car Cent 1st con g 4s...1949 J-J
Fla Cen * Pen 1st g 5s.l918 J-J
1st land gr ext g 5s ...1930 J.J
Consol gold 5s
1943 J-J
Ga * Ala By 1st con 5s o!945 J-J
Ga Car * No 1st gu g 5s 1929
J
Seab * Boa 1st 5s..
10261J J
fiber Shr * so See MB* T
Sll Sp Oca * G See Ati Coast L
Southern Pacific CoGold 4s (Cent Pac coil). £1949
D
D
Begistered
£1949
20-year conv 4s......01929 M-S
Cent Pac 1st ret gu g 4s 1949 F-A
Registered,
14*49 F-A
Mort guar gold 34s..£1929 J-D
Through bt L 1st gu 4s ’54 A-0
G H* S A M *P 1st 5s..1931 M-N
Gila VG*N lstgug5s. 1924 M-N
Hous E * W T 1st g 5s.1933 M-N
1st guar 5s red
1933 M-N
£L * T C 1st g 5s iut gu..l937 J-J
Consol g 68 int guar...1912 A-O
Gen gold 4s int guar.. 1921 A-0
Waco & N W div 1st g 6s '30 M-N
A & N W 1st gu g 5s....1941 J-J
Morgan’s La * T 1st 7s.l918 AO
1st gold 6s
1920 J-J
No of Cal guar g 5s
1938 A-O
Ore * Cal 1st guar g 6s. 1927 J.J
So Pac oi Cal—6s E * ».1912 A-O
1st gold 6s.
1912 A-O
1st con guar g 5s
1937 M-N
8 Pac of N Mex 1st g 68. .1911 J.J
So Pac Coast 1st gu 4s g.1937 J.J
Tex*N OSabDivlst gbs.1912 M-S
Con gold 5s
1943'J - J
U
U
U
u
U
g
con
Begistered
..,.,....1994
Develop * gen is Ser A. 1056
Mob* Ohio coll tr g4s,. 1938
Mem Div lstg 44-5S...1996
St Louis div 1st g 4s.*..1951
Ala Cen B 1st g 68...... 1018
Atl * Danv 1st g 4s.
1948
••••••
JN Y Cent
Stamped.
Southern—1st
•>
■
i
Bia
4s......1955 J-J
UZZX1*
Range
July 8
—
So Pac RRlstref
Aug’09
May’08
ttensseiaer * Bar See D * B
See South By
See Southern
See Den * Bio Gr
See B R& P
Bich * Dan
Rich * Meek
Bio Gr West
Booh * Pitts
Borne Wat*
Rutland see
-
109
106
98
sale
Price
Friday
^
•
1094 J’ly’09
90
90
PCC&StLgU4 4s A...1940 A-O,
i
......
96
90
1044
Since
llik Jan *00
90
90
1654
105%
Senes B guar...
1942 A-O!
Series U guar...
194‘4M-N
senes D 4s guar
1945 M-N
Genes E 3 Si guar g....l949 F-A
Jan’05
110
J* J *1054 106
J-J
96% J’ne’lO
BONDS
N. Y. STOCK EXCHANGE
Week Ending jolt 8
^
Range
icq
1 --I January 1
High !
ASM Low
1034
1034
gal
Ss,
ool
Week?*
984
ioT*
M-N,
F-A,
2d7e..—.—;——.1912 J-J
8d7s........:...
A1912 A-0
;
Sang* or
Si a
I
Guar 15-25 year g 4s
1931 A-0
Ol d? Mar 1st gu fc 448.4036 M-N
Cl&P gen gu g 4 4s ser A.’42' J - J.
Series B
*
1942'A-O
Series C 34s.
1948
Series D 34s
1950
Erie & Pitts gu g 3 4s B.1940
Senes C
1940
Gr%Ufc I ex lstgug 44a 1941
Pitts Ft W& Cist7s...1912
Price
Frida*
IVoiu
i
'-j
!|74^i»o1
loo
08
08%
874
88
93
J’ne’lO
90 4
91%
87 4 J’nelo
93 J’ne’lO
100
Jan’Ob
i
35
35sr
97,4Mar’io
•
804
,
10
7
964 100
87 4 03
92
37
12
62
4
804
874
034
944
89
96
08
904
35** *40**
96
i
08
,
Qa i} Dec’Ot-
934M^’li.;
112
101
J’ly’04 ■rr>
Feb’lt
,934 VAjwW
.00 ...90..)Vj.
\uu\ b(*L
ib*r* iW
CHICAGO STOCK EXCHANGE—Stock Record—Daily, Weekly and
Yearly
SlOf'KS—HIGHEST ANL LOWEST SALE FRICKS
Saturday
Monday
July 2
July 4
2
>170
•
!
2
*6
*2
9
I
l
f
1
5812
*
ft
55V
8V
1
1
1
a
l
a
t
a
164
64
24
214
254
*19
6012
56
8k
♦43
45
*734
*o814
69
70
20
63
22
63
56
*...
834
50
8
67
*240
*__.
*80
8
67
250
Sale
STOCKS
CHICAGO STOCK
EXCHANGE
Wees
614
Mch’10
614
•
^
;
4
50
300
372
614
185
2
Mch 7
5
67
Rys part ctf * 2"...
Chic Rys part ctf “2"
Chic Rys parfctf
Chicago Subway.....too
Kaos City Ry <k Lt-.lOO
Do
pref
100
100
Metropol W S Kiev
Do
pref .........100
14
8
May25
May26
May 23
Mav26
3
Iuay24
Do
too
pref .........100
185 South Side Elevated.. 100
245 Streets W Stable C L.lOo
——
Do
pref.........100
♦8V
834
June’10
Last Sale 45
iange lor Frevxout
a 909 j
Highest
Do
prel
...100
;hic Rys part ctt **1"—
Northwestern Elev
-
834
Louies'.
Chicago City Ky
100
Chicago ds Oak Park. .100
44i Chic
Last Sal 20
June’10
Last Sale 55
June’10
*59
60
*55
58
♦8I4
to-.
‘
Lower.
1 tar
Highm
Railroads
May’10
June’10
54
Range
Year 1910
share*
Salt 10
June’10
10
1534
16
Salt 9
June’10
5
*5
6
*2
21*
24
Sale 26
May’16
Sale 764 May’10
21
20
20
614
8*4
*43
Sale 185
Sale 2
-
10
*5
70
20
63
22
63
70
20
•
1.
l
75
25k
1
Last
Last
Last
Last
*15
Last
5
*2
Last
Last
*19
mmmm
153g
*812
6lf
2k
l
'*
Friday
July 8
July 7
185
*6
*65
75
161r
10
*8*2
•
j
*170
*212
*70
10
•
I
185
*6
*
i
sates
Thursday
’
July 6
*212
•
1
•
*
Wednesday
1
•
•
I
Tuesday
July 5 *
185
May25
J09
36
16
51
15
63
Jan 14
Feb 7
Apr 1
May31
ssvJ'iy 1
8
45
J’no
4
Mav27
J"1
Jan
39
Feb
Jan
190
11* Oct
4
15
6
Oct
97 V Dec
Dec
3 J
3
3
Jan
Mch
180
Jan 10
9V Jan 6
5 Jan 15
2V J’ne 29
May 18
Feb 17
26
69
16
Mch 7
34 Jau 26
74 Jan 7
Jan
1104 J'lvr
45*4 Mil
104 Dec
3o
8
Dec
3 V Dec
tan
184 t*au
2914 otm
5
30
Dec
52
7734 Mch 30
78
Dec
8t»4 May
J94 Dec
J’nc_i
25
72
23
66
15V Sep
J’ne 22
47
17
J'ne24
J'neu
724 J ne22
54*8 Jan a
104 Jan 6
Jan
Nov
63
60
oan
Jan
29 V Apr
97
Feb
J’ly
Dec
May
May
6V
25
73
61
541"
108
May
Dec
Dec
t
•
l
r \
e
a
rn
a
c
>240
a
*
»-3
Q
a
8I4
250
128l{
*80
81
ioy:
a
u
o
Q
o
33
*48
*1
*2
37
u
V
z
1
w
IV
*147
112
W
Q
X
148
112
Z
M
a
PS
H
_
X
W
i
•
•
1
»
95
*70
*44
*54
*93
a
i
«
96
71
55
95
a
i
*
i
*103
21
106
12H117
120
104
121V
*116
*118
104
a
*
a
—
•
1
•
!
»
k
•
—
_
♦172
i
*172
102V 10212
i
_
*10
a
80
June'10
11OV June’10
134
June* 10
V
V
June’09
June’09
—
15
*5V
6V
15
Amer Strawb'd 1st 6S.1911
Armoifr & Co 4 Hs
1939
Aurora Elgin AChlc 5.1941
Cal & So Chic Ry Co
1st M 5s
1927
Cass Av & F G (St L> 5s 12
Chic Board of Trade 4sl927
Inter¬
Fries
Week:;
est
Friday
July 8
Range or
Ferioa
Bia
F
J
A
iio
Chic Title & Trust
100
111 Commonw’th- Edison. 100
Do
rights
Corn Prod Ref Co com
•’
Do
do
pref....
114 Diamond Match ...100
4.874 Illinois Brick....
100
Masonic Temple
McCrum-Rowell Co.. 100
75
Do
pref,
Milw & Chilc Brewing.
Do pref
National Biscuit..... 100
Do
5
pref
....100
National Carbon
100
Do
pref
100
175 People’s Gas LdsCoke.100
Do
rights
1,092 Sears-Roebuck com.. 100
76
Do
pref
100
1.540 Swift & Co
100
The Quaker Oats Co..100
Do rights
Do
162
pref
.100
75 Unit Box Bd & P Co.100
Do pref..
..100
Western Stone
100
.
_
A
102
J
101V Oct’09
m.
—
99*4 Mch’io
91V
91*4
rnm
91*4 Sale
J
-
Chicago City Ry 5s...1927
Chic Consol Br & Mlt 6s
Chic Consol Trac 4 Hs 1939
Chic Auditorium Ist5sl929
Chic Dock Co 1st 4S..1929
Chic Jc RR 1st M g 5s. 1945
Chic No Shore Elec 6S.1912
Chic Pne Tool 1st 5s_al921
Chic Ry 5s
.1927
Chic Rys 4-5s series ,,A’’
Chic Rys 4-5s series “B”
Chic Rys 4-5s series “C"
Chic Rys coll 6s
1913
Chic Rys Fund 0s..1913
Chic Rys Tem Ctfs 1st 5s
Chic R I A P RR 4s..2002 -VI - N
Collat trust g 5s
1913 M- S
Chic Telephone 5s....1923 J - L
Commonw-Edison 5s.1943 M- S
Chic Edison deb 6s.1913 J - J
1st g 5s....July 1926 A - O
Debenture 5s..1.1920 n - s
Commonw Elect 6sM943 n - s
Illinois Tunnel 5s....1928 J - D
Kan City Ry & Light
Co 5s
1913 11- N
Knlck’b'ker Ice 1st 5s.1928 A - O
Lake St El—1st 5s...1928 J
J
Income 5s
1925 Feb
90
Sale
100*8 Sale
100
100
9934
91V
09*4
»4lr
mm mm
102
80
96
80
16
N
94
94
Pearsons-Taft 5s.
1916
4.40s
4.60s Series E
4.80s Series P
Peo Gas L & C 1st 6s.1943
j'
-
j
81
8t)
3
78
8
pm mm
1
10
96
07
97
•
984
101
103
102
’’
"-W
r-
-
-
\
■itw —1-
•
f
‘
■
«
^
£
„
■T-’fjj
'll*
_
83
(?3
<«eaudCfi to
87*4
97*4 1013s
88
95V
76
86
904 91
974 101V
1017s 103V
100V I027g
2
-
Mch'09
101*4 102*4
80
.
2
-
-‘-if —
-
»
—
-
-
6
.l
6
894 93V
93*4
924
mmmm
v
07
1
•
•••
mmmm
lo
93
•
••«
«...
96V
964
97
984
mmmm
96V
99
r
964
mmrnm
mm¥m"
84
80
80
78
99
Mch’10 Jmmm
Calumet
National
Oct
117
Jan
38
43
Jan
20
Nov
Jan
25V Aug
884 May
13084 Aug
884 Dec
47
Sep
21
119V Sep
l
Mch 30
115*4 Jan 3
82
110
102
jau
1084 Dec
Jau
124
Jan
119V Aug
1664 Apr i4
55
101
J’ly
130
122
Mch 14
109&8 Jan
186
Jan
1004 Jan
8|
Feb tO
119
Sep
Nov
1
Mch
1694 Dec
121*4 Oct
Jan
114 V Aug
Dec
162
Jan
Alay26
9
106
6| 1
Jan
15*8 Jan
984 Jan
&8 Feb
3*4 Mch
3
22V Apr 1»
1
15
Feb
105
Dec
l&gMch
94 Jan
25
Mch
Surplus
Commercial National..
Continental National..
Coro Exchange Nationa
Profits
In
in
X
t
1908
1909
Per¬
iod
0
An
Dec
J-J
iuly 10.5
July TO, 2
July TO, 21*
July TO, 4
July TO 11*
July TO. 21*
July T0,H*
June30'10.3tf
Mch31’10,2l*
8,000,00u
9,000,00J
3,000,000
200,000
600,000
200,000
National.
Dividend Record
and.
XS42.487
2/206,841
3,733,972
5,209,551
5,215,39.
y26,llt
6
10
m12
8
12
10
ull
8
12
6
377,552
y-j
Q-J
Q-J
9
9H
10
6
y-j
Q-J
Q-J
Q-M
Q-M
Last Paid
%
-09,6
6
2/32,826
First National
12
10,000,000 10,534,793
12*
First Nat Englewood
10
10
150,000
a;169,998
Foreman Bros B'k’g Co. 1,000,000
Triv
ate
Ba nk
500,000
Fort Dearborn National 1,000,000
8
8
396,273
Q-J July TO,2
^Hamilton National
5
5
J>l Dec31'09.21*
£00,000
(w)
Hibernian B’k’g Ass’n.. 1,500,000
X
921,617
8
Qd July TO. 2
Kaspar State Bank....
10
200,00U
10
2/123.181
Jd July TO. 5
La Salle St National
1,000.000
250,155 Beg c s. Ma y/10 V.90, p.1277
Live Stock Exch’ge Nat 1,250,000
10
452,591 10-1-2
Q-M Jne 30T021*
Monroe National
4
4
300,00o
X64.671
Q-F May TO. I
Nat Bank of Republic.. 2,000,000 l,198,0JJp
8
8
Qd Apr TO, 2
wNational City
3
6
1,500,000
353,752
Qd July 10,11*
National Produce
3
250,000
76,395
Qd July TO. 11*
North Avenue State
200.00U
2/69,631
Qd July TO, 1*4
North Side State Sav’gs
6
6
50,000
2/23,681
Q-J July TO, 11*
North West State.
200,000
2/13,022
Q-J July TO, 1
People’s Stk Yds State.
300,000
1/93,699
Q-J July TO. 2i2
Prairie National
250,000
68,225
Prairie State
8
rf
6001000
64,496
Q-M Mch31T0 IV
Railway Exchange....
2
None
22,809
250,000
Jan '08, 2
Security
300,000
169,421
Q-J July TO, IV
South Chicago Savings.
6
6
200|000
2/83,000
Qd July TO, 2
South Side State
200.000
2^8,144 Beg. b us Sep t.’oo V. 89, p. 817
State Bank of Chicago..
11
12
1,500,000 1,682,896
Q-J J- ly TO, 3 '
Stock Yards Savings...
7
8
250,000
180,918
Q-M JuneSOTO. 2
Union Bank of Chicago.
6
6
M-N May TO, 3
200,000
2/42,688
Wendell State
50,000
6
2/8,138
Noue Q-M Dec31 *08,11*
American Trust & Savs.
8
6
3,000,000
392,618
Qd July '09, 2
Central Trust Co of III-. 2,000,000
7
7
866,154
Q-J July TO, 2
Chicago Sav Bk & Tr
6
h500,U0U
111,068
1H
Q-J July TO, 11*
Chicago Title & Trust.. 5,000,000 (1,319,160
6
6
Qd July TO, 2
Citizens Trust & Savings
4
4
2/6,224
A-O Apr9,’10,8
50,000
Colonial Trust A Savings
600,000
502,189 8+2
S+2 Qd July TO, 21*
Urovers’Trust&Savlngs
7H
8
200,000
114,207
Qd July TO. 2
Farwell Trust Co
3
1,500,000
2/228,900
Qd July TO, IV
First Trust & Savings..
1 *
2,500,006 2,964,148
Q-M June30'10, 4
Guarantee Trust A Sav.
200,000
2/5,245 lucorp orated 1908 V.87.p.1138
Harris Trust ds Savings. 1,250,000 1,410,412
6
9H Q-J July' 10,3
Illinois Trust & Savings 5,000,000 8,746.624 16
+ 4 16 p4
July TO. 4
Kenwood Trust 4b Savgs
6
6 H Qd July TO,
200,096
2/58,006
14«
Lake View TrustdoSavgs
4H
200,000
5
2/41,100
Qd July TO, U*
Merchants’ Loan&Tr Co 3,000,00U 5,813.218
12
12
Qd July
3
Metro poll ta nTrust dsSav
'U
6
750,000
211,315
Qd July TO. It*
Northern Trust Co
8
1,600,000 2,271,139
8
Qd July TO. 2
North-Western TrdtSav
6
6
200,000
2/61,782
Jd July TO, 3
Pullman Trust & Savgs.
8
8
600,000
2/220,217
Qd luiy TO, 2
Sheridan Tr dt Sav Bank
200,000
2/23,437 Beg b us. J‘ly 123) 9 V.89,p.141
Stockmen’s Trust & Sav
6 ,
5
200,000
y31,474
Jd Jan
10,21*
Unfcro Tru»$
8
,1,200.000 1,162,581
*8 + 2 Q-M June 30'10,2
V astern
1,000,000
r
207,424
Sav 1 ngs
Apr T0..1V
§!; rv
\Y est
..
.
98V
.
.
.
1014 193V
103
10412
102
1024
...
.«--
t. 92
10U
10l)7g
’’88
,.88
94
...
*
-
tt 'onrl
-
—
l5,
-
*’•
v
ntk-
“•
Side Tt&Shv Bank
Woodia«*n TfA$avBah.v
j.v -
*
m
200,000
£597,141
!
—r <*:
m°Q° v£ 1/48,248 { 6
;2.,L
-
«*.»«■
June
30*10
m July
i
i
if
.t.'jy
with extra pavnienfSr Q-F.
sin addition the equivalent of 4% more came from First Trust & Sayings Bank.:
| Dec. 31 1909. w Stock Increased Jty 1009.
addiubn the^Wlvxilent of 1%-came from First Trust & Savings Bank.* to Hamilton National Bank absorbed
by the National City Bank. See V. 90, p. 638.
x March 29 1910.
?/ March 30 1910. v,
0
j’ne
97V Jau
118V Feb
Stock
1100,000
500, OIL
Chicago City
Tri^;&
,mrn m rn.
Clflt^agq
•
94*4
85
rnmmm‘
Apr’id
July’10
Apr’10
Npv'04
9434
m+i*+i
May* 10
May’05
Feb’10
162
1214 J’ly
mmmm
1004
.
9434
-.70* T W G Apr 10
A-
—mm-m
5.
121*4 May’09
1014
1014
103
Apr'lO
93
100
88
mmmm
m- r-
....
_w__
1014 Dec'09
^
Sail
ICO
^
_t
-tt
-m
100
984 Mch'10
102
m
__
_
mm
Dec'08
93V
94
100V Mch’09
964 Mch'10
994
Jan
Jan
Sep
■*w
.
99
24 Nov
117
107
17V Feb
70V Mch
Jan 7
Jan 18
Apr
Apr
«...
1
-
96U
__m
loov 100*4
J’ne 10
804
81
794June*10
90VJune'10
95
95V
99
Sale
mmmm
tm
June’10
94*4
100
103V
84 V
J'ne'08
-
194*4 Sale
Ogden Gas 5s.......1945 U
■till
*
musi
.
68
1
Dec
4 Feb
J’ne 30
ing
Englewood State.
I0T34
_
100V AUg'09
1004
804
-
-r*--
100V Api'lO
664 Aug'08
664 July'08
1017.
lOUg
100V
100*8
102
A
J
J
S
U
General mtge
Western Stdbe Co 5s:CfiK>V
Nofel—Accrued ;‘nterest
High
mmmm
904 Mch'10
98V
98*g
1014 Julv'09
mmmm
Metr W Side El—
1st 4s...
....1938 F Extension g 4S....193H J Morris <5c Co. 'I Vi
1939 J North West El 1st 4s. 1911 MNo W G-L & Coke Co 5s’28 Q -
fis'2p
Low
Feb'06
77
77*4
-
J - D
M - S
M- N
M-N
A - O
M
S
Refunding g 5s....1947
Chic Gas LAC 1st 5sl937 J - J
Consum Gas 1st 5s. 1936 j - n
Mut'l Fuel Gas Ist5sl947 M-N
South Side Elev 4H*-1&24 J - J
Swift & Co 1st g 5s...1914 J * J
Union El (Loop) 5s.. 1945 A, * U
Union Pacific conv 4S.1911 M-N
.'vM f
United Box Board col
32
864June’lo
97*4
98V
88
J’ne’10
•
15
♦
Drexel State
Drovers’ Dep
944 Dec 09
884
984
6
5V Apr 28
Outstand¬
J'ne’OJ
May'07
101*4
102
103
Apr’04
60
Apr'09
96*4 Jan'OJ
87
115
125
120
121
Dec
42
140
60*g May2o
10234 Apr 20
May 2
Mch 28
Feb 24
Feb 10
40
Mch
Jan
•
.
Jan
Jan
127
2
Jan 15
22V Jan 8
82
Feb 28
127
an
6
91 Mch 2
46
Jan 7
1
6
764 Deo
Apr
2V Apr
1214 Jan 11
148
Feb 7
118, I’no29
1014 Jan 25
162
Jan 13
6
J’ne 22
102
J’UC29
NAME
100
mm-r^r
Memo
103*4 J’ne
—
mmm-m
Sale
163
Nov
145
1
20
J’no
226'4 Oct
132
J’ly
81V Dec
112
Sep
V May
‘ May
J’ne
61V Jan
T
Range
lor
5
-
mmmm
J - D
F - A 102
J - J
J -D
F - A
A - O
M- S
A • O
J - J
F - A
A - (J
J - D
77
F - A
F - A 198V
F - A
1424 Jau 21
iil7gJTy 7
IV Jau 26
14*4 J’ne 6
79V Apr 7
112
_w__,
t
F
Feb J1
Jan 3
47
15V Nov
86
10
48
39*4 J an a
74
Jan 4
65
Feb 17
1
Feb 4
137
103
121
104
_
m
126
54V Apr
101
Feb
139
Aug
V J ne
Jan 11
110
Jan
Jau
Chicago Banks and Trnst Companies
High No.
-
mmmm
J’ne 6
J’ne 0
Jau 11
Feb 4
J’ne 4
J’ly 7
434 Men 9
40
Mch 17
93
J’ne 28
....
^ ^
200
142V Mch
95
54
....
•
77g Jan
71*4 Jan
a
May 6
Apr 4
844 May lo
112
Apr 11
J’ne 0
334 J ly t
Mavl7
Year 1910
-
-
7
Jan
m+m
.
1024
Bde
Sold
A
D
O
-
1
Chicago Telephone...100
Do
rights
34
June’10
Last Sole
Ask Low
31
56
50
Feb
13V Jan 10
82
250
135
.....
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending July 8
72
109
135
Chic Brew'g ds Mait'g....
Do pref..
250 Chic pneumatic Tool. 100
7
*64
7*4
Apr'06
Last Sale
Last Sale 15
6*g J'ne30
J’ly b
Apr 25
128V J’ne 1 i
67
240
-n-TTW
Last Sale 175
June’10
Last Salt 6*4
June’10
103
1024 1024 103
^
*10
102lg
.too
100
American Radiator..100
Do
pref
.100
Amer Shipbuilding
100
Do
pref
.100
Amer Telep & Teleg
Booth (A) & Co..
100
Do
pref
100
116 Booth Fisheries com
100
Do pref
Cal & Chic Canal ds D.lOo
128V June’10
102V 1025^
176
1024 102*«
6
6
6
mmmm
June'lo
««
10134 103
176
6
280 American Can
295
Do
pref
334
mmmm
i
i
250
Miscellaneous
8U
767g
■“-n-w
1534
1185s 11858
102U 10258
i
i
•
!
—
153
81*
76V
^
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8
68
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Sale
Sale
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Sale
34
334 *32
58
58
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6.)
Last Sale 50
May'10
Last
1
Sale
IV
Apr’10
3
Last Sale 24
Nov’09
37
37
364 37
*364
37
117
>115
*116
117
117
117
Last Sale 2V
Mch’08
148
>147
148
148
148
148
112
112
♦111
112
1117g 112
Last Salt 138
Feb’10
Last Sale 15
June’10
Last Sale 79 V
Apr’10
95
96
95
954 9*6
954
66
70
54
68
59
62
*44
Last Sale 434
Mch'10
*54
55
Last Sale 55
June’10
*93
95
96
96
*95
96
Last Salt 2ig
June’07
*
21
Last Sale 20
Nov’09
*103
106
Last Salt 106
June’lG
*1214 1224 *1184 123 *119
123
*116
117
Last Sale 120
July’10
*118
120
Last Sale 118 June’10
*104
1043^ 105 105
1054 1054
'
Last Sale 11-16 Mch’09
152*4 1 5634 156 158
156
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119
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Weekly and Yearly
BOSTON STOCK EXCHANGE—Stock Record, Daily,
sales
o) tot
SHARE PRICES—NOT PER CENTUM PRICES
Saturday
July 2
•i
..
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I
'
97*g
♦99*8 100*8
125*4
....
1
t
136*4 136*4
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293
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74
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74
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38
37*2
128
106
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128
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15
76
150
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150
15
76
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27
109
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100
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88
100
1
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27
110
100
88
100
159
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99
39
38
39
100
100*2 100*2 100
434
47g
478
5
15*2 16
1534 16*4
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118*2
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118*2 118*2 116 117
131*2 132*4
13134 133
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9*2
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161*4
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117*2
119
117
132
117
.....
Do
1,284 Union
Do
100
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pref
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100
pref.........100
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.....
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...
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108
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6
108
1
2
587g
21*2
60
....
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6*2
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12
14*2
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13*4
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50
60*4
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15
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60
7*4
67g
.50
10
10
6®4
30
6*8
38
J’ly 6
9834 Mch3i
484 J’ly 6
1512 J’ly 6
115
115
131
26
91
7
16
7
17*2
2*4
12*4
15*4
312
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15
3
8
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10*4
447«
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7*2
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18
4
45
18*2
1778
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4
4
1034
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9*2
6*4
107S
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1%
834
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39
8I4
912
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5
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36
47
4
45
12*4
44*8
.50
33*4
120
12
67
16
177g
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934
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912
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52
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36*4
47*4
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18*8
4*2
107g
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934
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39*4
8*2
97g
16*4
28
7
17*2
17*2
12%
13"
15
16
.....
8%
8*8
18%
18*4
4
4
1034
ioTb
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23
934
978
1212
12*2
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17
70
17
J'ne b
J’ne 6
J’ne30
J’ly 7
J’ly l
47*4
33g
20
40*8
*2*2
40*8
40%
3*8
403s
3*8
6*2
*6
104
105
Last Sale ’2
720 Granby Consolidated. 10o
20
657 Greene Cananea
410 Hancock Consolidated 25
95 Helvetia Copper
25
1,355 Indiana Mining..
1,414 isle Royaie (Copper).
115 Keweenaw Copper
673 Kerr Lake.
6,752 Lake Copper........
766 La Salle Copper.....
270 Mass Consol.........
Mayflower
.........
25
25
25
5
25
25
25
25
1*360 Mexico Cons MAS.. 10
5
2,573 Miami Copper..
May
_
J’ne3o
57*8 J’ly
121*2 J ly
37
J’ly
12*4 May 4
5
50
10
J’neso
Mch
May
1%
9*2
1%
934
40
40%
834
834
47%
47%
3
3*8
20*4
4078
*2*2
6*4
20*4
407s
3
6I4 Feb
15=s J’ne 30
J’ne 30
47
500 J’ly
15
May
_
.04
J’ly
6
Feo 17
58
71* J'neiO
67s J'ne 30
.50 J’ne 29
9*2 J’ne 30
6*8 May :
20 J’ly 6
6*s J’ne 30
16% J'ly 1
2*4 J’ne20
11
J’ly 6
18*2 May 3
8
J’ly 7
778J’ly 5
40*2 J’ne jo
10 J’ne30
4*2 Mch 8
.50
May 6
.50 J’ly 7
18
J’ly 5
4
110 Michigan ........... 25
—
25
230 Mohawk...
5
3,132 Nevada Consolidated.
300 New Arcadian Copper.25
45
-
J’ne30
J’ly 6
17*8 J’ly 5
4
J’ne30
9*4 Jan 17
18 J’nejo
5
1,354 N1 pissing Mines.....
6,609 North Butte........ 15
8 Jan 3
590 North Lake......... 25
45 OJtbway Mining......25
6I4 J’ne30
Old Colony......... 25
50 J’ne 8
*710 Old Dominion....... 25 29*2 J’ne 15
25 xivo J’ly 6
115 Osceola
12 J’ly 6
40 Parrott (Sliver A Cop) 10
25
68 J’ly 5
120 Julncy
...........
10
235 Ray Consol Copper
16*4 J’ly 1
126 Santa Fe (Gold A Cop) 10
1*2 J’ne 30
Shannon
...........
10
8*4 J’ly 5
1,805
—5
1*4 J’lieao
50 South Utah M A S
37
J’ne30
440 Superior..
....
25
8
J’ly 1
650 Superior A Boston Min 10
9
J’ly 5
2,014 SuperiorAPitts Copp. 10
25
45*2 J’ne 22
110 Tamarack
5
May 4
390 Trinity
...
25
Mch 31
33
UnitedStatesCoal AOU 25
2*441 U S Smelt Ref A Min. 50 36 J’ly 6
47
Do
J’ly 6
pref...—ii. 50
1,066
5
790 Utah-Apex Mining...
2?s May 4
5
18*2 J’neao
1,003 Utah Consolidated.*.
68 Utah Copper Co..*.. 10 A39*4 J’U030
............
6*4
103*2
105
July’10
Bid and asked prices
.
Victoria
*260 Winona
216 Wolverine
.....
e
..........
25
25
25
3
Apr 29
Jan 17
487s j an 10
Mch b
878 Feb 11
....
10
4612 Dec
143
115
267
Jan
Nov
Jau
Nov
Jan
Jan
Oct
24
2*8 May 5
6 J’ne29
103*2 J’ly 8
Feb 11
33*4 Jan
94
Jan
6% Jan
13
Jan
127*8 Mch 2
ril4
Mch 2
143*8 Feb 24
*117
124
39*2 Mch 19
104*4 Mch 23
lli2Jan 7
28
Jan
0
81* Jan 11
152*2 Mch
71
-
Mch 4
11*8 Jan 0
157*2 Mch 2o
160i2 Jan
0
84*4 Mayil
97
Mch 18
22012 Feb 20
6*4 MayiO
124
115
Jan 3
Jan 11
138*2 Mch 11
100
200
Jan 5
Feb 11
12*4 Apr 14
109*4 Jan 10,
34*4 Jan 3
31
May 6
196
May 19
71*4 Apr 18
31
Jan
125*4
27*2
Nov
Nov
Feb
Tab
90*4 Jan
Jan
Jan
10
58
Feb l
Feb 26
i25*« Oct
106
J’ne
239*4 Apr
136
Dec
235
Mch
153
Nov
Jan
301
Feb
22
77*2 Nov
14*2 Mcb
66*4 Oct ■
J’ne
J'ly
Mch
Feb
Dec
162
123
275
136
103
88*2 Sep
195*4 Jan
Oct
Nov
19
84
I747g J’ne
149
215
Aug
Sep
200*8 Jan
40
J'ne
117*2 Aug
Aug
107
218*4 Aug
117*4 Aug
176
Apr
98*8 Apr
112
Apr
50*4 Aug
J’ly
105
9% Feb
22*2 Nov,
136
Apr f
131
Apr
145*8 Sep
40*8 Aug
J’ne
Sep
Jan
Jan
12*2
3112
8*4
147*2
71*4
13?s
Jan
260
150*8 Feb
59
Jau
173
r4 Jan
Apr
18t»
7
245
89
Jan
202*2 Mch
2
Jan
Apr
68
93
Jan
126*4 Jau
75
168
Feb
Jan
9*4 Jan
100
Jan
20*2 May
2414 Jan
126*2 Jan
254
Mch
Jau
4l*J Feb
107
18
94
modest
108
93*2 Jan
4*2 Apr
15*4 APr
28*2
125*8 Jan
6*s
76
Feb
Jan
Mch
Aug
Oct
Nov
Deo
J’ne
Apr
Aug
83*4 Deo
97
Apr
220*4 Deo
3*4 Oct
Oct
Oct
125
118
139
Sep
Oct
Aug
Sep
108
199
12
114*2 Aug
Deo
34
35
170
Nov
Deo
Oot
71
31*4 Sep
947* Oct
Oct
Deo
Deo
131
19
96
0
90*4 Jan 3
4012 Jan 8
63*4 Jan 8
50*4 Jan 5
12*4 Jan 14
Mch 2 b
24*4 Jan 13
18*4 May25
28*2 Jan 8
103
685
88
.16
85
Jan 8
Jan 3
Jan 3
Jan 10
Jan 3
9*gMch28
13*4 Jan 3
2i2 Feb 18
22*2 Mch 9
12*2 Jan 10
111*4 Jan 3
1178 Jan 8
30
Jan 12
67g Jan 4
44*4 Mch 9
28*2 Jan 3
6*4 Jan 14
11
Jan
6
94*2 Jan 22
19
Jan 14
87g Jan 22
l7sJan 13
5
29
Jan
Jan
7
4
8*2 Jan 21
Jan 22
27*2 Jan 11
10*8 Jan 12
12
May26
75
50
Jan
8
257b Mch 7
12*4 Jan 14
1*4 Feb 1
Jan
Jan
3
21*4 Jan
3
55
166
3
Mch 9
24*4 Mch 8
92
2*4 Jan
18
Jan
3
3
3*4 Jan 19
C8I4 Jan 14
18
Jan 12
16*8 Jan 10
78
Jan
11*8 Jan 3
40*4 Feb 16
55
Jan
3
53% Jan
514 Jan
46
Jan
3
G0i2 Jan
5*4 Jan 14
15
150
Jan 14
Jan
3*4 Jan 14
1*8 May 5
25
Ass’t paid, b Ex-stock dlv. ti Ex rights,
Wyandot
d New stock,
...v
Mch 16
104
J70
'
60
20
*
26
7
10
10
50
50
5*4
5*4
5*4
5I4
Last Salt 35
June’10
36
36
36
36%
50
25
...........
6%
2
9*2
1*2
39*4
81?
10*8
47*4
*3*4
6
105
10
13
68
19
3
6
108
2
.50
45*8
10*2
7*4
19
3*8
6%
Last Salt .50
June'10
34
34
335?
122
122
122
122
12*4
39**
8*4
7%
33*2
68
*16
1*4
17
49
505
*14
*.04
61
6
5
35
...........
44
46
10
*10
10*2
7
7
7*4
Last Salt .50
June’10
.50
.60
.50
.50
19
18% 181£
18%
4
4
*3%
4*2
47
47
*47
48
4*2
9*2
6*4
8
Con...... 25
......
13%
6*4
160 Adventure
160 Allouez...
25.695 Amalgamated Copper 100
125 Am Zinc Lead A Sm._ 25
22%
37
101 Anaconda
25
15*8 1,355 Arizona Commercial. 25
25
350 \tlantic
5%
50 Jonanza (Dev Co)... 10
.51
395 JosACorbCopASUMg
5
12%
14% 1,869 Butte-Ba'aklava Cop..l0
Butte
Coalition......
15
17*2 2,490
49
829 Calumet A Arizona.. 10
510
63 Calumet A Heeia.... 25
15
106 Centennial
.......
25
1
.08
660 Cons Mercur Gold....
61
1,305 Copper Range Con Co 100
76
Daly-West..........
20
7%
678 1,530 East Butte Cop Min.. 10
.60
1.645 Elm River.......... 12
25
484 Franklin
10*8
67g 1,820 Giroux Consolidated. 5
12
.50
10
29
36
61
*.50
8
7
6*4
171*
4
8
6012
25
16
8
506
15
.04
5*8
5*2
12*4
135g
17
14%
16
.51
16U
*2
.
14*4
6
487g
2*4
12*4
*__,
33
120
12
67
2U2
17
618
15
.10
*5
36
59
♦22
37
15
„...
49
*2
11
*1*2
Before pay't of assess'ts called In 1909.
1
59*8
21*2
678
678
17*2 17*2
7
*
9
20
185?
4*2
11
10
•
934
6*2
5
45
10
*6*4
.50
18*2
•
3612
7
.50
*.50
*.60
9
36*2
6%
.55
.87
21
5
8
7
10*4
20*4
5
*7*2
8
9
•
•
15*4
3*2
8
45
10*4
5
9
i
12%
14*2
*3*4
77g
43*4
}
j
\
12
1
•
47
500
15
.04
59
97g
678
31*2
7
16*?
2*4
-
.50
12
13*8
16*2
60
634
16*2
2*4
17%
9
*
15*r
•
«
5*«
11*2
1334
1634
5034
*4
•
/
14
6
5
37
_
14
8
7
.50
934
634
9
.
10
58*2
9
1
23
520
*14*2
•
9
•
9
57*8
21*2
38*4
.51
11*2
9
9
H
5
*36
512
38*2
60*8
Jan 7
Jan 3
Jan 19
Jan 6
May
..
Mining
a
Apr 7
12212 Jan
Sep
11*4 Jau
60*2 Jau
May3i
lli4 Jan
Apr 14
68*2 Jan
Apr /
1623s Mch 14 A153 Nov
146
Feb
139l£ Mch 11 xl40 Mch 9
210
Maylo 212 Mch lb 200 Apr
Dec
190
May 3 200 Jan 7
185
26
35
Jan 3
Apr
May 3
25
109
J'ly 6 116 Jan 6
90*4 Mch
99
J’ly 7 106 Mch 2
97*2 Apr
1551s J’ly 6 204i2Jan 3 xlUh Feb
103*8
Jan
3
93>2 Mch
92‘* J'ne 13
165 Jan
162 Apr 22 168 Jan 17
88
Jau
87
95*2 Mch 8
May 2
99
J’ly 6 109 Feb 10 108 Oct
....
....
tk
296
112
88
201
20
88
Jan
„
0
223*0 Dec
76
79
196
3
....
....
....
124*4 Jan
Feb 24
128*2
Apr .2
Jan
Feb Jan 20
Jan 3
133i2Jan
J’ly 7
J’ly 7
....
«
9
225
Apr 12
J’ne20
J ’ne 16
Feb &
Mch 23
......
*
Jan 10
234
98
Jan
100*4 Jan
Mch 8
9
133
4,779 Amer Telep A Te!eg_.100
27
60 American Woolen....100
26
26
*26*2
Do
92
pref..
...100
92*2 1,188]
92*2
9234
Mch IS
5 Atl Gulf A W I S S L.100
*....
8*2
8*2
934
*
Maylo
Do
*16
18
10
18
16%
*18
19
16%
pref
100
57« Mayls
Boston Land
*5
Last Sale 3
6
10
May’10
*6
6
140
J’ly 5
*141
142
142
142
"270 Cumb Telep A Teleg.100
140
140
140
140
Dominion iron A Steel..
G334J ne 4
Last Sale 63*4 June’10
East
8
8
~240
Boston
7**
Apr 14
Land..
7*2
8
7*3
7*2
*7*2
8
*255
25 Edison E’ec Ilium
255
100 /*239 Jan 26
255
*250
252
252
142
142
140
604 General Electric
141
.100 138 J'n630
140*4 141*4 139*2 140
840 MassachusettsGasCos 100
76I4 Feb 8
80
80*4
80*4
80*4
791* 80
80*2 80*2
89 May 16
91
91
147
Do
92
91
91
92
92
9U2
pref...
100
*215
Jan 4
22
214%
*216
218%
Mergenthaier Lino...100
216
216
21712 217*2
5
5
150 Mexican Telephone.. 10
2*4 Jan 3
*5
5*2
5*2
6*2
6
*5*2
109 J’ne 30
110
no N E Cotton Yarn....100
109
109
10934 10934 *109 110 *109
*
Do
June’10
Last Sale 106
pref
.100 105 J’ne 24
106
*.... 106
134
134
"io6 N E Telephone......100 132 Jne23
133
133*2 *133*2 135 *133*2 135
Mch 22
94
Pacific Coast Power.. 100
June’10
Last Sale 95
*94
95
*94*2 95*2
"207 Pullman Co.........100 163 J’neao
156
157
157
157
156*2 156%
155*2 167
12
15 Reece Button-Hole.. 10
IH4 Jau 15
12
*11%
*1134
*11*4
543 Swift A Co
.....100 100 Jan 24
10234
102
102*2 10134 102*2 102 102*2 102
28 Mch 30
270 Torrington, Class A.. 26
32
32
*32
31*2
3U2
3112 31*2
32*2
27 Jan is
Do
5
*28
28*2
29
28*8 285s *
*28*8 30
pref......... 25
United
186
165*2
Jan 15
387
186
Fruit........ 100
185
185
187
186*4
185*2 186
53
54
4712 J'ly 8
53*2 54
47*2
53*2 12,500 Un Shoe Mach Oorp.. 25
53*4 54
26u J’ly 8
Do
27
27
512
27
26*2
pref
25
27*4
27*4 28
27*2
67*$ J’ly 6
69
71% 25,082 U S Sted Corp
100
67*8 70
69*« 70*4
68** 71%
Do
115
614
114
pref... ...... 100 113*2 J’ne 29
115
113% 114*4 114 1147g 115
14 Feb 14
15
*15
12 Vest Telep A Tel eg.. 100
15
*15
16*2 *15
16%
16*2
Mob 29
Do
*85
87
87
*85
25
pref
.100
*85
1
7
227
152
298
16
76
10
48
150
118
270
J’ne
Apr 8
202 Feb 10
14% J’ne30
76
J’ly l
149
Apr 28
Miscellaneous
430 Amer Agrlcul Chem..l00
Do
162
pref
......100
50
Do
1,075
pref...
50
373 Amer Sugar Refln..._100
Do
338
pref
100
J U830 123*8 Jan
J’ly 8 104*4 Jan
85
313 Amer Pneu Service...
5
*434
1534
pref.........100
100
112 West End St
13
Do
pref...
88
99
40
100
40
100*2
478
5
1584 1584
*117*2 119
116
161%
*98
Do
Maine Central..
625 Mass Electric Cos....100
83
Do
pref.
100
544 N Y N H 6 Hartford. 100
Northern N H
100
Norwich A Wor pref.100
Old
5
Colony
100
20 Rutland pref
100
6
June 10
June 10
Last Sale 92*8
Last Sale 163
88
Railroads
Atch Top & Santa Fe.100
9212
Do
99%
100
pref
Boston & Albany..-.100 218
Boston Elevated
.-.100 125
Boston & Lowell.
100 216
Boston & Maine
100 134
Boston & Providence. 100 x292
14
Boston Suburban El Cos.
73
Do
pref_...
8
Boston & Wore Elec Col.
37
Do
105
pref....
141
65 Cblo June Ry & USY.100
Do
pref
...100 110
Connecticut River...100 265
125
37 Fitchburg, pref......100
Ga Ry & Electric.... 100 104
305
30
119
183
10
13
1
Lowest
Highest
Lowest
200, Seattle Electric
109
99
99
*98
38*2
•
....
^
109
99
88
99
*
.
....
*....
155*8 159*8
*8884 8934
156*8 160*4
*89*4 90*4
t
.;
189"
188*2 188*2 *188
•
....
....
150*2
•
.v
•••
....
w>mmm
87
150
•
*
128
1434
76*2
•
>>:"
•
■
•
V
222
_
•
.
97*2
99*4
....
•
'»>*'
97*2
99*4
....
♦
10*2
Week
Stores
It
*222
126
126
125*2 126
*215
*215
138
138
*138
*292
*292
June’10
Last Sale 14
June’10
Last Sale 74
Last Sale 8
April'10
*37
37
37
38*2
‘
141
141
June’10
110
Last Sale
Mch’10
Last Sale 270
128
128
128
*.—.
107
107*2
Last Sale 86
June 10
Last Sale 204
May’10
15
157b
1534 *15*2
♦76
75
75
149*2 150
1497g 150
Mch’10
Last Sale 140
Last Sale 210 June’10
*187
188
189
189
222
222
126
215
222
126
215
*138
*292
222
222
125
*215
!
i
94
94
.
'■, •
{
I.
July 5
..
Thursday
July 7
Wednesday
July 6
Tuesday
July 4
i;v
1
‘■'S
Monday
-
Hangs Jar Previous Year
(1909)
Range Since Jan. 1
STOCKS
BOSTON STOCK
EXCHANGE
a
47g Oot
34
Jan
65
Feb
23
Mch
88% Feb
lots May
Oot
96*2 Nov
40*2 Doo
64
Deo
51*4 Deo
62
30
8
45
Feb
J *y
Feb
18
Jan
.60
May
17*8
J iy
24
Deo
8
Sep
21*8 Feb
96*4 May
686
29
10
Feb
Feb
J’ne
68*2 Feb
7*2 May
7*2 Feb
1
Oct
13
Feb
7* J’ne
90 Feb
9
Feb
8*4 SeP
6*c Dec
11*4 Deo
33*8 NOV
Jan
Aug
119
695
j4s“XS
86*4 NOV
Mch
12
16*8 Apr
212 Jan
19 Aug
12*4 Nov
110*2 Doo
14*2 Nov
Dec
7*2 Aug
88
;
”22%’Apr" ’"33*VFeb’
212 May
7*2 Apr
16
Jan
10*4 J’ly
4*; Mch
80
Apr
312 Apr
12*4 Feb
6*4 Oct
*67*2 Jiy
16*2 Feb
3*2 Nov
97g Oct
47
Dec
4*2 Mch
6*4 Nov
*7*4
9*s
74*4
19*8
18*4
Deo
1
6
Deo
Nov
Aug
Deo
Deo
May
28*8 Dec
13*4 Mch
70*8 Jan
Nov
8*8 Deo
13
Sep
30
85*4 Jan
117| Aug
1412 Deo
J'ne
90
Deo
47*4 Feb
122
Feb
59
170
Aug
Deo
.40
19
83
Dec
Dec
86*4 J'ne
Jan
99
1*2 Nov
13*2 Feb
27g Jan
177s Jan
34
Jan
13*8 Nov
67
127g Apr
18*2 May
I8I2 J’ly
J’ly
9*4 Dec
Deo
Feb
62
90
28
Jan
Feb
17*8 Jan
39*2 Nov
69
Sep
Jan
54
Oot
6*4 Jan
49*4 NOV
39
44
4
37*4 Feb
39*4 Feb
3
Oct
4*4 Apr
139
2
Mch
Oct
66
6
Oot
•
NOV
Deo
rl8*4 Deo
Aug
;
168
!
4
Jan 1
Ex-dlv. and rights.
J¥L? 9 1910,
Boston Bond Record
tfUAUd
Price
BOSTON STOCK EXOH’GZ
WEEK ENDING JULY 8
Week?*
Friday
Bang*
July 8
Bia
AmAgrioalGhem 1st 5s..1928
A*0
Telep A Tci coll tr 4s. 1929 J. J
Convertible 4s
1930.M- S
Am Writ Taper 1st s f6s g 1919 J. J
Am Zinc LAS deb 0s....l9l4| J-J
Ariz Com Cop 1st conv 6s 1918 M-8
Aten Top A S JTe gen g 4s.. 1995 A-O
Adjustment g 4s
J’ly 1995 Nov
1
Stamped
J’ly 1996 M-N
60-year conv 4s
1955 J-D
10-year conv 5s
1917
Atl Gull A W ISS Lines 5s.’69
Boston Eleot L consol 6s. 1924
Boston A Lowell 4s.......1916
Boston A Maine 4 Hi*
1944
Boston Terminal 1st 3*8.1947
Bur AMoRiv cons 6s ....1918
Butte A Boston 1st 6s....1917
Butte Elec A Tow Istg5s.l951
Cedar Bap A Mo B 1st 78.1916
Cent Vermt 1st g 4s.. May 1920
03AQ Iowa I) iv 1st 68.1919
Iowa Div 1st 4s
1919
Debenture 6s
1913
Denver Exten 4s
1922
Nebraska Exten 4s
1927
BA S Wsf 4s
1921
Illinois Div 3*98
1949
Ohio j o By A 8tk Yds 5s. 1915
Am
Coll trust refunding g isl940
Sale
High Bo, Lout High
’ly’lo
100 *4 103
J’ly
89 7g 93*4
90S
89*
100 f
100
99**106
100
Sale
»•••••
Mar’AP
83
• ••••»
98*
88*0
88^
99 *
90
-•••••
May’lO'....
104
152
••••••
104
162
Feb’10
98*
98*
88*
88*
94* Mar’10
90
158
167*
98*4 101*
88
94
119 Dec'09
117 * Feb’10
Sale
64^
65
110
Feb’04
'100 * Mar’09
94 **
94s*
117*8 117 ^
64 Hi
103
87
103
101*4 Mar’10,..
99* Feb’10
101*101*
85
Oct ’09'*.
86* May’lO
100 * 100* 100*
100*4
98**a
99** 99*4
99
99*
..
Mar’101..
99
99
86**88*
..
99
100
100
May'io;....
100
1
Dec’07!....
81
Cudahy Pack(The)lst g 5s 1924 M-N
Ourreut River 1st 6s
1927IA-0!
DetGrRapAW 1st 4s... 19ibi A-O
Dominion Coal 1st s t 6s..1940 M-Nj
Fitcnburg 4s
1915 M-8
48
1927 M-81
Frerot Elk A Mo Viet Os.. 1933 A-O
Unetainpeu let 6s
1U33 A-O,
Gt Nor C B A (4 coll tr 4s 1921J-JI
Begistcred 4s
!92ljQ-J|
112*4 Jan ’03
1001* Aug’09
99*4 100
94
97*
98*
104
....
Anr’10
Mar’10....
00* J’ne’10
....
99
89
99
96*3
08*
....
103*4 Api ’05
96
Apr’08
133
100*3
....
99
89
88
99
100
90
....
....
Mar’09
....
'140
94*3 Sale
94*4
1
Apr’05
94*3
95 j
94*s
Western
141 94*3 97**
J’ly’10'....!|
94*3 96*3
Interest In addition to the purchase price for all Boston Bonds.
*
-
100*3
Monday
Tuesday
July 9
July 4
July 6
Wednesday
July 6
Thursday
July 7
Friday
July 8
101
93**4 *9*7**
9934
*» J’ne’10
103
Mar’10
93
99*
118
93*a
92
103
J’ne’08
98
12
97* 99*4
99
77** Apr*’*l6
77*3
99 *
IOO34’ lbs"
102
Feb’oy
100 *3 Sep’08
77
79*3
98*3 102
98*3 May’lC
isi" i*33*‘ 1347e Mar’10
134
185
101
98 7*
Apr’09
Sep ’09
iioag Feb’10
1103* 1163s
99
102*4
......
104
105
Alai *10
Dec’08
107*3 Nov’05
102
Mai’02
78*b Apr’10
103*3 Mar’10
957* 96
138
143
Sale
J
78*3 78*3
103*3 104*4
May’lO
Apr’07
110
96
106* ibo*
155
Mar’10
101*3
U>2
97
J’ue’10
101* J’ne’OP
98*3 Apr’10
153
160
101*3 105*3
97
98
99* 100 °s
1083s 109*
95* 96*
98^ *99*s
Apr’10
9534
96
943e Jan’10
98
99
94Hi
94.*
99
94*
H Flat price.
Weekly, Yearly
Bang* Since
Bange for Previous
Jan J
Lowest
99
100», Mar’10
99* Apr’10
108* Apr’10
95*8
95*4
98
96
98*3
105
96
97
of
Saturday
93
91
No pnoe Friday; latest bid and asked.
Sal*•
ACTIVE STOCKS
the
Week (For Bonds and Jnactiw*
Stock* see below)
!Shares
High
113
93
91
102
99** Apr’10
102*3 Aug’04
100* J’ne’10,
Philadelphia and Baltimore Stock Exchanges—Stack Record, Daily,
6hare Price*—Not Per Centum Price*
Low
100
J’ne’io
98
Teleph A Tel 5s. 1932j J - J
Wisconsin Cent 1st gen 4sl949 J
Hiyti
100*3
Apr’08
93 ** Mar* 10
99*4 Feb’10
115
1922
6s
Low
118*Nov’0d
101*4 Sep ’05
1916 A-O
g
Since
January 1
100H, 100*3
Telep 1st 6s
Oreg 6b Line 1st
....
97
93*4
9134 92
101a4 104
Bang*
or
Last Sale
113
Pere Marquette deb g 6s.. 1912
Repub Valley 1st s t 6s... 1919
Rutland 1st con gen 4*38.1941
Rutland-Canadlan 1st 4sl949
Savannah Elec 1st cons 5 a 1952
Seattle Eleo 1st g 5s
1930
Shannon-Ariz 1st g 6s.... 1919
Terre Hante Eleo g 5s.... 1929
Torrington 1st g 6s
1918
Union Pao RR A1 gr g 4&.19J7
20-year conv 4s
1927
Unltea Fruit gen s f 4*38.1923
U 8 Coal A OU 1st s f 6s.. 1938
U S Steel Corp 10-60 yr 6s. 1963
West End Street Ry 4s....1916
Gold 4*as
1914
Gold deoenture 4s
1916 M-N
Gold 4s
19171 F-A
2, 1001* 101*4
91
Apr’10...J 91
927*
115* Jan’10
116*115*
126
Feb’05....
100
Kan C M A B gen 4s
1934 M-S
Assented income 5s
1934 M-S
Kan C A M By A Br 1st 581929, A-O
Maine Cent cons 1st 7S...1912' A-O
Oons 1st 4s
1912' A-O
Bange
117
New England oons g 5s... 1945 J. J
Boston Term 1st 4s
1939] A-O
New River (The) conv 68.1934 J.J
N Y N H A H con deb 8 *81956
Conv deb 6» (ctfs)
1948
Old Colony gold 4s
1924
Oreg Ky & Nav con g 4s.. 1946
88
98 *
..
ask
100
6s
VlS* 114"
..
85*
Bia
..1917
Minne Gen Eleo con g 5s 1929
New Eng Cot Yarn 5s....1929 F-A
New Eng Teleph 6s..
1915 A-O
113 * Alay’10
85*
85H,i
H103 Oot ’07'..
98* J’ne’10
We*k?t
Friday
July 8
Illinois Steel deben 5s....1913' A-O
la Falls ASionx Cist 7b..1917'A-0
Kan C Clin A Spr 1st 6s...1926' A-O
Kan C Ft S A Gulf ext 6s.. 19111J -D
Kan C Ft Scott A M 6s.... 1928 M-N
Al ich
112* Jan’03,
103
Feb’10
100 J’ne’01
Brio*
BOSTON STOCK EXCH’GE
Week ending jult 8
Mara Hough AOntist6s.l925jA-0
Mass Gas 4*38
...1929
73
'104*0ot’0g;
onu
Note—Buyer pays aoorued
January 1
Ask Lout
101
■*90’
goncord
A Pass
4s..l92o'
A Mont
U let
cons
g 4s...
1943
.
Sine*
Loot Sal*
90
Ch Mil A St P Dub D os.. 1920
Ok M A St T Wie V div 6sl920
Okie * No Mien 1st gu 5s. 1981
Ohio A W Mich gen 6S....1921
BONDS
Bang*
or
87
Year (1909)
Highest
Lowest
Highest
.
.
g
60
•
j
cj
22
22
*
♦IS*
♦4*2
s
H
H
M
*43
P3
42*
11*
46*
21*
%
07
♦
s
V
T
43
11*
49
22*
67*
O
*
♦
14
r
A
43
42
*13*
*40
14
*10
20
42
42* ♦42* 43
>
*<
64
64*
42
16* lb*
86*
09*
63* 64*
43
42
14*
14*
14*
16
18*
09*
8*14
8*
44* 44*
80* 81*
8*
44*
•
•
Bid
Ask
inactive Stocks
Allegheny Val pref....50
Do
Amal Asbestos Corp. 100
100
«•••••
Lmerlcan
Milling
H)
nor Pipe Mfg.l....100
r-d Telenhone (Pa). 100
70*4
72
•
81
••••••
•••*
piliu
Indian
Indian
diana Union Tr....lOO
20
t c
U1/
*
50
9*
• • :
•
•
••••••
10
60*
••••••
••••••
120*
••••••
99
?ennsyl RR receipts...
Pennsylvania Salt
6
Pennsylvania hteel..lOi/
la Co (Pitts) pref.
I German A Norri
«••••*
10
Mlnehill & Schuyl H..50
N Haven Iron A steei.5
foxthern Central
60
forth Pennsylvania..5
Preferred
••••••
108
100
i*oT*
105
42*
147
Traction....
43
148*
84*
10
vays General
squeh Iron A Steel..5
,_lewater Steel
10
Preferred
10
T nlon Tr ot Ind
100
Jnlted N J RR A C..100
7nit Trac Puts pref..60
Tarwlok Iron A Steel. 10
fest Jersey A seaSh.60
-
Stmoreiand
Gas
CoaL,..50
Eleo..
100
a
»Bid and asked; no sales
18«J
73
|»
24*«
08*9
♦8
0*3
16
„
18*6
'
72*3 74»4
04*4
(
J4*»6411ie
43
43
43
l47s 14 *
14*
14*
18* 18*
71
71*
8*
8*
18*
71*
67
87*3 89*3
63* 64*18
42
2234
“
45
46
80*
81V
18* 19*
71*4 72W,«
8*
8*
45*« 46*3
81
817s
I
PiltliA DELPHI A
I
Alt ALVEleo
•
•••••;
••••••
••••••
«•••••
••••••
10
52*
-
••••••
90
••••••
on
4
81*.
82
Am
97*
98*
102*
103
*897e
this day.
Interstate4s 1943 ..F-A
60
PHILADELPHIA
41*3 J’neSO
11* J’ly 1
42
J’neBO
ua4 Feb
28
50
53 **
12 *3
Jan
Jan
25
Ex Imp M 4s g ’47.A-O
Terminal 5s g!941.Q-F
P W A B col tr 4s ’21. JJ
Portland By 1st 5s 1930.
Boch RyA L con 5s ’54J-J
Dec
44* J’ly
Jan 10 32 7s Feb
Jan 14 xlO* Jan
_
64*4 Marll
34*s Jan 29
84*4 Jan 10
43
Jan
I5*a Jan
63
Jan
9*3 Jan
14*4 Jan
§0
14 *9 Deo
67
40*9 Feb
11*4 Fob
24* Jan
60 *3 Feb
6*4 Jan
6078 Jan
84<% Maj
"I”’|I
UTrac Ind gen 6s’10.J-J
Un Rys Tr otto 4s’49J AJ
United Rys Invlstoolltr
af 5s 1926
M-N
U Trac Pit gen 6s’97 J-J
Welsbach s f 6s 1930.J-D
Wlka-B GAE oon5s’55J-J
BALTIMORE
Inactive Htocks
Ala Cons CoalA Iron. 100
72
74
78*
79
1939 J-D
la A Ala lBtoon 5s ’45J-J
la Car A N 1st 5s g’29 J-J
Jeorgia P 1st 6s.. .’22 J-J
UaSo A Fla 1st 5s 1945J-J
G-B-8 Brew 3-4s 1961M^
2d income 5s 1951 M-N
65
Prices
are
interest
Anaoostla A Pot 5a....
Atl A Ch ext 4 *98 ’10. J J
Balt Traolstoa.
$#35 paid,
100*
*••••«.
min
♦813*pald.
Npt NAO P 1st 5a’38 M-N
88
100
104
a
107* 108
102
102*
104
104*
110
114
106* 100*
41*
99
109
Funding 6s 1936...J-D
VaMid 2d ser 0a ’ll.M-S
3d series 0s 1010..M-S
4th ser 3-4-6a 1921.M-S
105
5th series 5s 1926.M-S
93
93*
Va (State) 3s new ’32 .J-J
J
Fund debt 2-8s 1991. J J
91* 92*
West N O con 6s 1914 J-J
WesVa CAP 1st tfg*ll J J
105
110
Wil A Weld 6s..1935.J-J
6-20 yr 4s 1925....
501
MaconRyALtlst5s’58J-J
98
Memphis St 1st 5s’45 J-J
MetSt(Wash)lat&s*25FA 106
6
6*‘ Norfolk St 1st 5s’44..J-J
North Cent 4 *as 1925 A-O
21
20
Series A 5s 1926....J-J
30
Series B 6a 1926....J-J
92
70
'74 Pitt Un Trao 5s 1997.J-J
Poto Val 1st 5s 1941..J-J
1
2
Sav Fla A West 6s ’34 A-O
Seaboard A L 4a I960 A-O
Saab A Roan 6s 1926. J J
101
101* South Bound 1st 6S..A-0
U El LAP 1st 4 *8*20 M-N
Un RyA El 1st4s ’49 M-8
92*
Income 4s 1949
J-D
all “ and
107
105
Mt Ver Cot Duck 1st ds.
"
1
•••#
94
7
103
105
Knoxv Trao 1st 6s ’28A-0
LakeK El 1st gu5s’42M-S
.....1
•
92*3
90* 100
100
T
60
2d pref
G-B-S Brewing
Bonos
Sep
7«i« Mar
587s May
95 *9 Deo
10L*
90
Preferred...
75*S Sep
517s Deo
14*s Deo
30*9 Apr
105
100
••••*•
68.
Canton Co.
49^ Deo
12 ■<% J’ly
63 *9 J’ly
33*4 Dec
84*9 Deo
15
Apr
Bid I Ask
8*23 J-J
•99 M-S
j
Jan
Deo
3378May
03*s Feb
1
99
43
48
Jan 125 *9 Deo
Feb 113 Sep
BALTIMORE
102
•
||$15paid- f$12*paid.
J’ly 7
j Bid \ Ask j
Pref.
Leh V C 1st 6s g ’33..J-J
iof’
Leh V ext 4s 1st 1948. J-D
2d 7s 1910
M-S
Consoles 1923
J-D
Annuity 6s
J-D i*V*
Gen cons 4s 2003.M-N
96*4
Leh V Tran con 4s *35 J-D
New Con Gas 6s 1948 J-D
Newark Pass oon 5s 1930
N Y Ph A No lst4s’39 J-J
Income 4s 1939...M-N
NoOhioTrao con5s'19.J-J
Penn gen 6s 1910 ...Var
Consol 6s 1919
Var
Penn A Md Steel con 6s.
Pa A NY Can 6s ’39.A-O
Con 4s 1939
A-O
Penn Steel 1st 5s ’17 M-N
People’s Trtr certs 4s *43
P Co lgtA col tr 6s’49 M-S 102* 103
Con* col tr 5s 1951M-N
96*3
Phil Eleo gold trust otto. ioas 102*.
Trust oertifs 4s.........
75
74
P A E gen M 6 g *20. A-O
•••weGen M 4s g 1920.. AAO ••^••«
HEx-rlghts.
J*nel7
................
Spanish-Am Ir 0s ’27 J-J
Lehigh Nav 4 *9* '14.Q-J
RBs 4s g
1914.<4-F
Gen M 4Hi8 g.l924.Q-F
18
42
1,472 Elec Storage Battery.. 100
Ph A Bead 2d 5s *38. A-O
Con M 7a 1911
J-D
H»s’33.F-A
BergA EBrw 1st 0e’21 J-J
Bethie Steel 6s 1998.Q-F
ChooA Me 1st 5a 1949 J-J
Ch Ok A G gen 6s'19 J-J
Col St By lstcon 5s 1932
ConTraoof N J 1st 6s.*33
E A A 1st M 5s 1920 M-N
Elec A Peo Tr stk tr otfs
8
3,000 Gen Asphalt tr otto ....100 19* J’ne30
Do
2,900
pref tr ette ....100 65*4 J’ly 6
50 Keystone Telephone... 50
7 J’ly 6 13 wanlo
4,287 Lake Superior Chirp....100 15*3 J’ne30 28*4 Jen 3
813 Lehigh C A Nav tr otto. 50 80 J’ne3o 123 Jan 7
22,990 Lehigh Valley
50 1169* J’ne30 121*4 Marls
2,723 Pennsylvania RR
50 08* J’ly ti 893ie Mar 9
818i Pluladelp’aCo (Pitted >. 50 42 J’ne3u 63 *4 Jan 8
2,001> Philadelphia Electric ft. 25 |137e Feb 3 16*« Mar 18
3.150 Phils Rapid Transit... 50 15 Apr28 28*Jan 3
50 69* J’ly 6| 80
Feb Is
4,094 Reading
1
2,930 Tonopah Mining ......
b*9 Jan2v
9*16 May 13
Onion
42
Traction
1,044
50
Apr 28 52* Jan 3
4,750 United Gas I mpt....... 50 a?80 J’neJO 96 *6 Jan 10
Bid I Ask
hya conv 6a 1911.J-D
City 1st 5a g ’19.M-N
14 *s J’ly
Deo
Mar 48
Mar 89
May
Jan 121*3 Dec
Feb 28*4 Ueo
Feb 48 Deo
Philadelphia
20 American Cement
50
90 Amerioan Railways.... 60
3,126 Cambria Steel
50
100 Electric Co of America 10
Am Gas A Elec 6s’07.F-A
Eq 11 Gas-L let g 5s 1928
8
«•
72
11*
50
Mar21 60
May23 30
Mar 11 89
Apr2L! 76
Jan 8 132
Feb28 100
Feb 8 27 *4 Jan 3
1 la4
Jan 25 47
Jan 8
22a4
60115
100 22
100 43
628 United Ry A Electric.. 50 l2*May 3
43 7g
11*
46
100' 80
200 Seaboard (new)
Do
2d pref
14*9
49
16** Indianapolis By 4s.1933
.60
V*
18
43
87* 87*
«*
44*
80* 81
Atl
lambria Iron
60
Central Coal A Coke. 100
Preferred
60
43
11*
49*
23
00*
pref
?78!Northern Central......
Bonds
Prices are gll “ and
interest
,
Preferred
18
70i»i« 72*
•
22*
7
18*
„
42*
•11*
47*
21*
65* 66*
75
Iw
47
22*
89
0
Preferred v
Lit Brothers
46
16*
l
w
42*
*11* 11*
73
t<
V
43
42*
88
a
a*asl
19*
43
0
5
w
19*
7
«
c
tea
22
42*
!
to
to
1
♦
i’20
O
9
“
125
60
*87*9 88
129* *128*3 129
21
21* *19
J2J
s
v
124
43
M
60
......
i‘26
*
i
0
60
125
•
C
Baltimore
42,Con. Gas EL L. A Pow.100
•
70
06
8
70*
106
lob
100
100
*••••*
iuo
102*
107
82*
103
•
•••«►#
83
-•••••
106
103
89*=^ 89*
83* 83*
67* 67*
80* 81
100*
102
103
104
85
85
103
90
00
100
100 a. 100*
110
107
......
Receipts, b $2 5 paid. 0 $30 paid.
d$ 42* paid.
88
THE CHRONICLE
Volume ot Business
Exchanges
at Stock
Hieciric Companies
TRANSACTION a AT THE anew YORK STUCK EXCHANGE
DAILY, WEEKLY l*liU YEARLY
Stocks.
West ending
July 8 1910.
Shares.
-
Bar value.
Ask
ISt
96
• 23
68 b
55
75
$3,000
60,481,200
1,955,000
1,609,000
1,668.000
$317,500
131.500
109.500
182,000
2,975.005 $265,044,401'
$6,694,000
8740,500
S3,501-
805,950 $72,197,500
922,460
81,545,600
566,820
50,820,100
.........
Friday
—
_
679,769
.
Total
Sales at
New Yitrk Slock
Week
Exaianye.
1910.
Stocks—No. shares...
Far value .—.:....
Bank shares, par.....
Bonds.
...
Government bonds...
'
■
’
July 8 1910.
$
*
?
;
1909.
,
$52,80t
$7,438,000
$20,034,500
$378,266,700
$753,855,800
AND
;
?
1st
Unlisted
Bond
snares.
sales.
Listed
shares.
Unlisted
shares.
14,584
$52,140
15.37C
22,38t
16,574
12,455
10.742
42.500
15,000
82,0P1
‘>4,356
r21^41
Friday—....—.
Total
prices
now
are
58.500
15,382
12.996
15.997
20,044
15,302
17,511
9,872
17,316
$168,140
64,410
60,001
2d mtge 5s 1914
J-J
Ooh 5s 1943—See Stock
B’way Surf 1st 5s gu 1924
Cent*' Crosst'n stk—100
1st mtee 6s 1922 —M-N
100
Cen Pk if & E R stk
Rapid Tran St Ry
1st 5s 1921
A-O
J C Hob & Paterson—
4s g 1949
M-N
So J Gas El & Trac.lOO
*
Gu g 5s 1953
M S
No Hud Co Ry 6S 14 J-J
5s 1928
J-J
Ext 5s 1924
M-N
Fat City cori 6s *31.J-D
Chr't’r & 10th St stk._100
85
30
90
list
98
ioi
/ 40
50
2u0
7 95
200
-uo
list
....
4S 1951
'
00
130
85
92
list
Con i 4s 1955.....J-J
Brk C & N 5s 1939.J-J
Kings C El 4?—See Stock
Nassau Elec pref
100
1st consol 5S 1948..J-J
N Y&ERGas 1st 5s '44 J-J
Consol 5s 1945.....J-J
N Y & Richmond Gas. 100
N Y & WestchesterL'ht'g—
Deb g 5s 1954 guar.J-J
Nor Un 1st 5s 1927..M-N
1e Standard Gas com..100
,
I
155
list
100
75
95
Exc
102
97b
list
75
83
80
100
list
103 " 105
Exc list
90
95
100
103
5S 1944
A-O
1st 4s 1951—see Stock
N W’bg 6» Flat 1st ex 4,4s
Steinway 1st 6s 1922..J-J
64*2
Exc
Exc
32
87
Other CUies
Buffalo Street Ry—
1st consol 5s 1931..F-A 103
Deb 0s 1917......A-O 104
Columbus (Oi st Ky__ 100 *9614
Preferred
.100 103
Coium Ry ccrn 5s—See Phi la '1st
Orosst’wn 1st 5s *33 J-D
e Gonn Ry & Ltg com. 100
74
e Preferred
...100
79
1st & ref 4 4s—See Stk EXC
Grand Rapids Ry pref .100
80
e Loutsv St 5s 1930
J-J 104*4
Lyhn & Bos 1st 5s '24 J-D 104
eNew Ori Rys & Lgt.100
225#
e
Preferred
100
1st 5s 1930
...M-N
Other Cures
Am Gas & Elec com.
Preferred
_
50
5u
Amer Light & lract-.lOQ
Preferred
__ioo
Bay State Gas
50
Biugb ton (N Y> Gas Wks
1st g 5s 1938
A-O
Brooklyn Un Gas—SeeStk
Buffalo City Gas stk. 100
1st 5s 1947—See Stock
Con Gas of N J 5s '36 J-J
Consumers' L H & Pow—
5s 1938
J-D
Denver Gaa a Elec
100
Gen g 5s 1949 op M-N
Elizabeth Gas Lt Co..100
Essex & Hudson Gas.100
Gas & El Bergen Co. .100
e Gr Rap 1st 5s '15. F-A
105
105
list
list
33*2
9?i4 Hudson Co Gas..*
100
Indiana Lighting Co.. 100
106
4s 1958 op...
..F-A
IO2I2 Indianapolis Gas
100
Exc
156
84*2
102
list
162
98
100
95
40
99
103
98
101
99
50
9812 101
55
fc7*.
102
106
43
42
278
105
*41
*40
275
103
*?
15
Exc
5s
95
list
41.
5*:
Exc
list
93
9o
110
150
85
300
134
73
95
132
31
63
10
75
155*
90
Ie.Con g 5s 1948...J-D
ih.zYiivi.-J'ity
'rj*Con: g 5^ 1949-4-Mriy
■>;
tv
;■ T,TVT,^-.-
*
Aper itutbi'rp Bixslsr
Pfm SX*-?
tc
$t Joseph Gas 5i
;>
j
SsHs
cn atk. ex / but hot
‘;r. 1.
.!
'
.
r,,
7 ., J- J
iiV.h
"j.
■*
.
.
98
93
very
.
M J
<> f
/
aictlVe-7
**
v‘*
\
*
101
2o
*6>>
Juggenheim Expior'n 100 .ICO
Hackensack
Water Co
Ref g 43 '52 op '12..J-J
Hall Signal Co com. .100
100
Havana Tobacco Co
Seaboard Company—
1st preferred
..100
Com & 2d prei—See Bai
Seaboard Air Line—
Coll 5s ext May 'll.M-S
West Pac 1st 5s '33..M-S
.
c
1st 6s 1922
r
MU
_.M t
M
l$t 6s 1948.......J-D
Refg 100
internat Smelt 6b
99
i.hternat'rimc Reco-d.lOu
Preferred
.100
Jones 6b Laugnun bteel Co
1st s f g 5s 1939..M-N
^Lackawanna Steel
100
99
h
» .
Barney 6: Smith Car._100
Preferred
100
Bethl'm Steel Corp—See s
Bliss Company com.. 50
Preferred
50
Bond 6b Mtge Guar
100
Borden's Cond Milk..100
Preferred
100
British Col Copper
5
Butte Coalition Mining 15
Preferred
_
100
Celluloid Co...
100
Cent Fireworks com. .100
Preferred
IOC
Central Foundry
100
Preferred
100
Lanston
98
97
98*
101
*99**2
240
250
125
J
MonongaUela R Coal
*7
Preferred
6)
125
124
•/
'
lirewing.. 5t
107#
134
2*4
-
55
98
*23*8
5t
62
slob
143
113
18 i
Safety Car Heat & Lt.lOi
Seneca Min ng
*-.
120
103
100
list
102
66
ilO
5
420
43
101
100
-.
290
14
cS
com
—
1st M g
list
67
82
no
150
116
123
2.
**
South Irou 6b s
42*2
----
Exc-
102
222
103
....
*
160
122
136
106
127
95
330
18
42
lo
-.
22
/18
/3
4
40
....
100
11
40
78
610
Exc
Exc
137
10J
145
1st 5s 1930
M
Standard Oit ot N J_.l(
^wift & Co—Sec Dost si
1st 5s—S'c Chic Stoc
Texas Company
l<
e Texas 6c Pacific Coal 1(
Title Ins Co of N Y_..l(
3
25
88’:
Tonopab Min (Nevada)
934
.
63
615
list
list
140
105
155
8
20
60
30
47
68*2
4%
Envelope
com...
U S Finishing
10(
Preferred
10( >
1st g Gs 19lo
J-.
Con g 5S 192 9
J-.
U S Steel Corporation—
Col tr s £ 5s '51 opt 'll
40
300
72
115
105
98
98
15
215
50
114
*98
xiu8
103
95
18
115
115
120
list
no
Exc
J
478
•
__
114
)
53
70
105
67
118
103
113
105
100
114
l
99>4
45
110
110
103
1
S
8*8
4
9834
United Cigar Mfrs....
e Preferred
.
14 45
40
107
107
*41
♦51
United Bk Note Corp.
3*4
.
*8*8
X
70
140
126
4
30
10
40
83
210
*105#
*1&8
2*2
u
Realty Assoc iBkiyni.lO.
234
list
200
*41*
5*2
98
101
*30
-
18*8
*8
60
EXO
100
25
78
17J
"
118
107
260
30
Preferred
lot
ract 6c Wlbtney prei.lOt
Producers Oil
IOC
92*V
*
1*2
*1HU
**ie
Pittsburgh Coa.—See Stk
jpe MlgCccom
...lOf
92*2
^ —
*1%
50
94
18
65*o
20
35
90
100
tk Ex Ust
125
130
125
135
237
242
113
115*?!
104
105
5
*47#
*17
17*8
....
t
--
rrt-
,
Jb' Mt re
vVestlhgh’’Se
hv ~ic
^
—
150
40
*21
Nlpissing Mines
Pittsburgh
1/ 86
Npmiuai.
>rni
85
N Y Transportation._
Nlles-Beui-Pond com.l
-v'?:J.
)
160
0
*138
4
-
Air Brake.
l
...
...18
n
2d Os 1919
M-N
Manhattan Transit...
Nev-Ulah Min & Sm.
eNew Central (Joai
NY Air Brake 6s—~See 1
N Y Biscmt 6s 1911. h
2*4
78
p,t.
245
110
104
250
6
Hit
40
86
*8*1* 8T7i
Monotype...100
Exc
1st g
J-J l-*?Col tr <NfcOCt 1956.1 JrJ
Consol, CarMl eatinj__
;05
105
100*2 101*2 <
Lawyers' Mtge Co....100
Leh 6e Wilkes-B Coal. 50
100*
/ 35
725
60
Preferred
100 105
3 Clatlln (H. B) com-.100
90
e 1st preferred
90
..100
e 2d preferred
99
100
Col 6b Hock Coat&1 pi 100
Jfdo
140
150
.
30
Deb 6s 1919 op 01.M-N
Chesebrough Mtg Co..100
10U
City Investing Co
$71917
_
100
----
ioi*&
75
-
62
120
•
*
4*2%
4*2%
Exc
-
5*2
12
6 yy-
997s
*.
99
99**
91*2
-
45
9
108- 105
30
40
HeFg-Hail-Mar, uew.lOo
Imp lOo
Hoboken Land &,
e 5s 1910
Houston Gli
Preferred
Hudsbtt Realty
L0134
98*2
industriai.and Mi seel
Adams Exp g 4s 1947 J-D /
Ah meek Mining
25 *._
Alliance Realty
100 12a
American Book
100 152
American Brass,
100 117
American Chicle;com. 100 216
Preferred
100
98
Am Graphophone com 100
Preferred
100
15
Amer Hardware
100 117
Am Malting 6s 1914..J-D 101
Amer Press Assoc’n
100
95
Am St Found new—see S tk EX
6s 1935
A-O 10J
Deb 4s l«23
F-A
63
American Surety
50 210
American Thread prec
*41<
0
Am Tobacco Co com..IOC 415
Amer Typefders com.100
40
Preferred
1O0
98
Deo g 6s 1939
M-N
93
Amer Yvrlting Paper.. 100
2
Preferred
100
22
1st s f g 5s '19 op '09 J-J
87*2
A MGf 6b W Ind SSL’nes 100
Preferred
100
16
Coi tr g 5s 1959
J-J
63*2
.
7
180
85
38
4G
Preferred
loo
1st g 5s June 1 ‘22 J-D
1950—See Stock Excb ange. list
Nat RyS of Mexico—See S t Exc list
North’n Securities Stubs. 10a
110
Pitts Bess 6b L E__
5o *32
34
Preferred
50
*6J
,7“
e Railroad Securities Co—
Ill C stk tr ctfs ser A 52
85
90
f Fiaif price.
:
*1116
-
Income 5s, July 1930.. /-—
2
Chicago Subway.....loo
Kansas City Sou 5s Apr l
Casualty Co of Amer.. 100
34
66
18
Vo"
8k.-}.'
1
137
.
00. a;
1
1Bie
wie
*8?f
,
l
J..‘_
Preferred
Casein Co of Am com.100
,
....
_
70
15
75
94
106
.
Gt$fcomatr
137
78
101
50
1st g 5s 1952..
A-O
85
Jackson Gas 5s g '37.A-O / 88
9-L
e Laclede Gas
100
9634 9714
e Preferred
100
80
100
105*4 Madison Gas 6s 1926. A-O 103
108
106b Newark Gas 6s 1944—Q-J
127
I Newark Consol Gas. .100
9812 99*2
e Preferred
100
57*4 58
104
106
Gen M g 4 4s '35—See S tk Ex list _No.Hudson L H 6s Pow—
Pub Serv Corp of N J.100 110
5s
115
1938..
; A-C
HO
Tr ctfs 2% to 6%perpet
aciflc Gas <
99
100
55
64
North Jersey St Ry.100
60
Preferred
87
$5
! 1st 4s 19.46r,.-./n-N
.85'.
90
76
81
list
60
10
65
85
102
....
5
.100
6
32
37
.100
110
45
.100
e Ingersoli-Rand com.100
93
70
e Preferred
lOo
97
32
i.ntercontm‘t'i Rubber.100
97
21*8 21*2
mternat'i Ban^'g co.100
110
internat' Mer Mar—See > tk Ex
ISt
137
993# international N)cke:..100 132
Preterred
90
98
■*..
100
92
1st g 5s 1932
93
2 A-c .f 91
99*4
8
6
96!r international Salt....100
1st
65
g 5s 1951
A-O f 50
09*4
international
Silver..100
50.
75
97*4
Preferred J
lOo 105« 110
100*2
987g
97J%
09U
9512
985#
9634
IOOI4
88
13*2
:
138
86
87
Alines.lo
Copper
s
132
04
22*2
...lOo
Creene-Canauea
96
--
30
102
102
78*
1st cons g 4s 1948..J-J
-
Gas Security
85
225
102
75
Exc~
Coney Isl & Bklyn.,100
_
......J-D
New York
Cent Un Gas 5s 1927 .J-J
Con Gas (N Y>—See Stk
e Mutual Gets.
100
New Amsterdam Gas—
80
95b
.
^
10
5*2
SJb
e
98
29
60
Chic
ctfs \ Set StOC.:
ePreferred tr ctfs.. /
list
Chic Peo & St L—
Pnor lien g4 Hs’30. M-S / 87
Con mtg g 5s 1930..J-J / 50
3
—-m ——
-
___.U
99*4
10212
.
UnitRys San Fran See Stk
Wash Ry & El Oo_ —.100
I Preferred
100
Brooklyn
1st g 5s '41 op '16. J-J
elstCon 5s '41 op’16 M-N
Bldyn Rap Tran—See Stk
e
list
list
170
18
Atlan Avenue RR—
Con 5s g 1931
99
A-O
B B & WE 5s 1933..A-O
97
Brooklyn City Stock-.. 10 150
Con 5s—S*e Stk Exch ange
Bkln Hgts 1st 5s 1941 A-O
95
Bkln Queens Co & Sub—
e
Preferred'
100
Gen 4s 1934—See Stock
50,
Ninth Avenue stock
Second Avenue stock-100
14
1st M 5s*09 ext'lo—M-N
99b
Consol 5s 1948,
F-A 7 50
#Sixth Avenue stock.. 100 120
Sou Boulev 5s 1945—J-J
60
So Fer 1st 5s 1919... A-O
88
Third Avenue—See Stock Exc
P
&
M
5s
1928
Tarry VV
7 50
YkersStRR5s 1946 A-O
75
28th & 29th Sts 5s '96 A-O / 15
Twenty-third St stk ..100 20 J
Union Ry 1st 5s 1942. F-A 100
Westchest 1st 5s '43 J-J
65
ion106
240
104
—
.
Metropol St Ry—See
73
—
100
220
7 45
ange
Exc
Stk Exc
100 160
Ask
70
100
-he
Chemical.._10o
Preferred
11*2
78
7/34
—
73
75
li6
132
97
981s
103
105
101
98
100
^
112
2d 6s opt 1914._A-C 100
1
list
I So Side El (Chic)—See Oh icago
Syracuse R T 5s '46..M-S lco - 101
95
VFreht P & H 5s 1943.J D
United Rys of St L—
Com vot tr ctfs
100
14*2
—
8u
18
80
Exc
100
ll
Bid
90
—
$305,30!)
“f
il5
115
75
ludson Companies'—
6s Oct 15 1911
97
A-O
6s Feb 1 1913.
F-A
961?
nterb R T g 6s 1911.M-N
10D«
i C Ry6sLlght 6s T2_M-b
97la
Jinn & St L g 5s *11.F-A
97
N Y C Lines Eq 5s 10-22 &4.7U
4Xs Jan 1911-1925--- 54,70
N Y N H 6s H 5s *10-'12 lOOJfi
St L 6s S F 4 Hs *12 op.F-A
9634
5s Mch 1 1913....M-S
96
South Ry g 5s 1913..F-A
97
Tidewater. 6s, 1913 guar 100b
Wabash 4Hs
1913.M-N
West Teiep 6sTos '12.F-A
9837
Westlngh^e E!6sM 6s 1910 100
34,000
t
5lf
105
105
60
•
i
$42, IOC
144,300
84,900
~
where marked
ked
Street Kariways
Pub Serv Corp N J (Com
Cons Tract of N J
100
1st 5s 1933
J-D
New’k PasRy 5s *80 J-J
Ask
16
21
50
60
120
140
98b ioi
Exc .1st
102
105
B'y & 7th Ave stk ...100
Col & 9th Ave 5s See Stock
Dry D E B & B—
1st gold 5s 1932
,J-D
Scrip 5s 1914
F-A
Eighth Avenue stock. 100
Scrip 6s 1914
FrA
42d & Gr St F*y stk -.100
42d St M & St N Ave.100
1st mtge 6s 1910.M-E
2d income 6s 1915.J-J
Inter* Met—See Stk Excb
Lex Av & PavF 5s See Stk
“and interest" except
Bid
btreet Railways
New York Ci y
Bleeok St & Fui F stk.lOO
1st mtge 4s 1950 — J-J
■t:
k
Bond
Outside Securities
bond
ihtge 5s 1919..J-D
sales.
.
r
HuLl DAY
HOL1 DAY
;
Gold Hill
General
y.sk
1*4
*
10.
leeker-Jones-Jeweli
Short-1 erm Notes
Cig ser A 4s T1..M S
Ser B 4s Mch 15 *12 M-S
Philadelphia,
Listed
Cold Held Con so-
120
94
24
£0
94
102
95
35
60
28
94
Union Ferry stock..100
e 1st 5s 192Ji
..M-N
e
PHILADELPHIA
.
shares.
Tuesday.
Wednesday
Thursday
All
Perry Companies
m
....
75
118
40
d 6s N Y 1st 6s.19M.J-J
NY 6s R R Ferry stk. 100
1st 5s 1922.
M-N
x Y.6sHob 5s
May *46.J-D
Hob Fy 1st 5s 1946 M-N
NY 6s NJ 5s 1946..I. J-J
10th 6s 23d Sts Ferry.100
.
$207,700
22.476,700
731.171.40C
....—)
Saturday..
8.
28,034,700
349,930,500
'Boston..
71
65
...ioo
lelen.100
8 Northwestern
Teieg. 50
Paciflc 6s Atlantic.... 2£
ePac Teiep 6s Teieg pt.lOC
Southern 6s Atlantic.. 25
....
7 Gold 6s Stock
101,753,020
$9,317,226,708
$241,500
Central. 6s So Amer. .100
i.
,
*
■
.
Empire Steel
f
Bmp & Bay State Tel. 100
Franklin
$5,000
604,000
19,425,500
Week -ending
,
1910.
TRANSACTIONS AT THE BOSTON
; =
EXCHANGES.
$$
:
.,
51
Cpmm'l Un Tel (N Yi. 25 1*05
503
$3,500
740,500
6.694,000
_
Total bonds.
DAILY
1909:
:
'
ielegraph and Telephone
Amer Teieg & Cable. 100
9
?
Jan. 1 to July
8.
2,978,005
1,842,480
101,637,260
$265;044,400 1174,196,625 $9,146,177,325
$677,700
$2,000
^5.500
State bonds
RR. and mlsc. bonds.
,
ending July
$1,462,000
'
-
32
49
;o
75
Bid
?
Preferred
HOL1 DAY
HOL1 DAY
«...
*/V*
*85
...
Saturday
Monday
Tuesday.—
Wednesday
Thursday a -1 .*
75
28
inuustriai and M-.sce<
Crucible Steel
to.
e Preferred
lOo
Jr.vu-Da!y Copper Co.1>» Diamond
Match C3o.10j
JuPontCEDdeNemPo 10j
e Prcterred
10j
e Gold 4J$S 1930...J-ti
Electric Boat
100
Preferred
10
T 45
Preferred
10J
United Elec of N J...100
1st g 4s 1949
.J-D
Western Power com.100
Preferred
jou
U. 8.
Bonds.
State
Bonds.
Bonds.
BU
Jhic Edison Co—See Chi cago
Gr't West Pow 5s '46.J-J
93
1
Ktn*$ Co E. L&P Co 100 121
Narraghn (Prov) El Co. 50
NYdsQE! L dfePowCo 100
...
Railroad,
«kc„
LXXXXI.
--44-—
M;
_
170
135
EX3 Ust
104*2.
tahsog
*
(abr,m
( •)
J
’
1.
A
:>
v;
>.
'ft
li.l
^^-ki-Kliv.Iy'1
VEx-nkhlisy^f'> NeVF 8|pck*
4
■
.
r;r. ;
4
JruY 9
1910.)
THE CHRONICLE
muestmeut and
rtAILROAD
89
Railroad Intelligence.
GROSS
EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which
regular weekly or monthly returns
can be obtained.
The first two columns of figures give the
gross earnings for the latest week or month, and the last two
columns-the earnings fbr the period from July 1 to and
including such latest week
statement to show the fiscal year
period
The returns of the electric railways
are
Latest dross biaminos.
ROADS.
Week or
Month.
Ala N O & Tex Pac
N O & Nor East. 1st wkJune
Ala it
Vicksburg
1st wkJune
Vicks Shreve it P 1st wkJune
Ala Tenn & North.. May
Atch Top & S Fe
May
Atlanta Hlrm & Atl 3d wk June
Atlantic Coast Line May
^Baltimore & Ohio. May
Bangor & Aroostook
Bellofontc Central..
Boston it Maine
Bridgeton it Saco R
Buff Roch & Pitts._
May
May
May
May
Buffalo & Susq
Canadian Northern.
Canadian Pacific.
Central of GeOrgla.
Central of N w Jers
_i...
Previous
Year.
Year
,■
21,000
4,339
79,339
57,668
2.763.501
2,654,734
9,091,484 8,050,275 96,534,165 86,163,215
40.829
36,989 2,515,656 2.022,252
2,416,692 2,152,584 27.615,290 24,111,047
7,629,509 6,342,551 79,143,355 68,219,470
231,980
200,762
’
April
104,213
116,571
3,646
372.400
260,600
2,735,000 1,971,000
374,600
230,100
2,409,530 2,000,890
326,269
293,526
June
2,325
1,530
Chesapeake & Ohio. 3d wk June
568,733
564,453
Chicago & Alton Ry 4 th wkJune
243,998
198,654
Chic Burl it Quincy May
6,817,633 6.139.750
pChlc Great West
4 th wkJune
232,911
206,582
Chic Ind it Loulsv. 4th wkJune
148,476
140,786
Chic Ind & Southern
Chic Mllw & St Paul
Ch Mil & Pug Sd
Chic & North West.
Chic St P M & Ora..
Chicago Term Trans
Cln Ham it Dayton
Glev Cln Chic it St L
Colorado Midland..
Colorado & South..
Colum Newb it Lau
See New
March
.
46,985
8,997,565
1319,719
12,821,200
94,585,673
12,038,481
25,724,463
3.470,425
92,662
30,378,616
13.293,479
80,769,043
12,050,909
5,989,437
43,910
7,235,558
1.908.461
9.668,900
76,117,166
11,155,177
23,415,034
3,202,035
78,549
25,863,002
12,500,682
72,185,863
10,757,010
5,309,379
5,304,850 4,566,232 59,279,555 54,912,827
1,292,900
....
May
—See New
April
4th wkJune
March
....
Copper Range
Cornwall
Cornwall & Leban.
Cuba Railroad
Delaware it Hudson
Del Lack & West..
Denv it Rio Grande
Denver N W & Pac
Det Tol it Iront Sys
Ann Arbor
Detroit it Mackinac
Dul it Iron Range..
Dul South Sh it AU
El Paso & Sou West
Erie
Fairchild & Nor E__
Fonda Johns it Glov
Georgia Railroad..
Georgia South it Fla
Grand Trunk Syst..
Grand Trk West.
Det Gr Hav it MU
Canada Atlantic.
Great Northern Syst
Gulf it Ship Island.
York Cen tral.
May
April
May
May
_
April
May
May
May
May
May
6,077,305 5,274,382 ■67,598,874 60,306,934
1,168,593 1,011,354 13,810,686 12,381,012
126,448
88,018
949,603
812,144
783,171
651,715 8.615.502 7,254,620
York Cen tral.
181,282
167,835 1.968,642 1,929,649
454,480
367,230 16,658,957 15,080,412
30,941
30,658
222,060
221,921
55,117
55,066
615,500
625,160
15,673
9,539
186,318
95,645
35,356
2T.467
400,092
300,885
232.401
193,540 2,333,138 1.900.461
1.736,558 1,721,789 18,322.738 17.362,205
3,079,224 2,819,060 32,811,*824 30,070,483
597,200
581,700 23,493,051 20,840,804
28,343
21,331
956,556
647,724
43,740
32,615 1,575,364 1,490,874
37,154
315,527 1,821,747 1,680,254
35,088
31,017 1,227,531 1,147,360
1,760,886
723,874 8,996,184 5,798,886
95,213
87,174 3,301,053 2,730,005
674,682
666,289 6,071,891 6,013 350
4,506.138 4,289,265 50,197,299 46,020,293
1,779
1,642
23,206
18,983
79,911
71.396
825,460
704,134
220,383
159,623 2,814,171 2,571,853
*
4th wkJune
3d wk June
3d wk June
3d wk June
4th wkJune
May
4th wkJune
April
May
May
May
May
—See Sout hern Rail way.
1,350,612 1,195,366 40,311,472 35,941,755
126,777
123,901 6,039,856 5,427,561
42,197
40,883 1,953,354 1,655,435
3d wk June
40,621
38,976 1,987,756 1,757,634
June
5,669,430 4.753.751 64,076,862 53,658,463
April
169,018
153,326 1,781,276 1,582.280
Hocking Valley
May
655,85v
396,278 6,8/3,33 5 5,409.396
Illinois Central.... May
5,064,166 4,66-5,394 57,334,967 52,626,824
Internat it Gt Nor. 3d wk June
142,000j 127.600 8,273.131 7,918.954
a Interoceanlc Mex. 4th wkJune
248,303
230,405 7,895,351 7,401,495
Iowa Central....
4th wkJune
58.830
54,895 3,359,659 3,015,646
Kanawha & Mich
April
195,572
161,620 2,278,470 1,795,884
Kansas City South. May
888,920
770,137 8.863.194 8,140,513
K C Mex it Orient 3d wk June
32,500
28,000 1,729,000 1,294,821
4 th wkJune
3d wk June
3d wk June
Lehigh Valley..__ May
Lexington & East.. April
May
; Long Island
Louisiana & Arkan. May
Loulsv Hend it St L May
■
Loulsv & Nashv..
i Macon it Birmlng'm
s
j Maine Central
!
.
ManLstlque
Maryland it Penna.
a
a
,
Mexican Internat.
Mexican Railway.
3,180,360 2,830,346 32,915,051 30,211,292
45,150
42,417
374,403
339,633
Inc 116, 596
Inc 1,092, 358
114,881
98,581 1,209,021 1,093,989
88,006
85,205 1,080,450
039,522
4th wkJune 1,267,735 1,042,623 52,410,909 45,425,892
May
8,527
10,206
130,345
130,845
May
745,491
689,899 8,146,916 7,582,416
May
3,564
3,381
36,111
42,835
May
33,894
33,733
376,707
348,217
4 th wkJune
233,542
179,952 8,842,231 6.953,284
3d wk June
147,900
146.600 7,830,700 6,968,300
-
Michigan Central
—See New York Cen tral.
Mineral Range
4th wkJifne
23,055
20.396
829,040
821,832
Mlnneap & St Louis 4th wkJune
98,484
81,077 4,938.484 4,171,314
Missouri Kan it Tex June
1,994,061 1,890,871 26,587,256 25,300,915
Minn St P it S S Ml 3d wk J une
448,717
390,589 23,377,061 19,432,365
Chicago Division/
Mississippi Central. May
74,164
60.055
811,967
641,165
Mo Pr.c it Iron Mt I
Central Branch.) 4th wkJune 1,437,000 1,275,000 53,025,125 46,384,010
Nashv Chatt & St L May
1,006,508
011,996 10,610,955 10,224,879
a Nat Rys of Mex
4th wkJune 1,520,269 1,296,484 52,444,170 48,805,522
Nevada-Cal-Oregon 4th wkJune
9,491
447.194
12,784
406,650
Nevada Central.... March
446
4,87
47,828
55,166
N O Great Northern May
153,991
64,825 1,354,065
555,342
N O Mobile & Ghlc. vVk June25
29,207
26,792 1,666,239 1.501.404
_.
-
..
AGGREGATES OF GROSS
Weekly Summaries.
3d
4th
1st
2d
3d
4th
1st
2d
3d
4th
tvt
Qur nt Year Pret's
week
week
week
week
Apr (42 roads).
Apr (44 roads).
May (45 roads).
May (4.6 roads).
week May (45 roads)
week May ; 141 roads)
week Jun^
week June
week Juhe (42 roads).
week June (31 roads).
mm-.
v/
N. Y.
« -
..
Rry.j, the latter
V5
or
Year
12,229,790
16,759 458
10,714,807
14,156,647
12.190.260
10,473,086
10,762.798
12,383,885
;i^74<681 10,784^565
10)954 SY
ni;iii$53l49
l18'l05?719
7,10*84.237 -14,038^471
which,
ROADS.
e
2,905,755
1,475,091
1,316,315
235,826
Central Vermont
Chattanooga South. 3d wk
Latest Gross Karninas.
l*revious
Year.
3,274,745
1,593,457
1.356,256
4,390
271,234
May
May
Current
Year. ■?
47,000
23,000
4th wkJune
4tn wkJune
.
July 1 to Latest Date.
Current
55,000
29,000
23,000
8,911
-Ui23dM
13,073^508
14,854,289
.
-
year
.
7,464
4.218
61,351
67,403
3,610,825 3,339,937 39,692,974 36,079,826
4 th wkJune
4 th wkJune
__
or month.
We add a supplementary
does not begin with July, but covers some other
brought together separately on a subsequent page.
;
totals of those roads whose fiscal
11,348 20:
12,626(91
+ 1,514,983 14.21
+ 2,602*811 18.38
+ 1,717,174 16.39
+ 1,621,087 15.06
+ 1,690 118 15.67
XOU. 17,42
I
2.445,M
fbko
377 1
m t_6.60
-+2i227,37|
N Y C it Hud Rlv May
Lake Shore it M S May
n Lake E it West May
Chic Ind & South May
Current
Year.
Previous
Year.*
Current
Year.
Previous
Year
8,332,291
4,037,469
415,140
273,213
2.354.760
2,321,094
282,087
08,515
1,525,159
294,953
898,878
7,417,310 89,174,799 80,494,625
3,472,217 44,385,222 37,836.902
372,549 5.024,576 4,187,800
394,914
344,347 20,017,846 17,634,496
234,221 3,482,572 2,597,690
Michigan Central. May
2,104,970 26,419,576 23,304,549
Cleve C C it St L_ May
2,130,103 26,932,392 23,766,025
Peoria it Eastern May
219,097 3,003,140 2,573,512
Cincinnati North. May
78,567 1,137,473 1,025,210
Pitts & Lake Erie May
1,088,687 15,733,286 10,797,640
Rutland
May
261,291 2,929,150 2,631,178
N Y Chic it St L- May
814,105 10,035,314 8,642,562
Tot all lines above May
20833559 18253117 228257496 197857693
Tol & Ohio Cent. May
419,594
309,797 3,873,635 3,777,869
N Y Ont it Western May
752,985
641,556 7,785,924 7,570,841
NYNH4 Hartf.. May
5,391,264 4,761,765 55,265,485 49.520.363
N Y Susq it West-_ May
280,241
261,112 3,186,068 3,091,306
Norfolk Southern. May
228,264
2,444,977
Norfolk A Western. May
3,052,689 2,521",668 32,061,947 26,581”,651
Northern Central.. May
1,045,065
982,065 11,812,946 10,648,846
Northern Pacific
May
6,559,387 5,451,967 67,750,744 62,313,050
Pacific Coast Co
617,31-0
April
566,582 6,544,261 5,319,708
Pennsylvania Co
May
4,816,621 3,748,945 48,315,893 37,465,559
d Penn—E of P & E May
13771 933 12032 133 150091 103 129838703
d West of P & E_ May
Inc 1,61 7,100
Inc 17,25 0,300
Pere Marquette
May
1,322,130 1,147,005 14,696,030 12,973,887
Phlla Balt it Wash. May
1,714,258 1,547,158 16,586,232 15,408,532
Pitts Cln Ch it St L. May
2,806,208 2,335,634 30,772,155 25,106 576
Raleigh it Southp’t May
12,000
11,409
146,181
128,738
Reading CompanyPhlla it Reading. May
4,025,723 3,235,707 41,488,367 36,877,795
Coal it Iron Co__ May
2,983.331 2,545,783 31,239,235 32,838,555
Total both cos
7,009,054 5,781,490 72,727,602 69,716,350
May
Rich Fred & Potom April
239,410
201,923 1,855,625 1,604,991
Rio Grande June
81,177
April
881,019
722,659
76,^6
Rio Grande South.. 3d wk June
9 849
12,983
529,575
562,885
Rock Island Lines.. May
4.931.411 4,740,911 60,179,709 55,741,416
St. Jos & Grand Isl. April
120,641
110,911 1,377.333 1,349,685
St Louis it San Fran May
3.170.249 2,989,684 38,020.133 34,696,825
Chic it East Ill.. May
779,301
787,822 10,809,617 9,451.491
J Evansv it Ter H May
200,852
156,893 2,259,233 1,937,316
Total of all lines. May
4,150,401 3,934,398 51,088,983 46,085,632
St Louis Southwest. 4th wkJune
246,161
240,676 10,956,480 10,331,889
San Ped LA&SL. April
296,179
721,510 5.300.684 5,997.257
_
__
....
_____
Seaboard Air Line. t
Atlanta it Blrm. )
Florida W Shore j
Southern Indiana..
Southern Pacific Co
Southern Railway..
Mobile it Ohlo...
ClnNO & T P
Ala Great South.
Georgia So & Fla
Texas Central
Texas it Pacific
Tidewater it West.
Toledo Peor & West
Toledo St L & West
.
4th wkJune
April
79,658
106,151
1,139,605
May
4th wkJune
4 th wkJune
8,753
6,678
35,777
66,304
33,452
73,508
76,196
,68,481
1,172,384 1,094.157
3,765,677 3,428,643
77,886
75,151
82,719,139 71,886,284
8,960,446 8,064,739
1,105,608 1,055.851
28,841,305 25,868,034
5,844.356 4,959,891
5,417,934 4,927,834
6,305,246 5,124 281
-
Tomblgbee Valley.. May
7,048
7,112
Union Pacific Syst. May
7.535.249 6,517,785
Vandalia
May
825,266
708,285
Virginia it Sou West May
87,678
74,718
Wabash
4th wkJune
735,946
718.387
Western Maryland. April
656,086
471,391
W Jersey & Seash
May
507,550
449,250
Wheeling & L Erie. May
593.702
484,704
.....
.
987,792
11459 127 9,972,593 123728 194 110124 420
May
4th wkJune 1,300,517 1,200,731 57,185,939 51,661,579
3d wk June
207.899
177,606 10,352,115 9,498,604
3d \yk June
181,191
144,885 8,824,036 7.601,295
3d wk June
81,512
65,154 4,095,100 3,455,256
3d wk J une
38,009
37,602 2,267,662 1.947,596
1st wkJune
14,690
16,902
967,456 1,115,646
4th wkJune
366,749
316,165 15,775,759 14,537,923
_
White River (Vt)__ May
Wrlghtsv it Tenn.. May
Yazoo & Miss Vail. May
_____
2,924
17,682
852,997
Various Fiscal Years.
287*069
Period.
Beliefonte Central
Ian
Jan
1
1
Jan 1
Manlstique
a Mexican Railway
Jan 1
eNY Central it Hudson River. Jan 1
Lake Shore & Michigan South Jan 1
n Lake Erie & Western.
Jan 1
Chicago Indiana & Southern. Jan 1
Jan 1
Michigan Central...
Cleve Cln Chicago it St Louis Jan 1
Peoria & Eastern
Jan 1
Cincinnati Northern
Jan 1
Pittsburgh it Lake Erie
Jan 1
Rutland
Jan 1
x
New York Chicago it St Louis Jan 1
Total all lines (11)
Jan 1
Northern Central
Jan 1
d Penn—East of Plttsb & Erie.
Jan 1
d West of Plttsb it Erie
Jan 1
Phlla Baltimore it Washington. Jan 1
Plttsb Cln Chicago & St Louis
Jan 1
Rio Grande Junction
Deo 1
Texas it Pacific..
Jan 1
West Jersey it Seashore.
Jan 1
Delaware it Hudson
2,221
14,969
705.387
;
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
‘
May 31
May 31
9,371,847
Current
Year.
Previous
Year.
$31,270
8,021;555
16,330
iviay 31
248 A 48
9,635,390
$24,193
7,751.628
Monthly Summaries.
Month
Month
Month
Month
Month
Month
June 21
3,988,700 3.523,800
May 31 38,576,707 34,877,862
May 31 19,519,335 16,596,550
May 31 2,147,930 1,782,760
May 31 1,685,943 1,208,905
May 31 11,594,479 10,413,316
May 31 11,782,675 10,335,098
May 31 1,312,668 1,107,569
May 31
484,414
442,596
May 31 6,676,984 4,602,736
May 31 1,196,773 1*109,464
May 31 4,630,582 3,930,125
May 31 99,608.500 86,306,981
May 31 5,145,292 4,701,192
May 31 66,666,862 57.562,262
May 31 Inc 7,959. 500
May 31 7,430.394 6,944 394
May 31 14,002,572 11,161,782
389,^84
April 30
June 30
May 31
7,433,275
2,050,528
339,019
6,618,168
1,861,328'
Cur'nt
Year Pret's
4
3
Year
Inc. or Dec.
%
S
Aug 1909 (883 roads)
236,559,877 206,877,01** + 29,682,863 14.35
Sept 1909 (882 rofcds). 246,065,956 219.,013,703 + 27,052,253 12.35
Qct 1909 (881 roads). 222,008,184 205,455 121 + 16.551,063 8.05
.
Nov
Dec
Jatt
Month! Feb
Month Mph
1909 (756 roads). 247,370.954 211,281,504 + 36,089,450
1909 (758 roads)
260.613,053 232,261,182 + 28,351,871
1910 (740 roads). 210.302,219 182,649,825 +27,652^394
1910 (773 roads) 202,258,490 174,159^723 +28,098,767
roads). 237,533.005 204.916L997 + 32,616,008
;19lb-(7^
_
Month Apr 1910 (690 ri>ads).
Month May 1910 ( 48 roads*
221,213,902 194,040,806
60,439^75
51,6671,004
17.08
12.21,
15.14
16 15
15.92
+27,164,096 14.00
4-8,772,771 16.98
OOer^nte^ b^ffS^d.
' e Ja&udcsthe New'Yhrk^A^mwa,
St, Lawrence: A Adlrhndafck and W#&*w**£
being a Canadian roaa,
does not make returns
to the Inter-State the
Commerce Commission,
f Includes Evansville «
.Indiana RR.
o Includes the Cleveland Lorain it Wheeling Ry. In both years,
n Includes the Northern Ohio
'
RRt p Includes earnings of MasonClt/
it Ft- Dodge and Wise. Minn, it Pacific,
s Includes Louisville & Atlantic from
July 1 1909 and the Ffhnkfort & Cincinnati from Nov- 1 1909.
-
16,788
.
EARNINGS—Weekly and Monthly.
Inc. or Dec.
+
Week or
Month.
July 1 to iMtest Date.
t
90
THE CHRONICLE
Latest Gross
Earnings by Weeks.—In the table which fol¬
lows we sum up separately the earnings for the fourth week
of June.
The table covers 31 roads and shows 17.61% in¬
crease in the
aggregate over the same week last year.
Fourth
Week
of June.
1910.
Buffalo Rochester As Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia
Chicago & Alton.
Chicago Great Western
Chicago Ind As Louisville
Colorado As Southern
Denver As Rio Grande
Detroit As Mackinac
Duluth South Shore As Atlantic.
Grand Trunk of Canada
Grand Trunk Western
Detroit Gr Hav As Milw
Canada Atlantic
Interoceanic of Mexico
Iowa Central
Louisville As Nashville
Mexican International
Mineral Range
Minneapolis As St Louis
Missouri Pacific
National Rys of Mexico
Nevada-Californla-Oregon
St Louis Southwestern.
Seaboard Air Line
Southern Railway
Texas As Pacific
Toledo Peoria As Western
Toledo St Louis Ab Western
Total (31 roads)
Net Increase (17.61%).
Decrease.
Increase
1909.
3
271,234
372,400
2,735,000
274,600
243,998
232,911
148,476
454,480
597,200
35,088
95,213
3
235,826
260,600
1,971,000
230,100
198,654
206,582
140,786
367,230
581,700
31,017
87,174
3
35,408
111,800
764,000
44.500
45,344
26,329
7,690
87,250
15.500
4,071
8,039
1,350,612
1,195,366
155,246
248,303
58,830
1,267,735
230,405
54,895
1,042,623
179,952
20,396
81,077
1,275,000
1,296,484
12,784
240,676
17,898
3,935
225,112
53,590
2,659
17,407
162,000
223,785
233,542
23,055
98,484
1,437,000
1,520,269
9,491
246,161
394,914
1,300,517
366,749
35,777
66,304
735,946
Wabash
1344,347
1,200,731
316,165
33,452
73,508
718,387
3,293
5,485
50,567
99,786
50,584
2,325
7,204
17,559
14,854,289 12,626,917 2,237,869
2,227,372
10,497
For the month of June the returns of 30 roads show
Month of June.
1909.
Gross earnings (30 roads)
1909.
Increase.
3
3
3
48,243,957 41,484,758 6,759,199
as
3
Line.a—May 2,416,692
July 1 to May 31
27,615,290
Boston As Maine.b
May 3,610,825
July 1 to May 31
39,692,974
Bridgeton & Saco River.May
4,390
July 1 to May 31
46,985
Chicago As Alton.a
939,564
May
July 1 to May 31
12,259,659
Chicago Burl & Quincy.bMay 6,817,653
,
July 1 to May 31
80,769,043
Chic Milw & St Paul.b--May 5,304,850
July 1 to May 31.
59,279,555
Chicago As North Wes.b.May 6,077,305
July 1 to May 31
67,598,873
Chic St Paul Minn & O.b.May 1,168,593
July 1 to May 31
__13,810,686
Net Earnings
Current
Year.
3
3
2,152,584
666,227
24,111,047
9,420,322
3,339,937
1,052,729
36,079,826 11,436,310
3,664
1,155
43,910
13,225
965,953
s203,516
11,567,817 s3,873,155
6,139,750 1,247,664
72,185,863 23,132,622
4,566,232
1,416,943
54,912,827 17,972,938
5,274,382
1,580,542
60,306,934 19,837,999
1,011,254
328,706
12,381,012
4,802,657
246,847
74,112
2,449,854
933,548
Previous
Year.
3
558,900
7,593,603
1,129,620
10,406,143
1,177
12,239
5
May
655,856
396,278
245,664
128,754
6,873,336
5,409,396 2,580,521
1,747,580
Illinois Central.a
May 5,064,166 4,665,394
778,750
1,264,874
July 1 to May 31
57,334,967 52,626,824 11,743,752 12,094,589
Louisiana & Arkansas __May
114,881
98,581
46,181
34 535
July 1 to May 31
1,209,021
1,093,989
446,199
326,831
Louisville & Nashville.b-May 4,528,322
3,647,894
1,103,604
1,182,654
July 1 to May 31
..48,199,574 41,898,184 16,791,603 14,517,724
Maine Central.b —.—May
745,491
689,899
216,955
181,097
July 1 to May 31
8,146,916
7,582,416
2,717,878
2,292,396
Mineral Range.b
May
63,900
66,119
def2,525
4.655
July 1 to May 31
763,762
755,806
82,788
119,897
July 1 to May 31
Mississippi Central.b-..May
74,164
60,055
30,415
22 617
July lto May 31______
811,967
641,165
331,180
247,816
Missouri Pacific.b
.May 4,310.238 3,593,815 1,194,609
640.060
July 1 to May 31
48,795,125 42,629,010 14,194,012 11,612,035
Nashv Chatt & St L.b-.May 1,006,508
911,996
198 089
282,231
July 1 to May 31
10,610,955 10.224,879 2,934,930 2,548’,730
C N YCent & HudRiv.b.May 8,332,291
7,417,310
2,297,872
2,208 662
Jan 1 to May 31
38,576,707 34,877,862
8,919,013
9,255,807
L Shore & Mich So-b.May 4,037,469
3,472,217 1,042,479
1,241.616
Jan 1 to May 31
19,519,335 16,596,550
5,930,259 5,714,349
eh Erie As Western.b.May
415,140
372,549
47 448
40,393
Jan 1
to
May 31
2,147,930
Chic Ind As Southern b May
273,213
Jan 1 to May 31
1,685,943
Michigan Central.b--.May 2,354,760
Jan 1 to May 31
11,594,479
CleveCinCh&StL.b.May 2,321,094
Jan 1
to
May 31
11,782,675
Peoria ds Eastern.b--May
282,087
Jan 1 to May 31
1,312,668
CinoNorthern
May
98,515
Jan 1 to May 31
484,414
Pfttsb As Lake Erie .b.May 1,525,159
Jan 1
to
May 31
6,676,984
1,782,760
234,221
1,208,905
2,164,970
10,413,316
2,130,103
10,335,098
460,969
214)280
64,547
504,929
647,165
270)413
3,357,807
2,999,307
53 008
643 293
359,334
568.828
2,751,757
2,457,058
73,065
1,107,569
53 265
365,804
254,978
78,567
442,596
1,088,687
def2,298
4 150
88,701
841,163
3,534,005
608 198
219,097
4,502,736
Companies.
g
71,818
2,133,117
Year.
Year.
3
45,988
136,111
Mexican Tel & Tel Co.May
Mch 1 to May 31
3
60,406
260,631
263,958
1,059,364
5,752,832
24,691,122
94,832
1,239,606
181,796
2,209,060.
1,473,914
13,082,075
n22,936
nl01.706
11,195
186,830
1,138,602
11,723,967
277,351
2,991,279
60,588
717,151
1,476,540
15.432,396
37,087
403,568
180.433
2,054,181
416,097
4,371,307
155,220
1,000,816
pll0,846
pl,050.936
146,690
1,981,936
45,042
1,041,208
Net Earnings
Current
Previous
Year.
Year.
3
37,444
109,864
$
23,135
71,685
19,856
57,881
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes,
a
Includes'the N. Y. As Ottawa, the St. Lawrence As Adirondack and the
Ottawa As N. Y. Ry., the latter of which, being a Canadian road, does not
make returns to the Inter-State Commerce Commission.
e Includes the Northern Ohio RR.
g These results are in Mexican currency:
p For May miscellaneous credits to Income showed a deficit of 36,565,
against a deficit of 312,259 in 1909. and for period from July 1 to May 31
there was a credit of 3366,694 In 1910, against 3339,005 in 1909.
c
These figures represent 30% of gross earnings.
After allowing for miscellaneous charges to income for the month of
May 1910, total net earnings were 3188,387, against 3382,890 last
year,
•nd for period from July 1 to May 31 were 33,400,294 this year, against
n
s
J4.051.708.
Interest
s398,966
s4,381,449
1,039,372
22,804,709
1,249,216
19,541,813
1,577,820
21,119,369
275,420
4,371,776
Duluth So Sh & Atl.b..May
298,112
69,780
July 1 to May 31.
2,999,166
675,204
Grand Trunk of Canada—
Grand Trunk Ry
May 2,856,149 2,481,429 1,028,778
927,068
July 1 to May 31
30,740,715 27,423,497 7,607,121
7,401,107
Grand Trunk Western May
532,882
461,345
88,084
130,423
July 1 to May 31_,
5,711,645
5,079,999
1,393,715 1,328,974
Det Gr Hav & Milw ..May
165,948
142,102
14,113
27,739
July 1 to May 31
1,848,190 1,544,962
408,260
324,662
Canada Atlantic
May
176,167
154,754
18,979
18,979
July 1 to May 31
1,878,487 1,645,105
299,405
90,235
Great Northern.b
*May 5,708,014 4,273,553 1,730,016 1,306,642
July 1 to May 31.
58,407,432 48,904,712 23,342,541 19,070,833
Hocking Valley.b
Gross Earnings
Current
Previous
16.35
Monthly to Latest Dates.—The table fol¬
lowing shows the gross and net earnings of STEAM railroads
and of industrial companies reported this week:
Year.
INDUSTRIAL COMPANIES.
3
Net Earnings
Roads.
Net Earnings
—
Previous
Current
Year.
Roads.
$
3
3
New York Central Lines (continued)—
Rutland, b
May
294,953
261,291
73,047
Jan 1 to May 31
1,196,773
1,109,464
302,833
N Y Chic & St L.b.-.May
282,569
898,878
814,105
Jan 1 to May 31.
4,630,582
3,930,125
1,552,825
Total all line above b-May20,833,559 18,253,117
5,719,341
Jan 1 to May 31
.99,608,500 86,306,981 27,768,902
Toledo & Ohio Cent.b.May
419,594
309,797
158,722
July 1 to May 31
3,873,635 3,777,869
1,293,932
N Y Ontario & West.a.May
641,556
752,985
241,487
July 1 to May 31__
7,785,924
7,570,841
2,235,952
Pennsylvania Company bMay 4,816,621 3,748,945 1,698.932
July 1 to May 31
48,315,893 37,465,559 16,725,010
Rio Grande June
81,177
Apr
76,456
n24,253
Dec 1 to Apr 30
389,794
339,019
nll6,938
Rio Grande Southern.b_May
42,494
14,915
48,760
July 1 to May 31
490,081
533,250
140,807
St Louis & San Fran.b-.May 3,170,249
2,989,684
949,455
July 1 to May 51
38,020,133 34,696,825 11,530,345
Chic As East Ill.b
May
779,301
787,822
222,265
July 1 to May 31.
10,809,617
9,451,491
3,433,115
Evansv & T H’te.b.-May
200,852
156,893
77,385
July 1 to May 31
2,259,233
868,503
1,937,316
Total all lines.b
May 4,150,401
3,934,398
1,249,105
July 1 to May 31
.51,088,983 46.085,632 15,831,963
St L Rocky Mt & Pac_a-May
182,858
137,255
66,826
July 1 to May 31
1,793,247
1,294,094
609,178
St Louis Southw.a
May
811,548
757,885
61,063
July 1 to May 31
10,119,600
9,546,379
2,317,985
Seaboard Air Llne.a
May 1,691,413
1,495,980
512,294
July 1 to May 31-.
18,474,099 16,259,574
5,761,284
Texas & Pacific.b
May 1,188,363
1,062,934
136,276
Jan 1 to May 31___6,270,394
5,621,513
1,274,842
Tol St L & West.a-.-.-May
284,062
321,033
pl28,759
July 1 to May 31.
3,466,330
3,134,449 pi,133,010
Vandalla b
708,285
May
825,266
158,343
July 1 to May 31
8,960,446 8,064,739 2,179,041
Yazoo As Miss Vall.a-._May
852,997
705,387
106,979
July 1 to May 31
9,635,390
9,371,847
1,439,088
%
It will be seen that there is a gain on the roads reporting
in the amount of $6,759,199, or 16.35%.
Gross Earnings—
Current
Previous
Year.
Year.
Gross Earnings
Current
Previous
Year.
Year.
_
follows:
Atlantic Coast
[Yol. lxxxxi
Charges and Surplus.
—Int., Rentals, Ac.—
Current
Previous
Roads.
Year.
Year.
3
Bridgeton A; Saco Rlver.May
593
July 1 to May 31
6,613
Duluth So Sh As Atl
May
97,656
1,060,660
July lto May 31
Hocking Valley
a48,820
May
a381,972
July 1 to Mya 31
Louisiana As Arkansas.-May
26,666
July 1 to May 31
267,941
Mineral Range
May
13,327
July 1 to May 31
555,815
N Y Ontario As Western-May
101,134
July 1 to May 31
1,069,192
Rio Grande Junction
8,333
Apr
Dec 1 to Apr 30
41,667
Rio Grande Southern
May
20,678
July 1 to May 31
217,053
St L Rocky Mt As Pac-.-May
32,486
369,506
July 1 to May 31
St Louis Southw
May
176,870
July 1 to May 31
1,898,266
a
£
3
.
—Bal. of Net E’ngs.—
Current
Previous
Year.
Year. A,
3
3
635
562
542
6,916
6,612
5,323
92,228 rdefl9,839 £def20,772
998,403 rdef76,469xdef271,403
a80,047
196,844
48,707
a444,537
2,198.549
1,303,043
21,009
29,200
22,731
225,991
272,691
185,119
13,510 £defl3,261 xdef7,434
159,624 xdef64,338 zdef36,694
85,001
140,353
96,795
1,027,035 1,166,760
1,182,034
8,333
16,020
14,603
41,667
75,271
60,039
19,941 zdef5,468 xdef8,215
213,547 £def64,260 £defl3,817
30,609
34.340
6,478
350,102
239,672
53,466
170,700 rdef65,196
£59,219
1,855,961
£920,971
£629,996
These figures are after deducting other Income.
After allowing for other income received.
ELECTRIC
RAILWAY AND TRACTION
Latest Gross Earnings.
Name of
Road.
Week or
Current
Month.
Year.
3
May
American Rys Co
cAur Elgin As Ohio
Ry April
Bangor Ry As El Co_ May
Elec Co. April
Binghamton St Ry._ April
Blrm Ry Lt As Power May
Baton Rouge
BrocktonAs
Ply St Ry
Cape Breton Elec Co.
Carolina Pow As Lt Co
Central Penna Trac_
_
Chicago Railways Co.
Cleve Painesv As East
Dallas Electric Corp.
Detroit United Ry—
Duluth-Superior TrCo
East Penna Rys Co
East St Louis As Sub.
.
El Paso Electric.--Fairm & Clarks Tr Co
Ft Wayne As Wabash
_
Havana Electric Ry_ Wk July 3
Honolulu Rapid Tran
As Land Co.
April
3
335,599
310,682
120.384
106,412
42,875
8,303
39,936
7,344
24,972
184,825
9,096
16,511
15,803
66,350
997,347
28,039
100,964
26,924
218,575
8,744
April
20,730
April
16,899
May
69,934
May
1098,059
April
30,255
May
April
113,406
3d wk June 188,223
May
90,289
April
46,957
183,478
May
April
49,490
51,827
May
Valley Traction Co. May
April
Galv-Hous Eleo Co.
Grand Rapids Ry Co May
Previous
Year.
COMPANIES.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
3
1,504.982
444,276
209,598
34,204
106,658
1,070,700
29,498
81,244
87,135
319,795
4,150,232
120,317
1,375,977
402,356
190,754
29,527
100,881
919,567
30.491
67,196
73,189
290.850
3,780,965
105,658
452,176
161,363
400,471
4,051,872
81,533
44,289
171,072
46,493
42,122
3,397,074
416,301
369,455
168.980
792,328
188.980
93,207
42,280
111,702
93,721
85,243
41,808
598,352
396,224
430.871
1,06
60,977
532,673
963,319
388,045
1,000,623
36,129
33,406
145,263
128,269
122,344
104,550
193,551
918,799
212,866
216,455
170,171
July 9
THE CHRONICLE
1910.)
Jan. 1 to latest date.
Latest Gross Earnings.
Name oj
Road.
Week or
Month.
$
$
25,727
423,616
40,307
552,628
89,535
342,829
70,830
56,051
139,939
514,897
100,424
380,060
85,072
61,524
147,519
523,339
May
May
Wk July
April
May
May
April
May
Previous
Year.
24,248
472,255
47,213
601,477
Houghton Co Trac Co April
May
April
April
May
Illinois Traction Co..
Jacksonville Elec Co.
Kansas City By A Lt
Lake Shore Elec Ry.
Mllw El Ry & Lt Co.
Milw Lt Ht A Tr Co.
Montreal Street Ry..
Nashville Ry A Light
New Orleans Ry & Lt
North Ohio Trac A Lt
North Texas Elec Co.
Northwest Elev Co_.
Norf A Portsm Tr Co
Oklahoma City Ry_.
Paducah Tr & Lt Co.
Pensacola Electric Co
Port(Ore)Ry L&P Co
Current
Year.
2
-----
May
May
April
April
May
Puget Sound Elec Co. April
Current
Year.
Previous
Year.
$
$
98,771
96,613
2,365,774
190,341
2,101.518
2,389,494
2,185,070
156,083
423,194
378,851
1,861,298
361,022
2,054,119
581,833
2,664,160
865,662
438,890
913,431
765,607
227,916
1,669,715
76,437
1,842,036
303,012
1,843,160
544,354
2,562,954
775,738
207,323
111,280
184,353
160,492
53,861
20,389
22,263
466,486
158,919
97,837
173,635
151,598
37,533
18,352
18,559
399,590
143.581
84,219
2,166,734
592,286
916,476
646,118
3,428,116
3,010,086
85,401
237,698
50,651
460,490
15,055
48,362
237.986
341,999
80,781
190,277
47,488
422,128
13,770
46,432
212.835
298,142
140,842
494,015
1,145 567
194,586
458,605
188,749
378,448
864.924
759,016
149,144
533,906
Rio de Janeiro Tram
May
Light A Power
St Joseph (Mo) Ry Lt
Heat A Power Co.. June
Sao Paulo Tr, Lt & P
Savannah Electric Co
Seattle Electric Co_.
Sou Wisconsin Ry Co
Tam Da Electric Co_.
Toledo Rys A Light.
Toronto Railways—
Rap Tran.
Underground El Ry
Twin City
of London—
Three tube lines.
_
_
Metropolitan Dlst.
Unlted Tramways.
May
April
April
May
April
May
March
3d wk June
154,382
Wk June 25
Wk June 25
Wk June 25
£12,595
£11,347
32,661
190,143
69,049
£13,440
£10,941
£6,342
620,626
31,552
£7,301
648,015
United RRs of San Fr April
Whatcom Co Ry A Lt April
1.003,392
212,067
62,302
199,046
1,219,221
1,085.332
974,204
861,768
3,380,971
3,062,062
£330,735
£273.338
£152,910
2,494.867
£143,035
2,337,252
134.515
127,817
£326.005
£248.240
directors are satisfied that the acquisition will prove a remunerative In¬
vestment, a very considerable economy having already been effected In the
operation of both companies.
New Stock.—For the acquisition of the shares of the Mexican Light A
Power Co., as well as to assist that company by cash advances In providing
the funds necessary for the extension of Its hydro-electric system, the
Tramways Company sold 54,874 shares of Its capital stock during the year
at an average price of $135 99, being a premium of 335 99.
These sales
have brought the total capital stock Issued up to 114,874 shares.
Listing in Paris.—Arrangements for the listing of the shares of the com¬
pany on the parquet of the Paris Bourse were completed early this year,
and In this connection lt was agreed that the French Government should
nominate two French directors; Vlcomte Gaston de Breteull has accord'
ingly been elected to the board; the second director has not yet been nomi¬
nated.
RESULTS FOR YEARS ENDING DEC. 31
Earnings—
Car
Passengers.
Tickets
These figures are for consolidated company.
Electric
Railway Net Earnings.—The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
month in these columns, and the latest statement of
this kind will be found in the issue of June 25 1910.
The
next will appear in the issue of July 30 1910.
1907.
$4,026,132
1908.
$4,347,561
342,716
411,616
458,455
212,618
219,319
221,503
219,781
254,881
$4,156,092
54,676
$4,870,147
53,927
$5,280,216
$5,383,015
48,357
57,272
$4,210,768
$4,924,074
2,313,097
2,760,584
$5,328,573
2,795,092
$5,440,287
2,721,457
184,691
Freight
Total Income
Oper. exp., lncl. taxes..
1909.
$4,420,690
486,962
216,146
259,217
Miscellaneous
Total
Other income
(.MEXICAN CURRENCY).
1906.
$3,407,182
-
Net earnings
Deduct—Rentals
$1,897,671
$2,163,490 $2,533,481
$2,718,830
and fixed charges, payable to subsidiary
companies under leases, less amount received back as Interest
and dividends on securities held In companies ($499,091), and
adjustment, not explained ($22,177), less sundry receipts ($968)
520,300
Balance, transferred to head office, Toronto, profit and loss
account
$2,198,530
PROFIT AND LOSS ACCOUNT FOR YEAR ENDING DEC. 31 1909;
HEAD OFFICE, TORONTO (AMERICAN CURRENCY).
Balance as at Dec. 31 1908—
$371,350
Profit from operation after providing for lease rentals ($2,198,530
Mexican currency), converted Into Amer. currency at 49.74__ 1,093,549
Interest and dividends on loans to and securities of other com¬
panies owned
e
91
or
controlled
724,178
Total
Toronto and London office expenses
$2,189,077
(lncl. rent, salaries, print¬
ing and stationery, telegrams and cablegrams, rates, taxes, &c.)
$38,427
Interest on loans ($31,100) and difference In exchange ($10,492).
41,592
Int. on 5% gen. consol. 1st M. bonds ($450,000) and 6% deb.
bonds ($365,250)
815,250
Dividends (6%).
577,464
once a
Gross Earnings
Current
Previous
Year.
Year.
Roads.
$
.
Jan 1 to June 30
494,015
Union Ry Gas A El Co_b May
229,007
Jan 1 to May 31
1,211,935
Previous
Year.
$
$
n329,418
n299,204
3,780,965 nl,245,070 nl.134,289
51,050
111,702
44,812
532,673
255,321
212,526
423,616
173,532
169,809
930,041
2.101,518
877,104
151,598
66,982
58,939
759,016
318,796
308,795
80,781
38,763
40,264
458,605
220,113
212,817
214,509
97,404
103,145
1,141,908
518,335
563,604
997,347
■*
—Int., Rentals, dec.—
Current
Year.
Previous
Year.
St Jos (Mo) Ry L H & P.June
Jan 1 to June 30
$
44,912
224,568
23,184
134,543
Union Ry, Gas A El Co. May
Jan 1 to May 31
65,308
526,862
Ft Wayne A Wab Vail..May
Jan 1 to May 31
x
$
43,097
205,936
21,759
126,627
63,817
519,271
—Bal. of Net E’ngs.—
Current
Year.
Previous
$
$
Year.
6,138
30,753
15,579
85,570
32,096
191,473
1,715
6,590
Mexico
Tramways Company.
{Report for Fiscal Year ending Dec. 31 1909.)
The report signed by Secretary W. E. Davidson, Toronto,
Canada, says in substance:
General Results.—The operation of the undertaking during the past year
has been most satisfactory.
The net revenue In gold, after paying all ex¬
penses and fixed charges, amounted to $922,458, which, added to the
$371,350 to credit of profit and loss account Dec. 31 1908 brought that
account up to $1,293,808.
Four quarterly dividends at the rate of 6%
per annum were paid, absorbing $577,464, and leaving a credit balance of
$716,344, out of which $300,000 has been carried to a reserve account as
$416,344 has
been carried
forward.
Until the middle of 1909, business
throughout the Republic was much
depressed; this condition was reflected In the
earnings of the tramways,
and In consequence the Increase In the
gross Income for the year was not
Seat, but within the anticipated,
last six months
been
a decided
willthere has
the revenues
make
Itself
felt In Improvement
soon
The ratio of operating expenses
to gross Income has been reduced during
the last three years from 55.56% In 1907 to
50.02% In 1909.
During the
year $2,066,278 has been spent on capital account for extensions of fines,
Improvements and Increase of equipment.
The equipment has been In¬
creased by the manufacture of 43 new cars In the
shops of the company.
of 171.90 miles of single track, of
mules.
19.835
which 145.245 miles were operated
by electricity and 26.655 miles by
During the year the electric track
has been Increased by
miles and 19.105 miles of mule trackmileage
has been discontinued.
Pttrcnpa.—The company acquired during 1909 a controlling Interest In
the Mexican Light A Power Co., Ltd.,
by the purchase of 85,256 ordinary
shares of capital stock. In order to assure a reliable
supply of power. The
33,319,061 16,541.747
Tota
372.092
371,350
.33,319,061 16,541,747
Includes In 1909 advances to sbusidlary and other companies controlled
balance sheet on Dec. 31 1908, $1,609,825; further advances to the
Mexico Electric Tramways, Ltd., for capital expenditures, $2,066,278;
advances during the year to the Mexican Light A Power Co., Ltd., for
x
as
per
$10,695,940.
y Reserve account Includes $300,000 appropriated from profit and loss
for depreciation and $1,974,994 for net premiums on new shares Issued dur¬
ing year.
z After deducting $300,000 transferred to reserve account for deprecia¬
tion.—V. 89, p. 778.
American Hardware
Corporation, New Britain, Conn.
(Results for Fiscal Year ending Jan. 1 1910.)
BALANCE SHEET AMERICAN HARDWARE CORPORATION.
1909.
1910.
$
$
1910.
$
Liabilities—
1909.
$
subsidiary
Capital stock issued.7,416,900 6,180,800
companies at cost.7,669,054 6.650,579 Bills payable
*281,151
602.000
Accounts receivable.
40,729
253,887 Surplus
11,732
121,666
Cash
133,406
110,674 Balance
133,406
110.674
Reports.—An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the “Chronicle” in which
it is published.
The latest index will be found in the issue
of June 25.
The next will appear in that of July 30.
I.l90?.the system consisted
Total
Stock
Annual
trade which. It Is
ol the company.
$
6,000,000
9,000,000
648,300
150,000
Capital stock
11,487,400
A contracts ac¬
1st M. 5% bonds. 9,000,000
quired
20,880,240 13,283,772 6% deben. bonds. 6,087,500
Stores on hand,&c.
512,496 Accr’d int. on bds.
840,009
335,636
Mules and horses
17,593
22,496 Current loans and
Office fur. A flxt’s
acc’ts payable.. 3,717,186
5,068
4,559
Acc'ts receivable.
350,916
603,579 Reserve account..y2,274,994
Adv. to sub. A oth.
Profit and loss
z416,344
cos. controlled.xlO,695,940
1,609,825
Cash
529,802
504,511
Assets—
After allowing for other income received.
special appropriation for depreciation, and
1908.
Properties, secur’s
18,505
86,190
39,328
244,333
ANNUAL REPORTS.
a
1909.
$
Liabilities—
now
Charges and Surplus.
Roads.
1908.
$
1909.
$
Assets—
$716,344
(AMERICAN CURRENCY).
capital expenditures subsequently secured by 2nd mtge. bonds of that co„
held as collateral, $7,024,188; total, $9,090,466; deduct, Ferrocarrlles del Distrito Federal de Mexico, S. A., $4,351; balance, as above,
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes,
n These figures represent 30% of gross
earnings.
a
Interest
BALANCE SHEET DEC. 31
Net Earnings
Current
Year.
$
Chicago Railways Co
Apr 1,098,059
Jan 1 to Apr 30
4,150,232
Ft Wayne A Wab Vail, b May
122,344
Jan 1 to May 31
598,352
Illinois Traction Co.a. -May
472,255
Jan 1 to May 31
2,365.774
Norfolk A Portsm TrCo bMay
160,492
Jan 1 to May 31
765,607
St Jos (Mo)RyLH&P_b_June
85,401
Balance carried to balance sheet
in
Total
*
7,843,189 7.015,140
Due constituent
Total
7.843.189 7,015,140
companies.
STATEMENT OF SUBSIDIARY COMPANIES JAN. 1.
1910.
Assets—
$
Real est.,mach.,&c 6,030,373
Mater.&supp.(Inv.) 3,341,825
Bills A accts. rec.. 2,335,153
Cash
303.463
Total
1909.
1910.
1909.
Liabilities—
$
$
5,873,780 Cap. stk., sub. cos. 2,600,000
3.472,985 Bills A accts. pay.
159,647
1,843.306 Surplus
187,085
12,010,814 11,377,156
$
2.600.000
889,488
7,887,668
9,251,167
Total....
.12,010,814 11,377,156
EARNINGS OF SUBSIDIARY COMPANIES FOR CALENDAR YEARS.
1909.
Net earnings.....
Dividends paid
Balance, surplus
—V. 90, p. 1046.
1908.
$1,089,i66
$593,866
596.250
550.296
$492,916
$43,570
.
American Thread
Company.
{Statement for Fiscal Year ending March 31 1910.)
No reports were published for the years ending March 31
1908 and 1907.
Comparisons are therefore given below with
the results for years ending March 31 1909, 1906 and 1905.
The report for the year ending March 31 1909 stated that the
gross
with
profits for that year, as below, $1,128,736, compared
$1,383,772 in 1907-08 and $1,730,815 in 1906-07.
Gross profits
Deduct—
Depreciation
.
1909-10.
1908-09.
1905-06.
1904-05.
$2,441,844
$1,128,736
$1,479,468
$1,167,291
$505,874
$400,000
240,000
$351,160
236,000
$345,808
244,524
Bond Interest-.240,000
Res. for coating, on stks.
300,000
Pref. dividend (5%)
244,524
Common dividend
(15%)810,000
Balance, surplus
$341,446
236.450
244,524
(4)216,000
(14)588,000
244,524
(8)336,000
$28,212
$59,784
$4,509
'
92
THE CHRONICLE
BALANCE SHEETS MARCH 31.
1910.
1909.
$
1910.
$
1909.
Assets—
$
Liabilities—
Plant, &c
14,794,712 14,679,536 Common stock
5,400,000
Stock in trade, net
5% pref., fully pd. 4,890,475
cost
6,828,183
5,427,559 4% 1st M. bonds.. 6,000,000
Accounts receivaAccounts payable. 1,570,135
able.net.
1,280,874 1,078,711 Bills payable
654,520
Cash
430,109
318,348 Bond lnt. accr.,&c.
64,995
Sundry lnvestm’ts.
298,652
277,958 Depreciation fund. 3,221,349
Advance paym’ts.
38,531
34,955 Fire lnsur. reserve.
10,777
Div. on com. stock,
payable In July.
810,000
Res. for contlng. In
stocks—
300,000
Balance forward.
748,810
$
5,400,000
4,890,475
6,000,000
1,653,427
279,287
65,584
2,896,919
8,014
—
216,000
407,364
_
Total
.23,671,061.21,817,069
Total
23,671,061 21,817,069
_■
-t-V. 89, p. 530.
Central Coal & Coke Co.y Kansas City.
(Report for Year ending June 1 1910.)
The pamphlet report contains no text.
The results for
two years compare as follows:
RESULTS
OF
OPERATIONS
Department—
Wholesale coal
Retail coal
Wichita coal
St, Joseph coal.
Salt Lake City coal
Washer
_
_
_
...
YEAR
ENDING
._
..
_
..
i
..
.
Wholesale lumber
Carson mill
Keith mill
Miscellaneous
647,752
744,599 *'
515,251
._
_.
...
._
-.
Total
1.
Net.
$964,103
$459,212
■
3,215
17,203
12,858
127,048
183,751
144,393
123,016
111,619
64,081
4,518
213
17,731
Loss 1,205
8,571
480
49,598
52,507
15,000
177,622 Loss 38,098
147,426
637,791
97,982
506,593
181,964
357,680
■103,369
'
105,598
$1,103,781
$1,076,459
55
..
JUNE
190
Gross.
$360,645
17,344
2,633
..
.
__
Mining stores..
..$860,434
81,264
24,011
11,535
55,061
72,888
159,402
..
.
_
Mining.
FOR
1909--10
Gross.
Net.
INCOME ACCO UNT.
Net earnings as above
Deductions—
1909-10.
1908-09.
1907-08.
1906-07.
$1,103,781
$1,076,459
$1,352,702
$1,447,650
$79,141
241,805
34,586
4,008
81,907
130,610
29,500
$81,773
264,873
$88,933
200,603
28,658
4,008
77,734
118,173
8,500
$93,130
267,140
Royalty credited coal Ids.
Royalty credit, timber Ids
Depreciation mill prop
Depreciation washer prop
General expense
Interest on bonds
Interest and exchange
Total
37,839
4,008
85,447
110,359
18,500
3,333
70,875
133,175
5,402
$601,557
$502,224
*93,750
*307,500
$602,799
$473,660
*93,750
*307,500
$526,609
$826,093
*93,750
*307,500
$573,055
$874,595
*93,750
*307,500
Balance over dividends *$100,974
*$72,410
*$424,843
*$473,345
Surplus earnings
Dlvs. on pref. stock (5%)
Dlvs.
on com.
stock (6%)
* These items have been
supplied; they do not appear in the reports.
What other deductions or credits there were, we do not kuow.—Ed.
"
ASSETS AND LIABILITIES JUNE 1.
1910
Assets—
$
Goal lands
4,293,659
Timber lands
3,256,063
Coal shafts & bldgs 1,678,875
Sawmills & lmpr*ts
296,042
Yards & equlpm’t.
50,578
1909.
$
4,272,440
2,953,816
1,794,680
215,849
50,578
64,096
...
Personal property.
Mo. & La. RR. Co.
stock
Bonds,dec.,In other
companies
Accts.for collection
Inventories
Cash
Sinking fund
Sundry balances..
Total
—V. 89, p.
68,661
1910.
Liabilities—
$
Common stock
5,125,000
Preferred stock
1,875,000
Undivided profits. 1,508,967
Bonds
2,572,000
Audited bills
6,852
Bond lnt. not due.
46,313
130,101
847,812
626,291
386,163
91,667
7.367
5,125,000
1,875,000
1,427,707
2,061,000
1,547
39,400
76,791
66,393
...
Sundry accounts..
150,000 Pay-roll balances.
Freight charges un¬
129,103
adjusted.
150,000
1909.
%
1,008,665 Sink, fund for Ins.
669,457 Sundry balances..
136,599 Bills payable
91,667
141,653
26,068
89,768
56,819
17,525
700,000
450,000
11,883,279 11.536,950
Total
11.883,279 11,536,950
William
Gramp & Sons Ship & Engine Building Go., Phila.
(Report for Fiscal Year ending April 30 1910.)
Pres. Henry S. Grove, Philadelphia, June 30 1910, wrote:
Notwithstanding the universal prosperity and increased profits secured
from all other forms of commercial activity, the ship-building industry
on the Atlantic Coast stands alone without adequate returns.
Following
the lead of the more Important English ship-builders, we have therefore
continued to devote time and money in developing
our engineering and
manufacturing departments other than ship-building, and with this we
satisfactory
making
progress.
are
EARNINGS FOR FISCAL
YEAR ENDING APRIL 30.
1909-10.
1908-09.
1907-08.
1906-07.
Net earnings of all departments of the
company and its subsidiaries, viz.;
I. P. Morris Co. and Kensington
Shipyard Co., including miscellan¬
eous Income, and after deduction
of insurance and taxes, but before
deduction of bond interest or mis¬
cellaneous interest
$716,142
Interest on 20-year 5% serial notes. 198,083
lnt. on first mtge. 5% gold bonds.._
61,667
Ground rents and interest on real
estate mortgages
29,964
Net surplus
$747,950 $555,735 $328,328
208,833
217,333
225,333
62,917
64,167
65,417
30,047
31,508
34,170
$426,428 $446,153 $242,727
$3,408
The company has made the following payments and expenditures:
In reduction of capital debt, $245,000:
220 20-year 5% serial notes redeemed, as per terms of issue
$220,000
25 1st M. 5% gold bonds redeemed, as per terms deed of trust..
25,000
Expended in the purchase of real estate,
and for improvements, &c
new
tools, machinery,
87,954
BALANCE SHEET APRIL 30.
1910.
$
Assets—
Real estate,
chinery, &c
j_
.....
Liabilities—
Capital stock
1910.
$
6,098,000
12,978,766 12,890,812 Bonds and mort¬
293,922
gages
5,674,912
343,582 Merchandise accts.
326,965
1,592,956 Wages due May..
45,797
Accrued interest..
94,923
3,852,257
730,085 Profit and loss
...
,
16,092,8^£ 15,851,357
41.
-
%
ma¬
Bills de accts. rec._
871,614
Materials & supp..
421,558
Cash
1,083,566
Defd assets (accts.
*
in proc. of ad jus)
737,350
.
1909.
1909.
$
6,098,000
5,919,912
268,265
34,393
98,832
3,431,955
,w.16,092.854 15.851,357
.iii
’River Shipbuilding |do' u ' ■ vO;.
(Report for Fiscal Year ending Dec. 31 1909.)
Pres. FrancisT. Bowles, Quincy, Mass., Feb. 8 1910, wrote:
machinery were made during the year to tha
All items of repair and maintenance to plant have
Additions to plant and
amount of
$53,000,
LXXXXI.
been charged to current expense and $120,000 has been
charged off for
depreciation and the surplus has increased by $70,693. There are no notes
payable.
The cash
receipts for the year amounted to $4,232,225. This Is a de¬
the previous year of about 30%.
The following vessels were
under construction on Dec. 31 1909: battleship “North
Dakota,” 3 sub¬
marine torpedo boats, 3 torpedo boat destroyers, 1 steel
freight steamer,
1 steel steam yacht, 3 steel molasses
barges and 1 steel steam lighter
During the year there have been completed and delivered: 6 submarine
boats, 8 army tugs, 3 steel car-floats, 1 harbor transfer tug and 1 steel
ammunition lighter.
The average number of employees for the year was
crease from
2,810.
The force at present Is 3,070.
The greatest difficulty during the past year has
new
been the lack of sufficient
The competition
ship-building to work the plant at its full capacity.
of ship-yards to secure work to maintain their plants
has resulted in ship
construction being taken at low prices.
The Curtis marine turbine, for
which the license to manufacture Is owned by our
company, has continued
to show excellent results In the
performance of the battleship “North
Dakota.”
The company has recently signed contracts with the
Argentine
Government for the construction of one 28,000-ton battleship
with Curtis
marine turbines, and the building of Curtis marine turbines for a second
battleship.
BALANCE SHEET DECEMBER 31.
1909.
issete-j
1908.
1909.
1908.
$
Liabilities—
$
$
$
Property
*3,498,600 3,555,646 Capital stook, pref..2,400,000 2,400,000
Reserve accts. recelv.
80,764
168,507 Capital stock, com..2,400,000 2,400,000
Unearned insurance.
14,338
12,331 Accounts payable, re¬
Unearned taxes
5,809
serve
....!
12,000
24,960
Accrued Interest
150
199 Unearned rentals
3,750
Work in process
272,423
206,938 Accrued taxes
16,043
Material on hand... 311,868
267,012 Uncompleted con¬
Accts., dec., recelv.. 224,105
338,866
tract!, reserve
235,455
225.193
Cash on hand
974,071
864,164 Accounts payable... 145,781
225,519
Surplus.
188,892
118,199
,
Total
5,382,128 5,413,664
Total
5,382,128 5,413,664
*
Property Includes in 1909: real estate, buildings, <kc.. $2,301,892; machinery,
equipment, dec., $1,217,246; investments. $99,462; total, $3,618,600; less depre¬
ciation, $120,000; balance, $3,498,600.—V. 89, p. 37.
Lawyers’ Mortgage Co., New York.
(Report for Six Months ending June 30 1910.)
The report of President Richard M. Hurd for the late halfyear is published in the advertising pages of to-day’s “Chron¬
icle.”
The report shows:
OPERATIONS FOR HALF-YEAR.
1910.
1909.
$
$
16,897,501
86,905,963
1908.
$
1907.
$
12,942,259
69,031,168
60,342,971
11,109
198,646
100,393
3,741
159,496
108,527
8,359
142,097
93,163
6,930
379,518
302,780
276,383
242.190
9,500
50,898
7,851
9,500
41,991
3,875
32,668
4,271
1,956
8,378
Guar, mortgages sold
21,740,285
do
do out’g June 30.103,021,787
Income
from—
Premiums for guaranties
243,308
Interest on mortgages1-25,101
Rent, commissions, dfcc.
Gross earnings
Expenses—
Rent
Salaries
Advertising
1
Stationery
)
Taxes & general expen.
_
Gross expenses
Net earnings
Dividends (6 months).,.
Balance, surplus
12,105,512
9,709
14,128
4,687
34,820
5,520
1,297
8,537
77,958
301,560
(6)240,000
72,881
229,899
(6)150,000
54,861
221,522
(5)125,000
(5)125,000
60,560
79,899
96.522
66,042
(5,135
12,127
51,148
191,042
BALANCE SHEETS JUNE 30.
1910.
99,726
31,700
v
101.
[VOL.
1909.
1910.
1909.
Liabilities—
$
$
$
N.Y.Clty mtges.5,217,968 5,110,630 Capital
4,000,000 2,500,000
Acer. lnt. recelv. 246,595
Surplus
2,000,000 2,000,000
Co.’s
Brooklyn
Undlv. profits.. 309,329
209,467
building, cost. 175,000
175,000 Mortgages sold,
Real estate
110,608
not delivered.
5,681
462,005 1,012,483
Cash
1,076,446 1,050,219 Stock subscrip’s.
619,580
Res. for prem.dcc
55,283
A
Total
Jt
6,826,617 6,341,530
Total..
■
6,826,617 6,341,530
There are 7,538 guaranteed loans outstanding (see “operations”
above),
the average loan In Manhattan amounting to $38,000, In
Brooklyn to
$5,800 and In the Bronx to $15,000.—V 90, p. 165.
Mexican
Light & Power Go., Limited, Toronto, Canada.
(Report for Fiscal Year ending Dec. 31 1909.)
Secretary W. E. Davidson, Toronto, writes in brief:
Construction.—The development of the company’s business and the work
of construction have made most satisfactory progress.
The demand for
power in the City of Mexico and the Federal District Increased so rapidly
that It became necessary to press forward the completion of the entire hy¬
draulic system at Necaxa.
The works at Necaxa are rapidly approaching
completion.
By the construction of a series of tunnels and dams,- five
have
large reservoirs
been formed, which will store a very large volume of
water, thereby assuring a continuous supply of water during the entire year.
With the exception of one of the long tunnels and the Tenango dam, which
will be finished during 1911, practically all of the work under way in the
Necaxa district will be completed before the end of the current year.
On
the completion of this work the hydro-electric power station at
Necaxa
will have a capacity of about 100,000 h.p., of which 50,000 h.p. Is already
used under peak loads.
The carrying capacity of the high-voltage trans¬
mission lines also has been Increased to 100,000 h.p.
The accident In May 1909 to one of the dams at Necaxa did not very
greatly add to the cost of construction, and the completion of the dam was
(V. 89, p.474.)
delayed only six months.
The total storage capacity of the live reservoirs Is as follows:
Present ca¬
pacity, 129,500,000 cubic metres; capacity when present works are com¬
pleted, 173,000,000 cubic metres.
It Is anticipated that from now on the
company will not require to have recourse to steam power.
General Results.—The extraordinary expenses due to the operation of
the steam plant amounted to $987,484 (gold), and the board of directors,
following a course similar to that adopted in the previous year, has decided
to charge approximately one-half of the amount against the operating earn¬
ings for the year, and to write off the other half against the reserve fund
formed out of the surplus profits of the past years.
The gross earnings and
sundry receipts for the year amounted to $3,014,325, which, with $60,823,
the balance of surplus profits carried forward from the previous years, made
a total of $3,075,149.
From this sum has been deducted $648,337, the
general operating expenses, making the net revenue for the year $2,426,811,
out of which sum the management and fixed charges and the 7% pref. divi¬
dend have been paid, leaving a surplus of $1,186,528.
From this surplus
one-half of the extraordinary expenditure inxonnectlon with the operation
of the steam plant has been deducted and a 4% dividend on the common
stock has been paid leaving $14iK386"to be carried forward.On Jan. 1 1909 the nleetrlc installations connected te^bhe company's dis-
Capital Outlay.—During the year the sum of $3,023*041. has been ex¬
pended on capital account for the construction works of ifhe hydro-electric
system and for improvements and extensions of the general equipment of
the company, and this sum has been provided out of the advances made by
the Mexico Tramways Co.
■ ’
July 9 1910. i
THE CHRONICLE
Change in Control.—In January 1909 a controlling interest in the capital
was acquired by the Mexico Tramways Co. ana the old board of direc¬
tors retired and a new board was elected. (See Mex. Tramways Co. above.)
Acquisition—New Bonds.—The directors have succeeded in acquiring for
the company the business and undertaking of the Compania Electrica
e Irrigadora en el Estado de Hidalgo, S. A. (hereinafter referred to as the
“Irrigadora Company,*’ a company carrying on a light and power business
in the city of Pachuca and the surrounding terr itory, situated about 65
miles from Necaxa and embracing one of the most prosperous mining areas
in the Republic.
The estimated income of the Irrigadora Company for
the year 1910, based on the actual revenues for the first three months of
the year, without taking int o account any new business which may be con¬
nected this year, is:
Gross, $335,000 (gold); net, $260,000 (gold).
Con¬
tracts negotiated since the acquisition of the undertaking will yield an
additional gross revenue of about $250,000 (gold), and it is expected that
within three years the gross revenue from the Pachuca District will increase
to at least $600,000 (gold).
This acquisition assures to this company a
large and increasing source of revenue and further customers for the power
being developed at Necaxa.
Construction has been commenced on a
branch transmission line from Necaxa to Pachuca and on a sub-station,
and it is expected that power will be delivered from Necaxa by Sept. 1 of
the present year, when the Pachuca plant will be shut down, thereby re¬
ducing the operating cost for this business. The purchase price for this
company was $3,750,000,(gold), of which one-half was paid in cash and the
balance In 6% first mtge. bonds, secured on the assets of the new Irrigadora
Co., which has been formed to take over the assets of the old company and
op erate the business as a subsidiary company to this company, which owns
all its stock.
(V. 90, p. 506.)
stock
RESULTS
Gross earnings
Other Income
Total
CALENDAR
1909.
1908.
YEARS
FOR
$3,004,153 $2,938,474
10,172
income—-$3,014,325 $2,938,474
Operating expens.* 1,126,235
1,080,570
Net earnings...$1,888,090 $1,857,904
•
Operating
(U.
S.
CURRENCY).
Deduct—
1909.
1908.
Int. on bdsM.L.&P $594,375
$600,000
do
M.E.L.Co.
293,287
300,000
Sink. fd. M.L.&P,
118,875
110,000
do
M.E.L.Co.
58,657
60,000
Com. dividends(4%)543,400(3^)475,475
Pref. dividends (7%)168,000
119,627
Total deduc’ns.$1,776,594 $1,665,102
Balance, surplus..
$111,496
$192,801
in 1909 ($1,126,235) include cost of operation, gen¬
eral expenses and maintenance, $625,403; half of the extraordinary ex¬
penditures in connection with the operation of the steam plants chargeable
against the earnings of 1909, $493,742 (a similar deduction having been
made in 1908—see remarks above), and Toronto, London and Montreal
office expenses, $7,090.
expenses
GENERAL BALANCE SHEET DEC. 31
1909.
$
(GOLD
C URRENC
1908.
$
Y).
1909.
$
1908.
Liabilities—
$
Ord. shares issued. 13.585,000 13,585,000
Prop, concessions,
&C
Pref
shares
31,633,809 28,745,768
issued 2,400,000
2,400,000
Apparatus rented.
12,277
29,632 Bonds
11,865,000 12,000,000
Shares in subsld.
Curr.
loans
and
cos. (cost In’09) 3,167,284
overdrafts
3,042,959
7,024,188 2,929.150
Materials
1,049,593
730,021 Sundry accts. pay.
254,399
245,629
Accts. receivable.
262,760
279,791 Employees’ &conGovt, deposits
Burners’ deposits
30,594
23,973
108,478
56,625
Unexp. insurance.
4,018
11,317 Accrued bond int.:
Cash
Mex. El. Lt. Co.
293,902
37,330
144,204
150,000
Mex.Lt.&P.Co..
246,106
250,000
Assets—
„
Sink.fd.M.E.L.Co.
do
M.L.&P.Co.
Pref. div. accr’d..
Com. div. Jan. '10
Reserve account-.
Miscellaneous
Profit & loss acct.
Total
....
..36,454,237 32,900,792
Total
from Sault Ste. Marie to the Can. Pac.
Ry., Including interest during con¬
£657,433; purchase of additional rolling stock,
£135,000; total estimated expenditure, £792,433.
Proceeds of Issue.—Part of the proceeds of the bonds will be used to pay
for $3,000,000 bonds of the Lake Superior Corporation, which have been
canceled, in order to free the Algoma Central Ry. Co. from all encum¬
brances other than the first mtge. bonds now being issued, and the balance
of the proceeds, together with other available funds of the railway, and the
cash subsidies to be received from the Dominion Gov. will more than cover
the completion and equipment of the road to the Can. Pac. main line.
Earnings.—The net earnings from the 80 miles so far completed and from
the steamship line for the year to June 30 1909 were £26,700.
The net
earnings of the 10 months of the present year show an increase of fully 50%
struction, is estimated at
the same period last year.
In addition to the valuable timber lands to be granted to the
company,
the building of the line will open up other extensive timber areas and make
connections with developed iron mines, which will create at once a very con¬
siderable and paying freight traffic.
As soon as the railroad connection is
made, the Algoma Steel Co., Ltd., is prepared to take a minimum of 300,000
tons of iron ore per annum from the Magpie mines, and the Railway Com¬
pany will also get the whole freight on the shipments of iron ore from the
Helen mine, amounting to at least 200,000 tons per annum, so that the
railway Is assured 500,000 tons per annum from these two mines alone.
The extension of the line to the National Transcontinental will enable
us to tap the North Ontario clay belt, estimated to consist of 16,000,000
acres of excellent agricultural land.
over
Conservative Estimate
of the Earnings of the Line for the First Year after
Completion to the Canadian Pacific Railway.
Gross earns, of RR
£293,6001 Net earns, steamship dept. £15,000
Net earnings
88,080|Total net earnings
103,080
The amount required to pay the interest on the $6,750,000 first mtge.
gold bonds is £67,500.
No account has been taken above of any profit from
the sale of timber, ore or lands.
Guaranty.—An unconditional guaranty by the Lake Superior Corpora¬
tion, both as to principal and interest, will be endorsed on each bond.
The net earnings of the corporation through its subsidiary companies dur¬
ing the past three years, available to provide for depreciation and improve¬
ments, to meet the interest (£70,000) on its first mtge. 5s, which are
now reduced to $7,000,000, and to care for any liability it may incur under
the guaranty of the bonds of the Algoma & Hudson Bay Ry. Co., were
(years ending June 30) 1906-07, £160,964; 1907-08, £210,879; 1908-09,
£215,511.
The approximate net earnings of the subsidiary companies for
the first ten months of the present year have amounted to £198,963,
being
considerably in excess of tne corresponding period in the previous year.
Improvements now approaching completion in connection with the steel
plant and other subsidiary properties will considerably Increase its earnings.
Compare V. 90, p. 1101.—V. 90, p. 1553.
...
.
Atchison Topeka & Santa
—The directors yesterday,
Fe Ry.—No Change in Dividend.
following the example of the
Chicago Milwaukee & St. Paul earlier in the week, declared
its dividend at the old rate.
President Ripley is quoted:
My impression is that the Atchison will show, in its report for the past
year, something more than 8% on the present volume of stock; but we will
not know definitely until we get the results for June.
Our construction
work is going on moderately.
What we had planned and started we will
finish, Including the lines in Texas.
But we did not have an extensive
program under way.—V. 90, p. 1612.
Brooklyn City RR.—Dividend Reduced Pending Appeal.—
28,314
108,272
27,155
135,850
X377.884
30,000
110,000
28,000
203,775
The directors have declared a quarterly dividend of 2% on
the $12,000,000 stock, payable July 15 to holders of record
1/149,386
1,789
910,823
July 5 out of the rental paid by the Brooklyn Heights RR.,
amounting to $1,200,000 (10%) yearly.
36,454,237 32,900,792
x Reserve account consists of $850,000 transferred
from profit and loss
account, less $472,116 for portion of extraordinary expenses for steam
operation during construction,
y After deducting $850,000 carried to gen¬
eral reserve acct. and $22,934 for bad and doubtful debts.—V.90,p.1494,506
President Edward Merritt In a circular explains that, pending the appeal
from the decision handed down in Feb. last (V. 90, p. 558, 625),
of 1%
w 11
be retained quarterly and be set aside In a special fund and returned
to the stockholders in case it is not needed in the settlement of the claim
of the Brooklyn Heights Co.—V. 90, p. 1044.
Canadian Northern Ry.—Securities.—We
following from
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
Algoma Central & Hudson Bay Ry.—Guaranteed Bonds Of¬
fered.—The Bank of Montreal, London, on behalf of the con¬
tractors for the issue, received applications from July 1 to 5
at £90 per £100 bond for £770,000 5% first mtge.
50-year
gold bonds, due 1960 (but subject to call any time, all or
part, at 105 and int.), being the approximate equivalent
at par of exchange of $3,750,000; the balance,
$3,000,000,
having been taken for issue in France. Total auth. issue,
$6,750,000. Principal and interest unconditionally guaran¬
teed by the Lake Superior Corporation.
Par £500 and £100
(c*), payable p. & i. at Bank of Montreal, London, or at
Bank of Montreal, Montreal or N. Y., at $4 86 2-3 to the £.
Trustees, U. S. Mortgage & Trust Co., N. Y. Int. J. & D.
An advertisement says in substance:
The bonds will be a first mtge. Upon the lines of railway, terminals and
docks and a floating charge upon the rest of the assets, present
and future,
including the lands granted by the Province of Ontario. This issue repre¬
sents a bonded debt of $30,000
per mile in respect of 225 miles of railway
now under construction to connect with the Canadian Pacific
Ry.
Abstract of Letter from Pres. T. J. Drummond, June 25 1910.
Charter.—The company is authorized, under charter from the Dominion
of Canada, to construct a line from Sault Ste. Marie, Ont., to the Canadian
Pacific Ry., including a branch from Mlchipicoten Harbor to the main line,
and from a point on the Canadian Pacific
Ry. north to James Bay, inter¬
secting the National Transcontinental Ry., under construction, and the
projected line of the Canadian Northern Ry.
Cash Subsidies.—The Dominion of Canada has
granted to the company a
cash subsidy of $6,400 per mile for the 225 miles from Sault Ste. Marie to
the Can. Pac. Ry. main line, including the
Mlchipicoten branch. Part of
this subsidy has already been earned and paid to the company; the balance
unpaid applicable to the line now to be constructed is $516,000.
Should the
company decide to continue the railroad north from the Can. Pac. Ry. for
115 miles to the National Transcontinental Ry., it will receive further cash
subsidies from the Dominion Government and from the Province of Ontario
which, it Is anticipated, will amount to $966,000.
Land Grants.—The Province of Ontario has granted to the company a
very valuable land grant of about 1,655,000 acres in respect of these 225
miles, and on completion of the line to a connection with the National
Transcontinental Ry. it will be entitled to a further land grant of 575,000
acres.
These lands will be granted in freehold, and carry all minerals and
all timber free of all charges
except the pine, upon which stumpage charges
are to be paid.
Of this land grant 1,439,300 acres have been selected and
set aside for the company.
on^L0perties'—T*16 railroad is already
in operation for
80
miles;
some
80-lb. and 85-lb. rails; well ballasted.
The company owns extensive ter¬
minals and deep-water docks at Sault Ste.
Marie, Ont., equipped for the
rapid loading and unloading of
ore,
coal, steel rails, lumber, &c., and also
the harbor at Michipicoten,
Including ore docks and facilities capable
of handling 2,000 tons of ore
per hour, as well as commercial docks equipped
for the handling of all other material.
The company owns and operates on
the Great Lakes a freight
steamship line with a tonnage (including a steamer
under construction) of 15,600 tons;
carrying ore, coal, steel rails, grain, &c.
Cost of Construction.—The line is now
owns
>•
Hy. near Hobon, about 145 miles of
nave
already been graded.
being extended to the Can.
new
The cost of
93
Pac.
construction, of which 94 miles
completing the line, 225 miles,
an
now
authoritative though not official
have the
source:
Regarding the report of a sale by Mr. Mackenzie of certain 3 %% Canadian
Northern Ry. debenture stock, guaranteed by the Government of the
Dominion of Canada to Mr. Dunsmuir, this is a private transaction between
Mr. Mackenzie and Mr. Dunsmuir, and lt has not as yet been
really con¬
summated.
An Issue on the Canadian Northern Ry.’s lines to be constructed In the
Province of British Columbia will be made similar to the Issues in the other
Provinces along the lines mentioned (in V. 91, p. 37).
The details as to
this issue have not been made public, for only the agreement between the
railroad and the Provincial Government has been made. Work preliminary
to construction only has so far taken place In British Columbia.
Compare
V. 91, p. 37.
Central RR. of New Jersey.—Decision on Employers’ Lia¬
bility Law.—Judge Hand in the United States Circuit Court
in this city, in a suit brought by a trackwalker who was in¬
jured in the Jersey City yards, under the Federal,Employers’
Liability Act of April 22 1908, on July 1 denied the com¬
pany’s motion for a new trial.
The company claimed the Federal courts were without jurisdiction be¬
the complainant was not himself engaged in inter-State commerce,
nor was the train so engaged.
The Court held that an employee of a road
cause
engaged In inter-State
commerce
such commerce and can therefore
p. 1675, 1612.
is, while working, himself engaged in
under the Federal statute.—V. 90,
sue
Chesapeake & Ohio RR. of Indiana—Reorganized Com¬
pany.—This company was incorporated at Indianapolis on
July 2 with $3,000,000 of authorized capital stock to take
over
the property of the Chicago Cincinnati & Louisville
RR., which see below. The directors are: Carl Remington
and
Gilbert Gannon of Suffolk County, Mass.; James
Steuart MacKie, John Galvin, Frank M. Whittaker, Henry
C. Starr, A. L. Ellett, Thornton Lewis and J. Paul
Stevens,
all or nearly all representatives of the Chesapeake & Ohio
Ry. Co.
Chicago Cincinnati & Louisville RR.—Successor.—See
Chesapeake & Ohio RR. of Indiana above.
Circular.—The committee, consisting of Seth M. Carter,
Chairman, Weston Lewis, Charles H. Gilman and George S.
Stockwell, representing 1st M. bonds of Cincinnati Rich¬
mond & Muncie RR., Chicago & Cincinnati RR. and Cin¬
cinnati & Indiana Western RR. Co., deposited with the Old
Colony Tr Co., say in brief in a circular dated June 27 1910:
The system was sold under foreclosure June 23 1910 for the
upset price
of $5,200,000, covering receiver’s certificates, first
mortgage debt, court
costs and allowances and a small margin.
Messrs. Remington and Gannon,
who bid in the property, are supposed to represent the syndicate which last
year acquired the general mortgage committee bonds at 50.
These pur¬
chasers assume and agree to pay the receiver’s floating debt of about $300,000, the intervening claims now on file if allowed by the Court, and other
contingent claims against the property.
Arrangements have been made
full
Co.
the
committee, amounting to $96,594 and Including Its compensation, and that
of the Old Colony Trust Co. and Its counsel fees and other disbursements.
for payment of your bonds, par and Interest to July 1 1910, to the
extent of the legal debt existing on that day, at the Old Colony Trust
in Boston, less $34 per bond deducted to cover the total expense of
u
94
THE CHRONICLE
Amount Due
on Each Bond—Net Amount to be Distributed
after Deducting.
[Computed In accordance with Court decrees. Including full principal and
Interest thereon at 5% to July 1 1910, and all overdue
coupons maturing
Feb. 1 1909 and prior thereto with interest thereon at 6% to July 1 1910.]
Cincinnati Richmond A Muncle bonds
Chicago A Cincinnati bonds
Cincinnati & Indiana Western bonds
Gincinn&ti Traction
Total Due.
Net.
$1,143 50
1,154 46
1,134 67
_
Co.—Equipment Notes.—A
$1,109 50
1,120 46
1,100 67
press
dis¬
patch reports the issue of $360,000 5% equipment notes, re¬
deemable $36,000 yearly.—V. 84, p. 1052.
Cumberland Railway ft Coal Co.—Lease.—See Dominion
Steel Corporation under “Industrials” below.—V. 87, p. 37.
Galveston Beaumont ft Northeastern Ry.—See Miller &
Vidor Lumber Co. under “Industrials” below.
Illinois Central RR.—Settlement of Claims.—The
/■
claim
against the Blue Island Rolling Mills & Car Co. (formerly
the Blue Island Car & Equip. Co.), one of the 5 companies
charged with irregularities in connection with the repairing
of freight cars (V. 90, p. 1554), has been settled out of court
by the payment of a large sum of money, variously reported
to be between $300,000 and $500,000.
The other car companies which are Involved, and most, if not all, of
which are said to be about to settle, are the Memphis Car Co., the West
Pullman Car Co. (formerly the Ostermann Mfg. Co.), the New Orleans Car
Co. and the American Car & Equipment Co., the latter being in no way con¬
nected with the American Car A Foundry Co.—V. 90, p. 1554.
Interborough Rapid Transit Co.—New Plan Proposed for
Subway Extension.—President Shonts this week made an
offer to the city to operate a subway to be constructed by the
[VOL.
LXXXXI.
Kittanning, in
the part of Wlckboro adjoining the former and In the
The Electric Light Co. owns the Manor Light,
Heat & Power Co., which has a franchise in
Manorvllle, Ac. and is prepanng for construction; also the Ford City Power Co., which is arranging
to build into Ford
City, where at present there is a small light company
borough of Apple wold.
op™?te.r.
the municipality giving only night service.
The district served has great natural
resources, chiefly coal,
uud agricultural;
the manufacturing industries are very
ihe tributary
totals about
natural gas
important,
population
25,000 and conditions favor material
The street railway franchises have from 86 to 92 years to
run;
electric light franchises, no limit; there are no burdensome
restrictions.
Outstanding capital stock $500,000. Authorized bond issue $350,000,
of which $28,000 is reserved to retire
Immediately $27,500 underlying
$25,000 for further extensions subject to approval of yourselves ana
PiPtt’
the Union Trust Co. of
Pittsburgh, trustee, and $70,000 for further im¬
provements now under way, the remaining $227,000 to be issued immemjitely to pay floating debt. The mortgage provides a sinking fund of
10% of the gross receipts of the street railway and also of the
companies
controlled, one-half thereof for the payment of the bonds, and the remainder
either for extensions and betterments to the
railway or for the payment
and cancellation of bonds.
growth.
Earnings for Years end.
June 30 ’05 to ’09 and Half-Year end. Dec. 31 *091904-05. 1905-06. 1906-07. 1907-08. 1908-09. 6 Mos. '00.
Gross receipts$44,590
Net (aft. op.exp.) 22,060
$56,865 $57,182 $64,742 $70,451
$38,382
80,524
30,015
28,892
31,759
14,990
earnings during the next three years, after allowing for increased
maintenance, should Increase from about 9M% to 11%.
Directors:
F. A. Moesta, Pres, and Gen. Mgr.; James McCullough Jr.,
Sec. and Treas.; John A. Fox, Henry E. Moesta and Charles J.
Moesta,
all of Kittanning, Pa.
The net
Lehigh Valley RR. —Settlement with Subsidiary.—The Pub.
Serv. Commission has authorized the Lehigh Valley Railway
Co. to issue $825,000 50-year 5% debentures to the
Lehigh
Valley RR. Co. on account of advances made during. 1908,
1909 and up
to June 30 1910, for improvements and better¬
ments.—V. 90, p. 1676, 1101.
the
Lewiston (Me.) Augusta ft Waterville Ry.—First Divi¬
dend.—An initial quarterly dividend of 13^% has been de¬
of Seventh Ave., and to Pineapple St., Brooklyn, and
through Pineapple and Fulton streets to a connection with
the existing subway and a further extension from Flatbush
Ave. and the Eastern Parkway to Nostrand Ave.
holders of record July 15.—V. 85, p. 469.
Lincoln (Neb.) Traction Co.—Earnings.—McCoy & Co. of
city
as an
extension of the present subway, to extend
on
East Side from 34th to 194th St. by way of Lexington Ave.
and on the West Side from Times Square to the Battery by
way
The subway, part 4-track and part 2-track, would, he states, cost about
$70,000,000, and would be of more value to the public than the proposed
tri-borough route, estimated to cost $125,000,000. The company proposes,
if the city will use its credit in the building of the extensions, to operate
them, giving free transfers over any part of the Interborough system, and
pay the city all the net profits for the first 5 years and half of the net profits
thereafter.
Various charges are, however, to be deducted from the gross
proflts.and It is proposed that the city shall make good any deficit in the
so-called operating expenses.—V. 90, p. 1170.
Kanawha ft Michigan Ry.—New; Director.—Col. C. S.
Reynolds, President of First Nat. Bank of Toledo, has been
elected
a
member of the board.—V.
90, p. 1425, 977.
Kansas City Mexico ft Orient Ry.—Bonds Offered in Lon¬
don—Status.—Parr’s Bank, Ltd., and Boulton Bros. & Co.
of
London, under authority from the purchasers, received
on their behalf from June 25 to 29
applications at the price
of 84 (London terms), equal to £168 per bond of $1,000,
for $5,000,000 1st M. 4s, dated 1901 and due Feb. 1 1951,
the allottees of each $1,000 bond being entitled to option
certificates representing an option to purchase until June 1
1913 three fully paid preferred shares of $100 each at the
price of $40 (London terms) per share and three fully paid
common shares of $100 each at the price of
$25 (London
terms) per share. An advertisement said:
The shares are held in a voting trust until Jan. 1 1917, and meanwhile are
represented by voting trust certificates. The option certificates will be
delivered separately from the bonds by the United States A Mexican Trust
Co.; those relating to the pref. shares will contain a condition that, in the
event of the “making up price” of such shares on the London Stock Ex¬
change for two consecutive accounts being $50 or over, the option must be
exercised within 14 days thereafter or it will lapse.
A like condition exists
in the event of the making up price of the common shares being $35 or over.
Total auth. capital stock $75,000,000, divided Into *$37,500,000 4% noncum. pref. and $37,500,000 common.
Extracts from Letter of A. E. Stilwell, President, and E. Dickinson, VicePresident and General Manager, June 1910.
[Addressed to Boulton Bros. A Co., 39 Old Broad Street, London, E. C.]
The railway will, when in full operation, extend from Kansas City, Mo.,
to Topolobampo, Mex., 1,659 miles, and from Kansas City, via San Angelo,
to Del Rio, on the Rio Grande River, 160 miles. In all 1,819 miles, of which
139 miles are the subject of lease or traffic agreements.
The construction
companies have already expended on the railway out of their own resources
$15,000,000 gold and a further $7,000,000 derived from the sale of bonds
of the railway, making a total of $22,000,000.
With a proprietary of about
3,000 shareholders, they have contracted to provide Interest on the bonds
now offered for sale and the other bonds of the company now held by the
public up to and Including the coupon falling due Aug. 1 1912. 737 miles
of road have been finished, which, with the 139 miles held under lease or
traffic agreement, make 876 of system now in operation.
With funds provided by the present sale of bonds, sale of town sites,
the subsidies earned from the Mexican Government and other resources of
the construction companies, It is calculated that the line can be completed
to Del Rio and Chihuahua well within two years from date.
An Important
through system will thus be completed east and west In Mexico and much
valuable through business will accrue.
One year after Del Rio and Chihuahua are reached the line should be
finished throughout to Topolobampo, the splendid harbor conceded to the
railway by the Mexican Government.
The Sierra Madre Mountains have
already been pierced by the railway, and trains are running over the divide
at a height of 8,152 feet above sea level, with no heavier grade than 2 H%
and practically no snow and therefore with no need for snow sheds.
As a completed system to Del Rio and Chihuahua, we estimate that the
net earnings of the road should be over $2,000 per mile, or more than twice
the amount requisite to pay Interest on all bonds, which it is calculated will
be then Issued under the mortgage on the main line.
A highly advantageous working agreement has been entered into with the
Chicago A Alton RR. Co. for the mutual handling of through traffic be¬
tween Chicago and the Pacific Coast and the Republic of Mexico.
(Com¬
pare V. 90, p. 105.)—V. 91, p. 38.
Kittanning ft Leechburg Railways.—Childs & Childs
Moore, both of Pittsburgh, Pa., are offering at
98^ and int. the unsold portion of $227,000 1st M. 5% sink¬
ing fund gold bonds dated March 1 1910 and due March 1
1940, but all or any part redeemable after March 1 1915 at
Union Trust Co. of Pittsburgh, trustee. Par
105 and int.
$1,000c*. Int. M. & S. No deduction for any tax.
and Darr &
Abstract of Letter from Pres. F. A. Moesta, Kittanning, Pa., April 30 1910,
to Aforesaid Bankers.
■FThese bonds'are a first mortgage on (1) the electric railway about 10 miles
In length connecting the towns of Ford City, Manorvllle, Kittanning and
Wlckboro, located along the Allegheny River about 45 miles northeast of
Pittsburgh, and (2) all the capital stock of the Kittanning Electric Light
jwhich conducts an electric light and power business In the borough of
Co
clared
on
the
Chicago, who
$600,000 preferred stock, payable Aug. 1 to
are
earnings for the
Fiscal
Year—
1909-10
1908-09
—V. 90, p. 1363.
offering a block of the 5% bonds, report
ending Jan. 31:
year
Gross
Operating
Net
Earnings. Expenses. Earnings.
$566,817 $365,808 $201,009
526,846
349,350
177,496
Bond
Interest.
$56,000
Balance,
Surplus
$145,009
Manhattan Ry., New York.—Discharged of Record.—The
Metropolitan Elevated Ry. Co. first mortgage, dated July 10
1878 and due July 1 1908 (Central Trust Co.,
trustee), has
been discharged of record.—V. 89, p. 1280.
Memphis (Tenn.) Union Station Co.—Notes Offered.—
White, Weld & Co., N. Y. and Chicago, are offering at a
price to yield 4J^% $500,000 5% collateral gold notes of
$1,000 each (c*), dated Nov. 1 1909 and due Nov. 1 1911,
but callable Nov. 1 1910 or May 1 1911 at par and int.
Int.
M. & N.
Authorized and outstanding, $1,500,000.
Union
Trust Co., New York, trustee.
A circular says:
Guaranteed jointly and severally, principal and interest, by endorsement
each note, by the Louisville A Nashville RR. Co., Nashville Chatta¬
nooga A St. Louis Ry., St. Louis Iron Mountain & Southern Ry. Co.,
Southern Ry. Co. and St. Louis South western Jly. Co.; and secured by deon
Sosit with the trustee of all the outstanding $2,000,000
Memphis
tation Co. 1st M. gold 4s due Nov. 1 1959, which are also fully
Union
guaranteed,
jointly and severally, by the above five companies. The bonds are secured
by a direct first mtge. on all the real estate and property of the company
in Memphis, Tenn.; they were issued in 1909 to cover cost of lands ac¬
quired and to provide for the construction of commodious passenger ter¬
minals in Memphis for the above five roads.
Authorized amount of first
mtge., $3,000,000, the $1,000,000 unissued being reserved to cover further
possible expenditures upon the property. Compare V. 89, p. 1411.—
V. 90, p. 236.
Metropolitan Street Ry., New York.—Judge Lacombe in
yesterday made an order ap¬
proving the settlement for $5,500,000 of the suits against the
Metropolitan Securities Co. and some of its directors. See
V. 91, p. 38.
Mexico Tramways.—Report.—See “Annual Reports.”
Dividend Increased.—The directors on July 5 declared a
quarterly dividend of 1M%> payable Aug. 1, thus increasing
the annual rate from 6% to 7%.—V. 89, p. 778.
Missouri Kansas ft Texas Ry.—Offering of Secured Notes
—Purchase of Texas Central RR.—Speyer & Co., New York,
offered on July5, at 99 and int., yielding 6% on the invest¬
ment, the entire issue of $10,000,000 “one-year 5% secured
gold notes,” dated Aug. 1 1910 (when deliverable) and due
Aug. 1 1911, but redeemable at option of company at any
time at par and int. on 30 days’ notice.
Par, $1,000, $5,000
and $10,000.
Prin. and int. (F. & A.) payable in N. Y. in
U. S. gold coin; for notes sent for collection through Speyer
Brothers, London, the fixed rate of exchange of $4 863^
per £ is guaranteed.
Union Trust Co. of N. Y., trustee.
the United States Circuit Court
Extract from Letter of Edwin Hawley. Chairman Executive Committee.
Dated July i 1910.
The notes are to be ultimately secured by deposit with the trustee of—
$3,000,000 M. K. AT. Terminal Co. of St. Louis 1st M. 5% gold bonds
(a first mortgage on new terminal property in St. Louis).
*3,856,400 Texas Central RR. Co. stock (of which $1,254,300 is pref. stock
and $2,602,100 common stock), together with any further
amounts acquired.
(Compare V. 90, p. 1556, 1678.)
6,300,000 M. K. & T. Ry. Co. gen. mtge. 4H% gold bonds.
*
The M. K. & T. Ry. Co. owns $3,856,400 Texas Central RR. Co. stock
(total Issue, $4,000,000), and the Texas Railroad Commission will be asked
to approve of the exchange of the company’s present stock capitalization
Into approximately $3,700,000 consol, mtge. 6% bonds and $300,000 stock;
If such approval is secured, all the consol, mtge. bonds and stock Issued in
lieu of the deposited stock will be pledged under the trust agreement.
The
Texas Central RR. Co. owns 267.23 miles of road from Waco, Tex., to Rotan, Tex., and the new proposed consol, mtge. bonds will be subject to
prior lien bonds of that company, of which $1,139,000 are now in the hands
of the pubHc.
The Texas Railroad Commission has placed a valuation on
the Texas Central RR. as of July 1 1909 of $5,202,668.
The proceeds of the above $10,000,000 notes are to be used to finance
the cost of terminals in St. Louis, as above, new equipment and improve¬
ments, and the acquisition of the stock of the Texas Central RR. Co., a
valuable feeder.
The net Income for the fiscal year ending June 30 1909, after providing
for fixed charges, taxes, rentals, Ac., amounted to $1,374,295, while for
the 10 months ending April 80 1910 the total operating revenue shows an
Increase of $1,069,685, and the net operating Income after oper. expense# "
,
July 9 1910,
THE CHRONICLE
and taxes an Increase of $263,053 over the 10 months ending April 30 1009.
—V. 90. p. 1554. 1491.
New Jersey & Hudson River Railway A Ferry Co.—Sale.—
See Public Service Corporation of N. J.below.—V. 88,p.375.
New York
Susquehanna & Western RR.—Bonds Listed.—
The New York Stock Exchange has listed $3,500,000 Midland
RR. of New Jersey first mtge. bonds, extended at 5%, due
1940 (V. 90, p. 373).
Earnings.—For 10 months ending April 30:
Ten
Operating
Months—
Revenue.
1909-10
$2,905,826
1908-09
2,758.693
—V. 90, p. 1364. 914.
Net (after
Other
Fixed
Add'ns &,
Taxes).
Income.
Charges.
Bett’ts.
$855,096
$94,922
$840,616
$55,039
905,785
Bal.,
Surp.
$54,363
Norfolk & Portsmouth Traction Co.—Plan Ratified.—The
shareholders ratified on June 27 plan for reducing the com¬
mon stock from $6,000,000 to $3,000,000 and for
issuing
$3,000,000 of 5% cumulative pref. stock, each holder of
two shares of old common
common and the privilege of
to receive
one
share of
new
95
Canadian Electric Light Co —Water-power plant 8 miles from Quebec,
3.000 h. p. capacity; Supplies electricity to
and Bienville.
Has proved a very profitable
Levis, Romuald, St. Joseph
undertaking.
Quebec Gas Co.—Organized In 1849, and previous to the last two or three
years has earned large dividends on Its stock.
The plant has recently been
thoroughly renewed and Is In excellent condition.
Frontenae Gas Co.—Has a well-equipped gas plant In good condition.
The competition between the two gas companies has been so keen that the
price of gas was reduced first from $1 20 to $1 for 1,000 ft., then to 75c.,
finally 50c., or below cost.
The price of gas has now been brought back to $1 20 per 1.000 ft. and It
Is estimated that the two gas companies will this year make at least
$100,000 above operating expenses.
With the normal Increase In the earnings
of the three electric companies, and the amount saved on general and operat¬
ing expenses, as a result of consolidation, there will be a substantial surplus
the first year over and above the bond interest, equivalent, It is estimated,
to 2 & % of the $9,500,000 common stock; and it Is also estimated that in
not more than three years this surplus will amount to over 4% on the stock:
“The fiscal year of the Quebec Railway, Light, Heat & P wer Co. began
on Jan. 1
1910 and figures have not yet been published, although we
understand that the different companies are showing much larger earnings
since they have been
merged.”
Directors (and Officers).
<
Rodolphe Forget, M. P., Montreal, President; Lome C. Webster, Que¬
bec, Vice-President; Neuville Belleau, Quebec, Chairman of the executive
committee; Hon. Robert Mackay, Hon. J. P. B. Casgraln, J. N. Greenshlelds, K.C., Paul Gallbert, J, W. McConnell, A. Haig Sims, S. H. Ewing
and W. G. Ross, Montreal; Hoh. E. B. Garneau, Hon. C. E. Dubord, Hon
L. P. Peliitler, K.C., and W. A. Marsh, Quebec.—V 89, p. 1281, 1598.
subscribing for one share of the
pref. at $60, par $100. Practically the entire subscription
is said to be assured.
See plan, Y. 90, p. 1425, 1614.
Reading Go.—Pennsylvania Supreme Court Holds Two-Cent
Public Service Corporation of New Jersey.—Acquisitions. Passenger Rate Unconstitutional.—The Pennsylvania Su¬
—It was announced on July 1 that the company had ac¬ preme Court on July 1 affirmed the decision of Common
quired control of the Morristown (N. J.) Gas Light Co. Pleas Court No. 4 of Philadelphia rendered on June 26 1909
(Y. 72, p. 630); capital stock, $367,500; no bonds. Also of restraining the enforcement as against the company of the
the New Jersey & Hudson River Ry. & Ferry Co. (see p. 50 2-cent passenger rate law passed by the Legislature in 1907.
The company on July 1 1909 resumed the 2>^-cent single-fare
of “Electric Railway Section.”)
rate
in effect prior to Oct. 1907.
The old directors of both companies have resigned in favor of represen¬
Compare V. 89, p. 42.—
tatives of the Public Service Corporation.
The terms of purchase are not
announced, but the holders of all the $2,500,000 common stock of the Rail¬
way & Ferry Co. it is said will have equal rights to (participate in the sale.
The purchase include all of the $367,500 capital stock of the Morris¬
town Gas Light Co. and practically all of the $2,500,000 common stock of
the N. J. & Hudson River Ry. & Ferry Co.
The last-named company
on Feb. 25 1910 absorbed by consolidation Its leased line, the Hudson
River Traction Co.—V. 90 p. 1614, 1301.
Quebec Railway, Light, Heat & Power Go., Ltd.—Listed.
—This company’s shares (par $100) are dealt in at Montreal
and Toronto and arrangements were recently reported as
having been made to list in Paris certificates of 250 francs
each, representing the same. A recent list of stockholders
gave the leading holdings as follows:
R. Forget, Montreal, 24,334 shares; Glllett & Strachan, 1,823; J. N.
Greenshlelds, 3,706; Montreal Trust Co., 6,264; McDougall & Cowan, 7,391;
Mackay. 3,350; Pltbladdo & Co.. Montreal, 1.127; Frank W. Ross,
Quebec, 1,100; W. G. Ross, Montreal, 1,783; R. A. Smith, in trust, 7,577;
Sun Life. 3,100; C. Lome Webster, Halifax, 2,011; Wood, Gundy & Co.,
Toronto. 1,912; Burnet & Co., Montreal, 1,717.
Robt.
The company was Incorporated under the laws of Canada Nov. 19 1909
to unite the electric light and power, gas and street railway enterprises of
the city of Quebec, and In that connection was authorized to Issue $9,500,000
of the total Issue of $10,000,000 stock, all of one class; also $4,945,000 of a
total Issue of $10,000,000 5% 30-year consolidated gold bonds, due Dec. 1
1939, but redeemable by drawing or on notice at 105 and Int. on any Interest
day after Dec. 15 1914; Interest J. & D.
While control of the operating companies has been obtained, the separate
corporate existence of the Quebec Railway, Light, Heat & Power Co.,
of some or all of the other companies,is continued,for the present at
least.
The amount of securities actually issued by the new company to
June 22 1910 was $9,499,500 stock and $4,995,400 bond).
Denominations
of bonds: $1,000, or £205 9s. 8d.; $500, or £102 14s. 10d., and $100, or
£20 10s. 11 H&.
Under the terms of the new $10,000,000 mortgage, bonds were to be Issued
or reserved as follows: (1) $2,540,300 to be delivered to the company
forth¬
with for general purposes; (2) $1,659,700 to be delivered when paid for In
cash at par, the proceeds to be used to pay for (a) 1,908 common shares of
Can. El. Lt. Co. at par, $190,800, (b) 1,407 pref. shares of Can. El. Lt. Co.
at $120 per share, In all $168,840, (c) 7,500 pref. shares of Quebec Ry., Lt.
& Power Co. at $120 per share. In all $900,000, (d) the remainder to go to
the company for general purposes; (3) $3,659,000 are reserved to retire
the underlying bonds still out—see table below; (4) $745,000 to be ex¬
changed for 1,050 full-paid shares of $200 each and the $300,000 bonds of
the Quebec Gas Co.; (5) $50,400 to be held for exchange for an equal par
value—252 shares—of Quebec Gas Co. stock; (6) remaining $1,345,600 re¬
served for future extensions and acquisitions of properties, shares, bonds or
other securities, or for advances to subsidiary cos. for extensions, addi¬
tions and betterments.
ana
Securities Pledged
Under $10,000,000 Mtge.—As Reported Dec. 15 1909.
[All subsequently acquired shares, &c., of these subsidiary com¬
panies to be also pledged.]
-No.Shares Stock- Bonds
Issued. Pledged.
Pledged.
- z6,350
None
x950
“v”
1,248
$300,000
Quebec Jacques Cartier Power Co.. 6,400
Frontenae Gas Co
1,000
uebec Gas Co__
1,500
uebecRy., Lt. & Power Co.J7%pf 7,500
(see "** below.)
Canadian El. Lt. Co
4,000
*14,000
1,407
705
960
1,908
lcom .25,000
Jpref
\com
_
_
Bonds
Still Out.
$849,000
“i/”
None
$2,500,000
(5s 1913-23)
310,000
datedJan’01
Remaining 50 shares being held as directors’ qualifying shares. “y”The
company, having acquired all the bonds of the Frontenae Gas Co.,cove¬
nanted to cause their cancellation without unnecessary delay.
“*” The
company declares that It has set aside 50,000 shares of Its
capital stock
(equivalent to $5,000,000) to be used solely for the purpose of acquiring
and paying for 25,000 shares (equivalent to $2,500,000) of common stock
of the Quebec Ry., Lt. 6s Power Co., being the entire issue of the common
shares of said company, which shares are to be acquired on the basis of
two shares of the company for each one (common) share of the Quebec
Ry., Lt. & Power Co.r’
x
Estimated Earnings 1910.
Estimated net earnings..*
Bond interest on $3,659,000 underlying bonds
Surplus [Int.
on
$4,995,400 5% consols
now out
$698,733
186,050
calls for $249,-
770.—Ed.]
$512,683
Note.—This estimate is from circular of the Dominion Securities Corpora¬
tion, Ltd., of Toronto, who are offering at par and int. a block of the
$849,000 underlying first refunding mtge. 5% gold bonds of the QuebecJacques Cartier Electric Co., par $1,000 (c*), dated 1901 and due Dec. 1
1931; interest J. & D. in New York: Trustee, Trust Co. of America, N. Y.
Condensed Authoritative Description oj
Amalgamated Companies Jrom
“Annual Financial Review.”
Quebec Railway, Light A Power Co.—Has a water-power plant, present
capacity 7.000 b. p., at Montmorency Falls, about 6 miles from Quebec; an
extensive electric light and power
business, a street railway system in
Quebec comprising about 17 miles of track, and a suburban electric railway
extending to Montmorency Falls, Ste. Anne de Beaupre and Cape Tourmente, a distance of about 30 miles, of which 6 mllesl s double track.
This
line to operated both as a steam and electric
railway. This company paid
2% dividends on Its $2,500,000 common stock last year, and has been
steadily Improving In physical condition and financial strength year by year.
Jacques-Cartier Electric Co.—Water-power plant situated about 20 miles
from Quebec, present capacity 4,000 h.
p.; also up-to-date steam plant In
Quebec, 2,250 h. p. Notwithstanding competition of Quebec Railway,
Light & Power Co., has paid substantial dividends.
>
’
V. 90, p. 1614, 1555.
Rome Watertown &
Ogdensburg RR.—Refunding.—The
has applied to the Public Service Commission,
Second District, for permission to issue $419,000 consolidated
mortgage bonds, of which $417,800 to be used to refund
the $417,800 6% bonds maturing Sept. 1 and $1,200 for
improvements.—V. 72, p. 1238.
Sherbrooke (Quebec) Ry. & Power Go.—Bonds Offered.—
McCuaig Bros. & Co., Montreal, and Brouse, Mitchell & Co.,
Toronto, recently offered at 95 and int., on behalf of the
underwriters, $600,000 5% consol, first mtge. sinking fund
gold bonds (carrying 40% stock bonus), dated July 1 1910
and due July 1 1940, but redeemable as a whole at 105 and
•int. on any int. date after July 1 1916, or annually for
sinking
fund drawings.
Par $500. Trustee, Montreal Trust Co.
Interest J. & J.
The bankers say in brief:
company
»
Incorporated in Quebec. Authorized capital stock, $1,500,000; issued,
$700,000; par, $100. Of the $700,000 consol, first mtge. bonds now being
issued, $100,000 are held in escrow to retire the outstanding issue of $100,000
Sherbrooke St. Ry. bonds, due June 30 1927.
?
The balance of $800,000 consol, first mtge. bonds and ordinary shares
will remain available for future requirements.
The bonds are a first mtge.
upon the hydraulic development and transmission lines, upon all street
railway extensions, and new rolling stock, and cover the franchises and
existing lines, subject only to $100,000 Sherbrooke St. Ry. bonds.
Estimate of Consulting Engineers for the First Year After Work Is
Completed.
Street Ry. Power Dept. Rentals.
Total.
Gross revenue.
1
$68,250
$52,000
$120,250
i
Net revenue (after oper. cost)
27,300
39,000
$3,000
69,3004
Bond interest calls for $35,000, leaving on above basis a
surplus of
The gross earnings of the old railway for 1909 amounted to
$34,300.
$31,222, and with largely increased mileage, reaching the residential sec¬
tions, the above estimate should be conservative.
Applications have been
received for the greater part of the available power, and there Is reason to
believe that on the completion of the development in November the whole
will be contracted for.' Sherbrooke in 1871 had a
population of 4,332; at
present, about 17,000.
It is estimated that, including Lennoxville, where
Bishop’s College is situated, the street railway serves a population of 20,000.
Although the population of the city has increased over 50% in the 15 years
since the street railway began operations, the system has never been
extended.
It is now proposed to more than double the
existing mileage.
Directors: Pres. Clarence J. McCuaig, Sec.-Treas. Frank
Thompson, S. H. *
Ewing and R. T. Hopper, all of Montreal; W. H. Brouse .Toronto, and
Wm. Far we II. Sherbrooke.
_
Temple
&
Northwestern
Ry.—Mortgage.—The Texas
Railroad Commission has authorized the company to issue
1st M. 5% 30-year gold bonds at $23,000
per mile.
Total
issue on 101.9 miles under contract to be
$2,343,700; present
issue, $185,000. Dated June 1 1910, due in 1940, but red. :
on 6 mos.’ notice at
par ($1,000 & $500).
Int. J. & D. at
Dallas.
Trustee, Guarantee State Bank & Trust Co.
Vice-Pres, and General Attorney H. W. Peck,
Temple,
Tex., June 28 1910, wrote in substance:
The company has under construction 65 miles of line.
Temple to Hamil¬
ton, with 101.9 miles in all contracted for.
This will bring the road Into
Comanche, Tex.; 110 additional miles are projected as an extension. This
road to being built through one of the richest sections in
Texas, and will
reach farm alter farm of cotton, corn and other staple
agricultural products.
At Temple It will connect with the Santa Fe and M..K. & T.
railways,
the Gulf,
at ether
with
the Frisco,
the
giving
direct North
outlets&toSouth
tephenvllle
Texasand
(Cotton
and the
Belt)points
Orient
when built
that far.
The line runs north and south through a
territory not at present
possessing railway facilities.
The corporation has acquired its right of
way to Comanche*: including
depot grounds, terminals, &c., and in addition to its capitalization has
something like $300,000 in cash. We propose to begin laying rail in the
next 15 days and expect to get to Gatesville in
September and to Hamilton
(about 68 miles) by Jan. 1 1911.
Much grading has been completed, and
President McDaniel is now in Kansas
City negotiating for rail.
[The company was incorporated on Mch. 16 1910 with $100,000 author¬
ized capital stock In $100 shares.
Directors: Pres, and Gen. Mgr., W. J.
McDaniel; V.-P. and Gen. Attorney, H. W. Peck; 2d V.-P., J. B. Grigsby;
Treas., P. L. Downs, S. P. Sadler, W. B. Ferguson and J. W. Bird.
Office,
Temple, Tex.]
Texas Central RR.—Sold to Missouri Kansas & Texas
Ry.—See that
co.
Third Avenue
above.—V. 90, p. 1556, 1678.
RR., New York.—Hearings Closed.—The
hearings before the Public Service Commission on the pro¬
posed modified plan of reorganization, which had been going
for about 6 months, were closed late in June.
W. D.
up for the purchasers of the road at fore¬
closure sale, and the bondholders’ committee,
on
Guthrie, summing
said:
The present plan provides for a reduction in fixed charges of $870,000
and for upwards of $7,000,000 of new
money.
Including the capital to be
issued for the latter, the plan provides for an actual reduction in the aggre¬
gate amount of securities of upwards of $10,000,000.
.
96
THE CHRONICLE
The plan, It Is stated, has been received with
practically unanimous ap¬
proval Dy the two or three thousand holders of the securities of the old com¬
This Is the first reorganization the Commission has been called to
pany.
act
upon.—V. 91,
p.
39.
Twenty-Eighth & Twenty-Ninth Streets Crosstown Ry.—
Again Postponed.—The foreclosure sale has been again
adjourned to July 13.—V. 90, p. 1556.
United Light & Railways Co.—Plan.—As stated in
'V. 90, p. 1678, Child, Hulswit & Co., Grand Rapids,-Mich.,
plan to organize a company with this name under the
laws of Maine to acquire immediately, by exchange of se¬
curities, all of the properties which have been under the gen¬
eral direction of Child, Hulswit & Co. for several years; also
Cedar Rapids Gas Light Co. and La Porte Electric Co.
The firm named is receiving subscriptions at par for the new
1st pref. stock (with 40% common stock), subscriptions not
to be due until the plan has been declared operative.
Abstract of Prospectus.
Companies to be Acquired (Operating Under Favorable Franchises).
Compare V. 90. p-. 1678.
Cedar Rapids (la.) Gas Light Co. (V. 89, p. 1485); La Porte (Ind.) Elec¬
tric Co.; Ft. Dodge (la.) Light Co. (V. 82, p. 1043); La Porte (Ind.) Gas
Light Co. (V. 89, p. 166); Muscatine (la.) Light & Traction Co. (“El. Ry.
Sec.”); Mattoon (Ill.) Gas Light Co. (V. 81, p. 730, 1668); Cadillac (Mich.)
Gas Light Co. (V. 84, p. 805); Chattanooga (Tenn.) Gas Co. (V. 89, p. 165).
Gas Plants.—Entire gas business In Cedar Rapids (supplying also sub¬
urbs of Marlon and Kenwood Park and Intervening territory), Ft. Dodge
and Muscatine, la.; Cadillac, Mich.; La Porte, Ind.; Mattoon, Ill., and
Chattanooga, Tenn. Electric Plants.—Entire electric light and power
business in Ft. Dodge and Muscatine, la., and La Porte, Ind.
This In¬
cludes satisfactory contracts for lighting the city streets in each city.
Electric Railways.—Entire electric railway business In Muscatine, la.
Heating Plants.—Entire hot water district heating system In La Porte, Ind.
Capital Stock, Total Authorized to be $30,000,000—Immediate Issue to be
$3,799,500 {No New Bonds).
First pref. stock ($12,500,000) will be a 6% cumulative stock,
pref. both as to assets and dividends. Immediate Issue to be..$2,133,000
Second pref. stock ($5,000,000) will be a 3% cumulative stock,
pref. as to assets and dividends, subject to the 1st pref. stock,
and convertible at the end of 3 years from date of Issue, share
for share. Into 1st pref. or common stock, at option of holder.
This option shall continue for 60 days after the expiration of
3 years and thereafter the company shall have the right to
require conversion Into either 1st pref. or common stock, as
It may elect.
Immediate Issue to be
866,500
Common stock ($12,500,000) will be ordinary common stock,
and will be the only stock having voting power.
No dividends
can be paid on this stock until full dividends at 6 % on the 1st
pref. and 3% on the 2d pref. have been paid In any one year,
as well as any
accumulated dividends which may exist.
Immediate issue to be
800,000
The above
all subsidiary
plan provides for the retirement of the entire floating debt of
companies; the retirement of all bonds of the Ft. Dodge Light
Co., the Muscatine Light & Traction Co. and Mattoon Gas Light Co.; and
the provision of $250,000 working capital, so that the United Light & Rail¬
ways Co. will control and own the entire capital stock of all companies In¬
cluded In Its organization, subject only to the following;
Underlying Securities that Remain Outstanding.
Bonds, 5%
$2,231,5001 Pref. stock, 6%
$500,000
Estimate of Earnings of All the Constituent Companies.
[‘‘Based on present earnings of constituent companies and assuming that
the Increase will be no greater during calendar year of 1910.”]
Gross earnings of all the constituent companies
:
$861,600
Net earnings (after operating expenses, taxes and Insurance)
343,375
Interest on $2,231,500 underlying 5% bonds and $500,000 under¬
lying 6% pref. stock of constituent companies
141,575
Earnings available for United Light & Railways Co
$201,800
Deductions—Dividends, &c., of United Light & Railways Co.—
6% on $1,883,000 1st pref. stock issued for exchange and pur¬
chase of property, less working capital [l. e., not including
$250,000 Issued therefor—Ed.]
$112,980
f 3% on $866,500 second pref. stock
25,995
Conservative operating expenses
20,000
Surplus equal to 5 1-3%
on
$800,000
common
stock
$42,825
Proposed Board of Directors.
Schaadelee, Ral£h S. Child and Hugh Blair,
all of Grand Rapids, being respectively Pres., Vice-Pres., Sec. and Treas.
of Child, Hulswit & Co.; Glenn M. Averlll (Sec. Cedar Rapids Gas Lt. Co.)
and John T. Hamilton, both of Cedar Rapids; Geo. B. Caldwell (Mgr. bond
dept. Am. Trust & Savings Bank), Chicago; E. G. Filer, Manistee, Mich.;
J. P. Hoskins, Chattanooga, Tenn.; C. A. Peck, Kalamazoo, Mich.; Wm.
H. Gay, Henry B. Herpolsheimer, Clay H. Hollister, William Judson, Ben¬
jamin C. Robinson, Guy W. Rouse, E. A. Stowe and Howard A. Thornton,
all of Grand Rapids, Mich.
Officers.—Pres., Frank T. Hulswit, 1st V.-P., Richard Schaddelee; 2d
V.-P., Ralph S. Child; Sec. & Treas., Benjamin C. Robinson.
The properties Immediately acquired are located in prosperous Industrial
cities, all steadily growing and every one of them surrounded by country
rich In agricultural or mineral resources.
Combined population, 184,000
people, and the aggregate amount of the capital, surplus and deposits of
their 43 banks, $61,753,186, as follows:
Chattanooga, population, 75,001;
capital, surplus and deposits of 12 banks, $15,919,000.
Cedar Rapids,
population, Including suburbs, 40,000; capital, surplus and deposits of 9
banks, $25,541,000. Muscatine, population, 18,000; capital, surplus and
Ft. Dodge, population, 16,000; capital,
deposits of 6 banks, $6,761,451.
surplus and deposits of 5 banks, $5,086,735.
Mattoon, population, 14,000;
capital, surplus and deposits of 5 banks, $2,378,000. La Porte, population,
13,000; capital, surplus* and deposits of 4 banks, $4,501,000.
Cadillac,
population, 8,000; capital, surplus and deposits of 2 banks, $1,566,000.
The operations of the company will be along similar lines as those of the
American Light & Traction Co., which was organized in 1901; and its
marked success is generally well known.
In addition to the consolidation of
Interests now acquired from time to time when especially attractive situa¬
tions are obtainable, additional properties will be taken over.—V. 90, p. 1678.
Frank T. Hulswit, Richard
Wabash-Pittsburgh Terminal.—Status of Reorganization
Plans.—About 95% of the first mortgage bonds (other than
about $6,000,000 held by the Wabash RR.) are deposited
with the following committee:
J. N. Wallace (Chairman), Paul Morton, Haley Fiske, Harry Bronner,
Myron T. Herrick, Gordon Abbott, Geo. P. Butler, D. Crawford Clark,
C. C. Jackson and Asa T. Wing.
Although several plans of reorganization, including settle¬
the Wabash RR. and Wheeling & Lake Erie
noteholders, have been prepared and proposed to the com¬
mittee by various interests, no plan has yet been adopted
by the committee because of failure to reach satisfactory
agreement with the other interests involved.
Announcement by the committee of a plan of reorganiza¬
tion, including the Wheeling & Lake Erie, must be deferred
until a satisfactory settlement has been effected with the
Wheeling noteholders.
ments with
In the meantime the committee has continued to press the
foreclosure proceedings under the first mortgage and also the
claims against the Wabash RR.,in order that a reorganiza¬
tion of the Terminal Company’s property by itself, if finally
lxxxxi
deemed advisable, may be effected with the least
possible
delay and with the
bondholders
Sale
[Yol.
recovery
of all property to which the
entitled.—V. 91, p. 39.
Wages.—Increases Granted and Asked.—Among the events
of the week
are
are:
oi/ukwiwjcjh ±
vTTHury.—Auvauce granted—see
editorial column.
Pennsylvania RR. East of Pittsburgh, Erie and Buffalo.—Some 15
000
are balloting on the question of
striking, the result to be known
July 12.
A voluntary Increase of 6% took effect June 1, but the men claim
that they are entitled to from 5 to 20% more than Is paid
by other comoan—
les for similar service.—V. 90, p. 1556.
**
trainmen
Wheeling & Lake Erie RR.—Application to Issue Receivers’
Certificates.—Receiver Worthington has applied to Judge
Taylor in the United States Circuit Court at Cleveland for
permission to issue $188,500 receivers’ certificates to com¬
plete the Sugar Creek & Northern RR. and $220,150 to
purchase tools, construct stations, &c.; also to extend for
one year the certificates due
July 1 or to mature in the near
future, the holders of which have agreed to the extension
—
V.
91,p.40.
Wisconsin Traction, Light, Heat & Power Co.—Additional
Bonds Authorized.—The Wisconsin Railroad Commissioners
have authorized the company to issue $500,000 5% 30-year
additional first mortgage gold bonds, maturing July 1 1931,
for extensions and additions, the bonds to be sold for not less
than 75% of the par value.—V. 79, p. 1267.
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Gas & Electric Co.—First Common Stock Divi¬
dend.—An initial quarterly dividend of 1% on the $2,500,000
stock has been
declared, payable July 12 to holders
July 5.—V. 89, p. 722.
American Meter Co.—Stock Increase.—A company with
this name and headquarters in Albany is reported to have
filed on May 31 under New York laws a certificate of increase
of capital stock from $10,000 to $8,000,000.
common
of record
The certificate was signed by William McDonald, Christian Meyer,
Frederick H. Wells, Donald McDonald, Frederick McDonald, George W.
Stedman and Charles S. Stedman.
[The original American Meter Co. was
Incorporated In N. Y. In 1863 and Its auth. stock at last accounts was
$6,000,000 In $100 shares: dlv. rate reported as 6%.
See V. 80, d. 1730.
American Petroleum Co., Los Angeles.—Dividend Reduced.
—A Los Angeles paper on June 30 said:
The American Petroleum Co. have reduced their dividend rate from 12%
to 8% per annum, but It Is only expected to be temporary to meet extra
development extensions.
(Compare matter in brackets In report of Union
Oil Co. of California, V. 90, p. 1485).—V. 89, p. 995.
American Woolen Co.—Rumor Denied.—President William
M. Wood disposes of a rumor regarding the state of his
health by saying:
“I have never been in better health in
life. I am still on the job.”—V. 90, p. 636, 622.
Congress Hotel Co., Chicago.—Dividend on Common Stock
Omitted.—The “Chicago Record Herald” of July 6 said:
my
The company has omitted the dividend on its [$1,900,000] common stock.
This is understood to be due principally to increased cash requirements on
account of bond maturities and to the necessity for a larger cash reserve.
The company has paid as high as 16%.
The extra dividends were cut off
recently, and the last payment made was at the rate of 10%.
The common
shares have sold above 160; they are offered now around par to 105. [There
are also some $389,500 5% pref. stk. and $820,000 1st M. 5s.]—V.82,p.1325.
Consumers’ Light &
See Fort Worth (Texas)
Heating Co., Fort Worth, Tex.—
Gas Co. below.—V. 83, p. 157.
(J. B. & J. M.) Cornell Co., New York City.—Report of
Committee.-—The committee appointed by the creditors of the
company at a meeting held in the offices of the Lukens Iron
& Steel Co. at Philadelphia on May 4 1910, to investigate the
report of the receivers and to outline a plan of reorganization,
reported substantially as follows under date of May 9:
It Is our opinion that If the work now in hand be carried to completion, a
substantial surplus will remain over and above the receivers’ liabilities:
also that it is impossible for the receivers to complete the work now In hand
without further working capital:
The $200,000 which they have borrowed
upon their certificates is now past due.
A sale of the assets at the present
time would, in our opinion, result in a total loss to all unsecured creditors.
On the other hand, If the company be taken out of the receivers’ hands
and a new company organized with some working capital, It could, with
proper management, be carried on profitably and its capital stock made
valuable.
To reorganize the company properly will requhe the purchase of the land
at Cold Spring upon which the company’s plant is erected, the payment of
the receivers’ certificates and the retiring of present outstanding bond issue.
The owners of the land at Cold Spring have signified their willingness to
accept as Its purchase price $20,000 in cash (to pay off certain infant heirs)
and $140,000 par value of bonds of a new company, provided not more
than $600,000 of such bonds are now Issued.
The present bondholders
have signified their willingness to surrender their bonds for 25% in bonds
and 75% in stock of the new company.
Proposed Capitalization of New Company, Following Judicial Sale.
Total auth., $750,000; present Issue to be._ $600,000.'
To purchase Cold Spring land
$140,000
Part consideration for existing bonds
157,250
Offered (with stock bonus) to creditors at par for
6% 20-year bonds.
cash..
Capital stock; auth., $1,750,000; present issue to be
As part consideration for existing bonds.
302,750
1,000,000'
$361,250
Available for stock bonus, &c
638,750
The reorganized company will therefore have at its disposal $302,750
bonds and $638,750 stock.
It is proposed that these bonds be sold at par
with a stock bonus [exact amount of bonus not yet determined.—Ed.].
Your committee recommends that all creditors subscribe for the bonds,
this being the only way that the business can be held together.
The
proceeds of these bonds will be required for the following purposes: to
retire receivers’ certificates, $200,000; to pay cash part of purchase price
for land, $20,000; to pay receivers’ and counsel fees, mortgage tax, incor¬
poration fees and furnish cash capital, $82,750; total, $302,750.
The receivers and their counsel have suggested that If the company be
reorganized along the lines indicated they would be willing to accept bonds
for their fees.
The cash requirements would thus be further reduced.
[Signed by Frank L. Froment, Chairman; B. A. Hegeman Jr., G. C.
Carson, W. B. Symmes Jr. and George McMurtrle Godley, Secretary, Room
1902, No. 2 Rector St., N. Y. City; telephone, Rector 5,558.
[The company, maker of structural steel for bridges and buildings, was
on March 10 1909 placed in the hands of A. Gordon Murray and Micheal
Blake as receivers by the United States District Court In New York City..
The company was established in 1853 and it erected the Tower Building at
50 Broadway, N. Y. City, 9 stories, the first skyscraper down town.
The
foregoing plan Is Interesting as a matter of record, though, we understand
that it has not met with sufficient support from the creditors to make lt,
ikely of adoption without some modification.—Ed.]
0191
July 9
THE CHRONICLE
1910.]
Cumberland
97
Total
Income.
Int.on Bds.
<fe Notes.
S.F.& Exhaustion.
$2,011,002
667,323
$437,500
406,875
$101,402
90,816
tion,&c.
$364,064
282,538
Balance,
Surp. or Def.
sur.$1,108,036
def.
112,906
$3,427,093
$833,333
$191,614
$708,166
sur.$1,693,980
Telephone & Telegraph Co.—Mississippi
Fine.—Judge Blount in the Chancery Court at Water Valley,
Miss., on June 28 imposed a fine of $175,000 on the company
Three
Months—
1910
1909
Six Months—
The company was charged with entering into a contract with the Oxford
Telephone Co. to shut off competition.
An appeal will be taken to the
State Supreme Court.
The penalty Imposed amounts to $200 a day (the
lightest under the statute) “from the day the combination became effective,
Feb. 24 1908.”—V. 90. p. 501. 375.
1909
926,454
792,500
141,223
def.
483,359
490,628
The unfilled orders on June 30 1910 were 379,836 gross tons, against
384,9 4 in 1909.—V. 90, p. 1617, 985.
‘
for violation of the State anti-trust law.
Davis-Daly Copper Co.—Assessment.—The directors have
an assessment of $1 per share upon the
outstanding
capital stock, to be paid 50c. per share July 20 and the re¬
mainder Sept. 20 1910, either at the Metropolitan Trust Co.,
49 Wall St., N. Y. City, or the International Trust Co., 45
Milk St., Boston.—V. 87, p. 1535.
Denver Irrigation & Reservoir Co.—Receivers’ Certificates.
-—The United States Court is reported to have authorized
an issue of $650,000 receivers’ certicfiates to provide for the
completion of the Stanley dam, &c. (Compare V. 84, p.
1554.)—V. 90, p. 1557.
Dodge Manufacturing Co., Mishawaka, Ind. (Machinery
for Transmission of Powers)—Pref. Stock Offered.—Sub¬
scriptions are being received at par ($100 a share) at the
Central Trust Co., Indianapolis, for the unsold portion of the
present issue of $1,000,000 6% cumulative pref. stock, re¬
deemable in whole or part after Jan. 1 1912 at 103 and ac¬
cumulated dividends.
Total authorized issue $1,500,000;
dividends J. & J.
Common stock $1,000,000.
A circular
says in brief:
called
This Issue is to fund the floating debt, provide more working capital,
refund at maturity or in advance the remaining first M. bonds ($180,000
after Oct. 1 1910, maturing April 1911 to Oct. 1914, a reserve having been
made for prior maturities of $50,000), and make further extensions and
Improvements. The following are now in construction: Steel, reinforced
concrete heavy warehouse, 256 x 112 ft., four stories and basement; foun¬
dry extension, 360 x 80 ft. Late in 1909 an extension (250 x 125 ft.) to
the main machine-shop building was finished, completing a shop 600 ft.
in length, with electric traveling cranes and latest equipment.
No prior mortgage or lien to the pref. stock can be created without written
consent of two-thirds of the holders.
The net assets (with accounts and
bills payable deducted) shall always be double the amount of outstanding
pref. stock. The pref. stockholders upon request shall receive a yearly
financial statement, compiled by a chartered accountant.
On liquidation
all pref. stock and accumulations thereon shall be paid before participation
by common stock.
Bal. Sheet after Sale of the $1,000,000 Pref. Stk. based upon Jan. 1 ’10 Exhibit.
Resources ($3.479,994)—
Liabilities ($3,479,994)—
Real estate and plant
$1,322,701 Common stock
$1,000,000
Material in process & mfd
941,531 Preferred stock
1,000,000
Cash, bills & accts. rec’le.
955,961 Current work’g accts. pay.
82,142
Additional work, capital
Serial bonds to be retired.
230,000
and reserve for retiring
Surplus, undivided profits
bonds as they mature._
and reserve
259,800
1,167,852
_
The average annual profit for the
past six years, plus the sum paid
annually for interest, after liberal deductions for depreciation, has been
more than $240,000
per annum, or four times the amount required to pay
the dividends.
Business was established in 1878 by Wallace H. Dodge.
Incorporated in 1880 under laws of Indiana, capital stock $50,000, which
In 1888 was increased to $250,000, in 1897 to $500,000, in 1903 to $1,000,000.
Considerably more than $2,500,000 has been earned for the share¬
holders; of this more than $2,000,000 has been added to resources.
In 1882 Mr. Dodge and his associates invented the wood split
pulley, with
interchangeable bushings. Soon the Dodge American system of rope trans¬
mission was added.
To-day the products Include: Wood and iron split
pulleys, shafting, clutches, couplings, sheaves, floor stands, hangers and
bearings, machinery and equipment for rolling mills, glass works, cement
plants, cotton and woolen mills, sugar mills, flour mills and grain and other
elevators; water-softening and purifying apparatus for steam and industrial
purposes; machinery for handling and transporting materials, and every
branch of factory equipment and power distribution.
Occupies with its
factories about 19 acres of floor space; employs more than 1,200 opera¬
tives.
Annual business more than $2,000,000.
M. W. Mix is President.
Dominion
Steel
Corporation.—Lease.—A three-years’
lease of the Cumberland Railway & Coal Co.'s coal mining
areas in the vicinity of Glace Bay, N.
S., with the option of
purchasing for $500,000, was recorded at Halifax on June 30.
(Compare V. 85, p. 1338; V. 87, p. 37.) The “Coal Trade
Journal” of New York says*
The property in question is a detached area adjoining the coal lands
owned by the Dominion interests, and is entirely distinct from the Springhill holdings of the Cumberland Ry. & Coal Co.—V. 91, p. 41.
Fort Worth (Texas) Gas Co.—Successor Company—Stock
Increase.—This company, successor of the Consumers’ Light
& Heating Co., confirms the statement that a certificate has
been filed
increasing the capital stock from $400,000 (as
increased from $200,000 in Oct. 1909) to $800,000, all of
one class and all
outstanding. Bonded debt, if any, not
stated.
Houghton County (Mich.) Gas & Coke Co.—Earnings.—
McCoy & Co. of Chicago, who are offering a block of 5%
bonds, report earnings for the year ending April 30:
Fiscal
Gross
Year—
Earnings.
1909-10 ....j
$59,847
1908-09
53,172
—V. 82, p. 808.
Operating
Expenses.
$37,516
33,895
Net
Earnings.
$22,331
19,277
Bond
Interest.
$10,000
Balance,
Surplus.
$12,331
International Agricultural
Situation.—A press
Corporation, N. Y.—Potash
dispatch from Berlin on July 5 said:
The Bundesrath considered to-day the American State Department's
protest against the German Parliament’s potash syndicate law.
It au¬
thorized the Chancellor to negotiate an agreement with the American
Government on the basis of recognizing the American contracts to 1912,
but not options extending the contracts to 1917.
The Chancellor trans¬
mitted a reply in that sense to the American Government on Saturday.
The position of the State Department towards Germany appears to have
been very firm.
Compare V. 91, p. 41; V. 90, p. 1557, 630.
Kentucky Electric Co., Louisville, Ky.—Earnings.—The
bond department of the United States Trust Co., Louisville,
which is offering at 95 and int. 1st M. 5% gold bonds dated
Oct. 1 1909 (auth., $1,500,000; outstanding, $400,000),
reports:
Year
ending—
May 31 1910
Dec. 31 1909
See Louisville
Gross.
Net.
Interest.
$158,443
$7,776
$70,498
132,317
54,294
5,276
Lighting Co. below, also V. 90, p. 562.
Bal.,Sur.
$62,722'
49,018
Lackawanna Steel Co.—Results.—The combined earnings
of the company and subsidiaries for the 3 and 6 months
ending June 30 1910
were:
Deprecia-
.
Lake Superior Corporation.—Guaranteed Bonds—Earnings,
&c.—See Algoma Central & Hudson Bay Ry. under “Rail¬
roads” above.—V. 90, p. 1299.
Lake Superior Iron & Chemical Co. (of New York).—
Status of New Company.—The following has been published
regarding this
new company, financed, it is understood, by
the Union Trust Co. of Detroit.
The facts are evidently
from the official prospectus:
Papers have just been signed which transfer the property of the Lake
Superior Iron & Chemical Co. to a new company of the same name incor¬
porated under the laws of New York.
In addition to 6 charcoal plg-fron
furnaces and certain chemical plants, the new company acquires 35 miles
of railway and equipment and leases the valuable Yale mine with 570,000
tons of ore blocked out, also the semi-developed Tylers Fork mine, both
located on the Gogebic Iron Range, Mich.
The properties have been
$5,883,903, viz.: furnaces, $1,313,728; chemical plants,
Yale mine (profit in ore presently blocked out), $825,830;
woodlands owned In fee, $2,662,529; stumpage contracts, advance pay¬
ments, $145,680; railways, $171,538; lumber camps, $145,412.
To the
aforesaid value of properties, $5,883,903, add cash set aside for re-modeling
chemical plants, $1,000,000;
working capital (cash), $1,675,000; total
assets, cash, &c., $8,558,903.
The capital stock of the new company is $1,625,000 7% cum. pref. stock
(convertible into common at par) and $8,375,000 common stock.
An issue of $10,000,000 bonds has been authorized, of which $3,500,000
are reserved for future acquisitions; $6,500,000 sinking fund 6%bonds are
Issuable at this time as follows: Stockholders of the old co. to receive $1,500,000, foreign markets to dispose of $3,000,000 and $2,000,000 to go to N. Y.
The present properties comprise iron furnaces and chemical plants at
Ashland, Wis.; Manistlque, Newberry and Elk Rapids, Mich.; Iron furnaces
at Boyne City and Chocolay, Mich.; the Yale iron ore mine at Bessemer,
Mich.; the Tyler Forks iron mine at Plummer, Wis.; and 170,000 acres of
timber land [another account says that the hard-wood supply covers
301,709 acres] in both Wisconsin and Michigan.
The manufacture of
charcoal by the kiln methods being obsolete because of the waste of the
by-products (wood alcohol, acetate of lime, &c.), $1,000,000 in cash is
set aside to rebuild these plants and to build a new plant at Chocolay.
After the expenditure of this $1,000,000, it Is estimated that the Income
will be: 198,000 tons of charcoal pig iron at $3 50 profit per ton, $693,000;
3,420,000 gals, of wood alcohol at 23c. per gal., net at plants, $786,600;
61,560,000 lbs. of acetate of lime at 1.6c. per lb., net at plants, $948,960;
total, $2,428,560.
Having made allowance for possible shut-downs, &c.,
the total net earnings before depreciation and Interest are estimated at
$1,383,420.
The combined net earnings (before Interest and depreciation) of the
properties acquired, Including Ashland Iron & Steel Co., Manistlque Iron
Co., Burrell Chemical Co., Michigan Iron Co., Ltd., and Superior Chemical
Co., for the period from Jan. 1 1905 to Jan. 31 1910 are reported by certified
accountants as $2,458,213, of $483,582 per annum.
In the manufacture and grading of the iron it is planned to give especial
attention to the requirements of makers of automobiles, cylinders, car
wheels, engines, &c., and to be prepared from the various furnaces to supply
a uniform metal of superior merit for each purpose.
The board comprises:
President John Joyce, of Boston, director In
Shawlnigan Water & Power Co.; F. M. Harrison, Pres, of U. S. Industrial
Alcohol Co., N. Y.; W. H. Mathews, Gen. Mgr. Boyne City Chemical Co.,
Boyne City, Mich.; Thomas McDougall, Vlce-Pres. Shawlnigan Water &
Power Co., Quebec; Hon. William G. Sharp, Elyria. O.; Frank W. Blair,
Pres. Union Trust
Co., Detroit; H. H. Mevllle, Vlce-Pres. Canadian
Northern Ry., Boston;
George H. Russell, Pres. People’s State Bank,
Detroit; Hon. William A. Charlton, Toronto, Ont.; M. Cochran Armour,
Chicago, Ill., partner Rogers, Brown & Co.
The company’s office will be
appraised
$619,186;
at
in Detroit, as heretofore.
Rogers. Brown & Co. have been appointed sole agents for the sale of all
new company’s pig Iron output.
Compare V. 87, p. 1608.—V. 91, p. 41.
the
Linn & Lane Timber Go. (operating in Oregon).—Bonds
Offered.—A. G. Edwards & Sons, St. Louis and N. Y., are
offering at par and int. 1st M. 6% gold bonds, part of $1,500,000 dated June 6 1910 and due $25,000 semi-annually
Dec. 1 1911 to June 1 1914; $50,000 semi-an. Dec. 1 1914 to
June 1 1926 and $75,000 s.-a. Dec. 1 1926 and June 1 1927,
but subject to redemption at 102)^ and int. on 90 days’
notice.
Union Trust Co. of Chicago and F. H. Rawson,
Chicago, trustees. Int. J. & D. in Chicago. Par $1,000,
$500.
Guaranteed, prin. & int., by endorsement by Chas.
A. Smith, Minneapolis, Minn.
A circular says:
A 1st M. on (a) approximately 70,000 acres of virgin timber lands In
Linn, Lane, Coos, Curry, Douglas and Lincoln counties. Western Oregon;
(b) lumber manufacturing plant, valued at $200,000.
The timber, chiefly
fir, is estimated at 4,351,450,000 feet and valued at $1 per 1,000 ft., or
$4,351,000; bonded debt only 34 H cents per 1,000 ft., or $1,500,000.
The Charles A. Smith Lumber & Mfg. Co. has contracted until 1935 (the
last bond matures in 1927) to cut, or pay for without cutting, 30,000,000 ft.
of timber per year at the minimum rate of $6 per 1,000 ft. for cedar and $3
Sinking fund (prior to cutting of timber) $2 50 per
per 1,000 ft. for fir.
1,000 ft., will retire the entire indebtedness when one-seventh of the timber
has been cut.
Mr. Charles A. Smith and his allied companies are among the
largest timber owners and lumber manufacturers in the United States; his
net worth is reported as many times the amount of this issue.
Louisville
(Ky.) Lighting Co.—Merger Plan.—On July 5
20-year franchise ordinances were introduced in the
Lower House of the Louisville General Council by Dr. Charles
Russman, with a view, the “Louisville Courier Journal”
says, to merging the Kentucky Electric Co. (Y. 90, p. 562),
the Louisville Gas Co. (Y. 90> p. 55), the Louisville Lighting
Co. (V. 79, p. 2799; V. 84, p. 1252; V. 90, p. 306) and
the Louisville Heating Co. (V. 76, p. 657).—V. 90, p. 376. s
Louisville (Ky.) Water Co.—Bonds Due Aug. 1—Option.
—The $500,000 5% bonds of the issue of 1890, due Aug. 1
1910, can be exchanged for the company’s new issue of 4%
(not 5%) bonds, dated May 5 1910, upon presentation at the
office of the Sinking Fund Commission of Louisville or at the
office of the company, 439 S. Third St., Louisville.—
V. 90, p. 1428.
Maryland Coal Co., New York.—New Treasurer.—J. W.
Galloway has been elected Treasurer to succeed William H.
Van Kleeck, resigned.
Compare V. 90, p. 377, 506.
two
Mexican National
Packing Co.—Reorganization Plan.—It
proposed to reorganize this enterprise as an English com¬
pany, incorporated under the English Companies’ Acts, the
new company to be managed by the Packing House Devel¬
opment Co., Ltd., which is controlled and managed by
Messrs. Van den Berghs, with W. & J. Biggerstaff and
Poels & Brewster, whose expert estimates that under their
control, and with new capital, the English company will
is
m
realize the
THE CHRONICLE
following profits: 1st
£125,000; 2nd year,
£175,000; 3d year, £200,000; 4th
£250,000.
The plan, which has the full approval of John W. De Kay
of the Mex. Nat. Packing Co., provides in substance:
Authorized
Capitalization
year,
year,
of
New
Company.
Participating 6% cumulative preference shares of £1 each
Ordinary shares of £1 each
--
£1,700,000
750,000
The preference shares to be preferential as to capital, and, after
payment of a non-cumulatlve dividend of 6% on the ordi¬
nary shares, to be entitled In addition to their 6% cumula¬
tive dividend to rank pari passu with the ordinary shares In
respect to remaining profits.
Second mtge. income debenture stock bearing cumulative Inter¬
est at the rate of 6% per annum, and secured as to capital and
Interest on the whole undertaking, including the rastro In the
City of Mexico and the concessions connected therewith, after
I the 1st M. bonds and before the preference shares, but with
no right of foreclosure for the first five years.
Total Issue
300,000
First mtge. 5% bonds, redeemable In 20 years, and secured by a
first charge upon the whole of the undertaking.
Arrangements
have been made for the Issuance of not exceeding £600,000
bonds, at a price to net the new company 80%, In order to pro¬
vide working capital and to meet the cost of the reorganiza¬
tion.
The remaining £400,000 cannot be Issued except with
the consent of the new company In general meeting.
Total. _ £1,000,000
All debenture and bond holders who assent to the plan will, at the time
of exchange, be paid In cash the Interest on the debentures and bonds held
by them up to the date when the secrulties of the new company are ready
for such exchange.
Terms
of Exchange Offered Assenting Holder.
To Be Exchanged for
2nd M. Deb. Pref.Shares. Com.Shares.
Each £100 of—
.
Rastro debentures
6% gold bonds
Preferred or ordinary
Holders wishing to
securities on or before
bard St.* London, E.
£60
£40
—
£20
shares
£2 10s.
participate In the reorganization should deposit their
July 30 1910 with Glyn, Mills, Currie & Co., 67 LomC.—V. 80, p. 877.
.
1/lir.higra.Ti Stove Co., Detroit.—Preferred Stock.—The com¬
from $1,500,000
to $1,600,000 and will allow its employees to subscribe for
pany has increased its 7% cum. pref. stock
[VOL.
IiXXXXI
[The Mines Co. of America and the El Rayo are paying dividends of 12%
per annum.
The Dolores Co. beginning November last increased its annia
dividend rate from 12% to 18%.—Ed.J
*
Minneapolis General Electric Co— On 7% Basis.—A quar¬
terly dividend of 1M% has been declared on the $2,500,000
common stock, payable
Aug. 1 to holders of record July 15,
comparing with \\i% quarterly (6% yearly) from Nov.
1909 to May 1910 and 2% semi-annually (4% yearly) from
1906 to Aug. 1909.—V. 95, p. 1175.
Nashua Mfg. Co— Notes.—Curtis &
Sanger and Blake
Bros; & Co. are placing $1,000,000 5% one-year notes on a
5% basis. The notes will probably be dated Monday next
and be in large denominations—$25,000 and upwards.’
Capi¬
tal stock, $1,000,000; par, $500.—V. 85, p. 1465.
National Starch Co., New York.—New Securities
Ready.—
Speyer & Co., the depositary, 24-26 Pine St., are now de¬
livering to holders of certificates of deposit for Nat. Starch
Co. debentures and Nat. Starch Mfg. 1st M. 6s, the new
securities, bond scrip and cash payments to which such
holders are entitled under the terms of the plan dated April 8
1910.—V. 90, p. 853, 1175.
National Telephone Co., Wheeling, W. Va.—Receivership
—Judge A. G. Dayton, at Phillippi, West Va., on or about
July 3 appointed W. C. Handlan and J. W. Ewing as re¬
ceivers for the company, on application by Andrew J, How¬
ard of Indiana, who alleges that the Continental Tel. & Tel.
Co. (V. 90, .p 1557, 1427) has acquired $10,000,000 in stock
of the National without consideration.—V. 85,
pi 472,603.
Northwestern Ohio Natural Gas Co.—Exchange of Stock.—
The Ohio Fuel Supply Co. has issued a circular
offering to
give its stock in exchange for Northwestern Natural Gas Co.
stock at the office of the latter, 26 Broadway, on or before
July 15, on the basis of two shares (par $25 each) of Ohio
Fuel Supply Co. for one share ($50 par) of the Northwestern
Co.
Compare Ohio Fuel Supply Co. in V. 91, p. 41.
The Standard Oil Co. has
the new shares.
There is also $1,500,000 common stock, all
outstanding. The pref. stock is redeemable Dec. 16 1931
at par.
Par of all shares $10. Dividends annually Feb. 1.
No bonds.
long controlled the Northwestern, and In recent
Incorporated in Michigan Dec. 16 1871; remonths, it Is supposed, has obtained a large, If not a majority. Interest In
incorporated Dec. 16 1901. Pres., Jeremiah Dwyer; George the
Ohio Fuel Supply Co.
(Compare United Fuel Supply Co., a subsidiary
H. Barbour, Vice-Pres. & Gen. Mgr.; C. A. du Charme, 2d of the Ohio Fuel Supply Co., In V. 90, p. 853.)
Vice-Pres. & Sec.; Treas., E. S. Barbour.—V. 74, p. 155.
Oregon (HI.) Power Co.—Bonds Offered.—Mabee, Tibbetts
it Miller &
Vidor Lumber Co., Galveston, Tex.—Bonds Co., New York, Williamsport, Pa., and Chicago, are offering
Offered.—Clark L. Poole & Co., Chicago, are placing at par at prices to net 5%% income the unsold portion of $185,000
and int. $375,000 1st M. gold 6s, dated April 1 1910; par first mortgage 6% gold bonds, dated July 1 1909.
Author¬
$1,000 and $500 (c*), payable in series each six months as ized issue,-$300,000; in escrow, $115,000; outstanding,
See V. 89, p. 1415.
follows: Oct. 1 1910 to April 1 1914, $12,500 semi-annually; $185,000.
Steams (Ky.) Coal & Lumber Co.—Bonds Offered.—Pea¬
Oct. 1 1914 to April 1 1918, $17,500 s.-a.; Oct. 1 1918 to
April 1 1921, $20,000 s.-a.; Oct. 1 1921, $15,000; but subject body, Houghteling & Co., Chicago, are placing at par and
int. $1,500,000 1st M. 6% serial gold bonds, dated July 1
to call, all or any, on any int. day at 103 and int.; p.& i. (A.&
O.) payable at Central Trust Co. .of Illinois, trustee, Chicago. 1910; due in semi-annual series from July 1 1911 to
Condensed Extracts from Bankers’ Circular.
July 1 1922 (first 3 $50,000; then 10 of $60,000 and finally
A first lien on (1) about 34,400 acres, lying In a solid body, of uncut tim¬
10 of $75,000), but redeemable in reverse of numerical order
ber lands, located In Hardin, Jasper, Orange and Jefferson counties, Texas,
on interest dates at 103 and int.
Par $1,000 and $500 (c*).
heavily timbered with long and short leaf yellow pine; also cypress, oak
and other hardwoods; (2) modern saw mill, 80,000 feet daily capacity,
Prin. and semi-ann. int. payable at First Nat. Bank, Chicago,
planing mill, 200,000 feet daily capacity, brick dry kilns, machine shop,
and First Nat. Bank, N. Y.
electric light, water-works system, lumber sheds, &c., located at tidewater
First Trust & Savings Bank,
In Beaumont, Tex., on Neches River; (3) entire $100,000 capital stock (ex¬
Chicago, trustee. A circular says in brief:
cept $700 directors’ shares) of the Galveston Beaumont & Northeastern
Ry., an unbonded road, 20 miles long, connecting with the Southern Pacific,
Frisco, Santa Fe, Kansas City Southern and Gulf & Inter-State Rys.,
and having three locomotives and 50 cars.
The Darlington & Miller Lumber Co., org. about 1889, Beaumont Saw
Mill Co., Orange Saw Mill Co., Miller & Vidor Saw Mill Co. and Peach River
Lumber Co., all owned by practically the same interests, were during the
past year consolidated Into the Miller & Vidor Lumber Co., paid-in capital
$1,500,000.
The new consolidated company Is one of the largest owners
of standing timber In Texas, and operates four large modern saw mills,
located at Beaumont, Orange, Mllvld and Timber, all In Texas.
Directors:
C. H. Moore (Chairman), A. W. Miller (President) and C. S. Vidor (V.-P.),
Galveston, Tex.; J. G. Berryhlll (V.-P.), Des Moines, la;. W. S. Slagle,
Alton, la.; KUburn Moore, Big Creek, Tex.; S. A. Lincoln, Alton, la.
The
Sec.-Treas. Is B. L. Sparks, Galveston.
Value of Property Covered by This Bond Issue, Estimated at $1,092,010.
Pine timber, 133,502,000 feet at $5 per 1,000
$667,510
Cypress and hardwood timber, 55,400,000 ft. at average of $2 50
per 1,000, $138,500; saw mill at Beaumont, $150,000; 34,400
acres of land, $86,000; railroad, $50,000
286,000
This bond Issue Is for liquidating floating debt.
Authorized Issue, $400,000; present Issue, $375,000.
Redemption sinking fund $3 50 per 1,000
feet for all timber cut.
Mines Co. of America, New York.—Plan Adopted.—The
shareholders at a special meeting held in Augusta, Me., on
June 30 adopted the plan increasing the capital stock from
$2,000,000 to $9,000,000. A circular signed by directors
Jno. Lambert, I. L. Ellwood, William Flemming, H. S.
Black and W. E. Reis and by J. D. Tooker, Secretary, says
in brief Under date of June 18:
for mining and milling their ores and possess ample working
capital.
Both mines have long since passed the experimental stage and are In large
.production.
All the large expenses of development have been paid out
of profits.
Those comparatively small portions developed are producing
large profits; each possesses a large area of virgin ground which, while not
yet explored, is confidently believed to be of exceedingly great value.
Of the proposed Increased capital, approximately $500,000 Is to be held
unissued until required for additional property or other corporate
purposes.
All shareholders are requested to waive any right to subscribe for
any of
the new shares authorized at the meeting.
It will be practically necessary
to change the par value of the shares from $1 to $10 a share, In order to
minimize the expense, clerical work and delays.
Report of Consulting Engineer Geo. A. Schroter, New York, June 10 1910.
ances
Last 6 Mos.
Last 12 Mos
$207,039
$462,152
151,047
246,783
Both properties are In a good state of efficiency and both have large ore
bodies In< sight* as well as large bodies of probable ore.
Each company
has a large area of ground not yet explored in which I confidently believe
that further equally valuable ore bodies will be developed.
My familiarity
With these properties leads me to believe not only that their present rate
of earnings will be maintained, but also that there Is every prospect that
they can be Increased.
I believe that both properties have before them a
brilliant future.
N. Y* office. 111 Broadway.*jaJjrfXdMMAMM&m
El Rayo
Reserved,subject to written approval of Peabody, Houghteling
& Co., for future extensions and improvements,and for acqui¬
sition of additional timber and other properties at not to exceed
50% of actual cash cost and for the construction of additional
railway at not to exceed 75% of the actual cash cost of main
line fully equipped (bonds so reserved shall. If Issued, mature
$100,000 every six months, beginning Jan. 1 1923)
500,000
Valuation of Security, $7,509,242 (Based upon Expert Reports).
Land and timber owned in fee (67,981 acres of land, 18,000 acres
of timber, these 85,981 acres containing 400 million feet of oak,
pine and other timber)
$3,013,197
Coal owned In fee (300 million tons on said 67,981 acres; also
owns 22,000 acres of coal rights, incl. 1,300 acres of
surface)__ 3,000,000
Kentucky & Tennessee Ry. (now 12 miles In length, to be extended
5 miles, making 17-mile line from Stearns on the Queen &
Crescent system Into the coal and lumber tract)
640,143
Coal mines (5 modern mines, daily capacity now 1,500 tons, to
be Increased at once to 2,000 tons)
218,500
Saw mill and equipment at Stearns (dally capacity 75,000 ft.
with town site 509 acres, 143 houses, &c.)._
387,402
_
Working capital
250,000
Average Annual Net Earnings ($275,000),After Com¬
pletion of Additions to Saw Mill, Coal Mines and Railwaytto be
Immediately Provided from Proceeds of these Bonds.
Lumber department
$100,0001 Kentucky & Tennessee Ry__$35,000
Coal department
100,000[Commissary, rents, &c
40,000
These net earnings ($275,000) are after deducting $145,000 for sinking
fund (lumber, $120,000; coal, $25,000), and are based on anaverage annual
output of 20,000,000 feet of lumber and 500,000 tons of coal.
The mtge.
provides a sinking fund of 5 cents per ton on all coal removed, and also a
sinking fund on all timber under a schedule (per 1,000 ft.), which for white
oak is $8; red oak, $5; poplar, $15; chestnut, $2; yellow pine,
$3; white pine,
$7; hemlock, $3; hickory, $5.
The 67,981 acres owned lie in practically a solid body In Wayne County,
Ky., and in Pickett, Scott and Fentress counties, Tenn., being bounded on
the east by the Big South Fork of the Cumberland River, ana all available
to the Queen & Crescent Ry.
This property and the adjoining 18,000
acres, on which the company owns the timber only, are estfmatea to con¬
tain (in million feet):
White oak, 126.7; red oak, 34.7; poplar, 45.5;
chestnut, 41.7; yellow pine, 21.8; white pine, 56.2; hemlock, 42.2; hickory,
6.6; beech, 15.8; ash, 1; also 277,625 railroad ties; 80,380 telegraph
poles; hemlock bark, 19,790 cords; oak bark, 18,600 cords; other forest
Bankers' Estimate of
Your directors have unanimously voted to recommend the Increase of
the capital stock In order to acquire all or the greater part of the stocks
of the Dolores Mines Co. and El Rayo Mines Co.
It is proposed to Issue
•$10 of new stock for each share of Dolores Mines Co. and $7 of new stock
for each share of El Rayo Mines Co.
The Dolores Mine is situated In the
District of Guerrero, the properties of El Rayo Mines Co. near Santa Bar¬
bara, all in the State of Chihuahua, Mexico.
The Issued capital of Dolores
Is 400,000 shares of $5 each; of El Rayo 357,020 shares of $2 each.
Both
companies are free of debt, fully equipped with sufficient mills and appli¬
Net Earnings—
DOlOres
These bonds are guaranteed both as to prin. and int. by endorsement
each bond of Justus S. Stearns, President of the company, whose net
worth in realizable assets, outside of this company. Is approximately $2,500,000, and they are an absolute 1st mtge. upon all property now owned
or hereafter acquired by the company, and
also, through deposit with the
trustee of its entire Issued capital stock and total closed Issue of 1st M.
bonds, upon all the property now and hereafter owned by the Kentucky &
Tennessee Ry. Co.
Disposition of Bonds—Total Authorized Issue, $2,000,000.
Now issued to retire all Indebtedness, extend railway, increase
saw-mill and coal mine equipment and furnish working capital.$l ,500,000
on
Sroducts,
cords.coalThis
entire tract
is underlaid
276,010
300,00,000 tons
of steam
of excellent
quality,
the mainwith
veinsome
averaging
48 to 50 Inches In thickness.
The entire production is now being promptly
absorbed at prices netting $1 10 to $1 35 per ton, f .o.b. cars at mine.
The
Queen & Crescent RR. alone purchases over 200,000 tons of the coal per
annum at $13 5 per ton run of mine.
The cost (entirely drift mining)
should not exceed 80 cts. a ton.
Union Gas & Electric Go., Cincinnati.—Cash Dividends
Resumed on Preferred Stock.—A cash dividend of 6% was
paid June 28
on
The last dividend
or before July 1
on
July 1 1909.
the $5,000,000 6% cumulative pref. stock.
paid was 7
in
6%
interest-bearing scrip, maturing
1914, covering the 15 months from April 1 1908 to
Compare V. 89, p. 230.
July 9
1910.)
THE CHRONICLE
Union Bag & Paper Co., New York.—“Stamped Bonds.”—
Treas. E. S. Coleman, in reply to our inquiry, writes:
‘‘
’
..The total 1st M. bonds issued is $4,201,000.
The amount Issued prior
to the taking effect of the new mortgage tax law was $3,600,000, Nos. 1 to
3,600.
All bonds bearing a higher number than this are stamped and are
free from annual taxes in the State of New York.
The following is stamped
on the bond:
“I, George H. West, Clerk of the County of Saratoga, pur¬
suant to Chapter 340 of the Laws of 1907, do hereby certify that the tax
upon that portion of the principal Indebtedness secured by the mortgage
described in the within bond, which Is represented by said bond, has been
paid.”
[The law requires the payment of
a
recording tax of 34% at time
I of Issue.—Ed.]—V. 90, p. 1106, 912.
Virginia-Carolina Chemical Co.—Dividend Increased.—An
annual dividend of 5% has been declared on the $27,984,400
common stock, payable in quarterly installments of
134%
each on Aug. 15 and Nov. 15 1910 and Feb. and
May 15
1911, to holders of record on the 5th days of those months,
comparing with 3% paid Aug. 1909 out of the earnings of
, the previous year.
-
1896.
1
Previous Dividend Record (Per Cent) of Common Stock.
1897 to Mch, 1902, incl. June 1902 to June 1903. 1904-08.
4 yearly.
5
tNone.
Earnings.—For the
year
ending May 31:
Fiscal
Total
Repairs &
Int. & Pref. Dies.
Year—
Net Profits.
Maim.
Discts.
(8%)
1909-10 ..$6,613,922 $1,277,253 $980,048 $1,440,000
1908-09
5,582,681 1.073,701 970,387 1,440,000
—V. 89, p. 415.
—
1909.
Aug., 3
Common
Dividends.
Balance,
Surplus.
<5%)$1,399,220 $1,517,401
(3%)
839,532 1,259.061
Western Ice Co.—Trustee’s Sale.—The Hudson Trust Co.,
trustee under the general and collateral trust 5%
mortgage
dated Dec. 1 1906, will sell at public auction on Aug. 3, at
12:30 p. m., at the office of Brinkerhoff & Fielder, 15 Ex¬
as
change Place, Jersey City, the following property:
Parcel No. 1—$209,700 pref. and $2,932,300 common stock of the
Knickerbocker Ice Co. and all the right, title and interest of the trustee to
approximately $32,683 cash heretofore paid by the Knickerbocker Ice Co.
as dividends on the $209,700 pref. stock, with all Interest
payable thereon..
Parcel No. 2—Scrip dividend warrant (certificate No. 77) for $26,396,
dated Jan. 1 1908, issued by the Knickerbocker Ice Co. on common stock
with all interest received thereon.—V. 90, p. 452.
Westinghouse Electric & Manufacturing Co.—Payment of
Maturing Notes—Option of Exchange.—Notice is given that
the $6,000,000 collateral trust 6% notes due Aug. 1 will be
paid on presentation at the office of the Mercantile Trust Co.,
120 Broadway, part of the funds having been provided
by
the sale of
a
new
issue of $4,000,000 3-year 6% collateral
due Aug. 1 1913 which have been sold to Kuhn, Loeb
& Co.
Compare V. 90, p. 1558,
The bankers, by advertisement on another page, offer
holders of the maturing notes the privilege of exchanging the
notes
for par, for the new issue.—V. 90, p. 1672.
Wyatt (La.) Lumber Co.—Bonds Offered.—Charles M.
Smith & Co., Chicago, offer at par and int. $150,000 1st M.
6% serial gold bonds dated April 1 1910. A circular reports:
same, par
Interest A. & O. at Cent. Tr. Co. of Illinois, trustee, Chicago.
Bonds
red. on any int. date at 102 and Int.
Par $500 and $1,000 (c*).
Bonds
mature: $15,000 Oct. 1 1911, $7,500 April 1 1912, $7,500 Oct. 1 1912; there¬
after $12,000 semi-ann.
Prin. and Int. guaranteed unconditionally by
A. H. Henderson and G. E. Henderson of Wyatt, La.
Company org. in
1903.
Present financial statement:
Capital stock, $500,000; surplus,
$147,235; bonds authorized, $250,000; less bonds reserved (issuable under
careful restrictions for additional timber lands), $100,000; bonds outstand¬
ing, $150,000; a 1st M. on the manufacturing plant, capacity 15,000,000 ft.
per annum, and on 83,050,000 ft. of yellow pine, 14,950,000 ft. of white
oak and 26,632,000 ft. of other hardwoods, all
virgin timber, in Sabine
Parish, La. Two-thirds of the 23,629 acres is owned in fee simple; the re¬
mainder under timber deeds.
The proceeds of bonds outstanding will be
used to pay floating debt
(April 30 1910 bills payable, $123,226; accounts
payable, $30,789). Sinking fund, $3 50 per 1,000 ft. of pine and white oak,
according to estimates on file; after removal of timber, land may be released
on payment of $3 50 per acre to
sinking fund.
—Dominick &
Dominick, 115 Broadway, call attention by
6% pref. stock of the International Nickel
Co., the well-known company engaged in mining, smelting
and refining of nickel ore and manufacturing its by-products,
&c.f and “the only producer of what is known as Monel
Metal, a natural non-corrosive alloy of nickel and copper
produced from the company's Canadian ores, combining the
high tensile strength of steel with the ductility of copper,"
and therefore extensively used for
propellers, roofing, &c.
—The July market letter of Spencer Trask & Co. gives an
interesting review of the financial situation as bearing on the
market for securities.
The bankers, referring to the steady
demand from private individuals for bonds of well-secured
industrial and public service corporations that net 5%,
express their judgment that the demand for these bonds is
likely to show greater activity in the coming month, owing
to the large dividend and interest disbursements, and also
for the reason that the small investor shows a growing incli¬
nation for this form of investing his
savings, as he is no longer
satisfied with 3)4 to 4%.
A bond circular describing bonds
of this class yielding 5 to 6% will be mailed on request.
—Messrs. Thompson, Towle & Co., 25 Broad St., N. Y.,
and 50 Congress St.,
Boston, have issued the second number
of their booklet of financial information
regarding the prin¬
cipal railroad, street railway, mining and industrial stocks.
The pamphlet gives in convenient form a record of the
high
and low prices for 1909 and
1908, dividends paid during same
period and for 6 months of 1910, and other miscellaneous
circular to the
w99
IIxjc (&ammzxtml ’Qimts.
COMMERCIAL EPITOME.
Friday Night, July 8 1910.
A confident tone is still noticeable in business
circles,
though the drought at the Northwest and conflicting reports
in regard to the cotton crop in the eastern section of the belt
have had
Stocks
a
tendency to restrict trade in
of Merchandise in New York.
Coffee, Brazil
Coffee, Java
Coffee, other
Sugar
July 1
1910.
June 1
1910.
July 1
1909.
32,540
313,350
58,500
24,640
102,175
4,243
1,262
55,300
3,114,480
39,029
339,786
42,000
17,633
250,589
3,543
1,539
51,200
39,376
406,528
53,328
13,200
170,286
5,431
—
Flour
443
33,000
the
spot has declined, owing to weakness in
hogs, larger offerings and dulness of trade. Prime
Western
Middle Western 12.25c. and City steam
ll%c. Refined lard has also been dull and weaker. Conti¬
nent 12.85c., South America 13.85c. and Brazil in
kegs
14.85c.
The speculation in lard futures here has been
quiet.
on
live
At the West the market has been active.
Prices have been
somewhat irregular, but in the main the trend has been
downward.
Shorts have been the
principal buyers.
DAILY CLOSING PRICES OF LARD FUTURES IN NEW
YORK.
Sat.
Mon, Tues.
Wed.
Thurs.
Fri.
July delivery—
HoliHoli- 12.10
12.05
12.00
12.05
September delivery
day.
12.38
day. 12.35
12.30
12.22
DAILY CLOSING PRICES OF LARD
Sat.
July delivery
September delivery
PORK
on
Holiday.
the spot
_
FUTURES IN
Mon. Tues.
Holi- 12.07)4
day. 12.10
Wed.
CHICAGO.
Thurs.
.
Fri.
12.00
12.02H 11.80
12.02)3 12.02)3 11.92)4
has been quiet and steady.
Mess $25@
Beef
has been dull but firm, with supplies small; mess
$15@$16;
packet $16@$17; family $19 50 and extra India mess $30.
Cut meats have been quiet and steady; pickled hams,
regular,
15)4@16c ; pickled bellies, clear, 16@18)4c. and pickled
ribs 1534@17)4c.
Tallow has been quiet and steady; City
6^c. Stearines have declined with trade active at the lower
prices; oleo 9%@10c.; lard 14c. : Butter quiet and steady;
creamery extras 28)4@28^c. Cheese quiet and firmer;
State, whole milk, colored, fancy, 15c.; white, 14%c. Eggs
have been quiet and easier; Western firsts 17@18c.
OIL.—Linseed has been firm, owing to an advance in
seed quotations.
Trade has been quiet. City, raw, Ameri¬
can seed, 79@80c.; boiled
80@81c.; aud Calcutta, raw, 90c.
Cottonseed has been quiet but firmer; winter 8.35@9c.;
summer white 8.20@8.75c.
Lard quiet and firm; prime
$1@$1.04; No. 1 extra 62@63c. Cocoanut quiet and
steady; Cochin 10@10)4c.; Ceylon 9@9)4c. Olive quiet
and steady at 78@80c.
Cod has been firm and active;
domestic 40@42c.; Newfoundland 43@45c.
COFFEE on the spot has been firm with a moderate de¬
mand for Santos.
Rio No. 7, 8^@8)4c.; Santos No. 4,
9)4@9Me. West India growths have* been quiet and
steady; fair to good Cucuta 9%@1034<l The speculation
$25 50, clear $24 50@$26 and family $26@$26 50.
.
in future contracts has been active at
moderate advance in
a
Erices.
Stimulating
and strengthening
factors
etter cables
from Europe,
firmness
the
spot have
here, been
light
on
speculative offerings and support from leading trade interests.
Closing prices were as follows:
July
August
September
October
6.80c.
6.85c.
6.95c.
6.90c.
November
_6.90c. March
December
6.95c.
January
February
6.97c. May
6.98c. June
April
7.00c.
7.01c.
7.04c.
_7.05c.
SUGAR.—Raw has been quiet and firmer. Centrifugal,
96-degrees test, 4.33c.; muscovado, 89-degrees test, 3.83c.;
molasses,5 89-degrees test, 3.58c. Refined has been quiet
and firm.
Granulated 5.10@5.15c. Teas have been in fair
demand and generally firm.
Spices have been moderately
active and firm.
Wool dull and easy.
Hops dull and steady.
PETROLEUM.—Refined
steady.
Export trade good;
domestic dull.
Refined barrels 7.65c.; bulk 4.15c.; cases
10.05c.
Gasoline has been in good demand and steady;
86-degrees in 100-gallon drums 18%c.; drums $8 50 extra.
Naphtha, has been in fair demand and steady; 73@76
degrees in 100-gallon drums 16%c.; drums $8 50 extra.
Spirits of turpentine has been more active and higher at 67c.
Rosin has been moderately active at an
advance; common to
good strained $5 30.
TOBACCO.—Sales of domestic leaf have been limited to
lots, as manufacturers of cigars have continued to
report trade quiet. Prices, however, have ruled firm.
Supplies are moderate and crop reports from Wisconsin
data.
small
—George R. Randel, for the past ten years connected with
the credit department of the National Park Bank of this
city,
has severed his connection with that institution to become
Manager of the credit department of George H. Burr & Co.,
bankers and* commercial
paper dealers.
—A, list of securities for July investments yielding from
have been unfavorable.
Sumatra and Havana have been
in moderate demand and firm.
COPPER has been quiet and steady; Lake 12.60@12%c.;
4.20% to 6% is advertised on another page by Trowbridge
& Niver Co., Chicago, and to which the attention of investors
is invited.
Special circulars will be sent on request.
,
2,850,617
Manila hemp
Sisal hemp
LARD
directions.
2,617,133
*
Hides
Cotton
some
electrolytic 12)4@ 12^gc.;...casting 12@12^c. Lead quiet
and easier at 4v35@4*45c.
Spelter quiet and isteady at
5.15@5,60c. Tin quiet .and easy; spot 32.37 )4c- Iron
has been quiet,and steady; No. 1 Northern $16 25@$16 75
No. 2 Southern $15 75@$16 25.
•••
100
THE CHRONICLE
COTTON.
On
July 8 at—
Friday Night, July 8 1910.
THE MOVEMENT OF THE CROP
as
indicated by our
telegrams from the South to-night is given below. For the
ending this evening the total receipts have reached
21,571 bales, against 22,879 bales last week and 22,361
bales the previous week, making the total receipts since
Sept. 1 1909 7,128,262 bales, against 9,721,704 bales
for the same period of 1908-09, showing a decrease since
Sept. 1 1909 of 2,593,442 bales.
week
New Orleans.
Galveston
Savannah
Charleston.
Mobile
Norfolk
New York
Other ports
Receipts at—
Sat.
Mon.
109
Tues.
514
'
531
789
3,351
85
5,799
““28
17
728
2
25
728
329
443
215
2 45
1,341
2,370
8
556
3
1,892
2,567
2
627
100
Corp. Chrlstl, Ac
^
New Orleans.___
Gulfport
495
1,079
"109
148
“
Mobile
Pensacola
Jacksonville. &c.
Charleston
108
Georgetown
Wilmington
305
10
462
1,860
354
170
102
855
2
1,616
14
1
N’port News, Ac
New York
Boston
Baltimore
—
___
Totals this week
50
—
1,659
2,417
The following shows
since Sept. 11909, and
1,367
1909-10.
Galveston
Port Arthur
_
This
Week.
6,237
144
261
—
50
4,949
21,571
I
Since Sep
1 1908.
1909.
1910.
23,685
17,919
61,301
81,837
3,234
8,782
137,810
39,490
1,326,917
229,426
214,971
1,576
312,453
509,282
18,789
28,495
14,058
78,613
1,896
15,702
3,906
3,768
23,942
21,571 7,128,262
19,171 9,721,704
New Orleans
5,799 1,281,846
Gulfport
728
329
_
Jacksonville, Ac
125
Savannah
Brunswick
Charleston
2,370
2,567
Georgetown
Wilmington
200
308
Norfolk
N’port News, Ac.
3,313
New York
2,064
Boston
144
261
50
Baltimore
Philadelphia
8,992
243^251
371
3,753
1,211
102
7,722
8,697
94,509
3,727
3,252
1,021
160,542
3,777
6,343
2,563
223,038
318,628
In order that
we
comparison may be made with other years,
give below the totals at leading ports for six seasons:
Receipts at—
1910.
Galveston
Pt. Arthur, Ac.
New Orleans.
Mobile
Savannah
Brunswick
Charleston, Ac
1909.
3,213
1908.
7,781
100
5,799
329
2,370
1907.
14,955
1906.
3,755
19,799
37
818
5,216
1,011
4,791
11,700
2,571
22,447
13
678
809
2,516
1,526
2.921
2,373
6,441
13,478
29
7,900
1,253
3,251
4,573
460
488
42
2,767
1905.
4,157
6,272
1,017
1,479
112
2,262
Wilmington..
Norfolk
N’port N., Ac
All others
308
133
17
3,313
1,472
1,737
2,091
3,372
274
726
1,278
283
746
1,436
155
594
Total this wk_
21,571
19,171
33,723
13,787
27,440
81,598
....
798
Since Sept. 1. 7,128,262 9,721,704 8,145,308 9,626,645 7,630,752 9,573,639
The exports for the week ending this evening reach a total
of 24,866 bales, of which 10,744 were to Great Britain,
4,083 tb France and 9,839 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1909:
Week
ending July
8 1910.
From Sept. 1 1909 to July
Exported to—
Exported to—
Exports
from—
Great
Conti¬
Britain. Fr'nce nent.
Galveston
Port Arthur
....
....
Gulfport
Total.
_
166
Corp.Chris.,Ac.
New Orleans..
Mobile
Pensacola
Great
Britain.
-
4,200
-
...
-
-
-
166
5,934
.
....
....
519
....
....
-
-
-
-
.
...
1,074
.....
Savannah
Brunswick....
Charleston....
.
_
.
-
-
1,074
519
.
....
....
Wilmington...
.
...
.
Norfolk
-
...
Newport News
New York....
Boston
5,997 4,083
6,623
16,703
308
336
28
Baltimore
....
Philadelphia..
....
Portland, Me..
San Francisco.
Seattle
Tacoma
Portland, Ore.
Pembina
Detroit
Total
Total 1908-09.
...
....
....
-
-
-
....
569,356
39,348
48,950
7,818
240,311
87,045
16,901
100,690
4,863
187,538
74,601
54,674
83,99i
5,496
15,700
317,992 65,792
97,609
18,463
7,896
45,281
"266
....
_
10,744
....
....
Total.
957,520 2,050,774
98,100 142,381
16,975
16,975
396,990 1,153,884
40,942
154,891
40,161
143,785
1,074
8,892
446,907 771,209
99,041
191,582
101,095 117,996
182,205 298,595
1,421
6,284
156,357
10,955
31,004
16,947
540,141
108,564
57,363
62,228
59,097
28,665
4,404
59,097
28,665
4,404
1908.
Leaving
Total.
1.211
2,080
Stock.
11,578
3,950
49,723
19,735
1,500
6,317
6,000
225
15.702
3,768
1,734
1,405
88,509
12,892
29,570
45,109
57,493
193,468
273,519
186,655
....
....
1,500
6,317
5,666
150
Total 1910..
Total 1909..
.
6,495
9,148
9,379
200
75
800
—
1,428
8,988
5,169
3,670
9,980
21,570
...
—
_
_
-
6,869
8,682
5,036
11,108
8,311
16,339
Speculation in cotton for future delivery has been quiet
prices have been confined within a com¬
paratively narrow range. The tendency, however, has been
upward. Many regard current prices as unduly high, but
th e weather at the South during the week has been of such a
nature as to induce buying rather than selling.
Rains have
continued in many sections of the eastern half of the cotton
belt, while in Texas the precipitation has been outside of
and fluctuations in
the area where it is claimed to be needed the most.
These
conditions are said to have caused deterioration in the condi¬
tion of the plant, though the belief of many conservative
members of the trade is that no irreparable damage has oc¬
curred.
But nervous shorts have in some cases covered, and
commission houses have at times purchased for local and
Southern account.
Many reports have claimed that the
fields are badly in need of cultivation.
The plant, too, is still
reported late, and many take the ground that this exposes
it to an unusual degree to weevil and frost damage.
The
certificated stock here has latterly decreased, and it is
stated that further shipments will be made from the local
200
600
200
600
4,083
9,839 24,866 2,336.469 891,808 2,690.660 5,918,937
24,059 12,867
3,138 40,064 3,482,938 1024671 3,731,226 8,238,835
Leading New Orleans bulls have given
open support at times. On the other hand, recessions have
occurred at times on liquidation. The market is so narrow
that it easily becomes overbought.
There is little outside
interest in the speculation.
The next-crop months are al¬
ready so high as to discourage public participation in the
trading, despite the adverse weather in parts of the South
and the. claims of some that the indications no longer
point
to a crop of the requisite size for the needs of the world’s
spinners, a view, by the way, in which those in the trade do
not concur. ThejTexas State report for July said that the
outlook on the 1st inst. was good all over the State,
except
where the weevil is damaging, and that the
general condition
was from 25% to 75% better than at the same time last
year.
Many private reports from that State have been of an excel¬
lent tenor. From other parts of the South very favorable
reports have been received by various houses. Trade reports
have been pessimistic.
Curtailment of production is said
to be increasing both North and South.
Charlotte, N. C.,
advices state that curtailment is the most drastic in many
years.
Continental and English spinners, it is stated, have
been re-selling in Liverpool. The spot sales there have in¬
creased somewhat at times, but it is said that this is traceable
to
purchases for shipment to this side for delivery on con¬
tracts.
Liverpool has sold futures here. New Orleans has
also sold.
Wall Street houses and firms with Western con¬
nections have liquidated.
San Antonio, Tex., has offered
50 bales of new cotton for July shipment.
Many believe
there will be plenty of cotton to meet the reduced
consump¬
tion.
The spot demand at the South has been small.
To¬
day prices advanced on continued wet weather in the Eastern
belt, bullish crop reports, buying by bulls and spot interests,
and covering.
Spot cotton here has been quieter. Mid¬
dling uplands closed at 15.40c., an advance for the week of
5 points.
The rates on and off middling, as established Nov. 17 1909
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Fair
3C.1.50 oniMiddling
Strict mid. fair
1.30 on|Strict low. mid
Strict good mid
Good middling
Strict middling
c_
Basls|Good mid. tinged.c Even
0.25 off | Strict mid. tinged
0.15 off
0.60 off|Mlddllng tlnged-.-0.25 off
1.05 off I Strict low.Mid.ting.0.60 off
1.75 off | Low mid. tinged ..1.50 off
-.1.10 on|Low middling
0.66 on | Strict good ord
0.44 on | Good ordinary
0.22 on|Str!ct g’d mid. tgd.0.35 oniMiddling stained.-.0.75 off
The official quotation for middling
upland cotton in the
New York market each day for the past week has been:
July 2 to July 8—
Sat.
Middling uplands.
H.
Mon.
Tues.
H.
Wed.
Thurs.
Fri.
15.45
15.35
15 .35
15.40
NEW YORK QUOTATIONS FOR 32 YEARS.
The quotations on middling upland at New York on
July 8 for each of the past 32 years have been as follows:
1910.C
1909
1908
1907
1906
1905.__
1904
1903
...15.40
...12.60
...11.20
...13.40
1902.c
1901
1900
1899
...10.80 1898
...10.90 1897
...11.25 1896..
...11.60 1895
9.25 1894.C.
8.75 1893...
.10.12 1892...
6.19 1891...
6.19 1890.._
7.88 1889._
7.44 1888-..
7.19 1887.._
.
.
.
_
...
MARKET AND
Spot Market
—
In addition to above exports, our£telegrams to-night also
givefus the following amounts^pf cotton on shipboard, not
6,869
_
Middling fair
427
-
....
nent.
427
....
“200
-
715,532 377,722
25,883 18,398
-
1,734
8 1910
Conti¬
France.
1,525
1,870
Coast¬
wise.
____
supply to Europe.
Stock.
7,781 3,583,237
152,759
152,203
6,272 2,070,096
20,221
1,017
377,452
155,149
18
29,748
1,479 1,490,295
319,847
83
209,692
50
2,634
17
409,104
587,866
1,472
274
17,709
19,101
192
18,641
212
99,591
304
6,359
72|058
Total
4,942
This
Week.
3,213 2,465,958
100
142,381
._
_
—
1908-09.
Since Sep
1 1909.
Corp. Christ, Ac
_
—
2,064
the week’s total receipts, the total
the stocks to-night, compared with
last year:
Receipts to
July 8.
•
3,313
29
13
261
13
.
Philadelphia.
.
200
308
200
_
Norfolk
Mobile
Pensacola
_
M
125
125
126
Savannah
Brunswick
3,213
674
548
100
837
Port Arthur
Other
Foreign
Total.
Fri.
Thurs.
Wed.
Ger¬
many.
628
1,345
_
LXXXXI
Shipboard, Not Cleared for—
Great
Britain. France
Total
Galveston
[VOL.
Closed.
.
.
7.25
8.00
7.31
8.38
11.94
11.19
10.31
10.94
_
Total
9.50
...10.50
...11.06
...10.12
...12.94
...
__.11.19
...11.81
...12.25
Futures
Market
Closed.
Sales of Spot and Contract.
Con-
sum’n.
Con¬
tract.
Total.
HOLIDAY.
HOLIDAY.
.
__
1885
1884
1883
1882
1881
1880
1879
SALES AT NEW YORK.
Spot.
Saturday.
Monday
Tuesday
Wednesday
Thursday
Friday
1886.C..
Quiet 10 pts adv
Steady
Quiet 10 pts dec
B’ly steady..
Firm
Quiet
Quiet 5 pts adv.... Firm
4,997
“386
1,965
7,348
06M*«aD o o o
11,897
1,700
1,586
5,765
13,600 20,948
July 9
1910.1
THE CHRONICLE
FUTURES.—The highest, lowest and closing prices at
New York the past week have been as follows:
*51
June— May— April- March
c*
&Q!J QSd •?QS
Clo Ra Clo Ra Clo Ra Clo Ra Clo RaP |
cop
s*
1Cn P
■
P$
or?
CO P
1
co p
I W
$ 1 or?PS
tr? w
a
P$
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0
■
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o£
p$
IP?
p
TO
o£
CO P
1
tr?
Nov.— Clo Ra uct. Sept.- Clo Ra Angus Clo Ra July—
I
C0 P
P'S
Ot? "
of
cn
P
i
gs
TO
09 P
BSw
IP?
AT THE INTERIOR TOWNS the movement—that
is,
the receipts for the week and since
Sept. 1, the shipments
for the week and the stocks to-night, and the same
items for
the corresponding period for the previous
year—is set out
in detail below.
7-co S3 1
IgS
tog
towns
*
JS
1
II
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I
II
II
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1
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SUPPLY
,
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1910.
1909.
7,000
44,000
Total Great Britain stock
Stock at Hamburg.
Stock at Bremen
Stock at Havre
Stock at MarseillesStock at Barcelona
Stock at Genoa
Stock at Trieste
__
—.—
Total Continental stocks
551,000 1,138,000
14,000
12,000
160,000
303,000
147,000
239,000
2,000
3,000
11,000
32,000
20,000
32,000'
9,000
7,000
363,000
Total European stocks
India cotton afloat for Europe.
American cotton afloat for Europe
Egypt, Brazil, &c.,afloat for Europe
Stock In Alexandria, Egypt..
Stock In Bombay, India
Stock In U. S. ports
Stock In U. S. Interior towns
U. S. exports to-day
_
_
__
7,000
75,000
628,000
1
CM
IS Co
“
Mis p Louisan Kentucky,
“
“
“
“
“
Georgia
“
“
net .
Towns.
Arkans Alabm
“
“
.
i
1
t
Otl
i
©1
tol
lt*l
.
i
i
i
ii
1
1
-41
©i
1
i
i
i
to 1
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1
1
1
H*i
1
i
W1
©1
©1
1
©1
i
1
&91
©I
i
5*I
I
tol
-41
tol
t-»i
09
t—* i
toi
-4 to to i
tol
©toon
5*1
1
1
i
i
i
i
©i
i
i
to.i
i
001
©i
-4 00 to to
i
oi
to it* oo to to ® to to 4*
to
00©
to to 09M to to to
i
tototo toto toi-ttotototoi
©
i
toi
i
to to h* 0*4 to *4 oo too ooi
to
it* h*
00
8.
190.
4*
i
to
H*l
.
to © I-100
Wek.
ii
1—* 1—*
4*
to
h*
O © to to to to to
© ** © © 4* *■* to to to
i
.1
i
i
i
i
July Stocks
1-1
to h* to to to
it* *4 © to to
R
e
c
i
p
t
s
.
86,10 2,517 18,628 96,57 25,042 6,769 21,879 972, 93 20. 52 163,2 9 16,14 673, 26 0,1 5 67,123 53, 60 106, 74 1 8,069 74,213 58, 91 91,27 8,683 56, 34 65,12 61, 41 354,12 142, 30 1 2,0 25,361 207, 10 93,043 1 0,86 164,827 21, 53 Season. Movemnt
to
H*
Co
i
5*!
i
•
*41
i
i
t\5
i
©i
i
i
Co
i
toi
i
i
to
561,000
July
8
|
to
914,000 1,766,000 1,187.000 1,710,000
123,000
76,000
90,000
204,000
130,340
155,173
108,250
88,953
13,000
29,000
29,000
28,000
72,000
101,000
106,000
63,000
656,000
369,000
471,000
719,000
223,038
318,628
244,148
319,087
131,458
151,588
165,776
137.969
3,881
8,796
3,426
»-»
ooMto©i-*©totoH*©©©toit*oo©it*Mit*oetoit*to©totoi-»©
1
607,000 1,149,000
24.000
14,000
323,000
261,000
142,000
188,000
5,000
3,000
39,000
21,000
27,000
40,000
20,000
34,000
i
to tooo © to ©oo
i.
i
it* it* 1^ 091
it*|_* 1—. to i
i-»b# to^i b> to ©m to Vi
9o © ot © it* i-1 to to oo to to©*4 to m to-j
to**®
to h* oo ©to
toi-1 to to*—1
,i
.
i
**£*!-*©
to
Wek. ments. Ship¬
,
1
-41
oo i
tol
1
to it
.
rr
l-M
i
i
1907.
O900**Wto
1
1
534,000 1,063,000
8,000
13,000
65,000
73,000
it*
09I-.I-*
i
i-t
1
4*i
ooi
i
i
i
i
§
Wek.
i
*4 to 1—*
it* OI to to 1
to 09 001-11
tol
oe
Ot
i
i
to
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i—* i—* i—* i
w
1©
ii
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to
S.3.
it*
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i
i
to 1
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13,458
g-
i
.i
it* to to 1
© OR 091
•
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e
c
i
p
t
s
.
80,598 1,693 21 20,926 56,856 23,618 8,606 13,640 76 ,329 13,9 1 14 ,9 7 14,2 7 437, 41,7 9 4 .568 14,903 69, 70 79,851 64,1 0 3 ,250 91,643 8,430 42,916 53, 83 56.568 359, 83 13 ,745 104,58 23,619 176,5 57,26 10 , 71 18,702 17,205 Movemnt
©1
it*
580,000
._
s
I
■4
1908.
1
1
tS5
1
1
! r1! ! !
•4
to
»
“
**
**
ot
HA
lt*l
a*
-4
it*
to
it*
1
i
©
1 HA
©
“
“
§
©
to
1
“
&
D9
Total visible suppiy,
,.2,262,836 2,970,270 2,409,970 3,273,435
Of the above, totals of American and
other descriptions are as follows:
American—
Liverpool stock
bales. 407.000
962,000
425,000
927,000
Manchester stock..
34,000
60,000
54,000
63,000
Continental stock
306,000
575,000
494,000
472,000
American afloat for Europe
130,340
155,173
108,250
88,953
U. S. port stocks
223,038
318,628
319,087
244,148
U. S. Interior stocks
131,458
151,588
165,776
137,969
U. S. exports to-day
3,881
8,796
3,426
.
©
m
COTTON
500.000 1,056,000
i
>-*
it*
1 CD
“
Carolin Carolin
ea
to-night, as
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 Thurs¬
day evening. But to make the total the complete fig¬
ures for to-night
(Friday), we add the item of exports
from the United States, including in
it the exports of Friday
only.
.bales.
i.iit
1
©1
1
1
I
•—* 119
CD
to
made up
July 8—
Stock at Liverpool
Stock at London
Stock at Manchester
i
to
to
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to to
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1
Houstn, Clarksvie, Brenham, Nashvile, Memphis, Grenwod, Cincat, Raleigh, Louis, CitYy,azo Vicksburg, Natchez, Meridan, Grenwod, Grenvil, Columbs, Shrevpot, Louisvle, Rome, Macon, Columbs, Augsta, Atlan, Athens, Albany, LRock,itle Helna, Selma, Eufal,
Montgmery,
Grove,
33
*2,
t-)W
St.
Total, Paris, Honey Dals,
S.K
>o
1 1
101
*rr
i
,
15,8
Ot
!
“4'
l
i
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toi
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i
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rr
.
■4totoWH©i*H»o©o©H‘©to»MOO«©i
to
,
1
r*
4*4*©toi-*to4*to4*«totototo
to
toto-ltoi
to © 4* to ife. I-* to © 4* 00 «4 © 00 © © ® to to © h* i-* © i
4* to
to
H*
to
to
to
to to to to Co to to
July
Wek. ments. Ship¬
.M
*im
m
to to Cl ® to
OHtoOoto
9
190.
H*
to
i-^4 4*1-* to to 4* to ©to CD 4* to
4*
to toi-* i-i
toto
to
9.
-4 © 4* © *-*00 to 4* to toto
©®!-**4®©-ltotOto00©totoM-J*4 tot-*004*©to4*4*©toto
Oo*-*oototo©i-*i-*oo©4*oooo«jtoi-*©oooo4*oooto4*tototo
July Stocks
The above totals show that the interior stocks have de¬
creased during the week 27,934 bales and are
to-night 20,130
bales less than at the same time last
year.
The receipts
at all the towns have been 54 bales more than
the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.—We give below a statement
showing
the overland movement for the week and since
made up from telegraphic reports
Friday night.
for the week and since
Sept. 1 in the last two
follows:
1909—10
Since
Week.
Sept. 1.
6,656
432,463
2,487
179,329
19,915
3,710
120,208
218
46,475
July 8—
Shipped—
Via
Via
Via
Via
Via
Via
Via
St. Louis
Cairo
Rock Island.
Louisville
Cincinnati
Virginia ports
487
763
other routes..
„„.
Leaving total net overland*
years are as
1908-09
Since
7,521
1,054
*
134,450
153,534
616
267
988
1,267
Sept. 1.
660,225
303,528
30,524
83,933
48,777
184,007
275,590
11,713 1,586,584
708
143,692
47,574
70,216
1,328
2,688
6,134
255,327
4,724
243.798
8,187
831,047
6,989
H* bo 4* to •4 00 0>
3,292
Total to be deducted
as
The results
Week.
Total gross overland
14,321 1,086,374
Deduct Shipments—
Overland to N. Y., Boston, &c__ 2,519
123,062
Between Interior towns
323
62,049
Inland, &c., from South, Ac
Sept. 1,
*
52,532
.
.
.
.
—
Total American
East
Indian, Brazil, Ac.—
Liverpool stock
93,000
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, Ac., afloat
Stock In Alexandria, Egypt
Stock In Bombay, India
Total East India, &c
Total American
i
Total visible supply
.1,231,836
1,231,836 2,226,270 1,499,970 2,011,435
7,000
10,000
57,000
123,000
13,000
72,000
656,000
94,000
7,000
15,000
53,000
76,000
29,000
101,000
369,000
109,000
8,000
11,000
86,000
90,000
29,000
106,000
471,000
140,000
13,000
10,000
89,000
204,000
28,000
63,000
719,000
7.92d.
15.40c.
12 Hd.
ll.OOd.
7d.
7d.
6.75d.
12.70c.
9^d.
8.25d.
6 %d.
5^d.
6.34d.
11.20c.
8 7-16d.
9.15d.
5 9-16d.
5 3-16d.
ran
6tfd.
5)*d.
^or *910 show
a
decrease from last week
187,919 bales, and a loss of 707,434 bales from 1909,
a decrease of
147,134 bales from 1008, andaloss of l,010,59f
bales
to
Lanaua.
The foregoing shows the week’s net overland movemenl
this year has been 8,187 bales, against
6,989 bales for the weel
last year, and that for the season to date the
aggregate nel
overland exhibits a decrease from a year
ago of 511,739 bales
1909—10—!
-1908-09In Sight and Spinners’
•
Since
Takings.
Week.
Receipts at ports to July 8
21,571
Net overland to July 8
8,187
Southern consumption to July 8_. 40,000
Since
Sept. 1.
7,128,262
831,047
2,173,000
Week.
19.171
6,989
52,000
69,758 10,132,309
.
.*27,934
57,123
10,180,604
L
*
21,758
Sept. 1
9,721,70^
1,342,78<
2,180.001
78,160 13,244,490
*21,037
37,582
48,295
41,824
..
7.18d,
13.05c
11 7-16d.
11.50d.
bales.
uy
2,262,836 2,970,270 2,409,970 3,273,435
Continental imports for the past
week have been 52,001
from 1907.
jluuvciucut
1,031,000
744,000
910,000 1,262,000
1,231,836 2,220,270 1,499,970 2,011.435
Middling Upland, £|V(
ilverppol
Middling Upland, New
ork
Egypt, Good Brown, Liverpool
Peruvian, Rough Good, Liverpool
Broach, Fine, Liverpool
Tlnnevelly, Good, Liverpool.”!
of
xixuiuuiug
13,282,072
2,095,543
26,898
2,696,380
Decrease during week.
Movement into sight in
Week—
1908—July
1907—July
1906—July
1905—July
previous
years:
Since
Bales.
10
12
13
14
71,825
52,354
67,306
124,746
Sept. 1—
1907—08—-July
1906-07—July
1905—06—July
1904-05—July
10
12
13
14
Bales.
11,096,427
13,141,694
10,706,484
12,868,416
QUOTATIONS FOR MIDDLING.COTTON.ATi,OTHER
are the
closing quotations of middling
cotton at Southern and
other^principal cotton marketsAfor
eaehjiay of the week.
MARKETS.—Below
TUB! CfiftONlCLE
[VOL.
LXXXS
V 'll
.
eliding
July 8.
.
Galveston
New Orleans
Mobile
Savannah
Charleston.
</
■
•
r
;
1
1,
t
t
-
.
..
Monday. Tuesday. Wed’day. Thursd'y
Sat’day.
14
14
14
14
.v
H
15-16
H
K
14*
14 H
14 15-16
14 Yi
14 K
14 15-16
14 H
14 %
Fridau.
14 13-16
14 15-16
hh
1
*
Wilmington
—
Norfolk
Boston
Baltimore
Philadelphia
.
Closing Quotations for Middling Cotton on
HOLIDAY.
HOLIDAY.
15 X
15.35
15 %
15.70
...
Memphis
14 K
14 K
14 K
St. Louis
;J:_
Houston
Little Rock_„_
14*
-
-
15*
15.35
15 H
15 H
15 H
15.45
15.35
15 %
15.60
15 H
15.60
15 U
1 R U
14
14
14
14
14 *
14 *
14 %
15.65
‘
15 *
14 15-16
14 *
14 X
14 K
14*
%
%
H
X
NEW ORLEANS OPTION MARKETS—The highest,
lowest and closing quotations for leading options in the New
week have been as follows:
Monday, Tuesday, Wed’day, Thursd’y, Friday,
July 8.
July 7.
July 4.
July 6.
July 5.
Sat'day,
July 2.
July—
Range
14.98-.20 14.92-.10 14.88-.93 14.85-.99
15.03-.04 14.93-.95 14.93-.94 14.93-.97
Closing
August-tRange
Closing
September—
Range
Closing
14.32-.39 14.18-.2S 14.13-.26 14.27-.31
14.32-.33 14.16-.18 14.25-.26 14.30-.32
13-17-.20
@ — 13.03-.17 13.16 —
13.15-.17 13.03-.05 13.16-.18 13.19-.21
—
October—
'
12.63-.70 12.57-.60 12.56-.68 12.64-.76
12.66-.67 12.57-.58 12.67-.68 12.72-.73
Range
Closing
November—
Ranpf
-
®
55
12.58-ieO
Closing-
—
—
@
'
—
12.49-.51 12.45-. 56 12.65-.67
December—
Range
ClosingJanuary—
Range
HOLI-
HOLIDAY.
DAY.
Closing
12.51-.60 12.45-.57 12.47-.58 12.55-.65
12.55-.56 12.46-.47 12.56-.57 12.62-.63
1
12.56- 63 12 47-.61 12.47-.58 12 63-.65
12.58-.60 12.48-.49 12.58-.59 12.64-65
March—
Range
Closing
—
@
—
—
12.64-
@
12.66-.67
@ —
12.66-.68 12.73-.75
—
—
12.53-
Tone—
r
Spit
Options
*
Firm.
Steady.
Quiet.
Steady.
of
an inch.
The thermometer has ranged from 68 to 100,
averaging 84.
Taylor, Texas.—There has been no rain during the week.
Average thermometer 83, highest 98, lowest 68.
Weatherford, Texas.—There has been no rain the past
week.
The thermometer has averaged 84, the highest being
99 and the lowest 69.
‘
Orleans cotton market for the past
San Antonio, Texas.—We have had iig% rain on two days
during the week, the rainfall reaching forty-four hundredths
Quiet.
Easy.
Very st’y Barely st
Ardmore, Oklahoma.—There has been rain on one day
during the week, the rainfall reaching one inch and fifteen
hundredths. The thermometer has averaged 85, ranging
from 65 to 105.
*
Marlow, Oklahoma.—Rain has fallen on two days of the
week, to the extent of fifty-six hundredths of an inch. Aver¬
age thermometer 81, highest 100, lowest 63.
Oklahoma, Oklahoma.—Rain has fallen on two days of the
week, to the extent of fourteen hundredths of an inch.
Average thermometer S2, highest 97, lowest 66.
Alexandria, Louisiana.—We have had rain on one day
during the week, the rainfall reaching fifteen hundredths of an
inch.
The thermometer has averaged 82, ranging from
70 to 93.
Amite, Louisiana.—We have had rain on six days during
thirty-five
69 to 91,
averaging 80.
New Orleans, Louisiana.—We have had rain on four days
during the past week, to the extent of three inches and
twenty-six hundredths. Average thermometer 80, highest
91, lowest 69.
Shreveport, Louisiana.—We have had rain on four days
during the week, the rainfall being seventy-nine hundredths
of an inch.
The thermometer has averaged 81, the highest
being 91 and the lowest 70.
Columbus, Mississippi.—There has been rain on five days
of the past week, the rainfall reaching two inches and seventysix hundredths.
The thermometer has averaged 80, ranging
the week.
The rainfall reached three inches and
hundredths.
The thermometer has ranged from
from 71 to 90.
Nominal.
tricts
Meridian, Mississippi.—Rain has fallen on six days
during the week, the precipitation being two inches and
thirty-four hundredths. The thermometer has ranged from
70 to 88, averaging 79.
Vicksburg, Mississippi.—We have had rain on six days
during the past week, to the extent of two inches and eightyone
hundredths.
Average thermometer 78, highest 86,
are
lowest 71.
WEATHER REPORTS BY TELEGRAPH.—Telegraphic
reports to us this evening from the South indicate that
in Oklahoma and portions of Texas where rain was stated to
be needed there has been beneficial moisture the past week.
It is claimed, however, that m parts of Texas, especially in
sections, general rains are still needed. From dis¬
along the Gulf and in some localities elsewhere there
complaints of too much rain. Temperature has been
western
seasonable.
Galveston, Texas.—Some portions of the State are needing
good general rains, especially the Western half. Complaints
of the appearance of boll weevils are becoming more nu¬
merous,
Rain has fallen on three days of the week, to the
extent of two inches and fifty hundredths.
Average ther¬
mometer 79, highest 88, lowest 70.
Abilene, Texas.—We have had rain on one day of the
week, the rainfall reaching two hundredths of an inch.
The thermometer has averaged 85, the highest being 100
and the lowest 70.
Brenham, Texas.—We have had rain
two days the
past week, the rainfall being ninety-one hundredths of an
inch
Thermometer has averaged 86, ranging from 72 to 100.
Cuero, Texas.—There has been light rain on two days
on
.
during the week, to the extent of fifty-nine hundredths of an
inch.
The thermometer has ranged from 69 to 101, aver¬
aging 85.
DaUas, Texas.—It has rained one day of the week, the
rainfall being thirty-eight hundredths of an inch.
Average
thermometer 84, highest 100 and lowest 67.
Henrietta, Texas.—We have had light rain on one day of
the past week, the rainfall being five ■hundredths of an inch.
The thermometer has averaged 87, ranging from 66 to 102.
Huntsville, Texas.—We have had very heavy rain on three
days during the week, the rainfall being four inches and
forty-five hundredths. The thermometer has ranged from
67 to 92, averaging 80.
KerrviUe, Texas.—We have had no rain during the past
week.
Average thermometer 83, highest 105, lowest 60.
Lampasas, Texas.—We have had showers on two days of
the week, to the extent of twenty-five hundredths of an inch.
The thermometer has averaged 85, the highest being 101 and
the lowe.st 08.
Longview, Texas.—We have had rain
on
four days during
the week, to the extent of one inch and seventy-three hun¬
The thermometer has averaged 84, ranging from
dredths.
70 to 98.
Eldorado, Arkansas.—Rain has fallen on five days of the
one inch and twenty-one hundredths.
The thermometer has averaged 80, the highest being 90 and
the lowest 69.
Fort Smith, Arkansas.—Rain has fallen on three days
week, to the extent of
during the week, the rainfall reaching thirty-one hundredths
of an inch.
The thermometer has averaged 83, ranging
from 70 to 96.
Helena, Arkansas.—Grass is growing and cotton is suffering
account of too much rain.
There has been light rain
the precipitation being ofie inch and seventy-five hundredths:
Thermometer has ranged from 71 to 89, averaging 78^5. ’
Little Rock, Arkansas.—Weather conditions favorable for
cotton on hill lands but a little too much rain for bottom3.
We have had rain on five days during the past week, to the
extent of two inches and twenty-five hundredths.
Average
thermometer 80, highest 89, lowest 70.
Dijersburg. Tennessee.—-We have had rain on five days
during the week, the rainfall being two inches and thirty-five
hundredths.
The thermometer has averaged 79, the highest
being 88 and the lowest 70.
Memphis, Tennessee.—We are having too much; rain.
Dry, hot weather is needed. There has been rain oh four
days of the past week, the rainfall reaching one inch and
eleven hundredths. The thermometer has averaged 77.6,
ranging from 68.1 to 84.7.
Nashville, Tennessee.—Rain has fallen on six days during
the week,; the precipitation being one inch and seventy
The thermometer has ranged froiii 68 to 82/
hundredths.
averaging 75.
~
..
! .
Mobile, Alabama.—There is general complaint of too milch
rain.
Interior crop reports are spotted.
We have had rain
on six days during the past week, to the extent of eight
inches and forty hundredths.
Average thermometer 78,
highest 86, lowest 69.
:
Montgomery, Alabama.—Too much rain. Rain ha^fallen
on each day of the week, to the extent of two inches and
thirty-six hundredths. The thermometer ha6 aVerhg£d 78)
on
,
.
.
(
Luliny, Texas.—There has been rain on one day during the highest being 89 and the lowest 68.
Selma, Alabama.—Rain has fallen cn each day of the week,
sixteen hundredths of an
from 68 to 102, aver¬ the precipitation reaching three inches and six hundredths.
The thermometer has averaged 80, ranging from 70 to 92, ,
aging 85.
Nacogdoches, Texas.—Rain has fallen on two days of the
ThomasviUe, Alabama.—There has been rain on six days
week, the rainfall being forty-one hundredths of an inch. during the week, the precipitation being three inches and
Average thermometer 80, highest 89, lowest 70.
eighty hundredths. Thermometer has rahged from 66 to
Palestine, Texas.—We have had rain on four days of the 89, averaging 78.
week, the precipitation reaching one inch and sixty-eight
Madison, Florida.—There has been rain on three days
hundredths. The thermometer has averaged 82, the high¬ during 4he week, to the extent of one inch and fifteen him
est being ‘96 and the lowest 68.
dredthsV Lowest'temjterature 71, highest 95, average 82* ^
Paris, Texas.—We have had light rain on two days during
Tallahassee; Florida.—We have had rain on fotir days
the week, to the extent of twenty-three hundredths of an duringi the week, the precipitation! being two; inched and.
inch.
Thp thermometer has averaged 81, [ranging from fifteen hundredths. The thermometer has averaged 80; the
65 to §7.':
•
highest being 90 "and the lowest 70.
the week, the precipitation being
inch.
Thermometer has ranged
July 9 1910.
THE CHRONICLE
Atlanta, Georgia.—Rain has fallen
on
six days of the week,
the precipitation being two inches and six hundredths.
thermometer has averaged 77, ranging from 68 to 86.
and the lowest 69.
Charleston, South Carolina.—Rain has fallen on one day
during the week, the rainfall reaching eight hundredths of
an inch.
The thermometer has averaged 83, ranging from
73 to 92.
Greenville, South Carolina.—We have had rain on five days
during the week. The rainfall reached two inches. The
thermometer has ranged from 67 to 85, averaging 76.
Greenwood, South Carolina.—It has rained on six days of
the week, the rainfall being two inches and fifty-seven
hundredths.
lowest 67.
Average thermometer 80,
highest 94 and
Spartanburg, South Carolina.—The week’s rainfall has
one inch and
thirty-nine hundredths, on five days. The
thermometer has averaged 80, the highest being 93 and the
been
lowest 67.
Charlotte, North Carolina.—There has been rain on three
days of the past wTeek, the rainfall reaching fifty-five hun¬
dredths of an inch.
The thermometer has averaged
77,
ranging from 66 to 87.
Greensboro, North Carolina.—Rain has fallen on three
days during the week, the rainfall being thirty-four hun¬
dredths of
an inch.
The thermometer has ranged from
97, averaging 82.
Raleigh. North Carolina.—We have had rain on three days
during the past week, to the extent of one inch and fifty-six
hundredths.
Average thermometer 80, highest 92, lowest 68.
66 to
INDIA COTTON MOVEMENT FROM ALL PORTS.
July 7.
1909-10.
Receipts at—
1903-09.
Since
Week.
Bombay
1907-08.
Since
Sept. 1.
Week.
22,000 3,111,000
Since
Sept. 1.
Week.
15,000 2,066,000
WORLD’S SUPPLY AND TAKINGS OF COTTON.
The
Augusta, Georgia.—We have had rain on five days during
the week, the precipitation reaching ore in^h and
eight
hundredths.
The thermometer has ranged from 70 to
92,
averaging 81.
Washington, Georgia.-—We have had rain on four days
of the week, the rainfall being two inches and
fifty-three
hundredths.
Average thermometer 80, highest 92, lowest 68.
Savannah, Georgia.—There has been rain on five days of the
past week, the rainfall being one inch and thirty hundredths.
The thermometer has averaged 81, the highest being 93
Cotton Takings.
Week and Season.
Exports
from—
Great
Conti¬
Britain. nent.
Visible supply July 1
Visible supply Sept. 1
American in sight to July 8_
China
Total.
1,000
1908-09..
-
1907-08-.
Calcutta—
1909-10..
-
-
-
-
-
-
....
1908-09..
1907-08.Madras—
1909-10-.
1908-09..
1907-08..
-
1,666
-
-
-
-
Great
Conti¬
Japan
Britain.
nent.
dfc China.
Total.
«
-
-
-
13.000
15,000
16,000
29,000
21,000
25,000
94,000
23,000
28,000
935,000
562,000
610,000
1,000
1,000
1,000
2,000
1,000
2,000
3,000
5,000
6.000
41,000
40,000
25,000
47,000
31,000
4,000
18,000
22,000
27,000
1,000
11,000
8,000
23,000
37,000
41,000
299,000
278,000
239,000
14,000
69,000
32,000
341,000
367,000
291,000
—
.
•
-
-
-
-
Ail others—
1909-10..
1908-09.
1907-08.
Total all—
1909-101908-09..
1907-08-.
-
-
.
1,666
1,000
1,000
5,000
-
1,000
8,000
7,000
—
1,000
2,000
4,000
6,000
6,000
5,000
3,000
11,000
14,000
10,000
28,000
20,000
20,000
1,000 21,000 20,000] 42,000
1,000 16,000 20,006l 37,000
2,000 16.000 21,000 39,000
129,000 1,293,000
52,000 902,000
59,000 901.000
ALEXANDRIA RECEIPTS
846,000 1,875,000
638,000 1,223,000
383,000 1,021,000
91,000
76,000
50,000
20,000
908,0002,330,000
749,0001,703,000
443,0001,403,000
AND SHIPMENTS.
Total supply
1909-10.
1908-09.
7,146,338
This
Since
Week. Sept. 1.
This
Since
Week. Sept. 1.
1,250 150,294
3,000 189,264
118,408
207,439
4~,250 292,853 13,750 350,495
1,250 60.977
900 87,104
222,160
202,179
352,085
70,165
This
Exports (bales) —
Since
Week. Sept. 1.
To Liverpool
To Manchester
To Continent
To America
Total exports
4,500
6.669,980
4.907,053
2,262,836
2,262,836 2,970,270
2,070,270
275,043 14,328,090
309,564 15.649,084
202,743 10,402,790
238,264 12,032,784
72,300 3,925,300
71,300 3,616.300
Embraces receipts In Europe from Brazil, Smyrna. West
Indies, &c.
•
COTTON CONSUMPTION AND OVERLAND MOVE¬
MENT TO JULY 1.—Below we present a
synopsis of the
crop movement for the month of June and the ten months
ended June 30 for three years:
1909-10.
Gross overland for June
Gross overland for 10 months
Net overland for June
Net overland for 10 months
Port receipts In June
Port receipts In 10 months
bales.
1908-09.
51,430
1907-08.
64,129
1,571,829
53,319
1,333,662
181,716
9,694,320
268,587
8,182,562
1,068,526
23,600
819,837
123,831
7,102,451
307,529
Exports In June,;
Exports In 10 months
79,061
1,104,360
65,104
867,577
242,157
8,086,498
263,714
7,201,152
262,660
1,770,515
1,960,000
5,888.245
Port stocks on June 30
244,542
376,394
Northern spinners’ taking? to July 1
2,067,368 2,663,656
.Southern consumption to July 1
2,126,000 2,114,000
Overland to Canada for 10 months (In¬
cluded In net overland)
104,345
117,598
103,469
Burnt North and South In 10 months
1,915
Stock at North. Interior markets July 1__
10,478
16,634
'll',003
Came in sight during June
249,431
345,035
366,261
Amount of crop In sight July 1
10,127,288 13,203,982 11,009,075
Came In sight balance of season
Total crop
Average gross weight of bales
Average net weight of bales
506.05
482.05
-
624,864
572,754
13,828,846 11,581,829
513.49
489.49
509.10
486.10
SHIPPING NEWS.—As shown on a previous
page, the
exports of cotton from the United States the past week have
reached 24,866 bales.
The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK—To
To
To
To
To
Liverpool—July 1—Arabic, 5,997
5,997
Havre—.July 2—Hudson, 4,083
4,088
Bremen—July 6—Barbarossa, 4,119
4,119
Antwerp—July 1—Finland, 59 foreign
59
Copenhagen—July 6—United States, 100
100
Barcelona—July 2—Nederland, 1,795
July 6—Buenos
2,345
PORT ARTHUR—To Antwerp—July
5—Thurland Castle, 100
NEW ORLEANS—To
Liverpool—July 6—Louisianian, 4,200
To Genoa—July 1—Cltta dl
100
4,200
1,734
Palermo, 1,734
GULFPORT—To Bremen—July 7—Holmeslde, 1,074
SAVANNAH—To Manchester—July 1—Pomaron, 519
BOSTON—To Liverpool—July 2—Sagamore, 28
To St. John—July 2—Calvin Austin, 308
SEATTLE—To Japan—July 5—Tamba Maru, 200
1,074
519
28
308
200
Total
24,866
LIVERPOOL.—By cable from Liverpool
have the fol¬
lowing statement of the week’s sales, stocks, &c., at that port:
June 17.
we
June 24.
Sales of the week
bales. 31,000
Of which speculators took._
1,000
Of which exporters took
Sales, American
29,000
Actual export.,
4,000
Forwarded
58,000
Total stock—Estimated
528,000
Of which American.
436,000
Total Imports of the week
25,000
Of which American..
16,000
Amount afloat
119,000
Of which American^
94,000*
July 1.
11,000
18,000
1,000
15,000
4,000
48,000
527,000
437,000
51,000
46,000
95,000
71,000
200
July 8.
30,000
3,000
1,200
9,000
1,000
40,000
541,000
449,000
54,000
48,000
72,000
52,000
7,000
28,000
2,000
57,000
500,000
407,000
18,000
12,000
67,000
47,000
.
Liverpool; market for spots and futures
day of the past week and the daily closing prices of
\
Saturday
Monday.
10,000
6,750 622.532 17,650 834,302
„
259,000
Total takings to July 8
Of which American—a
Of which other
Spot.
1.500
455,000
654,300
1907-08.
Receipts (cantars)—
This week
Since Sept. 1
300
2,537,879 16,590,926 3.279,834 18,619,354
Deduct—
Visible supply to July 8__
each
6.
1,714,982
57423 13,282,072
15,000 2,066,000
16,000
480,000
300
889,300
3,000
187,000
3,111,000
10,000
The tone of, the
Alexandria, Egypt,
July
3,188,411
1,931,022
22,000
13,000
Season.
Aires, 550
15,000
6,000
9,000
1,666
Week.
4l“ 8 24 10,180.604
—
Other India shlp’ts to July 7__
Alexandria receipts to July 6__
Other supply to July 6 *
Sept. 1.
Bombay—
1909-10..
1908-09.
Season.
2,450,755
Bombay receipts to July 7
23,000 1,979,000
Since September 1.
Japan
1909-10.
Week.
To
For the Week.
108
9",506
9,500 846.589
Market,
Friday.
,
1
i?:& } J
Mid.
Tuesday.i Wednesday. Thursday.
Quiet.
Upl’ds
:
7.92
Sales
holi¬
Futures.
Market
1
opened
J
day;
7.89
1
Quiet,
2 pts. adv.
7.92
7,000
1.000'
4,000t
unclk to
Dull.
I
demand.
10,000
500
HOLI¬
DAY.
Moderate
7.96,
5.00C»
Spec.&exp.
More;
demand.
Quiet,
Quiet at
uneh.to
1 pt. dec.
2@8 pts.
decline.
3,000
1.000
Quiet at;
4@6 pts,
advance.
MANCHESTER MARKET.—Our report received by cable Market )
Weak at
Steady at
Quiet, unch. Steady at
4.
I
tonight from Manchester states that the market continues
*@5*
3@6 pts. to 2* pts. 4*@7*
P.M.
J
pts.
adv.
decline.
decline.
cts. adv.
quiet for both yarns and; shirtings. Stocks of yarns are
The
accumulating. We give the prices for to-day below and
prices of futures at Liverpool for each day are given
leave .those for previous weeks of this and last
Prices are on the basis of
year for below
upland, good or ordinary
comparison:
clause, unless otherwise stated.
%
1910.
32a Cop
Twist.
d.
s.
10 H
11*
11*
11*
10*
10*
to H
®
10115-16®
10*
ll*
11*
11*
109-18 >115-16
10N
10*
8* lbs. Shirt¬ Cot’n
ings, common Mid.
to
@
d.
finest.
s.
9
@10 6
8 *@10 6
8*@ 10 6
8
8
8
@10 5
@10 6
@10 6
6* @10 5
5*@10 4
5
Thus. 7 56
1909.
@10 4
Upfs
d
8* lbs. Shirt¬
ings, common
to finest.
32a Con
Twist.
d.
s.
8.18 7*
8.04 7*
8.04 8
8* 4
8* 4
8* 4
^8
7.94
8.23 8
8.09 8*
8 05 8*
I
•
7.86 8*
7.92 8*
@
d.
s.
Mid.
Upls
July 2
Sat*,,
to
July S.
9
@8 10*
9
9
9
9
@8 10*
@8 10*
@8 11
@8 11
0
l*
d.
July-Aug.
Aug.-Sep.
Sep.-Oct.
6.83
5.83
5.96
6.06
Nov
6.33
6.75
d■,
July
5.78
5.85
5.88
Mon,
12* 12* 12*
p.m. p.ljn. p.m.
d.
8*@8 9
8*@8 10
9* 4 10 @9
9* 4 10*&9
Cot'n
d.
4
Dec.
Jan .-Feb.
Feb.-Mch.
Mch.-Apr.
Apr.-May.
May-Junc
12*
p.m*
d; i
d.
7 56*
7 49*
7 25
6 86*
Oct.-Nov.
Dec.-Jan.
Tue$.
.
«
HOLI¬
DAY.
HOLT*
DAY.
means 7
Wed.
4njl2*
p.m. p.m.
Thurs.
wi
12*
12*
p.m. p.m.
ss*a
T?H
55X
56
52* 54
55* 52
|53 *
51*53
51
51
4
i
d;
d.
55 * 61
26* 19* 16*17
88* 84* 81*83
69
65 * 67
63* 60* 56* 58
62* ,57 4 53* 55
6 55* 58 * 59t
6 55
58S
58*
6 54 * 57 * ,58
6 54 * 57 * 58
Frl.
p.m.
dj I d.
d.
d.
59
53* 52
51 * 45*43
56*
49*
25*
88*
56-1OOd.
152*1
46* 51*
20
23*
85 * 87*
69* 71*
62 *
60f
58 *
60 *
57 *
56 *
56
58 s. ■
si*!?*
52* 55
57
104
THE CHRONICLE
BREADSTUFFS.
Friday, July 8 1910.
Prices for wheat flour have shown few changes during the
week.
The reports of serious damage to the spring-wheat
crop have failed to stimulate trade.
In fact the belief of
many is that the situation at the Northwest has been exag¬
gerated and that copious rains would cause a sharp decline
in wheat and perhaps lead to lower quotations for flour.
oThis has made consumers adhere tenaciously to the policy
of buying very sparingly.
Northwestern advices have re¬
ported a moderate business in flour of late, but at the West
and the Southwest business has continued sluggish.
Rye
flour and corn meal have been quiet and steady.
Wheat has been stronger in the main.
The Northwestern
situation has been the dominant factor.
Showers have
fallen in parts of the spring-wheat belt, but a heavy rainfall
seems to be needed.
The crop accounts from that section
of the country have been very bullish. Some take the ground
that the damage has been done and that rains now would be
too late to materially benefit the plant.
A North Dakota
report from
an
official
that the prospects for
in that State are now more remote
source says
half an average crop
than ever.
Even the most conservative authorities concede
that the springw-heat situation is not very encouraging:
even
[VOL.
LXXXXI.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat.
Thurs.
Fri.
MonTues.
Wed.
Natural white.Holi- Holi- 45M-48
46 -48 }* 46 -48}* 46 -49
White clipped
day. 47 -49}* 47}*-50
47}*-50
day.
48 -51
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
July delivery in elevator
September delivery in elevator
December delivery in elevator
The
following
Holiday.
Holiday.
40
395*
405*
40 }*
395*
40}*
40
39
40
40 5*
39 X
40}*
closing quotations:
are
FLOUR.
Kansas straights, sack.$4
4
50 Kansas clears, sacks
‘
6
75 City patents
40 Rye flour
3
4
05 Graham flour
20 Corn meal, kiln dried.. 3
50
Winter, low grades....83 00 @ $3 50
Whiter patents
Winter straights
Winter clears
Spring patents..
Srlng straights
5 30@ 5
4 50® 4
4 00® 4
5 60® 6
4 80® 5
4 00® 4
Spring clears
GRAIN.
Corn, per bushel—
No. 2 mixed
elev.
___$1 24 5*
1 22 5*
No. 2 yellow
f.o.b.
No. 2 white
1 10}*
f.o.b.
1 08 5* Rye, per bushel—
No. 2 Western—f.o.b.
Cents.
46
State and Jersey
@49
Wheat, per bushel—
N. Spring, No. 1
N. Spring, No. 2
..
69}*
Nominal
Nominal
...
...
bushel—
per
00
40
10
20
25
20
Cents.
...
Red winter, No. 2.
Hard winter. No. 2.
Oats,
85® $5
00® 4
30® 7
85® 4
15® 4
05® 3
Natural white.....
White clipped
48
Mixed.
Barley—Malting
Feeding, c.1.1., N. Y__
@51
Nominal
.
78}*
Nominal
@67
Nominal
63
The statements of the movement of breadstuffs to market
from figures collected by
The receipts at Western
Moreover, reports of damage to wheat in shock by excessive lake and river ports for the week ending last Saturday and
rains have been received of late from parts of Indiana, Illinois since August 1 for each of the last three years have been:
and Missouri.
Excessive rains are said to have damaged
Oats.
Com.
Wheat.
Barley.
Rye.
the crop in Roumania. The world’s visible supply showed Receipts-at— Flour.
bush.
lbs.
a decrease last week of over 8,000,000 bushels, which was
32
bushASlbs.
bu.56
lbs.
bush.
56
lbs.
bbls.imbs. bush. 60 lbs.
961,300
304,500
10,000
1,378,050
69,600
89,723
Chicago
far larger than in the corresponding period last year.
The Milwaukee..
139,400
104,000
56.500
135.600
7,140
50,400
new winter wheat in this country has not been
free as many had expected. At Minneapolis there has
been a good demand for the actual wheat from country mills.
Houses with Northwestern connections have been good
indicated below are prepared by us
the New York Produce Exchange.
movement of
Duluth
as
Minneapolis.
buyers at Chicago.
General commission-rhouse business has
been active on the buying side.
Leading Western interests
have made purchases.
On the other hand, private reports of
good rains in many parts of the Northwest have been in circu¬
lation, notably on Wednesday, the 6th inst. These reports
lacked confirmation, but they led to heavy liquidation for a
time and a sharp setback in prices.
Some still profess to
believe that the situation at the Northwest is not really as
serious as reported.
They think allowance should be made
for the usual exaggeration. The crop advices from the
winter-wheat States have in the main been very favorable
and there is a noticeable tendency among some to increase
estimates of the yield.
Believers in lower prices contend
that the movement of the new winter-wheat crop will ere
long be
very
current level.
heavy, especially if prices
are
maintained at the
Meantime the cash demand in most sections of
the country
is sluggish. Southwestern dispatches have in
some cases reported the flour trade so dull that millers were
re-selling cash wheat. The movement of old wheat to market
has continued free. To-day prices were irregular, closing
higher on unfavorable crop reports from the Northwest, light
offerings, commission-house buying and covering of shorts.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Mori, Tuer, Wed. Thins. Fri.
Sat,
No. 2 red winter.
Holi- Holi- 1105* 1105* 109}* llOt*
July delivery in elevator
day.
day. 109 5* 110 5* 108 5* 109 V*
September delivery in elevator
107 5* 107 5* 106}* 106 5*
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
July delivery in elevator
September delivery in eleyator
December delivery in elevator
Sat.
Mon.
Holi-
Holi- 1015*
day.
Tues.
Wed. Thurs. Fri.
103 5* 103
103
day. 101 5* 102 5* 101}* 1015*
103 H 1035* 101 J* 102 }*
Indian com futures here have been nominal.
At the West
the speculation has been active.
Prices there have been
irregular, influenced
the one hand by favorable weather
and crop reports
the other by the strength of wheat.
Beneficial rains have fallen in various parts of the country,
and the crop news has on the whole been very good.
More
moisture is needed in a few sections, but as a rule the plant is
said to be in good condition and growing fast.
On the other
hand, farmers are not selling freely and cash prices have
ruled firm.
Chicago has reported a good shipping demand
and the stock there has decreased.
To-day prices were irreg¬
ular, closing higher on light offerings, an increased cash de¬
mand and covering of shorts.
The Government stated the
July condition at 85.4%, against 89.3% last year.
on
and on
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat• Mon, Tues. Wed. Thurs. Fri.
Cash corn
Holi- Holi69 5*
70
69
69}*
July delivery in elevator
day. day. 69}*
69
69 }*
68}*
70 5*
September delivery in elevator
70 5*
69 5*
70
DAILY CLOSING
PRICES OF CORN FUTURES IN CHICAGO.
Sat.
Mon• Tues. Wed. Thurs. Fri.
July delivery in elevator
Holi- Holi- 59 5*
58 J*
58 X
58 }*
September delivery in elevator
day. day. 615*
61 5*
60 5*
60 5*
December delivery in elevator
59 5*
59 }*
58 J*
59 }*
Oats for future delivery in the Western market have fol¬
lowed com to a large extent, with the trading rather quiet.
With the exception of the Northwestern advices, where
damage has occurred from the protracted drought, the re¬
ports in regard to the crop have been favorable. The pros¬
pects are considered good for a large yield in many States.
The country sales have been light. The cash demand, how¬
ever, has not been brisk.
Elevator interests have sold.
Commission houses have been the principal buyers. To-day
prices closed higher on firmer markets for wheat and com
and covering of shorts.
The Government stated the con¬
dition at 82.2%, against 91% in June and 88.3% last year.'jLi
Toledo
Detroit
Cleveland
St. Louis...
Peoria
Kansas City.
1,243
6,977
37,230
38,000
4,324
4,385
72,742
26,000
323,700
31,835
88,670
83,900
12,000
49,883
283,100
220,354
308.600
Total wk. ’10
Samewk. '09
Same wk. ’08
239,968
340,903
289,050
1,931,749
1,246,490
1,323,756
2,591,992
2,598,702
2,536,247
208,518
1,146,980
19,000
16,395
..
128,027
174,780
30,750
22,895
58,088
117,350
136,000
14,300
175,555
175,280
6,500
16,800
2,100
15,400
1,782,790
2,038,034
782,635
859,766
311,934
47,356
37,937
41,580
2,146.416
816
10,400
1,500
Since Aug. 1
1909-10... 19,013,228 237,430,889 173,370,193 82,352,315 78,396,890 6,664,677
1908-09... 19,057,952 210,222,114 142,326,178 156,990,360 79,999,772 6,203,720
1907-08..
.
17,142,591 203,224,061 114,726,990 177,083,680 60,696,189 6,504,936
of flour and grain at the seaboard ports for
July 2 1910 follow:
Total receipts
the week ended
Wheat,
bbls.
bush.
bush.
bush.
195,000
13,620
35,640
56,686
134,925
18,756
25,996
44,090
109,492
233,800
30,000
1,000
34,460
172,075
56,900
58,277
45,035
119^662
685,549
111,251
25,728
35,195
25,946
3,772
12,748
.
.
Philadelphia
.
Baltimore.
Richmond
New Orleans *
.
.
Newport News—
Com,
248
_
19,000
Galveston
Mobile
3,450
Montreal
io;ooi
.
748,975
Barley»
Oats,
Flour,
Receipts at—
New York
Boston
Rye»
bush
bush.
3.825
2,775
961
68,126
19,500
5,305
Total week 1910.
237,091
10,091
1,069,169
752,183 1,105,462
Since Jan. 11910. .8,317,837 33,713,152 22,512,796 22,894,634 1841,976
Week 1909
622,412
225,138 1,335,821
245,000
48,569
Since Jan. 11909. .7,362,156 33,340,796 26,638,999 23,010,866 4072,637
2,775
.
.
*
on
412,789
40,517
376,752
Receipts do not include grain passing through New Orleaps for foreign ports
through bills of lading.
The exports from the several seaboard ports for the week
ending July 2 1910 are shown in the annexed statement:
Exports from—
Wheat,
bush.
111,408
72,552
Com,
bush.
*
New York
Boston
22,285
17,143
Philadelphia
Baltimore..
New Orleans..
Newport News
Galveston
Mobile..
Montreal
Total week
Week 1909.
947
163,000
13,000
Peas%
bush.
1,558
...
40
600
-
-
—
586,000
279,000
769,960
917,076
268,948 101,941
52,008 100,418
288.205
11,837
-
The destination of these exports
July 1 1909 is as below:
Flour
1,558
70
12,857
for the week and since
Com
Wheat
Since
Since
Since
1,144
July 1
1909.
bush.
10,988,011
14,454,925
1,187,569
2,269,244
54,899
34,180
101,941 9,490,988 769,960 84,455,261 268,948
100,418 9,928,019 917,076 107,985,172 52,008
28,988,828.
31,064,142
Week
Exports for week and
since July 1 to—
United Kingdom
July l
Week
July 1
July 2.
1909. July 2.
bbls.
bbls.
bush.
30,269 4,897,630 653,484
1909.
bush.
58,058,189
Continent
15,682 1,896,103 116,476
South & Cent. Amer.. 21,877
858,379
West Indies
34,078 1,427,694
Brit. North Amer. Cols
100,080
Other Countries35
311,102
Total
Total 1908-09--.-
Barley,
bush.
8,565
5,000
3,450
19,000
34,460
Bye,
bush.
Oats,
bush.
621
20,000
2,060
30,000
.
Flour,
bbls.
39,923
Week
July 2
bush.
25,832,401
47,143
374,774 148,816
4,690 71,845
185,207
shipments of wheat and corn for the week
July 2 1910 and since July 1 1909 and 1908 are
in the following:
The world’s
ending
shown
Com.
Wheat.
1910.
Exports.
|
1909.
1910.
1909.
Week
Since
Since
Week
Since
Since
July 2.
July 1.
July 1.
July 2.
July 1.
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
North Amer. 1,130,000
Russian.... 3,104,000
Danubian
336,000
67,000
892,000
765,000
1,016,000
600,000
1,320,000
64,000
Oth. countr’s
1,130,000
3,104,000
336,000
1,016,000
600,000
1,320,000
64,000
1.240,000
359,000
1,480,000
281,000
256,000 1,182,000
2,144,000 2,440,000
200,000
2,512,000
208,000
359,000
281,000
1,182,000
2,440,000
4,156,000
7,570,000
7,570,000
8,040.000 4,262,000
4,262,000
5,880,000
..
Argentine
..
Australian..
Total....
July 9 1910.
The quantity
mentioned was
THE CHRONICLE
of wheat and
corn
afloat for Europe
Wheat.
United
Kingdom.
Bushels.
June 30 1910.. 23,920,000
June 23 1910.. 24,080,000
Continent.
Bushels.
8,320,000
9,920,000
1 1909. 20,000,000 14,880,000
2 1908.. 19,040,000 11,040,000
The
dates
Com.
United
July
July
on
follows:
as
.
Total.
Kingdom.
Continent.
Total.
Bushels.
Bushels.
Bushels.
Bushels.
32,240,000
34,000,000
34,880,000
30,080,000
6,035,000 7,735,000 13,770,000
5,695,000 6,375,000 12,070,000
9,520,000 12,495,000 22,015,000
5,865,000 11,730,000 17,595,000
visible
supply of grain, comprising the stocks in
at principal points of accumulation at lake and
seaboard ports July 2 1910, was as follows:
granary
AMERICAN GRAIN STOCKS.
Wheat,
New York
Boston
Rye,
bush.
bush.
343,000
15,000
34,000
208,000
109,000
134,000
11,000
Baltimore
New Orleans.
Galveston
Buffalo
Toledo
35,000
737,000
132,000
133,000
Detroit
1,145,000
Chicago
Milwaukee
Duluth
Oats,
bush.
268,000
60,000
9,000
199,000
266,000
5,000
380,000
64.000
149,000
1,104,000
259,000
147,000
83,000
220,000
714,000
46,000
366,000
579,000
306,000
159,000
367,000
Philadelphia
305,000
2,160,000
.
-
Minneapolis
5,125,000
St. Louis
Kansas City
Peoria
286,000
710,000
4,000
91,000
Indianapolis
Corn,
bush.
217,000
75 000
On Lakes
On Canal and River.208,000
Total July
2 1910- .12,034,000
Total June 25 1910- .13,143,000
Total July
9,756,000
3 1909.
5,224,000
5,614,000
3,210,000
54l",666
34,000
18,000
429,000
94,000
1,410,000
272,000
97,000
80,000
144,000
70,000
166,000
181,000
4,245,000
4,792,000
6,281,000
19,000
Barley,
bush
117,000
1,000
195,000
4,000
49,000
267,000
488,000
63,000
15", 666
224',666
26,000
378,000
406,000
157,000
20,000
1,443,000
1,448,000
649,000
CANADIAN GRAIN STOCKS.
Wheat,
Montreal
Fort William.
Port Arthur.
Other Canadian
Total July 2 1910Total June 25 1910Total July
3 1909-
Corn,
Oats,
Rye,
bush.
bush.
bush.
bush.
1,111,000
1,667,000
1,236,000
581,000
137,000
521,000
4,595,000
4,926,000
2,674,000
137,000
Barley,
bush.
101,000
64,000
99,000
521,000
572,000
498,000
101,000
113,000
145,000
SUMMARY.
Corn,
Oats,
Rye,
bush.
bush.
bush.
bush.
bush
.12,034,000
4,595,000
5,224,000
137,000
4,245,000
521,000
378,000
1,443,000
101,000
Total July 2 1910.-16,629,000
Total June 25 1910.-18,068,000
5,361,000
5,678,000
3,309,000
4,766,000
5,364,000
6,779,000
378,000
406,000
157,000
1,544,000
1,561,000
Total July
.
3 1909-.12,430,000
steady business of moderate proportions coming forward on
the new basis adopted at the beginning of the month.
Such
coarse colored goods as denims, tickings, &c., are
slow, and
although not quotably changed in price, buyers occasionally
secure slight advantage.
Staple prints and ginghams are
without alteration of moment.
In finer yarn fabrics, both
printed and woven patterned, orders for immediate delivery
are light, but agents report a fair demand
coming forward for
1911 season.
Fall River mills have practically been idle this
week, but notwithstanding this, 38^-inch 64 squares have
further declined, business being done at 4^c., fair sales
being made thereat. Narrow 64 squares attract little atten¬
tion and continue nominal at 4c.
goods from this port for the week ending July 2 were 1,997
packages, valued at $156,006, their destination being to the
points specified in the table below:
1910
Since
Week. Jan. 1.
53
1,118
587
u
New York to
July 2—
Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America.
South America
Other countries.
Barley.
H3.000
AGRICULTURAL
DEPARTMENT’S
REPORT
ON
CEREAL CROPS, &c., TO JULY 1.—The Agricultural
Department issued on the 8th inst. its report
for the month of June as follows:
on
the cereal
crops
The Crop Reporting Board of the Bureau of Statistics of the United States
Department of Agriculture estimates, from the reports of j the correspondents
and agents of the Bureau, as follows:
The preliminary estimate of the area of corn planted Is 114,083,000 acres,
an Increase of 5,312,000 as compared with the final estimate of last year’s
acreage.
The average condition of the corn crop on July 1 was 85.4,as compared
with 89.3 on July 1 1909, 82.8 on July 1 1908 and 80.2 on July 1 1907.
The average condition of winter wheat on July 1 or when harvested was.
1909
Since
Jan. 1.
602
656
33,690
7,198
5,654
2,004
14,259
•
103,194
8,700
1,867
17,070
632
7,180
754
20,697
950
16
331
952
666
4,756
25,672
22,119
.
Total
1,997 118,007
887
7,542
26,474
9,519
5,227 202,521
The value of these New York
exports since Jan. 1 has been
$8,333,002 in 1910, against $11,125,554 in 1909.
WOOLEN GOODS.—Further
Wheat,
American
Canadian
expense of values, prices can be quoted generally steady.
Towards the close of the week an improvement in the in¬
quiries for export is noted in the heavy brown goods division.
Bleached cottons are without particular feature this week, a
DOMESTIC COTTON GOODS.—The exports of cotton
19,566
29,000
4,000
2,000
14,000
6,000
107,000
143,000
9,000
105
new
lines of men’s
low-
wear
grade fabrics for next season have been opened this week
without stimulating interest on the part of buyers.
Progress
made up to the present time proves generally
disappointing.
Higher-grade goods for next season have still to be shown,
and under prevailing conditions may not make their
appear¬
ance for some few weeks to
come; meanwhile the price
situation remains unchanged.
Business in dress goods of all
grades is quiet and there is little demand for cloakings. The
strike of cloak-makers, referred to above, adds further
uncertainty to both the dress goods and cloakings outlook.
FOREIGN DRY GOODS.—A moderate demand is
re¬
ported coming forward for seasonable lines in the various
departments in the shape of small orders, well distributed.
For forward importation the demand is quiet.
Silks and
linens are firm in price, but fine cotton goods show some
irreg¬
ularity. There has been more business doing in burlaps than
for some time past, but the demand has been met
by sellers
at prices previously prevailing.
Importations and Warehouse Withdrawals of Dry Goods
&
81.5, compared with 80 last month, 82.4 at harvest 1909, 80.6 in 1908
and 78.3 In 1907.
figs’ll
t r riS-s12.
SS^sgS.
The average condition of spring wheat on July 1 was 61.6, as compared
with 92.8 last month, 92.7 on July 1 1909, 89.4 on July 1 1908 and 87.2
B
I
&
g
IFfllf
B
July 1 1907.
The average condition on July 1 of spring and winter wheat combined
was 73.5%, against 86.5% on July 1
1909, 83.9% on July 1 1908 and
81.6% on July 1 1907.
The amount of wheat remaining on farms Is estimated at about 38,739,000 bushels, as compared with 15,062,000 bushels on July 1 1909.
The average condition of oats on July 1 was 82.2%, as compared with
91% on June 1 last, 88.3% on July 1 1909, 85.7% on July 1 1908 and
81% on July 1 1907.
on
%
_
THE DRY GOODS TRADE.
New York, Friday Night, July 8 1910.
The general conditions in the market this week have not
undergone any material change. In some directions a
moderate improvement in demand is noted, but taken all
around, business at first hands continues indifferent. The
jobbing trade is quiet, and with.retailers’ sales of seasonable
fabrics, although stimulated somewhat by the warmer wea¬
ther, have not exceeded average dimensions for the time of
the year.
The curtailment in the output of cotton goods
this week is put by some authorities at proportionately the
greatest since the time of the Civil War, and whether this
estimate is correct or not, it is certain that the cut-down
has been severe.
This has not improved the market for
cotton goods.
There are no instances noted of sellers asking
higher prices, while there are, as in the case of gray goods,
well-authenticated reports of business being done at lower
prices than were accepted a week ago. Curtailment of pro¬
duction is not confined to cotton goods; it is also a feature
of the woolen and worsted goods industries, and with 70,000
cloakmakers in New York deciding yesterday to go out on
strike, is likely to become an even more prominent factor.
The domestic silk industry is also in an
unsatisfactory posi¬
tion; prices are maintained but some forty to fifty per cent
of the looms in the country are said to be
lying idle. Various
causes are assigned for this
condition, but none fairly ex¬
plains the situation, and it is not difficult, therefore, to
understand why buyers are mostly working from hand to
mouth, and why manufacturers are conservative in getting
under engagements ahead.
The demand for brown sheetings and drills has been irreg¬
ular and of restricted extent on home
account, but with no
pressure on
the part of sellers to stimulate business at the
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106
THE CHRONICLE
8wti mv City Department.
For Oae Tear
Subscription—Payable
personal property for 1910.
In Advance
$10 00
....
Ssr
Six Uonth8
uropean
Subscription (includingpostage)..
6 00
13
00
7 60
£2 14s.
£1 11 s.
$11 60
European Subscription six months (including postage)
Annual Subscription in London (including postage)...
Six Months Subscription in London (including postage)
Canadian Subscription (including postage)
Subscription includes following Supplements—
State and City (semi-annually)
B iNK and Quotation (monthly)
Railway and industrial (quarterly)
Railway Earmmis (monthly)
Terms of
Electric Railway (3 times yearly)
Bankers’ uoxvention (yearly)
Advertising—Per Inch Space
Transient matter per inch space (14 agate lines).
$4 20
( Two Months
22 00
29 00
(H times)
Standing Business
Bnrfr»«a« Cards
n.-d- <
) Three Months (13 times)
standing
gix Months
t
less than the total vote polled at the same
election held in the city. The case has
the city.
J26 time8)
60 00
1 Twelve Months (o2 times)
67 00
CHICAGO OFFICE—Pliny Bai tt«tt,513 Monadnoek Block; TeL Harrison 401
LOHDOH OFFICE—Edwards A Smith. 1 Drapers’ Gardens, E. C.
WILLIAM B. DANA COMPANY, Publishers,
F. O. Box 058*
Front, Pine and Depeyster Sts.,
New York.
The
falling off in the demand for municipal bonds which
May transactions continued through¬
out June.
Very few offerings of large bond issues were suc¬
cessful, and where the municipalities did succeed in dis¬
posing of their securities the prices realized were, as a rule,
low.
There were indeed more abortive attempts to sell
bonds in June than in any month since the panic of 1907.
Some of the more important issues that were offered without
noticeable in the
last month
were as
follows:
Name of Place—
Amount.
Seattle,
Minneai
State of Mississippi
Cleveland School District, Ohio.
Lawton, Okla.
Bayonne, N. J.
,500,000
650,000
600,000
500,000
500,000
250,000
250,000
281,000
280,000
250,000
234,000
225,000
Int. Rate. Date Offered.
June
4
4H%
June
9
4%
June
6
4%
June
1
4%
1
June
4^%
June 13
4%
June
13
5%
June 20
4%
June 20
5%
June 30
4H%
June
7
4^%
June 27
4%
In addition to the
above, other cities, such as Albany,
N. Y., and Buffalo, N. Y., also made public offerings without
success, but subsequently disposed of their bonds at private
sale.
Still other cities only succeeded in placing their obli¬
gations after the interest rate on the same had been in¬
creased.
The total of
long-term bonds sold in June was $17,012,362.
During the same period $21,196,583 temporary loans were
negotiated and $4,017,453 debentures sold by Canadian
municipalities.
The number of municipalities issuing bonds and the num¬
ber of separate issues made during June 1910 were 292 and
374, respectively. This contrasts with 235 and 321 for May
1910 and 337 and 554 for June 1909.
For comparative purposes we add
the following table
showing the aggregates for June and the six months for a
series of years.
In these figures temporary loans and bond
issues by Canadian municipalities are excluded.
Month of
1910
$17,012,862
1909
62,124,450
1908-..-- 31,606,064
1907.
21,390,486
1906
21,686,622
1905
19,016,754
1904
24,425,909
1903
16,926,619
1902
28,417,172
1801
13,468,098
For the
Six Months.
Month of
June.
$158,453,414 1900
207,125,317 1899
169,082,579 1898
115,347,889 1897
102,338,245 1896
111,723,054 1895
137,869,155 1894
79,576,434 1893.
87,628,395
61,223,060
1892
$19,670,126
29,348,742
9,704,925
16,385,065
12,792,308
15,907,441
16,359,377
1,888,935
12,249,000
For the
Six Months.
$77,943,665
63.345.376
44,078,547
73.275.377
43,176,964
56,991,613
66,426,902
32,663,115
49,093,291
Owing to the crowded condition of our columns, we are
obliged to omit this week the customary table showing the
month’s bond sales in detail.
It will be given later.
News Items.
Louisiana.—Legislature Adjourns.—The
Legislature of
July 7. As previously
stated, only one House ratified the proposed Income Tax
Amendment to the Federal Constitution.
See V.90 p.1567.
Nashville, Tenn.—City Restrained from Issuing Trunk Sewer
Bonds.—A permanent injunction was granted on
July 1 in
the case of Sperry et al. vs. Mayor and City Council et
al.,
restraining the issuance of $500,000 trunk-sewer bonds. On
March 15 $250,000 of these bonds were awarded to Wm. A.
Read & Co. of Chicago.
See V. 90, p. 799. It is said, how¬
ever, that this sale was never consummated, the successful
bidders claiming that there was doubt as to the
validity of
the election.
The Chancellor holds that the enabling Act
authorizing the issuance of the bonds upon an election by
this State ended its 1910 session
on
the voters meant that the securities should receive
a
ma¬
jority of the votes cast in the general election, and not sim¬
ply a majority of the votes cast on the bond proposition.
The total vote polled on the bond feature was
considerably
The total assessed valuation for
190.$28,34
corporations and $465,409,600 special franchise assessments)
and $372,644,825 in personal property.
There is an increase
of $237,012,930 in the real estate values, while
personal
property is assessed at $70,676,030 less than last year. This
decrease in the value of personal property is caused princi¬
pally by the cancellation of assessments on which no taxes
can be collected.
It is estimated that the tax rate in Man¬
hattan and the Bronx will be $1.76+ on the $100 valuation;
last year
it was $1,678. The following table presents by
boroughs the assessment of each separate class of property
for this year and for 1909:
REAL ESTATE.
Boroughs—
1910.
1909.
Inc.
or
Dec.
(Ordinary real estate.$4,390,793,935 $4,262,553,086 Inc. $128,240,849-
Manhattan (Corporate real estate,
25,110,750
[Special franchises
(Ordinary real estate.
-{Corporate real estate.
328,012,100
442,467,394
31,214,425
[Special franchises
MUNICIPAL BOND SALES IN JUNE.
success
time in the general
been appealed by
the five boroughs is $7,416,837,499, of which
$7,044,192,674
consists of real estate (including $87,447,075 real estate of
Bronx
was so
LXXXXI.
New York City.—Assessed Valuations for 1910.—The
Board of Tax Commissioners on July 5 sent to the Board of
Aldermen for their approval the assessment rolls of real and
PUBLISHED WEEKLY.
Terms of
[VOL.
(Ordinary real estate.
Brooklyn...-{Corporate real estate.
[Special franchises
(Ordinary real estate.
Queens
(Corporate real estate.
[Special franchises
(Ordinary real estate.
Richmond.(Corporate real estate.
[Special franchises
Grand Totals
17.593.400 Inc.
Dec.
Inc.
Inc.
Dec.
Inc.
Inc.
Inc.
Inc.
Inc.
Inc.
Inc.
Deo.
Dec.
7,517,350
6,287,709
32,171,111
2,016,100
3,133,300
46.650.381
1,334,609
1,241,700
25.493.405
916,869
41,100
334,299,800
410,298,283
29/198,325
20,076,100
23.209.400
1,286,374,421 1,239,724,040
17,443,900
16,109.300
100,218,200
98,976,500
307,950,560
282,457,155
11,695,600
10.778,750
14,917,800
14,876.700
62,321,815
63,749,689
1,982,400
2,145.650
2.185,400
2,639,500
of Real Estate by Boroughs.
Manhattan.
Bronx.
Brooklyn.
Queens.
Richmond.
$
$
$
$
$
1,427,874
163,259
454,109
Totals.
1910.. 4,743,916,785 493,757,919 1,404,036,521 334,563,960 67,917,489 7,044.192,674
1909.. 4,614,446,286 462,704,008 1,354,809,840 308,112,605 67,106,965 6,807,179,704
Inc
129.470.49f. 31,053,911
..
Boroughs—
49.226,681
26,451,355
810,524
Ordinary
PERSONAL PROPERTY.
Personal -Corporation Personal-
Personal.
of Estates.
Resident.
Non-Res.
237.012.939
-Non-Res. PersonalSaxe Law
Ordinary.
Manhattan—
$
$
$
$
$
$
1910
116,656,801 60,441,747 71,527,200 26,661,950 18.900,990 3,841,795
1909
130,646,059 75,212,335 66,565,075 29,555,875 25,328,895 4,894,395
Bronx—
1910
1909
.
.
863,935
998,505
1,309,740
1,276,060
89,560
90,410
43.614,020 8,386,455
67,060.580 10,386,300
6,741,000
6,133,810
537,850
598,000
4,129,150
7,498,875
432,380
1,305,350
793,950
868,975
3,000
1,257,995
1,950,685
522,092
857,675
417,400
344,800
5,453,315
11,594,696
Brooklyn—
1910
1909
.
.
52,500
Queens—
1910
1909
Richmond—
1910
1909
.
.
.
.
10,000
....—
Total 1910.. .171,111,281 70,646,609 80.789,290 27,302,360
Total 1909.. .218,750,895 88,760,165 75,188,720 30,244,285
Increase
Decrease
.
„
.......
5,600,570
47,639,614 18,113,556
2.941,925
6,427,905 1,153,600
Grand Totals of Personal Property by Boroughs.
Manhattan.
Bronx.
Brooklyn.
Queens.
Richmond.
Totals.
$7,716,550 $59,331,825 $5,358,480 $2,207,487 $372,644,825
332,202,634 13,959,671 84,332,190 9,673,200 3,153,160 443,320,855
Decrease
$34,172,151 $6,243,121 $25,000,365 $4,314,720
$945,673
$70,676,039
GRAND TOTALS BY BOROUGHS OF REAL AND PERSONAL
PROPERTY.
Manhattan.
Bronx.
Brooklyn.
Queens.
Richmond.
Totals.
$
$
$
$
$
1910.. 5,041,947,268 501,474,469 1,463,368,346 339,922,440 70,124,976
1909.. 4,946,648,920 476,663,679 1,439,142,030 317,785,805 70,260,125 7,250,500,559
Inc.
Dec....
95,298,348 24,810,790
7,416,137,499
24,226,316 22,136,635
166,336,940
135,149
Philadelphia, Pa .—State Supreme Court Sustains Validity
of $5,000,000 Loan.—On July 1 a decision was rendered by
the State Supreme Court in the suit brought by Frank S.
Elliott, a tax-payer, to restrain the city from negotiating
the $5,000,000 loan authorized by Councils in May.
See
V. 90, p. 1318. The opinion is by Justice Elkins and holds
that the loan in question is within the borrowing capacity
of the city.
Common Pleas Court to Hear $8,000,000 Loan Suit in
September.—It has been announced that argument in the
suit brought by Logan M. Bullitt to test the validity of the
$8,000,000 bonds offered without success on May 16 (V. 90,
p. 1380) will be heard by the Court of Common Pleas No. 4
in September.
Pittsburgh, Pa.—Bonds Declared Illegal by State Supreme
Court.—In an opinion written by Justice J. Hay Brown,
handed down in Philadelphia on July 1, the State Supreme
Court decides that the $6,775,000 bond issue for various city
improvements, voted last November, is invalid. The Court
says in part:
“The constitutional requirement Is that municipal Indebtedness Is to
be Increased to an amount exceeding 2% upon the assessed valuation of
taxable property only with the assent of the electors at a public election. In
such manner as shall be provided by law, and the statutory provision Is
that before such an election can be authorized by the municipal authorities,
they must first act by giving expression, by ‘ordinance or vote,’ of their
desire for the Increase.”
"All this was denied the electors of the City of Pittsburgh In the present
case.
Councils utterly Ignored their duty of expressing to the electors
their desire that the Indebtedness should be Increased and plunged In
medlas res by passing an ordinance authorizing the submission of the
question of the proposed Increase to the electors at the general election held
From one end of this ordinance to the other there Is to be
Nov. 2 1909.
f ound no expressten^of the wish or desire of Councils as to-the-proposed In-
July 9 1910.
crease.
Purposely
THE CHRONICLE
or otherwise,
upon them by taw.
they avoided the responsibility placed
What ttfrequired tb&n to do before they could submit
question of Increase to the electors, they failed to do, and the ordinance
of Sept. 24 1909 must fall.
The foundation heeessary for It had not been
laid.
It 1? not to be taken as evidence of the desire of Councils.
That
must have been expressed by separate and Independent
action; Hoy vs.
the City of East Saginaw, fet al.
^
*.* ■T’ ■ 1
^
“The
the
various other questions raised by the complainant need not be now
considered. "The authorities of the City of Pittsburgh may or
ordinance or vote, signify their desire to Increase the city’s may not, by
Indebtedness,
and. If they should. It Is not for us npw to act as an advisory board to them,
telling them what they must subsequently do. They know what objections
have beep raised by the complainant, which may be renewed by them
or
other tax-payers If subsequent municipal action on the same subject should
be
^p^n to the same objections.” See V. ?p. p. 1313.
Porto Rico.—Bond Sale— On July 7 the $425,000
4%
10-17-year (optional) gold registered bonds, a description of
was given in V. 90, p. 1376, were awarded as follows:
$5,000 to Edward B. Folse of Oak Ridge, La., at 103.125
and accrued interest and the remaining $420,000 to the Na¬
tional City Bank of New York City and the
Royal Bank of
Canada at San Juan at their joint bid of 100.0626 and ac¬
which
crued interest.
'The bids received
were as
follows
Edward B. Folse. Oak Ridge, La. (for 35,000)
103.125
National City Bank. New York, and Royal Bank) (all or any part) .100.0626
of Canada at San June, P. R—.V,
'
Muller; Schall & Co.. New York (for $150,000)
__.100.05
All bidders offered accrued Interest In
addition to their bids.
_
■t,«sKW
Bond Calls and Redemptions.
St. Francis Levee District, Ark.—Bond Call.—On Jan. 1
1911 this district will redeem all bonds issued under the
authority of an Act of the General Assembly approved
March 13 1899.
Bond Proposals and Negotiations this week
have been as follows:
Aut hoftty 9 Chapter 395, Acts of 1908.
Denomination $500.
Date
July 1 1903. Interest semi-annually at the County Commissioners’ office
In Denton.
J
iV£0(LyearJy Commissioners.
Jul7 31 from 1911 to 1918 inclusive.
I. L. Dukes Is Herk of the County 9?
,
,
Claremont, Los Angeles County, Cal.—Bond Sale.—The
$12f,5O0 street/$3,500/city-hall-improvement and $4,000 fireapparatus bonds offered on June 6 and mentioned in V. 90,
awarded, it is stated, to Barroll & Co. of San
and accrued interest.
Clifton School District No. 2, Ran .—Bond Sale.—This
district sold $15,000 4%% school-house bonds last month to
the State of Kansas at par.
Bonds are dated July 1 1909 and
mature July 1 1924, subject to call at any interest
period.
Clymer School District (P. 0. Clymer), Indiana County,
Pa —Bond Sale.—This district, we are informed, has
awarded $8,000 5% bonds dated June 1 1910 to the Wash¬
ington Investment Co. of Pittsburgh.
Coleraine, Itasca County, Minn.—Bond Sale.—On June 30
the $40,000 5% coupon jail, village-hall and fire-hall bonds
dated July 1 1910, a description of which was given in V.
90,
p. 1693, were awarded to the Commercial Investment Co.
of Duluth, represented by G. A. Elder, at
par and accrued
interest.
A bid of par and interest was also received from
S. A. Kean & Go. of Chicago.
Conecuh County (P. O. Evergreen), Ala.—Bond
Offering.
—Proposals will be received until 12 m. July 15 by F. J,
Dean, Judge of Probate, for $20,000 of the $100,000 5%
coupon road-improvement bonds voted on June 18.
See
V. 91, P- 51.
' "
p.
1377,
were
Francisco -at par
Authority Chapter 11, Sections 158 to 174, Code of Ala. of 1907. De¬
nomination $1,000.
Date July 1 1910. Interest semi-annually at the
Hanover National Bank In New York City.
Maturity 30 years. Bonds
are exempt from all taxes.
Certified check for $500, payable to the Judge
of Probate, Is required.
Court House Township School District No. 1, Chester
So. Caro.—Bond Sale.—The $15,000 4^% 20-40County,
was the successful bidder on June 28 for the
$28,000 5% municipal-water-plant bonds due $1,000 yearly year (optional) coupon school-building bonds offered on
June 24 and described in V. 90, p. 1626, were
on July 1 from 1912 to 1939 inclusive and described in
disposed of at
V. 90,
par
to local banks.
p. 1690.
The securities are subject to call after July 1 1922.
Cuyahoga County (P. O. Cleveland), Ohio.—Bond Sale.—
Alton, HI.—Bond Offering.—Proposals were asked for
The $3,500 4^% coupon Independence Road No. 2
until 12 m. yesterday (July 8) by Wm. P.
improve¬
Boynton, City ment assessment
bonds, bids for which were rejected on Apr.20
Comptroller, for $21,000 4% bonds.
(V. 90, p. 1191), have been sold to Otis & Hough of Cleve¬
Denomination $500.
Date July 1 1910.
Interest semi-annually at the
City Treasurer’s office. Maturity $5,000 on July 1 In each of the years
land for $3,567 45 (101.927) and accrued interest.
1915, 1920 and 1925 and $6,000 on July 1 1930.
The result of this offering
was not known to us at the hour of going to press.
Danbury Township (P. 0. Lakeside), Ohio.—Bond Offer¬
Ray City, Mich.—Bond Offering.—Proposals will be re¬ ing.—Proposals will be received until 12 m. July 9 by G. A,
ceived until 3 p. m. July 11 by E. E.
Pettibone, Clerk, for $8,400 5% coupon macadam-road
Prohazka, City Comp¬ bonds.
troller, for $17,000 5% local-improvement bonds.
Denomination $1,000, except one bond for $400.
Date
Albion, Erie County,
Pa.—Bond Sale.—The Citizens’
Bank of Albion
Denomination $1,000.
Date July i5 1910.
Interest semi-annually in
New York City.
Maturity $10,000 July 15 1913 and $7,000 July 15 1916,
Certified check for $500, payable to the City
Comptroller, Is required. Pur¬
chaser to pay accrued Interest.
Proofs of legality to be furnished the suc¬
cessful bidder.
July 9 1910. In¬
semi-annually at the Township Depository. Maturity $1,000 yearly
July 9 from 1911 to 1918 Inclusive and $400 July 9 1919.
Bonds are
not taxable.
Certified check on a bank in Ottawa County for $250, payable
to the Township Trustees, Is required.
Purchaser to pay accrued interest.
terest
on
Drummer Township High School District, Ford
County,
Bogue Hasty Drainage District, Bolivar County, Miss.— IU.—Bond Sale.—The
$45,000 5% 8J^-year (average) highBonds Offered by Bankers.—The Bank of Commerce & Trust
school-building and site-purchase bonds voted on June 7
Co. in Memphis is offering for sale $160,000
6% 1-20-year (V. 90, p. 1626) were recently sold to E. H. Rollins & Sons
(serial) bonds.
and the Harris Trust & Savings Bank, both of
Chicago, for
Denomination $500.
Date April 1 1910.
Interest annually at the Bank
of Commerce & Trust Co. In Memphis.
$45,375 (100.833) and accrued interest—a basis of about
Total debt, this Issue.
Boston, Mass.—Temporary Loans.—In addition to the 4J^%. Purchasers to furnish blank bonds. A bid of
loans of $900,000 and $700,000 mentioned in V.
90, p. 1568,
this city also negotiated loans of
$1,000,000 and $450,000
during the month of June.
The two first mentioned issues
dated June 7 1910 and the two latter issues are dated
June 30 1910.
They are all payable next November.
are
Bowbells, Ward County, No. Dak.—Bonds Voted.—The
electors of this district
on
June 20 authorized the issuance of
$4,000 4% 20-year water-works bonds by a vote of 80 to 18.
Broken Arrow, Okla.—Bond
Offering.—Further details are
at hand relative to the
offering on July 11 of the $37,000 6%
coupon water-works bonds mentioned in V. 90, p. 1691.
Proposals will be received until 8 p. m. on that day by P. A.
Fox, City Clerk.
Denomination $500.
Date July t 1910.
Interest payable at the City
Treasury. Maturity July 1 1935. Certified check for 5%, payable to the
City Clerk, Is required. Bonded debt at present, $7,500. No floating
debt.
Assessed valuation 1009, $769,000.
Brookyille,
Noxubee County, Miss.—Rate of Interest.—We
advised
are
awarded
on
that the $7,000 coupon water-works bonds
June 7 to S. A. Kean & Co. of
Chicago for
$7,001 42 (100.02), plus expenses (V. 90,
interest.
p.
1691),
carry
6%
Buffalo, N. Y.—Bond Sales for June.—The following 4%
bonds aggregating $18,583 49 were
disposed of during June
to the various sinking funds:
$10,000 00 temporary-loan bonds dated June 1 1910 and due July 1 1911.
1,400 00 temporary-loan bonds dated June 15 1910 and due
July 1 1911.
4,000 00 monthly local-work bonds dated June 15 1910 and due June 15
1911.
1,183 49 monthly local-work bonds dated June 15 1910 and due June 15
1911.
2,000 00 monthly local-work bonds dated
June 15 1910 and due June 15
1911.
$45,365
also received from John Nuveen & Co. of Chi¬
are dated July 1 1910.
Elgin Township Union School District No. 46 (P. O.
cago.
was
The bonds
Elgin), Kane County, Ill.—Bond Sale.—This district, it is
stated, awarded the $70,000 4% school bonds offered on
June 24 and described in y 90, p. 1693, to N. W.
Halsey &
Co. of Chicago for $70,100, less $2,847 50 for
expenses.
Maturity $15,000 yearly on July 1 from 1919 to 1922 inclusive
and $10,000 July 1 1923.
Elizabeth City, No. Caro.—Bond
Offering.—Proposals will
be received until 4 p. m. July 11 by Z> Fearing,
Mayor, for
$60,000 5% coupon street-improvement bonds. The suc¬
cessful bidder will also be given an option on an additional
.
$60,000 bonds.
Authority, Chapter 215, Private Laws of 1907. Denomination $1,000.
Date, day of issuance. Interest annually in New York City.
Maturity
20 years.
Certified check for $1,000, made payable to the Mayor, Is re¬
quired.
Ellis
County (P. O. Waxahatchie), Tex.—Bonds Voted.—
It is reported that the election held in Red Oak Justice Pre¬
cinct on June 25 resulted in favor of the
proposition to issue
the $70,000 road bonds mentioned in Y.
90, p. 1505.
Erie County (P. O. Sandusky), Ohio.—Bond Sale.—On
July 5 the $65,000 4% coupon Huron River Bridge bonds
described in V. 90, p. 1693, were awarded to the Third
National Exchange Bank of Sandusky for $65,055
(100.084)
and accrued interest.
The other bids
were as
follows:
Seasongood & Mayer, Cincinnati
par less
Breed & Harrison, Cincinnati
par less
Well, Roth & Co., Cincinnati
par less
S. A. Kean & Co., Chicago
par less
Maturity on July 5 as follows: $2,500 in 1911, $3,000 yearly from
to 1919. inclusive and $3,500 yearly from 1920 to 1930 Inclusive.
$600
$625
$650
$650
1912
Canton, Fulton County, Hi.—Bond Offering.—Proposals
Eugene, Ore.—Bond Sale.—On June 27 the $150,000 re¬
July 17 (this date falls on Sun¬ funding and $60,000 water-improvement 5% bonds described
day, but is so given in the official advertisement) by Joseph in V. 90, p. 1693, were awarded to Morris Bros, of Portland
Waugh, City Clerk, for $10,000 4y2% additional-sewer-ex¬ at par and accrued interest.
tension bonds.
Florida School District (P. O. Florida), Henry
County,
Denomination $500.
Interest
will be received until 7
p. m.
Maturity 20
annually at the City Treasurer’s office.
years, subject to call after 5
Certified check for 2%
years.
of bid, made payable to the
City Treasurer, is required.
Caroline County (P. O. Denton), Md.—Bond
Offering.—
Proposals will be received until 2 p. m. July 14 for $8,000
tyfflo coupon Dover Bridge building bonds.
Ohio.—Bond Sale.—On June 30 the $2,000 5% 1-10-year
(serial) coupon improvement bonds described in V. 90,
p. 1694, were awarded; to M. Reiser Jr. of Napoleon, at
102.7625 and accrued interest. Following are the bids:
M. Reiser Jr.,
Napoleon
First Nat. Bk., Napoleon
$2,055 251 New First Nat. Bk., Colum.$2,031 00
2,046 821State Nat. Bk., Napoleon.- 2,030 00
108
THE CHRONICLE
Fort Smith and Van Buren District (P. 0. Fort Smith),
Ark.—Bond Sale.—The $650,000 5% bridge bonds offered
on June 13 and described in V. 90,
p. 1505, were awarded to
Whitaker & Co. of St. Louis. This firm writes that up to
July 5 the legality of the bonds had not been passed upon.
Galion, Crawford County, Ohio.—Bond Sale.—On July 1
the $7,794 91 assessment and the $2,984 23 city's portion
South Columbus Street improvement bonds described
in V. 90, p. 1694, were sold to Seasongood & Mayer of Cin¬
cinnati at 102.002 and 103.77, respectively. The following
bids
were
received:
Seasongood & Mayer, Cincinnati
Davies-Bertram Co., Cincinnati._
Stacy-Braun, Toledo
Citizens’ National Bank, Galion
New First National Bank, Columbus
$7,794 91
$2,984 23
bonds.
bonds.
$7,951 00
7,942 91
7,939 21
$3,096 75
7,935 91
7,933 91
7,916 33
3,104
3,087
3,034
3,082
3,081
23
34
23
23
00
Hayden, Miller & Co., Cleveland
The $7,794 91 bonds mature $1,000 yearly on April 1 from 1914 to 1920
inclusive and $794 91 on April 1 1921, while the $2,984 23 bonds mature
April 1 1924.
Bond
Offering.—Proposals will be received until 12 m.
Aug. 1 by C. S. Hetrick, City Auditor, for $12,000 4)^% re¬
funding bonds.
Girard, Trumbull County, Ohio.—Bond Sale.—On June 27
Stacy & Braun of Toledo were awarded the $8,000 5% coupon
sanitary-sewer-construction bonds, a description of which
was given in V. 90, p. 1694.
The price paid was 102.55 and
accrued interest.
Following are the bids:
$8,204 00 Seasongood&Mayer, Cln
$8,161
00 Cleveland Trust Co., Cleve. 8,160
00 S. A. Kean & Co., Chicago. 8,160
50 Sec.Sav.Bk.&Tr.Co., Tol._ 8,151
60 First Nat. Bank, Girard
8,144
00 Barto, Scott & Co., Colum. 8,125
from March 1 1912 to Sept. 1 1916
Stacy & Braun, Toledo
Well, Roth & Co., Cln
8,190
New First Nat. Bk., Colum. 8,189
Hayden, Miller & Co., Cleve 8,184
First Nat. Bank, Cleve
8,180
Breed & Harrison, Cln
8,175
Maturity $800 each six months
clusive.
v
60
00
00
00
80
00
In¬
fc*
Globe School District (P. O. Globe), Ariz.—Bonds De¬
feated.—An election held July 2 resulted in the defeat of a
proposition to issue $60,000 high-school-building bonds.
The vote was 216 “for” to 110 “against,” a two-thirds ma¬
jority being necessary to carry.
Golden's Bridge Fire District (P. O. Golden's Bridge),
Westchester County, N. Y.—Bond Sale.—Mrs. Julia Brady,
offering par, was the successful bidder for $5,500 5% regis¬
tered bonds offered
on
June 28.
Denomination $500.
Date July 1 19101
Interest semi-annually at the
Mount Klsco National Bank of Mount Klsco.
Maturity on July 1 as fol¬
lows:
$500 yearly from 1911 to 1917 Inclusive and $1,000 In each of the
years
1918 and 1919.
Bonded debt, this Issue.
Greenfield, Mass.—Note Offering.—Proposals will be re¬
Blake Allen,
notes.
ceived until 5 p. m. to-day (July 9) by William
Town Treasurer, for $45,000 4% coupon school
Denomination $1,000.
Date July 1 1910.
Interest semi-annually at
the First National Bank, Boston.
Maturity $8,000 yearly on July 1 from
1911 to 1915 Inclusive and $5,000 July 1 1916.
Said notes are tax-free.
They will be certified as to genuineness by the First National Bank of
Boston and their legality approved by Ropes, Gray & Gorham of Boston,
whose opinion will be furnished to the purchaser.
Notes will be delivered
July 15.
Gross Point, Cook
County, Ill.—Bond Sale.—The $1,000
street-improvement bonds voted on April 19 (V. 90, p. 1192)
have been disposed of.
Guntersville, Marshall County, Ala.—Bond Sale.—We are
informed that the $15,000 water-works and school bonds
offered without success on April 4 (V. 90, p. 1192) have been
disposed of at private sale.
Hall County (P. O. Memphis), Tex.—Bond Election.—Re¬
ports state that an election will be held July 30 to vote on
the question of issuing $16,000 good-road bonds.
Hamburg, N. Yv—Bond Sales.—An issue of $6,600 Pierce
Avenue and East Main Street paving bonds, proposals for
which were asked until June 20, was disposed of to a local
bank at par for 5s.
Denomination $1,100. Interest semi¬
annual.
Maturity $1,100 yearly on July 1 from 1915 to
1920 inclusive.
Spitzer & Co. of New York City were the successful bidders
for $45,000 drainage bonds offered on June 28.
The price
paid was $45,137 50 (100.305) for 43^s. Denomination
$1,800. Interest semi-annual. Maturity $1,800 yearly on
July 1 from 1915 to 1939 inclusive.
Hamilton, Madison County, N. Y.—Bond Sale.—An issue
of $4,000 4% 1-4-year (serial) refunding municipal-building
bonds was sold on June 29 to E, W. Cushman at par and
accrued interest.
The only other offer received was one at
par
for part of the issue.
Denomination $1,000.
Date July 1 1910.
National Hamilton Bank In Hamilton.
Interest semi-annually at the
Hannibal School District (P. O. Hannibal), Mo.—Bond
Offering.—This district is offering at private sale $80,000 4%
coupon (with privilege of registration) school-building and
repair bonds. Bids will be received by the Finance Com¬
mittee of the Board of Education.
bonds of $500 each and 50 bonds of $1,000 each
Interest semi-annually at the Hannibal Trust Co.
Maturity 1930, subject to call on or after Aug. 1 1920 at 103.
Bonds will
be ready for delivery Aug. 1 1910.
Denomination 60
Date Aug. 1 1910.
Harrison County (P. O. Logan), la.—Bond Sale.—On
June 10 the $21,170 6% 5-15-year (serial) Latta Drainage
Ditch District bonds offered on that day (V. 90, p. 1506)
were awarded to the Wm. R. Compton Co. of St. Louis on
an
income basis of about 5.40%.
Denomination $500.
Interest semi-annual.
(P. 0. Gulfport), Miss.—Bonds Pro¬
posed.—It is said that the Board of Supervisors has taken
avorable action on a petition for a bond issue of $50,000 for
road improvements.
/'
Date July 1 1910.
Harrison County
[VOL.
LXXXXI.
Hartford,Conn., Northwest Sch. District.—Loan Author¬
ized.—This district
on June 8 authorized the Commissioners
to borrow $49,500 on demand notes to pay for the recent
addition to the school building.
V. 90, p. 1506.
Hattiesburg, Miss.—No Bonds Offered.—The reports
stating that proposals would be received until July 5 for
$15,000 bonds (V. 90, p. 1694) were erroneous.
Hazlehurst, Miss.—Bond Sale.—The Merchants’& Plant¬
$15,000 5% school and
ers' Bank of Hazlehurst purchased
water bonds on July 5 at 101.05.
Denominations: 20 bonds of $100 each and 26 bonds of $500 each.
Date July 1 1910.
Interest annual.
Maturity $100 yearly on July 1 from
1911 to 1929 Inclusive and $13,100 on July 1 1930.
High Bridge ^Hunterdon County, N. J.—Bonds Awarded
in Part.—Of the $35,000 4% 35-year coupon water-worksextension bonds offered on June 11 and described in V. 90,
1569, $15,000 were disposed of to local investors at prices
ranging from par to 101.
Highland Park, Wayne County, Mich.—Bonds to Be Sold
Privately.—This village has made arrangements for the
private sale of the $89,000 Woodward Ave. paving bonds
voted on April 22.
See V. 90, p. 1192.
Holloway School District (P. O. Holloway), Belmont
County, Ohio.—Bond Sale.—Stacy & Braun of Toledo were
the successful bidders for the $6,500 4% coupon school¬
building bonds offered on June 25 and described in V. 90,
p. 1627.
The price paid was par. Maturity $300 yearly on
p.
March 1 from 1913 to 1932 inclusive and $500
1933.
on
March 1
Homellsville School District No. 7 (P. O. Horaell), N. Y.—
were received on July 1 for the
Bonds Not Sold.—No bids
$30,000 4% coupon bonds described in V. 90, p. 1694.
Irene Independent School District (P. O. Irene), Hill
County, Tex.—Bond Sale.—The $8,000 5% 20-year bonds
registered by the State Comptroller on April 18 (V. 90, p.
1193) have been purchased by the State School Board at
par and accrued interest.
Denomination $2,000. Date
Feb. 10 1910.
Interest annually in July.
Jackson Township, Ripley County, Ind.—Bonds Offered
by Bankers.—An issue of $7,500 43^% school-house bonds is
being offered to investors by J. F. Wild & Co. of Indianapolis.
Denomination $500.
Date June 1 1910.
Interest Jan.15 and July 15
at the Napoleon State Bank in Napoleon.
Maturity
from 1911 to 1924 Inclusive and $500 June 1 1925.
$500 yearly on July 15
Bonds are tax-exempt.
Legality of Issue approved by Smith, Duncan, Hornbrook & Smith
Bonded debt, this Issue.
Assessed valuation, $385,605.
Jefferson County School District No. 15 (P. O. Whitehall)*
Mont.—Bond Sale.—The State Board of Land Commis¬
sioners purchased $2,500 6% 5-year
June 25 at par. Denomination $100.
terest annual.
school-house bonds on
Date July 1 1910. In¬
Kalamazoo School District No. 1 (P. O. Kalamazoo),
Mich.—Bond Sale.—On July 5 the $15,000 43^% coupon
building and improvement bonds described in V. 91, p. 53,
were
ing
awarded to the Detroit Trust Co. at 102.34.
are
Follow¬
the bids:
Detroit Trust Co., Detroit.$15,351 00 Harris Tr. & S. Bk., Chic.$15,275 00
H. W. Noble & Co.. Det._ 15,225 00
Woodln, McNear & Moore,
Chicago
15,304 50 S. A. Kean & Co., Chicago 15,157 50
E. H. Rollins & Sons,Chic. 15,285 00
Kendrick, Latah County, Idaho.—Bond Election.—A
proposition to issue $10,000 6% 10-20-year (optional)
water-system bonds will be submitted to a vote of the people
on July 11.
King County School District No. 93, Wash.—Bond Offer¬
ing.—Proposals will be received until 11 a. m. July 16 by
Matt H. Gormley, County Treasurer (P. O. Seattle) for $2,500
coupon school-building and furnishing bonds at not exceed¬
ing 6% interest.
Authority election held June 18 1910.
Denomination $500. Interest
seftii-annually at the County Treasurer’s office or the fiscal agency of the
State of Washington in New York City, at the option of the purchaser.
Maturity 5 years, subject to call after 2 years.
Certified check or draft
for 1 % of bonds bid for, made payable to the County Treasurer, is required.
No bonded debt.
Warrants outstanding, $24 38.
Assessed valuation,
$175,308.
Klickitat County
School District No. 50, Wash.—Descrip¬
tion of Bonds.—The $1,500 school-building bonds disposed
of on June 4 to the State of Washington at par (V. 90, p.
1628, are dated July 1 1910 and mature July 1 1920, but are
subject to call after July 1 1911. They carry interest at the
rate of 6%, payable annually.
Klickitat County School District No. 63, Wash.—Descrip *
tion of Bonds.—We are informed that the $2,000 6-10-year
(serial) school bonds awarded on June 11 to the State of
Washington at par (V. 90, p. 1628) carry interest at the rate
of 6%.
Knoxville, Tenn.—Correction.—We learn that the rate of
interest on the $275,000 30-year refunding bonds awarded
recently to W. H. Gass of the Knoxville Banking & Trust
Co. at 100.552 and accrued interest carry 5% interest and
not 43^% as reported in V. 91, p. 53.
ii?La Crosse County (P. O. La Crosse), Wis.—Bond Sale.—
The following bids were received on July 6 for the $76,000
43^2% 8-15-year (optional) coupon insane-asylum bonds
described in V. 90, p. 1695:
Emery JPeck & Rockwood.
^Chicago
$76,104 50
A. B. Leach & Co., Chic__ 76,100 00
Merchants’ Loan & Tr.Co_ 76,052 00
E. H. Rollins & Sons, Chic. 76,022 80
*
Provided that the money remain
N. W.
Harris
Halsey & Co., Chlc.$76,020
Trust & Savings
Bank, Chicago
*76,000
Milwaukee Tr. Co., Milw. 75,625
John Nuveen & Co., Chic. 73,775
on deposit at 3% for 4 months.
00
00
00
00
July 9
THE CHRONICLE
1910.J
Laramie School District No. 1 (P. 0. Laramie),
Albany
Oounty, Wyo.—Bond Sale.—On June 29 the $55,000 5%
10-20-year (optional) coupon high-school-building bonds
described in V. 90, p. 1695, were sold as follows: $2,000 to
Thomas McHugh, $5,000 to Elise Christensen, $10,000 to
John Symons, $8,000 to Nellie Vagner, $20,000 to Eli
Crumrine and $10,000 to the First State Bank, all of Lara¬
mie.
John Symons paid 101 and accrued interest and the
others paid par and accrued interest.
The following bids
were
also received:
C. H. Coffin, Chicago
<z$55,551 A. B. Leach & Co., Chlcago_b$55,000
Coffin & Crawford, Chicago, a55,275 B. H. Rollins & Sons, Chic. C55.000
S. A. Kean & Co., Chicago. a55,220 Janies W. Rice & Co
<155,000
Woodln.McNearAMoore.Chl. x55,000
b Less $1,000 for expenses,
a Also furnish the bonds tree.
c Less
$1,045 for expenses, d Less $1,550 for expenses, x Less $1,600 for ex¬
penses.
Lawrence County (P. O. Ironton), Ohio.—Bonds Awarded
in Part.—Of the $100,000 4% 20-year coupon turnpike-road
bonds offered on June 29 and described in V. 90, p. 1695,
reports state that $90,000 were awarded to Breed & Harrison
of Cincinnati at 100.01 and accrued interest.
Liberty, Clay County, Mo.—Bond Sale.‘—We are advised
that $20,000 5% 1-10-year (optional) water-plant-improve¬
ment bonds were sold on June 28 to the First National Bank
of Liberty at 100.10.
A bid at par was also received from
the Commercial Bank of Liberty.
Denomination $500.
Date July 1 1910.
Interest semi-annual.
Little Rock Improvement District No. 148
(P. O. Little
Rock), Ark.—Bond Sale.—The Mercantile Trust Co. of St.
Louis was awarded $27,000 5)4% street-asphalting bonds
109
trict decided on June 18 to issue
$6,500 5% 10-20-year (op¬
tional) school-building and site bonds. The bonds will be
offered at an early date.
Memphis, Tenn.—Bonds Authorized.—Ordinances have
been passed providing for the issuance of $300,000 and
$275,000 street-improvofcient 4)4% coupon bonds.
Date Aug. 5 1910. Interest semi-annually at
Memphis or, at the option of the holder, at the United
& Trust Co. in New York City. Maturity Aug. 5 1945.
Denomination $1,000.
the City Hall In
States Mortgage
Milford, Seward County, Neb.—Bonds Not Sold.—No sale
made on June 1 of $18,500 5% gold coupon water and
electric-light-system bonds offered on that day.
was
Denomination $100.
Date March 2 1910. Interest annual. Maturity
March 2 1930, subject to call In any amount after 5 years.
Bonds are
exempt from all taxes.
Milwaukee, Wis.—Bond Sale.—The three issues of 4)4%
1-20-year (serial) coupon bonds, aggregating $480,000, of¬
fered on July 1 and described in V. 91, p. 54, were awarded
to Parkinson & Burr of New York and Boston at 100.71 and
interest—a basis of about 4.41%.
Missoula School District No. 1 (P. O. Missoula), Missoula
County, Mont.—Bond Sale.—On June 25 the $52,000 5%
6-20-year (optional) coupon building and site-purchase
bonds described in V. 90, p. 1696, were awarded to the State
Board of Land Commissioners at par.
The following bids
were
received:
State Bd. of Land Com’rs
C. H. Coffin, Chicago
a
too
$52,000 Well, Roth 6s Co., Clncln
a$52,000
a52,521 S. A. Kean & Co., Chicago..552,500
John Nuveen & Co., Chicago _c52,l 61
Bid not accompanied by the required certified check,
b Bid received
late to be considered,
c For 6% bonds.
Voted.—This district at an election held June 27 authorized
the issuance of $25,000 building bonds.
Montana.—Bonds Awarded in Part.—On May 1 $125,000
bonds were disposed of.
These securities are part of $650,000
bonds authorized for the purpose of building wings to the
State Capitol, $50,000 of which have already been issued.
We are informed that the entire issue of bonds will be
pur¬
chased by the State as an investment of the educational funds.
Los Nietos School District, Los Angeles County, Cal.—
Description of Bonds.—We are advised that the $12,000
Awarded.—No award
on
June 30 at 96.
Denomination $500.
Date July
turity part yearly for eight years.
1
1910.
Interest semi-annual.
Ma¬
Longmont School District (P. O. Longmont), Colo.—Bonds
bonds awarded
on
June 6 to Jas. H. Adams & Co. of Los
Angeles at 101.65 (V. 90,
carry
5% interest.
Denomination
Inclusive.
$500.
p.
1696)
Interest annual.
are
dated June 6 1910 and
Maturity from 1911 to 1934
Lowell, Mass.—Temporary Loan.—On July 6 a loan of
$700,000, payable July 7 1911, was negotiated with F. S.
Mosely & Co. of Boston at 4.34% discount and $3 premium.
A loan of $100,000, payable Nov. 8 1910, was also awarded
to Bond & Goodwin of Boston at 4.06% discount.
Lucas Oounty (P. O. Toledo), Ohio.—Bond Offerings.—
Proposals will be received until 10 a. m. July 12 by Chas. J.
Sanzenbacher, County Auditor, for $35,373 4^% stone and
gravel-road building bonds.
Authority, Sections 6926-6949, General Code.
Denomination $500, ex¬
cept one bond of $373.
Date July 22 1910. Interest semi-annually at the
County Treasurer’s office. Maturity $3,873 on July 22 1911 and $3,500
yearly on July 22 from 1912 to 1920 inclusive. A cash deposit or certified
check for $500 on a bank doing a regular banking business In Toledo Is
required.
The bonds will be delivered
on
July 22 1910.
Proposals will also be received until 10
a. m.
July 19 by
Chas. J. Sanzenbacher, County Auditor, for $12,658 4)4%
stone and gravel-road-building bonds:
Authority, Section 6912, General Code, Ohio Laws.
Denomination $500,
except one bond of $158. Date July 29 1910. Interest semi-annually at
the County Treasurer's office.
Maturity $2,658 In 1 year and $2,500 yearly
from 3 years to 5 years Inclusive.
quired
on a
bank doing
a
Cash or a certified check for $500 Is re¬
regular banking business In Toledo. The bonds
will be delivered on July 29 1910.
In addition to the
above, proposals will also be received
July 28 by the Countv Auditor for $62,308
4)4% stone and gravel road building bonds.
until 10
a.
m.
Authority, Sections 6926-6949, General Code.
Denomination $500, ex¬
cept one bond of $308.
Date, day of delivery. Interest semi-annually at
the County Treasurer’s office In Toledo.
Maturity $6,808 In 1911, $6,500
In each of the years 1912, 1913 and 1914 and $6,000 yearly
from 1915 to
1920 Inclusive.
A cash deposit or certified check on a bank doing a regular
banking business In Toledo for $1,000 Is required. The bonds will be de¬
livered on Aug. 8 1910.
Manchester, N. H.—Temporary Loan.—A loan of $50,000
maturing Dec. 14 1910 has been negotiated with Bond &
Goodwin of Boston at 4.34% discount.
Mangum, Greer County, Okla.— Vote.—We are advised
that 330 votes were cast “for” and 44 “against” the $85,000
6% water, sewer and city-hall bonds voted on June 21. See
V. 91, p. 55.
Maturity Oct. 1 1935.
Marshall, Harrison County, Tex.—Bond Offering.—Pro-
gosals
will be received
until5%12high-school
m. July 12bonds.
by H. S. Rice,
ity Secretary,
for $50,000
o
Date Jan. 1 1910.
call after 10 years.
Interest semi-annual.
Maturity 40 years, subject
Certified check for $1,000 required.
Maryville, Blount County, Tenn.—Bond Offering.—Pro¬
posals will be received until 12 m. July 18 by Will A. McTeer,
City Recorder, for the $30,000 5% coupon school-building
bonds mention of which was made in V. 90,
p. 927.
Denomination $500. Date Jan. 1 1910. Interest, beginning Jan. 1
1911,
„
payable annually
No debt at present.
at the Recorder’s office.
Maturity Jan. 1 1930.
Assessed valuation 1909, $647,110.
Mason Special School District (P. O. Mason), Warren
County, Ohio.—Bond Bids.—The following bids were received
on June 8 for the
$25,000 4)4% school-building bonds,
awarded to the First National Bank of Cleveland at 102.321
Montgomery Oounty (P. O. Dayton), Ohio.—Bonds Not
4)4%
was
made
on
June 30 of the $25,000
Memorial Building equipment bonds described in
V. 90, p. 1696, because the sale was not properly advertised
in a newspaper with a general circulation throughout the
State.
We are advised that the issue will be re-advertised
and sold about Aug. 1 1910.
Montgomery County (P. O. Conroe)., Tex.—Bond Election
Postponed.—The election which was to have been held June 9
to vote on the question of issuing $40,000 bridge bonds was
“called off temporarily.”
Montpelier, Vt.—Temporary Loan.—A temporary loan of
$40,000 has been awarded, it is stated, to the Capital Sav¬
ings Bank of Montpelier at a 5% discount.
Moorhead Independent School District (P. O. Moorhead),
Monona County, la.—Bond Sale.—On June 18 the $6,400
4)4% school-building bonds described in V. 90, p. 1629,
were awarded to John Nuveen & Co. of
Chicago.
Mountain View School District (P. O. Mountain View),
Santa Clara County, Cal.—Bond Sale.—On June 27 the
$9,500 4)4% 2-20-year (serial) high-school-addition bonds
voted recently (V. 90, p. 1629) were awarded to the San
Jose Safe Deposit Bank for $9,591, the price thus being
100.955.
Denomination $500.
Date June 1 1910.
Inter¬
est semi-annual.
Mt. Calm Independent School District (P. O. Mt. Calm),
Tex.—Bond Sale.—The $10,000 5% 10-40-year (optional)
bonds registered by the State Comptroller on June 2 (V. 90,
were purchased by the State Permanent School
July 1 at par and accrued interest.
Mt. Vernon, Westchester County, N. Y.—Bond Sale.—On
July 5 the $25,000 4)4% 36-40-year (serial) coupon highwayimprovement bonds described in V. 90, p. 1696, were bought
by Adams & Co. of New York City at 103.20—a basis of
about 4.329%.
Following are the bids:
p. 1696)
Fund on
Adams & Co., New York_$25,800 00 Parkinson & Burr, N. Y..$25,552
N. W. Halsey & Co., N. Y. 25,796 75 Ferris & White, N. Y____ 25,530
N. W. Harris & Co., N. Y. 25,770 25 A. B. Leach & Co., N. Y-_ 25,500
Spltzer & Co., New York. 25,583 00 O’Connor & Kahler, N. Y. 25,470
R. L. Day & Co., N. Y... 25,560 25
75
00
00
00
Nassau County (P. O. Mineola), N. Y.—Bond Offering.—
Proposals will be received until 12 m. July 11 by Charles F.
Lewis, County Treasurer, for $110,000 4)4% road-construc¬
tion bonds.
.
Authority Chapter 564, Laws of 1910. b Denomination $1,000. Date.
linterest semi-annually
‘
“
July 1 1910.
at the County
ity l
Treasurer’s
office
In Mineola.
Maturity $11,000 yearly from 1920 to 1929 Inclusive. The
bonds are exempt from taxation.
Certified check for 10% of bid, payable
to the County Treasurer, Is required.
Official circular states there Is no
litigation pending or threatened; also that there has never been any
default In the payment of principal or interest.
'
*
Naylor Drainage District No. 1, Ripley Oounty, Mo.—
Bond Sale.—A. G. Edwards & Sons of St. Louis have pur¬
chased $32,676 84 6% bonds, dated May 11910 and maturing
part yearly from 1913 to 1930 inclusive.
New Barbadoes Township School District, N. J.—Bond
Offering.—Proposals will be received until 7:30 p. m.
July 11 by G. N. Comes, Clerk of School District (P. O.
Hackensack), for $16,400 4)4% bonds. Interest semi¬
annual.
Certified check for $200 is
required.
Bedford, Mass.—Bond Sale.—This place, it is re¬
ported, has awarded $50,000 4% highway bonds to Blodget
& Co. of Boston at 100.159.
Stacy & Braun, Toledo
25,302 50
Maturity July 1 1920.
Maxwell School District (P. O.
New Berlin, Stark Oounty, Ohio.—Bond Sale.—The
Maxwell), Caldwell
County, Tex.—Ronds Voted.- By a vote of 39 to 5, this dis¬ $1,000 5% 3-year coupon park-purchase bonds offered on
1696).
First Nat. Bank, Cleve___$25,580
New First Nat. Bk.,Colum 25,527
W. R. Todd & Co., Cln... 25,511
Mason Bank, Mason
25,462
25
00
00
50
C. E. Denlson&Co.,Cleve_$25,393 25
Hayden, Miller & Co., Cleve. 25,376 00
Otis & Hough, Cleveland. 25,315 00
New
110
THE CHRONICLE
May 30 and described in V. 90, p. 1439, have been sold to
Literary Association at 102.50 and
the Canton Public
accrued interest.
[VOL.
will be submitted to a vote of the people on July 14.
A like
amount of bonds was authorized at an election held March 28.
V. 90, p. 928.
If these are the same securities, we have not
Newburg (P. O. Cleveland), Ohio.—Bond Sale.—The five yet been advised why they
issues of
4^% street-improvement assessment bonds aggre¬
gating $18,159 80, described in V. 90, p. 1697, were sold
LXXXXI
voters.
are
being re-submitted to the
Pawtucket, R. I.—Bids Rejected.—The bids received on
July 6 for the five issues of 4% coupon bonds, aggregating
$580,000, described in V. 91, p. 55, were rejected.
$4,760 $3,295 80 $3,096 $3,168 $3,840
Pontiac School District (P. O. Pontiac), Oakland County,
bonds,
bonds,
bonds,
bonds, bonds
First National Bank, Cleveland..$27 10
$25 90 $25 40 $25 10 $16 90 Mich.—Bond Sale.—The $80,000 4J^% 8-15-year (serial)
Hayden, Miller & Co., Cleveland. 22 00
19 00
19 00
12 00
21 00
school-building and site bonds voted on May 26 (V. 90,
Seasongood & Mayer, Cincinnati. 12 00
8 20
8 00
8 00
2 00
Otis 8s Hough, Cleveland
(for the five Issues) $25 00
p. 1509) were sold on July 5 to E. H. Rollins & Sons of Chi¬
Maturity part of each issue yearly from 1911 to 1915 inclusive.
cago and H. W. Noble & Co. of Detroit at their joint bid of
Note Sale.—The $3,868 08 5% East 109th Street notes 103.07 and accrued interest—a basis of about
4.162%. The
also offered on June 30 were bought by Hayden, Miller & Co. bonds are dated
July
1
1910.
Denomination
$1,000. Int¬
of Cleveland.
Maturity two years.
erest semi-annual.
Newburgh, Orange County, N. Y.—Bond Sale.—The
Portsmouth, Norfolk County, Va.—Bonds Not Sold.—No
$158,000 4% registered water-works-improvement bonds satisfactory bids were received on June 30 for the three
due March 1 1930 and described in V. 90, p. 1629, were sold issues of
43^% 30-year gold coupon bonds aggregating
June 23 to N. W. Harris & Co. of New York City at 95.167.
$250,000 described in V. 90, p. 1571.
New Rochelle, N. Y.—Bond Sale.—On July 5 the follow¬
Provo City, Utah County, Utah.—Bond Offering.—Pro¬
ing 4^% registered bonds, described in V. 91, p. 54, were posals will be received until 8 p. m. July 11 by Ralph Elliott.
awarded to Adams & Co. of New York City:
City Recorder, for $90,000 5% coupon water-supply bonds,
$17,000 fire-department bonds at 101.48.
Maturity $1,000 yearly on
Maturity 20 years, subject to call after 10 years. Date
May 1 from 1915 to 1931 Inclusive.
55,000 school bonds at 101.75. Maturity $5,000 yearly on May 1 from
July 11 1910.
1920 to 1930 Inclusive.
Richland (Town) and Richland Center (City) Joint School
21,421 sewer-construction bonds at 101.20. Maturity $1,000 yearly on
May 1 from 1911 to 1930 inclusive and $1,421 on May 1 1931.
District No. 2, Wis.—Bond Sale.—On July 1 the $60,000
Bond Offering.—Proposals will be received until 8 p. m. 43^% 1-15-year (serial) high-school-building bonds men¬
July 12 by George H. C. Lischke, City Clerk, for $4,500 tioned in V. 90, p. 1257, were awarded to the Harris
Trust & Savings Bank of Chicago at par and accrued interest
4registered park bonds.
June 30 to the First National Bank of Cleveland at 100.663
The following premiums were offered for the bonds:
on
_
...
Denomination $1,000, except one bond of $500.
Date July 1 1910. In'
terest May 1 and Nov. 1 at the City Treasurer’s office.
Maturity May 1
1916.
Bid must be made on a printed form furnished by the City Clerk
and be accompanied by a certified check on an Incorporated bank or trust
company In New York State for 5% of bonds bid for, made payable to the
City Treasurer.
The bonds will be delivered
on
July 19 1910.
Newton County (P. O. Kentland), Ind.—Bonds Not Sold.—
An issue of $63,500 5%
June 25.
bonds
was
offered without
success on
New York City.—Bond Sales.—The Sinking Fund of this
city during the month of June purchased at par the following
bonds:
Purpose—r
int.Rate. Maturity. Amount.
3
1959
$60,525
4
1959
1,472
Various municipal purposes
Rapid transit bonds
Assessment bonds
3
1910
Total
500
$62,497
The following revenue
also issued during June:
bonds (temporary securities)
Interest.
Revenue
Revenue
Revenue
Revenue
Revenue
bonds,
bonds,
bonds,
bonds,
current
current
current
current
expenses
*
4
S%
3K
4H
expenses
expenses
expenses
bonds, special
Total
were
Amount.
$3,675,000
200,000
6,000,000
5,400,000
205,000
$15,480,000
New York State.—Rond Sale.—The $200,000 5% 5-44year (serial) registered or coupon Canaseraga
ment bonds, bids for which were opened on
Creek improve¬
July 1 (Y. 90,
p. 1570), were awarded to the Windsor Trust Co. of New
York City at 103.13—a basis of about 4.782%. The other
bids received
were as
follows:
W. N. Coler & Co., N. Y
103.01
Jas. A. Hutchinson, Boston. 101.61 James McCall,
White 8b Co., New York
N. Y
*100.50
•
All
or
any part.
Bath
$1,000..102.33
1,000..102
1.000..101.56
1,000..101.27
1.000..100.78
North Attleboro,
Mass .—Temporary Loan.—A loan of
$40,000 has been negotiated with Bond & Goodwin of Boston
at 4.12% discount.
Loan matures Dec. 1 1910.
North Bend School District No. $ (P. O. North Bend),
Dodge County, Neb.—Bonds Offered by Bankers.—The $30,000 5% 10-20-year (optional) coupon school-house bonds
voted last March (V. 90, p, 799) are being offered to in¬
vestors by H. T. Holtz & Co. of Chicago.
Denomination $500.
Date June 1 1910.
Interest annually at the fiscal
agency of Nebraska in New York City.
Total bonded debt, this issue.
Assessed valuation, $335,000.
Real value (estimated), $2,000,000.
North Dakota.—Bonds Purchased by State in June.—The
following 4% bonds, aggregating $62,700, were purchased
at par by the State of North Dakota during June:
Bottineau (City), Bottineau County—$14,000 funding bonds dated Feb. 1
1910 and due $2,000 Feb. 1 1920, $2,000 Feb. 1 1925 and $10,000 Feb. 1
1930.
Carroll School District No. 8, Billings County—$1,100 school-building bonds
dated June 1 1910 and due June 1 1930.
Center School District No. 11, Oliver County—$750 school-building bonds
dated March 1 1910 and due March 1 1295.
Drayton Special School District* Pembina County—$2,500 refunding bonds
dated June 1 1910 and due June 1 1930.
Grand Forks—$16,000 water-main bonds dated March 1 1910 and due
$1,000 yearly on May 1 from 1911 to 1926 inclusive.
Iowa School District No. 24, McLean County—$500 school-building bonds
dated June 1 1910 and due June 1 1930.
Lockwood School District No. 69, Ward County—$1,000 funding bonds
dated June 1 1910 and due June 1 1930.
*
Mylo School District No. 26, Rolette County—$3,500 school-building bonds
dated June 1 1910 and due June 1 1930.
Pembina County School District No. 46—$2,150 school-building bonds
dated June 1 1910 and due June 1 1922
Washburn (City), McLean County—$18,000 water-works bonds, dated
June 1 1910 and due $4,500 June 1 1915 and $900 yearly on June 1 from
1916 to 1930 inclusive.
Webber School District No. 84, Mountrail County—$2,000 school-building
bonds dated June 1 1910 and due Juue 1 1930.
Williams County School District No. 37—$1,200 school-building bonds
dated March 1 1910 and due March 1 4930.
*
Sale previously
reported In V. 90, p. 251.
Opelika, Lee County, Ala .—Bond Election.—A proposition
$85,000 5% 30-year municipal water and light bonds
to issue
Denomination $1,000.
Date Feb. 1 1910.
Interest annual.
Riverside, Cal.—Bond Election.—According to local papers,
a proposition to issue $250,000 school bonds will be submitted
to the voters on July 15.
Roberts County Common School District No. 1, Tex.—
Bond Offering.—Proposals will be received until 10 a. m.
July 15 by W. Coffee, County Judge (P. O. Miami), for the
$20,000 5% 10-20-year (optional) bonds registered by the
State Comptroller on June 17.
Date April 10 1910.
check for 5% of bonds,
Interest annually In Austin or Miami.
Certified
payable to the County Judge, Is required.
Rochester, Beaver County, Pa.—Price Paid for Bonds.—
are advised that the $20,000 43^% coupon funding and
refunding bonds, recently awarded to H. P. Taylor & Co. of
Pittsburgh (V. 90, p. 1698), were disposed of on a basis
of about 4.20%.
Maturity part yearly on June 1 from 1932*
We
to 1939 inclusive.
Rome, Ga.—Bonds Proposed.—Local papers state that
city has under consideration the issuance of approxi¬
mately $250,000 bonds.
Salem, Mass.—Bids.—The following bids were received on
June 30 for the $75,000 loan awarded on that day to Bond
& Goodwin of Boston at 4.05% discount (V. 90, p. 55):
this
Discount.
Discount.
Bond & Goodwin, Boston
4.05% Lorlng, Tolman 8b Tup per,
Blake Bros. 8b Co., Boston
Boston
*4.06%
4.10%
Old Colony Trust Co., Boston_4.10% Estabrook 8e Co., Boston
4.15%
*
And 75 cents premium.
Maturity Oct. 20 1910.
Salem Township, Delaware County, Ind.—Bonds Offered
by Bankers.—School-house 43^% bonds amounting to $18,000 are being offered to investors by J. F. Wild & Co. of
Indianapolis.
Denomination $1,200.
Date June 1 1910. Interest semi-annually at
the Commercial Bank id Dalevllle, Ind.
Maturity $1,200 yearly on June 1
from 1911 to 1925 inclusive.
Bonds are exempt from taxation.
Legality
of issue approved by Smith, Duncan, Hornbrook 8b Smith.
Bonded debt,
Assessed valuation, $1,558,685.
this Issue.
Salt Lake City School District (P. O. Salt Lake City),
Salt Lake County, Utah.—Bonds Not Sold.—Up to June 18
no sale had yet been made of the $700,000 4% 20-year gold
coupon school bonds mentioned in V. 90, p. 1319.
We are
advised that the Board of Education will now endeavor to
dispose of $200,000 of these bonds, the same to be delivered
July 1 or Aug. 1 1910.
Sandusky, Ohio.—Bond Offering.—Proposals will be re¬
ceived until 12 m. July 11 by Joseph Loth Jr., City Auditor,
for the following 4% bonds:
$20,000 general refunding bonds. Denomination $1,000. Date Aug. 1
1910.
Maturity Aug. 1 1919.
11,500 Washington St. paving (city’s portion) bonds.
Denomination
$500. Date May 1 1910. Maturity May 1 1919.
Denomination $500.
15,000 Franklin St. paving (city’s portion) bonds.
Date May 1 1910.
Maturity May 1 1919.
400 Nell St. paving (city’s portion) bonds.
Denomination $100.
Date May 1 1910.
Maturity May 1 1919.
Interest semi-annually at the City Treasurer’s office.
Bids must state
the amount offered for each issue separately and shall be accompanied by
a certified check in the sum of $1,000 guaranteeing the terms of the bids.
Schenectady County (P. O. Schenectady), N. Y.—Bond
Offering.—Proposals will be received until 12 m. July 15 by
Winne, County Treasurer, for $10,000 4^% court-house
jail bonds. Interest semi-annual. Certified check for
2% is required.
Scotia, Schenectady Oounty, N. Y.—Bond Sale.—On July 5
the six issues of bonds aggregating $8,600 due Aug. 1 1926
and the $6,000 drainage bonds due Aug. 1 1927 were sold to
Isaac W. Sherrill of Poughkeepsie as 5s.
A bid for 5s was
also received from W. N. Coler & Co. of New York City.
A
description of these securities was given in V. 90, p. 1698.
Seattle, Wash.—Bond Offering.—Proposals will be re¬
ceived until 12 m. July 30 by W. J. Bothwell, City Comp-
J. I.
and
July 9 1910.
THE CHRONICLE
i
troller and ex-officio City Clerk, for the
bonds at not exceeding 4^£% interest.
following
coupon
$1,000,000 park bonds to bear the date of their actual Issue and become due
20 years from that date.
421,000 gold general municipal bonds.
Date July 1 1910.
Maturity
$20,000 yearly on July 1 from 1911 to 1929 inclusive and
$41,000 July 1 1930.
400,000 gold general municipal bonds.
Date July 1 1910.* Maturity
$20,000 yearly on July 1 from 1911 to 1930 inclusive.
The above bonds were voted on March 8 1910.
The $1,000,000 park
bonds were offered without success on June 4.
See V. 90, p. 1630.
Interest
on all of the Issues Is payable semi-annually at the fiscal
agency of the
State of Washinton In New York City.
Certified check on a Seattle bank
for 2H% of bonds bid for Is required.
Seneca
County (P. 0. Waterloo), N. Y.—Bond Offering.—
p. m. July 11 by Fred. G.
Smith, County Treasurer, for $14,075 56 registered highway
Proposals will be received until 2
bonds.
Date July 15 1910.
Interest semi-annually at the County Treasurer’s
office.
Maturity $2,345 92 yearly.
Certified check for 5%, payable to
the County Treasurer, is required.
No debt at present.
Sheridan, Sheridan County, Wyo.—Bond Sale.—James
Kennedy of Fargo, offering par, was the successful bidder for
the $270,000 6% 1-10-year (serial) coupon Paving District
No. 1 bonds offered
on
June 27 and described in V. 90,
g.leveland,
1698. AO.bid was also received from M. F. Bramley of
Sheridan County School District No. 33 (P. O. Ranchester),
Wyo .—Bond Sale.—The State of Wyoming, offering par and
accrued interest, was the successful bidder on June 23 for
the $3,500 5% bonds described in Y. 90, p. 1630.
Bids
were also received from Jas. N.
Wright & Co. and Keeler
Bros., both of Denver. Maturity $250 yearly, beginning
July 1 1917.
Southampton, Suffolk County, N. Y.—Bond Sale.—On
July 1 the $25,000 fire-proof-municipal-building bonds, a de¬
scription of which was given in V. 91, p. 55, were awarded to
the Sag Harbor Savings Bank at par for 4)4s.
Adams & Co.
of New York bid $25,0Q7 for 4J^s and A. B. Leach & Co. of
New York offered 100.07 for 4.40s.
Maturity on Jan. 1
as follows: $500 in each of the
years 1911 and 1912, $1,000
yearly from 1913 to 1918 inclusive and $3,000 yearly from
1919 to 1924 inclusive.
Springfield, Ohio.—Bond Offering.—Proposals will be re¬
ceived until 8 p. m. July 12 by Wm. H. Mahoney,
City
Clerk, for $11,455 26 5% coupon Main St. sewer-construc¬
tion (city’s portion) bonds.
Denomination $500, except one bond for $455 26.
Date Sept, 1 1910.
Interest semi-annually at the City Treasurer’s office.
Maturity $8,000
Sept. 1 1918 and $3,455 26 Sept. 1 1922. Certified check for 5% of bonds
bid for is required.
Springfield School District (P. O. Springfield), Ohio.—
Offering.—Proposals will be received until 2 p. m.
July 16 by W. H. Holmes, Clerk Board of Education, for
$100,000 4J4% coupon high-school-building bonds.
Bond
Authority Section 8991, Revised Statutes
Denomination
$1,000.
Date Aug. 1 1910.
Interest semi-annually at the office of the Treasurer
of the Board of Education.
Maturity $10,000 yearly on Aug 1 from 1925
to 1934 inclusive.
Bonds are exempt from taxation.
Certified check for
$5,000, payable to the Board of Education, is required.
111
Toledo, Ohio.—Bond Sales to Sinking Fund.—During the
quarter ending June 30 the following 5% coupon bonds were
disposed of to the Sinking Fund:
$10,424 83 Sewer No. 1079 improvement assessment bonds. Date Jan. 17
1910.
Maturity part each six months from March 17 1911 to
Sept. 17 1915 inclusive.
5,650 38 Summit Avenue Improvement bonds.
Date Jan. 7 1910.
Ma¬
turity part each six months from March 7 1911 to Sept. 7 1915
Inclusive.
.
1,623 56 Hobart Street No. 1 bonds.
Date March 18 1910.
Maturity
part each six months from Sept. 18 1911 to March 18 1915
Inclusive.
237 76 Sewer No. 1,084 bonds.
Date April 16 1910.
Maturity part
each six months from March 16 1911 to Sept. 16 1912 inclusive.
9,028 92 Consaul Street No. 2 bonds.
Date March 30 1910.
Maturity
{>art
each six months from March 30 1911 to Sept. 30 1915
ncluslve.
12,429 08 Parkwood Avenue No. 7 bonds.
Date April 14 1910.
Maturity
one bond each six months from March 14 1911 to March 14
1915
Inclusive.
Interest semi-annually at the Northern National Bank In Toledo.
In addition to the above, an issue of $30,000 4%
20-year
park boulevard bonds, dated June 1 1910, was also taken by
the Sinking Fund.
Toulon, Stark Gounty, Ill.—Bonds Voted.—The election
held June 28 resulted in favor of the proposiiton to issue the
$15,000 5% water-works bonds, mention of which was made
in V. 90, p. 1699.
The vote was 156 to 117.
Trinidad School District (P. O. Trinidad), Colo.—Bonds
Awarded in Part.—On July 1 $50,000 of the $100,000
4^%
high-school-building bonds voted
on June 2 (V. 90, p. 1572)
awarded to H. Moses & Son at par.
The remaining
$50,000 will not be sold, we are informed, until July 1 1911.
were
Denomination $1,000.
turity 30
years,
Date July 1 1910.
Interest semi-annual.
subject to call after 15 years.
Ma¬
Tuxedo (Town) Union Free School District No. 6, Orange
County, N. Y.—Bond Offering.—Proposals will be received
until 12 m. July 20 at the office of Paul Tuckerman, 59 Wall
St., New York City, for $15,000 43^% gold registered bonds.
Denomination
$1,000.
Date July 1 1910.
Interest semi-annually at
City.
Maturity $1,000 yearly on
July 1 from 1911 to 1925 Inclusive.
Legality of bonds approved by Appleton L. Clark, Esq.
The bonds will be deliverable on the day of sale.
the Manhattan Trust Co. in New York
The official notice of this bond offering will be found among
the advertisements elsewhere in this
Department.
(P. O. Pendleton), Ore.—Bond Offering.
—Proposals will be received until 12 m. July 15 by G. W.
Bradley, County Treasurer, for $15,000 5% coupon school
Umatilla County
bonds.
Authority Sub-dlvlslon 31, Section 3389, Bellinger's and Cotton’s Anno
tated Code of the Statutes of Oregon.
Denomination $500.
Date Aug. 1
1910.
Interest semi-annually at the County Treasurer's office.
Maturity
Aug. 1 1930, subject to call after Aug. 1 1920.
Certified check or cash for
$500 Is required.
Bonded debt at present, $10,000.
No floating debt.
Assessed valuation for 1909, $596,654 06.
Union County School District No. 5, Ore.—Bond
Offering.
—Proposals will be received until 3 p. m. July 15 by John
Frawley, County Treasurer (P. O. La Grande), for $50,000
5% gold coupon high-school-building bonds.
Denomination $1,000.
Date Aug. 15 1910.
Interest semi-annually at
the County Treasurer’s office or at some bank In New York
City, at the
Stafford, Stafford County, Kan.—Bond Sale Not Con¬ option
of the purchaser.
Maturity Aug. 15 1930, subject to call after
summated.—On May 17 the $45,000 4J^% water and light Aug. 15 1920. Bonded debt, Including this Issue, $63,500.
Floating debt,
bonds described in V. 90, p. 1196, were awarded to the First $2,000. Assessed valuation for 1909, $1,414,375.
State Bank of Stafford.
We are advised, however, that this
Upper Sandusky, Wyandot County, Ohio.—Bond Election.
—An election has been called for July 15 to vote on a
sale was never consummated, the
pro¬
attorney for the bank
position to issue $5,000 Warpole Street sewer bonds.
having refused to approved the issue.
Bonds Authorized—An ordinance has been passed author¬
Stamford (Town), Conn.—No Action Yet Taken.—We are
ising
the sale of $16,000 Johnson St. paving bonds.
advised, under date of June 16, that nothing is being done
Vernon (P. O. Rockville), Tolland County, Conn.—Bond
at the present time about the sale of the $220,000
4% 30-year
gold school bonds, bids for which were rejected on May 10. Sale.—On June 24 Parkinson & Burr of Boston purchased
at par the $60,000 4% 15-year coupon
See V. 90, p. 1319.
refunding railroad-aid
bonds described in V. 90, p. 1631.
Stuttgart Sewer District No. 1 (P. O. Stuttgart), Arkansas
Warsaw, N. Y.—Bond Sale.—On June 28 $9,900 5%
County, Ark.—Bond Sale.—The $27,000 6% coupon
sewer-construction bonds offered but not sold on April 25 registered funding-judgment bonds were awarded to the
(V. 90, p. 1258) were awarded on June 27 to Farson, Son & Wyoming County National Bank of Warsaw at par.
Denomination
Co. of Chicago at par.
Date July 1 1910.
$3,300.
Interest semi-annual.
Maturity $3,300 yearly on July 1 from 1911 to 1913 Inclusive.
Tacoma, Wash.—Bond Sale.—On June 25 the $100,000
Warwick, Kent County, R. I.—Temporary Loan.—The
gold coupon surface-water-drainage bonds, dated July 1 1910
and described in V. 90, p. 1510, were awarded to the State $375,000 which this town recently borrowed is due as follows:
$175,000 which was loaned by Bond & Goodwin at 4.54%
of Washington at par for
4^%
1-20-year
(optional)
bonds.
discount matures Dec. 5 1910 and $200,000 furnished
The following bids were received for 5% 20-year bonds:
by
Providence banks at 4.50% discount matures Jan. 5 1911.
Seasongood & Mayer, Cin
N. W. Halsey & Co., Chic
Well, Roth & Co., Cin
105.08
Woodln,McNear&Moore,Ch_ 102.777
104.082 Harris Trust & S. Bk., Chlc_102.7125
104.073 A. B. Leach & Co., Chic
101.56
Wm.R.ComptonCo.,St.Louls.l04.073 Emery, Peck «Ss Rock wood, Ch. 101.0795
E.H.Rollins & Sons, Denver_102.79
Otis & Hough, Cleveland
100.625
Seasongood & Mayer also offered 102.04 for 4%s, while
N. W. Halsey & Co. submitted a bid for 43^s.
Tarrant County Improvement District No. 1, Tex—Bond
Sale Not Consummated.—According to Dallas papers, Judge
Terrell of the County Court addressed a letter to the Levee
Commissioners on June 28, declining to ratify the sale of the
$250,000 5% levee and dike bonds to the Texas Building Co.
See V. 91, p. 56.
This company was to take $200,000 of the bonds in
payment for building
the levees and to pay $50,000 In cash for the balance.
According to the
terms of the sale, the
county would lose the accrued Interest of about $10,000, and on account of this feature Judge Terrell declined to ratify the deal,
stating that the law would not permit of the sale unless par value and ac¬
crued interest were obtained.
Washington, Warren County, N. J.—Bond Sale.—The
$60,000 4% coupon or registered
sewer-system-construction
bonds offered on June 27 and described in V.
were awarded to Johnston Cornish at 101.
90,
p.
1699,
Waterloo, Jefferson County, Wis.—Bond Offering.—Pro¬
posals will be received until 7:30 p. m. July 15 by F. E.
Peschel, Village Clerk, for $28,000 4^% coupon water-works
and sewer-system-construction bonds.
Authority Section 943, Revised Statutes,
as
amended by Chapter
413,
Acts of 1909.
Denominations: 4 bonds of $1,000 each, 9 bonds of $2,000
each and 2 bonds of $3,000 each.
Date July 15 1910.
Interest annually
at the Farmers’ & Merchants’ State Bank In Waterloo.
Maturity $1,000
yearly on July 15 fro n 1916 to 1919 Inclusive: $2,000 yearly on June 15
from 1920 to 1928 Inclusive $3,000 June 15 1929 and $3,000 June 15 1930
Bonded debt,
$744,100.
including
this
Issue,
$37,000.
Assessed
valuation
1909.
Watertown, Wis.—Bond Sale.—We are advised that the
$4,000
4% 1-4-year (serial) coupon park bonds described in
Tippecanoe County (P. O. Lafayette), Ind.—Bond Offer¬
ing.—Proposals will be received until 10 a. m. July 11 by V. 90, p. 1196, have been sold to local investors.
F. Lee Duncan, County Treasurer, for
Wayne Township School District (P. O. Good Hope),
$8,000 6% coupon
Wabash Township gravel-road bonds.
Fayette County, Ohio.—Bond Offering.—Proposals will be
Denomination $400.
Date May 15 1910.
received until 12 m. July 11 by C. W. Walker, Clerk Board of
Interest semi-annually at the
County Treasurer’s office. Maturity $400 each six months from May 15
1911 to Nov. 15 1980 inclusive.
Education, for $30,000 5% coupon school-building and siteBonded debt, Including this issue, $32,300.
Assessed valuation, $1,868,610
purchase bonds.
*
.
THE
US
CHRONICLE
Authority ^Sections 7025, 7525 and 7527, General Code of Ohio, De¬
to 1930 inclusive.
20 1910.
nomination $500.
Date July 11 1910. Interest March and September
In Washington Court House.
Maturity on Sept. 1 as follows: $1,500 In
1912, $2,000 In 1915, $2,000 In 1914, $2,500 In 1915 and $4,000 yearly from
1915 to 1920 Inclusive. Certified check for $100, payable to the Clerk
Board of Education, Is rqeulred
The bonds will be delivered within ten
days from the rime of award, Purchaser to pay accrued interest. The
district has no debt at present. Assessed valuation, $1,242,952.
interest period.
Well8ville Union Tree School District No. 1 (P. O. Wells-
ville), Allegheny County, N. Y.—Bond Sale.—N. W. Harris
& Co. of New York City, offering 101.093, were the success¬
ful bidders on June 27 for the following 434% bonds, a de¬
scription of which was given in V. 90, p. 1699:
Aemilius Jarvis&Co.,'Toronto
clusive.
on
on
Aug.
$14,499] Wood, Gundy 6s Co., Toronto$14,437
C. H. Burgess & Co., Toronto 14,457(MaoMahon 6s Helliwell,
The debentures are dated May 20 1910.
Interest annual.
Maturity $2,000 yearly on Dec. 1 from 1916 to 1926 in¬
Maturity $2,000 yearly
The debentures will be delivered
Gamrose, Alberta.—Debenture Election.—An election wil
July 18 to vote on a by-law to issue $2,500 5% 20year park debentures.
Cardiff School District No. 2115 (P. O. Morinville),
Alberta.-—Debenture Sale.-—An issue of $1,200 5% building
and site debentures was disposed of on June 13 to H. O’Hara
& Co. of Winnipeg for $1,178 15—the price thus being 98.179.
Maturity part yearly on Oct. 1 from 1911 to 1920 inclusive.
Glaresholm, Alberta.—Debenture Sale.—The $15,000 5%
20-year water-works-completion debentures mentioned in
V. 90, p. 1700, were sold on July 4 to Aemilius Jarvis A Co.
of Toronto at 96.66.
Following are the bids:
Wellington, Summer County, Kan .—Bond Sale.—During
15,000 bonds.
LXXXXI,
be held
June $2,500 5% improvement bonds were sold to the State of
Kansas at par. Bonds are dated Jan. 1 1910 and mature
from Jan. 1 1911 to 1920, subject to call, however, at any
$22,000 bonds.
(Voii.
Dec. 1 from 1927 to 1931 in-
Calg. 14,257
Edmonton, Alberta.—Debentures Voted.—It is stated that
by-laws
have been passed by the rate-payers providing for
clusive.
the issuance of the following debentures: $175,000 for a new
4,000 bonds. Maturity $2,000 on Dec. 1 in each of the years 1932 and
1933.
hospital, $75,000 for exhibition grounds and $25,000 for a
Youngstown, Ohio.—Bond Offering.—Proposals will be library site.
received until 2 p. m. July 11 by Wm. I. Davies, City
Edmundston, N. B.—Debenture Sale.—J. M. Robinson &
Auditor, for the following bonds:
Sons of St. John purchased $40,000 5% 40-year water-works
$120,000 4% water-works-extension bonds. Maturity $5,000 yearly on
debentures during June. Denomination $500. Interest
Oct. 1 from 1914 to 1937 Inclusive.
semi-annual.
Date July 1 1910. This town has no other
1,800 5% steam roller bonds. Maturity $1,000 Oct. 1 1911 and $800
elusive
•
Maturity $2,000 yearly on Dec. 1 from 1934 to 1938 in¬
15,000 bonds.
Oct. 1 1912.
debt at present.
15,000 5% Marshall Street extension bonds.
Maturity $3,000 yearly
Oct. 1 from 1911 to 1915 inclusive.
410 5% Green Street grading bonds.
Maturity $82 yearly on Oct. 1
Ellice
on
(P. O. St. Lazare), Man.—Debenture Sale.—On
June 21 the $5,000 5% bridge debentures offered on that day
(V. 90, p. 1513) were awarded to C. H. Burgess & Co. of
Toronto at 99.10 and accrued interest.
Following are the
bids:
from 1911 to 1915 inclusive.
2,275 5% M’Klnnle St. ct al. sidewalk bonds. Maturity $455 yearly
on Oct. 1 from 1911 to 1915 inclusive.
^
Date JuQhl8 1910. Interest semi-annually at the City Treasurer’s office.
Certified check on a national bank for 2% of each issue bid for, payable to
the City Auditor, Is required.
Bids must be made upon each issue sepa¬
rately. Purchaser to be prepared to take the bonds not later than July 18,
the money to be delivered at one of the banks in Youngstown or at the City
Treasurers office.
G.H. Burgess A Co., Tor..$4,955 00 W.A.MacKenzle A Co.,Tor.$4,855 00
National Trust Co., Wlnnlp 4,944 50 Aemilius Jarvis A Co., Tor. 4,835 00
Nay A James, Regina
4,910 00 J.G.McIntoshACo.,Reg!na. 4,802 00
J.Addlson Reid ACo.,Regina 4,907 00 Ontario Secur. Co., Toronto 4,757 00
Brent, Noxon A Co., Tor.. 4,871 00
Maturity part yearly for 10 years.
Canada, Its Provinces and Municipalities.
Arthur, Ont.—Debenture Offering.—Proposals will be re¬
Estevan, Sask.—Debenture Sale.—The $10,000 town-hall¬
m. July 13 by D. T. Small, Village Clerk, for
building debentures voted last April (V. 90, p. 1199) have
$5,000 4J4% debentures, due part yearly on Dec. 1 from 1911 beenjsold.
ceived until 12
NEW LOANS.
NEW LOANS.
915,000
$260,000
MEMPHIS, TENNESSEE. UNION FREE SCHOOL DISTRICT NO. 6
TOWN OF TUXEDO
Police Station Bonds
Sealed proposals will pe received by rite under¬
signed until July 18, 1910, at 1 o’clock p. m. for
the purchase of an or any part of two hundred
and sixty thousand ($260,000.00) dollars police
station coupon bonds of the city of Memphis,
Tennessee.
Denomination $1,000.00, dated July
1. 1910, payable July 1, 1950. interest 4 H per
cent per annum, payable semi-annually. New
York or Memphis.
;
illegality of bonds approved by Dillon A Hub-
hard. whose opinion will be delivered to purchaser.
Unconditional bids must be made on blank
forms furnished by undersigned-, and be accom¬
panied by a duly certified check on some solvent
bank in Memphis for five (5) per centum of the
par value of the bonds bid for.
The right is reserved to reject any and all bids.
DAVE HALLE, Chairman.
D. M. ARMSTRONG, Secretary.
H. E. CRAFT.
Police Station
Tenn.
Building Commission,
Memphis,
ORANGE CO.,
NEW YORK
434% BONDS
Sealed bids will be received at the officer of Paul
Tuckerman, No. 59 Wall Street, New York City,
until Noon of the 20TH DAY OF JULY, 1910,
for the purchase of $15,000 Registered Gold Bonds
of Union Free School District No. 6, Town of
Tuxedo, New York.
These bonds, in the denomination of $1,000 each,
bearing interest at the rate of four and one-half
per centum per annum, payable semi-annually
July, 1910, payable
principal and interest at the Manhattan Trust
Company in the City of New York, will be payable
one in each year ensuing the date thereof.
The bonds, approved as to legality by Appleton
L. Clark, Esq., will be delivered upon the day of
INVESTMENTS.
Reynolds, Watson & Co.
Mnbipal aid Csrpsratiss Buds
We offer
La Sallt Straat, Chicago
sale, and no bids will be accepted for less than the
par value of the bonds and accrued interest.
The Board reserves the right to reject any and
NETTING
6%
400 The
JOHN
Specializing In Examination of
Municipal and Corporation Bonds
CHICAGO, ILL.
MUNICIPAL
ESTABLISHED 1885
STATE, CITY A RAILROAD BONDS
H. C. SPEER & SONS CO.
First Nat Bank
Bldg., Chicago
Adrian H. Muller & Son,
WESTERN
AUCTIONEERS.
MUNICIPAL AND SCHOOL BONDS
Regular Weekly Sales
Office. No. 55 WILLIAM STREET.
Corner Pine Street.
So. 2 WALL
BONDS
8TBEBT, NMW TOBK
FORREST A CO.
BANKERS
411 Chestnut St.. PHILADELPHIA. PA.
Municipal and
Corporation Bonds
80 PINE STREET, NEW YORK
EVERY WEDNESDAY
H. WATKINS
LAWYEB
60 STATE STREET, BOSTON
STOCKS and BO NDS
CHICAGO
Rookery
RAILROAD
F. WM. KRAFT
BANKERS
OF
BOND
AND
ISIS FIRST NATIONAL BANK BLDI1..
BLODGET & CO.
exceptional
and dated the first day of
MeCOY & COMPANY
181
very
DRAINAGE
all bids.
Municipal and
Corporation Bords
a
Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL RONDS
TOST NATIONAL BANK BUILDING
CHICAGO
CAMERON & COMPANY
XBBIGATION AND H7DB0ELE0TKI0 BONDS
make attractive
prices to dealers
who purchase entire issues or parts
of issues of bonds secured
by first
mortgage on properties of un¬
questionable
merit.
No
branch
offices.
CAMERON & COMPANY
816 lint National Bank
CHICAGO.
Bldg.,
THE CHRONICLE
July 91910. |
Debentures Not to Be Offered at Present.—The SecretaryTreasurer informs us under date of July 4 that the $25,000
electric-light debentures, also voted at the April election, are
not for sale at the present time.
He further states that the
Council has not yet decided whether or not work on the pro¬
113
fied check for $2,600 Is required with tenders for each of the two lots of
bonds. Purchaser to pay accrued Interest from July l 1910.
Perth County (P. O. Stratford), Ont.—Debenture Sale.—
C. H. Burgess & Co* of Toronto are reported as the purchasers
5% debentures, due part yearly for 15 years.
posed improvements shall be commenced this season.
Picton, H. S.—Debenture Sale.—An issue of $8,500 4J^%
Foam Lake, Sask.—Debenture Sale.—An issue of $2,000 30-year debentures dated July 1 1910 was disposed of last
6% debentures, due part yearly for 15 years, was sold during month to F. B. McCurdy & Co. of Halifax at 98.50.
June to C. H. Burgess & Co. of Toronto.
Prince Albert, Sask.—Debentures Voted.—The following
Grand Falls, N. B.—Debenture Sale.—This town sold $40,- 5% debentures were authorized at the election held June 25
000 5% 30-year water-works debentures to J. M. Robinson & (V, 90, p. 1634):
Sons of St. John.
Denomination $500. Date July 1 1910. $22,500 36-year hospital debentures. Vote, 125 to 33.
5,000 10-year exhibition-building debentures. Vote, 144 to 15.
Interest semi-annual. Total debt, this issue.
The date of offering has not yet been determined upon.
Grimsby, Ont.—Debenture Sale.—The $15,000 4J^% highBed Deer, Alberta.—Debentures Voted.—According to re¬
school-building debentures offered on June 1 (V. 90, p. 1443)
have been sold, it is stated, to the Ontario Securities Co. of ports, this place has voted to issue the following debentures:
Toronto.
$5,500 for cement sidewalks, $4,000 for water-works, $2,500
Maturity part yearly for 25 years.
for plank sidewalks, $500 for fire hose and $500 for a jail.
High River, Alberta.—Debentures Defeated.—The propo¬
St. Mary’s, Ont.—Maturity of Debentures.—-We are in¬
sition to issue the $121,000 5% debentures mentioned in
formed that the $30,174 4% and 4*^% -debentures awarded
V. 90, p. 1701, was defeated at the election held June 27.
Lachine, Que.—Bond Awarded.—It is reported that the last month to C. H. Burgess & Co. of Toronto (V. 90, p. 1701)
$188,000 4J£% 40-year debentures, bids for which were re¬ mature as follows:
$6,000 debentures due in 30 years.
on
June 22 and referred to the Finance Committee
p.
Canada.
57), have been awarded to Banque Provincial of
ceived
(V.91,
Ottawa, Ont.—Debenture Offering.—Tenders will be re¬
Chairman Board of Control
ceived until 12 m. Sept. 2 by the
for the following 4% debentures:
Amount.
Purpose-—
Date.
Term oj Yrs.
14,621 66..Somerset Street Bridge
July 1 1909
20
6,600 00..Parks
July 11910
30
60,000 00..City-Hall
do
30
9,000 0O_-Tuberculosis Hospital
do
30
12,000 00..Contagious Diseases Hospital
do
20
36,500 00..Toll Roads
do 30
30,000 00..Fire Stations
do
20
100,000 00..Electric Light
do
30
145,508 03..Local Improvements
do
20
65,577 52..City’s share. Local Improvements.
do
20
67,800 00..Publlo Schools
July 1 1909
30
60,000 00..Public Schools
July 1 1910
30
21,000 00.-Collegiate Institute
do
30
P Separate tenders to be made on blank forms furnished by the city are
requested for the first ten Issues, aggregating 8471,707 11. and the last three
Issues, aggregating $148,800.
Interest payable Jan. 1 and July 1. Certi¬
of $11,000
24,174 debentures due part yearly for 20 years.
Saskatoon School District, Sask.—Bids.—The following
on June 25 for the $65,000 5% coupon
on that day and awarded, as stated last
week, to Wood, Gundy & Co. of Toronto at 100.33:
bids were received
debentures offered
Wood, Gundy & Co., Tor_$65,215 OOjAemUlus Jarvis &Co.,Tor_ $63,717 55
National Trust Co. Winn. 65,110 OOf Ontarlo Secur. Co., Tor.. 63,707 00
Brent, Noxon a Co., Tor. 64,616 00]
All bidden offered accrued Interest in addition to their bids.
Sydney Mines, N. S.—Debenture Sale.—An issue of $33,500 4J^% 20-year school, water and sewerage debentures was
sold last month to J. M. Robinson & Sons of St. John.
De¬
nomination $500.
Date July 2 1910.
Interest semi-annual
Wentworth
County (P. O. Hamilton), Ont.—Debenture
reports state, has awarded $12,000
4^% registry-office-building debentures to Aemilius Jarvis
& Co. of Toronto “at a slight discount on par.” Maturity
part yearly for 20 years.
Sale.—This county,
TRUST COMPANIES.
TRUST COMPANIES.
The
Manhattan
Trust
Trust
Company of America
37-43 WALL
STREET, NEW YORK.
LONDON OFFICEi
COLONIAL BRANCHi
Company
222
Broadway, New York.
95 Gresham St.
CAPITAL AND SURPLUS $8,000,000
y
-
Temporary Offices
Invites accounts of individuals firms and
corporations.
daily balances.
Pays interest
113 BROADWAY
on
Executes trusts of every
description.
WALL STREET
CORNER NASSAU
The Commerce Court at
All
common
Washington
carriers engaged in inter-State or foreign
commerce are required by law to keep hereafter an agent at
Washington for service of process.
THE AMERICAN MFG. CO.
MANILA, SISAL AND JUTE
-
CHICAGO
Jucjcomttatxl
t Co.
BOSTON
PHILADELPHIA
L. F. DOMMERIGH & GO.
WASHINGTON, D. C.
NEW YORK
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
General Offices, 67 Greene Street
A MONTHLY MAGAZINE OF INTEREST TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES. BANKS. RAILWAYS
AND OTHER PUBLIC SERVICE CORPORA¬
TIONS.
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
niNuinuT
TO BE FOUND IN ALL LEADING CERTIFIED
PUBLIC ACCOUNTANTS* OFFICES.
ST. LOUIS
New York
P. O. BOX IT. MAIN OFFICE.
Sample Copy 15 cents
regarding this law, address
HJiue Corporation
NEW YORK
CORDAGE
65 Wall Street.
For full information
Per Annum $1 50
nun
MiiDAurrr
e*i cc
DISCOUNT ANDt GUARANTEE SALES
CARRY NO
FOR MANUFACTURERS,
aq£NTS
AND
GOODS FOR OWN ACCOUNT
OTHERS
114
THE CHRONICLE
[VOL.
LXXXil
Ssnst ®*mpiroije«.
uoiteo ms M Goepg of lew M,
H. M. BYLLESBY & CO.
Chartered 1553
ENGINEERS
45 and 47 WALL STREET
CAPITAL,
$2,000,000.00
$13,720,622.42
------
SURPLUS AND UNDIVIDED PROFITS
This Company acts as Executor, Administrator. Guardian, Trustee, Court Depositary and In
•ther recognized trust capacities.
It allows Interest at current rates on deposits.
It holds, manages aDd Invests money, securities and other property, real or personal, for estates
earporatlons and Individuals.
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
WILFRED J. WORCESTER, Asst. Sec.
DESIGN. CONSTRUCT AND OPER¬
ATE R4ILWAY, LIGHT, POWER,
HYDRAULIC AND
GAS PLANTS.
EXAMINATIONS and KEPORTS
HENRY E. AHERN, Secretary.
CHARLES A. EDWARDS, 2d Asst.Sec.
218 La Salle
TRUSTEES.
JOHN A. STEWART,
Gustav H. Schwab,
Frank Lyman,
James Stillman,
John Claflin,
John J. Phelps,
W. Bayard Cutting,
William Rockefeller,
Alexander E. Orr,
William H. Macy Jr..
William D. Sloane,
Chairman of the noara.
Lewis Cass Ledyard,
Lyman J. Gage.
Payne Whitney,
Edward W. Sheldon.
George L. Rives,
Arthur O. James,
William M. Kingsley.
William Stewart Tod.
Ogden Mills,
Chauncey Keep
Egerton L. Wlnthrop
Street, CHICAGO
Oklahoma City, Oklahoma,
Mobile, Ala.,
Portland, Ore.
J. G. WHITE & CO.
Engineers, Contractors
Fidelity Trust Company
43-49
Chicago, Ills.
Resources Over $29,000,000
Electric
Railways, Electric Light and Power
Plants, Irrigation Systems Financed,
Designed and Built.
Capital, Surplus and Undivided Profits, Over $9,500,000
as
San Francisco, Cal.
Investigations and Reports on Electric
Railway Gas, Electric Light and Power
Properties, Irrigation Systems, &c.. for
Financial Institutions and investors.
NEWARK, N. J.
Acts
Exchange Place, NEW YORK
London Correspondents:
J. G. WHITE & CO., Limited
Executor, Trustee, Administrator and in all fiduciary capacities.
Guarantees Titles of
Takes entire charge of Real and Personal Estates.
Seal Estate throughout New Jersey.
General
Banking and Savings Departments. Bond Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
9 Cloak Lane,
Cannon St.. E. C.
C. G. YOUNG
Engineering and Construction
Plant,
Methods,
SIXTY
Operation
WALL ST.,
NEW YORK
Public Utilities and Industrial*
Reports for Financing
CENTRAL TRUST COMPANY
Mem. Am. Soc. C. E.
of NEW YORK
54
H. U. WALLACE
Wall Street
ENGINEER
Examinations. Reports, Surveys. Supervision of
oonstruction and operation of Electric and Steam
Railroads. Power Plants, Transmission lines.
Central Stations and Irrigation projects. Ete.
Ex-Supt. Illinois Centra! RR.; Chief Engineer
Illinois Central RR.; and Gen’l Manager Chicago
Lake Shore & South Bend Electric Railway.
Capital and Surplus, $18,000,000
(of which $ I 7,000,000 has been earned)
Authorized
Receives
Acts
to act
as
Executor, Trustee, Administrator
Deposits, subject
as
or
Guardian.
check, and allows Interest on Daily Balances.
Transfer Agent, Registrar and Trustee under Mortgages.
to
Marauette Bldg.
CHICAGO. ILL.
Edmond C. Van Liest
Thomas L
Associated
<
Robert McF. Doble
Wilkinson
Engineers Co.
Examinations, Reports Construction, Operation
Irrigation Enterprises
CHARTERED 1864
417Century Building
Union Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY.
Uptown Office: 425 Fifth Avenue, corner 38th Street,
With Modern Sate Deposit Vaults
Capital $1,000,000
Surplus (earned) $8,000,000
ALLOWS INTEREST ON DEPOSITS.
Acts
as
Executor, Guardian, Trustee, Administrator and in all Fiduciary Capacities
on behalf of Individuals, Institutions or
Corporations.
a
Specialty
DENVER
COLO.
Established 1S80.
A.
L.
REGISTER
&,
CO.
Successors to Pepper & Register
ENGINEERS & GENERAL CONTRACTORS
111 North Broad Street
Philadelphia.
pttntng Ignginecvs.
~IH.
M.CHANCE
Consulting Mining Engineer and Geologist
GOAL AND MINERAL PROPERTIES
Examined, Developed, Managed
eST Drexel Bldg.
PHILADELPHIA. PA
ACCOUNTANTS.
niinoisTnist&Saviii^sBaiik
CHICAGO
Capital and Surplus
$13,400,000
Pays Interest
LYBRAND,
ROSS BROS &
MONTGOMERY
Certified Public Accountant.
Time Deposits, Current and Reserve Accounts.
Deals in Investment Securities and
Foreign Exchange.
on
Transacts
a
General
Trust
CORRESPONDENCE
Business.
invited.
(Pennsylvania)
NEW YORK,
165 Broadway.
Land
PHILADELPHIA,
Title Bldg.
PITTSBURGH,
Union Bank Bldg.
CHICAGO, First National Bank Bldg.
July 9 1910.
THE CHRONICLE
XXIII
Qvn&t ©ompatxles.
The NEW ENGLAND
TRUST COMPANY
OLD COLONY TRUST COMPANY
BOSTON, HASS.
BOSTON, MASS.
Capital and Surplus
CAPITAL, *1.000.000
SURPLUS. *2.000.000
Safe Deposit Vaults
DIRECTORS.
Authorized to act as Executor, and to receive
and hold money or property In trust or on
deposit
from Courts of Law or Equity
Executors.
Administrators, Assignees, Guardians. Trustees
Oorpo rations and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed
on Deposits Subject to Check
OFFICERS
DAVID R. WHITNEY, President
CHARLES F. CHOATE, Vice-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER, Vice-President
JAMES R. HOOPER, Actuary
HENRY N. MARR, Secretary
FRED. W. ALLEN, Asst. Sec. A Treas
THOMAS E. EATON, Asst. Treas.
FRANCIS R. JEWETT, Trust Officer
CHAS. E. NOTT, Mgr. Safe Dep. Vlts
BOARD OF DIRECTORS
William Endlcott, Chairman
Walter C. Bay lies
James G. Freeman
Alfred Bowdltch
Morris Gray
S. Parker Bremer
James R. Hooper
Timothy E. Byrnes
Ernest Lovering
Charles F. Choate
Henry H. Proctor
Alexander Cochrane
James M. Prendergaat
George Dexter
Herbert M. Sears
Philip Dexter
Lawrence M. Stockton
William Endlcott Jr.
Nathaniel Thayer
Francis W. Fabyan
Eugene V. R. Thayer
William Farnsworth
David R. Whitney
Frederick P. Fish
George Wiggles worth
GORDON ABBOTT, Chairman.
FRANCIS R. HART. Vice-Chairman.
Charles F. Adams 2nd
F.
Philip Y. DeNormandle
Philip Dexter
George A. Draper
Lothrop Ames
Oliver Ames
C. W. Amory
William Amory
Charles F. Ayer
John S. Bartlett
Samuel Carr
B. P.
Hon.T.JeffersonCoolIdge
Edwin Farnham Greene
Robert F. Herrick
T. JefTerson Coolldge Jr.
Charles E. Cottlng
AJvah Crocker
COMPANY
CAPITAL,
$2,000,000.00
SURPLUS.
$4,000,000.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
ecutor ,
Administrator, Guard¬
in
all Fiduciary
Capacities.
Certifies Muni.
cipal and Corporation Bonds.
ian
and
B’way & 73rd St.
Geo. H. M9Fadden &
COTTON MERCHANTS
PHILADELPHIA.
Bro.,
NEW YORK.
Liverpool Correspondents*
■rumen
FREDERIC ZEREGA
A CO.
Correspondents:
MCFADDEN BROTHERS A CO.
Havre Correspondents:
SOOIETE DTMPORTATION ET DE COMMIS'N
Mason Smith & Co.,
OTTON COMMISSION MERCHANTS
NEW
ORLEANS, LA.
MEHPHI9, TENN.
Bayers of Spot Cotton.
DALLAS, TEX,
Orders for Contracts Exe¬
cuted In New Orleans, New York,
Liverpool and Havre Markets.
Girard Trust
Company.
Commission Merchants.
COFFEE
COTTON EXCHANGE BUILDING.
NEW YORK.
GEO. B. EDWARDS
Tribune Building. 154 Nassau Street.
Telephone 4218 Beekman.
NEW YORK. N. \
Negotiations, Investigations, Reports,
In or
put of New York City
Satisfactory References
Stephen M. Weld
Sidney W. Winslow
Mississippi Valley Trust Co.
Fourth & Pine Sts., St. Louis.
Capital and Surplus, $10,000,000
CHARTERED 1886.
Acts
as
Executor, Administrator, Trustee.
MANAGERS:
Effingham B. Morris,
Edward J. Berwlnd.
Brown Jr.,
Randal Morgan,
Garrett,
Edw. T. Stotesbury,
H. Gaw,
Charles E. Ingersoll,
I. Gowen,
John S. Jenks Jr.,
Geo. H. McFadden,
Henry B. Coxe,
Henry Tatnall,
Edgar C. Felton,
Isaac H. Clothier,
YVUlIam T. Elliott,
Thos. DeWitt Cuyler,
W. Hlnckle Smith,
C. Hartman Kuhn,
B. Dawson Coleman.
James Speyer,
Broad and Chestnut Streets,
John A.
John B.
William
Francis
PHILADELPHIA
Industrial Trust Company
$3,000,000
3.000,000
-
OFFICERS.
Ward E. Smith, Asst. Treasurer
Chas. H. Manchester, Secretary
H. Howard Pepper, Asst. Secy.
Frederick B. Wilcox,Auditor
DIRECTORS.
John I. Beggs. President Milwaukee Light Heat A
Traction Co.
Wilbur F. Boyle, Boyle & Priest.
James E. Brock, Secretary.
Murray Carle ton. President Carleton Dry Goods C#.
Charles Clark.
Horatio N Davis, President SmithADavis Mfg.Co.
John D Davis. Vice-President.
Auguste B. Ewing.
David R. Francis. Francis, Bro. & Co.
August Gehner, President German-American Bank
S. E. Hoffman, Vice-President.
Breckinridge Jones, President.
Wm. G. Lackey. Vice-President and Bond Offloer
W. J. McBride, V.-Pres. Haskell & Barker Car Co
Nelson W. McLeod, Vice-President GraysonMcLeod Lumber Co.
Saunders
Olney T. Inman
J. Milton Payne
WUUam R. Dupee
Eben N. Littlefield
Otis Everett
C. Prescott Knight
Jesse H. Metcalf
John J. Watson Jr.
Charles H. Allen
John B. Branch
William P. Chapin
Angus McLeod
Ezra Dixon
Howard O. Sturgis
Edward D. Pearce
Englehart C. Ostby
Louis H. Comstock
CENTRAL
TRUST COMPANY
OF ILLINOIS
CHICAGO
Capital and Surplus
-
$2,500,000
CHARLES G. DAWES, President.
A. UHRLAUB, Vice-President.
EDWIN F. MACK, Vice-President.
WILLIAM T. ABBOTT, Vice-President.
WILLIAM R. DAWES, Cashier.
L. D. SKINNER, Asst. Cashier.
WILLIAM W. GATES, Asst. Cashier.
JOHN W. THOMAS, Asst. Cashier.
ALBERT G. MANG, Secretary.
MALCOLM McDOWELL, Asst. Secretary.
WILLIAM G. EDENS, Asst. Secretary.
JOHN L. LEHNHARD, Asst. Trust Officer.
.
BANKING,
SAVINGS
AND
DEPARTMENTS.
Norvell,
President
Norvell-Shaplelgh
Hardware Co.
Robert J. O’Reilly, M. D.
Wm. D. Orthwein. President Wm. D. Orthweln
Grain Co.
Henry W. Peters, President Peters Shoe Co.
H.C. Pierce, Chairman Board Waters-PierceOlI Co.
August Schlafly, August Schlafly & Sons.
R. H. Stockton, President Majestic Mfg. Co.
Julius S. Walsh. Chairman of the Board.
RoUa Wells.
The Trust Company
of North America
CAPITAL
TRUST
31,000,00#
HENRY G. BRENGLE, President.
JOS. S. CLARK. Vice-President.
CHAS. P. LINEAWEAVER, Sec. & Treas.
ADAM A. STULL, Chairman of Board.
DIRECTORS.
BOARD OF DIRECTORS.
Herbert N. Fenner
Samuel P. Colt
George F. Baker
George M. Thornton
Cyrus P. Brown
Cnu. C. Harrington
HOO
503-505-507 Chestnut St., Philadelphia
Cyrus P. Brown, President
Arthur I.. Kelley, Vice-President
Richard A. Robertson
Joshua M. Addeman
James M. Scott
William H. Perry
Arthur L. Kelley
H. Martin Brown
1*0
PROFITS]*>°»02U»UUU
and
A GENERAL FINANCIAL AND FIDUCIARY
BUSINESS TRANSACTED.
on
-
CAPITAL, SURPLUS
or
Individual and
Corporation Accounts.
Acts as Trustee of Corporation
Mortgages.
Depositary under Plans of Reorganization,
Registrar and Transfer Agent.
Assumes entire charge of Real Estate,
Safes to Rent in Burglan-Proof Vaults.
R. H. ROUNTREE & CO
COTTON, GRAIN, PROVISIONS and
Philip Stockton
Charles A. Stone
Galen L. Stone
Nathaniel Thayer
Lucius Tuttle
H. O. Underwood
Eliot Wadsworth
Authorized Reserve Agent for Trust Companies in Maine, Massachusetts and Rhode
islands
H. Martin Brown, Vice-President
Otis Everett, Vice-President
Joshua M. Addeman, Vice-President
Waldo M. Place, Treasurer
Cotton.
Howard Stockton
PRESIDENT. PHILIP STOCKTON.
B. DONHAM
Treasurer. FREDERIC G. POUSLAND
ARTHUR ADAMS
Cashier. GEO. W. GRANT
JULIUS R. WAKEFIELD
Secretary. CHESTER B. HUMPHREY
Trust Officer. F. M. HOLMES
CAPITAL
SURPLUS
125th St. & 8th Ave.
Henry Parkman
Quincy A. Shaw
Vice-Presidents, WALLACE
Providence* R. I.
55 Cedar St.
Herbert M. Sean
Andrew W. Preston
Henry S. Howe
Walter Hunnewell
Richard S. Russell
Charles W. Whittier
E. B. MORRIS, President.
W. N. ELY. 1st Vice-President.
A. A. JACKSON, 2d Vice-President.
C. J. RHOADS, 3d Vice-Pres. and Treasurer.
E. S. PAGE, Secretary.
NEW YORK
Philip L. Saltonstsll
Col. Thos. L. Livermore
Arthur Lyman
Charles S. Mellen
Laurence Minot
Maxwell Norman
Hon. Richard Olney
Robert T. Paine 2nd
Reginald Foster
George P. Gardner
Cheney
Interest Allowed
MORTGAGE & TRUST
Henry C. Jackson
George E. Keith
Gardiner M. Lane
Frederic C. Dumalne
William Endlcott Jr.
Wllmot R. Evans
Frederick P. Fish
Assignee and Receiver.
Financial Agent for Individuals
Corporations.
UNITED STATES
$12,500,000
-
*
Henry G. Brengle.
James Crosby Brown.
John Cadwalader.
E. W. Clark Jr.,
Eckley B. Coxe Jr..
Edwin S. Dixon,
Eugene L. Ellison,
Joseph C. Fraley,
Harry C. Francis,
Henry L. Gaw Jr.,
Howard S. Graham.
J. Levering Jones,
Malcolm Lloyd,
John Mcllhenny.
Richard Wain Mein.
Clement B. Newbold.
John W. Pepper,
William F. Read.
Adam A. Stull,
Edward D. Toland,
Joseph R. Walnwrtght,
William D. Wlnsor.
Samuel F. Houston,
Rhode Island Hospital
Trust Company
PROVIDENCE, R. I.
CAPITAL
$2,000,000
$2,000,000
SURPLUS
DIRECTORS.
Royal C. Taft,
Robert H. I. Goddard,
Robert I. Gammell,
William B. Weeden,
Edward D. Pearce,
Robert Knight,
John W. Danielson,
Herbert J. Wells,
Lyman B. Goff,
•
Howard O. St urges,
Stephen O. Metcalf,
Walter R. Callender,
Edward Holbrook,
James E. Sullivan.
Benjamin M. Jackson.
John R. Freeman,
Charles S. Mellen.
Robert W. Taft,
Webster Knight,
Stephen O. Edwards.
Frank W. Matteaon.
Rowland G. Hazard,
Nelson W. Aldrich,
Samuel R. Dorranoe,
R. H. Ives Goddard Jr.
HERBERT J. WELLS, President.
EDWARD S. CLARK, Vice-President.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAMWELL, Secretary.
PRESTON H. GARDNER, Trust Offioet.
CYRUS E. LAPHAM. Asst. Seo'y.
JOHN E. WILLIAMS, Asst. Sec’y.
HENRY L. SLADER, Asst. Sec’y.
G. A. HARRINGTON. Asst.Tr.Offteev
THE CHRONICLE
XXIV
ffiottcm.
[VOL. LXXXXI.
gtuauxtal.
glttsrojctal.
WOODWARD
& STILLMAN
E. H.ROLLINS & SONS
COTTON MERCHANTS
Fversz a Company
16 to 22 WILLIAM STREET,
BANKERS,
NEW YORK
Negotiate and Issue Loans for Rail¬
roads and Established Corporations.
Buy and sell Bonds suitable for
AMERICAN COTTON OP ALL GRADES SUIT¬
ABLE TO WANTS OF SPINNERS.
Established 1876
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Investment.
Established (a 1850.
Henry Hentz & Co.
206 LA SALLE ST. CHICAGO
Fiscal Agent for Cities and
COMMISSION MERCHANTS
List
16 to 22 William Street, New York.
Execute Ordert for jFuture
on
Corporation*
Application
Delivery
COITON
At the New York. Liverpool and New Orleans
Cotton Exchanges. Also orders for
COFFEE
At the New York Coffee Exchange
GRAIN AND PROVISIONS
at the Chicago Board of Trade and
GRAIN AND COTTON-SEED OIL
At the New York Produce Exchange
Hubbard Bros. & Co.
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION l RAILROAD BONDS.
COFFEE EXCHANGE BUILDING
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
SEND FOR CIRCULARS.
HANOVER SQUARE.
NEW YORK
COTTON
PEABODY, HOUGHTELING & CO.
tTiiar{« SANTS
Liberal Advances Made
on
181 La Salle Street.
Cotton
CHICAGO.
Consignments.
F. H. PRINCE & CO.
BANKERS
[Established 18654
Hopkins, Dwight & Co.
COTTON
■ad
COTTON-SEED OIL.
BOSTON, MASS.
,
GEO. H. BURR & CO.
COMMISSION MERCHANTS
Room 52 Cotton Exchange Building,
NEW YORK.
HIGH-GRADE INVESTMENTS
BANKERS
Commercial
43
Exchange Place
Paper
New York
Members of New York and Boston Stock Bxshfgos
LEHMAN. STERN & CO.. Limited, New Orleans.
LEHMAN BROS.
Nos. 16-22 William Street. New York.
Members oj the Stock. Cotton,
and Produce Exchanges, New
Stephen M. Weld & Co.,
COTTON MERCHANTS,
New York City
First National
Bank Bldg.
Chicago
RONDS
.Dv/iNL/O
42 T
50 Congress St..
111 Broadway
New York
Boston
Members
Bremen, ALBRECHT, WELD A CO.
Chas. S. Kidder & Co.
Siegfr. Gruner & Co.
MUNICIPAL & COR¬
PORATION BONDS
COTTON MERCHANTS
17 South William
Street,
RAY &, CO.
COPELAND A CO..
COTTON BROKERS.
48 Cotton Exchange,
New York.
Orders for future delivery contracts executed on
the New York and Liverpool Cotton Exchanges.
GWATHMEY &. CO.
COTTON MERCHANTS
22
Exchange Place,
-
-
W. T. HATCH
STREET,
CHICAGO
71
ORDERS FOR FUTURE DELIVERY EXE¬
CUTED IN NEW YORK AND LIVERPOOL
EXCHANGES. ? >
COTTON PURCHASED FOR SPINNERS’ USE.
SMITH A HAYNE
Frank B. Hayne (In Comrnendum)
Devitt, Tremble & Go.
HEW ORLEANS, LA.
ORDERS FOR FUTURE DELIVERY EXE¬
CUTED IN NEW ORLEANS, NEW YORK
AND LIVERPOOL MARKETS.
New York
-
HOLLISTER. FISH & CO
BONDS FOR INVESTMENT
BANKERS
Members New York Stock
FIRST NATIONAL BANK BLDG.,
CHICAGO
PHI LA. NATIONAL BANK BLDG.,
PHILADELPHIA
Exchange
Investment Securities
Nassau & Pin.
-
Str..ta, N. Y,
-
■-■■■■
i
■ sn
DominicH & DominicK
H. T. HOLTZ & CO.
preceding page.)
116 BROADWAY
Member. New York stock Exchange.
MUNICIPAL AND
CORPORATION BONDS
Cotton Brokers,
COITON EXCHANGE BUILDING,
on
Broadway,
NEW YORK
56 Beaver Street, New York.
(Other cotton cards
& SONS
BANKERS AND BROKERS
182 LA SALLE
ROBERT MOORE A CO.
%
{New
York Stock Exchange
l Philadelphia
“
“
MEMBERS OF
NEW YORK STOCK EXCHANGE.
Successors to
GEO
STREET
[Established 1868.]
NEW YORK.
WILLIAM
CHESTNUT
PHILADELPHIA, PA.
BOSTON, PHILADELPHIA, PROVIDENCE
Liverpool, WELD & CO.
BONDS
—
Municipal and Corporation
i
-
Sullivan Brothers & Co
cTnw&itiffeihAeverfSo:
1
Street,
San Francisco
Cojfee
York.
Orders executed on the above Exchanges, as well In
New Orleans, Chicago and foreign markets.
82-92 Bearer
Boston
St Louis
Chicago
Philadelphia
Kansas City
Correspondence Invited
171 LA SALLE
STREET, CHICAGO
United Bank Note Corporation Stocks
DICK BROTHERS & C<
BANKERS AND BROKERS.
80 Broad St.,
New York.
Members of N. Y. and Phlin. Stock Kxchaag
New York. New Orleans and Liverpool Cottoc
Exchanges, New York Co flee Exchange
and Chicago Board of Trade.
@FedFRASER