Full text of Commercial and Financial Chronicle : July 9, 1910, Vol. 91, No. 2350 [Copy 2]

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

IV

oinmerriH
VOL. 91.

JULY 9, 1910.

NO 2350.

Published every Saturday by WILLIAM B. DANA COMPANY, Front, line and
Depeysterr lSts., N. Y . C. William B. Dana Prest.; Jacob Seibert Jr., Vlce-Prest,
ana Sec.; Arnold Q. Dana, Treas. Addresses of all. Office of the Company,

,

,

CLEARINGS— FOR JUNE SINCE JAN U AR Y 1 AND FOR W E E K ENDING J U L Y 2.
Week ending July 2.

Six Months.
Clearings at—
1909.
New Y o r k ....................
Philadelphia
............
Pittsburgh....................
B a ltim ore....... ............
Buffalo_______ _______
W a sh in g ton ................
A lbany, - ......................
R och ester..... ...............
S cra n ton ......................
S yra cu se .................... ..
Trenton ..... .................
Wheeling ________ _
R e a d in g ......................
W ilm ington..................
Wilkes-Barre .............
H arrisbu rg........... ......
G rcensburg..................
Y o r k _______________
E r i e ....... .......................
C h e s te r...................... ..
A lto o n a ........................
B ingh am ton ................
F ra n k lin ..... .................
Frederick......................
Total M iddle......... ..

8,364,321,
680,916, 100
230,618, 614
131,778 434
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
0,242, 989
5,500
2,599, 200
4,266 903
3,781 151
2,082, 411
2,054 000
2,071, 800
1,298, 543
1.072 915
9,012.093 073

S
9,111,703,304
573,932,026
199,433,620
119,359,395
38,779,327
2.3,774.854
26,590,853
19,274,089
10,760,030
9,330,380
7,414,045
7,558,463
6,322,788
6,362,683
5.774,916
5,125,240
3,110,371
3,921,220
3,115,047
2,348,919
1,822.629
1,765,300
1,176,025
1,098,945
10,194,864,078

Boston _____________
P rov id en ce ..................
H a r tfo r d ____________
New H aven.................
Springfield....................
Portland ____________
W orcester....................
Fall River............. ......
New B e d fo r d _______
H olyoke........................
Lowell ..........................
Total New England

634,921,703
31,756,660
18,095,221
12,725,421
9,775,150
8,345,298
9,969,490
4,861,183
4.356,793
2,385,779
2,239,922
739,432,566

659,987,105
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,S66
2,147,893
755,023,484

C h ica g o........................
Cincinnati_____ _____
C lev ela n d ......... ..........
D e t r o i t .. . ...................
M ilw a u k ee ........... ..
Indianapolis...............
Columbus ...................
T o le d o ............. ............
P e o r ia ______________
Grand R apid s.............
D a y t o n ______ ______
Evansville _______ __
K a la m a zoo.................
Fort W a y n e ________
Springfield! I l l ______
Youngstow n................
A k r o n ______________
Rockford __________
L exin gton ........... .......
Canton...................... .
South Bend......... ........
Decatur .....................
Q u in cy .........................
Springfield, O .............
Bloom ington...............
Mansfield............. ........
D anville...................... .
J ack son ......... ............ .
Jacksonville, 111____
Ann Arbor...................
Adrian ...................... .
L i m a _____ _________
Saginaw.......................
L ansing......................
Total Middle West
San Francisco_______
Los Angeles_________
Seattle ......... ............
Spokane......................
P o r tla n d ..... ..............
T a co m a .......................
Salt Lake City......... .
Oakland............. .........
Helena ____________
Sacram ento.................
San D ie g o __________
Stockton ....................
F resn o..... .............. ..
San Jose______ _____
North Y a k im a .........
B illin g s......... ............
Pasadena..... .......... ..
B o is e ...................... ...
Total Pacino.........
Kansas C it y ..............
Minneapolis................
Omaha ........... ............
St. Paul........................
D enver_______ ______
St. Joseph..............
Des M oin es______
Sioux C ity.............
D uluth*..................
W ich ita ..................
Topeka ............. ..
D a v e n p o r t...........
Lincoln ..................
Cedar R a p id s.............
Colorado S prin gs____
Fargo . . ________
Sioux F a lls ____
Pueblo ..................
Fremont .............
H astin gs......... ............
Total other W e s t..
Details o f Southern on
Total Southern____
Total all_________
Outside New York

112

000

1,182,174,124 1.186,719,823
115,048,850
101,001,550
71,887,119
83,603,946
79,384,274
62,873,947
48,704,816
53,625,749
35,005,089
39,090,433
25,087,600
25,567,200
16,844,422
18,676,298
11,069,197
12,050.906
10,601,902
10,914,036
9,131,850
10,318,549
8,999,341
7,860,378
5,752.680
5,309,340
4,241,762
4,014,138
4,545,424
4,229,708
4,715.447
4,198,819
5.000. 000
3,460,000
3,513,220
3,080,813
3,094.859
2,951,078
3,142,807
4,715,841
2,340,602
2,424,617
1,946,916
2.000. 413
2,207.656
2,565,348
2,195,420
2,0.33,778
2.547.909
2,046,446
1.710,125
1,580,167
1,525,592
1,736,216
2,228,412
1,612,145
1,090,362
1,088,745
806,667
813,737
144,947
140,651
1,460,938
1,342,790
2.729,621
2,517,500
1,684,482,852
69,068,929

27,898,541
12,447,409
3,497,839
5,328,562

405,948,849
201,942,467
85.317,32'
67,862,31

17,122,811

6,619,031
7,268,760
4,977,627
3,542,434

1,485,000

1,052,622,232

Dec.

1910.

°Z,
S
- 8 .2 52.959,352,496
3,925,512,549
+ 18.6
1,305,900,076
+ 15.6
773,856,406
+ 10.4
248.483,147
+ 6 .7
187,162,076
+ 16.2
149.683,972
+ 3.0
107,362,341
- 1 .3
69,596,020
+ 9.7
60,512,065
+ 11.6
40,635,401
+ 4.6
+ 2.1
46,474,287
41,529,664
13 8
40,142,049
-5.7
-8 1
35,319,813
32.703,757
-7 3
16.4
14.471.047
24,939,143
+ 8.8
- 21 4
22,038,095
- 14,2
14.720,932
12.7
11,115,659
- 17 3
11.974,193
10 4
6,662,923
- 2 .4
6,348,497
- 5 .7 60,136,497,214

S
49.081,520,212
3.283,083.603
1.090,166,969
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
36,883,174
34,012,544
30.S69.869
30,341,658
13,413,565
21,624,015
17,081,944
12,145,169
9,764,221
11,540,300
0,492,871
6,532,340
55,199,352.696

1909.

S
8
%
+ 7.9 2,320,138,083 2,206,216,395
+ 19.0
181.140,803
143,255,610
+ 19.1
57,898,232
54,239,017
43,279,659
32,307,430
+ 12.6
9.014.169
9.199,468
4-14.3
7,208,470
6,948,753
+ 8.9
5,990,674
6,937,273
5,431,675
4,400,000
t 1! ?
3,199,000
+ 11.1
3,062,867
+ 15.4
2,577,116
2,592,820
1,621,542
+ 5 .6
1,607,235
2,000,763
1,064.784
+ 18.7
2,021,568
1,056,505
+ 12.6
1.489,101
1,517,557
+ 18.0
1,415.305
1,403,208
+ 14.4
1,466,025
1,556,025
+ 7.8
1,047,638
776,382
+ 7.9
1,012,168
1,124,770
+ 15.3
863,457
823,884
+ 29.0
528,902
693,826
+ 21.2
424,265
481.337
+ 13.8
425,100
503,800
+ 3.7
280,500
292,000
+ 2.0
_______
.............
— 2.9
+ 8.9 2.650,842.219 2,483,111,983

190S.

1907.

S
S
%
+ 5.2 1,356,536,246 1,770,759,877
107,460,804
159,687,898
+ 26.4
56,851,841
37,972,749
+ 6.7
+ 3 4 .0
28,280,512
30,553,801
9,336,552
8,926,859
— 2.0
4,766,174
+ 4.6
6.149,380
7,002,460
-13.6
5,214,458
5,422,462
+ 24.6
3,989,611
+ 4.4
2,795,855
2,800,290
—0.6
1,826.543
2,603,776
+ 0.9
1,205,261
1,426,004
992.985
- -23.8
1,191.193
1,609,819
- -22.0
— 1.8
1,206,349
1,777,783
—3.3
1,326,147
1,323,971
+ 5 .7
1,259,290
1,000,000
-25.5
510,000
500,000
+ 11.1
773,785
— 4.6
664.775
778,860
+ 31.2
472,701
859,960
-f-13.5
330,060
+ 18.5
559,100
602.700
+ 4.1
255,000
271,974
—
_____ _ _
_______
+ 6 .8 1,569,359,259 2,060,836,726

+ 1.9
+ 9.5
+ 23.0
+ 4.3
+ 11.1
+ 15.0
+ 40.2
— 1.2
+ 27.7
+ 16.4
+ 4.0
+ 3.3

163,266,900
9,715,S00
5,000,052
3,233,700
2,275,372
2,235,454
2,536,527
1,043,991
980,458
622,944
489.924
191,413,122

— 6.3
+ 23.0
-12.8
-10.4
+ 16.7
+ 15.6
+ 29.2
-12.9
+ 9.9
+ 2.9
-11.1
— 4.6

141.930.647
0,020,800
3.787,534
3,060,657
1,765,487
1,840,152
1,332,956
1,021,997
679,092
492,718
412,445
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

— 0.4
7,130,326,001
-12.2 .
632,903,200
486,774,426
+ 16.3
+ 26.3
459,865,407
323,547,794
+ 10.1
229,001,248
+ 11.7
156,009,200
+ 1.9
+ 10.9
112,563.211
+ 8.9
77,602.723
+ 2.9
68,206,144
56,295,190
+ 13.0
56,101,099
+ 14.5
35,395,040
+83
26,515.082
+ 5.7
+ 7.5
26,962,803
27,153,256
+ 12.3
24,436,800
+ 44.5
21,103,290
+ 11.1
-4 .6
22,555,824
+ 50.1
25.504,381
+ 3 .6
1.3,468.178
+ 2.8
12,783.363
+ 13.1
17,431,788
13,485,845
+ 8.0
+ 24.5
16,924,935
+ 8.2
10.419,279
+ 13.8
12,582,401
+ 38.2
11,586,483
+ 0 .1
8,216,074
—0.9
5,017,273
+ 3.1
893,368
+ 8.8
.8,492,054
+ 8.4
15,484,535

6.778,818,494
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
17.483,178
10,991,843
19,188,237
11,555,711
10,676,186
14.000,910
12,098,801
13,919,130
9,022,137
9.379,073
8,820,551
7,451.378
4,303,327
698,561
7.297,840
13,180,166

+ 5.2
— 6.0
+ 21.7
+ 3 0 .7
+ 12.1
+ 13.6
+ 7.5
+ 11.9
+ 7.4
+ 15.1
+ 16.9
+ 12.0
+ 17.8
+ 15.0
+ 6.5
+ 20.1
+ 3 6 .2
+ 20.7
+ 32.7
+ 32.9
+ 16.0
+ 19.7
+ 19.4
+ 6.2
+ 21.6
+ 15.5
+ 34.1
+ 31.4
+ 10.3
+ 10.6
+ 27.9
+ 10.4
+ 16.5

238,047,868
21,073,350
16,005,119
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
284,3S0
255,000
187,775
134,167
14,547
300,000

249,484.164
29.208.150
23,057,215
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
935,572
857.954
710,700
83S.912
755,000
536,962
612,392
568,278
768,101
365,103
468,356
606,880
515,304
318,096

9,464,713,922

+ 7 .2

— 0.3
286,146,608 286,937.718
23,369,350
-17.0
23.515.950
17,567,996 + 15.3
20,254,407
15,937,583 + 21.1
19,307,880
12,529,041
13,219,921
+ 5.5
8,549,431 + 10.1
9,415,583
5,955,500 + 19.0
7.080.400
4,052,127
— 8.3
3,714,731
2,500,403
2,351,623
+ 6.6
+ 4.1
2,401,510
2.499,149
2,102,869 + 14.9
2,415,877
2,168,062
1,751,873 + 23.S
9S9.214 + 19.4
1,180,908
1.067,266
1,160,358
+ 8.7
-19.4
725,538
900,486
998,016
885,180 - -12.8
695,000
796,000
-1 1.6
721,S40
598,776
-20.6
751,911
740,446
-15.6
1,000,000
600.000
-66.7
570,054
450,568 - -27.8
5S0.581
413,155 - -40.5
587,090
510,000 - -15.2
508,055
+ 2.6
553,598
457,462 + 18.6
542,372
289,139 + 31.5
380.112
-10.0
387,637
349,015
323,890 + 3 8 .9
4.50,000
273,028
— 5.9
257,146
+ 5 .5
223,161
210,659
24,952
46,459 — 16.1
358,212
+ 6.1
379,979
450,000
+ 5.5
475,000
495,456 Not Included in total
404,980,265 399,706,790
+ 1.3

326,211,891

363,132,923

49,197,956
42.669.757 + 15.3
14,617,080
15,569,757
+ 6.5
10,976,389
12,105,560
— 9.3
3,224,108 + 40.0
4,513,228
6,837,042 + 3 4 .6
9,206,270
6,279,330
6,065,927
— 3.4
5,823,405
6,088,383
— 1.4
2,976,101
2,326,198 + 27.9
931,109
821,688
-12.0
1,108,679
1,069,542
+ 3.7
934,000 + 23.1
1,150,000
+ 8.4
580,000
535,178
430,109 + 40.5
604,3 47
412.000 + 12.9
405,000
370,757 + 20.0
445,000
206,362 + 13.9
235,00(1
888,929 Not Included In total

32,351,551
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
139,201

39,596,481
11,245,633
9,518,492
2,881,600
6.810.S12
4,591,033
6,429,810
2,549,353
1,072,692

+ 1.9

10,145,668,367
1,122,377,694
406,601,440
301,461.928
120,897,381
249,811,723
138,50.3,979
106,281,487
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

919.197.649 + 22.1
324,407,995 + 25.3
254.521,880 + 18.4
89,301,669 + 35.4
179,058,535 + 3 9 .5
127.329.355
+ 8.8
156.322,200
+ 6.4
46,119,879 + 62.8
— 0.2
22.537,450
23,715,358 + 33.1
25,838.132 + 28.3
1 1.784,227 + 20.3
12,278,581 + 42.4
11,004,872 + 10.4
9,121,415 + 29.9
4,456,047 + 10.8
Not Included In total
15,757,463 + 31.2
2,232,753,373 + 23.2

180.086,337 4 11.0
75,075,1 1 1 4 -13.0
+ 9.2
62,146,927
40,447.790 + 24.5
40,129,936
—0.1
23,291.935 + 18.1
14,800,645 + 15.7
12,470,172
+ 8.6
12,040,477 + 19.5
10,269.932 + 17.7
5.272,205
+ 2.6
5,161,271 + 28.3
5,902.396 + 23.1
4,004,230
+ 8.1
2,920,717 H-21.0
2,959,225 4 28.(1
2,627.735 + 51.8
2,342,751
+ 7.1
1,491,610
— 0.4
Not Included In total
192,906,919 + 12.7

1,294,513.985
526,882,472
42.8,406,928
279.258,331
242,893,252
184,390,423
110.775,299
80,084,477
84,647,412
72,101,266
33,638,839
40,485,006
42,044,027
35,181,688
19,023,563
22,674,030
2.3.8.32,480
15.402,688
9,827,564
3,704.195
3,461,416,918

1,122,758,038 + 15.3
425,093.529 + 23.9
301.218,109 + 18.0
228,107,799 + 22.4
220,027.888
+ 7.3
150,058,952 + 18.2
91,785.803 + 20.7
67,027,485 + 18.4
24,040,477
55,953,795 + 28.9
■ 33.493,804
+ 0.4
32,947.099 + 22.9
37,520,927 + 12.1
27,040,315 + 30.1
17,586.413 ' + 8 .2
10,043,055 + 3 6 .2
15,092,935 + 51.9
13,816,289 + 11.5
9,200,591
+ 6.8
N ot Included In total
2,939,033,426 + 17.8

+ 10.2
—2.4
+ 8.0

4,865,681,356
86,240,511,404
33,290,188.908

4,220.024,966
78,790,532,212
29,709,006,700

174.228,455
7.89S.300
5,744,870
3,609,574
1,950,000
1,933,422
1,963,103
1,197.079
897,174
005,428
551,290
200,578,695

Inc. or
Dec.

4,173,667,044
185,702,500
92,557,095
69,684,025
53,179,147
41,550,977
41,007,505
29.5,80,455
22,540,753
12,506.3,81
12.011,047
4.734,053,829

150,077,993 + 19.6
57,877,950 + 19.3
47.96 1.188
+ 3.2
15,611,615 + 3 3 .7
30,043,843 + 40.3
25,981,256
—6.5
30,230,069
-7 .7
8.248,002 + 50.9
4,521,681
-22.6
4,581,168 + 16.3
4,247,072 4-30.8
2,390,739
+ 9.1
1,944,579 4 43.9
1.964.333 H 10.2
1,69.3,4.31 H 23.6
758.928 H 1 1.6
Not Included In total
+ 7.0
3,078,150
901,414,997 + 16.1

658.531.960
14,155,364,270
5,043.060,960

1910.

4,251,897,417
202,576,500
113,751,525
72,655,183
58.704.275
47,791,214
58,316.979
29,224,547
28,774,188
14,560,599
12,492,004
4,890,804,431

- 3 .8
+ 4.5
+ 16.4
+ 2.6
+ 7.2
+ 20.8
+ 33.5
h3 4
b(i 3
h3.4
F4.3
- 2 .1

Table Clearings by Telegraph and Canadian Clearings on Page 73.




1909.

Inc. or
■Dec.

490,728

____

____

109.738.747

98,039,515

+ 11.9

69.781,623

85,176,684

43,542.228
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
1,623,800
1,043,952
1,000,000
890,000
725.595
701,583
526,939
300,000

38,844,765
10,592,552
14,265.568
8,79.3,424
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
586,643
600,000
568,279
330,500

+ 12.1
+ 17.8
+ 4.6
+ 42.6
— 6.5
+ 18.0
+ 4.9

25,365,740
15,970,250
8,963,641
9,786,354
8,372,992
4,161,970
2,942,160
1,695,798

25,757,299
25,959,104
9,840,240
9,125,338
7,577,441
4,925,507
3,302,769
2,053,927

1,334.355
1,002,742
801,423
1,000,000
694,748
650,000
450.687
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

125,644,258

111,711.675

+ 12.5

84,427.203

95.605,076

+ 15 3
157.512,828
178,587,733
+ 9.5 3,661,206,344 3,450,661,492
+ 12.1 1,341,068,261 1,244,445,097

__

249,600
278,137
186,238
15.000
350,000

+ 21.5
+ 20.0
-1 6 .2
+ 12.5
+ 27.5
-2 1 .0
+ 11.9
+ 23.7
+ 16.9
—7 3
— 9.2

____

+ 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

* N ot Included In total for month and 6 months; comparison Incomplete

THE CHRONICLE

60
CHRONICLE INDEX.

The index to Volume 90 of the “ Chronicle” — which
volume ended with the issue of June 25— is mailed
with this issue. As has been the practice for the past
four years, the index isj issued as a separate pamphlet
for convenience in binding.

THE FINANCIAL SITUATION.
The arguments in favor of higher rates on United
States railroads are steadily multiplying, and 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
comm liters 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
Commission has been a party to many of the proceed­
ings which have resulted in raising operating cost.
Obviously, the m embers of the Commission could
not in such a conspicuous and noteworthy way act
to increase the annual outlays of the railroads and
then refuse to allow the railroads to recoup themselves
through slightly higher transportation charges for a
part, at least, of the extra expense.
The most important element in the present great in­
c rease in operating cost is the higher wage schedules
which the railroads have been forced to grant in order
to avert strikes. As has many times been pointed
out in these columns, these advances will, it is esti­
mated, swell the pay-rolls of the railroads somewhere
between $100,000,000 and $150,000,000 per year.
Some of these advances have been made as a result
of the direct intervention of the Inter-State Commerce
Commission. In not a few instances where railroad
employees demanded higher compensation and railroad
officials felt that they could not accede to the demands,
and a strike was threatened, the Chairman of the
Inter-State Commerce Commission, in conjunction
with the Commissioner of Labor, have acted as medi­
ators under the Erdman law to bring about a settle­
ment of differences. Some other members of the
Commission have acted in a similar capacity. In
every case, too, where services were thus proffered
and accepted, the outcome has been some in­
crease in the wage schedules. These Government
agents in awarding increases may have acted as
a matter of policy, but the fact that they were a party
to the proceeding remains, and it is utterly inconceiv­
able that they should by their acts contribute to
swell the expense accounts of the roads and at the same
time refuse permission to find a new source of income,
through improved rates, to provide for the new outlay.
This very week the Chairman of the Inter-State
Commerce Commission has participated in a proceeding
which will mean a large and general increase in the
pay of the employees of the railroads in an important




[V O L . L X X X X I.

section of the country. 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 was this time the
subject of controversy was the South, and a rupture
of relations between the men and the roads more than
once seemed imminent during the last two or there
weeks. Such an outcome has now been escaped, and
in that there is sincere reason for rejoicing. Thirteen
Southern roads were involved and 10,000 conductors,
brakemen and flagmen, traveling baggage masters,
&c., were affected. According to the accounts in
the Southern papers, the outcome of the adjustment is
that “ in every instance and on every line of the
thirteen roads involved the labor conditions of the
men by the terms of the agreement will be materially
improved.” The mediators were Martin A. Knapp,
of the Inter-State Commerce Commission and Charles
P. Neill, Commissioner of Labor. The agreement
was reached late last Saturday, and it is stated that
until within a day or two of that time scarcely any
likelihood appeared of a satisfactory adjustment.
While mediation was under way the various labor
organizations concerned in the controversy took a
vote on the proposal and a strike was ordered by
a large majority of the men unless the roads should
accede to the. demands made. The officials of the
roads urged that the roads were in no condition to
pay higher wages, insamuch as Southern roads have
made no advances in freight rates. But this argument
was of no avail. The representatives of the labor
organizations insisted that wages in the Southeast
must be “ standardized” — that is that they must be
made to approximate the wages paid for similar
employment in other parts of the country. On the
other hand, the officials felt that to allow a strike
to occur would mean great inconvenience to the
traveling and shipping public and would also involve
serious financial losses to the companies. Such a
result has fortunately been averted.
Of course, “ standardizing” of wages in the South is
to be accomplished at the expense of the roads, but
that very circumstance will force the Commission to
allow increases in rates, though Southern roads have
not thus far made any request of that kind. The ad­
vances in wages are to be made in two installments.
The first will date from July 1 and the other will go

J u l y 9 1910.|

THE CHRONICLE

61

compared wth other roads. 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 R R ., 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 Pennsyb
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
While believing, however, that consent will unques­ extra outlay.
tionably be obtained for increases in rates, we think
The iron and steel trade is now in a condition of
the time has arrived for the exercise of sharp discrimi­
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
raiippad 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 R R . 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
and 2,617,949 tons in March. On July 1st 269 fur­
blame does not lie with the railroad.
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. II. 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%
The official report on the grain crops of the country
and made such subsequent adjustment of wages in
road and yard service as would give the, employees the for 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 that the company should pay from spring-wheat area west of the Mississippi, together with
5 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
into effect on 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 SI 35
and later to SI 55. The aggregate increase here is
over 40% . Passenger flagmen and brakemen are to
be advanced first from SI to SI 32 and later to SI 50.
Here the aggregate increase is 50 cents, or 50%.
Conductors of through freight trains are to be raised
from S3 18 to S3 55 and then to S3 75. Brakemen
and flagmen on 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
of the Commission. And the situation in other parts
of the country is the same, except that the higher
wage schedules have in most cases already gone into
effect. The Commission cannot deny permission to
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.




62

THE CHRONICLE

ent measure of the damage done is exaggerated,
especially as in some of the districts affected by
drought there has been relief since the report was
issued.
This July 1 report furnishes the initial data for the
season concerning corn— our largest grain crop— of
which a record planting is indicated, the area for the
whole United States being estimated at 114,083,000
acres, against 109,060,000 acres in 1909, or a gain of
4% . Furthermore, the condition of the crop is above
the average of recent years, being reported for July 1
as 85.4. This compares with 89.3 on the same date
last year, but with 82.8 in 1908, 80.2 in 1907 and a
10-year mean of 85.1. Making due allowance for the
increase in area referred to, the present outlook with
normal weather hereafter is for a yield in excess of the
2,772 million-bushel outturn of 1909.
The wheat situation is not so satisfactory, at least
as far as spring wheat is concerned. In the case of
winter wheat, however, there has been improvement
during the month. The general average for winter
wheat is stated at 81.5, as compared with only 80 on
June 1 and comparing with 82.4 on July 1 last year,
80.6 in 1908 and a 10-year meanof81.3. Owingtothe
lateness of the harvest, much less of the crop has been
gathered to date than in a normal season. Returns
of the yield from scattered localities vary widely. In
Missouii, for instance, according to the official State
report, the prospect of yield per acre on July 1 was
considerably better than a month earlier; whereas
reports from Nebraska indicate a short yield of rather
poor quality. In the absence of any general returns
of yield, it is safest to use the Department’s acreage
and July 1 condition figures as a basis for calculating
the probable aggregate crop of the country, which at
this date promises to be fully up to that of 1909.
Spring-wheat condition, according to the Depart­
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
than on July 1 1909 and 25.5 points below the 10-year
average. States of largest production are reported
as showing abnormal deterioration during the month,
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
93 to 68 in Washington. In this crop there has been
an addition of 7.3% to area the present year. Ad­
vices since the date of the report indicate that rain
has brought some relief, and hence there is possibility
of improvement.
Oats condition is also lower than on June 1, the
Department stating it at 82.2 on July 1, which con­
trasts with 88.3 on the same date in 1909, 85.7 in 1908
and a 10-year average of 86.8. The outlook at present,
taking into account the increase in area (3.5%), is
for a crop closely approximating last year’s record
production.
' Thursday’s announcement of the engagement in
London of $1,750,000 gold bars for shipment to New
York was attended by developments abroad and at
home worthy of passing notice. The state of the inter­
national exchanges had not made a gold movement in­
evitable, so that the news created some surprise on
both sides of the Atlantic. Bankers here figured that
sterling would have to decline to the neighborhood
of 4 85 for demand before an inflow could be inaugu­
rated at even a small profit, so that when the metal was



{VOL. L X X X X I.

engaged with the rate at 4 853/2 the conclusion at
once formed was that the shippers had arranged a
“ special” transaction, although the importers did not
confirm this view. It sometimes happens that gold is
imported or exported without immediate profit for
sentimental reasons, particularly in reference to stock
market movements, and foreign exchange operators
think the present may have been an instance of this
kind. At all events, no other engagements of gold
for importation have been announced. Furthermore,
no very broad movement is looked for just yet, al­
though later on the imports are expected to be fairly
extensive if the international money markets do not
undergo material change. London signalized Thurs_
day’s engagement by instantly marking up discounts
to 23/g%, as compared with a recent minimum of 1% %
and a maximum of 2% earlier in the current week,
while the Governors of the Bank of England refrained
from lowering the official discount rate in spite of a
rise in the proportion of reserve to liabilities from
42.77% in the previous week to 46.40% this week.
Advices from London as well as from Paris indicated
that New York’s action was construed as unwarranted
by either trade or financial conditions, and suggestions
were made that a premature outflow to this country
would be resented and resisted. At all events, the
higher charge levied for discounting bills and the
retention of the 3% Bank rate checked the movement.
It may have been only a coincidence that on the same
day London sent a good many stocks back to this
market for sale. Here the engagement was followed
by a recovery in demand sterling to 4 85% on Thursday
forenoon and the week’s minimum quotation (4 8540,
recorded on Wednesday), has not since been repeated.
The rate at the close last night was 4 8580, so that no
further transactions are at the moment feasible.
Local bankers, in discussing the monetary outlook
for the second half of 1910, are beginning to lay stress
upon the possibility of a diminution in general trade
activity. Some slackening in the industrial pace
appears to be taking place in several important indus­
tries, including iron and steel, copper and cotton and
woolen manufacturing, while speculation in land, the
building of houses and the marketing of automobiles
have also undergone modifications. In view of their
recent unhappy experiences with governmental bodies
and of the continued difficulty in selling bonds on a
reasonable basis, the railroads cannot be expected to
manifest unrestrained enthusiasm in entering upon
avoidable expenditures for extensions, improvements
or equipment. Managers of large corporations are, in
fact, showing caution in spending money. Another
reason for not trying to force matters has been adduced
this week by certain financiers closely identified with
huge business organizations, namely the inadequate
service rendered by labor for the high wages now
being paid. This phase of the situation is exercising
more concern than is publicly represented, for the
subject is one not calculated to enhance the popularity
of those who might openly discuss it. There is wide­
spread complaint that the cost of conducting business is
being unduly inflated, just as it was in 1906-07, by in­
efficient labor, by too meagre a return for each dollar
paid in wages.
If appreciable trade reaction should come, bankers
point out that the misfortune would not be without

Ju ly

9 1910.]

THE CHRONICLE

compensatory features. For one thing, quieter busi­
ness would mean contraction in the mercantile demand
for money during the crop-moving season, and there­
fore less likelihood of stringency. Then it has repeat­
edly been demonstrated that the laying off of surplus
employees acts as a tonic upon those retained, while,
of course, arrogant demands for higher wages or shorter
hours are dropped. Moreover, a general curtailment in
activity, it is reasoned, would tend to correct the infla­
tion that has not been entirely eradicated since the
feverish prosperity that preceded the breakdown
of 1907, and thus place the United States in a better
position to compete with foreign nations in the world’s
markets. In view of all this, it will be readily believed
that the banking community is of the opinion that
danger of strictly monetary complications need
occasion no acute alarm. Europe’s abundant sup­
plies of cheap money, it should not be forgotten^
can be drawn upon whenever necessary, especially
as lower prices mean an increased volume of mer­
chandise exports.
Too much 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, were compiled from the returns submitted
on the evening of July 1, the day on which the half­
yearly 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 a'gain been quite heavy, as
is shown in our regular compilation covering the week’s
currency movements. It may be here remarked that
the mild firmness manifested in call money last week
has subsided, renewals having been made on Thurs­
day at the low charge of 2j/£%. It is thus evident
that there is little room for alarm over the present
position of the New York banks.




63

Governor Fort of New Jersey has acted wisely in
deciding not to call a special session. No emergency
exists save that a few excited persons, angered at the
action of the railroads in proposing an increase in
commutation rates, have asked him to do so. A
suggestive comment upon the height to which emotion
has proceeded may be found in the simple fact that
newspapers are actually commending the Governor
for his courage and his display of sense. Is it indeed
true that “ in these days it requires high courage for
a public man to show that he has common sense?”
If that is true, is it not quite time for all of us to begin
getting the glare out of our eyes and cooling ourselves
back to a state in which honesty, courage and sense
shall be so much the rule that an exhibition of any
of these old-fashioned qualities will not attract atten­
tion?
However, it is timely— especially after a special
session in this State, which was not justified by any
emergency— to be reminded that a special session is
solely for “ an 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
necessary, 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
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 prejudge
nor by,what is even worse, partisan political considera­
tions.” Truly as to the last clause; yet, without
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

(>4:

THE CHRONICLE

a railroad is to serve the public satisfactorily in all
respects and to pay something to its private owners if
any funds remain? Is the question in this particular
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.

[V O L . L X X X X I

of the Inter-State Commerce Commission in reducing
railroad rates in the 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 were 97,840,941 shares,
these contrasting with 20,322,230 shares and 99,136,­
372 shares respectively in 1909. In 1908 and 1907
the June dealings were less than in the current year,
but in 1906 were larger. Bond transactions were 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
a very satisfactory exhibit, with the percentages of
increase very heavy at Vancouver, Calgary, Winnipeg
and Victoria. The aggregate for the 13 cities for
which comparative figures are obtainable was for June
$495,101,795, an increase of 14.1% over the corre­
sponding period of 1909, and for the six months the
excess reaches 21.9%. Compared with 1908 the gains
are respectively 53.1% and 5177%.

Continued activity in our industrial and commercial
affairs is on the whole indicated by the returns of
bank clearings we publish to-day on the first page of
this issue. The compilation covers the month of
June and the six months since Jan. 1, and shows that
in general the volume of business has kept well in ex­
cess of any earlier year. At one or two leading points
the comparison with 1909 was for June less favorable
than in earlier months, but that is fully accounted for
Fluctuations in foreign discount rates this week
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.
For June this year the aggregate of clearings at the made in the Bank rate. Whereas bills were accepted
134 cities included in our statement is $13,810,070,581, last week at as low as 1% % , the minimum was raised
a loss of 2.4% from the month of 1909, although all on Thursday to 2% % for spot bills and to 2% %
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. 9)Jd. 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 wholly 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 were 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 weekls low level, provided
obtains. Excluding New York, the total of clearings the competition for gold abates; $3,350,000 new bars
records an increase, as compared with 1909, of 8% are due next Monday, and it will be interesting to
for June and 12.1% for the period since Jan. 1, with watch their sale in the open market.
Paris lowered its discount rate, which last week
the gains 30% and 30.4% , respectively, contrasted
was
2j^% , to l 7
A % on the day that the advance was
with 1908. In the Middle States group of places (in­
made
at
London.
The Bank of France issued its
cluding New York) there is a loss of K.7% for the
weekly
statement
on
Thursday, showing a decrease
month and a gain for the si>- months of 8.9% as com­
in
every
account;
but
the loss in specie was light
pared with 1909, and in the New England group a
($1,585,000)
in
comparison
with the reduction in
decline of 2.1% tor the short period and an increase
liabilities;
note
circulation
was
contracted by $17,­
of 3.3% since Jan. 1 For the Middle West the gains
170,000,
general
deposits
fell
$31,025,000,
bills dis­
are 1.9% and 7.2% , respectively, and for the Pacific
counted
decreased
$56,810,000
and
Treasury
advances
Slope 16.1% and 23.2%. The total of the cities in
the “ Other Western” section records an excess in June were 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 London; spot bills are now quoted
month of 1909 and of some earlier years. In the first 2ys% and bills to arrive 3% . Amsterdam continues
ten days of June dealings in stocks were of fairly good on a very high level; the Bank rate still is 5% , while
volume, but later on trading was comparatively quiet the private charge is 4 % % . Brussels quotes 2 % %
until the 29th and 30th. On those days the action lI and the same figure prevails in Switzerland. The



July 9 1910. |

THE CHRONICLE

65

Bank of Bombay on Thursday lowered its 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
on
collateral loans running for the same period. A
The Bank of England’s weekly statement was of a
good
deal of business is done at 5 )4 % , both for local
mixed character. The South African gold available
and
out-of-town
account. The absorption from the
on Monday was largely purchased by Germany at a
country is only moderate, while temporarily the other
farthing above the Mint price, whereas no competition
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 5)4% 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 2 )4 % 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 precious metal in London this week for shipment to
open market and imports from Rio de Janeiro. Ship­ New York, the market h&s not at any time been
ments to the interior of Great Britain were heavy. regarded as actually on the gold-import basis. Some
Exports 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)4 > 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
declined, while time rates have advanced. When tance have not, however, increased. It is worth
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
314% 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 % 011 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 2 % % . 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
money market; for these bankers are now insisting upon market has to absorb. London purchased stocks im­
mediately after last week’s severe break, but this week
5% , against 4 % % earlier in the week.
International banking houses have been lenders for transactions have about balanced. Trade conditions
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
11/2% 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.
The Bank of England is understood to be averse to
for four months’ and six months’ facilities is very
marked. The detailed range is as follows: Sixty losing any large amount of gold at this time. During the
days, 3i4 % ; ninety days, 3)4 to 3% % ;
four first half of the current week sterling, both at Paris and
months, 4 )4% ; five months, 4)4 % , 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 2)4
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 to the amount of $3,350,000
excessive volume, is to be 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




THE CHRONICLE

66

[VOL. L X X X X I.




|fl
*** 1

the Continent, although New York is unlikely to be a
bidder unless exchange quotations decline appreciably. TREASURY FINANCES FOR THE FISCAL YEAR.
No reduction in the Bank of England's 3% rate is
While the Treasury debt and financial statements
looked for immediately.
for the end of the fiscal year on June 30 cannot be said
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 clo*se 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
demand and 4 8575@4 8585 for cable transfers, the disbursements. This surplus for the twelve months
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.
selling as high as 4 8585, although the undertone was
In the figures here given we disregard entirely the
slightly easier at the close.
outlays on account of the Panama Canal. The Gov­
The following shows the daily posted rates for ernment returns show these separately, and obviously
sterling exchange by some of the leading drawers.
they belong in a class by themselves, though of course
in the absence of new bond issues to meet the same
Tues.,
F ri.,
W ed., Thurs., F r i.,
July 5. July 6. July 7. July 8.
July 1.
they are a drain upon Government cash the same as
84 }4
Brown
/60 days 4 85
84 A
84(4
84(4
ordinary disbursements. In the twelve months under
86 A
86 A
Bros. & C o............. . ) S igh t.. •1 87
86(4
86 'A
84 a
Kidder, Pea/60 days 4 85
84(4
84(4
84(4
review
the Canal expenditures reached $33,911,673.
1
87
86 'A
body & C o . . ......... . ISIght..
8liA
86(4
86(4
Bank British
/60 days 4 85
84 a
84 A
84)4
84(4
In 1908-09 these expenditures were $31,419,442; in
North A m erica-- .1 Sight-- 4 87
86 A
86 A
86(4
86 A
J60 days 4 85
H O L IBank ot
85
85
85
85
DAY.
M ontreal................ - '(Sight-. 4 87
87
87
87
87
1907-08 they were $38,093,929; in 1906-07, $27,198,­
Canadian Bank
/60 days 4 85
85
84 A
84(4
84(4
of Commerce------ . (S ight-- 4 87
87 ’
86 A
86(4
86(4
618;
in 1905-06, $19,379,373, and in 1904-05, $3,918,­
Heldelbach, IckelJ60 days 4 85
84(4
84(4
84 A
84(4
helmer & C o........... .(S i g h t .. 4 86JS
86
86
86
80
819.
Including the Canal expenditures, the result for
Lazard
f 60 days 4 85
84(4
84(4
84 A
84 A
F r c r e s ....... ............. .(S ig h t -- 1 86 A
86
86
80
86
1909-10
would be a deficiency of $18,960,154, which
Merchants’ Bank
f60 days 4 85
84(4
84 A
84(4
84(4
of Canada------------4 86J*
86
86
86
80
would compare with a deficit of $90,154,396 in 1908­
The market closed on Friday at 4 8360 @ 4 8370 for 09 and a deficiency of $58,135,596 for 1907-08; but with
60 days, 4 8575@4 8585 for demand and 4 8605@ a surplus of $84,221,912 for 1906-07. It is worth not­
4 8610 for cables. Commercial on banks was quoted ing that up to June 30 1910 the total amount expended
at 4 8320@4 8340 and documents for payment 4 83 for the purchase and construction of the Canal was
@ 4 8334- Cotton for payment ranged from 4 82% @ $204,596,342, and of this $87,309,595 had been pro­
vided from sales of bonds (including premiums),
4 83, grain for payment from 4 83% @ 4 83%.
leaving, therefore, $117,286,747 as expended out of
The following gives the week’s movement of money Government cash and for which the Treasury is re­
imbursable. The total amount of bonds authorized
to and from the interior by the New York banks.
by existing laws for the Panama Canal is $375,200,980,
Received by
Skipped by
Net Interior
of which there have been issued thus far only $84,­
N
.
Y
.
Banks.
N
.
Y
.
Banks.
W eek ending July 8 1910.
Movement.
C u rrency_______ ___________________
87.958.000
87,048,000 Gain
$910,000 631,980, leaving available for the future $290,569,000.
G old ......... .......... ....................................
1,824,000
1,096,000 Gain
728,000
The favorable result for the year under which, as we
Total gold and legal tenders______
$8,144,000 Gain $1,638,000
$9,782,000
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 o f
Net Change In
whole of this tax was gathered in before the close of
W eek ending July 8 1910.
Banks.
Banks.
Bank Holdings.
the fiscal year. The collections reached $17,362,815
Banks’ interior m ovem ent, as ab o v e .
$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
turned
into the Treasury in the ten days since then.
The following table indicates the amount of bullion
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
July 8 1909.
July 7 1910.
deficiency of about $2,400,000 even on the ordinary
Banks o f
Gold.
1 Silver.
Silver.
Total.
Gold.
Total.
operations of the Government, instead of the $14,951,­
£
£
£
£
£
£
E n gla n d .. 41,484,25!
................ 41,484,251 41,109,491
519 surplus actually recorded. The Constitutionality
41,109,491
France . . 135,872.280 35,247,640 171,119,920 148,008,520 35,994,720 184,003,240
Germany
30.709.000 14,290,250 51,050,250 38,233,850 13,200,750 51,434,600
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,
S p a in ------ 16.255.000 31,361,000 47.016.000 15.975.000 32.207.000 48.182.000
Italy . . . 38.992.000 3,900,000 42.892.000 38.519.000 4,725,000 43.244.000
but
the date of the Supreme Court decision on the
N eth’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.
4,334,667
2,167,333
6.465.000
6.502.000
validity
of the law is still far off in the future, and
.............
4.448.000
Sweden . .
4.378.000
4.448.000
4.378.000
5.634.000
................
Switz ’land
5.634.000 4,754,400
4,754,400
1,681,000| ...............
meanwhile
it is satisfactory to know that the receipts
N o rw a y . .
1.697.000
1.681.000
1.697.000
T ot. week 491,133,531 111,330,790 602,464,321 489,103,928 113,639,903 602,833,831
on
account
of that tax have tided the Government
Prev. week 494,870,268J112,424,513 607,294,781 494,052,722 114,652,020 608,704,742
over a deficit for the time being.

J uly 9 1910.]

THE CHRONICLE

Other 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
Master General Hitchcock’s administration of the De­
partment. 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.
The Internal Revenue for 1910 also exceeded that for
1907, though it did not quite equal the amounts for
1900 and for 1901 at the time of the Spanish-American
War, when special excise imposts were levied. In
brief, the product of the Internal Revenue was $285,­
185,830 in 1910, against $246,212,644 in 1909, $251,­
711,127 in 1908 and $269,666,773 in 1907. Aggregate
gross receipts for 1910 were the largest on record,
reaching, as already stated, $675,679,873, which com­
pares with $603,589,490 for 1909, $601,126,119 for
1908 and $663,140,334 for 1907, the previous maxi­
mum.
These figures of gross revenues are interesting since
they make it evident that the only reason why there
was not a surplus on a tremendous scale, such as ex­
isted in previous years of great prosperity, is that ex­
penses have risen to such an enormous extent. We
have noted above that the disbursements for the late
year fell below last December’s estimates. But as
compared with the extraordinary outgoes of the pre-




67

vious year there was really very little change. The
disbursements for the twelve months reached no less
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
that has occurred within a decade in the cost of gov­
ernment, we reproduce here a little table published
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 th e '
amounts for 1896-97, which latter was the year be­
fore the Spanish-American War.

----- F i s c a l Y e a r s e n d in g J u n e 30----1909-10.
1908-09.
1896-97.
E x p en d itu res.
S
$
S
Civil and miscell.*......179,779,764 186,502,149 90,401,268
War ......................... 157,004,608 161,067,462 48,950,268
Panama Canal........... 33,911,673 31,419,442
.............
Navy ....................... 123,114,547 115,546,011 34,561,546
Indians............
18,752,612 15,694,618 13,016,802
Pensions.....................160,733,839 161,710,367 141,053,165
Interest...................... 21,342,984 21,803,837 37,791,110
U . S . G overn m en t

Total ................... 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
cluding the $33,911,673 disbursed on account of the
Panama Canal) amounts to $694,640,027, against no
more than $365,774,159 in the year before the Span­
ish War. It would seem as if here there were a great
opportunity for retrenchment and economy, and it
would also seem that as yet the efforts of the Admin­
istration in that direction had made very little im­
pression.
No new bond issues were put out during the year
and as a consequence, even though receipts exceeded
disbursements by $14,951,519, the fact that expendi­
tures of $33,911,673 were made on account of the Pan­
ama Canal served materially to reduce Treasury availa­
ble cash. Furthermore, the payments on account of
the National Bank Redemption Fund exceeded the de­
posits on account of the same fund, the former reach­
ing $32,288,770 and the latter $31,674,292. Two years
ago the amount to the credit of the National Bank ReI demption Fund was $72,459,284; on June 30 1909 it
I 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 interest­
bearing 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
posits with national banks were reduced from $74,­
698,615 to $51,685,340.

[VOL. L X X X X I

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
should have 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
and justice itself ought ever to be tolerated. Here is
no place for personal friendships or for party promoting.
Our high courts belong to the world and to mankind.
THE DEATH OF CHIEF JUSTICE FULLER.
That the traditions and record of the past may be
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.
While he perhaps did not win the veiy highest place
In discussing in these columns from time to time
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
passes crowned with both years and honors.
least judging from the letters of inquiry that we are
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 was 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
always hasty. We have to remember that high courts the operating accounts of rail carriers.
cannot be trusted to indefinitely withstand the popular
An official of one of the banks in Omaha writes us,
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 (at and were anxious for through freight from New York
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 assumption that the courts will protect us from to the railroad company for its freight 74 cents per 100
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 remarks raise
ing of the standard is not in the nature of things im­ an inquiry that has been propounded by others,
possible. While inadequately 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,




July

9 1910.)

THE CHRONICLE

69

by reason of the mere fact that rebates are no longer Minnesota State Bankers’ Association, two weeks ago,
allowed to shippers. Unquestionably the carriers do contained some illumining figures on this point.
get a considerable advantage in that way. We should President Brown pointed out that ten years ago
doubt, however, whether the rebate was ever as great 100.000 white oak ties cost about 842,000; to-day it
on shipments between Omaha and New York as our requires from 885,000 to 895,000 to pay for them. A
correspondent puts it. He assumes, it will be seen, locomotive which cost 812,000 in 1899 now costs
it was 50%, and he is also of the opinion that rebates about 819,000. In 1899 8,000 standard box cars
were allowed up to five years ago. If the rebate ever could be bought for approximately 8600,000; to-day
amounted to 50%, it must have been for a very brief it takes a little more than a million dollars to pay
period of time, constituting a very exceptional con­ for them. A railroad pay-roll which aggregated
dition, which need not be considered in a general in­ 8100.000 in 1899 will closely approximate 8140,000
quiry of the present nature. It is also a mistake to to-day, with exactly the same number of men, in the
assume that rebating was practiced up to five years same positions, doing the same work. Besides this,
ago. It seems safe enough to say there has been no the burden of taxes has been enormously added to.
rebating or secret cutting of rates of a general charac­ Mr. Brown says that where 8100,000 was required to
ter since the enactment of the Elkins law in 1903, and pay the taxes on railroad property a decade ago,
we believe it correct to say not for three or four years 8163.000 is required to-day.
before that time, as the practice had found general
It would have been impossible to meet this great
condemnation, and the Inter-State Commerce Com­ augmentation in operating cost without raising rates
mission had been making special efforts to put an except for the introduction of striking new economies
end to it.
in railroad operations. By improving road-bed and
Suppose, however, that as compared with, say, track, by reducing grade and changing alignment, by
ten years ago, the railroads are enjoying advantages purchasing cars of larger capacity and employing
by reason of the abolition of rebating practices and engines of greater tractive power, railroad managers
secret cutting of rates, is it not a fact that at that were able so to enlarge train capacity as to reduce the
period large numbers of roads were in a state of cost per unit of transportation service rendered. In
bankruptcy, or just emerging therefrom, showing that this way, also, they were able to develop new sources
the transportation charges less rebates were plainly in­ of traffic. Thereby an increase in rates in the older
adequate. Have not other circumstances also changed parts of the country was averted, notwithstanding the
in the interval? Obviously, when the inquiry is ex­ enhanced cost of everything; while in the newer sec­
tended back for a period of eight to ten years, it be­ tions of the country reductions in rates were actually
comes necessary to consider not alone recent increases effected in face of this rise in prices. One illustration
in wages and recent additions to operating cost, but of what has been accomplished in the way of operat­
all changes of that character during the last decade. ing economy appears when we note that in the fiscal
The fact is notorious that prior to the present year’s year 1898 the average train-load per freight train for
advances in wages there were successive previous ad­ the railroads of the United States was 226 tons, while
vances of the same kind, and that notwithstanding in 1908 the average had been brought up to over 351
such advances the carriers found it impossible to reduce tons, an improvement of considerably over 50%.
wages, even in a small way, during the period of ex­
But now the railroad managers seem to have 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 enormously increased.
the case of railroad labor. In 1898 the average earn­
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 $1 45. By 1907, under the economy in train­
year 1908 have only recently been compiled, so these loading, this had been brought up to 82 17. But
are the latest available. Comparing the results for 1908 saw a reduction to 82 11. The expense of run­
that year with corresponding results for 1898, a ning the trains further increased even in 1908, and
striking increase is disclosed in the pay of all classes the result was that the profit per train mile, which
of railroad employees. For instance, -the average had risen from 49c. per train mile in 1898 to 70c. in
daily compensation of locomotive engineers in 1908 1907, fell off again to 63c. It must also be remem­
was 84 45, as against only 83 72 in the fiscal year 1898. bered that the roads are all the time obliged to in­
The firemen averaged 82 64, against 82 09; conductors crease their capitalization—to put out new stocks
83 81, against 83 13; machinists 82 95, against 82 28; and bonds in order to provide the additional equip­
telegraph operators 82 30, againsf$l 92; station agents ment and facilities needed to handle the growing
82 09, against 81 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 3 ^ @ 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 % .
reduced, and various other allowances and concessions
In short, a point has been reached where an advance
granted which serve further to add to absolute cost.
in rates is absolutely necessary to preserve the integ­
Not merely, however, has the labor cost risen, but rity and stability of railroad property. It is estimated
practically all other items entering into the operating that the advances in wages made the present year
accounts have also risen, as already stated. The ad­ will add between 100 millions and 150 million dollars
dress made by President William C. Brown of the to the annual expenses of the railroads of the United
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 our article on the
“ Financial Situation” on a preceding page, very con­
siderable further advances were awarded this week
to railroad trainmen in Southeastern territory by
Government representatives under the Erdman law.
Some of these advances become effective now, 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
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
on the Pennsylvania lines directly operated east and
west of Pittsburgh, out of a gain in gross earnings
for the month of May in the large sum of $3,356,900,
only $37,100 remained in the shape of increased net,
because of an augmentation of $3,319,800 in ex­
penses.
Some other large systems are doing a great deal
worse than this. The Rock Island Co., for instance,
i n 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 week, 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.
The case of the Atchison is familiar to all. This
large system for the eleven months to May 31 has
added no less than $10,370,949 to gross revenue, but
nevertheless has lost $1,733,531 in net. The Illinois
Central in May lost $486,124 in net,- with a gain of
$398,772 in gross, and is $351,062 behind in net for
the eleven months, notwithstanding again of $4,708,143
in gross. Many other instances of the same kind
might be mentioned, there being improvement in the
net only as a rule in cases where the gain in gross has
been of phenomenal extent. With the higher wage
schedules of 1910 counting only in part in these results,
is there the least ground for doubt that advances in
rates are an imperative necessity?
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. B A N K S — N ew Y o rk .
L ow .
*25 C om m erce, N a t. B a n k o f _____ 202
* 2 0 F ou rth N ation a l B a n k . ............. 184
*10 H a n ov er N ation a l B a n k ........... 625

H ig h .
203
184
625

C lose. L a st previous
203
Ju n e 1010—
184
Jun e 1910—
625
M ay 1010—

sale.
205
184
625

* S old a t th e S to c k E x ch a n g e .

—Melville W. 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 page.



[V O L . L X X X X I.

—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, Chairman; Bayard Wyman, Basil Miles, James B.
Cook, C. H. Fullaway, 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
could be established before Jan. 1 of next year.
—Thejfirst withdrawalsjof public lands to be made under the
authority of the law, signed by President Taft on June 25,
occurred within the past week. On the 3d inst. the Presi­
dent signed an order withdrawing from public entry 8,495,731
acres of power-site, phosphate and petroleum lands; the
area involved in the power-site .withdrawals are in Arizona,
California, Colorado, Idaho, Montana, Nevada, New Mexico,
Oregon, Utah, Washington and Wyoming; the phosphateland withdrawals cover territory 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 1900. 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
and Arizona. Of these withdrawals 20,098,409 acres had
not heretofore been authorized; the other 14,374,095 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.
—George Otis Smith, director of the Geological Survey,
has been 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
in our issue^ot June 4.
—In conjunction with the issuance of a call for a report of
condition by the national banks on June 30, Comptroller
of the Currency, Lawrence O. Murray, also requested of the
Bank Superintendents of the various States that a call for
statements be made upon the institutions under their juris­
diction on the same date. Similar action to secure statistics
from all the institutions throughout the country on an
identical date was taken by the Comptroller" last year at
the time of the'April 28 call upon national banks.
—C. C. Barksdale assumed charge of the new State Bank­
ing Department of Virginia on the 1st inst. The Depart­
ment was created at the late session of the Legislature and
will be conducted under the supervision of the State Corpora­
tion Commission. Mr. Barksdale’s official title is State
Bank Examiner.
—A New York Stock Exchange membership was posted
for transfer this week, the consideration being $70,000.
The last previous sale was for the same amount.
—The committee of Assemblymen and Senators delegated
to investigate legislative corruption in accordance with the
resolution passed by the New York Legislature in May was
named on 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
Edwin A. Merritt Jr., William W. Colne, Frederick It.
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, and[Senator Brough was made Vice-

July

9 1910.

THE CHRONICLE

71

Chairman. Ex-Lieutenant-Governor M. Linn Bruce was position in the matter. One of these was given out by
chosen as Counsel to the Committee. The next meeting District Attorney Whitman and said:
T h ere is n o e v id e n c e in the possession o f this o ffic e w h ich reflects in a n y
will be held on the 26th inst.
w a y u p o n th e fina ncial r e sp o n sib ility o f the p resen t m a n a ge m e n t o f th e
—E. H. R. Green, son of Mrs. Hetty Green, was elected a C arn egie T ru s t C o ., o r u p o n a n y o f its presen t o ffic e r s , o r th e B o a rd o f
D ire cto rs as n o w co n s titu te d . T h e e v id e n c e s u b m itte d t o m e sh ow s th a t
director of the Seaboard National Bank of this city on th
e trust c o m p a n y r e c e iv e d , as co lla te ra l t o a lo a n m a d e b y It, 300 o f the
Thursday. Mr. Green is President of the Texas Midland b o n d s o f th e T itu sv ille N o rth e rn R a ilro a d C o ., a P e n n s y lv a n ia c o r p o r a ­
tio n , w h ich it how has in its possession an d has p r o d u ce d to m e.
RR. Co."
On behalf of the trust company, its President, Joseph B,
—Charles Fairchild, founder of the New York Stock Ex­
made the following announcement:
change house of Charles Fairchild & Co., died on the 7th inst. Reichmann,
M y a tte n tio n has been ca lle d t o th e p u b lic a tio n o f an a lleg ed th e ft o
at Newport, R. I. He was formerly a member of the bank­ 510 0,00 0 w o rth o f b o n d s o f the T itu s v ille N o rth e rn R a ilr o a d C o. fro m th is
b s o lu te fa b r ic a tio n , w ith n o t e v e n a s e m b la n ce o f
ing house of Lee, Iligginson & Co. of Boston, but retired trc oumthp a niny , it.i t 'rish earnc ahas
n o t been a d e fa lca tio n o f a sin gle b o n d o r a
someyearsago. Mr. Fairchild was seventy-two years of age.
single d o lla r In this In stitu tion .
A ll we k n o w a b o u t th e m a tte r Is th a t w e
have be e n t o ld th a t th ere is a d isp u te be tw e e n the b r o k e r w h o b o r r o w e d th e
—Samuel D. Styles, President of the North River Savings m o n e y fro m us, a m o u n tin g at p resen t to a b o u t $ 5 8 ,0 0 0 , a n d his clie n t, as to
Bank, at 31 West 34th Street, died on a New York Central h o w m a n y b o n d s th e clie n t d e liv e re d t o the b ro k e r o r ig in a lly . S o fa r as w e
c o n c e r n e d , w e re c e iv e d , in a d d itio n to o th e r c o lla te r a l, 300 b o n d s ,
train last Saturday, while on his way to his summer are
w h ich are n o w , a n d h a v e b e e n , in o u r possession sin ce th e tim e o f th e m a k ­
home at Richfield Springs, N. Y. Mr. Styles had been ing o f the lo a n , a n d h a ve b e e n e x h ib ite d to rep resen ta tives o f th e press, as
as to the S ta te B a n k in g D e p a r tm e n t, w h o have issued the s ta te m e n t
President of the bank for fifteen years, lie was prominent in ww ell
h ich fo llo w s .
the movement to effect a reduction in the rate of interest
The statement of the Banking Department referred to in
on deposits in savings banks, and his institution was one Mr. Reichmann’s letter is as follows:
of the first to lower the rate in January. Mr. Styles was
S tate o f N ew Y o r k B a n k in g D e p a rtm e n t.
N e w Y o r k , N . Y . , J u ly 6 1910.
formerly a member of the printing and stationery house of
R e fe rrin g to the re p o r t cu rren t in t o -d a y ’s pap ers t o th e e ffe ct th a t $ 4 0 0 ,­
Styles & Cash, of West 14th Street, and at the time of his 000 w o rth o f ra tlrcad b o n d s d e p o s ite d as s e c u r ity f o r a loan w ith th e
death was a director of the Lincoln Trust Co. and the Home C arnegie I rust C o. b y Charles K. Y V ellborn o lias been s to le n , I w ish t o sta te
b e h a lf o f this D e p a rtm en t th a t an e x a m in a tio n m a d e b y the D e p a r t­
Insurance Co. Resolutions voicing the esteem in which on
m e n t s o o n a fte r th e m a k in g o f th e loan s h o w e d th at there had be e n d e ­
he was held by his associates in the latter company were p o site d w ith tlie c o m p a n y $30 0,00 0 o f su ch railro a d b o n d s, w h ich th e c o m ­
p a n y h ad o n han d at the last e x a m in a tio n o f this D e p a r tm e n t, a n d still
adopted on the 7th.
lias o n h a n d , a c c o r d in g to the re p o rt o f o n e o f o u r exa m in ers w h o co u n te d
—With the resignation of Charles II. Sabin as Vice-Presi­ th em t o -d a y .
W A L T H E R W O L F , T h ird D e p u ty S u p e rin te n d e n t.
dent of the Mechanics & Metals National Bank of this city,
Mr. Wellborne, mentioned in the foregoing statement, is
effective this week, several changes have been made in the said to be the President of the railway company. Charles W.
personnel of the bank’s staff. Walter F. Albertsen, Cashier, Chapman, a broker at 25 Broad Street, is also said to be
has been made a Vice-President, Joseph S. House, heretofore concerned in the dispute. The loan is reported to have
an Assistant Cashier, has become Cashier, and Charles E. been negotiated by the trust company during the presidency
Miller, formerly manager of the credit department, has been of the late C. C. Dickinson.
chosen as an Assistant Cashier. As noted two years ago,
—An order authorizing the dissolution of the Riverhead
Mr. Sabin has been elected Vice-President of the Guaranty Bank of Riverhead, L. I., was signed by Justice Garretson
Trust Co.
of the Supreme Court, Brooklyn, on the 2d inst. The
—The expansion in the business of$the Guarantyyfrust institution is succeeded by the newly organized Suffolk
Co. of this city since the consolidation with it of the*Fifth County Trust Co.
Avenue Trust Co. and the Morton Trust Co. in January is of
—William H. Burrows was chosen to the presidency of the
more than passing interest, for in the June 30 statement the Middletown National Bank of Middletown, Conn., on the
institution shows deposits of greater volume than have 1st inst. to fill the vacancy caused by the resignation of
heretofore been reported by any like institution. On Jan. 31, E. K. Hubbard on April 5. On the 1st inst. Francis A.
four days after the merger went into operation, the company Beach assumed the position of Cashier, to which he was
had 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. Heinze, institution in the country to receive a Federal charter, dates
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 by the capital of $1,000,000, surplus and profits of $914,653, de­
U. S. Circuit Court of Appeals on the 5th inst. The sentence posits of $12,635,391 and 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
pearance and mutilation of books of the United Copper Co. holders of the Merchants’ National. A cash payment of
A stay of sentence had been granted, pending an appeal, $50 on each share of the Merchants’ will, it is stated, be made
Mr. Heinze being released under bail of $2,500. In its to equalize the transaction. The surplus and profits of the
decision affirming the sentence of the lower Court, the First National were $l,019,245in the March statement, while
Circuit Court of Appeals said in part:
i tsdepositson June25 were $10,418,000. J. Tatnall Lea, who
“ T h ere w as n o error in d e n y in g the m o tio n t o dism iss this In d ictm en t
has been President of the First National since April 1904,
o n a c c o u n t o f p r o o f th a t the w rit o f s u b p o e n a w as o u tsta n d in g at the tim e
will continue in the presidency, and William A. Law, who
o f the d e fe n d a n t’s a cts; an d ce rta in ly there w as no error in d e n y in g sucli
m o tio n u p on the grou n d th a t th e olfcn se ch a rg e d w as n o t establish ed in
became President of the Merchants’ National last January,
oth er respects. T h e te s tim o n y , n o t o b je c te d t o and n o t c o n tr a d ic te d ,
will be identified with the First National as First Vice­
sh ow ed b e y o n d the slightest d o u b t th a t th e d e fe n d a n t sent T r a c y S.
President. The full roster of the enlarged bank will be as
B u ck in g h a m (w a n ted as a w itness b y the F ed era l G rand Ju ry) o u t o f the
c o u n tr y a n d had fu rn ish ed him m o n e y w ith w h ich to g o o u t an d s ta y
follows: J. Tatnall Lea, President; William A. Law and
o u t; had in the m ost flagrant m anner a tte m p te d t o o b s tr u c t an d Im pede,
Kenton Warne, Vice-Presidents; Thomas W. Andrew,
an d had ob s tr u c te d an d Im peded the a d m in istra tio n o f ju s tice in a circu it
Cashier; C. II. James and Freas B. Snyder, Assistant Cashiers.
cou rt o f the U n ited S tates. T h e sen ten ce w h ich the trial c o u r t saw lit
to Im pose d oes n ot Indicate the serious natu re o f the o ffe n s e ."
Messrs. Warne and James were heretofore respectively
It is Mr. Ileinze’s purpose to have the U. S. Supreme Court Cashier and Assistant Cashier of the First National, and
review the case.
Messrs. Andrew and Snyder served as Cashier and Assistant
—A dispute which has reached the courts concerning a Cashier respectively of the Merchants’ . The board of the
$400,000 bond issue of the Titusville Northern R.R., part First National will be increase d to eighteen members through
of which is deposited as collateral with the Carnegie Trust the addition of seven directors from the directorate of the
Co. of this city, resulted in the issuance on Wednesday of Merchants’. The stockholders of the two institutions will
several statements ^with regard to the trust company’s formally ratify the merger proceedings on Aug. 3.



12

THE CHRONICLE

—Substantial 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 $1,009,510 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’
Association. Walter C. Clephane is Vice-Pi’esident, John
C. Eckloff. Cashier, and Jacob Scharf, Assistant Cashier.
—E. Francis Riggs, whose father, George W. Riggs,
founded the 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.
—The opening of the Ohio Valley Bank & Trust Co. of
Cincinnati, which is being organized with $250,000 capital,
will be deferred until September, according to the present
plans. 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.
—A new national bank is being organized in Washington,
D. C., under the title of the National Exchange Bank. The
capital is to be $800,000. The interests concerned in the
movement are Albert F. Fox, Charles B. Bailey, George
W. F. Swartzell, Brainard II. Warner, John Joy Edson and
B. F. Leighton. The application to organize was approved
Jurie 18.
.
—Hebcr W. Curtis has replaced F. M. Davis as Cashier
of the Grand Rapids National Bank of Grand Rapids, Mich.;
Charles W. Bender has become a Vice-President of the
institution.
—The deposits of the State banks of Chicago have reached
a new high record in their reports of condition on July 1.
The total on this date was $413,310,330 and compares with
$103,898,799 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 <fc 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
dollars.
—William G. Schroeder, Cashier of the Continental Na­
tional Bank of 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.
—In its report of July l (see advertisement on another
page 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
issue of the “ Chronicle.”
—Charles IT. Ravell, advertising manager of the Merchants
Loan & Trust Co., Chicago, resigns that position this month
to assume similar responsibilities for a circuit of banks out­
side of Chicago. 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
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. Raveil’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.




[ VOL. L X X X X I .

—The name of the new 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.
—William C. Brumder has succeeded George Brumder
as President of the Germania National Bank of Milwaukee.
—Paul Hardey, manager of the bond department of
the Inter-State 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
its combined assets are now about $875,000.
—The First National Bank of Billings, Mont., was closed on
the 2d inst. 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. I5. IT.
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
for ratification on 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. The 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
established in 1899 and the Third National in 1874. John
J. McHenry resigned the presidency of the Third on June 28
and Vice-President A. S. Rice was made Acting President.
—The consolidation of the Bank of Richmond with the
National Bank of Virginia at Richmond, became operative
on July 1, following the approval of the merger by the
respective stockholders. The union is effected under the
name of the National Bank of Virginia, which with the
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
of June 4. John Skelton Williams, President of the Bank
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 Ilunton 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. II.
Ellett, II. Theodore Ellyson, W. P. Glinn, W. M. Habliston,
E. C. Laird, R. II. Lindsey, William T. Reed, J. W. Rothert,
R. G. ITennolds, B. R. Wellford, F. D. Williams and T. C.
Williams Jr. The consolidated institution occupies the
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 ot $1,000,000 and a surplus of
$600,000, and is under the management of William II. Palmer
President; John S. Ellett, William M. Hill and J. W. Sinton,
Vice-Presidents, and Julian H. Hill, Cashier. Mr. Palmer
was President of the City Bank and Mr. Ellett President of
the National State Bank. The consolidation was ratified in
June, as heretofore noted.
—Steps have been taken to increase the capital of the
Bank of Commerce & Trusts of Richmond from $200,000 to
$300,000. 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
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 2G 190(5. 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 Bcnj. I. Cohen is
President, had heretofore paid 4% per annum on its capital
of §300,000.
—At the annual meeting on June (5 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 fonvard. 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 President of the bank and
B. B. Stevenson is General Manager.

73

Southern Clearings brought forward from first page.
June.

Clearings at— —

Six Months.

1909.

1910.

Six Months.
■
1910.

1909.

Inc. or
Dec.

S
Canada —
S
%
M ontreal......... 177,715,729 169,031,230 + 5.1
Toronto — - - 127,631,604 122,961,523 + 3 .8
Winnipeg......... 69,889,227 49,452,797 + 41.3
Vancouver------ 37,092,464 22,073.266 + 68.0
O tt a w a --------- 15,653,8621 14,469,862 + 8.2
Quebec------ - - 10,465,913 10,561,793 — 0.9
H a lifa x ............
8,570,879
7,967,233 + 7.6
Ham ilton.........
8,352,026
7,205,713 + 15.9
St. J oh n --------6,498,846
5,735,582 + 13.3
London ______
5,656,043
5,386,457 + 5.0
C a lg a ry ........... 13,035,062
8,113,535 + 60.6
Victoria .........
9,189,761
6.452,175 + 42.4
Edm onton____
5,350,379
4,443,481 + 20.4
Regina --------4,076.211 Not Incl. In total.
B r a n d o n _____
2,008,927 Not Incl. In total.

1910.

Inc. or
Dec.

1909.

s

$
994,870,183
834,981,524
759,292,096 678,848,157
393,265,077 302,414,200
204,508,872
116,820,265
94,791,950
83,963,654
57,865,049
53,845,516
49,015,089
43,657,769
47,736,569
37,802,431
37,030,056
32,952,662
33,124,489
30,101,270
69,499,659
39,460,801
30,886,765
44,880,016
23,255,214
29,922,238
20,202,185 Not Incl. In
7,292,868 Not Incl. In

%
+ 19.1
+ 11.8
+ 30.0
+ 75.1
+ 12.9
+ 7.5
+ 12.3
+ 26.3
+ 12.4
+ 10.0
+ 76.1
+ 45.0
+ 28.7
total.
total.

Tot. 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—
1910.
Canada—
Montreal ............... ..........
T oron to__ _____________
W in n ip eg..........................
V a n cou v er_____________
O tt a w a ..............................
Q u e b e c ....... .......................
Halifax ..............................
Hamilton _____________
St. John............................
London ....... .....................
Calgary ............................
V ictoria ................ ..
E d m o n to n _______ . . . .
R e g in a ________ ________
B ran don _____ __________

1909.

Inc. or
Dec.

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
1,841,141
1,935,918
+ 5.1
2,030,000
1,178,394 + 72.4
1,745,388
1.4.36,708 + 21.5
1,446,896
1,024,927 + 4 1 .2
1,150,732
1,111,806
— 3.4
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 Incl. In total.
399,960 Not Incl. In total.

Total C a n a d a .............. 106,974,997

81,394,878

+ 3 1 .4

1908.

1907.

S
22,652,589
18,945,945
8,0.37,711
2,949,628
2,348,358
1,695,353
1,468,647
1,375,770
934,963
1,233,808
923,967
970,496
564,729

s
29,957,478
26,215,529
12,379,324
3,252,771
2,589,065
2,223,816
2,000,000
1,698,236
1,107,748
1,559,489
1,260,549
1,057,207
706.065

64,101,964

86,007,277

Clearings by Telegraph—Sales of Stocks, Bonds, &c.—
The subjoined table, covering clearings for the current week,
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 fromothcr leading cities.
Clearings—Returns by Telegraph.
Week ending July 9.

1910.

1909.

’ er Cl.

New Olrleans________ _________________

81,352,874,065
122,953.552
113,487,567
24,754,800
201,9.85,900
52,534,160
8,496,973

$1,263,516,071
107,869,9.12
88,430,922
19,265,248
188,642,565
44,477,066
13,049,175

+ 7.0
+ 14.0
+ 28.3
+ 28.5
+ 7.1
+ 18.1
— 34.9

Seven cities, 5 d a y s __ __ _ . . . ___
Other cities, 5 d a y s ..................... ..........

S I,877,087,017
415,926,018

81,725,250,959
352,497,869

+ 8.8
+ 18.0

Total all cities, 5 d a y s . ___ . . . . . .
All cities, 1 d a y* ............... .........................

82,293,013,035
576,178,927

82,077,748,828
515,724,090

+ 13.5
+ 5.6

New Y o r k ............. - ....................................
B o s t o n ......................................... - ..............
P h iladelphia........................ .......................
B a lt i m o r e . ....................................................
C h ic a g o _______________
__________

Total all cities for w eek .......................




$2,869,191,902

$2,623,472,918

+ 9.4

1910.

Inc. or
Dec-

1909.

S
S
%
$
1
s
St. L ou is_____ 309,423,867 268,719,046 + 15.1 1.857,828,471 1,640,274,227
New O rleans.. 68,434,267 62,803,320
+ 8.9 492,662,901
475,530,147
Louisville
+ 2.2 353,977.00C 332,523,964
52,491,930 51,371,727
Houston . .
46,741,173 44,535,909
+ 5.0 320,095,73C 332,569,324
Galveston . .
25,217,500 22,343,500 + 12.9 166,323.50C
160.163,00C
Richm ond ..
29,9S8,074 28,677,014
+ 4.6 196,956,581
170,007,332
Atlanta ........... 38, OSS, 897 27,497,754 + 3 1 .2 266,79.3,26S 146,295,690
Fort W o r t h ... 25,752,192 22,783,919 + 13.0 168,062,440
159,160,891
M em phis_____ 20,294.74C 18,119,740 + 12.0 157,704,055 132,365,156
Savannah ___ 15,982,111 11,903,501 + 3 4 .3
89,721,754
104,613,596
Nashville . .
16,695,685 15,521,315
+ 7.6 101,013,995
95,541,078
N o r fo lk _____
12,065,46fc 11,361,856
73,151,958
66,616,701
Birmingham _. 10,383,522
50,358,01(
7,705,559 + 3 4 .8
64,325,729
Jacksonville . . 10,098,794
7,234,551 + 3 9 .6
62,326,333
45,038,318
Augusta. .
6,056,523 5,504,553 + 10.0
48,672,363
43,113,791
K n o x v ille ____
7,020,447
6,1.31,692 + 14.5
42,486,818
38,601,12;
Chattanooga
7.780,231
5,966,743 + 30.4
44,692,246
37,633,370
Little R o c k . . .
6,685,336
+ 7.2
6,236,079
43,529,517
40,486,700
M o b ile _______
5,627,402
3.3,767,210
5,070,365 + 11.0
37,301,480
O klahom a___
9,746,802
58,691.690
7,511,890 + 29.7
33,868,584
Charleston____
5,378,286 4,656,871 + 15.5
42,525,974
34,372,94'
Columbia ____
2,920.000 2,653.681 + 10.1
18,231,44;
21,435,350
Macon .............
3,278,515 2,701,800 + 2 1 .4
25,205,637
19,685,59
A u s tin _______
7,749,969
2,438,884 + 217.8
42,572,432
17,201,780
Beaumont __
2.627.S48 2,450,000
16,492,953
+ 6 .8
15,020.24;
G u th rie _____
1,410,000
1,171,200 + 20.4
7,411,630
9,146,959
Columbus, Ga_ ' 1,223,755
1,221,263
9,076,638
8,737,711
W llm ’t'n, N. C. 2,323,453
1,512,685 + 53.6
13,841,611
9,129,828
V icksburg____
914,966
913,153
+ 3 .5
7,739,490
8,092,403
V a ld o s ta _____
500 000
426,254 + 17.3
3,395,030
4,078.571
Jackson, Miss
1,800,000
1,326,046 + 3 5 .7
12,.326,640
10,106,972
M eridian*___
1.071,677
839,230 + 23.2
7,799,412 ‘
4,178,92(

4*6.2

+0.2

Tot. South’ n 752,731,843 658,531,960

+ 10.2 1,865.681,356 1,220,024,960

%
+ 13.3
+ 18.6
+ 6.5
— 3.7
+ 3 .8
+ 15.8
+ 82.4
+ 5.6
+ 19.3
+ 16.6
+ 5.8
+ 9 .8
+ 27.7
+ 3 8 .4
+ 12.9
+ 10.1
+ 18.8
+ 7.5
+ 10.5
+ 51.0
+ 23.7
+ 17.6
+ 28.0
+ 147.5
+ 9 .8
+ 234
+ 3 .9
+ 51.6
— 4.4
+ 2 0 .1
+ 21.9
+ 15.3

* Not Included In total; comparison Incomplete.

Week ending July 2.

Clearings at—
1910.

Canadian Bank Clearings.—The clearings of the Canadian
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
gain reaches 21.9%.

Inc. or
Dec.

St. Louis..'.........
New Orleans .
Louisville ...........
Houston ______
Galveston______
Richmond _____
Atlanta ........... ....
I'ort W o r t h .__
Memphis_______
Savannah ______
Nashville _____
Norfolk________
Birmingham____
Jacksonville____
Augusta........... ..
K noxville______
Chattanooga . Litllc R o c k ____
Mobile.........
Oklahoma . _.
Charleston______
Columbia____
M a c o n ..................
Austin ____
Beaumont
Guthrie . .
Columbus, Ga
Wilmington, N.C.
Vicksburg.
.
Valdosta ...........
Jackson . .
Meridian
Total Southern

Inc. or
Dec.

1909.

190S.

1907.

S
74,106,516
18,036,330
12,631.162
12,058,878
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

S
%
63,649,62! + 16.4
17,408,028
+ 3.6
13,299,864
— 5.0
10,705,716 + 12.6
5,583,000 + 11.8
6,161,000 + 14.8
6,058,874 + 42.6
5,426,774 + 0 05
4,651,687
—3.6
3,133,740 + 3 4 .7
3,391,278 + 12.0
2,576,223
— 1.5
1,939,211 + 22.2
1,514,986 + 54.8
1,182,452 + 24.4
1,692,103 — 10.0
1,112,954 + 55.5
1,499,067 — 11.0
1,487,907
— 5.3
1,400,000 45 7 .1
1,047,000
-f-G.5

675,000
1,500,006
575,006

550,000 + 2 2 .7
524,062 4-lSG.‘>
540;66 o
+ 6.5

546,228

625,000

438,514

411,776

369,925
197,166

286,266
221,405

+ 29.2
— 10.0

200,000
211,105

350,000

300,000
225,000

260,000
209,611

+ 15.2
+ 7.3

178,5S7,733

157,512,828

+ 13.4

122,056,604

145,965,918

8
53,8.85,108
10,101,567
10,037,295
8,000,006
4,683,000
6,100,000
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
939,041
691,553
850,294
1,109,114

$
58,443,351
17,271,358
14,122,499
8,778-337
5,379,000
6,346,758
4,270,199
3,06.3,968
5,002,763
2,825,860
3,800,000
2,364,472
2,438,715
1,621,924
1,245,736
1,556,142
1,438,177
1,297,317
1,419,275
802,591
1,090,000

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.
Descrip­
tion.

Par Value
or Quanity.

Actual
Value.

Stock\Sh’s.
97.840.94l!
JVal. $S,803,127,825 $8,618,506,987
R R . bonds $340,832,500 $330,662,429
G ov’ t bds.
$235,500
8252,306
State b d s ..
827.196,700
827,115,494
Bank stks.
S761.400
$1,643,011

Six Months 1909
Acer.
Price

Par Value
or Quantity.

Actual
Value.

Liter.
Price

99,136,372
97.9 $9,071,796,425 S8,682,125.853 95.7
97.0 $703,766,400 S074.447.669 95.8
107.1
S200.700
$205,987 103.0
821,663,784 100.3
99.7
321.597,200
$126,276 231.7
215.8
848,25'

T o t a l. . . $9,172,153,925j$8,978,180,227 97.9|$9,797,4 8,975 $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 A T T H E N EW Y O R K STOCK E X CH AN G E.
1909.

1910.
M'th. Number
of
Shares.

Values.
Par.

Values.

Number
of
Shares.

Actual.

Par.

Actual.

$
S
S
8
Jan . 24,538,649 2,255,816.775 2,236,641.564 17,275,500 1.009,551.575 1,550,409,801
Feb . 16,012.626 3,423,073,275 1.407,743,928 12,337,199 1,142,192,700 1,082,075,181
M ch. 14,988,179 1,336,803.725 1.327.470.419 13,650,595 1.240,583,900 1,175,409,760
lstq r 55,539,4546,015,693.775 4,971.861,911 43,263,294 j3,992,328,175j3,807,954,748
April 14,089,639 1,279,487.67511,256,488,974 19,055,618|l,719,193,S00 1,647,943,217
May 1 ! ,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 42,301,487 3,787,434,0503,646,645.07655.873.078,5.079,468,2504,874,171,105
_ ......
I
l
l
0 m’ s97,840.9418,803,127.8258,618,506,987 99,136,372’9,071,796,425 8,682.125,853

'

'

■

I

I

I

I

The following compilation covers the clearings by months
since Jan. 1:

THE CHRONICLE

74

[V O L . L X X X X I

ceedingly little fall in securities outside of the American de­
partment. American prices, of course, fell in accordance
Clearings, Total All.
with the fall in New York. The City generally assumes that
Month.
the worst is over in New York, though it was somewhat dis­
1909.
1910.
%
1909.
%
1910.
appointed by the further setback yesterday evening. If,
S
S
S
1
S
however, the worst is now over, the expectation is that we
Jan . . 17,143,348,295 14,052,390,538 + 22.0 5,894,272,314 5,168,090,843 + 14.0
shall see an increase of activity in London and a broadening
.Feb . . 13,111,985,258 11.260,311,084 + 16.4 4,960,845,197 4,372,605,760 + 13.4
M ch . . 15.021,382.183 12,623,772,489 + 19.0 5,975,198,570 5,136,934,369 + 16.3
of markets. The Chancellor of the Exchequer in his Budget
speech on Thursday stated that practically the income tax
ls t'q r . 45,276.715.736 37,936.474.111 + 19.3 16,830,315,081 14,677.630.972 + 14.7
arrears have now been all got in and that, indeed, all the ar­
April . 14,014.994.640 13,692,120,791 + 2.3 5.673.333.468 5,077,392,114 + 11.3
rears of last year have been got in except those new taxes
M a y .. 13,147,750,447 13,006,573,040 + 1.4 5,310,7 0,8 0 4,910,322,648 + 8.8
+
8.0
5,043.660,966
5.449.749.469
—
2.4
14,155,364,270
J u n e .- 13.810,070,581
in whose case the machinery for collection has not been com­
pleted. That being so, the Bank of England will very soon
2d q r . 40,972,825,668 40,854,058.101 + 0.3 16,459,873.827 15,031,375,728 + 9 .5
now lose control of the open market. The very large pay­
6 m os. 86,249,541,404 78,790,532,212 + 9.5 33,290.188,908 29.709.006,700 + 12.1
ments for foreign governments and foreign companies re­
ferred to above have largely increased the supplies in the
for the month of June and since January 1 in each of the last open market. On Tuesday, the interest on the national debt
will be paid, and throughout the month of July Treasury bills
four vears is shown in the subjoined statement:
borrowed to finance the Government while last year’s ar­
“
BANK CLEARINGS AT LEADING CITIES.
____________ __________________________ Jan. 1 to June 30-----------rears were outstanding will be redeemed. Money, conse­
1908.
1909.
1907.
1910.
1907.
1908.
1909.
1910.
(0 0 0 , 0 0 0 s
quently, will become exceedingly cheap and abundant, and
s
s
s
S
S
s
s
omitted.)
as the confidence in peace is great, as trade is rapidly re­
R 364 9,112 5,654 6,369 52,959 49,082 34,959 47,903
New York—
6,312
6,779
5,744
7,130
1,030
953
1,187
viving and as there is practically no speculation in London,
C hicago____
4,174
3,487
4,381
4,252
643
564
G60
B oston ....................
635
3,734
3,283
2,886
there is a very confident belief that we are about to see much
3,926
607
483
574
Philadelphia...........
681
1,640
1,597
1,473
1,858
258
241
269
better business on the Stock Exchange than for a long time
St. Louis__________
309
1,423
1,096
1,031
1,306
239
170
199
Pittsburgh----------231
1,155
919
1,122
817
past.
169
137
160
San Francisco____
191
715
673
607
633
115
99
115
The Chancellor of the Exchequer introduced his Budget for
101
Cincinnati-_______
747
774
697
592
124
102
119
Baltimore _______
132
the current financial year on Thursday. He imposes no new
792
1,295
1,123
837
126
122
181
Kansas City______
202
444
401
362
487
76
60
taxes, and he remits no tax put on last year. Practically,
Cleveland................
~'
493
416
493
395
67
53
63
New Orleans...........
it is last year’s Budget except that permanent provision is
526
425
527
477
105
72
Minneapolis...........
334
354
343
285
53
46
made for technical education, and old-age pensions are ma­
51
Louisville________
352
350
460
333
61
56
63
Detroit....................
terially increased. The expenditure of the year is estimated
324
277
289
259
45
46
49
Milwaukee----------326
324
407
244
49
by him at £171,857,000; but arrears on last year’s accounts
42
58
Los Angeles...........
202
203
186
160
31
27
30
Providence ...........
raise the total sum to be provided for to £198,930,000. The
283
428
361
48
295
48
62
O m aha....................
321
218
248
198
Chancellor of the Exchequer, without putting on any new
35
33
39
Buffalo...................
223
279
228
38
230
38
40
St. Paul.................
tax, estimates that the revenue of the year will amount to
229
202
208
35
179
34
35
Indianapolis...........
197 £199,791,000, showing an estimated surplus of £801,000.
243
226
33
190
35
40
40
Denver..................
160
197
170
25
144
24
29
The India Council offered for tender on Wednesday 40 lacs
Richmond..............
123
158
133
16
125
20
18
Memphis ..............
210
of its bills and the applications amounted to 430 lacs, at
301
255
43
190
36
48
49
Seattle - ..................
114
93
97
16
82
13
16
18
prices ranging from Is. 3 15-10d. to Is. 4d. per rupee. Ap­
Hartford -----------166
151
156
26
112
23
30
28
Salt Lake City----plicants for bills at Is. 3 31-32d. and for telegraphic transfers
74,238
80.873
10,482
56,693
73,520
9,231
13,394
at Is. 4d. per rupee were allotted about 13% of the amounts
Total ................ 12,934
4,553
5,377
3,787
4,093
653
617
761
867
applied for.
78.791
60,480
86,250
77,613
11,135
13,810 14,155 9,848
The following returns show the position of the Bank of
5,446 5,043 4,194 4,766 33,291 29,709 25,521 29,710
England, the Bank rate of discount, the price of consols,
&c., compared with the last four years:
M ON TH LY CLEA RIN GS.

Clearings Outside New York.

iBntietargi@oramevctal$ngltslt|tem£
(From our own correspondent.]

1910.
June 29.

1909.
June 30.

1908.
July 1.

1907.
July 3.
£
29,977,930
10,079,515
51,616,497
15,084,520
40,892,378
23,680,981
35,208,911

1906.
July 4.
£

30,280,620
Circulation------------- 28.697,050 30,209,960 29.976,265
2 1910.
12,093,255
9,618,021
Public deposits____ 24,681,969 12,312,152
48,369,459
London was taken by surprise by the heavy fall in prices Other deposits......... 50,460,630 58,493,837 51,197,083
16,977,133
securities 17,973,939 15,368,812 15,231,766
that occurred in New York on Wednesday and Thursday of Governm’t
36,547,195
Other securities____ 42,832,163 43,811,904 36,347,819
24,968,889
this week. It had been prepared for the gradual shrinkage Reserve,notcs&coln 32,149,301 29,313,222 27,081,128
36,799,509
bull.,bothdep 42,396,351 41,073,202 38,607,393
of quotations that took place previously, and it would not Coin& reserve
to 11a41H
38
H
have been surprised if the decline had continued for some Prop,
bilitlcs--------- p. c.
4
2
41) S
44H
4
3)4
3
2)4
2)4
Bank rate_____p. c.
time longer. But the severe break of the middle of this Consols,
87 11-16
84)4
2)4 P- c —
82)4
84K
, , 8 8
30d.
week came upon it quite unawares. It did not, however, S i l v e r - - - .................. 24 ll-1 6 d .
3 Id.
24(1. 24 11-lGd.
cause much loss. Owing to the constitutional crisis, the Clear.-housereturns300,052,000 320,837,000 302,520,000 321,762,000 324,878,000
The rates for money have been as follows:
death of King Edward and the collection of the arrears of
June 10.
June 17.
June
24.
‘
last year’s taxes, operators in London had feared to speculate Bank of England r a t e ..____ July 1.
3
3
3
on any great scale. Consequently, there is at present very Open Market rale—
2 )6 0 2 )6
2 3-16
60 d a y s .........
2)4
1)4
little stock being carried over in the market, notwithstand­ Bank bills—
2 )4 0 2 )4
2)4
—3 months____
2 1 -1 6 0 2 )6
1)4
2 )4 0 2 )4
ing the rubber and the oil booms. These booms, especially
2 1-1 6 0 2 )6
2)4
— 4 months____
1)4
2 )4 0 2 )4
—6 months____
2)4
2)4
294
the rubber boom, are quite peculiar. The rubber boom Trade bills—3
3
months____ 2)4^294
3(i>3'4
294
originated with the merchants interested in the rubber
3 @ 3 )4
3 )4 0 3 )4
— 4 months____ 2 )4 @ 2 )4
2)4
allotted for deposits—
trade, and there was a market for rubber securities in Mincing Interest
1) 4
«.
1)4
B y joint-stock banks.........
1)4
1)4
Lane, the headquarters of the trade, before they were dealt
B y discount houses:
2
2
2
At c a ll.............................
in upon the Stock Exchange. The Mincing Lane market is
1)4
2)4
2)4
2)4
7 to 14 days.
1M
quite active still. It is said by the well-informed that the
The bank rates of discount and open market rates at the
dealings of Mincing Lane have been much more with the
been as follows:
United States, India and the countries where rubber is pro­ chief Continental cities haveJune
June 4.
June 11.
18.
Rank Open
duced than with the ordinary English speculative public.
Hank Open
1lank Open
Rates o f
Rate. Market. Rate. Market.
Rate. Market
at—
The oil boom, again, though it has made two or three prom­ P a r isInterest
2)4
2 )4
........................
3
2 )4
33
2)4
ising starts, has never attained to great dimensions, these Berlin............................
3 'A
3)4
4
3)4
44
3)4
3)4
3)4
3)4
44
3)4
two booms, then, have affected the Stock Exchange much Hamburg...................... 4
3)4
3)4
.................. 4
3)4
4
3 7-10
less than might be supposed by persons resident at a distance Frankfort
3)4
3)4
Amsterdam ................ 5
4)4
5
4)4
2)4
4)4
4)4
2) 4
from London. Speculation in other departments, as we Brussels ____________ 4)4 2)4
4)4
2 )4
4
4
3 9-16
3) 4
Vienna
...................
..
4
3
94
4
3)4
have said, has been held in check by political considerations. St. Petersburg______ 5 nom.
nom.
5
nom.
5
5
nom.
4)4 4 4
4)4
3)
How very strong, indeed, the stock markets are is proved by Madrid.......................... 4)4 4
4)4
4
4
5
4
4
5
4
the fact that the fall in New York occurred at one of the most C openhagen................ 5
The quotations for bullion are reported as follows:
trying periods in the whole year for the London Stock Ex­
June 30. June 23.
SIL V E R .
GOLD.
June 30. June 23.
change, that is, in the very last week of the first half of the
d.
London Standard.
d.
Standard.
s.
d. s. d.
Bar silver, line, o z ____24 11-16 24)4
year, and at a time, moreover, when the Bank of Bngland BarLondon
9 77 9
gold, tine, o z _____ 77
!494
“
2
mo.
delivery,
o
z
.
24)4
U. S. gold coin, o z ------ 76
5 76 5
had complete control of the outside market. Immense sums German
26 11-16
Cake silver, o z ----------- 26)4
gold coin, o z . . 76
5 76 5
nom.
had to be paid in London during the week. Ihe Messrs. French gold
|M exlcandollars........... nom.
coin, o z . . 76
5 76
Rothschild alone redeemed on the 1st of July, for the Bra­ Japanese y e n .............. 76 4 76
Messrs. Pixley & Abell write as follows, June 30:
zilian Government, bonds exceeding two millions sterling,
LD .—The arrivals this week amounted to £870,000, India required only
and they redeemed other debt for other governments, rais­ £40G O000,
and of the balance the Continent will take about £ 150,000 and the Bank
ing the total to considerably more than three millions ster­ of England
should secure the remainder. Since our last the Bank has received
000 In bars, £16,000 In sovereigns from Australia and £34,000 In sovereigns
ling. These figures arc given only as a specimen of what has £349
from E gypt, while £150,000 In sovereigns has been withdrawn for South Africa.
been taking place during the week. Moreover, the last Next week we expect £687,000 from South Africa and £103,000 from India. Ar­
Stock Exchange settlement of the half-year began for mines rivals— South Africa, £800,400; West Africa, £65,000; West Indies, £12,000; total,
Shipments— Bom bay, £31,000.
on Friday of last week and for other securities on Monday of £877,400.
S IL V E R .- The market shows very little change from last week and prices have
fluctuated between 24)6(1. and 24 11-16(1. The demand has come almost entirely
this week, and ended only on Wednesday night.
India, partly for shipment and partly for speculative account; the volume of
Fortunately for the operators in American securities, the from
the latter Is attracting Increased attention and causes some uneasiness. The upmaking up in them took place on Monday, that is, before the country absorption, which Is the real measure of the legitimate demand, shows no
and amounts only to a dally offtake of about £5,000. Stocks In Bom bay
really heavy fall occurred. Consequently the differences to Increase,
show a decrease of 800 bars, chiefly on requirements for the end of June settlement,
be paid on Wednesday were much smaller than they would but the total held Is still over £1,000,000. Shipments to India this week arc ex­
to be heavy, and spot silver In consequence Is still the better market of the
have been if the making up had taken place on Wednesday. pected
two and commands a premium of 1-16(1. The total lying In London Is estimated
Still, it is noteworthy of the smallness of the speculative at nearly £1,700,000, but the Indian shipment will considerably reduce this amount.
account open in London at present that there has been ex­ Conditions In China show no. Improvement and exchange Is still 1 )4% below sliver




L o n d o n , S a tu r d a y, J u ly

parity; their operations here have been unimportant, but It is reported that they have
sold in India. The price In India Is Us. G3 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.
1907-08.
F orty-three w eeks —
1909-10.
1908-09.
78,661,950
Imports of wheat..................................cwt.85,054,540 73,561,000
18.924.300 18,571,786
Barley
............. - .................19,864,000
12,100,800 10,480,699
........... 16,498,800
Peas
’
1.295.580
1,289,170
Oats
2,004,896
1.038.580
871,830
Beans . . . . . .............
1,929,321
33,190,357
29.726.300
Indtancorn.......................................... 29,2 ?3 ’9r?
9,614,000 11,915,400
Flour .................................................. 9,656,151

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 on
Sept. 1):
1906-07.
1907-08.
1
1909-10.
1908-09.
73,561,000
Wheat Imported................................. .cwt.85,054,540
9,614,000
Imports of flour.......................... — 9,656,151
25,147,696
Sales of home-grown............................... .24,584,513

75,539,052
11,336,472
33,026,848

78,661,950
11,915,400
30,580,205

Total ............
119,295,204 108,322,696 121,157,555 119,902,372
Average price wheat, w eek..............
29s. 4d.
42s. 8d.
31s. 5d.
31s. 4d.
Average price, season......................
32s. 8d.
35s. 2d.
33s. 2d.
27s. Id.

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
This week.
Last week.
qrs. 2,930,000 3,140,000
W h e a t ......... ..........................
Flour, equal t o .......................... .q r s .
115,000
130,000
M aize........... ................................ qrs.
670,000
620,000

1909.
2.640,000
110,000
955,000

1908.
2.200,000
580,000

The British imports since Jan. 1 have been as follows:
P er
Cent.

D ifferen ce.

1910.
Imports—
£
J a n u a ry .............................................. 55,921,154
F eb ru ary.............................................. 51,158,357
M a r c h ........... .................................... f 8,120,393
April ____________ - ____ - ________ 59,555,459

1909.
£
53,500,364
50,468,143
52,013,465
49,173,762

£
+ 2.420,790
+ 690,214
+ 6,106,928
+ 10,381,697

+ 4.5
+ 1.3
+ 11.7
+ 2 2 .0

Four m onths.............................. 224,715,846

205,113,660

+ 19,602,180

+ 9.6

9 .795—

The First National Bank of Vacaville, California. Capital, $50,000.
'I’ . H . Buckingham, President; S. P. Dobbins, Vice-President; Har­
low M. Plimpton, Cashier.
9.796—
The First National Bank of Coleridge, Nebraska. F. A . McCornack, President; J. W . LInkhart, Vice-President; Geo. I. Parker,
Cashier; C. R . Applegate and G. L. W atson, Assistant Cashiers.
9.797—
The 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.
9 .798—
The Dexte r Horton National Bank of Seattle, W ashington. Capi­
tal, $ 1 ,0 0 0 ,0 0 0 .
N . H . Latimer, President; R . H . Denny, Vice­
President; M. W . Peterson, Cashier; G . F . Clark, H . L. Merritt,
C. E. Burnside, Assistant Cashiers. Conversion of “ Dexter, Hor­
ton & C o., Bankers."
9 .799—
The Nells National Bank, Neffs, Ohio. Capital, $25,000 . Frank­
lin Neff, President; Alexander Neff, Vice-President.
9 .800—
The First National Bank of San Leandro, California. Capital,
$50,000.
L. C. Morehouse, President; A . B . Cary, Vice-President;
Chas. H . Hale, Cashier.
9.801—
The Farmers’ National Bank of Ponca C ity, Oklahoma. Capital,
$50,000 .
(Conversion of The Farmers’ State Bank.)
9 .802—
The Third National Bank of Plalnview, T e xas. Capital, $100,000.
J. E. Lancaster, President; L. G. Wilson and L . A . Knight, Vice­
Presidents; H . M . Burch, Cashier; H . C. von Struve, Assistant
Cashier.
C H A N G E O F C O R P O R A T E T IT L E .
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
name of place of location.
•
9 ,270— The Musselshell Valley National Bank of Harlowton, Montana,
Into “ The First National Bank of H arlow ton."
L IQ U ID A T IO N .
8,339— The National Bank of N orton, 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:
B on d s.
<5 *
Slocks.
22 Dossert & Co....................................... 10 $1,000 Chic. Hammond & West. RR.KS
259 6-100 Florida Land & Develop­
1st 6 s, 1927, J. & J______ 115% & Int.
ment Co____________ 85,000 lot $7,000 Consumers’ Albany (N. Y .)
llrew. Co. 5s, 1925, J.&J.S3.325& lnt.

The export* since Jan. 1 have been as follows:
1910.
E xp orts—
&
,
January ................................................ 34,803,115

™ f ry..... -......IJ'jSiSS
A

p

r

i

l

....................... 3 5 ,2

Four months......... .............

9 2 ,2 1 5

136,178,758

1909.

D ifferen ce.
£

£

28,803,046
28,024,452
31,904,673
28.958,458
____________

+
+
+
+

6,000,069
3,667,418
2,486,885
6,333,757

117,690,629

P er
C ent

+20 8
+ 13.0
+ 8.9
+ 2 1 .9

1910.
£
January
8,147,164
February.................... - ..................... 10.1S4.560
March
8,443,988
April
11,858,654
R e-exports —

1909.
£
6,687,551
8,473,634
7,540,319
8,631,006

P er
C ent

D ifferen ce.

£
+1,459,613
+1,710,926
+903,669
+3,227,648

+ 21.8

+ 20.0
+ 12.1
+ 3 7 .4

Four months................................ 38,634,366
31,332,315
+7,302.051 + 2 3 .3
N o te .— The aggregate figures are official. They Indicate that slight adjustments
have been made in the monthly returns as Issued.

English Financial Markets— Per Gable.

The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
L on d on ,
M on.
■ Week ending July 8.
Sat.
24%
Silver, per o z ._ ....................d. 24%
82 5-16
Consols, new, 2 % per c e n t s .-----82 7-16
For account........... - ............ ..........
French Rentes (In Parl9)..fr. 97.97 % 97.95
62%
Amalgamated Copper C o ... 63%
8
6 Anaconda Mining Co------8
100
Atch. Topeka & Santa F e .. 99%
102
Preferred ..........
101
112
Baltimore & Ohio................. HO%
Preferred — ........................... - - ­
194%
Canadian Pacific.....................-194
76%
Chesapeake & Ohio........... .. 76 %
25%
Chicago Great Western------- 25
123
Chicago Milwaukee & St. P.122
32%
Denver & ltlo Grande........... 32
73%
Preferred ............................... 72%
26%
E r ie .............................................. 26 %
42
First preferred-------------------43
33
Second preferred.................. 33
133%
Illinois Central.................... --J33
148%
I.oulsvIIlc & Nashville--------- 148
35
Missouri Kansas & Texas— 34 %
Preferred ................- .....................
Nat. RR. of Mex., 1st pref----------Second preferred.............. - - - 118
N. Y. Central & Hudson Rlv.117
43%
N. Y . Ontario & Western.
43
100%
Norfolk & Western.................100%
92
Preferred - .....................................
Northern Pacific...................... - - - ­
07“
a Pennsylvania.........................67
75%
a Reading................................... 75
a First preferred............................
a Second preferred........................
116%
Southern Paciflc.......................117
24%
Southern R y........... ................... 23%
58
Preferred _______________ 57
166%
Union Pacific........................ .166%
94%
Preferred ............................. 94
74%
U. S. Steel Corporation......... 75
119
Preferred........... - .................118%
17%
Wabash ...................
17%
39
Preferred ..........
38%
Extended 4s........... - - - ............ ..
a Price per share,
b £ Sterling.

__
__

T u es.

24%
82%
82%
97.95
63%
8
97%
102
111%
91%
193
70%
25
120%
32
72
25%
42%
32
133
147%
35%
67%
68
27
117
43%
101
92
122%
66%
74%
46
49
115%
24%
58
163%
93%
72
118
17%
38
67%

W ed .

24 5-16
82 1-16
82%
97.52%
59%
7%
96
101%
109%
91%
191%
75
24%
119
30%
71
25%
42
33
132
144%
32%
67
69
27%
115
43%
99%
92
120
65%
72%
45%
48
113%
23%
57%
160%
92
69%
117
17
36
66%

T h u rs.

F r i.

25 3-16 25%
82 182%
82 3-16 82%
97.40
97.40
61%
61
7%
7%
101%
98%
102%
102
110%
111
91%
91%
194%
193%
75%
75%
24%
24%
125
122
31%
31%
72
72
25%
25%
43
42
33
33
134
133
140%
145%
33%
33
60%
67
69%
69%
28
28
117
116%
44%
43%
101
99%
92
92
122
121%
06
• 60%
74%
73%
45
45
48%
48
116%
117%
22%
23%
56
55
164%
166%
92
92%
72%
73%
118%
118
17
17%
36%
36
67
66%

Commercial and l^iscjellaixemts fjem s
National Banks.—The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
TO

C O N V E R T IN T O
APPROVED.

N A T IO N A L

BANK

The Flathead Valley State Bank of Ronan, M ontana, Into "T h e First
National Hank of R onan.”
N A T IO N A L B A N K S O R G A N IZ E D .
J u n e 23 to J u n e 29.
9 7 9 4 — The Solomon National Bank, Solomon, Kansas.
Capital, «2 5 ,0 0 0 .
F Ilagenmn, President; Fred. F . Ebcrhardt, Vice-President; M. D .
Sampson Jr., Cashier; T . T . Rlordan, Assistant Cashier.




DIVIDENDS.

The following shows all the dividends announced for the
future by large or important corporations:

Dividends announced this week are printed in italics.

+18,488,129 + 1 5 .7

The re-exports of foreign and colonial produce since Jan. 1
show the following contrast:

A P P L IC A T IO N

75

THE CHRONICLE

July 9 1910.j

N a m e o f C om pa ny.

P er
Cent.

Railroads (Steam).
3
Alabama Great Southern, preferred-----AtchlsonTop. & SantaFc, com. (N o. 21 ).
1%
2 %
Preferred (No. 2 4 ) . . ........................ ........
3
Atlantic Coast Line R R .. com m on...........
2
Bangor & Aroostook......................................
Boston & M aine, common (quar. ) .............
1%
3
Preferred________ ______ ____ — ..........
Canada Southern...........................................
1%
2
Central o f New Jersey (qu ar.)---------------2
Chicago & Alton, preferred----------- -------2
Prior lien and participating stock_____
Chic. Milw. & St. Paul, common & p r e f..
3%
Clev. Cine. Chic. & St. Louis, pref. (qu.)
1%
2
Cuba R R .. preferred.....................................
Delaware Lackawanna & Western (quar.)
2 %
Denver & ltlo Grande, preferred________
2 %
East Pennsylvania______________ ________
3
Fonda Johnstown & Gloversvllle, c o m ..
2
Georgia R R . & Banking (qu ar.)......... ......
2 %
Granite Railway (N o. 7 4 )............................
1
Great Northern (q u a r.)......... ........ .......... ..
1%
Harrisburg Ports. Mt. Joy & Lancaster.
3%
E x t r a ....................................................
%
2
H ocking Valley, com m on......................
Kansas City Southern, pref. (q u a r.)____
1
6
Lake Shore & Michigan Southern____
Guarant’d stk. (Mich. So. & N or.Ind.)
6
3
Lehigh Valley, c o m m o n ............................
5
Preferred ........... ........................................
3
Little Schuylkill Nav., R R . & Coal-----3%
Louisville & Nashville........... .....................
Mahoning Coal R R ., com m on.................... 1 0
3
Michigan Central............... ...........................
3
Mine Hill & Schuylkill H aven---------------2
Minn. St. P. & S. S. M., leased lines-----2
National Railways o f Mexico, 1st p r e f ...
N. Y . Cent. & Hudson Itlver (qu ar.)___
1%
2
N. Y . Ontario & Western, com m on.........
1
Norfolk & Western, preferred (q u a r .)..
4
Northern Central......... ............ .............. ..
Northern Pacific (guar.)..............................
1%
Pitts. Cln. Ch. & St. L., com . & pf.(qu .)
1%
Pittsburgh & Lake Erie...............................
5
Reading Company, c o m m o n ....................
3
2
First preferred_______ ________________
1
St. Louis & San Fran., 1st pref. (q u a r .)..
St. Louis Southwestern, preferred...........
2 %
Texas Central, preferred....... .....................
2 %
Toledo St. Louis & Western, pref. (quar.)
1
United N. J. R R . & Canal, guar, (quar.)
2 %
1
Western Maryland, preferred (quar.)____
W hite Pass & Y u kon------- --------------------1/
Street and Electric Railways.
3
Athens Electric R y ., common & p r e f..........
Auburn & Syrac. El. R R ., pref. (quar.)
1%
Aurora Elgin & Chic. R R ., com . ( q u .) ..
%
Preferred (q u a r.)......... ..................... - . . .
1%
3
Boston & Northern Street R y ., pref____
Boston Suburban Elec. Cos., pref. (quar.) $ 1
2
Brooklyn City UR. (guar.)--------- -------Cln. Newp.& C ov.L t.& T r.,eom .& pf.(qu.)
1%
2
Consolidated Traction o f New Jersey-----East St. Louis <fc Sub.,pref.(gu.) (N o. 17).
1%
3
El Paso Electric Co., pref. (N o. 15).........
Fort Smith Light & Tract., pref. (q u a r.).
1%
1
Gary & Interurban R y . (N o. 1 )...............
1
Indianapolis Traction & Terminal.............
3%
Jacksonville Electric Co., com . (N o. 12).
3
Preferred (N o. 16)____________________
Lewis. Aug. & Walerv., pref. (gu.) (No. 1)
1%
2
Manchester Traction, Light & P o w e r ...
M exico Tramways (guar.)....... .....................
1%
New Orleans City R R ., com m on................ $ 1
Preferred .................................................. $2 50
1
Northwestern Elev.. Chicago, pref. (qu.)
3
Old Colony Street R y ., preferred-----Otlaica Electric Ry. ( g u a r .) ................
2 %
Ottumwa R y . & Light, pref. (qu ar.)-----1%
Paciflc Coast Power, common (N o. 5 ) . .
2 %
Philadelphia Company, com mon (q u a r.).
1%
Common (extra).............................. % 6
2
Railway & Light Securities, com m on..
3
Preferred ......................................................
Rio <le Janeiro Tram., L. & Pow. (gu a r.)..
St. Charles Street R R ., New Orleans------ 1 S3

W hen
Pa yable.

Aug.
Sept.
Aug.
July
July
Oct.
Sept.
Aug.
Aug.
July
July
Sept.
July
Aug.
July
July
July
July
July
July
Aug.
July
July
July
July
July
Aug.
July
July
July
Aug.
Aug.
July
July
Oct.
Aug.
July
Aug.
Aug.
July
Aug.
July
Aug.
Aug.
Sept.
Aug.
July
July
July
July
July
July

B ooks Closed.
D a ys Inclu sive.

29 Holders of rec. July23a
1 Holders of rec. July29a
1 Holders of rec. June30a
11 June 23
to July 11
1 2 July 10
to July 13
1 Holders of rec. Sept, la
1 Holders of rec. Aug. 15a
1 Holders of rec. June30a
1 Holders of rec. July 19a
15 Holders of rec. June30a
15 Holders of rec. June30a
1 Aug. 19
to
Sept. 25
2 0 Holders of rec. June24a
1 Holders of rec. June30a
2 0 Holders of rec. July 5a
15 June 25
to July 5
19 Holders of rec. July 9a
2 0 Holders of rec. Julylla
15 July 2
to July 14
15 Holders of rec. July 5
1 Holders of rec. Ju lylla
1 0 Holders of rec. June20a
1 0 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
14 Holders of rec. June 30
14 Holders of rec. June 30
15 June 24
to July 14
1 0 July 21
to
Aug. 10
1 Holders of rec. Julyl5a
29 Holders of rec. June30a
to July 14
15 June 21
1 Holders of rec. Se*t.20a
1 0 Holders of warr’t No. 5
15 Holders of rec. June21a
15 July 31 to Aug. 15
18 Holders of rec. July 30a
15 Holders of rec. Junc30a
1 Holders of rec. Julyl2a
25 Holders of rec. July 15a
2 Holders of rec. July 23
1 Holders of rec. July 15a
1 0 Holders of rec. Aug.24a
1 Holders of rec. Julyl8 a
15 Holders of rec. June30a
15 Holders of rec. July 2
15 Holders of rec. June30a
1 0 June 21
to June 30
2 0 Holdersof rec. July 15a
15 July 1 to July 15

June 30 Holders of rec. June 30
July 15 Holders of rec. Junc30a
July 11
June 24
July 11
June 24
Aug.
1 Holders of rec. July 16
July 15 Holders of rec. July 5
July 15 July 6
to
July 15
July 15 July 1 to July 15
July 15 July 2
to July 14
Aug.
1 Holders of rec. Julyl5a
July 11 Holders of rec. June25a
July 15 Holders of rec. June 30
July 1 0 July 1 to July 9
July 30 June 24
to June 30
Aug.
1 Holders of rec. Julyl2a
Aug.
1 Holders of rec. Julyl2a
Aug.
1 Holders of rec. July 15a
July 15 Holders of rec. June30a
1
Aug.
July 11 July 1 to July 10
July 11 July 1 to July 10
July 18 Inly 9
to July 18
1 Holders of rec. July 16
Aug.
1 Holders of rec. June30a
July
July 15 Holders of rec. June 30
July 16 Holders of rec. July la
2 Holders of rec. July la
Aug.
2 Holders of rec. July la
Aug.
1 Holders of rec. July 16
Aug.
Aug.
1 Holders of rec. July 16
Aug.
1 July 16
to July 31
July 15 Holders of rec. June 30

THE CHRONICLE

76
Name o f Company.

Per
Cent.

When
Payable.

Street and Electric Railways (Concl.)
Seattle Electric Co., com . (auar.) (N o. 7)
1H July
l
Union Traction of- Indiana, common_____
July
July
United Itys. of St. Louis, pref. (q u a r .)..
United Traction, Pittsburgh, preferred-----July
Trust Companies.
Union (q u a r.)....... ........................................ 12)S July
.
Fire Insurance.
9
July
O er m a n ia ......... - .............................................
Miscellaneous.
2
July
Alliance Realty (qu ar.)_________________
6
July
E x t r a ......... ............ ............ .......................
1
July
American Cement (N o. 22)......... . ............
1
July
American Chicle, common (m o n th ly )..
l
July
Common, extra............. ...........................
1
July
American Cas & Electric, com . (q u a r .)..
Aug.
$4
American Glue, preferred-........................
Am er. Light & True., common (quar.) —
2 H Aug.
lYiSlk. Aug.
Common (payable in common stock) —
Preferred (quar.)_____________________
1H Aug.
July
American Locom otive, preferred (qu ar.).
Amerlcan Seeding Machine, nref. (quar.)
1H July
American Shipbuilding, pref. (qu ar.)-----l H July
1
July
Amer. Smelt. & R ef., com . (qu.) (No. 26)
American Steel Foundries (quar.)______
\M Aug.
2
July
Amer. Telep. & Teleg. (q u a r.)..............
July
loh
American Thread, common____________
2 Vi July
P referred......... .......... .............................
July
1
American Type Founders, com . (quar.)
154 July
Preferred (qu ar.)...................................
154 July
American W oolen, pref. (quar.) (N o. 45)
50c. July
154 July
54 July
First preferred (extra)___
July
Second preferred (qu ar.).
54 July
2
July
Bell Telephone of Canada (q u a r .)-------152 July
Bell Telephone of Pennsylvania (qu ar.).
2
July
Bush Terminal, com m on (No. 1)--------- 154 Aug.
Butte Elec. & Pow ., pref. (qu.) (N o. 36)
154 July
Canadian Westinghouse (quar.) (No. 22)
154 July
Central Coal & Coke, com mon ( q u a r .)...
154 July
Preferred (q u a r.)______ _____ - ­
l
July
Chicago Pneumatic Tool (q u a r .)..
July
2
Olaflln (II. B .), com mon (q u a r .)..
1
Aug.
Columbus Gas & Fuel, com mon (N o. 1)
2e
Aug.
Consolidated Car H eatin g ...................
154 July
Consolidated Ice, Pitlsb., pref. (quar.).
July
1
Corn Products Refining, pref. (q u a r .)..
154 July
Cuyahoga Telephone (quar.)--------2 54 July
Delaware Lackawanna & Western
154 July
Detroit Edison (qu ar.)....................
54 July
1
July
Distilling Co. of Am er., pref. (qu ar.).
154 July
Sept.
5
3
Aug.
Edlson El. III.. Boston (auar.) (N o. 85)
Electric Co. o f Am erica......................
354 Aug.
2
July
General Electric (qu ar.)..................
Uarbison-Walker Refractories, pref. (qu.).
154 July
2
July
Illinois Brick ( q u a r .)...................July
1
July
1
Intcrnat. Harvester, com . (qu.) (No. 2 ).
1
Sept.
International Nickel, com . (qu ar.)-----54 Sept.
Common ( e x t r a ) - ..................................
July
25
C om m o n (e x tra )................- .................Preferred (q u a r.)____________________
154 Aug.
International Paper, pref. (qu ar.)-------54 July
Internal. Steam Pump, pref. (qu.)(N oA 5)
154 Aug.
Kansas City Breweries, pref. (quar.)-----154 Aug.
2
July
La Rose Consolidated Mines (q u a r.).
2
Aug.
Lehigh Coal & Navigation (N o. 127)-----1
Aug.
Massachusetts Gas Cos., common (quar.)
154 July
Massachusetts Lighting Cos. (quar.)-----1
July
M exican Light tfc Power, common (quar. ) . .
254 July
Mexican Telegraph ( q u a r .) ......................
Michigan State Telephone, pref. (qu ar.).
154 Aug.
154 Aug.
M inneap. Gen. Elec., com. (qu.) (No. 12).
3
Aug.
Preferred (No. 2 3 )........... - - ........... - - - - ­
154 July
National Biscuit, com . (quar.) (N o. 4 7 ) ..
154 July
National Carbon, common (quar.)................
1
July
National Fireproofing, preferred (qu ar.).
154 July
Nebraska Telephone (q u a r.)----------------- July
New Orleans C.as L ight................................. S3
154 July
New Y ork Air Brake (qu ar.)......................
July
3
New York Mutual Gas Light....................
July
2
Niagara Falls Pow er...................... ...............
4
Sept.
NIpe Bay Co., com m on (No. 1 )..................
7
Aug.
Preferred (No. 1).................................. —
July
5
Nlplsslng Mines (q u a r.)----------- -------------254 July
E x t r a .........................................................
Northern States Power, pref. (qu ar.)-----154 July
July
1
N ova Scotia Steel & Coal, L td .,co m .(q u .)
July
2
Preferred (q u a r.).....................................
Oklahoma Gas & E lec., pref. (qu ar.)-----154 July
Osceola Consolidated M in in g .................... $4
Otis Elevator, preferred (q u a r.)................
154 July
Pacific Telep. & Teleg., pref. (q u a r .)..
154 July
People’ s Gas Light & Coke (q u a r.)-----154 Aug.
Pittsburgh Coal, preferred (qu ar.)--------154 July
Pope Manufacturing, com m on (N o. 1 ) ..
254 ruly
Preferred (q u a r.)...................... .................
154 July
2
July
Procter & Gamble, pref. (q u a r.)...............
2
July
Quaker Oats, com mon (qu ar.)....................
Com m on(extra)______________________
54 July
154 Aug.
Preferred (qu ar.).......................................
3
July
Realty Associates (No. 1 5 ) . . ......................
2
Recce Buttonhole Sew.M ach.(qu.) (N o.97)
July
1
fuly
Rhode Island Perk. Horseshoe, pref.(quar
San Diego Cons'd Gas & Elec., pref. (qu.)
154 July
254 July
Securities Com pany----------- --------------------1
July
Shawlnlgan Water & Power (q u a r.)-----Southern New England Telephone (quar.)
154 July
July
3
Standard Underground Cable (qu ar.)-----July
1
Union Bag & Paper, pref. (qu.) (No. 4 5 ).
July
3
Union Switch & Signal, com .& pref. (qu.)
United Cigar Stores,C orp.of(qu.) (N o. 4)
154 July
54 July
E x t r a -------------------- ---------------------------July
2
United Fruit (quar.) (N o. 44)----------------United Gas & Eeclric o f N . J ., p ref............
254 July
2
July
United Gas Improvement (qu ar.).............
2
July
U. S. Rubber, 1st pref. (quar.)....................
Second preferred (quar.)............. ..............
154 July
July
1
U. S. Sm elt., R ef. & Min., com . (quar.)
154 July
P re fe rre d ....... ...................- .......................
Virginia-Carolina Chem., com. (quar.) —
154 i Aug.
July
2
Preferred (quar.) (No. 59) — ................
Vulcan Detlnnlng, pref. (qu ar.)________
154 July
Preferred (extra)........................................
id July
July
5
Wells, Fargo
C o.........................................
Western Union Teleg. (quar.) (No. 165).
54 July
Westinghouse Air Brake (quar.)................
254 July
Extra ..........................................................
154 July
July
2
Special ........................................................
Westinghouse El. A Mfg., pref. (quar.)
154 July
White (.1. G.) & Co., pref. (quar.)_______
154 Aug.

Hi

5

IS
9
11
15

Books Closed.
Days Inclusive.
Holders of rec.
July 0
to
June 25
to
Holders of rec.

July la
July 10
July 10
July 9

6

July 10

9

to

Holders of rec. July

1

rs

15
9

a Transfer books not closed, b Also declared
payable Nov. 1 to holders of
record Oct. 1. d Correction, e Declared 4 % , payable 2% Aug. 1 to holders of
rec. July 1 5 a n d 2 % Feb. 1 1911 to holders of rec. Jan. 15 1911. / Less Income tax.
g o n account of accumulated dividends, h On $4 50 paid In. (D eclared 5 % ,
payable In quarterly Installments.




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, the actual figures
at the end of the week are also given:
For definitions and rules under which the various items are
made up, see “Chronicle,” V. 85, p. 836.
W e omit two ciphers (00) in all cases.

7

15 Holders of rec. July 5
15 Holders of rec. July 5
10 to
July 24
23
20 Holders of rec. July 14
20 Holders of rec. July 14
6
to
July 12
12
1 July 15d to
Aug. Id
1 July
17 to
July 31
17 to
July 31
15 July
1 July
July 31
17 to
21 July
6 to
July 21
15 Holders of rec. June30a
15 July 3
to
July 15
15 June 25 to
June 28
15 Holders of rec. July 30
15 Holders of rec. June30a
8
1 Holders of rec. MaylSa
15 Holders of rec. J u ly lla
15 Holders of rec. J u ly lla
15 June 25
to
July 7
20 Holders of rec. July 2a
15 Holders of rec. July 7a
15 Holders of rec. July 7a
15 Holders of rec. July 7a
15 Holders of rec. July 7a
15 Holders of rec. June24a
15 July 6 to
July 15
15 Holders of rec. July la
I Holders of rec. July 5a
1) July 1 to
July 10
15 July 1 to
July 15
15 July 1 to
July 15
25 July 16 to
July 25
15 Holders of rec. July 7a
1 Holders of rec. Julyloa
1 Holders of rec. JulylSa
20 July 12
to
July 20
11 Holders of rec. June30a
31 Holders of rec. JulyJ 15
15 Holders of rec. July la
15 Holders of rec. July la
30 Holders of rec. July 9a
29 Holders of rec. July 8a
25 Holders of rec July 15
1 Holders of rec. July 30
1 Holders of rec. July 15
to
Aug. 3
3 July 24
15 Holders of rec June 4a
20 Holders of rec. July 9
July 15
15 July 3 to
15 Holders of rec. July 5
15 Holders of rec. June 25a
Sept. 1
1 Aug. 13 to
Sept. 1
1 Aug. 13 to
15 Holders of rec. June 6
Aug. 1
1 July 13 to
15 Holders of rec. July 5a
Aug. 1
1 July 21 to
15 Holders of rec. July 20
July 17
20 July 1 to
31 Holders of rec. July 30
1 Holders of rec. July 16
15 Holders of rec. July la
15 ’ '
"1 to
July 15
15 Holders of rec. June30a
1* '
‘ 7 to
Aug. 2
1 Holders of rec. JulylSa
1 Holders of rec. Julyloa
15 Holders of rec. June28a
15
6
to
July 15
15
s of rec. July 5
10
1 to
July
9
15 Holders of rec. June 30
29 Holders of rec. J u ly lla
9 Holders of rec. June28a
25 Holders of rec. July 15
15 Holders of rec. Sept. 1
31 Holders of rec. July 30
20
1 to
July 17
20
1 to
July 17
15 Holders of rec. June 30
July
5
15 July 1 to
1 to
July
5
15
15 Holders of rec. June 30
2S Holders of rec. July 5a
15 Holders of rec. June 30
1 to
July 15
15
25 Holders of rec. Aug. 3
25 Holders of rec. July 15
30
30
15
16
16
31
15
15
15
15
July 15
15
July 7
20
15 Holders of rec. July 1
11
6
to
July 11
15
July 10
9
15
July 15
15 July 2
July 15
15
15
1 to
July 14
15
30
30
15
15
Aug. 15
15
July 20
20
July 9
20
July 9
July 15
June20a
15
9
July 9
9
July 9
July 9
15 July
July 15
1

[V O L . L X X X X I .

Banks.
00s omitted.

Capital.

Loans.
Average.

Surplus.

$
$
2,000,0
3,494,1
Bank of N. Y . .
Manhattan Co_
2,050,0
4,222,0
Merchants’ ____
2,000,0
1,770,6
Mech. & Metals
6,000,0
7,796,6
A m e r ic a ______
5,931,1
1,500,0
P h e n lx ______
713,0
1,000,0
City ................. 25,000,0 30,897,3
Chemical______
6,295,2
3,000,0
Merchants’ Ex
600,0
566,0
Gallatin_______
2,507,0
1,000,0
Butch. & D rov.
300,0
157,7
G reen w ich ____
500,0
813,4
5,366,2
Amer. E x c h ..
5,000,0
Commerce_____ 25,000,0 16,381.0
2,627,2
Mercantile __
3,000,0
905,5
Pacific .............
500,0
1,050,7
C h a th a m _____
450,0
200,0
People’s ...........
468.7
H anover______
3,000,0 11,581,1
1,600,9
Citizens’ Central
2,550,0
502,9
N assa u .............
500,0
1,692,5
Market & Fult’n
1,000,0
Metropolitan . .
1,444,6
2,000,0
Corn Exchange.
5,395,3
3,000,0
Im p. & Traders’
7,539,5
1,500,0
Park ..................
3,000,0 10,290,4
108,4
East R iv e r ____
250,0
5,614,5
Fourth ______
5,000,0
1,000.0
S e c o n d _______
1,998,6
10,000,0 20,302,4
1,019,1
Irving E x c h .. .
2,000,0
823,1
Bowery ...........
250,0
500,0
N. Y. C o u n ty ..
1,643,7
German-Amer .
750,0
073,9
7,006,8
5.000,0
Chase......... ........
Fifth A v enue..
100,0
2,207,4
German E x c h ..
200,0
911,9
G erm an ia_____
200,0
1,021,8
L in coln _______
1,000,0
1,472,6
G arfield_______
1,000,0
1,178,2
F i f t h .................
250,0
489,9
M etro p o lis-----1,000,0
2,067,0
West Side------200,0
1,057,4
S eaboard-.........
1,000,0
1,900,2
1,000,0
Liberty ----------2,705,9
N. Y. Prod. Ex.
1,000,0
762,2
1,000,0
830,5
S t a t e .................
14th Street-----1,000,0
325,2
Coal & Iron-----1,000,0
349,6

Legals. Deposits.
Specie.
Average. Average. Average.

Res’ve.

S
857,0
1,782,0
1,522,0
1,215,1
1,924,8
364,0
5,460,0
2,036,6
174,2
450,8
82,7
194,6
1,039,3
6,553,6
1,075,0
513,4
1,011,7
133,1
6,955,3
329,7
1,257,6
1,123,6
249,9
5,297,0
2,364,0
1,483,0
104,5
2,166,0
228,0
2,538,2
1,095,0
49,0
632,5
210,4
4,420,0
1,134,4
510,7
503,2
1,153,5
176,0
268,2
2,419,1
219,0
1,399,0
1.193,0
290,5
307,0
585,8
724,0

%
25.1
27.5
25.7
26.6
27.9
33.1
30.3
26.2
25.5
26.1
21.9
24.6
24.0
25.6
25.6
25.7
25.4
26.9
27.1
20.2
22.5
26.4
26.5
25.3
20.3
27.0
25.7
26.2
25.3
24.7
25.7
25.0
24.5
26.0
23.0
25.6
24.2
24.5
31.8
25.9
25.4
27.4
24.3
26.0
30.8
25.5
25.3
25.3
26.2

S
S
18,560,0
3.0S9.0
30,250,0
7,895,0
19,153,0
3,455,0
52,313,0 12,517,5
4,775,4
23,704,5
7,893,0
2,165,0
170,446,5 45,273,2
4,624,1
27,739,0
1,651,4
6,967,1
8,170,7
1,189,5
454,9
2,383,2
1.876,4
7,501,8
4,784,3
31,449,4
143,500,7 24,107,6
1,556,3
14,183,2
445,4
4,032,9
969,7
7,450,3
475,1
1,747,2
60,943,9 11,500.1
21,921,9
5,228,5
497,8
7,124,4
1,076,5
8,598,0
2,777.7
11-,094,5
7,405,0
42,587,0
3,808.0
25,691.0
77,846,0 22,027.0
1,508,4
340,8
3,434,0
23,978,0
3,094,0
12,861,0
101,841,2 19,622,0
4,988,9
22,053,9
892,0
3,550,0
1,265,2
7,903,2
781,2
3,980,8
70,873,0 12,796,7
2,380,3
12,532,8
4,025,1
465,0
880,2
4,943,3
14,405,0
4,167,0
8,152,2
1,931,0
3,524,2
712,3
11,181,0
690,4
4,507,0
1,011,0
18,028,0
3,914,0
19,115,2
5,442,5
2,068,7
7,717,7
14,714,0
4,293,0
5,238,2
1,053,7
5,648,0
760,0

S
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
13,070,0
89,582,9
23,677,6
3,769,0
7,883,8
3,800,9
74,536,1
13,721,3
4,020,8
5,044,8
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

Totals, average 130,350,0 185,325,0 1215,537,0 252,609,3 68,377,6 1208,273,8 26.0
Actual figures

1220,662,8 242,536,4 66,346,8 1200,735,6 25.7

July 2 . .

On the basis of averages, circulation amounted to $48,417,100 and United States
deposits (included In deposits) to $2,017,300; actual Ilgures July 2, circulation, $48.­
470,000; United States deposits, $2,098,700.

The State Banking Department also now furnishes weekly
returns of the State 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
made up, see “ Chronicle,” V. 86, p. 316.
STATE BAN KS AND TR U S T COM PANIES.

Week ended July 2.

Capital as of March 2 5 . ..
Surplus as of March 2 5 . . .
Loans and Investments..
Change from last week.

Trust Cos.
Stale Banks
Trust Cos.
State Banks
outside o f
outside o f
in
in
Greater N . Y . Greater N . Y . Greater N . Y. Greater N . Y .
S
9,033,000

S
8,375,000

$
26,225,000

S
64,025,000

38,980,900

174,728,300

10,866,851

13,077,768

292,420,200 1,083,251,200
+ 2,996,300
+ 324,500

91,014,400
— 126,200

137,861,300
+ 501,200

Specie ________ _________
Change from last week.

47,158,400
+ 418,200

123,839,900
+ 826,200

Legal-tenders & bk. notes
Change from last week.

26,084,200
— 849,200

13,295,600
+ 64,100

............

....................

337,356,200 1.177,861,000
+ 412,000 + 20,823,100

94,457,400
— 268,900

142,880,400
+ 492,300

Change from last week.
Reserve on d ep osit.. . . .
Change from last week.

93,896,300
+ 78,000

143,098,400
+ 1,367,000

19,055,600
—209,600

18,167,300
+ 155,400

P. C. reserve to deposits..
Percentage last w e e k ..

28.3%
28.4%

15.8%
15.6%

19.7%
19.9%

13.3%
13.2%

+ Increase over last week.

Decrease from last week.

Note.— “ Surplus” Includes all undivided profits. “ Reserve on deposits” In­
cludes, for both trust companies and State banks, not only cash Items, but amounts
due from r e scu e agents. Trust companies In New York State are required by
law to keep .■t/neerve proportionate to their deposits, the atlo varying according to
location as sfckvn below. The percentage of reserve required Is computed on
the aggregate of deposits, exclusive of moneys held In trust and not payable within
thirty days, and also exclusive o f 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 com puted on the whole amount
of deposits, exclusive of deposits secured by bond3 of the State o f New York.
— Trust Cos.—
— Stale Banks—
Total
Of
Total
Of
Reserve Required for Trust Companies
Reserve
which Reserve
which
and Stale Banks.
Required in Cash.Required, in Cash.
Location—
15%
15%
25%
15%
Manhattan B o r o u g h ................................................. 15%
%
10%
20%
Brooklyn Borough(wtthout branches In Manhat.) .15%
15%
15%
10%
Other Boroughs (without branches In Manhattan). 15%
15%
25%
15%
15%
Any Borough with branches In M anhattan............ 15%
15%
6%
10%
5%
Elsewhere in State.....................................- ................ 10%

10
7H%

The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York n o t i n th e C le a r in g
H ou se.
These figures are shown in the table below, as are
also the results (both actual and average) for the Clearing­
House 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.
N EW Y O R K C IT Y BA N KS AND TR U S T COMPANIES.
Clear.-House
Banks.
AclualFigures

Week ended July 2.

11

THE CHRONICLE

J u l y 9 1910.

Total o f ail
Clear.-House State Banks A
1'rust Cos. not Banks& Trust
Banks.
in C.-H . Aver. Cos. Average.
Average.

3
S
130,350,000
130,350.000
Capital fNat. banksl
| March 29 I
185,325,600
185,325.600
Surplus (State Bunks)
1 March 2 5 . .1
Loans and Investments 1,220,662,800 1,215,537,000
+ 9,813,800 + 15,755,000
Change from last week

3
74,900,000

S
205.250,000

183,344,700

368,670,300

1,175,239,100 2,390,776,100
+ 2,125,000 + 17,8SO,000

D e p o s its ------------------ - 1,200,735,600 1,208,273,800 a 1,159,974,600 2,368,218,400
+ 5,474,200 + 12,671,700
+ 7,197,500
Change from last week — 9,995,800
242.530,400
Change from last week — 15,756,500

252,609,300
— 6,716,900

130,370,300
+ 837,500

382,979,600
— 5,879,400

66,346,800
— 3,189,000

68,377,600
— 1,439,900

621,711,300
— 149,100

90,091,900
— 1,589,000

Aggr'te money holdings 308,883,200
Change from last week — 18,945,500

320,986,900
— 8,156,800

c l5 2 ,0.84,600
+ 688,400

473,071,500
—7,168,400

23,118,300
+ 837,800

23,118,300
+ 887,800

320,980,900
— 8,156,800

175,202,900
+ 1,576,200

496,189,800
— 6,580,600

25.76%
27.11%

26.60%
27.44%

17.2%
17.1%

............

8,699,300

18,918,450

L egal-tenders...............
Change from last week

Money on deposit with
other bks. & trust cos.
Change from last week
308,883,200
Change from last week — 18,945,500
Percentage to deposits
requiring reserve.. .
Percentage last w eek ..

n .

+ increase over last week. — Decrease from last week.
a 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 S I,290,472,000, an Increase of 320,232.500 over last week,
In the case of the Clearing-House banks, the deposits are "n e t” both for the average
and the actual figures. ft Includes bank notes, c Of this amount State banks held
314,049,100 and trust companies $137,135,500.

We omit two ciphers (00) inall these figures.
Capital
and
Surplus

Banks.
Boston.
June 1 1 ..
June 1 8 ..
June 2 5 ..
July 2 . .
Phlla.
June 1 1 ..
June 1 8 ..
June 2 5 ..
July 2. _

Loans.

3
40,300,0
40,300,0
40,300,0
40,300,0

3
201,533,0
200,225,0
202,000,0
201,139,0

56,315,0
50,315,0
56,315,0
56,315,0

258,431,0
255,911,0
255,414,0
256,657,0

Specie.

Lcgals.

S
20,929,0
21,997,0
21,735,0
21,802,0

3
5,564,0
5,232,0
5,201,0
4,911.0

Deposits a Circu­
lation.

67,4 7,0
68,073,0
67,958,0
66,678,0

Clearings.

3
239,562,0
240,237,0
237,731,0
246,876,0

S
7,540,0
7,537,0
7,518,0
7,520,0

S
149,902,5
141,888,7
138.00S.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 $3,054,000 on
June 25.

Imports and Exports for the Week.—The following are
the imports at New York for the week ending July 2; also
totals since the beginning of the first week in January: '
FO RE IG N IM PO RTS AT N EW Y O R K .
For week.

1910.

1909.

Dry G oods......... .......................
General Merchandise_______

32,437,795
10,832,307

$3,000,718
13,135,714

T o t a l .....................................
Since Jan. 1.
Dry G o o d s ...............................
General Merchandise.............

S13.270.102
379,683,795
397,437,379

1908.

[

1907.

$1,794,718!
7,511,657

S2.965.678
13,593,839

$16,136,432

S9,306,375

S16.559.517

$85,904,995
350,069,015

$58,610,146
248,833,788

,

S94.045.240
364,724,931

Total 26 weeks........... ........ S477.126.174 $435,974,010 $307,443,934 S458,770,171

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: .
E X P O R T S FROM N EW Y O R K FO R T H E W E E K
1909.

1910.
For the week____
Previously reported

315,117.867
311,203,560

1908.

1907.

SI 1,747,200! $8,829,882
304,139,143j 330,027,282

$7,963,314
309,047,071

Total 26 weeks___________ $326,321,427 $315,886,343 $238,857,164 $317,010,385

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
1908:
The averages of the New York Clearing-House banks 1909 and
E X P O R T S AND IM PO RTS OF SPECIE AT N EW Y O R K .
c o m b i n e d with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
Exports.
Imports.
(lold.
as follows for a series of weeks past:
Week.
Since Jan. 1.
Week.
StnceJan.l.
COMBINED RESULTS OF BA N KS AND TR U S T COM PANIES IN
G R E A T E R NEW Y O R K .
We omit two clphers in all these figures.

S

S
$32,150,000

$

8,801,666
41,900

11.760
3,998
31,637
67,347

S
$8,528
3,384,950
283
318,359
108,489
1,335,233
724,410

Total 1910______________________
Total 1909.........................................
Total 1908__________________ .
Silver.
Great Britain....... ................................
France ___________________________
Germany .............................................
West Indies________________ _______
Mexico _____ ___ __________________
South Am erica........... .........................
All other countries......... ............ ........

$400 $44,268,263
2,992,000 60,444,802
305,343 46,073,744

S118.550
118,723
130,611

S5.880.252
5,601,819
11,381,301

S779.210 S19,931,948
53,400
1,182,600
423,645
800
56,308

$12

“ 2 Y. 255
4,350

" ’ ’ 7~3o6
75,029
3,724
52,431

S13.344
1,008
7,775
49,193
683,536
589,688
734,409

Total 1910....... ..................................
Total 1909.........................................
Total 1908_____ ___________ _____

$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

$3,808
Week
Ended.
April
May
May
May
May
June
Juno
Juno
June
July

3 0 ..
7
14. .
2 1 ..
2 8 ..
4 ..
1 1 ..
18..
2 5 ..
2 ..

Loans and
Investments.

Deposits.
3
2.347.272.9
2.315.746.9
2.303.523.4
2,310 714,3
2.323.016.9
2.829.930.0
2.329.091.5
2.338.192.9
2,355,570,7
2.308.248.1

3
2.407.365.4
2.376.270.9
2.359.492.5
2.360.057.4
2.365.681.4
2.371.700.9
2.358,172,2
2,361,489,8
2.372.896.1
2.390.770.1

Specie.
S
304.670.3
300.020.4
368.555.7
375.170.7
380,847,3
378.288.5
379,990,2
383,945,9
38.8.859.0
382.979.0

Tot. Money Entire Res.
Holdings. on Deposit.

Legads.

S
454.975.1
453,469,5
450.790.3
465.105.1
471.926.4
408.192.9
470.792.5
475.209.4
480.539.9
473.071.5

3
90.304.8
87,449,1
88.234.0
89.934.4
91.079.1
89.901.4
90,802,3
91.322.5
91.080.9
90.091.9

$
475.197.1
476,169,5.
478.670.3
•180.070.0
493.964.4
491.135.1
493.105.7
497.970.7
502.770.1
490.189.8

Reports of Clearing Non-Member Banks.—The following is
the statement of condition of the clearing non-member
banks for the week ending July 2, based on average
daily results:
We omU two ciphers (00) in all these figures.

Banks.

Capi­
tal

Sur­
plus.

N. Y. City
Boroughs of

23d W ard..
U n.K x.Nat.
York vllle
New NcthM
BaW.Pk.Nat
Aetna Nat
Borough o f
Brooklyn.
Mfrs.’ N at.
Nat. C ity ..
First N a t..
Jersey City.

Loans,
D isc’ts
and
Invest
ments.

Legal
Tender
Specie.
and
Bank
Holes.

s

•

____

Deposit with
Clear­
ing
Agent.

Net
Other Deposits.
Banks,
A c.

$
3
141,4
1,323,3
50,0
30,8
1.129,9
223,0
770,4
5,054,0
475,2
602,0
0,309,0
559,0
90,3
1,011,8
68,6
22,1
3,339,5
517,0
501,3
2,702,4
31,7
40,5
3,838,2
650,3
320,0
3,830,0
451,0
151,1
1,899,4
53,4
8,809,3 1,218,0 1,000,0
47,0
4,209,9
724,0
236,0
75,0
2,353,0
204,5
1,271,0
41,4
503,0
1,909,9
24,8

3
229,0
114,7
m i,5
644,0
150,0
2 9 1,2
417,1
338,1
998,0
317,6
344,7
291,3
249,0
. 56,3
100,3

26,3
363,7
572,0
210,7
328,3 1,313,7
038,0
319,0
97,0
488,0
129,0
97,8
315,0
76,0

244,4
021,6
1,444,2
1,313,0
677,0
329,3
381,0

200,1 3,450,0
109,0 6,390,0
236,0 14,847,0
7,298,0
103,0 4,002,0
108,3 2,264,3
38,0 3,119.0

3
100,0
200,0
400,0
300,0
200,0
500,0
250,0
200,0
100,0
200,0
1,000,0
100,0
200,0
200,0
300,0

3
259,6
154,3
33 1,3
447,5
168,0
510,2
307,7
353,4
433,2
109,0
936,4
445,7
257,5
149,8
319,1

200,0
252,0
1,000,0
750.0
300,0
200,0
300,0

542,4 3,198,3
807,3 0,025,6
887,9 11,012,8
985,0 7,033,0
604,0 3,832,0
140,0 1,800,7
591,3 3,443.0

S
10,7
127,7
158,0

.....

206,1
85,7
5,3

257,0
5,0
25,5

S
1,409,3
1,740,4
7,081,0
0,987,0
1,012,4
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

Ilud.C o.Nat
Third Nat .

400,0
250,0
200,0

1,249,2
740,3
389,7

5,097,8
3,084,1
1,989,6

289,4
139,0
54,8

482,0
44,9
114,2

2,800,5
355,5
606,2

189,0
100,4
18,5

7,390,8
2,721,3
2,346,6

Second Nat.

220,0
125,0

630,5
243,9

2,988,6
2,714,9

140,2
94,5

27,9
84,6

146,4
61,8

72,7
175,8

2,657,6
2,825,2

Tot. July 2 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 7,093,2 8,481,2 12,578,1 2,293,1 115777,2
Tot.June 18 8,447,0 12,997,8 103701,4 7,790,4 8,470,5 15,141,2 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.



West In d ie s.............. - .............. ..........

S400

' “ 90
400

4,455
3,270,242

Of the above imports for the week in 1910, 811,315 were
American gold coin and S5,685 American silver coin. Of
the exports during the same time, 8400 were Ameri­
can gold coin and 8890 were American silver coin.

fflanluni) and Financial.

INVESTMENT SECURITIES
O ur e ig h t-p a g e circu lar N o .687 describ es several Issues o f sou n d
In vestm en t b o n d s yie ld in g a b o u t 4 H to 5 ) 4 % .

Spencer T rask & Co*
43 E X C H A N G E PLAC E. - - - N E W Y O R K
Branch offices: Chicago, III., Boston, M a ss., Albany, N. Y.

WHITE,

W E L D & CO.

Members New York Stock Exchange
5 N ASSAU S T R E E T ,
THE RO O K ERY.
NEW YORK
.
C H IC A G O
B A N K I N G an d E X C H A N G E o f e v e r y d e s crip tio n In c o n n e c tio n w ith

EXPORTS & IMPORTS

International Banking Corporation
60 W all S t., New York.
C A P IT A L & S U R P L U S . 56.500,000
B R A N C H E S and A G E N C IE S th r o u g h o u t th e W O R L D .

THE INTERNATIONAL BANK
Organized under the Laws o f N. Y . State.
60 Wall S t., New York.
A c c o u n ts In vited . In terest p aid o n T erm D eposits.
TH O M AS H . H U B B A R D . President.

THE CHRONICLE

78

ilumuers' tbaaette,
W a l l S tr e e t. F r i d a y N i g h t , J u l y 8 1910.
The Money Market and Financial Situation.—The down­
ward movement of security values which had been in pro­
gress 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.
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
Department to-day made the condition figures quite low—
73 for Minnesota, 45 for North Dakota and 64 for South
Dakota. This in itself is not a very serious matter except in
the territory mentioned. Moreover, as from four to eight
weeks must elapse before the spring-wheat harvest begins,
the final results are likely to be quite different from present
estimates. Furthermore, the outlook for corn, the largest of
our grain crops,continues in the highest degree encouraging.
In the meantime, in mercantile and manufacturing circles
generally, conditions remain very quiet, and here, especially,
it is hoped that good crops will improve the situation.
The Bank of England’s weekly report shows a larger per­
centage of reserve than last week, and at this centre the half­
yearly settlements have been made without any perceptible
effect in the money market. For time loans, however, rates
show a hardening tendency.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2 to 3*4%. To-day’s rates on call were 2@3%.
Commercial paper quoted at 5@5j^% for 60 to 90-day en­
dorsements, 5@5^% for prime 4 to 0 months’ single names
and 5M@6% for good single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £912,100 and the percentage
of reserve to liabilities was 46.40, against 42.77 last week.
The rate of discount remains unchanged at 3%, as fixed
June 9. The Bank of France shows a decrease of 7,125,000
francs gold and 800,000 francs silver.
N EW Y O R K C IT Y CLEA RIN G -H O U SE HANKS.

Loans and discounts__
Net deposits-- ----------U. S. dep. (lncl. above)
Specie ............................
Legal tenders..................

1910.
Averages for
week ending
July 2.

Differences
from
previous toeek.

$

•S

130,350,000
185,325,(300
1,215.537,000
48,417,100
1,208,273,800
2,017,300
252,009,300
68,377,600

25% o l deposits.............

Inc. 15,755,000
Inc.
71,900
Inc. 7,197,500
259,000
Inc.
Dec. 6,716,900
Dec. 1,439,900

320,986,900 Dec.
302,068,450 Inc.

8,156,800
1,799,375

1909.
/I verages for
teeek ending
July 3.

1908.
Averages for
week ending
July 3.

s

S
126,350,000
126,350 000
174,450,100
1,310,200,300 1,241,096,500
49,033,200
56.459,900
1,419,315,700 1,320,470,800
2,259,900
17,985.500
310,268,100 306,623,600
79,056,900
78,189,400
389,325,000
354,828,925

384,813,000
330,117,700

Surplus reserve.........

18,918,450 Dec.

9,956,175

34,496,075

54,695,300

Surplus, excl. U. S. dep

19,422,775 Dec.

9,891,425

35,061,050

59,191,675

N ote.—The Clearing House now Issues a statement weekly showing the actual
condition of the banks on Saturday morlnng 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.

Foreign Exchange.—The chief incident of the week was
the engagement of 81,750,000 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 84)^ for sixty-day and 4 86^ for sight. To-day’s
actual rates for sterling exchange were 4 8360@ 4 8370 for
sixty days, 4 S5%@4 8585 for cheques and 4 8605@4 8610
for cables. Commercial on banks 4 8330@4 8340 and docu­
ments for payment 4 83@4 83)<(. Cotton for payment
4 82%@4 83 and grain for payment 4 83%@4 83%.
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 20 less 1-16@5 20 for long and 5 18% less 1-16@
5 18% less 1-32 for short. Germany bankers’ marks were
94%@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. 21 %c. high and 25fr. 17%c. low.
Exchange at Berlin on London, 20m. 45%pf.; week’s
range, 20m. 45%pf. high and 20m. 42%pf. low.
The range of foreign exchange for the week follows:

[ VO L . L X X X X I .

San Francisco, 20c. per 81,000 premium. St. Paul, 50c. per
81 000 premium. St. Louis, 10c. per 81,000 premium.
Savannah, buying, 3-16 discount; selling, par. New Or­
leans, commercial, 25c. per 81,000 discount; bank, 81 per
81,000 premium. Charleston, buying, par; selling 1-10
premium. Montreal, 62%c. per 81,000 discount.
State and Railroad Bonds.—Sales of State bonds at the
Board 83,000 Tennessee settlement 3s at 95% 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
and, in most cases, unimportant. U. S. Steel 5s and Atchi­
son conv. 5s are exceptional in a net gain of a point. Ilock
Island 4s have declined 1% points and several convertible
issues are lower. There have been no new active features.
United States Bonds.—Sales of Government bonds at the
Board include 82,000 3s coup, at 101%, 8500 4s coup, at
114% and 81,000 4s reg. at 114%. The following are the
daily closing quotations; f o r y e a r l y r a n g e s e e t h ir d p a g e
fo llo w in g .

2s,
2s,
3s,
3s,
4.8,
4s,
2s,
2s,

1930 _______ - - registered
1930________ ------coupon
1908-18_____ . . registered
1908-18 ____ — coupon
1925 ........... .. - . registered
1925________ ------coupon
1936.Panama Canal regls
1938.Panama Canal regls

Interest
Periods

July
2

July
4

July
5

July
6

Q —Jan
Q —Jan
Q — I'eb
Q — Feb
Q — Feb
(1— Feb
Q — Feb
Q — Nov

h

II
O
L
I
I)
A
Y

*100%
*100%
q
*101%
114%
*114%
*100%
*100%

*100%
*100%
*101%
*101%
*114%
*114%
*100%
*100%

o
L
I
D
A
Y

*10 1

July
7

July
8

*100% *100%
*100% *100%
*101% *101%
*101% *101%
“ III 1< *114 %
*114% *114%
*100% *100%
*100% *100%

* This is the price bid at the morning board; no sale was made,

Railroad and Miscellaneous Stocks.—The stock market
was weak again on Tuesday, after the protracted holiday,
and so continued until after the opening on Wednesday,
when new low-record prices were established. These
prices and the news of the morning stimulated a demand for
stocks, which has been wholly lacking for some time past.
Later in the day it was reported that nearly 82,000,000 of
gold had been engaged in London for shipment to New
York and traders on the short side of the market began
to cover. As a result of the buying from both the sources
mentioned there was a substantial recovery in prices, although
the volume of business has been considerably reduced.
During the last hour to-day the market was weak
on the Government crop report, which was not as favorable
as had been expected. As a result of the week’s operations
23 of a list of 30 active issues are lower and 7 higher.
A few issues have been exceptional. Louisville & Nash­
ville and Reading declined 6 and 7 points, respectively, early
in the week to new low records. United States Steel de­
clined 5 points and recovered 2—the preferred shows a net
loss of 1 point. 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.
F o r d a i l y v o lu m e o f b u s i n e s s s e e p a g e 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

8.

American Teleg & Cable
Canadian l ’ac subscrip’n
receipts, 3d paid.........
Colorado Fuel A I, pref
General Chemical, p r e f..
Homestake Mining.........
Lackawanna Steel...........
Manhattan Reach...........
I’ ere Marquette, 2d prcl
St Jos & Grand Isla n d..
F'Irst preferred...........
Second preferred____
Sears, Roebuck A Co . .
South PortoIUco Sug, pf

Sales
for
Week.

Range since Jan 1.

Range for Week.
Lowest.

Lowest.

Highest.

100 71% July

8 71% July 8

600 182
100 110
320 101%
110 86%
200 40
400 3
100 36
511 18
500 50
205 38
100 158
20114

5
7
6
8
8
6
6
8
8
8
8
5

July
July
July
July
July
July
July
July
July
July
July
July

182%
110
101%
86J
41
3
36
18
50
38
158
114

July
July
July
July
July
•inly
July
July
July
July
July
July

7
7
6
8
8
6
6
8
8
8
8
5

Highest.

71% July 77
174
110
101%
81
40
3
36
18
50
38
150
110

Feb
Feb
Juno
Jan
June
Jan
July
June
Feb
Feb
June
Apr

193
116
107
89
45
3%
40
20
55
40
166%
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
firmer tone prevailed. Butte Coalition from 17, ex-dividend,
dropped to 16%, recovered to 17 and reacted finally to 16%.
Chino Copper fell from 10% to 10 and rose to 10%. Giroux
weakened from 6% to 0% and improved to 6%. GreeneCananea fluctuated between 6% and 7% and closed to-day
at 7. Miami Copper was off at first from 18% to 18, but ran
up subsequently to 19%, the final figure to-day being 19.
United Copper common sank from 4% to 4%, moved up to
4% and ends the week at 4%. El Ilayo cased off from 4 to
3%. Goldfield Consolidated declined from 8 7-16 to 8%,
then jumped to 9%, the final figure to-day being 9. Kerr
Sterling Actual—
Sixty Days.
Cheques.
Cables.
High for the week___________ 4 81 %
4 8590
4 8015
Lake weakened from 8 to 7 15-16 and advanced to 8%.
Low for the week____________ 4 83 %
4 8545
4 85%
La Rose Consolidated went up from 4 to 4%. Nipissing ad­
Paris Bankers’ Francs—
High for the week......... ..........
5 19%
5 18%
5
17% less3-32vanced from 10% to 11, but moved back finally to 10%.
Low for the week...................... 5 20 less 1-10
5 18% less 1-10 5 18%
Among the miscellaneous securities Standard Oil was promi­
Germany Bankers' Marks —
nent, advancing from 607 to 615 and dropping to 610.
High for the w e e k .. . ..............
94%
95%
95 3-10
Low for the week............. ........
94 9-10
95 less 1-32
95 1-10
To-day it sold as high as 614%, but reacted to 611. Inter­
Amsterdam Bankers’ Guilders—
continental Rubber gained 2% points to 22% and was traded
High for the week..................
40 1-10
40 28
40 32
L o w for the week______ _____
39 99
40 18
40 22
in to-day from 21% to 21%. In the bond department
The following are the rates for domestic exchange at the Western Pacific 5s sold up from 89% to 91% and Southern
undermentioned cities at the close of the week: Boston, 10c. Pacific 4s, “ w. i.,” from 91% to 92.
per §1,000 premium. Chicago, 5c. per 81,000 discount.
Outside quotations will be found on page 88.



New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
O C O D I’ V l M i

11

STUCK*— H1QHK8T AN D LOWt!ST SALK CRICKS
Saturday
July 2.

Wednesday
July 6 .

Tuesday
July 5.

Monday
July 4.

Thursday
July 7

TW O

1

Frida
July 8 .

I'A IJ E S
Range Since January 1.
On basts ol lODshars lots

STO C K S
N E W Y O R K ST O C K
EXCHANGE

^aies
ihe
Week
Shares.

Range tor Kreitous
year (1909)

il tgiiesL

R a ilroads
25 M ch
20 M ch
36 M ch :
25 F e b 25
nn A r b o r _____________
*28
36
*28
36
*28
36
20
*23
72*2 M ch 8
481’ F e b 23
Do p r o !_____________
800
70
70
*65
72
*85
72
72
♦05
12038
O ft
124%
Jan
3
'.*,'*8
Jan
91*4
J
’
n
e
a
o
Atch
T
o
p
e
k
a
&
Santa
Fe
117,550
9434 9638
9618 98*4
921S 05'4
93*8
10034 J ’ne
100*4 Jan
Do p r e l______________ ,
z97 J ’ ly 1 104U Jan lo
1,120
10 0
IOOI4
0911 O'JU 98*4 99*8 *9812 09
143l2 A u g
107*2 Jan
A tlan tic C oast Line R R ._ 104 J 'l y 6 1371’ Jan 5
0,125
108
10734
108
108
104
108
10734 H I
103*’ F e b
H 9i 8 Jan 8
12214 J ’ly
10434 J'no3i)
108*4 10734 103*2 107l2 10678 1075g 107 IO8 I4 15,350 O a lt lm o r o & O h io ..........i
9 1 ' N ov
94 Jan 7
96 A p r
89 J ’ly 8
100 * * D o p r e l_____________
89
89
*8 8
89
*87
89
*87
89
67 Jan
s ‘2% j ’ne
82*s M ay 1
68l2 F e b 7
26,075 B rook lyn R a p id T r a n sit.
7478 70
7378 75i8
72*4 74*2
72U 74*s
1893s
G et
zl65
M
ch
19S*4
May25
/
lanadtan
P
a
cific________
1
7
6
*4
F
e
b
8
8,025
186 I 8 8 I4 1S5'4 1877s I 8 7 I4 1877s 18818 189*8
70 1 ., N o v
60*4 Jan
70 Jan 4
65 A p r 25
V vanada S o u th e rn _______
7214
71 ■>—
7214 *60U 7214 * 0 0
312 Jan 7 215 F eb
.4231* Sep
Central
o
1
N
ew
J
ersey___
260
J
'n
e
3
*285
285
285
*265
290
*265
285
*265*
91*i D ec
92 Jan 3
555 g Jan
70>2 J ’ n e 30
35,000 Chesapeake & O h io _____
7218 76
7234 7418
70*4 7312
721’ 7514
7 434 Apr
577* F eb
6684 Jan 3
2434 J ’ ly 7
450 Chicago & A lto n R R ____
26
2434 2434
‘ •* *24
27
27
52414 2“ H■4
70
N ov
781’ M ch
09
A
p
r
1
D
o
p
r
e
l________________
6478
J
’n
e
27
____
09
*
69
69
70
373* D ec
3078
Jan
3
31*2
D
ec
Ohio
G
t
W
e
s;
trust
c
tfs_
_
23
J
’ne
30
1,100
24
24
2334 24*’
2358 2334
2318 231’
643; D ec
64i8 Jan 10
D o p re l trust e t t s ____
68*4 D ec
45
J ’ ne30
1,030
4578 4578
.
48
46
45
{46
46>4 47
i l l Feb
i85's Sep
6l!755'>Dhl« ‘ SO M llw & St P a u l.. 11334 J ’nejO 1583g Jan 3
115*8 118*2 115 11814 117I2 11934 11734 122
D o p r e l________________ 145 J ’ly 6 172U Jan 3
158*2 M ch H I A u g
1,800
146*4 146*4 140 147
14534 147
145 146
198*’ A u g
173*8 |',eb
3,975 Chicago & N orth W estern 13334 J ’n e 30 182i2 Jan 3
139:,8 141
139 140’ 4 140*4 14H’ 141S8 143
Do p r e l________________ 203 J ’ ne 27 225 Jan 0 208 M ch 230 A u g
*203 210 *20312 205 *203 210 *203 205
167 A u g
Ohio St P Minn & O m aha 140 A p r 28 162*2 F eb 20
148 Apr
*134 150 *135 150 *135 150 *135 150
D o p rel _ __________ § 1 6 0 A p r 25 { 17 0 14 F eb 18 166*2 J an
180 J iy
*150 170 *150 175 *150 165 ►150 165
31 . D ec
7
Jan
533 Jan 4
Chlo Un T ra c etts stm pd
212 M ay 2 4
*2 12
4
31’
*2 12
31j ■*21’
734 D ec
I 8 I4 Jan
1214 Jan 4
6 I4 May24
Do pret ctls s tm p d ____
*5
9
*5U
*5
91’
*512 9
9
7484 J ’ly 6
Cleve Cln Chlo & St L . . .
83*4 D eo
6 8 Jan
92 14 M ch 18
*72
741
7434
7434
____
75
*
751’
75
D o p re l
100 J ’ne 4 104 Jan 15 10 0 Jan
105
Men
►_____ 110
* _____ 110
* ____ 105 * ______110
54 J 'n e 30
6534 F e b 26
68*4 JaJ1
700 lo lo ra d o & S o u th ern ____
51 V ot
5478 55
56
54
6412 *54
54
55
D o l r t prclerred
86
M ay
75 A p r 30
76*’ Jan
83 M en 4
150
*74
75
*74
75
75
75
78
*75
81 Jan 6
Do 2d prelerred
74 J ’ ne 29
7314 Jan
84i2 Jan
*71
75
*73
75
*73
75
75
*72
185 Jan 3 16734 F eb
200 M ay
15912 15912 1,200 I Delaware & H u d so n ___ 155 J 'l y
157 157
155 157
157 159
M ch 21 535 F e b
680 A p r
200 l r e 'a w a r e Lack & W e s t. z522i2 J ’ly 6] G20
52212 52212 ►5221’ 585 ►522 585
Z525 525
62 Jan 8
37og Jan
271*8 J ’ne30
7,170 D cn ver & R io G ra n d e—
29~8 3058
2912 30*4
281’ 30>4
64
2912 3034
84 Jan 3
79*2 Jan
66 J ’ ne 30
90
F eb
Do pret___ . . . . _______
2,362
7018 7014
09
70
6812 70
O8 I2 7012
68 Jan
66 Jan 27
7 U4 A u g
D etroit U n ite d ___________
6912 A p r 28
183
4
Jan
2
1
Jan
“
3
10
j
’
ly
l
14*4
N
o
v
D
uluth
So
Shore
<
5
s
A
tlan
700
1078 10~8 *1034 12
1012 1 1
* 10 12 1 1
345g Jan
28 F eb
D o p r e t________________
22
J ’ ly 5
36*2 J ? n
475
23
22
*21
24
*22
22
22
23
341*8 Jan
22»8 M ch
r i e .......................................
39 J ne
23’s J no30
24
2518 2412 2 5 I4
24
25
24U 253S 6,900
36*2 M ch
5 2 34 M ch
56*4 A u g
D
o
1st
pret_________
39!2
J
’
ne30
1,000
41
42l8
411’
*38
41
41
41*8 4U
46 A u g
42 M ch
D o 2d p re t_________
28*2 Mch
30>2 J n o 29
100
32
32
34
3312 *30
*30
*31
3312
I577g
Aug
1437*
Jan
G
reat
N
orthern
pret______
13058
f
e
b
120i2
J
’
ne30
17,250
123 125U 123 12512 12478 12512 124 120*2
05*8 M ch
88*2 A u g
Iron O re p ro p e rtie s___
80i’ Jan
45 J ’ ly 52
52<4 17,410
601’
45
51
5214
49U 53>2
21
D ec
13*2 N o v
181g M ch 2 2
12*2 J ’ne
10 G reen B a y & W , d e b ettu
1234 1234
103 D eo
avan a E l e c t r i c . . _
88i2 Ja n 20
39 F eb
97*4 A p r 14
200
____ 97i2 *____ 9712 * ____ 9712
0512 051’ ►
Do p r e t ________
100 D ec
99 Jan 4
94i2 Jan 25
83*8 F e b
200
95
95 * ____ 9612
____ 97
07 ►
102 M ay 5 l ‘24l2 J ’ly 8
400 H ooking V a lle y .............
124l2 124l2
*117 18------ ►U7i8 ------ 120 124
Do pret
88
A pr
l0 1 "*8 J n o 14
86 F e b
94*2 J no
137 F e b
162*8 A u g
125'4 J ’n e 30 147 Jan
1,100 lllnols C en tra l___ __
12934 130
127 127U *12612 130
128 130
n s* M ch
257s DOC
n terbjoro-M etrop olltan .
25i2 Jan
16
J
’ne30
11,500
18
185g
1778
1734
1818
17
18
17
Do p re t.
C27g Jan 12
63r*8 D ee
3634 M ch
45'a F e b
15,150
51
50
4834 5012 47U 49I2 48*2 4934
2634 NOV
36 A p r
30 Jan "
15 J ’ne30
1678 10"8 1,100 Iow a Central
17
15
17
17
*10
18
Do p r e t . . _______ __
62 A p r
48 Sep
33
J ne30
64*4 Jan
200
3334 3378
3334 3334
*32
34
34
*32
7434 Feb
82 Sep
1 / C F t S & 51 tr cts, pret
80 F e b 18
69 J ’ne 30
75
*69
*69
75
*69
75
75
*69
50*4 A u g
44U Jan
37
2 6 U J ’ly
28l2‘ 5,300 IV a u sa s C ity S o u t h e r n ..
28
27
27*8
26>4 271’
2712 28's
677g Feb
75*2 A u g
D o p r e t_____________
z00 J ’nejO
71 Jan
400
62
62
*6U 2 62
62
63
*61
03
29*2 Aug
19*2 F eb
15 J ’n e s o
25*4 Jan
300 T ake lin e & W e -te r n ___
17
15
15
15
15
*15
*15
17
6234 Jan
Ju
D o pret
48 J an
45 J ’ne 29
647.8 J ne
45
45
*38
*35
*35
45
*35
45
Jan
7 U2 D ee
L
on
g
Isla
n
d
______________
70*4
A
p
r
14
60
J
’ly
59
66
06
65
*60
*00
*58
06
*60
15934 Jan
‘ rl21 j a n
162*2 A u g
9,600 L ou isville 4 N a s h v i ll e ... 138*4 J ’ly
140*4 H 4I4 13SL 14078 14012 14112 141 143
D
ec
153*2 Jan
137
830 V la n h a t ta n E le v a te d ___ 123 j ’ ne30 139 M ch
1251’ 128
124*2 128 *125 130
125 125
5384 Jan
65 Jan
51 Sep
25 J ’ly
720 D i-lu n eapolls & St Lou's
25
20
*20
30
27l2 2712
27
27
90
Jan
81 M ch
80 F e b 24
50
J ’ne 25
D o p r e t________________
10
{40
40
*30
55
*30
70
*40
70
145 M ch 3 132i2 Jan
149*2 Jan
123
J ’ly
123 12634 124*4 126
127 129
12614 12812 3,200 Minn St P & S S M arie—
1 (541 , A u *
15512
M
ch
2
144
J
’
ne
6
D
o
pret_
..
147
A
p
r
*140
150
*144 150
►145 150
►142
9234 Jan
861’ M ay 5
94 D ee
Do leased line etts------89 J iy
100
88
9
*87
90
♦87
83
♦87l2 90
35*2 F eb
2834 J ’ ly “
61*8 Jan
50*2 O ct
2834 32
3218 331g 14,200 Mo K ansas & Texas
32
31
3314
32*8
74
‘>8 Jan
71
F
eb
Do
p
re
t_________
64
J
’ly
78*4 O ct
500
647s
047S
64
64
*60
65
65
65
65 F eb
5434 J ’ly
731*8 M ay23
77*2 A u g
5712
5734 6038 9,610 Missouri P acific
54*4 56
59
56
j ^ a s h C hatt & St L o u is . 130 Jan 2 5 139 Jan 8
142 D ee
122*2 Jan
►128 133 *126 133 *126 133 *126 133
a
t
R
y
s
ot
M
ex
1st
pret
6734
M
ay
23
60
F
e
b
3
44*2
A
p
r
64 D ec
*68
69
*67
70
* 6 6 . 70
*6 6
70
243g Jan 15
21
D ec
2058 M ay
D o 2tl pret.................
29*8 M ay 6
26!2 2738 27
2678 271’ *2634 2712 2,960
27
14734 A u g
30.450 N Y Central & H u d s o n .. 1103$ J ’ no30 128 M ch 9 120*2 F eb
111
11234 11134 1131s 112U 114
111 1 ’ 114
48W
Mch
69 N o v
N
Y
C
h
ic
&
St
L
ou
is____
55*’
M
ay
4
67
May27
100
01
61
6034 6034
6034 61
0 1 1 2 6112
100 F eb
100 F e b
D o 1st pret
{10 1
J ’ly 8 10934 Jan 21
20
{101 101
‘ 10 0
110
*100 110 ►100 110
95 N o v
98 Jan 19
l D o 2d p re t_____ __ _
8234 A p r 28
76U A pr
*85
92
92
*85
89l2 *85
*85
92
5 5 0 1 N Y N H & H artford ____
149 A p r 28 162 M ch 14 1154 N o v 174*4 J ’ ne
14912 1491’ ►1451’ 150 *147<2 150
150 150
Subscription receipts A .. A143 J ’ne 10 *151 M ch 11 U 47i’ D ec '(149*4 D ee
144
____145
►
*____144
►141 144
555g J ’ne
50 Jan 5
4214 F eb
4034 J ’nejO
4338 2,020 N Y O ntario & W estern .
43
4H 2 42*s
4178 423.)
42
42%
102 D ec
8414 Jan
95 Jan 25 1081s M ch 21
98
2,100 N o rfo lk & W estern
98
90«4 9634
9734 9734
0812 9712
OH4 M ch 10
88 F e b 2
85ig Men
92*2 J iy
D o a d ju stm e n t pret—
93
*88
*8712 93
*8712 93
*8858 93
159*2 A ug
133*4 F eb
113 J ’ne30 14558 Jan 3
116 120
23,620 N orthern P a cific ,
115 119
115'8 I I 8 I4 117% 119
76 Mch 116*2 D ec
10 5
J ’n e 7 1183., Jan 12
p a c i f i c C oast Co
*99 108
*99 106 ► 100 106
*100 108
100 M ch §106 Sep
L
D o 1st p r e t.
*85 110
*85 110
*85 110
*85 110
88 M ch 115 D eo
Do 2d p r e l.
105 F eb 14 118 Jan 3
*102 108 ►100 108 ► 100 108 *100 108
151*4 Sep
12734 129l8 12612 12814 12733 1283S 128l8 1293s 59,841 P en n sylva n ia ____________ 126*2 J ’ne30 138*2 M^h 9 126*8 F e b
86*2 Jan
9978 D eo
P ltt-b Cln Chic & St L _ .
93 J 'n e 30 104 68M ch 22
95
95
94U 9 H4 *94
*9 4 14 96
96
104
Feb
Do
pHet_______
___
.
.
.
.
114
M
ch
10
116
M
ch
1
116*4 Sep
*105 116 ►105 118 ►105 11.6 ►105 116
173*8 Sep
1384 J 'ly 6 172*4 F e b 18 118 F eb
140 14534 13834 I 4 3 I4 14178 1441.1 14278 145i2 579,480 J ^ e a d fn g .
96 A u g
89 M ch
93i2 F e b 17
83% J ’ly 5
1st pret
8878 8878 {88
88
150
*85
88
*85
90
90 F'eb
92®4 J ’n e 30 110*2 Jan 3
117*2 D eo
2d p re t......................
94
*92
800
95
94
*92
96
94
93
‘
81 D eo
20% F'eb
28l.| J ’ly
57*4 Jan 3
2814 31
2912 31
3278 73,350 R o ck Island C o m p a n y —
31
29*8 3
675g F eb
94*4 D eo
D o pret________________
92*2 A p r 9
71*2 J ’ly
4,300
74
7534
77U
7514
7112 76
75
73
Jan
74
D eo
65*4
M
ch
t
L
&
San
Fr.
1st
p
r
e
t
..
60*’
J
’
ne
13
05
*55
67
*55
65
*62
68
*81
36 F eb
60 Jan
60*4 Sep
D o 2d pret.................
37 J ’ ne
4,425
4134 3912 4178 40l2 4U 2 41I2 43*2
40
341’ Jan
35*8 D eo
20l2 F eb
700 St Louis S o u th w e s te r n ..
2912 2912 2934 293j *29l2 30
2412 F eb
2934 2934
82 D ec
77*2 Jan
0934 F eb
47*2 Jan
D o p r e t________________
900
693.1 71
72 ~ 72
7012 70I2
73
71
139*8 Aug
109 J ’ne 30 zl38i4 j an
1145*8 F'eb
110 11234 109i2 11338 11178 11312 112U 115 163,110 S ou thern P a cific G o_____
3334
j
a
n
34 A u g
22
F
e
b
Southern
v
tr
cts
s
tm
p
d
.
2014
J
’
ne30
7,400
2134
22'-8
2134
2212
22
23
23
22
76*2 D eo
75 Jan
60 Jan
Do pret
do
3,250
53 J ’ ly
64
53
5378 55
5534
6 3 I4 531*
55
30 F'eb
36*4 Jan
40*2 A u g
3,200 rP e x a s & P a cific_________
27
26
J ’ly
20
27I8 27*8
2712 28
27l8 28
121,
D
ec
4212 Jan
JLhlrd
A
v
e
n
u
e
(N
Y
)
___
19*2
Jan
3,710
5*2
J
’ne
8
81’
8
*71
2
9*2
7 '2 7*2
7
M ay
15*s Jan
15*4 Jan 12
2,300 Toledo R a ilw a ys & Light
012
6*2 J ’ly
5l2
6
012
7's
6*4
7*2
6*4
547g O ct
43 F eb
Toledo St L & W e s t e r n ..
543g Jan 4
20*4 J ’ne 18
1,800
2278
23i.t
22
2314
227s
24
22*2
74*4
Jan
D
o
p
r
e
t________________
7214
Jan
64*4
F
eb
z47
J
’
n
0
3U
1,500
4978
49
4934
4!)12
48<4
4914
49U 49U
Ti
97 Jan
116*4 D ec
117*2 Jan
899 T w in C ity R a p id Transit
1 0 3 S4 J 'ly
107 107
10634 10714 106*4 10634 107 107
20434 j a n
219 A u g
172*2 F eb
15434 159
15434 J ’ly
157l2 15938 15814 102'8 149,400 I Talon P a cific_____
156*4 160
D o pret_____________
z94 M ch 118*2 A u g
89 J ’n e 10 10334 Jan
2,187 U
89
89
89*2 897s
90
90
89
89*4
30 F'eb
42*4 Jan
47 Sep
23*4 J ’ no30
600 U nit R y s I n v ’ t ot San Fr
25
25
2 0 I2 2612
261a
25*2 25I2 *24
7233 Jan
D
o
prot____
_______
.
.
.
77 Sep
47
J
’ne
30
50*4 Feb
1.700
53
53*2
54
541’
50
53
50
4912
2778 D eo
27*4 Jan
16 F eb
16 J ’ noJO
1678 1714 4,100
1638 17
I 6 I4 1718 1638 17
01 Jan
6 1*4 J ’ne
41 h e b
303J 22,100
32*8 J ’ly
32-i8 35>8 3412 36®8 34
3438 37
54*sMch
12
41
J
’n
e
30
\Vest
M
aryland
R
y
.
.
.
.
.
.
41*2
4212
*42>2
44
42
1.700
41
4212 4212
70*2 M a y l9
67U J ’ ne 18
Do pret_______________
*64
68
69'2 *65
68
*62 . 69*2 *62
12% Jan
10 Jan 3
6
J ly
3 A p r 28
378
358 *3i2 4
200 W heelin g & L ake E r i e ..
*312
3%
3*8
4*2
25% Jan
23 Jan
D o 1st p re t____________
15*4 J ’ly
8
J 'n e 30
81
200
*812 10
*8
10
8'S
15*8 Jan
6*2 J'*y
13*2 Jan
D o 2d p r e t_____________
4 J ’no30
*?<
*412
0
6
*412
6
*4
63% A p r
357g J
56*2Mch
W isconsin C en tral_______
45i2 F e b 4
48
48
4812 48l2 48
48
*47
50>s

A

or

*21’ 334

E

H

200

S

2212

W*bu<.B-pva:::::::::

f*

BAN KS
Banks
N ew York
A etn a . . . . .
A m erica 1|__
A m or E x c h .
A u d u b o n __
B a ttery P k .
B ow ery fl___
B ron x B orol]
B ron x N a t .
B rya n t Pk
B u tch & Dr
O entury H „
Chase . . . . .

Bid
175
595
235
100
120
375
800
19J
155
140
170
425

Banks
Chatham . .
Chelsea Exll
180
. . . . Chem ical . .
242*: Citizens’ Ctl
C ity ...............
105
Coal & Iron
130
. . . . Colonial U—
. . . . C olum bia 11C om m erce .
200
160 Corn E x fl—
East R iv e r .
145
Fidelity 1|—
175
Fifth A veil.
450

Ask

t lK t V t c r c k ^ S




Bid

325
200
430
155
370
150
350
3{0

1202

320
116
165
4100

AN D
A sk
335
445
160
380
165
T2QS
326
125
175
4500

TR U ST

C O M P A N IE S — B R O K E R S '

Banks
F i l t h ...........
First .............
14th StH—
F ou rth
_
G allatin . . .
G a r fi e ld ___
G orm -A m
Gerrm’ n fix ,.
G orinanla 11G o t h a m ___
Greanwloh
H a n o v e r .,
tm p & Trad

Bid
300
876
150
T184
320
290
140
485
650
150
256
t035
540

Ask
360
900
165

Banks
Irvin g N Ex
JeftorsonU—

L ib erty___

. . . . L in c o ln ____

Bid

A sk

205
175
625
400
320
250
256
155
160
175
390

210

M anhattan^
U ark’ ti&Ful
vtoch 4s M ot’s
M ercantile .
60*6* vleroh Exch
. . . . M erohanta'.
M etropolis 1j
284
. . . . M etropol ’ n1| 200
Mt MorrlsH. 250
560

345
300
130

price.

Q U O T A T IO N S .

185
425
335
255
260
160
170
179
400
260

* 2d paid.

Banks
M utual H— .
Nassau 1 j . . .
New N e th ’d
N ew Y ork O o
N ow Y o r k .
N’ ht <ScDay1l
19th W a r d .
N o r t h e r n __
PacIflcH____
P a r k _______
P e o p le ’s i|__
P h e n lx ____
PlazaH —

Bid

285
240

210
900
320

200
275
230
W26
270
190
625

AJ*
295
2*3*0"
3*3*5*'
225
300
105
240
335
280

200

B anks
P rod E x ch 11
R e s e r v e ___
S eab oard . .
S econ d . . . .
S h erm an ___
State H ____
12th W a r d .
23 d W a rd —
U nion E x c .
W ash H ’ ts
W est Side
YorkvU le U.

Bid

165
105
390
400
135
275
1*4*0*
160
275
650
600

rights. 6 N ew »to o k ,
y 3d p a id .

A sk
175
115
4*2*6*'
2*90 "
140

80

York Stock Record — Concluded— Page 2

Sm
0 TIXfKS-—H lOHlC ST

Salwclay
July 2.

M onday
July 4.

A N D LOWUST SALIC THIOLS

Tuesday
July 5.

Wednesday
July 6 .

*250

*250
8D
8D
*8 %
29-31 29-84 *27
57S3 60*4
57%
38
38
38
*91 1 0 2
*99
29-34 30
29*2
a
t
_
*90
94
733
8
75,s
67D 68 %
06
47
49
51%
1 1 0 % 110
110
581$
60
59

*250
*SD
9%
*2712
583, 60"
*38
40
*95 10 0
30
30*8
*82
94
8
8%
67»s 673.,
4S-% 49
*111
115
59
59*?
*10 2
107
*225 260
6
*5
*29
31
2 2 *' 23

Sales
Friday
July 8 .

0

lianqi Since January
On basil of too-snare ton

ST O C K S
N E W Y O R K ST O C K
EXCHANGE

Week
Shares

Tsa> a 909)

II tyhesi
inuustri.-.IC: Alisccllaneoti
dam s E xpress_______

A

*250
*81j>
30
583,
40
*993j
31
*90

h anot 10’ fr e t lout

2

§249 J ’ n e a >270 Jan £
1 90 Jan
91?
8
J 'n e l
15 Jan
10 0
12-3.1 Feb
U ls-C h a lm e ri________
643.1 Jan
30
293g J 'ly 5
200
38 F eb
D o p re i_______
61 172.125
9034
Jan
57% J 'l y 65 Feb
A
m
algam
ated
C
o
p
p
e
r”
413.
33 J ’neJO
49 Jan i
33% Jan
1 .2 0 0
A m er A gricultu ral Che'm 9 j % A p r
10 2
102
103 Jan li
95*2 Jan
27D J ’noiji,
29*2
31%
47*4 Jan 1
1.350 D o p re l_______________
20*4 Jan
A
m
erican
B
e
e
t
s
u
g
a
r
”
!
933|
933,
y jis j;t u -5
95% J ’n e l
82
Jan
d o pret____________
6% .Fne jo
8
73.1
)J% Jnn 3
7 1-> F eb
8 *.|
2,500
A
m
erican
C
an
________
”
'
68
671'
69
66 J 'ly 0
81*2 Jan t
3.800
/I D F eb
D
o
pret________
4934
49% 51% 1 0 .1 0 0
-17 J 'ly ti
72/sJ a n i
44*4 F eb
A m erican Car & F o u n d !!109 J no 20 120 Aloh !
*112
111)
1143,
400
107D Eeb
60
6 / F’e b 8
6034
59
6934 Afch .
3,260 D o p re l____________
■121 s J an
A
m
erican
C
o
tto
n
o
i
l
!
”
*10 2
l o i F e b 1 106 A p r 1
*10 2
107
10 2
10 2
105
98 J a i
10 0
D o pret_______________
*225 250
24) J'no^b o20 Jan •: >205 Eeb
*225 250 *225 250
*5
6
5 J ’ ne 29
5
400 A m erican E x p r e s s ..
5
5
5*8
0*4 Eeb
8*8 Jan 5
A
m
erican
H
ide
&
Leathe
30% 31
30D 303.
29 % A p r i s
29*2 30D
1,575
34 Fob
4Ns ban :
D o pret________________
23
23
22
23
10 E eb 0
*22
1 ,0 0 0
23
1878 Jan
29*4 Alch .
A
m
erican
Ice
S
ecuritles.
1
2
§
1
2
1
2
12*2
12 %
12
11
J ’ne 80
900
12D *23 (
12 F e b
1734 Jan 8
*25
30
*26
26-83 27
20
26
30
900 A m erican L in s e e d ___
25*2 J ’ ne 3..
29
Jan
46/3 Jan 8
D o pret___________
3SD 40
39% 40
39
3S3j 40
40%
38*2 J ’ne jp
4,750
49 Eeb
0 2 % Jan
A
m
erican
L
o
c
o
m
o
tiv
e
*104
107
*103
107
104%J ne s 115 Jan 7 109*4 Eeb
*103 106
D
o
pret___
*4%
6
*4%
5 % A la' 3
(J
*4
*4
0
8 F eb
5*2 J 'ly
erican M alt C o r p ___ 2 8 % J ’n co o
30*2 30*2 *29
31
29*4 30
500 Do A m
*30*2 33
38 " N o v
48 M eh 21
pret______________ !
*85
86
*85
86
85
54 J n e i u
*85
85
86
186
50 Jau
9 0 's J a n ..
67
6 8 'g
6 8 % 70
05-3., 68*2
653.1 J ’ly 0 1 0 1 Jan i
6 G*i 693j
40.200 A m er Sm elters Sec pret B
7734 F eb
10 1
10 1
10 1
10 1%
101
101
1.400 A m er S m e ltin g * Heiinln ■ i.,0% J ’ly 1 112"; Jan 3
101 Jan
1 0 0 's 1 0 1
Do pret____________
27/ A p r -i 2 5 A p r 27 225 Alch
*260 285 *250 289 *2 0 0 285 *2 0 0 285
erican S n u n _____ I
10 0
10 0
*98 10 2
95*2 Jail 13 lo t A lav.n
10 0
10 0
10 0
100
600 D oA m
95 Alch
pret_____
5134 5lt ^
53
49 1 ! J ’ ne 0
53
53
*51
50*2 51
720
34% Feb
66
-an 1
ilji,; J 'n e 0 1287s F eb 1^
2,900 A m er Steel Found (new !
1181,3 118t2 116*8 1173s 117's ID 'S 119 119
115-33 N ov
115 ' J ’ ne 0
115 115 *115 12 0 *115 12 0
*115 12 0
10 0 A m erican Sugar U eiinin118 N ovD o pret________________ z l 3 l J ne30 124 F eb 28
132% 133
131% 132% 131*2 132% 1313, 132
5,900
143% F eb 2*1 125 Fet,
U2
92
92
92
91 E e b a
91*4 *91
91
900 A m erican Teiepn * Tele!
90% Eeb
9J3.1 Alch 1
26
26
263, 27
28
25% 25*8 *24
26 " Eeb
600 A m erican T o b a c (new) .pi
39*2 M eh 18
25% J ’lY 5
92*2 92*' *92*4 93%
11334 Jau
91*2 OH'
91% 92
502 A m erican W o o le n _______
u i 's J ’ iy 5 104 Alch 7
D
o
pret____________
!
!
!
363.,
37%
371'
38
337-34 Ecu
36*2 37%
36*2 37*2
i 35->4 J ’ n e 8 u $54 Jan 3
4,300
24% 24%
23
*22
26
25
*22
23*'
21 J U08.
300 d A n acon d aC op p er Tar$
18 ’*4 M in
34 Jan 0
(A etlilehem S teel_____
54 *__ _
54
54 *
5-1
4/
F eb
53
F eb s
65 Jan 19
D o pret_________
_ 129 J 'iy u
129 131% *131% 132*' 132D 134%
130*2 132
l l s Jau
1,480
3
164*2
Jan
10
*9% 10
B rooklyn O nion G a s .”
*8
10
*8
11
» J n o 29
177c D ec
3
18%
Jan
*28% 29-% *28% 29%
B run sw ick T erm & H v Se*
*281, 29
*28*i 30
28 J 'n o s
237g Jan
33 Jan 4
3134 32*r
32% 33
32
32*2
30*2 31%
29% J 'n o 30
" 8~6 i 6 B u tterlck C o ________
25% Alch
4834 Jan 3
104 10-13.1 *104 1043., 1047g 1047s
104 105
9934 A p r
800 ( leutral L e a d e r ________ 1U3% J ’ne30 109% Alch 8
31% 32
D o p ret_________
”
30% 32
32
31*1 32
29 F e b
33
30 “ J ’n e ju
2,900
50 Jan 3
Ob
M
_
_
_
C
olorado
Fuel
*
i
r
o
n
'l
l
6
D
5
*5121% F e o
6%
5 J ’ly 0
400
4
921
'Jan
25c. 25c.
25c. 25c.
25c J ’n e .4
400 Col & H ock Coal & Iron "
21c A p r
36c.
Jan
8
1 3 2 ' 134b 35,100 C om stock T u n n e l.P ar x"
130*2 132*4 129% 131% 131*., 133
i29 J ’ ne u 160-18 Jan 3
11412 E eb
C
on
solidated
Gas
(N
Y)
13%
13*8
127S 13*8
13
13
13% 137s
l l i 2 J 'u e jJ
1612 Eeb
2,600
23%
Jan
0
P ro d u cts H e tin ln g .' x 72>8 J ’ n e 30
73->s 7-lb *73
75
73
74
*73
74D
800 Corn
73 14 Eeb
863s Jan 3
Do p re t.
*53
63 * *53
*53
63
*53
63
63
55
A p r .o
-45
J an
02%
E’e
b
25
Crex
C
a
rp
e
t___
2734
28
27% 28
*28
27*2 2 ‘8
28
27 E eb 3
32D Eeb
2,000
3034 Jau 10
*25
D istillers' S e c u r lt le i'c o r p
35
*25
35
*25
35
*25
35
30 J ne 3
5 5 “ Aleli
60 Meh 8
Federal Alining & S m elt1'
*55
69
*55
67
*55
69
*55
69
53
Apr 5
80 E eb
88 Jan 3
D o pret________________
140% 140b 141% 142
140 140*o 139 140
1,750
138*4 J '11830 100% ,Jan 0 450ifl E eb
Electricstk tr ctt« S83‘ S E eb
93
94
03% 94
9 ID
92*4 93 D
T%
J nt H arvester
4,135 General62 J an
1257- Jan K;
120L *
121 *__
120 120'f, * __
121
___
1
D
o
pret
stk
tr
c
tfs
119 J'ueJO 129 Jan 4
300
40914 Jan
4D
*4D
*43g
4*o
5*4
51.J
*4*.,
5%
■id J ’ n e 2 -j
100 In t Mer Alarlue stk tr ctis
7*2
Jan
f.3s J ’iy
6
17
16U 1634
D o pret_____________
16
16
16*2 16*o
17
14% J ’ne3i)
800
IS-’*. J ’ty
24-% Jan 5
*9*2 10b
*9% 10*2
10
*9
10
10
130 Internation al P a p e r !!
9 J ’ly 1
9 D Men
3
16
Jan
*48D
*48
50
*4-8
*48
Do pret_________
49
50
49%
47% J 'n e 3 J
473 ^ Men
01% Jan 3
433s 43% *43*2 44%
43*s 43-84 *42
44
42 Men
600 In tern at Steam P u m p !”
3 3 1 , Eeb
54->s Jan 7
*797s 82
*S0
Do pret_________
"~
81
*79
82
84
81
100
80
J ’no30
82 D Jail
9034
Jan
17
973.,
9()34
97
9734 8,500
96
97*2
96*1 98*4
cled e Gas (St L) c o m ”
90 J ’ty 6 116% Jan 10 404 J ’ne
*84
86
*84
84% 84%
84
84
86
84 J ’ noJO
300 M ackay Com panies
70
Jan
91ls Jan 6
75
*73
*73
D o pret______
*73
75
75
75
75
125
73
J 'u e39
6912 Jan
73*4 Jan 10
1023,
10234
104 104
101 101 *100 107
10i E eb 4 115 Jan 6
350 \ ! ationai Biscuit . ! ! ! ”
96D Jan
*118% 123
llS-% 11884 *118% 123 *118% 123
uo p ret
"
11334 J ’ly o 125 Jan 17
118D Jan
100 1 ’
18
*15
*151« 18
IS
N at E n am el’g & s t a m p '7
*15
18
*15
17 J ’ ne 0
l'joo Eeb
28*2 Jan J
*86 100
*86 100
*86 100
*84 100
D o pret____________
8 0 D A layio
82 8 Jan
96*2
Jan
IS
68D 70
691' 093j
007s 683,
67*8 69
4,900 N ational L e a n . . ! ! ! !
711.1 E eb
60/8 J *iy 6
3 9 -s Jan 4
10484 104-34 103
Do
o
r
e
f_____
104% §105 105 *10o34 100
460
10234 A pr
K 3 J 'ly o 110 * 2 Jan 11
1734 18%
17D 177«
177S 18
18
18%
5,900
$ 1712 J 'ly 0 ¥21*8 M ay 16
75
*72
76
73
75
74
72
59
J ’ ne u
73
8o” EeD
1,300
o oD Jan
65
66
65
63
60
67% 68
66
72
Jau
1,550 N orth A m erican Co new
03 J 'ly 0
84 j an 3
23D 24*8
24% 24%
23
24
a c ’.ilc M ail_______
24"g
1,200
23 J ’ly 0
43*4 Jan
4
29is
*31
32
*31
31
31% *31
31
3310
a cilic T eiep * fe'leg”
31
J ’iy o
45*4 Nov
46*4 Jan 4
1043s 104% 105 105% 105*4 105%
104 105
1,800 P e o p le ’s G L & C (C hlci* 108*4 J 'n e 6 1163s Jan 6
lOHs Jan
84
84D 84%
84
8512 83%
861' 86D
420
::4 J ’ly 0 106*2 Jan t
99*2 D ec
16% 16D
16
16%
*15D 17
16*2 16\s
1 -JD J ’ ne 10
600
10 A p r
273j Jan ’
*63
67
64
*64
70
64
*04
D
o
pret_____________
'
70
0 1 “ J ’ ne 3
100
40 Eeb
85
Jail
J
31
32
32
31
32
31*2 31D
32
3011 J'lK;JO
725 ressed S t e c C a r . . !
3 UU Eeb
5l/s Jan 1
§96
*95
97
*95
97
96 J2 *941' 96%
D o pret_____
40
98*8 J 'n e 4 10/% Jan t
96 * Eeb
*154 160
150 156 §157 1 5 7
156 156
214 Pullm an C om pa n y
155 J n o 29 200 Jan U
169 Jan
3
3
3
*2->s
*2%
*2-%
258
100
2 % j ’n e 27
l i s Jail
3% A p r 6
*3D
6
6
6
*3*2
*3*2
*31'
D o pret.
6
3% A p r t
3 8 Alen
678 M ay-*
33
*30
31% 32
30% 30% *31
34*2
500 1> allw ay Steel Sprln f . .
30 J 'n e 3
32D
Meh
51%
Jan
3
❖ 92 102 §100% 100%
95
95*,| *93*s 102
Do prei _
2 1 0 TTi
95 J ’ly 5 107 Jan 17
97<8 Eeb
29D
30*4 §30~8 30%
30
29
28*2 29*?
1,350
27 J 'n e 4
-15%
Jan
o
16%
I'.eb
*90
92
91'8
91
92
01%
Do p re t_________
91% 91%
600
90
J ’ne 4 104*4 Jan 3
67's }',up
65
64
65
03
63
65% 65*2
65
loss Sheffield sT e e f*<£ 'ir
830
03 J ’lv 6
68 E eb
118*2 J an 0
114 114
D
o
pret___
100
114
J 'ly 5 1183. F eb 1 1073s I’ eb
*21D 26
22*' 23
2Q*s 21
217g 217g
1,500
88
*87
89
88
89
88
88
95
300
P acine Land Trust
S3 Feu H Vo AInyl3
80*'
*6%
7
6
7
()
7
*5
7
nlon
Bag
*
p
a
p
e
r____
400
6 J ’ly 5
13% Jan 10
9%
*55
60
*55
*55
60
60
*55
60
; 513 M ay V)
73 Jan 17
60
D o p r e t ..
§102 102 *100 103 MOO 103 *100 103
20
J
’
ne
3
3
122
Jan
no
nlted D ry tio o d s Co* ' 1 0 1
10383 1033s 1101% 104
100 100*4 100 BIO*.,
1,421
D o pret________________ 1100 J ’ly 7 U37s Jan 4 rl09
*14
*15
17
*14
17
*14
17
17
15 J ’ ne 10 32 Jr.n 3
24 3S
S Cast I P ipe & Foundr
5533 55-% *55
*55
60
60
60
60
350
04 Jan 10
40 J ’ 110 28
70
D o pret________________
*95 102
*95
100
*95 100
*95 100
100 J 11030 145 Jan 10
82
n(ted
States
E
x
p
r
e
s
s
..
69-3t 70
09
68
697g
69
69
69
700
68 J ly 6
841.! Jan •1
64
S H ealty * I m p r o v e m 't
*3l*»
6
4
-1
§1%
4*s
*3*2
4
140
11 Jan 14
4 J ’ ne 27
10
S H eduction & U cllniug
*10
21
13
*10
*10
20
20
13
100
291' Jan Jj
13 J ’ly 8
74
Do
pret________________
38-%
37D
36D
35
37
373.,
3612 37
3.S00
F eb 7
52lo Jan 3
35
27
108 108
107 107
108
108*2 109 109
Do 1st- pret________
107 J ’ ne 3 h o d Jan 10
98
*74
77
*73
*74
77
741' 74%
76
200
D o 2d p ret________
84 Jan 3
74 J ’ne 30
67*2
07D 70*s
70%
68*2 713,
69
69
71% 183,150
91 Jan 3
07% J ’iy 6
41%
1137S 114% 1 t3*s 114% 114% 11434 111*'
10,700
D o p re t.
6 12533 Jan
113%
J
’
ly
107
40
41
41
40
40'8
40% 41
41 "4 12,500
153038 J ’ne 10 $60*4 J an 6 5391,8
54% 56*4
553^ $6*4
55*2 567s
56% 59*' 23,060
47 F eb J
02*2 M ay 27
40%
120 120 "115
120
120
120 120
120
400
D o p re t.
J
’ne
>9
129*4
U91->
Jan
114
*
<
04
64
73 Jan £
60
A p r L'l
57
§15
15
8
15 F eb 4 §25 Jan 15
6
Do pret
80 Jan 0
60 F eb •I
45
*155 170 *155
170 *155 168
*165
:7i
\ V e i ls Fargo * " C o ! ! ! ! ! 152 l e b 3 a 105 Jan 4 300
61D
60*4 61*2
60*4 61
61
61
61D
1,850 y estern u n io n T e i e g . .
7SD Meh
60*1 J ’ly 6
64
01-84
56
60%
60
60*2 61%
60*' 60*'
2,200
82D Jan 3
53% J 'n e jo
74
*106 125 *100 125 *106 125 *100 125 "
Do 1st o r e f.
110 May 3 130 F eb *J4 n o

Q
a
<
K
■£
V
1

Thursday
July 7.

[V o l . Lxxxxr.

9130
5934
38

4

«
Q
Z
W
Oh
W

0

»-l
b
O
A
K
X
b

F

S

U

0

250 N OV
16/s All t
57*2 N o v
96*8 N ov
50 A u g
103 A u g
49D A u g
98 ‘ let
IS’.- N o v
86 J ’ ne
76*-> N ov
124-3! A u g
79*4 N o v
107*4 N o v
icO D ee
10 Eep
517s A u g
42*4 A p r
20 J 'n e
4734 J ’ne
69*4 A u g
J22 Aug
1 i d J ’ne
69 ‘ Sep
923g AUg
10512 N ov
11684 A u g
,285 N o v
105 .'la y
66-3-i N o v
136-3.* Sep
131 A p r
1451,« Sep
104 -'la y
401' Aug
1073.1 J ’ne
S64 6- D ee
36*4 St p
69 d Sep
lu4D lic e
19D D ec
37 ' N ov
5i34 O ct
i l l Sep
53 D ec
vlD D ec
37 c G et
105U Jan
20*2 J ne
931* J ’ne
63 D ec
41D Jau
9 512 Alay
94 A u g
17234 A U ?
91884 . D ec
128 D ec
9
O ct
27»a Jau
1914 Jan
6934 A u g
64l2 N o v
91 Sep
1 i 33 g D ec
95*« N o v
77;5g n e e
120 Sep
130 Sep
3014 Dec
9912 Sep
94

AUg

11334 A u g
97'4
87 d
48D
64 "
120
103
29 -ij
87D
56 '

N ov
J ’ne
N ov
O ct
Aug
D ec
N ov
D ec
Aug

U I 84 AU g

200

Aug
J ’ly
Alay
641 * A u g
109 ‘ AUg
4912 S«P
110*4 J ’iy
04»8 G et
120 Svp
849 Jau
93/3
iy
15-*8 J ’a s
8 D4 J ’ ne
1 2 5 D Deo
114 ' Dec
3 5 «o J ’ne
87*! A u ?
t i l l D ec
87 Sep
17*2 J ne
39*2 A ll?
5738 A u g
123u A ug
89*? A u g
047k O ct
(31 O ct
167*4 N o v
50*8 D ec
128 Dec:
75.’s Sep
37*4 N ov
9 H4 N ov
070 D ec
85*4 N ov
90 A u g
145 Sen
93 ,
10

J

BANKS AND TRUST CQMPANIES—BANKERS' Q(JOTATiONS.
B anks
B rooklyn
B road w ay Ti
B rook lyn .
C on ey Isl’ nT
First _____
H illside^ __!
H om estea d !
M an u fac’ rs'
A lech an ics’Tj
M on tau k . !
N assau ____

Bia

Ask

375
____
290
415
240
____
245

110
155
125
115
____
250
150
270

Banks
Brooklyn
N at C it y ___
N orth Side §
P e o p le 's ___
P rosp ’ ctF k *
Terminal §|.

Bid

Ask

295
150
158
150

305
180

1rust C o ’ s
N Y City
A . t o r _____ 350
Bankers' Tr 640
B’ w ay T r . . 145

♦Bid and a ik e d prices; no sales on this day,
•(Sale at S tock E xch ange o r at a u ction this




160
90

365
630
150

tr u s t C o’ s
N Y C ity
Carnegie .
Central T r !
Colum bia . .
Com m ercial
C om wealth
E m p i r e ___
K quit’ ble Tr
Farm L o& ’I
F i d e l i t y ___
F u 't o n ____

Bid

Ask

120
100)
275
120
R0
300
465
1700
207
290

130
1025
290
125
_.
310
485
1740
215
■----

•rust Co’ s Bid
Guar’ ty Tr 825
Guardian Tr
Hudson .
170
Knlckerbkr 300
Law T l&Tr

280

Lincoln Tr. 140
Alanhattan
375
Mercantile . 700
Hetropol’ t’ n __

M u tu a l____ 13 J
Alut APnce
N Y Llfe& T r 1100

__

Ask
850
175
175
310
2S5
145
40 J
740
535
132%
1120

1 rust C o's
N Y T ru st.
S a v o y ...........
S tandard lr
TltleG u& Tr
Tr Co o f Am
U nion Trust
US M tg& Tr
U nit S ta te s.
Van N orden
W ashington
W estchester
W indsor . .

Bid
645

Ask
655
105
41)0
410
490
500
34 > 350
135) 1375
460
475
1200 1225
235
375
150
12J
130

__

1 rust C o 's
Brooklyn
B rook lyn Tr
C it iz e n s '___
Flat bush __
F r a n k lin ..
H am ilton .
H om e
Kings (Jo .
L Isl L & Tr
Nassau _
P eop le’ s
•jueens C o .
W llila m s b ’ c

Bid

Atk

410
130
20J
220

•'3)
2j j

—
305
300
115

315
125
100

-

New York Stock Exchange— Bond Record, Friday, Weekly and Nearly
Jan. X 1 90 9, the Exchange method of quoting bonds was changed , and prices are now a l l - “ and interest"-e x c e p t for income and defaulted bonds.
BONUS
N . V. ST O C K E X C H A N G E
W ickk E sn iN o J u l y 8

Price
tr i'ia n
J u ly S

IFeefc’ s

Range

R ange or
L a st S a le

Jan uary 1

M n ce

BONUS
N. Y . S T O C K E X C H A N G E
W eek E nding J uly 8

P r ic e
P r id a u
J u ly 8

W e ek 's
R ange or
L a s t S a le

ls l

R ange
Mi nee
Jan uary l

ill
H i g h A’o| L o w J J iyh
H id
A s k L ow
C en t ot G a R R ( c on J
Low
H
ig
h
Low
H
ig
h
Mill
Ask:
l . > . (•ovcrnmuiti
90*8 Sel> '09
Cliatt D iv pur m ou g 48.1951 J-D ......... U2
l ’ u o '1 0
100*4 101*4
U S 2a consul registered.if193u T - j iOO-V 101 4 l o l
M ac <t N o r D iv 1st g 5s. 1946 J-J
1 0 0 ^ ......... I0 4 7e J’ue 08 . . . . .....................
100*4 10Pa4
100 *8 ......... Uio S J’ ne’ lu
U S 2fliaousoi coupon___ ctl930
.............
51K1 Gada A U D iv 6 s . . ..1 9 4 7 J-J 1 0 0
1 0 1 34 1 0 2 34
1
0
2
*4
J
’
n
o
’
1
0
101
*4
102
*i-F
U S 3s registered............ &1918
110 110
103 ......... 110 Jan T
M ob ile D iv 1st g a s ........1946 J-J
1 0 1 * 4 J ’ n o '' o
101*4 103
103 103
U 8 38 coupon................... /d 918 Vi-F 101*4 102
103 J au ’ li
102*»i 102*2 leu UUdfc B o t G a c o l g 5s 1937 M-N ......... 103
1 0 1 *4
10 1*4
U 8 3* con small bonds../dU lS Q-F
121
121
3 L20 i25V,
L20 121
C e n to ! N J g e n ’ l gold 58.1987 J -J
111*8
115*4
H 4 “s
114*8
i'i4®&
iYr>‘
"
L2U*4 120
U 8 -la registered................1926 u - i
1 2 0 * 4 J’ne'lb
120
122-V
R
e
g
is
t
e
r
e
d
...................
a
1987
Q-J
ll4*-2
1
1
o
34
ll4
*
o
J
’
n
e
’
10
U 8 4s coupon..................... 1925 Q'F 114 4 l i s t , 1 0 1
A m D o ck i t Im p gu 5 s .. 1921 J -J f.......... 110 Hi 107 J’ne’ 10 ...j 107 1 O3 *4
M a r’09
07
.........
U 8 Pan Can 10-80 yr 2s.A:193U Q-N
De it H u d R ge n g u g 5s 1920 J . J
Dell & W U ks B Coal 6 e ..l9 1 2 M-N 1UUV,............ IOOV; 51 ay TO . .. LOO4 101*4
I'Drcitfii ( iovcnuiHMii
Con
e
x
t
g
u
ar
4
4
s
___
g
!9
1
0
Q-M
..................... 100 Alay’ 10 . . . 100 10U*4
96*4
96*4
95*4 97
Argentine— Internal 5sol 1909 51-S t 96*8 97
A Y & C o u g B r g e u g 4 s 1941 M-S
imperial Japanese Governin']
Cent
Paeitio
nee
So
P
a
eiiic
Co
94*4
9
(3
V
.
94*,
94 4
Sterling loan 4 4 s ........... 1925 F-A t 94 4 Salt
85
87
J’ne’ 10
85*4 90
94 2,
94*,
9 3 7s 9 5 78 C ent V e rm o n t 1st gu g 4 s . e 19 20 Q -P
2d series 4 4 s .................}9g5 J - J t 9 4 :,s 94*8
88*8 92 4 Clias it s a v nee A tl c o a s t Dine
90
Sterling loan 4 s ............. 1931 J -J t 89 7„ 90*8 20
100*4 Alay'10
100*4 101*4
C
h
cs
it
O
hio
gold
6s
.........
a
l
O
l
l
A-O
101
S
i
104
t
102
4
103
103
103
MS
Repul) ot Cuba 5s oxten debt
i iu2 105 Hi
102
G en lu n d iu g it lin p t 5 s . l o t o J -J ............. 104*4 102
96 '-j
90*4
1196 *8 97*4
San PauiofBrazib trust5s 1919 J-J t 96*-j 27
1 111
114*4
It 1*4
1st co n s o l g o s ................... 1039 M-N 111 111*4 111*4
9G34 99*4
96*4
U S ol -Mexico s 1 g 5s ol 1899 q -J 1 9 6 ’ # 9 7*8 9 0 34
112
V,
Jan
’
In
112*41124
R
e
g
is
te
r
e
d
.......................
1939
M-N
94*4 97 4
95*4 97*8 96 J ’ u e’ 10
Gold 4s Ot 1904.................1954 J-D
.0 3 *4
100
100*8 15 93
G eueral gold 4 Vis..............1992 M-S IOOV. 101
\ T hese are pr ices o n the b a sis of $5 to £ .
101
7
q
101
‘s
1
0
i
7
b
J
’no’
lo
R eg iste re d ....................... 1992 M-S _____ 1 0 2 34
S tate and City Securities
92
9 2*1 03 lJ 2
Do ^
92*4
sale
C
o
n
v
e
rtib
le
4
Vis
(w
h
i
s
)
.1930
F-A
100*8
101*8
326
100*4 Sale 100*8 10034
N Y City— 1*4S rects......... 1900
87
SB
89
Apr
TO
85*4
89
big
s
a
n
o
y
1st
4
i
..............
1941
J-D
194 98*4 100*8
28*4 Sals
9834
99
4% Corporate Stock........1959 M-N
85
85*a J’no’ iO ___ 83
82
86
Coal R iv R y 1st ; u Is ..1 9 1 6 J-L)
30 98*8 100 ‘-2
99
99
99*. 9834
4«0 Coruorate stock ....1 9 5 8 M-N
............ . . . . . .
UO M a) ’09
Craig V alley rat g 5 s___ 1940 J - J ^......... 103
17 106*4 109 7e
___
.................
Now 4 4 s ........................... 1957 M-N 106*o 1067a 106*8 ' 0 0 76
90
J
a
n
’09
82
90
P
otts
C
reek
B
r
1st
4
s
.
.1
9
1
6
J
J
1 0 2 34 1 0 3 '-j
99
New 4 4 s ........................... 1''17 M-N 103 103* 1 0 2 34 J ’ly ’ 1 u
97 J’u e lo -T — 97
K it A D iv l s l con g 4 s .. 1989 J-J ......... 97
4 4>*0 Corporate Stock ..195 7 M-N l p 6 7a Sale 106 *a H>7 **7*8 106*4 HO
90 V, J’ne’ iO
00 4 93
85
92
2d co n so l g 4 s .................1989 J-J
4 102*8 104
103
................
4 4 % assessmt b o n u s.... 1917 M-N 103 Sale 103
113*4
a
e
b
’ou
W
arm
)cpr
Vai
i
s
t
g
o
s
.,1
9
4
1
M
-s
24 98 7a 100*2
99
Os 4 99*8 U87s
4% Corporate Stock___ 1957 M-N
91
9 1 *4
87
93*4 91 V, Alai TO
G reen b rier R y l s t g u g 4s ’49 M-N
113*8 J ’ u e’09
N Y state—Highway 4 s .. 1958 M-S
73
77
73 J ’uoTO
Clue it A lt R R re l g 3 s . . . 1949 A-O ......... 72
i03**o ! “ *"! 1 0 2 * 4 Jan ’09
So Carolina 4 *us 2U-40........1933
70
7 1*4 Vi8' 63*4 75
71 Sale
R ailw ay 1st lien 3 V>s...I960 J - j
96
96
95*o 96*8 95*4
Toun new settlenieul 3 s ..1 913
R e g is te r e d ....................... 105U J -J
0
0
7
t
U0V
8
J
an
’
10
Virginia lund debt 2 - 3 s ..,l 9 9 i
99
l| 98 4 190
99 ......... 99
C h l c B u r l i t y — D e u v D 4 s lU 2 2 F-A
56
45 J ’ ne’ 10
6s doiorred Brown Bros etts.
86*4
15 8 6 * 4 8 9 V»
......... 87 V. 8 6 V,
Illin ois D iv 3 *28................ 1949 J -J
91*4 Dec’os
R e g is te r e d .......................1949 J -J
Kailioui'.
98 7„ Sale
93 4
99** 58* 98 4 100*8
Ills D iv 4 s ..........................1949 J - J
lauuuia Cent Nee so Ky
Iow a D iv siiiK lu n d 5 s . .1919 A-O 104*4......... 10.3*4 Oct ’09
laba 5Udi n ee A t Coast Bine
9 8 ’s 1 0 1 * 4 99 *4 J ’ne'10
98 4 190
S in k in g lu n d 4 s .............. 1919 A-O
Albany it Suau Nee Del it Huu
97
99
Alay'10 . . . . 98*4 199*1
N eb ra sk a E x ten sion 48.1927 M-N
Allegheny Valley Nee Penn UK
1U1 ‘b M ai’OU
R e g is te re d ....................... 1927 Wl-N
AUeg it West n ee Bun it it P
07 * 4 ......... 1) < M uj 1i U . . . . 97 *4 99
South w estern D iv 4 s___ 1921 51-S
75
83 V,
74
75
75
75
Ann Arbor 1st g 4 s......... A1096 *f-J
J o in t bonds nec G reat A ortli
0 8 *4 Salt
98 4
9 8 76 207 98*8 101
101 102*8
Atob 'i it 8 Pc— Gen g 4s. 1995 A-O
D eben tu re 5 s ..................... 1913 M-N 101 101*4 l o l J ’l y ’ io
98 100
9a
J’ne’
lo
A-O
97*8
b7'* V-5 97 100
Registered...........................1996
97*4 98
G eu eral 4 s ....................... 195S M-S
88
96
88
89*._
1 0 l*sJ T y T o
101 102
Adjustment g 4s........... 7*1995 Aov
101*8.........
Han
it
SI
J
os
co
n
so
l
6s
..
iO
l
l
M-S
92
92
92 J a u ’ 1 0
Registered................... A1995 Nov
82 ’4
o2 *4 i i 81
8 0 ‘g
82*4 83
89
94*4 C lu c it E 111 ret it im p g 4s 1955 J - J
89 *8 Sale
89
89 4
127 127
Stamped.........................7,1995 5l»N
120 127*8 12 i Apr TO
l
s
l
co
u
s
o
l
g
6s
...................
1934
A-O
113V,
1
17
113*a
A
l*r’
lo
Couv 4s issue ot 1 9 0 9 ...1 9 5 5 J-D
2
lub*^
i
13
10:5
H
j
111.S
lUs3#
1U5
*
b
G eneral co u s o l l s l 5 s . .. . 1937 M-N
100 1227s
104
lV Conv g 4 s .......................... 1956 J-D 101 l 01
R e g is te re d ....................... 1937 M-N
102 104 *4
102
102 \
Couv 4s (when lss)......... 1969 J-D ......... 102
1 12 i ia r i u . . . . 1 1 2 1 1 2
109
V,.........
Chic
it
im
l
C
Ky
1
st
53.1936
J-J
10434 122*8
106 4 Sale 104*4 106*8
1 0 -year oonv g 5 s ......... I f 17 J-D
9s7ftJan
UH78 9 8 7h C h icago it E r ie nee Erie
Debentures 4s Series J .1912 F-A
126 129 V,
Clue m it i.o u is v re i 6 s ...1 9 4 7 J - j 122 ......... 126 J’ne’ lo
98 Vi 98
*
114 i>oc'uy
Series K ...........................1913 F-A
106*4 111
R ctu m lin g gold 5 s ........... 1947 J -J
97
97*4
92
........ 97 Apr TO
1 100
East Okla Div 1st g 4 s ..1928 M-S
1UU J ’nolO
100*4
D ouisv A A <t Ch l s l O s.PJld J - J
92 Vj 9434
92 V, J’ne’ iO
92 V, 93
Short Brno 1st 4s g ......... 1958 J-J
94 Apr TO . .. J 93 4 94
89
9.)
109
AIav’ 10
109 109*2 C lue lu d Ja S o u 5 0 -y r 4 s ..1 9 5 6 J - J
8 Po Pres it Ph 1st g 5s. 1942 M-S
Cine 5 1 U & St P term g 5s 1914 J - J 102*8 104 103 J’ne’ 10 . . . . 103 103 4
Atl Knox it N Hee b & iN
98
98 *4 96| 93 100*4
98 Hi saic
G eu eral g 4s series A ..«1 U 89 J - J
92V» 9 0 76
93
93
93*4 94
Atlantic Coast 1st g 4S ./U 952 M-S
103 *4 Oct 08
R e g is te r e d .....................81989 W-J
Ala -Mid 1st gu gold 5a ..1 9 2 8 M-N 105 ......... 109 S e p ’09
SO*8 89
86'*8 J'ne’ lo
86*8
SO
G
en
eral
g
3
Vis
s
eries
B
.s
lo
o
J
J
J
90 ......... 9 0 * 4 J’ ue’09
Bruns A: W 1st gu g 4s ..1 9 3 8 J-J
91*4
b 1*4 *2 ll 9 1 4 93*4
01 *8 sale
25-yr d e b e n 4s ..................1931 J - J
Charles & Sav 1st g 7 s .. 1936 J-J \>2rt
lU5 *4 . . . . . . 197 ‘ 4 Alar le rT-»l 107*4 103
Clue
it
D
S
u
D
iv
g
5
s
___
1921
J
-J
89*4
96*2
90
90
V
,
90
90*4
10 /
110*4
D it N coll g 4 s ...............ol962 M-N
C h ic it A lo R lV D lV 6s . . . 1926; J - J 106 - j ......... 107 9 ne'lo
J’ ne’09
Hav P it W 1st gold 6 s ..1934 A-O 120 ......... 1197
100 Sale 196*4 1964
8 lu o 1^ 106^4
C h ic it P W 1st g 5 s ........1921 J-J
112 112
1 1 * Alar’ 10
114
103*8 103*8
10 1 V.......... 103 4 A p r T 9
1st gold 5s....................... 1934 A-O I l l
D
ak
it
G
t
Ho
g
5
s..............1916
J-J
9
7
V
,
90
J’ne’
10
96
95 .........
HU Sp Oca <&G gu g 4s ..1 9 1 8 J-J
116*4......... 110*4 Alay ’ 10 ___ li0*» 11 o34
Par it Hou assu g 6s ........1924 J-J
10634 106
Atlantic .t Danv n ee South Ry
D aCrosse it D 1st 5 s. ...1 9 1 9 ! J - J 105-*8 106 :1U6 J’ne’ lo
1 100 100*8
100 Alay’ 10
Austin it Pi W Ass Sou Pacillc
51iueral
P
o
in
t
D
iv
5
s
.
...1
9
1
9
J
•
J
92
7
b
32
90
90 .. 00*1
00 Hi Sale
a lt< tO h io p rlo rlg 3 1<i3.1U25 J-J
100
A
o
v’Ob
r
t
So Aliun D iv 1st O s..___ 1910’ J - J
0 1 14 Oct ’09
Registered................./il9 2 5 Q-J
107 4 t v l
106 4 ......... lo 7 78 Alar" u
W i s i t A l i n u D i v g o s ___ 1U 21J
984,
99*4 12 97*4 100*4
lOu-b May’ lU
Gold 4 s ............................. A1948 A -0
1 0 0 ‘4 1 0 0 * 8
M il it A o 1st M D O s ....19 1 0 J-D
9 9 't
26 2Vpr’ 10
UO
R egistered...................7,1948 Vt-J
105
Alay’lo
101*4 105 4
104
l4
.........
1st c o n so l 6 s ................... 1913 J-D
120
Oct ’ 0 1
Pitts J uuc 1st gold 6 s ... 1922 J-J
110*8 113 112 Aiay’ lo ___ i l l *4 113
’ 89*8 C lu c it A o r t h w c o u s 7 s ___ 1 9 1 5 'y -F
89 *8 Mur 10 ’ ’
89*8
100 J’uo 10 . . . . 96 4 101
P J un <t Al Div 1st g 3 *081925 M-N
..........
O
o
U
E
x
te
n
sio
n
4
s
..........1886-1926
P-A
93
, 89*4
09*4 17
XOOtj j - i y -09
P B E « t VV V u Sysrel 4sl941 M-N
U4 .
5**l4 91
R e g is te r e d ............1886-1926 P-A
8 J 4 a9*4 J’no’ 10
South w Div 1st g 3 4 s . . . 1925 J-J
89*4
87 *4 20 87
87*4 88 I 87 *8
G eneral gold 3 vis............. 1US7M-N
8? V, 90 V,
89 Vi Apr ’ in
93 *a A p i ’9b
...... .... Rogi8lered...................7,1925 tj-J
103
R
e
g
is
t
e
r
e
d
..................p
ly
a
7
;*
p
P
103
103 Alar"
Con Ohio R 1st c g 4 4 s . . 1930 M-S
110*8 111*1
........... 110 *8 May lu
S in k in g lunu 6 8 .-.18 7 9 -1 9 2 9 A-O 1 1 6
110 V, 113*4
111
-'lay
TO
U1 Dor <t W con 1st g 5s 1933 A-O
109 ........ 111*4 NuV’ bb
R e g is te r e d ............1879-1929 A-O
10 o 78 Peb’oV
106
J’no 19
106 109 4
Motion Rlv 1st gu g 6 s ..1919 F-A
S in k in g lund 5 s . .. 1879-1929 A -O 1U5 106
112 D ec’09
106 106
Ohio River UR 1st g 58.1936 J-D
105 106®» 106 Mar lb
112
A
o
v’oU
165 107
Geueral gold 6 s ............. 1937 A-O
Debenture 6 s ..................... 1921 A-u ......... 107 ’• I07 May* 10
liU*a
Mai’04
Pitta Clev itT o l 1st g 6s 1922 A-O
106 4 106 4
106
v,
1
eu’
ib
Registered.......................1921 A-O
98 Vi Sep ’ ou
Pitts it W est 1st g 4 s ... 1917 J-J
109 4 1 1 1 4
SUlkmg tumi Ueb 5s........1 9 3 3 M-N 1U7*8 111 119 Aiay’ lU
100
Mov’04
. ..........................
Stat lsl Ry 1st g u g 4 4a 1943 J-D
109 J i y ’os
Registered.......................1933 M-N
‘J 114*8 117 ‘4
Beecii Creek n e e A Y c Js H
.114*4
114*4
114
4
...........
Mil D S it West 1st g 6s 1921 M-b
Bellov it Car n ee IllinoisCeui
AAVd 1 AViJ4
E xt it Imp s luud g 5s 1929 F-A 106*8 ..........
Bklyn it Moutauk n ee Doug 1
.....................
Ashland Div 1st g 6 s ..1925 M-S 1 L i *4 .......... 142 *5, P'Cb’92
Bruns it West n ee Atl coast D
117^
.
Alich Div 1st g Os......... 1924 J
.............................
Buitalo A Y it Erie n ee Erie
IOOV,........... 1U3*4 Aiuy’90
in
c
o
m
e
s...............
..
..
..
1
9
1
1
M-N
109
1157
e
114*4
Feb
TO
.
.
.
.
113
Billlalo K it P gen g 6 s . . . 1937 M-s
109*8 110 119*4 Apr TO . . . . 110 4 112
Cousol 4 4 s ........................19o7 M-A 107 109 107 Alay’ l u . . . . 105 109*8 Clue Rock lsl it Pac 6 s ...1 9 1 7 J-J 1 0 8
1 13 4 Aug’09
ill
R e g is te r e d ...................1917 J-J
99*8
96
93 s ......... 96
1| 96
All it W est 1st g 48 g u .. 1 9 9 8 .A-O
95
99
96
bu*8 96
96*i n
General gold 4 s.................. 1988 J - J
103
J
’
l
y
’o
8
108
Cl it -Mall l s l gu g 5 s . .. . 1943 J J
.
98*4 Feb ’ ll ____ 98*4 98 *4
)1 5 J ’ n o lO . . . . 115
Registered........................1988 ‘ ’
92
ROCU it Pitts 1st g 6 3 ...1 9 2 1 F-A 11-1*6 U U V
8 6 ‘4
8 1 AlU 86
80 -v Sjaie
Relundiug g 4 s ................1934
1
16
*4.........
116 *4 Apr T o . .. . U 6
I
Consol 1st g 6s.............. 1922 -1 -U
97 J’l y ’Oi ___
T
Atar’ 10 . .. .1 72
Coll trust Series 11 4s ..1 9 1 0
97*»
97 *a
Bull it S usq 1st ret g 4s.itl9&l;J J ......... 70
i
97*s
-97
V
2
9f
J 4 s ....................................1912
.
9 4 4 Jan’ U . . . .
Bur C R it A n e e C It 1 it P |
94 4 94 4
M -is....................................1915
104V,1 '2 104 105
. 94 D eo’Ui
/ \au So Is* ext 6 s .............. 1913 ■*-J 16334 104 V, 101 J ’ no'
iO
.
..
100^*8
101*4
,
L-JU t>, ................................... 1913 M-S
9 4 ‘ 4 94 4
.
94*4 Aiay’ ll . . .
1 0 0 34 Al»y’o7
Registored...................... 1913 ‘d -8
. 93 4 Aug’ oi . . .
Giro it Shawn n e e lUCeul
71*8 8 3 78
71-*bSalo
71*8
72* 67"
76*4 89 4
Caiollli-* Cent AeeSeab Air D
76*4 5iay’ K >. . .
.......................... .
Carthage it Ad n e c -v \ C it H
> 1 o7 V ,1 U j4 113 *4 M ar'll . . . 113 4 1 1 4 4
Bur C R it A — l s t g
Ced R la 1 it A n e e B C U it A
Registered...........
Aov’ O . . . .....................
> 104 .......... .1 1 1
Con Branch Ry n e e 51o Pac
CRI P it A W 1st gt
1 1 2 V, 113 V,
1 1 - "v J’no 10
Gout ol Ua lilt 1st g o s ..p l9 4 5 1' - A
103*4 109
Consol gold 5s................... 1945 M-N 104*8 105 101*1 J’uoTO
194
Alay’
l . . . 1iu4 i o i
1 101
103
108 113 A p t ’ 0 6
Registered....................... 1945 M-N
no
......... 108 V, 108 Alar’ l . . . j 1 0 8
Consol gold 6s............... 195’4 1
88
82
8 6 *4 J’lie’ lo
86
1st ptel income g 6 s ....p l 9 4 5 Get
99
___ . 104 F eb’ JU . . . J 103*8 1 0 1
Keok
it
lies
51
1st
5
s
....1
9
2
3
.
8
8
84
85
Apr
TO
86
Stam ped............................................
8434 line s t e it A U n e e iU C eni
i 79
.......... fcOV, S i J ’nu’ 10
2u prel income g on___ p l945 Uot
1 79
83*4 Jiao St D it Pitts n e e peuuCo
79
Apr TO
1 123 127 4
123
J 122*4 124 *4 123
82
80
60
2 75
J
87 . . . . _ 93 D eo’O3 . . .
: so
81
81 Alay’ 10
3d prot in com e g 6s s ta m p e d .1

100:*8101

A

....

B

....

_
..
_

2

....

8‘2

lih O U U X N K O U S

B U .N U .4 _C o n tin u e d o n .Next P a g e .

Street ltniHvay
.-ill-pel I t u il'v a y
7 0 4 J’ne'10
73*4 80
s.1997 h" A
2 102 10 4 7t "
B rook lyn ltup X r g 5 s ........lb ia A O 103 103 4 103 4
103 4
......... 47 4 J ’ne’ !C
..2 0 0 2 A-O
165
IV,
87
82 Sale
1st rotund c o u v g 4 s ___ 2002 J J
814
62 4
1 8 4 J’ne'lC
.........
103
4
a
1U43
J
-D
1 101*4 104
B k C ily ls t c o n 5 s . 1916.1941 J ■J ......... lo l 4 1014
1014
96 5iu) TO
94 100
i.l'J'JJ J-S
Bk D Co Jo s coil gu g 5 s. 1941 »■ N .........102
99 4 Mar’ 09
9 7 Apr ’ 10
94
99
M-S
s
1993
Box
A
V
&
P
P
l
s
t
g
u
;
C
109
103
1 1 ,0
IO-.'
B k lyn Dll El l s t g 4 - 5 s .l9 5 ii F A 1 0 , 101
01 -Uay’ lO
s 2000 J-J
iOOV, 103
100\ J’ ue’ l
Stam ped guar 4 -5 S ....1 9 5 0 F-A ......... 101
02*8
03 4
84 ’ 85
K in g s Co El 1st g 4 s -----D R1 P A . . . . . . H*A?b s 4 ’’4 a pi TO
105*8 105*8
1054106
..193
7
J-J
83
’4
85
*,
M
J ’no' 10
Stam ped guar 4 s .........lO-D" F-A ......... 83
8 7 .Uai’ H
......... 85
..193 5 J-J
76
82
76
77
77 J ’ ne’ 10
A assau E lec gu g 4 s
19ol J J
98
X
o
v
’OS
M-N
97 4 .........
K i2't 102 *t St Jos R
102'» M a r 'll
Conn K y it D 1st it ref g 4 *ys ’ o 1 J-J ......... 102
107 *8 B ee’ 09
.........108
s.1937 J-J
s i Paul 1 0 0 *-, 1 0 2
Stam ped g uar 4 V ,s......... 1951 J J 1 0 0 4 ......... loo 4 J’no'lO
97
J’ne’
10
96*a
97
A-O
s.1923
80
82*8
80
82
s o 4 J’ ue’ lO
D et U nited 1st con g 4 Vj*>1932 J-J
98 A p r’09
..192 0 M-N ......... 100
94 4 ......... 94 Apr TO
93
94
H avan a l-.lcc con sol g 5s. 1952 F A
83
83
J-J
83
4
84
..1
9
3
*
7*J34 saiL
78
83*.
79 4
8 0 4 in
In te r d ict coll -1 Vis.............19o6 A O
32 4 3 6 4 32*u
344
..194S
loi'*e 77 101 104
in t e r R ap T 3-yr c o n v 6s. 1 9 11 VI. N 1 0 1 ‘ 4 Van 1 0 1
84 Oct ’08
..194 5 A O
1 101 *4 103 * U mou 1
1014
4 5-year Os S eries A ....... 1952 M-N ......... 191*8 1 0 1 4
82
May’
lb
J-J
s.1934
‘
.........
b
l
7^
67 4 Mar’ lo
67 *s 67 *s United
InteruaC T ru e poll tr 4 s .. 1949 J-J
60
69 4 65 4
65*4
s.1927 A-O
9b Alay'06 . . . .
M-S .............. .
—*_j^~pr";ee pnday; latest tills week. 1! Flat. aDue Jan • <1 Due Apr « Due May g lU u s J’ne A D u e J ’ly JcDu* A « « oDae Oct p D u e A o v




75
82*4
47*s 54

b
8*a102
96 102

96 V, 99
64
69 V,
63*8
n o 61
1 105V»10878
87
87
___
...
J
9b

83
86
31*a '10

....
1

81V, 33
65
74

* Option Sal*

83

Sew Sork Bond Beoord~Continued— Page 2

BONUS
N. Y. STOCK E X C H A N G E
W eek E nding J u l y 8

J r ice
f'ridati
J u ly 3

W eek 's
R a n ge or
L a s t S a le

Chic St P A t A O—( t o n )
Bid
H igl\I N o L o w H ig h
AS/t Low
Cli St P A Minn IstgO s 1918,...
M-N 122
123
123
‘ .123 127
Nor Wisconsin 1st 6 s ...19301 J-J
129*4 M ay’ 0 9 L .. .
St P & S City 1st g O s...1919 A -0 111*8 1 1 2 4 112*4 J’ ne’ lO;___
14'4
Chic A W est Ind sen g0s7l932iQ -M 103 119
112 M ay’ i o : . . . . 1 0 8 4 1 1 2
Consol 50-yoar 4 s.............1952 J . J ......... 90
90 M a y lO . . . . 90
93 4
C lu e * W M idi s e e Pore Mara
Choc O & Gulf Nee C K U P
Cln H A D 2d gold 4 4 s . ..193 7 J-J
113 O ct ’00
Cin 1) A 1 1st gu g 5 s ...1941 M-N 100 ICS's 101 M ay’ 10
101 108
C Kind A Ft W 1 st gu 4s g .’23 M-N
87 4 J a n ’ 10
• Cin 1 A W 1st gu 5 4 s .1953 J-J ......... 85
87
87 4
107 M a r’ 10
Ind Dec A W 1st g 5 s ... 1935 J-J ......... 107
105 107
1 0 7 4 D e o ’ 02
1st guar gold 5s............. 1935 J-J
C 1 St L A C Nee C C C A St L
Clu S A C Nee C O C St L
Clearfield & Mali Nee B R & P
53
93is 93
Clev Cin C A St L gen g 4s 1993 J-D
904 964
U4is 9 4 4 A u g ’09
Cairo D lv 1st gold 4 s . . ..1 9 3 9 J-J
Cin W A M Div 1st g 43.1991 J-J
9 1 4 0 4 4 J a u ’ 10
94 4 94 4
9 2 7s 9 1 4 J ’ no’ 10
St L Div 1st col tr g 4 s .. 1990 M-N
91*4 95»<
91 O ct ’ 07
Kegistered....................... 1990 M-N
Spr A Col Div 1st g 4 s ..1940 M-S
100's 96 D e c ’09
92>s 90 M ay’ 10
W W Val Dig 1st g 4 s . .. 1940 J-J
90
90
1 0 5 4 F e b ’ 10
C I St 1. A C consol 68..1 9 2 0 M-N
105 4 105*4
97 J ’ n e’ 10
1st gold 4s..................... *1936
97
98*-.
F
08 F eb T O
Kegistered................*1936
98
98
F
109 4 Sep ’*)9
Cln S & Cl con 1st g 5s. .1928
J l 1U4
109*4 D eo’09
O C C * 1 consol7s..........1914 J-D 107
Consol sink fund 7 s ___ 1914 J-D
125" Nov’OO " "
General consol gold 6s. 1934 J-J 117 123
Kegistered....................1934 J-J
94 J’l y ’08
Ind Bl & W 1st prof 4 s .1940 A -0
O I n d A W l s t p f 5 s ...t a 9 3 S Q-J
91
95
Peo A East 1st con 4 s ...1 9 4 0 A-O
94 4
54
Sale
incom o48........................1990 Apr
67
Clev A Marietta Nee Penn BK
Clev A Pitts N ee Penn Co
08
68 Sale
Coi Midland 1st g 4 s..........11*47 J •J
68
81*s
95
95
95 >s
Colorado A Sou 1st g 4 s .-.1 9 2 9 F-A
94 4 9 7 7e
9 6 ‘ 4 Sale
064
Beiuud A ext 4 4 s ..........1935 M-N
96
99
Ft W A D en C 1 s t g 6 s . . 1921 J-D 111 ia 112 1 1 1 4 J ’ n e ’ i o
1114114
Coluin A Greenv N ee So By
•Col A iiock Val Nee Hock. Val
Col A Tol Nee Hock Val
Col Conn A Torra Nee N A W
Conn A Pas Klva 1st g 48.1943 A-O
100 May’ 1 0
Cuba K K 1st 60-yr 5 g . .. .l 9 6 2 J -J
100
100
ak A G t So Nee C M A St P
alias A W aco Nee M K A X
Del ijack A W e s t e r n Morris A Essex l s t 7 s . . . 1914 M-N 1 1 0 4 ......... 1 0 9 4 J ’ne’ 1 0
109*8 111*4
1st consol guar 7 s........1915 J-D 111*8 H 2 4 1 1 2 J ’ n e ’ 1 0
112 114*a
127 J'ne’05
Kegistered................... 1915 J-D
94
1st ref gu g 3 4 s ........... 2000 J-D
117
N Y ijack A W 1st 6 s . . .1921 J-J 115 117 117
113 117
1074108
1 1 0 4 F eb ’ 1 0
Construction 6s............1923 F-A
11 0 4 1 1 0 4
98
09
93 J ’no’ 10
Term A Improve 4s___ 1923 M-N
97 a 1 0 1
102 4 Feb’03
Warren 1st ref g u g 3 4 s .2 0 0 0 'F -A
' Del A Hud 1st Pa Dlv 7s.l917iM -S I 16 120 120 MarTO
120 1207i
Aug’01
114
149
;
Boglatered.......................1917'M -S
97 4 Salt
97
984
10-yr conv deb 4s...........lO lG 'j-D
97 102
101
1014 101
1st lieu equip g 4 4 s ___1922 J-J
100*a 103
98
98 »s 98*8
08 1st Arof 4 s .........................1943 M-N
07*8 100 4
9 1 4 94
91
914
A lb A Sus conv 3 4 s ........1946 A -0
91
97 4
!
Kens A Saratoga 1st 7s. 10?1 M-N 1 2 2 4 125 123*4 J’ne’10
123*4 130*4
D el K lv B K Bridge Nee Pa KK
92*4 Sale
92*8
924
D env A K G r is t con g 4s. 1936; J-J
92*8 97*4
......... 104 *s 1 0 4 4 M ap 10
Consol gold 4 4 s .............. 1936! J-J
103*4 104 4
102
J ’ne’10
Improvement gold 6S...1U 281J-D 100 101
1 0 1 4 105
91 Sale
904
91
1st A refunding 5 s......... 195i> F-A
00 4 0 4 4
98
F eb’08
K 1 0 Gr Juno 1st gu g 6 s .1939 J -D
78 D ec’09
79
B io g r S o 1st gold 4 s___ 1940 J-J
85 Mar’08
Guaranteed..................... 1940’ J - J
91
9 1 '4 93 J ’ne’10
Bio Gr W est 1st g 4 s___ 1939 J-J
944
84 J’neTO
M geandcol trust 4SA.1949 A-O
84*4
97
Jan ’ 0 2
U ta h C e u tlstg u g 4 s o l9 1 7 A-O
DCS Mol A Ft D S 'e s M A S t L
Sep
’04
110
D es Mol Un By 1st g 5 s ..1917 M-N
94
95 A p r’ 10
Dot A Mack 1st lien g 4 s. 1995 J-D
95
97 *(
89
92
90 J’iy TO
Gold 4a..................................1995 J-D
88
91
74
74 Feb'10
D et So—O S Dlv 1st g 4 a .1941 M-S
72
74
112 109 May’ lU
D ul A Iron Kungo I s t 5 a ..l9 3 7 A-O
109 111
1 0 6 4 Mar'Ob
, Begiatered...........................1937 A-O
\ 2d 6a..................................... 1910 J-J
Dul Short Dine Nee Nor Pao
D al So Shore A A t! g 6 s ..1937 J-J 1 0 6 4 1 0 8 4 1 0 6 4 J ’n e ’ 10
10641064
IJ as tot Minn N ee St P M A 51
JCjaatTon"Va A Ga Nee So By
113
D
ec’09
1
0
7
4
U
0
4
M-N
Elgin J ol& East 1st g 5 a .1941
Elm Cort A -No Nee Leh A N Y
1 1 8 4 May’ 10
Erie 1st consol gold 7a. ...1 9 2 0 M-S 1 1 3 4 1 2 2
118*4 12 2 4
9 9 4 ........ 1 0 0 J’neTO
100
100
N Y A Erie 1st ext g 4s 1947 M-N
2d ext gold 6s..................1919 M-S 103 105 106*4 MarTO
106*4 1 0 0 * 8
99 ........ 103 MarTO
103 10 3 4
3d ext gold 4 4 s ............. 1923 M- S
106*4
Jan
TO
4th ext gold 5s............... 1920 A-O 102 ........
106*4 106*4
5th oxt gold 4 s...............1928 J-D ...................... 9 9 > 4 Feb ’ 1 0
99*4 99*4
N I L E A W 1st g fd 78.1920 il-S ......... 120*4 124 Aug’09
81
81*4 36 81
Erie 1st cou g 4s prior..1906' J - J | 81*8 Sal6
874
Keglatered................... 19961J - j ! ..................... 81 Nov’09
la t consol gen lieu g4 sl9 9 0 ! J- J j 6 8 4 8alt
6 8 *4
71
6 8 * 4 76*8
85 4 F e b ’07
Kegistered................... 1996! J - J 1 ......... 70
86
J’neTO
Penn coll tr g 4a......... 19511 F -A 1 86
86
83 4 8 6 * 4
67
68
67 Sale
67
88
60-year conv 4o A ___ 1953 'A-O
60
62
do
Series U .1 953 'A-O'
61 Sale
60
73 4
. . 116*8.1134 Mar’10
Bull N Y A Erie 1 st7 s ..^.910 J-D
1137,113*8
J’a»T 0
Clilo A Erie la t gold 6 a ..1 9 8 2 'M-N 111**s 112 4 i l l
110
115
Clev A Maliou Val g 5s.l938| J-J 1 1 1 4 ......... 121 D eo’08
Long Dock consol g 6 s ..1035 A-O
127 Mar’ lO
120 127
Coal A B B lat cur gu 6a. 1922, M-N
114 114
, 109 4 114 Apr TO
Dock A Imp la tc u r O a ..1013: J-J 100 ..........1io3 4 G o t’09
N Y A Green D gu g 5a. 1946 M-N
98 105 103 4 J*n TO
103 4 163 4
N Y Sus A W lat rer 58.1937' J-J
....... 1 0 0 4 102*8 J’no’ 10
1014 1044
2d gold 4 4 s .....................1937 F-A
1 0 0 * 4 D eo’ 06
General gold os............. 1940 F -A .......... 89
89 J’ neTO
89
93
Term inallar.gold6s.-.1 9 4 3 M-N 105 ......... 1 0 3 4 M a y ’ 10
1084 1084
Begis $5,000 each...1 9 4 3 M-N| .....................
M ld K B o tN J Istg O s. 1910 A -0 ..................... 100 4 MarTO
100*4 101*8
W Uk A Ea 1st gu g 5s. 1942 J-D ............ .
1 0 1 4 M arT O ___ 1 0 1 4 1 0 1 4

122

!il2*4 i'

D

iU

G a s and Electric l,ig lu
Atlanta G L Co 1st g o s ...1947
Bklyn U Gas 1st cou g os.1945
Butlalo Uaa 1st g 5 s........... 1947
Columbus Gas 1st g 5 s___ 1932
Detroit Utty Gas g 6 s ..........1923
Det Gas Co cou 1st g 6s
191b
Eq G L N Y 1st cou g 6 s . . 1932
Gas A Elec BergCo c g os.1949
Or Bap G L Co 1st g 6 a ...1916
Hudson Co Gas 1st g 5 s .. 1949
Kau City (Mo) Gas 1st g 6s 1922
Kings Co El L A P g o s ...1937
Purchase money 6 s . .. .. . i 9 9 7
Ed E l l l B k u l s t c o u g 4 s l9 3 y
Lac Gas L ot St L l s t g os.elO lo
Bef and oxt 1st g 5s........1934
Milwaukee Gas L 1st 4 s . . 1927
Newark Con Gas g 6s........194b

B O S OS
N . Y. STOCK E X C H A N G E
W eek E nding J uly 8

R ange
S in c e
J a n u ary 1

I S C E L I pA N E O U S

B r ic e
F rH la u
J u ly 8




1 0 6 4 i"07*i 1064 J’ue’ lo
.......... 66
66*8 J’no’ 10

.....

.....

....

o l

W eek's
R ange or
Last Sale

.

l x x x x b

.

R an ge
I Since
o vo J a n u a ry 1

(.§-3

B id
Aslo Low
H ig h N o L ow
E v A Ind latcon g n g 6 s ..l 9 2 6 J-J 105
.........114
Oct ’00 ,
Erie A Pitts See Penn Co
Evans A T U 1st cons 6s. 1921 J-J 109
115 D eo’ 0 9 ___
1st general gold 5s..........1942 A -0
1 0 1 4 J’n e T O ___ 1 0 1
10 24
M t Vernon 1st gold O s..1923 A-O
114 A p r ’05'
Suit Co Branch 1st g 5a. 1930 A-O
95 J ’ne’03
L'argo A So See Oh M A St P'
L U n tA P ereM See Pero Mar
Fla C A Ponin See Sea Air Line
105 Mar’ 98
Fort St U D Co 1st g 4 4S.1941
Ft W A Bio Gr 1st g 4 s ... 1928
......... 85
86 M at’ 10
80
87
1 al Har A S A
See So Pac Co
Tal H A H of 18821st 5 s .l9 1 3 A -0
95*8 106
97 J’l y ’ 09
Georgia A Ala See Sea A Line
Ga Gar A Nor See Sea A Cine
Georgia Pacifio See So By
Gila V G A Nor See So Pao Co
Gouv A Oswegat See N Y Cent
Grand Bap A Ind See Penn KB
Gray’ s Pt Term See St L S W
Gt Nor—C B A Q coU tr 4s 1921 J-J
94 4
95 1180 94 4 97 4
94*s Sale
Registered.*...................... 1 9 2 1 Q-J
9 4 4 J ’l y ’ 10 . . . . 9 4 4 9 6 4
St Paul M A Man 4 s ....1 9 3 3 J -J
100
9 b ’ g J ’n e’ 10
9.3*8 100
1st consol gold 6s......... 1933 J-J 124*6 127*4 125 4 J’neTO
125 4 128*4
Kegistered................... 1933 J-J
132 A p r’09
Reduced to gold 4 4 s 1933 J-J 1 0 4 * 8 ......... 105*8 1U0*8
10 4 4 107*8
Kegistered................1933 J-J
108*4 J’uo’09
Dakota ext gold 6 s . . ..1 9 1 0 M-N 100 4
100*8 J’lio’lO
1 0 0 4 101*8
93
Mont ext 1st gold 4 s . . 1937 J-D
98 Apr TO
95 4
98 1 0 0 4
100 4 Oct ’06
Kegistered....................1937 J-D
___ 90*4 Jail T o
90
K M iuuN orD ivlst g 4s 1948 A -0
*99*4 "99*4
Minn Union 1st g O s ..1922 J-J 1124
1 1 4 4 Fub’ JO
113 1 1 4 4
124 130
129 Fob’ 10
MooutC
gugG
u iu 11st
st gu
6ss. .. ..
. . .11937
9 3 7 J-J
129 129
Kegistered....................1937 J-J
130*4 May’OO
109‘
*
a
113
4
1 13*a Apr TO
1st guar goiu 5s........1937 J-J
11341134
W ill A S F 1st gold 5s 1938 J-D 1 1 0 4 1 1 4 4 116 J ’ne’09
Greenbrier Ky S ee Clios A O
89 Apr TO
Gulf A S I 1st rot A t g 5s 61952 J-J
87 4 94*8
an A St Jo S ee O B A 14
ousatomo S ee « Y N H A H
1014
Hock Val 1st consol g 4 4 s . 1999 J-J 1004 1014 101
99*8 104
100 4 S e p ’ 08
Registered......................... 1 9 9 9 J-J
95 4 Muy’ 10
93
Col A H V 1st oxt g 4 s .. 1948 A-O
95
95 4
99*4 c o o ’09
94
Col A Tol 1st ex 4 s ....... 1955 F-A
H oust E A W T ex S e t So Pac
Houst A Tex Con S ee So Pac Co
104 J’neTO
| Uinois Central 1st g 4 s ..1951 J-J
104 105*4
107*8 Apr ’07
L Kegistered................... 1951 J-J
92 J’ne’ lO
le t gold 3 4 s .......................1961 J-J
90
92
94 Sei> ’00
Kegistered.......................1 9 5 1 J-J
9 3 4 May’ OO
Extended 1st g 3 4 s ........1951 A -0
80
J’l y ’09
1st gold3ssterlin g......... 1951.M-S
99 4
99 J’no’ 10
Coll T rust gold 4s........... 1052 A -0
99 i00*4
Registered...................... 1952 A-O
99 J’ne’09
1st rot 4 s ............................ 1 9 6 5 M-N *97 4 98 4 97 4
97 4
I)"?'" ■'99*s
L N O A Tex gold 4s . . . 1 9 5 3 M-N
99*4 May TO
06*4
08*8 100*8
Registered.......................1953 M-N
97*8 97 May’07
Cairo Bridge gold 4 s . . ..I 9 6 0 1J -D
100 A p r ’09
LouisvDlvATerm g3 48.1963 J - J
87'sM uyTO
87 4 88 4
Middle Div reg 5a........... 1 9 2 1 IF-A
123 Muy’ 99
Omaha D lv 1st g 3 s........1 9 5 1 F-A
77*4 Mar’ lh
77*4* " 7 7 *4'
St Louis D i v a term g 33.1961' J - J
79 4 D ec’ 08
Registered...................... 1 9 6 1 1J-J
89 F eb’ 10
Gold 3 4 a ........................ 1061'J -J
8 8 *4 89
1 0 1 4 Oct ’99
Registered............... 1951 J-J
89*4 100 Nov’OO
Spring Div 1st g 3 4 s . . .1961' J-J
94
98 A p r’ 10
W estern Lines 1st g 4 s ..1051 F-A
98
98
117 4M u y ’ 10
Bollev A Car 1st O s... 1923' J-D 117 4 U7 4117 4
99 Feu’ 10
Carb A Shaw 1st g 4 s . . . 1932'M-S
99
99
114*4
May’
10
Ohio St L A N O g 5 b. 1951 J-D 1 1 6 4
114*4 119
118 MarTO
Kegistered...................... 1 0 5 1 J-D 110 .
118 118
90 O c t ’09
Gold 3 4 s ..........................1051 J-D
97
4
M
ar’
10
M em phD lv 1st g 4 s .1 .1951 J-D
97 4 97 4
98 J’i y ’ 0 8
St L S o u 1st gu g 4 s ....1 9 3 1 M-S
Ind B 1A W est S e e O CO A St I.
95
95 May’ 10
00
Ind 111 A la 1st g 4 s..........I960 J - J
95
98
Int A Groat Nor I s t g O s .. 1 9 1 9 -M-N
108 4 1 0 8 4 108 4
108 4 110*4
2d gold 5s........................... lyyy'M -S >............. 110 1 1 0 May’ 10
106*4 112
Trust Co certfs....................
...... ......... 109 4 110 J’uo’ 10
10 0 *4 1 1 2 * 4
3d gold 4 s............. ............. ltm lM -S
19 4 20
1 9 4 J ’no’ 10
1 0 4 36
Iowa Central 1st gold o s ..1938' J-D 103 105
103
103
102 106*4
Gold 4 s.................................1961 M-S .......... 70
75 4 M a y ’ 10
74
77 4
al A A G K S ee L S A M S
an A Mich S ee Tol A O C
K C F t S A M . See St L A S F
K C ’ A M K A B S ee St L A S F
Kan C A Paouio S ee M K A T
Kan City Sou 1st gold 3 s . . I960 A -0
73
73
72
74
7 2 4 73
Registered..........................i9 6 0 A. G
63 Oct ’00
Bet A impt 5s Apr 1950......... 'A-O
" 0 9 \ Sal*
99 4
99*4
094103
Kentucky Cent s e e L A N
I
K e o k A D o s M o S ee O B 1A P I
Knoxville A Ohio S ee So B y 1
ake Brie A W 1st g 5 s .. 19371 J-J ......... 11 2 4 110*4 110*4
110% 112»»
2d gold 6s........................1941'J .J
......... 106 4 100 4 MarTO
106 4 107 4
109 MarTO
108 4 112
r ^,0r P 9 ^ “ l8 t 8** * 6 s .. 1045! A-O
L Sho A Mich S S e e N Y Centl
Leli Val N Y 1st gu g 4 4 8.1940 J - J
107* 105*4 J’no’ 10
105*4 1 0 8 4
107 Aug’Oi
Kegistered......................... 1 0 4 0 ' J . j
06*4 9 7 4 A p r’ 10
Lehigh Val (Pa) cons g 4 s .2003 M-N
90 4 9 7 4
113<4 114 J’neTO
Leh V Ter Ky 1st gu g 5 s .l9 4 ll A-O
IU
116*4
Kegistered......................... 1941IA-0
113*4 109 4 Oct ’99
103 Nov’OO
Leh V Coal Co 1st g u g Os. 1933' J.J 107 4
96 4 93*4 MarTO
90
Leh A N Y la t guar g 4 s . . 1946 M-S
93*4 06
Registered......................... 1045 M-S
ib‘i ' 4 F eb’ 10
K 1 0 A N 1st p t O s ........1914' A-O 102 4 ■
1014 1014
101*4 Sep ’09
Gold guar 6s..................1914'A-O
1004Leh A Hud B S ee Cent of N J
Leh A Wilkesb S e e Cent of N J
Leroy A Caney Val S ee Mo P
Lioug Dock s e e Eric
Long Isl’d—1st con g 5S.A1931 Q-J 1 1 0 4
113 Feb ’ 1 0
113 112
100*4
1st consol gold 4 s........../tl931
07*4 90 May’ 10
General gold 4 s................ 1938 ____
96
97*4
Ferry gold 4 4 s ................ 1022 M-S
96 luo
1 0 0 4 Fob To
10 04 1004
93
Gold 4 s................................ 1932 J-D
99 4 Oct ’06
94
00
Unified gold 4 s ................ 1949 M-S
9 3 4 Mar’ lO .
9 3 4 96
Debenture gold 5s............10341J-D
........ 104 4 Dec’08 .

H

K

L

U

B O N D S — C o n tin u e d 011 N e x t P a g e .

G iui and E lectric Light
N Y G B L H A P g o s ...1948 J-D
Purchase money g 4 s . . .1949 F-A
Ed El 111 1st conv- g o s ..1910 M-S
1st consol gold 5s......... 1996 J"J
ioo 1 0 0 4 101 A p r’ 10
i o i i o i 3 N Y A Q E IE A P lstcon gosl93U F-A
97 .......... 06*8 Sep 'Ob
N Y * Rich Gas 1st g 6s. 1921 M-N,
1 0 1 4 J’neTO
1014 1 0 5 4 Pat A Pas G A K con g 5s. 1949 M-S
0 1 4 Oct ’01
Peo Gas A C 1st con g Os.1943 A-O
Refunding gold 5s........... 1947 M-S
1 0 1 4 ......... 102 4 J’no'10
103 4 108*4
ChG -L A Cko ls tg u g o s 1937 J-J
97 MarTO
97
97
Con G Co of Cli 1st g u g Os.’36 J-D
100
101 J’no '1 0
(00 101
In d N atG as A 0 i l3 0 -y r 5 s ’3(i M-N
111 J’no’ 10
1U 4113
1104 116
Mu Fuel Gas ls t g u g o s . 1947 M-N
90 Mar’ 10
......... 90
8 7 4 90
Philadelphia Co conv 6s ..1 9 1 9 F-A
1 0 1 4 J’neTO
101 103
1004105
Syracuse Lighting 1st g o s .’51 J-D
100
1U0 T i 99*4 101
90 100
Trenton G A El 1st g 5 s ..l 9 4 ‘J M-b
90*(i 91 A p r ’ 10
91
92 4 Union Elec L A P I s tg O s .1932 M-S
......... 108*t
Westchester Liglit’ g g 5s.1950 J-D
* N o price Friday; latest bid and asked this week, a Due Jan b Due Fab cl Due Apr •eDuo May h Dae J'ly h

J-D
M-N
A-O
J -J
J-J
F-A
M-S
J-I)
F-A
M-N
A -0
A -0
A-O
J-J
Q-F
A -0
M-N
J-D

£V

1 0 5 4 107*4
64
67

100 4 Sals
82 Sale
110

♦94
115
103

....
....

Sale
984
1104
102 4
104 4
103
90

100

1004

82

83
F eb’ lo
no
1 0 0 4 Mar’ 1 0
97 4 J’ly ’ 0 0
104*4 Nov’05
1 1 8 4 MarTO
1 0 2 4 Mny’ l )
103 4 1Tie’ ll
101 4 M a y ’ 10
U4 Hi Aug*0U
101 M iu ’ 1 0
102 4 Apr’ 10
100
Mur’ io
110 May’05
00 Jan ’08
100 J’ne’ lo
100
110

1014
"o s '
LOI
96
........ ............
Dae Au* g Dae Deo

T-- ■

100
82

1034
87

100

1004

110

11 14

10 0 4 101*4
118 119
102 4 1 0 4
102*8 1 0 4 4
10 0 4 102
l o i ” i'o'i**
102 105
IU0 100
100

100

3 Option Sale

Hew York Bond Record—-Continued— Page

J u l y 9 1910.1
BONDS
N . Y . STOCK E X C H A N G E
WttBK ENDINI. JULY 8

"i*.0
at S

1

W eek 's
R a n g e or
L a st b a l e

P r ic e
F r id a y
J u ly 8

IS-ss1 R a n g e
i o o 1 S in c e
p 5® J a n u a r y 1

68

P r ic e
F r id a y
J u ly 8

W eeV s
R an ge or
L a st S a le

2 -3

R ange
S in c e
J a n u a ry 1

N Y Cent A H R— ( C o n )
alich Ceut coll g 3 4 s . . . .1098 I
Registered.......................1098 I
05
Beech Creek 1st gu g 4s. 193G «
Registered.......................1930 .
105 .
2d gu gold 6a................. 1030 844.
Beech Cr E xt Is tg 3 4 s 61051 {
0 7 4 A p r’ 09 . . . .
Cart A Ad 1st gu g 4 s . .. 1081 «
Gouv A Oawe 1st gu g 5s 1042 .
Moh A Mai 1st gu g 4 a ..1901 ?
N J Juno ft gu la t 4 a ...1 9 8 6 I
..| 0 3 4 03 4
934
N Y A Harlem g 3 4 s . . .2000 M-N
N Y A North 1st g 5 a ...1927 ■A-r'
6 1’ b e v ’ *084
05V .
N Y A Pu la t con ga g4a 1993 A
Nor A Mont l a t g u g 5 s .1916 t
. 1 3 1 4 Jan’ 60
Pine Creek reg guar 6s. 1032 J
2 1 0 7 110
107
107
ft VVA Ocon l8 te x t5 s .A 1 0 2 2 A
lo5 J an ’ 08
Oavre A It 2d gu g 5a ...«1 9 1 5 I
iibT* i u T '
*
104
J’
ue’
lU
ft W A O T R 1st gu g 58.1918 *
102 4 F cb'lU ... 1 0 1 V 1 0 2 4
Rutland lat con g 4 4 s . . 1941 J
804M ayT O ... I 8 6 4 0 1 4
OgALCham la tg u 4 s g l0 4 8 »
02 J'ue’ UO
Uut-Canad la t gu g 4 s . 1040 .
, 115 J’ne’OO
at Law A Adlr 1st g 5s. 1006 .
, 125 F e b ’08
2d gold 6s........................1996 i
100 1
. 102 Apr Ti,
Utica A Blk R lv g u g 4 s .l9 2 2 *
00
9 0 4 J’ne’ 10
Lake Shore gold 3 4 s ___ 1007 «
88
88 J’ne’ 10
Registered...................1097 <
024
02V
93
Debenture g 4 s ............. 1028 J
02
02
02 4
26-year g 4 s .................v1931 A
Ka A A G ft ls t g u o 5 3 .1 0 3 8 »
.
100*’
Oct’’07
Mahon OT R K 1st 6 s ..1034! J-J
. 100 D eo’09
Pitta A L Erie 2d g 6 9 .a l0 2 8 A -0
. 1 3 0 4 J a n ’ 00
Pitta M cK A V 1st gu 6 s .1932 T *
2d guards........................ 1934
M cKees A B V la t g O s 1918
1004 .
Mich Cent 68.......................1981
1084Registered................... 1931
90
4s.........................................1940
98V
Registered................... 1940
J L A S 1st g 3 4 a ........ 1051
87
87 4 89 4
1 st g 3 4 s ........................ 1 0 6 2
9 0 4 J’ue’ 10
904
91
20-year deb 4a.............1 0 2 0
Bat U A Stur 1st gu g 3a. 1980
97 4 1 0 0 4
90
07 4
N Y Chic A St L lat g 4a 1037
Registered.......................1037
Debentures 4 s ............... 1931
W est ahore 1st 4a g u ...2361
Registered.......................2361
> Y A Greenw Lake S ee Erie
r Y A Har N ee N Y 0 A Hud
N Y Lack A W N ee D L A W
N Y L E A W Nee Erie
N Y A Long Br S ee Cent of N J
132 bale
N Y N H A H -C o n v 6 s ..1948
97 8a io
Conv deben 3 4 s .............. I960
112
Housatonio R con g 6a .. 1937
100V .
N H A Derby con cy 6a.l918
N Y A North Nee N Y C A H
96V
964
N Y O A W ref l s t g 4 s ..p l9 9 2
Regis $6,000 only......... 0J992
N Y A Put N ee N Y O A H
N Y A R B Nee i^ong Island
N Y » A W S ee Erie
N Y Tex A M S ee 8 0 Pao Co
1014
. 101 May’ 10 .
Nor A South la t g 6a......... 194 _
,jl 2 6 4 J’ne’ 10 .
1264
Norf A W est gen g 6a........1031
Mar’
lO
1
2
2
4
1
2
6
4
126
Im provem't A e x tg 6 s ..1034
May’ lU
120
New Rlvor l s t g 6 S ........1932
1 0 : 98
100
08
98
99
N A W Ry lat con g 4s. 1996
97
97
A p r’ 10
Registered.......................1^96
91
034
0 1 4 bale
91V
D iv’l lat 1A gen g 4 s ...l 0 4 4
9841084
90 4
09 4 Sale
10-26 year conv 4 a .... 1932
88
90 4
88
88
Sale
Pocah C A C Joint 48..1 941
1 0 4 V 106
A p r’ 10
1 0 4 4 .—
9 C
C«%
gu
6 s.........
s . . . . . . JJ0 J2
C
A T 1st g
ag 5
J’ne’ 10
96
964
9 2 4 .—
8 0 1 0 V A N E la t g u g 4 s I
North Illinois See Chi A N W
North Ohio See L Erie A W
99V 102V
1 0 0 4 Sale
Nor Pao—Prior lien g 4 s ..1997
99 101
Registered.......................1997
**70V Sale*
General lien gold 3 s .. . .a2047
R egistered...................a2047
8 t Paul-Dul D lv g 4 s . . ..1 0 0 6
90
D u lb h o r tL Is tg u 6 s .. 1916
C B A <4 colltr4s tfeeGtNor
.,1 1 5 4 1 1 8 4
1 1 6 4 J'ne’ 10
1134120
B t P A N P gen g 6 s ....1 0 2 3
. 1 1 7 4 117 F eb’ lO . . . . ’1117 117
Registered cortliio's..l923
L10
J’ne’ 10 . .. .I l l O
105 ....... 110
St Paul A Dul 1st 6 s ....103 1
103 V M arlO . J 103V 103V
2 d 5 s ................................. 1017
9 6 4 Apr TO . . . j 9 6 4 0 7 4
96
1st consol gold 4 s......... 1068
92 4 J a u ’OO
80
W ash Cent 1st g 4 a ......... 1048
113 D ec’ 09
110
Nor Pao Ter Co 1st g 6 s ..1033
N or Ry Cat See So Pao
Nor Win t f « « C S t P M A O
N or A Mont See N Y Cent
iud A W S ee U 0 C A St L
hio R iv HR Nee Balt A O
Ore A Cat Nee So Pao Co
Ore Short Lino Nee Un Pao
Oswego A Rome S ee N Y U
L)ac Coast Co 1st g 6 s . . . , 1046 J-D 1 0 2 4 1 044 lO it jJ ’ne’ lD1 . . . 1 0 2 4
X a c o l Missouri S ee Mo Pao
102 1 0 3 4
103 llO'J J’no'll)'
Penn
R R 1st real est g 4s. 1023 M-N
1
0
7
4
1
1
0
4
1074 1 074
......
1 0 0 4 Jan ’00
Consol gold 5s...................1010 M-S
1084110
109 4 J’noTO
1015
L<J6 i t o -i o : T . 100
Consol gou l4 s.................. 1043 rA-N 14WV
1 1 9 4 May'07
1 09
00 | 12 00 102
00
M-N
98V
Convertible
g
3
4
»
...........
1012
117 4 M a r ’05
07
05
4
1
95
4
05
4
L80
Sale
J-D
05
4
Convertible g 3 4 8 ........... 1015
113 J’l y ’04
10 iv
Consol gold 4 s ................ 1048 M N 1034 Sale 103-6 103>,; 12 102 102
V
102V A pr’ 10 . . . 102V
M-S
Alleg
Vai
gen
gu
g
4S...1U12
984
9*14 40 93V 9 5 4
...... ......
06
D R R R A Bge 1st gu 4s g .’30 F-A
8 8 4 92
§ 9 4 J’ ne’ lO .
......... .........
103 4 Dec ’U9
PhUaBai A W 1 st g 4 s ..l 0 l3 M-N
1 0 1 4 102
1024 M ar’ 10 .
......
102 J a u ’03
8od Bay A So 1st g 5 s ... 1024 J-J 100
82
86
8 4 4 J ’a «’ 10
i '0 3 4 104
103 4 May T 0
U N J RR A Can gcu 43.10-14 M-S 1 0 IV
103 V
103 VI 2 103 106
Penn Co—Guar l s t g 4 4 s . 1021 J-J 103
103V F e b ’ 10 ___ 103 V 103 V
Registered......................1021 J-J
8 8 4 90 1 0 0 4 J’ no’OO
G uri 3 4 a coll trust reg. 1037 M-S
87V
87V 86 87V 02
014
1
F-A
89
'
80 V
89 V
Guar
3
4
s
coll
tr
ser
B
...1
0
4
1
90
87 4
87 4 J’ne’ i o .
1 06 ‘a
0 6 4 0 6 4 May TO
Tr Co certil’s gu g 3 4 s . 1016 M-N
05 .
02
02
92 V
00
90 i 0 0 Jan T o . . . . I 00
J -D
Gu
3
4
s
tr
ctls
O...............1912
8
2
4
7
0
4
704
804
Gu 3 4a tr ctfs D ...............10441 J-D u____ 04 i 01 Deo’OO
784 804
79 J'ne’ 10
H ig h

Ho

Loxo

H ig h

BUt
A sh
LonK Island— ( C o n )
06
‘2 | 0 4 4 100
05
97
Guar ref gold 4a................1949 M-S
Bklyn A Mont 1st g 6 s ..1911 M-S
..... . . .. . .
l s t 6 s ................................. 1911 M-8
. . . . I ....................
N Y B A M B 1 st con gfis 193b A-O 1 024 .........
1 0 0 V ..........105 Ap r ’0 7. . .. 'I.
N Y & K B 1st g os........1937 M-S 100 4 ..........100 Nov’ OO------ I
N or SUB let cou g g u 5 so l9 3 2 Q-J
___ 9 3 V 97 N ov’OO
.....................
Louisiana A Ark 1st g 58.1927 M-S
113 113
113
i ;’l l 2 4 1 1 6 34
J-D *
Louisv A Nasliv gen g 6s. 1930 M-N
* 1 0 9 4 ..........114 A p r’ 10
....',1 1 4 114
Gold 5a................................. 1967
0 7 4 Sale I 9CV
9 7 4 27 | 0 6 4 1 0 0 4
J-J
Unitlert gold 4s................
................. 100 Mny’09
. . . . ' ........
Registered......................1J4 J.J
................. 1 0 0 4 D ec’00
. . . . ! ! ........
A -0
Sink hind gold 6s............. IjJJy M.N 107 ......... 11084 .T’no’ 10 ....| jlu 7V 1 1 0
Coll trust gold 5 s . . . ........ 19*’ 1 J-D 1 1 2
..........' 1 1 1 4 J ’u e ' 1 0 . . . . 1. 11 4 1 U 4
E 11 A Nasli 1st g 6 8 ...-1 9 1 9
106
p r’ 10 . . . J im
L Cln A Lex gold 4 4 8 . ..1931 M-N 1034 106 1103 A
126 4
Mar’ 10
i 24 V 12 4 ..............
N O * M 1st gold o s ....1 6 3 d J.J 11 0
120 J a u ’09
N O A M ‘2d gold 6 a .....1 9 8 0 J-J 1 1 7 4 .......
107 V 11 0 4
1 074 Mar’ 10
Pensacola Dlv gold 6 s ... 1020 M-S 105 4 n o
11 4 11 4
J’ ue’ 10
St L Div 1st gold 6s........1921 M-S 113 ___ 114 May'00
71
75
2d gold 3s......... . . . . . . . . 1 9 8 0 M-S
May TO .... 93 4 95 4
01
01
M-N
A tl Knox A Cm dlY 48..1 065
116
Atl Knox * Nor 1at g 681046 J-D
no
Render Bilge 1st a f g 6 a .1931 M-S 1 0 4 4 . . .
07
07.......08
4
J-J
Kentucky Cent gold 4s. .1087
104 105 4
LAN A .'1 A M 1 stg 4 4 8 1945 M-S ......... 106 41104 May 10
02
00 4 0 1 4 ......................
L A N-South M Joint48.1052 J-J
109 1 1 1
100
103
.........
F-A
N Fla A W 1st gu g 5 s . . .1937
08 .........
N A C B d g e g e n g u g 4 4 s 1945 J-J
1 1 0 4 Mar’ 10
110 4 1 1 0 4
Pens A A tl 1st gu g 6 a .. 1921 F-A 1 1 0 4 ......... H I
110 114
Miu TO
S A N Ala con gu g 5 s.. 1036 F-A . . . . . .
bU 4 89 4
80 4 Mny’ 10 II”
L A J elt Bdge Co gu g 4 a .. 1045 M-S
L N A A Cli S e e 0 i A L
alum Coal Sea L 8 A M 8
984
9 3 4 94
9, 04
anhattau Uy consol 4 s. 1900 A -0
Registered................... 1000 A -0
35, 95
09 V
Sale
05
Stmpd tax exem pt.. 1090 A -0
M cK'pt A B V Nee N Y Cent
06V 0 8 4
9 8 4 98V
J-J
Mox Cent cons g 4s........... 1911
:::: 2 7 4 3 1 V
1st cons mo g 3s.........al030 J’ ly
2d cons ino g 3s trust roots..
” 75
77~
**7*6*'
M-S
ilex Intornutlatcon g 4 s .107 <
8 tamped guaranteed... .1077 M-S 100 4 ; . ! ! ! . 1
ioo io o
ile x North 1st gold o s ....191 0
Midi Cent Nee N Y Ceut
Mid of N J N ee Erie
Mil L b i , W b e e Ohio * N VV
MU * JNortli b e e Oh M A St.X
.... 13 1 13 1
J-D 129
Minn A St 1. lat gol<.
L...
107 ......... i
PaoiUo E x lotgohl (1H...1W1 A -0 1 0 0 4
1 0 0 4 J’u e T u j....1
4101
J-D
South W est Ex la t ff 7 8-iy in
106 1
J 0 4 4 .T’ neTO . . . . 101 100
lat consol koHI 6a . . . . . . IJ)J4 M-N
00 V 75 May’ 1 0 . . . .
814
M-8
1 st and rotund koM 4 a ..l«4 (i
87 MurTO1. . . .
83
014
Dea M A Ft 1) lat «u 4S...M6 J-J; 73
M l n u A S t E g u b e e l i O lt A jv
08 J’ noTO .
93 100
100
98
J
.J
M StP A S S 41 con K 4 int gu MS
0 8 4 Jan To].
9 8 4 0 84
97
M a S .11 A A 1st K 4 int gu m u J-J
Minn Uu b e e St P M A M
00 4 1 0 0
074'
0
7
4
Sale
0
6
4
J-D
Mo Kan A Tex lat g 4 s ...1 9 9 0
82
874
82 V
83
82 V
82
2d gbhl 4s.......................... pi.990 F-A
101 105
1014
103 ;
101
M-N
1st ext gold 68.................. 1044
8 1 4 854
8 1 *4 8 2 J'no’ 10
M-S
lat A refund 4s................. 2004
814
35 I 12 8 4 4 9 0 4
8 4 4 85
Gen s t 4 4a ..................... 1936 J-J
85 4 88 A p r’ 09
8t L Div 1st ref g 4 s ....2 0 0 1 A -0
lO
G
J’
uoT 0 . . . J
105
102
..........:
Dal A Wtt 1st gu g 5 a . . .1940 M-N
934
02 4 02 A p r ’ 1 0 ----Kan C A Pao 1st g 4 s . . . 1990 F-A
108 113
109
:L08 J'ne’ '0
106
A
O
Mo K A R 1st gu g 6 a ...1942
101
107
V
103
1
0
4
4
M K A Ok lat gu 5a........1042 M-N
1U0 4 105 4
104 V
M. K A T o t T latgugG a.1942 M-8 162 4 100
J-D
Slier all A bo lat gu g 5a. 1043
105 *106*4
...
103 4
Tex A Okla la t g u g o s ...l9 4 d M-S
1084U 1
108»,
Mo Pacillc lat con g 6a ...1 9 2 0 M-N
IKlS to u 't l 1 100 4 1 0 2 4
100
W
l
’
»
M-S
Truat gold 6a stamped .a 1917
9 6 V 09V
10UV t)U*u Mar’ 101. ..,
R egistered...................al917 M-8
I0u
1U01*
I 100 102V
1st coll gold 6s...................1920 F-A 100 4 1 9
7 7 1 ^ J’ no‘ 1 0 . . .
77 4 8 1 4
M-S
7
7
4
40-year gold loan 4a........104o
6s«, i w o u
3d 7s extd at 4 % ................1938 M-N
96
00
18
1)5
»1
II
8
lat A ref conr 5s lull pa. 1960
95
04
9 4 4 Mat’ 10 .
Cent Br Ry 1st gu g 48.1919 »*
86
87 4
8 Y 4 M a y ’ 1 0 !....
Cen Branch U F la tg 4 H .l9 4 b J
110 M ar'061....
J-J
Leroy A C V A L i s t g 6a 1926
i
b
ov
Ub”
99
May’
l
O
.
.
.
.
pao R of Mo lat ex g 4a. 1038 F-A
113
1 Y3
F eb’ i O '....
2d extended gold os. ..1038 J-J . . . . . . i n
no
1 0 6 4 1 0 0 V 12|
1
0
^
1
0
7
A-O
8t L Ir M A agen cou g 6sl031
111 S e p '00
Gen con stamp gtdg 5a 1031 A-o;
2
86
3
84 I
81 Sa ia
Unlllcd A ref gold 4 ij. . 1020 J-Jl
.4
874
a
i
h
i
_4 4
M-N
R1V A G D lv lat g 4 s .. 1033
1 0 2 4 102 4
1 0 2 4 Jan TO!
Verdi V 1 A VV lat g 6a.1026 M-S!
98 p o c ’ U O ....
Mob J A K C lat cons g 6 s .1053 j - j ;
1 7 4 May’ 101. . .
Mob A Gliio new gold 6a..1027 J-D 1*1*64 i \ 7 ** 17 4 Mar’ lO . . . *1174 1 2 1 4
1174117 4
no
114 4
latextouaion gold 6 a ../il9 27
87
00
87 May TO . . .
87
854
General gold 4s................ 1038
100 1 084 Mai T O ___ 1 0 8 4 1 0 8
MontgomlMv I s t g 6 s ..lt f 4 < F-A1
75 Muy’081..
at L A Cuiro coll g 4a..<?1036 :-F
90
J ne’ 1 0 . .
06
00
06
Guaranteed g 4 a . . . . . . . 1031 t

.....

BON DS
N . Y . STOCK E X C H A N G E
W ere endino J uly 8

00

M

100

Bi'ilfe

Sift:::

tig

u

N

.

lU

Coni nnd Iron
Bull A Susq Iron 8 1 6 s . . ..198 2 J-D
Debenture 5a................ a 1926 M-S
O0 1 1 ' Jo 1 Co gon 8 I g 5 a.. 1943 F-A
Convertible dob g 6 s . . ..1911 F-A
Col InClu 1st A coll 5s g u ..l9 3 4 F-A
Contlu’ tal 0 1 st s r gu 6s g. 195 A
Gr Riv Coal A C lat g 0a..1910
Jell A Clear C A l la t g 58.192*1 J-D
Kan A H O A O lat a f g5a.lU6l J-J
pocah Con Collier lata f 5s.’ 57 J-J
Sunday Creoic Co g 6 s . . ..104 4 J-J
J.J
Tonn Coal gen 6a............1051
Tenn D iv le t g Ws.......al017 A -0
Blrm D lv 1st conaol 6 s .. 1017 J-J
Cali C M Co 1st gu g 6a. 1022 J-D
De Bar U A 1 Co gu g 6s. 1016 F-A
Viot'or Fuel 1st s I 5 b ......... 1053 J.J
V alron Coal A C o ls t g 5s. 1040 M- 8

II

|

8 7 ^ 1 u8
. . . . . . 07
......... 76
OS

160

0 0 >4 1 0 1

81

84t,

i o i i i ib j* i
1 0 2 ^ ...........
1 0 2 s , ...........

luU

...

88
05 >.

I S C E L L , 4.N K O U S U O N U .- 5—C o n tin u e d o n N e x t l» o g e

0 9 4 N ov’ « 9
94 Deo’ 08
974
97 4
!
«
10
107V D ec’ 04
102 V A p r’06
107 May’97
l0 5 4 D .e c ’06
3 J{n*TQ
3 F eb’07
102
J’ne’ 1 0
1 0 3 4 J’ne’ 10
101 J’ ly ’ U
110 J a n ’O'j
LOO Jan TO
87 Aug’ U9
96 J’ ue’ 10

* N o price Friday? latoat bid and asked. a D u e J a n




O

00
0

M A O coll 4a Nee Southern
Mohawk A Mai N eel* i L A l i
Mouongahela Riv Nee B A O
Mont Cent Nee a t P M A M
Morgan's La A T Nee a P Co
Morris A Essex &e«DolLA\N
aah Chut A a t L 1 st 7a. 1913 J-J 1 0 7 4 ••
la t consol gold 6a..........132c A -0 1 0 3 4 1 104
Jaapftt Branch 1st g 6 s ..1923 J-J 1 1 6 4 M o l l M W A A1 lat Os..1917 J-J 109 . .
T A P Branch lat U s....1 0 1 7 J.J 100 . .
Nash Flor A .Sliet N ee L A N
93V 9 4 4
N at Rys of M exp r 14 4 s 1057 J .J
80 V 0 0 4
Guar gon 4 s ..„ * ................ 1077 A O
Nat of Mox prior lien 44 8 .1 0 2 6 J .J
83
lat conaol 4 s . . . . , ..............1961 A-O
Now H A 1) N ee N Y N l l A U
N J J u u o K R Nee N Y Cent
N Y Bkln A Man Bch S ee L J
87 V Sals
N Y Cent A II R iv g 3 4 s , 1907 J .J
Registered.......................1007 J-J ......... 8 7 4
92
924
Debeu g 4 s.........................1034 M-N
8 0 4 •*!«
Lake aiior6 coll g 3 4 a .. . 1006 F-A
Registered.......................1008 F -A 1 . . . . . . so

bD u e Fob

iH a n n f n c t n r ln ir Sc- In d u s t r ia l
77
J -J
7 6 4 Sale
75V
Allis-Chalmers lat 5s........
A m A g Uhsm 1st o 5a........1928 A-O 100 1 0 2 4 1 0 0 4 100 4
06
OS
F
00
97 4 07 j ’neTo
Am
Cot
Oil
e
x
t
4
4
»
............
1915
03
O6 H1
96 V
S
»7
064
75
82 >4 Am Hide A L 1st s t g 6 s ..1919 A -0
72 V
72
72 Sale
Amer Ice Secur deb g 6 s .. 1925
04 May’ 10
0 4 4 08
Am Spirits M fg la t g 0 s ..1916 M-S
to**. 91 J’neTo
Am Tnroad 1st col tr 4 s ..1919 J.J
Ain Tobacco 49-yr g 6 S ....1 9 4 4 A -0 1 0 4 4 Sale iU it, 105
78V
78
Sale
F-A
...............................................1951
73V
'83** * 8 3 “
86 V
85 4
deth Stool lat ext at 5 a ..l9 2 t J-J
85 V Sale
99
Sale
A -0
<»7».
0
8
4
;ent
Leather
20-year
g
58.1926
i*o*r i*04 4
79 May TO
Consol Tobacco g 4s........... 1951 F-A
1034 107
06 V 94 V Apr TO
94
Corn Prod Ref a f g 5s — 1931 M-N
104 107
04 4 J’ noTO
M-N
04V
9
4
4
1 st 25-year af 6s................1934
69
68
09
65
natil bee Cor conv lat g 6 s .’27 A O
too 10 0
8 5 4 J’ne’ 10
87
E I duPont Powder 4 4 s .. 1936 J-D

84V
48 75
05 100 103
06
08
1( 9 0 4 1 0 2
3 70
734
.... 04 96
00
934
*18 L04 4 109
141 7 6 4 8 6 4
85 4 80V
li
9i 97 V 102
.... 7 6 4 8 3 4
.... 94 97
03V 9 3 4
67 4 7 4 4
'll
.... 8 5 4 8 8 4

" 9 4 * 4 io o *
j 'b u o M . T ffD n »7 ^ 0 ~ h ~ D u e .J 'lT i E u s A u *

o D u o O ct

o D as K

ot

« D u » boo

I F lat.

New York Bond Eecord — Concluded-Page

84
BONUS
N . y . STOCK E X C H A N G E
w k k k E sp in o J u ly 8

P r ic e
h i

F r i 'l a v
J u ly 8

W eek?*
R ange or
L a s t S a le

1

R ange
Since
J a n u a ry 1

tlul
/ten Low
P e n n s y lv a n ia C o—(C o n )
A’ O JjOw Hxqti
G uar 15-25 year g 4 s . . . .1931 A O ......... 08*4 90*4
9 6 T 99
Cl A M ar la t g u g 4*28..1 0 3 5 M-N 1 0 *
110
1” " " " " "
C I A P gen gu g4 *2 s s er A . ’43 J -J 103*2 . . . .
Jan
MO
110 *4
S eries 15............................ 1042 A-O 103 4 . . . .
109*4 J ’l y ’ OO
S eries C 3 Has................... 1048 M-N
00 . . . .
9(5 A u g ’ 09
S e n e s O SS js ................... 1050 F-A
00 . . . .
90 5 I a y 0 8
00
....
E rie A P i t t s g u g 3*28 15.1040'J j
92 A p r ’ 07
00
....
S eries C ...........................104 0'J - J
9S34 A p r ’ 04
.............
G r 4 i & i ex 1st g u g 4 >23 1041 J -J *105*2 10(5 104 *2 O ct ’ 00
P itts i 't \V& C 1 s t 7 s . . .1 0 1 2 J - J 105*4 . . . . 105*4
105
i 105*4 106
2 0 7 s ..................................1 0 1 2 U .J
105 * 4 ___
105*4 J ’ llO’ 10 .... 105l4 1057g
107 O ct ’08
a»l 7 s ...............................A1912 A -0 104*4 . . . .
Pitts 5 A Ash 1st coil 5 s .1027 M-N 108 . . . .
109 Atay’ 10
109 109
107*8 J a n ’ 10
P C C & St L 2114*38 A . . . 1940 A-O ......... 107
107*8 107*8
S eries 15 g u a r................. 1042 A-O ......... 104*2 106*2 A p r ’ 10
106*2 107a4
S eries C e u a r................. 104t^M-N ......... 10(5
112*2 J ’ n e’05
s e r ie s l) 4 s gu ar........... 1045 -M-N ......... 08
98 M a r’ 10
98
98
04
04 Sale
S e n e s K 363 gpar g ___ 1940 F-A
” ‘i 94
94
94
S eries F 4s g u a r ......... 1053 J -D
1117&J ’n e ’ 10
C St 1. A P 1st cun g 5 s . 1032 A -O 1l l 7s ■
ills , 112
Pensacola A A ti bee L A Nash
Peo A Fast See C C C A St L
112 F e b ’ 10
Peo A Pelt Un 1st g (is___ 1021
112 112
10 0 34 D e c ’ 06 .III
2 « void 4 *2 S.......................61021
0 0 *2 1 0 0
75*2 75*2 A i i r ’ 10
P ere Alarquette—l ie f 4 s .. :0 5 5 j - j
75 4 " 7 9 "
Cli A W M 6 s ..................... 1021 J-D 1 0 0 1 0 1 ? 6 101 *4 M a r’ I u l l l l I 101*4 102*4
F lin t A P i t g Os................ 1020 A -O 107
i o i 78 105 D e c ’ u.-I
1st con sol gold 5 s ......... 1030 M-N
1 0 3 " |105 A p r ’ i o i . . : : 105 106
P t H u ron D iv 1st g 6 s . 1030 a - o ;
Sag Tua A 11 l s t g u g 4 s . 1031 F-A
Pint 15 A W See P en n HU
89*2
P h ilip pin e B y lat 3 0 - y r s I 4 s ’ 37 J - J
88
90
P itts Cm A s t 1. See Penn Co
P itts C love A T o l See 15 A O
P itts Ft \Y A Cli See P en n Co
Pitts M cK ees A Y See N Y c e n
......... 114*2 112 M ay’ 10
P itts Sli A L E 1st g 6 s . ..1 0 4 0 A O
93 7e J 'ly ’ 9 /
1st con sol gold 5 s ..............1043 J - J
P itts A W est s e e 15 A o
07 **» Sale
97*4
97
eading Co gen g 4 s ........1907
'9 7 100
97:V A p r '10
B eg istered ....................... 1007
97*2 9 ? 34
96
05*2 07*2 06
j e r s e y C out coll g 4 s . . .1051
96
97
Beusaem er a Sar See D A H
Blcli A Dan .see South ity
Bicli A 31eck See Southern
B io Ur W est See Hen A B io Gr
B och A P itts See 15 11 A P
Borne W at A O g See N Y Cent
B utlanu s e e N Y C ent
ag T u s A H See P ere M arq
89
80 J ’ n e’ 10
t J o A U r Isl 1st g 4 s . . .1047 J-J
89
94
St L A C a u o See 51o0 A Ohio
St L A Irou M ou n t s e e A1 P
St L 51 iir See T B it A of St L
120 A p r ’ 10
8 t L o u is A a F — J e n g Os. 1031
J
120 124
106 J 'u e ’ l
G eneral gold 6 s .................1031
J 104 *2 .
TOO 10834
UO M ar’ 10
88
St L A S F B it con s g 4 s ..'0 0 J - J '
90
91*2
85*2 Sale
G en 1 5 -2 0 y r 5s ...........1027 M-N
80 *2
SO
85*2 90
00
100*4 A p r ’ 10
HotJtli w D iv 1st g 6 s ..1047 A-O
1 0 0 *4 1 0 0 * 4
70*2 SO
79
80
B elu n d m g g 4 s ..............1051 J - J
79
86
114 M ay’ 10
116
K C F t S A 5i c o n g O s..10 2 8 M-N
114 117*2
7V3<
78*2
K C F t a A 51 B y rot g 4s 1030 A-O "78*4 Sale
77*2 82*4
100*4 D e c-o n
06
K C A M It A 15 l s t g u 5s. 1020 A-O
96*4 J ’ n e ’ 10
0(5*4
O z’ rk A Ch C l s t g u 5 s g.1013 A -O
”96*4 ' I T
St L ou is So See Illin o is Cent
90
90
91
■St L S W 1st g 4s lid c tts.1 9 3 9 M-N
8 8 * 4 93**8
«1*4 J ’n o lO
80
2d g 4s u ic bond c t f s . .. p l 0 8 0 J - J
80*2 82
7 6 34 7(i34 J ’n e ’ 10
Oouspl g old 4 s................... 1032 J-D
76
79
101*8 A p r ’07
G ra y’ s P t X e r l a t g u g S a 1047 J -D
St P aul A Dul See N o r Pacific
S t P M in n A M an See G t N o r
a t P A N or P a c See N o r Pao
3 t P A s ’ x City s e e C St P 51 AO
1 8 A A A P a ss l s t g u g 4 s . .. 1043
85*2 1 2 S4*»4 88*4
8 5 L 85*4
104 O ct ’ 09
8 F’ A N P 1st sin k t g o s . 1919
0 8 *2 .
: 6 a v F A W est See A t l Coast L
S cioto Vai A N E See N or A W
82 * 2 ......... S 3 ig J ’n e ’ 10
Seaboard A ir L in e g 4s ...1 0 5 0
83*e 8 6
99*4 09*a 99*4
99**8
C oll tr rotund g 5 s ......... l o l l
99*4 1 0 0 *s
72
sa le
72
73
A d ju s tm e n t 5 s ................o l0 4 9
70*4 75*4
79
82
80 J ’ u e’ 10
AU -i5irin 3U -yrist g 4 s .e l0 3 3
80
87
85
03
0
1
*
2
Mai
TO
Car C en t 1st con g 4 s . ..1 0 4 0
91
91*2
lo o
......... 1 0 3 A p r TO
Fla Cen A P en 1st g 6 s .1018
103 103
10 0
......... ........... ...............
1st land gr e x t g os . ..1 0 3 0
10 0
......... T ou 34 M ay ’ 1 0 . . . 100*4 1 0 0 \
C on sol gold o s ................1043
10 0
......... T O l *2 M arTO
Ga A A la B y l s t c o n 5SO1045
104 104*2
101 106
1U4
*04
G a Car A N o l s t g u g os 1020
104 104
106 A p v ’ 10
S eab A B oa 1st 5 s ............102(5
106 106
Sher s h r A So See M K. A T
811 Sp e c u A U See A t l Coast L
Sou th ern P acitio Co—
G old 4 s tCeut Pac c o ll)./c l0 4 9 J -D
89*2
yo
89 *s 95
90
90
B e g is t e r e d ................... fcl940 J -D
86
90
9 0 13
9734
20-year c o u v 4 s ......... </1920 M-S
96 106*4
94 *2
yti*4 |
Cent P a c 1st rel gu g 4s 1040 F-A
94*2 97*4
97
FeO ’ lO
B e g is te r e d ....................... 1 0 4 0 F-A
97
97
08 J ’ ne’ lo!
M ort gu ar g old 3 *2 3 . . Icl020 J -D
88
89 L,
92
J ’n o'lO
T h rou g h St L 1st g u 4s *54 A-O
91*8 94
106 *2 M uy’ 10 ----- 106*2 106*2
G H A S A M A P 1st 5 s .. 1931 M-N
..........104*4 » o p ’ 09|.
G ila V G A N l s t g u g 6 s . 1024 M-N
10434!l05*4 **ay’O0 .
H ou s K A W T 1st g 6s. 1033 M-N
10534 ll0 6 J 'n e ’ 10 .
1st gu ar 5s re d ............ 1033 M-N
106 105*8
‘
110 *2 J ’ o e T 0 .
H A 1 C 1st g 5s in t g u .. 1937 J - J
109*2 110*2
109 6 ,N o v ’ t)9 .
C on sol g (5s iut g u a r ...1 0 1 2 A-O
G eu gold 4s iu t g u a r ..1021 A-O
94*4 Apr T o .
,'t 94
98*4
W a c o A N W d i v l s t g i 5 s ’ 30 Yl-N
U 9 *4 M a t’ l d . . 119*4 119*4
107*2 J**n 0 0
A A N W 1st g u g o s . ...1 0 1 1 J - J
M o rg a n ’ s La A T 1st 7 s . 1018 A o
122 *s -AUg’ 08 .
1st goltl (5s............................... 1020 J -J
H O N o v ’ OO .
N o ot Cal guar g o s .......... 1038 A-O
112
F e b ’07 .
O re A Cal 1st gu a r g o s . 1027 J •J 1 U0
100 J’n o ’ 1 0 .
10 0
10 0
S o P ao of Cal—Os K A F .1012 A-O 100*4
1 0 1 * 2 J ’n e’ 0 8 1.
100*4
1st gold (5s.................................1012 A-O
114*3 D e c ’ 01 .
l s t c o n guar g o s ...........1037 M-N 107*8
110
Alay’ U7 .
10 0 * 4
S P a e o t N 5 ie x 1st g O s ..1011 J-J
10 1
Alar ’ 1 0 .
i o i ” io i"
93
84
S o Pao c o a s t l s t g u 4s g . 1037 J - J
00
J ’ ly 0 9 .
T e x A N O S a b D iv ls t g lis.1912 51-S 101*4 ......... 1 0 1 7g Alay’ lO .
1 0 1 7» 1 0 2 >a
10 0
C on gold 5 s .................... 10 4 3 1J - J
..........1 0 2 N o v -0 9 .

112 112

R

S

J IU S C E L L A N E O U S
lU a u u ln c lu r in g A ; In d iis tr u i
G eu E lectric deb g 3 6 3 s . . 1 9 4 2 F-A
90
82 J a n ’ ui
l o - y r g d eb 5 s . .. .'............. i o i " J-D 133 138
133
134
1 1
i n t P a per C o 1st con g o s . l 9 l _ F-A 1 0 0
10 1
101*4 1 0 1
C on sol c o n v s t g 5s........ 1935 J-J
84S. 8 6 J ’ n e’ lO
In t St P u m p 1st s 1 5 s ___ 1929 M-S
92 63
92*2
93
2
L a ck aw Steel 1st g 5 s___ 1923 A-O
97
97
1
97 Sale
N a t Knani A S tpg 1st 5 s .. Lsj2 j J-D
96
95 *2 M ay ’ 1 0
N x A ir jsrak e 1 st c o n v 6 3 ’ 28 M-N lu -1 Salt 103
lo o
u
B y Steel S p g s 1st s f 5 s . .. 192 I J - J
96*4
96*4
96*4 saib
K e p u b l A S 1st A coltrO s. 1934 A-O
104 J ’no i t
105
U n ion B a g A P 1st s i 5 s ..l 9 3 o J -J
93 51 ay TO
S ta m p e d ......................................
93 M ay’ 10
95
U a i.eath Co s {d e b gbs'-ViOL) a-N It l 6, 105 6. ,05
105
]
U S ite a lty A l c o u v d o b g o s ’ 24 J - J
87
87
11
87 Sale
U S Bed A B o f l s t s f g 6 s . 1931 J -J
8 8 1 A p r TO
bo ^ 87
U S ttu bber 1 0 -y rcoll trO.s.’ iS J -D 10 2 6 3 Sale . 0 2
10 2
21
U a a teel C orp— ( cou p .d l9 0 3 M-N 1 '. 3*8 Sale to 1*4
1 0 J*t -Jo
SI 10-60 y r 5s. j reg ..0 1 9 6 3 M-N
102*4 102*4
1
* N o p rice F riday; la test bid and ask ed this w oek. b D u o F eb a




.....

BONDS
N . Y. S T O C K E X C H A N G E
WEEK ENDING JULY 8

| V O L . L X X X X I*

P r ic e
P r itla u
J u ly 8

W eek’ s
R ange or
Last Sale

22
'5 . 0
^

R an ge
Since
J an u ary l

ttia
A sk Lo w
Jiigll
L o w R ig a
9 3 3i Sale I 93*»4
8 0 P ac B B 1st re f 4 s .......... 1955 J -J
94
93*2 9 6 7g
104 Sale 10334 104
S ou th ern —1st co n g 5 s ___ 1994 J - J
103*8 111*>4
B e g is te r e d ................................1994 J -J ................... I ll)
M ny’09
74*>4 Sale | 74 *2
76
77 74*2 8 1 7s
D e ve lo p A ge n I s S er A . 1956 A-O
85 ^ 87 | 85*2 J ’ n e’ lQ
M o b A O hio co ll t r g 4 s .. 1938 M-S
85*2 90*2
M em D iv 1st g 4 T -S s ... 1996 J -J 103*2 107*2 110 A p r '10
110 111)
84
87 *2 86 J ’ly
S t L o u is d iv 1st g 4 s ___ 1951 J -J
80*2 87
105
.........
108
Sep
A la Cen B 1st g 6 s .......... 1918 J - J
92*i Oct
A tl A D a n v l s t g 4 s .........1948 J -J ......... 91
92 J ’ne
2d 4 s .......................................... 1948 J -J 83*2 85
A tl A Yad 1st g g u a r 4 s .1949 A-O
Col A G re e n v 1st 6 s .........1916 J -J 104
109 J ’n e’
1 1 1 *. 1 10
F ob’
E T V a A G a D iv g 5 s . . l 9 3 0 J -J
111) ■r i . r
110*4 1 1 2
Con 1st gold 5 s.......................1956 M-N
110*4 J ’ ly
109 114*3
100 103 * 106 F o b ’
E T e n reor lien g o s ........1938 M-S
106 106
G a M idlan d 1st 3s............ 1946 A-O
65
65 N o v ’ 09
1
1
1
*s
Ga P a o B y 1st g 6 s .......... 1922 J -J
1 1 2 34 A p r ’ 10
112:,4 113*4
K n o x A O hio 1st g ffs .,.1 9 2 5 J -J
......... 1114*2 F e b ’ r.O
113*4 I H 63
T 16**8 A p r ’ 06
M ob A B ir prior lien g 5 a 1945 J -J
M o rtg a g e gold 4 s.......... 1945 J -J
82 N o v ’08
104*2 108
B ic li A D an con g 6 s ___ 1915 J -J
106* 106*4
106*4 A p r ’ 10
106
D e b o s s ta m p e d ..............1927 A-O 1 0 2
105:,4 M ay’ 10
105
107*4
R ic h A A leck 1st g 4 a ...1 9 4 8 M-N
75 O ct ’OS
So Car A G a 1st g 6 s ___ 1919 M-N 102*2 103*2 1 0 2 *2 J ’ lioTO ...(1 0 2 * 2 104
V irg in ia M id ser C 6 s ...1 9 1 6 M-S 105*2.........
O ct ’ 06
......... 108*2 D eo '06
S eries D 4 -5 s...........................1921 M-103
8
1(14 ......... 107T D e c '09
Series E 5s................................1926 M-S
105**8 ......... 105Da J ’n e ’ 1 0
G eneral o s ................................1936 M-N
105*2
G uar stam ped............ 1936 M-N 105*8 107 *2 107 D e c ’ 09
88
......... 91 F eb TO
W O A W 1st c y gu 4 s .. 1924 F-A
91
91
104 ......... 166*8 Aluy’ U)
W est N C 1st con g 6 s . . 1914 J -J
105 *8 106*8
S A .N A i a See L A N
106 *4 Sep ’09
S pok an e lu te rn a t 1st g 5 s 1955 J - J
T 'e r A ot SI L la t g 4 *as.. 1939 A-O
107*8 Apr TO
112 M ay 10
1 1st c o n gold
void 6s___
6 a___ 1894.14)44
1894-1944 F-A
98
98 *2
G eu refu nd s 1 g 4 3 ......... 1953 J -J
St L M B g e T e r g u g 5 s . l 9 3 0 iA-O
109 Alay ’ 1 0
T e x A N o s e e So Pao Co
T e x A P a c 1st gold 5 s ........2000 J-D 1 0 .)
2d gold iu o o s ...................o'JUOOlMui
60*4
96
La D iv 15 L 1st g 5 s........1 0 3 1 ' J - J
W Alin W A N W l s t g u 5 s ’ 3 0 F-A
T o l A O C 1st g 0 8 ...............19361 J - J
W estern D iv 1st g 6 s . .. l 9 3 5 A - 0
G eneral gold 5 s .................193 5: J -D
K an A A1 1st gu g 4 s ___ 1 9 9 0 'A-O
T o l P A W 1st gold 4 s ___ 19171 J - J
T o l St L A W pr lien g 3 T s . 19251J - J
50-year gold 4 a . . . ......................I 9 6 0 A-O
Coll tr 4s g Ser A ............ 1917 F -A
T o r H am A Buu l s t g 48-/1.1946 J -D
lster A Del 1st can g 6s 1928 J -D,
1st refu nd g 4a............ 1952 A-O
Un P a c B B A 1 g r g 4a ...1 9 4 7 1 J - J
B e g is te r e d ....................... 1947, J - J
20-yr c o u v 4 s .....................1927 J- J
la t A re f 4 s .......................</2U08 AI- S
Ore B y A N a v co n g 4s. 1946 J-D
Ore Short L in o l a t g 6 s . . 1922 F-A
la t co n s o l g 5 s................1946 J •J
G uar retuud 4 s ..............1929 J -D
B e g is te r e d ............................ 1 9 2 9 J -D
U tah A N o r gold 5 s . . 1926 J -J
Uni N J B B A U C o See Pa B B
Utah C en tral See B io G r W es
U tah A N o rth See Uu P a cilio
U tica A B lack B See N Y C ent
V andaiia co n so l g 4 s ___ 1955 F-A
» ora C ruz A P l s t g u 4 S isl 9 3 4 J - J
V e r Val lu d A W s e e M o P
V ir g in ia M id s e e S outh B y
108
105 1 1 0 *2 L0 8 J ’l y ’ 1 0 ___ 108
V a * Sou tln v’ i 1st. g u o s .2 0 0 3 J -J
0 4 6 3 95
*J5
94*4
1st co n s 50-year 5 s .......... 19581A-O
94*4 98*8
lo o
V V abash 1st gold 0 3 ......... 1 9 3 0 M-N 108 Sale 108
5 1 0 / 6j 113*4
99 l o o
99 J ’n o lO . . . . 99 IO 363
2d gold o s .................... 193U F-A
86
xOO Joo J10 c ’09
D e b e n tu re aeries a ......... 1939 J - J
UJ *4 1 0 0 J ’n e ’ 1 0 . ... 1 0 0
la t Uen equip a fd g o s . .1921 M-S
10 2
8^
84
90 Xlar’ l o
la t Uen 50 y r g term 4 a .1954 J •J
90
90
64 *s Sain
6 j l4 325
1st re f and e x t g 4a ___ 1956 J - J
63**4 7 7 3«
D e t A C t l E xt 1st g 6 s . .l 9 4 1 1J •J 104
107*4 J la r'lO
107*8 107*4
I
I
......
83 D e c ’ 09
D e a M o in D iv l s t g 4 s ..1939 J-J
67
77
Cm D iv 1st g 3 * 3 3 ........... 1941 A-O
75 A p r ’ 10
75
76*8
T o l A Ch D iv 1st g 4 s . .. 1941 M -S ....... 81*3 90 Jan TO
90
90
38
W ab Pitta T e rm 1st g 4 s . 1954 J-D
35*8 J ’iie’ 10 ___
3 5 ‘a 52*2
T ru s t C o c e r tt s ......................... 1
33 Sale
34
33
30 33
54
2d gold 4 s .............................1954 J-D
6
4*2 M «) TO . . . J
4
116 3
T r u s t Co c e r tts........................
4
5*3
4 J ’u c ’ lO ....
12 6 3
4
W arren See D el L a c A W e s t '
W ash C en t s e e N o r Pao
W ash O A W See Sou th ern
W ash T e rm ! la t g u 3 >3 3 . . 1945 F -A
8 8 *2 M ay TO
8 8 *2 9 0 63
W e s t M arylan d l s t g 4 a .. .1 9 6 2 'A-O
83
8 0 *8
17 82*8 8 6 * 2
G en A c o u v g 4 s ............. 1962 A -O
71 *3 F eb TO .
11
73
T r u s t Co c e r t f s ........................I
73 *2 A p r ’ 1 0 ___ 08 6j 74*8
W V a C e u t A P l s t g 6 s 19 1 1 1J - J IOO 63 i o i
W oat N Y A P a 1st g 6 s . . 1937 J-J . . . " . 1 1 0 6 3 i i u ' J ’ uoTO
lu 9 * IU P 4
G en gold 4a........................ 1943 A-O
Mur TO
9 0 ‘, 0 2
In c o m e 5a........................ <fl9 4 3 Nov
F o b ’07
W est N o Car See South B y
W lieel’ g A L E la t g d a ...1 9 2 6 A-O ..........104*4 104*4 F ob TO
101*4 10-1*4
Jan TO
W h eel D iv la t gold 5 a .. 1928 J -J
......... 103
104
10 1
10 4
E x te u A Im p g o ld 5 a ...1 9 3 0 F-A ......... 100*4 1 0 2 J ’ uoTO . . . J 99 1 0 2
B B la t co n so l 4 s ............... 1940 M-S
79*4
7 9 * 4 ......... 79*4
i 79
07*4
93 ......... 90 D e o '0 8
29-year equ ip 3 t 6 s ...1 9 2 2 J-J
W ilk es A E ast See E ric
W il A S io u x F See S t P 51 A M
01
90 63 Sale
23 90
W is C ou t 50-yr 1 st gen 4s 1949 J -J
90*4
95
89
90*4 U0*4 J’n o ’ lO
90
S u p A D u l(liv A term l s t 4 s ’ 30 M-N
94
T e le g r u p li a n d T e le p h o n e
•
90 J ’n o ’ lO
A m T e le p A T e l co ll tr 4s 1929 J - J
89*4 91
90
93
l o o Sale
C o n v e rtib le 4a.................. 1936 M- s
99*4 1 0 0
235 99 106*4
94
98 ‘2 98*2 J 'n o ’ lO
M i eh State T elep lat 5 s . .1 9 2 4 F-A
OS
90 "
96 >4 Sale
96*4
a Y T e le p 1st A g e n s I 4 *3 3 . ’39 M-N
OO*, 43 96
95 Side
95
P a c T e l A T o l i s t o s ......... 19J7 J - J
96
30 95
99*a
97
98
9 7 J ’ uo’ lO
W est U nion co l tr c u r 6 s .l9 3 8 ^ J -J
97 1 0 0 Si
94
Fd and real est g 4 *3 3 . . . i 9 6 0 M -N i 93
93*4
3 93*4 97 ‘4
C ou v 4s, S erios A ........... 1936 M-N
iu i
iu i
10 1
J ’n o ’ l o
1 0 0 * 102*4

112

U

_

B O .\ U.-,—C o n c lu d e d .

J ln n u liic t u r .iig & In d u s t r ia l
Va-Car Chum 1st 15-yr 6s 1923
vVestiughouse E A -Us 1 o s "
10 0
.u ia c e lt u n e o u s
Adam s KX co i tr g 4 s ..........194o
84
A rm our A C o i s t r e a i e s t i '2 s ’ 39
92
Bush
T
erm
iu al la t 4a........1952
1
0
0
95 7a
U5 *2 97*8
Consol 5 s .............................. 1955
10 0
114*4 C h ic J c A t Yard c o lg o s .1 9 1 5
96 *2 98*2 Dot 51A M ld g r in c o m e s ..1911
103 *8 1 0 1
iu s t it t o r Xrrig W us D 28 1943
93
96*2 In t 5ierca u M arin e 4 T 3 ..1 9 2 2
93
966, Iut N a v ig a tio n 1st s f 5 s .l9 2 o
,04 105
N ew p N e Ship A D D 5 s U l9 9 u
87
94*4 N Y D ock 50-yr 1st g 4 s .. 1951
88
90*2 P ro vid e n ce S e c deb 4 s ___ 1957
10 2
104*2 P roviden t Loan S o c 4*33.1921
1 0 1 63 105 6. S Yuba W at Co con g 6 s . . 1923
10 2
105*4 W ash W ater P o w 1st 5 a .. 1939
82
133

4

82
U 763
105
89*4

D ue A p r « D ue May j/ D u o J ’no A D uo J ’ ly

J-D
J .J

98
87

Sale
s8

98
87 *2

98*8
88

1(

r/

to o
8 7 ‘a 93

0 0 63

M-S
93*4 95
93 J ’n o ’ 10
92
93
J-D
91 *4 Salt
90*2
9 l 7t 37 90 63 94
87 63 hu
A-O
87 *2 J’ ueTO
87 *a 89
J -J
95
97
98 J ’ ne’ 10
96
98
J -J
95*8 105
100 J a u ’ os
35 s i l t
A-O
35
35
12
35
40
95 6 3 ......... 07 >2 M arTO
.U-N
96
98
A-O
62 Sale
OJ S
62 \ 81 60
71
F-A ......... 81
60 '4
80*4
1
80
83
05 ......... 05 D e o ’ O',
J -J
8
/
6
3
90
03
6
,
M
ar’
l
'
F-A
9 3 *a 94
6\ ......... 0 0 5 I a y u
M-N
90
90
,\I-S
96 J ’l y ’09
.................
112 J ’ l y ’ 01
J -J
io o
......... 1 0 1
J -J
F e b ’ lO ___ 1 0 1 1 0 1
AD uo Aug
.
o D u o O c t p D u o N o v s O p tio u Sale

CHIOAG-O STOCK EXOHA^Q-E—Stock Record—Daily, Weekly and Yearly
STOCKS— H IG H E S T A S H LO W EST S A LE THICKS
At outlay
July 4

Eat unlay
July 2

Tuesday
July 5

i
1
|
•
i
j
•
•
j
•
i

>170

185

*2U

*G
*70
10
*8b
*0
*2
____
.
20
5812
____

j
•
1
j
•
;
!

185

75
10b *15
10
Last
Ob
5
*2
2I.|
251;
Last
70
Last
20
*19
63
01i2
22
Last
03
Last
50
*59
834
*814
50
Last
8
07
250
12.8
81
1091;
1321;

33
33
*83
*58
00
*5:1
*48
50
>43
lb
*1
*1
*2
*2
3
37
30t2
37
1103.
>115
lid s

30
60
50
Jh.

_

8
68

Last
Last
Last
Last
Last

r\

o

r-i
1

w
Q

10
5
2b

Sale
Salt
21
61b

Sa‘
Salt
00
83j

Salt

Sail
Salt
Salt
Salt
Salt

Q
2
o

s
w
Q
A
M

147
112

H

X

05
*70
*44
*54
*93

06
71
____
55
95

9512
60
*44
*54
*93

w
1
»
»

*___
*103
1211*
*110
*118
104

21
103
12H117
120
101

t
1
1
i
i
1
l

153
1183a
10214
*172

1531;
1185;,
1023,
170

*10

C

h

i c a g o

37
117

148 148
11178 112

Last Sale
96
70
____
55
95

81*
8b
707s
7078
250 JuneTO
12SI4 JuneTO
30
JuneTO
l I0I4 JuneTO
134 JuneTO
b
Juno’09
'4
June’Ou
*32
34
*53
01
50
May’ 10
1
Apr’ 10
2i2
N ov ’09
*36b
37
117
117
2bt
Mch'08
118
148
*111
112
138
Feb’ 10

/UU Apr’ 10
95
95>?
59
02
Last Sale 1312 Mch’ 10
Last Sale 35 JuneTO
96
96
*95
90

95
54

90
08

21
Las’, Salt 20
N ov’09
100
Last Sale 100 JuneTO
122b *118l2 123 >110
123
117
Last Salt 120 July’ 10
120
Last Sait 118 JuneTO
1043. 105 105
10512 105b
11-10 Mch’Ot
15234 1563-1 156 158
150
15812
118 118b 118l2 118b
*118 119
10134 103
1021s 1023, 10218 1021?
Last Sale 175 JuneTO
*172 170
;34 JuneTO
102b 1023, 102b 1021; 103
103
()
6
*Gb
7
*578
Ul*
73(
Apr’O!
*10
15
Last Sale 15
JuneTO

Week
Share*.
....
....
44;
____
4
5!
____
300
37k
185
245
—
28;
295
____
____
____
____
____
____
116
100

250
34
111
111

B

o n

d

R

Hange,o:
car 1910
I/nces.
Hlyhest

STO C K S
C H IC A G O ST O C K
EXCHANGE
P a d ro a d s
Chicago C ity R v _____ 100
Chicago A Oak P a r k .. 100
Do pret _________ 100
Mile R y s part c tf ” 1’ ___
Chic R y s part ctf ’ 2 " ___
Chic R ys part ctf " 3 ” ___
Clrlc R y s part c tf " 4" _
C hicago S u b w av
io o
Kalis C ity lty & L t-_ 1 0 0
Uo p r e f .................... 100
d etropol W S K iev___ 100
Uo p r e f __________100
N orthw estern K iev ___ 100
Uo p r e f .......... ......... 100
South Side K lcv a te d -_ 1 0 0
Streets W S table C L .1 0 0
Uo
p r e f-----------------100
M iscellaneous
A m erican C a n .
mo
Uo
p r e t___________io o
A m erican R a d ia t o r .. 100
Uo
p r e f....................100
A m er S h ip b u ild in g ___ io o
Uo
p re f________ .10 0
A m er T e lc p & Telcir
B ooth (A) & C o . .
io o
Uo
p r e f.................... io o
Mootli Fisheries com _
U o p r e f ..
Cal & Chic Canal & U.IOO
Chic U rcw ’g & M ait’g . . .
U o p r e f ..
Chic P n eu m atic T o o i .io i )
Chicago T e le p h o n e . . .1 0 0
Uo r ig h ts. .
Chic T itle A T ru st
100
C o m m o u w ’ th -K d ls o n .10 0
U o rights
Corn P rod R e f On m m

Weak enillnq Ju ly

8

InterC3L
lJertoo

Trice
Friday
Ju ly 8
HU.

A m er S traw b’d 1st 6 s . 1911
A rm ou r & Co 4 H s ___ 1030
A urora K lgln& Chlc 6.1941
Cal A So Chic R y Co
1st M 5s...................... 1927
Cass A v <5; F G (St L) 5s T 2
Chic Board of T radc 4s 1927
C hicago C ity R y 5s___ 1927
Chic Consol B r & Mlt Os___
Chic Consol T rac 4 Hs 19.19
Chic A u ditorium Ist5 sl9 2 9
Chic D ock Co 1st 4s . . 1929
Chic Jc R R 1st M g 5S. 1945
C ldc N o Shore Klee Os.1912
C ldc Pile Fool 1st 5s.a l9 2 1
Chic R y 5s...................... 1927
Chic R y s l-5s scries “ A"
C ldc Rys 4 -5s series “ IF
Chic R ys 4-5s series ’ ’ C'
Chic R ys coll 6s___ 1913
C ldc R ys Fund O s..1913
Cldc R ys Tern Ctfs 1st 5,
C ldc R I A P R R 4 S ..2 0 0 2
C ollat trust g 5s___1913
C ldc T eleph on e Os____ 1923
C om m on w -K dlson 5 s. 1943
C ldc Kdlson del) 6 s . 1913
1st g 5s ___ July 1926
D ebenture 5s ___ 1920
Cotnm onw Klect 5s()1943
Illinois Funnel 5s ___ 1928
K an C ity R y A I.lght
Co 5 s ____________ 1013
K n lck ’ b ker Ice 1st 5s .1928
Lake St HI — 1st 5s __ 1923
In com e 5s ________ 192.;

T - A
J

- D

A - O
F
J
J
F
J
j

-

A
J
U
A
J
ij

b' - A
A
M
A
J
1;
A
J
H
F
F

—

- ()
- b
- O
• J
- A
- (J
- u
- A
- A
- A

Al - j\
M- 8
I - L
H- 8
J - J

-

A

0

il - s

- s
i - 1:
.1

il - N

- u
- j

A

j

Wcekt i
Hanye or
Last Sale

Ask I.OtO

. . . . ____
9134 Sale
. . . . ____

lllQt. No.

9934 Mcb’ lu
OH4
9134
____

5

____ . . . . IOU4 Oct’ OJ
. . . . . . . . 100 May’07
102 Sale
10134
102
32
.... ....
103 Apr’04
.... ....
50 Apr’09
.... ....
963) Jan’OJ
____
.... ....
.... ....
9412 Dec 09
____ ____
87
Feb’Ofi
....
8S<2
86i2 Junc’ lv
---- - 98 b
9734
981;
3
. . . . -----88 J’nc’ 10
773,
77
77
78
8
. . . . 90
U012 Mch’ 10 - . -19858 Sale
98Sg
98>8
1
. . . . . . . . 101b JUly’OU
. . . . . . . . 10018 A p .’ ll)
.... ....
00l2 Aug’OS
.... ....
Old 2 Julv’08
. . . . 102
1017g 101',v
1
luo's Sale
10014 10038
10
. . . . . . . . lo o i’ne’08
. . . . . . . . 100 June’ io
. . . . . . . . 10063 AUg’09 -. . .
. . . . 10012 102 J’ ne 10
__ - —
80 Dec’08

__

19434 Sale
. . . . 100

__

....

F - A
J - J
J • J

....
__ _

2

_

1st 4S____________ 1U3.''
E xten sion g 4s ___ 193s
.Morris & Co. i H ____1939
‘ N orth W est Kl 1st 4 s . I 911
N o W G -T & Coke Co 5s 23
O gden Gas 5s _______ 194.;
Pearsons- Faft as ------- 191’.
4 . 4 0 S ..............................
4.60s Merles K ------------4.80s Series F ............ ..
P co Gas T A C 1st 6 s. 1943
R efu n d in g g 5s ___ 1947
C ldc Gas (.A C 1st 5s 1937
Coilsuni Gits 1st 5 s . 1930
M ut’ i I’ ucl Gas Ist5sl94 7
South Side Kiev 4 ) 5 s .l 9 2 l
Sw ift A Co 1st g 5s___ 191)
Union l.l (Coop) 5 s . .1 9 4 .
Union P a cllle c o n v 4 s . 1911
U nited B ox Board col 6F26
General m tge 6 s . _______
W estern Stone Co 5 s . . 1909
N ote. — A ccrued hitcresl

80b

M • [
94
Q - M __ _

'l - Is
1 - L
\l - b
M - IS

M - A

A - O

-

b

j -

j

M

J - 1M-N
■J • J
1 - j
A - G
)\ ■ N

81
80

___

OOM
99
94 Sale
99 b . . . .
‘J(i
.....

\)7

....

98 >2 __

__ -

___

101
103

102

93

till}

....
....

....
___
__ -

. . . . 120
.... ....
.... ....

70
63
70
63
J » J
....
\ (.
must o c m uled to

_
_

J5U N o v
86 J ’ne
225*4 O ct
132 JT y
8)i8 D ec
112 Sep
145 N o v

14 Mav
10 M av
48 J ’ne
6D4 Jau
1 Apr
2i8 A p r
20 M ch
127 Jan

6
40
76b
68
1
2b
42
140

117
107

Jan
Jan

152 (Jet
12i 12 JT y

i/i8
701.,
117
38
43

F eb
Mch
Jan
Juu
Jan

25'8 A u g
8Sb M ay
13034 A u g
S«i2 D ee
47 Sep

J ’ne 0
J 'n e c
Jau 11
Feb 4

3934 J an 0
74 Jan 1
55 F e b 17
1 F eb 4

__ ...... _______

F e b 11
Jan 3

3 9*2 J ’ly t
110 M avl7

4/
137

142b Jan 21
11178 J ’ly 7
li.i Jail 26
1434 J ’ ne 6
7914 A p r 7
95 J 'n e 4
54 J ’ly 7
43*2 i le n 9
40 M ch 17
93 J ’ ne 28

iOJ M e n lo
121l2 Jau 11
2 Jan 12
2234 Jan t.
82 F e b 28
12/
.a n o
91 M ch 2
46 Jan 7
60's M a y 2o
1023., A p r 20

IOO10 A p r 14
122 M ch 14
109** Jan 8
186 F eb .9
0 May26
100 Jan 6
1538 Jan 3

High

8734
1013S
95'*
86
91
10U8

100's 1003,
10D8 103F,
lUOFi l02/«
109b

10134 10234

__

9434

9434

80

86

80t2
81
80
2
78
7i)b jun eT 0
89b
9 0 '8Junc’ 10
9334
95
95 ij
6
99 Apr’ lo
99
92b
93o8
94
6
1U03S Mcll’09
96b
U012 Mch’ KJ
97 Feb’ lu
97
98b
9SI2 Mch’ lU
1213, May’09
101b
I01l2 101 •;
i
103 A p flO
103
102 Mch’ 10
102
101b Uec’ O’J
93
93
10
02
100 July’ 10 ___
100
88
A p r'l 1
83
114 N ov’OI
70 Apr‘ 10
70
65 JuneTO
65
80b July () %
all C h icago t> ond 1.rices

V i Jan
7134 Jan
200 Jan
120 Jau
5418 A pr
101 Feb
139 A uk

F eb 7
J’n c 29
Jan 25
Jan 13

1

O

T1

>

0
s

Feb

___
....

9434
943j
96 Mcll’OU
8;) ’ May’ lO
16 M ay’05

1338 Jan It
82 Jail r250 M a y o
135 A p r 4
84b MayU,
112 Jan 11
142’18 -Mch

143
118
101b
162

10134 10314

100

J'ne3G
J ly t
A p r 25
J ’n e l i
F eb 7
A p r 11
J ’no 0

l,u92 S ears-R oc buck c o m . .10 0
76
Uo
p r e f.............. . . 1 0 0
1.540 Sw ift & C o . ................. 100
I he Q uaker O ats C o . -100

_

_
__

6-b
67
140
128b
72
109
138

115
125
120
121
11534

993.1 J93,
9U.1 94b.

841.1
0734
88
70
90b
97 b

190 F eb
4 Jan
15 Jan
1 i n? .P iy
4i>3., ja il
8u .iaii
13b vail
29>4 j a u
52 j ’1 /
8 0 b .nay
J9>2 D ee
59 D e c
25 -May
/3 M ay
61 M ay
54b R e c
103 D ec

M ay ;
M ch 28
F e b 24
F e b 10
J ’ne c

Range
tor
Year 1910
I.010

180 M ch
l i 2 O ct
5 O ct
97'8 D ec
3 ) D ec
1 0 i?U ec
8 D ec
3*4 D ec
30 D ec
78 D ec
16'8 Sep
47 Jan
17 N ov
63 c a n
50 Jan
29*4 A pr
97 F eb

103
121
104
112
10334

C

IFds
Sold

185 M ch 7
3l2 Jan 26
7 '2 Jan 7
JOO J - u 3
3o Jan 3
16 Jan 11
9‘s Jan t
5 Jan it
39 Jan f
7784 M ch 39
25 J ’ne 1
72 J ’ne 22
23 J ne24
06 J ’ n e . i
72*2 J l ie 22
243s Jan 0
104 Jan t

U o pret_____________
N ational B iscu it_____ 100
Uo
p r e f___________100
N ational C a rb o n _____ lo o
Uo
p re f___________to o
175 P eop le's Gas L A C o k e .1 0 0

e c o r d

h

i c a g o

B

84
80
93'4
UGI4
99
96li
90b
97
98b,
IO.3I4
io n 102b
SI4
ldOg,

__

i>
65

102 J 'u c jg
Ski A p r 28
15

a n

N AM E

Calum et N a tio n a l_____
Chicago C ity ......................
Com m ercial N a t io n a l..
Continental N a tio n a l..
Corn K xch angc N atioua

HUth-.S:

M ch 7
M ay26
Alay 25
Alayco
M ay 28
M av2t
May24
J ’ne 21
M ayu
F e b 17
Jan 14
F eb 7
Apr 1
May31
J ’ly i
J ’ne 4
Mav27

31
56
50
1

162
l)o
pret....................io o
7E Unit B o x 13d & P C o . 100
Uo pref
.
100
W estern S to n e _______i o o

Lowes•

185
2
5
6/
14
8
3
2>J
26
69
16
51
15
63
55T
8
45

__ ____

6

BO N D S

C H IC A G O ST O C K
EXCHANGE

tarujelor Previous J tat

1

114 D iam ond M atch .*!___ 100
160
4,874 Illinois B rick ____ __
M asonic T e n ip ie .
M cC ru m -llow ell C o . . l o o
75
Uo p r e f_______

>103
>1 21b
*110
>118
*104

102>2 1021?
0
0
15

Last Sale
Last Salt
Last Sale
Last Sale

148
112

148
112

*147
112

3312 33b
58
58

37
*116

37
117

185 Mch’ ICJ
2
May’ ll)
jb
JuneTO
A)
June’ 10
1534
16
9
JuneTO
*5
6
*2
21?
26
May'Ki
70b May’ ll;
20
20
0112
611?
20
JuneTO
15
June’ K
*55
58
*8U
834
15
Juno’ 10

Salt

Last Salt

<
o

Friday
July 8

Salt
Salt
Salt
Salt

8
68

sates
5/ the

Thursday
July 7
Last
Last
Last
Latl

Ski
8
09
07
250 *240
128b
81
*80
_
1091
133 >1313.

*73^
*0S14
>240
f __ _
>80
___
>132b

m
c

>170
*2^2
*0
*05
1558
*S12
*5
2U
:•*____
*____
*19
0012
__
____
60
8;i4
*43

75
1(P.
10
0b
2F;
20b
70
20
63
22
03
70
81/
45

8*4
*43

&

Wednesday
July 0

k s

2*2/8 A p r

J ’ueno

a n

Jau 7
Jan Is
J ’iy 1
M ch JO
Jan 8

d

T

r u

s t

1

C

97/8 Jan
) 18T F eb
82 ja u
110 .Ian
102 Jau
U Feu
55 J an
101 Jan
100b Jan
119 Jan
98i2 Jau
f>8 F eb
334 Mch
15 F eb

o m

OulstaniinJ
Stock

Surplus
and
Profits

In

m

r

t

1903

1909

sioo.oou
.t342,187
2/208,8 F:
500,098.000.90J 3,733,9/2
9,000,JOv 5,2 0 j,o o i
3,900,000

y2G,1 l l

0
10
1/12

10
i/ll

8
12
12
0
y
9H
10
1)
6
12s
12
10
10
Pnv ate Ba
6
8
5
H
8
TO
10
Beg
s. Ma
10 4-2
10
4
4
S
8
3
G
3
5'H
6
G

p

a n

ily tj
130
103'124
111)/*

ja u
D ee
D ec
Apr
Apr
N o/
D ec
Sep

Sep
Sep
D ec
N ov
Aug

10912 D e c
12134 o c t
U4i4 A u e
162 Uec
106 D ec
D* M ch
25 ' M ch

i e s

Tettod
Dec
J-J luly
Q-J Aliy
Q-J July
Q-J July

%

4)9,
TO.
TO,
’lo j
TO,

6
5
2
2b
4

D rovers' D ep N ational3 7 /, 55iQ-J July TO. 212
600,000
E n glew ood S ta te _______
Q-J July TO, 112
200,009
First N a tio n a l_________ 10.000,002 10,531,793
Q-M June30'10,3a
First N at E n g le w o o d ___
Q-.M Msh31T0,2i2
150,009 £109,998
Forem an Bros IF k’ g C o
uk
1 ,000,000
F'ort D earborn National 1,000,000
Q-J July TO,2
390,273
w lla m llto n N ational . .
(it)
J-J U ecJl’09,212
fOO.uOJ
H ibernian Il k’s A ss’ u . . 1,500,UOJ
921,-117
Q-J lulv TO, 2
K aspar State B a n k .. .
J-J July TO, 5
'200,000 2/123,181
La Salic St N ation a l . 1,000.000
y.’ lO V.9J, p.1277
259,155
Live Stock E x ch ’ge Nat 1,250,000
Q-.M Jne ,80T0 212
4 5 2 ,;‘91
M onroe N a tio n a l___
Q-F M?.y #]0.1
o(JOtUU~
Nat Bank of R e p u b lic .. 2,000,00'. 1,198,086
Q-J
w Natlonal C ity _________
Q-J July 10. 11*
1,500,002
N ational P ro d u ce .............
250,000
76,193
Q-J July '10. l b
N orth A v en u e S ta te___
200,00Q-J July TO! 134
N orth Side State S a v ’g>
50,000
2/23,081
Q-J July TO, 112
North W est S ta te _____
200,009
2/13,022
Q-J July TO, 1
P eop le’s Stk Yds State.
300,009
2/93,699
Q-J July TO. 2b
Prairie N a tio n a l________
250,009
68,226
Prairie S ta te __________
Q-M MctlJlTO 112
500,000
8
04,490
2
R ailw ay E x ch an ge ___
250,000
Jan '08, 2
None
22,809
S e c u r i t y ........................
300,000
109,121
Q-J July TO, l b
G
South C h icago Savings
0
200.00U
Q-J Jrjv TO, 2
2/S3.009
South Side S ta te ______
::oo,ooo
2/8,14-1 Beg. b us Sep t.’ oy V. a9, p. 817
12
Q-J J ly TO, 3
State Bank o f C h ic a g o . . 1,500,009 1,982,S9C
11
8
Q-.M June30’ 10, 2
7
S tock Y a n is S a v in g -___
180,918
250,009
G
u
M-N May TO, 3
2/42,085
Union Bank o f Chicago
200,009
2/8,138
0
None Q-M Decs 1 08.1b
W endell S t a t e .......... ..
50.000
392.018
8
G
Q-J
A m erican T rust & Savs
3,000,009
7
800,151
/
Central T rust Co o f I I I.. 2,000,009
Q-J July TO, 2
111,068
0
Chicago Sav Bk ,1: T r ___
U500.00J
Q-J July TO, 1<2
1h
0
G
Chicago T itle A T r u s t .. 6,009,009 11,319,109
Q-J July TO, 2
2/6,221
4
Citizens T ru st A Savings
60,90.)
4
A-(J Apr9, TO, 3
502,189 84-2
609,009
Colonial T rust A Saving84-2 Q-J July TO, 212
200,009
D rovers’ 1 rustASavIngs
114,201
8
Q-J July TO, 2
th
1,509,00- 2/228,90!)
F'arwcll T rust C o _____
3
Q-J
First Trust A S a v in g s .. 2,509,00.. 2,904,148
1 ; Q-M Junc3JT0, 4
200,000
G uarantee Trust A S av.
2/5,245 incorp orated 1905 V.S7.p.1138
Harris Trust A S av in gs. 1,259,009 1,410,412
li
9H Q-J July' 10. 3
Illinois T rust A Saving- 5,000,000 8,746,021 10 *F4 16 4- 4
July TO. 4
/
200,009
K en w ood T rust A Savgs
2/58,003
0
6?J Q-J July TO, 1*4
200,00Lake View FrustA SavgV 11,100
5
Q-J July 'IP, 112
vlerchants’ L o a n A l r C t 3,000,009 5,813,218
Q-J July TO, 3
12
12
750,900
Metro poll tan T ru st ASa\
G
211,315
0
Q-J July TO, l l j
1,500,00- 2,271,139
Northern T ru st C o ____
8
8
Q-J July TO, 2
200,009
N orth-W estern T r& sa v
2/01,78;
G
6
J-J July TO, 3
600.00U 2/220,21,
Pullm an Trust A SK'kS
8
8
Q-J luly TO, 2
200,009
Sheridan T r A Sav Bank
2/23,43i Beg h us. JTy 12’ll 9 V.89,p.141
200,000
Stock m en 's 'i rust A Sav
2/31,17-1
5
l-J Jan TO, 2U
5
1,200,000 1,162,581
Union I'rust C o ______
8
(84-2 Q-M Ju n e30T 0.2
W estern T rus A S a viu g- 1,000,009
207,421
6
0
Q-J
200,000
W est Side TrA SavU ank
97,141
June 30T0.2
200,002
W oodlaw n Tr.VSavBan
2/48,245
0
6
Q-J July TO, 2

* Bid nml asked prices; no miles were made on tills day. f June JO (close o £ business) lor national banks and July 1 (opening of business) for State institutions.
{ No price Friday; latest price this week, a Due l)cc. 31. b Due June. /. Also 20% In stock. « Capital and surplus to be Increased, q Dividends are paid Q-J,
with extra payments Q-F. s In addition the equivalent of 4% more came from First Trust & Savings Bank, l Dec. 31 l'JO'J. u Stock Increased In 1009. v In
addition tlnr equivalent of 1% came from First Trust A Savings Bank, to Hamilton National Bank absorbed by-the National c ity Bank. See V. 00, p. 538.
2 March 29 1910. v March 30 1910.




BOSTON STOOK EXOHINOE— Stock Record, Daily, Weekly and Yearly
SHAKE PRICES— NOT PER CEN TU M PRICES
Saturday
JvXy 2

,-

day
Jut y 4

Tuesday
July 5

Wednesday
July 6

Thursday
July 7

sates

0
1the
Week

lay
Jul / §

Shares

STOC KS
BO STON STOCK
EXCHANGE

Range Since Jan, 1
Lotcest

Highest

Range tor Previous Year
(1909)
Lowest

Highest

R ailroads
92*2 J'n e 3 0 123*g Jan 3
98 Jan
125% O ct
04
953g
97*2
305 A tch T o p & Santa F c .1 0 0
971*
94
96
96
971?
99% J ’ly 8 104% Jan V 100% Jan
106 J ’no
Do
p r e f....................101
99% 99%
99l4
30
*99% 1001* *987g 997g
99*4
2 18
J ’n o i o 234 Jan ID 225 Jan
239*4 Apr
222 222
222 222 *222
119 B oston & A lb a n y ____ 10(
222 222
125
A p r 12 136% Jan 6 124% Jan
135 D ec
126
125% 126
183 B oston E le v a te d _____ 10(
125 I 2 5 I4 126 128
126
215
AlayH
22/
Feb
24
2281-.
D
ec
235 Alch
*215
10 B oston & L ow ell_____ 10(
____ *215
215 215 *215
134 J ’n o 9 152 F e b 2 132*? Jan
153 N o v
*138
____ 138
13 B oston & M aine_____ 101
136*4 1361, *138
138
1 B oston & P rovidence.IO C *292 J ’n o 20 298 Jan 20 205 Sep 301 Jan
*292
____ *292
293 293 *292
11%
Jau
22 F eb
14 J ’ne 16
16 Jan 3
*
B oston Suburban El C o s .
Last Sale 14
June’ 10
14
14 *_
73 F e b s
60'? Jan
77% N ov
76 A p r 7
Do
p r e f______________
Last Sale 74
June’ 10
*72
*70
74
74
10 M ay
8 M oh .J
14% Alch
10 Jan 7
Last Sale S
B oston & W ore E lec Col .
April’ 10
10 %
*- 10l2
46% Deo
66% O ct
48 Jail 3
37 J ’ly 7
Do
p r e f . . ____________
*37
37
37
38%
105
37l2 38
*38
40 ’
162 J ’ne
141 141
65 Chic Jun e i t y & U SY.10C 141 J ’ly 7 156 Jan 19 143 Jan
Last Sale 110 June’ 10
Do
p re f.......... .........IOC 110 A p r .2 118 Jan 6 115 N ov 123 J 'ly
275 Alch
267 Jan
Last Sale 270 Mch’ 10
C on n ecticu t R iv e r ...I O C 265 Alcll 8 270 AlchlO
100 126 A p r 12 133i2 Jan 8 1281? N o v 136 F eb
128 128 *____ 128
37 F itch bu rg, p r e f . _
128
128 128 *
103 D eo
/ 5 Jail
107 107%
Ga R y & E lectric____ 100 104 Jan 3 112 A p r 29
106 1071* *107t2
88% Sep
85 A p r 8
Last Sale 86
88 Jail 17
79 Jan
:<
June’ 10
Do
p re f___________100
87
87 ~ ♦
105 O ct
195% Jau
Last Sale 204 Mav’ 10
Maine C entral............... 100 203 F e b 10 201 May3.l
19 O ct
11% Jan
15
163, *15*2
14% J ’ne 30
20 A p r 14
625 Mass E lectric C os____ 100
15
15
15%
143.1 1434
84 N o v
75 J ’ly 1
58>? Jan
75
75
*76
76
88 A p r /
76
83
Do
p re f__________ 100
7C!2 77
1497g
150
149
A
p
r
28
149%
544
/il
53
N
o
v
N
Y
N
H
&
H
a
r
tfo
r
d
.
100
162%
M
ch
14
150
150%
150
174%
J ’**6
150 150
Last Sale 140 Mch’ lO
149 A u g
N orthern N H
100 139% A lch U *140 M ch 9 14(5 F eb
Last Sale 210 June’ 10
N orw ich <Sj W o r pre’t.1 0 0 210 Alayiu 212 M ch 18 200 A p r 215 Sep
189 189 *187
188
5 Old C o lo n y ....................100 185 M ay 3 200 Jan 7 190 D ec 200*8 J an
18812 18812 *188 189"
25 Alay j
40 J 'n o
35 Jan 3
20 A p r
27
27
20 R utland pref_ .......... 1 0 0
*
109 J ’ly 6 116 Jan 6
90% Mch 117% A u g
109 110 * ____109
10 0
200 Seattle E lectric
109
109
99
99
9 7 1 -. A p r
107 A u g
99
99 j ’ ly 7 106 M en 2
6
100 *
100
99
Do
p re f.................... 1 0 0
21834 A u g
____ 1 0 0 155% J ’ly 6 204% Jan 3 rl727g F e b
1561* 160% 155ig 159ig 159 159% 161% 161*4 1,284 U nion P a d lie
117% A u g
Last Sale 92% June 10
92*8 J ‘n c 13 103% Jan 3
9 3 % Alch
Do
pref
....
10 0
*89*4 9014 *8834 8934
Last Sale
176 A p r
V erm ont & M ass.
100 162 A p r 2-1 168 Jau 17 106 Jan
87 M ay 2
95% M ch H
88 Jan
98% A p r
88 *____ 88
87
50
112 W est End St
88
88
88
112 A p r
*98
09
99 J ’ly 6 109 F e b 10 102 O ct
99
*98
09
13
Do
p re f.................... 50
99
100 10 0
M iscellaneous
3 3 % Jan
487g Jail 10
60% A u g
*38
40
38 J ’ly 6
39
38
40
430 A m er A grlcul C h e m ..l0 0
41*4
3SI2 39
94
Jan
98% Alcll 3 1 104 M ch
105
J ’ly
162
100*2
Do
p re f....................100
100l2 10012 100 100 *100 100% 100
5 % J an
9% F eb
47g
6
434
87g F e b 1 1
4% J ’ ly 6
*43,
5
313 A m er Pneu S ervice___ 50
5
4%
13 Jan
22% N o v
153i 15S4
24 F e b U
1512 16
1534
15% J ’ly 6
15% 1,076
Do
p r e f___________60
15% 16%
1167g 1181* *117% 119
119
119%
373 A m er Sugar R e lln ____ 100 115 J ’llO 6 127% Alcll 2 ,114 N o v 136 A p r ,
118l2 119
116 117
117
338
Do
p r e f.......... ......... 100 115 J ’n c 0 124 M ch i 1:117 N ° v 131 A p r
11812 1181s 116 117
117*2
13H2 13214 1313i 132% 132
1313. 133
133
4,779 Am er T elcp & T e l e g ..l 0 0 131 J ’ n e j o 143% F e b 2-1 125% 1’ Oh 145% Sep
27%1’ eb
40% A u g
26
20
27
39*o Moll 19
*26%
20
J ’ly 7
27
27
60 A m erican W o o le n ____ 100
27U *25
108 J ’ne
03% Jan
92
923,
91 J 'ly 1 104% M c h 23
92%
0U 2 9212 9112 02%
92*2 1,188
Do
p re f................. .1 0 0
12% Sep
4% A p r
93,
7 M ch 18
11% Jan 7
9U ¥
*812
8*2
Atl G ulf & VV 1 S S L .1 0 0
9%
8*2
311? A u g
15% A p r
*16
18
18
16
M a y io
28 Jan 0
163s
*18
16%
19
Do
p r e f___________100
10
8% O ct
3 % A pr
Last Sale 1
*5
8% Jan 11
6
6% M a y ls
B oston L a n d _________ 1 0
*5
Mav’ 10
6
125 Jan
142 142 *141
147*2 N o v
140 140
140 140
142
270 C um b T elep & T e le g .1 0 0 140 J ’ly 6 162% Mali 7 I 84 D ec
18% Jan
Last Sale
6 5 % J ne 1
71 Aloh 4
7
Jan
13% J ’ ne
7%
8
7% A p r 14
11% Jan 3
8
8
7%
7%
*712
8
240 East B oston L a n d ___ __
200 A p r
252 252 *250
255 255 *255
25 Edison E*ec Iliu m ___ 100 /i230 Jan 26 157% Mch2.» 245 Jan
173 A u g
140 141
1403, 1411, 13912 140
142
604 General E le c t r ic .. ..1 0 0 138 J ’ne30 160i2 Jan 6 150% F e b
142
83% D eo
59
Jau
7912 80
80
80*4 80*4
76% F eb 8
84% M ayi8
80!2 801?
80*4
840 M assachusettsGasCos 100
91
91
92
91%
97 A p r
89 Jau
92
91
80
M aylO
92
91
Do
pref....................100
147
97
M ch 18
217I2 21712 *210
____ *215
216 216
218%
22 .Uergenthaler L i n o ...1 0 0 214% Jan 4 220*2 F e b 26 20 2 1 ? M cb 220% D eo
2
Jan
5%
3% O ct
2% Jau 3
*512
6
5
634 M aylO
5^2 *5
5
150 M exican T e le p h o n e .. 10
5*2
10934 10 0 3 , *109 110 *109
109 109
08 A pr 125 O ct
no
n o N E C otton Y a rn ____ 100 109 J ’ ne 30 124 Jan 3
*
la s t Sale 106 June’ 10
118 O ct
93 Jail
105 ¥ . _. 106
Do
p r e f__________ 100 105 J ’no 2-1 115 Jan 11
134
139 Sep
133 1331* *13312 135 *13312 135
134
106 N E T e le p h o n e _______100 132 J n e 2 3 138*2 M ch 11 126% Jau
*9412 95%
Last Sale 95
94 M ch 22 100 Jan 5
103 O ct
75 F eb
P acific Coast P o w e r .. 100
*94
95
June’ 10
<
157 157
199 A u g
156 157
168 Jan
156*2 1563,
207 Pullm an C o ___________100 163 J ’ne30 200 F e b H
15512 157
084 Jan
12 Sop
12
* 1 1 3 i ____ *11%
11% Jan 15
*1134
12
12% A p r 14
15 R eece B p tt o n -H o le ._ 10
100 Jau
114% A u g
10234
102 1021* 101«4 10212 102 102% 102
543 S w ift & C o........ ........... .1 0 0 100 Jan 24 109% Jan 10
34 D eo
20t2 M ay
32
32
31%
28 M ch 30
34% Jail o
31% 311*
311?
270 l'orrin gton . Class A . . 25
*32
321*
h
24% Jan
85 N o v
28% 28% +
27 Jan 18 31 M ay 0
Do
p r e f_______
25
*28% 30
5
*28
29
28*2
<
170 D eo
inn 165*2 Jan 16 106 M ay 19 126*2 J ? n
186
185% 186
185 186
186*4
387 U nited F r u it.
o
185 187
71 O ct
53% 64
4712
47*2 J ’ly 8
71% A p r 18 *64 Alch
53
54
53 14 54
53*2 12,500 On Shoo Mach C o r p .. 25
31% Sep
27
273,
31 Jan 4
2 8 *2 Ja*i
27
Do
pref
_
25
2734 28
27%
20*2
2 6 *? J ’ ly 8
512
27
4 1% heb
94% O ct
00% Jan 8
67% 70
69% 70*4
69
67% J ’ly 6
68i2 71%
71*2 25,082 U S Steel C o rp ________ 100
131 O ct
113% J ’n e 29 126% Jan 6 1 0 7 F e b
Do
p re f__________ 1 0 0
614
w
114 115
113% 1141, 114 1147s 115
115
6% Jan
1J D eo
14 F e b 14
18 Jan 6
*15
16% *15
15
15
*15
12 •Vest T elcp * T e le g _ .1 0 0
1612
16%
70
M ch
90 D oc
85 M ch 29
04 Jau 3
*85
Do
p re f__________ 1 0 0
*85
*85
____
87
87
25
w
M ining
47g O ct
10*2 Alay
6 M ay 2
5
5
5
10 F e b 1
*5
5
612
*5
160 \ dven tu re C o n . _____ 25
5%
62 O ct
34 Jan
36*2 36%
36 J ’ ne 30
68 F e b 25
3812 381* *36
37
0
36
150 A llouez________________25
36
5734 601*
57lg 59-% 587g 60
96*2 N o v
65 F eb
90% Jan 3
59
67% J ’ly 6
61 25,695 Am algam ated C opper 100
23 Alch
40*2 D eo
21% 2U* *22
*21% 23
21% 21%
40% Jan 3
126 Am Z in c Lead & 3 m . _ 25 * 2 1 % J ’ly 5
22%
i
3 8 % F eb
54 D eo
383^ 38%
_ 25
37
101 A n aconda ________
63% Jan 3
37 J ’ly 8
37
i
14
14% 14%
30 F eb
61% D eo
14%
1312 14
I 2% M ay 4
15
•
6034 Jan 3
15% 1,355 Arizona C om m e rcia l. 25
i
18 Jan
5%
6
8 J'i.y
5%
*5*4
6
5
J ’no 30
12% Jan 14
*514
350 U la u tlc _____________ 25
5*2
5*2
W
•
.80 M ay
.51
.51 * .50
.51
45 F eb
* .50
.51 * .50
.So M ch 9 .70 M ch 2 8
50 bonanza (D ev Co) . . 10
.51
12
24 l)e o
12
*11% 12%
1U2 111*
12
10 M ay 4
5
i
X
395 Jos& C orbC op& S U M g
24% Jan 13
17% J 'w
12*4
w
133.,
13% 13l4 13% 13%
8 Sep
11% D eo
13
1334
0% F e b 8
18% M a y 26
14*4 1,869 B u ttc-Ila 'a k la v a Cod . . 1 0
i
16*2 17
15
2 ia8 F ob
lG-% 163,
161* 17
17
33% N o v
15% J ’ne30
17*2 2,490 Butte C oa lition ___
28% Jan 3
48% 50
5034
47
49
40
i
49
829 Calum et & A r iz o n a .. 10
90*4 Alay 119 Jau
47 J ’ n o 30 103 Jan 3
49
506 506
695 A u g
519 520
500 518
505
53 Calum et & H ecla____ 25
500 J 'ly 6 685 Jan 3 585 F eb
610
•
15
15
*14
44*2 Sep
*14I2 151*
15
15
15 M ay 4
20 F eb
106 Jentenn lal...................... 2 5
15
38 Jan 3
*
.04
.04 *.04
•
.
l
.35 Jau
.04
.10
.10 J 'n e
.04 J ’ly 6 .16 Jan 10
6 6 O1 Jons M ercur G o ld .
.10
.08
60
601*
8684 N o v
61
59
60*4
1,305 C op per R ange Con Co 100
58 Fen 17
68*2 F eb
5812 60
85 Jan 3
61
•
7%
8
734
12 M ch
8
*7%
76 J a ly -W 'e st................... .. 20
7% J'neoO
8
7*2 Alay
8
9 % M ch28
734
67g
7
7 % Feb
«
10% A p r
67g
6%
6% J ’ n e 30
7
1,630 East B u tte Cop M in .. 10
7
7
1334 Jan 3
1
G et
2*2 Jan
.50
.50
.6 0
J ’no 29
2% F e b 16
.50
.50
1,645 Elm R ive r____________ 1 2
.50
.50
.50
.50
i
13 F e b
19 A u g
10
10
25
934 10
yi? J ’n e j o
10
914
484 F r a n k lin _______
97*
10%
22% M ch 9
•
7 3« J ’ne
12*4 N o v
G34
0%
6%
6% M ay 2
12t2 Jan 10
63,
6%
1,820 G iroux C o n so lid a te d . 6
6%
67g
90
F eb
110*2 D eo
26
25
29
30
•
20
720 J r a n b y C on so lid a te d . 1 0 0
20
J ’ly 6 111% Jan 3
28
31
311*
•
9
F eb
14% N ov
6% J 'n o jo
67g
7
117g Jan 3
67g
0-% 7
657 jreen e Cananea_____ 20
63.1
7
7
•
8% Sep
38 D ec
17*2 17%
17%
410 H ancock C on solidated 25
16% J ’ly 1 30 Jan 12
17% 17%
16% 16l2
17*2
5 % D ec
7% A u g
25
6% Jan 4
•
2%
*2
2*.|
95 H elvetia C op per
2 % J ’ no2Q
*2
2 I4
214
12^4
I 2 I4 123 j
4 4 3 . M rh U
i
22% A p r
33% F eb
1,414 isle R oy a le (C o p p e r ). 25
147g 15
15
13*2 M ay 3
28*2 Jan 3
15
15*4
1412 15W
16
2*2 M ay
c7% D eo
6% Jan 14
115 K ew eenaw C o p p e r____ 25
4
3
3*2
3
j ’ ly 7
*3%
♦3 I4
312
7*2 A p r
938 Aug
5
11 Jail 6
8
8
8%
673 Kerr Lake____________
8
8
7 % J ’ ly 5
8
8%
7's
i
16 Jan
74% D eo
44
94*2 Jan 22
6,752 Lake C o p p e r. _ .
25
44% 45%
4314 45
40*2 J ’ no 10
42% 447*
46
i
io-% J ’ly
19*8 Deo
766 La Salle C o p p e r ..
19 Jan 11
10
10*2 *10
25
10
101.,
10 J ’ ne30
10% 10%
10*2
414 M ch
8% Jan 22
18% M ay
•
*7
7
270 Mass C on sol_________ _ 2 5
4% M ch 8
8
7
7
7*4
7%
7%
.30 A p r
17g J an 13
1 D ec
M ayflower ................... 25 .50 M ay 6
Last Sale .50 June’ 10
* .50
.55 * .50
.65
«
3*2 A p r
6 Jan 7
6 N ov
.50
.60
1,360 M exico Cons M & S . . 10 .6 0 J ’ly 7
.80
.87 * .60
.75
.50
.50
1234 Feb
29 Jan 4
i
18
18% 18%
5
28*g D ec
2,673 Miami C op per________
18
181?
18%
18%
18
J ’ly 6
19
6*4 O ct
8*2 Jan 21
4
4
4
4 J ’llO 30
*4
4
n o M ich ig a n ____________ _ 26
13% Alch
5
*3%
4%
•
75
Jan 22 *57*2 J ’ ly
45
45
70% Jan
47
47
*47
230 M ohaw k______________ 25
45
45
48
45 J ’ly 6
2 7 % Jan 11
•
177g 18%
177g 18*g
16*2 Feb
18%
5
30 N ov
18% 3,132 N evada C o n so lid a te d .
1 7 % J ’ly 5
17% 18‘>,
1 0 % Jan 12
*4
4
3 1? N o v
4
4%
4%
4
4
J ’no30
41*
300 New A rcad ian C o p p e r .25
8% D eo
4
12 Alay?6
10-% 107g
103j
984 Jan 17
9% O ct
13 Sep
10-3.1 11
10-% 107*
10% 1,354 N lplsslng Alines______ 5
50 Jan 3
21% 22% X21
18 J ’ nodO
47 D eo
20% 21-%
0,609 N orth B u tte _________ 15
23
85% Jan
20U 21
25% Alch 7
9%
9%
8 Jan 3
4*2 M ch
9%
934
25
10
10
93,
590 N orth L a k e ...............
11% A u g
9%
1234 Jan 14
61.,
G% 6%
6% J ’ n e 30
45 (M idw ay M in ing___ ___ 25
5% N o v
14% D eo
*614
7
6%
!
1% F e b 1
____ .50
Last Sale .50 June’ 10
.5 6
J ’no 8
.40 J 'n e
.90 D ec
Old C o lo n y ____ . . . . . 25
!
.50
|
66
Jan
3
331.,
33%
33%
33
291? J ’ no 15
69 A u g
32
34
34
710 Old D o m in ion ________ 25
47% F e b
32
122 122
120 120
170 D eo
122
115 O s c e o la ______________ 25 * 1 2 0 J ’ly 6 160 Jan 3 122 F e b
*120 120
122
12
12% 13
2134 Jail 3
12
19 D ec
36% J ’n«
13
13
12*2
40 Earrott (Silver & Cop) 10
12
J ’ly 6
12*2
07
68
68
67
92 M ch «
83 D ec
09 Jan
66
67
*68
70
120 Ju ln cy________________ 25
66 J ’ ly 6
16
16
*16
163,
236
16
16
17
17
134
2*4 Jan 3
13,
*1%
2
1% N ov
27g Jan
126 Santa Fe (Gold A Cop) 10
lio J ’ne30
*1%
2
1%
1%
834
18 Jan 3
834
9%
9%
9**
13*2 F eb
93., 1,805 S h a n n o n _____________ 10
17% Jan
9%
8% J ’ly 6
9*2
1%
*1
*1*4
1*2
50
11?
1*4
08% Jan 14
39%
39
39*4 39*4
34 Jan
39
39
37
J ’no30
67 D eo
40
40%
440 Superior_______________25
18 Jan 12
8%
8%
83,
13% N o v
81,
j 650 Superior & B oston Min 10
812
81*
8 I4
18*2 Alay
s J ’ ly 1
9%
9% 10*g
16% Jan 10
12% Apr
97*
9%
9
10
10
2,014 Superior& P Itts C o p p . 10
18*2 J ’ly
9
J ’ly 5
62
60
50
78 Jail 6
62 J ’ ly
*48
48
49
45% j ’ n e 22
60
60
90 F eb
n o T a m a ra ck ____________ 25
6%
5
11% Jan 3
*5
5%
5*4
9% D ec
51*
5
M ay 4
5*4
5*4
390 Trinity________________ 25
17% Jan
Last Salt 35
40% F e b 16
* 3 4 % 351?
*34
35
33 M ch31
28 Jan
Juno’ 10
U n Ited S ta tcsCoa l & Oil 20
39*2 N o v
36
36
373.1
56 Jan 3
36
36|4
37
36
39 F eb
36*,| 2,441 U S Sm elt R ef A M in . 50
36
J ’ly 6
59 Sep
47% 47*4
47
47%
63% Jan 3
4712 473,
47%
Do
p re f___________50
44 dan
64 O ct
47 j ' l y 6
47% 1,065
6% Jan 3
*3*4
3%
3
3
5
G34 Jan
3%
2 % M ay 4
4 O ct
3'g
3
3%
790 U ta h -A p e x Alining___
193g 201*
19
20
20
19
46 Jan 3
5
20*, 1,003 Utah C on solid ated ___
493j N o v
is*? J ’ neao
20*4
37*4 Feb
40% 40%
40% 40%
G0% Jan 8
40%
40% 401?
68 Utah C op per C o . . . . . 10 /i39% J ’ n o 30
40%
3934 F eb
66 N o v
3
33*
*2%
3*8
3%
5% Jan 14
*2%
V ictoria _________ . . . 25
6 D eo
3
2% M ay 5
3 O ct
*2%
6
*6
6*?
6
0
0
15 Jan 14
<-13% D ec
6*4
6*4
6 J ’ 116 29
43.. A p r
260 W in o n a _________ . . . . 25
104 105
105 108
108 108
103*2 105
216 W o lv e r in e _________ _ 25 103% J ’ly 8 1 6 0 Jan 0 139 Alch 168 A u g
2
Last Sale 2
*1.3g
2
*1%
4
Jan 1
.July’ lO - - - - W y a n d o t ____________ 25
1% M ay 5
3% Jan 14
2 O ct
a B efore p a y 't o f assess'ts called la 1 9 0 9 .
' B id and asked prices, d N ew sto c k . a Ass’ t paid, b E x -s to c k d lv . It Ex rights, a K x -d lv . a q U rights.
1
i

_

_

K

h.
9

C

8

7

55
g

o
%

__

i




1*

83

__

Boston Bond Record

J^TjY 9 1910. i
1JOADS

BOSTON STOCK EXOH’da
W

h ek

J

e n d in g

0

uly 8

B rice
F rid a y
J u ly 8

W eek's
B a ngs or
Last Sale

1-8

^
B a ngs
l l s 1 Since
J a n u a ry 1

87

bon us

Brice
F rid a y
J u ly 8

BOSTON STOCK E X C H ’ GE
w e e k E nding J u ly 8

Utah. NoAJtOw -High.
A 8 k L ow
\ B ia
Illin o is Steel d eben 5 s___ 1913 A-O
A m A g r ic u lO lic m 1st 5 s ..1 9 2 8 A -O
101 J ’l y ’ 10 . . . . Il00*4 103
A m 'l'elep * Ten c o ll tr 4 s . 1928 j . j
8 0 ’s
90<*8 84 89 te 93*4 l a F alls itoSioux C is t 7 s .. 1917 A -O
'b o ' Sale
K an O Clin A Spr 1st 5 s . . .1 9 2 5 A O
C o n v e rtib le 4 s ....................193(1 M- 8 100 Sale 1 0 0
10 0
80 99 ®» 100
K an C F t 8 (to G u ll e x t 5 s .. 1 9 11 J-D
83 M ar’ 09
A m W rit Tuner 1 at s 15s g 1919; j . j
K an C F t S c o tt A M Os. ...1 9 2 8 M-N
104 M ay'10
A m Z in c L A S deb 0 s ....l 9 l 4 | J .J
104 158
152 F o b ’ 10
A riz Com C oy 1st c o n v Os 1918 M-S
162 107*3 K an O M A B ge n 4 s ...........1934 M-S
A sse n te d in c o m o 5 s ........1934 M-S
A ten T o o & S F o g o n g 4 s .. 1995 a -O
988s
98*3 99*4 98**s
08*4 101 s8
A d ju s tm e n t g 4 s ____J ’ ly 1995 N ov
88*3
8 8 *3
88*3 94 'a K an C & M Iiy<& B r 1st 5 s l9 2 9 A-O
88*3 90
94
943b M aine C en t co n s 1st 7 s ...1 9 1 2 A-O
9 i 3g M ar ’ 1 0
S t a m p e d ..................J ’ ly 1995 Al-N
8 8 *a 90
Cons 1st 4 s ........................1912 A-O
119 D eo '09
50-year c o n v I s ..............1955. J-D
117*3 117*3 M aro H ough<feO ut 1 s t Os.1925 A-O
10-year c o n v 5 s .............1917 J-D
98
117*3 E o b ’ 10
M ass G as 4 *3 8 ......................19291 J -J
A t l G u ll A W I SS L in es Os.’ 59 J-J
05 Bale
04*3
05
04*3 73
M toll T e le p ls t 5 s .................1917 J - J
lit )
F e b ’ 04
B oston E le c t I. c o n s o l 6a. 1924 Jl-S
M in n e G en E le c c o n g 5s 1929 J .J
B oston A L o w e ll 4 s ..........1910 J - J
1 0 0 * 4 M ar’09'
N e w E n g Cot Yarn 5 s___ 1929 F-A
B oston A M nino 4 * 3 3 ........ 1944 J -J
104 *3 O ct ’0 8 ;
N o w E n g T elop li 5 s........... 1915 A-O
1 1 2 * 3 Jan ’ 03
B oston T erm in al 1st 3*38.1947 F-A
f i s . . . . .....................................1910' A-O
103 F e b ’ io !
B u r A M o E i v con s Os ....-1 9 1 8 J -J
103 1 U8
N e w E n g la n d c o n s g 6 s ... 1945 J -J
B u tte A B oston 1st Os___ 1917 A-O
TOO J ’ u o’0 1 1
B oston T e r m 1st 4 s ........ 1939 A-O
B u tto E lec A l ’ ow ls tg B s .1 9 5 1 J-D
N e w Itiv e r (T h e) c o n v 5s. 1934 J .J
Cedar K ay A M o it 1st 7 s .1910 M-N
113*3 114
113 *3 M ay ’ 1 0 .
N Y N 11 (to 11 co n deb 3 *2 S l 9 o iil J .J
C en t V erm t 1st g 4 s ..M a y l 9 2 0 Q -F
85 *a 87
85 *3
85*3|
85
88
C on v dob Os ( e f t s ) ..........1948! J .J
O it A Q Iow a D iv l e t 5s. 1919 A -O
11103 O ct ’ 071,
Io w a D iv 1st 4 s ..............1919 A -O
98*3 J ’ n e’ 10 ,
98*3 98*3 Old C olon y gold 4 s ............. 1924 F-A
D eb en tu re 6 s ................... 1913 M-N
l o 1**4 M ar TO
' 101*3 101**4 O reg B y & N a v con g 4 s ..1 9 4 0 j -1)
D en ver E x te n 4 s ............1922 F-A
09*8 09*4 O reg 81i L in o 1st g Os........1922 F-A
99*8 F e b ’ 1 0 .
N ebraska E x te n 4 s ........1927 M-N
99
99*8 P e r o M a r q u e t t o d c b g 6 s . . 1912 J . j
99 M ar’ 10 .
K eyu b V a lley 1st s i O s... 1919 J -J
B A 8 W s I 4 s................. 1921 M-S
99 O ct ’ 09 .
Illin ois D iv 8 *as..............1949 J -J
80 38 8 8 :*b R u tland 1st c o n gon 4*3S.194L j . J
8 0 b8 M ay’ 10 ,
H utlaud-Canadinu I s t 4 s l 9 4 9 J -J
Chiu d o lty A Stk Yus 6s .1915 J-J l o o t , l o o t 100*4 l o o t ) 1
, 100 >g 1 0 1**4
C oll trust r e fu n d in g g 431940 A-O
91
92*8 Savannah E lec 1st co n s 5 b. 1952 j - J
01 A p r ’ t.0.
Ch M il & S t I’ D u b D Os.. 1920 J - J
I I S ’s J a n ’ 10 ,
116*3 115*3 Seattle Eloo 1st g 5 s ......... 1930 F-A
S lia n n o n -A n z 1st g Os___ 1919 M-N
Ch M * St T W ls V d iv 0 s l9 2 0 J -J
120 F o b ’0 5 .
Ohio & N o M ien 1st gu 5s. 1 9 3 l M-N
99 100*3 T c r r o H au te E le c g o s . ...1 9 2 9 J.J
99 M ay’ 10 ,
97 100
T ovrin gton 1st g 5 s........... 1918!M-S
Ohio (to W M id i gen 6 s . ...1 9 2 1 ,1 - d 100
100
100
100 104
U nion Pao B R J i 1 g r g 4 s . 1947' J -J
•C on cord A M on t con s 4 s ..1 9 2 b 1J -D
91 D e c ’0 7 .
2 0 -y e n r c o n v 4 s ................ 1 9 2 7 'J -J
. Conn * Pass U 1st g 4 s . .. i 8 4 : ;A - 0 .................
112*4 J a n ’ 03 .
U nited F ru it g e n s £ 4 *4 8 . 1 9 2 3 J -J
Cudahy T a cJ c(T h e)lst gO s 1924 M-Ni 9 9 a4 100 100*4 A u g’09 .
U 8 Coal & O il 1st s 1 Os.. 1938 M-N
99
99
C m r e in itiv e r 1st 6 s ........ 1927'A -O ....................
99 A u r ’ 10 .
U S Steel C ory 10-00 y r 5s. 1903 M-N
89
90
89 M ar’ 10 .
D ot O r R ap A W 1st 4 s . .. 19 to A-O
88
94
D om inion Coal 1st s t 6 s ..1 9 1 0 .M-N
97*3 98*3 90*3J ’ n e ’ 10 .
90*3 98a4 W est E nd S tre e t B y 4 s ___ 1915 F-A
G old 4 * 2 8 ............................. 1914 M-S
F itc h b u r g 4 s ....................... 1916 M -S !
......... 10J >e A pt ’ 06 .
G old d o o e n tu ro 4 s ........... 1910 M-N
4 s ........................................ 1927 M-S
90 A y r ’ 08 .
G old 4 s .................................1917 F-A
F rcm t Elkito M o V 1st O s..1 9 3 3 A-O .....................133 M ar’ 99
W estern T olepli (fc T e l 5s. 1932 J .J
U nstam yeu lBt Os........... 1933 A -O ...................... 140 A y r ’ 06
G t N o r C B & Q ooll tr 4a 1 9 2 1 'J - J ; 91*3 Sale i 94*3
95
14-1 9 4 * 3 97 *s J W isco n sin C en t 1st gen 4 a l9 4 9 J •J
9 4 * 4 ...........| 94> 3J’l y ’ 10 ___l| 94*3 90»3|
R eg istered 4 s ................... i 9 2 i iQ - J i
N o t e —B u yer pays a oorued ln to re st In add ition to the purchase p rlco lo r all B oston B on ds.

B a n ge
Since
Jan u ary 1

Low
Jtiigti a-NO Low Jtigh.
100*3 100*3
2 10 0
10 1
117 A p r ’ Oi
93** Alar’ 10 .... 93*8 97
9 9 *4 F e b ’ 10
99*4 99a4
113 J ’n e ’ lO
113 118
93 ' " i
23
93 *3
93*4......... 93
91a, 92
91 ** J ’ n e ’ 1 0
91
92
1O l3, 104 103 M ur ’ 1 0
102 103
113*8 N o v ’OO
101 *4 Sep *05
115 J’ iie’t'8
98
98
’ 12 *9*77i 99a4
99
99 S,
99 **A p r ’ 10
102*3 A i.g’ 04
100 *3......... 1 0 0 a4 J ’ n e ’ 10 mmmJ 1 0 Ua4 105
102 F e b ’09
1 0 0 * 3 Sep ’ 08 * 1

B ia

00 ......

W eek’ s
B ange or
L a st’ Sale

10 0

ask

10 0 *2

I

77 A p r TO —
77
79*2
98*3 Alay'lC
98*2 1 0 2
131 133 13478 M a r’ 10
134
135
101 A p r ’ 09
9 8 78 Sep ’ 09
iVo^ i Yo'^
1103s F e b ’ 10
99 A lai’ 10 ::*: 98*2 99
1 0 2 * 4 ......... 105
D e c ’ 08
107*2 N ov’ 05
102 M a i’ 02
78*2 A p r ’ 10
78*2 78 *3
104 105
103*2 Alar ’ 1 0
103*2 104*4
90 Alay’ 10 mmmj 90 110
.V
j
97 A p r ’07
100*, Afa r TO . . . . ' 1100*4 1 0 0 a4
9 9 78 A p r TO . . . . 99*8100*8
108 as A p r TO ....-1 0 8 3 8 109*8
OS’ s 90
95*8
95*4 8 ' 05*# 00*8
138 143 165 M ar’ 10
15 3 101)
10 1*3
102
9 1 0 1 * 3 106*3
97 J ’ u e’ 10 . . . . ! 97
98
101 a4 J ’ ue’ 09
98*2 Apr TO
9 8 T 99*8
98
99
93 A p r '1 0
9 5 34
90
T o 94*3 99
90 Sale
943* Od3*
9438 Jan TO
--------

77*3

...........

» N o prioo F rid a y ; latest bid and asked.

11 F lat price.

PhiladelDhia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
H lia ro T r ic e s — N ot T e r C e u tu in T r ic e s
S a tu rd a y
J u ly 9

M on d a y
J u ly 4

M
M
O

j
s

to
0

•
J
H
%
O
M
►0

w
ti
1
t?i
n

fei
O
tt

u
Q
a

► 3

>
w
0

a
D
>

t>

ft

0
h
•
|
•
i

T i l I L A D E L T 1 I1 A
i u a c l i v o r t io c h s
A lleg h en y V al p r e f .. ..5 0
AmaL A sb e sto s C o r p .iu o
P r e f e r r e d ...................too
A m erica n A llllm ? ........10
I m e r P ip o M f g ......... 100
B o ll T e le y h o n o (P a ). 100
C am bria I r o n ................. 50
C en tral Coal A C ok e. 100
C on sol T rue of N J . . . 100
E a ston Con E le c tr ic 6.00
F t W ayne & W V ........100
G erm an tow n P u ss........60
In d ian ap olis S t ........... 100
In dian a U nion T r ___ 100
In s u ra n ce Co o f N A . . 10
I n t e r S m T o w * Chem .50
K eyston e T elep h on e ..5 0
P r e fe r r e d ..................... 60
K.e,yatonoWat<iliCnse.lOO
Leii Y a ll T rail v t 0 ...5 0
P referred v t o ...........50
L it B r o th e r s ................... 10
L ittle S c h u y lk ill........... 60
M lnehU l & B ch u yl H ..5 0
N l ia v e u Ir o n <to S to o l.6
N orth ern C en tral......... 60
N orth P e n n s y lv a n ia ..6 0
P en n s y l lt l t r e c e ip t s . . . .
P e n n s y lv a n ia S a lt........50
P e n n s y lv a n ia S t o o l..100
P r e fe r r e d ................... 100
P h ila Co ( l ’ rtts) p r e f ...5 0
P h il G erm an & N o r r is .50
P h ila T r a c tio n ............... 50
R a ilw a ys G en oru l........10
gU squoh Ir o n A S t e e l ..0
T id e w a te r S te e l........... i o
P r e f e r r e d ..................... 10
O u lon T r ot l u d ......... LOO
U n ited N J U R A C . . 100
U n it T ra o P itts p reC „50
W a rw ick Iron A S t e e l.10
W e s t J e r s e y A S e a S h .6 0
W estm orela n d C oal....6 0
'W ilkes G as A E l e c . . 100

T u esda y
J u ly 5

*

60

00

125
22

126
22
43

♦18*3

W ednesday
J u ly 8

A C T I V E MTOOKLS

T h u rsd a y
J u ly 7

::::::::::::
124 126
12 0
129*3
* ......... 22
♦ ..
21*4
*......... 42*3 * .
43
14
*13*2

( L o r B on d s an d In a ctive
M ocks see below )

F r id a y
J u ly 8

*19
*40
14

21
42
14>3

*10

20

.........

19*4 19*4
43
43
43
42*« 42 4
43
11*8 *11*8 11*8
49
40
4/
22 *3
21*8 22*3
05*4 00*3
07*3
.........
7
7
107« 1 8 4
l (i78 18*4
80a< 87 4
89
88
0 9 ’ » 73 4
75
72
04
04 *8 03*8 04*4
42
43
42
14*8 14*4
14*3 1478
18
18 *(*
18
18*3
09*8 71 38
70»®18 72*3
84
84
84
44 4 41*3
44*3 44 4
80*4 81
80*3 8 1 7e
♦42
42*8
♦ 11*4
40 *2
21*2
07

B id

A sk

42
42*4
*11*3
47*2
2 2 7s
00

4 2 7e
43
1 13,
49 4
23
003g
........
18''*8
87*4
73
«43i8
43
14*4
18*4
71 a4

18
87*4
72
G334
42
14*8
18*3
71
84
8*3
45
45
80*4 81*8

P H IL A D E L P H IA

B onds
B rices are a ll “ and
interest."
......... ......... A lt A L V E le o i *2s’ 33.F -A
A m G as A E lec 5 s'07. F-A
A m Kys c o n v 58 1 91 1. J-D
A tl C ity 1st 6s g ’ 1 9 .M -N
B e r g A E B r w ls tO s ’ 21 J-J
7 94 81
B etliie Steel Os 1 9 9 8 .Q -F
72
O hoo A Ale 1st 6s 1U49 J-J
......... Ch O k A G ge n 5s T 9 J.J
C ol St lty 1st co n 6s 1932
C o n T r a c o f N J 1st 5 s .'33
K A A 1st M 5s 1920 M -N
E le c A P o o T r stk tr c tls
E q II G as-L 1st g 6s 1928
20
Indian ap olis lty 4 s .1933
16
8
0*3 In te r s ta te 4s 1943 .. F .A
L eh igh N u v 4*2 8 ’ 14.Q -J
B it s 4s g ....... 1 9 1 4 .Q -F
4
G on Al 4*38 g . 1 9 2 4 .Q -F
L eh V C 1st 5s g ’ 3 3 ..J -J
Leli Y o xt 4s 1st 1948. J-D
10
2d 7s 19 1 0 ................. M -8
69*4
C on sol Os 192 3........J-D
A n n u ity Os............... J-D
i'io ’*, " I I I !
G on c o n s 4s 2 0 0 3 .AI-N
99
L eli V T ra n co n 4s ’35 J-D
N ew Con Gas 6s 1948 J -D
108 109
N e w a rk P a ss co n o s 1930
N Y P li A N o l s t 4 s ’ 39 J-J
105
In c o m e 4s 1 9 3 9 ...M -N
43
N o O h io T ra c con 5a’ 19.J-J
42*3
147 148*3 P e n n go n Os 1910 . . . V a r
C on sol 5s 1919........V a r
84*4
l ’ eun A M d S teel c o d Os.
P
a
A N Y Can 5s ’ 39. A-O
.........
Con 4s 1939............. A-O
.........
P e n n Steel 1st 5s T 7 Al-N
c o p lo ’ s T r t r c e r ts 4 s ’ 43
......... ......... P
P Co l s t A co l tr 6 s’ <19 Al-8
c o n A co l tr 6s 195 1M .N
P h il Eloo gold tru st c tfs .
10
T r u s t co rtlfs 4 s ...............
62*4
P A E g o n Al 6 g ’ 2 0 . A-O
......... 90
G en Al 4s g 1 9 2 0 .. A A O

I
B a lt im o r e
42 Con. G as El. L. A T ow .lO O ; 40 M ar21
....... !
D o p r o f....................... 100 80 M a r ll
778 N orth ern C e n tr a l......... 50 115 Jan 8
Feb 8
200 Seaboard ( n e w )................. 1 0 0 22
___
__ p r e...................
Do 2d
f............... 100 43 Jan 25
028 U nited lty (to E lo e tr io .. 50 126s ^ a y 8

00
00
*87*3 88

♦42*a 43
43
43*8
11*^1 11*8
49
50
22**, 24*,
07
08*3
*8
9*3
18’ ,
18
87*3 89*3
72*3 74 >4
04*4 01**18
43
43
14*8 14*e
18»8 19%
71 *>4729*io
8 38 8*8
4 5 *4 4 0 *3
81
81’g

T h ilu d e lp liln
20 A m erican C e m e n t......... 60 18 J ’ n o l?
90 A m erican H a llw a y s .... 60 42 J ’ly 7
3,120 Cam bria S t e e l ................. 60 41*3 J ’ ne30
1 1 * J ’l y l
100 E le o tr io Co of A m e rica 1'
42 J ’ ne30
1,172 E leo S torage B a tte r y ..10'
3,060 G en A sp h alt tr c tis . .. .1 0 0 19*8 J ’ ne30
05*, J ’ ly 0
2,900
D o pref tr ctfs ... .1 0 0
7 J ’ly 6
60 K eyston e T e le p h o n e ... 60
4,287 Lake S u p erior O orp___ 100 15*3 J ’ne3U
813 L cn igh C (to N a v t r otfs. 60 86 J ’ ne3o
22,990 l.o h ig h V a lle y ................. 60 U69*»4 J ’ne30
2,723 P en n sylva n ia B i t ......... 60 (S33* J ’ly ti
818 PlU ladolp'aC o (P lttflb ). 6 0 42 J ’ ne3u
2,U(5o P h iladelphia E le c tr ic ||. 26 U 3 7» Feb 3
3,160 Phila R a pid T r a n s i t .. . 50 15 A p r2 8
4,094 B e a d in g ........................... 60 09^8J ’ly 6
2,930 T on opah A lin in g .........
1
0*3 Jan 2*
1,044 U nion T r a c t i o n ............. 60 42 A p r 28
4,76q| U nited G as I m p t ........... 60 x80 J ’ ueJO

I B id I A s k

81*3
97",

102

82
98*4

3,

103"
" 8 9 7s
60

107

146

95*4

l ’ H H < A D K L l> H IA

I B id

IA s k

28 Jan 3
50 Jan 6
58*3 Jail 10
12 *3 Jan 14
C l *4 M a r ll
34** Jan 29
81*4 Jan 10
13 o a n l o
28*4 Jan 3
123 Jan 7
121*4 M arla
C93i8 Mar 9
63 *4 Jan 8
1 0 * 4 Alar 18
28*3 Jan 3
80 Feb lt>
9*io Alayl3
5234 ja u a
90 *s Jan 10
B A L T IM O R E

Clias C ity B y 1st 5a’ 23 J-J.
i ’ ll A Bead 2d 6 s '3 3 . A-O
Clias By G A E l6 s ’ 99 M -S
Con M 7s 191 1..... J-D
Chari C A A 2 d 7 sT 0 A -O |
E x Im p M 4s g ’ 4 7 . A-O
C ity A S u b 1st 5 s . . ’22 J-D
T erm in al 5s g 1941. Q-F
C ity A S u b (W a s ) ls t 6 s ’ 48
P W A B col tr 4s ”21. J-J
C o a lA I B y 1st 6s ’ 20 F-A
P ortlan d lty 1st 5s 1930.
Col A G r u v Is tO s .1910 J-J ’
Hocli B y A L c o n 5 s ’ 51J-J
S pa n ish -A m I r Os ’ 27 J-J
.101*3 C on sol G as O s...1 9 1 0 J-D
5 s .................. ...1 9 3 9 J-D
I_____!
U l ’rac In d g e n 5 s T 9 .J -J
G^ A A la 1 st con 5s ’ 45 J-J
U n Ilya T r c t fs 4s’ 49JA J
72
G a C a r A N l s t 5 s g ’ 29 J-J
U n ited Ilya I n v l s t c o l l t r
G eorgia P 1st O s ...’22 J-J
s f 6 s 192 0................Al-N
78*3
G aSo A F la 1st 5s 1946J-J
U T r a c P it g o n os ’ 97 J-J
G -B -S B re w 3-4s 1951AX-S
W olsliach s f 5s 1 93 0.J-D
2d in co m e 5s 1961 AI-N
W lk s-B G A E con 5 s’5 5 J-J
K u o x v T r a c 1st 5 s ’ 28A .O
B A L T IM O R E
L a k e B E l 1st g u 6 s’ 42AI-S
I n a c t iv e (S tock s
Alacon K y A L t ls t 5 s ’ 53J-J
A la C ons C oa lA Iron . 100
Alem phis S t 1st 5s’ 45 J-J
P r o f .............................. 100
A Ie tS t(W a sh )lst5 s’ 2 5 F A
A tla n ta A C h a rlo tte .. 100
M t V e r C ot D u ck 1st o s .
A tla u Coast L (Couu)lOO
N p t N A O P 1st 5s’ 38 M -N
C anton C o .....................100
N o rfo lk St 1st 5 s ’ 4 4 ..J-J
6
C ons C ot D u ck C o r p ...6 0
N o rth C e u t4 *2 3 1925 A-O
P r e f e r r e d .....................50
20
Series A 68 1 92 0___ J-J
30
G eorgia S ou A F l a ...1 0 0
Series B 6s 1 9 2 0 ....J -J
92
1 st p r o f....................... 1 0 0
P itt U n T ra o 6s 1997.J-J
70
2 d p r e f........................ 1 0 0
P o to V al 1st 5s 1 9 4 1 ..J-J
G -B -S B r o w in g ........... 100
1
Sav Fla A W est 5 s ’ 34 A-O
B onus
Seaboard A L 4s 1950 A-O
B rices are a ll “ and
Seab A K oan 5s 192 0. J-J
in terest."
A n a co stla A P o t 5 s........... 101 101*3 Sou th B o u n d 1st 6 s ..A -O
U E l L A P lst4*3S’ 29 M -N
A tl A Ch o x t 4 *38 TO . J-J
U n R y A E l 1st 4s ’49 M -S
A tla n 0 L B lt4 s l9 6 2 M -S *92*4
In co m e 4s 19 4 9 ........J-D
A tl Coast L (O t)c t fs 6 s J-D
F u n d in g 6s 1 9 3 0 ...J -D
C tfs of iu d o b t 4S.....T -J
V a Alid 2d ser Os ’ l l . M - S
89
6-20 y r 4 s 1 92 5......... J-J
3d aeries Os 1 9 1 0 ..Al-l
B a lt C Pass 1st 5s ’ l l Al-N 100 100*4
4th ser 3-4-5s 1921.AI-S
B a lt JTuildg 5 s .1910 AI-N 104
6th scrie s 5s 1 9 2 0 .AI-S
93
03*3
E x ch a n g e 3 *2 8 1930 J-J
V a (S tate) 3s new ’ 3 2 .J-J
B a lt A P 1 st Os 111 I ’ l l A-O
Fu nd d e b t 2-3s 1991. J-J
91 *s 92 *4 !
B S P A C l s t l *38 ’ 6 3 F -A
W e s t N O co n Os 1914 J-J
B a lt T ra o l s t o s . . ’ 29 AI-N
W e s Va C A P 1st Og’ l l J-J
N o B a lt D iv 6s 1942 J-D ib‘5 " i i o
W U A W e ld 6S ..1935.J-J
C e n t’ l B y c o n 5 s l9 3 2 Al-N
E x t A Im p 6 s . 1932 Af-S

106

103
95*3
102*4 102*3
75
74

30 Mar, 48 D eo
70 Mar 89 May
100 Jail 121 *3 Deo
1 U*4 Feb 28*4 nee
22a4 Feb 48 Deo
p**4 Feb 14 *3 Deo

B id

A sk

92*3
105

too

107

*01
100

100
107 *-i
102
104
111)
100*8
413,
7
103
105

108
102*3
104*4
114
10034
8
106

98
106
70
1'6

99
1U9
70*3
to o

10U
100
100
105
1024
107
82*s
103
103
89
83*4
674
S0a4
100*3
102
103
104
85
85
103
10034
107

105
89*3
8 3 34
6 7 a4
81

83

90
80
100
100 7»
110

* Bul aud asked; no sales on tills day. HEx-rlghts. || 15 paid- f $12*4 paid. ♦i?13*a paid. } $35 paid, a Receipts. 6 $25 paid. c$30pald. d $ 12 T paid.




88

THE CHRONICLE

Volume ot Business at Stock Exchanges
TKANSACYTONiS A t THE .N vV YOKE. STUCK HXOHANU1S
D AILY , W EE K L Y ..N D Y E A R L Y

Week ending
July 8 1910.
Monday

_

Stocks.
Shares.

_.
805,956
922,400
500,820
679,766

W e d n e s d a y ________
Thursday____________
F rid a y _________ ____

Railroad,

Par value.

Bonds.

HOLI DAY
HOLI DAY
31,402,000
$72,197,500
1.955.000
81,545,000
1,609,00(1
50,820,100
1.668.000
60,481,200

T o t a l....... ................

2,975,005 S265,04E40:

Sales al
New York Stock
Exchange.

Week endim J u h

8.

State
Bonds.

U. S.
Bonds.

S3,000

1,S42,480
Stocks— So. shares__
2,9/5.005
Par va lu e__________ 5265,044,-100 >174,106,625
82,006
Bart.: shares, par_____
55.500
Bonds.
S5.000
53.500
Government bonds___
604.000
740,500
State b on d s__________
19,425,500
6,604,000
HU. and ml33. bonds.

101,637,260
$9,146,177,325
5677,700

101,753,020
59,317,226,705
852,801

S241,500
28,004,700
340,930,500

8207,700
22,476,700
731,171,401

820,034,500

8378,236,700

3753,855,800

87.438,000

Total bonds.............

Bn
m e c t n c C om pa n ies
Chic E dison O o— See On. cago
Ur'c W est i ’ ow 5s '4 6 .J -J
95
s K ings Co E. L A P Go 109 1 2 1
Varragan (P rov) El C o .5 u ♦85
N Y A 19 E! L A Pow Cc 10 j
45
P r e fe r r e d ___________10*
VJ
United Elec ot N J ___ 100
75
1st g 4s 1 0 4 9 . . . . . J - D
75
W estern P ow er c o m . 100
28
49
P r e f e r r e d ---------------- 1Oo

le le g r a p h and Telephone
i Atner T eleg A C a b le . 100
s Central A So A i n e r .. 10 0
C oinin'! Un Tel (N Y i . 2;:
503 lim p A B ay S tate T e l .IOC
Franklin _____________ to o
$6,694,000
8740,500
83.50* .•Gold A Stocit l e l e ; .1 0 0
« N orthw estern T e le g . 50
Pacitic A A tla n tic ____ 25
Jan. 1 to July 8.
sP a c l ’eiep A T ele ; p t . 101
Southern & A t l a n t i c .. 2i.
S317,500
131.500
109.500
182,000

D A IL Y TRAN SACTIONS A T T H E BOSTON AND P H IL A D E LPH IA
EXCH AN G ES.

[VOL. L X X X X I.

l-crry C om panies
B A N Y 1st 6s 1911 _J-.j
N Y A E R Ferry s t k . 100
1st Os 1922___
M-,\
s Y A H o b 5s M ay '46 J-D
H o b Fy 1st 5s 1046 M-N
N Y A N J 5s 1946____ J-J
10th A 23d Sts F e rry .1 0 0
1st m tge 5s 1 0 1 9 . . J-D
e Union Ferry s t o c k . . 100
e 1st 5s 192 J_______ ,1 N

71
105
(55
40
105
105
60
90
91
24
50
94
102
95
35
60
28
94

1

.4 S'<
Bi
..r.k
in a u slria . and Aliscei
1st
1 C rucible Steel .
10 .
j n 4 1 1 )*>
96
c. P r e t e r r e d ___
io o
773.
>23
D V i:- D ;py C op per Ce.J.
i5w
383, ’■ D iam ond Match C o . 10^
55
lu P o n t d iD d e N e m P o io o 132
ioS
15
e Preterred
..
10
v.4
____
e G old 1 554 1 9 3 6 .. j - i .
^7
17
Electric B o a t_________ io o
32
P r e l c r r e d ___________ 1 0
L>0 "
51
Em pire S t e e l ________ 1 0 .
10
15
P r e t e r r e d ___________ 10
65
76
e General C h em ical___ I 0 u
85
94
e P r e f e r r e d ............... 1 0 *
75
10 2
118
G oldlield Conso A lin e s .lv
*8 0
1 B1 S
12 0
Gold llllt C op p er ____ 1
laio
Vov
lir e c n e -U a n a n c a ______2 u
7
viliggenheim E x p io r'n lOo m o
59
ISO
115
j H ackensack
W ater Co
R e f g 4s '52 o p '1 2 ..J - J
80
115
Hall Signal Co c o m . . 1 0 0
33
75
4lr
H avana T ob acco C o ._ lO o
5'2
'J
P r e fe r r e d ___________ 10*
lUO
i2
1st g 53 June 1 '22 J-D
02
6J
d e c k e r -J o ties-Jewell .MU
103
1st Os 1922............... M .
105
9.3
29
40
rier'g-tiall-.Y lar. u e iv.lO o
30
69
H oboken Laud A Im p lOu
c 5s 1910.......... ......... M -..
96
99?t
H ouston O i ___________lo u
0
5
P referred
________ 100
32
37
46
H udson R e a lt y ____
100 110
70
e lu g e rso ll-R a iid c o m . 1 0 0
93
32
e P referred
..
.1 0 *
97
97
in te rc o n tin 't'l R u b b e r. 10o
2 Hr -lb .
in teru at'i Banir’ g Co 100 n o
i n t e r n a f Mer Alar— See 8 tk Ex
99-ls Internation al N lcke. . . t o o
132 137
io o
P r e t e r r e d _______
98
'.0
02
9J3j
1st g 5s 1932_____ A-U
91
03
intern
ational
Sale____
io
o
90 b
8
1st g 5s 1951.......... ..A - c / 5 J
99*4
55
75
97*4 in tern ation a l S ilv e r._ 1 0 o
100b
P r e t e r r e d ___________ 1 0 0
103 n o
1st 6S 1948............... .J-l,
111)
Internat Sm elt A Uetg 10U 120
140
99
____ 150
iilternat
l
lnic
R
c
c
o
d
.
10*
99
P r e f e r r e d ___________10*
100
1013j
105
981; Jones A Laugiillu s te e l Cc
1st s f g 5s 19 3 0 -.M -N
100)2 10U2
99
40
4 >2% .’ L ack aw an na S teel___ lOo
c Tern new 5s 1960.51-..
86
112%
c
l
’em
d
e
b
5
s
l
9
1
5
..r
t
l
s
10 U8
Lanston M o n o t y p e ___ 100
81
81/ r
98
Law yers M tgc C o ____ I0J
140 245
97
98 14 Lch A W ilk e s-15 C o a l. 5o 250
c LortUard ( P) pret___ 10 J 11.5 160
101
Madison Sq G a r d e n ..1 0 0
30
40
_
2d 6s 1919............... Al-N
85
99 ;
*1%
l()0’)n M anhattan T r a n s i t ... 20
1>2
♦ 7
M onongahela R C o a l . . 00
P r e t e r r e d ___________50
-21
110
118
Kxc M ortgage B on a C o ___ 100
101 107
Nat Bank ot C u b a ____ 100
N at'l S u r e ty ___________100 250 260
e iVevada C orn 'd C op per j ♦I 8 I4 1838
N e v-U la li Min A S in . 1 0
5S
5
e New Central Coal . . 20
30
60
Uj N V Air B rake 6s— See Stk Exc list
N Y Blscu.t 6i 1011 .A l-S IOO
e N ew York D o ck ____ 100
26
40
e P referred ________ 1 0 0
73
list
83
N Y M tge A S e c u r ity . 100 200 .10
LI;
*41*
3 1 N V T r a n s p o r t a t io n .. 20
5D
N iles-U em -P on a c o m .l o u
98 101
73
N lpisslng Alines_______
a *106, 107,
*15s
O hio C op p er C o _______ lb
134
9.)
e O ntario S Iver_______ 1 0 0
2l£
2»4
Otis E leva tor c o m ____ ion
50
P
r
e
fe
r
r
e
d
_____
_____
1
0
*
91
98
ID;
Pittsburgh B r e w in g .. 5b ♦2M6
P r e fe r r e d ___________56
42b.
MVU P ittsburgh O oai— See Stk E xc list
Pope .dig C c c o m __
106
62
67
__ 82
p re ie rre d ____ ____ 10*
no
92T Pratt A W iiitu ey p ref-1 0 * ZlU.I
P rodu cers O il_________ lui
14 3 150
17 )
R ea lty A ssoc iB k iy n i.1 0 * 113 116
5 )
Royal Balt Pow d c o m . 100 18 t IJS
10)
Preterred
_
10* 102 106
12 2
ty>
Salcty Car H eat A L t-lO b 123 12/
¥ _ _ _ 05
Seneca M ln 'n g ________ 2 ..
103
Singer Mtg C o _____ . l o t
290 330
south Iron A .3 com
,10(
14
IS
** P r e fe r r e d ................. .lO o
63
43
120
lo
Standard C o rd a g e ____ 1 0 b
103
1st Al g 5s '31 r e d .A -O / 13
22
LOO
4
A d lust Al 5s A p r l 1931
list
/3
40
Standard Coupler com 10b
102
IOO
P r e fe r r e d ___________106
00
11
Standard Mill ug O o -.lO t
14
-10
P r e 'c r r e d ___________ 10 6
4J
46
78
S3
1st 5s 1930________ Al r
420
Standard o il ot N J — 10 : 610 615
13
Sw ift A C o— Sec Bust Stk Kxc list
lot
1st 5s-—o - e O hio s t o c k Ex*’ list
too
Texas C o m p a n y ---------10b
137 140
.j
1UJ 105
b T exa s A Pacitic, Coal lo o
88 • Title Ins Co ot N Y ___ 100 145 155
♦8 >8 8 :|8
9-b Touopfth Mm (N evada) 1
4
Trenton Potteries com 100
b
13
____ 00
Preferred, n ew _____ lo o
0611
Trow D ir e c to ry _______100
30
20
U n derw ood T y p c w pi 100 X 931j 991.1
109
Union ly p e u r lt e r comlOO
40
45
list
1st p r e te r re d _______ 100
107 111)
130
2d p r e fe r r e d _______ io o
107 111)
135
U n'teii Bit N ote C o r p . 5o ♦41
242
47
P r e fe r r e d ___
5u *51
U612
5!
U nited Cigar Alfrs.
10 0
105
686’ 70
5
e Preferred ____
ioo 10.. 195
171r Unlteil C o))per_______ lo t
-F>g 473
3 <4
P r e ie r r e d ____
mo
IS
15
U S C asualty___
mu 215
70
110
U S E nvelope c o m ___ 100
57
5J
120
P r e t e r r e d ____
.
m t 111 118
4
U S F in is h in g ________ 106
x'JA 193
Preferred ..............101
XL .3 113
39
1Jo
1st g os 101 j ______ J-J
J jj
Con ; 5s 102 9 ___ _ . J - j
95 100
U S Steel C o r p o ia t u n —
40
Col tr s t 5s '51 o p t 'l l
111 115
300
Col tr s f 5s 51 not op. l i t
115
72
U S T it Gil A lndcm _.1.0U HO 120
115
eU tah C op per C o— See Stii Kxc list
105
..
VVaterbti y Co c o m ___ m o
98
P r e fe r r e d ___________m o
93
\Vestchester A Bronx Tit
A Aitgo G u ar_______m o
100
170
W estlngh’sc A ir Brake 56 *133 1 3 5
46
\Vest F.l A Mtg 5s— .S’eeStk Kx j list
W orth in g P u m p p r o s .10* 104':
4

S h ort- le rm N otes
Am Clg scr A 4s 1 1_ H 8
987S
Ser B 4s M cli 15 '1 2 M-S
975»
Week endinj
9Jb
Balt A u h lo J ^ slO l. _J-i>
Bond,
Listed
July 8 1910.
Listed Unlisted
Unlisted
95b
detntoh steel tls ' K ___ 1-N
sales.
shares.
shares.
shares. shares.
sales.
Chic A A lto n 5s '13 M-S
983;
963.j
Cln H am A D 4s 191,j .J -. i
JlDLI DAY
Saturday____________
C C C A St L 5s, June '11 100D
HOLI
DAY
Monday_____________
H udson C om panies—
14,584
352,140
15,382
T u esd ay____________ 23,59
15,302
342,10.
6s O ct 15 1 9 1 1 ____ A -0
97
42,500
16,574
12,996
17,511
Wednesday__________ 21,641
144,300
6s F eb 1 1 9 1 5 ____ p-A
UGU
15,000
12,458
15,99/
15,376
9,872
T h u rsd ay___________
84,90* in te rb R T g Os lu l 1 _M-.\ 10ll8
10,742
58,500
20,044
34,006 A C R y A L ight 6s 12..\I-;
Friday______________ 22,38
17,316
971Minn A St L g 3s '1 1 . p-A
97
54,356 .3168,140
64,419
T o t a l ....... ............... 82,99;
60,001 8305,300 - N Y C Lines Kci 5s 19-22 44.70
Jan 191 1-1925____ 51.70
N Y N 11 A 11 5s '1 0 -1 2 lull's
St L A S F 4 J^s '12 o p .P - A
96-Ti
5s M ch 1 1913____ M-S
96
All bond prices are now "an d interest'’ except where marked " f . "
South R y g 5s 1 9 1 3 . . p -A
97
Tidew ater 6s, 1913 guar 100!-:
____
i\ a ba sh 4 H s ..1 9 1 .M -N
Street R a ilw a y s
Bid
Street R a ilw a ys
<J83j
W e s tT c Icp A T u s '1 2 . P-A
Pub Serv O orp N J (Com
New York Ci.U
W cstln gh 'o El AM Os 1919 100
Cons T ra ct ot N J ..1 0 0
BleeCk St A I'Ui F s t lc .100
16
70
73
1st 5s 1933_____ J - d lu ll * 102l2
1st m tge 4s 1950 ..J - J
50
R ailroad
N ew 'k P a s R y Os 30 J-J 10b
B ’ y A 7th A v e stk . . . 1 0 0 120
3 Chic G t W coin tr ctfs [Set Sloe..
R a p id T ran St R y . . 10 0 240
2d m tge 5s 1 9 1 4 ___J-J
08';
(.’ Preferred tr c tfs __I
list
1st 5s 1921______ A -0 101
Con 5.3 104.3— See Stock E xc
, C ldc Peo A St L —
J C H o b A P a te rso n —
B ’ w ay Surf 1st 5s gu l o o t 10 2
P rior lieu g l H s ' 3 0 . M-S / S7
4s g 1949.......... M-N
C en t- C rosst’ n s t k ___100
____
73
! Gou m tg g 5s 1 9 3 0 ..J-J / 50
So J Gas El A T r a c .1 0 0 1:.6
1st m tge 0s 1922 ..A l-N / 80
f __
In co m e 5s, J u ly 1 9 3 0
G 11 g us 1953___ M-S
Cen Pk N & E It s t k ., 1 0 0
18
97
V
C h icago S u b w a y _____ lo p
N o H ud Co R y 6s 14 J-.J ) 03
C h r’ t'r A 10th .St s t k . .1 0 0
80
Kansas C ity Sou 5s A p r 1
us 1928.................... J-J 101
Co'. A 9th A v e 5s See Stock E s c
1950— See S to ck Kxcu in
E
x
t
Os
1924____
M-N
08
D ry I H i 11 & 11—
N at R ys o£ .M exico— See S t Kxc
P a t C ity co:i 6s ’3 1 . J-D 112
1st gold 5s 195 2
J -l,
9S
N orth '11 Securities S tu b s . lbVl
2d 6s o p t 1 0 1 4 ..A - L 100
Scrip 5s 1 9 1 4 _____ P-A I 40
Pitts Bess A L E .......... _3u *32
So
Side
El
(C
h
ic
j—
See
Oh
icago
E ighth A v en u e s t o c k . 100 200
.>0 *6)
P r e le r r e u ___
Syracuse R T 5s ’ 4 G ..M -S lU) ;
Scrip Cs 1 9 1 4 ____ P-A / 05
e R ailroad Securities Go—
Trent P A H 5s 1 0 4 3 .J D
42d & Gr St F’ y stk ..1 0 0 200
III U stk tr ctfs ser A 52
83
U
nited
R
ys
ot
St
L—
42d St M & St N A v e . 100 ____
Seaboard C o m p a n y —
C om v o t tr c t fs ____ lo o
1st m tge 6s 1 9 1 0 .M-S ____
1412
1 st p r e lcrre d _______100
75
e P referred _________l o o
2d Incom e Os 1 0 1 5 .J-.J / 45
b4i£
C om A 2d prei— See IJal b KXi
Gen 4s 1934— See Stock EXC list
In ter-M et— Sec Stk Hscli ange
Seaboard A ir Line—
Unit R ys San Fran See Stk E xc list
L ex A v A P a v F 5s See Stk Kxc
Coll 5s e x t M ay '11 M-S
99*fi
Wash R y A El C o ____ 10 0
M etropol St U y— See Stk E xc
32
3 0 W est P a c 1st 5s ' 3 3 . . M-S
9 lb
P r e l c r r e d ___________ 10 0
N inth A v en u e s t o c k . .1 0 0 160
87
88
4S 1951______________J-L)
Secon d A v en u e s t o c k . 100
11
131S 841
Industrial and M iscel
1st.VI S s 'o o e x t ’ l l ) . . M-N
09 l
A dam s E xp g 4s 1047 J-D / 9Ck
'un- 11
Gas SecuriPes
Consol 5s 1048____ P-A / 50
.
A h m eek .Mining____
25 *
e Sixth A v en u e s t o c k . .1 0 6 120
A lliauce R e a lty ___
io o 12 )
New York
60
85
Sou llou lev 5s 1945___ J-J
A m erican B o o k .
io o 152
Cent U 11 Gas 5s 1927 . J - j 100 102
So Per 1st 5s 1010___ A C
88
92
A m erican Brass_______m *
11/
Con Gas (N Y >— See Stk Exc list
Third A v e n u e — See Stock E xc list
A m erican Ohlcie c o u i .l )* 216
e .Mutual G as__________ top 153 162
T a rry VV 1’ A M 5s 1028 / 50
80
P r e fe r r e d ___________I no
93
New A m sterdam G as—
Y k ersS tR K O s 1046 A C
75
85
A m G ra ph oplion e co m io o
1st consol 5s 1 9 4 8 ..J-.J
50
28th & 20th Sts Os 90 A - 0 1 15
99
98
P r e fe r r e d ___________ 1 0 0
N
Y
&
E
R
G
a
s
1st
5s
'44
J-,i
T w en ty -th ird St s t k . .1 0 0 20) 225
10J 103
Atner H ardw are . . . i o o
11/
Consol 5s 1945_____ J-J
95
U nion R y 1st 5s 1 0 4 2 .F-A 10) 102
99
Am M alting 6s 1 9 1 4 .. J-D lot
N Y A R ich m o n d G as. 100
W estch est 1st 5s '43 J - j
05
75
50
40
A iner Press A sso c’ n__100
1*5
N Y A W e s tch e s te r L 'h t'g —
Am St b ou n d new — See S tk EJ
Deb g Os 1954 g u a r .J -j
Brooklyn
08 101
Os 1935____________ A -0
10,
Nor Un 1st us 1 9 2 7 .-M -N
LSD 101
AU an A v en u e R R —
D eb 4s 1923________ P-A
6J
Con 5s g 1031.......... A-O
102 e Standard Gas c o m . .1 0 0
0)
55
A m erican S u re ty .......... 50
119
e P referred ................ 100
8 7-3
B B & VV B 5s 1 9 3 3 .. A - 0
l<7 102
A m erican Thread preL 0
♦4 b
1st 5s 1930................Al-N 192
B rook ly n C ity Stock__l<. 15) 165
A m T o b a c co Co c o m . . l o t
115
Con 5s— S .e s t k Exch ange list
Ainer T yp efd ers c o m . 196
49
Other C ities
B kln H gt- 1st 5s 1911 A-O
05 100
Preferred . .
____ 1 0 *
9.3
A m G as & Elec c o m . . 56 *11
Bkln (Jueens Co * S u b —
D eo g 6s 1939____ i‘il-N
03
P r e fe r r e d ____________ 50 *1 I
e 1st g 5s '41 o p '1 6 .1 - j
oo'i 102
A m er W riting P a p e r ..1 0 0
f is t con 5s ' 11 o p ’ 16 M-N
051; 971; A iner Light & ir a c t .-lO O 275
P r e lc r r e d .......... ......... 100
22
P r e fe r r e d ___________ 100 10.J
B klyn Rap T ra n — See Stk Exc list
1st s t g 53 '19 o p 09 J-J
871B ay S tate G as__________50
1;
C on ey Isl & B k ly n ..1 0 6
____ 76
A tlG lA V V In d S S L n c s . 100
1st cons g 4s 1948__J - j
73
Ulugh ton (N Y> Gas Wits
83
P r e fe r r e d ___ _______ 10b
16
80
Con g 4s 1955______ l-J
75
1st g 5s 1938............. A-U
Oo
Col tr g 5s 1959_____1 J
15
63
B rooklyn Un G as— SeeStk E xc list
Brk C A N 5s 1 9 3 9 .J-J
05 100
Barney A Sm ith C a r .. 1 0 0
2J
4b 5b
K ings C El 4s— See S tock E xc list
Bullalo C ity Gas stlt . . 1 0 0
P r e lc r r e d ___________10b
90
1st OS 1947— See Stock E xc list
N assau E lec p r e f_____ 100
-----Beth 'm S tcc' C o rp — Sec S tk Ex
96
5s 1044....................... A-O 103 10*5’ * Con Gas o l N J 5s '3 6 .J -J
9J
Bliss C om p a n y c o m . . 50 125
Consum ers' L 11 & P o w —
1st 4s 1051— s e e s to c k E x c list
P r e fe r r e d ___________ 5 0
125
95
5s 1938______________ l-Jj n o
N VV bg & F lat 1st c x 4 4 s
OU
Bond A Mtge G uar . .1 0 6 237
D enver Gas A E lec___ 100 150 155
Stein w a y 1st 6s 1 0 2 2 ..J -J 100 1U3
B orden 's Conil M il k .. 1 0 b 113
Gen g 5s 1049 o p .M -N
90
85
Preferred . .
_iu b 104
Elizabeth Gas L t C o . .1 0 9 3U0
Other Cities
♦ 17s
British Col C o p p e r___
*
Bu llalo Street R y —
Essex rc H udson G a s .i o o 134 1 3 /" Bu tte C oalition Alining 15 *17
Gas A El Bergen C o . .1 0 0
78
1st consol 5s 1 0 3 1 ..P - A 103 105
75
Casein Co ot A m c o m . 10b
105
* Gr R ap 1st 5s '1 5 . P-A
Deb Os 1017.......... .A - O 101
05 191
6!
P r e t e r r e d ___________1 0 0
132 137
C olum bus (O) St R y .. l O J soOI4 9/1 H udson Co tin s.......... .1 0 0
Casualty Co of A m e r . .1 0 0 125
Indiana L ighting C o . .1 0 0
34
P r e fe r r e d ___________ 1 0 0 103 100
31
12 1
C eilulo'd C o ___________100
4s
1958
o
p
__________
F-A
to
63
Colum R y con 5s— Sec Ph; la '1st
Cent Firew orks c o m . . 100
50
C rosst'w n 1st 5s '33 J-D
____
18
1)
l?| Indianapolis G as____
10
P r e f e r r e d __________ 106
1st g 5s 1952_____„A -()
85
70
e Conn R y & L t g c o m .1 0 0
74
75
Central F o u n d r y .____ io o
9-b
Jackson
Gas
5s
g
'3
7
.
A-O
e P relcrred _________lo o
70
I 88
81
P r e t e r r e d .......... ......... 100
e L a clede G as__________ 1 0 0
'Jb3j 971 ;
1st & ret 4 4 s — See Stk E xc 1'St
lJeb Os 1919 o p '01 .M -N / 35
e P referred _________10 0
100
8)
Grand Rapids R y p r c l.100
SO
C h esebrough M fg C o -.lO O 725
e L ou lsv St 5s 1 9 3 0 .. J-J 1043. I u5'4 M adison Gas Os 1 9 2 6 .A-O 103 103
0J
C itv In vestin g C o ____ 10U
L yn n & Bos le t 5s '24 ,J-D 104 1061; N ew ark Gas 6s 1 9 4 4 ..Q -J 127
105
P r e fe r r e d .......... ......... 1 0 0
e N ew Orl R y s A L g t.1 0 0
98b "99 b
N ew ark Consol G a s .. 10 0
Clatlln (H B) c o m . .1 0 0
90
e
Con
g
5s
1948___J
-l;
c P referred _________100
573, '5S”
101 ‘ 106 '
90
e 1st p re fe rre d _____ 1 0 0
Gen M g 4 4 s '3 5 — see S tk Ex .1st N o H udson L H A P o w —
c 2d p r e fe r r e d _____ 1 0 0
9)
P u b Serv G orp ot N J . l o o 1 1 0
5s 1 9 3 8 .. .................... A -L 111)
115
Col A f lo c k C o a iA l pt 100
T r ctls 2 % to 6 % p e r p e t
9J
P a cific Gas A E. c o m . 100
54
1U0
1st g 5s 191 7 .............J-.J
N erth Jersey St R y .1 0 0
60
P r e fe r r e d ..................... 100
85
Col tr 6s O ct 1 9 3 6 ..J-J
13t 4s 1948----------M-N
75
85
Vo” Hat A Pas Gas A E le c. 100
Consol Car H eating ..1 0 0
42
« Con g 5S 1949-----M-S
98
Cons R y Lgt A R e trlg .1 0 0
St Joseph Gas 5s 193 7 J-/
93
Consol R u bber 'T ir e .. 100
Prelcrred _ _________ IOO
20
18
11
D ebenture 4s luat A -c / 35
41
Philadelphia.

Outside Securities

102

♦ P er sh a re.

0 B a il..




0 Sells un ECit. E x ., o u t n o t very a c t iv e .

__
__

/ F ia t p rice.

n H o m m a i.

s s a i e p rice*

x E X -d iv *

y E x -n g n t > s

* N ew s t o c k .

Jttly 9 1910.]

89

THE CHRONICLE

iixuestweut and jEailroad Intelligence.
jtf.AILH.QAD

GitfOSS

EARNINGS.

The following tabic shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can bo obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period The returns of the electric railways are brought together separately on a subsequent page.
July 1 to iMles'. D a te .

L atest G ross W a rn in g s.
C u rren t
Y ear.

W e ek or
M o n th .

ROADS.

A la N O * T e x P a c
N O * N or E a s t. 1st w kJunc
A la & V icksburg 1st wlcJune
V icks flhrevo & P 1st w kJune
A la T cn n & N o r t h .. M a y _____
____
A tc h T o p & S F e ___ M ay
A tla n ta iilrm & A tl 3d wk June
A tla n tic Coast Line M a y ...........
^B altim ore & O h io . M a y ...........
B a n gor & A roostook M a y ..........
B ellefon tc C e n tr a l.. M a y _____
B oston & M ain e___ M a y _____
B ridgeton & S aco R M a y _____
Butt l io c h & P i t t s .. 4th wkJune
Buttalo <5s S u sq ____ A p r i l _____
Canadian N orth ern . 4th w kJune
Canadian P a clilc ___ 4th w kJune
Central of G e o r g ia .. 4 th w k J u n c
Certtral o f N w Jers M a y ..........
Central V e r m o n t___ M a y ..........
C h atta n ooga S o u th . 3d w k June
Chesapeake & O h io . 3d wk June
C h icago & A lto n R y 1th w kJune
Chic Burl & Q uincy M a y ..........
pC h lc Great W e s t .. 4th w kJune
Chle Ind & L o u ls v . 4th w kJune
Chle Ind & Southern — See N ew
Chic Mllvv & St Paul M a y _____
Cn MU & P u g S d . A p r i l ..........
Chic & N orth W e s t. M a y ..........
Chic St P At & O m ._ M a y ..........
C h icago Term Trans M a r c h ____
Cln Ila n i & D ayton M a y ..........
C lcv Cln Chle & St L — s e e N ew
C olorado M id la n d .. A p r i l ..........
C olorado & S o u t h .. 4th w kJune
C olu m N ew b & Lau M a r c h ____
C op per R a n g e ____ _ A p r i l ..........
Cornw all ................... M a y ..........
Cornw all & L c b a n . M a y ..........
Cuba R a ilr o a d .......... M a y ..........
D elaw aro & H udson M a y _____
Del L a ck & W e s t .. May _____
D en v & R io Grande 4th w kJunc
D enver N W & P ac 3d w k June
D et Tol- & Iron t Sys 3d wk June
A n n A r b o r _____
3d wk June
D etroit & M ackinac 4th w kJune
D ul & Iron R a n g e . . M ay _____
D ul S outh Sh & A tl 4th wkJune
E l Paso & Sou W est A p r i l _____
E r i e ________________ M a y _____
Fairchild & N or E _ . May ..........
F on d a John s & G lov M a y ...........
G eorgia R a ilr o a d .. M a y ..........
G eorgia South & Fla — See Sout
G rand T ru n k S y s t - . 4th w kJune
G rand T rk W e s t. 3d w k June
D et Gr H a v & MU 3d w k June
Canada A tla n tic . 3d w k June
G reat N orthern Syst J u n e _____
G ull & Ship Isla n d . April . . .
H o ck in g V u lley ------ M a y ..........
Illinois C en tral____ M a y _____
In tern et & Gt N or. 3d wk June
a I-nteroccanlc M e x . 4th wkJune
4th w kJune
Io w a C en tral___
K an aw h a & M lc h .. A p r i l ..........
K ansas C ity S o u th . M a y ..........
K C M ex & O rien t. 3d wk June
L eh igh V a lley .......... M a y ..........
L ex in g ton A E a s t .. April . . .
L o n g Isla n d _____
M a y _____
Lou isiana & A rk a n . M ay . . .
L ou lsv H end & St L M ay . . .
L ou lsv & N a s h v .. 4th wkJune
M acon & D lrm lug'm M a y ..........
M alno C en tral___ _ M a y ..........
M a n lstlq u c_________ M a y _____
M aryland & I’ en n a . M a y _____
a M exican In tern a t. 4th w kJune
a M exican R a ilw a y . 3d wk June
— Sco New
M ichigan Central
4 th wkJutnc
M ineral R a n g e ___
M lnncap & S t Louis 4th w kJune
M issouri K an & T ex J u n e _____
M inn St P & S S M l 3d w k June
C hicago D ivision /
Mississippi C en tral. M a y ...........
M o P a c & Iron Mt l
Central B r a n c h ./ 4th w kJunc
N ashv Chatt & St L M a y ______
a N at R ys o f M ex . . 4th w kJune
N evada-C al-O regon. 4 th w kJune
N evada C entral------- March . . . .
N O Great N orthern M a y _____
N O M obile & C h ic . W k June23

3

55.000
29.000
23.000
8,911
9,091,484
40.829
2,410,692
7,629,509
231,980
7,464
3,610,825
4,390
271,234
104,213
372.400
2.735.000
274,600
2,409,530
326,269
2,325
568,733
243,998
5,817,653
232,911
148,476
Y ork Cen
5,304,850
1,292,900
6,077,305
1,168,593
126,448
783,171
Y o rk Cen
181,282
454,480
30,941
55,117
15,673
35,356
232.401
1.730,558
3,079,224
597,200
28,343
43,740
37,154
35,088
1,760,880
95,213
674,682
4,506,138
1,779
79,911
220,383
hern Rail
1,350,612
120,777
42.107
40,621
5,069,430
169,018
055,8
5.004,166
142,000
248,303
58.830
195,572
888,920
32,500
3,180,360
45,150
I n c 110,
114,881
88,006
1,207,735
3,527
745,491
3,564
33,894
233,542
147.900
Y ork Cen
23,055
98,484
1,994,061
448,717

P r e v io u s
Y ear

47
23

3,274
1,593
1,356
79
96,534
2,515
27,615
79,143
2,763
07
39,692
46
8,097
1,819
12,821
94,585
12,038
25,724
3.470
92
30,378
13.293.
80,709
12,050,
5,989,

21

4
8,050
36
2,152
0,342
200
4
3,339
3
235
116
200
1,971
230
2,000

293
1
564
198
6,139
206
140
tral.
4,586,

74,164

C u rren t
Y ear.

l* re r io u s
Y ear.

1,905,755
,475,091
,316,315
57,668
,163,215
,022,252
,111,047
,219,470
,654,734
61,351
,079,826
43,910
,235,558
,908,461
,668,900
,117,166
,155,177
,415,034
,202,035
78,549
,863,002
,500,682
,185,803
,757.010
,309,379

59,279,555 54,912,827

5,274,382
1,011,354
88,018
051,715
tral.
167,835
367,230
30,058
55.000
9,539
27,467
103,540
1,721,789
!,810 ,00 0
581,700
21,331
32,015
35,527
31,017
723,874
87,174
600,289
4,289,205
1,642
71,396
159,623
w ay.
1,195,366
123,901
40,883
38,976
4,753,751
153,326
396,278
4,605,394
127.000
230,405
54,895
161,620
770,137
28.000
2,830,346
42,417
590
98,581
85.205
1,042,623
10.206
689,899
3,381
33,733
179,952
140.000
tral.
20.390
81,077
1,890,871
390,589

07,598,874 60,306,934
13,810,086 12,381,012
812,144
949,603
8,615,502 7,254,620
1,968,642
16,658,957
222,060
615,500
180,318
400,092
2,333,138
18,322,738
12,811,’824
23.493.051
950,556
1,575,364
1,821,747
1,227,531
8,090,184
3,301,053
0,071,891
50,107,299
23,200
825,460
2,814,171

1,929,049
15,080,412
221,921
625,160
95,645
300,885
1,900,101
17,362,205
30,07 v ,483
20,840,804
647,724
1,490,874
1,680,254
1.147.300
5,798,886
2,730,005
6,013 350
40,020,293
18,983
704,134
2,571,853

40,311,472
6,039,856
1.053,354
1,987,756
64,076,862
1,781,276
0,87.1,335
57,334,967
8,273.131
7,805,351
3,359,659
2,278,470
8,863,194
1,729,000
32.915.051
374,403
In c 1,092,
1,209,021
1,080,450
52,410,909
130,345
8,140,910
36,111
370,707
8,842,231
7,830,700

35,941,755
5,427,561
1,655,435
1,757,634
53,058,463
1,582,280
5,409.396
32,020,824
7.918,954
7,401,495
3,015,040
1,795,884
8,140,513
1,294,821
30,211,202
339,633
358
1,093,980
939,522
45,425,892
130,845
7,582,416
42,835
348,217
6,053,284
6.068.300

821,832
829,040
4,938,484 4,171,314
26,587,256 25.300.010
23,377,061 19,432,305

00,055

811,967

641,165

1.437.000 1,275,000 53.025,125 16.384.010
911,996 10,610,955 10,224,879
1,006,508
1,520,269 1,298,484 52,444,170 48,805,522
447,194
12,784
406,050
9,491
47,828
55,160
4,87
446
555,342
64,825 1,354,065
153.901
26,792 1,606,239 1,501,404
29,207

July 1 to L a test D a te .

L atest G ross E a r n in g s .
ROADS.

W e ek o r
M o n th .

C u rren t
Y ear.

P r e v io u s
Y ea r.

C u rren t
Y ear.

P rev io u s
Y ear

( N Y C & H u d R lv
L ake Shore & M S
n L ake E & W est
Chle In d & S outh
M ichigan Central.
Cleve C C & St L .
P eoria & Eastern
C incinnati N o rth .
P itts & L a k e Erie
R u t la n d _________
N Y Chic & St L .
T o t all lines a b o v e
T ol & O hio C en t.
N Y O nt & W estern
N Y N II & H a r t f . .
N Y Susq & W e s t ..
N orfollc S o u t h e r n ..
N orfolk & W e s te rn N orthern C e n tr a l..
N orthern P a c lilc ___
P a cific C oast C o ___
P en n sylva n ia C o ___
(l P en n — E o f P & E
d W est o f P & E .
Pere M a r q u e tte ____
Phi la Balt & W a s h .
Pitts Cln Ch & St L .
R aleigh & S o u th p ’ t
R ea din g C o m p a n y .
Phlla & R e a d in g .
Coal & Iron C o . .
T otal both c o s . . .
R ich F red & P o to m
R io G rande J u n e ___
R io G rande S o u t h . .
R o c k Island L i n e s ..
S t. Jos & G rand Is l.
St L ou is & San Fran
Chle & E a st 111..
J E v an sv & 'l'er H
T o ta l o f all lin es.
St L ou is S o u th w e st.
San R ed L A & S L .
Seaboard A ir L i n e . ,
A tla n ta & B lr m . )
Florida W Shore j
S ou thern I n d i a n a ..
S ou thern P a clilc Co
S ou thern R a il w a y ..
M obile & O h i o . . .
Cln N O & T P ___
A la G reat S o u th .
G eorgia So & F lu.
T exa s C en tral_____
T e x a s & P a cific____
T id e w a te r & .W c s t .
T o le d o P c o r & W est
T o le d o St L & W est
T ora b lgb e e V a ll e y ..
U n ion P acific S y s t .
V a n d a l l a ________
Virginia & S ou W est
W a b a s h ......................
W estern M a ry la n d .
W Jersey & S e a 3 h ..
W h eelin g is L E rie .
W h ite R iv e r ( V t ) ._
W rlgh tsv & T e n n ..
Y a z o o & Miss V a il.

M a y ______
M a y _____
- M a y ..........
M a y _____
M a y _____
M a y ..........
M a y _____
M a y ..........
M a y ______
M a y _____
M a y ..........
M a y ..........
M a y _____
M ay _____
M a y _____
M a y _____
M a y _____
M a y _____
M a y ..........
M a y ..........
A p r i l _____
M a y _____
M a y _____
M a y _____
M ay ..........
M a y _____
M a y _____
M a y ..........

8,332,291
4,037,469
415,140
273,213
2,354.700
2,321,094
282,087
98,515
1,525,159
294,953
898,878
20833559
419,594
752,985
5,391,264
280,241
228,264
3,052,689
1,045,065
6,558,387
617,310
4,816,621
13771 933
In c 1,61
1,322,130
1,714,258
806,208

7,417,310
3,472,217
372,549
234,221
2,164,970
,130,103
210,097
78,567
1,088,687
261,291
814,105
18253117
300,707
641,556
4,761,765
261,112

89,174,799
44,385,222
5,024,576
3,482,572
26,419,576
26,932,392
3,003,140
1,137,473
15,733,280
2,929,150
10,035,314
228257490
3,873,635
7,785,024
55,265,485
3,186,068
2,444,977
32,061,947
11,812,946
67,750,744
6,544,261
48,315,893
150091 103
I n c 17,25
14,696,030
16,586,232
30,772,155
146,181

30,494,625
37,836,902
4,187,800
2,597,690
23,304,549
23,760,025
2,573,512
1,025,210
10,797,040
2,631,178
8,642,562
197857693
3,777,869
7,570,841
19,520,303
3,091,306

M a y ..........
M ay ..........
M ay ..........
A p r i l ..........
A p r i l _____
3d wk June
M ay . . .
A p ril . . .
M a y ...........
M ay ..........
M a y _____
M ay _____
4th wkJune
A p r i l ...........

4,025,723
,983,331
7,009,054
239,410
81,177
12,983
1.031.411
120,641
3.170.249
779,301
200,852
4,150,401
246,161
296,179

,235,707
,545,783
,781,490
201,023
76,4(56
9.840
.740,911
110,911
,989,684
787,822
156,893
.934,398
240,676
721,510

4th wkJune

394,914

2,521,088
082,005
5,451,067
566,582
3,748,945
12032 133
7,100
1,147,005
1,547,158
2,335,634
12,000
11,409

41,488
31,239
72,727,
1,855
881,
529
60,170
1,377
38,020
10,809
2,259
51,088
10,956
5,300,

877,795
838,555
716,350
601,991
722,059
562,885
741,416
349,685
696,825
451,491
937,316
085,032
331,889
,997.257

344,347 20,017.846 17,634,496

100,151 1,139,605
79,658
A p r i l _____
M ay _____ 11459127 ,972,593 123728 104
4th wkJune 1,300,517 ,200,731 57,185,939
207.899
177,606 10,352,115
3d wk June
181,191
144,885 8,821,036
3d wk June
81,512
65,154 4,095,100
d wk June
38,009
37,002 2,267,602
3d wk J une
16,902
14,690
967,456
1st wkJune
366,749
316,105 15,775,759
4th wkJune
76,196
8,753
6,678
M ay _____
35,777
33,152 1,172,384
4th wkJune
06,304
73,508 3,765,077
1th wkJune
77,886
7,112
7,048
M a y ..........
May .......... 7.535.249 1,517,785 82,719,139
825,266
708,285 8,900,446
M a y ______
87,678
74,718 1,105,608
M a y ..........
735,946
718.387 28,841,305
th wkJune
650,086
471,391 5,844.356
A p r i l ______
507,550
449,250 5,417,934
M a y ______
593,702
484,704 0,305,246
M a y ..........
2,924
2,221
M a y _____
17,682
14,969
287,069
M ay ..........
852,997
705.387 9,035,390
M a y ..........

3

1

P e r io d .

V a r io u s F is c a l Y e a r s .

B e llcfo n te C e n tra l___________
D elaw aro & H u d s o n ________
M a n ls t lq u c __________________
rt M exican R a ilw a y _____________
e N Y Central & H u dson R iv e r .
L ake Shore & M ichigan South
n Lake E ric & W e ste rn .............
C h icago In dian a & S o u th e rn .
M ichigan C en tral_____________
Cleve Cln C h icago & St Louis
P eoria & E a ste rn _________
Cincinnati N o rth e rn ..........
P ittsbu rgh & L ake E r i e ..
R u t l a n d ..................................
N ew Y o rk C h icago & St Louis
T o ta l all lines (1 1 )___________
N orthern C en tra l________________
a P en n — East o f P lttsb & E r i c ..
d W est o f P lttsb & E r ie ..
Ph lla B a ltim ore & W a sh in g ton .
P lttsb Cln C h icago & St L o u is ..
R io Grande J u n ctio n ____________
T exa s & P a clilc _________________
W est Jersey & Seash ore____

fan
Jan
fan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
D ec
Jan
Jan

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to

26,581,651
10,648.846
62,313,050
5,319,708
37,465,559
129838703
0,300
12,973.887
15,408,532
25,106 576
128,738

M ay 31
M ay 31
M ay 31
June 21
M ay 31
M ay 31
M ay 31
M ay 31
M ay 31
M ay »1
M ay 31
M ay 31
M ay 31
M ay 31
M ay 31
M ay 31
M ay 31
M ay 31
M ay 31
M ay 31
M ay 31
A p ril 30
June 30
M ay 31

987,792
110124 420
51,601,579
0,498,604
7.601,295
3 ,455,256
1,947,596
1,115,646
14,537,923
68,481
1,094,157
3,428,013
75,151
71,886,284
8,064,739
1,055,851
25,868,034
4,959,891
4,927,534
5,124 281
24 8/148
9,371,847

C u rren t
Y ear.

P r e v io u s
Y ear.

531,276
8,021;555
16,336
3,988,700
38,576,707
19,519,335
2,147,930
1,685,913
11,594,479
11,782,075
1,312,068
484,414
6,670,984
1,190,773
4,630,582
99,608,500
5,145.292
00,666,862
In c 7,950,
7,430.394
14,002,572
380,784
7,433,275
2,050,528

824,193
7,751,628
16,788
3,523,800
34,877,862
10,596,550
1,782,760
1,208,905
10,413,316
10,335,098
1,107,569
442,596
4,50 2 ,7 3 6
1,109,464
3,930,125
80,306,981
4,70 1 ,1 9 2
57,562,262
500
0,944.394
11,161,782
339,019
6,018,168
1,861,328

AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
W e ek ly S u m m a r ie s.

3d
4 th
1st
2d
3d
4 th
1st
2d
: 3d
4th

w eek
week
w eek
w eek
w eek
w eek
w eek
week
w eek
week

Apr
Apr
May
M ay
M ay
M ay
Juno
Juno
June
June

(12
(44
(45
(46
(45
(41
(44
(42
(42
(31

ro a d s ).
r o a d s ).
r o a d s ).
ro a d s ).
r o a d s ).
ro a d s ).
ro a d s ).
ro a d s ).
r o a d s ).
ro a d s ).

C u r'n t

Y ear P r e v 's

s
12,229,700
10,759 458
12,190,200
12,383,885
12 474,681
10,434.237
12,553,149
13,106,710
13.073,508
14,854,289

Y ear

5
10,714.807
14,156,047
10,473,080
10,762.798
10,784,565
14,038,471
10(954,872
11,239,607
11,348,208
12,628,917

In c. or D ec.

+
+
+
+
+
+
+
+
+
+

$
1,514,983
2,602,811
1,717.174
1,621,087
1,690 116
2,445,700
1,598,277
1,867,112
1,725,300
2,227,372

%
14.21
18.38
10.39
15.06
15.67
17.42
14.50
10.60
U-.15
17.01

M o n t h l y S u m m a r ie s.

M onth
M onth
M onth
M onth
M onth
M onth
M onth
M onth
M onth
M onth

Aug
Sopt
O ct
N ov
D ec
Jan
F ob
M ch
Apr
M ay

1909
1909
1909
1909
1900
1910
1910
1910
1910
1910

(883
(882
(881
(756
(758
(740
(773
(739
(600
( 48

roads; .
ro'ad s).
r o a d s ).
r o a d s ).
roads)
r o a d s ).
r o a d s ).
roads).
r o a d s ).
roads)

C tir'n l

Y e a r P re v 's

5
559,877
,065,956
,006,184
370.054
613,053
,302,219
,258,490
,533,005
,213,902
,439,775

Y ea i

2 0 6 ,8 7 7 ,0 1 .
219,013,703
205,455.121
211.281,504
232,261,182
182,649,825
174,159,723
204,910,997
194,049,806
51,667,004

In c. or D ec.

5
+ 29,082,863
+ 27,052,253
+ 10,551,063
+ 36,089,450
+ 28,351,871
+ 27,652,394
+ 28,098,707
+ 32,616,008
+ 27,164,096
+ 8,772,771

I
a .Mexican cu rren cy. <1 C overs lines d ire ctly o p e ra te d , e Inclu des the N ew Y o rk & O tta w a , the St. Law rence & A d iron d a ck and
iN V Ity the latter of w h ich , being a Canadian road, d o c s not m ake returns t o tho In te r-S ta te C om m erce C om m ission.
/’ In clu des
In d ia n a Rl'i.
a In clu des tho C leveland Lorain & W h eelin g R y . In b o th years, n In clu d es th o N orth ern O h io R R .
V In clu d es earnings
f & Ft D odge a n d W ise M inn. & P a cific ., s In clu d es L o u isville & A tla n tic fro m J u ly 1 1909 a n d tho F ran k fort & C incinnati fro m N o v




14.35
12.35
8.05
17.08
12.21
15.14
16 15
15.92
14.00
10.98

the O ttaw a &
E v an sville &
o f M asonC lty
1 1909.

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.
F o u rth

W eek

o f J u n e.

1909.

1910.

B u ffa lo R o ch e s te r & P ittsb u rg h
C anadian N orth ern _____ _______
C anadian P a c ific ________________
C en tral o f G eorg ia _______________
C h icago & A lt o n ________________
C h icago G reat W e s te rn _________
C h icago In d & L o u is v ille _______
C olora d o & S o u th e r n ____________
D e n v e r & R io G ra n d e ___________
D e tro it & M a ck in a c_____________
D u lu th S ou th S hore & A tla n t ic .
G rand T ru n k o f C a n a d a _______
G rand T ru n k W e s te r n _____
D e tro it G r H a v & M Uw____
C a nada A tla n tic ____________
In te r o ce a n lc o f M e x ic o _________
I o w a C en tra l____________________
L ou isv ille & N a s h v ille _________
M ex ica n I n te r n a tio n a l_________
M ineral R a n g e __________________
M in n eapolis & St L o u is _________
M issouri P a c ific _________________
N a tion a l R y s o f M e x ic o ________
N ev a d a -C a ltforn la -O re g o n ------St L ou is S o u th w e s te rn _________
S e a b o a rd A ir L in e _______________
S ou th ern R a ilw a y _______________
T e x a s & P a c ific _________________
T o le d o P eoria & W e s t e r n ----------T o le d o S t L ou is & W e s te rn ------W a b a s h __________________________

In crea se

$
271,234
372,400
2,735,000
274,600
243,998
232,911
148,476
454,480
597,200
35,088
95,213

$
235,826
260,000
1,971,000
230,100
198,654
206,582
140,786
367,230
581,700
31,017
87,174

$
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
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

230,405
54,895
1,042,623
179,952
20,396
81,077
1,275,000
1,296,484
12,784
240,676
(344,347
1,200,731
316,165
33,452
73,508
718,387

17,898
3,935
225,112
53,590
2,659
17,407
162,000
223,785

D ecrea se.

$

3,293
50,567
99,786
50,584
2,325
7,204
17,559

Total (31 roads)----------------------- 14,854,289 12,626,917 2,237,869
—
Net increase ( 1 7 .6 1 % ) ----------------------- 2,227,372

10,497

For the month of June the returns of 30 roads show as
follows:
1909.

M o n th o f J u n e.

1909.

In crea se.

%

$
$
$
Gross earnings (30 roads)_______ 48,243,957 41,484,758 6,759,199

$

[V O L .L X X X X I
------G ro s s E a r n in g s ----C u rren t
Y ear.

R oad s.

5
New York Central Lines (c o n tin u e d )—
. . . May
May
R utland, b ____ _______
294,953
1,196,773
___May
898,878
4,630,582
: b .M a y 20,833 ,559
l ............. 99,608,500
419,594
;.b.M ay
________ 3 ,873,635
N Y O n ta rio & W e s t ,.aa .M
-M aa y
752,985
7,785,924
U b May•4,816,621
48,315,893
Rio Grande June________ Apr
81,177
______
Dec 1 to Apr 3 0>_______
389,794
Rio Grande S o u th ern.b
.b.M
.M a
ay
y
48,760
490,081
i -.M a y 3,170,249
58,020,133
Chic & East I l l . b ____
___May
May
779,301
July 1 to M ay 3 1 _______ 10,809,617
Evansv & T H ’ t e .bi .-.M
M ay
200,852
2,259,233
. ..M a y 4,150,401
_______ 51,088,983
182,858
St L Rocky Mt & P a c .a
a .M a y
July 1 to M ay 3 1 _______ 1,793,247
811,548
. .. M a y
St Louis S o u th w .a ______May
............. 10,119,600
. .. M a y 1,691,413
18,474,099
. .. M a y 1,188,363
6,270,394
321,033
Tol St L & W e s t .a _____ May
July 1 to May 3 1 _______ 3,466,330
825,266
Vandalla b ________ ______
. .. M
May
ay
July 1 to May 3 1 _______ 8,960,446
852,997
Yazoo & Miss V a il.a ___
___May
May
9,635,390

------- N e t E a r n in g s — —

P rev io u s
Y ea r.

C u rren t
Y ear.

$

5

*

261,291
1,109,464
814,105
3 ,930,125
18,253,117
86,306,981
309,797
3 ,777,869
641,556
7,570,841
3 ,748,945
37,405,559
76,456
339,019
42,494
533,250
2,989,684
34,006,825
787,822
9,451,491
156,893
1,937,316
3,934,398
46,085,632
137,255
1,294,094
757,885
0,546,379
1,495,980
16,259,574
1,062,934
5,621,513
284,062
3,134,449
708,285
8,064,739
705,387
9,371,847

73,047
302,833
282,569
1,552,825
5,719,341
27,768,902
158,722
1,293,932
241,487
2,235,952
1,698,932
16,725,010
1)24,253
1)116,938
14,915
140,807
949,455
11,530,345
222,265
3 ,433,115
77,385
868,503
1,249,105
15,831,963
66,826
609,178
61,063
2,317,985
512,294
5,761,284
136,276
1,274,842
p l2 8 ,7 5 0
p i , 133,010
158,343
2,179,041
106,979
1,439,088

60,406
260,631
2 63,958
1,059,3 64
5,752,832
2 4 ,691,122
94,832
1,239,606
181,796
2 ,209,060
1,473,914
13,082,075
1)22,936
1)101,706
11,195
186,830
1,138,602
11,723,967
277,351
2 ,991,279
60,588
7 17,151
1,47 6 ,5 4 0
15,432,396
37,087
403,568
180,433
2 ,0 5 4 ,1 8 1
4 16,097
4 ,3 7 1 ,3 0 7
155,220
1,000,816
p U O .84 6
p i , 050,936
146,690
1 ,981,936
45,042
1,041,208

P r e v io u s
Y ear.

I N D U S T R IA L C O M P A N IE S.
------- G ro s s E a r n in g s --------- ------ N e t E a m i n o s ------C u rren t
Y ear.

C o m p a n ie s .

P rev io u s
Y ea r.

5
45,988
136,111

$
37,444
109,864

C u rren t
Y ear.

$

P r e v io u s
Y ear.

$

It will be seen that there is a gain on the roads reporting
in the amount of $6,759,199, or 16.35% .

g Mexican Tel & Tel C o .M a y

Net Earnings Monthly to Latest Dates.— The table fol­
lowing shows the gross and net earnings of STEAM railroads
and of industrial companies reported this week:

a I\et earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes,
c Includes the N . Y . & Ottawa, the St. Lawrence & Adirondack and the
Ottawa & N. Y . R y ., the latter of which, being a Canadian road, does not
make returns to the Inter-State Commerce Commission
e Includes the Northern Ohio R R .
0 These results are In Mexican currency.
p For May miscellaneous credits to Income showed a dellclt of 36,565
against a deficit of $12,259 In 1909, and for period from July 1 to M ay 3 1
there was a credit of $366,694 In 1910, against $339,005 In 1909.
n These figures represent 3 0 % of gross earnings.
s After allowing for miscellaneous charges to Income for the month of
M ay 1910, total net earnings were $188,387, against $382,890 last year
a nd for period from July 1 to May 31 were $3,400,294 this year, against
$4,051,708.

------- G ro s s E a r n in g s ----------------- N e t E a r n in g s -------R oa d s.

C u rren t
Y ear.

$

P r e v io u s
Y ear.

$

C u rren t
Y ear.

$

P r e v io u s
Y ea r.

$

Mch 1 to M ay 3 1 .............

23,135
71,685

19,856
57,881

A tla n tic C oa st L i n e . a . - M a y 2 ,4 1 6 ,6 9 2
2 ,1 5 2 ,5 8 4
6 66 ,227
558 900
J u ly 1 t o M a y 3 1 _______ 2 7 ,6 1 5 ,2 9 0 2 4 ,1 1 1 ,0 4 7
9 ,4 2 0 ,3 2 2
7,593,603
B o s t o n & M a i n c .b _____ M ay 3 ,6 1 0 ,8 2 5 3 ,3 3 9 ,9 3 7
1 ,0 5 2 ,7 2 9 1,129,620
J u ly 1 t o M ay 3 1 ____ 3 9 ,6 0 2 ,9 7 4 3 6 ,0 7 0 ,8 2 6 1 1 ,4 3 6 ,3 1 0 10,406,143
B r id g e to n & S a co R I v e r .M a y
4 ,3 9 0
3 ,6 6 4
1,155
117 7
J u ly 1 t o M ay 3 1 .............
4 6 ,985
4 3 ,9 1 0
13,225
12,239
Interest Charges and Surplus.
C h ica g o & A l t o n . a ---------M ay
939 ,564
965 ,953
S203.516
s398 966
J u ly 1 t o M ay 3 1 ----------- 1 2 ,2 5 9 ,6 5 9 1 1 ,5 6 7 ,8 1 7 s 3 ,8 73 ,155 s 4 ,3 8 M 4 9
— I n t ., R e n ta ls , & c .— — B a l. o f N e t E ' n g s .—
C h ica g o B u rl & Q u in c y .b M a y 6 ,8 1 7 ,6 5 3
6 ,1 3 0 ,7 5 0
1,247,664
1 039 372
C u rren t
P r e v io u s
C u rren t
P r e v io u s
J u ly 1 t o M ay 3 1 ----------- 80 ,7 6 9 ,0 4 3 7 2 ,1 8 5 ,8 6 3 23,13 2 ,6 2 2 22,804|709
Y ear.
Y ea r.
Y ea r.
R oad s.
Y ear. A
$
3
C h ic M Ilw & S t P a u l . b . . M a y 5 ,3 0 4 ,8 5 0 4 ,5 6 6 ,2 3 2
1,416,943
1 249 216
$
3
J u ly 1 t o M ay 3 1 ----------- 5 9 ,2 7 9 ,5 5 5 5 4 ,9 1 2 ,8 2 7 17,972,938 l O ^ l i i m
593
635
Bridgeton & Saco R Iver.M ay
562
542
6,613
0,916
C h ic a g o & N o rth W e s .b .M a y 6 ,0 7 7 ,3 0 5
5,27 4 ,3 8 2
1,580,542
1 5 7 7 820
July 1 to M ay 3 1 .............
6,612
5,323
J u ly 1 t o M ay 3 1 -----------6 1 ,598,873 6 0 ,3 0 6 ,9 3 4 19,83 7 ,0 9 9 2 l i l l o ; 3 6 9
07,656
Duluth So Sh & A t l____ May
92,228 £d efl9 ,8 3 9 £d ef20,772
July 1 to May 3 1 ________ 1,060,660
C h ic S t P a u l M inn & O .b .M a y 1,168,593
1 ,0 1 1 ,2 5 4
328 ,706
2 75 420
998,403 £def76,469£def271,403
J u ly 1 t o M ay 3 1 ------------13,81 0 ,6 8 6 12 ,3 8 1 ,0 1 2
4 ,8 0 2 ,6 5 7 4 , 3 7 l ’, 776
a48,820
Hocking Valley_________ May
a80,047
196,844
48,707
D u lu th S o Sh & A t l . b . . M a y
298 ,112
2 4 6 ,8 4 7
74,112
6 9 78 0
July 1 to Mya 3 1 ----------- a 3 8 1,972
0444,537
2,198,549 1,303,043
J u ly 1 t o M a y 3 1 ----------- 2 ,0 9 0 ,1 6 6
2 ,4 4 9 ,8 5 4
933,548
6 7 5 )2 0 4
Louisiana & Arkansas. .M a y
26,666
21,009
29,200
22,731
G rand T r u n k o f C anada—
July 1 to May 3 1 .............
267,941
225,991
272,601
185,119
G rand T ru n k R y ______M ay 2 ,8 5 6 ,1 4 9
2 ,4 8 1 ,4 2 9
1,02 8 ,7 7 8
927 068
Mineral Range___________M ay
13,327
13,510
£d efl3,261
----------------------£d ef7,434
J u ly 1 t o M ay 3 1 -----------3 0 ,7 4 0 ,7 1 5 2 7 ,4 2 3 ,4 0 7
7,60 7 ,1 2 1
7 .4 0 R 1 0 7
July 1 to M ay 3 1 _______
555,815
159,624 £d cf64,338 £def36,694
G rand T ru n k W este rn M a y
532 ,882
4 6 1 ,3 4 5
8 8 ,0 8 4
1 3 0 42 3N Y Ontario & W estern .M ay
101,134
85,001
140,353
06,705
J u ly 1 to
M a y 3 1 ______ 5 ,7 1 1 ,6 4 5
5 ,0 7 9 ,9 9 9
1 ,3 9 3 ,7 1 5 1,328)974
July 1 to May 3 1 ----------- 1,069,102
1,027,035
1,106,760
1,182,034
D e t Gr H a v & M il w ..M a y
165,048
142 ,102
14,113
27 739Rio Grande Junction___ Apr
8,333
8,333
10,020
14,603
J u ly 1 t o M a y 3 1 ............... 1 ,8 4 8 ,1 9 0 1 ,5 4 4 ,9 6 2
40 8 ,2 6 0
3 2 4 )6 6 2
Dec 1 to Apr 3 0 .............
41,667
75,271
60.039
41,607
C a nada A t la n t ic ______ M a y
176 ,167
154 ,754
18,979
18 9 7 9
10,041 £def5,468 £d ef8,215
Rio Grande Southern___ May
20,678
J u ly 1 t o M ay 3 1 ------------ 1 ,8 7 8 ,4 8 7 1 ,6 4 5 ,1 0 5
2 9 9 ,4 0 5 .
9o|235
July 1 to May 3 1 _______
213,547 £dcf64,260 £ d e fl3 ,8 1 7
217,053
G rea t N o r t h e r n .b -----------M ay 5 ,7 0 8 ,0 1 4
4 ,2 7 3 ,5 5 3
1 ,7 3 0 ,0 1 6 1 ,306,642
30,600
34,340
6 .478
32,486
St L Rocky Mt & P a c ._ _ M a y
J u ly 1 t o M ay 3 1 .......... .5 8 ,4 0 7 ,4 3 2 4 8 ,9 0 4 ,7 1 2 23,342,541 19,070,833
350,102
239,672
5 3 ,466
July 1 to M ay 3 1 _______
360,500
H o c k in g V a l l e y . b ---------- M ay
6 55 ,856
39 8 ,2 7 8
245 ,664
1 2 8 754
170,700 £def65,196
£59,219
176,870
St Louis Southw________ May
J u ly 1 to
M ay 3 1 ----------- 6 ,8 7 3 ,3 3 6
5 ,4 0 0 ,3 9 6
2,580,521 1 , 7 4 7 , 5 8 0
1,855.961
£920,971
£629 ,99 6
July 1 to May 3 1 _______ 1,898,206
Illin ois C e n t r a l .a -----------M ay 5 ,0 6 4 ,1 6 6
4 ,6 6 5 ,3 0 4
778 ,750 1 , 2 6 4 , 8 7 4
a These figures are after deducting other Income.
J u ly 1 t o M ay 31 -----------5 7,334,967 52,626,824 11,743,752 12,094,589
£ After allowing for other Income received.
L ou isia n a & A rkansas . . M a y
114,881
08,581
46,181
3 4 ,5 3 5
J u ly 1 t o M ay 3 1 ---------- 1,209,021
1 ,0 9 3 ,9 8 9
446 ,199
326,831
ELECTRIC R A ILW A Y AND TRACTION COMPANIES.
L ou isv ille & N a s h v ille .b .M a y 4 ,5 28,322 3 ,6 4 7 ,8 9 4
1,103,604
1 1 8 2 654
J u ly 1 t o M ay 3 1 ----------- 48,19 9 ,5 7 4 4 1 ,8 9 8 ,1 8 4 16,791,603 14,517,724
M aine C e n t r a l.b -------------M a y
745,491
689,899
216,955
1 8 1 ,0 9 7
L a te s t G ro s s E a r n in g s .
J a n . 1 to la test d a te .
J u ly 1 t o M ay 31 --------- 8 ,1 4 6 ,9 1 6 7 ,5 8 2 ,4 1 6
2 ,7 1 7 ,8 7 8
2 ,2 0 2 ,3 9 6
N am e o f

M in eral R a n g e . b ------------M a y
6 3,900
66,1 19
d e f2 ,5 2 5
4,655
R oad.
J u ly 1 t o M ay 3 1 ______
763 ,762
7 5 5 ,8 0 6
8 2,788
119 ,897
74,164
6 0 ,0 5 5
3 0 ,4 1 5
22,617
M ississippi C e n t r a l .b ____M ay
J u ly l t o M ay 3 1 _______
81 1 ,9 6 7
6 4 1 ,1 6 5
3 3 1 ,1 8 0
247 ,816
American R ys Co____
M issouri P a c l f l c . b _______ M a y 4 ,3 1 0 ,2 3 8
3 ,5 9 3 ,8 1 5
1 ,1 0 4 ,6 0 9
640,060
cAur Elgin & Ohio R y
J u ly 1 t o M ay 3 1 _______ 4 8 ,7 9 5 ,1 2 5 4 2 ,6 2 9 ,0 1 0 1 4 ,194,012 11,61 2 ,0 3 5
Bangor R y & El C o.
N a s h v C h att & St L . b . - M a y 1 ,0 0 6 ,5 0 8
011,996
282,231
198,089
Baton Rouge Elec Co.
J u ly l t o M ay 3 1 _______ 1 0 ,6 1 0 ,9 5 5 10,22 4 ,8 7 9
2 ,9 3 4 ,9 3 0
2 ,5 4 8 ,7 3 0
Binghamton St R y . .
BIrm R y Lt & Power
c N Y C e n t & H u d R I v . b . M a y 8,33 2 ,2 9 1
7 ,4 1 7 ,3 1 0
2 ,2 9 7 ,8 7 2
2 ,2 0 8 ,6 6 2
B rockton * Ply St Ry
J a n 1 t o M a y 3 1 _______ 3 8 ,5 7 6 ,7 0 7 3 4 ,8 7 7 ,8 6 2
8,91 9 ,0 1 3
9 ,2 5 5 ,8 0 7
Cape Breton Elec C o.
L S h ore & M ich S o . b . M a y 4 ,0 3 7 ,4 6 9 3 ,4 7 2 ,2 1 7
1 ,0 4 2 ,4 7 9
1,241,616
Carollna Pow & Lt Co
J a n 1 t o M a y 3 1 _______ 1 9 ,5 1 9 ,3 3 5 1 6 ,5 9 6 ,5 5 0
5,93 0 ,2 5 9
5,714,349
Central Penna T r a c ..
Chlcago Railways C o.
eL E rie & W e s t e r n .b .M a y
4 1 5 ,1 4 0
37 2 ,5 4 9
40,393
47,448
J a n 1 t o M ay 3 1 ______ 2 ,1 4 7 ,9 3 0
1 ,7 8 2 ,7 6 0
4 60 ,969
214 ,280
Cleve Palnesv & East
Dallas Electric Corp.
C h ic In d & S ou th ern b M ay
273 ,213
234,221
64,547
53,008
Detrolt United R y ___
J a n 1 t o M ay 3 1 ______ 1 ,6 8 5 ,9 4 3
1 ,2 0 8 ,9 0 5
501 ,929
270,413
Duluth-Superior TrCo
M ich igan C e n t r a l . b .. . M a y
2 ,3 5 4 ,7 6 0 2 ,1 6 4 ,9 7 0
647 ,165
643,293
East Penna Rys C o_.
J a n 1 t o M ay 3 1 ............ 11 ,5 9 4 ,4 7 9 1 0 ,4 1 3 ,3 1 6
3 ,3 5 7 ,8 0 7 2 ,9 9 9 ,3 0 7
East St Louis & Su b.
El Paso Electric____
C le v e C In C h & S t L .b .M a y
2 ,3 2 1 ,0 9 4 2 ,1 3 0 ,1 0 3
3 59 ,334
568,828
Falrm & Clarks Tr Co
2 ,7 5 1 ,7 5 7 2 ,4 57,058
Jan 1 t o M ay 3 1 ______ 1 1 ,7 8 2 ,6 7 5 1 0 ,3 3 5 ,0 9 8
P eoria & E a s te r n .b - -M a y
2 82 ,087
21 9 ,0 9 7
73,065
5 3 265Ft W ayne & Wabash
Valley Traction Co.
J a n 1 t o M ay 31 ............. 1 ,3 1 2 ,6 6 8
1 ,1 0 7 ,5 6 9
365 ,804
254,978
Galv-H ous Elec C o ..
e i n c N o r t h e r n ________ M ay
9 8,515
7 8 ,567
d ef2,298
4 150
Grand Rapids R y Co
J a n 1 t o M ay 31 ..........
484 ,414
44 2 ,5 9 6
88,701
71,’ 818
Havana Electric R y .
Honolulu Rapid Tran
P Itts b & L a k e E r l e .b .M a y 1 ,5 2 5 ,1 5 9 1 ,0 8 8 ,6 8 7
841 ,163
608,198
* Land Co.......... ..
J a n 1 t o M a y 3 1 ............. 6 ,6 7 0 ,9 8 4 4 ,5 0 2 ,7 3 6
3 ,5 3 4 ,0 0 5 2 ,1 3 3 ,1 1 7




C u rren t
Y ear.

P r e v io u s
Y ea r.

C u rren t
Y ear.

P rev io u s
Y ear.

M a y _____
A p r il_____
M a y ______
A p r il--------A p r il...........
M a y ...........
A p r il-------A p r il..........
M a y _____
M a y _____
A p r il______
M ay ..........
A p r il_____
3d wk June
May ..........
A p r il..........
May -------A p r il--------May ..........

3
335,599
120,384
42,875
8,303
26,924
218,575
8,744
20,730
16.899
69,934
1098,059
30,255
113,406
188,223
90,289
46,957
183,178
49,490
51,827

$
310,682
106,412
39,936
7,344
24,972
184,825
9,096
16,511
15,803
66,350
997,347
28,039
100,061
161,363
81,533
44,280
171,072
46,403
42,122

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
452,176
4,051,872
416,301
103,551
918,799
216,455

1,375,977
402,356
100,754
29,527
100,881
910,567
30,491
67,196
73,189
290,850
3,780,965
105,658
400,471
3,307,074
369,455
168,980
792,328
188,080
170,171

M a y ______
A p r il--------M a y ______
W k July 3

122,344
104,550
93,207
42,280

111,702
93,721
85,243
41,808

598.352
396,224
430.871
1,060,977

532,673
363,319
388,045
1,000,623

A p r il_____

36,129

33,406

W eek or
M o n th .

212,866

Ju l y

L atest G ross E a rn in g s.
N am e oj
R oad.

91

THE CHRONICLE

9 1910.]

W eek or
M o n th .

C u rrent
Y ea r.

H o u g h to n C o T r a c Co A p ril . . .
Illin ois T r a c tio n C o _ - M a y ___
J a c k s o n v illc E lec C o . A p r i l ___
K ansas C ity R y & L t A pril . . .
L a k e S h ore E le c R y . M ay . . .
M llw El U y & L t C o . M a y ___
Mllvv L t H t & T r C o - M ay . . .
M on treal S treet R y . . W k J u ly 2
N ash ville R y & L ig h t A p r i l ___
N ew O rleans R y & Lt M ay _____
N o rth O h io T r a c & L t M ay . . .
N orth T e x a s E lec C o . April . . .
N orth w est E le v C o . . M ay . . .
N orf & P orts m T r Co M a y _____
O k la h o m a C ity R y - - M ay -------P a d u ca h T r & L t C o . A p ril . . .
P c n s a c o la E le ctric Co A pril . . .
P o r t (O r e )R y L & P Co M ay _____
P u g et S oun d E l e c C o . A pril - .
R lo d e Ja n eiro T ra m
L ig h t & P o w e r ------- M ay
S t J oseph (M o) R y L t
H eat & P o w e r C o . - Jun e
S a o P a u lo T r , L t & P M a y ______
S a v a n n a h E le c tr ic Co A p r i l ____
S ea ttle E le c tr ic C o _ . A p r i l _____
S ou W iscon sin R y Co M ay _____
T a m p a E le c tr ic C o _ . A p r i l _____
T o le d o R y s & L ig h t . M a y ...........
T o r o n t o R a ilw a y s — M a r c h ____
T w in C ity R a p T r a n - 3 d w k June
U n d erg rou n d E l R y
of L ondon—
T h ree tu b e lin e s ___ W k Jun e 25
M e tro p o lita n D ls t . W k Jun e 25
U n lte d T r a m w a y s . W k Jun e 25
U n lted R R s o f San Fr A pril . . .
W h a t c o m C o R y & Lt A p ril . . .

$

P revious
Y ea r.

24,248
472,255
47,213
601,477
100,424
380 ,060
85,072
61,524
147,519
523,339
207,323
111,280
184,353
160,492
53,861
20,389
22,263
466,436
158,919

25,72
423,616
40,307
552,628
89,535
342 ,829
7 0 ,830
56,051
139,939
514,897
188,749
97,837
173,635
151,598
37,533
18,352
18,559
3 99 ,590
143.581

916 ,476

646,118

J a n . 1 to latest date.
C u rren t
Y ea r.

P revio u s
Y ea r.

$
98,771
2,36 5 ,7 7 4
190,341
2,380,494
423 ,194
1,861,298
361 ,022
2 ,0 5 4 ,1 1 9
581,833
2 ,6 6 4 ,1 6 0
865,662
438 ,890
913,431
765 ,607
227 ,916

S
96,613
2,101.518
156,083
2 ,1 8 5 ,0 7 0
378.851
1,669,715
303 ,012
1,84 3 ,1 6 0
544,354
2,562,954
775,738
378 ,448
864,924
759 ,016
149,144

8 4 ,2 19
2 ,1 66,734
592,286

7 6 ,437
1,842,036
533,906

3 ,4 2 8 ,1 1 6

3 ,0 1 0 ,0 8 6

85,401
237,698
50,601
460 ,490
15,055
48,362
237,986
341,999
154,382

80,781
190,277
47,488
422,128
13,770
46,432
212 ,835
298,142
140,842

4 94 ,015
1,1 4 5 567
194,586

45 8 ,6 0 5
1,003,392
190,143

69,040
212 ,067
1,219,221
974,264
3,380,971

62,302
199,046
1,085,332
861 ,768
3 ,0 6 2 ,0 6 2

£12,595
£11,347
£7,301
648,015
32,661

£13,440
£10,941
£6,342
620,626
31,552

£330,735
£273,338
£152,810
2 ,4 94,867
134,515

£326,005
£248,240
£143,035
2,33 7 ,2 5 2
127,817

c T h ese figures are fo r co n s o lid a te d c o m p a n y .

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 return? can be obtained, is given
once a 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.
--------Gross E a rn in g s----------------- N et E a rn in g s-------Current
P rev io u s
C u rrent
p r e v io u s
Y ea r.
Y ea r.
Y ea r.
Y ea r.
$
$
_______
71329,418
71299,204
C h icago R a ilw a y s C o . . . A p r 1,098,059
3 ,7 8 0 ,9 6 5 711,245,070 711,134,289
Jan 1 t o A p r 3 0 ---------- 4 ,1 5 0 ,2 3 2
F t W a y n e & W a b V a i l .b M ay
1 22 ,344
111.702
5 1.050
4 4,812
Jan 1 t o M ay 3 1 _______
598 ,352
532,673
255 ,321
21 2 ,5 2 6
Illin ois T r a c tio n Co a . . M a y
4 72 ,255
42 3 ,6 1 6
173,532
169,809
2.10 1 ,5 1 8
030.041
8 7 7 ,1 0 4
J a n 1 t o M ay 3 1 ______ 2,36 5 .7 7 4
N o rfo lk & P orts m T rC o b M a y
160,492
151.698
6 6 .682
58,939
Jan 1 to M ay 3 1 _______
765 ,607
759,016
31 8 ,7 9 6
308,79.)
S t .Tns (M o) R v L I I & P b Ju n e
85,401
80,781
38,763
4 0 ,2 6 4
Jan 1 t o Jun e 30 . . . .
4 9 4 ,0 1 5
4 58 ,605
220,113
21 2 ,8 1 7
Union R y G a s * El Co . b M a y
229,007
214 ,509
97,404
10 3 ,1 4 5
Jan 1 t o M a y 3 1 - - - - - - 1 ,2 1 1 ,9 3 5
1,141,908
5 18 ,335
563,604
R oads.

a N et earnings here g iv en are a fte r d e d u ctin g taxes,
b N et earn in gs here g iv e n are b e fo re d e d u ctin g ta x e s.
n T h ese figures represen t 3 0 % o f gross earnings.

Interest Charges and Surplus.
— I n t.. R entals, & c .—
C u rrent
P revio u s
Y ea r.
Y ea r.

R oads.

$

F t W a y n e & W a b V a il ..M a y
Jan 1 to M ay 3 1 ----------S t J os (M o) R y L II & P . June
Jan 1 to Jun e 3 0 ---------U n ion R y , G as & E l C o .M a y
Jan 1 t o M ay 3 1 -----------

4 4,912
224,568
23,184
134,543
65,308
526,862

— B a l. o i N et E ’n g s .—
P rev io u s
C u rrent
Y ea r.
Y ear.
$
$
3
1,7 1 5
6,138
43,097
6 ,5 9 0
30,753
205,936
1 8 ,5 0 5
15,579
21,759
8 0 ,1 9 0
8 5 ,5 7 0
126,627
3 9 ,3 2 8
3 2,096
63,817
24 4 ,3 3 3
519,271
191,473

x A fte r allow in g fo r o th e r Incom e re ce iv e d .

annual reports.
Annual 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.
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 R esu lts.— T h e o p e ra tio n o f th e u n d e rta k in g d u rin g th e p ast y e a r
has been m os t s a tisfa c to r y . T h e net re ve n u e In g o ld , a fter p a y in g all e x ­
penses an d fix ed ch arges, a m o u n te d t o 59 2 2 ,4 5 8 , w h ic h , a d d e d t o th e
$37 1,35 0 to cr e d it o f p rofit a n d loss a c c o u n t D e c. 31 1908 b r o u g h t th a t
a c c o u n t up t o $ 1 ,2 9 3 ,8 0 8 .
F ou r q u a rte rly d iv id e n d s a t th e rate o f 6 %
ner an n u m w ere pa id , a b s o r b in g $ 5 7 7 ,4 6 4 , an d le a v in g a cre d it b a la n ce o f
5716 344, o u t o f w h ich $30 0,00 0 has been carried to a reserve a c c o u n t as
a s p e c ia l’ a p p ro p ria tio n fo r d e p re cia tio n , a n d $416,344 has been carried
f0rUntU th e m id d le o f 1909, business th r o u g h o u t th e R e p u b lic w as m u ch
d ep ressed ' this c o n d itio n w as r c llc c te d In th e earnings o f th e tra m w a y s ,
a n d In con s eq u en ce the Increase In th e gross In com e fo r th e year w as n o t
great b u t w ith in th e last s ix m on th s there has been a d e c id e d Im p ro v e m e n t
In trade w h ich , lt Is a n tic ip a te d , w ill s o o n m ake Itself fe lt In th e re ve n u e s
o f th e c o m p a n y .
.
,
,
,
,
, , .
T h e ratio o f o p e ra tin g expen ses t o gross In com e has been re d u ced d u rin g
th e last three years fro m 5 5 .5 6 % In 1907 to 5 0 .0 2 % In 1909.
D u rin g the
y ea r $ 2 ,0 6 6 ,2 7 8 has been spen t o n capital a c c o u n t fo r ex te n sio n s o f lines
Im p rovem en ts an d Increase o f e q u ip m e n t. T h e eq u ip m e n t has be e n In
creased b y th e m a n u fa ctu re o f 43 new ears In th e sh ops o f th e c o m p a n y
O n D e c. 31 1909 th e system con sisted o f 171.90 m iles o f single tr a c k , o f
w h ich 145.245 m iles w ere o p era ted b y e le ctricity an d 26.655 m iles b y m u les.
D u rin g th e y ea r th e electric track m ileage has been Increased b y 1 9 .835
m iles and 19.105 m iles o f m ule track has been d is co n tin u e d .
P u rch a se.— T h e co m p a n y a cqu ired d u rin g 1909 a co n tr o llin g Interest In
th e M exica n L ig h t & P ow e r C o .. L t d ., b y the purchase Of 8 5 ,256 o r d in a r y
shares o f c a p ita l s to c k , In ord e r t o assure a reliable s u p p ly o f p o w e r. T h e




d ir e cto r s are satisfied th a t th e a c q u is itio n w ill p r o v e a rem u n e ra tiv e In­
v e s t m e n t , a v e r y c o n sid e ra b le e c o n o m y h a v in g a lr e a d y been e ffe cte d In the
o p e r a tio n o f b o th co m p a n ie s.
_. . . ,
N ew S to c k .— F o r th e a cq u is itio n o f th e shares o f th e M exica n L ig h t «
P o w e r C o ., as w ell as t o assist th a t c o m p a n y b y cash a d v a n ce s In p ro v id in g
th e fu n d s n e ce ssa ry fo r th e e x te n s io n o f Its h y d r o -e le ctr ic sy s te m , th e
T r a m w a y s C o m p a n y so ld 5 4,874 shares o f Its c a p ita l s to c k d u rin g th e y ea r
a t an a v e ra g e p rice o f $135 99, b e in g a prem iu m o f S35 99. T h ese sales
h a v e b r o u g h t th e to ta l c a p ita l s to c k Issued u p t o 114,874 shares.
L istin g in P a r i s .— A rra n g e m e n ts fo r th e listin g o f th e shares o f th e c om ­
p a n y o n th e p a rq u e t o f th e Paris B o u rse w ere c o m p le te d e a rly th is y ea r,
an d In this co n n e c tio n lt w as agreed th a t th e F re n ch G o v e rn m e n t s h o u ld
n o m in a te t w o F ren ch d ire cto rs; V lc o m te G a ston d e B reteull has a c c o r d '
ln gly been e le cte d t o th e b o a rd ; th e se c o n d d ir e cto r has n o t y e t been n o m i­
n ated.
R E S U L T S F O R Y E A R S E N D I N G D E C . 31 ( M E X I C A N C U R R E N C Y ) .
C a r E a rn in g s—
. is s e n g e r s ________
T ic k e t s ____________
F r e i g h t ....................
M is c e lla n e o u s ____

1906.
. $3 ,4 0 7 ,1 8 2
342 ,716
184,691
221,503

1907.
$ 4 ,026,132
411 ,616
212,618
219,781

1908.
$4,347,561
45 8 ,4 5 5
219,319
254,881

1909.
$ 4 ,4 2 0 ,6 9 0
4 86 ,962
216 ,146
259 ,217

O th er ln c o m e .

.

$ 4 ,1 5 6 ,0 9 2
54,676

$4 ,8 7 0 ,1 4 7
53,927

$5,28 0 ,2 1 6
4 8 ,357

$ 5 ,3 8 3 ,0 1 5
57,272

O p er. e x p ., ln c l. t a x e s . ..

$4,210,768
2 ,3 1 3 ,0 9 7

$ 5 ,3 2 8 ,5 7 3
$ 4 ,924,074
2,79 5 ,0 9 2_
2,760,584 ____________

$ 5 ,4 4 0 ,2 8 7
2 ,7 2 1 ,4 5 7

N et e a rn in g s_________ $ 1 ,8 9 7 ,6 7 1
$ 2 ,1 6 3 ,4 9 0
$2,53 3 ,4 8 1
$ 2 ,7 1 8 ,8 3 0
D e d u c t — R e n ta ls an d fix e d ch arges, p a y a b le to su bsidiary
c o m p a n ie s u n d er leases, less a m o u n t r e ce iv e d b a c k as Interest
a n d d iv id e n d s o n securities h e ld In co m p a n ie s ($ 4 9 9 ,0 9 1 ), an d
.
a d ju s t m e n t , n o t e x p la in e d ($ 2 2 ,1 7 7 ), less s u n d ry receip ts ($968)
5 20 ,300
B a la n ce , tra n sfe rre d t o h e a d o ffic e , T o r o n t o , p r o fit a n d loss
a c c o u n t __________________________________________________________ $2 ,1 9 8 ,5 3 0
P R O F I T A N D L O S S A C C O U N T F O R Y E A R E N D I N G D E C . 31 1909;
H E A D O F F IC E , TO RO N TO (A M E R IC A N C U R R E N C Y ).
$37 1 ,3 5 0
B a lan ce as a t D e c . 31 1 9 0 8 _________________________________________
P ro fit fro m o p e r a tio n a fte r p r o v id in g fo r lease r e n tals ($ 2 ,1 9 8 ,5 3 0
M exica n c u r r e n c y ), c o n v e r te d Into A m e r . c u r r e n c y a t 4 9 . 7 4 . . 1 ,0 93,549
In terest a n d d iv id e n d s o n loan s t o a n d secu rities o f o th e r c o m pan ics o w n e d o r c o n t r o lle d ----------------------------------------------------------724,178
T o t a l ________________________________________________________________$ 2 ,1 8 9 ,0 7 7
T o r o n t o a n d L o n d o n o ffic e exp en ses (ln c l. r e n t, salaries, p rin tln g a n d s ta tio n e ry , teleg ra m s a n d cab le g ra m s, r a te s, ta x e s , & c.)
$J8,4Z7
In terest o n loan s ($ 3 1 ,1 0 0 ) an d differen ce In e x c h a n g e ($ 1 0 ,4 9 2 ).
41,592
I n t. o n 5 % g e n . c o n s o l. 1st M. b o n d s ($ 4 50,000) a n d 6 % d e b .
bon d s ($ 3 6 5 ,2 5 0 )_______________________________________
8 1 5 ,2 5 0
D iv id e n d s ( 6 % ) ................
577 ,464
B a la n ce carried t o ba la n ce s h e e t .. . ......................... ............................

$716,344

B A L A N C E S H E E T D E C . 31 ( A M E R I C A N C U R R E N C Y ) .
1909.
1908.
1909.
1908.
Liabilities—
$
S
Assets—
$
5
Capital s to ck .........11,487,400 6,000,000
Properties, secur’s
1st M. 5 % b o n d s. 9,000,000 9,000,000
& contracts ac­
648,206
quired ................ 20,880,240 13,283,772 6% deben. b o n d s. 6,087,500
335,636
150.000
Stores on hand,& c.
840,009
512,496 Accr’d Int. on bds.
Mules and horses
17,593
22,496 Current loans and
acc’ ts p a y a b le .. 3,717,186
372,092
Office fur. & flxt's
4,559
5,068
-----------A cc’ts receivable.
350,916
603,579 Reserve a c c o u n t ..i/2,274,994
Profit
and
loss____
2416,344
371,360
A dv. to sub. & oth.
cos. controlled.210,695,940 1,609,825
529,802
504,511
Cash ____________
T o t a l .................. 33,319,061 16,541.747

Tota .................. 33,319,061 16,541,747

x In clu d e s In 1909 a d v a n ce s to sb u s ld la r y an d o th e r co m p a n ie s co n tro lle d
as per b alan ce sheet o n D e c 31 1908, $ 1 ,6 0 9 ,8 2 5 : fu rth er a d v a n c e s t o th e
M e x ic o E le c tr ic T r a m w a y s , L t d ., fo r ca p ita l e x p e n d itu re s , $ 2 ,0 6 6 ,2 7 8 ,
a d v a n c e s d u rin g t h e y e a r t o th e M exica n L ig h t & P o w e r C o ., L t d ., fo r
c a p ita l e xp e n d itu re s su b se q u e n tly secu red b y 2nd m tg e . b o n d s o f th a t c o .,
n o w h e ld as co lla te ra l, $ 7 ,0 2 4 ,1 8 8 ; t o ta l, $ 9 ,0 9 0 ,4 6 6 ; d e d u ct, F errocarrlles d e l D istrito F ed era l d e M e x ico , S . A . , $ 4 ,3 5 1 ; b a la n ce , as a b o v e ,
$ 1 0 ,6 0 5 ,9 4 0 .
„
. ,
V R e s e r v e a c c o u n t Includes $ 30 0,00 0 a p p ro p r ia te d fro m p ro fit a n d loss
fo r d e p r e c ia tio n an d $1,97 4 ,9 9 4 fo r n e t pre m iu m s o n n ew shares Issued d u rjn g your.
z A fte r d e d u ctin g $ 3 0 0,00 0 tran sferred t o r e s e r v e a c c o u n t f o r d ep recia­
t io n .— V . 8 9 , p . 778.

American Hardware Corporation, New Britain, Conn.

(Results for Fiscal Year ending Jan.

1 1910.)

B A L A N C E SH EET A M E R IC A N H A R D W A R E CORPORATION .
1910.
1909.
1909.
1910.
Liabilities—
$
$
S
Assets—
$
Capital stock Issued.7,416,900 6,180,800
Stock in subsidiary
.
602,000
companies at cost.7,669,054 6,650,579 Bills payable......*281,151
11.732
121,666
Accounts receivable.
40,729 253,887 Surplus-.............
110,674
C a sh ............................. 133,406
110,674 Balan ce_______ 133,406
T o ta l.........................7,843.189 7.015,140

T otal.........................7,843,189 7,015.140

* Due constituent companies.

Assets—

S T A T E M E N T OF
1910.
$
6,030,373
3,341,825
2,335,153
. 303.463

S U B S ID IA R Y C O M P A N IE S J A N . 1.
. 1910.
1909.
$
Liabilities—
$
5,873,780 Cap. stk., sub. cos. 2,600,000
159,647
3,472,985 Bills & accts. p a y .
1,843.306 Surplus.......................9,251,167
187,085

12,010,814 11,377,156

1909.

$

2,600,000
889,488
7,887.668

T o ta l.................... 12,010,814 11.377.166

EA RN IN G S OF S U B S ID IA R Y C O M P A N IE S FO R C A L E N D A R Y E AR S.
1908.
1909.
$593,866
Net earnings...........................................................................................
550.296
Dividends paid.............................- ..................................................... . 596,250
Balance, surplus................................................................................
— V . 90, p. 1046.

$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 profits for that year, as below, §1,128,736, compared
with §1,383,772 in 1907-08 and $1,730,815 in 1906-07.
190 9-1 0.
G ross p r o f i t s . . ..... $ 2 , 4 4 1 , 8 4 4
D ed uct—
D e p re cia tio n ....................... $ S ? n n I n
B o n d In terest____
240,000
R e s . fo r co n tln g . o n s t k s .
300 .000
P re f. d iv id e n d ( 5 % ) - - - C o m m o n d i v i d e n d . . .(1 5 % ) 8 1 0 ,0 0 0
B a la n ce , su r p lu s -----------

$ 34 1,44 6

1 90 8-0 9.
$ 1 ,1 2 8 ,7 3 6

1905-06.
$1 ,4 7 9 ,4 6 8

1904-05.
$1,16 7 ,2 9 1

$ 4 0 0 ,0 0 0
2 40 ,000

$ 35 1,16 0
236 ,000

$34 5,80 8
236 ,450

244 ,524
244,524
(4 )2 1 6 ,0 0 0 (1 4 )5 8 8 ,0 0 0

244 ,524
(8 )3 3 6 ,0 0 0

$59,784

$ 4 ,509

$ 28 ,212

92

THE CHRONICLE

B A L A N C E SH EE TS M A R C H 31.
1910.
1909.
Assets—
S
S
Liabilities—
Plant, & c......... — 14,794,712 14,679,536 Common s t o c k ___
Stock In trade, net
5% pref., fully p d .
cost------------------- 6,828,183 5,427,559 4% Is tM . b o n d s..
Accounts recelvaAccounts payable.
a b le .n e t.............. 1,280,874 1,078,711 Bills payable-------430,109
318,348 Borid int. accr.,& c.
C a s h - . . ..................
Sundry lnvestm ’ts.
298,652
277,958 Depreciation fund.
Advance paym ’ ts.
38,531
34,955 Fire Insur. reserve.
D lv. on com . stock,
payable In July.
Res. for contlng. In
stocks__________
Balance forw ard-.
T otal------- ---------23,671,061 21,817,069
— V. 89, p. 530.

1910.
S
5,400,000
4,890,475
6 , 000,000
1,570,135
654,520
64,995
3,221,349
10,777

1,653,427
279,287
65,584
2,896,919
8,014

810,000

216,000

300,000
748,810

407,364

1909.

$

5,400,000
4,890,475

6 ,000,000

T o ta l___________23,671,061 21,817,069

Central Coal & Coke Co., Kansas City.
{R e p o r t f o r Y e a r e n d in g J u n e 1 1910.)
The pamphlet report contains no text. The results for
two years compare as follows:
RESULTS

OF

O P E R A T IO N S FO R Y E A R
------------1 9 0 9 -1 0 -----------N et.
G ross.
$ 3 6 0,64 5
. .. $ 8 6 0 , 4 3 4
17,344
...
81,264
2,633
...
24,011
55
...
11,535
...
55,061
3,215
. _ 72,883
17,203
. . . 159,402
12,858
127,048
183,751
•Wholesale lu m b e r _____ . . . 647,752
144,393
C arson m ill_____________ . . . 744 ,599
123,016
K eith m ill_____________ . . . 515,251
111,619
M iscellaneous ________
D epartm ent—
W h olesale c o a l________
R e ta il coal . . ________
W ich ita c o a l. _ ________
S t.-J osep h c o a l ________
Salt L ake C ity c o a l____
W a sh er ________________
M in in g .......... .............. .........

T o t a l_______ ______________

$1,103,781

_______

IN C O M E A C C O U N T .
1909-10.
1908-09.
N et earnings as a b o v e — $1,103,781
$ 1 ,0 7 6 ,4 5 9
D ed uctions—
R o y a lt y cr e d ite d c o a l Ids .
$79,141
$81,773
264,873
R o y a lt y c r e d it, tim b er Ids
241 ,805
37,839
34,586
D ep recia tion m ill p r o p ___
D ep recia tion w ash er p r o p
4,008
4,008
85,447
G eneral e x p e n s e --------------81,907
110,359
In terest on b o n d s ________
130,610
In terest a n d e x c h a n g e —
2 9 ,500
18,500
T o t a l ___________________
Su rplu s e a r n in g s ...............
D lv s. on p ref. s to c k (5 % )
D Ivs. on c o m . s to c k (6 % )

E N D IN G J U N E 1.
1908-09G ross.
N et.
$964,103
$459,212
64,081
4 ,518
17,731
213
8,571
Loss 1,205
49,598
480
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
$1,076,459
1907-08.
$1,352,702

1906-07.
$1,44 7 ,6 5 0

$88,933
200,603
28,658
4,008
77,734
118,173
8,500

$93 ,130
2 67 ,140
3,333
7 0,875
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
$87 4,59 5
*93,750
*307 ,500

B a la n ce o v e r d iv id en d s *$100,974

*$72 ,410

*$424,843

*$47 3,34 5

* T h ese Item s h ave been su p p lie d : th e y d o n o t a p p e a r In th e reports.
W h a t o th e r d e d u ctio n s o r cre d its there w ere, w e d o n o t kuo-.v.— E d.

Assets—
Coal lands..............
Timber lands_____
Coal shafts & bldgs
Sawmills & Impr’ ts
Yards & cqulpm ’ t .
Personal property.
Mo. & La. R R . Co.
stock....................
Bonds,&c.,In other
com panies.........
A cctafor collection
Inventories______
Cash ........................
Sinking fu n d _____
Sundry balan ces..

AS SE TS A N D L IA B IL IT IE S JU N E
1909.
1910
Liabilities—
$
4,293,659 4,272,440 Common s t o c k ...
3,256,063 2,953,816 Preferred stock___
1,678,875 1,794,680 Undivided profits.
296,042
215,849 Bonds......................
50,578
50,578 Audited bills.........
68,661
64,096 Bond Int. not due.
Sundry accounts. .
150,000
150,000 Pay-roll balances.
Freight charges un­
130,101
129,103
adjusted. ............
847,812 1,008,665 Sink, fund for Ins.
626,291
669,457 Sundry balances..
386,163
136,599 Bills payable_____
91,667
91,667
7,367

T o t a l . . ......... ...1 1 ,8 8 3 ,2 7 9 11,536,950
— V. 89, p. 101.

William Cramp & Sons Ship

1910.
S
5.125.000
1.875.000
1,508,967
2.572.000
6,852
46,313
141,653
26,068

1909.
§
5.125.000
1.875.000
1.427,707
2.061.000
1,547
39,400
76,791
66,393

99,726
31,700

89,768
56,819
17,525
700,000

450,666

T otal.................... 11,883.279 11,536,950

&

Engine Building Co., Phila.

30 1910.)
Pres. Henry S. Grove, Philadelphia, June 30 1910, wrote:
{ R e p o r t f o r F i s c a l Y e a r e n d in g A p r i l

N otw ith s ta n d in g th e un iversal p r o s p e r ity an d Increased p ro fits se cu re d
fro m all o th e r fo rm s o f co m m e rcia l a c t iv it y , the s h lp -b u ild ln g In du stry
o n the A tla n tic C oa st stan ds a lon e w ith o u t a d e q u a te retu rn s.
F o llo w in g
th e lead o f th e m ore im p o rta n t E nglish sh ip -b u ild e rs, we h ave th e r e fo r e
c o n tin u e d t o d e v o t e tim e an d m o n e y In d e v e lo p in g o u r en gin eerin g a n d
m a n u fa ctu rin g dep a rtm e n ts o th e r th a n s h lp -b u ild ln g , an d w ith this we
are m a k in g s a tisfa c to r y p rogress.
E A R N IN G S FO R F IS C A L

Y E A R E N D I N G A P R I L 30.
190 9-1 0. 1908-09. 1907-08. 1906-07.
N et earnings o f all d e p a rtm e n ts o f the
•
c o m p a n y an d its subsidiaries, v iz .:
I. P . M orris C o. a n d K en sin gton
S h ip y a rd C o ., I n c lu d in ' m iscella n ­
eou s In com e, an d a fte r d e d u ctio n
o f Insurance an d ta x e s , b u t b efore
d e d u ctio n o f b o n d Interest o r m is.
cclla n eou s In terest______________ --$ 7 1 6 ,1 4 2
$ 7 4 7,95 0 $35f5,735 $ 3 2 8 ,3 2 8
In terest o n 2 0 -y c a r 5 % serial n o t e s . 198,083
208 ,833 217,333 225 ,333
I n t. on first m tg e. 5 % g o ld b o n d s . . .
61,667
6 2 ,9 1 7
64,167
65,417
G rou n d rents an d Interest o n real
estate m o r tg a g e s ..... .............
29,964
3 0,047
3 1 ,508
3 4 ,1 7 0
N et su rp lu s ___________
$426,428 $446,153 $242,727
$3,408
T h e c o m p a n y has m ade th e fo llo w in g p a ym e n ts an d e x p e n d itu re s :
In re d u c tio n o f ca p ita l d e b t , $24 5,00 0:
220 2 0 -y ea r 5 % serial notes re d e e m e d , as p er term s o f Issu e____ $ 2 2 0 ,0 0 0
25 1st M . 5 % g o ld b o n d s r e d e e m e d , as per term s d eed o f t r u s t. _ 2 5 ,0 0 0
E x p e n d e d In th e purch ase o f real e s ta te , new to o ls , m a c h in e r y ,
an d fo r Im p rov em en ts, <Scc-------------------------------------------------------------8 7 ,954
B A L A N C E SH EE T A P R IL 30.
1909.
1910.
1910.
Liabilities—
Assets—
§
S
$
Capital stock_____ 6,098,000
Real estate,
chlnery, &c
.12,978,766 12,890.812 Bonds and mort­
gages ........... ..
293,922
Bills & accts. ree_..
871,614
5,674.912
343,582 Merchandise accts.
Materlals & supp. .
421,558
326,965
C ash.......................... 1,083,566 1,592,956 Wages due M a y ..
45,797
Accrued Interest..
Def’d assets (accts.
94,923
730,085 Profit and loss____ 3,852,257
In proc. otadjus))
737.350
T otal...........
— V. 91. p. 41.

.16,092,854 15,851,357

1909.
§
6,098.000
5,919,912
268,265
34,393
98,832
3,431,955

T otal.................... 16,092,854 15,851,357

Fore River Shipbuilding Co., Quincy, Mass.
Y e a r e n d in g D e c . 31 1909.)
Pres. FrancisT. Bowles, Quincy, Mass., Feb. 8 1910, wrote{R e p o r t f o r F is c a l

A d d ition s t o p la n t a n d m a c h in e r y w ere m ade d u rin g th e y e a r t o t h ;
a m o u n t o f $ 5 3 ,0 0 0 .
All Item s o f rep air an d m a in ten an ce t o p lan t h ave




[V O L . L X X X X I

b een ch arged t o curren t ex p e n se a n d $120,000 has been ch a rge d o ff fo r
d e p re cia tio n an d th e surplus has Increased b y $ 70 ,693 . T h ere are n o n otes
p a y a b le .
T h e cash receip ts f o r the y e a r a m o u n te d t o $ 4 ,2 3 2 ,2 2 5 . T h is Is a d e ­
crease fro m the pre vio u s y e a r o f a b o u t 3 0 % . T h e fo llo w in g vessels w ere
u n d er co n s tru ctio n o n D e c. 31 1909: ba ttlesh ip “ N o rth D a k o ta ” 3 s u b ­
m arin e t o r p e d o b o a ts, 3 to r p e d o b o a t de stro y e rs, 1 steel fr e ig h t ’ steam er
1 steel steam y a c h t, 3 steel m olasses barges and 1 steel steam lig h ter’
D u rin g the y e a r there h ave been c o m p le te d an d deliv e re d : 6 subm arin e
b o a ts , 8 a r m y tu gs, 3 steel ca r-flo a ts, 1 h a rb o r transfer tu g a n d 1 steel
a m m u n itio n ligh ter. T h e ave ra g e n u m b e r o f e m p lo y e e s fo r the y ear w as
2 ,8 1 0 . T h e fo rc e at present Is 3 ,0 7 0 .
T h e greatest d iffic u lt y d u rin g the past y e a r has been th e lack o f su fficien t
new sh lp -b u ild ln g t o w o rk the plant at Its fu ll c a p a c ity . T h e co m p e titio n
o f sh ip -y a rd s t o secure w o rk t o m ain tain th eir plants has resu lted in ship
co n s tr u c tio n bein g taken a t lo w prices. T h e C u rtis m arine tu rb in e, fo r
w h ich the license t o m a n u factu re Is o w n e d b y o u r c o m p a n y , has con tin u ed
t o sh o w ex ce lle n t results In th e p e rfo rm a n ce o f th e b a ttle sh ip “ N orth
D a k o t a .”
T h e c o m p a n y has r e ce n tly sign ed co n tra cts w ith th e A rgen tin e
G o v e rn m e n t fo r the c o n s tr u c tio n o f o n e 2 8 ,0 0 0 -to n b a ttle sh ip w ith Curtis
m arin e tu rbin es, a n d the bu ild in g o f Curtis m arin e tu rbin es fo r a s econ d
ba ttle sh ip .
B A L A N C E SH EE T DECE M BE R 31.
1909.
1908.
1909.
1908.
Assets—
§
Liabilities—
$
§
S
P r o p e r ty __________*>3,498,600 3,555,646 Capital stock, pref..2,400,000 2.400.000
Reserve accts. receiv.. 80,764
168,507 Capital stock, c o m ..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
W ork In process____ 272,423
206,938 Accrued taxes......... ..
............
16,043
Material on h a n d .... 311,868
267,012 Uncompleted c o n ­
A ccts., & c., r e c civ .. 224,105
338,866
tracts, reserve____ 235,455
225,193
Cash on hand........... 974,071
864,164 Accounts p a y a b le ... 145,781
225,519
Surplus.................
188,892
118,199
_______

5,382,128 5,413,664

T otal.........................5,382,128 5,413,664

* Property Includes In 1909: real estate, buildings, & c., §2.301,892: machinery,
equipment, & c., 81,217,246: Investments, 899,462; total, 83,618,600: less depre­
ciation. §120,000; balance, §3,498,600.— V. 89. p. 37.

Lawyers’ Mortgage Co., New York.
M o n t h s e n d in g J u n e 30 1910.)
The report of President Richard M. Hurd for the late half­
year is published in the advertising pages of to-day’s “ Chron­
icle.” The report shows:
{R ep ort f o r S i x

O P E R A T I O N S F O R H A L F -Y E A R .
1909.
1910.
1008.
£
G uar, m ortg ages s o l d ___ 21.74 0 ,2 8 5
16,897,501
12,042,259
d o d o o u t ’ g Jun e 3 0 . 103,021 .78 7
86.90 5 .0 6 3
6 9 .031.168
Incom e Jrom—
P rem iu m s fo r guaranties
243,308
198,646
159,496
In terest o n m o r tg a g e s ..
125,101
100,393
108,527
R e n t, com m ission s, &c_
11,109
3,741
8,359
G ross e a r n i n g s ............
E x p en ses—
R e n t ................. ................
S a l a r i e s _____________
A d v e rtis in g ...............
|
S ta tio n e ry _______ . .
T a x e s & general e x p e n . .
G ross e x p e n se s.
N et e a r n in g s ..
D iv id e n d s (6 m o n t h s ) ..
B a lan ce, s u r p lu s ..

1907.
12,105,512
60.342.971
142,097
93,163
6,930

379,518

302 ,780

276.383

242 .190

9,500
50,898
7,851
9,7 0 9

0,500
41,991
15,135
\2,127
14,128

4,687
3 4 ,820
5,520
1,297
8,537

3,8 7 5
32,668
4,271
1,956
8,378

77,958
301,560
(6 )2 4 0 ,0 0 0

72,881
229,899
(6 )1 5 0 ,0 0 0

54,861
221,522
(5 )1 2 5 .0 0 0

51,148
191,042
(5 )1 2 5 ,0 0 0

60,560

79,899

06,522

66,042

B A L A N C E S H E E T S J U N E 30.
1910.
1909.
1910.
1009.
A ssets—
§
$
L ia b ilities—
$
$
N .Y .C it y m t g e s .5 ,2 1 7 ,9 6 8 5 ,1 1 0 ,6 3 0 C a p it a l...............4 ,0 0 0 ,0 0 0 2 ,500,000
A c e r . Int. r c ce lv . 246 ,595
_______ -Surplus_________ 2 ,0 0 0 ,0 0 0 2 ,
C o .’s
B ro o k ly n
U n d lv . p r o f it s .. 309,329
209,467
bu ild in g, c o s t . 175,000
175,000 M ortgages so ld ,
R e a l e s ta te _____
110,608
5,681
n o t d e liv e re d . 4 62 ,005 1 ,012,483
C a s h ____________ 1,076,446 1,050,219 S to ck su b scrip ’s .
_______
619,580
R e s. fo r p re m .& c
55,283

000,000

T o t a l -------------- 6 ,8 2 6 ,6 1 7 6,34 1 ,5 3 0 | T o t a l__________6,82 6 ,6 1 7 6 ,3 4 1 ,5 3 0
T h ere are 7,538 gu aran teed loans o u t s t a n d in g (see “ o p e ra tio n s” a b o v e ),
the average loan In M an h a ttan a m o u n t in g to $38 ,000 , In B r o o k ly n to
$ 5 ,8 0 0 and In th e B r o n x to $ 1 5 ,0 0 0 .— V . 90, p . 165.

Mexican Light & Power Co., Limited, Toronto, Canada.
{ R e p o r t f o r F i s c a l Y e a r e n d in g D e c . 31 1909.)
Secretary W. E. Davidson, Toronto, writes in brief:
C on struction.— T h e d e v e lo p m e n t o f the c o m p a n y ’s business an d th e w ork
o f co n s tru ctio n have m ade m ost s a tisfa c to r y progress. T h e d e m a n d fo r
p o w e r In the C ity o f M e x ico a n d the F ed era l D istrict Increased s o ra p id ly
th a t It b ecam e n ecessary to press fo rw a rd the c o m p le tio n o f the e n tire h y ­
d ra u lic system at N e ca x a . T h e w ork s a t N e ca x a are ra p id ly a p p ro a ch in g
co m p le tio n .
B y the c o n s tr u c tio n o f a series o f tunnels an d d a m s, live
large reservoirs h a v e been fo rm e d , w h ich will s tore a v e r y large v o lu m e o f
w a te r, th e re b y assuring a co n tin u o u s s u p p ly o f w ater d u rin g the en tire year.
W ith the e x c e p tio n o f o n e o f the tong tunnels and the T c n a n g o d a m , w hich
w ill be finished d u rin g 1911, p r a ctica lly all o f the w o rk under w a y In the
N e ca x a d istrict w ill be co m p le te d b e fo re the e n d o f the curren t ye a r.
On
the c o m p le tio n o f this w ork th e h y d r o -e le ctr ic p o w e r sta tio n at N eca xa
w ill have a c a p a c ity o f a b o u t 100,000 h .p ., o f w h ich 50,000 h .p . Is a lrea d y
used u n d er peak loa d s. T h e c a rry in g c a p a c ity o f th e h ig h -v o lta g e tran s­
m ission lines also has been Increased to 100,000 h .p .
T h e a ccid e n t In M ay 1909 t o on e o f the dam s a t N e ca x a did n o t v e r y
g re a tly a d d t o the co st o f c o n s tr u c tio n , a n d the c o m p le tio n o f the dam w as
d e la y e d o n ly six m o n th s.
(V . 89, p .4 7 4 .)
T h e to ta l storage c a p a c ity o f the five reservoirs Is as fo llo w s : P resent c a ­
p a c it y , 129,500 ,00 0 c u b ic m etres: c a p a c it y w hen present w ork s are c o m ­
p le te d , 173,000 ,00 0 c u b ic m etres.
It Is a n ticip a te d th a t fro m n o w on the
c o m p a n y will n o t require to h ave recourse to steam p ow er.
General R esu lts.— T h e e x tr a o r d in a r y e xpen ses due to the o p e ra tio n o f
th e steam p lan t a m o u n te d to $987,484 (g o ld ), an d the board o f d irectors ,
fo llo w in g a cou rse sim ilar to that a d o p te d in the p re v io u s y e a r, has d ecid ed
to charge a p p ro x im a te ly o n e -h a lf o f th e a m o u n t again st the o p e r a tin g ea rn ­
ings fo r the y e a r, an d to w rite o ff th e o th e r half again st the reserve fu n d
fo rm e d o u t o f the surplus profits o f the past years. T h e gross earnings and
su n d ry receip ts fo r the y e a r a m o u n te d to $ 3 ,0 1 4 ,3 2 5 , w h ich , w ith $60 ,8 2 3 ,
th e b alan ce o f surplus profits carried fo rw a rd fro m the p re v io u s y e a rs, m ade
a to ta l o f $ 3 ,0 7 5 ,1 4 9 .
F rom this sum has been d e d u cte d $ 6 4 8 ,3 3 7 , the
general o p e ra tin g e x p e n se s, m ak in g the net reven u e fo r the y ear $ 2 ,4 2 6 ,8 1 1 ,
o u t o f w hich sum the m an agem en t an d fixed charges a n d the 7 % p ref. d i v i ­
d en d have been p a id , lea vin g a surplus o f $ 1 ,1 8 6 ,5 2 8 .
F rom tills surplus
o n c-h a lf o f the e x tr a o r d in a r y ex p e n d itu re In co n n e c tio n w ith the o p era tion
o f the steam plan t has been d e d u cte d a n d a 4 % d iv id e n d o n the c o m m o n
s to c k has been paid le a v in g $14 9,38 6 to be carried fo rw a rd .
O n Jan . 1 1909 the e le ctric Installations c o n n e cte d to the c o m p a n y ’s d is ­
trib u tin g lines In th e c ity an d F ederal D istrict o f M e xico an d at El O ro and
th e v ic in ity represented 79,073 h .p ., w hile o n D e c. 31 1909 the c o n n e c te d
lo a d had Increased to 8 3,189 h .p .
C a pital O utlay.— D uring the y e a r the sum o f $3,023,041 has been e x ­
p e n d e d o n ca p ita l a c c o u n t fo r the c o n s tr u c tio n w orks o f the h y d r o -c le c t r lc
sy ste m and fo r Im p rovem en ts an d exten sion s o f the general e q u ip m e n t o f
the c o m p a n y , an d this sum has been provider! o u t o f the a d v a n ce s m a d e b y
th e M e x ico T ra m w a y s C o .
f

THE CHRONICLE

July 9 1910.1

Change in C on trol.— In J a n u a ry 1009 a c o n tr o llin g Interest In th e c a p ita l
s to c k w as a cq u ire d b y th e M e x ico T r a m w a y s C o . a n d the o ld b o a r d ° f ‘ [ h e c ­
tors retired an d a new b o a rd w as e le cte d . (.See Mex. Tramways C o . a b o v e .)
A cq u isition — N ew B o n d s.— T h e d ire cto rs h a ve su cce e d e d In a e q u liln g lo r
th e c o m p a n y th e business an d u n d e rta k in g o f th e C o m p a n ia L lc c tr ic a
e Irrig a d ora en cl E sta d o de H id a lg o , S. A . (h e re in a fte r referred t o as the
“ Irrig a d ora C o m p a n y ,” a c o m p a n y c a rry in g o n a ligh t and p o w e r business
In th e c it y o f P a ch u c a an d the su rrou n d in g terr i to r y , situ a ted a b o u t 00
m iles fro m N eca x a and e m b r a c in g on e o f the m o s t p ro sp e ro u s m in in g areas
in th e R e p u b lic .
T h e e s tim a te d I n c o m e o f the Irriga d o ra C o m p a n y f o i
th e y ea r 1910, based on th e a c t u a l re ven u es fo r th e first three m o n th s or
th e y e a r , w ith o u t ta k in g ln t o a c c o u n t a n y n ew buslnes-s w h ch m a y he c o n ­
n ected this y e a r , is: G ross, $<135,000 (g o ld ), n e t, $26 0,00 0 (g o ld ),
tra cts n e g o tia te d sin ce th e a c q u is itio n o f th e u n d e rta k in g w ill y ie ld an
a d d itio n a l gross reven u e o f a b o u t $25 0,00 0 (g o ld ), a n h } t 1s e x p e c te d th a t
w ith in three years the gross re ve n u e fro m the P a ch u c a D istrict w ill in c ita s c
t o a t least $60 0,00 0 (g o ld ).
T h is a cq u is itio n assures to this c o m p a n y a
la rg e an d Increasin g sou rce o f reven u e and fu rth e r cu sto m e rs fo r the v o ^ c r
b e in g d e v e lo p e d a t N e ca x a .
C o n stru ctio n has been c o m m e n ce d o n a
b r a n c h tran sm ission line fro m N e ca x a to P a ch u c a an d on a su b -sta t o n ,
an d It is e x p e c te d th a t p o w e r w ill be d e liv e re d fro m N e ca x a h y S e p t. 1 o
th e p resen t y e a r , w hen the P a ch u ca pla n t w ill be shut d o w n , th e r e b y re
d u c in g th e o p e ra tin g c o s t fo r this business. T h e Purchase price fo r this
c o m p a n y w as $ 3 , 7 5 0 , 0 0 0 ( g o ld ), o f w h ich o n e -h a lf w as p a id in cash an d the
b a la n c e in 6 % first m tg e . b o n d s, secured o n th e assets o f the new Irrigad ora
C o , w h ich lias been fo rm e d to take o v e r the assets o f the o ld c o m p a n y and
o p e r a t e the business as a su b sid ia ry c o m p a n y t o this c o m p a n y , w h ich ow ns
ail its s t o c k .
(V . 90, p . 506.)
R E S U L T S F O R C A L E N D A R Y E A R S ( U . S . C U R R E N C Y ).
Deduct—
1909.
1909.
1908.
Gross earnings____S3,004,153 S2,938,474 ln t. on bds.M.L.AP $594,375
do M .E .L .C o .
293,287
Other Income-----10,172
------------Sink. fd. M .L .& P .
118,875
do M .E .L .C o .
58,657
...
.
Total in co m e .-.$3 ,014 ,32 5 $2,938,474
Com. di vldcnds(4 % )54 3,400(3 L£)47o,47 a
Pref. dividends (7% )168,000
119,627
Operating expen s.*1,126,235 1,080,570
Total deduc’n s .$1,776,594 S I,665,102
8192,801
Net e a r n in g s ...S I ,888,090 S I,857,904 Balance, surplus.. $111,496
* O p era tin g exp en ses In 1909 ($ 1 ,1 2 6 ,2 3 5 ) Include c o s t o f c P c r .R jn o .g c n eral exp en ses an d m a in te n a n ce , $ 62 5,40 3; halt o f the extirtoiclltirviy cx.
p e n d itu res In c o n n e c tio n w ith the o p e ra tio n o f the steam plan ts c h a ig ta b le
a g a in s t th e earnings o f 1009, $493,742 a sim ilar d e d u ctio n h a vin g been
m a d e In 1908— see rem arks a b o v e ) , an d T o ro n to , L o n d o n and M on tiea l
o ffic e e x p en ses, $ 7 ,0 9 0 .
GENERAL BA LA N C E SH EET
1909.
1908.
Assets—
$
8
Prop, concessions,
& C -.............
31,633,809 28,745,768
Apparatus rented.
12,277
29,632
Shares in subsld.
___ _
cos. (cost i n ’09) 3,167,284 3,042,9o9
Materials.............. 1,049,593
730,021
Accts. receivable.
262,760
279,791
G ovt, deposits__
30,594
23,973
Unexp. Insurance.
4,018
11,317
Cash ......................
293,902
37,330

T o t a l .................. 36,454,237 32,900,792

D E C . 31 (G O LD C U R R E N C Y ) .
1909.
1908.
Liabilities—
S
S
Ord. shares Issued. 13,585,000 13,585,000
Pref shares issued 2,400,000 2,400,000
Bonds.................... 11,865,000 12,000,000
Curr. loans and
overdrafts_____ 7,024,188
Sundry accts. p a y .
254,399
Em ployees’ &consumers’ deposits
Accrued bond lnt.:
Mex. El. L t. Co.
M ex.I.t.& P.Co..
Sink.fd.M .E.L.Co.
do M .L.&P.Co.
Pref. dlv. accr’d . .
Com. dlv. Jan. '10
Reserve acco u n t-.
Miscellaneous
Profit & loss acct
Total

................36,454,237 32,900,792

x R es erv e a c c o u n t co n sists o f $85 0,00 0 tran sferred fro m p ro fit a n d loss
a c c o u n t , less $472,116 fo r p o rtio n o f e x tr a o r d in a r y e xp en ses fo r steam
op e r a tio n d u rin g c o n s tr u c tio n ,
v A fte r d e d u ctin g $85 0,00 0 carried t o g e n ­
eral reserve a c c t , a n d $22,934 fo r bad and d o u b tfu l d e b t s .— V . 9 0 ,p .1494,506

GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
Algoma Central & Hudson Bay Ry.— G u a r a n te e d B o n d s

O f­

.—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. 60-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 autli. 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:

fere d

93

fro m S au lt S te . M arie to the C an. P a c . R y ., in clu d in g interest d u rin g c o n ­
s tr u c tio n , is e stim a te d a t £65 7,43 3; pu rch ase o f a d d itio n a l ro llin g s t o c k ,
£135,000; to ta l e stim ated e x p e n d itu r e , £792,433.
Proceeds o f Is su e .— P a rt o f th e p ro ce e d s o f the b o n d s w ill be used t o p a y
fo r $ 3 ,0 0 0 ,0 0 0 b o n d s o f the L a ke S u p e rio r C o r p o r a tio n , w h ich h a ve been
c a n ce le d , in ord e r t o free th e A lg o m a C entral R y . C o . fr o m all en c u m ­
bran ces o th e r than the first m tg e . b o n d s n ow being Issued, a n d th e b a lan ce
o f th e p r o c e e d s , to g e th e r w ith o th e r av a ila b le fu n d s o f th e r a ilw a y , and the
cash su bsidies to be re ce iv e d fro m the D o m in io n G o v . will m ore than c o v e r
th e co m p le tio n a n d e q u ip m e n t o f th e ro a d t o th e Can. P a c . m ain line.
E a rn in g s .— T h e net earnings fro m the 80 m iles so far c o m p le te d an d fro m
th e ste a m sh ip line fo r th e y e a r t o Ju n e 30 1909 w ere £ 26 ,700 . T h e net
earn in gs o f the 10 m on th s o f the p re se n t y e a r sh ow an Increase o f fu lly 5 0 %
o v e r th e sam e p eriod last year.
In a d d itio n to th e valu able tim b e r lands t o be gran ted t o th e c o m p a n y ,
the b u ild in g o f the line w ill o p e n u p o th e r e x te n s iv e tim b e r areas a n d m ake
co n n e c tio n s w ith d e v e lo p e d iron m in es, w h ich w ill create a t o n ce a v e r y c o n ­
sid e ra b le a n d p a y in g freigh t t r a ffic .
As s o o n as th e railro a d c o n n e c tio n Is
m a d e , the A lgo m a Steel C o ., L t d ., is p rep ared to take a m in im u m o f 3 00 ,000
to n s o f iron ore p er ann um fro m the M agpie m in es, and the R a ilw a y C om ­
p a n y w ill also ge t the w h ole fre igh t on the sh ip m e n ts o f iron o re fr o m the
H elen m in e, a m o u n tin g to at least 200 ,0 0 0 to n s p er an n u m , so th a t th e
ra ilw a y is assured 500,000 to n s per a n n u m fro m these t w o m ines a lon e.
T h e e x te n s io n o f the line to the N a tio n a l T r a n sco n tin e n ta l w ill en ab le
us to tap the N o rth O n tario c la y b e lt, e stim a te d t o co n sist o f 16,0 0 0 ,0 0 0
acres o f e x ce lle n t agricu ltu ral lan d.
C onservative E stim a te o f the E a rn in g s o f the L in e fo r the F ir s t Y ea r after
C om pletion to the C anadian P a c ific R a ilw ag.
G ross earns, o f R R ..................£2 9 3 ,6 0 0 IN e t earns, ste a m sh ip d e p t . £15,000
N et e a rn in g s________________
8 8 ,0 8 0 | T o ta l net e a r n in g s __________ 103,080
T h e a m o u n t required to p a y th e in terest o n th e $ 6 ,7 5 0 ,0 0 0 first m tg e .
gold b o n d s Is £67,500. N o a c c o u n t has b e e n taken a b o v e o f a n y p rofit fro m
th e sale o f tim b e r, ore o r lands.
G u a ra n ty.— A n u n co n d itio n a l g u a ra n ty b y th e L a k e S u p e rio r C o r p o r a ­
tio n , b o th as to principal and interest, w ill be e n d o rs e d on e a ch b o n d .
T h e net earnings o f the c o r p o r a tio n th ro u g h its su b sid ia ry co m p a n ies d u r­
ing th e p ast three years, ava ila b le t o p r o v id e fo r d e p re cia tio n an d Im p rov e­
m en ts, t o m eet the interest (£ 7 0 ,0 0 0 ) o n its first m tg e . 5s, w h ich are
n o w r e d u ce d t o $7,0 0 0 ,0 0 0 , an d to care fo r a n y lia b ility It m a y Incur u n d er
the g u a ra n ty o f th e b o n d s o f the A lg o m a & H u d so n B a y R y . C o . , w ere
(years e n d in g Jun e 30) 1906-07, £160,964; 1907-08, £210,879; 1908-09,
£ 2 1 5 ,5 1 1 . T h e a p p ro x im a te net earnings o f the su b sid ia ry co m p a n ies fo r
th e first te n m on th s o f the present y e a r h a ve a m o u n te d t o £ 19 8,96 3, bein g
co n s id e r a b ly in excess o f the c o rre sp o n d in g p e rio d in th e p re v io u s y ear.
I m p r o v e m e n ts n o w ap p ro a ch in g co m p le tio n in c o n n e c tio n w ith the steel
p la n t a n d o th e r su bsidiary pro p e rtie s w ill co n s id e r a b ly Increase its earn in gs.
C om p a re V . 90, p . 1101.— V . 90, p . 1553.

Atchison Topeka & Santa Fe R y.— N o

C han ge in D iv id en d .

—The directors yesterday, following the example of the
Chicago Milwaukee & St. Paul earlier in the week, declared
its dividend at the old rate. President Ripley is quoted:
M y Im pression is th a t th e A tc h is o n w ill s h o w , In Its re p o r t fo r th e p ast
y e a r, so m e th in g m ore than 8 % o n th e present v o lu m e o f s to c k ; b u t we w ill
n o t k n o w d efin itely until w e g e t the results fo r J u n e .
O ur co n s tr u c tio n
w o rk Is g o in g o n m o d e ra te ly .
W h a t we h ad p la n n e d an d sta rte d w e will
finish, Inclu din g th e lines in T e x a s .
B u t w e d id n o t h a v e an e x te n s iv e
p rogram u n d er w a y .— V . 90, p. 1612.

Brooklyn City RR.— D i v i d e n d R e d u c e d P e n d i n g A p p e a l .—
The directors have declared a quarterly dividend of 2% on
the $P2,000,000 stock, payable July 15 to holders of record
July 5 out of the rental paid by the Brooklyn Heights RR.,
amounting to $1,200,000 (10%) yearly.
P re sid e n t E d w ard M erritt In a circu la r e xp lain s th a t, p e n d in g th e app eal
fro m th e d ecision han ded d o w n in F e b . last (V . 90, p . 558, 62 5 ), J^ o f 1 %
w .ll be retain ed qu a rterly an d be set aside In a special fu n d an d retu rn ed
t o (h e sto ck h o ld e rs in case lt Is n o t needed In th e s e ttle m e n t o f th e cla im
o f th e B r o o k ly n H eigh ts C o .— V . 90, p . 1044.

Canadian Northern Ry. —S e c u r i t i e s .—We now have the
following from an authoritative though not official source:
R e g a rd in g the r e p o r t o f a sale b y M r. M ackenzie o f certa in 3 H % C a nadian
N orth ern R y . d eben tu re s to c k , g u aran teed b y th e G ov e rn m e n t o f the
D o m in io n o f C an ada to M r. D u n sm u lr, this is a p riv a te tra n sa ctio n betw een
M r. M ackenzie an d Air. D u n sm u lr, a n d lt has n o t as y e t been re a lly c o n ­
su m m a te d ,
,
, .
,
A n issue o n the Canadian N orth ern R y . ’ s lines t o be c o n s tru cte d In the
P r o v in c e o f B ritish C olu m bia will be m ade sim ilar t o th e Issues In th e oth er
P ro v in ce s a lo n g the lines m e n tio n e d (in V . 91, p . 3 7 ). T h e details as t o
this Issue h a v e n o t been m ad e p u b lic , fo r o n ly th e a g reem en t b etw een th e
railroad a n d th e P ro v in cia l G o v e rn m e n t has been m a d e . W o r k prelim in ary
to c o n s tru ctio n o n ly has so fa r taken p la ce In B ritish C o lu m b ia . C om p a re
V . 91, p . 37.
Central RR. of New Jersey.— D e c i s i o n o n E m p l o y e r s ’ L i a ­
b ility L a w

.—Judge Hand in the United States Circuit Court
in tiiis 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.

T h e c o m p a n y cla im ed th e F ed era l co u rts w ere w ith o u t Ju risdiction b e ­
cause th e com p la in a n t w as n ot him self en gag ed in In ter-S ta te c o m m e r c e ,
n o r w as the train so e n g a g e d . T h e C ou rt held th at an e m p lo y e e o f a roa d
e n g a g e d in Inter-S tate co m m e r c e is, w hile w o rk in g , h im self e n ga g ed In
su ch co m m e rce anti can th e re fo re sue u n d e r th e F ed era l s ta tu te .— V . 90,
p. 1675, 1612.
■

T h e b on d s will be a first m tg e . u p o n the lines o f r a ilw a y , term inals and
d o c k s an d a floatin g ch arge u p o n th e rest o f the assets, present an d fu tu re.
Chesapeake & Ohio RR. of Indiana— R e o r g a n iz e d C o m ­
In clu d in g the lands granted b y the P ro v in ce o f O n ta rio . T ills issue repre­
pany
sents a b o n d e d d e b t o f $30 ,000 p er m ile In respect o f 225 m iles o f railw ay
now u n d er co n s tr u c tio n to c o n n e c t w ith the C anadian P a cific R y .
Abstract of Letter from Pres. T . J. Drummond, June 25 1910.
C h a r te r __ T h e c o m p a n y Is a u th o riz e d , u n d er ch arter fro m the D om in ion
o f C anada to c o n s tr u c t a line fro m Sault S te. M arie, O u t., to the C anadian
P a cific R y , In clu d in g a branch fro m M ich ip lco te n H a rb o r to the m ain line,
an d fro m a p oin t on t h e C a nadian P a cific R y . n orth to Jam es H ay, in ter­
s ectin g the N a tio n a l T ra n sco n tin e n ta l R y ., u n d er co n s tr u c tio n , and the
p r o je cte d line o f tin- C a nadian N orthern R y .
Cash S u b s id ie s .— ''The D om in ion o f C anada has granted to the c o m p a n y a
&
cash s u b s id y of $6,400 p er m ile fo r the 225 m iles fro m Sault S te. M arie to
the Can. P a c. R y . m ain line. Inclu din g the M ich ip lco te n b ra n ch . P a rt o f
tills s u b s id y lias a lre a d y been earned an d paid t o the c o m p a n y ; the balan ce
Chicago Cincinnati & Louisville RR.— S u c c e s s o r
u n p a id ap p lica b le to the line n o w t o be c o n s tr u c te d Is $ 51 6,00 0. S h ou ld the
c o m p a n y d ecid e to co n tin u e the railroad n o rth fro m the Can. P a c. R y . fo r
115 m iles to the N ation a l T ra n sco n tin e n ta l R y ., it w ill receive fu rth e r cash
C ir c u la r
su bsidies fro m the D o m in io n G o v e rn m e n t an d fro m the P ro v in c e o f O n tario
w h ich , It Is a n tic ip a te d , w ill a m o u n t t o $96 6,00 0.
Land G ra nts.— T h e P ro v in c e o f O n tario has gran ted to the c o m p a n y a
v e r y va lu a b le land gran t o f a b o u t 1,655,000 acres In re sp e ct o f these 225
m iles, an d on co m p le tio n o f the line to a c o n n e c tio n w ith the N ational
T ra n scon tin en ta l R y . it w ill be e n titled t o a fu rth er land gran t o f 575,000
acres
Th ese lands will b e gra n ted in fre e h o ld , an d ca rry all m inerals and
all tim b e r free o f all charges e x c e p t the pin e, u p on w h ich stu m p age charges
are to be p a id . O f this land grant 1,439,300 acres have been selected and
T h e sy s te m w as sold u n d er fo re clo su re Ju n e 23 1910 fo r th e upset price
set aside fo r the c o m p a n y .
o f $5 2 0 0 ,0 0 0 , co v e rin g re ce iv e r’s c e rtifica te s, first m o rtg a ge d e b t , cou rt
P r o p e r tie s .— T h e railroad is a lread y in o p e ra tio n fo r som e 80 m iles;
costs and a llo w a n ce s and a sm all m argin .
M essrs. R e m in g to n an d G a n n on ,
8 0 -lb a n d 8 5 -lb . rails; w ell balla sted . T h e c o m p a n y ow n s e x te n siv e ter­
w h o bid In th e p r o p e r ty , are su p p o se d t o rep resen t the sy n d ic a te w h ich last
m in als and d e e p -w a te r d o c k s a t Sault S te. M arie, O n t., e q u ip p e d fo r the
y
e
a
r
a
cq
u
ire
d
th
e
general
m
o
rtg
a
ge
co
m
m
itte e b o n d s a t 50. T h ese p u r ­
r a p id loa d in g an d u n lo a d in g or ore , co a l, steel rails, lu m b er, & c., and also
chasers assum e and agree t o p a y th e r e c e iv e r ’s floatin g d e b t o f a b o u t $ 3 0 0 ,­
ow n s the h a rb or at M ich ip lco te n , in clu d in g ore d o c k s an d fa c lllth s ca p a b le
000
the
Intervening
claim
s
now
o
n
file
If
allo
w e d b y th e C o u rt, an d oth er
o f han dlin g 2,000 tons o f ore p e r h o u r, as well as co m m e rcia l d o ck s eq u ip p e d
c o n tin g e n t claim s against the p r o p e r ty .
A rran g em en ts h a ve been m ade
fo r the h an d lin g o f all o th er m aterial. T h e c o m p a n y ow n s and op e ra te s on
the G reat Lakes a freigh t steam ship line w ith a ton n age (in clu d in g a steam er I f o r p a y m e n t o f y o u r b o n d s, par an d interest to J u ly 1 1910, t o the full
e x t e n t o f the legal d e b t e x is tin g o n th a t d a y , a t th e O ld C o lo n y T ru st C o.
u n d er c on stru ction ) o f 15,600 tons; carry in g o re , co a l, steel rails, grain, & c.
In B o s t o n , less $34 per b o n d d e d u cte d t o r o v e r the to ta l e xp en se o f the
Cost of C on stru ction .— 'T h e line Is n o w b ein g e x te n d e d to the C an. P a c.
co m m itte e ’, a m o u n tin g to $96,594 an d Inclu din g Its c o m p e n s a tio n , and that
R v . near l lo b o n , a b o u t 145 m iles o f new' co n s tr u c tio n , o f w hich 91 m iles
o f the O ld C o lo n y T rust C o. an d Its cou n sel fees and o th e r disbu rsem en ts.
h a v e a lread y been gra d e d . T h e c o s t o f c o m p le tin g the line, 225 m iles,




.—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.
.—See
Chesapeake & Ohio RR. of Indiana above.
.—The committee, consisting of Seth M. Carter,
Chairman, Weston Lewis, Charles H. Gilman and George S.
Stoekwell, 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:

94

THE CHRONICLE

A m o u n t D u e on
[C om p u ted in
in terest th ereon
F e b . 1 1.909 a n d

E a ch B on d — N et A m ou n t to be D istribu ted a fter D ed u ctin g.
a c c o r d a n c e w ith C ou rt decrees, In clu din g fu ll p r in c ip a l a n d
a t 5 % to J u ly 1 1910, a n d all o v e rd u e c o u p o n s m a tu rin g
p r io r th e re to w ith Interest th ereon a t 6 % t o J u ly 1 1 9 1 0 .J
Total D u e .
N et
C in cin n a ti R ic h m o n d & M uncle b o n d s ________ . .
§ 1 ,143 50
$1 109 50
C h ic a g o & C in cin n a ti b o n d s ________________
_
i 15440
1 120 46
C in cin n a ti & In d ia n a W e ste rn b o n d s ______________
1,134 67
l ’,100 67

Cincinnati Traction Co.— E q u i p m e n t N o t e s . —A press dis­
patch reports the issue of $360,000 5% equipment notes, re­
deemable $36,000 yearly.—V. 84, p. 1052.
Cumberland Railway & Coal Co.—- L e a s e . —See Dominion
Steel Corporation under “Industrials” below.—V. 87, p. 37.
Galveston Beaumont & Northeastern Ry. —See Miller &
Vidor Lumber Co. under “ Industrials” below.
. Illinois Central RR.— S e t t l e m e n t o f C l a i m s . —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.

[V O L . L X X X X I .

K ltta n n ln g , In th e p a r t o f W I c k b o r o a d jo in in g th e fo rm e r a n d In th e
b o r o u g h o f A p p le w o ld .. T h e E le c tr ic L igh t C o. ow n s th e M an or L ig h t,
H e a t & P o w e r C o ., w h ich has a fra n ch ise In M an orville, & c a n d Is p re­
p a r in g f o r c o n s tr u c tio n ; also the F o r d C ity P o w e r C o ., w hich Is arra n gin g
t o b u ild in t o F o r d C ity , w here a t p re se n t there is a sm all ligh t c o m p a n y
o p e r a te d b y th e m u n ic ip a lity g iv in g o n ly night s e rvice.
P y
T h e d is tric t s erved has great n atu ral reso u rce s, ch ie fly co a l, n atu ral gas
a n d agricu ltu ra l; th e m a n u fa ctu rin g Industries arc v e r y Im p orta n t
T h e t r ib u ta r y p o p u la tio n to ta ls a b o u t 2 5 ,0 0 0 a n d co n d itio n s fa v o r m aterial
g r o w th .
T h e s treet ra ilw a y fra n ch ise s h ave fro m 86 to 92 years t o rune le ctr ic ligh t fra n ch ise s, n o lim it; there are n o b u rd en som e restriction s
’
O u tsta n d in g ca p ita l s to c k $ 5 0 0 ,0 0 0 .
A u th o riz e d b o n d Issue $350 000
o f w h ic h $28 ,000 Is reserved t o retire im m e d ia te ly $27 ,500 u n d e rly in g
b o n d s , $ 25 ,000 fo r fu rth e r e x te n sio n s s u b je c t t o a p p ro v a l o f y o u rse lv es an d
th e U n io n T ru st C o. o f P itts b u r g h , tru ste e , an d $70 ,000 fo r fu rth e r im ­
p r o v e m e n ts n ow u n d e r w a y , th e rem ain in g $22 7,00 0 t o be Issued Im m e­
d ia te ly t o p a y flo a tin g d e b t.
T h e m o rtg a g e p ro v id e s a sin k in g fu n d o f
1 0 % o f th e gross re ce ip ts o f the street ra ilw a y a n d also o f the co m p a n ies
c o n tr o lle d , o n e -h a lf th e re o f fo r the p a y m e n t o f the b o n d s, a n d the re m a in d er
e ith e r f o r e x te n sio n s a n d b e tte rm e n ts t o th e r a ilw a y o r fo r th e p a y m e n t
a n d c a n ce lla tio n o f b o n d s.
•
E a rn in g s fo r Y ears end. J u n e 30 ’ 05 to ’09 and H a lf-Y e a r end. D ec . 31 ’ 0 9 ­
1004-05. 1905-06. 1906-07. 190 7-0 8. 1908-09. 6 M o s . ’ 09.
G ross receip ts . . $44,590 $56 ,865 $57,182 $64 ,742 $ 7 0 , 4 5 1 $ 3 8 , 3 8 2
N e t (a ft. o p .e x p .) 2 2 ,060
30,524
3 0,015
28,892
3 1 ,7 5 9
14,990
^ h e^ netearnln gsi d u rin g th e jn e x t three years, a fte r a llo w in g fo r Increased
m a in te n a n ce , sh ou ld Increase fro m a b o u t 9 lA % to 1 1 % .
D ire cto rs: F . A . M oesta, P res, a n d G en. M gr.; Jam es M c C u llo u g h ____
J r .,
T re
reas.;
bee. and T
a s.: J o h n A . F o x , H e n ry E . M oesta a n d Charles J. M oesta ,
all o f K ltta n n ln g , P a.

T h e oth er ca r com p a n ie s w h ich are In v o lv e d , an d m o st, If n o t all, o f
w hich are said t o be a b o u t t o se ttle , are th e M em phis Car C o ., th e W est
P u llm an Car C o. (form erly th e O sterm an n M tg . C o .) , th e N ew O rleans Car
C o. a n d the A m erica n Car & E q u ip m e n t C o ., th e la tte r be in g In n o w a y c o n ­
n ected w ith th e A m erica n Car & F o u n d r y C o .— V . 9 0 , p . 1554.

^ Lehigh Valley RR.— S e t t le m e n t w ith S u b s i d i a r y . —The Pub.
Serv. Commission has authorized the Lehigh Valley R a i l w a y
Co. to issue $825,000 50-year 5% debentures to the Lehigh
Interborough Rapid Transit Co.— N e w P l a n P r o p o s e d f o r Valley RR. Co. on account of advances made during 1908,
S u b w a y E x t e n s i o n . —President Shonts this week made an 1909 and up to June 30 1910, for improvements and better­
offer to the city to operate a subway to be constructed by the ments.—V. 90, p. 1676, 1101.
Lewiston (Me.) Augusta & Waterville Ry.— F i r s t D i v i ­
city as an extension of the present subway, to extend on the
East Side from 34th to 194th St. by way of Lexington Ave. d e n d . —An initial quarterly dividend o i ' 1 % % has been de­
and on the West Side from Times Square to the Battery by clared on the $600,000 preferred stock, payable Aug. 1 to
way of Seventh Ave., and to Pineapple St., Brooklyn, and holders of record July 15.—V. 85, p. 469.
through Pineapple and Fulton streets to a connection with
Lincoln (Neb.) Traction Co.— E a r n i n g s . —McCoy & Co. of
the existing subway and a further extension from Flatbush Chicago, who are offering a block of the 5% bonds, report
Ave. and the Eastern Parkway to Nostrand Ave.
earnings for the year ending Jan. 31:

T h e s u b w a y , p a rt 4 -tra ck an d part 2 -tra ck , w o u ld , he sta te s, c o s t a b o u t
$ 7 0 ,0 0 0 ,0 0 0 , a n d w o u ld be o f m o re va lu e t o the p u b lic th a n the p ro p o se d
tr l-b o r o u g h r o u te , estim a te d t o c o s t $ 1 2 5 ,0 0 0 ,0 0 0 . T h e co m p a n y p r o p o s e s ,
If th e c it y will use Its c r e d it In th e bu ild in g o f th e e x te n sio n s, t o o p e ra te
th e m , g iv in g free transfers o v e r a n y part o f th e In te rb o ro u g h system and
p a y th e c it y all th e net p rofits fo r th e first 5 years a n d half o f the net profits
th erea fter. V a riou s ch arges are, h o w e v e r , to be d e d u cte d fro m th e gross
p rofits , an d It Is p r o p o s e d th a t th e c it y shall m ake g o o d -a n y deficit In th e
so -ca lle d o p e r a tin g e x p e n s e s .— V . 90, p . 1170.

F is c a l
Y ear—

G ro ss
O p e r a tin g
E a r n in g s . E x p e n s e s .

1909-10 ---------------------..$ 5 6 0 ,8 1 7
1908-09 ------------------------- 526,846
— V . 90, p . 1363.

$ 36 5,80 8
3 4 9 ,3 5 0

N et
E a rn in g s.

$ 20 1,00 9
177 ,496

B ond
B a la n c e ,
I n te r e s t. S u r p l u s

$ 56 ,000

$ 14 5,00 9

Manhattan Ry., New York.—-D i s c h a r g e d o f R e c o r d . —The
Metropolitan Elevated Ry. Co. first mortgage, dated July 10
Kanawha & Michigan Ry. —N e w D i r e c t o r . —Col. C. S. 1878 and due July 1 1908 (Central Trust Co., trustee), has
Reynolds, President of First Nat. Bank of Toledo, has been been discharged of record.—V. 89, p. 1280.
Memphis (Tenn.) Union Station Co .— N o t e s O f f e r e d —
elected a member of the board.—V. 90, p. 1425, 977.
White, Weld & Co., N. Y. and Chicago, are offering at a
Kansas City Mexico & Orient Ry.— B o n d s O f fe r e d i n L o n ­
price to yield 4J^% $500,000 5% collateral gold notes of
d o n —S t a t u s . —Parr's Bank, Ltd., and Boulton Bros. & Co.
$1,000 each (c*), dated Nov. 1 1909 and due Nov. 1 1911,
of London, under authority from the purchasers, received but
Nov. 1 1910 or May 1 1911 at par and int. Int.
on their behalf from June 25 to 29 applications at the price M. <callable
Authorized and outstanding, $1,500,000. Union
of 84 (London terms), equal to £168 per bond of $1,000, Trustfc N.
Co., New York, trustee. A circular says:
for $5,000,000 1st M. 4s, dated 1901 and due Feb. 1 1951,
teed jo in t ly an d se v e ra lly , p rin cip a l an d In terest, b y e n d o rse m en t
the allottees of each $1,000 bond being entitled to option o n Geuaaran
ch n o te , b y the L o u isville & N ash ville R R . C o ., N ash ville C h a tta ­
is R y . , S t. L ou is I r o n M ou n tain & S o u th e rn R y . C o .,
certificates representing an option to purchase until June 1 Sn oo uo gtha e rn& RS t.y . LCou
o. an d S t. L ou is S o u th w e ste rn R y . C o .; a n d secu red b y d e ­
1913 three fully paid preferred shares of $100 each at the p o s it w ith the trustee
o f all th e o u ts ta n d in g $ 2 ,0 0 0 ,0 0 0 M em phis U n ion
n C o. 1st M . g o ld 4s d u e N o v . 1 195 9, w h ich are also fu lly g u a ra n te e d ,
price of $40 (London terms) per share and three fully paid JSotaintio
tly an d s e v e ra lly , b y the a b o v e five c o m p a n ie s . T h e b o n d s are se cu red
common shares of $100 each at the price of $25 (London b y a d ir e ct first m tg e . o n all th e real e state an d p r o p e r ty o f th e c o m p a n y
In M em p h is, T e n n .; th e y w ere Issued In 1909 t o c o v e r co st o f lan ds a c ­
terms) per share. An advertisement said:
q u ir e d an d to p ro v id e fo r th e c o n s tr u c tio n o f co m m o d io u s passenger ter­

T h e shares are h e ld In a v o t in g trust until J a n . 1 1917, a n d m eanw hile are
rep resen ted b y v o t in g tru st certifica tes. T h e o p t io n certificates w ill be
d eliv ered s ep a ra tely from the b o n d s b y th e U n ite d S tates & M exican T ru st
C o .; th ose rela tin g t o th e p re f. shares will co n ta in a c o n d itio n th a t, In th e
e v e n t o f th e “ m a k in g u p p rice ” o f such shares o n th e L o n d o n S to c k E x ­
ch a n ge fo r tw o co n s e c u tiv e a c c o u n ts be in g $50 o r o v e r , th e o p tio n m ust be
ex ercised w ith in 14 d a y s th e re a fte r o r It w ill lapse. A like c o n d itio n exists
In th e e v e n t o f th e m a k in g u p price o f th e c o m m o n shares b e in g $35 o r o v e r .
T o t a l a u th . c a p ita l s to c k $ 7 5 ,0 0 0 ,0 0 0 , d iv id e d Into ‘ $ 3 7 ,5 0 0 ,0 0 0 4 % n o n c u m . p ref. a n d $ 3 7 ,5 0 0 ,0 0 0 c o m m o n .
Extracts from Letter of A . E. Stilwell, President, and E. Dickinson, Vice­
President and (icncral Manager, June 1910.
[A ddressed to B o u lt o n B ros. & C o ., 39 O ld B ro a d S treet, L o n d o n , E . C.]
T h e ra ilw a y w ill, w hen In fu ll o p e r a tio n , e x te n d fro m K ansas C ity, M o .,
to T o p o lo b a m p o , M e x ., 1,659 m iles, a n d fro m K an sas C ity , v ia San A n g e lo ,
t o D el R io , on th e R io G rande R iv e r , 160 m iles, In all 1,819 m iles, o f w hich
139 m iles are th e s u b je c t o f lease o r t r a ffic a g reem en ts. T h e con stru ctio n
c om p a n ies h a v e a lrea d y ex p e n d e d o n th e ra ilw a y o u t o f th eir ow n resources
$ 1 5 ,0 0 0 ,0 0 0 g o ld an d a fu rth er $ 7 ,0 0 0 ,0 0 0 d e riv e d fro m th e sale o f bon d s
o f th e r a ilw a y , m a k in g a to ta l o f $ 2 2 ,0 0 0 ,0 0 0 . W ith a p r o p rie ta ry o f a b o u t
3 ,0 0 0 sh areh olders, th e y h a v e c o n tr a c te d to p r o v id e Interest o n the b o n d s
n o w offered fo r sale an d th e o th e r b o n d s o f th e c o m p a n y n o w held b y th e
p u b lic up to an d In clu din g th e c o u p o n falling d u e A u g . 1 1912. 737 m iles
o f roa d h a v e been fin ish ed, w h ich , w ith th e 139 m iles held u n d er lease o r
tr a ffic a g reem en t, m ake 876 o f system n o w In o p e r a tio n .
W ith fu n d s p r o v id e d b y th e present sale o f b o n d s, sale o f to w n site s,
th e subsidies earn ed from the M exica n G o v e rn m e n t a n d o th e r resou rces o f
th e c o n s tr u c tio n c o m p a n ie s , It Is ca lcu la te d th a t th e line ca n be co m p le te d
t o D el R io an d C h ihu ahua w ell w ithin tw o years fro m d a te . A n Im porta n t
th rou g h system w ill th u s be co m p le te d east an d w est In M e x ico a n d m u ch
v a lu a b le th rou g h business w ill a ccru e .
O ne y ea r a fte r D el R io a n d C h ihu ahua are reach ed th e line sh ou ld be
finished th r o u g h o u t to T o p o lo b a m p o , th e sp len did h a rb o r c o n ce d e d to th e
r a ilw a y b y th e M ex ica n G o v e rn m e n t. T h e Sierra M adre M ountains h a v e
a lr e a d y been p ierced b y th e r a ilw a y , a n d trains are ru n n in g o v e r th e d iv id e
a t a h eig h t o f 8 ,1 5 2 feet a b o v e sea le v e l, w ith n o h ea vier grade than 2 H %
an d p r a c tic a lly n o sn ow a n d th erefore w ith n o need fo r sn o w sheds.
A s a c o m p le te d system to D el R io an d C h ihu ahua, w e estim ate th a t th e
net earnings o f th e roa d s h o u ld be o v e r $ 2 ,0 0 0 per m ile, o r m ore th an tw ice
th e a m o u n t requ isite to p a y Interest o n all b o n d s, w h ich It Is ca lcu la te d w ill
be then Issued u n d er th e m o r tg a g e o n th e m ain line.
A h ig h ly a d v a n ta g e o u s w o rk in g agreem en t has been entered Into w ith the
C h icago & A lt o n R R . C o . fo r th e m u tu al h a n d lin g o f th ro u gh tr a ffic be­
tw een C h icago a n d th e P a c ific C oast a n d th e R e p u b lic o f M e x ico .
(C om ­
pare V . 90, p . 1 0 5 .)— V . 91, p . 38.

Kittanning & Leechburg Railways.—Childs & Childs
and Darr & 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
105 and int. Union Trust Co. of Pittsburgh, trustee. Par
$l,000c*. Int. M. & S. No deduction for any tax.
Abstract of Letter from Pres. F. A. Moesta, Kittanning, Pa., April 30 1910,
to Aforesaid Bankers.
P » T h c s c bonds^are a first m o rtg a g e o n (1) th e e le ctr ic r a ilw a y a b o u t 10 m iles
In len g th c o n n e c tin g th e to w n s o f F o r d C ity , M a n o rv ille , K ltta n n ln g an d
W I c k b o r o , lo ca te d a lo n g th e A llegh en y R iv e r a b o u t 45 m ile s n o rth e a st o f
P itts b u r g h , a n d (2) all the ca p ita l s to c k o f th e K ltta n n ln g E le ctric L igh t
C o .,iw h lc h c o n d u c ts an e le ctric ligh t a n d p o w e r business In t h e b o r o u g h o f




m in a ls In M em phis fo r the a b o v e five ro a d s.
A u th o riz e d a m o u n t o f first
m t g e ., $ 3 ,0 0 0 ,0 0 0 , the $1 ,0 0 0 ,0 0 0 unissued b e in g reserved t o co v e r fu rth er
p o ssib le e xp e n d itu re s u p o n the p r o p e r t y . C om pa re V . 89, p . 1 41 1.—
V . 9 0 , p .2 3 6 .

Metropolitan Street Ry., New York.—Judge Lacombe in
the United States Circuit Court 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.—R e p o r t .—See “ Annual Reports.”
D i v i d e n d I n c r e a s e d . —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 & Texas Ry.— O f fe r i n g

o f S ecu red N o tes

—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 86)^
per £ is guaranteed. Union Trust Co. of N. Y., trustee.
— P u r c h a s e o f T e x a s C e n tr a l R R .

Extract from Letter of Edwin H aw ley, Chairman Executive Com m ittee,
Dated July 1 1910.
T h e n otes are t o be u ltim a te ly secu red b y d e p o s it w ith th e trustee o f —
$ 3 ,0 0 0 ,0 0 0 M . Iv. & T . T e rm in al C o. o f S t. L ou is 1st M . 5 % gold b on d s
(a first m o rtg a ge o n new term in al p r o p e r ty In S t. L o u is ).
*3 ,8 5 6 ,4 0 0 T e x a s Central R R . C o . s to c k (o f w h ich $ 1 ,2 5 4 ,3 0 0 Is pref. s to c k
an d $ 2 ,6 0 2 ,1 0 0 c o m m o n s t o c k ), to g e th e r w ith a n y fu rth er
a m o u n ts a c q u ir e d .
(C o m p a re V . 90, p . 1556, 1678.)
6 ,3 0 0 ,0 0 0 M . K . & T . R y . C o. gen . m tg e . 4 ^ % g o ld b o n d s.
* T h e M . K . & T . R y . C o. ow n s $ 3 ,8 5 6 ,4 0 0 T e x a s C entral R I t . C o. s to c k
(to ta l Issue, $ 4 ,0 0 0 ,0 0 0 )..a n d th e T e x a s R a ilro a d C om m ission w ill be asked
t o a p p ro v e o f th e e x ch a n g e o f th e c o m p a n y ’s present s to c k ca p ita liz a tio n
Into a p p ro x im a te ly $ 3 ,7 0 0 ,0 0 0 co n s o l, m tge . 6 % b o n d s and $30 0 ,0 0 0 s to c k ;
If such a p p ro v a l Is secu red, all the c o n s o l, m tge. bo n d s an d s to c k Issued In
lieu o f the d e p o site d s to c k w ill be p led ged un d er th e trust agre e m e n t. T h e
T e x a s Central R R . C o . ow n s 267.23 m iles o f ro a d fro m W a c o , T e x ., t o R o ta n , T e x ., a n d th e new p ro p o s e d c o n s o l, m tg e . b o n d s w ill be s u b je c t to
prior Hen b o n d s o f th a t c o m p a n y , o f w hich $1 ,1 3 9 ,0 0 0 are n o w In the hand3
o f th e p u b lic . T h e T e x a s R a ilro a d C om m ission has p la ced a v a lu a tio n on
the T e x a s Central R R . as o f J u ly 1 1909 o f $ 5 ,2 0 2 ,6 6 8 .
T h e pro ce e d s o f th e a b o v e $ 1 0 ,0 0 0 ,0 0 0 n o te s are to be used to finance
the c o s t o f term inals In S t. L o u is , as a b o v e , new e q u ip m e n t an d Im p rove­
m ents, an d th e a c q u is itio n o f th e s to c k o f th e T e x a s Central R R . C o ., a
v a lu a b le feed er.
T h e net Incom e fo r th e fiscal y e a r e n d in g Ju n e 30 1009, a fter p r o v id in g
fo r fix e d ch arges, ta x e s, rentals, & c ., a m o u n te d to $ 1 ,3 7 4 ,2 9 5 , w hile fo r
the 10 m on th s e n d in g A p ril 30 1910 th e total o p e ra tin g reven u e s h o w s an
Increase o f $ 1 ,0 6 9 ,6 8 5 , a n d the net o p e r a tin g In com e a fte r o p e r . e x p e n s es

a n d ta xes an Increase o f 5263,053 o v e r th e 10 m o n th s e n d in g A p ril 30 1009.
— V . 90, p . 1554. 1491.

New Jersey & Hudson River Railway & Ferry Co.—S a l e —
See Public Service Corporation of N.J.below.—V.88,p.375.
New York Susquehanna & Western RR.—B o n d s L i s t e d .—
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).
E a r n i n g s . —For 10 months ending April 30:
T en
O perating
M on th s—
R evenu e.
1 0 0 9 -1 0
5 2 ,9 0 5 ,8 2 6
1 0 0 8 -0 9 ____ 2,7 5 8 ,6 9 3
— V . 90, p . 1364. 914.

N et {a fter
T a x es ).
5855,096
905 ,785

Other
F ix e d
A d d 'n s &
Incom e.
Charges. Bett'ts.
594 ,9 2 2 584 0,61 6 555 ,039
.................................. ..
.............

H al.,
S u rp .
554,363
- ...........

Norfolk & Portsmouth Traction Co.—P l a n R a t i f i e d . —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 to receive one share of new
common and the privilege of subscribing for one share of the
pref. at §60, par §100. Practically the entire subscription
is said to be assured. See plan, V. 90, p. 1425, 1614.
Public Service Corporation of New Jersey.—A c q u i s i t i o n s .
—It was announced on July 1 that the company had ac­
quired control of the Morristown (N. J.) Gas Light Co.
(V. 72, p. 630); capital stock, §367,500; no bonds. Also of
the New Jersey & Hudson River Ry. & Ferry Co. (see p. 50
of “ Electric Railway Section.” )
T h e o ld d ire cto rs o f b o th com p an ies h a v e resign ed In fa v o r o f represen­
ta tiv e s o f the P u b lic S e rvice C o rp o ra tio n . T h e term s o f p urchase are not
a n n o u n c e d , b u t th e h olders o f all the 5 2 ,5 0 0 ,0 0 0 co m m o n s to c k o f the H ail­
w a y & F erry C o. It Is said will have equ a l rights t o (p articipate In the sale.
T h e pu rch ase Include all o f the 5307,500 ca p ita l s to c k o f th e M orris­
to w n Gas L ig h t C o. and p ra ctica lly all o f the 52,5 0 0 ,0 0 0 co m m o n s to c k o f
th e N . J . & H udson R iv e r R y . & F erry C o. T h e last-n a m ed c o m p a n y
o n F e b . 25 1910 a b s o r b e d b y co n s o lid a tio n Its leased line, th e H u d so n
R iv e r T r a c tio n C o .— V . 90 p . 1614, 1301.

Quebec Railway, Light, Heat & Power Co., Ltd.—L i s t e d .
—This company’s shares (par §100) arc 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 . F o r g e t, M on treal, 24,334 shares; G illctt & S tra ch a n , 1,823; J . N .
G rcen sh lek ls, 3 ,7 0 6 : M ontreal T ru st C o ., 6,2 6 4 ; M cD o u g a ll & C ow an, 7 ,3 9 1 ;
R o b t . M a ck a y . 3 ,3 5 0 ; P ltb la d d o & C o ., M on treal, 1,127; F ran k W . R o s s ,
Q u e b e c, 1,100: W . G . R o s s , M ontreal, 1,783; It. A . S m ith , In tru st, 7 ,5 7 7 ;
Sun L ife , 3 ,1 0 0 ; C. L o m e W e b s te r, H a lifa x , 2 ,0 1 1 ; W o o d , G u n d y & C o .,
T o r o n t o , 1,912; B u rn et & C o ., M on trea l, 1,717.
T h e c o m p a n y w as Incorporated u n d er th e law s o f C a nada N o v . 19 1909
t o u n ite the electric ligh t an d p ow er, gas an d street ra ilw a y enterprises o f
th e c ity o f Q u eb ec, and In that c o n n e c tio n w as a u th o rize d to Issue 5 9,500,000
o f th e tota l Issue o f 5 10 ,000 ,00 0 s t o c k , all o f o n e class; also 5 4 ,9 4 5 ,0 0 0 o f a
to ta l Issue o f 5 10 .000 ,00 0 5 % 3 0 -y e a r c o n s o lid a te d g o ld b o n d s, d u e D ec. 1
1939, b u t redeem able b y d raw in g o r o n n o tice a t 105 an d ln t. o n a n y Interest
d a y a fter D ec. 15 1914; Interest J . & D .
W h ile co n tr o l o f th e o p e ra tin g co m p a n ie s has been o b ta in e d , th e separate
co r p o r a te existen ce o f the Q u ebec R a ilw a y , L ig h t, H eat & P o w e r C o .,
an d o f som e o r all o f th e o th e r co m p a n ie s ,Is c o n t in u e d ,fo r th e present at
least. T h e a m o u n t o f securities a c tu a lly Issued b y th e new c o m p a n y to
Ju n e 22 1910 w as 5 9 ,4 9 9 ,5 0 0 s to c k and 5 4 ,9 9 5 ,4 0 0 b on d *.
D e n om in a tion s
o f b on d s: 5 1 ,0 0 0 , o r £205 9s. 8 d .; 5500, o r £102 14s. 1 0 d ., a n d 5100, o r
£20 10s. 11 M d.
,
U n d er th e term s o f th e new 51 0 ,0 0 0 ,0 0 0 m o r tg a g e , b o n d s w ere to be Issued
o r reserved as fo llo w s : (1) 5 2 ,5 4 0 ,3 0 0 to be d e liv e re d to th e c o m p a n y fo r t h w ith fo r general p u rposes: (2) 5 1 ,6 5 9 ,7 0 0 t o be d eliv e re d w hen paid fo r In
cash a t p a r, the p roceed s to be used to p a y fo r (a) 1,908 co m m o n shares o f
Can. E l. L t . C o. at par, 5 19 0,80 0, (b) 1,407 p re f. shares o f Can. EL L t . C o.
a t 5120 per share. In all 5 16 8,84 0, (c) 7,500 pref. shares o f Q u ebec R y ., L t.
& P ow er C o. at 5120 p er share. In all 590 0 ,0 0 0 , (d) th e rem ain der to g o to
th e c o m p a n y fo r general pu rposes; (3) 5 3 ,6 5 9 ,0 0 0 are reserved t o retire
th e u n d erlyin g b on d s still o u t — see table be lo w ; (4) 574 5,00 0 t o be e x ­
ch a n ged fo r 1,050 fu ll-p ak l shares o f 5200 each an d the 530 0,00 0 b o n d s o f
th e Q u eb ec Gas C o .: (5) 550 ,400 to be held fo r e x ch a n g e fo r an equa l par
v a lu e — 252 shares— o f Q u ebec Gas C o. s to c k : (6) rem ain in g 5 1 .3 4 5 ,6 0 0 re­
serv ed fo r fu tu re exte n sio n s and a c q u isitio n s o f p rop erties, shares, b o n d s o r
oth er securities, o r fo r a d va n ce s t o s u b sid ia ry co s . fo r e x te n s io n s , a d d i­
tion s an d b etterm en ts.
S ecurities Pledged U nder 51 0 ,0 0 0 ,0 0 0 M tg e.— A s Reported D ec. 15 1909.
[A ll s u b s e q u e n tly acq u ire d shares, & c., o f these su b sid ia ry c o m ­
panies to be also p le d g e d .]
-N o .S h a r e s S to c k - R onds
R onds
Issu ed . Pledged. Pledged.
Still Out.
Q u eb ec J a cq u es Cartier P o w e r C o . . 6,400 * 6 ,3 5 0
N one
584 9,00 0
F ron ten a c Gas C o ------------------------------- L 0 0 0
*950
“ ?/”
“ V"
Q u ebec Gas C o ______________________ 1,500
1,248
5 3 0 0,00 0
N one
Q u eb ec R y ., L t . & P o w e r C o . / 7 % p f 7,5 0 0
4,0 0 0
_______
5 2 ,5 0 0 ,0 0 0
(see “ z “ belo\V.)
[c o m .2 5 ,0 0 0 £14,000
_______ (5s 1913-23)
C anadian E l. L t . C o ..................j pref . 1,407
705
----------310 ,000
( c o i n . 1,908
060
.............d a te d J a n ’ 01
* R em a in in g 50 shares being held as d ir e cto r s ’ q u a lify in g shares. “ i/” T h e
c o m p a n y , h a v in g a cqu ired all th e b o n d s o f the F ro n te n a c G as C o .,c o v e ­
n a n te d to cause their ca n cella tion w ith o u t u n n ecessary d e la y ,
" z ” The
c o m p a n y d ecla res that It has set aside 50,000 shares o f Us c a p ita l s to ck
(eq u iv a len t to 55 ,0 0 0 ,0 0 0 ) to be used s o le ly fo r the pu rpose o f a cq u irin g
and p a yin g f o r 25,000 shares (e q u iv a le n t to 52 .5 0 0 ,0 0 0 ) o f c o m m o n sto ck
o f t h e Q u ebec R y ., L t. & P ow er C o ., be in g th e en tire Issue o f the c o m m o n
shares o f said c o m p a n y , w hich shares are to be a c q u ir e d o n th e basis o f
tw o shares o f t h e c o m p a n y fo r each o n e (co m m o n ) share o f th e Q u e b e c
R y ., L t . & P o w e r C o / ’
E stim ated E a rn in g s 1910.
E stim ated net e a r n in g s ____ ________________
5698,733
B o n d Interest on 5 3 ,6 5 9 ,0 0 0 u n d e rly in g b o n d s _______________________ 186,050
S u rp lu s [ln t. o n 5 4 ,9 9 5 ,4 0 0 5 % con sols n o w o u t calls fo r 524 9,7 7 0 .— E d . ] --------------------------------------------------------------------------------------- $512,683
N o te .— T h is estim a te Is fro m circu la r o f the D o m in io n S ecu rities C o rp o ra ­
tio n , L t d ., o f T o r o n t o , w ho are o lle rln g a t par an d lnt. a b lo c k o f the
$84 9,00 0 u n d erly in g llrst re fu n d in g m tg e . 5 % g o ld b o n d s o f the Q u cb e cJ a cq u es C artier E lectric C o ., par $1,000 ( c * ) , d a te d 1901 an d due D ee. 1
1931; Interest J . & D . In N ew Y o r k : T ru s te e , T ru s t C o . o f A m e rica , N . Y .
Condensed

A u th oritative D escrip tio n o f Am algam ated C om pa nies Jrom
“ A n n u a l F in a n cia l R ev iew ."
Quebec R a ilw a y, Light & Pow er C o .— H as a w a te r-p o w e r p la n t, present
c a p a c ity 7 000 b . p ., at M o n tm o re n cy F a lls, a b o u t 6 m iles from Q u e b e c; an
e x ten s iv e electric light and pow er business, a street railw ay system In
Q u eb ec com p risin g a b o u t 17 m iles o f tra ck , an d a su b u rb a n ele ctric railw ay
e x te n d in g to M o n tm o re n cy Falls, S te . A n n e d e B ea u pre an d C ape T o u rm en te, a dista n ce o f a b o u t 30 m iles, o f w h ich 6 m llesl s d o u b le tra ck . T h is
Hue Is op era ted both as a steam and e le ctric r a ilw a y . T h is c o m p a n y paid
2 % d iv id e n d s on Its $ 2 ,5 0 0 ,0 0 0 c o m m o n s to c k last year, an d has been
stea d ily Im p rovin g In ph ysical c o n d itio n an d llnanclal strength year b y y e a r.
Jacgues-C'artier E lectric C o .— W a te r -p o w e r p la n t situ ated a b o u t 20 m iles
fro m Q u eb ec, present c a p a c ity 4,000 h . p .; also u p -to -d a te steam p la n t In
Q u eb ec, 2,250 h . p .
N o tw ith sta n d in g co m p e titio n o f Q u e b e c R a ilw a y ,
L ig h t & P ow er C o ., has paid su b stan tial d iv id e n d s .




95

THE CHRONICLE

July 9 1910,

C anadian E lectric Light C o — W a te r -p o w e r plan t 8 m iles fro m Q u eb ec,
3.0 0 0 h . p . c a p a c it y . S u p plies e le ctr ic ity to L e v is , R o m u a ld , S t. Josep h
a n d B ien ville.
H as p ro v e d a v e r y p ro fita b le u n d e rta k in g .
Q uebec Gas C o .— O rga n ized In 1849, an d previou s to th e last tw'o o r three
yea rs has earned large d iv id e n d s on Its s t o c k . T h e pla n t has r e c e n tly been
th o r o u g h ly ren ew ed and Is In e x ce lle n t c o n d itio n .
F ron ten a c Gas C o .— H as a w e ll-e q u ip p e d gas p la n t In g o o d co n d itio n .
T h e c o m p e titio n b etw een th e t w o gas co m p a n ie s has been so keen th a t the
p rice o f gas w as re d u ce d first fro m $1 20 to $1 fo r 1,000 f t . , th e n t o 7 5 c .,
fin a lly 5 0 c ., o r b elow c o s t.
T h e p rice o f gas has n o w been b ro u g h t b a c k to $1 20 p er 1,000 f t . an d lt
Is estim a te d th a t the tw o gas co m p a n ie s w ill this ye a r m ak e a t least 510 0,­
000 a b o v e o p e ra tin g e x p e n se s. W ith th e norm al Increase In th e earnings
o f the three e le ctric c o m p a n ie s, and.tlie a m o u n t saved o n general a n d op e ra tln g e x p e n se s, as a result o f c o n s o lid a tio n , there w ill be a s u b sta n tia l surplus
th e first year o v e r an d a b o v e th e b o n d Interest, e q u iv a le n t. It Is es tim a ted ,
t o 2 * 4 % o f th e $ 9 ,5 0 0 ,0 0 0 c o m m o n s t o c k ; an d It Is also e stim a ted th a t in
n o t m ore th a n three years this surplus w ill a m o u n t to o v e r 4 % o n th e s to c k .
“ T h e fiscal y ear o f th e Q u e b e c R a ilw a y , L ig h t, H e a t & P wer C o. began
o n J a n . 1 1910 an d figures h a ve n o t y e t been p u b lis h e d , a lth ou g h *u n d e rsta n d th a t th e d llfc r c n t co m p a n ie s are sh o w in g m u ch larger earn '
sin ce th e y h a v e been m e r g e d .”
D irectors (and O ffic e r s ).
R o d o lp h c F o r g e t, M . P ., M on trea l, P resid en t; L o m e C. W e b s te r , Q ue­
b e c , V ice -P re s id e n t; N eu ville B elleau , Q u e b e c, C h airm an o f th e e x e cu tiv e
c o m m itte e ; H o n . R o b e r t M a ck a y , H o n . J . P . B . C asgraln, J . N . G reensh ie ld s, K .C ., P a u l G a llb e rt, J . W . M cC on n ell, A . H a ig S im s, S . H . E w in g
and W . G . R oss, M on treal; H o n . E . B . G arneau, H o n . C. E . D u b o r d , H on
L . P . PeUItler, K .C .. a n d W . A . M arsh, Q u e b e c .— V 89. p . 1281, 1598.

Reading Co.—P e n n s y l v a n i a

S u p r e m e C o u r t H o l d s T w o -C e n t
U n c o n stitu tio n a l

.—The Pennsylvania Su­
preme Court on July 1 affirmed the decision of Common
Pleas Court No. 4 of Philadelphia rendered on June 26 1909
restraining the enforcement as against the company of the
2-cent passenger rate law passed by the Legislature in 1907.
The company on July 1 1909 resumed the 2^-cent single-fare
rate in effect prior to Oct. 1907. Compare V. 89, p. 42.—
V. 90, p. 1614, 1555.
Rome Watertown & Ogdensburg RR.—R e f u n d i n g . —The
company 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 Co.—B o n d s O f f e r e d . —
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:
P a ssen g er

R a te

In c o r p o r a te d In Q u e b e c.
A u th o riz e d c a p ita l s t o c k , $ 1 ,5 0 0 ,0 0 0 ; Issued,
5 70 0,00 0; par, $100. O f th e $70 0,00 0 co n s o l, first m tg e . b o n d s n ow bein g
Issued, $10 0,00 0 are held In e s cro w t o retire the o u ts ta n d in g Issue o f $10 0,00 0
S h e rb ro o k e S t. R y . b o n d s, d u e Jun e 30 1927.
T h e balan ce o f 580 0,00 0 co n s o l, first m tg e . b o n d s a n d o rd in a r y shares
will rem ain ava ila b le fo r fu tu re re q u ire m e n ts. T h e b o n d s are a first m tg e .
u p o n the h y d ra u lic d e v e lo p m e n t an d tran sm ission lines, u p o n all street
ra ilw a y ext, nstons, an d new ro llin g s to c k , a n d c o v e r th e fra n ch ises an d
e x is tin g lines, ^ ubject o n ly t o $100,000 S h e rb ro o k e S t. R y . b o n d s .
E stim ate o f C onsulting E n gin eers fo r the F ir s t Y ear A fte r W ork I s Com pleted .
Street I iy . P o w er D ep t. R en tals.
Total.
G ross r e v e n u e - - ........................... -5 6 8 ,2 5 0
$52 ,000
______
$12 0,25 0
N et reven u e (a fte r o p e r . cost) - 27,300
39,0 0 0
$3,000
69,300
B o n d Interest calls fo r $35 ,0 0 0 , le a v in g o n a b o v e basis a surplus o f
$ 3 4 ,3 0 0 . T h e gross earnings o f th e o ld ra ilw a y fo r 1909 a m o u n te d to
$ 3 1 ,2 2 2 , an d w ith largely Increased m ile a g e , rea ch in g th e resid en tial s ec­
tio n s, th e a b o v e e stim ate sh o u ld be c o n s e r v a tiv e .
A p p lica tio n s h a ve been
re ce iv e d fo r th e greater p art o f th e a v a ila b le p o w e r, an d there is reason t o
be lie v e th a t o n the c o m p le tio n o f th e d e v e lo p m e n t in N o v e m b e r th e w h ole
w ill be c o n tr a c te d fo r .
S h e rb ro o k e In 1871 had a p o p u la tio n o f 4 ,3 3 2 ; a t
p resen t, a b o u t 1 7 ,0 0 0 .
It Is e stim a te d th a t, In clu din g L e n n o x v llle , w here
B is h o p ’s College Is situ a te d , the street ra ilw a y serves a p o p u la tio n o f 2 0 ,0 0 0 .
A lth o u g h the p o p u la tio n o f th e c it y has increased o v e r 5 0 % In the 15 years
since the street ra ilw a y b egan o p e r a tio n s , the sy ste m has n ever been
e x te n d e d .
It Is n ow p ro p o s e d t o m ore th an d o u b le th e e x is tin g m ileage.
D ire cto rs: P res. Clarence J . M cC u aig, S e c.-T re a s . F ran k T h o m p s o n , S. H .
E w in g an d R . T . H o p p e r , all o f M on treal; W . H . B r o u s e ,T o r o n t o ,a n d
W m . F a rw ell. S h e rb ro o k e .

Temple & Northwestern Ry.—M o r t g a g e . —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 inos.’ notice at par (§1,000 & §500). Int. J. & D. at
Dallas. Trustee, Guarantee State Bank & Trust Co.
Vicc-Pres. and General Attorney H. W. Peck, Temple,
Tex., June 28 1910, wrote in substance:
T h e c o m p a n y has u n d er c o n s tr u c tio n 65 m iles o f line, T e m p le t o H a m il­
to n , w ith 101.9 m iles In all c o n tr a c te d f o r . T h is will brin g th e roa d Into
C o m a n ch e , T e x .; 110 a d d itio n a l m iles are p r o je cte d as an e x te n s io n . T h is
ro a d Is b ein g bu ilt th ro u g h on e o f th e rich est section s in T e x a s , an d w ill
reach fa r m a fte r farm o f c o t to n , c o rn an d o th e r staple agricu ltu ra l products-.
A t T e m p le It w ill c o n n e c t w ith th e S an ta Fe an d M . K . & T . ra ilw a ys,
g iv in g d ir e ct o u tle ts t o the G u lf, an d a t o th e r p o in ts w ith th e F r is c o , the
S te p h e n v llle N o rth & S o u th T e x a s (C o tto n B elt) an d th e O rien t w hen built
th a t fa r. q'he line runs n o rth a n d s o u th th ro u g h a te r rito r y n o t a t present
possessin g ra ilw a y facilitie s.
T h e co r p o r a tio n has a cq u ire d Its rig h t o f w a y t o C o m a n ch e , In clu d in g
d e p o t g ro u n d s , term in a ls, & c ., a n d In a d d itio n t o Its ca p ita liz a tion has
s o m e th in g like $30 0,00 0 In cash . W e p ro p o se to begin la y in g rail in th e
n e x t 15 d a y s an d e x p e c t t o get t o G a tesv llle in S e p te m b e r an d to H a m ilto n
(a b o u t 68 m iles) b y Ja n . 1 1911.
M uch gra d in g has been c o m p le t e d , a n d
P resid en t M cD an iel Is n o w In K ansas C ity n e g o tia tin g fo r rail.
[T h e c o m p a n y w as in co rp o ra te d o n M ch . 16 1910 w ith $10 0,00 0 a u th o r ­
ized ca p ita l s to c k In $100 shares.
D ire cto rs: Pres, an d G en. M g r ., W . J .
M cD a n ie l; V .- P . an d G en. A tto r n e y , H . W . P e ck ; 2d V .- P . , J . B . G rig sb y ;
T r e a s ., P . L . D ow n s, S. P . S ad ler, W . B . F ergu son an d J . W . B ird .
O ffice,
T e m p le , T e x .]

Texas Central RR.—

Ry. —See that co.

S o ld

to

M isso u ri

K a n sa s

&

T exas

above.—V. 90, p. 1556, 1678.
Third Avenue RR., New York.—H e a r i n g s C l o s e d . —The
hearings before the Public Service Commission on the pro­
posed modified plan of reorganization, which had been going
on for about 6 months, were closed late in June. W. D.
Guthrie, summing up for the purchasers of the road at fore­
closure sale, and the bondholders’ committee, said:
T h e p resen t p lan p ro v id e s fo r a r e d u c tio n In fixed charges o f $87 0,00 0
an d fo r u p w ard s o f $ 7 ,0 0 0 ,0 0 0 o f new m o n e y .
I n clu d in g the ca p ita l to be
Issued fo r the la tte r, th e p lan p ro v id e s fo r an a ctu a l re d u ctio n In th e aggre­
gate a m o u n t o f se cu rities o f u p w ard s o f $ 1 0 ,0 0 0 ,0 0 0 .

THE CHRONICLE

96

[VOL. L X X X X I.

deemed advisable, may be effected with the least possible
delay and with the recovery of all property to which the
bondholders are entitled.—V. 91, p. 39.
Twenty-Eighth & Twenty-Ninth Streets Crosstown Ry,—
Wages.—I n c r e a s e s G r a n te d a n d A s k e d . —Among the events
S a l e A g a i n P o s t p o n e d . —The foreclosure sale has been again of the week are:
adjourned to July 13.—V. 90, p. 1556.
Southeastern T errito ry .— A d v a n c e g r a n te d — see e d ito ria l c o lu m n .
P en n sy lv a n ia R R . E ast o f Pittsburgh, E rie and B u ffa lo .— S om e 15,000
United Light & Railways Co.—P l a n . —As stated in train
m en are b a llo tin g o n the q u e stio n o f s trik in g , th e result to be k n ow n
12. A v o lu n ta r y Increase o t 6 % t o o k e ffe ct Ju n e 1, b u t th e m en cla im
V. 90, p. 1678, Child, Hulswit & Co., Grand Rapids, Mich., Jthualyt th
e y are e n titled to fro m 5 to 20?5 m ore th an is p aid b y o th e r c o m p a n ­
plan to organize a company with this name under the ies fo r sim
ilar s e rv ice .— V . 90, p. 1556.
laws of Maine to acquire immediately, by exchange of se­
Wheeling & Lake Erie RR.—A p p l i c a t i o n to I s s u e R e c e i v e r s ’
curities, all of the properties which have been under the gen­ C e r t i f i c a t e s . —Receiver Worthington has applied to Judge
eral direction of Child, Hulswit & Co. for several years; also Taylor in the United States Circuit Court at Cleveland for
Cedar Rapids Gas Light Co. and La Porte Electric Co. permission to issue $188,500 receivers’ certificates to com­
The firm named is receiving subscriptions at par for the new plete the Sugar Creek & Northern RR. and $220,150 to
1st pref. stock (with 40% common stock), subscriptions not purchase tools, construct stations, &c.; also to extend for
to be due until the plan has been declared operative.
one year the certificates due July 1 or to mature in the near
Abstract o f Prospectus.
future, the holders of which have agreed to the extension.—
C om panies to be A cq u ired ( O pera tin g U nder Favorable F r a n ch ises).
V. 91, p. 40.
C om p a re V . 90. p . 1678.
Wisconsin Traction, Light, Heat & Power Co.—A d d i t i o n a l
Cedar R a p id s ( la .) Gas L ig h t C o . ( V . 8 9 , p . 148 5); L a P o rte (In d .) E lec­
tric C o.; F t. D o d g e ( la .) L ig h t C o . (V . 82, p. 104 3): L a P o r te (I n d .) Gas
B o n d s A u t h o r i z e d . —The Wisconsin Railroad Commissioners
L ig h t C o. (V . 89, p . 166 ); M u scatin e ( la .) L ig h t & T r a c tio n C o. (“ E l. R y .
have authorized the company to issue $500,000 5% 30-year
S e c .” ) ; M a ttoon (111.) Gas L ig h t C o . ( V . 81. p. 730 , 1668); C adillac (M ich .)
Gas L igh t C o. (V . 84. p. 8 0 5 ); C h a tta n o o g a (T c n n .) Gas C o. (V . 89, p . 165).
additional first mortgage gold bonds, maturing July 1 1931,
Gas P la n ts.— E n tire gas business in C edar R a p id s (su p p ly in g also s u b ­
for extensions and additions, the bonds to be sold for not less
urbs o f M arion an d K e n w o o d P a rk an d in te rv e n in g te r rito r y ). F t. D odge
and M uscatin e, l a .; C a dillac, M ic h .; L a P o r te , In d .; M a tto o n , 111,, and
than 75% of the par value.—V. 79, p. 1267.

T h e plan . It Is s ta te d , has been re ce iv e d w ith p r a c tic a lly u n a n im o u s a p ­
p r o v a l b y the t w o o r three th o u sa n d h olders ot the securities o f the o ld c o m ­
pany.
T h is Is the first reorg a n iz a tio n the C om m ission has been called to
a c t u p o n .— V . 91, p . 39.

C h a tta n ooga , T en n . E lectric P la n ts .— E n tire ele ctric ligh t and po w e r
business in F t. D o d g e and M u sca tin e , l a ., an d L a P o rte , In d . T h is in­
clu des s a tisfa cto ry c o n tr a c ts fo r lig h tin g th e c it y streets in each c it y .
E lectric R ailw ays.— E n tire e le ctric ra ilw a y business in M uscatin e, la .
H ea tin g P la n ts.— E n tire h o t w ater d istrict h e a tin g system in L a P o rte , I n d .
Capital S tock , Total A u th orized to be $ 3 0 ,0 0 0 ,0 0 0 — Im m ediate Issu e to be
$ 3 ,7 9 9 ,5 0 0 (N o N ew B o n d s ).
First pref. s to c k ($1 2 ,5 0 0 ,0 0 0 ) will be a 6 % c u m u la tiv e s to c k ,
pref. b oth as to assets and d iv id e n d s . Im m e d ia te issue to be_ -8 2 ,1 3 3 ,0 0 0
S econ d pref. s to c k ($ 5 ,0 0 0 ,0 0 0 ) w ill be a 3 % cu m u la tiv e s to c k ,
pref. as to assets an d d iv id e n d s , s u b je c t to th e 1st pref. s to c k ,
and co n v e rtib le a t th e en d ot 3 years fro m d a te o f issue, share
fo r share, in to 1st p ref. o r c o m m o n s t o c k , at o p t io n o f h older.
T h is o p tio n shall co n tin u e fo r 60 d a y s a fte r th e e x p ira tio n ot
3 years and th ereafter th e c o m p a n y shall h a ve th e right to
require con v ersion in to eith er 1st pref. o r c o m m o n s t o c k , as
it m a y elect.
Im m ed ia te Issue to b e ------------------------------------------8 6 6 ,5 0 0
C om m on s tock ($ 1 2 ,5 0 0 ,0 0 0 ) w ill be o rd in a ry c o m m o n s to c k ,
an d w ill tie th e o n ly s to c k h a v in g v o t in g p o w e r.
N o divid en d s
can be paid on this s to c k until full d iv id e n d s at 6 % o n the 1st
p re f. and 3 % o n th e 2d pref. h a v e been paid in a n y one year,
as w ell as a n y a cc u m u la te d d iv id e n d s w h ich m a y e x ist.
Im m ed ia te Issue to b e ------------------------------------------------------------------ -800,000
T h e a b o v e plan p rov id es fo r the re tirem en t o f th e entire floating d e b t o f
all su b sid ia ry c om p a n ies; the re tirem en t o f all b o n d s o f the F t . D od ge L igh t
C o ., the M uscatin e L ig h t & T r a c tio n C o. and M attoon Gas L igh t C o .; an d
th e p ro v is ion o f $25 0,00 0 w o rk in g ca p ita l, so th a t th e U n ited L ig h t <fe R ail­
w a ys C o. w ill c o n tr o l an d o w n the entire c a p ita l s t o c k o f all co m p a n ie s in­
clu d ed In its o rg a n iz a tion , s u b je c t o n ly to th e fo llo w in g :
U nderlying S ecurities that R em ain O utstanding.
B o n d s , 5 % ......................._ _ $ 2 ,2 3 1 ,5 0 0 | P re f. s to c k , 6 % ......... ..............-$5 0 0 ,0 0 0
E stim ate o f E a rn in g s o f A ll the C onstituent C om pa nies.
["B a s e d on present earnings ot c o n s titu e n t co m p a n ie s and assu m in g that
th e Increase w ill be n o gre a te r d u rin g calen d ar year o f 191 0.” ]
G ross earnings o f all th e con stitu e n t c o m p a n ie s ------------------------ — $861,600
N et earnings (a fter o p e r a tin g exp en ses, ta xes an d In su ran ce)--------- 343,375
In terest on $ 2 ,2 3 1 ,5 0 0 u n d e rlyin g 5 % b o n d s an d $500,000 und er­
ly in g 6 % p r e f. s to c k o f c o n s titu e n t co m p a n ie s ------------------------------- 141,575
E arn ings av a ila b le fo r U n ited L ig h t & R a ilw a ys C o -------------------$ 201,800
D e d u ctio n s — D iv id en d s, & c., o f U n ited L ig h t & R a ilw a ys C o .—
6 % o n $ 1 ,8 8 3 ,0 0 0 1st pref. s to c k Issued fo r e x ch a n g e and pur­
chase o f p r o p e r ty , less w o rk in g ca p ita l [1. e ., n o t Inclu din g
$25 0,00 0 issued th erefo r— E d . ] - _____ ___________________________ $112,980
f 3 % on $86 6,50 0 s econ d p re f. s t o c k - .............................................. ............ 25,995
C on serv a tiv e o p e ra tin g e x p e n s e s ............................................................... 20,000

Surplus equ a l t o 5 1 -3 % o n $80 0,00 0 co m m o n s t o c k ...................... $42,825
P rop osed B oard o f D irectors.
F ran k T . H u lsw it, R ich a rd S ch a d d elee, R a lp h S. C h ild an d H ugh Illalr,
all o f G rand R a p id s , b ein g re s p e c tiv e ly P res., V lc e -P r c s ., S e c . and T rca s.
o f C h ild, H u lsw it & C o .; C.lcnn M . A v e rlll (S ec. Cedar R a p id s Gas L t. C o.)
an d J oh n T . H a m ilton , b oth o f C edar R a p id s; G eo. B. C aldw ell (M gr. bond
d e p t . A m . T ru st & S avin gs B a n k ), C h icago; E . G . F lier, M anistee, M ich .;
J . P . H osk in s, C h a tta n oog a , T e n n .; C. A . P e ck , K a la m a z o o , M ich .; W m .
H G a y H en ry B . H erp olsh elm er, C lay II. H ollister, W illia m Ju d so n , Ben­
ja m in C. R o b in s o n , G u y VV. R o u se , E . A . S to w e an d H o w a rd A . T h o rn to n ,
all o f G rand R a p id s , M ich.
O fficers.— P res., F rank T . H u lsw it, 1st V .- P . , R ich a rd Sch ad delee; 2d
V .- P . , R a lph S. C hild; S ec. & T r e a s ., B e n ja m in C. R o b in s o n .
T h e properties Im m ed iately a cq u ire d are lo ca te d In prosperous Industrial
cities, all s te a d ily grow in g an d e v e r y o n e o f th em su rrou n d ed b y co u n tr y
rich In agricultural o r m ineral resou rces. C o m b in e d p o p u la tio n , 184,000
p eop le, and the aggregate a m o u n t o f th e c a p ita l, surplus and d e p o sits o f
th eir 43 banks, $ 6 1 ,7 5 3 ,1 8 6 , as fo llo w s: C h a tta n o o g a , p o p u la tio n , 75,001;
c a p ita l, surplus and d ep osits o f 12 ban ks, $ 1 5 ,9 1 9 ,0 0 0 . C edar R a p id s,
p o p u la tio n , In clu din g su b u rb s, 4 0 ,0 0 0 ; c a p ita l, surplus and deposits o f 9
ban k s, $ 2 5 ,5 4 1 ,0 0 0 .
M uscatin e, p o p u la tio n , 18,000; ca p ita l, surplus and
d ep osits o f 6 ban ks, $ 6 ,7 6 1 ,4 5 1 .
F t. D o d ge , p o p u la tio n , 16,000; c a p ita l,
surplus and d ep osits o f 5 ban ks, $ 5 ,0 8 6 ,7 3 5 .
M a tto o n , p o p u la tio n , 14,000;
c a p ita l, surplus and d ep osits o f 5 ban ks, $ 2 ,3 7 8 ,0 0 0 .
L a P orte, p o p u la tio n ,
1 3 ,000: c a p ita l, surplus an d d ep osits o f 4 ban ks, $ 4 ,5 0 1 ,0 0 0 .
Cadillac,
p o p u la t io n . 8,0 0 0 ; c a p ita l, surplus and d ep osits o f 2 ban ks, $ 1 ,560,000 .
T h e o p e ra tio n s o f th e c o m p a n y w ill be a lo n g sim ilar lines as those o f the
A m e rica n L igh t & 'F raction C o ., w hich w as o rg a n iz e d In 1901; an d its
m arked success Is g en erally w ell k n o w n .
In a d d itio n to the co n so lid a tio n o f
Interests now a cq u ired fro m tim e to tim e w hen e s p e cia lly a ttr a c tiv e sltu t ttlon s are ob ta in a b le , a d d ition a l p rop erties will be taken o v e r .— V . 90, p . 1678.

Wabash-Pittsburgh Terminal.—

S ta tu s

of

R e o r g a n iz a ti o n

—About 96% of the first mortgage bonds (other than
about $6,000,000 held by the Wabash RR.) are deposited
with the followingv committee:
P la n s.

,1. N . W a lla ce (C h a ir m a n ), P aul M o rto n , H aley F lske, H a rry B ron n er,
M y ron T . H errick , G ord on A b b o t t , G e o . P . B u tler, D. C raw ford C lark,
C. C. J a ck son an d A sa T . W in g .

Although several plans of reorganization, including settle­
ments with 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.
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




INDUSTRIAL, GAS AND MISCELLANEOUS.
American Gas & Electric Co.— F i r s t C o m m o n S t o c k

D iv i­

—An initial quarterly dividend of 1% on the $2,500,000
common stock has been declared, payable July 12 to holders
of record July 5.—V. 89, p. 722.
American Meter Co.—S t o c k I n c r e a s e . —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.
d en d .

T h e c e rtifica te w as signed b y W illia m M c D o n a ld , C hristian M e y er,
F re d e rick I I . W e lls, D on ald M c D o n a ld , F re d e rick A lcD o n a ld , G eorge W .
S te d m a n a n d Charles S. S te d m a n . [T h e orig in a l A m erican M eter C o . w as
In co rp o ra te d In N . Y . In 1863 an d Its a u th . s to c k a t la st a c c o u n ts w as
$ 6 ,0 0 0 ,0 0 0 In $100 shares: d lv . ra te r e p o rte d as 6 % . See V . 8 0 , p . 1730.

American Petroleum Co., Los Angeles.— D i v i d e n d

R ed u ced .

—A Los Angeles paper on June 30 said:

T lie A m erica n P etroleu m C o. h a ve r e d u ce d their d iv id e n d rate fro m 12 %
to 8 % p er a n n u m , bu t It Is o n ly e x p e c te d to be te m p o r a r y to m e e t ex tra
d e v e lo p m e n t e x te n sio n s.
(C om pare m a tte r In b ra ck e ts In re p o rt o f U nion
O il C o . o f C a liforn ia, V . 90, p . 1 4 8 5 ).— V . 89, p . 995.

American Woolen Co.— R u m o r D e n i e d . —President William
M. Wood disposes of a rumor regarding the state of his
health by saying: “ I have never been in better health in
my life. I am still on the job.”—V. 90, p. 636, 622.
Congress Hotel Co., Chicago.— D i v i d e n d o n C o m m o n S t o c k
O m itted .
T h e c o m p a n y has o m itte d the d iv id e n d on Its [$ 1 ,900,000] c o m m o n s to c k .
T h is is u n d e rsto o d to be due p rin c ip a lly t o Increased cash req u ire m e n ts on
a c c o u n t o f b o n d m atu rities a n d to the n e ce ssity fo r a larger cash reserve.
T h e c o m p a n y has paid as high as 1 6 % . T h e e x tr a d iv id e n d s w ere cu t o il
r e c e n tly , an d the last p a y m e n t m ade w as at the rate o f 1 0 % . T h e co m m o n
shares h ave sold a b o v e 160; th e y are offered now aro u n d par to 105. [There
are also so m e $38 9,50 0 5°,', pref. s tk . a n d $82 0,00 0 1st M . 5s.]— V . 8 2 ,p . 1325.

—The “ Chicago Record Herald” of July 6 said:

Consumers' Light & Heating Co., Fort Worth, Tex.—

See Fort Worth (Texas) Gas Co. below.—V. 83, p. 157.

(J. B. & J. M.) Cornell Co., New York City.— R e p o r t

of

—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:

C o m m ittee.

It Is o u r op in io n th a t If the w ork n o w In han d be carried to c o m p le t io n , a
s u b sta n tia l surplus w ill rem ain o v e r an d a b o v e the re c e iv e r s ’ [la b ilities!
also th a t It is Im possible for the receivers tp co m p le te the w o rk n ow In han d
w ith o u t fu rth er w o rk in g c a p ita l. T h e $20 0,00 0 w h ich th e y h a v e b o rro w e d
u p on th eir certificates Is now past d u e .
A sale o f the assets a t the presen t
tim e w o u ld . In o u r o p in io n , result In a to ta l loss t o all u n secured c r e d ito r s .
O n the o th e r h a n d , if the c o m p a n y be taken o u t ot the re ce iv e rs han ds
an d a new c o m p a n y organ ized w ith som e w o rk in g c a p ita l. It c o u ld , w ith
p ro p e r m an agem en t, be carried on p r o fita b ly an d Its c a p ita l s to c k m a d e
v a lu a b le .
. . .
.
.
,
T o reorgan ize the c o m p a n y p ro p e rly w ill requ ire the p urchase o f the land
a t C old S prin g u p o n w h ich the c o m p a n y ’s plan t Is e re cte d , the p a y m e n t o f
the re ce iv e rs’ certificates and t lie retirin g o f present o u ts ta n d in g b o n d Issue.
T h e ow ners o f the land a t C old S p rin g h ave signified th eir w illin gn ess to
a c c e p t as Its p urchase price $20 ,0 0 0 In cash (to p a y o il certa in Infant heirs)
a n d $14 0,00 0 par value o f b o n d s o f a new c o m p a n y , p ro v id e d n o t m oro
than $60 0,00 0 o f such b on d s are n o w issu ed. T h e present b o n d h o ld ers
h ave signified their w illingness to su rrender th eir b o n d s fo r 2 o % in b o n d s
a n d 7 5 % in s to c k ot the new c o m p a n y .
P roposed C apitalization o f N ew C o m p a n y , F ollow ing J u d icial Sale.
6 % 20-year b o n d s. T o ta l a u th ., $ 7 5 0 ,0 0 0 : present Issue to b e . . $60 0,00 0
T o purchase C old S pring la n d ---------- --------------------------* } ') 2 ’ 299
F a rt co n sid e ra tio n fo r e x is tin g b o n d s ------ ----------- -- - I o 7 (2u0
O ffered (w ith s to c k bonu s) t o c re d ito rs a t p ar fo r
c a s h __________________________________ _______— 302 ,7 5 0
C apital s to c k ; a u t h ., $ 1 , 7 5 0 , 0 0 0 ; present Issue to b e ------------------ 1,0 0 0 ,0 0 0
As part co n s id e ra tio n fo r e x is tin g b o n d s -------------------- $36 1,25 0
A v a ila b le fo r s to c k b o n u s, S ec-. - - -------------------------038 ,750
T h e reorgan ized c o m p a n y w ill th erefore have at Its disposal $ 3 0 2,75 0
b o n d s an d $63 8,75 0 s t o c k . I t Is p ro p o se d th at these b o n d s be so ld a t par
w ith a s to c k bo n u s [e xa ct a m o u n t o f bo n u s n o t ye t d e te rm in e d .— E d .].
Y o u r c o m m itte e recommends th a t all cred itors su bscrib e fo r the b o n d s,
this b e in g the o n ly w a y th a t the business can be held to g e th e r. T h e
p ro ce e d s o f these b o n d s w ill tie requ ired fo r the fo llo w in g pu rp oses: to
retire re ce iv e rs’ certificates, $20 0,00 0; to p a y cash p art ot purchase price
fo r la n d , $ 20 ,000 ; t o p a y r e ce iv e rs ’ an d cou n sel fees, m o rtg a g e ta x , Incor­
p oration fees an d furnish cash ca p ita l, $82 ,7 5 0 ; t o ta l, $ 30 2,75 0.
Th e receivers an d th eir counsel h ave su ggested th a t If the c o m p a n y bo
reorgan ized a lo n g the lines Indicated th e y w o u ld lie w illin g to a c c e p t b o n d s
fo r their fees. T h e cash requirem en ts w ould th u s lie fu rth er red u ced .
[Signed b y F ran k L . F ro m e n t, C h airm an; B. A . lie g e m a n J r ., G . C .
Carson W . B. S y m m cs Jr. a n d G eorge M cM u rtrlo G o d le y , S e cre ta ry , R o o m
1902, N o. 2 R e c t o r S t ., N. Y . C ity ; te le p h o n e , R e c to r 5,558.
[T he c o m p a n y , m aker ot stru ctu ra l steel for brid ges and bu ild in gs, was
o n M arch 10 1909 p la ce d in the han ds o f A. G ord on M urray an d M lcheal
B lak e as receivers b y the U nited S tates D istrict C o u rt In N ew Y o r k C ity .
T h e c o m p a n y w as csta b ilsh e d in 1853 an d It e re cte d the T o w e r B u ildin g at
50 B r o a d w a y , N . Y . C ity , 9 stories* the llrst s k yscra p e r d o w n to w n . T h e
fo re g o in g plan is Interesting as a m a tte r o f re co rd , th o u g h , w e un d erstan d
that It lias n ot met w itli su fficie n t su p p o r t from th e cred itors to m ake lt
ik e ly o f a d o p tio n w ith o u t so m e m o d lllc a tlo n .— E d .)

J u l y 9 1 9 1 0 .]

THE CHRONICLE

Cumberland Telephone & Telegraph Co.— M i s s i s s i p p i
.—Judge Blount in the Chancery Court at Water Valley,
Miss., on June 28 imposed a fine of $175,000 on the company
for violation of the State anti-trust law.

F in e

T h e c o m p a n y w as ch arged w ith en terin g Into a c o n t r a c t w ith th e O x fo rd
T e le p h o n e C o. to shut oir c o m p e titio n . A n a p p e a l w ill be taken t o the
S ta te S u p rem e C ou rt. T h e p e n a lty Im posed a m o u n ts to $200 a d a y (the
ligh test u n d er the statu te) “ fro m the d a y the co m b in a tio n b e ca m e e ffe c tiv e ,
F e b . 24 1 9 0 8 .” — V . 90, p . 501. 375.
A ssessm en t

Davis-Daly Copper Co.—
.—The directors have
called 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.—R e c e i v e r s ’ C e r ti f i c a t e s .
—The United States Court is reported to have authorized
an issue of $050,000 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)—P r e f . S t o c k O f f e r e d . —Sub­
scriptions arc 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:
T h is issue is t o fu n d the floating d e b t, p r o v id e m ore w o rk in g ca p ita l,
refu n d a t m a tu r ity or In ad v a n ce the rem ain in g first M. b o n d s ($180,000
a fte r O ct. 1 1 9 1 0 , m atu rin g A pril 1911 to O ct. 1914, a reserve h a v in g been
m a d e fo r p rior m atu rities o f $ 5 0 ,0 0 0 ), a n d m ak e fu rth e r e x te n sio n s and
Im p rov em en ts. T h e fo llo w in g are n o w in co n s tr u c tio n : S teel, re in fo rce d
c o n c r o te h e a v y w areh ou se, 250 x 112 f t . , fo u r sto rie s an d basem en t; f o u n ­
d r y ex ten sion 360 x 80 ft .
F ate In 1909 an e x te n sio n (250 x 125 f t.) to
th e m ain m a ch in e-sh o p b u ild in g w as fin ish ed, c o m p le tin g a s h o p 600 ft .
in le n g th , w ith electric travelin g cranes a n d latest e q u ip m e n t.
N o p rior m ortg a g e or lien to the p re f. s to c k can be created w ith o u t w ritte n
co n s e n t o f tw o-th ird s o f the h olders. T h e net assets (w ith a c c o u n ts and
bills p a y a b le d ed u cte d ) shall a lw a ys be d o u b le the a m o u n t o f o u ts ta n d in g
p ref. s t o c k . T h e p re f. sto ck h o ld e rs u p o n re q u e st shall re ce iv e a y e a r ly
financial sta tem en t, co m p ile d b y a ch a rte re d a c c o u n ta n t.
O n liq u id a tio n
all pref. s to c k and a ccu m u la tio n s th ereon shall be p aid b e fo re p a r ticip a tio n
b y c o m m o n sto ck .
H al. Sheet after Sale of the $ 1 ,0 0 0 ,0 0 0 P r e f. S tk. based u p o n J a n . 1 ’ 10 E x h ib it.
Itcsourccs ($3,4 7 9 ,9 9 4 ) —
L ia b ilities ($ 3 ,4 7 9 ,9 9 4 ) —
R e a l estate a n d p la n t ____ $1,322,701 C o m m o n s t o c k ____________ $ 1 ,0 0 0 ,0 0 0
M aterial In process & m f d .
941,531 P referred s t o c k ___________ 1 , 0 0 0 , 0 0 0
C ash, bills & a c c ts . r e c ’l e .
955,961 C urrent w o r k ’g a c c ts . p a y .
82,142
A d d ition a l w o rk , c a p ita l
Serial b o n d s t o be r e t ir e d .
230 ,000
a n d reserve fo r retirin g
S u rp lu s, u n d iv id e d p rofits
a n d re s e r v e _____________ 1,167,852
b o n d s as t h e y m a t u r e . .
259 ,800
T h e a vera ge ann u al p rofit fo r the p ast six years, plus the sum p aid
a n n u a lly fo r Interest, a fte r liberal d e d u ctio n s fo r d e p r e c ia tio n , has been
m ore than $ 2 4 0,00 0 p er a n n u m , o r fo u r tim es the a m o u n t requ ired t o p a y
the d iv id e n d s .
Business w as establish ed In 1878 b y W a lla ce H . D o d g e ,
in c o r p o r a te d In 1880 u nd er laws o f In d ia n a , ca p ita l s to c k $50 ,0 0 0 , w h ich
In 1888 w as increased to $ 25 0,00 0, in 1897 to $50 0 ,0 0 0 , In 1903 to $ 1 ,0 0 0 ,­
000 . C on sid era b ly m ore th an $ 2 ,5 0 0 ,0 0 0 has been earn ed fo r the share­
h old ers: o f this m ore than $2,0 0 0 ,0 0 0 has been a d d e d to resources.
In 1882 M r. D od g e an d his associa tes In ven ted the w o o d sp lit pu lley, w ith
Interch an geable bushings. S o o n the D o d g e A m erican sy ste m o f rope trans­
m ission w as a d d e d .
T o -d a y the p ro d u cts Inclu de: W o o d an d iron split
p u lle y s , s h a ftin g , clu tch e s , co u p lin g s, sh eaves, flo o r s ta n d s, hangers and
bea rin gs, m a ch in ery an d e q u ip m e n t fo r r o llin g m ills, glass w o rk s , cem en t
p la n ts , c o t to n and w o o le n m ills, sugar m ills, Hour m ills an d grain and o th e r
e le v a to r s; w a te r-s o fte n in g and p u r ify in g ap p a ra tu s fo r steam an d industrial
p u rposes; m a ch in ery fo r h a n d lin g an d tra n sp o rtin g m aterials, an d e v e r y
b ra n ch o f fa c to r y eq u ip m e n t an d p o w e r d is trib u tio n . O ccu p ies w ith Its
fa ctories a b o u t 19 acres o f floor space; e m p lo y s m ore than 1,200 o p e ra ­
tiv e s.
A n nual business m ore than $ 2 ,0 0 0 ,0 0 0 .
M . W . M ix Is P residen t.

Dominion Steel Corporation.—L e a s e .—A three-years’
lease of the Cumberland Railway & Coal Co.’s coal mining
areas in the vicinity of Clace 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:
T h e p r o p e r ty In qu e stio n Is a d e ta c h e d area a d jo in in g the coa l lan ds
ow n ed b y the D om in ion Interests, and Is en tire ly d is tin c t fro m the S p rln g hlll h oldin gs o f the C u m berland R y . & C oal C o .— V . 91, p . 41.

97

Three
Total
In l.o n B d s. S . F . & E x - D ep recia B a lan ce,
M o n th s—
In com e.
& N otes, hau stion.
tio n ,& c.
S u rp . or D ef.
1910 .................. $ 2,011,002
$43 7,50 0 $10 1,40 2 $364,064 s u r .$ l ,108,036
1909 __________
667,323
406 ,8 7 5
90,816
282 ,538 d e f.
112 ,906
S ix M o n th s—
1910
----- $ 3 ,427,093
$833,333 $19 1,61 4 $708,166 s u r .$ l ,693,980
1909 _________
926,454
792 ,500
141,223
483 ,359 d e f.
4 90 ,628
T h e unfilled orders o n Ju n e 30 1910 w ere 3 79 ,836 gross to n s , a g a in st
38 4 ,9 4 in 1 90 9.— V . 90, p. 1617, 985 .

Lake Superior Corporation.—G u a r a n te e d

B o n d s —E a r n i n g s ,
.—See Algoma Central & Hudson Bay Ry. under “ Rail­
roads” above.—V. 90, p. 1299.
&c

Lake Superior Iron & Chemical Co, (of New York).—

—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:
S ta tu s o f N e w C o m p a n y .

P apers h a v e ju s t been signed w hich tran sfer th e p r o p e r ty o f th e L a k e
S u p erior Iro n & C hem ical C o. to a new c o m p a n y o f th e sam e n am e In cor­
p o ra te d u n d er the laws o f N ew Y o r k .
In a d d itio n to 6 c h a rco a l p lg -fr o n
furn aces and certa in ch em ical plan ts, th e new c o m p a n y acqu ires 35 m iles
o f ra ilw a y an d e q u ip m e n t and leases the v a lu a b le Y a le m in e w ith 5 7 0 ,0 0 0
ton s o f ore b lo ck e d o u t, also th e se m l-d e v e lo p e d T y le rs F ork m in e, b o th
lo ca te d on th e G o g e b ic Iron R a n g e , M ich. T h e p r o p e r tie s * h a v e been
app ra ised a t 5 5 ,8 8 3 ,9 0 3 , v iz .: fu rn aces, $ 1 ,3 1 3 ,7 2 8 ; ch em ica l plan ts,
$61 9 ,1 8 6 ; Y a le m ine (p rofit In o re p resen tly b lo ck e d o u t ), $ 8 2 5 ,8 3 0 ;
w o o d la n d s ow n e d In fe e , $ 2 ,6 6 2 ,5 2 9 ; stu m p a g e co n tr a c ts , a d v a n c e p a y ­
m en ts, .$145,680; railw ays, $17 1,53 8; lu m b e r c a m p s, $ 1 4 5 ,4 1 2 .
T o th e
a foresa id v a lu e -o f p roperties, $ 5 ,8 8 3 ,9 0 3 , a d d cash set aside fo r re -m o d e lln g
ch e m ica l plan ts, $1,0 0 0 ,0 0 0 ; w o rk in g c a p ita l (ca s h ), $ 1 ,6 7 5 ,0 0 0 ; to ta l
assets, cash , A c ., .$8,558,903.
T h e ca p ita l s to c k o f th e new c o m p a n y Is $ 1 ,6 2 5 ,0 0 0 7 % c u m . p re f. s to c k
(c o n v e r tib le Into c o m m o n at par) an d $ 8 ,3 7 5 ,0 0 0 c o m m o n s to c k .
A n Issue o f $ 1 0 ,0 0 0 ,0 0 0 b o n d s has been a u th o riz e d , o f w hich 5 3 ,5 0 0 ,0 0 0
are reserved f o r fu tu re acqu isition s; $ 6 ,5 0 0 ,0 0 0 sin k in g fu n d 6 % b o n d s a re
Issuable at tills tim e as fo llo w s: S to ck h o ld e rs o f the o ld c o . to re ce ive $ 1 ,5 0 0 ,­
000, fo re ig n m arkets to disp ose o f $ 3 ,0 0 0 ,0 0 0 an d $ 2 ,0 0 0 ,0 0 0 to go to N . Y .
T h e present properties com p rise Iron fu rn aces an d ch em ica l p lan ts a t
A sh la n d , W ls .; M anlstlqu e. N ew berry and E lk R a p id s , M ich .; Iron fu rn aces
a t B o y n e C ity and C h o co la y , M ich .; th e Y a le Iron ore m in e a t B essem er,
M ich .; the T y le r F orks Iron m in e at P lu m m er, W ls.; an d 170,000 acres o f
tim b e r land [an other a c c o u n t says th a t th e h a rd -w o o d s u p p ly c o v e r s
3 01 ,709 acres] in both W isco n sin an d M ich igan . T h e m a n u fa ctu re o f
ch a rco a l b y the kiln m e th o d s bein g o b s o le te because o f the w aste o f th e
b y -p r o d u c ts (w o o d a lc o h o l, a ce ta te o f lim e, & c .), $ 1 ,0 0 0 ,0 0 0 In cash Is
set aside to rebu ild these plan ts an d t o build a new p la n t a t C h o co la y .
A fte r the e x p e n d itu re o f this $ 1 ,0 0 0 ,0 0 0 , It Is e stim ated th a t the Incom e
w ill be: 198,000 ton s o f ch a rco a l pig Iron a t $3 50 p ro fit per to n , $ 6 9 3 ,0 0 0 ;
3 .4 2 0 .0 0 0 gals, o f w o o d a lc o h o l a t 23c. per g a l., n et at plan ts, 5 7 8 6 ,6 0 0 ;
6 1 .5 6 0 .0 0 0 lbs. o f a ce ta te o f lim e a t 1.6 c. per lb ., net a t p lants, $ 9 4 8 ,9 6 0 ;
to ta l, 5 2 ,4 2 8 ,5 6 0 .
H a v in g m ade a llow a n ce fo r p ossib le s h u t-d o w n s, & c .,
th e to ta l net earnings b efore d e p re cia tio n an d Interest arc e stim a ted at
$1 ,3 8 3 ,4 2 0 .
T h e co m b in e d net earnings (b e fo re in terest an d de p re cia tio n ) o f th e
p rop erties a cq u ire d . Inclu din g A sh lan d Iro n & Steel C o ., M anlstlqu e Iron
C o ., Burrell C h em ical C o ., M ichigan Iron C o ., L t d ., an d S u p erior C h em ical
C o ., fo r th e period fro m Ja n . 1 1905 to J a n . 31 1910 are r e p o r te d b y certified
a c c o u n ta n ts as $ 2 ,4 5 8 ,2 1 3 , o r $48 3,58 2 per a n n u m .
In th e m an u factu re and g ra d in g o f th e Iron It Is plan n ed t o g iv e especial
a tte n tio n to the requ irem en ts o f m akers o f a u to m o b ile s , c y lin d ers, car
w h eels, en gin es, & c.. and to be p repared fro m th e v a riou s fu rn aces to s u p p ly
a u n iform m etal o f su perior m erit fo r each p u rp o se .
T h e board com prises: P residen t J o h n J o y c e , o f B o s to n , d ir e cto r In
Sh a w ln lgan W a te r & P ow er C o .; F . M . H a rriso n , P res, o f U . S . In d u stria l
A lc o h o l C o .. N . Y .; W . H . M athew s, G en . M gr. B o y n e C ity C h em ical C o .,
B o y n e C ity, M ich .; T h o m a s M cD o u g a ll, V ice -P re s. S haw lnlgan W a te r &
P o w e r Co , Q u ebec; H o n . W illia m G . S h a rp , E lyria , O .; F ran k W . B lair,
Pres. U nion T rust C o .. D e tro it; II. H . M evllle, V ice -P re s. C a nadian
N orth ern R y ., B o s to n ; G eorge II. R ussell, P res. P e o p le ’s S ta te B a n k .
D e tro it; H on . W illia m A . C h arlton , T o r o n t o , O n t .; M . C och ran A rm o u r,
C h ica g o , 111., partn er R o g e rs, B row n & C o . T h e c o m p a n y ’s o ffic e w ill be
In D e tro it, as h e r e to fo r e .
R o g e rs, B row n & C o. h a ve been a p p o in te d sole a gen ts fo r th e sale o f all
th e new c o m p a n y ’s p ig Iron o u t p u t .
C om pa re V . 87, p . 1608.— V . 91, p . 4 1 .
Linn & Lane Timber Co. (operating in Oregon), B o n d s

—
—A. G. Edwards & Sons, St. Louis and N. Y., are
offering at par and int. 1st M. 6% gold bonds, part of SI
500.000 dated June G 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. II. 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:
O ffe r e d .

A 1st M. on (a) a p p ro x im a te ly 70,000 acres o f virgin tim b e r lands In
L in n , L a n e, C o o s, C u rry , D ou gla s an d L in coln c o u n t ie s ,W e s t e r n O regon ;
(b) lu m b e r m a n u fa ctu rin g p la n t, v alu ed at $20 0 ,0 0 0 . T h e tim b e r , ch iefly
fir, is e stim a te d a t 4 ,3 5 1 ,4 5 0 ,0 0 0 feet an d v a lu e d a t $1 p er 1,000 f t . , or
$ 4 ,3 5 1 ,0 0 0 ; b o n d e d d e b t o n ly 34 Y cen ts p er 1,000 f t . , o r $ 1 ,5 0 0 ,0 0 0 .
T h e Charles A . S m ith L u m b er & M fg. C o. has c o n tr a c te d until 1935 (th e
last b o n d m atures in 1927) t o c u t , o r p a y to r W ith out cu ttin g , 3 0 ,0 0 0 ,0 0 0 f t .
o f tim b e r p er ye a r a t the m in im u m rate o f $6 p er 1,000 f t . fo r ce d a r a n d $3
per 1,000 ft. fo r fir. S in k in g fu n d (p rio r t o cu ttin g o f tim ber) $2 50 per
1.000
f t . , will retire the en tire In debtedness w hen o n e -se v e n th o f the tim b er
has been c u t.
Mr. Charles A. S m ith an d his allied co m p a n ie s are a m o n g the
largest tim b e r ow n ers an d lu m b e r m an u factu rers In the U n ited S tates: his
net w orth Is rep o rte d as m a n y tim es the a m o u n t o f this Issue.
Louisville (Ky.) Lighting Co. M e r g e r P l a n

Fort Worth (Texas) Gas Co.— S u c c e s s o r C o m p a n y — S to c k
.—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 $800,000, all of
one class and all outstanding. Bonded debt, if any, not
stated.
—
.—On July 5
Houghton County (Mich.) Gas & Coke Co.—E a r n i n g s .— two 20-ycar franchise ordinances were introduced in the
McCoy & Co. of Chicago, who are offering a block of 5% Lower House of the Louisville General Council by Dr. Charles
bonds, report earnings for the year ending April 30:
Russman, with.a view, the “ Louisville Courier Journal”
F isca l
Gross
Operating
N et
B on d
B a lan ce,
says, to merging the Kentucky Electric Co. (V. 90, p. 562),
Y ear—
lea rn ings. E x p en ses.
E a rn in g s.
Interest.
S u rp lu s.
the Louisville Gas Co. (Y. 90, p. 55), the Louisville Lighting
1909-10 _____ . .$ 5 9 ,8 4 7
$37,516
$22,331
$10,000
$12,331
1908-09 ......... ..
. !)3,172
33,895
19,277
.............
.............
Co. (V. 79, p. 2799; V. 84, p. 1252; V. 90, p. 306) and
— V . 82, p . 808.
Louisville Heating Co. (V. 76, p. 657).—V. 90, p. 376.
International Agricultural Corporation, N. Y .— P o ta s h theLouisville
(Ky.) Water Co.— B o n d s D u e A u g . 1— O p t i o n .
S i t u a t i o n .—A press dispatch from Berlin on July 5 said:
—The $500,000 5 % bonds of the issue of 1890, due Aug. 1
T h e B u n desrath con sid ered to -d a y the A m erica n S tate D e p a rtm e n t’s
1910, can be exchanged for the company's new issue of 4%
p rotest again st the G erm an P a rliam en t’s p ota sh sy n d ica te la w .
It a u ­
th orized the C h an cellor to n egotiate an agreem en t w ith th e A m erica n
( n o t 5%) bonds, dated May 5 1910, upon presentation at the
G ov ern m en t on the basis o f recog n izin g the A m erican co n tra cts to 1912,
office of the Sinking Fund Commission of Louisville or at the
b u t not op tion s ex te n d in g the co n tra cts to 1917. T h e C h an cellor tra n s­
m itte d a rep ly In th at sense to the A m erica n G ov ern m en t o n S a tu rd a y .
office of the company, 439 S. Third St., Louisville.—
T h e p osition o f the S tate D ep a rtm en t tow a rd s G erm an y app ears to have
V. 90, p. 1428.
been v ery firm . C om pa re V . 91, p. 41; V. 90, p. 1557, 630.
Maryland Coal Co., New York.—N e w T r e a s u r e r . —J. W.
Kentucky Electric Co., Louisville, Ky.—E a r n i n g s .—The
bond department of the United States Trust Co., Louisville, Galloway has been elected Treasurer to succeed William H.
which is offering at 95 and int. 1st M. 5% gold bonds dated Van Kleeck, resigned. Compare V. 90, p. 377, 506.
Mexican National Packing Co.—R e o r g a n iz a ti o n P l a n .—It
Oct. 1 1909 (auth., $1,500,000; outstanding, $400,000),
is proposed to reorganize this enterprise as an English com­
reports:
Year en d in g—
G ross.
N et.
Interest. B a l.,S u r.
pany, incorporated under the English Companies’ Acts, the
M ay 31 1910
$158,443
$70 ,498
$7,776
$62,722
new company to be managed by the Packing House Devel­
D e c. 31 1909
132,317
54,294
5,276
49,018
opment Co., Ltd., which is controlled and managed by
See L ou isville L ig h tin g C o. b elow , also V . 90, p . 562.
Lackawanna Steel Co.—R e s u l t s .—The combined earnings Messrs. Van den Berghs, with W. & J. Biggerstaff and
of the company and subsidiaries for the 3 and 0 months Poels & Brewster, whose expert estimates that under their
control, and with new capital, the English company will
ending June 30 1910 were:
In c rea se




98

THE CHRONICLE

[VOL. L X X X X I.

he M ines C o. o f A m erica an d th e El R a y o are p a y in g d iv id e n d s o f 1 2 %
realize the following profits: 1st year, £125,000; 2nd year, p er[Tan
n u m . T h e D olores C o. begin n in g N o v e m b e r last Increased its an n u a
£175,000; 3d year, £200,000; 4th year, £250,000.
d iv id e n d rate fro m 12% t o 1 8 % .— E d .)
The plan, which has the full approval of John W. De Kay
Minneapolis General Electric Co.—O n 7 % B a s i s . —A quar­
of the Mex. Nat. Packing Co., provides in substance:
terly dividend of 1 % % has been declared on the $2,500,000
A u th orized Capitalization o f N ew C o m p a n y .
common stock, payable Aug. 1 to holders of record July 15,
P a rtic ip a tin g 6 % cu m u la tiv e p referen ce shares o f £1 e a c h _______ £1,700,000
comparing with lj^% quarterly (6% yearly) from Nov.
O rd in a ry shares o f £1 e a c h _________________________________________
750,000
T h e preferen ce shares to be preferential as to c a p ita l, a n d , a fte r
1909 to May 1910 and 2% semi-annually (4% yearly) from
p a y m e n t o f a n on -cu m u la tlv e d iv id e n d o f 6 % o n th e o r d i­
1906 to Aug. 1909.—V. 95, p. 1175.
n a ry shares, to be en titled In a d d itio n to their 6 % cu m u la ­
t iv e d iv id en d to ranlt pari passu w ith th e o rd in a ry shares In
Nashua Mfg. Co.—N o t e s . —Curtis & Sanger and Blake
resp ect to rem ain ing profits.
Bros. & Co. are placing $1,000,000 5% one-year notes on a
S e c o n d m tg e. in com e d eben tu re s to c k bearin g c u m u la tiv e Inter­
est a t the rate o f 6 % per a n n u m , and secu red as to c a p ita l an d
5% basis. The notes will probably be dated Monday next
Interest on the w h ole u n d erta k in g. Inclu din g th e rastro In the
and be in large denominations—$25,000 and upwards. Capi­
C ity o f M exico and the con cession s c o n n e c te d th e re w ith , a fte r
th e 1st M. bond s and b efore the preferen ce shares, bu t w ith
tal stock, $1,000,000; par, $500.—Y. S5, p. 1465.

n o rig h t o f foreclosu re fo r th e first live years. T o ta l Issue------300 ,000
F irst m tge. 5 % b on d s, red eem able In 20 years, a n d secu red b y a
first charge u p on the w h ole o f th e u n d e rta k in g . A rran g em en ts
h a v e been m ade for the Issuance o f n o t e x c e e d in g £600,000
b on d s, at a price to net the new c o m p a n y 8 0 % , In o rd e r to p ro­
v id e w ork in g capital an d to m eet the c o s t o f th e re o rga n iza ­
tio n . T h e rem ain in g £400,000 c a n n o t be Issued e x c e p t w ith
the con sen t o f the new c o m p a n y In general m eetin g . T o t a l . _ £1,000,000
A ll d eben tu re and bon d h olders w h o assent to the plan w ill, at the tim e
o f e x ch a n g e, be paid In cash th e Interest o n the d eb en tu res a n d b o n d s held
b y th em up to th e d a te w h en th e secrultles o f the new c o m p a n y are re a d y
fo r such ex ch a n g e.
Term s o ) E xcha nge OJfered A ssen tin g H older.
------------T o B e E xchanged Jor----------- -------E a ch £ 1 0 0 o /—
2nd M . D eb . PreJ.S hares. Com .Shares.
£60
£40
--------------R a s tro d e b e n t u r e s ____________________
6 % g old b o n d s ________________________
____
£20
--------------P referred o r o rd in a ry sh ares_________
____
.
£2 10s.
H olders w ishing to p a rticip a te In the re o rg a n iza tio n sh o u ld d e p o sit th eir
securities on o r b efore J u ly 30 1910 w ith G ly n , M ills, Currie & C o ., 67 L o m ­
bard S t ., L o n d o n , E . C .— V . 90, p . 377.

Michigan Stove Co., Detroit.— P r e f e r r e d S t o c k .—The com­
pany has increased its 7% cum. pref. stock from SI,500,000
to SI,600,000 and will allow its employees to subscribe for
the new shares. There is also SI,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. Incorporated in Michigan Dec. 16 1871; re­
incorporated Dec. 16 1901. Pres., Jeremiah Dwyer; George
H. Barbour, Vice-Pres. & Gen. Mgr.; C. A. du Charme, 2d
Vice-Pres. & Sec.; Treas., E. S. Barbour.—V. 74, p. 155.
Miller & Vidor Lumber Co., Galveston, Tex.—B o n d s
O f f e r e d .—Clark L. Poole & Co., Chicago, are placing at par
and int. $375,000 1st M. gold 6s, dated April 1 1910; par
$1,000 and $500 (c*), payable in series each six months as
follows: Oct. 1 1910 to April 1 1914, $12,500 semi-annually;
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
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.
Condensed Extracts from Hankers’ Circular.
A first Ucn o n (1) a b o u t 34,400 acres, ly in g In a s o lid b o d y , o f u n cu t tim ­
ber lan ds, lo ca te d In Ila rd ln , Jasper, O range an d Jeirerson c o u n tie s , T e x a s,
h e a v ily tim bered w ith lon g an d sh ort leaf y e llo w pine; also cy p r e s s , o a k
an d oth er h a rd w ood s; (2) m o d e rn saw m ill, 8 0 ,0 0 0 feet d a lly c a p a c it y ,
p lan in g m ill, 200 ,000 feet d a lly c a p a c it y , brick d r y kilns, m a ch in e sh o p ,
electric ligh t, w a ter-w ork s s y s te m , lu m ber sheds, & c., lo ca te d a t tid ew ater
In B e a u m on t, T e x ., o n N ech es R ive r: (3) entire 510 0,00 0 c a p ita l s to c k (e x ­
c e p t $700 d ir e cto r s ’ shares) o f the G a lveston B e a u m o n t & N orth ea stern
R y ., an u n b on d ed r oa d , 20 m iles lo n g, c o n n e c tin g w ith the S ou th ern P a cific,
F ris co, S an ta F c . K ansas C ity S ou th ern an d G ulf & In te r-S ta te R y s .,
an d h a v in g three lo co m o tiv e s an d 50 cars.
T h e D arlin gton & M iller L u m b e r C o ., o rg . a b o u t 1889, B e a u m o n t Saw
Mill C o ., O range Saw Mill C o ., M iller & V id o r Saw Mill C o. an d P ea ch R iver
L u m b e r C o ., all ow n ed b y p ra ctica lly the sam e interests, w ere du rin g the
past y ear co n s o lid a te d Into the M iller & V id o r L u m b e r C o ., pa id -in cap ital
$ 1 ,5 0 0 ,0 0 0 . T h e n ew co n s o lid a te d c o m p a n y Is on e o f the largest ow ners
o f s ta n d in g tim b er In T e x a s , an d op e ra te s fo u r large m o d e rn saw m ills,
lo ca te d at B ea u m on t, O ra n ge, M tlvld an d T im b e r, all In T e x a s .
D irectors:
C. II. M oore (C h a irm a n ), A . VV. M iller (P resid ent) an d C. S . V id o r ( V .- P .) ,
G a lv eston , T e x .; J. G . B erryhlll ( V .- P .) , Des M oin es, la ;. W . S. Slagle,
A lt o n , l a .; K llb u r n M oore, B ig Creek, T e x .; S. A . L in c o ln , A lt o n , la . T h e
S c c .-T r e a s . Is B . L . S pa rk s, G alveston .
Value o j P rop erty Covered by T h is B on d Issu e, E stim ated at $ 1 ,0 9 2 ,0 1 0 .
P in e tim b er, 133 ,502 ,00 0 feet at $5 per 1 , 0 0 0 . . _ .......................... _ _ .$ 6 6 7 , 510
C ypress an d h a rd w o o d tim b er, 5 5 ,4 0 0 ,0 0 0 ft. a t a v e ra g e o f $2 50
per 1,000, $ 13 8,50 0; saw m ill a t B ea u m on t, $15 0 ,0 0 0 ; 34,400
acres o f la n d , $ 86 ,000 ; railroad , $ 5 0 ,0 0 0 _________________________ 280 ,000
T h is b on d Issue Is fo r liq u id a tin g tioatlng d e b t . A u th o riz e d Issue, $ 4 0 0 ,­
000; present Issue, $ 3 7 5 ,0 0 0 . R e d e m p tio n sin k in g fu n d $3 50 per 1,000
fe e t fo r all tim b er cu t.

Mines Co. of America, New York.—P l a n A d o p t e d .—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, II. S.
Black and W. E. Reis and by J. D. Tooker, Secretary, says
in brief under date of June 18:
Y o u r d irectors have u n a n im o u sly v o t e d to r e co m m e n d the Increase of
the c a p ita l s to c k In o rd e r to a cq u ire all o r the g reater part o f the sto ck s
o f the D olores M ines C o. an d El R a y o M ines C o.
It Is p ro p o se d to Issue
$10 o f new s to c k fo r each share o f D olores M ines C o. an d $7 o f new s to c k
fo r ea ch share o f El R a y o M ines C o. T h e D olores M ine Is situ ated In the
D istrict o f G u errero, th e prop e rtie s o f El R a y o M ines C o. near San ta B ar­
ba ra , all In the S tate o f C h ihu ahua, M e x ico . T h e Issued ca p ita l o f D olores
Is 400 ,0 0 0 shares o f $5 each ; o f El R a y o 3 5 7 ,0 2 0 shares o f $2 e a ch .
B oth
c om p a n ies are free o f d e b t , fu lly e q u ip p e d w ith su fficie n t m ills and a p p li­
a n ces fo r m in in g an d m illin g th eir ores anil possess am p le w o rk in g ca p ita l.
B o th m ines h ave lon g since passed the e x p e rim e n ta l stage an d arc In large
p r o d u c tio n .
All the large exp en ses o f d e v e lo p m e n t have been paid ou t
o f p rofits. T h o se co m p a r a tiv e ly sm all p o rtio n s d e v e lo p e d are p ro d u cin g
large p rofits; each possesses a large area o f virgin g ro u n d w h ich , w hile n o t
y e t e x p lo r e d . Is c o n fid e n tly be lie v e d to be o f e x c e e d in g ly great valu e.
O f the p ro p o s e d Increased ca p ita l, a p p ro x im a te ly $50 0,00 0 Is to be held
unissued u n til requ ired fo r a d d itio n a l p r o p e r ty o r o th e r co rp o ra te pu rposes.
All sh areholders are requ ested t o w a iv e a n y rig h t to su bscrib e fo r a n y o f
the new shares a u th o riz e d at the m eetin g .
It w ill be p r a c tic a lly necessary
t o ch an ge the p a r v alu e o f the shares fro m $1 t o $10 a share, In ord e r to
m in im ize the e x p en s e, clerical w ork an d d elays.
R eport o f C onsulting E n g in eer G eo. A . Schroter, N ew Y o rk , J u n e 10 1910.
N et E a rn in g s—
Bast 6 M o s .
Last 12 M o s .
D o l o r e s .......... ....................................................
. .. $ 2 0 7 , 0 3 9
$462,152
El R a y o ______________________ ______________________ 151,047
246,783
B oth p rop erties are In a g o o d state o f e ffic ie n cy a n d b o th have large ore
b od ies In sig h t, as w ell as large b odies o f p ro b a b le ore .
E a ch c o m p a n y
has a large area o f g rou n d n ot y e t e x p lo r e d In w h ich I c o n fid e n tly believ e
th a t fu rth er e q u a lly va lu a b le ore b odies w ill be d e v e lo p e d .
M y fa m ilia rity
w ith these p rop erties leads me to b eliev e not o n ly th a t th eir present rate
o f earn in gs w ill be m ain ta in ed , bu t also th at there Is e v e r y p ro sp e ct that
th e y can be increa sed.
I believ e th at b o th properties have b efore th e m a
brillia n t fu tu re.
N . Y . o ffic e . 111 B ro a d w a y .




National Starch Co., New York.— N e w

S e c u r itie s R e a d y .—

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.— R e c e i v e r s h i p

—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, p. 472,603.
Northwestern Ohio Natural Gas Co.— E x c h a n g e o f S t o c k .—
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.
T h e S ta n d a rd OH C o. has lo n g c o n tro lle d the N o rth w e ste rn , an d In re ce n t
m o n th s, It Is su p p o s e d , has o b ta in e d a large, If not a m a jo r it y , Interest In
the O h io Fu el S u p p ly C o.
(C om pare U n ited F u el S u p p ly C o ., a su b sid ia ry
o f the O h io Fuel S u p p ly C o ., In V . 90, p. 853 .)

Oregon (111.) Power Co.— B o n d s O f f e r e d . —Mabee, Tibbetts
Co., Now York, Williamsport, Pa., and Chicago, are offering
at prices to net 5%% income the unsold portion of $185,000
first mortgage 6% gold bonds, dated July 1 1909. Author­
ized issue, $300,000; in escrow, $115,000; outstanding,
$185,000. See V. 89, p. 1415.
Stearns (Ky.) Coal & Lumber Co.— B o n d s O f f e r e d . —Pea­
body, Houghteling & Co., Chicago, are placing at par and
int. $1,500,000 1st M. 6% serial gold bonds, dated July 1
1910; due in semi-annual series from July 1 1911 to
July 1 1922 (first 3 $50,000; then 10 of $60,000 and finally
10 of $75,000), but redeemable in reverse of numerical order
on interest dates at 103 and int. Par $1,000 and $500 (c*).
Prin. and semi-ann. int. payable at First Nat. Bank, Chicago,
and First Nat. Bank, N. Y. First Trust & Savings Bank,
Chicago, trustee. A circular says in brief:
T h ese b o n d s are gu aran teed b o th as to p rln . an d Int. b y en d o rse m e n t
o n ea ch b o n d o f Justus S . Stearn s, P resident o f the c o m p a n y , w h ose net
w o rth In re alizab le assets, ou tsid e o f this c o m p a n y , is a p p ro x im a te ly $ 2 ,­
500 ,0 0 0 , an d th e y are an a b so lu te 1st m tg e . u p o n all p r o p e r ty now ow n e d
o r hereafter a cq u ire d b y th e c o m p a n y , an d a ls o , th rou gh d e p o sit w ith the
trustee o f Its en tire Issued c a p ita l s t o c k an d to ta l closed Issue o f 1st M .
b o n d s, u p o n all the p r o p e r ty n o w an d h ereafter ow n ed b y th e K e n tu c k y &
T en n essee R y . C o.
D isp o sitio n o f Bonds — Total A u th orized Issu e, $ 2 ,0 0 0 ,0 0 0 .
N o w Issued to retire all In debtedn ess, e x te n d railw ay, Increase
saw -m ill and coa l m ine e q u ip m e n t an d fu rn ish w ork in g c a p i t a l.$1,5 0 0 ,0 0 0
R e s e r v e d ,s u b je c t to w ritten a p p ro v a l o f P e a b o d y , H o u gh te lin g
& C o ., fo r fu tu re exte n sio n s an d Im p r o v e m e n ts ,;m d f o r a c q u i­
s itio n o f a d d itio n a l tim b e r an d o th e r properties at not to ex ce e d
5 0 % o f a ctu a l cash co st and fo r the c o n s tru ctio n o f a d d itio n a l
ra ilw a y at n o t to e x ce e d 7 5 % o f the a ctu a l cash co st o f m ain
line fu lly e q u ip p e d (b o n d s so reserved s h a ll,,if Issued, m ature
500 ,000
$10 0,00 0 e v e r y six m o n th s , b egin n in g Ja n . 1 1 92 3)____________
V aluation o f S ecu rity, $7,5 0 9 ,2 4 2 (B ased upon E x p ert R ep o rts).
L a nd a n d tim b e r o w n ed In fee (67,981 acres o f la n d , 18,000 acres
o f tim b e r, these 85,981 acres co n ta in in g 400 m illion fe e t o f o a k ,
pine an d o th e r t im b e r )____________ ____________________________ ..$ 3 ,0 1 3 ,1 9 7
Coal ow n e d In fee (300 m illio n ton s o n said 67,981 acres; also
ow n s 22,000 acres o f co a l rights, Inch 1,300 acres o f s u r fa c e ). . 3 ,0 0 0 ,0 0 0
K e n tu c k y & Ten nessee R y . (n o w 12 m iles in len gth , to be e x te n d e d
5 m iles, m akin g 17-m llc line fro m S tearns on the Q u een &
C rescent system Into the coal an d lu m ber t r a c t ) ---------------------640,143
C oal m ines (5 m odern m ines, d a lly c a p a c ity n ow 1,500 to n s , to
be Increased at on ce to 2,000 t o n s )_______. . . . . -----------------------218 ,500
S aw m ill an d e q u ip m e n t a t Stearns (d a lly c a p a c ity 75,0 0 0 f t.
w ith to w n site 509 acres, 143 hou ses, & c . ) ----------------------------------387,402
W o r k in g c a p it a l_________________ __________ __________________________
250 ,0 0 0
Bankers' E stim ate o f A verage A n n u a l N et E a rn ings ($ 2 7 5 ,0 0 0 ), A fte r C om ­
pletion o f A d d ition s to Saw M ill, Coal M in es and R a ilw a y,to be
Im m ediately P rovided from Proceeds o f these Bonds.
L u m b er d e p a rtm e n t_____ .$ 100,0001 K e n tu c k y & T en nessee R y ..$ 3 5 ,0 0 0
C oal d ep a rtm en t .
.
.
1 0 0 , 0 0 0 (C o m m issa ry , rents, & c -------- 4 0 ,000
T h ese net earnings ($275,000) are a fte r d e d u ctin g $145,000 fo r sin k in g
fu n d (lu m b e r, $12 0,00 0; co a l, $ 2 5 ,0 0 0 ), an d are based on a n a v e ra g e annual
o u tp u t o f 2 0 ,0 0 0 ,0 0 0 fe e t o f lu m ber an d 500 ,000 tons o f c o a l. T h e m tg e .
p ro v id e s a sin k in g fu n d o f 5 cents per to n on all coal r e m o v e d , and also a
sin k in g fu n d on all tim b e r u nd er a sch edu le (p er 1,000 f t . ) , w h ich fo r w h ite
oa k is $8; red o a k , $5: p o p la r, $15; ch e stn u t, $2; y e llo w pin e, $3; w hite pin e,
$7: h e m lo ck , $3; h ick o ry , $5.
T h e 67,981 acres ow n ed lie In p ra ctica lly a solid b o d y In W a y n e C o u n ty ,
K y ., and In P ic k e tt, S c o tt a n d Fentress co u n tie s, T e n n ., bein g bo u n d e d on
the east b y the B ig S ou th F o r k o f the C u m berland R iv e r ,and all ava ila b le
to the Q ueen & Crescent R y . T h is p r o p e r ty an d the a d jo in in g 18,000
a cre s, o n w h ich the c o m p a n y ow ns the tim b e r o n ly , a rc e stim a te d t o c o n ­
tain (In m illio n fe e t ): W h ite o a k , 126.7; red o a k , 3 4 .7 ; p o p la r, 4 5 .5 ;
ch estn u t, 4 1 .7 ; ye llo w pin e, 2 1 .8 ; w hite pin e, 56.2; h e m lo ck , 4 2 .2 ; h ic k o r y ,
6.6 ; b eech , 15.8; ash, 1: also 2 77 ,625 railro a d ties; 80,380 teleg ra ph
poles; h e m lo ck b a rk , 19,790 co rd s; oa k b a rk , 18,600 cord s; o th e r fo re s t
p r o d u c ts , 276,010 c o rd s . 'Flits en tire tra ct Is u n d erlaid w ith som e 3 0 0 ,­
0 00,000 tons o f steam coal o f e x ce lle n t q u a lity , the m ain vein a vera gin g
48 to 50 Inches in thick ness. T h e en tire p ro d u ctio n Is n ow bein g p r o m p tly
a b so rb e d a t prices n ettin g SI 1 0 to $ l 35 per to n , f .o .b . cars a t m in e. T h e
Q ueen & C rescent R R . alon e purchases o v e r 200,000 tons o f the coa l per
an n u m a t $1 3 5 per ton run o f m in e. T h e c o s t (e n tire ly d rift m ining)
sh ou ld n ot e x c e e d 80 cts. a to n .
Union Gas & Electric Co., Cincinnati.— C a s h D i v i d e n d s

R e s u m e d o n P r e fe r r e d S t o c k . —A cash dividend of 6% was
paid June 28 on the $5,000,000 6% cumulative pref. stock.
Th e last d iv id e n d paid w as 7 lA % In 6 % Interest-bearing scrip , m atu rin g
on o r before J u ly 1 1914, c o v e r in g the 15 m o n th s fro m A pril 1 1908 t o
J u ly 1 1909. C o m p a re -V . 89, p. 230.

J u l y 9 1 9 1 0 .]

THE CHRONICLE

Union Bag & Paper Co., New York.— “ S t a m p e d

B onds

Treas. E. S. Coleman, in reply to our inquiry, writes:

."—

T h e to ta l 1st M . b o n d s Issued Is $ 1 ,2 0 1 ,0 0 0 . T h e a m o u n t Issued p r io r
t o the ta k in g elTect ot the new m o rtg a g e ta x law w as $.2,000,000, N os. 1 to
.2,600.
All b on d s bearin g a higher nu m ber th an this are s ta m p e d an d are
free fro m an n u al taxes In the S tate ot N ew Y o r k . T h e fo llo w in g Is sta m p e d
o n th e b o n d : “ I, G eorge II. W e st, C lerk o f the C o u n ty o f S a ra toga , p u r­
su a n t t o C h apter 340 o f th e Law s o f 1907, d o h e r e b y c e r tify th a t the ta x
u p o n th a t p o rtio n o f th e p rin cipa l In debtedness se cu re d b y the m o rtg a ge
d escrib ed In the w ith in b o n d , w h ich is rep resen ted b y said b o n d , has been
p a i d ."
[T he law requires th e p a y m e n t o f a r e c o r d in g t a x o f }$ % a t tim e
o f issu e.— E d .]— V . 00, p . 1100, 912.

99

The (Dowmrma! Times.
COMMERCIAL EPITOME.

F r i d a y N i g h t , J u l y 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
Virginia-Carolina Chemical Co.— D i v i d e n d I n c r e a s e d . —An
annual dividend of 5% has been declared on the $27,984,400 have had a tendency to restrict trade in some directions.
common stock, payable in quarterly installments of 1M%
Stocks o f M ercha ndise in N ew Y ork.
J u ly 1
June 1
J u ly 1
each on Aug. 15 and Nov. 15 1910 and Feb. and May 15
1910.
1910.
1909.
1911, to holders of record on the 5th days of those months,
ColTce, B razil _ _ .......... ................
2,6 1 7 ,1 3 3 2,8 5 0 ,6 1 7 3 ,1 1 4 ,4 8 0
comparing with 3% paid Aug. 1909 out of the earnings of ColTce,
Java
39,376
32,540
39,029
the previous year.
C offee, o th e r
339 ,786
406 ,528
313,350
1896.
1

P reviou s D ividend R ecord (P e r C ent) o ] C om m on Stock.
1897 to M c h . 1902, in cl. J u n e 1902 to J u n e 1903. 1904-08.
1909.
4 y e a r ly .
5
LN o n o . A u g ., 3

—For the year ending May 31:

E a rn in g s.
Fiscal
Total
Repairs & Ini. <fc P ref.D ivs.
Common
Balance,
Year—
Net Profits. M aint.
Discts.
(8 % )
Dividends.
Surplus.
1909-10 ..$6,613 ,922 $1,277,253 $980,048 $1,440,000 (5 % )$ 1 ,399.220 $1,517,401
1908-09 . . 5,582,681 1,073,701 970,387 1,410,000 (3 % )
839,532 1,259,061
— V. 89, p. 415.

Western Ice Co.— T r u s t e e 's S a l e . —The Hudson Trust Co.,
as trustee under the general and collateral trust 5% mortgage
dated Dec. 1 190G, will sell at public auction on Aug. 3, at
12:30 p. m., at the office of Brinkerhoff & Fielder, 15 Ex­
change Place, Jersey City, the following property:
P a rcel N o. 1— $209,700 p re f. an d $ 2 ,9 3 2 ,3 0 0 c o m m o n s to c k o f the
K n ic k e r b o c k e r Ice Co. and all the rig h t, title a n d Interest o f the trustee to
a p p ro x im a te ly $32,683 cash h eretofore paid b y th e K n ic k e r b o c k e r Ice C o.
as d iv id en d s on the $209,700 p re f. s t o c k , w ith all in terest p a y a b le th e re o n .
P a rcel N o. 2— Scrip d iv id e n d w arra n t (ce rtifica te N o . 77) fo r $26 ,3 9 6 ,
d a ted .Ian. 1 1908, Issued b y ttfe K n ic k e r b o c k e r Ice C o . o n c o m m o n s to c k
w ith ail Interest received th e re o n .— V . 90, p . 452.

Westinghouse Electric & Manufacturing Co.— P a y m e n t

of

M a t u r i n g N o t e s — O p t io n o f E x c h a n g e . —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
notes due Aug. 1 1913 which have been sold to Kuhn, Locb
& Co. Compare V. 90, p. 1558.
The bankers, by advertisement on another page, offer
holders of the maturing notes the privilege of exchanging the
same, par for par, for the new issue.—V. 90, p. 1672.
Wyatt (La.) Lumber Co.—B o n d s O f f e r e d . —Charles M.
Smith & Co., Chicago, offer at par and int. $150,000 1st M.
6% serial gold bonds dated April l 1910. A circular reports:
In terest A . & O . a t C en t. T r . C o. o f Illin ois, tru ste e , C h ica go.
B on ds
red . o n a n y Int. d ate a t 102 and Int.
P a r $500 an d $1,000 (c * ).
B on d s
m a tu re: $15,000 O ct. 1 1911, $7,500 A p ril 1 1912, $7,500 O ct. 1 1912; there­
a fte r $12,000 sem l-a n n .
P rin . and Int. gu aran teed u n c o n d itio n a lly b y
A . II. H en d erson and G . E . H en d erson o f W y a t t , L a . C o m p a n y o r g . In
1903.
Present financial s ta te m e n t: C apital s to c k , $ 50 0,00 0: surplus,
$ 14 7,23 5; b on d s a u th o riz e d , $ 2 5 0 ,0 0 0 ; less b o n d s reserved (Issuable und er
carefu l restriction s fo r a d d itio n a l tim b e r la n d s ), $ 10 0,00 0; b o n d s o u ts ta n d ­
in g, $15 0 ,0 0 0 ; a 1st M . o n the m a n u fa ctu rin g p la n t, c a p a c ity 15,000,000 ft.
p er a n n u m , an d on 8 3 ,0 5 0 ,0 0 0 f t . o f y e llo w pin e , 14,950,000 f t . o f w hite
oa k an d 26,6 3 2 ,0 0 0 ft . o f o th e r h a rd w o o d s, all virgin tim b e r, In S abine
P a rish , L a . T w o -th ir d s o f the 23,629 acres Is o w n e d In fee sim p le; the re­
m a in d er u n d er tim b e r d eed s. T h e p ro ce e d s o f b o n d s o u ts ta n d in g w ill be
used to p a y floatin g d e b t (A p ril 30 1910 bills p a y a b le , $123,226: a cco u n ts
p a y a b le , $ 3 0 ,7 8 9 ). S in k in g fu n d , $3 50 p er 1,000 f t. o f pine an d w h ite o a k ,
a c c o r d in g t o estim ates on file; a fte r re m o v a l o f tim b e r, land m a y be released
on p a y m e n t o f $3 50 per acre to sin k in g fu n d .

—Dominick & Dominick, 115 Broadway, call attention by
circular to the 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., 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 3j^ 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 rai.'ro.ul, 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
data.
—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
M a n a g e r of the credit department of George II. Burr & Co.,
bankers and commercial paper dealers.
—A list of securities for July investments yielding from
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.



S u g a r___
H id e s ..
C o t t o n ..
M anila hem p
Sisal h e m p . .
F lo u r .

58,500
24,640
102,175
4,243
1,262
55,300

42,000
17,633
250,589
3,543
1,539
51,200

53,328
13,200
170,286
5,431
443
3 3 ,0 0 0

LARD on the spot has declined, owing to weakness in
live hogs, larger offerings and dulness of trade. Prime
Western lly^c., 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.
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.
D A I L Y C L O S IN G P R I C E S O F L A R D F U T U R E S IN NEW YORK.
Sat.
M o n . T u es.
W ed.
T h urs.
F ri.
R o llH o ll- 1 2.10
12 .0 5
12.00
12.05
day.
d a y . 1 2.35
12.38
12.30
12.22

J u ly d e liv e r y ___________
S e p te m b e r d e liv e r y ____

D A I L Y C L O S IN G P R I C E S O F L A R D F U T U R E S IN CHICAGO.
Sat.
M o n . T u es.
W ed .
Th urs.
F ri.
H o llH o ll- 1 2 .0 7 }$ 12.00
1 2 .0 2 }$ 11.80
day.
d a y . 1 2.10
1 2 .0 2 }$ 1 2 .0 2 }$ 1 1 .9 2 }$

J u ly d e l iv e r y .. ...............
S e p te m b e r d e liv e r y ____

PORK on the spot has been quiet and steady. Mess $25@
$25 50, clear $24 50@$26 and family $26@$26 50. 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,
15i^@16c ; pickled bellies, clear, 16@183^c. and pickled
ribs 15J^@173TC- Tallow has been quiet and steady; City
6%c. Stearines have declined with trade active at the’ lower
prices; oleo 9M@19c.; lard 14c. Butter quiet and steady;
creamery extras 28J^@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@81e.; and 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@10J^c.; Ceylon 9@9j^c. 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%@8j^c.; Santos No. 4,
9)^@9%c. West India growths have been quiet and
steady; fair to good Cucuta 9%@10j^c. The speculation
in future contracts has been active at a moderate advance in
prices. Stimulating and strengthening factors have been
better cables from Europe, firmness on the spot here, light
speculative offerings and support from leading trade interests.
Closing prices were as follows:
J u ly --------------------- 6 .8 0 c. |N o v e m b e r ________ 6 .9 0 c . M a r c h ______________7 .0 0 c .
A u g u s t .................... 6 .8 5 c. D e ce m b e r
6 .9 5 c .
A p r i l ______ 7 .0 1 c.
S e p t e m b e r ----------6 .95c. i J a n u a r y ___________ 6 .9 7 c . M a y _______________ 7 .0 4 c .
O c t o b e r --------------6 .9 0 c. 1F e b r u a r y _________6 .9 8 c . J u n e _______________7 .0 5 c.

SUGAR.—Raw has been quiet and firmer. Centrifugal,
96-degrees test, 4.33c.; muscovado, 89-degrees test, 3.83c.;
molasses, 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 18Mc.; drums $8 50 extra.
Naphtha has been in fair demand and steady; 73@76
degrees in 100-gallon drums 16%c.; drums S8 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
small lots, as manufacturers of cigars have continued to
report trade quiet. Prices, however, have ruled firm.
Supplies are moderate and crop reports from Wisconsin
have been unfavorable. Sumatra and Havana have been
in moderate demand and firm.
COPPER has been quiet and steady; Lake 12.60@12^c.;
electrolytic 12j^@12^c.; casting 12@12)4c. Lead quiet
and easier at 4.35@4.45c. Spelter quiet and steady at
5.15@5.60c. Tin quiet and easy; spot 32.37J^c. Iron
has been quiet and steady; No. 1 Northern $16 25@$16 75
No. 2 Southern S15 75@$16 25.

100

THE CHRONICLE

O n Shipboard, N ot Cleared f o r —

COTTON.
8 1910.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
21,571 bales, against 22,879 bales last week and 22,301
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.
F r id a y

R eceipts at—

M on.

S a t.

G alveston _ ______
P o r t A r t h u r ____
C orp . Chrlstl, & c
N ew O rlean s____

109

514

"495

1,079

109

148

125
126

J a ck s on v ille, & c.
B r u n s w i c k ______

—

674

3,213
100

'7 8 9

3,351
728
2

' ” 85

17

25

5,799
728
329

‘ 443

"515

"2 4 5

Y ,5 4 i

125
2,370

"""6

556

"5

1,892

1,860

'5 5 4

2
627

855
2

l '. o i o
13

I ” 56
13
261

2,064
144
261
50

4,942

6,237

4,949

21,571

—

—

‘ 170
102

14

B a ltim ore ______
P h ila d e lp h ia ____

—

—

” 56

2,417

1,659

Total.

531

28

"462

N ’ p o r t N ew s, &c

T o ta ls th is w eek

F ri.

T h urs.

200

"565
10

Y , 567
200
308
3,313

—

1,367

The following shows the week’s total receipts, the total
since Sept. 1 1909, and the stocks to-night, compared with
last year:
1909-10.

1908-09.

This S in ce S ep
1 1909.
Week,.

This S in ce S ep
1 1908.
W eek .

N ew Y o r k _______
B o s to n ............... ..
_____
B a ltim ore
P h il a d e l p h i a ____

3,213 2,465,958
100
142,381
72,058
5,799 1,281,846
728
8,992
329
243,251
137,810
39,490
125
2,370 1,326,917
229 ,426
2,567
214,971
1,570
200
312,453
308
509,282
3,313
18 789
28,495
2,064
14,058
144
78,613
261
1,896
50

7,781 3 ,5 8 3 ,2 3 7
152,759
152,203
6,272 2 ,0 7 0 ,0 9 6
20,221
377 ,452
1,017
155,149
29,748
18
1,479 1,490,295
319 ,8 4 7
83
209 ,692
50
2,634
4 0 9 ! 104
17
587,866
1,472
17,709
274
lO ilO l
18,641
192
99,591
212
6,359
304

23,685
_______
_______
61,301
____. .
3,234
_______
____
15,702
3,906
3,768
_______
1,211
7,722
______
94,509
3,727
3,252
1,021

160,542
3,777
6,343
2,563

T o t a l ___________

21,571 7 ,1 2 8 ,2 6 2

19,171 9 ,7 2 1 ,7 0 4

223 ,038

318,628

R eceipts to
J u ly 8.
G a lv e s t o n ________
P o r t A r t h u r --------N ew O r l e a n s ------M ob ile ....................
S a v a n n a h ..
___
B r u n s w ic k ----------C h a r le s t o n ----------W ilm in g to n . . ..
N o r f o l k _________

!

Stock.
1910.

__

1909.
17,919
81,837
8,782
23.942
371
3,753
102
8,697

In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
R eceipts at—
G a lv e s t o n ___
P t . A r th u r ,& c .
N ew O rlea n s.
M o b i l e _______
S a v a n n a h ___
B r u n s w ic k ___
C h a rleston ,& c
W i lm i n g t o n ..

1909.

1910.

1908.

1906.

1907.

‘ ” 488
42
1,526
283
746

19,799
818
11,700
2,571
22,447
809
2,516
6,441
13,478
155
594

13,787

27,440

81,598

7,781

14,955

3,755

6,272
1,017
1,4.70

7,900
1,253
3,251

4,573
112
2,262

" 2 ,7 6 7
308
3,313

” '4 0 6
1,737
2,091
798
1,278
33,723

N ’ p o r t N ., &c
A lf o th e r s ____

” 3 '3 7 2

T o t a l this w k .

21,571

19,171

1905.

4,1 5 7
37
5,216
1,011
4,791
13
678
2,921
2,373
29
1,436

3,213
100
5,799
329
2,370

” ‘ 133
17
1,472
274
726

S in ce S e p t. 1 . 7 ,1 2 8 ,2 6 2 9 ,721,704 8,1 4 5 ,3 0 8 9 ,6 2 6 .6 4 5 7 ,6 3 0 ,7 5 2 9,5 7 3 ,6 3 9

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 to 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.
Exported to—
Exports
from —
G a lv e s to n ____
Port A rth u r.. .
Corp.ChrIs.,&c.
New O rleans..
M o b ile ......... ....
P e n sa co la -----G u lfp o r t _____
Savannah ____
Brunswick____
Charleston____
W ilm in g ton ...
Norfolk ...........
Newport News
New Y ork ____
B o s t o n ______
B a ltim ore____
Philadelphia . .
Portland, M e ..
San Francisco.

Great
ConitBritain. Fr 'nee nent.
. ___.
100

io o

1,7 34

5,934
____

____
4,200

_

____

1,074
____
____

519

____

__

5,997 4,083
28

_
....

__

___

—

T o t a l ---------

____

"266

....
____

_
____

1,074
519
____
____
____
____

____
6,623 16,703
336
308
____
____
____
'2 6 6

T a co m a ......... ..
Portland, O re.
P e m b in a _____
D etroit.............

Total.

____

__
___

From Sept. 1 1909 to July 8 1910
Exported to—
Great
Britain. France.
715,532 377,722
25,883 18,398
569,356
39,348
48,950
7,818
240,311
87,045
16,901
100,690
4,803
______
317,992
97,609
18,403
45,281
427

187,538
74,001
51.674
83,991
5,496
15,700
____
____
65,792
7,896
____

......

—

______
______
............

____
____
—

__

Continent.

Great
B ritain . F ra n ce

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
______
59,097
28,665
4,404
200
600
...........

1,345

628

__
__

__
__
__

N e w O r le a n s ..
G a l v e s t o n ------S av an n ah ------C h a r le s to n ------M o b i l e ________
N o r f o l k --------N ew Y o r k -----O th er p o r t s ___

5,000
150

T o ta l 1 9 1 0 ..
T o ta l 1 9 0 9 ..
T o ta l 1 9 0 8 ..

6,495
9,148
9,379

800

—

1,428
8,988
5,169

Other
Coast­
F oreign w ise.

Ger­
m an y.
1,525
1,870

__
__

200
75
3,670
9,980
21,570

6,869

__
__
__

1,211
2,080

11,578
3,050

1,500
6,317

1,500
6,317
6,000
225

49,723
19,735
15,702
3,768
1,734
1,405
88,500
12,892

20,570
45,109
57,493

193,468
273,519
186,655

__
__

—

—

6,869
8,682
5,036

L eaving
S tock.

Total.

11,108
8,311
16,339

__
__

Speculation in cotton for future delivery has been quiet
and fluctuations in prices have been confined within a com­
paratively narrow range. The tendency, however, has been
upward. Many regard current prices as unduly high, but
the 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
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
supply to Europe. 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:
F a ir ..................3c 1.SO o n i M id d lin g .................c . Basls|Good mid. tln ged.c Even
Strict mid. fair____1.30 o n j Strict low. m id_____ 0.25 ofT|Strict mid. t in g e d ..0.15 oft
Middling fair
1.10on|Low m iddling............0.60 off |Middling tinged . .0.25 off
Strict good m id____0.66 on|Strlct good ord. ..1 .0 5 olT|Strict low .M id.ting.0 .0 0 off
1.75 off |Low mid. t in g e d ... 1.50 off
Good m iddling____0.44 on Good ordinary.
Strict m iddling____0.22 o n |Strict g ’d mid. tgd .0.35 on| Middling stained. .0 .7 5 off

j

Total.

510,141
108,564
57,363
62,228
427
59,097
28,665
4,404
200
600
............

10,744 4,083

9,839 24,866 2,336,469 891,808 2,690,660 5,918,937

Total 1908-09. 24,059 12,867

3,138 40,004 3,482,938 1024671 3,731,226 8,238,835

In addition to above exports, our telegrams to-night also
givejus the followiiiglamounts^of cotton on shipboard, not
cleared, at the portsInamed.jflWe add similar4\figuresJ(for
New York.
iSagBBag BEgteC *4} .
^



J u ly 8 at—

J u ly

548
100

837

. . . .

‘ ids

G e o r g e t o w n ____
W i lm i n g t o n ____

N ig h t,

W ed.

T u es.

[VO L. L X X X X I

The official quotation for middling upland cotton in the
New York market each day for the past week has been:
J u ly 2 to J u ly 8—
S at.
M id dlin g u p la n d s ______________
H.

Mon.

Tues.

H.

l o .4 5

Wed. Thurs.
15.35

1 5 .3 5

Fri.
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:
1 9 1 0 .c . . .
19 0 9 ____
1 9 0 8 .. .
1907____
190 6____
190 5____
190 4____
190 3____

. .1 5 .4 0
. 12.60
..1 1 . 2 0
13.40
. . 10.80
. .1 0 . 9 0
. .1 1 . 2 5
. .1 1 . 6 0

1 9 0 2 .C . . .
190 1____
1 90 0____
1 89 9____
1898 . . .
1 89 7____
1 8 9 6 ____
1895_____

. . 9.25
. 8.75
. .1 0 . 1 2
.
6.19
. . 6.19
7.88
. . 7.44
. . 7.19

1894 c . _
1 8 9 3 ...
189 2_____
1891 .
1890 . .
1889 . .
1888
1887 ____. .

. 7.25 1 8 8 6 .c . . _ . 9.50
8.00 1 88 5____ . . . 1 0 , 5 0
. 7.31 1 88 4____ . .1 1 .0 6
. 8.38 188 3____ . _ 10.12
.1 1 .9 4 1882 ____ . . 12.94
11.19 1881. . . . . .1 1 . 1 9
.10.31 1880 . . . . ..1 1 .8 1
.10.94 1879____ . .1 2 . 2 5

MARKET AND SALES AT NEW YORK.

S a t u r d a y ..
M o n d a y ___
T u e sd a y . .
W e d n e sd a y
T h u rsd a y .
F r id a y ____
T o ta l

S p ot M arket
C losed .

F u tu res
M arket
Closed.

Q uiet 10 pts a d v ----Q uiet 10 pts d e c -----Q u i e t _______________
Q uiet 5 pts a d v ____

H O L ID A Y .
H O L ID A Y .
S t e a d y .............
B’ ly s t e a d y . .
F i r m .......... ....
F i r m ________

Sales o f Spot and Contract.
C on C on ­
S p o t. su m ’ n. tract.

4,997
386
1,9 6 5
7,348!

Total.

6,900 11,897
1,700 1,700
1,200 1,586
3,800 5,765
____ 13,600 20,948

101

THE CHRONICLE

J u l y 9 1 9 1 0 .1

J

A

S

O

N

D

e b

J

F

a

—

R an ge
C losin g
r c h —
R an ge
C losin g
r i l —
R an ge
C losin g
y —
R an ge
C losin g
e —
R an ge
C losin g

u l y —
R ange
C losin g
u g u s t —
R ange
C losin g
e p t .—
R ange
C losin g
c t .—
R ange
C losin g
o v .—
R ange
C losin g
e c .—
R ange
C losin g
a n .—
R an ge
C losin g

M

a

p

M

n

A

J u

AT THE INTERIOR TOWNS the movement—that is,
FUTURES.—The highest, lowest and closing prices at
the receipts for the week and since Sept. 1, the shipments
New York the past week have been as follows:
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.

H O L I­
D A Y .

**2
M fJ
* «

SCSI'S

J
H O L I­
D A Y .
MM
men
>£*■O

MM
c cn
-in-

M |
©
M

MM
- i ~i
O O

WW
w w
00 W

!u £
oo oo
O O

1 ©

1©

1©

1©

j ®

1®

1®

1©

1©

1©

1©

M

MM

MM

M

MM

WW

1®
O O

O 1
o 1

O O
O -1

O 03
Oo c

b |
O 1

-1 OO
COO

W £.
CDM

boo
i-'O

iu o
^-M

M |
£»
W

MM
! u iu
WW

MM
£. £»
O O

M |
O
»-*

MM
O O
O O

WW
MM
O O

!u £
O O
CC CD

O O
MM
OO

| ©

1 ®

1 ®

|©

1®

1®

1©

1®

1®

||
II

||
II

to
A|
o 1

MM
lu o

M
| O
l o

MM
O O
WO

to to
0**J
O CO

WW
M it.
-J W

>U ii*
- ) 00
CM

O O
M L*
00 J-

M |

II

|

||

MM

W W

ib £.

O O

-JO
O M

WM
o M

OOO
i— t o

WM
CD L-

| ©

1©

1®

1 ©

|©

|©

M M M

1©

| ©

MM

MM

to

MM

WW

£>.>£.

O O

I I
II

o o
—J O

o 1
o l

o o
O O

o o
0000

o |
it»|

-j-j
-100

w u
O O

oo oo
MM

-t< p >

|

I I

MM
O O
oow

M |
O
O

MM
O O
O O

MM
O O
-1 w

MM
-JO
O ►-*

M M
00-1
CUM

WW
4*. W
>L. >-•

£ £
00-J
0-1

O O
W
o w

1 ©

1 ©

1®

1 ©

1®

1®

1 ©

1®

1 ®

1®

M M
o o
O O

M M
o o
00 CO

M M
- j- j
m* O

M M
c o bo
O O

WW
iu ii
-J-J

£»
oo c o
o o

O O
iu
00 CO

1 M

1 M

1 M

1 W

O
O

O
M

M
M

m

1 ©

I I
(1

M
t.ji
o l

| i
II

MM
’o - i
CDO

I I

I I

II

1 M

1 M

1 M

lu
O

O
O

>u
M

1 ®

|®

| ®

| ®

M
o|
-ll

|®

| ®

| ®

|®

|®

M

M

M

M

M
I I

1©

b 1
M |

-J
M
1 ®

M |
O
M

II

I I

1 3 1 1

I S

I S

l o

I S

1 ©
W
l b

|

7.

I I

MM
O ■(*
- J >£»

l y

|®

MM
o iU
M

u

1©
M

M |
O
>£■

J

1 ©

to M
O it*
o O

0»
CO CO 00 o O c s M « *CCl J

| ®
it.
I S

^ w t o «o 00

M Oi

(O M

COV j

CS o Vo o

ro

CDWMWm*©,UMCO.I*.S*-JI-*0*©-JW>-*Ci .P*Wm‘ OOC>30>&.OOm‘ OSO-J©0
Qo>-tc>o>ooo>©«o»-‘ -j-j-jcoooMO>-*©©wo©woowutiC*'COc;<M>-‘ Mw

Ml

to i

C COm *-»»-»
>-*£,►
-‘ to V«tkt->eoi
W^QOCOWCOWMifc.1

W

■ 4 »N tX

CO

C« CO COM W t o M

to

cc CD

^ 2 Co

Ilf

M

w >-• oo co M
o» t o oe o tss o oo i-» co
cs - J os m co - j i-* os - j co -a - j
C»>-‘ WC»>--i-*>t1- - J 0 0 © C « © i t » - » - * C J e ; * 0 C M © ® - J M M W —JC»t-*CO
Q Q t ';C ) 0 ‘- ‘ O O t ,n - « O C O O W i U O o O i t > M . b O o t ji > C O O N ; o M C )

."e g

E3.

o to

| O
O
M

W Oc ►-* Cn Co

Mh

h u r s d a y ,

O
CO

< u a

'l O ^ i
iU
itiCiMWi W>-M*
M C S 0 0 h* i

T

1©
to t o
Iu«*
OO CD

,

||

1 ®

6.

||
II

|©

l y

WO
GO Do
M M

e d n e s d a y

I I
1 1
I I

J u

II
II
II

W

I I
I I
I I

5.

MM

iu
WM

l y

MM
c c
W O

:

■ d gw
■a 8®v*

e s d a y ,

MM
c c<
-I M

02.

u

||

J u

||

t

K

:g

T

||

■.ICO

«j o
o £

« S ,

9

O

sIS

•B —

CC >-* O

M*M±

N ^ M O M ^ I C S O W O I -M o ic e

S 11 C5 f - Iv C CO C) y O *•! CJ O

M
>U

COHh*

M

l-*H»

tnCSO>C«J=*l-‘ M O « O i-‘ 0»M

i-* 00 C> C O -* pM 'J COC '1 W O it* >-•

CSMMOWOOWWM
©cn m - i O*J30(COtOi-**4Mh*CsOOM00N0SC''>-,
it‘ f t ‘ lC C C iO S iU M O N O > * J C S > -* te M C O C O M it»M W O O »-* it* 0 »N C ,T

|©

O - J O o - J L5 CO CO COro t O lfc O W W Q .U C O M i-* 'I W L H l - t o C O ^ O W C C M C O

O
i s

L L ?C c : M Cl L f L tC CJ c.11J W
CO COCO -1 t o '
C , i © 0 i O i ^ M t o O p L « i 'l O C 0 O C '0 C O C J O > - ‘ M O i
-J C C C I H Q M H Q O C O O ^ O C i O O M O O C O O i

-4 w
>-*
Cl O C COCl
O t-* c c 00 CO

s g *t ;y
o
<^C
ct
irj? Y

THE VISIBLE SUPPLY OF COTTON to-night, as
c i ►-*c *
w
w w w
M
cn
«t*
cn
* *
c co
made up by cable and telegraph is as follows. Foreign
*k to V -V j4 ^ i-* t o c T * » o » o c o c o ^ r o
V i <o *»•©>-* b o M ^ c n c * c *
stocks, as well as the afloat, arc this week’s returns, and
C O C O i-* M « C O *4 C iN M O O O « C J'M » I'IC *> -1 O e A O O it ‘ ifk O ff lN
CCk-3 cc«Ci O>-*i—
‘ QcO>t»OOC0'.|C'-‘ CD00C0^.OC0C»**C0C0C0
consequently all foreign figures are brought down to Thurs­
day evening. But to make the total the complete fig­
The above totals show that the interior stocks have de~
ures for to-night (Friday), we add the item of exports c r e a s e d during the week 27,934 bales and are to-night 20,130
from the United States, including in it the exports of Friday bales less than at the same time last year. The receipts
only.
at all the towns have been 54 bales more than the same
1909.
1910.
1907.
J u ly 8—
1908.
week last year.
500,000 1,056,000
534 ,000 1 ,0 63,000
S to c k a t L iv e r p o o l_________ bales
OVERLAND MOVEMENT FOR THE WEEK AND
13,000
S to c k a t L o n d o n
_____ ________
7,0 0 0
7,000
8 ,000
73,000
4 4 ,000
S t o c k a t M a n c h e s t e r _____________
75,000
65,000
SINCE SEPT. 1.—We give below a statement showing
the overland movement for the week and since Sept. 1, as
551,000 1 ,1 38,000
607 ,000 1,149,000
T o t a l G reat B ritain s t o c k .
24,000
14,000
14,000
12,000
made up from telegraphic reports Friday night. The results
261 ,000
323 ,000
160,000
303 ,000
for the week and since Sept. 1 in the last two years are as
188,000
142,000
147,000
239 ,000
3 ,000
follows:
5,000
S to c k a t M arseilles.
2,000
3,0 0 0
m

S to c k a t B a rcelon a .
S to c k a t G e n o a ------S to c k a t T r i e s t e ------

T o ta l C on tin en tal s t o c k s _______
T o ta l E u rop ean s t o c k s . _
In d ia c o t to n a floa t fo r E u ro p e ___
A m erica n c o t to n a floa t fo r E u rop e
E g y p t,B ra zil,A c .,a flo a t fo r Eu
S to ck In A lex a n d ria , E g y p t .
S to c k In B o m b a y , I n d ia -----S to c k In U . S . p o r t s ------------S to ck In U . S . Interior tow n s
U . S. e x p o r ts t o -d a y .........................

11,000
20,000
9,0 0 0

32,000
3 2 ,000
7,000

3 9,000
27,000
2 0 ,000

21,000
4 0,000
34,000

363 ,000

628 ,000

580 ,000

561 ,000

9 14 ,000 1 ,7 66,000 1,187,000 1,710,000
123,000
76,000
204 ,000
90,000
130,340
155,173
88,953
108,250
13,000
29,000
29,000
28,000
7 2,000
101,000
106,000
63,000
656 ,000
3 69 ,000
4 71 ,000
7 19 ,000
223,038
318,628
244 ,148
3 19 ,087
131,458
151,588
165,776
137,969
3,881
8 ,796
3,426
.............

2 ,2 62,836 2 ,9 7 0 ,2 7 0 2 .4 0 9 .9 7 0 3 ,2 7 3 ,4 3 5
m an d o th e r d e scrip tio n s a r c as fo llo w s:
A m erica n —
L iv e r p o o l s t o c k _____________ bales.
M anch ester s t o c k ....................
A m erica n a flo a t fo r E u ro p e .
U . S. ex p o r ts t o -d a y _
E a st In d ia n , B ra zil, A c .—
L iv e r p o o l s t o c k _____ ___________
L o n d o n s t o c k __________________
M anch ester s t o c k ______________
C on tin en tal s t o c k ______________
E g y p it, B razil, A c ., a flo a t .
S tock

407 ,000
3 4,000
306 ,000
130,340
223,038
131,458
.............

002 .000
6 0,000
575,000
155,173
318 ,628
151,588
3,881

4 25 ,000
54,000
4 94 ,000
108,250
244,148
165,776
8,796

9 2 7 ,0 0 0
63,000
4 7 2 ,0 0 0
8 8,953
319 ,087
137,969
3 ,426

1,231,836 2 ,2 26,270 1 ,4 99,970 2 ,0 1 1 ,4 3 5
9 3,000
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
4 71 ,000

140,000
13,000
10,000
8 0,000
2 04 ,000
28,000
63,000
7 19 ,000

m

J u ly 8—
S h ipp ed —
V ia S t. L o u is .....................
v i a C a ir o ______________
V ia R o c k I s la n d ........... ................ ..
V ia L o u is v i ll e ------------V ia C in cin n a ti_____________________
V ia V irginia p o r t s _________________
V ia o th e r r o u t e s ________________ .

m m m

--------1 9 0 9 -1 0 -------S ince
W e ek .
S ep t. 1.
6,6 5 6
432 ,463
2,4 8 7
179,329
........
19,915
3 ,7 1 0
120,208
218
46,475
487
134,450
763
153,534

T o ta l gross o v e r la n d -------------------14,321 1,086,374
D educt Sh ipm ents—
O verlan d to N . Y . , B o s to n , A c_ _ 2,519
123,062
B etw een Interior t o w n s ___________
323
62,049
In la n d , A c ., fro m S o u th , A c ____ 3 ,292
70,216

m

1 9 0 8 -0 9 -------S in c e
S ep t. 1..
6 6 0 ,2 2 5
3 03 ,528
3 0 ,5 2 4
8 3,933
"6 1 6
267
4 8,777
988
184,007
1,267
2 7 5 ,5 9 0

W eek .
7,521
1,054

11,713 1,586,584
708
1,328
2 ,688

1 4 3 ,6 9 2
4 7 ,5 7 4
5 2,532
243 .798

T o ta l to be d e d u c t e d ............... ......... 6,134

255,327

4 ,724

L e a v in g to ta l n et o v e r la n d * ___ 8 ,1 8 7

8 31 ,047

6 ,989 1 ,3 4 2 ,7 8 6

* In clu d in g m o v e m e n t b y rail to C anada.

The foregoing shows the week’s net overland movement
this year has been 8,187 bales, against 6,989 bales for the week
last year, and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 511,739 bales.
1 9 0 9 -1 0 In Sight and S p inn ers'
iSince
T a kin gs.
W eek.
S ep t. 1.
R e ce ip ts a t p o rts to J u ly 8 _______ 21,571
7 ,1 2 8 ,2 6 2
N et o v e rla n d to J u ly 8 ____________
8,187
831 ,047
S ou th ern co n s u m p tio n to J u ly 8 _ - 4 0,000
2 ,1 7 3 ,0 0 0
T o ta l m a r k e te d ___i _____________ 69,758 1 0 .1 3 2 ,3 0 9
In terior s to ck s In e x c e s s __________ *27,934
4 8 ,2 9 5

1,031,000
7 44 ,000
9 10 ,000 1 ,2 6 2 ,0 0 0
1,231,836 2,2 2 0,2 7 0 1 ,4 99,970 2 ,0 1 1 ,4 3 5

C am e Into sigh t d u rin g w e e k ____ 41,824

T o ta l visible s u p p ly ------------------ 2 ,2 6 2 ,8 3 6 2 ,9 7 0 ,2 7 0 2 ,4 0 9 ,9 7 0 3 ,2 7 3 ,4 3 5
M id d lin g U p la n d , L iv e r p o o l-------7 .9 2 d .
6 .7 5 d .
6 .3 4 d .
7 .1 8 d .
M id dlin g U p la n d , N ew Y o r k ------1 5 .4 0 c .,
12 .7 0 c.
11 .2 0 c.
1 3 .0 5 c .
E g y p t . G ood B row n , L i v e r p o o l ..
12H d.
0^d.
8 7 -1 6 d . 11 7 - l0 d .
P eru v ia n , R o u g h G o o d , L iv e r p o o l
ll.O O d .
8 .2 5 d .
9 .1 5 d .
1 1 .5 0 d .
B r o a c h , l-'inc, L iv e r p o o l_________
7d.
6H d.
5 9 -1 6 d .
C > p l.
T ln n c v c lly , G o o d , L iv e r p o o l------7d
5K d.
5 3 -1 0 d .
5^d.

N o rth ’n sp ln n ’ s tak in gs to J u ly 8 . 21,758

-1 9 0 8 -0 9 S in ce
S ep t. 1 .
9 ,7 2 1 ,7 0 4
1,342,786
2 ,1 8 0 ,0 0 0

W eek .
19,171
6,989
52,000

78,160 1 3 ,2 4 4 ,4 9 0
*21,037
37,582
57,123

10,180,604
2 ,0 95,543

1 3 .2 8 2 ,0 7 2
26,898

2 ,6 9 6 ,3 8 0

• D ecrease d u rin g w eek .

Movement into sight in previous years:
W eek—
1908— J u ly
1907— J u ly
1906— J u ly
1905— J u ly

B a les.
S in ce S ep t. 1—
B a les.
1 0 . . ......................
71,825
1 9 0 7 -0 8 — J u ly 1 0 _______ 1 1 ,096,427
1 2 ___________
52,354
1 9 0 6 -0 7 — J u ly 1 2 _______ 13,141,694
1 3 _________________ 67,306 1 9 0 5 -0 6 t—J u ly 1 3 _______ 1 0 ,706,484
1 4 _______
. .1 2 4 ,7 4 6 1 9 0 4 -0 5 — J u ly 1 4 . ______ 12,868,41 a

Continental imports for the past week have been 52,000
bales.
The above figures for 1910 show a decrease from lastjweek “ Quotations , fo r m id dlingjjotton ^a t ^otheii
of 187,919 bales, and a loss of 707,4.'J4 bales from 1909, MARKETS.—Below are the,closing quotations of middling
a decrease of 147,134 bales from 1908, andalossof 1,010,599 cotton at Southern and other'principal_cotton_markets,Jor
bales from 1907.
each day of the week.




102

THE CHRONICLE
C losing Q uotations f o r M id d lin g Cotton on—

J u ly

8.

G a lv eston _ ___
N ew O ilc a n s ___
M o b i l e _________
S a v a n n a h ___ .
C h a rleston _____
W ilm in g t o n ____
N orfolk ________
B o s to n ________
B a lt i m o r e _____
P h ila d e lp h ia ___
A u g u s t a ________
M e m p h is _______
S t. L o u is .............
H o u s t o n ____ _
L ittle H o c k ____

S a t'day.

IIO I.IDAY.

M on d ay. Tuesday. W ed’day. T hursd'y

F rid a u .

I I O I .IDAY.

14 Vs
14 15-10
14 %
14 %

14%
14 15-16
14 %
14%

14%
14 15-16
14 %
14.%

14 13-10
14 15-16
14%
14%

15 %
15.35
15 %
15.70
15 %
14 !A
14 %
14%
14%

15%
15.45
15%
15.00
15%
14%
14%
14 %
14%

15 %
15.35
15 %
15.00
15 %
14%
14%
14 %
14%

15%
15.35
15%
15.65
15 %
14 15-16
14%
14 %
14%

NEW ORLEANS OPTION MARKET. —The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sat' d a y ,
J u ly 2.
J u ly —
K an ge _______
C losin g----------A u g u st—
R a n g e ___ __
C l o s i n g --------Septem ber—
R a n ge _______
C losin g ----------October—
R a n g e ----------C losin g—
N ovem ber—
R a n g e ----------C lo s in g ----------D ecem ber—
R a n g e ----------C lo s in g --------J a n u u rg —
R a n g e ----------C lo s in g .............
Alet rch—
R a n g e --------C losin g ----------T on e—
S p a t ...............
O p tion s ------

M on d a y, Tuesday, W ed’ day, Tliursd'y, F rid a y ,
J u ly 0.
J u ly 7.
J u ly 5.
J u ly 4.
J u ly 8.
1 4.98-.2 0 1 4 .9 2 -.10 14.88-.93 1 4.85-.9 9
15.0 3 -.0 4 1 4.93-.9 5 14.93-.94 14.93-.97
14.32-.3 9 14.18-.2S 14.13-.26 14.27-.31
1 4.32-.3 3 14.16-. 18 14.25-.26 14.30-.32
13-17-.20 — @ — 13.03-.17 13.10 —
1 3.15-.1 7 13.03-.0 5 13.10-.18 13.19-.21
1 2.63-.7 0 12.57-.00 12.50-.08 12.64-.76
12.66-.6 7 12.57-.5 8 12.07-.08 12.72-.73
----------.55 --- («> --- @ — — @ —
12.58-.0 0 12.49-.51 12.45-.50 12.05-.67

I I O I .IDAY.

I I O I .IDAY.

12.51-.6 0 12.45-..57 12.47-.58
1 2.55-.5 0 12.46-.4 7 12.50-.57 12.02-.03
12.56-.6 3 12.47-.01 12.47-.58 12.C3-.05
12.58-.0 0 12.48-.49 12.58-.59 1 2 .6 4 -0 5
— @ — — @ — 12.00-.07 — @ —
12.6412.5312.00-.08 12.73-.7 5
F irm .
S te a d y .

Q u iet.
S te a d y .

Q uiet.
Easy.
V ery s t’ y B a rely st

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 in parts of Texas, especially in
western sections, general rains are still needed. From dis­
tricts along the Gulf and in some localities elsewhere there
are complaints of too much rain. Temperature has been
seasonable.
G a l v e s t o n , T e x a s . —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.
A b i l e n e ., T e x a s . —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.
B r e a h a m , T e x a s . —We have had rain on two days the
past week, the rainfall being ninety-one hundredths of an
inch. Thermometer has averaged 80, ranging from 72 to 100.
C u e r o , T e x a s . —There has been light rain on two days
during the week, to the extent of fifty-nine hundredths of an
inch. The thermometer has ranged from 69 to 101, aver­
aging 85.
D a l l a s , T e x a s . —It has rained one day of the week, the
rainfall being thirty-eight hundredths of an inch. Average
thermometer 84, highest 100 and lowest 07.
H e n r i e t t a , T e x a s . —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 00 to 102.
H u n t s v i l l e , T e x a s . —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 SO.
K e r r v i l l e , T e x a s . —We have had no rain during the past
week. Average thermometer 88, highest 105, lowest 00.
L a m p a s a s , T e x a s . —We have had showers on two days of
the week, to the extent of twenty-five hundredthsof an inch.
The thermometer has averaged 85, the highest being 101 and
the lowest 08.
L o n g v i e w , T e x a s . —We have had rain on four days during
the week, to the extent of one inch and seventy-three hun­
dredths. The thermometer has averaged 84, ranging from
70 to 98.
L u l i n y , T e x a s . —There has been rain on one day during
the week, the precipitation being sixteen hundredths of an
inch. Thermometer has ranged from 68 to 102, aver­
aging 85.
.
N a c o g d o c h e s , T e x a s . —Ram has fallen on two days of the
week, the rainfall being forty-one hundredths of an inch.
Average thermometer 80, highest 89, lowest 70.
P a l e s t i n e , T e x a s . —We have had rain on four days of the
week, the precipitation reaching one inch and sixty-eight
hundredths. The thermometer has averaged 82, the high­
est being 96 and the lowest 68.
P a r i s , T e x a s . —We have had light rain on two days during
the week, to the extent of twenty-three hundredths of an
inch. The thermometer has averaged 81, [ranging from
65 to 97




[VOL. L X X X X I

S a n A n t o n i o , T e x a s . —We have had light rain on two days
during the week, the rainfall reaching forty-four hundredths
of an inch. The thermometer has ranged from 68 to 100,
averaging 84.
T a y l o r , T e x a s . —There has been no rain during the week.
Average thermometer 88, highest 98, lowest 68.
W e a t h e r f o r d , T e x a s . —There has been no rain the past
week. The thermometer has averaged 84, the highest being
99 and the lowest 69.
A r d m o r e , O k la h o m a . —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.
M a r l o w , O k la h o m a . —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.
O k la h o m a , O k la h o m a . —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.
A l e x a n d r i a , L o u i s i a n a . —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.
A m i t e , L o u i s i a n a . —We have had rain on six days during
the week. The rainfall reached three inches and thirty-five
hundredths. The thermometer has ranged from 69 to 91,
averaging 80.
•
N e w O r l e a n s , L o u i s i a n a . —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.
S h r e v e p o r t , L o u i s i a n a . —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.
C o l u m b u s , M i s s i s s i p p i . —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
from 71 to 90.
M e r id ia n ,
M i s s i s s i p p i . —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.
V i c k s b u r g , M i s s i s s i p p i . —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,
lowest 71.
E l d o r a d o , A r k a n s a s . —Rain has fallen on five days of the
week, to the extent of one inch and twenty-one hundredths.
The thermometer has averaged 80, the highest being 90 and
the lowest 69.
F o r t S m i t h , A r k a n s a s . —Rain has fallen on three days
during the week, the rainfall reaching thirty-one hundredths
of an inch. The thermometer has averaged 83, ranging
from 70 to 96.
H e l e n a , A r k a n s a s . —Grass is growing and cotton is suffering
on account of too much rain. There has been light rain
the precipitation being one inch and seventy-five hundredths.
Thermometer has ranged from 71 to 89, averaging 78.5.
L i t t l e R o c k , A r k a n s a s . —Weather conditions favorable for
cotton on hill lands but a little too much rain for bottoms.
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.
D y e r s b u r g , T e n n e s s e e . —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.
M e m p h i s , T e n n e s s e e . —We are having too much rain.
Dry, hot weather is needed. There has been rain on 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.
N a s h v i l l e , T e n n e s s e e . —Rain has fallen on six days during
the week, the precipitation being one inch and seventy
hundredths. The thermometer has ranged from 68 to 82,
averaging 75.
M o b i l e , A l a b a m a . —There is general complaint of too much
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.
M o n t g o m e r y , A l a b a m a . —Too much rain.
Rain has fallen
on each day of the week, to the extent of two inches and
thirtv-six hundredths. The thermometer has averaged 78,
the highest being 89 and the lowest 68.
S e l m a , A l a b a m a . —Rain has fallen cn each day of the week,
the precipitation reaching three inches and six. hundredths.
The thermometer has averaged 80, ranging from 70 to 92.
T h o m a s v i l l e , A l a b a m a . —There has been rain on six days
during the week, the precipitation being three inches and
eighty hundredths. Thermometer has ranged from 66 to
89, averaging 78.
M a d i s o n , F l o r i d a . —There has been rain on three days
during the week, to the extent of one inch and fifteen hun
dredths. Lowest temperature 71, highest 95, average 82.
T a ll a h a s s e e , F l o r i d a . —We have had rain on four days
during the week, the precipitation being two inches and
fifteen hundredths. The thermometer has averaged 80, the
highest being 90 and the lowest 70.

J u l y 9 1 9 1 0 .)

THE CHRONICLE

A tla n ta ,, G e o r g i a .—Iiuin has fallen on six days of the week,
the precipitation being two inches and six hundredths. The
thermometer has averaged 77, ranging from 68 to 80.
A u g u s t a , G e o r g i a .—We have had rain on five days during
the week, the precipitation reaching ore imh and eight
hundredths. The thermometer has ranged from 70 to 92,
averaging 81.
W a s h i n g t o n , G e o r g i a .—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.
S a v a n n a h , G e o r g i a .—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
and the lowest 09.
C h a r le s t o n , S o u t h C a r o l i n a .—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.
G r e e n v il l e , S o u t h C a r o l i n a .—We have had rain on five dajT
s
during the week. The rainfall reached two inches. The
thermometer has ranged from 07 to 85, averaging 70.
G r e e n w o o d , S o u t h C a r o l i n a . —It, has rained on six days of
the week, the rainfall being two inches and fifty-seven
hundredths. Average thermometer 80, highest 94 and
lowest 07.
S p a r t a n b u r g , S o u t h C a r o l i n a .—The week’s rainfall has
been one inch and thirty-nine hundredths, on five days. The
thermometer has averaged 80, the highest being 93 and the
lowest 07.
C h a r lo tte , N o r t h C a r o l i n a .—There has been rain on three
days of the past week, the rainfall reaching fifty-five hun­
dredths of an inch. The thermometer has averaged 77,
ranging from 00 to 87.
G r e e n s b o r o , N o r t h C a r o l i n a .—Rain has fallen on three
days during the week, the rainfall being thirty-four hun­
dredths of an inch. The thermometer has ranged from
00 to 97, averaging 82.
R a le ig h , N o r t h C a r o l i n a .—We have had rain on three days
during the past week, to the extent of one inch and fifty-six
hundredths. Average thermometer 80, highest92, lowest 68.
INDIA COTTON MOVEMENT FROM ALL PORTS.
July

7.

1909-10.

Receipts at—
Bom bay

1908-09.
Week.

22,000'3,111,000

15,000 2,060,000

For the Week.
Exports
from —
B om bay—
1909-10..
1908-09..
1907-0.8..
Calcutta—
1909-10..
1908-09..
1907-08..
Madras—
1909-10..
1908-09..
1907-08..
All others—
1909-10..
1908-09..
1907-08..
Total all —
1909-10..
1908-09..
1907-0,8..

Great
Britain

15,000
0.00C
9,00(,

_____
—
_____

1 ,6 6 6

Since
Sept. 1.

Great
Britain.

I3,00(
15,00(

2 1,0 0 0

10,0 01

25,000

29,000

Conti­
nent.

94,000
23.00C
28,000

935,000
562,000
41,000
40,000
25,000

0 1 0 ,0 0 0

1.00C
_____

1,00C

_____

1,0 0 0

2 ,00 0

3,000
5,000
5,000
4,000

18,000

1 ,6 6 0
2 ,0 0 0

4 ,000
6 ,0 0 0

1 ,6 6 6

_____

_____

1,0 0 0

1 .6 6 6

5 ,0 0 0
8 ,000

7,000

6 ,0 0 0

5,000
3,000

23,000 1,979,000

Japan
tfe China.

1,0 0 0
1,0 0 0

1 ,6 6 6

Since
Sept. 1.

Since September 1.

Conti­ Japan
nent. ■JkChtnc Total.

1 .0 0 0

1907-08.

I Since
Week. I Sept. 1.

2 ,0 0 0

1 1 ,000

28,000

14,000

2 0 ,0 0 0
2 0 ,0 0 0

10 ,0 0 0

1
1 ,000 ' 2 1 ,0 0 0 2 0 .0 0 0 4 2,000
1.0 0 0 16,000 2 0 ,0 0 0 37.000
2 .0 0 0 16,000 2 1 ,00 0 | 39.000

Total.

840,000 1,875,000
638,000 1,223,000
383,000 1 ,0 2 1 ,0 0 0

2 0 ,0 0 0

91,000
76,000
50,000

.27,000

1,0 0 0
1 1 ,0 0 0
8 ,0 0 0

23,000
37,000
41,000

299,000
278,000
239,000

14,000
69,000
32,000

341,000
367,000
291,000

2 2 ,0 0 0

47,000
31,000

-

' I
1
129,000 1,293,000 908.000 2.330,000
52.000 902.000 749.000 1,703,000
59.000 901.000 443.0001.103.000

ALEXANDRIA RECEIPTS AND SHIPMENTS.
A lexa n d ria , E g ypt,
J u ly 6 .

1909-10.

1908-09.

1,500
4 .9 0 7 ,0 5 3

4 ,5 0 0
6 ,6 6 9 ,9 8 0

This
S in ce
W eek. S ept. 1.

This
S in ce
W eek . S ep t. 1 .

S in ce
This
W eek . S ept. 1.

1.250 150,294
118.408
4.250 292,853
1.250 60,977

3,0 0 0 189,264
207,439
13,750 350 ,495
900 87,104

222 ,160
202,170
9 ",566 352 ,085
70,165

17,650 834,302

9,500 846 ,589

R eceipts (cantars) —
T h is w e e k ________
S in ce S ep t. 1_____

E xp orts (bales) —
To
To
To
To

L iv e r p o o l_____________
M a n c h e s t e r .......... .........
C o n t i n e n t ____________
A m e r ic a ______________

T o ta l e x p o r t s _________

6,7 5 0 ,6 2 2 ,5 3 2

1007-08.

WORLD’S SUPPLY AND TAKINGS OF COTTON.
Cotton T a k in g s .
W e e k and Season.

1900-10.
W e ek .

1908-09.

| S eason .

| W eek .

S eason.

V isible s u p p ly J u ly 1 ____
2 ,4 5 0 ,7 5 5
---------------3 ,188,411
V isible s u p p ly S ep t. 1 ....... ............
1,931,022
1,714,982
A m e rica n in sight to J u ly 8 ____
41,824 1 0,180,604
57,123 13,282,072
B o m b a y re ce ip ts to J u ly 7 _____
2 2 ,0 0 0
3 ,1 1 1 ,0 0 0
15,000 2 ,066,000
O th er In d ia sh lp ’ ts to J u ly 7 . .
13.000
4 5 5 .0 0 0
16,000
480.000
A le x a n d ria receip ts to J u ly 6 . .
300
6 5 4 ,3 0 0
300
889 ,300
O th er s u p p ly t o J u ly 6 •______
1 0 .0 0 0
259 .0 0 0
3,0 0 0
187.000
2 ,537,879 10,590,920 3 .2 7 9 ,8 3 4 18,619,354
D e d u c t—

•
V isible s u p p ly to J u ly 8 .

2,2 6 2 ,8 3 6

T o t 6 l t a klngs to J u ly 8 ________
O f w h ich A m e r ic a n ___________
O f w h ich o t h e r _______________

2 ,2 6 2 ,8 3 6 '2 ,9 7 0 ,2 7 0

275,043 14,328,090 i
202,743 1 0,402,790
72,300 3 ,9 2 5 ,3 0 0 '

2,9 7 0 ,2 7 0

309,564 15,649,084
238,264 12,032,784
71,300 3 ,6 1 6 ,3 0 0

COTTON CONSUMPTION AND OVERLAND MOVEMEAT 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:
1900-10.

1808-09.

1007-08.

G ross o v e rla n d fo r J u n e ______
bales
51,430
64,129
79,061
G ross o v e rla n d fo r 10 m o n t h s ____ ’
1,068,526 1,571,829 1,104,360
N et o v e r la n d fo r J u n e ____________
23,600
53,319
65,104
N et o v e r la n d fo r 10 m on th s _
819 ,837 1,333,662
867,577
P o rt re ce ip ts In J u n e ________
123,831
181,716
242,157
P o rt re ceip ts In 10 m o n th s __
" "
7,102,451 9,6 9 4 ,3 2 0 8 ,086,498
E x p o r ts In J u n e ..................
.............
307 ,529
268,587
263,714
E x p o r ts In 10 m o n t h s ...................... I ............. 5,8 8 8 ,2 4 5 8 ,1 8 2 ,5 6 2 7,2 0 1 ,1 5 2
P o r t s to ck s o n Jun e 3 0 __________________ I
244,542
376,394
262,660
N orth ern spin n ers' takings t o J u ly I ____ 2 ,067,368 2,6 0 3 ,6 5 6 1,770,515
Sou th ern c o n s u m p tio n to J u ly 1 ___: _____ 2 ,1 2 6 ,0 0 0 2 ,1 1 4 ,0 0 0 1,960,000
O verlan d to C anada fo r 10 m o n th s (In­
eluded in net o v e r la n d )________________
104,345
117,598
103,469
B u rn t N orth and S ou th in 10 m o n t h s ___
1,915
S to ck at N o rth , in terior m arkets J u ly 1 __
10,478
16,634
11,003
Game In sigh t d u rin g J u n e _______________
249,431
345 ,035
366,261
A m o u n t o f c r o p in sigh t J u ly 1 _________ 10,127,288 13,203,982 11.009,075
Cam e in sigh t b a lan ce o f s e a s o n ____
624,864
572,754
1 otal c r o p __________________________________
—
1 3 ,828.846 11,58 1,829
A v e ra g e gross w eight o f bales
.
506.05
513 .49
509.10
A v e ra g e net w e igh t o f b a le s ...........................
4 82 .05
489 .4 9
4 86 .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:
NE\V Y O R K — T o L iv e r p o o l— J u ly 1— A r a b ic , 5 , 9 9 7 ..........
Total
T o H avre— J u ly 2 — H u d son , 4,0 8 3
T o B re m e n — J u ly 6 — B a rb arossa . 4 , i 19
.............
T o A n tw e r p — J u ly 1 — F in la n d , 59 fo re ig n
........................... ’ 5 9
T o C op en h agen — J u ly 6 — U n ited S tates, 1 0 0 . .
'
"
T o B a rce lo n a — J u ly 2— N ed erlan d , 1 ,7 9 5 . __ J u ly 6 — B u enos
A ires. 5 5 0 ______________________ _
_
‘
T ° A n tw e r p — J u ly 5— 1T h urlan d C a s t le ','lO o I I I I
N E W O R L E A N S — T o L iv e r p o o l— J u ly 6 — L ou isia n ia n , 4 ,2 0 0
_
„ „ t T o G e n o a — J u ly 1— C itta dl P a le rm o . 1,734
""
S P ^ F P O R T — T o B rem en — J u ly 7— H o lm csld e , 1,074
' '"
S A V A A 1 1 - 7 P M an ch ester— J u ly 1— P o m a r o n , 5 1 9 _________ I " "
B O S T O N — T o L iv e r p o o l— J u ly 2— S a g a m o re , 2 8 . .
T o S U o l i n — J u ly 2— Calvin A u s tin , 3 0 8 . .
'
S E A T T L E — T o J a p a n — J u ly 5— T a m b a M aru, 2 0 0 .........................‘ ‘ I I

bales.
083
’l l 9

4
4

10 0
2 345
' 10 0
4 ,2 0 0
1 734
i ’o 7 4
’5 1 9

28

308

200

T o t a l..............................................................................................................24,866

t

LIVERPOOL.—By cable from Liverpool we have the folJ u n e 17

J u n e 24.
18,000

Sales o f th e w e e k _______b a le s . 31,000
O f w h ich sp e cu la to rs t o o k . _ 1 ,0 0 0
O f w hich e x p o rte rs t o o k ____
___

1 ,6 6 6

S a l e s . A m e r i c a n ____________________ 2 9 , 6 6 6
15,000
A c tu a l e x p o r t .....................
4 ,0 0 0
4,000
F o r w a r d e d --------------------------------- 5 8 ,000
48,000
T o ta l s to c k — E s tim a te d _______ 5 28 ,000
527,000
O f w h ich A m e r ic a n __________ 436 ,0 0 0
4 37 ,000
T o ta l Im ports o f the w e e k ____ 25,000
51,000
O f w h ich A m e r ic a n ................................ 16,00046,0 0 0
A m o u n t a f l o a t . . . ..................... . .1 1 9 ,0 0 0
95,000
O f w hich A m e r ic a n _________ 9 4 ,000
71,000

J u ly 1.

J u ly 8 .
30.000
3.000
7.000
28.000
2.000
57.000
500.000
407 .000
18.000

1 1 ,0 0 0
200
1 ,2 0 0

9,000
1 ,0 0 0

40,000
541 ,000
449 ,000
54,000
48,000
72,000
52,000

12,000

67.000
47.000

each day of the past week and the daily ‘closing prices of
spot cotton have been as follows:
Spot.

10,000

103

Market,
12:15
P. M.

Saturday.

M onday.

Tuesday,

)
)
1

Quiet.

Wednesday. Thursday.
More
demand.

Moderate
demand.

Mid. Upl’ds

7.92

7.95

7.89

S a le s .........
Spec.&exp.

5,000
500

10 ,0 0 0

7.000

Futures.
Market
)
opened
J

H O L I­
DAY.

H O L I­
DAY.

Quiet,
unch. to
2 pts. adv.

4,000
Quiet,
uneh. to
1 pt. dec.

Friday.
Dull.
7.923.000

1 .0 0 0

Quiet at
2 @ 3 pts.
decline.

1 .0 0 0

Quiet at
4 @ 6 pts.
advance.

MANCHESTER MARKEI .—Our report received by cable Market )
Steady at
Weak at Quiet,uncli. Steady at
tonight from Manchester states that the market continues P.
4
)
3 @ 6 pts. to 2 X pts. 4 X m X
X@SX
M. J
pts. adv.
decline.
drcllne.
rts. adv.
quiet for both yarns and shirtings. Stocks of yarns are
accumulating. \Ve give the prices for to-day below and
The prices of futures at Liverpool for each day are given
leave those for previous weeks of this and last year for below. Prices are on the basis of upland, good or ordinary
comparison:
•
^
clause, unless otherwise stated.
Th us, 7 56 m eans 7 56-100d.
32s Cop
Twist.
May
13
20
27
J’ne.
3
10
17
24
July
1
,8

» X lbs. Shirt­ Cot’n
ings, common Mid.
to finest.
Upl’s

8)4 lbs. Shirt­
ings, common
to finest.

32s Con
Tioist.

Cot'n
Mid.
U pls

July 2
to

July 8.

s. d.

10 X
10X

9 @ 10 6
8 )* @ 10 0
8 H ® 10 0

X (® n t f
10I5-16@ l i @
1054 @
11H
109-16® 11 5-16

8 <® 10 6
0 )4 ® 10 5

10

10X
10K

11H
11

8

@ 10 5

8

@10 6

5 )4 ® 10 4
5 @10 4




8.18 7 M
8.04 7J*

8.01 8

8 ) 4 I 8)4 @ 8 9
854 I 8 ) 4 ® 8 10
854 1 9 @ 8 10)4

7.91
8.23
8.09
8 05

854
854
8X
9

3
8
8

H
8)4
I
7.86 854
7.92 8 H

9)4
9 54

9
9
9
9

@ 8 10 M
@ 8 10X
@ 8 11

5.78
5.85
5.88

@8

11

5.83
5.83
5.96
6.06

@9
1 10
10 S 4@ 0

0

6.33

1)4

J u l y ____
J u ly -A u g .
A u g .-S e p .
Sep .-O ct .
O c t .-N o v .
N o v .-D e e .
D e c .-J a n .
J a n .- F e b .
F e b .-M ch .
M c h .-A p r.
A p r.-M a y .
Mav-.Tune

M on .

T u cs .

4
1 2H 1 2 H 1 2 X
p .m . p .m . p .m . p .m .
d.

115H
11?
UH

10JS

Sat.

d.

HO L IDAY.

d.

d.

HOLTDAY.

1 2 )4
p.m .

W ed.

Thurs.

d.
d. I d.
56)4 56 )4 59
53 x 52 V? 53 X
49)4 4 9 )4 51 X 45 H 43 X 44
25
25)4 26 )4 19 X 16 X 17
8 6 ) 4 8 8 ) 4 8 8 >4 84 H 81
83
72 )4 69
69)4 72
65 X 67
60)4 63
56 x 58
63 X 60
57)4 60
53 x 55
6 2 )4 57
56
59
5 9 )4 56
52 X 54
5 5)4 5 8 ) 4 59
55 H 52
53 X
55
58
51 X 5 3
5 8 )4 55
6 54 )4 57 )4 58
52 X
54 H 51
6 54 Y 57 )4 58
52 X
54 X 51
7
7
7
6
6
6
6
6
6
6

Fri.

4 ,1 2 )4
4
p.m . p.m . p.m .
55 X
46 X
20
85 Y
69 X
60 X
57 X
56 X
56
55 X

55
55

01
51 X
23 X
87 X
71 X
62 X
60
58 X
58
57 X
57
57

THE CHRONICLE

104
BREADSTUFFS.

F r i d a y , J u l y 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.
This 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 source says that the prospects for
even half an average crop in that State are now more remote
than ever. Even the most conservative authorities concede
that the springw-heat situation is not very encouraging.
Moreover, reports of damage to wheat in shock by excessive
rains have been received of late from parts of Indiana, Illinois
and Missouri. Excessive rains are said to have damaged
the crop in Roumania. The world’s visible supply showed
a decrease last week of over 8,000,000 bushels, which was
far larger than in the corresponding period last year. The
movement of new winter wheat in this country has not been
as 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
buyers at Chicago. General commission-house 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 heavy, especially if prices are maintained at the
current level. 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
D A I L Y C L O S IN G P R I C K S O F W H E A T F U T U R E S IN NEW YORK.
Sat. M o n . T u er. W ed . T h in s. F r i.
N o . 2 red w in t e r . __________________ H oltH oli- 11094
11094 10 9 )4 11014
J u ly d e liv e ry in e le v a to r . ______ d a y .
d a y . 1099si
11 0 )4 108 94 1 0 9 '4
S e p te m b e r d e liv e ry In e le v a t o r ------107 94 107 94 1 0 6 )4 106!
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN CHICAGO.
S a t.
M o n . T u es. Wecl. T h urs. F r i.
J u ly d e liv e ry In e le v a t o r ___________H ollH o ll- 10194
103 94 103
103
S e p te m b e r d e liv e ry In e le v a t o r ____ d a y .
d a y . 101 94 10294 101 )4 1 0 l 84
D e ce m b e r d e liv e ry In e le v a t o r ____
1 0 3 )4 103 94 1 0 1 )4 102 )4

[VOL. L X X X X I.

D A I L Y C L O S IN G P R I C E S O F O A T S IN NEW YORK.
S a t. M o n T u es.
W ed.
T h urs.
F ri.
N atu ral w h it e
H o ll- H o ll- 4 5 )4 -4 8
46 -4 8 )4 46 -4 8 )4 46 -4 9
W h ite c lip p e d
day.
d a y . 47
-4 9 )4 4 7 )4 -5 0
4 7 )4 -5 0
48 -51
D A I L Y C L O S IN G P R I C E S O F O A T S F U T U R E S IN CHICAGO.
S a t.
t. M o n . T u es. W ed. T h urs. F r i.
40 y*. 40
o li­ H o li­ 40
40 %
oll
J u ly d e liv e ry In e le v a t o r ___________HH
day.
59%
39 %
d’ a y' .
39
39 H
S e p te m b e r d e liv e ry In e le v a t o r . _
40 %
40
40 %
40%
D e ce m b e r d e liv e ry In e l e v a t o r ..

The following are closing quotations:
FLOUR.
0 0 @ $ 3 50 K ansas straigh ts, s a c k . 54 8 5 ® 55 00
3 0 @ 5 50 K ansas clears, s a c k s ___ 4 0 0 @ 4 40
5 0 @ 4 75 C ity p a te n ts ____________ 6 .30 @ 7 10
0 0 @ 4 40 R y e Hour________________ 3 8 5 @ 4 20
6 0 @ 6 05 G raham H our___________4 1 5 @ 4 25
80 @ 5 20 C orn m eal, kiln d r i e d .. 3 0 5 @ 3 20
0 0 @ 4 50
G R A IN
C orn, per bu sh el—
C ents.
W h e a t, per bushel—
N o . 2 m i x e d _______ e lc v .
6 9 )4
N . S p rin g . N o . 1 .................51 24 94
N o . 2 y e l l o w ____ f .o . b .
N o m in a l
N . S p rin g , N o . 2 ................. 1 22 H
N o . 2 w h i t e _____ f .o . b .
N o m in a l
R e d w in ter. N o . 2 _________ 1 1 0 )4
H a rd w in ter. N o . 2 ________ 1 08 94 R y e , per bushel—
N o . 2 W e s te rn ___f .o . b .
78 )4
O ats, per bushel—
Cents.
N o m in a l
S tate and J e r s e y _______
N atural w h ite _________ 46
@ 49
B a rle y — M a ltin g _________
63
@ 67
W h ite c lip p e d ..................48
@51
F e e d in g, c .l . f . , N . Y . _
N o m in a l
M ix e d .................................. N om inal

W in te r, lo w g r a d e s ____ $3
W in te r p a te n ts _________ 5
W in te r stra ig h ts________ 4
W in te r cle a rs___________ 4
S prin g p a te n ts _________ 5
S rln g stra ig h ts_________ 4
S prin g c le a rs ____________ 4

The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
Receipts at—

Oats.

Corn.

Wheat.

Flour.

Barley.

Rye.

bbls.\90lbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. 6 m.56 lbs.
961,300
304.500
1,378,050
10,000
69,600
89,723
139,400
104,000
7,140
135,600
56.500
50,400
175,555
810
128,027
31,835
208,518
16,395
175,280
10,400
174,780
88,670
1,140,980
Minneapolis.
1,500
30,750
83,900
19,000
22,895
12,000
4 324
58,088
49,883
4,385
0,977
6,500
2,100
117,350
283,100
72,742
37,230
136,000
16,800
15,400
220,354
26,000
38,000
14,300
308,600
323,700
Kansas City.

Same wk. ’08

239,96S
340,903
289,050

47,356
37,937
41,580

782,635
859,766
311,934

1,782,790
2,038,034
2,146,416

2,591,992
2,598,702
2,536,247

1,931,749
1,246,490
1,323,756

Since Aug. 1
190 9-1 0... 19,013,228 237,430,889 173,370,193 82,352,315 78,396,890 6,604,677
190 8-0 9... 19,057,952 210,222,114 142,326,178 156,990,360 79,999,772 6,203,720
190 7-0 8... 17,142,591 203,224,061 114,726,990 177,083,680 60,696,189 0,501,930

Total receipts of flour and grain at the seaboard ports for
the week ended July 2 1910 follow:
Flour,
Receipts at—
bbls.
New Y o r k ........... .. 111,251
B o s to n .................
25,728
Philadelphia-------35,195
Baltimore------------25,946
R ic h m o n d ----------3,772
12,748
New Orleans *____
Newport News.........................
G a lv e s t o n ..............................
M obile......................
3,450
Montreal..................
19,001
Total w e e k 1910.. 237,091
S l n c e J a n . 1 1910.-8,317,837
Week 1909 ______
225,138
SlnceJan. I 1909.-7,362,156

Wheat,
bush.
195,000
13,620
35,040
56,686
248
19,000
748,975

Corn,
bush.
134,925
18,756
25,996
44,090
109,492
233,800
30,000

Oats,
bush.
172,075
56,900
5,8,277
45,035
68,126
19,500

Rye>
bush

Harley,
bush.
3,825

2,775
961

1,000

34,460
119,662

685,549

5,305

1,069,169
752,183 1,105,462
10,091
2.775
33,713.152 22,512,796 22,894,634 1841,976 412,789
1,335,821
245,000
622,112
48,569
40,51/
33,340,796 26,638,999 23,010,866 4072,637 376,752

* Receipts do not Include grain passing through New Orleans for foreign ports
on 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 —
New Y ork..............
Boston — ...........
Ph iladelphia-----Baltim ore----------New O rleans-----Newport N e w s ...
Galveston.............
M obile......... ..........
Montreal...............

Wheat,
bush.
111,408
72,552
............

Corn,
bush.
22,285
17,143

Flour,
bbls.
39,923
621
20,000

Oats,
bush.
8,565

2,060

947

40

Rye,
bush.

Harley,
bush.
.........

P eas,
bush,
1,558

600
163,000 13,000
Indian corn futures here have been nominal. At the West
the speculation has been active. Prices there have been
...... 30,000 5,000
irregular, influenced on the one hand by favorable weather
3,450
34,460
279,000
19,000
5 " ‘,6 6 6
and crop reports and on the other by the strength of wheat
Beneficial rains have fallen in various parts of the country,
Total week____ 769,960
268,948 101,941
288,205
--------------1.658
11,837 12,857
.........
70
and the crop news has on the whole been very good. More Week 1909______ 917,076 52,008 100,418
The
destination
of
these
exports
for
the
week
and
since
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 July 1 1909 is as below:
______ Flour---------------------- Wheat---------- --------------Corn-------hand, farmers are not selling freely and cash prices have
Since
SinceSince
ruled firm. Chicago has reported a good shipping demand
IVeek
July 1
July 1
Week
July 1
Week
July 2
1909.
1909.
J
u
ly
2
‘
.
1909.
July
2.
and the stock there has decreased . To-day prices were irreg­ Exports for tceek and
bush,
bush.
bush.
bbls.
bbls.
bush.
since July 1 to—
ular, closing higher on light offerings, an increased cash de­ United
.....................
ingdom ......... 30,269 4,897,630 653,484 58,058,189 ______ 10,988,011
25,832,401 47,143 14,454,925
mand and covering of shorts. The Government stated the C on tin enKt____________
15,682 1,896,103 116,470
374,774 148,816 1,187,56t>
South & Cent. A m e r.. 21,877
858,379 ..............
July condition at 85.4%, against) 89.3% last year.
4,690 71,845 2,269,244
West Indies.................... 34,078 1,427,694 ..............
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D
S a t. M o n .
H o li­
Cash c o r n ____________________________ HHo olillday.
J u ly d e liv e ry In e le v a t o r _ .
_____ d a y .
S e p te m b e r d e liv e ry In e le v a to r

CORN
T u es.
69 U
69 '4
70 H

IN NEW YORK
W ed. Thurs. F r i.
70
69 K
69
69
69 Ys 68 %
70
70 M 69 %

CORN FU TU RES
F a t. M o n . T u es.
olloll- H o li­ 59 H
J u ly d e liv e ry In e le v a t o r ___________HH
61 %
day.
S e p tem b er d e liv e ry In e le v a t o r ____ d adya.y .
59 H
D e ce m b e r d e liv e ry In c le v a t o r .

IN CHICAGO.
W ed. T hurs. F r i.
58 V» 58 y* 58 %
61 %
60 V* 60 Vi
59 Ys 58 Vs 59 Vi

Oats for future delivery in the Western market have fol­
lowed corn 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 corn
and covering of shorts. The Government stated the con­
dition at 82.2%, against 91% in June and 88.3% last year. 14




so

Brit. North Amer. Cols.
Other Countries......... -

----------100,080
..
35
311,102 ........... -

" 185,267

.........
" 1,144

54,899
34,180

T o t a l ..........................101,941 9,490,988 769,960 84,455,261 268,948 28,988,828
Total 1908-09-1______100,418 9,928,019 917,076 107,985,172 52,008 31,064,142

The world’s shipments of wheat and corn for the week
ending July 2 1910 and since July 1 1909 and 1908 are
Corn.

Wheat.
1910.

Exports.

|

Since
July 1.

Since
July 1.

Bushels.
Bushels.
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

Bushels.
359.000
281.000
1,182,000
2,440,000

Bushels.
67,000
892.000
765.000
4,156,000

........

................

8,010,000 4,262,000

4,262,000

5,880,000

Since
July 1.

Since
July 1.

Bushels.
North Amer. 1.130.000
R ussian------ 3.104.000
336.000
Danublan . .
Argentine . . 1.016.000
600.000
Australian. .
In d ia n ......... 1,320,000
64,000
Oth. countr’s

Bushels.
1.130.000
3.104.000
336.000
1.016.000
600.000
1,320,000
64,000

T o t a l ------ 7,570,000

7,570,000

Week
July 2.

1909.

1910.

1909.
Week
July 2.

.....

July

THE CHRONICLE

9 1 91 0 .)

105

The quantity of wheat and corn afloat for Europe on dates expense of values, prices can be quoted generally steady.
mentioned was as follows:
Towards the close of the week an improvement in the in­
quiries for export is noted in the heavy brown goods division.
Corn.
Wheat.
Bleached cottons are without particular feature this week, a
United
steady business of moderate proportions coming forward on
United
Total.
Kingdom. Continent.
Total.
Kingdom. Continent.
the new basis adopted at the beginning of the month. Such
coarse colored goods as denims, tickings, &c., are slow, and
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
June 30 1910-. 23.920.000 8.320.000 32.240.000 0,035,000 7,735,000 13.770.000
although not quotabh' changed in price, buyers occasionally
June 23 1910-. 24.080.000 9.920.000 34,000,000 5.095.000 0,375,000 12.070.000
secure slight advantage. Staple prints and ginghams are
July 1 1909.- 20,000,000 11,880,000 34.880.000 9.520.000 12.495.000 22.015.000
July 2 1908.. 19.040.000 11,040,000 30.080.000 5.805.000 11.730.000 17.595.000
without alteration of moment. In finer yarn fabrics, both
printed and woven patterned, orders for immediate delivery
The visible supply of grain, comprising the stocks in are light, but agents report a fair demand coming forward for
granary at principal points of accumulation at lake and 1911 season. Fall River mills have practically been idle this
seaboard ports July 2 1910, was as follows:
week, but notwithstanding this, 38^-ineh 64 squares have
AM ERICAN G RAIN STOCKS.
further declined, business being done at 4%c., fair sales
Barley,
Wheat,
Corn,
Oats,
Rye,
Narrow 64 squares attract little atten­
bush being made thereat.
bush.
bush.
bush.
bush.
117,000
_______
217.000
268,000
tion and continue nominal at 4c.
1,000
B o s t o n ------ . _______
159,000
60,000
19,000
15,000
Philadelphia _ ............
367,000
9,000
34,000
DOMESTIC COTTON GOODS.—The exports of cotton
Baltim ore-----............
134,000
208,000
19,000
199,000
goods from this port for the week ending July 2 were 1,997
New Orleans- ______
11,000
266,000
109,000
______
35,000
packages, valued at $156,006, their destination being to the
195,000
B u ffa lo........... .............
29,000
737,000
541,000
380,000
points specified in the table below:
T o l e d o ...........
4,000
............
132,000
64.000
34,000
Detroit ------Chicago......... .
Milwaukee - .
D u lu th ______
Minneapolis ..
St. L o u is ____
Kansas C it y ..
Peoria_______
Indianapolis..

------— 1910:---------

18,000
429,000
94,000
1,410,000
272,000
97,000
S0.000
144,000
70,000
100,000
181,000

2,000
14,000
0,000
107,000
M3,000
9,000

4,000
49.000
267.000
488.000
03.000

26,000

224,000
20,000

5,224,000
4,245,000
Total July 2 1910.-12,034.000
5,014,000
4,792,000
Total June 25 1910-. IS, 143,000
3,210,000
Total July 3 1909- - 9,750,000
0,281,000
C A N AD IA N G RAIN STOCKS.
Wheat,
Corn,
Oats,
bush.
bush.
bush.
521,000
- . 1,111,000
137,000
. - 1.GG7.000

378,000
400,000
157,000

1.143.000
1.448.000
049.000

.............
133,000
............. 1,145,000
--------305,000
........... 2,100.001)
............. 5,125,000
............
280,000
- .........
710,000
...........
4,000
.............
91,000

On Canal and R iv e r ..-

208,000

149,000
1.104,000
259,000
147,000
83.000
220,000
714,000
46,000
300,000
579,000
300,000

15,000

N ew Y ork to J u ly 2—
G reat B ritain _
O th e r E u r o p e . . ...............
C h in a _____ _
In d ia _____________
A r a b ia _____

W eek.
53

----------1909---------S in ce
W eek . J a n . 1.
•}
602
7
656
103,194
8,700
1,867
17,070
632
7,180
754 20,697
16
887
331
7,542
952 26,474
666
9,5 1 9

J a n . 1.
1,118
587
3 3,690
7,198
5,654
2,004
14,259
950
4,756
25,672
22,119

A fr ic a ______ I ’ l l " ' ” ” I I I I I ’ I I ’
171
W e s t In d ie s ____ I I _______ II
I
I
540
M e x i c o _____
4
C en tral A m e r ic a _______________________________
_
118
S o u th A m e rica _
______ _____ _____
9
33
933
O th er co u n tries . . _ . _________
178

Total .................... .................................. .. 1,997
1,997 118,007

5,227

The value of these New York exports since Jan. 1 has been
101.000 $8,333,002 in 1910, against $11,125,554 in 1909.
WOOLEN GOODS.—Further new lines of men’s wear lowgrade fabrics for next season have been opened this week
581,000
101,000 without stimulating interest on the part of buyers. Progress
Total July 2 191 0.. 4,595,000
137,000
521,000
made up to the present time proves generally disappointing.
113.000
Total Juno 25 1910
4,920,000
04,000
572,000
Total July 3 1909-. 2,674,000
145.000
99,000
498,000
Higher-grade goods for next season have still to be shown,
SUM M ARY,
and under prevailing conditions may not make their appear­
Wheat,
Corn.
Barley.
Oats,
llye,
ance for some few weeks to come; meanwhile the price
bush.
bush.
bush
bush.
Am erican-----......... .12,034,000
5,224,000
4,245,000
378,000 1,443,000
remains unchanged. Business in dress goods of all
C anadian____ - - _______ 4,595,000
101.000 situation
137,000
521,000
grades is quiet and there is little demand for cloakings. The
Total July 2 1910. .16,629,000
5,3(11,000
4,760,000
378,000 1.544.000
strike of cloak-makers, referred to above, adds further
Total June 25 1910 . -18,068,000
5,078,000
5,364,000
400,000 1.501.000
Total July 3 1909.-12,430,000
E 3 ,ooo uncertainty to both the dress goods and cloakings outlook.
3,309,000
0,779,000
157,000
T1W lv iii 1 1 11\ U s x l
H U U D o.
n
. n . - / u c u n u tu c iu iiiiu if? r e AGRICULTURAL DEPARTMENT’S REPORT ON
CEREAL CROPS, &c., TO JULY 1.—The Agricultural ported coming forward for seasonable lines in the various
Department issued on the 8th inst. its report on the cereal departments in the shape of small orders, well distributed.
For forward importation the demand is quiet. Silks and
crops for the month of June as follows:
linens are firm in price, but fine cotton goods show some irreg­
T h e C rop R e p o rtin g H oard o f the B u reau o f S tatistics o f the U n ited States
D ep a rtm en t o f A g ricu ltu re estim ates, fro m the rep orts o f j th e corresp on den ts
ularity . There has been more business doing in burlaps than
an d agen ts o f the B u rea u, as follow s:
for some time past, but the demand has been met by sellers
T h e prelim in ary estim a te o f the area o f co rn pla n te d Is 1 1 4 ,083 ,00 0 acres,
an Increase o f 5 ,312,000 as co m p a r e d w ith the final estim a te o f last y e a r ’ s at prices previously prevailing.
acreage.
Importations and Warehouse Withdrawals of Dry Goods
T h e a vera ge co n d itio n o f the co rn c r o p o n J u ly 1 w as 8 5 .4 ,as c o m p a re d
w ith 8 9.3 on Ju ly 1 1909, 82.8 on J u ly 1 1908 an d 80.2 o n J u ly 1 1907.
s*
>
H
M
T h e a vera ge c o n d itio n o f w inter w h eat o n J u ly 1 o r w hen h a rve ste d w as,
"
H go
5-H
-3 5 p^ w
8 1 .5 . c om p a red w ith 80 last m o n th , 8 2.4 a t h arvest 1909, 8 0 .0 in 1908
o
o
o
<PP
o
P
,
an d 78.3 In 1907.
p
a
2. £» E 3 2. 2
T h e a vera ge co n d itio n o f spring w heat o n J u ly 1 was 0 1 .6 , as co m p a r e d
*- QO. p—
I I
p
o
i B 1°
B i pi a
w ith 92.8 last m o n th , 92.7 o n J u ly 1 1909, 8 9.4 o n J u ly 1 1908 an d 87.2
; c
a
3 o'
3 i o
S*. a
1' ' B
C
o n J u ly 1 1907.
O i i i !1 H
o
>
1
r
p
H
ii <
r
»
p
i
i
i
i ' i ®
e
n
T h e a vera ge c o n d itio n on J u ly 1 o f sp rin g an d w in ter w h eat c o m b in e d
G
O
c
c
G
Oi | 1 : s
t
/a
X
w as 7 3 .5 % , again st 8 0 .5 % o n J u ly l 1909, 8 3 .0 % on J u ly 1 1908 an d
1
1
1
si
H
. . . &
1
1
I 1| o
8 1 .0 % on J u ly 1 1907.
n
Rye.
bush.

Barley,
bush.




Y o r k , F r id a y N ig h t, J u ly

-1to
Cl 00
Os >U

O Cl

© © tj © ©

•c* © it* © co
© O © -J Co

oo o
Oo © © © ©
h* ->I Oo 05 iL
© o
Os t\s I tJ
t\3 © ©

to t -

© *d

oOs ©
©

^

•—

iU Cn 5s O
-O -Go
-Go- •
Cl ©

V* It*, -d ©
© ©
COoo
CO© it* © *d

C (Ur .

to

H

to OS to © OS

o

Os © to © C

<

© os © to c

a

to V* Vi "©to

4* OS © © »-“

Ct © »* ** oo

to pt*. C: ^ H o

H
0

Vs ©"©•(* 4
O0© ci to J

a
a

s
to os •-* © “j

O l\S *d ® it» © ©
Os O 00 Cl **■ ©

oo

0
0Os >-»Oo C
OS“d ct "d <

O

MOM©*

GO

>

to to
© © -i

MOMOM

Cl ©
-d ©
OS **d

oo o co © Vj
Os co C it* Oo
to
►-* os to

«-‘ 0s to >t*- ci

4* © -l © to

■d Os 00 © Os

o

e
©
«4©
©
to
COo
-1*d
b
©
oo O
©to

!-*>-» CO © c»
o - I 00 P-* C
4* Os © it* O

C1 to to ©

>-* oo **• 00 --I
*d © © 00 ©

Cl it*. -d ©

*“* © to *d ©

©0003©£»
© to ■d OS © to OS
© -J © © © Oo co
•d to © © ^1 -J CO
** V
s *d V* © CO©
oe
©
© pU © © CO03 ©
^ MO «

© © © oe

© ©© ©
os ►
-* © ©

T

w
a
H
d

- Sc

to © © t
©CO-dl-*to o © to c
to >U© O c
^ '1 O O pi
06 © © *—* t

O to H- © c
"d .U to Cl Cl

a g?

a

00 -1 OS •-* »

I— «D O S©

to o® ©

1111:

00 © o it» Ci

V* Vs rf- V* Vs a
Ul
I-*

os ©

1

~
c
a
H
w
H
O it» M M
OS Os
>U© © © co
5*
© .u © OS OOCl to
H
H
a :is ,
a
“
e
a
©
oo ©
to oo os -d .u
a
to
© co
to © © ci j*
6 M I OJ i . 00© «d © 00 a
>
a
* ■ , CSM
© © Cl
>
©
to 00
OS 00 Cl “0 00
r

oooo co a
©

: : i

Total

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 arc 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
N ew

is

Cotto
Silk .
Flax,
lscella

anufa<
Wool
Cotto
Silk _
Flax

THE DRY GOODS TRADE.

a

: f

T h e a m o u n t o f w h eat rem ain in g o n farm s Is estim ated at a b o u t 3 8 ,7 3 9 ,0 0 0 bushels, as com p a re d w ith 15,002,000 bushels o n J u ly 1 1909.
T h e a vera ge c o n d itio n o f o ats on J u ly l w as 8 2 . 2 % , as co m p a r e d w ith
0 1 % o n June 1 last, 8 8 .3 % o n J u ly 1 1909, 8 5 .7 % 0 n J u ly 1 1908 an d
_________
.
8 1 % o n J u ly 1 1907.

^ M d tsc

oo a> © © c
W © © f
© to OS 00 CJ

; H
w
a

© © Ja. © c
© © h-* © s

a
o

H
a
M
K
>

a

a
M

>
to -d © 00 to
O0 © o os ©
Cl to © © 1-1

to © © © ©

to ©

to © to ©
*© m « V ‘o

©
■©d©© CI
© ►©-*©

>-* © ^ OS to
C* © OO© »-»
Vj 0S*©

00

oo M to ©-O
•“*© IOto “d
*d ©

CV2 I

g, o
3•

.

sa

ft-, ~

to to
-fc. to ©

O ® rfk O ©

© oo oo oo © •

"■u-bo bo bs Vi

1-1
ocs ©©©o ©h—
to

3
a

*”*
h*

to O

• 50

'

H
a'e-t
^>
2

106

THE CHRONICLE

S T ftT g

less than the total vote polled at the same time in the general

CITY

X3 £ ? / t rpT]W£WT, election held in the city. The case has been appealed by

<&hva

S ite
PUBLISHED W E E K L Y .

T e r m s o f S u b s c r ip t io n — P a y a b le in A d v a n c e
F o r O n e Y e a r ............................................................................................................... <610
F o r S ix M o n th s .............................................................................................................
0
E u ro p e a n S u b s c r ip tio n (in c lu d in g p o s t a g e )......
18
E u r o p e a n S u b s c rip tio n s ix m on th s (in c lu d in g p o s ta g o ) ...........................
7
A n n u a l S u b s c rip tio n in L o n d on (in c lu d in g p< s t a g e ) .................................. £ 2
S ix M o n th s S u b s c rip tio n in L o n d o n (in c lu d in g p o s t a g e ) ...........................£ 1
C a n a d ia n S u b s c rip tio n (in c lu d in g p o s t a g e ) ................................................... $ 1 1

00
00
00

50
14 s.
1 1 s.
50

S u b s c r i p t io n i n c l u d e s f o l l o w i n g S u p p l e m e n t s —

B ink and Quotation (monthly)
I S tate and City (semi-annually)
Railway and I ndustrial (quarterly) E lectric R ailway (3 times yearly)
R ailway E arnings (monthly)
|B ankers ’ Convention (yearly)
T e r m s o f A d v e r tis in g — P e r In c h S p a c e
T r a n s ie n t m a tte r p e r in c h s p a c e (1 4 a g a t e l i n e s ) ........................................... $4 20
f T w o M o n th s
(S t im e s )................................ 22 00
S tan d im ? Ttn«!nr>a« Cnr.ta ) T h r e e M o n th s (1 3 t im e s ) ................................ 29 00
s t a n d in g B u s in e s s C a rd s < s i x M o n th s
(2 o t im e s ) ................................ 50 00
(. T w e l v e M o n th s (52 t im e s ) ...................... ........ 87 00
C H I C A G O O F F I C E — P l in y B a i t le t t ,r .l3 M o n a d n o c k B lo c k ; T o l. H a r r is o n 401
L O N D O N O F F I C E — E d w a r d s & S m ith , 1 D r a p e r s ’ G a rd e n s, E . O.
W IL L IA M
II. D A N A C O M P A N Y , P u b lis h e r s ,
P. O. Box 958.
F r o n t , P i n e u iu l D c p c y s t c r S t s .,
N ew Y o rk .
M U N IC IP A L

BOND

SALES

IN

JU N E.

T h e fa llin g o ff in th e d e m a n d fo r m u n ic ip a l
w a s s o n o t ic e a b le in t h e M a y t r a n s a c t io n s
out June.
c e s s fu l,

V e r y fe w

and

w h ere

b o n d s w h ic h

c o n tin u e d th r o u g h ­

o ffe r in g s o f la r g e b o n d is s u e s w e r e s u c ­
th e

m u n ic ip a litie s

d id

succeed

in

d is ­

p o s in g o f th e ir s e c u r itie s th e p r ic e s r e a liz e d w e r e , a s a r u le ,
lo w .

T h ere

b o n d s in

w ere

June

in d e e d

th a n

in

any

m ore

a b o r tiv e

m o n th

s in c e

a tte m p ts

to

I n t . R a te . D a te O ffe r e d .
4 'A %
Jun e 4
4%
June 0

4%
4%
4 V i%

4%
5%
4%
5%
4M %
4 lA %
4%

M o n th o f
J u n e.

F o r the
S ix M o n th s.

5 1 9 ,670 ,12 6
29,31 8 ,7 4 2
9 ,7 0 4 ,9 2 5
16 ,3 8 5 ,0 6 5
12,792,308
15,007,441
16 ,3 5 9 ,3 7 7
1,888,935
1 2 ,2 4 0 ,0 0 0

_

1 9 0 0 _______
1899.............
189 8_______
1 89 7_______
189 6_______
189 5_______
1891
189 3_______
1 89 2

_

5 15 8,45 3,4 14
2 0 7 ,1 2 5 ,3 1 7
1 69 ,082 ,57 9
1 1 5 ,347 ,88 9
102 ,3 3 8 ,2 4 5
1 11 ,723 ,05 4
137,809 ,15 5
79,57 6 ,4 3 4
8 7 ,6 2 8 ,3 9 5
61,22 3 ,0 6 0

Jun o
Jun e
Jun e
June
June
June
Jun e
Jun e
Jun e
June

6
1
1
13
13

20
20
30
7
27

F o r the
S ix M on th s.

577,943 ,66 5
63.345.376
4 4 ,078,547
73.27 5 .3 7 7
43,176,904
56,991,613
66,420,992
32 ,6 6 3 ,1 1 5
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.—L e g i s l a t u r e A d j o u r n s . —The Legislature of
this State ended its 1910 session^on 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.—

C i t y R e s tr a in e d f r o m I s s u i n g T r u n k S e w e r

—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
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

B on d s.




New York City.—Assessed V a l u a t io n s f o r 1910.—The
Board of Tax Commissioners on July 5 sent to the Board of
Aldermen for their approval the assessment rolls of real and
personal property for 1910. The total assessed valuation for
the five boroughs is $7,410,837,499, of which $7,044,192,074
consists of real estate (including $87,447,075 real estate of
corporations and $405,409,000 special franchise assessments)
and $372,044,825 in personal property. There is an increase
of $237,012,930 in the real estate values, while personal
property is assessed at $70,070,030 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 $1.70+ on the $100 valuation;
last year it was $1,078. The following table presents by
boroughs the assessment of each separate class of property
for this year and for 1909:
REAL ESTATE.
1910.
1909.
(Ordinary real estate.$4,390,793,935 54,202,553,086
Manhattan (Corporate real estate.
25,110,750
17,593,400
(Specialfranchises____
328,012,100
334,299,800
(Ordinary real estate.
442,467,394
410,296,283
B r o n x ------(Corporate real estate.
31,214,425
29,198,325
(Special franchises____
20,076,100
23,209,400
(Ordinary real estate. 1,286,374,421 1,239,724,040
16,109,300
B rooklyn...(Corporate real estate.
17,443,900
(Special franchises____
100,218,200
98,976,500
"
307,950,560
282,457,155
(Ordinary
real- estate.
10,778,750
11,695,600
Q u e e n s___(Corporate real estate.
14,876,700
(Speclal franchises____
14,917,800
62,321,815
(Ordinary real estate.
63,749,689
2,145,650
R ich m on d .( Corporate real estate.
1.982.400
(Special franchises-----2,639,500
2.185.400
Grand Totals o f Real Estate by Boroughs.

Boroughs—

s e ll

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 $17,012,862.
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.
M o n th o f
J u n e.

the city.

Manhattan.

th e p a n ic o f 1 9 0 7 .

S o m e o f t h e m o r e im p o r t a n t is s u e s t h a t w e r e o ffe r e d w it h o u t
s u c c e s s la s t m o n t h w e r e a s fo llo w s :
N a m e o f P la c e —
A m o u n t.
0 ,0 0 0
S e a ttle , W a s h ____________________ $1,50
51,50 0,00
M in n e a p o lis, M in n --------------------------650,000
650 ,000
6 00 ,000
S t a t e o f M is siss ip p i_______________
600,000
C le v e la n d S c h o o l D is tr ic t, O h io ____
500,000
R o a n o k e , V a _____________________
500,000
500 ,000
(2 5 0 ,0 0 0
G a lv e s to n C o u n ty , T e x ----------1250,000
281 ,000
C o v in g to n , K y ________________________
L a w to n , O k la ___________________
2 80 ,000
P o r ts m o u th , V a ________________
250 ,000
234 ,000
B a y o n n e , N . J ________________________
225 ,000
M u sk in gu m C o u n ty , O h io _____

1 9 1 0 ______ 5 1 7 ,0 1 2 ,8 6 2
1 9 0 9 .......... 6 2 ,1 2 4 ,4 5 0
1 9 0 8 _____ 3 1 ,6 0 6 ,0 6 4
1 9 0 7 _____ 2 1 ,3 9 0 ,4 8 6
1 9 0 6 _____ 2 1 ,686,622
1 9 0 5 _____ 19,016,754
1 9 0 4 _____ 2 4 ,4 2 5 ,0 0 9
1 9 0 3 _____ 1 6 ,926,619
1 9 0 2 _______ 28 ,4 1 7 ,1 7 2
1 9 0 1 _____ 13 ,4 6 8 ,0 9 8

[VOL. L X X X X I .

Brooklyn.

Bronx:

Queens.

Inc. or Dec.
Inc. $128,240,849
Inc.
7,517,350
D ec.
6,287,700
Inc.
32,171,111
Inc.
2,016,100
Dec.
3,133,300
Inc.
46,650,381
Inc.
1,334,600
Inc.
1,241,700
Inc.
25,493,405
Inc.
916,850
Inc.
41,100
Inc.
1,427,874
Dec.
163,250
D ec.
454,100

Richmond.

Totals.

$
$
$
$
S
$
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
In c..

129,470,499 31,053,911

810,524

237,012,930

PERSON AL P R O P E R T Y .
Personal -Corporation Personalo f Estates. Resident.
Non-Res.

-N on-R es. PersonalOrdinary. Saxe Law
M a n h a tta n S
•$
s
s
$
s
1910_____ .116,656,801 60,441,747 71,527,200 26,661,950 18,900,990 3,841,795
1909......... .130,610,059 75,212,335 66,565,075 29,555,875 25,328,895 4,894,395
B ron x—
89,560
5,453,315
1910...........
863,935 1,309,740
90,410
190 9.......... 11,594,696
998,505 1,270,060
B r o o k ly n 52,500
537,850
1910—
43.614,020 8,386,455 6,741,000
153,500
598,000
1909............ 67,060,580 10,386,300 6,133,810
Q ueens3,000
793,950
1910—
432,380
4,129,150
____________
868,975
7,498,875 1,305,350
1909...........
R ichm ond—
10,000
417,400
1910...........
522,092
1,257,995
—
344,800
1,950,685
857,675
1909...........

B oroug hs —

Ordinary
Personal.

49,226,681 26,451,355

T otal 1 9 1 0 ... 171,111,281 70,646,609 80,789,290 27.302:360
Total 1 9 0 9 ... 218,750,895 88,760,165 75.188,720 30,244,285
......................
......................
5,600,570
Increase .........
2,941,925 6,427,905 1,153,600
......................
Decrease......... 47,639,614 18,113,550
Grand Totals o f Personal Property by Boroughs.
Manhattan.
Bronx.
Brooklyn.
Queens.
Richmond.
Totals.
1910
$298,030,483 $7,716,550 $59,331,825 $5,358,480 $2,207,487 $372,644,825
1 9 0 9 .. . 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 $70,676,030
G R AN D TO TALS B Y BOROU GH S OF R E A L AND PE RSON AL
PROPERTY.
Manhattan.

Brooklyn.

Bronx.

Queens.

Richmond.

Totals.

$
S
S
$
$
$
1910.. 5,041,947,268 501,474,469 1,463,368,346 339,922,440 70,124,976 7,416,837,499
1909.. 1,946,648,920 176,663,679 1,439,142,030 317,785,805 70,260,125 7,250,500,559
Inc . .
Dec....

95,298,348 24,810,790

Philadelphia, Pa.—

24,226,316 22J136,635

166,336,940
’ 135’,149

S ta te S u p r e m e C o u r t S u s t a i n s

V a lid ity

$5,000,000 L o a n . —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.
C o m m o n P l e a s C o u r t to H e a r $8,000,000 L o a n S u i t i n
S e p t e m b e r . —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 10 (V. 90,
p. 1380) will be heard by the Court of Common Pleas No. 4
in September.
Pittsburgh, Pa.—B o n d s D e c la r e d I lle g a l b y S t a t e S u p r e m e
C o u r t . —In an opinion written by Justice J. Hay Brown,
handed down in Philadelphia on July 1, the State Supreme
Court decides that the $0,775,000 bond issue for various city
improvements, voted last November, is invalid. The Court
says in part:
of

" T h e co n s titu tio n a l re q u ire m e n t Is th a t m u n icip a l Indebtedness Is t o
he In crea sed to an am o u n t e x ce e d in g 2 % u p o n th e assessed v a lu a tio n o f
ta x a b le p ro p e r t y o n ly w ith th e assent o f th e ele cto rs at a p u b lic e le ctio n . In
such m a n n er as s h a ll be p r o v id e d b y la w , and the s ta tu to r y p ro v is io n Is
th a t b e fo r e su ch an e le ctio n ca n be a u th o riz e d b y th e m u n icipa l a u th o rities;
th e y m u s t first a c t b y g iv in g e x p re ssio n , b y ‘ o rd in a n ce o r v o t e ,’ o f their
desire f o r th e Increase.”
,
" A H this w as den ied th e ele cto rs o f th e C ity o f P ittsbu rgh In th e present
e a se .
C ou n cils u tte rly Ignored their d u t y o f expressin g to th o e le ctors
t h e ir desire th a t th e In debtedness sh ou ld be Increased an d p lu n ged In
m e d la s res b y passing an ord in a n ce a u th o rizin g the subm ission o f the
q u e s t io n o f th e p r o p o s e d Increase to th e e lectors at th e general e le ctio n held
N o v . 2 190 9.
F r o m o n e end o f this o r d in a n c e to th o o th e r there Is t o bo
f o u n d n o ex p re ssio n o f th e w ish o r desire o f C ou ncils as to th e p ro p o s e d In-

J u ly

THE CHRONICLE

9 1910.

crease.
P u rp osely o r oth erw ise, t h e y a v o id e d the re sp o n sib ility p laced
u p on them b y law . W h a t It requ ired them to d o before th e y co u ld su bm it
the q u estion o f Increase to the e lectors, th e y failed to d o , an d the o rd in an ce
o f S e p t. 24 1909 m ust fall. T h e fo u n d a tio n necessary fo r It had n ot been
laid .
It Is n ot t o be ta k e n as e v id e n c e o f th e desire o f Cou ncils. T h a t
m u st h a v e been expressed b y separate and Indepen dent a ctio n ; H o y v s.
th e C ity o f E a st S a g in a w , c t al.
“ T h e va riou s o th e r qu estion s raised b y th e com p la in a n t need n o t be n o w
c on s id ered . T h e a u th oritie s o f th e C ity o f P ittsbu rgh m a y o r m a y n o t, b y
ord in a n ce or v o t e , s ig n ify their desire to Increase the c it y ’ s Indebtedness,
a n d , If th ey s h o u ld , It Is n ot fo r us n ow to a c t as an a d v is o r y b o a rd to th em ,
tellin g th em w hat th ey m ust su b se q u e n tly d o . T h e y k n o w w h a t o b je c tio n s
h a v e been raised b y the c o m p la in a n t, w hich m a y be renew ed b y them or
oth er ta x -p a y e rs If su bsequ en t m unicipal a c tio n o n th e sam e s u b je c t should
be o p e n to th e sam e o b je c tio n s .”
See V . 90, p . 1313.

107

A u t h o r i t y , C h apter 395, A c t s o f 1908.
D e n o m in a tio n $500.
D a te
J u ly l 190 8.
In terest se m i-an n u ally at the C o u n ty C om m issioners’ o ffice
in D e n to n .
M a tu rity $1,000 y e a rly o n J u ly 31 fro m 1911 to 1918 Inclu sive.
I . L . D u kes Is Clerk o f th e C o u n ty C om m issioners.

Claremont, Los Angeles County, Cal.— B o n d S a l e . —The
$12,500 street, $3,500 city-hall-improvement and $4,000 fireapparatus bonds offered on June 6 and mentioned in V. 90,
P- 1377, were awarded, it is stated, to Barroll & C o . of San
Francisco at par and accrued interest.
Clifton School District No. 2, Kan .— B o n d S a l e .— This
district sold $15,000 43^% school-house bonds last month to
Porto Rico. — B o n d S a l e .—On July 7 the $425,000 4% the State of Kansas at par. Bonds are dated July 1 1909 and
10-17-vear (optional) gold registered bonds, a description of mature July 1 1924, subject to call at any interest period.
which was given in V. 90, p. 1376, were awarded as follows:
Clymer School District (P. O. Clymer), Indiana County,
$5,000 to Edward B. Folse of Oak Ridge, La., at 103.125 Pa.— B o n d S a l e . —This district, we arc informed, has
and accrued interest and the remaining $420,000 to the Na­ awarded $8,000 5% bonds dated June 1 1910 to the Wash­
tional City Bank of New York City and the Royal Bank of ington Investment Co. of Pittsburgh.
Canada at San Juan at their joint bid of 100.0626 and ac­
Coleraine, Itasca County, Minn.— B o n d S a l e — On June 30
crued interest. The bids received were as follows
the $40,000 5% coupon jail, village-hall and fire-hall bonds
E d w a rd B . F olse. O ak R id g e , L a . (fo r $3,000)
103.125
dated July 1 1910, a description of which was given in V. 90,
N ation a l C ity B a n k , N ew Y o r k , an d R o y a l B a n k! (all o r a n y p a r t). 10 0.0620
o f C anada a t San Ju n e, P . R _______
_ _ j
p. 1693, were awarded to the Commercial Investment Co.
M uller, Schall & C o ., N ew Y o r k (fo r $150,000)
100.05
of Duluth, represented by G. A. Elder, at par and accrued
A ll bidders offe r e d a ccru e d Interest In a d d itio n to th e ir bids.
interest. A bid of par and interest was also received from
S. A. Kean & Co. of Chicago.

Bond Calls and Redemptions.

Conecuh County (P. O. Evergreen), Ala.— B o n d

O f fe r i n g .,

St. Francis Levee District, Ark.—B o n d C a l l .—On Jan. 1
Proposals will be received until 12 m. July 15 by F. j.
1911 this district will redeem all bonds issued under the Dean, Judge of Probate, for $20,000 of the $100,000 5%
authority of an Act of the General Assembly approved coupon l’oad-improvement bonds voted on June 18. See
March 13 1899.
V. 91, p . 51.

Bond Proposals and Negotiations this week
have been as follows:
Albion, Erie County, Pa.—B o n d S a l e . —The Citizens’
Bank of Albion was the successful bidder on June 28 for the
$28,000 5% municipal-water-plant bonds due $1,000 yearly
on July 1 from 1912 to 1939 inclusive and described in V. 90,
p. 1690. The securities are subject to call after July 1 1922.
Alton, 111.—B o n d O f f e r i n g . —Proposals were asked for
until 12 m. yesterday (July 8) by Win. P. Boynton, City
Comptroller, for $21,000 4% bonds.
D e n om in a tion $500.
D a te J u ly
C ity T rea su rer’s o ffic e .
M a tu rity
1915, 1920 and 1925 and $6,0 0 0 on
w as n o t k n ow n to us at th e h ou r o f

I 1910.
In terest s em i-an n u ally at the
$5,0 0 0 on J u ly 1 In each o f the years
J u ly 1 1930. T h e result o f tills offerin g
g o in g to press.

A u th o r it y C h apter 11, S ection s 158 to 174. C od e o f A la . o f 1907.
D e­
n o m in a tio n $ 1 ,0 0 0 .
D ate J u ly 1 1910.
Interest se m i-a n n u a lly at th e
H a n o v e r f<atlonal B ank In N ew Y o r k C ity.
M a tu rity 30 years.
B on d s
are e x e m p t fro m all ta x e s .
C ertlllcd ch e ck fo r $500, p a y a b le to th e J u d g e
o f P ro b a te , Is re q u ire d .

Court House Township School District No. 1, Chester
County, So. Caro.— B o n d S a l e .— The $15,000 4>£% 20-40-

year (optional) coupon school-building bonds offered on
June 24 and described in V. 90, p. 1626, were disposed of at
par to local banks.
Cuyahoga County (P. O. Cleveland), Ohio.— B o n d

S a l e .—

The $3,500 4>^% coupon Independence Road No. 2 improve­
ment assessment bonds, bids for which were rejected on Apr.20
(V. 90, p. 1191), have been sold to Otis & Hough of Cleve­
land for $3,567 45 (101.927) and accrued interest.
Danbury Township (P. O. Lakeside), Ohio.— B o n d

O ffe r ­

—Proposals will be re­ i n g . —Proposals will be received until 12 m. July 9 by G. A.
Pettibone, Clerk, for $8,400 5% coupon macadam-road
ceived until 3 p. m. July 11 by E. E. Prohazka, City Comp­ bonds.
troller, for $17,000 5% local-improvement bonds.
D e n o m in a tio n $ 1 ,0 0 0 , e x c e p t on e b o n d fo r $400.
D ate J u ly 9 1910.
In ­
Bay City, Mich.—B o n d

O ffe r in g .

D e n o m in a tio n $ 1,000.
D ate J u ly 15 1910.
In terest se m i-a n n u a lly In
N ew Y o r k C ity .
M a tu rity $10,000 J u ly 15 1913 and $7,000 J u ly 15 1916.
C ertified ch eck fo r $500, p a y a b le t o the C ity C o m p tro lle r, Is r e q u ire d . P u r ­
ch aser to p a y accru ed Interest. P r o o fs o f le g a lity to be fu rn ish ed the s u c­
cessful bid d er.

Bogue Hasty Drainage District, Bolivar County, Miss.—

terest se m i-a n n u a lly at the T o w n sh ip D e p o s ito r y .
M atu rity $1,000 y e a r ly
on J u ly 9 fro m 1911 t o 1918 Inclu sive an d $400 J u ly 9 1919.
B o n d s are
n o t ta x a b le . C ertified ch eck o n a ban k in O ttaw a C o u n ty fo r $250, p a y a b le
t o th e T o w n s h ip T ru stees, Is re q u ire d .
P u rch a ser to p a y a ccru e d Interest.

Drummer Township High School District, Ford County,

he S45,000 5% Sj^-year (average) high—The Bank of Commerce & Trust 111.—B o n d S a l e . —4
and site-purchase bonds voted on June 7
Co. in Memphis is offering for sale $160,000 6% 1-20-year school-building
(V. 90, p. 1626) were recently sold to E. II. Rollins & Sons
(serial) bonds.
and the Harris Trust & Savings Bank, both of Chicago, for
D e n om in a tion $50 0.
D ate A p ril 1 1910. In terest a n n u a lly a t th e B ank
$45,375 (100.833) and accrued interest—a basis of about
o f C om m erce & T ru st C o. In M em phis. T o ta l d e b t , this Issue.
Boston, Mass.—T e m p o r a r y L o a n s . —In addition to the 4>s%- Purchasers to furnish blank bonds. A bid of
$45,365 was also received from John Nuveen & Co. of Chi­
loans of $900,000 and $700,000 mentioned in Y. 90, p. 1568, cago.
The bonds are dated July 1 1910.
this city also negotiated loans of $1,000,000 and $450,000
Elgin Township Union School District No. 46 (P. O.
during the month of June. The two first mentioned issues
are dated June 7 1910 and the two latter issues arc dated Elgin)> Kane County, 111.—B o n d S a l e . —This district, it is
stated, awarded the $70,000 4% school bonds offered on
June 30 1910. They are all payable next November.
Bowbells, Ward County, No. Dak.— Rends V o t e d .— The June 24 and described in V. 90, p. 1693, to N. W. Halsey &
electors of this district on June 20 authorized the issuance of Co. of Chicago for $70,100, less $2,847 50 for expenses.
$4,000 4% 20-year water-works bonds by a vote of 80 to 18. Maturity $15,000 vearlv on July 1 from 1919 to 1922 inclusive
and $10,000 July'l 1923.
Broken Arrow, Okla.— B o n d O f f e r i n g . — Further details are
Elizabeth City, No. Caro.— B o n d O f f e r i n g . —Proposals will
at hand relative to the offering on July 11 of the $37,000 6%
coupon water-works bonds mentioned in Y. 90, p. 1691. be received until 4 p. m. July 11 by Z. Fearing, Mayor, for
Proposals will be received until 8 p. m. on that day by P. A. $60,000 5% coupon street-improvement bonds. The suc­
cessful bidder will also be given an option on an additional
Fox, City Clerk.
$60,000 bonds.
D e n om in a tion $500.
D ate J u ly 1 1910. In terest p a y a b lo at th e C ity
B o n d s O f fe r e d b y B a n k e r s .

T rea su ry . M a tu rity J u ly 1 1935. Certified ch e ck fo r 5 % , p a y a b le to the
C ity Clerk, Is requ ired .
B o n d e d d e b t a t present, $ 7 ,5 0 0 .
N o flo a tin g
d e b t . A ssessed v a lu a tion 1909, $ 76 9,00 0.

Brookville, Noxubee County, Miss.—R a te o f I n t e r e s t . —We
are advised that the $7,000 coupon water-works bonds
awarded on June 7 to S. A. Kean & Co. of Chicago for
$7,001 42 (100.02), plus expenses (V. 90, p. 1691), carry 6%
interest.
Buffalo, N. Y .— B o n d S a l e s f o r J u n e . —The following 4%
bonds aggregating $18,583 49 were disposed of during June
to the various sinking funds:

A u th o r ity , C h apter 215, P riv a te L a w s o f 1907.
D e n o m in a tio n $ 1,000.
D ate, d a y o f Issuance. Interest an n u ally In N ew Y o r k C ity .
M atu rity
ulred11^ ' ®c rtln el^ ch e ck fo r $ 1 ,0 0 0 , m a d e p a y a b le to th e M a y o r, Is re-

Ellis County (P. O. Waxahatchie), Tex.— Ronds V o t e d .—
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 V. 90, p. 1505.
Erie County (P. O. Sandusky), Ohio.— B o n d

S a l e .—

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:

$10 ,000 00 te m p o ra ry -lo a n b o n d s d a te d Ju n e 1 1910 and d u e J u ly 1 1911.
1,400 00 tcm p orn rv -loa n b o n d s d a te d Ju n o 15 1910 an d d u e J u ly 1 1911.
4.0 0 0 00 m o n th ly lo ca l-w o rk b on d s d a te d Ju n e 15 1910 and d u e Ju n e 15
S e a s o n g o o d & M ayer, C in c in n a t i.............................................................p ar less $600
B reed & H arrison , C in cin n a ti____________________________________ par less S625
1,183 49 m o n th ly lo ca l-w o r k b o n d s d a te d Ju n e 15 1910 and due Ju n e 15
W e ll, R o t h & C o ., C in cin n a ti____________________________________ par less $650
S . A . K ean & C o ., C h ic a g o _______________________________________p a r less $650
2.0 0 0 00 m o n th ly lo ca l-w o r k b o n d s d a te d Ju n e 15 1910 an d d u e Ju n e 15
M atu rity o n J u ly 5 as follow s: 52,5 0 0 In 1911, $ 3 ,0 0 0 y e a rly fro m 1912
1911.
to 1919 Inclu sive a n d $3,500 y e a rly fro m 1920 t o 1930 Inclusive.

Canton, Fulton County, 111.—B o n d O f f e r i n g . —Proposals
Eugene, Ore.—B o n d S a l e . —On June 27 the $150,000 re­
will be received until 7 p. m. 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 aw’arded to Morris Bros, of Portland
Waugh, City Clerk, for $10,000 43^% additional-sewcr-ex- at par and accrued interest.
tension bonds.
Florida School District (P. O. Florida), Henry County,
D en om in a tion $500.
In te re st a n n u a lly a t the C ity T rea su rer’s o ffic e .
Ohio.—B o n d S a l e .—On June 30 the $2,000 5% 1-10-year
M atu rity 20 years, s u b je c t to call a fte r 5 y e a rs. C ertified ch e ck fo r 2 %
(serial) coupon improvement bonds described in V. 90,
o f b id , m ade p a y a b le to the C ity T reasu rer, Is requ ired.
Caroline County (P. O. Denton), Md.— B o n d O f f e r i n g .— p. 1694, were awarded to M. Reiser Jr. of Napoleon at
and accrued interest. Following are the bids:
Proposals will be received until 2 p. m. July 14 for $8,000 M102.7625
. R eiser J r ., N a p o l e o n .. .$ 2 ,0 5 5 2 5 1N ew First N a t. B k ., C olum .$2,031 00
4J^% coupon Dover Bridge building bonds.
F irst N a t. B k ., N a p o l e o n .. 2,046 8 2 1State N a t. B k ., N a p o l e o n .. 2,030 00




THE CHRONICLE

108

Fort Smith and Van Buren District (P. O. Fort Smith),
Ark.—B o n d S a l e . —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.—B o n d S a l e . —On July 1
the $7,794 91 assessment and the $2,984 23 city's portion
4/42% 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:
•
$7,794 91
$2,981 23
bonds.
bonds.
$3,096 75
S e a son g ood & M ayer, C in cin n a ti.......................
$7,951 00
3,104 23
D a vles-B ertra m C o ., C in c in n a ti______________________ 7,942 91
3,087 34
S ta c y -B r a u n , T o l e d o __________________________________ 7,9 3 9 21
3,034 23
C itizen s’ N ation a l B a n k , G a l l o n ........... - .....................
7 ,9 3 5 91
3,082 23
N ew First N ation a l B a n k , C o lu m b u s -------- --------------- 7 ,9 3 3 91
3,081 00
H a y d e n , M iller & C o ., C le v e la n d ___________________ 7,916 33
T h e $7,794 91 b on d s m ature $1,000 y e a r ly o n A p ril 1 fro m 1914 to 1920
Inclusive an d $794 91 on A pril 1 1921. w hile th e $2,984 23 b on d s m ature
A p ril 1 1924.

B o n d O f f e r i n g .—Proposals will be received until 12 m.
Aug. 1 by C. S. Hetrick, City Auditor, for $12,000 4J^% re­
funding bonds.
Girard, Trumbull County, Ohio.—B o n d S a l e . —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:

S ta c y & Brau n, T o l e d o ____ $8,204 00 S e a s o n g o o d & M a y e r, C ln ___$8,161 60
W e ll, R o th & C o ., C ln _____ 8,1 9 0 00 C levelan d T ru st C o ., C le v e . 8,160 00
N ew First N at. B k ., C olu m . 8,1 8 9 00 S. A . K e a n & C o ., C h ic a g o . 8 , 1 6 0 00
H a y d e n , Miller & C o ., C leve 8,1 8 4 50 S e c .S a v .B k .& T r .C o ., T o l_ _ 8,151 00
F irst N a t. B a n k , C le v e ------- 8 ,1 8 0 60 First N at. B a n k , G ira rd ___ 8,144 80
B reed & H arrison , C ln ------- 8 ,1 7 5 00 B a rto , S c o t t & C o ., C o lu m . 8,125 00
M a tu rity $800 each s ix m o n th s fro m M arch 1 1912 t o S ep t. 1 1916 In­
c lu s iv e . '-41
Globe School District (P. O. Globe), Ariz.— B o n d s D e ­
fe a te d .

[V o l . LXXXXI.

Hartford,Conn., Northwest Sch. District.— L o a n

A u th o r­

—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.—N o B o n d s O f f e r e d . —The reports
stating that proposals would be received until July 5 for
$15,000 bonds (V. 90, p. 1694) were erroneous.
Hazlehurst, Miss.—B o n d S a l e . —The Merchants’ & Plant­
ers' Bank of Hazlehurst purchased $15,000 5% school and
water bonds on July 5 at 101.05.
ized .

D e n o m in a tio n s: 20 b o n d s o f $100 each a n d 26 b o n d s o f $500 e a c h .
D ate J u ly 1 1910.
In terest a n n u a l. M atu rity $100 y e a r ly o n J u ly 1 fro m
1911 t o 1929 Inclusive a n d $13,100 o n J u ly 1 1930.

High Bridge,5Hunterdon County, N. J.— B o n d s

A w arded

—Of the $35,000 4% 35-year coupon water-worksextension bonds offered on June 11 and described in V. 90,
p. 1569, $15,000 were disposed of to local investors at prices
ranging from par to 101.
in

P a rt.

Highland Park, Wayne County, Mich.— B o n d s

to B e S o l d

—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.
P r iv a te ly .

Holloway School District (P. O. Holloway), Belmont
County, Ohio.—B o n d S a l e . —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
March 1 from 1913 to 1932 inclusive and $500 on March 1
1933.
Hornellsville School District No. 7 (P. O. Hornell), N . Y .—

N o t S o l d . —No bids were received on July 1 for the
$30,000 4% coupon bonds described in V. 90, p. 1694.

Bonds

Irene Independent School District (P. O. Irene), Hill
—An election held July 2 resulted in the defeat of a
proposition to issue $60,000 high-school-building bonds. County, Te x . — B o n d S a l e — The $8,000 5% 20-ycar bonds
The vote was 216 “ for” to 110 “ against,” a two-thirds ma­ registered by the State Comptroller on April 18 (V. 90, p.
1193) have been purchased by the State School Board at
jority being necessary to carry.
par and accrued interest. Denomination $2,000. Date
Golden’s Bridge Fire District (P. O. Golden's Bridge),
Feb. 10 1910. Interest annually in July.
Westchester County, N. Y . —B o n d S a l e . —Mrs. Julia Brady,
Jackson Township, Ripley County, Ind.— B o n d s O f fe r e d
offering par, was the successful bidder for $5,500 5% regis­
b y B a n k e r s . —An issue of $7,500 4)^% school-house bonds is
tered bonds offered on June 28.
being offered to investors by J. F. Wild & Co. of Indianapolis.
D cn o n d n a tlo n $500.
D ate J u ly 1 1910.
In terest s em i-an n u ally at th e
M ou n t K isco N ation a l B a n k o f M ou n t K lsco .
M a tu rity o n J u ly 1 as f o l ­
low s: $500 y ea rly from 1911 to 1917 Inclusive an d $1,0 0 0 In each o f th e
years 1918 and 1919. B o n d e d d e b t, this Issue.

Greenfield, Mass.—N o t e O f f e r i n g . —Proposals will be re­
ceived until 5 p. m. to-day (July 9) by William Blake Allen,
Town Treasurer, for $45,000 4% coupon school notes.
D en om in a tion $ 1 ,0 0 0 .
D a te J u ly 1 1910.
Interest se m i-a n n u a lly at
th e First N ational B a n k . B o s to n .
M a tu rity $8,000 y e a r ly o n J u ly 1 fro m
1911 to 1915 Inclusive a n d $5,000 J u ly 1 1916. Said n otes are ta x -fre e .
T h e y w ill be certified as to genuineness b y th e F irst N ation a l B a n k o f
B o s to n and th eir leg a lity a p p ro v e d b y R o p e s , G ra y & G orh am o f B o s to n ,
w h ose op in ion w ill be furnish ed t o the purch aser.
N otes w ill be deliv ered
J u ly 15.

D e n o m in a tio n $500.
D ate Jun e 1 1910. In terest J a n .15 an d J u ly 15
a t th e N a p o le o n S tate B ank In N a p o le o n .
M atu rity $500 y e a rly on J u ly 15
fro m 1911 to 1924 Inclusive am i $500 Ju n e 1 1925.
B on d s are ta x -e x e m p t .
L e g a lity o f Issue a p p ro v e d b y S m ith , D u n ca n , H o rn b r o o k & S m ith
B o n d e d d e b t , this Issue. A ssessed v a lu a tio n , $ 38 5,60 5.

Jefferson County School District No. 15 (P. O. Whitehall)»
Mont.—B o n d S a l e .— The State Board of Land Commis­

sioners purchased $2,500 6% 5-year school-house bonds on
June 25 at par. Denomination $100. Date July 1 1910. In­
terest annual.
Kalamazoo School District No. 1 (P. O. Kalamazoo),

—The $1,000 Mich.—B o n d S a l e .— On July 5 the $15,000 4 % % coupon
street-improvement bonds voted on April 19 (V. 90, p. 1192) building and improvement bonds described in V. 91, p. 53,
were awarded to the Detroit Trust Co. at 102.34. hollow­
have been disposed of.
Guntersville, Marshall County, Ala.—B o n d S a l e . —We are ing are the bids:
T ru st C o ., D e tr o it .$15,351 00 H arris T r . & S . B k ., C h ic .$ 1 5 ,2 7 5 00
informed that the $15,000 water-works and school bonds DWetroit
II. VV. N oble & C o . . D e t . . 15,225 00
o o d ln , M cN ear & M oore,
offered without success on April 4 (V. 90, p. 1192) have been
C h icago ________________ 15,304 50 S. A . K ean <& C o ., C h ica go 15,157 50
E . II. R ollin s & S on s,C h ic. 15,285 0 0 1
disposed of at private sale.
Kendrick, Latah County, Idaho.—B o n d E l e c t i o n . —A
Hall County (P. O. Memphis), Tex.—B o n d E l e c t i o n . —Re­
to issue $10,000 6% 10-20-year (optional)
ports state that an election will be held July 30 to vote on proposition
water-system bonds will be submitted to a vote of the people
the question of issuing $16,000 good-road bonds.
on July 11.
Hamburg, N. Y . —B o n d S a l e s . —An issue of $6,600 Pierce
County School District No. 93, W ash.— B o n d O f f e r ­
Avenue and East Main Street paving bonds, proposals for i n gKing
. —Proposals will be received until 11 a. m. July 16 by
which were asked until June 20, was disposed of to a local Matt
H. Gormley, County Treasurer (P. O. Seattle) for $2,500
bank at par for 5s. Denomination $1,100. Interest semi­ coupon
school-building and furnishing bonds at not exceed­
annual. Maturity $1,100 yearly on July 1 from 1915 to
ing 6% interest.
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 4^s. Denomination
$1,800. Interest semi-annual. Maturity $1,800 yearly on
$175,308.
July 1 from 1915 to 1939 inclusive.
Klickitat County School District No. 50, Wash.— D e s c r i p ­
Hamilton, Madison County, N. Y .— B o n d S a l e . —An issue
n o f B o n d s .— The $1,500 school-building bonds disposed
of $4,000 4% 1-4-year (serial) refunding municipal-building tio
on June 4 to the State of Washington at par (V. 90, p.
bonds was sold on June 29 to E. W. Cushman at par and of
1628, are dated July 1 1910 and mature July 1 1920, but are
accrued interest. The only other offer received was one at subject
to call after July 1 1911. They carry interest at the
par for part of the issue.
rate of 6%, payable annually.
D en om in a tion $ 1,000.
D ate J u ly 1 1910. In terest s e m i-a n n u a lly at th e
N a tion a l H am ilton B ank In H a m lito n .
Klickitat County School District No. 63, Wash.— D e s c r i p
Hannibal School District (P. O. Hannibal), Mo.— B o n d tio n o f B o n d s . —We are informed that the $2,000 6-10-year
O f f e r i n g . —This district is offering at private sale $80,000 4%
(serial) school bonds awarded on June 11 to the State of
coupon (with privilege of registration) school-building and Washington at par (V. 90, p. 1628) carry interest at the rate
repair bonds. Bids will be received by the Finance Com­ of 6%.
mittee of the Board of Education.
Knoxville, Tenn.—C o r r e c t i o n . —We learn that the rate of
D en om in a tion 60 b on d s o f $500 ea ch an d 50 b o n d s o f $1,000 each .
D ate A u g. 1 l 9 t o .
In terest se m i-a n n u a lly a t th e H an n ibal T ru s t C o.
interest on the $275,000 30-year refunding bonds awarded
M atu rity 1930, s u b je c t to call o n o r a fte r A u g. 1 1920 at 103.
B on d s w ill
recently to W. H. Gass of the Knoxville Banking & Trust
be re a d y fo r d eliv ery A u g. 1 1910.
Co. at 100.552 and accrued interest carry 5% interest and
Harrison County (P. O. Logan), la . —B o n d S a l e . —On
June 10 the $21,170 6% 5-15-year (serial) Latta Drainage not 4j^% as reported in V. 91, p. 53.
Ditch District bonds offered on that day (V. 90, p. 1506) ;i:La Crosse County (P. O. La Crosse), W is. — B o n d S a l e .—
were awarded to the Win. It. Compton Co. of St. Louis on The following bids were received on July 6 for the $76,000
an income basis of about 5.40%. Denomination $500. 4|^% 8-15-year (optional) coupon insane-asylum bonds
described in V. 90, p. 1695:
Date July 1 1910. Interest semi-annual.
Gross Point, Cook County, 111.— Bond

S a le.

Harrison County (P. O. Gulfport), Miss.— B o n d s

P ro­

—It is said that the Board of Supervisors has taken
avorablc action on a petition for a bond issue of $50,000 for
road improvements.
p osed .




E m erv,*P eck & R o c k w o o il,
‘a jc h lc a g o -----------j ---------$76,104 50
A B. L each & C o ., C h i c . . 76,100 00
M erch ants’ L oa n & T r .C o . 76,052 00
15. H . R ollin s & S o n s, C ld c. 76,022 80
* P ro v id e d that the m o n e y rem ain

N . VV. H alsey & C o ., C h ic .$76 ,020
H arris T rust 9c S av in gs
B ank, C h ic a g o ..
...* 7 6 ,0 0 0
M ilw aukee T r . C o ., M llw . 75,625
Jo n n N u vccn 9c C o ., C h ic . 73,775
o n d e p o sit at 3 % fo r 4 m o n th s.

00

00
00
00

THE CHRONICLE

J u l y 9 1 9 1 0 .]

Laramie School District No. 1 (P. 0 . Laramie), Albany
County, W yo.— B o n d S o l e . —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. I I . C offin , C h ic a g o _______a$55,551 A . B . L ea ch & C o ., C h ic a g o .b $ 5 5 ,000
C offin & C raw ford , C h ic a g o , a 55,275 13. II. R ollin s & S on s, C h ic . C55.000
S. A . K ea n & C o ., C h ic a g o . a55 .220 Jam es VV. U tce & C o _______ d55 ,000
. W o o d ln .M cN e a r& M o o re .C h l. £ 5 5 ,0 0 0
a A ls o furnish the bon d s free. 6 Less $1,000 fo r e x p e n se s, c Less
$1,045 fo r expenses, (i Less $1,550 fo r e x p e n se s, x L ess $1,000 fo r c x penscs.

Lawrence County (P. O. Ironton), Ohio.— B o n d s

A w a rd ed

—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.— B o n d S a l e .—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.
in P a r t.

Little Rock Improvement District No. 148 (P. O. Little
Rock), Ark.— B o n d S a l e . —The Mercantile Trust Co. of St.

Louis was awarded $27,000
on June 30 at 96.

5 i/ 2 %

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.—-B o n d s A u t h o r i z e d . —Ordinances have
been passed providing for the issuance of $300,000 and
$275,000 street-improvement 4J^% coupon bonds.
<.1. D e n o m in a tio n $ 1 ,0 0 0 .
D ate A u g . 5 1910. In terest se m i-a n n u a lly a t
tn c c i t y H all In M em phis o r, at the o p t io n o f th e h o ld e r, a t th e U n ited
S tates M ortg age & T ru st C o. In N ew Y o r k C ity .
M atu rity A u g . 5 1945.

Milford, Seward County, Neb.— B o n d s N o t S o l d .—No sale
was made on June 1 of $18,500 5% gold coupon water and
electric-light-system bonds offered on that day.
D e n o m in a tio n $100.
D ate M arch 2 1910. In terest a n n u al. M atu rity
M arcn 2 1930, s u b je c t t o call In a n y a m o u n t a fte r 5 years.
B o n d s are
e x e m p t fro m all ta x e s.

Milwaukee, W is. —B o n d S a l e . —The three issues of 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%.
missouia School District No. 1 (P. O. Missoula), Missoula
County, Mont.— B o n d S a l e . —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:

S tate B d o f L a n d C o m ’r s . . . $52,0001 W e ll, R o th & C o ., C l n c l n ...a $ 5 2 ,0 0 0
C. H . C offin , C h ic a g o -------------a 5 2 ,5 2 1 [S . A . K ean & C o ., C h icago 652 ,500
, ,,
,
IJ o h n N u veen & C o ., C h ic a g o .c 5 2 ,161
------- .
« B id n o t a c c o m p a n ie d b y th e requ ired certllled c h e c k . 6 B id re ce iv ed
to o late to be c o n s id e re d , c F o r 6 % b o n d s.

Montana.— B o n d s A w a r d e d i n P a r t .—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
Longmont School District (P. O. Longmont), Colo.— B o n d s State Capitol, $50,000 of which have already been issued.
V o t e d . —This district at an election held June 27 authorized
We are informed that the entire issue of bonds will be pur­
the issuance of $25,000 building bonds.
chased by the State as an investment of the educational funds.
D en om in a tion $500.
Date J u ly 1 1910.
tu r ity part yea rly fo r eigh t years.

In terest sem i-an n u al.

M a­

Los Nietos School District, Los Angeles County, Cal.—

Montgomery County (P. O. Dayton), Ohio.— B o n d s

N ot

—We are advised that the $12,000 A w a r d e d .—No award was made on June 30 of the $25,000
bonds awarded on June 6 to Jas. II. Adams & Co. of Los 4>3% Memorial Building equipment bonds described in
Angeles at 101.65 (V. 90, p. 1696) are dated June 6 1910 and V. 90, p. 1696, because the sale was not properly advertised
carry 5% interest.
in a newspaper with a general circulation throughout the
D en om in a tion $500.
In terest a n n u al.
M a tu rity fro m 1911 to 1934
State. We are advised that the issue will be re-advertised
Inclusive.
Lowell, Mass.—T e m p o r a r y L o a n . —On July 6 a loan of and sold about Aug. 1 1910.
Montgomery County (P. O. Conroe), T e x . — B o n d E le c t i o n
$700,000, payable July 7 1911, was negotiated with F. S.
Mosely & Co. of Boston at 4.34% discount and $3 premium. P o s t p o n e d .—The election which was to have been held June 9
to
vote on the question of issuing $40,000 bridge bonds was
A loan of $100,000, payable Nov. 8 1910, was also awarded
“ called off temporarily.”
to Bond & Goodwin of Boston at 4.06% discount.
Montpelier, V t. —T e m p o r a r y L o a n .—A temporary loan of
Lucas County (P. O. Toledo), Ohio.— B o n d O f f e r i n g s .—
Proposals will be received until 10 a. in. July 12 by Chas. J. $40,000 has been awarded, it is stated, to the Capital Sav­
Sanzenbacher, County Auditor, for $35,373 4)^% stone and ings Bank of Montpelier at a 5% discount.
gravel-road building bonds.
Moorhead Independent School District (P. O. Moorhead),
A u th o r ity , S ection s 692 0-6 949, G eneral C od e.
D e n o m in a tio n $50 0, e x ­
Monona County, la . — B o n d S a l e . —On June 18 the $6,400
ce p t on e b on d o f $373. D a te J u ly 22 1910.
In terest s e m i-a n n u a lly a t the
4 lA % school-building bonds described in V. 90, p. 1629,
C ou n ty T reasu rer’s o ffic e .
M atu rity $3,873 o n J u ly 22 1911 an d $3,500
y ea rly o n J u ly 22 from 1912 to 1920 Inclu sive. A cash d e p o s it o r certified
were awarded to John Nuveen & Co. of Chicago.
D e s c r ip tio n

of

B on d s.

ch eck fo r $500 on a bank d o in g a regular b a n k in g business In T o le d o Is
req u ired . T h e bond s w ill be deliv e re d o n J u ly 22 1910.

Mountain View School District (P. O. Mountain View),

Proposals will also be received until 10 a. m. July 19 by Santa Clara County, Cal.— B o n d S a l e . —On June 27 the
Chas. J. Sanzenbacher, County Auditor, for $12,658 4)^% $9,500 4)/£% 2-20-year (serial) high-school-addition bonds
voted recently (V. 90, p. 1629) were awarded to the San
stone and gravel-road-building bonds:
Jose Safe Deposit Bank for $9,591, the price thus being
A u th o r ity , S ection 6912, G eneral C o d e , O h io L a w s.
D e n o m in a tio n $500,
e x c e p t on e b on d o f $158.
D ate J u ly 29 1910.
Interest se m i-a n n u a lly at
100.955. Denomination $500. Date June 1 1910. Inter­
th e C ou n ty T reasu rer’s o ffic e .
M a tu rity $2,658 In 1 year an d $2,500 y e a rly
est semi-annual.
fro m 3 years to 5 years Inclu sive. Cash o r a certllled ch e ck fo r $500 Is re­
qu ired o n a ban k d o in g a regular ban kin g business In T o le d o .
w ill be d eliv ered o n J u ly 29 1910.

T h e bonds

Mt. Calm Independent School District (P. O. Mt. Calm),
Tex.— B o n d S a l e . —The $10,000 5% 10-40-year (optional)

In addition to the above, proposals will also be received bonds registered by the State Comptroller on June 2 (V. 90,
until 10 a. m. July 28 by the County Auditor for $62,308 p. 1696) were purchased by the State Permanent School
4,Hj% stone and gravel road building bonds.
Fund on July 1 at par and accrued interest.
A u th o rity , S ection s 692 6-6 919, G eneral C o d e .
D e n o m in a tio n $500, e x ­
c e p t on e b on d o f $308.
D a te , d a y o f d e liv e ry .
In terest s e m i-a n n u a lly at
Mt. Vernon, Westchester County, N. Y .— B o n d S a l e . —On
the C ou n ty T rea su rer’s o ffic e In T o le d o .
M a tu rity $6,808 In t o i l , $6,500
July 5 the $25,000 4Y i % 36-40-year (serial) coupon highwayIn ea ch of the years 1912, 1913 an d 1911 a n d $6,000 y e a rly fro m 1 9 1 5 to
1920 In clu sive.
A cash d ep osit o r certllled ch e ck o n a ban k d o in g a regular
improvement bonds described in V. 90, p. 1696, were bought
ban k in g business In T o le d o fo r $1,000 Is re q u ire d . T h e b o n d s w ill be d e ­
by Adams & Co. of New York City at 103.20—a basis of
livered on A u g. 8 1910.
Manchester, N. H . —T e m p o r a r y L o a n .—A loan of $50,000 about 4.329%. Following are the bids:
s & C o ., N ew Y o r k . $25 ,800 00 P a rk in son & B u rr, N . Y _ .$ 2 5 ,5 5 2 75
maturing Dec. 14 1910 has been negotiated with Bond & NA d. am
VV. H alsey & C o ., N . Y . 25,790 75 Ferris & W h ite , N . Y ____ 2 5 ,530 00
N . VV. H arris & C o ., N . Y . 25,7 7 0 25 A . B. L e a ch & C o ., N . Y . . 25,5 0 0 00
Goodwin of Boston at 4.34% discount.
S p ltzcr & C o ., N ew Y o r k . 25,583 00 O ’C o n n o r & K a h le r, N . Y . 25,470 00
Mangum, Greer County, Okla.— V o t e .—We are advised R . L . D a y & G o ., N . Y ___ 25,560 25
that 330 votes were cast “for” and 44 “against” the $85,000
Nassau County (P. O. Mineola), N. Y . — B o n d O f f e r i n g .—
6% water, sewer and city-hall bonds voted on June 21. See Proposals will be received until 12 m. July 11 by Charles F.
V. 91, p. 55. Maturity Oct. 1 1935.
Lewis, County Treasurer, for $110,000 4i^% road-construc­
Marshall, Harrison County, Tex.— B o n d O f f e r i n g . _Pro­ tion bonds.
•
posals will be received until 12 m. July 12 by II. S. Rice
A u th o rity C h apter 564, L aw s o f 1910.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate,
J u ly 1 1910.
In terest s em i-an n u ally a t th e C o u n ty T rea su rer’s o ffic e
City Secretary, for $50,000 5% high-school bonds.
In M in eola.
M atu rity $11 ,000 ye a rly fro m 1920 to 1929 Inclu sive. T h e
D ate Jan . 1 1910.
o call a fter 10 years.

Interest sem i-an n u al.
M atu rity 10 vears s iih lc c t
Certllled ch e ck fo r $ 1 ,000 requ ired
V
’
J

Pro­
posals will be received until 12 m. July 18 by Will A. McTeer,
City Recorder, for the $.50,000 5% coupon school-building
bonds mention of which was made in V. 90, p. 927.
Maryville, Blount County, Tenn.—

B ond

O f f e r i n g .—

D en om in a tion $500.
D ate Jan . 1 1010.
In terest, b e gin n in g Jan
1
1911, p a y a b le an n u ally at th e R e c o r d e r ’s o ffic e .
M a tu rity Jan 1 1930
N o d e b t a t presen t. A ssessed v a lu a tio n 1900, $64 7 ,1 1 0 .
'

Mason Special School District (P. O. Mason), Warren
County, Ohio.— B o n d B i d s .—The following bids were received

bon d s are e x e m p t fro m ta x a tio n .
Certified ch e ck fo r 1 0 % o f bid, p a y a b le
t o the C ou n ty T reasurer, Is re q u ire d . O fficial circu lar states there Is no
litig a tio n p en d in g o r th reaten ed ; also th a t there has n ever been a n y
d e fa u lt In th e p a y m e n t o f p rin cipa l o r Interest.

Naylor Drainage District No. 1, Ripley County, Mo.—

—A. G. Edwards & Sons of St. Louis have pur­
chased $32,676 84 6% bonds, dated May 1 1910 and maturing
part yearly from 1913 to 1930 inclusive.
B o n d S a le.

New Barbadoes Township School District, N. J.— B o n d

Proposals will be received until 7:30 p. m.
11 by G. N. Comes, Clerk of School District (P. O.
on June 8 for the $25,000 4^% school-building bonds, July
Hackensack), for $16,400 4^% bonds. Interest semi­
awarded to the First National Bank of Cleveland at 102.321 annual.
Certified check for $200 is required.
( V . 90, p. 1696).
First N at. B a n k , C le v c___$25 ,580 25 C. E . D e n is o n & C o .,C lo v e $25,393 25
New Bedford, Mass.— B o n d S a l e .— 1This place, it is re­
N ew First N a t. B k .,C olu m 25,527 00 H a y d e n ,M llle r& C o .,0 1 e v o . 25,376 00
ported, has awarded $50,000 4% highway bonds to Blodget
VV. R . T o d d & C o ., C i n . . . 25,511 00 O tis & H o u g h , C le v e la n d . 25,315 00
M ason B a n k, M a s o n .......... 25,462 50 S ta c y & B rau n , T o le d o ___ 25,302 50
& Co. of Boston at 100.159. Maturity July 1 1920.
Maxwell School District (P. O. Maxwell), Caldwell
New Berlin, Stark County, Ohio.— B o n d S a l e . —The
County, Tex.—B o n d s V o t e d .— By a vote of 39 to 5, this dis­ $1,000 5% 3-year coupon park-purchase bonds offered on



O ffe r in g —

110

THE CHRONICLE

May 30 and described in V. 90, p. 1439, have been sold to
the Canton Public Literary Association at 102.50 and
accrued interest.
.
Newburg (P. 0. Cleveland), Ohio.—B o n d S a l e . —The five
issues of 4)^% street-improvement assessment bonds aggre­
gating §18,159 80, described in V. 90, p. 1097, were sold
on June 30 to the First National Bank of Cleveland at 100.663
The following premiums were offered for the bonds:

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
yet been advised why they are being re-submitted to the
voters.
Pawtucket, R. I .— B i d s R e j e c t e d . —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 ,7 6 0 $3,2 0 5 80 $3,0 9 6 §3,168
§ 3 ,8 4 0
bonds.
bonds.
bonds,
bonds, bonds
First N ational B a n k , C l e v e l a n d ,.§27 10
§25 00 §25 40 §25 10
$16 90
H a y d e n , M iller & C o ., C le v e la n d . 22 00
19 00 19 00
21 00
12 00
S ea son good * M ayer, C in cin n a ti. 12 00
8 20
8 00
8 00
200
O tis & H o u g h , C lev ela n d ________
_____ (fo r th e five Issues) $25 00-------M atu rity part o f each Issue y e a r ly fro m 1911 t o 1915 Inclusive.
N o t e S a l e .— The $3,868 08 5% East 109th Street notes
also offered on June 30 were bought by Hayden, Miller & Co.
of Cleveland. Maturity two years.
Newburgh, Orange County, N. Y . —B o n d S a l e . —The
$158,000 4% registered water-works-improvement bonds
due March 1 1930 and described in V. 90, p. 1629, were sold
June 23 to N. W. Harris & Co. of New York City at 95.167.
New Rochelle, N. Y . —B o n d S a l e . —On July 5 the follow­
ing 4J^% registered bonds, described in V. 91, p. 54, were
awarded to Adams & Co. of New York City:
§1 7 ,0 0 0 fire-d ep a rtm en t b o n d s at 1 01 .48.
M a tu rity §1,000 y e a rly on
M ay 1 fro m 1915 to 1931 Inclu sive.
55,000 s c h o o l b on d s at 101 .75.
M atu rity § 5 ,000 y e a r ly on M ay 1 fro m
1920 to 1930 Inclu sive.
21,421 se w e r-co n s tru ctio n b o n d s a t 101 .20.
M atu rity $1,000 y e a rly on
M ay l fro m 1911 t o 1930 Inclusive an d §1,421 o n M ay 1 1931.

[V O L . L X X X X I

Pontiac School District (P. O. Pontiac), Oakland County,
Mich.— B o n d S a l e . —The $80,000 4j^% 8-15-year (serial)

school-building and site bonds voted on May 26 (V. 90,
p. 1509) were sold on July 5 to E. II. Rollins & Sons of Chi­
cago and H. W . Noble & Co. of Detroit at their joint bid of
103.07 and accrued interest—a basis of about 4.162%. The
bonds are dated July 1 1910. Denomination $1,000. Int­
erest semi-annual.
Portsmouth, Norfolk County, Va.— B o n d s N o t S o l d . —No
satisfactory bids were received on June 30 for the three
issues of \ V 2 % 30-year gold coupon bonds aggregating
$250,000 described in V. 90, p. 1571.
Provo City, Utah County, Utah.— B o n d O f f e r i n g . —Pro­
posals will be received until 8 p. m. July 11 by Ralph Elliott.
City Recorder, for $90,000 5% coupon water-supply bonds,
Maturity 20 years, subject to call after 10 years. Date
July 11 1910.
Richland (Town) and Richland Center (City) Joint School
District No. 2, W is.— B o n d S a l e . —On July 1 the $60,000

4y > % 1-15-year (serial) high-school-building bonds men­
B o n d O f f e r i n g . —Proposals will be received until 8 p. m.
July 12 by George II. 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
registered park bonds.
D en om in a tion § 1 ,0 0 0 , e x c e p t o n e b o n d o f §5 0 0 .
D ate J u ly 1 1910.
In '
terest M ay 1 a n d N o v . 1 a t th e C ity T rea su rer’s o ffic e .
M atu rity M ay 1
1916.
Bkl m ust be m ade o n a p rin ted fo rm fu rn ish ed b y the C ity Clerk
an d be a c c o m p a n ie d b y a certtlled ch e ck o n an In corp ora ted ban k o r trust
c o m p a n y In N ew Y o r k S ta te fo r 5 % o f b o n d s bid fo r , m ade p aya ble t o the
C ity T reasu rer. T h e b o n d s w ill be d eliv e re d o n J u ly 19 1910.

D e n o m in a tio n § 1 ,0 0 0 .

D ate F e b .

1 1910.

In terest a n n u a l.

Riverside, Cal.—B o n d E l e c t i o n . —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.—
Newton County (P. O. Kentland), Ind.— B o n d s N o t S o l d .—
An issue of $63,500 5% bonds was offered without success on B o n d O f f e r i n g . —Proposals will bo received until 10 a. m.
July 15 by W. Coffee, County Judge (P. O. Miami), for the
June 25.
$20,000 5% 10-20-year (optional) bonds registered by the
New York City.—B o n d S a l e s . —The Sinking Fund of this
Comptroller on June 17.
city during the month of June purchased at par the following State
D ate A pril 10 1910.
In terest a n n u a lly In A u stin o r M ia m i. C ertified
bonds:
ch e ck fo r 5 % o f b o n d s, p a y a b le to th e C o u n ty Ju d g e , Is re q u ire d .
P u rp o se—
V a riou s m u n icipa l p u r p o s e s _____________
R a p id transit b o n d s _____________________
A ssessm ent b o n d s _______________________

.
.
.

In t. R ate. M a tu rity. A m ou n t.
3
1959
$60,525
4
1959
1,472
3
1910
500

Rochester, Beaver County, Pa.— P r i c e

P a id fo r B o n d s .—

We are advised that the $20,000 4j^% coupon funding and
refunding bonds, recently awarded to II. P. Taylor & Co. of
Pittsburgh (V. 90, p. 1698), were disposed of on a basis
T o t a l .......................................................................................................................... $62,497
The following revenue bonds (temporary securities) were of about 4.20%. Maturity part yearly on June 1 from 1932
to 1939 inclusive.
also issued during June:
Rome, Ga.—B o n d s P r o p o s e d . —Local papers state that
Interest.
A m ou n t.
R ev e n u e b on d s, cu rren t e x p e n se s------------------ -------------4 )4
$ 3 ,675,000
this city has under consideration the issuance of approxi­
R e v e n u e b o n d s, cu rren t e x p e n s e s ------------------------------4
200 ,000
mately $250,000 bonds.
R e v e n u e b o n d s, curren t e x p e n se s--------------------------------3 )4
6,000,000
R ev en u e b on d s, cu rren t e x p e n se s_____________________
3 )4
5,4 0 0 ,0 0 0
Salem, Mass.—B i d s . —The following bids were received on
R e v e n u e b on d s, s p e c ia l_________________________________
4 )4
205,000
June 30 for the $75,000 loan awarded on that day to Bond
T o t a l ........................... ..................................................................................... $ 1 5 ,4 8 0 ,0 0 0
& Goodwin of Boston at 4.05% discount (V. 90, p. 55):
New York State.—B o n d S a l e . —The $200,000 5% 5-44D isco u n t.
D iscou n t.
o lm a n & T u p p er,
year (serial) registered or coupon Canaseraga Creek improve­ B o n d & G o o d w in , B o s t o n ___4 .0 5 % L oBrlno sgt, o nT______________________
4 .1 0 %
lake B ro s. & C o ., B o s to n
* 4 .0 6 %
ment bonds, bids for which were opened on July 1 (V. 90, OB ld
C o lo n y T ru st C o ., B o s t o n .4 .1 0 % E s ta b ro o k & C o ., B o s t o n ____ 4 .1 5 %
p. 1570), were awarded to the Windsor Trust Co. of New
* A n d 75 cen ts p rem iu m .
York City at 103.13—a basis of about 4.782%. The other
M atu rity O ct. 20 1910.
bids received were as follows:
Salem Township, Delaware County, Ind.— B o n d s O f fe r e d
W . N . Color & C o ., N\ Y -------103.01
f$ l,0 0 0 ._ 1 0 2 .3 3
b y B a n k e r s . —School-house 4j^% bonds amounting to $18,­
1 ,0 0 0 ..1 0 2
Jas. A . H u tch in s o n , B o s t o n . 101.61 Jam es M cC all, B ath
N . Y ......................... j 1 ,0 0 0 ..1 0 1 .5 6
W h it e & C o ., N ew Y o r k -------*100.50
000 arc being offered to investors by J. F. Wild & Co. of
I 1 .0 0 0 ..1 0 1 .2 7
Indianapolis.
l 1 ,0 0 0 ..1 0 0 .7 8
• A ll o r a n y p a rt.
o m in a tio n § 1 ,2 0 0 .
D ate Jun e 1 1910. Interest s e m i-a n n u a lly a t
North Attleboro, Mass.—T e m p o r a r y L o a n . — - A loan of th eDCe nom
m ercia l B ank In D alevllle, In d .
M atu rity § 1 ,2 0 0 y e a rly o n Ju n e 1
$40,000 has been negotiated with Bond & Goodwin of Boston fro m 1911 to 1925 Inclu sive. B on d s are e x e m p t fro m ta x a tio n . L e g a lity
o f Issue a p p ro v e d b y Sm ltti, D u n ca n , I lo r n b r o o k & S m ith .
B o n d ed d e b t,
at 4.12% discount. Loan matures Dec. 1 1910.
this Issue. A ssessed v a lu a tio n , $ 1 ,5 5 8 ,6 8 5 .
North Bend School District No. 8 (P. O. North Bend),
Dodge County, Neb.— B o n d s O f fe r e d b y B a n k e r s . —The $30,­

Salt Lake City School District (P. O. Salt Lake City),
Salt Lake County, Utah.—B o n d s N o t S o l d . —Up to June 18

B ottin ea u (C it y ), B ottin e a u C o u n ty — $14 ,000 fu n d in g b on d s dated F e b . 1
1910 and d u e $2,000 F e b . 1 1920, § 2 ,0 0 0 F e b . 1 1925 an d §10,000 F e b . 1
1930.
C arroll S c h o o l D istrict N o . 8, Billings C o u n ty — § 1 ,1 0 0 sch o o l-b u ild in g b on d s
d a te d June 1 1910 and d u e Jun e 1 1930.
C en ter S ch ool D istrict N o . 11, O liver C o u n ty — §750 sch o o l-b u ild in g b on d s
d a te d M arch 1 1910 an d due M arch 1 1295.
D ra y to n S p ecia l S c h o o l D istrict, P em b in a C o u n ty — § 2 ,5 0 0 refu n d in g b on d s
d a ted June 1 1910 an d due Jun e l 1930.
* G rand F ork s— $ 16 ,000 w ater-m ain bon d s d a te d M arch 1 1910 and due
§1 ,000 y e a rly o n M ay 1 fro m 1911 t o 1926 Inclu sive.
Io w a S ch ool D istrict N o . 24, M cL ean C o u n ty — §500 sc h o o l-b u ild in g b on d s
d a ted June 1 1910 an d d u e Ju n e 1 1930.
L o c k w o o d S ch o o l D istrict N o . 6 9 , W a r d C o u n ty — § 1 ,0 0 0 fu n d in g b on d s
d ated Jun e 1 1910 a n d d u e Jun e 1 1930.
M ylo S ch o o l D istrict N o . 26, R o le t t e C o u n ty — $3,500 s c h o o l-b u ild in g b on d s
d a te d June 1 1910 an d d u e J u n e s i 1930.
P em b in a C ou n ty S c h o o l D istrict N o . 4 6 — § 2 ,1 5 0 sc h o o l-b u ild in g b on d s
d a ted June 1 1910 an d d u e Ju n e 1 1922
.
,
.
W a sh b u rn (C ity ), M cL ean C o u n ty — § 1 8 ,0 0 0 w ater-w ork s b o n d s, d a te d
Ju n e 1 1910 an d d u e $ 4 ,5 0 0 Ju n e 1 1915 and §900 yea rly on J u n e 1 fro m
1916 to 1930 In clu sive.
„ _
.
„„„
,
W e b b e r S c h o o l D istrict N o . 84, M ountrail C o u n ty — §2,0 0 0 s ch o o l-b u ild in g
b on d s dated Ju n e 1 1910 an d d u e Juu e 1 1930.
W illia m s C o u n ty S c h o o l D istrict N o . 37— § 1 ,2 0 0 sch o o l-b u ild in g b on d s
d a ted M arch 1 1910 a n d d u e M arch 1 1930.

§ 2 0,000 general refu n d in g b o n d s.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate A u g . 1
1910.
M atu rity A u g . 1 1919.
1 1 , 5 0 0 W a sh in gton S t. p a v in g (city s p o rtio n )
b o n d s.
D e n o m in a tion
§5 0 0 .
D ate M ay 1 1910. M atu rity M ay 1 1919.
15,000 F ran klin S t. p a vin g ( c i t y ’ s p o rtio n ) b o n d s.
D e n o m in a tion § 5 0 0 .
D ate M ay 1 1910. M atu rity M ay 1 1919.
400 N ell S t. p a v in g ( c i t y ’s portion ) b o n d s.
D e n o m in a tion § 1 0 0 .
D ate M ay 1 1910.
M atu rity M ay 1 1919.
In terest se m i-a n n u a lly at the C ity T reasurer’s o ffic e .
B ids m ust stato
th e a m o u n t offered fo r each Issue separately and shall be a c c o m p a n ie d b y
a certified ch e ck In the Bum o f § 1 ,0 0 0 gu aran teeing the term s o f th e bids.

000 5% 10-20-year (optional) coupon school-house bonds no sale had yet been made of the $700,000 4% 20-year gold
voted last March (V. 90, p. 799) are being offered to in­ coupon school bonds mentioned in V. 90, p. 1319. We are
vestors by II. T. Holtz & Co. of Chicago.
advised that the Board of Education will now endeavor to
D en om in a tion §5 0 0 . D a te Ju n e 1 1910.
In te re st a n n u a lly a t the fiscal
dispose of $200,000 of these bonds, the same to be delivered
a g e n c y o f N ebraska In N ew Y o r k C ity .
T o ta l b o n d e d d e b t , this Issue.
July 1 or Aug. 1 1910.
Assessed v a lu a tio n , § 3 3 5 .0 0 0 .
R e a l v a lu e (e s tim a te d ), § 2 .0 0 0 ,0 0 0 .
Sandusky, Ohio.—B o n d O f f e r i n g . —Proposals will be re­
North Dakota.— B o n d s P u r c h a s e d b y S ta te i n J u n e . —The
following 4% bonds, aggregating $62,700, were purchased ceived until 12 m. July 11 by Joseph Loth Jr., City Auditor,
for the following 4% bonds:
at par by the State of North Dakota during June:

(P. O. Schenectady), N. Y.— B o n d
—Proposals will be received until 12 m. July 15 by
J. I. Winne, County Treasurer, for $10,000 4 *^% court-house
and jail bonds. Interest semi-annual. Certified check for
2% is required.
Scotia, Schenectady County, N. Y . —B o n d S a l e . —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. Color & Co. of New York City. A
description of these securities was given in V. 90, p. 1698.
• S a le p rev iou sly rep o rte d In V . 90, p . 251.
Seattle, Wash.— B o n d O f f e r i n g . —Proposals will be re­
Opelika, Lee County, Ala.—B o n d E l e c t i o n . —A proposition
t* issue $85,000 5% 30-year municipal water and light bonds ceived until 12 m. July 30 by W . J. Bothwcll, City Comp-




Schenectady County

O ffe r in g .

J u l y 9 1910. i

THE CHRONICLE

111

Toledo, Ohio.—B o n d S a les to S in k in g F u n d . —During the
troller and ex-officio City Clerk, for the following coupon
quarter ending June 30 the following 5% coupon bonds were
bonds at not exceeding 43^% interest.
disposed of to the Sinking Fund:
$1,00 0 ,0 0 0 p a rk b o n d s t o bear the d a te o f th eir a c tu a l Issue a n d b e c o m e due
20 years fro m th a t d a te .
..
,
4 21 .000 g old general m u n icip a l b o n d s.
D a te J u ly 1 1910.
M atu rity
$20,000 y ea rly o n J u ly 1 fro m 1911 t o 1929 In clu sive an d
$41 ,000 J u ly 1 1930.
„
, •
, •
4 00 .000 g old general m u n icip a l b o n d s.
D a te J u ly 1 1910. M a tu rity
$20 ,000 y e a rly o n J u ly 1 fro m 1911 t o 1930 Inclu sive.
T h e a b o v e b on d s w ere v o te d o n M arch 8 1910. T h e $ 1 ,0 0 0 ,0 0 0 p£rk
b o n d s w ere ottered w ith o u t su ccess o n Jun e 4 . S e e V . 90, p . 1G30. Interest
o n all o f th e Issues is p a y a b le sem i-a n n u a lly a t th e llscai a g e n c y o r t h o
S ta te o f W a s h ln to n In N ew Y o r k C ity . Certified ch e ck on a S e a ttle ban k
f o r 2 M % o f bon d s b id fo r is r e q u ire d .

Seneca County (P. O. Waterloo), N. Y .— B o n d O ffe r in g .—

Proposals will be received until 2 p. m. July 11 by 1*red. G.
Smith, County Treasurer, for $14,075 56 registered highway
bonds.
D ate J u ly 15 1910.
In terest se m i-a n n u a lly a t th e C o u n ty T re a su re r’s
o ffic e .
M a tu rity $2,345 92 y e a r ly .
C ertllled ch e ck fo r 5 % , p a y a b le to
th e C o u n ty T reasu rer, Is re q u ire d . N o d e b t a t presen t.

$ 10 ,424 83 S ew er N o . 1079 Im p rovem en t assessm ent b o n d s.
D ate Jan . 17
1910. M a tu rity p a rt each s ix m o n th s fro m M arch 17 1911 t o
S e p t. 17 1915 Inclu sive.
„
5,6 5 0 38 S u m m it A v e n u e Im p ro ve m e n t b o n d s.
D ate J a n . 7 191 0. M a­
tu r ity part each s ix m o n th s fro m M arch 7 1911 t o S e p t. 7 1915
.
Inclu sive.
1,623 56 H o b a r t S treet N o . 1 b o n d s.
D a te M arch 18 1910.
M a tu rity
p a rt each six m o n th s fro m S e p t. 18 1911 t o M arch 18 1915
237 76 S ew er N o . 1,084 b o n d s.
D ate A p ril 16 1910.
M a tu rity p a rt
each six m o n th s fro m Alarch 16 1911 to S e p t. 16 1912 In clu sive.
9,028 92 C onsaul Street N o . 2 b o n d s.
D ate M arch 30 1910. M a tu rity
part each six m o n th s fro m M arch 30 1911 to S e p t. 30 1915
Inclu sive.
12,429 08 P a rk w o o d A v e n u e N o . 7 b o n d s.
D a te A p ril 14 1910. M a tu rity
o n e b o n d each six m o n th s fro m M arch 14 1911 t o M arch 14 1915
Inclu sive.
In terest sem i-a n n u a lly a t th e N o rth e rn N a tio n a l B a n k In T o le d o .

Sheridan, Sheridan County, W yo.— B o n d S a l e — 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 Y. 90,
p. 1698. A bid was also received from M. F. Bramley of
Cleveland, O.

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 County, 111.—B on d s .V oted . —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.

Sheridan County School District No. 33 (P. 0 . Ranchester),
W yo.— B o n d S a l e — The State of Wyoming, offering par and

A w a rd ed in P a r t . —On

accrued interest, was the successful bidder on June 23 for
the $3,500 5% bonds described in V. 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 .— B on d S a l e — 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^s. Adams & Co.
of New York bid $25,007 for 4)^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.— B o n d O ffe r in g . —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.
D en om in a tion $50 0, e x c e p t o n e b o n d fo r $455 26.
D ate S e p t. 1 1910.
In terest sem i-a n n u a lly a t th e C ity T rea su rer's o ffic e .
M it u r it y $8,000
S e p t. 1 1918 an d $ 3,455 26 S e p t. 1 1922. C ertltled ch e ck fo r 5 % o f bo n d s
b id fo r Is req u ired .

Springfield School District (P. O. Springfield), Ohio.—■

Trinidad School District (P. O. Trinidad), Colo.— B on d s

July 1 $50,000 of the $100,000 4)^%
high-school-building bonds voted on June 2 (V. 90, p. 1572)
were awarded to H. Moses & Son at par. The remaining
$50,000 will not be sold, we are informed, until July 1 1911.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate J u ly 1 191 0.
In terest s e m i-a n n u a l.
t u r ity 30 years, s u b je c t t o call a fte r 15 ye a rs.

M a­

Tuxedo (Town) Union Free School District No. 6, Orange
County, N. Y .— B o n d O ffe r in g . —Proposals will be received

until 12 m. July 20 at the office of Paul Tuckerman, 59 Wall
St., New York City, for $15,000 4^% gold registered bonds.
D e n o m in a tio n $1 ,0 0 0 .
D ate J u ly 1 191 0.
In te re st se m i-a n n u a lly at
the M an h a ttan T ru st C o . In N ew Y o r k C ity .
M a tu rity $ 1 ,000 y e a r ly on
J u ly 1 fro m 1911 t o 1925 In clu sive. L e g a lity o f b o n d s a p p ro v e d b y A p p le­
to n L . C lark, E sq . T h e b o n d s w ill b e d e liv e ra b le o n th e d a y o f sale.

T h e o ffic ia l n o tic e o f th is bond o ffe r in g w ill be f o u n d a m on g
the a d vertisem en ts elsew here in th is D e p a r tm e n t.

Umatilla County (P. O. Pendleton), Ore.— B o n d O ffe r in g .

—Proposals will be received until 12 m. July 15 by G. W.
Bradley, County Treasurer, for $15,000 5% coupon school
bonds.
A u th o r it y S u b -d iv is io n 31, S e ctio n 3389, B e llin g e r’s an d C o tto n 's A n n o
ta te d C od e o f th e S tatu tes o f O re g o n .
D e n o m in a tio n $50 0.
D ate A u g . 1
1910. In terest se m i-an n u ally a t th e C o u n ty T reasu rer’s o ffic e . M a tu rity
A u g . 1 1930, s u b je c t t o call a fte r A u g . 1 1920. C ertllled c h e c k o r cash fo r
$500 Is req u ired .
B o n d e d d e b t at p resent, $ 1 0 ,0 0 0 . N o flo a tin g d e b t .
Assessed va lu a tio n fo r 1909, $596,654 06.

.—Proposals will be received until 2 p. m.
July 16 by W. II. Holmes, Clerk Board of Education, for
Union County School District No. 5, Ore.— B o n d O ffe r in g .
$100,000 4j^% coupon liigh-school-building bonds.
—Proposals will be received until 3 p. m. July 15 by John
Authority Section 399 1, Revised Statutes
Denomination
$1,0 0 0 .
Date A u g. 1 1910. Interest semi-annually at the office of the Treasurer Frawley, County Treasurer (P. O. La Grande), for $50,000
of the Board of Education. Maturity $10,000 yearly on Aug 1 from 1925 5% gold coupon high-school-building bonds.
to 1934 Inclusive. Bonds are exempt from taxation. Certllled check for
B o n d O fferin g

$3,000, payable to the Board of Education, Is required.

Stafford, Stafford County, Kan.— B o n d S a le N o t C on ­

su m m a ted . —On

May 17 the $45,000 4J^% water and light
bonds described in V. 90, p. 1196, were awarded to the First
State Bank of Stafford. We are advised, however, that this
sale was never consummated, the attorney for the bank
having refused to approved the issue.
Stamford (Town), Conn.— N o A c tio n Y e t T a k e n .— We are
advised, under date of June 16, that nothing is being done
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.
See V. 90, p. 1319.

D e n o m in a tio n $ 1 ,0 0 0 .
D ate A u g . 15 1910.
In terest se m i-a n n u a lly a t
th e C o u n ty T reasurer's o ffic e o r a t s o m e b a n k In N ew Y o r k C ity, a t th e
o p tio n o f th e pu rch aser.
M a tu rity A u g . 15 1930, s u b je c t t o call a ft e r
A u g . 15 1920. B o n d e d d e b t, In clu din g this Issue, $ 6 3 ,5 0 0 .
F lo a tin g d e b t ,
$ 2 ,0 0 0 . Assessed v a lu a tio n fo r 1909. 5 1 ,4 1 4 ,3 7 5 .

Upper Sandusky, Wyandot County, Ohio.— B o n d E le c tio n .

—An election has been called for July 15 to vote on a pro­
position to issue $5,000 Warpole Street sewer bonds.
B on d s A u th o r iz e d . —An ordinance has been passed author­
izing the sale of $16,000 Johnson St. paving bonds.
Vernon (P. 0 . Rockville), Tolland County, Conn... B o n d

June 24 Parkinson & Burr of Boston purchased
at par the $60,000 4% 15-year coupon refunding railroad-aid
bonds described in V. 90, p. 1631.
Stuttgart Sewer District No. 1 (P. O. Stuttgart), Arkansas
Warsaw, N. Y .— B on d S a le .— On June 28 $9,900 5%
County, Ark .— B o n d S a le . —The $27,000 6% coupon
sewer-construction bonds offered but not sold on April 25 registered funding-judgment bonds were awarded to the
County National Bank of Warsaw at par.
(V. 90, p. 1258) were awarded on June 27 to Farson, Son & Wyoming
D e n o m in a tio n $ 3 ,3 5 0 .
D ate J u ly 1 1910.
Interest sem i-an n u al.
Co. of Chicago at par.
M atu rity $3,300 y e a rly o n J u ly 1 fro m 1911 to 1913 Inclu sive.
Tacoma, Wash.—B o n d S a le . —On June 25 the $100,000
Warwick, Kent County, R. I .— T e m p o r a r y L o a n . — The
gold coupon surface-water-drainage bonds, dated July 1 1910 $375,000 which this town recently borrowed is due as follows:
and described in V. 90, p. 1510, were awarded to the State $175,000 which was loaned by Bond & Goodwin at 4.54%
of Washington at par for 4Y? % 1-20-ycar (optional) bonds. discount matures Dec. 5 1910 and $200,000 furnished by
The following bids were received for 5% 20-year bonds:
Providence banks at 4.50% discount matures Jan. 5 1911.
W o o d ln .M cN e a r& M o o re .C h . 102.777
S e a s o n g o o d & M ayer, Cln_. .1 0 5 .0 8
Washington, Warren County, N. J.— B on d S a le . —The
N . W . H a lsey & C o ., C h i c . . . 104.082 H arris T ru st & S. B k ., C h ic . 102.7125
W e ll, R o th & C o ., C ln .......... .1 0 4 .0 7 3 A . II. L ea ch & C o ., C h ic . .1 0 1 .5 6
$60,000 4% coupon or registered sewer-system-construction
E
m
ery,
P
e
c
k
&
R
o
c
k
w
o
o
d
,C
h
.l0
1
.0795
W m .R .C o m p to n C o ., St. L ou is. 104.073
bonds offered on June 27 and described in V. 90, p. 1699,
E .I I .R o llin s & S on s, D e n v e r . 102.70 O tis & H o u g h , C le v e la n d ___100.625
Seasongood & Mayer also offered 102.04 for 4%s, while were awarded to Johnston Cornish at 101.
N. W. Halsey & Co. submitted a bid for 4j/£s.
Waterloo, Jefferson County, W is.— B o n d O ffe r in g . — Pro­
Tarrant County Improvement District No. 1, Tex .— B on d posals will be received until 7:30 p. m. July 15 by F. E.
S a le N o t C o n su m m a ted . —According to Dallas papers, Judge Peschel, Village Clerk, for $28,000 4J^% coupon water-works
Terrell of the County Court addressed a letter to the Levee and se ,ver-system-construction bonds.
A u th o rity S e ctio n 943 , R e v ise d S ta tu te s, as a m e n d e d b y C h ap ter 413 ,
Commissioners on June 28, declining to ratify the sale of the A cts
f 1909.
D e n o m in a tio n s: 4 b o n d s o f 5 1 ,000 e a c h , 9 b o n d s o f $2,000
$250,000 5% levee and dike bonds to the Texas Building Co. ea ch oand
2 b o n d s o f 53.000 e a ch .
D ate J u ly 15 1910.
In terest a n n u a lly
at th e F a rm ers’ & M erch ants' S tate B a n k In W a te r lo o .
M a tu rity $ 1 ,0 0 0
See V. 91, p. 56.
ye a rly on J u ly 15 Iro n 1916 to 1919 Inclu sive: $ 2,000 y e a r ly o n Jun e 15
T h is c o m p a n y w as t o tak e $20 0,00 0 o f th e b o n d s In p a y m e n t fo r bu ildin g
th e levees an d t o p a y $50 ,000 In cash fo r the b a la n ce .
A c c o r d in g to the
term s o f th e sale, the c o u n t y w o u ld lose th e accru e d Interest o f a b o u t $ 1 0 ,­
000 , and o n a c c o u n t o f this featu re Ju d g e T errell de clin e d t o r a tify th e deal,
s ta tin g th a t the law w ou ld n o t p e rm it o f th e sale unless p a r v a lu e an d a c ­
cru ed Interest w ere o b ta in e d .

S a le . —On

from -1920 t o 1928 Inclusive $ 3 ,000 Jun e 15 1929 and $ 3,000 Ju n e 15 1930.
B o n d e d d e b t . Inclu din g this Issue, $ 3 7 ,0 0 0 . A ssessed v a lu a tio n 1909,
$74 4,10 0.

Watertown, W is. —B on d S a le . —We are advised that the
$4,000 4% 1-4-year (serial) coupon park bonds described in
V. 90, p. 1196, have been sold to local investors.
i n g . —Proposals will be received until 10 a. m. July 11 by
Wayne Township School District (P. O. Good Hope),
F. Lee Duncan, County Treasurer, for $8,000 6% coupon
Fayette County, Ohio.— Bond Offering.— Proposals will be
Wabash Township gravel-road bonds.
Tippecanoe County (P. O. Lafayette), Ind .— B o n d O ffer­

D en om in a tion $400.
D ate M ay 15 191 0. In terest s e m i-a n n u a lly at the
C o u n ty T rea su rer’s o ffic e .
M a tu rity $400 ea ch six m o n th s fro m M ay 15
1911 t o N o v . 15 1920 Inclu sive.
B o n d e d d e b t , Inclu din g this Issue, $32 ,3 0 0 .
Assessed v a lu a tio n , $ 1 ,868,610




received until 12 m. July 11 by C. W . Walker, Clerk Board of
Education, for $30,000 5 % coupon school-building and sitepurchase bonds.

112

THE CHRONICLE

A u th o r it y S ection s 762 5, 7626 an d 7627, G eneral C o d e o t O h io. D en om tn a tion $50 0.
D ate J u ly 11 1910.
Interest M arch an d S e p te m b e r
In W a s h in g to n C ou rt H ou se.
M a tu rity o n S e p t. 1 as fo llo w s : $ 1 ,5 0 0 In
•^ 2 ,? 2 9 n n,
53,000 In 1914, $3,500 In 1915 a n d $ 4 ,000 yea riy from
1916 t o m o Inclu sive. Certiiled ch eck fo r $100, p a y a b le to th e Clerk
B o a rd o f E d u c a tio n , Is rqeutred
T h e bond s will be deliv e re d w ith in ten
d a y s fro m th e tim e o f a w a rd . P u rchaser to p a y a ccru e d Interest. T h e
d is tric t has n o d e b t a t presen t. Assessed v a lu a tio n . $ 1 ,2 4 3 ,9 5 2 .

[V O L . L X X X X I ,

to 1930 inclusive. The debentures will be delivered on Auir
20 1910.
Gamrose, Alberta.— D eb en tu re B le c tio n .—An election wil
be held July 18 to vote on a by-law to issue $2,500 5% 20year park debentures.

Wellington, Summer County, K a n . — B o n d S a l e — During
Cardiff School District No. 2115 (P. O. Morinville),
June $2,500 5% improvement bonds were sold to the State of Alberta.
D eb en tu re S a le . —An issue of $1,200 5% building
Kansas at par. Bonds are dated Jan. 1 1910 and mature and site —
debentures was disposed of on June 13 to 11. O'Hara
from Jan. 1 1911 to 1920, subject to call, however, at any
& Co. of Winnipeg for $1,178 15—the price thus being 98.179.
interest period.
Maturity part yearly on Oct. 1 from 1911 to 1920 inclusive.
Wellsville Union Free School District No. 1 (P. O. WellsClaresholm, Alberta.-— D eb en tu re S a le .— The $15,000 5%
ville), Allegheny County, N. Y . —B o n d S a le . —N. W. Harris
water-works-completion debentures mentioned in
& Co. of New York City, offering 101.093, were the success­ 20-year
V. 90, p. 1700, were sold on July 4 to Aemilius Jarvis & Co.
ful bidders on June 27 for the following
bonds, a de­ of
Toronto at 96.G6. Following are the bids:
scription of which was given in V. 90, p. 1099:
$22 ,000 b on d s.
elu sive.
15.000 bon d s,
elu sive.
15.000 b on d s,
elu sive.
4,0 0 0 b on d s.
1933.

M a tu rity $2,000

y e a r ly o n D e c. 1 fr o m 1916

to 1926 In­

M atu rity $3,000

y e a r ly o n D e c. 1 fro m

1927

to 1931 ln-

M atu rity $3,000

y e a r ly o n D e c. 1 fr o m 1934

to 1938 ln-

M atu rity $2,000

o n D e c. 1in ea ch o f the years 1932 and

A em iliu s J a r v ls & C o .,T o r o n to $14,499 |W o o d , G u n d y & C o ., T o r o n to $ 1 4 ,4 3 7
C. H . B urgess & C o ., T o r o n t o 1 4 ,4 5 7 [ M ncM ahon & H e lllw e ll, C a lg . 14,257
T h e d eben tu res are d a te d M ay 20 1910.
In te re st a n n u al.

Edmonton, Alberta.— D eb en tu res V oted .— It is stated that
by-laws have been passed by the rate-payers providing for
the issuance of the following debentures: $175,000 for a new
hospital, $75,000 for exhibition grounds and $25,000 for a
Youngstown, Ohio.— B o n d O ffe r in g . —Proposals will be library site.
received until 2 p. m. July 11 by Wm. I. Davies, City
Edmundston, N. B . — D eb en tu re S a le .— J. M. Robinson &
Auditor, for the following bonds:
Sons of St. John purchased $40,000 5% 40-year water-works
$ 1 2 0,00 0 4 % w a ter-w ork s-e x te n sio n b o n d s.
M a tu rity $5,0 0 0 y e a riv on
debentures during June. Denomination $500. Interest
O ct. 1 fro m 1914 to 1937 Inclusive.
1,800 5 % steam roller b o n d s.
M a tu rity $1,0 0 0 O ct. 1 1911 an d $800
semi-annual. Date July 1 1910. This town has no other
O ct. 1 1012.
v
15,000 5 % M arshall S treet e x te n sio n b o n d s.
M a tu rity $3,000 v e a rlv debt at present.
on O ct. 1 fro m 1911 to 1915 Inclusive.
Ellice (P. O. St. Lazare), Man.— D eb en tu re S a le . —On
410 5 % G reen S treet g ra d in g b o n d s.
M a tu rity $82 y e a rly on O ct l
fro m 1911 to 1915 Inclu sive.
June 21 the $5,000 5% bridge debentures offered on that day
2,275 5 % M ’ K ln n lo S t. et al. sid e w a lk b o n d s. M atu rity $455 v e a rlv
(V. 90, p. 1513) were awarded to C. H. Burgess & Co. of
o n O c t . 1 fro m 1911 to 1915 Inclusive.
D ate J u ly 18 1910. In te re st s e m l-a n n u a lly a t th e C ity Treasurer’s o ffic e
Toronto at 99.10 and accrued interest. Following are the
C ertiiled ch eck o n a n ation al ban k fo r 2 % o f each Issue bid fo r , pa ya b le to
bids:
th e C ity A u d ito r , is req u ire d .
B ids m u st be m ade u p o n each Issue se p a ­
ra te ly .
P u rch a ser to be p repared to take the bon d s n o t later than J u ly 18
th e m o n e y t o be deliv ered at o n e o f the banks In Y o u n g s to w n o r at th e C ity
T rea su rer’ s o fflo e .

C a n ad a, its P r o v in c e s and M unicipalities.

C .H . B u rgess & C o ., T o r . .$ 4 ,9 5 5 0 0 1W .A .M a c K e n z le & C o .,T o r .$ 4 ,8 5 5
N ation a l T ru st C o ., W ln n lp 4,944 50 A e m iliu s Jarvis & C o ., T o r . 4 ,8 3 5
N a y & Ja m es, R e g in a _____ 4,9 1 0 00
J .G .M c In t o s h & C o .,R e g in a . 4,802
J .A d d ls o n R e ld & C o .,R e g ln a 4,9 0 7 00 O n ta rio S ecu r. C o ., T o r o n t o 4,7 5 7
B ren t, N o x o n & C o ., T o r . . 4,871 00
M a tu rity part y e a rly fo r 10 years

00
00
00
00

Arthur, Ont.—D eb en tu re O ffe r in g .— Proposals will be re­
Estevan, Sask — D eb en tu re S a le .— The $10,000 town-hall­
ceived until 12 m. July 13 by D. T. Small, Village Clerk, for building debentures voted last April (V. 90, p. 1199) have
$5,000 4^% debentures, due part yearly on Dec. 1from 1911 bcen^sold.

NEW LOANS,

__ NEW LOANS.

INVESTMENTS.

$ 2 6 0 ,0 0 0
$ 15 ,0 0 0
M E M P H I S , T E N N E S S E E , UNION FREE SCHOOL DISTRICT NO. 6
Police Station Bonds
Sealed prop osals w ill pe rece iv e d b y the under­
signed u n til J u ly 18, 1910, at 1 o ’ c lo c k p . m . fo r
th e pu rch ase o f all o r a n y part o f t w o hu n dred
a n d s ix ty th ou sa n d ($ 2 6 0 ,0 0 0 .0 0 ) dolla rs p olice
s ta tio n c o u p o n b on d s o f the c it y o f M em phis,
T en n essee.
D en om in a tion $ 1 ,0 0 0 .0 0 , d a te d J u ly
1, 1910, p a y a b le J u ly 1, 1950, Interest 4 K per
c e n t p e r an n u m , p a y a b le se m i-a n n u a lly , N ew
Y o r k o r M em phis.
L e g a lity o f b on d s a p p ro v e d b y D illon & H u b ­
b a rd , w h ose o p in io n w ill be deliv e re d to purch aser.
U n con d ition a l bids m ust be m a d e on blank
form s fu rn ish ed b y un d ersign ed, and be a c c o m an led b y a d u ly certiiled ch e ck on som e s o lv e n t
a n k In M em phis fo r live (5) per ce n tu m o f the
par va lu e o f the b on d s bid fo r.
T h e rig h t Is reserved to r e je c t a n y an d all bids.
D A V E H A L L E , C h airm an.
D . M . A R M S T R O N G , S ecre ta ry .
II. E . C R A F T .
P o lice S ta tion B u ild in g C om m ission , M em ph is,
Ten n.

g

TOW N OF TU XED O
ORANGE

C O ., N E W

YORK

Sealed bids will be re ce ive d a t the o ffic e o f Paul
T u ck e rm a n , N o. 59 W all S treet, N ew Y o r k C ity,
until N o o n o f the 2 0T H D A Y O F J U L Y , 1910,
fo r the purchase o f $15,000 R eg istered G old B on ds
o f U n ion Free S ch o o l D istrict N o . 6, T o w n o f
T u x e d o , N ew Y o rk .
T h ese b o n d s. In the d e n o m in a tio n o f $1,000 ea ch ,
bearin g Interest at the rate o f fo u r anti o n e-h alf
per ce n tu m per a n n u m , p a y a b le sem i-an n u ally
a n d d a te d the first d a y o f J u ly , 1910, p aya ble
p rin cipa l an d Interest a t the M anhattan Trust
C o m p a n y In the C ity ot N ew Y o r k , w ill be p aya ble
o n e in e a ch ye a r ensuing th e d ate th e re o f.
T h e b o n d s, a p p ro v e d as t o lega lity b y A p p le to n
L . C lark , E s q ., will be deliv e re d u p o n the d a y o f
sale, an d n o bids will be a c c e p te d fo r less than the
par v alu e o f the b on d s an d accru e d Interest.
T h e B o a rd reserves the right to r e je ct a n y and
all bid s.

F. WM. KRA FT

181 La S a l l e S t r e e t , C h i c a g o

Specializing in Examination of

D R A IN A G E

BOND

NETT ING

6%
400 The Rookery

JOHN

CHICAGO

H. W A T K I N S
MUNICIPAL

RAILROAD

BONDS

No. 2 W ALL STREET, NEW YORK

LAW YER

Municipal and Corporation Bonds
1312 FIRST N ATIO N AL B A N K B L D G .,

OHIOAGO, ILL.

F O R R E S T

Sc C O .

BANKERS
421 Chestnut S t.. P H IL A D E L P H IA , PA.

Municipal and
Corporation Bonds

BANKERS
60 S T A T E S T R E E T , B O S T O N
YO RK

We offer a very exceptional

AND

Municipal and
Corporation Bords

30 T IN E S T R E E T , N E W

Municipal and Corporation Bonds

4 } 4 % BONDS

McCOY & COMPANY

BLODGET & CO.

Reynolds, Watson & Co.

E S T A B L IS H E D 1885

STATE, CITY & RAILROAD BONDS

H. C. SPEER & SONS CO.

Adrian H. Muller & Son,

First Nat. Bank Bldg., Chicago

CAMERON & COMPANY

WESTERN
MUNICIPAL AND SCHOOL BONDS

IRRIGATION AND HYDRO­
ELECTRIC BONDS

A U C T IO N E E R S .

R e g u la r W e e k ly S a le s
OF

STOCKS and BONDS
EVERY W EDNESDAY
Office, No. 55 W IL L IA M STREET.
Corner Pine Street.




Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
FIRST NATIONAL BANK BUILDING
CHICAGO

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 First National Bank B ldg.,
CHICAGO.

THE CHRONICLE

J u l y 9 1 9 1 0 .J

D e b e n t u r e s N o t to B e O f fe r e d at P r e s e n t . —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
posed improvements shall be commenced this season.
Foam Lake, Sask.—D e b e n t u r e S a l e . —An issue of $2,000
6% debentures, due part yearly for 15 years, was sold during
June to C. H. Burgess & Co. of Toronto.
Grand Falls, N. B . —D e b e n t u r e S a l e . —This town sold $40,­
000 5% 30-year water-works debentures to J. M. Robinson &
Sons of St. John. Denomination $500. Date July 1 1910.
Interest semi-annual. Total debt, this issue.
Grimsby, Ont.—D e b e n t u r e S a l e . —The $15,000 4J^% highschool-building debentures offered on June 1 (V. 90, p. 1443)
have been sold, it is stated, to the Ontario Securities Co. of
Toronto. Maturity part yearly for 25 years.
High River, Alberta.—D e b e n t u r e s D e f e a t e d . —The propo­
sition to issue the $121,000 5% debentures mentioned in
Y. 90, p. 1701, was defeated at the election held June 27.
Lachine, Que.—B o n d A w a r d e d . —It is reported that the
$188,000 4Y^ffo 40-year debentures, bids for which were re­
ceived on June 22 and referred to the Finance Committee
(V.91, p. 57), have been awarded to Banque Provinciale of
Canada.
Ottawa, Ont.— D e b e n t u r e O f f e r i n g . —Tenders will be re­
ceived until 12 m. Sept. 2 by the Chairman Board of Control
for the following 4% debentures:
D a te.
Term o } Y rs.
P u rp ose—
20
$4,621 5 6 . .S o m e rs e t Street B r id g e ------------------- J u ly 1 1909
30
8.5 0 0 0 0 . . P a r k s _________________ ______ - ...........
J u ly 1 1910
60.000 0 0 . .C ity -H a ll _______________________
d o 30
30
9,000 0 0 - -T u b e rcu lo s is H o s p ita l________________
do
20
12.000 0 0 . -C on ta g iou s D iseases H o s p ita l______
do
30
3 6,500 0 0 . -T o ll H o a d s _____________________________
do
30.000 0 0 . .F i r e S t a t i o n s ..........................................
do
20
100,000 0 0 . .E le c t r ic L ig h t __________________
d o 30
20
145,508 0 3 . .L o c a l I m p r o v e m e n ts .............................
do
20
65,577 5 2 . .C i t y ’s share, L o c a l I m p r o v e m e n ts .
do
30
J u ly 1 1909
67,800 0 0 . .P u b l i c S c h o o ls ............................. ...........
30
60.000 0 0 . .P u b lic .S c h o o ls _____________________ _ J u ly 1 1910
30
21.000 0 0 . -C olleg ia te I n s titu te -----------------------do
pk S epa ra te tenders to be m ade o n blank form s furnish ed b y th e c it y are
req u ested fo r th e first ten Issues, a ggre ga tin g $ 47 1,70 7 11, an d th e last three
Issues, a ggregatin g $ 1 4 8 ,8 0 0 . In terest p a y a b le J a n . 1 a n d J u ly 1. C ertl-

113

fled c h e c k fo r $ 2 ,5 0 0 Is re q u ire d w ith ten ders tor each o f th e tw o lo ts o f
b o n d s . P u rch a se r t o p a y a c c r u e d Interest fro m J u ly 1 1910.

Perth County (P. O. Stratford), Ont.— D e b e n t u r e S a l e .—
C. H. Burgess & Co. of Toronto are reported as the purchasers
of $11,000 5% debentures, due part yearly for 15 years.
Picton, N. S.-—D e b e n t u r e S a l e . —An issue of $8,500 4J^%
80-year debentures dated Muly 1 1910 was disposed of last
month to F. B. McCurdy & Co. of Halifax at 98.50.
Prince Albert, Sask.—D e b e n t u r e s V o t e d . —The following
5% debentures were authorised at the election held June 25
(V. 90, p. 1634):
$2 2 ,5 0 0 3 0 -y e a r h o s p ita l d e b e n tu re s. V o t e , 125 t o 33.
5 ,0 0 0 1 0 -yea r e x h lb ltlo n -b u lld ln g d e b e n tu re s. V o t e , 144 t o 15.

The date of offering has not yet been determined upon.
Red Deer, Alberta.—D e b e n t u r e s V o t e d . —According to re­
ports, this place has voted to issue the following debentures:
$5,500 for cement sidewalks, $4,000 for water-works, $2,500
for plank sidewalks, $500 for fire hose and $500 for a jail.
St. Mary’s, Ont.—M a t u r i t y o f D e b e n t u r e s . —We are in­
formed that the $30,174 4% and 4)^% debentures awarded
last month to C. H. Burgess & Co. of Toronto (V. 90, p. 1701)
mature as follows:
$ 6 ,000 de b e n tu re s d u e In 30 years.
24,174 de b e n tu re s d u e p a r t y e a r ly fo r 20 years.

Saskatoon School District, Sask.— B i d s . —The following
bids were received on June 25 for the $65,000 5% coupon
debentures offered on that day and awarded, as stated last
week, to Wood, Gundy <fc Co. of Toronto at 100.33:
W o o d . G u n d y & C o .. T o r . $6 5 .2 1 5 OOJAem lllus J a r v ls & C o ..T o r _ $ 6 3 ,7 1 7 55
N a tion a l T ru st C o . W in n . 6 5 ,1 1 0 00 O n ta rio S e cu r. C o ., T o r . . 6 3 ,7 0 7 0 0
B re n t, N o x o n & C o ., T o r . 6 4,616 00)
AH b idders o ffered a c c r u e d Interest In a d d itio n t o th e ir b id s .

Sydney Mines, N. S. —D e b e n t u r e S a l e . —An issue of $33,­
500 4
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.— D e b e n t u r e

—This county, reports state, has awarded $12,000
4K% registry-office-building debentures to Aemilius Jarvis
& Co. of Toronto “at a slight discount on par.” Maturity
part yearly for 20 years.
S a le.

TRUST COMPANIES.

TRUST COMPANIES.

The
T ru st C o m p a n y of Am erica

M a n h a tta n
T ru s t

37-43 W A L L S T R E E T , N E W Y O R K .
C O L O N IA L B R A N C H i
L O N D O N O F F IC E i

122 Broadway, New York.

Com pany

95 Gresham St.

CAPITAL AND SURPLUS $8,000,000
Temporary Offices

Invites accounts of Individuals firms and corporations.
Pays interest on daily balances,
Executes trusts of every description

113 BROADWAY
W ALL

STREET

C O R N E R NASSAU

T h e C om m erce Court at W ashington
All common carriers engaged in inter-State or foreign
commerce are required by law to keep hereafter an agent at
Washington for service of process.

T H E A M E R I C A N MFG. CO.

For full information regarding this law, address

M A N ILA , S IS A L A N D JU T E

HJfeje C o r p o r a t i o n

CORDAGE
65 Wall Street,

-

NEW Y O R K

C H ICAG O

New York

%Xtje fiSxrujesttrajcttl ^jcjcpuutatxt

L.

P. O. BOX 27. A1AIN OFFICE.

NEW

O F F IC IA L O R G AN OF T H E ASSOCIATION OF
AM ERICAN G O VE R N M E N T ACCOUNTANTS

TO B E F O U N D IN A L L L E A D I N G C E R T I F I E D
P U B L IC A CC O U N T AN TS’ O FFICES.

Sample Copy 15 cents




Per Annum $1 50

BOSTON

©o.
P H IL A D E L P H IA

DOM M ERICH & CO.

F.

WASHINGTON, D. C.

A M O N T H L Y M A G A Z IN E O F I N T E R E S T TO
ACC O U N TIN G AND F IN A N C IA L O F F IC E R S
OF M U N I C I P A L I T I E S , B A N K S , R A I L W A Y S
AND O T H E R PU B L IC S E R V IC E C O R PO R A ­
TIO N S.

ST. LO U IS

'i'r u s t

YORK

General Offices, 5 7 Greene Street
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
rv

■r * r \ r \

h

u

t

* r.

„

u

n

.

9

T

r

r

C A . C C

DISCOUNT AND GUARANTEE SALES

F0 ^ MANUFACTURERS,
AGENJS AN q OTHERS

CARRY NO GOODS FOR OWN ACCOUNT

114

THE CHRONICLE

UDU81stales w soaps et new lots,

[V O L . LX X X AI

Ht%0iixjejevs.

H. M.

C h artered 1853

45 and 47 W A L L ST 11E ET

C APITAL,
SU R P L U S AND U N D IV ID E D PROFITS

-

-

-

D E S IG N , C O N S T R U C T A N D O P E R ­
A T E R A IL W A Y , L IG H T , P O W E R .
H Y D R A U L IC A N D G A S P L A N T S .

$ 1 3 ,7 2 0 ,6 2 2 .4 2

T h is C om p a n y acts as E x e cu to r , A d m in is tra to r, G uardian, T rustee, C ou rt D e p o s ita ry and In
o th e r recogn ized trust cap acities.
I t allow s Interest a t curren t rates o n de p o sits.
I t h old s, m anages and Invests m o n e y , securities an d o th er p ro p e rty , real o r person al, lo r eatates
c o rp o ra tio n s and Individuals.

EDWARD W . SHELDON, President
W ILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A . EDWARDS, 2d Asst.Sec.
T ’i U 8TK ES.
J O H N A . .S T E W A R T , Chairm an p i the n o a ra .
G u sta v H . S c h w a b ,
L ew is Cass L e d y a rd ,
F ran k L y m a n ,
' L y m a n J . G age.
Jam es S tillm a n ,
P a y n e W h itn e y ,
J o h n C laflln,
E d w a rd W . Sheldon,
J o h n J . P h e lp s,
C b a u n cey K eep
E g e rto n L . W ln th r o p

W . B ayard C u tting,
Wllllanr. R ock efeller,
A lexan d er E . Orr,
W illia m I I . M acy J r .,
W illia m D . Sloano,

ENGINEERS

$ 2 , 000 , 000.00

-

G eorge L . R iv e s ,
A r th u r O. Jam es,
W illia m M . K in gsley.
W illia m S tew art T o d .
O gden Mills,

Co.

By l l e s b y &

EXAM IN ATIO N S and REPORTS

218 La Salle Street, CHICAGO
O k la h om a C ity , O k la h om a,
M obile, A la .,
P o rtla n d , O re.

J. G. W HITE & CO,
E ngineers, C o n tra c to rs
43-49 Exchange Place, NEW YORK
Chicago, Ills.

San Francisco, Cal.

Investigations nnd Reports on fiiectrlc
Railway (las, Electric Light and Power
Properties. Irrigation Systems, &c.. for
Financial Institutions and Investors,

Electric Railways, Electric Light and Power
Plants, Irrigation Systems Financed,
Designed and Built.
J.

a.

London Correspondents:

W H I T E & CO., Limited

9 Cloak f-ane. Cannon St., D. C.

C. G. YOUNG
Engineering and Construction
Plans,

Methods,

Operation

Public Utilities and Industrial*

Reports for Financing

SIX T Y
W A L L ST„
NEW Y O R K

CENTRAL TRUST COMPANY
Mem. Am. Soc. C. 0.

of N E W Y O R K

H. U . W A L L A C E

54 Wall Street

Capital and Surplus, $18,000,000
(of which $ I 7 ,0 0 0 ,0 0 0 has been earned)
Authorized to act as Executor, Trustee, Administrator or Guardian.
Receives Deposits, subject to check, and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages.

E N G IN E E R
E x am in a tion s, R e p o rts , S u rveys, S u p ervision of
co n stru ction and op e ra tio n o f E lectric and S team
R ailroads. P ow er P lants, T ran sm ission lines,
Central S ta tion s an d Irrigation p r o je cts , E tc.
K x-S u p t. Illinois Central H R .; Chief Engineer
Illinois C entral R R .; and G e n ’ l M anager C h icago
Lake Sh ore & S o u th Bend E le ctric R a ilw a y.
Marquette Bldg.
C H I C A G O , ILL.

Kdmond C. Van Blest
T h om a s 4

R obert M cF. D oble
W U klnson

Associated Engineers Co.
Examinations, Itoports Construction, Operation
Irrigation Enterprises a Specialty

CH ARTER ED

1864

Union Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY,
U ptow n O ffice: 4 2 5 Fifth A v en u e, corner 3 8 th S tr e e t,
W i t h M o d e r n S a le D e p o s it V u u lts

Capital $1,000,000

Surplus (earned) $8,000,000

417 Century Building

D K N V K it

COLO.

E stablished 1389.

A.

L. R E G I S T E R

&, C O .

Successors to Pepper & Register
*
E N G IN E E R S & G E N E R A L C O N T R A C T O R S
113 North Broad Street Philadelphia,

iputxitx#
H. M . C H A N C E

ALLO W S INTEREST ON DEPOSITS.

Consulting Mining Engineer and Geologist

A cts as E xecutor, Guardian, Trustee, Adm inistrator and in all Fiduciary Capacities
on behalf of Individuals, Institutions or Corporations.

GOAL AND MINERAL PROPERTIES
Examined, Developed, Managed
837 Drexel Bldg.

lUinoisTlnist&SaviiigsBaiik
CHICAGO

Capital and Surplus
$13,400,000
Pays Interest on Time Deposits, Current and Reserve Accounts.
Deals in Investment Securities and Foreign Exchange.
Transacts a General Trust Business.
CORRESPONDENCE




INVITED.

P H IL A D E L P H IA , PA

ACCOUNTANTS.

LYBRAND,
ROSS BROS &
MONTGOMERY
C e rtifie d P u b lic A c c o u n t a n t s
(Pennsylvania)

NEW YORK,
1G5 Broadway.
PHILADELPHIA,
Land Title Bldg.
PITTSBURGH,
Union Bank Bldg.
CHICAGO, First National Bank Bldg.