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. I pimnrtal Supplement (Moniwy) StreetKailwaij Supplement (^Amuas^ In¥estor6 Supplement (Quarterly) SMe and Ci^ Supplement ^e^^ Quotation [Bntered aooordlng to Act of OongresB, In tbe year 1900, by the Wiujaic B. Dajia OOKPAjrr, in the VOL SATURDAY. JUNE 72. office ol the Librarian of OongreM.] NO. 1875. 1901. 1. Wttk ending Mom <7I«aring« 1001. PUBLISHED WEEKLY. Terms of Sabscriptlon— Payable in AdTauee: For One Year $10 00 For Six Months 600 13 00 Bnropean Sabsorlptlon (Inoladlng postage) European Sabsorlptlon Six Months (Inoladlng postage) . ...... 7 50 Annual Sabsorlptlon in London (Inoladlng postage) M2 lis. Six Mob. do. do. do. Allls. Above sabsorlptlon Inolades— STBBBT BATLWAT SnPPLBMBMT Thb Quotation supplbmbnt STATB AND OiTT SUPPLBMBMr Thb IirrBSTOHS' Supplbhbmt Terms of Advertising—(Per Incli Space.) Transient matter $4 20 Three Months (13 times) ..$29 00 " ).. 50 00 STANOINO SaSINBSS OABDS. Six Months (26 " ).. 87 00 Two Months (8 times).. 22 00 Twelve Months (62 A Messrs. Edwabds Smith, 1 Drapers' Gardens, E. O., will takesnbsoriptlons and advertisements, and supply single copies of the paper at Is. each. B. DANA Pine Street, COillPANr, PabUsliera, Corner of Pearl Street, NEXT TORK. Post Offiob Box 958. 108,fl70.697 160,881,429 188,180,640 164.3E890.0 18,290.800 0.012,707 16,005,263 185,679 230 14. 204,660 7,616,676 0.822,137 0.474546 6.416.401 081,800 8,407.819 2,194.080 69-0,400 Peoria Toledo 8,2 2U (<07 Orand Elaplda Dayton BvansvUle Youngstown 1,186,608 1,108.428 810,644 408,872 431,970 400.880 seo.coo 407.809 New Haven Springfield Worcester Portland Fall Klver Lowell New Bedford HolToke New Bng.. Chicago Cincinnati Detroit. Cleveland Indianapolis. Springfield, 111 Lexington Akron Kalamaioo OLEA RING HOUSE RETURNS. 1908,930.077 88,681,043 e8.818,465 14,994,868 107,330,699 81,7e6,770 Boston. Philadelphia Baltimore ChlOAKO St. Loula New Orleans Seven olties, Total 73,003,268 68.366,872 14.892,310 93,788 686 23,588 514 6 912.874 8.1935,801 6 days. all ottlea, 6 days. . . All olties, 1 day Total ta;>3,145,404 all olties for week. +46-5 +18 6 417-9 +0-7 +14-3 +350 +19-1 181,469,706 $ 1.481,315.091 10l.l9S,463 4H 774 B»l 2«,»06 802 Philadelphia PlttsbnrK Baltimore Buffalo a WashlDRton Albany 2,624.018 a 939.600 9,894,1 US I.ISO.HIK 1,478,076 842,406 Roohester ByraoQse Boranton Wilmington Bingham ton Chester „ Oreensbnrg Wheeling. W. Va. Total Middle... Cflif,76(l 880 600 807 ue 425.62 6t'3,014 Slonz Falls Total Paolflo. tl,410,571,191 4e5.(«8,976 11,063.748,960 817,660,937 +32-6 +48-5 St. tl,881.809.487 +85-8 Week ending May New York Spokane Tacoma. Helena Fargo Kansas Olty Minneapolis... 1001. 1000. • 965,216,336 90 406.442 83.170,284 K +58 I Cent. 5 1,831,015 812 18019,040 4.826,159 8,419.663 4,811,481 1,778 188 1,000 201 1.144888 824.860 388.600 809.491 608,783 Not InolQde d 1.667,5^».780 1.184118787 +119 87.747. OS* 1 -i-32 +27 85.058.796 --34 8 --13 --28 8 88,072 S 7 4.197,S9S 8,860 648 9.637.049 1.867 164 1,008,884 1,837 607 +8'8 ruosoo 1 +8£>*« +13 -81-8 +18 -10-7 -se-i 888.700 870,000 Denver Joseph Des Moines Davenport. Sioux City. Topeka Wichita Fremont. Hastings Colorado Springs... Tot. other West., St. Lonls New Orleans LaulBvlUe Oalveston HoDston Savannah Richmond Memphis Atlanta. Nashville. Norfolk Jacksonville. 706,878 ea OHO 17.868 18 f04 4,403 809 488 367 036 537 1.761,015 1888.208 1.040 886 870 070 804 776 8S8.8X Total Sonthera.. Total all Ontslde N. York. +89 8 28-8 10-6 J68 7 +19 6 -1-10 9 +184 +27 +35 +0 +10 108,969,084 110,910.879 15,810.0;0 7,780.768 9,267,662 6,607,42 j 6.342 8O0 2,704.818 118,403.708 13.001.000 6,894.491 7.046.067 4.098.090 8.607,6CO 8.866.996 1.474.434 LS^.OOl 1.026,464 1,047,847 7 3 3 +7 1 064.776 708.417 888,100 41 1,019 389.909 882,400 818.1S0 877.284 348,034 +17 7 9U,617 +24-9 -K-7 131,890 +8 7 +38 9 +18-7 +28 +28 8 7 -1-16 4 +54 4 8,409104 888,110 894,766 801,469 858 540 800 000 831.976 880.700 899 901 145.768 101448 200,006 +850 —ISO In tot al. +23 9 175.733.871 +9 7 +38-7 168,788,618 +12-8 38,050.756 90.098.713 18 460 688 8 859.209 19 906,868 11.180.731 9.268.299 0.775065 6,839,011 4464.741 4 581188 8,070.076 8,987 001 8.400.000 1,808.883 711.794 0.038.619 4.181.411 38,219,888 80,618,736 17.873.827 7,783 985 0.688,881 4,000.000 8,v81,e82 6,380 880 1.887.878 888,026 1.809,980 077,109 479,364 148.476 Oiil.850 1,13820- +9 7 +87 +117 1 -HJ'6 -7 3 084 4.757.634 1.305,686 843,204 1,177,481 8. -^78 816728 721.569 470 818 681 551 468 409 194,781 176 181 101,019 121.633 165 000 767.653 Not Include 60.042,420 40,088,007 48,024 364 9.657,080 0.410.748 8,830 000 8.802.471 9 084 170 8178 044 8,062.787 1,678.880 20,7T8.166 8,487 045 7 008,551 8.450 600 8 486,263 2.716,651 +9 600.980,296 000 168 060.836 045.586 679 888 431679 181581 118.070 40.089,183 -H44 6 29.014537 86,470 814 689,210 0.076.740 8.818 550 +13 4 0.547.146 +38-1 7.214676 8 838,800 +16 9 +60 4 -l-OK 8.121,772 1,207 Os-l 1,813 760 1,187.443 690 09« 471.699! 87,054 413 ~08ri88 8T8 1.920.6444(6 1,S71 4S4 088 8 084 188 8,0f8.160 41.030 188 +10-5 600.000 485.000 440,000 288 786 040 080 1 +84 6 +88 8 068,72ki 800.000 650/048 100 607 03 008 aL 2,8i6,0m 807 147 1.891 :^60 1,629.587 1,073.707 1,183 398 +81 1.706.184 8.118 889 1806 085 1.084 044 lOb 1,073117 684 970 808.698 900,836 487.470 086.800 817.85^ 080 819 485 000 409186 1,0'*9 +19 8 +84 8 +88 8 +411 +0 8.800CL0 8,442 878 1.916 301 8.648.074 1.600 956 1.701888 +41-3 01 181 187 898 876.831 980 886 460 048 818.000 978 863 •08 090 900 700 66 040 809 l.<0t 863 674 +81-9 607.800.419 404,474.875 -f04 « 12.000 804 8,078 836 1421 001 1,000 80!> 012 188 600 631 70*,710 750.000 10.099 081 96,779.001 91.49T.845 +15-6 +7"l +0 +14 +38 839 9Ti) 9 480.000 V! «80.8t*' 6 Canada— Montreal Toronto Winnipeg 18 018 OOP 0,888 073 8 009 810 1 BOO 000 0«>,898 Halifax Hamilton. St. John 783.r51 Victoria 669 839 Vanoonver Quebec 888.868 026 235 000 142,096,001 -10 7 -Mil +889 645.204 812.068 129.074 780,820,886 00,410.718 4.103.000 1,837.816 1.960.709 1.920.099 1.880.880 1.814.016 007.987 630.160 470,499 13,433386 2.080.001 1,778.213 2,300,88' 9,266,279 1,838,161 6,2ti4.700 8,110.488 1,429,178 1,498,187 1,431.918 1,357,897 1,086,574 664,28W 406,416 1896* 10,080 848 1,973.186 1.608.419 1,000.772 1,788.172 1.997,568 826,318 089,936 289.385 187.729 18 158.873 8,886,400 1,050,591 8.923,087 3 620,384 064,589 1.053.603 687,881 209,808 186,499 858,642 607 361 1,314,018 880,000 6" 8,000 461.967 418.000 800.000 Knoxvllle Fort Worth 96,7lil 870,000 210,012 168.886 10 918,646 l,841.)t97 , Angnsta Chattiinooga 1808. In tot al. 4-48 8 1.S82. 170.093 Paul Birmingham Maoon Little Rook 85. 1899. Omaha 8t. detailed figures for the previous week, covering the returns for the period ending with Saturday noon. May 25, and the results for the corresponding week in 1900, 1899 and 1898 are also given. Contrasted with the week of 1900 the total for the whole country shows a gain of 41'3 per cent. Outside of New York the increase over 1900 is 21 -9 per cent. 1001. Seattle +86-6 +11-8 We present below our usual at— City. 170.048,762 night. Oltaringi Lake Portland 1893600,788 The full details for the week covered by the above will be given next Saturday. We cannot furnish them to-day, clearings being made up by the clearing houses at noon on Saturday, and hence in the above the last day of the week has to be in all cases estimated, as we go to press Friday 850.306 273,977 806,526 881,923 924.867,0ki6 $1,220,491,723 190,079,468 «l,875.670,187 45>»,£00 Not Include Los Angeles... New York Other olties, 6 days P. Cent 1900. 8,004,607 1,728.104 1,766 69W 1,121,958 :090.017 781,798 890.64C 870,207 830,50» 285,316 831.040 119,624 881,571 200,966 137.338 02,087 Salt 1901. 1. 197.426,086 619,181 883,400 956,16e 483 000 San FrandBOO. Week Ending June 1899. 701,t!06 Rockford ., 1001. 0.840.S00 1.882.016 1,286,473 1,118,577 1,159.204 084,982 Springfield, Ohio.. Canton The following table, made up by telegraph, etc., indicates Jacksonville, 111... that the total bank clearings of all the clearing houses of Qulncy Blnomington. the United States for the week ending to-day, June 1, Jackson Ann Arbor have been $1,875,670,167, against $3,220,544,426 last week and Tot.Mid.West'n. $1,381,299,487 the corresponding week last year. Oiearingi— Rttwrn* bv Teleoraptt. 1000. 140,098,042 8,836.000 8,000.850 1,488,676 1.888,601 1,358,818 1,177.839 718,178 621.684 808,612 800,421 Mllwankee Colnmbas London Agents: WILLIAn Boston Providence Hartford Total 85. at— Tr>t«l CnllKdlt 8' » 4.'a 1,580,901 . »5 45l94s! 11 818 7 830 1,700 1,106 709 499 061 +88-8 -K16^ 009 +«* 8 068491 -t-l'O 672,103 789 699 740 014 +86 k —84 6 Not Included 9«.7.n8»iil +19^ 045 613 1.792 048 1.013 481 686.998 KlfM In tot al. *A^^% THE CHRONICLE. 1054 existing prior rvoL. Lxxii to the discovery of the oil fields. THE FINANCIAL SITUATION. This applies more particularly to the South and Southwest, as set out by us on previous occasions. Perhaps the most interesting recent announce, the stock market, though altogether they have served ments concerning the matter come from Mobile, to give strength to the tone and impart a little where very successful experiments have been made An demonstrating the serviceablenesa of the oil. Thus character to the volume of the transactions. event which will take a notable place in the history the "Mobile Register" reports that the use of petroof this country has been the decisions handed down leum oil as fuel has been inaugurated at the shops in by the United States Supreme Court bearing upon the Mobile of the Alabama Iron Works, and that the emstatus of our island possessions. We have discussed ployment of the oil will be continued if it can be proat some length on a subsequent page the efifect of cured in sufficient quantities. The Mobile " Register " is also authority for the the adjudications. A. conspicuous incident, relating to the railroad department of our industries, has statement that for the first time in the history of the been the vote of the Governing Committee of the generating of electricity in that city, oil was used on Stock Exchange on Tuesday to list Jane 10 the Friday of last week for that purpose, "with un$100,000,000 Union Pacific convertible 4 per cent bounded success and satisfaction to those concerned gold bonds and the publication of the papers in the test." The accounts of this experiment are connected with the application. The chief interest quite interesting. It appears that the Electric Lightattaching to this affair was the disclosure of the ing Company of Mobile made the test, and that the The fact that no Northern Pacific stock appears among the crude Texas oil was employed for the purpose. That omission was interpreted "Register" says "the furnaces were changed for use collateral named. as indicating that the differences with reference to the with the oil in twenty minutes and the oil was concontrol of that company had been settled; per contra veyed to the furnaces by gravity, where it met the it was argued that a provision of the mortgage steam blast, and the result was that a fire was secured allows the insertion at a future date that is merely which maintained the steam pressure at 80 pounds, a forced inference, and, being such, is a most unlikely with a variation of not more than two pounds at any and unprecedented act, especially after the bonds have time during the several hours of the test." It is added We are able now to con- that the ease of control, the cleanliness, the regularity been issued and sold. firm the announcement that an adjustment of the of the heat produced and the steadiness of the steam differences between the two interests has been agreed pressure, together with the cheapness of the fuel, upon, the effect of which will be to continue the combine to make it very attractive to the officials of present management in control of the Northern the company. The company will substitute the new Another occurrence which has caused fuel for coal, it is announced, provided "the cheapPacific. comment has been the sharp rise in the stock ness and supply of the oil be assured." of the Delaware Lackawanna & Western. That stock Of course this latter is the crucial question. We advanced on Tuesday from 229^, the close on Monday, have spoken on previous occasions of the advantages to 244, then reacting, the last sale being at 242, or a that will result to the Southwestern roads provided an gain of 12^ points, Wednesday, it declined a point, to adequate supply of fuel at low figures can be obtained 241, and yesterday it fluctuated near that figure. in this way. It is possible that in some other parts of This movement was at first used as confirmation the country there will be an offsetting disadvantage in of the rumor, for some time prevalent, that Mr. lower rates to be received for the transportation of coal Gould was thus seeking to connect his system of rail- where the latter comes in competition with the Texas roads with the seaboard. But the later decline and oil. We may refer to one illustration as a case in point. the realization of the utter impracticability of getting The "Register " reports that the Louisville & Nashcontrol through market purchases of a majority of ville will on June 1 reduce the charge on domestic that stock, so small in the aggregate and held in such steam and bunker coal from the mines on its lines in This large blocks by a few capitalists, discredited that Alabama to Mobile from %l 75 per ton to $1 10. thought and substituted the Erie Eailroad as the reduction, our contemporary asserts, is made with the probable future owner, rumor claiming that 250 had view to fighting the general use of petroleum as a subbeen, or was about to be, offered the large hold- stitute for coal. ers for their stock, in the interest of the Erie comThe election of L F. Loree as President of the Balpany. hio RR. marks the advent of the Pennsyltimore & That the importance of the Texas oil discoveries as vania RR. to the responsible management of this im- There have been a number of developments the past week, but chieflj of little direct inflaence on — an industrial factor are being generally recognized is evident from the repeated references to the subject in portant property. Since the beginning of the year the Pennsylvania interest in the road has been greatly increased, though official information is to the effect the daily papers. Not a day now passes but one or two dispatches appear showing some new application that the Pennsylvania does not own an absolute maor use of the oil, and these come from widely-separated jority of Baltimore & Ohio stock and is not deThe exact majority. having such of districts. Of course allowance must be made for ex sirous however, is of the company's holdings, aggeration in all these cases and for the natural in- extent that Pennsylis important fact The clination to entertain rather over- sanguine hopes not material. at a time of excitement attending any important vania offiicials have succeeded to control, Mr. Laree new discovery. But even if many of the new having previously been Fourth Vice President of the • Pennsylvania lines west of Pittsburg and Erie, comfail be no doubt that prising the Pennsylvania Company and the Pittsburg of success, there can in large numbers of instances a complete revolu- Cincinnati Chicago & St. Louis. Mr. Loree, it is tion will be effected in the industrial conditions needless to say, is well qualified for his new post, and projects for the employment of the oil should June 1, THE CHRONICLF. 1901.] & Ohio 1055 and able sensitiveness in the rates for sterling at Paris on London. The derangement in London caused by the administration. chief executive recent corner in Northern Pacific appears to be at an Mr. John K. Cowen, who retires as of the road, will be retained as counsel, a position end, both J. P. Morgan & Co. and Kuhn, Loeb & Co. which he held before he became President. To him having agreed to accept settlements on the basis of 160, thus obviatiig the necessity for a further suspenthe security holders owe much, and the present pros perous condition of the company may be entirely at- sion by the London Stock Exchange "Committee for The semitributed to his efforts. We think it correct to say General Purposes" of the buying in rule. that in his function, first as receiver and later as monthly adjustment on the Exchange seems to have British consols President, he has been more prominently identiBed been effected without difficulty. with the Baltimore & Ohio property, and has left a Thursday declined to 93^, the lowest in many yearsj deeper impress upon its affairs, than any one in its the cause assigned from London was American selling. Gold exports from New York to Paris this week active management since the days of John W. Gar When he assumed control the property was not have been $4,000,000. The payments at the Subrett. only in a poor state financially, but it was not fitted Treasury for bonds bought for the sinking fund have thus far since April 6 amounted to $10,333,763. The physically for undertaking the work of a large transpor tation system, its equipment especially being deficient. payments this week were about $879,567. is anre to give the Baltimore a wise Mr. Cowen mapped out a broad line of policy. lie undertook to place the road in a condition where it could carry traffic at the lowest minimum of cost, so that it might compete with the Chesapeake & Oh^o and the Norfolk & Western, its aggiessive rivals on the south, and the Pennsylvania Railrca(3, system, on the service and superb with its Mr. Cowen has been in north. IIow successful his task is attested by the present promising condition of the property. It should not be forgotten, howfcver, that it required courage as well as skill to enter on such a policy, for the work involved outlays of tens upon tens of millions of dollars. To The bank statement though failing to correct the discrepancy in the cash items which was noticeable in the previous week's return, more nearly reflected the week. of last week, known movements of money during last Loans decreased $14,639,500, indicating fur- ther liquidation of speculative accounts in tne stock market, specie increased $3,178,100 and legal tender* $3,183,500, making a total gain of $5,361,600 in cash. The gains in specie were largest by the Park, $7,017,000; the First National, $5,136,900., and the American Exchange, $1,746,000; while the losses were largest by the Chase, $3,578,300; the Hanover, $1,5:35,500; those the New York, $1,433,100; the Fourth National, $1,065,200; the New York, $1,048,000, and the Amer- possessed of Mr. Cowen's far-sightedness the outcome State of never in doubt, but the policy was criticised in many quarters at the time of its inception. Mr. Cowen's views and methods have been abundantly justified, and in turning the property over to his sue was ica, $1,014,300. Influenced by the improved condition of bank serves above noted, rates for money on the Stock re«^ Ex- he has the satisfaction of knowing that change have ruled easier this week and loans on call whether the future shall bring periods of prosperity have been made at 4 per cent and at 3 per cent, averOn Monday loans were at 4 or periods of adversity to the industrial interests aging about 3 per cent. served by the system, the Baltimore & Ohio will in per cent and at 2^ per cent, with the bulk of the busiOn Tuesday transactions were at^ either event be in position to render the transporta- ness at 4 per cent. advantage per cent and at required the best tion services of it to 3^ 2| per cent, with the majority at On Wednesday loans were at 3J per cent both of itself and its patrons. 3 per cent. and at 3 per cent, with the bulk of the business at 3 per A highly interesting event, because illustrating the cent. Thursday was a holiday. On Friday transactions perfection in work which good management can and were at 3^ per cent and at 3 per cent, with the majority does attain in every department of a company's affairs, at 3 per cent. Banks and trust companies have loaned has been the marvelous change, so quickly made and at 3 per cent as the minimum. Time contracts are without a slip, by the Metropolitan Street Railway in its freely offered, but the inquiry seems chiefly to be for motive power from cable traction to electricity. Mr. long periods beyond four months. Rates are 4 per Vreeland, the President, and those he selected to carry cent for sixty to ninety days and 4@4^ per cent for out his arrangements, had no opportunity to experi four to six months on good mixed Stock Exchange ment or be drilled in the manipulations naedful to collateral. Commercial paper is in a little better supbring about the required results. And yet a piece of ply, and at the same time the demand is increasing machinery contrived after long effort and numerous not only locally but from the interior. Rates are32(§)4 trials could not have done its work with less friction per cent for sixty to ninety day endorsed bills re3eivor an army trained to the service have acted with able, 4@4^ per cent for prime, and 5@6 per cent for greater precision than was secured on this occasion. good four to six months' single names. One thousand men were engaged in the operation dur ing Saturday night and two thousand during Sunday. The Bank of England minimum rate of discount With this force the change was so far completed at 7:40 remains unchanged at 4 per cent. The cable reports Sunday eveii ing that a trolley car was then successfully discounts of sixty to ninety- day bank bills in London run from Fiftieth Street to Fifteenth Street and back; 3|@3f per cent. The open market rate at Paris is 2^ and the next morning, Monday, the old traction road per cent and at Berlin and Frankfort it is 3i@3i per was running trolley cars throughout its entire length. cent. According to our special cable from London the Bank of England gained £779,378 bullion during There was no change in the official rates of discount the week and held £36,069,386 at the close of the by any of the European banks this week, and the open week. Thegainwasdueto importsof £871,000 (of which market rates at London and on the Continent are £636,000 were bought in the open market, £310,easy. About the only noticeable feature is some 000 were received from Egypt and £35,000 from other cesser ' . .... 105H countries), to exports of £83,000 (of which £43,000 were to Roumania and £40,000 to Brazil), and to shipmenlB of £9,000 net to the interior of Great Britain. foreign exchange market has been firm this week, though not very active, and the inquiry early in the week was chiefly for cable transfers incident to the The pending semi- monthly settlement and also to the Ras Bankers report a limited supBian loan negotiation. ply of exchange, with very few bankers' bills, and a continued demand for remittance for securities bought New York abroad for The account. failure of the drawn due to last week for The the fact that preparations were made late part of these shipments, the bills having then been drawn against the intended export; but the gold was not sent because of the advance, as was noted in the Chro2n^icle, in rates of exchange at Paris on London. Another explanation is that bankers drew largely with cables against their credits at London and Paris in connection with last week's offering of the Russian loan, and that this necessitated the shipment of gold week Oa Tuesand on in order to restore these credits. day Lazard Freres engaged $1,505,840 61 Wednesday the City National Bank engaged $1,137,876 21, Goldman, Sachs & Co. 11,057,910 55 and MulCo. $350,674 79 in gold bars, making a total of $4,052,302 16, which was shipped to Paris on ler, Schall & the steamship La Bretagne, which for sailed This makes a total of $23,171,. since the beginning of the year, exported 691 49 gold including $8,083,869 48 which was forwarded between January 16 and February 2, inclusive. The Assay Office paid $550,672 55 for domestic bullion. Gold received at the Custom House for the week $30,300. exchange have been uniformly quoted this week at 4 86^ for sixty day and 4 89 for Rates for actual business opened on Monday sight. unchanged for long and short, compared with those at the close of last week, at 4 84f @4 85 for the former and 4 88:^@4 88^ for the latter, while those for cables were advanced one quarter of a cent, to 4 89|@4 89|. The tone was firm, especially for cables, until Tues day, when it grew slightly easier, though rates were On Wednesday the market was firm unchanged. again with an advance of one-quarter of a cent for long, and it so continued on Friday. The following shows daily posted rates for exchange by some of the Nominal rates for FBI.. May 84. MON.. May 27. Brown Bro. 4 85M 4 89 85^ \f,^Z!:. Baring, (60 days. 4 861^ 86^ ( Sight... 89 5 60 dayi 4 89 4 8BJ6 4 89 Bank of Montreal. Oanadlan Bank of Oommeroe. . SlRht.... 4 \ Sight.... 4 89 60 days, < Sight... Heldelbaoh, lok- < 60 day*. eUtelmer & Co. ( Sight... LaiardFrerei...|m'*tf.'; Merchants' Bk. of Canada 8SM 160 days. ( (60 days. ( Sight... 4 89 4 86» 4 89 4 86« 488 4 86U 4 89 89 89 85^ 89 i^ i« 89M 89 86X 89 tttis.. May 28. W«D., Ma/y 29. interior 1901. Shipped by JZseeived by N. Y. Bank$. N.T.Banki. 3nrrenoT. 3old ^ i« f^ ^ ^ ^ r»« f^ ^« 31 86H 89 (H r9« •<! i« iS« IE« FBI., May 89 c Ul i« i« i« 80. 80^ 1^9^ il« Movement, 1,824,000 $4,728,000 1,134,000 Gain. »2.867.000 Gain. 690,000 18,917.000 15,880,000 Gain. 18.067,000 17.093,000 Total gold and legal tenders. JV«t Interior With the Sub-Treasury operations and gold exports the result is as follows. Week Bndin§ May 81, 1901. Banks Interior movement, as above Snb-Treas. oper. and gold exports. Total goM and legal tenders The following .n Net Ohangt in Out of Bank*. Into Sank*. Bank 19,800,000 {6 860.000 23.800,000 «28,717.000 129,160 000 18,917,000 Loss amount table indicates the fioldinfs. Gain. $3 057,000 Loss. 3,500,000 »443.O0O of bullion the principal European banks. May Bank Ingland franoe S^ermany*.. . ilnssla ^as.-Hnng'y. ipaln Italy Netherlands.. (7at. May 81, 30. 1901. 1900. of Belg'm * Gold. Silver. Total. Gold. Silver. Total. S * * S 1 t 86 069,886 83,158,955 83,168,966 86.069,836 98,399.044 44,491,069 142,890,113 81.531,526 46,730,480 187,262,008 82,611,000 16,789.000 49,410,000 87,873,000 14,339.000 48,233,000 70,439,000 7,586,000 77.966,000 83,777,000 7,837,000 81,614.000 88,791,000 10,2S4.000 48,075.000 37.679,000 9,881,000 47,060,000 14,008,000 16,804,000 30,806.000 13,689,000 16,836,000 29,625.000 15,103,000 1.974,700 17.077,700 16,435.000 1,689,000 17.074,000 4.874,000 6,986.000 10,859.000 6,364,600 6,744,590 11,109.100 4.431,000 2,860,000 1,485,000 4,275,000 2.954,000 1,477,000 rotthls week 313.733,033 10510026B 418.883,299300.868,481 1C2192480 403,064,961 Tot. orev. w'k 311.86t.898 104597ii6fl 415.B62 481 800.768. 3S5 102642468 403.310.798 THF SUPREME COURT DECISION ON THE COLONIES. We have referred before this time to the almost unanimous expectation, at Washington and elsewhere, that the Supreme Court's decision in the Porto Rican cases would confirm the general position of the Covernment. This expectation was not based on any private intimation from the Court itself, nor, as the event pretty clearly proves, on knowledge of the lines It had its of argument which would be pursued. origin, rather, in a belief, first, that the Court would lean towards adapting its construction of fundamental law to conditions and circumstances which, though novel, were inevitable; and second, that in an evenly balanced question of interpretation, majority opinion would hesitate to affirm a judgment which should unsettle adopted policies of government. Such expectation had warrant in the previous history of the Court, and it was also warranted, we believe, by the dictates of common sense. By this we certainly do not mean that the Court, for the sake of sparing mistaken public policies, ought to render opinions palpably incorrect. But it is many hardly neces- cases of Consti- In such event it is not only wise but necessary for the Court to take cognizance of other facts and influences than those which were or could have been present in the minds of the fathers of the Republic. The opinions of Chief Justice Marshall have been even. THX3 B., May 86« 89 ^ T i« The market closed with long at 4 85@4 85^, short at 4 88i@4 88i and cables 4 89@4 89^. Commercial on banks 4 84^@4 84f and documents for payment 4 84(^4 85i. Gotten for payment 4 84(^4 84^, cotton for acceptance 4 84^@4 84f and grain for payment 4 85(^4 85i. and from the movements of by New York banks. week's tutional construction where the balance hangs fairly DAILT POSTED BATES FOB FOBBION BZOHARQB. No.AmerlO£,.. the gives sary to point out that there are leading drawers. Magonn & Co.. Bonk Brltlsb to Wuk Ending May 81, Ha vana on Thursday. [Vol. LXXII. following money market fully to reflect the offering of bills against the week's exports of gold is said to be this . THE CHRONICLE. Yet often referred to in the present controversy. is it one of Justice Marshall's biographers, fully in sym- pathy with the judicial achievements of that eminent man, who observes that "had he been so minded" the Chief Justice " could have given opposite decisions, and as a matter of pure law these opposite decisions might often have been as good as those which he did give." Marshall himself, in his celebrated opinion in the case of Gibbons versus Ogden, makes the following pregnant statement of the case ''This instrument contains an enumeration of powers expreasly granted by the people to their Qoi: June 1, 1901.] THE CHRONICLE. ernment. It has been said that these powers otight to be construed strictly; but why ought they to be so construed? Is there one sentence in the Constitution which gives countenance to this rule? In the last of the enumerated powers, that which grants expressly the means for carrying all others into execution, Congress is authorized to make all rules that shall be necessary and proper for the purpose. But this limitation on the means which may be used is not ex * tended to the powers which are conferred. * What do gentlemen mean by strict construction? If they contend only against that enlarged construction which would extend words beyond their natural and obvious import, we might question the application of the term, but should not controvert the principle. If they contend for that narrow construction which, in support of some theory not to be found in the Constitution, would deny to the Government those powers which the words of the grant, as usually understood, import, and which are consistent with the general views and objects of the instrument; for that narrow construction which would cripple the Government and render it unequal to the objects for which it is declared to be instituted, and to which the powers given, as fairly understood, render it competent; then we cannot perceive the propriety of this strict construction nor adopt it as a rule by which the Constitution is to be expounded.'* The Chief Justice had before him at the time the 1057 taxation or other in possessions, government, Constitution. is not to-day We know that prerogatives restrained citizens by of of the these by the act of acquisition, become endowed with the privileges of United States Thus far the legal powers and policies citizenship. of the Government are defined. But we do not know whether Porto Rico, in the commonly accepted sense, is a part of the United States or not, and we do not know, except by inference, what is the actual relation of the Government to the Territories. Five judges out of nine declared that the island is a part of the United States, but one of those five declared that, being so, the restrictions on taxation of the States need not be applied. Eight judges out of nine refused to endorse Atislands did not, torney-General Griggs's contention, previously referred to in these columns, that neither the island acquisi- nor the existing so-called Territories of the United States are subject to the restraints imposed on actions of Congress relative to the States. Mr. Griggs and Mr. Richards, our readers will recall, went so far in their "arguments before the Court as to contend that Congress had the power not only to withhold from inhabitants of a Territory the general tions rights of American citizenship, but, in conceiv- the terriPower. For this presumption tory to Monday's Supreme Court opinions give no warrant. Justice White, whose opinion for the validity question of relative authority of Federal Government of the Porto Rican taxes was eseential to the majority and States; but it is not difficult to draw inferences decision, expressly declares of the Territories that for the existing situation. What we have shown, "in assessing national taxes Congress is limited by moreover, regarding the proper judicial attitude of the provisions of the Constitution." It is only in fixthe Court, indicates clearly enough the view to be ing local taxes that Congress enjoys discretion. "The taken of a divided bench. That Monday's decision applicability of the Constitution to the Territories," should have been affirmed by a majority of one in a Justice White continued, "is shown by the history of bench of nine is little to the purpose. The income the Government." In this opinion Justices McKenna tax decision of 1895 was arrived at by an exactly sim- and Shiras, who are numbered with the majority as to ilar majority; the legal tender decision of 1870 re- Porto Rico, concurred, while Justice Gray, also apceived the approval of only five judges out of nine. proving the validity of the Foraker taxation^Act, im- Furthermore, in the first of these two cases decision was reached by a change of one judge's position from that which he had occupied beforehand, while in the second case the judges most distinguished for experience and learning were ranged with the minority. Yet both decisions were quietly acquiesced in by the public, and were accepted, as the Constitution meant they should be under such circumstances, for part of the fundamental law. We can discover, therefore, nothing disquieting, either in the decision by itself or in the alignment of the Court. It is proper enough to record the fact that Monday's minority comprised such eminent members of the bench as Justices Fuller, Brewer and Peckham possibly giving their view of the case a preponderance of legal authority and acumen. But the Constitutional process has none the less been observed, and for ourselves we cannot regret the general outcome. The real subject for regret to us, and we believe to all other citizens, is the lack of a plain and cogent presentation of the case and of the varying alternatives a presentation which should fix, once and — able emergencies, actually to dispose of another admitted it. Alone of all the Court, Justice Brown, who submitted the first majority opinion, endorses the proposition that, in his words, "the Constitution is applicable to Territories acquired by purchase and conquest only when and so far as Congress shall so direct;" in other words, that an extra- Constitutional status for all parts of the United States not distinctly admitted to statehood privileges may be plicitly permanent. We think this fact of great importance, even though the disageement casts an unfortunate conWe fusion and obscurity on the majority opinion. contention have not concealed our own belief that the of Mr. Griggs was subject to the most dangerous exIts first result, we fear, if confirmed by the tension. highestJCourt, would have beeu a sort of panic among investors and citizens of the Territories, resulting in a demand, which could not well have been denied, for their instant incorporation into statehood. Where — demand would have stopped with Oklahoma, Hawaii or Alaska— we do not know. It is therefore, this our judgment, highly reassuring to learn that, although the status of these Territories was not disfor all, the attitude of the Court. Taken as a whole, tinctly before the Court, the almost unanimous judgthe opinions in the Porto Eico cases are singularly ment of that body is that they are a part of the corflicting not in their ultimate conclusion, but in United States and are sheltered by the Constitution. But while this part of the controversy seems to be the reasoning by which that conclusion is attained. in — — We now know that by the final test presisribed in the Constitution, the power of satisfactorily disposed of, we are bound to say that Congress over our insular the Court's cross-currents of opinion leave the main THE CHRONICLE. 1058 question in a doubt which we wish had not arisen. The [Vol. LXXIU crease of 717,024 tons over 1898, and in 1898 an in- The actual product Court's postponemeht of the Philippine cases until next autumn gives some ground for the suggestion crease of 621,621 tons over 1897. and the income tax, to which we have already made When, therefore, it is considered that reference. Justice Gray endorsed the majority opinion only be cause it authorized what he called a military, or at least temporary, government, it would certainly appear that permanent settlement has not been reached. We cannot, perhaps, make this point more clear than by citing the brief opinion of this distinguished did Great Britain in that year, though the latter's output has not yet been reported. In 1899 Great for 1900 was 3,402,552 tons, as against 2,947,316 for Rican 1899 and 2,230,292 for 1898. As recently as 1896 the Porto that it may not itself be clear how far its Nor can we be entirely sure how long product was only 1,298,700 tons, and the advance verdict goes. the Porto Rican ruling may be relied "on. Were a from that figure to 3,402,552 tons in 1900 shows that subsequent case to arise before the Court, thechaoge in four years the amount has almost trebled. The We of one vote would reverse its general attitude. This Bessemer output for 1900 was 6,684,770 tons. more open-hearth steel in 1900 than is what actually occurred with the legal tender cases probably made • was 3,030,251 tons. Of Bessemer ingots the United Kingdom produced only 1,745,004 tons in 1900, as against our production No less than ninety-two works in of 6,684,770 tons. seventeen States contributed to our open-hearth production in 1900. In 1899 only seventy-six works and fourteen States made open-hearth steel. To show cannot extend how the open-hearth output has progressed during jurist: Britain's open-hearth production "The civil government of the United States immediately and of its own force over territory acquired by the last fifteen years, we present the following table. war. Such territory must necessarily, in the first instance, Tons. Tear. Tons. Year. Tons. be governed by the military power, under the control of the rear. 1,298,700 1896 579,753 ,... 1885 133,376 1891 cannot government Civil President as Commander-in-Chief. 1,608,671 669,889 1897 1886 218,973 1892 take effect at once, as soon as possession is acquired under 1887 2,230,292 737,890 1898 322,069 1893 2,947,316 784,936 1899 314,318 1894 military authority, or even as soon as that possession is con- 1888 3,402,552 1,137,182 1900 374,543 1895 firmed by treaty. It can only be put in operation by the 1889 1890 513,232 action of the appropriate political department of the Government at such time and in such degree as that department Large though the further increase in the openmay determine. There must, of necessity, be a transition hearth output in 1900 was, it was not anywhere near sufperiod." The reader may well inquire, transition into what I the loss in the same year in the Bessemer Allowing, roughly, 100,000 tons for the ficient to offset contemplate indefinite con- production. tinuance of that period. His concluding reference to make of crucible and miscellaneous kinds of steel, the the subject of litigation, the Port Rican tariff Act, is United States produced altogether of steel in 1900 for the Justice does not as follows '' 10,187,322 tons, : The system of duties temporarily established by that Act during the transition period was within the authority of Congress under the Constitution of the United States.'' EXPANSION IN OPEN-HEARTH STEEL PRODUCTION IN UNITED STATES. In our issue of Bessemer March 30 we reviewed the 10,639,857 tons in 1899, Here, then, is a decrease in the final result of, roughly, when the use of steel for rails was enlarged. Hence our remark when reviewing the Bessemer figures, that there had been in 1900 a marked contraction in the use of steel for general purposes, 450,000 tons, at a time and that this must be accepted as in part account- ing for the present extraordinary still demand for steel, remains true. statistics production for the United States for the late calendar year and found thatjthere had^been a noteworthy contraction in output as compared ^with the calendar year preceding. The American Iron & Steel Association, through Mr. James M. Swank, has now published the statistics showing the production of steel by the open- hearth process, and here, as expected, there is a different story to tell. In a word there has been a further large addition to the produc. tion of open- hearth steel after very large increases in the years immediately preceding. The growth of steel-making by the open-hearth process has been one of the noteworthy features connected with the recent development of thejsteel trade. In Great Britain the output of open-hearth steel has for some time exceeded the output of Bessemer. In this country such a result is not within the probabilities for some years to come, owing to the enormous magnitude of the Bessemer production; but the growth of the open-hearth output has been even more striking than on the other side. A decade or more ago our open- hearth output did not count for much in the general total. Since then it has increased to such an extent that calculations of changes from year to year which ignored it would be not only decidedly misleading but altogether worthless. According to the figures prepared by Mr. Swank 455,236 tons more of open- hearth steel was made in 1900 than in 1899, and in 1899 there had been an inof against steel LEGISLATION AND BUSINESS INTERESTS. paper was read before the recent annual convention of the Texas Bankers' Association. The author was Mr. Thomas H. Franklin of San Antonio, Texas. While Mr. Franklin Under the above caption an interesting an old subject, he managed to present his thoughts in an attractive way, and what of course was even more important in a manner to convince dealt with — his hearers. On this latter — point it is rather note- worthy that while the views he advanced were conservative and sound, as opposed to the financial and other heresies that have so often in the past found acceptance in Texas, his paper was received with marked favor. Indeed, the Convention adopted a resolution requesting the leading Texas papers to give publicity to the address in their columns, and Mr. Franklin was made an honorary member of the Association. Mr. Franklin showed that legislative and business interests are closely associated, and that both are bound up in the general welfare of the people. In undertaking to define business interests he pointed out that though broadly speaking business is any matter or affair that engages a person's attention or requires his care, the term is ordinarily used in a more restricted sense as the occupation of conducting In this sense it is trade or monetary transactions. not uncommon to regard those engaged in business June 1, THE CHRONICLE. 1901.] 1069 from that to municipalities of such Powers. While this is true, which the laborer, the farmer and the mechanic the assertion leaves out of consideration the fact that belong, but as having interests inimical to the we are all both debtors and creditors, and that ag The merchant is proclaimed the enemy commercial transactions increase in volume the latter. of the farmer and the banker is declared the amount of standard money actually passing by delivoppressor of all who labor. On political questions ery from hand to hand, from buyer to seller, deand merchant advocate creases. A bank may open its doors at 9:30 in the the fact that banker held to be proof that its pur- morning with 1500,000 in money in its vaults and at a new measure is On the 3 o'clock in the afternoon close with ihe same pose is to injure the common people. other hand, banker and merchant] are too apt to amount on "hand; yet between those hours it may assume, Mr. Franklin thinks, that their ways are have paid over $1,000,000 on checks and otherwise. and that any movement that disturbs As bank deposits, therefore, perform such vast infallible, as belonging to a class not only distinci; existing if has it conditions its initiative the is | creature the so-called in of fprejudice common peo- This friction between those belonging to different callings has resulted, he well says, in the fiction that there are business interests disconnected from the general welfare, when the truth is that human ple. connected, the good of each unit of organized society so essential to that of each other and to the whole, that whatever conserves the good affairs are so closely and therefore the general welfare is the real business interest. It hence follows logically that the advancement of human hapof one conserves that of all, piness, the general welfare, terest is and the true business the true legislative in- interest. In the discussion of his subject Mr. Franklin was naturally led to a consideration of the relation of legislation to the monetary standard or medium of exchange. Aboriginal man could *'swap" the few articles he regarded as property by actual delivery, but civilized man cannot accomplish his bartering without a medium of exchange, a measure and a standard of value money. It is a mistake to assert that one nation dictates to another on this question. — The true proposition is that the attraction of interna- duties in legislative the business interests, the of business present day, the gen- interests, eral welfare, all lie in the direction of encouraging them. Mr. Franklin then proceeds to show that in this matter of encouraging deposits Texas labors under a great disadvantage in one particular. Section 16 of article 16 of the Texas Constitution provides that "No corporate body shall hereafter be created, renewed or extended with banking or discounting privileges." It follows, according to Mr. Franklin, that not only is the privilege to incorporate banks of loan and discount proper denied, but the creation of private savings banks and loan and trust companies with deposit and discounting privileges ited. He is likewise prohib- regards this as a serious impediment to the capitalization of money in Texas, practically limiting banking and discounting privileges to national Experience has demonstrated that a partnership is not a satisfactory banking institution, and consequently but few private banks are found in any of all banks. the business centers of the State. Under the constimay be in- tutional provision above, trust companies corporated in Texas with the power to loan money, commerce, improved and rapid international but without "banking or discounting privileges." As transportation, and close intellectual and social con- the receiving of demand deposits is a banking privitact, have so drawn together the civilized States that a lege, they cannot receive same, nor can they discount common interest requires that a common substance notes. Such companies in Texas, therefore, enter tional shall be used as the standard money of each. Experience time has taught that gold in the highest degree possesses the properties necessary to a standard into business competition with similar corporations of up other States heavily handicapped. money, and favor of permitting the incorporation of loan and trust to this it has been adopted as such by practically An The writer of this paper consequently argues in companies and savings banks in Texas, with power to of value and medium of exchange stable receive both demand and time deposits, pay interest in its character as greatly concerns the United States thereon, make loans on real estate and other kinds of as it does any other leading commercial nation. The property, and discount paper. He would have such people of the United States are now trading with the corporations subject to State inspection and required world. All peoples and all nations are buying at our to make full reports of their condition whenever called bargain counter. upon by the proper State authority. He points to the At the same time the fact should not be lost sight fact that Texas, being a growing State, her counties, of that the operation of exchanging commodities is not cities and towns are constantly erecting public imalways or even generally effected by the direct use of provements and issuing bonds with which to pay for money the more usual course is to employ one of the same. These bonds, now sold in the Eastern the representatives of money. The purchaser of a market, he thinks might be placed and handled at line of goods does not as a rule tender actual money home if institutions endowed with the necessary priviin payment. He pays with his check drawn on some leges existed. Moreover, the accumulation of funds bank. This check performs the function of a repre- in trust companies and savings banks steadily operates sentative of money and is accepted on the faith that to lower the rate of interest, and while no country the bank will pay it on presentation in the standard wants cheap money, it does want money which can be money of the country or its equivalent. It follows that used at cheap rates of interest. Mr. Franklin is all of the civilized nations. international measure and standard — bank deposits perform an important function as the doubtless over-sanguine as to the benefits to be exrepresentative of money and are in fact a large pare pected and the measure of independence to be attained medium hear the assertion that there is not enough gold to pay off the national debts of the great Powers, and much less than enough to pay off the with a removal of the constitutional prohibition, but there would seem no good reason why institutions endowed as he advocates should not be authorized, and thus Texas be placed on an equality with other States national debts and in that respect. of the circulating uncommon of the country. It is not to all of the various obligations of the ; THE CHRONICLE. 1060 He tions urges care against imposing too and against unwise legislation many restric- generally. He I Vol. LXXU. process shows the underwriting profit or loss in the year. This latter is the better method, because losses says it is of prime importance that the ousiness judgment of the banker should not be hampered by hard incurred and carried over may not vary proportionand fast legislative enactments, and that banks should ately to the movement in premiums and paid losses, have the utmost freedom in the carrying out of the and also because liabilities (chiefly in unearned prepurpose of their organization consistent with the mium reserve) vary according to the distribution of Bank deposits lying idle in the business through the year; thus a business relatively rights of others. vaults of a bank are of no more value as a representa- heavy in the last quarter would have a larger part of tive money than the gold unmined or the hoarded its premiums still unearned on Dec. 31 than one which By this coins tied in a stocking and hidden under the hearth. was relatively heavy in the first quarter. computation companies gainers and 111 came 53 out It is their utilization in discounts, exchange, investments, buying and selling, that adds to the welfare losers in 1900, as to the comparison of premiums with and happiness of the people. Business activity gives losses paid and expenses; 38 gained by a decrease and usefulness to these deposits, and the deposits promote 125 lost by an increase in liabilities daring the year; and putting the two comparisons together in each business activity. In the discussion of this phase of his subject he case shows that 23 companies made a net underwriting Carrying the figures again undertakes to impress the Texas public with the profit and 137 companies a loss. of totals some back we have the following, fireyears thought that a stable monetary standard is essential in Bank deposits cannot per- marine and inland included: this regard as in others. form successfully their function of a medium of ex- No. of Year. change, nor will such deposits be generally made, un- 1888 18««9 189D less there is stability in value in the standard money 1891 of the country. The depositor must feel when he 1892 1893 places his money in bank that it will be paid back to 1894 when it went in, and the banker must feel that when he assumes the trust of caring for the deposits investing them so as him on his demand just as good as — to be remunerative, yet so prudently that he may call .. .. .. .. .. .. .. 1895 1896 1897 1898 1899 190O .. .. .. .. .. .. Cos. Premiums. 152 153 148 129 130 127 121 121 134 152 162 164 161 $95,312,040 98,735,681 1888-1900.. Net 10(),728,600 110,561,013 124,086,350 127,958,537 124,649,370 124,50^,829 124,440,058 126.764,778 127,734,778 5 34,450,639 147,709,062 $1,573,638,693 Net Lots. Net Gain. $871,621 $5,S69,9¥3 2,848,934 9,2'i8",797 6,377,489 10,410,102 9,9"93;i75 8,8>^4,328 12,390,126 9,116,045 l,9i9,650 18,428,892 6,277,994 $43,904,225 $58,002,907 ..$14,098,682 Note.— The loss and gain in this table Is the net underwrltlnj? result, obtained (as above explained) by offsetting the change in liabilities against premiums less expenses and losses paid. Increase or decrease In liabilities plays a large part in the changes of flnanclal position from year to year, and the great bulk oX liabilities consists of lose meet the demands of his depositors as needed that he will not receive any poorer money than he loaned out. Banker and depositor are there fore alike interested in a sound and stable standard unearned premium. Thus, as respects underwriting results, seven of the money, and the proposition that a financial policy is necessarily wrong because it is advocated by banks thirteen years left the companies in a worse condition is not one, he truly says, that commends itself to the at the end than at the beginning; they could not all intelligence of any just man. The contrary is true; retire together by reinsuring, for the reinsurers do not the legislative interests, the business interests, the exist; but they could retire by canceling risks and general welfare, demand that as bank deposits are a discharging their obligations, in which case they would medium of exchange, they should be secure to the have been worse off by the amounts shown. The year bank and to its depositors, and they cannot be thus 1900 was one of the worst of the term and was presecure if they do not represent a standard]money that ceded by far the worst; so the condition is still recent. is honest in value a sound, safe and stable standard. In 1889, 1893, 1899 and 1900 premiums were exceeded Finally, he tells the Texas people that there is by losses and expenses paid, and those four were only one financial folly they could commit greater among the seven ''loss" years, their unfavorable than the constitutional inhibition against the capital- result being heightened by increase in liabilities, just ization of homo money, and that is to both adhere to as the two]best "gain '' years were aided by a decrease that prohibition and to fight foreign capital at the in liabilities, those being the only years in which liabilities did not increase. In 1891, 1892 and 1898 insame time. crease of liabilities converted an excess of premiums into a net loss result, and the net loss for the term FINANCIAL TREND OF FIRE comes by offsetting $50,430,472 premium excess them in to — — UNDERWRITING. One method of figuring the net financial result of against $64,529,154 increase in liabilities. 1893 was not one of general prosperity, and of excess of $1,132,876 in losses and expenses above pre- also miums. The method used by the National Board of first subtracts from net premiums was one premium shortage and net loss in the insurance field; but if the "moral hazard" which is supposed to underwriting in any year is to offset net premiums (i. e., premiums less the moderate portions paid out again for reinsurance) against losses incurred and expenses paid. By this method the official report of this State, while showing an increase in business done, shows also that 94 companies lost $3,049,123 in 1900 and 69 companies made $916,246, leaving a net fire The year it be at its height in times of depression is cited as part explanation as to 1893, we are met by the fact that in 1899 the premium shortage was twelve times as great and the net loss (the worst in the whole term) was the year 1900 over three times as great as in 1893; compares with 1893 in the same way, although less strikingly. It is a mere truism to say that the trouble is an improper relation between receipts and outgoes that only states the fact without throwing any light on Moral hazard, comparing one year with another, it. increase or decrease in liabilities as compared with the fails to explain. The entire term is later than the end of the previous year, and the result of the second decade of the two memorable fires, and does not Fire Underwriters sum and paid (not incurred) this difference is gain or loss so far, according as it is a plus or a minus quantity. Against it is set the the of expenses losses ; a June 1, THE CHRONICLE. 1901.] include any of extraordinary size ; it is also the lesson of experience that the steady drain of moderate losses is more felt in the long run than the special occasions which demand millions. This malign condition is also plainly not due to recent changes ; the term over it Without going into the stretches shows that. figures minutely, the unfavorable result is pretty well — among the companies by classes that is to say, the New York State and the outside and the foreign — so that if we make the off- hand comment that distributed the fault Is bad management, it isa very general fault, and of long standing. Nobody seems to know as much about managing underwriting properly a3 some 1061 Price. BAmi»—New York. 523 34-525 »fl AmArioa. Bank of.........*.... 660-670 City Bank, National Commerce. National Bank of.. 398%-400i2 67514 rianover National Bank Manhattan Co.. Bank of the.... 31514 196 Merchants' National Bank 8kare$. 62 25 50 110 15 15 10 N. B. A Bank of. Rank National 100 Phenlx National Bank 5 Republic, Nat. Bank of the Tkust Companies—JV. T. 60 America, TmstCo. of fi which ) . New York , Partr 25 Farmers* Loan 1 N. Y. Life Ins. —The & Trust Co & Trust Co . 339 587^2 11234 292 265-271 1495 1355 Last Previov1$ 8aie. May May May May May May Apr. Apr. Apr. 1901— 1901— 1901— IPOI- 525 776 415 666 IflOl- 31OI4 1901- 195 1901 — 1901 — 34OI3 581 1901- IO5I4 May 1901— 290 May 1901— 270 Apr. Apr. 1901- 1519 1901— 1330 following communication, from a prominent London financial institution, relates to a point concerning the allotments under the recent igsne of British consols. It is evident from the letter that our statement bearing upon the matter was not as clear as it should have been, and we are glad, therewho are not engaged in it think they know ; and it fore, to have our readers set right. The London Trust Company, Ld often happens that the most severe and confident 37 Lombard Street, E. C, get never opporcritics are among the outsiders who London, May 13, 1901. ) tunity to try their skill. Editor Commercial and Financial Chronicle. Dear Sir: I write to point out an error in the Commercia.l It often requires a post-mortem to determine the Chronicle of May 4. On page 844. column 2, yoa say " The disease, and even this is not invariably conclusive, for allotments of subscriptions received by the Bank of Eagland sometimes the disease is plural; yet diagnosis is always are stated to have been 12J^ per cent," and from that proceed to assume that the greater part of the loan was placed in the useful, notwithstanding it involves uncertainties and United States. The 12^^ per cent to which you refer was not the amount disagreements. Eeserving for another article some , [• ; further study of this, let us now compare the figures of net loss with taxes. r-Ratio of Taxes to-. 2^et Premiums. $2-40 TTnderwriling Taxes paid. $2,368,360 2,596,902 2,727,974 2,961,671 3,900,134 4,495.332 4,736,250 loss. 1889.. $5,369,983 1891.. .... 9,218,797 1892.. .... 6,377,489 1893 1898 1899 1900 ....10,410,102 .. .... 1,919,650 .. ....18,428,892 .. .... 6.277,994 .. The Premiums, less losses $6-67 235 625 2-20 5-96 7-40 7-34 231 305 3-34 3 21 1035 8-57 premiums less losses paid omit account of expenses; if premiums less losses and expenses were taken, the ratios would in three of the years be of a positive number to a minus quantity relation we cannot express exactly, for it is infinity. The taxes given above for six years are more than oneratios of taxes to — of the English subscriptions, but the percentage that individual subscribers were allotted in respect of their applications, Thu9 an applicant for £50,000 received an allotment of only £6,600, the percentage as a matter of fact being a little over 13 per cent (not 12>^ per cent). Yours faithfully, John Young, —The American Institute of Bank Clerks has begun the semimonthly publication having for its object the dissemination ofj information regarding the objects and methods of the institute. The first number contains a paper by John P. Forgan, President of the First National Bank of Chicago, on "How to Judge Notes;" a treatise on "Opportunities in Banking," by Alf'^ert F. Bolles, and articles by A. O. Kittredge, the Sacretary of the institute; by BoUin JefThe publicafries, Joseph C. Lincoln and George E. Allen. tion has a department of commercial law, of questions and answers, and of editorial notes. Oae feature of the initial number is a series of illustrations of irregularities in the drawing or indorsement of checks, furnished by the Seaboard National Bank of this city, while another feature is an exposition of the Correspondence School of Banking which has been established by the institute. issue of a than the net loss for the thirteen years; so they are material, and they enter into expense account. The Continental National Bank, which has been absorbed Nobody has ever suggested at least, in a manner through purchase of stock by the Hanover National Bank, which deserves hearing that insurance has any claim has transferred to the last-named institution its title to the to exemption from tax. Bat it may be called un- property 5 and 7 Nassau Street, where the bank is located, ad j oining the Hanover Bank. This transfer gives the Hanover, scientific and anomalous to tax receipts instead of which is on the corner of Pine Street, one of the most desirprofits; even the income tax, not well beloved, does able banking locations in the city, and it is proposed to erec t not attempt to do that. And when the profits are on thereon a modern structure occupying the sites of both the wrong side ? The palpable fact is that underwrit- banks, fronting on Nassau Street and extending to an irregfifth greater — — — ing has been repeatedly taxed for the privilege of ular parallel line in the rear along Pine Street. —Recently a ruling was made bj- the Commissioner of Indoing business at a loss. Grant that the law is not ternal Revenue requiring the affixing of two-cent stamps responsible for the losing result although this is a upon each order given for a transaction by brokers. The large concession, because the law has contributed to case upon which this ruling was made was that of the Christhat bad result; still the law should not permit itself tie Grain & Stock Company, of Kansas City. An order to tax adversity. The rules of fair play everywhere was given to a commission merchant of Wichita, Kan,, to forbid hitting a man when he is down partly because sell 25,000 bushels of wheat, and the sale was made through that would be harsh treatment, and partly because it the above-named company, which sent to the commission merchant a stamped memorandum of the sale. The local would impede his getting up. Collector of Internal Revenue held that the law required the Differ how we may about reasons, it is evident merchant and the broker, each of them, to issue his own that underwriting is "down," or leaning. Surely memorandum of the sale and to attach a two- cent stamp therethe interests of the civilized world require that it get to for every hundred dollars. The Grain & Stock Company appealed to the Commissioner, claiming that thereby the up. — — was taxed four instead of two cents for each $100. The Commissioner, in replying, ruled that there are two transaction ITEMS ABOUT BANKS. BANKERS AND TRUST CO'8 —Tbe auction sales of bank stocks this week aggregate 397 Transactions in trust company stocks reach a total of 86 shares. No sales of either class were made at the Stock Exchange. In the "curb" market bank stocks were neglected. The few shares sold were of National Bank of Commerce at 394 to 407 and National City Bank at 690. shares. orders in such a transaction, and that the tax liability of each separate and distinct from that of the other. Referring to this case, the Washington correspondent of the "Journal of Commerce"' says that no general order on the subject has been prepared by the Commissioner, and he will not put any instruction in wrltiog with regard to this matter until a case comes to him from one of the local collectors. is The correspondent adds that the Commissioner's aim is to . THE CHKONICLE. 1082 distinguish between bucket-shop transactions, where an order is given with no expectation of receiving the stock, and legitimate transactions through brokers which are executed Directors depositors are [Vol. LXXII, now free to draw their money as they please. A list of the new officers of the German National was printed in these columns on February 9. on the Stock Exchanges. —•'The Chicago Tribune," in speaking of the First Naannounced that the dates for the annual tional Bank of that city, says: " This institution has the convention of the American Bankers' Association which will largest foUowing^of any bank in the country. It acts as be held at Milwaukee are September 24, 25 and 26. The local banking agent for 6,000 individuals, firms and corporacommittees have not yet been appointed, but when they tions, and while it has no great accounts such as the larger shall have been selected the Secretary of the Association will New York banks have, it has deposits of $69,000,000. No open correspondence with them and the details of arrange- other institution in the country holds balances for as many ments for the convention will be settled. country banks. As indicating the size of its daily business, — It is officially —The Finance Realty Trust Company of this city has filed with the Secretary of State a certificate of the increase of its from $100,000 to $1,000,000, Half of the stock will be 6 per cent cumulative preferred and the remainder com- capital mon stock. —Morris the bank receives about 12,000 checks and drafts on the incoming mail daily, and has 350 employes." —Vice-President F. F. Pierce, of the People's National of Gallatin, Tenn., has tendered his resignation to accept the cashiership of the First National Bank of Mononga- Bank UimanBros., a member of the New hela City, Pa. York Stock Exchange, died suddenly on Saturday from the The final details of the consolidation of J the Atlantic Naeffects of a surgical operation. He was forty- four years of tional Bank and the National Bank of Wilmington, of Wilage and the son of F. B. Ulman, also a banker and broker. mington, N. C, to which we have previously referred, were S. Ulman of — — It is reported that a financial institution to be known as the perfected at special meetings of the stockholders of each, held Empire State Bank will soon be organized, and located on the this week. It was decided ako to increase the [number of main floor of the Empire Building, 71 Broadway. It is said directors of the consolidated bank, which will retain the that the hours of business of the bank will be from 9 o'clock name of Atlantic National, from eleven to nineteen members. in the morning until 5 o'clock in the afternoon in order to The new board consists of all the old directors of the Atlantic accommodate depositors who may be actively employed dur- National and all but two of the members of the merged Naing the middle of the day. a remarkable advance has occurred within the last ten days in the price of stock of the Second National Bank of Pittsburg. According to the bank's latest return it had a total of surplus and undivided profits on April 24 of over one million dollars ($1,008,489), which is more than three times the amount of the bank's capital of $300,000. Through the year 1899 the shares were quoted close to 300. All through 1900 the price kept steadily advancing; as recently, however, as the latter part of April this year the bid price was still only 450. It will be remembered that in our issue of May 11 we noted that reports were current that the directors were considering the advisability of increasing the stock from $300,000 to $600,000. Since the beginning of May the bid price has been steadily raised, advancing from 450 to 500, then to 550, then by successive steps to 600 and 700, all the time without bringing out any stock. This week no less than 725 has been bid for the stock, while none is offering at The business of the bank has been steadily less than 750. enlarged the last two years, at the same time that its surplus account has been increased, as will appear by the following statement: Second Nat. Bk., Surplus <£ Oross Aggngate ^Priee.-^ PiTTSBDRG. Capital. Deposits. Resources. Bid. Ask. Profits. Apr. 24 1901..$300,000 $1,008,489 $11,049,256 $12,657,745 450 500 Feb. 5 1901.. 800,000 972,322 10,117,366 11,689,689 405 460 Deo. 13 1900.. 300,000 910,337 9,269,260 10,779,598 401 460 Sept. 5 1900.. 300,000 860,076 9,849,949 U.310,025 380 450 June 29 1900.. 300,000 821,276 8.932,706 10,353.982 324 .... Apr. 26 1900.. 300,000 838,471 8,890,024 10,328,496 324 .... Feb. 13 1900.. 300,000 824,100 8,615,188 9,949,289 324 .... Deo. 3 1899.. 300,000 766,175 7,789,313 8,900,488 .... 295 Sept 7 1899.. 300,000 727,173 8,388,816 9,460,980 .... 295 June 30 1899.. 300,000 649,392 7,944,476 8,938,869.... 295 Apr. 5 1899.. 300,000 633.959 8,080,665 9,279,975 .... 295 Feb. 4 1899.. 300,000 649,078 7,271,820 8,488.498.... 295 Dec. 1 1898.. 300,000 636,702 6,156,346 7,358,097 .... 295 Sept. 20 1898.. 300,000 663,995 5,932,955 7,162,001290 .... Bank Wilmington. The consolidated institution under the management of J. W. Norwood, as President, and J ohn S. Armstrong as Vice President, the former having been at the head of the old Atlantic National and Mr. Armstrong having held the position of President of the Wilmington National. Mr. Andrew Moreland will continue as Cashier of the Atlantic. Mr. Joseph W. Yates, formerly Cashier of the Wilmington National, has been made one of the assistant cashiers of the new bank, and the other one is Mr. F. J. Haywood Jr., who had previously held the same position with the Atlantic. tional — Quite of will be —Mr. A. souri Trust O. Crandall has resigned as President of the MisCompany of St. Louis. The reader will remem- ber that this was originally a Sedalia corporation, but in order to enlarge the business it was re incorporated as a St. Louis institution. It was the intention to have a branch in Spdalia with Dr. Crandall in charge, but the St. Louis OlobeDemocrat says the laws of Missouri would not permit this. Hence the idea was abandoned and Dr. Crandall, as stated in our issue of May 11, organized a company in Sedalia to be as the Sedalia Trust Company, to which he will now give his entire time. It may be noted here that the capital of the Missouri Trust Company is to be increased from $500,000 to $2,000,000, the stockholders having voted to this effect on known May 15. —The Missouri State Bankers' Association closed a very successful annual convention at St. Joseph on May 22 and An unusually interesting programme had been arranged which was attended by over 400 members. Among the papers read on the occasion was one by W. C Cornwell, President of the City National Bank of Buffalo, the subject of which was " The American Institute of Bank 23. for the event, Clerks." Judge Richard Field, President of the Morrison- Wentworth Bank of Lexington, Mo., was also one of the theme was "The Chattel Mortgage." A It will be seen from the foregoing that gross deposits now discussion of the duties of bank directors and officers are $11,049,256, as against only $5,932,955 on September 20, was undertaken by Treasurer Charles O. Austin, Cash1898; aggregate resources stand at 12,657,745 as against $7,- ier of the Mechanics' Bank of St. Louis. An amendadopted to the constitution to the effect 162,001, and the total of surplus and profits at $1,008,489 com- ment was pares with but $663,995 at the earlier date. The officers are: that before relief shall be extended to a defrauded President, J. H. Willock; Vice-President, G. B. Barrett; bank, a statement shall be signed that the distressed inCashier, Thomas W. Welsh Jr., and Assistant Caahier, stitution will not compromise or compound with any perJames M. Young. son charged with the crime. The officers elected for the enThe German National Bank of Newport, Ky., has with- suing year are: President Gordon Jones, also head of the speakers. His — drawn the restrictions which were placed on its deposits at Joseph Stockyards' Bank, Joseph; Vice President Charles O. Austin, Cashier of the Mechanics' Bank of St. Louis; Secretary J. S. Calfee, Cashier of the Citizens' Bank of Windsor, and Treasurer F. W. Stumpe, Cashier of the St. St. the reorganization last February. It will be remembered that this bank failed in November 1900 on account of a defalcation of $191,000, and as part of the plan for resumption, which occurred on February 4, the old depositors agreed to Bank of Washington, Washington, Mo. allow their money to remain for a time in the custody of the The officials of the Caxton Savings & Banking Combank, drawing it out only in instalments covering a period of pany of Cleveland, a new organization, were this week fourteen months. Since the reopening, the condition of the selected by the board of directors. The President will be Mr. bank has rapidly improved and by the action of the Board of RoUin C. White, Vice-President of the American Trust Com- — : JWNE 1, /mV CHRONICLE. 1901.] 1003 panyof Cleveland; Vice-Presidents, Worcester R. Warner, E Chairman Richard H. Smith, Cashier of the Planters' NaSecretary and Treasurer, Wil- tional Bank, Richmond, Va., and brief address by O. J. S. Page and Thomas H. Geer liam F. Kyle, and Assistant Secretary and Treasurer Jadd Sands, President of the American Natiotal Bank of RichH. Clark. The institution will be capitalized at |200,000 and mond, on the needs of banking organizations. The officials ; will elected for the ensuingyear are: President, Geo, J. Seay, Cash- have a surplus of $50,000. — A controlling interest in the Medford National Bank of Medford, Mass., it is stated in the Ho^ton papers, has passed to a syndicate represented by Charles H. Sawyer, Charles S. Baxter and Lombard Williams. The price is given as 107 "SO per share, — The oldest member of the Baltimore Stock Exchange, Mr. Harris, who was 79 years old at the lime of his death, had been a member of the exchange for 55 years. Mr. R. Hopkins Harris, died last week in that city. — Approval has been given by the Comptroller^of the Currency to the application for a charter made by the United States National Bank of Johnstown, Pa. This will be the largest financial institution in that city, the capital being Francis J. $300,000. The promoters of the new venture are O'Connor, James G. Ellis, Scott Dibert, John H. Waters, C. : J. Mayer and of the First National Bank of Danville; W. H. Habliston, Vice-President of the National Bank of Virginia, of Richmond; J B, Fishburne, Vice-President and Cashier of the National Exchange Bank of Roanoke; Henry L. Schmeltz, Caehier of Schmeltz Brothers, of Hampton; E. D. Newman, B, E. Jones and W, H. Taylor. H. A, Williams, Cashier of the Metropolitan Bank of Richmond, was elected Secretary. Next year's Convention will be held in Lynchburg. — Mr, William J. Baird was this week elected a director of the Louisville National Banking Company of Louisville» Ky,, to fill the vacancy made by the death of Mr, J, C, Gilbert, The President is Mr, Theodore Harris; Vice President, J. E. Sutcliffe, and Cashier John H, Leathers. P. S, Fisher. —The programme of tne annual convention of the Georgia State Bankers' Association, which we stated in the Chron- icle several weeks ago would be held at Old Point Comfort, Va., on June 4 and 5, has been completed. The exercises for the first day will consist of the foUowirg: Addre88 by the President of the; Aa^oolation, Mr. F. T. Hardwick, Manager of Messrs. O. h Uardvrlck & Co., Dalton, Ga. Paper on " One or Two SuKgestions for Dally Practice," by John M. Miller Jr., Cashier of the Merchants & Farmers' National Bank, of Charlotte, N. 0., and Secretary and Treasurer of the North Carolina Bankers' Association. Paper on •* The Benefit of Bankers' Associations," by Mr. James R. Branch, Secretary of the American Bankers'^Assoclatlon. Address by Hon. Ellis H. Roberts, Treasurer of the United States. & Insurance Co., Petersburg; the Petersburg Savings Vice-Presidents, George W. Moore Jr., Cashier of the Lynchburg National Bank, of Lynchburg; J. R, Jopling, President ier of —We have several times referred recently to the growth of A Union Trust Company of Pittsburg. later return (of date May 22 1901) has now been made, and it shows still further expansion. Gross deposits][are up to $15,649,381, as against $11,667,260 on March 30 and $3,878,182 on May 17 1900. The item of surplus and profits also keeps increasing, the amounting at the present time to $973,877, as against $655,478 a year ago. Aggregate resources have risen in the same it interval from $5,056,070 to $17,123,259. — Williams & Barnes, bankers at Canandaigua, N, Y., have issued the following circular letter to their patrons We liave this day sold our business and "good will" to our esteemed townsman, Edward G. Hayes. He needs no Introduction from uaWe all know him as a man of strict integrity and abundant resooroea, The second and final day's proceedings will include: Report of Executive Council by Chairman P. E. May, Cashier of the National Exchange Bank of Augusta, Ga. Report of the Secretary of the Association, L. P. Hillyer,''Cashier of the American National Bank of Macon, Ga. Report of the Treasurer, George H. Plant, Vice-President of the First National Bank of Macon. Ga. Report of the delegates to the Convention of the American Bankers' Association, by T. B. Neal, President of the Neal Loan & Banking Co. of Atlanta, and Herman Myers, President of the National Bank of Savannah, Savannah, Ga. a man whom to those with may Implicitly trust. We cordially recommend him whom we have so long enjoyed such pleasant relations. all The knowledge that we leave so worthy a successor lessens our deep regret at dissolving our relations with our former patrons, Mr, Hayes will continue the business in the same office and with the present force, Mr. Walter S. Sleght is retained as Cashier, Mr. George N. Williams, of the retiring firm, — An increase from nine to eleven members is to be made is the father of Clark Williams, the Treasurer of the United in the board of directors of the Continental National Bank States Mortgage & Trust Co, of Chicago, A special meeting for this purpose has been called for June 13. It is expected that the new members will be lE)BX0ttctargg &ovxnizxcinl%nQlisU%exos George M. Reynolds, Cashier, and]P, A. Valentine'of Armour [From cor own oorresponaent.] &Co, London, Saturday, May 18, 1901. —The oflBcial force of the South Side Trust Company, of The fortnightly settlement on the Stock Exchange this Pittsburg, a new institution, was completed this week by week for a long time. Many was one of the most anxious the election of the Vice Presidents, Mr, Gearge S. Griscom people here Pacific had sold Northern shares in good faith. and Charles E. Breitwieser, The officers, as before stated, speculatively; many sold in the No doubt some sold but are: President, Benjamin Page, and Secretary and Treasurer, ordinary course of business; and"; they found that they were George Kirch, The company's headquarters will be at 1210 unable to deliver. Therefore, there was some apprehension Carson Street, where it will open for business on Monday. that if they were pressed they would be placed in the gravThe resignation, on Tuesday last, of Mr, H. R, Newcomb, est difficulties; and not a little anxiety was felt when the Secretary and Treasurer of the Savings & Trust Company of settlement came on. The Stock Exchange Committee havCleveland, was followed by his election as Vice President of ing satisfied itself that most of those concerned had dealt in the institution, Mr, Newcomb's successor is Mr, J, R, Nntt, the ordinary course of business and in good faith promptly formerly Secretary and Treasurer of the Central Savings decided to avert what threatened to be a very serious break. Bank Company of Akron, Ohio, It is announced that Mr. They suspended for the time being the power of buying in, Newcomb will remain in active management of the affairs and they also fixed the price at which the shares were to be — of the institution. carried over at 140. — An addition of $350,000 is to be made to the present capital of $150,000 of the Dollar Savings Fund Trust Company of Allegheny, Pa,, raising the amount to $500,000, This was decided at a directors' meeting held this week '^^® & under the management of R, H, Boggs, PresiH. Voight, Vice-President, and E, R. Baldinger, institution is dent; C. Secretary and Treasurer. j —The eighth annual session of the Virginia Bankers' Assoelation was held at Richmond on Thursday of this week and 3 j There has been naturally a good deal of criticism on this, as it is a most unusual proceeding, and the critics allege that undue favor was shown to those concerned. The great body of opinion in the City, however, is entirely in favor of the action of the committee. Most people feel that the occasion was one in which the committee was justified in departing from the ordinary course, as it was impossible for anybody in London to foresee what has actually happened with regard to the Northern Pacific shares. Both Mr, J. Pierpont Morgan, who happened to be in London at the time, and Messrs Kuhn, Loeb & Co,, who telegraphed from New York, came proved an interesting event. The proceedings included an address of welcome by Judge John W. Woods, with reply by John Stewart Smith address by Augustus D. Lynch quickly to tne relief of the markets. They agreed to lend all report of the Executive Committee by the Chairman, J. L, the stock which they had themselves bought, and they enBilieoly, Cashier of the Bank of Portsmouth, Portsmouth, abled the settlement to pass over very smoothly. Va. report of the Committtee on Banking and Jurisprudence The City recognizes the fairness and public spirit with by the Chairman, Caldwell Hardy, President Norfolk Na- which both great houses have acted. And it is now hoped tional Bank, Norfolk report of Finance Committee by that the troubles are all over. ! ; ; ; j I ; THE CHRONICLF. 1064 [Vol. LXXII, There have been only two failures during the settlement, continue to employ as much as they are employing at presand they were small ones. One gentleman could have saved ent in London, always provided of course that rates here are himself if he had sold on Tuesday. Unfortunately for him not allowed to fall unduly low. Besides the Russian loan he refused to do so, and on Wednesday he was unable to find the Paris banks are loaning to the Government of Finland a buyer. Probably even he will be able to meet all hie 25 million marks, or IJ^ million sterling. And it is said that engagements when the market recovers. In five other cases negotiations are going on for the Swedish Government likethe checks of members of the Stock Exchange were re- wise. But it is believed that in all these cases the The India Council continues to sell its drafts fairly well. turned. It offered for tender on Wednesday 60 lacs and the applicarequisite assistance has been given. The settlement was almost unprecedented for the magni tions amounted to nearly 259 lacs. The whole amount tude of the accounts that had to be arranged. Pay-day was offered was allotted at prices ranging from Is. 3 29- 33d. to Wednesday; and from the Clearing-House returns which Is. 3 31 32d. per rupee. were issued on Thursday it appears that the clearances on The following return shows the position of the Bank ol Wednesday amounted to the enormous sum of 109 millions Sngland.the Bank rate of discount, the price of consols, &c. 1901. 1900. 1899. 1898. sterling, being 20 millions sterling in excess of any settlement May 15. May 16, May 17. May 18. S £ £ and of any previous date. It is a remarkable proof of the Circulation 89,663,780 29,349,370 27,681,830 87,419.310 Pnbllo deposits 614.9HI 6 11,467,538 11,938,«69 a«15.778 soundness of the Stock Exchange and of the general prudence Other deposits 46,462,767 40,9U4,»11 37,461,029 43,1*6,963 lt,BlK.87H aovernment 13.758,206 13,373,128 13,186.«53 secnrltles with which business has been conducted that under such other securities 83.97f,941 81,234,057 34,100,510 84,S10,099 21,';57,060 Reserve of notes and coin 88,269,700 19,3«0,1&6 25,441.465 circumstances no more serious troubles occurred. Coin & buliion.both departm'ts 36,15«,480 83,831.420 80,801.P8a 36,090.765 As a matter of course, the circumstances being such as they are, there is practically nothing doing upon the Stock Exchange, although it is everywhere believed that a settlement of the railway struggle in the United States will soon be arranged on equitable terms, and that then there will be rapid recovery. Upon the Continental bourses there is likewise very little doing. Indeed, the only incident of any real importance is the conclusion this week of the negotiations in Paris for the long-talked-of Russian loan. On Thursday morning the prospectus was issued, from which it appears that the contract for the loan was concluded with the Messrs. Rothschilds alone, although all the great banks will co- operate and will receive subscriptions. The loan is for a little under 17 millions sterling, bears 4 per cent interest, and the issue price is It will be brought out on Wednesday next, and no983^. body doubts that it will be a success, as not only are all the great banking houses of Paris, Jewish as well as Christian, united in its favor, but likewise the Government has used its influence on its behalf. There are rumors that the Russian Government is negotiating already for another loan in Germany, though some doubt has been thrown upon the rumor. It is probable, however, that if a loan cannot be raised in Germany recourse will be made before very long once more to Paris; or if Paris fails then another attempt will be made to borrow in the United States; for it is certain that the 17 millions sterling will not go very far to supply all the needs of the Russian Government at present. In addition to its enormous naval and military expenditure, its famine relief, its great railway works, and its operations in China, it has to support practically the iron, steel and coal industries of Russia, which have been passing through a grave crisis for fully twelve months. Moreover, it has to keep up all the banks, nearly every one of which has locked up too much capital and could not have continued business without assistance from the Treasury. Early in the week money was in very strong demand in London. Several of the banks refused to give their ordinary accommodation, being alarmed by the panic on the New York Stock Exchange and the fears of failures here in London. They carried their apprehension altogether too far and placed their customers in some Instances in an awkward position. Money therefore was very scarce and dear and very large amounts had to be borrowed from the Bank of England. As the settlement has gone off smoothly the banks have begun lending and discounting freely once more. Money has become easy and rates indeed fell on Thursday quite unduly. It is improbable, however, that the ease will last long, for the market is not very well supplied. The instalments on the Government loan falling due every month will transfer large amounts from the outside market to the Bank of England. Moreover, it is to be borne in mind that the French banks are employing considerable sums of money in London at the present time and that if rates were to fall away those banks might probably withdraw much of their capital, which would at once send rates higher. As it is, the general expectation in Paris is that the French banks will not withdraw any money from London firstly, because they have plenty of funds to supply Russia, and, secondly, be; cause it is not to their interest or the interest of the Russian Government In all to disturb the London money market at present. reasonable probability, then, the French banks will E*rop. reserve to liabilities.. d. Bank rate im 4 89M 101?^ llOH a7e.i6d. 28 i-iaa 216.129,000 489g 4 94)^ o, percent. 2M percent Oonsols, Silver.....?. 239,843,u00 Olearine-HoTise returni 40 4 3 178,371,000 26 7-l6d. 171,078,000 The Bank rate of discount and open market rates at the ohief Continental cities have been as follows: Open Market Bates London. Bank 1 Irade Bills. 4 Months. Months. 3 6 Months. 1 9-16 3H 3^®3 9-16 7-ie@3k 3 7-16@3i^ S?6@3J< April 20 " 27 3]4@3 9-16 May 8 4 8^®3 7-ie®m 11 3H " 18 39^(33% May May 17. 3J^@1 8%@4 3M®4 SH 3H 4 4^4 >4 Call Da/y» 2^ 2U 8 »^ 2X 2H 2^ 2H 4 4 aH®m ?9i@3% money have been as for Joint DiB'tH's. Stock At 7-14 Bills. ZMos. 4Mo«. Banks 3H •' The rates 3 Interest allowed for deposits by . 4@4M m 2H follows: May 10. Apr. 26. 3. Rates of Interest at Open Bank Open Market Rate. Market Bank Rate. Paris Berlin 3 Hamburg 4 Frankfort 4 Amsterdam 3H 3H m 3H B% 3% 4 Brussels et. 5« 3« Petersburg.. Madrid Copenhagen. Messrs. Pixley May 3« nom. 3« 5« SH 5 5 & 4 Open Rate. Market m 3 2H 3 4 3 3 8 4 4 3J^ 3H 2M 3H 3J< SJ< 3^ 4 s« Bank Open 4 4 2« 8« 6 .. an 3 4 4 3H 4 Bank Rate. Market 3H 3« 3H 3M 4 SVfi 4 m 3H 4 nom. nom. 5]4 nom. 3H 3« 3H 3« 3M 5 5 5 6 5 Abeil write as follows under date of 16: Gold-Th« demand for India has more than auffloed to absorb all There has been, in addition, an Inquiry for the Continent, has for the time being been satisfied by the shipment of £200,000 from New York. The Sank has recelvpd £14,000 in bars, and *7. 000 has been sent to Brazil. Arrivals: West Indies, £11,000; Australia. £25,000; Cape Town, £3,000. Total, £39,000. Silver— The market has been an Improving one in spite of fears that the money position in New York might lead to realizations on this side. The Straits have bought a fair amount during: the week and supplies continue scarce. The market closes 27381. firm. The Indian price is Rs. 70% per 100 tolahs. Arrivals: New York, £180,000; West arrivals. but this Indies, £6,000; Australia, £3,000. Total, £189,000. Arrivals: Bombay, £ 130,000; Calcutta, £5,000. Total, £135,000. Mexican Dollars— These coin still remain a nominal market. Shipments Mexico, £5,000. : The quotations GOLD. London Standard. for bullion are reported as follows: May SILVEB, 16. 9. London Standard. d. «. 77 U. 8. gold ooin...oz. 76 Qerm'n goldcoin.oz. 76 g^ench gold ooln.oz. 70 oz. 70 Japanese yen Bar gold, oz. fine — May May May s. 914 77 4 5 5 4 76 76 76 76 d. 914I 4 5 5 4 16 9. d. d. Bar silver, fine... oz. 2738 2714 2738 Do 2 mo. delivery 27ifl Bar silver, oontain'g do 5 grs. gold.oz. 27 ''s 275t do 4 gre. gold.oz. •2Mlip 2738 do 3 grs. gold.oz. 17^ ''^y,ii« 2938 oz. 29i« Cake silver Mexican dollars. oz. 27%' 27 S^ Nominal. * The following shows the imports of cereal produce into the United Kingdom during the thirty seven weeks of the new season compared with previous seasons: IHP0BT8. 1900-01. Uiip'rtBOtwheat,owt.49,263,l00 16,075,500 Barley Oats' 15,217,800 Peas 1,875,030 Beans 1,203,340 Indian Corn 38,808,300 Flour 16,277,600 1899-00. 41,623,800 12,438,400 12,863,100 2,051,000 1,340,000 40,907,800 14,969,200 1898-99. 1897-98. 42.562,150 45,272,510 18,526,443 15,810,694 10,099,520 10,544,560 1,693,330 1,880,320 1,463,200 1,958,210 38,669,360 35,779,700 16,464,030 15,658,630 Supplies available for consumption (exclusive of stocks OD September 1): Wheatlmported,owt.49,263,100 41,623,800 42,562,150 ImportBof flour 16,277,600 14,969,200 16,464,030 Salesof home-grown. 19,0 27,300 24,663,439 25,500,000 1897-98, 45.272,510 15,558,630 20,677,641 84,526,180 81,503,781 4d. 4d. 45s. lid. 3^. lid. 1900-01. 1899-00. Total .84,568,000 81,256,439 258, lid, Aver.prloe wheat, week. 278, 3d. Average price, season. 278. Od. 26b. Od, 1898-99. 25s. 26b. — June 1, THK CHRONICLE. Thitweek. are.. .3,190.000 Wbeat Floor, eanal to ars... 360.000 qrs... 730.000 Maize..-. 375,000 655,000 330,000 690.000 1899. 3,110,000 330,000 620,000 EiiKllsIi Ftnanclal market*— Per Cable. The daily closing quotations for securities, etc., at London are reported by cable as follows for the week ending May 31, Mctn. London. 8a i. per ounce ITht Consols., new.2\p. d. ots. • : •• Fr'oh rentes (IB Paris) It. 101 40 .......• Bnanlnh 4fl Tuu. Wed. TAurf. 271a gs'e 93i6ia 27 •« 93Bg 9338 27ifl Atob. Top. & Santa Fe.. ...... Preferred. ... Baltimore & OMo Preferred ............ 7858 99 104 1 9514 IO514 Canadian Paolflo Chesapeake & Ohio.... Ohloa. Great Western.. & Den. Do £ile, & Paul... Rio Gr., com.... do Preferred. Chlo. Mil. 162>fl 8t. >-t common .......... Ist preferred ......... <fe Nashville.. < Northern c S & 1 tl c y & Western do > c O Preferred. ............. W. Y. Cent'l & Hudson.. N. Y. Ontario & West'n Do c C3 Mexican Central Mexican National Mo. Kan. & Tex., com.. Norfolk 1— O Central LoulBvllle pref. v\ : & 71ia 571a 136,803 86,150 OlilaaRO : : : : preferred Deb. "B" 846.520 44.820 10,080 12.200 S1.516 188,289 75,108 149,298 6.900 19.169 71,^92 86,658 34% St. 80.19S 203,696 162,865 325,070 281,693 33% 52 "4 53 91 Ptorla 11,560 22,030 270,000 381616 481600 189.600 224,260 138.300 60 'e isi""' 155 59 154 yoia 01«T«land LonU • • . . .... Eaniai Oitr- 102 »« IO2I4 Tot.wk.l90i 72% 74 14 2114 22 22 38% 3878 27 48^8 22*4 3938 271a ^a^^e wk.'OO. )Bm« wk.'99. 27i« : : 841a 102 105% 90 45 90 >« 6,602 6.600 6.250 12.4 10.400 .3 25 44 70 43 68 ... 4.026,882 l.«33,870 2,73M09 178.760 297.938 8S8.C8i 3.342,837 2,726.063 4.675.668 219,223 81.703 63 05.G8J 28,C77,598 8,755.179 80.639,457 24,8f 6,«J31.963 874 0,975 057 The receipts of flour and grain at the seaboard ports week ended May 25, 1901, foUow: for Fiour, Stetivtmt— Hew York 45 70% Soston Montreal Nortolk 3alTeiton Cortland. iu$h. 129,997 66,468 8,067 74,180 111.029 2,670 17,136 66.032 Bvt. hMih btii?i. 1,069,900 382,870 88,000 > 8)J7,146 • 80,475 . . 78,246 C0.132 71,765 172.3*4 10.838 S18,W20 64.162 60,000 15.457 170,750 Me 2,148 Total weak traek 1800 478,515 489.631 • • g.fi.QrtU 60 081 65,184 60.000 Quebeo • 719.200 608,256 2S7,348 198,620 672,748 100,370 70,6U0 1.862,160 l.S05,370 5^6,833 179 192 319,f35 20.1(0 257.000 40,000 B«ri«v Oat$. lunh. Corn, bu$h. tvneat. bblt. 4,841,135 3,481,346 7.682 2,176,97ft 2,572,493 8,636,361 111,248 10d,813 1.791,812 Beoetpti do not Inolade sraln pattUiE throxuh on thronsrh billi of ladlns. N«w 137 16T 172,060 Orlaani for torclcni •orti 1900. 1899. Total receipts at ports from Jan, follows for four years: 1898. $1,600,288 8,981,175 $1,572,417 8,136,999 $1,570,439 8,580,968 $1,149,852 6,677,358 $10,561,463 $9,709,416 $10,151,397 $7,827,210 1. $56,202,173 180,655,841 5,056,248 the FOBEION IHFOBTB. $45,279,637 186,527,674 2,864,228 2,465.6£8 16,581,232 198,536,928 178.357,959 143,878,573 17,763,619 188,742 387 186,23S.3C4 189,145.820 12.478.184 242,213.4=6 177,671,212 146 3.59,999 Philadelphia 1901. 869,613 831,278 1. 1800-1900 1808-1899. 871a "90^'" 1091a 911a 46I4 48% 96I4 9313 251a 46I4 96*4 9512 2312 1900-1801. 55 32 29% 29ifl 8oifl «n««4ui. Exports foe the Week.— The following are the imports at New York for the week ending for dry goods May 23 and for the week ending for general merchandise May 24; also totals since beginning first week January. Gen'l mer'dlse 28.425 21,750 Ottrolt a.nd Dry Goods 78.850 rolado aiohmond Jlew OrleaM* 'Newport Nawi Total Since Jan. 67.8C0 201,600 III4 301a 97,000 Baltimore Oen'l mer'dlse 2,818.846 23.400 16.942 III4 28% Price per 8har<> Dry Goods 8,830,954 4.016 168,922 40.0C0 72% : : pref.. For week. 849,675 121.600 oo.ose Ulnneapolls. 143 142 106 ifl t«. BbU.19eibi Bxuh.OOlbf Bu*)t.e61bt Bu«h.S2Ib> auihAsibi B«.B0|^- 102 •« 101 »9 : : Wabash Imports Barln- 27 106ifl 32'8 51I4 9014 OaU. Corn. 10738 lOl^a 25 "s 10% 27% Wheat. riour. 26 142 58 70 ««M«*tl Ct- itllwaiike*.. Onlntta 142 151ifl 42% 66I2 48 Preferred .... .. U. S. Steel Corp., com.. * 2288 1G6 50 97 43 164 42% 70 56ifl 72% : Preferred.............. Union Paolflo Do Do 961a 451s 9514 4II4 $1,311,609 1,621,490 1,463,342 Breadstnffs Figures Brought from Page 1094.— The statements 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 May 25, and since Aug. 1, for each of the last three years have been ios""' I0914 51 164 45 94 : South'n RaUway, com.. do 108 5OI4 2208 $82,631 59,831 152,844 1,''94 200 Faciflo, com.. Preferred. ............. Pennsylvania........... •Phlla. & Read *Phlla. & Read. ,1 st pref Read., 2d pref. *Phlla. Southern Paolflo Do IO6I9 9614 68% pi cc 2d preferred Illinois 100% 2214 2,949 81,054 1,090,291 301,984 19,137 lOifl 81 8314 1021a 49 $879,223 $21,541,844 881.785 20,396,323 1.022.305 20,329,077 ^11 other countries. 223 836 6938 10i« 105 1.016 2,491 West Indies Mexico South America Of the above imports for the week in 1901, $2,467 were gold coin and $420 American silver coin. Of the American 9313i8 9418 exports during the same time $:i52,000 were American gold 011713 coin and |9,275 were American silver coin. 69% 10 81 Anaconda Mining 76,729 Germany $14,937 3,883 2231 277,fl 935s 6S58 SinceJan.l. $867,585 $21,132,898 238,899 900 '11,638 144.390 21,250 Great Britain. France. Total 1901. Total 1900. Total 1899. Week. Ffi. 9311a 10115 10115 : Since Jan. 1 Week. 1900. 3,045,000 Importt. Silver. » Latlweefc. 8,270,000 : : 1065 Szportt. of wheat, flour and The following shows the quantities maize afloat to the United Kingdom: Silver, . . . 1901.] $45,837,078 174,970,045 $42,708,288 143,892,723 of— 1 to May 35 oompare as 1001. 8,607.327 1000. 8,616.102 1800. 8,341.307 1808. 8.075,033 ifhflat. .bnih. 45,8f5130 lorn... 3ati... SarleT. 67.664,957 3?.747.607 75.239,«72 27,636,8 19 43,2^7,160 97,423.418 43,S»3,S!!5 194,816,066 iiietiyti bbU. flout «T« Total 21 weeks 1231,807,311 $236,858,014 $220,807,123 $186,601,011 2,608.772 1,286,481 6,y4.S.827 9b9,4e2 40,0S3.899 6a,18w,173 29,249,120 1,H50,752 3,304,298 162,895,146 142.466,417 113,127.242 84.989,>'08 Total sralB. '• 2,f63.820 The exports from the several seaboard ports for the week The following is a statement of the exports (exclusive of from the port of New York to foreign ports for the ending May 25, 1901, are shown in the annexed statement Wh$at. P*at Btrlty Corn, Oatt. week ending May 27, and from January 1 to date. Flour, buiih MSBPortt from— btuh. hush. tiuih. bblt. bu$h. buih. ««WTork 743,562 84.852 148,765 48,282 8,337 BXPOBTB FBOM NBW TOBK FOB THE WEEK. 87M48 , specie) aoiton For the week.. Prev. reported Portland, Ma. Philadelphia.. 1901. 1900. 1899. 1898. $10,669,557 203,944,439 $9,775,023 241,083,589 $5,971,599 184,199,585 S9,963,132 192,288,168 Baltlmora Naw T0tal21 weeks {214.613.996 $250,858.612 8190,171.184 $202.251.300 NOTE.— A.8 the ttguroB of exports as reported by the New York Custom House from week to week frequently show diver"-enoe from gie monthly totals, also compiled by the Custom House, we shall from time to time adjust the totals by adding to or deduotlnK from the amount "previously reported." The following table shows the exports and imports of specie at the port of New York for the week ending May 25 and since Jan. 1, 1901, and for the corresponding periods In 1900 and 1899. JSxports. Week. West Indies Mexico South America AU other countries. Totall901 Total 1900 Total 1899 Quebec 9 513,000 "i',603 2,000 260'006 Since Jan.l. $1,764,851 14.157,488 1,520,003 619,178 29,680 17,595 699,000 $766,003 $18,707,795 1,478,920 19,400,413 760,984 6,133,033 Week. 9 1, $ 199,755 "*7.75"i 3'i8".34S 10,566 7,698 6,092 343,898 39,851 $31,107 22,593 473,314 $1,027,175 1,237,468 6.914,474 .... 398,896 68,032 207.718 The destination Sept. 1, Mmyortifor and line* 8»pt. I to— CTnlted KinRdom A C. America. 805,830 1,206,531 93<«,069 861,262 16,976 69,506 60.16S 81,407 110.179 146,821 70,492 54,913 81,407 101,247 week and sinoe : -nour.Sin$4 S*ft. Wetk May 60,000 247,713 7.634 of these exports for the below 1900, is as «•«()( 209.633 59.0*1 235,400 170,000 6,050 80,000 Clme'OO., 2,617,560 4,995,985 Other oonntrlei Since J an. /...,-.6i.880 66.134 1«,0S2 2,143 80,628 44.877 6.660 in2,858 401.182 41 139 16,457 Total week.. 2.798,167 1,717,235 Same Wait Indies Br.N.Am. Colo'i Imports. 6old. Germany QatTeiton. 3. HEW TOBK. 825,959 Norfolk NeWD'rt Nawi 40.000 8X1,313 Uontreal JontUient BXFOBTS AND DCPOBTS OF BPBOIB AT Great Britain... France Orleani.. 862,141 96.962 160.243 440,943 216,000 ^5. bblt. lt<6.483 77,004 19.515 12,387 584 907 I. 1900. bblt. 8,614,429 1.622,353 .-. Whmt. W»tlt May2i. buth. 1.531.336 1.266,838 77:>,5S9 857,641 70,251 244,826 Total 805,830 12,065,083 Total 1809-1000.. 361.862 11,444,911 2,798,167 2.<<47,660 , Bint* Sept. 1, IMOO. Week Man ib. Binti B*9t, 1, lkK>«. buth. ^u<h. buih. 44 778,809 1,276.7^1 66,5^8.397 399.129 63.U23.794 33,660,693 8.731 726,755 26.765 8i.ll2 767,301 90 320 183,197 6.163 709,898 804,616 78,768,778 1.717,236 131,043,642 0<>.102.5i«0 4.996.V36 U6,307.84S The visible supply of grain, comprising the stocks in granary at the principal points of accumulation at lake and seaboard ports, May 25, 1901, was as follows: Oatt. Barltt Corn, Bte. WKft, In etort at— buth. buib. buth. buth. buth. NawTork 787,000 SO.OM 190.000 «59,OO0 818,000 Do afloat 87.000 Boston PhUadalphla Baltimore New Orleans Qalreaton 5S3.000 364.000 633 ooc 800.000 816.000 189.000 ss2,jog 06«,000 140,000 427,000 190,300 609,000 • ••••»-*« a ••«•*«« 21.000 -• . 7 V . In store at— Monti us Do Corn, 281,000 50.00C 10,000 Rve. Vats, Barlei, buiK hush. 61 «0 onr 479.100 7.000 S.CUU.OOC S92.066 108.000 413,000 169,000 ""i.bbo l.oo'i 211.CCC 147,001 " "5, no 2.00C 7.616.00C 6.97i5',bo6 8.699,006 517.0bt f'sz.i'io 841,000 8,519 000 1,160.000 86.000 1,4H6 "" 116,000 t BnOalo Wheat, hu»h 868,010 1.000 824,000 Toronto... Toledo iKooo afloat Detroit Do afloat Do Adoat MUwaakee afloat Do Olloago afloat Mlnneapolli Bt liOUl« Do l2,620.uo409.' afloat lanBaiClty P«orla iBdIanaPOlli rlrer. May 25, iMny 18, May 211 Tata) May 87. Total May 28. Total lOliii Toltti -^ 830 000 «7,0C0 688,000 190 HOC M-uo 4l.0l,'(- 97.000 «0.oo^ 2,751, too «7»,0OU OnMiBilMippiBlTer. OnLakei Od canal and 25, based on averages of the daily result. omit two civhers ^00^ in ni nnses We BANEB. Capital (008 omitted.) .. 1901*. 1«01». ItWOt. ISBPt. 42 4»^000 4^,765 000 yi.iwaoio 1898+ 23.674,000 Mkw foBK . Manhattart, Colonial 19,0C( Oolumbla 269 OGC 41,00' 7,0'; 18,0fi( Bleventh Ward.... Fourteenth Street. Qansevoort.. Uauillton Uount Morris Mutual $ 100,0 300,0 100,0 100,0 200,0 200,0 350,0 200,0 300,U 100.0 100,0 100.0 200,0 100,0 200,0 100,0 100,0 200,0 ,, 393 000 Plaea Blverside State 21,000 23. 00' 15.000 105,C00 31.000 19,000 10,43S.OOO 699,000 l,06l,COt 10,7/!4,0CI0 11,78-5,000 bU2.u<iu 918,000 l.C67,0O0 9(4, OOC IHl 000 853,010 1.095,000 15.820.000 15,eiS 000 12,t1^7,000 18 775,000 20,116.000 7,(-8<,000 7,lfc7,000 6 9 000 1,466,00(' 608, 00< 1,420,000 .;. Twelfth Ward Twenty-third W'd. Onion Square YorkvUle Washlnfcton FldeUty Varick ...._ Bedford Broadway Brooklyn aighth Ward Fifth Avenue Kings Connty Mechanics Mech's' & Traders' merchants' Nassau National.. National City North Side... Capital. Surplus S $ 2,000,0 Manhattan 3,060,0 2,000,0 filer chants' Mechanloa' 2,000,0 America 1,600,0 Phenlx 1,000,0 mty .....--*>>>• 10,000,0 300,0 Ohemloal 600,0 Herohants' Ex.. 1,000,0 Challatln 300,0 Bntoh.<& Drov'8' 400,0 Hech.<& Traders' 200,0 Sreenwlch 600,0 Leather KTts.. Beventh 376,6 Btateof N. T.... 1,200,0 American Bzch. 6,000,0 Commerce 10,000,0 Broadway 1,000,0 Meroautue 1,000,0 422,7 Paolflo Bepnbllo 1,600,0 Y... Co.. Chatham 460,0 200,0 People's North America. Hanover 1,000,0 3.000,0 600,0 Irvlnsf 600,0 Citizens' Nasaan. 600,0 Ifarket&Folton 900,0 Shoe <fe Leather. 1,000,0 Corn Exchange.. 1,400,0 Continental 1,000,0 300,0 Oriental Imp't'rs'&Trad. 1,600,0 Park 2,000,0 260,0 £ast River 3,000,0 Fourth 1,000,0 Central 300,0 Second 760,0 Ninth. 600,0 First 300,0 N.T.Nat'lExcli. Bowery 260,0 200,0 760,0 N. Y. Connty.... German Ameri. Fifth Avenue... 1,000,0 100,0 German Exch... 200,0 200,0 300,0 Gterm aula,. ...... Lincoln 1,000,0 Ctarfield 200,0 Bank of Metrop. 300,0 200,0 West Side Seaboard. 600,0 Western 2,100,0 1st Nat., B'klyn. 300,0 Iiiherty 600,0 N. T. Prod. Ex.. 1,000,0 NewAmsterdam 260,0 ABtor 360,0 Hide Leather. 500,0 Fifth A Ltgals. Bpecii 9 2,094,1 2,133,'.! Deposits, g^/p, 9 18,860,0 21,878, 12,618,9 14,432,0 2f,408,6 (.' $ 1,558,0 2,208,0 1,677,2 979,0 3,127,0 6,519,0 '2, IK 7, 2,496,0 1,121,8 2,313,3 S,0ii3,4 3,021,3 248,1 4,939,(' 1,110,0 6,160,1 103,668,8 29,895.6 8,997,3 34,485,5 5,064,0 236,1 4,1)76,8 801,1 1,932,0 9,723,9 1,269,6 72,1 1,012,4 343,2 122,6 2,610,0 817,0 177,9 1,047.4 132,1 602,1 6,418,1 1,355,8 234,4 4,311,7 568,3 694,0 674,4 6,937,8 3,186,9 32,352,0 7,612,0 6,940,1 71,311,6 8,183,9 616,2 1,613,2 6,329,6 l,333,^ 16,073,2 2,020,4 2,841,9 498,1 213,9 1,223,8 17,692,2 3,853,4 994,6 6,468,4 677,9 346, 2,130,1 256,9 927,8 12,213,8 1,456,3 6,379,8 48,944,6 8,793,2 461,6 4,289,0 586,6 389,8 768,2 3,275.4 286,C 2,877,6 316,6 927,0 6,266,2 1,101,6 219,0 836,7 3,730,7 1,770,3 19,696,0 3.451,0 25,0 491,6 371,0 2,12-2,6 221,6 400,5 6,089,6 23,422,0 4,574,0 3,727,4 49,188,0 18,851,0 166,5 1,321,4 277,0 2,631,1 23,972,0 2,682,0 626,2 10,699,0 1,851,0 9,769,1. 942,6 1,632,0 2,724.6 543,5) 80,0 43,947,9 9,616,1 14,256,9 118,6 3,387,5 698.4 723,2 3,674,0 390,0 474,1 3,900,6 814,0 3,488,4 481,9 376,6 2,442,6 36.467,4 9,026,7 9,622,3 3,709,6 1,339,9 220,7 2,326,7 648,6 846.3 3,009,8 413,8 967,6 13,144,2 2,276,4 7,837,V 1,722,8 1,119,8 2,264,7 362,9 472,9 7.730,6 1,212,4 1,047,1 3,839,0 429,8 461,0 884,6 14,446.0 2,518,0 2.148,1 36,948,5 8,626,6 4,402,0 614,8 345,0 680,2 6,478,2 1,020,4 4,661,0 414,6 733,7 647,1 7,376.6 1,089,6 4,206,0 647,6 339,3 608,2 343,2 2,896,6 2,'.i97,3 190,0 6,414,2 2,260.2 699,8 928,4 88.6 252,0 177,0 148,5 571,2 443,2 2,064,0 7,099,8 336,3 1,680,3 620,0 1,695,9 990,8 439,0 1,451,3 6,783,1 448,6 213,3 391,8 801,8 249,6 2,390,0 33,6 483,0 1,342,0 3,660,0 214,8 3,229,6 1,408.0 987,0 261,9 2,024,8 334,4 379,0 406,8 264,3 1,974.2 199,9 773,6 636,4 1,801,7 266,1 121,9 833,6 360,0 1,966,0 2.676.9 812,0 625,0 407,0 735,7 210,4 97,5 P.O. 18,663,0 251 31-7 14,877,3 24-9 16,131,0 22-9 22,668,1 23-8 4.917,0 364 120,40'2,8 30-1 24,858,3 29 3 5.541,5 252 8,363,1, 26-8 1,260,3 34-4 2,890,0 19-6 1,001,2 30-8 6.682,9 26-4 4,869,0 23-1 6,576,9 20 80,086,0 321 6i,986,l 24-6 5,152,1 18-4 14,776,4 260 3,686,7 23-2 19,167,1 36-3 6,832,0 25-1 2,827,7 24-6 12,540,3 231 63,485,9 27-2 4,337,0 23-8 3,67«,7 27-4 3,288.1 21-6 6,655,7 35-9 4,244,7 25-6 23,136,0 25-2 171,3 34-6 2,240,fc 31-4 21,976,0 36-9 67,187,0 33-4 1,690.0 30 9 24,'/ 66,3 33-4 12,961,0 26-1 10,633,0 23-6 3,102,3 26'9 60,267.6 3i'i 3,600,2 25 9 3,860.0 19 9 4,857,6 25-1 3,889,4 22 43,263.0 25-4 11,104,1 28 1 3,300,9 30-1 4,594,7 20-8 16,781,1 26-8 8,053,0 34-5 2,346,3 26-3 8,636,6 23-6 3,118,0 26-3 17,683,0 26-4 42,866,6 261 4,659,0 24-8 6,328,6 34-4 4,663,6 360 8,489,1 21-6 4,117,4 20-d 2,198,0 32-1 27,5'.i6,0 76,099,3 96,927,4 858,872,6 1800672 76,601.0 941,116,9 27-3 Total. New York we Loan«. City, Boston & People's Schermerhorn Seventeenth Ward Sprague National.. Twenty-Blxth W'd. Union Wallabout Borough of mchmnnd. Bank ol Staten Banes. Other Cities. IstNat., Jer. City. Hud. Co. Nat., J.O. 3dNat., Jer. City.. SdNat., Jer. City.. IstNat., Hoboken. Nat., 2(1 Totals Totaih ToralB Hoboken. May May N. Y.' Hay " " " $ Specie. " " 11.. 18.. 25.. Fhlla.* May Deposits.^ 71,966,3 97?,111,6 72,739,6 977,490,9 74,317,6 951,626.7 76,601,0j941,116,9 67,633,9 195,507,0 15,789,0 67,633,9 193,377,0 16,690,0 67,633,9 198,226,0 16,297,0 8,380,0 231,783,0 8,566.0 220,976,0 8,669,0 214,881,0 890,460.4 897,716,9 873,512,1 868,872,6 Bos.* Kay Legals. 9 9 Oirc'l'n. Olearingt $ 31,132,9 31,081,1 31,109,0 31,104,7 $3,'" 60,2 86,0 536,2 731,1 400,0 250,0 250,0 200,0 110.0 126,0 906,4 570,4 320,6 1361,6 1627,7 1320,6 389,9 726,0 772,6 2929,7 132,1< 31,1 ^1,8 94,4 10,7 27,3 46,4 27,7 24,7 174,2 136,9 70,0 31.6 300,0 288,0 62,0 46,6 32,3 40,4 10,0 23,1 64,7 21,4 13.2 46,1 22,3 10,0 6,1 176,0 133,0 10,9 31,6 16,2 9,4 4816,6 268,0 1972,0 69,2 1230,2 68,2 900,6 48,0 2002,1 100,8 819,2 29,7 241,(? 458,8 109,2 By I 191.5,0 189,0 176,0 149,5 193,4 110,6 141,8 319,7 169,7 293,4 74,0 8,0 60,0 i6."6 6,0 61,8 38.6 66,8 77,0 110,0 199,8 63,8 508,8 110,3 48,7 23,8 87,0 170.0 6,7 77,9 20,0 4,7 3,2 1,0 1-20,0 2633,0 1346.9 1637,0 1189,0 1736,6 2984,9 1365,0 1764,5 2879,0 1183,6 3818,0 1860,8 1183.6 8030,3 1651.4 677,6 387,9 782,9 895.6 62,9 36,1 120,2 221,2 120,2 42,9 100,6 64.4 18,9 10,6 110 64 10 100 , 5,9 727 806,6 188,7 92,9 20.4 400,0 635,0 27,2 48,2 63,9 70,7 294,0 83,8 61,7 48,2 314 81,0 139,0 8,2 66,3 268,0 89,3 63,0 2,2 76,0 33,1 12,0 693,9 768,1 825.4 1227,0 163,7 41.7 248,9 272,4 42,6 137,9 6,0 78,8 4,8 6162,4 1586.1 1160,1 949,2 1681,8 822.6 78,5 169,9 Mnller & Son F&A; suar $10,000 Atlantic Ave. RR. -102»4 of B'klyn gen. consol 58,1931; A&O... II414 $10,000 Ne-wark, N. J., Water Supply 48.1922; M&N.U'^Sg&int $9,00«^ Rochester Gas Co. con. .'=8. 1912; & RR. ,.105 Co. gen. con. l8t5B,1909; M&N, 106 >e $5,000 Patersori Extension let 68, 1910; J&D 117 $10,000 Chic Wi8. & Minn. RR RR. Co let 6fl. 19it; M&-5.122 $20,000 Peoria Water Works l8C con. 8, 1943 50^4 $9,500 Atlantic Mutual Ins. scrip of 1901 .107>4 $ ,800 Securities Co. 48, con M&8 85 60 $500 Durland Co. 2d 58 SQS^^OO'H < 1 67.514 Safe Deposit Co. of N. Y.lSl Brooklyn Aoad.of Music. 121 Brooklyn Real Estate 1 N. Y. Life Ins & Tr. Co. 1355 16 Richmond Co. Gas L. Co. 115 5 Lawyers' Title Ina. Co...306 125 100 Alliance Realty Co 15 Merchants' Nat. Bank. ..196 15 Manhattan Co. Bank 315^ 660-670 25 Nat. City Bank 587ia Hank Park 5 Nat. 60 Nat. Bk. of Commerce, Eleo. M&N Hanover Nat. Bank Exchange, Limited 80 300 Satety Car Heating & ..138 Lightiag Co 228 Stand. Coupler Co., com. '-'8 100 Stand Coupler Co., pref. 115 400 Mount Hope Cemetery A8«oclatii)n..$l 50 per share 4I28, 190a; Right N. Y. Society Library <free from all an..$80 nual payments) 100 Gold & Stock Teleg. Co.. 121 35 Lawyers' Mortgage Ins. 1 , 20(-200i« Co 45 Lawyers' Incorporation Stocks Il2i.i 100 Phoenix Nat. Bank 22 First Nat. Bk of Bridge- 55 18 60 Co 10 Bank of port. Conn 196 39 Bridgeport Nat. Bank... 185 40 Boston & N. Y. Air Line Co., pref IO914 8 Bos. <fcN.Y. A. L.Co.,oom. 538 ^-52513 62 Bank of America. 523 By 1463,8 1660,6 1373,6 310.4 666,2 736,8 3331,4 3692.6 983,0 678.6 4100,0 3406,0 888.9 972.1 698,1 638,1 1102,0 612,4 700,4 826,1 stocks. 116H We H Messrs. Adrian J&J $2,000 Second 103,6 16.9 16,9 66,6 11,1 33,8 32,8 336,9 144,9 16,0 .S343,8 $3,0U0 Essex Co N. J . 3-65S. Park bdP, 1915; F&A.l04ii3&int. $3,000 Western Transit Co. ."S Bank N Y.. N. B. A.. .339 of the Republic. .292 . fO Trust Co. of America. 265-271 430 Brooklyn Wharf & Warehouse Co., pref.. Series "B"....$l C0-$1 55 per share 25 Farmers' Loan&Tr. Co. 1*95 Messrs. Richard V. Barnett & Co.: Slocks. 13 DanTalmage's Sons Company l^aufetttfl Spencer 27 & 29 95 ^n& fftttauctal. Trask BANKERS, PINE STREET, - - & Co., NEIF ITORK - - Transact a general bankinor business; act as Fiscal Agents for corporations, and negotiate security issues of railroads and other companies. Execute commission orders and deal in INVESTMENT SECURITIESBranch State Members N. Y Stock Exchange. Office, 67 Moffat St., Albany Alexander M. White Jb Oeoboe Babclat Muffat. 11.. 18.. 25.. Reports, of Non Member Banks.—The following is the Itatement'of oondition of the non-member banks for the 36,0 100,0 t 128,8 114,0 41,8 67.8 49,6 98 2 96.9 98,5 138,2 187,0 1396,0 1207,4 5,0 1568,8 81,9 2845.6 138,3 1355,2 25,9 1436,6 20,9 2725,0 188,0 1168,9 14,3 60,4 3361,0 262,0 131,0 1816,6 29,7 163,0 1046,0 38,8 92,0 2216,8 69.1 862,8 1624,4 68,4 105,0 605,2 7,6 31.0 437,4 11,6 20.9 784,4 9,6 46,1 417,6 4,3 36,4 111,4 4,0 21,9 00 B'wav Surface RR. 58, 38,716,3 175,994,0 56,137,0 208,603,0 9,861.0 115,764,6 38,716,3 173,116,0 66,162,0 206,646,0 9,844,0 131,046,1 38,716,3 172,308,0 66,760,0 203,936,0i 9,846,0 101.193.6 • We omit two ciphers in all these tlfures. t IncludlUR for Boston and Philadelphia the item "due to other banks." " " 1009.4 617,9 3926,0 2759.0 1004,8 956,0 397,0 669,6 1131,1 496,0 611,4 827,0 ^>ales.Jionds. guar.. 1924; 9 24640361 28630854 21294163 14813161 6,160,0 163,756,8 6,161,0 166,793.9 6,164,0 140,096,0 11 Auction Philadelphia Banks.— Below 9 1823027 1797607 1768891 1800672 168,387,7 171,028,7 18.. 171,028,7 36.. 171,026,7 4. 11.. Loans. 121,4 171,0 160,9 36,y 71,6 69,7 603,6 366,9 203,1 16,2 643,2 672,2 136,9 134,3 64,6 73,7 235,8 53,4 68,9 49,0 1180,7 S t 38,2 172.0 30,9 57,7 3062,0 8994,6 70252.1 3091,0 4179,6 8105.0 2699,1 76393.4 7962,0 8929,6 70184.2 3037,3 41«9.6|8666 4 2784,1 77088,1 79H'?.0 H832 1 89884.1 3106,01*180.310,099,1 2973.979769. 25 18 Mav summary of Capital <k Surplus. Isl l8tNat.,8taten Isl the weekly returns of the Clearing House Banks of New York City, Boston and Philadelphia. The New York figures do not include results for the non member banks. furnish a 160,0 100,0 300,0 100,0 100,0 150,0 262,0 600,0 100,0 100,0 300,0 300,0 100,0 100,0 100,0 100,0 200,0 100,0 100,0 100,0 t 1823,9 2576,0 aoro'h of Brooklyri. Manufact'rs' Nat'l. New York City Clearing; Honse Banks.—Statement of oondition for the week ending May 25, based on average of We omit two ciphers (00) in all cases. dailv results. 200,0 100,0 t 134,8 201,6 123,0 69,2 26,8 92,3 66,4 147,6 131,0 204,4 121,2 242,1 64,4 70,9 368,4 192,8 23,7 97,7 60.2 60,0 66,0 100. Jefferson Century : Oliase Bks.Jct City. Nineteenth Ward. 18,000 40,064,000 155.00r 188 00' Includes stocks In private elevators at Milwaukee. Stock 8 In nrlvato elevators at Milwaukee ncit Included. i Last week's stocks this week's not received. NoTK.— BeKiunInK July 1, lbwt», the New York Produce Bxchange has cban^ee ita Visible Supply Statement by Inoludlng stocks at New Orleans, Galveston. Ft. William and Pt. Arthur (previously omitted) and leaving oat Albany Osweeo and Cincinnati, formerly Included. BaniolN. Notes Agent. ments. (I • BANKS Loaruid. Leo. T.\jOepos%uwitn\ yg^ Itwesl- Specie. JeB'k. Olear'g Ot?ier|Depoi4t« pltM. Borough of , rtWill'mftPUAnlinr 1,729,000 «.C13(0C Dnluth Do 1,000 [Vol. LXill. week ending May afloat . Do : . THE CHRONICLE. 1066 & W^hite, BANKERS, Members New York Stock Exchange, No. 1 NASSAU STREET, - - - NEW YORK. INVESTMENT SECURITIES. Junk 1, THE CHRONICLE. 1901.] mium; mium. ©a^jette^ aufejers^ St. Louis, par; DIVIDENDS. of Cent Payable Railroads (Steam). Boston & Lowell Beach & Lynn Kovere Boston €hic. <fe Eastern Illinois, com do (extra).. do do pref. (quar.).. do do 4 J'ly J'ly .Fly J'ly .riy Philadelphia Wilmington & Baltimore. Pittsburg Bessemer <fe Lake Erie, pref. Street Kall\Tay«. Southern OhioTrac, Cincinnati (quar.) South Side El., Chicago (quar.) United Bys. & Elec, Baltimore, pref... 2 J'ne 2 to 1 J'ne 8 J'ne 15 J'ne 16 J'ueie J'uelO J'ne 16 J'ne 9 May 28 May 31 pref.(quar.) to to to May 26 May 30 to to to 1=>4 J'ne 2V2 J'ly Consolidated Gas, N. Y. (quar.) Continental Cotton Oil, com do pref do Continental Tobacco, pref. (quar.) Cramp* Sons (Wm.) Ship <feE.Blg.(qu.) International Paper, pref. (quar.) Republic Iron & Steel, pref. (quar.).. Safety Car Heating & Lighting (quar.) Southern Cotton Oil 2 J'ne 4 J'ly 7 J'ne J'ne J'ne J'ne J'ne J'ne J'ne 134 J'ly \^Z J'ne J'ly J'ly J'ly 2 W J'ne 4 5 16 May 31 .'>() J'ne 1 J'ly 1 J'ne 16 to J'ly Western .Stable Car Line, pref. $.5 $10 J'ne Tamarack Mining, t State, city and county taxes, not to exceed one-quarter per 2 J'ly J'ne 16 J'ne 30 .I'll.' 30 J'ne 30 May 29 4 J'ne 11 J'ly cent, to \<e deducted. FRIDAY, MAY 31, 1901.-5 P. lU. The Money Market and Financial Situation.— The volume of business at the Stock Exchange continues relatively small, but is increasing, and there are evidences of returning confidence as the disturbances caused by the recent panic gradually disappear. The railway traffic reports given out this week are unusually favorable in many cases, and tend to stimulate the confidence referred to, which finds expression in a broader interest in the security markets and a substantial recovery in prices. Considerable interest has been elicited in railway circles as lo the cause of a 21point rise in Delaware Lackawanna Western stock, from 233 on Monday to 244 on Tuesday, & known which about 22,000 shares came out. So conjectures in regard to the matter failed to find confirmation. Little or no attention has been paid to a farther outward movement of gold, the exports for the week amounting to $4,000,000. The reason for this is probably found in the fact that the money market is abundantly supplied with funds at the lowest rates that have been quoted for some time past. The open market rates for call loans on the iStock Exchange during the week on stock and bond collaterals have ranged from 2 to 4 per cent. To-day's rates on call were 3 to S}4 per cent. Prime commercial paper S% to 4^4 P^r cent. The Bank of England weekly statement on Thursday showed an increase in bullion of £779,378 and the percentage of reserve to liabilities was 50*10, against 48*31 last week; the discount rate remains unchanged at 4 per cent. The Bank of France shows an increase of 11,700,000 francs in gold and 1,450,000 francs in silver. The New York City Clearing-House banks in their statement of May 25 showed an increase in the reserve held of $5,361,600, and a surplus over the required reserve of $21,288.975, against $13,299,925 the previous week. far as all JHfferencea 1901 25 from May previous week $ Capital Surplus Loans & discounts Circulation Net deposits Specie Legal tenders Reserve held Legal reserve Surplus reserve NOTB.— Betorns $ 75,099,300 96,927,400 Doc 14,639,500 4,300 31,104,700 Deo 941,116,900 Dec 10,509.800 8.''.8,S72,(i00 180,067,200 Ino 70,601,000 Ino 3,178,100 2,183,500 256,568,200 Ino 235,279,225 Deo 21,288,975 Ino ot separate 1900 May 26 $ 72,322,700 87,979,300 792,921,000 21,9.-)9,500 876,610,300 166,712,400 1899 May 27 $ 68 622.700 77,386,700 745,923.400 13,765,700 889,705,100 20i;.H7r>,.-.00 71,2,-)2.600 69,483,600 5,361,600 2,627,450 237,964,900 219,152,575 266,3i;0,000 7,989,050 18,812,325 43,933,725 222.426,275 banks appear on page 1066. — Foreign tlxchange. The foreign exchange market has been strong on an ea.sy money market and a limited supply of bills. Today's actual rates of exchange were as follows: Bankers' sixty days' sterling, 4 85(34 8514; demand, 4 88.V4(a)4 SSi.S; cables, 4 89(ffi4 894: prime commercial, sixty days, 4 84i^(ifi 4 84;'4; documentary commercial, sixty days, 4 84 d) 4 85^4; grain for payment. 4 85 0)48514; cotton for payment, 4 84((|4 8414:; cotton for acceptance, 4 843^(^4 84:'4. The following were the rates of dorae'stic exchange New York on at the under-mentioned cities to-day: Savannali, buying 1-16 discount, selling 75c. premium; Charleston, premium; New Orleans, bank, $1 00 buying par, selling premium; commercial, 50@75c. discount; Chicago. 10c. pre- % * Less >i«. — United States Bonds. Sales of Government bonds at the Board are limited to$12,( 00 2s, coup., at 1063^ to 106^; $5,400 4g, reg., 1907, at 113i^, and .$10,000 4.s, reg., 1925, at 138J^. The following are the daily closing quotations for ytarly range see third page foUowivg, J'ne" 9 to 6 t<> 15 to 16 to 16 Holders of rec. to J'ne 18 to J'ne 5 1^ Street's in the course of 4 85><i 4 89 Prime 4 84>« 'S>4 84*4 Prime commercial 'S4 8.'5'4 4 84 Documentary commercial 5 17'a* ®6 17^2 5 15''9*'ai515-^ Paris bankers' (Francs) 40'« 'cD bankers 4038 ® 407i9 (guilders) Amsterdam 403i8 95718® 95>3 Frankfort or Bremen (reichm'kis) bankers 94>'Si8® 95 ; J'ne 1 May 23 \ J'ne 15 ,rnc 6 1 J'ne 2 2t J'ne >4 MiHcellaneouH. WALl.. STREET. Detnand bankers' 8t«rling bllla on London. Books Closed. (Days Inclusive.) Holders of rec. to 1 .J'ne 13 2 to 1 J'ne 13 1 to J'ne 13 1 l^ to J'ne 15 May 30 2I5 J'ne 10 .I'nc 1 to 1 Holders of rec. 3 J'ly May 19 to 1 3 J'ne 1 Del.aware<fe Hudson Co. (quar.) Little Miami, guar, (quar.) <fe 123^c. per $100 pre- Ma/y 31 When Per Company. Iron, Alabama Con. Coal American Thread, pref San Francisco, Posted rates of leading bankers follow: V^VW^^A^^A, Name 1067 Interest Periods 28, 28, 28, 28, 3s, 38, 3s, 38, 48, 4s, 48, 48, 5s, 58, Q- -Jan coupon Q- -Jan 1930 1930 registered 1930, smalLregistered coupon 1930, small registered 1918 May 26 27 Ma/y May 28 May 29 30 *109 *109 *109 •109 Is 31 •106 la 1063i •109 •109 *lfJ8i2 •iOSia •i08>i •i08"i *113Hi II31U *113Vj •1131a *113>a *113'2 *113>a *113>a * 138 *138 •1.38 1381a -138 •138 *138 *13Hia '10834 *10834 •10834 •108^4 couponlQ- -Feb * 10834 * 10834 •10834 •10834 1907 1925 1925 1904 1904 May ... ... Q- -Feb Q- -Feb Q- -Jan coupon Q- -Jan registered Q- -Feb coupon Q- -Feb registered Q- -Feb 1918, 8mall.regl«tered coupon 1918, small registered 1907 May *106i4 *106>4 *106'4 '106>9 IO6IQ *106i4 10614 *106>a Q- -Feb *109 coupon Q- -Feb 1*109 1918 •ThlB I the price bid at the morning board; no sale •109 '•109 M o I •1081* i*118>« *1181q I*138ia '•138I9 •108*4 1*108*4 was made. State and Railroad Bonds.— No sales of State bonds have been reported at the Board this week. The transactions in railway bonds have been on a limited scale, averaging less than $3,000,000 par value per day, but the market has been generally firm in tone and fractional advances have been the rule. Wabash debentures continued to be the active feature, at steadily advancing prices, and close about 3 points higher than last week. Standard Rope & Twine issues have become prominent for both activity and strength, the 6s selling up to 66, a gain of 8 points. The incomes advanced 2}.^ points. The active list also includes Atchison, Baltimore & Ohio, Burlington & Quincy, Reading, Southern Pacific and Union Pacific issues. Stock and Bond Sales.— The daily and weekly record of stock and bond sales at the various stock Exchanges, formerly given on this page, has been transferred to a place by itself. It will be found to-day on page 1074. Railroad and Miscellaueoas Stocks.— The stock market has steadily increased in activity since Monday, when the transactions were the smallest of the year thus far, and the tendency of prices has generally been upward. Lackawanna was the conspicuous feature. It sold up to 244 on Tuesday, which was 21 points above the opening price on Monday and 50 points above the average selling price during the month of March. Various rumors have accompanied this advance, none of which can be verified and about all of which are officially declared to be without foundation. There has also been an advance of fli^ points in Minneapolis & St. Louis, 6 points in Chicago Indianapolis & Louisville, 7^ points in Southern Pacific, nearly 5 points in Iowa Central preferred and over 7 points in Twin City Rapid Transit, the latter based on the increased earnings. Other active railway issues advanced from 1 to 3 points. There were wide fluctuations in several industrial stocks, nearly all of which show a net gain. Continental Tobacco and Consolidated Gas were notably strong. American Linseed Oil and Sugar Refining were weak. Outside Market.— Trading in the outside market has been most of the week, though the tone lias been strong. To-day the Stock Exchange market showing increased animation, the curb market was also much more active and quotations generally moved upward. Thursday being Memorial Day there were, of course, no dealings oq the curb. Early in the week the most active stock was American Can, and on Friday this stock led the market, about 4.Q00 shares of common and about 6.000 shares of preferred selldull ing at from 25X to 26 >^ for the first named and 75 1^ to 76^^ for the latter. These prices are an advance of from i< to 1 point over last week's closing. Among other stocks showing a gain Compressed Air rose from 13}2 to 17-^4 and closes today at 16)^ Electric Boat, on rumors that a foreign Government would shortly place an order for six boats, moved to 20 for common, a gain of 4 points, and the preferred went to 45. Diamond Match rose from 137 to 138 and Standard Oil closed at 793, 8 points higher than last week. International Power preferred has been bid up to 160 without sales. Of the bond issues dealt in on the curb Standard Milling 5s sold at 71. EriePa. Coal 4sat 94(a94t^. American Malting 6s at 95V^«a96J^, and $100,000 of Washington Traction 4i.^s changed ownership at 66. New securities this week were American Locomotive subscriptions at 110, Universal Tobacco common at 21(ai'23 and preferred at 65 bid. American Beet Sugar common, which is listed but seldom sold on the Exchange, was traded in the outside market at 27^^^. New York AutoTruck, new to the curb last week at 5?^"to 3?^. dropped this week to l^g. The list of outside quotations will be found on . page 1074. . New York Stock Exchange— Stock Record, Daily, Weekly and Yearly OCCUPYING TWO PAGES STOCKS—HIGHEST AND LOWEST SALE FSICES Monday Saturday May 2o *25 *54 77 May 27 56 76% 78 SXvU 98 IOII3IO238 9338 93 7812 97\i 98 >t, 102 »9232 75'^ •25 *54 •25 •54 27 50 102 Tuesday S, 0o^-2 Thursday May 30 •25 •54 27 56 77 7534 7034 3534 3434 72"8 72 108!% 160 •184 •192 185 196 153 153 142 200 • * 3534 38I4 7212 7338 158^4 159-18 3534 7238 7212 I57I2 15334 184 197 *183 196 184 197 1511215312 142 200 22 12 22 42 12 43 185 196 I5214 153 183 198 15234 154^8 •30 •55 *120 3235 53 77 13834 139 33I2 33 58 27 59 26i« I912 40^8 9 33 58 27 3234 2038 2038 35 59 125 30 55 •107 91 *110 ..„ 90 113 2212 35 •69 125 5634 81 92 113 7718 3413 3578 61 6234 43 42 9 •9 35 59 125 *107 ... 92 94*% 112iall3i2 2II4 2212 58 2638 26I2 & 58 28 29 20% 20=8 •30 •65 120 *230 Do M f a 107 81 1503415034 •27 12 29 •105 115 •60 65 1483* 149 •271a 2913 2038 2II4 42 10 35 60 125 •2734 •9 30 65 •120 •230 70 88 251a 26 1078 11 *107 94I2 99 II312II4I4 •21 23 •56 60 •60 66 65 151 28 66 35 60 125 ansas City So. vot. B Do 7% Jan 28 ll%Apr22 40% May 9 67 May 6 May 2 6934 Jan 21 " 80 149 14 May 1 124 May 21 Jan 21 36%May31 48 Jan 21 64% Apr 10 21 Jan 8 2934 Mar 9 13%Jan 4 25 Apr 30 615 35 Jan 4 49 Apr 30 100 534 Jan 3 10% Feb 13 24 Jan 2 36 Apr 4 3934 Jan 21 68% Apr 10 tr. pref •107 9734 100 •11312115 •2112 23 5934 2912 6913 107 14 5934 31 62 110 15234 receipts Michigan Central Minneapolis & St Louis. Do Do 214 •2141221512 *212 214 3234 33 14 3214 33i« 3214 3314 61 51 50 5078 501a 5034 *87 *87ia 88 88 88 88 180 180 *140 200 J190 190 •»97i4 98 97^^ 9736 9714 98 *60 •60 *60 62 62 62 •92 100 •92 100 •92 100 •65 •65 •65 70 70 70 144 I44I4 142!% 14334 142 la 1431a S. P. pref NY. 734 71a •26 •65 •74 714 •26 28 60 78 734 714 J73 73 4234 75''8 7638 53 535s 80 •100 •53 80 8878 Feb 85 Jan 125 52 92 9934 Apr Deo Deo Dec Feb 61i4Dec Jan 150% Deo 115 24 31 Deo Deo 6834 Nov 78% Deo 119%Jan 144 Deo 88 Jan 109 Mar 119% Dec 125 Aug 97b Sep 18 Deo 81 J'ne 9414 Deo 68% Aug 82 Deo 30 J'ne 45 Deo 14 Jan 29 Apr 45I4 Jan 64 Dec J'ne 4234 Oct 42 108%J'ne 148i4Dec 169% Jan 187% Deo 17234 Deo 160i4J'ne 195 % May 102 J'ne 110 Oct 172 Feb 8% Oct 26% Oct 55 J'ne Deo 122% Dec; 220 126 175 Not Mar 1434 Deo 39^4 Apt 76 103% J'ne 118 14% Jan 30 Deo Dea Not Jan 72 Apr 834 Deo Sep Sep 47i4Mar 14 Sep 2014 Mar 106% Sep 134% Deo 171% Sep 19434 Deoi 1678 Jan S4%De0i 46 5 36 64% J'ne 87 Dec. J'ne 21 Deo^ 6i4Mar 4 J'ne 12 12 J'ly 10% Sep 3038 Sep 2 078 Not 27% Deoi 63% Deo Sep 43i4Deo 38% Oct 5489 Mar 94%Apr 15 Oct 74 12% Mar 20 Deo 14434 J'ne 191% Deo 53% Mar 66 Deo Sep 8^8 Deo 30% Jan 42 73 Deo 514 Jan 7434 Deo J'ne 13234 Deo 1178 Jan 2733 Deo 58 110 39 10 Sep Jan 7 Sep 58 25 Mar Deo 17%Apc 27% Sep 4338 Apr 3% May 6 Deo 14% Oct 23 DeOi 20% Mar 52 Deo 115 Deo: ^240 Deo89 Majr 89%Deo; 116%Deol 182 FetoJ 37%Apr| 84% Nor 17% Deo 5 Max 115 J*nfl 71% Deo 420 Apr 1 420 Apr 1 400 May 420 JTy 5134% Jan 15 139 Fel)21 ?130 Jan ?135 Mar 20 5206% Feb 27 J21538May31" §20734 Sep ^21534 Jani 18i4J'ne 32i4Deo 35,150 24 May 9 40% May 2258 Jan 4534 D6» 8,780 42 Jan 10 5734 May 300 82 Feb 15 90 Apr 30 67 Jan 83 Dea Do adjustment pref. 1,130 77i4Jan21 11700 May 9 4534 Sep 86% Deo* Northern Pacific Ey 1,900 84i4Jan21 113 14 May 7 67 Sep 91% Deo Do pref 52 Feb 1 66 Apr 20 40 Ma.y 62 Not Pacific Coast Co 89 Feb 25 98 Apr 26 82% Sep 9014 Deo Do Istpref 63 Jan 8 73 AprSO 57 May 69%Ooti Do 2d pref 106,193 137 May 9 101% Apr 2^ 124% Sep 149%De0' Pennsylvania •60 •92 •65 145 100 70 148 734 62 734 8I4 •50 •74 75 60 78 60 80 75 Do Do 4278 44 76I4 77 53% 80 80 IO212 ?9934 Chia & St L. pref vpt'g "p eading, tr. ctfs. let pret vot. tr. ctfs.. 2d pref. vot'g tr. ctfs... 543>. 80 pref Pittsb. Cin. Do 421a 4318 76I4 7612 53 535« 103,396 12 rights Peoria & Eastern Pere Marquette 100 80 *100 62 100 70 145 18 78 74 12 7412 411a 4278 7514 761a 5278 53 12 * 88 98 •26% 28 741a 7412 100 43 42^8 76 7638 53=8 537g •79 85 88 98 148 9713 9712 ?25ia 2512 •53 60 28 *74 42% 5034 5II4 •871a 88 60 •92 •65 143 7I2 7 89 73 Apr 90 N. Y. Lack. & Western... {21538 21538 N. Y. N. Haven & Hartf 33S4 34I4 N. Y. Ontario & Western. 5134 52% Norfolk & Western 521458 214% 3314 3378 §140 Deo Deo. 4834 Dec 8938 Deo' 1,235 10134 Jan 7 114%Mar21 87%J'nel04i4Noir 2,400 15 May 9 2534 May 14 Sep 27 Apr 1,400 49 Apr P 63 May 47 Nov 69 Apr 9,755 15 Jan 21 3538Ai.r2() Sep 17% Deo 9 12,670 37 May 9 eSSgAprlO 2553 Sep 47% Deo 58,840 69 Jan 4 11034 M:ay 7 3S38J:iu 72% Deo 970 78 May 9 83 Apr 13 35 J'ne 49 Deo 197i4Apr 9 5183% Jau 189% Maj 5191% Jan 40,174 13933 Jan 21 170 May 2 12553 J'ne 14533 Deo 200 16 May 9 39 Apr 19 11 J'ne 24% Deo 97 Mar 1 115 Mar22 7o J'ne 110 Deo 300 47 Mar 1 79 Apr 19 29 J'ne 58I4 Deo pref & S. S. Marie. Do prof Mo. Kansas & Texas Minn. New York & Harlem •212 25 59 1 Missouri Pacific Mob.c&0.,J.P.M&Co.rects Morris & Essex I5212I56I2 Central & Hudson. 2912 29% Y. Chic. & St Louis.. •100 111 Do Istpref 60 70 Do 2d pref 28 Ill 65 16 Sep 40%J'ly 1858 Jan 58I4 Jan 5514 Jan 7234 Jan 47% Sep 108% Jan 21 130 Mar29 83 14 Feb 18 ?230 April 235 FehlO 197 Jan 350 67 Jan 3 80%Marl4 47% Jan 29,500 76 May 9 111% Apr 30 OS-^ Sep 22,870 83 May 9 13134 Apr22 84 J'ne 20,698 150 May 9 176%Apr2 14334 Sep 100 27 Jan 9 36% Maris 24% Jan 60 79% Jan 15 88% Mar 9 76 Feb 7,300 1234 Jan 21 30 May 2 10% .Tan 6,200 3% Jan 24 15 Aprl6 2% Sep 107 14 Mar 4 107i4Mar 4 n04 Jan 18,900 6734 Jan 19 100 MaySl 45%.rne , tr. Jan 18 36 Apr 20 167% May 9 208 Maris 22% MaylO 26i4May 2 65 Jan 2 6734 Feb 14 10 3,979 2,980 4,000 10,650 3,400 2,000 2,776 Lake Erie & Western... Do pref L. Shore & Mich. South'n III4 Mexican Nat'l 1034 27I4 28I2 ' A 70 Long Island IO4I4IO512 Louisville & Nashville... 11534 11738 Manhattan Elevated., 169 1693^ etxopolitan Street 331a 33I2 Met West Side EL (Chia) 588I4 88I4 Do pref 251a 2618 Mexican Central •86 29% 115 66 1,250 44 14 Do pref. vot. tr. ctfs. 10 Keokuk & Des Momes... 43 7014 103 1037g II4I2 11534 I68I3I6934 •32 341-. 1483415138 ' 700 17 64 Hocking Valley 7734 78 Do pref I4014I4I Illinois Central. 3612 owa Central..... 36 ... 63 6314 Do pref 29 29 Kanawlia & Michigan., 7OI4 2678 2712 rights Green B. & W., deb. ctf. Do deb. ctf. 63 5738 56 5612 5712 6712 5818 104'%106i2 IO512IO7I4 IO6I2IO7 8II4 81 81 81 81 81 5714 29 12 Ft Worth&Den. Cstmp. 180 12 Great Northern, preL o Highest 8434 Sep 47=8 Feb & 10 3412 6OI4 27I4 2034 10=8 III4 59 13 5934 ' I3912I4012 139 Apr 22 ' *52ia 53 7712 77I2 54 •120 *230 "70 75 102 14 10234 114 II4I2 168 I6912 •32 3413 "86 88 2512 26 221a 2312 58 59 27 14 27 14 106 *41 9 •30 *55 IOI2 11 1034 1114 221a 60 27 •4034 42 9 8 •120 235 *230 •72 •70 "75" 75 IO218IO212 IOII3IO2I2 II4I4II5I4 113 II414 169 17012 I6734 16958 •32 3410" •32 3412 *85 •85 88 88 26\ 26 2534 26 •107 90 113 53 77 139 5314 77I4 Peh20 30 20 & , 179 10 53 12 64 7712 78 13812139 3312 5812 2612 41913 «40'8 *8 179 173 57 28 179 Lowest Railroads. Arbor Ann Do prof 30 & Om ' 178 Highest & < 17814 I78I4 180 Lowest , ' »178 Shares , 142 142 200 200 i21'8 217e 22 22 22 23 44I4 43 *41 43 43 42 •81 8I34 •8012 8II2 *80i8 81 81 8I34 •115 117 *115 117 ai5 117 • 35 • 35 35 ".'.'.'.'.' ib * 72 * 72 72 72 I0I4 I4I2 1478 15 14^8 I5I4 1434 I5I4 •62 5212 •51 51 51 5234 52 52 •23 2312 2234 2234 *22=8 23I4 *22i2 23I2 1623816334 16218164 163 168 a;165i4 16634 224 224 223 231 229 244 23934 243 44 14 44 14 44 44 44 Is 4418 4434 49 •91 92 •91% 9234 92 14 93 93 94 38I4 80 30 30 3014 30 34 341a •9 912 10 912 ?9 9 9«8 9% *18i2 19 I8I2 I8I2 *18ia 19 1734 1734 4OI4 41I4 4078 42 4012 4118 4118 4134 •6712 68^8 68I2 67 14 68 68 68 68 5534 5534 ?55i8 5518 •5434 55 14 5533 56 53I2 52 •50 *52 52 •52 54 66 •86 *86 •86 •86 89 90 90 90 * * Week EXCHzUSTGE May Sange for Year 1901 Range for 4?reviout On basis of 100-share lots Year (1900) , 38=8 39=8 7312 74 15978 16034 §183 197 Friday 31 \Sales of the STOCK 52%Mayl5 64 Apr 22 »378 Atcli. Topeka Santa Fe, 211,900 42i4Jan21 90i4May 3 99% 102 Do prof 04,100 70 May 9 108 May 3 1047a IO6I4 Bait. & Oliio, vot. tr. ctf s, 11,550 81-34 Jan 4 114%May 3 9478 95 Do pref. vot. tr. ctf 8. 5,500 8358Feb28 95 May 7678 7734 Brooklyn Rapid Transit.. 20,217 68% May 9 887eAi)r22 *83 861-2 ButfaJo Eoch. & Pittsb'g 200 77 Mario 87 May 3 '122 123 200 116 Mar 1 125 Jan 9 Do pref 10334 105 12 Canadian Pacific 4,-800 87 May 9 117% May 68 12 68 1,500 54% Jan 4 78%AprlO anada Southern 15978161 Central of New Jersey... 1,300 14534 Jan 4 164 Mayli 49 4934 f "Iiesapeake & Ohio 12,350 29 May 9 52% May 3 43 Chicago & Alton 42 11,000 27 May 9 50% Apr 30 79 12 80 2,850 72% Jan 4 82 14 Apr 30 Do pref I9514 19534 sChica^o Burl. & Quincy. 7,462 138i4Jan 4 19978Apr3( 100 91 Jan 2 13534 Apr 20 Chicago & East'n Illinois 200 120% Jan 3 136 Apr 18 Do pref 2178 22 14 Chicago Great "Western. 2,625 16 Jan 3 26%Apr2y •92 93 Do 4 p. c. debentures 9134 Jan 23 9434 Maris •7934 81 300 75 MaylO 8534 Feb Do 5 p. c. pref. "A".. 46 46 100 Do 4 p. c. pref. "B".. 42 Jan 3 56 Marl4 40 Chic. Indianap. <& Louisv, 48,090 23 Jan 21 40%Mar25 39 73I4 74 2,950 5834 Jan 21 7534 Apr 2 Do pref 161 162io Chicago MUw. & St. Paul. 50,020 134 May 9 188 May 6 18412 184k 500 175 May Do pref 200 May 3 199 19978 Chicago North Western 1,150 168%Jan21 215 May 1 Do pref 207 Mar 1 248 April 15414 i'se Chic. Rock Isl'd & Pacific 7,600 11678 Jan 4 16978 May 3 '.*.... 142 St. P. Minn. 125 Mar 2 145 April '"""200 Chic. Do pref 180 Mar29 201 April 2234 23 (Siicago Temi'l Transfer 3,760 10% Jan 19 31 Aprie 43 44 4,850 33 Jan 21 57%Aprl5 Do pref 8138 8234 Cleve. Cin. Chic. & St. L. 2,100 73 May 90 Apr 19 ai5 117 Do pref 11534 Jan 12 121 Apr20 35 Cleve. Loram <fe Wheel'g. 37 Mar 6 27% Jan 72 Do pref 68 Jan 16 77% Feb 8 1578 Colorado & So., vot. trust 21,100 15 18 Apr 29 Jan 21 6% 5134 5212 2,300 40 Jan 31 56% Apr 20 Do Istpf. vot. tr. cfs 24I4 2334 Do 2d pf. vot. tr. ctfs. 1,000 16% Jan 4 2834 Apr 29 165 12 169 Delaware & Hudson 14,400 106 May 9 185% Apr 3 240 242 14 elaw. Lack. West'n. 30,350 188i4Jan 3 244 May28 4834 4934 Denver* Rio Grande 6,400 29%Jan21 553% May 6 "" 9414 95 5,400 80 Jan 21 100 MarST Do pref 34 38 Des Moines 16,460 Ft. Dodge. 18 Jan 30 3 8 May 31 9% 9=, Dulnth So. Shore & AU.. 365 5 Jan 9 12i4May 7 1834 1834 310 13% Jan 8 21% May 7 Do pref la 4238 41 143,260 24% May 9 4333 Apr 30 , Erie 6884 69 14,350 5934 Jan 21 72% Apr 30 Do 1st pref 55 561^ 3,650 39i4Jan 4 61 Mar21 Do 2d pref 59 12 Evansv. & Terre Haute.. 55 2,584 41 Jan 31 68 Apr 12 •86 90 Do pref 81 Jan 4 95 April •83 86 H: *121J4l23 122^8 123 102 102 Lj 102 102 103 103 14 •65 •65 67 65 14 67 67 •158 160 15818 160 *158 160 48 4812 48 48 7l 4812 4918 4OI4 4118 4II2 41 421, 41 7812 79 7834 7334 79179 I9512I96 I9512 19534 19538 1951-2 * 130 125 125 *125 130 130 130 * 133 * 133 ?2278 22^8 21158 22 •2112 22I4 211a 22 •90 •92 *92 93 93 •92 93 93 80 •7934 81 •80 8OI2 80 81 80 •44 •44 46 •44 46 •44 46 46 34I4 NEW YORK 8018 76'8 7678 8638 8636 *83 861.2 *121J4l23 *102 104 *64 67 *158 160 491.1 49 41141 79 1-2 79 19578196 * 130 •180 133 STOCKS *25 •54 27 56 0:7534 7718 79 9734 9818 99 14 98 102 12 10334 104 104^8 93 94 04 94 7533 76I4 7t)-''8 Wednesday May 29 May 28 27 . .. . Eio Grande Western 9934I Do pref 634 May 15 lli4Apr30 Mar22 Feb 25 Jan 28 1473 Jan 22 3334 Jan 9 72 Jan 2 35 65 79 Jan 30 77 Jan 4 105 112 432 57 lUO 88 45,850 24% Jan 4 23,600 65 May 9 12,500 38 Jan S 200 65 Feb 5 80 93 Feb 16 May20 May 7 4678 May 7 J'ne Jan 65I4 Jan 4934 Sep 78 J'ne Sep 18 35 Deo; Deoi 73%D«Oi 80% Jaaj 94 Jaaj DeO! 7178 Deot 26 1 15 49 1 23% Sep 39%D601 Mai-23 4314 Jan 80 SOijMay 59i4Mav 85 107 5 20 Mar29 80 Jan Jan Deo' 95I4D00; BANKS AND TRUST COMPANIES—BROKERS' QUOTATIONS Banks »EW YOEK crry American Banks ma ... 152334 Amer Exch.. 260 City Ask Colonial If ... 525% Columbia Tf.. 290 590 300 Astor BoweryU Sid Citizens' Ask 160 tooo 670 300 310 • •**• Bid Banks Fourth 250 410 Gallatin Gan.sevoortTI 145 Commerce. 139834 400%! Garfield 500 Corn ExohTJ. 400 German Am^ 125 . Domes Exch 100 Ask 14thStreetTI. 150 German 275 Bid Banks Irving Leather Mir. Idberty Lincoln ManhattanlJ. 200 260 500 950 31514 Market <feFul 255 Ask Banks Mutualll 280 t Nassaui .... New Amster New York Co N Y Nat Ex. New York... Bid, 200 195 1400 1500 180 t339 150 105 220 186 190 Ask Banks Phenix Bid II214 AUt t 500 Prod ExchU 150 Republic t292 RiversideTJ.. 210 Seaboard 450 650 Second Seventh 185 Shoe&Leth. 105 115 Statelf 450 State of NYU 170 12 th Wardll. 110 23d WardH.. 110 PlazaU Mechanics' 240 250 19th WardlJ. Mech & Tra^F 110 Ninth 500 Mercantile 270 290 North Amer. 175 Central.... 185 FideUtyll.... 2.50 Oriental^,... Mercli Exch. 138 160 Chase Fifth Ave^.. 3150 700 Merchants'.. tl96 075 14 PacihoU ..^. Chatham „ 326 Fifth 300 Metropolis U 650 Park......... 587% 150 t Chemical.. 4000 4100 First Imp & Trad. 585 I| 4500 MtMorrislJ.. 190 200 People'sU 250 • Bid and asked prices; no sales -were made on this day. ? Less tlian 100 shares, t Ex rights. II Banks marlied with a paragr.iph (1|) are State baak& t Sale at Stock Exchange or at anctloa this week, Stock "cornered"; sales tor "cash" were made as high as 1000. « Trust Co. cextUicates. Broadway... Butch's&Dr 110 . 370 120 East River.. 140 11th WardU. 150 150 Exii 300 GermanialJ li . .. Greenwich \\ Hamilton^ .. Hanover Hide & L'ath . . June 1, . Monday 121a 12>2 69>a &.)\ »27 May 2d •ll^a IS '2 •Ilia 451. *82 80 68 14 68><2 32 •ii 02^ iO% 47 14 48 29 14 2'J7^ «2'4 83 29 83 4559 473s. *122 *123 124 2134 22I4 3713 38 76»a 76>2 100 88 21 37 76% 88 14 22 14 231*. 431* 42 18V •50 CI 30>a 31 •20 •44 511a 3034 19^8 20>-^ 45 44 •175 195 nsiaiii; *175 113 Oh 6 31 31 * 26^4 2U"ii 80'8 SO^B •27 ^a 28 8!)i2 89»a •34 6 26I4 8O34 *27 40 200 '34 •19'^ 5198 3788 3758 37 14 874 74 73 I8I4 19^4 48^2 iSh. 634 26 2«} 65i<j 50I2 9ti 90 »a 30 30 8218 40 125 21 37 81 511s 31 2OI4 45 *25 55 90 14 13278136 15 20I0 80^8 "491^ "50 "4 220 10^4 93 138 10^4 93 138 0212 714 20 56 90 14 49 *2]3 50 220 7I4 3(J34 1021a 104 12 8834 89=8 52 31 1934 20 *44 45 28 *190 3738 7234 161.2 I718 46I4 4634 *6ia 7 251a 26 55»8 557g 9612 9612 *31 35 78 It . 3034 7234 441a 45I4 99'8lU0 201- 84' 84 44 44^8 7618 701, •13812141 851a 87 •3413 351-3 II414 11434 4573 40 8414 85 •204 207 3 la 11 434 1134 181a 19 74 74 12 32ia 3212 •35 •80 30 82 371-. "6973 "69'e •81 85 1334 14 78 13 787 21 21 611a OII2 4410 9313 44 93 -140 92 84 la *99 101 15 15 45 453s •9913 100 1918 19 84 84 -43 45 7513 70I4 142 91 35 11338 114 lOS'a 109 142 88 35 175 117 28 «186 37 •72 3678 37 14 72 14 72I4 17% I8I4 46 13 48 4534 034 634 *25 56 26 26 50 «97i8 97 la •31 35 79 79 5534 97 7313 74'- *32 *82 32 12 83 "2 19 *18i4 86 81 44% •44 76 142 89 518 01" 55 'a 50 14 3010 *35 '1234 I3I2 *09 *80 70 85 1378 7834 2034 6138 4338 1434 7934 2114 Ol's 93 66 931a 44 14 60 148 *140 148 91 '4 911a 92 14 232 •81 83I2I 35 81 61a 55 361a 1234 0973 1234 6934 *80 W o s M 9114 Hi 81%Dec 8533 Deo 14 Dee 27 Deo' 13%T)CO; 58%Mar 33% Mar 2034 Apr 57 Apr 21«8J'ne( 10 30 Sep Sep 1< 186 37 pref American District Teleg. Aciericsan Express American Ice Do pref I8I4 4534 American Dinseed 034 American Malting Do 20 & 35 29 Ai)r22 May29 500 Refin'g. 13,175 1,707 91%Jan 8 40 May 3 {205 Mar26 41 -Is Maris 7734 25% Nov 12% Jan 5738 J'n( 72 Deo 30 J'ne 3734 Apr 8834 Sep 100 Ai)r 247, Jan 37 Nor 07 200 85 AprlO 34 Jaa 30 90 109 Jan 12 2,173 30 May 9 510 07i4Mar 4 5,030 1,959 1,310 i«ef Do pref 3778 Amer. Smelt'g 98 Do pref 5187%Mayl3 111 Jan ?150 Kor. 128% Apr 20 8934 Dec 99 % Nor 8% Apr 23 Jan 19 83% Apr 4 300 24% Mar 9 31% Jan 3 3,933 Americsan Cotton Oil Do 3934 Foundi-y 100 4145 Jan 8 79,360 8334 Jan 21 300 6 Mail 4 100 28 Mar21 61,040 19 Jan 21 ^42 Mar 191 Deo 27% J'ne 49% Apr 60%.rne 78% Feb 6 Nov 16%Feb 34% Dec 60 Feb Mar22 5% Jan 24 26%May20 Jan 24 55%May21 734 Jan 4% Feb 4 734May22 3 J'ne 22 79 May 3 2734 Mar] 3 1878 J'ne 31% Jan 3934 May 9 69 Apr20 34% J'ne 50% Dec 88 Feb20 100 Jan 16 85 J'ne 99 Not 31 200 26 73 1,700 - 144»4 89 14 434 12 19 74 74% 1-. 32% 82 lo 83% 35 81 6% 1334 79 21 21 83%] 35 81 81 534 Tcnn. Coal, Iron <fc KB... 3712 Texas Paciiic Land Trust 58 37 6134 I314 IS".! 70% 70=8 Union Bag <& Paper Do pref 14% 79% 100 80 May May 90 2 17% Oct 26 Not 59% J'ne 71 Nor 4% Mar 10% Jaa Oct 104 Feb 49 4933 Mar 7 69% AprlO, 19 Jan 18 42 Apr 20 13%J'ne 2134 Deo ir-. Feb 12 Aprl2 18 Jan 4 19% Feb 5 41% Apr 2 "ibo 63% Jan 22 8034Apr S 3%Miir 6 7%ilar2S 15,55S 8,700 1,100 1,400 1,100 85 United States Express.. 14% 1434 United States Leather... 79 SO Do pref 2138 United Statoa Rubber... 21 'SO 37^075 11,420 1,750 65 453 April 7433 Jan Jan 20 100 Apr 734M.'xy 9 lO'^sM^'V Feb ; : X.. - Dt o Jan 6!"-jMay 9 60 .Nray31] 65 J"ui' 79% Not 21 J'Jy 44 Jan lS%Marll 4 .I.U1 2 62 Do pref 757 55 Apr 8 85 Jan 2 74% Dec 104^ Jan 401% 4838 United St.ates Steel 2r>0,(il8 24 May 9 55 Apr 30 Do pref 93% 97% 110,330 69 May 9 101 67 67% Virginia-Carolina Chem. 1,700 05% Apr 24 Do prof 116 117 6O01IIO Apr20 124!_ iJO T\\v 140 Deo Fargo 140 148 & Co ....!n30 Janll i 1 51 -\ WeUs, T'u'iiin 9473 est'n Tele'gph O20I 81 Jan 21 100 >4M^ y 01 77%J'iie SS%Jan 21 *61% 63 62 4433 40 93 03 95 65% 66 •140 92 Do pref 35% Sloss-Sheuield St. & Iron Do pref 6% Standard Rope & Twine.. 83% 6*4 66 13 58 *33 40 I214 13 70 71 *81 85 85 117 145 92 70% Deo Deo 146 44% Sep 45 24 73%De& 2634 De» 35% Jan- . 86 45 76 I8«8 *82 *34 *80 611a 611a 4334 4413 9313 93=8 65 "3 60 •116 140 Do 1 Marl9 40% Apr 4 Apr 17 82i4Marl9 131% Jan 21 152 Apr 17 95i4Mar 149 Deo 117%Jan 3 124 Mar 7 107 Mar 118 J'ly 594 Jan 7 loo Apr 13 ?87 Sep {98% Jan 99 May 9 139%May28 84%J'))f 114*^ Deo Do pref 100 137 Jan 2 1473nMay 4 128 May 140 Feb American Woolen 500 13i4Marl5 217, Jan 2 21% Dec 22% Dec Do pref 70 Mar22 7678 Jan 2 76 Dec 7634 Dec 4934 SO's Anaconda Copper 18,750 37 May 9 54% Apr 10 3779 J'ne 5473 Apr 210 210 BrookijTi Union Gas 450 175 Jan 18 228 Aprl5 140 Jan 183 Dec 51114 1114 runsw. Dock & C. Iinp't 265 834 Jan 19 1434M:irl9 0% J'ne lO's Jan 90 99 (Colorado Fuel & Iron. 5,050 4134 Jan 21 108%Apr30 29% Sep 50% Dec *137 140 J Do pref 30(J 116 Marl9 142% Apr 29 117 Oct 131% Jan 1834 1834 CoL <fe Hock. Coal & Iron. 500 14 Jan 18 2078 Apr 2 11% J'ne 21 Apr •183 190 Commercial Cable l«8%Febl6 189 May 138 J'ne 183 Jan 220% 223 Consolidated Gas (N. Y.). 19,900 187 Jan 18 238 Apr 15 tl04 Sep 201 Nov 65% 0734 Continental Tobacco 195,875 3334 Jan 4 0S%May29 21% May 40% Dec 112 113 Do pref 7,110 93i4Jan 2 114 Mav25 70 May 95 Nor •59% 3934 Crucible Steel of America 25 Feb 20 27 7g Feb 15 *100 105 Do pref 81% Feb 26 84 Maris 89I4 89% Detroit City Gas 1,100 8634 Mar29 92 May 1 89 Sep 98% J'ne 95 93 Gas & Elec. of Bergen Co 1,200 72 Jan 2 95 Apr 2 9 64 May 81 J'ly 229% 233 General Electric 8,975 183% Jan 10 234 AprlO 120 Jan 200 Deo 58% 60 Glucose Sugar Refining.. 3,025 45 Feb 10 03 May 2 44 May 60 Nov Do pref 9334 Mar 100 May 2 92 Dei; 103 Not "24"" 24"' [ntemational Mar22 14% Mar 2678 Not Paper 2i4o'6 18%MaylO 28 78% 793e Do pref 3,000 09 Jan 21 81 Mar23 58 Mar 75 Nor 9778l00i'j International Power 0,900 547gJan 2 100%May31 24 J'ne 5534 Deo International Silver 5i4Feb 7 11 Jan 5 1,100 3% Aug 1078 Jan Do pref 3934 Mar29 33 Apr "506 39% 39% Internaf'l Steam Pump. 24% Jan 22 42 AprlO 28 Dec 2934 De(S 81% 81 Do pref 435 74 Jan 24 84 Mar20 76 Dec 77%Dto 85 85 Laclede Gas (St. Louis) 600 70 Jan 18 87 April 65 Mav 80 Jan Do pref 95 Jan 21 100 Feb 28] 96 Jan 100 Jan •15 18 Manliattjin Beach 100 0% Jan 1834 May 8% Jan 28 22 Apr 16 44% 45 3( National Biscuit. 5,059 37 Jan 21 40 May 3 23 J'ne 40% Nor •95 lOUij Do pref 300 9*2 Jan 2 100%Mav29 79% J'ne 96 Feb •18% 191-. National Lead 700 13 Marl4 23%May21 1573 Atii; 28% Feb •81 84 Do pre! 200 81 MaylO 92 Jan 2 83 Aut; 106% Feb 44% 45 National Salt 800 40 Jan 7 50 Mar21 32% Oct 46 Nor Do pref 70% 70% 1,000 72 % Jan 3 84 Mar23| 09% Oct 76% Not 144% 144 >8 New York Air Brake. 1,115 133 Mayl5 175 Apr 20 112 Sep 175 Not 893 North American Co., new 89 8,00'. 73% Feb 14 91 Mar23 383. Pacific MaU 36 2,400 30%Ma[y 9 47i4Jau29 2534 J 'ne 57 Not eop. Gas-L.<fe C. (Chic.) 51,500 9534 Jan 21 119%-4Lpr30 81'8 Oct lll%Apr 114%1103e 108%10S-'4 Pliiladelphia Co 1,000 90%Mar22 109 May27 74 Jan 74 Jaa 46 40 Pressed Steel Ciix 4,250 30 Mar 7 52 Jan 2 32 % Sep 5834 Jan 80 80 Do pref 1,010 72% Mar 5 89 Apr 2 9 7034 Sep 89%Nov200% 208 Pullman Company 570 195% Jan 21 217 Apr 1 .76 J'ne 04 Dec loAu434 2% Mar Quicksilver Mining 18,230 1% Apr 2 2 5%Mav31 1134 113j 734 Oct 10% Mar Do pref 2,540 7 Mar20 1234Ma\-:7 19 27%F«.!» 834 J'ne 19 Iron Apr 2 73 Jan 2 2 <& 4,400 12 22% Steel.. Rqpublic 74 75 Do pref 4,400 55% Jan 21 82 Ai>r 1 49 Aug 70^4 Feb 32% 33 Rubber Gooda Mfg 2,050 23 May 9 38% May 2 19 13 4% •10 1373 14I4 7913 79 14 21 24% Deo Deo 55 Deo 18%Deo 45% Deo 4534 Deo 2333 Dec 78 148% American Sugar Refining 87,345 '121 122% Do pref 30U 99%nii0 American Tel'gU <fe Cable 250 135 138 American Tobacco 232,430 45«a 46 861a 86 718 55 21%Deo llOsJ'ne 71 14014 11334 11479 3 35 1,80(J 32% 32% American Snuff 79% 79% Do pref 36% 38 74 *34 81 5 Slav 878 Deo 38% May 64% Deo 9 77% May Highest 1-, 7 14134 14134 8834 8978 35 43 3512 74 29 14% Feb 75 Apr22 34''8Apr22 May 9 6O34 Mar28 May 9 38 Mar28 14%Jan21 243, Apr 29 200 38% Jan 17 4934 Apr 17 300 tr. cfs. pref. vot. tr. ctfs. Adams 28 14 28 200 4 21% Jan 4 50%AT)r30 S'sJ'ne 425 79 Jan 2 88 Marl 2 64 Sep 4,000 53% Jan 4 74% Apr 30 31%J'ne 1,920 16 May 9 39% Apr .30 834 J'ne 4,020 41%Jan 3 68%]VIay G 2178J'ne 235,393 29 May 9 5778Apr30| 3038 J'ne 149,720 18 Jan 21 3438Mliy 1 10«8J'nc 25,770 07% Jan 21 88«8May 1 49% J'ne 17,700 23i4Jan 3 52% May 3 13%.J'ne 124 117 May 9 129% Jan 9 45% Mar 3,226 1034 Feb 10 25% May 22 1,827 28 May 9 39%May22 12,186 6534 Jan 21 85 MaySl 61%J']y 147 Apr 19 14734 Mario 136 Jan 298,285 76 May 9 133 May 2 44% Jan 8,730 81% Jan 21 99% May 1 70%J'n(: 88,200 11% Jan 3 2534May31 6% Mar 99,300 2334 Jan 4 45% May 1 16 Sep l,55iJ 1138Jan31 2138Mar29 8 J'ne 1,100 28% American Car & 82% 82% Do pref '34 21 29 Lowest 1,900 2<1 Kxijress 120=, malgamated Copper... American Bicycle Do pref 2734 3934 200 773 Jan 600 58 Jan 700 20 Jan 300 57 Jan Do pref Wisconsin Cent. t. Highest Lovjest MiHcellaneouii. 29 82 84 '2 841-j •84 85 *96 100 *98 100 *15 18 4539 45 45 453s *98 IOOI2 lOOialOOis *80 44 75 pref. Wh(;eUng<S; Lak(jErle... Do iBtpref 195 2713 8 134 2734 ' 1838 18 52 321., 6 307g 6I3 Do 44-'8 •5 1713 Union Pacific Railway. Do pref Wabash. 20I4 185 185 1151311712 I4514I47I2 14618 I4714 122 122 *121ia 122 la •97 100 *97 100 13634 13912 135 12 13812 I4514 145 14 •15 16 14 14 •73 75 '4834 "4934 50>4 49 215 215 212 215 no 10 no 10 9378 9434 93 921a 1137311414 *107ial08i2 4OI2 40 4534 4534 8OI4 86 85 857t, 20534 206 205 205 478 412 412 4 11 Ilia 1234 *I0 1838 19 18 187t< •3413 35 *80 81 5 5 •5513 50I2 •36 17% 8118 8118 85 100 10 •19 la 43 Pacific <fe Avenue (N. Y.).. Tol. St. L. & W. V. tr. ctfs. Do pref. vot. tr. ctfs Twin City Rapid Transit Do pref 1041% 10878 8939 90 14 2439 233. 20 14 *42% 45 92 92 137 138 *130i3 13812 13612 1381a 17^ 1712 *17 19 18 I8P4 1834 18 •180 190 180 190 *180 190 21934 21'.)»4 218 218 220 223 la 219 224 66I4 681a 6014 63^2 62 la 6OI4 65 08 112 114 HOI4 112 11134 113 111 114 •22 26 •84 86 89i-_ 8914 89 14 89 89 89 9414 9414 94 94 931a 9312 •221 223 226I4 227 229 12 223 222 223 58I4 68I3 57 Hi 68 *50 58 671a 68 •100 105 "24" "25 20 23 "23"'23id 2334 23 7^3^ 7334 78I4 7334 78 771a 78"-l ?77 95 96I4 98 90 9713 9778 9012 90 7 *0i4 038 7 61a 61a •34 30 *32 *31 3r 35 •33 36 40 40 3913 39% 40 40 •84 *98 •14 2214 3734 83% 83 20 Hi 45 -34 193 200 37 tr. ctfs. pref. vot. tr. ctfs bird 20 •43 *b9ia 90I2 3934 Do Texas -61 32 ' & Southern voting 80 4734 51 31 *50 *30 . 31% 34 4334 177« 5138 31 4234 1779 Week & Do Range for Year 1901 Range for Previout On basis of 100-share lots Year (1'jOO) Shares G. Isl. T. tr. ctfs Istpref. V. tr.cltfi. 2(1 pref v. tr. ctf a 7434 St. Law. AtUronrtack... 4i St. r.. <fe S. Ft. vot. tr. ctfs. 8S L)o 1st pref. V. tr. cfs. 7OI4 Do 2(1 pret V. tr. ctfs. J. S^lio 83 47 "20% 24 la 247, 41^8 433b >17i2 18 the 3334 35 St. Loiiia Southwestern. 6339 05 Do pref 5313 5378 Sontliem Pacific Co 85 461a 47 124 124 211a 22 37 12 37 9912IO3 87 12 8«34 2412 23 •^34 47^ 85% 69% 811a 8112 28 3738 83 14 84 69 14 69 12 34 34 0319 6338 52 48 83 2134 13 0973 70 29 14 2914 7434 4539 2938 47 125 201a 2834 80^8 83 •12 31 1069 Sales oj NEW YORK STOCK EXCHANGE Friday May !• 82-\ STOCKS 7434 4512 8I34 8118 40 198 122 100 137 ^714 69 33 37 la 37 12 *27 16 •213 84 *175 198 II534 1143411018 *5 31 307,^ 134 122 •97 75 45I4 198 7818 79 14434 I48I4 *Vi0h.V2-ZH •98 100 '123 21ia Thursday May SO 12 12 09 14 69 14 29 12 *27i2 7434 4473 48 14 2878 29 12 4034 73 la 161a 18 471a *74 45 14 *80 69 33 02 13 47 83 99 lOOH 87 '4 88 23 1.2 22-'i 4114 42 12 18 18 lOlSf, 1734 0-2 "2 4712 29=8 I3I2 69 09 28^8 29 09 27 74 75 *44ia 45 85 74'% 74=8 Wednesday May 2y Tuesday May 27 *60 27 2U : Stock Record— Concluded— Page 2 1901.] UTOCKS—HIGHEST AND LOWEST BALE PRICES Saturday May 25 . 148 ' > 02-3 BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS Banks NEW BIA Bid Ask 5th AvenueTl 100 Unions nil... 300 First 300 Kings Varickli 175 WestSidell.. 000 Western Yorkvillell ., 130 -AUuiufactrs'. 285 MeclianicsK 210 Mech & Trar 270 Meroh;uila'.. 100 Nassau 350 Nat City 300 North Sido^l. 175 580 240 BBOOEOiYN Bodfordfl..., 225 Broatlwayll.. 250 Brooklyiilf <. 120 tth Wardll.. * t Asle BKOOKLTN YOEIC CITY Coll... PeiH>lo's1i 83 195 Schorm'h'nl 160 md Banks BllOOBCLYJf 110 17th Wardll. 125 200 Spraguo * 300 20th Wardll. 140 140 Union',! Wallaboutll 103 Tmst Co's Central Tr-st City Trust 213"" Colonial .. Continental ibo"' Farm Lo&Tr Ask FillhAveTr . Guaranty Tr 300 Kuick'rb'k'r Trnst Cos. N. T. 205 Manhattan.. CITT .VtlanlioTr.. 275 r>owri;(>rccn 200 C-lR'tyJkV.Ti .-.50 Bid and asked prices; 110 sales wore made on tliis day. Sale at Stock Exchango or at auotiou ttus week. i Juess 300 210 Mcrauitile.. Merchants'.. Metropolitan than 100 abaroa. Hid Ask Trust Co's 1950 2000 MorlouTrust 410 N Y L I <& 'I'r 400 NYScc&Tr 410 North Amer. 1495 UoulKstTr't t 850 StandardXr'l 0i5 Tr Co of Am. 700 725 Union Trust ITSMtgATr 450 S25 Unit States. 320 Wasliington. 500 Bid Ask !| Tmst Co'b 1000 1300 BEOOKI.TN Bid Aib 1335 1 t Brooklyn Tr 420 900 275 295 350 .... 350 Kilins Co. ...1410 t2i;5 loS'O :±..\ LlslLATr. 250 :>t;mul.iLfrs. :!30 (35 400 _ii5 -N :saau 21a li;:~0 :;50 voople s 320 :; \VUliamsb"g.i205 216' ii tE:c rights. ^ Books uiai:^eawlUi a paragrapli (II) are State ban^. New York Exchange— Bond Stock OCCri'yiNG FOUR BONDS STOCK EXCHANGE Week ENuiNd May 31 Price N. Y. t'litlai/ S TJ TJ XJ S S 4.S TJ XT U S S coiisol 1-0^' AsK Loio Jiiyh 5 = s)iiaU..<n!i;i(ll vc-istei'i'il /.llllS coupon fcl918 10G1-J107 Wii->i Sale KHP-jApr'Ol lOGi-j 106^4 1 *i S4s cuimoii TI 8 58 rcjristorcd hUWi 109 lusSjiio iVi ii;!i-2n4 1131.2 lOS-'.i loy-'j Itecislered 68 deferred certfs Itailroad Hee So Ey See Sav Fla Albany & Susq Hee Del & Hud AUegheuy Valley See Penn Rll Alleg <fc West See Bull' 11 P Bock Im See Cent of J Ann Arbor 1st g 4s /il995 Q.J Atcli T S Fe gen g 4s. ..1995 & W & N & 96 XO & Registered 1 it;);") Adjustment g 4s /t]995 ;il995 Registered Stamped Equip tr series Ag 7i.l995 58... 19 02 103 >2 102 A-O Nov Nov Nov 95 Sale Sale Sale 9234 Sale J-J Cbic & St Louis Isl6s..l915 MS AUKnox & Nor l8tg5s..l94G J-D Atlanta & Danv See South Ry Atlanta & Yadk See South Ry Austin & N \V See Sou Pacific Creek S See Mich Cent Bat alt & Ohio i)riorlg3>-2S.1925 J-J 115 107 Registered 71.1948 Subs toconv deb 48 Apr 'di iio"i"i'2"" 113 11 31-2 10 lOy-'jMuy'Ol 1141-2 u;;34 ]ir,i4 1371.2 138 lo 13734 139\ 110 109 lll^s SoutUw Div 113 12 Q-J N 90»4 Sale . Btifl'alo R& P f»en g 5s... 1937 M-S 118 & Pitts 1st g GS...1921 FA Consol 1st g Gs 1922 J-D Buffalo & Southwest See Erie Boch <fc Susqu Registered II8I12 127 129 132'-. A-O 1913 A-O 89 12 90 14 113 88=8 97 'i 95 12 1»»5 104 110 91m 9138 May'OO J'ne'99 118 118 103 Apr '97 129 May'Ol 100 Nov'99 M& Canada 2d 5s Registered Carb <fc Shawn See III Carolina Cent See Sea b & Roan Carthage <fe Ad /See N Y C <fe H 107 Hi Sale 108 12 Sale MS MS Ced R la E & N i'ee B C R & N Cen Branch UP 1st g 4s... 1948 J-D 92 Ohio Cen RR & B of Ga col g Ss 1937 M-N 981-2 100 Cent of Ga BR 1st g 5s..i}1945 P-A II912 Registered 1945 F-A Consol gold 5s 1945 M-N 103 12 Sale Registered 1945 M-N Ist pref income g 5s 68 12 70 ^^1945 Oct 2dpref income g 5s jjl945 Oct 27 28 8d pref income g 5s i>U)io Oct 14 Mac& NorDivlst g5s.l94G J-J Mid Ga <fe Atl Div 5s. ...1 947 J-J Mobile Div Ist g 5s 194G J-J Centof N J 1st consol 7s.. 1902 M-N 103 General gold 5s 1987 J-J 132 Sale Registered 7il987 aso^s Dock & Imp gu 5a. .1921 115 Central Ohio See Balti & Am 1041.2!;!!!; 103 li<fc 100 101 1!»40 1 st g 5s Div ist cong48. .1989 2d consol g 4s ...19.S9 Warm Spr Val 1st g5s.. 1941 A Lex & Alt &B UK S gu 1945 lOS'^. AtlAv Bklyn impg5s..l934 Bk City 1st con 5s. 191 G, 1941 Bk Q Co & S eon gu g 5s. 1941 Registered 1943 C0I& 9th Av 1st gu g 53.1993 Registered * * No price Friday; 118 130 129 I3014 IO7112 108 107^8 1081.2 10634 Apr'Ol 1191212712 35 106%108i2 10 107 12 111 10634 108 92 14 May'Ol May'Ol 1201.2 Mar'Ol 99 103 I4 10312 9G Oct '00 70 70 28 12 27 15 15 95 Dec '99 102 J'ne'99 92 95 96 119 103^2 I2012 9714IO8 GO 20 8 73 12 3612 I912 II4I2 Oct Apr'Ol 108 132 106 'a 108 132I4 14 127 I2 1311-2 114 'g May'Ol 127 113 Chic St 137 115 Cliic St Ch St .117 101 101% Sale 92% Sale 108 Jan 95 109 and astced tbis week, 85 's 45 ISi a Due Jan 117%122% 120 12234 83% 86% 10014102% 102 103 102^2 Apr'Ol Mav'Ol 114 114 104% 104% 107 11014113 1103h li03„ 11234 Apr'Ol 11234 11234 '00 1411419614 109 112% 121 I28I4 113 115 138^4 Apr '01 123 Sale 1-22 1241.. 123 115 123 13514I4O 19 115 127 123 Aug'OO May'Ol 11234 125 125 114 117 124 112 117 May'Ol May'Ol Apr'Ol 115 115 113 117 180 Sale 180 180 180 192% 183 183 183 116 113 17218 Apr '00 137'% 119 115 190 190 124 106''8 11334 188-% 190 Jan '01 May'Ol 182% 194 114% 11538 112 114% 11538 May'Ol 112 112 105% Feb '98 121 I20I2 I3418.... 125 127 11038.... 119% 121 121 Apr'Ol 12158 .\pr '01 11834 118 119%May'()l 115 115 12158 122'4 118 115 137%J'ly'99 126% Apr'Ol 110%May01 I85I4I88 117^6 119 188 Apr'Ol 118iHApr'01 110% May'Ol 118 118 117 II7I2 117% May'Ol 119 .... 119 119 118 124 118% May'Ol 122 .... 121% Mar'Ol 14138.... 142 142 108 .... 107% 107% 108 Apr'Ol 108 110 112 Mar'Ol 107 Mar'OO 110 Apr'Ol 103 Nov'98 114 117 114% May'Ol 113 111 Oct '00 108% Mav'Ol 1081a 1073^ Mav'Ol 108 107 12 110 109 109 110 108:'8Apr'0] 117 Apr'Ol 110 110 110 .. .. .. II9I4.. 13434.. I2718.. 140 .. 140^.. 109 ni .. .. 13014.. 120 121% 122 13934 142% 107 108 107% 108 109 112 109%110'a 113% 11684 IO8I4 110% 10738 10738 108 1103* 10838 10838 116 117 May'Ol 123 40 122 123 113 111 Jan '01 Mar'Ol 113 111 113 111 11114 Apr '00 12018 Nov'OO I35I4 135 14 121% 125 14 52 135i4l41"4 MaVOl 123% 127% 14334 Apr'Ol I42I4 Mav'Ol 107% Feb 01 14334 14334 127 113 131 97 116% Sale' 110% 13X-'^8l43 107% 107% 113 Apr'Ol Mav'Ol 113 130% 131% 132% 40 132% 132% 108% 93 107%110 10734 108 10734 99^8 Feb'Ol "84"*!!!!!! 86I4 Aug'OO 1 106 >9''8 Dec '00 108 9978 110% 112% 1101.. 141%May'01 141% 19 -18%119^ 122 123 10734 Sale . . 117%119% 17 117% Feb '9J-! 1077eSale .. 134I4 143 140>9 138%May'0l|.... 134 138 <fc 110%110'% 11734 132% L & Pitts See Peun Co P M & O con 6s. 1930 P Minn 1st gGs 1918 II6I4 12514126% 11014110% II8I2.... 110^8. ... 11814.... '12112. 119 119% 122 183 Paste. Railway Cab g 5s. 1937 1937 Guaranteed gohl 58 1937 Third Ave 1st gold 5s 2000 Ist con guar 4s J-J J-J J-J J-J Union El (Chic) 1st g 5s. .1945 Chic St 40.JT 1st cur 5s. 1928 A-O i^on 112 124 ' 104 W40-year consol gold 5s. ..193G M-N M-N Mar'98 94 91 14 93 102% May'Ol 103 103% 107 J'ne'OO 103 108% 109=8 May'Ol 1093911212 109^8 Mav'Ol 121i4Salt 121 14 121 14 115 II6I2 115 May'Ol '99 ll»%Sale 119% 120 122% 120% May'Ol 119% Dec '00 i22%Sale" 122% 122% Sola 194 <fe St Paul City ' 111 110% Met St li\— (Continued) Lex Av & P F 1st gu g 5s 1993 M-S 122% 123 1993 M-S Registered Apr'Ol 111 115 El (Chic) lstg4s. 1938 F-A 1 1 May'Ol MetWS 100% 105% 100% 101% 99 98 102 Mil El Ry & L 30-yr g 58.1926 FA Minn St Ry Ist con g 5s.. 1919 J-J 92% 93 111 88% 95 108 110 115 92% 219 100% Oct DesM 1st Ss... .1923 Chic & SI L -S'eeAteliT&SaFe Chic St L & N O See 111 Cent 13758 i07% 100 90 92 114 105 105 110 ( Keok '00 lot; 13J 130 10618 IO8I4 1993 latest bid 104 Lacrosse & D Ist 5s.. ..1919 Mineral Point Div 58. lillO So Minn Div 1st 6s 1910 Southwest Div 1st 6s. .1909 Wis* Minn Div g5s 1921 Mil & No 1st M L 6s.. ..1910 1st consol 6s 1913 Chic & N'west consol 7s.. 1915 Gold 78 1902 Registered 1902 Extension 48 1886-1 92 Registered 1886-192G 198" General gold 31.2s Registered «198 Sinking fund 6s.. .1879-1929 Registered 1879-1929 Sinking fund 5s. ..1879-1929 Registered 1879-1929 Debenture 5s 1909 Registered 1909 Debenture 58 1921 Regist<'rod 1921 Sinking fund deb Ss 1933 Registered 1933 Des Mo & Minn 1st 7s.. 1907 Milw& Madison 1st Gs..l905 19Hi North Illinois Ist 5s Ott C P €& St Paul 1st 5s 1909 Winona &, St Pet 2d 7s.. 1907 Mil L S <fc West 1st g Gs 1921 Ext & Imp 8 fund g 5s 1929' Ashland Div 1st g Cs..l9 Mich Div 1st gGs 1924 Convertible deb 5s 190 Incomes 1911 Chic Rock Isl & Pac 6s... 1917 Registered 1917 General gold 4s 1988 Registered 1988 Des M & Ft D Ist 4s.... 1905 Ist2i28 1905 Extension 4s 1905 Sti'eet Bklyn XJn El 1st g 4-5s.3 950 Kings Co El 1st g4s... .1949 Nassau Elee gu g 4s 1951 City <fe 8 Ry Bait Istg 5s. 1922 Den Con Tr Co 1st g 58... 1933 DeuTramCo con g 6s.. 1910 Met Ry Co 1st gu g 6s. .1911 liouis Ry Co 1st con g 5s.. 1930 Market St C Ry 1st g 68. .1913 Met St Ry gen col tr g 5s. 1997 Bway & 7fh Av 1st o g us 1943 lOlk. . . 115 10434 100^8 102% 10534 10534 "i 10938 10934 109 14 IO914 100 12 lOOiaApr'Ol 10434 Apr '00 191G 1924 1910 1910 1908 1st 58 "i l01i4Apr'99 85I2 86 1921 I&D Exten lat7s 115%117 115%119 Nov'OO 105 105 10212 lOliaFeb'Ol 10114 1013b 10134 IOII4 10534 Jau '01 9234 91 1.2 May'Ol & Mo Riv Div 58. .. 1926 Far& Souassu g 68 Hast& DDivlst7s Mar'Ol 106 106 103 lo 22 102% 104 107 1041.2 !i-5s..l9(l2 s Chic& PacDiv()S Chic& P Wlstg58 Dakcfe GtSo g5s High No Low High 15 II9I4I22 IIG Apr'Ol IIG 120% 105 12 lOGi-2 130 104 108% 103 Apr'Ol 103 IDS Oraig Valley lUISCEtiiANEOUS BONDS—Continued on Next Street Railviay Brooklyn Rap Tr g 5s 119 lOOiaSalo 1910 Bu^ Ce<lai- R & No 1st 5s. 1906 J-D 107 I0712 108 Con 1st & col trustg58.. 1934 A-O 123ifcSale 123 Is 123-8 Registered 1934 A-O 117 Nov'OO CRIF&NWlstgu5s.l921 A-O 113 113i2Dec'00 St List gu g7s 1927 J-D 1908 J-J 1913 1913 Cent 103 12 II8I2I20 119 120 115 117 I3014 Feb'Ol 1st g 58. . 1913 South Isl 5s 1 . . . 1947 J-J & West 1st g 4s gu. .1998 A-O C1& Mahlstgug5s....l943 J-J 106 119 All Buffalo Registered... r January I unn 1921 W Debenture Gs i.>s Last Sale 1031.2 Sale '-2 111 111 &H & g 5s Registered General gohl 4 Jiange Since 113121151.2 114i2Apr'01 1163.1 117 11 5 i8 Mav'Ol 120i« ir.ti..i«ale II9I2 908 alOll 1939 1939 1992 1992 7i 1-2 Q-E FA & & . Week's Mange or Ask Loio 103 96 95 963f, 127 95 12 Mar'Ol 95 12 102^4 Sale 102 10234 i72 99 100 1021.2 104 Mar'Ol 102 107 308 100% 106% Sale 104 88ie 88 89 S834 47 87^2 1st g 3 HiS. .1925 J-J Regi-stered 7i,1925 Q-J Monou Iliv Ist gu g 5s.. 1919 CenOhioR 1st cg4'2S.. 1930 M-S Beech Creek See YC Bellev <fe Oar See Illinois Cent Boone Bridge See Mo K <fe T Bklyn Montaiik See Long I Bruns West See Sav Fl & Buffalo Y Erie See Erie N g Gs ser A. )luo 31 fund 68..1903 97 14 96 Apr'Ol 96 Refunding g 3s 1949 asis ices o n the h o/$5<() .£. Registered 1949 V S Trust Co receipts 109 1-2 Apr '01 10812 1091.2 Miss Iliv B 1st 8 f g GS..1912 105 Aug'98 Jiailwai/ 1st lien 3 128... 1950 109i4Oct '00 Registered 1950 1031.2 Mar'Ol 102 1031.2 Chic Bur & y eonsol 78. ..1903 Sinkingfund5s 1901 125 Apr'Ol 125 125 Chicifc Iowa Div 58 1905 108 Mav'Ol 108 109 Denver Div 4s 1 922 109i2Feb'99 Illinois Div 31.2s 1949 Registered 1949 105 Feb'Ol Iowa Div sink fund 5s. .1919 105 105 Sinking fund 48 1919 136 Mar'Ol 135 1361.2 Nebraska Extensiou 48.1927 120 Mar'OO Registered ._ 1927 9638Mny'()l 99 Southwestern Div 4s 96 1921 96 Feb'Ol 96 Convertible 58 96 1903 9634 95 May'Ol 95 Debenture 5s 1913 Han & St Jos consol 6s. .1911 10 May'Ol 712 1034 ChiOife E lUlstsf cur6s.l907 Small 1907 1st consol g 6s 1934 General consol 1st 58 1937 Registered 1937 Chic & lud C Ry 1st 5s.l93G Chicago & Erie »S'ee Erie Chic In<fe Louisv rof 6s. ..194 Refunding gold 5s 194 56 95 101 96 96 Louisv N A & Ch 1 St 68. 1910 IO212 IO312 233 1017g 10434 Chie Milwaukee <fc St Paul— 102^4 Apr'Ol M<fe 8tPl8t7s$gRD.1902 102 10234 941-2 95 12 8 l8t7s iEgoldRD 8684 96 14 1902 95 95 May'Ol l8tC& M7s 94 1903 42 90 9234 Chic Mil & St P cou 78. .1905 93 9 6 14 Terminal gokl 5s 1914 General g 4s series A..C1989 108 May'Ol Registered 108 108 el989 General g 31.2s series B.cl98y Registered el989 96^4 Sale 1911 2>1925 ( 1st consol ' Chic PJun&MDivl8tg 3^81925 M-N Registered & 'hes Chic& L SuDivg58 /il925 Q-J /tl948 A-O Gold 4s I May 'id & H ud R gen gu g 5s 1 920 & Wilks B Coal 5s.. 1912 Cou ext guar 41.28 (/1910 Cent Pacilic see So Pacilie (;o ('liai'les& Sav Istg 7s 193f Gold 6s <fe Registered N J~( Continued) Loll Eliz hese are pr Securities Alabama class A 4 to 5 190G J-J niii4.... Small Class B5s 190() Class C48 lilOO Currency funding 48 1920 125 Diet of Columbia ;Jt;r)S.... 192-1 I/misiaua new consol 48.. 1914 Small Missouri f undins 1 894 1995 105 "2. NortJi Carolina uonaol 4s. 1910 Small Gs 1919 So Carolina 4 1<28 20-40 1933 Tenn new settlement 3s. .1913 Small 953^ Virginia fund debt 2-3s... 1991 Am Central of Cliic !!>tate laba Midi IIT',. 10938 112 loy^feMiiy'Ol 13 '2 114 114 Apr'OJ 138 1-2 1391, 1381-2 138io EJSHjEiO'-; 13814 May'Ol 108^4 109"j 110 Mav'Ol Foreign Govcriimpnt S of Mexico s f g 5s of 1899 Q- Alabama Cent 109 J 1925 192j 1904 1904 V S5s coupon May'Ol 110 110 ' siuiiU liou(Ls..fel918 7)1!M)7 lesisteitHl TJ 105i4lOG'e 10534 i()534 cou S4s coupon liiyh Q 109 109 Price t'riday STOCK EXCHANGE Week Ending JSIay 31 ^« N. y. 1 105i.jlOGi.j ' small bou.ls..tl91« rc^' BONDS Jianye Since January Xo Low consolcoupsiiiall.enitHO V S4sic'Kistcred TJ Week's Kantje or Last Sale ^ I'AUEJS Le cousolrPgisteretl.iJlOP.clQ(JlOoOUi coDsol couixni XT TJ 0 31 Bid U. S. Oov«rnmeut S 8 S 8 28 2s 28 28 3s 3s 3s 38 TJ May ^(i; Weekly and Yearly Eecord, Friday, Sale May'Ol 121% 123% 10134 May'Ol 106 Oct '99 98"" ro"i34 122 110 110 Apr'Ol 124 104 110 111% 112% 111% Jau '01 123% 125 Mav'Ol 104 104 105 109% Dec '99 99 Dec'97 Gbs aud Electric U^ht 917 J-D Atlanta G L Co 1 st g 5s. . . 1 122% 126" Bos U Gas tr Ctfs s t g Bklyn XJ Gas 1st con g d Due Apr « Due May g 58. 5s. 1939 J-J 1945 M-N Due J'no h Due J'ly 9138 Oct '98 116 fc 117 118 Due Aug p Due Not s 115 119% Option sals 94 JCNE j Bond Record 1901.] 1, BONDS Price STOCK EXCHANGE WEEK EyciXO MAT 31 Cliic St P M & 0--(Continttedj Friday N. T. May 31 1st Os...UlitO J-.T iKt R i;s...l919 A-0 St P<fc SCily Chicago Tcr'J'raiis k Oliicfc 'Is... 1947 140 130 132 95 '4 Sale West IlHt8fK6»..1919 M-N, 105 General 0« «i)l<l f/l!):f2 Chic& WcrttMicUKy58..19'21 91 Choc Ok & G RCii K s .'j H& Cih .T-J consol 8 1) 2(lKol(i f -I'^.'s Cin l8t JJ <fc 1 I .St L, <fe gu g 1 . . . QM 11>!'.2 .I-D .T-.T 7s... 190.". A-O 19:!7 .T-J Ill 19 11 113 .5s... MS Week's Jiange or Last Sale Aak Low Bid Nor Wisconsin C C C <fe St 1. C C C See C C C St L Cln S Cltarlickl <fe -Mah Hee U K * P C C C & SI 1, Kener,-vl « 48. 199:i J-D 104 ~'5 Jiiffh Since January 1 NoULoio Jliah Mar*01l....|ll40 131 131'2 94 106 119 100 103 115 113 113 Range i"*,. Isqcc] —Continued— Page 101130 92 '-.ii 140 1314, 95'.. 124 •99,.... 98 Oct Mar'Oll Oct n8»2ll934 '99,.... '00' Jan iK-C'OOj Oct '00|.... Maj'Oll.... 113 115 Mar'Ol 10514 . 104 M-N -.1990 Hegistcri'.l WWVal 102 104 104 99 102 103 99 100 83 Jan 101 /fl93t Ql fcl9:iO (<-F 58. . 192h J -.J & ( ;l con 1 Kt g I consol 7s 1914 Consol sink fund 7a 191 4 Gtiiiial con.sol gold 68.19:54 Kcgistt-rcd 1934 1st i)t 5s...fn9:)8 O ln(l& Pc'o<fe Kast 1st con Ls... 1940 A-O Income 4s 1990 .\pi CI Lor <& Wh con 1st g .'58.19:i3 A O Cln S CCC& 103 li:>-<i 13a '2 135 & .Sue Peun & ]^I.ilion Val g 5s. ..1938 RcgiHt.Tcd 1938 Clfiv & i'ilts iSee Penn Co Clfcv Clcv 97 Sale May'Ol 115><2 May'Ol 133i2Ma>*01 96 66 111 104 1041-2 .... il3n^i'l.5'i2 . 12 97 May'Ol '00 Sep ISO's I2912 J-.I 130 1361-2 134 136 95 100 4512 73 88 Hj Sale I2912I.3OI2 82 S2 82 83 Vj Mav'Ol 87 '-i 88 12 78 77 83 87 12 871-2 »97,^ M MK&T M-S 122 12 M-N 136 1871-1901 A-O lOiag. 7s. . . 1907 MorriatS; Essex. 1st 7a... 19] 78 W NY FA Term &inii)rove48 1923 M-N Syr Bingdi X Y Ist 7s.. 1906 A-O Del* Hud 1st Pa Div 78.1917 M-S Registered 1917 Alb <fc Siis Istcougu 78.1906 A-O Registered 1906 A-O 1906 A-O Guar gold 68 Registered 1906 A-O liens & Saratoga 1st 78.1921|M-N Registered 1921 M-N Del Eiv RR Bridge See Pa RK Denv& R Grist con g 4s. 1936 J-J 1936 J-J Consol gold 4'2S MS Improvement gold 5S...1928 J-D Kio Gr So f!U See Klo Gr So Des Moi & Ft IJ See C R & I P DesJt&Minn .Sec Cli i:i6'8 140 MnVOl 140 Oct '98 136 V May'Ol 117 "a 120 llSiaMayOl 140 110 110% W& I^astof Minn A«e St P M <fc JI -Jast Teu Va <fe Giv See So Ry .\ East 1st g 5s. 1941 M-N See C & () IJ San <fc No See Erie l8textgold48 2dextgold5s 3dextgohl4i-js 4th est gold 5s Ycfe W MS Erielst78..19i6 gold 6s 1908 Y & Green L gu g 53.1946 M-N SmaU 1946 P.1-N MldRRof NJ Istg6s.l910 A-O W Istref 5S.1937 2dgold4ius 1937 N YSU8& J-J F-A General gold 58 1940 F-A Terminallst gold 5s. ..1943 M-N Regis 85,000 each... 1943 M-N WUk & Ea 1st gu g 5s. 1942 J -D See Peun Co 1st g 63. .19.33 F-A EvtfeTH l.st consol 68... 1921 J-J Istgeneral gold 58 1942 A-O Wt Vernon 1st gold 6s.. 1923 A-O <fe 30 100 108 107 Feb'Ol 98'2Nov'0O Sale 91 91 115 May'Ol 116 110 112i2Apr'01 120 119'-jl22 ' 99^4 Sale "89 Sale 112 140 114 Registered J-J J-J J-J M-S M-y 1952 A-O 195'_' A-O gold 48 Registered LN o <fe Tex gold 48. ...1953 195:i Registered 1950 Cairo Bridge gold 48 19.-,(i Registered 3I28.] 953 Louisville Div gold M-N IN J-D J-D J-J J-J 1953 1921 Midland Divreg58 1951 St Louis Div gold 38 Registered 1951 Gold3i28 1951 Registered 1951 Spring Iiiv 1st g 312S... 1951 1951 Registered Western Lines Ist g 4s.. 1951 Registered Bellev & Car Ist 6s 1 NO FA J-J J-J J-J J-J J-J J-J FA FA 95 1923 Carb<& Shaw 1st g 4s... 1932 .1951 5s.. Chic St L<fe g Registered 1951 1951 Gohl 31-28 Registered 1951 Memph Div Ist g4s... 1951 Registered St L Sou l8t gu g 43.. ..1931 MS 1935 J. J Ind Dec & l.st g 6s 1st guar cold 5s 1935 J-J Int & Great Nor l8tg 6s.. 19 19 M-N 2d gold 5s 19U9 .MS 3d gold 4s 1921 IO314 Iowa Central Ist gold 5s.. 1938 J-D Jellerson RR See Erie 111 112 A & <i R See L S & M S Kal an & Mich See Tol <fe O C K C <fc R & B Ist gu g 5s. 1929 A-O 151 MS 10334 111 Kan C & Pacific See M K & T Kan City Sou 1st gold 3s. .1950 A-O 85 110 Kansas Mid -See St L & S F Kentucky Cent .S'ee L & N Keok & Des Mo .S'ee C R I <fe P 9134 115 Jan '01 120^8 Apr '01 116 Apr '01 123=*4 Blar'Ol 11 81-2 89 76>2lll so 67 : 101 101 106 Dec '98 98'-2Nov'00 99 1-2 Jan '00 !101 993b 907 99 106 107 106 IOC 103 98>i! 101 IO312 1061a 104 ib4=8 ioa»4 115i2Apr'01 1 131-2 Mar'OO 107i2Apr'01 102i2Apr'98 11£ 103 115 «2 115% IO4I2IO5I4 104 May'Ol Jan '99 i03>Ai04i4 1027nMay'01 9« Jan '00 113 jl04 104>2 10434 I0214 i'02""i"06" 101J2103 101 12 May'Ol . 120 23 May'99 90i4Apr'0] 90 102i8Apr'01 102 i"o"2ii II512 1 10H8Ocf99 91 Nov'OO 10134. 100 ii'i"'! II4I4 Mar'Ol 113 124 90 128 May'Ol Nov'98 May'Ol 12378 Feb'Ol IOOI4 Nov'OO i'24" i"24" 128I2. IO714 Jan'Ol 107 >4 107 '4 102 12 Nov'OO 107 107 105 107 124 100 75 124 96 65 I26I2 11734 115>4 11734 "9914! 102 .... 10514... 106I4... 123J2126I2 124 99 12 99^8 Sale 75 Sale 75 11734 Sale 11734 6914 Sale 6834 122 120 9838 9934 16' 93i4Mny'99 88 '4 89 215 140 143 12 1351413512 95 12 9934 126 128>2 123 '-8 12378 Apr '01 82 14 90 107 <fe Caney Val 116 105 138 123 140 General gold 4s Ferry gohl4i2S Gold 4s May'Ol Oct '98 121 121 Debenture gold 5s 100 75 6'ee 109 llSisllS-V 111 118 94 94 15 100 106 109 65 Nov'97 123 "2 Mar'Ol 107 108 "96" "98' 108 Feb'Ol MS 19:!2 J D J-D M-N J-J J-J MS H on Next 110'allOi2 1109 »2 111% I09I2 111 J'ly'OO 10334 No v'99 961* 96^4 95 100 I2214 May'Ol 122>4l23 103 May'Ol 104 May'Ol 100 Oct '00 9812 99 95 Feb'Ol 103 100 110 113 Ill 105 113 120 1191a-.. 112 112 ... I0314 10334 103 119 130 100 106 116 103 130 97ial01 95 95 110 110 Feb'Ol Jan '99 May'OO Dec '00 MayOl MaVOl 103 lo 11234 Apr'Ol 99S4 10138 105 102>4 105 100 112 ...lilll 120'« 1131a 9934l03>« 55 112^ ...1111010 471 99 102 ..||116 116 :;ii'3o" 130 1 Dec '00 Apr'Ol Jan '98 Jan 01 l^n^ie. nnd Electric Ligbt NYGELH^Pg 58.. .1948 Registered <fc Columbus Gas 1st g 5s 1932 J-J Con Gas Co See P G & C Co II9I2 1151a 110 Mav'Ol Mar'Ol IO712-.-. II712--.. 109 IIII2 110 107 109 .... Q-J Coll trust gold 58 1931 M-N Coll trust 5-20 g43. 1903-1918 A-O Cecilian Branch 7s 19o7 E <fe Nash 1st g 6s.. ..1919 J-D LCin<& Lex gold 4 los... 1931 M-N O <fe Istgold 6s.. ..1930 J-J tins 124 "8 101 >8 Sep '99 QJ 121 . Q-J 104 . 193S J-D 'IO3I8. 1922 M-S J-D M-S M-S YB<fcMBlslcong5sl935 A-O Y& R B 1st g5s 1927 -MS IO8I2 N M Continued BONDS— MISCFXCANEOUS 108 121 ,117 /il931 NorShB 1 St con ggu 5s 01932 La <fc Mo Riv See Chic <fe Alton Louisv <fe Nashv gen g 6s. 1930 Gold 5s 1937 Unified gold 48 IO712IIII2 1940 Registered 1940 1231212414 13 107 111 72 12 Mo P 1949 1934 Bklyncfc Mont lstg68.. 1911 1st 5s 1911 N N 122 320 110 67 109i2Oct '99 IO712IO9 Unified gold 4s 121 lllMMay'Ol i'oo'i^ !!!!. J-J J-J 122 120 110 111 111 112 '. Long Dock See Erie Long Island 1st con g 5s. /il931 120 121 105 Apr'Ol 138ioApr'01 1067j, IIOI2. A-O iie" A-O & N Y 1st guar g 4s.. 194:" .MS MS N Leh & H lid R See Cent of N J Leh & Wilkesb See Cent of N J 13612 1151211714 llSiiMay'Ol II3I2... 117 May'Ol 94 Feb'Ol 105 Sale 105 106 II212 113 Apr'OO Ill J-J J-J 69 14 35 63 14 Oct '00 110i2May'01 M-N M-N 191.' Registered El C <fe 1st. g 1st pf 68.1914 Gold guar 5s 1914 1361.2 1 '3612 125 A-O Leh 106i-2Apr'99 140 May'Ol 1 35 14 May'Ol Gas and Electric Lifclit Ch O L & C Co A'ec P G C Co Detroit City Ga8g5s 1 923 J-J Det Gas Co con Ist g 5s. ..1918 F-A Bkn See K Co El 111 E L<fe P Kd 88 Sale 1950 A-O Knoxville <fc Ohio <See So Ry Erie & Wist K 58.. 1937 Iake J 2d gold 58 1941 North Ohio 1st gu g 5s..l9 !5 112 11: L Sho & Mich S See N Y Cent I/<diigh Val (Pa) coll g 5.. 1997 II2I2II2I2 Registered 5s 1997 Leli Val NYl8tgug4i-2S. 1940 Registered 194( 118l2ll9'ti Leh VTerRy Istgu gos. 1941 Registered 1941 12078 121 Leh V Coal Co Istgu g 5s. 1933 116 118 Registered 12334 124 193: Pitts SuU Co Branch l8tg 58.1930 A-O Ev<b Ind Istcon g-ug6s..l926 J-J 105 Mar'98 109'2 110>3 99 J-D M-.S J-D J-D J-D J-D J-D 1951 J-D 1st consol gt,ld 4s 121 Sale 106 12 108 135 Ill 121 115 Eureka Springs 11413 'lis IUV2 U'lOSUllSia 1948 Pnrcha.se 101 106 10134 118 llSiaMar'Ol NYG& E LHAV KqGLN Ylstcon g 5s.. 1932 M-S Eq G Fuel .See P G * C Co Ed E lU 1951 1951 1951 1951 1951 Ist gold 3s sterling liCroy 1351-2 RR Istgu g5s....ttl909 .\-0 Long Dock con.sol g 6s. .1935 .V-O Coal & KR 1st cur gu 68.1922 M-N Dock & Imp Ist ciir 6S..1913 j- Erie 10234 10284 111 May'Ol 11134 11134 111 M-S 1141-2 A-O 120 122 J-D M-S 141 142 .MS JelV N 151 9214 Feb '98 11 3 "2 May'Ol M-N S 190!^ ,r-J Small CUic* Erie 1st gold 5s.. 1982 M-N Buft«fc W • 5tliext golil4s 1st consol gold 78 1st consol g lund 7s Erie Ist cou g 4s ijrior.. 199(5 J-J 1991 Regi-stercd Ist consol geu lien g 48.. 1996 Registered 199( BuffK V W Leh & N Y 1947 1919 192 1920 1928 1920 1920 150 117 112121121-2 15934 151 O J-J J-J J-J Sep 00 100 1999 J-J Registered J-1) .\-o High JXo.Low Iligh II Istext g 48. .1948 A-O Col <fe H Tex See So Pae Hoiist E & Tex Cen See So Pac Co llonst Illinois Central 1st g48..19."l J-J & January 1 \ M 100 91 115 <fe 150 117 Feb'Ol Jan 13612 119 1177s117''b 145 1-2 1 47 12 '01 151 IO2I4 103 lOG Cort 1181-2 J'ne'99 Dec '00 112>-2Fel)*01 im->A May'Ol 150 150 J-D Lex 136 147% May'Ol 150 Feb '01 117 122 ili'iil2'2 112 M-N Jlack 1st lieu g 4s. 1995 1995 Gold 48 Dul <S^ Iron Range Istos.. 1937 1937 Registered 191U 2d"68 S 1 St g 5s... 1928 DulRed Dili So Shore iV; Atl g 5S..1937 Elm 101i2l04i« 140 14012 &NW <fe Eliz 12034 1231.. 1391.1140 103 '2 Oct '00 117"8 May'Ol 11538.... Det <fc . 117 147 DesMoiUnRy Ist g 5s.. 1917 Det iM & Tol See L S & M So Elgin Jol Apr'Ol ISO^dApr'Ol lOlOs May'Ol 1203.1 . 191.3 J-1) Ist consol guar 7s Rtgiaterert 1915 J-D Ist 68. ..1921 J-.T Ijick& Con.strnction 5s 1923 1929 J-J Itegiatered W See . Since S~ '^C^ Ry Registered Q.J PA Western .58. .So Tloek Val Ist consol g4i2S. 1999 J-J Coll'l'riist ColoradoA; Son Ist g 4s... 1929 Coluin & Grccnv .See So Ky Col <k Hock Val Nee Hock V'al Col Conn & Tt-rni See >f ifc Conn & Pas llivs 1st g 48.1943 A-O Sec C <fe St P <fe Gt So & Se^ Registered 83 '-2 Sale Bak alias & Waco gu g 1st gohl 3128 Col Mi.Uand Ist g 3-48.. ..1947 .T-J 1947 .T-J Ist gold 4s Del Lack Ist Georgia Paeitic Han oii.-^atonic See N Y N H & las^ 136 »2 Mar'Ol KK Jtaricttii Kl:iCen A Pen Ist g 5s. ..191.8 J-J 1*108 111 Ist laud gr exl gold 5s..l93o! J -.1 1943 J-J 103 Consol gold 58 Fort St if D Co 1st g 41-28.194) J-J Ft A Den C Ist g4-C«..1921 J-D 1 1 12 Sale & Rio Gr Ist g 3-48.1928 J-J 89 Sale Ft / ' al H ar & S A See So Pac Co V XalH<feHofl8821st -.8.1913 A-O 101 Sale Ga<S# Ala Ry Ist pfg.58... 1945 A O ' Viii ol 945 J .1 ...... 1 Kt consol 5s P.egi.slered W Aik Low Bange it. Lout Sale W Mav'99 May'Ol Ncv'99 104 104 137 Week's Range or [Bid «l Gila Vfi& Nor A'ee So Pac Co 99 981410414 G011V& Oswegat SeeN YCenf 102 105^ (irand Rap &. Ind See Pi nn Cu Gniv's Pt Term See St L S 106 "i'06' GlXor— CB&QcoU tr4h 1921 & St Jo See C B & Q '01 Apr '01 . let gold Is KcgJKtcrtMl Price Friday May SI Fargo <fe So ««« Cli M <fe St P lintiPercM *e«!'ereMar Ga Car & No . SprcfeCol Div 1st g 4s. .1940 .M-S Div l8tg4»... 1940 .I-J C I St li <V; (; consol 6s. 1920 M-N BONDS STOCK EXCHANGE Week Ending May 31 N. Y. - <fc 99 99 103 071 2 W W .S!ce Cairo D\v 1st gold 4a....l9S9 J-J CinW&.AI DiV 1st i<4». 1991 .r-j St L Div 1 St col tr g 4s. 1990 .M-N J 1 . 102 10134 12 Apr'Ol 94 102 103 102 See 118iall8i2 <fe Berg Co c gos. 1949 J D, .. .102 102 Apr'Ol 1922 J-D Gen Elec Co deb g 5s 185i2Apr'01 GrRapGLCo 1st g 5a.. .1915 F-A 10734 Dec '00 K C Mo Gas Co 1st g 5s...l9'22 A-O Kings Co El Life Pg 5s... 1937 A-O 109 Purchase money 6s 1997 A-O 125 Sale 126 126V 13 EdElIlBknl8tcon g43 1939 J-J 9612 Dec '00 96 LacGasLofStLl8tg58.el919 Q-F 107 107 14 107 14 "i Mut Fuel Gaa Co See Peop Gas * 2{o price Friday; latest bid and asked ttiia week, a Dae Jan Gasifc Elec 101 155 1021a 1851a l'24ial25ia ' 107 110 dDneApr Ed El money g 4s. ..1949 97 Sale lstconvg5s..l9H)... „, 107-18 .„. 109 l9t consol gold 5s 1995lj-J 120 NYitQEl UfcPlsleong5al930,F 104 14 Sale Patcrson <fc P G <fc E g 5s.l949iM Peo Gas cfc C l.st gu g 63. 1904 M '2d guar gold 6s 1904' Ist ecu gold 6s 1943 A 120 Rchmding gold 5s 1947iM Ch G-L & Cko 1st 2U g 5a 19 1937' 109 Con G Coot Ch 1st gn g 5s. '36' J106 EqGit F Chi at sug6s.l905iJ 104 Mu Fuel Gas 1st gu g 58. 1947IM 102 ifl Trenton G & El 1st g 5s..l949lM Utica 1st s i g 58. 195ol J Western Gas Co col tr g 5s 1933 M Jc Dae Aug < Dae May 7»DaeJ°]y Dae Oct 111 . FLAP 97 108 97 MayOl 115.1 94=4 1211-iApr'Ol ....|ll21 IO4I4 10 104 104 107 104 J'lv'OO ilar'Ol ..!103 126 106 Mav'Ol ..11120 Dec '98 Mav'Ol 98 ....I1IO6VIO9I9 121H 104^ 104 126 104 la Apr -01 105 Mar'Ol 109 Feb 01 !!aos"' lOS 111 10434110 ..Il03>2l041a ..;,U>2 105 ..1109 109 107 la Jan '01 ...|il07iQl07ia 111 lOSi-j g lOSH Due Dec fOsUonsale — ; 1072 JjOild BONDS K. Y. STOfiK EXCHANGE Week Ending May 31 'Xonisv & 1930 J -J gold Gs. ..1920 Wl-S Pensacola IHv St I^Div 1st gold 6s 1921 M-S 1980 Sdsiild 3s Week's Range or Since Last Sale JoMuary 1 Aslc II9I2. i26"^ Nl-S Jfigh No Low High llOiall'J'-j 100 May'Ol llOJ^Mar'Ol 115 115 113 Apr '01 KentiKkv Cent gold 4s. .1987 J-J !.,& N it .M * M Ist g 4H2S 1945 M-S N Fla & S 1st gii g OS.. .1937 P-A 112 Pens & Atl 1st !?u g GS..1921 F-A 113 S & N Ala cou gu g 58..193G P-A II3I2II5' 112^2 May'Ol 1910 A-O Sink fund gold 6s 100 Mar'Ol 97 Xi & Jeft' Bdge Co gu g 4s 1945 MS Hee O I & L !.X N A & Ch • . ' Coal Mahou anliattan By consol 4s. 1990 A-O 10414 105 IO514 May'Ol II6I2 May'Ol 104 i-i Sale 1990 A-0 Metropol El 1st g 68.. ..1908 J-J Coloniz g 5s. ...1934 J-D McK'iit & B V See K Y Cent Metropolitan El See Man Ry Me.K Cent consol gold 4s. .1911 J-J 1st consol income g 3s.al939 riy 2d consol iuconie g 3s..al939 J'ly 191" A-O Eqiiiptt collgoldSs 1919 A-O 2d series gold 5s .Mox Internat 1st eon g 4s. 197 M-S 192 J-1) iMes Nat 1st gold 6s Kegisterod 116 MauSW 2d inc 68 A cp stinpd..7i.l91 2d income gold 6sB...7tl91 i SMex North 1st gold Registered ' 6s. ...1910 MU & N W M 84I2 Sale 32'8Siile 32 14 22 211a Sale 90 \i Sale 100 83 21 .M-S Aug J-D IOGI2 Apr '01 1-. 123i2Apr'01 122i2Feb'01 117 117 10334 104^; 104 118 104 ''11612 1181-. 97 103i2Apr'01 98 Apr '01 99 82 102 P-A 1944 M-N Sale Sale Sale 99 82 82^2 102 lOOSgNov'Og 00 Mar'Ol 102 104 lOo^eApr'Ol 90 Apr '01 M-N 102 98 128 55 9 104 92 92 109 14 114 Sale 121 106 Sale 106 106 114 115 1091. 1211a 105 114 122 106 119 Sale 106 106 10 Mav'Ol 108 100 106 115 116 114''8 94 1151-2 8 '51 11434 Apr '01 * 114^2 93 Sale 94 151 W Moha^vk & Mai See N Y C & H Monongahela Biv See B cfe O Se^i St PM <fc 75 97 1-. IO31-. 98 9910 106 1^ 1st consol gold 5s 192S Jasper Branch 1st g6s..l923 McM & Al 1st 68.. 1917 Branchlst6s....l917 I^'ash Flor & Shet See L cfe N MW T&P llOkJ'ly'OO 108 ' 131 126 94 131 130 9434 95 95 132 110 1151-2 . 131 Jan '01 May'Ol 9512 1151-. lOliaApr'Ol IOOI2. 129 . 11334 II312 i20" May'Ol YCent&HB 1st 7s.. .1903 J-J 1903 J-J 199 J-J 1997 J-J Registered Debenture 5s ..1884-1904 18S4-1 904 of.. .1.^,^9-1 904 Debenture g4s 1S90-1905 Registered 1890-190 1905 Debt certs ext g 48 Registered 1905 Eake Shore coUg 3^28.. .1998 of. Registered Regist deb 5s . . M-S M-S M-S J-D J-D M-N M-N Dec'99 Clearfield Bitxrm Coal 117^8 May'Ol 117 128 143 132 128 103 130 Dec '00 14638Apr'01 14638146% 103 103 103i4Mai-'01 118i2Apr'01 102 12106% I02I2IO3I4 II8I2II9 1011; 111 Dec'99 129 116 108 May'Ol . 107^2. 1077g Mav'Ol 109 Vj 110^2 IIOI4 May'Ol 109i-2Mav'01 IO5I4 May'Ol IO5I4 May'Ol 'IO514. 10514. 127=8 ISO'* 127i2Nov'00 110 Mar'Ol 1061a Nov'OO 110 I2412 1 22 12 May'Ol 126 126 113 Apr '99 120 121 1221a 125 la 12334 A-O 199 IO71-; 110 108 Oct '00 May'Ol 107 Apr '01 102 Feb'Ol May'Ol Feb'Ol NY&NE "SceNYNH&H NYNH&Harlstreg4s.l903 J-D Convert deb certs $1,000 Small certs $100 HoiLsatdUic B con g 5s. .1937 N H & Derby con g 5s. .litis lst7s 190.-I Ist 6s 1905 200 M-N 132 M-N 117 NY&NE J-J J-J North NYC&H N Y O W ref 1st g 4s. .^1992 M- S Eegis $5,000 only «1992 M-S 107 102 196 195 134 102 200 197 136 110 110 104 la 10434 23 10^ lOliaNov'OS 108 200 195 I34I2 1341a 114 110 Jan '00 Apr '01 ,Sce cS; .105 <fc N Y & Put See N Y C & H N Y & B B See Long Island N Y S & W -See Erie N Y Tex & M See So Pac Co Nor & South 1st g5s Norf & West gen g 6s 1941 M-N 1931 M-N F-A W IIOI2 13212 135 A-O A-O A-O 132 133 130 101 12 Sale 98 J-J 1071a M-N Q-J Q-J Q-P Q-P 1996 J-D F-A Q-F gen g 10538 103 71"% Sale J - J Om IIOI2 May'Ol 132 May'Ol 133i2Apr'01 13138Apr'01 101 12 101 9738J'ly'00 107 Nov'OO lolia IOII3 IIOI4II212 132 136 131 I3312 131 13314 182 991a 104 lOlialOS'a IO5I2 51 10414 106 105 105 Apr'Ol 10412105% 71 14 '713 22 691a 737b 7038 Dec '00 102 129 F-A I2112 A-O 112 114 J-D aoo 104 88 Q-M hio River Ist g 5S.193G J-D General gold 5s 1937 A-O & St L 1st g 4s 1901 J-J Ore & Cal See So Pac Co Ore By & Nav See Un Pac Ore <fe Nav See Un Pac Ore Short I-mc See Un Pac Oswego Rome See O C P & St P ,See C <& Coast Co 1st g 5s 1946 J-D Pac ac of Missouri See Mo Pae 11 7 la Sale 114 112 100 65 73 102 I3II2 Feb'Ol 132 J'ly'99 12212 Feb'Ol 112 Apr'Ol 102 102 ISlialSlia Feb'Ol 122ial22ia llliall7 102 103 8834 May'OO 1171a II712 1151*11753 102 112 95 75 112 112 111 108 111 May'Ol 102 105 Pel) '01 Dec '00 Apr'OO NYC & IO6I2IO8 107 10778 109 11034 IO9I2IO912 104=810612 105 1063* 10214104^8 IO214IO2I4 103 10338 95 99 94 13 97 12 97 12 94 96 97 111 11218 iis" NW Begistered J-J Guar M-S A-O 121 A-O 1921 coU trust reg.1937 C St L & P 1st con g 5s. 1932 Registered 1932 Clcfe Pgeng-ug4i2SserA.'42 Series B 1942 Series C 31-28 1948 D3I2S Series 1950 Erie & Pitts gugSiasB. 1940 Series C 1940 31-28 J-J 111 111 A-O Sink fund subsidy g 6s..l910 M-N Penn Co gu 1st g 412S 1921 J-J 114 1st s fund g4i2S..1917 . 1051^ 102 101 . 1121a. 1221a. II5I4 Dec '00 II5I4 113 Apr'Ol 102 Nov'08 122i2Apr'01 121 Corp— J'ly'98 II414II514 113 1141a 1221a 12618 Oct '00 A-O 121 14. M-N F-A 102 Nov'OO J-J J-J N<feCBdgegengug4i2Sl945 J-J Ill P C C & St L con gu g 412R— Series A 118 Mar'Ol 1940 A-O Series B guar 1942 A-O .115 115 Apr'Ol II6I2 Feb'Ol Series C guar 1942 M-N Series D 4s guar 1945 M-N 109 Apr'OO Series E S^a guar g....l949 F-A 97 May'Ol I36I4 Apr'Ol Ist 78.. .1912 J-J Pitts Ft 136i4Apr'01 2d7s 1912 J-J 3d 78 M912 A-O 128 13212 130 Apr'Ol W&C 95 IO918 106 107 BE 109i2Sep'97 Istsf intgug4sser A 1940 J-J lit) <fc Panama 108 13034 Apr '01 <fc Nor Wis See 8t P M <fe O Nor & Mont See N Y Cent 6Ve C C C & St L OInd & 128 Wl^a 115'78May'00 110 107 I2712I32 2d 5s 130 130 1917 87 12 96''8 1st cimsol gold 4s 19GS 94I2 96 Wash Cent Ist g 4s 1948 110 11634 Nor Pac Ter Co 1 st g 68. .1933 100 IOII2 Nor Ry Cal See So Pac 116 *103i4 lOSigApr'Ol *101l4 102i4Jan'01 *101l4 lOSSgAiir'Ol *101J4 10234 Aug' 99 9<5i2 97I4 F-A 97 Sale 961-j F-A 9612 95I0 95^8 Sale F-A 95 F-A 96 Mai-'Ol J-J il2'" 111 Mar'Ol J-J 106 J'ne'98 1998 1998 Re.gistered 1998 Beech Creek 1st gug 4s. 1936 Begistered 1936 2d gu gold 5s 1936 J.J Cart & Ad 1st gu g 4s... 1981 J-D Re.glstered Mich Cent coll g-3>2S 116 Utica & Blk Riv gu g 4s 1 922 J-J N Y Chic & St L 1st g 48.1937 A-O Eegi!5tered 1937 A-O N Y Greenw Lake See Erie N Y & Har See N Y C Hud N Y Lack & W See D L & W N Y L E & W See Erie 6s.. ..1923 Registered certifio's..l923 StPaul&Dul 1st 5s.. ..1931 ]., Registered 111 Mav'Ol IIOI2 May'Ol 110^2 Mar'OO A-O 125 12... B2dgug5s...fl915 F-A 112 ... Registered • Gold mortgage 3^28 108 IIOI2III 190!) M-S 117 1931 M-S 130 1931 Q-M *109 1940 J-J 109 Begist^-red 1940 J-J Bat C & Stur Ist gu g 3s. 1 989 .1 - D StP&NP II412 31 111 113 35 113 II6I2 112121151a 11034 11084 IIOI2III 1091*11114 11034 Mar'Ol Begistered 4s W BB ^28 114 May'Ol 113 114 IIII2 See Gt Nor St Paul-Diil Div g 4s. ...1996 J-D ilJowH&D Se«NYNH&H K J June BR See N Y Cent Kevr & Ciu Bdge See Penn Co JN O & N E prior lien g Gs 7^1915 A-O I "H Y Bkln & Man Bch .Sec ,3;f Sale 113 6s 58 C B & Q coll tr 4s A-O J-J J-J J-J MN WW Morgan's Ea & T See S P Co Morris & Essex See Del L <fc Thrash Cliat 1 lmprovera't& ext gGs.. 1934 New River 1st g 6s 1932 IOOI2IO8 N <fe By 1st con g 4S.199G Begistered 1996 103 107 CC<feTl8tgug5s 1922 ScioV&NE Istgu g4s 1989 100 100 North Illuiois See Clii & N 106 106 North Ohio See L Erie & Northern Pacific 113 115 114 119 Priorlienry &lgr g4s.l997 II413II5 Registered 1997 8414 96I4 General Uen gold 3s a2047 Regi.stered a2047 IM W & St List 78.1913 J-J 932 J-J 1934 J-J McKees&BVl8tg6sl91S J-J Mich Cent 1st consol 7s. 1902 M-N 1st consol 5s 3 902 83 V N Y 107 IIOI4 114 117 II912I2512 IO914 114 106 Mar'Ol 96I4 104 99 100 96 106 9934I0578 87 la 91 1 M K & T of T 1st gu g 5s. 1942 M-S * ' 9858 102 7s. 1900 Wl-N 1st gug5s...]94( McK & Y Istgu 6s. N Y & Harlem g 3i2S...200() M-N Begist«red 2000 M-N N Y & North 1st g 5s... 1927 A-O 14712 147 I2II2I221-. I2312I231-. il22'ol22i-2 14712 Feb '01 122 12 May'Ol I4712 121 125 129 ffl990 Sher Sh & So 1st gu g 5s. 194:'. J-D Kan C & Pac 1st g 4s.. .1990 F-A Tebo & Neosho Ist 7s. ..1903 J-D 194 A-O MoK<fe Elstgu g5s .Missouri Pacihc 3d 7s 190G M-N 1920 M-N 1st consol gold 6s Trust gold 5s stamped. al91 M-S Registered al917 M-S 1920 F-A 1st coU gold 5s Registered 1920 P-A Eerov& C V A L 1st g 5s 1926 J-J Pac B of Mo 1st ex g 4s. 1938 F-A 2d extended gold 5s... 19 38 J-J St L Ir M& Sgen con g 581931 A-O Gen con stamp gtd g 5s 1931 A-O tTnifled & ref gold 4s.. 1929 J-J Registerwl 1929 J-J Verdi V I <fc 1st g 5s. 1926 M-S Miss Riv Bridge See Cliic & Alt Mob & Birm in'ior lien g 5s 1 945 J-J Mortca.ge gold 4s 1945 J-J Mob Jacli: <fe K C Istg5s.l946 J-D Moh& Ohio new gold 6s. .1927 J-D Ist extension gold6s..7tl927 Q-J General gold 4s 1938 M-S J P Morgan & Co ctfs. Ist Montgoml)iv g 5s. .1947 F-A St L & Cairo gu g 4s. ...1931 J-J KaA&GBlst,guc5s.l938 J-J Mahon C'l BB ist 5s. .1934 J-J . Minn Un See St P M <fcM Mo Kan & Tex 1st g 4s... 1990 J-D Boonev Bdg Co gu g i02"'Feb''06 BW<feOTRlstgug5s.l918M-N M SS M & A 1st g 4 int gu 1920 J-J ;M StP & S S M con g 4 int gu '38 J-J Mont Cent 9OI4 85 12 86 86 13i4J'ly'00 105 Miiy'OO , & , 82I4 N NW 2d gold 4s l8textgold5s 2361 J-J Regi.stered Oswe& WestExlstg7s.l910 J-D 122 & AVa 80 12 86 12 34 12 26 13 233t 77 lOTiaJ'ly'OO 198G F-A Lake Sliorecoiisol2d 78-1903 J-D Registered 1903 J-D Gold3i-,s 1997 J-D „ Begistered 1997 J-D Det Mon & Tol 1st 7s.l90G F-A IO514I0514 115 1171-2 98 148 40 Migh No Low High -D R W&Oconlstext5s.ft.l922 1934 M-N let consol gold 58 Istand refund gold 4s. .1949 M-S Minn & St E gu See B C B & N -M P 1st 5s stpd 4s int gu 1936 J-J Dal 85 33 22 9OI4 8734 103 Is Apr '00 M Soutli 56 IO4I4 1061-2 1910 J-D NY MU & MU & 100 Since January 1 ^ Registered 1121-2 Range Zast Sale Ask Low Bid J Mai Ist gu g 4s. .1991 M-S Income 5s 1992 Sep 83 N J June B gu 1st 48-. .1980 F-A 105 <ft 2d guar 6s 85 Tl'eefc's Range or May 31 <fc Moh J^ice Friday NY<fcPul8tcongug4sl993 A-O Nor<fe Moutlstgug5s.l9H; A-O West Shore 1st 4s gu... 2361 J-J 114 llli-illS 100 N Y Cent H Vi—{ConUniied) Gouv & Os we Istgu g 5s 1942 Pitts Cent See See Erie See Chic & "W L S cfc Mild See Chic cfc •Mil Ch & St North See P & St P St P See Ch •Minn & St L 1st gold 7s. .1927 J-D 1909 J-D Iowa Ex 1st gold 7s Pacific Ex 1st gold 6s. ..1921 A-O ;Micli Oont iMid of J 100 11012 112 25 112 115 963,1 . See L S <& M S , 126I4I26I4 110 stock exchange Week Eni>ing May 31 n. y. 119>-.jMay'01 115 Dec '00 12GI4 Jan'Ol 63i2 0ct '00 Low [VoL. LXXII. BONDS Bange Price Friday May 31 Bid Nashv—f ContinM«d> NO&M2agoW68 IteCOrd— Continued- 11634 118 115 II7S4 1161a 1161a 9934 97 136141361a I3GI4 135 12834136% MISCKLJ^ANEOUS BONDS-Continucd on Next Page Telegraph and TeJcplione Comm Cable Co 1st g 4s..2;}97 Q-J Registered 2397 Erie T & T col tr g s f 58.. 1926 MetT&Tlstsf g5s 1918 JMut Un Tel Co <See Westn Un Y <& N J Tel gen g 5s.. 1920 J^o Westn Teleg -S'eeWestUn Weet Union col tr cur 5s. 1938 Pd and real est g 412S...I950 Mut Un Tel s fund 6s.. .1911 Ncrthwestem Tel 7s 1904 ; K Coal and Iron Cah Coal Mtn 6'e« T C I N Q-J J-J M-N 112 Nov'99 J-J ^11313115 114 M-N 109 Sale 109 M-N *112 116 J-J May'Ol 109 Apr'Ol , Y * No prtce Friday; Col Fuel Co gen gold 6s. ..1919 M-N Col F & 1 Co gen s f g 5s. .1943 F-A De Bardel C & I See T C <fe I Gr Riv Coal & C 1st g Gs..l919 A-O Jeff cfc Clear C & 1 1st g 68,1926 J -D 1926 J-D 2d gold 5s PleasVal Coal Ist gsf 5s. 1928 J-J Pit C& I pur M-N 68.1946 lllSsllC^s Roch& Sun Ck Coal Ist g s f 6s. ..1912 J-D 1051a 109 Tenn Coal T Div 1st g6s.ol917A-G 116 116 Birm Div Istconsol 6s. .1917 J-J 100 13 102 M Co 106, ....'.. J-D Co gug 68.1910 F-A 1st gu g H 101%. 611a. lOS 55 Apr'Ol Nov'OO 10134 104 and aetoed thle week, a Due Jan « Due May 102% 1031a, 13 IO6I4IO6I4 96341031a 106 Ill la 111 May'Ol Apr'Ol 104 105 110 105 101 100 1041a 32 Feb '00 May'Ol Jan '00 80 100 8018 100 70 99 lom 6s. 1922 ,102 lU Alaunfacturing &, Indnstrial Amer Bicycle s f deben 58 1919 Am 1909 IO6I4 Feb'Ol 95 Is Jan '97 107 May'97 80 May'97 105 Oct '00 DeBarCfe I WhLE<fePCColstg5s.l919 J-J &R latest bid IO6I2 1031a Sale m Cah C & oft IOOI2 lOOiaOet'OO 109 Oct '90 M-N lOlearf Bit Coal See YC& C0IG& I ext Ist con g 6s. 1902 F-A Col a I Dev Co gu g 5S.1909 J-J Coupons Coal and Iron lOOia Cot Oil ext 4I28 jrJ>aeJ'ne feJDaeO'ly M- S 1915 Q-P pDue Npv 77 100 « Option sale. 82 — June J Bond Record BONDS STOCK EXCHANGE 1^ WEEK ENDINO May 31 N. Y. —Concluded—Page Price TFeefc'S Range friday JiChige or Since Last Hale January 1 May 31 A sic Low Bid RR Ist real est g48-1923 M-N Pean — . ; 1901. J 1, 108 Jfigh No Low High May'97 1005 J-J CoiiBol storliug Kti8 2dgold4'2a Pere Marq— F & P M g h\\)'l\ . & W& & . J , P Pitts M& Y& NY & & & Beading Co gen g 4a Registered Bcnsselacr & Sar & Uau Bicli 11234 Mar'OO tied .Vee FA 112 J-J J -J 107 117 IW-S Gen Jan'Ol 112 M-N 973.1 . 114«.i 114 "2 127 112 . Feb '01 114 May'Ol May'Ol 137 Nov'97 126 108 109 127 1141-2 1161s iBt g6.s series 1st gold 68 So y&'ee LSW Illinois 122 121 Nov'98 J-J 95 ' 90 J'n_6*99 . A-O liekj. J-J J-J 10034--- M-N 101 120 - 9638 Sale 11338 118 98 J'ly 100 Jo Apr' lOO'aMay' 1211-2 Mar' 9618 96 9, 92 Apr' 100 IOOI2 98 10078 121 1211-2 92 12 96 12 92 92 A-O A-O J-D n05 J-J J-J 84 10034 941-2 Sale •295 101 Mem 94 ' 00 100 101 100 1 . . 96 963j May'Ol 9114102 96 100 97 101 Apr '01 May'Ol J'ue'OO 79''4 Sale 9612 9534 79 14 80 A-O 115«8. USTgFeb'Ol J-J J-J 140 . 140^4 13734 J.- 1151-2 II6I2 116i4Apr'0] J-J llgiallS^e 140=8 142 1403.) Feb '99 S2 llHisApr'Ol 116 May'Ol 107 Is May'Ol 106 May'Ol M-N 116 J-D 106 J-D 107i-2Apr'01 . 8 Fe Pres M-S &W W &W &N Roalst58 1926 Car Cent 1st con g 4s. ..1949 Bher Slir & So He^: 31 K & T Sil Sp Oca <fc G -See Sav F & Sod Bay & So 1st g 58 1924 So Car & Ga See Southern Bouthern Pacific Co 2.5 year coll trg 4^28 1905 Gold 48 (Cent Pac coll). /cl949 fcl949 J-J Apr'99 A-O A-O J-J Jan'Ol 104 ret gu g 48 1949 Registered 1949 Mort guar gold3'-2S..fcl929 Registered fcl929 11034 Nov'OO 120 107 Feb '01 103 110 108 Apr'Ol 106i2l09»4 110 110 110 Apr'Ol IO6I4 Xov'97 108 108 '4 Sale 10778 10334 87 10334109=8 106 109 iio' J-J J-J 84 87 J-J J-J 10434 Jan lie's nO'2. 108 109 1926 M-S 95 12038.... . 110 110»4 104 9434 94 106 12 10934 87 87 K&T M g4i2S.. See J-J J-D 101>4 Sale IOOI4 IOII4 98 951^10154 93I4 J-D 9538 sale 9538 856 83 95 12 J-D 85 Nov'99 70 6£ 88 96 100 83 14 108>2 102 12 891-2 109 llCa 120 120 93 >4 95 "3 120 Mar*01 94 12 May'Ol 120 120 117 Mar'Ol Apr'Ol 117 11413 Apr'Ol 11 934 120 1171312014 117 121 II3I4II6I3 iisi^! St List 1939 A-O 113 1894.1944 F-A II5I2 1st con gold 5s M Kan* M: Ist a-O IIII2 M-S J-D 119 Mar J-J II512 Sale A-O 111 K^orth 109 IO914 106 109 113 1151a 116 1191a 116 lie Dec '00 83 109 102 109 109 Oct '99 Jan '99 J-d gug 4s. ...1990 A-O Un See 113 II312 113ioDec'00 911-2 Sep '00 II912 May'Ol 117 J'ly'OO 116 Mar'Ol llOiaMaVOl 11514 1161a 115 Mai-'Ol 115 104 Feb '01 1201-2 Mav'Ol May'Ol 104 104 11513120 Hi 90 100 1141a 11510 II514 Jan '01 108 May'Ol 97 lo 971-j MayOl 93 13 9310 94 91 12 91 MayO'. lo P tic Wist gold 4s. ...1917 J-J TolStL&Wprlieng3i28.1925 j.j <fe 124121271a 12418129 122 12334 99 93 91 Tol <fc 27 12 May'Ol 129 Apr'Ol 12314 123 14 101i4J'ly'00 109 Apr'Ol 1 W 85I4 8412 84^8 Sale A-O 9934 Apr'Ol J -D 100 102 108 Apr'Ol J-D 110 j-j j-j 10534 Sale M-X llOVj Sale j-j j .D F-A 105 lo 10534 105-4 MaVOl J- H6I2 II8I4 105 115 106 119 U3 110 115 17 1141311712 II514II514 105i2l08""j 95 86 88 63: 73 no 107 143 105 10 ...m104 107 12 110 1520 103 IllO 109 112 110 Apr 01 llOS 104 ,1041a 104 lo I29I2 12634 128 12734 I2914 Sep j-j J-J 99 94 92 la 9934 108 106=% 100=8 129 110 105 14 130 1181-2 I115 118% Jan '01 Mar'Ol 106 119 113 106 119 Mar'Ol US Pacific R See N Y Cent &W Black See Mo P er Val Ind Y' V irclnia Jtid See South Ry 1939 "\\7 abash Ist gold 5s M-N 117 118 1939iF-A 110 1939 j-j Series B 1939 J.J 69 12 Sale Det<V; Ch Ext 1st g 5s.. 1941 J-J 110 DeaMoin Div Istg 4s.. 1939 j-J 97 100 8t Chas Bridge 1st g 68.1908 A-O Wash Cent 6'ee Nor Pac A WashOcfcW ««« Soutliern WestN Y<fc Pa Istg us.. 1937 Feb '9S 1113* 118 117 Aug'OO Apr'Ol 1931 M-S 193C, m-X 19:i6 vi-N gold 3-4a 1943 Income 58 dl943 West X'o Car See Sonth Ry West Shore See X Y' Cent Va & Pitts See B & O Istg 6s. .1911 Wlicel'g <fe L E 1st g 6s. ..1920 Wheel Div 1st gold 53..192S Exton<& Imp gold 63. ..1930 Isteonsol 4s 1949 Wilkes A; East Se^ Erie Wil & Sumx F .See St P <fe Winona & St P ,SVe C <fc A-O 981* Sale II714 II712 May'Ol 110 10034 Apr'Ol 60 12 69" 110 MayOl 98 14 Mav'Ol 110 May'Ol 120'% 98I4 40S5' J-J F-A M-S 112 111 95 110 112 ..|| .. 120 95 31 9S34 98>9 122 1001* 40 llSiallSi* 114 II712 1111*11634 114 A-O 120»4 9638 1021a 40 69=8 ..110 12085, 113i2Mar'01 114 Mav'Ol 114 112 115 11218 113 111 1141-j 108 Sep '00 92 92 911a 92 J-J 17 117 108 Mar'Ol 40 Nov W WVaCent&P M M I2OI2I22 J-J Gen F-A F-A J-D J-D 120 ' il9" MX 2d gold 5s Debenture series '01 IO8I3 Sale IO712 1081-2 101 101 ^2 101 101 i-j 99^8 J'ne'OO "8834 Sale 88 12 8834 119 N'ov'OO 116^6 Sale VV 9434 Feb '01 lOOi-iFeb'Ol M-N &N i>(>bo 1 erAof LTtica 1121411414 112 J'ne'OO 1261-2 Jan '00 127 123 Deo'99 A«feN Wist gug 5s.. ..1941 J-J Cent Pac 1st J-J J-J 11614 1925 50-VPar gold 4s 116l8ll6l8 Tor Jiani & Buff 1st g 43. /il946 116 1201-2 Ulster&Dellstcong58l92.'; 103 10718 nPacRRcfe Igrg4s..l947 1947 106 106 Rejristere*! 107 12 110 1911 Ist lien convert 48 Ore Ry<feX^avl8tsfg6s 1909 Ore Ry & Nav con g 48.1946 Ore Short Line lstg6s.. 1922 Ist consol g 5s 1946 Non-cuminc A 5s 132 140 /il946 1908 Utah & Nor lst78 Gold 5s m"i'22* 1926 Uni X J RR & C Co See Pa RR Utah Central See Rio Gr Wes W Begistercd 107 108 117 D 4-5s. 1921 M-S W Utah 104 Hee So Pac Co Ist sink I g 58.1919 8av F l8t gold 68 1934 Ist gold 5s 1931 St Joim'8 Div Ist g 4s. ..1934 Ala Mid 1st gu gold 5s. .1928 Brun8& 1st gug 48.. 1938 Sil Sp Oca <& G gu g 4s. .1918 Scioto Val K Hee Nor iSeabife 128 Apr'OO 140 May'Ol 115 Apr'97 121 12 May'Ol 120 Feb '01 A-O 114-''4 M &0 & Ph 1st g 5s.. .1942 SA& AP SF&NP J J-J J-J J-J 1st g 68 St I, Bge Ter gu g 5s. 1930 Tt!x & N O See So Pac Co Tex* PEyEDivlstg6s. 1905 2000 Ist gold 5s 9514IOII2 9200O 2d gold inc 5s 8138 T0I& OC Istg 5s 1935 71 Western Div Ist g 5s... 1935 1935 General gohl 5s 100 1908 A-O Nor Div 1 St gold 48. . . 1 94^. A-O Kegist ered 1948 A-O Minn Union 1st g 63 1922 J-J Mont C Ist gu g 63 1937 J-J 1371a. Eegistered 1937 J-J Ist guar gold 5s 1937 J-J i'2'iia! Registered 1937 J-J Will& S F 1st gold 53. .1938 J-D i233i Registered 1938 J-D St 1* & Nor I'ac iiee Nor Pac 8'x City Hee C St P 1(J6 Con Ist gold 5s Ten reor lien g 5s W 11510 112 May'Ol 11418 Sale )14i« 114i» II512 1141$ May'Ol 134 I3514 May'Ol llSiaSale 118'2 119 102 12 Oct '00 112 100 'a 100 i-j. 100 100 110 113 IIOI2IIII9 86I4 95 136 1371a 125 125 92 14 Apr'Ol 113 Jan'Ol 113 lis 107i2Mar'01 106 1071a Sale 88 14 180 77^ 8814 86 IIOI2II2 II412 11 134 May'Ol IO8I2IIII2 108 11 11-2 Jan '01 108 10608 Apr'Ol 113 113 Guar stamped 87 Ist cy gu 4s. .1924 F-A O <fe 112 1121? West N C 1st con g 6s. .1914 J.J 119'4 121 11134 1141s S & X Ala fiee D & N 111 II418 SpokFaU8& Nor Istg 68. 1939 j-j I2712I35I4 Stat Isl Ry 1st gu g 41-28. .1943 J-D 103 106 112iall9 Sunb & Lew See Penn RR S vra Ring & N Y See D L & 112 FA 113 113 l{egistered 8912 9518 Registere<l <fc 102 88 112 1956 M-N 117 118 19;i>s M-S 114 1938 M-8 1922 J-J 127 12. GaPacRy I8tg68 Knox & Ohio 1st g 68. ..1925 J-J 125 . 191 6s Rich & Dan con g J-J I2314. Equip sink fund g 58. .1909 M-S 100 1927 A-O IIOI2. Deb 5a stamped Rieh <fe Meek 1st g 4s.. .1948 M-N '109 1919 5s So Car & Ga 1st g F. M-N 112 EMinnlstdiv lstg5s..l90H A-O 107 StP 1996 1918 1948 Danvlst g4s Yad Istg guar 48. 1949 R & 191<; & Greenvl8t68 E T Va & Ga Div g 58.. 1930 103 105 80 12 84 92 12 941. Cent M Div J . Ist g4-4i2-58.199^i.i^ J Registered Ala Cen 93 14 94 941-2 1994 1994 «l con gold 06 Registered Virginia Mid ser SctriesESs Series P5s General 5s J-J J-J jfigh KoWlov) Migh Ti'"113 11„ ^-10812113 107i4Feb'01 .IO7I4IO7I4 104 104 ilOO 106 105 14 105 1105 107 106i-.iFeb'01 . 1U6 106>a 92 136 125 1905-1 937iM.n 1 0812 101^8 05 Feb '01 84 84 94 14 May'Ol 94 Low IIII2 May'Ol . 94 Since Janiuiry 1 Last Sale Southern— 88^8 Sep '00 1 1937|.m.im 1905 F.A Ist 7s Sabine Div Istg 68....1912 m.s 1943 j.j Con gold 58 Atl Col 101 102 94 12 Sale 92 a-O Tex& X 1133a Mar Atl& J-J Sale 1912 A-O SPacofNMexlstB68..1911 j.j 1937 j.j H P Coast 1 St gu g 48 A-O Ist g 4s bd cl£s.l9S9 M-N 2d g 4s inc iKiud ctt's...pl989 J-J G ray's Pt Ter Ist gu g 5s 1947 J-D St I'aul <fe Dnl /See Nor Pacihc St Paul & Man 2d 68. ..1909 Isi consol gold 68 1933 Registered 1933 Reduced to gold 4'28.. 1933 Registered 1933 Dakota oxt gold 63 1910 Mont ext 1st gold 4s 1937 Begislored 1937 <fc Stamped Sovithw Div 1st g 5s.. 1947 A-O Kansas Mid lstg4s 1937 J-D l^ouis E F. 191 2 latcon guargSs 107 "2 Oct '98 J-J . < | 1 A-O 1st trust gold 58 A-O Pierce C & O Ist g 6S...1919 St L <fe S F gold 48.. 1996 J-J Cent Div 1st gold 4s.. 1929 A-O Northw Div Ist g 48. .1930 A-O St 113 111 92 134 1920|j.j Ist gu g 68.. ..1907 j ..T Guaranteed gold 5s. .1933! a-O Ore & Cal 1 8t guar g 5s 1 92 j j S A <fe A Pas8l8tffug48.1943| J J SoPofArgul8tg6scl909-10 j.j 1905 a-O S Pot Cal 1st g 6s 1905 a-O 1st g 6s series B 1 St K 68 series C & D.1906 a-O 133i4l33>2 ISSJaJan'Ol 01 Oct '00 123 <fc St May 31 Rang* N YT<feMex gulst g4s. 19121 a-O <fe RR Week's Range or . . & Cairo Use Mob & Oliio L Iron Mount Hee JM P L K C & N ate Wabash L M Br Hee T RR A ot vSt L St L S Fran 2a g Os CI A. 1906 M-N 2d gold Os Class B 1906 M-N General gold Os General gold 5s... 48 int guar. .1921 a-O & T Ist 78.19181 a-O Iht gold Os Jj 1906 1931 1931 1987 golil Morgan's La 1121-2 <fc 2d gold Os Class C Price Friday No of Cal alt LakoC 1st g sf 6s..l9l; St Joc&Gr Isl 1st g3-4.s.. 1947 •£,% Ijiw & Adiron Ist g 5s. 1996 J-J 2d gold 68 1996 A-O St St St i i .S'ee -St ; gu..l93 j. j H A'T'C 1st g 5s int Consol g 6a int guar...l912| aO Ry & Pitts Hee B R P .Bonie Wat & Og Hee N Y Cent Pere Marq SagTus&H Eoch ~ T Ist g 5s. 193:; M-X Hous E & Ist gu g 5sred<;emable..l9: ilf'May'bo D&H Soutli . j 1997 J-J 1997 J-J Bich <fc Meek iiee Southern Eio Gr West 1st g 4s 1939 Consol and col trvist 48 .1949 Utah Cent 1st gu g 4s.al917 Kio Gr Juno 1st gugo8...1939 BlogrSo 1st gold 48 1940 1 940 G uaranteed ;.= Bid Ask Southern VAcCo—(ConUnwd) Gal Har <fe S A let g 68. .1910 FA 112 113 110 1905 J-D 2d gold 7k 104 Mex & Pac 1 St g 58. ...1931 Gila VG & X 1 St gu g5s.l924iM.X I05I3.... Nov'97 102 Nl-N Co cerlfs Ash l8t cou 58.1927 BONDS STOCK EXCHANGE WEEK EXDKG May 31 W M-S 1 Tol Ist g (is. .1922 Pitts Clev Ch tiea Penn C;o Pitts Ft Pitts June Ist gold 68 1922 Erie 2d g 5s. .al928 Pitts ]j Pitts MoKces Y .See Con Pitts P F 1st gold 58 ...1916 Pitts Sh L E Ist g 58.--1940 Isteonsol gold 5s 1943 Pitts* West 1st g 48 1917 1073 N. Y. 113 Ni-N 920 A-O 1939 M-N 1 8t consol gold 5s Pt Htiron iJiv Ist g 58.1939 A-O SagTus<fe 11 Istgug 48.1931 F-A Pine Creek rcg guar <)3...193jl! J-D Pitts Cin & St L See Penn Co (is J MX Cou furroucy Oareg...ffl905 Q-M 1919 M-S Consul gold 6s n.1919 Q-M Kegisterod 1943 Consol gold 4s Alleg Val gen gu g 48.. -1942 Cl<fc Mar iHt gii g4'2S..1935 D B R K & Bgu Ist gu 48 g.'36 GrR<fe Ioxl8tgug4i28l941 Sun <fc Lewis 1st g 48... 1936 U N J KR & Can gou4.s.l944 Pensaoola & Atl Hee L & Nasli Poo & Kast Hee C C C <fe St \. .Peo & Pole Un Ist g 68.. ..1921 5 4 13 89 84 8554 31H I XW WisCeut 50-yTl.stgen4s.1949 J.J S9»4 Sale S9»4 8712 89 Ma vol 7114 72 Mar'Ol SS^gl ISl MISCEUiANEOUS BONnS-ConclndcU. nTAnnractiiiiuK Sc Indnstrial Hide<fc L Ist s fgOs.. 1919 M- S >Tn Spirits Mfg 1st g 0S..1915 M- S A.Tn Thread 1st eol tr 48.. .1919 J- J Itlisceilaneoas Am Bar & S Car Co 1st g 68. ..1942 J. J .Gramercy Sng 1st gold 68.1923 A O in Steel Co deb 5s Non-conv deben 53 Int Paper Co 1st cou g 1910 J J 1913 A o 6s. 1918 F A [Knio Ice (Chic) 1st g 5a. .1928 A O Ifat Starch Mfg Co Istg 63 1920 M Skg fund dob 5s 1925 J Btan Eope & T 1st g 63.. .1946 F Income gold 5s .1946 . S Iieath Co 8 1 ileb g 08..1913 M.N y niisccllaiicona ooltr g4s 1948llUI-S jAmDk&Imp 53 Sec Cent J 95 * SAle 801a 31 95 80 95 lo May'Ol 12 105 Jan '00 9978Apr'01 99 Jan '99 9934 100 Apr'Ol 108 108 108 lo 18) 94 98 93 Aug'OO 108 110 107 May'Ol 95 May'Ol "62iis«Ue 5Bia 83 66 10 Sale ,314 11-8 591 112 116 114 Apr'Ol ..100 9014 961-2 781-2 85 (J No price Friday; N latest bid 106 Sale 105 W& WH AM 90 100 100 105 100 109 107 110 95 93 4613 721-j 12 6 llSiaUS i .AdamsKx Bkln Ferry Co 1st con g 58 19481 F-A Bkln l8t5strctfs..l .... Chic Jc<fc St Y'ard col g 58.1915' J- J DetM Idgr3>-2SS A.1911IA-0 Hack Wat Reor 1st g 58. .1926 J-J Hond B Co 1st 8f g68 1931 IO514 12 104iel09 MS L& Hobokcn I gold 58...19Ul|M-X Iron Steamboat 1st 63 1901 J-J Mad Sq Ganlen 1st g 5s. .1919 M-N ManBch n & L gong 4s. . 1940 Newport Xews Shipbuilding<t • S9 711-iSale 111 31 1-2 Sale SI 8112 113 Nov 99 90 Oct •99 8414 91^ 68 78 111 111 41 291a 35% 30 ...I MN DryDockos NY* Ont Uiud 1st g 63. .19101 J-J F-A St li </l'~>90 Ter Cupplea Stat'n & Prop Co 1st g 41-2S 5-20 year.. 1917 J-D S Y'uba Wat Co con g 6s. .1923 J-J Sp Val Wat Works 1st 68.1901". M-S Vermont Mar Ist s and asked, a ime Jan i Duo Feb dDuoAprttDue J'ne ft.DueJ'ly fc f 101 Foto*97 113 >a J'ly'OO 5s. ..1910 Due Aug n Duo Sop p Due Jfov fl Due I>eo tOpuonsale; . THE CHKONICLE. 1074 (ToL. LXXII. = Volume Exchanges of Business at Stock TKAXSACTIONS AT THE Stocks May 31 jy 01 STOCK EXCHANGE Hailroad Bonds Par value Shares <tc State V S £onds £onds Saturday 2^4,693 $2.5.925.]00 $2,099,000 Monday .5-^2,704, 40.776,400 2,2 W), 500 $11,000 5,400 Tuesday 031.75cS Wednesday 859,SS8| 58,585,S(>'> 83,02(!,:!OO 3,814,000 2.842,000 10,000 TInirsday Friday HOLI ' 1,390,440 Total.. 3, 695. 483^^352, 332. GOO Week ending Sales at Jfew Yoric Stock i.obo 4,143,000 $27,400 $15,158,500 May 31 January 1 May 31 to BONDS Government bonds New Eng Gas & C $17,500 18.000 6,657,000 15,153,566 $15,185,900 $55,750 $1,115,070 2.081,900 556,112,000 $4,663,060 1,189,200 254,218,400 $260,071,260 $559,308,970 $G,692.500| DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA EXCHANUES ^^eek ending May 31 Listed shares 1901 S.aturday Monday Tuesday Wednesday . . I | £ond Vnlisted shares 12,259 14,930 16,664 31,053 sales 2,670 9,404 9,930 11,036 $29,000 44,325 29.077 54,125 Friday 45,333j 120,245 Total Jlotid t 5 5s See Telcgr Weekly Bevieiv $12,900 72.504 116,600 155,410 . . 20,846 59,525 09,056 5,915 179,500 53,886 216,052 189,099 39,936 $536,914 Street Kaii^vays NEW YOKK CITY Bleeck St & Ful F stk 100 ol 38 100 B'way <fc 7tli Ave .stk. 100 232 Islmort 5s 1904. ..J-D 102 2dmort 5s 1914 J-J 110 Con 58 1943 See Stock Exch B'way Surf 1 st 5s gu 1924 ni4 2<l OS int as rental 1905 no3 Cenfl Crosstown stk. 100 255 M-N 5125 1st 6s 1922 Cen PkN & E Klv stk 100 205 104 Cuusol 7s 1902 J-1) Christ'r<fe lOtli St stk 100 175 Col& 9th Ave 5s See Stock E.xch Dry D E B & Bat stk 100 120 1st gold 5s 1932. ..J-I) 116 F-A 102 Scrip 5s 1914 Eifrlith Avenue stock 100 390 F-A 105 Scrip 6s 1914 42d& Gr St Ferry stk 100 392 St Ave 63 42d St & X 100 Istmort 6s 1910.. .M-S 113 981-.. 2d ncoHic Os 1915.. J-J lslmort4.-s 1!150 .J-J M M i Ask Commer & 40 4s g Nov 1 1949.. .M-N i 811-2 821-2 Lalce St (Chic) El stk. 100 135^ 13% Deb 5s 1928 J-J IO21J 103 120 Loni.sv St Ry 5s 1930 J<fcJ ?i:9 102 240 103 112 Common 402 67 116 101 Union Trac(Chic)comlOO I9I4 Preferred 100 (St L Trans) 100 Preferred 100 Gen 4s 1934 J-J UnitTr & Elec (Prov)lOO West Chicaso St 100 58 24 117 105 y iso 208 105 185 list 135 118 103 405 109 Lex Av & Pav F 5s Set' i^t k Exc list Niutli Aveniio stock. 100 198 201 Second Avenue stocklOO 210 Istmort 5.S 1909. .M-:N no7 ConsolSs 1948 P-A !J118 Avenue stock. .100 Sou Boulev 5s 1945.. J -.1 So Fer 1st 5s 1919... A-O Tliii'd Avenue See Stock Tarry P 5s 1928 VkersStRK 5s 1946-V-O 28th <fe 29th Sts 1st 5s '96 Twenty-Thinl St stk. 100 Deb OS 1906 J-J Union Ry 1st 5s 1942 F-A Westchest 1st 5s 1943 J-J Sixth W AM 205 mi n08 212 109 120 225 115 110 Exch list 105 104 14 112 405 103 113 105 108 107 114 415 106 115 110 BROOKLYN Atlan Ave 5s 1909.. A-O Con 5s g 1931 A-O Impt 5s See Stock Kxc E 5s 1933. .A-O B B cfe Brooklyn City stock. ..10 Con 5s See Stock Exch BianCrosstn 5s 1908. J-J Bkn Hgts 1st 5s 1941 A-O BkluyCo<fe Sub SeeHXVi W 5107 113 105 BrkC& N 5s 1939. J.J Gr St<&Ne w 1st 5s '06 F-A Gr'pl (fcLorinier St 1st 6s Kings Co. Elevatedlet 4s 1949 See Stock Nassau Elec prof loo 58 1944 A-(.) I8t4s 1951 J-J NewWb'g<fe Fl lstes4>2S Stcinway 1st 68 1922. J-J 102 101 115 102 12 106 Exch 82 114 97 106 H17 Cong 5s 1936 M-N Gas Secuiities NEW YORK Cent Union Gas 1st Con Gas (N Y) stock Equit Gascon Mutual Gas 244 108 list list ii? 103 109 list 83 116 98 108 119 .Stk E 300 90 110 107 103 12 X list 315 108 12 109 Exch Ust J-J 5111 J-J 108 113 112 1041^ 106 130 135 153 155 115 117 1927-M-N Standard Gas com 100 1st 5s Preferred 1st 5s 1930 luo M-N OTHER CITIES Baltimore Consolidat See 50 Boston United Gas bonds Buffalo City Gas stocklOO 1st 58 bonds Chicago Gas See N Y Stk Cincinnati Gas & EleclOO Col Gas L & Heat com 100 Preferred 100 1st 5s 1932 J-J Consol Gas (N J) stk. 100 1st 58 1936 Con.8ol Gas (Pitts) Preferred Bonds 58 Consum Gas Bait list (J 1031-2 10612^ 80;'4 5 'a list 5 7 67 69 Exch list lOS^g 104 04 96 1-. IO712 I412 83 50 115 City)— M-N N Y Stk 5104 Exch 105 list Gas 100 32 33 JJ 50 105 55 111 Ist 68 1925 Grand Rapids stock 1st 5s 1915 Bosto n 5106 12 J-J 80 50 50 FortWayne (Ind)— 102 ...50 F-A 5IO414 IO5I4 Hartford (Ct) Gas L... 25 t 48 50 38 12 Hudson Co Gas 100 33 35 Preferred loO 5sgl949 100 102 103 Colum Ry con 5s See Ph ila list Indiana Nat & lU Gas— Crossl' wn 1st 5s '33.J-D 5109 12 l8t 68 1908 M-N 46 50 Grand Rapids Ry Indianapolis Gaa sttKk 50 100 25 30 58 66 77I2 Preferred Ist 6s 1920 100 80 M-N 96»4 95 12 { Buyer pays accrued interest. t Price per share. Columbus (O) StRy..lOO 103 36 96 1041-2 J-J t^n Tel (N Y).2." Bay State Tel 100 Bonds 5s 1920 Pacilic Atlantic M-N & 25 Providence Telephone. 50 Southern & Atlantic. .25 Tei Tel & Cable of Am. 15 9515 110 104 70 102 119 75 oston 45 118 90 120 116 Bosto Bosto 122 167 112 78 t t Companies Electric 68 Ti 15 40 20 80 405 1(K> (H B) 1 St pref 1 IH) 2d lucferred 100 Couinion 100 Col & Hock Coal<fc I pf 100 J-J l.«tg58 1917 Compressed Air Co... 100 Con.Holid Car Heating 100 Cousol Firew'ks com. mo Pref<;rred 100 Con Ry Elec Lt <t E(l 100 Consol Rubber Tire. .100 85 425 103 101 101 103 "eo' "22" 96 12 97 no 108 75 124 list 50 120 100 125 ' 65" 87 95 I6I2 18 55 60 10 20 65 75 5 3I2 7 5 100 25 Corbin (;;ibim t Lock. 100 250 Corbin (P & F) Co 25 t 90 Cramps' sh&En BIdglOO 85 Crucible Steel See Stock ExfOl Diamond Jlatch Co... 100 137 Distill Coot America. 100 8-''s Preferred Kit) 30^4 Electric Boat I8I-. KM) Preferi-e<l 100 44 Electric Vehicle 100 11 Preferred loo 15 Empire State Sugar.. 100 1st 68 1015 J-J Empire Steel 4 V, 100 Preferred 100 30 Erie & Western Trans 50 t 50 General Carriage 21*, 100 General Cheniiiial 100 60 Preterred 100 95 Gorliam Mfg Co com. 100 110 Preferred KM) 120 Havana C(mimercial.lOO 1034 Preferred 100 49 28 300 118 n li.st Hkr- J ones-.Tew'l JI ill ]>V n list 1st 6s 1922 85 12612 Herring. llaU-Marvili 100 2 175 1st preferred 100 35 2d preferred 115 100 8 HobokenLand& ImplOO 110 85 9612 106 5s 1910 97 105 International Elevat.lOO 99 Inteniat PowCo pref 100 150 5 6 Intcrnat'l Pump See Stk Exch . MS 90 list 139 8^8 3113 20 451a 121a 23 83 102 7 40 4"* 70 100 Ilia 52 55 50 15 MX Ust. SUver i'ecStk Excii list J-D 95 97 Eddy Electric Mtg Co. 25 t Iron Steamboat 25 t 11-2 21a Edison El III Co N Y N V Stock Exch John B Stetson com.. 100 110 Edison El 111 Co Brk N Y Stock Exch Preferreii 100 115 130 Edison Ore JMilling Co 10 2() t I312 1334 8 Lanston Monotype 11 Allegheny Co Lig'tColOO 165 170 12 luternat'l 68 1948 2 100 2 Is Law.yers' Surety 20 Lawyers' Title lus...lO( 30 15 Lorillard (P) pref 100 25 General Electric Co N Y Stock Exch Madison S(i Garden.. 100 Do pref See Bo.stou list 2d 6s 1919 ai-X Hartford (Ct) Elec LtlOO 190 10 Markeen Copxier Narragan (Prov) El Co 50 t 9313 Mex Nat Coustruc.pflOO New York & Queens Elec Monongahela R Coal. .50 Light & Power Co.. 100 Preferred 50 20 22 Preterred 100 Monongahela Water .. .25 65 70 RhoTsl Elec Protec ColOO 119 Mosler Safe Co 100 14' N ational Carbon Storey General Elec ..10 100 12 United Electric of N J 100 171^ 20 Preferred 100 48 1929 100 Nat Enam'gtfe Stamp 701a 72 Unit Elec Lt <fe Po Co. 50 See Ba It list Preferred K((; 100 Nat'l (4ranioplione Ferry Companies National Salt i'ceNYStk 24I2 National Surety Brooklyn Ferry stocklOO 100 24 NV<& Blst 6s 1911. J-J 113 114 New Central Coal 20 Con OS 1948 See Stock Exch list N E Elec Veh 6^ Trans 10 Metropolitan Ferry 5s Y Auto Truck 100 108 110 100 N Y& E R Ferry stk. 100 09 71 N Y Lo.an <fc Imp 1st 5s 1922 M-N 5 96 N Y' Biscuit 6s 1911. M.S 97 N Y & Hobokcn stk. 100 82 84 Y El Veh Trausp..l00 Hob Fv 1st :>A 1946 M-N 5113 115 1 00 Y Realt V Corp Con 5s 1946 Nicliolson File Co 100 J-D 5 94 12 95 New Y(jrk <fc New Jersey 100 OntiU'io Silver 105 12 107 100 1st 5s 1946 J-J Otis Elevator com Preferred 100 10th & 23d Sts Perry 100 75 80 50 1st mort 5s 1919... J-l) 5105 Pittsburg Brewing 103 50 Union Ferry stock... 100 37 Preferred 38 1 00 Ist 5s 1920 M-N 5 eob 97 Pit t sburg CoiU 100 Preferred UailroatI 100 Pitts Plate GUiss Chic Pco & St L pref. 100 4^2 Planters' Compress SeeH G Pratt & Whitn pref.. 100 Prior lien g4i-2s'30jr<fes 5106 108 100 Con mtg g OS 1930. Jet J Procter & Gamble 91 92 100 Income 5s 1930 181-2 Prefei-red 15 Denver & Southwest.lOO Royal BakPowd pref. 100 69 71 Preferred Rubber Goods Mfg See st 100 69 72 25 Russell <fe Erwin ,5s 1929. .. J-D 97 >4 98 Safety Car Heat <fc Lt 100 Ft Worth & Rio Gran] 100 Pitts Bess & L E 50 35^ 361-2 Simnions Hardw com 100 100 Preferred Preferred 50 73 70 100 Air Seaboard Line See E alt Ust 2d preferred 100 Singer Mfg C:o Industrial and 3Iisccl Standard Milling Co. 100 100 Preterred jVberdeen Copper 25 t 21 22 5s Acker Mer & Coudit...6s 100 Stanflard OU of N J. .100 Aiualg Copi)er See Stock Exch list Am Agric Chem See B o.ston list Stand IJndergd Cable 100 Sloss-Sheltield See Stock Amer Bank Note Co... 50 57 Am Bicycle See N YStk Exch li'sY"' Southern Cotton Oil... 50 26 14 26^4 Standard Coupler com 100 American t'an com.. .100 KtO 76 14 761-2 Preferred Preferred loo Still w.Bierci; Sm Vpt 100 American Chicle Co..lO(i 82 87 50 Storage Power Preferred 100 80 82 100 Anier (jraphophone...l(i 9-s lO's Swiff <fc Co 11^4 12 l.st5s 1910-1914. ...J-J Preferred 10 25 Tennessee Copper Amer Hide & Leather 100 10 Texas & Pacific Co.al.100 Prefened 38 100 40 A-O l.st 6s 1908 68 See Stock Exch list Amer Locomotive subs.. 109 111 Title Guar & aYiist...lOO 100 Pottery com Amer Press As.socn.lOO 85 100 Trenton 100 Preferred 100 American Screw 85 Trow Directory new.. 100 Amer Shipbuilding... 100 32 35 10 Union CopDer 100 Preferred 94 Union Steel & Chain. 100 6 Am Soda Fouu com.. 100 3 100 Preferre<l 1 00 48 52 1st preferred Union switchcfe Signal 50 100 8 12 2d preferred 50 Preferred American surety 50 I7712 I8712 251-2 201-2 Union Typewr com.. 100 100 Amer Strawboaid 100 1st preferred F-A 101 Bonds 6s 100 2d preferred Am Typefo'rs stock. .100 57 60 U S Ca-st Iron Pipe... 100 A:iier Woolen See Stock E.tch list 100 Preferred 100 2 3 Amor Writing Paper. U s Envelope com. ..100 Preterred 100 11 13 100 Preferred J-J 68 70 5s 1919 75 U S Glass common. ..100 100 85 Anthracite Coal 100 Pieferred 100 22 24 Barney&SmCar U S Steel Corporation See 100 125 131 Preferred 50 125 1371-2 Universal Tob.acco...lOO Bliss Company com 100 Preferred 50 125 Preferred 100 Mort Guar... 385 410 Va Coal Iron & Coke. 100 Bondcfe M-S 58 1949 Briti'h Columbia Copper 5 t I712 I8I2 Westingh Air Brake.. 50 1 42 44 Brownlow MdfcM Co 100 Mining. Whit« Knob 100 98 102 Celluloid Co 2'2i2 26 Worthin g Pump pref. 100 Cent Fireworks com. 100 110 t 310 116 4 40 A 8 3 25 t 3>a 12^8 27 13 48I3 48 t , i2l'* 41 100 1534 83I4 83 84 10 . 6 Exch 145 30 •^ 1141-2 N N list 35 31s 138 N . 1st cousol 5s 1948.. J-J 1st 5s 1944 78% 5108 110 Stock Exc 100 NY Elec Lt Heat&Po wej Gold 58 See N Y Stock N Y & East River Gas— & 8OI4 .See 109 105 5103 New Amsterdam Gas— Buffalo street Ry— 1st 6s 1904 Istconsol 5a 1931.. F.A ?117 1181.J Detroit Gas See Deb 6s 1917 A.O 1071-2 110 Essex Hudson 250 100 NY 241-2 7712 89^4 5 I9I2 5834 Bay State Gas io3 OTHER CITIES CliicagoCity RR stk. 100 Cleveland City Ky 100 Cleve City 1st 5s 1909. J J Cleveland ElectrRy.lOO Con 5s 1913 M-S 5s... 5s 1932 Consol58 1945 108^4 Exch Exch Unit Rys Nor Un list Bklyu Rap Tran See Stlt Coney IsUind&BklyulOO 325 IslSs 1903 JJ 5scrtfsindbt 1903.. J-J 108 117 hlist IO212 242 100 105 100 115 107 Preferred 117 Lynn& Bos 1st 5s '24.J-D 51131-2 115 MinneftpStRySs ,S'ee Stk Exch hst New Orleans City Ry 100 25 28 971-2 100 Preferred 100 North Chic Str stock. 100 203 205 1st 5s 1906-16 r-J Nortli Jersey St stocklOO 24 23 4s 1948 M-N 823* 84 Pat Rvcon 6s 1931. .J-D n25 2d 68 1914 A-O 4105 Rocliester Ry 26 100 28 Con 5s 1930 A-O 110 IIII2 2d 5s 1933 J-D 95 100 So Side El (Clue) stk. 100 111 112 97 12 99 Syracuse Rap Tr 5s 1940 list . . Erie Teleg & Telep See B Franklin l()(t Gold <t. Stock 100 Series Sti'cet Railways Bid Ask Indian.ipolis St By S^te Phila list 3 C Hob Paterson..l00 19^1 2OI4 86^4 E.\ch list PotoTeleph..lOO 4s Cucsebrounh Mftr Co Ih, 155 122 314 85 115 1% 160 8 3II2 91 9 32 92 26 2614 4512 3138 '8 9434 05 163 oston list 90 85 45 31 337 340 208 206 95 12 961a ockEi t list. 60 140 165 63 145 1721a 137I2 141 135 141 230 250 6 4 25 20 70 72 793 800 210 Exch t 55 32 list 35" 120 125 70 65 10 105 5101 20 t 12 t lOli 103 . 1 IOH2 110 §106 500 62 >2 8 671a 70 6i8 5 t t 64^8 8712 62 118 116 8i« 6I4 10 SO 671a 921a 64 120 118 81a 40 ta 40 50 40 95 92 39 14 40 139 140 Stock Exch 221-1 2;; 'a 65 671a 9 8 1 52 185 16 110 1 A tie: Bid Preli-rred & Telephone 5s 1909-29 & ist 96 H 38 42 94 100 52 50 18 92 (ias (Milw).10() Eleetro-Pneuni'icTraulO Fort Wayne Elec Co 6s.. Outside Market See 7th Page Preceding. Bid 100 BellTelcpli of Buttalo 100 Central & So Anier 100 Cliestfe \m\ 1 la li.St J-J N Y Stock 75 110 141 58 24 27 to 50 Stk E xch 50 <fc OutFide Securities J''or oston Providence Gas N Y N J Telephone 100 sales 9.717 6,785 10,301 7,218 14,143 29,482 30.686 55,732 HOLT DAY Tlmrsday Unlisted shares Listed shares 51ti7i-2 St Jo.seph (Mo) 100 5s 1937 J-J St Paul (ias st<iek 100 General 5s 1944. ..MS International Ocean. 1()(» Mexican Telephone See New Eng Telephone See Northwestern Teleg. . .50 Pliiladelphia 52^2 72 Sec Phi Hudson Rivi'rTeleph 100 Jioston 45 Phihidelphia Co Eni]! I B Sec 0& Ind Con Nat* 111 100 1st 1926 J-l) People's (jas& Coke N V Industrial and Miscel Cent Fireworks pref. 100 Cliatcaugay Ore & I 0s'15 dies & O Gram El iuc Clatlin New.ark Gas 68 1944.Q-J 5140 Newark Consol Gas.. 100 55 5a 1948 J.T> 5105 . $27,400 State boud.s RR. and mis. bonds Total bonds.... A-O 1926 Western $118,475 par.. sliare.s, 1st 6s 1st 5s 1946 1900 1901 59.109,243 Stocks— No. .sliaies 3,695,483! 156.260,134 1,287,442 Par value $352,332,600 $124,874. 200!$15,191, 0(17, 82.5l$5,072,701, 71 Bauk Tidgansport & Wab Val1st 6s 1925 J-O :\radisou(Wis)Gas .stklOO .Sj-racuse (ias stock.. 1900 1901 JixcliaiHje Ask Bid (Is DAY 137.419,000 Securities 100 30 20 5s 1922 A-O 5102 103 Laclede Gas See N Y Stk Exch Lafayette (Ind) Gas l.st 6s 1924 :M.X 43 52 WEEKLY AND YEARLY DAILY. Week ending NEW YORK Gas Kansas City Gas 534 187 17 115 « J June 1, 8 " ' t . 1 . , THE CHRONICLE. 1901. 1075 Boston, Philadelphia and Baltimore Stock Exchanares— A Dailv and Yearly Record. Balet MItarc Prices— Not P«r Oentnm Prloes. Range of Sale* in ACTIVE STOCKS. Saturday, May May 25. Wedne$day Thurtday, Tuetda Monday, May May 2t' 27. May 29. Friday, May 30. of the Week. Shares f Indloatea onilated. 81. Railroad Hcoeka. *854 •181 848 •106 105 ISO •78 365 265 876 I8BH 183^ 187 187 •248 .... 107« 10P« IB7I9 190 196 106^ 106 106 1S1X '161 158 34S 10a lue 168 103 168 163 •185 844 •105 105 153 •181 •78 74 •72 74 •67M S8 58 144 S8 3B9 85B 184 848 'i83 •B7X S8M •148 147 '34B 183 74 68M 140 I4fl 196M 107M 148 90 •sex 30^ 84H 84H 80« «0H 8S 84V4 8i<k »8>* 196 89K 26H 06^ 28 •04 36 HOH 86M eov< 86)9 lis Fltohbars, pref 188 106 196« 146 37 146 3« 1B8>2 13a>s 73 57!< (Boiton)....100 Boston 4 Albanr " ....100 Boston Klerated, fall paid.. ....100 " Boston A Lowell " ....100 Boston & Maine " ....100 Chlo. Barl. 4 Qnlnoy " ....100 Chlo. Juno. * Un.atook Yds. " ....100 Preferred Chootaw Oklahoma &Onlf.. (PhUa.).... 50 " .... 50 Preferred 853 241 71M 57X 86« S^H 88^ 80^ •86M sen 8S 3SM SbJi 184 3«9 •72 74 3B4>9ace 966 948 37« Lehlirh Valley 35M Massaohnsetts 85)4 90)4 7« 307 73 807 807 71?6 71?< SI 8-ie 7-16 31 '-18 7-18 300 71« 80% Ml ..... 71J4 6-16 810 81)4 ''^I'k 88H 38 6-16 ))8 38 88 88^ 88H 88 b 26M 18-'^ 29K 18-16 86 3BH 34H 84M 8414 34M 8414 84T4 4S 44«4 44>fl 44H H% *44M 44M 45 «0<i4 lon;^ lOOii \G)i% 108 104^ lOOX 101 80 80«( 87M 87H 87^ 89 87li 879i 80H 31W 80M 30% 8IH 31H 8'% 31 ie>» "94" "Vij* H4 28 3'H 88 88 148J< I6>g 16H 04 04 04 116M 114^ 116M118H 114 • i«j4 * 88M ' 83 • new 28i» 132 180 480 148« 133 l2!Ji 18114 ISOJi 178 180 480 480M 436 107 107H 107« 108 830 835 886 836 88 83!4 21M 33 •61 86 •68 73>9 6I>« 83 «1)4 85 60 6'M 86 68 67 78H 'Va" "73" 6J4 ex DM 1>M 13H as 8« 08 »0ai^ 32)4 6 "ssii CM •88 64 i47J< 133 176 48n 133 178 443 108^ Its 820 836 21« 81J< 61)i 85 61H 35 116)4 Bntte 830 880 ai« 21M 6iM 61H 35 6M 6i< 'S^^ 18H 11? 64 75 no inle wa made. 117M •12M 13H 64 Bid. Ask. *as •«• 103 • 06 76H • saaai nsH e 19 • " 10 Dlam State St 6 Domtn Coal pf .(Bost)lOO 118 " DomlronAB.T .... 88 laston Con BI. (PhU) 60 dlsonBl lU...(Bost)100 830 lac Coot Ami. (Phil) 50 84 840' 18 331 880 883 Ind-Bgyp Com(Bost).100 5 7 1 "isii 46 H ( IOC 3M 11 414 10 1 " " 60 Onlted Fruit (Bost) .100 Dn Shoe Maoh.. " 85 " Pref 26 " OS Mining.... 25 DBPHor8eCol.(PhU) 135 3154 i44H IVH 1 Dtah Mining.. (6ost)4-85 Warwick I A 8. (Phil) 10 Wolverine Mln. " ' 89)4 33 2454 80 "36" 60 85 85 8M 66)4 3 67)4 Bonds— Boaton. Am Bail Tel 4s. .1008 JAJ {100)4 101 ATA8Fgeng4s.'05AAO IC8)4 Il03 96 95 Adjustment g 4s.. 1005 Boston Term'13)4s.. 1947 116 117 86 Bos Dn Gas 1st 5s. '39 JAJ 61 2dM5s 1939 JAJ BnrA Mo RIt ex'pt 6s.J AJ 117M - Non-exempt Hs.'lS JAJ 8111k fund 4s. .1910 JAJ 103H 100 Ch Bur A (J 4s 1 933 FAA 101 lowaDlT 4S.1919 AAO 104)4 . Chicago J uno 5i. 1 9 1 5 J AJ ChANoMgu5D.'31MAN Chi A W M gen 5s.'31 J AD Ourr't RlT l»i 5s.'27 AAO OaBAWlst4s.'46 AAO 1 10 |> C8 113>a 109 110 i05 100 Jl-08 «il03 i 98 Oomin Coal lst6s.'13MAS {1 10 ^ast'u istM6sg.'06MA8 {1 11 \ Fr KlkAMVlst6s'33end {1137 Dnst'p'd lst6(.'33 AAO IHl 1 {'136 oonrSa.'lO JAJ {1001 Debenture 5S.1913AAO ;10 ,01 aoa AAO flO 105 KCFt8AUlst7s.'08JAD {114 KCFSAMoones.'28MAN ^130 131 too ; 08 Income 5s..... 87 KCAMByAB6s.'29 AAO «10e ECStJoACB7s.'07JAJ {117 LBookAF81st7s.'05JAJ «106 Mar H A Ont 6b...'35 A AO Mex Cent 4s g.. 1011 JAJ Isiocn lno3sguon-oum 8d con Inc 3s non-cnir.. 89 i 1 1 ; 84 83 3114 38)4 81 88^1 >« 26 25 50 May . 1937 New Bng Tele 5s.' 1 6 AAO 1907 AAO NYANBnglst7s.'05JAJ •••••• 1103 64 i 104 {103 {103 {111)4 litmort6s.. ..1906 JAJ no8% Rutland 1st 6s.. '02 MAN {108)4 Torrington 1st 5s 1918.. West Bnd Bt 5s. .'02 MAN 4)4s 1014MAe Deb 4s 1916 MAN Bonds— Hal tlmora. A Pot 5b Atl ACh Ist 78.1907 JAJ (*• t 11794 103), • • aaaa 94 , .. < . Bxt A Imp 6S.1901MA8 aaaai NoBaltDlv 5B.1H43JAD 183 .....* ConT'r11ble6sl906MAN 100)4 Central By 6s.. .1913 JAJ .* ...1 ..... Consol 5s.... 1933 MAN Bzt A Imp 5S.I933MA8 lis' I'a'o" Chas City Ry iBt 5s '33JAJ Chas Ry O A Bl 5s 99 MAS CharlCAA ext5s.l910JAJ 114)4 iV6li 2d 7s 1910 AAO 104 CltyASub l8t5s.l922JAD CltyA3nb(Wash)lst3»'48 94 97 ColAGmTlst5-6.1917JAJ Consol Oaa 6s.. 1010 JAD U654 116)4 • 114)4 GaCarANlst5sg.l029JAJ 110 GeorglaPlst5-6s 1023JAJ ••• GaSoAFla lst5s.l94SJAJ ll4)4 115 KnozrTrac lst5s'28AAO 80 91 Lake R Kl lstguSs'42MA8 110)4 13054 MaoondkNlst4)4s'90MA8 Maryland Brewing 6s .... 60)4 90)4 MetSt( Wash) lit 5i'25FA New Orl Gas 1st 6b.. .Tar s t 104)4 io6Ji 118)4 •aaaaa 6s 1904 J*J Series 5s 1926... .JAJ Series B 5s 1936.... JAJ ..... A 8eoAyTn(Pltts)5s'34JAD 8aT Fla A West 5s '34AAO Seaboard A L 4s 1950,.,. Loanoertfs L908 Scab A Roan 5s.l9'.i6 JAJ ia?" iVs" m Bl l8t4s'40.MAS Income 4s 1949. ...J AD Ylrg Mid Ist 6s. 1 906 MAS 2d series 6s.. 1911 MAS 3d serlei 6a .. 1 916 MAS 4th ser 3-4-Ss. 1931 MAS Sth series 5s. 1936 MAS .... 80 116 Va (State) 3s uew.'38JAJ Fund debta-Sa. 1 991JAJ 86% 97 76% 76H 1 aaas iVl'" 116 7 8 7 Mar. 18 May 88 Apr. 89 Apr. 80 Mar. 6 19H Apr. 18 7H SH 16 09 146 Jan. 8 Feb. 18 Feb. 18 Jan. 8 Apr. 18 3854 Mar. 6 11)4 Jan. Jan. Feb. IS 8 138)4 Jan. 17 Mar. 80 66 Apr. 18 Jan. Jan. 66M Apr. 18 6 76)4 May May 354 116 20 Mar. 88 .4% May 8 63)4 Apr. 86 40)4 Mar. 16 99 Jan. 8 5:9< Apr. 8 90 Feb. 65 187)4 Jan. 1.735 88 May 6,718 Jan. "eVo 16 16 16 40 64 66 BONDS Bid. WestVaCAPlst6g.'llJAJ Wll A Weld 5S..1935JAJ Bonda— PhllatlelBhla 116)4 ABk Baltlmora— Conolu'd. WestNCcon6s.l914JAJ 180 tr otf s. . MAN 113 BaUs Ter Ist Sa. 1926 J AD 93 BergABBrewlBt6s'81JAJ BBoroGasl8t5a.'38MA8 Cambrlalrou 6s.l917JAJ ChesADCanlstSs.'iejAJ CtaooOkAG gen 5b'19JAJ 111 108% Con Trao of N J 1st 58.. '3a Del A B Bk lst7B.'05 FAA 114 BastAA lat M Ss.'20 MAN 116% 97 Sa "is" lat 6a.' 10 JAJ Income Sa....3862 A&O Bq 111 Gas-L latg 58.193b 109 Hestony M A F con 5s. '24 HA B Top con 5s.'25 A tO Indianapolis Ry 4s. .1933 70)4 80 KCSnb B l8ta8..'20 JAD Lehigh Nay 4)4s..'14 Q-J lis BR48g 1914 Q-Y 108 Gen M4)4sg..l924Q-F 108)4 Leh VC'l lst5ag.'3SJAJ 108)4 109 Leh Yal ext 4s.. 1948 JAU 3d 7s 1910 MA6 187% JAD JAD New'kCoaGas Ss '48 JAD 1923 Consol 6s Annuity 68 Nat Asphalt col 6s 180 43 107 Newark Pass con 58.1930 NYPhUANorlst48 '39JAJ Income 4s. ..1039 MAN 83 No Penn 1st 4s..'36 MAN GenM7 1903JAj 106 Penn gen 6s r...l910 Yar Consol 6s 0..,, 1905 Yar Consol Ss r....l919 Yar Penn A Md Steel con 6s. Pa A N Y Can Cons 5 Cons 4s Penn Steel 7s..'06 JAD 104 108% iVo* 109)4 117 AAO AAO lBtSs.'17 MAN 1939 1939 People'a Tr tr oerts 4a.'4.'-' PhliH Sleo gold trust otfe 108 Trust oertfs 4s PhAKr gen M 5g.'30 AAt Gen M 4a g.. 1930 AAO Ph A Read 3d 5a. '33 AAv. Consol M 7s.. 1911 JAL 69 130 108)4 131)4 Con M6SK...1911 JAL OnBILAPlst4)4s'39MAN DnRyA 124 18^ 457 110 860 BlmAWilm ...**, Bal TraolstSs.l929MAN Norfolk St 1st 5s '44. JAJ NorthCent 4)48.1935 AAO 1 18 Mar. 4 iss'* Apr. 17 Bdlson EHec 5a stk trctfa. BlecA Peop'a Tr atk tr ctf s BaltAPlstesml 1911AA0 NewpNAOPlstSs'38MAN 8 May May May ia8>9 Apr. ^3)4 Feb. 85)4 Feb. 8K Jan. Clt's'8tRy(Ind)oon58.'33 ColumStBy lstoon5s.'3i . BaltCPa»lst5s.l9HMAN Bait Fnndg 5s. 1916 MAN Bxchange 3)48. 1 930JAJ 112% 5s 1030JAD 113% Ga AAlalstpf5sl945AAO 10754 1 May Atl City 1st 58g..'19 Atl Coast L otf s 5s . JAD Bait Beit lst5s.l990MAN iBt 6s tunnel 1911. .JAJ 89% May 96 144 6)4 May 4T4 Jan. 8)4 Jan. Asphalt Co 6s saaa aa 08 1 Mar. 80 Mar. 80 91 AlleVyBext7sl91()AAO • 108 Anacostla AtlQ-LlghtlBt58l917JAD 04)4 37 165i Mar. Jan. 58 33 46 640 856 866 A8k » Apr. 88 sen May Jan. 62)4 Jan. 1816 lat 5s.. 148 *1X (Phlla.) ....100 NBOas AC 6 131« 5,165 " Bid. 16 59M May 16 May 43 830 895 BONDS May 75 Jan. 85 117 3,409 151 8,057 300 7,877 76 i,wao 80C Beaton— Concluded. NewBng oongen5s'46JAJ N B Cot Yam 5s 1029FAA Apr. 8* Apr. 84 100)4 Apr. 80 160 Mar. 11 185 Apr. 8 Feb. Jan. Jan. Jan. Feb. Jan. Jan. Jan. Jan. Jan. Jan. Jan. Apr. Jan. Jan. Jan. Jan. Jan. (Boston).... 100 Pin Dn Trao 6s. 1097 JAJ PotomVal 1st 5s. 1941 JAJ Illln Steel 81st5sg.'a5 9-18 May H 10 ' 7H KCMABlst4s..'S4MAB ; " 6 178 UnBlLAPowpf (Halt) KCCA rrankllnMln'g.(Bost) 36 lUO ••naral Bleat.. " Praf 100 46 2>a 10 140 an 10 50 175 . Ajoadlan (Boat) 25 "iSH " Arnold Mining. 85 8 8^ •• Atlantic Mln'g. 85 8054 81)4 " 25 Baltic Mining.. 41 43 (PhU) 50 •tlllStaal aiM Boston KleoLt.(Bost)100 347 887 Cambria Iron.. (Phil) 50 47 106" (Bait) 1 00 Canton Co 96 Oantan Mining. (Bost) 85 89 80)4 " 10 85 Central OU 11 Con. Lake 8np. (Phil) 50 37)4 " Praf 60 47 6 OauT. Bessemer " a 10 *• a • DaLoDg H A B " IntBntHABM b88 Ask, . (••••• 700 li*,885 Westingh. Eleotrio iiitg... (Boston) .... 60 " Preferred .... 50 ,., 4 8 86 25 86 86)4 Palmetto Co.... (Phil) 86 H Parrott8UACop(Bost) 10 64H 56 PennBlecyeh.(Phtl) 60 - Pref.. 60 Pennsyl Bait... 60 PennsylBteell. 38M 81 PrefT 106 Phlla Oo 60 8854 15 13 PlantersCompT(Bost)100 " 175 Qntnoy Mining. 35 173 " 4 4)4 Uhode Isl Mtn.. 86 1 Santa Ysabel O " 1)4 6 Basque I A 81.. (Phil) 5 854 Tamarack Mln.(Bost) 25 830 385 Tidewater St.. (Phil) 10 7)4 89 38 Torrlngton"A"(Bost) 25 " 38)4 39 Pref 26 3 Dn Oop L A M'g " 85 Old Col Mining. Osceola Mining. 46 Amer.Oamentl(PhU) .... mer. I. AS... 50 UlaRoyale1...(Bost) 35 MinafaoBab..(PtaU) 60 " Fraf 50 UarylandBrew. Bait) ! OC Bid . . Westm rel Coal " 80% WlDona Mlnlng(Bost) 80 44 180 Alionas Mlnlng(Bost) 85 U)t8PADynam(PhU) STOCKS -BONDS NewBngGsAC 1 NewHav lA a.(Phll) NoAmODredg(Bost) 380 80 (Bait.) ....100 WelsbaohCo. "64 "' "ei •75 77 a 36 13-ie 3H 16-16 64 76 4 a nranth alar ( Bost ) 1 " IC '^xTeleotaona aa 160 178 300 • .... BysCoOeuerall " 3M (Phil) 100 iitiO OnltedN J " 86 Trans DnPowA Wast Bnd pref.(Bost) 50 113 WastJar&8B.(Phll) 60 68 Dominion Coal EIrle Telephone 36 69 MISCBLL.—Concluded. 31. • a Steel, *10>4 61M Consolidated Qas 8,380 im I4SI9 ItSH) 3n S3 5« 8 83 * • Cambria .... .... " .... paid. ..(Phlla.) .... Apt. leSiaMay 88 848 800 84)4 Jan. 3519 May 804 86 " " ..i 0,064 ....100 ....100 . US MAT" " " T.. Jan. Jan. Jan. 218)4 Apr. 80 18,878 69 May 81 Apr. 86 86,035 12X Jan. 33)4 May 7 8,616 33 8-16Jan.25 40 May 1 ll,P4fi 10 Jan. 4 a9 7-i6May 1 2,469 3'H)4 Apr. 954 Jan. 8 8,510 34M Jan. 4 9M Apr. 8 7,914 78)4 Jan. lua>9May a 886 83 Jan. 99 May 1 49,96)i 28 May 37 Jan. a 136 1554 Mar, 18H Mar. 80 115 9<5i Jan. 10 Apr. 88 ....100 " ....100 73 73 (PhUa.) .... 50 •6% 6H Marsden Col " ....100 , " 6 tJH National Asphalt 1 ..,,...... .... 50 " .... 60 liM Preferred! New Bng. Cotton Yam, pref (Boston) .... 1 00 " 148 148 New KnKland Telephone ....100 " 34 83 Old Dominion Copper 1.,.,,, .... 25 5)4 694 Philadelphia Bleo.T Spald.. (Phlla.) 117 117 United Qas Improvement 1.. " .... 60 •18 14 United States Oil.... .(Boston).... 36 13H l^K 13 " 84M •68 «% 64 Wot Nash A B. " 100 MlBCBLIiANBOUS. el's 85 6!* • • a Boston 8/6 81M 23 tj26 6 45 166 170 100 897 Boston AProT. " " 100 OantralMass... " 100 Praf OoBn*Passnm " 100 160 Oonn ElTer.... " 100 270 OonsolTrPltts1[(PhU) 60 86)4 " 60 Pnt\ Fla.(Balt)100 South & aa "»8*' " 100 Itt pref " 100 8d pref S'rmant'n Pass(Phll) 60 149 45 60 Hastonr " 73 Pref 60 " 100 Inds Street KG Ft8&M..(Bost)100 101 " 100 160 Praf 60 Llttla Bohaylk.(Fhll) 60 Malna Central. (Bost)lOO 170 82 lUneHlll&SH.iPhlj) 50 60 Nasqnehon'g V. " 60 108 North Penn.... " 54 Para MarqD'ta.(Bost)100 " 100 76 Praf PhUaann&N.(PhU) 60 168H 60 Phlla. Traction 96)4 Pr«ferr«d... 450 113 446 ex * Oharlotte(Balt)100 Boi * Maine pf.(Bost) 100 & Montana & Boston Calumet & Heola 446 llOH \\2\ 6 A.U Chemical 430 78 Amer.Rallwa;s(Phll) 50 Afcrlonl. Preferred! 141H I31M 138 17aH 176 6 May Amer. 84)4 Highetl B-'H Mar. 8 305 Jan. " .... 50 1st preferred. " .... 50 2d preferred (Bait.) ..,.100 Seaboard Air Llna " ....100 Preferred ..(Boston).... 100 Union PaoiQo " ....100 Preferred Dnlon Traction, «17M paid. (Phlla.).... 60 United Ry & Bleo. Oo. ...... (Bait.) .... 60 (Phlla.).... 50 Amdrtcaa Alkali " Preferred, 910 paid .... 60 146)4 148 American Sugar Beflnln«1, (Boston).... 100 " ....100 131M 13154 Preferred! " 178 176 Amer. Telephone 4 TeUOo.. ....100 18 50 WestNYAPa. " Wis Cant, new. (Boat) 100 " Pref 100 63»4 >• 79 (Boston).... SO West Knd Street. raiacellaneoaa 8tooka. (Boston).... 100 130)4 Amalgamated Copper^ asM 39 146!4 32 aAIl.KOADS.— Price* 16>i 88)4 04 117 88 Hi 117H 118 ISM ]3 INACTIVE STOCKS > 37)4 45 44 139 6,808 28)4 1,031 84 3,003 77M ISO 18)4 (Bait.) .... 50 (Phlla.) ....100 " ....100 ....(Boston).... 100 (Phlla.).... 60 " .... 50 Federal Steel. LehlRh Coal 4 Narlgatlon. 6 •Bid and Iked prloef 89M 1«« 04 115M ll7^ 88H 28% 79 64 108H »0H 88 16M 66M 60 143 33 a.^H 45)i 46 10454 90)4 04 117X118 •ISM 13 86 IH Win 'fii's' '33' 04 82 8» 1 I47U 146 •ie« B'JM 88)4 2«M 97H 126 ....100 •• Preferred •808 800 Old Colony 78)4 7854 PenniylTanla 31 0-ie 23 KeadinK Company 7'H 73H 77 143)4 700 135 ...100 Preferred T iJ6M Mexican Central 96 Northern Central Northern Paolflo • 104 261 110 169)4 1 241 01 190 876 138)4 (Boston).. ..100 (Phlla.) .... 60 (Boston).... 100 1. 9\ •25H •04M 03)i Bleot. Cos. Loweit. 1901. 116 96)4 Bxt I mp M4s g.'47 AAC Con of '83 4b.'37 JJ^ Terminal 5s g.l941 (^1 M 107M 106% 186 P Wil ABait4a.l917AAi Coliattraat4a.l921 JAJ 4a. 1997 JA.' Rochester Ry con 58.1930 Read Co gen 8ohRB81delst5s g'36J AD Scran Trao 1st 6s^33M AN Dnit«d N J 4s.. 1044 MAS nnTraoPm. vien5a'97J AJ Welsbaohs f 5s 1930. JAD I 96)4 107)4 106)4 136 And 1001* 06)4 06% 110 118)4 lis 117 79 70% Interest. •Price Inolndas oyardna Di. — w) . . ).. . . . . : THE CHBONICLE. 1076 aM %nvizsimznt [Vol. LXXII, ^axlr0ad %nUV.lQtncz. RAILROAD EARNINGS. table shows the gross earnings of every Steam railroad from which regular weekly or can be obtained. The first two cohimns of figures give the gross earnings for the latest week cr mouth, columns the earnings for the period from July 1 to and including such latest week or month. The returns of tlte street railways are brought together separately on a subsequent page. The following Notice €liange-Our yearly totals Latent Gross Earnings EOADS Current Year Weclt. or Month ; < Ala N O & J exas- N O <& No East Ala * V'icksU'g 18,19S 40,51!) 7J=,278 Pac June IstwkMay latwkMay Sh & P IstwkMay 30,000 13,000 "Vicksl) 11,000 3d wk Miiy Ann Aruor 31,034 Ann Wash & Bal March... 5,895 Atch Top & S Fe April 4,874,740 Atlanta & Char.. February 236.440 36,H92 Atl Knoxv & No. April Atlanta &WPt.. March 62,815 April Atl Coast Line. 638,197 Atl Va'd <fe West. 3 wksApr 15,264 Austin <te North March 19,402 Bait <fe Ann SL... March 7,629 all July 1 to I'revious Current Year Year « Adirondack.. . . March Ala t Southern 3dwk May April Ala Midland now 15,83 37,544 69,064 date from * 149,65 1,970,186 882,587 M March Cm N O & T Pac. Oin Portsin Anril Choc Okl & Gulf. & Va ClCinCh& StL. Peoria (teEast'ii Clev Lor & Wheel Colorado »& South Col Newb & Lau. Col Sand <te Hock Corn wall & Leb . Cumlierl d Val.ey Denver <fe Kio Gi 3d wk May 3dwk May d wk May March arih 2d wk May March... March 3d wk Denv & Southw. March May Det & Mackinac. March Dwl & Iron Ran e February !i . DulSoSh&Atl.. 3dwk May E 6t L & Caroud. April Elgin Jol & East. March Erie -March. .. Evansv & Indian 3dwk May Evansv & T H... SdwkMay W& W.. .March Find Ft Denv City April Ft W& 3d wk May April. Georgia RR Ga South & Bla.. April FtWARioGr... GUaValGA, N.. i'Vbruary . Gr Trunk Svstenj 3dwk May Gr Tr & West'i) 2dwk May DetGrH&M.. St P Minn & M. 2d wk Great North'n— May April 19,988,732 3,006,118 1,782,507 24,777,357 3,870,428 3,167,680 27,214,709 July 1 to Latest Dale Current JPrevious Current I'revious Year Year Year Year $ $ $ 66,000 6,217 93,976 76,840 8,907 72,578 309,70'344,091 15,130,139 15,122,502 485 247 416,424 4,600,935 4,150,645 147,270 1.57,471 6,794,71' 6,718,273 58,356 53,147 514,20 468,958 85,100 94,200 3,703,900 3,931,010 17,230 708,633 691,677 18,829 .54,665 50,762 2,886,665 2,531,587 98,203 98,62 3,901,213 4,595,317 e272,789 192,655 c 13749091 11,4.57,435 522,000 462,000 9,008,940 26,119,952 18,000 22,000 1,179,739 1,175,873 540,000 484,000 30,188,679 27,295,825 127,043 103,979 3,149 3,256 c 443,300 c 423,000 c5,146,200 c 5,062,463 999,466 111,979 124,399 1,041,952 a561,185 a567,946 a6,413,239 a6,017,278 2. .570 24,615 23,566 3,221 4,446,334 4,253,361 46,482,991 45,297,823 460,865 368,131 4,326,292 4,154,846 230,392 211,562 1,888,903 2.044,414 274,419 204,687 14,055,529 12,268,168 645,210 624,710 5,956,579 5,919,479 648,737 589,201 29,951,251 27,854,708 32,600' 31,695 1,321,244 1,188,941 380,553 875,118 3,869,679 8,933,491 104,208 275,591 2,328,286 2,952,511 7,615,132 7,014,932 66,472,588 59,366,338 515.476 522,287 61,406 54,393 157,126 139,160 7,625,816 6,826,824 486,129 374,487 4,518,492 4,270,202 983,307 885,007 8,621.701 8,156,301 54,022 47,782 1,757,758 1,504,3841 1,642,846 1,477,503 16.103,455 16,275,640 209,491 191,766 1,655,118 1,554.429 982,564 873,329 126,615 116.486 345,601 302,318 31.692 29,060 3,483,076 3,285,077 82,065 73,450 ft Ajiril May Mexican intprn'l April 31,000 1,664,247 1,-576,700 t Mexican Nat'l.. idwk May 802,329 722,068 Mejiicaii North'n March 9,000 1,917,003 1,797,687 19,214,773 183,844 231,506 3,033,114 Montana Cent'] April 178,153 123,860 1,815,187 Total system. April 279,000 2,153,053 24,063,O74 Hooking Valley.. 3a wk May 105,246 104,532 4,110,379 Hous & Tex Cent March 393,053 244,058 3,996,609 Illinois Central.. April 2,884,309 2,411,206 30,747,271 Illinois SoutherE March 9,793 86,329 Ind Dec <te West'n February.. 50,652 48,343 493,011 IndlU&Iowa... March... 131,958 105,630 983,090 Int & Gt North'n 3i! wk May 80,760 61,420 4,249,182 WkMay 11 Interoc(Mex) 86,000 77,700 3,473,600 Iowa Central d wk May 36,251 35,021 2,000,072 Iron Railway April 5,151 5,334 48,400 Kanawha & Mlcli 'dwk May 19,949 13,520 815,453 C Ft Scott & M SdwkMay 115,413 96,317 5,889,823 48.223 C i\f em & Biruj 3dwkMay 26,471 1,820,503 Kan City & N W. April 33,136 28,433 338,659 Kan City South'n .viarch / 420,458 346,586 3,488,706 Lehigh & Hudsoi. April...... 38,924 39,123 366,962 Lehigh Val RR.. April 1,982,917 1,910,020 Leh ValCoal Co. .\pril 1,601,690 1,075,930 Lexlng <fe East'n. April 30,237 28,017 290,501 Los Angel Term. March 15,801 10,589 128,104 Lou Hen <Sj StL.. ithwk Apr 17,342 14,255 550,372 Louisv <K Nashv. 3dwkMay 560,620 505,695 25,973,355 K K Month $ 805,455 676,088 9,030,462 8,834,977 26,058 1,250,377 1,089,069 29,904 ^71,687 *45,201 *3,914,235 *2,330,617 99,353 95,630 4,483,737 4,545,545 325,295 30,002 27,089 297,802 344,328 303,653 15,639,193 14.891,868 47,010 41,879 2,179,757 2,092,413 45,488 48,034 1,770,244 1,822,453 300,301 338,653 3,569,093 3,245,651 18.902 18,905 138,886 130,866 22,220 22,957 916,199 877,202 25,774 23,455 190,281 223,027 81,619 76,258 822,849 788,971 205,500 188,000 10,132,601 9,002,633 177,326 223,915 1,789,260 1,867,960 77,290 84,134 626,080 574,230 74,104 2,753,104 2,885,730 77,389 51,129 2,184,582 2,302,588 50,890 12,415 13,976 125,722 129,925 194,451 158,048 1,483,362 1,432,197 3,399,634 2,998,870 28,660,568 28,863,930 5,691 5,967 289,066 322,759 26,021 23,978 1,274,160 1,282,185 6,485 7,335 82,187 93,919 165,012 117,792 1,764,059 1,360,713 13,053 7,543 600,140 433,004 137,035 127,484 1,587,438 1,422,712 91,268 91,425 1,011,392 997,076 29,743 19,951 251,351 229,208 515,674 512,643 23,224,537 22,719,525 74,608 70,468 13,948 15,861 912,774 896,480 East'nofMinn. April or 156,474 Macon ABirm... .2,064,950 1,902,440 20,508,796 18,455,223 May 3d wk May 3d wk May Wccl: 1,881,777 Manistiqnn April 803,848 I Mexican Central 3d wk L Chic St P & O April Chic Term Tr RR 3(1 wk Latest Gross JEarnings EOADS Previous Year i St I. Latest Date 781.400 617,348 8,000 28,053 1,560,677 1,502,393 56,077 46,233 6,274 ,845,367 45,019,910 38,846,193 218,941 1,957,289 1,740,349 349.314 396,163 32,508 554,330 582,585 64,526 596,436 6,448,175 6,140,405 151,602 188,959 12,450 208,644 128,799 11,980 8,493 BaltA Ohio.... April 39,044,060 35,253,791 3,581,752 3,839,615 B «& O Southw. < BauKor <te Arooat April 122,916 119,459 1,204,630 1,010,342 33,521 33,754 Bath & Hammoii March 2,133 1,890 37,550 Bellelonte Cent'l Airal 34,361 4,130 3,599 3u,465 Bndgt & Saco K March 30,912 3,009 3,543 562,fJ68 578,404 Brunsw & West'n April 46,997 48,848 ButfRoch& iits 3dwk May 98,916 129.043 5,126,299 4,336,642 vlaroli BlvU'alo ASusq ... 540,175 594,957 60,051 47,558 Burl C Bap & No 2d wk May 79,370 76,418 4,327,852 4,388,350 Canadian Paciflc 3dwk May 633,000 594,000 27,240,178 27,216,813 Cent'l ot Georgia 3dwk May 111,565 89,825 6,293,161 5,544,456 Cent'l New Eng April 54,102 593,034 592,135 58,996 Cent'l ot N Jersey April 1,340,189 1.236,991 Central Pacitjc. Marcli.... 1,589,277 1,444,794 14,527,833 14,079,494 17.565 Cent'l Pa & West March 1,554 18,104 2,089 Charleston & Sav April 630,119 563,141 55,809 56,178 Ohattan South'n 2dwk May 81,718 81,887 1,433 2,446 Chesap &, Ohio. 3d wk May 292,416 250,399 13,597,832 11,755,059 661.637 595,784 7,531,768 6,474,437 Chic & Alton Ry April.... Chic Burl it Quin April 3,862,313 3,607,920 41,617,145 39,969,250 Chic & E Illinois 3dwk May 114,261 97,797 5,075,159 4,658.909 Chir.Gt Western. 3d wk May 132,044 119,590 6,199.835 5,983,585 Chic Ind &L'v... 3d wk May 81,402 75,662 8,652,135 3,700,057 Chic Milw & St P SdwkMay 715,009 690,031 37,720,357 37,378,150 Chic & North W'n April 3,478,050 3,374,641 35,747,182 35,857,243 Chic Peo & St 1. April 102,241 106,180 1,145,437 1,254,959 Ch & St P ChicRI<&Pac.. July monthly returns and the last two JMexicaii WkMay 1) Ry Mexican South'E 2dwk May Minneap <fe St L. 3dwk May M8tP<fe 8 StM. 3dwk May Mo Kan & Texas 3d wk May Mo Pac & Iron Mt 3dwk May Central Brancli 3d WkMay Total 3d wk May Mob Jack & K C. Wk May25 Mobile & Ohio... \prll MoBt&MexGuU March NashCh <fc StL.. April Nevada Central.. March N Y C & Hud Riv April N Y Out West. April N Y SusQ & West March Norfolk & West'n 3d wk May Northern Central March. North'n Paolflc.ri 3dwk May <fc .. Ohio River Pacific Coast Co. Pacific Mail Pennsylvania^... Pi nn & Northw'n Pere Marquette.. & 3dwk May March..... March .March March .^d wk May March Wilm &B.. March Pitts Bess & L E. 4th wk Mar Pittsb C C & St L April Phlla Phila Erie & Pjttsb West'n. March... Pittsb CI & Tol March... Pittfib Pa& F.. March. . 'lotal Plant system... 3d wk May 7,222 7,978 System- Ala Midland... April Brun8& W'n... Chas&Sav Sav Fla& W... SUSOc&G.... April. April. April. April. 74,278 46,997 55,809 426,439 18,257 69.064 4S;848 56,17 363,68 29,511 882,587 803,848 562,968 578,404 630,119 568,141 4,360,002 3,725,090 181,442 230,933 Beading Co Phil & Read.... April Coal&IrCo.... April Tot both Go's.. April 2 222 26.5 2,170,342 23,145,602 22,112,286 2,'345|039 1,4.59,097 23,474,722 23,756,091 4,567,304 3,629,439 46,620,324 45,868,377 678,824 92,314 79,252 739,548 433,341 380,426 41,145 40,231 484,908 470,186 8,884 10,009 81,700 4,289.817 3,904,759 100,400 110,953 104,127 1,158,800 1,184,429 88,766 111,375 St LKen'et&So. April 10,084 8,118 52,783: February 61,445 StL<teN Ark 5,890 5,455 154,760 8,995,773 7,1Q3,652 St L & San Fran 3d wk May 196,481 St L Southwest 3d wk May 120,939 96,419 6,731,652 5,358,156 168,124 150,702 1,059,273 1,631,064 St L Van & T H April. San Ant & A P. .\pril 226,047 151,456 2,290,975 1,865,213 776,323 84(!,799 San Fran & N P April 68,319 79.791 835,128 880,277 3a wk May 19,438 S Fe Pres <fe Ph. 17,095 3,725,090 SavFla & West.. March 426,439 363,637 4,300.002 Seaboard Air L.. iidwk May 202,794 179,183 9,091,006 8,581,224 3,80-: 354,425 715,295 Sher Shrev & So Ist wkMay 15,897 181,442 230,933 29.511 .SilSprsO&G.. April'. 18,257 213,650 244,729 SoO<&GaExt... .^pnl 19,965 19,920 4,56" So Haven & East. April 3,411 April 42.129 Southern Ind 128,417 170,476 15,102 So Miss (fe Ark ... April 18,270 6,S89,.582 5,406,076 64,597,860 57,582.907 So Paciflc Co 6... April . 208,644 128,799 11,9.80 Austin <fe No'n. March 19,4=02 Cent Pacltic... March.,., 1,589,277 1,444,794 14,527,833 14,079,494 592,047 534,961 5,021,740 4,723,197 Gal Har & S A. Jtarch 393,053 244,058 3,990,009 3,167,680 Hous JcTex Ocu March Loui.s'a West. . March 151,738 119,071 1,285,080 1,032,027, Morgan's L ife T March 647,686 585,786 6,031,417 5,489,509 210,658 228,750 21,472 19,595 N YT<feMex.. March 172,930 2,044,190 1,407,771 March 2,55,777 Tex(fcNOrl SoPacof Cal .. viarch 1,655,282 1,495,04'. 14,025,241 13,270,031; 389,926 326,768 3,205,843 2,887,697' So Pac of Ariz. March March 221,211 161,532 1,724,531 1,491,402^ So Pac of N Southern Railw'y 3dwk May 592,183 555.893 80,241,032 28,140,022: 36,118 34,969 1,843,018 1,717,619 Sti-OuisDivls'n 3d wk May 127,205 122,.528 1,325,786 1,383,469, TerreH &Iud... April 411,260: 459,189 38,826 31,140 Terre H & Peor.. April 625,998 340,112, 11,276 5,011 Texas Central . . .'dwk May 7,753,921: Texas & Pacific. SdwkMay 197,101 145,647 10,192,719 96,323 120,100 8,200 10,000 .. April TexS V(feN 49,174 2,228,381 2,061,822 54,510 Tol (fe Ohio Cent 3d wk May 955,304 23,150 17,297 1,034,14^^ Tol P (fewest.... SdwkMay 28,550 3d WkMay 46,762 rolStL(feW 29,364 TorHam<feBull". April 32,838 Rich Fr'kfib & P . March..... Rio Grande Jet.. March Rio Grande So... d wk May Rio Gr'de West.. 3d wk May April St Jos&GrI •i . . M . 451,811 826,019 3,880,351 3,564,400 2,088,018 62,307 661,521 Union Pac RR . ) 3,418,737 3,002,564 36,260,782 32,720,462 Oreg RR & N V April 5,108,324 Oreg Sh Line. 1.513,226 3dwkMay 315,032 291,420 15,655,458 14,698,561 333,343 Wabash Jersey (fe Seae March 243,710 216,110 2,099,870 2,450,470 3,081,529 982,784 881,610 Pitt.. April 99,535 100,970 405,741 (;47,448 580,691 65,108 73,040 Western of Ala . March 2,573,489 2,319,918; 49,020 55,234 '.:d wk May Wheel (fe 100,600 109,3.SO 4,044,924 4,964,978 245,166 Wisconsin Cent.. 3rt wk May 146,205 141,834 11,006 9,719 91,612 Wrightsv(&T'n.. April 440,864 330,854 5,342,217 4,648,970' 526.769 Yazoo (fe Miss V . 4prll 24,804,179 W W WVCenA LE * Figures from April 1 are for the railroad only. Covers results on lines directly operated east of Pittsburg. Includes Chesapeake & Ohio Southwestein, Ohio Valley and Chicago and Texas for both years. t Mexican currency. Oincludes Paducah & Memphis Division from July 1 in both years. b Includes the Houston & Texas Central and its subsidiary llnea. c Results on Montgomery Division are included in lioth years. Paul Duluth from July 1, 1900. & d Includes St, e Includes results on Slier. Bhr^y, Southern, Mo, Midland and San Afl,tonlo extension for this year, but pot lor last year since May 15, § t ^ • . .. June ... .. . THE CHRONICLE. 1901.] 1, — . 1 Totals for Fiscal Year. statement on the preceding page we show page In the the gross earnings of all roads for the period from July 1, that being now tne beginning of the fiscal year of the great majority of the roads. There S,re, however, some roads that These with their dates are still have their own fiscal years. brought together in the following. 1077 3d week of May. 1901. 1900. 46.762 315,032 100,600 28,550 291.420 109,380 18.212 23,612 9,363,500 8,502,873 921,210 860,627 Increase. full Tol. St. L. (flBoonsln Central. Total '58 roads) Net Increase (10 12 Latest Oross Earnings, Roads. Period. Current Tear. Atlanta & Charlotte Air Line. Bellefonte Central Bnrllneton Cedar Rap. &, No. Central of New Jersey Chicago & North- Westem. . Chicago Rock Island & Pac. Ohlc. Bt. P. Minn. & Omaha.. Apr. Jan. Jan. Jan. J line . Apr. Jan. Choctaw Oklahoma A Oulf.. Nov. Ounaberland Valley Denver & Southwestern Dnluth South 8ho. & Atlantic East St. Louis & Carondelet. Jan. Deo. Jan. Jan. Jan. Ft. Worth & Denver City Gila Valley Globe & North'n. Jan. International & Gt. North'n. Jan. Dec. Lehlsh Valley Dec. LelilKh Valley Coal Manlstlque Jan. Jan. Mexican Central Mexican International Jan. Jan. Mexican National Mexican Railway Jan. Southern Mexican Apr. Mlsfiourl Pacltlc Jan. Central Branch Jan. Total Jan. Monterey & Mexican Gulf.... Jan. Northern Central Jan. Ohio River Jan. Pacific MaU May Pennsylvania Jan. Pennsylvania & Northwes'n. Jan. Pere Marquette Jan. Philadelphia* Erie Jan. Phlla. Wllm'g'n & Baltimore. Nov. Pitts. Bessemer & Lake Erie. Jan. Pitts. Clncln. Chic. & St. L... Jan. You'gh'y. Pitts. Charters Jan. Rio Grande J unction Deo. RR & . St. L. Vandalla & Terre H.... South Haven & Eastern South. Missouri & Arkansas.. Terre Haute & Indianapolis.. Terre Haute <fe ir-eorla Nov. Texas & Paclllo West Jersey* Seashore Jan. Jan. Jan. Jan. Nov. Nov. to to to to to to to to to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to I to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to 1 to I to 1 to 1 to 1 to 1 to 1 to 1 to Prer>uyut Year. Feb. 28 2,470,627 2,239,533 14,381 Apr. 30 16,463 May 14 1,717,267 l.*;27,090 Apr. 30 5.273,793 4,774,188 Apr. 30 39,435,353 39,402.544 Mar. 31 26,Ofi6,075 23. .'552,045 Apr. 30 3,190,182 2 942,027 May 21 2,541,509 1,031,015 237.37 8 Mar. 31 219,511 Mar. 31 >«76.350 766,361 May 21 8e8,8!^4 930,931 .'.1,852 50.839 Apr. 30 47.'=),2.'S6 Apr. 30 685,365 Feb. 28 59,717 48,941 May 21 1,740,201 1,402,729 Apr. 30 10,8.=i8,8n 9,873,273 Apr. 30 8,915.898 7,052,462 34,044 Apr. 30 35,872 May 21 6,886,23."^ Apr. 30 1.959 983 2,988,242 May May May May May May 21 11 1.6.56,200 14 111,434 21 12,278,9o8 21 442,o2'2 21 12.721,480 Mar. 31 332,689 Mar. 31 1,911,325 505,471 May 23 Mar. 31 2,885,691 Mar. 81 21,717,837 Mar. 31 178,142 May 21 3.195,810 Mar. 31 1,328,366 Mar. 31 4,647,825 Mar. 31 376,519 Apr. 30 6.491,243 193,917 Deo. 31 Mar. 31 158,920 Apr. 30 970,472 14,097 Apr. 30 Apr. 30 67.609 Apr. 30 765,027 273,473 Apr. 30 May 21 4,490,571 Mar. 31 610,564 6,980,870 I,7H0,879 3,105,689 1,739,800 116,355 10,593,996 418,211 11.0*2,207 342,237 1,834,225 484,821 3.461,753 19,&92,537 176,747 2.894,012 1,093,306 4,424.025 322,093 6,287,479 187,928 148,087 937,833 li,<j81 .*i2,448 806,H27 234,395 3,193,764 560,564 Weeks.— In the table which separately the earnings for the latest The table covers the third week of May and week. shows 10* 13 per cent increase in the aggregate over the same week last year. Latest Gross Earnings by follows we sum up A West.. VVabaah p. o. 1901. 1900. 40,519 31,034 98,916 638,000 111,566 292,416 114,261 87,544 28,053 129,043 594,000 89,825 250,399 97,797 119,596 75.662 690,031 26.058 45,201 Increase. Decrease. s Alabama Ot. Southern. Ann Arbor Buffalo Rooh. <b Flttsb'x Canadian Paoiflo Central of Georgia Ohesaoeake <fe Ohio Chicago & East. Illinois. Chic. Great Western Chio.Indiau'lis & Lonlsv Ohlca«ro Mllw. & St. Paul Ohio. Term. Transfer .. Choc. Okla & Gulf Otn. N. O. & Texas Pao.. Olev. Oin. Ohio. <fe St. L. & Eastern & Wheel'g.. Denver * R)o Grande.. Duluth So. Shore & At. Peoria Dlev. Lorain Indianapolis. fivansv. ds Evansv. & Terre Haute. Worth & Rio Grande Orand Trunk ... Grand Trunk Western > Pt. 132,04 4 81,402 715,009 29,904 71,687 99,353 344,328 47,010 45,488 205.500 50,890 95.631) 2,975 2,981 2rf week of May. 30.127 39,000 21,740 4J,017 16,464 12,448 5.740 24.978 3,846 26,486 3,723 40,675 5,131 13,053 303,653 41,879 48,034 188.000 51,129 5,967 23,976 7,543 515,674 512,643 3,031 105,246 80,760 36,251 19,949 115,413 48,223 560,620 369.702 147,270 54,665 98,203 272,789 522,000 18,000 2.648 274.419 648,737 32,600 157.126 82.065 8.884 100,400 104,532 61,420 35,02 13,520 96,317 26,471 505,695 344.091 157,471 50,762 93,627 192,655 462,000 22.000 714 19,340 1,230 6.429 19,0J6 21,75^ 54,925 25,611 5.691 26,021 • •K> 2,546 17,500 239 276 •- - • 2,043 5,610 ••• ••-- "i Det. Gd. H. Hooklne &MUw..) Vallev... .. intem'l & Qt. Northern.. .«......, Iowa Central Kanawha & Mlohlgan. Kan. City Pt. 8. & Mem. «an. 0. Mem. ABlrm.... . Louisville & Nashville .. Mexloan Central.......^ Jifexlcan National. .. .,. & St. Louis. Mliiu. Bt. P. & 8. ate. M. Ho. Kansas * Texas Mo. Paoiflo A IronMt... Minneapolis Central Branch Mob. Jackson <k K. City orfolk <St Western . BTorthern Paoiflo Ohio River Pere Marquette........... Pittsburg & Western RiO Grande Southern aio Grande Western Bt. Louis & San Fran Bt. LoD Is Southwestern Santa Fe Pres. & Phcenlx. Seaboard Air Line Southern Hallway Louis Division &; PaclHo. , Toledo & Ohio Central... Toledo Peoria A West'n St. Texas . 196,481 120,939 17.095 202.794 692.183 36,118 197,101 54,510 23,150 3,534 264,687 589,201 31.695 139,160 73,450 10,069 81,700 154.760 96,419 19,438 179,183 555,893 34,969 145,647 49,174 17,297 » * «• -••. ..' 10.201 3.903 4,576 80,134 60,000 .... . ,• • 4,000 8ti6 . 9,73i 59,536 905 17,966 8,616 ..-- 1,185 18,700 41,721 24,520 ..••••— 2,343 23.611 36.29f 1.149 61,454 5,336 5,853 ..••...• ....... May 1901. our final 60,583 statement covers in the aggregate 1900. s Increase. $ 937,175 Previously rep'd(59 r'ds) Chattanooga southern. 8,901.825 1,433 8,048 631 2,446 arand Trunk ) Grand Trunk Western > 507,162 487,043 20,119 88,000 85,100 17,230 77.700 94,200 18,829 8,300 9,598,750 8,728,849 965,594 869,901 . litit, Gr.Hav. <St Mllw. ) Interooeanio (Mex.) Mexican Railway Mexican Southern Total (66 roads)........ Ret Increase i9-97 p. o.).. Decrease. 83 981 1,013 "9,106 1,599 95.693 Net Earnings Monthly to Latest Dates.— The table following shows the gross and net earnings of Steam railroads reported this week. A full detailed statement, Including all roads from which monthly returns can be obtained, is given once a month in these columns, and the latest statement of this kind will be found in the Chbonicle of May 18, 1901. The next will appear in the issue of June 22, 1901. — Oross Earnings. — Current Tear. Previous Tear. — Net Earnings. Current Previous Tear. 9 47,494 547,037 9,172 239.798 Roads. . Tear, $ 140,089 175,536 30.915 Alai^ama Ot. So'th.a Apr. 547,526 July 1 to Apr. 30... 1,854,111 1,770,459 69,064 def.549 74,278 Alabama Midl'ud.b Apr. 8i2,587 803,848 198.689 July 1 to Apr. 30... 4.874.746 3,846,367 t2,010,216 tl,566,749 *.toh.T.<kS. Fe..b Apr. July Ito Apr. 30. ...45,019,910 38,846,193 tl8033S54 tl6459159 596,436 132,910 638,197 185,362 Atlantic Coast L.a.Apr. July 1 to Apr. 30 ... 6,448,175 6,140,405 2,424.154 2,414.752 119,459 122,916 46,843 64,431 Bangor AAroost'k.. Apr. 457,682 407,883 July 1 to Apr. 30 .. 1,204.630 1,010,342 842 3.009 3,543 451 Brldcton & Saco R.Mar. 30.465 30,912 7,889 11,211 July 1 to Mar. 31 48,848 15,090 46,997 14,270 Brunswick & West, b Apr. 227,942 578.404 185,354 562,968 July 1 to Apr. So 461.192 230,151 206.721 489.363 Bufl. R. APlttbs.b.Apr. July Ito Apr. 30... 4,778,912 3,949,514 2,046,930 1,598,422 20,437 19,492 Buffalo Gas Co. .. Apr. 207,004 223,520 Oct 1 to Apr. 30... 332,012 95,924 348,173 86,570 Surl.Ced. R.&No.a.Apr. 491,038 459,349 Jan. Ito Apr. 3o .. 1,548,645 1,471,932 2,681,312 2,491,194 1,180,809 1,027,068 aiiadtan Paoiflo. a. Apr. July 1 to Apr. 30... 25,498,178 25,433,813 9.977,659 10,348,382 408,287 67,376 448.707 72,638 Cent, of Georgia. a. Apr. 5,973,567 5,277,881 1,787,117 1,741,229 July 1 to Apr. 30 15.480 54,102 14,985 58,996 Central New Eng. . Apr. 692.135 151,646 593,034 132,115 July 1 to Apr. 30 56,178 15,076 Char.ite Savann'h.bApr. 55,809 3,407 175,203 630,119 563,141 114,099 July 1 to Apr. 3o . 5.570 8,004 def.3,438 def.2,426 Chattan'ga South. aApr. 77,516 def.25,303 deM4,960 79,041 July 1 to Apr. 30... 361,927 1,171.198 1.1C0,030 361,660 (Jhesap. & Ohio. a.. Apr. July 1 to Apr. 30. . 12,746,928 11,004,463 4,502.074 3,574.487 3,862,313 3,f 07,920 1,055,859 1,010,327 Ohio. Earl. & Qntn.bApr. July Ito Apr. 30.... 41, 617, 145 39,969.256 15,180,100 16,410,554 770.543 757.201 3,244,196 3.264,103 Oulo. M. ASt. P.a.-Apr. July Ito .\pr. 30.... 35.580,830 35,356,828 12,480,265 11,885,735 364,906 378,037 1.367,354 1,356,098 OLOtn.Ohlo.&St.L.aApr. July 1 to Apr. 30.... 14,645,0-7 13.980,909 4,199,073 4,244,391 198,133 61,986 75.590 198,199 Peoria&East'n.a Apr. 714.041 670.602 2,041,164 1,966.775 July 1 to Apr. 3o 193 18,905 6.677 18,962 Oolumb. Newb. A L.Mar. 136.866 38,944 40,771 138,886 July 1 to Slar. 3i..., 223,915 62,879 105,428 177,326 Denver & Southw.bMar. 876,350 312.737 417,641 7e6,361 Deo. 1 to Mar. 31... 30,701 117,792 165,012 13,085 Pt.W.<fcDen.Cir.v...Apr. 189,871 475,256 89.946 685,365 Jan. 1 to Apr. 30... *27,958 '21,289 127,484 137.035 Apr. Georgia. a •516,934 *615,634 July 1 to Apr. 30... 1,587,433 1,422,712 108,976 148.447 382,303 323,978 aocklng Valley. a.. Apr. July 1 to Apr. 30 .- 3,818,070 3,577.765 1,536,938 1,443,043 62,756 16,731 12,461 69,414 Sanawba <% Mlcb.a.Apr. 619.943 157,007 125,691 761,412 July 1 to Apr. 30.... 261,376 178,116 Lehigh Val. RR.a. Apr. 1,982,917 1,916,026 Deo. 1 to Ai)r. 30.... 10,858,s31 9,873.',i73 2,103,672 1,191,358 Lehigh V.Coal Co.a.Apr. l,f61.690 1.075.930 def. 72,201 df.131.416 8,915,898 7,062,462 df. 149,729 df.335 924 Dec. 1 to Apr. 3o 13,648 28,017 10.128 30.237 bexlng'n & East. b.. Apr. 111,337 245.166 94,457 290,501 July 1 to Apr. 30.... 592,648 571,127 Lunlsv. A Nashv.b.Apr. 2,370,585 2,148,371 July 1 to Apr. 30.. .24,315,085 23,304.299 8,386,548 7,847.436 6,217 def.2,320 def.1,602 7,222 Macon ABlrmlng.. Apr. 66,006 def.2,938 416 93,976 July Ito Apr. 30.... 8.907 3,755 4,130 7,978 Apr. Manlstlque 35.872 19,521 18,642 34.044 Jan. Ito Apr. 30.... 222,164 416,424 165,418 485,247 Mex. International Apr. 878,053 709,815 Jan. 1 to Apr. 30.... 1.959,983 1,780,879 213,044 82,137 70,885 257,989 Minn. A St. Louls.a.Apr. 999,479 July Ito Apr. 30.... 2,716,157 2,381,127 1,125,332 440,604 190,021 219.882 405.681 M.St. P.* 8.8. M.b. Apr. July Ito Apr. 30... 3,671,113 4,309,835 l,5b9,902 2,232,093 363,131 114,650 460,365 119,895 W. y. Out. & Weet.a.^pr. July Ito Apr. 30.... 4,326,292 4,154,346 1,256,725 1,344,599 . ... 8,780 and shows 9 97 per cent increase over the same week last year. 66 roads, ' 3d week of May, * { For the second week of Decrease. . , — . . , THE CHRONICLE. 1078 6roM$ Earnings. Current Previous . Tear. Roads. > , Kel Jlarnings. Previous Current Tear. Tear. Tear. latest 9 Company— * Reart'Kb.Apr. 758,320 674,464 Phlla 2,222,265 2,170,342 23,145,602 22.112.286 7,797,387 8.072,138 July 1 to Apr. no 15.096 def.38,787 Coal & Iron Co. b.Apr. 2,345,039 1.4.' 9,097 July 1 to Apr. 3o.. 23,474.722 23,756,091 1,680,025 1,759,639 689,5f;0 719,633 Total both Co.'s.bApr. 4,567,304 3,629,439 46,620,324 45,868,377 9,477,412 9,831.777 July 1 to Apr. 30 12.600 78,876 Beading Co. b Apr. 176,746 265,523 July 1 to Apr. 30 732.183 768,436 Total allComp's.fcApr. 9,742,935 10,007,528 July 1 to Apr. 30 .. 217,374 287,554 595,617 779,018 81. L/OnlB& San hT. b.Apr. July 1 to Apr. ao... 8.452,994 6.686,302 3,641,475 2,754,226 ni2,181 574,739 §168.096 427.867 Bt.Lonls So'weet. b Apr. July 1 to Apr. 30. 6,360,517 5,074.975 §2,764,290 §1,817,591 1,997 45,979 226.047 151,456 Ban Ant. A Aran P. b Apr. 469,448 690,963 2,296,975 1,865,213 July I to Apr. 30 78,385 96,839 863.637 426.439 Sav. Fla. & WeHt. b.Apr. July 1 to Apr. 30 4,360,002 3,725,090 1,405,396 1,056,913 17,934 9.122 29,511 Bllv.gp.OcalaA G.bApr. 18,257 135,375 92.484 230,933 181.442 July 1 to Apr. 30..., Bonthem Paolllo. b. Apr. 6.889.582 5,406,076 2.481,444 1,754.547 July 1 to Apr. 30.... 64,597,860 57,532,907 23.898,032 20,239.238 634.637 655.976 Southern Ballw'y.a Apr. 2,677,581 2,392.074 28,463,619 26,482,767 8.934,586 8,362,216 July 1 to Apr. iO 37.563 34,002 177.536 161,341 St. Louis Divls'n.aApr. 524.023 391,857 July 1 to Apr. 30 .. 1,782,640 1,616,809 64,309 28,631 206,546 193,017 Xoledo dt O. Ceni.a.Apr. 604,661 487,550 2,084,978 1.909,008 July 1 to Apr. SO Onion Pao. Sys.-.a.Apr. 3,418,737 3,062,564 1,361,514 1,283,428 July 1 to Apr. 30... 36,260.782 32.720,462 15.830,650 14,925,706 301,168 293,784 Apr. 1.354.535 1.310,884 Wabash. 1> July 1 to Apr. 30 .. 14,714,839 13,837,980 4,067,160 3,797,810 137,003 148,376 419,561 445,776 Wisconsin Central b Apr. July 1 to Apr. 30 .. 4,363,824 4,643,150 1,508,683 1,683,832 . . . b Net earnings here given are before dedaotlne taxes * For April, 1901, net after allowing for other income wae $28,904, against $22,235. From July 1 to April 30, 1901, net after allowlnj for other iacome was $606,274, against $547,074. April. 1901. taxes and rentals amounted to $166,584, t For against $157,689, alter deducting which net for Aptil. 1901, was From July 1 to April 30, 1901. Sl.843.632, against $l,409.0t)0. taxes and rentals were $1,669,394, against $1,599,708 in 1900, after deducting which the surplus was $16,364,460 this year, against $13,859,451 in 1900. § After allowing for expenditures for betterments, net in April, 1901, wae *149,872, against $88,751 In 1900, and from July 1 to April 30, 1901, $2,568,558, against $1,574,299 in 1900. Interest Cbarges and Surplus.—The following roads, in addition to their gross and net earnings given in the foregoing, also report charges for interest, &c,, with the surplus above or deficit below those charges. Int., rentals, etc.—. >-Bai. of NetSam's.. Ourrent Previous Current Tear. Tear. Tear. Previous Tear. 13,729 125,953 800,000 8,225,000 233,550 2,429,996 38,750 337,500 77,396 788,953 11,020 107,076 9 9 12,426 1,751 2,559 25,693 6.682 125,433 194,509 815.818 255,859 8,158,184 6,955,100 7,252,370 140,623 237,414 131,356 2,395,665 1,769,077 1,848,726 28,236 41,840 33,750 352,500 376,541 318,102 81.196 67.251 31,580 *872,097 708,625 M,092,287 *6,278 *3,504 9,524 *55,598 *41,385 89,973 All oonipanies Apr. 787.000 July 1 to Apr. 3o 7,870,000 36,448 Toledo & Ohio Ceu. Apr. 351,648 July 1 to Apr. 3o 136,940 WiBConsln Central. Apr. July 1 to. Apr. bO.... 1,355,018 76?,545 def.18.564 def.30,412 7,625,453 1,872,935 2,382,070 *32,574 31,763 *del.8,515 *137,112 •273.350 340,621 "18.775 "4,857 132,355 *170,961 "382,713 1,311,656 Cent. New England Apr. July 1 to Apr. 30. .. Ohio. Burl.A Qulncj Apr. July 1 to Apr. 3o Olev.Cm.Ch.&St. i-.Apr. July 1 to Apr. 3o Peoria & Eastern. Apr. July 1 to Apr. oO Apr. HooUng Valley July 1 to Apr. 3o Kanawha & Mich. Apr. July 1 to Apr. iO . Beading. . —We give below the gross and net Northern Pacific. earnings, etc., of the Northern Pacific for April and the ten months to April 30. y—July 1 to Apr. 30.^ -April. *1901. '1900 01. 19C0. 189900. $ 2,687,792 2,296,113 26,872,563 25.026.932 Gross earnings 1,529,718 1,301.367 1 3.307.849 1 1.490.528 Operating expenses 994.7^6 13,564.714 13,536,404 l,lds.074 Net earnings 251.192 2,494.044 2,714,666 Taxes.rentals.bet'm'tB.Ac. 337,594 743,564 11,070,670 10,821,738 Net operating income. 820,480 . Main system 31,981 852,461 4.896 857,357 Proprietary lines Total Latest Gross Earnings. GB088 Earninos. Week orMo American R'ys. Co.|. AprU Atlanta Ry. & Power. December. Blnghamton St. Ry.. April Br'klyn Rap.Tr. Co. March Ohioago & MU. Elec. April Oln. Newp. ACov.... April City Elec. (Rome,Ga.) April Cleveland Electric . April Oleve. Palnsv. A E... April Conaol. Trac. (Pitts.) April Dart.&W'portSt.Ry. April Denver City Tram.. . April Detroit United 3d wk May Dnlnth-8up. Tract. DuluthHt. Ry....^ April Gal veston City April Harrisburg Traction. April . Tear. April (Buffalo) Lehigh Traction April Lorain <& Clleveland.. March , Mass. Elec. Co.'B March Montreal Street Ry.. April Muscatine Newburg Ry Ry February St. St. April April April Northern Ohio Tract. April Ogdensburg St. Ry.. April Olean St. Ry April , New Castle Traction. New London St. Ry , . , , , Omaha A Coun. Blnfi Railways Co. Gen.— Roads AprU Light Co's April 36,751 458.745 562.578 780,305 11,633.248 11,280.483 25,955 226,222 264.550 80b,26U 11,859,470 11.545,033 Tear. Operations of the St. Paul & Dulnth included from July 1, 1900. STREET RAILWAYS AND TRACTION COMPANIES. 47,676 36.744 *8,366 41,866 34.418 Tear. * 932,255 843,869 27 003 16,741 35,856 104,58: 98,689 4,570 4,436 17,326 17,622 245,552 198,094 938,871 804,101 14,644 12.564 30,178 25,971 9,997 8,204 37,712 33,962 5.846 5,807 396,351 377,588 1,113,533 1,079,568 144,131 133,475 664,886 519,283 5,407 5,554 11.493 11,686 6.218 6,372 22,864 23,018 8,720 9,059 32,525 34,642 3,026 3,686 13.381 11,680 39,618 37,049 149,408 122,739 1,424 4,708 1,471 5,134 3,750 3.505 14,754 13,773 13,769 13,037 80.086 29,640 283.393 246,246 1,313,049 1,107,342 14,186 1,602 16,352 Richmond Traction.. March 18,181 61.712 6,768 42.960 37,651 Sacramento Electric GasA Ry April 31,964 30,602 127.746 115,871 aoranton Railway... April 52.496 46,394 195.490 181,083 Seattle Electric Co. January. 99.936 82 788 99.936 82,788 Southern Ohio Tract. April 23,630 22,556 85,033 76,237 ataten Island EleoMarch 36.595 35,179 Taooma Ry. & Power April 26,549 22,259 103,618 86,998 loronto Ry. 3d wk May 28,225 24,632 561.156 514,202 rwln City Rap. Tran. April 232,243 215.791 926,312 861,468 Onion (N. Bedford).. March... 18,863 17,172 54,802 51,227 Vnlon Traction Co. (Anderson. Ind)... 2 wksApr. 27,792 16,133 173,540 113,156 United P. A Transp.. April §/ne. 16 .930 i Inc. 39, 708 Un'd Rys.Co.8t. Louis April 464,454 477,713 1,767,677 1,811,444 . . 1 Onlted Traction— > AprU Albany City J Onlted Tract. (Pitts.) AprU Onlted Tract. (Prov.) AprU Watervllle & Fatri'ld Light Ry. February 107,024 103.847 159,961 153.382 197 000 175,741 & f) * 422,991 604,078 746,729 3,509 402,894 569,862 672,748 6,800 These are results for properties owned. Only 13 cars operated this year against 30 a year ago. Street Railway Net Earnings.—The following table gives and net earnings received In reporting these net earnings for the street this week. railways, we adopt the same plan as that for the steam roads that is, we print each week all the returns received that week, but once a month (on the third or the fourth Saturday), we bring together all the roads furnishing returns, and the latest statement of this kind will be found in the Chronicle of May 18, 1901, The next will appear 'n the issue of June 22, 1901. Gross Sarn%ngs, SetSlarnxngs.—s Current Previous Current Previo/ut the returns of Street railway gross — . Tear. Tear. Ulev. Painesv. A E.Apr. Jan. 1 to Apr. 3u ,. 10,184 36,202 Galveston City Ry..Apr. *8,365 9 8.966 31.693 16,741 10,964 245.552 938,871 11,395 198,094 804,101 Geneva Waterloo 8ene«a Falls & Cayuga Lake— Jan. 1 to Mar 31.... Internat'l Tr. (BuflF.) Apr. Jan. 1 to Apr. 30.... Sacramento Electric Gas Apr. A RaUway Co Feb. 1 to Apr. 30 Only 13 cars operated Tear. 8 Tear. 4,249 14,592 *1,999 9 3,163 9,818 6,083 2,456 114,328 436,929 3,672 87,160 338,778 31.954 80,502 15,659 95,641 87,110 49,427 this year against 30 last year. 17,138 47,017 and Surplus.— The following Street Interest Charges railways, in addition to their gross and net earnings given in the foregoing, also report charges for interest, &c., with the surplus or deficit above or below those charges. Int., rentals, etc. s^Bal.ofNet Eam's.-^ Previout Current Previous Current — Boads. Geneva Waterloo Sen«ca Tear. Tear. $ $ Falls & Caynga LakeThe following table shows the gross earnings for the latest 7,343 7,365 Jan. 1 to Mar. 31.... period of all street railways from which we are able to ob- Internat'lTr. (B.ifl.)Apr. 88.079 79,530 357.605 303,870 Jan. 1 to Apr. So tain weekly or monthly returns. The arrangement of the Sacramento Electric Gas table is the same as that for the steam roads that is, the Apr. 9,345 8,927 A Ra.U way Co 28,035 26,806 Feb. 1 to Apr. 30.... first two columns of figures give the gross earnings for; he * After allowing lor other inoome received. latest week or month, and the last two columns the earnings — Previout Tear. 1 . * 1 to Latest Date Current 64,08 f 224113 213.845 53.OU0 47,2 Z4 594.966 586,648 13,994 12,787 63.8o6 51,135 955,504 930,112 2.716.648 2,671,725 10,443 34.042 8,103 26,922 62.980 60,184 242,596 231,568 2.831 3,161 12.151 12,768 174.849 161 579 667,545 621,138 10,184 3 .593 8,966 36,202 238,706 234,247 920,934 868,996 7.610 7,414 28,913 23.809 116,356 99.330 435.296 879,146 Herkimer Mohawk II lon&F'kfortEl.Ry. AprU. (ntemat'l Traction— Johnstown Pass. Ry. February Jan. Our'nt Pretfus Boads. After allowing lor other Income received. Mleoellaneous income, not including land sales Ket income— year from January 1 to and including such week or month STREET BAILWAT8 AND TRACTION COMPANIES. Ry. A Bridge... February Philadelphia Comp'y April a Net earnings here given are alter dedaoting taxes. Boads. [Vol. LXXII, for the calendar Beadle K ' — )..... . Tear. Tear. $ *def. 4,791 •32,619 *117,937 6,314 21,392 $ *def.3,692 12,860 '54,374 * 8,211 20,211 : June 1, J . 1901.] ANNUAL REPORTS. American School Farnitare Co. Statement.J The following was issued in connection with the offering of the bonds mentioned last weeli: The corporation la or>;anlzed under the laws of New Jersey to inannfaotare and sell nohool furnlt«r«, church and other furniture, and opera and aspemblv ohalrfl; It, has boeu In operation elnce March 16, 1899. The authorized capl'al stock Is $10,000,000; $0,000,000 preferred and 3>5,()00,OOO common: amount Issued .$3,M77,800 preferred and $4,878, ;-tOO commou. The company Is a consollilatlon of twentyfive of the largest companies In the business. All the property is free of indebtedues.i except as shown in the statement herewith. The properties owned manufacture 90 per cent of hIi of the school desks, opera chairs and church pews In the United States. BALANCB SHEET OF MARCH 1, 1901. Liu hllities — $ Asseli— $ ('Official Real estate, plants, etc. 9,819,55.5 Raw materials, etc Cash BlUs & aocts. receiv'blo 1,00'2,.=>21 «5,326 577,518 Capital stock (pref.) •' (com.) 3,977,S00 4,878,300 Bond l,500.or;0 Issue... Bills <fe accts. payable. Statistics.- Earnings, expenses, charges, etc., have been as foUowb: EARNINGS, EXPKN8E.S, ETC. 1900-01. 1899-00. 1893 9. 1897-8. Receipts— Gross rec'ts from 8. 8. .$2,868,969 1^3,609.840 .$3,959,013 $3,668,477 15,707 1:^,878 12,282 .'i.'i.gi? Mails 150,673 133,147 158,555 131,152 Mlscel. collections 29,764 44,825 32,8i7 47,375 loans, etc Int. on 161,300 Exchange Total .. Expenses— Steamer expenfes At^ency expenses General expenses $3,071,166 $3,817,620 $4,140,713 $4,064,221 $1,878,441 $1,958,466 527,4e:i 534,684 152,269 131,430 $2,065,372 $2,416,221 460,557 73.^,790 80,134 90,919 50,747 MlHcellanfous 13.471 6'?,93t 349,380 319,380 Exchange Gen'l and ext'y repairs 8. 150,000 $2,903,345 $2,987,431 $167,821 $"':i0,189 $1.116,33>^; $620,543 (3)600,000 (2»s)500,OOO (2)i00,000 Total Loss 8 345,168 $.^,024,377 $3.443,e.77 Balance Dividends $167,621 $230,189 $616,336 291,012 $220,543 $167,821 ij'230,189 .$318,324 $220,543 etarbuck. Surplus 8l'4,4ii7 —V. 71. p. 1313. 11,464,920 Total 11,464,920 — ]0'^ 274,^23 Surplus Total — —— J THE CHRONICLE. Net earnings from date of orxanizatlon, Mar. 16,18&9,toDec. 31, 1900 alter paying all expeiises. including interefet on the bonds, were sufflol ent to pay 7 p. c. dividend for the above period on the preferred stock Issued, and leave a surplus of $347,2C4. The volume of but-lness for the year 1900 was over 25 per cent gieater than the year previous. A sinking fund at the rate of $60,000 per nnnum is provided for after April 1, 1904, and is Included in the mortgafjo for the purchase of bonds in the open market, or for their redemption at 107*2 and accrued Interest. The bURlness will continue to be manat'od by the heretofore owners of the acquired properties, who have retained the entire preferred and common stock issued as above stated. The goods manu factured are covered by Letters Paient issued by the United States Government. The bonds have been underwritten by a syndicate. V. 72, — p. 1036. Americau Thread Company. (Report for the year enditig March 31, 1901 The report for the year ending March 31 shows: Gross profits for the year Balance from last year GENERAL INVESTMENT NEWS. BAILK0AU». 1NCLUDIN<:1 8TKEET KOaVS. Atlantic City Ry. Uon8olidation,—-Th(^ directors of the the Sea Coast Atlantic City Ky., the Camden County RR. and the Ooean City RR., all owned or controlled by the Reading Company, on May 24 agree! to the merger and coneolidanon of the four roads into one company, to be known, The stockit is Htated. as the Atlantic City Riilroad Co. holders of all of the companies named will vote on tae ratification of the merger on June 12, with the exception of those of the O.ean City RR., who will vote on .Jun«s 13, wh'-n the Tbe terms of the merger consolidation is to be effective RR have not been made public. $1,232,299 160,251 own , The Reading Company will the greater part of tbe stock of the consolidated com- pany.— V. 72, p. 437. & Ohio RR. New President Representing PennRR. — On Wednesday the resignation of Judge President was accepted by tbe board of directors Baltimore $1,392,550 Total available for distribution Deduct— Bond interest Dividends on preferred shares (5 percent) Additions to depreciation account Dividends on common stock (10 p. c. on amount paid In)... $259,112 244.524 aiO.OOO 420,000 Carried forward to next account $168,914 report for the year ending March 31, 1900, in V. 70, p. 1047, naade up on different basis, showed a total profit of ^1,634,810, from which were deducted general management expenses $184,452. The BALANCB SHEET MARCH Plant, Mch. 31, 1901.. $12,354,766 4,003,479 Stocks in trade at cost Debtors-net Cash Investments 6i8,4io 340801 63,776 31, 1901. Liabilities— Pref shares (fully pd.) $4,890,475 Common stock a4,200,<.'00 Sterling bonds 5,798 000 Kerr Thread bonds... Sundry creditors, Incl. bond ini'st accrued. English Sew'g Cotton 6522,438 Co., Limited Depreciation fund Dividend on common stock due July 1 P63,551 6 75,000 Profit and loss acc't. 373,255 210.000 ItS.y 14 Total .$17,401,631 Total $17,401,631 a The 1.200.000 shares of $5 each are 70% paid, viz.: in all, $ J, 200 000. b Payable July 1, 1802. The $522,438 includes the premium. The balar.ce sheet of March 81, 1900, made upon a different basis, was given in V. 70, p. 1047.— V. 70, p. lo47, 1U51. Paciflc Mail Steamship Company. fPreliminary statement for the year ending April 30, 1901. President Charles H. Tweed says in substance ''Compared with the operations of the preceding year, receipts from steamers chartered decreased $666,150, and Irom the ordinary operations of steamers and from other sources $80,304, a total decrease of $764,454. decreased $662,368 [to $167,821]. Rectipts over expenses The sum of $'^45,168 as customary, been charged to the year's expenses for 'general and extraordinary repairs of steamers.' After charging against this account the expenses payable therefrom, there remained $565,579 to the credit of this "fund at the close of the year. The insurance on the company's steamers was renewed, and the premium chargeable against this year's operations, amounting to $76,256, was charged to the year's expenses. " For account of the two new steamships referred to in the last annual report, the company paid during the year $1,328,000, representing all payments which have become due under the contract, and making total payments to date, on account of these steamers $2,324,000. These payments, with the ex ception of sums aggregating $250,000, of which $50,000 has been paid off gince the close ot the year, have been provided from the earnings and assets of the company. There remain to be paid on said steamers, prior to and upon their complehas, tion, sums aggregating $1,303,200. "With the exception of the above indebtedness of $250,000, now reduced to $200,000, borrowed to make payment on the ereamers, the company is free from floating debt other than current expenses. The cash on hand in New York, San FranCisco and. London, April 30, 1901, amounted to $35,452." (ylvania Cowen as L. F. Loree, Fourth Vice-President of the Pennsylvania lines west of Pittsburg, was elected his succesJudge Cowen becomes General Counsel of the Baltisor. more & Ohio; he was also elected a director in place of VicePresident Samuel Rea, of the Pennsylvania, who resigned. Judge Cowen, it is said, will further be made Special CounThe latter company is undersel of the Pennsylvania RR. stood to have increased its stock holdings in the Baltimore & Oijio very largely since the firtt of the year, partly by the acquisition of Mr. Hill's interest. On Jan. 1 the Pennsylvania itself owned $16,000,000 and the Northern Central $1,000,000 of the entire fatock issue of about $104,000,000 outstanding. Mr. Loree will enter upon his duties on June 1, and it is understood that he will appoint Qeorge L. Potter, now General Manager of the Pennsylvania lines west of Pittsburg, to the ?ame position in the Baltimore Ohio. V. 72, p. 935, 721. Kali imore & Potomac RK.— Proposed ConnoUdation. See Philadelphia Wilmington & Baltimore RR. below. and & — — Canadian Northern Ry. Transfer of Northern Pacific Lines.— A. press despatch states that the Northern Pacific Co. on May 30 transferred its Manitoba lines to Messrs. Macken- & Mann, the contractors who are building the road. V. 72, p. 1034, 5S0. Chagrin Falls & Eastern Electric Ry.— SoZd.—See Cleveland & Eastern Ry. below. Following the change of control, all of the directors on Monday of this week resigned, and the following were elected in their place: E. W. Moore, m. Clark Ford, H.B. McGraw, R. L. Palmer, W. N. Gates, W. H. Lamprecht and E G. Tlllotson. Mr. Moore was elected President, Mr. Ford Vice-President, Mr. Til'otson Secretary and Treasurer and Mr. Palmer General Minager.— V. 72, p. 820, zie Chicago & Eantern Illinois company has declared RR.— Extra Dividend.— The addition to the regular semi-annual dividend of 2 per cent on the common stock an extra dividend of 1 per cent, both dividends being payable July 1, along with the regular quarterly dividend on the preferred. In the calendar year 1899 the common shares received dividends aggregating 3J^ per cent and in 1900 4)^ percent. Last January 2 per cent regular and J^ extra was paid. The present dividend makes 5^2 per cent for 1901. During the ten months ended April 3'J the gross earnings were $378,000 more than in the preceding year and the net increased $19,000, V. 72, p. 820, 338. Chicago Union Traction Co.—Bond Call Rescinded.— The call by the West Chicago Street RR. Co. of date March 27th. 1901, for the payment on June 1st, 1901, of its 6 per cent certificates of indebtedness, dated Dec. Ist, 1894, has been re-called and rescinded; &nd said certificates of indebtedness will continue as the obligation of the said West Chicago Street RR. Co. (See V. 72, p. 675.)— V. 72, p. 722. in — Choctaw Oklahoma & Golf RR.— Acquisition.— The company has acquired the Hot Springs RR., extending from Malvern to Hot Springs, Ark., for a consideration, it is stated, of $500,000. At a meeting to be held yesterday, Presi- xuou — xxija dent Francis I. Gowen wag to be elected President of the road in place of Joseph Dickson, who recently purchased the property.—V. 72, p. 935. rincinnati Portsmouth & Tirginia RR.— Sa/e Authorized. The stockholders on May 23 authorized the sale of the road to the Norfolk & Western Ry. The merger with the latter will not take effect until the end of the present fiscal year on June 30, but in the meantime the Norfolk & Western will operate the road as agent.— V. 72, p. 722, 437. Cleveland & Chagrrin Falls Electric HH.- Sold— See Cleveland & Eastern Ry. below. On Monday H A. Everett, R. L. Palmer and E. G. TilUotson were elected to the board in place of directors who resigned. Mr. Everett was elected President, W. H. Lamprecht, Vice-President and E. G, Tillotson, Secretary and Treasurer.— V. 72, p. 338. Cleveland & Eastern Ry.—Pwrcftase.— Control of the Cleveland & Chagrin Falls Electric RR. and the Chagrin Falls & Eastern El. Ry. has been acquired by a syndicate, including H. A. Everett and E. W. Moore, in the interest of the Cleveland & Eastern Ry. Mr. E. G. Tillotson, who took part in the negotiations for the purchase, is quoted as saying: The Clevelaod & Eastern Company will be reorganized and Mr. Ev<>rett and Mr. Moore will be on the directorate of the new company. Whether the name of the company will be changed I cannot say. The price paid was about $400,000. The Clevelanrt & Eastern Company win now have about ninety miles of track, and the operation of both parts of the com nined system will be commenced as soon as the por- — tion of the Chagrin Falls system near Middlefleld can be finished for rapid travel. The rails are laid, but the track Is not ballasted. The extension or the system to Garrettsville, 15 miles, will be pushed at once, and by Aug. 1 cars will be running over that extension.— V. 70, p. 995. Consolidated Traction Co. of PiiUhnrg.— Consolidation, —See Philadelphia Co. of Pittsburg below. Dallas Consolidated Electric Street Rj.— Reported Sale. reported, has been sold by G. Van —This road, it —— vjxi j>v/xi XV7JU ja. is Ginkel and associates to Pierre S. DuPont of Lorain, O., Mayor Tom Johnson of Cleveland and the Bishop CofiSnbury interests of that city for a price approximating $800,000. Mr. DuPont is President of the Lorain Street Ry.— V. 71, p. 1068. Dallas Ft. Worth & Gnlf Ry.— Reported Sale.— Thia road, consisting of a belt line terminal tracks around the city of Dallas and a right of way for a projected lioe to Ft. Worth, about 30 miles distant, has, it is reported, been sold for Southwestern Railway.— V. 67, $265,000 to the St. Louis & p. 1356. — [VOL. JLJLiLlI. Hot Springs RR.—SoM.- See Choctaw Oklahoma & Gulf RR. above.— V. 72, p. 480, Houston Electric Uailwaj.— Receiver applied for.— The International Trust Co. has applied for a receiver for the company as a preliminary to foreclosure and reorganization. — SeeV. 71, p. 437. Iowa Central Ry.— New Mortgage.— The shareholders will vote July 31 on a proposition to make a new mortgage to the Morton Trust Co., as trustee, to secure $25,000,000 of 4 per cent 50- year gold bonds, to be issued for refunding the existing $7,650,000 first mortgage bonds and for future improvements and additions. Of the new bonds, $3,000,000 are to be issued at once to retire Keithsburg Bridge bonds ($591,000) and the Iowa City Western bonds ($i55,000) and the balance for equipment.— V. 71, p. 1120. Kansas Mexico & Orient RR.— Progress.— President A. E. Stilwell is quoted as saying: " Work is progressing finely. Grading and track-laying are now being done at six places along the route, and the number of men at work is being steadily increased. The route selected by the engineers is a thoroughly practicable one, the heaviest grade being only 2 per cent, and that in climbing the Sierra Madre Mountains. hope to be the first road to open the State of Sinaloa, and shall push the work as fast as possible."- V. 71, p. 698. Lafee Street Elevated RR. of Chicago.— Directors,— John C. Fry and Charles T. Page have been elected directors to succeed William G. Adams and Harvey T. Weeks. V. 72, p. & We — 1034, 438. Miami RR. New Mortgage. — It has been arranged make the Central Trust & Safe Deposit Co. of Cincinnati trustee under the new d}4 per cent mortgage for $3,000,000. Little to These bonds are issued under the terms ot the lease of the road to the Pennsylvania RR. to refund 7 per cents and to pay for improvements made on the property by the lessee company.— V. 72, p. 241, 184. Metropolitan Street Uy.— Broadway Line Electrically Equipped. Traffic on the Broadway line from the Battery to 59th Street was suspended at 8 o'clock on May 25 pending the change from the cable to the underground trolley sj'stem. The conversion was successfully accomplished and the line re-opened to the public from 59th Street to Bowling Green early on Monday morning. May 27. This was the last of the cable lines remaining to be converted. President Vreeland estimates the cost of installing the electric system on the cable lines to have been about $10,000,000. He is also quoted — Dayton Springfield & Urbana Electric B,j.— Purchase. A. E. Appleyard, a leading stockholder in this company, has as saying: purchased for a sum said to be about |300,000 the Dayton The installing of the underground trolley In Seventh Avenue will be Lebanon & Cincinnati Ry., extending from Lebanon to our next step, and this work will be pushed at once. AVhen it is finished we will be able to relieve the pressure in the retail shopping Lebanon Junction, O. The " Ohio State Journal" says: district by running Seventh Avenue oars up Broadway or Sixth Mr. Appleyard plans to build an extension from Lebanon Janctton Avenue to Tweuty-thlrd Street, there switching them across town to to join the Dayton Springfield & Urbana line at a point near Harsh- Seventh Avenue and thence uo Columbus Avenue withouttaking them man's. This will give him an electric line from Dayton to Lebanon of through the jam at Fifty-ninth Street. We will also soon be ready to about 28 miles. He will aleo build an ex:ten8ion of the line from High- switch certain oars from lower Broadway across town at Canal Street lands into Dayton, entering the city through the pouthern part. This and so uptown along Eighth Avenue.— V. 72, p. 1034, 989. extension is to be used exclusively for freight purposes, while the other extension will be used for passenger traflio. Passengers will be carried iu electric cars during the day and freight will be carried at night, steam engines being used. confirmed item entitled " Columbus Delaware & Northern Interurban Co," in V. 72, p. 872. The Columbus Delaware & Northern Railway Co. has asked the Dayton authorities for permission to transfer its application for a franchise over streets on the North Side to the Columbus London & Springfield Co. V. 71, p. 390. See also officially — — Delaware General Electric B,j.— Details of Mortgage. The mortgage to the Knickerbocker Trust Co. for $1,000,000, recently filed, secures 5 per cent gold bonds, dated Sept. 1, and due Sept. 1, 1955, 900 of the bonds being in denomination of $1,000 each and 1,000 of $100 each.—V. 72, 1900, p. 775. — Detroit Southern Uj.— Incorporated. This company was incorporated in Michigan on May 25 to take over the properties of the Ohio Southern RR. and Detroit & Lima Northern Ry., per plan in V. 72, p. 438. The directors are as follows: F. J. Llsman of F. J. Ltsman & Co.; John E. Borne, President of the Colonial Trust Co.; Evans R. Dick of Dick Brothers & Co.; Cyrus J. Lawrence; Leopold Wallaoh, attorney; Charles Parsons. President of the Kome Watertown & Ogdensburg RR.; Don M. Dickinson, exPostmaster-Qeneral; Henry B. Joy of Detroit; Myron T. Herrlok. President of the Society for Savings. Cleveland; A. D. Vorhles, VicePresident of the Union Trust Co. of Cincinnati, and Samuel Hunt of Cincinnati. The present issues of the securities of the new company will Metropolitan West Side Elevated Railway Co. of Chicago.— Z/07idfs 0;^«?red.—utis, Wilson & Co. of Chicago having sold over $500,000 of the new issue of $1,500,000 extension mortgage 4 per cent gold bonds, are offering the remainder at 98 and interest. The bonds, which will be ready for delivery not later than July 15, are dated July 1, 1901, and due July 1, 1938, bat subject to call at 105 and interest on any interest payment date; denomination, $1,000; principal and semi-annual interest coupons (January 1 and July 1) are payable in gold in Chicago and New York City Northern Trust Co., Chicago, trustee; total amount authorized, $5,000,000: present issue, $1,500,000. The following facts are furnished; The purpose of this issue is to pay for the cost of extensions at present under construction; one from West 48th Ave. one-half (^s) mile west to West 52nd Ave.; the other 1-8 miles to West lOth Ave. The bonds are secured by a first mortgage on the extensions, right of way and franchises, including all property now owned or hereafter to be acoLUired in connection therewith. They are also secured by a mortgage onthe main line, subject to the mortgage of $10,000,000, dated Aug. 1, 1898, and maturing Aug. 1, 1938. See also statement of earnings and balance sheet in adver; tisement on page xii.— V. 72, Mexican National RR. tion "Co. p. 936, 722. —See under " Industrials," Mexican National Construcetc., companies. — V. 72, p. 720, 723, 730. Missouri Kansas & Texas Rj.— Suits Setiled.—The actions brought by the heirs of Robert S. Stevens of New York Pacific RR. to prevent the absorption of the Kansas City & mortgage 40-year 48, $4,000,000, covering the former have been discontinued, the matter having been settled, dee Ohio Southern RR.; mortgage 40-vear 4s, $3,750,000, which V. 69, p. 1346, 1193, 1148; V. 72, p. 1034, 936. will be a first lien on the former Detroit & Lima Northern Mobile Street RR. Consolidation. Henry B. Tompkins and a second lien on the Ohio Southern; $6,000,000 four per and W. H. Patteroon of Atlanta, J. Howard Wilson of cent preferred stock and $10,000,000 common stock. The Mobile and E, C. Jones & Co. of this city are reported to fixed charges of the new company will thus ba $370,000 per have arranged a consolidation of this company and the annum, while the net earnings of the Ohio Southern alone Mobile Light & Railroad Co.—V. 72, p. 989. for the year ended June 30, 1900, were $306,123.— V. 72, p. Newark & Hackeusack Traction Co.—Application for 626. Receiver.— Vice-Chancellor Emery on Friday of last week Erie RR. Application to List. The company has applied handed down a decision denying the application for a reto the New Yorfe Stock Exchange to list $548,000 additional ceiver and also the application for an injunction. V. 72, prior lien bonds of 1895 and $32,000,000 "Pennsylvania col- p. 821. lateral " 4 per cent bonds of 1951.—V. 72, p. 935, 821. New Albany (Ind.) Street Ry.—Soid.-This property was Fort Wayne Belt & Terminal Co.— Incorporation. This purchased at the foreclosure sale on May 23 by R. S. Veech, company was incorporated in Indiana on May 7 with a cap- of Louisville, for $56,100.—V. 64, p. 800. ital stock of $1,000,000 to build a belt line of steam railroads Norfolk & Western Ry.— PMrcftase— See Cincinnati Portsaround the city of Fort Wayne. mouth & Virginia RR. above.— V. 72, p. 873, 723. be: First — — — — — June THE CHRONICLE. 1, 1901.] Northern Paciflc RB.— Agreement.— Kahn, Loeb & Northern Pacific and Union Pacific interests under which the composition of the Northern Pacific board will be left in the hands of J. P. Morgan. Certain names have already been suggested, not now to be made public, which will especially be recognized as representative of the common interIt is asserted that complete and permanent harmony ests. will result under the plan adopted between all interests involved." J. P. Morgan & Co. also confirm the fact of the settlement, and state that there will be no change in the management.— V. 72, p. 1035, 936. Northwestern Elevated RR. or Chicago,— Proposed Purchase.— The directors have arranged with the directors of the Union Elevated RR. Co. for the acquisition of all the property, rights and franchises of that company, upon a Dasis giving the latter's stockholders $125 per share in cash for — Neio Mortgage. To provide for the purchase of the Union Company and other corporate purposes, the directors have authorized an if sue of $25,000,000 of first refunding mortgage 4 per convertible gold bonds to be secured by a mortgage to the The holders of Illinois Trust «fe Savings Bank as trustee. stock trust certificates will vote July 1 on the proposition to buy the Union Elevated and to issue the new bonds; the stockholders will on Aug. 1 ratify these matters and vote on increasing the capital stock to provide for the convertible feature of the bonds. Of the new loan the present issue will be $15,000,000, the proceeds in part to retire the following securities and the balance to be held in the treasury: Purchase of $5,000,000 Union Elevated RR. stock at 125 $6,250,000 Redemption of $5,000,000 Northwestera Elevated Ist M. . . 58 at 105 6,250,000 Retirement of $700,000 Northwestern Elevated 5 per cent certlUcates of Indebtedness 750,000 An official statement'furnishes the following; Upon the consummation of the proposed arrangement the stockholders of the Northwestern Elevated RK. Co. will be Klven the privilege of subscribing for the new bonds to the amount of their holdinKS of the said stock the subscription price for said bonds by said stockholders to be 90 per cent par value of said bonds. After the meeting of Aug. 1 a date will be fixed, probably about Aug. 17, as of which date the registered shareholders shall have the right to subscribe to said bonds. The new bonds will be dated Sept. 1, 1901, and will be payable ten years after date, and will be made convertible at the option of the holder thereof into the preferred capital stock of the Northwestern Elevated RR. Co., and will be redeemable, at the option of the company, at any time after Sept. 1,1^06, at 102 >« and accrued Interest. If called for redemption the holder of such bonds shall have the right even then to take preferred stock in lieu of his cash. Mr. Yerkes iJbWiwgs.— Charles T. Yerkes, before sailing recently for Europe, is understood to have sold the balance of his holdings in the stock of Chicago street railways. The •* Chicago Journal" says: His most valuable asset in this city was the Union Loop Companyin which he owned;3«,000 of the 50,000 shares. The Blalr-Mltchell, Marshall Field syndicate were the buyers, paying $1 25 a share, or $4,500,000. The control will be handed over to the Northwestern Eleviited RR., In which the same Interests dominate, and against the purchase price an issue of bonds will be made. Next to the Union Loop the Suburban RR. Co. was Mr. Yerkes' specialty. It has a capital of $1,^50,000. For this he probably received not far from par. The Chicago Union Traction people were the purchasers of Mr. Yerkea' remaining holdings of North and West Chicago Street Railroad stocks— V. 72, p. 43y. Omaha & St. Loais RR.— Sa/e.— The foreclosure sale is advertised to take place at Council Bluffs, la., on July 17. The upset price is |1,250,0C0.— V. 72, p. 989, 937. Oregon & California RR.- Bonds CaWed.— Fifty first mortgage 5 per cent bonds issued under the mortgage of 1887 have been drawn for redemption from proceeds of land sold under the provisions of the mortgage, and will be paid at the Union Trust Co. on July 1, after which date interest will cease.— V. 70, p. 76. Oregon Short Line RR. Acquisition,— The company, it understood, has acquired the Salt Lake & Mercur RR., ex tending from Fairfield tolfMercur, Utah, 14 miles, and will operate it as a part of the Utah division.—V. 72, p. 937, 723. People's Railway of TVilmlngton, Del.— Jn operation The company's system was to be formally opened for public travel on Thursday. The road, when fully completed, will furnish a belt line for Wilmington. At present it is in operation to Rockford Park, Brandy Springs Park, etc. John and James Dobson, of Philadelphia, are the principal stockis — holders. Philadelphia Co. of PiiUhnrg.— Amalgamation.— We are officially intormed that the plan tor the amalgamation of this company and the Consolidated Traction Co. provides for the organization of a new company with capitalization as follows: Collateral trust s per cent bonds Of which Issuable in partial exchange for stock of $40,000,000 Philadelphia Co 18.750,000 12,c00,0C0 Partial exohan.Ke forConsol. Traction Co Balance to be Issued or reserved for other purposes. Preferred stock s per cent cumulative Partial exchange for Philadelphia Co " " ConsolinatedlTraction Co " In exchange for $2.0CO,000 Consolidated Gas pref 15,2»0,00i) Common stock. ]0,.500,000 . . Of which in partial exchange for Phila Co "Consol. Traction Co. The basis of exchange of the old shares for the itles will be as follows: 9,2 '0.000 .?,s>.=>0.0i 9,}JOO.000 2.-l00,000 2.i»r>o,000 7,500,t00 new 1081 Co. confirm for us the following statement, which first appeared in the "New York News Bureau:" "It ia cflBcially announced that an understanding has been reached between their stock. — — . secar- ' Each $100 of Philadelphia Co. common ($14,752,000) Pref. stock ($3,998,000) Consol. Traction Co. common ($15,000 OOC) Preferred stock $(12,000,000) Consol. Gas Co. preferred ($2,000,000) Will receive Col.Trust Pref. is. stock, » Com. stock. $100 100 $20 $20 50 20 120 50 xlOO xAlso $3 per share in cash for accumulated dividends. The plan will probably be issued within a week or two. V. 72, p. 1038, 985, Philadelphia Wilmington — & Baltimore RR.— Proposed Consolidation. Plans for the consolidation of this road and the Baltimore & Potomac RR., both now controlled by the Pennsylvania RR., are, it is understood, being perfected. V. 72, p. 933, 137. Reading Co. lantic City Ry. Consolidation of Controlled Lines.- See At- above.— V. 72, p. 822, 776. St. Clair Madison & St. Lonis Belt RVi.—MrtgageAv^ thorized. The stockholders on May 25 authorized a mortgage to the St. Louis Trust Co. of St. Louis, as trustee, to secure the $800,000 4 per cent gold bonds issuable under the reorV, 72, p. 288; V. 72, p. 822. ganization plan. — Loais & San Francisco RB,.— Refunding Plan.— J. & Seligman &Co., as syndicate managers, announce by advertisement the terms of the proposed refunding of the company's existing debt into refunding mortgage .50- year gold bonds of the total authorized amount of 185,000,000, of which about $62,500,000 are to be issued and reserve<i for refunding purposes, and the balance to be reserved and issued for additions, extensions, betterments and improvements of its system of railroads and for additional equipment and property. In addition to reducing interest charges, the refunding will enable the railroad company to finance more advantageously extensions of its system by the sale of bonds having an established market value instead of divisional bonds, which the company has hitherto been compelled to sell on comparatively disadvantageous terms. The refunding bonds will be secured by mortgage to the Morton Trust Co. and William H. Thompson, as trustees, subject only to existing liens, of all the railroad company's lines of railroads, leaseholds and properties and shares of stock and bonds of auxiliary railroad corporations, whether now owned or hereafter acquired, with the proceeds of any of the refunding bonds; and also by the delivery to the trustees cf all underlying bonds in exchange for which new refunding bonds shall be issued under said mortgage, including the entire issues of divisional bonds on the line to Kansas City, embraced in the Kansas City division mortgage, and on the line to Denison, Texas, embraced in the Red River division mortgage. On completion of the refunding "the refunding bonds will be secured by absolute first lien upon 1,902 miles of railroad and the equipment; and when the A, B and C bonds (which mature in ia06) have been exchanged, the refunding bonds will have the security of the first lien of these bonds on the main stem from Pacific (thirty -four miles west from St. Louis)." The railroad company has agreed to sell to the syndicate $30,000,000 of the new refunding bonds, or such portion thereof as may be duly authorized to be issued under the refunding mortgage, and the syndicate managers have already completed arrangements for the acquisition of about $20,COO,000 of underlying bonds which are to be exchanged for new refunding bonds. At the request of the railroad company the syndicate offers to holders of underlying bonds the privilege to exchange the same for new 4 per cent refunding bonds on the following terms, or to purchase for cash, at the prices set opposite thereto, all or any of such undei Ij ing bonds which may be presented and surrendered on or be ore July 6, 1901, with all unmatured coupons attached, viz.: Or cash till For each $1,000, /cue value, of the Refund bds.. St. W. following oulsiaiiding bonds: face value. B and C 6 p. c. bonds $1,166 66 ($5.590,000) Mo. & West. Dlv. IstM, 68 ($1,019,000). 1,282 05 1,282 0=> Trust 68 of 1890 ($943,000). 1,369 23 General mortgage 68 ($7,807.000) 1,194 87 General mortgage 5s ($12,292,000) 1,179 49 Trust .=>« of lc87 ($1,099,000) St. L. Wichita & West. 1st 68 ($2,000,000) 1,179 49 Ft. Smith & Van Buren Bridge 1st 6s 1.128 20 ($275,000) Southwestern Division Ss, redeemable 1,025 64 ($1,51 0,000) Cent. Dlv. 48, redeemable ($1,962,000).. 1,051 V8 Kan. City Div.4a,red'mab1e (.$2.0«3.U00) 1,000 00 876 93 Kan. City Dlv. 3s, red'mable ($976,00* ) Northwestprnl Division 48, redeemable 1,05128 ($1,097.500) 974 35 Red Kiver Division 48 ($4,650,000) Consolidated 4 p. o. bonds ($6,383,C 00).. 1,025 64 July 6, ISOl. Second mortgage A, . $1,1S7 50 and 1,250 00 and 1,2.'50 00 and 1,335 00 and int" Int. int. Int. 1,165 00 and Int. 1,150 00 and Int 1,150 00 ana Int. 1.100 00 and int. 1,000 00 and 1,025 00 and int. int. Int. int. 975 00 and 855 00 and 1,025 00 and int 9.t0 00 and int. 1,000 00 and.lnt.. At the time of deposit holders of underlying bonds who take the refunding bonds will receive payment in cash of the unmatured interest accrued and accruing upon their deposited bonds to July 1, 1901, from which date the refunding bonds are to bear interest. To avail themselves of the privilege of exchange, holders of underlying bonds must deposit them on or before July 6th next with the Morton Trust Co. or some one of the other depositories named in the advertisement. Earnings.— For the 9 months ending March 31: Taxes and Other Bal.for 9 i7tos. to Orots Xet Mar. 31. 1900-1 1899-0 eirnings. *7,h73.5»76 earnings. iucomt. rentals. $3,3.=S.'?,921 6,090,686 2,536,853 $66,616 46,419 $2H2,054 189,342 int.ddiv. 1 5s ,483 2,393,930 $3 — : THE CHRONK 082 the balance as above were paid fixed charges amounting to $1,706,666, agains:; $1,630,697 in 1899 0, leaving §1.451,817 available for dividends in the current year, against $763,253 in the earlier year. Dividends on the 4 per cent first preferred stock call for $150,000 and on the $14,335,000 seoond preferred stock, at the present 3 per ceot yearly rate, for From $333,533, — LE. [Vol. LXXII. Dividends on stock of Union Pacific RR. Co. payable April 1, 1901, not Included in above statementPreferred stock, 2 per cent $1,999,312 Common stock, 2 ler cent 1,919,276 Total semi-annual dividends Agreement as —V. $3,908,688 to Northern Pacific. 72, p. 1035, 937. — See that company above. The refunding plan says: "The total net income available Washington & Annapolis Electric Ry.-O^ce?*.— This for fixed charges aud dividends for the year ending June 30, company, which is preparing to build an electric railway 1091, it is estimated will not be less than $4,000,000, against connecting the cities of Baltimore, Washington and Annapestimated fixed chijrges of $2,275,000, The railroad company olis, has elected the following officers; has ju8t taken over the newly-constructed main line of rail W. H. Lampreoht. President; Otto Miller, Secretary and Treasurer; road extending south from Sapulpa, Indian Territory, at the and Jas. Christy, Vice-President,. Directors— W. H. Lamprecht, Otto Miller, Frank N. Wilcox. F. T. Pomeroy and E. W. Moore, of CleveJunction of the Southwestern and Central divisions, and will land; James Christy Jr. of Akron, O.. and Wm. L Marbury of Baltihave trackage rights to Sherman, Tex,, from Denison, Tex., more. where important traffic and trackage connections have been Surveyors are locating the route. The offices are to be and are being made, aud Id is believed that the earnings from in the Bond Building, Fourteenth St. and New York Ave., the new line will result in largely increasiug the gross and Washington. Mr. Christy, it is stated, will reside in Washnet earnings of the system. Upon the ultimate completion of ington during the progress of the work. the refunding the saving to the railroad company thereby Western Maryland RR.—0^er«.— Mayor T. G. Haynes of will be about $70,000 per annum in fixed charges." Baltimore on May 27 stated that two offers had been made Mergir.— It is reported the Kansas City Fort Scott & Memphis now controlled by St. Louis & San Francisco interests for the purchase of the city's interest in the pioperty, each will on July 1 be merged with that company. The Fort contemplating the payment to the city of tbe entire debt due Worth & Rio Grande will also be absorbed.— V. '=2, p, 989, 723. to the latter, amounting on Jan. 1, 1901, to $3,527,973.— V. 73, p. 676, 479. Salt Lake & Mercur BR.— SoW.— See Oregon Short Line ER. above. INDUSTRIAL. «A8 AND MISCELLANEOUS. Sea Coast UR.— Consolidation.— Ssie Atlantic City Ry. above.— V. 73, p. 439. Alabama Eaolin Vo.—F'^reclosure—Depoiits Tne InterSontliern Indiana Ry.—Neio Mortgage.— Th.\s company national Tiust Co. of Boston, Mass., as trustee of the first has made a new first mortgage to the Equitable Trust Co. of mortgage, has been requested by certain of the bondholders Chicago, as trustee, to secure $5,000,000 tifty-year 4 p. c. gold to take steps toward:! the foreclosure of the mortgage. All bonds of Sl.OOO each, dated Feb. 1, 1901, with interest paya bondholders are requested to communicate with the trustee ble in New York City, with a provision also for further bonds for further information. at $20,000 per mile for single track and |10,000 per mile for Algoma Steel Co., Limited.— Description of Plant, Etc. secona track, main line or bratches hereafter constructed or A special correspondent of the "New York Evening Post" acquired in addition to the present line extending from Terre gives the following regarding the plans and properties of this Haute to Westport, Ind., 150 miles. Thf> mortgage provides company and the Cocsolidatad Like Superior Co., the parent for the certification and delivery of the $5,000,000 bonds re- company ferred to by the trustee as follows: There are to be six 400-ton furnaces, a Bessemer plant and also — — $3,160,000 forthwith upon receiptor the bonds, of which $1,500,000 shall be used for the purchaee, exchange or retirement of the $1,500,000 five per cent bonds of 1898 " upon euch terms, methods and conditions as may be agreed upon with the holders of such outstanding bonds" and the balance lo pay the floating debt, complete improvements to the line now in progress and provide for estimated new construction expenditures in j901. The remaining $1,840,000 of the $5,000,000 may he issued from time to time as reauired, viz $340,000 $l,000,vOO for to pay the equipment notes outstanding May 1, 1901 additional equipments and $501^ ,000 for the general uses of the company at the rate of not over $125,000 yearly.— V. 71, p. 751. . ; Union Elevated RR. of Chicago.— Dej;osit« of Stock.— More than two-thirds of the capital stocK having accepted a proposition to sell the property and franchises to the Northwestern Elevated RR. for a sum to give the shareholders $125 per share for their stock, all "certificates of stock, duly assigned, in blank, stamped for transfer, together with executed proxv, should be immediately deposited with Blair Co., 33 Wall Street, New York City, or the Illinois Trust Savings Bank, city of Chicago." Payment for the property is to be made on or before Sept. 5, 1901. The stiareholders, it is stated, will meet Aug. 1 to ratify the action of the directors.— V. 72, p. 439, 88. & & Union Bonds to he Listed June 10— Abstract of Mortgage. The Governing Committee of the New York Stock Exchange at a special meeting on Tuesday approved the recommendation of the Committee on Stock List Pacific UR.—Oonvertible — that the $100,000,000 first lien convertible 4 per cent gold coupon bonds of 1911 be admitted to the list on June 10, 1901. The entire loan has been subscribed by the shareholders and the proceeds have betn, or "will be, used by the company for lawful corporate purposes, as contemplated in the mortgage," namely, it is understood, the payment for the block of the Northern Pacific stock, as well as the $75,000,000 of Southern Pacific, acquired in the interest of the Union Pacific. blooming and rolling mills equipped for turning out abstract of the deed of trust securing the issue will be found on pages 1084 to 1087, giving full and valuable particu lars as to the property mortgaged and pledged, the substitution of collateral, the right to redeem the bonds, the option to convert them into stock, and much other information of importance. There is no intention to add to the property conveyed to the trustee under the mortgage, the security being already thought ample. Earnings. The consolidated income account of the Union Pacific RR. Co., Oregon Short Line RR. Co. and Oregon RR. Navigation Co. for the eight months ending Feb. 28, 1901, is officially published as follows Gross earnings $29,508,759 Operating expenses and taxes 16,415,455 — & : Surplus earnings fi om investments— $13,093,304 Income Bond.s $294,183 440,170 Stocks MlBoellaneous Income Total income $14,041,404 Deduct— Interest on bonds Miscellaneous charges Dividends on Oregon KB. 734,353 213,747 $4,501,984 & 181,627— 4,683,612 Navigation Co. pref stock.... Balance, surplus Balance of income account June 30, 1900, surplus Balance, surplus, Feb. 28, 1901 220,000 $9,137,792 12,166,790 $21,804,582 OOO tons a day Mr. Clergue has obtained without competition a contract with the Minister of Railways under wnich, for five years to come the Sault Bte. Marie plant Is to furnish 25,000 tons of steel rails a year for the re-tracking of the Intercolonial Railway. The deliveries in 1901 are to be at $32 50 a ton. In the four following years the price is to be fixed by the then prevailing rate in England.— V. 72, p. 1036. — Amalgamated Copper Co. Exchange of Stock. Kidder, Peabody & Co. announce that they have offered to sell to the company, subject to the approval of the owners, the stocks of the Butte & Boston and Boston & Montana Copper companies on the basis of one share ($100) of Amalgamated for one share ($10) of Butte and four shares (.flOO) of Amalgamated for one share ($25) of Boston & Montana. The largest stockholders of both companies have consented to the sale on these terms. An I, of steel rails and structural material. The new enterprise centers about the Helen ore mine, on Miohlpicoton Bay. This is the lirst great find of high-grade ore on the dnadian shores of Lake Superior. The Helen mine is 12 miles inland from Mlchiplooton Bay. The ore-shipping pier is at Gus Cap, about fifteen hours' eteamin.; from Sault 8te. Marie. The ore has to be passed through a crusher, but it grades as high as 64 per cent ot metallic iron. The ore body rises to a point from the east end of Boyer Lake and forms a hill 94 feet above its level. The superfloial area of the ore body is 650 feet by 850 feet, and drilling has shown that the ore goes down to a distance of at least 188 feet beiow the lake level. The Sault 8te. Marie plant, as Is now the case at the furnaces in blast at Hamilton aud Midland, will have to obtain Its coke from Pennsylvania. Until 1907. however, the higher rate of bounty given by the Dominion Government on pig-iron made from Canadian oros will more than offset this disadvantage, and do much to equalize conditions as between Ontario and Nova Scotia. At the furnaces In Nova Scotia Newfoundland ore is used. This is classed in the Dominion Bounty Acts of 1897 and 1899 as foreign; and in 1901 and 1902 pig-metal made from it will receive only $2 a ton in bounties as compared with $3 which will be paid on the output of the Ontario plants at Sault (See V. 71. p. 1 12 i as to bounties payable Bte. Marie and at Midland. to Dominion Iron & Steel Co. for a series of years.) In addition to this bounty the Ontario Government, since 1897, has been paying a bounty of $1 a ton on pig metal from ores mined in this province. The stockholders of the Amalgamated Co. will 6 to consider the offer, and if accepted author(See V. 72, p. 1036). Deize the issue of the necessary stock. positors consenting to the exchange on the basis stated mast notify Kidder, Peabody Co. to that effect by signing and meet on June & returning on or before Junei6 a blank which has been sent to them, and also present the firm's receipts for endorsement. The depositor who does not consent will, upon request, receive his stock back, unless notice is given on or before June 6 that he desires to accept the price of $92 50 per share for Butte and $375 for Montana, in cash, in which case this price will be paid, provided an exchange of stock with the Amalgamated Copper Co. is effected in accordance with the offer to that company. All dividends declared by either the Butte & Boston and Boston & Montana companies before the actual delivery of the Amalgamated stock will go to present holders. V. 72, p. 1036, 990. Boston & Montana Consolidated Copper & Silrer Mining i'o.— Exchange of Stock.— See Amalgamated Copper Co. above.—V. 72, p. 777. — Batte & Boston Consolidated Mining Co.— Exchange.— See Amalgamated Copper Co, above. V, 72, p. 777. Chicago Pacliing & Provision Co. —Decision. —At Chicago on May 35 Judge Neely sustained the demurrer entered by Levy Mayer on behalf of the company and against the holders of common stock who sought to prevent the proposed distribution of assets to the preferred stockholders first and — — June 1, THE CHRONICLK 1901.] then to the common stockholders. An appeal, it is stated, will be taken.— V. 72, p. 724. Cicero Gas Co.— Sae People's ^Gas Light AJjCoke Co. of Chicago. CincinaatI Gas & Electric Co.— Distribution of Stock.— The following notice is given : In oomplianoe with InBtraoiions of the board of dlreotors, cfrtrflflcates of stock of the company ag^rcKatlng the sum of ig9,764,000 will be Issued to the stookholdPiH of the Cincinnati Gas Light & Coke Co, In proportion to their rcBpeotlve holdings, per stock register at 5 p. m. May 2S, 1901, at which date the transfer books will be closed, to be opened again June 1, 1901; and that from such date no further stock oertlflcates of the Cincinnati Gas Llnht & Coke Oo. will be IsBued, and "all outstanding oertlflcates of stock of said company will be regarded as equal to, and representing but an equal number of shares of, the Cincinnati Gas & Electric Co." The capital stock of the", Cincinnati Gas Light & Coke Co. was increased in December last to $9,500,000. The distriba tion above noted gave therefore to the holder of each |10,0(J0 the right to 110,003 779 of the new stock; in addition each $10,000 of old stock will Ve exchanged for $10,000 of the new stock whenever the new certificates are ready. V. 72, p. 938. 1083 presentation and surrender of the receipts (assigned in blank) for the deposited stock.— V. 72, p. 875, 778. Distilling Co. of America.—i2ei«rn vf Stock.— The preferred and common shares of the company deposited with the Protective Committee under the agreement of June 9, 1900, are now being returned free of charge to the holders of certificates of deposit upon the surrender of the latter to the Mercantile Trust Co.— V, 72, p. 285, 188. Dominion Dry Dock & Marine Construclion Co.— .S'toefe O^' red.— John D. Edwards of Toronto is one of those receiving subscriptions at par for the $2,000,000 capital stock (Hhares $100 each) of this projected steel shipbuilding enterprise, with proposed plant at Dartmouth, Halifax Harbor, Nova Scotia. The company's fixed charge will be 5 per cent interest and 5 per cent sinking fund upon $100,000 bonds, being $40,000. The officers are to be: President, A. P. William.s, Esq., General Manager of the Portland Steamship Line; Secretary, J. Whitney Beals Jr.; Treasurer, Nath'l Evans Jr.; General Office, 21 Doane H*., Boston; Organizing Pro- Box tiS, Koxbury, Mass. Edison Storage ^aXtdXY. — Incorporated. This company Cincinnati Gas Light & Coke Co.—See Cincinnati Gas & was incorporated in New Jersey on May 27, with $1,000, COO Electric Co.— V. 72, p. 933, 724. capital stock, to manufacture light-weight storage batteries Citizens' Gas Oo. of Bridgeport.— Foreci sure Sale.— under patents of Tho:^. A. Edison. The incorporators are The property of the company is advertised to be sold on Herman E. Dick, Chicago; Walter S. Mallory and Wm. E, June 10 under the mortgaer« of which the Knickerbocker Gilmore, Orange, N. J. See V. 72, p. 1037. Trust Co. is trustee. The Bridgeport Gas Light Co. in JanuEmpire City Subway Co.— Increase of Stock.— The authary ]a°t applied for authority to increape its stock in order to orized capita' st'ck has been increased from $1,750,000 to provide, it was thought, for absorbiag the Citizens' company. $2,250,000 —V, 72, p. 938. See V. 72, p. 185; V. 69, p. 1149. Essex Electric Co. of Nen ark.— Adverse Opinion.— CorCitizens' Ligbt Co. of liOniSTilie.- ConsoZidafion.— This poration Cout cil Price has submitted an opinion that under company was incorporated at Louisville on May 29 to con- the existing contract between the city and the United Elecsolidate the Peoples' Electric Light Co, and the Citizens' tric Co., the Board of Public Works has no right to grant the General Electric Co. The capital stock is $1,000,000. The new company the right to construct subways, etc., unless the stockholders include: company shall duplicate the plant of the Unitel Company Charles A.. Collins, Brooklyn, 1,364 shares; Charles J. Parrel. Mount and shall accept all the terms and conditions of that comVernon, N. Y., 7,019 shares; Thomas E. Murray, WllilamJF. Sheehan, pany's contract. The new compiny agreed to supply the city A. N. Brady and John E. Borne, all of New York. 7 shares each; Charles K.Huntley. Buffalo, 7 shares; L. B. Orant, Brooklyn. 92 with electricity at much less than the old rates. shares; John N. Wells, Brooklyn, 92 shares; Charles H. Werner, New Hackeusack Meadows Co.— Incorporation, This company York, 80 shares, and Joseph B. Mayer, of Buffalo. was incorporated on May 25, with $3,000,000 capital stock, in The Citizfns' General Electric Co. was incorporated in $100 shares, and will acquire title to about 4,000 acres of the 1890 and at last accounts had outstanding $532,100 common "Hackeneack meadows," purchased last week for about and $67,901) preferred stock, and about $316,000 of 6 per cent $3,000,000 through Henry L. Sprague, of the law firm of bonds due in 1932, but subject to call at 104 and interest. Stetson, Jennings & Russell. The incorporators are Henry L, The PeopU s' Co. was only recently incorporated. Sprague, John I. Simmons and Charles H. Johnson. Colorado Fuel & Iron Co.— Increase of Stock.— The Hadson River Telephone Co. Reported Acquisition. stockholders will vote on Julv 13 on a proposition to increase The purchase of the Northern New York Telephone Co., it is the common stcck from i23,00(),000 to $38,000,000, to provide stated, was completed earlv in May, the consideration being — moter, E. Grlflith, P. O. — — — for the conversion of the $15,000,000 convertible debentures recently authorized, of which $10,000,000 were offered to subscribers at par. The latter, it is stated, have been over- $100,000.—V, 72, p. 311, 186, Jones & Loaghlias, Limited, of VitUhnrg.— Rod Mill.— The company's rod mill has been completed and is turning subscribed.— V. 72, p. 990. out about 300 tons of rods per day. V. 72, p, 823, Columbus (Ga.) Power Co.— P^iver Offered.— The company Keystone Watch Case Co. Allied Company.— See United on May 2i announced its readiness to furnish 1,500 horse States Watch Co. below.— V. 70, p. 282. power as soon as sufficient power has been rented to jasiify Lonell(Mass.) Gas Light Co. Reduction in Price of Gas. the cost of transmission. The capacity of the plant when The directors on May 20 voted to reduce the price of gas all of the five machines are running will, it is estimated, be from $1 to 90 cents per 1,000 cubic feet, the reduction to take about 8,000 horse power.— V. 72, p. 677. effect on October 1 next.— V. 72, p. 482, 186. Consolidated Gas Co. of FitUhur^.—AmalgamatiGn.Maryland Brewing Co.— Depo-si^s.— About $7,200,0.0 of See Philadelphia Co. under "Railroads."— V. 72, p. 934, 872, the $7,500,000 bonds, it is announced, have assented to the Continental Asphalt Paving Co.— Warner-Quintan Complan. Now that the assessment on the stock has been repany. This company has filed articles of incorporation at duced, it is believed that the stockholders will CO operate in Albany, the authorized capital stock being $100,000. The making the plan a success. An advertisement announcing incorporators are Maurice Featherson (Tammany Senator the change in the plan noted last week (see V. 72, p, 1037, from the Eij;hteenth District), Charles M. Warner and Pat376) says: rick R. Quinlan of Syracuse. Mr, Featherson is President of The modification will leave in the treasury of the company, to be the New York Sand & Paving Co. and Messrs. Warner and Incorporated under the title of the Gottlleb-Bauernsclimldt Straus Quinlan are parties to the dispute for control of the Venezu- Brt^wlne Co.. $408,750 of the second mortgage sold mcome bondB. It — — — — , elan asphalt concession. See V. 72, p. 286, 244, 143; V, 71, p. 1272, has Ijeen provided that, while the inoome bonds are non-oumalatlve, the net Inoome over the Interest f n the first mortgage bonds and the annual provision of $25,000 for the sinking fund shall be paid to the Income bondholders, although It may not reach the rate of 5 per cent. Foreclosure proceedings have already been commenced and the situation is merely a matter of detail. Therefore such bonds as may be outstanding and the preferred and common stock will, upon payment of the respt-otlve assessments, be received by the depositary (Mercantile Trust & Deposit Co. of Baltimore), until June, 1901, after which time the holders will no longer be entitled to have them received. To enable the deposit of such securities as are held In Europe the limit of time as to them will be extended for an additional ten days. Contra Costa Water Co.— Decinon.—Judge E, C, Hart of Sacramento, in the Superior Court, on May 18, held that the City Council of Oakland, in fixing the rate to be charged by the company, must value its plant at $7,000,000, and that the water company is entitled to a net income of 7 per cent on that amount as an investment. The water rate ordinance adopted by the last council and opposed by the company is declared to be illegal. If the decision is accepted by the city Foreclosure Decree.— AX Baltimore on May 30 Judge Dennia or affirmed by the Supreme Court on appeal, the company, it of the Circuit Court signed a decree for the sale of the is said, will be allowed to collect a rate largely in excess of property.— V. 72, p. 1037, 876, that now in force.— V. 70, p. 1293. Massillon Coal Mining Co.— Incorporated.-Thiscompany Corning (N. ¥.) Ga8& Electric Co.— Jncorpsra^erf.—This has been incorporated in Ohio with $1,000,000 capital stock, to company has been incorporated at Albany with $375,000 of take over "a large majority of the mines in the Massillon authorized capital stock, to furnish gas and electricity for the district.'" on which options are held by J. J. Phillips of cities of Corning and Homellsville, and the villages of AddiCleveland. All the incorporators except one are members or son, Avoca, Bath, Hammondsport, Canistto, etc, in Steuben employes of the firm of M. A. Hanna & Co. County, Directors; Ashley T. Cole, of New York City, and Mexican National Construction Co.— i?educ(Jon of Stock. L. B. Grant and H. L. Merry, of Brooklyn. —The shareholders will vote June 25 upon a proposition to Cnmberland Telephone (Bell) & Telegraph Co.— /A.crea«e reduce the capital stock from $8,000,000 to $800,000. A of Slock. We learned this week that stockholders will be circular states that it is intended to distribute as soon as — offered the right to eubscribe to new stock to the extent of 20 percent of their holdings, and that official notice thereof will be given to-day. The amount outstanding on Jan. 1 last was $6,017,700.— V. 72, p, 625, practicable to the stockholders the $1,200 000 in cash received from Speyer & Co. for the Mexican National securities recently purchased from the Construction Company, See Mexican National RR, item in V. 72, p. 581. Diamond State Steel Co.— New Certificates to be Ready Minnesota Thresher Co.— i>o/J. At the foreclosure sale at June 17. The certificates for the preferred and common Stillwater, Minn., on May 25. the property wasipurchased for stock of the Diamond State Steel Co, will be deliverable to per- $125,000 by R. H. Bronson, Vice-President of the First Nasons entitled thereto at the office of the Girard Trust Co. Broad tional Bank of Stillwater.— V. 71, p. 1272. and Chestnut Streets, Philadelphia, on and after June 17 on S'*For other luTestment News see Pages 10S7 and 1088. — — , : THE CHRONICLE. 1084 je)3f0rt$ [Vol. LXXU. nn& ^ocnmtnts. UNION PACIFIC RAILROAD COMPANY. ABSTRACT OF FIRST LIEN MORTGAGE AND DEED OF TRUST, DATED APRIL 15, 1901, SECURING $100,000,000 OF FIRST LIEN CONVERTIBLE FOUR PER CENT GOLD BONDS, DUE MAY 1, 1911. PARTIES. Union Pacific Railroad Company Utah (hereinafter of called the " Railroad Company "), party of the first part, and The Mebcantile Trust Company of New York (hereinafter called the " Trustee ") as Trustee, party of the second part. preamble—PURPOSE OF ISSUE. Whereas, the Railroad Company has duly resolved that for the purpose of meeting the present and future financial requirements of the Railroad Company, and for such lawful corporate purposes as may be determined by tlie Board of Directors or Executive Committee of the Rail road Company, the Railroad Company will create an issue of " First lien convertible4per cent gold bonds," to be dated as of May 1, 1901; the total issue to be limited to the aggregate principal sum of $100,000,000; and Whereas, the bonds shall be coupon bonds of the denomination of $1,000 and registered bonds (without coupons) of the denomination of $1,000, or such multiples thereof as the Railroad Company from time to time, by resolution of its Board of Directors or Executive Committee, may authorize; every such coupon bond to be substantially of the following tenor: $1,000 UNITED STATES OF AMERICA. union' pacific railroad company. First Lien Convertible 4% Gold Bond. Due 1911. Union Pacific Railroad Company (hereinafter called the " Railroad Company"), lor value received, hereby promises to pay to the bearer or, if registered, to the registered holder hereof, at lt« office or ageney in the City of New York, One thousand dollars In gold coin of the United States of America, of or equal to the present standard of weixht and fineness, on the first day of May, 1911, (unless before that time this bond shall have been converted or redeemed) and to pay Interest thereon from May 1, 1901, until the payment, conversion or redemption of this bond at the rate of four per cent per annum, such Interest being payable at said office or agency semi-annually in like gold coin on the first days of May and November In each year, upon presentation and surrender of the annexed interest coupons as they shall respectively mature. Both the principal and Interest of this bond are payable without deduction for any tax or taxes which the Railroad Company may be required to pay thereon or to retain therefrom under or by reason of any present or future law of the United States of America, or of any State, county or municipality therein. This bond is one of a series of coupon bonds and registered bonds of the RMJlroad Company known as its "First Lien Convertible Four Per Cent Gold Bonds," Issued ana to be Issued to an amount not exceeding in the aggregate the principal sum of One Hundred Million Dollars ($100.0ijO,OIjO) at any one time outstanding, all of which bonds are Issued under and equally secured by a mortgage and deed of trust, dated April 15, 1901, executed by the Railroad Company to The Mercantile Trust Company, as Trustee, to which mortgage and deed of trust reference is hereby made for a description of the property mortgaged or pledged, the nature and extent of the security, the rights of the holders of bonds under the same, and the terms and conditions upon "Which said bonds are Issued and secured. This bond is convertible, at the option of the holder hereof, on or at any time prior to May , 1906, as provided in said morcga^e and deed of trust, into ten shares of the common capital stock of the Railroad Company, with an adjustment of current or accrued interest and dividends as between this bond and the stock Into which the same may be i converted. This bond is subject to redemption at the option of the Railroad at a premium of two and one-half per cent upon any semiinterest day after May 1, 1906, upon published notice as proannual vided in said mortgage and deed of trust. This bond shall pass by delivery unless registered in the name of the owner on the books of the Railroad Company, at its office or agency In the city of New York, such registration being noted on the bond by the Railroad Company. After such registration, no transfer shall be valid unless made on said books by the regisieied holder in person or by his attorney duly authorized, and similarly noted on the bond, but the same may be discharged from registration by being transferred to bearer, and thereupon transferability by delivery shall be restored; but this bond may again from time to time be registered or transferred to bearer as before. Such registration, however, shall not affect the negotiability of the coupons, which shall continue to be transferable by delivery. The holder of this bond may, at his option, surrender the same for cancellation with all unmatured coupons thereto attached or appertaining. In exchange for a registered bond without coupons, as provided in said mortgage and deed' of trust. 1 his bond shall not be valid or become obligatory for any purpose until It shall have been authenticated by the certificate of the said Company Trustee hereon endorsed. The mortgage securing this bond has been duly stamped according to the United States Internal Revenue law. In wiTNiiSS whereof, Uuion I'acific Railroad Company has caused these presents to be signed by its Pre8id«nt or one of its Vice-Presidents, and its corporate seal to be hereunto affixed and t'l be attested by its Secretary or an Assistant Secretary, and coupons for said interest, with the engraved slgnatureof its Treasurer to ue attached hereto, as of the first day of May. 1901. Union Pacific Railroad Company, by President. Attest [FOEM OF coupons MATURING ON AND PRIOR TO MAY No. 1, 1906 1 $20. •Union Pacific Railroad Company will pay to the bearer at its office or agency in the city of New York (unless the bond to which this coupon is annexed shall have been previously converted into stock) twenty dollars In United States gold coin without deduction for taxes, being the semi annual interest then due on its First Lien Convertible Four Per Cent Gold Bond No. On the first and by these presents does convey, unto the Trustee, All AND SINGULAR the several lines of railroad, property, and premises belonging to the Railroad Company, which are particularly described as follows : Railroad Formerly Belonging to Following Companies: Miles- Denver & Gulf Railway Co.— Julesbure Branch, extending from La Salle, Col., easterly or northeasterly to Union Pacific 151-53 Julesburg, Col Omaha Republican Valley Railway Co.— Manhattan, Kan., north to Nebraska State line North Loup to Ord, Nebraska <fe Oconee to Albion, Neb Genoa to Cedar Rapids, Neb St. Paul to Lonp City, Neb Blue Springs Junction to Blue Springs, Neb Boelusto Nantasket, Neb Columbus to Norfolk. Neb. Valley, Neb., via Valparaiso, to Kansas State 1 } 482-04 line Valparaiso to Stromfberg, Neb Islaiad to North Loup, Neb Scotia Junction to Sootia, Neb Nantasket to Pleasanton, Neb Union Pacific Lincoln & Colorado Ry. Co.— Sallna, Kansas, to Colby, Kansas, and Oakley, Kansas, to Colby, Kansas 225-35 858-92 Total & Western Ry. Total, including Leavenworth Kansas [entire stock pledged, no bonds outstanding] >.. 1,024-27 Together with all additions, lands, terminals, yards' bridges, tracks, rights of way, trackage rights, buildings' telegraphs, shop8,elevators, and other structures and fixtures' easements and leaseholds, corporate rights and franchises, now held or acquired or hereafter held or acquired for use in connection with the said lines of railroad, specifically above described; and also all the earnings and profits thereof; also the following-described bonds and stocks, namely: Securities Pledged Hereunder. Pledged. Capital stock (par value)— IT Tolai issued. $197,832,118 $75,000,000 Southern Pacitlc Co. stock 27,334,700 27,460,100 Oregon Short Line RR. stock x7, 663,500 Oregon RR. & Navigation Co. com. stock... 24,00a,i 00 x9, 876,-200 11,000,000 Preferred stock 4,706,000 Union Paoifto Coal Co., 1 fit M. gold bonds.. Leavenworth Kansas & Western Ry. stock 1,000,000 1,000,000 (165-35 miles of road, unmortgaged) X In addition the Oregon Short Line RR. Co. owns and has pledged under its own Series B Income Mortgage: $16,281,400 common and $976,900 preferred.— Ed. H Supplied, not in mortgage. Together with any and all shares of stock or bonds of any other corporation which the Railroad Company rnay hereafter deposit and pledge hereunder by way of substitution or otherwise. Estimated Value of collateral, Etc [The following estimate not contained in the mortgage has been furnished to show the approximate value of the property conveyed as security for the $100,000,000 bonds: Amount under morl. Capital stock {par value)— $75,000,000 Southern Paclflo Co. stock 27,334,700 Oregon Short Line RR. stock 7,663,500 Oregon RR. & Nav. Co. com. stock.. 9,876,200 Preferred stock 4,706,000 Union Pacific Coal Co. 1st M. bonds. Leavenworth Kan. & West. Ry. stock 1,000,000 (165'35 m. of road, unmortgaged). ^Estimated value—^ Amount. Bate. ."SO $37,500,000 27,334,700 Par " 7,663,500 9,876.200 4,706,000 8ee"RR. Lines." .••• $37,080,400 $126,580,400 Total Railroad Lines — Lines owned In fee 858-92 miles, and Leavenworth Kan. & West. Ry. [see above] 165-35 miles; total 1,024-27 20,485.400 miles at $20,000 per mile Grand $107,565,800 total There is no intention to add to the property conveyed to the trustee under the mortgage, the security already being thought ample.] But IN TRUST, nevertheless, for the equal and proportionate benefit and security of all holders of the bonds and coupons issued or to be issued under this indenture, without preference, priority or distinction. ARTICLE FIRST. Secretary. • : Grand [FORM OP COUPON BOND.] No. PROPERTIES MORTGAGED AND SECURITIES PLEDGED. Now, therefore, this Indenture Witnesseth That, in order to secure the payment of all such bonds at any time outstanding, and in consideration of the sum of flOO duly paid by the Trustee, the Railroad Company has conveyed, day of Treasurer. [The coupons maturing after May 1. 1906, have the same wording with the addition within the parenthesis of the words "or called for redemption."] issue LIMITED TO $100,000,000. The aggregate amount of all the bonds, engraved or temporary, which may be entitled to the security hereof at any one time shall not in any event exceed $100,000,000. REGISTRATION. The Railroad Company and the Trustee may treat the bearer of any coupon bond which shall not at the time be registered, and the bearer of any coupoo, as the absolute : June 1, THE CHRONICLE. 1901.] 1085 PROVISIONS RESPECTENa SECURITIES PLEDGED. owner, and neither the Railroad Company dor the Trustee The provisions relating to the treatment of the securities shall be affected by any notice to the contrary. The Railroad Company will keep in the city of New York pledged, the disposition of their income, etc.. are drawn registers of bonds issued hereunder, which shall at all with much detail to protect the rights of the bondholders. reasonable times be open for inspection by the Trustee and Following are some of the points covered: any holder of bonds issued hereunder, and upon presentaSo long as there shall be no default in the paTment of principal or tion will cause to be registered therein any bonds issued interest of the bondH hereby secured, the Railroad Company shall have to vote In respect of said shares of stock and said borids, for any under the provisions hereof. The holder of any coupon power purpose whatsoever; but la the event of default, such power may be ownership registered the thereof on said exercised by such persons as may be designated by the holders of a bond may have books, and such registry noted on the bond, after which no majority In interest of the bonds hereby secured and then outstanding, duly signed. transfer shall be valid unless made on the said books by the by instruments in writing So long, also, as there shall be no default, as aforesaid, all dividends registered holder thereof, in person or by his attorney duly on the shares pledged shall be paid over to the Railroad Company, but authorized, and similarly noted on the bond; but the same In the event of default all such moneys collected by the Trustee may by it applied to the payment of the Interest upon the bonds hereby may be discharged from registry by being in like manner be securei or to any expenditure of the Trustee authorized under thla transferred to bearer, and thereupon transferability by indenture. Such registration, however, delivery shall be restored. All dividends payable in stock upon any of the shares pledged shall shall not affect the negotiability of the coupons. The holder of any coupon bond may at any time surrender the same for cancellation with all unmatured coupons belonging thereto and receive in exchange therefor a like amount of the principal thereof, ia registered bonds without coupons; or the registered holder of any registered bond may at any time surrender the same for cancellation and receive in exchange therefor a like amount of the principal thereof in coupon bonds. The Railroad Company may make a charge not exceeding each new registered or coupon bond issued upon such exchange or transfer. $1 for REPLACING BONDS MUTILA.TED OR DESTROYED. In case any bond issued under this indenture shall bocome mutilated or be destroyed, the Railroad Company, in its discretion, may issue, and thereupon the Trustee shall certify and deliver a new bond of like tenor and date, bear ing the same serial number as the one mutilated or destroyed, in substitution for and upon cancellation of the mutilated bond or coupons, or upon receiving satisfactory indemnity in lieu of the same if destroyed. TEMPORARY BONDS. Until the bonds intended to be secured hereby can be engraved and prepared, the Railroad Company may execute and deliver printed or lithographed bonds, substantially of the tenor of the bonds hereinbefore recited, except that no coupons shall be attached to said bonds. ARTICLE SECOND. be delivered to the Trustee as further security for the benefit of the bonds hereby secured. So long as there shall be no default In the payment of the principal or interest of any of the bonds hereby secured, the Railroad Company shall be entitled to receive all Interest paid on the bonds deposited In trust out of the surplus revenues from oijeration. Any sums paid on account of the principal of any of the bonds pledged, or on account of the interest, out of the proceeds of the property, or In case, upon the liquidation of any company, any sum sh.iU be paid upon any shares of stock pledged hereunder, then any such sum, unless applied on account of the purchase price of property purchased and subjected to the Uen of this Indenture, shall be received by the Trustee and used for the purposes hereinafter, in Article Twelfth hereof provided. The mortgage also contains explicit provisions safeguarding the rights of the bondholders in case of the reorganization or dissolution of any of the companies whose securities are pledged with the Trustee. PLEDGE OF SHARES NOT TO PREVENT CONSOLIDATION, MERGER OR SALE. The pledge hereunder of any shares of stock shall not prevent the consolidation or merger with the Railroad Company, or with any other corporation whose shares are pledged hereunder, of any corporation whose shares are so pledged, or the lease, sale or transfer by any of such corporation of its railroads and franchises to the Railroad Company or to any such corporation whose shares are pledged as aforesaid; provided that such consolidation, merger, lease or transfer shall be made only in such manner as not to impair the security for the bonds issued hereunder. If new securities are issued on any such consolidation, merger or transfer in lieu of stock pledged under this indenture, the same may be substituted in the place of such pledged stock. ENTIRE ISSUE DELIVERABLE UPON REQUEST OF ARTICLE FOURTH. RAILROAD COMPANY. DEFAULT FOR 60 DAYS, TRUSTEE MAY TAKE POSSESSION. The bonds secured by this indenture shall, as soon as reIn case of default, (1) for sixty days in the payment quired by the Railroad Company, be certified by the Trustee of interest on any bond hereby secured, or (2) in the and delivered to the Railroad Company. payment of the principal of any such bond, or (3) in the due observance of any other covenant of the RailARTICLE THIRD. road Company, for sixty days after written notice thereof PRINCIPAL AND INTEREST TO BE PAID PUNCTUALLY, to the Railroad Company from the Trustee or from the TAX FREE. holders of 5 per cent of the bonds at the time outstanding; The Railroad Company will punctually pay to every holder then the Trustee either personally or by its agents or attorof any bond secured hereby the principal and interest ac- neys may, and upon the written request of the holders of 25 cruing thereon, all in gold coin of the United States of per cent in amount of the bonds hereby secured then outAmerica of or equal to the present standard of weight and standing shall, forthwith enter upon all the railroad premfineness, without deduction for any tax or taxes which the ises hereby conveyed and operate the same, either personally Railroad Company may be required to pay thereon, or to re- or by receivers or attorneys, to the best advantage of the tain therefrom, under any present or future law of the holders of the bonds hereby secured. Upon every such United States of America, or of any State, county, or muni- entry the Trustee shall be entitled to collect all earnings cipality therein. and profits of the mortgaged premises, and after deducting the expenses of operating and of all repairs, additions and COVENANT NOT TO EXTEND INTEREST. improvements, and all payments for taxes and prior charges In order to prevent any accumulation after maturity of upon the said property, as well as reasonable compensation interest upon the bonds, the Railroad Company covenants for its own services, etc., it shall apply the moneys arising that it will not, directly or indirectly, extend or assent to the extension of the time for payment of any coupon or claim for interest upon any bonds secured hereby; and that it will not be a party to or approve any such arrangement by purchasing or funding such coupons or claims for interest upon registered bonds or in any other manner. Coupon or claims for interest, if so extended, shall not be entitled, in case of default hereunder, to the security of this indenture, except subject to the prior payment in full of the principal of all bonds issued hereunder then outstanding, and of all matured coupons and claims for interest on such bonds, the payment of which has not been so extended, as aforesaid as follows: First. In case the principal of the bonds hereby seoured shall not have become due, to the payment of the Interest in default in the order of the maturity of the instalments of such Interest, with Interest thereon, such payments to be made ratably to the persons entitled thereto without any discrimination or preference; Second. In case the principal of the bonds hereby secured shall have become due, by declaration or otherwise, first, to the payment of the accrued interest (with interest on the overdue instalments thereof) in the order of the maturity of the instalments, and next, if any surplus remain, towards the payment of the principal of all bonds hereby secured; such payments in every instance to be made ratably to the persons entitled thereto, without any discrimination or preference Company shall make default in any mentioned in this article, and at any time COVENANT TO DISCHARGEj TAXES, ETC. during the continuance of such default there shall be any The Railroad Company covenants that it will, from time existing judgment against the Railroad Company unsatisfied to time, duly pay and discharge all taxes, assessments and and unsecured by bond on appeal: or in case, in any judicial governmental charges lawfully imposed upon the railroads, proceeding by any party other than the Trustee, a receiver property and premises hereby mortgaged and pledged, or shall be appointed of the Railroad Company, or a judgment upon the income or profits thereof, the lien of which might entered for the sequestration of its property, the Trustee In case the Railroad of the respects be held superior to the lien of this indenture, so that the priority of this indenture shall be fully preserved. OTHER COVENANTS. The Railroad Company To maintain an agency also covenants as follows New York where bonds and coupons may be presented for payment. To keep the mortgaged property in thorough repair and working in the city of order. To preserve unimpaired the lien of this indenture upon all the'aforeadditions, switches, side tracks, betterments and Improvements thereto; but such lien shall not attach to new railroad lines or bra ohes hereafter required. To deliver the shares of stock hereby pledged, endorsed in blank to the Trustee hereunder, to be held by it, subject In all respects to the lieu of these presents. sald property, and all shall be entitled forthwith to exercise the rigbt of entry herein conferred, without waiting said prescribed default period, and, as a matter of right, the Trustee shall thereupon be entitled to the appointment of a receiver of the premises. ARTICLE FIFTH. PRINCIPAL SHALL BE DECLARED DUE ON REQUEST OF A MAJORITY OF BONDS. In case of default for six months in the payment of any interest on any bond hereby secured, the Trustee, upon the written request of the holders of a majority in amount of the bonds hereby secured then outstanding. shaH, by notice in writing, delivered to the Railroad Company, declare the THE CHRONICLE. J088 all bonds secured hereby then outstanding to be due and payable immediately. But if thereafter all arrears of interest (with interest on overdue instalments) shall be paid or collected out of the mortgaged premises before any sale of the property shall have been made, then the holders of a majority in amount of the bonds then out standing, by written notice, may waive such default and its consequences. ARTICLE TWELFTH, principal of ARTICLE SIXTH. DEFAULT. PROPERTY MAY BE SOLD. In case of default as in Article Fourth provided, the Trustee shall, in its discretion, be forthwith entitled, with or without entry, to sell to the highest and best bidder, in one lot and aa an entirety, all and singular the mortgaged railroads and premises, rights, franchises and interests, and said pledged and deposited bonds and shares of stock, at such place and time, and upon such terms, as the Trustee may fix. [Vol. LXXII, RELEASE OP PROPERTY. Upon the written request of the Railroad Company, approved by resolution of its Board of Directors or Executive Committee, the Trustee shall from time to time, so long as the Trustee shall not have taken possession of the mortgaged property, release from the lien of this indenture any part of the rnortgaged property and premises then subject thereto, provided that, except as hereinafter specifically provided, (1) No part of the main track or of the right of way shall be released unless at the time of such release the same shall no longer be of use in the operation of any of the mortgaged lines of railroads. (2) No part of such line of track or right of way shall be so released If thereby the continuity of the respective lines of railroads hereby mortgaged shall be broken. (3) No part of the mortgaged railroad property shall be released hereunder unless at the time of saoh release it shall no longer be necessary or expedient to retain the same for the operation, maintenence or use of such railroads or for use in the bu^lne^8 of the Rail- road Company. ARTICLE SEVENTH. OR TRUSTEE MAY BRING FORECLOSURE OR OTHER 8UIT8. In case of default in the payment of the interest or principal of any such bond, or in the due observance of any other covenant of the Railroad Company J or sixty days after written notice thereof from the holders of 5 per cent of the outstanding bonds hereby secured, then the Trustee may forthwith proceed to enforce the rights of bondholders by suits in equity or at law for the foreclosure of this indenture or for the collection of interest or of principal and interest, or for the enforcement of any other appropriate legal or equitable remedy, as the Trustee shall deem most effectual. ARTICLE EIGHTH. MAY BE APPOINTED. JUDICIAL PROCEEDINGS— RECEIVER (4) None of the bonds or shares of stock pledged and deposited hereunder shall be released hereunder except as and upon the conditions In this indenture provided The proceeds of any and all such sales shall be held in by the Trustee and applied to one or more of the following purposes: trust (a) To the purchase of other property, real or personal, which shal be subjected to the lien of this mortgage as a first lien thereon. (b) Applied in additions, betterments or improvements to the mort" gaged premises or rolling stock for use thereon, which shall likewise be subjected to the lien of this mortgage. (c) To the purchase for cancellation of bonds Issued hereunder at a price satisfactory to the Trustee and the Railroad Company, such bonds after May Isr., 1908, to be called, if the Railroad Company so requests, for redemption at 10213 per cent if not purchasable at a less price. (d) Invested by the Trustee In such securities as shall be agreed proceedings by the upon by the Trustee and the Railroad Company. Trustee to enforce any right under this indenture, the SUBSTITUTION FOR SOUTHERN PACIFIC STOCK. trustee shall be entitled to exercise the right of entry herein While there shall be no default hereunder, the Railroad conferred and to the appointment of a receiver of the prem Company shall have the right at any time, by resolution of ises hereby mortgaged. Except as herein expressly provided its Board of Directors or Executive Committee, of which a reserved to the contrary, no remedy herein conferred upon or certified copy shall be lodged with the Trustee, to require to the Trustee or to the holders of bonds hereby secured is intended to be exclusive of any other remedy, but every the Trustee to deliver to the Railroad Company, fully disremedy herein provided shall be cumulative, and shall be in charged from the lien hereof, any and all shares of the addition to every other remedy given hereunder or now or capital stock of the Southern Pacific Company pledged and delivered to the Trustee hereunder, upon the delivery to the hereafter existing at law or in equity, or by statute. Upon commencement of judicial ARTICLE NINTH. PROVISIONS RESPECTING SALE OF PROPERTY, In the event of any sale by virtue of the power of sale herein contained or pursuant to judicial proceedings, the whole of the property hereby mortgaged may be eold in one parcel and as an entirety, including all the rights, titles, estates, railroads, franchises, bonds, shares of stock, and other real and personal property of every name and nature, unless such sale as an eiitirety be impracticable by reason of some statute or other cause, or unless the holders of a majority in amount of the bonds hereby secured then outstanding shall in writing request the Trustee to cause said property and premises to be sold in parcels, in which case the sale shall be made in such parcels as may be specified in such request. PRINCIPAL TO BECOME DUE O.V SALE. In case of such sale of the mortgaged property, the whole of the principal sum of the bonds hereby secured, if not previously due, shall, at the option of the Trustee or of the holders of a majority of the bonds hereby secured then outstanding, become immediately due and payable, anything in said bonds or in this indenture contained to the contrary notwithstanding. ARTICLE TENTH. Trustee, in substitution tcerefor, of an amount in any or either of the following securities equal at face value to onehalf of the par value of the shares of the Southern Pacific Company so withdrawn namely: (a) Income A bonds of the Oregon Short Line RR. Co. (b) Income B bonds of said last-named company. (c) New bonds which may hereafter be issued by said last named company, and tor or Into which said Income A or Income B bonds may be exchanged, converted or refunded, provided said new bonds shall be secured by mortgage covering all the railroad property ot the Oregon Short Line RR. Co. which is now embraced in. the mortgages — • said Income A and Income B bonds. any new issue ot bonds which is actually issued for the express purpose of funding, converting or exchanging said Income A and Income B bonds shall be deposited on such exchange, and if the interest on the new bonds shall be less than 4 per cent, then an addltionil amount in such new bonds shall be deposited so as to equal In Interest at least 4 per cent on the face value of the bonds originally deposited hereunder. (d) Common stock of the Oregon Railroad & Navigation Co. It is expressly agreed that the Income B bonds of the Oregon Short Line RR, Co.. or any such new bonds of said company for or into which said Income B bonds may be exchanged, converted or refunded, may be so substituted hereunder for shares of the Southern Pacific Company, notwithstanding there may have then been withdrawn from the lien of the mortgage securing said Income B bonds, all or any part of the 162,814 shares ($16,281,400) of the common capital stock of the Oregon Raihoad & Navigation Co. now of that company securing But only the portion of embraced in said last mentioned lien. It is also agreed APPLICATION OF PROCEEDS OF SALE. 162.814 shares of the common capital stock of the In case of any such sale of the mortgaged property, the that said Railroad & Navigation Co., or any part thereof Oregon proceeds, together with any other sums held by the Trustee which may have been so withdrawn from said lien, shall be as part of the trust estate, shall be applied as follows : First— To the payment of the expenses, suohMsale, and a reasonable compensation to the. Trustee, Its agents and attorneys, and to the paj ment of all expenses made by the Trustee, and to the payment of all taxes, assessments or Hens prior to the lien of these presents, except any taxes, assessments or other superior liens subject to which such Bale shall have been made. Second -Any surplus then remaining to the payment of the whole amount owing or unpaid upon the principal and interest of the bonds hereby secured, wilh Interest on the overdue Instalments of interest ratably according to the aggregate of such principal and the accrued and unpaid interest, without preference <r priority of principal over Interest or of Interest over principal, or of any instalment of interest over any other Instalment of interest. The purchaser, in making settlement for the property, shall be entitled to turn in any bonds issued hereunder and any matured and unpaid interest or coupons, and to be credited therefor to the extent of the valtie of such bonds, interest and coupons, upon a distribution among the bondholders of the net proceeds of such sale after making the deductions allowable under the terms hereof for the costs and expenses of the sale and otherwise. ARTICLE ELEVENTH. This Article provides that in case of default for six naonths in the payment of interest or of default in the payment of principal when due or declared due, the trustee shall be entitled t© recover judgment for the whole amount due and unpaid. available for the purpose of substitution hereunder for shares of the Southern Pacific Company, upon the terms hereinbefore provided. While no default exists hereunder, the Railroad Company shall have the right at any time to require the Trustee to deliver, fully discharged from the lien hereof, aoy and all securities pledged hereunder, and the Trustee shall release from the hens and trusts of this indenture any and all lines of railroad herein mortgaged upon (1) delivery to the Trustee of a certified copy of a resolution of the Board of Directors or Executive Committee of the Railroad Company calling upon the Trustee to make such delivery or release, and specifying the securities to be withdrawn or lines of railroad to be released, and (2) payment by the Railroad Company to the Trustee, in cash or in bonds issued hereunder taken at their face value, of an amount equal to and at the rate of the valuation affixed to the securities so withdrawn and lines of railroad so released, as follows : Valuation op Sbcdeities, etc., for Purpose of Withdrawals. Value. Capital stock of the Southern Pacific Co, pledged hereunder, per $100 share Other securities originally depasited hereunder 01 substltuted as herein provided Securities or property purchased and held as further security hereunder Lines of raUroad subject to the Uen hereof *50 P*r Net purchase price $20,000 per mile June 1, THE CHKONICLE. 1901.1 All money received by the Trustee for securities and property so withdrawn shall be used in accordance with Article Twelfth, and in case payment be made in bonds issued hereunder the bonds shall be forthwith canceled by the Trustee. ARTICLE THIRTEENTH. BONDS CONVERTIBLE AT ANY TIME BEFORE MAY 1, 1906. The bonds shall be convertible at the option of the holder thereof on or at any time before May 1, 1906, into the common capital stock of the Railroad Company at par; that is to say, at the rate of ten shares of such stock for each §1,000 bond with a cash adjustment of current or accrued intorHst and dividends. All bonds so converted shall be forthwith canceled. BONDS SaBIECT TO I02»5a CAI.i AFTER MAY ANJD INTEREST. 1, 1906, AT The Railroad Company may, upon any interest day after 1, 1906, and before maturity, redeem any or all the bonds at a premium of 2% per cent after notice by advertisement in at least two newspapers in the City of New York and in one newspap>-r in the City of London once a week for eight consecutive weeks preceding such interest date, and also by mail to owners of registered bonds to be redeemed. In case less than all of said bonds are to be redeemed the Trustee shall, upon the request of the Railroad Company and in the presence of one of its officers, determine by drawing by lot the numbers of the bonds so to be redeemed. All bonds redeemed and paid as hei'einbefore May provided shall forthwith be canceled. CONVERTED OR REDEEMED BONDS AVAILABLE FOR WITH- DRAWAL OF HEOUKiriEB PLEDGED. All bonds converted into common stock or redeemed and canceled as aforesaid shall be available to the Railroad Company, at their lace value, as payment for securities withdrawn and property releasea at the valuation mentioned in Article Twelfth hereof, and when so used or applied sball be forthwith destroyed by the Trustee. ARTICLE FOURTEENTH. HOLDERS OF TEN PER CENT OF BONDS MAY REQUIRE TRUSTEE TO AOT-MAJORlTY TO CONTRuL. The Trustee shall not be required to take notice of any default hereunder unless uotihed in writing of such default by one or more bondholders, nor to take any action involving expense unless requested in writing by the holders of not less than 10 per cent in amount of the bonds hereby secured, and unless tendered reasonable indemnity. The holders of a majority in amount of the bonds hereby secured then outstandiog shall have the right from time to time, by instruments in writing delivered to the Trustee, to direct all proceedings for the foreclosure of this indenture; or any other action or proceeding hereunder. ARTICLE FIFTEENTH. NO SUIT BY B3NDUOLUER3 PEKMITfED WITHOUT PRIOR REQUESl.' AND INDEMNii Y TO TRUSTEE. No holder of any bond or coupon hereby secured shall hare the right to institute any proceeding in respect of this indenture unless such holder shall previously have given to the Trustee written notice of any existing default and unless the holders of 10 per cent in amount of the bonds shall have made written request as aforesaid upon the Trustee and shall have afforded to it reasonable opportunity to proceed itself to exercise the powers hereinbefore granted, it Natioual Asphalt K^o.— Decision,— A. press despatch from Caracas states that the President of the Supreme Court, ticting alone as examining judgw in the cjncesaion coairoversy, has dicided in favor of tne jurisdiction.of tue Co art, and nas ordered Messrs. Quiulan and Wurnock of Syracuse to deposit $20,0u0 guarantee to abide oy tne final decision. Th« full court, it is said, will prooably Oe asked to decide tne quesuon finally. See V. Ti, p. 148, ZH. 2S6.— V. 73, p 393, 341. Warntr-Qumlan Company. See Continental Asphalt Pav- — ing Co. above.— V. 72, New York & p. 393, 341. Westchester Water Co.—S«/e.— The fore- closure 8dle will laiio place at the Couniy Cjurt Hou^e, Wmte Plains, on Juue i7. The amouat found to oe dui un der the mortgage is $690,785, wicn interest from April %i, 1901.- V. 7a, p. «23. Pacific Mail Steamsbip Qo.—Mr. Qould a Director.— At the aanunl meeting on Wednesaay ot tuis weea Gdo. J. Gould was elecced a director in placo oi Isaac E Gites. No other change in tne board was made. See report on a preceding page.— V, 71, p. 1313. Palmetto Co.— Authorized.—ThQ shareholders on May 28 votea to increase the capital stock from oJ, 500,000 to $lu,000,000, and to carry out the plan outlined in V. 72, p. 103a. Peuusjlvania Coal Co.— Final Dividend.— The liquidating May trustees 24 mailed to the stockholders a final dividend of 43 1 5 per cent, or $21 60 per share, being the balance ot the proceeds trom the sale of treasury assets anl coal ou hand which were reserved for ttie beneht of the stockbolders under the offer of J P. Morgan & Co. to purchase the stock at $276 (or 552 per cent) ptr $50 stiare. This payment, together with the 200 per cent, or $100, previously received on account of the reserved assets, makes a total of 795 15 per cent or 1397 60 per share received by the stockholders.- V. 72, p. 630. oil 1087 being understood that no one or more holders of bonds or coupons shall have the right to enforce any right hereunder, except in the manner herein provided, and that all proceedings hereunder shall be instituted as herein provided and for the equal benefit of all such outstanding bonds and coupons. ARTICLE SIXTEENTH, TRUSTEES; REMOVAL, APPOINTMENT. ETC. The Trustee may be removed at any time by an instrument in writing executed by the holders of 75 per cent in amount of the bonds hereby secured then outstanding; but no such removal shall be made before default hereunder without the written consent of the Railroad Company. In case the Trustee shall at any time resign or be removed or otherwise become incapable of acting, a successor may be appointed by the holders of a majority in amount of the bonds hereby secured then outstanding, by instruments signed by such bondholders or their attorneys. But in case of a vacancy in the office the Railroad Company may appoint a Trustee to fill such vacancy temporarily. The Railroad Company shall thereupon publish notice of such appointment by it once a week for four successive weeks newspapers publiehed in Salt Lake City and New York City; but any new Trustee so appointed shall immediately be superseded by a Trustee appointed by the holders of a majority amount of the bonds hereby secured, if such appointment be made by the bondholders within six months alter the first publication of such last-mentioned notice. Every such newTrustee shall always be ft trust company in good standing and doing business in the city of New York, and having a capital and surplus aggregating at least §1,.500, 000. m m ARTICLE SEVENTEENTH. CONSOLIDATION, MERGER OR LEASE NOT PROHIBITED. Nothing contained in this indenture shall prevent any consolidation or mei'ger of the Railroad Company with any other corporation, or any conveyance, tranbier or lease, subject to the continuing lien of this indenture of all the mortgaged premises to any railroad corporation lawfully entitled to acquire the same; provided, however, that such consolidation, merger, conveyance, transfer or lease shall be upon such terms as to fully preserve and in no respect impair the lien or secu/ity of tbis indenture, or any of the rights or powers of the Trustee or of the bondholders hereunder. ARTICLE NINETEENTH. COVENANT TO WAIVE STAY OR EXTENSION LAWS. The Railroad Company will not at any time take advantage of any stay, extension, valuation, appraisement or redemption law to impede the execution of any power herein granted, but will permit the execution of every such power as though no such law or laws had been made or enacted. COVENANT FOR FURTHER ASSURANCE. The Railroad Company will also execute all such further deeds for the better assuring unto the Trustee all and singular the property hereby conveyed as the Trustee or a majority in amount of the holders of bonds issued and outstanding hereunder shall reasonably require for better securing payment of the principal and interest of the bonds. All the,covenants in this indenture on behalf of the Railroad Company shall be for the exclusive benefit of the parties hereto and of the holders of the bonds hereby secured, and shall bind and apply to the successors and assigns of said Railroad Company, whether so expressed or not. People's Uas Light — & Coke to. of tliicago.— iVew Agree- agreement was reacntd on May 25 between comi;any officials witn reference to the new contract becwten city and company. The City Council, however, will not act on the ordinance raiifying tue same until w ek after next. The "Chicago lucor-Ojeau" says: nienc. Another the city and gas porcentaii^e clause remains the same as in previous contracts, per cent ot ibe Kross receipts from lUumlnatinif gas uud 5 per cent from fuel. Ttie peroeniagc is lu be paia iu gas, Uie company guaranteelug that tlie reoelptH Irom tUese sources shall uui oe less than $375,000, including the $2 3,000 it will cost ihe compauy to lustal Inoandescent mauiles on the ilo,0i>u lamps to be put in service. The city is to pay the cost of maiatenanoe, operation aad repairs after the new burners are put in. This oosc will, it is estimuteii, amouut to between $125,OoO ana $150,000. Tlie clause of the coatraot binding the c ty not to attack in the courts the act of cousulldation passed oy the L-glslature la 189 1 speclhoally exempts the two suits now pending, one being a Dill of discovery oonoeruing the saie of the franchise or the Ogdeu company to the People's and the other the attempt to enforce tho ordinance hxing the price of gas at 75 cents. member of the city finance committee says: '"The city gets at least 30 per cent more light and an average of 1,600 more lamps. Last year we paid the gas company |150,000. Tne difference in favor of this year's contract is $l6,0u0." Purchase.— C. ntrol of the Cicero Gas Co. it transpires has b;;en ^urcliased oy parties inieredted in the People's Company. The purchase price la reported to have b<*en par for about SO per ent of Cicero stock. Tne Cictro Company has outstanding S300,0i)0 stock atid 5*500,000 first mortgage 6 per Cent bonds due in 1922.— V. 72, p. lu3S, 991. TUe 31^2 A « Portland ()[e.) Lighting & Power Co.— ifortgage] AuthorThe directors have authoriZ'sa a mortgage to th« American Loan & Trust Cj. ot Boston, as trustee, to secure $350,000 of 44 per cent 20-year first mortgage gold bonds.— ized. — See V. 72, p. 779. Kogers Locomotire Works.— /ncrease of Stock.— The stockholders have authorized an increase of the autnorized stock — — . THE CHRONICLE. 1088 from $125,000 ferred.— V. to $1,600,000, of which one-half is [Vol. LZXII, to be pre- 72, p. 991, 939. Rome (N. T.) Was Electric Light & Power Co.— Purchase.— The stockholders of the Rome Gas Light Co. vot^d on May 22 to sell the property to this new company, incorporated on May 8 with $100,000 capital stock— V. 72, p. 939, Friday Night. May 31, 1901, AppliLtsf.— St. Joseph Stock Yards Co.—Application to The inclement weather on the Atlantic coast and the gencation has been made to the New York Stock Exchange to erally backward season throughout the country are being list the $1,250,000 first mortgage i}4 per cent bonds of 1930. felt in several lines of merchandise. The distributing busi—V. 70, p. 949. Seattle Gas & Electric Co.— Change in Price of Oas.—The ness has been moderate, being a disappointment to many price of gas, now $2 per 1,000 cubic teet for illnminating pur- jobbers, and also has had a tendency to upset somewhat calposes and $1 50 for fuel purposes, will be changed to a flat culations on general market conditions. Reports from the rate of $1 80 per 1,000 for all purposes, commencing July 1, West and South, with few exceptions, speak of the subject to a deduction of 20 cents per 1,000 on all bills paid crops The cotton acreage, according to as backward. within ten days of the months succeeding that for which bills are delivered.—V. 72, p. 824. the Agricultural Bureau report issued on Friday, shows an inStandard Electric Co. ot Californix—Status of Enterprise. crease of 8*3 per cent over last year. The U. S. Supreme The company's plant is expected to be in operation in Court has decided that the U. S. Government has the power October or November of this year. The capacity of the plant will be 20,000 horse power. Of the $5,000,000 bonds to impose an import duty on goods from Porto Rico, but that provided, there will be required about |4, 000.000 to complete importations^from this island, after its acquisition by treaty the work. All of the stock is issued, and is held as a close and before legislation by Congress on its tariff laws, should corporation.— V. 70, p. 850. be treated like those coming from any part of the Republic. Syracuse (N. T.) Lighting Co.— Incorporated. This comLard on the spot was quiet and easier early in the week, pany was incorporated at Albany on May 28 with $2,500,000 but later turned firmer on light offerings due to small stocks. of authorized capital stock, of which $1,000,000 is to be 5 per cent non cumulative preferred. Directors: Charles V. The close was steady at 8'45c. for prime Western and 7"85@ Nellany of Brooklyn, Harry F. Ives and Richard F. Mc- 8c. for prime City. Refined lard has been quiet, but at the Kiniry of New York City. The new company, it is under- close of the week prices advanced, the final quotation for restood, will absorb by consolidation the Syracuse Q-as Co. and fined for the Continent being 8'60c. Speculation in lard for the Syracuse Electric Light & Power Co. All of the out- future delivery has been quiet. Early in the week prices standing bonds of the latter will be called in and a new issue sagged. Subsequently, however, the market turned firmer made of $2,000,000 bonds, which have been sold to Redmond, on light offerings, and the close was steady. Kerr & Co. The following are said to be interested: DAILT OIiCSINa PBI0B8 OF LABD FUTUBBS. 'WlUiam L. Elklns Jr. of Philadelphia. Stephen Peabody and Henry Wed. Thun. Mon. Tue$. 8at. Fri. Seligman of New York, Robert O. Pruyn of Albany and John Dunfee 8-37 8*37 8-35 8-40 Holiday. 8-45 COMMERCIAL EPITOME. — — of Syracuse. — United States Steel Corporation.— Lfsfed in London. The London Stock Exchange on May 81 placed on the list $400,000,000 of the company's seven per cent cumulative preferred and $400,000,000 common stocK.— V. 72, p. 1038, 992. United States Watch Co. Incorporated.— This company has been incorporated inJNew Jersey with $1,000,000 capital stock. The incorporators include John Lowber Welsh and E. T, Stotesbury, Philadelphia, and Horace L. Roberts, Haverford, Penn. The same interests are identified with the Keystone Watch Co., with which it is understood the new company will be closely allied. The new company has acquired the plants at Waltham, Ma?8., of the former United States Watch Co. and the Columbia Watch Co. and proposes to build extensions. — Incorporation, This company was Jersey on May 4 with $2,250,000 stock, to manufacture yarns, thread, etc. The incorporators were: Frank H. Fries, John W. Hanes, William C. Ruffin, Clement Manly and Robert H. Ricko. Washington incorporated in Mills. New Westinghouse Aatomatic Air & Steam Coupler Co.— Con—The stockholders of the International Automatic Air Brake Coupler Co. and of the Automatic Air & Steam Coupler Co. on May 15 voted to consolidate under the name of the Westinghouse Automatic Air & Steam Coupler Co., with solidation. a full-paid capital stock of $5,000,000. The St. Louis "Investor" of May 18 says: The stockholders of the International Automatic Air Brake Coupler Co. and of the Automatic Air & Steam Coupler Co. will receive stock, dollar for dollar, In the consolidated company. The consolidation and change of name has been fully consummated, and the new stock of the Westinghouse Automatic Air & Steam Coupler Co. will be ready to be issued in exchange for the old stock of the two companies about June Ist at the American Central Ballding. The new company now owns absolutely all of the patents formerly owned by the Interoatioal Automatic Air Brake Coupler Co., the Automatic Air Steam Coupler Co. and also all the foreign patents pertaining to air and steam couplers owned or controlled by the Westinghouse Air Brake Co. The officers of the consolidated company are: N. P. Niederlander, President; E. L. Adreon, Secretary and Treasurer; Albert Blair. Vice-President. The general olfloe is at 1983 North Broadway, St. Louis, Mo, & — Messrs. Pfaelzer, Walker & Co. are issuing theirnew containing quotations for 600 steam railroad bonds which are either not actively dealt in or not listed at all; consequently it is of great value to private investors, banks and other financial institutions. Copies may be had gratis by applying at their ofiBice either in Boston (27 State Street), New York (25 Broad Street) or Philadelphia (Drexel Building) The North American Trust Co. and Lawrence Barnum Co. offer to investors $250,000 first mortgage 6 per cent gold bonds of the Southwestern Coal Improve. Co. subject to call for sinking fund at 125 and interest, the principal, interest and sinking fund unconditionally guaranteed by the Missouri Kansas Texas Railroad Co, Twenty- three semiannual coupons have been paid on these bonds. —The Farn:ers' Loan Trust Company will pay dividends on a number of securities, list of which will be found in another column. list & — & & —Winslow, Lanier & Co. will pay dividends on a number which will be found in another column, — N. W. Harris & Co. will pay dividends on a number of of securities, list of Eecnrities, list of which will.be found in another column. May The demand for pork has dragged, but prices have held steady at $15 25@16 00 for mess, $16 00® 16 50 for family and $16 00@18 00 for short clear. Cut meats have held steady; for pickled business has been quiet, closing at 73^c. shoulders, 9J^@10i^c. for pickled hams and 83^@9^c. for pickled bellies, 14@10 lbs. average. Beef has been dull but steady at $8 50@9 00 for mess, $9 50@10 50 for packet, $10 25@1159 for family and $14 00@15 25 for extra India mess. Tallow has been dull but steady at 4^c. Stearines have been steady at unchanged prices at 9)^@yi^c. for lard Cotton-seed oil has stearine and 8^c. for oleo stearine. had a fairly good sale at about steady prices, closing at 35@ Butter has been quiet but prices 35J>^c. for prime yellow. have held steady for the better grades, closing at 15 ^19c. for creamery. Cheese has had a moderate sale at steady prices at 63^@9i^c. for State factory, full cream. Arrivals of fresh eggs have been somewhat smaller and prices hare been steady at 14c. for choice Western, Brazil grades of coffee have been offered with slightly inoreaaed feeedom, and with a spiritless demand prices have favored buyers. The close was quiet at 6J^c. for Rio No. 7. West India growths have had a fairly good sale, jobbers being freer buyers. Prices have been steady at 8@8^c. for good Cucuta. East India growths have been quiet. Speculation in the market for contracts has been quiet, but there has been an increased pressure to sell, resulting from freer offerings of coffee from Brazil, and prices have weakened. The close was easier. The following are the closing asked prices: 570c. 5-45e. Deo Sept 5-500. Jan 5'75o. Oct 5'50o. March 5-90o. 6'35o. Nov. Aug Raw sugars have been in slow demand and closed easier at 4i^c. for centrifugals, 96-deg. test, and 3 11 163. for muscavado, 89-deg. test. Refined sugar has been dull, and at the close Arbuckle Bros, lowered prices 15 points, to 5 40c. for granulated. Other staple groceries have been quiet. Kentucky tobacco has had only a limited sale, but prices have been well maintained. Seed leaf tobacco has been dull but steady. Sales for the week were 1,000 casep, as follows : 300 cases 1899 crop, Wisconsin Havana Bs, 13c.; 300 cases 18S9 crop, Pennsylvania seed, 12@ 13c.; 100 cases 1899 crop, Gebharts, 14c., and 300 cases 1899 crop, Zimmers, 14@l53^c.; also 500 bales Havana at 38@90c. in bond and 150 bales Sumatra at 85c, @|1 90 in bond. Business in the market for Straits tin has been quiet and prices have reacted slightly; the close was steadier on stronger foreign advices at 28-12i^@28'35c. Ingot copper has been quiet and without changes at 17c, for Lake. Lead has had only a limited sale, but prices have not changed from Pig iron has 4-373^c. Spelter has held steady at 3 9i@4c. been quiet and unchanged at $13 00@16 50. Refined petroleum has been steady, closing quiet at 6"90c. in bbls., 7 90c. in cases and 4-35c. in bulk. Naphtha has been unchanged at 9C5c. Credit balances have held steady at Spirits turpentine has been in moderate demand, $1 05. closing steady at 35i^@36c. Rosins have been easier, closing at $1 50 for common and good strained. Hops have sold slowly, but prices have not changed. Wool has been quiet and for most grades prices have been barely maintained. At the close market developments indicate a revival of the coffee-sugar war between the American Sugar Refining Co. and Arbuckle Bros. June 5*200. July 6 300. ! I — ... June . . THE CHRONICLE. 1901.] 1, COTTON. Friday Night, May . ai— Mon. Sat. Salveaton i,27i Sab. Pass, &o. New Orleans... 6,611 3,661 Wed. TKur$. 3,049 Fri. 2,609 •••> 1,961 3,139 1,481 482 60 2 Mobile Pensaoola, Tue$. 6,040 1 2,490 2 Savannah 594 1,934 439 1,607 40 36 8 111 21 3 30 18 63 41 20 163 Ft. Royal,<][0. Wilmington New News. 40. York 366 771 619 mmmmm» 302 48 38 327 • 7,839 3,650 i',787 500 13,029 1,459 4,830. 8,151 295 436 500 300 3,000 2,500 200 600 5,531 Total 1901.. 24,774 987 259 Total 1900.. Totall899.. 10.634 30.760 143 18,045 851 Savannah .... Charleston Mobile Horfolk New York . . Other ports 5.424' 5,330 21,879 13.571 22,227 30.205 1,578! 27,617 27.195 4.150 117,907 65,464 39.471 300 6^606 7,006 4,987 3,000 4,511 8,737 8,115 123,738 41,444 8,€95 74,249 399,387 5,552 34,781 20,566) 92,166 827,801 682,937 3 325 3.127 21 1,202 55 235 739 1,104 127 183 533 7,849 10,797 10,181 6,564 13,512 68.271 163 130 93 9,418 604 303 700 55 1,104 PliUadel'a, &o.. week 413 258 ••«« BoBton.. ....... Baltimore Tot.thlB 4.791 13.483 itoek. Totai. Speculation in cotton for future delivery has been on a scale, Manipulaton in the near-by positions, particularly July, has been the feature. Nervous shorts, fearinfi: a squeeze in prices for July deliveries, have been fairly free buyers to cover contracts, it being estimated that during the week the outstanding short interest in July has been reduced fully 50,000 bales. At the higher prices resulting from this demand some speculative holders have unloaded; they also have bought in their August contracts, which were sold as a hedge against their July holdings, and the differences in prices between the two months have moderately extensive Wa8h'ton,4o. Nortolk N'p't New Orleans. Oalveaton. ... i'.ooo 8S9 44 Leaving Other OoastBHlain Fr'nee many. For'gn wise. Great — 589 296 987 661 ON 8HIFBOABD, HOT OLBAJIBD FOB— 3£ay 31 at- ••• •«• >>••• ••• •••• •«a «** 26,078 ••• Brunsw'k.&o. Obarleston Total. 6,074 143 3,934 4 dio. In addition to above exports, our telegrams to-night also US the following amounts of cotton on shipboard, not We add similar figures for cleared, at the ports named, Rew York, which are prepared for our special vise by Messrs. Lambert & Barrows. Produce Exchange Building. i;ive 31, 1901. 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 58,871 bales, against 53,833 bales last week and 59,007 bales the previous week, making the total receipts since the 1st of Sept., 1900, 7,111,123 bales, against 6,353,511 bales for the same period of 1899-00. showing an increase since Sep.l, 1900, of 758,611 bales. Utceipii 1089 The following shows the week's total receipts, the total since and the stock to-nigbt. compared with last year. narrowed somewhat. Bept.l, 1900, There has some been gelling against cotton shipped from the South, Same houses 1899-1900. Stock. 1900-1901. estimate the quantity of cotton pointing towards this Beeeipts (• market from the South, owing to the higher prices Thi$ Since Sep. TKi$ Since Sep. 1901. May 31. 1900 resulting from the July manipulation, as about 25,000 bales. week. week. 1, 1899. 1, 1900. Prices for the new- crop deliveries have made no pronounced 82,659 Oalveaton... 25,078 2,001,161 1,607 1,692,772 25,010 changes. Private advices quite generally agree that the 493 -„ 143 49,876 85,641 Sab.P.,&o. crop is backward. The season, however, is early, and operaMew Orleans 18,045 2,306,803 11,082 1,793,644 145,524 101,701 tors are not disposed to be aggressive on the bear side of the 551 108,281 24 190,247 tfobUe 8,737 5,623 market with prices on a 7c. basis. Rei)orts from the cotton 371 149,668 P'8aooia,&o. 589 166.235 goods trade have noted quiet markets and spinners have been Savannah.. 21,674 reported slow buyers of cotton. To day there was a quiet 6,531 1,035,301 3,970 1,055,948 43,621 Br'wlok.&c. 987 122,151 800 118,170 3,301 market. Manipulation of the July position and the Bureau 259 226,590 Oharleston.. 316 266,812 4,811 5,307 report, which, although stating an increase in the acre1,622 1,285 P.Boyal.&o. 3 age, made the average condition somewhat poorer tban many 326 256,825 50 277,462 7,008 3,092 expected, resulted in a slight advance in prices. Wilmington. The close 622 799 »«*.. Wanh'n, &o. was steady at a net gain for the day of 2@6 points, exclu7,007 sive of August, which was unchanged. Cotton on the spot 8,127 389,851 2,219 381,771 16,115 Norfolk 112 33,573 1,316 30,117 1,107 has been steady, closingjat 8J^c. for middling uplands. 55 N'portN.,&o The rates on and off middling, as established Nov. 21, 1900, 76,816 67,986 128,725 New York... 1,202 134,212 1,198 25,000 789 190.645 119 108,169 7,000 by the Revision Committee, at which grades other than Boston 7,038 4,946 oaiddling may be delivered on contract, are as follows. 63,331 1,628 95,393 1,104 Baltimore ..0. lie on Strict Good Mid. Tinged.o. s,^ ob 106 3,399 Pair 24,143 46,787 1,985 533 PhUadel.Ao. iHiddling Fair % on Good Middling Tinged E>en 473,636 262.682 dtrict Good Middling...... »ion Middling Tinged !« off Totals 58,271 7,111,122 25,304 6,362,511 otoodMiddllng Bjgon Strict Low Middling Tinged «8 off .. Note.— Net addition of 11,322 bales as correction of receipts since itriot Low Middling Middling Stained Sieofl !« off Sept. 1 at Mobile, Savannah, Charleston and Norfolk. Low Middling li« off 7,6 off Strict Low Mid. Stained. In order that comparison may be made with other yean, Strict Good Ordinary off % Low Middling Stained li«ofl Good Ordinary liieofl we give below the totals at leadine ports for six seasons. On this basis the official prices for a few of the grades for 1897. Meeeipti at— 1901. 1900. 1899. 1898. 1898. the past week— May 25 to May 31— would be as follows. 2.012 2,172 508 Galve8'n,&o. 25,221 2,105 3,487 UPLANDS. Sat. Mon Tnes UTed Th. Fri. 3,332 4,739 New Orleans 18,046 11,082 10,049 14,167 24 60 551 471 120 iood Ordinary.......... Mobile 757 73,6 73,8 73, a 73,8 73ia 783 3,714 Savannah... 5,831 3,970 3,809 1,765 Uow Middling.................. 718,8 7i3,e 1 JtiddUng 8>4 8*4 ft ^ 8H 262 316 2,267 666 84 1,256 3,353 Ohas'ton, Ac. MfddUng 8»18 89l8 89l6 |3,8 17 620 *ood 328 50 31 479 WUm'ton,<ko lilddlingFalr 9 9 9 514 5,148 1,915 Norfolk 3,127 2,219 4,589 GULF. Sat. mon Tnes Wed Tk. Prl. 194 38 316 86 562 1,316 N. News, &o. - .. • . . . v> r" All others... Tot. this 4,222 6,154 wk. 58,271 32,269 28,304 2,269 5.802 7,730 34,254 9,851 1,542 14,878 Since Sept. l 7111,122 6352,511 8187,463 8474,303 6635,931 .M 46,213 for the week ending tms evening reach a total Of 49,883 bales, of which 17,328 were to Great Britain, 592 to France and 31,963 to the rest of the Continent. Below are the exports for the week and since Sept. 1, 1900, The exports W$$k Bndint May 31 Mxported to— Exports from— Ortat JTranee Brit'n. , 1901. rrom Sept. 1, 1900, to May 31. 190L Oonti- lotal Srtat tranet nent. Wt«k. Britain. Ojnti- 7ot«i. ntfit. 810,387 306,688 6,195 829,396 316,338 83,678 697,177 1,342,906 19,6ao 58,263 61,064 174.148 60,961 131,750 625,374 723.481 24,419 86,117 70,162 140.689 Sarannah Braniwlok 669 10.663 29,630 659 10.658 32,726 33,899 607,272 1,624,787 80.868 36,067 .... 91,698 Oharleston.... Port Royal.... 70.877 WilmlnKton.. Norfolk N'port N., &o.. 77.879 146,066 11.610 6,695 4,450 New York 3,8IK) Boston Baltlmor* 14 602 18 18,181 3,063 7,059 847,018 60 501 01 001 807,887 78.890 1,400 1.400 Philadelphia.. San Fran.. *o.. Total 'Total. i8«e.oo 88,198 .". Low Middling Tinged... GJood Middling Tinged Strict 283,913 8,899 8,114 46,950 1.108 3.840 68.693 883.439 18.205 28,681 609.153 810.941 119,840 6,001 66,933 17.388 6oa 81,063 49.883 8,788,346 688,443 8,431,779 6,908,667 16.676 317 81,080 86,913 8.185,163 678.353 8,732.005 6636.510 77,8 81,6 8>« 813,6 9I4 77i8 81,6 8'« 8is,e 9H 9>4 mon Tnes Wed 6\ 7% 6\ 7% 6\ 7\ 6\ 7^ 7'8 8I4 7'8 854 7^8 8I4 7^8 8I4 Til. Fri. Holi- 6\ 7\ day. 7'8 8H middling upland at New York on for each of the past 32 years have been as follows. 31 1901. ...0. 1900 1899 1898 1897 1896 1896 1894 8H 9 6H 6»i6 788 8 75,8 714 for 1893 ....0. 789 1892 77,6 1891 S'a 12B8 1890 III9 1889 1888 10 1887 117,8 1886 93is 1885. 1884 1883 1882 1881 1880 1879 1878 mabket and Spot Markbt Olobbd. Saturday ..IQuiet at Monday.... Dull Taesday... Dull Wednesday Quiet Thortiay Friday Dull Total... 0.1015,8 1877. 1 0.11% 1876 1876 10\ I2I16 1874 1873 lO'^a lliiia 1872 13 1871 III4 1870 1188 12 16 I , 181* 19»4 ! 36% 177e 221a I sales. 60* 600 18 8»s 8>« 8l3ie 914 Sat. Cow Middling May 77, fl 9J4 STAINED. Middling Z7" 8»3if The quotations Sab. Pass, Ao.. 15.733 Middling.... JtiddUng L^ood MTddling Vllddllng Fair 3xporl»d to— Oalveiton NawOrleani.. 13.887 Mnblla Paniaoola SJood Ordinary................. Uow FurnEES Sales of Spot Market Ol,08BD. ^ adv.. Steady port. A Oontraot. OonOontump.\ tracL I 350 total. 360 steady 22 30 |B'rly steady. iSteady aoo 222 SO 15 1,006 1,015 67 i.loo 1,617 Holi day. [Steady 850 d .. ' ; THE CHKONICLE. 1090 FuTUBKs.— Highest, lowest and olosingprlcef at New York. LXXU, [Vol. AT THE Interior Towns the movement—that is the receipts week and since September 1, the shipments for the week and the stocks to-night, and the same items for the foe the oorresponding period of 1899-1900 -is set out in detail below» 9 I D»^p»wD<»eBP(»«P(»^B»2P»»?pa — : : II III It 11 I • • • ><: I t » II I 1 I I I I • • I a • W U lit Y I • i I • t I I • I i I I • I • • I I • t « • I HH-<ai(»OMP I a? " I I I ' CiO Id Id I »3<I I I Ocb v>a d d 1 I CO ->- COM 0-4 -3^ -]«j I I I o CO ' a 00 -JO "OS -3<J -3-3 If' •^O oao I I d > d -JO CO 6© CO o 9 MO MOO I « *?"? ^M 10-3 -3-3 I d -J-3 Mt3 -o coco -3-3 COCO <l-3 -300 CC-" c>:C0 tS ^^ coco MtS too CO o6 CO oo cncr. I 0.0 -JOS COCj -3-3 -3 -3-a -30 -3 -J CO ?» I d d d i -3 to ^'? Ci:t<} H* _*• CSlF- d iP'tS 9 M w © I 1 9 j 19 9 o CO © CO © © d d I"? I*? . CO CO d I 9 Id Id ob-3 Id Id d *? 1 i , CO o 00 I d '2 M I d o I d en o a The Visible bUPPLY of Cotton 00 O -j © Id I ' to to © M © to-nlgtit, as O © CO Id 00 00 *? I ' ' «3 - ©. © wo MCBC;'. i(» CO ifc CB to I- © ^ M l^WM ©©toooeo** 00 (k aa h- to'to MMc^oit^i^M^to'S-ioo occo©©oo»cooocooac ©OOh-yilfi.MOlMwaWCOU'OCOC*'*' . -1 CO M MtO CO OtOCOM; COOO^-i© OMtO MM O — rf»j^_tO W©0 © 005 1*' x'f»- to CO *« m'©^ © c;< "en <»• to to oo cc co to oo mwikj «< ©If. oi 0>-MC»COOi4i-l^, ©K.COC^OO.^©33©iB.*k*-©OltOMCtO-jCJ:i,OtOCO©tOMOCO JO. tOMtOCHCOOCOMOtOCO COO VC^UlJ^ tOOOr- ©M Its <s • cw; to; 00. tnO' ©CO © co-ii«>'-3 i-'iiiif.. ototo «'©Oi-3 tCMeOvOtO-OOD-aOD. en • M--©; •• • mmqdmi o'totoo O©Ot0. OM^tnitk ; M©©. l-l I ' Id ^1 COS M* to- -3 I ' © Oi oo; O, a. 55 ; , I C0O1' cp'o -3C0 e^-j M l-l © ©CO i^cneoMODto m i^ ©00©-JM wC2 ^'t^cicto OC0#.co00©O©CrO© Si-J ,tO i' \ ta ©; COl^OO cto©.^- odowocm ©oo4»©oifkit.. coooaootocn. ; 9r CO 00 O o © © made up to: © Kl». M © . ©© 1^ p©MtO M M CO J^Oj-" i^^i^ *9 h-MJ COO'OS. to'iftlow *>« to M *.Vj :;>"J- bo CO r'^ cc co « m m aoif>.; cccom; ton^ cc to -1 CO M - CO en ^ © © © <- O O en (X en 00 © o ^9M' a-109. bS©. cc©«too»-0'OCyco»3MMi(^0©i-.;n>-.-m * 1, I toy 1899. 1898. 1901, 1900. 8took at Liyerpool......baleB. 759,000 556,000 l,4i0,000 1,170,000 Stock at London 5,000 3,000 5,000 7,000 Total Great Britain stock. 7t>6,000 561,000 1,443,000 1,176,000 Stock at Hamburg 20.000 16,000 27,000 12,000 Stock at Bremen 207,000 314.000 305,000 286,000 Stock at AmBterdam... 3.000 1,000 2,000 Stock at Rotterdam... 300 300 200 300 Stock at Antwerp ,-... 5,000 4,000 9,000 3,000 Stock at Havre 216,000 179,000 191,000 204,000 Stock at Marseilles 3.000 4,000 8,000 4,000 Stock at Barcelona 63,000 92,000 93,000 99,000 Stock at Genoa 40,000 61,000 70,000 38.000 Stock at Trieste 6,000 26,000 9,000 14 ,000 Total C!ontlnental stocks 532,300 091,300 744,200 668,300 Tetal European stocks.... 1,298,300 1,252,300 2,187,200 l,843,3o0 India cotton afloat for Europe 70,000 48,000 107,000 109,000 Amer. cotton afloat tor E'rope. 214,000 188,000 176.000 234,000 E)?ypt,Bra2U,&o.,aflt.forE*pe 23.000 19.000 18,000 22,000 Stock in Alexandria, Egypt... 170,000 122,000 153,000 162,000 Stock In Bombay, India 690,000 320,000 679,000 555,000 Stock In United States ports.. 473,636 262,582 675,102 452.012 Stock In U. 8. Interior towns.. 389,298 152,918 358,175 199,794 United States exports to-day.. 10,928 4,622 15,139 19,374 Total visible supply 3,239,162 2,369,422 4.368,616 3,596,480 Of the above, totals of American and other descriptions are as follows: American — 448.000 1,354.000 1,076,000 661,000 681,000 623,000 " 183,000 176,000 234.000 26 2,f.82 675,102 452.012 152.918 358.175 199,794 4,622 15,l.S9 19,374 ..2,165,862 1,717,122 3,259,416 2,604,180 626,000 452,000 American afloat for Europe. 214,000 United States stock 473,636 United States interior stocks. 389,298 United States exports to-day. 10,928 bales. . . Total American Ea$t Indian. Bratil, Liverpool stock M CD i(^ 00 cable and telegraph, Is as follows. Foreign stocks, aa wel) as the afloat, are this week's returns, and consequently all foreign figures are brought down to Thursday evening, But to make the total the complete figures for to-night (May 31), we add the item of exports from che United States, including in it the exports of Friday only. Liverpool stock Continental stocks © , ' hSCO oo oo oo oo oo oo oo oo MM C0||^ 00 CO 00 00 ©M CO O© CO to ©CO Cnco OkS to© |^» oo> it^to © I 1 oo ©OD *>• i^'-m; (Booooootnc^; ©to©#kiik(o • -30 ,-1 CJ> •<-tO; ; OB-3 ,-, itk cji'^so; co!< oo oo OO OO OO oo oo ©c^ 6© M© coco ©© ©© oo OiCO ato ©CO COM tOMMM CO oi _. ,^ i^uioio©© to©aai^M © ,_no 00 1^ o © to © 18 c © © W © W 00 OD_C to M_-3 CC 05 O OE o> Ojt^r^ ©tO!OCOC;<00ai<v O©I^OaDlf>•O0CCOOOMC0C0l(iO:^l(»OMQ0C0l^>-C0C0CC0C;<O ©a 1 • ' 'oilBV<ico'tD©oo'tolo'cc"i(^toVVjTcVlt O'Vcoa/oooo'cco'orCT tOOD|fc.<|toO-'l-'lw*'OCCCO— ^00DC^:l^-C000-]OC^l^lfc.-J^3COtI^ to; *« ii>a< AvanoH' *^l J> IB to M ©1000 MCOp-" I I Ol CO cf I . ©i^«caotsifto«OMODaMh-Mi"tscoMccMoococoi«>-ooaoc;i© -3<i -J-3 tSO I . MMI—OI OMtOMtOO* -3 m'cOCO "m tOit^oooi;kU>c<:©cooccoMtocoooco©tOii^ototai(^i^-i 1^1^© coooi f-i lb 05 ! . d o<x d . 1^1 <I00 OO O-l 0-3 -3 -J -J -4 M CM -© -jce -jno -1 00 ©o ©M 6o vco tco MOO Ml^ QCO © -3© o© o© -3© -30 oo oo OO OO © ©CO ©to CO ©CO ©6 CO to ob-i -3© -j© i^co ts© MCB coo 00^ wo M© ©u d d d » d O O -1-1 OO oo OO OO oo oo -JO OO ©© © CO O© ©6 CO ©© coco CD -3 COhS o cow -q-3 tog. W05 O -3 oo § X] 1 -a -J I -3-3 €> d ^<J vco ecu -3K1 I I cro ~30 -3-3 I d I »10D c' d 1^ OiOD d ^ H" d I I »J»1 m6 MM coo OQO I CiCD ^^ <J<J <J-1 oo CO oo -J -J I HO CO 00 00 The above totals snow that the interior stocks have deceased during the week 26,329 balee, and are to-night 236,380 oales more than at same period last year. The receipts at all 'owns have been 1 ,007,683 bales more than same week last year. Overland Movement fob the Week and Since Sept, 1.— *¥^e give belovv a statement showing the overland movement or the week and since Sept. 1, as made up from telegraphic sports Friday night. The results for the week ending May 31 and sinoe Sept. 1 in the last two years are as follows^ 1900-1901. May . J^~ Continental imports past week have been 124,000 bales. The above figures indicate an increase in 1901 of 869,740 bales as compared with same date of 1900, a loss of 1,129,454 bales from 1899 and a decline of 357,318 bales from 1898, 31. Week. Shipped— Via t)t. Louis. Via Cairo 7iaPadnoah 1899-1900. Since Sept. 1. 6,250 3,337 817.978 222,682 360 481 67,500 129,874 102.560 256,995 Week. • VlaOlnolnnatl Via other routes, &o 1,817 1,983 Total gross overland Oeduet $hipm«ntt— Overland to ST. Y., Boston, &o. Between Interior towns. ....... Inland, Ac, from South 14,228 1,J92.690 3,578 644 3,i>89 Total to he deducted Since Sept. 1. 6,439 1,348 815,567 222,079 476 562 11,635 12,810 205,623 131,946 305,129 a,l01 Via Bock Ipland.. Via Loulsvlhe.... ••••» 1,746 10,571 1,704,779 412,331 97,741 72,446 3,051 115 516 318,325 74,011 91,618 582,518 3,681 483,954 Leaving total net overland* 1,010.172 6.890 1,220,825 movement by rail to Canada. The foregoing shows the week's net overland movement this year has been 6,417 bales, against 6,890 bales for the week in 1900, and that for the season to date the aggregate net overland exhibits a decrease from a year ago of 210,653 bales. * Including 1900-1901. <»e 133,000 108,000 86,000 94.000 Londonstock 7,000 5,000 3,000 5,000 Continental Stocks 80,300 80,300 63,200 45,300 India afloat for Europe 48,000 70,000 107,000 109,000 Rgypt, BrazD, Ac. afloat 23,000 19,000 18,000 22,000 Stock In Alexandria, Egypt. 170,000 122,000 153,000 162,000 Stock In Bombay, India 590,000 320,000 679.000 555,000 Total East India, Ac 1,078,300 652,300 1,109,200 992,300 Total American 2,165,862 1,717,1'<:2 3.259,416 2.604,180 Total visible supply.. .....3,239. 162 2,369,422 4,368,616 3,5i»6,480 Middling Upland, Liverpool.. 438(1. 42932d. 39 ed. 313s2a. Middling Upland, New York.. 90. 6190 8>>i0. 6Ho. Egypt Good Brown, Liverpool 75,«d. 65ied. 57,Bd. 4i3ied. Perav. Rough Good, Liverpool 7isd. 7iied. fi'ed. 6'8d. 4i4d 5i4d. Broach Fine, Liverpool SDgd. 3i7a2<i. Ilnnevelly Good, Liverpool... Aiied. 4iBifld. 31982d, 3982d. I In Sight and Spinnere' Takings. Aeoelpts at ports to May overland to May 31 Southern consumption to Week. 31 Sfet May 31. Total marketed Oame Into sight during week. Total in sight May 31 Decrease during week. Movement into sight Since Sept. 1. Week. Since Sept. 1, 68,271 7,111,122 25,304 6,3.=.2,51l 6,417 1,010,172 6,890 1,220,836 29.000 1,114,000 32,000 1,173,000 93,688 9,235,294 64,194 8,746,336 26,329 844,671 * 18,064 190,265 nterior stocks In excess. i o rt h'n spinners tak'gs to 1899-1900, May 31 46,130 67,359 9,579,965 8,656,071 31,484 1,809,628 5.691 2,160.479 • 1899 1898 1897 896.... bales. in^ previous years. Week. 63,818 53,830 24,164 31,894 1898-99 1897-98 1896-97 1895-96 Since Sept. 1. bale8-10.712.959 10,669,736 8,205.625 6,808,876 . June 1, THE CHRONICLE. 1901.] Quotations fob Middung Cotton at Othbb Markets,— Below are closing quotations of middling cotton at Southern and other principal cotton markets for each day of the week. May 31. Oalveston. New Orleans MobUe Bavazmah... Obarleston.. Wilmington. Norlolk Boston Baltimore . Philadelphia Aag^Bta..... Memphis Bt. Mon. gatur. LoolB WedruM. 71118 7\ 7«i 758 7^16 788 7i« 7i« 7«i 7?i 8l8 8 8>« 8 79l8 7iii« 7iiia 7I>8 7«ie 7'« 77,6 7»« 7^ 7% 7\ 7H 7^ 7% l> 7i'ie Cincinnati.. 7\ 7ifl 8I4 8i« Sin Hoaston Loalsvllle... Tuet. Thun. 7i3ia 7«i 708 71a 7^ 7\ 8»4 8% 8>« 8 7»8 7lii« 8i« 8>a 8 709 8 788 7"i« 7"l6 Fri. 7% 788 7'u 7i« 7% 734 8J4 8ie 8i« 8 788 71I16 7I818 V> 7''8 7i«ie 7% 7% 7\ 7liie 7"ie 7lii« 71I18 The closing quotations to-day (Friday) at other important Southern markets were as follows. Athens........ I Atlanta Charlotte 79)8 788 Oolambas.Oa. 7>fl Oolambas,MlBS Enfaola Little I Rook Montgomery... 7^ 7^ 7^ 7^ Nashville Natohei Raleigh Shrevepopt 788 7»ie 7^ 7''8 Weather Reports by TELEaBAPH,— Our telegraphic advices from the South this evening denote that as a rule the weather has been less favorable during the week. Rain has most localities and in districts of the G-alf and Atand at some points elsewhere the precipitation is claimed to have been excessive, resulting in some injury to There are also complaints that low cotton in a few sections temperature is retarding the growth of the plant, which is backward, Oalveston, Texas. There has been no rain the past week. The thermometer has averaged 72, ranging from 63 to 82. Month's rainfall forty-six hundredths of an inch. Abilene, Texas. There has been heavy rain on three days during the weak, the raiafall baing three inches and fifty-six hundredths The thermometer has ranged from 4(i to 86, averaging 67. May rainfall, six inches and seventy-nine fallen in lantic States, — — hundredths. Brenham, Texas.— Toe weather has been dry all of the week. Average thermometer. 70, highest 88 and lowest 53. Month's rainfall, three inches aid fifty hundredths. '^jCorpus Christi, rea;x«.— Rain has fallen lightly on one day during the week, the precipitation reaching twelve hundredths of an inch. The thermometer has averaged 71, the highest being 82 and the lowest 60. May raiafall one inch and fifteen hundredths. Dallas, Texas —The week's rainfall reached seventeen hundredths of an inch, on two days. The thermometer has averaged 69, ranging from 47 to 93. Month's rainfall four inches and forty hundredths. Henrietta, Texas. Rain has fallen heavily on two days during the week, to the extent of four inches and twenty -seven hundredths. The thermometer has ranged from 47 to 88, averaging 68. Month's rainfall eleven inches and forty-nine hundredths. Huntsville, Texas. There has been a trace of rain on one day of the week. Average thdrmometer 67, highest 85, lowest 49. Month's rainfall three inches and eighty-five hun- — — dredths. — Lampasas, Texas We have had rain on two days of the week, to the extent of six hundredths of an inch. The thermometer has averaged 66, the highest being 83 and the lowest 43. Month's rainfall, two inches and twenty-three hundredths. Longview, Tea-as.—There bai been heavy rain on two days of the week, the precipitation being two inches and thirtyeight hundredths. The thermometer has averaged 70, ranging from 48 to 91. Month's rainfall five inches and fifty-one hundredths. and twenty hundredths. The therranging from 51 to 82. Oreenville, Mississfppi.-The weather has been unfavorable There has been too much rain. for crops the past week. Vicksburg, Mississippi. The weather has been too cool and there has been too much rain. Crops, while having good stands, are grassy, and ten days to two weeks late. There has been rain on four days during the week, the rainfall being eight inches and forty five hundredths. The thermometer has ranged from 53 to 85, averaging 63. Helena, Arkansas.— The week has been too cold and cloudy. We have had rain on four days of the week, to the extent of eighty-two hundredths of an inch, and it now looks threatenThe thermometer has averaged 64 5, the highest being ing. to the extent of one inch mometer has averaged 73"7, — OLOSINO QOOTATIOIfS FOB MIDDLIHa OOTTOH ON- Week ending 1091 — Palestine, Texas. There nas been rain on one day during the week, the rainfall being one inch and six hundredths. The thermometer has ranged from 50 to 84, averaging 67. Paris, Texas. The weak's rainfall has been one inch and eighty-three hundredths, on three days. Average thermometer 68, highest 88 and lowest 47. San Antonio, Texas.— We have had rain on three days of the week, to the extent of one inch and fifteen hundredths. The thermomster has averaged 72, the highest beins: 93 and the lowest 52. Month's rainfall one inch and fifty-five hun- 78 and the lowest 48. Little Rock, .<4rfca7wa«.— Farmers are making headway with work and crops are improving. The week's rainfall reached The therfifty-six hundredths of an inch, on three days. mometer has averaged 63, ranging from 48 to 78. Memphis, Tennessee.— With the exception of rather cool nights the weather ha? been favorable for cDtton. There has been rain on four days during the week, the precipitation being eighty-eight hundredths of an inch. Tae thermometer has ranged from 47 to 82, averaging 62 '2. Nashville, Tennessee. It has rained during the week, the Averrainfall reaching sixty nine hundredths of an inch. — age thermometer 64. highest 85, lowest 45. Montgomery, Alabima.— There had been rain on two days of the week up to yesterday, during which the rainfall reached ninety-five hundredths of an inch. But since early this morning a severe storm with hail has prevailed, doing considerable damage. The crop is backward and progresses but slowly. The Alabama Agricultural Commi-sioner reports sales of fertilizer tags to date this season at 1,915,838, against 1,549,043 last year and 993,430 in 1899. Tan tags to the ton. The thermometer has averaged 69, ranging from 49 to 92. Selma, Alabama.— Crop has been somewhat retarded in growth by cool weather and excessive high winds. There has baen rain on two days during the week, the precipitation being eighty hundredths of an inch. The thermometer has ranged from 46 to 96, averaging 71. Mobile, Alabama. The weather has been unusually cool and reports indicate retarded growth. We have had rain on two days of the week to the exteot of sixty-eight hundredths of an inch. The thermometer has averaged 69, the highest being 86 and the lowest 50. Madison, Florida.— There has been rain on two days daring the week, to the extent of one inch. Average thermom- — eter 72, highest 88, lowest 58. Augusta, Georgia, —The weather has been abnormally cold la consequence of exceseive moisture grass is gaining the mastery. Rain has fallen on three days of the week, the rainfall reaching forty-nine hundredths of an inch. The thermometer has averaged 69, the highest being 91 and the lowest 51. Savannah, Georgiia.— Rainfall for the week thirty-eight hundredths of an inch, on three days. The thermometer has averaged 72, ranging from 55 to 90. Charleston, South Carolina. Rain has fallen on two days during the week, to the extent of one inch and five hundredths. The thermometer has ranged from 53 to 84, averaging 71. Stateburg, South Carolina. We have ^ had heavy rain on two days and light rain on one day of the week, the rainfall reaching three inches and fort}'- four hundredths. On one day the rain was accompanied by high wind and hail over limited area. Dry weather and sunshine are badly needed to enable planters to conquer the rapidly advancing grass. The temperature is now quite low. "The thermometer has averaged 69'5, the highest being 92 and the lowest 50. Greenwood, South Carolina —The destructive rains and cool weather have injured cotton stands. There is abundance of grass and too wet to work. The week's rainfall reached one inch and sixty-three hundredths, on four days. The thermometer has averaged 67. ranging from 55 to 79. The following statement we have also received by telegraph, showing the height of the rivers at the points named at for the season of the year. — — 3 o'clock May 30, 1901, and May 31, 1900. May — dredths. Ardniore, Indian Territory— haat night we had a rainfall of one inch and twenty hundredths. Dry weather is needed for farm work, which is backward. New Orleans, Louisiana.— Rg^m has fallen on one day during the week, to the extent of five hundredths of an inch. The thermometer has averaged 72. Shreveport, £out«iana.— Rainfall for the week ninety-five hundredths of an inch, on three days. Average thermometer 69, highest 85, lowest 50. Columbus, Missisiii2)pi.—We are having two much rain. There has been rain on five days of the week, to the extent of one inch and sixty-two hundredths. The thermometer has averaged 71, the highest being 89 and the lowest 53. Leland, Mississippi. There has been rain during the week, — 30. '01. May New Orleans... Above »ero of gau)?©. Above zero ot gauge. Above zero of gaage. Above sero of gac ge. Above zero of gange. jlemphls KaAhvllle Shreveport........ VloksbuTg 31, '00. Feet. 7-4 9-7 Feet. fl-4 179 108 25 15 5 4-4 21-9 178 M&NOHBSTEB MARKET,— Our report received by cable to-night from Manchester states that the market is quiet for both yams and shirtings on account of the holidays. give the prices for to-day below and leave those tor previous weeks of this and last year for comparison. We 1900. 1901. 8>4 <6t. BKirt f^oWn ,_. __ 8>« lb$. SKxrl- Ootrn 32« Oop, ing$, eommtyn. Mid. *** y'*f- ingt, common Mid. rte^t. Tv)Ut. Upidt toflnett. Upldi toftmtt. d. d. Ap.26 7lii„»8^ B. 5 Mays 7»* W84 5 " 10 76i8 ©838 5 " 17 7>4 «898 5 " 24 7>8 08>4 5 " 31 7i« 1»8'4 6 d. 8. d. 3 2 »7 07 11 1 1 1 t»7 9 9 9 9 1 07 07 07 10>s d. d. d. 48is2 8S,s»9J« 47,8 '33ig99 4il3.>8ii8»9 41I39S 99 4ii32 7l3i,»8''e 4% 17^ 98\ 8. d. e. ,5 (ft 4'«f»8 5 !5 is 4>a98 3 3 d. «8 5 98 44 6 5 5 t»8 98 4I9 3 1>« d. ftiBsa 87.« 57)8 514 6 433sj . : .... THE CHRONICLE. 1092 Our Cotton Acreage Report.— Our cotton acreage report Parties will probably be ready about the 7th of June. business card desiring the circular in quantities, with their printed thereon, should send in their orders as soon as possible, to ensure early delivery. India (Jotton Movement fbom all Poets.— The reoelpte of cotton at Bombay and the shipments from all India ports for the week ending May 30, and for the season from Sept. 1 to May 80 for three years have been as follows1900-1901. Beeeipts at- Week. Bombay Since Since Week. Sept. 1. H'day- not 1898-1899. 1899-1900. 11,000 reo'd. Week. Sept. 1. Since Sept.l. 860,000 39,000 1,845,000 For the Week. Since September 1. Oreat Britain. Continent. Total. Great Britain. Continent. Total. Bombay— 1900-01.. 1899-00.. 1898-99.. "1,066 '3,606 5,000 Holiday —notrece Ived 75,000 4,000 4,000 439,000 14,000 8,000 79,000 463,000 Oaloatta— 2,000 2,000 3,000 1,000 2,000 29,000 19,000 20,000 32,000 20,000 22,000 1900-01 . 1899-00.. 1898-99.. All others— 1,000 1,000 7,000 2,000 2,000 13,000 7,000 17.000 20,000 9,000 19,000 1900-01.. 1899-00.. 1898-99.. 8,000 8,000 4,000 8,000 8.000 4,000 8,000 1.000 7,000 80,000 48,000 87,000 88,000 49,000 94,000 MO s'.obo 9,000 25,000 149,666 563,000 157,606 588,000 1900-01.. 1899-00.. 1898-9d.. Madras- Total aU1900-01.. 1899 00.. i'fiob 1898-99.. 11,000 9,000 12, Alexandria Receipts and Shipments op Cotton Alexandria, Egypt, May 29. Beeeipts (oantars*) . . This week.... ,. Since Sept. 1 1900-1901. 1899-1900. 1898-1899. 45.000 6,289,000 5.000 6,418,000 5,000 5,553,000 Thii week. Since TMi Since TMi Sept. 1. week. Sept. 1. week. 290,000 s'ooo 266,000 1,000 878,000 2,000 375,000 Since Sept. 1. 4,000 300,000 6,000 320,000 Total Europe 5,000 556,000 3,000 753,000 10,000 620,000 A oantar la 98 pounds in 1899-1900 1 Of tvhlota to America In 1900-1901, 45,103 bales; 67,659 bales; in 1898-99. 46,713 bales. Government Weeklt Cotton Report.— Mr. James Berry, of the Climate and Crop Division of the U. S. Weather Bureau, made public on Tuesday the following Chief telegraphic reports on the crops in the Southern States for the wf ek ending May 27 North Oarolit'a.— Minor features of crop conditions this week were overshadowed by Immense damage done to land and crops by heavy rainfall Tuesday and Wednesday, and subsequent floods; unusually large area In lowlands in cotton submerged; uplands badly washed; stands of cotton injured; uninjured crops doing well, but very grassy; farm work stopped. South Carolina.— Rainfall ranged from 2 to 10 Inches and caused much injury to lands and crops by flooding bottoms and washing hillsides; cotton now up to good stands and general condition Improved, but needs cultivation; blight has appeared on Sea Island. Georgia.— Land and crops badly washed in north sections by recent heavy rains; marked Improvement in middle and southern Beotions; oroDS growing vigorouslj; cotton variable In condition, but general : outlook more favorable In southern portion than elsewhere. Florida.— Copious to heavy rains; cotton well worked, free from grass and fruiting. Alabama —Rather cool; rainfall ample; cotton much improved; most of replanted up; stands fairly good; chopping well advanced. M188I8MPPI.— Rainfall excessive in west-central counties, ample elsewhere; all crops much Improved; replanted cotton ap to fair stand in south; chopping general; warm, dry weather needed. Louisiana.- Good showers in northern, lighter and more scattered in central portions; drought conditions continue In southern parishes; fields clean; conditions of all crops improved where rain tell; cottou doing well. Texas. - Week opened clear and warm; local rains 24th and 25th followed by unseasonably cold weather; cotton well cultivated, but plant small and irregular; more rain would be beneficial except in scattered localities Arkansas.- Light rain, fairly well distributed throughout State; cool weather retarded growth of cotton; chopping progressed rapidly; stand poor in some localities; others fair to good. Tennessee.— Good rains; all crops improved; great damage from floods in several eastern counties; late-planted cotton coming up well; stand of cotton generally good, bat in seme sections still poor, chop- ping begun. MissoiBi.— Cool and continued dry, except good Showers In few northern and eastern counties; cotton doing well. Oklahoma and Indian Terkitobies.- Cotton being cultivated and making good stands. These reports on cotton are summarized by the Depart- ment as follows: A very general improvement in the condition of cotton is indicated The growth of the crop over the northern portion of the central and western districts, however, has been slow, and large areas In the Oarolinas have been submerged. Jute Butts, Bagging, &c. There has been practically — bagging during the week under review, and prices are unchanged at 5^ c. for l^lb. and 6^c. for 2 lb., standard grades. Car load Iocs of standard brands are quoted at 6i-^@6^c., f. 0. b., according to quality. Jute butts very dull, with prices nominal at 13^@ l%c. for paper quality and 2^@23^c. for bagging quality to arrive. nothing doing in jute week, we omit giving the usual extensive details of the overland movement. Below, however, we present a synopsis for the month of May and for the nine months ended May 31, for three years. this 1900-01. Gross overland for May Gross overland for 9 months Net overland for May Net overland for 9 months ..bales. Port receipts m May Port receipts in 9 months Exports in May Exports in 9 months 58,087 1,592,890 17,231 1,010,172 293,397 7,111,122 437,769 5,908,567 473,636 1,809,628 1,114,000 1899-00. 50,285 1898-99. 91,294 1,703,611 1,833,560 26,607 45,879 1,219,997 1,243,935 139,393 230,180 6,347,618 8,177,110 261,395 312,478 6,522,417 6,808,040 262,373 685,526 2,157,836 2,085.963 1,168,000 1,016,000 cluded in net overland) 82,419 93,014 89,041 15 Burnt North and South in 9 months 14,839 727 Stock at North'n Interior markets J'ne 1 9,343 10,247 9,917 Came in sight during May 332,289 239 000 319,959 Amount of crop in sight June 1 9,579,965 8,648,615 10701045 Came tn eight balance season....... 790,944 584,338 Total crop 9,439,559 11235883 511-37 Average weight of bales 50330 51047 — Agricultural Department's Report on Acreage, &c. The Agricultural Department at Washington issued to-day its report on cotton condition and acreage. The following is what it says on the subject of acreage: The Statistician of the Department of Agriculture estimates the total area planted in cotton at 27,532,000 acres, an increase of 2,111,000 acres, or 8"3 per cent, over the acreage planted last year, and of 2,498,000 acres, or 10 per cent, over the acreage actually picked. The increase in States where the area planted and that picked last year wfire practically the same is 10 per cent in North Carolina, Florida and Arkansas, 9 in Georgia and Louisiana, 7 in South Carolina, 14 in Tennessee, 25 in Oklahoma, 20 in the Indian Territory, 18 in Virginia and 12 in Missouri. In Alabama the increase is estimated at 9 per cent over the acreage planted and 12 per cent over that picked In Mississippi at 2 per cent over that planted and 79 per cent over that picked, and in Texas at 8 per cent over that planted and 10 per cent ; xports (bales)— lo Liverpool To Continent t Cotton CoNstmprioN and Overland Movement to June 1. consequence of the crowded condition of our columns — In Portstsckson May 31 Northern spinners' takings to June 1.... Southern spinners' takings to June 1 Overland to Canada for 9 months (in- Mxporia from— [Vol. lx:xii, over that picked. The following is the report of the Department on condition: The average condition of the growing crop is 81 '5 per cent, as com' pared with 825 per cent on June 1 last year, 85-7 at the correspond ing date in 18ii9 and 86"4 per cent the mean of June averages of the A condition of 81'5 per cent is with one exception the lowest June condition in 20 years. The condition by States is as follows: North Carolina 87 per cent; South Carolina 80 per cent; Georgia 80 percent; Florida 88 per cent; Alabama 76 percent; Mississippi 82 per cent Louisiana 80 per cent Texas 84 per cent Arkansas 81 per cent; Tennessee 78 per cent Oklahoma 88 per cent, and the Indian Territory 85 per cent. last ten years. ; ; ; ; Mr. John Hyde, the statistician, informs us by telegraph " Report of cotton condition is based on schedules that returnable May 20th, somewhat modified by later reports " received from State and traveling agents The above statement of condition, compared with the reports for previous years, is as follows. agricultural depaktment's JUNE condition reports. : June Condition. 1901. 1900. 1899. 1898. 1897. 1896. 1895. 1894. 1893. 1892. Virginia. . .... 87 80 No. Car.... Car Georgia . 80. Florida. . 80 . . 88 Alabama.. 76 Mississippi 82 80 81 81 78 Louisiana Texas Arkansas.. Tennessee. Missouri . Oklahoma. Indi'n Ter. . .*. 88 85 94 86 85 89 88 87 85 88 71 91 86 94 75 84 79 87 86 88 88 86 78 81 90 80 85 90 81 84 86 86 85 89 76 89 91 89 89 96 90 96 82 80 87 91 84 87 84 90 99 97 95 85 103 104 94 92 102 81 76 84 87 83 77 90 72 85 92 67 61 72 82 92 85 88 85 79 89 87 89 |8, 70 US 97 84 83 76 92 88 91 95 83 88 87 98 82 86 87 82 89 92 95 94 97 78 96 .... 100 .... 79 88 91 87 89 91 91 82 81 75 90 • Bh .... 800 88-3 85-6 85-9 New York Cotton Exchange -Thirty first Annval Meeting. The thirty-first annual meeting of the New York In their Cotton Exchange was held on Tuesday, May 28 joint report, President Hubbard and Secretary McDougall remark Average. 81-5 82-5 85-7 890 83-5 97-2 In presenting this report the board tenders its congratulations to the members upon the prosperous condition of the trade after a seasop. of great activity and of wide variation in prices. The provisions of the by laws and rules governing the delivery of cotton and of the transactions between members have been thoroughly t^-sted by the events of the past season, and, with a few mii. or exceptions, proved the necessatisfactory. These have been corrected by amendments sity, however, of providing against interruption of delivery by reason of delwy of transportation by ice in tbe harbor during the winter, and of the destruction of cotton by fire after notice of delivery has been Issued, are recognized by the board. The by law committee now have these questions under careful consideration. An earnest effort was made to secure a reduction in the rate of taxation imposed by the War Revenue Act. An amendment to that effect passed the Senate but failed to become a law, having been eliminated in the final meeting of the Conference Committee of the House of Representatives and the Senate. This tax Is so onerous and unjust that it should be continually brought to the attention of our representatives In Congress with a view of leoorlng Its leduoUon or repeal. ; , June THE CHRONICLE. 1901.] 1, careful oonslderatlon of the report of the executive oommlttee show that the committee have endeavored to place before the members the earliest Information with the belief that money so expended was well expended for their best Interests. The work of the committees of the Exchange durlntf the past year A will has been most arduous and too much oominendatlon cannot be given to their membprs for their attention to the Interests of the Exchange and of th«-lr fellow members. ,». ^, ^ ^ _. „ The report of the war house and delivery committee shows that for l.'59,432 bales, from Is.sued certificates and Inspected there were the same period cerMay 1 1900, to April 30. 1901. Inclusive; during tificates for 122,855 bales were canceled, leaving certificates outstanding on April 30, 1901, for 60,265 bales of cotton. The reclamations on the bureau have amounted for the year to iJOSO 33. and the balance on hand In the guaranty fund Is $61,562 03, against $45,274 76 last year. ^ During the past year 9i memberships have been transferred and 82 new members have been admitted. The total number of memberships outstanding rem Ins at 4.50. , , . ^^ .... , With deep regret we have had to record during the year the loss by P. March, Frank May namely: 10, death of peventeen of our memberp, 1900; Louis Waetjen, May 14, 1900; James D. Eakin, May 22, 1900; Adon Smith, June i:<, 19i 0; John O. Graham, .lune 21, 1900; A. H. Morris, June 23, 1900; Julius Weber, June 27. 1900; Jacob (i. Cohen, July 19, 1900; Samuel Sondhelm, August 28, 1900; Andrew ,1 Eocles, . ..,,„„ September 7, 1900; Albert Hoffman, October 1, 1900; Robert L Riuntree, November 14, 1900: Gustavus O.Hopkins, Decembsr 12, 1900; O. K Wallace. January 0. 1901; Ovrus G. Beebe, January 28, 190'; Herbert F. Munn. March 2i, 1901; Anthony W. Hogln, March 26. 1901. The Trustees of the Gratuity Fund report assets .'^107,?>76 49 and liabilities $66,375, leaving a balance to the crealt of the fund of In view of the decrease of the Gratuity Pond, It may become necessary to limit the maximum amount of gratuity to new members to the amount collected. Such a provision would preserve the fund intact and provMe for the prompt payment of all claims upon It. The Treas-urer's report shows In detail the ordinary and extraordinary expenses of the building and of the Exchange. In consequence of the expenditures for repairs and Improvements the balance on hand Is this year $11,747 28, as compared with *18,215 17 last year. The executive committee reports all the offices In the building are rented, yielding an estimated rental of $50,000, against the actual rental of $56,538 2H last year, which we think luay be regarded as very gratifying In view of the constantly- increased competition. It will bo seen that the committee estimates there will be a surplus for the coming year from the building of $3,090 and from the Exchange *2,57i^, based upon the annual dues of $50; the total estimated prottts, $5,665. Shipping jnews.— as snown on a previoua page, the exports of cotton from the United States the past week have reached 49,883 bales. The shipments In detail, as made up from mall and tele^raphlo returns, are as follows: Tolal bal9$. Hbw Yobk—To Liyerpool, per steamers Canadian, 950 Taurlc, 562 To Hull, per steamer Buffalo. 1,887 1,512 1,887 La Qasoogne, : 417 To Bremen, per steamer Kaiser Wlihelm der Qrosse, 45.. .. To Hamburg, per steamer Pretoria, 134 To Antwerp, per steamer British Queen, 550 To Christiana, per steamer Arkansas, 100 Marco Minghettl, To Genoa, per steamers Bolivia, 1,154 To Havre, per steamers La Bretagne, 175 592 4.'S 134 550 100 2,229 10 1,075 To Japan, per steamer Aragonla, 10 BTbw ORLEANS—To Liverpool— May 27— Steamer Collegian, 13.397 13,397 To London- May 30— Steamer Wllberforce, 500 To Bremen— May 31— Steamer Hermann. 8,534 To Antwerp— May 29- Steamer Otanez, 650 May 28 To Rotterdam May 27— Steamer Llandrindod, 2 —Steamer Louise, 150 To Genoa-May '24— Steamer Ogono, 6,397 PBN8ACOLA— To Leghorn— May 31— Steamer Lealta, 559. Savannah— To Bremen— May 31 — Steamer Arlington, 9,108... To Hamburg- May 28— Steamer Nordkap. 1.133 To Rotterdam- May 20 Steamer Nordkap. 250. To Antwerp— May 31— Steamer Arlington, 161.., -,18. Newport News-To Liverpool— May 30—steamer BOBTON-To Liverpool— May 24 -Steamer Ultonia, 14 To Yarmouth - May 27— Steamer Boston, 50 Baltimore— To Bremen— May 29— Steamer Frankfurt, 401... To Hamburg— May 24— Steamer Belgia, 100 Sam Francisco- To Japan—May 28— Steamer America Maru, 1,400 Total Ootton freights at New as follows. 650 152 6,397 Tm<«. IfMfnet. Thurt. m. 11 11 10 10 10 20921 20321 20<r21 20921 20921 e. 21 21 20 32 21 30 32 20 20 32 21 20 20 32 21 20 20 32 Hamburg e. Amsterdam e. Rotterdam e. 21 W 18'3>19 Antwerp..... e. 18®19 18919 18919 Ohent, v. Antw'p.c. 25-26»« 25-26»« 25-26)9 26-261S Reval, v.Br-Hamc. 37 37 37 37 Do Do V. Hall...c. 32 32 32 pi 82 21 18919 25 26>s 37 32 V. at. Pet.e. 16»17 17919 16917 16a>17 30 30 30 30 30 Quotations are cents per 100 lbs. or fraotlona of a penny per lb. LlVEBPOOL. By cable from Liverpool we have the f oilov ing statement of the week's sales, stocks. &o.. at that Dort Oenoa c. Trieste c, 17319 — May 10 Sales of the week bales. exporters took... Of which Of which speculators took. Sales American Actual export.... Forwarded Total stock— Estimated Of whlob American— Est'd. Total import of the week Of wliloh American Ajnount afloat Of whioh American Market, } Moderate demand. demand. 6,000 5,000 4,000 600 400 400 Firmer. 1:45 p. u.\ Mid, Upl'ds. Limited 439 418s2 Sales Spec* exp. 'i Fuluret. Steady Miu-ket, 1:45 P. If. I Market, 4 p. M. I ai Barely 2-64 (a 8 64 steady at advance 3-64 dec. J Steady. f Qnlet. Very Steady. steady. S of futures at Liverpool for each day are given Prices are on the basis of Uplands, Low Middling clause, unless otherwise stated. The prices below, Tuea. inon. SWLt. May 25. May May 27. 28. Wed. JThnr*. May 29 i May 30 Frl. May 31. 1:45 4 1:45 4 1:45 4 P.M. P.M. P.M. P.M. P.M. P.M. d. May May- June... J tine- July... cq July-Aug.... a a> £ Aug. -Sept... Sept ,L.M.O. Oot.,G.O.C. n u o< -S• Oct. Nov.... Nov.-Deo... Dec- Jan.... J an. -Feb.... Feb.-Moh..- d. 4 19 4 18 4 19 4 18 4 19 4 18 4 194 18 4 15 4 13 4 15 4 13 3 62 3 6^ 8 60 3 61 8 59 3 5;^ 3.'>9 3 59 3 59 3 59 d. d. d. 4 IS 4 15 4 16 4 14 4 lb 4 16 4 14 4 i5 416 4 15 4 15 4 16 4 10 4 114 It 4 10 4 11 4 11 3 59 3 3 68 3 3 57 3 3 57 3 d. 4 16 4 16 4 16 h 4 lb 4 11 4 U a« 9 60 3 61 3 61 5" 3 59 3 .''9 57 3 .=.7i3 57 57 3 57 3 57 3 57 3 58,3 58 3 68 .... -..-1 BREADSTUFFS. Friday. May 31. 1901. volume of business has been transacted in the market for wheat flour. The demand, however, has not been general, jobbers as a rule entering the market only when A fair forced to by depleted stocks. Standard to choice spring patents have sold in moderate lines and the range of prices has been from $4 05 to 4 15. Offerings of Kansas wheat flour have been limited and low-grade winters have been in small supply and firm, Rye flour has had a slightly better jobbing Corn meal has been quiet and easier. sale at steady prices. Speculation in wheat for future delivery has been without any particular show of spirit. The tendency of prices, nevertheless, has been towards a slightly better basis. Toe crop news, particularly from the Southwest, has not been of an encouraging character. More or lees complaint has been heard of lack of snfficient moisture and ravages by insects have continued to be reported. Dry weather in the South- 559 e. e. BaVday. Monday. luetday. Wed'day. Thund'y Friday. Spot. 9,108 1,133 Havre Bremen Liverpoool The tone of the Liverpool market for spots and futuree each day of the week ending May 31 and the dally closing prices of spot ootton, have been as follows. west also has been complained of. Statistical developments in this country have been of an encouraging nature to the market. Available supplies have been decreasing rapidly 2.';0 and this has had a tendency to hold aggressive selling 161 The European markets were closed early 18 in check. 14 in the week in observance of a holiday, and advices 50 from abroad have not been of a nature to have any 401 100 particular inflnence upon the market either way. Business in the spot market has reached only very moderate prooor1,400 tions, as exporters have been only limited buyers; prices have advanced with futures. To-day there was a moder49,883 York the past week have beei ately active and firmer market on unfavorable crop news. The spot market was quiet. The sales for export here and at Mon. Batvr. 500 8,54 109H 43,000 2,100 1,100 41,000 8,000 53,000 758,000 632,000 49,000 34,000 159,000 130,000 May 17 39,000 700 600 37,000 2,000 48,000 735,000 608,000 28,000 20,000 177,000 150,000 May 24. 40,000 1,100 1,400 37,000 2,000 75,000 749.000 619,000 91,000 78,000 121,000 99,000 May 31 17,000 1,100 300 15,000 5,0O0 33,000 769,000 e2a,ooo 48,000 42,000 109,000 84,000 outports were 50,000 bushels. OAILT OLOSIHO PRI0B8 OP NO. 2 BED WIBTEB IN NE^T YORK. Wed. Mon. Tuef. Thun. Fri. 8at. 82»« 8239 Gash wheat f. o. b 83ia 82 8\^ May 79''8 78''9 8OI4 July delivery In elev Sept. delivery in elev.... 75=^ 76i8 delivery In elev 79 81 79^3 S'^s 79»« 7^H 76^ DAILT OLOSIHO PRI0B8 OF NO. 2 SPRIHO IN Sat. Mon. Tuet. May delivery In elev 73''8 74 73?i July delivery in elev 7338 74 73 Indian corn futures have been quiet, but moderate advance in prices. Crop news Holiday. SOIq 77ifl CHICAGO. Vtd. Thurt. 74 HoU- 73% day. Fri. 74«8 7498 there has been a from the corn belt has been of a character to cause some apprehension among bear operators, continued dry weather being complained of. The crop movement also has been very moderate, and this, too, has been a strengthening factor. Business in the spot market here and at outports has been moderately active, exporters being freer buyers; prices have followed futures. To-day there was a steadier market on moderate buying. Dry weather in the corn belt was the feature. The spot market was dull. The sales for export here and at outports were 35,000 bushels. DAII.T CLOSraO PKIOBS Oaah com NEW TOBK. OP MO. 2 MTXEO OORH OT Tut*. Wed. Bat. Mon. July deU very In elev 4983 49»4 48^9 SeptdeUvery 48 f. May deUvery o. b In elev In elev.... 49% 49 48i« 48i8 49''8 49''8 48>e 48»fl TKur$. 50% 50 HoU- 483e 4838 day. Fri. SOH 49 49 DAILT OLOBINQ PBIOBS OP NO. 2 MIXBD CORN III CHICAGO. Tfies. Wed. Thurt. Mon. Bat. Fri. 42i« May delivery in elev 48>6 42^8 4338 HoU43^^ July delivery in elev 43Sa 44 43% 44% day. 44^ Sept. deUvery in elev.... 43% 43'8 44^ 44^ 44>s 1 THE CHRONICLE. 1094 Oats for future delivery at the Western market have received a moderate amount of attention. Prices for May delivery have showed decided firmness, making a moderate advance on buying by shorts to cover contracts with only scattered selling. Some talk of manipulation of July contracts also has been heard. Locally the spot, market has been moderately active at slightly easier prices. To day there was a quiet market. DAILY OLOSINO PRIOBB OF OATS IN NE1¥ YORK. coating market continues dull and featureless, while a quiet business is reported in cloakings at pravious prices. Dress goods have again been quiet and irregular and flannels and bl ankets dull and unchanged. Domestic Cotton Goods,—The exports of cotton goods from this port for the week ending May 27 were 2,828 pacftages, valued at |155,130, their destination being to the points specified in the tables below: Fri. 8at. Jfon. Tuet. Wed. Th>,rt S2i« 33 33 33 Holl33 No. S mixed In elev S3>4 S314 33 day. 33ifl Ho. 2 white In elev 33H DAILT OLOBINO PBIOBS OF NO. 2 MIXED OATS IM CHICAGO. Sat. Mon. T)i.es. Wed. TAMff. ^4 3OI4 2938 3014 Holi28 SCg May delivery In elev 2888 2858 elev 2888 In as^s 2858 day. delivery July 2668 2658 2638 2658 Sept. delivery In elev.... 26'4 prices quoted have been nomBarley has been quiet and unchanged. Following are the closing quotations: Nbw Yobk FIiOtlK. Fine Snrerflne Extra, No. 2 Extra, No. 1 Oleare Straights Patent, spring (Wheat 92 15 02 2 25 i»2 2 45 »2 2 65 ©2 2 80 93 3 40 •a>3 3 85 •»4 20 30 55 75 40 90 55 Patent, winter.... $3 70 City mills, patent. 4 10 Rye floor .superfine 2 90 Buckwheat floor Corn meal— 2 55 2 65 Western, etc Brandy wine floor in sacks sells at prices below those for 04 00 0. 0. 893«»91i« N'thern Dul., No.l 85i8»8738 Red winter. No. 2 8138»83i« Hard N. Y. No. 2. 8138»8ai8 Oats— Mlx'd,p.busb. 32 >« 93419 White 33 ®37 33 »34 No. 2 mixed 3312934I4 No. 2 white barrels.) Com, per bush.- c. 48 '»60i4 Western mixed No. 2 mixed iS^ltbOH Western yellow.. .....49J4*61 Western white 49%»51Jfl Rye, per boshWestern State and Jersey Barley—Western Feeding 54i3»60i« 68 O6O 55 ®63 Government Weekly Grain Report. — Mr. James 9 Berry, Chief of the Climate and Crop Division of the U. S. Weather Bureau, made public on Tuesday the telegraphic reports on the grain crops in the various States for the week ending May 27, as follows: Weather.— In nearly all districts east of the Rocky Mountains the week has been abnormafly cool, with excessive rains from the South Atlantic and east Gulf coasts northward to the lower lake region and a contlnuatiou of drought conditions In portions of the Missouri, Central and Lower Mississippi valleys and portions of Texas A large amount of damage has been done by freshets la Virginia, the CaroFrosts were of geueral occurrence linas, Georgia and Tennessee throughout the Rocky Mountain districts and in the Upper Missouri valley and upper lake region, causing slight damage in most of these districts. On the Pacitio Coast the wpek was generally favorable, except In California, where it was unseasonably cool, and rains caused serious Injury to hay and fruit. Corn.— Corn has made slow growth in the Central Mississippi and Ohio valleys, but in the Southern Stites a general improvement Is reported. In Iowa and NebrasKa the stands are good and cultivation Is in progress. Planting is generally tlnished, except over the northern portion of the Middle Atlantic States and New England, where this work has been much retarded. Winter Wheat.— Winter wheat continues In need of rain in the Lower Missouri and Central Mississippi valleys, but has experienced further improvement in the central and upper portions of the Ohio Valley, The Hessian fly Is causing damage in portions of Kansas, Missouri, lUinots and Michigan, and the crop hns sustained considerable injury as a result of heavy rains in Maryland, Virginia and North Carolina Harvestina: cimtinues in Texas and has begun in the East Gulf States. In California the wheat outlook is excellent except in the southern part of the State, but In Oregon It is less promising than previously reported, owing to the ravages of Insects. Spring-wheat— Spring- wheat is much in need of rain over the western portion of the spring-wheat region, but over the eastern), portion the condition of the crop Is promising. Oats.— The oats crop has improved In the Upper Ohio Valley, lake region and portions 01 the Upper Mississippi and Missouri valleys, but over the greater part of the two last-named districts It Is In need of rain. Harvesting is In general progress In the Souihern States. Tobacco. Transplanting of tobacco is In general progress in the Ohio valley and Middle Atlantic States under very favorable conditions. Plants are generally abundant, except in Kentucky, where they are small and scarce. For other tables nHoallr arlven here see vase 1065. Hf THE DRY "goods TRADE. New York. Friday, P. M.. May 31, 1901. Continued bad weather has again been an adverse factor in the dry-goods situation, with no other feature of sufficient importance to oflf-et it, buyers paying little attention to the somewhat firmer market for raw cotton, and there being no movement in raw wool of a nature to influence them. The Fall River mills are talking of further curtailment, but whatever influence that might have had upon the market has been reutralized by a reduction of 3 16c. in syndicate goods and its failure to indtice any demand from the general run of btiyers. The tone of the market continues dull, and the tendency of prices mostly in favor of buyers, even In heavy cottons, which have been in demand for export. New quotations are being made on prints for fall, showing lower some qarters. Woolen Goods. — There have been more indications of the supplementary demand developing in men's- wear heavy-weight woolens and worsteds than for some time past, and in some quarters fair re-orders have been reported. The demand is not, however, of a general character, and has run mainly •upon piece dyes of standard character in clays, serges, cheviots and the like. These goods are, as a rule, well sold up, and in less need of support than a number of other descriptions in which business has been disappointing and shows no present sign of improving. The market is thus in an irregular condition— firm for the best sold goods and weak for others. In the latter, fancies figure most frequently, and some of the business done has been at low prices. The over, 2,108 2 821 17,083 1,654 17,302 4,002 9,609 610 499 266 380 Total 868 1,102 110,487 7,857 17,779 18 821 265 678 60 4,330 26,522 2,552 2,828 86,804 2,168 Central America South America Other Oonntrles Since Jan. I 48 469 91 729 99 414 293 21 Mexico 2,201 10,868 1,562 5.536 19,834 8,536 181,614 of the New York exports for the year to date been $3,953,195 in 1901, against $7,475,149 in 1900. Buying of heavy brown sheetings and drills continues on China account, but in a quiet way only. Sellers meet the The value demand and in some instances have made slight conThe home demand is dull in an easy market. There has been no change in ducks and brown osnaburgs are dull and irregular. Bleached cottons are without change in quotations but a quiet demand is met at irregular prices. Wide sheetings dull and unaltered. Cotton flannels and blankets are slow and featureless. Denims are firmer in some quarters but demand continues quiet. Other coarse, colored cottons in moderate request and easy to buy. Kidfinished cambrics inactive and barely steady. There has been no change in fancy calicoes and only a limited business has been reported, Staples are occasionally reduced ^c. per yard. Percales are dull and irregular. Printed flannelets and dometa quiet. Gringhams show no change in either staples or dress styles. Print cloths have been reduced to the basis of 2%c. for regulars, about 150,000 pieces sold thereat but buyers still indifferent. Wide goods have slightly favored rea:lily cessions in prices. buyers. A Foreign Dry Goods.— quiet business in dress goods for fall has been reported. Fine grades firm in price. Silks and ribbons have been in moderate request and steady. Linens sell in limited quantities, high prices checking the demand. Burlaps show an advancing tendency, but demand quiet. Importations and ^ir^arebonMe TTltlidrawals of DrjrOooA* The Importations and warehouse withdrawals of dry goods ac this port for the week ending May 30, 1901, and since January 1, 1901, and for the corresponding periods of last year are as follows: R s H Sg s gSgg^S a B Si Si g: S; • t m 1 1 0: 1.^:1 B !; g ! S i i5 i « li : : : : : : : : : H s Siiril %v sMi •e »! V ... • 1 : 1 1 s M gSTgiSog Is.^lll 55 • : ^ S, to I— 1 ! r o> I 5: ! si; b; i hi a H a I V illli i t 1 1 iililT M — prices for staples in 160 Week. ties OBAIH. Wheat, per bnsn.— HardDuluth.No.l 1900. 27. Africa West Indies ® 60 1901. Mat Great Britain Other European China India Arabia 1»4 65 •»3 50 «2 to Week. Since Jan, Rye has been neglected and inal. [Vol. LXXII. cn <1 to 00 M OJ OS hO CO en oil-' coco KKX) -j«0 Is CO tscc <ji" 1 cocoaoooo toOOCOib. M HOOCfiOOtO ooenoeno t9 ODW l(^ 01 »1 ooiikMOoai coOi-'tOOO <x>to en 05 cols' 00 KJtO ts <I M o< ll^ OJ 13 K^e l-W cno CO 00 «f- (0 1- M eoaicoM><> ho-q »i;n loco 55 H ffl H tOM CO OD MO Ip. 00 en OS en 10 OS en en CO <I03COOM en en coco*' Ml^OCCOO m > OS co 00 00 MMMCOM n 000 MtO ots^i^a cniOCntStO n (0 X 0 M en encocoi->to 00; i-cnoa M tobsbsen'if 10 CO If .t-i (0 00 if -a CO h- if CO to CO<l to d us M n 00 cOHiyitsos Olf ODtOOS -'I-' M VOMOSlf 05 — 0:061-' M 00: If 00 CO OD M -g a OOfrSif MK) If OS CO n H 4 > to If to If If cno^n-i^i ^. cooscooco s Mcnovi^ CO hS nn ^ 00 DDiO, en^<kcoM COCJI i-«t3-3enco OiO ecco (OMOca 00(0 CO 0. coo> w r-" -3 M m w *<l no CO -•^V^ 00 CO OHO ootoi-'enco exiiuif.© 00s <1 -J to p-" tOM *-(£> M05 wta M bOOXIiCOO OOlf'ibOCO if'O'OCOfrS OOlfk l»kM»00 c;> 03(0 If en CD*' -J W 01 tSK) to wen M If -J IC CO H" MH" cnco^toeo ODO-aOD«4 CM QD-q <iK)oao coo 005 OOif rfkOCO a M Ck( 00 co-n oen<ioto .JIT' en too •X OS Cs >0 03 (0 06 OS ^00 M M M 10 M m CD If > en'B — M H lU tots t CO If If R •-co en If M OS ODM en cn j> M -•tOtOlf H" MM MMbSCOM CO en to -JOOiF'tOOl CO h«OD MOO -«« CO -J 00 to «3 1-1 CDOoenoen -JhStOOOS <»N)OC0((>. OS 00 TO iC -• » OS OS CO OsMCOvJOD CSS CO "-1 CO COtOMM as Vs cooDcenco 3 a 00 01 1— ff •^ to MMCnCO If f OOCOOOCO^qiW ' coot: 00 <lCOenMto *. to 01 tSMOOCO M OS^COlf enooMOoto T^ 0, CO .- CO »».. <-U^ COCO -to ^tOQOCOlO OSf-iCO^l *.^ fJt OD w ^ enM COCDif OOs Mif COCOM en CO CO Ot0-<1W !? ;s CO «• c» M s If »^ I-. OS to OD -J CO oooc.eo")n^ M M •r- ^^v* CO .-. Qb tf'COOOOtO 000 VCD «J COOOlf Oif !-• t X ? *^ £& d e » SI H en to CO If TOCO Q 5SS -J M0SOa:O OS •^l B If If >4 OS CO CnM MCO OS >1 CO CO If ee H n B 1^^ 1^ ^^^ujy^ <i 1^ 01 CO i^ OS oacDOsco to 3 z «| Oocoao-4 MMMOM if en 00 CO 5S OMent9-i K M M B to M Fl V, -J Ji CJl i^- If If to CO 00 rl ~JTO !© -a eo on p eoencoMoo d ;! ?;• sj en GO OS »l S! Men r- CO CD ejKioocD^lw s > OS CO>4CDXC0 M uu d 1?! ^ A If -J C^l -a 00 CO t- CO 'X K; OS H- ibM <io •10 X CO OS M (f <«encnos (0 001-' CO 00 <icj3-jcjicn (oooeoi-'*' 01 »j encoMi-iiO (XI DD M CC m s^ C»00tOif to CO CO CO ~J CO CO CD fcoie-toto CO CO as •^ If enotoif <i »s CO en -J CD CO en 00 1-1 tsco h3 - — en (% CO CO CO CC CO If CO OI m «o<iocnoo COtCOD OS CO coo CON tro »ao coo K) M M eo M ODCD H - OS 00 en OD *> 05 CO ^1 -rt OS'^f-tOCO.W CD tS en CO CO ^;^ eocotfooco to CnCOOOOCO oentocots <o«a (JXUI IS > z M tf CO iS rp <^ rv " 1 .^^ . — — : Jdne 1, lTikT£ mn City ^tvmwtm. — — : THE CHRONICLE. 1901.] 1095 Bank of Bemidji. Of this issue $10,000 are for water work extension, .$8,00o for street improvements and .$7,000 for a village hall and jail. Berlin, N. H.- Loan Authorized,— The Trea&xireT has been authorized to borrow $6,000 in anticipation of the collection Bond Calls and Redemptions. Allen Coanty,Kj.—Ccrrection.— Under theheadoi "Bond Calls and Redemptions" in this department on May 18, we stated that refunding bonds of this county to the amount of $170,000 had been sold to Faraon, Leach & Co and the First National Bank of Chicago, whereas we are advised by Co. that these bonds were sold to Messrs, Duke M. Farson them jointly with the First National Btink. Oar original statement came to us from cfBclal sources, but our informant evidently confused the names of the two Chicago firms. Bowie County, Tt-x.— Bonds Redtemed. This county, it is stated, has redeemed $10,000 court-house and jail boads. Cascade County, Mont.— Bond CaK,—Vincent Fortune, County Clerk and Recorder, calls for payment July 1 at the Chase National Bank, New York City, $110,000 7% bridge bonds, dated July 1, 1891, aid |20,0C0 1% cturt-house-site bonds, dated July 1, 1891. The official notice of this bond call will be found omong the advertisements elsewhere in this Department, & — Bond Proposals and Negotiations this week have been as follows Accomac County, Va. Bond Sale. —This county has sold an issue of $5,000 4^% court-house bonds to Rudolph Klty: of taxes. Boise City (Idaho) Independent School District— Bond Proposals will be received until 10 a. m., June 15, by the Board of Tmstfes, for $40 000 rt% 10-20-year (optional) gold high-echcol-building bonds, dated July 1, 1901, and $12,000 5% 10- 20- year (optional) gold high school-site-purchasing bonds, dated June 1. 1901. Securities were authorized at an election held Apiil 27,1901. They are in denomination of Interest will be payable f emi-annually at the office of $.5C0. the Diotrict TreaEurer or in New York City. A certified check for 5^ of bid, payable to the Independent School DisOffering. — must accompany propoEals. Temporary Loan The " Boston News Bureau" reports that the city of Boston has borrowed $1,000,000 from the Natidnal Shawmut Bank at about '6%. Loan was made in anticipation cf the collection of taxes. Bottineau County, N. Dak.— Bortd Offerinq. This county on May 14 voted to issue $25 OOO 5% 20-year court-house and trict of Boise City, — Boston, Mass. — jail bonds. Proposals lor these bonds will be received until June 21, 1901. Brainerd (Minn.) — School District.— Bond Offering. Proposals will be received until 6 p. M., June 3, by Mons Mahlum, Secretary of the Board at Education, for $10,000 4% Securities are in denomination of 20-year school bonds. Intel est will be payable semiannually. A deposit $1,000. of at least Hj% of the amount of each offer must accompany bids. — Brockton, Mass.— Loan Authorized by Counc I, The City bolte Co., Cincinnati, at 100'70. Securities are in denomiCouDcil has passed an order providing for a temporary loan nation of $1,0U0. Principal will mature June 13, 1911. Aguew School District, Saata Clara County, Cal. —5ond not exceeding $300,0.0. Broohfleld (Mo.) School District— Bond* Voted and O^erir- gf.— Proposals will be received until 10 A. ii., July 2, Sold. At an election held May 31 the issuance of $15,000 4% by the County Clerk, for $2.C00 5% 1 8- year (serial) echool These bonds have been sold at school bonds was authorized house bonds. Secuiities are in denomination of §250. Banking Brownlee Co. and the Linn County Bank, par to the Akron (Ohio) School District.— fiomd Offerir.g.-The Finance Committee of the Board of Education will sell at pub- both local institutions. Brookings, S. J)Ab.— Bond Sale.— On May 25 the $.50,000 lic auction at 10 A. M. June 7 an issue of .$35,000 4% coupon bonds. Securities are in df nomination of $1,000, dated June 5^ 10-20-year (optional) water bonds were awarded to the Trust Co., Minneapolis, at 104*51. For Interest will be payable semi annually at the First Minnesota Loan 7, 1901. Principal will mature description of bonds see Chronicle May 18, p. 999. National Bank, New York City. Bart County (P. O.Tekamah),Meb.—Bo7id O^eringr.- Pro$10,COO on June 7 in each of the years 1906, 1907 and 1908 and posals will be received until 12 m., June 21, by W. A. Moyer, $5,000 on June 7, 1909. Aucraiu, N. Y. ^OTid (SaZe.— This town sold an issue of County Clerk, for $80.COO 'S%% refunding bonds. Securities $8,700 3-40^ bonds, under date of May 15, 1901, to Seymour are in denomination of $1,000, dated July 1, 1901. iLterest Principal Bros. Co., New York City, at par. One bond, in denomi- will be payable semi-annually in New York City. nation of $700, will mature Feb. 1, 1903, and thereafter one will mature July 1, 1921, subject to call after July 1, 1911. Butler, Ohio.—Bond Sate.— On May 27 the $8,000 5% elecbond of $1,000 will mature yearly until all have been paid. tric-light-plant bonds were awarded to A. J. vSolomon, CoInterest will be payable semi-annually. Anuapoli?, Mil.— Bond Sale.— On May 28 the $72,000 4% lumbus, at 103154 and accrued interest. Following are the bonds were awarded to the Fredericktown Savings Institu- bids $9,252 35 Richland County Bank 18.050 CO tion of Frederick at 109 -521. For description of bonds see a. J. Solomon, Columbus 8ea8onKOud a, Ma?er,CiD 8.^58 New IstNat.B'k, Columbus.... H,011 60 Chronicle April 37, p. 834. Savings Bank of MansUeld ... 8,0t5 00l Atlanta, Go. Bond Sale. are advised by wire that Forjdescription of bonds see Chronicle May 11, p. 949. the following offers made May 30 for part of the issue of Butler County, Ohio.— Bcmd Sate.— On May 25 the $50,000 $200,000 S}4% 30-year gold water bonds were accepted 4% bridge bonds were awarded to Seasongcod Mayer, GermaniaSav. Bank..$2O,000@104-25 Marietta Tr,& BkK.Co..f50,0OC@103-05 Cincinnati, at 105 416 and accrued interest a basis of about lO.OOOte 103-0626 J. W. English Jr 3 •283^?. Following are the bids All other bids received were rejected. & — & — & 1 .'^S — —We : — I 1 & : Ayondaie(Ala.) School J)i»trict.— Bond Sale.—This dis has eold an issue of $15,000 6^ 30-year school bonds to John Nuveen & Co., Chicago, at par and blank bonds free of trie charge. Barton Heigrht?, Y a.— Bonds Fo^fd. — This town has voted by a small majority to issue $10,000 5% 30-year improvement bonds. Batavia, Ohio.— Bond Sale.— On May 25 the $6,000 4% 25and light bonds were awarded to the Milford National Bank, Milford, at 109*716 and accrued interest. Following are the bids 30 -year (serial) water : Milford Nat. Bank. Milford... $6,583 00 W. R.Todd *Co.. Clncinuatl. 6.366 00 Peder, Uolzman * Co., Clncin. 6.803 00 Seaaongood & Mayer, Clnoin.. 6,276 66 For description of bonds I | R. Kleybolte ACo.. Cincln ?6,X77 77 P. S. BrleKS 4 Co., Cincinnati.. 6,175 00 New Ist Nat. B'k, Columbus.. . 6,186 26 | Chronicle May see — 11, p. 948. ; . A Co., New l8t Cincinnati. 6,0»o 00 Nat. Bk., Columbus. . . . . . W. Hayes* Sons, Cleve... 5^,407 New Nat. B'k, Columbus.. 52,260 LamprechtBros.Co., Cleve.. 62.222 Farson, Leach & Co., Chic... 52,140 J. Isl . oo 00 00 00 W. K. Toad & Co., Clncin.... Feder. Uolzman <k Co.. Cm.... 61.625 61,680 P. 8. Briegs * Co.. Cincln 61.280 Second Nat. Bank, Hamllt'n. 60,866 00 00 00 oO For description of bonds see Chronicle May 11, p. 949. Butte School District No. 1, Silver Bow County, Mont. Bid?. —Following are the bids received May 21 for the |100,000 4^ 10-20year (optional) gold echool bonds : state Savings Bank, Butte. $100,200 00 Union Eank & Trust Co., $100.278 00 W. J. Hayes & Sons Oess Helena $l,o001ur expenses) John N uveen & Co.. Chicago.* 103,100 00 100,000 00 * We are advised that bid was not accompanied by a certified check, and that written bond was not satisfactory to the board. As stated last week, the bonds were awarded to the Union Bank & Trust Co., Helena. was Canton, Ohio.— Bonds Defeated. — At the election teldMay Bayfield, Wis. Loan Authorized. A special election held recently, at which a proposition to borrow $5,000 from the State trust funds for sewer purposes carried by over one hundred majority. Bellevne, Ohio.— Bond Sate. -On May 29 the $6,000 4% cemetery bonds were awarded to the Croghan Bank of Fremont at 104-316. Following are the bids ChoKhan Bank, Fremont tP,253 (0 Feder. Holzman *Co.. Cin.... $6,076 00 SeasonKOOd * Mayer, Cincln. rt.lia 00 W.J. Hayes* Sons, Cleve... 0,072 6o P. 8. BriKK8 SeasonKood & Mayer. Cin. ...$62,708 00 Denison, Prior A Co.. Cleve $62. 140 OO 52,435 66 OKlesby 4 Barnltz, Middlet'n 61,780 00 R. Kleybolte & Co.. Clncin. 6,061 60 For description of bonds see Chronicle May 11, p. 948. Bonds Voted. At a special election held May 28 a proposition to issue §10,000 city-ha 11 bonds "was voted upon and car- — ried by a vote of 443 to 154. Belvidere, 111.— Bond Sale.-Oa May 30 $1,3C0 6^ East Lincoln Avenue sewer bonds were awarded to the Second National Bank, Belvidtie, at 104-25. Following are the bids Second Nat. Bank. Belvldere. $1,261 00 Marshall Brothers, Belviderc. $1,826 10 People's Bank, Belvidere 1,347 50 1 | Securities are in denomination of $300 Interest will be payable annually. Principal will mature one bond yearly on March 1 from 1903 to 1906, inclueive. Beuiidji, Beltrami County, Minn.—Bond Sate.— This village ha^ sold an issue of $25,000 o% 15-year bonds to the 24 the proposition to issue $100,000 park-improvement bondJa was defeated by a vote of 5t;4 for to 2,215 against it. Carthage, N. Y.—Bond Offering —PTopoa&la will be received until 8 p. M,, June 17, by W. S. Schwartz. Village Clerk, for $6,000 4% "Auxiliary Steam Water Pumping plant" bonds. Securities were voted at the election held Sept. 25, 1900, They are in denomination of §1,000. dated July 1, 1901. Interest will be payable at the Carthage NaPrincipal will mature $1,0C0 tional BaLk of Carthage. yearly on July 1 from 1906 to 1911, inclusive. certified check or draft in the sum of $300, payable to the abovenamed Village Clerk, must accompany proposals. A Cascade County School District No. 1 (P. 0. Great Falls), Mont.— Bond OSering. — Proposals will be received until 10 A, M July 1, by O. S. Warden, Chairman of Boara of School , Trustees, for $60,000 A% refunding bonds. Securities are in denomination of $1,000. Interest will be payable January 1 1 at the office cf the County Treasurer in Great Principal will mature in twenty years from date of Bidders must satisfy themselves as to the legality of and July Falls. issue. the bonds before bidding, and a certified check or draft in — — —— 1096 TME — the amoant of $3,500, payable to the Chairman of the Board of Trustees, must accompany proposals. The notice of this offlcial bond offering ivill be found among the advertisements elsewhere in this Department, Bond Sale.— On May 27 the |63,000 S}4% 5-10 year (optional) bonds were awarded to Mason, Lewis & Co., Chicago, at par, accrued interest and a premium. For description of bonds see 18, p. 999. Chester (Pa.) School District.— Bond O/eriwfir.— PropoJune 12, by Joseph D. Oliver, Chairman of Finance Committee, for $125,000 S^% high school-building bonds. Securities are in denomination of Interest will be payable semi§1,000, dated July 1, 1901. annually. Principal will mature July 1, 1931. A certified check or draft, payable to the District Treasurer, for at Purchaser will least 3% of bid must accompany proposals. be required to pay accrued interest if any. thillicothe, Mo.— Bond Oi/ermff.— Open bids will be received until 3 P. M., June 6. by E. C. Orr, City Clerk, for $25,000 ii electric light bonds. Securities are in denomination of $500, dated July 1, 1901. Interest will be payable semi annually at the office of the City Treasurer. Principal sals will be received until 8 p.m., mature $5,000 in five years, $5,000 in ten years, §5,000 in and $10,000 in twenty^years. A certified check for $500 must accompanv proposals. Cincinnati, Ohio. Bid Rejected— Bond Offering.— Only one bid was received on May 23 by the Board of Public Service for the $50,000 33^^ bridge-repair bonds, and that was a joint offer of 101*75 made by the Atlas National Bank, the Western German Bank and Rudolph Kleybolte & Co., all of Cincinnati. This bid was rejected by the board and the Clerk directed to re-advertise the bonds for sale. Proposals will fifteen years are therefore again asked for these bonds, this time until 12 June 26, by Geo. F, Holmes, Clerk Board of Pablic Service. Securities are in denomination of $500, dated April 1, 1901. Interest will be payable semi annually at the American Exchange National Bank, New York City. Principal will mature April 1, 1921, subject to call after April 1, 1911. A certified check for 5% of the gross amount of bonds, payable to the Board of Public Service, must accompany bids. Cleveland, Ohio.— Bond Sale.— F&rBon, Leach & Co., Chicago, and Seasongood & Mayer, Cincinnati, were the highest bidders on May 25 for the $100,000 4^ 20 year intercepting sewer bonds and $200,000 4^ lOyear sewer district bonds. Their joint bids were 111*716, or an interest basis of about 8*202^ for the first-named issue, and 106'286, or a basis of about 3*259^ for the last-named. Following are the bids M., : Farson, Leach & Co. Mayer. Cincinnati Lamprecht Bros. Co., Chicago, and Seasongood Cleveland R. L. Day & Co., Boston W. J. Hayes & Sons, Cleveland Denison. Prior & Co., Cleveland Geo. C. White Jr.. New York K. KlevbolleJi Co., Cincinnati Spitzer&Co .Toledo Feder. Holzman & Co., Cincinnati $100,000 $200000 Bond Issue. Bond Issue. $111,71600 111,25000 111,06660 110,95000 110.78000 110.B6100 110.61100 110,(62 00 108,92000 ?212,672 00 2il,6a0 00 212.^66 60 & 211,96000 211,412 00 211,805SOO 211,622 00 210,0u00» of bonds see Chronicle May 4, p. 893. Concord, N. H.—Loan Authorized. The Finance Committee has voted to authorize a temporary loan of §50,000 for For description — uses of the city. Dajton (Ohio) Scliool District.— Bond Offering.— Proposals will be received until 12 m. July 1, 1901, by the Committee on Finance of the Board of Education for $20,000 4% refunding high school and school building bonds. Securities are in denomination of $1,000, dated July 1, 1901. Interest will be payable semi-annually in New York City. Principal certified check on a national will mature July 1, 1921. bank for 5% at the gross amount of bonds, payable to the G. Haeussler, Clerk of the Board of Educaorder of tion, must accompany proposals. Delray (Mich.) School District. Bonds Fofed.— This district has voted to issue $45,000 3}^{% school bonds. A Wm. Delta County, Texas. of $6,000 4:% — — [Vol. LXXII. 1-17-year (serial) school bonds. Securities are in denominations of $100 and $500. (lilastonla, N. C.—Bond Offering —Pcoposa,ls will be received until to day (June 1) for $40,000 5^ 3}-year gold bonds as follows $15.00D for water works and sewerage, $10,000 for electric lights and $15,000 for graded schools. Securities are in denomination of $1,000, dated June 1, 1901. Interest will be payable semi annuallj' in New York City. : Cedar Rapids (Iowa) Independent School District.— Chronicle May : CMiiUJNlCJLK Bonds Authorized.— The issuance 5-10-year (optional) jail bonds has been author- Glendale (Ohio) School District.- Boni Off^ermg.—Proposals will be received until 12 m., July 1, for $2,000 4)^^ school bonds. Securities are in denomination of $500, dated July 1, 1901. Interest will be payable Feb. 1 and Aug. 1 at the Ohio Valley National Bank of Cincinnati. Principal will mature $1,000 Aug. 1, 1925, and $l,O00 Aug. 1, 1926. Glenville, Ohio.— Bond Sale,— On May 23 $65,000 6% Daan Street improvement bonds were awarded to the Lamprecht Bros. Co., Cleveland, at 108*657 and accrued interest. Sixty bonds are in denomination of $1,000 and twenty of $250 each, all dated May 1, 1901. Interest will be payable annually, and the principal will mature $3,250 yearly on Sept. 1 from 1902 to 1921, inclusive. Goldsboro, N.C.—Price Paii /or Bonds.— The prica paid by oby Robinson of Atlanta for the $25,000 20 year schoolimprovement bonds awarded to him on May 20 was 100 20 for 43^^ per cents, the [purchaser to pay the expense of engraving the bonds. Grand Rapids, Mich.— Bond O^erngr.— Proposals will be received until 4 p. M., June 10, by I. F. Laoaoreaux, City Clerk, for $100,001) coupon street- improvement bonds. Securities are in denomination of $1,000, dated May 1, 1901. Interest will be payable semi-annually in Grand Rapids. Principal will mature $30,00:j yearly on May 1 from 1902 to 1906, inclusive. deposit of $3,000, evidenced by a certified check, payable to the City Treasurer, must accompany proposals. Check must be unconditional. Granite Falls, Mich.—Bond Sale.— On May 2S the $6,000 4J^^ 15-year water-works and electric-light improvement bonds were awarded to the Appleton State Bank at 104*666, For description ot bonds see Chronicle May U, p. 949. Grant I'oanty (Ore.) School District No. 3.— Bond Proposals will be received until Jane 20 by Z. J. Offering. Martin, County Treasurer (P. O. Canyon City), for $4,000 6% 10 20-year (optional) bonds of this district. Interest will be payable semi-annually. The purchaser will be required to furnish blank bonds. The above bonds, when issued, will represent the total debt of the district. Grenada County, Miss.— Borad OJ'ermflr.— Proposals will be received until July 1 for $30,000 bridge and road bonds. Full details of these bonds will be determined upon at a meeting to be held June 3, are advised that this Hancock, Mich.— Bond Sate.— city has sold an issue of $25,000 water bonds to the Superior Savings Bank of Hancock at 4^. Bonds were voted at an election held May 21. 1901. Havre, Chotean County, Mont. Bond Offering. Proposals will be received until 2 p. M., July 1, by L. Newman, water-works and electric-light Town Clerk, for $15,0J0 bonds. Securities are in denomination of $1,000> dated July Interest will be payable semi-annually in either 1, 1901. Havre or in New York City. Principal will mature in 20 years, subject to call after 10 years. certified check for $500, payable to L, Newman, Town Clerk, must accompany proposals. Hay Township (P. 0. Zurich), Huron County, Ont.— Debenture Offering. Proposals will be received until 11 A, M., June 3, by Fred. Hess, Township Clerk, for $6,200 55 drainage debentures. Hoaglin Township, Van Wert County, Ohio.— Bond OfferThis township will sell on June 5 an issue of $5,2uO 4^ ing. pike bonds. Proposals will be received by the Commissioners of the Rumble Free Turnpike in Blachly Matthias's law oiEce in Van Wert. Hopkinton, Iowa. Bonds Voted. It is stated that this town has voted to issue bonds for water- works purposes. Idaho. Bond Offering, Proposals will be received until 12 M June 15, by J. J. Plumer, State Treasurer, for the following 4^ bonds R H A — We — H A — — & — — , ized. Dresden, OnU— Debenture Sale.— On May 21 the $10,000 i% 30-year electric light debentures and the $1,800 4% 20 year debentures were awarded to the Canada Life Association Co. of Toronto at 101*271. Following are the bids : Can. Life Asso. Co., Toronto.$ll.850 00 H. O'Uara & Co., Toronto.... $11,717 40 11,800 00 W. E.Merritt, Chatham W. H. Brouse, Toronto 11,625 00 Central Canada L. & S. Co... 11,80;) 00 F. Marx, Chatham 11,600 00 I I Interest will be payable annually. Dnqnesne, Pa.— Bonds Defeated,— A special election wa3 held recently in this borough to vote on the question of issuing $80,000 school- house bonds and resulted against the bonds. Elmo (Mo.) School District.- Bonds Fofed.— This district, it is stated, has voted to issue $4,000 school bonds. These securities will be offered for sale about June 10, 1901. Farmington (Mo.) School District.-Bonds Register ed,— The State Auditor has registered an issue of $10,000 5% 1-10year (serial) building bonds, These bonds, it is stated, have been sold at 103*10. Fayette, Miss. Bonds Proposed,—At a mass meeting of the taxpayers of this town held May 16, a resolution was adopted requesting the Mayor and Aldermen to secure the necessary authority to issue $10,000 20 year water bonds. Frenchtown (N. J.) School District.—Bond Sate.— This district has sold at par to local parties an issue of $10,000 8^ $50,f 00 University of Idaho bonds, in denomination of $1,000. 25,000 Academy of Idaho bonds, in denomination of *500. 8,000 Lewistun State Normal School bonds, in denomination of $500. 13.000 Albion State Normal School bonds, in deuomiiation of $500. 10tf,000 deficiency funding bonds, in denomination of $1,0(J0. Securities are issued pursuant to Acts of the Legislalture of Idaho providing for the issuance of bonds for the purpose of refunding deficiency claims and for the construction and the improvement of State educational institutions. Interest on the above bonds will be payable January 1 and July 1 at the Hanover National Bank, New York City. Principal will mature in twenty years, subject to certified call after ten years. A check for 5% of the amount of bid must accompany proposals. Independence, Mo.— Bond O^ermflf.— Proposals will be received until June 11 by S. A. Sullivan, City Clerk, for $30,000 4^ 5-20 year (optional) electric-light bonds. Securities were authorized at the election held May 7, the vote being 565 for and 279 against. They are in denomination of $500, dated August 1, 1901. Interest will be payable semi-annually. The certified check for $500 will be required with bids. present debt of the city is $71,000. The assessed valuation is A $2,337,382. Jackson Township (P. 0. Crestline), Ohio.— Bond OfferProposals will be received until 12 M., June 25, by S. B. Foust, Township Clerk, for $7,000 6% road bonds. Securities ing. — — — June 1, . — — . THE CHRONICLE. 1901. J are in denomination of §500, dated Angast 1, 1901. Interest will be payable semi-annually. Principal will mature $3,000 Aug. 1, 1907, and a like amount on Aug. 1, 1908, and $1,000 certified check for $500, payable to the on Aug. 1, 1909. above-named Clerk, must accompany proposals. Jasper, Ala.— Description o/ Bonds. The' |15, 000 5i gold school bonds which we stated last week had been sold were taken by C. H. Coflan of Chicago at par. Securities are in denomination of $500, dated March 1, 1901. Interest will be payable semi-annually and the principal will mature $500 yearly, beginning in 1911, all bonds unpaid at the end of twenty years, however, being subject to call at any time A — 1097 A certified check for $200 must accompany proNew Orleans, La.— B ond Sale.— The i% constitutional Treasurer, posals. bonds advertised for lows: H. Neugass Geo. W. Smith sal e on $50.000@107-25 ll,000(ai06-«7 May 25 were W. Mysiog. awarded f I | Uermanla Sav. Banl£....771,000@106-01 A.. j ) t. A bid of as fol- OCO®106-54 $5.0 6.C ,C0O(ai06-O4 10,0 000(al0d-78 10, 000<& 105-82 103"383 and accrued interest from Jan. 1, 1901, Grant and R. De Gray for $814, was received from Rouee 000 of the bonds offered. For description of bonds see Chron- icle April & 27, p. 836. Niagara Falls (N. Y.) School District.- Bonds Voted.— Johnston Township, Trambnll County, Ohio.— Bond This district on May 23 authorized an issue of §150,000 highSale. This township has sold an issue of $4,000 school bonds. school bonds by a vote of 849 to 229. North Adams, Mass.— Loan Negotiated.— The City TreasJoliet, 111.— Bond O/Terinflf.— Proposals will be received until 7:30 p. m., June 3, by Sam C. Rickson, City Clerk, for urer has borrowed in Boston the sum of $31,500. North D&kota.—Bond Sale— Bond Offering.— Only $8,000 $15,000 d}4% bridge-improvement bonds. Securities are in denomination of $1,000. Interest will be payable annually. of the $50,000 i% bonds advertised for sale on May 9 have been sold. We are advised that the interest rate on the >,; Principal will mature in ten years. jts' La Ballona School District, Los Angeles Connty, ;Ca). remaining $42,000 bonds has been raised to 414% ^^^ t^© —Bonds Defeated. This district has voted against the issu- bonds will be re-advertised. These securities are issued by the North Dakota Agricultural College for sewerage and ance of bonds for a new school house. Lancaster, Ohio. Bond Sale. On May 27 the two issues other improvements at the college. They are in denominaof 5% street-improvement bonds aggregating $8,840 were tion of $1,0C0, aud the principal will run for twenty years. Oakley, Ohio.— Bond -Saie.— On May 22 the eleven issues awarded to the Hockng Valley National Bank of Lancaster of 4% street and sidewalk bonds aggregating $16,609 50 were at 106-90. Following are the bids awarded to Rudolph Kleybolte & Co., Cincinnati, at 100*50. SeasoDKOOd A Mayer. Cincin.. HocklDK Valley National B'k. 19,304 dS ~ " " Trust Co. 8av. & ~ Lancaster t9,4£000 Columbus 9,290 00 of bonds see Chronicle May 4, p. 895. New Ist Nat. B'k, Columbus.. 9,i!b8 76 For description Farmers' & Citizens' Bank. Ogdensburg, N. Y.—Bond Offering.— Ptopoaala will be re9,400 00 Provident Sav. & Tr. Co., tin. 9,27a 28 Lancaster. Feder, Uolzman&Cc.Clncln. 9,358 00 Oblo Nat. Bank. Columbus.... 9,215 88 ceived until 2 P. M., June 15, 1901, for $16,000 3}4% water9,818 25 Uenlson. Prior & Co.. Cleve... 9,140 00 Lamnrecht Bros. Co., Cleve. Fairfield Co. B'k. Lancaster... 9,815 18 Lancaster.Bank, Lancaster. e.oeon works bonds. Securities wUl be issued in denominations to thereafter. ff«-'' — — — : ' " ' ' . . . W.J. Hayes* Sons, Cleve.... 9.31100 For description of bonds see Chronicle May — They will be dated July 1, 1901. Interest wUl be payable semi-annually at the office of the City Treasbe received urer. Principal will mature $800 yearly on July 1 from 1903 suit purchasers. 18, p. 1000. Lima, Ohio. Bond Offering. Proposals will June 3, by C. E. Lynch, City Clerk, for $4,200 to until 12 M., 4i^^ West Elm Street grading bondii. Securities are dated Jan. 1, 1901, and will mature $1,000 on July 1, 1901; $1,000 Jan. 1, 1902; $1,100 July 1, 1902, and $1,100 on Jan. 1, 1908. Interest will be payable semi-annually at the office of the certified check for 5% of the amount of City Treasurer. bonds bid for, payable to the City Clerk, must accompany proposals. Accrued interest is to be paid by purchaser. Bids must be made on blank forms furnished by the city. A 1921, inclusive. Penobscot County (P. 0. Bangor), May Me.— Bond Sale. —On court-house bonds were awarded toE. H. Gay & Co., Boston, at 107'29— an interest basis of about 3'043^. Following are the bids 107'29 Tyler, Fogg & Co., Baneor.... 104-487 B. H. Gay* Co., Boston Blake, Burrows & Brown, BariK.10l'61 Karson, Leach * Co.. New York.107'27 106'06 B. U. Rollins * Sons, Boston ... 104-040 Mason. Lewis & Co.. Boston lCO-435 E. C. Stanwood 4 Co.. Boston.. .104-26 W. J. Hayes 4 Sons. Boston. Blodget, Menitt 4 Co., Boston.. loriO East. Tr. * Bkg. Co., Bangor. .105-52 29 the $125,000 3>^^ 10- 34- year : . . . . For description of bonds see Chronicle May Ljkens Township, Craiiford County, Ohio.— Bond Sale.— The sale of $18,000 5% 9%-year (average) road bonds to Sea- — 25, p. 1050. Plattsburg, N. Y. Bond Election. An election will be held in this village on June 4 to vote on the question of issusongood & Mayer, Cincinnati, at lOb'81, is reported. Macon (Mo.) School District.— Bonds Defeated.— At the ing $50,000 street and sewer bonds. PlattTille, Wis.— Bond Election. An election will be held election held May 21 the proposition to issue $40,000 echoolin this city to vote on the question of issuing $11,000 funding bnilding bonds failed to carry. Manchester (III.) School District.— Bond Offering.— Fto- bonds. This bond issue was previously voted upon, but the posals for the $5,000 1-5-year (serial) echool-houee bonds election then was, it is stated, illegally held. Renville County, Minn.— BotwJ Election. An election has mentioned in the Chronicle May 18 will be received until 12 M., June 8, by the School Directors— W. T. Knox, Secretary. been called for June 26 to vote on the question of issuing Securities are dated June 15, 1901. Interest (rate to be named $50,000 court-house bonds. Rochester (Pa.) School District.-Bond Offering.— Proin bids) will be payable annually. Mapleton (Minn.) School District.— Bonds Voted.— Thia posals will be rtceived until 6 P. m., June 3, for $41,500 B14% Interest will district has voted to issue $6,000 4^ school bonds. The full bonds. Securities are in denomination of $500. be payable semiannually. Principal will mature $2,000 on details of these securities are yet to be determined. Marquette, Mich.—Bond Sale.— It is stated that the $10,- June 1, 1904; $1,5C0 yearly en June 1 from 1905 to 1929, in000 3)0 refunding bonds offered for sale on May 27 were clusive, and $2,000 on June 1, 1930. Bonds are free from tax. awarded to S. A. Kean, Chicago, at par. Securities are in The total debt of the district, including this issue, will be denomination of $1,0G0, dated July 1, 1901. Interest will be $5O,CO0. The borough ot Rochester has a debt of $47,500, incertified check for $500 must payable semi-annually. Principal will mature $5,000 on July curred for water purposes.j^ accompany proposals. 1, 1908, and a like amount on July 1, 1909. RockiDgham, N. C. Bond OJ'ertngf.— Proposals will be reMilwaukee County, TVis.- Bond Sate.— On May 23 the $110,000 i% bonds were awarded to Farson, Leach & Co., Chi- ceived until 12 M. July 10, by W. N. Everett, Chairman cago, at 107 •582—an interest basis of about 3 246^. Follow- Finance Committee, for two series of 6% 30-year bonds as follows: From $8,000 to $10,000 for lights and from $10,COO ing are the bids Farson. Leach & Co.. Chic. $118,341 00 Denlson, Prior * Co.. Cleve. $117,216 CO to $12,000 for school buildings. Interest on these bonds will Wagner* Co., ChicaKO 118,187 00 W. J. Hayes & Sons, Cleve.. 117, iOo 00 Mason. Lewis & Co.. Chfc... 117,963 Trowbridge* NiverCcChi. 117.177 77 be payable semi-annually in New York City. Securities have Hackett & Hoff, Milwaukee. 117.579 00 Chas. H. Coffin. Chicago been approved by A. S. Dockery, Town Attorney. Guarantee 114,401 00 Mercb. Loan & Tr. Co., Chic 117,426 00 checks for $200 must accompany proposals. The official adFor description of bonds see Chronicle May 11, p. 950. vertisement states that the town has no debt at present and Mount Carmei (111.) School Uislrlct.- Bond offering.— has never defaulted in payment of any obligation. Proposals will be received until June 3 by the Board of EduRockland, Me.— Bond O^eriTjgr.— Proposals will be received cation, E. J. Moyer, Secretary, for $5,000 5^ 1-10-year (serial) until 12 M., June 20, by Edwin Sprague, City Treasurer, for school bonds. Securities are in denomination of $500, dated $18,000 d^^^i refunding bonds. Ten bonds are in denominaJune 3, 1901. Interest will be payable annually. tion of $1,000 and sixteen of $500 each, all dated July 1-, 1901. Napoleon, Ohio,—Bond O^erin^.- Proposals will be re- Interest will be payable semi-annually. Principal will maceived until 12 M., Jane 15, by Usher Fisher, Village Clerk, ture July 1, 1916. for the following bonds Rome, N. Y. Bond Offering.— Propoaala will be received $900 6^ 1-3-year (serial) stoim water sewer beads, ini denomination of $800; until 7:30 P. M., June 3, by K. S. Putnam, City Chamberlain, New York draft lor »1U0 required. 1,575 5$ l-a-year (strial) tewer bonds, la denomination of $526: New York for $30,000 S}4% registered street- improvement bonds. Sedraft for $100 required. 6,100 6J 1-6- year (serial) branch sewer No. 1 bonds, in denominations of $1,000 curities are issued under authority of Chapter 650, Laws of and »1.100; New V ork draft for $i!Oii required. 1901. They are in denomination of $500, dated June 1, 1901. 8,100 6% 1-3-year (serial) storm waier sewer bunds. In denomination of $700: Interest will be payable semi-annually at the Farmers' NaNew \ ork draft for $100 required. 2,176 5% 1-3-year (serial) local sewer No. 1 bonds. In denomination of $726; New tional Bank of Rome. Principal will mature $6,000 yearly York draft for $200 required. 4aO 6% 1-3-year (serial) sewer bonds, in denomination of $160; New York on June 1 from 1902 to 1906, inclusive. dralt lor $100 required. Roseau County (P. 0. Roseau), Minn.— Bond Offering. Securities are all dated June 1, 1901, and the interest will Proposals will be received until June 21, by J. C. Spencer, be payable semi-annually on March 1 and Sept. 1 at the office County Auditor, for $43,000 5% 10-year funding boneis. Seof the Village Treasurer. All drafts must be made payable curities are issued under authority of Chapter 164, Laws of to the Village Treasurer. Purchasers will be required to 1901. They are in denomination of $1,000, dated July 1, 1901. furnish blank bonds. Interest will be payable annually. A dep(5sit of $2,000 must New London, Conn.- Bonds Fo^ed.— At a recent city meet- be made with the County Trea.-iurer by all bidders. ing the issuance of $100,000 school bonds was authorized. Sandstone (Pine County, Minn.) .School District No. &. Niles, Ohio.— Bond O^trtng.— Proposals will be received Bond Ojfenngr.- Proposals viill be received until 1 p. M., until 12 M., June 7, by Jno. L. McDermott, City Clerk, for June 5, by A. L. Glasow, District Clerk, for $20,000 4}^i< $1,500 556 1 5 year (serial) coupon sewer bonds. Securities bonds. Securities are dated July 1, 1901, and the interest are in denomination of $300, dated April 1, 1901. Interest will be payable annually in Minneapolis. A certified check will be payable semi- annually at the office of the City for 3^ of bid must accompany proposals. — — A ( . : — — — : THE CHRONICLE. 1098 Sanford, Fla.— Bond O^mng.— Proposals will be received until Jnly 17, by the Bond Trustees, for $8,000 6% bonds. Securities are in denomination of $1,000. They are dated Jan 1, 1897, and will mature in twenty years. Interest will be payable semi-annually at the National Park Bank, New York City. SaultSte. Marie (Mich.) School On May & bonds $30,000 i% sewer bonds, maturing $10,000 on June 1 in the years 1926, 1928 and 193". 2.S0OO 4$ fire bonds, aatnrlns $10,010 June Il,u00 if assessment and deficiency bonds, $5,<'0U June 1.1913. and $15,000 June 1. 192tf. maturinK $6,000 June 1, 1912, and 1. Stockbridge, Mass.— Loan Authorized.— A.t a recent town meeting the Treasurer was authorized to borrow $3,000. Stonewall County, Tex.— Bonos 4u«feori2ed.—The Commissioners' Court has decided to issue $36,240 A% refunding court house, jail, road and bridge bonds. Toledo, Ohio.— Bond Q^ering.— Proposals will be received until 7:30 P. M., June 18, by J. H. Wylie, City Auditor, for DHtrict— Bond Sale.— 10 the $50,000 i% 10-year bonds were awarded to Denison, Prior Co., Cleveland. For description of bonds Bee Chronicle May 4, p. 895. Sdieiiectady, N. Y.—iVb^e Sale.— On May 28 an issue of $5,200 20 4'fc street notes was awarded to the Schenectady Savings Bank (the only bidders) at 101*346. Securities are in denomination of $1,300 05, dated May 28, 1901. Interest will be payable annually at the office of the City Treasurer. Principal will mature one note yearly on August 28 from 1902 to 1905, inclusive. 5ond O^ti'iwg — Proposals will be received until 11 A M., June 18, by J. H. Bernardi, City Treasurer, for the following 1027, Sf curiiies are all in denomination of $1,000, dated June 1, 1901, Interest will be payable semi-annually at the office of the City Treasurer. These bonds are issued under the au certified thority of Chapters 211, 64 and 63, Laws ofJlOOl. check for 10^ of the total amount bid, payable to the City Treasurer, must accompany proposals. A — Sherburne (IMLlnn.) School District.— Bond Offering. Proposals will be received until 8 p. M., Jane 20, for $5,0)0 20- year bonds. Securities were authorized at the election held May 13. Interest will be at a rate not exceeding b%. Shoshone Comity School District No. 8 (P. 0. Wallace), Idah'>.— Bond Offering. Proposals will be received until 2 P. M., June 8, by D C. McKiesick, Clerk of the Board of Trustees, for $12,000 8 15-year (optional) gold coupon schoolbuildiog bonds. Securities are in denomination of $1,000. Interest (to be named in bids) will be payable semi-annually at the office of the County Treasurer. certified check tor 10^ of the amount of bonds bid for, payable to the County Treasurer, must accompanj' proposals. — A NEW NEW LOANS. j^eo,ooo Cascade County (Montana) School Listrict No. 1., REFUVDING BONDS. Notice is hereby given that in pursuance of the provisions of Section 1810 of the Political Code of Montana, as amended and approved by ihe Seventh Legislative Assembly of tbe State of Montana. March 4th, 1901, and an order duly made by the School Trustees of SCHOOL DISTRICT NO. 1 IN CASCADE COUNTY, STATE OF MONTANA, at a regular meeting of said School Trustees held on the 3d day of May, 1901, the said School Trustees of School District No. 1 will, on the 1st day of July, 1601, at 10 o'clock A. M. of said day, at the County Treasurer's OfBce in the County Court House, in the City of Great Falls, Cascade County, Montana,under and by virtue of said power conferred upon them by law, and by virtue of the order aforesaid, receive proposals and sell Refunding School Bonds of said School District, in ttie amount of Sixty Thousand Dollars ($60,00 ) drawing interest at the rateof four percent per annum, payable semi-annually, to wit, on theflrstday of July and on the first day of January of each year, at the Office of the County Treasurer of Cascade County, in the City of Great Falls, Montana. Said bonds will be of the denomination of One Thousand Dollars ($1,000) each, and shall ha due and payable twenty years after the date of their issuance. The said bonds will be made parable at the Office of the County Treasurer of Cascade County in the City of Great Palls. Montana. Sealed proposals for tbe purchase of said bonds win be received up to the time of sale. Bidders will satisfy themselves in advance of the Bale as to the legality of said bonds, and properly certify transcripts of the School Trustees' Records will be furnished on application. A certified check or draft In the amount of Two Thousand Five Hundred Dollars ($^,500) payable to the order of the Chairman of the Board of School Trustees of School District No. 1, Cascade County. Montana, will be required to accompany each bid as a guarantee of good faith, and will be forfeited to the said School District should the successful bidder fail to take the bonds. The said School Trustees reserve the right to reject any and all bids made Bids should be marked " Bids on Refunding School Bonds "and addressed to O. S. Warden, Chairman Board School Trustees, Great Falls, Montana. By order of the School Trustees of School District No. 1, of Cascade County, State of Montana. O. S. WARDEN, Chairman. A. E. CARY, Clerk. [Vol. LXXII, $100,983 93 A% street-improvement bonds, as follows: Name o) Imprnveincnt. Date. First Bond Due, Crittenden Avenue No. 2 paving. ...May; 7, 1901.,, .May 7, lflt'2.... Delaware AvenueNo 8 paving Apr, 2, lHtil....Aor. 2,1902 .. Detroit Avenue No. 2 paving Mar. 20, 1901 Mar. 20, 1902 Kast Broadway No. 1 paving Mar. 2", 1901 Mar. 20, 19i2 Ferrer Street No. 1 paving Jwrvis Street No. 1 paving Amownt. $2,872 11 A,22u 30 16,779 40 2i,';7.t 24 Mar.22,1901 Apr. m, 1901 Mar. 22, 1'.lOi. .. Apr.lO, 19ii!i Apr. 23, 1901.,.. Apr. 2 1, 1903 Mar. 20, 1901 Mar.20, icoa ... Mar. 5, 1901... Mar. 5,1902.... Melrose Avenue No. 2 paving South Street No. I paving Second Street No, 2 paving: Total 10,0i»l 87 2,563 58 8 797 90 29.566 99 3,317 64 $100,983 93 Interest will be payable semi-annually at the office of the City Treasurer. Principal of each issue will run five years to maturity of last bond. Securities are issued under sections 2704 to 2707, Revised Statutes of Ohio. deposit in money or a certified check " without condition as to payment," on some national bank in Toledo, equal to 5% of the par value of the bonds, will be required with each proposal, Van Zandt County, Tex.— Bond Sale.— The $34,000 3% 540- year (optional) refunding court- house and jail bonds, mentioned in the Chronicle May 18, have been sold to the State Permanent School Fand at par and accrued interest. Securities are in denomination of $1,000. Vernon Township (Trambull County, Ohio,) School District. Bond Sa/e.— This district on May 11 sold an issue of $5,00 b% bonds to the First National Bank of Youngstown at 10463. Following are the bids: First Nat. Bank, Youngstown. $6,231 50 First Nat. Bank, Cortland,-,. .$5,070 00 First Nat. Bank, Kinsman 6.102 50 Securities are in denomination of $500. Interest will be payable semi-annually. Principal will mature $500 yearly on Sept. 1, 1902 to 1906, inclusive. Watfcins, N. Y.—Bond Ofering. are advised by C. M. Woodward, Secretary Board of Water and Sewer Commissioners, that proposals for the $20,000 4 % water bonds, mentioned in the Chronicle April 27, will be received until June A > I . I —We NEW LOANS. ^3 1,000 GREENVILLE CO., CASCADE S. NOTICE,— Until June 15. 1901, at 12 o'clock M., sealed bids will be received at my ofiBoe in the City of Greenville, S, C, for $ (1,000 GREENVILLE COUNTY COUPON BONDS to be issued tor the purpose of paying past floating indebtedness, and railroad bonds, of sstid County. Said bonds to bear date July 1, 1901, and to become due in 30 years from date and to be of the denomination of 11,000 and to bear interest at the rate of i per centum per annum, payable semi-annually in New York or Greenville, S. C, on the first days of January and July. These bonds are exempt from State, County and Municipal Taxes by special provision of the Act, Each bid must be accompanied with a certified check for $1,000. The right to reject any and all bids is hereby reserved. E. SPEEGLE, County Supervisor. CO., MONTANA. Notice of Redemption of Bonds. C, COUPON BONDS. LOANS. hereby given that on the 1st day of July New York, State of New York, at the Chase National Bank, the County of Cascade, Stale of Montana, will redeem outstanding bonds as Notice is 1901, in the City of follows: $110,000 00 Bridge Bonds, dated July 1st, 1891 and payable July Ist, 1901; $20,000 00 7« Court House Site Bonds, dated July Ist, 1891, due July 1st, 1911, and payable July 1st, due July If. 1st, 1911, 1901. VINCBNT FORTUNE, Clerk and Recorder, Cascade County, Montana, #6S,000 New Britain, Conn., SCHOOL BONDS. 3K^ HIGH Yielding Investor Z"a%. St. Michaels, 4^ Maryland, WATER-WORKS BONDS. Sealed bids will be received on behalf of the Town of St. Michaels, Talbot County, Maryland, by the undersigned, on or before June loth, lyoi. for the purchase by;the highest resp 'usible bidder of its $l2,0i'0 Neeoiiable Coupon Bonds, to be issued pursunntto Chapter 113 of the Acts of the Maryland Legislature of 1900, tor the construction o f Waterworks for said Town, and the service connections, and payable fifty years from their date of issue, with interest at i per cent, payable semi-annually. Special provisions are madebvsaid Act for the payment of the principal and interest of said tionds, which are exempted from taxes, except for State purposes, but 'annot be sold forjless than their par value. The light to reject any or all bids is reserv^d. For any information touching said Bonds, or the financial condition of said Town, address. G. K. BENSON, Clerk of Board of Commissioners, St. Michaels, Md. <^soo,ooo Legal Investments for Connecticut and Maine Savings Banks,. 1 NASSAU N. The South Park Commissioners will receive pro posals lor Five uundrtd (500) One Thousaud (flOOO) Dollar four (4) per centum Serial Bonds, until '.i:30 P. M. Wednesday, June 12, 1801, at the office of said Commissioners in the city of Chicago, Illinois. Full information and form of Proposals may be obtained on application to the undersigned. Secretary. G. EDWARD SaUMWAY, ST.. NEW YORK Co., CITY. W. HARRIS & Nkw York, CO., BANKERS. Chicago. Issue Travelers' Letters of Credit Boston. in Bondt of Railroad, Street Rail- Deal way, Oas and Electric Companie$' Light Oovemrrunt and Jtfi*nicipal Bonds Bought and Sold. Quotations furnished for purchase, sale or exchaneo AVAILABLE IN ALL PAETS OF THE WORLD. 81 Nassau St., '^'""'R'^fiirtfn'^^"*'® Building) New York. Cable Address :—S aba. SOUTH PARK SERIAL BONDS. & Rudolph Klevboite Blodget, Merritt & Co., BANKERS, 16 Congress Street, Boston. 13 Wall Street, New York. STATE, CITY & RAILROAD BONDS. : June THE CHRONICLE. 1901.] 1, Securities were authorized by a vote of 159 to 23 at an election held May 17. They are in denomination of $1,000, dated July 1, 1901. Interest will be payable semi-annually at the Knickerr ocker Trust Co., New York City. Principal will mature July 1, 1921. West Bay City, Mich.—Bond S^ate.—This city has sold to Chicago parties an iseue of $7,000 retundiog bonds. 20. Weslboro, Mass.— Bonds Voted.— At a recent town meeting an issue of |5,000 4% watpr bonds was voted. Wichita (Kau.) School District.— Bond ^a/e.- On May 10 20-year (optional) bonds were awarded to 25 the $25,0(10 the Fourth National Back, Wichita, at 100 60. FoUowicg are the bids Fourth Nat. Bank. Wichita. .I2.5,1F0 00 Trowbrlrtee A Nlver Co. (less »$25.000 00 W.W.Jihnsi on .Jr. Wichita. i6.112.')0l «2tO commlBsion) 26.102 60 W.J. Hayes & Sons (less 8600 J. H. Stewart. Wichita H l were voted at a special election held May 13, Interest will be in denomination of $500. payable annually, Piincipal will mature ifoOO yearly on June 1 from 1902 to 1912, inclupive, $1,000 yearly on June 1 from 1913 to 1916, inclusive, and $1,500 yearly on June 1 from 1917 Securities * F. 25.077 50 KiDK (agent) And 1 commlsslonj * 26,000C0 to 1921, inclusive. Yonkers f N. Y.) School District.- Bond Sale.— On Mav 29 the $7,250 d}4% reputered bond was awaided to R. KleyFollowirg are the lids Co., New York, at 10oM5, bolte 102-67 W. J. Haves * Sons. Cleve R. Kleybolte A Co.. New York..l' 3-.15 & $11,800 1, 1902, to inclusive. inclusive. Securities are in denomination of |1,000, dated July 1, Interest will be payable March 1 and Sept. 1. Accrued 1901. certified checK for interest is to be paid by purcbasere. A $1,000 on a Bowling Green each of the above isfeues. bank must accompany bids for Wyandotte (Mich.) School District.— Bond Sale.— On 23 the |17,C00 5% school bonds were awarded to Matthew Finr , Detroit, at 112*577, accrued interest and blank tonds free of charge. Following are the bids : $19,138 00 W. J. Hayes & Sons, Cleve.. $18,736 00 Matthew Finn, Detroit 18,fS«O00 Devitt, Tremble* Co.. Chic. 1>'.9:^8 00 Wyandotte Sav. Bank Denlson, Prior A Co.. Cleve. 18,8"fi 00 Wra. Campbell, Wyandotte. 1H.6' 00 18,r.76 00 Co., Uetroit 18,827 50 West & R. Klevbolte & Co., Clncin.. 18,550 OO Trowbridge & Nlver Co.. Chic. 1^,781 Ou First Com. Savinxs Bank May I < . . & Mayer, SeasonKOod . i Cincln. 18.7HO uO I For further description of bends see^CHRONiCLE WHITE & C. H. Bond Offering.— PropoBsils BANICERS, 71 Broadway, S lill will be received until iesne. INVESTMENTS. LONDON AND PARIS EXCHANGE, Bonds. HEAD OFFICE Exchange Plaee, Boston, LONDON, E. C. prepared to entertain proposiiis tor Introducinar Sooth AI'rtcaD and KhodeHliin ftliiires in America. Only drsi-cluHM propooitlons. ia Euclid Avenue, Clevelaud. Investment Securities FOR ANGLO-AMESICJiN BANK, Ztd., Charing Cross, London. CUICAGO, SAVINGS BANKS and TRUST FUNDS Corporation BONDS. ROLLINS & SONS, BOSTO]V. Denver. §an Franclseo. WE OWN AND OFFER b% BOSTON. Monadnock ButldluK, AND E. H. MASON, LEWIS & CO. BANKERS, MUNICIPAL Service MUNICIPAL RAILROAD CORrORATION UU Devonnhlre NHW BONDS. "^ ^ ^ ^ Railway and Gas Companies L,IST OF MEXICO, ON APPLICATION. Perry, Coffin Price to yield 3>^. Trowbridge & & Burr, CHICAGO, lat NationnI Bank Seasongood 8. & «0 Htnte St. Mayer, W, Corner Third and Walnut Street*. CINCINNATI, OUIO. MUNICIPAL BONDS. City, County, Town and School Bonds issued In leading prosperous States of the Union, •speolsllr adapted for safe and permanent Investment for instates and Trust Funds. HiKh-Orado T. B. POTTER, MUNICIPAL and DriMPkC DUNLIb, CORPORATION MUNICIPAL L.18T CO., NASSAU STREET, 1 - 112 SO. FOURTH ST. 115 Dearborn St., CHICAGO. Send for our luTestment Circulars. R. FULTON & CO., la salle street* CHIGACO. MUNICIPAL BONDS. E. C. • BONDS and DUKE M. PARSON &.CO. 172 Washington Street, - • CORPORATION 171 CHICAGO, - <& - Municipal Bonds, Co., BOSTON, B'Id'ir. YORK, PHILA., K. BOSTON. Niver JONES Netting from 33^ to 6^ always on liand. 6o State Street, GOLD BONDS. 6% C. ' Choice iMBues. Street BONDS A SPECIALTY. EDW. St. STATEofCOAHUILA, INVESTMENT BONDS. U. 8. X Basildon House, Moorgate Street, The excbanice LISTS. Ld., Bankers and Exchange Agents. AGENTS FOR THE Public 2 p. m., A New York. - 11, p. bonds not later than July 1, 1901, the money to be delivered at one of the city banks or at the office of the City Treasurer. certified check on a Mahoning County back for |200 must accompany proposals. Bids must be made separately for each SEND FOR CO., May June 24, by Wm. I. Davies, City Clerk, for |12,000 5% Williamson Avenue sewer bonds, maturing $1,200 yearly on Oct. 1 from 1902 to 1911, inclusive. Securities are dated July 1, 1901. Interest will be payable semianLually at the office of the Purchasers must be prepared to take the City Treasurer. 6^. CORitE!»PONDENX'E SOLICITED. : 953. Grade High TO NET FROM 4M^ TO 25, p. 1052. 27 the seven street pavlnw Jbonds. maturinK tl,l>-0 yearly on Oct. 1 from 190« to 1911, inclusive; awarded to the Dollar tsavwua 4 Trust Co. of RAILROAD AND DENISON, PRIOR & CO CORPORATION D BALERS IN BONDS May Wood INVESTMENTS. INVESTMENTS, MUNICIPAL | Youngstown at Iii4'64. 8,600 South Avenue grading bonds, maturing $720 yearly on Oct. 1 from 1903 to 1906, inclusive; awarded to the New First National Bank of Columbus at 10«-08. 650 East Myrtle Avenue bonds, maturing $1.3'': vearlv on Oct. I from 1902 to 190O, Inclusive; awarded tothe 1- iremen's Pension Fund of Youngstown at 104*54. 750 East Mynle Avenue grading bonds, maturing $150 yearly on Oct. I from IK02 to i9oa. inclusive; awarded to the Firemen's Pens. on Fund of Youngstown at 104"54. ; maturing $3,000 each six months from.March Co.. N. Y^.t'-^i-oO York,...101"i>0 Vounesiown Ht lO'*. 2,900 Soutti I'belpB Street paving bonds, matnrine $B8o yearly on Oct. 1 fronx J902 to 190rt, inclusive; awarded to the Firemen's Pension Fund of YounB8t</wn at 104'54. 1,100 McGuffey Street grading bonds, maturing, $220 yearly on Oct. I from 1902 to 1900, Inclusive; awarced to the Firemen's Pension Fund of Yourigstown at 104'34. 460 Burnett streft grading bonds, maturing $90 vearly on Oct. 1 from 190Z to 1900, inclusive; awarded to the Kiremen's Pension Fund of , 1902, to Barnum & W. K.Todd 4 Co., New 102 93 1<.2 93 Yoangstowo, Ohio.— Bond Sate —On May isflupp of street bonds were awaid^d a* follows , 1, l.awrence lo.r.l For deeCiiption of bonds see Chronicle blank bonds free of chart e. maturinK $2,000 each six months from March : Jno. D. Kveriti t Co.. N. Y Geo. y. Hahn. New York M. A. Stein, New York For description of bonds see Chronicle May 25, p. 1053. Wilmingtoii, Dtl.-Bond Sale.-On May 25 the $40,000 A% sinking fund bonds were awarded to Estabrook & Co Bos3'62i^^. For deton, at lOb-05— an interest basis of about scription of bonds see Chronicle May 11, p. 953. Wood tounly (P. 0. Bowling (ireen) Ohio.— Bond Offering.— Proposals will be received until 12 M June 17, by b. C. Harding, Ccunty Auditor, for the following bonds 120,000 5^ road bonds, Sept. 1, IwuB, 12,C00 6^ road bonds, Sept. 1, lUul, They are 1901. 1 M. lOB'^ . ON AFPLICATIOK. Stanwood &. Co.. BANKERS, ILX,S. 121 Devonshire Street* BOSTON. f THE CHRONICLE. 1100 [Vol. ^tuancial. %nvtstmtnts. Geo. D. Cook Company, CERTIFICATES INVESTKEHT SECURITIES. 238-240 La Salle Street, pany of The Audit ComYork covering ac- MUNICIPAL, RAILROAD AND CORPORATION BONDS. FARSON, LEACH & CO., dation. May be consulted for advice on any subject requiring knowledge of correct mortgages covering industrial and other bonds — in cases of special agreements which safeguard to certify whether tlie lien or income such provisions are being carried out. SOUTHERN AND WESTERN in — SECURITIES. D. H. LITERMORE, SUCCESSOR TO QUEEN $3,000 WATER BONDS. 101 AND INTEREST. Cedar OFFERED AT CO., Woodstock. Tt. Sts., HASKINS & 304 Dearborn SELLS, NEW YORK. 30 Coleman St., CHICAGO, ILL. ASSETS REALIZATION ever received this— the highest honor that can be conferred. It means they are the most perfect made. Insist on having them for your fine correspondence and your ofiBce stationery. Are you usinf Whiting's, Ledger Papers in you Blank-book 1 Samples and booklet free. CO., WHITING PAPER COMPANY, 142 So. Fourth St., Philadelphia, holyoke, mass., Will buy the assets of estates St., where in the United Examinations and invettigationi conducted with the utmost > corporation and other commercial matters, also graduate of German Law School, intending to take up his residence in Berlin, wishes to represent as Attorne? or Agent corporationa and other responsihle concerns in England and Germany. Heferences. Please s^ddiess ATTORNEY, care of COMMERCIAL & FINANP. O. Box 95!!, City. Patterson, Teele & Dennis, CERTIFIED PUBLIC ACCOUNTANTS, KEISTER & CO., Public Accountants and Auditors, 60 \yall I< A Numbers Wanted. Issues of Jan. 17, 1891 Jan. 14, 21, Feb. 4, 11, May 13.20,1893; May 11, June 29, 1895 Jan. 4, Feb. 22, 1898 Jan. 8, 1898 Jan. 14, 21, 28, Feb. 18, 1899, and Jan, 12, Feb. 2, 1901. IirvKBTORS' SUPPLEMBNT Jan. and July, 1808, Jan., 1898 and Jan., 1899, Jan., 1900. ; ea WAZZ, 8TSXJBT, 83 KSW YORK. H AHN, 10 Wall 1952-3. 15 cents for the B. DANA COMPANY, 76M Pine Street. St., New York. OnandafterJUNESd, 1901, Company will be In the Western Union RROADTYAT. The Benrer & Rio Grande ER. CO., Benefit NEWARK, BuUding.at 195 .... STOCKS, BONDS, GRAIN. COMMISSION 1-16TH. Statistics upon Application. Established 1868 SECURE BANK VAULTS. President Assets (Market Values) Jan, 1, 1901. ...$74,311,*68 85 and N. Y. SUndard) 68,186,103 34 Liabilities (N. J. . Surplus 6,126,364 »1 POLICIES OP GENUINE WELDED CHROME STEEL AND IRON Special and Peculiar Advantages which are not combined Co. N. Y. Con. Stock Exchange. N. J. Contain theoflScesof H. Smith, Fred. Tel. 2886 Cort. MUTUAL BENEFIT POLICIES Removal Notice. this LIFE INSURANCE AMZI DODD, Supplements. WILLIAM LOCAL INVESTMENT SECURITIES CITY RR. AND GAS CO. BONDS. Book of Railway The Mutual IN Bought, sold and carried upon moderate margin. ; Quotation Supplement Jan., 1899, and Jan, I9ni. Will pay 10 cents a copy for the Chronicles and DEALER Member ; ; Floyd, STOCK BROKER, 66 BROADWAY, N, Y. New York. Illinois Cent. Coll. 4s, STOCKS. PINE STREET, NE\r YORK, Co., BANKBRS AND COMMISSION MERCHANTS 33 Wall Street. CO. MUNICIPAL. BONDS. & R. T. Wilson M. G. Augustus E MANUFACTURING COMPANY, York. INVESTMENT SECURITIES. AU N_ SPECIALTIES. THE AMERICAN New BANE AND TRUST J A ^ 8 N V i street, ne\y york. Chronicle Duane Street, New York. 2 l¥all Street, Haw York, SO Broad Street 150 CLINTON GILBERT, CORDAGE m s NEW YORK ATTORNEY In States. TRANSMISSION ROPE. Booka audited. With laree experience And in process of liquidation, any- p^^™,^^ iKkfui «0S1UN, MASS. care and efficiency, PAPERS. They are the only American papers which have Ashland Block, Chicago, Accountant, D. A. PRIX. WAS AWARBBD AT THB PABIS BXPOSITION TO WM. FRANKLIN HALL CIAL CHRONICLE, THE GRAND WHITING'S STANDARD LONDON, E.C, Exchange Buildinor, 53 State Street, over #-<,000,U00. Innurniice In Force, over $40.000.000. /Isfiets. Chicago. Citv. Certified Public Accountants, ST., immediate return for their tvork, hiit also inereuainf/ annual income commensurate with their success, are invited to communicate with RICBARjy E. COCHRANf Third Vice-President, at the Company's Office, 277 Broadway, New York City. La Salle & Monroe Sts., ^cc0uutatits. BROAD .... N. Y. LIFE BLDG., BITILDIHO, & William New Tork Bonds approved by Attorney General. Write for circular giving full particulars. 30 Geo. G. Williams, Pres. Ohem. Nat. Bank . John J. Tucker, . . Buiuter E. H. Perkins Jr., Pr.Imp.dTrad. NatBk. LIVERMORE NEW YORK. The AuditCompanyofNewYork CORPUS CHRISTI. TEXAS, & YORK. an May be named H. B. POWELL. THE CITY FINANCE COMMITTEE: commercial practice. <& Co. OF NEW and bond capitalization. James R. Plum, Leather Arbitrates upon conflicting financial inA^ctive and tiucceaaful Agents who desire terests of industrial firms and compan- to make DIJtECT CONTRA CT8 with this well-efttahlished and protjreasive Company ies, providing a fair basis for consolithereby securiny for themselves not only an NEW YORK. ROSENBEKGER Life Geo. H. Burford, President. for stock LIST. June Investments, NASSAU STREET. States Insurance ments. Aids clients to determine proper plans 31 The United and are often made the in The Audit Companv CHICAGO. ^^^^ basis of important underwriting agree- N. T. Office, 1442 Broad-Exchansre Bldgr. SEND FOB 1850.^ counting and physical examinations of properties are accepted by financial houses, CHICAGO. g'ittattctal. of New LXXn, in the ANT OTHER COMPANY. 'iound and Flat Bars and 5-ply Plates and Anglef FOB SAFES, VATJLT8, &0. Cannot be Sawed, Cut, or drilled, and positively Burglar Proof. CHROME STEEL WORKS, Kent Ave. Keap and Booper St«., '8 iieMan'f'erslntheD.S. BROOKLYN. M.Y.