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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

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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

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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:

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—

—

:

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.

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:

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:

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.