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•
UMV. OF
Mm s m
INCLUDING
Bank and Quotation
State and City Section (semi-Annually)
Section (Monthly)
Street Office
Railway
Section
of Librarian of Congress, Washington, D. a
Railway and Industrial Section (Quarterly)
Act of Congress in the year 1907, by William B. Dana Company, in
A weekly newspaper entered at Poet Office, New York, as second-class matter—William B. Dana
Entered acoordlng to
financial.
THE LIBERTY
FISK & ROBINSON NATIONAL BANK,
financial.
financial.
AMERICAN BANK
NOTE COMPANY
BANKERS
»
Printers
BANK NOTES, SHARE
CERTIFICATES,
GOVERNMENTS AND COR¬
PORATIONS, DRAFTS, CHECKS, BQJL8
OF EXCHANGE, STAMPS, BTC, WITH
SPECIAL SAFEGUARDS TO PREVENT
COUNTERFEITING J* LITHOGRAPHIC
BONDS FOR
AND TYPE
RAILWAY
IMPROVED' STYLES
PRINTING
TICKETS OF
BOSTON
NEW YORK
Bank
The National Park
York.
of New
1896.
Organized
83,000,000 00
8,643,154 03
102,613,140 03
Capital
Surplus and Profits..
Deposits May 20,1907
Capital, Surplus and
$3,250,000.
Vice-President.
Harvey Fisk & Sons,
62 CEDAR ST.
President
Vice-President
Vice-President
-
•
-
•
.
-
.
-
VICE-PRESIDENT.
JOHN G VAN
VICE-PRESIDENT.
Secretary
MAURICE H. EWER,
Francis L. Potts
Andrew V. Stout
Edmund C. Converse
Warren L. Green
Phineas C. Lounsbury
WILLIAM A MAIN
WILLIAM O. JONES,
ASST. CASHIER.
PREIPK O.
A. Jaretzki
in
Railroad and
Municipal Bonds,
and uther
CASHIER.
Chairman of the Board
NEW YORK
Government,
CLEAF,
Treasurer
TRUSTEES:
T. H. Freeland,
JOHN C. McKEON,
VICE-PRESIDENT:
GILBERT G. THORNE,
-
Bankers and Dealers
PRESIDENT.
Warbkn L. Green,
D. E. WoODHULL, Joseph Fleming, Chas. L. Lee, Frank K. Johnson,
Undivided Pruitts,
FRED’K B. 80HXNCK. President.
CHARLES H. STOUT
D. G. REID.
Vice-President.
CHARLES W. RIKCKS,
JAMBS V. LOTT
2d Vice-President.
Cashier.
HENRY P. DAVISON,
FRBD’K P. MOGLYNN
Chairman Exec. Com.
Asst. Cashier.
DIRECTORS:
K. C. Converse,
Geo. F. Baker,
T. A Gillespie.
Henry C. Tinker
F. L. Hina
E. F. C. Young,
H. P. Davison.
Daniel G. Reid,
Arthur F. Luke.
Charles A Moore,
J. Rogers Max welt,
Charles H. Warren.
Moueli.
Ambrose
Frederick G. Bourne.
Fred’k B. Sohenck.
Charles If. Stout.
DELAFIELD,
RICHARD
OFFICERS
1
NEW YORK.
Government Bonds
Investment Securities
78 to 86 Trinity Place, New York
Badness Founded 119*. Reorganised 1819
Engravers
NO. 2188.
JUNE 1 1907.
NEW YORK
VOL. 84.
Company, Publishers, 76J4 Pine St., N. Y.
ASST. CASHIER.
FOXCROFT ASST. CASHIER.
INVESTMENT SECURITIES.
Philadelphia,
represented by
James H. Chapman,
Chicago,
Our list of
421 Chestnut St
represented by D. K. Drake,
Continental National
Bank Building.
Investment Securities sent on
application.
CHARTERED 1810.
and Baltimore
Exchanges.
Members of Richmond
Stock
MECHANICS’ NATIONAL.
John L. BANKERS,
Williams & Sons,
Corner 9th and Main
,
Correspondents:
MIDDENDORP,
Edward B. Smith & Co.
33 Wall Street.
BANKERS
Streets,
Capital,
RICHMOND, YA.
Baltimore
BANK.
-
-
-
Surplus,
WILLIAMS & CO
$3,000,000
3,000,000
Main Streets,
$1,500,000
Capital & Surplus,
OFFICERS:
JOHN SKELTON WILLIAMS, President.
FREDERICK E. NOLTING. Vice-President.
T. K. SANDS, Vice-President & Cashier.
H. A. WILLIAMS, Asst. Cashier.
L. D. CREN SHAW JR.. Trust
511 Chestnut Street
Philadelphia.
Welsh,
INVESTMENTS.
ORIGINAL CHARTER 18291
AND OTHER
MUNICIPAL RAILROAD
THE
BONDS.
Officer.
Chase National Bank
and Pliila. Stock Exchanges.
New York.
Francis Ralston
Richmond, Va.
Members New York
7 Wall Street.
Bank of Richmond,
N. E. Cor. 9th and
INVESTMENT SECURITIES
328
CHESTNUT STREET,
PHILADELPHIA.
GALLATIN
Clearing House Building
Cap.&Surp., $9,436,000 Deposits, $63,345,000
HEPBURN, President
A. H.WIGGINVice-Pres. K. J. STALKER, Cashier
A B.
Directors:
Henry W. Cannon.
«■
NATIONAL
OF THE CITY OF
BANK
NEW YORK
—CORNER NASSAU AND
STREETS
—
IS
PINE
ESPECIALLY |
ARRANGED FOR HANDLING i
MERCANTILE ACCOUNTS,
BANK,
Sixth Are.,
New York.
A Barton Hepburn
George F. Baker Jr.
EQUIPMENT OF THE
FOURTH
23d Street and
Chairman. James J. Hill
F. Baker John L Waterbury
Oliver H. Payne George
Grant B. Schley
Albert H. Wlggin
THE
GARFIELD NATIONAL.
Capital
Surplus
-
Capital
Surplus Sc Profits
-
YORK
$1,000,000
(earned) 2,300,000
OFFICERS
1 000 000
Samuel Woolverton, President
Alexander Hi Stevens, Vice-President
Founded in 1784,
George E. Lewis, Cashier
Howell T. Manson, Assistant
THE
BANK OF NEW
national
OF THE CITY OF NEW
$1,000 000
-
-
NATIONAL BANK
YORK
Banking Association.
DIRECTORS
Adrian Iseltn
Jr.
Chas. A Peabody
Frederic W. Stevens
Samuel Woolvebxow
h. Stevens
W. MhfTjni Roosevelt
Charles H. Tweed
Alexander
ACCOUNTS INVITED.
Cashier
Thomas Dsmrr Ja,
w
^jorrigti gscTianric.
jankers and JDrauuers rrf
T.
[VOL. LXXXIV
THE CHRONICLE.
n
•
& Co., Kidder, Peabody & Co.,
Morgan & Co., Maitland,Coppell
WILLIAM STREET,
CORNER BROAD.
P.
WALL
52
STREET
NEW YORK.
NEW YORK.
&n,Harjes&Co.
Drexel & Co.,
Cor .of 6th &
levard Hanssmann,
Chestnut Sts.
DOMESTIC AND
Securities.
negotiate ami
Orders executed for all Investment
Act as agents of Corporations and
issue LoauB.
Bills of
Letters
FOREIGN BANKERS.
ATTORNEYS and
No. 22 OLD
agents of
-
BOSTON.
NEW YORK,
59 Wall St.
ALEX. BROWN ft
BANKERS.
of Credit,
Messrs. Mallet
Prerea Sc Ole., Paris,
FOREIGN EXCHANGE.
LETTERS Of CREDIT,
And It* Branches.
Agent* for the Bank of Australasia, the
Guiana Bank, Demerara, etc., eta
TRAVELERS' LETTERS
Available throughout the
Go.,
BANKERS,
No. 23
York Stook Exchange.
Correspondents of the
Measra. ROTHSCHILD,
London, Parla and Vienna.
ISSUE LETTERS OF CREDIT
FOR
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT
Buy and sell BUI* of Exohange
and make cable transfers on all
points. Issue Commercial and
Travelers’ Credits, available in
all parts of the world.
Letters
of Credit.
TRAVELERS,
Available in all part* of the
of Exchange and make
on
Draw Bills
Transfer* to
BANKERS,
New York.
No. 21 Broad Street,
Agents and
Securities.
United
United
States on foreign countries, including South Africa
NASSAU STEET.
J. & W. Seligman & Co.,
Member* of New
St’k Exch's.
favorable terms. Collect
drafts drawn abroad on all points In the
States and Canada; and draft* drawn in the
British
OP CREDIT
United State*.
August Belmont &
Investment
BROWN, SHIRLEY &
INVESTMENT SECURITIES.
Nnctonal de Mexico
Banco
WIRE.
Phlla„ Boston A Baltimore
Buy and sell first-class In¬
vestment Securities on com¬
Receive accounts
mission.
of Banka, Banker*. Corpora¬
tions, Firms and individuals
Rank, Limited,
London,
SONS, BALTIMORE.
CONNECTED BY PRIVATE
Mems. N. Y.,
LONDON.
-
Brothers & Co.,
PHILA.
Telegraphic Transfers,
Union of London Sc Smiths
MORGAN Ac CO.,
BROAD STREET,
Brown
BOSTON.
ON
Deposits received subject to Draft. Securities
bought and sold on Commission. Interest allowed on
Deposits. Foreign Exchange. Commercial Credit*.
Cable Transfers.
Circular Letters for Traveler*
available In all part* of the world.
Messrs. X. 8.
Exchange,
PARIS.
riIIL.ADEL.PUIA.
DEVONSHIRE STREET,
115
world.
Telegraphic
Issue Letters of Credit to Travelers
Available in anv Part of the World.
DRAW BILLS OF EXCHANGE
TELEGRAPHIC TRANSFERS OF
EUROPE, CALIFORNIA
ISLANDS.
AGENTS AND
Securities.
CORRESPONDENTS OF
and sale Seligman Brothers, London.
Seligman Freres Sc Cle., Paris.
Alsberg, Goldberg Sc €0., Amsterdam.
Execute orders for the purchase
ol Bond* and Stocks.
CO., LONDON.
MONEY TO
AND THE HAWAIIAN
Buy and Sell Investment
EUROPE,' Cuba, and the
Indies, Mexico and California.
other West
AND MAKE
Cuyler, Morgan & Co.,
Anglo-CalIloriilanBk.,Lt.,SaiiFrnuciMco
New York.
44 Pine Street,
BANKERS
INVESTMENT SECURITIES.
"IAILER&CD
MEMBERS OF NEW YORK-
27 Pine Street, New
York
KESSLER
STOCK EXCHANGE.
54 WALL STREET, NEW YORK.
Members of the N. Y. Stock Exchange.
INVESTMENT
of Exchange and
Buy and Sell Bills
SECURITIES
all the
Principal European Cities.
Cable
33 Pine Street, New
& CO..
BANKERS.
BANKERS
MmtiMa.
Transfers on
AND
TRAVELERS’
COMMERCIAL
CREDIT8, BUY AND SELL RAILROAD
8TOCK& BONDS AND INVESTMENT
SECURITIES. ACT AS FINANCIAL
AGENTS FOR CORPORATIONS.
Cables
York
“Mimosa”
Do a General Foreign and Domestic
Banking Business and issue Letters of
Bills of Exchange and Cable
Members New York Stock
Exchange; Execute Commission Orders.
Foreign Cable Service a Specialty
Credit,
Transfers.
ISSUE
Winslow, Lanier & Co.,
CEDAR STREET,
09
NEW
INVESTMENT SECURITIES.
Philadelphia* 507 Chestnut
Street
Heideibach. Ickelheimer & Co..
YORK,
BANKERS,
BANKERS.
37
William Street,
STOCK EXCHANGE.
Deposits Received Subject to Draft. Interest
Allowed on Deposits. Securities
Execute orders for purchase and sale of
Bought and Sold on
Stocks and Bonds.
MEMBERS N. Y.
Commission.
Foreign Exchange,
Graham 3c Co.
BANKERS
Letters of Credit.
Kean,VanCortlandt&Co
Foreign Exchange Bought and Sold.
Issue Commercial and Travelers! Credits
available in all parts of the world.
Schulz &
Ruckgaber,
BANKERS,
BANKERS,
11 William
Street,
-
607 Chestnut Street,
PHILADELPHIA
Government and Municipal
Bonds,
Securities of Railroads, Street
Railways and Gas
of
New York.
York Stock Exchange.
Correspondent* of Messrs.
....
Fruhllng & Qoschcoi London,
...
Job, Berea berg, dossier & Co.. Hamburg.
- - Marcuard & Co.. Paris.
Bremer Bank. Fill&ie Dresdner Bank, Bremen,
issue Commercial A Travelers' Credits.
Buy and Sell BiDs of Exchange.
Cable Transfers and Investment Securities
established
companies
value
Members New
80 PINE
Transact
a
STREET, NEW YORK.
General Foreign ana
Domestic
Banking Business.
Dealers in
Tohn
Investment Securities.
Munroe
Street, New York.
Square, Boston.
Circular letters of Credit for Travelers’ Use
No. 30 Pine
Issue
Abroad Against
Guaranty
Cash or Satisfactory
of Repayment.
Exchange on London, Paris,
Zurich and St* Gall.
Credits Opened and
Lerlln,
Paris House—MUNROE Sc
CO.
Financial Agents
Foreign and Domestic
Credit and
•16 '& 18
Bankers,
50
Wall Street, New York.
Letters of
Travelers* Cheques
EXCHANGE PLACE,
NEW YORK.
Interest al¬ COMMERCIAL CREDITS,
credit* available'throughFOREIGN EXCHANGE.
Deposit* received subject to draft.
lowed on deposit*. Securities bought
and sold on
commlfesten. Traveller*
out the United State*, Cuba, Puerto Rloo, Mexico,
Central America and Spain. Make collection* in and
issue draft* and cable transfers on above countries
Bankers: — London Joint-Stock
Bnnk, Limited.
Paris Bankers!—Heine Sc Co.
London
Payments Made by Cable
Issue
as
LawrenceT urnure&Co. MOSLE BROTHERS,
& Co.,
No. 4 Post Office
Act
Attorneys and
MESSRS. KONIC
Agents of
BROTHERS-Bankers
LONDON.
ui
THE CHRONICLE.
June 1 1907.
ISatikctrs.
gankevs.
Wm. A. Read & Co.
Millett.Roe & Hagen
jankers.
BANKERS.
Co.,
Lee, Higginson &
44 State
3 Broad
CHICAGO OFFICE,
•-
Tli« Rockery.
43 Stale 81.
303 E. German St*
305 La Salle St
BALTIMORE.
CHICAGO.
BOSTON.
Dealers in
HIGH-GRADE BONDS
NASSAU STREET,
NEW YORK.
26
Xew York.
Street,
Investment Securities.
BOSTON.
Street,
BANKERS
Members New York Stock
Boston, 10 Pott
andBoetoa
Stock Excbapgeeu
Members New York
Office Square.
Members N. Y. Stock
Plympton,Gardiner & Co*
Members New
Exchange.
Exchange
CO.
J. B. RUSSELL &
BANKERS
York and Chicago Stock
46 WALL ST.,
Exchanges
NEW YORK,
DEALERS IN
27 William St.,
New York
50 Congress St.,
232 La Salle St.,
Chicago.
Boston.
Conservative Investments.
High-Grade Bonds
AND
Investment Securities.
Safety Deposit Vaults for
LISTS ON- BEQUEST
iti
h
members:
N.W. HARRIS & CO.
BANKERS
j Ch|ca|ro stock Exchange.
Harris Trust & Savings
CHICAGO
N.W. Harris & Co.
BOSTON
Receive deposits
as
and
letters
of
corporations.
credit
BRANCH OFFICES:
In
EXCHANGE PLACE, NEW YORK.
Members of New York Stock Exchange.
purchase and
and Bonds.
of
Stocks
Co.
Kissel, Kinnicutt &
37 Wall
Street, New York.
Foreign and Domestic
Execute orders for
sale
LIST ON APPLICATION
NEW YORK
35 Wall Street
43
INVESTMENT
BONOS FOR
Investment Securities
Automatic
BANKERS
Issue
deal
and
Company.
Goldman, Sachs & Co.,
subject to check
on balances.
fiscal agents lor munici¬
palities
Representatives of the
Bank
and allow Interest
Act
the Illinois Tunnel
Railroad and other
CHICAGO, ILL.
CARBONDALE, PA.
READING, PA.
WILKES BARRE, PA.
SCRANTON, PA.
DAYTON, OHIO.
BINGHAMTON. N. Y.
William
Pine Street, Corner
NEW YORK
Exchange,
5 New York Stock
Electric
bankers
Use of Customers.
Financial Representatives of
Company.
Financial
Geo. P. Butler & Bro.
BANKERS
Buy and Sell Foreign Exchange.
CABLE ADDREdH "OOLDNKStt. '
BILLS OF
EXCHANGE
CABLE TRANSFERS
Blake Brothers & Co.,
60
84 State Street,
Exchange Place,
BOSTON.
NEW YORK,
Dealers in
DEALERS
Investment Securities.
Members New York & Boston Stock
Exchanges.
GOODWIN
BANKERS
Corporation Loans,Collateral Loans
Commercial Paper
Draw Bills of
Charles
35
Trust Issues.
Congress St
BOSTON
Head
1st
Nat.Bk.Bldg
CHICAGO
&
Co.,
Members of
New York and Boston
17 Broad Street,
NEW YORK
Stock Exchanges
74 State Street,
BOSTON
King St., West, Toronto, Ont.
86 St. Franols Xavier, Montreal, Que.
20
Private wires connecting all office*.
Exoluslve private wire to
CO.
Cobalt, Ont.
N. W. HALSEY &
Exchange and make
Asia, Aus¬
CO..
BANKERS.
New York.
BONDS
FOR
INVESTMENT.
Deposit Accou nts.
tralia, the West Indies, Central and Fiscal
Agents for Cities and Corporations*
South America and Mexico.
Issue Letters of Credit for Travelers,
49 Wall Street, NEW Y0B1L
available in all parts of the world.
Philadelohia* Chicago. San Francisco
Interest Allowed on
Zimmermami & Forshay,
BANKERS.
High-Grade Investment Securities
Broadway.
INVESTMENT SECURITIES
Cable Transfers to Europe,
also
NEW YORK
IN
Investment Securities
Cor. of Wall and Broad Sts.,
Commercial Paper.
Ill
of the world.
H. B. HOLLINS &
MUNICIPAL BONDS.
Railroad Equipment
EUROPEAN
POINTS
and Commercial Paper
and other
&
Available In all parts
COLLECTIONS MADE ON ALL
CITY
NEW YORK
BOND
Issue Commercial and Travelers*
Letters of Credit,
9 and 11
NEW YORK.
PHILADELPHIA
Wall Street, New York.
Members New York
Stock Exchange.
for invest¬
Orders executed for stocks-and bonds
ment or on margin.
FOREIGN EXCHANGE
Bought & Sold
LETTERS OF CREDIT ISSUED.
Cable Transfers to all Farts of the World.
BIRD 8.COLER,
Member N. Y. Stock Exchange.
E. D. SHEPARD & 00.
LONDON
BOSTON
LEONARD H. HOLE.
W. N. COLER &
CO.,
BANKERS
59 CEDAR ST., NEW YORK.
INVESTMENTS.
Stern &
Schmidt,
FOREIGN EXCHANGE,
INVESTMENT SECURITIES*
STREET. NEW YORK.
Member* N' Y. Stock. Cotton end Coffee exchangee
27 WILLIAM
[VOL. LXXX1Y
THE CHRONICLE
nr
©auadtau
tfureiotL
BANK,
DEUTSCHE
BERLIN, W.
CAPITAL
The Union Discount Co. Bank of Montreal
(ESTABLISHED 1817.1
of London, Limited.
Telegraphic Address, Udlsoo,
$47,619,000
..
800,000.000.
M.
M.
NOTICE IS HEREBY
last tin niu:
10,10H. 11,11,11.11,11.18,19.18 per cent.
OmsnrDi paid during
as
BREMEN, DRESDEN, FRANK FORT-ON-M„
MUNICH.
HAMBURG,
LEIP8IC,
NUREMBBRO. AUGSBURG
WIESBADEN,
AND THE
Deutsche Bank (Berlin) London
Agencvt
Lombard 8t.
(Deutsche Ueberseeiaohe
Capital
M.
Etarte
throughput the Dominion
London
First-Class Investment
8,088,000
NEW
Manager.
French
foreign.
The London
Midland Bank,
PARIS,
YORK,
street.
9. roe
Broad
25
Plllet-WlU
5
Branchest
City &
Limited,
HEAD OFFICES
BERLIN.
AunrmA; Bahla-Blanca,Bell-Vllle,Buenoa
Threadneedle St,
Office, No. 46 A 47
FINANCIAL AGENTS IN
ACT AS
HEAD OFFUCEi
> Agents.
)
of Canada.
F. W. Taylor,
8698,000
M.
)
Buy and sen Sterling and Continental Exchange
and Cable Transfers; grant Commercial and Trav¬
elers' Credits available In any part of the world;
issue drafts on and make collections in Chicago and
SECURITIES.
Find
President
PINE STREET
B. Y. Hebdbn,
W. A. Bog,
J. T. Molineux,
FRANCE
$4,761,000 FOR AMERICAN RAILWAY CORPORATIONS
84.190,000 IN THE OBTAINING OF LOANS AND SALK OF
17,000,000
11,000,000,00
159,881.84
Market.
Bank.)
Subscribed Capital
M. 80,000,000
.
NEW YORK OFFICE:
FRENCH FINANCE CORPORATION
OF AMERICA.
UHCO MEDIAN TRANSATLANTIC!)
.
Honorary
No. 31
receives money on deposit
at rates advertised from time to time, and grants
loans on approved negotiable securities.
CHB1810PHLR R. NUGENT. Manager.
Securities tor the
Paid Up
K. 8.
Call, 234 Per Cent.
Purcbasars of
-
Drummond K.C.M.G. President
CLOU8TON..Vice-Prest. and General Manner
cantile acceptances,
LONDON, E. C.
-
-
Hon. Sib George A.
deposil are
At|3 to 7 Days’ Notice, 214 Per Cent.
The Company discounts approved bank and mer¬
Branches:
$14,400,000.00
-
Head Office—Montreal.
strathcona and Mount Royal
follows:
At
-
Bt. Hon. Lord
G. C. M. G
GIVEN that the RATES
INTEREST allowed for money on
OF
4 George Yard,
87*800,000
3,750.000
3.350.000
85—£1 STERLING.
100,000,800.
-
REST
UNDIVIDED PB0FITS
London.
Capital Sabserltied
Paid Up.
Reserve Fuad
B3S.810.0e0
RESERVE
paid in
CAPITAL
89 COUNHILL.
13.
BEHREN8TRA88E 9 TO
fgauhs.
With Branches In all the Principal
of England.
Aires,
England.
Threadneedle Street, London,
Cities and Towns
Cordoba, Tueuman
BOLIVIA: La Pas, Omra
Ohttj : Antofagasta, Concepcion, Iqolqne, Osorno,
Puerto Montt, Santiago, Valdivia, Valparaiso,
fno: Arsqalps, Callao, Lama.
UXDeVAT: Montevideo.
BP AH: Barcelona, Madrid.
Bills sent for collection, negotiated or
SWISS
BASLE, ZURICH, ST.
advanced upon.
Drafts, cable-transfers and
of credit issued.
BANKVEREIN
ESTABLISHED 1836.
SUBSCBIBED CAPITAL,
PAID-UP CAPITAL,
BESEBVE FUND,
GALL,
GENEVA, LONDON.
letters
Telegraphio Address: Cinnabar, London.
$75,428,400
15,714,250
15,714,250
HOLDEN, M.P., Managing
Director.
Fr. (52,800,000 BOISSEVAIN &
34 BROAD STREET,
Fr. 14,280,000
CO.,
E. H.
Condon Agents.
Deutsche Bank (Berlin) .London agency.
4 George Yard, Lombard st„ London.
E.C.
Capital, Paid Up
-
Surplus
NEW YORK.
Direction der
Members New
Adolph BoUsevain & Co.,
Disconto-Gesellschaft,
Amsterdam. Holland.
Established 1851.
BTINTBRUCKK 1
FRANK KO KT-ON-M*
LONDON, a C..
58 CORNHILL.
Rossmarkt 18.
Handels-Gesellschaft,
BERLIN, W.,
and Fransosische-Strasse 48
Telegraphic Address. Disoontoge, Berlin.
-
“
•
**
*•
•
Disoontogk, Fbanktcrtmain.
schwolde, Brim in.
Soondito. London.
CAPITAL* tally paid,
Behrenstrasse
Telegraphic
88-88
Address:—Handelschaff, BerMn.
$40,476*200
-
THAN8ACT A GENERAL
AND STOCK EXCHANGE
Berliner
BREMEN.
BERLIN. w„
48-44 BKHRKN STRASSX.
WWi ike unlimited personal liability
Ike following partners:
I
M. BCKUKXKL,
A- Salomonsohn
I
fur
Banking Transactions
of
Capital,
Reserve liability of stockholders..
Reserve fund
Undivided protits. 1906.
-
-
Santok,
BANKING
CAPITA I
M 10.000,000 00
HAMBURG, with branches In CHILI (Banco de
Chile A Ileuada); Valparaiso. i*anUago. Coucepcion. Tejnaco.
Antofagasta; and tn BOLIVIA
(Banco de Chile A Alemanla, Secdon Bollvlana),
La pax and Oraro.
35 COHNIIILL,
-
Addreee—Natdls, London.
$31,166,635
bed Capital
Paid-Up Capital
Reserve
C.
-
Hu beeri
Fand
(86—£1 STERLING.)
NOTICE IS HEREBY
as
4,381,335
3,000,000
Currency)..f10,000,000
10,000 00#
of Proprietor!*
LITTERS OF CREDIT, NEGOTI¬
PAYABLE IN CHINA. JAPAN,
PHILIPPINES, STRAITS SETTLEMENTS, INDIA, ETC.
WADE UARD’NEll, Agent, 50 Wall 81.
GIVEN that the RATES
INTEREST allowed for money on
INTERNATIONAL BANKING
CORPORATION.N - ttJf ViFE*"*
CAPITAL. A SUUPI.US,
deposit are
follow#:
Call, 2lA Per Cent Per Annans.
14 Days’ Notice, 214 P. C.
Approved bank and mercantile bills discounted.
Mosey resolved os deposit at rates advertised from
time to time, and tor fixed periods upon terms to be
especially agreed npon.
Loans granted on approved negotiable securities.
*6,500,000
Buy and Hell .Sterling and continental Exchange and
Cable Transfers. Negotiate. Draw or Receive
for Collection Bills on Points in the
Orient,
Dane Letter? ot
Branches at London,
pore,
Kobe.
Credit
Bom bat, Calcutta, Singa¬
Canton, hong Kong. Manila Shanghai,
Yokohama. San Francisco. City or
Mexico.
Washington, 1).
C.. Panama, Colon.
At
At 8 to 7 or
The alwove-named banks. founded and represented
is Europe hr the
lltrrcQva 4er Ut»c«nuMisMlltchslt,
HtULiSi li RIM IN. FRANKFORT O/M AND JyONDON
IsiSdeiucks hank la Uuuiburg,
'1 a xirw:, Oder their eerrioes for erery devcr.ptiOL
of regular banking transactions.
Kong
) JS S1^2r‘ *ii:o00:8o01 - *1.000.00«
The National Discount
Company, Limited.
LONDON. E.
OF
CORPORATION.
Paid-up Capital (Hong
lUMrve Fund,
GRANT DRAFTS, ISSUE
ATE OR COLLECT BILLS
Cable
Bank fur Chile und
Deutschland.
York
Hong Kong & Shanghai
M.100,000,000
M. 29,000,000
Bank ~
M 10,000.000 OO
of credit
Agent,
Brtice-Webaler
Reserve Liability
Deutschland.
$6,000,000
6,000 000
7,376,000
465.000
of Every Description.
F. Urbig.
HAMBURG.
lit a 3 Office.
Branobet: Kio de JAKiitt*, Sao Pauxo.
Porto Alegre.
-
Reserve,
J. Horria,
K. BussSLR,
Brasilianische
CAPITAL
Capital
G.
57,500,611.
A. Bchokllir,
of India,
Australia and China
88 Wall Street, New
$18,712,526
....
M.
Bank
Chartered
BANKING
BUSINESS.
DRAFTS, cable transfers and letters
BRANCHES THROUGHOUT ASIA
ESTABLISHED 1866
M. 17U.OOO.OOO.
BE8EBYE,
York Stock Exchange.
PHILIP HAKOLIl
WADE. Manager.
H. SCHERER
& CO.,
8ANKERS.
Collections, Foreign Exchange
ment Hecu rifles.
und invest¬
MEXICO.
June 1
ganhs and Hankers.
Hanks.
©atutdiatt
THE CANADIAN BANK
OF COMMERCE,
HBAD
*10.000,000
ft,000,009
BANKERS
OFFICE:
NXW YORK
lft Wall Street,
Nta. 10 AMD 18 EXCHANGE PLACE,
Wml Obit and H. B. Walkxb. Agents
Ex*
enaerolal
LONDON
The Bank of
British North America
1880.
Royal Charter in
Nassau and Pine Streets
ESTABROOK & CO.,
15
STREET, NSW YORK.
BBOAD
94
Geo. A. Fernald &Co.
INVESTMENT SECURITIES.
London, E. C.
New York Ofllce: 52 Wall Street
H.‘ M. J. McMI CHA EL. 1 Agents.
/
W.,T. OLIVER
5 GraceeOurch Street.
members Beaton
Wail St.
W. M. Kamsay, Agent.
118 branches tn the Provinces of Quebec. Ontario,
Manitoba. Saskatchewan, Alberta and British Co¬
lumbia. Good facilities for ejecting prornot collet
tion8 in Canada
Buy and sell Sterling Kschnnge
and Ca»>ie
Commercial and Trav¬
part of the world.
Agents—itoyal Hunk of (Scotland.
Transfers.
Issue
elers’ Credli s, available in any
London
Sovereign Bank of Canada
The
71
and other
Corporation Bonds
NEW YORK
BOSTON
BANKERS
86,000,000
3,074,596
Kestland Undivided Profits
NE W YORK OFFICE: 63 and 65
Municipal, Railway
JACKSON & CURTIS
MONTREAL.
HEAD OFFICE:
CAPITAL
Stock Exchange
BANKERS
GOVERNMENT, MUNICIPAL AND
Buy and*8ell Sterling and Continental Exchange
CHOICE RAILROAD BONDS.
and Cable Transfers; Grant Commercial and
Travelers’ Credits available In any part of the
world.
Issue Drafts on and make Collections In
all parts of the United States and Canada.
Merchants’ Bank of Canada.
Philadelphia
Boston
Boston.
15 State Street,
460,000 Sterling
Head Omoi:
421 Chestnut St,
Congress St.
BANKERS,
1840
Sterling
A 1,000,000
.
.
....
deposits.
on
New York
Established in
.
allowed
Canada.
Drafts, .and telegraphic transfers pn
the Bank’s branch at COBALT, Ontario,
issued at lowest rates*
Paid-up Capital,
Reserve Fund,
terest
CO., Ltd.,
BARING BROTHERS &
Travelers* Credits. OelleeHens made at
all points*.
Banking and Exchange businees of every
Members of the New York and
Boston Stock Exchanger Deal
ers in Government Bondi and
other Investment Securities. In¬
for
Agents and Attorneys
Bay and Bell Sterling and Oentlaental
change and Cable TraiMvn, i
desor’ptlon transaoted wltn
BANKERS
New York.
Buy and Sell Foreign Exchange.
Issue Commercial and Travelers’
Letters of Credit.
Investment Securities
LONDON OFFICE?—00 LOMBARD STRUT, & CL
Bankers In Great Britain i
Tint Bank or England,
Thx Bank or Soocland,
Lloyds Bank Looted,
Onion or London and Smith’s bank, Ltxxtxd.
and
Mackay & Co.
Baring & Co.
OFFICES, TORONTO.
PlIO-DP CAPITAL.
SURPLUS
Incorporated by
v
THE CHRONICLE.
1907.)
67 MILK
36 WALL STREET
STREET
AND BOSTON
KXGHANQES
MEMBERS NEW YORK
STOCK
INVESTMENT
SECURITIES
19
l Nassau Street,
CO.
H. W. POOR &
Congress Street,
Boston
New York
INVESTMENT
SECURITIES
Branches Throughthe
Dominion
out
ISEW YORK
AGENCY. 95 PINE
STREET
S. D.
^foreign
Anglo-Austrian Bank,
E. C.
LONDON: 31
Lombard St.,
VIENNA: I. ^iruncligasse
8. D. Loring.
CBidney Shepard,
Homer Loring
| Special.
LORING & SON,
BOSTON
33 Wall Street
33 Congress St
BANKERS,
64 Devonshire
Street,
.
.
Boston.
BRANCHES:
Aussig, Bodenbach, Brunn, Budapest
Constantinople (Coenca, Amar &Cie),
Pilsen, Prague, Teplitz, Tetschen,
Trautenau. Trieste
NEW YORK
Tucker, Anthony & Co.
BANKEBS *
INVESTMENT BONDS
63 STATE
BROKERS,
STREET,
BOSTON.
Established 1863
fismben Beaten
and New Yerk Steak
Exchangee.
Capital, Paid up,
.
.
.
Reserves,
K 60,000,000
12,000,000 Rudolph
Telegraphic Address:
Con}unctus, London
Anolobaik,
BANKERS.
Vienna
American
The English Association of
Bond & Share Holders? Ltd.,
5 OREAT WINCHESTER STREET, LONDON.
Acts as Agent In England for American and
Canadian Railway ana Industrial Companies.
Trustees
and Directors.
W, Bmithkus, Chairman
Lord Wklby, VV. Li > dlky, T. Reynolds—London
T. P. Fowler—Nrw York
Alfred
The
ada
Kleybolte& Co.
SIMON BORG h CO.,
DEALERS IN
MUNICIPAL, RAILROAD
8TREET RAILWAY
and
BOND8.
27-29 PINE
STREET, NEW YORK.
Interest Paid on
Daily ind Time Deposits.
BANKERS,
Members ef New
York Stock Exchange.
No. 20 Nassau Street,
New York.
•
High-Grade
Investment
Securities
Annotation's Agents In America and Can¬
The Morton Trust Co. and the Bank of
are
Montreal.
THOMAS
LINDLEY, Secretary.
H. AMY & co..
BABOUftBS,
BANKERS,
Jordaan Cohen &
Wennink,
BANKERS.
PARIS.
44
and 46 Wall St., New
York.
INVESTMENT SECURITIES.
Bills 0!
Exchange.
BERTRON. ST MRS l 6RIS69M.
Letters of cream
Land Title ■ all41 ag,
ymAis&mu.
40 Wall Streak,
raw you.
INVESTMENT SECURITIES.
gMIadjelyMa gimfcjexs and gr0tuers
fjforsigu.
National Bank of Cuba
tanamo,
Rio, Cam*-
Santa Clara, Pinar del
Galiano Street, Havana Cuba.
GENERAL BALANCE SHEET DECEMBER 31 1900.
guey,
ASSETS.
Cash—
$4,135,064
In Vaults
548.169
Banks and Bankers
Bonds and Stocks Owned—
Government Bonds.....
$2,585,135
BANKERS,
82
88.603 33 3.769.994 39
Loans, Discounts. Time Bills, Ac
10.496.331 64
73,171 03’
377 863 03
Furniture and Ftxtures
Bank Building
74,044 63
...
S19.474.629 14
Total
j KnuS^STAT’l*Bj
Battles, Heye & Harrison
BANKERS AND BROKERS
$5,000,000 00
500,000 00
263.735 22 $5,763,735 22
Undivided Profits
13,710,893 92
Deposits
Deduct $200,000 4% semi-annual
a
PHILADELPHIA
$19,474,629 14
Total
able
62 Broadway
NEW YORK
131 South 6th Street
dividend, pay¬
January 1. 1907.
Depositary in Cuba.
United States
Republic of Cuba.
Depositary for the Funds of the
Benj. C. Warnick & Co.,
J. W. SPARKS & CO.,
BANKERS.
Havana
Third Ste.,
Corner Chestnut and
IPHILADELPHIA STOCK EXCHANGE
NEW YORK STOCK EXCHANGE
CHICAGO BOARD OF TRADE
Investment Securities
Private Wires,
N.Y., Pittsburgh, Chicago
JOHN H.McQUILLEN &
Members Philadelphia
GO.
Stock Exchange
BANKERS A BROKERS,
141 South 4th
Street,
Dealers In
Philadelphia, Pa
OTHER
CORPORATION BONDS AND STOCK.
Syracuse Rapid Transit
Stocks and Bonds
HIGH-GRADE RAILROAD AND
Bank of
Exchanges.
Investment Securities
INACTIVE LISTED BONDS
INVESTMENT PURPOSES
LIABILITIES.
Capital
Surplus
Members of Phlla. A N. Y. Stock
UNLISTED
DEALERS IN HIGH-GRADE
Trust Bldg
PHILADELPHIA, PA.
Deposits.
Interest Allowed on
AND
FOR
118 So, 4th St. and 100-102 Girard
and New York Stock Exchanges
83
59 $4,683,234 42
Other Bonds and Stocks..
8undry Accounts
Members Phlla.
Co.,
BANKERS Sc BROKERS
PHILADELPHIA
321 Chestnut Street.
Saw York Correspondents:
1,096.255 24
City of Havana Bonds
& CO.,! Walter L. Ross &
E. W. CLARK
Havana, Cardenas
Cienfuegos Matanzas Santiago,
Manzanillo. Sagua la Grande, Caibarien, Guan¬
a
[VOL. LXXXIV
the chronicle
TI
for
Send
PHILADELPHIA
104 South 4th Street,
Circular.
our
W. O. HOPPXXL
H. 8. HOPPgn,
Members of Philadelphia Stock Exchange.
Acts
as
ffluanxial.
Cuban Correspon¬
American
dent of
Banks
UNITED STATES DEPOSITARY
New Orleans
Estate, Mortgage A
Real
Securities Company
AMERICA-BANK A. G.
313 CAMP ST.,
BERLIN: W. 64, BEHRENSTR. 48
-
Transacts a General Banking
pays
Business and
speolal attention to the execution of all
and other Amerloan Countries
Investments receive our special attention.
mation cheerfully furnished regarding
holdings or proposed
Travelers’ Letters
available In all parts
Southern municipal Securities
and Real Estate Loans
to-day presents the promise of
greatest industrial advancement
The South
of Credit and Cheques
of the world; Interest on
TRACTION. GAS & ELECTRIC
Gable Transfers;
Deposits; Foreign Exchange,
^financial.
A. B. Leach & Co.,
BANKERS,
140 Broadway,
NEW YORK
140 Dearborn St,,
FINANCE CO.
Investment Securities
Infor¬
present
investments.
IN, $600,000
Dealers In
the
Philadelphia.
28 South Third Street,
Banking Transactions with the
UNITED STATES OF AMERICA
Hopper & Co.,
STOCK AND BONO BROKERS,
NEW ORLEANS, LA.
CAPITAL PAID
CAPITAL, Mk. 33 Millions
SURPLUS, Mk. 3K Millions
Wm. G.
28 State
CHICAGO
St., BOSTON
JOS. B. MAY Ell, President
OSS & CO.,
VAN
THE
Finance Electric Railways,
lighting and Gas Propsrtise
Place American Investments in Eurooe*
LARGE PROPOSITIONS PREFERRED.
A Lleber.
Accountants.
HQDENPYL, WALBRID6E & CO.,
7 Wall
NORTHCOTE,
DUDLEY & COMPANY
49 Wall Street,
New York,
FOREIGN FUNDS
Per Investment in the
United States.
BANK
DEPOSITARY.
STATES
Capital and Surplus, $2,600,000
OFFICERS:
ntm Vooxl Jb., Pres.
Hxnbt Kloks, Cashier.
OsOAkKA8TXN.Ast.Cash.
Wm. Btgxlow, V.-Prea.
Fbjed. T. Goll, V.-Prea.
i£. J. Hughes. Ass’t Cash.
a. w. Book. Asucme.
W. C. Haas, Mgr. Foreign A Savings Dept.
C. E. Ladd
W. M. Ladd
J. W. Ladd
LADD A TILTON
BANKERS
PORTLAND
-
-
-
Transact
SAVINGS
a
General Banking Business
BANK
PHILADELPHIA.
Wall Street Exchange Building*
NEW YORK.
DEPARTMENT
Savings books issued on Savings Deposits
Interest paid on Time Deposits
Blec. Light
SECURITIES.
William R. Compton
Bond & Mortgage Co.
MACON, MISSOURI.
(Established In 1889)
Broadway,
-
-
New York
Bank Examinations under
the management of a National Bank Examiner
special Department for
of many years’ experience.
LOOMIS. CONANT&CO.
CERTIFIED PUBLIC ACCOUNTANT8
SB Bread Street New Yerk.
Tel, 4968 Broad.
JAMES PARK & 00.,
CERTIFIED PUBLIC
HOW,
ROSE & CO.,
Certified Public Accountants
56 Pine Street
MISSOURI MUNICIPAL BONDS—
School, City, County and Drainage
Our list gives a wide selection of
many
attractive issues in sizes of
$2,000 to $100,000.
Opinion Chicago counsel, full legal
papers furnished
We buy direct and handle nothing
on
brokerage
large volume and small
profit make our offerings attractive
Close buying,
Send for latest circular
New York, Chicago, St.
Kansas City references
Louis and
ACCOUNTANTS WILLIAM R. COMPTON, President.
4 Wardell Building
S3 Breadway, New Yerk,
18U LaSalle Street, Chicago.
OREGON
Established 1869
Railroad, Street Ry., Gaa &
(Pennsylvania)
Laad Tltla Building
CERTIFIED PUBLIC ACCOUNTANTS
NATIONAL
St., New York.
Certified Public Accountants
52
OF MILWAUKEE.
UNITED
ROSS BROS A
MONTGOMERY
Wilkinson, Reckitt, Williams & Co.
Daubers.
FIRST
LYBRAND,
807 Monadnock Block
Chisago
Cbeapslde
London, E.C.
11 Poultry
PHILADELPHIA
Ws will Purchase or
HAGUE, HOLLAND.
Tel. Address, Voco.
Codes. Hartfield’s Wall 8t., W. U.
421 Ofaeotnnt St.,
11 Plae Streak
NEW YORK
Telephone 4901 John.
THE SOUTH.
Property and Investments of every
Kind in all Southern States.
METROPOLITAN INVESTMENT 00.,
GEO. B. EDWARDS
President. Charleston, 8.0..
outside flew Hovlt,
^Bankers and Erofeevs
Investments
New York
application
GEORGE R. TELLER,
Building.
100 Powers
Oldest Pittsburgh Members
MEMBER
PITTSBURGH, PA.
Co.
BOND HOUSE
BROKERS,
STOCKS AND
H. P-
-
WISCONSIN
-
Ashtabula & Pittsburg 6s,
•
•
Alabama.
Investment Securities.
LOCAL STOCKS AND BONDS.
New York
Office*
Members Pittsburgh
Investment Securities
Indianapolis Stock Exchange
Members
American Nat
Bank Bldg.
INVESTMENT SECURITIES.
INVESTMENT BONDS
NEWTON TODD
TRACTIONS AND
LOCAL STOCKS AND BONDS.
Fletcher Bank Building,
-
Indianapolis.
AUGUSTA.
John W. Dickey,
Telephone and Street
Securities.
NASHVILLE,
-
N A S H V1 L L
STOCKS
MEMBERS
SECURITIES,
E—T E N N.
CO„
ATLANTA
NORFOLK, VA.
Hugh MacRae & Co.,
ST. BOSTON.
BANKERS,
INVESTMENT
Dealers In Southern
curltlev of Every
EXCHANGE
40 Wall 6c
ATLANTA, GA.
WILMINGTON, N. CM
AND
37 Pine Sta.
WASHINGTON, D. C.
MUNICIPAL AND
PUBLIC FRANCHISE CORPORATION
BONDS
W. J.
RICHMOND. VIRGINIA.
and Sold.
HAYES & SON,
CLEVELAND, OHIO.
Davenport
& Co.,
AND BROKERS,
BANKERS
BOSTON, MASS.
Established i860.
Correspondence solicited and information
nished about Southern State, Municipal and
road Investment Securities.
Reference—Bank of New York. N. B. A.
SECURITIES, NEGOTIATIONS.
MILlER Jr.
BUILDINQ
PROVIDENCE, R. I.
William Wilson
Local Securities
Gas, Electric Lighting & Railway
bonds and Stocks
A Sons.
Established 1807.
Richardson & Clark.
INDUSTRIAL TRUST CO
25
Bonds,
Transact a general banklr g business.
Stocks and Local Securities. Private wires
and Philadelphia.
Wilson, Colston A Co.
Established 1867.
Wilson, Colston & Co.,
BANKERS,
Exchange Street, Providence, R. I.
kNew York, Boston
fur¬
Rail¬
BALTIMORE.
PROVIDENCE
PROVIDENCE.
ALBERT P,
Investment £eDescription.
408 Colorado Building.
Bought
DARWIN C. JONES,
CO.
BROKERS
BANKERS AND
AUGUSTA, GA.
CORRKSPONDKNCE SOLICITED.
&
MOTTU
COMPANY
BOSTON STOCK
New York Office,
$900,000
SOUTHERN.
BOSTON.
BONDS FOR
Sec. A Treas.
PAID-UP CAPITAL.
TENN
-
AND!BONDS
&
L. L. McClelland,
President
Railway
THOS. PLATER &
ADAMS
Pittsburgh* Pa.
Jamea 8. Kahn,
BANKING CO.,
13 CONGRESS
INVESTMENT
of
NASHVILLE, TENN.
AUGUSTA, GA.
WILLIAM e. bush,
Municipal and Corporation
Securities Co.
COULDINC MARR,
BROKER,
SOUTHERN SECURITIES.
(NO STOCKS)
Correspondence Sollolted
NA8HVTLLE STREET RY. SECURITIES
CUMBERLAND TELEPHONE STOCK
LANDIS
PITTSBURGH.
and Hell
We Bay
NASHVILLE.
INDIANAPOLIS
Stock Exchange.
Columbia Bank Bid*.
11 Wall Street.
Dealer in
Elliott & Sons,
1908
& Co.,
W. «X. Black
Birmingham.
INDIANAPOLIS
Joseph T.
'
PITTSBURGH
BROKERS.
BANKERS AND
ESTABLISHED 1850
MILWAUKEE,
Taylor A Company
BONDS.
Steiner Brothers,
AND local
& CO.,
OF
We will Bay
BONDS sssszvk
CHAS. SCHLEY
specialty of all the Securities of
great Pittsburgh District.
948 Fourth Avenna,
MILWAUKEE
EXCHANGE,
340 Fourth Avenue,
Birmingham, Alabama.
UUUUU
PITTSBURGH STOCK
We make a
BIRMINGHAM. ALA.
BANKERS AND
N. Y. Stock Exchange
ROBERT C. HALL,
the
SECURITIES
Application.
FRICK BUILDING.
BOWEN,
Otto Marx &
BROKERS,
STOCK
INVESTMENT SECURITIES.
Municipal and Corporation Honda
C Chicago Board of Tra.de*
Daily Lists Mailed on
Whitney, Stephenson & Go.,
LOUISVILLE. KY.
C New York Stock Exchure.
Members! < Rochester Steek Exchange.
SPECIALISTS ROCHESTER
‘
NORTON St CO., N. Y.
&
Sts., PITTSBURGH
KitnblUhed 1871.
STREET RAILWAY SECURITIES
A Specialty.
WOOD
YORK AND
EXCHANGES
PITTSBURGH, PA.
INVESTMENT BONDS.
ROCHESTER, N. Y.
HIBBARD1
SON,
BROKERS.
BANKERS AND
Correspondents, EX.
BONBRIGHT &
Wood and Diamond
LOUISVILLE, KY.f
Investment
Local
MEMBERS OF
NEW
PITTSBURGH STOCK
MILLER * CO.
Correspondent,
J. J. B. HILLIARD &
BUFFALO. K. Y.
Securities
Stocks, — BONDS.
Bankers,
Louisville stock Exchange
Member
ESTABLISHED 1883
ROBINSON BROS.,
-
INVESTMENT SECURITIES
Street Railway Issues a Specialty
Securities
Circulars upon
Broker.
Banker and
Municipal and Corporation
Specialists in Local
-
LOUISVILLE, KY.
STOCK EXCHANGE
BUFFALO. N. Y.
Government,
DUNLAP,
L.
JOHN
MEADOWS, WILLIAMS & CO.,
MEMBERS NEW YORK
PITTSBURGH.
LOUISVILLE.
BUFFALO.
.
vn
THE CHRONICLE.
11S07J
June
to
Members of Baltimore
Stock Exchange,
BANKERS,
916 E. Baltimore Street, Baltimore,
Investment and Miscellaneous Securities
a
specialty, and whole issues handled. Exceptional
facilities for dealing in all classes of Southern
Bonds.
Loans on
Collateral Securities negotiated.
[VOL LX1HT,
THE CHRONICLE
YIU
gatiticrs and grckere outside
2^cxxr Uorh.
8T. LOUIS.
CINCINNATI.
CHICAGO.
WEIL, ROTH & CO.
Bartlett, Frazier
& Carrington,
CINCINNATI
A. G. EDWARDS
STOCKS AMO BOMBS,
GRAIN AMD PROVISIONS.
BROAD
29
DEALERS IN
SONS,
STOCKS AND BONDS,
YORK. 410 and 412
CHICAGO.
NEW
STREET
WESTERN UNION BLDO..
MEMBERS:
Municipal and Corporation
CHICAGO STOCK
BONDS
EXCHANGE,
1 Wall
CHICAGO BOARD OF TRADE.
PRIVATE
Olive Street.
St. Louis.
EXCHANGE
NEW YORK 8TOCK
&
St., NEW YORK.
WIRES.
iw York Stock Exchange,
( Nei
W. E.
HUTTON & CO.,
Bonds and Stocks
Slaughter & Co.,
A. O.
INVESTMENT BANKERS
STOCK
of Ohio
NEW
Dated July 1.
r
ISSUE
.
102 Vj-
FRIEDLANDER
EDCAR
York Coilee Exchange.
New York Produce Exchange.
Chicngo Stock Exchange,
Chicago Board ot Trade,
St. Louis Merchants Exchange.
New
•
Car Co. 6% 1st Mtge. Bonds
}9(W.
Due July F. 1930.
tTtce
BltOKERS,
New York Stock Exchange,
New York Cotton Exchange,
Memberst
Barney & Smith
BROKER AND DEALER
A. G.
OHIO.
CINCINNATI,
Becker & Co.,
S, W. Cor. Monroe &
William E. Sweet & Co.,
Municipal and Corporation
FRANCIS, BRO.&CO.
214 N. 4th Street,
ST. LOUIS.
Exchange,
Members New York Stock
Louis Stock Exchange,
Chicago Stock Exchange.
St.
CLEVELAND.
BONDS
EQUITABLE BUILDING
Trade.
Investment Securities,
PAPER,
La Saile Sts,, Chicago.
Stock Exchange.
Louis
Chicago
Board ot
Chi
DEALERS IN
(INCORPORATED.)
COMMERCIAL
DENVER. COL
GROUND FLOOR
j St.
«t.
(
STREET,
CHICAGO, ILL.
OHIO.
-
-
Chi
J'1 Chicago
Stock Exchange.
139 MONROE
Companies.
CINCINNATI,
u.mi......
EMERY, ANDERSON & COMPANY
SEATTLE, WASH
Investment Securities.
MUNICIPAL
AND
PRICE,
Banker Sc Broker,
E.
JOHN
PUBLIC SERVICE
BONDS
and Corporation
Municipal
BONDS
BANK
CORPORATION
STOCKS
Garfield Building,
*
Securities
Investment
Cleveland
St. Louis Securities
Special Attention to
PORTLAND, ORE,
Hayden, Miller & Co.
MORRIS BROTHERS
Investment
PHILADELPHIA
PORTLAND
WHITAKER & CO.,
Municipal and Corporation
Citizen*
Building.
Securities
PRIVATE
WIRLci IX)
PRINCIPAL MARKETS
ST.
300 N. 4th
ST. LOUIS
-
-
-
CLEVELAND, O.
BONDS
PACIFIC
KANSAS CITY, MO.
SECURITIES A SPECIALTY
COAST
&
WEBB
CO.,
LOS ANGELES.
INVESTMENT
SECURITIES.
Correspond, with us
Adams-Phillips Co.
74 BROADWAY,
NEW YORK
CO..
STANDARD AUDIT CO.
43*49 Exchange PI,
NEW YORK
41-43 Wall St.
Pres.) Certified Publ'C
HENRYC. DAVIS,Secy.y
ACCOUntantS
PERLEY AtORSE.
CALIFORNIA MUNICIPAL,
SCHOOL AND CORPORATION
Telephone 2369-8270
4 TO
NET
6 PER CENT
PASADENA
LOS ANGELES
FIELDING
J. STILSON
INVESTMENT
NEW
EDWIN R.
15
Telephone 76L
SECURITIES,
EXCHANGE PLACE
JERSEY CITY.
AND BROKERS
FIRST MORTGAGE
COLD
Gas Bonds
37
NEW TORI
WALL STREET.
Kansas
DEALERSJ
1\
I
City. Mo,
K.G. Ry. & Light
Securities
Local Bank Stocks
Kftn«
Mo Miiruc’nnl
MINNEAPOLIS,
MUNICIPAL and
CEO.
B.
Commercial Paper
MINNEAPOLIS,
BROKER
44
AND
46
WALL
ST.,
NEW YORK,
INVESTMENT SECURITIES.
Correspondence Invited
MINN.
BOIVDS
OTTO JULIUS MERKEL
CASE,
ESTABLISHED 18'9
NEW JERSEY
BANKERS
EXCHANGE
JERSEY.
0RTHWEIN, McCRUM INVESUMEM L
COMPANY
BAKER & VAUGHAN, WELLS & DICKEY CO.
CO.,
LOS ANGELES.
Specialty
MINNEAPOLIS.
SECURITIES,
MEMBER LOd ANGELES STOCK
a
Request
Broad
BONUS
TO
Securities
Missouri and Kansas
Monthly OUerinQS Hem on
ANGELES, CAL.
WM. R. STAATS
Municipal and Corporation
ISOLDS
and C orporation
THEY PAY A BETTER RATE OF INTEREST
THAN BONDS OF THE SAAIE MERIT ISSUED
IN THE EAST
LOS
Wright Investment Co.
Established 1885
CALIFORNIA BONDS
Municipal, School District
H. P.
A.
CORPORATION
LANE,
and Investments.
MINK.
Strassburger,
Southern Investment
Securities.
MONTGOMERY, ALA,
June 1
ix
THE CHRONICLE,
1907.J
Urn Herb £l0tfe gxcfcmge
McIntyre & Co.,
T. A.
71 BROADWAY
JOHN P. HARRIS.
I
H. R. WINTHROP,
T. 1. CUNNINGHAM.
General Partners
WOODWARD BABCOCK
HUGH BLYTHE
GEO. A. MCCLELLAN,
]
J. A. ripley, Speolal
New York Stock Exchange,
New York Cotton Exchange
New Orleans Cotton Exchange
New Orleans.
CORRESPONDENCE SOLICITED
Members New Tork Stock
CHICAGO
1
Exchange.
PRIVATE WIRES
Rector.
Telephones 4250-4X66- 4857
PRINCIPAL CITIES.
PRIVATE WIRES TO
CO.,
JOHN H. DAVIS &
BROKERS,
BANKERS AND
Members N. Y. and Phila. Stock Exchangee,
Orders for Stocks and Bonds executed upon all
Exchanges in this country sod Europe.
Especial attention given to supplying high
INVESTMENT SECURITIES
Deposits Subject to Check
Interest Allowed on
NEWBURCER,
HENDERSON So LOEB
Members N.Y. and
Phila. Stock Exchanges
100 BROADWAY, NEW YORK
527 Chestnut St., Philadelphia.
BONDS
STOCKS
CO.,
Banker.
57
BROADWAY
NEW YORK
-
-
Telephone 2240 Rector
3*26 Walnut St.,
Stocks
Exchange,
Members New York Stock
Newport Offloe: Audrain
William M. Vanoe.
ALLEN, McGRAW & CO.,
7
BANKERS,
MEMBERS OF NEW YORK STOCK EXCHANGED
Allow Interest on deposits subleot to sight cheek.Buy and sell on commission stxucs and bonds, and
deal In
RAILROAD BONDS
GUARANTEED STOCKS.
CHARLES FEARON & 00.
BANKERS,
Parkinson & Burr,
Orders Executed on All Leading
Stock Exchanges.
brokers,
7 WALL STREET,
53 STATE STREET
NEW YORK.
BOSTON.
Member* of New York and Boston Stook Exchange'
Private wire between the two offloes.
Information given In regard to all Boston Securities
and quotations furnished.
Members
71
Broadway,
15
MEMBERS NEW YORK STOCK
NEW YORK.
Y.
Cincinnati and Chicago,
Branch Office. 500 Fifth Ave.
Private Wires to
Memb. N.Y. Stock Ex.
R. B. Dodson.
Fahnestock &
BROKERS AND
2 WALL
R. J.
DEALERS IN
STREET.
NEW YORK
-
Chas. Fairchild & Co.,
Member* N. Y. Stock Exchange
Member* N.
STREET.
Y. Stock Exchange.
Orders Executed for
Cash
or on
STREET
STREET AND 3 BROAD
Hartford, New Haven as*
BRANCH OFFICES
Jas. H. Oliphant & Co.,
J
THE INTERNATIONAL BANK,
WALL
•
.
.
•
•
BANKERS AND BROKERS,
20 Broad Street,
$600,000
1,750,000
Individual and Commercial Accounts
Invited
Facilities Afforded for Transacting
Foreign and Domestic Business . .
INTEREST PAID ON TERM DEPOSITS
THOS. H. HUBBARD. President.
JAMES S. FEARON, Vice-President
JOHN HUB BARD. Vice-President.
JAMES H. ROGERS. Cashier.
CHAS. S. LIPPINCOTT,
J. Stewart
Margin
Asst. Cashier.
Campbell So Co.
25 Broad Street
-
NEW YORK
General Commission and
Investment Business in Ourb Securities
a
INVESTMENT
BONDS
BANK AND TRUST
SECURITIES
LOANS
COMPANY STOCKS
•J. Gr.
Zachry & Co,
BANKERS, 46 Wall St., NewTsrk
.
New York.
.
Telephone No.866
N. Y.
STREET.
Capital and Surp us,
Deposits,
Transact
JACOBS & CO.,
41 NEW
Co.,
SECURITIES.
INVESTMENT
Bought and Sold on Conga
Rbctob
JAS.H. OUPIIANT
FLOYD W. MUNDY
ALFRED L. NORRIS
J. NORRIS OLIPllAMT
Members New York Stook Exchange.
J. S. & R. D. FARLEE,
MEMBER8 NEW YORK
Banking and Stock
Exchange Business.
'COUNTS OF BANKS A BANKERS SOLICITED.
INTEREST ALLOWED ON DEP0BIT8,
T. j. Mum to ED.
York.
EXCHANGE.
Stook Exolianges
financial.
60
Lapsley & Co.,
Wh. Fahnestock,
Campbell & Co.,
Barclay Bldg., 299 Broadway
Hotel Empire, 63d Street and Broadway
Transact a General
A
Edwin P. Campbxll,
11 Wall Street, New
Securities
Exchange,
BROAD STREET, N.
PHILADELPHIA
Henby G. Campbell,
29 WALL
Private Wires to Boston,
•
Howard
-
mission.
Members N.Y. and Boston
BALANCES.
Bldg.,
j Philadelphia Stook Exchange
Philadelphia
for Cash or on Margin.
INTEREST ON
Ilanover Bank
New York Stock Exohange
:
838 Chestnut St.,
Thomas L. Mausou & Oo.
Wilson, Watson & Herbert,
Orders Executed
YORK.
N. Y. Stock Exchange.
WALL STREET.
Members N. Y. Stock
Building.
IS WALL STREET, NEW
Established 1865.
24 Broad Street, New York.
Members
BANK,
KIDDER & CO.,
A. M.
CITIES
Tel. 310* Rector
INVESTMENT SECURITIES.
of
Investment Securities.
STOCK BROKERS
LADD & WOOD,
Exchange
BRANCH OFFICE, NIGHT tk DAY
527 FIFTH AVENUE.
H. G.
Cincinnati
Bank and Trust Co.
Transact a General Banking and Stook
Business. We make a specialty
Stanley D. MoGraw
STOCK
P. J.COODHART So
BUILDING, NEW YORK
BANKERS AND BROKERS,
Miscellaneous Securities
in all Markets.
class
Postal Telegraph Bldg
HARRIMAN& CO.,
TRINITY
Telephone 3070 John.
Robert H. Allen.
Broad.
BRANCH OFFICES
Waldorf-Astoria, N. Y. C.
Washington, D. C.
Flatiron Building, N.Y.C.
Williamsport Pa
Wllkesbarre, Pa.
2 East 44th St., N. Y. C.
Buffalo, N. Y.
Scranton, Pa.
Cincinnati, O.
St. Louis, Mo.
Cleveland, O
Syracuse, N. Y.
Dayton O.
Schenectady, N. Y.
Detroit. Mleh.
Troy. N. Y.
Utica, N. Y.
Erie, Pa.
Atlantic City, N. J.
Montreal. Can.
Chloago Stook Bxehangea
PRIVATE WIRES TO PRINCIPAL
STREET,
NO. 10 WALL
IN ALL MARKETS
principal cities. Tel 5555
Private wires to
Nos. 84-86 WALL ST., NEW TORK.
CORNER WALL.
MA88AU 8TREET
STOCK8, BONDS AND
MISCELLANEOUS SECURITIES
C. I. HUDSON A CO.,
Member* of New York and
Stock Exchange-
DEAL IN
Railway Exchange Bldg.
Exchange
240 La Salle Street
EFFINGHAM LAWRENCE & CO.
Stock and Cette*
Board of Trade an*
York
Chicago
CHICAdO. ILL.
NEW YORK
Robert H. r impeen
Lawrence
New
the
Cleveland
Partner
25 Pine Street
Branch Office*, 516 Fifth Avenae
Delmonlco’s and 305 Broadway
of
Exchanges,
Chicago Board of Trade
Chicago Stock Exchange
New York Cotton Exchange
Direct wire connection Boston,
Chicago, and
Membsrs
MEMBERS
New York Stock
BROAD STREET
30
Stocks, Bonds and Grain
Liverpool Cotton Association,
New York Coffee Exchange,
New York Produce Exchange
Chicago Board of Trade
& CO.,
A. O. BROWN
Harris,WinthropA Co
MEMBERS:
■'
Rouses.
STOCK EXCHANGE.
BROKERS AND DEALERS
INVESTMENT
SECURITIES
11 WALL STREET,
W.
H.
IN
NEW YORK
Goadby & Co.,
BANKERS AND BROKERS,
NO.
74
BROADWAY,
NEW YORK,
R. T. Wilson &
BANKERS
A
COMMISSION
33 Wall Street New
MERCHANTl
York.
EX. NORTON A
K2 Exchange
Co.,
CO.,
Place, New Yerlt»
Ex-lf obton, Mam. NY. Steak lx.
INVESTMENT
One. F. M
SECURITIES
[VOL. LXXXIV.
THE CHRONICLE.
©utxeut Ikriul
Chic. Peoria & St. L. prior lien 4%s & Cons. 5s,
Peoria & Pekin Union 1st 6s, and 2nd 4J/£s,
flnqttities
1930
Spartanburg Union & Columbia 1st 4s,
California Pacific 1st 4}4s, 1887
1995
Wilkesbarre & Eastern 1st 5s,
1942
Twenty-five Year 4% GoM Bonds
Due
Oregon & California 1st 5s, 1927
F.
BONDS DEALT IN BY
STEAM RAILROAD
ALL
IN STEAM
are a direct obligation of the
Lake Shore & Michigan Southern, and the
deed of trust providing for the issue expressly
stipulates that it shall have EQUAL LIEN
WITH
ANY
FUTURE MORTGAQE.
TO YIELD ABOUT 4 70
RAILROAD SECURITIES
BANKERS
45 NEW STREET.
Membwrs new York stock
Land Title & Trust Co. Building PHILADELPHIA
169 East Jackson Boulevard, CHICAGO
404 Connecticut Mutual
Union Pacific Conv. 4s
LIBBEY &STRUTHERS
5s
Metropolitan El. 6s
Chicago & Eastern Ill. 6s
A
«
Hastings & Dakota 7s
Morris & Essex
7s, 1014
Penna
25 Broad St.
3£s 1941. 1942, 1944
Gulf &
Ship Island 5s
Indianapolis & Vincennes 7s
Lehigh Valley Terminal 5s
Walker Company Gs
Equitable Building, New York.
o
Des Moines Union 5s
Belt Line Ry. of Montgomery (is
Pere Marquette Cons. 4s
Detroit & Toledo Shore Line 4s
Helena Light & Ry. 5s
W.
A.
35 WILLIAM
e
Hart8home,Bogert&Battelie
Members New York Stock ExchHee.
Steet, Now York.
Telephone No. 5480-1-2 Broad
NEW YORK
STREET.
OFFER
Telephone GlSOJJo
18 WALL ST
Power Co.
5% Bonds of 1944.
85 Broad
Norf. & West., Div.
Southern Ry., Aiken
BOUGHT AND SOLD
Company
(INVESTMENT BANKERS
Hudson River Electric
WILLIAMSON,
Chicago & North Western Scrip
Lincoln &
“NH WHOSE."
WANTED
Investment Securities,
Morgan’s La. & Tex. Cs and 7s
Central Paeific 3^8
Cable Address:
Telephone, 0745 Broad.
Canada Southern 1st 5s
BORDEN
&
Rights, w. 1.
Deal in Bonds, Stocks and Investment
Securities and transact an arbitrage
business with the principal European
stock markets.
New York
.Specialists in Uncurrent Issues.
PROCTER
Atchison
w. I.
Bights, w. i.
Rights,
Monthern Pacific
30 Broad Street
A. LISMAN & CO.,
TeL 5960-1-2 Broad.
Exchange.
Atchison Conv, 5s
Building:, HARTFORD
Union Pacific
Eastern Minn. 5s
Province of Quebec
CO.,
BROADWAY, N. Y,
44 dfc 40
STREET, NEW YORK.
BROAD
25 Broad £$*.,
New York
NEWBORG &
Members M. Y. Stoeb Exchange
30
PER CENT
G. W. Walker & Co.
Telephone
3945 Broad
J. LISMAN & COMPANY,
SPECIALISTS
May 1, 1931
These bonds
Wheeling Terminal 1st 4s, 1940
Wharton Valley 1st 5s, 1918
Unadilla Valley 1st 4s, 1934
Southern Indiana 1st 4s, 1951
AND
Michigan So. Ry.
Lake Shore &
1921
SCHMIDT & GALLATIN
Is, 1944
4s, 1998
c
So.Ry., East Tenn. Reorg. 5s, 1938
Atlantic & Yadkin 4s, 1949
Chic. Cm. & Louis. 4^s, 1953
Ches. & Ohio 5s, 1939
Buff. & Susque. 4s, 1951
Members N. Y. Slock Exchange
Bonds
for
Trustees.
and
Executors
Private Investors, yielding 4% to 5>$
Our
Tables—
Chicago & Erie 5s, 1982
Indianapolis & Vincennes 7s, 1908
afcuseful book for Bond Buyers— sent
.on
*
request.
Chesapeake & Ohio 5s
Milwaukee & Northern Gs
Rhoades
l Oregon Short Line 5s & Gs
East Tenn.
►
Reorg. Lien 5s
os
-
Company,
7 Wall St., Corner
BECKER & STERLING,
Tel. 985-086-9*7 Rector.
Cable Add. ‘‘Beckstcr’’
18 Wall St.,
&
Members N. Y. Stock Exchange
Philadelphia Balt. & Wash. 4s
Milwaukee Electric Ry. & Light
&
COMPANY,
34 Pin© Htreet, New York.
Tel. 6100* 1 -2-3-1 -5 John.
Atlantic & Danville 4s, 1948
-
Comparative
COFFIN
BONDS
Copyrighted Book "MATURING
BONDS” with
111 HKUAI) WAY
Tel. No. 8200 Rootor
%
Den. Gas & Elec. Co. stock and bonds
American
TOBY & LAM ARCHE,
26 Broad St., New York
Lighting and Traction Securities
A SPECiAwTY
New St.,
NEW YORK.
Telephone 1135 Rector.
Light & Traction Co. stocks
Peoria Light Co. stocks and bonds
Evansville Lt.Co. com. and pref. stks
Detroit City Gas Co. 5s
St. Joseph (Mo.) Gas Co. 1st 5s, 1937
Illinois Steel 5s
Kirby Timber Ctfs. 6s
Gainesville (Tex.) Water 5s
Duluth Edison Elec, stocks
New York
Kirby Lumber stocks
Michigan State Tel. & Tel.5s & stocks
BAKER, AYLING &
COMPANY
Investment Bonds
Land Till©
Building
AO CongrcM Street
PHILADELPHIA
Dealers la Unlsted Inactive Stock* ana Bond*
F.
W.
MASON
521 »tau? St..
CO.,
N.Y\ NewHaven & Hartford 4s, 1955
American Cigar 4s, 1911-12
St. Paul City Cable cons. 5s, 1937
Buffalo & Susquehanna 4s and 4}^s
Cuban Gov. Internal Gold 5s of 1905
BOSTON
M.
DESORIPTIVE CIKCULARS SENT ON
&
BOSTON. IMAB*.
APPLICATION
WOLFF,
Cabla Add. "MOWOLF” 27 William St..
Pimmi 6557*6551-3559 Broad
NY
June 1 1907. \
XI
THE CHRONICLE
5682901—Choemnsta.pk
Current
%Umd gttjqtttrijes.
Cinn. Hamilton &
Central R. R. of New
Chicago Rock Is. & Pac. Gen. 5s
Chic.Bur. & Q.; Ill. Div. 1st 3J^s
Dayton
4%% Notes
DEALT
IN
Jersey 5s
Central Union Gas 1st 5s
Standard Gas 1st 5s
BY
New York &
Jersey 1st 5s
Pfaelzer & Co.
GEORGE C WHITE
BANKERS
Ashmore, Lutz & Hitchcock
Telephones 2672-8-4 Broad
SCRANTON
of Ga. Income Bonds.
WANT.
Milwaukee Gas Light Co. 4s, 1927
Florida Southern 1st 4s, 1945
Northern Central 4^s, 1925
Omaha Water Co. Prior Lien 5s, 1916
Sutton, Strother & Co.,
BAL1IMORE. MD
Members of the Baltimore Stock Exchange.
& Ohio
B. & O., C. <fc O. and N. & W
0. & O. and N. & W.
& Ohio Dividend
LEONARD F. HEPBURN
Tel. 4801-2 Broad
Northeastern
TO
NET
30 Pin©
Securities
Correspondent*i Edward B. Smith & Co
Members N Y and Phlla. Stock Exchanges
BANKERS
\
BONDS
to
)
Telephones
6*>
caasarvatlve
Lawrence
investors.
Barnum &
Co.,
Pittsburgh
Chicago Indianap. & Louisv. 5s & 6s
Louisville New Albany & Chicago 6s
Westchester Lighting Co. 5s
Ottumwa C.F. & St.
Inactive Railroad Issues
Paul 5s, 1909
Hlgh«Class Industrial Issues
Bank Stocks
1 rust Company Stocks
Insurance Company Stocks
Guaranteed Stocks
FERRIS & WHITE,
43 Exchange PI., N.
Tei. 2868-9 Broad.
Jersey 5s
INQUIRIES INVITED
Y,
HIGH-GRADE BONDS
C. G. PARMELEE & CO.,
Jester &> Co.,
47
NEW YORK.
PINE STREET,
tkjotonb 237 JOHN.
Central Union Gas 1st 5s
stchester Lighting 5s
SAUNDERS & JONES
PATERSON & 00.,
Y.
Col. Springs & Cripple Creek con. 5s
Texas & New Orleans Sabine Div. 6s
Connecticut Traction Bonds
5 WALL
ST.,
-
-
NEW YORK
Republic Iron & Steel 5s
Detroit United 4J^s
Keystone Telephone 5s
U. S. Realty & Impt. Debentures
Rosea, Stillman & Go.,
member* N.
Tel. 6390 Broad.
Bra*iri St. fdaw York
CO.,
Louisville.
New Y*rk,
MHMBBRB NEW YORK STOOK EXCHANGE.
Ry. k Light Securities
Springfield Ry. k light Saouftiea
Now OrlMuii
Internatto&al Traction of Buffalo aad
othar Traction BaoarttUe
Consolidated Ou Oo. of New Jersey 5s
Oram Bay Gas 4» Blectrlo Oo. is
H.I.duPont deNemour P. Oo. pfd.Jb com .stocks
Asa. Vulcanised'Fibre Oo. pfd. & com. stocks.
Wilmington & Chester CoUateral Trust 5s
GEO. P. BISSSLL,
Florida West Shore 5s
Y. Stock Kzchaiga,
Pin* Street, New York City
fredericTh.1hatch,
Dealer in Unlisted Soonrittes of Railroads and ether
OorposatloM in the United States and elsewhere
S. C. HENNING &
Y
Lexington Ave. & Pavonia Ferry 5s
N
CO.,
New York.
Manitoba Cons. 6s, 1933
CO...
>0 Broad St.
MARKETABLE
W. E. R. SMITH &
40 Broad Street
Specialists in Inactive Bonds,
517 Siate Strwit
ttoslon.
Rector.
UNLISTED
PINE ST, NEW YORK
Philadelphia,
Washington,
N.
ALL
SECURITIES
Metropolitan Water Co. 4s
New England Brick Yards Co. 5s
Hudson River Elect. Power Co. 5s
Palatka Water Co. 6s
AND
BANKERS.
47 AND 49
Amer. Axe & Tool Go. stocks
Omaha Water Company 5s
Tel. 1985
INVESTMENT
BONDS
All short-term RR. and Indust. Notes.
20 Broad St.
Rector
LISTS MAHJn UPON APPLICATION.
Wyoming Valley 5s.
City of New York bonds.
Tel. 910-1 Rector
j
YORK,
Specialists In
Northeastern Pennsylvania Securities
Lackawanna &
New York &
ST.i NEW
BONDS FOR
/ 4%
for
NASSAU
5
Slew Yorli
Street,
KAILB0AD
CORPORATION
Selected
Lack. Steel Co. stock and bonds.
H. C. SPILLER &
Pennsylvania Investment
MEGARGEL & CO.
investment
414% to M4%.
conservative
MUNICIPAL
45 Broad Hr.. N. Y.
HIGH GRADE BONDS
Co.,
Tri-City Ry. & Lt. Co. Pref. Stock
Exchange
DEALERS IN
selected
carefully
for
OFFERS.
East Cleveland St. Ry. 1st 5s, 1910
Allls-Chalmers Co. 1st s. f. 5s, 1936
Members New York Stock
PA
-
BANKEKS
porations
PHILBRICK & HALL
-
-
1908 Manual of Northeastern Pennsylvania
Securities, Now Out, Mailed free on Request
A. H. Bickmore &
-
•
CO.,
Our
BONOS ®f Public Service Cor¬
Tel-3785-3786 Rector.
No. 20 New St., N.Y.City.
WANTS.
Coney Island & Brooklyn RIGHTS
Duluth St. Ry. 1st 5s. 19J0
Kansas City (Mo.) Gas 5s, 1922
&
BANKERS,
Bantiers & brokers
From time to time we make studies of railroad
and Industrial properties for tbe benefit of our
clients.
x
We will upon applloetlon send our circulars on
tbe following properties.
INVESTMENT SECURITIES
BROOKS
SCOTT & STR1NGFELL0W
RICHMOND, VA.
'15 Broad St., New Yorit
NEW YORK
20 BBOAD ST.,
PHILADELPHIA
BROAD STREET, NEW YORK.
25
BOSTON
Jr.,
Tel. 4640 John
Wabash 5% Notes,
1909.
118 SMtb F.arth at.
VICKER8
LEONARD
Tel., 1620 Rector.
SNIDER,
66 Broadway,
A
rhUaUMU. Pa.
PHELPS.
29 Wall St.,
New York
Lake Shore & Michigan Southern
Deb. 4% 1931
THE
XU
[VOL. LXXXIV.
CHRONICLE.
W itrauxiaL
ffitumclal.
~
E ST AB LI SHE
BANK
FIRST NATIONAL
accounts of
a modern
Banking and Fiduciary Institution.
Offers out-of-town Banks and dormant
and individuals every facility of
firms
and
well-equipped
Condition May 20. 1907.
RESOURCES.
Total
70,000 00
849.011 55
*3,393,206 16
Total
§200 000 00
344,094 87
49,400 00
2.799,711 29
§3,393,206 16
LIABILITIES.
Capital stock paid in
Surplus and undivided profits
National bank notes
Deposits
ALBERT H.
VERNAM, President.
RUDOLPH II. KISSEL, 1st Vice-Pres.
GUY MINTON, 2d Vice-Pres.
JOSEPH VAN DOREN, Cashier.
HENRY CORY( Assistant Cashier.
TIL.FORD, President
FREDERICK PHILLIPS, Hecy.
CHARLES H- COLLINS* Cashier
EDWARD C.WILSON, Asst. Trea*.
JOSEPH Z. BRAY, Asst. 8mj.
Trust Offiewr
OWBN WARD, ‘Ad Vl&e-Presld»nt
WILLIAM DARROW Jr., 34 T-Frea.
IRVING C. GAYLORD. 4lh V-Pres.
ROBERT C. LEWIS, Treainrer
G. J. BAYLBB,
$1,231,673 25
1,242,521 36
securities, &c
Cash and cash Items
OFFICERS
FRANK
JERSEY
Banking house
BROADWAY & 72d ST.
USPENARD ST.
Report of
Loans and discounts.'.
U. S. and other bonds,
MADISON SQUARE, NEW YORK
BROADWAY &
MORRISTOWN, NEW
Company
Lincoln Trust
THE
BATTERY PARK
NATIONAL BANK
NEW YORK CI1 Y.
OF
Condensed Statement May
20, 1907.
RESOURCES.
Loans and Discounts
U. S. Bonds to secure circulation—
Premium on United States Bonds. _
Other Bonds
Furniture and Fixtures
Due from Banks and Bankers
Exchanges for
Foreign Travel
oredit and travelers’
speolalconveniently
telegraphicsituated
code fornear
the
mall and U thoroughly
exchange and
in 1906—has made its
the Continent and should
of its travelers’
world.
Write for
LIABILITIES
28 Nassau Street, New
*2.000,000
5,500,000
Surplus
33 Lombard
*200,000
124,293
48,297
930,398
Surplus and Net Profit
Circulating Notes outstanding
Deposits
Reserved for Taxes
York
Street, E.C. London
00
36
50
35
1,000 00
*1.303,989,21
Total
DE LIMA. President.
CALVIN TOMPKINS. Vice-President.
EDWIN B. DAY, Cashier.
E. A.
special booklet “D.”
CHARTERED 1864
02
00
00
00
00
65
105,429 36
188,192 18
2,500 00
*1,303,989 21
$759,819
50,000
1,500
4,500
5,000
187,048
Capital Stock
Notices.
CHARTER NUMBER 8634
OF NEW YORK
capital
U.S
Total...
Trust Company
Guaranty
Clearing Houses
Cash In Reserve
Due from Treasurer
Trust Company issues travelers’ letters of
cheques available In all parts of the
A
use of travelers is provided.
Tne London Office,
the Bank of Er gland, receives and forwards travelers’
equipped to transact any business of the Company.
The Guaranty Trust Company's enormous business in foreign
commercial credits—nearly one thousand million dollars
name thoroughly familiar in Great Britain and on
recommend its letters of oredit to Intending travelers.
The Guaranty Trust Company desires to increase the volume
credits and invites correspondence upon the subject
The Guaranty
~
D~1865~
TREASURY
DEPARTMENT,
Office of Comptroller of the Currency
Washington, D. C.. April 6. 1907.
Whereas, by satisfactory evidence presented
to
undersigned. It has been made to appear that
"THE BEAVER NATIONAL BANK OF NEW
YORK.’ In the City of New York In the County
of New York and State of New York, has complied
with all the provisions of the Statutes of the
United States required to be compiled with before
an association shall be authorized to commence
the business of banking:
Now, therefore, I, William B. Ridgely, Comp¬
troller of the Currency, do hereby certify that
the
Jones, Caesar, Diddnson, Wilirlot & Co.
Certified Public Accountants, (III.)
Tribune
B*0g.
PITTSBURGH
FRANCISCO
Monadnock
People’s Bldg.
Bldg.
[ENGLAND]
3 Fredericks Place, E. C.
Apartado, 1403
Epler Block
April, 1907.
WM. B. RIDGELY;
Comptroller of the Cunency.
LONDON
MEXICO, D. F.
SEATTLE
307
SAN
6T. LOUIS
Stock Exchange Bldg.
Slxty-nlne of
hand
Seal of office this Sixth day of
and
(SEAL.)
STBELET
54 WILLIAM
CHICAGO
YORK,” In the City of New York, In the County
of New York and State of New York, Is authorized
to commence the business of Banking as provided
In Section Flfty-oneJiundred and
the Revised Statutes of the United States.
In testimony whereof witness my
YORK
NEW
To the
Stock of
Holders of the Preferred
COMPANY:
DECATUR UNO
MELBOURNE
THE
(AUSTRALIA]
9 Queen Sireet
with the provisions of
the Board of Directors of the Decatur
In accordance
the
Kany
available
for the purpose
has determined
to devotetosuch
e
the Company
1860
M. GRANT & CO
R.
1907
31 NASSAU ST.,
The United States
t
Life
We
THE CITY OF NEW
IN
Issue*
Finance
YOKE
A*
Investment
Committee
Securities
Steamship Lines Co.
COLLATERAL TRUST 4s
JANUARY AND JULY
experienced In life Insurance
with this Com¬
DUE JANUARY I,
1957
for a limited territory If desired, and secure
for themselves, In addition to first year’s commis¬
sion. a renewal Interest Insuring an Income for the
HOWARD DRUMMOND
future.
No. 277
5270
pany,
Address the Company
Broadway New York
at Its Home Office.
City.
Respectfully yours,
President.
New York City, May 31, 1907
C£o.,
Leatbe*
make direct contracts
by-laws; such
preferred stock are
to Harry L. Falk,
Company. 56 Bea¬
Forms will be fur¬
nished on application to the Secretary, L. P.
Troup, New Decatur, Alabama.
Tenders will all be opened at the same time,
viz., at 3 p. m., July 5 1907.
Company’s
requested to submit tenders
President, The Decatur Land
ver Street, New York City.
Holders of the
©hpavtuevsliips
BANKEKS
Title Omar A Tr Oo Consolidated
PORTER—.Pree. Chemical National Bank
not, may
price oifered, as provided in the
stock to be retired and canceled
NEW VOKK
Wall Street
M.D., President.
PLUM
Good men, whether
IES
sum as may
purchase by
the lowest
HARRY L. FALK,
CLARENCE H. KELSEY. Pres.
or
Finance
or
Qauranteed Contracts
JOIIN P. MUNN,
WM. H.
Purcha»e
Its charter,
Land Com-
of Its preferred stock at
56 Beaver Street,
7
JAMES R.
will
NEW YORK
GAS PitOPEKk
Insurance Co.
NEW
NATIONAL BANK OF
"THE BEAVER
BROAD
25 BROAD
SPECIAL
PARTNER.
Established Boston Bond House dealing in
high-grade Bonds offers attractive opening for a
Special Partnership of *50,000
Address C.
Commercial & Financial Chronicle,
Box 958. N. Y.
care
June
1st
S. H.,
P. O.
1907.
that Mr. Lewis Iselln, son
of our Mr. Columbus O’D. Iseliu, has this day
been admitted to membership In our firm.
A. ISELIN & CO.
We beg to announce
atsgmia
June 1
THE
1907.]
ffitraticial.
The FarmersLoan &Trust Co.
16,18, 20 & 22
INVESTMENT BONDS
William St.,
City.
New York
JUNE ARE PAYABLE
AT THIS OFFICE ON AND AFTER JUNE
1ST, 1907, AS FOLLOWS:
COUPONS DUE IN
list:
5%
%
6%
People’s Street Railway Company
Pittsburgh Cincinnati Chicago &
Co. Series F
Sharon Railways Company
Scranton, City of
June 5th,
H. P. Finlay & Company,
June 17th,
Village of North Pelham
St. Louis Ry.
1907.
Limited
1907.
SOUTHERN PACIFIC
COMPANY
New York, May 23rd, 1907.
DIVIDEND NO. 6.
120 Broadway,
dividend of THREE AND A HALF
CENT ($3 50 per share)) was this day
the Preferred Stock of the Southern Pacific
PER
A
declared on
Com¬
payable on demand on and after the 12th
day of July, 1907, to the stockholders of record
at 12 o'clock m. on Saturday, June 29, 1907.
Stockholders who have not already done so are
requested to file mailing orders for dividends
pany,
with
can
the undersigned, from whom rblank orders
be had on application.
A. K. VAN DEVENTER, Treasurer.
The Kansas City Southern Railway Co.
25 Broad St.. New York, April 8 1907.
The Board of Directors this day declared a divi¬
dend of 4 % on the Preferred Stock of the oom-
1907
The Stock Transfer books of the company
bo closed at 3 o’clock p. m. June 10, 1997,
will be reopened at 10 o clock a. m. July 2,
dividend
the
B.
R.
•
wltt
ana
1907.
will be mailed to
SPERRY, Secretary.
THE COLORADO &
SOUTHERN
RAILWAY SYSTEM.
Coupons due June 1st, 1907, from the First
Mortgage Six Per Cent Bonds of the FORT
WORTH & DENVER CITY RAILWAY COM¬
PANY will be
paid on and after that date upon
Bresentatlon
at120theBroadway,
office of New
Mercantile
Trust
ompany, No.
York, N.
Y.
Fort Worth &
Denver City Railway
Co.,
JAS. STEUART MACKIE,
Assistant Secretary.
NORFOLK & WESTERN
50,000
35,000
100,000
100,000
125,000
16,000
for any of the bonds on our list.
It has been many years since we
on
such
an
attractive basis and we
invest to take advantage
RAILWAY CO.
RAILWAY CO.
First Mortgage
will be paid on
presentation at the office
and after that date upon
of the Mercantile Trust Company, 120 Broadway,
New York City.
F. H. DAVIS, Treasurer.
MINNEAPOLIS & ST. LOUIS RR. CO.
Coupons due June 1, 1907, from bonds of the
Minneapolis & St. Louis Railroad Company will
be paid on and after that date upon presentation
at the office of the Central Trust Company, 54
Wall Street, New York City.
F. H. DAVIS, Treasurer.
FORT DODGE RR. CO.
of
The coupons of the First Mortgage bonds
this company, due June 1. 1907, will be paid on
and after that date on presentation at the office o
Blair & Co.
PAUL C. WEED. Secretary.
THE AMERICAN RAILWAYS COMPANY.
904-913 Witherspoon Bldg .
Philadelphia, May 15. 1907.
The Board of Directors has this day declared a
dividend of one and one-half (1 H %) percent (75c.
Stock of the Com¬
per share) upon the Capital
pany, payable on June 15, 1907, to
of record on the Books of the Company
close of business May 31, 1907.
All
will be paid by cheek.
Checks will be
Stockholders
at the
dividends
mailed to
filed permanent dividend
orders at this office.
Transfer books will close on Friday,
1907, at 3:00 p. m., and open on
June 6, 1907, at 10:00 a. m.
May 31,
Thursday,
PERKINS,
Treasurer.
Office of
FEDERAL MINING & SMELTING COMPANY.
32 Broadway, New York, May 27th, 1907.
The following dividends on the stock of this
Company have to-day been declared, payable
the close
June 15th to stockholders of record at
of business May 31st, viz.: one and three-quarters
(1%) per cent on the preferred
one
half (1H) per cent on the common
an
extra dividend of three and a half (3H) per
on the common stock.
The transfer books
be closed at 3 p. m., May 31st, and
10 a. m., June 10th.
F. J. KILNER, Secretary.
stock;
and a
stock, and
cent
will
reopened at
For
otb«r
dlyidends
see
li
page
xv.
5.00%
6.08%
6.20%
5.26%
6.60%
6.00%
accrued interest in payment
have been able to offer high-grade bonds
strongly advise those who have funds to
of the present low
prices.
Correspondence invited.
E. H
ROLLINS & SONS,
(Organized 1876)
IOWA CENTRAL
Coupons due June 1, 1907, from
5 per cent bonds of this company
WALTER W.
5s
furnished upon request.
Park or Sanitary District
Philadelphia. Pa., on and after June 19, 1907, to
the common stockholders as registered at the
close of business May 31, 1907.
E. H. ALDEN, Secretary.
Stockholders who have
4.25%
4.25%
4.25%
4.26%
4.35%
4.45%
4.60%
4.60%
4.60%
4.66%
4.60%
4.80%
4.80%
Circulars describing the above issues of bonds
Cook County, City of Chicago, South Park, West
Bonds maturing this year will be taken at par and
payable
&
4.20%
4.20%
4.26%
4.26%
Auditorium Annex 6s
Spokane & Inland Empire Railroad 5s
Chattanooga Gas Co. 5s
South Dakota Central R.R. 5s
Seaboard Air Line R.R. Col. Trust 5s
Guanajuato Power & Electric Co. 6s
The Board of Directors has declared a semi¬
annual dividend of two and one-half per cent
upon the common stock of the Company,
at the office of the Company, Arcade Building,
MASON CITY
3.83%
3.90%
3.90%
3.90%
3.95%
4.00%
4.10%
4.10%
4.13%
4.15%
4.15%
4.20%
ending
stock¬
tha
pany from the net earnings for
year
June 80, 1907, payable on July 1. 1907, to
holders of record at 8 o’clock p. m. June 10
Checks for
stockholders.
Public
partial
Yield About
$300,000 Cleveland, Ohio, 4s
19,000 Zanesville, Ohio, 4s
50,000 Allegheny County, Pa., 4s
6,000 St. Paul, Minn., 4^s
100,000 New York City Reg. 4s
7,000 Marion, Ohio, 6s
20,000 West Allis, Wis., School 43^s
30,000 Highland Park, Mich., 43^s__
23,000 Boulder, Colorado, 4J^s
75,000 Seattle, Washington, 4s
200,000 Spokane, Washington, School 4>oS
60,000 Oklahoma City School 43^s
25,000 Nashville, Tenn., 4^s
60,000 Pueblo, Colorado Refunding 4^s
43,000 Canyon County, Idaho, 4|^s
50,000 Pueblo, Colorado, Refunding 4J^s
26,000 Otero County, Colorado, 4J/£s
50,000 Pima County, Arizona, School 4J^s
9,000 Multnomah Co., Oregon, School 6s
22,000 Provo, Utah, 43^s
16,000 Richmond, Va., School 5s
25,000 Gaffney, S. 0., School 6s
25,000 Spokane Co., Wash., S. D., No. 122,
10,000 Newton, Utah School 5s
20,000 Lewiston, Utah, School 6s
17,000 Douglas, Ga., 6s
24,000 Eagle River, Wis., 5s
40,000 Claremore, I. T., 5s
9,000 Kansas City, Kansas, 5s
6 %
Philadelphia Water Company 5
New
carefully selected list of Municipal, Railway and
Corporation Bonds at very low prices, of which the following is a
We own and offer a
Service
Albion Gas Light Company
Chattanooga City Water Company
Celadon Terra-Cotta Company, Limited
Connellsvllle Water Company
Evansville (Ind.), City of, Bonds and Coupons
Johnstown, City of, Water Bonds
Kearney City Water Company
Larchmont Water Company
Lumberton Cotton Mills
Merrill City Water Works Company
Midland Terminal Railway Company
Mobile & Ohio Railroad Company, 1st Mort¬
Napanee Water Works Company
New Castle City Water Company
■-»
1
■
■■■■
—■
Hitricletids.
gage
xin
CHRONICLE
BOSTON
SAN
DENVER
CHICAGO
FRANCISCO
feedings.
The New York
WANTED.
Incorporated Steam Railroad Company
composed of Practical Railroad Men who are now
actually building a line of Railroad that will open
up thousands of acres of Cokeing Coal, Iron Ore
An
and
Individuals
and Virgin Timbered Lands in Kentucky
Tennessee, desire to correspond with reliable
Bankers, Bond Houses, Brokers and
who can place their Bonds by furnishing money
on same as the work o
construction progresses.
Control of the Stock to go with the
Address “Company,*’ care Commercial and
cial Chronicle, P. O. Box 958, N. Y.
Bonds.
Finan¬
WANTED.
Party now building Coal carrying
line of Steam
Railroad in Central States desires to associate a
gentleman having some Capital with him to
Excellent
handle Financial end of business.
opportunity with large profits to right party.
Address “Railroad,” care Commercial and Finan¬
cial Chronicle, P. O. Box 958, N. Y.
WANTED—By prominent New York
Banking and Bond house, members New
York Stock Exchange, bond salesman
County National
Bank
of New York.
New York, May 18, 1907.
To the Stockholders of The New
York County
National Bank:
Notice Is hereby given that a meeting of the
.Stockholders of Tne New York County National
Bank of New York will be held at the Banking
House. No. 79 Eighth Avenue, Borough of Man¬
hattan, City of New York, on Tuesday, the 18th
day of June, 1907, between the hours of 10 and
o clock a. m., to vote upon a proposition to In¬
crease the Capital Stock of the Bank from Two
hundred thousand dollars ($200,000), divided Into
11
two
of the par
($100) each, to Five
(2,000) thousand shares
One hundred dollars
value of
hundred
thousand dollars ($500,000), divided into Five
thousand (5,000) shares of the par value of One
hundred dollars ($100) each, and that for such
purpose the Board of Directors of
authorized to declare a Special Equalizing Divi¬
the Bank be
hundred thousand dollars ($300,000), to be paid from the Surplus Fund of the
Bank, the proceeds of such dividend to be used
In payment for the additional shares to be Issued.
Respectfully, JAMES C. BROWER, Cashier.
dend of Three
Applica¬ Beaver National Bank,
‘‘Bank¬
Beaver and Pearl Streets
Chronicle, P. O. Box 958.
New York €llf
for Pennsylvania territory.
tions considered confidential.
ers,” care
N. Y.
GEORGE M. COFFIN.
President
Vice-Presidents
WANTED—By a Bond Salesman, highly rec¬
ommended, with established connections and a
sales record, at present and since 5 years with
same
banking house, a position with strong
Address “D.C.L
banking house.
care of
. .
the Chronicle, P. O. Box 958. N. Y
S. H.
VANDERGRIFT
T. P.
J. V. LOUGHLIN. Cashier
Accounts
of Merchants,
and
WELSH
Individuals
Banks Solicited
[VOL. LXXXIV
THE CHRONICLE
XIV
financial.
*
■■■■■■mhhbbhhhhmbks*.
A
American
ORIGINAL LINES
WORK ON
NEW
IQTH
JUNE
RFADY
Railways
Investments
as
SNYDER
By CARL
THEIR HISTOR Y
THE GREA T
WHO OWN THEM
a-
THEIR TERRIT OR Y
GRO UPS AND THEIR A LLIES
WHO RUN THEM
-
STABILITY OF TRAFFIC
THEIR CAPITALIZATION
EARNINGS AND SURPLUS
THEIR RESOURCES
RECENT IMPROVEMENTS
THEIR FUTURE
CONDITION
RANGES OF MARKET PRICE
THE YIELD TO THE INVESTOR
WITH AN EXTENDED INTRODUCTION ON THE METHODS OF PROFITABLE INVESTMENT
This is a work designed for the Investment Banker and Broker, and more especially still for the general
himself.
It is practical, not theoretical, and presents a comparative and historical analysis
THEIR
of the
important railway companies
investor
(Studies in Value) of each
of America (nearly 100 in number), according to the following
GENERAL SCHEME
Increase of Capitalization from 1900
Importance and notable characteristics
Character of Traffic, etc.
History
Stability of Earnings
Territory (mileage, etc.)
Maintenance (track, etc.)
Ownership (Directors, number of shareholders)
Improvements from Earnings
Affiliations (Community of interest)
Surplus Earnings
Management (Who’s Who)
Dividend Record (and “rights”)
Capitalization (Rentals, Leases, etc.)
The Balance Sheet (Profit and Loss)
Value of Equities owned
Investment Value (Price and Yield)
Style of Capitalization
The theory of the work is that the primary consideration in the estimation of both bond and stock values is
not so much the underlying liens or collateral as the Factor of Safety on the interest and dividend payments; that
is, (1) the per cent or Total Net Income remaining after fixed charges and (2) after dividend payments.
Hence
the various items in the analysis of each company converge toward the point as to what is the actual safety and
stability of each class of securities.
While the central aim is thus a practical guide to safe investment of funds, Mr. Snyder has not failed to point
out the tendency of even the strong< st and soundest stocks to fluctuate widely, both much above and much below
their actual value, and the very considerable opportunity for profit which lies in careful buying, when they are
obviously “low,” and selling them out when the general level is high. The volume is handsomely printed and
bound, and contains over 700 pages.
PRICE PER COPY, $3.20, NET; BY MAIL, $3.40
THE
New York
Publishers
Street
Nassau
35
CORPORATION
MOODY
FBEDK. €. MATHIESONf & SONS, IO
Copthall Ave., London, E. €.
Chartered Bank of India, Australia and China.
Head OfficeHATTON COURT,
54,000,000 00
0,270,847 00
2,708,011 02
Circulation
00,022,972 79
Deposits, Call and Time
Bills and Loans Payable
Acceptances Account Customers
Due to Agents, Branches, Con¬
tingencies and Adjustments
10,464,545 58
5,820,733 41
3,577,977 49
for
Securities
Circulation
$5—£1
”
1,895,229 75
71,002,015 97
5,820,733 41
1,098,547 08
1,217,230 75
$104,931,085 89
ending 31st Dec., 1906.
Cr.
Sterling.
$430,558 58
By Balance at 31st December, 1905
Gross Profits for the.
Interim Dividend, for the halfyear to 30th June last, at the
rate of 13 per cent per annum
Bonus to Staff
and!
Government Deposits
[
Bills of Lxc., Discounts & Loans.
Liabilities of Cust. per ContractsDue by Agents, and Sundries
Premises and Furniture at Head!
j
Office and Branches
Profit and Loss Account for the Year
Dr.
“
$200,000 00
year,
Balance proposed dealt with as follows:
Dividend
at
the
rate of
13 per
cent.pc annum,
for the half-year
to date
$200,000 00
Reserve Fund
500,000 00
Officers Superan¬
nuation Fund-..
50,000 00
Bank Premises
125,000 00
Profit
and
Loss
New Account
40G.847 00
after
STOCKHOLDERS OF
THE
TO
pro¬
Deduct:—
Expenses of Manage¬
$1,321,288 42
1,321,288 42
Net Prollts for the year
that a special meeting of
Pacific RR. Company
called by the Board of Directors to con¬
Notice Is hereby given
has been
vene
at the
-
$1,751,847 00
March,
Incorporation of said Company, recom¬
by the Board of Directors, Increasing Its
common capital stock by the amount of $100,000.000, and of authorizing the Issue and use of
such additional stock and of taking all suitable
Books, Vouchers
ALEX. MILLAR. Secretary.
and Securities at thcHead
the several Branches.
M. N. GIRDLESTONE,
M. MO WAT,
Cuban
1
} Auditors.
Securities
A SPECIALTY
FRANCKE THOMPSON & ROBB
LEASE
large and commodious offices
the stock (both
^
go geasc
The
premises.
preferred and common) will be closed for the pur¬
pose of the meeting at 3 o’clock P. M.. on the
29th day of May, 1907, and will be reopened at
10 o’clock A. M. on the 17th day of June. 1907.
$1,751,847 00
1907.
and found correct, according to the
Office, and to the Certilled Returns made from
Examined
TO
Lake
Articles of
1,401,847 00
27th
olllce of the Company at Salt
City, In the State of Utah, on the 15th day of
June, 1907, at 12 o’clock M., for the purpose of
considering and acting upon an amendment of the
By order of the Board of Directors.
..
London,
UNION
the stockholders of Union
The books for the transfer of
87
Office & Branches 1,223,908
THE
PACIFIC RAILROAD CO.:
action In the
ment and General
Charges at Head
York, May 9, 1907.
mended
viding for bad and
doubtful debts .$2,545,197 29
90,000 00
120 Broadway, New
$17,010,315 35
0,227,007 58
Cash and Bullion
Gov’t and other Securities
S104.931.085 89
“
Special Meeting of Stockholders.
Cr
ASSETS.
LIABILITIES.
Capital
Surplus and Undivided Profits
To
Company.
DEC., 1906.
CONDENSED STATEMENT, 31ST
$5—Cl Sterling
Dr.
Union Pacific Railroad
THREADNEEDLE ST., LONDON.
on
the
JAMES TALCOTT
Banker and CouhuImAod merchant
Manufacturers* and other Accounts
Solicited and Financed
'
SALES CASHEL
Equitable Latereat Allowed on Deposits
108-110
Franklin St., NEW
YORK
Members N, Y. Stook Exchange
43
First Floor of 66 Wall Sfcreat
Exchange Place
C. B. VAN
NOSTRAND.
Te'ephone 194B Broad
extending through to Pine Street, with vault aad
basement on Pine Street
Apply to WM. O. PLATT. 56 Wall St.. R 40.
BRANCH OFFICE
Bristol
5th Ave. and 4£d St.
Telephone 1598 Bryant
Bull dinar,
30 WALL STREET,
Investment Securities
June
THE CHRONICLE-
11907J
^iwaucial,
$10,000,000
DELAWARE & HUDSON COMPANY
First Lien
DATED
JULY
Equipment 4&% Fifteen-Year Gold Bonds
DUE JULY 1, 1922.
1, 1907.
Interest
payable January 1 and July 1.
with privilege of registration of principal.
Principal and interest payable in gold, without deduction for any tax or taxes which the Company may be re
quired to pay thereon or retain therefrom under any present or future law of the United States, or of any,State, County
Coupon Bonds in Denomination of $1,000 each,
or
Municipality thereof.
To be secured by a first lien upon Equipment, certified by the Company to cost in excess of $11,000,000.
The
indenture providing for such lien will contain provisions for the proper maintenance of the Equipment and for the pay¬
ment by the Company to the Trustee of an annual Sinking Fund of $660,000 in cash, which is to be applied either to
the purchase and cancellation of Bonds of this issue or to the purchase of additional Equipment, to become subject to the
indenture as additional security for the Bonds, or to the purchase of Bonds legal for investment by Insurance Companies
in the State of New York, which Bonds are to be held as further security under the Trust Indenture.
Such Bonds so
accumulated may be subsequently sold and the proceeds applied to the purchase and cancellation of Bonds of this issue,
or to the purchase of new Equipment to become subject to the lien of the Bonds.
WE ARE ADVISED BY COUNSEL THAT THESE BONDS
FOR INSURANCE COMPANIES IN
WHEN ISSUED WILL BE A LEGAL
INVESTMENT
THE STATE OF NEW YORK.
above bonds, the undersigned offer the unsold balance, subject to
they yield about 6%.
Payment for bonds purchased is to be made on July 1, 1907, against delivery of Interim Certificates of the
Having sold a large portion of the
change in price, at 95%, at which price
sale and
Trustee.
KUHN, LOEB & CO.
FIRST NATIONAL BANK
1907.
Now York, May 28,
gitriAcuds
Winslow,Lanier & Co., 59 Cedar St.
NEW
YORK
The Phenix National Bank
OF THE CITY OF NEW YORK
CITY
THE FOLLOWING COUPONS AND DIVI¬
DENDS ARE PAYABLE AT OUR BANKING
HOUSE ON AND AFTER
JUNE 1ST. 1907.
American Cotton Oil Co. Pfd. Stock Dividend,3 %.
Blackford County, Ind., Court House 5s.
Cambridge CMty, Ind., Improvement Bonds.
Cincinnati Richmond & Ft. Wayne Ry. Co. 1st
Mortgage 7s.
Cleveland & Pittsburgh Rcl. Co. Regular Stock
Dividend (quarterly), 1 •'*» %.
Cleveland & Pittsburgh Rd. Co. Special Better¬
CONDENSED STATEMENT MAY 20, 1907
RESOURCES.
$6,343,840
23,000
1,025.000
650.134
Loans and Discounts
Premium on U. S. Bonds....
United States Bonds
Other Stocks and Bonds
Cash and
40
00
00
75
LIABILITIES.
Capital
Surplus and Undivided Profits.
$1,000,000 00
454,488 10
26,200 76
Reserve for Taxes and Interest.
Circulation
993,800 00
Sight Exchange 5,322,750 62 Deposits
Bonds Borrowed
10,871,242 97
$13,370,731 83
$13,370,731 83
25,000 00
.
ment Stock (quarterly). 1 %.
Grant County, Ind.. Gravel Road Cs.
Marlon County, Ind., 5s.
Pendleton, Ind., .School 0s.
Pittsburgh Ft. Wayne & Chicago Ry.
Mortgage 7s. Series “F.”
Pittsburgh Ft. Wayne & Chicago Ry.
Mortgage 7s, Series “M.”
mi2StEM£
FINIS E.
B.
L.
ALFRED M. BULL. I'd Vice-President.
Cashier.
H. C. HOOLEY. Assistant
HASKINS. Cashier.
Co. 1st
Co. 2d
August Belmont,
E. W. Bloomlngdale,
Alfred M. Bull.
D. Crawford Clark,
Randolph Co., Ind., Sinking Fund.
JUNE 3D.
Funding 3 Lis.
Marion County, Ind.,
Robert P. Perkins,
DIRECTORS.
Edwin A. Potter,
Henry K. Pomroy,
George Cuffing Warner,
Henry W. De Forest,
JUNE 7TH.
Bonds. Series No. 2.
0 %
Greenfield, Ind.
MARSHALL. President.
AUGUST BELMONT, Vice-President.
Wm. Pierson Hamilton,
Richard II. Higgins,
Elbert H. Gary,
J. C. Van Blarcom.
Frederick I). Underwood,
Irving A. Stearns,
Finis E. Marshall.
To the Holders of
JUNE 10TH.
liul.. Refunding 4s.
Marlon County,
JAMAICA WATER SUPPLY CO.
JUNE 15TH.
Monroe County, Ind., Refunding 5s.
Grand Haven, Mich., Refunding Bonds.
1st
JUNE 20TH.
Decatur County, Ind., Annual Gs.
Marlon County, Ind., Refunding 3>is.
Mortgage
The above-described bonds will be
The
United States of Mexico
4% Gold Debt of 1904
Coupons due June 1, 1907, of the
will be paid on presentation at our
after that date.
paid at maturity, principal and interest, on
Peoples Trust Company,
181-183
above bonds
office on and
Montague St., Brooklyn.
offered the option of exchanging their present
WATER SUPPLY CO. Unified 1st Mortgage 5% Gold
Bonds due July 1st, 1954, at 98 and accrued interest.
Applications for exchange should be made to THE PEOPLES TRUST COM¬
PANY.
JAMAICA WATER SUPPLY CO.
Holders of the above bonds are
holdings for JAMAICA
SPEYER & CO.,
24-20 Pine .Street.
York, May 30, 1907.
Charles A. Lockwood, President.
INTERNATIONAL PAPER COMPANY.
The regular quarterly dividend of ONE AND
ONE-HALF PER CENT on the Preferred Stock
has been declared, payable July 1st, 1907, to
stockholders of record at the close of business
June
15th, 1907.
Transfer books will close
June 15th, 1907, and reopen July 1st,
1907.
Checks mailed.
E. W. HYDE, Secretary.
For
other
dividends
Due June 1, 1907.
presentation at the office of
JUNE 30TH.
Indianapolis, Ind., Refunding 4s.
New
6% Bonds
page
xiii
MAX B. BOBG & CO.
Hiicettaneoua
Bonds
Mid
Oorb
Securities
A BPE0LALTY.
JO BROAD 8T.
NEW
2806 REOTGR.
YORK.
PRIMROSE & BRAUN,
New
York
Fire
City
Bank,
Insurance
43 Exchange Place
-
Trust
ai
Stocks
NEW YORK
[VOL. LXXXIY.
THE CHRONICLE
XVI
ytnatuial.
$10,000,000
CHICAGO ROCK ISLAND & PACIFIC RAILWAY CO.
FIRST AND REFUNDING MORTGAGE 4 PER CENT GOLD BONDS.
Dated
Due April 1, 1934.
Semi-Annually April 1st and October 1st in New York.
April 1, 1904.
.
Payable
Principal and Interest Payable in U. S. Gold Coin.
Redeemable at the option of the Company at 105 and accrued interest on
or prior to April 1st, 1911, on sixty days’ previous notice.
Coupon Bonds of $1,000 each, with privilege of registration.
Registered Bonds may be re=exchanged for Coupon Bonds.
Interest
CENTRAL TRUST COMPANY OF NEW YORK
AND DAVID R. FRANCIS, TRUSTEES.
The Bonds
are a
direct obligation of The
Chicago Rock Island & Pacific Railway Company, which was
formed in the year 1880, from which time it has
1899 at not less than 5 per cent per annum.
The First and
uninterruptedly paid dividends on its capital stock, and since
Refunding Mortgage 4% Gold Bonds are secured by a first lien (either
directly
through
or
pledge of the entire issue of First Mortgage Bonds) on terminal properties in St. Paul, Minneapolis and St.
Louis, new equipment and shops at Moline, Ill., and on railway lines aggregating 1,148 miles, including
the line from St. Louis to Kansas City, and are also secured by a lien (subject to existing mortgages) on all
the lines of the Railway Company, aggregating 5,659 miles, exclusive of leased lines and trackage.
The total amount of Bonds is limited under the mortgage to
$163,000,000, whereof there have been issued
$66,851,000 Bonds, including the above $10,000,000.
The proceeds of the sale of the above $10,000,000 Bonds will be applied by the Company
000 Notes maturing July 1 next, and the balance for betterments and improvements.
The total net
receipts for the
year
leaving
a
Railway
$17,186,636
10,400,805
ended June 30, 1906, of The Chicago Rock Island & Pacific
as officially reported, were
and the taxes, interest on bonds, rentals,
Company,
to pay $7,500,-
and improvements on leased lines
$6,785,831
surplus of
April 30, 1907, The Chicago Rock Island & Pacific Railway Company reports
compared with the same period during the year 1906:
For the ten months ended
the
following earnings,
as
’
Average Miles Operated
Gross earnings
Operating Expenses
Net
We
1907.
1906.
7,717.22
$49,759,444
33,245,313
7,205.34
$43,135,739
29,268,687
Increase.
511.88
$6,623,705
3,976,626
$2,647,079
offer these Bonds for public subscription at 87% and accrued interest,
at which price they yield a net income of about 4%% per annum.
$16,514,131
$13,867,052
THE SUBSCRIPTION WILL BE OPENED AT THE OFFICES OF THE UNDERSIGNED AT 10:00 A. M. ON MAY
31, 1907, AND WILL BE CLOSED AT 3:00 P. M. OR EARLIER, ON THE SAME DAY, THE RIGHT BEING RESERVED
TO REJECT ANY
AMOUNT THAN APPLIED FOR.
IN LONDON BYJVIessrs.^SPEYER BROTHERS. ;AND
APPLICATION, ANDJTO AWARD A SMALLER
SUBSCRIPTIONS WILL"ALSO;BE RECEIVED
In BOSTON Jby Messrs. N. W. Harris & Co., In CHICAGO by the Harris Trust & Savings Bank,
In PHILADELPHIA by Messrs. Henry & West.
fort
Payment for the Bonds allotted is to be made in New York funds on or before June 3, 1907.
Bonds of this issue are already listed on the Stock Exchanges of New York, London, Amsterdam,
and Berlin, and application will be made to list the above Bonds on the same Exchanges.
legal investment for Trustees and Savings Banks in New York State, and are
by the Secretary of the Treasury at Washington as security against deposits of Customs Receipts in
These Bonds
are a
Frank¬
accepted
National
Banks.
Copies of the Mortgage securing the above Bonds and copies of a letter in reference thereto from B. F.
Winchell, Esq., President of The Chicago Rock Island & Pacific Railway Company, addressed to the under¬
signed, may be obtained at our office.
New York, May 27, 1907.
SPEYER
& CO.,
24-26 Pine Street.
TO
THE
HOLDERS OF
$7,500,000 CHICAGO ROCK ISLAND & PACIFIC RAILWAY COMPANY
3-Year 4&% Gold Notes Due July I, 1907. '
We are prepared to accept on June 3rd these notes at the price of par and accrued interest, in payment for CHI.
CAGO ROCK ISLAND & PACIFIC RAILWAY COMPANY FIRST AND REFUNDING MORTGAGE 4% GOLD
BONDS at the price of 87
and interest,
New York, May 27, 1907.
as
stated
in above Notice.
SPEYER &
CO.
June 1
xvn
THE CHRONICLE.
1907.]
ffitratjcial
New York,
June J, 1907*
THE WASHINGTON
OF THE
TRUST CO.
CITY OF NEW YOKE
removal from
Announces
Stewart
Building, 280 Broadway, to its new
banking offices in the Postal Telegraph
Building, Broadway, cor* Murray St*
TO YIELD 5AA%
2,000 Shares
Connecticut Railway
Four Per Cent Guaranteed
& Lighting Co.
Common Stock
Leased to the Consolidated Railway
LEASE GUARANTEED BY
NEW YORK NEW HAVEN &
HARTFORD RR. CO.
FUND
Payable Quarterly, February, May, August and
AND A CASH
Dividends
November 16th.
Savings Banks in Connecticut and New York
The property of this company is leased for 999 years from December 19th, 1906, for a rental which, with the cash
fund on deposit with the Colonial Trust Company, is sufficient to pay 4% up to the year 1914 and about 41-3% thereafter.
The rental for the property is payable direct to the stockholders of rceord, through the Colonial Trust Co. of New York,
the trustee under the lease.
We consider this stock as exceedingly attractive on a 5J£% basis, and as reasonably sure to sell at or above par
in course of time.
This is the cheapest obligation of the New Haven System, either in the shape of guaranteed stocks or debentures, and
believe this stock to be, if anything, better than an unsecured debenture bond; in view of the fact that if, in the remote
future, it should be found necessary to fall back on the property, instead of on the guaranty, the Connecticut Railway &
Lighting Co. itself would undoubtedly be found capable of earning the dividend; and the claim on the guarantor company for
the rental would still rank equally with the claim for interest or principal on any debenture bond.
Price 75 and Interest, Subject to Sale and Change in Price
Legal Investment for
we
FURTHER DETAILS ON
Orders may be
F.
30 BROAD
J.
& CO.,
NEW YORK
STREET
Building. Philadelphia.
•"]
telegraphed at our expense.
LISMAV
404 Connecticut
Land Title & Trust Co
APPLICATION.
Mutual Building,
Hartford.
169 East Jackson Boulevard, Chicago.
[VOL. LXXXIV.
THE CHRONICLE.
xnn
financial
••
$2,500,000
NORTH AMERICAN COMPANY
5-Year Five Per Cent Collateral Trust Gold Notes
Dated
Due May 1, 1912
May 1, 1907
Interest
Denomination $1,000.
Payable May 1 and November 1
Coupon Notes with the Privilege of Registering the Principal
Redeemable at 101 and interest on and after May 1st, 1909, on 30
days’ notice.
MORTON TRUST COMPANY, NEW YORK, TRUSTEE
Authorized Issue, $5,000,000.
,
capital stock of the Laclede
Gas LightTCompany of St. Louis and by $1,500,000 par value of the capital stock of the Union
Electric Light & Power Co. of St. Louis.
The Laclede Gas Light Company has paid dividends
at the rate of 5% per annum since 1903.
The Union Electric Light & Power Company will be
placed upon a dividend-paying basis this year. The par value of the collateral is 30% in excess
Secured
of the face
by the deposit of $5,000,000 par value of the common
value of the notes.
deposit ad¬
ditional collateral, if necessary, so that the appraised value of the pledged securities shall always
be at least730%, in excess of the par value of the outstanding notes of this issue.
The North American Company has no debt except that created by the present note issue,
It is furthermore
provided in the Trust Agreement that the company shall
and^hasjpaid dividends since 1903, the present rate being 5% per annum upon $29,792,300.
(Authorized, $30,000,000.) capital stock. The total cash earnings of the company amount to
over
six
times
The North American
of which is
as
over
charges.
its interest
Company has in its treasury stocks and
$29,000,000.
bonds the appraised value
These are free assets, with the exception of the amount
pledged
security for these notes.
Having sold
a
large amount of these notes at private
sale, we offer the unsold balance at
93£& and Interest, yielding over B1/^ per cent
Special Circular on Application
REDMOND & CO.
507 Chestnut St.• Philadelphia
33 Pine Street, New York
Cables
‘ Mimosa” New York
LEE, HIGGINSON & CO.
The
Rookery. Chicago
44 State Street, Boston
Cables VHitcinson” Boston
financial
ommstrta
V
INCLUDING
^
State and City Section (seim-Annuaife}
Street Railway Section
Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)
Bank and
NO. 2188.,
SATURDAY, JUNE 1 1907.
VOL. 84.
Week ending May 25.
Chronicle.
Clearings at—
PUBLISHED WEEKLY.
Terms of
For One Year
For Six Months
13 00
7 00
.£2 14 s.
(including postage)
European Subscription six months (including postage)
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)
Canadian Subscription (including postage)
£1 11s.
$11 50
Supplements—
B \nk and Quotation (monthly)
I Statk and City (semi-annually)
Railway and Industrial (quarterly) | Street Railway (3 times yearly)
Terms of Advertising—Per Inch Space
Subscription includes following
e
Standing Business
Cards
$4
20
22 00
(14 agate lines)
Transient matter per inch space
(S times),
Two Months
!!:!!!!!:!U!
.
(.
Twelve Months (52 times)
!« 00
87 00
Block; Tel. Harrison 4012.
Gardens, E. C.
CHICAGO OFFICE—P. Bartlett, 513 Monadnock
LONDON OFFICE—Edwards & Smith, 1 Drapers’
Pine Street,
CLEARING HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all the clearing houses of
the United States for the week ending to-day have been
$2,341,553,589, against $2,767,355,805 last week and
$2,494,178,694 the corresponding week last year.
Clearings—Returns by Telegraph.
Week ending June 1.
New York
Boston
1907.
1906.
S1.058,321,148
87,473,099
SI ,173,392,549
103.934,471
18.459,341
162,040,734
a44.090.000
13,208.426
Philadelpha
Baltimore
Chicago
St. Louis
New Orleans
Per
Cent.
—9.8
98,724,320
107,783,995
19,005,311
142,613,148
41,078,177
7,685,990
—11.4
—3.6
—2.9
+ 14.0
—6.4
+ 14.5
Portland
Worcester
Fall River
New Bedford
Lowell
■
'
Holyoke
-
-
-
-
162,550.617
246.891,703
26,847,750
17,649,660
13,429.947
--
9,624,729
Total New Eng.
Chicago
Cincinnati
Cleveland
--
Detroit
Milwaukee
Indianapolis
-.
--
Toledo
--
Peoria
-Grand Rapids.--
Dayton
--
Evansville
- -
Kalamazoo
--
Springfield, Ill.--
+ 7.1
+ 71.9
Rockford
..
....
Bloomington
South Bend
Quincy
Mansfield
Springfield, Ohio
Decatur
Jackson
Jacksonville, Ill.
Ann Arbor
Seven cities, 5 days
Other cities, 5 days
SI ,488,043,819
343.268.491
Total all cities, 5 days
All cities, 1 day
$1.831.312,310
$1,890,032,183
299,748,693
510,241.279
604.146,511
—3.1
—15.5
$2,341,553,589
$2,494,178,694
—6.1
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 night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur¬
day noon, May 25, and the results for the corresponding
week in 1906, 1905 and 1904 are also given.
Contrasted with
the week of 1906 the total for the whole country shows a
gain of 4.2%. Outside of New York the increase over
1906 is 12.3%.
Week ending May
Clcarsngs at—
1907.
1906.
Dec.
S
$
1,665,808,119
154,489,515
50,201,443
26,192,485
%
1,656,086,092
138,469,660
56,930,193
26,689,723
New York
Philadelphia
Pittsburgh
Baltimore
Buffalo
2,073.943
7,464,645
5,915,85S
5,246,713
3,450,000
1.818,227
1,980,920
1,467,950,
1,456,578
1,231.071
8,556,186
5,984,893
7,948.681
3,177,393
Washington
Albany
Rochester
Scranton
Syracuse
Reading
Wilmington
Wilkes-Barre
Wheeling
Erie
Chester
Binghamton
Greensburg
Franklln>
Harrisburg
...
....
Total Middle..
25.
Inc. or
1,240,858
1.182.818
1,152,164
660,028
507,282
506,400
568,226,
271,225
1,209,998
1,048,254!
804,635
1,037,819
—0.6
—10.4
+ 13-4
+ 19
+ 14.6
+ 1.2
+ 51-5
—7.9
+ 14.0
+36.0
+ 19.2
+ 2.5
+ 14.0
848,173
573.177
497,567
479.900
+ 35.8
+ 15.2
+ 2.0
+ 5.5
432,147
+31.3
+ 8.5
+ 30.3
249.970
1,916,502,889| 1.929,408,040
1905.
1904.
$
$
55.791.749
24,563.130
6,307.142
5,368.135
4,194,842
3,875,893
1,589,888
1,265,858
1,009,767
973,978
948,615
749,547
494.359
400,533
435,500
442.549
242,965
+37.8
+ 4.3
+ 39.1
+20.9
+ 3.9
+ 4.3
1,399,710
1,520,953
632.483
494.432
440,986
485,106
159,592,004
+ 1.9
194,908.453
+ 26.7
150.005.861
184,945.142
22,540,100
12,755.728
10,684,852
7.379.708
5.778.200
24,837,850
+ 8.1
14.450,909
+ 22.1
+ 14.6
+ 10.0
259,874
250,000
219,578
88.638,024
30,667,800
68,653.128
21,858.609
21.870,896
10,660,513
8,868,458
7,809,099
6,407,414
15.220,441
9.992.459
7,425.754
5,639,813
2,907,051
2,028,083
I 3°5,‘>‘>7
2,337.674
1,753.083
1,353.804
1,555,806
1,137,912
..
..
Total Pacific..
City
Minneapolis
Omaha
St. Paul
Denver.
St. Joseph
Dos Moines..
Sioux City
.
..
...
..
Tot. oth.West.
St. Louis
New Orleans
.
Atlanta
Memphis
.
Fort Worth.
Norfolk
Birmingham
Knoxville
.
Augusta
Mobile
Jacksonville
Charleston
Chattanooga
Little Rock
+ 10.3
+ 12.2
+ 5.5
+ 47.5
+ 29.6
+11.9
—32.4
—21.9
+ 20.8
+ 15.3
Macon
1,371.998
1,303.333
575,000
250.000
1,440.000
480 000
495.000
.
Waco
Beaumont
15,298,320
11,999,280
8,421,425
5,631,500
5.223,241
4,522,031
4,551.230
3.784,624
3,734,962
2,393,034
2.311,409
1,840,826
1.569.904
1.464.376
1,447,915
1,233.338
1,194.747
+ 11.9
245.872
1,200.000
600,000
152,727,318
2.767,355,865 2,654,984.702
4,144,347
3,524,449
2,438,079
1,692,667
1,046,648
1,044,705
1,021,420
Outside N. Y__
1.111.269,773
989.176,583
31.725.000
19,801,831
13,054,806
3,845,100
21,968,895
18,995,782
9.375,291
2,038,038
854,614
680,535
518,733
423,124
459,700
301,484
223,527
—0.7 2,065.980.470 1.214,794,805
Vancouver.
Ottawa
3,059.166
1,931,500
1,800,000
Quebec..
lialifax
1,500,487
Hamilton
St.John
.
London
Victoria.
Edmonton
.
.
Total Canada.
1,323.522
+36.8
+20.2
+ 25.3
+ 3.0
450.000
999,778
469.684
Total all
Winnipeg
+ 31.7
+ 0.7
136,538,700
1,155,422
Total Southern
Canada—
Montreal
Toronto
—6.3
+ 14.4
—0.2
—8.8
—0.04
+ 18.2
+ 7.5
+ 18.8
+ 30.4
+ 22.4
+ 1.7
+ 20.0
—20.0
+ 10.0
39.607.006
17,126,117
5.680,045
4,847,498
3.313.625
4.073,505
3.249,831
2,943.444
723,614
444.809
193,863
11,542,411
9,335,608
7,293,932
5.254,275
3.777,600
2,568,162
2,363,912
1.876.887
1.483,539
1,119.858
622,632
637,569
589,687
597,590
472,009
578,100
487,802
383,300
381.036
159,660
305,193
270,055
243,255
164,293
81.329
220,264.165
25.741,199
5.750.666
5,300.000
2,410.728
2,586,177
1,973,801
1,976.974
428,211
3,80,114
163,857
2.010,358
1,451,517
1,916,783
1.198,575
1.036.531
967,108
1,079,917
838.271
1,271,200
674.726
1,474,500
Not
included
889.000
62.472,475
81.867,029
59.177,737
20,950,488
14,295,759
7.935.700
5,969,996
5,806,245
4,427.374
2.358,914
1.549,212
44,717,727
16,913.216
16.967.364
7,383.651
5,817,292
4,050,454
3,700,932
2,005,373
1,228,916
—2.1
54,831.782
1,284.500
267,571,031
30,557.125
8,830,423
+ 36.7
+ 5.2
60,470,035
3,552,275
4.526.187
4,306.445
3,274,604
2,778,382
2,306.444
1,617,635
1.336,216
1,447,387
1,457.534
.
_
5,039,423
+ 29.9
3,056,732
788,316
712.387
782,556
771,413
582,497
528.132
604,000
380,709
316,929
352,149
292.032
307,106
308,881
300,660
235,120
204.273
86.442
+ 40.3
+ 43:7
+ 6.7
+ 19.4
+ 38.5
+ 27.2
+ 24.4
+ 15.7
75,281,805
5,845.124
Richmond
Savannah
Nashville
1,505.687
+ 29.1
97,843,491
7.300,000
436,823
125.399,816
146,650.568
21.020,300
—
549,460
623,362
243.262
17.164,457
12,663.428
12,424,602
Louisville
+ 38.7
+ 21.2
+ 12.9
+ 7.7
+ 53.6
+ 28.5
+ 47.3
+ 10.4
+ 4.0
+ 43.3
14.3
in total
898.762
834.206
524.529
550,519
473,244
241,573
600,000
Rapids
Pueblo
Fremont
Houston
Galveston
4.820.777
4,648,360
945,058
781.402
Davenport
Colorado Springs
Cedar
9,410,553
8.384,247
+ 22.3
401.882
1,953.347
1,599,084
—
128.028
1,868.088
1,279,369
1,387.669
1,120,783
552,357
429,348
4.668.300
3,559.245
+26.3
+ 2.2
+ 10.9
+9.0
+ 29.0
+ 33.3
13.4
+ 13.3
318,183
109,562,716
6,045.400
2,265.381
2.587,970
—9.2
+ 17.2
+ 18.0
—13.5
+ 38.8
+ 52.1
+ 25.8
+ 18.0
453.000
438,495
359.008
342,446
333.495
333,861
3.787.786
3.755,097
7(H), 827
427,257
305.065
3.000,000
Not Included
Helena
Fargo
Sioux Falls
Oakland
San Jose
+ 11.6
+ 6.9
+ 1.3
—0.06
+ 7.6
+ 25.6
+ 26.3
+ 23.7
487.817
5.531,054
783.671
444,534
437,290
2,570,511
Columbus. Ga
1.821,694,781 1,026,904,201
107.103.404
135.507,239
1.634.435
1,485,060
772.376
621,899
472,373
465,454
4,868,043
.
The full details for the
2,670.011
2.152.145
1,693,973
Spokane
.
Portland
Wichita
Partly estimated.
+32.3
Tacoma
.
Topeka
a
1,612,289
285,511,025
29,404,159
San Francisco..
Los Angeles. .
Seat t le
Salt Lake City.
—0.8
—11.6
+ 12.8
349,043.526
40,797,389
11,406.735
9,468.238
5,191,904
7,138,655
Tot. Mid.West.
$
131,041,962
7,474.100
3,514.701
2.056,833
3.822,857
2,745,783
2,301.027
1,581,117
1.424,914
865.578
737,685
747,337
703.441
646,464
875,735
829,743
558,908
676,997
689,000
551,818
425,791
432.380
340.893
370,121
346.702
335,184
333,333
190,061
145.000
-
1904.
1905S
%
+ 1.1
11,725,297
8,298,354
6.554,773
5.235,400
7,312,563
5,598,000
3,872,703
2,744,217
2.474,953
1,985,327
1,799,487
1,071.122
669,655
- -
Columbus
Akron
Canton
2,321,051
2,133,040
2,252,118
1,548,967
1,074,044
751,918
490,949
485.623
Kansas
SI,590,283,490
Total all cities for week
Springfield
Lexington
NEW YORK..
Box 93S«
-
_
7,621,200
7,562,500
3,107.326
Hartford
New Haven
Fort Wayne
Youngstown
COMPANY, Publishers,
Corner of Pearl Street,
WBL.L.1AM B. DANA
Post Office
140,823.081
Boston
Providence
Inc. or
Dec.
$
139,335.384
S
Subscription—Payable in Advance
$10 00
<> 00
European Subscription
1906.
1907.
1,090.877
1,058.342
624,298
621.714
460,000
381,574
166,520
67,697,013
58.3S7.19S
10,487,675
11,125.160
5,991.716
4.587.500
4.570,131
2,904,311
2.690.118
2.804.012
4.202.908
2,169.381
1,817,631
1,271,707
985,081
1,420.940
959,092
1,111.218
1,061,844
899,487
845.707
.
421.569
208,357
1,009,085
969,965
701.100
477,568
419,598
188,678
55.833,192
51,527,813
13,351.909
10,107.594
4,936,612
2.734.000
5,054,244
2.581,401
2,320.817
2,099,700
3.406,157
1.360,820
1,587.086
1.164.641
1.134,955
762,709
806,302
1,093.014
725.252
752.916
265.596
248.375
450,000
400.000
108,412,073
127,328.743
+ 4.2 2.737,766,655 1,769.422,378
742,518.177
916,072,074
+ 12.3
+ 44.4
+ 4.2
+39.2
+ 88.6
+ 52.2
+ 33.1
—6.1
+ 25.2
+ 27.7
+ 11.7
+ 51.7
+ 118.5 1
in total !
+31.0
21,927,717
15.866.762
4,729.776
1.277.285
2,176.516
1,278,898
1,352.310
1.542.131
884.679
766,241
610,274
52.412,589
14,582.519
13.233.750
4.350.109
1.172,364
1,631,726
1,181,149
1,637,780
942,42T
773,226
684.086
368,848
40,557.970
and
newspapers
THE FINANCIAL
The
a
SITUATION.
stock market has been
extremely variable,
prices declining materially Monday and Tuesday. On
Wednesday a check in the decline and a partial recov¬
ery in values was a feature, which after the holiday,
Thursday, seemed to be continued. The situation the
first two days indicated an approach to general railroad
insolvency and an absolute loss of credit in everything
dealt in at the Exchange.
Investors who had freely
put their money in the securities of our railroads and
leading industrials, arid given it and them to the public
for their advantage and benefit, found themselves and
their properties jumped upon by the leading politicians
in every State in the Union and they themselves de¬
prived of ownership, the passenger and freight rates
being arbitrarily fixed by law below a figure sufficient
to yield revenue enough to cover expenditures and
can
and confirmed
by Mr. Roosevelt's Memorial Day speech at Indianapo¬
lis on Thursday.
We credit the President with good
intentions. The speech is a well-meant effort to allay
the feeling of uneasiness with reference to his policy
foregoing conclusions are fortified
which has been steadily growing
But whether it will have the effect
towards the railroads,
intended is open to question. As is nearly always
true of Mr. Roosevelt's extended utterances, there are
excellent passages in his speech—passages
worthy to adorn a book on ethics—but, completing the
analogy with the past, these are overbalanced by other
statements and remarks which tend to increase alarm
rather than quiet it.
These passages, taken apart
from their context and quoted separately and printed
in conspicuous type, as has been done in some of the
daily papers, look very encouraging and create a good
impression; the feeling of satisfaction in great measure
disappears when they are read in connection with the
rest of the sentence or paragraph, and it is seen that
the favorable meaning which they seemed to have must
be very greatly qualified.
What, for instance, could be more assuring
than this: “One great problem that
we have
before us is to preserve the rights'of property."
Seeing that quotation by itself, one is led almost in¬
voluntarily to say that it is the whole case, and the
President after all understands the situation perfectly.
But when we search for the quotation in the speech, we
find that it is simply the opening clause of a sentence
containing a second clause, and that the latter is much
the more important, the first serving simply as a basis
for the second, so that the completed sentence reads as
follows: “One great problem that we have before us
is to preserve the rights of property, and these can only
be preserved if we remember that they are in less
jeopardy from the Socialist and the Anarchist than from
the predatory man of wealth." By the way, “preda¬
tory" is the word so freely used by Mr. Hearst in his
be
no
The sentence quoted from the
followed by the remark: “There
halt in the course we
have deliberately
policy of asserting the right of
has the power, to supervise and
control the business use of wealth, especially in its
corporate form." With this before us, one is reluc¬
tantly forced to the conclusion that there is to be no
change of policy after all.
Indeed, great pains are taken to announce that the
President's views and determination remain unaltered,
and that the object of the speech is simply to indicate
that this policy is not to have the serious consequences
remuneration for the capital invested.
joining in these harsh and confisca¬
tory measures, took their cue from the leader of the Re¬
publican Party, who has pursued the policy indicated
all through his administration, seeking to secure the
favor of the discontented and socialistic classes, until
he has made his party, though holding the position of
conservatives during past years, at the present time
out-bidders for the votes of the Bryanites and radicals.
many
the stump during the late guber¬
elected to pursue, the
the nation, so far as it
The State officials,
in recent months.
on
natorial campaign.
President’s speech is
waste and proper
The
[VOL. LXXXIV.
THE CHRONICLE.
1270
told, “dealing
with corporations or with railroads that has been put
upon the statute books during the last six years (the
period of Mr. Roosevelt's incumbency of office, though
he does not say so) has been a step in advance in the
right direction." “There must be vested in the
Federal Government a full power of supervision and
control over the railways doing inter-State business;
a power in many respects analogous to and as com¬
plete as that the Government exercises over the na¬
tional banks." “The movement to regulate railways
by law has come to stay. The people of this coun¬
try have made up their minds—and wisely made up
their minds—to exercise a closer control over all kinds
of public service corporations, including railways."
“We ask the consent of no man in carrying out this
policy, but we gladly welcome the aid of every man in
perfecting the law in its details and in securing its enact¬
ment and the faithful observance of its wise provisions."
There are many very assuring statements in the
speech, such as the remark “We would be the first to
protest against any form of confiscation of property,"
“Every Federal law," we are
feared.
and “We wish to make it to the
interest of the investor
put his money into the honest development of the
railroads." But all these are subject to the qualifica¬
to
already mentioned. What is the President's
attitude on the all-important subject of a valuation of
the roads? Until that question is settled no securityholder in any given property can know where he stands;
and so long as there is uncertainty as to the valuation
the Government is to put on a road, any return of con¬
fidence is clearly beyond the realm of probability.
As
on all other points, Mr. Roosevelt begins in a very con¬
vincing fashion, saying: “There has been much wild
talk as to the extent of the over-capitalization of our
railroads." He also takes occasion to state that “the
tions
railroads
Census reports on the commercial value of the
of the country, together with the reports made
the Inter-State Commerce
on
their cost of
to
Commission by the railroads
construction, tend to. show that,
whole, the railroad property of the country is
worth as much as the securities representing it"—
which is reassuring as far as it goes.
There is
as
a
added the
tistics
of
further statement that
the
weaker
roads,
“when the sta¬
the over-capitalized
combined with those of the stronger roads,
in my judgment
they will not be found to impair the wholesome finan¬
cial standing and position of the railroads as a whole."
This is also very good as far as it goes.
But who is to
know whether he holds a stock or bond in a weak and
over-capitalized road or in one of the other kind?
Heretofore market values have determined that fact,
roads,
and
are
considered in the aggregate,
June
Government dictum is to settle the matter
and in the meantime every one will be at sea.
Mr. Roosevelt declares emphatically for Govern¬
ment valuation.
He says: “Ample provision should
but
now
the Inter-State Com¬
of a sufficient
force of experts, to undertake the physical valuation
of each and any road in the country, whenever and so
soon as in the opinion of the Commission such a valua¬
tion of any road would be of value to the Commission
in its work.”
He admits that “physical valuation is
no panacea.” and that “the physical valuation can
never be more than one of many elements to be con¬
sidered; but it is one element, and at times may be a
very important element.”
The effect of such valua¬
tion and supervision of securities is not to be retro¬
active, but “the public interest requires guaranty
against improper multiplication of securities in the
future.” Over-capitalization, we are told, “always
conceals the true relation of the profit earned to the
capital invested, creating a burden of interest pay¬
ments which may redound to the loss alike of the wageearner and the general public which is concerned in the
rales paid by shippers.”
The words which we have
here put in italics explain why a contemplated valua¬
tion is proving so disturbing.
It is felt that the pur¬
pose is not merely to show whether or not there is
be made
merce
1271
THE CHRONICLE
11007.]
is
of
a
possible modification of the
pursued than in the many
assuring statements and remarks scattered
harmful policy
out the
by Congress to enable
Commission, by the employment
greater promise
palpably
through¬
address.
Rumors have from
time to time been current
that
Secretary Cortelyou would, shortly after the first of
June, withdraw the 30 million dollars placed in deposi¬
tary banks by ex-Secretary Shaw on the occasion of
stringency last September. The idea
suggested that this fund would be transferred
to the Sub-Treasury early in June preparatory to its
use in redeeming the 4s of 1907 due July
1. This
proposal has seemed to indicate a very unnecessary
interference with the smooth running of our money
market at the most critical period of the year.
It
would include the withdrawal of 30 millions of dollars
(or a considerable part thereof) out of the depositary
banks into Treasury vaults, to be locked up there and
kept out of the money market until after the opening
of the new fiscal year.
This course, it has been stated,
was required, the claim being that no statute exists
authorizing the withdrawal of the 30-million-dollar
,
deposit from depositaries directly to each bondholder
in payment of his bond.
That, we understand, is the
ruling of Secretary Cortelyou, who is, very properly,
not inclined to overstep his authority in the construc¬
tion of his powers.
All the statutes we can find direct¬
more or less water in the capitalization in any given
ing the withdrawal of Government funds in depositary
case, but that figures of valuation are desired as a plea
banks are the following:
or a justification for cutting down rates.
Section 3593. All public moneys paid into any de¬
The President well says: “It is all-essential that
positary shall be subject to the draft of the Treasurer
they (the people) should not lose their heads and get of the United States, drawn agreeably to appropria¬
drawn into an indiscriminate raid upon all corpora¬ tions made by law.
Section 3640. The Secretary, of the Treasury may,
tions, all people of wealth, whether they do well or ill.”
Furthermore, that “if the demand for more taxes, for except as provided in the next section, transfer the
moneys in the hands of any depositary of public
higher wages, for shorter hours for employees and for moneys to the Treasury of the United States to the
lower rates become so excessive as to prevent ample credit of the Treasurer; and he may transfer moneys
and speedy transportatiqn and to eat up the legitimate in the hands of one depositary to any other depositary,
as the safety of the public moneys and the convenience
profits; if popular and legislative movements take a
of the public service shall seem to him to require.
shape so ill-directed as not only to threaten honest
Section 3644. All moneys paid into the Treasury of
investments and honest enterprises, but also to prevent
the United States shall be subject to the draft of the
And for the purpose of payments on the
any effort for the betterment of transportation facili¬ Treasurer.
ties, it then becomes out of the question to secure the public account the Treasurer is authorized to draw
necessary investment of capital in order to bring about upon any of the depositaries as he may think most
conducive to the public interest and to the convenience
an improved service.”
This is gospel truth, and we of the public creditors. Each depositary so drawn upon
are glad that the President has seen fit to make public
shall make returns to the Treasury and Post-Office
declaration of the fact. But on further examination departments of all moneys received and paid by him , at
it appears that this is simply part of a plea for more such times and in such forms as shall be directed by the
power, and to disarm criticism in that regard.
For Secretary of the Treasury or the Postmaster-General.
Of the foregoing, Section 3644 (the second sentence
the paragraph quoted is immediately succeeded by
the following statement: “Rates should not be unduly in it) seems to be the only provision which would
come
near fitting
the needs of this occasion. It
high; there should be a thorough safeguarding against
accidents; there should be no improper shirking of reads, as/will be seen, “and for the purpose of pay¬
ments on the public account the Treasurer is authorized
taxes; the shippers of the country must be supplied
generously with cars and all other equipments neces¬ to draw upon any of the depositaries as he may think
most conducive to the public interest and to the con¬
sary to properly care for our commerce, and all this
venience of the public creditors.”
means that the National Government must be given full
United States Treasurer Treat, in his excellent ad¬
and effective power of supervision and control.”
Thus we are brought right back to where we started, dress before the convention of the Missouri State
and see that though the words are softer and smoother, bankers, held in Kansas City the latter part of May,
the purpose remains the same. This much, however, stated that it has not been the practice of the
Government to draw drafts or warrants on deposi¬
we think we are justified in saying: the elaborate at¬
taries located in Sub-Treasury cities. They have
tempt made by Mr. Roosevelt to dispel fears is an
indication that he is slowly awakening to the dangers been allowed to retain Government deposits under
The Aldrich
of the situation, and may sooner or later become im¬ guaranty of bonds for safe-keeping.
bill makes no change in this practice.
pressed with the fact that persistence in the present
course
portends disaster.
the monetary
has been
In that circumstance there
&
York was the
scene of disturbance greater than that which marked
the acute crisis in March.
Abroad the unsettling
situation was also a present fact; the latter was the
result of the discount of American obligations and
consequent credit expansion and tension, which con¬
At the
(VOL. LXXXIV.
THE CHBONICLE
1272
beginning of this week New
River has been a
strike-breaker
on
the East Side,and
And that is not a strange or unusual
situation when it is remembered or understood that
vice
versa.
the
highest paid class of unskilled workmen in the country.
With a wage scale of 30 cents per hour for day work
and 45 cents for nights, holidays and overtime, the
tributed to such a strain on banking resources as to
sober and industrious man can and does make a good
compel liquidation and efforts by bankers to resort
to more conservative methods.
At home, as herein¬ income.
The present strike began in a small way on Friday,
above stated, confidence in security values had been
well-nigh destroyed through aggressive Federal and May 3, and quickly spread until most of the steamship
lines were involved.
The first men went out without
State legislation and by the inquisitory policies of the
various departments of the Government.
There filing any general bill of complaint or making any
seemed to be no prospect of an abatement of efforts specific demands, but subsequently an increase in
wages of one-third (to 40 and 60 cents respectively)
on the part of the administrators of the newly enacted
was named as the basis upon which the men would
laws to attack constructive enterprises wherever they
return to work.
This the various companies main¬
could be brought within the control of the Govern¬
tained it was impossible to accede to, and they also
ment’s prosecuting agencies.
New
York
longshoremen probably constitute
unsettled and the period of claimed that the state of the freight market made it
restoration uncertain, it needed but a comparatively impossible to even consider any compromise. That
the movement of ocean-bound freight has been seri¬
slight impulse to precipitate an acute situation. In the
ously hampered has been apparent, but gradually the
previous week selling of securities by Paris in London
situation has improved until now many of the com¬
and by British and French bankers in New York—
such operations by the former being for the purpose panies assert they have a normal force at work.
of reinforcing, with the proceeds of these sales, the Fortunately there has been little resort to violence,
but the precautions taken by the management of the
gold reserves of the Bank of France, and by the latter
various lines probably explains this.
The leaders of
with the view of attracting the metal from this centre
this strike practically confessed impending defeat last
with the object of augmenting the Bank of England
stocks of gold—had indicated the existence of much week, when they appealed to the Commissioner of
stress abroad.
The prospect of a serious shortage in Immigration in the matter of crews of vessels unloading
and stowing cargo.
But even here they received small
our wheat crop and possibly of almost irreparable
comfort, the decision of the Commissioner being to the
injury thereto, together with the depression in our securi¬
effect that each ship wras within its rights in using its
ties as the result of discouraging and apparently
own crewr to do the work.
With the failure of this
irremediable impairment of revenues of industrial
move to force such a construction of the Federal law
enterprises, made our market peculiarly sensitive to
as would assist in hampering the companies, the strike
adverse influences.
has practically come to an end.
The most potent of these influences was the disquieting
decline in the London market on Monday, the direct
Aside from the longshoremen’s strike, there are not
cause for which seemed to be the insistent demand by
French bankers for the South African gold which was now, nor have there been recently, any labor troubles
of importance.
In accordance with an agreement
offered in the London bullion market on that day, and
entered
into
between
the Consolidated Steamship
also the later withdrawals from the Bank of England
Lines (comprising the Ward, Mallory, Clyde, Metro¬
of an amount of the metal nearly equal to that which
had been bought after successful competitive bidding politan and New York & Porto Rico lines) and the
American Association of Masters, Mates and Pilots,
against the Bank. The fall in British consols to
the officers of the various vessels of the lines have been
almost unprecedentedly low figures was an event
accorded the increase in wages for which they carried
which could scarcely fail to have a greatly disquieting
on a
two-days’ strike. Danger of a ,tie-up of the
effect, and it is not surprising that Lord Rothschild
had his confidence in the future of the situation rudely Washington & Potomac Steamboat Company’s vessels
was -averted on Tuesday by acceding to the request of
shaken.
The successful competition of French bankers
the engineers for more pay. The advances in wages
with the Bank of England which prevented that institu¬
tion from obtaining any of the Cape gold, was, though, granted to operatives in cotton mills at Fall River and
New England have virtually removed all
much more disturbing, because it seemed to indicate elsewhere in
cause
for discontent in that important industry,
either a well-concealed purpose of France to dominate
the financial markets of Europe, perhaps to the in jury of although the situation is a little strained at Lowell.
It is reported from Chicago that before the end of
Great Britain, or possibly of a knowledge of conditions
With confidence thus
which, if they should become acute, would the summer more than 200,000 unorganized laborers
and clerks on Western railroads will have been granted
make necessary the adoption of most effective pre¬
voluntary increases in wages averaging 10%, and that
cautionary measures.
some of the roads have already completed their new
in Russia
the wane. A prominent schedules.
instance is the longshoremen’s strike, probably as illA fair illustration of the drift of State legislation is
In any
advised a move as labor ever inaugur iced.
Governor Hughes’s Utilities bill which was sent back
strike, no matter how just the cause, conesion is essen¬
tial to success, and its absence has been a conspicuous disapproved by the Majmr on Tuesday; present indi¬
cations are clear that the Mayor’s action will have no
defect in this case. A feature of labrr troubles along
effect in checking re-passage, and that it will be rushed
shore has invariably been that the striker on the North
Strikes
seem
just now
on
Jxjne 1
1907.]
through the Legislature early next week. It has not
been called for, except by Governor Hughes, who seems
to desire it for the sake of the great power it bestows on
himself and because it is an advanced step in line with
associated capital.
It is hard to characterize
in a few’ words a
bill which proposes to take from many thousands of
private owners the substantial control of their own
property and commit it to the unguaranteed wisdom
and uncovenanted mercies of a Commission created
by the usual political methods. This prospect is
enough of itself to startle the public into serious
thinking. It certainly wTould give the public a start
of breathless surprise had not the effect been dis¬
counted by a gradual and prolonged course of aggres¬
sive legislation, proceeding step by step like a rising
tide; nay, such a measure, almost beyond precedent
in the sweep and the lack of responsibility in the
powTers it proposes, and creating a political machine
the like of w-hich has not yet been knowm, would never
have been brought up had not the w7ay been prepared
the current movement upon
for it.
1273
THE CHRONICLE.
Judges are but human, and they may
weary of having too much protective work thrown
upon them.
able
living.
There
wTas no
change in official rates of
discount by
of the European banks this w’eek; compared with
week, unofficial, or open market, rates were, at
the close, % of 1% lower at London and at Parisr
and steady at Berlin and Frankfort.
One feature
of the foreign situation was a somewhat disturbing
fall in securities at London on Monday, when
British consols sold at 84%, said to be the
lowest, for the second time this 3rear, since 1848,
when they wTere 80.
The immediate cause for the de¬
cline in British funds appeared to be the procurement
by French bankers of $750,000 out of the $5,000,000
South African gold that w7as offered on Monday,
through outbidding of the Bank for the metal, and the
subsequent withdrawal, by these bankers, of $655,000
from the Bank; nearly all of the remainder of the Cape
gold wras secured by the India Council, which had it
set apart in the Bank.
The London securities market
was at the time quite sensitive to unfavorable influ¬
ences, because of rumors of impending failures at the
settlement, and w’hen it was seen that the demands of
French bankers for gold had become even more urgent
than before, general liquidation was precipitated,
which wras accelerated later bv the suspension of a
stock-jobbing house and by expectations of further
failures.
The Paris market grew heavy as the result
of the derangement in London, and Berlin was also
affected thereby. Lord Rothschild, wiien interviewed,
any
last
waiving this for the present, the
bill challenges attention because of the absolutely un¬
limited expenditure which it authorizes. The salaries
of the Commission members are fixed, but all else is
left as wide open as language could make it.
The Com¬
missions may hire any number of assistants they
please, in any capacity,and pay them any compensa¬
tion; neither details nor total is limited. The State
disburser is required to pay the bills in one of the
districts created, and the city disburser is required to
do the same in the other district, and not merely that, expressed the opinion that the chief influences con¬
but to issue and sell revenue bonds for providing the tributing to the generally depressed situation in Europe
were President Roosevelt’s attacks on the railroads
money.
Revenue bonds are themselves a bad piece
in America, the income tax problem in France and the
of financing, for which the best available excuse is
Socialist movement in England.
He said that he could
that, having gotten into this particular spendthrift
see no present prospect of improvement.
There w7as a
habit, it is difficult to get out of it; but, aside from
recovery on the London market on the following day,
that, here is a measure which openly commits the
due to the absence of disturbing influences , and also to
State, as a whole, and the city as the chief part of it,
the fact that the French demand for gold had appar¬
and also on its own part, to obligations without limit
ently been diverted from London to New7 York. Dis¬
or foresight.
counts were, however, held firm, and, probably as an
Consider wThat this involves, and the condition of
additional measure of protection against withdrawals
things in which such an indefinite undertaking is per¬
of gold from London the price of the metal, which had
mitted.
The State Constitution forbids creating any
been advanced on the previous day to 77 shillings 10%
permanent “debt” without submission to the popular
Is this unlimited indebtedness such a “debt,” or; pence per ounce, as the result of competitive bidding,
vote.
was maintained until Friday w7hen there was a reces¬
can we plunge into an unknown sea of expenditure un¬
sion of Ys of a penny.
After Tuesday, the situation
der a political Commission merely because the obligation
in the Fluropean markets gradually grew more normal.
Whether
is not to be cast in the form of a time bond?
The feature of the statement of the New York As¬
the Legislature can delegate powder to bind taxpayers in
sociated Banks last week was an unexpected large in¬
such a loose manner, not to mention such power over
crease in surplus reserve by $4,216,200,to$15,688,875.
private property as seems to be equivalent to taking
This was almost wholly due to a gain of $5,851,100 in
it without compensation, is a question for the courts.
cash, the reserve requirements, caused by an increase
Yet, it is quite time wTe took note of the fact that it is
of $6,539,600 in deposits, being but $1,634,900; loans
unsafe to rely implicitly upon the courts to save us
wTere
augmented $1,580,800. The bank statement
from the consequences of our owm remissness or folly.
of this wreek should reflect, among other items, the with¬
It is not within the province of courts to overthrow
drawal of $3,310,434 gold for export to Paris and of
statutes merely because they are foolish or even be¬
cause they involve injustice.
The people are sover¬ $500,000 for shipment to Canada.
It may be noted that refunding operations, which
eign and must be deemed bound by the acts of their
chosen agents within the delegated authority.
If the began April 2, have thus far resulted in the exchange
of $49,958,100 4s of 1907 for 2% consols.
Redemp¬
tendency to overstrain the organic law7 written in
tions of the 4% bonds and purchases thereof, under
constitutions is very marked on the one hand, wre must
the circulars of Dec. 10, Feb. 11 and March 14, have
not expect that the courts, on the other hand, will
been $25,159,600.
There remain only $41,900 of the
overstrain that organic law in order to head off viola¬
4s to be refunded, out of the $50,000,000 set apart for
tions of the spirit of it and the clear dictate of reason¬
However,
that purpose, while the redemptions of the $25)000,000
4s called for surrender appear to be completed.
It is
noteworthy that expectations of derangement to the
money market as the result of exports of gold to Eu¬
rope were not realized.
The withdrawal of $3,310,434
of the metal this week for shipment to Paris did not
have even a sentimental effect upon the market for
money, day-to-day loans being no higher than 234%,
with a minimum of 134% and an average of 124%*
Loans for short fixed periods were not in request, and
though those for longer maturities were fairly firm,
there appeared to be only a light demand therefor. The
offerings of call money were abundant, largely because
of liquidations of speculative accounts, which were
quite general on Monday, when there was a sharp and
highly unsettling decline in security values. One fac¬
tor contributing to low rates was the accumulation in
the banks of funds of trust companies, these institu¬
tions being unable to obtain, through loans, as good
rates as those paid by the banks on their balances;
consequently such balances, together with those of
the banks, were pressed upon the market for employ¬
ment, generally at minimum rates. With an unset¬
tled tone for securities outside trading was not encour-,
aged; hence commission houses had no use for their
balances and they were in active competition as lenders
with the banks, thus augmenting the supply.
In view
of the fact that by July 1 the Treasury will begin to dis¬
burse about 42 millions for the 4s of 1907, those who had
for money preferred to procure it on call rather than
for short fixed periods; traders who desired to make
use
provision for longer maturities were unwilling to pay
the rates for loans on collateral, and lenders were in¬
disposed to make concessions because they could secure
as satisfactory, if not better, rates on corporation notes.
Money
on
call, representing
bankers’ * balances,
loaned at the Stock Exchange during the
and at
week at 234%
134%, averaging 1%%; banks quoted 134% as
not in the
the minimum, but trust companies were
market.
On Monday and on Wednesday
loans were
at 2% and at 134% with the bulk of the business at
1%%; on Tuesday transactions were at 2% and at
134% with the majority at 124%- On Friday loans
were at 234% and at 1^4% with the bulk of the business
at 1 J4%.
Time loans on good mixed Stock Exchange
collateral were 234@3% for thirty, 334% f°r sixty and
324@4% for ninety days, 4% for four, 434% for five
and 424%. for six months and 534 @534% for over-theCommercial paper was quiet at 5@534% for
year.
sixty to ninety day endorsed bills receivable, o@5J4%
for prime and 534%; for good four to six months1 single
names.
England rate of discount remains un¬
changed at 4%. The cable reports discounts of sixty
to ninety day bank bills
in London 324%- The
open market rate at Paris is 334% and at Berlin and
Frankfort it is 424%. According to our special cable
from London, the Bank of England gained £95,383
bullion during the week and held £35,237,110 at the
close of the week. Our correspondent further advises
us that the loss was due to large receipts bom the in¬
terior of Great Britain. The details of th ; movement
into and out of the Bank were as follows: Imports,
£216,000 (of which £13,000 from Australia and
£203,000 bought in the open market); exports,
The Bank of
[VOL. LXXXIV.
THE CHRONICLE.
1274
£733,000 (of which £377,000 to Paris, £200,000
to Singapore, £100,000 to South Africa and £56,000
to Java), and receipts of £612,000 net from the interior
of,Great Britain.
foreign exchange market was generally strong
week, influenced by a good demand to remit for
stocks sold for European account and also by a
The
this
supply of bankers’ and commodity bills.
Speculators took advantage early in the week of the
pendency of gold exports,as indicated by the decline
in Paris checks on London, and also by reports of
negotiations for the shipment of the metal in consider¬
able amounts to Paris as an arbitration operation.
moderate
Speculative manipulation contributed to the main¬
tenance of firm rates for short and cables on Saturday
of last week, and likewise on Monday,until it was
of gold for Tuesday’s
small, and therefore that the immediate
demands for export had been satisfied.
Then specu¬
lators sold somewhat confidently, induced, apparently,
by the expectation that no more gold would be shipped
this week and that it was probable that Secretary
Cortelyou would intervene,through calls for public
deposits, to obstruct further exports. One feature,
however, was the quite firm tone for francs at the goldexport point, indicating direct shipments hence to
Paris.
In view of the possibility of such movement
speculative operations were more cautiously conducted,
seen
that
the engagements
steamer was
demand for remittance to
for stocks sold abroad, sterling rates recovered
and, owing to an increased
pay
and the market was strong
thereafter, though long
exceptionally low because of dearer London
discounts.
The statement that Monday’s engagement
of gold for-shipment to Paris was facilitated by the
allowance of interest on the consignment while it was
in transit
indicated some urgency for gold in the
French capital and it seemed to concentrate attention
upon cable drafts, both sterling and francs, and also
upon the fluctuations in checks at Paris on London.
Inasmuch as the latter rose on Tuesday, it was regarded
as probable that gold shipments had been arrested.
O11 Wednesday, however, though exchange at Paris
on the British capital was unchanged, the engagement
of $2,000,000 more gold was announced for shipment
on Thursday, and it was then stated that arrangements
for such export had been effected early in the week.
The market was quite firm on Wednesday, closing at
the highest for long and for cables.
It may be noted
that, owing to the absence of Secretary Cortelyou at
Canton, Ohio, no action, if any was contemplated,
was taken in the matter of recalls of public deposits
from the banks, with the object of influencing exchange
through dearer money. The fact that the'gold exports
did not have any effect upon the money market will,
it is thought probable, induce the Secretary to refrain
from intervention through withdrawals of Government
deposits.
The gold which has been shipped to Paris this week
is the first considerable amount that has been sent
abroad since June 2 1905.
Exporters this week were
Goldman, Sachs <fe Co., who forwarded $787,354 on
Tuesday; Lazard Freree, who sent about $1,000,000;
Heidelbach, Ickelheimer & Co., $500,000, and the
Russo-Chinese Bank, $500,000; an engagement by the
first-named shipper on Friday of $500,000 for export
to-day (Saturday) makes a total for the week of $3,bills
were
June l
310,434.
at a very
1275
THE CHRONICLE
1907.]
May 31 1900.
May 30 1907
It is stated that the exports were effected
small profit, but the employment of cables
Bank o/
Silver.
Gold.
£
procurement of reimbursement insured
the shippers against the possibility of loss on the trans¬
action, while the co-operation of the consignee in Paris
of the gold with the exporters resulted in a saving to
the latter of commissions and of other incidental items,
as well as of interest on the consignments while they
were in transit
Further exports will depend upon the
factors of checks at Paris on London, the rate for
exchange at New York on the British capital, the
for the prompt
England..! 35 .237.110
105 ,964,857
Germany a 36 ,930.000
Russia d..116 .071,000
Aus.-Hunb 45 ,644,000
,499,000
Spain
,319,000
Italy
,329.800
Neth’lands
,254,000
Nat.Belg.a
France
Sweden
,145,000!
..
Total.
Silver.
Gold.
Total.
i
£
£
35,237 110 33 ,672,322i
39,553 ,199 145,518 056 117 ,647,079!
12,310 ,000 49,240 ,000 37 ,934,000,
6,295 .000 122,366 ,000 94 ,741,000
12,732 ,000 58,376 .000 46 ,650,000,
25,528 000 41,027 .000 15 .134,000,
4.947 400 37.266 ,400 28 ,575,000!
,522,400
5,599 ,200 10,929 .000,
.234.667
4,881 ,000
1,627 ,000
4,145 ,000
,881,000
_
...
J
42,531 ,350
12,645 ,000
5.572 ,000
12,874 ,000
24,452 ,000
3,963 ,400
5,770 .800
1.617 333
week400,393.76M08.591,799 508,9S5.566386,991,468109,425,SS3
Tot.
Tot.
£
33 ,672,322
,178,429
160
50 ,579,000
100 ,313.000
59 .524.000
39 ,586,000
32 .538.400
11 ,293,200
.852,000
.881.000
496,417,351
prev.397,540,8011107.353.727504,894,527,382,253,589109.802,126j492.055,715
.
of the French demand for the gold and the
willingness of exporters to participate in the move¬
urgency
ment.
quotations for sterling exchange are
4 S4% for sixty day and 4 87% for sight.
On Satur¬
day of last week the market was strong at an advance,
compared with the previous day , of 10 points for long
to 4 8365@4 8375, of 5 points for short to 4 8680@
4 8685 and of 10 points for cables to 4 8725@4 8730.
On Monday long fell 25 points to 4 8345@4 8350, short
10 points to 4 8670@4 8675 and cables 5 points to
4 8720@4 8725.
On Tuesday long declined 5 points
to 4 8340@4 8345, short advanced 5 points to 4 8675(a
4 8680 and cables 5 points to 4 8725@4 8730.
On
Wednesday long rose 30 points to 4 S365@4 8375,
short 5 points to 4 8675@4 8685 and cables 10 points
to 4 87300 4 8740.
Thursday was a holiday , and on
Friday’the market was firm for long at an advance of
5 points,"while cables fell 5 points and short was un¬
changed.
The following shows daily posted rates for sterlingexchange by some of the leading drawers:
Nominal
Thurs.,
UVd..
Tucs.,
Mon.,
Fri.,
May 24 May 27 May 28 May 29 May 30
Brown
Bros. &
Co
Raring
A Co
Bank British
North America
Bank of
-
-
6U days 4
Sight.. 4
60 days 4
; Sight.. 4
60 days 4
4
S iirht
60 days 4
: Sight.. 4
60 days 4
_
_
84 * 2
87 Vj. '
84 Cj
871 j
841 a
87 >2
84* 2
841 4
873
841
2
8712
Montreal
84 *2
Canadian
Bank of Commerce. .Sight.. 4 87‘-‘j
60 days 4 84 1 4
Iloidelbach, Ickelsight.. 4 87 > 2
heimor & Co..
•00 days 4 84 1 4
Lazard
'Sight.. 4 87 3-2
Freres
00 days 4 84'4
Merchants’ Bank 7;
Sight.. 4 87 >2
of Canada
843-a
873-2
84 IS
84 >2
87 *-2
84 3 j
87*2
8712
87 * 2
84 12
87 * 4
84 * 2
87 h
84*4
St *2
84*4
84 * 4
84*4
87 U
87 3-2
841-2
87*2
84*2
8< 1J
84 *t>
84*4
87 1 2
841 2
87* >
:
j!
II
O
Jj
I
1)
Frt.,
June
1
aThe division (between gold and silver) given in our taDle ot com and oullion
in the Bank of Germany and the Bank of Belgium is made from the best estimate
we are able to obtain; in neither case is it claimed to be accurate, as those banks
make no distinction in their weekly returns, merely reporting the total gold and
silver; but we believe the division we make is a close approximation.
b The Austro-Hungarian Bank Statement is now issued in Kronen and Heller
instead of Gulden and Kreutzer.
The reduction of the former currency to sterling
Pounds was by considering the Gulden to have the value of 80 cents.
As the Kronen
has really no greater value than 20 cents, our cable correspondent in London, in
order to reduce Kronen to Pounds, has altered the basis of conversion by dividing
the amount of Kronen by 24 instead of 20.
d The total of gold in the Bank of Russia includes the balance held abroad—
that is, the amount held for Russian account in other Continental banks.
The
proportion so held and consequently duplicated in the above statement is about
one-quarter of the total.
OUR TRADE CONTROVERSY WITH GERMANY.
By
of
reason
of certain
position of considerable interest. During a more or
less prolonged period negotiations of one sort and
another have been going on between our own and the
German state departments, looking toward more
liberal regulation of the customs tariff on our mutual
The matter
trade.
overwhelming legislation. The result was very slight.
Nothing deserving the name of reciprocity was effected ,
by legislative vote or administrative order. A few of
vexatious arrangements at our port were
modified, or else reasonable possibility of their modi¬
the
more
fication
barrier
was
was
offered;
on one
kind of German wine the
substantially let down.
be said that any response
efforts of Germany to come
84 *4
understanding.
S73«j
84*2
considered in the last session
was brought before the President
for such executive action as might be possible without
not
84 34
was
Congress, and
of
84*2
873-2
84*2
873;j
8732
recent events the question
Germany is coming into
very
trade relations with
our
Otherwise it could
had been made to the
to a more beneficial
The matter calls for discussion
now
because the
reception of the meagre concessions by the German
Legislature plainly mark dissatisfaction and discon¬
84 *
84 *4
84*2 !
87*4
87*
87*2 I
tent.
Both in the German newspapers and on the
84 >o
84 v2
*2
84*2 i
87*-2
87*2
8734
87*2 I
floor
of
the Reichstag it has been intimated this past
j
week or two, while the provisional tariff agreement
The market closed on Friday at 4 8370@4 8380 for
with the United States was being accepted, that
long, 4 S675@4|8685 for short and 4 8725@4 8735 Germany was not satisfied,and that the United States
for cables.
Commercial on banks 4 8335@4 8345 and
might find reason to regret the absence of more liberal
documents for payment 4 82%@4 83%.
Cotton for action. To this intimation, however, certain German
payment 4 82%@4 82%, cotton for' acceptance statesmen have made answer that even if Germany
4 8335@4 8345 and grain for payment 4 83%@4 83%.
has made no progress in reciprocity with the United
States it must in its own interest be very slow to con¬
sider retaliation. These speeches took into plain ac¬
The following gives the week’s movement of money
count the fact that even under our stringent tariff
to and from the interior by the New York banks.
we were one of the German manufacturers’ best cus¬
Week ending May
Currency
Gold
31 1907.
legaftendcrs
With Sub-Treasury
result is
A
Y
87*2
84 1..
873-2
87*2
2
2
87 3 2
84 * 4
.
84
I
Received by
Shipped by
Net Interior
X. V. Banks
.V. Y. Banks
Movement.
$S,262,001
$4,701,001
1,134,001
Gain
Loss
$3,561,000
678,001
$8,940,001
S5.S35.00l
Gain
$3.105.000
456,000
operations and gold exports the
31 1907.
Banks’ interior movement ,'as’above.
Sub-TTcas. operations A gold exports
Total gold
the
|
asjfollows:
Week ending May
in
87*2
!
-
Total gold and
The
87 3 2
84 3-2
and legal tenders
Into
Banks.
$8,940,000
21,600,000
$30,540,000
-
Out of
Banks.
|
!
Net Change in
Bank Holdings.
$5.S35.0001Gain
$3.105.000
22.600.000 j LOSS
1,000.000
$28,435.000jGain $2,105,000
followingjtable indicates the amount of bullion
principal'Furopean banks.
from Germany would
possible trade war than
tomers, and that the exporters
be
seriously hurt by a
importers and consumers of the United States.
more
the
That this
was a
correct
view of the situation,
even
regard to the ethics of trade discrimination,
be no question. Our imports from Germany
are principally manufactured goods, which at a pinch
we could probably obtain from other countries without
great inconvenience. On the other hand, Germany’s
imports from us consist to a very great extent of food¬
stuffs, which are imported simply because the German
Empire does not raise enough of the articles in ques¬
tion to feed its people. • In*1906£weJsenUto Germany
without
there
can
•
?
[VOL. LXXXIY.
THE CHRONICLE
1270
reasonable is the surest road to the fomenting of un¬
$5,271,000 worth of wheat, $2,392,000 worth of flour,
$9,758,000 worth of corn and upwards of $20,000,000 pleasant intrenational relations.
It would be venturesome to predict any action along
in such commodities as lard and similar products;
and to this may pertinently be added the $98,000,000 these lines by our Congress in the immediate future;
worth of cotton which, by our Government’s figures, there have, in fact, been indications, during the period
of business activity, that sentiment in American trade
we sent to Germany during the cotton year ending
circles and in American legislative circles was hostile
with last August.
It is nevertheless quite possible that
It will be seen at a glance that these are articles to any change.
with which Germany could not dispense except at this subject may before long be brought suddenly and
a heavy and possibly disastrous sacrifice to itself.
A vividly before our people. Two or three years ago
trade war, therefore, in the old-fashioned sense, be¬ there seemed to be reason for still larger inferences re¬
is improbable garding the future of international trade relations and
for the best of reasons.
Precisely the same fatal ob¬ for predicting a general reversion to extreme ideas on
the subject prevalent a century ago.
Mr. Chamber¬
jection to it exists as existed to the whimsical advice
of the Austrian Prime Minister in 1S97 thatr.in view lain’s campaign for protective duties in England marked
As every
of the “American invasion,” it was time for the the climax of this movement of reaction.
one knows, his undertaking fell.
Nothing could be
European nations to “stand shoulder to shoulder” in
more sure proof that the underlying sentiment of the
resisting the inroads of the intruder. Count, Goluchowski never troubled himself to explain who was to people has not radically changed on questions of this
do this “standing shoulder to shoulder.”
We imagine sort than the results of the recent conference of the Co¬
More than one of the dele¬
that pleasant duty could have been imposed on no lonial Premiers at London.
gates came with propositions of provincial duties,
one but the people of Europe who, if they had heeded
the advice from Vienna, would have supposably have through which, it was argued, England should encour¬
age the loyalty of its colonies.
They accomplished
gone without their daily bread in the European famine
absolutely nothing; yet they parted with very manifest
period in order to teach a lesson to America.
The London “Economist” sums up thus
But while all this is true, and while even Germans good feeling.
concisely
the
resultant
situation from England’s point
admit that the advantage of any controversy which
tween
Germany and the United States
arises must lie with the
United States, there are, in
of view:
“It is as much our interest to get foreign goods into
judgment, certain broader considerations which
our markets as it is the interest of the colonies to see
ought not to be overlooked. One of them, we hardly
our markets left dependent on what they can supply.
need say, lies in our wish to develop a foreign trade for
When two interests clash, each party necessarily pre¬
our own articles of manufacture.
It has never been fers its own. The last election showed that the greater
doubted that expansion of such trade follows along part of the English people are convinced that their
the lines of mutual international concession.
Our commercial prosperity depends on the maintenance of
free trade.
The colonies think us mistaken, and,
people learned four or five years ago that an enormous
thinking this, they have a right to try and convince us
export trade which may be facilitated without such that we are so. But the creation of that conviction is
relations during a period of foreign trade boom and a condition
precedent of any change in our fiscal policy,
abnormal consumption will have to depend on some¬ and until it is created it is best that this fact should be
thing else when financial reaction strikes the foreign brought home as dearly as possible to the colonial rep¬
consumer.
We learned this by the fall in our export resentatives.”
trade during Europe's trade reaction of 1900 and 1901.
We should have a much more serious lesson to learn if, WHAT IS AILING THE RAILROADS AND THE
our
at some
with
a
future time, our exporters were
STOCK MARKET?
confronted
genuine paralyzing trade collapse in the Euro¬
Now that the President
.
has taken occasion to define
concerning his policy towards the railroads,
consideration which the makers it becomes important to examine somewhat closely into
of tariff schedules have no right to ignore; it is the main¬ the reasons for the unsettled condition of the security
market.
With each succeeding week a lower depth is
tenance of good relations politically with other States.
The past decade has created several curious situations reached in the downward movement, and many per¬
between ourselves and Germany, which, while they sons—including some who keep reasonably well in¬
formed as to current events and happenings—cannot
at no time actually threatened impairment of good
feeling, nevertheless gave some idea of what might, understand why this should be so. Why do not
pean world.
There is a further
under conceivable circumstances,
The
be brought about.
point of this lies in the fact that in the present era
his views
investors, capitalists and moneyed classes generally
take advantage of the present state of affairs and
the legitimate interests of trade acquire stocks at what appear very much like bargainhave more influence to-day than perhaps any other counter prices?
The underlying cause is the same as it was at the
in creating or destroying good relations between gov¬
ernments.
No doubt, as some of our legislators assert, time of the collapse in March, the same, indeed, as
it has been for about a year and a half, during all of
we have in a tariff which may at the will of Congress
be relaxed a strong inducement to offer any foreign which period a shrinkage in values has been in prog¬
But ress. Owing to the assaults of those high in au¬
nation in return for concessions of its own to us.
it must be noticed that this very assertion recognizes thority and adverse legislation both by Congress and
the fact that to cultivate such relations on such lines the State legislatures, confidence is almost completely
gone.
No one is willing to buy at what appear like
we must be willing to break, to some extent, our tariff
wall.
Moreover, it follows necessarily that the con¬ ridiculously low prices because no one can tell what
the future may bring forth. Though the railroads
verse is true, and that arrogant persistence in a tariff
which a great foreign State regards as unfair and un¬ and public service corporations generally have already
of the world’s progress
June 1
THE
1907.J
suffered much, they are
1277
CHRONICLE.
still under fire, new attacks
them being made from day to day, and the
question which every investor, every moneyed man,
upon
have
for through additions to capital
Some of the Inter-State Commerce Com¬
been
account.
paid
missioners have in
the past frankly
declared against
that would leave
anything for improvements, and the Statistician has
what present always urged that the line between operating expenses
earnings and present dividends may be, the part of per se and improvement outlays should be sharply
Now the authority given by the Hepburn
drawn.
the problem which no one feels able to solve is what
Law is to be availed of to enforce this distinction and
earnings and dividends are going to be when all
attain that end.
the adverse factors which are piling up against the
Again we ask, what is the purpose? There is, of
carriers have had a chance to work out their full
course, no objection to showing just what is being
effect.
Unfortunately, too, each week sees new happenings put into the properties from year to year out of earn¬
and developments which accentuate the feeling of ings. Indeed, it would be in the highest degree de¬
sirable to have this information, for it would impart
doubt that so widely prevails. Take for illustration
to the investor just the knowledge he wants, apprising
simply some of the incidents of the last ten days. The
him that even if he is getting no dividends, at least
newspapers have kept informing us that the President
the property in which he holds an equity is being put
has by no means abandoned lift idea of having some
kind of a valuation of railroad properties.
He is still in better shape from year to year. But there is no
warrant for thinking that the modification of the
cogitating and pondering deeply over the subject, we
accounts has been made with any such intention.
are told. It should be observed, too, that in his Memo¬
That being the case, is it strange that the conclusion
rial Day speech on Thursday Mr. Roosevelt distinctly
should be drawn that this information, like the pro¬
reiterates his belief in the advisability of having a
valuation made. Of course, valuation of the roads posed valuation of railroad property, is wanted so as
to afford a pretext for still further diminishing the
can subtract nothing from their tonnage or their reve¬
already dwindling profits of the roads. And can in¬
nues, and the President takes pains to say that valu¬
vestors and security holders be blamed for thinking
ation is only “one of many elements to be considered.”
But the valuation is granted for a purpose.
What that hereafter the roads are to be held down to a
meagre return on the bare value of the property and
is that purpose? We must certainly absolve the au¬
that even improvement outlays are not to be allowed
thorities from any desire to prove that present rates
above such a return, even though such outlays are
and present profits are not adequate. There remains
clearly in the public interest. Then, also, there is
therefore, only the other alternative, namely that it
this week’s decision of the United States Supreme Court
might be possible to get a valuation so low as appar¬
upholding the Commission in refusing its sanction to
ently to warrant the assertion that even if legislative
an advance in lumber rates on some of the Southern
action and the orders of railroad commissions, State
roads. Is this calculated to allay fears in that regard?
and national, shall serve to make serious inroads upon
But the Federal power is not alone in acts of re¬
profits, as they are now doing, there will still be enough
pression. The States, taking their cue from the
profit left to admit of some “fair” return on the
National Government, have been indulging in very
assumed valuation thus arrived at.
extensive repressive legislation of their owfn. We re¬
The feeling of apprehension is being increased by
ferred last wreek to the Public Service Commission’s
the fact that action is being taken in other directions
Bill in this State—a remarkable and extraordinary
which fits in perfectly with the idea of limiting the
piece of legislation, which gives the Government bodies
returns of the railroads if the step should be thought
created by it a degree of authority over all public
advisable. The Statistician to the Inter-State Com¬
service concerns which wrould be absolutely incredible
merce Commission has just issued a circular advising
if the provisions and features wTere not unequivocally
the railroads as to the form and classification of revenue
and specifically set out in the Act. In an article to-day
and expense accounts they will be expected to follow
we also refer to what the neighboring State. Pennsyl¬
with the beginning of the new fiscal year on July 1
vania, has done in the same direction. And so we
1907.
In the instructions with reference to the treat¬
might take up one State after another. We have
ment of the expense accounts, there occurs the follow¬
space, however, to advert to only one other State,
ing admonitory remark: “It should be understood
There opposition to railroads is
namely Michigan.
that these operating expenses must not be burdened
particularly rife, though it would be hard to point to
with expenditures for additions, such as new and
another State wrhere the railroads have fared so badly
additional equipment, tracks, buildings, ballast and
in the matter of earning a return on the money in¬
'other additions to the property, the purposes of which
vested as in this very State of Michigan. Perhaps
are to improve the property operated.”
Our readers some one 'will extract hope and encouragement from
are aware that the railroads have been doing the very
the fact that the Lower House of the Michigan Legis¬
thing they are no longer to be allowed to do, that is,
lature last week killed a bill which wTould have limited
they have not distinguished sharply between mere
the passenger rates on electric suburban roads to X1/^
renewals and improvements and additions. Some of
cents per mile.
But that very action serves to reveal
them, indeed, instead of increasing the rate of return to
the spirit in which legislation is carried on. That the
the shareholders, have been making quite extensive
reader may understand the reasons for the defeat of
improvements and charging the cost to expenses, the
bill, wre re-print the following dispatch from the
the design being to fortify the properties against ad¬
“Grand Rapids Herald” of May 22d—a paper which
verse happenings and promote economy in operations.
has been one of the staunchest advocates of legislation
This policy, too, has been in the public interest, for
adverse to the railroads:
;
it utilized profits in doing work which must otherwise
thing to end? The
concerned, is
puts to himself is, Where is this
future, as far as these corporations are
clouded with great doubt. No matter
allowing the roads to charge rates
THE CHRONICLE.
1278
House handed
Representative Norton of St. Johns a sour lemon to¬
day when it refused to take a crack at the railroad
“Lansing, Mich., May 22.—The
committee at his request.
“Norton had a bill providing
that interurbans could
charge more than a cent and a half per mile.
Most of them charge that or less now, and the bill
being aimed principally at the road from St. Johns to
Lansing, which gets 50 cents for a 20-mile trip. The
committee killed the bill, holding it was not time to
begin hampering electric roads, their development not
not
yet having reached the stage the State wants.”
It should be noted that the bill was killed because
Railroad Committee the time
had not vet arrived “to begin hampering electric roads,
their development not yet having reached the stage
the State wants.” In the case of the steam roads,
however, no such hesitancy apparently exists.
These
in the estimation of the
[VOL. LXXXIV.
the results for the remaining groups is
gain of $16,766,424 in gross attended by an augmen¬
tation of $26,963,781 in expenses, thus producing a
loss of $10,197,357 in the net.
This increase in ex¬
penses followed in very large part from the advances
in wages which the roads have been obliged to make,
and which hence will remain a continuing feature in
subsequent months. At just this stage the possibility
of a crop failure, always an important matter, looms
up in a rather disquieting way.
A crop shortage
alone, unattended by the other circumstances enumer¬
ated, would possess little potentiality for serious injury,
but the two combined furnish occasion for anxiety, if
this group out,
a
not alarm.
What, then, is the remedy? Some suggest that to
escape harm at the hands of the States we must seek
refuge in the arms of the Central Government. That
evidently have “reached the stage the State wants,”
and hence it is not proposed to miss an opportunity suggestion cannot lor a moment be entertained.
That would increase the danger, not lessen it.
What
to hamper them.
The Railroad Commission Bill now
is wanted is for the national authorities to call a halt
before tin* Legislature of Michigan would practically
in their course.
If they take off their hands the States
give the Commission charge of the operation of steam
will do likewise.
It is not out of point to note that the
roads in that State.
It would give it the power to
Michigan State Senate, which is so busy considering
prescribe the character and number of locomotives
and cars that shall be provided, to examine into the projects antagonistic to the railroads, on Monday
night passed a resolution asking President Roosevelt
freight and passenger train schedules and decide as to
to stand for re-election.
It is the policy pursued at
the number of trains the railroads shall run.
Further¬
Washington that is responsible for what is going on
more, Section 54 of this bill reads as follows: “The
in the States.
When the one ceases the other will
Commission may make all needful rules and regulations
cease.
The sensitive state of the public mind was well
concerning the number and efficiency of employees
illustrated on Wednesday when a rumor that Mr.
upon railroads and may prescribe tests to establish
Roosevelt's Decoration Day speech would be conserva¬
of such employees.” It should be
observed that this provision relates to the number of
the employees as well as their efficiency, and that it
applies to all employees of railroads.
Another bill introduced in the Michigan Legislature
rhe competency
improvement in values.
still employed that busi¬
ness remains prosperous.
But is it not idle to count on
its further continuance and further expansion in face
of what is happening?
Our mills and factories are
being kept busy on past orders, but new orders to
anywhere near the same amount in the future are out
of the question.
It is no longer possible for the
carriers to borrow money except at almost prohibitory
rates, while we are getting pretty plain hints from
Washington that they are not to be allowed to continue
making improvements out of earnings. Then where is
the money to come from?
If our legislators and poli¬
tive
Of
an immediate
the old argument is
produced
course
provides that every railroad in the State shall have a
policeman for each five miles of track, these policemen
to be appointed by the Governor and paid for by the
railroads,
it has been estimated that this would give
the Governor of the State the appointment of 2,000
policemen at the cost to the railroads of say $2,000,000
per annum.
Incidentally, it would scatter a couple of
thousand political workers over the State.
We have no idea that any such absurd proposition
ticians are not blind to their own interests, they will
ns this will find its way
to the statute books, and
abandon their present policy before it is too late, and
yet in these days the unexpected is all the time
thus avert a serious calamity.
In this sense Mr.
happening, and these proposals in Michigan are a
Roosevelt's Indianapolis speech may serve a good
sample of what is going on in nearly every State in the
Union.
Of course all this will re-act in the end on purpose, for there is in it a distinct recognition that
the policy of repression may be carried too far.
the States themselves.
Michigan, as is known, is
ambitious for a large system of interurban roads such
THE PROPOSED LIFE INSURANCE BY
as cover Ohio and Indiana, but obviously its course
SAVINGS BANKS.
with reference to the steam roads will not be of great
A bill to permit savings-banks to undertake Indus¬
assistance to the promoters of the electric roads when
trial Life insurance has been favorably considered by
they come to New York or Boston for tire money with the insurance committee
of the Massachusetts Legis¬
which to carry through such enterprises.
lature and will very probably go through.
There are
All this comes at a time when the railroads are
objections to it, but before stating those it may be of
making very unsatisfactory showings of net earnings.
service to many readers to explain distinctly the char¬
There is one exception to .the rule, namely the South¬
acter of the form of life insurance which bears the title
west, where, because of the phenomenal crops raised
of “Industrial."
last year, roads like the Atchison, the Rock Island, Ac.,
The old form, now known in insurance parlance as
are giving a very good account of themselves.
But the
“ordinary" for the sake of distinguishing it, is familiar.
situation that jconfronts the roads in other parts of
It is rarely written for less than $1,000, and the pre¬
the country is evident from the statement,of net earn¬
miums are payable annually, semi-annually, or quar¬
ings published by us last week for the three months
ending March 31. This showed a loss in net for every terly, the annual being always urged and always
one
of the groups except the Southwestern; leaving | preferable, because the more frequent payments come
June 1
127!)
THE CHRONICLE.
1907.]
higher and obviously involve greater likelihood higher ratio to the “expected” or tabular than under
the ordinary plan. The fact of relatively higher cost
of wastage by lapse.
This leaves out the great mass
is therefore unalterable as well as undesirable.
of wage-earners who can neither take large amounts
To decry and denounce the plan because of this
nor keep their small savings until the needed premium
is made up; for them, therefore, the usual form of life higher cost is useless and not helpful to those whom a
insurance does not exist.
The industrial form adapts misplaced philanthropy seeks to serve. They must
itself to them by using a house-to-house weekly col¬ pay a higher price for insurance as they do for their
lection, the unit of premium being the weekly nickel coal, or go without; this is under the same law
which applies to all purchases, and though we may de¬
or a few multiples thereof , the amount of insurance
being expressed as what can be purchased by the plore it, no statute can change it. So much for the
nickel or its multiples at the several ages. This alleged “exactions;” as for the “wastes,” the lapse
rate is admittedly large.
Remember that the question
amount is not large, and another feature of the plan is
of continuing, involving an actual self-denial for the
that it reaches almost from the cradle to advanced ages
and takes in entire families.
There is an intermediate, sake of a good that may seem doubtful, may come up
a
little
monthly collections and writing for somewhat
larger amounts, the design being to carry the insured
along from childhood to the larger policies under ordi¬
nary which adults may be able to assume, thus train¬
ing them into the habit of insurance. The industrial
plan adapts life insurance to the circumstances and
conditions of a large class.
This business has developed to an almost incredible
with
extent, one company
which also writes largely in
outstanding
millions of
policies, averaging only $149 each. It has not been
hinted that these companies are not strong, active,
successful, and able to handle all the business of this
kind which is likely to arise. Unthinking sentimental¬
ists have, however, again and again raised the cry, in
ordinary having now
well as here, that insurance of young
children is child-murder, and attempts have been
Great Britain as
made to have it
prohibited by law.
Such charges are
preposterous on their face and not a single case of mur¬
der for the sake of insurance has been made out; on the
week, although many pay for several weeks in
advance; that the class of persons is one somewhat
uncertain of employment, migratory in habits, and
naturally ready to catch up doubts and weary of selfdenial—remember this, and a large lapse rate ceases
every
to be
surprising.
If there
real foundation for the “Repub¬
of “the grinding of the faces of the
were any
lican’s” charge
that now goes on through industrial insurance,”
and especially if the persistent notion that companies
derive profits from lapse were sound, we should find
lapsing promoted. On the contrary, not only is
lapsing a direct personal loss to the agents, but the
companies make constant and earnest effort to prevent
it; there is nothing to which their labors go so strenu¬
ously. Moreover, if the poor do have their faces
ground they do not know it, notwithstanding the
teaching of the newspapers which they mostly read
that accumulated wealth is the enemy of the poor.
Inasmuch as the whole country seems to be affected
poor
inquiry on the subject has produced by an unreasoning hostility to wealth in whatever
form it appears, we should surely expect the wageproofs that insurance tends directly to conserve young
earning class to feel jealousy of corporations which
children.
dwell in palaces; yet the striking fact is that industrial
The present charge, which has been reiterated during
insurance persists much better than ordinary does,
the troubles of the past IS months, is summed up in
even now while life insurance generally, for perfectly
what the Springfield “Republican'’ calls “the scan¬
Take New Jer¬
dalous wastes and exactions of present methods.” If plain reasons, is not making progress.
sey and Connecticut as the test.
The two New Jersey
present methods contain needless and preventible
Industrials wrote, in New Jersey, 172,687 policies for
wastes and exactions, they ought to be deemed
“scandalous” and ought to be prevented. The sole $22,649,080 in 1906, against 179,514 for $22,790,505
in 1905; the business also held well, these companies
plea which is or can be put forward for the attempt to
graft industrial life insurance upon the savings banks gaining nearly 8J^ millions on business in force at
home.
In Connecticut all companies wrote, in ordi¬
is that such wastes and exactions exist, and that the
bank method can avoid them; if either of these proposi¬ nary, in 1906, 92.88% of the number of policies and
tions is not correct, the bank scheme has clearly 93.83% of the total amount written in 1905; in indus¬
trial, they wrote 93.97% in number and 97.44% in
nothing but imagination to rest upon.
amount of what they did in 1905.
So much for the
The industrial plan is costly—we mean relatively
evidence that the class who buy industrial have not
costly in that it furnishes less insurance per dollar paid
than the ordinary form does.
Entering a five-cent discovered what oppressions they are under. It
should further be said that very large concessions,
premium costs as much as one for $5,000; it costs more,
never stipulated for, have been voluntarily made by
for the small sum involves more clerical labor than the
large one does, and it must be repeated 52 times in the companies in recent years, and that a large proportion
of policies lapsed are afterwards renewed.
year.
To this must be added the cost of the weekly
We have gone over the above at some length, al¬
call, and the calls must often be more than one in case
of a single payment, in order to save the policy from though very cursorily , because the wrongs committed
lapse. The increased cost for this reason is obvious by industrial companies are the entire case of the
advocates of the bank proposition.
The cost of life
enough to anybody who stops to think, but there is
insurance is chiefly the mortality cost, that is, the cost
another reason which is liable to be overlooked: the
of insuring, and is not within the power of any scheme
mortality rate is higher under industrial. Ages which
or organization to lessen; the clerical part of the ex¬
are not the best, insurance-wise, are covered, and the
medical sifting is much less strict than under the ordi- pense in industrial also cannot be lessened, but the
dinary form, the risks on one life being smaller and the great reliance of the bank plan is that the people will
insure voluntarily and the agent can be omitted. The
entire aim different; the actual mortality bears a much
contrary, every
[VOL. LXXXIV
THE CHRONICLE.
1280
be done is the fact to consider; suffice it that the effect of an insurance
that it has not been done. Life insurance has been built attempt upon the banks themselves could hardly be
wdiolesome.
Bank officers realize this and do not
up by agents.
Any policyholder can put the test
think it desirable to undertake a specialty for which
question to himself whether he would now be one had
not an agent sought him and moved him.
In Great they are not equipped, and a majority of them in
Massachusetts have already expressed disapproval.
Britain, life insurance in such popular sense as we have
it does not exist.
For example, the “Old Equitable,” Since it is permissive and not mandatory, no con¬
with all the advantage of very heavy “bonuses” to the siderable action will probably be taken Under the bill;
few members (who are attracted to it by the great re¬ therefore it can do no particular harm if it goes through.
The amiable theorists who do not realize that what they
turns it makes on their money) is 143 years old and
last year wrote 262 policies.
Like other British com¬ need is a statute to change human nature have already
obtained a charter in Massachusetts for a Mutual
panies with hardly any exception unless among those
of recent founding, this one has never used agents, at Direct or over-the-counter company so that the ques¬
least openly and avowedly.
There is another illustra¬ tion whether life insurance will go of itself is in a way
tion nearer at hand.
In 1893 the Dominion Parlia¬ to be tested. Certainly nothing short of a trial will
ment established a special life insurance scheme for satisfy the clamor, and the chartering of this company
will meet the excuse that the .savings-bank scheme
employees of the civil service, in lieu of a superannua¬
best
reason
for thinking this cannot
,
which had not worked satisfactorily. The
policies were for SI,000 and S2.000 only, and did not
include endowment; on the other hand, much liberty
was granted in the forms of premium payment,The in¬
terest assumed in making the rates was the high one of
6%, and operating expenses were to be borne by the
Government,so that the rates of premium were un¬
usually low. The conditions were thus especially
favorable, and insurance could not conceivably be
The civil service list now in¬
made more attractive.
cludes about 6,000names, and when allowance is made
for changes since 1893 it may be assumed that at least
-10,000 persons have been eligible for this kindly-meant
provision, persons of at least fair intelligence and hav¬
ing inducements to thrift. But no provision was
made for agents and there have been none.
The re¬
sult is that after just 14 years of this scheme its best
business year was 1906, when 57 policies were written;
barely 205 policies in all have been written, and at the
end of last June there were in force 166 policies on 159
tion system
lives.
Still, there is
a
notion, especially active
of expression
might have succeeded but for the unprogressiveness
of bank trustees who feared the trial.
This benevolent sentimentalism does not know its
and is likely to harm rather than help those on
whose behalf it is troubling itself; yet the only course
to be taken with it is to allow it to proceed.
“Very
likely (says the ‘Republican’) the simpler and better
method would be to put the State directly into the
business under the direction of the existing Insurance
Department, and those who favor State insurance will
Cer¬
be doubtful and critical of the plan reported.”
tainly we do not favor insurance of any kind by the
State, yet we feel bound to say that the only logical
way
policy
is insuring directly by the State.
If this policy cannot
not be changed, and if the people, as represented by
legislatures which they at least make no attempt to
hold back, are not willing to put confidence in any
and natural outcome of
the present regulative
small number of themselves
and choose to go on re¬
stricting private trustees into mere automatons, then
a complete reliance upon the State is the consistent
course.
Confidence must be placed somewhere. If
really ready to imagine that human
nature in State officers selected in the usual political
Lowell has published an essay
which he declares that to do away with them is the one method will be superwise and superhonest, then the
State ought to be set to undertake the trusteeship to
great step in reform. The bill now in the Legislature
forbids employing solicitors or house-to-house collec¬ which plain men are no longer equal.
tors, and the theory is that wage-earners will do the
PENNSYLVANIA'S \TEW RAILROAD LA WS.
entire work themselves, except that depositories for
The-hostility to railroad interests in Pennsylvania
receiving applications and premiums are to be per¬
mitted.
Here we may remember that savings banks, which has found expression the present year in a num¬
themselves have to be placed within fairly convenient ber of legislative Acts is by many thought to have had
its origin a few years ago.
LTitil the day when Presi¬
access of depositors, and the banking superintendent
dent
Cassatt
of
the
Pennsylvania
Railroad issued the
of this State recently said to the Savings Bank Asso¬
ciation that if bur bank system has a weak spot it is decree that no more passes should be issued by the
“in its partial failure on the ground of accessibility;” great system of transportation of which he was the
he, therefore, seemed inclined to think this difficulty head, the State of Pennsylvania remained largely
under the domination of the railroads. So long had
a strong argument for postal savings banks.
The proposition is to graft a separate depart men ton men in public life enjoyed the privileges of free trans¬
the banks.
Such separation would be necessary, portation for themselves and the members of their
since the regular clerical force would have neither time families that the sudden cutting off of these favors., it
nor ability for the new work.
Indeed, one of the seri¬ is claimed, awakened a spirit of resentment. Soon
after the event referred to planks were inserted in the
ous errors of the proponents of it—an error shared by
nearly all the persons who have rushed into print as platforms of political parties declaring in favor of allt
critics and instructors on the subject since the agita¬ kinds of legislation antagonistic to the railroads.
tion about it began—is that life insurance is a sort of Politicians of different faiths vied with each other in
simple business which can be done offhand by anybody a struggle to frame anti-railroad planks of the most
without special gifts and training.
If this attempt is drastic kind, and in the subsequent contest at the polls
the Republicans won.
made, that will be found otherwise.
The Governor and members of the Legislature,
Practical difficulties in the details we need not stop
in
and Judge
in the “Atlantic” in
Boston, that agents are unnecessary,
the
people
are
June 1
1907.]
1281
THE CHRONICLE.
platform,
gers,
the
use
and compensationjfor cars
owned or con¬
generally
having been elected upon an anti-railroad
trolled by persons other than'the carrier, and
found abundant reasons for proceeding to enact legis¬
all matters incident to the performance of their public
lation which was directly opposed by the railroad cor¬
duties and their compliance with the provisions of
porations. One of the first laws so
their charters and the laws of?the land.
cents-per-mile-passenger-fare-bill Act, which was ap¬
Authority is given to investigate complaints, and the
enacted is the two-
proved by the Governor on April 5 and becomes effec¬
tive on Oct. 1. It is a sweeping statute, affecting all
institute any inquiry of its own mo¬
tion.
After a full hearing, if the Commission finds
that there has been a violation of the law, it shall be
Commission may
companies operating railroads within the State. A
penalty of SI,000 is prescribed for charging more
its duty “to decide and recommend what will be the
two cents per mile for passenger service, but the mini¬
just and reasonable rate or rates, charge or charges,
mum charge need not be less than five cents,, and per¬
to be thereafter observed in such case as the maximum
mission is extended to the carrier to collect an excess
to be charged, and wiiat regulation or practice in
fare of ten cents when a passenger pays a fare upon
respect to transportation is^just, fair and reasonable
the train, but the excess fare must be refunded.
to be thereafter followed.”
As this was one of the bills which was early passed
This is regarded as the “lame” part of the bill.
The
by the recent Legislature, so it is the first one to meet
recommendations will be made to the Secretary of
with open opposition by the railroads, the Pennsyl¬
Internal Affairs and the Attorney-General, and if they
vania Railroad having begun an action to enjoin the
see fit to enforce the recommendations of the Com¬
County of Philadelphia from demanding any penalties
for violation of the Act.
The bill in equity alleges mission, the legal machinery of the Commonwealth
will be brought into play.
It was upon the advice of
that a maximum fare of two cents per mile would
than
Todd that the power of the Com¬
some Attorney-General
wes thus limited to a recommendation, for the
of the mission
reason that the State Constitution vests the real power
complainant’s passenger business within the State is of railroad regulation
in the Secretary of Internal
conducted at rates exceeding two cents per mile, and
Affairs.
Statutes have never been enacted to provide
that an enforcement of the new law would curtail the
for this officer carrying out the powers with wiiich he
company’s revenue to the extent of one million dollars wras
invested, and thus far his sole province has been
per annum.
Before the legislative committee Vice- to collect statistics and make recommendations.
President Thayer stated that the loss in revenue would
Section 9 of the Act is more specific. It provides
amount to $2,000,000 yearly.
that if a shipper renders any service or furnishes any
It is understood that the legal department of the
instrumentality to the carrier the Commission may
Philadelphia A Reading Railway Company is preparing
determine
is a reasonable charge as the maxi¬
to commence a similar action.
The Reading’s first mum to be wThat
paid by[the carrier or carriers to the shipper.
step, however, has been to raise suburban passenger
The purpose of this is clearly to keep a check upon re¬
fares from 10 to 35%.
Commutation fares upon the
bates and the use of private cars.
Reading have been exceedingly low in the zone tribu¬
The Commission may make recommendations as to
tary to Philadelphia. This action will bring the
crossings; as to the form and filing of tariffs; it may
Reading fares about on a par with those already
investigate the causes of accidents, require the filing
charged by the Pennsylvania system at competing
in its office of copies of annual reports, recommend
render passenger business non-compensatory on
of the lines of the complainant; that about 54%
points.
anti-railroad law of much importance changes in rates and fares and investigate proposals
to increase capital stock or funded debts.
The Act
is the Dunsmore Act, providing for the creation of a
will not take effect until the first Monday in January
Railroad Commission. The measure stipulates that
Another
new
1908.
shall be appointed by the
Among the bills of minor importance affecting rail¬
Governor, subject to confirmation by the Senate, and
roads which were passed is one providing that it shall
that at least one of the three shall be learned in the
be unlawful to collect a car-service charge exceeding
law.
Compensation is fixed at $8,000 per annum.
one dollar per day of 24 hours; another making it an
The Commission may appoint an accountant , who shall
offense, punishable by fine and imprisonment, for any
be thoroughly skilled in railroad accounting; an in¬
officer, employee or agent of any railroad company
spector, who shall be a civil engineer skilled in railroad
who has charge of the distribution of cars to have any
affairs, and also an inspector who shall be an expert
interest in any operated coal property or in the stock
in electrical affairs.
The jurisdiction of the Commis¬
of any mining or manufacturing company along the
sion extends to railroads, canals, electric railways,
line of such road.
This is the direct result of the
underground, elevated or subway passenger com¬
revelations made during the investigation conducted
panies, bridges and ferries when used in connection
with the transportation of freight or passengers upon by the Inter-State Commerce Commission.
An Act providing for equal service and equal rates
any such railroad or railway, pipe-line companies en¬
without any discrimination was passed. Special per¬
gaged in the transportation of oil, sleeping and draw¬ mission to sell commutation tickets and excursion
ing room car companies, express companies, telegraph
tickets is given.
Both the corporation and the olficers
and telephone companies, all of which are referred to
as ‘‘common carriers.”
The Commission is given full participating in the violation may be fined $1,000.
This is one of several bills designed to enforce the re¬
power to inquire into the management of the business
of all common carriers, including freight and passenger quirements of the Constitution which have long been
allowed to slumber unheeded. Another measure of
rates and tariffs, and the equitable distribution of cars,
this kind is one prohibiting a common carrier from en¬
the granting of sidings and regulation of crossings, the
location of freight and passenger stations, the ade¬ gaging in the business of mining or manufacturing,
the penalty being a fine for the corporation and^its
quacy of facilities for the carriage of freight and passen¬
three competent persons
officers.
A third Act of this kind
prohibits the con¬
parallel and competing lines, with a similar
penalty. Under a penalty of $5,000, corporations
owning, leasing or operating steam or electric railways
must report to the Secretary of Internal. Affairs the
number of statute miles so operated, naming the
The evident purpose of this is to see that
termini.
passengers obtain the full benefit of the two-cent-permile law.
Still another bill prohibits a steam railroad
from buying or leasing a street passenger railway
which may be either parallel or competing to the
would-be purchaser.
In addition, there is the Em¬
ployers’ Liability bill, which there is some doubt about
the Governor signing.
Street railway companies are
given the right to carry express and light freight, and
they are given the right of eminent domain.
Thus in one session of the Pennsylvania Legislature
solidation of
more
anti-railroad laws
during
a
were
enacted than
were
created
long period of years.
ENGLISH RAILWAY TROUBLES.
Possibly the administrative officials of
will derive
c
some
our
railroads
comfort from the fact that the
man-
also just now obliged
to contend with unreasoning and vexatious exactions
and demands. The latest numbers of the English
railway papers which have come to hand bring this
feature prominently to view, and throw an interesting
light on the way burdens are piling up on the railways
of the United Kingdom and what strenuous efforts
are being made to ward off some of the blows which
are being unremittingly rained down upon them.
In
that country, too, the security markets are experienc¬
ing serious depression from that cause. We would
agers
[VOL.
THE CHRONICLE.
1282
of English railroads
are
commend that circumstance to the consideration of
those who,
LXXXIV.
20,000 people attended the Hyde Park demonstration
and
ence
vociferously applauded the speakers and all refer¬
to
the demands of the
men.
It is estimated
granted, they would involve
£7,500,000 ($37,500,000) a year. The
“Railway News” of London points out that the whole
loss would fall upon the so-called “ordinary” shares
of the British railways.
These shares in 1906 received
only £15,800,000 altogether in dividends, the average
rate of the dividends having been 3.27%.
A loss of
£7,500,000 wvould mean cutting these dividends in
two.
Mr. Richard Bell, Member of Parliament
and General Secretary of the Amalgamated Society of
Railway Servants, who was the principal speaker at
the Hyde Park meeting, thought the estimate of £7,500,000 was excessive. He was confident that the
cost would not come within £2,000,000 of that figure.
If it could be shown that it did, he was prepared to
modify the demands to that extent. But it will be
observed that even a loss of £5,500,000 would mean
cutting down the dividends on the ordinary shares
fully one-third.
What merits chief notice is the uncompromising and
unconcealed stand taken by Mr. Bell in favor of carry¬
ing out the policy entered upon, no matter what hap¬
In this regard he spoke with a
pens or who gets hurt.
degree of frankness and an absence of restraint that
was
positively startling. Probably the following
Tuesday morning, he said, his readers would find that
railway stock was reported as extremely weak, having
gone down owing to the speech made by him.
It
would not be his fault if it had gone down twenty
points. The responsibility rested absolutely with the
management of the railway companies, and if, as a
result of the present movement, any injury resulted
to the trade and commerce of the country and to the
shareholders and the public generally, the responsi¬
bility would not rest with the Amalgamated Society
of Railway Servants.
The railway .companies might
take it from him that recognition of the union officials
must be granted, and the quicker the point was con¬
ceded the better it would be for the companies, the
railway men, the commerce and the trade of the
that if the demands
a
were
total cost of
seeing that weakness in share properties
Exchange,
discourse learnedly of a world-wide demand upon
capital, and would have us believe that the secret of
the depression is to be found in that influence.
It
would be more accurate to say that there is a world¬
wide loss of confidence, which has in large measure
been brought about by local manifestations adverse to
railroads and other large undertakings and utter in¬ country.
difference as to whether their welfare is endangered
The “Railway Times” of London takes
is not confined to the New York Stock
or
not.
There is
rather
gloomy view of the outlook for British railways.
one
point of close analogy between the
movement in Great Britain and here.
Those conduct¬
ing the agitation delight in showing their contempt
for the consequences.
If the profits of the road
should become so seriously impaired as to involve a
reduction in dividends, or if trade depression should
ensue, these, we are given to understand, are trifling
matters alongside the great advantages to be gained
in other ways.
The movement simply must be carried
out, no matter what happens. The railroads are told
that this determination is deep-rooted and unalter¬
able, and the managers will only be making matters
worse if they oppose it.
In Great Britain just now the thing which is pro¬
voking most uneasiness is the demands of certain
elasses of employees for increased wages.
What is
known as the Amalgamated Society of Railway
Servants held meetings at Hyde Park and at 150 to
200 other centres of Great Britain on May 12 in sup¬
port of the demands for increased wages and a recog¬
nition of the union. According to the newspapers,
a
In
leading article entitled “The Discouragement of
Railway Enterprise,” in its issue of May IS
it points out that the depression in “Home Rails”
a
still
overshadows
all
other
developments
in
the
market.
Notwithstanding increases in receipts,
prices, it says, have sagged below the antici¬
pations of the most confirmed pessimist and there is
as yet little sign of substantial recovery.
For months
the impression has prevailed that the railway com¬
panies were to be compelled to grant all kinds of con¬
cessions not only to employees, but to the public, and
certain proceedings in Parliament, it urges, have lent
color to such anticipations.
This, added to the in¬
creasing price of coal and the growth in working ex¬
penses which has been characteristic of recent ac¬
counts, has left the railway market, we are told, in a
condition of such supersensitiveness that the slightest
occasion for alarm receives exaggerated importance.
The writer in the “Railway Times’' argues that the
situation would not be without its compensation if it
might be hoped that it would convey a sound economic
,
h
June 1
lesson, which appears at the present juncture to be so
much needed. The impression prevails among the less
intelligent part of the community that whatever ex¬
actions are made upon railway companies are so much
clear gain to the working classes and the public gen¬
erally. Agitators seek constantly to instill this
erroneous view into the minds of their followers, and
with only too great success.
But these latter must be
deluded indeed if they do not learn from recent events
that capitalists of all degrees are not likely to invest
their money in undertakings which are subject to the
attacks of agitators who are not able to estimate with
any approach to accuracy the effect of their own
demands. The result is that requirements for im¬
provements in British railways go unsatisfied year
after year.
Our contemporary declares that there is
not a railway board in the United Kingdom in which
the injunction to avoid capital expenditure is not re¬
ported almost ad nauseam. Continuing, it says:
“Many officers who with existing facilities are hardpressed to cope with traffic requirements could tell
British workmen of important undertakings that are
greatly needed but the carrying out of which is pre¬
vented by the disinclination of capitalists to invest their
money in enterprises in which the conditions are likely
to undergo arbitrary changes at the instance of po¬
litical
agitators.”
How like the situation in the
United States all this is.
ITEMS ABOUT BANES,
BANKERS AND TRUST GO’S.
National Bank of Commerce,
—Three lots of stock of the
amounting to 23 shares, weres old at the Stock Exchange this
week at 167 to 170. These were the only public transactions
in bank stocks, no sales having been made at auction. Tile
auction
sales of trust company
Shares. BANK—Xew York.
Low.
x23 Commerce, Nat. Bank of__ 167
stocks aggregate 74 shares.
High
170
TRUST COMPANIES—New York.
30 Bowl. Gr’n Tr. Co. (old stlc.) 240
240
33 Carnegie Trust Co
225
225
x Sold at the Stock Exchange.
Close.
170
240
225
Last
previous sale.
170
May
1907—
Feb.
1907— 240
1907— 222
May
—By a vote of 92 to 1.1 the New York State Assembly on
Tuesday passed the Hill bill, under which savings banks,
trust companies and insurance' companies holding any bonds
of the state bearing interest at not over 3% are to receive
a credit of 1% per annum on the par value of their holdings
of such bonds, this credit to apply upon or in lieu of certain
of their taxes. As noted last week, this bill has been framed
for the purpose
1283
THE CHRONICLE
1907.1
of inducing these institutions to
invest in the
deposit in any bank or trust company in Pennsyl¬
vania, or in any bank or trust* company in any other State
located in any city designated as a reserve city which shall
have been approved by the Commissioner of Banking.
The Philadelphia Clearing House, it may be recalled, decided
several months ago to accord Clearing House privileges to
trust companies maintaining a reserve of 15%, of which 5%
must be in cash and 10% in the shape of balances in national
banks.
Only one institution, it is understood, has availed
of the privileges under the above provisions.
We give here¬
with in full the text of the bill passed by the Pennsylvania
Legislature.
AN ACT to provide for the creation and maintenance of a reserve fund In
money on
-
banks, banking: companies, savings banks, savings Institutions,
companies authorized to execute trusts of any description, and to re¬
ceive deposits of money, which are now or which may hereafter be
incorporated under the laws of this Commonwealth, and In all trust
companies or other companies receiving deposits of money which may
all
heretofore or which may hereafter be Incorporated under
Section 29 of the Act approved April 29 1874, entitled “An Act for the
creation and regulation of corporations,” and the supplements thereto.
Section 1.
Be It enacted, &c., that all banks, banking companies, sav¬
have been
Institutions, companies authorized to execute trusts of
to receive deposits of money, which are now or which
incorporated under the laws of this Commonwealth, and
companies or other companies receiving deposits of money which
ings banks, savings
any description and
may hereafter be
all trust
have been heretofore or which may hereafter be incorporated under
the Act approved April 29 1874, entitled, “An Act for the cre¬
regulation of corporations,” and the supplements thereto, are
hereby required to create and maintain a reserve fund, which reserve fund
In amount and manner shall be as follows:
Every such corporation receiving deposits of money subject
Section 2.
may
Section 29 of
ation and
to check or
payable on demand
shall at all times have on hand a reserve
demand liabilities.
fund of at least 15% of the aggregate of all Its Immediate
The whole of such reserve fund may, and at least one-third
consist of either lawful money of the United States, gold
certificates, notes or bills Issued by any lawfully organized
Association, or clearing-house certificates representing
thereof must,
certificates, silver
National Banking
specie or lawful
specially deposited for the purpose of any clearing-house association,
owned by any such corporation as a member of a clearing house
association.
One-third, or any part thereof, may consist of bonds of the
United States, bonds of the Commonwealth of Pennsylvania and bonds
issued In compliance with law by any city, county or borough of the Com¬
monwealth of Pennsylvania, and bonds which now are or hereafter may be
authorized by law as legal Investments for savings banks or savings Insti¬
tutions In Pennsylvania, computed at their par value, and which bonds
are the absolute property of such corporation.
The balance of said reserve
fund, over and above the part consisting of lawful money of the United
States, gold certificates, sliver certificates, notes and bills Issued by any
lawfully organized National Banking Association or clearing-house certifi¬
cates representing specie or lawful money specially deposited for the pur¬
pose of any clearing-house association, held and owned by any such cor¬
poration as a member of a clearing-house association, and the part thereof
consisting of bonds, not exceeding the limit above provided, may consist of
money
held and
trust company In the
by the Commissioner
other State located
by virtue of the authority of
amendments thereto,
of Banking.
of money payable
times
have
on
hand
a reserve fund equal
all
bank
moneys on deposit, subject to call, In any
or
State of Pennsylvania which shall have been approved
of Banking, or In any bank or trust company In any
In any city designated as a reserve city by or
the Revised Statutes of the United States and the
which shall have been approved by the Commissioner
Section 3.
Every such corporation receiving deposits
shall at
all Its time deposits
Such reserve fund may consist
In part of lawful money of the United States, gold certificates, silver cer¬
tificates, notes or bills Issued by any lawfully organized National Banking
clearing-house
Association,
or
of
certificates representing specie
or lawful money specially deposited for the purpose of any clearing-house
association held and owned by any such corporation as a member of a
at some future ttme
to at least 7
% of
States,
Penn¬
sylvania, or of bonds which are now or hereafter may be authorized by law
legal Investments for savings banks or savings Institutions of Pennsyl¬
vania, computed at their par value, and which bonds are the absolute prop¬
erty of suen corporation: or it may consist of moneys on deposit, subject
to call in any bank or trust company In the State of Pennsylvania which
shall have been approved by the Commissioner of Banking, or In any bank
trust company In any other State located In any city designated as a
reserve city
by or by virtue of the authority of the Revised Statutes of
the United States and the amendments thereto, whl li shall have been
approved by the Commissioner of Banking: provided, however, that not
more than one-third of said reserve fund shall consist of bonds as aforesaid.
Section 4.
“Immediate demand liabilities” shall Include all deposits
payable on demand, and all Items In the nature of claims payable on de¬
mand; and “time deposits” shall Include all other deposits not payable by
the.contract of deposit on demand.
If the reserve fund of any such corporation shall be less than
Section 5.
the amount required by this Act, such corporation shall not Increase Its
liability or make purchases of any character otherwise than by dealing in
bills of exchange, payable at sight: nor shall It make any dividend of profits
until the full amount of the reserve fund required herein has been restored.
The Commissioner of Banking shall notify any such
corporation whose
reserve fund shall be below the amount herein required
to make good such
reserve fund, and If such corporation shall fall, for thirty days after the
receipt of such notification, to make good such reserve fund, such corpora¬
tion may be proceeded against by the said Commissioner of Banking for
this cause in the same manner as is provided In Section 9 of the Act of 11th
February 1895. entitled “An Act creating a banking department, &e.”
Section 6.
This Act shall take effect Immediately, except that such re¬
fund above required shall be created as follows:
Three-fifths thereof
within thirty days after this Act shall have become a law, an additional fifth
thereof on the first day of September 1907, and the final fifth thereof on
the first day of January 1908; and thereafter the entire amount of such
reserve fund must be, at all times, maintained and kept on hand as herein¬
clearing-house association, and In part of bonds of the United
bonds of the Commonwealth of Pennsylvania, bonds Issued In compliance
with law by any city, county or borough of the Commonwealth of
as
or
3% Canal bonds of the State. It was passed by the Senate
on May 15 and was published in full in this department last
Saturday.
—On June 8 a law providing for the creation and mainte¬
nance of a reserve fund by trust companies and other State
banking institutions in Pennsylvania- will go into effect.
The bill was passed at the recent session of the Legislature
and was approved by the Governor on May 8.
It is one of serve
t ie* proposed banking measures indorsed last December by
the officers and Council of Administration of the Pennsyl¬
required.
vania Bankers’ Association.
It is in many respects similar before
Approved the 8th day of May, A. D. 1907.
(o the law governing the reserves of trust companies in New
—The negotiable-instruments law in force in so many
York State, which provides for the maintenance of a reserve
other States has been enacted by tie* Illinois Legislature
fund equal to 15% of deposits by trust companies in cities
and will go into operation on July 1.
with a population of over 800,000 and 10% elsewhere.
—This year’s annual convention of the New York State
Under the Pennsylvania law it is required that. “all banks,
Bankets’ Association at the Hotel Frontenac, Thousand
banking companies, savings banks, savings institutions and
companies authorized to execute trusts of any description Islands, should be a very successful and entertaining meet¬
and 1o receive* deposits” shall be required to keep a reserve ing, judged by the efforts now being made by the Com¬
mittee of Arrangements, of
which Charles Elliot Warren is
of 15% against deposits subject to check or payable on de¬
Chairman.
The
speakers
invited
to address this gathering
mand and a reserve of 7^% against time deposits.
Onethird of the 15% reserve, it is stipulated, must consist of are: Governor Hughes of New York, Secretary of the Treas¬
cash; one-third may consist of bonds of cither the United ury Cortelyou, ox-Senator Spooner of Wisconsin, Secretary
Starts, the Commonwealth of Pennsylvania or any city, of State Eliliu Boot, William D. Murphy of New York,
Colonel John R. Van Wormer of New York, Dr. Alderman,
county or borough of that State, and bonds which now are
President of the University of Virginia, President Finley
or hereafter may be authorized by law as legal investments
of
the Southern Railroad Co, and Congressman Fowler of
for savings banks or savings institutions in Pennsylvania,
New Jersey.
After the morning session, Thursday, June
computed at their par'value; and one-third may consist of
27th,
a
[VOL. LXXXIV.
THE CHRONICLE.
12H4
trip will be made by
the assembled bankers on a
The institution has been fortunate
Broadway.
280
in hav¬
through the most beautiful parts ing an official staff and directing board of trustees in whose
Throughout its
of the Thousand Islands, to be followed in the evening by personnel there has been very little change.
entire history the only changes in the board were occasioned
the annual banquet.
Friday, June 29 there will be a num¬
M. Morrison, the President, has
ber of side trips to the natural attractions of this region, and by nine deaths, while David
has had Francis H. Page, Second Vice-President, and M. S.
in the evening illuminations, pyrotechnics, and dancing at
the hotel.
On Saturday evening the delegates will enjoy a Lott, Secretary, as associates since the company was organ¬
ized.
Mr.
was formerly connected with the United
searchlight excursion through the Islands.
Reduced States TrustPage
Company
and was elected to his present office,
hotel rates and railroad fare will be extended to all visiting
after first serving as Secretary of the Washington Trust.
delegates and their families.
H. F. Price was appointed Assistant Secretary when Mr. Lott
—On Monday of this week Frank Tilford was unanimously
succeeded Mr. Page as Secretary.
elected President of the Lincoln Trust Company of this city,
The new banking offices on the first floor of the Postal
succeeding Henry R. Wilson, who retires for a well-earned
Telegraph Building are finished in bronze and Italian marble;
rest, as well as for the purpose of devoting closer attention
rthe decorations are exceptional for their simple beauty and
to his personal affairs.
Mr. Tilford, who has hitherto been taste. The main room is easily accessible by a large stair¬
Vice-President and Chairman of the Executive Committee
On the Broad¬
case from the street entrance and elevators.
of the Lincoln Trust, was the organizer of the company.
way side there is a directors’ meeting room and a customers’
The new head of the institution was but twenty-two years
with special accommodations.
room
In selecting a new
of age when lie became a director in the old Sixth National
home the trustees considered the Postal Telegraph Building
Bank, being then the youngest bank director in the city;
central location clown-town convenient to the City Hall
he was also a member of the board of the North River Sav¬
Subway Station, Brooklyn Bridge, all the city’s elevated
ings Bank. In 1889 Mr. Tilford, with George G. Haven,
systems and the ferries connecting the railroads.
organized the present New Amsterdam National Bank
—The directors of the Commercial Trust Company of
whose presidency he resigned in 1890, parting with his in¬
this city have added to their board H. M. Swetland, and
terests later and organizing the Fifth Avenue Trust Com¬
Otis H. Cutler, President of the American Brake Shoe A
pany.
In 1902, recognizing the demand for new banking
Foundry Co.
facilities in the rapidly developing section between 23d and
—The Ironbound Trust Company of Newark, N. J., here¬
34th streets, he organized the Lincoln Trust Company, dis¬
specially chartered steamer
a
associating himself from all other banking interests.
During the past few years Mr. Tilford has been gradually
severing his connection as director in various large corpora¬
tions in order to devote more
attention to his two prior
interests, the Lincoln Trust Company and the grocery house
of Park & Tilford, of which he is also President.
The pro¬
gressive policy of the management
of the trust company is
growth of the institution, whose deposits are
now in excess of $24,000,000.
Besides a capital of $1,000,000, the company has an ample surplus. The officers, in
Owen Ward, Second
addition to President Tilford are:
Vice-President; William Harrow Jr., Third Vice-President;
Irving Gaylord, Fourth Vice-President, Robert C. Lewis,
Treasurer; Frederick Phillips, Secretary; Charles B. Collins,
Cashier; Edward C. Wilson, Assistant. Treasurer; Joseph
Z. Bray, Assistant Secretary and George J. Bayles, Trust
shown in the
Officer.
—The excellent address on
“The Evolution of the.Clearing
House,” delivered on April 11 by Edwin S. Schenck, Presi¬
dent of the Citizens' Central National Bank of this city, be¬
of Bank
printed in pamphlet form for distribution.
fore the New York
Clerks Jhas been
Chapter of the American Institute
—As announced
Loan A Trust
in these columns April 13,
Company of this city recently
the Farmers’
entered the for¬
eign exchange field, organizing a special department to issue
its own travelers’ letters of credit, foreign checks and bills of
collections in all coun¬
located at
475 Fifth Avenue, near 41st Street, has, now completed per¬
manent arrangements to supply travelers and its patrons
exchange, cable transfers, and make
tries.
The Fifth Avenue branch of the company,
bankers3 if preferred to those
further convenience, the company
with the letters of credit of other
of its
own
issue.
As.
a
supply express cheeks and foreign
nations for travelers' use at either the
will
money
of all denomi¬
uptown branch or the
banking offices at 10-22 William Street.
—The United States Mortgage A Trust Company of this
downtown
city, main office 55 Cedar Street, announces that its
Street branch, at 8th Avenue, will open to-day, June
125th
1, for
the* transaction of a general banking and trust business.
H. L. Servoss is Manager of the bran all and Merle Bell is
Assistant Manager.
The institution, which has a capital
and surplus of $0,000,000 and total assets of $48,000,000, has
and Broadway.
—The Carnegie Trust Company, of this city, which decided
several months ago to increase its capital from $1,000,000 to
$1,500,000, will have $400,000 of its new capital paid in to-day .
—The Washington Trust Company of this city, David M.
Morrison, President, announces its removal to new banking
offices in the Postal Telegraph Building, Broadway, corner
Murray Street. This well-known trust company com¬
menced business in 1889 and has been located during the
another branch at 73rd Street
eighteen years of its existence in
the old Stewart Building,
tofore referred to,
the 3d inst., at 11
is to begin business on Monday next,
Ferry Street. The company starts with
capital of $100,000, surplus of $50,000, and
George Forman, President; Charles
a
officers:
H.
J.
Bacheller,
the following
O. Lyon and
Vice-Presidents, and' Rufus Keisler Jr.,
Secretary and Treasurer.
National Exchange Bank of
Providence, R. I., at the special meeting on May 20, approved
the proposition to change the par value of the stock from
$50 to $100 per share.
The matter of increasing the capital,
which amounts to $500,000, did not come up.
—The stockholders of the
—Grier Hersh has tendered his
resignation as President of
Maryland Trust Company of Baltimore. Action in the
is expected to be taken by the directors at a meeting
next month.
Mr. Hersh was chosen President at the time
of the reorganization of the company in December 1905.
—Thomas H. Fitchett has been elected Assistant Secre¬
tlie
matter
of the Mercantile Trust A Deposit Company of Balti¬
more, Md., to succeed Charles E. Me Lane, who resigned on
account of ill health.
H. F. Stevenson has been chosen to
fill the newly created post of Assistant to the President.
tary
—A
meeting of the stockholders of
Farmers’ National Bank of Baltimore
the Commercial A
will be held on June 27
proposition to increase the capital from $500,000
The new slock is to be offered to present
shareholders at $120 per share of $100.
In commenting on
the new capital to be issued, the Baltimore “Sun” states that
the institution is a debtor of upward of $600,000, said to be
largely the result of re-discounted notes for which former
officers of the bank assumed an obligation.
It is to reduce
that indebtedness that the additional capital is suggested.
Through the’enlarged capital the bank will also be able to
to vote
to
on a
$700,000.
extend its loan limit.
—The
new
building erected by the Colonial
Trust Com¬
of Baltimore, on Saratoga. Street, was opened to the
on the 20th ult.
The structure is a low one, designed
solely for the company’s own use. Its exterior is of white
Dorset Vermont marble, which extends along the entire
height of the building, above the granite base of two feet.
A feature of the new building is the vault, the doors of which
weigh seventeen tons.
—According to last week’s published statements in re¬
sponse; to the calls of the United^States Comptroller of the
Currency and the Illinois State Auditor, the Chicago banks
and trust companies showed the largest deposits in their
history, viz., an aggregate of over $707,000,000. The State
banks show an even greater gain in deposits between the two
statements of March 22 and May 20 than the national banks
as given last week,
the increase of the State institutions for
the two months being $23,000,000.
Fifteen of these banks
pany
public
can
boast of
ing table:
highJ'records^on]May.20,';as"shownhnithe|lfollow-
THE
1907.]
June 1
High Record,
May 20.
Deposit gain
2 mos.
Chicago Banks—
Illinois Trust & Savings Bank
First Trust & Savings Bank
American Trust &
$5,150,000
4,000,000
— 3,500,000
2,700.000
2,450,000
2,220,000
2,100,000
660,000
500,000
400,000
200,000
Savings Bank
Bank of Chicago
Merchants’ Loan & Trust Co
Central Trust Co. of Illinois
Western Trust & Savings Bank
Colonial Trust & Savings Bank
Hibernian Banking Association
Union Trust Company
Prairie State Bank
Pullman Trust & Savings Bank....
Chicago Savings Bank & Trust Co
Kaspar State Bank
Drovers’ Trust & Savings Bank
State
Mutual Bank
Stock Yards Savings
18,011,124
12,776,706
Bank
Drexel State Bank
South Chicago Savings
Bank
based
North Carolina who will
general assets and under
proper State regulation is sound in theory and successful in
practice.” He then urged the repeal of the tax of 10% on
6,437,524
3,458,353
2,707,776
2,404,632
2,111,780
1,979,493
1,967,583
the circulating
Metropolitan
State
Preferred
Canadian Pacific
Chesapeake & Ohio.l.
Chicago Great Western
Chicago
Bank of Minneapolis,
balance
surplus
ritories.
which met in annual
session at Topeka on Maj” 20, 21 and 22, has adopted a reso-lution favoring Federal and State supervision of corporation
Bankers’ Association,
follows:
Federal and State, as will pro¬
and securities of public service
corporations, similar to that relating to banks, to the end that Investors
therein may have protection from excessive issues and unjust manipulation
thereof, and the public from the imposition of unjust burdens; and w»-fur¬
ther favor such legislation as will require all corporations engaged In InterState business to secure a charter from the Federal Government to the end
that proper regulation and control may be exercised by Federal authority
Resolved, that we favor legislation, both
vide strict supervision of the issue of stocks
over
them in the
interest of the
public welfare.
meeting wore: “Glimpses
of the United States Treasury,” by U. S. Treasurer Charles
H. Treat; “A Model Bank from the Viewpoint of the Com¬
missioner,” by State Bank Commissioner John Q. Royce;
Among the
topics discussed at the
Legislature of 1907 of Interest to Banks,” by
Newton; “Plutocratie Kansas,” by Stale
Governor E. W. Hoeh; “Kansas—Her Constitution and Her
Laws.” by Justice Silas Porter of the State Supreme Court,
Ac.
,T. \V. Berryman, President of the Stock Growers’
National Bank of Ashland, is the newly-elected President
“Acts of the
J. C. Nicholson of
©f tlu* association.
of “Banking in North Carolina, Past and
address was delivered by H. C. Brown, Chief
Clerk of the North Carolina Corporation Commission,-before
the annual convention of the North Carolina Bankers’ Asso¬
—Under the title
Present,”
an
and 2 4. In the course
development- of State
banking, Mr. Brown referred to the credit bank notes as pro¬
vided for in the currency reform plan recommended by the
Currency Commission of the American Bankers’ Association
and the New York Chamber of Commerce Currency Com¬
mittee.
He criticized this plan, saying that it “rejects en¬
tirely the many suggestions in the past for a currency plan
ciation, held at Durham on May 22, 23
of his remarks on the history and
contemplating the issue of notes based upon bank assets
other than those of Government bonds.
There is,” he added,
“a moderate element only of elasticity in the plan.
Banks
having^pargefamounts^invested in Government
bonds, and
Preferred.
Erie, common
Louisville it
Nashville
.
a
Preferred
Extension 4s
a PTice per share.
k
88
171 34
34 U
3214
254
7214
20 -4
54 k
36
138
11234
1934
114 34
20
32
65
53
32 k
05
53
34
/
82 34
127',
12634
61k
88 k
91k
9134
97
97
95
97
128 34
25k
7234
129 4
26
72
21k
21k
56
35
140
113
19 k
31 \2
563.,
30
140
-11
40
19
78 k
40 34
39 k
18 34
7 7 ?s
1834
17k
7234
22
57
35
14034
11434
194
33
33 k
64
53
_
_
114,4
324
Ilf
32 k
74 3
82 k
3234
8234
125 k
6134
5034
50
10
130
26
11434
52
113
(31
1733s
36 k
lou
64
52
_
70
824
1264
-
_
02
51 k
62
51,k
•41
41
40
40
20
19
78 k
IS
57
55
8934
32 k
99k
12
2234
63,34
794
184
78 k
19
58
5834
1384
904
34k
137k
138k
8934
33k
100k
1234
2234
6334
137 k
Ik
1
----
75 k
12'4
2334
6334
c For July
8814.
iik
173 k
30!
7534
59
137 k
89 k
32 k
100
5 £ sterling,
83 k
82 34
125
/
82*4
74 k
173 k
34
10
11234
32 34
112k
Fri.
Thurs.
30 15-1C
31
84 11-16 8434
S4 11-16C84 k
95.25
95-15
88
10
128
5513
2334
6334
% otimcvctal
96
3S
141
Reading Company
a First Preferred,
.......
a Second Preferred.
19 k
Rock Island Company
814
Southern Pacific..
193-4
Southern Railway, common
63
Preferred
141
Union Pacific, common
8934
Preferred
U S Steel Corporation, coin.. 34k
101
Preferred
12 >4
Wabash
a
89
96
22 k
61 ■ s
52 k
11
40
Pennsylvania
8634
ilk
90 k
9534
953 s
21
.
.
8734
1134
723-4
05
Preferred
National RR of Mexico.. .. 53
N V Central <t Hudson River. 11314
3434
X Y Ont ario & Western
Norfolk it Western, com.. . 77
Preferred..
Northern Pacific.
84
27
2014
3334
Central
Missouri Kans «t Tex., com
8334
72
142
115
Mexican
7534
S3k
9034
10 k
3S
95.00
74 34
130
564
First Preferred
Second Preferred
Illinois Central
S434
94.7234
172
Milwaukee it St.Paul 1314
Rio Grande, coin;. 27
Denver it
8415-16
94-60
74k
SS
88
176 k
35
10 }a2
~.
..
Wed.
31 1-16
S4 7-10
12
89
96
97
97’4
Ohio
Baltimore &
3134
84 3i
Tucs.
Mon.
31
84 7-16
84 4
Sat.
Week ending May 31—
Silver, per oz
d. 307 s
Consols, new, 24 per cents.. S4 9-16
84 k
For account
French Rentes (in Paris), fr. 94.70
74 ‘•4
Russian Imperial 4s
834
New 5s
Do
do
91 >4 .
Amalgamated Copper Co
12 k'
b Anaconda Mining Co
Atchison Topeka & Santa Fe. 90 H
96
Preferred..
.
Merrill,
stock issues, as
88..7700132549——T'Trhluhe*e
as
organized within the past few months, commenced business
on the 20th inst.
The bank has a capital of $100,000 and
surplus of $10,000. The officers are George C.
President; M. R. Waters, Vice-President; V. II. Van Slyke,
Cashier, and Charles F. Wyant, Ass'stant Cashier.
—On May 11 the directors of the City Savings Bank of
Omaha, Neb., authorized an issue of $500,000 stock, of
which $100,000 was to bo issued at once.
The bank had a
paid-in capital of $100,000. Part of the $100,000 increase
represents the declaration of a 10% stock dividend, the sur¬
plus and profits being used for this purpose. The
of the issue, $00,000, has been placed upon the market at
par.
At present the institution is not forming a
fund, but expects to do so in the near future.
—The annual convention of the Oklahoma Indian Terri¬
tory Bankers’ Association was held at Chickasha, I. T., on
the 24th inst., at which a resolution was adopted approving
the constitution proposed for the new State of Oklahoma, to
be formed through the union of Indian and Oklahoma ter¬
—The Kansas
Markets—Per Cable.
quotations for securities, <Ve., at London
reported
by cable have been as follows the past week:
London.
English Financial
daily closing
The
,419,144
with the
placed
bank
Presi¬
banks.
notes of State
pX jo ucta vyl (C out m cvciatgu glislvpews
,444,534
enlarged capital of the Merchants’ & Manufacturers’
Bank of Milwaukee, amounting to $250,000, became opera¬
tive on May 15.
The additional stock, $150,000, was au¬
It was offered
thorized b\* the shareholders last December.
to the stockholders and outside interests at $115 per share
(par $100) and the premium on the same, together
premium paid in at the time of organization, has been
to surplus account, making that fund $25,000.
The
began business on Jul}7 23 1900. L. M. Alexander is
dent and M. A. Gracttinger Cashier.
new
on
plenty of good conservative men in
say that a bank currency against
—The
—The
by reason of the low rate of interest
adverse to any system other than that
United States bonds. However, you will find
it has to pay, are
2,888,079
21,071,713
1
1
rsc
the Government, too,
$96,392,622
37,849,480
*
1285
CHRONICLE
91
3434
100k
101
13
23 4
13
23
account.
atitl pti s c cllatteows JpietuB
regarding
National Banks.—The following information
national banks is from the Treasury Department:
APPLICATION TO CONVERT INTO NATIONAL BANK
PROVED
The First State
Bank of Deer River,
AP¬
Minnesota, into “The First Na¬
Capital, $25,000.
ORGANIZED.
Certificates Issued from May 20. 1907, to May 25, 1907. inclusive.
First National Bank of Mays, Indiana.
Capital, $25,000.
M. I.. McBride, President; O. E. Rich, Vice-President; B. B.
Benner, Cashier; Ralph H. Miles, Assistant Cashier.
Old National Bank of Lima, Ohio. Capital, $125,000. J. C.
Thompson, President; F. W. Holmes, Vice-President; L. H.
Klbby, Cashier; A. C. Feltz, Assistant Cashier.
Bank of Deer
tional
River.”
NATIONAL BANKS
Territory. Capital,
Cashier.
First National Bank of Blanchard, Indian
$25,000. W. B. Crump. President; F. J. Stafford,
National Bank of Commerce ol Detroit. Michigan.
$750,000.
Richard P. .Toy. President; William i*.
Vice-President: Henry
First National
II. Sanger, Cashier.
Capital. $25,000.
Mitchell
Toronto. Ohio. Capital, $50,000;
B.
Vice-President
Bank of Beverly. New Jersey.
Morris R. H. Levin. President: William
B. Perkins, Vice Presidents R. W. D.
First
National Bank of
President: W.
Walker B. Stratton.
J. Collins.
T
8.706
—
—
A. Cortright and
Albury, Cashier.
Gouchcr.
Cashier.
The First National
Bank of Burkburnett. Texas. Capital. $25,000.
J. G. Hardin, Vice-President; H, D.
A. Kemp, President:
Creath, Cashier.
J.
8.707
Capital,
Hamilton,
Bank of Sierra Madre, California. Capital,
Charles S. Kerstiug and
Ivor Thomas, Cashier.
National Bank of Elk City, Kansas. Capital. $25,000.
First National
The
$25,000.
Alfred Cooper, President;
Annul IT. Hawks. Vice-Presidents; H.
Peoples
G.
K. Cox.
President; J. A. Brown,
Cashier.
First National
Vice-President; J. M.Cox,
Bank of Morrow. Ohio.
Capital, $25,000. R.
First Vice-President; P. K.
Knapp. Cashier.
8,710 —The First National Bank of Manawa, Wisconsin.
Capital, $25,000.
Lcander Choate. President; James B. Jensen. Vice-President;
Evans, President: Phillip Whitacre,
Urton, Second Vice President; W. E.
Christian D. Dick,
Cashier.
LIQUIDATION.
4,363—The First National Bank of
tary liquidation May 18
Yoakum, Texas, was
1907.
placed In volun-
Auction Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian II. Muller <& Son:
Stocks
Stocks.
2 Citizens* Nat. Bank.
choffuc, N. V
10 Electrozone Co
160 Meriden Cutlery
each
3,000
35
Pal$4 lot
Co. $25
65
Mergedtlialer-Horton Bas¬
ket
I
Machine
Co.,
$1
$71 lot
each
Club. 1907 as¬
sessments paid
$405
1 Jekyl Isid.
^10 Baron
Hlrsen Cemetery
$900 lot
Co., $25 each.
Carnegie Trust C’o^
201
35 Metropolitan Surety Co , 126
3) Bowling Green Trust Co.
(old) -.1
240
'100 Electric Boat Co., pref__ 82
225
Bonds.
160 Standard
Rope & Twine
Col
Co.)$26
$4,000 Stand. Rope & T.
Bonds. $319.05 has been paid I
on each bond
J
$10,000 Standard Cordage Co.
Adjust. Mtge. 3s 1931. A.&O.
S!4
$1,800 Montgomery Lt. & Wa¬
78
ter Pow. Co. 1st 5s 1943
$30,000 Edison Un. Phono-1
graph Co. Coll. Tr. Bonds)
Edison Bell United
Phonograph Co., Ltd.,)
deferred div. otfs
j
PA ,363
$100 lot
[VOL.
THE CHRONICLE
1286
Breadstuffs Figures Brought from Page 1317.—The state¬
DIVIDENDS.
ments below are
prepared by us from figures collected by
Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since Aug. 1 for each of the last three years, have been:
following shows all the dividends announced for the
future by all large or important corporations.
Dividends announced this week are printed in italics.
The
the New York Produce
Books Closed.
Days Inclusive.
When
Per
Cent. i Payable.
Name of Company.
iJune
2
VA
'June
314
lJuly
i July
2
r
July
Vi June
IJune
VA
1
i June
June
2a
2! 2 July
2H June
4
July
2A 1.1 illy
..;
Delaware A Hudson Co. (quar.)
Detroit A Mackinac, pref
j
East Malianoy
I
Kansas City Southern, preferred
Missouri Pacific (No. 57)
- j
New York Philadelphia & Norfolk
j
Norfolk & Western, common
Phila. Germantown & Norristown (quar.)
Pittsb. Bessemer A Lake Erie, pref, guar
Southern Pacific Co., pref. (So. 0)
Southern Pacific, com. (quar.) (No. 3);
Union Pacific, common (quar.)
Holders of
May
rec.
to
11
to
June
1
June 22
to
Holders of rec. June
June
to
May 26
Holders of rec. June
Holders of rec. May
Holders of rec. May
Holders of rec. June
Holders of rec. June
June
June 15
to
to
May 19
1 Holders of
1 Holders of
15 Holders of
1 June 16
15 Holders of
1 June 11
20 June 21
1 Holders of
19 Holders of
4 Holders of
1 Holders of
12 Holders of
rec.
rec.
rec.
to
rec.
May
May
May
May
July
May
July
July
May
May
May
May
Com.
6
2A
3
3
3A
June
June
June
; June
July
July
July
Vi
2 A
1
1
rec.
rec.
rec.
rec.
rec.
to
May 30
.
.
1
1
15
18
20
3
3
,
.
Tot.wk.’07
Same wk. '06
Same wk. ’05
1 to
!
|
1
iJune
!
|
Vi
...j
June
Vi June
1% July
3A IJune
City Ry. A Light, pref. (quar.).
Metropolitan St., N. Y. (quar.)
1
Metropolitan West Side El. Chic. pf. (q.)i
Norfolk Railway A Light
j
Northern Ohio Traction & Light (quar.)i
Paducah Traction A Light, pref. (No. 2)1
Pensacola Electric Co., preferred (No. 1);
South Side Placated, Chicago (quar.)
I
Rochester Ry. A Light, pref. (quar.)
|
Washington (D. C.) Ry. & Elec., pref
;
1
j June
June
June
A
1
iJune
'June
3
L
Vi
2A
June
June
Banks.
Bank of the Metropolis (quar ).
Trust Companies.
4
June
Jenkins, Brooklyn (quar.)
Van Norden (quar.)
1A
2
rec.
1
I Holders of rcc.
II Holders of rec.
to
1 May 20
to
IJune 21
fune
I
Kansas
151 Holders of
Tune
Since Aug. 1
1906-07... 17,495,423 211,893,476 172,797,492 175,203,S09 63,095,340 7,034.086
1905-06... 16,997,877 204,405,367 155,083,117 193,309.955 71,058,103 7,262,646
1904-05--. 14,357.527 187,486,737 155,93.8,695 138,569,213 61,153,007 6,300,826
1
1
1
21
15
31
2
15
June 29
Rect ij)ts at—
New York
Boston
Portland
—
•
29lJune 23
ltMrw 25
15
lfcoders
lillolitffs
1 i Holders
to
to
of
of
rec.
May 15
Philadelphia
May 15
May 15
Richmond
1
July
1
Holders of
June 21
rec.
to
2
2
Vi iJune
lJuly
1
June
3
3
June
;July
Vi ; J une
June
1
J
lA
| June
June
June
June
IH
1
1H July
19A 'July
Vi iJune
2 A i June
!
Preferred (quar.)
Cable, guar, (quar.).,
American Tobacco, common tquar.)
;
Common, extra
j 5
Associated Merchants, eommon (quar.).
1H
*- Common,extra (quar)..
A
{
1
Barney A Smith Car, common (quar.)..
2
Preferred (quar.)
j 1A
Borden’s Condensed Milk, pref. (quar.).
Butte Coalition Mining
50c.
j
1
Butterick Company (quar.)
Calumet <fc Hecla Mining (quar.)
$20
.
Central Leather, preferred (quar.)
va
American Teleg. A
j
'
Central A South American Telegraph
Childs Company, common (quar.)
p Preferred (quar.)
1
IA
VA
pref.j
) une
June
A
Vi
VA
fuly
June
July
July
.
June
1 A
3A
_
1
(luggtnhtiw Exploration (quar.)
International Paper, pr»f. (quar.)
,
Kings Co. Elec. T.ight A- Power (quar.)..
Laclede Gas Light, common (quar.)
j
Massachusetts Gas Cos., pref
1
.
National Biscuit, common (quar.)
•
National Enum. A Stamp., prof. (quar.)i
National I.ead. common (quar.)
;
Preferred (quar.) (No. 02)
,
North American Co. (quar.) (No. 18)--,
Preferred (extra)
Rubber Goods Mfg.. pref. <quar.)(No ,33)
Safety Car Heating A Lighting (quar.)r —
Extra
Stars. Rot buck A <
prt/trrtd (quar.). 1
Sloss-Sheffield Steel A Iron, com. <quar.)i
Standard Oil iquar.)
Union Stack Yards, Omaha (quar.)
.
Corp., pref. (quar.)
July
June
July
July
•>
June
June
I une
Vi
2
1*4
1H
14
14
14
24
14
'4
54.50
Vi
July
July
July
i
June
iJune
J une
i.J uiy
July
June
June
Vi July
2d. J uly
1H
O
*»
_
United Cigar Mfrs.. pref. (quar.) (No. 4)
U. S. Cast I. Pipe A Fdry., com. (quar.)
Preferred (quar.) (No. 2fi)
United states Leather, preferred (quar.),
U. 3. Red. A Refg.. pref. (quar.)(No. Id)
U. S. Steel Corp., com. (quar.) (No. 14).,
Waltham Watch, common
Preferred
June
June
in
14
1A
2 4
14
1
Quincy Mining (quar.)
!
Railway Steel Spring, preferred (quar.). J
Republic Iron A steel, preferred (quar.)j
Unit'd Bank Note
July
2*4
Common, txtra
r-
Julv
ll>
1
2A
uuPoiit(E.I.)de.NeinoursPow.,com (qu )
Eastman Kodak, common (quar.)
Preferred (quar.).
Federal Mining A Strutting, com. (quar.),
Philadelphia Electric..
Quaker Oats, common (quar.)
Common (extra)
June
June
June
June
June
June
2 li
Colu’hus A Hock.Coal & Iron, new
Consolidated Gas of New York (quar.)..|
Diamond Match (quar.)
I
Denver Gas’A Electric (monthly)
j
_
•fuly
Vi
Vi
;
General Chemical, pref. (quar.)
Great Northern Paper (quar.)
June
J une
June
fune
fune
June
fune
June
June
2 ok
!
City A* Suburban Homes
Cine. A Sandusky Brew., com. (quar.)..',
Prefernd (quar. >
•
Columbus Gas A I’uel. pref. (quar.)
i
Prefernd (quar.)
May
May
June
14
14
$9
14
l 4
14
1
VA
14
14
A
14
3
June
July
July
Juiy
June
June
June
July
June
June
June
July
July
July
July
June
1
May
Montreal
17
to
July
to
to
June
June
June
June
June
Julie
June
June
May 19
May 25
May 25
to
to
to
Holders of rcc.
to
June
2
June
to
2
-
to
to
to
15; May 15
to
l'May 15
15; June 6
to
to
to
to
to
1 May 12
1 May 12
to
1 Holders of rcc.
1 June 21
to
to
1 June 13
1 Holders of rec
1 Holders of rcc.
762,262
1,426.581
1,511,932
55,346
62,528
.bbls.
-
The
29
2
3
* 3
foreign ports
1904.
7,334.674
31.800.88S
8,173.887
62,262,929
35,404,261
55.136,087
16,640,552
17,376.115
27,296.966
17,168,947
3,215,182
185,456
1.681.622
500,680
2,326,465
780,891
6.777,501
758,126
.109,515,636
137.003,705
-
1905.
4,131.225
bush. 32.712,293
51,720,575
21,975,412
.83,351,164.
64.024,330
exports from the several seaboard ports for the week
ending May 25 1907
bush.
bbls.
Oats,
bush.
384,532
16!), 100
271,203
230.2S7
58,830
41,344
197,199
190,084
438,111
1,257
72,785
5,400
39.200
58.200
Baltimore
Flour,
bush.
Exports from—
New York
Portland
Boston
shown in the annexed statement:
are
Wheat,
June
2
June
2
June 2
June
2
June 16
June
4
June 16
1906.
1907.
6,623.861
Total grain
1
49,618
78.743
from Jan. 1 to May 25 compare
7,955,287
Barley
Rye
1
20
2
15
569,488
Total receipts at ports
follows for four years:
Wheat
May 21
July
2
July 2
Com,
Rye,
Barley,
bush.
76,423
bush.
Peas,
bush.
4,386
—
—
"569
Norfolk
Newport News.
Mobile
New Orleans
Port Arthur
’
8/196
..
..
...
195,400
693.789
13.000
42,200
28,950
7.377
8,450
10.875
•
1,250
4,944
3,997
June 16
June 16
June
9
June 9
9
June
1
July
June
1
1
June 30
July
May 31
Flo ur
......
Brit. No. Am. Cols.
Other countries
—
.
2
5
July
5
July
May 19
June 20
June
1
1
J une
S
Juno 14
June 14
J une 30
2
June
July
July
May 20
May 31
l
dividends and being
13,501
15.004
--Corn
II li ea t
July 1.
1906.
bbls.
5,513,215
2,382,676
760,199
1,360,591
77.250
179.259
Since
Since
Week
July l
May 25.
July 1
1906.
May 25.
1906.
bush.
bush.
bush.
bush.
Week.
1
.127,813 42,251.981
680,011 39.375.062
7.896
3.900
398,224
17.965
8,000
397.298
688,081 30,301.703
545,231 35,991.151
801,841
3.1 17
2.1 17.212
59,941
118
82,168
966
166.347
supply of grain, comprising the stocks in
the principal points of accumulation at lake and
ports May 25 1907, was as follows:
Rarity,
Oats,
Rye,
granary at
Wheat,
New York
Boston
.
.
Philadelphia.
Baltimore.
New Orleans
.
...
(laivcsfi >n
Montreal
Toronto
Buffalo
Toledo
Detroit
Chicago
Milwaukee
...
.
..
.’
Duluth
_
651,000
311.000
153.000
i ,052,000
.
3.519.000
7.097,000
12.002,000
1,890.000
3.019,000
219,000
89.000
257.000
27.000
181,000
bush.
bush.
bush.
17.000
1.688,000
45.000
199.000
321.000
145,000
14,000
235.000
4.000
1.000
121,000
2,328.000
s.ooo
90.000
381 .000
469.000
.84,000
235.000
26.000
1,725.000
208.000
,000
8.000
376.000
2.000
168.000
51,000
1.000
49.000
898,000
1,737,000
5.000
29.000
3,000
147.000
187.000
1
-
-
258,01)0
1
18.000
12.000
45.000
422,000.
188.000
90.000
601 ,000
77,000
150.000
1.205.000
713,000
351.000
136.000
74,000
200.000
43.000
169.000
20.000
May 25 1907. .50,797,000
May IS 1907. .50,903,000
5,238,000
0.644.000
2,309,000
4,233,000
3.740,000
4,88(5.000
1 1.040,000
705,000
924.000
1,611.000
1,057.000
1.315,000
St. Louis
Kansas City.
On Lakes
On Canal and River..
Total
Total
Total
Total
Total
Total
bush.
1.790,000
392,000
611.000
242,000
367.000
3.866.000
Minneapolis
Corn,
bush.
60,000
600,000
456,00012.000
2.214.000
6(59,000
336.000
.
o
June 10
June 30
1
July
June 10
May 17
26,475
11.8.2S1 101.393
572,891
6S.256 222,029
visible
The
Mav
May 15a
8'471
24,970
175,626 10.273,190 1.819.620 82,44.8,530 1.297.181 69.460.422
702,840 107900,40,8
9,846,152 1.486.017 51,422.357
191,756
Total
Total 1905-06
seaboard
31
July 15
i
July
i
July
June 16
723
7.669
26,475
24,970
Since
Exports for week and May! a.
bbls.
since .July 1 to—United Kingdom.. 75,409
39,226
Continent
South A Cent. Am. 24,223
West Indies
28,2.86
75
exports for the week and s’nee
The destination of these
July 1 1900 is as below:
week.
—
512
141.511
44.142
-.1.819,620 1,297,484 175,626
702,840 19-1,750
L.1,486.017
June 20
Julv
June
3,008,5.82
2,648,679
as
Corn.
Oats.
to
June 14
2,8
5
15 Holders of rec. June
to
44,946
Receipts of—
1
15 May
to
1 May 21
15 Holders of rcc.
to
1 May 21
to
1 June is
1 May
to
21
146,726
1,250
88,500
Receipts do not include grain passing through New Orleans for
through bills of lading.
Flour
to
4,June 5
June 15
to
15 June 2
to
June 15
15 June 2
1 Holders of rec. June 15
1 June 16
98,494
Rye,
bush.
48,050
693
875
on
a
2( June 18
June
to
2
1 May 16
28 Holders of roe. May 31
of
rec.
June
10
li Holders
lj Holders of rec. May 14
June 10
to
10 i June
5
June 10
to
10 June
5
1 Holders of rec.
to
15 June
6
to
1 June
1
IJune
1
to
to
15 June
l
to
15 June
l
to
15 June’ t
to
1 June 22
to
1 May 23
to
1 June 16
to
l June 16
to
1 May 23
15
to
1 May 16
to
15 s Itme 29
to
ljJune 11
to
1 IJune 15
to
15 May 25
1 Holders of rcc.
to
15.May 23
15 Holders of roc.
151 holders of roc.
to
10 May 17
to
20 June
9
to
1 June ll
to
1 June 11
1.5 Holders of rcc.
1 Holders of rec.
1 Holders of rcc.
25,033
386.164
352,130
Philadelphia
May 16
May 16
liMay 28
11.May 28
S78.090
111,800
60,750
656,000
552,832
169,100
476,424
50,850
04,586
7,377
10,845
-
Total week
Week 1906
May 29
May 31
May 31
to
2,000
bush.
8,450
June 30
to
Holders of rec.
Holders of rcc.
June 23
to
a Transfer books not closed,
d On account of accumulated
remainder of such dividends unpaid,
k Payable in stock.
11
11
June 12
June 15
2
American Fxpress
American Graphophone, common (quar.)
American Radiator, common (quar.)
American Shipbuilding, common (quar.)
Amer. Smelters Secur., pref. “A” (quar.)j
Preferred "B" (quar.) (No. 8)
I
American Strawboard
j
American Sugar Refining, common (quar)!
y
June
,
87,046
78,935
174,206
16,700
124,000
72,977
172,189
83.052
13,000
146,000
4,000
Com,
bush.
143
June 28
June
3
June
1
Miscellaneous.
Adams Express
Extra
A labama Consol. Coal A Iron, pref. (qu.).
American Caramel, pref. (quar.)
American Chicle, common (monthly)...
American Cotton Oil, preferred
Barley,
bush.
8.400
Wheat,
bbls.
90,391
77,202
5,306
..
Oats,
bush.
741,800
108.118
Flour,
127,398
34,019
New Orleans.a—
Galveston
to
June 30
30 June 20
1 Holders of rec. May 27
June
to
1
1 May 22
iJune
.
Baltimore
rec. May 17
d rec. May 22
'June
of flour and grain at the seaboard ports for
May 25 1907 follow:
Total receipts
the week ended
16
June
4,848,644
3.041,795
'
86,569
42,191
47,288
755,843
344,946
425,144
2.780,322
2,731,031
2,799,116
2,755,723
3,370,071
1,904,121
1,981,251
310,213
443,239
324,638
...
Street Railways.
American Railways (quar.)
Cnattanooga Ry., pref. (quar.).
Columbus (O.) Ry., common (quar.)
Grand Rapids Ry.. common (quar.)
*
—
30
31
10
10
25
June
Rye.
Barley.
....
21. 26.0 0
-
to
to
Oats.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu. 56 lbs.
33.000
941,544
1,385,205
221,112
391,600
168,700
20.700
Milwaukee.
85,000
52,000
152,000
277,200
63,175
45,935
63,351
4,929
Duluth
675,540
17,295
108.350
20,540
94,480
172,280
1,702,420
Minneapolis
400
157,000
40,500
Toledo
15,000
30,300
176,000
2,400
52,334
Detroit.
68,912
8,040
91,789
Cleveland
1,093
6,000
3,900
43,900
95,337
624,220
St. Louis-..
532,410
252,700
1,000
10,800
379,500
18,000
Peoria
13,650
331,000
72,200
Kansas City334,000
Chicago
June 15
2
June
June
9
July 10
.
1
1
4
1
1
1
1
IJune
l
Chic. Rock Island & Pacific (quar.)
j
Cln. N. O. & Texas Pacific, pref. (quar.).,
Cleve. A Pittsb.. original guar, (quar.)..;
Special guaranteed (quar.)
20
1
10
10
29
2A iJune
3
; July
2 A i J une
4
July
VA July
\
Preferred {quar.)
June
1
3
Wheat.
Flour.
Receipts at—
I
Railroads (Steam)
Ashland Coal A IronRy. (quar.)
1
Atchison Top. A Santa Fe, com. (No. 13)I
Atlantic Coast Line Company (quar.)...,
Atlantic Coast Line RR.. common...
Boston A Albany (quar.)
Boston & Lowell
Boston A Maine, common (quar.)__.
Buffalo & Susq., pref. (quar.) (No. 20)..;
Chestnut Hill (quar.)
j
Chicago <£• North Western, common
'
LXXXIV
.
.
Mav 26 1906. .31,963,000
May 27 1905.
May 28 1901 .21,575,000
May 30 1903. .24,568,000
94,000
to.397,000
10.123,000
9.152,000
5,738.000
4.802.000
_
15.000
937,000
956,000
1,072,000
1,207.000
1,129.000
2.046.000
930.000
June 1
Clearing-House Banks.—
The following statement shows the condition of the New
York City Clearing-House banks for the week ending May
25.
It should be distinctly understood that as to all items
except capital and surplus the figures are the averages of the
daily results, not the totals at the end of the week. In
other words, in reporting loans and deposits and holdings of
specie and legal tenders, the practice is to take the aggre¬
gate of the amounts for the several days of the week and
divide this aggregate by the number of days.
Statement of New York City
We omit two
430,1
5,364,7
503,7
2,411,3
160,6
910,3
698,6
4,983,7
14,945,0
5,028,2
784,0
1,048,4
500,0
"5,000,0
25,000,0
3,000.0
500,0
450,0
200,0
2,000,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
750,0
1.500,0
3,000,0
250,0
3.000,0
500,0
10,000,0
North America.
Hanover
Citizens’ Cent..
Nassau
Market & Fult.
..
Corn Exchange.
Oriental
Imp. & Traders
Park
East River
Fourth
Second
First
Irving Nat. Ex_
.
Chase
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
Fifth
25,263.7
77.938.0
1,384 8
19,339,3
10,003,0
90,235,7
15,SOS,6
3,205,0
5,088,7
3,639,2
55,01G,6
124,4
19,981,1
1,038,2
779,9
604,0
4,595,2
1,894,9
831,4
944,6
1,500,4
1.369,1
458,5
1.718,0
852,7
1,357.2
699,2
2,291,1
626,5
284,8
611,4
424,0
1,000,0
200,0
1,000,0
300,0
1,000,0
1,000,0
Liberty
N. Y. Prod. Ex.
New Amsterdam
State
llth Street....
10,742,0
1.000,0
1,000,0
1,000,0
971,6
98,0
527,1
189,0
1,111.7
2,060,8!
3,524,8
5,151,8
207,0
947,5
825,0
763.7
688.1
1,076,1
2,171,3
304,7
204,4
1,582,2
578,6
929,9
496,0
3,633,0
623,0
2,579.3
1,690,8
3,064,1
10,429.6
4,084,0
16,506,0
4,414,0
13.247,8
6,656,6
1,756.91
1,626,0
345,0
4,042,0
664,3
429,9
430,9
209,0
1,367.5
443.0
874.7
4,527,8
12,758.0
6,802,2
4.300,0 i23.9
19,379,0 27.1
4,205,0 23.0
532,0
1
11,722,3127.6
7,943,7126.6
5,611.1 |23 2
15.808,0:26.8
7,302,5:24.5
1
129,100,0 160,414,5 1126.389,5 221,189,6 72,659,4 1112,640,5 ■20.3
Totals
t
a
163.4
10,204,9
7,261.2
5,583,5^26.5
2,537,1 33.6
15,571,9 26.4
66,257.9 27.1
19.752.1 26.9
3,907.4 18.S
7,298,2 27.6
10,938,2 25.2
45,400,0 26.7
10,745.1 25.7
22,092,0 25.3
8S.0S3.0 25.2
1,656.2 25.S
19.172.0 25.9
9,582,0 26.0
76,750,3 26.5
15,434,1 25.6
3,501.0 23.2
6,458,5 24.4
3,393,2 25.4
60,414,3 25.6
11,150,0 26.9
4,283,5 24.0
6,176,5 23.5
13,468,3 24.1
7,480,4 25.2
3,100.5 25.2
10,517,8 25.5
2,117,0
1,423,0
1,420,7
676,3
14,379,5
27.8
27.6
26.2
26.2
24.7
27.7
28.8
27.8
22.9
26.4
25.9
27.0
22.3
23.9
25.4
6,351,2
2,429,5
20,090,0
6,487,6
19,892,1
124,844,8
15,352,6 29.3
4,009,7 25.4
5,061,0
717,0
1,054,4
12,843,9
137,700.1
24,821,9
6,511,3
1,285,0
6,769,8
1,961,1
447,2
588,0
196,4
4,558,0
329,5
1,421,0
2,989,8
%
17,263,0
29,300.0
17,551,0
21.767,0
23,784,5
7,447.0
506,7
864,S
379,1
7,683,0
2,437,4
4.185.0
ir.21S,0
265,6
2.858,0
1,077,0
18,939,5
38.517,0
9,920,8
3,166,6
1,900,2
500.0
1,000,0
250,0
West Side
Seaboard
1st Nat., Bklyn.
1,871.5
7,130,7
8,415,3
100,0
a Re-
S
9,574,5
827,8
620.1
474,8
2,836,3
11,192,3
3,361.6
290,8
1,427,1
2,561.6
5,612,9
16,160.6
56,841,5
841,6
3,735,2
22.266,4
3,677.5
512,2
146,063,0
19,562,7
3,355,6
20.268,0
3.525,5
7.513.S
200,0
200,0
Metropolis
5,866,2
27,370,5
966,0
346,7
1.541,4
890,7
4,834,2
1,204,8
200,0
750,0
5,000.0
1,071,5
562.9
3,831,0
1.146.6
16,774,0
2.295.3
8,389,8
250,0
3.766.4
1,955,0
36,283,7
5,252,3
1,369,8
2,238,2
469,5
2,000,0
Bowery
N. Y. County..
German-Amer
3.475,0
154,386,9
25,359,0
6,280,S
8,721,5
22,552,8
1,000,0
300,0
2,000,0
People’s
Metropolitan
4,080,5
600,0
Merchants’ Ex.
Gallatin
Butch. & Drov.
Mech.& Traders
Greenwich
American Exch.
Commerce
Mercantile
Pacific
Chatham
Deposits,
S
1,773,0
2,100,0
1,034,0
2,228,0
2,117,2
108,0
3,490,8
1,648,8
124,2
608,6
67,2
1,591,0
300,0
1,023,6
S
3,032,0
6,000,0
3,578.0
$
18,489,0
25.100,0
14,959,0
21,728.0
22,740,9
7,901,0
3,679,4
1,000,0
25.000,0
3,000,0
Legals.
Specie.
City, Boston and Philadelphia Banks.—Below
of the weekly returns of the Clearing-House
banks of New York City, Boston and Philadelphia.
The New
York figures do not include results for non-member banks:
New York
is
a
summary
We omit two
Capital
Loans.
Specie.
Legals.
$
288,090,5
289.514,5
289,514,5
289,514.5
289,514,5
$
1123,417,6
1140,320,3
1126,223,6
1124,SOS,7
$
$
43,680,0
43.680,0
43,680,0
*43,680,0
190,849.0
191,569,0
191,665.0
190.7S2.0
and
Banks.
New York
Apr.
May
May
May
May
27..
4._
11..
18.
25..
.
week ending
Clearings.
$
$
$
May 4..
May 11..
May 18..
May 25-.
Phila.
a
4,871,0
4,153,0
4,270,0
227,257,0
218,193,0
218,740,0
8,525,0
8,484,0
8,499,0
17,632,0
4,416,0
214,616,0
8,492.0
260.589,0
259,958,0
264,595,0
265,331,0
14.015,0
14.009,0
191.385.9
156.747.1
157,947,4
140.S23.1
=*
,
51,165,0
51,165,0
51,165,0
51,165,0
May 4..
May 11..
May IS..
May 25..
19,208,0
19,135,0
18.051.0
59,241,0
57.S90.0
60,398,0
60,319.0
224,495,0
226,382,0
225.300,0
226,050,0
158,783.5
142,592,9
144,546 ,S
13S.469.7
14,031.0
14,055,0
Including for Boston and Philadelphia the item "due to other banks’* and
Government deposits.
For Boston these Government deposits amounted
May 25 to $4,56S,000; on May IS to $4,577,000.
also
on
Imports and Exports for the Week.—The following are
the imports at
totals since the
New York for the week ending May 25, also
beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
For week.
1907.
Dry Goods
$2,709,525!
General Merchandise
10,054,054
1905.
1906.
J
10,631,092!
$1,806,823
8,100,613
$13,045,3So!
$9,907,436
$2,414,288
$2,576,706
11.457,166
|
$12,764,179' $14,033,872
Total
Since Januar}/ 1.
1904.
]
1
$68,990,665
243.SS4.703
$59,432,990! $50,652,2S0
242.758.97S! 202.144,142
$369,913,3S1 ,$312,875,368
$302,191,908!$ 252,790,422
$80,266,207
Dry Goods
289,647,174|
General Merchandise
Total 21 weeks
1
-
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Ma}r 25 and from Jan. 1 to date.
WEEK.
EXPORTS FROM NEW YORK FOR THE
$12,187,243
249,124,221
$9,758,632
249,318,942
For the week
Previously reported
1904.
1905.
1906.
1907.
$0,856,111
194,759.611
$11,693,500
212,159,782
$259,077,574 $261,311,464 $223,853,282 $201,615,722
Total 21 weeks.
i
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 1907, and for the corresponding periods in
190(3 and 1905:
EXPORTS
AND
IMPORTS OF SPECIE AT
NEW YORK.
Imports.
Exports.
Gold,
Banks.—The following is the
non-meinber banks for the
May 25 1900, based on average daily results.
We omit two
Circu¬
lation.
213,126.3 75,766,3 1106,183,3 50.069,3 1,577.474,8
212.SS4.5 74,090,1 1120,599,9 50,120.3 1,838.644,7
212,484,8 72.106,2 1104.419,1 50,181.5 1,644,241,6
215,060,2 72,937,7 1106,100,9 50.440,4 1,613.334,9
1126,389,5 221.189.6 72,659.4 1112,640,5 50,659,6 1,656,086,1
Week.
Reports of Non-Member
a
1
a
-
statement of condition of the
Deposits,
Surplus.
Included, $31,G6S,900.
Total of United States deposits
ciphers (00) in all these figures.
Boston.
srve
2.9S7.4
2,908,8
1,557,6
2,050,0
2,000,0
3,000,0
1.500,0
City
Chemical
Loans.
S
$
2,000,0
Bank of N. Y-.
Manhattan Co.
Merchants’
Mechanics’
America
Phenix
ciphers (00) in all cases.
Surplus.
Capital.
Banks
00s omitted.
1287
THE CHRONICLE
1907.]
ciphers (00) in all cases.
Since Jan. 1
ITccA:.
Since Jan. I
1 $2,540,353
331,087
j1
$3,600
Great Britain
France
1.155,297
Germany
$4,666
West Indies
Mexico'
250
South America
All other countries
396,3So
7,000
1,460,711
$6,703;
2,902|
127,097
60.288
9,913;
1.093,127
162,571
l
Deposit with
| Legal
Banks.
Sur-
j Cap i-
plus.
to/.
Tender
Loans
and
Invest-
Specie.\
•
ments.
"
f
S
j
ing
Agent.
etc.
t
174.7
Century
200,0
154,0
1,289,0
Chelsea Exch
Colonial
Columbia
Consol. Nat.
100,0
100,0
103,7
427.S
1,241,9
4,349,7
Fidelity
Hamilton
Jefferson
Mt,. Morris..
Mutual
19th Ward-.
Plaza
Riverside
12th Ward-23rd Ward-.
Union Exch.
Yorkville
Coal & I.Nat.
34th St. Nat.
Batt.Pk.Nat.
442.3
300,0
1,000,0 1,123,4
14-4,4
200,0
243,3
200,0
500.0
6 42,7
■250,0
200,0
300.0
100,0
100,0,
200,0
100,0
750.0
100,0
500,0
200,0
200,0
219,5
286,5
460,7
342,9
101,1
211,3
174.6
839,6i
384,7
583,8
210,9
121.5
S
!
15,1
27,8
87,3
90,5
S
;
944,9
S
100.0
324,0
6,343,0
6,153,6
814, Si
10,5
279,1
9,6
123,9
1,018,3
4,951,0
4,415,6
2,493,9
3.527.7,
19,6
28,4
213,0
18,0
3,974,6:
3,SO 1,0
2,085,8
2,584,0
1.732,1!
Borough
..
..
Mechanics'
Nassau Nat
National City
North Side..
.
.
472,2
250,8;
47,9
4,910,0;
724.0,
387,61
200,0
12,7
300,3
143,3!
1,373,2
SIS.4
156.3'
3.309.3
150,0
300.0
252,0
405,4
152,8
2,695,7!
1.985,5
7 IS,5
4,522,5i
100,0
j
Jersey City,
First Nat
Hud. Go.Nat.
Third Nat...
.
Hoboken,
First Nat
Second Nat
.
896.5 11,830,1 j
5.912.01
946,9
625.0
3,293,0
1,686,2!
212,5
750,0
300,0
400,0
250,0
200,0
1,162,7
713.9
349,7 i
4,074,7'
2,551.2!
1,793.6
.
125,0'
580.5
193,2
2,510,7
1,795,11
.
58.1
127,3
316,3
220,6
.
-
-
-
521,0
144,0
58,4
3.5
16,6
150,4
54. S
812,4
3,622,8
2,932,0
4.838,6
13,420,4
s!
181.8]
192,5!
90,0
3G7.6
156,4
113,3
34,5
112,8;
666,41
483,0!
674,4
206,3
978,3
159,6
SI .250
352,600
76,000
Total 1907
Total 1906-.Total 1905.
Silver.
Great Britain
France
-
$1,867,096
5,293,122
32.761,546
$19,518; $5,469,820
2,318.579,
93.220!
373.01
72.2,
111,2
i
31,9
47,0;
s!
5.505,7,
43,818.778
5,215,850
$2,259
$737,308 $15,404,158
701,000
158
17.828
West Indies
Mexico
South America
All other countries
46,037
303,656
30
85,256
6,622
—
COO
4,786
$755,136 $16,202,355
1,154.436 23.003,820
776.099 12,938,888
Total 1907
Total 1906
Total 1905
361,483
6,962
68
$6,720,
50,141!
55.33 L,
$720,555
986,323
1.392,006
Of the above imports for the week in 1907, §5,310 were
American gold coin and §30 American silver coin.
Of
the exports during the same time $4,250 were American
gold coin and $10,000 were American silver coin.
2iitnldufs and £ inane ial.
pleased to mail investors copies ofotir 10-page
describing 5T Short-Term Note* and Collateral
We shall be
26,5j 123,ljj
lSG.lj 269,9!
125.0
61,7
2,128,2
2,884,0
1.975,7
8.475,3
4.084,2
4,792.0
1,466,0
742.8
133,6
60.0
9.0
229.3
315.2
101,7
57,7'
1,549,2
5.128,3
6,733,0
4,714,3
959,8
5,729,9
4,293,9
3,121,0
3,574,1
4.802.4
4,654,0
212,2
530,0
156.4
106,9
42.7,
44,
13,7
126,5
426.8
238,7
241,0
128.0
1,539,0
1,285,0
135,0
2,330,2
5.SS9.0
3,851,0
2,009,8
503,0
43.8
392,6
1,956,6
164,2
365,5
480,0
137,8
26,0
2,003,6
161,6
184,7
99.9
2,253,5
1,895,0
91,0
i
circular
Trust
Bonds.
Spencer Trask & Co.
ranch Office,
Aibany,N.Y.
William and Pine Sta.. New York
5,420,1
1,965,1
5,631,6 6.556,0; 14,109.9 3.999,1 126584,2
9,947,0 14507.3 117951,
127781.9
9,847,0 14307,3 118933,5 5,381.71 6,580,5 14,091,9 3.900,7
G.350.7 15,171.6 3,655,6 130957.4
May 25.
May 18.
May 11. 9,847,0 14307,3 121070,S
S
104,8
104,4
97,2
524,6
412.0
264.5
81,8
185,1
251,4
456,4
231,3
1,056.7
986,0
99,1
204,0
92,2
S
806,0
S
1
!
220.0
164,0
120.hr
227,0!
174 .S’
3,442,4!
200,0
1,000,0
334,7j
33,0
6s, l!
|
Brooklyn.
$
51.9
74.1
46,6.
333,6
296,0
75,1
61,8
228,3
292,3
135,7.
286,3
8,542,1]
Borough of
Tot.
Tot.
Tot.
i
j
Net
Other
Banks, Depos s.
Germany
Man.&Br’x.
Wash. H’g’ts
Mfrs.’ Nat
Bank
Notes.
1
N, Y, City,
Boroughs of
Broadway
Brooklyn
and
!
Clear-
Moffat
&
White
Members New York Htock Exchange.
5 NASSAU
STREET.
HANOVER BANK BUILDING
Dealers in Investment Securities.
CASH ONLY
COMMISSION ORDERS EXECUTED FOR
[VOL. LXXXIV
THE CHRONICLE.
1288
The market, for railway and
some\yhat more active, although
is still much below the average.
industrial bonds has been
the aggregate transactions
Prices have generally been
Dividends see page 1286.
steady, the sharp declines so frequent of late not appearing
in the active list.
Wall Street, Friday Night, May 31 1907.
Consolidated Gas convertible 6s covered a range of 9 points,
The Money Market and Financial Situation.—The liquidat¬ closing .with a net loss of only 1.
Where other net declines
ing movement in securities noted last week continued prac¬ have been recorded, they are only fractional; and are about
tically without interruption, and regardless of prices, until offset by advances in other issues.
Wednesday. Following this, the market has presented a
United States Bonds.—Sales of Government bonds at the
holiday appearance.
On Wednesday traders on the short Board are limited to $21,000 2s, coup. 1930, at 104% to
side, foreseeing the possibilities of four days during more than 105, and $5,500 3s; coup., 1908-18, at 102 to 102%.
half of which the Stock Exchange would be closed, were active The following are the daily closing quotations; for yearly
in covering their contracts, and purchases of-this character,
range see third page following.
in addition to other buying, were sufficient to cause a sub¬
May
May
May
May
M
May
stantial recovery from the previous low prices.
Similar con¬
30
31
29
28
27
25
j
Periods
ditions have prevailed to-day, and perhaps there is a little
*104%
*104% *104% *104%
registeredjQ—Jan *104%
hopeful feeling. However that may be, the volume of 2s, 1930
104%
*104% *104% *104% *104%
Jan
2s, 1930
.couponiQ—
*102
*102
business is relatively small and it is quite possible that the
*102
*102
*102
3s, 1908-1918
registered! Q— Feb *102
102% 102% *102
recovery noted is a perfectly natural reaction from the low
3s, 1908-1918
coupon iQ—Feb
*101% *101% *101% Holi- *101%
1908-1918-.small coupon'Q—Feb 1*101% *101% *101% *101% day. *101
level to which prices had fallen.
Moreover, there is abund¬ 3s,
4s, 1907
registered :Q—Jan *101% *101% *101% *101%
**101
ant evidence that the market continues to be, as for some
1907
coupon Q—Jan *101% *129
*129
*129
*129
*129
IBanhers7
For
'
Interest
ay
„
,
more
...
*102
..
largely a “traders' market."
Crop news has ceased, for the moment at least, 10 have an
unfavorable influence, and the engagement of $3,310,000
gold for export, the first shipment made since the final pay¬
ment on account of the Panama Canal purchase, just two
years ago, has attracted much less attention than such a
movement sometimes dot s.
There is no noteworthy change in money market conditions.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from \\i to 2*^%.
To-day's rates on call were 1%@2^%.
time past,
4s,
4s, 1925
-
registered Q—Feb
4s, 1925
2s, 1936. Panama
coupon, Q—Feb
Canal regisiQ—Nov
*129
*104
*129
*104
*129
*104
*129
*129
*104%
*104%
his is the price bid at the morning board; no sale was made
Railroad and Miscellaneous Stocks.—Stock market
continued to decline until near the close on Monday, at
time the low level of the week was, in most eases,
And while this level was generally from 2 to 5 points
than at the close last Week, it was, with few exceptions,
above the low record of March.
The exceptions in
* i
values
which
reached.
lower
well
this par¬
ticular were New York Central, Delaware & Hudson, Erie
and Great Northern, which established a new low record for
Prime commercial paper quoted at 5@5h£>% for endorse¬
the year.
ments and 5@5>4% for best single names.
The Bank of England weekly statement on Thursday
Reading has been the active feature, about 265,000 shares
showed an increase in bullion of £95,383, and the percentage having been traded in on Monday, and after selling down over
7 points has recovered about one-half the loss.
of reserve to liabilities was 46.82, against 4(5.83 last week.
Among other
The discount rate remains at 4% as fixed April 25.
The railway stocks that have been active and covered a wide range
Union Pacific, Canadian Pacific and Delaware & Hudson;
Bank of France shows an increase of 16,125,000 francs in
the latter declined over 10 points and was then lower than at
gold and 3,675,000 francs in silver.
YORK CITY CLEARING-HOUSE BANKS,
It closes 2% points above the lowest.
any time since 1904.
Consolidated Gas and the copper stocks have been notably
Difjirences
weak.
The former declined about 11 points on the bringing
pom
May 27.
May 26.
previous
week.
of
action to have its charter declared void, a large part of
May 25.
which it has recovered.
When at the lowest, Amalgamated
S
115,972,700
117,472,700
129,100,000
Copper
had
lost
nearly
6
points,
Smelting & Refining over 6
Capital
137,656,500
149,236.400
160,414,500
and Anaconda Mining nearly 5.
Steel common sold at the
Surplus
1,111,003.400
800
1,049,390
1,580,800
and discounts.. 1,126.389,500
45,835,700
49,834,900
lowest
219,200
figure*
of
the
year
but
has
partially
recovered.
50,659,600
Circulation
6,539,600 1,032,731,800 1,155,120,200
al,112,640,500
For daily volume of business see page 1298.
deposits
214,622,800
180,981,000
6,129,400
221,189,600
Specie
85,625,300
The following sales have occurred this week of shares not
S3,896,100
278,300
72,659,400
tenders
represented in our detailed list on the pages which follow:
300,248,100
264,877,100
5,851,100
293,849,000
held
are
NEW
1907.
1906.
1905.
$
$
an
S
Inc.
Inc.
Inc.
Ine.
Dee.
Loans
Net
Legal
Inc.
Reserve
25% of deposits
278,160.125 Inc.
1,634,900
258,182,950
288,782,300
15,688,8751 Inc.
1
4,216.200
6,694,150|1
11,465.800
Surplus reserve
$31,657,000 last week and
United
States deposits
25 and $19,386,925
a $31.668,WO United States deposits included, against
$18,418,200 the corresponding week of 1906. With these
eliminated, the surplus reserve would be $23,606,100 on May
on
May 18.
Note.—Returns
of separate banks appear on
the preceding page.
strong this
by only a
moderate supply of bankets’ bills and by some speculative
manipulation. Gold exports to Paris, $3,310,434.
To-day's (Friday's) nominal rates for sterling exchange
4 8432 for sixty day and 4 8734 for sight.
To-day's
(Friday's) actual rates for sterling exchange were 4 8370(a)
4 8380 for long, 4 8675@4 8685 for short and 4 8725@,4 8735
for cable s.
Commercial on banks 4 8335@4 8345 and docu¬
ments for payment 4 82^@4 83;}|.
Cotton for payment
4 825g(fF4 82^4, cotton for acceptance 4 8335@4 8345 and
grain for payment, 4
83
To-day’s (Friday’s) actual rates for Paris bankers’ francs
5 19:i8@,5
for long and 5 1634>/@5 161 i for short.
Germany bankeis’ marks were 9-1 9-16(5 94for long and
115 3-165(5 95 3-16 for short.
Paris exchange on London to-day 25f. 13L>t\; week’s range*,
Foreign Exchange.—The market was generally
week, influenced by a demand for remittance,
were
were
low.
25f. 133/oc. high and 25f. 12!'2c.
The week's range* for exchange*
•
t£
Sterling, Actual—
High
4 8370
(Tv
4 8380 ! 4
Low
4-8340
ft
4 834514
Paris Bankers' Francs—
High
5 19% a
ft 5 18%a|5
Low
5 19%
ft 5 18%a|5
.
a
1-16 of 1%.
k 1-16 of 1%.
d 1-32 of
x
4 8685 i 4
4 8675 14
ft
16%
16%d
ft
ft.
5 15 Ha\
5 16% !
(a?
ft
95 %
!
95 3-16i
ft
40.31 I
ft>
40% |
3-16
3-1 (3d
140.29
|40 1-16
High...
Less:
Plus:
(a)
S6S0
8670
Germany Bankers’ Marks—
High
94 9-16
ft, 94 11-16195
Low
94 9-16
ft 94%
195
Amsterdam Bankers’ Guilders—
ow
rates follows:
—Short—
-Long-
1%.
1-32 of 1%.
—Gables-
8730
8720
4 8740
4 8725
ft
ft
h 3-32 of l %.
3-32 of 1 %.
domestic exchange on New
The following were the rates for
York at the undermentioned cities to-day:
50e. per $1,000 discount;
per
Charleston selling, $1 per $1000 premium.
bank, 10c. per $1,000 premium;
discount.
Chicago, 25c. per $1,000
55c. per SI.000 premium.
Savannah buying,
$1,000 premium.
New Orleans
commercial, 20c. per $1,000
premium. St. Louis,
San Francisco. 10c. per $1,000
premium.
State and
Railroad Bonds.—Sales of
Board include $25,000
955%$ and
20 to 271 i.
State bonds at the
951-2 to
deferred trust receipts at
Tennessee settlement 3s at
$234,000 Virginia (is
.
31.
Range ]or
far
Week.
Highest.
Lowest.
Balaklala Copper
1 .250 8% May
May
700 10
Bethlehem Steel Corp
;
100 81
May
Buff Rochester & Fitts..
500 25C. MayComstock Tunnel
3
May
200
Detroit South'll tr rects.
100 64
May
< ieneral Chemical
l%May
General Electric rights. . IS .524
Gt Northern subscripts
etfs, 45% paid
1 ,342 116% May
56 67
May
Ilomestake Mining
100
7% May
Keokuk & Des Moines..
100
4
MayOntario Silver Mining...
100168
May
Pitts Ft Wayne & Chic..
week.
9% May 27
101.1 May 27
May 27
81
31 26e. May" 28
27
3
May 27
27 64
May 27
27
2
May 25
28
27
27
Range since Jon. 1.
Lowest.
.
Highest
8% May 9% May
May 20% Jan
10
Jan
80
23c.
3
64
May 115
Mch 50c. Jan
Apr 3% Apr
May 75% Jan
May
1% May 2
27 116% May 130%
31 55% May 85
27
7% May 11
27
4
May 8%
31168
May 31 168
May 168
7s
31
Mch 1
31
May
%
7 6 May
27 120
May
31 70
May
27
7%May
27
4
May
100
Quicksilver Mining
St L & San Fran-Ch & E
.000
60
May 28 60 May 28
Ill new stock tr etfs .$10
7* May 25
% May 27
Southern Pacific rights.. 42 ,334
600 S2.40May 25 $2.40May 28
Standard Mining
Apr
Feb
Jan
Feb
May
Jau
Mch 71
Feb
1% May$2.40 Mch $3.70 Jan
60
% May
of business in unlisted securi¬
influenced by the movements on the Stock
Outside Market.—-The course
ties has been
in prices in the early
improved tone, values
generally recovering their previous losses. The copper shares
prominent. Boston Consolidated Copper dropped from
26 % to 25%, moved up again to 26% and receded finally to
25%. British Columbia Copper declined from 8% to 7%
Butte Coali¬
but recovered the loss, selling to-day at 8%.
tion sank from 25% to 23%, then advanced again, and to-day
reached 25%.
Greene Consolidated Copper sold down a
point to 21, advancing finally to 21%. Nevada Consoli¬
dated Copper from 14 declined to 13. subsequently advancing
to 13%.
United Copper common went down 2 points to
56% but recovered all the loss, the final transaction to-day
being at 58%. Giroux receded from 9% to 8%. Nipissing
leading feature by reason of its activity and strength,
the stock moving up from 11% to 13%, the close to-day
being at 12%. Montgomery Shoshone rose from 7% to 8%.
An active market for Chicago Subway and a material advance
in the price was the centre of attraction among the special¬
ties.
It moved up over 5 points—from 15% to 20%—but
down to-day to 18%.
Standard Oil from 523 dropped
to 514, advanced to 519 and ends the week at 518.
Central
Foundry preferred sold up from 12% to 14. Manhattan
Transit sank from 6% to 5%, recovered to 6% and closed
to-day at 5%. New York & Cuba Mail Steamship declined
from 26% to 25 but sold up again to 26.
Waterburv Com¬
pany common gained a point to 40
fell back to 39%, then
sold up to 40%.
Western Ice showed an appreciation of
Exchange, the depression and decline
part of the week being followed by an
were
was a
y
selling, 75c.
Sales
STOCKS.
Week (nding May
ran
4% points to
Outside
34%.
quotations will be
found on page 1298.
Exchange—Stock Record, Daily, Weekly and Yearly
New York Stock
TWO
OCCUPY INU
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Railroads
87*8
93*8 93U
92
95*2
9318 94*8
86
S334
88
93% 93%
96
97
94%
95*s
*86
53%
*85
64
48
82
*.___
171
*61
*175
87
61
61
63
180
93
c
94%
93*2
94*2 95*4
93*2 94%
86
86
50%
50
82
*__
*....
1673* 170
*61
*61
63
*12
;>o
9*2
73
50
133s 133,s
12714 128*4
155
111%
1307s 13 U2
9*2
10
*72
74
*72
*44
50
*44
13*2
123
150
107
128
*1012 1212
110
130
36% 3678
70
90
*65
*85
126*2 127l_
51% 54*2
4
15
65
105
22
60
36
70
93
*25
30
80
78
*
*75
83*2
J138M 138*8
1978 20
*53*4 54*4
*_.__
*181*
19
40
78
*39
*75
24%
59%
24
59*4
20
64
55
*16
*60
*45
112*8 11234
*.___
*75
164%
465
464*2 464%
2434 25%
72
§72
25*2
71
70
10%
*66
11
20
*18
*25
30
80
78
2334
5S34
57%
*16
*60
*45
109
20
64
55
112
135
85*4
19*2
93% 93*4
125*8 125%
30*4 32
6234 62%
71*2 73%
_
►
_
._._
110
*37*2
63*2
74*4
130
52
*120
22
111
*
40%
► 105
115
*72
80
*_
-
123
109
*
*
98
102
103
*80
78
95
*20
77*2
111
►
-
__
*82
90
126*2
30*4
62
71%
120
_
115
SO
170
*92
*92
*92
*94
*92
*96
67
*90
68
95
96*8 101%
66.
94
67
94
96*4
99*4
80
*75
82
781"
18%
42
*61
29*2
19
50
21
56
30
19
1934
'*48
50
19
17
18%
53*8
25%
25%
25
58
25*"
105
108*2
*25
27
110
2812 28*2
5134
91%
136*1 1383s
91% 91**
50
51*4
91%
132
*87
53
*25
*100
Bid
America U__
Amer Exch.
BatteryPark
Bowery H
Butch’s&Dr
Century!!
Chatham
Chels’aExc !'
18%
42%
62
31
19
52*"
26
105
27
13 534
90
*87
Ask
220
530
235
130
330
170
*
__
22
*
109*s 111%. N Y Central A Hudson
38*2 40*4 |N Y Chic & St Louis
115
Do lstprel
*107
74
77*2!
Do 2d pref
165
165
N Y N Haven A Hartford..
32*2 33*4 N Y Ontario A Western
17238 721o Norfolk A Western
Do
*75
85
adjustment pref
123*4 125*4 Northern Pacific
Do
subscrip rccts
110*4 111
98
102
102
*94
*92
*94
72*2 Pittsb Cln Chic to St L
9934 102
19%
44%
19*2 20
*43*2 45
09
31
*01%
_
Fxch
y
Discount !i_
East River.
Fidelity 1j.
67
31
31
*19
21
53
*49* o
Bid
Ask
390
140
248
230
700
500
U67
155
230
285
150
150
195
400
150
25£
245
525
tl70
160
240
295
160
160
205
927s Jan
Alayl3
May27
AIay22
May27
May2e
108*" Jan
227*2 Jan
Alch 26
510
69*2 Jan
58*2 Jan
67
Jan
92
Apr
5
18934 Jan
2
Jan
5
May27
85
49*2 AIay27
47
94
172
39
18*2 Mayl8
May2S
51
18
51
SO
30*8 Alch 2 5
74
Mch 20
18
Alch 14
45
Mch 25
19*4 Alch 18
55
52
108
129
83
15
46
86
90
123
Apr
Alch26
Mch 14
Mch 22
Alch23
Mch 26
27
Alch25
Alch 26
110
§164*4 May29
313S May28
4.300
189
79
174
Ask
GermanAmT
German Ex!,
Germania !i_
Greenwich T
1 Hamilton
!H anover
!I.
140
420
500
285
2b0
490
__
630
300
195
360
525
150
_
9
483$ Jan
5
5
71
92*4Jan
SO
yOLJan 10
189*2 Jan
3,258
106*2 May2S
134
200
400
pref
9.925
630
Mch 15
124*8 Jan
95
114
66
Mch 20
Mchl4
125
91
80
810
300
68,595
6,210
16,313
9.925
1.500
640
78
Mch 14
May24
77*2 May24
17% Mch2G
4 034 Mch20
Alch 18
Mch25
Alch 19
79
45
Jan
Jan
Alch 14
Mch28
Mch 8
“ Alay
May
Oct
Oct
J’ly
Apr
2278 Jan
38*s May
7434 Dec
5078 Jan
68
80
C178
45
“ Dec
7034
81*2
lis.i
33*8
77*4
Jan
Jau
76% Jan
76 Jau
83
Aug
Feb
Dec
92*" Jan
23*2 Jan
53 " Aug
9734 May
J’ly
Dec
94
348
85
Dec
Nov
Oct
Jan
Jan
U9;*8 Jne
92*2 NovMay 184*2 J’ne
55% May
33% J ’nc
87% May
703s J ’ly
24
J’ly
3434 Jan
48
J’ly
6334 Jan
77
Oct
84*2 Feb
2278 J’ly 37% Jan
iy
71
Jan
J’ly
44% Jan
27*2 J’ly
75 " Sep
§92*» Jail
S134 Jau
61*4 Oct
136*4 May 1561-Jan
162
Jan
140
Sep
Jau
127
103
J’ly
29*2
Dec
183g May
84*4 Jan
58*2 Dec
99
Apr
109*4 Jan
164
Aleh
134
Dec
18334 Jau
163*2 Apr
29
43% N ov
May
76
Nov
64*4 Apr
85*2 Alay 10634 Jan
133
May 149*2 Jan
36
Apr
5934 Dec
30
Dec
18*4 J’nc
126
Nov
156*4 Jau
59
Mch
73*2 Apr
111
Apr
12978 Jan
80
92
Dec
May189 *2 Dec20478 Jau
57*4
Jan
4334 May
84
Feb
97% Oct
96
Jail
89*2 Apr
179*4 May 232*2 Feb
164
193
105
Jail
Jan
I
5
7
62*2 Feb 15
96*4 Jail 14
118*8 Jan 14
34
Jan 5
94*" Jan
37*g Jan
Jan
123
29 Jan
3334 Jan
5478 Apr 12
108% Jan 7
183
Jan 5
96
Afay 2
„
142
106
135
105*2 Jail
122% J’ly
J’ne
Jan
May
147*2 Jan
87
Jan
109
May 1164
96
Sep
102
Apr
Jan
Jau
Jan
May
May
75
1(H)
112
89
90
11
Aug
22*2 J’ly
60
J’ly
32% Nov
0984 Aug
Feb
7284 Apr
51*4 Feb
27% Jau
0338 Sep
97*2 Sop
120% J’ne
42% Jan
103 Jau
40*8 Oct
xl39% Jan
60
40*2 J’ly
20*2 May
4884 May
May
61
J’ly
31% Nov
93*2 Dec
28
May
Nov
121
25*4 Dec
25*4 J’ly
43
J’ly
102
Dec
138*2 May
91*2 May
116
Jan
40L Jan
36
59%
122*4
1953s
99*4
Jan
Jau
Sep
Jan
QUOTATIONS.
Ask
Banks.
Bid
Imp & Trad
Interboro !!_
Irving N Ex
Jefferson !I_.
Liberty
565
160
200
220
510
Metropolis f
390
160
240
.
5
"Jan
Bid
-
Jan 22
25*"Jan
550
150
185
200
-
8
483s Jan
Banks.
500
Lincoln
IKK)
Manhattan !! 295
Market&Ful 255
i Mechanics’
230
Mech&Tra !l 165
235
I Mercantile..
1 Alerch Exch 185
■Merchants’
157*2
Mch 8
30*8 Jan
64*2 Jan
45*4 Mch25
6934 Mch 14
109*4 May27
17
May 27
53
May28
2434 Mch25
101
24
7
195*2 Jan
139*8 Jan
92
94
29
18
7
14138 Jan
May 28
93*2 Alch 18
43
189
Jan
Feb 13
90
59
2*. 500
_
205
2 SO
505
7
Jan
45*915
COMPANIES—BROKERS’
4200
Jan 16
9134 Jan
Mch 14
Mch 14
114*4 Mch25
3.210
8734 Alch 14
120*4 Mch 14
8534 Apr 5
Bid
Feb 14
13434 ,j an 10
63%Jan 7
*750
._
5
Jail 15
Jail 24
May27
May28
1.850
50*8 50*81
Do pref vot tr ctfs
1.850
91*2 92 |Twin City Rapid Transit...
498.875
133*8 13534iT Tnlon Pacific
*87
90 I vJ
Do pref
Banks.
5
Feb 13
Jan 23
140*4 Jan 3
168 J an
44% Mch
7234 Jan
9234 J an
147
Jan
59;*s Jan
2334 Mch20
Fifth Avefl. 3900
Fifth
340
First
615
14 th Street T 225
Fourth
185
350
Gallatin
500
Garfield
9
59
90
'366
TRUST
67*->Jan
27% Jan
May28
59
8
145's Jan
146
107
May23
64
a
67*2 Apr 26
Alch 26
30*4
7
4
.Ian 7
Jan 19
2s*" Jau 12
2
Mch 14
Mch 26
Alch
Jail
Jan
Jan 23
3034Jan
6l34Jan
Alch13
Alch 2 5
Mch 25
May 2 9
Mch 14
73*8 Feb
59
Dec
23434 Nov
560
Alay
517s Jan
91*2 Jan
102
Feb
118
41
62% Apr
75*4 Jan
28% Jau
Mch 14
66*2 Apr
16
86*2 Jan
114
471-Mch
10978 Jau
32
Jan
Jau
89
Dec
no
J’ly
29** Jan
83
14*2 Jan 17
Mch 9
Apr 23
Apr 1
753s Mch 2 8
83*2 Mch2S
134
Mch26
30
72
Dec
797s Dec
39"Jan
44*4 Jan
75% Jan
Jan
Mch
Jan
1S*4 Jan
4234 Jan
1334 Feb
43734 May
36*8 May-
Jan 24
513s Apr 15
33*2 May28
109
35
109
Do pref
St L A San Fr, 1st pref
2d pref
Do
St Louis Southwestern
Do pref
_
42% J an 7
83% Jan 10
4
Nov
270
198
292
ii7s J’ly
80*8 Jan 16
19*2 Jan
Apr
175
240
37s May
May27
69% Mch25
65*4 Alch 15
934 Alch 14
19
May27
20
May28
90
123
Apr
Aug
J ’lie
25
387i$ Jan
24
61.860
1.800
693.900
Bid and asked prices; no sales were made on this clay,
t Ex-rlghts. § Less than 1 90 shares.
t Sale at Stock Exchange or at auction this week,
c Ex beneficial interest in ore properties,
h
Mch 26
48**4
203s
Rock Island Company
__
Jan
11*2 Mch 14
63
101
21
56
40
161
445
119
2G*» r|-,exas A Pacific
110 “ 1 bird Avenue (N. Y.)
Toledo Railways A Light..
27
28*8 Tol St L A W v tr ctfs
*26
*104
*25
*25
AND
5.100
470
100
76*2 77*2 Southern Pacific Co
Do pref
11034 111
Southern v tr cfs stamped
18*4 19
Do pref
57
do
58%
90
13,460
1,540
pref
Do
2d
107
27*"
450
122,165
Reading
1st pref
80
SO
26
3,805
Pacific
Co
Do Coast
1st pref
95
Columbia U_
Commerce.
Consolidat’d
380
1.665
Do 2d pref
;
*90
Colonial!!
649
73*4, Missouri Pacific
130
\l ash Chatt to St Louis
51 11* at of Mex, non-cum pref.
*65
Coal to Iron.
7.059
Manhattan Elevated
95
Citizens’ Ctrl
City
Corn
136
67%
Copper
350
315
Lons t«4**w*
Louwviae to Nashville
*93
Banks.
4*^90
2.210
pref
*65
*87
1,545
5.925
4.700
500
700
LakeDoEriepref
to Western
55
*120
19%
52*2
76%
110*8 111
17% 18%
5534 5634
90
Do
25
Jan
Jan
6*4 Apr
1938 Jan
8
100
pref
Do 2d pref
1196* 1207s Pennsylvania
26
*103
*25
36,855
14.930
ansaa
119*2 120%
55*2
29,570
3,175
2.120
KC Ft SCity
& M,Southern
tr cts pref._
65
73
.
75%
*16
*55
*45
77
251
•io‘4
60 <8
22
_
2% May 15
200
3.120
213
100
300
600
...
etropolltan Street
19*2 Mexican Central
Minneapolis to St Louis..__
*45*2 47
Do pref
*79*2 85
95*2 97*4 Minn St P & S S Marie
Do pref
129*-> 129%
31% 32*4 Mo Kansas to Texas
Do pref
63
63
98
102
102
*78
*75
19
44
*611"
30
19
*50
75
200
2,050
13,060
19*4
97% 100
SO
79*"
24*2
60*8
136
*85
123*2
108%110
*94
*92
*94
Do
39*4 39*4
*73
111*2112
28
28*2 *27
50*8 50*8
4934 .50*8
92
91
91
91%
132% 134's x131%135
51
‘
a
*27
New York.
210
515
225
120
320
160
190
300
300
200
w
122
Chemical
Aetna
2
Illinois Central
nterboro-Metropolitan
18%
Do pref
51*2
18*4 18*4 Iowa Central
18*2
o
115
BANKS
Banks:
«
68
§68
§164*4 165
32
32%
74
74%
109%110%
17*8 17%
*25%
28*"
90
74%
7334 7634
109% 110*2
7S%
111*4
27*2
1S%
42*4
*6134
1S34
43
69
301"
►—«
109-% 111
37*2 37*"
98
102
102
165
‘166
51
<
*1834
118% 11934
118*8 119*2
76
135% 135*2
122%
106*2 108*4
120
110
98
102
108
187g
3978
137
137
112
*
170
31% 32
74
73
122*"
52
t*
<
a
83
19
*45
47
47
87
*79% 85
92*"
91% 94
135
128
*125
31*8 32
31*4
61a4 62
62%
73
72% 7334
130
*120
130
51
52
»>«>
21
*--.-
SO
Alch25
Jan 18!
Mch28
AIch27
2478 Nov
192
225
16S
Feb
77*4 Oct
23% Jan
86*2 Jan
SO " Jau
39% J an
1993s Dec
218
Aug
Dec
70
934 Apr
Jan
Jan
Jan
87
201*2 Dec
707s Jan
2397s Alay
65% Aug
35»s Oct
79*2 Sep
9% Feb 21
"Jail
149
99*2 Jan
94*8 Jan
Dec
J’ne
70
16
1146*0 Dec
X160 Dec
141
125*8 Sep
May
51*2 Nov
25*8 Sep
14
5
14
15
19
19
8
19
157*2 Jan
165*2 Jail
Alch 25
160
5
9
1.100
83*2 Hocking Valley, pref
83
115
107*2
140
19
22
65
55
*16
*55
*45
110
19*4
*
33
83*2
5934 60%
90
*
*_
Do
2d pref
Evansville to Terre Haute..
Do pref
125U 127*2 Great Northern pref
Temp ctfS for ore prop
51*2 52*4
Green Bay to W. deb ctf A.
Do
deb ctf B.
30
*25
Do pref
*
80
85
Hocking Valley tr recta
*75
204
120
Havana Electric
24*2
24%
109*8 110%
35
38*2
109%
60*4
*.87
110%
13612
*..
18I8
105
109
134
90
19
+
58
*26
OKU
22
65
55
120
103%
18% 19%
45
§45
*0134 66
3034 3034
*50
*16
*65
*45
73*2 74*2
75
84
125
119% 12012
*68
72%
*90
102
30
80
78
*73
5934
42
_
*_.
110*2 110%
*94
*92
*96
30
'
*5838
Erie.
36
70
93
219*"Jan
200
16
25*4 2578 Denver to Rio Grande
75
Do pref
*6634 72 Detroit United
Duluth
So Shore to Atlantic
*10
12*2
Do pref
*18
22*2
21*g 2134
Do
1st pref
55*4 56*2
15538 May
Go's J **e
205
234
179
o’.soo
Hudson
Delaware
elaware tc
Lack
& Western
195*2 Jail 4
65%Jan 14!
18 Jail
79
Feb1 2a
7 In Feb 14
26 % Jan
5
May 2/
126*2 May2S
137*2 Alch25
100! 200
Apr 4
*68
12434 12534
51
464*2
35
*65
*88
145
107
•
Cleve Cm Chic & St L
Do pref
23 Colorado & Southern
Do 1st preferred
60
Do 2d preferred
41*4
Alch19
1677s Jan
Jan
83
56"Jan
27*2 Jan
09 " Jan
9*2 May27
73
May 6
44% May24
1212 May23
122*2 Mch 25
1,500
44,970
1,100
4,428
6,126
11,650
68
105
*450
70
93
*75
76
24
*
130
51
'22
165*2 165*2 *164
32
33*2 33%
75
55
34*2
*..
*73
23**»
*
47
87
*S2
87
98
132
125
32% 32*o
*120
.
5434
59
lo'.tioo
7
8
8534 Feb
106
131*8 J’ly
10534 May
91
Oct
71
J’ly
94*2 Jail 10
Feb 16
Aleh 23
Alch14
Alch25
Dec
*98
5
N3*\s Jan
31*4 May27
11*2 May20
13.050
800
Chic St P Allnn tc Omaha..
Do pref
41*4
163*4 166*1
2034 21%
50
200
575
Chicago Terminal Transfer.
Do pref
334 Chicago Union Traction
Do pref
15*2
*57
34
43*365
10
20
22*4
83
155
60
165
Jan
122
110*2 Sep
Jail
S53s May
7
101% Jan 12
133*8Jan 5
Mch25
May27
90*s Meh25
86
May24
45*4 Atoll 14
38,280
Central of New Jersey
130
180
*2*4
71
11
22
*66
*88
125*4
51*8
78
*74
23
*96
74
*13
*63
*95
83*2
8312 *80
134*2 136 *133*4 134 *133*4
1S34
18*2 19*2
18*4 19*2
51
51
52*4
51*2 53‘
*18
19
*18
19
18*2
*39
40
39*2
*38*2 40
137
95
§63*2
14%
163
*75
*80
*82
•
*125
*150
*6
*15
*41
123
'50
*
*-...
§135
85*4
19%
19% 195s
*45
*45*2 47%
*133
*85
30
80
77
*25
130
180
10
15
3**>
*2%
41%
167%
834
*
219%
64
105
22
60
42
70
93
12534
49*2 51
147
14*2
*65
*88
123
12934
63
*95
21
*58
Pacific
CCanadian
Canada Southern
Chesapeake & Ohio
16
*13
Chicago & Alton RR
*
Do pref
54
Chicago Great Western
934 10
Do 4% debentures
73
*72
Do 5% pref “A"
*44
52
Do 4% pref “B”
*14
16
126*2 12778 Chicago Alilw cc St Paul
Do
*150
155
pref
Do com ctlte 10% paid..
§109 109
Do pref ctfs 10% paid..
130
131*4
144*4 147*2 Chicago <Sc North Western,.
Do
205
205
pref
151
111
151
108
128
145
*200
*125
*150
*5
15
63
175
5,080
19,150
137
3434 35
13% i:i34
12434 1 27*2
20%
5334 54*2
33*2 34
20*8 21
53*4 53*2
35
*65
♦88
180
10
20
19
20
20
19
22%
21*g 22%
5312 54
220
124
*6634
10*2
*6634 69
*1012 11*2
*19
*44
Baltimore
& Ohio
Do
pref
92
92
1,400
H ighesi.
Loucsi
10S*4Jan
82% Mchl4
48.300
Yjl
52*4 Brooklyn Rapid Transit
Buffalo & Susque, pief_.__
75
*61
174
10
73
50
*72
88
167*4 169%
55
10
95*2
►
63
*
13*2 14
123*2 12534
150*2 150%
107
109*2
126*2 129
146s4 147*>
14
12634
451*2
149
149*4 14578 14812
*205
219% *200 220 *200
124
*128
135
*128
135
*150
180
*150
*150
180
*5
*5
10
10
*5
*15
*15
20
*15
20
*3
*2L
3*"
*2*4
4
15
*12“ 14% *13
*13*2
*62
66
65
65*4 *63
*95
*95
105
105
*95
21
22
21*4
2134
223g
*57
60
60
§60
*58
40
42
*41
44
4134
17212 172*2 I66I4 171*4 161
*450
450
450
*460 465
24
24
*24
26
2434
*68
*68
75
71
71
67*2 67*2
55
10
73
50
*
58
*__.-
103S
10
*72
*44
94*4
*86
51
86
51
82
16434 168*2
93
96
A tch Topeka & Santa Fe__
Do
93
pref
Coast Line HR
Atlantic
97*2
S8&8 8934
§175 175 *170 ISO
§175 175
32% 3338
33% 35*2
31*4 3378
3434
13
13
13% 14
16
1212 12*2
34%
*4.52
*110
82
170
93
8734 89*4
92% 92%
*85
00
5234
164
88*s
9.
86
*
171%
86
Range lor Previous
Year (1906).
Sales 0/
Range tor Year 1907
On basis 01
the
100-share tots.
Week
H ighcsi.
Loucsi
Shares
STOCK
EXCHANGE
NEW YORK
Friday
May 31
Thursday
May 30
Wednesday
May 29
Tuesday
May 28
Monday
May 27
Saturday
May 25
PAUK*
-
310
265
240
170
245
195
105
Metropoll’nTI
-
Mt Morris!!.
Mutual !j
Nassau It
195
New Amster 190
New York Co 1200
New York.. 290
N'kt tc Day!! 400
19th Ward !! 300
North Amer 265
172
'Northern
iOrlental !f_.
!f State banks
1st instal’mt paid.
265
Banks.
Ask
Pacific
Park
168'
!!
People’s !!__
Phe'nix
Plaza !!._..
300
200
200
....
Prod Exch !
Riverside !i_
Seaboard
305
410
Second
State
34th Street.
12th Wt-ird y
....
1*2
j
!
275
i|23d Ward!!.
270
Bid
Ask
230
430
300
155
570
160
250
350
700
350
220
450
190
250
445
165
-
-
-
-
175
260
370
m
m
— m
....
b New stock
n
Sold at
private sale at this price
New York Stock Record—Concluded—Page 2
1290
Saturday
May 25
M otiday
!Tuesday
Wednesda.,
May 27
May 28
May 29
*20
*47
26
48
12
29
29
481g
12%
48%
26
48
12123
11%
2178 22*4
23
*10
*22
*37
40
10
♦22
13
*16
37
*286
*10
*26
297
285
11
27
*9
*26
11
25
16
*14
16%
16i8
*75
*1B4
*____
*1114
bi«
§54% 54135i2 36
*98% 99
5312
3434
n30
*35
297^ *280
9J2
*9
*26
27
III4
113S
53
29128l2 2S34
90
*88
90
90
*88
*200
215
*200
215
215
516
512
534
*534
534
4
4
4
4
*41 4-3J
*18
1934
1738 19
2012 20i2
*69
72
*70
73
71li 71110
10
14
11
12
*12
30
24
2534 *09.
*2534 30
5512 56*55t2 58
5734 58i4
106
105U 1051- *102
107
*105
*4
5
*4
5
*4
434
*18
*25
30
30
193,
*25
91
91
*88
92
*88
*89
115
116% 118% 111*4 1151- 112
104% 1051s
10414 105
107
107
240
*195
*195
240
*195
240
*90
102
*90
102
102
*90
*6
616
6
0*s
§6%
35
35
35
37
*35
§35
121
121% 122
12178 120 1211124
124
124
*122
127
124
*1191- 120
123
*121
*121
123
91
91192
92
91
913.,
2 512 25%
24lS 2478
24is 25*8
901- 91
91
913,
*9112 9212
55
57
57*8
59l8
5934 00%
8
8I4
8I4
812
812
8%
115
112
112
*110
120
*110
12
12
*9112
*10
*912
42
*40
4U- *40
41l2 *40
22
21
2112 22*8
2214 22192
911- 92
92
*9212 941-
*88
*203
2712 28*4
21l2 22l2
24
*23
120% 123
17%
*72
64
17%
75
64
Ids
72
6312
27l2
28l2
221a
221a
*1134
*5d2
31
*90
*163
40
*91
§25
*8412
54l8
1134
1212
92l2
166
40
94
25
85
54's
37
*70
3312
37I4
79
331=
*S0l s 82
100
*96
60
*57
-1410
*45
§38l2
99
70
321-
97*8
9714
97%
195
102
*90
616135
§35
1203a ]2H125
*122
§119 119
§195
36
*70
6
371,
105
*912
31
82
*96
3134
1412
50
381-
79
9112
2814 291-
221s 223s
1153a 1181-
82
100
72
63
140
*82
88
1361-138
§95
43
24
80
*43
*22
Bid
Union Exc H
U S Ex eh U_
WashH’htsU
West
SIde]IU_
Yorkvllle
97
15
15
103
68
*23
107
68
111*50
31
*ss
Broadway^!.
..
6712
25
*221-
S934
Jl7s
89l4
*ll5s
54
*50
84%
54
95
39*2
♦91
361-
3rt7o
71
71
68
25*2514
2412
10312
*142
Ask
132%
600
425
Banks.
4414 4414
35*4 3512
99
993S
First
Home
*62
*275
Manufactrs’
Mechanics’ 11
400
315
Montauk
Nassau
Nat City
North Side H
155
Terminal..1]
2G0
305
360
150
AND
Ask
400
175
Westlngh’se El & Mfgassen.
I)o
1st pref
TRUST
Trust Cos/
Bowl’g Gr’n
BroadwayTr
Columbia
Commercial
Commonw’h
_.
2 SO
—
_
165’
140
....
Empire
Equ’ltableTr
Farm Lo&T
Jan
93% Jaa
26% Jan
53nx Feb
2134 £eb
48% Feb
29% Feb
33
64
J an
Jan
Mch 5
Mch25
Mch25
Mch 26
2,350
9,668
20
Mch 14
15l8
71i2
2,784
714
61
136
5,829
_
80
300
135*2
2,900
120
7
20
1103,
10*8
5.400
851
700
79
49
97
Med* 28
Mch 2 5
May 29
515
May2i
5,355
’93
2,000
1.300
4,800
65
21185
11149
30
86
150
39
90
22178
42
95
130
1,000
-
-
2.100
100
2,150
1.495
2,292
May27
May20
Mch 2 5
Mch 14
May29
Mch i5
Mi‘»26
Mciijo
Mch 14
Me *26
Mch 23
Mch -o
41
100
2 710
2,910
825
1.800
900
....
50*8
30i4
Me}125
Mch25
74
AIch‘>(5
§95
May28
58
1212
May2.j
MaV27
40
35%
98168
MayT27
Maysi
7
7
3138
May27
91%
524
Mch 25
Jail 7
491-Jan 5
89
Jan 15
§117 Jan 9
901-Jan 4
30% Jan 28
Jan 7
68
521- Feb 16
Mch 25
78% Jan
50% Jail
10734 Jan
$391- Mch
39% Jan
Mch25
'231- May’29
101
Mch 2 5 108
97
Mch 25
55
250
May 7 §290
85
7g
May29
142
§145
7
7
7
7
4
7
151
Jan 9
Jan 22
Jan 26
Jan 10
Jan 2
Apr 26 §160
May23
May28
10134 Jan
J’ly
174
130
220
100
Dec
107
Jan
Jan
Jan
J an
15% Jan
53% Jan
157 Jan
140
Jan
130
96
28
J’ly 144%
109
J’ly
Jan
48
Jan
101
J’iy
Nov
_
_
Jan
110% Jan
300
Feb
178
Jan
_
161- Sep
Feb 11
109% Jan
--
-
Dec
Apr
33% Dec
9834 Dec
40% May
61
May27
78i-Jan
112
200
40
Mch 14
7?34 Jan 7
May'29 107 Jan 11
162
Jan 4
Mch
26
100
1 400 £34% Mch26 $531- Mch 1
Mch 26
85 “Jan 17
68
~'ioo
51- Apr 13
200
8*s Jan 15
200
Jan
Jan
120% Jan
17
May
130% Apr
18% J’ly
74I0 May
51
Jan
13
13S Jan
16
91
J’ly
14
22 H56 Dec
13
Jan
Jan
1134 Jan
5334 May
108% Dec
13% J’ly
99% Jail 24
ISl'x Jan 8
57% Jan 10
9912 Feb 15
Mc,h 2 5
Jan
Aug
94% Sep
29% Jan
53% Jan
1051- Nov
4
5034 Jan 15
41
Jan 7
81
Jan 14
75I4 Jan 24
71 ’ Jan 24
86*4 Jan 15
117% Mch 6
15% Jan 5
Feb 15,
87
7614 Jan 7
103
Jan 5
$203, Apr 18
14li-Jan 7
893., Jan 4
4ii2.Jan 5
98% Jan 4
16% Jan 15
60% Jan 4
Jan 10
57
May3i
May’28
95
272
35% Jan
1634 Dec
35
Dee
_
May28
Mch 14
May2i
23
May 22
70
*621- Men 15
*63 "Mch 15
May27
74
Jan
44% Jan
10
43
223% May
Jan
Jan
Jan
152 Feb
77g May 2
24 ~ Apr 25
18l2 Jan 7
40
105
51- Nov
24
Nov
May
1271- May
1281- Dec
May 1
Feb
Dec
Apr
40
5
7
5
81
47% Jan
934 Nov
78
163
97
163
May27
May22
32% J’iy
98% J’ly
28
May
92% Dec
138% May
May28
May28
May27
Jan
Jan
-
14014 Mch 1
2434Jau 22
88
Jan 28
Mch28
Mayi3
102
35
-
3
Feb 15
102
Feb 8
57% Jan 8
2838 Apr 5
May27
May 15
Mch 15
Jan
89% Jan
7% May
40
5
J’ly
Dec
67
118% Feb
34% Jan
82'8 Oct
90
215
9834 Jan
l4ioJan
491.x Jan
Mch 15
lli4
70i8
100
800
900
200
12
2
4
125
J *ly
-
361-Jan
102% Jan
30234 Feb 16
$9% May 13
May21
Mch
10
14
Jan
Jan
133
Aug
27% Jan
11
90
247
Mch 26
HO
21
3378 Feb 19
131
J’ly
Sep
80
48
Dec
28
7a
Sep
Jan
Jan
62
May
2134 Apr
70
May
49%
107%
83°8
30%
18134
Jan
Jan
Jan
28
Apr
Nov
Jan
85% Apr
74% Sep
199 Jan
112% Jan
184
Oct
26% Jan
90
*95
60
92
Jail
Jan
May
May
_
113% Jan
12
May
82
Sep
66
May
100% J'ne
•133
J’ly
871- Nov
2S% J’ne
J’ly
13% May
J’ly
50
88
43
95
180
44
May
May
Dec
May
_
_
_
791- Dec
118% Oct
18% Jail
88% Mch
95% J ail
106% Jan
163% Jan
107
Jan
51% Jan
103
J an
18% Nov
62% Jan
64% Jan
105
270
h eb
Nov
0234 Jan
Jan
4134 Dec
91
May 110% Jan
971- Jan
68% J 'ly
113
Apr
104% Oct
Nov
129
Jail J1GG
97% J’ly
22% May
May
5% vSep
60
52
Oct
107
Oct
15% Jan
84 Jan
Jan
53
96% Jan
88
43% May
83% Dec
109
May 138% t. Jan
75 Aug
94% Jan
24
Mch
40% J’ne
84
J’uo
00
Mch
38
J’ly
59% Oct
;rl0434 J’ly *115 Jan
75
May *87% Jan
50% Oct
32% J’ly
98% J’ly 113% Jan
31
104
38
233
J’ly
J’ly
May
Mch
*S3% Dec
148
Aug
Nov
162
68 Jan
117% Jan
93 ” Dec
305
Oct
94% Jan
176 Jan
Jan
188
COMPANIES—BANKERS’ QUOTATIONS.
Ask
Bid
Bid
Trust Co’s.
-
»
500
440
160
2050
235
230
220
220
145
335’
-
-
-
-
—
350
435
1300
Ask
215
Fidelity
300
480
430
150
t225
Carnegie
Central Tr’st 1850
#Bld and asked prices: no sales on this day.
tSale at Stock Exchange or at auction this
Wfells
Fargo & Co
M estemUnion Telegraph.
143
165
143
*142
N Y City.
Astor
Bankers’ Tr
160
ProspectPklj
70
302
79l2 79l2
7934
143
165
B’nkT]
Par $10
Copper
Virglnla-Carollna Chemical.
Do pref
Virginia Iron Coal & Coke..
rfTTtah
26
26
mai-1081-
70
302
Bid
69
34
3234
97% 98%
Brooklyn.
....
....
16
May 8
27*2
U
100
Do
pref
1,835
U S Cast I Pipe & Foundr. .
800
Do
pref.....
45
United States Express
400
U S Realty & Improvement
750
U S Reduction & Refining._
1.100
Do pref
1.680
United States Rubber...;.
4,041
Do
1st pref
I)o
1.780
2d pref
275.060
United States Steel
50,735
Do
pref
60
17
60
RR
Copper Par $25
Land Trust..
I Tnlon Bag & Paper
32
81
100
3134
98
J'ne §300
201- May7
7
Jan 21
Jan 5
8I4 Jan 11
6i4Jan 16
30i2 Jan 7
88 Jan 2
19i4 Jan 10
Jan 7
36
7534 Feb 15
llli-Jan 21
§71-Apr 2
40
Feb 21
93i8 Jan 7
*155
Jan 7
11738 Jan 7
205 Jan 18
§ 100 Apr 6
103, Jan 5
47UJan 7
1371- Feb 13
9,734 May29
May29
105
10
May2i
371, Mayi6
20
May2l
400
Texas Pacific
79
*70
68% 6934
3214 33I4
9718 98
807g
rfTnrmeKsee
357S 363_,
*77
♦95
142
165
O
Do
pref
Tenn Coal. Iron &
100
*
231*102
*60
*275
78
142
*142
$53
89
-
231-Jan
Jan
80
71- Apr
60% Apr
45U Jan
103
Jan
90% May29
1,365
13,000
-
2412 Republic Iron & Steel
Do
pref
85
55% 55% Closs-Sheffleld Steel &. Iron
2Hs
24
5.895
170
85
95
122
1181861-
900
24*4
84l8
5614
Mch 25
§ 195 May29
§95 Apr 1
5l2 May22
34
Mch 14
11478 Mch 14
200
100
220
Do pref
Pullman Company
T) allway Steel Spring
JLV
Do
pref
May 27
Mayl3
May22
Mch 5
Mch 14
2978 Meh27
86
Mch25
104*4 Mch25
100
Mch25
300
2.900
1,130
1212 Pittsburgh Coal Co
Do pref
55
Mch26
101
5
ctfs
Do pref..
751- XTatlonal Biscuit
Ui
Do
pref
11034
Nat Enameling & Stamping
12
Do pref
83
6034 National Lead
Do pref..
98
15
New
York Air Brake
—
108
6858 North American Co., new..
25
T)aclflc Mall
—
JL eople’s Gas-L & C (Chic) _
90
81
78
100
♦95
68
58
15
15
43
42
351- 3534
99
IOOI4
70
302
Electric
31*4 321- Pressed Steel Car
23%
*60
*275
80
142
pref
International Paper
Do
pref
International Power
Internat Steam Pump
Do pref
90
165
40
94
21% Oct
23
May
44
J’ly
May31: §240
16
1678 Jan 5j
40
433, Jan 3j
923a
121% Jan 5!
20
25% Jan 8j
90
95
Feb 20]
May21
Mch 14
5l8 Mch 13
4
May23
16
May92
65
May22
10
May28
24
May27
55l2 May27
250
70
*SS
*160
Mav
36
297
Mch 14
31
Mch25
921- Mch25
27
Mch 25
88
Mch 13
200
Mch25
3,224
68*4
82
95
60
1027d 10.9
140
15
106
251-
240
....
5912
*9612
OM-
Brooklyn.
Brooklyn
*79
251-
1221225
175
450
11034
*10l4
31192
161
16012
39
39l2
94
*91
2334 24
....
Borough TI._
*66
*65
*741-
241-
220
400
§77
67
68
74
111
12
83
BANKS
Banks.
1
*31
3134 325,s
963,s 97f>,s
•>r,i,
9fllo
§73
3112
32l4
97*8
96
7238
55
70
31*8
333S
9812
12
73
45
23
77
16% Jan 7
373., Jan 5
2134 Jan 10
2578 Jan 12!
511-Jan 7
48*1 Mch26
3.666
Leather
75s T nt Mer Marine stk tr
Ill2
72
97
1178 May27
100
6I4
*534
*54*4 58
42140
36
3614
981- 100169
6S
General
140
20
13
8912
40
Do
7
2 li2 Mch25
91- Mch 4
22
May22
13
May21
16
Mch 14
36
Mch 14
465 §280
100
9i8
25
273.950
78*2
15
1,340
85
10*4
300
75
560
5I4
Butterlck Co
93
Dec
36% Dec
16
Apr
7Ps Jan
181- Jan
381-Jan
3.233
Brooklyn Union Gas
.
-L>runswick Dock & C Impt
2314 ( Central
IS
7
Mch27
1
dBatopllas Mining __Par$20
45
5
May27
7
44
900
100
200
900
200
Industrial & Miscellaneous
A dams Express.
Sl8
♦7
585« 5914
40
pref
Wheeling & Lake Erie
1st pref
Do
Do 2d pref
*191-
12*
*70
1312
Do
115
10
139
w
75fi
43
*22
131-
*65
70
s
lUghist.
Apr
Apr
Jan
300
900
2.900
*19^
♦7
13
35*4 363,
9812 987s
9934
0
*1914 2Qlo
6OI4
26
251.8
24% 25
*10411 10S
103
104
*60
70
67
*63
*260
302
*260
302
81
81
8U8B2
143
143
*14234 144
*143 165 *142 165
26
25
*57
a
*1 of;
6OI4
12%
\\Tabash
30l2 Colorado Fuel & Iron
23*2 Col & Hock Coal & Iron
1191- Consolidated Gas (N. Y.)__
119
§1678 167s Corn Products Refining-...
Do
*71
75
pref.
6312 6334 Distillers’ Securities Corp__
Federal Mining & Smelting.
*120
140
Do pref
*8214 88
M
1534 16%
1212
pref
2912
2212
Q
72
62
6
31
82
41l2
90
ft 7
Wisconsin Central
Do pref
734
*2214
*65
74
111
*10
*79
18
40
Do
297
10
28
*105
*8
*40
23
*91
105
12
*40
36179 "
36
♦70
91
2412 24%
9038 90%
56U 5734
8I4
734
100
*_
105l2
91
Unit Rys Inv’t of San Fran
"
5
30
92
(1906).
50
55
62
26
Do pref
80
American Beet Sugar
14
Do pref
80
*..
Bio
51Do pref
2,205
541o
54
38
391.1 American Car & Foundry.. 15,135
600
Do pref
9 812 9811,860
297i 30 American Cotton Oil
100
Do pref
90
*88
American Express
*200
215
300
American Grass Twine
6
*51200
*4
43, American Hide & Leather..
600
Do pref.
*18
1934
200
7078 707s American Ice Securities
2.054
American Linseed
10
10
619
Do
*231o 28
pref
9.550
American
Locomotive
58
56
100
Do pref
*105
106
American Malt Corp
*4
5
Do pref
30
*24
Amer Smelters Sec pref B_.
92
*88
Amer
Smelting & Refining. 156,800
115l2 118
1,800
Do
106
106
pref
35
American Snuff
240
*195
Do pref
102
*90
230
6I2
612 American Steel Foundries..
225
Do pref
36
*35
5,227
*1 19% 119~s American Sugar Refining—
200
Do pref.
*120
124
25
American Teleph & Teleg..
*115
120
2,095
American Tobacco (new), pf
*9012 92
4,765
25
25*4 American Woolen
1,111
Do
pref.
§9H2 '92
38.505
dAnaconda
Copper.
581_Par$2;>
57
1131-11614
105
26
46
13
23
11
25
16
*75
*11
1934
Year
Lowest.
|
-^Mlls-Chalmers
Do
*26
pref.
853s 87*8 Amalgamated Copper
Amer
Agricultural
Chemical
*15
16*2
*9
434
*4
54
55
*50
*50
30
3034
3034 3134
89
S9
89
§S9
166
1611s 161ifi *161
3913914
3914 39%
911.J 9114
♦91% 94
231- 24
2314' 23185
83% 831- §83
5312 5315134 621-
54
31
98
*
*lll2
§293
88
215
6
*24
*88
*___.
1134
*36
72
10
*2312 30
5658 57
*102
105
*125
140
140
82 % 821a
8334 84
*8214 86
140
1377s 1391- 1351- 137
140
i-;u iohi.
*125
135
135
*125
71*7
‘>0
20
20
20
121o
’l2 TT
113S 1112
III4
74
7217B- 7112 *71
72
*43
46
46
46
*43
*43
*22
24
23
24
23
*23
SO
7412 7412
74U 7414 *70
67
67
68
68
*68
69
68
♦64
68
69
*66
68
74
74
74174
*74l2 75
*112
11314 111 112 * 1103a 115
10% Ida
*10% 12
*1012 12
84
83
*80
*79
82
*80
57159
5734 60ls
60% 6034
97199
97198
*98l2 9912
Kin
1
15U 15U
I5I4 I5I4
1001a 165 “
100
110
98
110
66166
67
65
66iS 68I4
23
23
24
2414
2212 22*4
90
S812 89
903,s 91
8812
*12514 140
*lll4
12
82
*18
*67
10
1121a H6I4
15l8 1578
7112 72
61l8 63
118
*111
16
72
61
85
*512
*334
-
2934
*75
88
*200
-
29%
*16
5I4
53
5312
3534 371.J
9812 981285S 291-
J
3412 3514
9812 9834
28% 2858
35i8
*22
*12 ‘
297
10
27
*
82
*1
1012
1 1
24
16
17
40
845S 86I4
15
15!8
15
82
15
*75
99
*9834
*28%'
3612
*..
82
tBl.
5153
5418
82
B.1,
*
161-
361-
8334 S6I4
15
84
13
15
*75
17184
14
1612
*10
*22
*12
17
285
*280
101912
*26
27
85U 88I4
S8% 89%
*15
37
22%
22
10
22
16
10
22
*13
10
*20
45
*121221-
26
47
1234 1278
2234
l2lo
11%
2178
24
13
18
*20
46
29
50
NEW YORK
Friday
May 34.
Thursday
May 30
Range lor Previous
Sales o]
Range tor Year 1907
On basis of 100-share lots.
the
Week
11 ighest.
Lowest.
Shares
STOCKS
STOCK
EXCHANGE.
STOCKS--HIGHEST AND LOWEST SALE PRICES.
[Vol. lxxxiv.
Fifth Av Tr.
Fulton
....
300
Guaranty Tr 480
Guardian Tr 240
95
Hudson
Knlck’b’ker 1190
Law TI&Tr.
Lincoln Tr..
Manhattan
Mercantile..
Metropollt’n 580
.
....
Morton Tr’st
....
SLoss than 100 shares, t Ex-rlghts. &Xe w stock.
week. sTrust Co. certlilcates. HBanks marked
Bid
Ask
Trust Co’s.
Bid
Ask
120
Mutual
Mut Alli’nce 195
NYLlfe&Tr 1000
New York Tr 665
Standard Tr
Title Gu&Tr 500
Tr Co of Am 710
Union Trust 1250
450
US Mtg&Tr
Unit States. 1220
130
205
Brooklyn.
Brooklyn Tr
Citizens’
Flatbush
425
145
450
155
260
Trust Co’s
....
550
510
245
105
270
360
450
850
725
-
VanN’denTr
Washington
Windsor
-
-
-
270
400
....
675
410
520
720
1300
470
1240
290
__
Franklin
Hamilton
Home
Jenkins
__
....
Kings Co
LIsl L&Tr..
Nassau
....
People’s
200
Williarasb’g
310
315
155
200
460
310
250
316%
220
320
330
165
--
-•
475
325
270
—
230
cEx-dlvldend and rights. dNow quoted dollars per share.
with a paragraph (1,) are State banks.
Exchange—Bond Record, Friday, Weekly and Yearly
New York Stock
OCCUPYING
POUR
PAGES
1
BONDS
Inl'st Period
N. Y. STOCK EXCHANGE
Wkkk Exdtwo may 31
Week's
Mange or
Last Sale
BONDS
Range
Bonus Sold
Cent of GaKlWCon)
Chatt Jnv pur mou g 4a. 1951
Alac & Nor Div 1st g 5a. 1946
Mid Ga & Atl Div 5a....1947
Mobile Div 1st g 5s
1941
Gen R R & B of Ga col g 5s 193?
High A’o Law High
Ask Low
104 41064
10441054 104 4 Apr ’07
21 104 4 1064
105
104s* saib l(U3*
1*12 4 1023*
102 4 May’07
102
103
5 102 4 104
102 4
102
103
102 4
107
J’ne’U2
104 4 Oct ’Or
1014
10041014
1014 May’07
101
102
100 4 1014
101
102
1014 May*07
129
1303*
129
1294 130 May’07
1294*1304
125
120 4 129s* May’07
105
1044 1054
4 Oct ’06
* 111 'May’06
1094
U S 2a oonsol registered, d
U S 28 oonsol coupon....ci
U S 3s registered
k
.
Q-J
3-J
Q-F
3-F
U-F
,1
....
E-
s;f
A1‘J0']
•
3-j
3-f
•
......
2d series 4 ias ctls full paid.
£ loan 4s ctfs full paid.. 1931
} 99
t
t
f
Repub ol Cuba 5s exten debt..
U S of Mexico s l g 5a of
<7-J
1954
Gold 4a or 1904
924 Sale
914 Sale
i 83** Sale
$
103
98
94
J-D
hese
f
7
State Securities
J-J
Alabama curr fund 4s
Dist of Columbia 3’65s
1924 F-A
Louisiana new consol 4a.. 1914 J-J
North Carolina consol 4s. 1911 J-J
6s
1911 A-O
Bo Carolina 4 4a 20*40
193; J-J
Tenn new settlement 3s..191: J-J
Virginia fund debt 2-3s...l99i J-J
08 del erred Brown Bros ctfs.
....
are
99 137
984 184
98>*
983*
Sale
984 Sale
92
924 262
914
833*
91’*
833*
102
68
94
pr ices
0
102
98
May’07
n tics b
34
16
1
.
aii*
....
-
.....
R«gi«tftrpid
Sinkingfund4s
h 1995
Xov
M-N
J-D
F-A
F-A
F-A
F-A
F-A
1st gold 5s
1934
Ala Mid 1st gu gold 5s ..1928
Bruns A W lstgu g4s ..1938
LdfcN coll g 4s
ol952
8U Sp Oca A G gug4s ..1918
Atlantic A Dauv See South Ry
Austin A N W S'eeSou Paoilic
95
J-J
Q-J
99
99
984
9S4
96
96
92s*
9S4
20
84 4
93
92
-
92
OS3*
96
87
873*
4May’07
98 4
994
99 4 May’07
oci ’01
120
Mar’07
89
92 4 May’07
88
88
89
Oct ’06
7
....
1064 Feb’07
101
109
Apr’05
110
Apr’07
1093* 112
116
May’06
1114 113 4 Nov’06
119 4 Mai ’04
no
94
924
100
894
Extension
96
903*
873*
no
1134
os
J-J
190b iVl-S
1913
1913
Registered..
M-S
1st pref income g
Stamped
2u prei uicome g
Stamped
1945
5s....pl945
M-N
Oct
6a....pl945
Oct
6s....pl945
Oct
.,
3a prer income g
May’07
Fcb’uT
1214
1014
024 Sole
102 4
*
1004
116
Stamped
102
Mar’07
116
102 4
104
103
113
Apr ’00
May’07
So3* 65
68
85
May’07
7u
74
May’07
74
70
May’07
68
68
59
60
62
Apr’07
»
*
•
-
lOO3* 1003*
4
10
....
ftitreel Railway
g
5s
1945
lat refund conv g 4s....2002
BkCity lat cou 5a.1916.1941
BkQCodb Seongug 5a. 1941
Bklyn Un El 1st g 4-58.1950
Stamped guar 4-5a
1950
Kings Co El lat g 4s....1949
101
82
J-J •102
M-N
F-A
102
A-O
J-J
F-A
F-A
F-A
Stamped, guar 4s
1949
Nas:
iElecgug4s
1951 J-J
Conn Ry A Llstcfe ref g 4 4s ’51 J-J
Stamped guar 4 4s
1951
Den Con Tr Co lat g 5s...1933
Det United 1st con g 4 4a. 1932
Havana Elec consol g 5a. 1952
Inter-Met coU 4 4s
1956
Internat Trac coll tr 4a..1949
Louis Ry Co 1st con e 5a..1930
ManUa Elec lat & coil 5s. 1953
*No price
J-J
•
83
103
Sale
104
84
83,j4
79
A-O
87
F-A
A-O
J-J
74** Sale
727e
J-J
M-S
III!'*
Friday; latest price this week.
804
103
100
1023* 104
9834
J-J
101
1024 111
1004
lio
87
62*4 113
Apr’07
Apr:07
101
Feb’06
Feb’07
107
92*8
1024* 10SQ
1014
108
87
89
844
884
81
80
984102 4
r
91
733*
93
82
73
ilar’98
May’06
Registered
1879-1929
1909
1909
....
4 Due Apr
Registered
e Due
A-O
A-O
A-O
M-N
M-N
A-O
A-O
1924
5a...1934
1934
lstgu aa.1921
CRIF tfc N W
M A St L 1st gu g
BONDS—Continued
793*
71
727g Apr’o7
aDueJan
65
66
100
84l* May’07
82 4 May’07
98 4 May’07
104
Dec’06
95
J’ne’OO
034 Oct ’06
92 4 Jan ’07
73*4
75 4 144
109
88 4 98
1879-1929
Con 1st A col tr g
754
743*
3 100
92 4
113 4
994
92
103
127
T
on
7.
LlO^a 1D>
44
994 106 s*
974
Mar’07
Feb’05
Feb’U0
96 4 100 4
92 4 924
80
764
75a,
G04
754 May’07
004
00 \
^Muy’05
99
894
Sep ’Ou
98 4 100 4
89
924
103
100
984 104
101
102
103
1017a
101 •,
100
100
1053*
994 lt)0 4 984 May’07
101
100
100 4 101
1014 Deo’06
124 4
11041114
106
100
105 4
103
92
Saio
109 4
100
100
100
J’ly’06
100 4
May’07
1004104
1054 May’07
1054109
Apr’07
92
103
120
92
92
1004103
103
May’07
1114
1114
1184 Feb’P0
1134 Feb’07
120
111
126 4 May’07
107
Apr’o7
105
105
1054
1054
103 4 May’07
104 4 Oct ’06
92
92
126
1264
107
1114
104 4105
103
1064
101
107
120
1174
1134 1134
111
lo5 4
1194
lOO3* Feb’07
1084109
78..1927
A-O
A-O
A-O
J-D
no
112
1003* 1003*
1084 May’07
100
Aug’04
1374J’i.v’99
1014
1084
182 4 Apr’06
111
Aov’OU
102 4 Apr’07
1074
1024
104
1094
1044
l094Miiy’07
1004 Feb'07
1053*
......
ib?"
*1084
102 4 103
102 4 1053*
104
104
107 4 110»*
1054
Jan’07
105 4
104
1064 1004
1104 1114
1184 121
110*2 May’07
1184
1184
1014
1014
104
Feb’07
92 4
92 4
95
Feb’07
Oct’00
Hi
114 4 Feb *06
1014 102
104
104
92 4 98
95
95
1004 Fiov'uO
1074.I’ne’06
Sale
103
103
100 4.
...
10e>4
1204
113 4 Sale
122 4
122 4
100
May’07
100
98
107
98
l()7
Jan’07
108** J an 04
113 4 Apr *07
117
Feb* 06
105 4 Dec’05
1004 May 07
101 4 May’07
1234 Apr’07
113 4
113*,
142 4 Feb
4 1024
JOL
107
113 4
1143*
|1004 1024
1004 1014
10
122 4 1233*
113
1134
’02
1284 Feb’06
Sep ’03
103 4 109
1134
92a* Salo
984
83
100 4
98
....
110
9
_
May’07
1114
98
12
1134
105 4 1054
1124
1054 May’07
1054
ioo 4
934
90 4
1154 Oct ’05
11241123* 112
Salb
44
114
HO**
11164 1 16 4
994
10»4 84 984 100 4
i 99 4
O'J3*
994 Feb’07
i 1*0 67 4 914
874
>8
97
j’ly ’04
115 4 May’o,
1104 Mur’O i
924 Nov’06
90 4 Jan ’07
93
May’O 4
914
87
804
90 4
90 4
9*64 *904
9<)34 Feb’07
85
85
90
May’07
84
66 4
07
Dec’05
79
84
84
84
60
117
IIP
May’07
1204 Mai4)3
111
Nov’05
115
117
103
103 4 May’07
80
M ay‘U7
102
80
41083*
108
113
004 Sale
84
Bur Ced R A Northern—
90
90
100
May’f»7
974
104
10
102
92 4 bale
1987
Registered
G04
J’ue’00
102
May’06
Feb’Od
110
101
104
112
90
F-A
M-N
J 4a
1912 M-N
M 48
1915 M-N
1910 M-N
N 4a
0 48
1917 M-N
P 4s
1918 M-N
Chic R I A Pac RR 4s..2002 M-N
Registered
2002 M N
CoU trust gold 5s
1913 11-S
116
85
85
70
73
68
62
105
107
884
q*F
Registered
1988 J-J
Refunding g 4s
1934 A-O
CoU trust SenesH 4s ..1910 M-N
102
105 4
116
100
1094111
98 4
89 4
1886-1926
J.J
incomes
1911 M-N
Chic Rock isi A Pac 6s...1917 J-J
Registered
1917 J-J
General gold 4s
1988 J-J
904
22 100
11 101
r
102 4
IU03* Maj ’07
MlSCELIiANKOlJM
Brooklyn Rap Tr
1910 J.J
!Vi-S
1184 123 4
893*
89
bd
1W80.1926 F-A
Mich Div lat g 6s
Apr’07
102
Q-J
1921
Regiatered
1921
Sinking fund deb 5a
1933 M-N
Registered
1933 M-N
North Illinoia 1 st 5s....1910 M-S
Ott O F A St Paul 1st 5s 1909 M-S
Winona A St Pet 2d 7s.. 1907 M-N
Mil LS& West 1st g6a 1921 M-N
Ext A imp a fund g 5a 1929 F-A
1184
103 4
112
....
Apr’dO
1183* Mar’07
1014 Sale
J-J
Debenture 5a
124
94 4
Carb do Shawu See 111 Cent
Carolina Cent See Scab Air L
Cartilage A Ad See N Y C A 11
Ced R la i'&N See B C R A A
Cen Brancn Ry See Mo Pac
Cent of Ga RR 1st g 5s..pl945 F-A
Consol gold os
1945 .M-N
Registered
113 4
103 4
......
85
084
7s.... 1915
Registered
Bruns
97
110
4s
Debenture 5a
Moutauk See Long 1
West See Atl Coast L
Buffalo JSi Y dc Lrie See Erie
Buffalo it dc P gen g os... 1937 M-S
All A West 1st g 4s gu..l998 A-O
Cl A Mall 1st gu g 5s....1943 J - J
Rocli A Pitts 1st g Os...1921 F-A
1922 J -D
Cousol 1st g Os.
Buffalo & Southwest See Erie
Buff <L Susq 1st ref ir 4s.c/1951 J-J
See. C It I A P
Bur C K & M
May’O
100
109
Sinking fund 5s...1879-1929
94
94
99 ’* 100 4
101
99
Apr’O',
4
r
Registered
»19S7 Q-F
Sinking fund 6s... 18757-1929 A-O
....
Mar’07
Noy’04
Mhv’07
75**
06 3* Sait
109 4111
1174123
101 4 Sale
General gold 3 Us
....
....
7s
Registered
10641054
....
100
9738 08 4
J-J
191H j.j
j. j
5s
Chic A Northw cons
90
89
92 4
....
Sale
101
1114
1st 58
1910 J-J
1908 J-J
T A D Ext^n 1st, 7s
La Crosse A D 1st 5s....1919 J-J
Mineral Point Div 5s....1910 J-J
So Minn Div 1st 6s
1910 J-J
SouthwestDiv 1st 6s. ...1909 J-J
Wia A Minn Div g5s....1921 J-J
MU A No 1st M L 6s....1910 J-D
1st consol 6s
1913 J-D
894 934
924 924
98 4 1024
98
1014
....
Mayo?
4
Apt ’07
102 4 108
123 4 126
126
123
1104 1104
M-N
M-N
J-J
General g 34s series
Chic A L Su Div g 6s
1921 J-J
Clue A Mo Riv Div 5a...1920 J-J
J-J
j.J
Ohio A P W lstg58
Hast A D Div 1st
3
...
1004 102
*1**1921
92
101
110
105 4
*1989
B.el989
Dak A Gt So g
84
100
Nov’05
S2 A ug’05
4 Mtiv’07
12 IS
101 4 Apr ’07
104
May’07
1014
M-S
J-J
J-D
A-O
J-J
03
J’ne 06
4 Dec 05
8S
M-N
..
91
May’07
903* Dec’00
83
98
-
Ltanada
South 1st os
-2d
1919
4a.1927
Refunding goldSfi
-.1947 J-J
Louisv N"A*& Ch 1st 6s.1910 J-J
Chic Mil A St P term g6s 1914 J-J
Rftglatftred
...
95 4
95
86
863* 924
934 1084
1324 Jan ’00
1124 Jan’04
1144 Nov’06
09 4 Mar’06
91
A-O
F-A
Al-S
A-O
J -D
A-O
A-O
J-J
J-D
.
_
Sale
123
92
89
Mouon iiiv 1st gu g 5s..1919
Ceu Oliio li 1st c g4 4s..1930
Ol Lor A W con 1st g 5s 1933
Ohio River Kit 1st g 5s. 1930
General gold 5s
1937
Pitts Clev tfc Toi 1st g us 1922
Pitts A West 1st g 4s...1917
Stat Isi Ry lstgu'g44s 1943
Bat Creek ite S Bte Mich Cent
Beech Creek See N Y C A ii
Bellev A Car see Illinois Cent
.
.
.
Pitts Juno 1st gold 6s...1922
PJuntfc M Div 1st g 3 *1181925 M-N
Bklyn A
86
Apr’07
803*
874 16
247
93 4
95
99
Feb’07
6
984
9^
Feb’O?
90
984 Nov’04
94
Nov’06
93
May’07
....
91
PLE&WVaSysref 4sl941 M-N
Southw Div 1st g 3 4a... 1925 J-J
Regiatered
/(,192b Q-J
90
86
..
.
93
115
115
115
102
124
120
109
100
F-A
J-J
J-J
J-J
A-O
A-O
M-N
M-N
M-S
General consol 1st5s....1937
1937
Registered
Chic & Ind C Ry 1st 5s. 1936
Chicago A Erie See Erie
Chic In<fc Louisvret 6s... 1947
933* lOl3*
924
....
/tl948
A194S Q-J
J J
Registered
974 100
903* May’O?
903* May’07
87 4 Sale
89
92
86j4 Sale
95u* Salt
99
983* 994
A-O
\f-N
J-J
M-N
J - J
& Ohio prior lg34s./tl925
1925
BaltRegistered
844 91
9641024
97
MS
Ati Knox A S See L A N
Atlantic Coast 1st g4s./tl952 M-S
Charles A Sav 1st g 7s..1930 J-J
8av F A W 1st gold 6s.. 1934 A-O
Gold 4s
.1949
Joint bonds See Great North
Debenture 5s
1913
Han & St Jos cousol 6s.. 1911
Chicefc E Ill ref Sc imp g 4s 1955
1st a f our 6a
1907
1st consol g 6s
1934
Valley i6e«Penn Ri<
Registered
.
1949
6s..1919
Nebraska Extension
See Dei&Hue
Stamped
/tl995
Conv g 4s
.1955
Debentures 4s Series F.1908
Series G
1909
.1910
Series H
1911
Senes 1
Series K
1913
East ObJa Div 1st g 4s..1928
1949
Gold 48
Iowa Div sink fund
see
....
100
High
Jilgo Ao Low
Low
j-j
Q—DenvD*4s 1922
Chic Burltfc
Illinois Div 3 4s
....
844May’07
...
....;.
Val
......
....
85
973* Sale
1001*
M-S
J-J
Regiatered
1927
Soutfiwestern Div4s.... 1921
Alleg & West see Bull K A P
Ann Arbor 1st g 4s
h 1995 Q-J
Atoh T A S h e—Geu g 4s. 1995 A-O
Registered
,1995 A-O
Adjustment g 48
711995 Nov
102
124
Salb
122 >4
g 5s....1940
B & A Div 1st con g4s..1989 J-J
2d consol g4s
1989 J-J
Warm Spr
1st g 5s..1941 M-S
Greenbrier Ry lstgu g 4s ’40 M-N
Clue & Alt RR ref g 3s... 1949 A-O
j. j
Cent At
So RyLine
Alabama
labs M nil
seeCoast
Allegheny
1992
Registered
Craig Valley 1st
Railroad
Albany A Susa
J
108
Q-h
V UilUUJUt XQb
Ctias & Sav See Atl Coast Line
Chee & Ohio g 6s aer A../il90b A-O
Gold 6a
01911 A-O
lat consol g 6s
1939 Mi-N
Registered
1939 M-N
General gold 44s
1992 M-S
Mar’02
117 4 J’ne’Oo
105 4 Deo’04
1004 1004
100 4102 4 1004 Apr’07
126
126
126
Mar’07
1244
120
Mar’OO
25
90
95
96 4 964
954
054
934 953*
984 May’07
23
20
27 4 221 20
274 Sale
111
.
N V ^ Long Rr ger> g 4r 1941 M-S
Cent Pacific
See So Pacific Co
963* 1004
964 1004
873* 94^
874 924
79
854
96s* 1033*
964 99
92 4 95
of $5 to £.
83
J
Q-M
Q-F
A-O
A-O
F-A
J J
J-J
M- S
:V5- N
ASK
Leh & Wilks B Coal 6s.. 1912 M-N
Q-S
Foreiffi) Government
Japanese Govt 6s sterl’g.1911
J-D
J-J
J-J
J-J
it 1987 Q-J
Am Dock <fc Imp gu 5s.. 1921 J-J
Le & Hud R gen gug5a 1920 J-J
....
QN
May 3!
Bia
Registered
•
...
.
Q-F
U S4s coupon
•
......
fii'iday
Per
Range
Since
January 1
Weed's
Range or
Last Saie
Price
Jnt’ni
N. Y. STOCK EXCHANGE
Wrek ExotNo May 31
Since
January 1
Bid
l. ft. Government
U S 48 registered
Price
Friday
May 31
1114
105
77
914
82
Next Page.
Street liailwny
Met St Ry gon col tr g 5a.1997 F-A
Ref g 4s
2002 A-O
BwayJfc 7th Av 1st eg 5a 1943
Col<fe 9tli Av lstgu g 58.1993
Lex Av&PFlatgug5s 1993
Third Ave RRcongu4a2000
Third Ave Ry lat g 5s.. 1987
Met WS El(Cliic)Iatg4s.l938
MU El Ry A L 30-yr g oa. 1926
Miun St Ry lat con g 5a..1919
N Orl Ry A Lt gen 44a ..1935
St Jos Ry LtH & P let g is ’37
St Paul City Cab cou g 5s. 1937
Underground of Lon 5s...l‘J08
Union El (Chic) 1st g 6a.. 1945
United BRa San Fra f 4a. 1927
United Rya St L 1st g 4a. 1934
W Chic St 40-yr con g 5s. 1936
May 47 Due J’ne /(Due
J-D
M-S
M-S •107
J-J
85
109
J-J
F-A
F-A
J-J
J-J
M-N
J-J
J-D
A-O
A-O
J-J
M-N
111
112
’*86*‘
1104May’07
113 4 Feb’07
110
May’U7
85
►‘S-'V
111*4 111 May 07
93 4 J ’*y ’06
98
109
J’ly’06
107 4 Feb’06
;;;;;;
103** Oct ’00
1 10 4 Nov’06
78
......
72
81
J’ly A: Due Aug obua Oct
77
May’07
lOO
Jan’07
74** May’07
81
May’07
99
Dec
....
....
"
85
1134 1134
110
HO
89
85
6
1144
111
....
::::
....
....
....
75
HK)
....
04
100
743*
834
81
86
97
p Due Nov i Option
Sat#
BOND-
fYidav
May 31
kmuno may 31
Chic Rrk
j. j
M-N
A^lD
Clue ^r, a. & N O
Range
Range or
Last Sale
Sc
Since
aqac
January 1
Uigf1 A’o
Nov’06
May’06
'10538 Nov’06
107
103
BONDS
Lota
High
J-D
J-D
M-N
4a...1947
125 4
131*4 Feb’07
J .J
A-0
J-J
r~4
118 *4
Q-.M
Ill
Coupon oft
Chic <fc Weat Ind gen g 6s 01932
Consol 50 year 4s
1952
Cine <Sc W Mien see Pere Marq
Choc *j & G air See C Jft I «fe P
Cln H & D 2d gold 4 4«...1»S7
Cin D & 1 1st gu k 5s...1941
C Find A Ft W Jstgu4sg.’23
CtB 1 A W 1st gru g 4s.l953
Ind Dec A W 1st g 5s...1985
1st guar gold 5s
1935
Dec’03
93
129*4 Mar’U4
118*4
97*4 Apr’o7
109*4 May’07
111
May’07
00
Oct >06
103«8 May’07
1*02
131*4
-
---
i
1
1314
16;4 1204.
974
9734
....
109 4
11(J78 113
97
....
J-J
....
i03“a
105 4
83
83
....
1044 105
....
See C C C A St L
fiMOCCStL
CIStLAC
Cln SAC
Clearfield A Mah See BEAR
Cler Ctn C A St L gen g 4s 1993
Cairo Dir 1st gold 4s....1939
Cln W A M Div 1st g 48.1991
St L Div 1st col tr g 4s..1990
1990
fteglatered
J-D
J-J
J-J
M-N
M-N
Spr A Col Div 1st g 4s..1940
W W Val Div 1st g 4s...1940
OlStLAC consol 6s..1920
1st gold 4s
...*1936
.Registered
kl936
Oin S & Cl con 1st g 5s. .1928
OC C A I consol 7s
1914
Consol sink fund 7s. ...1914
General consol gold 6s. 1934
1934
Registered
Ind 81* W 1st pref 48.1940
O Ind & W 1st pf 6a...(il938
Peo A Fast 1st con 4s. ..1940
Inoome 4«
1990
Cler A Marietta See Penn RR
See
Penn
Cler A Pitts
Co
Col Midland 1st g 4s
1947
Colorado A Boa 1st g 4s...192*
1935
Rotund A ext 4 48
Oolum A Greenv See So By
Col A Hock Val
See Hock Val
Col A Tol See Hock Val
Col Conn A Term See MAW
Conn A Pas Rivs 1st g 4s.1943
100\ 102
101
9038 Jan ’ti7
974 Apr’07
93
95
97
Jan ’07
99*4 Feb’05
98
Sep ’06
954
93
M.ft
J
1
96
1044
Q-F
J.J
J-D
•
..
.....
109
117
>
96*»102
99^ 99^
....
j.j
127
132
Feb’07
1044
Nov’Oi
j __r
A-0
2-o
914 May’07
60
May’07
59
Apr l
F-A
68
Sale
89 tb Sale
89*4
M-N
91*4
95
J-J
68
....
11841184
....
,
1314132
...
1
«97ft
4
Feb’07
60
....
68
•
•
•
95
72*4
914
....
744
944
67
89 4
95
•
95
Ist7s...l9l4
1st consol guar 7s
1915
Registered
1915
1st re! gu g 3 4s
2000
N Y Lack A \V 1st 6a...1921
Construction 5s
,.1923
M-N
J-D
j .p
Term A Improve 4a....192S M-N
Warren 1st ret gu g 3 4s. 2000 F-A
Del A Hud 1st Pa Div 78.1917 VI-6
1917
\1-S
1916
10-yr conv deb 4s
Alb A Bus conv 3 4a
1946
Kens A Saratoga 1st 7s. 1921
Del Riv RR Bridge See Pa Kli
Deuv A B Gr 1st con g 48.1936
Consol gold 4 4s
1936
J-D
lleuiHiered
Improvement gold
5s...192s
Kio Gr Juno 1st gu g5a.1939
Rio gr so 1st gold 4s....1940
Guaranteed
AO
M-N
J-J
J-J
J-D
J D
J- J
7
1940
Rio Gr West 1st g 4a....1939
M ge and cul trust 4sA.1949
Uhiii Cent istgu g 4a al917
De-fi .Viol vC Ft I»
See M A St L
Des Moi bn liy 1st u 5s..1917
Del A Alack 1st lien g 4s.1995
Gold 4s
1995
Detroit Southern—
Ohio Sou l*iv 1st tr 4s...1941
Dul A iron Range 1 at5b..1937
Registered1937
2d tin
1916
Dul Short Line See Nor Pao
Dul So Shore A Atl it 5a.. 1937
I dual oi A1 m u see St P M A M
I ^aet Ten Va A Ga See So Ry
120 4
.
92:14 Sal >3
128*4
95
102
consol sen Hen g
......
50-year conv 4s A
1953
do
Clue A Ene 1st gold 5a..
Ill
Dock A
lid
92
92 4 89
Sep 04
Imp 1st cur 6a..1913
*95
i*09
92
110
93*4 973<
1024 102 4
1044 105 4
....
....
8
Mar’07
....
Apr’07
....
86
Oct ’06
111
Apr’07
112 4 Feb’06
914
y®
87*4
87*4
92
89
92
92 4
11i
i 114
....
....
Jan ’07
....
1104112
107 4
109
103
110 4
100 ?8
104
107 4
98
126 4
M-S
M-S
133
9334 Salt
.
.
F-A
A-0
A-0
J-D
J-J
M-N
86
FebOV
Sale
72
95
100 4
126
118
li)97t
121 4
126 4 130
108
J-J
M-N •1114
126
1294
100^
May’07
Sep 06
11
93*4
12
tO
ss
86 4
85 4
914
_
<*n« and
Electric Light
G L Co 1st g
Consol Gu.s con v deb
M-N
A-O
1909 J-J
6s
Cousuin Gas see P G A C Co
Detroit City Gaa goa
1923
Det Gas Co con 1st g 5s. ..1918
Eil El ill Bkn See KCo E LA P
Ed E ill 6NN YGAELHAP
Eq G L N Y 1st eon g 5s..1932
Gas A Elec Berg Co c g 5s. 1949
Gen Electric deb g 3 4a..1942
Gr Rap (J LCo 1st g 6a...1915
’idson Co Gas 1st g 5s..1949
au City (Mo) Gas 1st g 5s 1922
Co El L A 1’ g 5a...3937
J-J
F-A
12
|l* 0 4 '*>1
l'26
....
TO!.
126
FA
F-A
M N
A
A-O
A-O
68
125
100
100
86
1024
1101 *v
.....
•J
Mar’Ob
111
844 Apr’07
105
111
86
8l7e
it'0s8
|
i ■*D'S
112
....
b-l
s7
...
100
103
51ar’07
1U0
A-0
1
92 4 138
943b May’07
Divregoa
Registered
Gold 3 4a
Registered
Soring Div 1st e 3 4a...
1921
F-A
1951
1951
1951
J
10L
100
100
4
104
103
104
Nov’UG
5
1951
....1951
1951
Registered
Mempli Div 1st g4s
St L Sou 1st gu g 4s
130
1
1951
99
’ Apr’07
100
95 4
99 4
70
101
98
Apr’O,
J’ly Ot
J’ne’Ot
Oct ’04
Apr’07
May'o7
97
May’07
1024 Jan ’07
89
89
123
May’99
784 Apr’06
7834 Feb’07
107 ^
107 •*6
100
1007,
98
10234
98
98 4
98
103 4
97
4)
oS0*
984
99
99
....
1094 Sep’06
107 4 Apr'1)7
97
1024 102*4
91
8 89
78*«
784
....
89
Mai’07
101 4 Octr ’99
100
Nov’OU
100 4 AprM7
122
Dcc’O;'.
J-J
997e
K-A
J-D
M-S
J-D
J-D
J-D
J-D
J-D
1931
M-S
I ml Bt A West See C C C A St L
1ml Ill A la 1st g 4s
1950
lut A Great Nor 1st g 6a.. 1919
2d gold 5s
1909
• 3d gold 4s
1921
Iowa Central 1st gold 5s.. 1938
1951
Gold 4s
;
Jedersou RR See Erie
J-J
M-N
M-S
M-S
J-D
M-S
97
It 8
93 4
Ill*
i*12
102
97
411 s 4
93*8 May’04
100 4 May’o7
97
Mar’07
97
*1*00 4
Mar’Oi
•*
1004
884
118 4 Apr'Oi
1194 Mar’04
97
......
_
....
I004 1004
97
97
May’07
96 4
96 4
86 4 ^aie
65
May’O?
73
111
Feb’uT
10b
Feb’07
79 4 85
100
93 4
112
112
115 4
111
95
2
65
109
1
99*4
79
111
05
b5
....
Kal A A G R See L S A M S
an A M ich
See Tol A O C
K C Ft S A M
See St BASF
K C A M RA B
See St L A S F
Kan C A Pacific
See M K A T
Kan City Sou 1st gold 3s.. 1950 A-O
Registered
1950 A-0
Kentucky Ceut see L A N
Keok A De8 Mo see C R 1AP
Knoxville A Ohio See So Ry
1 ake Erie A W 1st g5s.. 1937
1 * 2d gold os
1941
North Ohio 1st gu g 5a..1945
L Slio A Mich S See N Y Ceut
Leli Val N Y lstgu g 4 4a. 1940
J-J
J-J
A-O
J-J
Registered
1940 J J
Lehigh Val (Pa)cons g4a.2003 M-N
Len V Ter Ry 1st gu g 5a. 1941 A-O
1941 A-O
Registered
I^eli V Coal Co 1st gu g os. 1933 J-J
Leli A N Y 1st guar g 4s.. 1945 M-S
Registered
1945
.
1074
106*4
....
112
Leroy A Caney Val see Mo P
Long Dock See Erie
Long Ial’d—1st con g 5s./ii931 Q-J
1st consol gold 4a
/tl931 O-J
General gold 4s.
.193?-' j-D
1922 M-S
Ferry gold 44s
1932 J-D
Gold 4s
Uuilied gold 4s
1949 MS
J-D
M-S
M-S
Bklyn A Mont 1st g
1st 5s
1911 M-S
N Y BA M B 1st cun g 5s 1935 A.p
N Y A R B 1st g 5s
1927 M-S
1934
1949
6s.. 1911
IKIMb—Continued
73
14
67 4
10
112 V
106 4
110
12
106 *4 I0?
106
106
Oct ’U<
113
il-.^
106 4 108 4 lu7
110
109 4
it
Muy’U7
Apr’U,
107
107\
106
Mat’d.
Oct ’06
95
113 4 May’u7
109 4 Oct ’99
112 4 May’oT
lii 4 Jan ’ut
1054 Jan’0.
11 4
107
1104
»4
113 4 1 13‘4
1
May’07
95 4
M-S
El C A N 1st pf 6s ....1914 A-O
Gold guar 5s
1914 A-O
Leh A Hud R See Ceut of N J
Leli A Wilkesb see Cent of N J
Debenture gold os
Guar ref gold 4s
1124 H3
694
69
63
69 4 Salt
12 4 1 12 -i
95 4 9634
1
102*4
99 4
112*4 U234 112
....
114 4
112
Apr’07
94
96
94
95
94
96
102
May’07
95 4
99
94
95 4
Nov’05
99*4 Oct ’06
947« Apt ’07
.l’ue’04
llo
96 4 96 *6 May’07
96
99 4
Mar’Oi
100
1024
105
Apr’07
Nov’Ot
109
103 4 Feb’07
105
1094
104
100
100 4
1 05
ggu5sol932 Q-J
Louisiana A Ark 1st g 5s. 1927 M-S
!
103P 105 4
984 Nov’Oi}
Nor SUB 1st con
|
...
80
1024
99
J
-
1951 J-J
Lines 1st g 4s.. 1951
Bellev A Car 1st 6s
1923
Curb A Shaw 1st g 4s... 1932
Chic St L A N O g 5a...1951
j Sv3a 96 4
....
*
Oft7,
894
917a
924 Sale
....
103 4 103 4
Next Page.
on
Electric Light
Lac Gaa Lof St L 1st g 5s.el919 Q-F
68 1
Salt !
100
10541054
j
titui and
10441
M-S
J-D
Purchiute money 6s......x997
R«1 El 11 Bkn 1st con g4a 1939 J-J
No price
ID*
20 116
|
5s...1947
Bklyn b oas 1st con g 5s. 1945
Buftaio Gas 1st g 5s
1947
i
994
72
87 *
120 4 120 4
Oct 05
Dec
84
3
11
116
115
100*4
ioo78
Feb’06
104^ Feb’06
Salt
ioo78
..
80 4
80*.
85 4 Feb 07
86
8«
77
77 4
72
May’07
120 4 Apr ’07
123
116
111
103*8 103*8
-
Oct 06
93*4
80 4
7634
6978
May’oT
1*0*9
109
Apr’07
12734 May’07
J-J
J-J
J-J
J-J
•
Jan’06
UlSDElihAMlOllN
Attaut
4
11334 114 4 Nor’06
98
107 4
J-D
Long Dock consol g 6a..1935 A-O
Coal A RR 1st cur gu tia.1922 M-N
iii34
-
A-O
-
2
92 4
87‘*4 Feb’07
112
-
!1
......
Registered
Jan ’05
Jan’ui!
844
I110-4 1104
.
1
117
Pec’06
118
168 4 104 4 Apr’i'T
114
Apr’05
106 4 Feb’06
Han A St Jo See C B A Q
Gold 3 4a
Aug’01
97
j-j
1982
1114,
Feb’06
94 4
95
102 4 Jan ’07
105 4 Feb’07
101*
Mar’05
76
Dec’05
80
93
liO
A-O
A-O
<’lev A .Million Val g da. 193ft j J
Jell RR 1st gu g oa....al909 A-O
1*09
....
92 4
82
•1*00*4 i".i
Apr’06
116
J-J
J-D
J-J
western
....
89
M-$
1996
1951
121*4 121*4
-
241
97
92
93»* 19
133 4 Dec’06
923s
J-D •91
•
90
J-D
4a..1996
133
149
95
j
M-N
1996
Penn coll tr g 4s
.Sale
101
......
j-j
AO
A-O
1921
4th ext gold os
5Lli ext gold 4s
192s
1*920
1st consol gold 7s
1st consol g tund 7s
1920
Erie 1st con g 4s prior..1996
Registered
...
1174 1174
102•*» Aug’06
t02 ' Feb’03
123 4
J 21
95 *4 Salt
Elgin JolA Fast 1st g5s.1941
Elm Col t A .No
See Leli A N Y
Krie lai ext gold 4a
1947 M-N
2d e\i gold ;»a
1919 M-S
1923 M-S
3d o> t gold 4 4«
tst
10141044
i
121*4 Sep ’06
109 4 May’07
120*4 125
M-N
Registered
102*4 May’OT
117 4
117 4
12138 Apr’07
127
J’ne'05
1024
116 7*118
1 .n
J.J
F-A
1034
102 4105
Omaha Div 1st g 3b
1951 F-A
St Louis DivAterm g3s. 1951 J-J
kak A Gt So
Morris A Essex
104 4 Oct ’06
4 105 4 Apr’07
ousatonio See N Y N H A H
1044
•104
Hock Val l8tconsolg448.1999 J-J
1999 J-J
Registered
A-O
Col A H V 1st ext g 4a.. 1948
99
Col A Tol 1st ex 4s .i..,1955 F-A
See So Pac
Houst E A W Tex
Honst A Tex Cen See So Pac Co
106
J-J
Registered
1951 J-J
09 4
1st gold 3 4s
1951 J-J
100
Registered
1951 J-J
97
Extended 1st g3 4a
1951 A-0
1st gold 3s sterling
1951 M-S
98 4
Coll Trust gold 4a
1952 A-O
Registered
1952 AO •
*984
M-N
JjN O A Tex gold 4s ...1953
Registered
1953 M-N
Cairo Bridge gold 4s.... 1950 J-D
Sale
89
LouisvDivATerm g3 4a.l953 J-J
Middle
1)1
i
.
........
......
Illinois Central 1st g4s.. 1951
A-0
see C M A St P
'alias A Waco See M K A T
Del Lack A Western 7s... 1907 M-S
......
7
nigh
110 4
108
....
llO^ May’07
110
1921 Q.J
Registered, h
Greenbrier Ry See Cbes A O
Gulf A S 11st ref A t g 5s 61952 J-J
A. T
»14
!,<>•'
Dec ’()>
Feb’07
100 4
100 *v
See Sea A Line
Ga Car A Nor
See Sea A Line
Georgia Pacitio See So Ry
Gila V G A Nor See So Pac Co
Gouv A Oswegat See N Y Cem
Grand Rap A Ind See Penn RR
Gray’s Pt Term See St L S W
Gt Nor—C B A Q coll tr 4s 1921 J-J
T\
1
A0
See Ch M * St i1
See Pere Mar
lint A Pore M
Fla C A Pemn See Sea Air LintFort St U D Co 1st g 4 4s.1941
Ft W A Den C 1st g 6s.... 1921
Ft W A Rio Gr 1st g 4s... 192*
/ i ai Har ASA
See So Pac Co
VTal HAH of 1882 1st 58.1913
99
994
97 4
984
....
98*4 Apr’07
113*4 J’ue’06
1184 Jan ’07
9ft 4
983j
97
97
98
97
....
105
Jan ’04
97 4 Mar’o7
974
Q-F
8
101
96
/a.nvarn
Georgia A Ala
1074 Dec’02
.1
-
C J.
x
Jan ’07
83
1044 Feb’07
88
110 4 May’OT
F-A
n,v
ew
High
Ask 1a)W
......
no.noe
<>1
Sate
Last
110 4
J-J
F-A
M-N
Regis 35,000 each...1943 M-N
MidRRofNJ 1st g 6a. 1910 A-0
WilkA Ea 1st gu g5s. 1942 J-D
F.vA Itul 1st con gug6s..l920 J-J
Erie A Pitts
See Penn Co
Evans A T H 1st cons 6a. 1921 J-J
1st general gold 5a
1942 A-O
Mt Vernon 1st gold 6a.. 1923 A-O
Sail Co Brunch 1st g 63.1930 A-0
IT'argo A So
98
97‘#
....
N
J.J
J
131
....
113
J.J
M-N
Vf
977a Apr’07
96
J. J
3 128
1294
129*4
1294
N Y Sus A W 1st ref 5a. 1937
2d gold 4 4s
1937
General gold 5a
1940
Terminal let gold 5a...1943
HeeK’s
Range
May 31
Bta
Erie—(Con)
1
Price
b r ida u
Int’sl Periot<
N. Y. STOCK EXCHANGE
Wickk Endino may 31
ill Ceut
See
Chicago Ter Trans r
2^
Ask Low
109
112
111
Bid
& Pac—(Con)
l
Weetft
Since
<1
EXCHANGE
N. Y. STOCK
Wkvk
[VOL. LXXXIV.
New York Bond Record—Continued—Page 2
1292
May’07
Apr’07
105
Fsb’07
61 4 Oct ’01
86 4 Apr’o?
1074 ldtC ’00
104
Apr’07
9s
Dec’06
1*16
4
93 4
May’07
Mar’Otij
Friday; latest bidand asked this week, d DueJan
104 4
63
116
100
100
105
107 4
73 4
139*4
100
100
105
**8*6" *8*6*14
1*0*3" 1*04*
115
117
1934
L 1st 4s..1927
Ret and ext 1st. g
Milwaukee Gas
j N Y G E L 11 A P
5s
g
5s... 1948
Purcliase money g 4a...1949
Ed El Til 1st conv g 5s.. 1910
1995
1st consol gold 5s
N YAQE1 LAP 1st con g 5sl930
N Y A Rich Gas 1st g 5s. 1921
Pat A PasG A E con g5s. 1949
Peo Gas A C 1st con g 6s. 1943
Refunding gold os
1947
CliO-L A Cke istgu g 5s 1937
Con G Coot Ch lstgu gos.’36
Mu Fuel Gas 1st gu g5s.l947
AO
M-N
J-D
F-A
M-S
J-J
F-A
nt-N
IW- S
A-O
.M-S
J J
J-D
M-N
-
Syracuse Lighting 1st g 5a.’51 J-D
Trenton G A El 1st g os.. 1949 M-fe
Westcntaier Lignt’c e os. 195U J D
b Due Feb d Due Apr e Dae May
1014 105 4
102
102 4
914 914
99 4 1**34
10
84 78
19; 80
100 4
99
102V 1014 May’07
102
Feb’07
91 4 Jan ’07
89
102
lo2
*03 4 102
82
so
82
Sale
100
4
May’07
1004
113 4 J’iie’06
105
Apr'07
984 95
102
....
lO’t
....
104V Nov’05
116 4 118
!1S ' Feb’07
100V May’07
104 4
1014 104
994 101
1014 May’07
May’07
1194
119
-
-f- .
May’07
1UL
100
99
95
N.'.«vJd5
....
....
100V 1034
100
106 4
1004108
100
100
104 4
110
May* 05
1014 Feb’07
,r
i*0*14102
/c-DuojTy * Due Aug 0 Due Oct q Doe Deo i Option
Sal*
N. Y.
STOCK EXCHANGE
ending may 31
May 31
Louisv & Xashv gen g
Gold 5s
Unified gold 4s
6s.1930 J -D
1937 M-N
1940 J-J
gold0s
gold 5s
5-20-yr col tr deed g
<fc Nor 1st g5sl940
Bdgelstsf g 6s.1931
All Knox
Heinter
Kentucky Cent gold 4s..1987
LAN & M * M 1st g 4 4h 1945
L&N-Houth M joint 4s.1952
1144
95
113 4
102*4
109
94
72
y6
LA Jeff
BrigeCo
LNAACh
gu g
0s..1921 F-A
5s.. 1930 F-A
4s.. 1945
See C I A L
Mahon
CoalRySea
LS&MS
anhattan
consol48.1990
Registered
1990
Metropol El 1st g 0s....1908
McK’pl A B V See N Y Cent
Metropolitan El See Mau Ry
Hex Cent oonsol cold 4s.. 1911
Jan’ii7
May’07
May'06
97
A-0
A-0
J-J
H11L8AW See Ohio ANW
Mil A North Set Ch M A St P J-D
Mtnn A St L 1st gold 7s.. 1927
Iowa Ex 1st gold 7s
1909 J-D
Pacific Ex let gold 0s.. .1921
South West Ex 1st g 7s. 1910
1st oonsol gold 5s
1934
1st and refund gold 4s.. 1949
Dea M A Ft D 1st gu 4s...’35
Minn A St L gu See BCRAN
M StP A S S M con g 4 int gu ’38
M 8 8 M A A 1st g 4 int gu 1920
Minn Un to St P M AM
Mo Kan A Tex 1st g 4s... 1990
2d gold 4s
0x990
1st ext gold 5s
1944
904 J’Jy’01
May’00
A-O
M-S
103
J-D
104
£8
M-S
M-S
F-A
M-S
M-N
F-A
J-D
J-J
8t L IrMA.Sgenoong5sl931
Gen con stamp gtdg6sl931
Unified A ref gold 4s..1929
Riv A G Div 1st g 4s..1933
Verdi V I A W 1st g 5s. 1920
Mob.J A Iv C l6tcons g5s. 1953
Mol) A Ohio new gold 0s.. 1927
1st extension gold 0s../il927
General gold 4s
1938
Moutgom Div 1st g 5s.. 1947
8t L A Cairo coll g 4s..«1930
1931
Southern
Mohawk A Mai See N Y C A H
Mouongahela Riv See B A O
Mont Cent See 8t P M A M
Morgan’s La A T See S P Co
Morns A Essex See Del LAW
g
4s
See
Nash
St L581st 7s.1913
Chat Agold
1st consol
192?
Apr’07
....
Mar’07
May’07
105'
104
1044 May’07
104
104
A-0
J-J
M-N
M-S
J-J
J-D
-J
S
F-A
-F
-J
95
984
36
804
i
Mar’07
104
.
_..
80
110
Registered
....
....
Apr’07
98
Dec’00
1234 May’07
Deo’05
122
84 4 May’07
1084 May’07
92 4 Aug’00
101
Nov’04
Div’l lstlA geng4s...1944
Pocah C A C Joint 4s.. 1941
C C A T 1st gu g 6s
1922
Soio V A N E 1st gu g 4s 1989
Registered
101*4
110
1174
0 1094114
10041104
80
88 4
8
2
85
92 4
General lien gold
May’07
1114
1164
1164
117 4 Mar’05
113
J’iy’04
117
111*4
1114
J-J
1144
Jasper Branch 1st g0s.. 1923 J-J
McM M W A A1 1st 0s..1917
TAP Branch 1st 0s....1917 J-J
Nash Flor A She! See LAN
Natof Mex prior lien 4 Hzs.1926 J-J
1st consol 4s
1951 A-O
New HAD toNlNH&H
N J June RR See N Y Cent
New A Cin Bdge See Lou A N
N O A N E prior lieu g 0s plillG
N Y Bklu A Mau Bell See L I
NY Cent A H Riv g 3 4s.1997 J-J
83
844 94
1084 1084
i
118
117*8
1114 110
1
11041104
1997 J-J
Deben g 4s
1934 M-N
Lake Shore coll g 3 4s... 1998 F-A
Registered
1998 F-A
Mich Cent coll g 3 4s
1998 F-A
Registered
1998 F-A
Registered
,
Beech Creek
1stgug4s.1936 J-J
1930 J-J
Registered
2d gu gold 5s
1936 J-J
BeecnCrExtlstir34sGl951 A-O
92*4
944 Sale
834 Sale
83*4
92 4
93
93
83
83 4
84 4
9J4
May’07
04
83 4
93
09
9
824 88 4
May’07
102
....
4.NEOUS
91
May’07
87
Apr’07
....
»7 4
844
1024
91
87
100*.
87
102°g Apr’OG
106
95
68
'Apr'02
60
107*fc Deo’04
107
May’97
1054 Deo’00
106
Oct ’00
78
Feb’07
Apr’07
105
934 94
Sale 104
1064 106
May’07
100
102
100
Dec'03
Feb’07
92
101
92 4
193
93
latest bid and asked. aDuejan
93
93 4
104
93
Feb’07
2
....
764
68
784
78
93
103
95
1064
104 4 1064
<tTp
2
*-j
90*4
1004
iou*4
99 4
1
.
.
.
....
....
..
92 4
94 4
100 ‘a
102 4
1 o3 i.j
1024
....
101
103 "4
102 4
55 1014 105
5 1004 103
Feb’00
2
102
10U4
71*4
70
May’07
96*4 Jau ’07
71
95 4
1014
95
130
120
9
95
994
96
9
85
96 4
91 4
1
90
99 4
95 100
1024
5
98 4 102
65
094 74 4
70
71
1014 Sale 100 4
99
1004 100 4
714
71*4 Sale
*
4
....
954
95*4
....
99
1224
122 4 1234 122*4
132
J’ly’99
113
Mar’OH
109*8
106
Mav’07
lu64
08 4 Oct ’06
......
5
122*4
120
......
106 4 108*4
....
‘
93
May'Ob
1136s May’07
90
Ill
1134 1134
Panama 1st s
Penn RR lBt
fund g4 4«..l9l?
real eat g 4s. 1923
1919
Consol gold 5s
gold 4s
1943
1912
Convertible g 34s
Convertible g 3 4s
1915
Alleg Val gen gu g 4s...1942
D R R R A Bge 1st gu 4s g.’30
PbilaBal A W 1st g 4s..1943
Sod Bay A So 1st g 6s...1924
A Lewis 1st g 4s...1930
UNJ HR A Can gen 4s.1944
Penn Co—Guar lstg44s.1921
Registered
1921
Guar 3 4s coll trust reg. 1937
Guar 3 4s coll tr ser B... 1941
Consol
A-O
M-N
IO04 103
M-S
M-N
M-N
J-D
M-8
F-A
M-N
J • J
103
......
99
93 4 Sale
9l*b Sale
97
97 4
102
May’07
May’07
109
103
103
103
101
.
.
...
,
r
904 1004
884 95
Jan’03
1104 Sep ’04
J-J
J-J
M-S
F-A
1054107
M-N
J -D
J-D
96
81
94
2 106*4
111 *2 Sep ’04
106
Auir’OM
25
93
93 4
243
914
92
104 4 Oct ’06
10/
M-S
84
84
A-0
M-N
J-J
A-O
M-N
F-A
103
1064
1U7 4 Oct ’Ot
J-J
Cl A Mar 1st gu g 4 1
Cl A P gen gu g 4>4si
106*4
107
1054
107
105*4 105*4
10 105
1054
1064 Feb’07
90 4 J’ne’00
84
84
934 May’07
89
Oct ’OH
90 4 Mar’06
97 4 Jan ’07
110
.lau’05
1084 Aug’03
....
1
.
.
^
.
83
84
934
96
*97 4 97 4
105*4
984 Dec’05
96
Jan 04
BONDS—Continued on Next Page
107 4 Oct ’04
59 4 Sale
89
94
.
1304 Feb'01.
128
1274 Oct ’06
95*8
95 4 05
100
Feb’OO
95
Mar’07
91
*9
894 89
lo94 Feb’06
96
90
Sale
108-4 Sale
Telegraph and Telephone
94
.
.
00
90
1014 J’ne’06
J-D
87
81*4
83
84*4
....
....
Coal ami Iron
*Noprtee Friday;
9
Apr'0?
JI I.SHELL
Ool F A I Co gen s I g 5s..1943
Convertible deb g 5s. ...1911
Col Fuel Co gen gold 6s. 1919
Gr Riv Coal A C istg6sl919
Clearf Bit Coal 1st s f 4s...1940
Col Indu IstA coll 6s gu.,1934
Contin’talC lstsf gu5sg,1952
Jeff A Clear C A I lstg 5s. 1920
Kan A HO A C 1st s f g5s.l951
Pleas Val Coal lstgsf 5s. 1928
8und»y Creex Co g 5s....1944
Tenu Coal geu 5s
1951
Penn Div 1st g 6s
al917
Birm Div 1st consol 6s. .1917
Cab C M Co 1st gu g 08.1922
De Bar C & I Co gu g 08.1910
Valron Coal A Co 1st g 5s. 1949
Victor Fuel 1st s f Gs
1953
94*8
93
‘
844 Jan’07
Feb’07
1014 102 4 102
102
Mar’Oi
.
90
924
38
‘
94*4
OIndAW See C C C A St L
A-0
924
91*4
927h
91*4
.
hio Riv Rlt See bait A O
Ore A Cal See So Pac Co
Ore RR A Nav See Un Pao
Ore Short Line See Un Pao
1024 1024
874
82
1024 Jan’07
82
Apr’07
96
1917
J-D
1st consol gold 4s
1968 O-M
Wash Cent 1st g4s
1948
J.j
Nor Pao Ter Co 1st g6s„1933
Nor Ry Cal See So Pac
ac
1164
89
O-F
F-A
A-O
Pao Coast
Co 1st gSee5s....1940
of Missouri
Mo Pac
A-O
95
93
104
Sep ’06
126 4 May’07
Q-F
1990 J-D
Prtiil-Dul Div g 4s
M-S
Dul Short L lstgu 6s.. 1910
C B A Q coll tr 4s
See GtNor F-A
8t P A N P gen g 6s....1923
Oswego A Rome See NYC
O C F A St P See C A N W
J-J
96
1997
Dul 1st 5s....1931
.
.
Mar’07
124
1204
A-0
A-O
A-O
J-J
J-D
J-J
M-N
Registered certlfio’s.,1923
94
94
Nor Wis
See C St P M A O
Nor A Mont See N Y Cent
1214 124
....
100*4 Jan ’07
106 4Nov’0t«
94 4 Dec *00
91*4 92 4 Ma> ’07
96
St
St Paul A
2d 5s
.
104
Dec’06
118 4 J’ly’06
119
J’ne’OH
93
\
o2047
.
•
*
1134
3s....a2047 Q-F
Registered
18 101
....
1932
Aug’00
.
03*4
93*4 10
92 4 Mar’07
33
92 4
93
894
90*h 576
101
102 4
1034 Sale 103
102 41024 102 4
J-J
J-J
4s.1996
1996
103
1064
A-O
Improvem’tA extg6s.. 1934
101
105
90
88
97 4 98
92
96*4
92
02 4
....
Mar’05
110
1014
1014
1164 Mar’07
1144
111
Ill
Sale 111
1094 Mar’07
85
85
85
Sale
90
90
90
Sale
107 4 Apr’00
95
1094105
....
......
North Illinois See Chi A N W
North Ohio See L Erie A W
Nor Pac—Prior lien g 4s..1997 Q J
1154120
....
......
y 1992
New River lstg 6s
N A W By 1st con g
104
104
1084107
....
1014
1234
86
88 4
10641114
10441074
1 102
1004
...
May’07
92
02
88
105
82
87
1044 1044
954 964
.
102
J-J
M-S
M-N
J-D
N Y A Put See N Y O A H
N Y A B B See Long Island
N Y 8 A W See Erie
N Y Tex A M
See 8o Pac Co
Nor A South 1st g5s
1941 M-N
Norf A West gen g 6s
1931 M-N
F.
....
10S4Maj’07
104
11641164 1154 Max’07
1014101*. 1014 May’07
1074 Feb ’06
1024 May’07
1024
894 Apr'07
87 4
954 974 97 4 May’07
A-0
28
——
lO04Mxy’o7
95
99
26 102
81
88
1024
*9*0"
924
97
Regis $5,000 only
964
884
84
1044 Jan’07
954 Apr’07
92
105 4 110 4
94
92
•• •
•
Nov’Ol
81
86 4
84
107
M-N
Leroy A C V A L1st g 5s 1920
F-A
Pac K of Mo 1st ex g 4a. 1938
2d extended gold 5s...1938 J-J
Guaranteed
864
85
F-A
1945
1938
Apr’00
96
103
964
96*4 Sale
8*4
83*4 Sale
102410*4 102
M-N
1920
97
96
J-J
A-0
Cent lir Ry 1st gu g 48.1919
Cen Branch U Plstg4s.l948
MAO coil 4s
1094 108 May’07
934 Feb’07
90
84
J-J
J-J
M-N
M-S
Jan’07
1134 Mar’05
J-J
J-D
F-A
Apr’07
Jan ’06
.
•
a
125 4 Mar’OH
107 4 Nov’06
139
Jan’03
103
120
113 4
110
102
112
N Y A Greenw Lake See Erie
N Y A Har See N Y C A Hud
N Y Lack AW See D L A W
N Y L E A W
See Erie
N Y A Long Br See Cent of N J
New York New Hav A Hart—
M-N
Housatomo R con g 5s..1937
N H A Derby oon cy 5S.1918 M-N
N Y A North 8ee N Y C A H
N Y O A W ref lstg 4s..01992 M-8
M-S
180
105
1184
130
105
118
Mar’07
ISO
105
118
120
1104 114
.
-
115
-
2361
122
934
90*8 Sale
1931 Q-M
1940 J"-J
Registered
.
-
100 4 Oct ’06
94
May’07
94 4 94
May’07
M-N
J J
J- J
A-O
J-J
J-J
J-J
gu...2361
......
......
....
.
1931
West Shore 1st 4s
May’07
1104 Ul
4
....
934
92
1937
Nnv’97
111
97 4
97 4
113*4 Jan ’02
M-S
1940
137
...
1931
Registered
._
J-l)
J LA 8 lstg 34s
1951
1st g 34s
1952
Bat C A Stur lstgug3s. 1989
NY Chic A St L 1st g4a 1937
21
1104
1104
1014 Dec’06
98
93
25-yeur g -Is
Registered
274
HiyX
Low
974 Mar’O?
105
Oct ’02
1014 J’ly ’06
......
1928 M-S
4s
80
77
19 4
144
105
M-S
al917
15
15
since
January 1
No
High
8k Low
094
Debenture g 4s
os
A
Range
Bonds Sold
1034
2d guar 0s
1934
McKees A B V lstg 6s 1918
M-S
Mich Cent 1st consol 6s. 1909
M- S
1034
100 4
Bid
F-A
M-N
A-O •110 4
97
A-O
AO
J-D
1104
A-0
F-A
M-N
J - J
J-J
J-J
J-J
Ka A A G R 1st gu c 5s. 1938
Mahon C’l RR 1st 5s..1934
Puts a L Erie 2d g 5s.al928
Pitts McK A Y 1st gu 03.1932
97 4 1004
174 Apr'07
16
A-0
J-D
M-N
1st A refund 4s
2004
Gen s f 4 Has
1930
8t L Dir 1st ref g 4s....2001
Dal A Wa 1st gu g 5s...1940
Kan C A Pao 1st g 4s.. .1990
Mo K A Hi 1st gu r 5s...1943
M K A Ok 1st gu 5s
1943
M K A T of T 1st gu g 68.1942
SherSh A So 1st gu g 5s.1943
Tex A Okla 1st gu g os. ..1943
Mo Pacific 1st con g0s ...1920
Trust gold 5s stamped.al917
Registered
6s
irold loan 4s
3d 7s extd at 4%
112
112
109 4111
....
Week’s
Range or
Last sale
M-S
1997
Registered
Registered
1919
1st coll gold
80
92
1134 1134
....
78
20
77
194
784
194 Sale
77 4
J-J
Equiy A coll gold 5s
M-S
Mex Internat 1st con g 4s.1977
Mex North 1st gold 0s
1910 J-D
Mloli Cent See N Y Cent
MM of N J See Erie
40-vear
$3
Price
fiVuiav
May 31
OgALCliam lstgu4s gl94S
Rut-Cauad 1 st gu g 4 s. 1949
St Law* Adir lstg 5s.l990
2d gold 0s
1990 A-O
J-J
g 4s. 1922
Utica A BIk Riv gug4s.
Lake Shore gold 34s.... 1997 J-D
974
954
....
Apr’05
1034 103 4 1034 May’07
1st oonsoi luooine g 3s.al939 J’ly
3d consol income g3s..al939 J’iy
A-0
•
120
72 4
99 4 ,21
98
104
101
117
724
31
Moll A Mai 1st gu g 4s.. 1991
N J June R gu 1st 4s... 1980
N Y A Harlem g 3 4s... 2000
N Y A North 1st g 5s...1927
N V A Pu lstcongug4s 1993
Nor A Mont lstgu g 5s.1910
Pine Creek reg guar 0s. 1932
B WAOconlstext6s.A1922
Oswe A R 2d gu g 5s. ..<1915
RW&OTR 1st gu g 58.1918
Rutland 1st con g 44s..1941
11014
125 78
4
111
M-S
(117*4
121
....
Il2
110
117
1064 109
95
> 98
112
113 4
May’07
116
J’ly’00
1084 Jan ’06
964 96 4 May‘07
108
J’ly’00
88
874 Apr’07
1134 Mar’07
J-D
M-S
J*J
M-S
1
....
Ending May
N Y Cent A H R—( Continued i
J-D
Cart A Ad 1st gu g 4s...1981
GouvAOswelstgugos 1942 J-D
High
1
....
Mar’00
1074 Aug’06
117
117
724 Feb’07
1154
J-J
N Fla <fc S 1st gu g os...1937 F-A
N& C Edge gen gu g 4 4« 1945 J - J
Pens & Ati 1st gu g
S A N Ala con gu g
Low
115
108
6
97
....
May’07
May’07
Mar’OS
125 4
122 4
Wkkk
January 1
1014 J’ly’00
107
Dec’05
1064
105 4106 4 1064
1940 J-J
1910 A-0
1931 M-N
48.1923 A-0
E H <fc Nash 1st g 6s....1919 J -D
L Cm & Rex gold 4 ^a...1931 M-N
NOAH 1st gold 0s....1930 J-J
N O A M 2d gold 6s
1930 J-J
PensMolaDlY gold6s... 1920 M-F
St L Dir 1st gold 0s
1921 M-S
2d gold 3s
1980 M-S
'Registered
Sink fund
Coll trust
ln'at Per0 i
Since
No
High
Ask Low
117
May’07
108
Mar’07
1004
1004 1004
lid
115
110
100
BOND*
Range
Range or
Last Sale
/•ridau
wkkk
is
Week's
Price!
1293
BeCOrd—Continued—Page 3
New York Bond
1907.]
June 1
100
90
93 4
loo
b Duo Feb eDueMar
98
93 4
1929
Am Telep A Tel coll tr 4s
Oomm Cable Co 1st g 4a..2397
Met T A T 1st s f g 5s
1918
Mich. State Telep. 1st 6s.1924
N Y A N J Tel gen g 6s..1920
West Union col tr cur 5s. 1938
Fd and real est g 44s...1950
Mnt Un Tel s fund 6s...1911
Northw Tel gaf 44s g.. 1934
.Man u Inc taring
J-J
Q-J
M-N
F-A
M-N
J-J
M-N
M-N
J-J
95
102
S6 4 May’07
964 J’ne’00
104
Feb’07
Feb ’07
101V, 97
105 4 J’ly'03
1024 99 4 May’07
95
96
90
104
Apr’07
103
J’ly’04
!
....
1915
6s..1919 3:1
6s.. 1925
Mfg 1st g6s..l915
1919
1944
Am Spirits
Am Thread 1st col tr 4s...
Am Tobacco 40-yr g 6s
4s
1951
tiDue.xpr A Duo J ’ly k Due Aug 0
A-0
M-S
J-J
A-O
FA
88 4
88
•81
99
684
90
lo54 Sale
72 4 sale
90
104” i’04'*
98
98
00 4 103
95
100*4
4
104
104
....
<!’ Industrial
Am Cot Oil ext 44s
Am Hide A L 1st sf g
Amer Ice Secur deb g
804
88
May’07
6
88
884
85
May’07
99 4 May’07
91
May’07
105 4
10534 149
71*«
72=* 113
88
86
83
98
90
93
014
89
102
98
1044110*4
714
Due Get p I)u© Nor q Due Deo * Option
794
N8W York Bond Record—Concluded— Page 4
1294
BOND.V
Frxce
X. T. STOCK EXCHANGE
Wbkk exding may 31
Friday
May 31
Hid
Penn Co—( Continued j
Erie Ac Pitts gug 3*28 B.194G
Senes C
1940
Gr K<fc I ex 1st gu g4*2S 1941
Pitts Ft W & C 1st 7s...1912
2ti7s
1912
>11912
3d 7s
Pitts Y& Ash 1st con 6s.1927
Senes C guar
1942
Series D 4s guar
1945
Series E 3*2 guar g....l949
Senes F 4s guar
1953
C St E AC P 1st con g 6s.l932
Atl
Pensacola Ac
bee L Ac N ash
Peo Ac East bee C C C <& St E
Peo A Pek Un 1st g Os....1921
2u gold 4 Va
61921
Pere Marq—Ch«fc W M 5s 1921
Flint At P M g Os
1920
1st consol gold 6s
1939
Pt Huron Div 1st g 6s. 1939
Low
92
High
*114 Si
91
9»
91
10034
Feb’07
118
Mar’07
116
110*2
91
123 *8 Jan ’05
104*2
Apr’02
May’07
10034 Apr’07
100*2 Sep’06
110°b
hii B Ac W bee Penn itK
hila<fc Heading cons 7s.1911 J.D
Pitts Cm Ac St L See Penn Co
Pitts Cleve Ac Tol bee B Ac O
Pitts Ft W Ac Cii bee Penn Co
Puts McKees Ac Y b'eeN Y Cen
Pitts Sli Ac Li E 1st g 6s...1940
1st oonsol gold 6s
1943
Pitts Ac W est bee B Ac O
1997
Salt-
Mar’06
j’ly’97
77
97
9678
94*4
95*4
92*4
96a4 May’07
1997
93
94
Jersey Cent
coll g
4s...1961
Ac
bee
Rensselaer
78 May’07
98\
95*4
90*2
Bar
L> Ac H
Rloh Ac Can bee Soutli Ry
Rich At Meek bee Southern
Rio Or West bee Den Ac Rio Or
Rooii Ac Pitts
bee B K Ac P
Rome Wat & Og bte N Y Cent
Rutland bee N Y Cent
^ag TTus Ac 11
bee i'ero Marq
Jo A Gr lal 1st g 4s
1947
St Eds Cairo
bee Mob Ac Ohio
St LA iron Mould
bee M P
St E K C tfc N
bee Wabash
J.J
St E M Hr bee T R K A of St E
St Louis Ac S au FranciscoGeneral gold da
1931
General gold 6s
1931
St E Ac S F KK eons g 4s..’90
Southw Div 1st g 6s..1947
Refunding g 4«
1951
-
90
90
*
1097h
89
Apr’07
May'07
91
102
Feb’o7
98
Nov’OO
8b V
•110*2
79 *4 Sale
St Puui Ac l)ul bee Nor Pacific
St Paul M Ac Man 2d Us... 1909
1st consol gold Os
1933
103*2
131
Registered
1933
Reduced to gold 4*28.. 1933
107*2
Registered
1933
Dakota ext gold Os
1910
Mont ext 1st gold 4s....1937
Registered
1937
E Minn 1st div 1st g 5s..l90b
Nor Div 1st gold 4a.... 194s
Minn Union 1st g Os....1922
Mont C 1st gu g Os
1937
99
100
Cent Pac 1st ret
Registered
.
20
77J4
110
111
May’07
97
91*8
97*2
a i
82
95
79*2
83
103
May’07
L31
131
Dec'06
134
107 a6
107°8
103
131
1050b
131
10708 108*2
Apr’01
Mar’07
I0d7s 107 *4
97*2 100*2
May’07
Oct ’03
100*2 100S,
May’06
Apr’07
130*4 May’OO
115 *2 May’07
115 *2 Dec’00
84 *2 83 *2
84 *2
105*4 106 *2 1 u6 *2 Feb’07
110
Oct ’05
10
83*2
71*2
90°g
88
130
131*2
112”
115 *2
717*
9034
72
8234
90*2 100*2
Jan’07
89
88
109*2 Mar’06
100
Mar’07
100
110
100
ibo*‘ iub"
88
AT 949
gu g 4s 1949
1949
89
94T baits
84
80
Jan ’05
Mar’U7
8.8
88*2
88
94
May’07
99
M ort guar gold 312S..AT929
Through St E 1st gu 4s ’54
Gai Hiir Ac S A 1st g Os..1910
Mex Ac Paclstg5s....l931
Gila VGdcN 1st gu g 5s. 1924
Hous E As W T 1st g 58.1933
1st guar 5s red
1933
11 Ac T C 1st g 5s int gu.,1937
Consol g Os int guar...1912
Gen gold 4s int guar..1921
Waco Ac N W div 1st g Os ’30
A Ac N W 1st gu g 5s
1941
85
95
Jun ’07
85
111*4
•108
93
110
Sale
1003e
99
80
98*8 98*e
103
105*2
LU5 *2 100 *4
Apr’o7
107*4 10034 May’07
110
106^ J’ly’OO
102*2
107*4 Feb *05
104
Aug’OO
111*2 May’07
113? Jan ’07
109*4 111 *2
112
94 70
111
92
93
93
110
Dec ’06
109*2 Feb’OO
MISCELLANEOUS
J-J
A-0
F-A
A-0
F-A
J-J
J-J
A-O
A-O
M-N
J-J
Repub IAS 1st A coltr 5s. 1934 A-O
U to Eeath Co si deb g Os.. 1913 M-N
U S Realty A I conv deb g 5s’24 J-J
U S Steel Corn—) coup ,dl963 M-N
Sf 10-60 yr 5s. ( reg ..ofl96S M N
Va-Oar Chem col tr os g.,1912 A-O
Westmgliousc E A M s f 5s ’31 J-J
No price
96
91
93 V Sale
88 V
99
89
83
70
92 V
103*4
78V
93 V 289
25
71V
953b Sale
93-Th Sale
Friday; latest bid and asked this
99
71*2
79
97*2 100
3
9S34
9SV
7
947g
83
70
96
83
6
83
70
95
Apr’07
Apr’o7
lOJVMay'OT
78V
78*4
*37
91
36
80
90
121 103*2 108*2
92
5
88
82
105
8S
88
100
100
97 V Oct ’05
95 V Sale
.
.
.
.
a
m
_
.
102
83
70
97
I0234 106*4
77
10
99V 569
9d*4 14
97
May’07
93 V
\
93 V
95*4
95 V
week.,
.•
J-J
J-J
M-S
J-J
J-J
J-J
J J
101*2
107
1o2*2
114*2 Dec’04
110
May’07
Mar’07
1U4
•
80
89
J-J
1
1 10*2
J.J
j-j
91*4
9u
1111..
V’amlalia consol g 4s ....1955
110
ill
Feb’07
93»i
96
99
94*s
99*2
97
99
1*3*4
97*2
Due Jan
116
....
107*2 107**
32
90*4
13 107*2
....
....
.
.
.
....
95
113*4
88
94
113*2 116
91
94*«
111
111
112*2 113*8
9 115
....
....
....
....
117*4
110*2114
68
69*4
117*8 119*4
110
11834
...
....
ill*2 1*13
103
103
Mar’07
....
106
106*i
Oct’00
108*2 l>ec’Ub
Dec’05
113
107*8 May’07
107
May’07
90*8 Jan ’07
108 *a
May’07
117
J’ly’OO
108
Jan’07
111 *4 May’07
93 *2 Jan ’07
Dec’00
111
1143,
io64 ill
t
...
....
....
_
^
.
107
110
94j4 96*8
108*2 109**
108
108**
111*4 117
93*2 94
....
13 114
116*2
Nov’OO
Mar’OO
92
110
118*4
...
100*2 Nov’04
111
Apr’07
111
Muy’04
102
May’07
91 *2 May’07
80
Apr’07
86 *2 May’07
78*4
95
110
....
....
78*4
3
Dec’Ob
Mar’07
....
ill
111
100*8
9034
102*4
97
89
80
85
87*2
82
78*4
*
no
110
93
Sep’06
100*2
101a4
99
Apr’uV
99
May’07
119*8
111
90
993b 102*8
98
101*4
978a 99*8
1 1173* 126
133
....
«...
113V
May’07
....
91
49
8734 Mar’o?
103 *2 Feb ’01
HO
J’ne’uO
111
83
114
8734
-
*
*
-
103
94*4
«7*4
103*8
....
1027e Feb’OO
98
Sep’06
no
no
J-J
63*4 May’Oi
61*8
t>2 *
('
11
2
1U8 * 1
IOL*-.
Nov’OO
106
111*8
107*2 114
99
101*8
....
76*4
20
57
57 V 75
101
102
~
L02
Mai’07
93
Mar’Ot
0 la4 Sale
54
6 l *8
6134 30.
67*a
107
109
109
106j4 110
Apr’07
97
Nov’Ot
80
SO *8
80
Feb’o7
Lee’06
9734 93
100 *4
loo
V 100
100
102
71
73
1
73
69 V 80
75
biiic
sLo
i
20
32*8
102
.
.
J-J
J-J
.
....
J-J
A-O
M-S
......
A-O
J-D
J-D
71 °B Sale
A-O
A-O
J - J
J-J
A-O
105
7 4 *s
75 k
54
May’07
106 *2 Aug’U
0
74
54
....
82*8
68
34
Feb 07
111 VI 15*8
.9o
93*8
34
34
110*2 108
Apr’07
(08
110
Deo’06
1 11 *2 Aug’05
83
May’O'.
83
lU’e 115
89:,4
114 *3
90
cil943 Nov
bee South
107
116
Feb’05
98
100
112
95
Income os
Wedt No Car
107
1033a-*04
112*2May’07
103
May’07
107*2 103
H*734
101*2 lbiaa
M-S
J -J
103*2103*8
104*4 104^
.Oct ’05
96
J-J
1943
....
ilS3^ Apr’Oil
Debenture series A
1939
Certilicates of deposit....
Series B
1939
Certilicates of deposit....
1st lien equip s fdg5s..l921
1st lieu 50 yr g term 4s. 1954
1st ref ami ext g 4s ....1950
Det A Ch Ext 1st g 5s..1941
Des Mom l)iv 1st g 4s. .1939
Cm Div 1st g 3 *28
1941
Tol A Ch Div 1st g 4s...1941
StChas Bridge 1st g Os.1908
Wab Pitts Term 1st g 4s. 1954
2d gold 4s
1954
Warren bee Del Eac A West
Wash Cent bee Nor Pao
Wash O A W bee Southern
West Maryland 1st g4s... 1952
Gen A cuiiv g 4s
1952
W Y’a Cent A P 1st g Os 1911
West N Y A Pa 1st g 5s.. 1937
gold 3-4s
....
112*2May’U7
115 *8
115*8
110*2 Mar’O".
68
Jan’07
117 *« Apr’o?
11734 May’07
i 12
101
98
114
Nov’Oti
89
May’07
113 *2 May’07
89
May’07
113
Jan’00
90
J’UC’06
J’ue’Ob
92
M-N
F-A
lieu
,h*j
Apr’07
1939
1939
Wabash
1st5sgold os
2d gout
JligK
....
105*2 107 *2 Feb ’07
104
Sep ’oO
90:*e Sale
90*4
*90*2
107 *2 Sale 107*2
108
M-S
J-J
_
Nov’OO
Feb’tr;
AJar’oi
Apr’07
104*4 Feb’07
M-N
Since
January X
Sep’06
iol
104
A-0
A-0
T
Range
0 0
May 07
May’07
-
-p
-r
-
Ry
Wheel’g A E E 1st g 5s...1920 A-O
Wheel Div 1st gold os..1928 J-J
Exteu A Imp gold 5s...1930 F-A
RR 1st consol 4s
1949 M-S
20-year equip s f 5s ...1922 J-J
Wilkes A East bee Erie
Wil A Sioux F bee St P M A M
Wis Cent 50-yr 1st gen 4s. 194 J-J
^
105
80
.
.
102*4 Dec’05
85 ^1
*66*2
85
‘v
108
67*t
(
1
89
34
BONOS—Concluded.
Miscellaneous
1
Aug’06
•71V 72V 71V
80
81*4 Sale
104
105 V 105
127
1)0
112
U1
82*2
103 *2
100
90
88
94
99
98*s Feb’07
92
lo5
l073e
85
88
Manufacturing A Industrial
Beth Steel 1st ext sf 5s..1926
Cent Leather 20-year g 68.1925
CousolTobacco 50-yr g 4s.1951
Distil Sec Cor conv 1st g 5s.’27
Int Paper Co 1st con g Os.1918
Consol conv s 1 g os
1935
Int St Pump 10-yr conv. Os T3
Knicker Ice (Clue) 1st g os.’28
Lackaw steel 1st g 6s....1923
Nat Starch MfgCo 1st g Os 1920
Nat Starch Co s t deb os..1926
111
101
^2
Jrliuh No Low
Ask Low
A-0
107
J-J
112*2
J-J
115 *8 Sale
M-N
ill
M-S
02
A-O
llf)34
J-J
J-J
117*2
103
J-J
95
Mortgage gold 4s
1945 J-J
Rich & Dan con g Os....1915 J-J
H23b
Deb 5s stamped
;.1927 A-0 101
Rich Ac Meek 1st g 4s...1948 M-N
104*4
So Car & Ga 1st g 5s. ...1919 M-N
Virginia Mid ser C 6s...1910 M-g
Series D 4-os
1921 M-S
Series E 5s
1920 M-S
General 5s
1930 M-N
Guar stamped
1930 M-N
68
W O Ac W 1st oy gu 4s..1924 F-A
108*2 110*2
West N C 1st con g Os.. 1914 J-J
S Ac N Ala
bee E A N
Spok Fails Ac Nor 1st g 6s. 1939 J-J
per A of St E 1st g 4*28.. 1939 A-O ibd
1 1st con gold 5a.... 1894-1944 F-A
Gen refund s 1 g as
937b
1963 J-J
108
St E M Bge Ter gu g 5s. 1930 A-O
Tex Ac N O
bee So Pac Co
Tex& Pac 1st gold 6s
2000 J-D 11434 Sale
90
2d gold iuc 5s
?2000 M nr
109
Ea Div B E 1st g 6s
1931 J-J
W Min W A N W 1st gu 5s ’30 F-A
•
Tol A O C 1st g 58
„
1935 J-J
Western Div 1st g 5s... 1935 A-O • 108
General gold 5s
1935 J-D 101
Uo
92
Kan A M 1st gu g 4s.... 1990 A-0
Tol PAW 1st gold 4s....1917 J-J
85
80
*4 89 *2
Tol St E A W pr lien g 3 *28-1925 J-J
7
8
A-0
Sale
*4
50-year gold 4s..
1950
90*2 97*2
Tor Ham A Buft lstg 4s./il940 J-D
IsterADellstcougos 1928 J-D 105
1st refund g 4s
1952 A-O
iol *2 Sole
Un Pac liR A i gr g 4s ...1947 J-J
9y
Registered
1947 J-J
Ore Ry A Nav con g 48.1946 J-D
9934
119
Ore Short Eine 1stg6s.. 1922 F-A
1st consol g5s
1940 J-J •110*2
Guar refund 4s
1929 J-D
90*2 Sale
Registered
1929 J-D
Utah A Nor 1st 7a
1908 J-J
103*8 ...4..
Gold os
1920 J.J
10034
Uni N J HU A C Co bee Pa RR
Utah Central bee Rio Gr Wes
Utah A North Nee Un Pacilic
Utica A Black K bee N Y Cent
F-A
era Cruz APlstgu4 *281934 J-J
07*4
Ver Val lud A W bee Mo P
81
87
100 *2 10834
90 *a Mar’06
107*4 Aug’oO
109
Range or
Last bate
121*8
Virginia Mnl bee South Ry
Va A Southw’t 1st gu 68.2003 J-J
71*2 72
9U34 Sale
Jridav
lib**
73
79
101 V101V
124
130
1937
82*2
116*2119
78*4 8234
100 7t 100 *2 May’07
110
93
75*2
101*8 Apr’07
110*8
107*4
l.-O^
100*4
104*8
1st guar gold os
193*
Wiii& S F 1st gold 6a.. 193b
St P Ac Nor Pao bee Nor Pac
St P Ac 8’x City beeC St P M <fcU
S A& A Pass lstgug 4s... 1943
6 Fe Pres Ac Pli 1st g 6s... 1942
S F i& N P 1st sink I g 6s.1919
Sav F Ac West
bee Atl Coast E
Scioto Val Ac N E bee Nor Ac \Y
Seaboarit Air Eine g 4s ...i960
Coll tr lefund g 6s
1911
Atl-Birm 30-yrist g 4s.el933
Car Cent 1st con g 4s...1949
Fla Cen os Pen 1st g 5s. 191b
'1st land gr ext g 5s ...1930
Consol gold 5s
...1943
Ga Ac Ala Ry 1st con 5aol945
Ga Cur «fc No lslgu g 5s 1929
Seab A Roa 1st 5s
1920
Slier Shr Ac So bee M K Ac T
Sli top Oca Ac G bee Atl Coast L
So Car A Ga bee Southern
South cm Pacilic CoGold 4s (Cent Pac coll). AT949
Registered
Saic
91
110*2
80
91
82
75
92
Sale
Gray’s Pt Ter lstgug 6s 1947
Registered
110*2
79 *4
92 *2
123*2 123*2
107
110*2
.
97
82
7 6 *2 Sale
90
*4 Aug’05
79 *4
80*4
6-year gold notes 4 V..19U8
St E M «t So East gu 4 Vgl909
K C Ft S Ac M eoug 0s..l92e.
K C FtS Ac M Ry rer g 4s 1930
KCA M RAc B 1stgn 5s. 1920
Oz’rk<fc Ch C lslguos g.1913
St Louis So
bee Illinois Cent
St E S VV 1st g 4s bd otts.1989
2d g 4s mo bond ctls...2)1989
Consol gold 4s
1932
May’07
123 *2
109
Mob& Ohio coll tr g 4s..1938
Mem Div 1st g 4*2-5s...1996
St Eouis div 1st g 4s....1951
Ala Cen R 1st g Bs
1918
Atl & Dauv 1st g 4s
1948
2d 4s
1948
Atl Ac Yad 1st g guar 4s. 1949
Col & Greenv 1st Os
1910
E T Va & Ga Div g 5s..1930
Con 1st gold 6s
..I960
E Ten reor lien g 5s
1938
Ga Midland 1st 3s
1946
Ga Pac Ry 1st g Os
1922
Knox Ac Ohio 1st g 6s...1925
Mob & Bir prior lien g 6s 1945
U034 115
10034 100*4
115*2 Mar ’06
120
98
1994
Registered
109
1 1o34
fSagTusds H lstgug 48.1931
Ot
So Pacilic of Cal—
1st g Os series E& F...1912
1st gold Os
1912
1st con guar g 5s...... 1937
S PacofNMex 1st g be..1911
So Pac Coast 1st gu 4s g. 1937
Tex&NOSabDivlst gOs.1912
Con gold 5s
1943
:0 Pac HR 1st ref 4s
1955
Southern—1st con g 5s
1994
10034 Dee’05
Wee re's
Hi a
J’ne’OO
108*4 108*4
109*4 109*2
Frier.
May 31
A-O
J-J
A-O
J-J
J-J
J-J
Oct ’0
Apr’04
May’05
May’07
s
r- fc.
Southern
92
98*4 Apr ’04
Sep ’00
109*4 Feb’07
112*2 J’ne’05
100J4 Mar’07
97
*
N. Y. STOCK EXCHANGE
Week Ending May 31
50 January
Apr’O
108
127 3e
119
119
110
108^ 10 3*4
lo7
107
107
Since
o®
Cq
BOND*
Range
22
Biah No
Low
92
Ask
103 V
PCC&StEgU4VdA...1940
Series B guar
1942
Reading
Co gen g 4s
Registered.
Weekrg
Range or
Last Sale
[VOL. LXXXIV.
Adams Ex col tr g4s
Am SS Co of W Va g 5s.
1948 M-S
...1920 M-N
B’kl’p Ferry Co 1st cons g 5s ’48 F-A
Chic Jc A St Yard col g 5s. 1915 J-J
9934 Sale
Det MAM lit gr incomes.. 1911
Int Mercan Marine 4*28.-1922
tut Navigation 1st sf os.1922
Man Bch H A E gen g 48...1940
A-O
A-0
F-A
M-N
Newp Ne Slap A D D os 1990 J-J
N Y Dock 50-yr 1st. g 4s.. 1951 F-A
Providenco Sec deb 4s.. .1957 M-N
Provident Loan Soc 4*28.1921 M-S
StJosepliStk Yds 1st4*28.1930 J-J
St E Ter Cupples Stat’n A Prop
Co 1st g 4 Vs 5-20 year.. 191 < J-I)
S Yuba Wat Co con g 6s.. 1923 J-J
Sp Val Wat Works 1st 6s. 1906 M-S
U S Red A Ref 1 st 8 f g 6a. 1931
b Due Feb
ti Due Apr
e Due
May
jDue J’ne
69
86
99V
99 V
1U034 J’ne’02
41
101
70
67 34
86
5U
90
88
May O i
Sep ’06
68*4
May’07
....
75
ioi
ibi
*67*4 70«i
85
8534
90
95
8734
88V
Feb’Ot;
90
S8
90
88
29|J 9S34 103
Oct’06
11
2
100V Sep '05
112
113 V
93 V
ADueJ’ly
93*4
p
j’iy’04
JTy’00
94 V
Due Nor
'*8
90
’ *§6~
«Optiott$Ale
CHICAGO STOCK
Monday
Tuesday
May 27
May 28
•34
*14
•
*35
*22
*68
*83
28%
*97
*27
5%
5%
64
•130
634 64
55
130 4 * 130
•127
128
127
71
70
73 4
•54
*130
127
•71
•104
40
89
109
62
*35
•87
*107
*60
•35
*37
40
39
*107
109
•50
62
•
¥
*08
*
*35
40
39
*36
*37
•107
*50
i*4
*i
1%
‘1
*0
*140
127
71
105
fr
109
*37
*107
52
*50
*84
*28
*90
2S
Last Sale
•6
*
42
89%
105 4 106
90
2
10
26
108
lOl^ 101%
•
l %
2
10
10
24
24
•
.
.
.
*a
178
97s
25 4
25 4
17S
9
•
170
*100
101
2
*1%
1
6*%
*138
121
122
109
xl 27
109
127
May’07 Illinois Brick
Nov’ 06 Knickerbocker Ice...
Do
Feb’00
pref
May’07 Masonio Temple
d<fe
Chio
Brew’g
Jau ’07
"
Apr’07
Last Sale 5%
Last Sale 99 4
Last Sale 40%
May’05
J’ly ’00
90 4
105
•105
106%
Friday
May 31
may 31
board 1st Os.. 1911
Cass Ave <fc F G (St L)—
J-J
Chic Consol Br &
J-D
J -J
MltOs.
*
4
-
1004 Sale
99
J-D
55
01
J-J t
A-O
100
F-A
A-O
1U0
101
>aiy.West
Nov’08
Jan ’07
'it
41
Low
No.
Clue Pneum
1st 5s
Tool—
a
Common wealth
City By A- Bt Co
Kmckerb cker Ice 1st
Lake Street El—
M-S
5s. 1913
5s.‘
Income os
Metr W sme El—
1st 4s
Extension g -is
North Chic St 1st 5s
1st 5s
Refunding g 4 4s
No Chic City Iiy 4 48
North West’11 El—
1st 4s
t May
respectively.
Dep National
Englewood state
Federal National
Drovers
Noy’06
1 (III Lu
Apr’07
1O1
SO
80%
101
Feb’00
80%
SO 4
79
Nov’04
80
Apr
101 4 101
81%
77
9
*04
100
101
Dec *06
102%
98%
J-J
Feb
91
90% May‘07
90
93%
1938
1938
1909
...191 o
1931
...1927
1911
4s....1911
F A
J-J
J-J
J-J
88
to
90
85
...
89
90
M-S
93 4 Sale
M-N
J -1*
'97”
M-S
‘.'8
M-N
99
M-N
A-O
it 'i
M-S
J-J t
102
J -D (
101
M-N
9.4
Sale
J-J
10U
100%
J-J
99%
A-O
M-N
70 4 73
M-N 1
91%
F-A
J-D
M-N
1909
A-O
48.. 1932
J-J
t
SS
May’07
81
DO
84
Dec’00
79
75
Aug’OG
Feb’07
90%
88
80
6
85
North Side State Sav..
Oakland National
Prairie
National
State
Railway Exchange....
South Chicago Savings
Security
Bank of Chicago.
Stock Yards Savings..
state
9u
M-N
1930
National Dive Stock...
North Ave State
Prairie
A-O
1914
Kaspar state Bank....
.Monroe National
National City
90%
1926
First National
First Nat Englewood..
Foreman Bros B’k’g Co
Fort Dearborn Nat....
Hamilton National....
Hibernian B’k’g Ass’ju
Mutual Bank
Nat Bank of Republic.
May’07
99% Nov’00
Os
70
80
90
93 4
89 4
93 4
10
1
98
Mar’07
98
89 4
90%
92
95
i
Apr’07
May’o.7
Apr’07
102
101
103 4 Feb’00
98
98%
100 78 May’07
99
May’07
71
90
May’07
May'07
72 4 Dec ’00
71
71
87
Dec’00
90 4 Jau ’0t»
be! added to all Chicago bo
Amer
Trust
*
97”
98
994 Sep’00
118. Nov’00
100
Bank of Chicago
Slock Yds Stale
Savgs..
Central Trust Co of Hi
Union
Union
75
75
M%WOd
97
12
‘
102 4
100
103
104%
101
102
100 4
Us
102 4
100
4
98
100
tJ5
85
i
97 ‘
98
70
75
90
78
Citizens Trust 6a Sav..
Uolomal Trust cfc Sav..
&> Sav..
Savings
Harris Trust «fc Sav ...
Illinois Trust
Sav..
Kenwood Tr <fc Savings
Lake View Tr & sav..
Merchants’ L’lufcTrCo
Metropolitan Tr* Sav
Northern Trust Co....
Northwest Tr * Sav...
Peoples Trust * Sav ..
Pullman Trust * Sav.
Royal Trust Co
stockmen’s Tr* Sav..
Drovers Trust
First Trust <fc
U mou Trust Co
Western ’Trust «fe
W Side Tr & Sav
nd
4,000.000
50,000
3,000,000
200,000
000,000
200,000
600,000
8,000.000
100,000
500,000
1,000,000
500,00U
1,500,000
200,000
300,000
250,000
2,000,000
1,500,000
1,000,000
200,000
50,000
100,000
250,000
C5 00,000
250,000
200.000
300,000
1,000,000
294 J’ne
74 J’ly
144 Mar
34J’ly
Frodts\
Mar
Deo
Oot
Mar
Mar
444 Feb
14 4 Mar
20% Nqt
4%O0*
In
Her
Last Faid
1905
1906
IOU
%
8
8
5
10
12
8
0
<J-J Apr
J-J
J-J
Q-J
12
<+J
i+J
5
10
12
8
0
534,93.
5120,07 8
4.194,047
2,884,120
5 7,356
4,505,691
38,783
344,077
531,488
12
0
8
7,056.070
5 144,834
030,0? »
39 1,581
187,400
1,111,302
12
10
•
®
a
10
52,009
,
3
0
d
8
8
54
7
5n88,329
fcJOO.OOO
500,000
200,000
Sav.
Bk..
Bk
200,000
200,000
y-F
Feb
Jan
y-J Apr
’07, 1
’07, 4 4
’07. 2
Keb 6, 1907
301,939 Began busin ess
’07. 3
1,327,039 12+3 12 + 3 y-J Apr
Wee 8, 1900
55i,,5si Began busin ess
0
y-J Apr ’07. 14
0
54.472
0
y-J Apr ’07, 14
0
34,325
09,000
8
1138 y-J Apr ’07, 2c
55,933
14,580 Began busin less July 3, 1906
5
y-J Apr ’07, 14
4
504,577
83,778 Orga nized DCt 12, 1900
8
8
y-J Apr ’07, 2
1,008,513
2,510,839
1,500,000
209,090
200,000
’07,
’07,
y-J Apr ,’07,
....
....
2.000,000
n 500,000
50,009
4,600 000
200,000
200,000
3,000,000
750,000
<+J
®
8
3,000,000
1,260.000
<+J
Priv ate Ba nk
0
0
y-J Apr
F-A Keb
None
000,000
200,000
2,000,000
y-J
ess
10+10
597,778
573,377
1,178,004
y-J
0
8
3
busm
12
7/,935 Began
’07,
3-J
5145.204
250,000
200,000
200,000
1.000,000
1,000,000
Wood lawn TnfcSav
<
Dividend
....
ibo
538,345 Began May 1,
0
y-J
550.0*26 None
990,474
57,893
530,791
75,200
939,058
536,900
’07, 134
•mm
....
10
0
....
....
orga nizod
12
12
0
0
8
8
y-J Apr ’07, 2'
y-J Apr ’07, li
....
253,257 Began busin
7,922,842 12 + 4 12+4
533,435
524,905
4,273,852
330,410
1,709,930
y-J
y-J
...
•
5 +5
0
Orga1 nized
ess
Feb
*4,* *1907
May ’07, 1
Jan
’07, 14
Not 18, 1905.
U
....
y-j Apr '07,
y-J Apr TJ7,
y-J Apr ’07,
J’ly 28, 1900
553,395
8
8
Q-J Apr
8
y-F Keb
0
5545,093
it
M aroh,
50,239 Inoor porale
5898,992
0
0+1 y-j Apr
291,071
ese
yep
520,922 Bogan busin
0
y-j Apr
524,832
3250,602
...
....
....
’07,
’07,
1905
*’6*7*,*
14
5, 1905
’07, 14
price s.
Bid and askod_
pnoes;
nocashsaldiesvidwots
$.
<
550,
0
00,
a
en a
$500,000,
a
stock
di
v
i
d
end
of
331*
$2,000,000.
and 22$2,000,000
of date March
and Marchadded23,
5! Includes special dividend
30% cpaid
Dec.increased
18, 1900.Jan.* 1.1907 from
DuoofJnna.
Capital
declared and to be takou as pa ~r payment for now stock. 6 Due J my. k Capital to be increased to
o Capital increased from
in part payment therefor. . n Capital and surplus to be Increased.
20, for National Banks, and May 21,’07 for State institutions, except those designated (}), which are
paid Q-J, with extra payments Q-F.
No price Friday, latest price this
made on this day.
f
of 30 per cent being
p c. being declared
surplus,
01
55
97
Note.—Accrued interest mus
|j Dividends are
Drexel State
90
People’s Gas jL A C 1st Os. 194'3
Refunding g 5s
1947
Clue Gas Lt cfe C 1st 5s..1937
Consumers’ Gas 1st 5s.. 1930
Mutual Fuel Gas 1st 5s. 1947
South Side Kiev 4 4s.
.192 1
Switt A Co 1st g 6s
1914
Union El (Loop) 5s
.1945
Debent Os
Consol g 5s
West liiv City Ry 4
West’rn btoue Co os
’(>4
May 07
21
J’ue 23
94
02
May
1i3 4J an 119
95
78
Jan
112
Dec 122 4
in
Surplus d
100,000
500,OOt
o3.000,000
Continental National..
Cook Co State Savings
Corn Exohauge Nat...
8 1101% 102
101
100
97
....
Union Pacific conv
United Box Board
CommerciafNational..
97
.
K
F
_
.1 -D
1910
4-4Us
_
1UU
M-N 1
A-O
1945
Ogden Gas os
Pearsons-Tal t 5s
iuo
1% May
Feb
80
48
Sep
2 4 Feu
Trust Conma
$2,000,000 $1,249,848
National
National
Chicago City
May
* 2*6” Jan 3*2
1
ing
Bankers
Calumet
98
M-N
il-S
Elect-
Kans
4"00s Series
4-sOs Series
J-J
1921
164 Apr 15
Stock t
High
Feb
40
32 4 Jan 24
32 4 Jan 24
NAME
....
Apr
,
985
52
Outstand¬
Mange
lor year
1907
96% Jau ’00
87
llo
1,100
20
lubl
7*94
8*84 J’ly 93 4 May
50
Aug 03 4 Deo
Jan lo
Apr 17 57
Sep
924 Noy 99
Jan 20
8834 Apr 17 05
119 4 Sep
Marl 5 113 Hi Jan 10 1014 Jan
101
115
May 152 -2 Jan
133
Apr 9 173 Hi May 3
99 4 Dec 1004 Feb
98 4k Apr 9 102% Jan lo
24 Jan
4 Dec
2 4 Apr 8
1
Jan 2
5 4 Dec
174 Jan
0
Jan 2 12% Apr 8
42
Mar
24
May27 30 Feb 14 28 Dec
Chicago Banks and
100 4
May’o 7
A-0
J-J
4l
.100
May*07
100 4
100 4
10 L
pref.
Do
40
40
100 2,100
25
Sale 704
sale 4
Mar’07
103
01
100
Not’OO
ibo
100
100
Quaker Oats Co. 100
pref
100
9%
.
_
320
302 111
70
107
Do
2
Jan 11
2 4 Jan 23
27
Mar 4
80
Jan 14
May 28 117% Jan 7
Apr 18 8414 Jan 11
Apr 9 120 Jan 17
Mayl5
2% Jan 23
26
Feb 5
7334 May20
46
100
Sale 10
....
F-A
J-J
100
Roebuck com. 100
pref
100
f**Co
1
100
nv
iYUnin
50
ham Con Mining
ling?ham
5
Back Mountain
High
Ask Low
Bid
44% Feb
100
25
Sale 32*%
Week?*
Mange or
Last Sale
Fries
«S.°
Chic Kdisoo—
...
Do
1004
•24
20
100
Do pref
100
Wo Wlr
s Gas L&O’kelOO
17o
9%
100
100
100
100
m
May’07
90
100 4
•1%
TS
Amer St raw
Chio Edison
Clue Pneumatic Tool.
Chio Telephone
Chio Title A Trust...
Diamond Match
143
May’07
Bond Record
(0
Week Ending
Do
Last salt 111
Last
Last
Last
Last
BUNDS
100
Co
pref
100
Cal & Clue Canal <fc D100
Mar’07 Central Trust Bank.. 100
M ar’OO Chioagc Auditorium...
May’07 Chic Brew’gdfc Malt’g..
Do
pref
May’07
16
94
94
‘24
100
100
100
100
Last Sale 45
Last Sale 2 4
Do pref.
May’07
Last Sale 25
itional Biscuit
74%
74%
Do pref
1114
*1104
May’O/ National Carbon
Last Sale 7i
42
•40
90
90
lot 4 105 7a
106% 100
¥
170
•
1014
*25
*40
*89
89\
100
10S
9%
42%
*4(i
42 4
90
*40
•89
106
108
101
2
422
Booth (A) &
39
a
-
•
0
114.Tan
J’ne
7 *4 Apr 11
Jan
51
J’ly 72
GO
Apr 10
130
Nov
Feb
133
Feb21 115
J an
130
130
Apr 2 4 128 4 Dec
81
Nor
4 an
54
80 Hi Jan 11
Nor
Jan 112
109
Jan 7 101
Feb 31 4 Deo
17
10
Mai 28
40
Feb
Jan
30
38 Hi Feb 1
wet 113 4 J’ne
111
Feb 8 100
04
Keb
M
55
ay54
Jan 8
Mar 13
50
May
Feb 27 108 ^ May 175
Feb 27 105
105
10
Feb 10 4 Feb
1
Mar
1
Mar
1
J an 9
1
Jan 9
7
Jan
6
Nov
0l4 May 10
J an 9
0
165
Feb
J’ly
50 129
Mar2l 149 Apr 3 130
03
Feb
48 4 Dec
Feb 8
40
Marl5 51
Jan
Apr 139
115 Hi J an 2 134 Hi Apr 4 101
Jan
May 118
10214 -MarlO 112HiMuyl3 103
Keb
J’ne 147
119% Jan 24 129 Hi May 15 118
41 4 Sep
57
May 2
4% Jan 25
43% Marl5
Jan 7
120
2*5 L*22Hi Mar28
200 03
Mar20
10 i >2 Apr 10
30
Jan 2
Apt 20
25 34
100
Apr 20
210
100
—....100
Amer Radiator
Do pref
Amer Shipbldg
Do pref
Amer Straw Board
Apr’07
Apr’(>7
Last Sale 55%
74
73% 74
111
111
111
*71
73%
73 4
115
*110
115
74
*74
7434
76
111
11234 112% 1114 112
734 *71
734 *71
*72
*111
115
•111
115
*112
75
54 4
Apr’07
Apr’07
39
767
52 4
165
si Sale
Last s ale So
pref
Do
127
75
Last Sale 40 4
•534
100
100
Miscellaneous
5% American Can
May’07
Last Sale 130
•125
•70
Last Sale Wo
Last sale 38
•0
64
04
•
142
143
143
4 L
*39
41
*39
4 40
41
*40
•1204 122
*120 4122
•120 4 122
122
122
111
111
no
•
*108
110
1104
*109
129
128
128 4 127% 127% 129
♦12734 109
64 4
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•
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prei
West Chic street
99
May’07
5%
544
Last Sale
Last Sale
Last Sale
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Last Sale
Last sale
100
pref
Do
844
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Do
pref
100
May’07
May’07 North Chic street. ...100
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Do
pref
100
MayO/
100
85 4 South Siue Kiev
29
StreeteW Stable C L 100
Last Sale 24%
Last Sale <54 4
Last Sale 36
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14
04
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14
04
143
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143
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105
40
39
109
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100
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Highest
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200
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5 150
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74 Jan
5
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16
41
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4
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125
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54
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Jan 10
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85
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83
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28
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24
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04
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85
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75
27
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23
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97
99
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96 Hi Feb2>Feb
23
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100
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19
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180
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MEMORIAL DAY
180
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30
30
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Friday
May 31
Thursday
May 30
Wednesday
May 29
0/ the
Mange tor
Year
Mange for
1907
Sales
STOCKS
CHICAGO STOCK
EXCHANGE
LOWEST SALE FM1CBS
8TOCEh-HlQHMMT AND
Saturday
Hay 25
EXCHANGE—Stock Record—Daily, Weekly and Yearly
week, a Due Deo. 31. a
BOSTON STOCK EXCSANGrE—Stock ileaord, Daily, Weekly and Yearly
*kuu*e
A*rices—Mot For Centum Frioea
Saturday
Monday
Tuesday
May 25
May 27
May 28
Wednesday
May 29
Thursday
BOSTON
Friday
May 3i
May 30
EXCHANGE
Mange tor J-reviout
Year (10U6 >
Mange tor Year
Sales
the
Week
Shares
1907
of
STOCK
Lowest
Lowest
Highest
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87
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pref 100
Old Colony
100
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100
195
Jan ’07
Last Sale 56
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90
90
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& Wor
Jan ’07
30
Do
100
pref
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May’07
Do
96k
96k
100
pref
100
134k 1347g Union Paoifio
Do
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Apr’07
pref
100
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86k
60
80k West End St
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.....
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.
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jllOkSep
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7
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Dec •257 k Feb
1239
......
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Ohio June RyAUS Y100
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May’07
pref
100
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126k Fitchburg pret
100
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78
Do
S5
pref
100
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100
Mass Electric Cos. ...100
*16k
17
Do
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-;..100
Last Sale 60
May’07
100
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Last Sale 19k
N
Y
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164
163k
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X
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100
152
May’07
Last 8ale
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192
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162
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231
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7
170
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165
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15
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63
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10 145
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110
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Feb 13
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166
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io 14 k Mar22 2ukJan 9
65
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52
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Boston Elevated
100
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Boston dfc Maine
100
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Apr 5
lk Jan 24 •40 J’ne
May’O.
Last >ale
Nos
13
11)
Ilk
333
Mur27
12
12
l4 3 (ill !u4
10.
10k J’ne
13
845 12 k May23 24k Jan
13
54 k Mai
.Hat 20
96 s J an is
01 5 08
84
84
Mohawk
261
1 k Dec
3 k May 7
20
lk Jail lb
iana ConsolC& C lo
•27e
3k
11
J an
13 k May 2.
45o
13 k
13 k Nevatla Consolidated
2uk Jan lu
5
Ala. 20 l2o
74k Mai
82 k
Jan 5
83 k North Butle
1511,3;
11,334 72
•70
i
Mar
14
2
•1
450
J’ly
k J an 4
Colony
25;
33
Alai 20 03
Feb 14
47 k
Dominion
J’ly
25i 2,603 30
43 H
93 • Mai
Mai’2t Lb L
115
Feb
21
126
305
125
ola
25,
22 k J’ly
Jan 14
•19 k
590 10k Alai26 35
21
Parrott(Silv
Copp) 10:
1
Jan 6
100
*1
t3
Jan 2t, •60
Mu)
lk Pliceuix. Consol
25
80
J’ly
114
110
Quincy
25; 1,476 108 Mar 25 148 Feb 6
5
3k
5k
470
May 21 f 12k Jan 16
J’ly
6 k Rhode Island
25
1
J ’ly
2
k
k
7
k
J
2k
555
May22
an
b
2 k Santa Fe(Gold<fe Cop) 10*
5k
Jan
14k
Mar26
24k
Jan
Shannon
17k
18
loj 4,229
90
J’nt
Alar26 170
Jaul4
165 100
no
in
Tamarack
25:
40
Alas
30
30k MayJV 55kJan b
Tennessee
25j
7k J’n*
21*4
21k Trinity
25 3,37b 1470 Mar26 42k Jan ‘i>4
United Copper
100: 1,195
1,105 53 Alar 21' 77k Mar 7 57k Mu)
88
Jan
Mar 16 01
15 07
May 1
ff.'.
Do
pref
I00j
1'
9 k Sep
9 k Alar 15
13 k J ati 22
10
10
Unit States Coal <fcOil 25; 2,076
51
Alai
1,156 50 ,Alari4 70 Jan 2
U S Smelt Ref.&sMin. 50
43
Ala:
44
44
Do
pref
50 1,956 41k Mar U 4 9 J an 7
52 k J’nt
Alar 1 4
Jau 14
79
59
69 k Utah Consolnlated...
5! 4.981 51
0
Mar 15
57e No'
•7
7 k Victoria
Ilk Feb27
25 1,540
1
•60
Jan
3 k Alar 0
150
•1
May2i
Washington
25
4
7
770
14
Jau 23
k Mari 4
J’ly
7k
25
7 k Winona
131
Jau
150
198
11
276
Apr
15
Feb
155
157
Wolverine
25
•70
3
J’ly
k
Jan
22
l
1
1
490|
1 May 2*2
lk
Jan
Jan
J’ly 118k Mar
Nov 34
Apr
Jan lo Aug
Dec 260
Dec 184
44
Ala) 04k
00
84 k Dec
190
Mai 210
3
Jan
5k
27
Alai
60
00 k
8U
Alai
12 o
Dec 141 k
ibO
Dec 208 k
11
9 k J an
10lk J’ne 120
22 k Dec
23
26
J’ly 27 k
2
J’nt
5 k
'
20
58
Before pay’t of asses.Vts called In
14k
k
12
13
9
17
*50
16k
128k
*
*14 k
6 k
6
k
......
21k
69
43k
*
k
12
-lk
ID
130
14k
66k
6k
*4
835
835
28
28
•42
-42
79 k 80
*10
1014
16
V
36
80
210k
189*9
68k
•46
•50
26
26k
24 k 25
160
164
lk
lk
15
^k
•
k
11 k
8 k
17
i
12
6k
61
«
1
16k
49 *4
1*4
86k
15
43k
160
84k
34 k
50k
♦5 k
k
-•40
-60
25 k 25 k
23 k 24 *tj
160
164
830
830
•27
27k
•42
*42
ik
......
*1
*8
*k
•k
*llk
8k
16k
6Uk
16k
16k
130
14 k
•*
86 k
85
66 k
ok
16
*5 k
140
7k
6
46
15 k
22
134
*1*4
117 k
117
6*4
Ok
*2»4
3
18*4 18k
115
*110
*
66k
2k
46
16
*21 k
•10
61
84
35
2k
2k
48
15 k
1
21
•68
2k
*
16
16 k
14‘x
85 k
k
•135
2k
49
16k
15*2
6
*4
*27*
•13 k
85 k
1
2k
*
Amur Agrieul Chem. lOO
Do
pref
100
er Prieu Serv
8k
60
10
Do
pref
50
May’07
May*07
May’07
May’07
May*07
•206
ks\ko ! O Cl
*46
79 k
8k
19
*120
•122
18*4
*7k
8k
•7k
8k
*7k
8k
210 210k
•206 210
210
211
137
137
136 188
188k 1^0
60
60
60k 66k
60
60
84
84
84
84
84k 84k
*200
208
*206
208
206
206
»
•2k
*2k
3
2k
2k
•
60
*47k 60
47k 48
*
88
84
84
88
*66
116
116
116
116
116
116
160
161
163
162
164
162
9k 10
*9k 10
9k
9k
106 k 106
105*4 106*4
106k106
•20k 21k -20k 21k *20k 21k
26 k
26 k •26
*26
26 k *26
*2k
2k
•2*4
3
2k,1073*8
k
107
106
107k
107 k 107 k
68
68 k
68k 68k
68k 60
27k 27k
27k 27k
27k i7k
82 k 38
31k 32k
81k 82k
97k 97k
96k 97k
96 k 97
7k
-Ok
-6k
7k
7k
*6k
70
70
75
•70
*70
76
tio 212
1897»141k
60
mmm
79*g
80
8k
dividend
Deo
2k Dec
1
ISUM»
|££
i£v
EXCH’GL
BOSTON WrOCK
31
Wisk Boon May
Price
Wee/ds
Friday
May 31
Mange or
Lent Sale
Aik
98Sale
814 82 4
Bid
LepE
Toiep A Tel coll tr 4a. 1920
Am Writ Paper 1st a 15s g 1919
A tell A Naiuraaka 1st Ts..l90S
Am
97
4s.. 1996
Adjustment g 4a.... J’ly 1906
Stamped
J’ly 1995
Boston Elect Light 1st 6s.1908imConaoi 5a
192 4 [MBoeton A Lovreil 4s
1916
Boston A Maine 4 4s
1944
Aten
Top A H Fe gen g
SalV
1I87V May’07
86V
86V
86 V
llo * Feb*04
101
Sep’06
Mar’Ofl
114
112 4 Jan ’OS
106 4 Apr’07
102
Sep’05
99 V OCt ’06
100
J’ue’01
123 4 Nov’()6
Siulung tumt 4s
1910
Butte A Boston- 1st 6s
1917
Cellar Rap A Mo R 1st 7s. 1916
2d 7s
1909
Cent Vermi ist-g4s..Mayl920
0 B A <4 Iowa Div 1st 6s. 1919
Iowa Div 1st 4s
1919
Debenture 5a
1913
Denver Kxten 4s
1922
Nebraska Exten 4s
1927
B AS W at 4s
1921
Illinois Dir 3*118
1949
Joint bonds See (it Northern
Ohio jo Ry A Stic Yds 58.1916
Coll trust refunding g4s!940
Ch Mil A St P Dub D 6s.. 1920
Oh M A St P Wls V div 6&1920
Sale
86
101
....
Saturday
May 96
10*6*4
97*4 *974
914
4
90
100
102 4
944 96
Seattle Elec
Terre Haute
97 4100
100 4 102
Monday
Tuesday
Wednesday
May v?
May 28
May 20
Wisconsin
96
92 4
May 31
Con. Gas
•9<J
91
•90
914
»
•
•
•mrnmmrn
•11
60
874
«v
*114
49 4
36
494
86*4
864
•97»
10
10 4
*104
61
81
68 4
604
694
834
•57V
22 4
23
22V
40 4
40
40
•39
674
68
89
*26
4
67 4
90 4
30
Bell
36V
30
814
604
100
50
Cambria lion
60
Central Coal A Coke. 100
ConsolTraoof N J...100
Diamond State Steel.. 10
7i*i0
22 4
*384
Easton Con Electric
Elec Storage Butt
0.50
100
52
47
48
724
61
49
50
100
Keystone Telephone
Preferred
20 4
2 L
74
..50
50
KeystoneWatcliCase.100
Lit Brothers
10
Little Schuylkill
60
Mluelnll A Scliuyi H..50
N Haven Iron A Steel.5
Northern Central
50
North Pennsylvania..50
90
Pennsylvania Salt
60
Pennsylvania Steel.. 100
Preterred
100
Phlla Co (Pitts) pref...60
Phil German A Norris.50
Phlla Traction
50
Railways
General
Susqueh Iron A
Tidewater Steel
Preferred
United NJ RRAC..100
Unit Trac Puts pref..50
Warwick Iron A Steel.10
West Jersey A SeaSh.60
Weatmoreland Coal....50
Wilke* Gas A Elec..100
Bid and
914
o
r
9
82
*19
$4
82
614
M
E.
41
8
j
22V
49 V
;
40V
J
;
j
\
\
*
39 4
58
90 4
21
10
82
*30
•58
90 4
•27
Lake
15V
*7
ueked prices; so
15 V
7V
Penn gen
6s r 1910..Var
People’s Tr tr certs 4s ’43
p Co 1 si A col tr 5s’49 M-S
i Cmid. i oi tr 5s 1951M-N
j Phil Elec gold trust
Trust
certify 4s
ctfs.
) P A E gen M 6 g '20. A-O
I
Gen M 4s g
salea on this day.
109
107
1014105
97
97
112V
Apr’07
1i95 4
1195 4
100V1J102
100 4 100 4
’07
101*4 Apr’07
102 V Jan '06
99 4
92 4
112V
1,99 4
107
94
i
100 4 Jan
98
10L
93
98
101v 102
904 100 4
May’07
92 4
914
2
99
H944 Sep ’06
109 V Atig’06
Weekly, Yearly
36
86
97
Year(1006)
Lowest
9
Jan 10
Jan 26
Jan
28VJan
7
Jan 7
Apr 10
Max 15
10 4 Marl 2
48
48 V Apr 1
32V Mar 14
61
Jan 2
47 4 Jan 24
14
Previous
Mange /or
Year
Highest
33 4 Jan 15
80
May 2 3
86
Mar 14
194 Feb 25
761
677
1920..AAO
Tj Kx-rigbta.
50
226
50
.50 9,122
100
00V United Gas Impt
Welabach Co
20
Ask
I Highest
J’ne
36 4 Deo 41
90
J’ne
80
Oct
87 J’ly 1114 Dec
Jan
22
Dec 82
48
Deo 62 4 Jan
18
Jan
13
Dec
103
117 4
112
104
106 4
1064
106
84
62V
Portland Ry 1st 5a R»30.
Roch RyA L con 5s ’54J-J
U Trao lud geu 6a’19.J-J
Un Rya Tr ctl* 4a’40JAJ
United Rya Invlatcolltr
af 6a 1926
M-N
92 V
U Trao Pit gen 5a ’07 J-J
Welabach a t 5a 1930.J-D
Wlks-B G A E con5a’5 5 J-J
84 4
63
Inactive Stocks
Ala Oons OoaiA lion.100
109 4
Atlanta A Charlotte.. 100
Atlan Coast Lino RR.100
Atian Coast L (Conn) 100
100
Canton Co
Cons Cot Duck Corp...50
111
1*0*84
95 4
69
1st pref
2d pref
G-B-S Brewing
984
106
118
......
Consol Gas
83 4
84
77
78
73
74
1*05*4
1134
102
105 4
97 4
98
99 4
*6*9*'
69 4
87
Fla...100
100
100
100
Bonds
Anacostia A Pot 5s...
!
Atl A Ch 1st 7. ..1907 J-J
Atlan C L RK4sl952M-S
Atl Coast L(Ct)ctfs 5s J-D
Ctfs of indebt 4s
J-J
6-20 yr 4s 1925
J-J
225
87
255
93
’*3*6**
20
25
95
98
73
44
78
5H
110
1104
94 V U6
107
105
85
83
85
83
BaltCPasslstSs’ll M-N 1004 1014
lo7 4 1 (18 4
Balt Fundg 5s.1916 M-N
1004 lol
Exchange 3 4s 1930 J-J
Balt A P 1st 6s m 1 ’ll A-O
io?** 10*9"
Balt 'Trac 1st 5s..’29 M-N
114
112
No Balt Div 5s 1942 J -D
Cent’l Ry cou5al932 M-N
Ext A Imp
Chas City Ry
U $7.60 paid, t $16
os.1932 M-S
1st 5s ’23 J-J
100
M-8
Ooi&Grnv Ist6a.l916 J-J
6a...1910 J-D
5a
1939 J-D
Ga A Alalst«on 6a ’46J -J
GaCar AN 1st Sag ’29 J-J
Georgia P 1st 6s...’22 J-J
GaSo A Fla 1st 6a 1945J-J
G-B-S Brew 3-4« 1951M-S
2d income 5a 1951 M-N
K noxv Trac 1st 5s ’2KA-0
LakeREl
50
Georgia Sou A
G A El 5s ’99
92
107
105 4
108 4
101
102
111
104
109
1064
10 J
116
107 4
Chari C A A ext 6s. ’09 J -J
2d 7a
1910 A-O
City A Sub 1st 5*..’22 J-D
City A Sub(Waa)lst6»’4S
Coal A I Ry 1st 5a’20F-A
101**4
100
Preterred
66 4
Chaa Ry
112
latgu5s’42M-S
108
104
108
72
South Bound 1st 5s..AO
U El LAP 1st 4 4a”29 M-N
Un Ry A El 1st 4s ’49 M-S
iDcorne 4s 1949
J-D
Funding os 1936...J-D
107
88
8 •» 4
52 V
82
Midland—
1911...M-S
WeeVaCAP lat6gTl
J-J
Weld 6a...1936 .J-J
paid. * $10 paid. { *35 paid, a Receipts.
22
106V
110
724
109
89
86 4
63
82 4
104
106
102
10.»
92
2a senes 6a
3d aeries 6s 1916..M-S
4th ser 3-4-58 1921. M-S
Wil A
634
106
108
108
FlaAWeat5s’34 A-O
J -J
109
i’05** 106**
Seaboard A L 4s 1950 A-O
Scab A Roan 5s 1926.J-J
Fund debt 2-8s 1991. J -J
Weat N C oon 6a 1914 J-J
107
118
*7*9 V 8*6 *‘
Noriolk St 1st 6s’44..J-J
North Cent 4 4s 1925 A-O
J-J
Series A 5s 1926
Series B 5s 1926
J-J
Pitt Un Trac 5s 1997.J-J
Poto Val 1st 5a 1941..J-J
5tli series 5a 1926.M-S
Va (State) 3a new ’82.
109
102
103
113
104 4
109 ‘4
107
104
108
NptNAO P 1st 6s’38 M-N
General 5s
194L M-S
Virginia
95
109
62*4
214
Memphis St lat 6s’45 J-.J
61 etst( Wash )lst5s’25F A
Mt Ver Cot Duck 1st 5a.
Sav
Atk
Bid
BALTIMORE
ASM
BALTIMORE
Prof
64
Jan
50V Sep
80V Jan 394 Nor
11
May 12 V Nov
Nov 14 Jan
6
31
Dec 48 Jan
144 Nov 28V Jan
Dec 118 Jan
100
65
May 86 J’no
11V Jan 14
8
Jan 25
Jan 25
36
16
Jan 8
Jan
78
Mar 14 103
Mar 14 784 Jan
67
Ojj Oct 3 it 10 Jan
2
4
Jan
1
Apr 6
oiv
J’ly 73liia Jan
Jan
7i)Uie
58 4 Mar 2 5
47
Apr a54 4 Mar
48*% Jan
40 4 May3 L
64 Dec 9*16 Get
9
Apr
7 4 Mar 14
{34 4 Jan
154 Mar27 {26 4 May 6 jel 9 4 Dec 88
Jan
664 May
46V Mar25 69 V Jan 7
47i6ie Jan
May24 46V Jan 14 43 V Apr 51
40
Jan
Jan 14 444 May
39 4 May24 47
65
Aug
63
Mar 14 60 V Jan 23 634 Dec 101
Feb
80 4 Mar] 4 964Jan 5 1(.3l4 May- 32
Mar
Dec
Feb 18 25
25
May24 30
87e Mar 21
4
May 1 s
19
May 21
6 V May 20
Bid
PHILADELPHIA
Ph A Read 2d 5s ’33. A-O
Con M 7s 1911
J-D
Con M 6s g 1911....J-D
Ex Imp M 4s g ’47. A-O
Terminal 5a g 1941.Q-F
P W A B col tr 4s *21 .J -J
J-D
Consol 6s r 1919... Var
Penn A Md Steel con 6s.
Pa A NY Can 6s ’39.A-O
Con 4s 1939
A-O
Penn Steel 1st 58 T7 M-N
1
j
Apr’oT
994 Nuv’06
H101V May’07
1150 4 Apr’06
86
pref tr
....100
Superior Oorp
100
Do
2d pief
40
684 Union Traoton
Bid
2003.M-N
Leh V Tran con 4s’35J-l)
New Con Gas 6s 1948 J-D
Newark Pass con 5s 1930
NY Ph A No 1st 4s ’39 J-J
Income 4s 1939...M-N
N oOhioTrae coii5s’19.J-J
914
103
latest bid and asked. \ Flat price.
Leuigh O A Nartr ctfa. 50
50 6,541
624 Lehigh Valley
100 1,606
•1
14 Marsden Co
50 3,963
597* 604 Pennsylvania HR
303
Pliiladelp’aCo (Pitlsb). 60
404 41
9,833
8
Philadelphia
Eleotnot.
25
74
7,436
224 22 4 Phlla Rapid Transit{.. 50
51
Reading
60 61,548]
60
22
Do
1st pref
50
*39 4 404
614
Annuity 6s
Gen cons 4s
"*‘v
Steel..6
Tonopah Mining of Nevl
Union Tr of I mi
loo
*
45
44
10
10
10
w
AmltyscouvSs 1911. J-D
Atl City 1st 5a g ’19.M-N
Balia Ter 1st 5a 1926. J-D
BergAEBrw 1st 6a’21 J-J
Betlile Steel 6s 1998.Q-F
Choc A Me 1st 5s 1949 J -J
Ch Ok AG gen 5s’19 J-J
Col St Ry Istcon 6s 1932
Con Trac of N J 1st oa.’33
E A A 1st, M 53 1920 M-N
Elec A Pco Tr atk tr otfa
Eq II Gas-L 1st g 5a 1928
H A B Top con 58 ”25 A-O
i Indianapolis Ry 48.1933
i Interstate 4s 1943 ..F-A
Lehigh Nav 4 4s ’14.Q-J
RRs 4s g
1914.Q-F
Gen M 4 4s g. 1924.Q-F
Leh V C 1st 6s g’33..J-J
Leh V ext 4s 1st 1948. J-D
2d 7s 1910
M-S
Consol 6s 1923
J-D
2 4
123
102
!
97
Ixnceet
100(
106V
4
loo?
60]
At Val E ext 7s 1910 A-0
Alt ALVElec 4 4S’33.F-A
88
1014 101V 101V May’O
Mange tor
Do
2d pref
100
United Ry A Electric..
Bonds
100
Indiana Union Tr_.._100
Insurance co of N A..10
Inter Sm Pow A Cliem.50
•
PHILADELPHIA
loo
Preferred
Ft Wayne AW V
Germantown Pass
Indianapolis St
68
90 4?
Ask
lii
Preferred
494
1
1
107 4 Nov’05
102
Mai’02
08 4 May’OO
4
103 V
]
102
102
102
J-J
Philadelphia
17
494 American Railways.... 60
•49
60] 6,023
874 374 Cambria Steel
881
»7* »«ie Electrio Oo of Amerloa 10
Gen Asphalt tr etfa
5
100 320
*4
384|
Do
etfa
697g SO3! 6
41
May’oT
4
•
M
9
90V
Bid
•irr *12”
•
57
87
9W16 10
10
4
•26
50
Telephone
*484
394
88
inactive {Mocks
Allegheny Val pref....61)
Cement
Amer Pipe Mfg
•1*14 *1*2*
*384
674
89 V
DEI.Pill A
American
•
48V 49«,f 481*ie
40
401je •30 V
486io 504
•39V 404
61V
PiilLA
42
8
7i3ie
84
91V
91
lhe
69V
42
42
8
23
01
•39 4
•89 4
•
4
19
104
84 81*16
82
81
58 7* 60 V
1
1
694 69 7*
414 414
7V
71*18
217e 224
604
1
60
42
•
494
»»•
8
82
77*
•
124
•114
•48V
9
•84
834
604
*90
«
••••••
87
97a
F-A
Week
Shares
1001
60)
Do
pref
81
914 Northern Central
Seaboard (new)
•80
•
80
80
88
83
91
85 4
06 4 100
99 4 100
100 4100
101 4 Sep ’06
1 102 V Jan ’05
1121V Mar’06
J-J
J-J
J-J
J-J
F-A
J -J
M-S
6
92
101
Get ’06
103 V
the
ELL L. A Pow.100
09
| 99
i
„
120
1179 V
A-O
A-O
J-J
A-O
J-J
F-A
J-D
Sales
(For Bonds and Inactive
Stocks see below)
Friday
Thursday
May 30
...
98 V
114
4
102 4 Aug’ot
97 4 Mav’07
100
Mar’oT
1004 Jan ’07
Stock Exchanges—Stock Record, Daily,
Of
.
|
Valley 1st 7s..1909
STOCKS
100 V
.
98
1179 4 May’07
98
Boston Bonds. " No price Friday;
ACTIVE
98
...
17V Aug’06
F-A
A-O
Baltimore
914
•49
A
4s
5s
High
101V Sep’05
M av ’04
118
26 4
1911 M-N
M-S
United Fruit conv geu 5s. 1911
89
90
M-N
U S Steel Oorp 10-60 yr 5s.1963
100
100
F-A
West End Street Ry 4s
1916 M-S
98
98
1914 M-N
Gold 44s.....
Gold iledenture 4s
1916 F-A
ill loo*’ i*o*d*
1917
Gold 4s
J-J
Western Teleph A Tel 6s. 1932
J-J
\V lsconsin Cent 1st gen 4sl949
s84 974
J-J
•
814
1929
1918
1 gr g 4s. 1947
Elec g 5s
U mon Pac K K
1st lien conv
Prices
Price*—Not Per Centum
1930
1st g 5s
Torrington 1st g
99
99
1924
1946
Line 1st g 6s
1922
Repub Valley 1st s i 6s... 1919
Rutland 1st con gen 4 4s. 1941
Rutland-Canadlan 1st 4s 194 9
Savannah Elec 1st cons 5s. 1952
Oreg Sh
Low
...»
92 "Mar’07
99
May’07
113 V Nov’OO
92
98
J- J
J-J
1945
9:)3,
98
Sale
J’ly
J’ly
1915
addition to the purchase prioe tor all
Philadelphia and Baltimore
Share
’05
90
90 4
92 4 Apr’07
904 8air
90
aoorued interest in
iNbiu—Buyer pays
101 !
Mar’07
1124 Jan ’03
104
Nov’OG
Mar-07
89
Apr
1912
1908
90
98 V
101
140
Br 1st 5s 1929
1st 7s...1912
New EngTeleph 6s
6s
5s
1916
New England cons g 5s...
Boston Term 1st 4s
1939
N YN H A H con deb 3 481056
Old Colony gold 4s
Oreg Ry A Nav con g 4s..
(1100 471004
90 4
1344 Not’06
1921
Regletered4s
4jI 83
100
Jan’07
98
Apr ’07
103 4 Apr’05
100
100
1933
Unstamped 1st 6a
GtNor C IS A <4 coll tr 4s 1921
M-S
MR
A-O
A-O
A-O
A-O
J-J
Hough A Ont 1st 6s. 1925
Mexican Central cons 4s.. 1911
1st cons mc3s
Jan 1989
Jan 1989
2d cons me 3s
.M ich Telep 1st 5s
1917
Minne Gen Elec con g 5s 1929
New Eng Cot Yarn os....1929
10641074
....
116
94
M-N
Mara
99
1915
1927
V 1st 6a.. 1933
A-O
J-D
1984
Assented income 5s
Kan C A M Ry A
Maine Cent oons
Cons 1st 4s
122
Apr’06
126
Feb ’05
97 4 Apr’07
a
Elk A Mo
86V 91V
101V 101 4 May’07
96
Feb’07
95
101
Ghic A W
4s
4s
Frernt
90 4
iioi^
964
I00780ct ’06
99 4 Mhv 07
122 4 Nov’OO
98
May’07
1024 Nov’06
114 4
115
94 4 Dec ’06
A-O
Mange
since
!
< 1 January 1
.Vo
Hi ah
Ask Low
Steel deben 6s
1910 J-J
Non-couvertdeben 6a... 1913 A-O
H83
^
jMSt
Illinol8
IU87S »2
1114 J’ly ’05
86
86
109
May’05
18=8 May’07
11004 May’07
98 4 Apr ’07
102 V J’ne’06
974 May’071
91
No Mien 1 si gn 5a. 193 i
Mioh gen 6a....1921
Ooncord A Mont oons 4s.. 1920
Conn A Pass R 1st g 4s. ..1949
Current River 1st 6s
1927
Det Or Rap A W 1st 4s... L946
Dommiou Coal 1st a t 5s..1940
Fltohburg 6s
1908
Chic
Mar’06
97
Mange or
Sale
Friday
May 31
la Falls A Sioux Cist 7s.. 1917
Kan C Clin A Spr 1st 6s... 1925
Kan C Ft S A Cull 1st 7a.. 1908
Kan C Ft Scott A M 6s
1928
Kan C M A B gen 4s
1934
j
Heek’s
Price
Bid
High
964 98 4
814 904
|U82
TSi
BOSTON STOCK EXCH’GE
wsbk Ending May 31
Low
High,
084
98
814
814
1J83 Mai *07
Low
104
97
1918
Non-exempt 6s
Mange
Since
January i
Sale
1st 3 4s. 1947
6s
1918
Boston Terminal
Bui A Mo Riv ex
1297
Record.
Boston Bond
1907.]
Juste 1
j
93
93
108 4 109
106
1054
116
113
92
6 *26 paid. e $80 paid.
[VOL.
THE CHRONICLE.
1298
Teletrr ifc Telephone
IjAmerTeleg A Cable 100
IjCentral A SoAmer. 100
Ooramer Un Tel (N Y).25
Emp A Bay State Tel 100
Volume of Business at Stock Excaanges
AT THE NEW YORK STOCK EXCHANGE
DAILY. WEEKLY AND YEARLY
TRAILS ACTIONS
Slocks
Week ending
Railroad Ac
Bonds
May 31
lyo?
Par value
Shares
State
Bonds
O S
Bonds
Franklin
100
11 Gold A Stock
lOli
Hudson RiverTeleph 100
1iN YA N J Teleph...100
IINorthwestern Teleg. 50
Pacific A Atlantic
Humrriay
Monday
216,939
,
1,026,341
687,165
654,512
Tuesday
Wednesday
$20,004,400
$693,800
1.388.500
86,375,350
1.581.500
59.044,500
1.4U3.000
48,293.700
HO LI DAY
$91,000
115,000
347,500
388,500
748,00U
106,500
21,000
$5,814,800 $1,048,500
$24,000
$3,000
632,471
Total
44,216,975
3,017,428 $257,934,925
Week
Sales at
Pew York Stock
Exchange
Stocks—No. shares
Par value
Bank shares, par..
1906
1907
1906
1907
106,445,153
128,399,933
2,028,139
$267,934,925 $104,609,859 $9,087,331,610 $11,443,890,000
$177,709
$7,409
$2,700
$275,000
3.017,428
BONDS
Government bonds
State bonds
BH. and mis. bonds
Total bonds....
$387,500
23,919,909
$789,500
1,048.600
6,814,890
$5,500
1,148,000
8,686,000
190,017,000
41,859,950
299,520,800
$6,837,300
$9,839,500
$214,324,400
$342,170,250
$24,000
TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES
DAILY
Week ending
May 31
1V01
Listed
shares
Saturday
Monday
Tuesday
Wednesday..
THinrHcifty
Friday
6,519
28,934
23,424
Unlisted
Bond
shares
sales
17,823
6,773
18,944
15,781
12,111
6,090
6,000
Bond
sales
Unlisted
shares
14,076
42,736
25,952
*23,509
$1,009
6,800
4,498
17,172
6,969
7,620
$29,100
59,100
43,200
69,000
HOLI DAY
....
Total
Listed
shares
16.S95
8,084
28,000
15,552
5,472
15,000
92,695
61,693
$47,809
121,825
40,822
$215,490
Outside Securities
A Weekly
Review of Outside Market will be found on a preceding page.
Street Hallways
Bid
Ask
BleeckSlA Fill F stk 100
25
30
1jl8tmorl4s 1950
| B’y A 7th Ave stk ..10o
1]2d mort 5s 1914 ...J-J
8G
200
101
91
220
104
list
196
309
115
193
186
list
Street Knilways
Pub Serv Corp N J (Con)
J C Hob A Patersonloo
48 g 1949
M-N
So J Gas £1 A Trac 100
Gu a 6s 1953
M-S
No Hud Co Ry 6s’14 J-J
6s 1928
J-J
Ext 6b 1924
M-N
Pat City con 6a ’31. J-D
2d 6s.\..1914 opt A-O
So Side El (Chic)
Set C
NKW YORK CITY
Con 6s 1943 See Stock
B’way Hurt IstSsgu 1924
flOent’l Crosst’n stk..100
IjlStM 6s 1922 ...M-N
Cen Pk N A E R stk.100
Chr’f’rA 10th St stk 100
olA 9th Ave 5s Set Stock
Dry 1) E B A 3—
iflst gold 6s 1932... J-D
IJScrip Os 1914
F-A
Eighth Avenue stk.. 10b
IliScrip Os 1914 F-A
Excli
102
250
108
180
160
Exch
106
95
300
98
340
68
42(1 A Gr St F’y stk.. 100
2d St M A StN AV..100
1st mort 6s 1910 .M-S § 102
G8
2d Income Gs 1915 J-J
Inter-Met—See Stock Ex cha’ge
Lex Av A Pav F 6s See St k Exc
84
Metropol Street Ry. 100
Ninth Avenue stock.100 150
185
Second Avenue stocklOO
lilstmorl 6s 1909 M-N 5100
F-A §107
150
ou Boulev 5s 1946..J-J §100
8o Fer 1st 6h 1919...A-O §190
Third Avenue See Stock Exch
Consol 6s 1948
SSixth Avenue stock 100
Tarry W P A M 5s 1928 § 95
Y kerast li K 5s 194GA-U } 98
28th A 29th Sts 1st 58 ’96 §100
HTwenty-Tli’il St stk 100 325
Union Ry 1st 5s 1942 F-A § LUO
Westcliest 1st 5s’43 J-J §100
103
78
list
List
90
§ 97
§106
§102
§100
§110
§100
98
68 4
Hat
list
39
79
80
30
75
See St
100
k
$101
112
1st Gs 1922.J-J §1U8
......
.....
list
Exc li list
160
170
h list
Butlalo Street Ry—
1st consol 5s1931..F-A §106
Deb Gs 1917
A.O §194
hicago City Ry
See C
st Ry..l00
Preferred
100
197
109
Colum Ry con 5s See Ph ila lisl
Crosst’wn 1st 5s’33. J-D §199
195
Grand Rapids Ry....100
G5
GO
Preferred
100
89
83
list
hicago
l^ako St (Cine) K1
see t'
JiLouisv St 5s 1930..J AJ §195*-.. 1U?
195
LynnA Bos 1st 5s’24.J-l> §103
UNew Or! Rvs A Let. 100
23*4 2 l
70 K
71*4
See Stk K X list!
VGen M g4Ls ’35
North Chic street
Inca go list !
Pub Serv Corp of N J190
85
95 j
Tr ctfs 2% to <5% perpet
Go
G 1
|
CoLi os g notes ’09 M-N § 94
91*4!
North Jersey St Ry 100
49
59
1st 4s 1948
M-N § 79
7 L
Cons Trac of N J... 100
72
73
1st 5s 1933
J-D §103
191
New’k Pas Ry 5s’30J-J §198
109
Rapid Tran St Ry..lU0
235
A-O §195
1
1934
19*4
X
§
102
list
75
8/V.
t
t
33
70
36
74
,
80
90
9734
Exch
*4
*8
Gs 1909 conv ’07...M-S 115
G
Buffalo City Gas stocklOO
Exch
1st 6s 1947
See Stock
Con Gas of N J 6s’36 J-J § 89
Consumers’ L H A Pow—
5s 1938
J-D §102
Elizabeth Gas Lt Co 100 275
Essex A Hudson Gas 100
118
130
7 V
FortWayue Gs 1925..J-J
55
Gas A El Bergen Co.. 100
11 Gr liap Gist os’16 F-A § 99
108
Hudson Co Gas
100
Indiana Nat A 111 Gas—
1st Gs 1908
M-N
50
5s 1952
list
92
list
185
25
loo
City Gas
100
1iLaclede Gas
100
1; Preferred
100
Latay’eGasl st Gs’24.M-N
12 L
45
58
100 v.
110
15
60
20
95
99
99
97
......
90
48 V
58
94
94
65
32
25
I.«<)sf«feWabV l8t0s’25.J-D
Madison Gas Gs 192G.A-0 §106 E 110
Newark Gas Gs 1944.Q-J §129
130
89
91
106*4 106*4
§102
IO A I ml ON at A Ili
100
1st Gs 192G
22
J-l)
Pat & Pas Gas A EleclOO
G5
2
100
1 Con g 6s 1949
M-S
St J oseph Gas 5s 1937.J -J § 78
30
r,(l
102
85
Electric Companies
Chicago Edison Co see C hicago list
1 Kings Co El LAP Co 100 110
120
Narragau (ITov) El Co 69 i 95
98
65
NYAQ El LAPowColOl
50
Preferred
10b
UnitedElectncof N .1 lou
4s 1949
J-l; i
70
40
69
100
95
78
70
70
125
70
170
153
list
185
102
81
118
193
100
I
1st preferred
100
2d preferred
loo
Am St Found Gs ’35 AAO §
20
5
93
American .surety
50 187 v. 195
American Thread pref..6 1
5
4*4
AmTobac (new) com loo 320
310
Am dypelo’rs com...109
41
37
Preferred
loo
99
95
90
Amer-Writing Paper.loo
50
Kansas
Newark Consol Gas.. 100
ICon g 5s 1948
J-D
No Hudson L II & Pow—
os 1938
A-O
Mining
Am MaltingGs 1914.J-D
Amer Press Assoc’n.lOO
Am Soda Foun com..lOU
80
100
100
accr’d int. f Price per sii. tsaie price.
3
3
100
67
10
95
Stk E
105
95
§ 98
A-O §
107*2 Jackson (fas 5s g ’37.A-O §
......
100
102
93
33
loo
60
Indianapolis Gas
hicago list
199 V 190 V
1,
1
90
GO
5
106
97
106
102
36
102
Binghamton Gas 5s 1938 § 95
Brooklyn Union Gas deb
isl g
76
70
§100
§ 95
§100
§ 97
40
75
32
89
§ 90 V 92
91*4
§ 90
§ 96 V 97 V
§ 97*4 97 s
§ 97V, 98*4
§ 97 V 99 s,
§ 97 V 98 *..
i
99 V 10b V
§ 93
99*2
99V
§ 98
Alliance Realty
115
Allis Chalmers Co 1st m
s f os ’36 opt ’16.. J - j }
68
American Book
lou
I61*
American Brass
loo
148
^American Can see Stoc k Ex
American Chicle C0..IOU
180
Preferred
loo
98
Am Grapliopho com..lou
41
Preferred
too
80
Amer Hardware
109
114
A Tract. 100
Bay State Gas
J05
.....
Preferred
100
1 st sf g os ’ 19 op ’99. J - J
11 Barney A Sm Car ...lou
lou
lipreferved
HBothl’m Steel Corp .100
loo
^Preferred
Bliss Company com
5u
Preferred
50
Bond A Mtg Guar
100
Borden’s CoiuIMilk.. 100
Preferred
loo
British (Jol Copper
5
Butte Coalition Min.. 15
Casein Cool Am com.. 100
Preferred
lor
Casualty Co of Amor, loo
Celluloid Co
100
Cent Fireworks com. loo
Preferred
...100
Central Foundry
100
Preferred
lou
Deb Gs 1919 op ’01M-N
1*4
20 v
81*-.
....
....
3*2
70
130
128
10
65
1*8
12
72
Col tr os Oct 1956..J-J
Consolid Car Heating 109
97
42
Cons Ry LtgA Re trig. 100
Consol Rubber Tire.. 100
Preferred
100
Debenture 4s 1961 AAO
3
5
ou
22
82 *2
65
138 V
n
10*4 12
50
30
115
135
134
139
370
350
165
1G9
110
107
8V
f
6>b
26
25
n
Century Realty
lou 185
Chesebrough Mfg Co 100 $00
City Investing Co.... Lou
95
IjClallin (11 B) com
100 100
1jlst preferred
100
90
93
1i2d prelerred
109
Col A Hock CoalA I pi 199
74
1st g 5s 1917
J-J § 82
uEx-righta. xEx-iUv. I New stock, li Sells
2
20
32
5
80
140
135
15
75
2*4
14
74
195
425
98
1**7
95
8
G9
128
129
5v
6
19 *4
40
45
Preferred
109
182
11 Preferred
100
1 t
Greene Cananea
.20
Greene Con Copper... 19
Greene Consol-Gold... 19
Greene Gold-Silver.... 10
GuggenheimExplo’n. 100
10
12
6
10
62
65
80
64
96
HFederal Sugar.com.. 100
U Preferred
100
IIG^neral Chemical ..100
110:1*4 Gold Hill Copper
Prior lien g 4 Vs’30M AS
Con mtg g 5s 1930.J AJ
Income os 1930
Ahmeek
100
$104
Undeposited stock
32V
Empire Steel
§103
...
Ft W A Deil Cy ).td.,100
Great Northen Ore
See
N Y N H A HartfordCon deb 3 *^8 195G. J A J
Nortli’11 Securities Stubs
Pitts Bess A L E
50
Preferred
50
HRailroad Securities Co.Ill.C. stk.tr. cfs.ser.A’62
SeaboardAir Line—
Coll5s ext 51 ay ’ll .M-S
Seaboard Co....See Balt
109
109
100
100
§
§101
30
§ 70
28
86
f 05
•••*•
7 L,
Vj
Copper(new)lo
5
Electric Boat
Preferred
Electric Vehicle
Preferred
Ask
11
list
6M
Douglas Copper
72
75
937h 94*4
9? *4 977b
95*4 96
95*8 95 V
96*4 97
5s g 1910...
§
94 v, 96
M-S
Lake Sh & M So 5s’10 F-A § 98
98-V
Lou A Nash g os ’10.M-S § 9834 9V»V
Mich Centos 1910
F-A § 97*e 98 V
Minn A St Lg 5s’ll.. F-A § 96 Hi
97*4
Mo Pac 5s Feb 10 ’08. F-A § 1*9*4
99V
Nat of Alex 5s’07.opt A-O § 997g 100 v
N Y Cent 5s 1910.... F-A § 98*4
98*2
Penn Co gu4 V8 1907 M-N § 99'8 100
Pa RR 5s Mar 15 ’10.M-S § 98*2
98 V
St L M So’east 4 Vs’U9 J -D §. 96*8 96*2
StL A S F g4 V’08... J-D § 96
96V
South’ll coil tr 08 ’09. A-O § 96
97v,
South Ry g 5a 1910.. F-A § 90
92
Tidewater con Co 6sl909 i 99
99V
U S Rubberg5s’08..M.S § 99
99 V
Wabash os, May 10 190;* § 96*2 97
Westingh El A M 58.1907 § 997e 100V
Wheei’g A L E 5s ’08-F-A § 96 *2 y7*4
Chic Subway
Dominion
Go
70
Industrial and Miscel
New Amsterdam Gas—
1st consol 6s 1948..J-J
N YA EltGas 1st 5s’44J-J
Consol 5s 1945
J-J
N Y A Richmond Gas. 100
Nor Un 1st os 1927.M-N
^'Standard Gas com ..100
11 Preferred
100
1st 6s 1930
M-N
Atner Light
Preferred
1
Short Term Notes
Am Cig sor A 4s ’ll.M-S
Sor B 4s Mch 15 ’12.M-S
Am Tel A Tel g 5s ’10 J-J
Atlan Coast L 6s ’ lO.M-s
ButtKoch A P g4 Vs’O'JF-A
Cent Cross’11 gu5s’09M-N
Chic A Altos 1912... J-J
Ch R I & Pac 4 Hj8’07.J- J
4 Vs 190 •>
A-O
Chic A \V Ind 5s’10FAA
Ciu Ham & I) 4*1*8’08.M-S
Erie Gs, Apr 8 1908
inter!) R Tg4s 1908 M-N
5s Mch 1910
M-S
Kan C So g 5s Apr’12 J-J
Bid
8
Exch
liCruoible Steel
loo
1[ Preferred
109
UDiamond Match Co. 100
100
Chic Peo A St L pref.100
Deposited stock
102
g’27.JAJ § 99
^Mutual Gas
55
114
115
80
101
V
M-N
IndiiNtrini and HiMcei
Cons Storage BatterylOo
Corn Prod Ref See Stock
Cramps' Sh A En Bldgl 00
55
Railroad
NEW YORK
Cent Un Gas os
Con Gas (N Y)
OTHER CITIES
/
116
OTHER CITIES
Stein way
71
113
Gan .Securities
175
L9<)
102
109
165
104
103
list
190
iOl
196
375
1UG
105
list
list
160
92
♦ Buyer pays
......
70
}
Trent P A H 6s 1943J-D §101
United Rys of StL—
Com vot tr ctls
100
68
1j Preferred
100
Gen 4s 1934....See Stk Exch
UnltRvsSanFran <S«eStk Exch
38
Wash Ry A El Co....100
Preferred
100 * 77
4s 1951
83
J-D
27
IjWeat Chicago St ....100
UCon g 6a 1936....M-N
BROOKLYN
1st 5s 1921
35
Ask
hicago list
Syracuse Rap Tr 5s 1946 §101 103
108
96
360
100
390
73
Atlan Ave 5s 1909..A-O § 99
Con 5s g 1931
A-O §1(»3
B B A W E 5s 1933..A-O
99
195
Brooklyn City stock.
Con 6s See Stock Exch list
Bkln Crosstu 5s 1908.J-J
99
t 99
Exch
Bklu yCo<k Sub
Bklyu Rap Tran See Stk Exch
100
88
1st cons g 4s 1948..J-J
Brk CAN 5s 1939.J-J
104
102
Gr*pt ALorimer St 1st 6s
Kings C.E1— 48 See Stock Excli
G5
5a 1944
A-O
194
4s
1st
1951
See St k Ext
N Wb’g A Flat 1st ex 4 Vs
99
Columbus (O)
Bid
80
120
95
§
B A NY 1st Gs 1911.J-J
N Y A E K Ferry Btk.100
1st 5s 1922
M-N
N Y A Hob con 5s’46.J-D
Hob Fy 1st 5s 1946 M-N
N Y A N J 2d 5s 1946. J-J
10th A 23d Sts Ferry 100
1st mort 5s 1919...J-D
11 Union Ferry stock .100
Ijlst 5s 1920
Ask
§
§
§
§
LackSteelg5s 1909 ..M-S §
Philadelphia
Boston
USouthern A Atlantic 25
*
January 1 to May 31
ending May 31
25
Ferry Companies
Brooklyn Ferry stocklOO
....
Friday
Bid
'15
110
113
75
45
110
45
110
105
72
95
LXXXIV.
t
t
t
t
Hackensack Water Co —
Ref g 4s 52 op 12...J-J
§
Hall Signal Co
100
Havana Tobacco Co..100
Preferred
Luo
1st g 5s June 1 ’22.J-D
Hecker-Jones-Jew’l Mill
1st Gs 1922
M-S
65
90
70
99
IV
14*4
1*8
1434
20
23
IV
1 *4
1*4
14
200
225
90
92
60
10 V
16
55
12
20
G5
07*3
104
40
200
Her’g-Hall-Mar.new.lOO
implOO
Hoboken Land A
1,5s 1910
107
45
M-N §100
Houston Oil
100
5
Preferred
100
37
Hudson Realty
100 120
llngersoll-liana com. loo
64
.-.10o
llPreferred
90
Internat’lBankiugColOO 135
Ulnt’n’l Mer Mar See Stk Exch
lnternat’1 Nickel ....loo 110
Preferred
iOu
83
International Salt....lOo
16
1st g 5s, 1951
A-O
65
International Silver. IOu
6
Preferred
100
63
1st 68 1948
J-D 105
Lackawanna Steel...loo
62
Lauston Monotype
20 t 12
Lawyers Mort Co
LOO 197
l|Leh A Wilkesb Coal.5b
62
Lord A Taylor
100 125
Preferred
100
98
DLoriilard (P)pret ...100 125
Mack
Companies See Stk E
Madison Sq Garden..100
15
2d Gs 1919
M-N
75
HMandate Beach Co. 100
3
Manhattan Transit....20 t
6 *8
Mex Nat Construe.pf 100
13
Mitchell Mining
10 t
3*4
Monongohela R Coal..50 t
Preferred
50 t
Mortgage Bond Co... 100
lbs"
8
43
135
145
List
115
87
18
60
8
70
108
55
13
200
70
30
102
135
t list
22 *3
80
G
e;*8
17
3
V
74
24V
90
95
Nat Bank of Cuba....lOo
98
103
National Surety
100 155
170
Nevada Cons’d Copper.5 t 13V,
1334
Nev-Utah Miu A sm.li r
4v
4*4
IjNew Central Coal
29
30
40
N J Ter Dock A Imp. 106
N Y Biscuit Gs 1911.M-S 102 V
N Y Mtge A Security. 100 186
IjNew York Dock ....100
85
llPreferred
loo
68
72
N Y Transportation...20 t
3
4
Niles-Bem-Pond com. 100 100
.10
Nipissing Mines
5 t 1234 13
IjUutario Silver
100
Otis Elevator com....IOu
Preferred
Phoenix Securities
Pittsburg Brewing....50
Preferred
39
90
t*27"
28
48
49
1st
2
59
11
50 f
Pittsburg Coal See Stock
Pope Manufacturing.IOU
1st
i ^
lou
45
98
1st
5s Jiuy 1936 opt
Realty Assoc (Bklyn)luu
Royal Bak Powil pref.100
Safety Car Heat A LtlOo
Seneca Mining
26
Singer Mlg Co
109
Standard Cordage.... 100
1st M.g.5s.’3i red.. A.O
AdJ list. M .5 s. Apr 1,1931
Standard Coupler coinlOo
in
*’8
Excli
2d preferred
loo
Pratt A Whitn preL.lOU
Public Serv Corp of Va—
preferred
4*3
36
85
loo
g
160
100
05
190
80
>00
2 V
6
38
43
6
8
50
55
115
L25
6
8
29
32
75
.78
515
k Exc
Preferred
109
Standard Milling Co.IOu
Preferred
loo
1st 5s 1939
M-N
Standard Oil of N J ..loo
Swift A Co See Boston St
1st os 1910-1914...J-J §100
IjTexas A Pacilic Coal lOo
79'
1st Gs 1908
A-O §194
Title Ins Co of N Y..109
150
Tonapah Min (Nevada). 1 f
!
265
70
485
15*4
.
85
15*4
Trenton Potteries com 100
14
17
Preferred new
100
92
100
Trow Directory
35
100
45
Union Copper
10 f
^
Union Typewr com..100
80
84
1st preferred
lou 114
2d preferred
114
loo
United Bk Note Corp..50 t 57
GO
Preferred
!. 50
;>() V
51*3
li U nited JigarMfg. ,pf. loO
85
91
United Copper
58
100
68 *t
Preferred
loo
85
99
U. S. Casualty
IOu 225
U S Envelope com... 100
30
49
07 u
U S Steel CorporationCol trsf 5s ’51 opt ’ll
§110
Col tr s f os ’51 not opt.. §110
U S Tit GuA Indem.100
IjUtali Copper Co. see S tk Ex
39
Waterbary Co, com..109
Preierred
100
Westchester
Bronx
A
Title A Mort Guar. 100
167V
175
Western Ice
100
32 V
8 3
Westingh Air Brake..50 140
91 V, IJWcBt El A Mfg—5s See
Stk E
1 i5
White Knob Min
10
3s
4
I’ referred
10
2 V
6
Worthing Pump pref.100 113
25
36
St’fc Exoh., but not * very active ••curity-
..
list
40
34
V
2*3
June 1
Juuestmjewt and Railroad
following table shows the gross
earnings of every STEAM
Intelligence.
EARNINGS.
GROSS
RAILROAD
The
J299
THE CHRONICLE.
1907.J
railroad from which regular weekly or monthly returns
for the latest week or month, and the last two
latest week or month. We add a supplementary
does not begin with July, but covers some other
be obtained.
The first two columns of figures give the gross earnings
columns the earnings for the period from July 1 to and including such
atatement to show the fiscal year totals of those roads whose fiscal year
can
The returns of the street railways are
period.
Latest Gross
Week or
Month.
ROADS.
brought together separately on a subsequent page.
July
Earnings.
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
Week or
Month.
ROADS.
I to Latst Date.
July
Latest Gross Earnings.
1 to Latest Date
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
J>
$
Sout hern Rail way.
Ala Great Southern —See
Ala N O & Tex Pac.
N O & N East... April
Ala & Vicksburg. April
Vicksburg Sh & P April
Ala Tenn & North.. March
k Atch Top & S Fe. April
March
Atlanta & Chari
Atlan Blrm & Atl’c. Match
April
April
Atlantic Coast Line
Baltimore & Ohio..
Bangor & Aroostook
Bellefonte Central..
Bridgeton & Saco R
Buff Roch & Pitts..
Buffalo & Susq
Canadian Northern
Canadian Pacific
Central of Georgia..
Central of N Jersey.
Chattan Southern..
_.
.
..
..
March
April
March
3d wk May
April
3d wk May
3d wk May
3d wk May
April
3d wk May
Chesapeake & Ohio. April
Chesterfield & Lane March
Chicago & Alton Ry April
Chic Great Western 3d wk May
Chic Ind & Loulsv. 3d wk May
Chlc Ind & Southern —See New
&K E...
Fonda Johnst&Glov February
Northern Central.
.
282,113
33,848
69,114
20,354
41,684
404,400
25,692
84,827
68,021
4,560,961
Island S
1,648
47,939
224,480
_
2d wk
2d wk
2d wk
Gr Trunk West..
Det Gr H & Milw
Canada Atlantic.
Great Northern
Montana Central.
Total system
April
April
April
3d wk
Gulf & Ship Island
March
Hocking Valley
April
Illinois Central...
Inter & Great North!3d wk
alnteroceanlc (Mex) 3d wk
3d wk
Iowa Central..
Kanawha & Mich.. April
Kansas City South. April
.
_
Lake Erie & West'n —See New
Lake Shore & M Sou —See New
Lehigh Valley
Lexington & East..
Long Island
Louisiana & Arkan.
Louisville & Nashv.
Macon &. Blrmlng..
Manistee
No East
Manistlque
Maryland & Penn..
April
March
March
,664,472
,923,739
,281.093
,204,832
,893,853
.054,320
.077,045
,064,198
,619,141
,634,659
,783,237
.325,257
1
707,503!
343,017
6,781,045
6,008,174
AGGREGATES OF GROSS
Cur'nt Year Prev’s Year.
Monthly Summaries.
week
week
week
week
week
week
week
week
week
week
o
Mch
Mch
Mch
(43 roads)
(44 roads)....
(41 roads)....
April (42 roads)
April (44 roads)....
April (43 roads)....
April (47 roads)
May (43 roads)
May (41 roads)
May (41 roads)
Mexican currency,
10,161,319
10,149,406
14,765,658
9,726,621
10,329,969
10,414,829
15,171,383
10,161,954
10,262,925
10,326,105
Inc. or Dec.
+
9,292.598
8,978,802
13,485,514
Inc.477, 200
2,116,386
115616582; 107304982
Inc. 5,40! 6,200
I
York Cen tral.
1,362,707 1,264,507 12.281.201 11,233,001
543,723 5,923,797 5,807,016
395,663
2.747,674 2,267,892 25,655,321 23,510,733
....
_
York Cen tral.
—See New
March
April
April
April
Rutland.
St Jos & Grand Isl.
St Louis 8c San Fran
St Louis Southwest.
Seaboard Air Line.
Sierra Railway
Southern Indiana..
cSouthem Pacific Co
Southern Railway..
Mobile & Ohio..:
Qn N O & Tex P.
Ala Great South.
Ga South & Fla__
Texas Central
Texas & Pacific
Tidewater & West.
Toledo & Ohio Cent
Toledo Peo & West.
Toledo St L & West
.
....
Tomhlgbee Valley..
York Cen tral
—See New
March
146,326
....
.
1,306,794
110,864
—See Rock Island Sy stem.
169.580
202,682
3d wk May
March
1,615.557 1.452,601
30.748
34,347
April
1,159,960
9,404,611 7,995,188
12,206,059 11,323,134
,195,250
,760,903
,867,556
,102,088
7 .420,552
3,629 579) 3 ,338,540
1 ,888 604, 1 .613,810
863.681
1.118 -130
14,932, 861! 11 .706,558
66 144
64,368
3,996 832' 3 ,494,073
1,127 44 2 j 1 ,157,509
3,668 099, 3 .710,447
36.637
48 420!
018,390
707, 184)
62,518 034,56 ,107,330
825,458
867, 061!
24,200 45121 ,990,856
567i
4
.181 .721
4,904
4,009 970, 3 ,713.470
5,373 034! 4 ,751,059
00,586 1,354 456
125,092
10090 533 8.974.747 92,414 516
April
March
3d wk
2d wk
3d wk
3d wk
May 1,060,539
189.479
May
177,414
May
75,873
May
182,176
22,331
May
286,530
May
8,513
408,169
24,981
May
75,175
May
6,502
80,578
April
3d wk
3d wk
March
April
3d wk
3d wk
March
1,016,914 50,294 687
181,189 9,219 379
170,937 7,565 348'
67,849
157,786
14,259'
211.185
6,154*
205,041
23.394
70,578
4,596
61,146
April
6,287,988 5,339.805
April
89,726
96,947
Virginia & So West. April
438,678
497,065
3d
wk
May
Wabash
103,130
121,973
Western Maryland. 3d wk May
340,310
398,810
West Jersey & Sea. March
88,661
131,431
Wheel & Lake Erie. 3d wk May
13,789
12,962
W’msport & N Br.. December
Tor Ham & Buffalo
Union Pacific Syst.
654,071
17,039
733,775
Wlsconsin Central.. March
Wrlghtsv & Tennlllc April
Yazoo A Miss Valley April
612,512
14,862
751,654
87
94,300
1 72!
5,522, 580' 5 ,319,001
196 122
179,197
8,029, 22S. 7 ,220.124
+
8,688,049
9,045,571
9,069,733
12,437,852
+
+
+
+
+
8,790 083
8,858.051
8,911,372
b Includes earnings
Current
Atlanta & Charlotte
+
1,170,604
1,280,144
1,038 572
1.284.398
1,345.096
2,733,531
1,371.871
+ 1 ,404,874
+ 1.414,733
Fe Prescott
—
South
Chicago Indiana & Southern.
Mlchigan Central
Cleve Cln Chic & St Louis
Peoria & Eastern
Cincinnati Northern
Pittsburgh & Lake Erie
Rutland
N Y Chic & St
Northern Central
—
Louis...
Penn—East of Pitts & Erie
d West of Pittsburgh & Erie..
Phlla Baltimore & Washington.
Philadelphia & E^rte
Pitts Cln Chicago & St Louis—
Rio Grande Junction
Texas & Pacific
West Jersey & Seashore
d
Mch
Jan
Jan
Jan
Jan
Jan
1
1
1
1
1
1
Jan
1
1
Jan
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
Dec 1
Jan 1
Jan 1
379 ,921
378,279
18 ,173
19,402
133 ,406
136,482
22
,976
18,423
2,820,400 2,418 ,900
45° ,936
472,634
29,828,030 27,979 ,338
14,027,773 13,397 ,688
1,594,193 1,722 ,473
808 ,305
999,843
9,086,395 8,346 ,013
7,823,456 7,333 ,064
960 ,375
922,210
293 ,200
310,987
4,355,347 4,372 ,848
782 ,947
845,028
3,508,452 3,250 ,133
2,907,625 2,751 ,025
37,203,541 35,357 ,841
Inc A ,33 4.700
3,775,463 3.549 ,063
1,225.459 1,175 ,358
10,317,296 9,301 .521
196 ,825
255,260
6,621,741 5,222 ,151
870 ,164
31
951,164
to
to
Mch
31
April
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Mch
30
31
30
7
7
30
30
30
30
30
30
30
30
30
30
30
31
31
31
31
28
30
31
31
to
to
to
to
to
to
to
to
to
to
April
May
May
April
April
April
April
April
April
April
April
April
April
April
Mch
Mch
Mch
Mch
E"eb
April
Mch
May
Mch
EARNINGS—Weekly and Monthly.
Cur’nt Year Prev’s Year.
Monthly Summaries.
%
9.35
13.15
9.49
11.95
14.19
14.82
21.98
15.61
15.74
15.88
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
July 1906 (117
Aug 1906 (118
Sept 1906 (122
Oct 1906 (119
Nov 1906 (123
Dec 1906 (127
Jan
1907 (123
Feb 1907 (122
Mch 1907 (118
April 1907 ( 65
S
roads). 168,336,461 148,01)^,565
roads). 179,191,945 159,835,022
171 .553,520
roads). 184,551,471
roads). 198,733,229 179.405,267
roads). 186 696,274 175,727,985
roads)
.
184,235.595 170.746,769
roads) 173.212,305 162.623,883
roads). 162,283,992 152,555,191
roads). 180,539,532 164,645,009
roads). 79.566,158 68,521,631
.
Inc. or Dec.
%
S
+ 20,322,896 13.7*
+ 19.356,923 12.11
7.58
+ 12,997,951
+ 19,327.962 10.77
6.24
+ 10,971,289
7.90
+ 13.488 826
6.51
+ 10,588.422
6.05
+ 9.728,801
9.65
+ 15,894,523
10.12
+ 11,044,527
Includes the Houston & Texas Central and Its subsidiary lines in both
years, f Includes Evansville & Indiana RR. h Includes
A Brazos Valley RR. fc Includes In both years earnings
Trinity
A Phoenix Ry.
of Gulf & Chicago Division,
RR., Pecos System and Santa
Air Line—
Bellefonte Central
Manistee & Northeastern
Manistlque
Mexican Railway
Mexican Southern
New York Central
Lake Shore & Michigan
Lake Erie & Western
Year.
Period.
Various Fiscal Years.
i
868,721
d Covers lines
of Denver Enid A Gulf
2,202,744
8,015,952
21,044,071
8,400,779
56,226,320! 51,354,532
5,388 8871 4.882,554
13166969 12531269
....
4,470.395
1,886,476
20,903,323
19,619,801
2,620,194
762,782
11,157.292
4,281,624
2,186,310
22.742,839
21,055,850
2,519,933
862,953
11,789,685
2,376,367
8,524,661
2,276,392
22,861,172
9,178,379
_
c
directly operated, c Includes the Chicago & Eastern Illinois In both
earnings of Col. A South., Ft. YVorth A Denver City and all affiliated lines, excepting
years,
35,965,055! 33,831,555
46,227
72 ,004
6,648
10,624
3,998,069 2,461,844 35,541 .645 33,670,065
4,121,379 1,074,565 32,010 ,458 27.995,671
8,119,448 3,536,409 67,552 ,103 61,665,582
Total both cos
145,996 1,366 ,223 1,211,191
March
171,085
Rich Fred & Pot..
505,170
618 ,796
48,300
57,198
Rio Grande June
March
540 .279
501,832
12,558
11,819
Rio Grande South.. 3d wk May
5,030.048 3,800,204 49,759 ,439 43.135.736
Rook Island System April
4,340,007 3,147,838 41,503 .098 35.444.736
e St L & San Fran April
159.705 1,909 ,635 1,816,461
190,512
I Evansv & Ter H April
9,560,568 7.107.747 93,172 .174 80,396 934
Total of all llnes. April
$
i
S
2d
3d
4th
1st
2d
3d
4th
1st
2d
3d
& I^ake Erie
Raleigh & Southport
Reading Railway..
Coal & Iron Co._
Pitts
3,069,581 1,817,144 29,500,445 27.198.658
386.784
416,586
46,463
55,480
.
April
....
79,038,572 74,885,374
York Cen tral.
York Cen tral.
Inc.713, 763
Inc.61, 868
851,156
983,910
96,416
12Q.264
April
853,475 12,825,992 38,091 ,150
3d wk May!
883,860
139,254
141,535
12,193
10,847
j
April
44,060
March
44,654
74.057
63,728
5 132
7,875
April
!
301 ,773
297,627
31,765
34,217
April
!
April
I 2,920,991 2,500,372 25,496.125 23,315,445
a Mexican Central..
169,114; 182,738 7,345,817 6,426,251
a Mexican
Internal 3d wk May
156,200;
136,200 6,410,700 5,580,900
a Mexican Railway.; 1st wk May
26,878!
23,272 1,082,985 1,032,264
a Mexican SouthernTst wk May
Michigan Central
! — Sec New York Cen tral.
659.992
693,213
16,411!
13,628
Mineral Range
3d wk May;
67,564!
64,230 3,398,415 3 294,754
MInneap A St Louis 3d wk Ma
11
10,232,321
.122,567
243,919
204,810
Minn St P & S S M. 3d wk May!
507,184!
350,010 23.182,172 18,868,011
Mo Kama; & Texas 3d wk May
41
869,000
781,000 1 ,594.307 37,768,297
Mo Pac <5r Iron Mt.. 3d wk May!
462,322 1,682.313
30.000;
29,000
3d wk Mavj
Central Branch.
899,000! 810,000 45.056,629 39,450,610
3d wk May|
Total
466,475
743,921
139,700)
92,98-.
i
b Mobile .lack & Iv C December
—See Sout! hern Rail;way.
Mobile & Ohio
1 1,139,9181
981,985 8,871,885 8,032,643
Nash Chatt & St L_ March
277,794 13,840,292 12,215,836
353,592
a Nat RR of Mex..'3d wk May
882,647
19,692
19,727'
Hidalgo <3e N E._|3d wk Mayj
177,794
3,933
203,644
3,702
Nev-Cal-Oregon
2d wk Apr
36 918
56,672
5,692
6,540,
Nevada Central
March
I
N Y Chic & St Louis —See New , York Cen tral.
N Y Ont & Western
March
March
March
—Sec New
March
Philadelphia & Erie February
Pitts Cln Chlc& St L Apfll
,9-14,246
,698,463
,383,029
772,201 38,556 11
78,706 5,236 843
99,904
May
23,349 1,568 933
24,439
May
38,143 1,687 038
29,087
May
4,688,548 3.945,887 42,851 866
235,050! 227,070 2,290j 532
4,923,598 4,172,957 45,142 398
,
45,647!
45,389 2,216 598
May
425,455
561,237 4,950 227
|
4,674,892 4,233,912 40,799 240
958
May! 130,000! 118,000 7,786 492
147,904 6,365
143,992
May
49,903 2,822! 737
60,813
May,
1,931 752
153.001
1 219,139
678,737 7,547, 987
862,635
....
April
_
,622,616
161.561 1,873 007
,410,442
253,664 11.891 441
244 537
224,362
28,594
505,373
595 678
56,651
163
936
155,141
18,977
36?
061
346,051
41.512
601
17
,285,599
18,678
376,900
23,279 1,154 044' 1 ,014,380
78,240 3,709 637! 3 ,603,284
62,875 2,888, 0921 2 ,690,563
4,184,061 39,462 809 37 ,880,904
ystem.
17,950
13,731
1,456
484,496
520,119
46,324
237,046 2,573,716 2,420,212
way.
_
Northern Pacific....
Pacific Coast Co
d Penn—East P & E
d West of P & E_
Peoria & Eastern.
Phlla Balt & Wash.
Rn II way
hern
York Cen tral.
York Cen tral.
April
Georgia RR
Georgia South & Fla —See Sout hern Rail
3d wk May
858,059
Grand Trunk Syst
-
i
N
Norfolk & Western. March
March
York Cen tral.
187.776
...
....
_
—See Squt
—See New
—See New
March
3d wk May
March
March
March
March
3d wk May
3d wk May
2d wk May
3d wk May
March
—See RockMarch..
Cornwall
Cornwall & Lebanon
Denver & Rio Gr
Detroit & Mackinac
Det Tol & I rout Sys
Dul So Shore & Atl.
Erie
Evansville & Ter H
Fairchild
277,816 2,705 ,385 2,474 ,708
271,719
124,058 1,321 ,873 1,149 .907
139,480
121,387 1.377 ,887 1.067 ,683
143.367
24 ,440
35 ,770
3,830
3,877
8,429,356 6,746,870 77,432 .002 67,031 ,712
379.921
3,217 ,0251 3,111 ,390
378,279
813 ,074
104,140 1,158 .742
142,066
2,444,409 2,159,462 22,401 ,746 20,464 ,632
7,107,670 6,304,733 67,676 ,987 64,002 ,210
251.032 2.378 ,012! 1,824 .764
325,122
49 ,326
48 ,4861
3,132
4,679
35 725
35 ,514!
3,411
3,733
87.512 7,515 ,694! 7,213 .342
209,746
1,306 ,233
97,008 1,514 ,391
168,127
133,600 6,210 ,800| 4.759 ,300
201,100
,404
54.366
63,119
.677
1,547,000 1,213,000
183,800 10,978 ,763 10,244 ,774
215,800
2,335,005 1,306,867 21,784 ,664 20,033 ,507
121 ,637
147 ,413
3,135
3,829
2,209,621 2,005,871 20,975 ,238 20,210 ,089
29 ,376
40
.128
4,582
7,498
771,398 10,773 ,188 9,852 ,416
996,979
165 758
160,132 8,373 .267 7,828 .493
115,679 5,302 ,601 5,248 ,761
115,931
4,331,720 4,045,356 4Q.711.382 87,427,598
123,691 52,585,872
5,410,595 5,148,018
April
956,842 11,831,653 10,904,888
1,133,144
April
31,616 1,486,278 1,501,265
33,191
2d wk May
February
Chic Milw & St Paul
Chic & North West.
Chic St Paul M & O.
Chlc Term Tran RR
C|n NO & Texas Pac
Clnclnnat’ Northern
Ctev Cln Chic & St L
Colorado Midland..
h Col & South Sys__
Col Newb & Laur__
Copper Range
8,039,260 6,687,084
3,598,636 3.374,435
399,423
402,123
187,206
265,887
2,367,877 2,042,469
2,158,884 1,816,526
226.401
223,232
81,352
88,327
1,163,836 1,123,120
207,696
251,189
803,955
925,154
237,969
274,933
2,777,454 2,548,010
967,710
1,011,910
6,160,258 5,001,557
453.580
637,856
April
April
April
April
April
April
April
April
April
Rutland
April
N Y Chic & St L. April
Y Susq & West ..'March
Hud River
Lake Shore & M S
Lake Erie & West
Chic Ind & South
Michigan Central.
Cleve C C & St L_
Peoria & Eastern
Cincinnati North.
Pitts & Lake Erie
N Y C &
[Vol. LXXXIV.
THE CHRONICLE.
1300
for the third
and shows 15.88%
Third week, of
1906.
1907.
May.
Southern
Chicago Great Western
Chicago Indlanap & Louisville.
Chattanooga
Cine New Orl
& Texas Pacific.
_
Colorado & Southern
Denver & Rio Grande
Detroit & Mackinac
Duluth South Shore & Atlantic_
Grand Trunk of Canada
1
Grand Trunk Western
1
Det Grand Haven & MIlw._|
Canada Atlantic
J
Gulf & Ship Island
Intemat’l & Great Northern
Interoceanlc of Mexico
334,000
87,512
252
6,477
28,449
27,500;
2,413
5,146
772,201
-
45,647
130,000
143,992
60,813
883,860
169,114
16,411
67,564
International
Minneapolis & St Louis
Missouri Kansas & Texas
Missouri Pacllie & Iron Mtn
Central Branch
National RR of Mexico
Hidalgo & Northeastern
Rio Grande Southern.]
St. Louis Southwestern
Southern Railway
2581
12,000!
13,628
64,239
204,810
350,010
781 ,000
29,000
277,794
19,692
12,558
169,580
243,919
507,184
Minneapolis St Paul dsSS M
45.389
869,000
30,000
353,592
19,727
11,819
202,682
1,060,539
1,016,914
14,259
22,351
Texas Central
Texas & Pacific
Wabash
286,530
211 .185
24,981
75,175
497,065
23,394
70,578
438,678
103,130
88,661
121,973
131,431
Maryland
Erie
10,820
130,385
2,783
3,325
39,109
157,174
88,000
35
739
33,102
43,625
8,092
75,345
1,587
4,597
58,387
18,843
Previous
Current
Year.
S
Year.
Year.
$
Iloads.
$
.Apr 8.429,356
168,127
July 1 to Apr 30..
Canadian Paciiic.a
July 1 to Apr 30..
Catsklll Mt Ry.b—
Jan 1 to Mch 31
18,275
revious
Year.
$
and for
$10,570,564
Interest
addition
also
97,908
1 ,360.233
def4,819
def4,417
924,299
861,120
9,671,774
110,820
182,060
2,751 .080
996,979
10,773,188
9,852,416
69,114
595,678
56,651
505.373
486,149
444.194
.Mch
Copper'Range, n
July 1 to Yleh 31..
.Apr
Cum Tel & Tel Co b
1,926,700
30
D L*& W (Leased lines 11!i N Y State) b—
3.032.ini
1 to Mch 31..
Jan
9,595,331
July 1 to Mch 31..
Jan 1 t<> Apr
Syr Bing & New York _b—
1 to Mch 31..
322,666
1,093,266
July 1 to Mch 31..
.Apr
120,789
Detroit & Maclnac.a
1,077,567
July 1 t > Apr 30...
.Apr
276,577
2,684,165
—
Georgia RR.a
July 1 to Apr 30
..Apr
..Apr
Iowa
224,480
2,573,716
.Apr
231,510
2,068,369
_.
771 ,398
247,300
2,641,599
.Apr
219,139
1,931,752
1.746,028
2,355,158
743,825
7,391,874
351 ,88 l
3,704,981
17,865
207,500
190,086
748,461
July 1 to Mch 31
1 to Mch 31.
July 1 to Mch 31
VV BIi ig & New Yo
Jan 1 to Mch 31
J uly 1 to Mch 31
Jan
201
373
167,980
678,318
120,264
July 1 to Apr 30...
983,910
Manistee A Northe’n.b .Mch
Jan 1 to Mch 31
136,482
44,654
1
Apr 30
to
1,608,134
5,205,118
1,380.322
4,321,459
314,317
142,336
1,040,287
412,081
146,590
424,150
103,869
20,727
11)0.697
def 17 .397
944,790
_.
Kanawha & Michlgau
July 1 to Apr 30.
237,551
2,511,791
73,297
800,188
65,227
822,695
237,046'
1.396
51,953
2,420,212
472,492
71 1.828
186,567
1.752,542
75,946
514,207
53,619
563.279
229,786
2.487,060
153,001
1,783,237
£68,705
£819,431
50.375
425,103
.Apr
.Apr
Apr 30
,vnnit & NoHl
1 to
(152,476
£649,613
22,943
457,557
July
96,416
851,156
47.046
294,434
25,914
309,009
44,060
15,228
59,621
21,398
133,406^
1
1
to
to
..
July 1 to Mch 31
.
282,640
748,761
6,008,174
2,147,995
1,595,051
266,793
92.408
173,444
67,562
152,503
765,922
Reading Railway Co—
615,231
1,833,539
993,367
3,356,807
765,091
2,487.920
46,285
142,550
113,061
307,236
100,305
281,600
rn
932,693 lEdef 19,839rdcf 102,823
15,775
65,847
23,866
57,280
3:4,341
3-264,523
14,632
45,578
3:16,665
3:12,340
def. 98,809
889,156
Charges here Include road rental
After allowing for other income
386,377
X860.270
3:511,829
13,048
39,068
,593
26,598
10,670
23,004
•
i 1
(paid by lessee) and other
received.
STREET RAILWAYS AND
51,787
86,656
68.542
1 16.164
1,022,406 def.516,535
867,881
7,079,121
7,114,584
8,678,815
3:76
17,733 xdef.5,744
x34,563
3-24,720
179,347
29,402
44,271
2,584
304,974
358,210
25,831
r95,757 rdef.67,863
38.276
._
x
3:209,657
—
890,500
.Apr
8,905,000
July 1 to Apr 30
17,533
Rio Grande Southern.. .Apr
177,310
July 1 to Apr 30..
2,584
.Apr
Texas Central.
25,831
July 1 to Apr 30._
36,855
Toledo & Ohio Central. Apr
369,260
July 1 to Apr 30..
Mch
13,758
U S Telephone Co..;
41,186
Jan 1 to Mch 31
a
3:1,181
050,787 .Edef.46.378
0517,147 iEdef.36.589
r30,466
19,420
7-215,662
199,219
8,362
6,766
39,024
20,298
7 def. 21
33,292
3-28,897
126,812
123,568
69,099
1,401,240
705,895
deductions
TRACTION COMPANIES.
65,876
893,239
1,016,435
2.500,372
.Apr 2,920,991
Central
7,123,433
7,679.511
25,496.125 23,315,445
July 1 to Apr 30..
16,480
11,728
56,217
.Apr
65,719
Mineral Range.b.
137,180
619,458
134,835
644,906
July 1 to Apr 30.
£58,165
£57,169
281,447
317,538
Minueap & St Louls.a .Apr
3,095,331 £1,075,191 £1,196,442
3,195,439
July 1 to Apr 30.
200,922 def.29,710
343,017
.Apr
707,503
No C.b—
151,773
591,164
def.
95,942' xdef 12,221 .Edef.29,784
86,641
858,416
a51.226
0516,221
20,504
214,756
6,866
20,597
11,821
106,741
77,354
746,755
Mch 31.
Mch 31
Latest Gross Earnings.
Mexican
6,781.045
Apr
_
Manistee & Northeast.. Mch
Jan 1 to Mch 31.
Jan
30,112
126,742
9,791
125,436
137,865
551.576
29,275
104,845
—
.Apr
Georgia RR
July 1 to Apr 30._
154,899
7p ,937
8,438
75,937
38,313
>.Apr
157,297
n N Y State)—
614,767
1,848,221
_
2,683.864
8,595,342
def .6,403
9,427
131.563
8,438
.Apr
Jan
6,860
1,991
Mch
Range
per
—Bal. ot NetE’ngs.evious
Current
Year.
Year.
$
$
,
2,041
Mch 31.
Jan 1 to
0314,844
1,817,144 ol ,222,449
.Apr 3,069,581
29,500,445 27.198,658o 11,286,351010,167 048
.Apr
$
7,983,818
18,229
Year.
$
Year
Roads.
741 ,211
185,834
2,970,806
(fee., with the surplus above
report charges for interest,
deficit below t hose charges:
469,654
1,903
.Apr
Charges and Surplus.—The following roads, in
their gross and net earnings given in the foregoing,
—Int.. Rentals, &c.—
Current
Previous
20.715
8
2,005,871
.Apr 2,209,621
20,975,238 20,210,089
Jan
40.227
.Apr 6.391,561
58,462,677 50,613,404 20,368.844
10,341 .113
to
6.746,879 d3.024.475 d2,460,805
2,342,559
18,847,600
.Apr
amounted to $237,126, against $195,903 in 1906
$2,967,349 against $2,264,902
1907
and rentals were $2,116,199,
last year
1907 additional income was $3,017, against $7,316 in 1906,
1 to Apr. 30 was $48,577 In 1907, against $49,808 In 1906
k For Apr. 1907 additional income was $17,644, against $17,486 In 1906,
and from July 1 to Apr. 30 was $194,018 in 1907, against $155,349 in 1906.
o Including other Income, total Income (exclusive of results of coal com¬
panies) for April is $1,274,762 in 1907, against $337,274 In 1906,
period from July 1 to Apr. 30 is $12,088,435 In 1907, against
In 1906.
Deductions from total Income for additions and improvements
were $167,205 In April 1907, against $65,726 In 1906, and from July 1 to
Apr. 30 were $1,666,931 In 1907, against $1,099,674 last year.
p For Apr. 1907 additional income was $1,221, against $518: and from
July 1 to Apr. 30 was $26,861 in 1907, against $17,826 last year.
or
473.512
2,366,926
..
given are after deducting- taxes,
here given are before deducting taxes.
Net earnings here
h For Apr.
and from July
5.491,000
1,514,391
J
.Apr
against $1,996,982
77,432 902 67,031,712fi'28,968,049(1 25.495.111
580,342
589,725
2,159,462
.Apr 2,444,409
6,622,098
5,661,594
-...22,401 ,746 20,464,632
def6,874
321 ,448
296,486
i. Apr
742,476
3,029,404
2,670,291
6,950,706
6,920,260
Apr
1,300,574
the Denver Enid & Gulf RR.,
& Phoenix Ry. In both years.
1,414,733
Earn’gs-
143,133
1,271.387
351,346
129,375
...
d The company now includes earnings of
Pecos Valley system and Santa Fe Prescott
For April taxes and rentals
after deducting which, net for Apr. 1907 was
last year.
taxes
From July 1 to Mch 31
Earnings Monthly to Latest
-Gross
a
b Net earnings
42,770
Current
Apr
..
1,000
75,798
Dates.—The table fol¬
lowing 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
The
this kind will be found in the issue of |May 25 10Q7.
next will appear in the issue of June 22.
Net Earnings
Net
Year.
$
$
r
..
8,911,372 1,433,008
10,326,105
|
$
$
1,689,993
2,551,369
7,107,747
9,560,568
93,172,174 80,396,934 30,025,507 25,027,549
131,590
210,292
715,693
837,991
St Louis Southwestern. b. Apr
1,899,944
2,797,983
7,495,746
8,813,469
July 1 to Apr 30.
3,559
5,368
11 ,854
9,326
Tacomo Gas Lt Co
40,674
63,856
105,795
136,312
June 1 to Apr 30..
31.986
46,855
75,437
116,668
.Apr
Texas Central.a
330,805
384,041
S19,794
1,052,956
132,488 def.29,627
205,041
408,169
a. Apr
893,578
1,222,458
3,494,073
3,996,832
July
p96.687
335,773
pi 31,890
335,390
.a Apr
p8 54 ,<305
•0976,165
3,435,730 3,502,324
2,141,882
2,261,323
5,339,805
Apr 6,287,988
C.2,518,034 56,107,330 28,004,663 25,737.786
July 1 to May 31.
23.718
25,351
34,830
Mch
37,003
U S
62.072
67,784
118.513
127,188
Jan 1 to Mch 31
85,858
118,000
147,904
49,993
853,475
182,738
Previous
Year
Year.
(Concluded) —
.
,
...
Total (41 roads)
Ret Increase (15.88%)
694
62,875
Current
Year.
1.912,906
Apr
16,019,584 15,757,936
July 1 to Apr 30
49,453
48,099
145,996
Rlchmorid Freds & Pot.Mch
171,085
411,951
395,739
July 1 to Mch 31
1.366.223 1,211,191
17,051
10,723
42,585
45,790
Rio Grande Southern.b.Apr
205,512
192,551
470,730
July 1 to Apr 30
508,542
1 ,115,193
782,236
3,800,204
Rock Island System.a-Apr 5,030,048
.49,759,439 43,135,736 15,133,842 12,520,390
July 1 to Apr 301 ,352,840
843,442
3,147,838
a Apr 4,340,007
41.503,098 35,444.736 14,019,549 11,692.477
64,314
83.335
159,705
190,512
“a Apr
814,681
872,115
1,816.461
1,909,635
5,626;
23.279
Prevlous
Total all cos.
32,000,
183,800
3.135
160,132
115,679
170,937
253,664
376,900
858,059
Mineral Range..
Wheeling & Lake
1,213,000
404,400
25.692
68,021
Louisville & Nashville
Western
1,547,000
282.1 13
Iowa Central
Mexican
133,600
122,234
67,500,
215,800
3,829
165,758
115,931
177,414
Reading Railway Co.
Reading Company
July 1 to Apr 30
$
8,024;
67,849
75,873
209,746
201,100
Current
Roads.
Increase.
$
$
Alabama Great Southern
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia
-Net Earnings
-Gross-Earn'gs-
which
Latest Gross Earnings by Weeks.—In the table
follows we sum up separately the earnings
week of May.
The table covers 41 roads
increase in the aggregate over the same week last year.
495,506
1,563,304
2,461,844
.Apr 3,998,069
35,541,645 33,670,065 13,028,431 12,933,972
220,227 df,287,293
1,074,565
.Apr 4,121,379
1,552,577
1,690,579
32,010.458 27,995,517
208,213
1,783,531
3,536.409
.Apr 8,119,448
67,552,103 61,665,582 14.719,010 14,486,549
iV (l flit
fJJ
Week or
Month.
Road.
,
'
Rys Co
cAur Elgin & Chic Ry
Binghamton Ry
BIrm Ry Lt & Power
Brockton & Ply St Ry
Burlington (Vt) Trac
Cape Breton Elec Co.
Central Penn Trac
Chari Con Ry Gas & El
Chicago & Mllw Elec.
dChlcago & Oak Park
a American
Cu rrent
Year.
Previous
Year’.
$
s
223,124
April
April
April
April
101,198
March
January
._
March
April
April
April
April
Cleve Palnesville & E April
Cleve Southw & Col.. April
Tanuary
Dallas ElecCorp’n
—
.
20,240
184,636
6,829
6,217
14,831
56,282
55,324
68,711
72,721
19,470
58,089
87.324
203,882
899,981
22,011
155.947
5,825
6,200
17,222
51,501
50,155
57,014
Jan.
1
Current
Year.
$
853,828
378,384
85,886
721,765
18,509
47,394
6,217
50,492
217,254
219,271
248,233
285,790
71,543
203,728
78,327
87.324
71,022
18,202
date.
to latest
Previous
Year.
$
778,414
327,939
83,413
592,111
16,962
6,200
54,744
197,391
206,302
177,503
282,831
63,440
176,000
78.327
1301
THE CHRONICLE
1907.]
June 1
Net Earnings
Gross Eam’gs
Name
of
Current
Week or
M onth.
Road.
Year.
Previous
Year.
f
Detroit United Ry.
6,873
116,920
15,879
161,203:
40,538
2d wk May
2d wk May
3d wk May
Duluth Street Ry
East St Louis & Sub. April
March
El Paso Electric
Ft Wayne & Wabash
Valley Traction — March
Galveston Electric Co March
Georgia Ry & Electric April
Hartf & Spring St Ry February
Electric Ry.
Honolulu Rapid Tr &
Havana
_
Wlc May 26
April
Land Co
Houghton Co St Ry _. March
March
Houston Electric Co.
Illinois Traction Co__ April
Jackson Consol Trac. March
Jacksonville Elec Co.
Kan City Ry & Light
Lex & Inter Rys Co._
Madison & Int Trac..
Manila EleeR&L Corp
Met West Side Elev. .
Mllw Elec Ry & Lt Co
Mllw Lt Ht 8c Trac Co
Montreal Street Ry..
Nashville Ry & Light
March
April
March
April
April
April
_
Wk May 25
April
NJ & HR Ry&Fy Co March
N O Ry & Light Co.. April
Nor Ohio Trac & Lt. _ April
Norf & Portsm Tr Co March
Nor Texas Trac Co__ January
Northwestern Elev..
Oklahoma City Ry._
Peekskill Light <Sc RR
Portland Rys Co....
Puget Sound Elec Ry
Rio de Janeiro Tram
Light & Power
Interurb
Joseph (Mo) Ry Lt
Rockford &
St
Heat & Power
Sao Paulo Tr Lt
March
April
_.
.
Whatcom
1,657,619
116,719
45,676
229,000
923,312
1,188,369
208,423
220,880
811 ,241
_
.
Co Ry & Lt March
’
508,727
447,204
74,953
534,872
47,924
20,415
51,564
15,251
43,759
7,100
9,369
3,500
55,226
150,597
44,327
126,673
19,625
50,723
13,824
38,222
107,884
461.465
96,698
420,934
4,282
149,258
23,245
183,244
117,624
475,304
382,396
127,584
32,685
76,814
60,197
164,754
47,300
143.631
85,874
35,872
261 ,287
3.370.085
20,425
1 to Apr 30.
International Ry Co (Buffalo)b—
Jan
1 to Mch 31
996,998
3,407,918
July 1 to Mch 31
Crosstown St Ry (Buffalo)b—
Jan
1 to Mch 31
158,054
July
1 to Mch 31
494,782
11,115
Jackson Consol Tr Co....Mch
136,681
May 1 to Mch 31 ..
34,206
Jacksonville Elec Co.a.. Mch
95,939
Jan
1 to Mch 31..
472,666
Kansas City Ry & Lt.b .Apr
5,226,282
June 1 to Apr 30. _
-
Hudson.b—
Jau
1 to
Auburn
Jan
Mch 31.
31
& Syracuse.b
to Mch
July 1
Mch 31
July 1 to Mch 31
Aurora Elgin & Chicago. Apr
July 1 to Apr 30
Binghamton Ry'.
Apr
1 to Apr 30
Jan
July 1 to Apr 30 _.
Brockton & Plymouth. .Mch
J an
1 to Mch 31
.
Bklyn Queens Go & Sub.b—
Jan 1 to Mch 31
1 to
Mch 31
Cape Breton Elec Co
1
July 1 to
-
64,801
1
Mch
to
r
Chic & Milw Elec
Jan
1 to Apr
Apr
30
.079,632
960,133
489.578
430,514
20,240
85,886
6,829
18,509
5.825
16.062
6,863
31,927
1 11 ,739
1.002
1,377
9.550
248,988
22,011
S3.113
236,949
356,402
334.130
Apr
East St Louis & Sub
1 to Apr 30.
Jan
Apr
....
Elmira Water Lt & RR Co
Jan 1 to <Mch 31
July 1
to Mch
El Paso Electric Co
Jan
1 to Mch
31
68.71 1
31
Ft Wayne & Wabash Val
Jan 1 to Mch 31
Mch
38,232
34,845
112.637
299
477
142.886
Rochester
537,520
4.738
Syracuse
Jan
July
18,202
63,440
30,054
8,121
Tampa
32,884
87,411
6,084
23,737
18,055
Troy & New
Jan
2,163
36,122
def5,086
4.609
def2,433
15,959
466,730
1,701 894
Cl 85.274
C6 81.45 9
186,576
661,656
30,339
96,165
70,711
277,109
325,354
4,920
17,133
33,768
112,667
161,203
635,762
148.230
573.955
67,402
282,099
62,180
•
30,381
85.524
79,992
232,088
1 to
64,820
60,626
307,029
9,329
43,111
8,569
23,502
33,656
101.109
11,968
36,318
10.205
27,059
28,519
88,356
def.2.705
12,265
Co.a.Mch
30
37,365
76.814
1
c
22,223
26,859
119,80!)
•24.8 28
192.1 87
47,562
237,428
51,262
249.324
98,054
387,691
85 ,874
33 8,005
43.050
170,434
17,844
102,734
15,390
def .883
31.320
35,872
73.711
54,902
14,733
1 56,396
610,543
69,081
-Feb
1
145,552
164,473
660,890
3.910
25,173
2,432
23,971
465,221
1,821,102
415,413
1,621 ,913
Mch 31
31
Lt.-Mchi
31...
231,206
769.447
26.556
81,326
1
36,580
144,415
1.398
—
8,511
21 .466
38,69 2
82.686
16,550
33.980
9,317
22,158
23,706
49,853
18,706
39,387
65,442
276,136
72,773
289,904
802
581
3,081
247,132
908,776
7,647
30,280
322,391
329,746
1,092,501
218,256
832,338
70,921
286,834
320,287
852,593
301,884
3,138,883
1,073,450
1,130,839
411,910
1,305,966
164,023
563,428
161,693
458,211
198,727
659,617
82,625
302,387
280,96 6
20,425
64,801
10,424
33,545
5,501
17,718
-
given are after deducting
taxes,
before deducting taxes.
earnlugs of Detroit Monroe & Toledo Ry.
earnings here given are
Includes
10,854
29,362
639,899
Mohawk Valley.b—
Net earnings here
b Net
14,843
230.056.
768,192
United Traction (Albany)-b—
456,644
1 to Mch 31
Jan
1,456,780
July 1 to Mch 31
a
197,708
651,36 4
16,460
50,789
Mch 31
July 1 to Mch
203,272
632,277
16,069
46,622
England_b—
Whatcom Co Ry &
Jan
1 to Mch
487,281
1,524,116
32,685
67,981
47,300
142,739
Light.a.-Apr
1 to
502,165
47.167
136,556
Union Railway, b—
336.883
Jan
1 to Mch 31
1.163,330
July 1 to Mch 31
884,923
United Rys of St Louis_a.Apr
3,379.085
Jau
1 to Apr 30...
Jan
178,199
19.801
107.661
332,440
July 1 to Mch 31
Utica &
-
125,134
358,134
Feb
Twin City Rap Tr Co.b-Apr
Jan 1 to Apr 30
1 1,280
29,553
183.713
529,147
261 ,287
April 30
to
190,332
5,515
451,973
60,197
252 ,395
164,754
502,798
63,057
b—
Feb 28
Toledo Pys &
77.631
20,952
def.15,555
13,672
149,978
1 to
21,1 1 1
289.366
48.333
Lake Sh & Nor.b—
to
39,167
49,955
117,366
31 ,205
Rap Trans.'..Apr
1
42,138
129,561
46,236
1 to Mch 31...
Jan
322,460
.201 .301
163,898
Jan
def5,769
65.763
101.449
561,758
Terre Haute Trac Co.a.
Jan 1 to Feb 28
defl 0,962
6,392
72,405
118,905
57,106
123.173
153,234
366,966
2,148.085
5,135,386
1,787.651
Electric Co.a
1,562,313
5,762.078
1,199,995
5.629,033
2,154,899
5,332,609
31
Mch 31
1 to Mch 31
Syracuse & Suburban,
Jan 1 to Mch 31
238,235
963,808
1,057.281
4,788,123
5,102,1 13
14,053,413 12,926,600
Interurban. Feb
Jan 1 to Apr
228,862
258,002
4,502
17,040
Apr
Mch 31
Schenectady Ry.b—
1 to Mch 31
Jau
July
1,024,703
1,856
1 to
Jan
159,867
831,154
4,333
18,724
to
Savannah Elcetrlc
576,643
1,294
Feb 28
...
St Jos Ry Lt lit & PowCo Aprr
Jan 1 to April 30
Sao Paulo Tram Lt & P.Mch
Jan 1 to Mch 31
1
98,952
108,213
633,604
9,905
39,734
July 1 to Mch 31
Jan
27,406
100,534
9,638
8,944
11,400
46,887
Railway.b —
Rock*ford &
6,773
25,057
15,523
Mch
31
40,565
149,402
4,323
10,008
Co.b —
1 to Mch
10,008
18,637
38 ,645
36,882
709,582
2,390,111
490,578
1.981,909
129,614
Elec Co
Mch
Richmond Lt & RR.b—
56,180
Jau 1 to Mch 31
213,258
July 1 to Mch 31
487,965
Riode Jan Tram Lt & P.Apr
1,883,902
Jan 1 to Apr 30
30,225
120.965
235,615
1,641,937
Puget Sound
197,591
50,155
101 ,996
47,394
176,000
1
July
,075,038
46,614
177,051
7,146
135,753
163,135
447,204
132,844
508.727
19,012
47,924
31
1 to Mch
Syracuse
57,014
177,503
1
3,800,559 3,960,771
12,975,092 12,924,256
31
Philadelphia Company.h—
Jan
1 to Men 31
3,299
20,233
39,239
Co.b—
Peeksklll Ry & Light Co.
Jan 1 to Apr 30
18,064
31,967
92,145
67,291
243,988
40.538
114,140
92.500
267,018
95,642
32.792
248,233
136,044
534.655
1,188.369
32,143
208.423
Mch 31
1 to
Jail
1 1 .54 1
i
•109,4 41
148,182
566,553
27,992
105,817
270,479
300,688
Apr
Trac&Lt. Apr
Oswego Traction
51 ,501
56,282
217,254
55,324
11 1 ,459
355.362
826,890
Apr 30.
Oklahoma City Ry Co..
Jan 1 to Mch 31
54.744
50,492
318,742
804,554
Mch 31
Co.Mch
to
Northern Ohio
Jan
1 to
,25«)
10,695
17,222
(RR Dept only) b—
43,809
47.718
152,723
Mch
118,186
470.097
.084,566
14,831
1,458,399
3,087,393
1 to Mch
1
8,809
23
Norfolk & Ports Tr
Jan 1 to Mch 31
17.925
89.8)81
1
Jan
J uly
226,946
2,594,614
3,241,142
Cos.b—
1,526
to
Jan
101.198
19,470
& East-_. Apr
71,543
Apr 30
58,089
Cleveland Southw & Col.Apr
203,728
...
Jan 1 to Apr 30
Coney Island & Brooklyn.b—
308,487
Jan 1 to Mch 31.___1,207,993
July 1 to Mch 31
Coney Island & Gravesend.b—
2,178
Jan 1 to Mch 31
43,350
July 1 to Mch 31
Detroit United Ry
Apr C507.266
Cl .944,994
Jan 1 to Apr 30
Duluth Street Ry.b
Jan 1 to Apr 30.
24,189
1
9,549
27,572
21 5,319
2,3 57,917
33,852
106,541
Mch 31
Niagara Gorge, b—
40,592
113,356
42,605
4,701,659
46,437
40,250
115,250
July 1 to
3,182
59.698
225.838
Cleve Palnesv
Jan
1 to
Detroit Jackson & Chic..Apr
Feb 1 to Apr 30
44.545
13,273
33,375
3,593
53,659
72.500
220,880
New York City Ry
Jan
1 to Mch
show
69,965
262,669
1.168,055
Mch 31
Central Penna Tr Co .. .Apr
Jan 1 to Apr 30
Charleston Consol Ry.-.Apr
Mch 1 to Apr 30
Chattanooga Rys Co—
Jan 1 to Mch 31
Jau
5,950
36.924
178,814
40,359
180,371
25,439
72,723
435,908
274,635
Apr
1.873,683
Apr 30
Nassau Electric Co.b—
670,157
Jan 1 to Mch 31
2.344.997
July 1 to Mch 31
482.128
New Orleans Ry & Lt.b-Apr
2,077,841
Jan 1 to Apr 30
$
S
56,667
197.572
3,195
78,000
229,000
_
1 to
Oct
and the net earnings to latest dates of all
STREET railways from which we have been able to procure
monthly returns. As in the case of the steam roads, the
returns of the different roads are published by us each week
as.soon as received, and once a month we bring together all
the roads reporting as is done to-day.
Brides the companies
furnishinq monthly returns, we hare added this time the roads
which make quarterly return*.
AJet Earnings
Gross Earn'ds
Current
Previous
Current
Previous§
Year.
Year.
Albany &
60,664
223,316
Montreal Street Ry
both the gross
Year.
5
144,398
442,709
10,191
122,258
Co.. Mch
31.
Mllw Lt Heat & Trac.b.Apr
Jan 1 to Apr 30
1,914,257
1,164,116
3,138,883
Earnings.—In the following we
308,420
1,306,371
31.542
97,559
252.395
502,798
142.739
330,485
1,451,221
41,738
116,719
Mch 31
Milw Flee Ry & Lt.b
Jan 1 to Apr 30
567,943
338,005
73,711
114,733
616.545
906,645
3,083,412
Mch
Mch 31
Jan 1 to
82,801
8,508
47,355
16,262
38,717
Lexington & Inter
Manila El Ry & Lt
Jan 1 to Mch
5,980
23,970
95,398
__
Mch 31
Rys.
July 1 to
122 12
26,411
106,998
Mch 31
1 to
Jan
Sept- 5 1906.
Roads.
Consolidated. b—
Kingston
225,083
893,385
,105,323
1
14,441
129,047
28,057
277,724
Illinois
Jan
Massachusetts Electric
1 to Mch .31
Jau
81.326
Year.
5
31..
67.981
-
2.152.195
Co.b
Mch 31..
Traction Co.a.. .Apr
Include operations of the Scranton
from Fen. 1. c These figures are
for main line, f Now in¬
cludes Rapid Ry. Syst.. Sandwich Windsor & Amherstburg Ry. and Detroit
Monroe & Toledo Short Line Ry.
h These are early preliminary returns;
decrease due to earthquake, lire and strike among employees, Aug. 26 to
Railway Net
1 to Mch 31..
July 1 to
a Figures for the mouth In both years
Ry., acquired Jan. 1 1906.
ft Figures are
for consolidated company,
d These are results
Street
Electric Co.a.. Mch
Oct
529,147
136,556
587,846
387,691
82,686
145,552
660.890
76,050
30
Hudson Valley Ry
Jan
1 to Mch
30.734
125,617
16,887
852,593
Mch
177,051
1,132.842
423,504
70,471
1 ,981,909
451,973
366,966
53,535
501 .222
29,553
563,906!ftl ,047,498
884,923
26,556
...
11,653
45,275
1,075,038
2,077,841
54,902
.
April
484,144
81 ,860
156,396
62,817
99,065
12,947
52,101
35,552
1.883,902
47,167
154,728
98,054
38,692
69,081
164,473
111,245
97,559
,298,939
117,366
123,173
53,535
29,662
118,654
Houston
Jan
1,853,660
1
Apr
.i.
51,564
4,464
263,862
56,958
150,597
1 ,105,323
30,542
95,939
*
10,157
27,199
Electric. .Apr
Rapid Transit &
232,088
111,245
43,759
126,673
893,385
28,991
72,723
$
19,308
56.958
235,372
Houghton Co St Ry.a—
Jan 1 to Mch 31..
118,654
Year.
$
$
27.065
Honolulu
Land Co.b
Jan 1 to Apr.
28,057
66.169
Wk May 25
112,272
3d wk May
ft509,504
Februarv
Railway
Twin City Rapid Tran
United HR of S F
United Rys of St L__
_____
Year.
Year.
Galveston Electric Co —.Mch
1 to Mch 30..
Jan
267,311
573,955
85,524
31,116
183,713
Light. April
Toronto
267,018
76,050
Previous
Year.
Previous
Georgia Ry &
18,434
611,6S4
63,057
Co.. April
& P. March
*
1,907,781
Current
Current
Roads.
19,737
694.099
487.965
37,365
April
Syracuse Rap Tr Ry. April
Tampa Electric Co.. February
Terre Haute T & L Co February
2,176,187
290,416
635,762
’114,140
135,201 126.366
11,280
19,012
9,905
11 ,40!)
127,5841 125,617
129,614 101,449
April
February
Year.
151251
163,135
74,953
January
March
Year.
44.327
225,083
10,191
25,439
435,908
31 ,542
8,865
72,500
206,215
270,479
46,614
61,621
109,572
24,497
490,578
132,844
Savannah Electric Co March
South Side Elevated. April
Toledo Rys &
30.381
29,662
20,415
55,226
472,666
41,738
11,500
78,000
234,412
300,688
52,143
67,976
124,857
30,598
482,128
April
103,197
14,434
148,230
79,992
19,308
235,372
9,140
34,206
March.
Previous
i
.6105.338
92,500
27,065
263,862
9,166
33,662
277,724
11.115
Current
i
S
& Chic
Detroit Jack’n
latest date.
Jan. 1 to
Latest Gross Earnings.
lu 1907.
74,826
[VOL.
THE CHRONICLE
1302
Charges and Surplus.—The following STREET
railways, in addition to their gross and net, earnings given
in the foregoing, also report charges for interest, etc., with
the surplus or deficit above or below these charges:
Current
Year.
S
Roads.
Albany
Jan 1 to Mch 31..
July
Auburn
1 to Mch 31
& Syracuse—
1 to Mch 31.
Jan
1 to Mch 31.
Aurora Elgin & Chicago .Apr
July 1 to Apr 30
July
Jan
to Mch 31
1
.
July 1 to Mch 31
Cape Breton Electric Co.Mch
Jan
to Mch 31
1
Charleston Consol Ry
Mch 1 to Apr 30.
Cleve Painesv & East
1 to Apr 30
Jan
Apr
_
Coney Island & Brooklyn—
Jan 1 to Mch 31
July 1 to Mch 31
.
.
..
.
£def.4,76fi
£15,747
19,556
55,273
15,897
48,108
£4,849
£59,503
£2,439
£48,366
27,588
264,897
24,939
244,140
15,017
224,681'
13,29 3
186,374
def. 1,264
def.382
33.144
2,188
5,299
39,702
1 ,819
5,346
7,362
29,544
72,935
1 ,863
5,472
def.817
def. 1,564
def.3,969
def.4,995
1 1 1 ,821
105,520
337,193
335,162
£11,865
£158,163
£41,013
£209,721
4,250
12,750
4,376
13,148
def.2,995
def.2,055
4,916
13,517
27,034
12,967
6,716
12,205
5,670
12,711
908
def.705
1,203
def.3,251
25,934
6,789
26,988
7,213
28,851
Apr
Previous
Year.
$
22,414
66,286
Brooklyn Queens Co & Sub—
Coney Island & Gravesend—
to Mch 31
185
9,172
158
759
£def4,549
July 1 to Mch 31
£def2,543
£15,920
Cl 15,460
105,654
C£7 3,993
C448.138
393,968
C.r251,123
£84,626
£282,677
Jan
1
Detroit United Ry
Jan 1 to Apr 30
Apr
Detroit Jackson & Chic. .Apr
Jan 1 to Apr 30..
15,012
45,037
Duluth Street Ry
Jan 1 to Apr
17,645
70,366
Apr
30
17.524
7,0006
Elmira Water Lt & RR Co (RR Dept only)
12,103
Jan
1 to Mch 31
38,172
July 1 to Mch 31
Mch
El Paso Electric Co
Jan 1 to Mch 31
..
..
12,501
6,393
25,575
Honolulu RapTrA LCo.Apr
Jan 1 to Apr 30
Mch
Houghton Co St Ry
to Mch 31
1
4,167
Mch
Galveston Electric Co
Jan 1 to Mch 31
Jan
4,665
13,697
Mch
Houston Electric Co
Jan
1 to Mch 31
3,971
11.806
10,798
26,614
Hudson Valley Ry Co—
Jan
1 to Mch 31
50,029
151,849
July 1 to Mch 31
International Ry Co (Buffalo) —
_
Jan
1 to Mch 31
1 to Mch 31
Crosstown St Ry (Buffalo)
July
_
Jan 1 to Mch 31..
July 1 to Mch 31.
Jackson Consol Tr Co
Mch
May 1 to Mch 31
Jacksonville Electric Co. Mch
Jan 1 to Mch 31
..
Kan City Ry & Lt Co.
June 1 to Apr 30
_
.Apr
.
£8,180
£161
£155
3,772
11,279
4,167
12,501
5,258
21,030
3,937
11,659
10,065
25,967
3,904
9,805
6,443
15,780
5,990
14,698
£7,485
£28,886
1,940
£6,795
£26,300
3,129
def.2,437
def.5.673
8,827
24,109
12,255
64,178
196,160
£df43.949
£7,495
£df38,269
£df2,749
238,454
£96,797
£874,657
£81,844
£692,426
£15.906
£84,456
£11,110
£59,532
141,411
46.833
2,879
30,621
3,325
9,975
1 to Mch 31
July
1 to Mch 31
297
def.437
3,759
626
316
21,551
15,816
9,798
22,950
6,224
17,597
76,874
854,410
3,475
10,425
149,826
1,613,890
1,503,507
77,120
980,724
10,025
38,000
9.929
£def. 1,375
£def 970
37,646
£9,797
£3,369
138,445
Kingston Consolidated—
Jan
26,159
£def 871
46,074
142,778
Massachusetts Electric Cos—
1 to Mch 31
Jan
Oct
1 to Mch 31
436,152
846,443
407,398 def 117,410
defl 1,889
792,628
def52.036
34,262
Mllw Elec Ry & Lt Co
Jan 1 to Apr 30.
Apr
95,474
375,741
88,364
347,690
£57,763
£210,775
£50 ,73 5
£198,293
Mllw Lt Ht A TracCo
Jan l to Apr 30
Apr
30,423
120,570
24.306
£ilcf .2,363
£3,168
£8,306
Montreal Street Ry
Oct
1 to Apr 30
Apr
Nassau Electric Co—
Jan 1 to Mch 31
45,317
284,195
July 1 to Mch 31
New Orleans Ry & I.,t
Jan l to Apr 30
167,261
666,703
Apr
New York City Railway
Jan
1 to Mch 31
2,863,010
8,600,449
Niagara Gorge—
1 to Mch 31
13,299
216,048 £dcf34,065
£201,321
721,143
61,601
152.297
608,296
390,578
39,940
42.402
166,431
39,947
159,788
3,441
3,297
Apr
1 to Mch 31
Philadelphia Company—
1,072,574
3,241,782
29,637
Puget Sound Electric Co. Mch
Richmond Light A RR—
1 to Mch 31
July
1 to Mch 31
_
to Mch 31
27,000
July 1 to Mch 31
88,397
Jan
1
Rochester Railway—
Jan
1 to Mch 31
106,003
315,162
July 1 to Mch 31
Rio de Jan Tram
£396,244
85,938
355 ,512
12,996 £def24,238 £def 18 .774
£31,764
£25,896
def.780
7,553
23,901 def.10,386
Oswego Traction Co—
Jan
Lt&P.Apr
104,166
Mch
11.775
34,797
Savannah Electric Co
Jan
1 to Mch 31
.
_
£def.2,077
£def. 1,366
1 .113,688 £1,171,402 £1,176.967
3,243.975 £2,285,711 £2,171,983
6,795
16,599
24,410
27,000 £df.33,963
81.000 £df.53,653
03,746
281.798
£105,909
£338,165
£df. 8,578
£df.l 1,078
£107,191
£387.194
45,812
10,904
32,712
4,294
11,825
5,556
18.077
Schenectady Ry —
Jan
1 to Mch 31
July
1 to Mch 31
Syracuse Rapid Trans. .Apr
Jan 1 to Apr 30
Syracuse Lake Shore A Nor—
...
29,881
109,133
25,471
100,376
Jan
1
to Mch
Jan
1
to
8.815
31
St Louis. .Apr
Apr 30
Railway Co—
230,893
924,626
231,704
927,225
70,991
148,824
1 to Mch 31
July 1 to Mch 31
United Traction (Albany) —
Jan 1 to Mch 31
July 1 to Mch 31
Utica A Mohawk Valley—
Jan 1 to Mch 31
July 1 to Mch 31
Whatcom Co Ry A Lt__Mch
Jan 1 to Mch 31
71,862
216,254
107,006 £df .37,0S2
£119,637
243,388
£l ,973
£90,507
86,581
259,743
£114,183
£344,224
£78,533
£206,658
44,964
134,727
3,758
11,566
£5,931
£134,701
4,126
14,835
£30,979
£149,392
United Rys of
1 to
Jan
Union
Jan
—
87,481
262,444
-
77,079
168,416
6,298
18,710
'
1,743
6.152
tor other Income received.
£
After allowing
c
Includes earnings of Detroit Monroe & Toledo
Ry. in 1907.
•
ANNUAL REPORTS.
Annual
Reports.—The following is
index to all
an
annua
railways and miscellaneous
companies which were published in last week’s “Chronicle.”
The othc^^iports cited since the last editions of the “Railway
reports of steam railroads, street
Railway” sections
and Industrial” and “Street
were
shown
in the index last week.
Industrials—
American Beet Sugar
1180
American Can
994
American Pneumat.Scr ..1181.1244
(bal. sheet Feb. 28)
1242 Anaconda Copper
1181, 1243
Phlla. Balt. AWash
992 Bethlehem Steel...-.
..1110
Vandalia RR
1178 Bush Terminal
1112
West Jersey & Seashore
1245
1108 Crow’s Nest Pass Coal
Western New York & Pennsyl’nlal 108 Diamond Match (com. report). 1110
Street Railways—
! General Asphalt
1243
Amer. Cities Ry. A Light.
1179 General Electric
1110, 1118
Chicago City Ry
746 Gottlleb-Bauernschmldt Strauss
Brewing
Chicago & Milwaukee Elec
11Q9|
1184
Consol. Ry. (bal. sheet Feb. 28) .1242 Intern. Mer. Mar. (adv. state’mt) 994
Georgia Railway & Electric
570 Lanston Monotype Machine— 994
Havana Electric
746; New England Tefeph & Teleg’h_1125
Interborough-Metropolitan.... .1242 Pennsylvania Steel
1111
1057
International Traction, Buffalo. 624 Pittsburgh Oil & Gas
Inter-State Railways, Phlla
570 Sears, Roebuck&Co.toffl state.) 1246
Louisville Ry. ^
567 Standard Screw
1185
Metropolitan West Side, Chicago 804 Tenn. Coal, Iron & RR
1179
New Orleans Railway & Light.. 868 Un. Box B d & Pap. (bal. sheet) 994
Phlla. Co. of Pittsburgh..1108, 1121 United Gas Improvement
1112
Twin City Rapid Transit
446 U. S. Realty & Improvement—1180
United Rys. Invest. Co., San Fr.1109 United States Rubber
1244
United Railways of St. Louis
688 U. S. Smelt., Ref. & Mln_1125, 1243
United States Steel Corp.(3 mos.) 1050
United States Telephone
.1180
Pape
Grand Rapids & Indiana
1050
Grand Trunk Ry. of Canada
1049
N. Y. New Haven & Hartford
Baltimore
Chesapeake & Atlantic Railway.
(.Report for Fiscal Year ending Dec. 31 190(3.)
President Charles E.
Pugh
says:
operations for the year show a satisfactory Increase In gross earnings,
$43,148; but that In freight earnings was not in proportion to the passenger
earnings, due mainly to the unfavorable season tor fruit and small vege¬
tables.
The decrease In operating expenses was caused by a saving In
maintenance of way and structures and maintenance of equipment expenses,
amounting to $37,729 70.
ft must be borne In mind, however, that the
Increase In wages and prices of material must add substantially to your
expenses during the coming year.
The general Income account shows the net Income transferred to the
credit of “profit and loss,” after the payment of Interest on funded debt and
taxes, and appropriating $40,000 as required under the terms of the Sup¬
plemental Mortgage of Oct. 23 1894, for betterments and Improvements, to
have been $41,436.
In addition to the above charges, a dividend of 5 %
on the preferred stock, amounting to $75,000, was paid out of the surplus.
The
22,907
89,144
£17,634
£70,277
756
Feb
£def .l ,950
£27.794
£679
—
16.550
33,98 0
30,051
12.632
23,049
-8,499
19,802
6.074
16.338
46,982
181,714
42,213
169,208
18,460
94,422
30,560
120,696
1,954
15.207
Gross earnings
Expenses—
Malnt. of way and struct
Malnt. of
equip
.
Conducting transp
General and miscell
.
..
Operating expenses
_.
Net earnings
.
Rents, Interest, Ac
Gross Income
Deduct—
Interest on bonds
Taxes
Extraord. exp
Transf. to hett’m’t fund
Advances M. D. A V. R’y
Dividend on pref. stock
Total
1906.
1905.
1904.
$504,488
300,943
$498,738
$468,452
104,582
269,644
98,4 83
251 .968
ill .119
$910,013
$866,865
$811 .540
$61,493
98,716
485,586
43,616
$63 156
$78,615
134,063
449,332
41,005
$689,411
$220,601
14,696
5694,589
$172,276
15,641
$703,015
$108,525
$235,297
$187,916
$115,943
$62,500
16,361
8,370
$62,500
3,152
$62,500
134,782
458,725
37,925
7,419
2.371
7.601
3.192
31,630
75,000
..(5%) 75,000 (2%) 30,000
Net Income for year
.
.
$268,861
def.$33,563
$98,844
sur.$89,072
$72,472
sur.$43,471
surplus Dec. 31 1905 was $403,030; deducting deficit tor 1906 after
payment of dividends, $33,563 and $61,801 paid In settlement of old
accounts leaves total surplus Dec. 31 1906 as per balauce sheet of $307,665.
GENERAL BALANCE SHEET DEC. 31
1906.
£14 672
£57,76 3
£30
-
Earnings—
Freight
Passenger
Express, malls, Ac
£97 .5 84
8,323
20,204
•
Toledo Rys & Light Co..Apr
Jan 1 to April 30
131,872
447,743
£def3, 179
Nil
Nil
994
Feb
Feb 28
Terre Haute Trac Co
Jan 1 to Feb 28
£19,614
£133,984
3.727
July 1 to Mch 31
Syracuse A Suburban—
Tampa Electric Co
55,056
155,309
1.078
1 to Mch 31
Jan
109,708
438,833
£97,930
2,789,724.rdfl401,409 £df926,367
8,404,774xdf2174,872 £dfl688280
41,091
1 to Mch 31
North Ohio Trac & Lt
Jan
1 to Mch 31.
Jan
57,839
356,905
Co—
July 1 to Mch 31
July
115,258
461,033
_
OPERATIONS AND FISCAL RESULTS.
217,333
712,493
Jan
92,500 £def. 14,481
41 ,113
62,896
349,409
219,738
481
4,235
108,548
393,505
88,583
203,614
,
Railroads—
12,815
12,346
37,345
721,031
2,967
16,123
42,301
—
248,858
743,637
32.108
£def2,343
£def .9,926
xdef.27.442
_
618
2,368
to
362
76,539 £def57,144 £defl5,913
£79,710
£57,080
229,414
78,314
233,599
100
3,412
1
July
27,666
80,748
1 to Mch 31..
184
713
Mch. 31
1 to Mch 31
Twin City Rap Tran Co.Apr
Jan 1 to Apr 30
Jan
rdcf.7,172
£4 ,661
8,127
32,309
78,595
Binghamton Ry
Apr
Jan
1 to Apr 30.
July 1 to Apr 30
Brockton & Plymouth..Mch
Jan
Current
Year.
S
Previous
Year.
$
Hudson—
&
Roads.
Troy & New England—
—Hal. of Net E'ngs.—
—Int., Rentals, &c.—
—Bal. ot Net E'nps.—
Current
Previous
Year.
Year.
S
S
—Int., Rentals, Ac.—
Current
Previous
Year.
Year.
S
5
Interest
LXXXIV.
Assets—
$
Road & equipment .3,750,000
Securities owned
3,302
Due from other cos..
•
7,628
Net traffic balances.
5,469
Due from asrents
14,843
Materials on hand
15.627
Miscellaneous assets.
14,286
Cash
446,572
1905.
:
$
|
3,750.000
3,302
9,835
4,539
12,787
11,686
11,942
500,927
1906.
Reserve funds.
Betterment fund
Miscellaneous
Profit and loss
Total
—V 82. p. 1319.
.
4.257,727 4,305.018
1905.
$
$
Common stock
1,000,000 1.000,000
1,500,000 1.500,000
Preferred stock
.1,250,000 1,250,000
Funded debt
Pay-rolls A vouchers
66,91254,115
20,833
20,833
Int. accr’d on bonds.
Matured interest
3.375
2.775
Liabilities—
Total
74,065
31.630
73,915
3.247
307.665
349
403.030
4.257,727 4,305.018
Maryland Delaware & Virginia Railway.
(Report for Fiscal Year ending Dec. 31 1906.)
OPERATIONS AND FISCAL
RESULTS.
$401,35 2 $356,938
215,075 Rents, Interest,&c
233,893
87,500
105,996
Mail, express, dec
$31,252
Gross income
Deduct—
Gross earnings. $741,241 5659.513
$100,000
1
bonds.
Interest
on
$58,070
Maint way&struc. 554,541
1,628
100,483 I Taxes
123,769
Maint. of equip
2,345
435,524 j Int., general acet.
Conducting trans. 493,890
2,927
31 ,571
39,092
$27,865
1,631
$106,900
$91,487
$01,992
529,949
1.303
Net earnings
—
Passenger
j Extraor. expend.
&e
Gen. exp.,
Operating exp. 5711,292 $631,648
GENERAL
S
$90,292
1,195
Assets—
.
-
.
41,067
325
75,005
1 ,708,1S3
Man’g’rs stk. con.
Temporary invest.
227.500
26,150
494.450
63.560
Cash
Accounts receiv...
125
1,395
-
SO,
.
...
Total
.5,185.783 5,101,279
-
decrease
Revenue passengers (number)..
Transfer passengers (number)..
1906.)
ending
Dec. 31
1905.
1906.
9,818,705
$1,036,327
51,517,372
$35,839
93,340
90,501
538,454
78,006
84,100
534 ,470
372,20!)
358,988
of way and structures—
of equipment
Car service
Total operating expenses
Per cent of expenses to earnings
Net earnings from operation
Income from advertising, rents,
$714,521
(41.82)
5993.942
18,591
...
&c..
...51,012,533
Total net income
Deduct—
Taxes.
Tax for special police.
I merest
1
---J
...
$80,793]
• 1
43,200
Dividends
(0)720,000
Total
Balance
5849,993
5102.540
BALANCE SHEET
1900.
$
1907.
5
7.051.199
Construction
Equipment
4.053,144
1.487.903
Real estate
Insurance reserve.
Cash
.13,873.817 13.301.997!
Total
—V. 82, p.
5633,706
(41.87)
5883,606
5976,114
5902,384
572,223
10,449
42,262
(0)720,000
583,562
10,44!)
(5)600,000
5844,934
5131 .180
5737,189
5105,195
18,718
43,178
1900.
1907.
30,1211 Tickets
110,193; Profit and loss
32.6701
3.000!
30.410
500.019
Extension account
$080,545
(41.09)
5955,782
20,332
JANUARY 1.
|
i
Liabilities—
7.035,2401 Capital stock
4,040,023 j Bonds
1,444,1501 Bills payable
30.122
114.421
Renewal fund —.
~
73,007
88,003
315,430
122,795
120,931
General expenses
■
Total...
$
•
S
12,000.000 12.000,000
1,080,000 1,080,000
405.000
51,844
50,185
330.973
171,812
13.873.817 13.301,997
920.
Light & Traction Co., New
Bor record
which
Brest. Emerson McMillin says:
General Results.—The increase in net earnings for the twelve months
the corresponding period last year was 5879,508. or 65.83%,
While
tins increase is largely due to the acquisition of new properties which have
been purchased since tlie last annual report, the increase in earnings of the
companies owned one year ago is considerable, notwithstanding the fact
that prices at which gas is sold by several of our companies have been
over
materially reduced.
Dividends.—The amount of dividends paid has increased
Dividends on common stock for the first six
were
56.44%.
rate of 4% per annum: for the last six months
at the rate of 5%.per annum.
The earnings of the company
over and above the sums required for the payment of
exceed 20 % on the outstanding common stock.
Reconstruction Reserve Account.—The decrease In net surplus
$423,567, or
months
at the
these divedends have been
for the year,
preferred dividends,
of 38.33%
is due to having carried 5680,500 from the surplus earnings Into
this
the
for
reserve account.
The total of
reserve and net surplus
the twelve
months amounts to 51.041,766, an Increase over last year’s surplus earnings
of 5456.001, or 77.85%.
Surplus.—The “total surplus” at close of fiscal year. Including reconstruc¬
tion reserve, is $3,170,644, an increase of 48.94 % for the 12 months.
The
total net surplus, after deducting the reserve, Is $2,490,144, an Increase of
16.97% for the same
period.
Traction Co.
Traction Co., San
BinghamJersey,
Electric Co., Madison
Electric Co.,|Muskegon Traction & Lighting Co.,
! Mus.Ccgon, Mich.
Properties Owned or Controlled bp American Light &
Milwaukee Gas Light Co. (Western I Southern Light &
Gas Co.), Milwaukee. Wis.
j Antonio, Texas.
Detroit City Gas Co.. Detroit, Mich, j Binghamton Gas Works,
St. Paul Gas Light Co.. St. Paul,Minn!
ton, N. Y.
St. Croix Power Co., Somerset, Wis. j Consolidated Gas Co. of New
Grand Rapids Gas Light Co., Grand!
Long Branch, N. J.
Rapids, Mich.
! Madison Gas &
St. Joseph Gas Co., St. Joseph. Mo.
| Wis.
Quebec-Jaeques Cartier
Quebec, Canada.
RESULTS FOR
1906.
CALENDAR YEARS.
1904.
1905.
Gross earnings
Expenses
52,263,736
$1,007,002
$970,479
144,503
110,371
$1,151,504 SI.080,850
18,993
30,539
52.215.736
$1,336,168
$1,132,51 1
$563,814
51.050,311
$553,060
48,000
-
surplus
37,452
(0%). 5853,068
$570,822
(4 *4>320,902 (3 U) 179.581
Total dividends
Balance, surplus
Reconstruction reserve._
1903.
$1,222,785
150,835
$1,373,620
Earn’s on stock of suh.cos.52,070,508
Misc. earnings, int., &e..
193,228
Net earnings
Div. on pref. stock
Div. on com. stock
$1,173,970
51,041,766
680,500
5361,266
(2M) 105,318
5750,403
$669,132
$585,765
$463,379
5585.765
5463,379
$553,060
$497,251
5497,251
of Pres. McMillin, the dividends
actually paid during the calendar year 1906 were two of 1 % each (on Feb. 1
and May D and two of 1 % % each (on Aug. 1 and Nov. 1): total, 4y2 %.
Note.—As stated
entirely
materially our traffic in these
States.
for the operation of steamers, including charter paid for
steamers, decreased $000,081; general expenses. 527,438; Insurance, 520,151,
and interest on loans, &c., 57.696, a total decrease of 5001.306.
There
Expenses
was an
increase in agency expenses
of $00,558, partly the result of an ad¬
549,054 for lighterage
1900, which were charge¬
which the records were
destroyed in the San Francisco lire
This leaves a net decrease in expenses
of 5600,807.
After deducting 510,412, expenses incurred in caring for the passengers,
baggage, &t\, of tlie Manchuria and of the Mongolia, and the usual charge
for depreciation, and general and extraordinary repairs of steamers there
remained a surplus of $130,404. against 5282,884 for the preceding year, a
decrease of 5152,481.
In addition to the interruption of the regular service of the steamers by
strikes and the expenses incident thereto, the cost of operating steamers
was materially increased by an advance in wages ranging from 15 % to 33 %
in all departments of the ships and by the greater cost of all materials and
supplies, particulaily of coal. The sum of 5397,880 was credited to the
fund for depreciation and general and extraordinary repairs of steamers
and charged to the year’s expenses.
After charging this fund with the
payments made for its account, $1,725,934 remained to its credit at the
close of the year.
The Insurance on steamers was renewed and $125,867,
the premium chargeable to the year’s operation, was charged to the year’s
expenses.
During the summer of 1906 the two chartered ships, Manchuria and
Mongolia, met with serious disaster, the former on Oahu Island and the
latter on Midway Island.
Both vessels and cargoes were saved hut the
Manchuria was damaged so that she was unable to resume service and was
put in dry dock for repairs last November. She was to go into service
June 1, hut is still held in dry dock by the present strike in San Francisco.
The Mongolia was temporarily repaired and resumed service after a slight
delay, hut permanent repairs will he made to her when the Manchuria goes
into service.
The cost of these repairs are borne by the owner of the ships.
The indebtedness to the Southern Pacific Company, incurred partly In
paying for the steamships Korea and Siberia, costing 53.974,704, was dis¬
charged during the year, and the company has no other debts than those
for current expenses, which amount to 5209, 500.
Against this indebted¬
ness file company has on hand April 30'1907 cash $343,328 and other
in wages, but principally from a payment of
charges at Panama in February, March and April
able to tile expenses of the preceding year hut of
above in the remarks
$319,510.
1906-07. . 1905-06.
.54,659,040 $5,512,917
15,180
15,180
Miscellaneous collections
168,302
134,757
Income from Investments,&c.
30,262
27,878
1904-05.
1903-04.
55,592,822 $3,439,113
15,180
15,180
155,304
136,254
12,477
11,219
...54,839.245 $5,724,337
55,775,783 53,001,760
Receipts—
Fiscal Year ending Dec. 31 1906.)
purposes, wo print the following report
ready early in the year.
Net
very
extensive commerce and which were
EARNINGS, EXPENSES. Ac.
York.
(Report for
was
settled
the diversion of
San Francisco of
accommodations and other accessories which are
tonnage
current cash assets
American
the greater part was the result of
during the re establishment in
vance
Operation of power plant
Assets—
1004.
...10,207,816
..39,049,442
14,499,160
..51,708,463
Operating Expenses—'
Maintenance
Maintenance
on ocean
9,708,974
capital stock.—V. 84. p. 933. 100.
scattered by the fire of April 1900; also, from the lower rates
which prevailed during the entire year and from the un¬
civil condition In the Central American Republics, which reduced
destroyed or
.
Gross earnings
warehouses, hotel
required in carrying on an
Washington, D. C.
(Report"for Fiscal Year
Total liabilities.33,220.469 27,635,663
A part of the decrease In operations of steamers
that the trans-Paclflc line made four less trips this
year than last, but by far
traffic to other channels
stores,
Capital Traction Co.,
7.062
8,502
(Preliminary Report for Fiscal Year Ending Apr. 30 1907.)
President E. H. Harriman under date of May 29 1907 says:
Compared with the preceding year, the receipts from the operation of
steamers decreased $853,871 and from all other sources 532,221, a
total
.5,185,783 5,101,279
-
179,204
192,029
Pacific Mail Steamship Company.
1058.
p.
SS,239,300 of the company’s common
x
.
Total
9.633,200
080.500
298,052
(Dividends accrued
2,970! Deposits on man.
409.7391
stock contracts.
24,413! Taxes, «fcc.. in adv.
—
33,220,460 27.635.664!
of $885,092.
resulted from the fact
.
—V.
IReconstruc. res’ve
Certif. of indebt...
50,149
41,007
00,924
1905.
$
1906.
$
Liabilities—
1
Investment acct.126 ,739.735] 24.103,177' Preferred stock... 14,236,200
\
1,299[Com. stk. in treas. 8,239,300 10,246,900
Furniture & flxt.j
ljCom. stk. outst’g. 6.760.700 4.753.100
xl
Treasury stock
500,000
500.000
Und.prof.sub.cos-. 2 .385.332 1,468,1501 Bills payable
1,625,903| Undivided earnings.2,490,144 2,131,231
Bills rec. sub. cos. 1 ,575,537
1,500.000 1.500.000
.1,500,000 1.500,000
.2,000,000 2.000,000
1.943
1.803
Ruud & equipment- .5.000.000 5.000,0001
13,487 Preferred stock
15,120
Securities owned...
4,709 Funded debt
4,714
Due from other cos.
4.710 Reserve fund
5,047
Net traffic balances
11.514 Pay-rolls & vouchers
11.517
Due from agents
3,982 Int. accrued bonds.
2.304
Materials on hand.
17,053 Matured interest...
25.304
Miscellaneous assets
20,234 Misc. liabilities
28.173
Cash
19.530
93.538
Profit and loss.....
DEC. 31.
|
1905.
S
1906.
S
Total assets
S
Liabilities—
Common stock
%.—Ed.
CONDENSED BALANCE SHEET
1905.
S
1906.
however, for the several years were
r
total. 2K
BALANCE SHEET DEC. 31.
1905.
S
1906.
Assets—
$29,490
$75,647
Deficit
The earnings,
follows:
1905.
11 Mos.
1900.
Year.
1905.
11 Mos.
1906.
Year.
Earnings—
Freight
charged with dividends
1906—May 1906, 1 %; Aug. 1906, 1 H %; Nov. 1906, 1H %: Feb. 1907,
l H %: total, 4H %.
1905—One-half (*4%) of 1H% paid May 1905; Aug. 1905, 1 %; Nov.
1905, 1 %: Feb. 1906, 1 %; total; 3?i%.
1904—Nov. 1904, 1 y2 %; one-half (*4%) of 1H% paid
Mav 1905;
as
controlled by the Baltimore Chesapeake
guarantees the bonds, reports:
This company,
& Atlantic, which
1303
THE CHRONICLE
June 1 1907. j
Gross
Mails
receipts from steam’s.
Total
Expenses—
Steamer expenses
$3,496,125
54,102,136 S3,624.136 $2,276,963
508,414
Agency expenses
568.973
General (lnclud. Insurance)220,082
2,76!)
Miscellaneous expenses
Interest on loans.
Loss, San Francisco fire
550,001
260,355
437,137
228,241
2,044
12
393
8.420
46,266
80,972
148,547
Lease piers San Francisco—
Gen. and extraor. repairs, &c.
General average expenses
Total
Balance, surplus
V. 83, p. 1096.
274,271
397,549
414,292
371,073
495,083
54,708,841 $5,441,452 $5,348,127
5130,404
$282,884
5427,656
314,823
16,341
53,354,870
$240,896
—
International Nickel Co., New
York.
(Report for Fiscal Year ending March .‘U 1907.)
report, under date of May 28, says:
Bonded Debt.—Total amount of bonds originally issued, $10,390,836;
bonds bought, canceled and held by the sinking fund trustees, $584,000;
held in the treasury for future sinking fund requirements, $455,000; remalndei in hands of the public, 59,351,836.
Condition of Plants and Reserve Accounts.—During the past year $1,390,071 was expended for new construction, equipment and replacements.
During the same period there has been provided out of earnings $409,789
for the following funds:
Regular allowance for depreciation of plants,
$159,055; exhaustion of minerals, $89,484; and bond sinking fund,
$161,250.
There has been appropriated from the surplus for further de¬
preciation of properties, $600,000. As our sales are either for cash or are
guaranteed by selling agents, we have not provided any contingent or
reserve fund for the collection of outstanding accounts.
As yet we have
had no losses.
Insurance.—As the construction of all the buildings erected during the
past fiscal year with the exception of rock houses has been of steel and
concrete, we have been able to largely reduce the cost of insurance.
Profits of Foreign Companies.—The transactions of the Nickel Corpora¬
tion, Limited, ami Societe Mlniere Caledonlenne for the current year are
not
included In this report, but from the latest accounts received the
results will not be materially affected.
To have Incorporated the meagre
operations of these companies would have delayed our report materially.
The
Remarks of Treasurer
James L. Ashley.
actually made to customers,
The profits are computed on the sales
all Inventories are taken at cost.
Include no inter-company profits.
The company
than the current hills for labor and
All purchases of material, supplies,
are
sible advantage Is taken of discounts for
and
Finished material and material In process
has no floating debt other
supplies In the process of audit'ng.
paid for In cash. Every pos¬
&e.,
part of
interest.
the cash on hand is
In the trust
such settlements. The major
companies, drawing full rate of
/
Monell.
During the past fiscal year the new power plant In course of erection at
the falls of the Spanish River, Ontario, Canada, has been in successful
operation. The saving in costs —due to the use of this power— has justified
the installation of a third unit and electrically equipping the mine hoists
and compressors.
The policy of replacing-all wooden buildings by modern
steel and concrete construction has eliminated the risk of any serious sCut
down due to fires.
The board of directors has deemed it advisable to
appropriate from the surplus the further sum of $600,000 to write down
the cost of properties.
This appropriation is set forth in special entry' upon
Our efforts during the past year to introduce nickel
the balance sheet.
into new commercial arts have met with continued success.
Our export
trade has shown a commendable increase over the records of our last fiscal
year, although competition abroad Is active and is always to be expected.
The business of the company for the past year has been very good,<-and
there is still every promise of increased business for the coming year.
BALANCE SHEET MARCH 31.
of President A.
Remarks
Earnings of constituent companies
(administrative and selling expenses
Plant, Ac.
Material. Ac
Accounts <fc
receivable
Cash.
*
Exhaustion reserve, adjustments,
Sinking fund reserve.
$2,095,003
147,000
$1,430,382
144,667
$2,694,226
$1,948,003
$1,285,715
369
.9,737
3,723
$2,694,595
164,187
$1,957,740
99,207
$1,289,438
118,081
$2,530,408
$490,175
(6)534,730
$1 .858,533
$1,171,357
$497,900
(3)267,361
$503,263
$1,505,503
1,100,848
$1,093,272
987,030
$668,094
763,251
$2,606,351
89,484
161,250
600,000
$2,080,902
114,054
266,000
600,000
$1,431,345
443,715
$1,755,617
$1,100,848
$987,630
&c.
Total
—V. 84, p.
1907.
1906.
I
$
$
I
Property account.26,942,182
57,832
Investments
Advances to constituent cos
308,927
Inventories at cost 2,480,087
472,595
Accts. receivable..
Miscellaneous advances, &c
35,650
314,505
Cash
26,731,9631 Common stock... 8,822,662
8,912,626
57,082 (Preferred stock
|Stocks of cons. cos.
a After deducting
—V. 82, p. 1210.
$
8,822,662
8,912,626
398,4501
not held by Int.
54,698
2,153,7721 Nickel Co
54,698
271,8351 Net bonded debt.. 9,351,837 9,770,837
| Accounts payable
61,8851
725,395
and pay-rolls—
860,094
6.66S
589,7661 Accrued taxes
6,657
| Bond interest Apr.
246,225
249,450
|Div. due May
133.683
133,682
467,667
487,897
IDepr.&ren. fund.
surp.al,755,617
| Profit & loss
1,100,848
..30,611,778 30,264,7531
Total
1906.
1907.
$
Liabilities—
30,611,778 30,264,753
Total.
$600,000 reserve for depreciation of properties.
1907.)
{Report for Fiscal Year ending March 31
President Instill says:
the company’s business during the year has called for
capital stock from $12,011,203 75 to $13,614,115 (V. 82,
p 511).
In addition your directors have caused to be Issued $5,000,000 of
5 % 3-year gold debentures, all of which have now been sold, and of which
$1,016,000 had been delivered to the purchasers at the close of the com¬
The growth of
Increase of Its
an
pany’s books on March 31 (see V. 84, p. 695, 1054). The accounts and
Dills payable, which at the close of the fiscal year amounted to $1,090,538,
than $100,000.
YEARS ENDING MARCH 31.
RESULTS FOR
Equivalent 16 c.p. lamps
end of year
Gross earnings
Operating expenses
Net earnings
Interest
1906-07.
1905-06.
1904-05.
1903-04.
1,924,886
$5,317,359
1,660,108
$4,744,823
1,307,631
$3,837,659
2,515,040
3,610,111
3,194,798
1,475.699
$4,051,082
2,627,468
$1,707,248
$1,550,025
$363,976
887,556
$1,423,613
$360,232
789,262
$1,322,619
$307,088
720,526
$298,493
100,000
$274,119
100,000
100.000
$295,005
100,000
$242,154
$198,493
$174,119
$195,005
$365,240
Dlvs., 8% (2% Q.-F.)-
999,845
Balance, surplus
Special deprec’n reserve.
$342,154
Balance.
BALANCE SHEET MARCH
A ssets—
1907.
1906.
$
$
31.
1907.
lAabilittes—
1906.
$
$
Ac...23,703,712 20,291,885 Capital stock. 13,614,115 12,011,204
Funded debt. 7,999,000
6,983,000
40,000
40,000
465,415| Real cst. mtgs.
448,280
&c
Work In prog¬
ress,
Accounts
re¬
ceivable, &c
Cash
Open accounts
Total
—V. 84, p.
785.041
345,577
30,323
Bond int. accr.
891,107 Accts. payable
248,112 Depr’n reserve
41,509 Surplus
Total
25,312,933 21,938,029
1054, 998.
167.424
163,131
1,090,538
990,000
1,411,856
680,992
890,000
1,169,702
25,312.933 21,938.029
Commonwealth Electric Co., Chicago.
{Report for Fiscal Year ending March 31
President Insull makes the
1907.) •
following statement:
Further enlargements of the company’s Flske Street turbine plant and
of Its distribution system during tnc last fiscal year have called for the
Issue of $2,250,000 of additional stock and $1,000,000 of additional first
mortgage bonds.
Results for Years ending March 31.
1906-07.
1905-06.
1904-05.
1903-04.
Equivalent 16 c. p. lamps
I* connected
1,313,852
973,752
Earnings from electric cur
rent and merchandise sales.$3,524,729 $2,507,772
Operation, repairs, renewals
and general expenses
2,588,158 1,803,214
Net Income from all sources
Deduct Interest on bonds
Balance
Special depreciation reserve.
Surplus for year..
7,750,000
7,500.000
180.000
314,500
72,755
61,704
187,498
49,858
971.833
..
54,354
1,366,383
.20.970.057 17.088,149
Total
Co., Philadelphia.
(Report oj May 2?* 1907 on
Philadelphia Gas Situation.)
Morgan, under date of May 23
City Council of Philadelphia with a
long statement to show the inadvisability of the city’s exer¬
cising its option to terminate on J)ec. 31 1907 the lease of
the municipal gas plant to the United Gas Improvement
Co., which operates the property under the title of the
Equitable Illuminating Gas Light Co. This statement was
published in full in the “Philadelphia Financial Bulletin” of
May 25. Some of the leading statistics are shown below,
Mr. Morgan saying in substance:
Vice-President Randal
1907, has furnished fho
Cash payments for each 1,000 cubic feet of gas
city, under the terms of the lease as follows:
Cash Payments to City (per 1,000 Cubic Feet)
ending Dec. 31 1907, 10c. | For
ending Dec 31 1912, 15c.| For
sold must be made to the
Under Terms of Lease
5 yrs. ending Dec. 31 1917, 20c.
10 yrs. ending Dec. 31 1927, 25c.
During the first nine years of the lease the total cash payment thus made
to the city on account of rental was $4,653,151. As additional rental, there
Is also paid to the city all gas required for gas street lamps, and the lighting,
cleaning and extinguishing the same, and all gas used for illuminating pur¬
poses in public buildings, all without charge.
The amount of gas sold to consumers and
furnished free to the city for
public street lighting and for illuminating public buildings during
years ending Dec, 31 1906 has been 52,758,903,048 cubic feet.
The cash receipts were
The uncollected bills on
$46,531,508
597,952
Dec. 31 1906 were.
Making a total of
Deducting the 10% paid the city as
above ($4,653,151) and
$47,129,460
city’s 10% ($59,795) of bills uncollected Dec. 31 1906.
the
the nine
4,712,946
$42,416,514
Total amount retained by the gas company
52,758,903,048 cubic feet shows the actual amount
Dividing this sum by
1,000 cubic feet retained by the company, after payment of all rentals,
excepting the expenditures for betterment and improvement of the plant,
and excepting the cost of lighting, cleaning and extinguishing the public
lamps, to have been, for the nine years ending Dec. 31 1906, 80.40 cents.
Applying this method of calculation through the full thirty-year term,
estimating the sales on a basis of growth of 3% per annum, the comper
Eany
will1907,
receive,
cubic
feet ending
of gas, Dec.
for the
>ec. 31
cents:
1,000
for the
5 years
10 years
cents;
80.66 per
31 1912,
78.12ending
Chicago Edison Company.
have since been reduced to less
Surplus account
17.08^.149
20.970,057
696, 627.
For 10 yrs.
For 5 yrs.
GENERAL BALANCE SHEET MARCH 31.
Assets—
Bond int. accrued.
'
i
1091
Total net incon
General expenses.
1906.
$
•
United Gas Improvement
§2,853,281
159,055
Other income
$
$
Assets—
1904-5.
1905-6.
1906-7.
1907.
Liabilities—
$
..19,811,989 16 074.936 Capital stock
10,000000
279.097
370,6181 Bonds & debent’s. 8,500,000
Real estate mtges.
notes
180,000
510.675iDepec’n reserves..
588,188
450,500
19,730
290 783
lz.r>.9201Open accounts
Mun. comp'n res..
86,239
j Accounts payable:
312,851
1906.
]907.
YEAR ENDING MARCH 31.
RESULTS FOR
Plants.
[VOL. LXXXIV
THE CHRONICLE
1301
727,975
604,194
$1,816,765 $1,350,999
1,228,404
834,735
$936,571
406,022
$704,558
363,889
$588,361
305,069
$516,264
$530,549
136,000
$340,669
119,000
$283,292
102,000
$240,527
93,500
$394,549
$221,GG9
$181,292
$147,027
275,737
for the 5 years ending Dec. 31 1917, 74.52 cents; for the 10 years ending
Dec. 31 1927, 70.04 cents; and for entire 20 years beginning Jan. 1 1908
and ending Dec. 31 1927, an average of 72.68 cents.
Out of the amounts which the company will retain, It must discharge
the cost of lighting, cleaning and extingulsdlng the public street lamps,
the cost of producing and distributing the gas and of maintaining the plant,
and must also reimburse Itself the amount which it has heretofore expended
In extension, Improvement of the city’s property to Dec. 31 1906, with
an estimate added of $1,000,000 per annum for 1907 and for each year
thereafter, amounting In all to $34,325,492.
In the figures given above no consideration
has been taken of this actual
cash expenditure made and to be made upon the city’s property, because
if the lease be terminated, then the principal with Interest will be paid to
the company, amounting to $19,473,189’ but If the lease shall not be termi¬
nated and shall continue till the end of the period of 30 years, then the
amount that has been expended and will be so expended hereafter, must
be deducted from the company's receipts, which will reduce the average
amount retained by t!:.* company during the 20 years beginning Jan. 1 1908
and ending Dec. 31 1927 from the figures stated above of 72.68 cents per
1,000 cubic feet of gas to 61.52 cents.
The lease provides for a 22-candlepower gas, and annual messages of the Mayor In each year show the av¬
erage
candle-power to have ranged, for the eight years ending Dec. 31
from 22.50 c. p. as a minimum to 23.84 as a maximum.
The gas works have to-day 1,300 miles of mains; 269,718
1906,
meters set; the
workable capacity of the plant In 24 hours is 41,000,000 cubic feet; the
maximum consumption of any day in 1906 was 39,057,000.
Our estimated,
casli requirements, if the lease shall not be terminated, for expenditure upon
plant in 1907 anci for contracts for construction to be undertaken in 1907
and completed In 1908. based upon the continuation of growth of the city,
the new buildings built in 1906 having been 10,551, is $1,740,761.
Since
1896 we have connected 20,000 gas ranges.
Results to the City for the 10 Years ending Dec. 31 1907 (1907 Estimated).
Betterments
Street Lamps Pub.Bldgs
Cash
Calendar
Received.
Year.
189.9
$268,459
351,469
1900
385,131
1897-1898x_
1902
1903
1904
1905
1906 ___•
1907
Total
_
90-ct. Gas.
429,814
519,965
645,685
652,943
‘453,717
679,933
719.752
740,492
469,184
480,605
479.153
$5,393,643
$4,457,816
Appraised value Phila.
plant, 1907 (estimated)
Tot.
$439,647
411,723
422,140
418,106
437,815
445,726
Gas
Expenditures.
90 ct. Gas.
$3,144,162
2,473,648
1,171,024
613,987
969,534
1,235,845
1,000.825
745,895
910,572
1,000,000
$101,776
81,725
70,384
69,551
78,704
88.270
96,622
90,846
88,250
88,250
$854,378
$13,265,492
Improvement Co.
Interest.
$1,699,728
1,187,351
491,830
221,035
290,860
296,603
180,149
89,507
54,634
$4,511,697
1,060,000
636,000
repayable to co, if lease Is ended Dec. 31 ’07.$14,325,492
$5,147,697
t
x
For 13 months, Dec. 1897 and year 1898.
y
Expenditures in betterment of the city’s plant made by the tenant
according to vouchers filed with the City Controller and verified by him.
Such betterments if the lease shall not be terminated at the end of the first
ten years become the city’s property without reimbursement to the com¬
pany, but If the tenancy shall be terminated on Dec.31 1907 the lease re¬
quires the city to pay to the company the actual amount thereof with In¬
terest
"The total aggregate sum of the foregoing
years 1898 to 1907, exclusive of “Interest,”
.
Price of Gas, etc., if
results to the city for the ten
is therefore $25,031,329.
Lease Is Permitted to Run the Remaining 20 Years.
The lease provides that the price of gas shall be $1 per 1,000 cubic feet,
unless otherwise provided by Councils, who have absolute authority to
reduce the price to the following figures, viz.: From the date of the lease
to Dec. 31 1907, 90 cents per 1,000 cu. ft.; from Jan. 1 1908 to Dec. 31 1912,
85 cents; from Jan. 1 1913 to Dec. 31 1917, 80 cents; from Jan. 1 1918 to
Dec. 31 1927, 75 cents.
The city to receive all sums collected from sales
gas in excess of the above schedule, viz.: From Dec. 1 1897 to Dec. 31
all sums In excess of 90 cents per 1,000 cu. ft.; from Jan. 1 1908 to Dec. 31
1912, all sums in excess of 85 cents; from Jan. 1 1913 to Dec. 31 1917,
sums In excess ol 80 cents: from Jan. 1 1918 to Dec. 31 1927, all sums In
excess of 75 cents per 1,000 cu. ft.
of
1907,
all
Estimated Results to
City 1908 to 1927.
of
under the
in sales of 3%,
$1,144,060 in
20-cent rate,
the sum reaches $1,768,373, and in 1918 and 1927, at the
rate,
and
respectively.
25-cent excess
$2,562,536
$3,343,528
Total for the 20 years
$44,839,063
Free street lamps and free gas to public buildings based on
85-cent gas from 1908 to 1912, 80-cent gas 1913 to 1917 and
75-cent 1918 to 1927, and an estimated consumption of
637,647,300 in 1908, gradually rising to 774,447,300 in 1927. 11,088,745
Cash receipts to city based on the present price
gas
foregoing provision, and an annual increase
affording the city at the 15-cent excess rate
1908 and increasing gradually until in 1913 at the
Pennsylvania RR..
local, 114,017 tons.
Tables show the coal
tons:
tons;
production of Consolidation Coal Co.
(see V. 78, p. 1272):
PUts. A
Consol.Coal.
Somerset.
Year—
Fairmont. Clarksburg.
Fair.
4,257,999
1,533,714
404,009
1906
2,128,879
669.534
1905
2,096,213
.3,748,230
564.918
1,352,539
371,064
1904
1,833,371
3,750,176
489.790
883,493
352,522
Coke produced in 1906; Fairmont, 145,828 tons, against 106,085 in 1905
and 68,473 in 1904; Somerset, 25,868 tons, against 50,183 in 1905 and 271
..
1906.)
12 1907, says:
General Results.—The results for the year were, on the whole, satisfactory,
although unbusinesslike methods on the part of certain competitors pre¬
plate glass that were war¬
conditions. $19,232,694. The com¬
vented the realization of the factory profits on
ranted by the prevailing prosperous business
Our total sales for the year 1906 amounted to
pany had the benetlt of only part
of the year only.
and for a portion
Depreciation—Fires, Ac.—In September our Cleveland warehouse was
destroyed by Are, involving a net loss to our company of $102,699.
Earlier
of the increased capital,
in the year the St.
These losses were
and are included
Louis plaster plant was burned, causing a loss of $35,523.
due to the impossibility of securing adequate insurance,
in the amount charged for depreciation. The sum of
$4,310,608
Other Income
497,232
Total receipts
$4,807,840
Operating expenses, depreciation on
2,877.405
mining plant, and taxes
Net receipts
$1,930,435
Deduct—
Interest on debt duel. C. & P. RR.)
$291,986
Reserve fun’d.
Sinking fund (incl. C. & P. RR.)
124,887
Interest on special bills payable
Dividends
(8) $820,000
Depreciation
78,122
Miscellaneous
6,736
Total
$973,104
$18,000
740,556
$179,193
$214,548
$13,635,997 $12,530,860
2,787,125 2,720,137
990,500
890,532
4,313,497 3,710,817
Total
.$24,504,393 $21,727,119 $19,852,346
Liabilities—
$16,735,300 $12,342,600 $12,342,600
Stock, common
Stock, preferred
150,000
150,000
150,000
Bills and accts. payable.
2,110,009
4,218,174 2,784.625
Insurance reserve
204,824
159,726
121,885
Sink, fund—Chic. bldg.
37,000
Surplus
5,267,260
4,856,619 4,453,236
$14,225,466
3,732,337
994,600
3,806,127
Dlvs. on ($150,000) pre¬
ferred, 12%
Divs. on common. 6%..
Depreciation
Bal., surplus
for year.
A SS€t$—~
Property$14,809,515
Plate glass, <Scc
3,069,433
Materials, &c., accounts
1,562,559
Cash, bills & accts. rec’le 5,062,886
$24,504,393
Total
—V. 84, p.
697, 342.
Assets—
Plant,
inventions
terns,
&c
dry
sold,
parts
unexplred in¬
machinery
for
surance
premiums,'bot¬
and balances
tles sold,
due on
complete ma¬
chines sold
Royalties accrued ($56,488
paid March 9 1907)
Notes receivable
Investment — stock
o f
Thatcher M fg. Co. x—.
..
Cash
Total...
Mines.real est.,&c. 8 ,625,332
Penn.RR.. 3 .526,904
Reserve fund lnv.x2 004,867
Steamers,
tugs,
690,006
barges. Ac
61,623
Canal boats
Shares
of
other
co’s (book val.).y5 .985,795
Company’s own
Insurance
(4)410,000
103,683
17,594
$1,172,704
$402,290
SHEET DEC. 31.
$946,367
$520,336
174,115
$1,321,731
$608,704
1905.
$
1906.
$
10.250,000 10.250,000
1.500,000 1,500.000
8,250,000
1,000,000
70,320 Sinking fund—
Con. Coal Co
230,605
393,796
6.039,010 Cum. A P. RR..
Reserve fund
2.097,451
43,523
1,135,000 Acc’d Int. on bds.
Acc’d s. f. on bonds
85,053
balances..
Traffic
13,123
197,619
.
8.250.000
1,000,000
197,619
350,851
2,056.329
43,523
10,607
1&.245
6X685
259,205
112,000
101,763
19,503
615,000
85,298
Pay-rolls
Marine ins. fund..
BillsAacc’ts pay’le
1.750,000 Due B.AO.RR.Co.
259,205 Miscellaneous
350,851
266,166
238,837
19,655
358,750
145,035 Dlv.payable Feb.l
A
Profit
loss
8urp.
3,392,807
502.049
351,279
813.912
....
2,783.780
207,868
800,791
47.059
260,677
28.225,064 27.634,010
$10,178,400, viz.: Cumberland A Pennsylvania
$6,001,200; Somerset Coal Co., $2,001,100;
$74,500, and preferred. $74,500: Canal
Contracting Co., $20,000; Metropolitan
Co., $1,000.
total par value,
Stocks owned,
V
RR. Co., $1,500,000: Fairmont Coal Co ,
Coastwise Transportation Co., common,
Towage Co., $5,000; Md. Construction &
Coal Co.. $501,100: Rapid Coaling A Transfer
$14,450 undistributed expenses.
These include
z
reports of the
See also the
Co. and the Somerset
subsidiaries, the Fairmont Coal
Coal Co., below.—V. 84, p. 696, 161.
Somerset Goal Company.
1906.
$
$464,000
2,500,00!)
'
29,060
27,000
96,768
Gross earnings
1,957,370
Oper. exp., depr’n
of plant&taxes.l ,577,521
$3,116,828
shares com¬
Dividend of this amount
1905.
527,084
360,175
FISCAL RESULTS.
1906.
|
I
$
on bonds.. 152,318
1 ,606,271 || Interest
Interest on loans-. 17,941
27,763
1 ,376,842 | Royalties
7,067.156
1,171.532
964.519
151,677
and
53.159
440.000
-
Treasury bonds
Bds. collat. to loan
Indiv. A co’s for
coal sold
Coal on hand
Bills & acc’ts rec’le
500,000
291,616
26.571
96.986
-.
6,650
17,902
Securities owned..
Miscellaneous
10.787.768
Total
—V. 84. p.
$
150,040
4,645
2,419
25,122
40,576
2,160
-.246,452
250,8741 Surplus for year. -.160,237
222,543
28,331
46,011
Sinking fund
229,429 Insurance
21,445
Total
—
GENERAL BALANCE SHEET DEC. 31.
1906.
S
1905.
1905.
$
Liabilities—
1900.
$
4,000.000
7.035.587 Capital stock
912,293 IstM. bds. (V. 74.
4.000,000
p. 382, 430)
....
151.677
46.080
134.521
250,000
99,697 Sink, fund reserve
Pay-rolls
...
200.62G Accounts payable.
492,000 Bills payable
500.000 Consol. Coal Co. loan
65.167
Accr’d int. on bds.
916,000
190,584 Car trust bonds
224,028
33,649 Indiv. & co.'s
8.070
63.505 Miscellaneous
992.224
Profit and loss
p
13.357
9,541,298
10,787.768
Total
1905.
$
4.000,000
4,000,000
99,697
43,440
93.346
300,000
100,000
62.667
4,213
9.035
828,900
9,541.298
697.
Clarksburg Fuel Company.
(of Maryland).
Mine—
1906.
Ocean No. 7...1,084.156
115,662
Ocean No. 8...
$
..406,689
Total
Sinking fund
Cash on hand
in banks
5,000
29,463
1905.
379,850
26,840
Net earnings
Misc. Income
Assets—
Mines A’real estate
Plants A equipm’t
Car equipment
58,955
20,000
mines was as follows:
1905.
1,036,663
126,664
by lessees of the company on royalty amounted to
compared with 337,843 tons for the year 1905, an Increase
of 30,449 tons, a
(6)615,000
96,073
4,723
Bonds—
Con. Coal Co
540,376 Cum. & Penn.RR.
266,166
165,314
586,922
.187.244
249.525
277.288
000), $131,531.
(Report for Fiscal Year ending Dec. 31 1906.)
President C. W. Watson, March 20 1907, writes in part:
Tonnage.—The total output for the year of coal mined by the company
was 2,128,879 tons, an increase of 32,666 tons over that of the preceding
year, and the largest in the history of the company.
The output (in tons)
368,292 tons, as
$88,144
2,316.035
,750.000
fund—
1595.
494,577
273,619
109.867
$247,204
28.225,064 27,634,010
Total
x These include 24,702 acres Pennsylvania coal lands, $709,514; 11,566 acres
W. Va. coal lands, 189 acres surface land, $1,219,357; Cassvllle A Monongahela
RR. Co. stock ($20,000,000), $4,466: Pittsburgh & Fairmont Fuel Co. bonds ($142,*
22,379
Consolidation Coal Company
1906.
$1,466,703
Liabilities—
8.610,179 Stock C. C. Co
3,497,422 do Cum.AP.RR_
393,796
Total
preferred
was
$43,685 43. Dividend No. 2, the
of dividends on preferred stock to Jan. 1 1907 at
Mine—
Ocean No. 1
Ocean No. 3
Ocean No. 3^
The coal mined
$1,574,994
106,526
46,305
OPERATIONS AND
[Surplus
Total
preferred 7 % stock, par value $100 per share; 50
of the leading
2,995,589
1040).
148,125 Due on merchandise, pay¬
rolls,
accrued
taxes,
84,929
water rent, &c
Advance payments from
|
licensees on bottle ma¬
chines ordered
additional accumulation
rate of 7% per annum amounts to $47,522 38.
declared March 19 1907, payable April 1 1907.
230,605
Materials
Due for coal sold..
Bills & acc’ts rec’le
Cash
Coal on hand
Loans to sub.co’s..
Miscellaneous ....
value $100 per share.
Note.—Dividend No. 1, being the accumulation of dividends on
stock from date of its issue to July 1 1905 at rate of 7 % per annum,
paid Jan. 10 1907. It amounted to
—V. 83, p.
103,000
bonds in treasury
Consol. Coal Co’s
IstM. sink, fund
Cum. & Penn. RR.
IstM. sink, fund
Bonds
to
retire
outstand’g bds.
TAnhUitip*
.$3,116,828
N x 50 shares
mon stock, par
2,902,491
car
Preferred stock
$2 ,747,978|{Common
stock
Products and material
Due to company for sun¬
$4,462,292
$22,758,531
(Report for Fiscal Year ending Dec. 31 1906.)
$12,342,600
This
subsidiary of the Consolidation Coal Co. of Maryland
150,000
3,409,780 reports as below:
*
The stockholders on Nov. 28 1906 authorized the Issue of $916,000 serial
bonds under an agreement of lease and conditional sale, dated
6,856,151 Dec.trust
1 1906, with the Fidelity Trust Co., trustee, whereby this company
$21,727,119 $19,852,346 $22,758,531 is to acquire 1,000 modern steel under-frame coal cars of 100.000 lbs.
capacity, 372 of which had been delivered Dec. 31 1906; since that date,
the remainder-have been delivered and are now all in service.
(V. 83, p.
I
drawings and pat¬
$4,477,485
$
Cum.&
Owens Bottle Machine Co., Toledo, Ohio.
(Balance Sheet of Feb. 28 1907.)
Assets—
Patents and
312,048
BALANCE
1905.
1906.
$
1906.
$4,130,589
331,703
$4,165,437
121,703
49,340
39,661
'
Surplus
1903.
$937,693
$18,000
740,500
$1,161,931
$18,000
$18,000
913,235
740,548
708,222
$410,642
$403,383
$2,050,099
YEARS.
CALENDAR.
1905.
1906.
Earnings—Mines, railroad, &e
$165,000 for extraor¬
account.
stockholders
All of the In¬
crease was subscribed by the stockholders, excepting 323 shares, which
have been used for the employees’ profit-sharing plan.
The balance on
stock subscriptions remaining unpaid on Dec. 31 1906 amounted to about
$600,000, which should be fully paid by April 1 1907.
New Works.—Our Ford City works have been practically completed,
extensive Improvements have been made to our Kokomo (Ind.) plant, and
satisfactory progress has been made in the erection of our new Crystal City
These operations substantially account for the increase in invest¬
factory.
ment account; and the increase In that account, the large reduction in bills
payable account and the Increase in working capital that was made neces¬
sary by the continued expansion of our business substantially account for
the application of the amount paid in on the new issue of capital stock.
The improvements for which the proceeds of the new stock were princi¬
pally used were not in full operation until nearly the close of the year, and
the capital going Into the new Crystal City works has been unproductive
and will continue to be so until those works are completed and in operation.
To complete those works and to carry out plans actually in hand for the
Improvement of other plants and the extension of our business, it is esti¬
mated that from $1,250,000 to $1,500,000 will be required during the
present year.
Dividend Increase.—In view of our current earnings and favorable pros¬
pects, your board considers that an Increase in the dividend rate to 7 %
will be warranted, commencing April 1 next (as declared, see V. 84, p.
Profits...
FOR THREE
INCOME ACCO UNT
$708,222 has been charged for depreciation, and about
dinary repairs and betterments was charged to expense
New Stock.—At our last annual meeting (Feb 13 1906) the
authorized the increase of our capital stock to $17,500,000.
697—Ed.), but deems it unwise to make any larger increase.
OPERATIONS AND FISCAL RESULTS.
1906.
1905.
1904.
1904.
in
Co.
(Report for Fiscal Year ending Dec. 31
President John Pitcairn, under date of Feb.
subsidiaries as follows, in tons
and its
and free service,
Pittsburgh Plate Glass
handled by the C. & P. RR.
(an increase of 238,997 tons
& Ohio RR., 3,022,297
430,329 tons; Chesapeake & Ohio Canal, 199,505
Railroad Department.—The coal tonnage
during the year amounted to 3,766,148 tons
To Baltimore
over 1905), distributed as follows:
20 years
$55,927,808
To this must be added
expenditures upon the plant in extension,
betterment and improvement of certainly not less than an average of
$1,000,000 a year; or for 20 years a total of $20,000,000, making in all for
the 20 years $75,927,808; or, adding the similar items for the 10 years end¬
ing Dee. 31 1907, a grand total to the city for the entire 30 years of $100,
959.137.—V. 84. p. 1253, 1112.
Total cash receipts
1305
CHRONICLE.
THE
June i 1907.
Fiscal Year ending Dec. 31 1906.)
of the Consolidation Coal Co. of
Maryland (see above) reports as follows:
(Report for
This controlled company
EARNINGS,
1906.
1905.
$669,384 $499,411
Gross earnings
Op. exp., deprec’n
of plant & taxes
447,594
$221,790
Net earnings.
23,621
MIscel. Income..
_
Total
EXPENSES AND
Interest on
do
CHARGES.
1906.
bonds. $12,203
386,905 Royalties
Sinking fund
$112,506
23,5851
Insurance
Total
loan.
35,129
22,724
20,361
2,321
$92,738
$245,411 $136,091 (Surplus for year.. $52,673
1905.
$17,749
35,854
20,931
17,402
2,318
$94,254
$41,837
GENERAL BALANCE SHEET DEC.
31.
1905.
$
1906.
$
|
1905.
1906.
$
Liabilities—
|Capital stock
3,000,000 3,000,000
real estate
4,330,009 4,323,0081 Funded debt (V.
38,664|
73, p. 786).2,893,000 2,893,000
Sinking fund
63,409
38,664
!Slnk. fd. reserve
63,408
Bonds to retire
6 "o bonds
393,000; Loan from Fair393,000
A ssets—
$
|
Plant, mines and
803,524
Cash
3,389
18,705}
mont Coal Co.
i Pay-rolls, accts.
Bonds
pledged
for loan
& bills payable
2,224,313 2,168,669!
lAcciued interest
Bills & accounts
receivable
24,935
36,497!
on bonds
. .
i Coal companiesMerchandise and
28,919
supplies
9,252
Miscellaneous
Total
—V. 82, p.
712,222
16,728
2,402
3,767
530
534
24,192 ! Miscellaneous.14,361
13,540
246,090
391,303
13,1121 Profit and loss..
.7,077,226 7,015,488
Total
7,077.226 7,015,848!
1155.
Fairmont Coal
Company.
(Report for Fiscal Year ending Dec. 31 1906.)
This subsidiary of the Consolidation Coal Co. of Maryland
(see above) reports as follows:
The stockholders on Sept. 5 1906 authorized the Issue of $1,944,000 serial
dated
Sept. 1 1906, with the Maryland Trust Co., trustee, whereby this company
is to acquire 2,000 modern steel underframe coal cars, of 100,000 lbs.
capacity.
1.200 of these cars have so far been delivered and put in ser¬
car
of lease and conditional sale
trust bonds under an agreement
(Compare V. 84,
vice.
628.)
p.
YEAR EX DING DEC. 31.
EARNINGS, EXPENSES AND CHARGES
1905.
1904.
$4,516,588
3,215,797
$3,518,674
2,871,257
$3,754,152
2,899,948
$1,300,791
$647,417
67,500
253,496
$854,204
1906
Gross earnings
Oper. exp., deprec’n
.
of plant & taxes.
Net earnings
Int. and dlvs. on securities owned
Miscellaneous Income
.
-
174,650
273,874
67.500
264,833
$1,186,537
$968,413
$272,319
$297,691
168,137
169,037
76,524
76,083
%)240,000(3
%)360
,000
%) 540,000(2
25,622
27,300
67,615
25,986
40,396
$1,749,315
Interest
bonds
on
$288,696
192,278
86,900
—
Royalties
Sinking fund
(4
Dividends
Miscellaneous
N.
Depreciation on car equipment
$902,602
$283,935
$836,097
$132,316
$1,215,885
$533,429
Total
Surplus for the year
GENERAL BALANCE SHEET DEC. 31.
1905.
1906.
S
1905.
j
190G.
jSink. fund reserve
447,399
129,180
600,000
$
S
Liabilities—
!Capital stock
12,000.000 12,000,000
Plants, mines, real
0,196,000
6,686,000
estate. <fce
16.972,404 16,927.1551 Funded debt
275,822 Car trust 5% bonds 1,164,000
341,005
rCar equipment...
Assets—
S
utiderlea.se 1,164.000
do
Sink, fund (bonds
447.399
of 1901)
a
Advanced paym’G
on coal purchases
3$$,407
Bonds held to retire
1
Unpaid coupons..
358,8681 Bills payable
|Car trust notes
280,765 Pay-rolls
! Accounts payable.
086,0001 Dividend
6,845 B. *fc O. settlement
196.000
outstand’g bonds
129,ISO
Cash lor coupons..
Cash on hand and
in banks.
1 Accrued bond int.
536,9291 Individuals
174.315
322.000
-
Treasury bonds
—
rceeivj
1 .101,223
$68,311
1 .320,074
Cl’ksb.FuelCo.lnanj
companies
27,000
1,052,347; Profit and loss
665.375
358,868
6.845
700,791
162,810
87,504
114,540
104,937
61.841
240,000
119,965
138,126
421,994
360,000
20,212
d
1,823,487
200,395
30,476
3.470,459
23,298
2,978.897
■
f
181.653!
1
803,5241
319,132 i
1
3CS.99G
Material on hand..
Securities owned.
book value
53 ,083,964
Miscellaneous
5.405
1,036,3341
7.592!
-*6,882,684
23,765,3401
Total
a n
j Miscellaneous
Individ’s and co.’s
for coal sold
Coal&coke on band
Billsitaccts.
26.S82.684 23,765.340
Total
Includes 8369.000 canceled bonds. S53.974 lands acquired and $24,425 cash.
b Includes stocks and bonds having total par value of $7,890,500, viz.:
North¬
western Fuel Co., common, $1,350,000: Northw. Fuel Co., pref., $270,000: Clarks¬
burg Fuel Co.. S2.N79.700 (out of a total issue of S3,000,000): Pittsburgh & Fairmont
Fuel Co.. $1,786,900: Pitts, it Fairin. F. 5% bonds, $609,000; Southern Coal-<fc
a
-
Transp. Co. stock. $500,000; South. C. it Tr. Co. 5% bonds, $400,000; other
$94.900.—V. S4. p. 696, 628.
stocks,
Pittsburgh & Fairmont Fuel Company.
(Report for Fiscal Year ending Dec. 31 1906.)
This subsidiary of the Consolidation Co. of Maryland (see
above)
reports as follows:
OPERATIONS AND FISC, 1L RES l rL TS.
Income—
Gross earnings
Deduct: Op. exp.
1906.
Deductions—
1905.
1905.
1906.
$404,215 $328,965 Interest on bonds. $65,000
10,100
263,261
227,828 Sinking fund
:
4,103
Depredation.
10,100
9,277 Taxes
Insurance
$65 000
"
2~, 281
1.237
12,972
1,211
$91,860 Royalties
14,188
13,959
|
Total
$94,602
Total income ..$146,325 $105,819 Surplus for year.. $51,723
Net earnings...$130,854
MIscell. Income
15,471
BA L ANCE SHEET DEC
1906.
S
A. S3CtS
Mines and real estate 3,390,766
216.622
Plants & equipment.
Advances
on
coal
8,330
purchases
32.500
1.420
22,091
74.174
15,012
1,984
Cash to pay coupons.
Cash in bank
Material on hand
Due for coal sales
Accounts receivable.
Miscellaneous
Total
-V. 82, p.
1905.
*5
$81,490
$24,329
1905.
$
190G.
Liabilities—
$
3,390,766 Capital stock
2 ,250,000 2,250,000
213.950 1st mtge. 5% bonds. 1 ,300,000 1,300.000
32,500
32,500
Coupons
S.049
10,518 Pay-rolls
10,967
7,475
32,500 Accounts payable
4,687
1.484
1,148 Individuals & co’s...
3,024
10,100
16,986 Accrued sinking fund
Miscellaneous
178
1.704
18,522
98,445
12,861 Protit and loss
149,917
881
3,762,899 3,698.132
1155.
to the declaration of trust which were referred to
last week
duly approved at the meeting on May 27.
Transcript” of May 27 said:
The ‘‘Boston
President A. D. Clallln states that the object Immediately In view Is
the consolidation of three street railway companies west of Newton.
In
absorbing these roads the Boston Suburban acquired about $100,000 bonds
and in effecting the reorganization (merger) it wishes to dispose of these
The companies to be consolidated
Hopklnton, the South Middlesex and the Natick &
securities, and possibly some real estate.
the \ Vest boro
Batavia & Rochester Electric Railway.—Right
Withdrawn.—The New York State Railroad Commission on
May 22 annulled its consent to the issue by this company of
a
first mortgage for $3,500,000, on the ground that the
Buffalo
mortgage of the allied Buffalo
& Williamsville Elec. Ry. Co.
outstanding) has not
for a like amount (but only $117,500
been canceled as stipulated.—V. 81, p.
154.
Buffalo Rochester & Pittsburgh Ry.—New Bond Issue—
Further Facts.—The new consolidated mortgage securing
$35,000,000 bonds dated May 1 1907 and due May 1 1957
has been made to the Central Trust Co. of New York, as
trustee.
The bonds are to bear such rate of interest, not
exceeding 4Vi% per annum, as shall be fixed for successive
issues by the board of directors, and are issuable as follows:
Issuable whenever desirable, bearing
Reserved to retire a like amount of
4 14 % interest
$3,000,000
underlying bonds (including
10,350,000
$350,000 Lincoln & Charlotte RR. 5s)
Reserved to pay certain real estate mortgages
Reserved to retire $2,500,000 equipment bonds, series A, B and C
Reserved to retire $1,500,000 construction and equipment 3-year
4 Vi % notes dated Aug. 1 1906 (V. 83, p. 1522)
Reserved to retire equipment bonds, series D, E and F (D dated
1902, authorized $2,000,000, amount
295,000
2,500,000
1,500,000
outstanding reduced to
date to about $1,648,000; E dated 1904,
amount out reduced to about $1.216,000;
authorized $2 000,000
F dated April 1 1907,
3,500,000
authorized, $3,000,000: Issued, not known.—Ed.)
Reserved for extensions, additions, new equipment, &c., but none
to he authenticated or delivered prior to July 1 1908, nor to any
greater extent than $1,500,000 In the year 1908, or In any one
calendar year thereafter unless the Issue of such larger amount
shall first be authorized by a majority In Interest of the stock¬
holders at a meeting duly called
—
13.855,000
The reservation of bonds for the retirmeent of car trusts
discloses the existence of a new issue of car trusts dated
April 1 1907, of which apparently about $700,000 is out¬
standing.—V. 83, p. 1113, 995.
Buffalo & Susquehanna Ry.—New President.—Vice-Presi¬
dent Charles W. Goodyear has been elected President to fill
the vacancy caused by the death of his brother, Frank H.
Goodyear. Assistant General Superintendent Anson C.
Goodyear has been made 1st Vice-President.—V. 84, p. 270.
Buffalo & WilliamsvilleElectric Ry.—See Buffalo Batavia
& Rochester Electric Railway above.—V. 81, p. 154.
Canada Coal & Ry.—Sold.—See Maritime Coal, Railway
& Power Co. below.—V. 80, p. 1110.
Chicago Consolidated Traction Co. — Decision — The
United States Supreme Court on
May 27 denied the
petition of the North and West Chicago Street railroads to
review the judgment of the United Suites Circuit Court of
Appeals for the Seventh Circuit, which dismissed their suits
to recover from the estate of the late Charles T. Yerkes
about $12,000,000 alleged to-have been illegally obtained
in connection with the amalgamation of those roads with the
In the suits it was also sought
Consolidated Traction Co.
to have the amalgamation declared illegal and the various
agreements made in connection therewith set aside. See
also V. 79, p.
2642.—*V. 84,
p.
1181.
Satis¬
Chicago Milwaukee & St. Paul Ry..—Old Mortgage
fied.—The $4,000,000 mortgage dated March 4 1872 and due
on Jan.
1 1902 was satisfied of record on May 25.
The executive offices were recently moved from No. 30
Broad Street to No. 42 Broadway.—V. 84, p. 569, 507.
Chicago Rock Island & Pacific 'Ey .—Bonds Offered.—
Speyer & Co., 24-26 Pine St., New York, are offering by
advertisement on another page, at 87% and interest, at
which the yield is 4J^%, $10,000,000 “first and refunding
mortgage” 4% gold bonds, dated April 1 1904 and due
April 1 1934, but redeemable at option of company at 105
and interest on or prior .to April 1 1911 on sixty days’ pre¬
The proceeds of the sale of the above $10,000,000 bonds will be applied by the company to pay
$7,500,000 notes maturing July 1 next and the balance for
betterments and improvements.
Subscriptions will also be
received in Boston by Messrs. N. W. Harris & Co., in Chi¬
vious notice.
by the Harris Trust & Savings Bank, in
Philadelphia
Bonds of this issue are already
listed on the Stock Exchanges of New York, London, Am¬
sterdam, Frankfort and Berlin, and application will be made
by Messrs. Henry ifc
West.
These
and savings banks
in New York State and are accepted by the Secretary of
the Treasury at Washington as security against deposits
of customs receipts in national banks.
to list the above bonds on the same
bonds are a legal investment for trustees
exchanges.
Letter from President B. L. Wtnchell, dated Chicago, A lag
25 1907
.
These bonds are part of an Issue limited to $163,000,000, of which there
have been Issued (Including: the above $10,000,000 bonds) $66,851,000,viz:
Refunding: purposes
$21,451,0001 Acq. of prop, or secur
Reimburse treasury
15,000,0001 Improvements
10,000,000
Of the remaining: $96,149,000 bonds authorized under the mortgage,
$60,574,000 can only be Issued against underlying bonds, $13,500,000 to
pay for 75% of the purchase price of bonds of other
balance for improvements and acquisitions of other properties or
$20,400,000
INVESTMENT NEWS.
RAILROADS, INCLUDING STREET ROADS.
Boston Suburban Electric Companies.— A mendments Ap¬
proved—Proposed Merger and Rond Issue.— Lho amendments
are
1246.
p.
Abstract of
Total
LXXXIV
Cochltuate, which, taken together, give a through line from the end of the
Worcester Consolidated street Railway Company’s tracks In Westboro to
Newton, whence the Boston Suburban Companies’ cars may be run directly
Into the Park Street station of the subway by the Boston Elevated.—V. 84,
cago
31.
I
3,762,899 3,698.1321
GENERAL
wen1
[VOL.
THE CHRONICLE
1306
&
as
prescribed
fn
companies, and the
securities
the mortgage.
The bonds are a direct obligation of The Chicago Rock Island & Pacific
Railway Co. which was formed in the year 1880, from which time it has
uninterruptedly paid dividends, and since 1899 at not less
than 5% pet
annum.
The “first and refunding mortgage” 4% gold bonds are secured by a first
lien (either directly or through pledge of the entire Issue of first mortgage
bonds) on terminal properties In St. Paul, Minneapolis and St. Louis; new
equipment and shops at Moline, III.; and on railway lines aggregating 1,148
miles, including the line from St. Louis to Kansas City; and are also secured
by a lien (subject to existing mortgages) on all the lines of the railway com¬
pany
aggregating (exclusive of leased lines and
Earnings.—For the fiscal year ended June 30
ending April 30 1907 and 1906.
trackage) 5,659 miles.
1906 and also the 10
months
—10 mos. ended Apr.SO—
1906-07.
1905-06.
Year
$6,623,705 $51,237,858
3,976,626
35.067,059
$16,514,131 $13,867,052
$2,647,079 $16,170,799
Net...
Other Income
Total income
Taxes, Interest,
1905-06.
7,218
Increase.
511.88
7,717.22
7,205.34
$49,759,444 $43,135,739
& taxes. 33,245,313 29,268,687
Average miles operated.
Gross earnings
Operating exp.
rentals and Improvements on
Surplus available for
1307
THE CHRONICLE
June 1 1907. J
leased lines
dividends
1,015,837
$17,186,636
10,400,805
$6,785,831
Exchange.—Speyer
Co. are prepared to accept
on June 3 the 3-year 434% gold notes, due July 1 1907, at
the price of par and accrued interest,- in payment for the
first and refunding mortgage 4% gold bonds at the price of
87 and interest, as stated in above notice.—V. 84, p. 1247,
Notes in
748.
Chicago Terminal Transfer
Co.—New Directors.—At the
annual meeting on May 29 five new directors were elected,
the board now including:
Representing J. P Morgan & Co.: Jesse B. Barton, Fred G. Relghley,
Ralph M. Shaw, W. V. S. Thorne, Silas St raw n, John N. Faithorn, A. H.
Gillard, A. C. Emery, H. X. Layfleld, W. B. Barr, T. M. Butters and F. B.
the last three being new.
Representing the minority shareholders, three new directors: Maclay
Hoyne and Clarence A. Knight, of Chicago, and W. W. Miller, who Is a
member of the New York law firm of Hornblower, Miller & Potter, which
Is acting for the protective committee representing the minority
share¬
holders.
(Compare V. 84, p. 930),
Huntington,
Illinois Iowa & Minnesota Ry.—Postponed.—The annual
meeting at which the merger plan will be considered has been
postponed until June 20. See V. 84, p. 996, 508.
Interborough Rapid Transit Co.—Decision.—Justice Fitz¬
gerald in the Supreme Court in this city on May 25 granted
the application of the Board of Rapid Transit Commissioners
for an injunction restraining the company from delivering
electric current to the New York City Interborough Ry.
for the reason¬
The Court holds the plaintiff Is entitled to an accounting
able value of the current heretofore so furnished; saying that
than are at present necessary wfere constructed to
more ducts
anticipate the probable
extension of the subway system because of the difficulty, If not Impossibil¬
ity, of adding to them after the subway wall was constructed.
The Court
further states: “The use of these ducts for the sale and transmission of
electric current for motor power to other parties, whether owners and
operators of connecting or Intersecting railroads or not, Is a use of public
property contrary to the plain purpose of the Rapid Transit Act and not
reasonably contemplated by the parties to the Instrument of contract and
lease executed thereunder, in no sense a railway use within the rules above
stated, and so far as the company seeks to charge the cost of the generation
and transmission of such electric current against the sum upon which Its
Indebtedness to the municipality shall be computed, manifestly unjust to
the
city.”—V. 84, p. 1182, 1052.
Ithaca Street
H. Flint & Co.
control for a sum
Ry.—Chaiige in Control.—A.
of New York have arranged to purchase
said to be $200,000.—V. 72, p. 988.
Jackson Ann Arbor & Detroit (Electric) Ry.—Merger.—
This company, organized some time ago under the steam
railway laws of Michigan, with capital stock of $1,900,000,
of which $400,000 is 6% cumulative (par $100), has ar¬
ranged to establish a trolley line extending from Jackson,
Mich., to Detroit, and from Wayne to Northville, a total
distance of 90 miles, and for that purpose has acquired the
Detroit Plymouth & Northville Ry. (V. 76, p. 971), now in
aside the sale of the Terminal Co. first
bonds to the Baltimore & Ohio RR. Co., it is
stated, will be started in the United States Court in a few
days.—V. 84, p. 1182, 930.
Delaware & Hudson Co.—Equipment Bonds Offered.— operation from Wayne to Plymouth, and Northville, 15
Kuhn, Loeb & Co. and the First National Bank, both of miles, and also the Jackson & Ann Arbor Railway (V. 81,
New York, are offering by advertisement on another page
Si.lich., 20 miles. The line to Detroit is under construction.
at 95%, at which the yield to the investor is about 5%, the
The new company has authorized an issue of $1,500,000
unsold portion of the issue of 810,000,000 “first lien equip¬
bonds,
$1,000,000 of which will be used to complete the line
ment 434% 15-year gold bonds,” dated July 1 1907.
Due into Detroit
and for other purposes, and $500,000 will re¬
July 1 1922. Interest payable Jan. 1 and July 1. Coupon
the
main
in
treasury.
The $150,000 first 6s of the D. P. &N.,
bonds in denomination of $1,000 each, with privilege of
it is said, will later on be retired.
Officers: Chas. W. Os¬
registration of principal. Principal and interest payable in
Nassau St., New York,
borne,
President;
W.
A.
Boland,
31
gold, without deduction for any taxes which the company
Reported
Sale.—It
is
reported
that
the Detroit United
may be required to pay thereon or retain therefrom under
has purchased the “Boland line” between Jackson and De¬
any present or future law.
The advertisement says:
troit.
Mr. Boland, being absent from his office, 31 Nassau
To be secured by a first lien upon equipment certified to cost In excess
St., no definite information could be obtained.—V. 77, p. 36.
of $11,000,000.
The indenture will contain provisions for the proper main¬
tenance of tlie equipment and for the payment to the trustee of an annual
Low Fare Ry., Cleveland.—Unfavorable Decision.—Judge
sinking fund of $650,000 in cash for the purchase and cancellation of bonds
of this issue or the ourchase of additional equipment to become subject
Phillips in the Common Pleas Court on May 22 held that
to the Indenture as additional security for the bonds, or for the purchase of
the ordinance of April 27 last granting the company a fran¬
bonds legal for Investment by insurance companies in the State of New
chise over the Central and Quincy avenues, S. E. route,
The
suit to sot
mortgage
1044), already built from Grass Lake, Mich., to Dexter,
,
York, which bonds, are to be held as further security under the trust Inden¬
Such bonds so accumulated may be subsequently sold and the
ture.
recently abandoned by the Cleveland
Electric Ry., is invalid,
of
proceeds applied to the purchase and cancellation of bonds of this Issue, or because of failure to
procure the consent of a majority
to the purchase of new equipment to become subject to the lien of the
bonds.
We are advised by counsel that these bonds, when Issued, will be
foot frontage before the franchise was granted
a legal Investment for Insurance companies In the State of New
York. Council. An appeal has been taken to the Circuit Court.
Payment for bonds purchased is to be made on July 1 1907 against delivery •
The company sought to avail Itself of consents given to the Forest City
of Interim certificates of the trustee.—V. 84, p. 1247, 1182.
Ry.. under which the City Council gave the latter a franchise over the same
Detroit United Ry.—Reported Purchase.—See Jackson
route In Sept. 1906, but the court held that every franchise requires separate
consents.
The Cleveland Electric Ry., It Is stated, holds between 80 and
Ann Arbor & Detroit Ry. below.—V. 84, p. 1052, 450.
90% of the consents In the avenues named applying for a six years’ period.
Interests friendly to that company express serious doubt whether any
Easton & South Bethlehem Transit Co.—Guaranteed other company can obtain valid consents until the expiration of that time.
Bonds Offered.-—Edward B. Smith & Co.,
Street car service has not yet been restored.
by the City
Philadelphia and
offering at
par and interest the first mortgage 5% bonds,
guar¬
anteed principal and interest by endorsement on each by
New
York, and Bioren & Co., Philadelphia, are
the Easton Consolidated
Electric Co.
1936, but subject to call after July 1
Principal due July 1
1911 at company’s
option at 105 and int. The mortgage is limited to
present issue $400,000.
(Compare V. S3, p. 323.)
$500,000;
A circu¬
lar says:
These bonds are secured by an absolute first mortgage on 12®f miles of
road extending from Easton to South Bethlehem; also by a perpetual track¬
contract with the Easton Transit Co., giving the right In perpetuity to
cars over the Transit Company’s tracks Into Centre Square, Easton.
In South Bethlehem the terminus of the line Is directly opposite the Union
Station.
The entire capital stock of the Easton & South Bethlehem
Transit Co. is owned by the Easton Consolidated Co., which guarantees the
age
run
,
principal and Interest of these
bonds.—V. 83, p. 323.
Havana Central RR.—Notice to
Holders of Stock and Bonds.
to the advertisement dated April 30 1907,
holders of bonds and shares of the Havana Central Railway
Co. are reminded that the offer on behalf of the United
—Referring
Railways of the Havana & Regia Warehouses, Ltd., to
receive such bonds and shares for exchange, expires at 4 p.m.
May 31. The advertisement (see another page) says:
“Large amounts have already been deposited in London,
New York, Montreal and Havana whereby the success of
the plan is assured.”
Compare V. 84, p. 1052,
Hoboken Manufacturers’ RR.—Mortgage.—This company
recently made a mortgage for $400,000 due in 20 years to the
The “Cleveland Leader” of May 11 contained as adver¬
tisements the franchise ordinances.
“Cleveland Finance”
of May 11 said:
On Monday night of this week the City Council, acting under orders of
Mayor Johnson, passed ordinances alleging to grant the Low’ Fare Co.
franchises for certain streets now' occupied by the Cleveland Electric Rail¬
way.
These comprise Woodland Av. and Kinsman Road routes, Detroit
Av., Lorain Av., Bridge Av., West 65th St., Clark Av.. West 73d St.,
Madison Av., West 98th St., Woodbine Av. and John Av.
The object was not to grant any right to the Low Fare Company, for the
Council has not that right under a decision of the United States Supreme
Court.
These ordinances were passed simply to create the Impression In
the minds of the people that the Low Fare Company had secured some valu¬
able franchises and thereby assist In selling three-cent stock to the Ignorant,
unthinking poor people of Cleveland.
In the Central Av. case in the United
States Court (V. 84, p. 101), w'herein the ordinance granted to the Forest
City RR. was attacked, Judge Tayler held that a City Council could grant
to an existing company a renewal of its franchise, but where a company was
operating under a franchise the City Council could not grant to another
company a franchise covering the same streets until the original franchise
had expired.—V. 84, p. 1114, 102.
Louisville (Ky.) Railway Co.—Note Issue.—The company
issue of $500,000 6% notes (secured by bonds)
redeemable at any time from 1908 to 1910.
The proceeds
will be used in purchasing new rolling stock and extending
the suburban line to Bardstown.
It is said that $300,000
of the notes have been placed and that, the remainder will
not be sold until the money is needed.—V. 84, p. 567, 450.
announces an
Manhattan Ry., New York.—Decision in Tax Case
Affirmed.—The Appellate Division of the Supreme Court in
this City on May 24 handed down a decision unanimously
affirming the report of Hamilton Odell as referee in the suit
Hoboken Land <fc Improvement Co., covering, it is said,
brought by the city to collect taxes due on the Ninth Avenue
besides the proposed road and other property, about 500 line under the law
requiring the company to pay a percent¬
city lots along the western line of Hoboken.
There was no dispute as to the
age of the net income.
The company will build a line of railroad through the manufacturing
validity
of
the
law,
but
merely
as to the items to be deducted
district of Hoboken, N. J., from 14th St., skirting the base of the hill,
from the gross earnings in arriving at the net earnings.
The
through the westerly portion of Hoboken to the Erie RR. main line in Jersey
referee found that for the yeais 1880 to 1902 the city was
City.
A lease was taken June 19 1906 of the steam and electric line of the
Hoboken Railroad Warehouse (c Steamship Connecting Co., which ex¬
entitled to $176,810, and for 1903, 1904 and half of 1905,
tends from 5th St.. Hoboken, to Weehawken, 2.06 miles, connecting the
biers of the steamship lines and warehouses In Hoboken and Weehawken.
$94,294, bringing the judgment now affirmed, including in¬
This last-named company has outstanding $300,000 stock (on which a
terest and costs, up to $275,538.
Compare V. 77, p. 2159.—
dividend of 1
% was paid In 1906) and $196,000 bonds.
V. 84, p. 271.
The new company is controlled by or In the same Interest as the Hoboken
Land & Improvement Co. and Its authorized capitalization consists of
Maritime Coal, Railway & Power Oo.—Purchase.—The
$400,000 stock and $400,000 mortgage bonds.
The officers are R. M.
Dickinson, Pres.; Charles F. McGuire, 911 Castle Point Terrace, Hoboken;
“Monetary
Times” of Toronto on May 25 said:
Vlce-Pres.* H. E. S. Wilson, 60 8th St., Hoboken, Sec.,and PalmerCampAn officer of the new company Is reported to
operation next fall. It will connect
with the Pennsylvania, New York Central, Reading, Baltimore & Ohio,
Erie, Lackawanna, Jersey Central, Lehigh Valley and West Shore roads.
bell, Treaa. and Gen. Mgr.
have stated that the road will be In
are Interested In the deal by which the Maritime Coal Rail¬
& Power Co., Limited, comes Into possession of the entire property of
the Canada Coal & Railway Co.
The property Includes 17 square miles of
coal-bearing land and 12 miles of railway, fully equipped with rolling stock.
Montrealers
way
William Hanson signed on
behalf of the vendors
andJHon. Senator Mitchell
was
New Orleans Railway & Light Co.—Reduction in Net Price
of Gas to SI 15.—The following notice was given May 21:
The New Orleans Gas Light Co. announces a reduction in the net price
of gas of five cents per 1,000 cubic feet on all gas consumed after the June
reading. For payment at the office on or before the 10th of the succeeding
month the discount will be 25c. Instead of 20c. per 1,000 cubic feet, as here¬
tofore, making the net price of gas In New Orleans $115 per 1,000.—V. 84,
996, 868.
New York Auburn & Lansing Electric RR.—Bonus with
Bonds.—Andrew L. Bush, Springfield, Mass., recently offered
$50,000 of the first mortgage 5% gold bonds of this partly
built third-rail electric road at par and interest with a bonus
-of 25% of stock.
The company has a steam railroad franchise, but will operate with the
third-rail electric system.
Of the 35 miles of main line between Ithaca
and Auburn, 26 miles, we are Informed, will be In operation by steam power
within a week and the remainder Is expected to be completed by Sept. 1,
along with 5 miles of sidings.
Capital stock will be $1,000,000. Author¬
ized bond Issue, $1,000,000, of which $600,000 Is outstanding and the re¬
mainder Issuable at $25,000 per mile.
A. H. Flint, 15 Broad Street, Is Presi¬
Compare V. 83, p. 156.
New York Central &
First Electric Car Between
dent.
recently approved by the
Massachusetts Railroad Com¬
Electric
mission.
At or about the same time the Pittsfield
Co. (V. 77, p. 454, 1297) made a mortgage
the same trustee.—V. 84, p. 868.
purchasers.
(The purchaser, formerly known as the Maritime Coal
Co., operates for freight only 3 miles of railroad extending from
Chlgnecto, N. S., on the Intercolonial Ry., to Maccan Junction on the line
of the Canada Coal & Railway Co. (Compare V. 81, p. 1178; V. 82, p. 928.)
for the
& Ry.
p.
[VOL. LXXXIV.
THE CHRONICLE.
1308
for $150,000 to
Light & Power Co., Mexico.—Sold.—
& Power Co. under “Industrials” below.
Pueblo Tramway,
See Mexican Light
—V. 83, p. 626.
Reading Company.—New Equipment
Eany
eries has
E” tofiled
E. T.
at Stotesbury
Philadelphia
of
Trust.—The com-
“Car Equipment Lease,
the firm of Drexel & Co.,
covering new equipment in order to secure $5,000,000 4^% car equipment
certificates. The Philadelphia
‘‘Ledger” understands that the issue has been underwritten
by Drexel & Co., but on the other hand it is stated that none
of the issue will be put out at present.—V. 84, p. 932, 571.
San Pedro Los Angeles & Salt Lake RR.—Agreement Can¬
celed.—R. S. Lovett, General Counsel of the Southern Pacific
Co., has informed the Inter-State Commerce Commission
.that a traffic agreement between his company and the San
Pedro road, which was made public by the Inter-State
Commerce Commission hearings at Los Angeles some months
as
trustee,
Hudson River RR.—Company's ago, was canceled on April 15 1907 because of the enactment
Utica and Syracuse.—A trial trip by the California Legislature of a law to prohibit contracts
over the third-rail electric line of the West Shore RR. and
in restraint of competition.
allied trolleys between Utica and Syracuse was made on
This traffic agreement, which was to run for 99 years, was put In force,
Its two most Important provisions were: (1) A covenant
June 18 1903.
May 23 and regular electric service is about to begin.
of the San Pedro company to put In force the tariffs of the Southern Pacific;
Terminal Contract Canceled.—The contract
with the and (2) that no change shall be made In rates by either company without
O’Rourke Engineering & Construction Co. for the excavation the consent of the other party.
Another contract which was to have run for 99 years and which Is reported
and construction of the Grand Central Terminal has been also to have been canceled on April 15 was between the Oregon Short Line
canceled, because, as stated, the railroad company found it (Union Pacific) and the San Pedro company, and contains the following pro¬
vision: Said San Pedro company hereby covenants that it will not hereafter
impossible to allow the work to proceed as fast as was de¬ during the term of Its agreement extend Its main line of railroad or any of
sired by the Construction Company, which was losing money Its branch lines nor construct or build any lines of railroad, nor assist or
In the building or construction of any other railroad northward from
A director of the advise
because its men were not fully employed.
Salt Lake City, nor which may run into the territory northward of the
O’Rourke company is quoted as follows:
parallel of Salt Lake City, Utah.—V. 84, p. 694.
We have entered Into an amicable arrangement by which we withdraw
Springfield Wilmington & Cincinnati (Electric) Railway.
from the work and the New York Central undertakes to complete It.
We
—Successor
Company.—This company, which recently
have sold our plant to the New York Central, and payment for It and for
the work already done, under a compromise, has already been made.
Our filed a mortgage to the Knickerbocker Trust Co. of New
total contract calls for an expenditure by the Central of .something between
York as trustee, to secure an issue of $4,000,000 5% bonds
$7,000,000 and $8,000,000, and about $3,000,000 of this work has been
done.
Our plant with which this work was being carried on represented
(V. 84, p. 1249), we are informed, has taken over the old
Investment of about
$400,000.—V. 84, p. 1248, 1052.
Springfield & Xenia Ry. recently sold at receiver’s sale
(V. 83, p. 214) and proposes to extend the line now run¬
Appellate Division of the Supreme Court, First Department/ ning from Springfield to Xenia, 20 miles, to Wilmington and
on May 24, by a divided vote in the case of one Kelly, re¬
Cincinnati, giving it a total length of 160 miles.
While no
versing the lower court, upheld the right of the company to reorganization plan has been issued, the old company’s
refuse to give transfers except when presented for a con¬
security holders, it is stated, will receive in exchange for their
tinuous trip in the same general direction in which the pas¬ holdings about an equal amount of the securities of the new
senger started.
Compare V. 84, p. 391.
corporation.
The plaintiff took a south bound car on Third Avenue, transferred to
Stock.—The company in February last filed a certificate of
Chambers Street and desired to board a northbound car on Greenwich Street
increase of capital stock from $3,000,000 to $4,000,000.—
but was refused a transfer.
The court says; “Under the scheme of trans¬
an
City Ry.—Favorable Transfer
Decision.—The
fers provided, a person desiring to make a continuous
entirely practical and efficient means of reaching any
a single fare.”—V. 84, p. 694, 391.
trip Is provided an
part of the city for
New York
New
York
New
Haven &
Hartford RR.—New Stock
Merger.—Notice has been given to the New York Stock Ex¬
change of the increase in the authorized, capital stock from
*$100,000,000 to $130,000,000 preparatory to tin; merging
Consolidated Railway Co. and
Co. as authorized by the
in the parent company of the
the New England Navigation
.their meeting yes¬
terday. The Consolidated Railway Co. recently purchased
the property of the Navigation Company.
(Compare V. 84,
shareholders of the first named company at
capital of the Con¬
H RR.
immediate
p. 1052, 1114, 1242.)
The entire share
solidated Railway Co. is owned by the N. Y. N. H. &
and the merger, therefore, does not involve any
issue of the afoiesaid new stock.
The steamship
depart¬
operated under title of New England Steam¬
ship Co., incorporated in Connecticut on May 27 with
$250,000 capital stock and E. C. Vanderbilt as President.
A press report from New Haven says:
ment will be
The Consolidated Railway Co. recently took over the New England
Navigation Co. at a valuation of $20,000,000, or exactly the price which
C. VV. Morse some time ago offered for the property.
Against this,$20,000,000 of Consolidated Railway Co. stock was created, which added to the
previous outstanding $10,000,000, makes $30,000,000 of stock .which In the
merger now Is represented by the$30,000,000 of stock,share forshare, of
the steam corporation. This $30,000,000 of stock, while legally outstanding,
Is held In the New York. New Haven & Hartford R.R. treasury for any
legal use whatever.
Compare V. 84, p. 1242, 111'4.
Pacific Railway & Navigation Co.—New Enterprise—
Purchase.—This company, mentioned below under heading
of United Railways of Portland, Ore., was incorporated in
Oregon in Oct. 1905 with $2,000,000 authorized stock, to
road, including a line from Hills¬
boro, Ore., on the Southern Pacific to the Pacific Coast,
and branch lines to Astoria, Nehalem and Seappoose
The
company, it is reported, made in Feb..last a mortgage to the
Union Trust Co. of San Francisco as trustee to secure
$4,000,000 bonds.
build about 200 miles of
The franchises and old grade of the Portland Nehalem & Tillamook have
been acquired.
The grade was reported as completed some
from Hillsboro to Banks, 7 miles, with grading In progress from Banks to
time since
to Summit. 27
Banks to Tilla¬
President, E. E. Lytle, formerly President
C. E. Lytle. General Manager; May Enright,
C. VV. Wanzer, C.E., all of Portland. Ore.
Buxton, 13 miles.
Surveys, It is stated, were completed
line was under survey from
miles from Hillsboro, and the
mook and Veronla, 80 miles.
of the Columbia Southern Ity.;
Secretary; and
Passenger Fares.—Illinois Two-Cent-Farg Bill Svjncd.—;
Dineen of Illinois on May 27 signed the tvvo-cent
Gov.
See V. 84, p. 1248, 932.
Pittsfield (Mass.) Electric Street Ry.—New Bonds —The
company has filed a mortgage to the Berkshire Loan & Trust
Co. of Pittsfield, Mass., as trustee, to secure the issue of
$100,000 bonds (said to be 4 per cents due July 1 1923), the
issuance of which for additions and payment of floating debt
passenger
fare bill.
V. 84, p.
1249.
Springfield & Xenia (Electric) Ry.—Successor Company.—
See Springfield Wilmington & Cincinnati Ry. above.—V. 83,
p. 214.
Tampa & Jacksonville Ry.-—Negv Bond Issue—Further
Facts.—The new first consolidated mortgage is made to the
Standard Trust Co. of New York, as trustee, and secures
$5,000,000 5% gold bonds of $1,000 each, dated April 1
1907 and due in 30 years, but subject to prior redemption
at 105.
Interest payable Oct. 1 and April 1 at office of
trustee.
Sinking fund 2% after 10 years. Of the authorized
issue, $150,000 is reserved to retire at or before maturity a
like amount of 6% bonds of the former Gainesville & Gulf
Ry., due in 1929. Interests allied with the Southern Rail¬
President, S. F. Parrott, Macon, Ga.;
way Co. own control.
Secretary, F. M. Simonton, Tampa, Fla.; Treasurer, H. E.
Taylor, Gainesville, Fla.—V. 84, p. 1053, 804.
Toledo (O.) Railway & Terminal.—Sold.—At the fore¬
closure sale on May 28 the property was bid in by Andrew J.
Sullivan, Chairman of the bondholders’ committee, the only
bidder, at the upset price of $2,000,000.—V. 84, p. 1249, 997.
United Railways, Portland, Ore.—Change in Control.—A
majority of the capital stock of this projected enterprise, it
is’announced, has been acquired by E. E. Lytle, President of
the Pacific Railway & Navigation. Co., which see above.
The “Portland Oregonian” says:
(Issues of May 19 and 21 1907).—The chief object In acquiring the prop¬
erty seems to be to afford an entrance into the city from Hillsboro for the
Pacific Railway & Navigation Co., which Is now building a line Into Tilla¬
mook Countv from Hillsboro.
The last-named plans are to complete the
road from Hillsboro to Tillamook by Oct. 1908, and Mr. Lytle expects to
have the United Railways line to Hillsboro (a distance of about 26 miles)
completed and In full operation by the time the Pacific Railway & Naviga¬
tion Co. delivers freight In Hillsboro.
The freight will be carried by way
Frontfand
(Dec. 6 1906).—The United company has only about 2H miles of track,
which is practically Its sole asset, a debt of $450,000 bonds and some
$120,000 other claims, and a stock Issue of $3,000,000, for which little or
nothing was paid in.
The promoters Invested $100,000 in the Chamber
of Commerce Building and $15,000 in a piece of water-front land, ostensibly
making these properties assets of the company, while In fact they were kept
of the Peitygrove &
the terminal yards.
12th Street line and down
Irving Street to
563.
Virginian Railway Oo.—Mortgage.—The company has
filed its $35,000,000 mortgage to the Central Trust Co. of
New York, as trustee.—V. 84, p. 1249, 1184.
Wabash RR.—Favorable Decision.—The United States
Supreme Court on May 27 dismissed the application of James
Pollitz for a mandamus to compel Judge Lacombe of the
United States Circuit Court in this city to remand to the
State courts the suit brought to restrain the company from
issuing bonds under its new first refunding and extensions
in separate ownerships.—V. 83. p. 891,
mortgage.
1053.
Compare V. 83, p.1525,
1349; V. 84, p.
1115,
June 1
1907.]
Washington Railway & Power Co. of Vancouver, Wash.—
company on May 21 filed at Olympia,
Wash., a certificate of increase of capital stock from $150,000
to $500,000.
New Stock.—The
INDUSTRIAL, GAS AND MISCELLANEOUS.
e
American Bakery Co., St. Louis, Mo.—Consolidation.—
Bond Issue.—This Missouri corporation on March 1 took over
the property and business of seven of the leading bread-bak¬
ing establishments of St. Louis. The officers are: Adolph
Boettler, President; John B. Heydt, First Vice-President;
Hoerr, Second Vice-President; John Bohenkamp, Secre¬
tary; Fred S. Freund, Treasurer.
John
The ‘'St. Louis Globe-Democrat” of Jan. 23 said:
The bakeries going in and which have signed the agreement are: WelleBoettler Bakery Co., Freund Bros.’ Bread Co., Hauck & Hoerr Bakery Co.,
Home Bakery Co., St. Louis Bakery Co., Heydt Bakery Co. and A. A.
Gondon Bread Co.
The total capitalization of the American Bakery Co., to which the seven
concerns sell outright, will be $4,000,000, divided as follows: $1,000,000
6 % gold bonds, of which $775,000 will be issued and sold or given in payment
for the plants; $1,000,000 In 7 % preferred stock, of which $755,000 will be
immediately, the balance to remain in the treasury; $2,000,000
stock, a controlling Interest in which remains with the bakers,
and the balance to be given as a bonus with the bonds.
Of the bonds, $425,000 have been underwritten at 95 by the MissourlLlncoln Trust Co., which takes $225,000, and John E. Beggs, a distiller
of Terre Haute, Ind., and associates, who take $200,000.
The cash re¬
ceived from these bonds goes to the owners of the seven concerns, who also
receive the balance of the bonds Issued in payment for their stock.
The
bondholders get $500 common stock with each $1,000 bond.
The preferred
stock goes to the bakery owners.
The company expects to pay 6% on the common stock from the start.
This is based on estimates of the earnings of the several concerns for several
Issued
common
at $1,746,000.
$276,000 (net)
protits In the last three years, the estimated profits with existing competitive
methods eliminated does not seem exaggerated.
As security for the bonds,
the promoters estimate the fixed and quick assets of the company In the way
of real estate and buildings at $1,123,000.
]The bonds, of which $775,000 are outstanding, are dated Mar. 1 1907
and are due Mar. 1 1927, without option of earlier redemption; Interest rate
6% per annum, payable Mar. 1 and Sept. 1 at office of trustee, MlssouriLlncoln Trust Co., St. Louis; denominations $100, $500 and $1,000; annual
sinking fund 3% of face of all bonds outstanding after 1910; no prior liens
remain outstanding.
The remaining $225,000 first mortgage bonds may
be Issued for extensions If deemed necessary by nine of the eleven directors.
Of the $2,000,000 common stock $1,875,000 is outstanding.
The pre¬
ferred stock ($1,000,000 authorized) Is
7% cumulative; amount out¬
standing $755,000; par of all shares $100.
The company was incorporated
in Missouri on Feb. 14 1907.
The bakeries purchased are correctly named
in the foregoing quotation.—Ed. “Chronicle.”]
years past.
The sales last year of all of them are placed
In view of a statement that one of the concerns alone made
Black Diamond Anthracite Coal Co.—Colliery
Sold.—This
company, after spending a considerable sum in the develop¬
ment of its property, lias sold its colliery in Branch Township
Pennsylvania to Cornelius E . Parker, of Boston, for a sum
stated as $34,500.
T. V". Powderly is President.—V. 81, p.
213; V. 75, p. 137.
Cabin Creek Consolidated Coal Co.—Merger.—This com¬
pany, organized under the laws of Ohio in February last
with $1,500,000 capital stock, by Cincinnati men, has, it is
stated, taken over the various coal properties located on
Cabin Creek,
Kanawha County, W. Va., which were
recently reported as purchased for about $3,000,000.
Bond issue, if any, not made public.
The “Engineering and
Mining Journal” of April 13 said:
The companies merged In the new company are the Cabin Creek, Raccoon
Fork, United Colliery, Shamrock. Thistle Coal, M. T. Davis Coal, Holley
Coal, Quarrler Coal, Belleclare Coal, Red Warrior, Cherokee Coal, Cale¬
donia Coal & Coke, Stevens Coal, and a new lease from the Shonk-Garrlson
Coal Co. of 3,700 acres, as well as the river tipple of the Stevens Coal Co.
at the mouth of Cabin Creek.
The deal embraces about 20,000 acres on
Cabin Creek.
Officers:
President. M. T. Davis; Vice-President. James Kay; Treasurer,
W. M. Packett; Secretary, S. P. Richmond;
Directors, M. T. Davis,
James Kay, W. A.
Malcolm Jackson.
Ohlcy, Azcl Ford, W. M. Puckett, E. W. Knight and
Co.—Renewal of Notes.—The 6%
aggregating about $2,700,000 in
amount, aiid held by various banks in Philadelphia, New
York and Canada, have been renewed for one year without
commission.
The notes are secured by Lake Superior Co.
first mortgage and collateral 5% bonds.
Canadian Improvement
notes
of
this
company,
Co. provided the balance of the cash require¬
reorganization plan of the Consolidated Lake Superior Co. (now
the Lake Superior Corporation) above the amount received from all other
sources.
It secured from the Province of Ontario, Canada, a guaranty of
Its $2,000,000 of 2-year 5 % notes, of which $1,000,000 was paid off May 1 1006
and the remainder extended to Oct. 1 1907.
These notes (V. 82, p. 1044;
V. 83, p. 1101; V. 84, p. 870) are known as the “Government loan ’
and are entirely distinct from the notes Just renewed.
As to Canadian
Improvement Co.,see also items under caption of Consolidated Lake Su¬
perior Co , V. 78. p. 1784, 1551; V. 77, p. 771.
The Canadian Improvement
ments of the
Central Oil Co., Boston.—Option to Subscribe to Preferred
Stock.—The holders of $1,501,250 (common) stock were
offered the right to subscribe at par ($25 per share) less a
5%, until and including May 20, for $250,000
7% cumulative preferred stock to the extent of one share
for every six shares of their respective holdings as shown on
the company’s books.
Treasurer James Milne, Devonshire
Building, Boston, under date of May 3, says in substance:
commission of
At the stockholders’ meeting held April 22 1907 It was voted that the
$498,500 of unissued capital stock, consisting of 19,950 shares of $25 each,
be made a 7 % cumulative preferred stock.
The common stock consists of
the $1,501,250 stock heretofore issued.
The directors accordingly offer
$250,000 of said pref. stock to the stockholders proportionately at par. The
privilege of subscribing will expire May 20 1907. Subscriptions will be
payable 50% June 1 1907 and 50% Aug. 1 1907, at the State Street Trust
Co., Boston.
A commission of 5 % on the subscription price will be paid
to each subscriber concurrently with his payment of the second Installment
of 50 %.
Payments may be anticipated, If desired, with the allowance of a
discount of 6% per annum.
The proceeds will be used for working capital and to retire the bonds
already sold.
A new product of the relinlng plant is meeting with great
favor as a substitute for turpentine and the rapidly Increasing demand
therefor (turpentine becoming more expensive) makes it desirable to push
sales and provide for liberal stores of crude meterlal.
The additions to the
refinery will be completed In the next sixty days, thereby doubling the
capacity of the plant and providing for an output of 1,000 barrels of finished
....
products per day.
1309
THE CHRONICLE
RiOfits o/ Preferred Shares (from the Form of Stock Certificate).
The preferred stock is entitled out of net profits, In preference to any
dividends on the common stock, to dividends at the rate of 7 % per annum,
payable semi-annually. To such extent as the dividends may not be earned
and paid In any given year they will accumulate and become payable out Of
the earliest net profits thereafter available for dividends.
In liquidation
the preferred stock will have a prior claim to payment, but all capital and
assets distributable In excess of the par value thereof and any dividends
accrued and remaining unpaid will belong wholly to the common stock.
All rights from time to time arising to subscribe for capital stock or securi¬
ties are to be accorded to the common stock alone.
The holders of the
common
and
preferred stock have like voting power, i.e., one vote for each
may, at the
stock.
The
right Is reserved to redeem the preferred stock. In whole or In part, by pay¬
ing par and 10% premium, together with any accrued and unpaid divi¬
share held, of whichever class.
Any of the preferred stock
holder’s option be converted Into an equal amount of common
dends.—V. 83, p. 1413.
Consolidated Gas Co. of New York.—Suits by City.—
Corporation Counsel Ellison has begun actions in the New
York Supreme Court to test the validity of the franchises of
the company and its various controlled properties.
The
hearing on the application of Attorney-General Jackson for
leave to bring suit to annul the company’s charter has been
adjourned to Monday next. Arthur H. Masten, special
master in the suit pending in the United States Circuit Court,
has granted the attorneys time until Monday next to suggest
changes and file exceptions to his report. Compare V. 84,
p. 1250, 1055.
Decatur (Ala.) Land Co.—Tenders Asked for Sale of Pre¬
ferred Shares.—In accordance with the provisions of the
charter, the board of directors has determined to devote
such sum as may be available for the purpose to the purchase
of the preferred stock at the lowest price offered; such stock
to be retired and canceled.
Holders are requested to sub¬
mit tenders to President Harry L. Falk, 50 Beaver St., New
York City.
Forms will be furnished on application to the
Secretary, L. P. Troup, New Decatur, Ala. ~ Tenders will all
be opened at 3 p. m., July 5 1907.—V. 77, p. 402.
Dilworth Coal Co., Pittsburgh.—New Trustee.—The Guar¬
antee Title & Trust Co. of Pittsburgh was recently appointed
to succeed the Equitable Trust Co. of Pittsburgh as trustee,
under the first mortgage dated Jan. 1 1902, securing an
issue of 5% gold bonds amounting to $300,000.
A second
mortgage has been filed securing an issue of $300,000 0%
gold bonds dated April 1 1907, “needed for extensions and
purchase of property,” but none of this issue has been sold.
The company, which mines and ships coal, was Incorporated In 1901 with
$-100,000 capital stock ($385,550 now outstanding—par $50) and acquired
some 780 acres of coal lands near Rice’s Landing, on the Monongahela River
In the Fifth pool.
The first mortgage bonds are due In 1922, but arc sub¬
ject to call at 110, Interest payable July 1 and Jan. 1 at office of trustee;
denomination $1,000.
President. H. P.
Dilworth; Treas., R. M. Mac¬
kenzie, Pittsburgh.
Esmond Mills, Enfield, R. I.—Bonds Offered.—Hunt, Mann
& Saltonstall, 00 State St., Boston, are offering at par and
interest the outstanding $250,000 1st mortgage 0% sinking
fund gold bonds due March 1 1927, but subject to call for
the sinking fund on any interest date at 105 and interest.
Authorized Issue $500,000, of which $2.50,000 reserved for additions and
Improvements.
Interest payable March 1 and Sept. 1 at the Rhode Island
Hospital Trust Co., Providence, R. I., trustee.
A New Jersey corporation
with $500,000 outstanding capital stock, engaged in the manufactore of
hlghest-grade cotton fabrics, principally blankets.
“The bonded debt Is
now 55.55 % of the cost of tangible property and can never exceed 61.11 %.
exclusive of the value of patents.”
Clarence Whitman is President.
Federal Mining & Smelting Oo., New
official statement of earnings for
An
York.—Earnings.—
the quarter ended
May 31, partly estimated, shows net profits of $729,000, of
which $510,000 was used for dividends, leaving $219,000 to
be added to surplus account.—V. 83, p. 1349.
Great Eastern Telephone Co., New York City.—Decision.
—The Court of Appeals on May 28 handed down a decision,
affirming those of the lower courts, denying the application
of the New York Electric Lines Co. a mandamus compelling
the Commissioner of Water, Gas & Electricity to issue a
permit to it Jo build subways or conduits under certain
streets of the city.
Judge Chase wrote the prevailing opinion.
the New York Electric lines, Is quoted
the decision sustains the lower court In holding that the
York Electric Lines Co. has not lapsed and that
right to build conduits la decided to have been lost, that to
string wires remains.
The decision. It Is claimed, Is based largely on the
ground that the Court holds that accommodation can be furnished by the
Compare V. 83, p. 1173, 496.
Empire City Subway.
Alton
ns
B. Parker, counsel for
saying
charter of
while the
that
the
New
International Match Co.—Further Facts.—This company,
mentioned last week, it appears was one of those fathered
by the late Frank K. Hippie of Philadelphia, who, it is said,
pledged 40,000 shares of the stock to secure an alleged loan
of $05,000.
(Compare Pennsylvania Sugar Refining Co.
V. 83, p. '497.)
International Mercantile Marine Co.—Statement to New
York Stock
Exchange—Voting Trust—Rights of Stock—
Securities Pledged.—The New York Stock Exchange April 24
listed this company’s stock and bonds, the latter bear¬
ing 4J^% (not 4% interest).—Compare V. 84, p. 999.
statement to the Exchange affords the following:
The
Votina Trust.—All the authorized capital stock, consisting of $60,000,000
common and preferred, was Issued, and the certificates, with the
exception of 110 shares of common (directors’ shares), were deposited with
the voting trustees under the Voting Trust Agreement of Oct. 28 1902,
to be held until
Oct. 1 1907 unless a majority of the voting trustees. In
their discretion, make an earlier delivery upon not less than sixty days’
notice. The company has acquired and there Is now In Its treasury preferred
stock trust certificates of $8,269,029 par value and common stock trust
certificates aggregating $10,067,265 par value.
The voting trustees are
entitled to vote all the shares of stock for every purpose, and to consent
to any corporate act, but shall not vote said stock to authorize any addi¬
tional mortgage or other lien, or to authorize any Increase In the amount of
the authorized capital stock without, In each instance, the consent of the
registered holders of stock trust certificates calling for two-thirds In amount
of thepref. stock outstanding.
The voting trusteesare J. Pieroont Morgan,
Charles Steele, J. Bruce Ismay, Peter A. B. Widener and W. J. Plrrie.
The preferred stock Is entitled to receive, '--hen and as declared, from
the surplus or net profits of the company, yr arly dividends at the rate of
6% per annum, and no more.
The dividends on the preferred stock are
each of
Dividends on the common stock may only be declared and
paid after all accrued dividends on the preferred stock have been paid, and
shall never In any one year exceed 10 % so long: as there shall remain out¬
standing any of the 4 v, % “mortgage and collateral trust gold bonds.”
In
the event of liquidation, the holders of preferred stock are entitled to be
paid In full both the par amount of their shares and the unpaid dividends
accrued.
After such payments, the remaining assets and funds shall be
divided and paid to the holders of the common stock.
Bonds—Securities Pledged.—The 4 y.% “mortgage and collateral trust”
gold bonds are dated Oct. 1 1902.
The authorized issue Is limited to
$75,000,000, of which $52,744,000 have been Issued.
The remaining
$22,256,000, or any part thereof, can be Issued only as set forth In Art. 1,
Sec. 3, of the deed of trust.
cumulative.
Mortgage and Col. Tr. 4 ^s of 1902.
£1,000
100 shares of £10 each of International Navigation Co. ,LIm
20 shares of Francs 5,000 per share of Soclete Anonyme
de Navigation Beige-Amerlcalne
Francs 100,000
29,993 shares of $100 each of Atlantic Transport Co. of West
Virginia (out of a total authorized Issue of 30,000
shares)
$2,999,300
25 Share Lien Certificates of International Navigation
Co., Limited, for £1,000,000 each, aggregating
£25,000,000, being the total Issue thereof
£25,000,000
Under these £25,000,000 share lien certificates, the International Mer¬
cantile Marine Co. Is entitled to the benefit of the provisions of a trust
indenture dated Sept. 29 1902, made between the International Navigation
Co. Limited, of the one part, and the New York Security & Trust Co. (now
The New York Trust Co.), of the other part, whereby the following shares
and properties, also deposited with the trustee as security for the bonds,
are charged with the payment of the total amount represented by the cer¬
tificates. viz.:
Securities Pledged as Part Security for
.
.
Securities, etc., Pledged ruder £25,000,000 Share TJen Certificates as Further
Security for said 4
"o Bonds of 1902.
Total
Total
Pledged
Issued
750 shares of £1,000 each, being the total capital
stock of the Oceanic Steam Navigation Co.,
£750,000
Llm
45,432 shares of £10 each of the capital stock of the
British & North Atlantic Steam Navigation
Co., Llm
21,437 shares of £15 each of the capital stock of the
454,320
£750,000
456,920
323,070
Mississippi & Dominion Steamship Co..Lira
321,555
of £20 each, being the total capital
stock of the Atlantic Transport Co.. Lint
1,000,000 1,000,000
118,403 ordinary shares of £10 each of the capital stock
of Frederick Leyland & Co. (1900), Llm
-1,184,630 1,200,000
58,703 preference shares of £10 each of Frederick Leyland & Co. (1900), Llm
587,030 1,415,000
The business, goodwill, assets and property of the partnership lirm of
Ismay. Imbrie & Co., excluding therefrom certain properties and rights.
The business, assets and goodwill of the partnership lirm of Richards,
Mills & Co., excluding therefrom certain properties and rights.
The “share lieu certificates" mature Oct. 1 1922, and In the meantime
the registered holders thereof are entitled, pro rata, to receive all dividends
declared and paid upon the shares and all net surplus profits of the business
of the firms mentioned above. International Navigation Co., Llm., has
the right at its option any time before Oct. 1 1922, to retire the certificates
bv payment to the New York Trust Co, for account of International Mercan¬
tile Marine Company, of the consideration received for the certificates,
whereupon the certificates shall be surrendered to International Navigation
Co.. Llm., to be canceled, and the shares and properties charged as security
for the same shall be transferred to International Navigation Company,
Llm., or as It shall direct.
International Mercantile Marine Co. has the
option at any time before Oct. 1 1922 to purchase the said shares and
properties charged as aforesaid by surrendering to International Navigation
International Mer¬
Co., Lira., to be canceled, all of the said certificates.
cantile Marine Co. also has the right to re hypothecate the shares charged
as aforesaid under Its mortgage and deed of trust of Oct. 1 1902
to New
50,000 shares
_
York
Security
&
_
-
Trust Co.
Stocks and Properties upon which 519,618,000 Int.
1899 are a First Lien.
Nav. Co
5% Bonds of
69,900 shares of the nominal value of £10 per share of International
Navigation Co., Limited, out of a total authorized Issue of 70,000 shares.
2,719 shares of the nominal value of franc* 5.000 per share of Soclete
Anonyme de Navigation Beige- Amerlcalne out of a total authorized issue
of 2.769 shares.
as
[VOL. I,XXXIV
THE CHRONICLE
1310
Receipts for payment of $145,530* on account of a certain stamshlp known
“No. 393,” now under construction by Messrs. Harland & Wolff, Limited,
of
Belfast.
The steamships “New York,” “Philadelphia” (formerly called the “Paris”)
“St. Louis,” “St. Paul,” “Kroonland” and “Finland”; also 586,381 cash.
The Stock Exchange has corrected a slight error which
appeared in the application for listing. The $19,618,000.
International Navigation Co.’s first mortgage sinking fund
5% gold coupon bonds, due Feb. 1 1929, are redeemable
Feb.l 1909, the latter clause being left out in the original
application. The 822.256,000 4%% bonds due Oct. 1
1922 are not redeemable after Feb. 1 1909, as was originally
stated in the application.—V. 84, p. 999.
Jenifer Coal & Iron Co.—See Jenifer Furnace Co. below.
pany’s property will be sold at auction at the Bourse, Phila¬
delphia, on ‘June 25.—V. 64, p. 330.
Midland (Ontario) Navigation Co.—Bonds Offered.—The
Detroit Trust Co., Detroit, Mich., is offering at par its 5%
interim receipts, to be exchanged for $100,000 first mortgage
5% gold bonds secured by a first mortgage to Mr. Alexander
McPherson, President Detroit Trust Co., on the new steel
freighter “Midland Prince.”
Builders: Colllngwood Shipbuilding Co., Ltd., Colllngwood, Ont.
Ad
proximate dimensions: 485 feet over all, 55 feet beam, 31 feet depth, 9,000
tons capacity.
Cost of vessel, $325,000. Coupon bonds to be dated
July 1 1907; Issue, $130,000.
Denomination $1,000.
Payable In ten
Interest payable Jan. 1 and July 1 at the Detroit
annual installments.
Trust Co.
A company
known as the Midland Navigation Co., Limited, was Incor¬
porated In Ontario In 1901 with $200,000 capital stock, the Incorporators
Including Arthur Hill, J. S. Playfair, James Playfair, W. J. Morrlce and
D. L. White.
Mexican Light & Power Co.—Purchase.—This company
has completed its purchase of the Puebla Tramways, Light
6c Power Co., which last year acquired the City and-Industrial
railways and the Electric Lighting Co. of Puebla, also the
Tuxpango waterfalls on the Rio Blanco near Orizaba, where
it is proposed
to develop 30,000 h. p. for transmission to
Puebla.
The work contemplated in electrifying the tram¬
ways, reconstruction of the plants and the development of
the water-power will, it is estimated, cost $6,000,000 gold;
but no facts regarding the financing of the purchase and
subsequent work are as yet available. Compare Puebla
Tramways, Light 6c Power Co. in V. 83, p. 272, 493, 626.—
Y. 84, p. 999, 691.
Mississippi Glass Co., St. Louis.—Purchase.—This com¬
pany has purchased the Sergeant Glass Company’s plant at
Kane, Pa., and will operate it in manufacturing rolled, fig¬
ured, polished plate and “wire glass.”
The purchase covers the factory, sand quarries, water rights, workmen’s
The company states that with this
dwellings and about 500 acres of land.
new plant and. its facilities added to Its Latrohe, Port Allegany, Morgantown
and St. Louis factories, the Mississippi Company becomes the world’s largest
producer of flat glass—rolled, figured, corrugated, prism and “wire glass”—
having a capacity of 30,000,000 sq. ft. per annum.
The company Is not prepared to say how the purchase has been or will be
financed, nor to confirm the printed statement that Its own capitalization
consists of $3,000,000 outstanding stock and $750,000 1st mortgage 6 %
bonds.
New York office, 115 Broadway.—V. 78, p. 1552.
Co., Boston.—Bond Issue.—This
mortgage (Internationa! Trust Co.,
Boston, trustee) to secure an issue of $1,000,000 6% 20-year
bonds dated Jan. 1 1907, subject to call on any interest day
at 105; interest payable July 1 and Jan. 1.
Compare V. 84,
p. 629, 511, 394.
Nashua Manufacturing Co.—Dividend Omitted.—The direc¬
tor at their meeting on May 28 omitted the declaration of
the regular semi-annual dividend of 5%, the reason being,
it is undeistood, the breaking of the dam and the building
of a new mill.
Compare V. S3, p. 1350.
New Jersey Terminal Dock &, Improvement Co.—Fore¬
Montana Coal & Coke
company
has filed
a
closure Suit. —The Standard Trust Co., New York, as trustee
under this company’s $3,000,000 mortgage of 1905, under
which there are about $2,386,000 bonds outstanding, has
brought foreelos ire proceedings against the company as pre¬
viously against the Hackensack Meadows Co., under tin*
Ferrior mortgage, preparatory to a merger of the concerns.
Compare V. 84, p. 935, 871, 511.
Niagara Falls Power Co.—Report.—For fiscal
year
ending
Dec. 31 1906:
Other Inc. Bond Int.
Taxes, &c.
Bal., sur,
$1,044,184
$336,687
$79,400
$680,120
$106,777
Interest oil the $4,980,000 6 % debentures (Canadian collateral series A
and B) was included In the cost of construction of the Canadian plant up
to Jan. 1 1907, from which date the plant has been In commercial operation.
Including the Canadian property, the Niagara Falls Power Co. has available
plants with an aggregate capacity for an output of about 117.000 horse
power, of which about 95,000 Is yielding revenue.
See V. 84, p. 807, 224.
Gross Earns.
Net Earns.
$1,370,308
North American Company.—Notes Offered.—Redmond 6c
Co., New York, and Leo, Higginson 6c Co., Boston, arc
offering by advertisement on another pag ', at 93% and inter¬
The creditors are jubilant over the outcome of suits Instituted In the
est, at which price the inv< stor receives 6%% interest,
United States Court some time ago for the recovery of various Individual
$2,500,000 of the authorized issue of $5,000,000 5-vear 5%
claims amounting In the aggregate to about 5200.000.
Prior to the an
collateral trust gold notes dated May 1 1907 and due May 1
nouncement of the suits the company had offered settlements on a basis
of from 10 to 20 cents on the dollar.
According to the settlement just
1912, but subject to call at company’s option after two years
reached, they pay 100 cents on the dollar, together with attorneys’ fees and
from date, on 30 days’ notice, at 101 and interest.
accrued costs.
See V. 79, p. 155.
Tluse
The Jenifer Coal & Iron Co. was incorporated In Alabama on May 23
nob s are secured by the deposit of $5,000,000 of the common
with 5150,000 capital stock, the directors being J. M. Thomas, President;
Geo. Schumacher, of Anniston, Ala., and Aubrey Thomas of Niles, Ohio,
capital stock of tIk* Laclede Gas Lght Co. of St. Louis,
forthe purpose. It Is understood, of taking over the property.—V. 79, p. 155.
and by $1,500,000 of the capital stock of the Union Electric
Joumeay & Burnham Co., Brooklyn, N. Y.—Sale of Mer-. Light 6c Power Co. of St. Louis, and they are further pro¬
chandi.se.—Supreme Court Justice Kelly, in Brooklyn, on tected by the provision that t.he company shall deposit ad¬
May 29, authorized Receiver Wm. E. Phillips to accept the ditional collateral, if necessary, “so that the appraised value
bid of $185,000 made by E. E. Edwards.& Sons, of Syracuse,
of the pledged securities shall always be at least 30% in
for the merchandise of the company and to dispose of the
excess of the par value of tlx1 notes outstanding.”
The
delivery system, if possible, for not less than $9,000.
Mr. North American Co. lias no other outstanding indebtedness
Phillips is quoted as saying that the creditors will be paid and it is paying dividends at the rate of 5% per annum on its
dollar for dollar, but how much will remain for the stock¬
$29,792,300 capital stock. See advertisement also addi¬
tional particulars in V. 84, p. 1252, 1185.
holders is not yet known. — V. 84, p. 1117, 578.
-Ohio & Indiana Gonsolidated Natural Gas & Illuminating
Lake Superior Corporation.—See Canadian Improvement
Co.—Receiver.-—Judge R. W. Anderson of the United States
Co. above.—V. 84, p. 870, 697.
Court on May 25 appointed Samuel rIY Murdock of Lafayette,
Louisville (Ky.) Lighting Co.—New President.—F. M.
Ind., receiver of the property of the Ohio & Indiana Gas Co.,
Sackett, who was recently elected President of the Louisville Indiana Natural & Illuminating Gas Co., Logansport 6c
Gas Co., has been elected President to succeed Adolphe
Wabash Gas Co. and Lafayette Gas Co., in the pending
Snead, who resigned to move to New York. Mr. Snead will foreclosure suits of the Central Trust Co., New York.—V. 84,
remain a director.—V. 84, p. 1252.
p. 1056, 871.
Owens Bottle Machine Go., Toledo, O.—Payment of Ac¬
Lykens Valley Coal Co., Philadelphia.—Sale. — Under an
.order of the Court of Common Pleas, in the suit of Samuel cumulated Dividends.—See foot-notes to balance sheet under
Ilea, trustee under $1,500,000 mortgage of 1875, the com¬ “Annual Reports” on a preceding page.—V. 83, p. 1595.
Jenifer (Ala.; Furnace Co.—Settlement with Creditors.—A
press dispatch from Anniston, Ala., on May 11 said:
Cal.—Reincorporation—Stock Increase.—This company filed articles
of incorporation under California laws on May 20 with $20,000,000 authorized capital stock, in shares of $100 each, of
which one-half is preferred, to enlarge the scope of the Pacific
Lighting Co., a holding company, with headquarters at San
Francisco, its paid-in capital stock and surplus having re¬
cently been $2,722,702 (the authorized stock being 40,000
shares of $10 each; outstanding, 37,000 shares, on which
in 1903 $47 per share was officially reported to have been
paid in. V. 76, p. 923). Among the companies controlled
the Los Angeles Gas it Electric Co. (a consolidation in
1904 with $4,000,000 stock and $3,035,000 bonds—see V.
78, p. 1965; V. 79, p. 107, 630; V. 83, p. 1527—of the Los
Angeles Lighting Co. and Los Angeles Electric Co., two com¬
panies whose entire share capital was owned by the Pacific
Lighting Co.; also the Eureka (Cal.) Light Co. (stock $250,000, of which 67% owned) and Pasadena Consol. Gas Co.
Pacific Lighting
construction), $1,198,000.
Whiting Electric Co.
Corporation, San Francisco,
441).
Alfred Sutro, C. O.
G. H.
Meters.
r
The incorporators of the new company are:
G. Miller, George F. Voltman, Charles Holbrook and
• •
Collins.—V. 83, p. 497.
outstanding $30,000 bonds of
Arc
.
p.
There are also
Gas Depart ment-
are
(V. 83,
1311
THE CHRONICLE
June 1191*7. i
Philadelphia Company for Guaranteeing Mortgages.—New
Enterprise—Charter Granted.—This company was incorpor¬
ated on May 22 1907 under the laws of Pennsylvania, “being
the first corporation organized in the State purely for the
purpose of buying, selling, collecting and guaranteeing pay¬
ment of ground rents, mortgages and other real estate securi¬
ties. ”
The company has a temporary office in the Land Title
Building (Room 833), Philadelphia. Directors and officers:
Directors: Abraham M. Beitler, Edward H. Bonsall, Ellwood Bonsall,
Henry P. Brown, Harry G. Clay, Henry R. Gummey, Richard M. Hartley,
Louis B. Henry, George W. Kendrick Jr.. John C. Lowry, William R.
Nicholson, C. Stuart Patterson, Frank P. Prichard, Walter George Smith,
Henry W. Watson.
Officers: President, William R. Nicholson, President
The Land Title & Trust Co. of Philadelphia;
Vice-President, Louis B.
Henry: Secretary and Treasurer, Samuel C. Edmonds, for the past nine
years the efficient and trusted head of the State and City Department and
State and City Section of the "Commercial and Financial Chronicle," a
position he relinquished to take up his new duties.
An authoritative statement follows:
Capital, $1,000,000; surplus, $250,000.
The stock Is divided into 10,000
shares of the par value of $100 each, which were offered for subscription
at $125 per share, and were quickly subscribed, chiefly by men Identified
The
with the Land Title & Trust Co. of Philadelphia and their friends.
sole business of the corporation will be the purchase and sale of first mort¬
gages on Improved real estate In the city of Philadelphia and vicinity; the
guaranty of the payment of the principal and Interest of such mortgages,
and the Issuing of mortgage certificates.
The experience of similar comuslnessin to
be safe
Newand the securities guaranteed by them
Eanies
other
cities,andnotably
profitable,
are much, sought after by Institutions and Individuals as safe Investments.
Pocahontas Consolidated Collieries Co.—Merger Company
Incorporated.—This company was granted a charter on May
24 by the Virginia Corporation Commission, with $7,800,000
authorized capital stock (of which $2,800,000 is preferred)
to merge the Pocahontas Collieries Co. and the Pocahontas
Consolidated Co., per plan in V. 84, p. 1000.
420
Nov. 1 1902.
2943
April 30 1907. JL-- 3863
Apill 30 1906
Results for
Ranges.
0000
1926
2576
Ytar
ending April SO
1
1906-07.
—Electrical Department—
H. P.
Street
Custo¬
Lamps.
000
mers.
Arcs.
362
156
240
289
824
1029
576
871
1907 and
Calendar Years
1904
1906.
1905.
A rotors.
000
215
338
to 1906.
1904.
65,007,800 48,349,000
$66,369
$53,409
$42,278
Net earnings,
$28,960
$22,252
$15,452
do
34,864
24,052
11,126
Do
Total
$71,423
$63,824
$46,304
$26,578
Estimated result for calendar year 1907, gas department sales, 122,000,000 cu. ft.: electric department sales, $86,000; total net earnings, $85,000;
bond Interest, $41,600; balance, surplus, $43,400.
Sec further particulars
101,171,400
$73,071
$31,947
electricity
gas
39,476
cubic feet
Electric Dept, sales
Gas sales,
In V. 82, p.
90,079,600
937.
Standard Oil Co.—Decision in Miisouri Suit.—Judge
Robert A. Anthony, the commissioner appointed in the suit
Attorney-General Hadley of Missouri against
Oil Co. of Indiana, the Waters-Pierce Oil Co.
and the Republic Oil Co. to annul the charter of the WatersPierce Co. and oust the Standard and Republic companies
brought by
the Standard
foreign corporations, filed his report on May 24 sustaining
contentions of the State.
The defendants were charged with forming a conspiracy to control the
sale of oil In Missouri.
It Is held that while no formal agreement was pro¬
duced proving a division of territory between the Waters Pierce and
Standard Oil companies, the evidence shows that an understanding for
such a division was had as far back as 1876 and faithfully kept.
Chicago Rebate Verdict.—A jury in the Federal Court at
Chicago, Judge Landis presiding, on April 13 brought in a
verdict finding the companj’ guilty of accepting rebates in
violation of tlie Elkins law under an indictment containing
1,463 separate counts. The minimum fine for each offense
is $1,000, the maximum $20,000.
Oil, it was charged, was
shipped to St. Louis from Whiting, Ind., over the Chicago
as
the
Alton at 6 cents a
hundred pounds, the
&
regular published
cents.—V. 84, p. 1252, SOS.
United Fruit Co., Boston.—Nipe Bay Purchase Approved.
—At the special meeting of the stockholders, held in Jersey
City May 29 the proposition to take over the entire common
stock of the Nipe Bay Co. was unanimously ratified per plan
rate
York and Brooklyn, has proven this
being 18
in V.
84, p. 1057,
755.
Co., Philadelphia.—Philadelphia
Operations.—See “Annual Reports” on a pre¬
United Gas Improvement
Gas Lease and
ceding page.
Kansas
City Gas Co. Leases,
p. 1253, 1112.
Ac.—See that company
above.—V. 84,
United States Express Co.—Rates
State Commerce Commission on May
Reduced.—The Inter-
5 made its first
ruling
the rates from New Jersey
York City on cut flowers
and on empty flower boxes from New York to the same
Pittsfield (Mass.) Electric Co.—New Bond Issue.—See points.—V. 84, p. 1125, 1057.
Pittsfield Electric Street Rv. under “Railroads” above.
United States Starch & Glucose Co. of Philadelphia.—
—V.
77, p. 1297,
regard to express rates, reducing
and Pennsylvania points to New
in
454.
New Stock.—This company, incorporated in Pennsylvania
Co.—Consolidation.— March 20 1906, has filed a certificate of increase of capital
recently formed stock from $150,000 to $4,000,000’
with $3,500,000 capital stock bv consolidation of East St.
Utica (N. Y.) Gas & Electric Co.—Bonds—Proposed Ac¬
Louis Gas Light Co. and the Belleville Gas it Electric Co.
quisitions.—Application has been made to the New York
See V. 84, p. 511.
State Gas Commission for authority (1) to issue $2,000,000
Bond Issue.—A mortgage has been filed to the Girard Trust
Co. of Philadelphia, as trustee, to secure an issue of $3,500,000 5% 50-year bonds under the $5,000,000 mortgage; (2) to
acquire the Herkimer County Light it Power Co., the Glens
6% gold bonds
Falls Gas it Electric Co., the Consolidated Light it Power Co.
Shawinigan Water & Power Co.—Debenture Stock.—The of Whitehall and 51% of the capital stock of the United Gas,
“Monetary Times” of Toronto on May 25 said:
Electric Light *t Fuel Co.
The commission will give a hear¬
meeting of the company held on Tuesday, it was decided to issue
At
ing on the application June 13. Compare V. 84, p. 107.
perpetual
4 'j % debenture stock to the value of $1.250,000 par. A further
Issue will not be made until the earnings amount to twice the Interest
the present issue.
The English market will take the Issue, none being
—Ulman, Morse it Co., 30 New Street and 66 Exchange
offered
this market.
The object of the stock Is partly to pay for ac¬
quiring the North Shore Power Co., at Three Rivers, and the Continental
Place, of this city, to-day opened their branch office at 224
Light, Heat & Power Co., at Thedford Mines.
The debenture stock will be Bellevue Avenue, Newport, R. I., for the summer season.
the securities being acquired, and will rank next to the first
first charge
On June 15 their summer branch at Casino Hotel, Narramortgage bonds on the rest of the property.
The earnings In February 1906 were $27,078, those In February 1907
gansett
Pier, R. I., will be opened. The firm is composed of
being $42,571 and those last month being $44,150, so that the progress of
the company Isvery satisfactory.
Since April the company Is said to have Joseph S. Ulman, E. Rollins Morse and N. R« sseter Betts,
secured
contract with the Northern Aluminum Co. by which its annual
who. are members of tilt1 New York and Boston Stock Ex¬
will be Increased to about $629,800.
Compare V. 84, p. 697.
changes, New York Coffee Exchange and Chicago Board of
South Baltimore Steel Car & Foundry Co.—New Stock.— Trade.
The concern maintains other offices at 25 West 33d
Stockholders of record May 30, have the right to subscribe pro Street (Astor Court) and 718 Fifth Avenue, New York.
rata at par till June 15 for $250,000 preferred stock, with a
President Charles A. Lockwood of the Jamaica Water
bonus of 50% ($125,000) in common stock, making the
Supply Co. announces on another page that the first mortgage
total authorized share capital ($1,000,000 common and
6% bonds which mature June 1 1907 will b«; paid, principal
$500,000 6% preferred) outstanding. A dividend of 3% and interest, on presentation at the office of the People's
has been declared on the common shares, payable June 28 to Trust Co.,
181-183 Montague St., Borough oi Brooklyn.
holders of record April 30.
Dividends on the preferred stock Holders of these bonds are given the privilege of exchanging
are payable in February and August.
their present holdings for Jamaica Water Supply Co. unified
A special train on May 22 carried the stockholders to Curtis Bay to Inspect
first mortgage 5% gold bonds due July l 1954 at 98 and
the plant, which, It Is stated, gives constant employment to 3,300 men and
St. Clair County (Ill.) Gas & Electric
This is the correct name of the company
a
on
on
on
a
a
revenue
—
turns out 50 "completed model metal
said to be over $300,000.
Officers:
of the Board. Charles T. Crane;
Manager. John H. Farlow;
ton Luzlus.
See article In
cars a
day.” The total surplus Is
President, Howard Carlton: Chairman
Vice-President, J. Edward Harvey; General
Treasurer, Carter G. Osborn; Secretary,
"Baltimore Sun" of May 23.—V. 81, p.
H. Mil¬
1562.
South Shore Gas & Electric Co., Hammond, Ind.—Bonds
Offered.—H. T. Holtz A Co., 620 New York Life Building,
Chicago, are offering at 95 and interest, making them yield
over 5*4% annually on the money invested, $200,000 30-year
general mortgage 5% gold bonds dated Dec. 1 1903 and due
Dec. 1 1933, but redeemable on and after Dec. 1 1908 at 105
and interest.
A circular says:
Authorized bond Issue, $2,000,000; reserved to take up outstanding bonds
of Hammond Illuminating Co., $290,000; outstanding, $512,000; bonds re¬
served for new construction (can be Issued only for 90% of the cash cost of
accrued interest.
—Messrs. E. H.Rollins & Sons, Boston, Chicago,
San Francisco, are offering a selected list of
Denver and
Municipal, Rail¬
way and Public Service Corporation Bonds at prices which
yield a very good return on the investment. For detailed
list see advertisement on another page.
—F. J. Lisman & Co. are offering 2,000 shares Connecticut
Railway it Lighting Co. 4% guaranteed common stock to
yield 5kt%>. See advertisement on another page for full
particulars.
of their Boston
13 Congress Street.
—Adams it Co. announce the removal
office on June 3 from 7 Congress Street to
[Vol.
THE CHRONICLE.
1312
LXXXIV.
COTTON.
The (Enmmzxtiixi
Friday Night, May 31 1907.
as indicated by our
telegrams from the South to-night is given below. For
COMMERCIAL EPITOME.
the week ending this evening the total receipts have reached
New York, Friday Night, May 31 1907.
47,513 Wes, against 51,882 bales last week and 56,619
bales the previous week, making the total receipts since
With warmer weather general trade, already large, has
the 1st of September 1906, 9,490,514 bales, against 7,426,996
increased somewhat and prices have been very generally9
bales for the same period of 1905-06, showing an increase
steady. An excellent trade in manufactures is still a feature. since
Sept. 1 1906 of 2,063,518 bales.
Money rates have been easy and the feeling throughout the
country is, for the most part, confident. Speculation in
Fri.
Total.
Thurs.
Mon.
Wed.
Tues.
Sat.
Receipts at—
grain and cotton has been sufficiently large to attract atten¬
THE MOVEMENT OF THE CROP
tion.
Galveston
Port Arthur
LARD on the spot has been dull and steady.
Export
trade has continued lifeless.
Small jobbing sales have been
made of late at 9@9J/gc. for City and 9*4c. for Western.
Refined lard has declined owing to the dulness of trade and
CorpusChrlstl, Ac
increased
offerings.
Continent
Refined
9.55c.,
South
America 10.50c. and Brazil in kegs 11.50c.
Speculation in
lard futures at the West has been active with prices irregular.
In the main, however, the tone has been firm, despite con¬
realizing at times and the dulness of the spot trade.
Packers have given support and commission houses have
bought on recessions. Some falling off in the movement of
live hogs has also contributed to strengthen the tone.
siderable
DAILY CLOSING PRICES
Sat.
delivery
July delivery
September delivery
Mav
8.95
9.02H
9.15
on
9.00
9.07
9.22 y±
9.00
9.07H
9.22 H
9.12H
9.20
9.32 3^
Hollday.
9.22H
9.27H
9.45
the spot
The closing prices were as
5.40c. October
5.30c. November
5.25c. December
5.25c. | January
June.
July
August.
-
_
September
PORK
on
the
-
follows:
5.25c. |
5.25c. |
5.25c. |
February
March
April
_
5.30c.
5.35c.
5.35c.
5.25c. |
spot has been rather more active with
A small export business has been reported
improvement in the strike situation on the
Mess $17 50(e SIS 50, clear S17 25@$18 25 and
family $19@$19 50. Tallow has been steady with trade
dull and offerings small; City 0;!s@fij oc.
Stearines have
been quiet and steady; oleo 9l2@10e. and lard lOb^elOlte.
Cut meats have been quiet and steady; pickled shoulders 10c.,
pickled hams 12@ 12t£c. and pickled bellies, 14@10 lbs.,
11C*>@; 1-L'e.
Butter has been active and firm; creamery
extras 24^@25c.
Cheese has been moderately active and
firm; State, new, small, colored, best, 12C£c.; white 12}^c.
Eggs have been in fair demand and steady; Western firsts
prices steady.
of late
docks.
owing to
an
l(5%@lfi-Mc.
OIL.—Cottonseed has been quiet but stronger, owing to
advance in seed and light offerings.
Prime summer yel¬
low 00@01c.; winter 65c.
Linseed has been moderately
active and steady; City, raw, American seed, 44@j45c.;
boiled 45@40e.; Calcutta, raw, 70c. Lard has been quiet and
an
steady; prime 7S@82c.; No. 1 extra 51@52e. Cocoanut
has been quiet and steady; Cochin 10%c.; Ceylon 9*4@9%c.
Peanut has been dull and steady; yellow 50@60c.
Olive
has been quiet and firm; yellow 85@90c.
Cod has been in
moderate demand and steady; domestic 38@40c.; New¬
foundland 40@42c.
SUGAR.—Raw has been
small lots.
Centrifugal,96
steady with the sales limited to
degrees test, 3.90c.; muscovado,
89-degrees test, 3.40c., and molasses, 89-degrees test, 3.15c.
Refined has been quiet and steady.
Granulated 4.90c.
Teas have been in moderate demand and firm.
Spices have
been steady with a good jobbing demand.
Hops have been
quiet and steady.
PETROLEUM.—Refined has been firm with a good de¬
mand for export and domestic account.
Refined, barrels,
8.20c.; bulk 4.75c. and cases 10.65c.
Naphtha has been
active and firm; 73@76 degrees 18c. in 100-gallon drums.
Gasoline has been in brisk demand and firm; 86 degrees 21c.
in 100-gallon drums.
Spirits of turpentine has been mod¬
erately active and firm at 64c.
Rosin has been in fair de¬
mand and steady; common to good strained $4 90@$4 95.
TOBACCO.—The market for domestic leaf has ruled quiet
and firm.
Offerings have continued light, holders remaining
firm, owing partly to unfavorable crop reports. The con¬
tinued unseasonably cold weather, according to many re¬
ports, is unfavorably affecting the outlook for the crop.
Manufacturers, however, generally report few orders. There
has been a good trade in Sumatra leaf at firm quotations. COPPER has been less active and easier; lake 24y2@
*24%c.; electrolytic 23>^@23^c. Lead has been dull and
steady at 6c. Spelter has been firm at 6%@6.45c. Tin
has been fairly active and easier; Straits 42J^c.
Iron has
been firm and more active;
No. 1 Northern $24 20@25 20;
No. 2 Southern $24@25.
2,646
1,690
1,944
146
146
1,790
1,743
1,530
3,356
2,148
186
161
116
932
307
11,994
1,757
25
25
681
2,152
3,714
2,235
1,135
10,724
2
2
145
4
145
220
25
568
2
505
1,111
6,261
127
548
24
127
701
202
548
256
7,666
47,513
2,230
'1,427
_
New Orleans
55
Mobile
Pensacola
^
_
13,902
.
Jacksonville, Ac.
807
Savannah
Brunswick
Charleston
•
Georgetown
Wilmington
Norfolk
119
70
23
198
761
137
89
54
1,070
1,603
1,148
39
639
58
N’port News, Ac.
23
86
29
141
43
48
4,787
6,236
10,080
New York..
Boston
_
29
Baltimore
Philadelphia
Totals this week.
—
9,907
8,837
OF LARD FUTURES IN CHICAGO.
Mon.
Tues.
Wed.
Thurs.
Fri.
has been dull and easy. Rio No. 7,
6%c. and Santos No. 4, (\%q. West India growths have
been quiet and steady; fair to good Cucuta 8^@9J4CSpeculation in future contracts has been dull and, in the
main, devoid of features worthy of note. Fluctuations in
prices have been unimportant. At times the tendency of
prices has been downward, owing to liberal receipts at Rio
and Santos, liquidation and selling against firm offers from
Brazil; but local interests have given support in order to
prevent any marked depression.
COFFEE
4,222
1,170
The following shows
since Sept. 1 1906, and
last year:
the week’s total receipts, the total
the stocks to-night, compared with
This
week.
Arthur
Corp. Chrlstl, &c.
New Orleans
Mobile
Pensacola
Jacksonville,
Savannah
Brunswick
Charleston
&e_
170.534
145
220
..
Georgetown
Wilmington
146,382
1,145
321,179
fl568,942
_
505
6,261
Norfolk
127
701
202
548
256
38,796
22,489
47,513
j 9,490,514
N’port News, Ac;
New York.
Boston
Baltimore 1
_
Philadelphia
Total
a
Since Sep
1 1906.
13,902 3,811,200
132,823
146
71,762
11,994 2,225,764
251,562
1,757
139,398
"'25
7,545
10,724 1,443,947
Galveston
.Port.
Stock.
1905-06.
1906-07.
Receipts to
May 31.
70,755
58,061
8,230
This
week.
Since Sep
1 1905.
16,330 2,466,419
111,696
1,278
36,376
16,520 1,566,646
3.382
232,506
5.383
144,418
181
17,316
21,834 1,419,483
1,718
179,954
317
168,247
16
1,217
3,972
313,770
5,736
609,284
378
21,188
112
6,247
288
60,901
324
63,274
8,054
17
77,786 7,426,996
1906.
1907.
82,306
89~488
117,385
10,375
105,935
17,692
41,836
63,454
868
10,384
9,7 87
.
6,600
_
.
'
10,949
25,405
14,571
26,931
158
179,173
10,546
6,157
1.275
166,359
6,234
4,620
2,142
493,033
517,597
.
8,859 bales added as correction of receipts since Sept. 1.
Iii order that
w 1
comparison may be made with other years
give below the totals at leading ports for six seasons:
1907.
Receipts at—
|
Galveston, Ac.
14,048*
New Orleans.
Mobile
Savannah
11.094;
1 ,757
10,724
Charleston, Ac
Wllming’n, Ac
220;
505,
6,261 j
127'
1,877
Norfolk
N’port N., Ac
All others
Total this wk.
47,513,
1904.
1905.
1906.
30 671
17,608
16,520
3,382
21,834
i
378
8,023
17,008;
782
77,786
130,614 j
20,445
3,972
5,736
14,0721
156|
82
4,996'
19,614'
1,591
8,613!
19,185 j
2,1 28j
333
3,463
9,081
6,517i
6,145
7,523
26,748|
1902.
1903.
2,529
28
4
16
8901
245|
3,383
90'
497
782
73
10
*
749;
2,245
70
1,097
1,496!
24,291
4,128
j.
21,433
Since Sept. 1_ 9,490,514 7,426,996 9,080,109 6,994,686 7,532,336:7, 298,411
ending this evening reach a total
14,265 were to Great Britain,
7,656 to France and 28,191 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1906:
The exports for the week
of 50,112 bales, of which
From
Week ending May 31 1907.
Exported to—
Sept. 1 1906 to May 31 1907.
Exported to—
Exports
]rum—
Great \
Britain. Fr’nce
I
j 7,630
Galveston
Port Arthur.. _j
Corp.Chrlstl.Ac
i
!
New Orleans..
Mobile
110,
,_j
5.2G4J
Savannah--—j
Brunswick
Charleston
:
!
Wilmington
j
|
Newport News
New York
Boston
2,89S|
1.114
Baltimore
Philadelphia
4,879
,
Conti-
Great
|
Britain. France.
Total.
nent.
..
Portland, Me
San Francisco
Seattle
Tacoma
19,000 1 ,728,005 462,1771 008,932 3 ,259,114
75,861:
132,823
56,962,
1,547
1,547
2.776
2,886
889,882 275,828
800,766 1 ,966,476
92
92
60,406'
156,989
68.524 28,059
149,317
64.166 29,342
55,809
100
100;
1,944'
7,208
162,146 49,766
683,669: 895,581
142.240
52,519
89,721,
j
21,393
21,393
115,021
6,666 186,265! 307,286
5,047t
2,367
J
7.414
4.420
776
776
1,720
6,140
4.408
7,306
202,081
189,928 38.117
430.126
129,347
1,111
17,6131 146,960
773
5.678
80,831
6,159
64,023; 151,013
387
387
4,266
37,774
33,508:
7.501
7,501'
79,142
79,142
90,504
90,504
11,370
Portland, Ore
Pembina
Detroit
Total
Total 1906
Total.
nent.
j
I
Femandlna
Conti-
46,598,
46,598
900
900
4,176
4.176,
;
9,679
9,679
j 14,265( 7,656; 28,191, 50,112.3,632.008895,4483,523,337,8.050,793
19,658*16,313 36.929 72,900‘2,687.563 672,967 2,584,290*5,944.820
!
1
|
‘
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In addition to above exports, our telegrams to-night
give us the' following amounts of cotton on shipboard,
also
not
cleared, at the ports named. 'We add similar figures for
New York.
On
Great
Savannah
Charleston
.
1,147
9,053
22,968
Foreign
15,039
5,728
1,624
3,361
3,192
....
Mobile
Norfolk
New York
Other ports.
Leaving
Coast¬
wise.
Other
Germany.
1,338
2,233
600
100
200
5*234
17,747
__
Total 1907...
Total 1906..
Total 1905..
200
1,500
2,000
40,755
34,045
91,121
1,347
15,848
26,889
900
1,800
1,200
300
22,218
24,491
17,990
16,466
8,653
53,844
31,311
and closing prices at
FUTURES.—The highest, lowest
Shipboard, Not Cleared for—
May 31 at— Britain. France
New Orleans.
Galveston
1313
THE CHRONICLE
June 1 1907. J
Total.
stock.
29,938
34,121
2,224
87,447
48,185
39,612
6,500
4,941
7,658.
174,773
26,453
100
5,434
17,747
4,400
3,500
97,464
21,084 142,811
30,289 196,076
395,569
374,786
351,110
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Speculation in cotton for future delivery has latterly been
active and excited at decidedly higher prices.
This was due
solely to cool, rainy weather and bad crop reports. There is
a growing fear that the Government report , which is to be
issued on Tuesday next, will be of a decidedly bullish char¬
acter.
More than that, it is feared that unless the weather
conditions in June show a very marked improvement, reach¬
ing, in fact, something like the ideal, there may be so marked
a falling off in the yield as to seriously disturb the equilibrium
between supply and jdemand.
With a big consumption and
a deficient supply there would, it is held, be nothing for it
but still higher prices.
The worst conditions are supposed
to exist in the northerly half of the belt, and the best, on the
whole, in the extreme southerly portion. Yet it is a fact
that a good many unfavorable reports come from all parts of
the belt, speaking more particularly of poor stands, weak
plants, rotting seed, the necessity of replanting, which has
past week have been as follows:
New York the
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been done in some cases several times, all of which is set
down to the baneful effects of prolonged cold and rainy
weather.
Of late the bull speculation has become rampant,
>2
a.
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prices in a single day rising 45 to 50 points, and in two days
■1
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making an advance of fulhr $4 a bale, amid excitement not
ZL
equaled since some of the wild days of 1903. Some reports
|@ i © | © | © 1 © 1 © 1® 1© i© | © 1® 1®
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have been issued, too, to the effect that there may be some
actual decrease in the acreage.
One by a Southern news¬
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paper put it at .0 of 1% less than last 3rear, while another
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report makes it greater. It is not very generally thought,
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however, that there will be any decrease in the planted
1® I© 1© 1© 1®
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area, though it is believed that very possibly the contem¬
plated increase may be less than was at one time expected,
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owing to cold weather and heavy rains, grassy fields and the
I
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dearness of seed.
In the main, it is a question of how pro¬
THE VISIBLE SUPPLY OF COTTON to-night, as made
ductive a very large acreage planted is likely to be. That the
acreage will be large under the stimulus of present high prices up by cable and telegraph, is as follows.
Foreign stocks,
is accepted by most people as a foregone conclusion.
They as well as the afloat, are this week’s returns and conse¬
also contend, as already intimated, however, that weather
conditions must greatly improve if we are not to have a quently all foreign figures arc brought down to Thursday
repetition of the experience of more than one season in the evening. But to make the total the complete figures for
past, when by reason of bad weather a large acreage has pro¬ to-night (Friday), we add the item of exports from the
duced really less than a smaller one.
During the week Wall United States, including in it the exports of Friday only.
Street and the West have been good buyers and the same
1904.
1905.
1906.
1907.
May 31
580,000
828,000
901,000
Stock at Liverpool
bales. 1,222,000
1,222,000
may be said of the South, of Liverpool and the Continent.
10,000
12,000
14,000
10,000
at London
In fact, buying has been very general.
Some new operators Stock
51,000
55.000
67,000
94,000
Stock at Manchester
in the Board room have come more plainly to the front on the
641.000
895,000
982,000
.1,326,000
bull side and the outside public has shown an even greater
11 ,000
22,000
13,000
9,000
Stock at Hamburg
interest in the speculation.
233,000
345,000
235,000
375,000
To-day there was another ex¬ Stock at Bremen
4,000
1,000
Stock at Antwerp
cited and rising market, owing to the continuance of condi¬
108,000
117,000
260,000
145,000
Stock at Havre
tions outlined above.
3,000
4,000
3,000
Aggravated by cloudbursts in Texas, Stock at Marseilles
3,000
21,000
30,000
11,000
19,000
at Barcelona
copious rains in Louisiana, and with low temperature in Stoek
28,000
51,000
49,000
71,000
Stock at Genoa
15,000
many sections, and a report by a private statistician putting
5,000
21,000
8,000
Stock at Trieste
the condition on May 25 at only 63.4%, against Government
494,000
563,000
465,000
758,000
Total Continental stocks
figures given out early in June last year of 84.6%, while two
1,447,000 1,458.000 1,135,000
2,084,000
Total European stocks
2
years ago they were 77.2%.
A rise of 50 to 52 American India
197,000
92,000
177,000
199,000
cotton afloat for Europe
points in Liverpool and a big speculation among both Ameri¬ American cotton
86,000
192.471
324,000
alloat for Europe 185,497
22.000
18.000
21,000
and
3
can
33,000
European operators capped the climax. A local Egypt,Brazil,&c.,afloat for Europe 119,000
146,000
170,000
95.000
Stock In Alexandria. Egypt
house states the condition at 70.2%.
been
dull,
Spot has
466.000
934,000
787,000 1,014,000
Stock In Bombay. India
278,763
517.597
but strong.
547,186
493,033
Middling closed at 12.90c., an advance for the Stock in U. S. ports
150.438
270,787
300,511
268,538
Stock in U. S. interior towns
week of 55 points.
5.080
3,007
29,220
5,770
U. S. exports to-day
The rates on and off middling, as established Nov. 21 1906
4.174.838 3,734,862 3,875,917 2.486,341
by the Revision Committee, at which grades other than
Of the above, totals of American and other descriptions arc as follows:
middling may be delivered on contract, are as follows:
America n—
1
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.
Fair
Strict mid. fair
-c.
Middling fair
Barely mid. fair..
Strict good mid
Fully good mid
Good middling
Barely good mid..
Strict middling
Middling
2.00 on; Strict low mid-.c. 0.14 off;
1.75 on Fully low raid
0.82 off
Middling tinged.c_ 0.12 off
Strict low mid.ttag 0.46 off
0.90 00
1.25 off
0.42 off
1.07 off Middling 6tai*e4_. 0.60 off
1.50 on; Low middling..:. 0.50 off Low mid. tinged..
1.25 on Barely low mid
0.70 off: Strict g’d ord. ting
1.00 on j Strict good ord
0.90 off Fully mid. Btatned
0.88
on
0.76 on
0.57 on
0.38 on
Basis
!
Fully good ord
Good ordinary
1.25 off
Strict g’d mid. tgd. 0.30 on
Even
; Good mid. tinged.
! Strict mid. tinged. 0.06 off
The official quotation for middling
New York market each day of the past
May 25 to Mau 31—
Middling upland
Sat.
12.35
Mon.
12.35
Barely mld.stateed
j Strict low m. state.
Fully I. m. stateed
: Low mid. etaimd.
0.78 off
1.50 off
1.75 off
2*00 tef
upland cotton in the
week has been:
Tues.
12.25
Wed. Thurs.
12.50 Hoi.
Fri.
12.00
MARKET ANI) SALES AT NEW YORK.
The total sales of cotton on the spot
week at New York are indicated in the
Liverpool stock
Total Amecrlcan
East Indian. Brazil,
Spot
Market
Closed.
Con-
Export sum’n.
_
..
.
.HOLIDAY.
Steady. 40 pts. adv. Steady
Total
—
—
125
Total.
125
125
Steady
Steady
Saturday
Barely steady
Monday
Steady
Steady. 10 pts. dec. Steady.
Tuesday
Wednesday Steady, 25 pts. adv. Firm
Thursday
Friday
Contract.
1,000
1,000
100
100
100
100
3,700
3,700
4,900
5,025
.
185,497
.
493,033
493,033
268,538
.
.
5
,770
2,804,838
127,000
.
10,000
15,000
London stock
Manchester stock
Continental stock
1..
India afloat for Europe
Egypt, Brazil, &c., afloat.
Stock in Alexandria, Egypt
Stock in Bombay. India
each day during the
following statement.
Sales of Spot and Contract.
79,000
678,000
787,000
56,000
410,000
192,471
517,597
270,787
3,007
2!,236.862
547,186
300,511
29,220
458,000
41,000
405,000
86,000
278,763
150,498
5,080
2,525,917
1,424,341
750,000
44,000
531,000
324,000
Ac.—-
Liverpool stoek
80,000
199,000
.
33,000
.
.
119,000
787.000
114,000
14,000
11,000
55,000
177,000
18,000
95,000
:1,014,000
78,000
12,000
11,000
32,000
92,000
21,000
170,000
934,000
122,000
10,000
10,000
89,000
197.000
22,000
146,000
466,000
1,370.000 :1.498,000 1,350,000 1,062,000
.2.804,838 i2,230,862 2,525,917 1,424,341
Total visible
Futures
Market
Closed.
.1,095,000
.balcs.1,095,000
Manchester stock.
Continental stock
American afloat for Europe
U. S. port stocks
U. S. Interior stocks
U. S. exports to-day
supply
Middling Upland. Liverpool
Middling Upland, New York
Egypt, Good Brown, Liverpool..
Peruvian, Rough Good, Liverpool
Broach, Fine, Liverpool
Tlnnevelly, Good, Liverpool
7.40d.
7.40d.
12.90c.
12.90c.
1074d.
ll.lod.
3,734,862 3,875,917 2.486.341
6.72d.
4.70d.
6.02d.
8.50c.
8.50c.
12.00c.
11.25d.
8.65d.
7 1 l-16d.
7 15-16d.
10.80U.
10.50d.
6 5.16d.
5 13-16d.
6md.
5^d.
5
11-16d.
5 ll-16d.
5 9-16d.
4^d.
4 7-16d
Continental imports past week have been 143,000 bales.
The above figures for 1907 show a decrease from last week
of 188,509 bales, a gain of
cess of 298,921 bales over
bales over 1904.
439,976 bales over 1906, an ex¬
1905 and a gain of 1,688,497
AT THE INTERIOR TOWNS the movement—that is,
receipts for the week and since Sept. 1, the shipments
to-night, and the same items for
the
JfVOL.
THE CHRONICLE*
1314
for the week and the stocks
QUOTATIONS FOR MIDDLING COTTON AT OTHER
each
day of the week:
Closing Quotations Jor Middling Colton on
in detail below.
Week ending
May 31.
Galveston
New Orleans
Mobile
Savannah
Charleston
*
'■% 3”; -2
O'
2 p
:«»r
02.
•c » rt
p
i
■3
Monday. Tuesday. Wed'day. Thursd'y.
12%
12%
12 %
11%
11%
11%
11%
11 %
12%
12%
12 5-16
11 %
12 7-16
11%
11%
11 %
12%
12%
11%
11%
11%
11%
13
12.35
13
12.50
13
Philadelphia
12.60
13
12.35
13
12.60
Augusta
12%
12%
12%
Memphis
12
12
12
St. Louis
Houston
Little Rock
12%
12%
11%
12%
12%
11 %
12%
12%
ll5s
13
12.35
Boston
Baltimore
-->04“
Sat'day.
12 Vg
Wllmlntrton
Norfolk
m
12.-46 12.8-43
MARKETS.—Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
corresponding period for the previous year—is set out
the
123^
y
tjfcwewo
CSOI-MJl:
fji
«J>-*An
C'> O ■'I I
-1 3! M * i: y C
cm3
a.
w»-*
May—
Range
Closing—
July—
Range
Closing
August—
Range
Closing—
tN5
CO
OMM
t\3
MI-1
OOCaat^OUMOlOMM
I-1
“J
>-*
COMOM*JM r j tAW>-»-vIC.-i30*J©00©Ci©
©©©©©©©►-‘i-‘©©«vl©©M©©A*>-‘©^l©©Ai.©t\3©r\s©*>J«JAi.>-‘
O' -i O' isiu © botNoblu’w ’© a.Li © aoicscossbiMOcs
©©©©t\S©i-‘M«-‘©^10l©0l©©l-‘©©©-4 0’r\S©lNS^l©©©-l^l©t0
>-* CO *-*
CD >: a. to CO © W OS © CO CO >-»t\3 A. CM CD © 03 00 © © t-» -1 >-» CO t\3 03
’© ©Vi *© ©*© ©
pi I
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CI O '
i
© © © tj A. © t A A. r J I
iconicci
a©«-»© ©
osci©o’
© © tA © © © © © -I t o W © I J t A to t\3 O to
'
MO'iotjowtoAi
t-iOiUos5»o>oioeiwMooosio^aios
I
>->
©
©
5.3
03
ro © ci 03
o 03 os to t o ci t o a. a.
oo
October—
Co
oo 03
ci
Range
Closing—
i—«• I
I
I
I
©i
i
I
»-*
ro~4>-*A»
►-»
to©>-‘
co
©
OOCiAfflO©AC03Ci-‘Ai-‘M
i
I
S3
i_ 00 ©JSJ A- © © A -1 © © Cl Oo © A,©
-a
ci
>-*
L»
*© © *©Vj Vj V1 00
i—
© *© © "© ’»-» Vl co CI to
"-7*05 10
Cl © *©
©*©
w
>-* ©
© i
CA'A
I
©MCI'
©
|©to~J
i
ro As I
©rot
ro
*-»
I-*
I-* >-1
to
Ci ro i-* ro
© A- © I
©to©'
© ci
-.l©'-*ro>-‘©to©©©©ci©As©i-*©©©©©ooto©©©©©
a. to ro'
I
I
—J *—* © c* © © © © *—* © © © © © © © to to ci © ©
© *vt ci»—s A. ro to
©WW©M©*-‘©Ci©A»ro©©ClWCiroAs.W©©00©>-*s-‘H*00©
The above totals show that the interior stocks have de¬
creased
during the week 24,243 bales, and
are
to-night
2,249 bales less than at tIk* same time last year.
The
receipts at all the towns have been 1,052 bales less than
same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.—We give below a statement showing
the overland movement for the week and since Sept. 1,
as made
up from telegraphic reports Friday night.
The
esults for the week and since Sept. 1 in the last two years
are as follows:
-1906-07-
1905-06
Since
Since
May 31-
Sept. 1.
759,301
210,271
80,312
81,413
51,212
423,418
Week'.
1,879
Sept. 1.
492,685
197,134
43,219
96,255
54,769
243,726
.16,060 1,605,927
13,444
1,127,988
1,707
159,535
598
741
173
3,185
93,124
58,719
3,046
138,476
19,431
48,381
5,490
311,378
3,960
206,288
.10,570 1,294,549
9,484
921,700
Week.
.10,021
h ipped—
..
1,558
924
Via Rock Island
ia Louisville
Via Cincinnati
.
1,238
163
.
Deduct shipments—
Overland to N. Y., Boston, Ac
Between Interior towns
.
Inland, &c., from South
.
.
a
2,156
7,232
1,217
495
1,784
837
Including movement by rail to Canada.
The foregoing shows the week’s net overland movement
has been 10,570 bales, against 9,484 bales for the week
last year, and that for the season to date the aggregate
net overland exhibits an increase over a year ago of 272,849
bales.
-1906-07
Week.
Week.
Sept. 1.
9,490,514
1,294,549
1,850,000
77,786
9,484
46.000
Sept. 1.
7,426,996
921,700
1,801,000
.106,083 12,635,063
172,262
_a24,243
133,270
020,491
10,149,696
135,610
Takings.
Receipts at ports to May 31
47,513
Net overland to May 31
Southern consumption to
10,570
May 31. 48,000
Total marketed
Interior stocks In excess
-1905-06—
Since
Since
In Sight and Spinners'
c
112,779
81,840
12,807,325
>1
a
Week—
1905—-June 2
1904—June 3
1903—June 5
1902—June 6
23,751
2,483.831
10,285,306
25,487
2,204,284
Decrease during week.
Movement into
c
®
11.95
—
-!
sight in previous years:
Bales. |
Since Sept. 1—
159,46711904-05—June 2
51,840] 1903-04—June 3.
58,032 |
1902-03—June 5
49,401|1901-02—June 6_
!
© .04 — © — I2.i5-.i7: 12.55
12.02 —11.90 —12.15 —; 12.45
I
—
12.45-.64
—
12.64
—
.11.75-.84 11.74-. 89 11.60-. 80 11.84-.04 12.19-.45 12.20-.48
11.75- .76 11.75-.76-11.72 — 12.02-.03 12.27-. 28 12.38-.39
.
i
I
I
l?.16-.44
12.34-.35
—
'll.80-.03
12.18-.43I12.20-.47
.11.74-.82 11.74-.88'11.59-.78
.11.76-.77 11.74-.75 11.70-.72 12.01-.02 12.26-.27 12.37*.38
Steady, j Steady.
Ba’ly s’y
Steady.
] Very
Easy
sty.
Firm.
Firm.
l
,
Firm.
Very sty. Steady. ! Steady.
indicate that
during the week and that in
the
are
I-* ©
t-1
M
M © © 00 As © ro »-»
ro
the
@ —
© —'11.80-. 02 11.95 —
—11.88-.89 12.25 —! 12.45
I
;
i
12.28-.36 12.09-.27 12.28-.42; 12.54-.79 12.60-.85
12.25-.28 12.18-.19 12.41-.44 12.60-.70 12.78-.80
precipitation has been rather heavy. There
complaints from some localities that the wet weather has
interfered with work and is affecting the crop adversely.
Galveston, Texas.—Excessive rains in Texas have damaged
the cotton crop still further and delayed cultivation and re¬
planting. It is reported that river bottoms are being over¬
flowed.
Start is unusually late and the outlook discourag¬
ing. We have had heavy rain on four days during the week,
the precipitation reaching three inches and ten hundredths.
The thermometer has averaged 75, ranging from 66 to 83.
Abilene, Texas.—There has been rain during the week to
the extent of two inches and twenty hundredths, on four days.
The thermometer has ranged from 48 to 94, averaging 71.
Brenham, Texas.—There has been excessive rain on four
days during the week, the precipitation reaching eight inches
and two hundredths.
Average thermometer 76, highest 90
districts
ro'to i—i 05 A.'© ci
As.
*© ©As. ©As. ©00 to to <1 As.
COt-*C©©©A-4A©©©©AA©SOt\9©©©COSOW©©
ci to ©©to © As. © © © ro © © © © ©© © i-1 © © o
© i-1
© As. ro
ro
-l
©
*"J
12
MARKET.—The highest,
for leading options in the New
past week have been as follows:
rain has fallen in most sections
ro
'
by telegraph from the South this evening
us
SO -J tA p-* © T A © © SO -1 SO i-1 tA O -1 © (A © A © © ■-- SO ©
©Mt\s©©i-‘©so-viA-7©tA©©©©©©©co©>-»co>-‘co©o©©A©>-‘
©
©
13ti
12%
12%
12%
z
WEATHER REPORTS BY TELEGRAPH.—Advices to
©©oo©f\3©ro^i~j©A.coto©©'-‘ro>-*©to*4roooi-‘©ow©^J03roA»o3
03 © © '© Cl
A*- A.
A © <1 © A CO A ©
::::
11.72-.80 11.71-.87 11.57-.77 11.79-.01
.11.72-.73 11.71-.72.il. 67-. 68 11.99-.00 12.24
Spot
Options
A©~JAA©rA©©©©t\S
I
i
—
.
!
©
>-+
i-‘©>-‘Ai-*'-‘©©A<1©A©©
-
.
to
©
© © >-• © •-*
12.50
13 %
13.15
®.00; —
December—
Tone—
oe ro to —* a.
a i
A © © »4 © •— © © © SO I
CO © A *—1 C 03 © os CI 00
I
i-jiii
I
12.25
13
12.75
13
12%
13%
11.90-.00.il.95
•
Range
Closing
January—
Range
Closing
rocii-‘0©cioo©o~4©roroM©03<i©030o©c3oeo3
cc oo a*. --1 -vi ci © ro ci © os © t-11-1 oo © m ro oo ci ro 03 © os ro c 03 ©
03 03 © © © © A* © 03 *—*
© Cl 03 03 © © >—* © Cl © © © Cl Cl 03 © A*
©ci-i
12%
12%
11%
12%
Sal'day, ■ MondayJ Tuesday, Wed'day, Thursd'y. Friday,
May 25.! May 27. May 28. • May 29. May 30. May 31.
S3
i\s i
-Iit.3)MCOycaiOO
©CCA.©'
i.pXC.MOf COOtjMMtOMJ.1
ro>-*
Friday.
11%
12%
11%
11%
11%
12%
12%
12%
11%
—
OPTION
ORLEANS
NEW
lowest and closing quotations
Orleans cotton market for the
©
LXXXTY.
Bales.
12,130,179
9,652,266
-.10.279,530
9,886,855
and lowest 58.
Corpus Christi, Texas.—We have had showers on three days
of the week, the rainfall being fifty-six hundredths of an inch.
The thermometer has averaged 73, the highest being 82 and
the lowest 64.
Cuc.roj Texas.—There has been excessive rain on five days
past week, the rainfall reaching four inches and sixty-
of the
three hundredths.
The thermometer has averaged 77, rang¬
ing from 60 to 93.
Dallas, Texas.- -rWe have had excessive rain on four days
of the week, the rainfall reaching four inches and seventyeight hundredths. The thermometer has ranged from 51 to
85, averaging 68.
Fort Worth, Texas.—The week’s rainfall lias been three
inches and fifty-one hundredths, on four days.
Average
thermometer 69, highest 86 and lowest 52.
Henrietta, Texas.—We have had rain on four days of the
week, the rainfall being one inch and seventy-three hun¬
The thermometer has averaged 70, the highest
dredths.
being 89 and the lowest 50.
Huntsville, Texas.—There has been rain on four days the
past week, to the extent of four inches and fifty hundredths.
The thermometer has averaged 70, ranging from 60 to 79.
Kcrrville, Texas.—We have had rain on four days of the
week, the rainfall reaching two inches. The thermometer
has ranged from 55 to 85, averaging 70.
Lampasas, Texas.—There has been rain on three days of
the week, the precipitation reaching two inches and seventy
hundredths.
Average thermometer 71, highest 88 and
lowest 53.
Lonjview, Texas.—There has been heavy rain on four days
week, the precipitation reaching three inches and
ninety-five hundredths. The thermometer has averaged 72,
the highest being 90 and the lowest 53.
Luting, Texas.—We have had excessive rain on three days
of the week, the precipitation being six inches and sixtythree hundredths.
The thermometer has averaged 74, rang¬
ing from 58 to 90.
of the
1315
THE CHRONICLE
1907.]
June 1
Nacogdoches, Texas.—We have had heavy rain on four days
during the week, the rainfall reaching two inches and seventyseven hundredths.
The thermometer has ranged from 55
to 88, averaging 72.
Palestine, Texas.—Rain has fallen during the week to the
extent of three inches and fifty-eight hundredths, on four
at
a
following brief but comprehensive statement indicates
glance the world’s supply of cotton for the week and
from
since Sept. 1, for the last two seasons, from all sources
which statistics are obtainable; also the takings, or amount
period.
out of sight, for the like
gone
.days.
Bombay receipts to May 30
Other India shlp’ts to May
Alexandria receipts to May
Other supply to May 29.a
a
gloomy. Heavy rains
prevented farm work making much
progress.
The cotton crop is in a critical condition. We
have had rain on four days during the week, the precipitation
reaching one inch and fifty hundredths. The thermometer
has averaged 75, ranging from 59 to 83.
Montgomery, Alabama.—There is a very slight improve¬
ment in the outlook.
Frequent rains are damaging. Crop
We have had rain on four days of the week,
very backward.
the rainfall reaching one inch and sixteen hundredths.
The
thermometer has ranged from 50 to 86, averaging 66.
Selma, Alabama.—Sunshine is badly needed. It has been
cloudy all the week with rain on three days, the precipitation
reaching one inch and thirty-eight hundredths. Average
thermometer 68.5, highest 81 and lowest 50.5.
Madison, Florida.—We have had showers on one day dur¬
ing the week. The thermometer has averaged 77, the high¬
est being 93 and the lowest 61.
Augusta, Georgia.—We are having too much rain. Crops
are small and very late.
There has been rain on five days
of the past week, the rainfall reaching two inches and thirtyone hundredths.
The thermometer has averaged Jl, ranging
Mobile, Alabama.—Crop reports are
in the interior have
from 53 to 86.
Savannah, Georgia.—We have had rain on three days of the
week, the rainfall reaching sixty-six hundredths of an inch.
ranged from 64 to 87, averaging 73.
Charleston, South Carolina.—There has been rain on three
days of the week, the precipitation reaching thirty-two hun¬
dredths of an inch.
Average thermometer 73, highest 86
Receipts at—
received by tele¬
graph, showing the height of rivers at the ports named
of the dates
given:
May 31 1007.
New Orleans
Memphis
Nashvllle
Shreveport.
Vicksburg
_
782,000
428,000
i
Since
■
Sept. 1.
i
Conti¬
nent.
Bombay—
8,000
Since September
49,000
17,000
13,000
1,000
1.000
4,000
1,000
4,000
1,000
1,000
—
Total all—
1906-07
1905-06
1904-05
8,000
1,000
—
-
65,000 2,332,000
1
41,000
17,000
13,000
-
Sept. 1.
Week.
j Sept. 1.
33,000 2,403,000
Conti¬
nent.
Great
Britain.
Total.
Calcutta—
Since
1
Since
Week,
j 2,646,000
Great
Britain.
1904-05.
1905-06.
For the Week.
"...
268,049'12,969,914
1210,449 9,686,914
57,600 3,283,000
i
1
Brazil, Smyrna, West Indies, &c.
1906-07.
1906-07
1905-06
1904-05
3,734,862
MOVEMENT FROM ALL PORTS.
59,000
Exports from—
Total.
953,000 1,012,000
767,000
716,000
313,000
296,000
59,000
51
1.
000
17,000
103,000
92,000
24,000
110,000
5,000
2,000
3,000
2,000
3,000
22,000
36,000
13,000
25,000
38,000
16,000
151,000
113,000
149,000
159,000
126,000
156,000
7,000
97,000
26,000
16,000
8,000
9,000
16,000
9,000
9,000
8,000
13,000
7,000
58,000
29,000
23,000
66,000
30,000
23,000
77,000 1,229,000 1,306,000
71 ,000
957,000 1,028,000
511,000
482.000
29,000
REPORT.—Our cotton acre¬
report will probably be ready about the 4th of June.
Parties desiring the circular in quantities, with their business
card printed thereon, should send in their orders as soon as
possible, to ensure early delivery.
*
OUR COTTON ACREAGE
age
NEW YORK
QUOTATIONS FOR 32 YEARS.
1899.c...
-.12.9:)
.--11.45
8.85
...12.75
...11 .70
1907_c
1906
1905
1904
1903
1902
1901
1900
1898
1897
1896
1895
...
._
..
._
1894
...
...
..
1893
8.25
9.00
..
1892
_.
RECEIPTS
Alexandrla, Egypt,
This week
Since Sept.
Export (bales)
To
—
1
Liverpool
Total
5,862,310
a
I
Sept. 1.
gOOjlOft ,769
11,050|814.612
1
6,144,553
[
1
[ This Since
t
Since
This
week.
■
25,000
2,000
r
Since
2,7501316,549
exports
1904-05.
3,000
6.849,765
2,750 201,817
5,250 190,477
To Manchester
To Continent
To America
SHIPMENTS.
AND
1905-06.
This
week.
—
...
1906-07.
May 29.
Receipts (cantars a)
8.88 1883.C... ...10.75
...12.62 1882
...10.88
...11.12 1881
...11.69
...10.00 1880
...13.00
...11.44 1879
...11.25
9.19 1878
...11.37
...10.94 1877
.-.12.00
...11 .62 1876
6.25 1891_c
6.56 1890
7.62 1889
8.00 1888
7.31 1887
7.25 1886
7.62 1885
7.44 1884
..
..
ALEXANDRIA
Sept. 1. ;
1,000 190,928
160,798
3,000 296,704
500 : 67,869
*
week. Sept. 1.
1,750 201,329
|138.796
3,000 280,144
1,250' 66.397
4,500 716,209;; 6,000 686.606
!
.11
i
A cantar Is 98 lbs.
MARKET.—Our report received by
to-night from Manchester states that the market
is firm
for yarns and quiet for shirtings.
Spinners arc
considered to be well under contract. We give the prices
for to-day below and leave those for previous weeks of
this and last year for comparison.
MANCHESTER
Above zero of gauge.
Above zero of gauge.
Above zero of gauge.
Above zero of gauge.
Above zero of guage.
Feet.
17.3
19.8
0.2
18.0
45.4
June 1
1900.
Feet.
10 8
10.8
.
9.3
13.7
23.4
1906.
1907.
d.
Apr. d.
19
10
26
104
May)
3
10
17
24
31
1
8K Ihs. Shirtings. common
to finest.
32a Cop.
Tiotst.
1
following statement we have also
vo. m.
600
10,000
4,174,838 3,734,862
372,649 14,555,943
207,349 10,900.643
165,300 3,655,300
Week.
Bombay
lowest 51.
at 8
4,174,838
•
1906-07
1905-06.
1904-05
Madras—
1906-07
1905-06
1904-05
All Others—
1906-07
1905-06
1904-05
2,545,470
112,779 10,285,306
33,000 2,403,000
231,000
13,000
cable
Greenwood, South Carolina.—We have had rain on three
daj^s of the week, the rainfall being thirty-seven hundredths
of an inch.
The thermometer has averaged 59, the highest
being 69 and the lowest 49.
Charlotte, North Carolina.—Rain has fallen during the week
to the extent of one inch and fifty-one hundredths.
The
thermometer has averaged 68, the highest being 87 and the
The
18,000
receipts In Europe from
May 30.
The thermometer has
and lowest 59.
300
_
May 31.
Embraces
3,833,532
1,784,156
12,807,325
2,646,000
294,000
913,300
286,000
4,547,487 18,730,781 4,002,911 16,704,776
INDIA COTTON
,
the lowest 44;
17,000
_
Total takings to May 31
Of which American
Of which other
the week,
highest 86 and lowest 51.
Little Rock, A rkansas.—Crop conditions have not improved.
There has been low temperature the past week and excessive
rain, which has retarded growing crops. It is raining now.
There has been rain during the week to the extent of four
inches
on five days.
The thermometer has ranged from
52 to S3, averaging 68.
Helena, Arkansas.—Farmers are discouraged at the un¬
favorable conditions.
We have had showers on five days
during the week, the precipitation reaching three inches and
fifty-eight hundredths. The thermometer has averaged 66,
ranging from 52 to 84.
Memphis, Tennessee.—The weather has generally been
unfavorable—too wet and cold nights.
The crop is very
backward and needs warm dry weather.
Rain has fallen on
five days during the week to the extent of one inch and ten
hundredths, and it is raining now.
Average thermometer
65.1, highest 79.2, lowest 48.3.
Nashville, Tennessee.—We have had rain during the week,
the rainfall reaching ninety-three hundredths of an inch.
The thermometer has averaged 64, the highest being 84 and
30.
29.
Total supply..
76.
Leland, Mississippi.—We have had rain on six days during
the rainfall reaching one inch and eighty-seven
hundredths.
The thermometer has ranged from 47 to 82,
averaging 63.7.
Vicksburg, Mississippi.—There has been beneficial rain
on five days during the week, the precipitation reaching two
Average thermometer 68,
inches and ten hundredths.
81,840
67,000
31
Season.
Week.
Season.
Week.
4,363,347
Visible supply May 24
Visible supply Sept. 1
American In sight to May
Deduct—
Visible supply
1905-06.
1906-07.
Cotton Takings.
Week and Season.
'
■
Paris, Texas.—There has been rain on five days during the
week, to the extent of three inches and thirty hundredths.
The thermometer has averaged 68, the highest being 85 and
the lowest 50.
San Antonio, Texas.—There has been heavy rain on four
days of the past week, the rainfall reaching twofinches. The
thermometer has averaged 73, ranging from 58 to 88.
Weatherford, Texas.—There has been rain on six days dur'ing the week, to the extent of three inches and two hun¬
The thermometer has ranged from 51 to 90, aver¬
dredths.
aging 71.
Ardmore, Indian Territory.—Heavy rains on Tuesday and
Wednesday. Cotton prospects much worse. Weather too
cold.
Replanting made necessary.
New Orleans, Louisiana.—There has been rain on four days
during the past week, the precipitation reaching four inches
and forty-six hundredths.
The thermometer has averaged
COTTON.—
WORLD’S SUPPLY AND TAKINGS OF
The
@
@
s.
114 6
11H 6
d
9®
Upl'8
d.
9
10
d.
d.
6.28 9
6.39 84
9 11
10 0
10 0
10 0
6.63i84
s.
84 @
Corn
Mid
9
9
d.
@
@
@
6 10
114 6 10 4
11W 6 11
UK 611
11
W
(ft
10W
10 15-16@12Mi7 00
1
@
@
@
<a
8
®
®
104 6
10W 6
®
@
®
&
@
10W
10W 6
10W 6
10W 6
6
r
10 M
10 W
10 4
84 /&». Shirtings. common
to finest.
324 Cop.
Twist.
@10 1K
6.75 9
6.96 94
7.10 94
7.40 9,4
10W|0
d.
W @9
6 4 @9
64 ®9
o
s.
Upl'S
d.
74
74
74
-
64 @9
7
@9
74 ®9
74 @9
Coen
Mid
74
8
9
9
d.
6.04
0 07
.
6.08
6.18
16.26
0.20
6.02
1316
THE CHRONICLE
SHIPPING NEWS.—As shown
exports of cotton from the
reached 50,112 bales.
on
previous page, the
a
United States the past week have
The shipments in detail, as made
telegraphic returns, are as follows:
from mail and
up
Total bales.
NEW YORK—To Liverpool—May 29—Celtic, 2,017
To Manchester—May 29—Camoens, 881
To Bremen—May 24—Brandenburg, 1,535
—
To
881
.May
27—Bre¬
2,046
230
778
511
men,
To
2.017
Hamburg—May 25—Pennsylvania, 230
Antwerp—May 25—Zeeland, 778
—
To Lisbon—May 25—Hannah M. Bell, 200
200
To Genoa—May 27—Moltke, 1
May 28—Lulslana, 200
201
To Venice—May 27—Eugenia, 464
464
To Trieste—May 27—Eugenia, 100
100
To Fium —May 27—Eugenia, 380
389
GALVESTON—To Havre—May 29—Monomoy, 7,630
7,630
To Bremen—May 25—Hannover, 1,687
May 28—Santanderino. 6,290...
7,977
To Hamburg—May 29—Aphrodite, 2,543
2,543
To Antwerp—May 29—Monomoy, 850
850
NEW ORLEANS—To London—May 30—Etonian. 110
110
To Rotterdam—May 25—Irak, 118
118
To Antwerp—May 25—Irak, 50
50
To Genoa—May 30—Soperga, 2,608
2,608
MOBILE—To Hamburg—May 29—Kronborg, 92
92
SAVANNAH—To Liverpool—May 28—Sierra Blanca, 5.264
5,264
To Hamburg—May
—Elswlck Grange. 1,722
May 28—
Sierra Blanca, 160
1,882
To Rotterdam—May 24—Lincluden, 62
62
NEWPORT NEWS—To Hamburg—May 27—Artemisia, 776
776
BOSTON—To Liverpool—May 24—Michigan, 866
March 27—
—
Ivemia, 48
To Manchester—May 24—Caledonian, 200
•_
BALTIMONE—To Liverpool—May 24—Quernmore,
To Havre—May 28—Murcia, 26
To Bremen—May 28—Wittekind. 773
914
200
4,879
26
4,879
773
387
PHILADELPHIA—To Rotterdam—May 11—Euxinfa, 387
SAR FRANCISCO—To Japan—May 24—Mongolia. 2,247
SEATTLE—To Japan—May 25—RIojun Maru, 3,368...
To China—May 25—RIojun Maru, 50
2,247
3,368
50
Total
50,112
The
particulars of the foregoing shipments for the week,
arranged in our usual form; are as follows:
Great French GerBritain.
ports. many.
New York
Galveston
New Orleans..
Mobile
Savannah
10,520
7,630
Boston
Baltimore
Total.
Japan.
&c.
1,354
7,306
19,000
2,608
2,886
-
26
92
7,208
62
1,882
1.114
4,879
.
776
776
773
1,114
5,678
387
-
.
South.
92
5,264
.
Newport Hews
San Francisco.
Seattle
Total
North.
778
850
168
no
_
Philadelphia
—Oth.Europe— Mex.,
2,276
2,898
_
-
-
----
.14.265
-
—
7,656 16,319
2,247
50 3,368
—
—
2,245
387
_
,
3,962
50
LIVERPOOL.—By cable from Liverpool
5,615
2,247
3,418
50,112
have the fol¬
lowing statement of the week’s sales, stocks, Ac., at that port:
May 10.
Sales of the week
bales.
50,000
Of which speculators took.
2,000
Of which exporters took
2,000
Sales. American
42.000
3 0,000
Actual export
Forwarded
82,000
Total stock—Estimated
3 ,246,000
Of which American—Est.. 3,3 3 8.000
Total import of the week
327.000
Of which American
3 3 0,000
3 80,000
Amount alioat
Of which American
333,000
May 37.
42,000
May 22.
13,000
900
500
-
■
.
3 .200
38.000
10,000
.
<
900
1 .000
24,000
13,000
69.000
1
,222,000
1,095,000
78,000
69,000
320,000
3 ,089,000
76,000
55.000
3 80.000
122.000
336,000
89,000
The tone of the Live rpool market
a oh day of the past
week and the
May 33.
31,000
3 ,000
31,000
4,000
60,000
3 ,226,000
55,000
1 .23 3,000
3 ,083,000
32.000
20,000
.
we
65 ,000
for spots and
daily closing prices of
futures
spot cotton have been as follows:
Saturday.
Spot.
Monday.
Tuesday.
JXUtl.
Dull.
! Wrd’day.
Thursday.
Friday.
Dull.
Moderate.
demand.
1
Market,
32:15
P.M.
Mid Apr<3*
H
<)
L
Saiev
Spec.
Dull.
;
7.13
7.OS
7 05
7.29
5,000
30< i
4.000
300
5.000
5.000
500
300
1
Futures.
8,000
]>
SUady ’0
Steady at
A
opened
7 A9 in¬
deed ne.
7 (a 8 pits.
5'
Dull
at
Irreu
1 'a / pt>.
decline.
decline.
at
pis.
Steady at
(jfii S pts.
:
1 2 fa 1 5
j
adv.
i
advance.
I
Market
Sl y at
! ■■
dee. '• ■
pt.
4
P. M.
prie<
b< low.
priuus
-s
rjir*
are
—
12
to
May 31.
in pence and 10Of/*.
n
M a y •J U lie
J urn* .3 ui>
July A
Au v.
Sept
■
UK
H
Sep |
<)
L
J
Get..
Get. Nov.
Nov. Dec.
Dec Jan
Fcti
Jan
Feb
M eh
Meii. Apr.
.
Mon.
1
-
6
6
6
6
Jj
A
6
6
6
6
♦;
y
«,
6
6
.
--
Thus- 6 03
lues.
’
B’ly st’y at
A (u 3 pts.
decline.
6 63 100d.
menus
4
12 ' J
4
3 2 q
4
!
Tliurs.
.
-
Fri.
i-
-
12 q
4
■
2S
24
22
q 21
22
A 23
I^
V.
!•.
%
A
12 q.
4
wheat
Hour
59 12 •> 5
65 A 78 % 84
90 1 2
78
57 A 59
83 1 /Y 89!$ 8o
54% 65
48
48 % 4 4
54 A 66% 78
78
69
50 < $ 63 A 69
75 q 67
49 A 44 A 40
34
4o y. 55
30
59 q 67
33
58
26 1$ 28
23 A 35
50
53 q 61 q 53
17
30
45
48 q 55
47
39% 23
18
14
27
42 % 45 q 53
44
3 6
35 1
J 4
16
12
1J
44
51 q 42
3 1
15
4 3
50 J. 41
3 3
24.% 40
16
12
25 »$ 4!
4 4
5i q 42
14
17
13
26 A 42
45
62 q 43
3 5
have
moved
within
q
q
0$
has
West, Southwest and Northwest have not been without
their effects, though the precipitation in Kansas has not been
so great as could be desired.
There has been at times a
pretty good export demand, and this wnuld have been larger
but for the fact that prices here have been getting out of line
with those of Europe.
Prices are now some 10 to 19 cents
higher on futures than the)'' wore a year ago. Liverpool
prices are nearly 10 cents higher than a year ago, Berlin 10
cents, Paris 12 and Buda Pesth nearly 30 cents.
Some are
therefore beginning to ask wdiether bad crop conditions are
not for the present at least pretty well discounted, especially
as the weather has improved not only in this country but
also in South Russia and Roumania, where beneficial rains
Of late foreign houses have been selling futures
have fallen.
here quite freely, and there has also been considerable liqui¬
dation on the part of American operators both here and all
The world’s shipments, too, continue on a
over the West.
very large scale, and the flour trade at the Northwest is dull.
Some reports from Nebraska are that there will be at least
75% of an average crop. Other reports from various parts
of the belt are that the damage has been more or less exag¬
gerated. Seeding has been completed at the Northwest,
and, as already intimated, the weather conditions there are
more favorable, wdiile it appears from some reports that the
acreage in that section has not been reduced as m uch as wras
recently expected at a time,when weather conditions w’ere
especially forbidding. As the case now stands, the outlook
for the crop is better.
Howr much damage has actually
been done by winter killing and other adverse conditions
the future must determine.
That the damage to the winter
wheat crop, however, has been exaggerated is probably
true, and there is also a chance that the spring-wheat yield
may in a measure makeup for the deficiency of that in wflnterwheat.
To-day prices again advanced in spite of better
weather in this country, "crop reports from the Balkan
Peninsula being in the main unfavorable ami further specu¬
lative buying setting in.
Besides, there was some export
demand.
,
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW
Sat.
M on.
04%
105 .q
May delivery In elevator. 105 %
•July delivery In elevator. 106%
Sept, delivery In elevator 106 %
105 q
107 q
107 q
No. 2 red winter
3
DAILY CLOSING PRICES OF
Sat.
Tues.
103
■i 03 q
105
105
YORK.
Thurs.
Fri.
103 %
Hol-
1* 05 \\
day.
1 05
%
WHEAT FUTURES IN CHICAGO
Mon.
May delivery In elevator. 98 q
July delivery In elevator. 100 q
Sept.delivery in elevator. 101 %
Wed.
103
104
105
105
q
Yx
102 q
99
101
Tues.
96 q
Wed.
96 q
Thurs.
Fri.
.98 q
98 i;
Holi¬
99%
99
%
day.
97%
99%
100%
Indian corn futures have advanced on unfavorable weather
and crop reports from many sections.
Commission houses
have bought freely at times, owing to the belief that corn has
not had its full share of the advance.
Pit traders have given
support and shorts have covered. At,tones setbacks have
on
realizing, but there has been an absence of
selling pressure for the decline, owing to the continued small¬
of contract stocks and the fear of bull manipulation.
Within a day or two planting has made better headway as a
result of more favorable weather, but there still remains
much planting to be done and the crop in most sections is
getting a late start. To-day prices advanced oil the rise in
wheat., ;i firm cash market, reports of an increased export
inquiry, commission house buying and covering.
DAILY CLOSING PRICES OF NO. 2
C'avii
eorn
MIXED CORN
Sat.
61
.
May delivery In elevator
.July delivery In elevator.
63 q
61 h
•
CLOSING
......
PRICES
May delivery In elevator
July delivery in elevator
September delhcry In elevator..
OF
-
Mon.
64
6i q
62
CORN
Sat.
54 q
53 %
53 %
-
FUTURES
Mon.
54 q
53 U
53 %
Tins.
51 q
53 q
53
NEW YORK.
IN
Fri.
64 q
Wed. Thurs.
64
Roll
64
day.
61 q
'lues.
6 1
64
61 q
62
q
CHICAGO.
IN
Fri.
53 q
Wed Thurs.
5i q
-53%
53 q
53%
Mollday.
53%
delivery in the Western market have shown
more or less
irregularity, but in the; main the tone* has been
strong, owing to unfavorable weather and crop reports.
Many reports of damage; to the crop by dry w'enther and in¬
have bee;n in eireulation.
Commission houses have
Ixs'ii good buyers and shorts have covered.
Bull manipula¬
tion of July has been u feature.
The* selling has been conlined mainly to profit-taking.
The cash marked has been
firm with a good shipping demand at' the West..
To-day
sects
price s advanced, owing to the* strength of other cereals, '
eoveuing of shorts, bull manipulation and buying by com¬
mission houses
a
JHG7.
DAILY
narrower
but the Oranges have been to a large extent, of a
merely nominal character, the trading having con tin tied on
an extremely narrow Male.
Buve s have refused to follow
rang**,
Wheat*, although active, excited and rising at times
felt the effects of better weather and realizing.
Prices have
on the whole declined.
Rains and warmer weather in the
Oats for future
58
/•’ruin//, May HI
for
prices have been repoited, but new orders have been small.
Some of the mills have refused to consign flour to the local
market at prevailing prices.
Corn meal and rye flour have
been quiet and steady.
---
BREADSTUFFS.
Pj'iee.v.
in
DAILY
p rn. p.m. p.rn. p in. p.m.-p.m. p mJp.m. p in.
d.
d.
d.
d.
d.
d.
d. i d.
d.
63
68
62 U 67 A
57 •>
52 11
47 !
36 A 4) A
29 A 36
22
1 9
17
J 5
3 6
37
Wed.
-
12; 1
p.m.
d.
p.m. p in.
d.
d.
May
S*eady at
17 1 $
i9
pt.*-. adv.
|
3 2.',
4
p - / 9 q
pt.-. :.d v.
fut
Sat.
May 25
at
ires a* Liverpool for each day are given
are on th*
basis of Uplands, Good Ordinary
otherwise s’-uG-d.
s o!
Prices
.Claes'', uni*
I irrn
at
0!-$ 6; 9
pt.-. dec.
!•$ pt. ad\.
1 he
Tin
Quiet
the recent advance in prices.
In some cases holders have
sold their supplies at prices lower than those -ruling in the
market.
But as a rule the transactions have been confined
At the large milling centres further advances
to small lots.
ness
i ,000
1
Ma rket
LXXXIV
occurred
7.40
\
[Vol.
on
unfavorable crop reports.
CLOSING
Hut.
PRICES
Mon.
OF
'I
OATS
ties.
IN
NEW
\Veil.
YORK.
Thurs.
Fri.
Mixed, 26
to 32
lbs
49
White clipped, 36
to 38 lbs
52 54
..
49
!-j
52 ! $ - 54 %
49f$
52% 54 %
50
52 %-5t %
lie,11
day.
50<&50%
52 q
<&55
DAILY CLOSING PRICES OF
'
c-
following
47 **
48*8
48 l4
39 y*
-47 *4
.47
**
.39*8
39 ?/$
September delivery in elevator
The
NO. 2 MIXED OATS IN CHICAGO.
Fri.
Sat.
Sat. Mon. Tues. Wed. Thurs.
.47
*s
47 **
May delivery in elevator
July delivery in elevator
47**
38**
47 H
48 **
48**
49 **
39**
Hull
day.
39*8
closing quotations:
are
FLOUR.
grades
Second clears
Low
Clears
..
.
Straights
Patent, spring
Patent, winter
Kansas patents
$3 35 <§)$3
3 00 ® 3
4 00 @ 4
4 90 ® 5
5 40 ® 6
4 85 ® 5
>4 75 @$5 00
3 85 @ 4 25
70 Kansas straights
25 Kansas clears
7* Blended patents
201 Fly# hour
10 Buckwheat ilour
10 Graham flour
5 80 ® 6 20
4 50 ® 4 75
Nominal
Nominal
f
3 15® 3 25
Cornmeal
GRAIN.
Wheat, per bush.—
N. Duluth, No. 1
N. Duluth, No. 2
Red winter, No. 2..
|Corn, per bush.—
No. 2 mixed..
c.
112*4]
f.o.b. Ill**
f.o.b. 10***
f.o.b. 108**
Hard
“
“
Oats—per bushel—
No. 2 white
No. 2 mixed
No. 2 white, dipped
..
52 ®53
50 ©50**
52 ** @55
f.o.b.62**
f.o.b.64
84
Nominal.
Nominal.
Nominal.
Barley—Western
Feeding
REPORT.—
WEATHER
WEEKLY
GOVERNMENT
c.
f.o.b.64**
No. 2 yellow, new
No. 2 white, new
Rye, per bush.—
No. 2 Western
State aad Jersey
Mr. James Berry, Chief of the Climate and Crop Division of
the United States Weather Bureau, made public on Tuesday
the telegraphic reports on the weather in the various States
for the week ending May 27, summarizing them as follows:
In the northern districts eastward of the Rocky Mountains, and especially
In the Lake region, upper Ohio Valley, northern part of the Middle Atlantic
States and New England, the weather during the week ending May 27 was
Freezing temperatures occurred In
unseasonably cold and unfavorable.
the middle and northern Rocky Mountain regions, and from the upper
Missouri Valley eastward to northern New England, and In the higher por¬
tions of the Middle Atlantic States, and Injurious frosts In the central
In the Southern
valleys and as far south as western North Carolina.
Central Gulf
States generally favorable temperatures prevailed, but the
districts suffered from excessive rains.
Unusually heavy rains
in the upper
Missouri Valley and northern Rocky Mountain
also occurred
region.
There
Wyoming and northern Utah on the 24th.
a heavy fall of snow In
In the lower Missouri, central
was
Mississippi and lower Ohio valleys and In
South Atlantic and East Gulf States, there waa abundant sunshine;
generally cloudy weather prevailed In the lower Lake region and In
the
but
the
Generally favorable weather conditions prevailed
upper Missouri Valley.
the Pacific Coast, with
gon and California.
on
somewhat less than the average sunshine In Ore¬
For other tables usually given here, see page
THE DRY GOODS
1286.
TRADE.
Friday Night, May 31 1907.
May has disclosed irregular conditions in
New York,
The month of
1317
CHRQNICLE.
THE
June 1 1907. j
dry goods market. At first hands there has been uni¬
strength with the exception of temporary weakness in
yarns and heavy brown cottons, more than recovered as
the month advanced.
The demand has varied somewhat,
but appears to have been at all times in excess of supplies
available for quick distribution and frequently fuller than
manufacturers were willing to accommodate for forward
delivery. In all divisions of the primary cotton goods
market the average of prices is higher than it was a month
ago.
The results with jobbers for the month have hardly
the
form
been markedly disappoint¬
by tlit' latter has been
seriously affected by the abnormally late season in all
descriptions of merchandise for spring and summer trading.
up to expectations and have
ing with retailers. Distribution
come
announced this week in
feature, and further advances are
with advances of f^c. per yard in prominent
strong,
are
prominent lines. Coarse, colored cottons
of the more
some
makes of denims, tickings, eottonades, &c., and the market
has an upward tendency for various descriptions of napped
cotton fabrics.
Printed calicoes are in steady request and
firm,but business in higher grade* printed fabrics has
only. The new demand coming forward for
ginghams and other woven pattern cotton dress goods is
quiet, but current production is almost entirely taken care
of by the ordeis in hands of manufacturers.
Kid-finished
cambrics, silcsias and other converted linings are well sold,
and,with the upward tendency in gray goods, are moving
against buyers. Regular print cloths have been advanced to
a nominal quotation of
4 13-lfie. without business being
done.
The advance, however, is justified by the fact that
28-inch G4x(i0s have been sold at 4 11-lGc.
Wide goods
continue strong on the basis of 7c. for 38^-inch 04 squares.
WOOLEN GOODS.—Interest in men’s wear woolens and
worsteds for the new? spring season has been stimulated this
week by the opening up of a number of important staple
lines, chief of which were the American Woolen Company’s
clay worsteds and serges. The priees named on these are,
as a rule, lower than those quoted a year ago for medium
and lower grades, the average of the w'hole showing a slight
decline.
These new prices indicate that some of the ad¬
vantages gained since the spring opening of a year ago have
not been retained in spite of the fact that raw material and
other items of cost in manufacture are higher now than then.
The openings of the lines referred to have been followed by
an increase in business for next spring season, but at the
same time orders have not
come forward with sufficient
freedom to show that buyers are yet sure of the situation,
very
been moderate
make
than usual.
and it would appear as though manufacturers must
up their minds to face a demand longer drawn out
Re-orders for fall lines in men’s wear fabrics have been of
restricted extent.
There is no improvement in the over¬
coatings division, business continuing generally unsatisfac¬
tory.
Woolen and worsted dress goods have disclosed no
new feature of moment since last report, business proving
generally quiet in both staple and fancy lines.
FOREIGN DRY GOODS.—This division has been quiet
throughout during the past week. Woolen and worsted
dress goods have been ordered in moderate quantities with¬
out noticeable change in prices, and business in piece silks
mid ribbons has disclosed no new features.
Orders for quick
deliveries of linens have been more for the completion of old
contracts than in shape of new business, but the market still
rules strong.
Burlaps are in indifferent supply with a steady
demand at firm prices.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending April
<5 1907 and since
Jan. 1 19e7, and for the corresponding periods of last year ,
follows:
as
are
M
2*
o
improvement during the curr< nt week, but there has been an interruption, owing to the
holiday, and, taken throughout, only moderate results can
be reported.
Owing to the strength of the cotton market,
the week closi s with considerable indisposition on the part
The weather has shown some
.
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of manufacturers to commit themselves to any extent to
forward engagements, while to-day it is stated that offois of
contracts well into next year for brown and gray goods have
been put forward more liberally than on preceding days
the week.
Important openings of men’s wear woolens
worsteds for next spring this week show that the average
of prices on all but the linest grade goods will
than a year ago.
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Xciv York to May 25—
Great Britain
Other European
China
ludla
Arabia.
Africa
West Indies
Mexico
Central America..
South America.
Qtlu r countries
Week.
18
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51
187
381
275
...2,448
10,043
4,539
18.75,3
3,597
9.767
1.005
6.482
19,228
13,946
88.849
The value of these New York enxporls
73
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$5,047,722 in 1907, against §7,571,100 in 1905.
The' tendemey of prices in this division is steadily against
buyers, as even where open advances are' not queried sellers
a’K* growing more exacting in their elenmnds.
Heavy brown
sheetings and drills are j-s to 14 up from some prices accepted
early in (he month, in spite* e>f the fact that tin* market still
lacks the support of export buying of any account, and
cot tern yams, which also displayed’ considerable* weakness
at the* opening Of the* month, show at the* close quite an
upward tendency. The change' has been elue in some part
to the extent of buying, but
more* directlv te> the strong
advance in the* market for raw material.
In all grades of
bleached cottons scarcity of ready supplies continues the
-
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Jan. l.
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be
goods from this port for the week ending May 25 wore* 2,4-IS
packages, valued at §155,090, their destination being to the
points specified in the table4 below:
Since
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DOMESTIC COTTON GOODS.—The exports
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Qity liEfftrrMEflT.
State
News Items.
Companies Amended.—The Assembly on May 28 passed
the amendment to the tax law relative to investments in
State bonds by savings banks, trust companies and insurance
ance
companies. By this amendment these institutions get a
credit of 1% per annum on holdings of State bonds bearing
3% interest. The bill is now before the Governor.
The text of this bill will be found in last week’s issue of the
“Chronicle,”
on page 1210, among
Bankers and Trust Companies.”
Portchester,
N.
Y.—Law
the “Items about Banks,
Regarding
Interest
Rate on
May 23
signed the amendment to Section 5 of Chapter 517 of the
Laws of 1899.
The amendment constitutes Chapter 361 of
the Laws of 1907, and empowers the Board of Trustees of the
village of Portchester, in issuing bonds in the future for the
paving or macadamizing of streets, &c., to fix the rate of
interest at not exceeding 5%.
Under the old law bonds
issued for these purposes could be put out at not exceeding
4% interest per annum.
Bonds Legalized.—-Chapters 144 and 159 of the Laws of
1907 legalize the Acts and Proceedings of the Board of Vil¬
lage Trustees with reference to the issue of bonds for the
drainage of certain streets and avenues and for the im¬
provement of Traverse Avenue.
South Carolina.—Interest on Stolen Bonds Stopped.—The
State Treasurer, acting upon the advice of the AttorneyGeneral, gives the following notice regarding the payment of
interest on bonds stolen from the State- Treasury:
Future Street Bonds Amended.—The Governor
OF
SOUTH
EXECUTIVE
CAROLINA,
OFFICE OF STATE TREASURER
on
DEPARTMENT,
Columbia. May 16 1907.
NOTICE.
To Whom it May ConcernNotice Js hereby elven that Interest will not be paid on July 1 next on
bonds below described, which were stolen from the State Treasury, to wit:
Redemption Brown consol 4 ^ % bondf of the denomination of $500,
Nos. 153, 231, 371. 783, 959 and 1,477.
Redemption Brown consol 4 Yi % bonds of the denomination of $1,000—
567, 1,178, 1,899, 2,525 and 3,778.
Persons who purchase said bonds or the coupons thereof will do so at
their
own
risk
(Sinned)
R. H. JENNINGS,‘State Treasurer.
J.H.
According to the Charleston “News and Courier,” the total
amount of bonds stolen was 812,500, consisting of thirteen
bonds of 8500 each and six bonds of 81,000 each.
Seven of
the 8500 bonds, however, and one of 81,000, were exchanged
for certificates
of stock before the theft was discovered.
informed by the State Treasurer that the bonds re¬
ferred to were stolen during the period from 1896 to 1901,
and tl^at not more than 82,000 was taken at any one time.
We
are
Bond Calls and Redemptions.
Animus County (Colo.) School District No. 1.—Bond Call.
—Call was made for payment May 25 of bonds Nos. 7 and 8
dated July 1 1892.
Denomination 81,000.
Pittsburgh, Pa.—Luckey Sub-School District.—Bond Call.
—Payment will be made July 1 at the West End Savings
Bank A Trust Co. in Pittsburgh of bonds numbered 1, 2 and
3 and dated July 1 1891.
Denomination 8500.
Bond Proposals and Negotiations this week
baye been as follows:
Adairville, Logan County, Ky.—Bond Election Post¬
poned.—We are informed that the election which was to
have been held April 30 to vote on the question of issuing
the 86.000 6% electric-light bonds mentioned in V. 84, p.
1010, has been postponed indefinitely.
Adams County (P. O. Decatur), Ind.—Bond Sale.—On
May 21 an issue* of 84,280 4)4% Root Township macadamroad bonds was awarded, it is stated, to J. F. Wild & Co.
of Indianapolis for 84,288—the price thus being 100.186.
Denomination 8214.
Date May 15 1907.
Interest semi¬
annual.
Addyston, Hamilton County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. June 18 by W. T. Cole¬
man, Village Clerk, for 83,000 5% highway-improvement
bonds.
Authority, Section 2835 of the Revised Statutes
of Ohio.
Denomination 8500.
Date May 1 1907.
Interest
semi-annually at the Hamilton County Nat.*Bank of Cleves.
Maturity May 1 1917. Certified check for 1% bonds bid for,
payable to the Village Treasurer, is required. Accrued in¬
terest to be paid by purchaser.
Allegheny, Allegheny County, Pa.—Bond Sale.—Reports
state t hat on May 30 the $250,000 4% 30-year coupon streetimprovement funding bonds described in V. 84, p. 1261, were
awarded to Lawrence Barnum & Co. of Pittsburgh at 100.007.
Bonds Not Sold.—No sale was made of the $1,000,000 4%
registered reservoir and water-main bonds offered on the
same day.
See V. 84, p. 1261.
Alliance School District (P. O. Alliance), Boxbutte County,
Neb.—Bond Sale.—This district has awarded the 820,000 5%
20-year high-school-building bonds mentioned in V. 84, p.
950, to John Nuveen A Co. of Chicago.
ucxxnr
Alpine School District (P. O. Alpine), Brewster County,
Texas.—Bond Election.—An election will be held in this dis¬
trict to vote on the question of issuing $20,000 5% 40-year
school-house bonds.
_
New York State.—Tax Law Relative to Investments in
State Bonds by Savings Banks, Trust Companies and Insur¬
STATE
[Vol.
THE CHRONICLE.
1318
,
Township, Athens County, Ohio.—Bond Offering.—
Proposal will be received until 1 p.m. to-day (June 1) by
S. R. McCune, Township Clerk (P. O. Amesville), for $1,000
4% bonds. Authority, Section 2835 of the Revised Statutes
Ames
of Ohio.
Denomination $500.
Date June 1 1907.
semi-annual.
Maturity $500 on June 1 in each of
190S and 1909.
Interest
the
years
Antigo, Langlade County, Wis.—Bond Offering.—Pro¬
posals will be received until 2:30 p. m., Aug. 1, by G. O
Palmiter, City Clerk, for $10,000 4)4% refunding bonds.
Maturity $2,000 yearly on July 1 from 1922 to 1926 inclusive.
Certified check for 5% is required.
Attica School District No. 61*(P. O. Attica), Harper
County, Kan.—Bond Sale.—We are advised that the $6,500
4)4% coupon school-building bonds described in V. 84, p.
950, have been purchased by the State School Fund Com¬
mission at par.
Aurora School District
(P. O. Aurora), Hamilton County,
Offering.—Proposals will be received until 7:30
p.m. June 14 by Frank A. Burt, Secretary of the Board of
Education, for the $43,000 4% coupon school-building bonds
mentioned in V. 84, p. 950.
Date July 1 1907. Interest
annual.
Maturity July 1 1927, subject to call after July 1
1917.
Certified check for $500 is required.
Bay City, Bay County, Mich.—Bonds Not Sold.—No award
was made on May 27 of the $200,000 4% 30-year public-park
bonds described in V. 84, p. 1194.
Bemidji Independent School District (P. O. Bemidji)
Beltrami County, Minn.—Bond Sale.—On May 27 the
$35,000 5% 15-year coupon high-school-building bonds
described in V. 84, p. 1195, were awarded to the Wells &
Dickey Co. of Minneapolis for 836,300 (103.714), accrued
Neb.—Bond
interest and blank bonds.
Berlin, Ont.—Bond Sale.—On May 16 this town awarded
883,000 (not 883,200 as reported in last week’s issue) 4)4%
street-railway-purchase bonds to Aemilius Jarvis & Co. of
Toronto at 96.50.
Denomination 81,000.
Date April 15
1907.
Interest annually on April 1.
Maturity part }rearly
for
thirty
years.
Man.—Debenture Offer¬
ing.—Proposals will be received until June 8 for $2,600 6%
Binscarth School District No. 606,
school debentures.
Denomination $130.
Date June 15 1907.
Interest annually Jan. 1 at the Northern Bank of Binscarth.
R. B. Johnston is Secretary and Treasurer.
Bloomville School District (P. O. Bloomville), Seneca
County, Ohio.—Bond Offering.—Proposals will be received
until 12 m. June 7 by C. O. Snyder, Clerk Board of Education,
for $10,500 4)4% coupon schoolhouse-improvement bonds.
Authority Section 3991, Revised Statutes. Denomination
Date June 14 1907.
Interest March 1 and Sept. 1
$500.
at the office of the Treasurer of School Funds.
Maturity
$500 yearly on Sept. 1 from 1908 to 1928 inclusive.
Bonds
are tax-exempt.
Assessed valuation $240,000.
Bogota (P. O. Hackensack), Bergen County, N. J.—Bonds
Voted.—This borough on May 24 authorized the issuance of
$20,000 street-improvement bonds by a vote of 27 to 14.
Details of bonds and date of sale not yet determined.
Boise City, Ada County, Idaho.—Bond Offering.—Pro¬
posals will be received until 12 m. June 11 by John M.
Haines, Mayor, at the City Clerk’s office, for $50,096 6%
gold coupon lateral sewer-improvement assessment bonds.
Authority an Act of the State Legislature, 1905. Denomina¬
tions ton bonds for $509 60 each and ninety bonds for $500
each.
Date' July. 1 1907.
Interest semi-annually at the
City Treasurer’s office or at the Chase National Bank of New
York City.
Maturity $5,009 60 yearly on July 1 from 1908
to 1917 inclusive.
An unconditional certified check for 5%
of bonds bid for, payable to the city of Boise, is required.
Official circular states that there is no litigation pending or
threatened affecting the validity of these bonds and that the
city has never defaulted in the payment of any of its obliga¬
tions.
Boston, Thomas County, Ga.—Bonds Not Yet Sold.—This
village is still in the market with the $10,500 electric-light and
$12,000 water-works 5% registered bonds mention of which
was made in V. 84, p. 950.
Brewster, Putnam County, N. Y.—Bond Offering.—Pro¬
posals will be received until 11 a. m. June 5 by Richard
Miehell, Village Clerk, for $50,000 registered water-works
bonds at not exceeding 5% interest.
Denomination $1,000.
Date July 1 1907.
Interest annually at the First National
Bank of Brewster or New York City.
Maturity $2,000
yearly on July 1 from 1912 to 1936 inclusive. Certified
check for 2% of bonds bid for, payable to the Village Treas¬
urer is required1.- 'The village* has no debt at present.
Bronxville, Westchester County, N. Y.—Bond Sale.—On
May 24 the $2,030 registered sewer-extension bonds described
in V. 84, p. 1261, were awarded to the Gramatan National
Bank of Bronxville at par for 4)48.
Bids for 4 24% bonds
were also received from the Eastchester Savings Bank and
W. V. Lawrence.
Bucyrus School District (P. O. Bucyrus), Crawford Coun¬
ty, Ohio.—Bonds Voted.—At the election May 15 the propo-
Jume
the $17,500 school-building bonds, mentioned
in V. 84, p. 1134, was carried by a large majority.
Buffalo, Erie County, N. Y.—Bond Sale.—On May 25 the
$500,000 4% 50-year registered water-works bonds described
in V. 84, p. 1195, were awarded to N. W. Harris & Co. of
New York City at 100.275 and accrued interest—a basis of
about 3.988%.
This was the only bid received.
Bond Issue.—The issuance of $52,500 4% 1-5-year (serial)
tax loan fund bonds has been authorized.
Securities are
dated July 1 1907.
Under the ordinance providing for these
bonds they are to be taken at par by the Park Bond Re¬
demption Sinking Fund.
Bullitt County (P. O. Shepherdsville), Ky.—Bond Offering.
—Proposals will be received until 12 m. June 25 for $25,000
43^% road bonds. Denominations: twenty bonds of $100
each, twenty bonds of $500 each and thirteen bonds of $1,000
each.
Date June 1 1907.
Interest semi-annually at the
Fidelity Trust Co. of Louisville. Maturity $5,000 in five
years, $3,000 in seven years, $5,000 in ten years, $6,000
fifteen years and $6,000 in twenty years, the last lot being
subject to call after fifteen years. J. F. Combs is Com¬
sition to issue
Miss.—Bond Offering.—
the offering on June 4
$30,000 water-worksplant-construction and the $30,000 street-improvement 5%
coupon bonds mentioned in V. 84, p. 1195.
Proposals will
be received until 8 p. m. on that day by W. M. Purnell, City
Denomination $100 and $1,000. Date June 1 1907.
Clerk.
Interest semi-annually at place designated by purchaser.
Maturity $100 yearly on June 1 from 190S to 1926 in¬
clusive and $88,100 on June 1 1927.
Certified check for 2%
in
missioner.
bond offering will be found among
in this Department.
Caldwell, Noble County, Ohio.—Bond Sale.—On May 25
the $11,000 5% 5%-year (average) coupon street-paving
bonds described in V. 84, p. 1134, were awarded fo the
Security Savings Bank & Trust Co. of Toledo at 103.5-2 and
Following are
accrued interest—a basis of about 4.303%.
The official notice of this
the advertisements elsewhere
the bids:
Sec.Sav.Bk.&Tr.Co., TOl.a$l 1,387
Otis & Hough, Cleveland all,375
a
501 Hoehler&Cummlngs, Tola$ll,367
00|W. J. Hayes & Sons, Cle_ all,061
50
00
And Interest.
Canaanville), Athens County,
Offering.—Proposals will be received until 1
p. m. to-day (June i) by E. B. Hoskinson, Township Clerk
(P. O., R. F. D. No. 4, Athens), for $1,000 5% road-imrovement bonds.
Authority Section 2835 of the Revised
tatutes of Ohio.
Denomination $500. Date June 1 1907.
Interest semi-annually in Athens.
Maturity $500 on June 1
Canaan
Township (P. O.
Ohio.—Bond
1909 and $500 on
June 1 1911.
Ohio.—Bonds Authorized.—On
May 6 the City Council passed an ordinance providing for the
issuance of $4,600 4% coupon storm-water-sew^r bonds.
Date
Denomination $1,000, except one bond for $1,600.
July 1 1907. Interest semi-annual. Maturity July 1 1917.
Carlton County School District No. 2, Minn.—Bond Sale
On May 25 this district awarded an issue of $20,000 4%
school-building bonds to the State of Minnesota at par.
Date July 1 1907.
Interest annual. Maturity part yearly
Canton,
1319
THE CHRONICLE.
11907.]
Stark County,
1924 inclusive.
Charlotte, Monroe County, N. Y.—Bond Sale.—On May
20 the $10,000 1-10-year (serial) electric-light bonds and the
$8,000 1-16-year (serial) water-works bonds
84, p. 1195, were awarded to W . N. Coler A Co. of
City for $18,068 (100.377) for 4^s.
Chatfield Township (P. O. Chatfield), Crawford County,
from 1912 to
described in V.
New York
Ohio.—Bond Offering.—Further details .are. at
to the offering on June 11 of the $10,000 5%
hand relative
coupon
pike-
V. 84, p. 1262.
Glarksdale,
Coahoma County,
Further details are at hand relative to
of the $30,000 school-building, the
required.
Clay County (P. O. Moorhead), Minn.—Bond Sale.—This
county has disposed of $12,000 ditch bonds to the State of
Minnesota at par for 3s.
Securities are dated March 5 1907.
Interest annually on July 1.
Maturity on July 1 as follows:
$5,000 in 1912, $3,000 in 1913, $2,000 in 1914, $1,000 in 1915,
$500 in 1916 and $500 in 1917.
Clay Township (P. O. Brookville), Montgomery County,
of bid is
Ohio.—Bond
12
m.
Offering.—Proposals will be received until
Charles S. Prass, Township Clerk, for
June 20 by
$15,000 5% coupon road-improvement bonds. Authority,
Section 2835 of the Revised Statutes of Ohio.
Denomina¬
tion $1,000.
Date July 1 1907. Interest March 1 and Sept.
1 at the Citizens’ Banking Co., in Brookville. Maturity
$1,000 yearly on Sept. 1 from 1912 to 1926 inclusive.
Certified check on a national bank or trust company for 5%
of bonds bid for, payable to the Township Trustees, is re¬
quired.
Cleveland Heights, Ohio.—Bond Offering.—Proposals wii
be received until 12 m. June 4 by W. G. Phare, Village Clerk;
at the Fairmount Post Office in said village, or at his office,
No. 204 American Trust Building, Cleveland, for the follow¬
ing bonds:
$6,090
% coupon Fairmount Boulevard water-improvement assessment
Ma¬
bonds.
Denomination $300. except one bond for $99.
turity $99 on Oct. 1 1908, $500 yearly on Oct. 1 from 1909 to
1912 Inclusive. $1,000 on Oct. 1 1913, $500 on Oct. 1 1914,
$1,000 on Oct. 1 1915, $500 on Oct. 1 1916 and $1,000 on
Oct. 1
7,044
1917.
% coupon Fairmount Boulevard sewer-construction assessment
bonds.
Denomination $500, except one bond for $44.
Ma¬
turity $44 on Oct. 1 1908, $500 on Oct. 1 1909, $500 on Oct. 1
1910, $1,000 on Oct. 1 1911. $500 on Oct. 1 1912, $1,000 on
Oct. 1 1913, $500 on Oct. 1 1914, $1,000 on Oct. 1 1915 . »
$1,000 on Oct. 1 1916 and $1,000 on Oct. 1 1917.
961 4H % coupon
portion)
$461 on
Fairmount Boulevard sewer-construction
bonds. Denomination $461 and $500.
Oct. 1 1913 and $500 on Oct. 1 1917.
(village's
Maturity
semi-annually on April 1 and
Treasurer. Certified check
for; payable to the Village
Treasurer, required.
Purchaser to pay accrued interest.
Cortlandt Union Free School District No. 8 (P. O. Cortlandt), Westchester County, N. Y.—Bond Offering.—Pro¬
posals will be received until 10 a.m. June 12 by the Board of
Education for $50,000 bonds.
Rate of interest to be named
in
bids.
Denomination $500. Maturity $2,000 yearly
from 1908 to 1932 inclusive.
A. D. Dunbar (P. O. Peekskill)
Date day of sale.
Interest
Oct. 1 at the office of the Village
for 10% of amount of bonds bid
Superintendent.
official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Covington, Ga.—Bond Election.—We are informed that an
election will be held in this city to vote on the question of
is
The
issuing $60,000 water-works and public-improvement bonds.
Covington, St. Tammany Parish, La.—Bond Offering.—
until 8 p. m., June 17, by C. Z.
$30,500 5% school bonds. Denomina¬
tion $500.
Maturity $500 on March 30 1908, $500 on March
Revised Statutes.
Denomination $500. Date June 1 1907. 30 1909, $1.000 on March 30 1910, $2,500 on March 30 1911,
Interest March land Sept. 1. Maturity $1,000 on Sept. 1 1917,
$2,500 on March 30 1912, $3,500 on March 30 1913, $4,000
$500 on March 1 1918, $1,000 on Sept. 1 1918, $500 on March on March 30 1914, $4,500 on March 30 1915, $5,500 on March
30 1916 and $6,000 on March 30 1917.
1 1919 and $1,000 each six months from Sept. 1 1919 to Sept.
1 1922 inclusive.
Certified check (or cash) for $100, pay¬
Covington, Tipton County, Tenn.—Bonds Voted.—This
able to the Township Treasurer, is required.
Accrued inter¬ town on May 7 authorized the issuance of $15,000 sewer
est to be paid by purchaser.
bonds by a vote of 153 to 40.
Cheboygan School District (P. O. Cheboygan), Cheboygan
Cuyahoga County (P. O. Cleveland),Ohio.—Note Offering.
County, Mich.—Bond Offering.—Proposals will be received Proposals will be received until 11 a.m. June 5 by the
until June 5 by the Board of Education for $24,000 5% 15County Commissioners for $3,610 5% Northfield Road
year bonds.
Denomination $1,000. Ernest St. John is improvement notes. Authority, Section 4637-9 of the Re¬
Secretary of the Board of Education.
Denomination $190. Date June 1 1907.
vised Statutes.
Chester, Delaware County, Pa.—Bond Sale.—On May 29 Interest April 1 and Oct. 1 at the office of the County Treas¬
Maturity $190 each six months from Oct. 1 1907 to
the $200,000 4% 10-30-year (optional) coupon refunding urer.
Certified check for $500 required.
bonds described in V. 84, p. 1195, were awarded to N. W. Oct. 1 1916 inclusive.
Halsey & Co., of Philadelphia,at par and accrued interest. Purchaser to have notes prepared at his own expense.
This was the only bid received.
Dallas, Dallas County, Texas.—Bonds Voted.—The elec¬
Chicago, Ill.—Lincoln Park District.—Bond Sale.—We are tion held May 21 resulted in favor of the propositions to issue
advised that the $500,000 4% 20-year coupon small-park the $500,000 water-works-improvement, $100,000 streetbonds described in V. S4, p. 1262, were disposed of on May 24.
improvement and $50,000 public-school-building bonds men¬
Cincinnati, Hamilton Co., Ohio.—Bonds Not Sold.—No bids tioned in V. 84, p. 1067.
Dallas County Common School District No. 82., Tex.—
were received on May 20 for the $540,000 3.65% 30-year
coupon Gilbert Avenue Viaduct bonds described in V. 84, Bonds Registered.—On May 22 the State Comptroller regis¬
tered $1,700 5% school-house bonds.
p. 1011.
Bond Sale.—Reports state that the $25,000 20-year Fifth
Deal, Monmouth County, N. J.—Bond Sale.—We have
Street Market and the $35,000 40-year street improvement
just been advised that the $75,000 4^2% sewer-system
3.65% coupon bonds offered on the same day (V. 84, p. 1011) bonds voted on Feb. 2 (V. 84, p. 463) were awarded in March
were awarded to the German National Bank of Cincinnati
to the Provident Institution for Savings of Jersey City at par
for $25,003 (100.012) and $35,005 (100.014) respectively.
Denomination $1,000. Date Jan. 1
and accrued interest.
Cincinnati School District (P. O. Cincinnati), Hamilton 1907. Interest semi-annual. Maturity Jan. 1 1917.
County, Ohio.—Bonds Not Sold.—No bids were received on
Decatur, Adams County, Ind.—Bond Sale.—On May 21
May 27 for the $250,000 3.65% 40-year coupon public- $6,500 4% 7-year refunding bonds were awarded to the Old
school-improvement bonds described in V. 84, p. 1011.
road-improvement
bonds mentioned in
H.
Proposals will be received until 12 m. on that day by J.
Brown, Township Clerk.
Authority Sec. 2835, 2836 and 2837,
Proposals will be received
Williams, Mayor, for
1320
Adams County Bank of Decatur for
thus being 100.492.
Denomination
1907.
Interest semi-annual.
THE CHRONICLE.
$(>,532 04, the price
$500. Date July 1
Denison, Grayson County, Texas.—Bonds Proposed.—
According to local papers, arrangements are being made for
the issuance of bonds for water-works.
[VOL.
LXXXIV.
4y2% 5-10-year (optional) school-building bonds described
in V. 84, p. 1263.
Proposals are again asked for these
securities and will be received until 2 p. m. June 5.
Fort Bend County (P. O. Richmond), Texas.—Bond Elec¬
tion.—An election will be held June 25 to vote on the ques¬
tion of issuing $75,000 court-house, $30,000 Brazos River
bridge and $5,000 Bernard River bridge bonds.
Fort Collins, Larimer County, Colo.—Bond Sale.—On
May
20 this city awarded $47,080 5% 10-15-vear (optional) bonds
building bonds mentioned in V. 84, p. 10(57. The vote was dated May 21 1907 to the Colorado Investment & Realty Co.
157 to 7.
Maturity $1,000 yearly. Date of sale not yet of Colorado Springs at par. Interest semi-annual.
determined.
Fremont, Sandusky County, Ohio.—Bon$ Sale.—On May
Dunkirk, Chautauqua County, N. Y.—Bond Sale.—On 28 the $1,845 4^o% sewer-construction bonds described in
May 18 this city awarded $8,451 40 4% bonds to the Lake V. 84, p. 1196, were awarded, it is stated, to the Croghan
Shore National Bank of Dunkirk at par and accrued interest.
Bank & Savings Co. of Fremont for $1,889—the price thus
Denomination $2,000, except one bond for $151 40.
Date being 102.384.
May 10 1907. Interest annual. Maturity part yearly for
Gaffney School District No. 10 (P. O. Gaffney), Cherokee
five years.
County, S. C.—Bond Sale.—On May 25 the $25,000 5% 20Durham County (P. O. Durham), N. C.—Bonds De¬ year gold coupon
school-building bonds described in V. 84,
feated.—The election held May 7 resulted in the defeat of the p. 1135, were awarded to E. H. Rollins & Sons of Chicago
proposition to issue the $300,000 road-improvement bonds at 103.364 and accrued interest—a basis of about 4.738%.
mentioned in V. 84, p. 765.
Galt School District, Man.—Debenture Sale.—On May 15
Eagle River, Vilas County, Wis.—Bond Sale.—On May 13 the $2,200 5% 20-year debentures described in V. 84, p.
$24,000 5% 1-12-year (serial) electric-light bonds dated 1012, were awarded to the Canadian Life Assurance Co. of
May 10 1907 were purchased by E. H. Rollins & Sons of Winnipeg at 99 and accrued interest. A bid of 98 was also
Chicago. Interest semi-annually at the First National received from Nay, Anderson & Co. of Regina.
Bank, Chicago.
Girard, Trumbull County, Ohio.—Bond Offering.—Pro¬
East Lake (P. O. Birmingham), Jefferson County, Ala.— posals will bo received until 12 m. June 10
by E. L. Hauser,
Bond Offering.—Proposals will be received until June 20
by Village Clerk, for the $30,000 4p2% coupon sewer-disposalW. J. Martin, Mayor, for $100,000 5% gold coupon street- works and trunk-sewer bonds mentioned in V.
84, p. 1196:
improvement bonds. Authority, an Act of the Legislature Authority Sections 2835 and 2837 of the Revised Statutes of
approved March 5 1907. Denomination $1,000. Interest Ohio. Denomination $500. Date June 10 1907. Interest
annually or semi-annually at place to suit purchaser. Ma¬ semi-annual at the First National Bank of Girard. Maturity
turity ten years. Bonded debt, at present, $20,000.
yearly on June 10 as follows: $500 from 1908 to 1911 in¬
East Liverpool, Columbiana County, Ohio.—Bonds Au¬ clusive; $1,000 from 1912 to 1923 inclusive; $1,500 from 1924
thorized.—The City Council on April 9 passed ordinances pro¬ to 1931 inclusive and $2,000 in each of the years 1932 and
1933.
Certified check on some bank of Trumbull County for
viding for the issuance of the following bonds:
5% of bonds bid for, payable to the Village Treasurer, is
$862 39 5 % coupon Thompson Avenue improvement bond.
Ill 94 5% coupon Munroe Street improvement bond.
required. Accrued interest to be paid by purchaser.
672 64 5 % coupon Third Street improvement bond.
Girard School District (P. O. Girard), Trumbull
County,
Date, May 1 1907. Interest semi-annually at the City Ohio.—Bond
Sale.—Wo have just been advised that this
Treasurer’s office.
Maturity May 1 1912.
district on March 6 awarded an issue of $2,500
5% 30-year
Edina School District, Knox County, Mo.—Bonds Not school-building bonds to the Security
Savings Bank & Trust
Sold.—No award was made on May 15 of the $18,000 4%
Co. of Toledo.
Denomination $500.
Date March 1 1907.
5-20-year (optional) school bonds described in V. 84, p. 1012. Interest semi-annual.
Grand Rapids, Kent County, Mich.—Bond
Elkins, Randolph County, W. Va.—Bond Election.—An
Offering.—
election will be held June 15 to vote on a proposition to issue
Proposals will be received until 4 p. m., June 20, by John L.
20-year bonds in the denomination of $1,000, for the purpose Boer, City Clerk, for the following bonds, mention of which
of building two new school houses.
was made in V. 84,
p. 1263:
$15,000 coupon sewer-construction bonds.
Maturity $3,000 yearly on
Ely School District No. 1 (P. O. Ely), White Pine County,
May 1 from 1908 to 1912 Inclusive.
Nev.—Bond Offerin'!.—Proposals will be received until 12 m.
255,000 coupon street-Improvement bonds.
Maturity $51,000 yearly on
May 1 from 1908 to 1912 Inclusive.
June 3 by Allen C. Bragg, Clerk of the Board of School Trus¬
Denomination $1,000.
Date May 1 1907.
Interest semi¬
tees, for $35,000 6% coupon school bonds. 'Authority an
Act of the Legislature approved March 28 1907.
Denomi¬ annually at the City Treasurer’s office. An unconditional
nation $1,000 and $1,250.
Interest June 15 and Dec. 15 at certified check for 3% of bonds bid for, payable to the City
the County Treasurer’s office in Ely.
Maturity $1,000 each Treasurer, is required. Accrued interest to be paid by pur¬
Dover School District (P. O. Dover), Morris County, N. J.
—Bonds Voted.—The election held May 7 resulted in favor-of
the proposition to issue the $35,000 4p2% high-school¬
six months from Dec. 15 1907 to June 15 1912 inclusive and
$1,250 each six months from Dec. 15 1912.to June 15 1922.
Bonds
exempt from taxation. Certified check for 10%
of bid, payable to the Board of School Trustees, is required.
Total debt this issue.
Estimated value $(500,000.
Emporia School District (P. O. Emporia), Lyon County,
Kan.—Bond Offering.—Proposals will be received until 8
p. m. June 3 for $8,000 school-building-completion bonds
at not exceeding 5% interest.
Authority vote of 1,603 to
508 cast at election held April 2.
Maturity 20 years, subject
to call after 10 years.
M. N. Clark is Clerk of the Board of
are
Education.
Encinal School District, Santa Clara County, Cal.—Bond
Sale.—On May 20 the $6,000 6% 5-16-year (serial) coupon
school bonds described in V. 84, p. 1012, were awarded to the
Bank of San Jose at 114 and accrued interest—a basis of
about 4.327%.
Following are the bids:
Bank of San Jose, San Jose.$6,840 00 Chas. B. Younger Jr__$6,555
First Nat. Bank. Oakland. 6,813 60 First Nat. Bank, San Jose. 6,531
Wm. R. Staats Co., Pasad. 6,556 00 First Nat. Bank, Barnesv..O 6,251
Wm. E. Keith
at,080
a For $1,000 bonds.
00
95
00
85
8£Essex County (P. O. Salem), Mass.—Note Offering.—Pro¬
posals will be received until 11 a.in. June 3 by Moody Kim¬
ball and James C. Poor, County Commissioners, for tin* dis¬
count of $200,000 notes.
Authority, Chapter 466, Acts of
1903.
Date June 1 1907.
Maturity Dec. 1 1907.
Eustis School District (P. O. Eustis), Frontier County,
Neb.—Bond Offering.—Proposals will be received until June
10 by John Pickering, Moderator, for the $10,000 5% coupon
school-building bonds voted on March 18. Denomination
$500.
Date April 1 1907.
Interest annually at the County
Treasurer’s office.
Maturity $5,000 on April 1 1912 and
$1,000 yearly on April 1 from 1913 to 1917 inclusive.
Cer¬
tified check for 5%, payable to John Pickering, Moderator,
is required.
Bonded debt, this issue.
Farwell School District (P. O. Farwell), Clare County,
Mich.—Bond Sale.—This district recently disposed of an
issue of $8,000 building bonds.
Fonda Independent School District (P. O. Fonda), Poca¬
hontas County, Iowa.—Bonds Not Sold.—Bond Offering.—
No satisfactory bids were received on May 27 for the $19,000
chaser.
Greeley, Weld County, Col.—Bond Sale.—On May 21 the
$25,000 10-15-year (optional) coupon city-hall bonds de¬
scribed in V. 84, p. 1012, were awarded to J. L.
Bush,
President of the Greeley National Bank, at par
and accrued
interest for 5s.
Other bids were received but we are in¬
formed that they were not considered, as the bidders failed
to enclose certified cheeks.
Greenfield, Greene County, Ill.—Bonds Voted.—An elec¬
May 23 resulted, by a large majority, in favor of a
proposition to issue $7,000 concrete-walk-construetion bonds.
Greenville, Hunt County, Texas.—Bond Sale.—This city
recently awarded the $40,000 4]/2% 1-40-ycar (serial) sowersystem bonds voted on April 30 to H. N. Swain at a price
above par.
Denomination $1,000. Interest semi-annual.
Gulfport, Harrison County, Miss.—Bond Offering.—Pro¬
posals will be received until 8.30 p. m. July 2 by N. D.
Goodwin,City Clerk,for $18,000school-house bonds and $4,000
jail-building 5% coupon bonds. Authority Section 3419 of
tion held
the1
Mississippi,Code of 1906. Denomination $100 or $1,000.
Maturity July 1 1927. Certified check for
10% of bonds bid for, payable to the ‘‘City of Gulfport,” is
Interest annual.
equired.
Hagerstown, Washington County, Md.—Bond Sale.—This
city recently awarded an issue of $5,000 4% drainage bonds
to local parties at par.
Denomination $500. r Date May 14
1907.
Interest January and July.
Maturity from 1920 to
1922 inclusive.
-
Halifax, Nova Scotia.—Debeiiture Offering.—Proposals will
m. June 25
by W. L. Brown, City Treas¬
urer, for the following debentures: $75,000 for pavements,
$150,000 for sidewalks, $70,000 for improving fire-depart¬
ment, $1.35,000 for water-extension, $50,000 for sewerage,
$95,588 for schoolhouses, $125,000 for loan to Silliker Car
Works and $122,500 for street-extension and various
pur¬
poses.
The securities will be 4% coupon debentures of
$1,000 each or inscribed stock certificates of multiples of
$100.
Authority Chapters 60 and 65 of the Acts of Nova
Scotia of 1906 and Chapters 67, 70 and 71 of the Acts of
1907.
Interest semi-annual.
Maturity July 1 1940. Ac¬
crued interest to be paid by purchaser.
be received until 12
June 1
THE CHRONICLE
1907.1
Harrington, Lincoln County, Wash,—Bonds Voted—On
May 18 this city authorized the,issuance of the $22,000 water-
of
system bonds mentioned in V. 84, p. 1130, by a vote
98 to 48.
Details of bonds and date of sale not yet decided.
Hartwell, Hart County, Ga.—Bonds Voted.—At the elec¬
tion held May 20 this town voted in favor of the proposition
to issue the $20,000 5% gold school-house bonds mentioned
in V. 84, p. 1197.
Denomination $1,000. Date July 1
1907.
Interest semi-annual. Maturity $1,000 yearly on
July 1 from 1917 to 1936 inclusive.
Hastings, Barry County, Mich.—Bonds Not Yet Sold.—
No sale has yet been made of the $13,000 4% paving bonds
offered but not sold on April 3.
See V. 84, p. 953.
Hico, Hamilton County, Tex.—Bonds Registered.—The
State Comptroller on May 21 registered $8,000 5% 15-40year
(optional) water-works bonds dated Jan. 1
1907.
Hillyard School District No. 122, Spokane County, Wash.
—Bond Sale.—On May 18 $25,000 5% building and funding
bonds were awarded to E. H. Rollins & Sons of Chicago.
Hollidaysburg School District (P. O. Hollidaysburg),
Blair County, Pa.—Bond Offering.—Proposals will be re¬
ceived until 7 p. m. June 11 by J. T. Leet, Secretary of School
District, for $20,000 4% coupon school bonds. Denomina¬
Date July 1 1907. Interest semi¬
tions $100 and $500.
annually at the District Treasurer’s office. Maturity July 1
1927, subject to call after July 1 1917.
Certified check for
10%, payable to Dr. J. R. Humes, Treasurer, is required.
Total debt at present, $1,000.
Assessed valuation, $1,496,384.
Holly, Oakland County, Mich.—Bonds Voted.-—This vil¬
voted in favor of a proposition to issue $30,000
water-works bonds. The vote was 327 “for” to 10 “against.’’
Hopkins County Common School District No. 1, Tex.—
Bonds Registered.—The State Comptroller on May 24 regis¬
tered $474 5% school-house bonds of this district.
Huntingdon, Carroll County, Tenn.—Bonds Voted.—An
election held May 25 resulted in favor of a proposition to
issue’s 10,000 5% street-graveling bonds.
The vote was 130
lage recently
“for” to 63
“against.”
Date of sale not yet
determined.
(P. O. Inter¬
national Falls), Itasca County, Minn.—Bonds Voted.—An
election held May 17 resulted in favor of a proposition to
issue $15,000 4% school-building bonds.
The vote was 21
“for” to 1 “against.”
Bonds mature in five, ten and fifteen
We are informed that application has been made to
years.
International Falls School District No. 4
the State for this loan.
Iowa School District, Sonoma County, Cal.—Bond Sale.—
On May 10 the County Treasurer awarded $2,200 5%
of this district to the Santa Rosa National Bank of Santa Rosa
at 103.238.
Following are the bids:
Santa Rosa Nat. Bk.. San R$2,271 25| Wm. R. Staats Co.. Los A.$2,228 00
American Sav. Bk., Los A. 2,26;') 001 Union Trust Savings Bank,
Santa Rosa
Merchants’ Tr. Co., Los A. 2,253 75(
2,226 75
Margaret M. GIbbons___-_ 2,250 00| Los Angeles Tr. Co.. Los A_ 2,225 00
bonds
Lee’s
Summit School District, Jackson
1341
County, Mo.—
May 10 the $20,000 4% 5-20-year (optional)
school-building bonds described in V. 84, p. 954, were dis¬
posed of at 102.255—a basis of about 3.506% to the optional
date and about 3.838% to full maturity.
Lestershire, Broome County, N. Y.—Bond Sale.—On May
27 the $8,500 5% 4-20-year (serial) registered or coupon
water-works extension bonds described in V. 84, p. 1264,
Bond Sale.—On
were
disposed of for $8,524.60 (100.289) and
basis of about
accrued interest
4.96S%.
Lima, Livingston County, N. Y.— Land Sale.—On May 23
this town awarded an issue of $15,000 registered town-house
building bonds to the Rochester Savings Bank of Rochester
for $15,010 (100.066) for 4l£s.
This issue is authorized by
—a
Chapter 259, Laws of 1907. Denomination $1,000. Date
May 1907. Interest Feb. 1 and Aug. 1 at the Bank of
Lima in New York exchange.
Maturity $1,000 yearly on
Feb. 1 from 1908 to 1922 inclusive.
Total debt, this issue.
Assessed valuation $1,723,850.
Lincoln County (Wash.) School District No. 18.—Bond
Sale.—The County Treasurer
on
April 20 awarded
$2,500 3-5-year (optional) refunding bonds of this district
to Coffman, Dobson & Co. of Chehalis at 100.64 for 5? oS.
Denomination $1,000.
Date May 1 1907. Interest annual.
Little Falls School District (P. O. Little Falls), Morrison
County, Minn.—Bond Sale.—This district recently awarded
an issue of $20,000 refunding bonds to the State of Minne¬
sota at par and accrued interest for 4s.
Securities are dated
July 1 1907. Interest annual. Maturity $10,000 in 1917
and $10,000 in 1922.
Lcckport, Niagara County, N. Y.—Bond Offering.—Pro¬
posals will be received until 12 m. June 10, by B. M. Hutche¬
son, City Treasurer, for $60,000 4% water-supply bonds.
Authority, Chapter 99, Laws of 1907. Denomination
$1,000.
Date June 10 1907. Interest June 1 and Dec. 1
at the City Treasurer’s office.
Maturity $2,000 yearly on
Dec. 1 from 1907 to 1936 inclusive.
Certified check for 2 %
of bonds bid for payable to the city is required.
Bonds will
be delivered at the. City Treasurer’s office on June 20.
Lorain, Lorain County, Ohio.—Bonds Authorized.—The
City Council on May 20 passed an ordinance providing for
the issuance of $20,000 4}.4% coupon Everett Street im¬
provement assessment bonds. Authority Sections 2705,
2706 and 2707, Revised Statutes, and Sections 53, 95 and
97, Municipal Code.
Denomination $1,000. Date June 1
1907.
Interest March 15 and Sept. 15 at the Chase National
Bank in New York City.
Maturity $1,000 each six months
from March 15 1908 to Sept. 15 1917 inclusive.
Lorain School District (P. O. Lorain), Lorain County,
Ohio.—Bond Sale.—This district recently awarded an issue
of $17,500 4% 18-year coupon school-improvement bonds
to
the Sinking Fund Commission of the City of Lorain.
Denomination $500.
Date May 21 1907. Interest February
and August at the Chase National Bank of New York Cit\T.
Bonds mature in 1925 and are tax exempt.
Madison County (P. O. Jackson), Tenn.—Bonds Voted.—
An election held May 25 resulted in favor of a proposition to
Ironton, Lawrence County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. June 25 by F. A. Ross,
City Auditor, for $16,000 4% coupon refunding bonds.
Au¬
thority Section 1536-283 of the Revised Statutes. ’De¬ issue $200,000 good-road bonds.
nomination $1,000.
Madisonville School District (P. O. Madisonville), Hamil¬
Date July 1 1907. Interest semi¬
annually at the National Park Bank of New York City. ton County, Ohio.—Bonds Defeated.—The election held May
Maturity July 1 1927. Certified check for $100, payable to 11 resulted in t he defeat of the proposition to issue the $100,the City Treasurer, is required.
Accrued interest to be 000 school-building bonds mentioned in V. 84, p. 1069.
paid by purchaser.
Manor, Westmoreland County, Pa.—Bond Offering.—Pro¬
Jasper County (P. O. Paulding), Miss.—Bond Sale.—We posals will be received until 7 p. m. June 3 by P. M. Cline,
have been advised that the $35,000 5% 5-20-year (optional)
Secretary of the Borough Council, for the $26,000 5% coupon
coupon court-house and jail bonds offered on May 6 (V. 84,
paving and curbing bonds mentioned in V. 84, p. 1069.
p. 953) were awarded to the Wm. R. Compton Bond A
Authority, an Act of the General Assembly, approved April
20 1874.
Denomination $1,000.
Date June 3 1907. In¬
Mortgage Co. of Macon at a price above par.
Jefferson, Ashtabula County, Ohio.—Bonds Not Sold.—No terest June 1 and Dec. 1 at the Manor National Bank of
Maturity $1,000 yearly on June 3 from 1913 to
sale was made on May-27 of the $40,000 4% coupon water¬ M an or.
1927 inclusive, the remaining $11,000 bonds being redeem¬
works bonds described in V. 84, p. 1136.
Jefferson City, Cole County, Mo.—Bids Rejected—Bond able at the option of the borough between the years 1928
and 1932.
Certified cheek for $500, pa}'able to the Borough
Offering.—All bids received on May 22 for $44,000 4% coupon
Treasurer,
is
required. Bonds are free from State tax.
renewal bonds offered on that day were rejected.
Proposals
Mansfield,
Richland
County, Ohio.—Bond Sale.—On May
are
again asked for these bonds and will bo received this
the
25
time until 6 p. m. June 3.
twenty
issues
of 4% and 5% bonds, aggregating
Denomination $500. Date July
1
1907.
Interest semi-annually at the City Treasurer’s $59,550, described in V. 84, p. 1069, were awarded to the
office.
Maturity ten years. Certified check for $250 is Richland Savings Bank Co. of Mansfield for $59,696 30
(100.245) and accrued interest. A bid of $59,682 15 w'as
required. George N. Winston is City Clerk.
also received from the Citizens’ National Bank of Mansfield.
Joplin School District, Jasper County, Mo.—Bond Sale.—
are dated June 1 1907.
This district recently awarded the $50,000 4% 10-20-vear Bonds
Marengo County (P. O. Demopolis), Ala.—Bond Election.
(optional) school-building bonds offered without success on
April 25 (V. 84, p. 1068) to the First National Bank of Joplin —Local papers state that an election will be held Aug. 10 to
at par and accrued interest.
Bonds are dated May 1 1907. vote on the question of issuing $100,000 50-vear bridge and
Kanawha, Hancock County, Iowa.—Bond Sale.—We are road-improvement bonds at not exceeding 5% interest.
Marshall, Lyon County, Minn.—Bond Election.—Local
advised that the $5,000 water-works bonds voted on April 25
(V. 84, p. 1197) have been disposed of.
papers state that an election will be held June 11 to vote on
a
proposition to issue $30,000 funding and electric-lightKelliher, Beltrami County, Minn.—Bond Sale.—On May 20
plant-improvement bonds.
an issue of $5,000 6% bonds was awarded to W. II. Roberts
<ff Bemidji at par.
Martinsburg, Berkeley County, W. Va.—Bonds Voted.—
Following are the bids:
An election held May 27 resulted by a large majority in
W. H. Roberts, Bemid ji
par I Commerelal
Investment
Co..
S. A. Kean, Chieapo
Duluth
ftpar favor of a proposition to issue $50,000 school-building and
.apart
a Less $200.
improvement bonds.
h Less cost of printing and legal fees.
Medford, Middlesex County, Mass.—Temporary Loan.—
Lawrence, Essex County, Mass.—Bids Rejected.—All bids
This
city recently negotiated a loan of $25,000 with Blake
received on May 27 for the $75,000 4% 1-30-year (serial)
Bros.
Co. of Boston at 4.57% discount.
Loan matures
coupon Osgood Street sewer bonds described in V. 84, p.
in nine months
1264, were rejected.
r
Memphis, Shelby County, Tenn.—Bond Sale.—On May 29
$551,000 4^% 30-year coupon Flippen compromise
refunding bonds described in V. 84, p. 1198, were awarded,
it is stated, to the Manhattan Savings Bank & Trust Co. of
Memphis and MacDonald, McCoy & Co. of Chicago at 102.28
Miamisburg, Montgomery County, Ohio.—Bond Sale.—
On May 24 the $13,000 4% 1-13-year (serial) coupon Linden
the
Avenue
sewer-construction
bonds
described in
V. 84, p.
1198, were awarded to N. J. Catrow of Miamisburg for
$13,010 (100.076) and accrued interest. This was the only
offer received.
Milwaukee, Milwaukee County, Wis.—Bond Sale.— Post¬
poned.—We are informed that the sale of the three issues of
bonds aggregating $450,000 which was to have
coupon
taken place on May 28 has been postponed until to-day
(June 1). For description of these securities see V. 84,
1264.
Morgan County (P. O. Jacksonville), Ill.—Bond Offering.
—Proposals will be received until 2p.m. June 8 by James S.
Merrill, County Clerk, for $100,000 4% registered court-house
refunding bonds. Authority, an Act of the General Assem¬
bly approved Feb. 13 1805 and Acts amendatory thereto
approved April 27 1877 and June 4 1879, and an election
held April 30 1907.
Denomination $1,000. Date June 15
Interest annually at the State Treasurer’s office in
1907.
p.
Springfield.
Maturity $5,000 yearly
on
June 15 from 1908
to 1927 inclusive.
Certified check for 5% of bid, payable
to the County Treasurer, is required.
The official circular
states that there is no litigation or controversy pending or
threatened concerning the validity of these bonds.
Mount Vernon, Knox County, Ohio.—Bond Offering.—
Proposals will be received until 12 m., June 24, by Stephen
Dorgan, City Auditor, for the following bonds:
J.
$3,000 5 % coupon Madison Street sewer bonds mentioned in V. 84, p. 955.
Authority Section 100, Municipal Code.
Denomination $300.
Maturity $300 yearly on May 1 from 1908 to 1917 inclusive.
17,000 5 % East High Street (city’s portion) paving bonds.
Authority
Section 100, Municipal Code.
Denominations: twenty bonds
of $500 each and numbered 1, 3, 5, 7, 9, 11, 13, 15, 17, 19,
21. 23, 25. 27, 29, 31, 33, 35, 37 and 39, and twenty bonds of
$350 each numbered 2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 24,
26. 28, 30. 32, 34, 36, 38 and 40.
Maturity bonds numbered
1 and 2 aggregating $850 on May 1 1908 and $850 each six
months from November 1 1908 to May 1 1917 inclusive.
The
city, however, reserves the right not to issue bonds numbered 1,
5, 9, 13, 17, 21, 25, 29, 33 and 37 If such Issue shall become
unnecessary.
The above bonds
dated May
1907. Interest semi¬
annual.
Certified check for 2% of bonds bid for, payable to
Stephen J. Dorgan, City Auditor, is required. Accrued in¬
terest to be paid by purchaser.
Nacogdoches, Nacogdoches County, Tex.—Bond Sale.—
The State School Fund recently purchased, at 103.10 and
accrued interest, the $50,000 5% 5-40-year (optional) water¬
works bonds registered on April 15 (V. 84, p. 1070).
Naco School District (P. O. Naco), Cochise County, Ariz.
—Bonds; Voted.—An election held May 18 resulted in a vote
of 28 to 0 in favor of issuing $5,000 0% 10-year school¬
building and site-purchase bonds.
Nampa Independent School District No. 37, Canyon
County, Idaho.—Bond Sale.—On May 18 the $15,000 5%
10-20-year (optional) gold coupon school-building bonds
described in V. 84, p. 1014, were awarded to Chas. H.
Coffin & Co. of Chicago at 101.173 and accrued interest—a
basis of about 4.851% to the optional date and about 4.908%
to full maturity.
Following are the bids:
C. H. Coffin & Co.,
R. Kleybolte & Co
are
Chic..$15,176 00|vS. A. Kean, Chicago
$15,015 00
Chic. 15,165 00] E. H. Rollins & Sons, Den 15,005 00
15,000 00
,
Title Guar,.&Tr.Co., Port. 15,037 50|State of Idaho
Napoleon, Henry County,
Ohio.—Bonds
Authorized.—
The Village Council on May 2(3 passed an ordinance providing
for the issuance of $1,200 5% coupon Welsted Street sewerconstruction assessment bonds.
Denomination $240. Date
March 1 1907. Interest semi-annually at the village treasury.
Maturity $240 yearly on March 1 from 1908 to 1912 inclusive.
New Castle, Lawrence County, Pa.—Bonds Not Sold.—No
bids were received onMay 13 for the $35,000 3%»% 10-20-year
(optional) coupon sewer bonds described in V. 84, p. 955.
These bonds, we are informed, will be re-offered as 4s.
Newport, Newport County, R. I.—Temporary Loan.—
This city on May 29 negotiated a loan of $90,000 with Blake
Bros.
Co. of Boston at 4.01% discount.
Loan matures
Sept. 1 1907.
Norman, Cleveland County, Okla.—Bonds Voted.—Repoits state that this city recently authorized the issuance of
$27,000 water-works-extension bonds by a large majority.
Norwood (P. O. Ind. Sta. H, Cincinnati), Ohio.—Bond
Election.—Reports state that a proposition to issue $34,000
bonds will be submitted to
Oak
a
vote
on
June 4.
Harbor, Ottawa County, Ohio.—Bond Sale.—This
village on May 27 awarded an issue of $3,500 5% bonds to
the First National Bank and the Oak Harbor State Bank,
both of Oak Harbor, at par, accrued interest and blank
bonds.
Denomination $500.
Date May 1 1907.
Interest
semi-annually in March and September.
Oakland, Alameda County, Cal.—Bond Offering.—Pro¬
posals will be received until 8 p. m. June 17 (postponed from
May 20), by Frank R. Thompson, City Clerk, for the $992,000 4^% gold coupon public-park bonds voted on Jan. 14.
Authority, Act of Legislature of Feb. 25 1901 and a vote of
2,724 to 541 at the election held Jan. 14. Denominations:
960 bonds of $1,000 each and 40 bonds of $800 each.
Date
[VOL.
THE CHRONICLE
1322
January
15
1907.
Interest
LXXXIV.
semi-annually at
the
City
Treasurer’s office.
Maturity $24,800 yearly on Jan. 15 from
1908 to 1947 inclusive.
Certified check (or cash) for 2%
of the amount bid, payable to the City Council, is required.
Official circular states that there is no controversy or litiga¬
tion threatened or pending affecting the validity of these
bonds and that the city has never defaulted on any of its
bonds or interest.
Delivery July 15. Purchaser to pay
accrued interest.
Orting, Pierce Oounty, Wash.—Bond Sale.—An issue of
$4,000 1-4-year (serial) funding bonds offered by this town
on May 20 was awarded as follows:
$1,000 bonds to Lillian Taylor of Orting, at par for 5 Hs.
2,000 bonds to Fred. Meuhler of Orting, at par for 5s.
1,000 bonds to Fr. Rudwick of Orting, at par for 4^s.
Denomination $500.
annual.
Date June 1 1907.
Interest semi¬
Ossining, Westchester County, N. Y.—Bonds Authorized.
—The Governor on May 21 signed an amendment to Chapter
345 of the Laws of 1892 whereby the village is authorized
to issue $150,000 10-30-year water bonds. ' Interest at not
exceeding 5%, payable semi-annually.
Oxford, Butler County, Ohio.—Bonds Defeated.—At the
election held May 16 the proposition to issue the $50,000
sewerage bonds mentioned in V. 84, p. 1071, was defeated.
The vote was 257 “for” to 138 “against”—-two-thirds being
necessary to authorize
Oyster Bay (P. O. Glen Cove), Nassau County, N. Y.—
Bond Sale.—On May 27 the $15,000 5%'1-15-year (serial)
gold coupon towTn-hall bonds described in V. 84, p. 1198,
were awarded to O’Conner & Kahler of New York City at
102.015—a basis of about 4.695%.
Palestine, Darke County, Ohio.—No Bonds Voted.—We
are advised that this village on April 2 voted to issue waterextension bonds (V. 84, p. 955) is erroneous.
Pataskala School District (P. O. Pataskala), Licking
County, Ohio.—Bond Offering.—Proposals will be received
up to June 8 for $30,000 4% coupon school-building bonds.
Denomination $1,000.
Date June 8 1907. Interest pay¬
able at the District Treasurer’s office.
Maturity $1,000
yearly on May 1 from 1908 to 1937 inclusive. Bonds are
exempt from taxation. Seymour Smith is Clerk of the Board
of Education.
Paulsboro, Gloucester County, N. J.—Bond Election Post¬
poned.—The election which wras to be held May 18 to vote
on the question of issuing the $78,000 water-and-light-plant
bonds mentioned in V. 84, p. 1138, has been postponed to
June
11.
,
Plymouth Township (P. O. Plymouth), Richland County,
Ohio.—Bids.—The following bids were received on May 21
for the $15,000 5%, coupon road-improvement bonds award¬
ed, as stated in last week’s issue, to the Mansfield Savings
Bank of Mansfield at 105.41 and accrued interest:
Mansfield Sav. Bk.,Mansf_$15,811
Citizens’ Savings & Trust
501 Denison & Farnswortli ,Cle .$15,686
Hoehler & Cummings,Tol. 15,682
Co., Mansfield
15,810 00| Citizens’ Bank, Shelby
15,652
Otis & Hough, Cleveland. 15,787 501 Emery, Anderson & Co.,
Citizens’ Nat.Bk.,Wooster 15,777 77
Cleveland
15,600
Mac Don’d, McCoy &Co.,Cln 15,761 50 S. A. Kean. Chicago
15,600
Seasongood&Mayer, Cine. 15,749 50 Richland Savings
Bank
Co.. Mansfield
Hayden,Miller & Co.,Clev. 15,703 50
15,575
W.
J.
Security Savings Bank &
Hayes & .Sons, Clev. 15,353
Trust Co., Toledo
15,687 50
00
50
00
00
00
65
00
Portage La Prairie, Man.—Debenture Sale.—This city re¬
an issue-of $83,000 local improvement debcntiircs to Wood, Gundy ■& Co. of Toronto at par and
accrued interest from May 15.
Portland, Ore.—Bond Election.—On June 3 the electors
of this city will vote on amendments to the city charter
providing for the issuance of the following bonds:
cently awarded
$3,000,000 4% 25-year bonds “for the construction of
an additional pipe
line or conduit from the head works on the Bull Run River
to the city of Portland and for the purchase of land for the
construction of reservoirs and for the purchase of water
meters and for the Installation of a meter system in the
supply of water.’’
1,000,000 4 % 25-year bonds for the “purchase of parks and small parcels
of ground for neighborhood parks and for the Improvement
thereof; also for the laying out, establishing and improving
of a system of boulevards and parkways with bridges over
gulches.”
500,000 4 % 30-vear bonds “for the purchase of lands and docks
and secondly in the construction and improvement of docks
by the Executive Board.”
450,000 4 % 30-year bonds “for construction of a new bridge across the
Willamette River at Madison Street.”
275,000 4 % 25-year bonds “to purchase, construct and equip an addi¬
tional fire-boat and to lay water mains for protection
against fire.”
.
.
.
Portsmouth, Scioto County, Ohio.—Bonds Authorized.—
On May 1 the City Council passed an ordinance providing for
the issuance of $10,000 4% coupon Gay street sanitary-sewerextension bonds.
Denomination $500.
Date Sept. 1 1907.
Interest semi-annual.
Maturity $2,500 yearly on Sept. 1
from 1911 to 1914 inclusive.
Prairie School District, Fresno
County, Cal.—Bond Elec¬
tion.—An election will be held June 8 to vote on the question
of issuing $4,500 6% gold school-building bonds.
Denomi¬
nation $900.
Interest annual.
Maturity one bond yearly.
Prentiss, Jefferson Davis County, Miss.—Bonds Author¬
ized.—The Board of Mayor and Alderman on May 9 passed
an ordinance providing for the issuance of
$15,000 water-
works-system bonds.
Randolph, Norfolk County, Mass.—Note Sale.—This town
on May 18 awarded.an issue of $35,000
4J^% refunding notes
to Jose, Parker & Co. of Boston for $35,352 50—the price
June 1
being 101.007. Denominations: 10 bonds of SI,500
each and 20 bonds SI,000 each.
Date May 18 1907. In¬
terest semi-annual.
Maturity SI,500 yearly on May 18
from 1908 to 1917 inclusive and SI,000 yearly on May 18
from 1918 to 1937 inclusive.
thus
Richmond, Va.—Bond Offering.—Proposals will be re¬
by E. J. Warren, City Auditor, for
$186,600 4% registered or coupon convertible refunding
bonds dated July 1 1907.
Denomination $1,000 if bonds
ceived until 12 m. June 10
are
School District No. 2 (P. O.
Rathdrum), Idaho.—Bond Offering.—Proposals will be re¬
ceived until 6 p. m. to-day (June 1) by Frank Wenz, Clerk
of the Board of Education, for S14,000 5% gold coupon
school-building bonds. Denomination $1,000. Date July
Interest semi-annually at the Rathdrum State
11 1907.
Bank of Rathdrum.
Maturity $1,000 yearly on July 1 from
1913 to 1926 inclusive.
Bonds are exempt from taxation.
Bonded debt, including this issue, $17,000.
Floating debt,
none.
Assessed valuation 1906, $250,000.
Red Cloud School District (P. O. Red Cloud), Webster
County, Neb.—Bond Offering.—Proposals will be received
until 12 m., June 20, by L. H. Fort, Secretary of the Board
of Education, for the $25,000 4^% school-building and
heating-plant bonds mentioned in V. 84, p. 1071. Author¬
ity, Section 11259 Cobby’s Annotated Statutes of 1903.
Denomination $500.
Date June 1 1907. Interest annually
at the County Treasurer’s office.
Maturity June 1 1927,
subject to call after June 1 1912. Total debt, including this
issue, $30,000.
Assessed valuation 1906, $329,786. Real
value (estimated), $1,648,930.
Certified check for $500,
payable to the City Treasurer, is required. Official circular
states that there is no litigation or controversy pending or
threatened concerning the validity of these bonds, the
boundaries of the municipality or the titles of the officials
to their respective offices, and that the principal and interest
on all previous issues have always been paid promptly.
Reeves County (P. O. Pecos), Tex.—Bonds Registered.—
An issue of $15,000 5% 5-20-year (optional) bridge bonds
dated March 1 1907, was registered on May 22 by the State
Comptroller.
Regina School District No. 4 (P. O. Regina), Sask.—De¬
benture Sale.—On May 17 the two issues of 4^o% deben¬
tures aggregating $90,000 described in V. 84, p. 1138, were
awarded to Wood, Gundy & Co. of Toronto.
Rathdrum Independent
NEW
NEW LOANS.
coupon.
Maturity
bids for $100,000 or
April 21 awarded an issue of $25,000 4^% school bonds
Trowbridge & Niver Co of Chicago at par, accrued
interest and blank bonds.
Securities are dated May 1 1907.
Maturity part yearly on May 1 from 1917 to 1926 inclusive.
Denomination $1,000.
Interest annual.
on
to the
Rockwall County (P. O. Rockwell), Tex.—Bond Regis¬
State Comptroller registered $1,999 4% jail
repair bonds on May 23.
tered.—The
Rocky Mount, Edgecombe County, No. Car.—Bond Offer¬
ing.—Proposals will be received until 3 p. m. June 6 by
W. L. Thorp, Mayor, for $155,000 5% school-building,
water, light and street-improvement bonds.
Authority, an
Act of the Legislature of 1907.
Interest semi-annually in
New York.
Maturity 40 years. Certified check for $1,000
is required.
Purchaser to furnish blank bonds. Present
debt, $95,000. Assessed valuation, $3,000,000.
Rocky Ridge, Ottawa County, Ohio.—Bond Sale.—On
May 27 the $2,500 5% 1-5-year (serial) coupon street-im¬
provement bonds described in V. 84, p. 1071, were awarded
to the State Bank at par and accrued interest.
Purchaser to
furnish blank bonds.
Following are the bids:
n$2,500 00! Hayden. Miller & Co., Cle_.$2,521 00
1 Bank of Elmore2.501 00
And furnish blank bonds.
State Bank..
a
Offering.—Proposals will be re¬
time by the City Council and L. R. Boyd,
Mayor, for the $10,000 5% coupon electric-light bonds voted
Roff, Ind. Ter.—Bond
ceived at any
#186,000
City of Minneapolis,
JUDGMENT BONDS
BONDS
City of Richmond, Va.,
FOUR
Sealed bids will be received by the Committee
Ways and Means of the City Council of the
City of Minneapolis, Minnesota, at the office of
the undersigned, WEDNESDAY, JUNE 12T1I,
1907, AT 2 O’CLOCK P. M., for the whole or
any part of $100,000 00 Permanent Improvement
Fund Bonds, and for the whole or any part of
$250,000 00 Permanent Improvement Revolving
Fund Bonds.
Said bonds bear interest at the rate of four (4)
per cent per annum, payable semi annually,
dated July 1st, 1907, and payable July 1st, 1937.
The right to reject any or all bids Is reserved.
A certllied cheek for two (2) per cent of the
on
proposals for the purchase of Twenty-two
thousand dollars judgment bonds, the proceeds
thereof to be used for the payment of such Judg¬
ments now standing: against the City of Hoboken:
said bonds to bear Interest at the rate of four per¬
cent per annum, to be registered or coupon bonds,
and to run twenty years from the date of Issue,
and that the said sale be advertised by the City
Clerk, accord In
to law.”
That sealed proposals for the purchase of bonds
Hoboken, to be known as “Judg¬
In the amount of twenty-two
thousand dollars ($22,000), to run for a period
of twenty (20) years from date of Issue, regis¬
tered or coupon, at the option of the bidder, will
be received at the meeting1 of the Council to be
of the City of
ment
Bonds,”
held
NEW LOANS.
LOANS
City of Hoboken, N. J.,
I
6ar
value of
the
[ulbert.
City
bonds bid for,
madeaccompany
to C. S.
must
Treasurer,
each bid.
Circular containing full particulars will
mailed upon application to
DAN C. BROWN.
be
City Comptroller.
on
WEDNESDAY
EVENING.
at
8
o’clock.
JUNE
12.
Bidders' state prices on bonds bearing
of four per cent per annum,
at the rate
1907,
Interest
payable
Albert
semi-annually.
All proposals must be directed to the Mayor
and Council of the City of Hoboken, N. J., and
shall be accompanied by a certllied check for one
thousand dollars ($1,000).
The Mayor and Council of the City of Hoboken
reserves the right to reject any or all bids If
deemed In the Interest of the City so to do.
By order of the
Council.
JAMES H.
LONDRIGAN,
City Clerk.
Kleybolte & Co.,
409
and
Walnut
Street,
To
Financial
Or
a
provide for the redemption of $186,600 of
in multiples of $1,000.
Bids for the above will
be received at the office of the City Auditor till
10. 1907.
A certllied check
equal to 2 per cent on bids of
$100,000 or less, or 1 H per cent on all bids In
excess of that amount, payable to order of the
Auditor of the City of Richmond, must accom¬
NOON
for
an
pany each bid.
The right to reject any and all bids Is expressly
reserved.
For further
Information
apply to
Edward J. Warren, Auditor.
J. B. WOOD,
Chairman Committee on Finance.
Adrian H. Muller & Son
Regular Weekly Sales
Public
High-Grade
Service
OF
STOCKS and BONDS
EVERT TTEDNE8BAY,
Office
F. B. SHERMAN & CO.
(Bjr Prank W. Rollins)
CORPORATION
)
anu
BONDS
)
The above book will be furnished
without ®ost on application to
E. H. ROLLINS & SONS, 21 Milk
205 La Salle Street,
8t., Boston,
MUNICIPAL AND RAILROAD
lithographed, or part¬
If the latter, then can be
ly primed from type.
DELIVERED IN FEW
DAYS
Certificates engraved In best, manner, or
lithographed and partly printed
ALBEBT B. KINO A
Daftly
CO., 206 Broadway, N. T.
OF JUNE
amount
Municipal.
County,
State,
MUNICIPAL
with steel-plate t>ordera. or
BONDS.
AUCTIONEERS.
Plea for Conservative
Investments
BONDS SSKoS? COUPONS
REFUNDING
CINCINNATI, O,
Securities
Courtship
CENT
PER
bonds maturing July 1, 1907.
The Committee on Finance of the City of
Richmond, by virtue of an ordinance of the City
Council, approved April 29. 1907, Is Instructed
to advertise and receive bids for the purchase
of all or any portion of Registered or Coupon
Convertible Four Per Ceut Bonds, having thirtyfour years to run. dated July 1, 1907, and bear¬
ing interest from that date, required to meet the
above at maturity.
The Coupon Convertible Bonds will be Issued
Correspondence Solicited
A
Certified check for 2%
Rochelle School District (P. O. Rochelle), Ogle County,
Ill.—Bond Sale.—We have just been advised that this district
§360,000
Public notice Is hereby given, In accordance
with the following: resolution of the Council,
passed on the eighth day of May, 11)07, and duly
approved on the tenth day of May, 1907:
“Resolved that the City Clerk be and he Is
hereby directed to advertise, according to law,
July 1 1941.
less and 1^% on bids for more than
$100,000, payable to the City Auditor, is required.
The official notice of this bond offering will be found among
the advertisements eleswhere in this Department.
on
#33,000
for
1323
THE CHRONICLE
1907.]
CHICAGO
BONDS.
LIST
ON APPLICATION.
SEASONGOOD & MATER,
mercantile Library Building,
CINCINNATI.
No.
6t>
WILLIAM
STREET
Corner Pino
Mao Donald, McCoy
MUMICIPAL
AMD
& Go.,
CORPORATION
BONDS.
x£i La Salle Street, Chicago.
.
THE
NORTHERN AUDIT CO.
5'Z Broadwny, New
York
CHA8. GRI8W0LD BOURNE, President
Telephone 4592 Broad
,
[VOL.
THE CHRONICLE
1324
LXXXIV.
St. Francis Levee District, Arkansas.—Bond Offering.—
Act of Congress approved July 1
Date, day of sale. Interest Proposals will be received until 12 m. June 15 by H. D. iTomannually in Roff. Maturity 30 years, subject to call after linson, Secretary, 162 Randolph Building, Memphis, Tenn.,
10 years.
Certified check (or cash) for $500, payable to for $500,000bonds. Certified check for 2J^%of amount bid
is required.
John G. Jones, City Treasurer, is required.
St. James, Watonwan County, Minn.—Bond Sale.—On
Bosthem, Sask.—Debenture Offering.—Proposals will be
received up to July 1 by Geo. Braden, Secretary-Treasurer,
May 22 the $6,500 5% 4%-year (average) city-hall bonds
for two issues of 5% debentures aggregating $18,000.
Ma¬ described in V. 84, p. 1071, were awarded to the Union In¬
vestment Co. of Minneapolis for $6,525 (100.384) and ac¬
turity part yearly for 20 years.
crued interest—a basis of about 4.905%.
Bids were also
Rowland, Bobeson County, N. C.—Bond Offering.—Pro¬
received from U. M. Stoddard & Co. of Minneapolis and
posals will be received until 12 m., June 15, by O. P. Chitty, O’Connor & Kahler of
Chicago.
Town Treasurer, for $12,500 coupon school-building bonds
not exceeding 6% interest.
St.
Louis, Mo.—Bond Offering.—Attention is called to the
Denomination $1,000. Interest
January and July at the Bank of Rowland. Maturity thirty official advertisement elsewhere in this Department of the
years.
Certified check for 10% of bonds bid for, payable to offering on June 11 of the $2,000,000 3.65% gold coupon
O. P. Chitty, Town Treasurer, is required.
Bonds are ex¬ renewal bonds. For details of these bonds and terms of
empt from town taxes. Assessed valuation 1906, $330,000. offering see V. 84, p. 1266.
Santa Barbara School District (P. O. Santa Barbara),
Rutherford, Gibson County, Term.—Bond Offering.—
G. M. Savage, Mayor, is offering at private sale the $15,000
Santa Barbara County, Cal.—Bonds Voted.—On May 18 this
5% coupon high-school-building bonds voted on April 17. district authorized the issuance of the $20,000 5% 1-20-year
Denomination $500.
Date July 1 1907.
Interest semi¬ (serial) gold school-building bonds mentioned in V. 84,
Town
annually at the
Treasurer’s office. Maturity July 1 p. 1139, by a vote of 207 to 5. Denomination $1,000. In¬
1947, subject to call after July 1 1912. Bonds are exempt terest annual. Bonds will be offered about June 15.
from city taxes. This town has no debt at present. Assessed
Santa Clara, Santa Clara County, Cal.—Bond Sale.—On
valuation 1906, $200,000.
Certified check for $500, pay¬ May 23 the three issues of 4^% 1-40-year (serial) gold
able to the Mayor, is required.
coupon bonds, aggregating $60,000, described in V. 84, p.
Saginaw, Mich.—Bond Offering.—Proposals were asked for 1139, were awarded to E. H. Rollins & Sons of San Fran¬
up to 2 p. m. yesterday (May 31) by Wm. Seyffardt, City cisco, at. 104.028 and accrued interest—a basis of about
Comptroller, for $24,000 4% sidewalk bonds. Denomina¬ 4.206%. The following bids were received:
tions: twenty bonds of $1,000 each and ten bonds of $400
E. H. Rollins, San Fran__$62,416 891 Los Angeles Tr. Co., Los A$61,200 00
on
April 9.
1902.
Authority,
an
Denomination $500.
Otis & Hough, ClevelandN. W. Harris & Co., Los A
each.
Date June 1 1907.
Interest semi-annually at the
office of the City Treasurer or at the current official bank in
New York City.
Maturity $2,400 yearly on June 1 from
1908 to 1917 inclusive.
Bonds are exempt from all taxation.
The result of this offering was not known to us at the hour of
62,175 OOlFlrst Nat. Bk., Oakland-- 60,910 50
61,535 00) Merchants’ Tr. Co., Los A 60,735 00
Sapulpa, Ind. Ter.—Bond Offering.—Proposals will be re¬
by J. A. Fulp, Town Recorder, for
ceived until 12 m. June 5
the following bonds:
$37,000 sewer bonds.
Denomination $1,000.
12,000 schoolhouse bonds.
Denomination $500.
6,000 water-works-extension bonds.
Denomination
going to press.
St. Augustine, St. John County, Fla.—Bonds Defeated.—
An election held May 21 resulted in the defeat of a proposition
to issue $75,000 sewer bonds.
The vote was 67 “for” to 153
$500.
Interest
(rate not exceeding 5%) semi-annual. Maturity
twenty years. Certified check for 10% of bonds bid for is
required.
“against.”
NEW LOANS.
NEW LOAN8.
CITY OF ST. LOUIS
$100,000
Wilson
ISSUE OF
Township, Wilson Co..
North Carolina
3.65 Per Cent 20-Year Gold Renewal Bonds
MAYORS' OFFICE
Saint Louis, June 1st, 1907.
By virtue of Ordinance No. 22,865, authorizing
the Issue, sale and delivery of renewal bonds of
the City of St. Louis, sealed proposals for the
purchase of two million dollars ($2,000,000) In
said bonds, hereinafter described, or any portion
thereof, will be received at the Mayor’s office.
In the City of St. Louis, until 12:00 o’clock noon,
of the 11TH DAY OF JUNE. 1907, and publicly
opened
by the undersigned at said place and
hour.
Said bonds will be dated June 25th, 1907, and
will each be of the denomination of $1,000 United
States Gold Coin, payable twenty (20) years
after their date, and will bear Interest from their
date at the rate of three 65-100 (3.65) per cent
Semi-annual
Interest
per
annum.
coupons,
payable on the 25th day of June and December,
respectively, will be attached to each bond, and
both bonds and coupons will be payable to bearer,
as he may elect, either at the National Bank of
Commerce In New York, In United States Gold
Coin, or at the National Bank of Scotland,
Limited, 37 Nicholas Lane, London, England,
In pounds sterling, at the rate of four dollars,
eignty-six cents, six and one-half mills ($4 8665)
per pound Sterling.
The bonds will contain the
condition that In payments of principal and In¬
terest the United States Gold Dollar and the
Pound Sterling will be calculated at the present
standard weight and fineness.
The bonds may
be exchanged for registered bonds at any time.
Bidders are requested to state In their proposals
the price offered per bond, the par and premium
to
be stated
as one
amount.
equal to five (5) per cent of the nominal amount
of the bonds bid for; said deposit to be returned
If the proposal Is not accepted, otherwise to be
held subject to forfeiture to the City In event of
failure on the part of the bidder to comply with
his proposal, or in case of compliance, to be re¬
tained as part of the purchase money.
A deposit
in the required amount to the credit of the City
of St. Louis, In the National Bank of Commerce,
In New York, or In the National Bank of Scotland,
Limited, London, will be
on
posited by the successful bidder.
Proposals will be subject to all the conditions
and reservations of this advertisement, and must
refer to same as a portion of the agreement on
the part of the bidder.
Proposals should be enclosed and addressed
the undersigned and endorsed “Proposal for
Purchase of St. Louis City Bonds.”
The undersigned reserve the right to reject
any or all bids.
to
The Bonds will be delivered against payment
therefor In current funds, at the office of the
Comptroller In the City of St. Louis, on the 25th
day of June, 1907, or. If the bidder so elects In
his proposal, at the National Bank of Commerce,
In New York, on the 25th day of June, 1907.
The opinion of Messrs.
Dillon & Hubbard,
Attorneys and Counselors at Law, New York
City, as to the validity of the bonds, will be fur¬
nished the successful bidders by the City.
A
sample bond can be seen and further Infor¬
mation obtained at the office of the Comptroller.
Proposals must be accompanied by a deposit
WELLS, Mayor.
JAMES Y. PLAYER, Comptroller.
ROLLA
of cash or certified check, payable to the order
of the Comptroller (and subject to his approval).
accepted as full com-
Sfiance
with will
the requirements
deposits.
fo Interest
be allowed
relating
earnestto
money
de¬
YORK,
Township, Wilson County, North Carolina,
son
all bonds to be In one denomination, not exceed¬
ing $1,000 and not less than $100 each, with
semi-annual
Interest
coupons
attached. The
bonds
1907.
bonds
payable In thirty years from July 1st,
Separate bids must be made on these
as follows:
1st on $25,000; 2nd on $50,000, and 3rd on $100,000, the total Issue.
Bids must be accompanied by certified check
on some reputable bank for $2,000.
Right re¬
served to reject any and all bids not satisfactory.
Road Commission of Wilson Township,
By J. C. HALES. Sec’y.
R.
are
L.
DAY
&
CO.,
BANKERS,
85
Congress Street,
87 Wall Street,
NEW YORK.
BOSTON.
New York
City Bonds
EXEMPT FROM
AND
STATE, COUNTY
CITY
TAXES
INVESTMENT BONDS.
CERTIFIED PUBLIC ACCOURTARTS.
(New York and Illinois.)
NEW
Sealed bids will be received until JUNE 15TH,
1907, 7 p. m., by the undersigned for the pur¬
chase of $100,000 5% Good Roads Bonds of Wil¬
Perry, Coffin ft Burr,
BARROW; WADE, GUlHRfE & CO
Broad
GOOD ROADS BONDS
60 State
Street,
BOSTON.
■
Exchange Building,
26 Broad 8treet.
CHICAGO,
SAR FRARCtSCO,
REW Off LEARS,
INVESTMENT BONDS
Ifonadnock Bloch.
787 Market 8treet.
Hibernia Bank
Lists upen reqieat.
L0RD0R, ERGLARD,
18 8t 8uuithin's Lane,
E, C., Cable, “Adorjeet."
Bldg,
Denison ft Farnsworth,
BOSTON
CLEVELAND and
PHILADELPHIA.
June 1
Schenectady, Schenectady Comity, N. Y.—Bond Sale.—
On May 28 the $30,000 school and $370,000 sewer4}^% 20year registered bonds described in V. 84, p. 1015, were
awarded to A. B. Leach & Co. of New York City at 105.179
and accrued interest—a basis of about 4.118%.
Following
are
the bids:
$370,000
$30,000
school bonds.
A. B.
Leach & Co., New York (for both
W. N. Coler & Co.,
New York..
bonds.
tfal04.53]
Jj105.53j
104.094 f
103.43
102.50
102.40
Harris & Co.. New York (for both Iss.)
Estabrook & Co.. New York (for both Issues)
Parkinson & Burr, Boston (for both Issues)..
W. J. Hayes & Sons, Cleveland (for both lss.)
John D. Everltt & Co., New York
For $170,000 sewer
sewer
105.179
Issues)
..104.53
N. W.
a
103.413
h For $200,000 sewer bonds.
bonds,
As already stated in V. 84, p. 1015, the $30,000 school
bonds mentioned above are part of an issue of $60,000, of
which $30,000 maturing $3,000 yearly on June 1 from 1909
to 1918 inclusive will be taken at par by the water debt sink¬
ing fund as an investment.
Shelby County (P. 0. Memphis), Tenn.—Bond Sale.—On
May 27 the $500,000 4% 50-year coupon court-house bonds
described in V. 84, p. 1199, were awrarded to the Bank of
Commerce & Trust Co. of Memphis at 100.125.
A bid of
-
par was
1325
THE CHRONICLE
1907.]
also received from the Union &
Trust Co. of
Planters’ Bank &
Memphis.
Shreveport, Caddo Parish, La.—Bond Offering.—Proposals
will be received until 7 p. m. June 11 by C. G. Rives, City
Comptroller, for the $75,000 city-hall and the $40,000 parkpurchase 4% coupon bonds voted on Jan. 15 (V. 84, p. 528).
Authority Act 281 of the Constitution and Act 145 of the
Acts of the General Assembly of 1902.
Denomination
$1,000. Date Jan. 1 1907. Interest semi-annually at the
Maturity Jan., 1 1947. Bonds
Certified check for $1,000, pay¬
able to the City Comptroller, is required.
Simcoe, Ont.—Debentures Not Sold.—No sale was made on
May 27 of the $70,000 4J^% water-works debentures de¬
City Comptroller’s office.
exempt from taxation.
are
scribed in V. 84, p. 1195.
Skamania County (Wash.)
School District No. 3.—Bond
Sale.—On May 18 $1,000 5% 3-10-year
(optional) high-school
were awarded to the Board of Finance of the State of
Washington at par.
Springfield, Hampden County, Mass.—Bonds Authorized.
—The City Council on May 27 passed an ordinance providing
for the issuance of $170,000 4% registered or coupon city-hall
and site bonds.
Denomination $1,000.
Interest semi¬
bonds
annual.
8pringfield, Clark County, Ohio.—Bond Sale.—On May 28
$3,405 75 Monroe Street, and the $9,481 19 Mulberry
Street 5% 1-10-year (serial) coupon paving assessment
bonds described in V. 84, p. 1200, were awarded to the
American Trust & Savings (Jo. for $3,455 75 (101.468) and
$9,681 19 (102.109) respectively.
Purchaser to pay ac¬
crued interest.
Bids were also received from the Springfield
Savings Bank of Springfield and the Firemen’s Pension Fund
the
Trustees.
Steelton, Dauphin County, Pa.—Bond Offering.—Propos¬
June 5 by John D. Young,
Secretary of Town Council, for $85,000 4}^% filter-plant
bonds.
Authority, a vote of 1,079 to 495 at election held
Feb. 19 1907.
Denomination $100 or multiples thereof.
Date July 1 1907.
Interest semi-annually at the Steelton
National Bank in Steelton.
Maturity July 1 1937. Bonds
are exempt from taxation.'
Bids must be made on blank
forms furnished by the Town Council and accompanied by a
certified check for 2% of bonds bid for, payable to Leroy H.
Sutton, Borough Treasurer. Official circular states that
there is no controversy or litigation pending or threatened
concerning the validity of these bonds, the corporate existence
or boundaries of the municipality, or the title of the present
officers to their respective offices.
Trenton, Mercer County, N. J.—Bonds Authorized.—This
city recently authorized the issuance of $75,100 bonds for
refunding sewer-construction certificates, $3,700 for the
completion of engine house No. 7 and $3,500 for public
baths.
These securities will bear 4% interest and be either
coupon or registered in form.
Denomination $100 or mul¬
tiples thereof. Interest semi-annual. Maturity 10 years.
Tucson, Pima County, Ariz.—Bonds Not to Be Issued at
Present.—We are informed that no action can be taken
looking to the issuance of the water-extension, fire-departals will be received until 8 p. m.
NEW LOANS.
NEW LOAN8.
INVESTMENTS.
#25,000
950,000
NEW YORK CITY
Bullitt
County. Kentucky, Union?Free School District No. 8,
ROAD BOND8
TOWN OF CORTLANDT,
Sealed bids will be received up to noon,
JUNE 25, 1907, at Shepherdsville, Kentucky,
for the purchase of $25,000 00 of Road bonds of
Bullitt' County, Kentucky, made payable to
bearer, and drawing Interest at four and one-half
(4>£%) per cent per annum from June 1, 1907,
payable semi-annually at the Fidelity Trust Com¬
pany of Louisville, Ky., as follows:
20 $100 bonds payable In five years
6 $500 bonds payable In live years
6 $500 bonds payable In seven years
8 $500 and 1 $1,000 bonds, payable in ten years
6 $1 ,000 bonds payable in fifteen years
6 $1,000 bonds payable In twenty years.
Any of said bonds may be redeemed after fif¬
teen (15) years from date of issue at the option
The right to reject all bias re¬
of the county.
served, and bonds will not be sold for less than
accrued Interest.
Information furnished on application.
J. F. COMBS,
Commissioner.
face value and
new
Issue
4% REGD. GOLD BONDS
*
MATURING
NOV
1959
WESTCHESTER COUNTY. N. Y.,
BONDS
Fifty thousand Dollars In bonds will be issued
Union Free School District No. 8. of the Town
of Cortlandt, Westchester County, N. Y., on
July 1, 1907.
Denomination of bond Five hun¬
dred Dollars.
Payable Two thousand Dollars
yearly, beginning January 1, 1908.
Bids will be for the lowest rate of Interest at
which the money will be furnished.
No other
bids will be considered.
Bids will be opened JUNE 12. 1907, AT 10
O’CLOCK, at the office of the Board of Educa¬
tion. Peeksklll. N. Y.
by
apply to A. D. Dunbar,
Superintendent, Peeksklll. N. Y.
For
further
T. W. STEPHENS & CO.,
2 Wall
Street, New Yerk.
BALTIMORE
OaatlMital Billdlug.
CHICAGO
Id Kai Baak Bllg,
ENGINEERS.
notice
EXAMINATIONS
AND
Blodget, Merritt & (Jo
REPORTS
,
ERVIN
BANKERS,
60 8tat* Street,
S6 NASSAU STREET,
STATE. Clff * RAILROAB
BONDS.
CITY
Building, Chicago
COUNTY
AND TOWNSHIP
BONDS,
For VlM Serreap on deuce
Uaee are
standard, made in Ladner, Bond,
ud tor General Business
Linen and Fine
Wrlttnffln variety.
WHITING PAPER CO.,
Now York.
Philadelphia.
Chicago.
Mlllai 11a! rate, Han.
BONDS
43
Speer & Sons Co.
First Nat. Bank
Members
laohangt,
Philadelphia Steak Szehaagt.
Haw York Stock
FOB
INYESTMEBrT,
BEADLE & MAXWELL
GA8 and ELECTRIC ENGINEERS
NEW YORK
89 Beavrr 8tmt
ERNEST ABS-HAGEN, C.E., M.E.
CONSULTING ENGINEER
Water Supply,
Established IMS.
H. C.
COMPANY,
BANKERS,
Boston
NEW TORS.
&
liehaaga Plaos,
Few York
Bnildiag,
Philadelphia.
Drexel
Sewerage Systems,
Power Plants
KxasilDRtUna and Reverts on l.atla*
American lndaatrlal Projects a Specialty
1 BROADWAY
NEW YORK
coupon municipal-building
Total debt, this issue.
ment-improvement and city-hall bonds voted in March
(V. 84, p. 768) until the special election is ratified by an Act
of Congress.
Utica, Oneida County, N. Y.—Bond Offering.—The follow¬
ing bonds will be offered at public auction at 12 m. June 4
at the office of John A. Cantwell, City Clerk:
$50,000 4 % bonds for the purpose of changing the channel of the Mohawk
[VOL. LXXXIV
THE CHRONICLE
1326
cessful bidder.
storm-water-dralnage-system-constructlon bonds. Authority,
Chapter 188, Laws of 1906.
Denomination $2,500. Maturity
$2,500 yearly on May 1 from 1917 to 19 26 Inclusive.
Certified
check for 1 % of bonds bid for must be deposited by the suc¬
tioned in V. 84, p. 1141.
West Baton Rouge Parish Drainage District No. 1, La.—
Price Paid for Bonds.—We are informed that the price paid
for the $25,000 5% coupon public-improvement bonds re¬
cessful bidder.
The above bonds are dated May 1 1907.
Interest semi¬
annual.
Certified checks to be drawn on a national bank
or a New York State bank or trust company and made pay¬
able to the City Treasurer.
cently disposed of (V. 84, p. 1268) was par.
White Cloud, Newaygo County, Mich.—Bond Sale.—On
May 3 the $8,000 5% village-hall bonds voted on March 11
(V. 84, p. 1075) were awarded to Otis & Hough of Cleveland
at 101.
Denomination $500. Date July 1 1907. Interest
semi-annual.
Maturity $500 yearly on July 1 from 1912 to
Valley City School District (P. O. Valley City), Barnes
County, No. Dak.—Bond Sale.—We are advised that the
$18,000 4% school-building bonds recently voted (V. 84,
1073) have been purchased by the State.
Victoria, B. C.—Debenture Offering.—Proposals will be
received until 4 p. m. June 10 by Wellington G. Dowler for
the following debentures:
p.
Youngstown, Ohio.—Bond
Date April 9 1907.
$19,000 5% West Federal Street
on
Maturity May 6 1917.
May 6 1907.
Oct. 1 1913.
Maturity $2,000 on Oct. 1
1908 and $2,500 on Oct. 1 1909.
5,340 5 % Fifth Avenue paving bonds.
Maturity $1,068 yearly on Oct.
from 1908 to 1912 Inclusive.
3,5 80 5 % Broadway paving bonds.
Maturity $716 yearly on Oct.
from 1908 to 1912 Inclusive.
2,515 5% Seneca Street sewer bonds.
Maturity $503 yearly on Oct.
from 1908 to 1912 Inclusive.
City. Purchaser to pay accrued interest.
Vidalia, Toombs County, Ga.—Bonds Not Sold.—Up to
May 24 no sale had yet been made of the $23,000 5% 30-year
coupon light-and-water bonds described in V. 84, p. 957.
Virginia Beach, Princess Anne County, Va.—Bond Sale.—
On May 27 the $20,000 6% 30-vear coupon sewerage and
water-improvement bonds offered on May 25 (V. 84, p. 1267)
were awarded to the Bank of Princess Anne of Virginia Beach
at 100.25, accrued interest and cost of bonds.
Warrenton, Warren County, No. Car.—Bond Offering.—
This town is offering for sale an issue of $8,000 5% 20-year
1
1
1
The above bonds will be dated July 1 1907.
Interest
semi-annually at the City Treasurer’s office. Bids must be
separately and must be accom¬
certified check for 2% of bonds bid for, drawn
on a national bank and made payable to Wm. I. Davies,
City Auditor. Purchaser must be prepared to take the bonds
not later than July 1, the money to be delivered at one of
the banks in Youngstown or at the City Treasurer’s office.
made for each block of bonds
panied by
a
MISCELLANEOUS.
MISCELLANEOUS.
OF
Maturity $3,000 yearly
widening bonds.
Oct. 1 from 1908 to 1912 Inclusive and $4,000
4,500 5% Caroline Street extension bonds.
Interest semi-annually at the Bank of British North
America in either Victoria, Montreal, London or New York
OFFICE
Offering.—Proposals will be
June 24 by Wm. I. Davies, City
Auditor, for the following bonds:
received until 2 p. m.
Denomination $1,000, except one
Maturity April 9 1932.
water-works-loan debentures.
Denomination $1,000. Date
bond for $500.
8.000 4 %
1927 inclusive.
debentures.
$36,500 4 °o school-loan
Interest semi-annual.
Waterford, New London County, Conn.—Bond Offering.—
Proposals will be received until 10 a. m., June 8, by Albert
H. Lanphere, Austin J. Perry, James E. Comstock, Town
Selectmen, for $100,000 4% coupon bonds.
Denomination
$1,000. Interest June 15 and Dec. 15 at the Union Bank of
New London.
Maturity June 15 1937.
Waycross, Ware County, Ga.—Bonds Defeated.—The elec¬
tion held May 25 resulted in the defeat of the proposition to
issue the $60,000 electric-light-plant-purchase bonds men¬
River.
Authority. Chapter 93, Laws of 1891. as amended by
Chapter 131, Laws of 1907.
Denomination $5,000. Maturity
$5,000 yearly on May 1 from 1 927 to 1936 inclusive.
Certified
check for 2 % of bonds bid for must be deposited by the suc¬
25,000 4%
bonds.
CASuTrplu8ND $11,000,000
THE
guarantee
ATLANTIC MUTUAL INSURANCE COMPANY. Title
andTRUST company
New York, January
T
<
the Company, submit the follcAVing statement of
Slsf of December, 1900.
Trusses, in conformity v:\ih the Charter of
on
Premiums
Premiums
the
-in*■ Pi ks f'-orn 1 -t January. 1906, to 31st
Policies not marked oil 1st January, 1906
on
on
December, 1906
its affairs
$3,190,241 67
582,191 98
$3,772,433 05
Total Marine Premiums
Losses paid during t V- v'-ar which were
and previous years
Losses occurred, estimated and paid In
Le es Sal cages
Re-Insurances
$350,457 98
125,501 85
estimated In 1905
-
1900
.
Money on Bond and Mortgage.
Furnishes
Mortgages to Investors.
Receives Deposits
subject to check, allowing
Interest.
...
$54 4,098 27
Company lias the following Assets, viz.:
1/tilted States and State of New York Stock, City, Bank and other Securities
Special deposit- it Ba: le arid Trust Companies .
......
.....
.
•J.eui Estate force*- Wall and William Sr-u, and Exchange Place..
$4,299 ,ooo 00
75,000 00
E'.aer Real E.-tate and ”:aims due the Company
Banking Interests
EDWARD O.
The
_
_
.
P*—mium nou-s and Bids Receivable
a-n in
hand- of European Bankers to pay
count'd*Cash Jn bauk
.
..
losses under poIUT.s payable
<
.
.
.
.
.
_
_
In foreign
_
.
-
...
Aggregating
■
$5,097,108 00
700,906 07
4,374,000 00
1,191,974 88
$12,797,823 72
«.
of the Company for ih<
ending 31st December, 1906, for which, upon application, certificates will be Issued on and
after Tuesday the seven to of May next.
By orde* e? the Board,
<j. STANTON FLOVD-JONES. Secretary.
year
FRANK BAILEY, Vice President.
EDWARD O. STANLEY. Second Vice
MORRIS 11. J ESCP,
LEWIS CASS LEDYARD,
FRANCIS H
LEGGETT.
CHARLES D
LEVKRICH,
EKANDER N. LOVELL.
GEORGE H. MACY,
CHARLES H. MARSHALL.
W. H. H. MOORE.
NICHOLAS
!'. PALMER,
HENRY PARISH.
DALLAS B. PRATT,
GEORGE W. QUINTARD
A. A. RAVEN,
.JOHN L JOKER,
DOUGLAS ROBINSON,
GUSTAV If SCHWAB,
WILLIAM A. STREET.
A
RAVEN. Pnsidmt.
A
CORNELIUS ELDERT. Vice President.
JAMES L
LIVINGSTON. ?d Vice President.
SANFORD E. COBB. 3d Vi>, President.
CHARLES E. FAY, 4th Vice President.
President.
Manager Banking Department.
CLINTON D. BURDICK Third Vice President.
J. WRAY CLEVELAND, Secretary.
ARTHUR TERRY, Treasurer.
FRANK
Manager
L. SNIPFEN
Department.
Brooklyn Banking
8peeiaNsts in New Jersey Securities.
eisele & king,
BANKERS,
Members of New York and Philadelphia
Stuck Rxohangea.
Tit USTFKS.
HERBERT E. GRIGGS,
CLEMENT A. GkJSCOM
ANSON W. HARD.
STANLEY
CLARENCE H. KELSEY. President.
271,142 54
562,631 63
A dividend of Six per cent Interest on the outstanding certificates of profits will be paid to the
holders there**!, or.their h-gai n-presentati\es. on and after Tuesday the Fifth of February next.
Tne outstanding cerriiieat<rs of the issue of 190! will be re*i< <• ned and paid to the holders thereof,
*.r theP
!,• r-p ; eo resent a* 1 \ es, on and after Tuesday the fifth of February next, from which dat*
I Stitere-T *u*'r*^*’> will c< ase.
The certificates to be produced ;,i the time of payment, and canceled
A dividend of Forty per cent Is declared on the net farm'd premiums
GUSTAV AMSI N<" X,
ERA VIS .VI
BACON,
JOHN N. HkA' H,
WILLIAM B. BOCLTON,
VERNON H. BROWV
WALDRON P
BROWN,
JOSEPH 1C f'HAUMA N,
GEORGE C. CLARK.
CLEVELAND H
DODGE,
CORNELIUS ELDER !',
RICHARD H. EWART,
Business.
CLARENCE H. KELSEY.
EDGAR L. MAR8TON.
WILLIAM H. NICHOLS.
JAMES II. O LI PH ANT.
CHARLES A. PEABODY.
JACOB II. SCHIFF.
JAMES SPEYER.
$62,411 11
...
Real Estate Titles.
EDWARD T. BEDFORD.
257,307 31
and clerks’ compensation, sta¬
tionery, nev,-papers, advertisements, etc
Loans
Dept.
FINANCE COMMITTEE.
.
Expenses. lueludi-ig '>*lieers’ salaries
Brooklyn Banking
Examines & guarantees
In Charge of
$309,817 14
1,009,224 32 $1,319,041 40
$1,001,674 15
Returns of Premiums.
Montague Street,
Does all Trust Company
$481,959 83
$1 07,170 57
159,190 74
-
198
$3,081,714 32
31st December, 1900
Premiums marked ofT from Is
January, 1906, to
Interest received during t!i«* y< ,r
Rent, less Taxes and Expenses
176 Broadway, New York.
175 Rem sen Street, Brooklyn.
22d, 1907.
Private Wires to
N.V. Mid Philadelphia.
Hrnftd Ht»
NEWARK.
Atlantia MatqsllmirssN Camomny
of All Taara Basiht and
Soldi.
Scrip
JOHNNo.M.
GILLESPIE,
SIS Atlantic Bnlldtng,
Room
49-61 Wall Street.
NEW YORK.
©ompaities.
Ttaist
MercantileTrust Co.
it. Louis.
50
WM. MAFF1TT.
FESTUS J. WADE.
Capital & Surplus,
Treasurer
President.
Commenced business Nov.
RESOURCES
Trust and
Banking Business
Interest Allowed on Deposits Subject to CheckActs as Trustee under Railroad and other Mort¬
gages; also as Agent for the Registering
and Transfer of Stock-
16, 1899
$1,667,051 19
A
1900
$4,429,448 02
Nov. 16.
PHILIP STOCKTON, President.
George E. Keith,
Charles F. Adams 2d.
Gardiner M. Lane.
Orlando H. Alford.
Arthur Lyman.
F. Lothrop Ames.
Maxwell Norman,
John S. Bartlett.
Robert T. Paine 2d.
Charles E. Cotting.
Andrew W. Prestoa
Alvah Crocker.
Richard S. Russell.
Livtngston Cushing.
Howard Stockton.
George A. Draper.
Charles
A. Stone,
William F. Draper.
Galen N. Stone,
Wllmot R. Evans.
Quincy A. Shaw Jr.,
Frederick P. Fish,
Nathaniel Thayer,
Robert F. Herrick.
Henry O. Underwood.
Francis L. Hlgginson,
W. Seward Webb.
Henry C. Jackson.
Winslow.
Sidney
1902
$21,882,734 64
73
Nov.16,1903 $21,766,471
16,1904 $26,608,716 93
$27,292,163 67
16,1906
Nov.
The Proof of
Good Bervice is
Constant Growth
Boston Safe
BOSTON
$2,000,000
900,000
Acts
Administrator, Trustee.
CAPITAL.
Depositary under Plans of Reorganization.
Registrar and Transfer Agent.
Assumes entire charge of Real Estate.
Safes to Rent in Burglar-Proof Vaults.
John B. Garrett,
William H. Jenks.
William H. (law,
Francis I. Gowen.
Geo. H. McFadden,
Henry Tat nail,
Issac H. Clothier.
Thos. DeWltt
Aug.
The Trust Company
of North America
Philadelphia.
$1 000 000
STULL. President.
HENRY G. BRENQLK, 1st V ce-Prea. A Treasurer.
JOS. S. CLARK. 2d Vlce-Prcs., Superv'g Trust Dept,
v HAS. P. LINEAWEAVER, Sec. A -Vast
TrustOtlieer
ADAM A.
DIRECTORS.
Cadwalader.
E. W. Clark Jr..
Echley B. Cose Jr.,
Edwin S. Dixon.
Eugene L. Ellison,
Joseph C. Fraley.
Harry
Francis.
Henry L. Gaw. Jr.,
Howard s. Graham,
Jonea,
Malcolm Lloyd.
John Mellhenny.
Richard Wain Melrs.
Clement B. New bold.
John W Pepi>er.
Wi ham F. Read.
Frank Samuel,
Adam A. Stull.
Edward D. Toiand.
Joseph R.
Frederick P. Fish.
Morris Gray.
Walter C. Bayhea.
Alfred Bowditch.
Charles F. Choate,
Alexander Cochrane,
Edmund D Cod man.
r. Jefferson Cooiklge.
Charles H. Daltoo.
George Dexter.
•
-
Philip Dexter,
William
Farnsworth.
Franklin Haven.
James R. Hooper.
Janies M. Preadergast,
George S. SUshee.
Lawrence M. Stockton.
Nathaniel Thayer,
Georsre Wigglesworth.
David R. Wh'tnev
Maryland Trust Co.
finO DOO
BALTIMORE.
Saunders Norvell Holla Wells
Ww. D.
Orthweln
CAPITAL,
WALSH. Chairman of the
BRECKINRIDGE JONES. President
JULIUS S.
Board
$2,000,000
-
DIRECTORS
Grier Hersh.
Ernest Hoen Jr..
George C. Jenkins.
Joshua Levering.
Oscar G. Murray.
Josiah L. BlackwclL
G. Ciymer Brooke,
H. Carroll Brown.
Johu W. Castles.
D. DAVIS. Yice-Preskteut
SAMUEL E. HOFFMAN. Vlce-PresJdeut
JAMES E. BROCK. Secretary
HUGH R. LYLE. Asst. Secretary
Henry F.
Shoemaker,
Speyer.
Douglas M. Wvlle.
James
OFFICERS
JOHN
GRIER
President
HERSH
2d Vice-Brest.
ZIMMERMAN
CARROLL VAN NESS
L.
IBBOTSON, Asst. Secretary
S.
NCE R Jr.
IVAN SKINNER
J ERV IS SFE
HENRY SEMPLE AMES. Asst. Executive
CHARLES M. POLK. Asst, trust Officer
WILLIAM G. LACKEY. Bond Officer
WM. MoC. MARTIN. Asst. Bond Officer
_
.Treasurer
Asst. Treusure
Asst. Secretary
_.
Officer
TOM W. BENNETT. Real Estate Officer
GEO. KINGSLAND. Asst. Real Estate
C. W. MORATH, Sate Deposit Officer
Officer
Wisconsin
Trust Co
NOW READY.
FINANCIAL REVIEW.
.
MILWAUKEE.
Capita1,
Surplus,
---------
1907 ISSUE.
$600,000
100,000
General Trust Co Business.
Buys and Sells
High Grade Investment
,
-
Joseph R. Foard,
B. Howell Grbwold Jr.,
A. Barton Hepburn.
John T. HUl,
OFFICERS
Transacts a
Bonds.
OFFICERS.
KULuFK. P^‘a'«1mt.
320 Eou/es.
yearly book of statistics covering a
of years' crop figures, money
rates, range of prices for securities, dee.
A
series
TRICE, TWO
DOLLARS.
OLIVER C.
Wainwright.
William l>. Wtnsor.
Samuel F. Houston.
Registrar.
Trim tee
Atm»
Executor
Becomes Surely
Complete Set ui
Vaults
interest on Deposits
DIRECTORS.
WUikun Endicott. Chairman.
PROFITS}^5,0'JU,UKJU-
HUNT TURNER Jr.. Asst. Secretary
LOUIS W. FRICKE. Asst. Secretary
FREDERICK STERLING, Trust Officer
Broad and Chestnut Streets,
PHILADELPHIA.
John
...
C.
N. E. Cor.
J. Levering
FRANKLIN HAVEN. Vice-President.
JAMES R. HOOPER. Actuary.
HENRY N. MARK. Secretnr- .
FREDK W. ALLEN. AsstJec-ATreas.
THOMAS E. EATON, AM*. Tleajum.
FRANCIS R. JEWETT. Trust Officer
$1,000,000
2,000,000
FINANCIAL AND FIDUCIARY
TRANSACTED
IK Ewing
HENRY C.
Cuyler,
Henry O. Brenglc.
,i;uniis Crosby Brown.
OFFICERS.
DAVID R. WHITNEY. PreaMeaC.
■
HARf.ra H. DALTON. Vice-President.
CHARLES F CHOATE. Vice-President.
DIRECTORS
Augustus I). Jullllard
Edward J. Berwlnd.
Randal Morgan.
Edw. T. Stotesbury,
Charles E. Ingersoll.
John Story Jenks Jr.
Henry B. Coxe Jr.
E. C. Felton.
603-505-507 Chestnut St.,
Bonds.
D. R. Francis
R. J. O'Reilly.MD
August Gehner
Henry W. Peters
S. E. Hoffman
H. Clay Pierce
Murray Carle ton
Chas. H. Huttig J. Ramsey Jr.
Charles Clark
Breckin'ge Jones James E. Smith
Horatio N. Davis W. J. McBride
Robt. H. Stockton
John D. Davis
Nelson W. McLeod Julius S. Walsh
C. Hartman Kuhn,
James Speyer.
CAPITAL
and
Assgnees, Guardians.
Trustees, Corporations
Individual.
Also acts as Trustee under Mortgages and as Transtar
Arent and Registrar of Stocks and
Interest Allowed cm Deposits Subject to Check.
John I. Beggs
Wilbur F. Boyle
James E. Brock
MANAGERS:
Richards
and
BUSINESS
and Treasurer.
Benjamin \V.
deposit from
Trustee.
SURPLUS
GENERAL
EDWARD S. PAGE. Secretary.
Jr.
and
Authorised to act as executor and to receive
houl aiooey or property la trust or on
Courts of Law or Equity, Executors. Administrators.
Deposits Subject to
and
E. B. MORRIS, President.
W. N. ELY. 1st Vice-President.
A. A. JACKSON, 2d Vice-President.
C. J. RHOADS. 3d Vlce-Prcs.
Effllngham B. Morris,
$3,000,003
Mississippi
Valley Trust Co.
Fourth & Pine Sts., St. Louis
Corporations.
Allowed on Individual and
Corporation Accounts.
Trustee of Corporation Mortgages.
Interest
John A. Brown
CAPITAL, *1,000.000 SURPLUS
Safe Deposit Vaults
E. GOODSPEED, Treasurer.
W
L. WHITNEY, Asst. Treasurer.
HENRY A. FENN, Sec.AMgr.Safe D.D*t.
H. D. HEATHFIELD. Assistant Sec.
F. J. UURKAGE, Assistant Secretary.
Assignee and Receiver.
Financial Agent for Individuals or
Acts as
Stephen M. Weld.
Charles W. Whittier.
ENGLAND
TRUST COMPANY,
G.
SURPLUS,$10,000,000.
Executor,
Nathaniel Thayer,
Lucius Tuttle.
Reginald Poster.
George P Gardner,
Robert P. Hemck,
CHARLES E. ROGERSON, President.
JAMES LONG LEY
Vice-President.
WILLIAM C. WILLIAMS, Vlce-Pres’t.
CHARTERED 1836.
as
2d,
Saltonstall,]
Philip L.
BOARD OF
TRUST
Girard Trust Company*
Acts
as
on
Capital - * - Surplus (Earned)
McDowtoX. Asst Secretary.
CAPITAL and
Richard Diner.
Robert J. Paine.
Frederick P. Fish.
MASS
Mortgages
Guardian, Administrator and
SKINNER. Amt. Cashier.
WILLIAM W. GATES. Amt. Cashier.
A. G. MANG. Secretary.
DEPARTMENTS.
L. Meyer,
Laurence Minot,
Eben S. Draper,
Check
Trustee under Railroad and other
and is authorized to act as Executor,
Allowed
Interest
D.
SAVINGS AND
George v.
BOSTON, MASS.
a
General Trust
Banking Business.
PrwWenC
Vtee-Presklent.
A. UHRLAUB, Vice-President.
WILLIAM R. DAWES. Cashier.
BANKING,
Chairman
Henry S. Howe.
Walter Hunnewell,
Thomas L. Lrvermora,
Charles s. Mellen,
Philip Dexter,
Deposit
Transacts
CHARLES G. DAWES,
W. IRVING OSBORNE.
MALCOLM
Jr.
Charles S. Cotting,
Trust Company
CHICAGO
L.
DIRECTORS:
BOARD OP
T. Jbitkbson Coo lido e
Gordon Abbott,
Oilvor Ames.
C. W. Amory,
Charles P. Ayer,
Samuel Carr,
B. P. Cheney,
T. Jefferson Coolldge,
AND
ILLINOIS,
Capital, - - « 7 Surplus and Profits -
INTEREST
SUBJECT
The NEW
CENTRAL
TRUST C6MPANY
OF
GENERAL
A
ALLOWS
BUSINESS.
DAILY
BALANCES
$27,984,699 63
16, 1906,
Nov.
$7,000,000
-
BANKING
ON
TO
TRUSTEE UNDER MORTGAG¬
legal Depositary for Court Funds, and author¬ CHECK.
ized to act as Executor, Guardian. Ad¬
ES.
TRANSFER AGENT.
REGISTRAR.
TRANSACTS
and Trustee.
DIRECTORS.
$11,780,418 95
Nov.
Capital and Surplus,
ministrator
Nov. 16, 1901
16.
BOSTON, MASS.
$4,000,000
-
-
MASS.
Transacts a General
Nov. 16.1899
Nov.
BOSTON. MASS
STREET.
STATE
BUNKER HILL
City Square. CHARLESTOWN
Association
Capital and Surplus, $9,500,000
CO. OLD COLONY
TRUST CO.
BRANCH;
TRUST
CITY
Mo
Clearing House
St. Louis
Member
XIX
THE CHRONICLE
1907.
June 1
Etc
Sale Deposit
ERL.DERICK KASTEN, Vice-President
GARDNER P. STICKSEY
treasurer.
FRED t
iiE.-T Secretary
R. L. sMLl l H. Ac,
Secretary
Chronicle,
76J-2 Phie Street, New York.
Commercial & Financial
[Vol. Lxiny,
THE CHRONICLE
XX
%xn&\ ©trmjrautes.
MANHATTAN
BANKCRS TRUST
C OMPANY
TRUST
WALL ST.
$3,000,000.
Surplus $600,000
Profits, $828,069
Capital $ 1,000,000
Undivided
DIRECTORS.
A. BARTON
Pros. Bank of the
Ce., New York.
EDWARD F. 8WINNEY,
HEPBURN,
Pres. 1st Nat. B’k, Kansas
Pros. Chase Nat. Bank, N. Y,
Manhattan
Vice-President.
9d Vice-President.
Pres. Seaboard Nat. Bank, N Y.
GATE8 W. McGARRAH,
EDWIN M. BULKLEY,
Pros. Mechanics’ Nat. B’k, N. Y
Spenoer Trask ft Co., Bankers,
New York.
EDGAR L. MAR8TON,
Blair A Co., Bankers, New York.
JAME8 G. CANNON,
Ties-Proa. Fourth Nat. Bk. N Y
J. P. Morgen k Co„ B’kers, N.Y.
President,
HENRY P. DAVISON
Yioe-Pres. First Nat. Bank, N.Y
WALTER E. FREW,
GILBERT G. THORNE,
Vtoe-Pres. Nat. Park Bank. N.T.
EDWARD TOWNSEND.
Ylee-Pres. Chase
New York.
Nat.
Bank
WtJLLIA51.lii
N?tRiIfi,RW
Pres. Chemical Nat.
Bank, N. X.
8AMUEL
WOOLVERTON.
^^tln Nat. Bank, N.Y.
DANIEL G. REID,
EDWARD F. C. YOUNG.
t
Vice-Pres. Liberty Nat. B’k, N.Y.
Pres. 1st Nat. Bank. Jersey City
Vice-Pres. Com Bxoh. Ba„ If. Y.
Aeta as Executor, Administrator and Guardian t Assignee and Receiver t Registrar*
Transfer and Fiscal Agent t and as Trnstes for Individuals and corporations.
ALLOWS INTEREST UPON DEPOSITS.
J. F. THOMPSON
VirlvCnWi
E. C. CONVERSE
0. E. POMEROY
B. STRONG JR.
8KCBJBTJLBT
PRSSIDCNT
TBIA8TJKIB
The Manhattan Trust Company rooelves deposits
bearing Interest and subject to cheque, payable
through the Now York Clearing House.
DIRECTORS.
James J. HilL
Francis R. Appleton.
Bebert Bacon.
John Kean.
John J. Mitchell.
George F. Baker.
August Belmont.
Walter P. Bliss.
H. W. Cannon.
B. J. Cross.
Rudolph Hilts.
Oliver H. Payna
H. D. Randolph
Grant B. Schley.
8. Lb Bchoonmaksv.
John L Waterbury
R. T. Wilson.
Amos Tuck French
T. W. LAMONT
SfcD VTCS-PRJMIIDSKT
OFFICFBQ
YIGB-PRX8IDKNT
Pre8,dent*'
PreeJmsorters’ ATradenTNat.
Bank, N. Y.
ALBERT H. WIGGIN,
GEO. W. PERKINS,
EDMUND C. CONVERSE,
City.
OFFICERS,
JOHN L WATERBUKY, President
JOHN KEAN,
) T,
AMOS TOOK FRENCH, l
W. N. DUANE,
)
JOHN F. TH0MP8ON,
TH0MA8 W. LAMONT,
3AMUEL G. BAYNE.
NA88AU. NEW YORK.
Capital, Surplus and Undivided Profits,
Street, New York.
7 Wall
STEPHEN BAKER.
eor.
CO.,
The American Mfg. Co.
F. N. B. CLOSE
H. W. DONOVAN
ASSISTANT TRUST OVTIQIS
ASSISTANT TBSASUR1B
MANILA SISAL AND JUTE
CORDAGE.
65
Wall
New
8treet,
York.
gugtuejers.
H.
Brlnckerhoff,
M.
Formerly General Manager and Electrical
Engineer the Metropolitan West Side Ele¬
vated RR., Chicago,
ASSOCIATED WITH
Wm.
Barclay Parsons,
Consulting Engineers
NEW YORK
60 WALL ST.,
Examinations, Design, Construction and
Operation
ELECTRICAL PROPERTIES
WinoIsTrusl& Saving s Bank
Unsatisfactory Operation Investigated.
CHICAGO
Capital and Surnlus,
-
-
-
$11,800,000.
Pays Interest on Time Deposits, Current and Reserve Accounts.
Deals in Investment Securities and Foreign Exchange.
Transacts
a
General
Trust
H. M. By llesby & Co.,
INCORPORATED
ENGINEERS,
DESIGN,
LIGHT, POWER,
RAILWAY
Business.
OPERATE
CONSTRUCT AND
HYDRAULIC AND
INVITED
or
■
OAS PLANTS.
CORRESPONDENCE
-
1
■-
Examinations and
American
GUNN, RICHARDS & CO.
CHICAGO
Trust Building.,
j. G. white
&
co.,
Engineers, Contractors,
43-49 Exchange
PUBLIC ACCOUNTANTS
Reports.
Plac,
•
NEW YORK
Investigations and Reports on Eleetrle
Railway, dan, Elwrric Light, and
Power Transmission Properties
for Financial Institutions
and Investors.
43
EXCHANGE
PLACE, NEW YORK CITY
Eleetrio Hallways, Electric Light and Electri«
Power Plants Financed, Designed and Built*
London
Correspondent:
J. G. WHITE A CO..
’
Also at CHICAGO—First National Bank
Building,
MONTREAL—Bank of Ottawa
BOSTON—AO Congress Street*
Building.
Limited,
9 Cloak Lane, Cannon St,, E. C.
Canadian
Correspondents:
CANADIAN WHITE CO.,
Montreal.
Principal
Limited,
Philippine Oflec, Manila.
P. I*
June
xn
THE CHRONICLE
11907H
grass eowpsuttn.
Bowling Green Trust Co.
incorporated 1853.
BROADWAY* NEW YORK.
26
Dnittf states Tnist Seeps ol )tes Tori,
Capital, $1,000,000 Surplus, $8,060,069
OFFICERS:
EDWIN GOULD,
.
WILLIAM H. TAYLOR,
-
.
45 and 47 Wall Street.
Preiidamt
.
lit Vioe-Presidemt
ARMSTRONG,
84 Vice-President CAPITAL,
JOHN A. HILTON, 8d Vice-Pres. and Treai. SURPLU8 AND UNDIVIDED
WILLIAM M. LAWS,
.
.
Secretary
$2,000-000
0HAS. P.
DIRECTORS:
John A. Hilton.
Charles P. Armstrong,
Frank Brain&rd,
Harry Bronner,
Myron T. Herrick,
yrankMn %. Brown,
Robert O. dowry,
Edmund O. Converse,
Wm. Nelson Cromwell,
Grenville M. Dodge,
A.
Ctoepel,
Edwin Gould,
Frank J. Gould, '
George J. Gould.
Edward T. Jeffery,
Winslow 8. Pie roe,
Morton F. Plant,
Dlok S. Ramsay,
Frederick B. 8oftenek,
Androw Sguire,
William H. Taylor,
Edward R. Thomas,
John P. TruesdeU,
E. F. O. Yonng.
WILFRED J.
TRUST CO.
No. 66
*
$12,801,046
.
•
D. WILLIS JAMBS,
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, Second Vice-Pres.
Vice-President
HENRY B. AHERN, Sesrstary
CUAS. A. EDWARDS, 2d Asst, Secretary
WORCESTER, Aest. Secretary
JOHN A. STEWART, Chairman
xo^«o0
+■
PROFITS,
of the Board of Trustees.
Gttp ©rust (ftmnpatig of Amrrira
BROADWAY
135
CEploaiial^ra^ich
BROADWAY,
BRANCH
new York
36
BROADWAY
222
WALL ST.
34TH ST. Sc FIFTH AYE.
No. 100
WEST 125TH STREET.
THIRD AVENUE A 148TH
STREET.
PAYS
CHARLES T. BARNEY, President.
FRED’K L. ELDB1DQE, 1st Yloe-President.
JOSEPH T. BROWN, 8d Vice-President.
B. L. ALLEN, 8d Vtoe-Presldent.
WILLIAM TURNBULL, 4th Y.-Pre
fRBD’K GORE KING, See. and Treat.
J. Mo LEAN WALTON, Asst. Secretary.
HARRIS A. DUNN, Asst.
INTEREST ON
DESCRIPTION
CREDIT PAYABLE
OF EVERY
EXECUTES TRUSTS
ISSUES
DEPOSITS
LETTERS OF
THROUGHOUT THE
WORLD
Treasurer
TRUST DEPARTMENT:
WILLIAM B. BAND ALL, Trust Officer,
HARLEM BRANCH:
W. F. LEWIS, Manager.
We refer you to
BRONX BRANCH:
Manager.
JOHN BAM BEY
Rhode Island
Trust
3£hje Corporation £rust Co.
Hospital
Company,
R. I. J
PROVIDENCE
CAPITAL
81,000,000
SURPLUS EARNINGS
UNDIVIDED PROFITS
81,600,000
37
Robert H. L Goddard,
Geo. W. R. Matteson,
William D. Ely,
Robert L Gammeli,
William Bioney,
William B. Weeden,
Edward D. Pearce,
Robert Knight.
John W. Danielson,
Herbert J. Wells,
John C. Pegram,
Howard 0. Sturges,
laws of any
Stephen O. Metcalf,
for information
the organization
corporations under the
of the States or Territories.
Walter R. Callender,
Gilbert A. Phillips,
Edward Holbrook,
James E. Sullivan,
Benjamin M. Jackson,
John R. Freeman,
Charles 8. Mellon.
Robert W. Taft.
The audit company
of New York,
ORGANIZED 1807.
NEW YO&K:
48 Cedar Street
PHILADELPHIA.
CHICAGO.
NEW ENGLAND OFFICE:
Bs«tas Hld«., 16 Rials Hi., BOTTOM,
Frick Bldg., PITTSBURGH, PA.
AUGUST BELMONT,
Acting President.
JOHN J. MITCHELL
WILLIAM A. NASH,
GEORGE W. YOUNG,
•
Vloc- Presidents.
EDWARD T. PEKINH, Gen’l Mgr. and Treat.
F. O. RICHARDSON. Assistant Treasurer.
This Company Audits and Investigates Accounts
and makes Physical Examinations of Properties.
Its Certificates and Reports are Prepared in behalf
of Merchants, Bankers, Corporations. Committees
and others, in strict confidence. The Company also
Devises and Installs Money-Saving Systems o’
Keeuitnr Account*
William D. Marks,
Ph. B.C.E.
Consulting Engineer and Statistician.
GAS WORKS
ELECTRIC LIGHT WORKS,
ELECTRIC RAILWAYS. OIL MOTOR CAR8.
New York City.
Experienced inJMunlolpal Causes
New York,
and taxation of business
Rowland G. Hazard,
Neison W. Aldrloh,
Samuel R. Dorrance,
Lyman B. Gofl,
HERBERT J. W ELLS, President.
EDWARD S. CLARK,Yloe-Presldent.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAM WELL, Secretary.
PBE8TON n. GARDNER, Trust Officer.
CYRUS K. LA PH AM, Asst. Sec’y.
JOHN E. WILLIAMS, Asst. Sec’y.
HENRY L. SLADER, Asst. Seo’y.
WALTER G. BROWN. Asst. 8ec»r
623 Pa k Row Bldg.
Street,
regarding any point involved in
470,000
DIRECTORS:
Royal C. Taft,
Wall
i‘IT MIGHT
INTEREST YOU
that the total maintenance expense
to know
of parts for our entire plant
of 3,000 switches for
City Tele¬
TELEPHONE
months has been $10 24," writes Supt. J. A. Duncan of the Sioux
phone Company, Sioux City, Iowa.
(This company operates our AUTOMATIC
the
past eighteen
SYSTEM.)
“A LIKE SVIU
take care of the
size,” adds Mr. Duncan.
would perhaps
same
to see It.)
repair cost on operators’ chairs in a manual exchange of
(We’ll be glad to send you a copy of his letter If you’d
,
IT OCCURS TO US
that the one Item of switchboard cords alone for a manual exchange of
to at least $150 In eighteen months.
That Is fifteen times the cost
Sioux City
the
like
3,000 lines would amount
of all repair parts on the
automatic exchange.
THAT IS 0*»/Y
ONE
economies all. help to swell
the highest rates.
led to the adoption
economies of the AUTOMATIC SYSTEM. These
tho profits.
And the AUTOMATIC, being the best service, commands
Low production cost plus high selling price equals big dividends.
That Is what
oFthe AUTOMATIC TELEPHONE SYSTEM In the following cities:—
of the many
Aberdeen
8. D.
Akron, Ohio.
Allentown, Pa.
Auburn, Me.
Auburn, N. Y.
Battle Creek Mich.
Beaver Falla, Pa.
Bellingham. Wash.
Butte, Mont.
Cadillac. Mich.
Champaign. Ill.
Chicago, Ill.
Cleburne, Texas.
Columbus, Ga.
Columbus. Ohio.
Dayton, Ohio.
Denver Colo.
El Paso, Texas.
Emaus. Pa.
Fall River. Mass
Grand Rapids Mich.
Hastings. Nebr.
Havana, Cuba.
Hazleton. Pa.
Holland. Mich.
Hopkinsville, Ky.
Jonesboro. Ark.
Lake Benton, Minn.
Lewiston, Me.
Lincoln, Nebr.
Los Angeles, Cal.
Manchester, Iowa.
Martanao. Cuba
Marlon. Ind.
Medford, Wls.
Mlamlsburg Ohio.
Mt. Olive. Ill.
New Bedford. Mass.
Oakland, Cal.
Ocean Park Cal.
Omaha. Nebr.
Pentwater. Mich.
Portland. Me.
Portland. Ore.
Princeton, N. J.
Richmond, Ind.
Riverside. Cal.
Rochester, Pa.
RushviUe. Ind.
San Diego. Cal.
San Franolsoo. Cal.
Santa Monica, Cal.
Saskatoon. Saak., Can.
Sioux City Iowa.
South Bend. Ind.
Spokane. Wash.
Springfield. Mo.
St. Mary's, Ohio.
Tacoma, Wash.
Toronto, Junction, Can.
Traverse City, Mick.
Urbana, Illinois.
Van Wert. Ohio.
Walla Walla Wash.
Wausau Wls.
Westerly. R. I.
Wilmington, Dti.
Woodstock. N. B.
Can.
AUTOMATIC ELECTRIC CO.,
Van Buren and
Morgan Streets
CHICAGO U.8.A*
[V OL.
THE CHRONICLE.
xxn
Hfiturocial.
IPtmucial*
Cotton,
WOODWARD
STILLMAN,
&
16 to 22 WILLIAM
FAR WELL
ffoER5Z;ffCOMB»NY
MERCHANTS
COTTON
EGYPTIAN AND AMERICAN qpTTON OF ALL
GRADES SUITABLE TO WANTS OF 8PINNER8.
CHICAGO.
NEW YORK
~
CHICAGO
NEW YORK.
Street,
226 La Salle
37 PINE ST.
220 LA SALLE ST.
COMPANY,
TRUST
BANKERS
STREET,
LXXXIV.
CAPITAL-
RAILROAD BONDS
-
$1,500,000
-
President
Vice-President
G. LESTER, Vice-President
BAR&Y SEARS, Treasurer
GRANGER FARWELL,
Kara bushed nr M#e.
DOUGLAS SMITH,
Henry Hentz & Co., CHICAGO CITY MORTGAGES.
COMMISSION MERCHANTS,
16
22 William Street, New York,
HIGH-GRADE INDUSTRIAL BONDS
Orders for Future JMH$ery
COTTON
Liverpool and New Orleans CHICAGO REAL ESTATE BONDS.
Alee orders lor
CORPORATION l RAILROAD BONDS.
New York Cotree Exchange
ALBERT
JOHN
JOHN J. BRYANT JR., Secretary
to
JSflMteute
At the New York.
LOANS
Cotton Exchanges.
COFFEE
At the
GRAIN AND PROVISIONS
Board of Trade and
GRAIN AND COTTON-SEED OIL
At the New York Produce Exchange
Hubbard Bros. & Co.,
COFFEE EXCHANGE
BONDS.
CIRCULARS.
SEND FOR
at the Chicago
COLLATERAL.
ON
INVESTMENT
SECURITIES.
PEABODY, HOUGHTELING & CO.
181 La Salle Street*
BUILDING,
CHICAGO.
HANOVER ISOUARE.
L Established
IStift. i
NEW YORK.
MERCHANTS.
COTTON
Edwin L. Lobdell &
BABKEBS AMD
Liberal Advances Made on Cotton
Consignments.
Co.,
F. H. PRINCE &
BB0KEB8,
Rookery Bldg., Chicago.
Broadway, New York.
( New York Stock Exchange^
Rotunda*
80
Hopkins, Dwight & Co.,
BANKERS.
BOSTON, MASS.
Exchange,
(Chicago Board of Trade.
Members < Chicago Stock
COTTON,
and
COTTON -SEED OIL.
COMMISSION MERCHANTS.
Room 0!i,
Cotton Exchange
Building,
Orleans, La.
Lehman, Stern & Co., Limited, New
Building.
Mills
LEHMAN BROS.,
Non, 16*22 William Street, Now
Members of
Exchange.
Members of New York
15 Broad St.
-
©OttOtt.
tn
Cotton
CO.,
&
INMAN
York,
Orders executed on the above Exchanges, as well
New Orlekns, Chicago and foreign markets.
merchants,
l Established
AUGUSTA, GA„
Siegfr. Gruner & Co.,
MERCHANTS
COTTON COMMISSION MERCHANTS,
NEW ORLEANS, LA.
MEMPHIS, TENN.
DALLAS, TEX.
cuted in the New Orleans, New
Lord’s Court Building,
27 William Street.
NEW
TeL No. 1018 Broad.
York,
BROKERS,
New York.
-
NEW YORK 8TOCK
CO.,
EXCHANGE.
CLEMENT & SMITH,
YORK
Successors to HAVEN &
Cotton Merchants.
Members
Orders for Contracts Exe¬
Buyers of Spot Cotton.
96 Broadway,
SONS*
MEMBERS OF
W. R. CRAIG &
Co.,
BANKERS AND
INMAN & CO
Correspondents,
Bremen
17 Sooth William Street,
NEW YORK.
Mason Smith &
YORK,
141 Milk Street, BOSTON, MASS.
Exchange Building, NEW
Cotton
1803. |
W. T. HATCH &
AND
COTTON
and Boston Stock Exchange#
York,
the Stock, Cotton, Coffee
and Produce Exchanges, New
Investments.
High-Grade
Bishop, Laimbeer & Co.
Menribere New York Stock
NEW YOUK.
CO.,
(NEW YORK COTTON EXCHANGE
(NEW ORLEANS COTTON EXCHANGE
CLEMENT,
1 Nassau Street, corner
EXCHANGE
ILIVERPOOL COTTON ASSOCIATION
Future Delivery Orders Executed on above Exchanges
Liberal Advances Made on Cot'ton Consignments
NEW YORK COFFEE
Members of the
Wall Street
New York Stock Exchange.
Bonds, Stocks, Cotton, Crain.
Liverpool and Havre Markets.
LEHMAN BROS., New York.
WILLIAM RAY & CO.,
SUCCESSORS TO
GEO.
COPELAND & CO.,
COTTON
BROKERS,
43 Cotton Exchange,
New York,
Orders for future delivery contracts executed on
the New York and Liverpool Cotton Exchanges.
R. H. ROUNTREE &
CO.,
Commission Merchants.
Cotton, Grain, Provisions and Coffee.
COTTON EXCHANGE BUILDING,
rORK.
NEW YC"~
ROBERT MOORE & CO.,
5(1 Beaver Street, New Yerk,
ORDERS FOR FUTURE DELIVERY HXECUTED IN NEW YORK AND LIVEfttPOOL «XCHANGES.
COTTON PURCHASED FOR SPINNERS’ USE.
SMITH
&
HAYNE,
Frank B. Hay ns (In Comznen&aia.)
Cotton Brokers,
COTTON EXCHANGE BUILDING,
NEW ORLEANS, LA.
ORDERS FOR FUTURE DELIVERY EXECUTED
IN NEW ORLEANS, NEW YORK AND
LIVERPOOL MARKETS.
DICK
Lehman, Stern & Co.?Lt(L
BROTHERS & CO.,
BANKERS AND BROKERS,
30 Broad St.,
New York.
COTTON FACTORS and
C0MM1SS0N MERCHANTS,
Y. and Philadelphia Stock tacnangs#,
York, New Orleans ana Liverpool Cotton
Exchangee. New York Octree Exchange
and Chicago Board of Trade
Members of N
.
New
Mew Orleans.
Orders'for future delivery executed In New Orleans
New York and Liverpool.
Liberal advances made on Cotton consignments.
(Colton.
Chapman, Selter &> Allen,
Stephen
M. Weld & Co.,
COTTON MERCHANTS,
COTTON BROKERS.
Cotton Exchange
Bldg., New York.
82-92 Beaver
Members of N. Y. and New Orlean Cotton Exchanges
and Liverpool Cotton Association.
MERCHANTS,
'
49 Cotton Exchanqe,
Wm. P.Quentell.
-
R R. Goats.
-
New York.
Theodore H. Price,
Quentell, Coats & Co,,
COTTON BROKERS,
82 Beaver Street,
...
New York
Members N.Y. Cotton Exchange.
Associate Members Liverpool Cotton Association.
-
New York City.
M. Wkld A Co.,
Liverpool Correspondents, Weld A CO.
Correspondents, Albrecht, Weld
GWATHMEY & CO.,
COTTON
Street,
Boston Correspondents, S.
State St., Boston, Mass.
Bremen
/
81
A Co.
Geo. H. McPadden & Bro.,
COTTON
MERCHANTS,
PHILADELPHIA.
NEW YORK.
Liverpool Correspondents:
FREDERIC ZERKGA A
Bremen Correspondents:
.
™
CO,
„
MCFADDEN BROTHERS St CO,
Havre Correspondents :
Societe D’Lmportation it de Commission
@FedFRASER