Full text of Commercial and Financial Chronicle : June 15, 1907, Vol. 84, No. 2190 [Copy 2]

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B a n k a n d Q u o t a t i o n S e c t i o n (Monthly)

S t a t e a n d C i t y S e c t i o n (semi-Annuai^

R a i l w a y a n d I n d u s t r i a l S e c t i o n (Quarterly)

S treet

R a ilw a y

S e c tio n ( ^

NO. 2190

SATURDAY, JUNE 15 1907.

VOL. 84.
■ g fe *

1907.

PUBLISHED WEEKLY.

T e rm s o f S u b s c r ip tio n — P a y a b le in A d v a n c e
F o r O n e T e a r .......................................................................................... ............... .$ 1 0 00
F o r S ix M o n t h s ...........................................................................................................
6 00
E u ro p e a n S u b s cr ip tio n (in c lu d in g p o s t a g e ).................................................. 13 00
E u ro p e a n S u b s crip tio n f ix m on th s (in c lu d in g p o s t a g e )..........................
7 50
A n n u a l S u b s cr ip tio n in L o n d o n (in c lu d in g j r s t a g e ) ............................... £ 2 1 4 s .
S ix M o n th s Subw cription in L o n d o n (in c lu d in g p o s t a g e ) ........................ £ 1 1 1 s .
C a n adian S u b s cr ip tio n ( in d u i n g p o s t a g e ) ..................................................$11 50
S u b s cr ip tio n in c lu d e s f o ll o w i n g S u p p lem e n ts—
B vk k a n d Q u o t a t io n (m o n t h ly )
I S t a t e a n d C it y (s e m i-a n n u a lly )
R a il w a y a n d I n d u s t r ia l (q u a r t e r ly ) |S t r e e t R a il w a y (3 tim e s y e a r ly )

T e rm s o f A d v e r tis in g — P er In ch S p a c e
T r a n s ie n t m a tte r p e r in c h sp a ce (14 a g a te l in e s ) ........................................... $ 4 2 0
r T w o M o n th s
( -( t im e s ) ................................ 22 00
n u m ., c a r t .)
g l f f i S i : : : : : : : : : : : : : : : : : : lo S S
\ T w e lv e M o n th s (52 t im e s )................................ 87 00
C H I C A G O O F F I C E —P . B a rtle tt, 513 M o n a d n o ck B lo c k ; T e l. H a r r is o n 401 2.
L O N D O N O F F I C E —E d w a r d s & S m ith , 1 D ra p e r s ’ G a rd en s, E . C.
W f L ,L ,!A I ? I

II. 0 A N A

C O M P A N Y , P u b lis h e r s ,

P in e S tr e e t, C o r n e r o f P e a r l S tr e e t,
P o s t O ff ic e I J o x 9 5 8 .

NEW

Y O R K ..

CLEARING HOUSE RETURNS.
The following table, made up by telegraph, & c., indicates
that the total bank clearings of all the clearing houses Oi
the United States for the week ending to-day have been
$2,614,288,956, against $2,834,637,838 last week and
$2,795,624,409 the corresponding week last year.
Clearings— Returns by Telegraph.
W eek ending June 15.

Seven cities, 5 days..............- .................
O ther cities, 5 days__________________

P er
Cent.

1907.

1906.

S I,235,423,659
133,473,736
113,216,702
25.418,082
212,208,861
54,184,017
14,174,111

$1,347,708,587
124,540,667
117,665,827
21,529,357
173,706,922
48,441,121
13,204,540

— 8.3
+ 7.2
— 3.8
+-18.1
+ 2 2 .2
+ 11.9
+ 7.3

$1,788,099,168
401,002,097

$1,846,797,021
355,986,487

— 3.2
+ 12.7

$2,189,101,265
425,187,691

$2,202,783,508
592,840,901

— 0.6
— 28.3

$2,614,288,956

$2,795,624,409

— 6.6

The full details for the week covered b y the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up b y the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all casss 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
d a y noon, June 8 , 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 2 .0 % . Outside of New Y ork the increase over
1906 is 14 .8% .
W eek ending Jun e 8.
Clearings at—
1907.

1906.

S
$
New Y ork - ___ 1,635.016,922 1,732,598,786
Philadelphia . . _ 148,548,773
146,377,842
Pittsburgh____ .
51.102,972
57,953,523
B a ltim ore............
30,761.504
28,364.168
Buffalo__
9,417,118
8,053,889
W a sh in g ton ____
7,626,857
7,216,014
A lb a n y _________
7,303,920
5.102,282
Rochester . 4,550,558
4,084,564
S cra n ton _____ _
2,393,816
2,000.000
Syracuse ..............
2,429,711
1.711,193
W ilm ington. _
1,454.460
1,182,210
Reading .
-----1,419,933
1,171,744
Wilkes-Barre . 1,339,896
1,124.779
Wheeling
_____
1,057,943
949,321
<ireensburg ____
526,433
685,246
680,480
539,080
E r i e ____________
548,209
C h e s te r ________
567,259
598.900
B in gh am ton ____
515,800
Franklin ______
319,947
278,049
H arrisbu rg .........
1,279,675
824,189
Total M id dle.. 1,915,247.628! 1,994,430,337




Inc. or
Dec.

Week ending June 8.

Clearings at—

© fe w y w it lje .

1905.

$
%
— 5-6 1,472,648,604
+ 1.5
136,736,335
+ 13.4
47,090,376
+ 8.4
22,223,823
6,599,014
+ 16.9
+ 5.7
6,042,538
+ 43.2
3,9.53,537
+ 11.4
3,514,127
2,299,826
+ 19.7
1,545,694
+ 41.9
+ 23.0
1,169,397
+ 21.2
1 ,019,575
+ 19.1
1.046,978
+ 11.4
693,955
— 23.2
525,827
+ 26.2
502,034
533,273
+ 3 .5
504 800
+ 16.1
269,946
+ 15.1
+ 55.3
..............

1904.
S
979,612,029
89,569,328
39,290,791
20,60S.500
6,632,429
5.161,024
4.478,245
2,685.808
1,598,531
1,199,356
977,975
1,030,262
899,883
640,798
438,700
493,626
443,176
481,900
233,808
..............

S
168,192,295
7,354,900
4,1.50,715
2.607,635
2,101,402
2,179,261
1.643,708
1,050,885
876,936
568,850
582,301
191,308,884
258,491,629
28.296.90C
17.917,93<J
15.344,827
11,434.30S
9,085,625
5,921,800
3.877.998
3,290,887
2,739,821
2,272 ,886
1.977,274
1.300.898
963,524
923.545
922,285
608,965
720,00(1
493,103
664,400
473,368
517.715
419,931
540,497
607,282
508.141
285,814
300,000
173.740
371,075,103
40,711,272
13,733,070
10.088,225
7,939,977
5,910.218
6,544,716
3,008,296
5,209,720
1,013,752
629.948
450,000

Boston ________
P r o v id e n ce _____
H a rtfo rd _______
New H aven_____
P o rtla n d _______
Springfield______
W orcester______
Pall R iv e r______
New Bedford____
L o w e ll__________
H olyok e......... ......
Total New Eng.
C h ica go________
Cincinnati______
C le v e la n d ______
D etroit__________
M ilw a u k ee_____
Indianapolis____
C o lu m bu s______
T o le d o __________
P e o r ia __________
Grand Rapids__
D a y t o n ________
E v a n s v ille _____
K ala m a zo o _____
Springfield, 111__
Y ou ngstow n____
Fort W a y n e ____
L exin g ton ______
A k r o n ..................
R ockford ______
Canton__________
Q uincy................Decatur _____
Mansfield____
Springfield, Ohio
Bloom ington____
South Bend____
Jacksonville, 111
Jackson _______
Ann A rbor_____
Tot. M id.W est.
San Francisco__
Los A n geles..
Seattle______
P o r tla n d ____
Salt Lake City___
Spokane______
Oakland______
T a co m a ______
Helena _______
Fargo _______
Sioux F a lls ___
San Jose_______
Total Pacific
95,239,194
Kansas C i t y ____
32,839,750
Minneapolis..
22,097,327
Omaha______
12,401,104
St. Paul_____
9,152,093
D enver______
7,838,713
St. Joseph______
7.119,943
Des Moines . .
3,144,703
Sioux C ity__
2,830.992
L in c o ln _____
1,545,710
D avenport______
1,406,458
W ich ita _____
1,677,339
Topeka _____
1,049,269
Colorado SDrings
700,000
Cedar Rapids___
753,005
P u e b lo __________
564,636
F r e m o n t_______
497.798
105,618,840
T ot. oth.W est.
St. Louis_______
65,004.279
15,719,112
New Orleans____
L o u is v ille ______
13,431,046
12,541,217
H o u s t o n _______
6,027,500
G a lv e s to n ______
R ich m o n d ______
6,333,809
M em phis..............
4,169.581
A t la n t a ________
4 ,427.79K
Nashville ______
3,*83,411
Savannah ______
2,864,046
N o r fo lk ________
3,133,873
Fort W orth _____
3,793.865
Birm ingham ____
2,279.624
M o b ile * _____
1.461.287
1,440,000
Chattanooga____
K n o x v ille ______
1.859,127
Augusta________
1,246.067
1,591,800
Jacksonville
1.160.000
Charleston______
1,373,062
Little R o c k _____
650,000
M a c o n __________
1,100.000
W a c o ___________
.567.577
B eaum ont______
156.148,189
Total Southern
Total all______ |2,834,637,838
Outside N. Y _ . 1,199,621,916
Caaada—
M ontreal_______
T o r o n to ..............J
W innipeg_______
O tt a w a _________
Vancouver______
Quebec....... ..........
H a lifa x ................
H am ilton..............
St. John________
London ________
C a lg a ry................
Victoria ..............
E d m on ton______
Total Canada

Tliw::

1906.

Inc. or
D ec.

1905.

1904.

s
$
$
%
140,750,280
110,865,718
151,948,466 + 10.7
+ 6.C
0,071,000
6.936.30C
7,183,200
2,831,001
2,637,437
3,480,674 + 19.5
2,241,235
2,148,542
2,355,539 + 10.7
1,550.68!
2,052,930
+ 2.4
1,815,138
1,047,437
1,489,193
+
10.1
1,877,02*
1,500,861
1,274,171
1,270,100 + 29.4
776,452
649,430
847,454 + 24.0
554,087
448,939
579,073 + 51.4
462,070
493,223
+ 0 .2
567,818
486,309
514.105
507,337 + 14.8
128,407,592
160,044,887
172,422,539 + 11.0
167,996,393
190,541,350
219,840,464 + 17.6
25,001,600
23,623,750
25.604,700 + 10.5
12,126,680
14,354,415
15,742,888 + 13.8
9,493,889
11,183,158
12,934,445 + 18.6
7,574,609
7,492,318
8,801,667 + 29.9
5,759,231
7,651,663
7,773,166 + 16.9
4,260,300
4,044,500
5,398,400
+ 9 .7
4.807,0781
3,037.983
3,830,237
+ 1.2
2,194.143
2.599,787
2,520.412 + 30.0
2,379,846 + 15.1
1,953,743
2,205,731
1,374.161
1,681,986
2,127,067
+ 6.8
1,217,250
1,399,330
1,725,921 + 14.0
812,732
1,045,820 + 2 4 .4
870,794
823,844
853,700
946,291
+ 1.8
497,511
721,276 + 2 8 .0
676,935
_______
953,049
797,035 + 15.7
564,168
629,897
623,563
+ 7.9
776,200
434,700
590,603 + 21.9
467,790
487,817
573,048
+ 1.1
019,837
494,536 + 3 4 .3
374,374
348.991
463,119
+ 2 .2
339,153
477.191
329.323
303,004
+ 8.5
450,900
327,230
217,020
— 6.9
355,431
462,932
425,464 + 27.0
381,872 + 59.0
354,838
357,477
371,513 + 3 6 .8
425,704
221,556
239,693 + 19.2
213,545
270,000 + 11.1
194,250
345,315
122 289
119,452
148,950 + 16.6
249,269,664
317,555,461 + 16.9 280,842,141
28,083,573
32,775,896
28,905,408 + 40.9
0,100,704
9,006,731
11,153,157 + 23.1
4,410,796
5,700,185
9,492,095
+ 6.3
4,711,812
3,449,109
5.028.113 + 57.9
5,339,099
2,690,675
4,520,086 + 3 0 .8
3,302,380
2,174,656
4,379,534 + 49.4
___
4,241,807 — 29.1
1,849,499
3,670,658 + 4 1 .9
3,260,005
716,043
680,669
602,575 + 6 8 .2
531,235
463.118
488,293 + 29.0
339,527
281,804
424.835
+ 5 .9
Not included in total
72,907,221 + 3 0 .6
50,190,603
65,742,913
20,415,776
22,523,573
23,591,755 + 39.2
12,9.82,904
14,837,417
17,260,963 + 2 8 .0
7,630,401
10,393,890 + 19.3
9,544.051
5,113,632
7,496.011 + 2 2 .1
6,432,532
4,284,079
6,139,353 + 2 7 .7
6,448,051
4,128,928
4,536,739
5.913,758 + 2 0 .4
2,369,632
2,899,590
2,840,290
+ 8 .5
1,277,774
1,790,903
1,986,862 + 4 2 .5
1,813,526 — 14.8
919,988
921.093
1.215,936 + 15.7
1,067,344
1,187,954
1,160,698 + 44.5
934,573
1,206,531
818.206 + 2 8 .2
582,682
731,777
748,539
433,450
473,574
554,449 + 3 5 .8
-----------380,053
408.685 + 3 8 .2
156.162
332,387
420,717 + 18.3
61,297,015
14,186,925
82,823,938 + 27-5
54,857,273
5S,445,624
58,292,083 + 11.7
18,783.101
16,581,173
— 1.2
15,915,951
11,287,082
10,141,693
12,298,010
+ 7.5
5,797,461
4,828,275
6,957,740 + 80.2
4.852,000
3,336,000
4.852,500 + 2 4 .2
5,247,040
4,208,623
5,099,010 + 11.1
5,153.910
4,516,724
—
2.0
4,263,469
3,488,078
2,913,987
3,993,269 + 10.9
3,453,422
2,544,302
3,935.091 — 13.3
4,011,366
2,864,054
3,526,637 — 18.8
2,177,660
1.782,064
2,519.702 + 24.4
2,068,044
1,293,838
2,481.064 + 52.9
1,484,684
1,084,370
1,975,613 + 15.5
1,326,808
1,009.404
— 8.2
714,399
1,3*57,380
+ 5.3
777,946
1,451.275
1,333,736 + 38.4
1,224,491
1,652.173
1,183,101
+ 5 .3
932,153
1,407.821
1,286.226 + 23.8
910,040
1,018.021
1,142,202
+ 1.6
942.059
956.602
1,012,708 + 35.6
807,246
584,144 + 11.3
435,996
318.614
1,000,000 + 10.0
450,000 -+ 2 6 .1
400,000
450,000
137,870,240 + 13.3
135.682,573
117,314,875
2,778,009,740
+ 2 .0 2,425,419,098 1,762,896,020
1,045,409,960 + 14.8 952,770,494 783,283,991

29,112,040
31,046,165
+ 6.6
26,844,709
26,505,319
+ 1.3
12,165.532
9,371,501 + 29.8
2,870,381 + 11.7
3,207,796
2,391 ,113 + 64.2
3,927.583
2,694,669
2.260,885 + 19.2
2,100,000
2,179,630
— 3.7
2,013,156
1,551,157 + 28.8
1,308,894 + 2 0 .2
1,572,558
1,235.402 + 19.8
1,479,591
1,046.607 + 55.3
1.625,308
061.427 + 59.7
1,056,419
Not
included In total
979,845
80,494,356 + 15.5
89,733,486

— 4.0 1,708.919,659 1,156,425,221
♦Decrease due to changed m ethod ot reporting.

27,068,335
19,439,484
6,474,879
3,578,815
1,800,188
2,218,449
1,840,188
1,268,129
1,143,421
1,103,196
_______
739,016

23,168,809
18,519,362
5,697,791
2,296,750
1,607,446
1,852 667
1,855,361
1.308.064
1,052,069
910,660
-----------1,009,718

66,674,100

59.278,787

THE CHRONICLE.

1392

[V o l .

l x x x iv

.

single circumstance of relative loanable funds on the
market seeking employment compared with, say,
Those who have a socialistic turn but are apparently seven years ago. Does it bear any sort of comparison
beginning to feel that in the end socialism may not be with the same class of funds now in like situation ?
the winning card, and yet do not precisely like to take
to the woods, are finding comfort in consort with the
A writer discussing, a week ago, in the columns of an
old and dusty idea that all our commercial and finan­ esteemed contemporary—a Wall Street financial au­
cial troubles, including the check our progressive era thority—this question of change in the price of capital
has received, come from a rise in the price of capital and aching apparently to make obvious the idea that
and are straining themselves almost beyond endurance such a change has taken place, states that so many
to prove their musty point. They have forgotten that people are obscure in mind as to the meaning of the
the price of an article is the figure at which the demand term “ that it is very desirable that it should be
for the article is equal to the supply. A rise in price, clearly explained.” . . . “ What then” , he asks
whether the subject considered is capital or a com­ “ is meant by rise in the price of capital.” He answers:
modity, means either that it (that is, capital or com­ “ It is exactly what is meant by rise in anything else on
modity) has reached a condition at which the demand the market.” That would seem to make the meaning
is in excess of the supply. In that state of affairs the clear. But the writer goes on to say that “ the main
situation would be expressed in a rise in the market reason for the prevalent confusion about change in
value of capital (the rate of interest) or in the lower price in capital is that such change is not ordinarily
price of the commodity. On other occasions a differ­ measured in the terms which mark rise or fall in prices
ent solvent might prevail. As the prices of commodi­ of other things.” That looks somewhat like a direct
ties are to-day,and have been in good part during the contradiction to the conclusion stated in the previous
term of prosperity we have been enjoying, higher than sentence. But such a construction is not, we think,
normal, and as rates of interest are now,and have in what is meant. The writer continues in the develop­
the average during the major part of the same period, ment of his thought by asserting that no investor says
(barring Sub-Treasury interferences) ruled lower than to-day to his broker, “ I want to get $500 instead of
normal, what becomes of the theory that there has $400 for my $10,000 capital invested in securities.
He puts the matter in another w ay; he states that he
been a rise in the price of capital?
Again, turn to our annual statistical report showing was satisfied with a 4% security last year, but that he
the world’s yield of gold in all producing countries wants a 5% security to-day. And even this does not
(the latest one for 1906 and previous years found on mean that he insists on a stock paying 5% dividend or
pages 247-250) and study the immensely increased a bond paying 5% interest. The result would be
quantity of the metal which has been poured into the equally attained if, for instance, a given security with
world’s supply during late years, and then consider a 5% interest rate for which bids were made at 125 a
whether those figures give any support to the theory year ago were now to get no higher bid than par. So
of scarcity and consequent rising value to capital. far as that security is concerned the price of capital
We would not cite this widening inflow of a precious ■would obviously have risen from a 4% to a 5% basis.”
metal as full evidence of the growing abundance of
the public holdings and the unlikelihood of demand
We-have long been surprised at finding so many of
on capital in progress being too rapid for available the individuals we meet from day to day who are wellsupply. We note it merely as a prominent tell-tale stored with knowledge and possessed with more than
of current events along those lines. Perhaps a more the average capability in solving knotty points, pro­
striking incident is the increasing percentage of men fessing themselves as having an “ obscure mind” on the
to total population possessed of great wealth in the very point this writer proposed to enlighten his readers.
civilized world and the increasing average of their in­ His proposal was consequently peculiarly attractive.
dividual holdings. This condition in the general situ­ He does not however seem to have been at all success­
ation has proved such an intolerable factor to our ful in attaining his object or at all happy in his ex­
worthy President and to the whole body of “ me too” planation. Moreover, inasmuch as the investor he
Governors in all parts of the United States, imitators refers to would have first to convert into cash his hold­
of their chief, that each, according to his capacity, is ings of securities which he is supposed to offer to his
pushing the inquiry started by their leader of how to broker at the ruling price of to-day before he could
limit the average of these holdings.
make the new investment, it would puzzle a Solomon
But we will not weary our readers with multiplying to discover what advantage would accrue by the
these bits of evidence that the world’s capital has not operation to the investor. Had he merely said in the
been on the decrease and therefore growing dearer recent words of M. Leroy-Beaulieu “ that the develop­
and hence more valuable. We may, however, be ment of industrial enterprises has been too fast for
permitted one other citation. Reference is had to the available capital,” he would have at least stated a
very large—yes, strikingly enlarged—totals of capital proposition intelligible to every one, though not bear­
our banks, bankers, trust companies, manufacturing ing on his proposal.
concerns and industrial corporations of every kind
It should be added, with respect to M. Leroy
and sort are using to-day in swinging their extremely Beaulieu’s utterance, that he probably had in mind the
extended businesses and ventures. Certainly every European condition chiefly. Had he confined his
financial and industrial department is advertising- study to the United States,no doubt a more faithful
bounteous additions to their old-time assets. Does representation of the situation here would have been
not this suggest progress in the country’s accumulation given. Beyond a doubt our disgruntled condition
of mobile wealth, overflowing treasuries of capital should be charged to an utter loss of confidence in
instead of exhausted supplies? Fix thought on the security values. In other words, the superstructure
THE FIN AN CIAL SITUATION.




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THE CHRONICLE.

1393

of credit has been undermined, and no value is low through bills against credits established by exports of
commodities. In this way the cotton and grain move­
enough to induce investors to make purchases.
ment to Europe could be financed with foreign capital.
Somewhat unexpectedly— and consequently evoking Possibly, however, expectations of profit resulting from
criticism because the necessity therefor was not ap­ such operations might not be realized, for it is now
parent— the Secretary of the Treasury on Wednesday impossible to forecast European conditions, owing to
announced the recall, for surrender by July 10, of the the existing state of unrest prevailing and to the
30 million public deposits which had been placed in prospects for its continuance.
Considering all the circumstances, it would seem
certain depositories by Mr. Shaw on September 27
1906. Mr. Cortelyou explained his recall of these that it would have been better if Secretary Cortelyou,
deposits by stating that it was to provide for the re­ instead of precipitating into the situation, the de­
demption of about 36 millions of 4s of 1907 that will ranging factor of the withdrawals of deposits from
be payable on July 1. It seems, though, that his the banks, had permitted such deposits to remain
available cash balance on that date will be amply unwithdrawn.
sufficient for the whole of such redemptions without
requiring the surrender of public deposits. Inasmuch as
President Roosevelt is unquestionably sincere in his
his recall thereof may possibly inject a disturbing desire to allay public anxiety with reference to the ef­
factor into the monetary situation if offerings of the fects of his policies, but unfortunately whenever he
4% bonds shall be tardy, his action, as stated above, makes a speech he says something that tends further
evoked some criticism. The 30 millions of deposits to unsettle confidence and thus acts in exactly the op­
were placed largely in banks located at the chief posite way from that intended. The two addresses
centres and also in several other institutions in cities he made this week at the Jamestown Exposition are of
in the West and South. It is calculated that while this character. No one likes to criticise the President
about 10 millions will be withdrawn from New York of the United States, and we regret exceedingly that
and near-by points,the banks in this city will be re­ we should be obliged to differ with him on so many oc­
quired to surrender not only that amount— that is, casions; but it seems to us that his views and policies
not only their own individual deposits— but to pro­ are simply revolutionary, and cannot be allowed to go
vide the requisitions from their country correspondents unchallenged. In this week’s speeches he elaborated
for the surrender for these correspondents of their de­ his ideas regarding a graded income tax and a pro­
posits, such requisitions being met out of the balances gressive inheritance tax. He strongly advocates both
of these correspondents in banks in this city. In and lays particular emphasis on the desirability of the
this way it seems probable that the greater part of progressive inheritance tax. He says the progressive
the 30 millions may be directly or indirectly with­ principle is peculiarly adapted to the working out of
drawn from New York banks. The local institutions the theory of using the inheritance tax for the purpose
are now carrying low cash reserves; for the remainder of limiting the size of inheritable fortunes, since the
of the month such reserves will be burdened with re­ progressive increase in the rates— we are using his own
quirements for greatly increased deposits incident to words—“ may be carried to its logical conclusion in a
preparations for the disbursement, on and after July 1, maximum rate of nearly 100% for the amount in ex­
cf interest and dividends. Moreover, it seems scarcely cess of a specified sum without being confiscatory of the
prv'bable that the payments for the 4% bonds, which inheritance.” For ourselves, we are unable to see how
will then begin, will— because of the fact that holders a proposition which would appropriate the whole of a
thereof are widely scattered throughout the country— man’s fortune above a certain sum for the benefit of
be of s.’ ch volume as to offset the surrenders of public the State differs in any essential respect from State
deposits that must be completed by July 10. Con­ Socialism, though Mr. Roosevelt takes great pains to
sequently, it appears likely that as the result of this let it be known that he is opposed to Socialism— in one
recall of public deposits, the money market at this part of his address speaking earnestly of the “ superbly
centre will be more or less tense, at least for the next self-reliant individualism” existing in this country,
thirty days.
and expressing the hope “ that it will never be ex­
If on account of such tension gold exports should changed for a deadening Socialism.” In arguing in
be checked in volume, through a fall in rates for favor of the progressive tax on fortunes, Mr. Roose­
sterling exchange on London, the money market velt throws out the suggestion that “ the tax could be
might experience some relief. But were the require­ made to bear more heavily upon persons residing out
ments of French bankers, or of the Bank of France, of the country than upon those residing within it.”
for gold to be so urgent as to lead the Bank to continue With capital so hard to obtain at present in the United
to offer the inducement of advances of credits to gold States, owing to the existing lack of confidence, it
exporters, the time-cost of such exports would be would obviously be a great advantage to have large
eliminated, regardless of our rates for money, through supplies of foreign capital to carry on our extensive
the employment of cable transfers on London for the improvement work, but we hardly think that the sug­
reimbursement of the shippers. The coincident move­ gestion here made will help us get it.
ment of gold to Paris, when the monetary situation
The most disturbing part of this week’s speeches,
here was tense, would therefore doubtless contribute however, is the President’s proposal that employers
to much stress. It may be, though, that the higher shall always be held liable in money damages to em­
rates for money here would encourage the negotiation ployees for accidents, even where the accident is the
of finance bills— bankers drawing ninety-day drafts result of the employees’ own carelessness. It should
against their foreign credits, and loaning the proceeds be understood, too, that the President’s intention in
on our market, expecting that, when such drafts were this respect is very broad. He does not mean to limit
about maturing, they could be profitably covered the application of the idea to railroad accidents,




THE CHRONICLE.

[V o l .

lx x x iv .

but to apply it to accidents anywhere and every­ with the railroads is hard enough as it is. I fail to see
where— in industrial undertakings of all kinds—1 what good could come of such a law. A railroad em­
so the matter concerns every employer. He says: ployee told a confidant that he was going to sell his
The great increase in mechanical and manufac­ forefinger for $20,000. He was a switchman. It was
turing operations means a corresponding increase in not long before the railroad nipped off his forefinger.
the number of accidents to the wage-workers em­ The switchman offered to compromise for $2,000.
ployed therein, these including both preventable The matter is still in the courts. The law in question
and inevitable accidents.
As the work is done would probably broaden the market for fingers and
for the employer, and therefore ultimately for the toes, but that it would do any one good is inconceiv­
public, it is a bitter injustice (he argues) that it able.” The reader will not fail to perceive the point
should be the wage-worker himself and his wife and of this remark. A law such as that advocated by the
children who bear the whole penalty.” He declares President would be placing a premium on accidents.
emphatically that “ legislation should be had, alike Employees would have a direct interest in having acci­
from the nation and from the States, not only to guard dents occur, since they would afford the basis for the
against the needless multiplication of these accidents, recovery of damages for injuries, however trifling.
but to relieve the financial suffering due to them.”
He makes bold to say that “ there is no sound economic
The iron and steel markets appear to be rather quiet
reason for distinction between accidents caused by just now, though there are no visible indications of a
negligence and those which are unavoidable,” and he reaction. It is not thought that the Milliken failure
thinks “ the law should be such that the payment of will have any adverse effect on the trade. Iron pro­
these accidents will become automatic instead of be­ duction is being maintained at high figures, and the
ing a matter for a lawsuit. Workmen should receive statistics collected by the “ Iron Age” of this city show
a certain definite and limited compensation for all that a new record in that respect was made in May.
accidents in industry, irrespective of negligence.” Our contemporary says that the coke and anthracite
He adds that “ when the employer, the agent of the furnaces produced 2,294,005 tons of pig iron in May,
public, on his own responsibility and for his own profit, which compares with 2,219,242 tons in April, and is
in the business of serving the public, starts in motion the very largest monthly output ever reached. It
agencies which create risks for others, he should take appears, however, that the rate of production in May
all the ordinary and extraordinary risks involved.” scarcely increased at all. Total output for the month
Lest the employer should fail to see any advantage in was larger simply because May contained 31 days and
such an arrangement, Mr. Roosevelt at once proceeds April only 30 days. The daily product in May was
to show him what he would gain—the employer would 74,001 tons, in April 73,975 tons, showing very little
“ gain a desirable certainty of obligation and get rid difference. It is pointed out that the excessive rainfall
of litigation to determine it.”
throughout the country in May affected output so that
The President then excoriates the railroads for their the performance of many furnaces was less than in
effort to have the Employers’ Liability Act passed by April, the increased number active saving the situation
Congress last year declared invalid. He speaks of from an actual decline in the rate of output. The
“ the extreme unwisdom of the railway companies in “ Age” says that Illinois, Wisconsin and Colorado
fighting the constitutionality” of that Act. He made gains in output and Alabama for the first time
says “ no law is more emphatically needed, and it in months took a real stride forward. It appears that
must be kept 011 the statute books in drastic and thor­ on June 1 the capacity of the furnaces in blast was not
ough-going form .” In order that there may be no quite equal to that for May 1, being only 522,520 tons
misunderstanding of the President’s position in that per week against 523,912 tons. It seems unlikely
regard, we quote the following paragraph in full.
therefore that June will record much if any further
“ If it is proper for the Federal Courts to issue in­ expansion in production.
junctions in behalf of railroads, it is proper that rail­
roads should be held to a strict liability for accidents
All that Governor Hughes says in criticism of the
occurring to their employees. There should be the
two-cent
bill, in vetoing it,isunassailably true. It may
plainest and most unequivocal additional statement,
bv enactment of Congress, to the effect that railroad be that some road can live upon such a maximum rate,
employees are entitled to receive damages for any acci­ and it is possible that some could even do so without
dent that comes to them as an incident of the perform­ raising commutation rates, which are lower. The
ance of their duties, and the law should be such that probable effect upon the roads is not the worst feature;
it will be impossible for the railroads successfully to
fight it without thereby forfeiting all right to the pro­ the headlong impulse to follow a bad example which
tection of the Federal Government under any circum­ has produced enactment of such a law in some eighteen
States in this present year, all of them without any
stances.”
We shall not attempt to combat these ideas further precedent inquiry whatever, is in the highest degree
than to quote what Chairman James J. Hill of the Great blameworthy. Such lawmaking is worse than un­
Northern Railway said with reference to the matter businesslike; it must be deemed a remissness in duty
in an interview this week. Mr. Hill, after expressing and an evidence of insensibility to the obligations of
the opinion that the Government will ultimately be delegated power, while the public indisposition to
forced to lend its credit to finance the needs of the watch legislatures and hold them to a strict accounta­
railroads, since their credit has been ruined, was asked bility is an unfavorable symptom in affairs. We are
what he thought about the proposition to compel the becoming too much governed by our feelings and too
railroads to compensate all men injured in their em­ little held in check by deliberate judgment. Impulse
ploy, whether through their own fault or not. Here is is a bad counsellor in business. The point that any
what Mr. Hill had to say, and it appears to us that his amount of mishandling of railroads by individual
argument is unanswerable. “ The employee question managers does not justify reprisals upon the roads so




J u n e 15 1907 J

THE CHRONICLE.

mishandled might have been brought out somewhat
more distinctly, yet Governor Hughes does say that
arbitrary reprisals are not warranted and that “ in
dealing with these questions democracy must demon­
strate its capacity to act upon deliberation and to deal
justly.” The following is well said, however, and
cannot be too strongly urged:
“ It is of the greatest importance that not only rail­
road corporations should be compelled to respect their
public obligations but also that they should be per­
mitted to operate under conditions which will give a
fair return for their service. Upon this depends not
simply the security of investors but the security of their
employees and the protection of every form of industry
and commerce through the maintenance and extension
of necessary transportation facilities. Nothing could be
more opposed to the interests of the community as a whole
than to cripple transportation corporations by arbitrary
reductions of earnings.”
It is a surprise to us that, notwithstanding the fore­
going, the prime reason stated for the veto is that the
bill would anticipate and get in the way of Governor
Hughes’s pet plan, the Utilities Commission scheme,
to which the business interests of the State must now
submit, unless the courts find cause for intervention.
“ There is a better way,” he says. It is impracticable
for the Legislature to investigate; the obvious course
is therefore to provide a body which can investigate
and can act with wisdom and full power, &c. The
argument is already familiar. But we have no guar­
anty, nor is there any good reason to expect, that this
body will be either wiser or more honest than lies in
men to be, or that they will be able to determine
satisfactorily problems to which no single body of
referees can ever be equal. The impossibility of a
good result of such an over-comprehensive attempt
will become evident in course of time, when we shall
remember once more the private ownership of railroads,
which is now forgotten in an exaggerated idea of their
public duty; and when we discover that transporta­
tion is too large a subject to be brought into party
politics. Meanwhile, it is some satisfaction to note
that the veto seems to be at least one break in the rush
to force down fares.
A correspondent of the “ Sun” raises an interesting
question as to the bearing of the unconstitutionality of
the present apportionment law of this State upon the
validity of Acts passed by the present Legislature.
Chief Judge Cullen of the Court of Appeals cited
approvingly a Connecticut decision in what seems to
be the leading case on the effect of acts of de facto
officers and bodies. In that case it was said:
“ The de facto doctrine was introduced into the law
as a matter of policy and necessity, to protect the in­
terests of the public and of individuals where those
interests were involved in the official acts of persons
exercising the duties of an office without being lawful
officers. . . • When, therefore, in civil cases the
public or third persons had knowledge that the officer
was not an officer de jure, the reason for validating the
acts to which they submitted, or which they invoked,
failed, and the law no longer protected them.”

1395

to an older apportionment. How far the acts of a de
facto Senate in the line of general legislation are valid
is a question. The “ Sun’s” correspondent seems to go
too far in suggesting that the Senate has no power to
enact an apportionment law, for this would produce the
confusion which the Court of Appeals wished to avoids
An examination of the decision of the Court and of the,
Connecticut decision cited therein shows no distinct
treatment of this question, but the inference is plain
that a de facto body can do valid acts only within the
limits of necessity. No layman can venture an
opinion as to what the Court of Appeals may do when
the question comes before that tribunal, yet the view
which it might take as to the Utilities law, for exampler
is an interesting one. Viewing that law, the Court
may perhaps say that here is a piece, not of ordinary
and necessary, but of very extraordinary and radical
legislation; that it is something as to which no demand
for immediate action existed; hence that a body un­
constitutionally elected and thus capable of exercising
only de facto powers is not competent to commit the
State in such a manner to a wholly new exercise of legal
functions. It would be rash to say that the Court will
take such a view; but we suggest it as a possibility,
since the decision already given clearly implies that
things not strictly lawful may be submitted to, per
necessity, up to the line where such necessity ceases.
The death of John T. Morgan, one of the two ven­
erable Senators from Alabama, is a distinct loss to the
Senate and country. He was a man old-fashioned in
his conservatism, in his conception of public duty, in
an unshakable integrity which no temptation could
even approach,and in his strong view of the original
balance of powers and of the importance of preserving
the rights of the States. This latter view is, unfortu­
nately , rapidly becoming dim in the present? continual
straining to centralize and produce the “ strong govern­
ment” that seems to be just now the popular ideal.
Mr. Morgan was also distinguished—and in a Senate
of higher average quality than the country now pos­
sesses he would have been distinguished—for strong
personal convictions and force, as well as great indus­
try and range of knowledge. When he knew a thing,
he knew it somewhat too surely and unchangeably, as
men of marked individuality are apt to feel that they
know. He showed this in a marked degree in his
course on the canal. Having decided—presumably
because he thought the commercial interests of the
Gulf States would be better advanced thereby—that
the Nicaraguan route was the proper one, he was im­
penetrable on that subject, and he fought for that
route to the last with unflagging zeal and force. There
can be no reasonable doubt that he was mistaken, but
he was honest about it, and it is rather a sad comment
on the present time to have to say that an honest con­
viction and an unbending adherence to honest con­
victions are some title to distinction. We have too
few really able men in public life now, and although
statesmanship is not a lost possession, the country will
be fortunate if it calls to the front new men who shall
reproduce the virtues and fame of the elders who have
gone.

The situation is that the apportionment law under
which the present Senate was chosen has been pro­
nounced unconstitutional. The Senate exists therefore
de facto and not de jure. As a matter of necessity
and to avoid confusion, it has power, as a de facto
The report of the Department of Agriculture on the
body, to enact a constitutional apportionment, and if condition of cereal crops June 1, issued on Monday,
it fails to do this the next election must be according has served to materially modify or remove the exag­




1396

THE CHRONICLE.

gerated ideas recently held of the damage done to
wheat by adverse weather. But that the tendency
toward exaggeration should be more marked than
usual this year is not surprising when the lateness of
all vegetation is considered. Cold and rainy weather
during April and most of May having seriously checked
development of all plant life, crops are naturally well
behind an average season in development, and there­
fore to the unskilled observer present an unfavorable
appearance. Thus, too, pessimistic reports are unin­
tentionally circulated. But backwardness is given
too much weight as an unfavorable element in deter­
mining condition. It is not unreasonable to suppose
it has been a too important influence in the recent
Department report, even though that report was more
favorable than generally expected. That a crop is
late is not in itself an unfavorable feature, but such a
condition is a serious drawback unless future weather
be propitious.
Principal interest in this June 1 report naturally
centres in wheat, and, as intimated above, the situa­
tion appears more favorable than private advices have
indicated. The general condition of winter wheat at
77.4 records a deterioration of 5.5 during the month
of May, and compares with S2.7 on June 1 1906 and
a ten-year average of 81.1. Some of the more import­
ant producing States make a very unfavorable com­
parison with a year ago, damage by insects as well as
by the weather being responsible therefor. For in­
stance, Texas condition is put at the extremely low
point of 44 against 87 on June 1 a year ago, Oklahoma
60 against 90, and Kansas 60 against 74. On the other
hand, however, Indiana, Michigan, Missouri, Illinois
and Pennsylvania have maintained or improved upon
the condition reported May 1, and the last three named
show higher percentages this date the current year
than last year. The lower general average condition
of winter wheat this year is, however, a less important
feature of the situation than the extensive abandon­
ment of area referred to in the May 1 report. The
original planting last fall embraced 31,655,000 acres,
or nearly 7 % more than the area harvested the
previous season. The abandoned territory comprised
over 3 ^ million acres, all States sharing therein more
or less, in Texas over two-thirds of the wheat area
being thrown out, and in Oklahoma about one-third.
The land from which a crop will be gathered exhibits,
therefore, a decrease of 5 % from a year ago.
According to the Department returns the springwheat area of the country has been reduced on the
average about 7% , making the amount of land under
that crop about 16,464,000 acres this year against
17,706,000 acres in 1906. As in the case of winter
wheat, the average condition of the crop June 1 was
lower than at the same time in 1906, being stated at
88.7 against 93.4 and a 10-year average of 93.3.
The acreage under oats is reported to have been in­
creased 1.7% , and the average condition is given at
81.6 against 85.9 June 1 1906.
In its report on cotton acreage and condition, issued
on June 4, the Department practically admitted the
serious error it had been drawn into in the spring of
1906, in the matter of area planted , by adding about
V/i million acres to the total as then reported. But
it is a question whether it will not be necessary for it
to also correct its figures of the 1907 planting. In our
own investigations of the subject of cotton area the




[V o l .

l x x x iv

.

only influence we could find working against a largely
increased planting was the wTeather, and that, in
hindering preparation of some land, served to cause a
modification of original intentions. At the same time,
the stimulus of high prices was potent enough to cause
some addition to area in about every State. But
the Department reports decreases ranging from 4 to
6% in such important producing States as Alabama,
Mississippi, Louisiana and Arkansas, and a total in­
crease for the whole country of only 11,000 acres, or
three hundredths of one per cent. Its figure of con­
dition, however, was quite generally accepted as
correctly defining the situation on May 25.
While weather conditions on the whole are not yet
normal, it is gratifying to note that they have in the
main been favorable since the first of June, and already
advices covering improvement in condition of all
crops are current. It is remarked, however, that the
weather is yet rather cool for com . Advices from
abroad speak of improvement in crop conditions but
indicate that although good crops of wTheat are expec­
ted ’in France, Spain and Italy, the out-turn from most
other European countries will be much below the aver­
age in quantity.
There was no change in official rates of discount by
any of the European banks this week; compared with
last week, unofficial or open market rates were }/$
of 1% higher at London and at Berlin and Frankfort
and steady at Paris. The European securities markets
were irregular at the close of the week. The London
bi-monthly settlement was concluded with but two
small failures, and these had only a slight influence;
foreign stocks were heavy in sympathy with Paris,
which was depressed because of selling of internation­
als. A report which was current at Paris during the
week that Russia contemplated the issue of a foreign
loan for 50 million dollars was authoritatively denied;
it was also officially stated that the Russian Govern­
ment does not intend to raise any foreign loan this year,
having decided to make up any deficiency by an in­
terior loan, which deficiency is estimated at 140 million
dollars, though, if the revenues continue satisfactory,
this will probably be reduced by about one-half.
The striking feature of the statement of the New
York Associated Banks last week was the reduction in
the surplus reserve b y $6,801,925,to $5,980,525. This
was the result chiefly of a loss of $9,065,200 cash
through gold exports and large customs receipts,
which loss was only partially offset by the net move­
ment of money from the interior. Loans were ex­
panded $1,514,300 and deposits were reduced by $9,053,100. The bank statement of this week is expected
to reflect, among other items, a loss of cash due to the
bringing over from last week of the then unaccounted,
for averages, representing gold withdrawn for export
in the closing days of that week, and also receipts in
excess of disbursements by the Sub-Treasury. The
2 millions withdrawn on Friday of this wreek for ship­
ment to Paris to-day (Saturday) will count in the bank
statement for only one-sixth of the amount, owing
to the bank average system.
The market for money was only slightly affected
this week by the unfavorable bank statement of the
previous week, and, until Wednesday, there were com­
paratively low rates for money on call. Then indica­

J u n e 15 1907.]

THE CHRONICLE.

tions of a considerable loss of cash that would result
from Sub-Treasury operations and from last week’s
late withdrawals of gold for export to Paris caused an
advance in the call loan rate to 3% . The announce­
ment that was made public on Thursday of a call by
Secretary Cortelyou for the surrender by July 10 of
30 millions public deposits, that were placed in deposi­
tories by his predecessor last September, did not seem
to have any affect upon the market for day-to-day
money, for the average on Thursday was only 2 ^ % .
On Friday, however, the engagement of 2 millions
gold for export caused an advance in call money to
There was a firmer tone for all fixed-date
loans, owing to a good demand and moderate
offerings.
Money on call, representing bankers’ balances,
loaned at the Stock Exchange during the week at 33^%
and at 1M%> averaging about 23^ % ; banks and trust
companies loaned at 2% as the minimum. On Mon­
day and on Tuesday loans were at 2 ^ % and at 2%
with the bulk of the business at 234%- On Wednes­
day transactions were at 3 % and at 2% with the ma­
jority at 2 % % . On Thursday loans were at 23^%
and at 1 % % with the bulk of the business at 23^ % .
On Friday transactions were at 33^% and at 2J4%
with the majority at 23^%. Time loans on good
mixed Stock Exchange collateral were firm, and for
the shorter dates especially, because of expectations
that the requirements for the July settlements,
amounting to 175 millions, for payments on account of
New York City borrowing, and also the recalls of pub­
lic deposits, would contribute to some tension within
the next thirty days. Quotations for this period of
maturity were 3 % % ; for sixty days 33^@ 4% ; for
ninety days 4@ 43^% ; four months 43^%; five months
4 % % , and for six to seven months 53^ @ 5 % % . There
were liberal offerings of commercial paper, but the de­
mand was light because of disquieting rumors affecting
the standing of mercantile and manufacturing houses,
which most likely were based upon the failure this week
of a construction concern. Rates were 53^ @ 6 % for
sixty to ninety day endorsed bills receivable, 5 }4@ 6 %
for prime and 63^% for good four to six months single
names.
The Bank of England rate of discount remains un­
changed at 4 % . The cable reports discounts of sixty
to ninety day bank bills in London 3% @ 3 Y%%. The
open market rate at Paris is 3 % % and at Berlin and
Frankfort it is 4 % @ 4 %%■ According to our special ca­
ble from London, the Bank of England gained £229,364
bullion during the week and held £35,003,731 at the
close of the week. Our correspondent further advises
us that the gain was due to heavy imports from India
and purchases in the open market. The details of the
movement into and out of the Bank were as follows:
Imports, £545,000 (of which £250,000 from India,
£5,000 from Australia and £290,000 bought in the
open market); exports, £335,000 (of which £200,000
to Egypt, £30,000 to Malta and £105,000 to South
America), and receipts of £19,000 net from the interior
of Great Britain.
The market for foreign exchange has been quiet
though generally firm this week, influenced by a good
demand for remittance and by a scarcity of bankers’
bills. Mail service has been limited, which will in




1397

great part account for the inactivity in the market,
and the inquiry in the middle of the week was chiefly
for Saturday’s steamer. The pendenc\r of the London
Stock Exchange settlement had no particular influence
on cables, owing to the comparatively light trading
during the fortnight in Americans. One feature was
the negotiation of finance bills in anticipation of an
opportunity for procuring cover for them in September
with the proceeds of discounted commodity drafts
against cotton and wheat. Another feature was the
drawing of a round amount of francs, supposed to be
against a matured installment of a corporation loan.
One remarkable circumstance was the absence until Fri­
day of engagements of gold for export to Paris, and this
was the more noticeable because in the previous week
there had been an urgent inquiry for the metal for this
purpose. The reason for this absence of a demand
for gold for export was the very narrow margin of
profit on the operation, owing to the rise in the rate for
exchange at Paris on London of two centimes, com­
pared with last week, and the fall on Monday of 10
points in sterling at New York on the British capital;
these changes in the factors governing gold exports
prevented the engagement of the metal for shipment on
Tuesday. The rise in Paris checks was probably due
to purchases to cover gold in transit from New York
and the fall in sterling was attributed to a temporary
relaxation in the demand. While there were on Tues­
day some tentative inquiries for gold by two bankers,
who apparently contemplated the shipment of $500,000 each, none was secured, though then conditions
were more favorable for the movement because of a
fall of half a centime in exchange at Paris on London
and a recovery in sterling at New York on the British
capital. The fact that no effort was made to procure
gold for shipment by Thursday’s steamer suggested the
possibility that the Bank of France had withdrawn its
offer of inducements for gold shipments hence. It was
thought probable that such might be the case for the
reason that French bankers had refrained from com petition for the Cape gold which was offered in
the London market on Monday; this seemed to indicate
that the French bankers had obtained a sufficient
amount for their own or the Bank’s present needs.
It appeared, however, upon inquiry, that no change
had been made by the Bank in its policy of assisting
gold imports from New York, and it was expected
that when conditions became more favorable,the ex­
port movement would be resumed. Such conditions
were favorable on Friday by reason of an advance in
sterling at New York on London to the highest rates of
the week, and 2 millions gold were then engaged for ex-port
to-day
(Saturday). Some of our bankers
expressed the opinion that if, because of an ad­
vance in the rates for money, exchange should be
actually or sentimentally affected, gold exports might
be temporarily checked. Others thought likely that
if the Bank of France still needed gold its offer of
assistance to American shippers would attract the
metal, through the elimination of the time-cost, or
interest on the gold while it was in transit, even
though money should advance, provided, however,
exchange at New York on London were not greatly
depressed by reason of the higher money rate.
Nominal quotations for sterling exchange are 4 843^
for sixty-day and 4 873^ @ 4 88 for sight. On Satur­
day of last week the market was irregular and, com­

1398

THE CHRONICLE.

pared with the previous day, long fell 10 points to
4 8365@4 8375, short rose 5 points to 4 8705@4 8710
and cables 5 points to 4 8755@4 8760. On Monday
the tone was heavy and long declined 10 points to
4 8360@4 8365, short 10 points to 4 8695@4 87 and
cables 15 points to 4 8740@4 8745. On Tuesday long
recovered 10 points to 4 8370@4 8375, short 10 points
to 4 87@ 4 8710 and cables 10 points to 4 8750@4 8755.
On Wednesday the market was dull and unchanged for
long and for cables; short was 5 points lower at 4 87@
4 8705. On Thursday long was 5 points higher at
4 8370@4 8380; short and cables were unaltered.
The tone was strong on Friday at an advance of 10
points for short and for cables.
The following shows daily posted rates for sterling
exchange by some of the leading drawers.
F r i.,
'M on .,
Tues.,
W ed.,
Thurs., F r i.,
June 7 June 10 June 11 June 12 June 13 June 14
Brown
J60 days
- -I S ig h t .Brothers & Co
Baring
i 60 days
& C o..... ................. _ _1 S ig h t.Bank British
J60 days
N orth Am erica- - __ \Sight..
Bank of
J60 days
IS ig h t..
M ontreal_____
Canadian B a n k
/ 60 days
of Commerce
.-\ S ig h t_ .
H eidelbach, Ickeli 60 days
heimer, & Co
. . \Sight. _
160 days
Lazard
Freres __________ . \Sight_.
Merchants’ Bank
J60 days
of Canada_______
IS ig h t..

4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4

8434
88
8434
8734
8434
8734
8434
8734
8434
87>4
84}*
88
8434
88
8434
8734

84 34
88
84 34
8734
84 34
8734
8434
87)4
84)4
87 34
8434
88
84^
88
8434
8734

8434
88
84>4
88
84K
8734
8434
8734
84 X
8734
8434
88
8434
88
8434
8734

8434
88
8434
8734
8434
87 34
8434
8734
8434
8734
84 34
88
84 34
88
8434
8734

84*2
88
8434
88
8434
8734
8434
87 34
8434
8734
8434
88
8434
88
84 34
8734

8434
88
8434
88
8434
88
8434
8734
8434
873-4
8434
88
8434
88
8434
8734

The market closed on Friday at 4 8370@4 8380 for
lon g,4 8710@4 8715 for short and 4 8755@4 8765for
cables. Commercial on banks 4 8345@4 8355 and
documents for payment 4 8 2 ^ @ 4 8410. Cotton for
payment 4 82^|@4 83. Cotton for acceptance 4 8345
@ 4 8355 and grain for payment 4 84@ 4 8410.
The following gives the week’s movement of money
to and from the interior by the New York banks.
Received by
Shipped by
N . Y . Banks. N . Y . Banks.

Week?ending June 14 1907.

N et Interior
Movement.

C u rren cy-----------------------------------------G old
. _________________________

$7,403,000
1,647,000

$5,194,000 Gain $2,209,000
1,146,000 Gain
501,000

Total gold and legal tenders______

$9,050,000

$6,340,000 Gain $2,710,000

With Sub-Treasury operations and gold exports the
result isjis follows.
Into
Banks.

Week ending June 14 1907.

Out of
Banks.

Banks’ interior m ovem ’t as above___
Sub-Treas. oper. and gold exports___

$9,050,000
$23,200,000

Total gold and legal tenders______

$32,250,000

Net Change in
Bank Holdings.

$6,340,000 Gain $2,710,000
30,100,000 Loss
6,900,000
$36,440,000 Loss

$4,190,000

The following table indicates the amount of bullion
in the principal European banks.
June 13 1907.

June 14 1906.

Bank oj
Gold.

| Silver.

£
E n g la n d -. 35,003,731!
France . . 108,963,050
Germany a 35.502.000
Russia — 116,304,000
Aus-.Hunb 45,600,000[
S p a in ____ 15.520.0001
Ita ly-------- 32,291,000
Neth’lands 5,334,500!
Nat.Belg.a 3,331,333!
Sweden ._
4,144,000

£
________
39,713,667
11,834,000
6,478,000
12,704,000
25,618,000
4,944,700
5,635,800
1,665,667
________

Total.

.

£
35,003,731
148,676,717
47.336.000
122,782,000
58.304.000
41.138.000
37,235,700
10,970,300
4.997.000
4.144.000

Gold.
£
34,767,926
117,677,751
37.440.000
100,291,000
46.619.000
15.140.000
28.647.000
5,521,900
3.334.000
3.878.000

j

Silver.
£
42,642,585
12.480.000
5.725.000
12.796.000
24.519.000
3,986,300
5.757.000
1.667.000

|

Total

£
34,767,926
160,320,336
49.920.000
106,016,000
59.415.000
39.659.000
32,633,300
11,278,900
5.001.000
3.878.000

T ot. week 401,993,6141108,593,834 510,587,448 393,316,577 109,572,885 502,889,462
T o t. prev. 400,088,239.108,368,930 508,457,169386,976,544 109,128,454 496,104,998
a The division (between gold and silver) given In our table of coin and bullion
in the Bank of Germ any and the Bank of Belgium is made from the best estimate
we are able to obtain; in neither ease 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 approxim ation.
b The Austro-Hungarian bank statement Is now issued in K ronen and Heller in­
stead of Gulden and Kreutzer. The reduction of the former currency to sterling
Pounds was b y considering the Gulden to have the value of 50 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 o f conversion b y dividing
the am ount of Kronen by 24 instead of 20.
d The total of gold in the Bank o f Russia includes the balance held abroad—
that is, the am ount held for Russian account in other Continental banks. The
proportion so held and consequently duplicated in the above statement Is abou t
one-quarter o f the total.




[V o l .

l x x x iv

.

THE PRICE OF CONSOLS.
The further decline in British consols, to the lowest
actual price reached in sixty years, has naturally
attracted world-wide attention. The price of 83 9-16
quoted last week compares with the low price of 8434
at the time of Wall Street’s “ March panic” three months
ago; with the low mark of 89% for the year 1903,
when the reduction in the consols interest rate and
the Boer War expenses had their full effect; with 84^g
reached in the Overend-Gurney panic of 1866, and
with 80 in 1848, a year of severe financial depression
in England. Not since the last-named date has the
price of consols touched so low a figure as this month’s.
Comparisons of this sort, however, manifestly ignore
the fact that consols to-day pay but 23^ % interest,
as against2%% between 1888 and 1903, and 3% prior
to that date. In other words, the actual price may
be lower to-day than on given occasions in the past,
and yet the standing of consols, measured by the net
yield to investors, may be considerably higher. For
example, the yield on the 3% consols in 1848 would
have required, for a 23^ % security, a price, not 80,
but 6624There are other qualifications in the deductions to
be drawn from this year’s low price, to which we shall
refer. Nevertheless, the fact of the continuous decline
in price of this “ premier security,” and the further fact
that its present net yield of 3% compares with a net
yield of only 2% % when it touched the high price of
113^ in 1897, are phenomena of interest and sig­
nificance. In general, the causes underlying this
decline are plain enough. Heavy issues of new war
loans by the British Government during the Transvaal
contest; suspension at the same time of purchases for
the sinking fund; profusion of other issues of highgrade investment securities, and, more recently, the
great demand and high bids for capital to use for other
purposes, would be sufficient to explain even a more
serious decline than this has been. The resultant situ­
ation is not, as we take it, that holders of consols are
selling because the investment dissatisfies them, but
that new buyers are not attracted into the market
on anything like the old basis, and that therefore
every closing out of an estate comprising large consols
investments serves to cause a renewed break in the
market. Possibly we might add to this adverse cause
the fact that the British Government—very unscien­
tifically and unjustly, in our opinion— charges up the
income tax against all consols interest payments,
and deducts that tax from the remittances, whether
the holders are Englishmen or foreigners. The effect
of such a policy, at a time when England has been
relying as never before on outside markets for its in­
vestment capital, and when the British income tax
is confessedly at an abnormal figure for a time of peace,
should be manifest.
But granting all these facts, some interesting con­
siderations remain in the matter of British consols
to which we wish to call attention. In the first place,
not only is comparison of the price of consols with
their price in other years misleading, but it is equally
misleading to assume that consols are suffering more
than other high-grade securities from the general rise
in the rate paid for capital. With our own United
States bonds, where a 2% issue, redeemable in 30
years, sells above 104, the British security obviously

THE CHRONICLE.

J u n e 15 1907. |

makes poor comparison. Most people are, however,
familiar with the peculiar circumstances which regu­
late and support on a virtually artificial basis the price
of our national securities. Such an instance as the
fall in price of New York City bonds is much more to
the point; or, if comparison is desired with bonds of
other high-grade governments, the London “ Econo­
mist” lately published the following very interesting
table, showing the net yield to-day and ten years ago
of £, selected list of such securities.
End of M arch 1907.

British consols___
French rentes____
German c on sols..
Prussian consols. .
H ung’n gold rente
Italian rente_____

Rate.

Price.

3
3
3 Hi
4
5

85 3-1G
95
83 y2
94
94
102

Equiv.
at
2H % .
85 3-16
78 ^
68^
63 Vs
58 ys
63 M

End o1 March 1897.
Yield.
£ s. d.

2,
3,
3,
3,
4,
3,

18,
3,
13,
19,
6,
19,

9
8
2
3
0
3

Equiv.
■
Rate. Price.
at
2 y2%.
2=4
3
3
4
4
5

112
102H
97
103
102 3^
88j-6

11 0 ^
85MS
7954
64
63^
55 M

Yield.
£ s. d.
2,
2,
3,
3,
3,
4,

5,
18,
3,
18,
19,
10,

3
6
0
3
0
6

It should be plain from these comparisons that, on
the whole, British consols have not been suffering
worse than the general run of public securities.
One further consideration arises, howTever, to which
in our judgment even the English financial critics
have given scant attention. As is generally known,
British consols up to 1888 were virtually irredeemable;
that is to say, though they were purchased annually
in large quantities for the sinking fund, no fixed date
was assigned at wrhich the Government was required
to pay off the entire debt. In April of that year Mr.
Goschen, then Chancellor of the Exchequer, put through
his important conversion scheme. Confronted, as he
believed the British Government to be, with a per­
manent fall in the general interest rate and with a per­
manent rise in the national surplus revenue, Mr.
Goschen had announced that on that date the 3% con­
sols then outstanding should be paid off, with, however,
the option to holders, of conversion into 2% per cents.
This latter interest rate was to continue until April
1903 when it was to fall again to 2 % % . As a further
step towards keeping the interest on British public
debt in line with what Mr. Goschen expected of the
market, it was further provided that in 1923 the new
consols issue should mature. What has happened
since is familiar to every one. Mr. Goschen judged the
immediate future correctly; so much so, that the
whole outstanding list of consols was converted will­
ingly into 2% per cents. But he made the mistake,
not at all uncommon among the most brilliant finan­
ciers, of assuming too much for the longer future.
How seriously the second reduction of interest, pro­
vided in his plan for 1903, complicated British finances
at that time will hardly have been forgotten. The
point to notice now, however, is that under the stipu­
lations with which the 1888 conversion plan was car­
ried out, the present 2}/> per cents may be redeemed,
at the pleasure of the Government, in 1923. Whether
this option will then be exercised depends no doubt
on tjie state of the market at that time. If consols
were to be called in for redemption at that date—
whether to reduce the public debtor for refunding at a
lower rate— buyers at the present price of 84 or there­
abouts will, sixteen years hence, be able, under this
proviso, to recover par. The difference between this
present price and the redemption figure is 16%; in
other words, investors in consols at this month’s
quotation, who hold the security until the day of its
redemption, will, in case of such redemption by the
Exchequer, have added 1% per annum to the




1399

2 ^ % (less income tax) paid annually by the Govern­
ment. We do not imagine that this fact will very
greatly impress markets imbued, as the present mar­
kets are, with an idea of getting abnormally high re­
turn on perfectly sound securities. But the time may
come when such calculations will assume the first
place in the London market’s plans.
ONE TRUST THAT SURVIVES.
It is rather singular that in the apparent public aver­
sion and antipathy to trusts in trade, the doings of
another trust, which has been much in evidence of
late, should be completely overlooked. In speak­
ing of “ trusts” we are using the word in the sense it
is ordinarily employed, as something reprehensible
and unscrupulous. In common parlance a trust is a
body or organization which rides roughshod over every­
thing in its path— crushes out and stifles all opposition,
knows no will except its own, has no purpose save to
promote its own interests, is concerned only to main­
tain its own supremacy, and stops at nothing to attain
its en ds.,
We confess that we know of no trusts in the mercan­
tile or financial world that measure up to this standard ?
though trade combinations are everywhere represented
as being of an evil type. But the description fits ac­
curately the new trust that has recently risen into
prominence. We mean the political trust—the party
caucus. Caucus rule was supposed to have been rele­
gated to limbo a generation ago. Its activities then
had become so pernicious that it was left absolutely
without friends. Nothing bad enough or strong
enough could be said about it or against it. The man
who yielded to its dictates was everywhere regarded
as having forfeited all claim to decency, independence
and impartiality; he was treated by the independent
class as being nothing more than a tool in the hands of
party leaders, and his course held up to public obloquy.
So general was the feeling of public disapprobation
that even the machine leaders were forced to bow to
the popular will, and by degrees the caucus dropped
out of existence, at least as far as legislation was con­
cerned. The politicians could not afford to rest under
the charge that legislation was being enacted, not on
its merits, but at the behest of the party leaders.
Hence, for a time, caucus rule disappeared. Criti­
cism, deserved and unmitigated, had shamed it out of
existence.
But we are living in a new era. Old principles, old
rules and precepts, codes of ethics that formerly found
universal acceptance, apparently no longer bind men.
By some legerdemain which it is difficult to explain,
except on the theory that blind infatuation for the
social will-o’-the-wisps that are being dangled enticingly
before the public eye have dulled the moral sense, we
have lost our perception of right and wrong. So we
no longer speak with contempt of the thing that yes­
terday we denounced as vicious and indefensible. In
this state of affairs, the party leaders have seen their
opportunity, the caucus has been revamped and re­
vived. It is again being made to do duty in the old
way.
Quite notably, too, caucus rule is finding most
marked exemplification in the enlightened State of
New York. The caucus has a great amount of achieve­
ment to its credit at Albany this season. Consider
what a deal of legislation has been accomplished

1400

THE CHRONICLE.

through and by it during the last few weeks. All .the
important measures of the session have been forced
through by it and by it alone. This means that these
pieces of legislation do not represent the untrammeled
will of our legislators. If they had been allowed to act
in accordance with the dictates of their judgment,
these new laws , nearly all of a revolutionary type,
could not have been enacted. A caucus, or trust, has
told these legislators what to do, and has compelled
them to yield obedience to its mandate as relentlessly
and as mercilessly as the tyrants we read about in
history.
What the result would be when each legislator was
free to express his own will was clearly shown in the
vote on the Kelsey removal proposition. The propo­
sition failed, as everyone knows. In the public ex­
citement of last year a lot of insurance legislation had
been put on the statute books. These laws proved un­
workable, as was shown by the fact that the counting
o f the vote cast at the election of insurance company
officials last December extended over a period of sev­
eral months, and in the case of one of the companies
is not even yet finished. It became necessary, in the
estimation of those who wield the caucus, to do some­
thing more to demonstrate how our legislators and high
officials are ever the servants of the people. The
Insurance Superintendent, with a record of some er­
rors against him, though of a blameless character, was
ready to hand and could serve as a vicarious sacrifice.
But the Senate, with each member free to act in accor­
dance with his volition, refused to do the part of
executioner.
It then became necessary to resort to heroic meas­
ures. There was the Public Utilities Bill. If the
recalcitrant senators were not brought in line, this
measure might fail; likewise the Recount Bill and
several other measures which the political powers
planned should be the record of legislative achieve­
ment for the session. It was of no use to attempt to
reason or to argue with the bolting Senators, for it
was as plain as anything could be that the bills could
not stand on their merits; they were full of objection­
able features and must needs be extensively revised if
not dropped altogether. But it had been determined
b y these political powers that the bills should go
through just as they were, without any change.
So the campaign managers, the “ organization” men,
put in an appearance at Albany, conferred with
the Executive and with those Senators and Assembly­
men high in the party councils, and all agreed that
the caucus should do the work which the Legislature
in and by itself could not do. The caucus was held.
The rebellious legislators were told that the interests
of the party demanded that the measures desired should
be rushed through with unanimity, that no opposition
would be tolerated, that desertion at such a time
meant traitorism to the party, and furthermore that
if the rebels persisted in asserting their individual
rights, they would be read out of the party and could
not again hope to get a re-nomination. These means
proved effective. The will of the political managers
was carried out. The Utilities Bill went through both
Houses without a show of opposition; so did the
Recount Bill, and likewise the other measures planned.
The most surprising part of the whole performance
was that not a protest came from anyone against such
methods of procedure. The very people who years




[V o l .

l x x x iv

.

ago were most bitter in their criticism of caucus rule
were now silent—people generally independent in
politics and who usually espouse high aims and
causes. The reason was that they, too, had become
benighted. They see, or affect to see, in the meas­
ures referred to legislation to promote the public
good and they are blind to the means pursued for
giving them effect.
There were even intimations
that it would not be wrong to avail of some other
weapons that were conveniently to hand. The Court
of Appeals had just declared the last reapportionment
invalid. Why not, then, these advocates urged, give
the legislative rebels to understand that if they per­
sisted in their course, a reapportionment measure
damaging to their political prospects would be forced
through over their heads. Their districts would be
wiped out or gerrymandered in such a way that they
could not ever again hope to be returned to Albany.
At this very moment we find- the two Houses
of the State Legislature engaged in a wrangle which
has for its basis not a desire to secure a just apportion­
ment, but a fear lest one set of political leaders may
gain advantage over another set. In the end King
Caucus will be asked to step in and decide the matter,
and then there will be harmony— the harmony that
speaks of the extinction of the individual but the
triumph of the political trust. The expedient has al­
ready been invoked in one House,and will, we may
be sure, be employed sooner or later to bring both
Houses to the required frame of mind. If it proves
abortive on this occasion, it will only be because
legislators who yield ready acquiescence when asked to
deal a blow at business interests balk when the blow
is aimed at their own heads— when they are calmly
requested to vote for their own extinction.
Governor Hughes, in his speech before the Columbia
Law School on Wednesday, argued that “ it is the
duty of an Executive to state his opinion to the legis­
lative bodies, and when such opinions are endorsed
by these bodies and made law, after endorsement by
the people, then we have legislation, not by Executive
usurpation, but by public opinion followed by discus­
sion.” This may be admitted, but there has been no
legislation of that kind the present session. The
caucus has usurped the rights and powers of the legis­
lator. It, and it alone, has determined the course of
legislation.
Is it not about time that we regained our senses
and declined to tolerate any longer such abuses of
political powers and such disregard of the principles
upon which Republic Government is founded? If a
legislator cannot be left free to exercise his own will
in accordance with the dictates of his conscience, if
he is to be hounded by the press and a clique of his
political associates for daring to oppose them when
they seek to commit him to a course which he does
not approve; if legislators are only to vote collectively
in accordance with the desires of the leaders instead
of singly to voice their own sentiments, are we not in
danger of abolishing representative government? The
corner-stone of republican institutions is the fact that
freedom of action and expression is accorded the
minority. The minority yields ready acquiescence to
the majority because of the latter’s superiority in
numbers. But caucus rule stifles the voice of the
minority and records majority and minority alike in
favor of a pre-conceived plan of action. When this

J u n e 15 1907.1

THE CHRONICLE

is allowed, legislation no longer represents the will of
the majority but more often the will of an insignificant
minority.
The danger from such a step cannot be over­
estimated. Just now, when so many are being car­
ried away by the crusade against corporations and
against capital and wealth, and when, therefore, a
spirit of complacency is displayed towards things
having that end in view, this fact may not be recog­
nized. But unless we are greatly mistaken, tolerance
of the caucus now will come back to plague the good
people who see nothing wrong in its present course.
An instrument that can be employed to grind out socalled good laws can with equal facility be employed
as an instrument of oppression, for it is the power
which the caucus ^possesses that enables it to do
its work and not any command of righteousness. The
caucus is founded, not on reason, but on brute force,
and by brute force alone can it ever exercise its sway.
To-day it may be employed for a purpose that suits
the popular fancy. To-morrow those arrogating to
themselves its powers may bid defiance to the public will
even when it rests on sane grounds. It behooves us,there­
fore, to be careful how we countenance its continuance.
RIGHT OF A STATE COMMISSION TO REGULATE
THE TRAIN SERVICE OF A RAILROAD.
At the present time, when the tendency is to extend
the functions of State Commissions over the affairs of
carriers, not only in the matter of regulating rates
but in fixing all the details of railroad service, it is im­
portant to know just howTfar such a body may go in
the exercise of its powers and prerogatives. An in­
teresting case involving this question was decided in
the U . S . Supreme Court somewhat over a month ago.
As the case embraces features that are likely to occur
in other instances, the doctrine laid down in this de­
cision must be regarded as quite important. The
Court upholds the right of a State Commission to re­
quire a carrier to run a train in order to promote pub­
lic convenience, even if the running of this particular
train involves a loss to the road. However, we are not
permitted to make our generalization or deductions too
broad. Every case depends upon its own state of
facts, and the judgment reached in the present instance
is controlling only where an exactly similar state of
facts exists. The Court in effect balances the loss
from obedience to the order of the Commission against
the profitable results of the operation of the road as a
whole, and declares that the act cannot on that ground
alone be classed as arbitrary and unreasonable.
The circumstances were rather more favorable to
the Commission than they ordinarily are in an action
where a Government body is concerned. The South­
ern Railway made a change in its time schedule for a
certain train and this change broke the connection at
Selma, Ala., which had previously existed with a train
run over the Atlantic Coast Line system. The South­
ern found it incumbent to make this change, as it had
become absolutely dangerous to operate the train at
the speed required by the previous schedule. The
connection between the Atlantic Coast Line train and
the Southern Railway train at Selma had existed for
many years, and naturally there was complaint when it
was broken. The Atlantic Coast Line management
was appealed to by the North Carolina Corporation
Commission to make a corresponding change in their




140 i

train in order that the old connection might be main­
tained, and they expressed a willingness to do this
provided they could get a change in the train run by
the roads between New York and Richmond. But
these other roads found it impossible to alter the hour
of departure from New York, and the Atlantic Coast
Line people thereupon were obliged to notify the N orth
Carolina Commission that they saw no feasible way of
continuing the old connection at Selma. After hear­
ing, the Commission peremptorily ordered the Atlantic
Coast Line Railroad to arrange its schedule so that the
train which previously had been scheduled to arrive
at 2:50 p. m. should thereafter arrive at 2:25 p. m .,
thereby restoring the old connection with the Southern
Railway train.
The Atlantic Coast Line Company protested against
the order, requesting its withdrawal and asking for a
further hearing. The Commission complied with the
request for a newThearing and suspended its order. At
this second hearing the Atlantic Coast Line people
were able to show that for the previous five months
it had been impossible for them to bring No. 39 (the
number of the train in question) to Selma by schedule
time, to wit., 2:50 p. m ., more than twice, and that
this train was more than ten minutes late every day
except twenty-four. Yielding to the force of this sit­
uation, the Corporation Commission concluded that
it was impracticable to require a faster schedule and
place this train at 2:25 p. m. instead of 2:50 p. m.
Therefore this part of the former order was revoked
and annulled. But the Commission was of the opinion
that it was practicable, and that the convenience of
the traveling public required, that the Atlantic Coast
Line Railroad furnish transportation for passengers
from a point called Rocky Mount to Selma after 12:50
p. m. and by or before 2:25 p. m. each day. It ac­
cordingly made an order to that effect.
Before the date of the taking effect of the second
order, the Atlantic Coast Line filed exceptions to the
validity of the order and prayed for another hearing.
The Commission again acceded and took further tes­
timony, but this time adhered to its order. The rail­
road was able to show that the operation of an extra
train from Rocky Mount to Selma or the extension of
the run of one of the branch line trains meant a direct
money loss for every day the train was run. The
Commission treated this objection as immaterial, find­
ing, as a matter of fact, that the total receipts of the
Coast Line in North Carolina, taken from business in
that State, were sufficiently remunerative and there-,
fore that even if the train was operated at a loss, that
circumstance was not of very great importance. The
company hence appealed to the courts for redress.
In the lower court it received a verdict in its favor,
but the Supreme Court of North Carolina reversed the
judgment. The case then went to the U. S. Supreme
Court, with the result that this judgment of the North
Carolina Supreme Court stands affirmed.
The opinion in the United States Supreme Court
was by Justice White. He points out that as the
public power to regulate railways and the private
right of ownership of such property co-exist and do
not the one destroy the other, it has been settled
that the right of ownership of railway property, like
other property rights, finds protection in constitu­
tional guaranties, and therefore wherever the power
of regulation is exerted in such an arbitrary and un­

1402

THE CHRONICLE.

reasonable way as to cause it to be in effect not a
regulation but an infringement upon the right of own­
ership, such an exertion of power is void because re­
pugnant to the due process and equal protection clauses
of the Fourteenth Amendment. But was the order
of the North Carolina Commission arbitrary and
unreasonable within this view? Justice White thinks
not. He says that in considering the question it must
be borne in mind that a Court may not, under the guise
of protecting private property, extend its authority to
a subject of regulation not within its competency, but
is confined to ascertaining whether the particular asser­
tion of the legislative power to regulate has been exer­
cised to so unwarranted a degree as, in substance and
effect, to exceed regulation, and to be equivalent to a
taking of property without due process of law or a
denial of the equal protection of the laws. Consider­
ing all the circumstances of the case, he thinks that
from the point of view of the requirements of the
public interest the order of the Commission was one
coming clearly within the scope of the power to enforce
just and reasonable regulations.
Counsel for the Atlantic Coast Line Railroad had in
their argument before the Court relied greatly upon
the case of Smyth vs. Ames (169 U. S. 526) where
Justice Harlan said: “ A State enactment, or regula­
tions made under the authority of a State enactment,
establishing rates for the transportation of persons or
property by railroad that will not admit of the carrier
earning such compensation as, under all the circum­
stances, is just to it and to the public, would deprive
such carrier of its property without due process of
law,” &c. But the present case Justice White points
out, does not involve the enforcement by a State of a
general scheme of maximum rates, but only whether
an exercise of State authority to compel a carrier to
perform a particular and specified duty is so inherently
unjust and unreasonable as to amount to the depriva­
tion of property without due process of law. In a
case involving the validity of an order enforcing a
scheme of maximum rates, of course the finding that
the enforcement of such scheme will not produce an
adequate return for the operation of the railroad in
and of itself demonstrates the unreasonableness of the
order. Such, however, is not the case when the
question is as to the validity of an. order to do a par­
ticular act, the doing of which does not involve the
question of the profitableness of the operation of the
railroad as an entirety.
He said that the question raised in this instance
concerned solely an order directing a carrier to furnish
a facility which it is a part of its general duty to furnish
for the public convenience. As the primal duty of a
carrier is to furnish adequate facilities to the public,
that duty may well be compelled, although by doing
so as an incident some pecuniary loss from such service
may result. Of course the fact that the furnishing of a
necessary facility ordered may occasion an incidental
pecuniary loss is an important criterion to be taken
into view in determinng the reasonableness of the
order, but it is not the only one. As the duty to fur­
nish necessary facilities is co-terminous with the powers
of the corporation, the obligation to discharge that
duty must be considered in connection with the nature
and productiveness of the corporate business as a
whole, the character of the services required, and the
public need for its performance.




[V o l .

l x x x iv

.

It is evident from reading the opinion that the Court
was favorably impressed with the apparent thorough­
ness of the Commission’s investigations and the care
seemingly taken to get at the facts and to act with
caution and deliberation. Given a different set of
conditions, the Court might not have been so prone
to accept the Commission’s findings even as to the
facts. And yet, the Court’s conclusions are quite
sweeping.
RAILROAD GROSS EARNINGS FOR M A Y .
It is encouraging to find that returns of railroad earn­
ings are again very satisfactory, at least as far as the
gross are concerned. The fact is gratifying both on
its own account and because large gains are so essential
to counterbalance the tremendous increases which are
taking place in the operating expenses of the roads.
Our statement for April had shown quite large im­
provement in the gross revenues over the correspond­
ing month of last year, and the statement we present
to-day for the month of May is almost equally good.
Briefly, the 67 roads which have contributed returns
to this compilation (wThich is an early one, and, being
made so soon after the close of the month, necessarily
embraces only the roads that are unusually prompt in
giving out the figures) show a gain in the aggregate in
the sum of $10,889,344, or 14.97%.
Of course, special circumstances are in large measure
responsible for the favorable character of the exhibit.
And yet the increase is none the less welcome on that
account. Chiefly it has to be borne in mind that, as
was the case in April, comparison is writh the period of
suspension of coal mining in 1906. Mining in the an­
thracite regions last year was not resumed until the
10th of May, while in the case of bituminous coal
fields the strikes were continued all through May, ex­
cept of course in those instances where the operators
had granted the 1903 scale of wages at the beginning of
April, and where, therefore, no stoppage of work had
occurred even in April. These coal strikes, it is proper
to say, extended to many different States, and numer­
ous roads in widely-separated sections sustained a
decrease in tonnage on that account, though quite gen­
erally the loss in that way was made up by gain in other
classes of traffic arising from the activity and pros­
perity of general trade. This year of course there
was no disturbance of that kind and the large gains in
earnings are in great part explained, therefore, byt he
fact that coal traffic and coal revenues have been of
normal proportions, where in 1906 they had been ab­
normally small.
On the other hand, Southern roads were without the
advantage of a larger cotton movement, such as ex­
isted in the earlier months of 1907. Instead, the cot­
ton movement fell off. Western roads on their part
appeared to have had a smaller live-stock movement,
and a number of them also had a diminished grain
tonnage, though the advance in the price of wheat to
above the dollar mark proved a great stimulus in en­
larging the movement of wheat. Except in the case
of individual roads, it must not be supposed that com­
parison is with diminished earnings last year. As al­
ready pointed out, business in 1906 was e x tr e m e ly
prosperous, and, save as regards the distinctively coalcarrying roads, the loss in the coal earnings was more
than offset by gains in other classes of traffic. In the
aggregate our early statement for May 1906 showed

$9,323,116 increase, or 13.37%. The increase the pres­
ent year of $10,889,344, or 14.97%, is additional to this
previous gain. As a matter of fact, it is additional to
a long series of gains, extending back a great many
years, as may be seen from the following summary
giving the totals for ten years. It will be observed that
1904 is the only year in the whole series marked by a
loss. All the others have gains, and generally for quite
large amounts.
Mileage

Year
Given.

Roads M iles. M iles.
M ay.
93,637 92.963
18 9 7 ____ 125
96,860 95,748
1 8 9 8 ____ 128
91,958 90,390
1 8 9 9 ____ 111
190 0
114
97,537 95,638
190 1
99
99,916 96,630
1 9 0 2 ____
84
91.858 90,262
81 101,759 99,723
1 9 0 3 ____
66
19 0 4 ____
85,108 82,820
53
74,767 73,230
1 9 0 5 ____
1 9 0 6 ____
71
96,593 94,398
1 9 0 7 -----67
93.646 92.180

S
%
0.72 37,604,347
1.16 44,342,892
1.73 44,569,301
1.98 52,845,746
3.39 57,403,999
1.76 54,942,317
2.04 70,028,295
2.76 52,134,881
2.09 48,367,104
2.33 79,065,712
1.59 83,611,407

Jan. 1 to M ay 31.
18 9 7 ____ 124
93,308 92,634
18 9 8 ____ 126
96,708 95.598
1899 ____ 110
91,920 90,752
1 9 0 0 ____ 113
97,264 95,365
1 9 0 1 ____
99
99.916 99,632
1 9 0 2 ____
84
91,858 90,262
1 90 3 ____
81 101,759 99,723
1 9 0 4 ____
66
85,108 82,820
74,510 72,973
19 0 5 ____
51
70
19 0 6 ____
96,517 94,322
1 9 0 7 ____
67
93,646 92,180

0.72
1.16
1.28
1.99
0.28
1.76
2.04
2.76
2.09
2.32
1.59

179,431,982
212,802,464
192,631.594
258.503,791
279,458,040
264,531,088
340,451,843
254,210,014
231,262,020
379,538,324
380,802,330

Year
Preceding.

Decrease

180,894,891
183,519,317
183,058,659
255,084,715
225,282,597
244,134,988
300,727,974
259,877,293
217,158,045
327,370,546
347,530,821

%
3.91
14.59
6.46
10.29
10.03
9.17
11.92
3.44
8.58
133 7
14.97

— 1,462,909
+ 29,283,147
+ 9,5 72,9 35
+ 33,419,076
+ 24,175,443
+ 20,396,100
+ 39,723,869
— 5,667,279
+ 14,103,975
+ 52,167,778
+ 33,-71,509

0.81
15-95
5.22
10.84
9.47
8.35
13.21
2.18
6.49
15.93
9.80

Note.— W e do not include the Mexican roads in any of the years.

The wheat receipts at the Western primary markets,
under the stimulus of the high prices prevailing,
reached 18,665,912 bushels for the five weeks ending
June 1 1907, against only 9,012,962 bushels for the
corresponding five weeks for 1906; and the deliveries
of oats, barley and rye were also larger, but the corn
movement was about 2,000,000 bushels smaller. For
the five cereals combined, the receipts were 56,534,603
bushels, against only 45,856,104. bushels in the five
weeks of 1906. The details of the grain movement
in our usual form appear in the table we now present.

'

18,665,912 16,338,473 17,270.256
9,012,962 18,292,710 16,107,748
5.305,329 51,312,253 38,558,296
2,686,536 35,039,559 33,541.309

Barley.
(bush.)

Rye.
(bush.)

1,215.196
870,285

170.382
111,411

1,062,800
635,800

109,800
51,200

110,500
50,050

22,099
20,387

900

1,500
10,500

179,000
125,000

19,200
58,800

580,017
71,545

27,932
9,982

623,220
306,490

130,400
50,054

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

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

3,778,589
2,129,750

481,373
312,934

8,948,859 1,020,650
710.339
8,417,223
6,589,600
6,162,700

588,600
397,600

4,035-470 19,417,889 13,159,100
5,163,664 13,535.110 11,192,600

1,344.600
1,261,300

219,198
255,387

2,740

16,000
48.800

3,341.000
3,457,050

897,500
611,000

4,036,000
2,772,000

1,700,600
1,557,400

657,324
517.895

2,233,721
2,984,131

978.254
1,527,779

487,873
265,582

2,741,430
2,513,260

2,320,181
2,123,779

55,582
215,070

2,200

217,300
287,300

6,742,360
6,401,900

4,489,550
9,169,000

1,346,000
1,280,500

146,900
162,900

16,745,276
8,255,856

17,539

1,085,755
2,923,288

2,030,485
1,423,587

139,264
116.378

40,998,864
34,539,240

2,966.410
1,878,546

7,401,140
8,247,040

4,634,811
3,844,630

779,225
472,924

10,363,000
6,552,000

5,984,000
8,367,000

2,021,400
2,618,600

Total of aU—
1907.............. .7,498,188 82,352,394 98.822,602 77,667,576 24,949,937 2,912,037
1906______ -7.288,062160,857,313 76,948-556 76,410,095 22,607 750 2,164.328




Since January 1 .

M ay.
Ports.
G alveston _____ _____ bales.
P ort Arthur, & c___________
New O rleans______________
M o b ile ____________________
Pensacola, &c_ ___________
S a v a n n a h ___________ _____
B r u n s w ic k ________________
C h a rleston ________________
Georgetown________________
W ilm ington________________
Norfolk _ . ______________
N ewport News, & c___ _____

1906.

1907.

1906.

87,950
4,236
52,792
6,880
4,863
47,079
2,366
1,329
50
6,369
35,934
1,028

73,662 139,445 1,572,026
104,010
3,894 51,990
81,674 137,987 910,583
77,674
13,347 18,914
70,210
5,866 19,409
85,178 130,031 378,013
9,583
9,289
64,513
30,270
6,355
9,628
352
49
19,169 29,303
70,751
34,513 74,777 214,217
910
28,532
5,658

1905.

1907.

1905.

755,939
811,505
159,480
48,308
699,656 1,010,157
94,141
63,448
80,134
77,831
474,911
344,468
50,698
59,655
26,314
40,446
643
271
46,838
86,677
140,483 246,271
10,150
14,464

337,200 626,431 3,521,751 2,276,096 3,066,852

With the roads as a whole making such a satisfactory
showing, it necessarily follows that the separate roads
have done equally well. The gains are large and come
from all sections of the country, whereas the losses are
few and unimportant. In truth, there is only one loss
for a sum in excess of $30,000, this being furnished by
the Yazoo & Mississippi Valley, which evidently suf­
fered a falling off in its cotton traffic. Below we show
all changes, whether increases or decreases, for amounts
over $30,000.
P R IN C IP A L C H A N G E S IN

G R O S S E A R N I N G S IN M A Y .

T n r r p n qpq i
In crea ses.
C a n ad ian P a c ific __________$ 1 ,3 4 4 ,0 0 0 | S t L o u is S o u th w e s te rn ___ $ 1 1 6,02 9
113 ,700
G t N o rth e r n S y s (2 road s) 1 ,2 5 8 ,5 1 9 1D e n v e r & R io G ra n d e ____
7 6 ,2 5 7
N Y C en tral & H u d R iv e r 1 ,1 6 8 ,3 6 4 ! C h ic In d & S o u th e r n ______
7 5 ,909
9 3 5 ,2 3 2 |M o b ile & O h io ____________
N o rth e r n P a c ific ________
M o K an sas & T e x a s _______
5 8 4 ,1 0 2 : W e s te rn M a r y la n d ________
7 4 ,599
Illin o is C e n tra l____________
576 ,1 3 3 C en tral o f G e o rg ia ________
70,850
G ra n d T r u n k S ys (4 ro a d s)
5 0 4 ,9 7 0 1A la b a m a G rea t S o u t h e r n 7 0 ,2 6 7
57,650
B u ffa lo R o c h e s t e r & P itts
4 6 2 ,4 0 9 ! D u lu th S o S h ore & A t l a n .
T e x a s & P a c ific ___________
3 3 5 ,7 0 5 ] D e tr o it T o l & I r o n t o n ----53,6 2 4
46,7 6 6
M o P a cific S ys (2 road s) __
3 3 3 ,0 0 0 I N e w Y o r k C h ic & St L o u is
C lev C in C h ic & S t L o u is .
3 0 2 ,8 0 6 i R u t l a n d ___________________
4 5 ,0 4 8
3 8 ,193
M ich ig a n C e n tra l__________
2 7 2 ,3 7 3 ] A la N e w O r l& T e x P a c (3rds)
3 3 ,629
M in n eap S t P & S S M ____
262 ,5 0 2 T o r o n t o H a m & B u ff a l o -W a b a s h ............. ................ ..
262 ,206 S o u th e rn I n d ia n a ------------3 3 ,503
32,830
C a n adian N o r t h e r n _______
260 ,5 0 0 ] Io w a C e n tra l______________
30,837
W heeling- & L a k e E r ie ____
2 2 7 ,5 7 4 ! T e x a s C e n tra l______________
S o u th e rn R a ilw a y ________
166 ,6 8 4 }
L o u is v ille & N a s h v ille ____
146,762 [ T o t a l (44 r o a d s ) _______ $1 0 ,7 4 5 ,4 2 7
C o lo ra d o & S o u th e r n ______
132 ,993 i
Cine N ew O il & T e x P a c 120 ,3 5 3 Y a z o o & M iss V a ll e y ____ - ^ 3 1 ^ 6 2 6
L a k e S h ore & M ich S ou th ern 118 ,549 I

To complete our analysis we furnish the following
six-year comparisons of the earnings of the leading
roads, arranged in groups.

7,856
69,680

5,353,300
3,509,300

2.044,458
1,978,240

R E C E IP T S O F COTTON A T SO U T H E RN PO RTS IN M A Y , A N D FR O M JA N . 1
T O M A Y 31 1907, 1906 A N D 1905.

- )•

$
$
36,190,355 + 1,413,992
38,694,312 +5,648,580
41,861,285 + 2,708,016
47,911,099 + 4,934,647
52,167,814 + 5,236,185
50,323,090 + 4,619,227
62,565,693 + 7,462,602
54,001.062 — 1,866,181
44,543,718 + 3,823,386
69,742,596 + 9,3 23,1 16
72,722,063 + 10,889,344

W E S TE R N G R A IN R E C E IP T ?.
Five weeks end
Flour.
Wheat.
Corn.
Oats.
ing June 1.
(bbls.)
(bush.)
(bush.)
{bush.)
Chicago—
1907.............. - 924,837 1,480,584 7,380,669 9,416,852
1906.............. - 773,003
659,861 8,444.639 7,216,562
Milwaukee—
205,000
806,000
1907_______
359,875
569,458
457,600
363,850
1906_______
700,000
329,575
St. Louis—
1907_______
256,120
672,794 3,644,384 2,616.700
1900......... ..
200,500
983,229 4,215,800 2,235,600
Toledo—
1907.............. _
191,500
373,400
729,000
1906----------- _
152.000
694,000
454,200
Detroit—
458,370
1907..............
11,800
224,822
333,497
33,700
329,860
1906..............
108,389
185,555
Cleveland—
4,936
444,437
1907_______
45,111
733,466
6.033
392,721
1906_______
58,746
594,944
Peoria—
74,250
72,000 1,610,800 1,163,700
1907_______
54,000 1,750,000 2,520,500
1900......... — . 132,750
Duluth—
222,240 5,1S1,238
439,096
7,493
1907_______
602,200 1,285,307
1900_______
272,547
M inneapolis —
______
8,491,130
319,320 1,005,520
1907_______
1 90 6.............
3,836,770
222,840 1,233,040
Kansas City—
1997.............. _
1,028,000 1,539,000
490,700
1906------------ ...................
1,417,000 1,879,000
694,800

We have already' stated”that the cotton movement
in the South was smaller. The shipments overland
for the month were only 58,450 bales in 1907, against
72,900 bales in 1906 and 106,311 bales in 1905. The
receipts at the Southern ports were 250,876 bales,
against 337,200 bales in 1906 and 626,431 bales in
1905, as will appear by the table we now subjoin.

Increase ( + )

Gross Earnings.

Year Y r.p re­ In Given. ceding. cr’se.

Total o! all—
1907.............. -] ,854,058
1906.............. ..2,078,421
Jan. 1 to Juiie I —
Chicago—
1907.............. .4,306,215
1 9 0 6 --.......... .3,905,191
Milwaukee—
1 9 0 7 ............. .1,013,925
1906_______ .1,002,850
St. Louis—
1907.............. .1,226,800
1900_______ .. 917,285
Toledt)—
1907..............
1 9 0 0 .............
Detroit—
1907____
53,700
1906____
127,900
Cleveland—
1907_______ .
21,958
1900_______ 25,886
Peoria—
1907.............. - 416,850
1906_______ - 436,450
Duluth—
1907.............. - 398,740
1906.............. - 812,500
Minneapolis—
______
1 9 0 7 --..........
1906..............
Kansas City—
______
1907..............
1906.............. ...................

1403

THE CHRONICLE.

J u n e 15 1907. J

EA R N IN G S OF SO U T H E R N G RO U P.
1907.

1906.

1905.

1904.

1903.

1902.

$
386,210

$
315,943

$
277,976

$
254,526

$
250,491

S
210,600

262,768
121,695
121,293
875,100
75S.023
3,839,513
873,271
4,531,675
728,959

236,188
105,865
111,528
763,552
643,351
3,206,274
715,975
3,850,972
599,460

182,115
91,102
97,208
060,127
610,510
2,920,407
652,044
3",532,129
581,444

194,369
S7,707
109,582
033,816
010,323
3,024,385
523,005
3,448,780
625,941

172.926
78,168
88,493
556,715
547,887
2,625,300
599,364
3,173,370
462,994

T otal. _____ 13,085,632 12.428,240 10,511,141

9,581,612

9,508,459

8,515,817

M ay.

Ala G t S o u th ..
Ala N O& TP —
N O 4 N E.
281,838
Ala <fe V icks.
132,537
VieksSh&P
129,574
Cent of G a____
94.5,950
Cin NO & T P .
878,376
Louis & Nashd 3,986,275
Mobile & Ohio..
949,180
Southern R y _ 4,698,359
Yazoo&M issV
697.333

d Includes earnings of Atlanta K noxville & Northern in 1904. 1905.1906 and 1907.
E A R N IN G S OF M ID D LE A N D M ID D L E W ESTER N
M ay.

1907.
$
849,962
508,902
2.292,409
253,430

Buff Roch& Pit
Chic Ind & Lou
C C C & S t L ._
Peo & East.
Gr Tr of Can. 1
Gr Tr W e s t ., y 63,908,674
D etG rH & M il j
Illinois Central 4,835,104
N Y G & H R a 8,418,605
T ol Peo & W . .
112,776
T ol St L & W .
339,604
W a b a sh ............ 2,281,073
W heel & L E . .
570,390

1906.

1905.

1904.

S
387,553
501,805
1,989,663
237,574

S
769,447
496,973
1,7-58,775
202,804

s
626,191
454,773
1,775,884
250,120

3,403,704

3,081,167

2,976,555

4,258,971 3,821,078
7,250.241 7,137,502
102,658
94,293
311,429
310,495
2,018,867 1,860,198
428.780
342,816

3,794,563
6,369,999
104,110
298,417
1,889,106
309,005

GROUP.

1903.
S
652,128
439,524
1,806,680
273,974
[2,348,086
i 4S6.163
{
78,837
4,043,794
6,712,479
100,095
247,932
1,928,672
378,556

1902.
S
584,135
420,629
1,532,042
217,279
2,053,663
423,386
97,330
3,462,809
5,903,015
98,304
207,423
1,510,700
342,555

T otal_______ 24,370,989 20,796,916 19,969,877 18,848,723 19,496,920 16,913,990
a The Fall Brook System , the Beech Creek R R .. the W allkill Valley R R . and the
Boston & Albany included for all the years.
b Includes Canada & Atlantic, beginning with O ctober 1904.

1404

THE CHRONICLE.
E A R N IN G S O F S O U T H W E STE R N G R O U P .

M ay.

1907.

Col & S o u th ..
Den & R io G _.
Int & Gt N or. .
Mo K an & Tex
MoPac&CenBr
St L & So W . .
Texas & P a c ..
Total_______

1906.

1904.

1905.

N a m e? o f R oad.
1902.

1903.

$
938.456
1,681,600
528,025
1,687.740
3,827,000
767,829
1,006,355

S
753,941
1,447,360
490,503
1,667,725
3,511,290
672,964
877,163

$
536,769
1,318,682
366,830
1,331,847
3,289,412
558,461
798,891

$
694,458
1,416,881
421,264
1,395,285
3,324,803
534,659
910,348

$
659,604
1,389,612
379,262
1,337,896
2,955,879
573,357
804,072

12,081,509 10,437,005

9,420,946

8,200,892

8,697,698

8,099,682

$
1.071,449
1,795,300
557,000
2,271,842
4,160,000
883,858
1,342,060

a For 1907 and 1906 includes all affiliated lines except T rinity & Brazos Valley
R R . and for 1905 includes all affiliated lines w ithout any exception. For previous
years we have com bined Colorado & Southern and F ort W orth & D enver City.
E A R N IN G S O F N O R T H W E S T E R N A N D N O R T H PA C IFIC G R O U P .
M ay.

1906.

1905.

1904.

1903.

1902.

$
5,545,000
0688,054
265,215
4.381,023
229,462
304,661
890,403
5,469,545

S
4,229,131
0609,812
252,279
3,667,593
207,375
253,521
672,967
4,427,181

$
4,113,626
586,531
181,925
3.044,643
178,219
197,311
489,229
3,716,908

$
3,902,962
633,162
244,305
3,211,030
180,656
227,943
579,525
3,799,831

$
3,237,082
588,450
226,553
2,917,243
208,745
289,699
527,984
3,406,274

1907.

$
Canadian Pac. 6,889,000
ChicGt W est .
0711,986
D ul So Sn&Ati
322,865
G t N orth Sys._ 5,639,542
Iow a C en tral..
262,292
Minn & St L__
311,253
M St P & S S M 1,152,905
Northern P a c. 6.404,777
Total............

21,694,620 17,773,363 14,319,859 12,508,392 12,779,414 11,402,030
*

a Results are based on 111 miles less road.
G R O S S E A R N IN G S A N D M IL E A G E IN M A Y .
G ross E a rn in g s.

M ile a g e .

N a m e of R oad.

A la b a m a G t S ou th ern
A la N O <5e T e x P a c—
N ew O rl & N o r E ’n .
A la & V ic k s b u r g ___
V ic k s S h rev & P a c .
B e lle fo n te C en tra l___
B u ff R o c h & P it t s ____
C a n a d ia n N o r t h e r n ..
C a n ad ian P a c i f i c . ___
C en tral o f G e o rg ia ___
C h a tta n o o g a S ou th ern
C h ica g o G t W e s t e r n . _
C h ic In d & L o u is v ___
C h ic In d & S o u t h e r n .
C h ica g o T erm T r a n s . .
C in e N ew O rl & T P . .
C in cin n a ti N o r t h e r n . .
C lev C in e C h ic & S t L_
P eoria & E a s t e r n ..
C o lo r a d o & S o u t h e r n .
D e n v e r & R io G ra n de
D e tr o it & M a c k i n a c ..
D e tr o it T o l & Iro n to n
D u lu th S o Sh & A t l . .
G eorg ia S ou & F la ___
G ra n d T ru n k o f Can .I
G rand T r u n k W est >
D e t Gr H a v & M ill
C anada A t la n t ic ..j
G t N o r t h ’n St P M &
M (in cl E ’n o f M inn)
M o n ta n a C en tra l___
G u lf & Ship I s la n d ___
Illin o is C en tral
___
In t e r n a t ’l & G t N o r _ .
I o w a C e n tra l_________
L a k e E rie & W e s te r n .
L a k e Sh & M ich S o u .
L ou isv ille & N a s h v . .
M a con & B irm in gh a m
M a n i s t iq u e _____
M ich ig a n C en tra l____
M in eral R a n g e ___ __
M in n eap & St L o u is . .
M in n St P & S S M . . .
M o K an sas & T e x a s . .
M o P a c & Ir o n M t n ..
C en tral B r a n ch ____
M ob ile & O h io ________
N e v a d a C a lif & O r e . .
N Y C en t & H u d R i v .
N Y C h ic & St L o u is . .
N orth ern P a c i f ic _____
P itsb u r g h & L E r i e . .
R io G ra n de S o u th e r n .
R u tla n d . . . _____
S t L ou is S o u th w e s t’ n
S ou th ern I n d ia n a ____
S ou th ern R a ilw a y ___
T e x a s Cen tral
T e x a s & P a c ific _______
T o l P eoria & W estern
T o l St L & W e s t e r n . _
T o r o n t o H a m & B u ff.
V ir g in ia S ou th w estern
W a b a sh
____ __
W es tern M a r y la n d ___
W h e e lin g & L a k e Eire
Y a z o o & M iss V a lle y .
T o t a l (67 r o a d s ) ___
N et in crea se (14.97 % )

190 7.

190 6.

In c . ( + ) or
D e c . (— ) .

$

$

$

386 ,2 1 0

1907.

1906.

3 1 5 ,9 4 3

+ 70,267

309

309

281 ,8 3 8
132 ,537
129,574
5,562
849,962
870 ,600
6 ,8 8 9 ,0 0 0
945 ,950
15,576
711 ,9 8 6
5 08 ,902
244 ,806
143 ,750
878 ,376 1
86,263
2 ,2 9 2 ,4 6 9
253 ,430
1,0 7 1 ,4 4 9
1 ,7 9 5 ,3 0 0
1 14 ,093
3 71 ,225
322,865
1 74 ,099

262 ,768
121 ,695
121 ,293
4,3 9 5
387 ,553
610 ,100
5 ,5 4 5 ,0 0 0
875,100
12,883
688,054
501 ,805
168,549
143,445
758 ,023
86,303
1,9 8 9 ,6 6 3
237,574
938 ,456
1 ,6 8 1 ,6 0 0
104,893
317,601
265 ,215
164,967

+ 19,070
+ 10,842
+ 8,281
+ 1,167
+ 462 ,409
+ 260,500
+ 1 ,3 4 4 ,0 0 0
+ 70,850
+ 2,693
+ 23,932
+ 7,097
+ 76,257
+ 30c
+ 120,353
— 40
+ 302 ,806
+ 15,856
+ 132,993
+ 113 ,700
+ 9,200
+ 53,624
+ 57,650
+ 9,132

196
143
189
27
568
2,554
9,055
1,898
105
818
591
340
102
336
248
1,983
351
1,858
2,532
343
684
592
395

196
143
189
27
568
2,100
8,776
1,878
105
818
591
340
102
336
248
1,983
351
1,646
2,4 7 0
333
684
592
395

3 ,9 0 8 ,6 7 4

3 ,4 0 3 ,7 0 4

+ 504 ,9 7 0

4,5 2 8

4,528

5 ,4 0 7 ,7 0 2
231 ,840
210,471
4 ,8 3 5 ,1 0 4
557 ,000
262,292
4 15 ,4 4 9
3 ,7 7 0 ,6 6 0
3 ,986,275
11,221
7,795
2 ,3 7 1 ,4 6 0
78,597
311 ,253
1 ,152,905
2 ,2 7 1 ,8 4 2
4 ,0 3 2 ,0 0 0
128 ,000
949 ,180
24,723
8 ,4 1 8 ,6 0 5
891,002
6 ,4 0 4 ,7 7 7
1 ,3 0 0 ,1 9 3
47,859
272 ,168
883 ,858
1 28 ,793
4 ,6 9 8 ,3 5 9
96,113
1 ,3 4 2 ,0 6 0
112,776
339 ,604
91,418
94,709
2 ,2 8 1 ,0 7 3
540 ,0 5 2 '
570 ,390 ;
697 ,333 !

4 ,1 5 8 ,3 5 4
222 ,669
201 ,242
4 ,258,971
528,025
2 29 ,462
400 ,445
3 ,652,111
3,8 3 9 ,5 1 3
12,923
13,693
2 ,0 9 9 ,0 8 7
61,593
304,661
890 ,403
1 ,6 8 7 ,7 4 0
3 ,6 8 7 ,0 0 0
140,000
873,271
20,5 2 0
7 ,250,241
844 ,236
5 ,4 6 9 ,5 4 5
1 ,3 1 4 ,5 3 2
46,7 7 7
227 ,120
767 ,8 2 9
9 5 ,290
4 ,5 3 1 ,6 7 5
65,276
1 ,0 0 6 ,3 5 5
94,293
311 ,4 2 9
57,789
95,316
2 ,0 1 8 ,8 6 7
465 ,453
342,816
7 28 ,959

+ 1,2 4 9 ,3 4 8
+ 9,171
+ 9,229
+ 576,133
+ 28,975
+ 32,830
+ 15,004
+ 118 ,549
+ 146,762
— 1,702
— 5,898
+ 272,373
+ 17,004
+ 6,592
+ 262 ,502
+ 584 ,102
+ 345 ,000
— 12,000
+ 7 5 ,9 0 9
+ 4,203
+ 1 ,1 6 8 ,3 6 4
+ 46,766
+ 935 ,2 3 2
— 14,339
+ 1,082
+ 45,0 4 8
+ 116 ,029
+ 33,503
+ 166,684
+ 30,837
+ 335 ,705
+ 18,483
+ 28,175
+ 33,629
— 607
+ 262 ,206
+ 74,5 9 9
+ 227 ,5 7 4
— 31,626

6,039
250
307
4,371
.1,1 5 9
558
886
1,520
4,3 0 7
105
78
1,745
140
799
2,152
3,072
6,014
388
926
144
3,7 8 4
523
5,7 8 2
191
180
468
1,451
197
7,552
268
1,826
248
451
88
134
2,517
544
498
1,239

5,974
250
279
4,459
1,159
558
886
1,520
4,206
105
78
1,745
140
799
1,997
3,043
5,951
388
926
144
3,774
523
5,781
191
180
468
1,451
197
7,516
268
1 ,826
248
451
88
134
2,517
544
498
1,2 1 0

8 3 ,6 1 1 ,4 0 7 j 7 2 ,7 2 2 ,0 6 3 + 1 0 ,889,344 93,646 92,180

M ex ica n R o a d s (n o t
n clu d e d in to ta ls.)
I n te r o ce a n ic o f M e x . .
647 ,114 ;
646 ,962
M ex ica n In tern a tion a l
773,045;
737,121
M ex ica n R a il w a y ____
y454 ,70 0j
1/411,100
M ex ica n R a il w a y ____
J/83,598
1/71,188
N a tio n a l R R o f M e x . _ 1 1,571,2661
1 ,2 7 2 ,1 0 9
H id a lg o & N o r ’ e ’ n .
84,722j
91,308

+ 152
+ 35,924
+ 4 3 ,6 0 0
+ 12,410
+ 299 ,157
— 6,586

736
911
321
263
1,730
152

736
884
321
263
1 ,7 3 0
152

V T h ese figu res are f o r th ree w e e k s o n ly ; fo u r th w e e k o f M a y n o t y e t re­
p o rted .
G R O S S E A R N I N G S F R O M J A N U A R Y 1 T O M A Y 31.
N am e

of

R oad.

A la b a m a G rea t S o u t h e r n ..
A la N ew O rl & T e x P a cific
N ew O rl & N o r E a s te r n .
A la & V i c k s b u r g _______
V ic k s S h rev & P a c ific ___




190 7.

1906.

In crea se.

S
1 ,7 7 1 ,8 7 7

$
1,6 0 6 ,4 4 5

$
165 ,432

1,373,611
687 ,7 3 9
7 0 1 ,9 1 0

1 ,3 4 6 ,0 8 0
621 ,478
610,511

27,531
66,261
91,3 9 9

D ecrea se.
$

B e lle fo n te C e n tra l__________|
B u ff R o c h e s te r & P it t s ____
C a n ad ian N o rth e r n ________ !
C a n ad ian P a c ific ___________
C en tral o f G e o rg ia _________
C h a tta n o o g a S o u th e r n ____
C h ica g o G reat W e s te rn ____
C h ica g o In d ia n a p & L o u is v
C h ica g o In d ia n a & S o u t h ’n}
C h ica g o T e rm in a l T ran sfer
C in e N ew O rl & T e x P a c ..|
C in cin n a ti N o rth e r n _______ 1
C lev C ine C h ica g o & St L . .
P e o ria & E a s te rn ________
C o lo r a d o & S o u th e r n _______
D e n v e r & R io G ra n d e______
D e tr o it & M a c k in a c________
D e tr o it T o le d o & f r o n t o n . .
D u lu th S o Sh & A t l a n t i c ..
G e o rg ia S ou & F la _________
G ra n d T ru n k o f C a n a d a .-1
G rand T ru n k W e s t e r n .. ^
D e tr o it Gr H a v & M llw . |
C a n ad a A t la n t ic ________ J
G t N o rth e rn St P M & M
(in cl E astern o f M i n n ) . .
M o n ta n a C e n tra l________
G u lf & S hip I s la n d _________
Illin o is C e n tra l_____________
In te r n a tio n a l & G t N o r ’n __
I o w a C e n tra l_______________
L a k £ Erie & W e s te rn ______
L a k e Sh ore & M ich S o u th ’n
L o u is v ille & N a s h v ille ______
M a co n & B ir m in g h a m ______
M a n is t iq u e _________________
M ich ig an C e n tra l___________
M ineral R a n g e _____________
M in n & St L o u is ____________
M in n St P & S S M _________
M issouri K an sas & T e x a s ..
M issouri P a cific & Ir o n M tn
Cen tral B r a n ch _________
M o b ile & O h io _____________ ]
N e v a d a C a lif & O re g o n ____ i
N Y C en t & H u d R iv e r ____
N Y C h ica g o & St L o u is ___ j
N o rth e r n P a c if ic ___________ |
P itts b u r g h & L a k e E r ie ___ I
R io G ra n de S o u th e r n ______i
R u t l a n d ____________________ !
S t L o u is S o u th w e s te r n ____ I
S o u th e rn I n d ia n a __________
S o u th e rn R a ilw a y _________ j
T e x a s C e n tra l____________ . ..
T e x a s & P a c ific ____________
T o le d o P e o ria & W e s t e r n ..
T o le d o St L o u is & W estern ]
T o r o n t o H a m & B u ffa lo . .
V ir g in ia S o u th w e s te r n ____
W a b a s h _____________________ !
W e s te rn M a r y la n d __________!
W h e e lin g & L a k e E rie _____ j
Y a z o o & M iss V a lle y _______

[V o l .

l x x x iv

190 7.

1906.

24,964
3,5 1 7 ,1 2 6
2,6 1 3 ,9 0 0
2 7 ,8 8 7 ,2 0 4
5 ,1 5 9 ,8 1 8
73,447
3 ,6 3 1 ,7 5 5
2,3 6 6 ,1 5 5
1,2 4 4 ,6 4 9
692 ,203
3 ,6 0 5 ,9 2 3
397 ,2 5 0
1 0 ,1 1 5 ,9 2 5
1 ,1 7 5 ,6 4 0
5 ,4 4 8 ,8 7 0
8 ,4 1 8 ,0 6 9
5 70 ,100
1 ,7 0 3 ,4 3 8
1,3 1 0 ,5 0 8
976,483

S
22,568
2 ,7 2 3 ,0 5 0
2 ,2 5 7 ,8 0 0
2 4 ,7 7 6 ,4 2 8
4 ,6 6 6 ,7 8 5
60,052
3 ,4 6 7 ,2 8 7
2,2 8 0 ,1 1 0
9 76 ,854
7 09 ,684
3,670,713
3 81 ,503
9 ,3 2 2 ,7 2 7
1 ,2 0 3 ,9 4 9
4,6 5 2 ,7 9 9
7 ,7 1 2 ,9 2 0
504,945
1,6 7 8 ,0 6 7
1 ,1 8 3 ,7 6 0
839,761

17,2 1 0 ,5 9 6

1 5 ,3 5 0 ,7 3 3

1 ,8 5 9 ,8 6 3

1 9 ,1 2 3 ,1 4 3 1 8 ,3 3 1 ,9 0 4
1,083,551
1,1 2 4 ,4 6 5
1 ,096,417
959,197
2 3 ,6 7 4 ,3 4 6 2 2 ,0 1 6 ,7 9 5
3 ,3 7 5 ,3 9 4
2 ,5 5 8 ,0 1 0
1,2 8 7 ,2 2 9
1,1 9 2 ,3 4 3
2 ,0 0 9 ,6 4 2
2 ,1 2 2 ,9 1 8
17,7 9 8 ,4 3 3 1 7 ,0 4 9 ,7 9 9
2 0 ,2 2 8 ,4 4 2 18,2 7 6 ,4 3 9
67,604
fi4,203
36,669
26,218
1 1 ,4 5 7 ,8 5 5 1 0 ,4 4 5 ,7 0 0
2 95 ,968
329 ,692
1 ,3 7 9 ,9 2 8
1 ,5 2 7 ,6 2 0
4 ,3 7 9 ,2 3 2
4 ,7 9 8 ,8 1 7
8,2 0 3 ,2 4 8
1 0 ,7 3 4 ,1 9 8
19,2 6 2 ,0 0 8 1 7 ,5 6 8 ,7 2 9
669 ,000
7 06 ,000
4 ,7 3 6 ,4 8 7
4 ,121,371
87,574
76,656
3 8 ,2 4 6 ,6 3 5 3 5 ,2 2 9 ,5 7 9
4 ,3 9 9 ,4 5 4
4,0 9 4 ,3 6 9
2 6 ,0 2 6 ,8 7 9 2 3 ,8 5 7 ,8 7 1
5,6 5 5 ,5 4 0
5,6 8 7 ,3 8 0
235,774
220 ,964
1 ,0 1 0 ,0 6 7
1 ,1 1 7 ,1 9 6
3 ,6 6 8 ,8 2 6
4 ,3 5 5 ,3 4 3
567 ,487
662 ,572
2 3 ,6 0 4 ,7 6 4 2 2 ,7 4 3 ,4 2 3
539,837
365 ,239
7 ,1 2 9 ,1 7 4
5 ,6 0 1 ,9 7 0
503 ,1 5 4
519 ,6 0 0
1,6 3 7 ,2 1 7
1,6 3 4 ,4 5 8
400,9481
307 ,3 2 6
466 ,286
4 4 2 ,0 4 4
1 0 ,7 9 7 ,9 4 2 1 0 ,0 0 5 ,3 8 5
2 ,3 9 3 ,6 2 2
2 ,0 2 6 ,8 1 8
2 ,4 3 7 ,0 7 3
1 ,9 5 9 ,7 9 5
4 ,0 6 4 ,6 8 2
4 ,1 2 7 ,0 4 5

791 ,2 3 9

.

D ecrea se.
2,396
794 ,076
356 ,100
3 ,1 1 0 ,7 7 6
493 ,033
13,395
164,468
86,045
267,795
17,481
64,790
15,747
793,198
796,071
705 ,1 4 9
65,155
25,371
126 ,748
136,722

28,309

40,914
1 37 ,220
1,657,551
8 17 ,384
94,886

113 ,276

748’,634
1 ,952,003
3,401
10,451
1,0 1 2 ,1 5 5
3 3 ,724
147,692
4 19 ,585
2 ,5 3 0 ,9 5 0
1 ,6 9 3 ,2 7 9
615*116
1 0,918
3 ,0 1 7 ,0 5 6
3 05 ,085
2 ,1 6 9 ,0 0 8
31,840
" 1 4',8 l6
1 07 ,129
686 ,5 1 7
95,085
861,341
174,598!
1 ,5 2 7 ,2 0 4
16,446
2,759
93,622
? 24,2421
7 92 ,557
366 ,804
4 77 ,278
62,363

T o t a l (67 r o a d s ) . . ............. 3 8 0 ,8 0 2 ,3 3 0 347 ,5 3 0 ,8 2 1 33,618,971
3 3 ,2 7 1 ,5 0 9
N e t in cre a se ( 9 .8 0 % ) ______' ___________
\i.
M e x ica n R o a d s (n o t in cl in to ta ls) —
257,929
2 ,8 7 7 ,8 2 8
I n te r o ce a n ic o f M e x ic o ____
3 ,1 3 5 ,7 5 7
382 ,638
3 ,3 8 6 ,6 4 9
M e x ica n I n te r n a tio n a l____ I 3 ,7 6 9 ,2 8 7
425 ,500
i 2 ,6 9 3 ,8 0 0
M e x 'c a n R a ilw a y ___________ j 2/3,119,300
28,502
S/500,852
M e x ica n S o u th e r n _________ 1 y 529,354
6 ,0 1 3 ,4 0 7 1 ,0 4 6 ,7 4 8
N a tio n a l R R o f M e x ic o .-___
7 ,0 6 0 ,1 5 5

[3 4 7 ,4 6 2

V T h ese figu res are d o w n t o th e th ird w e e k o f M a y o n ly .

ITEMS ABOUT BANKS, BANKERS AND TRUST CO.’S.
— No bank stocks were offered at the auction sale this
week and none were sold at the Stock Exchange. The on ly
transaction in trust com pany stock was a sale at auction of
40 shares of Carnegie Trust Co. at 250.
S hares. T R U S T C O — N ew Y o r k . L o w .
40 C a rn egie T r u s t C o ____________ 250

H ig h . C lose.
270
250

Last p reviou s s a le.
M ay
19 0 7 — 225

— Governor Stuart of Pennsylvania has signed a bill
which will tend to increase the deposits o f national banks
and trust companies, and for that reason it was favored
with the support o f the managers of those institutions.
The new law provides that every person, firm or unincor­
porated association in Pennsylvania who shall hereafter
engage in the banking business within the Com m onwealth,
and who shall hold themselves open to the public for the
purpose of receiving m oney on deposit or otherwise, shall
report to and be su bject to the supervision of the Commis­
sioner of Banking and to the laws governing his office at all
times. The new law is aimed particularly at bankers in the
Italian colony, b u t it is so broad that it includes all brokers
who receive deposits and such im portant banking houses as
Drexel & Co. and Brown Bros. & Co. A number of brokers
have already taken steps to have all depositors close their
accounts. The larger banking houses, some of which carry
a very heavy line of deposits, will of course not give up this
feature of their business, and will therefore be subject to
investigation b y the examiners of the Commissioner of
Banking.
— A test case has been brought in this city to decide the
validity of the law giving the State Comptroller or his repre­
sentative the right to inspect the books of brokerage houses
recording the transactions of stock transfers. On a summons
taken out at the instance of Assistant District Attorney
K eogh, who is co-operating^with State Comptroller Glynn,

J une 15 1907.]

THE CHRONICLE.

1405

____________ i-----------------

F. E . Kahn, a member of the Stock Exchange house of Herzfeld & Stern, appeared before Magistrate Moss this week,
charged with violating Section 321, Chapter 324 of the Laws
o f 1907, in refusing to allow a representative of the Com ptrol­
ler to examine the firm's books. By agreement Mr. Kahn
was paroled in the custody of his counsel until the 27th inst

capital. Frederick Phil lips, Secretary of the com pany, who
is known to a large num ber of bankers and merchants
throughout the country, is interested in a m ovem ent looking
to uniform trust com pany laws and Federal supervision of
trust com panies, provided they be legalized as national de­
positories.

— An adjustm ent of the relations between the banks and
the trust companies has been reached in Baltimore. A t a
meeting of the Baltimore Clearing-House Association on Tues­
day, a resolution was adopted permitting members of the
association to clear for non-m embers. This practice was
form erly prohibited under Section 14 of the Clearing-House,
now repealed. The new rule becomes effective at once.
There has also been adopted an am endment providing that
after July 1 Clearing-House banks shall charge current rates
of exchange on ou t-of-tow n collections to all non-m ember
banking institutions. Most of these non-members, the
Baltimore “ Sun” states, now pay thisjcharge to their deposi­
tory banks, and as the others have expressed a willingness
to do so if the rule is uniform , it is not thought any difficulty
will be experienced in carrying the arrangement into effect.

— The Mercantile National Bank of this city has declared
an extra dividend of 1% in addition to the semi-annual
distribution of 5 % , both payable July 2 . The institution
paid 5 % on Jan. 2 last, previous to which the rate had been
4 % each semi-annual period.
— The German Exchange Bank of this city has made a
further increase in the seini-annual dividend, declaring 10%
payable July 1, as against 8 % paid Jan. 2. This last repre­
sented an increase o f 1% in the semi-annual distribution,
7 % having been paid each half-yearly period previously.
— John B. Jones has replaced S. H . Vandergrift as VicePresident of the Beaver National Bank of this city.
— Henry S. Kerr, form erly of the firm of R edm ond, Kerr
& Co. of this city, which was dissolved three years ago, died
on the 8th inst. He was forty-tw o years of age.

— Governor Chester Guild Jr. of Massachusetts has signed
— A a meeting of the directors of the Nassau Bank of this
the bill w hich reduces the necessary capital of trust companies
■city on W ednesday John Munro was elected a Vice-President.
from $500,000 to $200,000 in cities with a population of over
— During the past week some of the directors of the Bronx
100,000 and from $200,000 to $ 100,000 in municipalities with
Borough Bank, of which C. Adelbert Becker is President,
a lesser population. The bill was published in this depart­
purchased control of the Cosm opolitan Bank, located near
m ent last week.
the corner of Westchester and Prospect avenues, Borough of
— A Clearing House Association has been organized b y the the Bronx. We are inform ed that no consolidation will take
financial institutions of Y ork, Pa. Its officers are: Presi­ place at present; the tw o banks will, however, be closely
dent, John J. Frick, Cashier of the Y ork National Bank; allied, Mr. Becker being at the head of both institutions.
Treasurer, Ellis S. Lewis, Treasurer of this Y ork Trust Com­ The Bronx Borough Bank, which is located at 702-704 Trepany; Secretary, W illiam R . Horner, Cashier of the Y ork m ont Avenue, has been rapidly increasing its business and
County National Bank.
I t is expected that the clearing­ its deposits are now over $1,500,000. The bank has a
house will be in operation within a m onth.
capital of $ 100,000 and a surplus of the same am ount.
— Archibald G. King has been appointed an additional
— Another consolidation of banking institutions in P rovi­
Assistant Treasurer of the K nickerbocker Trust Com pany dence has been effected. On M onday of this week the busi­
of this city.
ness of the Fourth National Bank was transferred to the
— The new statement of the Farmers’ Loan & Trust Com­
pany, of which Edwin S. Marston is President, shows quite
a notew orthy increase for the past five months. Deposits
on June 4 last are reported at $84,916,638 as against $78,445,775 on Jan. 1 1907, and aggregate resources show
4,336,602 as against $88,096,786.
— Henry M. Post, the Exchange member of the firm of
Post Bros. & Co. of this city, was reinstated on Thursday,
the Governors having remitted part o f the six m onths’ sen­
tence imposed last February for an unintentional infraction
of the rules.
— The directors of the Mercantile Trust Com pany and the
Equitable Trust Company of this city this week approved
the plans agreed upon for the consolidation of the institu­
tions. The consolidated com pany, which will continue un­
der the name of the Mercantile, will begin business about
July 1 with a capital of $3,000,000 and a surplus of about
$15,000,000. Alvin W . K rech, President of the E quitable,
is to be a t the head of the united institution. Under the
agreement adopted b y the boards of d irectors, the stock­
holders of the Equitable (capital $3,000,000) m ay elect to
take $435 a share in liquidation of their stock, or one share of
stock of the enlarged com pany for two shares of Equitable
stock. The stock of the Mercantile Trust Com pany (capital
$2,000,000) has recently been quoted at $850 asked and that
of the Equitable at $435 asked. The Mercantile has deposits
of over $40,000,000, while those of the Equitable exceed $18,000,000. The action of the directors will be ratified b y the
stockholders on July 2 . The proposed merger was approved
yesterday by State Superintendent of Banking Charles H.
Keep.
— An interesting record of growth is displayed b y the Lin­
coln Trust Company of this city in its deposits and in the
number of its depositors, in a recent advertisement, as m ay
be seen from the figures given herewith: D ec. 31 1902, $ 2,707,116 46; depositors, 349; Dec. 31 1903, $7,382,107 29;
depositors, 2,219; Dec. 31 1904, $13,150,280; depositors,
3,807; Dec. 31 1905, $17,081,246 13; depositors, 5,214; D ec.
31 1908, $21,384,142 39; depositors, 6,951, and June 8 1907,
$25,022,914 98; depositors, 8,127. The directors this wtjek
declared the quarterly dividend of 3 % on the $1,000,000




United National Bank of that city. The Fourth National
was chartered as the Continental Bank in 1853, becom ing a
national institution in 1864. I t has a capital of $500,000,
surplus and profits of $204,559 and deposits of about $500,000. The stockholders will m eet on July 17 to authorize its
liquidation. The United National Bank, b y w hich it is
taken over, is controlled, it is understood, b y the Industrial
Trust Com pany of Providence. John D . Lewis, President of
the Fourth National, has been elected a Vice-President and
director of the United National.
— A . J. Foster has been elected to succeed the late Samuel
B. Hopkins as President of the People’s National Bank of
R oxbu ry (B oston ), Mass.
— Arthur E. Appleyard, a broker, was suspended from the
Philadelphia Stock Exchange on Thursday. The action, it
is understood, is due to the fact that Mr. Appleyard, who
had recently been a heavy trader in United Gas Im provem ent
securities, had failed to make a deposit of the stock or to put
up the necessary margin in the required time. Previous to
this, Mr. Appleyard had not been active ' n business affair
since the failure of the German Bank of Buffalo, due in great
measure because of loans made to him. In a settlement
arrived at several weeks ago, Receiver Wheeler was author­
ized to accept an offer of $40,000 made b y Mr. Appleyard,
and this m oney was to have been paid this week.
— A useful little manual for European travelers has been
issued by the Trust Com pany of North Am erica of Philadel­
phia. The booklet covers the subject of “ Foreign M oney,”
and while it does not pretend to be a comprehensive work,
being designed primarily to assist the traveler in Europe to
understand English, French and German currency, it gives
nevertheless, m uch inform ation likely to be serviceable to
him. The kind of m oney to be taken b y the tourist is the
first question answered in the booklet. Not a few experi­
enced travelers, it is stated, carry as a reserve fund a sum
of m oney in United States notes; but if this is done they
should be gold notes. On the Continent these gold notes are
often taken b y bankers at a favorable rate of exchange.
“ On the whole, h ow ever,it is probable that Bank of England
notes are more generally acceptable all over the world than
any other paper currency. If it is found expedient to carry

1406

THE CHRONICLE.

any considerable am ount of m oney in currency the tourist
cannot well do better than supply himself with this form of
m oney. The reason for this is that London, being the great
banking centre, London exchange is always in demand all
over the w orld .” The traveler is cautioned against repudi­
ated and short-weight sovereigns, and made acquainted with
facts concerning the “ origin of the guinea,” the Bank of
England, “ mismatched n otes,’ ’ the Bank of France, the
Imperial Bank of Germany, the Latin Union, “ French g old ”
and British m oney, all of which make interesting reading.
Tables are given showing the value in United States m oney
of English, French and German paper m oney, gold, silver
and minor coins, and the values of the various coinages of
the world as fixed b y the D irector of the United States Mint.
— Since April of last year the total assets of the com bined
banking institutions of Lancaster County, Pa., have grown
from $36,626,248 to $37,030,974. The greater part o f the
latter am ount is held b y the national banks, these reporting
on May 20 1907 a total of $20,324,565; the trust companies
show $15,516,153 and the savings banks $1,190,256,
— Checks for the full am ount of the claims of the depositors
and creditors of the Columbia Savings & Trust Com pany of
Pittsburgh have, according to Pittsburgh “ M oney,” been
distributed b y Receiver George H. Calvert. The institution
closed its doors on May 9 1906. On the savings accounts
and creditors’ claims interest to the date of closing was
added, bu t on the checking accounts, it is stated, no interest
was allowed. The receiver also has on hand some $40,000
which will go toward paying the stockholders, besides some
assets still outstanding.
— Reese G. Brooks, President of the Dime D eposit & Dis­
count Bank of Scranton, P a., and Vice-President of the W est
Side Bank of that city, died on the 12th inst. He was sixtyone years of age.
— The stockholders of the W oodland Avenue Savings &
Trust Company of Cleveland, Ohio, have ratified a proposi­
tion to increase the capital from $250,000 to $350,000. The
selling price of the new stock— $160 per share of $ 100—
will enlarge the bank’s surplus also, making it $250,000.
The increased capital will becom e effective on July 1 .
— E. H. Flinn, heretofore Second Vice-President of the
Old Detroit National Bank of D etroit, has been chosen to
succeed the late Theodore D . Buhl as First Vice-President
of the institution. H. P. Baldwin has been elected Second
Vice-President.
— The German-American Bank of D etroit, M ich., will, it
is reported, increase its capital from $100,000 to $250,000.
The D etroit “ Capital” states that the present stockholders
are to receive a dividend of 7 0 % , payable in cash or in the
new stock at $120 per share.
— The Illinois Bankers’ Association will hold its annual
meeting on O ct. 9 and 10 at Moline, 111. Frank P. Judson,
Cashier of the Bankers’ National Bank of Chicago, is Secre­
tary of the association.
— A t a directors’ meeting of the State Bank of Chicago
on the 11th inst. a quarterly dividend of 2 J^% payable
July 1 was declared; also an extra dividend of
to be
added to the 2 % declared in April, thus raising the dividend
basis from 8 % to 10% per annum. For the past few years
the State Bank has enjoyed an unusual degree of prosperity,
having earned for the last three years 3 0 % on its capital
stock of $ 1,000,000. Its present deposits exceed $18,000,000.
$200,000 has just been transferred from undivided profits
to surplus, making the latter item $ 1,000,000, and still
leaving about $70,000 in the profit account
— An article on “ W h y the Small Investor Loses,” written
by Charles G. Dawes, President of the Central Trust Com­
pany of Illinois, Chicago, for the purpose of warning pros­
pective small investors against “ get-rich-quick” plans, has
been distributed in pamphlet form . This article was pub­
lished in the “ Saturday Evening P ost” of April 20 1907.
— S. M. Felton, President of the Chicago & Alton Railroad
Com pany, has been elected a director of the Central Trust Com­
pany of Illinois(Chicago)to succeed Frank O .Low den, resigned.
— The residuary legatees and managers of the Jennings
Real Estate Loan & Trust Bank, Chicago, have dropped the
title under which business was form erly done, and under
State authority, have adopted the name of the United States
Trust Com pany.




[V o l .

l x x x iv

.

— The Tennessee Bankers’ Association will m eet in annual
session on Tuesday and W ednesday of next week at Lookout
Mountain, Chattanooga. The address of welcome is to be
delivered by Senator Frazier, and the response made by
W . H . Gass, President of the K noxville Banking Company
of K noxville. Am ong the subjects to be discussed at the
meetings are the follow ing: “ Governm ent and the Banks,”
b y J. H . W atkins, Vice-President of the Bank of Commerce
& Trust Com pany, Memphis; “ Industrial Progress and the
Future of the Sou th ,” b y ex-Senator E. W . Carmack; “ Over­
drafts, Excessive Loans and Past-Due P aper,” b y W . G.
Dillon, Cashier of the First National Bank of Tracy City;
“ Relationship Between Railroads and other Business Enter­
prises,” b y W . W . Finley, President of the Southern R y .,
and “ Personality in Banking,” b y Rutledge Smith of Cooke­
ville, Tenn.
— Under the leadership of Bird M. Robinson, o f the
Mobile Jackson & Kansas City R R ., the city of K n ox ­
ville, T en n ., m ay soon have a new trust com pany. A
charter has been applied for under the name o f the
Tennessee Trust & Banking Com pany, the present
plans providing for $500,000 capital and a surplus of
$250,000, the shares selling at $150.
Mr. Robinson
has interested in the proposed form ation of this new
com pany several K noxville bankers, all directors o f the
Mechanics’ National Bank of that city, with which the new
com pany will be closely associated: W . J. Oliver, whose
Governm ent bid for building the Panama Canal is of recent
occurrence; Henry Fonde, General Agent Southern R y . Co.;
James M aynard, President Brookside Cotton Mills; J. C.
Luttrell; S. B. Luttrell, of S. B. Luttrell & Co., wholesale
hardware dealers, and E . G. Oates. Very strong financial
interests in the East will also be connected with the com ­
pany. It is expected that Mr. Robinson will be the Presi­
dent and that S. B. Luttrell, President of the Mechanics’
National, will be Chairman of its board o f directors.
— The K noxville Banking Co. of K noxville, Tenn., which
was established in 1888, will enter upon a new era of its his­
tory July 1, when the institution increases its directorate
and commences the construction of a new m odern ten-story
bank building in the center of the business district. It is
the intention of the directors to convert the institution into a
trust com pany, changing its name to the K noxville Banking
& Trust Com pany. The first and second floors of the new
building, on Gay and Clinch streets, are to be occupied by
the bank and trust departments, the rest being rented out
for offices. In January last the stockholders approved a
proposition to increase the capital from $50,000 to $ 100,000,
and another addition will be made July 1 raising it to $250,000; during the construction of the new building it is the
purpose to increase the am ount to $500,000. The officers
of this enterprising Tennessee com pany are: President,
W . H . Gass; Vice-President, J. W . H ope, and Cashier,
W . W . Willis.
— The Georgia Bankers’ Association, at its annual session
held at M acon, G a., on the 5th and 6th inst., recom m ended
for adoption in that State the Torren’s system of registering
land titles. The association also adopted a resolution urg­
ing the Congressional representatives of the State to endeavor
to secure the repeal of the National Bankruptcy L aw . The
officers of the association for the ensuing year are President
Joseph S. Davis, Cashier of the First National Bank of
A lbany, Ga.; First Vice-President Oscar E. D ooly, Assistant
Cashier of the American National Bank of Macon; Secretary
(re-elected) L. P. Hillyer, Vice-President and Cashier of the
American National Bank of Macon; Treasurer (re-elected)
E. C. Smith, Cashier of the Griffin Banking Com pany of
Griffin, Ga.
— The directors of the American National Bank of Vicks­
burg, Miss., have elected Mrs. B. B. Willis President to
succeed the late Gen. Edward S. Butts.
— The Commonwealth National Bank of Dallas, T ex .,
which com m enced business on May 1, reported deposits of
$899,013 in its first statement under the call of the Com p­
troller of the Currency, made tw enty days after the bank’s
opening, or on May 20. The statement also showed capital
stock paid in of $500,000, undivided profits of $9,861 and
total resources of $1,408,873. The officers of the institution
are: E . M. Turner, P residen t;'!. H. Ivempner, C. J. Sorrells

and John H. Gaston, Vice-Presidents; R . C. Ayres, Cashier;
Manton W . Jones, H. L. Tenison and J. R . Bower, Assistant
Cashiers.
— The Bankers’ Investm ent Com pany is the name of a
projected institution in Dallas, T ex ., which is to have a
capital of $200,000. W . H. Gaston, of the Gaston National
Bank of Dallas, is one of the directors of the new concern,
with Rhodes S. Baker, C. H. Hunger, J. W . Ogburn, Hugh
Halsell, D. E. W aggoner of Dallas; W . R . Brents, President
of the Commercial National Bank of Sherman, Texas; S. B.
N orw ood, of the National Bank of Cleburne; S. J. McFarland,
Vice-President of the First National Bank of Ladonia, and
J. W . Haden of Bonham. It is stated to be the aim of the
projectors to acquire or establish a chain of banks in Texas.
— An application to organize the Exchange National Bank
of W aco, Texas, was approved by the Comptroller of the
Currency on June 7. The capital is to be $200,000. A. P.
Duncan, F. E. M cLarty, W . Herrick, G. Smith, Horace M.
Minix and C. M. H u bby are interested.
— The Citizens’ National Bank of San Francisco was placed
in voluntary liquidation on the 1st inst., having been suc­
ceeded b y the Bank of San Francisco. The latter has a
capital of $200,000 and is affiliated with the Crocker National
Bank. Its directors are William H. Crocker, A . H. Giannini,
Hugo D. Keil, George D. Cooper, Thomas W . H untington,
W . Frank Pierce, E. E. Johnson, James J. Fagan, John E.
Quinn, Henry T. Scott and Albert Sutton.
— A t the annual meeting on the 11th inst. of the Sovereign
Bank of Canada (head office, Toronto) the new administra­
tion announced that a re-valuation of the bank’s assets had
been m ade, necessitating the writing off of some $2,240,000.
Of the total it was recom mended that $700,656 be written off
for bad debts, $150,608 for depreciation in securities and
$48,109 for reduction in bank premises and furniture; that
$541,494 should be set aside in Contingent Fund for accounts
which are in liquidation or in which there is a large element of
doubt, and that a further Contingent Fund of $800,000
should be provided in respect of certain unsatisfactory ad­
vances the outcom e of which is uncertain. To provide for
all these it has been necessary to appropriate the entire re­
serve fund (amounting April 30 1907 to $1,255,950) and to
reduce the capital from $4,000,000 to $3,000,000. It is
expected that a considerable portion of the am ount written
off, especially that due to the depreciation of securities, will
subsequently be recovered. The bank has deposits of over
$14,000,000. J. C. Jem m ett/'w ho resigned as Secretary of
the Canadian Bank of Commerce last m onth, to becom e
Joint General Manager of the Sovereign Bank, has since been
appointed General Manager to succeeed Duncan M. Stewart.
It has been decided to alter the date of the annual meeting
of the bank from June to July, and the dates of dividend
payments will accordingly be changed.
IM PO R TS A N D EXPO RTS OF GOLD A N D SILV ER A T
S A N FRANCISCO.
The Collector of Crstom s at San Francisco has furnished
us this week the details of imparts and exports of gold and
silver through that port for the month of April, and we
give them below in conjunction with the figure s for preceding
months, thus completing the results for the ten months of
the fiscal year 1906-07. The im ports o f gold were of m oder­
ate volum e, reaching $379,594, mainly bullion. Of silver
there came in $315,046, also m ainly-bullion. During the
ten months there was received a total of $14,120,410 gold
and $2,877,825 silver, which compares with $2,285,986 gold
and $2,162,211 silver in 1905-06. The shipments of gold
during April were nil, and the exports of silver were 83,718
coin. For the ten months the exports of gold coin reached
only $16,735, against $5,362,339 in 1905-0o, and $1,648,324
silver was sent out against $8,931,473 in 1905-06. The
exhibit for April and for the ten months is as follows:
IM P O R T S O F

GOLD

E X P O R T S O F GOLD A N D S IL V E R FR O M SAN FR AN CISC O .
Gold.
Coin.

1906-07.
J u l y _______ _______
A u g u s t...................
Septem ber................
O cto b e r ....................
N ovem ber................
D ecem b er......... —
January ..................
February ------------M a r c h ____________
A p r i l ........................

$
4,187,090
1,780
5,051,046
1.459,950
932
733,796
25
1,500

Bullion.
$
409.271
408.437
147,945
238,915
270,030
287,457
218,546
198,013
127.583
378,094

Total.
%
409,271
4,595,527
149,725
5,289,961
1.729.980
288.339
952,342
198,038
127,583
379,594

Total 10 m onths. 11,436,119 2,684,291 14,120,410




Coin.
$
*26,303
4.746
31.960
37.080
52.700
33.176
2,555
12,165

Bullion.
S
174,189
356,370
255,321
313,186
209,603
324.735
252,327
282.809
205.719
302,881

$
1,055

Septem ber_________
O cto b e r ___________
N ovem ber_________
D e ce m b e r _________
January __________
February ________

3,460
1,150
1.470
500
500
1,500

2,080
2,420

5,540
3,570
1,470
3,100
500
1,500

200,685 2,677.140 2,877,825

” 2*.600

April ._ ______
T otal 10 m onths.

9,635

7,100

Bullion.

Coin

$

16,735

$
3,228
1,315
56,450
87,068
134,848

419,762
116',000
94.000
67.000
67.000
27,476

249",803
276,442
3,995
3,718

Total.
422,990
1,310
172,450
181,060
201,848
107,219
277,279
276,442
3,995
3,718

791,238 1,648,324

857,086

pXoue tarijl (Comra ctxia1%naIisit iXtws
E n g lis h F in a n c ia l M a r k e t s — P e r C a b le .
T h e d a ily c lo s in g q u o t a t io n s f o r s e c u r it ie s , & c ., a t L o n d o n
a s r e p o r te d b y c a b le h a v e b e e n a s fo llo w s th e p a s t w e e k :
London,
Week ending June 14.
Sat.
M on.
Tues.
Silver, per o z : ____________ d_ 30%
30%
30%
Consols, new, 2% p e r c e n t s .. 83 11-16 83 11-16 83%
83%
84 1-16
For a c c o u n t ..____________ 83%
French rentes (in Paris)._fr_ 95.22 95.20
94.97%
Russian Imperial 4s_..............73%
73%
74%
do
do
New 5s___82%
84%
83%
Amalgamated C o p p e r ______ 88
89
88%
6 A naconda Mining C o______ 11%
11%
11%
Atchison Topeka & Santa Fe 90%
92%
91%
Preferred ............................. 96
96
96
Baltimore & O hio.............. ..
96%
97%
98
Preferred .................... ........ 88
88
88
173%
172%
Canadian Pacific____________ 173
C h e s a p e a k e * O h io ............_ . 36
36%
36%
Chicago Great W estern_____ 11
11%
11%
Chicago Milw. & St. P a u l...1 3 0 %
132
131%
D e n v e r * R io Grande, c o m .. 26%
26%
26%
Preferred ............................. 75
75
75
Erie, com m on___________ . . . 22%
23%
23%
First preferred .................. 58
58%
58
Second p re fe rr e d ________ 36
37
37
Illinois C e n t r a l . . . . ________ 141
141
141
Louisville & Nashville______ 115%
115%
115
Mexican Central____________ 21
21
21
Mssouri Kansas & T e x ., com . 34
34
34
Preferred _______ ________ 66
66
66 .
National R R . of M exico_____ 51%
51%
52
N .Y . Central & H ud. R iver.115
116
116
N .Y . Ont. & W est., c o m .. 35%
37%
37
N orfolk & Western, c o m .. 76%
77
76%
Preferred ______ _________ 82%
82%
82%
Northern Pacific____________ 127%
129%
129%
a Pennsylvania_____________ 62%
62%
62
a Reading C o________________53%
54%
54%
a First preferred.......... ...... 41%
41%
41%
a Second preferred.............. 42
42
42
R ock Island C o_____________ 21%
22
22
Southern Pacific____________ 78%
79%
79
Southern Railw ay, com m on . i9 %
19%
20
61%
62
P r e fe r r e d ....... ................... 61
Union Pacific, com m on_____ 138%
140%
139%
Preferred ________________S9
89
88%
U. S. Steel Corp., c o m m o n .. 34%
35%
35%
Preferred ____________ . .. 1 0 1
101%
100%
W abash ...................... ............ 13
13
13%
Preferred ............................. 24
24
24%
Extended 4 s ................ ........ 63%
63%
63%
a Price per share.

6 £ sterling,

Wed.
30 13-16
83%
84
95.05
74%
82%
86%
11%
91
96
96%
88
172%
36
11
130%
26%
75
23%
58
38
140
115
20%
33%
65%
51
115%
36%
76%
82%
128
61%
53
42
42
21
77%
19%
62
137%
88%
34%
100%
13
24
63%

Thurs. F ri.
30 13-16 30%
83 15-16 83%
84 1-16 84
94.85
94.95
73%
73%
82%
82
86%
85%
11%
11%
90%
90%
95%
95%
96%
96%
88
88
173%
172%
36
36
11%
11%
130
129%
26
26
75
75
23%
£2%
58
58
37%
37%
140
140
115
114%
21
21
34
33%
65%
65
51%
51
115%
115
36%
37
76
75%
82%
82%
128%
128
6 i%
61%
52%
52
42
42
42
41%
20%
20%
c76%
76
19%
19%
61%
61%
137%
135%
88%
88%
34
33%
100%
100%
13%
13%
23%
23%
63
-------

■

c E x-dividend.

ilomincvcial and |X%xs ccll anecut5 gtexug
FO R E IG N T R A D E O F N E W ~ Y OP^R— MO N T H L Y
ST A T E M E N T .— In addition to the other tables given in
this departm ent, m ade,up from weekly returns, we give the
following figures for the full m onths, also issued b y our New
York Custom House. The first statement covers the total
imports and exports of merchandise and the Customs re­
ceipts for the eleven months o f the last tw o seasons:
Merchandise Movement to New York.

Totals.

Customs Receipts
at New York.

786,480,184 675,531,607572,864,767 558,276,613182,584,627182,585,241

The im ports and exports of gold and silver for the eleven
months have been as follows:
Gold Movement at New York.
Imports.
1906-07.

Total
$
174 189
356 370
2S1 624
317.932
241,563
361,815
305,027
315,985
208,274
315,046

Total.

%
1,055

•Month.

Stiver.

Bullion.

1906-07.
J u ly ______________

A N D S IL V E R A T S A N F R A N C IS C O .
Gold.

Silver.

Months.

Months.
Coin.

1407

THE CHRONICLE.

J u n e 15 1907.]

A u g u s t ________
S e p t e m b e r .........
O cto b e r ------------N ovem ber--------Decem ber -------January .............
February ...........
M a r c h ..... ............
A p r i l ....... ............

1905-06.

Exports.
1906-07.

S
S
$
38,982
4,147.352
469.424
24,929
413,224
1,330.277
70,248
25,822,574 1.881,931
203,343
17.320,171 7,455.721
39,631
625,028
261,740
865,111
1,380,413
377,127
388,410
290,015 1,367,113
335,588
266,134
1,230,143
7,156
1,514,662 1,699,643
72,395
2,321,848 11,806,868
269,610 29,455,503 2,902,213

T otals................ 56.350,488 54,377,330 5.926,709

1905-06.
S
1,041,294
127,900
285,100
95,320
173,000
282,370
1,043,875
2,589,500
134,046
1,158,601
732,500

Silver— New York.
Imports.

Exports

1906-07.

1906-07.

S
270,689
380,662
334,834
323,085
525,576
734.,824
431,575
251,933
318,195
201,234
245,482

$
3,822,728
3,768.442
3.326,881
2.117,519
2,607,461
3,251,168
2,575,282
3,556,548
4,592,814
3,779,379
405,836

7.663,506 4,018,089 33,804,058

THE CHRONICLE.

1408

National Banks.— The follow ing inform ation regarding
national banks is from the Treasury Departm ent:
A P P L IC A T IO N S T O C O N V E R T IN T O N A T IO N A L B A N K S
APPROVED.
J u n e 4 to J u n e 6.
T h e U tic a B a n k , U tic a , N e b r a s k a , in to “ T h e F irst N a tio n a l B a n k o f
U t i c a .”
C a p ita l $ 3 0 ,0 0 0 .
T h e B a n k o f R a n d le t t , O k lahom a., in to “ T h e F irst N a tio n a l B a n k o f
R a n d l e t t .”
C a p ita l 5 2 5 ,0 0 0 .
T h is a p p lic a t io n in lieu o f o n e fr o m J . M . B e lla m y a n d a sso cia te s a p ­
p r o v e d N o v e m b e r 6 1906 fo r a u t h o r it y t o o rg a n iz e a n a tio n a l b a n k a t R a n d e t t u n d e r th e sa m e title .
N A T IO N A L B A N K S O R G A N IZ E D .
C ertifica tes Issu ed fro m J u n e 3 1907 to J u n e 8 1907 In c lu siv e .
8 .7 2 4 — T h e C itize n s’ N a tio n a l B a n k o f S lip p e r y R o c k , P e n n s y lv a n ia .
C a p ita l $ 3 5 ,0 0 0 .
W . M . H u m p h r e y , P re s id e n t; B e n j. P e a rs o n
S r ., V ic e -P r e s id e n t.
8 .7 2 5 — T h e O k e y -V e r n o u N a tio n a l B a n k o f C o rn in g , I o w a .
C a p ital
$ 5 0 ,0 0 0 .
A . F . O k e y , P re s id e n t; C. H . V e r n o n , V ic e -P r e s id e n t;
C. E i O k e y , C ashier; E . M . V e r n o n a n d F . C . O k e y , A ssista n t
Cashiers.
8 .7 2 6 — T h e F irst N a tio n a l B a n k o f M a h n o m e n , M in n e so ta . C a p ita l,
$ 2 5 ,0 0 0 .
H e n r y B ir k e tt, P re s id e n t; H . S. F ra z e r, C ashier.
C on v e r sio n o f T h e M a h n o m e n S ta te B a n k
8 .7 2 7 — T h e F irst N a tio n a l B a n k o f CuSter C ity , O k la h o m a .
( P o s t -o ffic e
C u ster, O k la h o m a .)
C a p ita l,
$ 2 5 ,0 0 0 .
O . E . M c C a r tn e y ,
P r e sid e n t; J. H . P y e a t t , V ic e -P r e s id e n t; L e o n L . H o y t , C ashier.
8 .7 2 8 — T h e D e S o t o N ational B a n k of A r c a d ia , F lo r id a .
C a p ita l, $ 5 0 ,0 0 0 .
W illia m G . W e ile s , P r e s id e n t; J o h n W . W h id d e n , V ic e -P r e s id e n t
B e n ja m in F . W e lle s , C ashier; L e o n A . S tr o u d , A s s is ta n t C ashier.
8 .7 2 9 — T h e F irst N a tio n a l B a n k o f G re y E a g le , M in n e s o ta .
C a p ita l,
$ 2 5 ,0 0 0 .
R u d o lp h
F . W ilk e , P re s id e n t; M a rtin H a r s ta d ,
T h o m a s D . M iller, a n d J o h n O . C a rter, V ic e -P r e s id e n ts ; W ill
W ilk e , Cashier.
8 .7 3 0 — T h e F a rm ers N a tio n a l B a n k o f C u sh in g , O k la h o m a .
C a p ita l,
$ 2 5 ,0 0 0 .
P a tr ic k H . M a y g in n e s , P re s id e n t; F . W . R o t t e r m a n ,
V ic e -P r e s id e n t; M llb y E . W h ip p le , C ashier.
»
8 .7 3 1 — T h e F irst N a tio n a l B a n k o f B r id g e p o r t, T e x a s .
C a p ita l, $ 2 5 ,0 0 0 .
a
D . M . W ills o n , P re s id e n t; J . M . S lo v e r , V ic e -P r e s id e n t; H . G .
L e o n a r d , C ashier; F ra n k T u rn e r, A ssista n t C ashier.
8 .7 3 2 — T h e F irst N a tio n a l B a n k o f M a c k in a w . 111. C a p ita l, $25 ,0 0 0 .
J a m es R . W h is le r, P re s id e n t; S a m u el S . S m ith , V ic e -P r e s id e n t;
T h o m a s V ie m o n t , Cashier.
8 .7 3 3 — T h e F irst N a tio n a l B a n k o f A lt a m o n t , Illin o is.
C a p ita l, § 2 5 ,0 0 0 .
W . H . S h u b e rt, P re sid e n t; H . S c h w e r d tfe g e r , V ic e -P r e s id e n t;
L . B . O sb o rn e , C ashier; J. L . B r u m m e r s te d t, A ssista n t C ashier.
8 .7 3 4 — The N e w H ib e rn ia N a tio n a l B a n k o f N e w Orleans, L o u isia n a .
C a p ita l, $ 4 0 0 ,0 0 0 . J o h n J . G a n n o n , P re s id e n t; G . R . W e s tf e ld t a n d H u g h M c C lo s k e y , V ic e -P r e s id e n ts ; Chas. P a lfr e y ,
C ashier; W . C. D w y e r , A ssista n t Cashier.
8 .7 3 5 — T h e F irst N a tio n a l B ank o f B u e n a V is t a , C o lo r a d o .
C a p ita l,
C on v ersion
$ 2 5 ,0 0 0 .
A . C. W a lla c e , P r e s i d e n t ;--------, C ashier.
o f th e B a n k o f B u en a V ista .

DOM ESTIC E X P O R T S OF COTTON M A N U F A C T U R E .
— W e give below a statement showing the exports of domestic
cotton manufactures for April and for the ten m onths ended
April 30 1907 and, for purposes of com parison, like figures
for the corresponding periods of the previous year are also
presented:

[V o l .

U nited K ingd om _____________ yards
G erm any _________________________
Other E urope______________________
British N orth A m erica_____________
Central American States and British
H o n d u r a s _______________________
M exico ................ ................... ..............
C u b a ______________________________
O ther W est Indies and Berm uda___
A r g e n tin a ______________ ___ _____ _
Brazil______________________________
Chile_______________________________
Colom bia _________________________
V en ezu ela___________ ______________
Other South Am erica................ ..........
Chinese E m p ir e __________:_________
British East Indies_________________
H ongkong ______ ________ _________
Jap an ______________________________
British Australasia......... .....................
Philippine Islands.................... ..........
O ther Asia and Oceania.................. .
British A frica______________________
All other A frica________ __________
O ther countries......... . ..........................

Month ending'April 30 10 mos. ending A p ril 30
1907

1906.

1906-07.

208,450!
7,093
169,111
655,791

319,250
5,000
50,787
731,648

2,471,633!
76,5181
1,159,583
7,251,4571

2,533,531 2,549,996
149,166
213,827
1,233,836
943,934
1,438,401 2,195,852
353.985
63,275
554,936
827,949
818,483
970.986
1,378,008 1,670,196
725,616
283,827
462,630
965,467
6,346,106 38,398,916
128,170
68,404
83,997
37,766
9,957
896,463
537,369
1,275,011
426,746
2,660,715 4,640,384
796,574
290,153
74,009
98,399

I 1905-06.
2,322,870
529,940
1,604,082
7,961,612

25,046 283
,366,808
,377,592
2,382 ,433
14,743 807
,495,235
,713,232
29,871 986
,137,264
1,585 212
5,191 196!
7 49S.551
11,431 ,590! 12 655,147
13,699 ,2271 10.548,820
5,873 ,223j
5 399,896
7,608 ,408
,857,834
79,248 ,7001444 ,319,669
S,177,545
9,438 590
300,801
603 ,571
700 ,238
,011,673
7,814 ,635!
6 652,986
19,285 998i
2,354,284
40,754 161; 25 076,539
6,380,903
8,748 766!
1,010 .1411
535,137
800!

T otal yards of a bove____________ 22,223,956; 57,026,514 295,998,456 623,278,420
T otal values of above.................... ,$1,505,247 $3,657,028 $19,037,327 $37,358,312
Value per yard..................................,
$.0676
$.0641,
$.0643
S-0600
Value of other Manufactures of]
Cotton Exported to—
United K in gd om __________________
Belgium ____________ _______________ !
G erm any _________________________ j
O ther E u rope_____________ ________
British North Am erica_______ _____ !
Central American States and British
H o n d u r a s ____________________
M exico _________________________
C u b a ................................. ................
O ther W est Indies and Bermuda.
South Am erica__________________
Chinese E m p ir e ________________
Japan..................................................
British Australasia..........................
British A frica____________ _____ _
Other countries__________________
Total
W aste, cotton m ill____________ lbs.
Y a m ____ _____ _________ __________
AH other............................................ ..
Total manufactures o f .

Receipts at—

Flour.

Oats.

Corn.

Wheat.

Barley.

R ye.

bbls.lOftlbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bvshA&lbs. bu 56 lbs.
17,000
5,2.57,400
183,800
1,381,458
186,124
185,399
C h ica g o ____
172,800
16,200
68,000
138,000
92,000
M ilwaukee. _
67,025
1,040
47,228
31,392
D uluth.
80,800
476,319
164,870
21,300 339,000
1,905,750
215,750
Minneapolis.
61,000
1,200
283,000
21,000
T o le d o _____
______
45,300
2,600
109,016
D etroit_____
68,549
______
115,272
Cleveland___
1,232
5,262
102,288
302,400
5,200
2,000
1,065,430
51,710
100,592
St. L o u is ..
213,000
3,000
21,000
13,050
9,000
677,400
P e o r ia _____
118,800
339,000
480,000
Kansas C ity.
401,816
373,873
286,686

T ot.w k .’07
Same wk. ’06
Same wk. ’ 05

3,201,272
1,881,359
1,611,289

403,016
456,265
646,579

2,622,128
3,632,998
3,581,038

8,258,284
5,164,259
3,444,153

379,440
25,468
38,827

Since A ug. 1
447,451
1 9 0 6 -0 7 .-. 18,263,370 217,823,902 185,488,592 180,363,734 64,033,617
1 9 0 5 -0 6 ... 17,793,497 208,088,551 165,755,730 200,551,144 71,901,851 7,330,036
1 9 0 4 -0 5 .-- 14,895,885 191,363,323 164,171,423 145,369,357 62,237,632 6,388,683

Total receipts of flour and grain at the seaboard ports for
the week ended June 8 1907 follow :
Receipts at—
New Y ork................
B o s t o n ___________
P h ilad elp h ia _____
Baltim ore________
Richm ond ..............
Newport News____
New O rieans.a___
Galveston................
M ontreal..................
M obile......... .............
Total w eek_____
W eek 1 9 0 6 .-.........

F lour,
obis.
150,215
41,919
81,522
58,164
3,600
3,278
13,259
............
39,349
4,002
395,308
316,456

Oats,
bush.
621,000
93,265
85,828
43,792
109,782

" 5 ,0 0 0
87,000
640,442

Corn,
bush.
195,650
109,367
32,469
137,618
60,804
42,857
115,000
11,000
148,734

370~554

1,891,132
1,406,427

853,499
654,328

1,416,921
1,268,674

Wheat,
bush.
591,200
243,010
231,508
30,588
62,384

Barley,
R ye,
bush.
bush.
16,800
32,325
______
______
1,000
.................
...........
2,477

92,700

" " "

III” !

181600

_ V,3o5

36,400
30,140

36,102
12,082

a Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.

Total receipts at ports from Jan
as follow s for four years:
Receipts of—
F l o u r .................. .............. bbls

1907.
8,711,313

1 to

June 8 com pare
1905.
4,512,159

1904.
7,857,846

9,588,869
56,238,376
20,286,636
3,653,765
192,342

19,772,010
28,299,396
18,498,623
1,710,463
505,258

89,959,988

68,785,750

1906.
7,268,450

W heat............................... bush. 37,803,792
C o m . . . ......... .............................. 53,325,934
O ats......... ..................................... 24,663,389
Barley ______________________ 2,462,211
R v e ..........................................
916,990
143,917,362

The exports from the several seaboard ports for the week
ending June 8 1907 are shown in the annexed statem ent:
Wheat,
Export? from—
bush.
New Y o r k .............. 733,794
B o s t o n ................ .. 246,215
P h iladelph ia____ 110,240
Baltim ore..............
New O rlean s____
7,401
Newport News___
______
M o n tre a l_______ 1,176,681
Galveston_______
32,000
M o b ile .:..............................'. .

Corn,
bush.
183,084
76,643
21,429
475,998
94,087
42,857
205,761
40,428
19,500

Flour,
bbls.
71,034
21,264
97,962
29,905
7,649
3,278
73,103
6,720
4,002

Total w eek____2,306,331 1,159,787 314,917
Same time 190 6.-1,766,234
556,602 221,968

Oats,
Oats,
Rye,
Rye, Barle-./,
Barlent,
bush.
bush.
bush.
bush.
119,299
119,299 42,628
42,628 ...........
.........
31,757
..........................
43,798
...........................
190
..........................
1,434
................. ........

Peas,
bush.
6,150

178,211

41,257

26,121

42,628 41,257
51,911 153,317

32,121
43,692

374,689
613,187

..........

The destination of these exports for the week and since
July 1 1906 is as below:
---------- Flour------ 1— ------------Wheat---------—
------------Wheat-------- — ------------- C om Since
Since
Since
Week
Ju ly 1
W eek
J uly 1
W eek
July 1
June 8.
1906.
June 8.
1906.
Exports for week and June S.
1906.
bush.
bush.
bush.
hush.
since July I to—
bbls.
bbls.
473,815 31,132,403
United K in g d o m ..157,426 5,798,105 1,486,818 45,793,561
799,737 41,359,096
595,598 37,009,288
C on tinent................ 76,346 2,480,416
19,776
430,750
43,384
879,975
S o .& C e n t. A m e r .. 12,160
779,914
..........
18,265
46,874 2,216,069
W est I n d ie s ______ 34,086 1,414,062
8,000
116
82,284
B rit. N o. A m . Cols. 3,425
87,082
397,298
............
166,683
Other cou ntries-. . 31,474
210,795
T o t a l....... .............314,917 10,770,374 2,306,331 88,006,970 1,159,787 71,486,702
Total 1905-06_____ 221,968 10,315,376 1,766,234 54,756,785
556,602 108946,067

89,276
776
5,667
8,502
130,142

61,278
5,485
16,720
9,501
102,892

829,008
13,364!
53,591i
61,769
799,027

662,658
32,879
129,538
45,394
834,501

64,823
34,349
40,516
■16,895
6,443
10,141
992
28,323
9,640
20,557

30,912
27,984
21,614
11,172
13,001
4,166
4,722
21,942
33,914
8,758

339,218247,921;
301,041,
150,872
87,399
168,237,
45,026:
277,235;
87,381
430,655;

226,085
244,409
211,137
123,887
76,312
107,389
21,953
245,408
241,359
162,977

467,042!
250,462’
22,265,
278,421:
2,523,437

374,061

3,891,744

3,365,886

206,532
33,968
344,657

1,884,736
283,572
3,069,070

1.510.38S
300,330
2,637,891

4,616,246

28,166,449

45,172,807

Auction Sales.— Am ong other securities the follow ing, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. Muller & Son:
S tock s.
I
S tock s.
100 S u tr o T u n n e l C o __________$16 l o t ! 10 N . Y . P r o d u c e E x c h . S afe
1 N . Y . S o c ie t y L ib r a r y ____ $23
j
D e p . & S to r a g e C o _______ 250
3 U tic a C h en . & S u sq . V a li.
•
B on d s.
R y . C o ____________________ 145 % $ 5 7 ,0 0 0 A t la n . & B i r m . R y . C o .
3 D el. & B o u n d B k . R y . C o . 1 9 5 Vi
1st 5s, 1 9 3 4 ________ __________ 9 7 ^
3 M orris & E ssex R R . C o ___ 1 7 5 Vi $ 6 2 2 .3 5 A t la n . & B Irm . R y . C o.
100 C o n e c t lc u t R y . & L tg . C o .
1st 5 % scrip c e r tific a t e ---------85
Wfil c o m ________________________ 69 M $ 3 4 5 ,0 0 0 B ru n sw ick & B Irm .
4 0 CarnegleJfTrust C o _________ 250
R R . C o . p a r ticip a tin g c e r t s . .
H




.

Breadstuffs Figures Brought from Page 1440.— The state­
ments below are prepared b y us from figures collected b y
the New Y ork Produce 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:

Total g r a i n .. . .......................119,172,316
Quantites of Manufactures of
Cotton (colored and uncolored)
Exported to—

l x x x iy

The visible supply of grain, comprising the stocks in
granary at the principal points of accum ulation at lake and
seaboard ports June 8 1907, was as fo llo w s :
Wheat,
bush.
New Y o r k ...................... .. 1,744,000
afloat..............
............
B o s t o n ________________
233,000
P h iladelph ia..............
711,000
B a ltim o re .......................
240,000
New O rleans..................
38,000
Galveston_____________
667,000
M ontreal...........................
629,000
T o r o n t o ______________
4,000
B u ffa lo ________________ 2,350,000
a floa t.............
..........T o l e d o ________________
547,000
afloat_______
______
D e tro it.............................
369,000
Chicago________________ 9,436,000
M ilw aukee......... .............
266,000
Fort W illia m .......... ..
3,944,000
Port A rthur.................... 4,020,000
D u lu th _____ __________ 5,920,000
M in neapolis................... 12,087,000
St Louis........................... 1,452,000
Kansas C ity___________ 2,682,000
Peoria......... .....................
213,000
Indianapolis................ ..
121,000
On Mississippi R iv e r ------------Ors Lakes ...................... ..
822,000
On Canal and R iver___
622,000
Total
Total
Total
Total
Total
Total

June
June
June
June
June
June

8
1
9
10
11
13

1907.-49,117,000
1907.-49,729,000
1906.-29,783,000
1905.-18,166,000
1904.-18,475,000
1903.-20,004,000

Corn,
busn.
392,000

Oats,
bush.
1,772,000

254*,606
143,000
742,000
137,000
13,000
85,000

193.000
289,000
152,000

R ye,
bush.
10.000

B a rle y
bush.
24,000

2,000

84,000

7 0 ,6 0 0

402,000

229,660
4.000
2,292,000

428",000

163,000

230,000
497,000
87,000

2,215,000
155,000

’ L 000
35,000
137,000
553,000
296,000
127,000

596,006
1,046,000
144,000
50,000
428,000
136,000

7.000
28,000
1.000

992',000
9,000

1 3 5 ,6 6 6

24,000

71,000
139.000

>,560,000
5,595,000
!,816,000
1,378,000
1,658,000
1,880,000

10,153,000
10,605,000
8,198,000
7,338,000
5,378,000
4,067,000

503.000
572.000
1,525.000
875.000
888.000
670,000

965.000
928.000
938.000
1.007.000
1.618.000
582.000

22^666

3 l’,000

9,000
326,000

111,000
52,000
243.000
193.000
17,000

lb‘,666

62,000

STOCK OF M O N E Y IN T H E C O U N T R Y .— The follow ­
ing table shows the general stock o f m oney in the country,
as well as the holdings b y the Treasury, and the am ount in
circulation, on the dates given. The statement for June 1 1906
will be found in our issue of June 9 1906, page 1304.
- Stock of M oney June 1 1907In United
Held in
Treasury .d.
Slates.
$
S
Gold coin and b u llio n ..1,619,136,891 242,206,764
___________
Gold certificates.a_____
50,614,460
Standard silver dollars. 562,173,530
4,355,588
Silver certificates.a____
___________
5,274,748
Subsidiary s ilv e r ______ 130,779,018
9,052,491
Treasury notes of 1890.
6,078,000
11,220
United States n otes____ 346,681,016
3,580,823
National bank notes___ 601,940,550
11,910,342

-M o n ey in Circulation—
June 1
June 1
1906.
1907.
$
$
695,680,258
683,426,878
513,803,789
630,635,409
82,083,942
78,602,135
470,459,252
469,663,586
109,894,319
121,726,527
6,066,780
7,477,218
343,100,193
335,552,893
545,260,302
590,030,208

T o t a l............................. 3,266,789,005 327,006,436 2,939,782,569 2,743,681,120
Population of the United States June 1 1907 estimated at 85,956,000; circula­
tion per capita, $34 20.
a For redemption of outstanding certificates an exact equivalent in amount o f the
appropriate kinds o f m oney is held in the Treasury, and is not included in the
account of m oney held as assets of the G overnm ent.
d This statement of m oney held in the Treasury as assets of the Governm ent does
not include deposits o f public m oney In National Bank depositaries, to the credit of
the Treasurer o f the U nited States, amounting to §172,831,240 68.

DIVIDENDS.
The following shows all the dividends announced for the
future by all large or important corporations.
Dividends announced this week are printed in italics.
Name of Company.
Railroads (Steam )
Ashland Coal & Iron R y . (qu ar.)_______ !
Atchison Topeka & Santa Fe, p re fe rre d .;
Atlantic Coast Line R R ., com m on______
Bald Eagle Valley______ _____ ______ ___
Beech Creek, guaranteed (quar.)__________
Boston & Albany (quar.)______________
Boston & Low ell_______ ________________
Boston & Maine, com m on (quar.)______
Boston & Providence, guaranteed (quar.).
Boston Revere Beach & L y n n __________
Canada Southern______ _________________
Chicago & A lton, preferred_____________
Prior lien and participating stock.........
Chicago & Eastern Illinois, pref. (quar.)
Chicago Indianapolis & Louisville, com .
Preferred _______ _____________ ______
Chicago & N orth Western, com m on ____
Preferred (qu ar.)________ ___________
Chic. R ock Island & Pacific (qu ar.)_____
Delaware & Hudson Co. (quar.)..........
D enver & R io Grande, preferred_______
D etroit & Mackinac, pref______________
East M a h a n oy _________________________
Greene R R ....... ......................... ...................
H ocking Valley, com m on_______________
Preferred_____________________________
Interborough-M etropolitan, pref. (quar.)
Interborough R apid Transit (qu ar.)____
Kansas City Southern, preferred_______
Cincinnati New Orleans & Texas Pac.,com.
Lake E rie & Western, preferred__________
Lake Shore & Michigan Southern_______
Little Schuylkill N av., R R . & Coal_____
Manhattan, guaranteed (quar.) (N o. 9 3 ).
Michigan C entral_________________ ______
M inneapolis & St.Louis, prejerred______
Missouri Pacific (N o. 57)________________
Morris & Essex_________________________
N . Y . Central & Hudson River (quar.)___
New York & Harlem, com. and prel____
New Y ork Lackawanna & W est, (quar.)
N . Y . New Haven & Hartford (quar.)___
New Y ork Ontario & Western, com mon
N orfolk & Western, com m on_________ _
Northern Central (N o. 8 5 )---------------------Old Colony, guaranteed (quar.)..................
Pennsylvania C om pany.............. .................
Philadelphia Baltimore & Washington___
Pitts. Cln. Chic. & St. Louis, common___
P referred _____________ _______________
Pitts. F t. W ayne & Chic., reg. guar, (q u )
Special guaranteed (quar.).......................
St. Louis & San Francisco—
Chic. & E. 111. com . stock trust c e r ts ..
Preferred stock trust certs, (qu ar.).
K .C .Ft.Scott& M.pref.trust certs (qu.)
Southern Pacific, com . (quar.) (N o . 3)
Preferred (N o. 6 ) _____________________
Southwestern of Georgia_________________
Texas Central, common (annual)________
P referred ................................. ...................
Union Pacific, com m on (qu ar.)_________

Cent.
1
2x
3
5
1
2X
4
IK
2*2
3
IK
2
2
IX
IX
2
3X
2
1
2K
2X
214
2X
3
2
2
IK
2K
4
2X
1
6
2X
IK
3
2X
2X
3X

Payable.




Days Inclusive.

5
IK
2
2
2X
4
IK
3
2
2
2X
IK
IK

June 20 Holders of rec. June 15
Aug.
to
Aug. 1
1 July 6
July 10 June 22
to
July 10
A u g.
1 Holders of rec. June 11
July
1 June 23
to
June 29 Holders of rec. June 1
July
2 May 26
to
June 1
July
1 Holders of rec. June 15
July
1 Holders of rec. June 15
July
1 Holders of rec. June 15
Aug.
1 Holders of rec. June 28
July
1 June 21
to
June 30
July
1 June 21
to
June 30
July
1 June 16
to
June 19
June 28 June 13
to
June 28
June 28 June 13
to
June 28
July
1 Holders of rec. June 3
July
1 Holders of rec. June 3
July
1 June 15
to
June 30
June 15 Holders of rec. May 25
July 15 June 27
to
July 15
July
1 June 16
to
July 1
June 15 Holders of rec. May 1
June 19 June 14
to
June 16
July 15 June 23
to
July 15
July 15 June 23
to
July 15
July
1 June 11
to
June 30
July
1 June 18
to
June 30
July
1 June 11
to
July 1
June 24, June 16
to
June 23
July 15 Holders of rec. June 28
July 29 Holders of rec. June 28
July 16
July
llJu ne 15
to
June 25
July 29 Holders of rec. June 28
July 15 June 30
to
July 15
July 20! June 21
to
July 21
July
1 June 11
to
June 30
July 15 Holders of rec. June 28
July
l,H olders#of rec. June 15
July
1 June 16
June 80
to
June 30; Holders of rec. June 15
July 29 July 17
to
July 29
June 19 Holders of rec. May 31
July 15 Holders of rec. June 29
July
1 Holders of rec. June 10
June 29,Holders of rec. June 20
July
1 Holders of rec. June 12
Aug. 15 Holders of rec. Aug. 3
July 15 Holders of rec. July 5
2
July
June 9
to
July 2
July
l J u n e 16
to
July 1

5
IX
1
IK
3X
2
5
2X
2X

July
l 1June 16
to
July
1 June 16
to
July
1 June 16
to
July
1
J u ly . 12, Holders of rec.
July
5 June 18
to
July 15! July 6
to
July 15 July 6
to
July
LM ay 30
to

ix

Street Railways.
American Railways (quar.)------------------lune
IX
Bangor Railway <fc Electric (q u a r .)______
I K July
Boston Suburban Electric Cos., pf. (qu.)
75c. p u ly
Chicago City Railway (qu ar.)----------------I X June
Cincinnati Street Railway (quar.)_______
I X July
Consolidated Traction of New Jersey____
2
July
Continental Passenger Railway, P h ila ..
S3
June
July
Indianapolis Street Railway................ ........
3
Louisville Traction, common (quar.)_____
1
July
Lynchburg (V a.) Traction & L ight.........
I X June
July
M anila Electric Railroad & Light Corp___
1
Maryland Electric Railways_____________
July
2
Metropolitan St. R y ., N. Y . (quar ) ____
I K July
Metropolitan West Side El. Chic. pf. (q.)
K June
Northern Ohio Traction & Light (quar.)
X June
Portland (Ore.) R y ., L t. & P ., pf. (qu.)
I K July
Puget Sound Electric Ity .,S e a ttle , pref.
July
3
Reading Traction.................................. ........
75c. July
Roanoke Railway & Electric___________
June
3
South Side Elevated. Chicago ( q u a r .)...
1
June
Twin City R. T., Minneap., pref. (quar.)
I K July
Union Passenger Railway, Philadelphia. _ $4.75 July
Union Traction, Philadelphia....................
2 X July
United T rac. & E lec., Providence (quar.)
I K July
West Philadelphia Passenger Railway____
$5
July
Banks.
Coal & Iron National (quar.).
Consolidated N ational---------First National (quar.)............
German Exchange_____ _____

1409

THE CHRONICLE.

J u n e 15 1907.]

IX
3
8
10

July
July
July
July

July
July
July

1
3
1

June
July
July
July
June

29
5
15
15
16

15* Holders of rec. May 15
1, Holders of rec. June24a
15 Holders of rec. June 15
to
29 June 11
June 17
1 Holders of rec. June 15
15iJuly 1
to
July 15
3 0 1Holders of rec. May 31
1
11 June 11
July 1
to
15 Holders of rec. June 1
LJune 25
to
July 1
L June 22
to
1 June 21
July "i
to
29 June 23
to
June 28
15 Holders of rec. June l
1 Holders of rec. June 15
1[Holders of rec. June 18
1 June 16
to
July 4
15 Holers of rec. June
1
3 0 (June 20
to
June 30
1 Holders o f rec. June 17
1 Holders of rec. June 15
llJune 9
to
June 30
July 1
to
1 June 12
1 Holders of rec. June 15
1
I
1
1

Holders of rec.
June 21
to
June 30
to
to
June 21

June 12
July 1
July 1
June 30

Name oj Company.

Per \ When
Cent. \ Payable.

Books Closed.
D ays Inclusive.

Banks (Continued.)
H am ilton________________________
Jefferson __________ _____________
Mechanics & Traders____________
Mercantile N ational_____________
E x t r a ____________ ____________
M utual__________________________
NlneteenthiWard (quar.) (N o. 2 4 ).
P la z a ____________________________

5
5
5
5
1
4
2X
10

|july
|July
July
July
July
July
[June
July

I Holders of rec
; Holders of rec
: June 21
to
June 21
to
June 21
to
i June 2
to
21 June 21
to
1 June 23
to

Trust Companies.
F ifth Avenue (qu ar.)___________
Franklin, Brooklyn (quar.)_____
Guaranty (quar.)_____ ________ _
K nickerbocker................ ............
Lincoln (quar.)_________________
M a n h a ttan ____________________
E x tra________________________
Metropolitan (quar.)____________
Mutual A llia n ce ________________
Van Norden (quar.) (N o. 9 ) __
W illiamsburg, Brooklyn (quar.).

3
m
5
25
3
3
3
6
4
2
2

July
June
June
July
June
July
July
|July
iJuly
'June
iJuly

1 Holders
2 91Holders
29 Holders
1 June 21
21 Holders
1 June 6
i June 6
1 June 22
1 June 21
2t June 21
1 Holders

Miscellaneous.
A eollan-W eber Piano & Pianola, pf. (qu.)
I K June
Alabama Consol. Coal & Iron, pref. (qu.)
I K June
American Bank N ote (q u a r.).......... ..........
50c. June
Am erican Beet Sugar, pf. (qu.) (N o. 32)
I X July
Am erican Can, preferred (qu ar.)_______
I K July
Am er. Car & F d y ., com . (quar.) (N o. 19)
July
1
Preferred (quar.) (N o. 3 3 )_______
I K July
American Caramel, pref. (qu ar.)____
July
2
American Chicle, com m on (m on th ly)___
June
1
July
3
A m e r ic a n E x p ress_________________
American Graphophone, com m on (quar.)
I K .June
Am er. Iron & Steel M fg ., common (quar.)
1K July
Preferred (quar.)______________________
I K July
IJuly
Am erican Pipe Manufacturing (q u a r ,)..
2
American Radiator, com m on (qu ar.)___
June
1
■July
Amer. Smelt. & R e f., com . (qu.) (N o .15)
2
Preferred (quar.) (No. 3 2 )___________
I K July
American Snuff, com m on (qu ar.)......... ..
2 X July
Preferred (qu ar.)_____________________
I X iJuly
American Sugar Refining, com m on (quar)
I K |July
Preferred (quar.)_______ _____________
I K July
July
American Telephone & Telegraph (quar.)
2
American T obacco, preferred (qu ar.)___
I X July
July
American Type Founders, common (quar.)
1
Preferred (quar.)______________________
I K July
June
Barney & Smith Car, com mon (q u a r .)..
l
Borden’s Condensed Milk, pref. (q u a r.).
I X June
Butte Coalition Mining................ ...............
50c. lJune
Butte Electric & Power, common (q u a r .)..
I K June
Calumet <fc Hecla Mining (qu ar.)_______
June
$20
Celluloid Com pany (qu ar.)_____________
I X July
Central Leather, preferred (qu ar.)______
I K July
Chic. June. R ys.& U. Stk. Y ds.,coin (qu.)
July
2
Preferred (qu ar.)____________________
I X July
Chicago Telephone (qu ar.)_____________
2 X June
June
Cleve. & Sandusky Brew ., com . (qu ar.).
1
Preferred ( q u a r .).. _____ _____________
I X June
Columbus Gas & Fuel, pref. (qu ar.)____
I K July
Columbus (Ga.) Electric Co., preferred___
July
3
Colu'bus & H ock.C oal & Iron, new pref. _ I X iJuly
June
Consolidated Gas of New York (q u a r .)..'
1
Cumberland Tel. & Tel. (quar.) (N o. 95).
I K July
Diamond Match (qu ar.)________ _______
2 X June
Denver Gas & Electric (m o n th ly )...........
X IJuly
Dominion Coal Ltd., common (quar.)____
July
1
duPont International Powder, pref. (qu .).
I K July
duP ont(f£.I.)deN em oursP ow .,com . (qu.)
I K June
Eastman K odak, com m on (quar.)_____
2 X July
Preferred (qu ar.)_____ _______________
I X July
2
Electric B oat, preferred (quar.)__________
July
Equitable Ilium. Gas L ight, Phila., pref.
June
3
June
Federal Mining & Smelting, com . (quar.)
m
Common, extra______________________
3 X June
Preferred (qu ar.)____________________
I K June
General Chemical, pref. (q u a r.)________
I X July
General Electric (quar.)_________________ _
2
July
Guggenheim Exploration (quar.) (No.18)
2 X July
Ingersoll-Rand. preferred______________
July
3
International Nickel, preferred (quar.)___
I X Aug.
International Paper, pref. (qu ar.)______
I X July
International Silver, preferred (q u a r .)..
I X July
Internal .Smokeless Pow.& Chem. .com. (qu.)
K June
Laclede Gas Light, com m on (qu ar.)____
I K June
P r e fe r re d ................................. .................
2 X June
M ackay Companies, com m on (qu ar.)___
July
1
Preferred (qu ar.)______ ______________
July
1
Maryland Coal, preferred______ _____ _
2 X June
Preferred, extra_____ ________ ________
I X June
Massachusetts Lighting Cos. (qu ar.)____
I K July
Mergenthaler Linotype (quar.)___________
2 k, June
National Biscuit, com m on (quar.)______
I K July
National Enam. & Stamp, pref. (quar.)
1% July
N ational Lead, com m on (quar.) (N o .14)
1K July
Preferred (quar.) (N o . 6 2 ) _________
I K June
National Licorice, preferred (quar.)_____
I X June
National Sugar R efining, pref. (quar.)___
I X July
Nlles-Bement-Pond, common (quar.)____
I X June
Oils Elevator, preferred (quar.)_______ r .
I X July
Philadelphia Electric___________________
2 X June
Quaker O ats, com m on (qu ar.)__________
I X July
C o m m o n ( e x t r a ) ___________________
X July
Railway Equip. Corp. (mthly.) (N o. 109).
I X June
Railway Steel Spring, preferred (qu ar.).
I K June
Republic Iron & Steel, preferred (quar.)
1% July
Preferred (e x t r a )................ ............ ........
2d. July
Royal Baking Powder, preferred (q u a r.)..
I X June
Rubber Goods M fg.. pref. (qu ar.)(N o.33)
I K June
Safety Car Heating & Lighting (q u a r .).. j 2
July
Extra ................................... ..................... > 2
July
Sears, Roebuck & Co., preferred (qu ar.).
I K July
Securities C om p a n y_____________ _____ _
2 X July
Standard Coupler, common................ ........ j 2 X June
Preferred . ................................. .................
4
June
Standard Gas Light, New York, preferred.
3
June
Standard Oil (qu ar.)_____ ______________
June
$9
Streets W estern Stable Car Line, p r e f . . . ! 3 X July
Swift & Com pany (quar.)_______________[
I K July
Texas & P acific Coal (quar.)_____ _______
I X June
Union Bag & Paper, pref. (qu.) (N o. 33)! i
July
Union Ferry (q u a r .).................... ...............\
X July
United Bank N ote Corp., pref. (q u a r .)..
I X July
United Fruit (quar.) (No. 3 2 )___________ '
July
2
United Gas Improvement (quar.)________
July
2
United States Leather, preferred (q u a r.); I X July
V . S. Red. & R efg., pref. (qu ar.)(N o. 16)
I X July
U. S. Steel Corp., com . (quar.) (N o. 1 4 ).
X July
Vlrglnla-Caro. Chem., pf. (qu.) (N o. 47).
July
W altham W atch, c o m m o n .._____ ______
I X July
W aterbury Co. o f W est Virginia (q u a r.). | 1
July
W aterbury Co. o f New Jersey, com . (qu.) ! 2 X July
Preferred (qu ar.)...................................... j *>
July
Western Union Telegraph (quar.) (N o lh a ): I K July
Westlnghouse A ir Brake (quar.)................ 1 ' 214 July
E x t r a ________________________________ i 2 X July
Westlnghouse Machine (quar.) (N o. 4 7 ) ..
July
2X
W hite (J.G .) & Co., Inc.. pref. (q u a r .)..
I X July

JuneT29
June 13
June 30
July l
July 1
July ? 1
June 30
July 1

o f rec June''29
of rec. Junef28
o f rec. Junej29
to
July 1
of rec. June 20
to
July 1
to
J t* r 1
to
July 1
to
June 30
to
June 30
of rec. June 20

29 June 21
to
15 June 6
to
2i Holders of rec.
1 Holders of rec.
1 June 18
to
1 June 7
to
1 June 7
to
1 June 12
to
21) June 15
to
1 Holders o f rec.
15 Holders o f rec.
1 Holders o f rec,
Holders o f rec.
1 Holders o f rec.
29 June 23
to
15 June 29
to
1 June 15
to
1 June 16
to
1 June 16
to
2 June 2
to
2 June 2
to
15 June 17
to
1 June 16
to
15 Holders of rec.
15 Holders of rec.
15 May 15
to
15 June 6
to
26 June 18
to
15 Holders o f rec.
28 Holders of rec.
1 Holders o f rec.
1 Holders o f rec.
1 June 13
to
1 June 13
to
29 June 27
to
15 June 2
to
15 June 2
to
1 Holders of rec.
1 Holders of rec.
1 June 21
to
15 May 28
to
1 June 20
to
15 Holders o f rec.
1 Holders o f rec.
2 June 22
to
1
15 June 6
to
1 June 1
to
1 June 1
to
1 June 21
to
15 Holders o f rec.
15 June l
to
15 June 1
to
15 June 1
to
1 June 22
to
15 Holders of rec.
1 June 16
to
1 June 13
to
1 July 11
to
i June 16
to
1 June 18
to
29
15 June 9
to
15 June 9
to
I June 17
to
1 June 17
to
29 June 16
to
29 June 16
to
15 Holders o f rec.
29 June 16
to
15 June 29
to
1 June 11
to
1 June 15
to
15 May 25
to
29 June 25
to
1 June 21
to
20 June 15
to
15 Holders of rec.
15 May 23
to
15 Holders o f rec.
15 Holders o f rec.
15 Holders o f; rec.
20 June 9
to
1 June 11
to
1 June 11
to
29 Holders of rec.
1 5! Holders of rec.
l! Holders o f rec.
1 [Holders of rec.
1 June 16
to
to
15|June 30
2 9 !June 25
to
29 June 25
to
2 9 'June 23
to
15 Holders o f rec.
LJune 21
to
ijJune 16
to
29 June 21
to
15 June 30
to
1 iJune 21
to
1 June 18
to
15 Holders of rec.
15 Holders o f rec.
1: Holders o f rec.
1 June 21
to
1 June 13
to
15 June 23
to
1 Holders of rec
1 June 21
to
1 June 21
to
1 June 21
to
15 June 21
to
10 July 1
to
10 July 1
to
10 July 1
to
1 Holders of rec.

June 30
June 16
June 28
June 22
July 1
July 1
July 1
July 1
June 20
June 15
June 1
June22<z
June22a
June 15
June 28>
July 15
July 1
July 1
July 1
July 2
July 2
June 29
July 1
July 10
July 10
June 16
June 16
June 10
M ay 31
June 14
June 10
July 1
July 1
June 30
June 15
June 15
June 15
June 20
July 1
June 14
July 1
June 5
June 20
July 1
June 10
June 16
June 30
June 8
June 9
June 9
June 9
July 1
Jun el5a
July 1
July 1
A ug. 1
June 30
July l
June 16
June 16
June 29
June 29
June 30
June 30
July 1
June 30
July 15
July 1
July 1
June 16
June 30
July 1
June 20
June 29
June 2
July 5
July 5
June 10
J une 20
July 1
July 1
June 15
June 8
June 14
June 14
July l
July 15
June 30
June 30
June 30
M ay 20
July l
July 1
June 30
July 15
July 1
July l
June 26
June 29
June 10
June 30
July 1
July 17
June 10
June 30
June 30
June 30
June 30
July 10
July 10
July 10
May 31

o Transfer books not closed, d On account o f accumulated dividends and beingremainder o f such dividends unpaid.
<

THE CHRONICLE.

1410

Statement of New York City Clearing-House Banks.—
The follow ing statement shows the condition of the New
Y ork City Clearing-House banks for the week ending June 8 .
It should be distinctly understood that as to all items
except capital and surplus the figures are the averages of the
daily results, n ot 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 num ber of days.
W e omit two tinkers (00) in all eases.
Banks
00s omitted.

Capital.

Surplus.

Loans.

Specie.

Legals. Deposits, a R esrne

$
$
S
$
%
$
$
15,947,0 26.3
2,467,0 1,729,0
3,039,9
17,792,0
Bank of N . Y __
2,000,0
29,800,0 27.1
5,900,0 2,200,0
Manhattan C o.
2,050,0
25,500,0
2,908,8
18,450,0 26.5
15,589,0
3,863,0 1,030,0
2,000,0
M erch ants'-----1,607,1
22,679,0
3,974,0 2,259,0
23,267,0 26.7
3,000,0
Mechanics’ ____
3,627,3
A m e r ic a ............
1,500,0
22,519,8
3,936,2 2,002,5
23,625,5 25.1
4,080,5
7,927,0 27.9
8,246,0
2,092,0
122,0
1,000,0
P h e n ix _______
454,5
City --------------- 25,000,0 22,276,0 161,892,7 33,909,0 1,800,0 140,939,0 25.3
5,108,0 1,609,2
24,560,0 27.3
3,000,0
5,400,1
C h e m ic a l_____
25,267,3
6,080,1 22.3
Merchants’ E x .
600,0
1,222,8
134,3
524,8
5,963,5
589,0
944,4
6,059,5 25.2
1,000,0
8,582,7
G allatin_______
2,394,5
2,210,4
2,426,7 27.2
Butch. & D rov .
300,0
161,6
586,9
74,5
M ech.&Traders’
19,7S7,0 27.2
16,513,0
3,876,0 1,520,0
2,000,0
910,3
307,0
6,551,9 23.8
G re e n w ic h -----500.0
5,906,1
698,6
1,258,1
20,302,1 22.4
4,765,2
28,034,4
3,471,0 1,084,9
Am er. E x ch —
5,000,0
Com m erce_____ 25.000,0 14,947,8 150,826,4 22,460,9 10,289,0 130,430,4 25.1
15,558,3 25.6
20,321,9
3,000,0
5,099,3
3,078,1
906,8
M erca n tile____
339,0
3,S05,8 22.2
500,0
784,0
3,386,7
507,7
P a c i f i c ___—
5,509,8 25.4
450,0
1,038,9
5,627,6
522,3
878,0
Chatham - . _
2,564,9 33.8
200,0
1,954,8
457,3
410,3
People’s --------469,5
2,259,2 1,181,4
14,537,7 23.6
N orth Am erica.
2,000,0
2,240,0
15,629,9
59,321,4
67,602,6 25.1
3,000,0
9,927,7 7,057,4
H a n o v e r ---------8,521,3
1,045,0
20,344,0
3,102,3 2,183,0
19,609,3 26.7
Citizens’ Central
2,550,0
3,952,5121.2
500,0
3,636,7
396,9
442,5
N a ssa u _______
346,7
7,160,0 27.4
M arket* Fulton
7,451,2
550,0
1,000,0
1,561,4
1,414,6
M etropolitan . .
2,000,0
168,2
11,279,5 26.0
10,914,6
890,7
2,767,5
46,180,0 25.7
4,834,2
39,647,0
7,403,0 4,488,0
C om Exchange.
3,000,0
10,390,2 21.6
750,0
1,947,2
295,5
O rie n ta l---------1,204,8
10,095,5
21,441,0 25.2
1,500,0
7,276,6
24,836,9
4,057,0 1,354,0
Im p. & Traders’
88,284,0 25.8
3,000,0
8,645,2
77,504,0 17,752,0 5,077,0
P a r k __________
1,600,0 23.6
East R iver-----1,3S7,2
250,0
209,5
168,5
128,1
20,096,0
3,193,0 2,048,0
20,221,0 25.7
F o u r t h _______
3,000,0
3,307,5
1,081,0 1,301,0
9,379,0 25.4
500,0
9,964,0
Second _______
1,964,7
89,521,9 18,096,4 1,560,0
75,386,0 26.0
F i r s t __________ 10,000,0 19,749,5
3,066,6
895,6
1,080.1
15,795.7
15,437,0 25.6
Irving N at. E x .
2,000,0
3,187,0
701,0
78,0
3,500,0 22.2
250,0
779,9
B o w e r y _______
859,2
5,071,2
1,193,6
596,8
6,578,2 27.2
200,0
N . Y . C o u n ty ..
3,477,9 24.5
Germ an-Amer .
3,727,0
182,2
750,0
604,0
672,0
5,000,0
4,827,0
52,620,4 13,155,1 1,166,9
57,090,8 25-0
Chase..................
10,394,4
1,970,4
979,4
11,093,8 26.5
100,0
1,894,9
Fifth A venue. .
3,558,4
215.0
885,0
4,409,1 24.9
200,0
831,4
German E x c h ..
5,982,9 24.3
G erm an ia____
200,0
944,6
5,017,3
726,3
/32,3
13,586,3 24.8
500,0
1,536,8
12,839,7
1,056,7 2,315,2
Lincoln _______
7,623,0 27.1
7,328,4
1,000,0
1,342,7
1,767,1
302,5
G a r fie ld ______
3,057,9
166,1
250,0
516,9
2,967,1 23.0
F i f t h __________
460,5
10,301,1 25.3
1,000,0
10,228,2
1,718,0
869,8 1,746,8
M e tro p o lis ____
4,207,0 25.0
3,923,0
592,0
200,0
460,0
W est Side..........
852,7
19,953,0 25.7
1,000,0
17,234,0
3,464,0 1,667,0
Seaboard______
1,413,3
3,972,0 20.4
475.0
336,0
(300,0
4,323.0
1st N at., Bklyn.
J695.8
11,717,9 25.9
13,270,1
1,000,0
2,317,0
2,399,7
635,7
L ib e r t y _______
1,000,0
1,526,6
7,581,3 25.8
6,452,6
435,7
N . Y . Prod. Ex.
626,5
523,2
NewAmsterdam
1,000,0
269.9
5,606,1 25-6
4,384,5
915,7
15,887,0 25.9
209,0
1,000,0
611,4
12,999,0
3,918,0
S t a t e __________
7,495,2 24.7
1,000,0
424,0
6,870,0
1,431,4
418,6
14th Street____

Sur­
plus.

Loans
and
Invest­
ments.

N. Y . City.
■Borovght o/
M a n .ftB r’x .
S
$
$
lo o .o
174.7
977,5
W ash. H ’g’ts
200,0
154,0 1,323,2
Century ____
100,0
103,7 1,347,2
Chelsea Exch
427,8 4,248,8
100,0
Colonial _ .
300,0
442,3 6,299,0
Columbia . . .
Consol. N at. 1,000,0 1,137,2 6,112,0
•200.0
144,4 1,020,3
Fidelity .
200,0
243,3 4,862,6
H am ilton
500,0
642,7 4,390,5
•Jefferson____
250,0
219,5 2,509,9
Mt. M orris..
200,0
286,5 3,569,9
Mutual — .
300,0
460,7 4,564,4
19th W a r d ..
342,9 3,771,0
100.0
P l a z a ---------Riverside . .
100,0
101,1 2,232,9
200.0
211,3 2,570,0
12th W ard.
100.0
174,6 1,716,1
23d W ard. _
750,0
839,6 8,624,8
Union E x ch .
100,0
384,7 3,420,1
Y o r k v ille __
590,9 4,933,0
500,0
Coal & I. Nat
208,2 1,297,7
34th St. N at.
200,0
B att.Pk.N at.
200,0
124,3
875,1
Borough of
Brooklyn.
B o r o u g h ___
200,0
156,3 3,410,5
405,4 2,789,1
P.roadway . .
150,0
B rooklyn . . .
300,0
152,8 1,972,5
Mfrs.’ N at.
252,0
727,3 4,656,3
Mechanics’ . . 1,000,0
896,5 11,837.7
945,6 5.946,0
750,0
N assau-------637,0 3,216,Cr
300,0
Nat. C i t y . ..
100,0
N orth S id e ..
212,5 1,677.4
Jersey City.
400,0 1,192,2 4,182,9
First Nat’ l.
250,0
719,2 2,558,6
H ud.C o.N at.
200,0
Third N a t .. .
338.7 1,715,0
H oboken.
220,0
581,5 2,428,1
First N at__
125,0
202,1 1,816,0
Second N at.

Specie.

Legal
Tender
and
Bank
Aotes.

Banks.
New York
May 1 1 ..
M ay 1 8 ..
M ay 2 5 -June 1 - .
June 8 . .
B oston.
M ay 1 8 ..
May 2 5 -June 1__
June 8 . .
Phila.
May 1 8 ..
May 2 5 ..
June 1 - .
June 8 - -

$
289,514,5
289,514,5
289,514,5
290,094,1
290,094,1

Specie.

Loans.

Legals. Deposits, a Circu­
lation.

Clearings.

$
$
1126,223,6 212,484,8
1124,808,7:215,060,2
1126,389,5 221,189,6
1139,931,1 221,928,0
1141,445,4 213,574,2

$
72.106.2
72,937,7
72,659,4
72,903,1
72,191,7

$
1104,419,1
1106,100,9
1112,640.5
1128,194.6
1119,141.5

$
50,181.5
50,440.4
50.659,6
50,628.9
50,565,9

$
1.644,241,6
1,613,334.9
1,656.086.1
1,386,695,3
1,635,016,9

18,051,0
17,632,0
16,641,0
16,475,0

4,270,0
4,416,0
4,123,0
4,343,0

218,740,0
214,616,0
213,387,0
215,782,0

8,499,0
8,492,0
8,490,0
8,414,0

157,947.4
140,823.1
117,161,8
168,192,3

264,595,0
265,331,0
266,117,0
261,442,0

14,031,0
14,055,0
14,055,0!
14,070,0

144,546,8
138,469,7
136,154,1
148,548,8

43,680,0
43,680,0
43,680,0
43,680,0

191,665,0
190,782,0
189,323,0
187,091,0

51,165,0
51,165,0
51,165,0
51,165,0

225,300,0
226,050,0
226,649,0
226,703,0

60,398,0
60,319,0
60,019,0
58,127,0

a Including for Boston and Philadelphia the item “ due to other banks” and
also Government deposits. For Boston these Government deposits am ounted
on June 8 to $4,580,000; on June 1 to $4,573,000.

Imports and Exports for the Week.— The follow ing are
the im ports at New Y ork for the week ending June 8 , also
totals since the beginning of the first week in January:
F O R E IG N IM PO RTS A T N E W Y O R K .
F or week.

1904.

1905.

1906.

1907.

$2,050,326
8,008,673

$1,795,494
9,436,212

$15,850,917

$10,058,999

$11,231,706

$73,790,959
265,843,681

$63,506,296
260,324,026

$53,786,320
219,184,267

D ry G oods_______ _____ ____

$2,872,801
11,497,122

$2,608,625
13,242,292

T o t a l ______________ _____
Since January 1.
D ry G oods__________________
General Merchandise_______

$14,369,923
$85,976,800
314,168.283

Total 23 weeks___________ $400,145,083 $339,634,640 $323,830,322 $272,970,587

The following is a statement of the exports (exclusive of
specie) from the port of New Y ork to foreign ports for the
week ending June 8 and from Jan. 1 to date.
E X P O R T S FR O M N EW Y O R K F O R T H E W E E K .
1907.

1906.

1905.

1904.

$10,933,296
265,238,912

$11,999,728
271,271,381

$10,158,657
232,467,019

$8,761,345
208,759,154

$276,172,208 $283,271,109 $242,625,676 $217,520,499

The following table shows the exports and im ports of
specie at the port of New Y ork for the week ending June 8
and since Jan. 1 1907, and for the corresponding periods in
1906 and 1905:
E X P O R T S A N D IM PO RTS O F SPEC IE A T N EW Y O R K .
Imports.

Exports.

Deposit icith
Clear­
ing
Agent.

Net
Other
Banks, Deposits.
<C-c.

$
12.9
30,0
91,3
89,9
324,0
729,0
12,2
323,3
9,8
105,7
17,4
31,5
235,0
22,9
36,0
68,8
421,0
43,0
823,0
316,2
121.8

$
53,3
90,9
61,6
388,1
295,0
73,0
62,1
264,5
317,4
139,6
282,1
340,3
167,0
115,8
234,0
169,2
238,1
417,3
100,0
6,0
36,4

f
137,2
75,1
71,7
470,6
393,0
274,0
101,7
407,7
247,1
492,3
151,5
596,7
1,108,0
88,9
207,0
171,0
606,8
304,7
857,0
161,0
62,1

47,4
14,0
148,5
444,9
236,3
232,0
130,0
24,7

212,7
208,2
100,0
119,2
718,3
467,0
405,0
129,2

249,0
191,8
324,8
619,8
1,303,9
1,510,0
697,0
38,8

144,3 3,779,2
53,2 2,883,8
34,5 2,315,3
201,8 4,989,0
164,3 13,876,1
____ 6,110,0
96,0 3,948,0
316,8 1,926,5

177,1
104,7
45.1

263,8
72,9
108,6

2,813,6
172,8
542,6

433,0
178,2
26,1

6,279,7
2,086,2
2,080.5

128,1
64,6

24,9
46,0

215,0
63,3

154,0
71,7

2,239,6
1.805,5

$
_____
42,5
129,0
372,4
287,0
_____
751,3
146,6
58,5
3,5
_____
193,1
64,4
_____
133,8
70,0
9,0

S
880.9
1,524,9
1,638,1
5,085,6
6,632,0
4,688,0
966.4
6,164,6
4,291,7
3,172,4
3,534,2
4,936,3
4,832,0
2,342,6
2,886,0
2,035,4
8,277,3
4,148,7
5,095,0
1,400,9
726,0

T ot. une 8 9,947,0 14581,5 118872,1 5,662,1 6,727,5 15,727,5 4,135,0 129578,4
T ot. June 1 9,947,0 14581,5 117829,7 5,574,0 6,489,4 13,925,0 4,130,1 126665,7
T ot. May 25 9.947.0 14507,3 117951,8 5,631,6 6,556,9 14,109,9 3.999,1 126584.2




Capital
and
Surplus.

Gold.

W e omit tico ciphers (00) in all cases.

Capi­
tal.

.

W e omit two ciphers (00) in all these figures.

United States deposits included, $31,661,700.

Reports of Non-Member Banks.— The follow ing is the
statement o f condition of the non-m em ber banks for the
week ending June 8 , based on average daily results.

Banks.

l x x x iv

New York City, Boston and Philadelphia Banks.— Below
is a summary of the weekly returns of the Clearing-House
banks of New Y ork City, Boston and Philadelphia. The New
Y ork figures do n ot include results for non-m em ber banks:

T o t a l .............. 129,100,0 160,994,1 1141,445,4 213,574,2 72,191,7 1119,141,5 25-5
a
a T otal

[V o l .

Week.

Since Jan. 1

Great B r ita in ______
F ran ce_____________
G erm an y___________
W est Indies......... ......
M exico .................... South Am erica_____
All other cou n tries..

$4,052,046
1,513,372

$4,845,085
3,536,771

15,170

' 412 ,555
7.000
1,460,711

$9,416
3,949
22,943
8,916

$2,540,353
331,087
1,155,297
139,042
64,237
1,145,603
179,550

Total 1907..............
Total 1 90 6.............
Total 1905_______
Silver
Great B r ita in ______
F ra n ce_____________
G erm an y___________
W est Indies_________
M e x i c o ....... ...............
South Am erica_____
All other cou n tries..

$5,580,588 $10,262,122
5,590.422
253,400
127,600 32,889,146

$45,224
310,289
99,923

$5,555,169
44,552,870
5,353,453

Total 1907..............
Total 1 90 6.............
Total 1905..............

$980,298 $18,272,085
949,910 25,073,222
815,557 14,402,725

$655,763 $17,012,473
1,143,000
307,000
6,555
104,671
17,535
600
4,786

$2,259
4,894
12,664
393

158
51,383
317,743
383,436
6,962

$17,951
34,288
65,001

$761,941
1,078,070
1,596,349

Of the above im ports for the week in 1907, $790 were
American gold coin and $42 American silver coin. Of
the exports during the same time $15,170 were American
gold coin and $16,000 were American silver coin.

faulting and Financial.
We shall be pleased to mail investors copies o f our 10-page
oircular describing 5 7 S h o r t - T e r m N o t e s a n d C o l l a t e r a l
T ru st

B on ds.

Spencer Trask & Co.
ran ch Office, A lb a n y N . Y .

W i l l i a m a n d P i n e S t s .. N e w Y o r k .

M o f f a t

& W
h i t e
Members Mew York Stock Exchange.

6 N ASSAU STRE ET.
D e a le r s in

H A N O V E R B A N K B U IL M N G

I n v e s t m e n t S e c u r it ie s .

C O M M IS S IO N O R D E R S E X E C U T E D

FO R CASH

ONLY

JlTNE 15 1.907.]

THE CHRONICLE.

premium. Charleston selling $1 per $ 1,000 premium. New
Orleans bank 10c. per $1,000 premium; commercial 20c. per
$ 1,000 discount. Chicago, par. St. Louis 20c. per $ 1,000
premium. San Francisco, par.

F o r D ivid en d s see page 1409.

Wall Street, Friday Night, June 14 1907.
The Money Market and Financial Situation.— Influences
which have had an increasing tendency of late to depress
the markets or restrict operations in Wall Street are still
dom inant, and to these are now added two or three more or
less im portant failures and a somewhat firmer m oney mar­
ket. As a consequence business has continued small in
volum e and m ostly of a routine or conventional character,
and prices are generally lower. Thursday’s stock market
was the dullest in many months, and throughout the week
transactions at the Exchange have been far below the average
for the season.
Official and other opposition to the so-called “ trusts” has
found expression in the institution of legal proceedings
against the anthracite coal companies. Gold to the am ount
of $2 ,000,000 has been engaged to-day for export, bringing
the total to date up to $12,400,000. The weekly report of
the Bank of France shows the result of this gold m ovem ent.
The Bank of England's report is not essentially different
from that of last week.
The Governm ent crop report for May was somewhat more
favorable than had been expected, and crop news from other
sources are encouraging. On these reports wheat has de­
clined rather sharply, but the effect, if any, in the security
markets is hardly perceptible.
As noted above, the m oney market shows a hardening
tendency, call loan rates having reached 3 % % to-day. This
is doubtless owing to gold exports, to the approaching halfyearly settlements, and to the expected withdrawal of G ov­
ernment deposits from the banks. The latter, however,
will be largely offset b y the redemption of maturing Govern­
ment 4s if presented.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1 % to 3%_%. T o-d a y ’s rates on call were 2 % @ 3 % % .
Prime commercial paper quoted at 5 @ 6 % for endorsements
and 5 % @ 6 % for best single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £229,364, and the percentage
of reserve to liabilities was 46.96, against 46.90 last week.
The discount rate remains at 4 % as fixed April 25. The
Bank of France shows an increase of 38,350,000 francs in
gold and 200,000 francs in silver.
N E W Y O R K C IT Y C L EA RIN G -H O U SE B A N K S.

1907
June 8.

Dijferences
from
■previous week.

1905.
June 10.

1,514,300
63,000
9,053,100
8,353,800
711,400

285,765,900 D ec.
279,785,375 D ec.

9,065,200
2,263,275

268,945,900
261,783,850

290.785.700
280,958,200

5,980,525 D ec.

6,801,925

7,162,050

9,827.500

Surplus reserve____

$

1906.
June 9.

$
129,100,000
C a pital________________
160,994,100
S u r p lu s ... ----------------Loans and discounts— 1,141,445,400 Inc.
50,565,900 D ec.
Circulation______ _____
Net deposits----------------- a lll9,141,500 D ec.
213,574,200 D ec.
Specie ..... ...............—
72,191,700 D ec.
Legal tenders................
Reserve held__________
25% o f d e p o s its ...........

$
$
117,472,700 115.972.700
149,236,400
138,953,600
1,059,162,600 1,089,520,900
48,931,400
46,575,100
1,047,135,400 1,123,832,800
187,129,600 205.492.700
81,816,300
85,293,000

a $31,661,700 United States deposits Included, against $31,613,200 last week and
$16,672,700 the corresponding week o f 1906. W ith these United States deposits
eliminated, the surplus reserve would be $13,895,950 on June 8 and $20,685,750
on June 1.
N ote.— Returns o f separate banks appear on the preceding page.

Foreign E xch ange.— The m arket was quiet though gener­
ally firm this week and one feature was the absence of gold
engagements for shipment until Friday, when arrangements
were made for the export of $2,000,000 to Paris on Saturday.
T o-d a y ’s (Friday’s) nominal rates for sterling exchange were
4 84% for sixty day and 4 87 % @ 4 88 for sight. T o-d a y ’s
(Friday’s) actual rates for sterling exchange were 4 8370@
4 8380 for long, 4 87 1 0 @ 4 8715 for short and 4 8 7 55 @ 4 8765
for cables. Commercial on banks 4 83 45 @ 4 8355 and docu­
ments for paym ent 4 8 2 % @ 4 8410. Cotton for paym ent
4 82 % @ 4 83; cotton for acceptance 4 8 3 45 @ 4 8355 and
grain for paym ent 4 8 4 @ 4 8410.
T o-d a y ’s (Friday’s) actual rates for Paris bankers’ francs
were 5 1 9 % @ 5 18% a for long and 5 1 6 % @ 5 15%fo for
short. Germany bankers’ marks were 94 9 -1 6 @ 9 4 % for
long and 95% d @ 9 5 % for short. Amsterdam bankers’
guilders were 40 3 3 @ 4 0 35 for short.
Exchange at Paris on London to-day 25 f. 14c.; week’s
range 25f. 14% c. high and 25f. 14c. low.
The week’s range for exchange rates follows:
-Short-Cables-L on gSterling, Actital@ 4 8715
14 8710
14 8755
H igh............4 8370
@ 4 8380
@ 4 8765
@ 4 87
L o w ...........4 8360
@ 4 8365
14 8740
14 8695
@ 4 8745
Paris Bankers’ Francs—
H igh............5 19*3
@ 5 18 % a
@ 5 15% ft
15 16%
L o w ----------5 19 % a
@ 5 18%<z |5 16% d
@ 5 16%
Germany Bankers’ Marks—
H igh............ 94 9-16 @ 9 4 11-161 95%
@ 95 5-16
L o w ............ 94 9-16 @ 94%
| 95 3-16 @ 95%
Amsterdam, Bankers' Guilders—
H igh...................................................
| 40 33
40 35
L o w ---- --------------------------- ---------I 40%
40 5-16
Less:
Plus:

a 1-16 of 1 % .
k 1-16 of 1 % .

d 1-32 of 1% .
x 1-32 of 1 % .

ft 3-32 of 1% .
V 3-32 of 1 % .

The following were the rates for domestic exchange on
New York at the undermentioned cities to-day: Savannah
buying 50c. per $1,000 discount; selling 75c. per $1,000




1411

State and Railroad Bonds.— Sales of State Bonds at the
Board are lim ited to $152,000 Virginia 6s deferred trust re­
ceipts at 26% to 28.
No change w orthy of note has taken place in the character
or tone of the market for railway bonds. There has been a
little more activity in the Japanese issues, bu t otherwise the
market has continued to be exceptionally dull and featureless.
The tendency of prices, where changes have occurred, has
been towards a lowel level.
United States Bonds.— Sales o f Governm ent bonds at the
Board include $12,500 2s cou p., 1930, at 105% ; $8,000
4s cou p., 1907, at 100% , and $500 4s reg., 1925, at 129% .
The follow ing are the daily closing quotations; for yearly
range see third page following.

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

1930 _____ ____registered
. . coupon
1930_____
1908-1918 ____ registered
1908-1918 ___
coupon
1908-1918. .sm all coupon
1907 _____ ____registered
1907......... ______ coupon
1925
.registered
1925_____ ----------coupon
1936.Panama Canal regis

Interest
Periods

June
8

June
10

June
11

June
12

June
13

June
14

Q - -Jan
y - -Jan
y - -Feb
y - -Feb
Q—-Feb
y - -Jan
y - -Jan
y - -Feb
y - -Feb
y - -N ov

*10414
*104%
*102
*102
*101%
*100%
*100%
*128%
*128%
*104 %

*104%
*104%
*102
*102
*101%
*100%
100%
*128%
*128%
*104%

*104%
*104%
*102
*102
*101%
*100%
*100%
*128%
*128%
*104%

*104%
*104%
*102
*102
*101%
*100%
*100%
*128%
*128%
*104%

*104%
*104%
*102
*102
*101%
*100%
*100%
*128%
*128%

*104%
105%
*102
*102
*101%
*100%
*100%
*128%
*128%

* This is the price bid at the morning board: no sale was made.

Railroad and Miscellaneous Stocks.— In the stock market
business continues dull and the tendency of prices lias been
steadily downward. Fluctuations have been much narrower
than usual until to-day, however. In some cases net changes
are limited to fractions, but there have been few exceptions
to the general tendency mentioned. Of a list of 28 active
issues, 26 are lower and only 2 higher than last week.
Reading and Union Pacific, besides having been the m ost
active issues, are exceptional in having covered a range of
over 8 points and 7 points respectively; both close within a
fraction of the lowest. Interborough-M etropolitan has con­
tinued weak,-closing over 2 points down. New Y ork Central,
North Western and Erie have been relatively strong features.
The copper stocks have lost a part of their recent advance,
Amalgamated and “ Smelters” showing a decline of about 5
points. Air Brake declined 6 points and recovered fraction­
ally. Steel com m on is down a point and the preferred som e­
what less.
For daily volume of business see page 1419.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending June 14.

Sales I
W eek:

Range for week.
Lowest.

875; $7% June
Bethlehem Steel Corp__
400! 11 June
Buffalo R och & P it t s ___
100 81 June
Comstock T u n n e l______ 1,200 25c. June
D etroit South'n tr rec'ts.
iuu
o ju n e
Federal Sugar Refining _
450 60 June
General Electric rights . 17,725^ l% J u n e
Gt Northern subscript’ n
receipts, 50% p a id ___ 3,260.118 June
Homestake M ining_____
300; 72 June
Quicksilver M g., p r e f ___
10
l% J u n e
St L & S F -C & E Illnew
stock trust c t f s ......... $ 10,000 60 June
Southern Pacific rights . 58,037
J^June
Texas C e n tra l__________
37 50 June
P referred ____________
18 85 June
Western Mary la n d _____ U lOOi 16 June

\
14
10)
14
10
iz
11
13

Range since Jan. 1.

Highest.
$8% June
11 June
81 June
34c. June
o June
62% June
l% J u n e

Lowest.
10
8
14
8
iz
11
8

$7%
10
80
23c.
ci
42
1%

Highest.

June,$9%
May
May 20% Jan
M a y ll5
Jan
Mch 50c.
Jan
April
{> June
Feb: 62% JuSe
June 2
May

14121% June 10 115
June 130% A p ril
10 72% June 8 55K May! 85
Feb
10
l% J u n e 10jj 1% June
1% June
13
10
11
11
12

60
1
50
85
16

June
June
June
June
June

13"
8:
11
111
12

60
%
50
85
15

Mcb;
May
June
June!
April

71
F eb
1% May
50
June
85
June
30% J a »

Outside M arket.— The market for unlisted securities
suffered a reaction from the im provem ent noted last week, all
departments being affected b y the weakness on the Stock
E xchange. Business has been dull and the tone of the mar­
ket heavy. Nevada gold mining stocks attracted con­
siderable attention. Chicago Subway was a salient feature
in the dealings among the specialties, various rumors being
afloat concerning the com pany. The stock, after m oving up
from 20 to 2 1 % , jum ped to 25 % and to-day to 2 5 % . It
broke to 23 bu t rallied and closed at 2 4 % . Manhattan
Transit was also conspicuous for an advance from 5 % to 7,
bu t dropped back finally to 5 % . Havana T obacco com m on
advanced from 11% to 13% and the preferred from 18 to 19,
and back to 17. N. Y . & Cuba Mail S.S. rose from 24 % to
28, but sank to 26. Standard Oil from 519% fell to 517%
then m oved up to 520. It subsequently reacted to 511.
W aterbury Com pany preferred declined from 40 to 3 9 % ,
advanced to 4 0 % , and sold down to-day to 40. Western Ice
m oved up from 33 % to 35 and closed to-day at 3 4 % . Trad­
ing in copper shares was light. Boston Consolidated Copper
from 25 % sank to 2 3 % . Butte Coalition advanced a point
to 25 % bu t subsequently receded to 2 3 % .
D avis-D aly
Estates m oved up fractionally to 13, dropped to 11 and re­
covered to 12. Douglas Copper fell half a point to 9 % in the
early dealings, bu t then sold up to 10% , easing off to 10% .
Greene Cananea advanced from 15% to 16 % , sank back to
15% and ends the week at 15 % . United Copper com m on,
after advancing from 68% to 69 ran down to 64. Nipissing
declined from 12% to 11 % , closing to-day at 11% . Micmac
was conspicuous for its activity and strength, advancing
from 3 % to 5 % .
Outside quotations will be found on page 1419.

New York Stock Exchange— Stock Hecord, Daily, Weekly and Yearly
O C C U P Y IN G
STOCKS— H IG H EST A N D LO W EST SA LE -PRICE S.
Saturday
June 8

M onday
June 10

Tuesday
June 11

Wednesday
June 12

Thursday
June 13

TW O

PAGES

ST O C K S
N E W Y O R K STOCK
EXCH AN GE

Friday
June 14

Range tor Year 1907
the
On basis or 100-store lots.
Week
Highest.
Shares
Lowest

R a ilro a d s
A t c h T o p e k a & S a n ta F e __
88% 8834
87is 88
D o pref.
92% 92%
92% 9234 -cL
§97
97
95% 96 A tla n tic C oast L in e R R ____
altim ore & O hio
93% 94
92% 93%
Do
p r e f_____
*86
88
85% 85%
50% 52% B r o o k ly n R a p id T r a n sit____
52% 54
* ____ 75 *
75 B u ffalo & Su sq u e, p r e f____
16818 16834 167 168% Canadian P a c ific ____
17,920
C anada S o u th e rn ___
*63
63% *62
64
170 170 *169 175 Central o f N ew Jersey.
*34% 35%
33% 34% C hesapeake & O h io __________
20
*15
*15
19% C h ica go & A lto n R R
* _ _ 53 *
D o p r e f___________
53
*10% 11%
10% 10% C h icag o G reat W e s te rn ____
72% §69
D o 4 % debentures.
*71
69%
D o 5 % p r e f " A ’ ’ _.
44
44
44
44
D o 4 % p r e f “ B ” _.
*1414 16
*1434 16
12434 126% C h icag o M ilw <S« St P a u l____
126% 127
D o p r e f________________
*150 154 §151% 151%
D o c o m c t fs 25 % p a id
§10834 108% 109% 109%
D o p r e f c t fs 25 % p a id
130% 130% 130% 13034
142% 143
141ls.l42% C h ica go & N o rth W e s t e r n ..
D o p re f
*205 209 *205 210
*125 135
130 130 C h ic St P M in n & O m a h a ..
D o pref.
*150 180 *150 180
10
*5
*5
8 C h ica go T erm in al T r a n sfe r .
D o p r e f_________________
20
20
*15
*15
*3
3
3 C h ica go U n io n T r a c t io n ___
3%
*14
D o p r e f_________________
17
18
*15
500
*64
*65
67
67% C leve Cin C h ic & St L ______
D o p r e f_________________
*95 105
*95 105
4,130
23% 23%
23% 23% C o lo ra d o & S o u th e rn ______
D o 1st p re fe rr e d _______
58
58
100
*57
*57
4434 443j
D o 2d p re fe rre d ________
1,200
*44
45
e law are & H u d s o n _______
166 166% 163% 166
5,495
elaw are L a c k & W estern
*450 465 *449 465
1,500
25 D e n v e r & R i o G r a n d e ..
25% 25% *22
D o p r e f_______________
110
*70
71
73%
71
372
62% 63
6134 6134 D e tro it U n ite d _______________
250
*10% 1234 *10% 12% D u lu th So Shore & A tla n tic
D o p r e f___________________
*17% 22% *17% 22
22% 2234
rie ......................................... ..
22
21,600
22%
D o 1st p r e f ___________
1,700
56
56% 56%
Do
2d p r e f ___________
*36% 37
36
2,200
36%
75
*65
*65
75 E v a n sv ille & T erre H a u t e . _
D o p r e f___________________
95
*85
*85
95
126% 127% 124-% 126% G reat N o rth e rn p r e f_______ 35,713
T e m p c t fs fo r ore p r o p ___ 16,700
52% 53
52% 53
G reen B a y & W , d e b c t f A .
8
Do
deb c tf B .
8%
*1111 30% * ____ 30% * ____ 30% *20
a v a n a E le c t r ic ___________
30%
30% *25* 30%
* ____ 80 * ____ 80 *
80 * ____ 90 * ____ 90
D o p r e f_______________
90
*
* ...1
80
80
* ____ 83 H o c k in g V a lle y t r re c ts ____
83
83
80
81
600
*80
*80
* 79' 83
83
83%
83% 83% *85" 85% *80
100
85% H o c k in g V a lle y , p r e f_______
*13512 138 *1351.1138
135% 135% 135% 135% *135% 138
562
135% 135% llin ois .Central_____________
16% 17
n te r b o r o -M e t r o p o lit a n ___
1734 1838
17
17
*1712 1834
5,200
15
17
15% 16
49lg z48
49
48%
46% 47%
D o p r e f__________________
46
461-> 43% 46
10,210
44
45%
*1734 18% *17% 18% *17
*1712 ISI4 *17% 18
*17% 18
18 Io w a C en tral________________
41
41
41% 41% *40% 41% *39
40
D o pref
40
600
39
39% *38
*72
70
*73
*72
76
75
73
C F t S & M, t r c t s p r e f ..
75
73
73
*70
74
800
2434 2434 25
ansas C ity S o u th e rn ____
253s *24
25% *24
25% *23
25
24% 24%
900
605* 60% x57% 5734
5634 *55
56% 57
56
D o p r e f_______________
1,900
57
55
55
*18
20% *16
23
23
*16
ak e Erie & W e s te rn ______
*17
23
23
*16
*16
23
*55
65
*55
65
*55
65
*55
62
D o p r e f _______________
63
65
*55
*55
____ *45
*45
55
55
*45
55
55
*45
*45
55 L o n g Is la n d _________________
112% 113% 111% 113% 111% 11134 111 111
113 113
5,520
IIOI4 111 L ou isv ille & N a sh v ille ______
135 135 §137 137 *133 138 *134 137 *134 137
a n h atta n E le v a te d ______
132% 132%
370
*80
*80
90
*80
*85
89
89
90
e tro p o lita n S tre e t_______
90
*80
90
*80
2038 20%
2034 2034
20% 20%
20% 20%
20 M exica n C en tral____________
800
20% 20% *19
*
47 * ____ 47 *
47
*43% 47
*43
46 M in n eapolis & St L o u is ____
*43% 46
*85
*80
*80
*80
85
85
85
85
D o p r e f___________________
85
*80
*80
85
103 104% 105 105% 103 105 *102 105
2,450
101 102
98 IOOI4 M inn S t P & S S M arie______
131 132 *130 135 *130% 135 *131 135
D o p r e f___________________
1,150
130%132
128% 130%
32% 33
32% 33
331? 33%
33
33%
32l-> 3234 32
32% M o K ansas & T e x a s ________ 13,500
643g 643S *6334 64%
6334 64
*63% 64%
D o p r e f___________________
650
63
63
63% 63%
7434 76
74% 75%
74% 75%
7412 75
5,860
75
75
74
75 M issouri P a cific
*120 130 *120 130 *120 130 *120 130 *120 130 *120 130
a s h C h a tt & St L o u is ____
*48
50
a t o f M ex, n o n -c u m p r e f .
*4812 ____ *48% ____ *48% 54
*48
50
*48
50
*
22 * ____ 22
*19% 21 * ____ 21 * ____ 21 * ____ 20
D o 2d p r e f.......... ............
112 11234 11234 113% 111% 114% 11134 112% 112%112% 111%112 N Y Central & H u d s o n ____ 23.380
____ *37
40
*38
39
40%
39
100
40
*37
*36% 40 N Y C h ic & St L o u is _______
____ ____ *107 115 * ____ 115 * ____ 115
*107 115 *107 115
D o 1st p r e f_______________
____
_ *73
*75
85
*75
85
85 * _ . 85 * - .
D o 2d p r e f_______________
85
165%165% *162 164% *159% 166 N Y N H a v e n & H a r t fo r d -.
5163 163 §164% 16438 §163 163
280
353S 36%
36% 37
36
36
36
36
2,700
37
34% 35 N Y O ntario & W e ste rn ____
*35
743s 74%
74
74
957
74% 74%
73% 73% *73% 74
73
73% N o rfo lk & W e ste rn _________
*70
85
D o a d ju stm e n t p r e f____
124% 126% 12514 127*8 124 12634 124% 125% 124*8 125
122% 124% N o rth e rn P a cific____________ 65,265
110 111% 11134 112
111% 112 *109% 112
D o subscrip r e c ts _______
1,600
109% 109% 109 109
*94
98
*93% 97
*93% 98
98
a c ific Coast C o ___________
*93% 97
*93
*93
98
*92 102
*92 102
*92 102
*92 102
*92 102
D o 1st p r e f____________
*92 102
*94 102
*94 102
*94 103
*94 102
D o 2d p r e f____________
*93 103
*93 103
120% 12134 120% 121% 11934 121% 119% 12018 119%-120% 118-% 119% P e n n s y lv a n ia ________________ 123,942
72
72
72
72
*67
*69
*69
*67
70
72 P ltts b Cin C h ic & St L _____
*69
*68
*90
*90
*90
95
95
*90
95
D o p r e f___________________
95
*85
*90
95
95
e a d in g ___________________ 663,170
1041s 105% 105% 107% 103% 106% 102 1043g 102% 103%
99 102*8
*80% 84
82
82
*80
84
*80% 84
1st p r e f________________
84
*80
84
100
*80
*82
82
82% *82
*80
82
83
*80
2d p r e f ________________
*80
82
*80
82
21% 21%
20
20% 21%
2 U4 21%
20%
20%
20
19% 19% R o c k Isla n d C o m p a n y --------- 19,625
46
42
46
46
46
46%
D o p r e f___________________
43%
42
42
4,970
46%
42% 43%
*6134 65
*62
69
*61% 69% *31% 65
*61
65
*61
65 St L & San F r, 1st p r e f------32% 33% §32% 32%
33% 3334
D o 2d p r e f_______________
3314 3334
2,910
33% 34
31% 32%
20
20%
21
21
20% 20% *20
*19
21
1,400
*19
19% 19% St L o u is S o u th w e s te rn ______
*50
D o p r e f___________________
54
53
*50
*50
*51
53
53
*50
53
*49% 53
7634 7734
_____. . .
76% 78
75% 77%
74% 76 Sou th ern P a cific
67,400
75% 76%
75% 76%
D o p r e f----------------------------111% 111% 111% 112% 112 112% 111*3 112
110-% 111%
3,678
111%112
19
19%
19% 19%
19%
19
19
7,200
19%
18% 19
18% 18% S ou th ern v t r c fs stan»?«*t__
60% 61
60
60
D o pref
do
60
60%
60
60%
1,600
5912 59%
59% 59%
*26-%
*2634
27
27%
27
27
1,800
27% 27%
27%
27%
26% 26%
-L h ird A v e n u e (N . Y . ) ____
*105 110 *105 110 *105 110 *105 110 *105 110 *105 110
’ ' ‘ 300
*26
27
26% 26is *25% 27
2538 25%
2714 *26
*253S 27
2734 27%
2734 27%
900
28
27% 273d
26% 27%
27*4 27% *27
D o p r e f v o t tr c t fs ______
50
50U
50
50%
2,140
4912 49%
49% 49%
49
49*4
49% 4934
94
93% 94%
91
93 I 93
93
1,820
593
92% 92% §92% 9212 T w in C ity R a p id T r a n sit___
132% 136-%] 133% 134% 133% 134*8 131 1335s J J 'n lo n P a cific
135% 13734 13534 138
556,725
D o pref
*86
86
88
86
*85
88
§85
750
85
*85
87
85
85
887S 893S 88% 903S 87% 89%
87% 88%
92% 92%
93% 9312 *92% 93% *93
93%
♦9434 9812
*95% 97%
98% 98%
96% 98
95% 96
9334 95%
94% 951*
9334 94%
*85
88
*85
88
*86
88
*86
88
5434 56%
5334 55%
54
53% 54%
5512
*
____
*
____
*
. 75
75
75
75
16884169% 168 169% 167%168% 167% 170%
*62
6334 *62
63% *62% 63% *62% 63%
170 170 *170 185 *170 175 *170 190
3534 36%
3434 35
35% 35%
35% 36
18
18
18
18
17
*15
17
19%
* ____ 54 * . . . 54 *_ . 54 * _
54
10% 11
11
*10% 11
10% 11%
11%
721o *71
72
72
72%
*71
72% *71
*4334 50
*4334 50 “ *44
*43'•> 50
50
16
16
*14% 17
*15
16
16% *15
12712 128'8 128% 12934 126% 129
126% 127's
*152 155 *152 154 *151 154 *150 153
111% 111% 112 11234 112 112% *109% 111
13332 13312 134 134% §13234 13234 131% 131%
143% 145
142% 145
141% 143
143% 144
*190 215 *205 215 *205 215 *204 215
*125 135 *125 135 *125 135 *125 135
*150 180 *150 180 *150 ISO *150 180
10
*5
10
10
10
*5
*5
*5
20
20
20
*15
*15
*15
20
*15
3% 3%
*3
4
4
*3
312 312
*16
18
*16
*16% 18
17
17
1734
6634 6634 *65% 67
*65% 67
65*2 66%
*95 105
*95 105
*95 105
*95 105
2334 23% 23%
23
23% 2334
23% 233j
58
57% 57% *57
*57
58
*57
58
4434 4434
44% 45%
45
*44
45
44%
16734 169% 168% 169% 167% 171
166% 168
*450 465 *445 465 *449 465 *450 465
2534 2534
251o 25%
25% 261S 26
26%
*70
76
*70
73% §73% 73% *70
73
65% * ____ 65
$6512 65% §65% 65% *
§10% 10%
11
11
*10% 1234 *10% 12%
*19
22% *1712 22% *1712 221?
22% *19
2214 22%
221o 23%
2ZU
22% 22%
23
*56
56% 57%
56% 5612 *56% 57%
57
36
36
36
36
36
36%
36% 37
70
*65
*65
70
70
*65
*65
75
*85
95
*85
95
*85
*85
95
95
126% 127%
127% 128% 12812 12934 126% 129
54
53
55%
53
54
55%
5134 54%

B

C

D

& *■
000 j

E

IT

I

K
L

M

N

P

R

BANKS
B anks,
N ew Y o r k .
A e t n a ______
A m e r ic a If__
A m e r E x cfa .
B a tte r y P a r k
.B ow ery U___
B u tc h 's & D r
C en tu ry lf___
C h ase_______
C h a t h a m ___
C h e ls 'a E x c 11

Bid
210
515
220
120
320
160
190
300
305
200

A sk

B anks.
C h e m ica l___
C itizen s’ Ctrl
220 C i t y ...............
530
C oal & I r o n .
230 C o lon lallf___
130 C o lu m b ia If.
330
C o m m e r c e .170 C o n s o lid a t’ d
____ C o p p e r ___ 350
C orn E x ch
315
D is co u n t If.
____ East R i v e r .
F id e lity I f . .

Bid
395
140
248
230
700
500
170
155
225
285
150
150
195

AND
A sk
405
145
252
245
525
175
160
235
295
160
160
205

TRU ST

COM PANIES— B R O K E R S ’

Bid
B a n k s.
F ifth A v e lf. 3900
F i f t h ............. 340
F irst _______ 615
14th S tre e t 1T 225
F o u r t h ____ 185
G a lla tin ____ 350
G a rfie ld ____ 500
G erm anAm U 140
G erm an E x fi 420
G erm an ia If. 500
G reen w ich If 285
260
H a m ilto n
H a n o v e r ___ 495

Ask
4200
___
630
300
195
360
525
150
....
295”
280
505

Bid
B a n k s.
Im p & T r a d 550
I n te r b o r o If. 150
Ir v in g N E x 185
Jefferson If. . 200
L i b e r t y ____ 500
L i n c o l n ____ 1100
M an h a ttan If 295
M arket & F u l 255
M echanics’ . 230
M e ch & T ra H 165
M e rca n tile . . 235
M eroh E x ch 185
M erch an ts’ . 157%

A sk
565
157%
200
220
510
_
310
265
240
170

8 2 % M c h l4
92 M ch25
92 M ay27
90% M ch25
85% J ’ne 14
45% M c h l4
83 F e b 16
155 M ch23
60 M c h l4
165 M ch25
3134 M a y 2 7
11% M ay20
53 J n e 6
9% M ay27
72 J ’n e 8
44 J ’n e 13
12% M ay23
122ioM ch25
145 M ch25
107 M ay27
126% M ay28
137% M ch25
200 A p r 4
120 M ch25
160 J a n 18
5 M ch28
9 M ch27
278 M a y l5
11% M c h l4
63 M ch26
101 M a y l3
21 M a y 2 7
56 M ay22
40 M ay27
160 J ’n e 5
445 M ch26
24 M ay27
6978 M ch25
61% J ’ne 14
934 M c h l4
19 M ay27
20 M ay28
5138 A p r 15
33% M ay28
90 A p r 4
122 J n e 3
49% M ay27
8 M ch 9
30 A p r 23
72 A p r 1
75% M ch28
83% M ch28
134 M ch 26
15 J ’n e 13
z 431„ J ’ne 13
177« J ’ n e 7
30ls M ch25
70 J ’n e 11
18 M ch 14
45 M ch25
19% M c h is
55 A p r 2
52 M ch 13
108 M ch25
129 M ch25
83 M ay29
15 M ch 14
46 M ay23
86 M c h 26
90 M a y 28
123 M c h i4
30% M ch 26
59 M c h 26
64 M ch 14
119 M c h 22
48% M ch 23
20% M c h 26
108% J ’n e 3
35 M a y28
109 M ch25
70 M ch 2 6
159% J ’n e 4
313s M ay28
71 M ch 14
80 M ch 14
114% M ch25
106% May28
90 M ch 15
95 M ch 20
114 M ch 14
66 M a y 28
91 J ’n e 3
91 M ch 14
80 M ay24
77% M ay24
1773 M ch26
4034 M ch 26
59 M ch 18
29 M ch25
18 M ch 19
45I4 M ch25
69*4 M c h i4
109U M ay27
17 M ay27
53 M ay28
2434 M ch25
101 Aicn 14
24 M ch 28
2334 \ lc h 26
45 M ch 8
87*4 M c h i4
120% M c h i4
■ 85 J n e i4

Range ,or Previous
Year (1906).
Lowest

i Highest.

108% Jan
853s M ay 110% S ep
101% Ja n 12 £98 D e c 106 J a n
133% Jan 5 131% J ’ly 167% J a n
122 Jan 5 IO534 M ay 125% S e p
94% J a n 10
91 O ct
99% J a n
71 J ’ly
83% J an 7
94% J a n
83 Jan
8534 F e b 8
87 F e b
195% J an 4 155% M ay 201% D e c
65% J ’ne
6 51■>J an 14
70% J an
219% Jan 2 204 M ay 239's M ay
51% N o v
56 Jan •
65% A u g
27% Jan 5
25% Sep
3538 O c t
69 Jan 5
70 D ec
77% O c t
16 J ’ne
23% J a n
18 Jan 2
86% J a n
79 F e b 25
79% Sep
80 J a n
7134 F e b 14
70 D e c
39% Jan
26% J a n 5
247s N o v
157% J a n 14 ti4 6% D e c
199% D e c
165% Jan 5 *160 D e c 218 A u *
141 J a n 14
____
149 J a n 15 ____ ____
205 J a n 10 192 A p r 245 J a n
234 J a n 10 225 A u g 270 M ch
170 Jan 8 168 J ’ne 198 J a n
165 J a n 19 175 N o v 202 J a n
934 A p r
934 F e b 21
18% Ja n
25 D e c
4234 Ja n
25 J a n 11
3% M ay
6% A p r 3
1334 F e b
19% Jan 9
11% J ’ ly
47% M ch
92% J an 7
89 D e c
10978 J a n
108% Jan 7 110 J ’ly 118 Jan
29% Jan
38% Jan 9
41 O ct
69i-> Jan 7 I 66% A p r
73% F e b
58% Jan 8 ; 43 M ay
59 D e c
2271a J an 2 189 M ay 23434 N o v
510 J a n 24 43734 M ay 560 M ay
36% M ay
517s Jan
427s J an 7
91U J a n
83% J a n 10
83 O ct
102 “ F e b
80% J a n 16
7978 D e c
227s Jan
19% J an 5
16 J ’ly
32 A p r
45 Jan
39 J a n ■1
5078 J a n
38% M ay
44% J a n 5
7434 D e c
83 J a n
75% Jan 7
62% A p r
763s J an
67 Jan 7
76 J an
68 D ec
92 A p r 5
80 J ’ly
94 A u g
18934 Jan 2 C178 D ec 348 F e b
7034 D e c
85 Jan 5
85 D e c
RU. N o v
92% J an
23U Jan
1134 O ct
14% J a n 17
33% J an
53 “ A u g
47 Jan 3
77% J an
86% Jan 4
97*4 M a y
____
____ __
114 M ch 1;
94 J a n 5
92% N o v
99% J ’ne
172 Jan 3 164 M ay 184% J ’ne
33% J ne
39 J a n 23
55% M ay
75% Jan 7
703S J ’ly
87*3 M a y
3434 Jan
28% Jan 4
24 J ly
63*4 Jan
51 Jan 7
48 J ’ly
80 Jan 10
77 O ct
84% F e b
3034 J an 5
2278 J ’ly 37*8 Jan
71 Jan
6134 Jan 8
49 J ’ly
447g J an
28% J a n 12
27% J iy
§92i-> Jan
67% A p r 26
75 Sep
8134 Jan
61% O ct
671 ■>Jan 9
145% Jan 5 136% May- 156U Jan
162 Jan
146 F e b 13 140 Sep
127 Jan
107 J a n 23 103 J ’ ly
18% M a y
29% D e c
27% Jan 5
84% J an
58% D e c
59 J a n 15
IOOI4 Ja n
90 A p r
90 J a n 24
164 M ch
140% J a n 3 134 D e c
18334 J an
168 Jan 3 163% A p r
29 M ay
43% N o v
445s M ch 1
64% A p r
7234 Jan 4
76 N o v
85% M ay 106*4 J a n
9234 Jan 5
147 Jan 8 133 M ay 149% Jan
36 A p r
5934 D ec
59% J a n 9
18% J ne
27 F e b 14
20 D e c
13434 J a n 10 126 N o v 156% J a n
59 M ch
63i-> Jan 7
73% A p r
110 J a n 16 111 A p r
120% Jan
80 M ay
9184 Jan 7
92 D e c
189 Jan 9 189% D ec 204% J a n
4334 M ay
48% J a n 5
57% Jan
84 F e b
92% Jan 5
97% O ct
89% A p r
96 Jan
90% J a n 10
189% Jan 7 179% M ay 232% F e b
134 F e b 13 ____ ____ ____ ____
142 J ’ne
124% J a n 7 103 Jan
105 Jan
106 Jan
135 M ay
125 M ch 8 105% Jan
1413s Jan 8 122% J ’ly
147% Jan
75 M ay
78 J a n 22
87 Jan
105% Jan 6 100 M ay 109 A u g
112
7
M
ay
139% Jan
3:164 J a n
92 Jan 7
89 Sep
96 Jan
90 A p r
94 J a n 8
102 Jan
30% J a n 5
22% J ’ly
32% N o v
64% Jan 5
60 J ly
6934 A u g
70 J a n 11
60 F e b
7234 A p r
483g Jan 5
401 •>J ’ly
51% F e b
25% Jan 7
20% M ay
277s J an
62% F e b 15
48*4 M ay
63% Sep
96% J a n 14
61 M ay
97% Sep
118% J an 14 116 J ’ly
120% J ’ne
34 Jan 5
31% N o v 42% Jan
941 ■•Jan 5
93% D e c
103 J a n
37% Jan 7
40% O c t
28 M ay
123 Jan 8 121 N o v 2139% Jan
29 Jan 71
25% D ec
36 Jan
3334 J an 5
40% J a n
25% J ’ly
54'8 A p r 12
43 J ’ly
59”s J an
108% Jan 7 102 D e c 122% Jan
183 Jan 5 138% M ay 195*s Sep
96 M ay
99I4 Jan
91% M ay

Q U O TATIO N S.

B a n ks.
M e trop olis If
M e tro p o ll’nl!
M t M orrls‘ 1M u tu al If—
N assau If___
N ew A m s te r
N ew Y o r k Co
N ew Y o r k . .
N 'h t & D a y If
19th W a rd if
N o rth A m e r
19 5 " N o rth e r n ___
165 O riental I f . .

Bid
390
155
240
280
195
190
1200
290
400
300
265
172
265

Ask
165
____
295
200
200
.
300
410
270”
182
275

B a n k s.
P a cific If___
P a r k _______
P e o p le ’s Tf-.
P h e n l x ____
P la z a If____
P r o d E x c h 1i
Riverside 11S e a b o a r d ___
S e c o n d ____
S tate If______
34th S tr e e t.
12th W a rd If
23d W a r d lf-

Bid
230
425
300
155
570
160
250
350
700
350
220
450
190

Ask
250
435
165
____
175
260
370
------

U S ta te b a n k s .
E x -d lv ld e n d a n d rig h ts,
* B id an d asked prices; n o sales w ere m a d e o n th is d a y .
i E x -r lg h ts .
$ L ess th a n 100 shares
n S o ld a t prl v ate sale at th is prtc«
h 1st in s ta l’ m t p aid,
t Sale a t S to c k E x ch a n g e o r a t a u c tio n th is w e e k , c E x b e n e ficia l Interest In o re p r o p e rtie s .




June

New York Stock Record—Concluded— Page 2

151907.]

STOCKS--H IG H E S T A N D LO W EST S A L E PRICES,
Saturday
June 8
26
39
1234
23%
12
26
15
17
40

Monday
June 10
*20
*39%
13
24
11
*23
*13
§16%
*36

Tuesday
June 11

Wednesday
June 12

*20
*20
26
26
____ *41
____
4134
13
13% * 12% 13
24
23%
23% 23%
11% * 10% 11% * 10%
26
*23
*23
26
16
*13
*13
16
16% *16% 17% *16%
40
*36
*36% 40

Friday
June 14

U n it R y s I n v ’ t o f San Fran
D o p r e f___________ _______
T S T a b a sh . _ _____________
’ »
D o p r e t f ____________
W h e e lin g & L a ke E r ie ______
D o 1st p r e f _____________
D o 2d p r e f _______________
W isco n sin C en tral___________
D o p r e f __ _____________
Industrial & M iscella n eou s
300 300 *300 305
301 301 *295 305 *295 305
302 305
\ d am s E x p r e s s -- ________
1012 10%
10% 10%
*9% 10%
934 10%
*9% 10% -£*-lU s-C h alm ers____________
10% 10%
32
30% *28
*29
32
*28
32
D o p r e f _____________
*29
*29% 31
28% 30
83% 8434
86% 873?
83% 841s
83% 86%
81% 83% A m a lg a m a te d C o p p e r_______
8534 87
*16% 18 A m e r A g ricu ltu ra l C h em ical
1612 16% §16% 17%
*16% 18
16% 16% *16% 18
*75
85
85
*75
85
D o p r e f. _______________
*75
*75
85
*75
85
*75
85
13%
*13
13% 13%
13% 133S *13% 14 A m e rica n B eet S u g a r_______
13% 13%
13% 1334
*
82 *
82 * _ _ __ 82 *
82 *
D o p r e f _ _____________
82 * ____ 82
5%
534
*6%
*5>4 534
*5%
534 A m e rica n C a n _______________
5%
*5%
538 51»
5%
54
55
54% *54
D o p r e f_________________ _
54
54
54
54
54 '
55334 5334 554
40% 41%
42
4214
40% 40% A m e rica n Car & F o u n d r y ._
40% 41
41% 423g 4034 41%
97% 97%
D o p r e f____ _ . __________
97% 9714
99
98
98
97% 97% *97
97% 97%
3034 31 A m e rica n C o tto n O il_______
31
31
31
31% 31%
31% 31% 531
31% 31%
92
92
*85
92
*85
*85
92
92
D o p r e f___________________
*85
*85
*85
91
*200 220 *200 215 *280 215 *200 215 *200 215 *200 212 A m e rica n E x p re ss ___________
5% 5%
*5%
6
6
*5%
*512 6
*5% 6 A m e rica n Grass T w in e ______
5% 5%
434
434 *4
*4
4%
*4
434
*4
434 A m e rica n H id e & L e a th e r. _
*4%
4*4
*4
*W
21
*18
20
20
20
D o p r e f_______ _______ . . .
*18
19% 19% *18
*18
20
72
7134 *68
*68
68
72
72
71
*68
65
68 A m e rica n Ice S e cu ritie s____
71
9% 10
10
*9% 10
10
10
10
*934 10
*#% 10 A m e rica n L in se e d ___________
*24
26
24
24
*24
26
26
D o p r e f . ____ ___________
*24
*23% 26
*23% 26
56% 57%
5534 56%
5914 5934
5834 5934
5734 59
55% 06% A m e rica n L o c o m o t iv e ______
*101 105
D o p r e f_____________ _____
104% 105 *103 105 *102 104 *102 104 *102 105
*4
* 2% 4
* 2% 3
5
2%
2% A m e rica n M alt C o r p ________
* 2% 3
2% 2%
22
22
2212 22%
22% 22%
22%
22
*21
*21
25
23
*
90 * ___
89
90 * ____ 90 A m e r Sm elters S ec p r e f B . _
88
588
*84
88 *
118% 11934 118% 120% 116% 119
116% 11734 115% 117% 113% 115% A m e r S m e ltin g & R e fin in g .
106 106
D o p r e f . . ____________
10534 106
105% 105% *105 106% *105% 106% 1103% 103%
*195 210 *195 210 *195 210 *195 210 *195 210 *192% 210 A m e rica n SnufT_____________
*98 102
D o p r e f___________________
102 102
*90 1013, *95 10134 *95 10134 *90 10134
*634
*612 7
5634 634
*7
7
7 A m e rica n Steel F o u n d r ie s ..
7%
* 6% 7%
7%
40
*3 512 36
*37
D o p r e f___________________
36
40
36
37
*37
37
37
37
12011121% 120% 121% 120% 120% *120 121
120% 120% 119% 120 A m e rica n Sugar R e fin in g ___
*120 127 *120 127 *120 127 *120 127 *120 127 *120 124
D o p r e f . . ____ _______ __
*105 110 *107 110
108*8 108% *108% 110 Cl04% 105 A m e rica n T e le p h & T e i e g . .
109 110
93
923^ 93
93
93
93% *92% 93%
Z9134 9134 A m e rica n T o b a c c o (n e w ), p f
93
*93
25
25%
25U 25%
25% 25%
2478 25 A m e rica n W o o le n _____ __ _
25% 25%
25% 25%
*90% 90%
90% 90% 5ai
9034 9034 592
D o p r e f________________ .
92
*90% 91%
91
5634 5734
63% 56%
54% 55% d A n a c o n d a C o p p e r . -P a r$ 2 5
55% 5534
57% 58%
55% 57%
7*4 8
*rs4 8
8
7%
7% 8
734 8
*7%
8 (fB atopllas M in ing ._ P a r $ 2 0
*107 112 *106 112 *107 112 *107 112 *107 112 *107 112 T > r o o k ly n U n io n G as_______
*10
*10
12
12
12
12
12
*10
12 -D r u n s w lc k D o c k & C Lmpt
*10
*10
*10
*40
*40
45
*37% 45 B u tte rlck C o . . ____________
45
*40
45
*40
45
45
*39
2234 23
24%
2234 23 /C e n tr a l L e a th e r____________
23
23% *23
*23U 2414
23% 23%
*90
93
93
93
Do
p r e f_______________
*90
*90% 93
*90
*90
93
93
93
3034 29% 30%
30
30%
30
30
29% 30 C olora d o F u el & I r o n ______
30
30% 32
*22% 25
2334 24
*22
24
*22
24 Col & H o ck C oal & Ir o n ____
24l2 24% *24
25
117 119
*118 120
118 118
117% 117% 116% 117 C o n so lid a te d Gas (N . Y . ) . .
118 118
*1634 17%
1&34 1634 *16
1634 *16
17
1634 C o m P r o d u cts R e f i n i n g . . . .
17l2 17%
17
574
74
*72
72
73
72
*72
74
*71
75
*71% 72
63
63*4
64% 65
64 D istillers’ S ecurities C o r p . .
6334 64
63% 6312 63
64% 65%
*125 140 *125 140 *125 140 *125 149 *125 142 *125 149 F ed era l M in ing & S m e ltin g .
*84
86
D o p r e f___________________
*84
86
*84
86
85
85
83
83%
*84% 86
*140 142
140% 140% 113834140 G eneral E le c t r ic ____________
142 142% 140 142% 141 141
*120 130 *120 130 *120 130 *120 130 *120 130 x lI7 % 117% G ra n b y C ons M S & P ______
* 71o 7%
*634 7%
*634 7%
*7
*7
*7
76s T n t M er M arin e s tk t r c t fs
7%
7%
19% 19*2 *19% 29
D o p r e f ________________
*19>2 21
*19% 21
*19% 21
*19*4 21
*13
13%
13%
13% 13% In te rn a tio n a l P a p e r _______
13% 133g 513% 13% * 12% 13% *13
*72
74
Do
p r e f________________
*71
73% *72
73% *72
74
*71
73
*7212 74
*43
*43
*43
*43
* ____ 59 In te rn a tio n a l P o w e r ___ ____
*43
*22
24"
22% 22% In t e m a t S team P u m p ______
*22
24”
22
22”
* 22% 2 8 * * 22% 24
74
*68
*70
*70
75 *
74
68
68
*08
72
75
104^4 6434 M a ck a y C o m p a n ie s___ ____ _
*66
67
67
67
67
66% *66
65% 66
66
65
65%
6638 66%
65
64% 65
*64
64%
65%
66% 66!4
74% 74% *74
74%
74%
74
74 - R a t i o n a l B is c u it ___________
74% *74
*7314 74% *74
D o p r e f _______________
*110 111% *110 111% * 110% 111% *110 115 *110 115 *110 115 J -i
11
11% 511% 11% * 10% 12 N a t E n a m elin g & S ta m p in g
*10
12
10% 10% * 10% 12
82
*79
82
D o p re f_______________ — .
*80
81
*78% 82
*78% 82
*79
*78% 82
6078 61%
62%
60
Z5834 50% N a tio n a l L e a d ............. ............
62
61% *60% 62
60% 61
D o p r e f___________________
.*96% 98% *96
98% *96
98% *96
98%
98
98%
9812 *96
ift
1R3o 1ft
15
15l» *15
15%
15% 15% *1434 15% N ew h ou seM ln es& S P a rJ 1 0 .
104% 104% 10434 105 5105 1 0 5 “ 100 104% 100 103% 100 100% N ew Y o r k A ir B r a k e _______
58
68
68
68
68%
69
*66
69
*66
69 N orth A m e rica n C o ., n e w . .
68
*67
24
24
24% 24%
23
23% S JacIfic M a i l - . .......................
24%
23% 243S 23% 23% *23
9012 90% *91
89% 90%
90
91%
90
90
8934 8934 JL e o p le ’ s G as-L & C (C h ic ).
91%
12% *11
*11
12%
12% *11
12% *11
12% P itts b u r g h C oal C o __________
11% 1134 *11
*5134 52
52
*51
52
53
54
*50
53
*50
*50
54
34
34%
34
33% 34%
3434 35%
34%
34
32% 33% P ressed Steel C ar____________
34
$90
90
90
90% 90% 589
89
88% 88% *88
88
88%
*162 166
162 162 *160 163 5160 160
160 160
158% 15984 P u llm a n C o m p a n y _________
40% 40%
*40
41% *41% 42
*40
43
40
40 T > a llw a y Steel S p rin g ______
40
40
90
90
*90
91
*9014 91
91
89% 89% 591
91 JAi D o p r e f--------------------- „
91
2534 52534 25%
2534 26
25
25% 25% R e p u b lic Iro n & S t e e l_____
26
26%
*2514 26
*82
83% *82
D o p r e f___________ . ___
83
85% 86% 583% 83% 583
8181 82
83%
5634 5634 557
56% *54% 56
55
56
57
56
55% 56 C lo s s -S h e ffie ld Steel & Iro n
D o p r e f_____ ________
*93
97
*93
99
*91 100
*93
97
*93
95
95 O
97
1.'ifRt 140
T en n C oa l, Iro n & R R _____
3634 3712 ({Tennessee C o p p e r .P a r $25
*36% 36% *36
36% 37%
36% 3684
37
37% 37%
*70
*70
74
74
*70
74
*70
74
*70
74
*70
74 T e x a s P a cific L a n d T r u s t . .
*534 6I4
*534 6%
5%
*534 6% I T n ion B a g & P a p e r ----------5%
5734 5734
*58
U
D o p r e f . . . . . . ____
60
60
*58
*57
60
34
34% 34% *33
32% 33% U S Cast I P ip e & F o u n d r ..
§3514 3514 ’ 34% 34%
'33% 33%
82
*81
D o p r e f . _________________
81
82
*81
82
81
*81
81
81
*95 100
*95 100
*96 100
*95 100
*95 100
*95 100 U n ite d States E x p r e ss _____
60
5934 5934 *59
*59
60
60
60
5734 59 LJ S R e a lt y & Im p r o v e m e n t
*58
*59
K34 1634 *15
*14
17
18
*15
18
*14
18 U S R e d u c tio n & R e f i n i n g ..
*15
18
46
45
*44 .48
D o p r e f________________ .
*43
47
45
46
*44
48
*43
48
37
36% 361s
37
37%
*30
35
35 U nited S tates R u b b e r ______
36% 37
35% 36
D o 1st p r e f_______________
9934 9934 100% 100% 100 100% *99 100%
99
99
98% 98%
68
69%
68
D o 2d p r e f_______________
08
*67
68
*661? 681? *65
68
69% 69%
3438 35
32% 33 U nited States S teel__________
33% 34% x32% 33-% 32% 33%
34% 34%
D o p r e f___________________
97% 98%
98% 9834 9838 99%
97% 98%
97% 98
97% &7%
25% 26
261>
26% 26%
26
25% 25%
2519 25% tfUtah C o p p e r____ P a r $10
2-5% 25%
*27
26% 27% *26
28
27% 27%
*25
27U
27% * 2 5 “ 26 V irgin ia -C arolin a C h e m ica l.
D o p r e f___________________
105 105 *103 108 *103 108
104% 104% *103% 108
*10412 108
61% 61% *eo
*60
64
65
60
60 V irgin ia Iron C oal ft C o k e ..
*60
64
*60
65
*275 300 *280 300 *270 300 *270 300 *270 300 *270 300 W T ells F a rgo & C o ________
*80% 81
80% 80%
e s te m U n io n T e le g r a p h .
80% 81
581
801* 801*
79
80
81
*1421 0 144 *142% 144 *142% 144 *1421. 144 *14212 144 *142% 144 W e s tin g h ’ se El & M fg a s s e n .
D o 1st p r e f_______________
*142 165 *142 165 *142% 1-65 * M 2 165 *142 146 *442 146
*20
39
123.J
233S
*10
*24
*13
*16
*30

__

26
42
13%
2334
11%
26
16
17%
40

Thursday
June 13

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

__

__

24
39
13
*23
* 10%
*23
*13
*16%
*36%

24
41%
13
23%
11%
26
16
17%
40

22%
37%
* 12%
23%
* 10%
*23
*13
*16
*36

22%
3734
13%
23%
11%
26
16
17%
40

__

__

__

__

VV

BA N K S
B a n ks.
U n io n E x c H
U S E x ch 11.
W a s h H ’ htslI
W e s t S ld ell.
Y o r k v illc 11.

Bid
220
122%
225
600
400

Ask
240
132%
425

B rook lyn .
B o r o u g h H- B r o a d w a y ll.
B r o o k ly n . .

175
450
------

140

B a a k s.

Bid

B ro o k ly n .
First ............
H o m e B 'nkT
M an u factrs’
M echanics’ 1]
Nlontauk____
N a s s a u ____
N a t C it y ___
N orth Side T
P r o s p e c tP k ’
T e r m in a l..*

375
160
400
315
155
260
305
360
150
140

AND

TR U ST

1413

i
Sales o
Range for Year 1907
On basis of 100-share lots.
the
Week
Shares
Lowest.
Highest.

Ra nje 1or Previous
Year (1906).
Lowest.

Highest.

Apr
Apr
D ec
D ec
Apr
M ar
211/i O rt
23 M ay
44 J ’ly

98 Jan
93ii Ja n
26% J an
53% F e b
2 134 F e b
48i■>F e b
29% F e b
33 Jan
64 J a n

603 §2S0 M ch 14 305 J ’ne 3 5240 J ’ne
9% M ay21
167s J an 5
1,500
16 J ’ly
4334 J a n 3
40 Sep
400
25 M c n l4
781* M ch26 121% J a n 5
92% J ’ly
231.575
253s J a n 8
20 J ’ly
270
15 M ay27
_
90 D e c
85 M a y l3
95 F e b 20
23% J a n 7
20% M ay
700
10% M ay22
75 M ch 5
80 J a n 21
82% O ct
5% M ch 14
7% A p r 11
597
601* A p r 10
1,390
48% M c h 26
45% J a n 14
32% J ’ly
12,700
31 M ch25
500
92% M ch25 103 J a n 12
98% J ’ ly
3,050
27 M ch25
33% F e b 19
28 M ay
90 J a n 21
88 M ch 13
90 D e c
200 M eh25 247 J a n 5 215 ADr
8% J a n 11
210
5% M ch 13
7% M ay
6% J a n 16
4 M ay23
5% N o v
30% J a n 7
16 M a y 22
24 N o v
" 'i o o
35% Jan
65 M ay22
88 J a n 2
510
934
J
’ne
3
19i4
J
a
n
10
1,280
1634 D e c
36 J a n 7
24 M a y 2?
130
35 D e c
53% M ay
7534 F e b 15
8,320
55% M ay27
200 101 M ch25 l l l l , Jan 21
108% D e c
____
2% J ’n e i o
§7% A p r 2
500
____
22 J ’ne i i
40 F e b 21 . . . .
700
9318 J an 7
86 M ch25
92% D e c
30
115,460 104% M ch25 *155 J a n 7 138% M ay
1,900 100 M ch 25 11738 J a n 7 112 D e c
§ 195 M ay29 205 J a n 18 200 J ’ly
100 §95 A p r i 102 J ’n e 7 100 D e c1034 J a n 5
5% M a y 22
934 N o v
170
34 M ch 14
471, J a n 7
40 M ay
600
3,160 114% M ch 14 137% F e b 13 127% M ay
122 M ch 5 131 J a n 2 1281* D ec
852 c l0 4 % J ’n e 14 133 J a n 4 130 " J ’ly
9834 Jan 5
836
86% M ch25
96 J ’l y
24 M c h 26
36% J a n 7
2,210
28 N o v
9038 M ay29 10278 J a n 5 101 J ’ly
1,062
37,665 $53 M ch 14 30234 F e b 16 223% M ay
*7% J *e 4
2,000
S9% M a y i3
105 M ay29 125 M ay 1 105% N o v
14% J a n 4
10 M ay 2 i
13% J ’ly
49ig J a n 3
37% M a y ie
40 A p r
20 M a y 2i
3334 D ec
40 F e b 15
1.320
89 M ch 26 102 F e b 8
9834 D ec
115
5778 J a n 8
27% M a y2 i
40% M ay
7,420
20 M ch 5
2838 A p r 5
800
17 M ay
1,800 110 M ch 15 140% M ch 1 130% A p r
2434 Jan 22
15% M ay 28
303
18% J ’ly
71
J
ne
4
88 J a n 28
225
74% M ay
61 M a y2’> 78 F e b 13
51 Jan
5,284
136 M a y 15 163 J a n 16 138 J an
80 M ch 15
97 J a n 14
91 J ’ly
’ ” §25
1,782 135% M a y 28 163 J a n 22 H 5 6 D e c
100 a;117%J n e 14 152 F e b 13
7 M a y»"
778 M ay 2
19i4 J ’ne 3
24 A p r 25
100
18% J a n 7
11% M a y 2?
16% Sep
350
81 F e b 11
70% M ay22
80 D e c
100
40 M ch 14
5034 J a n 15
48 Sep
41
J
a
n
7
22 J ’n e 13
28 Jan
’ * '2 0 0
81 J a n i 4
68 J nte 13
7& J an
125
75% J a n 24
1,050 *62% M ch 15
__
71 J a n 24
2,600 x63 M c h i 5
731, J ne 3
86% J a n 15
62 M ay
342
l l O i j J ’ne 4 1173g M ch 5 113% J an
..
10% M ay28
15% J an 5
12 M ay
560
79 M c li28
87 F e b 15
82 Sep
49 M c h 25
76% J a n 7
66 M ay
4,325
97 M ay29 103 J a n 5 100% J ne
200
2,700 S14 J n e 4 $2034 A p r 18
98 M ay27 1411, J a n 7 133 J ’ly
5,225
8984 Jan 4
65 M ay-20
87% N o v
460
41% J a n 5
28S4 J ’ne
1,700
21% m ??2 5
85 M ch 14
98% J a n 4
88 J ly
2,575
16% Jan 15
200
11% **ay29
13% M ay
49 M c h 15
6®5S J a n 4
50 J ly
200
57 J a n 10
30 M ch26
43 M ay
4,985
997g J a n 24
86 M ch 26
95 M ay
910
729 150 M c h 14 181% Jan 8 | 180 D e c
5712 J a n 10
39 M ch26
44 M ay
400
99% F e b 15
9734 J ’ly
320
89%
13
41 J a n 7
22% M ay
1,590
22% M ch26
78 M ch25 100 J a n 7
91 M ay
930
42
M
ch
i
4
7734 J a n 7
708
68% J ly
95 M aZ29 107 J a n 11 104% O ct
100
200 130 M c h 26 162 J a n 4 129 Jan
1,400 $34% M ch26 § 53% M ch 1
85 J a n 17
68 M c h 26
60 M ay
8% J a n 15
5% Sep
" 'l O O
5%
13
61 J a n 7
52 O ct
100
50% ^ < * 2 5
491, J a n 5
43% M ay
920
30% ^ 2 5
74 M ch 26
89 J a n 15
83% D e c
300
__
§95 M a y28 §117 J a n 9 109 M ay
5734 J n e H
90% J a n 4
75 A u g
500
12% M ay27
30% Jan 28
24 M ch
100
40 M ay27
68 J a n 7
60 M ch
500
338 jJ ne 3
52% F e b 16
3,220
38 J ’ ly
981* M ay27 109% J a n 7 Xl0434 J ’ly
1,567
78% J a n 7
68 M ch 25
75 M ay
1,350
31% M a y27
503g J a n 7
32% J ’ly
197,750
911, M ch25 10734 Ja n 7
9834 J ’ly
24,084
2,200 524 “ M ch25 $39% M ch 4
3938 J a n 7
2310 M ay29
31 J ’ly
1,115
300 101 “ M c h 25 108 J a n 9 104 J ’ ly
97 J a n 22
38 M ay
300
55 M ch 25
250 M a y 7 300 J ’ ne 3 233 M ch
78 M ay29
85 J a n 10 18384 D e c
706
142 M a y 28 154 J a n 2 148 A u g
5145 A p r 26'5 160 M a y 23 162 N o v

§300 A u g
27sg J a n
67 J a n
118% F e b
34% J a n
102 Jan
35 Jan
89% Jan

200
1,400
800
900
500
50

22% J ’n e l 4
37% J ’ n e 6
11% M ay27
21% M ch25
9% M ch
22 M ay22
13 M ay21
16 M ch 14
36 M ch 14

62 J a n 7
71% J a n 7
1 8 i»J a n 5
381" Jan 7
1634 J a n 7
3734 J a n 5
21 3 jJ a n 10
25% J a n 12
51% J a n 7

50
55
18
361;
16

__

47% Jan
105 Jan
44% J a n
95 J a n
272 A u g
1134 J a n
10 J O
43 J a a
947s S ep
29% J,an
53% Jan
78% Jan
120% J a n
_ __
_
10134 J a n
174 Jan
130 Jan
220 Jan
107 Jan
15% J a n
53% J a n
157 J a n
140 J a n
144% J a n
109 J a s
48 J an
110% J an
300 F e b

__

__
__

__

__ __

__

178 Jan
2134 A p r
70 M ay
497s Jan
107% Jan
83% J an
30% N o v
18134 J an
28 A p r
S534 A p r
74-% Sep
199 J a n
11278 J a n
184 O ct

__ __

__

26% J a n
90 J an
*95 Jan
60 M a y
92 M a y
____
79% D e c
118% O ct
18% J an
88% M ch
9538 J a n
106% Jan
I 6334 J an
107 Jan
51% Jan
103 J a n
18% N o v
62% J a n
645s J a n
105 F e b
270 N o v
6234 J a n
107 J a n
4134 D e c
110% Jan
97% Ja n
113 A p r
J166 N o v
88 O c t
15% J a n
84 J a n
53 J a n
9678 J a n
138% J a n
94i“>J a n
40% J ’ne
84 J ’ne
59% O c t
x ll5 Jan
z87% J a n
50% O ct
113% J a n
58 J a n
117% J a n
93 D eo
305 O ct
94% Jan
176 J a n
188 Jan

COM PANIES— B A N K E R S ’ Q UO TATIO NS.

Ask

A sk
Bid
T ru st Cos.*
N Y OUy.
A s t o r ___ __ 300
500 "
B ankers’ T r 475
440
390
B o w l'g G r’ m 430
160
175 B r o a d w a y T r 150
O i r a e g l e ___ t250
3 3 0 ‘ tk aitra l T r ’ st 1850 2050"
220
235
C o lu m b ia
230
280 * (Com m ercial 220
145
315 IC om m on w ’Ti
350
]E m p i r e ____ 335"
__ 435
165 ;E qu ltableT r
------ 1300
------ !Farm L o & T

_

T ru st C o’ s.
Fidelity_____
F ifth A v T r .
F u lt o n ______
G u a ra n ty T r
G uardian T r
H u d s o n ___
K n lc k ’ V k e r
L a w T I& T r.
L in co ln T r . .
M anhattan .
M e rca n tile . .
M e tro p o lit’ n
M o rto n T r ’ st

Bid
215
276“
480
240
95
1190
230
300

Ask
550
325
510
245
105

...

_

250
315
450
850

----

725

__

5S0

__

T ru st Co’ s
M u t u a l ____
M ut A lll’ n ce
N Y L ife & T r
N ew Y o r k T r
S tan d ard T r
T itle G u & T r
T r Co o f A m
U n io n T ru st
U S M tg & T r
U n it S tates .
V a n N ’denT r
W a sh in g to n
W i n d s o r ___

Bid
120
195
1000
650

__

450
690
1250
450
1200
270
400
195

Ask
130
205

T ru st C o’ s . Bid
B ro o k ly n .
B r o o k ly n T r 425
C itizen s’ ___ 145
670
F latbu sh _ . 250
410
F r a n k lin ___ 310
____ H a m il t o n __ 315
710
H o m e ___ __ 150
1300
J e n k in s ____ 190
470
K in gs C o ___ 475
1230
L I si L & T r . . 300
__ N a s s a u ____ 250
__ P e o p l e 's ___ 3 I 6I4
W lllia m s b ’ g 220
210

_

Ask
450
155
275
320
330
160

___

315
270 ]
_—

----

♦ B id an d asked p rices; n o sales o n th is d a y . {L e s s th a n 100 shares, t E x -rl^ h ts. 6N e w s t o c k . c E x -d lv id e n d an d r ig h ts. tiN ow q u o t e d d o lla rs p e r shar*,
tS a lo a t S to c k E x ch a n g e o r a t a u c tio n th is w e e k . iT r u s t C o . c e r tific a te s . H Banks m a r k e d w ith a p a r a g r a p h (11) are S ta te b a n k s.




New York Stock Exchange— Bond Record, Friday, Weekly and Yearly
O C C U P Y IN G
BONDS
X . Y. STOCK E X C H A N G E
W k k k E n d in g J u n e 14

P r ic e
F r id a y
June H

(J. S . G o v e r n m e n t
XJ S 2a c o n s o l r e g is t e r e d .d l9 3 0
U 3 2s c o n s o l c o u p o n ___ «il9 3 0
U S 3s r e g is t e r e d ............. £1918
■V S Sa c o u p o n ....................fcl918
U S 3s r e g sm all b o n d s ..k l 918
V S Sa o o u sm all b o n d s ..*1 9 1 8
V S 4s r e g is t e r e d ............. /il9 0 7
U 8 4a c o u p o n ....................A1907
U 8 4s r e g iste r e d ......... .. . . 1 9 2 5
TJ S 4 s c o u p o n .......................1925
V S P a n Can 10-30 y r 2 s .fc l9 3 6
P h ilip p in e Is la n d s 4 8.1914 -34
P n b w k s an d im p r e ? 4s 1935
P u b w k s an d im p r e g . . . 193(5

B id
A sk
104 4 1 0 4 4
1 0 5 ‘a Sale
102 103
102 103

W eek’ s
R ange or
L ast Sate

101 4 ..........
i0U s4 1 0 IV*
1004 1014
1 2 8 78 1 2 9 4
1 2 8 4 129 4
*104 1 0 5 4
1 0 9 >2

I’ o rp iirn G o v e r n m e n t
J a p a n ese G o v t 6 s sterl’ g .1 9 1 1
2d series 6 s ........................ 1911
£ loan 4 4 s c t ls fu ll p d . 1925
2d se rie s 4 4 s c tfs fu ll paid.
£ loa n 4s c t fs fu ll p a id . .1931
R e p n b of C u b a 5s e x te n d e b t ..
U S o f M e x ic o a £ g 5s o f 1899
G o ld 4s of 1 9 0 4 .. . ............1954

Im v >
1044
1054
102 4
L 024
107
1044
1014
1004
130
129^4
105 4
111

R an ge
S ince
Jan uary 1

H iqh
A p r ’ 07
1054
M ay’ ll?
J ’ n e ’ 07
J ’ n e ’02
O ct ’ 0
M ay’ 07
100’ ,
M ay’ o7
M ay’ 07
O ct ’ 06
M ay’ 06

99
9 8 7&Sa^c,
9S 7s
984
9 8 4 *ale
984
91*8 Sale
92
91
914
90 4 Sale
904
83 4
83 4 Salt
83 4
102 4
1 0 2 4 102
99
98
99
98
92 .......... 94 M ay’ 07
fiese a r e p r ices 0 n the 0

T
t
i
t
t
t

S t a t e S e c u r it ie s
A laba m a c u r r fu n d 4 s ___ 1920
Dist. o f C olu m b ia 3 -65s___ 1924
L ou isia n a n e w co n s o l 4 s . .1914
N o rth C a rolin a c o n so l 4 s . 1910
6 s ............................................ 1919
S o C a rolin a 4 ‘i s 20 -4 0 ........1933
T e n n n e w settlem en t 3 s ..1 9 1 3
V ir g in ia fu n d d e b t 2 - 3 s .. . 1991
0a d e fe r re d B r o w n B ro s c tfs .

Low H igh
104 4 1 0 5 3 s
104 4 1 0 6 4
1 0 2 4 10234
102 4 104
100*s 1 0 1 4

1004 1 0 1 4
129 130
1294 1304

141
,:69

964
964
874
211 ,s7 4
10 79
2. 9 8 4
6 964
92 4
ano 0/ $0

14- 8 -

....

114 *2 .

954
’W

96
Sale

111
1174
105 4
1004
126
120
95*8
934
264

100*
100%
94*8
924
86
1034
09
95
to &.

M ar’ 02
J ’n e ’06
D e c ’ 04
A p r ’ 07
1001004
M a r’07
126 126
W ar’ ll),
May'O'i
95
96
M ay’ 07
>134 95 34
i5 2 20
2b
28

t U u lr o a d
a C en t See So R y
A labam
laba M idl See A t Coast L in e
A lb a n y & Susa See D el & H ua
A lle g h e n y V a lle y See P en n RB
A lle g & W e s t See Butt R & P
A n n A r b o r 1st g 4 s ..........A1995
A tc li Tdb S F e— G en g 4 s . 1995
R e g is t e r e d .......................... 1995
A d ju stm e n t g 4S............ft.1995
R e g is t e r e d ...................A1995
S tam p ed........................ h 1995
C o n v g 4 s ............................1955
D e b e n tu re s 4 s S eries F .1 9 0 8
s e r ie s G ........................... 1909
S eries H .......................... 1910
S e r ie s I .............. ..............1911
S eries K ........................... 1913
E a st O kla D iv 1st g 4 s . .1 9 2 8
A t l K n o x & N See L & N
A tla n tic C oast 1st g 4 s .M 9 5 2
C h arles & S a v 1st g 7 a ..19 3 6
Sav If' <Sk W 1st gold 6 s .. 1934
1 st gold 5 s .......................1934
A la M id 1st g u g old 5s ..1 9 2 8
B ru n s & W 1st gu g 4 a ..1 9 3 8
L & N c o ll g 4 s ...............o l9 5 2
Stl S p O ca & G g u g 4s ..1 9 1 8
A tla n tic <fc D an v See South Ry
A u stin <fc N W See S ou P a cific
' T>alt & O h io p r io r 1g 3 ‘as. 1925
R e g is te r e d ................. /tl9 2 5
G old 4 s ..............................ft.1948
R e g is t e r e d ................... ft.1948
P it t s J u ne 1 s t g old 6 s . ..1 9 2 2
P J u n & M D i v 1 st g 3 >281925
P L E & W V a S ys re f 481941
S ou tliw D iv 1 st g 3 4 s . . . 1925
R e g is t e r e d ................... /il9 2 5
M on on R iv 1st gu g 5 s . .1919
Cen O hio R 1 s t c g 4 4 s .,1 9 3 0
C l Eor <fc W c o n 1st g 5s 1933
O h io R iv e r KP» 1 st g 5 s .1936
G en era l g old 5 s ............. 1937
P it t s C lev & T o l 1st g 6a 1922
P itts & W est 1st g 4 s . ..1 9 1 7
S tat l s l R y 1st g u g 4 4 s 1943
B a t C re e k ite s See M id i C ent
B eech C reek See N Y C & H
B e lle v & Car See Illin o is Cent
B k lyn <fc M on ta u k .See L o n g 1
B ru n s <te W est See A t l C oast L
B u ffalo N Y & E rie See E rie
B uffalo R & P gen g 5 s . ..1 9 3 7
A l l & W e s t 1 st g 4s g u ,.1 9 9 8
C l & M ali l3 t g u g 5 s ___ 1943
R och & P itts 1st g 6 s .. .1921
C on s ol 1st sr 6 s............. 1922
B u tiaio * S o u th w e s t See E rie
Butt <fc Susa 1st r e f g 4 s .d l9 5 1
Bur C 1 U N
See C R I <fe P
/ lan ada S o u th 1st o s ........ 1908
V^2d 5 s ................................... 1913
R e g i s t e r e d .. . .. ...........1 9 1 3
C arb & Sh a w n See 111 C ent
C arolina C en t See S eab A ir L
C a rtilage & A d See N Y C & H
C e d R I a F & N See B C H 4 A
C en B r a n cn R y See M o P a c
Cent o f G a R R 1st g 5 s ..p l 9 4 5
C on s ol g old 5 s ................... 1945
R e g is t e r e d .......................1945
1st pref in com e g 5 s ___ p l9 4 5
Stam ped ....................................
2a p re i in com e g o s ___ p l9 4 5
S t a m p e d ............. ....................
3a prer in com e g o s ___ p l 9 4 5
S t a m p e d ...................................

82
9 8 4 Sale
974
90 4
89
92
85 >4 Sale
93 4 Sale
99
*99 4

93

........

95 4 Sale
123
91
82
91

98

814
984
87
86
85 4
93 4
99
984
96
934
94
93
95

7
83
9 8 4 179
J ’n e ’ 07 ___
J ’ n e ’ 07
A p r ’ 07
8 6 4 20
9 4 4 184
F e b ’07 . . .
May’ 07
F e b ’ 07
N o v ’ 04
N o v '0 6
M ay’07

8 1 4 91
964102 4
9334 10i»4
87
924
86
86
85 4 92 4
92 4 1 0 8 4
99
99
984 984
96
96

45

9 2 34 9 S 4

954

1 3 2 4 J a n ’ 06
1 1 2 4 J an ’04
114*8 N o v ’05
99 4 M a r’ 06
824
82 4
9 6 34 D e c ’ 06

92®g Sale
9 0 ........
99 4 Salu
90 ........

92*8
92 4
9 2 4 M ay’ 07
99
994
99 4 M ay’07
.20 o e t 'o i
89 M a r ’ 07
......... 87
9:
.......... 92 4
89
89 Sal6
O ct ’ 06
1 0 5 4 F e b ’ 07
101 . . . .
109 A p r ’ 05
110 A p r ’07
10934 i ’l 2
116 JHay’ 06
i ' l l 4 113 4 N o v ’ 06
1 1 9 4 M ar’ 04
110
94 M a r’ 07
92 4 .
100 N o v ’04

......... 1 1 4 4 113 4
97 ......... 103 4
110
.............. 103
124
118 120
1184

M ay’ 07
F e b ’ 07
A p r ’97
A p r ’ 06
M ar’ 07

9 4 4 A p r ’ 07

J -J

102 4 Sale 102
102 4
1024
1 0 2 4 ......... 102 4
100 4 .......... 10034 M ay’ 07

F-A
M-N
m -h
O ct
O ct

102 4 Sale
............

854

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

85
70
59
60

116
102 4
113
1
I
1

M ar’ 07
1024
A p r ’06
M ay’ (l7
M ay’ 07
M ay’07
M ay’ll?
I M ay’07
A p r ’ 07

91

82

A-O 101 103
1014
1014
>04
8 L:U
J -J
80 4 Sale
J -J '102 ........ 103 A p r ’07
M-N
100 A p r ’ 07
105
F-A 1 0 4 " 1 0 4 4 104
104
F-A 104 Sale 104
87 F e b ’ 07
F-A
83 J4 ” 1 " ! 83^4 J ’ n e ’ 07
F -A
J-J
804
814
93 4 M ay’07
J -J ib '2 4 i b T
J -J
9 8 4 ......... 98 34 J’ n e’ 07
95 J ’ n e ’ OO
A-O
J -J
864
864
8 6 4 .—
83 J ’ n e ’07
F -A
7 3% Sale
A- Q
73%
75
68 J ’n e ’ 07
J -J
......... 71
109 M ar’98
J -J
98 M ay’ 06
M-S

89 4

893s
92 4
9S4
98

93 4
92 4
1023s
1014

89
90
92
96
8 7 34 9 0 34
1 ti5 4 105 4
11*6 " 1 1 3 4

112
102

1184
1034

118»4 123 4
894

96*8

100 1 0 2 4
101 105 -j
10034 1 0 0 4

116 116
10241U
9U
90
76
7 44
05
66

M IS C E L L A N E O U S
s t r e e t It s iilw a y
B r o o k ly n R a p T r g 5 s ........1945
1st r e fu n d c o n v a 4 s ___ 2002
B k C it y 1 s t c o n 5 s . 1916.1941
B k y Cotfc S con g u g 5 s .l9 4 1
B k ly n U u E l 1st g 4 - 5 s .l9 5 0
S tam p ed gu a r 4 -5 s ___ 1950
K in g s C o E l 1st g 4 s ___ 1949
S tam p ed gu a r 4 s ..........1949
N a ssa u E le c g u g 4 s ___ 1951
C on n Ry<£ L l s t & r e £ g 4 4 s ’ 51
S tam ped gu ar 4 4 s ......... 1951
D e n C on T r C o 1st g 5 s . ..1 9 3 3
D e t U n ite d 1st c o n g 4 4 s . 1932
H a v a n a E le c c o n s o l g 5 s . 1952
I n t e r -M e t c o ll 4 4 s ............. 1956
I n t e r n a c T r a c c o ll t r 4 s ..1 9 4 9
L o u i* R y Co 1st c o n sr 6 s .. 1930
M a n ila E le c 1st & c o ll 5 s . 1953

93

FOUR

PAGES

BONDS
N. Y . STOCK E X C H A N G E

P r ic e
F r id a y
J u n e 14:

W E E K E N D IN G J U N E 1 4

C e n t o f G a R R —{ C o n )
C hatt D iv p u r m on g 4 s .1951 J-D
M ac <fe N o r D iv 1st g 5 s . 1946 J-J
M id G a <&> A t l D iv 5 s ___ 1947 J-J
M o b ile D iv 1 s t g o s ........ 1946 J-J
Cen R R & B o f G a c o l g 5s 1937 VI-N
C e n t o f N J g e n ’ i g o ld 5 s . 1987 J -J
R e g is t e r e d .................../i.1987 Q -J
A m D o ck & Im p g u 5 s ..1921 J -J
L e & H u d R gen g u g 5s 1920 J -J
L eh & W ilk s B C oal 5 s . . 1912 M-N
Con e x t g u a r 4 4 a ___ .r/1910 Q-M
N Y & L o n g B r gen g 4s 1941 M-S
Cent P a cific ~ See So P a cific Co
C e n tV e rm o n t 1st g u 9 4 s .e l9 2 0 Q -F
Clias & S av s e e A t l C oast L in e
d i e s & O liio g 6s ser A . . /i I 9 0 8 A -0
G old 6s................................o l9 1 1 A -0
1st co n s o l g 5 s ...................1939 M-N
R e g is te r e d ...................... 1939 M-N
G eneral gold 4 4 s . . . . ___ 1992 VI-s
R e g is te r e d ...................... 1992 m - s
C raig V a lle y 1st g o s ___ 1940 J -J
R & A D iv 1st co n g 4 s .. 1989 J -J
2d co n s o l g 4 s .................1989 J -J
W arm S pr V a l 1 s t g 5 s ..1941 M-S
G re e n b rie r R y l s t g u g 4s ’40 M-N
Chic <fc A lt R R r e f g 3 s . . .1949 A-O
R a ilw a y 1st lien 3 4 s . . . 1950 J -J
R e g is te r e d ...................... 1950 J -J
C h ic B u rl& Q— D e n v D 4 s 1922 F-A
Illin o is D iv 3 4 s ...............1949 J -J
R e g is te r e d ...................... 1949 J -J
G old 4 s ............................. 1949 J -J
Io w a D iv s in k fu n d 5 s . . 1919 A-O
S in k in g fu n d 4 s ............. 1919 A-O
N e b ra sk a E x te n sio n 4 s . 1927 M-N
R e g is te r e d ...................... 1927 Vl-N
So u th w e ste rn D iv 4 s ___ 1921 M-S
J o in t b on d s See G rea t N orth
D e b e n tu re 5 s .....................1913 M-N
H an & S t J o s co n so l 6 s . .1911 M-S
Chic<& E 111 r e f <fc im p g 4s 1955 J - J
1st a f cu r 6 s .....................1907 J -D
1st c o n so l s- 6 s ...................1934 A-O
G en eral co n so l 1st 5 s ___ 1937 M-N
R e g is te r e d ...................... 1937 M-N
C h ic
I n d C R y 1st o s . 1936 J -J
C h ica g o & E r ie See E rie
Gliic I n & L o u is v r e f 6 s ...1 9 4 7 J -J
R e fu n d in g g o l d 5 s ___ *..194 7 J -J
L o u is v N A & C h l8 t 6 a .l9 1 0 ; J -J
C h ic M il & S t P te rm g 5s 1914 J -J
G e n e ra l g 4s se rie s A ..e l9 8 9 J - J
-J
R e g is te r e d .....................e l9 8 9
J
G en eral g 3 4 s s eries B .e l9 8 9
C h ic & L S u D iv g 5 a ___ 19 2 1 1J - J
C h ic <fc M o R iv D iv 5 s . ..1 9 2 6 J -J
C liic & P a c D iv 6 s ........... 1910 J -J
C h ic & P W 1st g 5 s ........1 92 11J - J
D a k & G t So g 5 s ............. 1916 J -J
F a r & S ou assu g 6 s ........1924 J -J
H a s t * D D iv 1st 7 s ........1910) J -J
1st o s ................................. 1910 J -J
I & D E x te n 1st 7 s ..........1908 J - J
L a C rosse <fe D 1st 5 s ___ 1919) J - J
M in e ra l P o in t D iv 5 s ___ 1910! J - J
So M in n D iv 1st 6 s ..........1910) J -J
S o u th w e st D iv 1st 6 s ___ 1909 J -J
W is <fe M in n D iv g 5 s ___ 1921 J -J
M il <fc X o 1 s t M L 6 s . ...1 9 1 0 ! J-D
1st c o n s o l 6 s ...................1913 J-D
C h ic & N o r th w co n s 7 s ___ 1915 Q-F
E x te n sio n 4 s ......... 1886-1926 F-A
R e g is te r e d ............1886-1926 F-A
G en eral gold 3 4 s ............. 1987 M-N
R e g is t e r e d .................,»1 9 8 7 Q -F
S in k in g fund 6 s . . .1 879-1929 A O
R e g is te r e d ............1879-1929 A-O
S in k in g fu n d 5 s . ..1 8 7 9 -1 9 2 9 A-O
R e g is te r e d ............1879-1929 A-O
D e b e n tu re 5 s .....................1909 M-N
R e g is te r e d ...................... 1909 M-N
D e b e n tu re 5 s .................... 1921 A-O
R e g is te r e d ...................... 1921 A -0
S in k in g fu n d deb 5 s ........1933 ■Vl-N
R e g is te r e d ...................... 1933 ■Vl-N
N o rth Illin o is 1st 5 s ___ 1910 M-S
O tt C F
St Paul 1st 5s 1909 M-S
W in o n a <fc St P e t 2d 7 s .. 1907 M-N
MU L S & W e st 1st g 6s 1921 M-N
E x t & Im p s fu n d g 5s 1929 F-A
A sh la n d D iv 1st g 6 s ..1 9 2 5 M-S
M ic h D iv 1st g 6 s ..........1924 J -J
I n c o m e s .......................... 1911 M-N
C lue R o c k lsi<fc P a c 6 s ...1 9 1 7 J - J
R e g is te r e d ...................... 1917 J -J
G en eral gold 4 s ................. 1988 J -J
R e g is te r e d ...................... 1988 J -J
R e fu n d in g g 4 s ............... 1934 A-O
C oll tr u s t S e r ie s H 4s . . 1910 M-N
J 4 s ................................... 1912 M-N
M i s ...................................1915 M-N
N 4 s ...................................1916 M-N
O 4 s .................................... 1917 M-N
P 4 s ................................... 1918 M-N
C h ic R I & P a c R R 4 s . .2 0 0 2 M-N
R e g is t e r e d ..................... 2 0 0 2 1M N
C oll tru s t gold 5 s ......... 1913 M -S
Bur C ed R & N o r t h e r n —
Con 1st <fc c o l tr g 5 s ...1 9 3 4 A -0
R e g is te r e d ...................1934 A -0
C R I F & N W l s t g u 5 s . 1921 A-O
M & S t L 1 s t g u g 7 S ..1 9 2 7 J-D

£

R a n ge
Since
J an u ary 1

A s k Low
H ig h
L ow M ig \
93 J ’ n e ’06
1 1 5 4 D e c ’ 05
115 N o v ’ 05
107 ........ 115 4 A u g ’ 05
102 4 M ay’ 07
......... 102
1 0 2 4 108
1 2 3 4 124 123 4
1 2 4 34 24 1 2 3 4 1 2 6 4
J ’ n e ’ 07
122 126
1 2 2 3 s .......... 122
1 0 9 4 ........ 1 0 9 4 A p r ’ 07
1094H 1

........ 100
974 934
100 ...

100 M a y’07
974
984
88

9 9 4 100%
9 7 7s 101

M ay’07

85

1 0 1 4 ......... 1 0 1 4 A p r ’ 07
104 ......... 104 M ay’07
liO
110 110 4 l l o
116 J ’ n e ’06
i '0 0 4 Sale 1 0 0 4
i o o 34
104 M ay’ 06
" I " I i b o " 112 F e b ’ 06
9 7 M ay’ 07
92 4 M ar’07
1 1 3 4 K eb’ 05
9 9 34 F e b ’ 06
7 5 34 M ay’ 07
75*4
66
67
80 4 M ay’ 05
99 4 Sale
994
994
89 4
894
90 Sep ’Ou
........102 4 102*4 102 U
10f.34 . . .
106 M ay’07
9 9 4 100 4 99 4 J ’ ne’ 07
100
100
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100 J ’l y ’ 06
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104 107
110 116
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103 M ay’ 07
126 M ay’'07
11134 May '07
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105 M ay’ o7
105 4 M uy’ 07
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103*8 1 0 3 4
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92 J ’ n e ’07
91
1 ) 5 4 Oct. ’ 05
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112 M ay’07
1 1 0 4 112
1 0 5 4 M ay’ 07
106
111 Sale 111
112
1064 F e b ’o?
lo 5 4
1 3 7 4 J ’ ly ’ 99
1194
109 J ’ ne’ 07
109
106 A u g ’ 04
101»s
182 4 A p r ’06
1 0 8 4 J ’n e ’ 07
1084
103 ......... 102 A p r ’ 07
ICS3* Sale 105 4
10 5 4
104
104 Jan ’ 07
109
110
110
1 0 6 4 F e b ’ 07
101*8
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107
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118% M ay’07
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106
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117 F e b ’ Ob
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101 4 M ay’ 07
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1 1 3 4 M ay’ 07
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1 4 2 4 F e b ’ 02
122 4
128 4 F e b ’06
122 4
100 1 0 3 4 109 Sep ’03
115 4 M a y ’o<
11.7
1 1 6 4 M a r’ 07
1104
100 4
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9 9 4 F e b ’07
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92 4 N o v ’ 06
914
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103 *■>M ay’ 07
.......... 79
80 May'o7
105
1 0 4 4 1 0 7 4 104 4
109 112
1 1 3 4 F e b ’07
110 M ay’ 071
" 8 5 " " 86** 85
85 4
......... 1 1 1 4 111 M ay 07
93 .1 ly ’ 00
109 J ’l y ’ 06
107 4 F e b ’ 06
90% 90 4 Sep ’ 06
103 4 O ct ’ Oti
1 1 0 4 N o v ’ 06
72 4
........! 7 2 ’4 7 2 4
100 Jan ’07
67 J ’ n e ’ 07
72
80 4
8 0 4 ......... 8 0 4
99 D e c ’97

1024 1084
80
85
1044U 3
1L14 1134
110 H O
85
89
111 1 1 4 4

117

B O ^ ii* * — C o n tin u e d on N e x t I’ a s e .

S t r e e t l t n il w a y
M et S t R y g e n c o l t r g 5 s . 1997
R e f g 4 s ............................... 2002
B w a y & 7 th A v 1st e g 5s 1943
102 4 103 >4
Coiifc 9th A v l s t g u g 5 s . 1993
100 1 0 1 4
L e x Av<fe P F i s t g u g 5s 1993
100 1<>8
T h ird A v e R R c o n gu 4s 200 0
104 104
T h ird A v e R y 1st g 5 s . .19 3 7
87
89
S 834 8 8 4 M et W S E l (C h ic) 1st g 4 s . 1938
M il E l R y & L 30-yr g 5 s . 1926
79
86
9 8 4 1 0 2 4 M in n St R y 1st c o n g 5 s . .1919
9 8 34 9 8 4 N O rl Itv & L t g e n 4 4 s -.1 9 3 5
St J o s R y L t H <fc P l s t g o s '37
8 6 4 " 8 6 4 St P a u l C ity Cab c o n g 5 s . 1937
U n d ergrou n d o f L o n 5 s . .. 1908
S3
93
U n ion E l (C h ic) 1st g 5 s ..1 9 4 5
7 2 4 82
U n ited R R s San F r s f 4 3 .1 9 2 7
69
73
U n ited R y s S t L 1st g 4 s. 1934
W C h ic S t 4 0-yr co n g 5 s .1936
100

7 9 34

107

9 -3 g

F-A
A-O
J -D
M-S
M-S
J -J
J -J
F-A
F-A
J-J
J -J
M-N
J-J
J -D
A -0
A-O
J -J
M-N

.....

‘•No price Friday; latest price this week. aDue Jan d Dus Apr e Due May ffDueJ’ne /iDue J’ly ttDue Aug oDae Oct




W eeV s
R a n ge or
L a st Sale

72 4

100

67
80 4

p Due Nov t OpSiou

94

100
8*4
86

New York Bond Record-Continued— Page 2

J u n e 15 1 9 0 7 . J
B O N I> »
K . T . STOC K E X C H A N G E
W e b k E n din g J une 14

tr ic e
bY ida v
J u n e 24

C h ic R o c k 1 & P a c— (C o n )
C h oc O k cfe G g e n g 5a .01919 J -J
C on sol g o ld 5 s ............... 1952 M-N
K e o k <fc D es M 1st 5 s ___ 1923 A-O
C h ic t t L & N O See 111 C ent
C h ic S t L <fe P itts /see P enn Go
C h ic St P M & O co n 6 s . . .1 9 3 0 JC on s 6s r e d u ce d to 3% 8.193u J-D
Cli S t P & M in n l s t g 6 s 1918 M-N
N o r W isco n s in 1st 6s . . .1930 J-.I
S t P & S C ity 1st g 6 s . . .19 1 9 A -0
C h ica g o T e r T ra n s g 4 a ...1 9 4 7 J -J
C ou pon o f f ...................................
C h i c * W e s t ln d g e n g 6 s 9 l 9 3 2 Q-M
C on sol 50 y ea r 4 s .............1952 J . J
C h ic & W A l ic h s e e P e r e M arq
C h oc U & G u lf See C R 1 & P
Cln H A D 2d sold 4 *<28...1 9 3 7 J -J
C in D cfe 1 1st ira g 5 s . ..1 9 4 1 VI-N
C F in d cfe F t W 1 ‘it gu 4s ir.’ 23 M-N
C in 1 <fe W 1 st gu g 4 8 .1 9 5 3 J-J
I n d D e c cfe W 1st g 5 s . . .19 3 5 J -J
1st gu ar gold 5 s ............. 1935 J -J
C I S t L cfe (; See ( J C U & S t t
Cin S & O See G C C St L
C learfield & M ail See B R & P
C lev C in C & s t Li ge n g 4s 1993 J-D
C airo D iv 1st c o ld 4 s ___ 1939 J-J
Cin W <& A1 D iv 1st g 4 s . 1991 J -J
S t L D iv 1st col tr g 4 s . .1 9 9 0 ■M-N
R e g is te r e d ...................... 1990 M-N
Spv cfe Col D iv 1st g 4 s . .1 9 4 0 JI-S
W W Val D iv 1 s t g 4 s . . .1 9 4 0 J -J
C X St L <fe C con so l 6s .. 1920 M-N
1 st gold 4 s............. . ..« 1 9 3 6 Q-P
R e g is t e r e d ............... tel93f y -F
Cin s jc Cl con 1st g 5 s . . l 9 2 i J-J
C C C iV; 1 co n s o l 7 s . . . .. .1 9 1 4 J-D
Con sol sink fund 7 s ___ 1914 J-D
G eneral co n s o l gold 6s. 1934 J-J
R eg istered ...................1934 J-J
In d B1 & W l s t p r e l 4 s .1940 A -0
O Ind cfe W 1st pf 5 s...i< 1 9 3 8 y -J
P e o cfe East 1st con 4 s . ..1 9 4 0 A O
In c o m e 4 s ........................ 199U A pr
C lev & .viarietta s e e P e n n KK
C lev cfe P itts n e t Penn Co
Col M idland 1st g 4 s ......... 1947 J -J
C olorado <fc Son ! at g 4 s . . . 1929 F-A
R e lu n d & e x t 4 ^ 8 ......... 1935 M-N
Couun cfe tir e e n v s c s So R y
Col <te H ock Val See H o ck Vai
C ol <fe T o l See H o c k Y a l
Col C on n cfe T e r m See N & W
Conn cfe P as R iv s 1st g 4 8 .1943
1 >ak & G t So .S W C M J t S t P
I “alias <fe W a co See M K & X
*)ei L a ck & W este rn 7 s . . . 1907 M-S
M o rris & E s se x 1st 7 s . . .1914 M-N
1st c o n s o l gu ar 78........1915 J-D
R e g is te r e d ...................1916 J-D
1st r e f g u e 3 *28........... 2000 J -D
N Y L a ck cfe W 1st O s...192 1 J-J
C on stru otlon 5 s ........... 1923 F A
T erm & im p rov e 4 s ___ 1923 M-N
W a rren 1st r e f g u g 3 % s.200 0 F-A
Del cfe H u d 1st P a D iv 7s. 1917 .VI-S
R e g is te r e d ...................... 1917 M-S
1 0 - y r c o n v d eb 4 s ............1916 J-D
A lb <fc Sus c o n v 3 *28........1946 A -0
Kenscfe Saratoga 1st 7 s . 1921 M-N
D el R iv R R B rid g e See P a R R
D en v * K G r 1st con g 4 s ,1 9 3 0 J -J
C on sol gold 4*28............... 1930 J -J
Im p r o v e m e n t gold 6 s . ..1 9 2 8 J-D
R io G r J u n o 1st gu g 5 s . 1939 J-D
R io st So 1st gold 4 s ___ 1940 J -J
G u a ra n teed .....................1940 J - J
R io G r W e s t 1st g 4 s ___ 1939 J - J
M g e and col tru s t 4 s A .1 9 4 9 A -0
U t a h C e n t l s t g u g 4 s «19 1 7 A -0
D es M oi cfe F t D See M cfe S t L
D es M oi U n R y 1st g o s . . 1917 M-N
D et & M a ck 1st lien g 4 s . 1995; J-D
G old 4 s . . . ______ . . . . . . . . . 1 9 9 5 J-D
D etroit S ou th ern —
O h io S ou D iv 1st g 4 s . ..1 9 4 1 M-S
D ill cfe Iron R a n g e l s t 5 s . . 1937 A-O
R e g is te r e d .......................... 1937 A-O
2d 6s ..................................... 1916 J -J
D ul S h ort L in e See N o r P a c
D ul S o Sh ore cfe A t l g 6 s . .1 9 3 7 J -J
ast o f M in n See S t P M & M
aat T en V a & G a See So R y
E lg in Jolcfe E ast 1st g o s . 1941 M-N
E lm O ort & N o See Leh cfe N Y
K rie 1st e x t gold 4 s ............. 1947 M-N
2d e x t gold 5 s .....................1919 M-S
3d e x t gold 4 % s .................1923 M-S
4til e x t gold 5 s ...................1920 A-O
5th e x t gold 4 s ...................1928 J-D
1 st con sol gold 7 s ............. 1920 M-S
1 s t c o n s o l g fu n d 7 s ........1920 M-S
E rie 1st con g 4s p r io r .. 1996 J -J
R e g is te r e d ...................... 1990 J -J
1st co n s o l gen lien g 4 s .. 1996 J -J
R e g is te r e d ..................... 1996 J -J
P en n c o ll tr g 4 s ............. 1951 F-A
60 -y ea r c o n v 4 s A ..........1953 A-O
do
S erie s B ...1 9 5 3 A-O
Butt N Y A E rie 1st 7 s ..1 9 1 6 J-D
B u ll cfe S W gold 6s ..........1908 J -J
C h ic cfe E rie ls t n o ld 5 s ..1 9 8 2 M-N
C lev cfe M alion V al g 6 s . 1938 J-J
Jeff R R 1st gn g 5 s ___ a l9 0 9 A -0
L o n g D ock co n s o l g 6 a ..1935 A-O
Coal cfe R R la t cu r g u 6 8.1922 M-N
D o ck cfe Im p l a t c u r 6 s ..1 9 1 3 J - J
N 7 4 G reen L g u g 58.1946 M-N

E

W tenfs
R a n g e or
L a st Sale

Bid
A sk 'L o v )
H igh
..................... 109 N o v ’ 06
107 108 111 M ay’ 06
103 ......... [1053s N o v

R ange
Since
J a n u a ry 1

BONDS
N . Y. STO C K E X C H A N G E
W e e k E n d in g J une 14

Low 11 igh

E rie— (C o n )
Y Sus cfe W 1st r e f 5 s .1937
2d gold 4 *28.................... 1937
G en eral gold 5 s ............. 1940
T erm in al 1st gold 5 s . ..1 9 4 3
lie g is $5,000 e a c h ...1 9 4 3
M i d R R o f N J I s t g 6 s .l 9 1 0
W ilk & Ea 1st g u g o s . 1942
rCvcfc Ind 1st con gu sr 6 s .. 1926
E rie cfe P itts See P en n Co
E v a n s cfe T H 1st c o u s 6 s . 1921
1st g e n e ra l g o ld 5 s ..........1942
M t V e r n o n 1 s t gold 6 s . . 1923
S u il Co B ran ch 1st g 5 s .1930
I .'a r g o cfe So See Oh M cfe S t P
I lintcfe P e re M See P ere M ar
Fla C cfe P e m n See Sea A ir L in e
F o rt S t U D C o 1st g 4*28.1941
Ft W & D en C 1st g 6 s . . . . 1921
Ft W cfe R io G r 1st g 4 s . . . 1928
/ ' ai H a r cfe S A See So P a c Co
VT ai H cfe H o f 1882 1st 5 8 .1913
G eorg ia & A la See Sea A L in e
G a Car & N o r See Sea A L in e
G e o rg ia P a cific See So R y
G ila V G cfe N o r See So P a c Co
G o u v cfe O sw egar See N Y Cent
G ra n d R a p & In d See P en n R R
G ra y ’ s P t T erm See S t L S W
G t N o r —C B cfe Q c o ll tr 4s 1921
R e g is te r e d , h .....................1921
G re e n b r ie r R y See C h es cfe O
G u if c f e S ll s t r e f < f e t g 5 s 61952
an cfe St J o See C B <fe Q
o u s a to n ic See S I N H<fe H
H o ck V a l lstcon solg 4*2S .19 99|
R e g is te r e d . .* .....................199 9’
C ol cfe H V 1 s t e x t g 4 s .. 1948
C ol cfe T o l 1st e x 4 s ........1955
H o u s t E cfe W T e x See So P a c
H o u s t & T e x C en See So P a c Co
I liin o is C en tral 1st g 4 s . .1951
1 R e g is te r e d ...................... 1951
1st g o ld 3*28...................... 1951
R e g is te r e d ...................... 1951
E x te n d e d 1st g 3*28........1951
1st gold 3s s t e r lin g ..........1951
C oll T r u s t g o ld 4 s ............1952
R e g is t e r e d ...................... 1952
L N 0 cfe T e x g o ld 4s ...1 9 5 3 '
R e g is te r e d ...................... 1953
C airo B r id g e gold 4 s ___ 1950
I.o m s v D iv & T e r m g3 *28.1953
M id dle D iv r e g 5 s ........... 1921
O m aha D iv la t g 3 s ........1951
S t L o u ie D ivcfcterm g 3s. 1951
R e g is te r e d .......................1951
G o ld 3*28........................ 1951
R e g is t e r e d ...................1951
S p rin g D iv 1st g 3 *28...1 9 5 1
W e ste rn L in e s 1 st g 4 s ..1951
B e lle v cfe Car 1st 68........1923
C arb cfe S haw 1st g 4 s . . .1 9 3 2
C h ic S t L cfe N O g 5 s . . .1951
R e g ia te r e d ...................... 1951
G o ld 3*28.......................... 1951
R e g ia te r e d ...................1951
M em ph D iv 1st g 4 s . . . 1951
S t L S ou la t g u g 4 s ___ 1931
Ind Blcfe W e s t See O C Gcfc St L
In d 111 cfe l a l a t g 4a..........1950
Intcfc G rea t N o r l s t g 6 s. .19 1 9
2d g o ld 5a............................ 1909
3d g o ld 4 s ............................1921
I o w a C en tral la t g o ld 5 a .. 1938
G old 4 a ................................. 1951
J e ffe rs o n R R See E rie
al A & G R See L S cfe M S
an cfe M ic h See T o l cfe O C
K C F t S cfe M See S t L & S F
K O cfe M R <fe B See S t L cfe S F
Kan C cfe P a cific See M K cfe T
K an C ity S o u 1st g o ld 3 a .. 1960
R e g is te r e d .......................... 1950
K e n tu c k y C en t See L cfe N
K eok & D es M o See C 11 I & P
K n o x v ille cfe O hio See So R y
a k e E rie cfe W i s t , g 5 8 ..1 9 3 7
2d g o ld 5 s ........................ 1941
N o rth O hio 1st g u g 5 s ..1 9 4 5
L S h o cfe M ic h S See N Y C en t
Leh V a l N Y 1st g u g 4 * 2 8 .1 9 4 0
R e g is te r e d .......................... 1940
L e h igh V al (P a) c o n s g 4 s . 2003
L eh V T e r R y 1st g u g 5 s .1941
R e g is te r e d ...................... 19 41
L eh V Coal C o la t g u g o s . 1933
L eh & N y 1st g u a r g 4 s . .19 4 5
R e g is te r e d .......................... 1945
E l C cfe N 1st p f 6s ........1914
G old g u a r o s ................... 1914
Leh cfe H u d R See C e n t o f N J
Leh cfe W ilk e s b See C e n t o f N J
L e r o y & C a n ey V a l See M o P
L o n g D o c k See E rie
L o n g I s l ’ d—l 8 t c o n g 5s.ft.1931
1st c o n s o l g o ld 4 s ..........ft.1931
G e n e ra l g o ld 4 s .................1938
F e r r y g o ld 4 *28.................1922
G old 4 s ................................. 1982
U n ifie d g o ld 4 s ................. 1949
D e b e n tu r e g o ld 5 s ........... 1934
G u a r r e f g o ld 4 s ............... 1949
B k ly n cfe M o n t 1st g 6 s ..1 9 1 1
1 s t o s ................................. 1911
N l i B & M B l s t co n g 5s 1935
N Y & R B l s t g 5 s ........1927
N o r S h B 1st c o n g g u 5 s o l9 3 2
L o u is ia n a cfe A r k 1st g 5 s . 1927

126 >4

128

1 2 5 1*

131*4 131*4

129*4 M ay’ 07
93 D e c ’ 03
131*4 F e b ’07
12934 M ar’o4
Lis" 1 1 8 L4 [IIS '-, M ay’ 07
97*4 A p r ’ 07
109*4 M ay’07
109*4
103*4 J ’ n e ’07
9 7% A p r ’ 07
113
102

99*4
........

O ct ’00
J ’ n e’ 07

83 Jan ’ 07
104 V* F e b ’ 07
1 0 ?*2 D ec ’02

88

9734
97
109*4
97%

is o -;
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98

102

105*4

83
83
104*2 105

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98*2
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97*4 A p r ’07
93*4 J ’ n e ’07
97 Jan ’ 07
9 9 34 F e b ’ 05
98 Sep ’ 06
105 Jan ’04
97 *2 M a r’ o7
98*4 A p r ’ 07
109 J ’n e ’ o7
118*2 J a n ’ 0

97 *9 99
98*4 99*2
109 109
118*2 118*2

127

129*4

129*4 132

96 .
104*4
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.

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97
93
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M ay’07

91*4 95
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8884
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1 0 2 * 2 ........ 102*4 M ay’ O
1......... 117
117*2 117*2
117 ......... 12135 jv p r ’07
127 J ’ n e ’05

101*8104*2
117*2 117 ^
121*8 1 2 1 3g

69*4 Sale
8S \ Sale
*91*4

.....

92
60

120*4 125

122*4 122*4
109*2 M ay’O
100 1023s A u g ’ 06
102 F e b ’ 08
1 2 3 * 4 ......... 133 F e b ’ 06
121 ........ 149 A u g’01
96*4 Sale
96
97
93 Sa) 9 93
94*8
'1 3 0 132
133*2 D e c ’ 06
94
100

122*4 122*4
109 111%

94*2109*4
92 110

Sale
104

9334
94
102*8 J a n ’ 07
105*2 F e b ’ 07
109 M a r’ 05
76 D e c ’ 05
89 Jan ’ 05
92=8
92 5g
81 *s 87% F e b ’ 07
93
97 J a n ’ 02

9 2 *4

88

90**

110
92
89

933s 9734
102*8 102*8
104^4 105 *2

91*2 96
87*4 8 7 34

Sep ’ 04
M a r’ 07
A p r ’ 07

84*12 86 O ct ’ 06
109
111 A p r ’ 07
112 >2 F e b ’ 06
112
110*2 113% 110*4
98 .
107*2.
104 .
107*!) .
98 .
127*» .
94

95

81% Sale
.......... 85
7 6 * a .........
......... 70
116% Sale
11334 i ’l s "

111

........

1 0 0 * 4 .........
..........130
108

J a n ’ 07

92
89

92
92*2

111

111*2

11038112
1103411034

11034

107*2 J a n ’ 06
109 A p r ’ 07
103H M ay’07
110*2 O ct ’ 06
100
100
1 2 7 1* 127 **
133 F e b ’ 06
94
94 *^
99% O ct '0 6
80*2
81*2
85 *2 F e b ’ 07
86*2 J ’n e ’ 07
76*2
77*2
72
72
116% 116*8
104*8 F e b ’06
115 M ay’ 07
116*2 Jan ’05
100% M ay’ 07
126 M ay’07
118 Sep ’ 06
L09*8 O ct ’ 05
121 >2 D e c ’ 06

109 109
103% 103%
100
125

M-S
J -D
F A
F-A
M-N
A -0
A-O
A-O
J -J

100

........

86
102%

*d &
©
CO

J -J
F-A

100*8
129*2

i*2 99*2
80
88
85*a 85*2
84
91*2
76 10334
72
87
120*2 120*2
116

119

100*4 101
126 130

105 F e b ’07
61 % O ct ’ 01
86*2 A p r ’ o7
107*4 D e c ’ 00
104 A p r ’ 07
98 D e c ’ 06
116 *2 M ay’ 07
93*2 M a r’ 06

tr ic e
/‘Y idav
J u n e 14

W eek's
R a n g e or
L a st Sa/-e
Low
Hi (I/i
110*2 M ay’07
100*4 D e c ’Or
100 •> F e b ’07
110-% M a) ’ 0

.....

J -J
J -D
J -J

J -J
Q -J

J -J
J -J
A-O
F-A

Low
108

100*2
110% I 10*2
103% 103%
105 *2 105 *2

116 ......... 116
......... 1 0 4 5( 104*2
114
106*4

116 116
101 *2 106%

'1 07
........
8 4 78 85

9 3 *6 Sale

103*4

J ’ne'07
A p r ’ 07
A p r ’05
F e b ’06

105 M ar’ 98
106*2 107
8 4 34 A p r ’ 07:

106*2112
84
87

100

100

M ar’ 07

92*8
93 \
94 3b M ay’O

89*4
88%

103

98%
9 6 *i

99

99

102 *a

103*2 103
iw
103 Nov
9 8 s4 N ov
99 A p r

102

105**

99

99

99

109 *2 Sep ’ 06
107% A p r ’ 07
100
100
95*2 J ’l y '0 6
99*2 J ’ n e’ 06
70 O ct ’ 04
98*2
98*2
98 M ay’ O
983g M ay’ 07
97 M ay’()7
102«4 Jan ’ 07
89 M ay’ 07
123 Alay’ 99
78*2 A p r ’ 00
7 8 84 F e b ’ 07

J -J 106
J -J
J -J 100 ........
J -J 1......... 100
A -0 ' .......... 97
M-S
98*2
A -0
A -0
98
M-N
M-N
J -D
......... 89
J -J
F-A
F-A
80"
J -J
J -J
J -J
j -J
J -J
99
F -A
J-D
M-S
J-D
J-D
J-D
J-D
J -D
98 *2 .
M-S
97 .

100*2 M ay’ 07
97 M a r ’ 07

100*2 1 0 0 4
97
97

J -J
M-N I l l
..........
M-S ' 95*2 9 6 *s
M-S
J-D
. 104
M-S
. 79*2

93 *2 M ay’ 07
112
112
96
96*2
65 M ay’ 07
102*2 102*9
85 F e b ’ 07

93*2 100
111 115*2
95
99%
65
79

70

6 9 7s
70
63 O ct ’ 00

89 M a r’ 07
101 *8 O ct ’ 99
100 N o v ’ OO
100*5, A p r ’ 07
122 D e c ’ 05
97 M a r’ 07
118*4 A p r ’07
11934 M a r’ 04
93*8 M ay’ 04

107% 107%
100 100%

98 102%
98
98
98 H 103%
97
97
10234 102%
91
89
78%

78*4

88%

89

100*2 102
' 9 7 " 97
118 % 118*4

102*2 111
86

85

67%

73

K

L

A -0
A -0

71

J -J
J -J
A-O

1 1 2 * 2 ......... 112*2 112*2
107 Sale 107
107
1 0 9 * 2 ......... 110 A p r ’ O

112% 114
106 *2 107 %
110 110 *,

J -J
J -J
M-N
A-O
A-O
J -J
M-S
M-S
A -0
A -0

10738 10734 107% 1 0 7 3,
106 M ay’ 07
95 O ct ’ 06
112
1 1 6 * 2 113 *8 M ay’ 07
109 *2 O ct ’99
112*2 M ay’ o7
......... 112
95 »8 Sale
9 5 38
95%

10634 10?3*
106 106

102*4 .
99*2 .

113% J a n ’ 06
105*4 Jan ’ Ot

Q -J

112*4 .

112

A p r ’ 07

112

92
102
99*4
9 4%
110
95

92
N o v ’ Oo
O ct ’ 06
A p r ’07
J ’ ne’ 04
J ’ ne'07i

92

100

M a r’ 07

tl

M-S
J-D
M-S
J-D
M-S
M-S
M-S
A-O
M-S
Q -J
M-S

97
104
100*2 .
105 .

113% 113**
112*2 112*2
95% 96*4

114%
99
95 *a
"99*2

i b o " io T %

1 1 O * 4 N o v ’ O0

105 A p r ’ 07
109 N o v ’ 06
103*2 F e b ’ 07

i b s ” 109*4

I O P 4 J ’ n e’ 07
102 F e b ’07
91*2 Jan ’ 07
98*2
99*2
80
80
1 0 0 ^ 100*4
113*4 J ’ n e ’06
95 A p r '07
103 N o v ’ 05
104s4 N o v ’ 05
116*8 116 *t.
100% M ay’ 07
102
102
101% M a y’ 07
100 M ay’07

101*2 106%

i'0‘3 ’4 103*^

....

100
100

100
100

....

105

105

80

87

....

i b i " i 'o T *

....

115

117

G tis a n d E l e c t r ic L ig h t
La c G as L o f S t L 1 st g 5 s.«1 9 1 9
R e f and e x t l a t g 5 s ........1934
M ilw a u k ee G as L 1st 4 a ..1 9 2 7
N Y G E L H & P g 5 s . . .1 9 4 8
P u rch a se m o n e y g 4 a ... 1949
E d E l 111 1 s t c o n v g 5 s ..1 9 1 0
1st c o n s o l gold 5 s ..........1995
N Y cfcQ E l LcfeP I a t c o n g 5 a l 9 3 0
N Y & R ic h G as 1st g 5 s . 1921
P at & P a s G cfe E c o n g 5 s . 1949
P eo G as cfe C 1st c o n g Os. 1943
R e fu n d in g g o ld 5 s ........... 1947
Ch G -L cfe C k e 1st g u g 5s 1937
C on G C o o f Ch l s t g u g '5 s . ’36
M u F u e l G as 1 st g u g 5 s .1947
S y ra cu se L ig h tin g 1st g 5 s .’ 51
T r e n to n G cfe E l 1st g 5 s . .1949
W e s tch e s te r L ig h t ’ g g 58.1950

Q -F 101%102
A -0 ...........1 02
M-N
89
J -D
99*2 i o o ' '
F-A .......... 81
M-S 100*4102
J - J 105 .........
F -A . . . . . . 98*4
M-N
lo o
M-S
A -0 116% 1 1 8 "
M-S ’ 9 9 % .........
J - J 101
J -D
99 102*2
M-N 100 101
J-D ..........104%
M-S
J -D

.....

.....

102

102 %

91*2 91%
98*2 103%
80
84%
99 100 “a
95

99

116*8119*2
100% 103%
100 105 >2
IOC *2 108
100 100

110 M ay’OS
101*2 F e b ’ 07 . . . 1 0 1 % 1 0 2

No prtoo Friday; latest bidivnd asked this week, v Due Jan 6 Due Feb dDue Apt eDue May h, Dae J’ly k Dae Aug 0Due Oct gDueDee t Optien




H njh
] 10 -2

103*^
103t8 103 \
.100 105 *2 105 Hi A p r ’ 07
116 A pi ’06

98*2

H

R ange
S in ce
J a n u a ry 1

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

_____ 103
104 *a M ay’07
104*2 107*8
......... 67*2 68 M ay’ 07
63
73%
122 127
122
125*8 '2 0 116 1 3 9 34
CO
c 0

J -D
M-N
A -O
J -J

102
99%
98 >2
9 8 3j
97

104 *2N ov’ 01
91*2
67 V

M I^ C K L liA IS E O L IK
G n u a n d E l e c t r ic l>ight
A tlanta G L Co l s t g 6 s . ..1 9 4 7
B k ly n U G as 1st c o n g 5 s .1945
Butfaio G as 1st g 5 s ............1947
C on sol G as c o n v deb 6 s ___ 1909
Lon su m O as See P G & C Co
D etroit C ity G as g 6a..........1923
D e t G as C o con la t g 5 s . . .19 1 8
K d E U ll B k n See K C o E L & P
K d K IU S eeN Y G & E L H c fe P
G L N Y 1st c o n g 6 s . .1 9 3 2
ttas<& K lee B e r g C o c g 6 s . 1949
b e n E le c t r ic d eb g 3% s 1942
a r R a p G L C o l e t g 6 s . . . 1915
H u d s o n Co G as 1st g 5 s . .19 4 9
Kftu C ity (M o ) G as l s i g 5s 1922
K in g s C o E l L cfe P g 5 a ... 1937
1 j»n rc lia s e m on ey 6 s ..........i 9 97
I lDd K i l l B k n l s t o o n g 4s 1939

131

1415

New York Bond Record

1416
BONDS
M. Y . S T O C K E X C H A N G E
W k s k k n d in s J u n e 14

P r ic e
F rid a y
J u n e 14

W eek ’ s
R an ge or
L a st Sale

SS

R an ge
Since
J an uary 1

B id
Ash L ew
H ig h 1*0 L ow H ig h
114 *g 114% 12 114 % 117
L o u is v & N aah v g e n g 6 a .1930 J-D 112%
G old o s ................................. 1937 M-N 110 ........ 108 M a r ’ 07
108 117*4
99% Sale
U n ified gold 4 s ................. 1940 J -J
09*4 1 0 0 ‘s 10 97 101%
101% J ’l y ’ 06
R e g is t e r e d .......................1940 J - J
107 D e c ’ 05
S i n t fu n d gold(5s............. 1910 A-O
1 105% 109
C oll tr u s t g old 5 s ............. 1931 M-N 105 >2 106H 105 % 105%
9234 92»4
3 9 2 34 98
92 a4
5-20-y r cot t r d eed g 4 s . 1923 A-O
H S ^ jM a y ’ O?
E H & N a sh 1st jr 6 s . . . . 1919. J -D
112 113%
109 M a r’05
L C in tfc L e x g old 4 % s. ..1 9 3 1 m - n 103 . . .
1 2 5 7o M a y ’07
N O tfe M 1st frold 6 s ___ 1930 j - j
121 125%
122 >4 M a r’ C6
N O cte M 2d gold 6 s ........1930 j - j
1 0 7 ^ A n g ’ 06
P e n sa co la D iv g o l d 6 s ..,1 9 2 0 M-S
117 M ay’07
i Y ? " 120 "
S t L D iv 1st gold 6 s ........1921 «J-S
7 2 ^ F e b ’ 07 —
2d g old 3 s........................ 1980 M-S
72% 72%
116 J ’l y ’06
A t l K n o x & N o r 1st g 58194^ J -D
108^2 J a n ’ Oti
H e n d e r B d g e 1st a l g 6 s .l9 3 1 M-S
« 5 J ’ n e’ 07
9 1 1a ........
K e n t u c k y C en t gold 4 s ..1 9 8 7 J - J
95
97
108 J ’ l y ’ 06
L & N <fe M & M i s t g 4 % s l9 4 5 M-S
8 8 " 89*
8 7 1o A p r ,0 _
Ltfe N -S ou th M Joint 4 s .1952 J - J
80
92
H S ^ M a r’O
N F la tfe S 1st g u g 5 s . . .19 3 7 F-A
113*2 113*2
N tfcC B d g e g e n gu g 4 % a 1945 J - J
jll2 J a n ’ 07
112 112
P e n s tfe A t l 1 s t g n g 6 s ..1 9 2 1 F -A
111 M ay’ 07
109*» 111
S tfe N A la c o n g n g 5 s .. 1936 F-A
97 M ay’ 06
h & J e ff B d ge C o g u g 4 s .. 1945 M-S'
L N A & C h See C I & L
ahon C oal See 1> S & M 8
98
97% 98*4 98
an h atta n R y oon .sol4 s.1 9 9 0 A -0
97*2 100*8
104 A p r ’05
R e g is t e r e d ...................1990 A-O
lO S ^ J ’n e ’ 07
100*4 i ‘03*^
M e tro p o l E l 1st g 6 s ___ 1908 J -J i < « %
M c K ’ p t & B V See N Y C en t
M e tro p o lita n El See M an R y
7 9 ^ 8 0 ‘s 30
80
77
86
M e x C en t c o n s o l gold 4 s . .1 9 1 1 J - J
20
21
21
21
19*2 273.
1 s t c o n s o l In com e g 3 s .a l9 3 9 J ’ ly
15
16
15 J ’n e ’ 07
14
21
2 d c o n so l in c o m e g 3 s ..a l 9 3 9 -r iy
E q u ip <fc c o ll g old o s ........1919 A-O
9 0 ca J ’ly ’ 01
M s x I n t e r n a l 1st co n g 4 s . 1977 M-S
105 May*00
M e x N o rth 1st goid 6s___ 1910 J -D
M ic h C en t See N Y C en t
M id o t N J See K n e
M i l L S & W See Ohio<fe N \V
M il tfe N o rth See C h M & S t P
J M a r’07
130 130
M in n <fe St L 1st g o ld 7 s .. 1927 J-D
> A p r ’ 07
105 105
I o w a E x 1st gold 7 s ........1906 J-D
i J a n ’ 07
118 118*2
P a c ific E x 1 s t g o ld 6 s . . . 19511 A.-OI
113^>i M a r ’ 05
S ou th W e s t E x 1 st g 7 s .1910 J -D
1 0 9 1! 1 0 » M ay’ 07
1 st c o n s o l gold 5 s ............. 1934 M-N
105 >2 110*2
90
84
9338 F e b *07
92
94
1 st an d r e fu n d g old 4 s . .1 9 4 9 M-S
96
97 A p r ’ 06
33es M <& F t D 1 s t g u 4 s ... ’ 35 J -J
Minn<fe S t L g u S e e B C B A S
8 7 is .
96 A p r ’ 07
96
99
M S t P & S S M c o n g 4 i n t g u '3 4 J - J
103 N o v ’ 01
M S S M & A 1 s t g 4 in t g u 1926 J - J
M in n U n See S t P M & M
95
8ale
94»4
95 ^
M o K a n & T e x 1st g 4 s . . .19901 J-D
943g 9 8 s4
84*4 Sale
80
88
84^8
84®e
2d g o ld 4 s .......................... <fi9 d o J?-A
103
102 105
1 s t e x t g old o s ...................1 9 4 4 M-W 103 Sale 102
8 0 ^ 81 M ar’ 07
81
1 st & r e fu n d 4 s .................2 0 0 4 iM-&
86
87 Sale
83
86^2
87
G en s f 4 % s .....................193 6
88 *8
84 M ay’07
82
S t I , D iv 1 st r e f g 4 s . . . .2 0 0 1
87
1 0 4 ^ J a n ’ 07
D a l <fc W a 1st g n g o s . . .1 9 4 0
*04*2 104*2
O f) '- A p r ’07
.......... 96
K a n C tfe P a c 1 s t g 4 s . ..1 9 9 0
95*2 95*3
____
107
1
0
6
^
M
ay’
07
M o K tfe K. 1st g u g 5 s . . .1 9 4 2
H 06 >2 112
103 105
1 0 4 M ay’ 07
M K & O k 1st g u 5 s ........ 1942
104*4 107*4
103 ____ m s
10414
M K tfc T o f T 1s t g u g 5 s .l9 4 2
102 106*2
101 __ W>4 M a i’ 07
S h erS h tfc S o l s t g u g 5 s . l 9 4 3
fa 0 4 104
►............1 0 4 * 2 103>2M a>’ (j7
T e x tfe O kla 1 s t g u g o s . . . 1943
103*2 107
115 *n......... 153a 115s 18-*,11538 120
M o P a cific 1st c o n g 6s . ..1 9 2 0
101 Sale
6f(l 00 *8105
T r u s t s o ld 5s s ta m p e d .a l9 1 7
1 0 7 ^ F e b ’ 06
R e g is t e r e d ...................a l 9 l 7
i o i " io 2 M
101“ T o r
1 s t c o ll g o ld 5a...................1 9 2 0
89*2 A p r ’07
87H
80
90
4 0 -y e a r g o id loa n 4a____ 19 4 if
96^, 971a 9 7 * s M » y ’ 07
97% 98
3d 7 s e x t d a t 4 % ............... 1938
.......... 92
92 M ay’ 07
G en t H r R y 1st g u g 4S .191 9
92
9 6 34
_____ 92
92 A p r ’ 07
C on B ra n ch U P l s t g 4 s . 1948
92
92*2
S10 M a r’fti
L e r o y & O V A L l s t g 5 s 1926
lO l^ s 101**4
i o i ‘4
P a o R o f M o 1st e x g 4 s . 1938
I tfH M a r’07
l i f t 117 K,
2d e x te n d e d g o id 5 a . . . 1931“
i l o U Said
S t L I r M & S g e n eon g 5 a l9 3 '
109 % 114
G e n co n stam p g td g 5s 193:
109*2110*4
8 4 ^ 2 S afe
84*3
S4>2
U n ifie d & r e t gold 4 s . .192!
£0
88%
8 8 ____
90 M ay’ O
R i v <fe G D iv 1st g '4 s ..l9 3 S M -J *
85
92*2
107*2 A p r
V e r d i V I <fe W 1st g 5s_192 £ftV S
98 D e c ’OB
M o b J tfe K C 1 st c o n s g 5 8 .1 9 5 3 J - J I I " “ ' a s '
i¥i"*i i2 4 *
M o b & O h io n e w g old 6 s .. 1927 J -D 120 ___ H23>4M».y’07
122 D e c ’ 06
1 st e x te n s io n g o ld 6 s ..A 1 9 2 7 Q -J
M ay’ 07
G e n e r a l g o ld 4 a ................. 193 8 T&- S
84 % 94
08*2 MayH)7
M o n tg o m D iv 1 s t g 5 s . .1 9 4 7 F -A 105 . .
108% 108%
92*2 A a g ’ 06
S t L <fe C a iro c o ll g 4 s ..«1 9 3 ft - 9
[101 N o v ’ 04
G u a ra n teed g 4 s ............1931
-J
M & O c o ll 48 See Sou th ern
M oh a w k & M a i t e i f t C & H
B tonon gahela R i v See B tfe O
M on t C en t See S t P M <fe M
M o rg a n ’ s L a t*> T t o S P C o
M orris tfe E s se x See D e l L & W
117 .
117 M ay’ 07
116 1 1 7 V
A J a s h C h at & S t L 1 s t 7 s .l9 " "
111*4 .
1 1 1 34 M ay’ 07
[ill% ll«
I * 1 s t const) 1 g o ld 5 a..........19
114V
116*3 M ay’ 07
J a s p e r B ra n ch 1 st g 6 s ..1 9 l_ ,
l l B ^ 116*2
M c M M W 4 A 1 1 s t 6 s . .19171
117*4 M a r ’05
113 J ’ly ’ 04
T & P B r a n ch 1st 6 s . . ..1 9 1 7
N ash F lo r & S h ef See L & N
102 ........ 102*4 J a n ’07 . . . . r02*4 102*4
N a t o f M e x p r io r H en 4 % s .l 9 2 4
1st c o n s o l 4 s ........ ............. 1951
_____ 82*2
82*a
82*a
‘ 82
87%
N e w H & D See S Y N H & f l
N J J u n e R R See N Y C en t
N e w & C in B d g e See L o u & N
N Otfc N E p r io r lie n g 6s p l 9 1 5 A -O
.
N Y BK ln & Mam B c h See L I
92*4
9 2 ^ 10S 90
N Y C e n t * H R iv g 3 % s .l9 9 T
94%
92* b Sale
R e g is te r e d ____________ 19 9 7
93 M ay’ 07
92% 93
93
U4H SaJe
94 *«
94*8
D e h e n g 4 s ........................ 1 9 ?
99
83
84
83
83
82% 88%.
L a k e S h ore c o l l g 3 % s . . . l 9 '
8 3 >2 A p r T)7
R e g is t e r e d .......................19
81*4 87
84*2 M ay’ 07
83
83%
M ic h C e n t eo ll g 3 % s ___ I f
_____ 82
R e g is t e r e d ......................1
J a n ’ (J7
*9 102
B e e c h C reek 1 s t g u g 4 s . 19
“
F e b '0 7
102 102%.
R e g is t e r e d ____ _______ 1 9
Mar*04
- .1 0 2
2 d g u g o ld 5 s _________ I9'c
B e e c h C r E x t l s t g :>% s£>l!>5ilA-0

.....

111‘8...

M

.... .

__

00•„ 101
101*2 102

lioi" ioi«4

10>4 110‘s
09% 109*2
’0a

84*4

Continued—Page 3

JJO SD S
N. Y. STOC K E X C H A N G E
W e e k e n d in g J une 14

[V o l .

P r ic e
F r id a y
J u n e 14

N Y C en t & H Ii— (C o n tin u ed
C art <fc A d 1 s t g n g 4 s . . .1981 J-D
fiou v ife O sw e 1st g u g o s 1942 J-D
M oh & M ai 1st g n g 4 s ..1991 JI-S
N J J u n o R g u 1st 4 s . . .1 9 8 6 F-A
N Y & H arlem g 3 % s ...2 0 0 0 M-N
N Y tfe N o r t h 1 s t g 5 s . ..1 9 2 7 A -O
N Y & Pn l s t c o n g u g 4 s 1993 A -O
N o r & M o n t l s t g u g 5 s .1916 A O
i'litp C reek r e g g u a r 6 s . 1932 J-D
R W <& O c o n ls te x tS s .A .1 9 2 2 A -O
O sw e & R 2d g u g 5 s ...e l9 1 5 F -A
R W i O T B 1st g u g o s . 1918 M-N
Kutlanri 1st co n g 4 % s ..l9 4 1 J - J
Osr&LCham 1st g u 4 s g l9 4 9 J -J
R u t-C anad ls t f r u g 4 s . l 9 4 9 J -J
St L a w <fc A d ir l s t g 5 s . 1J96 J -J
2d so ld 6 s ........................ 1996 A-O
U tic a cfe B lk R i v g u g 4 s .l 9 2 2 J - J
LnJte S h ore g o ld 3 % s .. .. l 9 9 7 J-D
R e g is t e r e d ...................1997 J-D
D e b e n tu re g 4 s ............. 1928 M-S
25-year g 48 ...................1931 M-N
K a A <fe G R 1st g u c 5 s . 1938 J -J
M ajion C’l R R 1 s t 5 s . .1 9 3 4 J - J
P itts <fc L E rie 2d g 5 s .a l9 2 8 A-O
P itts McK<fe Y l s t g u 6S.1932 J -J
2d g u a r 6 s ........................ 1934 J - J
M c K e e s & B V 1st g 6s 1918 J - J
M ic h C en t 1 s t c o n s o l 6 s .1909 M-S
5 s .........................................1931 M-S
R e g is t e r e d ...................1931 Q-M
4 s .........................................1940 J -J
R e g is t e r e d ...................1940 J - J
J L & S l s t g 3 % s ............1951 M -S
l s t g 3*28 ............................1952 M-N
B a t C & S tu r 1 s t g u g 3 s . 1989 J -D
N Y C h ic & S t L 1st g 4s 1937 A-O
R e g is t e r e d ...................... 1937 A-O
W e s t S h o r e 1 s t 4s g u . .. 2 3 6 i J -J
R e g is t e r e d ...................... 2361 J - J
N Y & G r e e n w L a k e See E rie
N Y & H a r See N Y C & H ud
N Y L a c k & W See D L & W
S Y L E & W
S ee E r ie
N Y & L o n g B r See C e n t o f N J
N e w Y o rk N e w H a v & H a rt—
H o u s a to n ic R c o n g S S ..1937 M-N
N H & D e r b y c o n c y 5 s .1918 M-N
N Y & N o rth See K Y C i i s H
N Y 0 & W r e f l s t g 4s...</1992 M-S
R e g is $ 5 ,0 0 0 o n ly ..........a l9 9 2 M-S
N Y & P u t See N Y C <fc H
N Y & R B See L o n g Isla n d
N Y S& W
See E rie
N Y T e x & M See 80 P a c Co
N o r & S o u th 1 s t g 5 s ___ ..1 9 4 1 M-N
N o r f & W e s t g e n g 6 s........1931 M-N
I m p r o v e m ’t <fc e x t g 6 s . . 1934 F-A
N e w R iv e r 1st g 6 s ........1932 A-O
N <fc W R y 1 s t c o n g 4 s . 1996 A-O
R e g is t e r e d ...................... 1996 A -O
D iv ’l 1 s t 1 & g e n g 4 s .. . 1944 J - J
P o c a h C & C jo in t 4 s . .1 0 4 1 J -D
C C <fc T 1 s t g u g 5 s ......... 1922 J - J
S c io V & N E 1 st gu g 4s 1989 M-N
N o rth I llin o is See C h i & N W
N o r t h O h io See L E r ie <fc W
N o r P a o —P r io r iie n g 4 s . .1 9 9 7
R e g is t e r e d ............. .........1997
G en eral lie n g o ld 3 s ___ a.2047 Q -F
R e g is t e r e d ...................<*2047
S t P a u i-D a l D iv g 4 s ___ 1996
D u l S h o rt L 1st g u 5 8 ..1 9 1 6 M -S
C B & Q c e ll t r 4a See G t N o r
S t P & N P ge n g 6 s . . ..1 9 2 3 F-A
R e g is te r e d c e r tiflc ’ s .. l 9 2 3 Q F
S t P a u l <fc D u l 1st 5 s . . ..1 9 3 1 F -A
2d 5 8 ..................................1917 A -O
1 s t c o n a o l g o ld 4 s ..........1968 J -D
W a s h C e n t 1st g 4 s ..........1948
N o r P a c T e r C o 1 s t g 6 s .. 1933
N o r R y C al See So P a c
N o r W is See C S t P M & O
N o r <& M o n t See N Y C en t
In d & W See C O C & S t X
h io R i v R R See Balt & O
O re & C al See S o P a c C o
O re R R & N a v See U n P a o
Or® S h ort l i n e See U n P a c
O s w e g o & R o m e See N Y C
O C F & S t P See C & N W
¥ > a c C oa st C o 1 s t g 5 s . ...1 9 4 6 J -D
X 1a o o f M is s o u r i See M o P a c
P a n a m a 1st s fu n d g 4 ‘28..1 9 1 7 A-O
P e n n R R 1 s t r e a l eat g 4a. 1923 M-N
C on sol g o ld 5 s ...... ............ 1919 M-S
C on sol £cold4s...................1943 M-NC o n v e r tib le g 3 % s ........... 1912 M-N
C o n v e r tib le g 3 % s ........... 1915 J-D
A lle g V a i g e n g u g 4 s . ..1 9 4 2 M-S.
D R R R & B g e 1st g u 4a g - ’ 36 F -A
Pial& B aU fc W 1st g 4 s . .1 9 4 3 Ttt-N
S od B a y
1 s t g 5 a ...1 9 2 4 J - J
Sun«fe L e w is 1 s t g 4 s . . . 1936 J - J
B i V J R R «fe Can g en 48.1944 M-S
P e n n Co— G u a r 1st g 4 % s .l 9 2 1 J - J
R e g is t e r e d ...................... 1921 J - J
G uar 3 %s c o ll tru s t r e g . 1937 M-S
G u ar 3 % s c o ll t r ser B ...1 9 4 1 F-A
T r C o e e r tif’ s g u g 3 *28.1 9 1 6 M-N
Gu
t r c t fs C ___ ____ 1942 J -D
G u 3 % s tr c t fs D ............... 1944 J -B
G u a r 15-25 y e a r g 4 s ___ 1931 A-O
C l & M a r 1 s t g u g 4 % s .. 193a M-N
C l & P g e n g u g 4 %a ser A . ’42 J -J
S e rie s B ............................ 1942 A -O
S e rie s C 3 % s ................... 1948 M-N
S e rie s D 3 % s ...................1950 F -A

u

n

ft?

Wee/c’ s
R a n ge or
L a st Sale

Ash. L ow
103®.

97

H ig h

106
93»4 94
94 >2 94
122
98
91*4 92
90 *2
■9 3 " Sajr
90% Sale115
103

y 7 % 97 %
110% 111

110*4 114

O ct ’ 05
M ay’ 07
M ay’ 07
J a n ’06

103 A u g ’ OG
92 .T’n e ’07
92 7a M a r’07

93

H ig h

90%

9 1 s*
92%
9 134
89 %

93l*

9 0 34

96
94
99%
9 0 34

125 \ M a r’06
107% N o v ’ 06
139 J a n ’ 03

.

,

120

L ow

137 N o v ’ 97
110*2 H 0*s
11334 Jan ’ 02

110% .

.

Range
Since
J an uary 1

97 *s M a r’07
105 O ct '02
101 >2 J ’ l y ’06
110 *2 M ay’ 07
101% lJ e c ’ 06

99*4 .

l x x x iv

118*2 .

.
.
.

112

102
112

102

104 D e o ’ 06
118 Vi J ’l y ’ 06
119 J ’n e ’ 06
100s4 Jan ’ 07
106% N o v ’ 00
94% D e c ’ 06
9134 92 % M ay’ 07

100 >4 10 0 34
92 %

94%

..

101

1 0 0 % ie 3 %
101
101
100 % ........ 102*4 M a r’ 07
102% 102%
10384 Sale 10334 1 0 4 78 10 1013* 105
..........io a % 10234 J ’ n e ’O
100% 103*4

113« b .

124

......... 9S
93 ........

96
96 V
101% J ’n e ’06

F e b ’ 06

104 S e p ’ 06
126% 1264:
129
129
1 2 7 14 O ct ’ 06
95
95 7i
100 F e b ’06
89
89
89"
Sale
87
87
109 % F e b ’ 05
96 J ’n e ’ 07

126 % Sale
129 Sale
128
Sale

88
87

95

126
129
26

101%

130
129

95

993*

88 % 96*8

85

91%

96

99%

100% S alt 100*4 101
99 _____ 10034 10034
70
70%
70 Sale
70 M ay’ 07
.......... 71
9 5 34 j an >07
99 . . .

100
98%
69 a4
70
9534

102%
102
74%
71
95*4

122% 123% 12234 J ’ n e ’07
132 J’ l y ’ 99
113 M a r’Oti
106% M av’ 07
98% O ct =06
89
93 M ay’06
91
111
113*8 M ay’ 07

120

122»<

1 0 9 % ..
1 0 6 % ..

106% 108*4
113*8 H 3 »4

O

102 % ____ 102 % J ’n e ’ 07

102% 109

10234 ___ 103

103
101

100% 1C3

M ay’07
M ay’07
S e p ’ 04
A u a ’ 03
94
90 %
O ct ’ 05

103
111%
99 ......... 106
92%
93 Sale
8»34 Sale
89%
97 ......... 104%
9 7 % .........
102 ........ 107 % O ct ’ OK
10*^ J a n ’03

9 0 34 100%
88% 95

110 % Sep
105 ^
1 0 6 34 F e b ’ 07
90% J ’ n e ’ 06
84 M ay’ 07
93% M ay’ 07
89 O ct ’ 06
90% M ar’ 06
97 % J a n ’ 07
110 J a n ’ 05
108*4 A u g ’ 03

1057a1067s 105%
84
94

.
.

82*4 .

8 2 ‘4 .
107% .
105 V

103
103

105 107
105*4 105*4
83

84

93 *4

96

97%

97%

98% D e c ’05
96 J an ’04

M I S C E X .I , 4.N E O U S B O N D S —C o n tin u e d o n N e x t P a g e
C oa l and Iron
C ol F & I C o ge n s 1 g 5 a ..1 9 4 3 F -A
C o n v e r tib le d eb g 5a___ 191
C o l F u e l C o gem g o ld 6 s .19^ I t .
G r R i v Coal & C 1st g 6 s l9 1 9 A - «
O learf B it C oal 1 s t s f 4 s . . . 194 * J -J
C o l l n d u la t& c o ll 5s g u .,1 9 3 4 F -A
C o n tin ’t a lC l s t s f g n 5s g . 1955 F -A
Jetf & C lear C & 1 1st g 5 s . 19a® j - a
Kan<fe H C & C 1 s t s f g 5 s . l 9 5 i L
j -j
P lea s V a l Coal l s t g s f 5 s .l9 2 0 lJ - j
S u n d a y C r e e k C o g 5 s ___ 1944 j - j
T e n n C oal gen 5 s ............... 1$51 j - j
T e n n D iv l s t g 6 s ........o l 9 1 7 A O
B ir m D iv 1st co n s o l 6 s . .1 9 1 7 J - J
' Cah C M C o 1st g u g 6s. 199G J -D
D e Bar C tfe I C o g u g 6s. 1910 F-A
T a l r o n C o a ltfe C o ls t g 5 s .>949 M-S
V i c t o r F u e l 1 st s f 5 a ......... 1933 J - J

T e le g r a p h a n d T e le p h o n e
91 M ay’ 07
91 100% Ajtn T o le p & T e l c o ll t r 4b 1929
Com m C able C o 1st g 4 s . . 2397
87 A p r ’ ©7
87
87
1 0 7 % O ct ’04
M e t T & T 1 s t s f g 5 s ........1918
M ic h . S tate T e le p . 1st 5 s . 1924
102*8 A p r ’ 06
95 A , -’ 02
N Y tfe N J T e l g e n g o s .. 1920
5S*a Sale
58
59 r118 56% 76*4 W est U n io n c o l t r c u r 5 s . 1938
F d and real e s t g 4 % 8 ...1 9 5 0
107*8 1’ e ’ 04
1 0 7 : iy’ 97
M u t U n T e l 8 fu n d 6 s . ..1 9 1 1
..........106
105% 1 i'.'C ’ 06
N o rth w T e l g u f 4% s g . .l 9 3 4
105 ( )ct ’ 0ft
M a n u f a c t u r in g &■ I n d u s t r ia l
F e b ’ 07
78
78%
A m C ot O il e x t 4 % s ............1915
J ’ n e ’07
91% 95
103 Sale
103
103 106% A m H id e tfe L 1st 8 f g 6 s . . l 9 1 9
............1 0 6 * 4
106
104% 106% A m e r I c e S ecu r d eb g 6 s . . 1925
..................... ilt ’ 2
D e c ’ 03
A m S p irits M fg 1st g 6 s .. 1915
F e b ’ 07
100 ..........h (« »
100 100
A m T h rea d 1 st co l tr 4 s . . . 1919
92% Sale
92%
92%
90
98
A in T o b a c co 4 0-yr g 6 s ___ 1944
:)J % F e b ’ 07
.. 93% 9 3 % ..__________________________________
4a............................................ 1951
*U o price Friday; latest bid and asfced. aD ue Jan. b Duo r ob c Due Mar etD ueApr h. Dao J’ly k. Due Aujj o




5

_____

94%

J -J
Q -J
M-N
F -A
M-N
J -J
M-N
M-N
J -J

85

86% May*07
96% J 'n e ’06
104 F e b ’ 07
......... 101*4 97 F e b ’07
105 ** J ’ i y ’ 03
"I"Iib o '
99 % M ay’ 07
.......... 96
96 M ay’O7
102 ....... 104 A p r ’ 07
103 J ’l y ’ 04

Q -F
80 Sale
86
87
M-S
88 Sale
87
88
A-O ......... 84
85 M ay’ 07
M-S
99*4 . . . .
99 *4 M ay’ 07
J -J
8 8 % 89% 88%
88%
A -O 105% Kale 105*4 105%
F -A !
73 Sale
72%
73
D u soct

....

86%
104
98

90
104
9H

99% 103
95 100%
101 104

....

..... --- -

93
85
91%
86
80
S3
102
98
1 88% 98
96 104% 110%
12 71% 79%
7
4

p Dae Nov q Due Deo $ Option <

New York Bond Record— Concluded— Page

J u n e 1 5 1 0 0 7 .]
BON L>S
N. Y. STOCK E X C H A N G K
W eek knimng J une 14

So £

Price
Friday
June 14

Week's
Range or
Last Sale

00
||
0 -S

ASA Low
fe n n Co—( Continued)
Bid
High No
92 A p r ’ 07
E rie & Pitts gugS^as B.1940 J -J
Series C......................... 1940 j - j
9834 A p r ’04
Gr R & I ex 1st gu g 4 1ss 1941 J -J
108 Sep ’06
Pitts F t W & C 1st 7 s ...1912
127=8 Oct ’02
2 (17s............... 1.............. 1912 j ' j
119 J ’ne’06
119 A p r ’ 04
3d 7s............... . ........... /11912 A-O
Pitts
Ash 1st con 5 s .1927 •VI-N 107
116 May’05
6
P C C < fcS tL g U 4 1a s A ...1 9 4 0 A-O 107 *8 Sale 107*8 107*8
109*4 F eb ’07
Series B guar............... 1942 A -0
112*2 J ’ne’05
Series C guar............... 1942 M-N
1003* Mar’07
Series D 4s guar.......... 1945 M-N
91 F e b ’ 07
Series E 3 Hi guar g ___1949 F-A
Series P 4s g u a r .........1953
116 Mar’07
C St L & P 1st con g o s .1932 A-O 115
Pensacola
AU bee L Ja JSash
Peo & East See C 0 C <fc St L
123% Jan ’05
Peo A; P ek Un 1st g 6 s___1921
104*2
10034 D e c’05
2u gold 4*3S.................... i>1921 M r
109 A p r ’02
PereM arq—Cli<fc W M 5s 1921
110 34 May’07
Flint <to P M g 6s..............1920 A-O 110=8
10034 A p r ’07
1st consol gold 5s.........1939 M-N
. P t Huron l>iv 1st g 5 s.1939 A-0
106*2 Sep ’06
SagTus<fc M ls t g u g 4s. 1931
Phil B & W See Penn KB
115 *s Mar’ 06
Phila & Rea<5ing cons 7 s.1911 J- D
Pitts Cm <fc St L See Penn (
Pitts Cleve & T ol See B & O
Pitts Ft W & Ch See Penn <
Pitts AicKees & Y See N Y Cen
Pitts Sli <fc L E 1st g 5 s ...1940
120 Mar’06
1st consol gold 5s............ 1943
98 J ’l y ’97
Pitts & Weat See B <fc O
52
ending Co gen g 4s....... 1997 J-J
9 6 7s
97
9834 97
9534 May’07
JLV R egistered ....................1997 J-J
7
Jersey Cent coll g 4 s ... 1951 A 0
94
9 4 l4
94%
Rensselaer ifc Sar See 1) <fc H
R ich <fe Dun See South R y
Rich * Aleck: See Southern
R io Gr W est See Den & R io Gr
R och & Pitts See B K & P
Rome Wat & Og See N V Cent
Rutland See M Y Cent
ag Tus * H See Pere Marq
tJo<feG r Isl 1st g 4 s ...1947 J-J
90
90 May’07 ....
St L & Cairo See M ob & Ohio
St L & Iron Mount See M P
St L K C <& N See Wabash
8t L M Br See T R li A of St L
St Louis & S an FranciscoGeneral gold 6s............... 1931
123*2 A p r’07
109 J’ne’07
General gold 5s................1931 J-J 109
St L & S F R R cons g 4 s .. ’ 96 J-J
*90** 91 F e b ’07 “ 1*.
102*4 Aug’05
Southw D iv 1st g 5 s ..1947 A-O
18
R efunding g 4 s ............1951 J-J
7978
80
79*3 80
6-year gold notes 4 Hj.. 1908
98 N ov’ 06
S tL M & So Eastgu4*i!gl909 J-D
1 1 6 *2 M a y ’ 07
K C F t S & M c o n g Os..1928 M-N
6
K C F t S & M B y rel g 4s 1936 A-O ......... 79 *s 79*2
7934
KCdfcM R<fc B 1st gu 58.1929
Oz’rk & Ch C 1st gu os g.1913 A-O
99
97 May’07 ....
St Louis So See Illinois Cent
12
91
Sale
St L S W 1st g 4a bd ctfs.1989 M-N
90%
91
80
82 May’07
2d g 4s m e bond ctfs ...p l9 8 9
73 Sale
73
73
7
Consol gold 4s................. 1932 J-D
101% A p r ’07
Gray’s P tT er I s t g u g S s 1947
St Paul & D ul S eeN or Pacili c
.8
St Paul M Je Man 2d (is...1909 A -O 103
1033b 1033s
131 May’ 07
1st consol gold 6s............ 1933
130%
134 D e c ’ 06
.Registered.................... 1933
107=8 J ’n e ’ OJ
R educed to gold 4*as..l933
107 *s
116% A p r’01
R egistered................. 1933
104% 104*4 15
Dakota ext gold Os.........1910 M-N 104%
97
Mont ext 1st gold 4s___ 1937 J-D
H9 J ’ne’07
99
100% Oct ’ 08
R egistered.................... 1937 J-D
E M in n ls t d iv 1st g 5s. .1908 A -0 100 %
100*81’ne’ 07 . . . .
N or D ir 1st gold 4s___ 1948 A-O
M inn Union 1st g 6 s ....1 92 2
116
124 May’05
Mont C 1st gu g os .........1937
127
130 A p r’07
R egistered ....................1937 J-J
138% May’06
1st guar gold 5s...........1937
115% May’ 07
W ill & S F 1st gold 5 s ..1938 J-D 1 0 8 %
S t P & N o r P a c See N or Pac
St P & S’x City See C St P M <fcO
8 A & A Pass 1st gu g 4 s ... 1943 J-J
84 Sale
84
84% 10
8 Fe Pres <fc Pli 1st g 5s. ..1942 M-S
106% 106 *a F e b ’07
S F & N P 1st sink I g 5 s .1919 J -J
110 Oct ’05
Sav F & W est See A tl Coast L
Scioto Val & N E See N or <fc \V
Seaboard A ir Line g 4s ...1 9 5 0 A -0
71% Sale
71
71% 14
Coll tr refund g 6 s .........1911 M-N
96=8 97*s 965a J ’ne’07
A tl-B irm 3 0-y rlst g 4s.el933 M-S
Car Cent 1st con g 4s. ..1949 J.J
96% M ar’06
Fla Cen & Pen 1st g 5 s .1918
107% A ug’ 06
1st land gr ext g 5s ...1 9 3 0 J-J
Consol gold 5s..............1943 J - J
109% M ar’ 05
Ga, & A la R y 1st con 5s 01945
106 Mar’ 07
Ga Car & N o ls t g u g 5 s 1929 J -J
110 J a n ’05
109
tjeab & Roa 1st 5s...........1926
Blier Shr & So See M 1C & T
Bil Sp Oca & U See A tl Coast L
8o Oar <& Ga See Southern
Southern Pacilio Co—
Gold 48 (Cent Pac coll).fcl949 J-D
87 Sale
87
87% 12
R egistered ................. *1949 J-D
84 J ’ne’07
Cent Pac 1st ref gu g 4s 1949 F-A
94
95
22
9 * 78 Sale
R egistered.................... 1949 F-A
933s
93*8
1
M ort guar gold 3 Has.. *1929 J -D '*8*2 % **84** 82% J ’ne’07
Through St L 1st gu 4s ’54 A-0
92
98% F e b ’07
Gal K a r & S A 1st g 6 s ..1910 F-A
103% A p r ’07 ....
M e x & P ac 1st g 6s___1931 M-N 1*0*5*" 10*7*4 106
106
Gila V G & N 1 stg u g 5 s . 1924 M-N
110 106*4 J ’l y ’06
H ous E <fe W T 1st g 58.1933 M-N 102
107% F e b ’05
1st guar 5s red.......... 1933 M-N 100 105 104 A ug’06 ....
H <& T C 1st g 5 b int g u ..l9 3 7 J-J 111*4
111*4 May’07
Consol g 6s int g u a r ...1912 A-O
111*8 J a n ’ 07
Gen gold 48 int gu ar..1921 A - 0 *....... 93
93 J ’ne’07 . . . .
W aco * N W div 1st g 6s ’ 30 M-N
116 l ) e c ’06
A. «fe N W 1st gu g 5s___ 1941 J -J
109% F e b ’06

S

----

----

liange
Since
January 1

BON DS
N. Y. STOCK E X C H A N G E
W eek E nding J une 14

1417

4
Price
JiYidav
June 14

Low High, Southern Pac Co—(Continued)
92
92
Morgan’ s La <fc T 1st 7s. 1918 A -o
1st gold Os.................... 1920 J-J
No of Oat guar g 5 s .........1938 A-O
Ore & Cat 1st guar g 5s. 1927 J -J
So P of A r g u ls t g 6 s...c l9 0 9 J -J
1st guar g 6s . . . . ....... cl910 J -J
So P acific of Cat—
1st g 6s series E & F ...1 9 12 A -0
i 07*^1*08*4*
1st gold 68.................... 1912 A -0
109*4 109*2
1st con guar g 5s.........1937 M-N
S Pac of N M ex l s t g 6 s ..1911 J-J
98 100:><
So Pac Coast 1st gu 4s g. 1937 J -J
91
91
T ex& N O S abD ivlst g6s,1912 M-S
Con gold 5s...................1943 J-J
115 116 *3
b'o Pac R R 1st ref 4s.........1955 J -J
Southern—1st con g 5s___1994 J-J
R egistered.................... 1994 J-J
M ob & Ohio coll tr g 4 s ..1938 M-S
Mem D iv 1st g 4 % -5 s ...1996 J-J
St Louis div 1st g 4s___1951 J-J
U 0 34 115
A la Oen R 1st g 6s .........1918 J-J
109*4 10034
A tl & Danv 1st g 4s....... 1948 J-J
2d 4 s .............................. 1948 J-J
A tl & Yad 1st g guar 48.1949 A-O
Col & Greenv 1st 6s....... 1916 J-J
E T Va & Ga D iv g 5 s.. 1930 J-J
Con 1st gold 5s............ 1966 M-N
E Ten reor lien g os ....... 1938 Nl-S
Ga Midland 1st 3s.......... 1946 A-0
Ga Pac R y 1st g 6s .........1922 J-J
K n ox & Ohio 1st s 6 s...1925 J-J
ilobife B ir prior lien g 5s 1945 J-J
M ortgage gold 4s........ 1945 J-J
94*4 98*4
Rich & Dan con g 6s ___ 1915 J-J
95*4 95*4
Deb 5s stamped............ 1927 A -0
9 2 34 96*2
Rich & Meek 1st g 4 s ... 1948 M-N
So Car & Ga 1st g 5s___ 1919 M-N
Virginia Mid ser C 6 s ...1916 M-S
Series D 4-5s................1921 M-S
Series E 5s.................... 1926 ■ft/I-S
General 5s.................... 1936 M-N
Guar stamped.......... 1936 M-N
\ W O & W 1st cy gu 4 s ..1924 F-A
W est N O 1st con g 6 s ..1914 J -J
90
92%
3 & N A la See L & N
Spok Fails <fc N or l s t g 6s. 1939 J-J
' I 'er A of St L 1st g 4 *28.-1939 A-O
JL 1 st con gold 5 s ....1894-1944 F -A
Gen refund s i g 48.........1953 J -J
St L M B ge Ter gu g 58.1930 A-O
123 *2 123%
107 1 1 0 ‘s T ex & N O See So P ac Co
T ex & Pac 1st gold 5s....... 2000 J-D
91
93
2d gold ino 5s................. 02000 Mar
La D ir B L 1st g 5s....... 1931 J -J
77*4 82%
W Min W >fc N W 1st gu 5s ’30 F -A
T ol & O C 1st g 5s_______ 1935 J-J
W estern D iv 1st g 5a...1935 A-O
116*2119
General gold 5s............... 1935 J-D
78% 82s4
Kan & M 1st gu g 4s___1990 A -0
97
97*4 Tol P & W 1st gold 4 s ....1917 J-J
T ol St L & W pr lien g 3 1as.l925 J-J
50-year gold 4s............... 1950 A -0
90% 95
Tor Ham <fc Bufl 1st g 4s./i,1940 J-D
79% 83
lster & Del 1st con g 5s 1928 J-D
73
79
1st refund g 4s.......... 1952 A-O
1 0 1 % 1 0 l%
U n Pac R R & 1 gr g 4s ...1 94 7 J -J
R egistered.................... 1947 J . J
103 105=8
Ore R y <fc N av con g 4 s .1946 J-D
131 131
Ore Short Line l s t g 6s .. 1922 F-A
1st consoi g 5s..............1946 J-J
107=8 1 0 8 ‘s
Guar refund 4s............ 1929 J-D
R egistered .................1929 J-D
104% 107 *4
Utah <£ N or 1st 7s.........1908 J-J
97% 100%
Gold 5s........................... 1926 J-J
100*8 100 % Uni .N J R li & C C o See Pa R li
Utah Central See R io Gr Wes
Utali<fc N orth See Un Pacific
130 131 >2 U tica & B lack R See N Y Cent
andalia consol g 4 s ___1955 F-A
era C r u z & P ls t g u 4 1s8l934 J - J
112 115*3
V er Val Ind & W See M o P
V irginia Mid
South Ry
V a & Southw’t 1st gu 58.2003 J-J
abash 1st gold 5s....... 1939 M-il
81
87
2d gold 5s................. 1939 F-A
106% 108*4
Debenture series A ....... 1939 J -J
Certificates of deposit___
Series B ......................... 1939 J -J
Certificates of d ep o sit..,.
71
82*t
1st lien equip s f d g 5 s ..1921 M-'S
96*2 100*2
1st lien 50 yr k term 48.1954 J-J
88
89
1st ref and e x t g 4s ___1956 J -J
D e t& O h E xt l s t g 5 s ..1941 J-J
Des M oin Div l s t g 4 s ..1939 J-J
Om D iv 1st g B'las.......... 1941 A-O
T ol & Cli D iv 1st g 4 s ... 1941 M-S
106 107=8
St Chas Bridge 1st g 6s. 1908 A-O
W all Pitts Term 1st g 4s. 1954 J-D
106 106
2d gold 4 s ......................... 1954 J-D
W arren See Del Lac & W est
W ash Cent See N or Pac
Wash O & W See Southern
W est Maryland 1st g 4 s ...1952 A-O
85
90
Gen & con v g 4 s ............ 1952 A-O
84
88
W Va Cent & P 1st g 6s 1911 J-J
93 100*8
W est N Y <& Pa l s t g 5 s.. 1937 J-J
93*8 99
Gen gold 3-4s...................1943 A -0
82% 86
Incom e 5s...................... <41943 Nov
88% 98%
103 105*s W est N o Car See South R y
106 *9 106*4 W heel’g & L E 1st g 5 s ...1926 A-O
W heel D iv 1st gold 5 s ..1928 J -J
E xten <fc Im p gold 5s. ..1930 F-A
R R 1st consol 4s............. 1949 M-S
20-year equip s f 5s ...1 9 2 2 J-J
i*o*9% i i ‘i'%
W ilkes & East See Erie
111 112
92
94 70 W il & Sioux F See St P M & M
Wia Cent 50-yr l s t g e n 4 s. 194 J -J

U

V

W

Bid

Week's
Range or
Last Sale

Range
oillCe
January 1

A sk Low

High
Sep ’06
N ov’ 015
Feb ’11?
M ar’07
1 0 2 38 101
104 A pr ’07
104*4 F e b ’07

Low H i g h

1 2 H s ......... 127

ill

101

........ 116
112

112

112

98
101
103*2 1 0 4
04*4 1043a

107 A p r’07
114*2 I)e c’04
116 May’07
M ar’07
1 0 2 * 1 2 ........... 104
101 h .

1 07

....... 1163«

116 116
103=8 104

107

107 >2 F e b ’07
104 S e p ’06
87*4
90*2
105*2 107
114 N ov’06
89 May’ 07
113*2 May'l;7
89 J ’ne'o,
113 Jan ’06
96 J ’ue’06
, 92 J ’ne’06

1*0*7^ i0 7*i

111 F e b ’07
112*2 May’ 07
115*2 116*2
110-2 M ar’07
68 J a n ’07
U 7 * s A p r’ u7
1173< May’ 07
11538 A p r ’06
96 Oct ’05
1120 s ...... 1 1 2 34 1 12 76
101 ....... . 103 May’07
98 F e b ’05
106 M ar’07
........ 104
112 O c t ’06
108*2 D e c ’00
113 D e c ’05
107*8 May’ 07
107 May’07
96*8 J a n ’ 07
108 *a May’ 07
108*3.

111 111
I 1 2 * 2 ll3 38
115 l l 7 3.t
110*2 114
68
69*4
117*8 119*4
116 118*4

9 0 14 Sale

105*4.......
89
90
1 1 0 's . . . .
91*a 92

87 J4 95
105 *s 11334
88** “ 94 "
113*2116
9

107 ....... .
1 12 in....... .
115*2 Sale
.........i l l
62 ....... .
1 10 34
117*3....... .
103 .........
......... 95

.....

111*2 113
103 103
106

117 J ’l y ’OO
........ 108 J a n ’ 07
111*4 May’ 07
93*2 J a n ’ 07
......... 93
108*2........ 111 D e c ’06

•98*3........
90
92
80
84
86*2 89*4
75 Sale
88*a..........

101 *s Sale
100 >3___
........ 97*a
119*4 Sale
111 *2 Sale
88 Sale
103*«,
1O034 .

113
113
112 IIS '*
92 N ov’06
110 Mar’06
106*2 N ov’04
111 A p r ’07
111 111
111 M.ay’04
102 May’07
100*91*0*2%
9034 97
91*2 May’ 07
86 A p r ’ O'/
80
89
86 *3 May’07
85
87*9
75
75
75
82
95 D e c ’Ob
110 M ar’07
110 110
93 Sep ’06
101
1 0 1 7g
99=8 10 2 %
1 0 1 ^ lO-l-1*
98 101*4
96 J ’ne’07
96
99 *»
11734 126
119*8 119*4
I l l 's I l l 's
111 114
9434
88
88*8 37 88
873» s734
873i Mar’ 07
103 *3 Feb ’07
103 103%
110 J ’ne’06

10278 F e b ’ 06
98 S e p ’ 06

97

110

108 108*9
111*4117
93*2 94

112

113 Sale
......... 90
........ 109

106%

106*2 1 1 1
107 110
94j4 9 6 *«
108*2 109*a

105

110

94*4

........ 110

May’07
10734 108*2
101*4 101*4
95 N o v ’06

106 111*9
107*2 114
99 105%

69*4 May’07
62 *8J’ ne’07
102 M ar’07
93 M ar’06
60 . . .
60*4
61*2
109 103*2 109 A p r ’07
97 N ov’ O't
80 8'eb’07
93 L e e ’ 06
....... m
100^8 ......... 100 May’07
70
70 Sale
69*3
22*i
20
24
21*3

67
70%
57% 75
101 102

108*4 sale
101

62

74 Hi Sale
......... 54
.........106
11434 115
89a4 9034
• 110*2

105
80

84

107
.......

'*6*4** *67*9
107 109
80"

80%

.00 * 102**
69*3 80
20
32%

74
75
20
83%
54 May’07
68
106 ‘s Aug’O*;
114®8 J’ne’o7
111*2 116%
9034 J’ne’07
90
93%
34 Feb’07
34
34
108 Apr’07
110 Deo’06
111*3 Ang’05
83 May’07
102*4 Dec’05

108

85*2

84

86

108

83** '*8*7*%

88

M IS C E L L A N E O U S B O N D S —C on clu d ed .
ftloiiufacturiiiK iSc Industrial
Beth Steel 1st ext a f 6 a ..1926
Cent Leather 20-year g 5s. 1925
Consol T obacco 50-yr g 4s. 1951
D istil Sec Cor con v 1st g 5 s .’ 27
In t Paper Co 1st oon g 6S.1918
Consol con v s f g 5s....... 1935
In t Sp Pump 10-yr conv. 6s ’ 13
K nicker Ice(C liic) 1 st g 5 s .’28
Lackaw Steel 1st g 5s___1923
N a tsta rcli M fg Co l s t g 6s 1920
Nat Starch Co s f deb 5 s ..1925
R e p u b l& S l s t & c o l t r o s .l 934
j U a Leatli Co s f deb g 6 s ..l9 1 3
!U S K e a tty «fcico n v d e b g 5 s ’24
U S Steet Corp— ( coup .d l9 6 3
[ Sf 10-60 yr 5s. { reg ..<11968
Va-Cnr Chem col tr 5s g ..l9 1 2
W estinghouse E & M s f 5s ’ 31

M isce lla n e o u s
Adams E x col tr g 4 s .........1948 M-S
9fi A ug’06
99% 20 98*4 103
99
99% 99
A m SS Co of W V a g 5 s .... 1920 M-N
92%
93
36 91
99
100*4 J ’no’02
F-A
B ’kl’n FerryCo ls t c o n s g 5s ’48 K-A
71% 79
41 Oct ’06
71*4 J ’ ue’07
A-O
Chic J c & S c Yard c o lg 5s. 1915 J - J
82
90
81%
17 80
101 May’07
i o i " i* o * r
F-A
105 J ’ n e ’ 07
103*2 108*2 DetM & M ld g r incom es.. 1911 A-O
70 Sep ’06 . . . .
In t Mercan M arine 4 % s..l9 2 2 A-O
J-J
88 May’07
88
67*4 *7 0 %
92
6 8 * 3 ...........
68
68
100
lu t N avigation 1st 8 1 5s. 1922 F- A ........ 86
J-J
100
85
85*4
10 97*a 106
85 J’ ne’07
Man Bell H & L gen g 4 s ..1940 M-N
A-O
97% Oct ’05
60 F e b ’02
A -0
94% 102
Newp JSfe Ship & D D 5s etl990 J - J
98*4 J’ne’07
90
95
M-N
82
N Y Dock 50-yr 1st g 4 s ..1951 F-A ......... 92
83 May’o7
83
*90 j ’ne’07
J-J
70 A p r ’07
70
Providence Sec deb 4s___1957 M-N ......... 88*4 88 May’07
70
87*4 88S
A-O
96»2
Provident Loan S o c4 % s.l9 2 1 M- S
1 95
97
96*2
99 May'06
10234 106 >4 St JosephStk Yds Ist4 % s.l9 3 0 J-J
M-N
104 J’ne’07
100% Sep ’ 05
J-J
80
96
5 77
St L Ter Cupples Stat’n<fr Prop
',9*4
95\ 4 16 93 *s 99
M-N
Co l s t g 4%s 5-20 y e a r..1917 J-D
95*8
M-N
95
95%
It 94*3 99*2 8 Yuba Wat Co con g 6 s ..1923 J - J
112 j ’l y ’*0*4
A -O
97
97
97 M a y ’ 07
99
Sp Val W at W orks 1st 6 s .1906 M- S
113% J 'ly *00
J.J
93 sa.lt
93
11 93
93*4
97*2 U S Bed & R ef 1st s f g 6s. 1931
*91** *94** 93 % May’07
90 * ’ s r ”
* No price Friday; latest bid and asked this week. nDue Jan t>Due Feb d Due Apr e. Due May 5 Due J’ne h Due J'ly %>Dn* Nor s Ofti»K t&ti*




J-0

A-O

92*2
71
73
82 Sale
105
87 h
99
95
'*9*8** 99 >s
80
•
75
97
104
70's
95 *2 Sale

.....

--

_

OHIOAG-O STOOK EXOHANG-E— Stock Record— Daily, Weekly and Yearly
S T O C K S —H I G H E S T A .E D L O W E S T S A L E P R I C E S
S a tu rd a y
June $

M on d a y
J u n e 10

T u esd a y
J u n e 11

W ednesday
Ju n e 12

T h u r sd a y
J u n e 13

F r id a y
J u n e 14

STOCKS
C H IC A G O S T O C K
EXCHANGE

Sales
o j the
W eek
Shares

M ange lo r Y ear
1907

R anqe to r P r e v io u s
Y ear ( 1 9(>K)

H ig h est

tta.il r o a d s
150 160
♦155
zl51*2l51*< , 152 152
*155 160
152
152
61 150 M ar 19
C liic C ity R y ............... 100
4
*3*2
4
3*2
3*i
4
100
*3*2
*3*2
4
*3*2
4
*3*2
C h ic <fc O ak P a r k ........100
3 *2 M ay 14
13
14
*13
14
*13 *2 15
M ay’ 07
*12*2 13*2 L a s t S a l e 14
D o p r e f................. 100
13 Feb 15
21
21*2
22
25
20*4 21*5
23*2
, 86*6 15 M a r l 4
25*2 C h ica g o S u b w a y ........100
3*2
3 «8
3*8
*3
28:3*2
3*2
3 *2 3*8
'3*4
33,
3*2
3>2 Clue U n ion T r a c t ___ 100
May 15
17
17
17
17
•16
17
185 14 A p r 2;-)
*15
17
17*2 17*2
_ J an 9
D o p r e f ................. 100
16^2 16*2
*
53
53
150 49
50
52
K a n s C ity K y & L t ..1 0 0
Mar2f> 65 Jan 16
♦8*3 7e 84 7g ; 8 3 7a 84
L a s t S a l e 54*2
J ’ n e ’ 07
D o p r e f.................100
83
M a i 25 87 J an 17
......... 24*„ ♦24
24
24 \ •24
2 4 ss
2 5 5a L a s t S a l e 24*2
M ay’ 07 M e tro p o l W 8 E le v .,1 0 0
24
M ar 1 28 Jan 24
•63
65
*63
65 •63
64
64
L a s t S a l e 64
J ’ n e ’ 07
D o p r e f.................100
64 A p r 4 72 Jan 15
*40
40
*33
*34
40
*30
40
40
40
42
42
43
34*2 A p r in 45 A p r 4
N o rth C h ic S t r e e t ___ 100
24
24
22
*23*2 24*4 *23*a 25
23*2 24
24*2 N o rth w e s te r n E le v .,1 0 0
*23*2 24*4 *23*2
22
A p r 2 6 25*c Jan 25
60
60
60
*58
62 *58
*59
•58
65
*55
62
100 5S
62 *
D o p r e f .................100
A p r2 4 64*2 Jan lo|
85
8334 8 3 34 •83*s 85
*83
*83
85
83
108 75
*83*2
85
83*2 S o u th Side E l e v ..........100
M ar 14 00 Jan 4
29
29
29
350 28
29
*28*4 _____ *28*4 29
2 9 '-4
29*8 29*4 *28*2
M ar 25 34 Jan IS
S tr e e ts W S table C L 100
98
98
98
98
98 *95
98
*96
98
*96
35 35
98
D o p r e t .................100
A p r 3 99 M a y l8
* 2 7 * 30
32
34
*30
•27
30
•27
30
27
32
207 20
33
W e s t C h ic s t r e e t ........ 100
M a r l9 35 A p r 3
M is c e l la n e o u s
53a
5-->8 536
53*
5*2
53*
6%
730
6*2
5^8
53b
4 34 Jan 25
53 b
5*8 A m e r ic a n C a n ............. 100
5334 533*
5234
54*9 54*2
54
54
54
54
* 5 2 a4
610 4 8 34 M a r l5
54
54
D o p r e f .. .^ --------100
• 130 ......... * 1 3 0 ......... *1 3 0 * 4 ......... 131 131
* 131
133 133
135
66 129 J a n 7
A m er R a d ia tor.......... 100
*
127
L a s t S a l e 127
J ’n e ’ 06
* ..........126*3 *..........126
' ..........126*2
D o p r e f.................100
122*2 M ar28
*70
•70
73
75
*70
73*8
25 63 M ar20
71*2 71*2 *72
A m e r S h ip o ld g ............100
•102 104
*104
*..........105
, 105
3.0*5** 107 107
105
15 101*2 A p r 10
D o p r e f................. 100
*35
40
♦35
40
*35
40
'S S
40
L a s t S a le
38 A p r ’07 A m e r S traw B o a rd ..........
30 Jan 2
40
40
*37
*38
40
*38
40
*38
39*2 *38
40
60
B ooth (A ) & C o ......... 100
A p i 20
*108 109 t*107 i o n " l i f t 110
*107 109
*107 110
*108
110
50
A p r 20
D o p r e f .................100
*60
62
*50
52
60
60
*50
62
*50
62
*50
52
50 50 M ar 13
Cal <fc C lue Canal & D 100
165
M
a
r’
07
L a s t S a le
. . . . 165 F e b 27
1683g M ay 175
L a s t S a t e 16
M a r’06
16 F eb ] 1 6 1
I*,
*1
1*8 *1
■1
1*8 L a s t S a l e I
M ay’ 07
*1
1*8
1 Jan
1 M ar:
1
*6
6*2 *6
6*2
*6
6*2
‘6
6 *s L a s t S a l e 6*2
J ’ ne'07
D o p r e f.
6 Jan 9
6 N ov! 7
* ..........140
139
139
____ 140
•..........140
135 140
*135
140
2 129 M ar21
136 J ’ly 165
•38
40 *38
40
•38
88
39
*38
40
*38
40
40
30 38 J ’ ne 3
48 *2 D ec
•122
128 122
122 ♦122 124
122 124
122 124
124
124
30 115 *2 Jan 2
101 A p r
•106
107 '106*2 107
107 108
108
135 102*4 M a r l 6
106*2106*2 107 107
108
103 May
•126
1 2 6 34 126 126% 12634 126»4 126*4 12634 126 126
126*8 126*8 D iam on d M a tc h ..........100
113 1 1 9 * 2 J a n 2 4
118 J ’ ne
•52
54 •52
54 *52
54
*50
62
L a st s a l e 53\
M ay’ 07 I llin o is B r ic k ............. 100
41 *2 Sep
4 4 34 F e b 1
L a s t S a le 3 1 ^
N o v !05 K n ic k e r b o c k e r I c e . . . 100
s
o
L a st s a lt
F e b ’ 06
D o p r e l.................100
79*8 F e b , 80 F e b
L a s t S a l e 45
J ’n e ’ 04 M ason ic T e m p l e ...............
45 M a y l5 46 J a n Hi 46 M ay 48 Sep
L a s i $ a l t 2*2
J a n ’ 07 M il & C h ic B r e w ’ g ...........
2*2 Jan 23
2 *2 Jan 23
2*2 F e o
134 M ay
L a s t S a l e ‘i 5
M ay’ 07
D o p r e f ........................
25 F eb 5 27 M a r 4 21 J ’ ne 23 M ar
7 4 ** 74
74
74
74*« 74*8
73*.
74*8 74*s
74*8 74*8
420 73*2 May31 86 J a n 14 62 Maj- 79*2 D e c
7 4 141N ation a l B is c u it ........100
l l l * 8 l l l * t 110*2 H i
111 111
111 11LH, •11034 112*2 11034 1 1 1 ^
145 11(1*2 J ’ nelO 1 17a4 J a n 7 l l S *2 Jan 119 O ct
D o p r e f ................. 100
*71
73*4 *71
7 2 14 *70
72*2 *71
72*4
70
72*4 N ation a l C a r b o n ........100
20 70 A p r l S 84*4 J an 11 78 Jan 95 M ar
72*4 72*4
*111 115
111 115 *111 115
•111 115
L a s t S a l e 110
J’n e ’ 07
D o p r e f .................100
107 A p r 9 120 J a n 17| 112 D ec 122*2 M ar
L a s t S a l e o J4
M ay’ 05 P a g e W o W ire F e n ce
L a s t S a l t 9 9 '2
J ’l y ’ 06 Peop le’ s G as L & C ’ kelOO
93*2 M ay
8 8 ?8 r i y
*40
42
42
42
40
40
*40
42
•40
42
*40
42
106 40 A p r 17 57 Jan 10 50 A u g 63 *2 D eo
Sears R o e b u c k c o m . 100
•90
91
90 7g 9 0 7g
91
91** * 9 0 34 91*2 a;90*s 913*
89*9
90*2
130 8 8 34 A p r i 7 95 Jan 23 92*4 Nov 99 Sep
Do
p r e f .................100
1 0 6 l4 106 *4 106*2 107
1 u6 34 107 z lO o * , 107
1 0 6 j4 107
1 0 6 34 107
S w ift & C o .....................100
906 101 *2 M a rl 5 113*2 Jan 16 101*4 Jan I119 *2 Sep
155 160
150 ____ •150 155
164 164
150
160 T h e Q u ak er O ats C o . 100
5 133 A p r 9 173*aM ay 3 115 M ay 152 -2 Jan
*100
101
100*2 101
100*2 100*2 ........ 101
100 100
100
100
230 9 8 34 M a r l 1 102*4 J a n It}, 99 *2 D ec 10634 Feb
D o p r e f .................100
2
2
*2
2 *«
*2
2 is
2
2
2
2 U n it ’d B o x Bdcfc P CoIOO
500
1 J an 2
* 1 78
2
2 *4 A p r 8
34 D ec
2 34 Jan
10»4 11*4
11
11
1034
1034
11
11*4
11
11
10*4 10%
6 Jan 2 1 2 ^ A p r 8
D o p r e t .................100 2/J 90
5 *4 D ec 17*4 J a n
*24
25
*24
25
*24
25
•23
22*2 23
*23
25
24
W e s te rn S t o n e ............100
145 2 2 *2 J ’ n e l^ 30 F e b 14 28 D e c 42 M ar
M in in #
L a s t S a l e 3 2 '2
J a n ’ 07 B in g h a m C on M in in g 50
32*2 Jan 24 3 2 * 2 J a n 2 4 i 2 9 34 J ’ne 4434 F eb
L a s t S a l e 10
N o v ’ 06 B ia c k M o u n ta in .................
.....................
7“4 J ’ly ! 14-4 M ar
L a s t S a l e 1 6 ‘2
M ay’ 07 D a ly -W e s t ............... . . . >20
16*4 A p r 15 20 Jan 22 14*4 M arj 20»8 N ov
L a s t S a le 4
N o v ’ 06 H u b b a r d - E llio t t ..........
3 *2 J ’l y j 439 O ct
—— --------

Chicago Bond Kecord
liO N D S
C H IC A G O S T O C K E X C H ’ Gfc
W e kk E n din g J u n e 14

P r ic e
F r id a y
J u n e 14

W eek’ s
R a n g e or
L a st S a le

Chicago Banks and Trust Comoanies
R a n ge
fo r yea r
1907

L ow
S i g h No. L ow H ig h
A m e r B is c u it 6 s ................. 1910 F -A
A m e r S tra w b oa rd 1st 6 s . .19 1 1 J - J
i b o " Msur’ 07
100 100
Cass A v e 4 1 a (S t L )—
5 s ...........................................1912 J - J
___ 101
100 *2 M ay’ 07
101*4 102
C h ic B oa ru o f T ra d e 4s ...1 9 2 7 J -D ..........100
100 M ay’ u?
100 100
C h ic C on sol B r & M it 6s ........... J - J
103 A p r ’ 04
C h ic C on sol T r a c 4 *28........ 1939 J -D
61 M ay’07
65
61
C h ic E d is o n —
D e b e n t 6s .......................... 1913 J-J
100*2 N o v ’ 06
1st g old 5 s .......................A1926 A - 0 100 Sale 100
100
100 ” i o l *
C h ic A u d ito r iu m 1st 5 s . ..1 9 2 9 F -A ........ 100
9 6 34 J a n ’ 06
C h ic D o c k Co 1st 4 s ........... 1929 A - 0
.......... 98
O hio N o S h ore E ie c 6s ___ 1912 A -O
87*" F e b ’06
Chicdfc M il K lee R y 5s ... .1 9 1 9 J - J
C lue P n eu m T o o l—
1st 6 s ................................. o l 9 2 1 J -J
80
80
77
81*%
C h ic R o c k I & P a c R R 4 s . 2002 M-N
79 N o v ’04
C olla t T r u s t g 5 s ............. 1913 M -s
80 A p r ’ 94
C om m on w ea lth E le c t —
102
5 s .........................................61943 M-S
101 M ay’ 07
100 10234
90 D e c ’ 06
I llin o is T u n n e l 6s ............. 1928 J -D
K a n s C ity R y & L t C o 5 s. 1913 M-N *96*"
96 J ’n e ’ 07
98*
K m c k e r b ’ c k e r I c e 1st 5 s . 1928 A - 0
96
96
06
L a k e S tr e e t E i­
89 Salo
l a t 5s ................................... 1928 J - J
89
89
89
933*
I n c o m e 5 s .......................... 1925 F e b
16 M ay’ 05
M e tr W S id e E i­
88*2 Sale
l a t 4s ................................... 1938 F A
88*2
88*2
90 78
E x te n s io n g 4s .................1938 J - J
...... 84
M ay’ O1
85
90
N o rth C h ic St 1st 5 s ..........1909 J - J
D e c ’06
90
1 st 5 s ................................... 1916 J - J
, R e fu n d in g g 4*23 ........... 1931 A -0
79 A u g ’06
N o C h ic C ity R y 4*28 ...1 9 2 7 M-N
75 F e b ’ 07
75
75
N orth W e s t ’ n E l—
90 34 Sale
1 st 4 s ................................... 1911 M -S
90
9 0 7e
89*2 9 0 78
93
O g d en G as 5 s ...................... 1945 M-N
94
93*4
93*4
92
95
P e a rs o u s-T a ft 5 s .................1916 J -D
100*2 M ar’ 06
97
4 - 4 0 s .............................................. M-S
97 M a r’ 07
97
98
4"60s S eries E ............................M-N
98 M ay’ 07
98
99
4 -8 0s Series F ............................M-N
99 *2 Sep ’ 06
P e o p le 's G as L & C 1st 6s . 1943 A-O t l l 6 *2 S alt 115*2 115*2
115*2 115*2
R e fu n d in g g 5 s ............... 1947 M -S t ........ 101
100 A p r ’ 07
100 102 *a
C h ic G as L t & C 1st o s .. 1937 J - J 101 Sale 101
101
101 1 0 4 34
101 A p r ’ 07
C on s u m e rs ’ G as 1st 5 s . .1 9 3 6 J -D ........ 101
101
102
M u tu a l F u e l G as 1st o s . 1947 M-N
103 *2 F e b ’ 06
S ou th Side E le v 4 >28..........1924 J - J ‘ *9*7**^ * 9 8 *2 98
98
9*8** 1*00*4
B w ift & C o 1st g 5 s ........... 1914 J -J
9 9 * 2 1 0 0 34 1 0 0 78M uy’()7
100 102*8
U n io n E l (L o o p ) 5 s ........... 1945 A -O
....... ,100
99 M ay’ 07
98*2 100
U n io n P a cific c o n v 4 s ___ 1911 M-N
114 N o v ’04
U n ite d B o x B oa rd 6s ..........................
70*4
71 M ay’07
75
W e s t C h ic St 1st 5 s............1928 M-N
90 M ay’ 07
90
T u n n e l 1 st 5 s .................... 1909 F-A
68 *2 Sep ’ 05
D e b e n t 6s .......................... 1914 J-D
72*2 D e c ’ 06
C on sol g o s ........................ l9 i.o M-N
73
75
73 J ’ n e’ 07
70
78
W e 6t D iv C ity R y 4 *28. . 1932 J - J
87 D e c ’ 06
W e s t ’ rn s t o n e C o '5 s ........1909 A - 0
96*2 Jan ’ 06

.....

N o t e .—A c c r u e d in te re s t m us t be added to all

C h ic a g o bo nd

p r ic e s.

NAM E

B a n k e rs N a t io n a l ........
C alum et N a tio n a l.........
C h ica g o C ity ...................
C om m ercia l N a tio n a l..
C on tin en tal N a tio n a l..
C o o k C o S tate S a v in g s
C orn E x c h a n g e N a t .. .
D re x e l S ta te...................
D ro v e r s D ep N a tion a l
E n g le w o o d S t a l e .........
F ed era l N a tio n a l..........
F irst N a t io n a l...............
F ir s t N a t E n g le w o o d ..
F o re m a n B r o s B ’ k ’ g Co
F o r t D e a rb o rn N a t ___
H a m ilto n N a t io n a l. . .
H ib e r n ia n B ’ k ’ g A s s ’ n
K aapar s t a t e B a n k ___
M on roe N a t io n a l.........
M u tu al B a n k ................
N a t B a n k o f R e p u b lic .
N a tio n a l C it y .................
N a tio n a l L iv e S t o c k ...
N o rth A v e S ta te ...........
N o rth s id e S ta te S a v ..
O akland N a tio n a l..........
P ra irie N a tio n a l............
P ra irie S ta te ...................
R a ilw a y E x c h a n g e ___
Sou th C h ica g o S a v in g s
S e c u r it y ............................
State B a n k o f C h ica g o .
S to c k Y a rd s S a v in g s ..
U n ion Bank o f C h icag o
U nion S lo c k Y ds Stale
A m e r T r u s t & S a v g s ..
C en tral T r u s t Co o f 111
C h icag o S av B k & T r ..
C itizen s T r u s t & S a v ..
C olon ial T r u s t & S a v ..
D ro v e rs T r u s t & S a v ..
F ir s t T r u s t & S a v in g s
H arris T r u s t & S a v . . .
Illin ois T r u s t & S a v ..
K e n w o o d T r & S a v in g s
L a k e V ie w T r <fc S a v ..
M e rch a n ts’ L ’ n & T r C o
M etro p o lita n T r & Sav
N o rth e r n T r u s t C o ___
N o rth w e st T r & S a v ...
P eop les T r u s t Jc S a v ..
P u llm a n T r u s t & Sav.
R oy al T r u s t C o .............
S to ck m e n ’ s T r& S a v . .
U n io n T r u s t C o .............
W estern T r u s t <fc S a v .
W Side T r & S av B k ..
W o o d la w n T r & S a v B k

O utstand­
S u rp lu s <t
in g
In
Profits^
S to ck i
1905
•j>2 ,000,000 $1,249,848
8
100,000
J34.931
5
500.000
?126,67^
10
o 3 .000 ,0 0 0 4.194,047
12
4 .000.000 2,884,126
8
5 0.000
6
$ 1 ,355
3.000.000 4,565,591
12
200.000
38,7 8 3
6
6 00 .000
344,077
8
200,000
i3 1 ,4 8 ^
6 00 ,000
77,935 B eg an
12
8 .000.000 7.056,676
10
§ 144,834
100,000
P r iv
636,07 s
500 .000
6
1 ,000,000
391,581
187,400
500.000
8
1.500.000 1,111,362
200.000
497,7 V>5
5'J,00.
300.000
§ 7 3 ,3 7 ;
250 .000
6
2 ,000,000 1,178,604
1.500.000
361,9^ 9 B eg an
1 000,000 1,327,639 1 2 + 3
451,581 B eg an
200 ,000
44.472
6
50.000
34 ,325
6
100.000
69,006
250.000
55.93.S
8
6500.000
14,586 B e g a n
250.000
§64,677
4
200.000
83,778 O rga
300.000
8
1,000,000 1,068,513
§145 ,204 N o n e
250.000
§38,345 Began
200.000
§50.()2u N o n e
200.000
8
3.000.000 2,516,839
9 9 u ,l7 4
5 *2
2 .000 .000
n 500 ,000 § n 8 8 ,K2 d
§7,893
50.000
536,791 5 + 5
600.000
75,206
6
200 ,000
939,658
2 ,000,000
253,257 B eg an
1.250.000
4.0 0 0 000 7,922,842 12 + 4
35,437
200 ,000
§ 24,965 O rga
200,000
12
3.000.000 4,273,852
336 ,110
6
750.000
8
1.500.000 1,769,930
§35,906 O rga
200.000
§53,395
200,000
§ 256 ,602 '*8*
fc:;o o ,o o o
§ 535 ,429
6
500 .000
i 6,239 I n c o r
200 .000
§898,992
1 .000 .000
291,671
1 ,000 ,000
6
§ 20,922 Began
200,000
200,000
424,832 ****

....

....
....

,

....

....

....

D iv id en d R ecord
Jn
19 0 6

Per
iod

8
5
10
12
8
6
12
6
8
3
busin
12
10+10
ate Ba
6

Q -J
J -J
J -J
Q-J
Q-J
Q-J
Q-J
Q -J
1^ -J
Q -J
ess
Q-J
Q-J
11k
Q-J
F -A
Q-J

10
*3

L a st P a id
%
Apr
nec
Jan
Apr
Apr
Apr
A pr
Apr
A pr
Apr
O ct
Apr
Apr

’ 07, 2
’06, 6
’ 07, 5
’07, 3
’07, •J
’07, 1-2
’07, 3
’07, 1*3
’07, 2
’ 07, 1*2
16. 1905
’07, 3
’07, 2*2

J ’ly ’07. 2
Feb ’ 07, 2 *2
A p r ’07, 2

Q-F Feb
Jan
J ’ly
fe o
Apr
D ec
Apr
Apr

6*
b u sin
12+3
b u sin
6
6

Q-J
ess
Q -J
ess
Q-J
Q-J

'0 7, 1
’ 07, 4 *9
’07, 2
0 , 19 07
’07, 3
8 , 1906
’07, 1*2
’07, 1 *2

’Tl3*S
bu sin
5
n ized
8

Q-J
ess
Q-J
O ct
Q -J

A pr ’0*7." 2 C
J u ly J. 1906
A p r ’07. 1*2
12. 1900
J’ ly ’07, 3

May" 1,
6
8
7

19U
Q-J
Q -J
Q -J

5.
A p r ’07, 1*2
A p r ’07,
A p r ’07,

*1*0
6

Q-J J’iy ’0*7*,* 2 *»
Q -J A p r ’07. 1*2

bu sin ess
12+4
II
Q-J
nized N ov
12
Q-J
6
Q -J
8
Q -J
n ized J ’ly

_

Feb 4. 1907
May ’07, 1
A p r ’07. 1*2
18. 1905.
A p r ’07, 3
A p r "07, 1*9
A p r >07. 2
28. 1906

8* Q -J A p r ’0 7 ,' j 8
Q-F M ay ’07, 2
porate d M arch. 1905
6 + 1 Q-J A pr ’0*7*,* 1*9
busin ess s e p S, 1905
6
Q -J A pr ’07, 1*S

HD iv id e n d s a re p aid Q -J, -with e x tr a p a y m e n ts Q -F. H I n c lu d e s sp e c ia l d iv id e n d o f 30 % p aid D o c. 18, 1906.
* B id an d ask ed p n e e s ; n o sales w a ro
m ad e o c th is day.
{ N o p r ice F riday; la t«s t p r ice this w eek , a D ue Dee. 31. a D ue J u n e , c C apital in cre a s e d Jan . 1 .1 9 0 7 fro m $ 2 5 0 ,0 0 0 , a cash d iv id e n d
01 30 p er c e n t b e in g d ecla re d and to be ta k en as p a rt p a y m e n t fo r n e w sto o k .
b D u e J u ly ,
k C a pital to be in c re a s e d to $ 5 0 0 ,0 0 0 , a s to c k d iv id e n d o f 33*s
p. c. b e iu g d ecla red in p a rt pay m e a t th e re fo r.
n C apital and s u r p lu s to be in cre a s e d .
0 C a pital in o re a s e d fro m $2 ,0 0 0 ,0 0 0 . and £ 2 ,0 0 0 ,0 0 0 a d d ed
s u rp lu s,
t M ay 20, fo r N a tio n a l B a n k s, a u d M ay 21, ’ 07 fo r S tate in s titu tio n s , e x c e p t th o s e d e s ig n a te d ( i ), w h ic h are o f date M a rch 22 an d M a rch 2 3 ,
r e s p e c t iv e ly




J u n e 1 5 1907.J

THE CHRONICLE.

14*9

T e le g r tfc T elep h on e
Bid
Af>h Industrial and IHiscel j m ,t
TlAmerTelegcfe Gable 100
8
7o
SO Cons Storage BatteryiOi
11
11Centrai& So A m er. 100 110 120
Corn Prod R ef See Stock E xch list
Cominer Un T el (N Y ).2 5 113
___ Cramps’ Sh & Eh BldglOi
T R A N S A C T IO N S A X T H E N E W YOKK STOCK EXC H AN G E.
Emp & Bay State Tel 100
75
8
HCrucible Steel.......... 1(M "734
D A IL Y , W E E K L Y A N D Y E A R L Y
F ra n klin ......................100
45
67
55
68
p r e f e r r e d ...............10L
UGold <fc S to c k .......... 100 110 115
UDiamond
M
atch
Co.
100
125
I26*t
SI
ocks
Week ending
H udson R iver Teleph 100
R ailroad <tc
State
V S
55
60
Dominion Copper (new) Id
6
5 7s
June 74
UN Y<feN J T'-'eph...lO O 105 113
''onds
Bonds
Bonds
Douglas C o p p e r ............5
9*2 10
ly o ?
P ar value
Shares
IIN orthwestern fe le g . 50 110 115
3 :-!
E lectric B oat............. 100
37
Pacific & A tlantic....... 25
83
72
P re fe rre d ................. 100
80
87
$5^*0 ^Southern & A tlantic 25
$55,000
372,375 $32,142,250
$528,500
Saturday ............
10
96 100
E lectric V ehicle.........lOt;
8,000
0*50,500
344.000
47,207,100
658,666
M on d a y..............
P referred .................101
5
12
K
erry
C
om
p
a
n
ies
192.000
6b8,834
52,713,400
756.500
T uesday..............
9
Empire Steel............. lot
12
Brooklyn
Ferry
stocklOO
248.000
410,869
36,107,025
776.500
1
*2
W ednesday.........
P referred .................10(
55
B <fe N Y 1st 6s 1911.J-J $ 981-"
227.500
191,845
16,217.000
709.000
Thursday............
55
HFederal Sugar,com .. 100
65
60
762,600
177.500
12^500 N Y & 15 R Ferry stk.100
519,987
43,639,350
F rid a y ................
'0
90
llPreferred ............100
1st 5s 1922............ M-N
70
75
tu
7>»
IIGeneral Chemical ..100
$4,493,600 $1,244,000 $21,000 N Y & Hob con 5 s ’46.J-D $100 103
T o t a l................ 2,602,576 $228,026,125
96
llPreferred............... 100
99
H ob F y 1st 5s 1946 M-N $102 105
Gold H ill C o p p e r......... ! f 13?
1-’,
N Y & N J 2d 5s 1946. J-J $101 105
January 1 to June 14
Week ending June 14
Greene C ananea.......... 20 ■t 15
HaLes at
1 5 ‘4
30 ------- Greene Con C o p p er...It f 20
10th & 23d Sts Ferry 100
25
New York- Stock
1st
mort
5s
1
9
1
9
...J-D
$
70
134
Greene Consol G o ld ... 10 t 1*2
J&zcKange
1906
1907
1906
1907
’ 1U nion Ferry stock .100
26
36" Greene G old-Silver__ 10 t l 3s
1 *2
111st 5s 1920 .......... M-N
85
90
G ugsenheim E xplo’n.lOO 212 220
136,497,955
112,181,811
Stocks—N o. shares
2.692,576
4,167 580
S h o rt T e rm N otes
H ackensack Water Co —
f a r vaiue......... $228,026,125 $351,087 1.50 $9,570,857,685 $12,133,338,400
92
R ef g 4s 52 op 1 2 ...J-J $ 90
*177.700
$287,300 A in Ci"' ser A 4s ’ 1 1 .M-S $ 90** 91
$12 300
Bank shares, par..
60
67*,
Ser B 4s MclU5 ’ 12.M-S $ S9S4 91Vi Hall Signal C o .......... 100
BONDS
13
Havana
Tobacco
C
o..100
14
A
n
i
T
e
l
&
T
e
l
g
5
s
’
10
J-J
$
96*2
963
4
$424,800
$1,034,500
$227 000
$21,000
&jvern m en t bonds
18
P
referred.................
100
22
25,786,400
44,025,650 Atlan Coast L 5s ’ 10.M-." $ 97*2 97 s8 1st g 5s June 1 ’22. J-D
1,24 4,000
801 200
State bonds............
55
65
tsuttRoch&P
g4
‘s>
8’09FA
9
8
14
$
i>7»*
200,064,600
329,866,800
000
4,493,000
12,709
BK. and mis. bonds
Hecker-J ones-J ew ’l Mill
CentCross’n g u 6 s ’09M-N $ 97 *2 99
1st 6s 1922..............M-S 104 107
& A lt 5s 191 2 ... J -J $ 97*2 98 \
Total bonds___
$5,758,600 $13,737,200 $226,275,800 $374,926,950 Chic
40
45
Ch R I & P ac 4 His’07. J- J i 99 7h 100*8 H er’ g-Hall-Mar.new.lOO
.......
H oboken Land & IrnplOO 200
4*2s 190 m .................A-O $ 98^ 99
D A IL Y T R A N S A C T IO N S A T T H E BOSTON A N D P H I L A D E L P H IA Chic tfc W Ind 5 s ’ 10F & A $ 987t 99 >4 1I5s 1910.................M-N $100 103
£
Houston O i l ............... 100
8
EXCHANGES
Ciu H a m & D 4 ‘2s ’08.M -S
72
76
37
P re fe rre d ................. 100
43
: C C & St L 5s, June ’ 11 § 971, 97*4
Boston
P h ila d elp h ia
Erie 6s, A p r 8 1 9 0 s ........ 2 937s 943g Hudson R ealty.......... 100 120 135
Week ending
52 . . . . . .
VIngersoll-Rand com . 100
Interb R T g 4s 1908 M-N $ 9 7 ^ 98
June 14
90 . . . . . .
5s Mcli 1 9 1 0 ............M-S I 96^ <*6®g llP referred .................101
Bond
Bond
Unlisted
Listed Unlisted
Listed
li/07
Kan C So g 5 s A p r ’ 12J -J $ 95 *6 95 w, Internat’IBankingColOO 135 145
sales
shares
sales
shares
shares
shares
L a ck S teelg 5 s i909 ..M-S $ 96^ 97 l4 U lnt’n ’l M er Mar See Stk Exch list
"s g 1910...................M-r $ 94 V 95 k1 Internat’l N ic k e l___100 110 120
$46,800
6,933
$11,000
9,897
7,997
15,751
Saturday
83
P re fe rre d ................. 100
87
Lake
Sh & M So 5s’ 10 F -A $ 98*2 986s
30,5u0
7.241
21,451
13,406
22,500
23,168
Monday .........
16
International Salt___100
18
Lou
<fc Nash g 5s ’ 10.M-S $ 99
28,450
37.000
27,625
8.242
12,581
9SK
T uesd ay......... 28,440
57
1st g 5s, 1951.........A-O
62
37,200 M ich Cent 5s 1910 . . . F-A $ 98
98i*
24,290
8,380
79.000
20,040
W ednesday. . 23,664
6
8
International
S
ilver.
100
M
m
n
&
S
t
L
g
5
s
’
l
l
.
.
F-A
$
96>s
97
1
*
26,000
13,100
18,639
3,676
3,243
Thursday....... 19,126
P referred ................. 100
6>
70
99»«
58,000 Mo Pac 5s Fab 10 ’08. F-A $ 99
15.000
21,921
5,666
9,i)98
F rid a y ........... 20,668
108
N a tot M ex 5 s ’ 07.opt A-O $100 10018 1st 6s 1948............... J-D lo 7
50
Lackawanna S te e l... 100
55
$226,950 N Y Cent 5s 1 9 1 0 .... F-A $ 98*2 98
71,975
54,974 $177,600 105,894
T otal.......... 129,100
Penn C o g u 4 \ s 1907M-N $ 997b 100^ Lanston M onotype.......20 t 12*2 123|
P a R R 5s Mar 15 ’ 10.M-S $ 98*2 98\ Lawyers M ort Co....... 100 195 198
52
70
St L M So’east4 “vS’09 J -D $ 96
96% 1]Leh & W ilkesl) Ooal.oi
S t L & S F g 4 V 0 8 . ..J - D $ 9 5 7g 965e Lord <fc T a ylor............ 100 125 130
98 102
P re fe r re d ................. 100
South’n c o llt r os ’09. A-O $
A W eekly Review o ' Outside M arket w ill be found on a preceding page.
97
South R y g 5s 1910.. F-A $ 913.4 92*4 ULorillard (P ) pref ...1 0 0 125 135
Tidewater co n Co 6sl909
0930 M ackiy Companies See Stk E x list
S treet R a ilw a y s
S treet R a ilw a y s
Bid
Ask
A sk U S R u b b e r g 5 s ’0 8 ..M-S $$ 99
Bid
15
Sci G arden..100
22*,
99
99*4 Madison
Pub Serv Corp N J (Con)
76
N E W Y O R K C ITY
2d 6s 1919..............M-N
80
W abash 5s, May 10 1909
35 ........ W estingh E1& M 58.1907 $ 96“4 97*e UManhatt Beach C o .100
25
J C Hob<fc Paterson loo
28
Bleeck St<fc Ful F stk 100
3
6
$100
100*4 Manhattan T ransit___20 t 5*2
83
4s g 1949............ M-N I 67
69
87
111st m ort 4s 1950 ..J-J
5®<|
W heei’g & L E 5s ’08-F-A $ 96
97*4 M ex N at Construe.pflOO
So J Gas E l & T rac 100 113 116
HB’y & 7th A v e stk ..10 0 210 230
13
17
Gu g 58 1953....... M-S $ 97
98
1J2dmort 6s 1914 ...J-J 101 104
M itchell M ining.......... 10 t 3i*
R a ilr o a d
3*4
N o H ud Co Ry 6s’ 14J-J $106 . . . . . . Chic Peo & St L pref. 100
Con 6s 1943 See stock Excli list
Monongahela R C oal..50 t 6
734
5s 1928...................J-J $102
B’ w aySurf ls t 5 s g u 1924 102 106
P referred ...................50 t 27
Deposited
stocn
............
lv
,
E x t os 1 92 4 ....... M-N $100 102
90
HCent’l Crosst’ n s tk ..100 250 300
M
ortgage
Bond
C0...I
O
0
"95"
Undeposited
stock.......
2
Pat City con 6s ’ 31.J-D $110
Hist M 6s 1922 ...M -N 108 115
N at Bank of Cuba___100
98 103
P rior lien g 4 *as’30Mi&8 *90 100
2d 68___1914 opt A -0 $100
National Surety....... .100 155 170
flCenPkN & E R stk.100 158 163
Con intg g 5s 1930. J&J
60
66
So Side E l (Chic) See C hicago list
flChr’ t’ r& 10th St stlc 100 140 160
Nevada
Cons’d
Copper.5
t
12-4 13*4
5
Incom
e
5s
1
9
3
0
...........
10
Syracuse Rap Tr 5s 1946 $102 104
Colife 9 th A v e os See Stock E xch list
ev-U tah M in & S in .lt f 4®g 5
Subway............... 100
24
2 412 N
Trent P & H 6s 1943J-D $101 . . . . . . Chic
30
Dry D E B <fc B—
IlNew Central C o a l___20
40
Ft
W
<
fc
Den
Cy
s
td
..l0
0
95
105
United R ys of S tL —
97 101
111st gold 5s 1932...J-D
Great Northen Ore See Stk E x list N J Ter D o c k * im p . 100
31
95
Com vot tr c t f s ___ 100
96
liScrip 6s 1914 ....F -A
32ia N Y N H & H a rtfo rd N Y B iscuit 6s 1911.M-fc- 102*2
66
1JPreferred____ ____ 100
68
Eighth A venu e stk..l()U 300 350
Con deb 3*ss 1956. J& J $ 98*2 99*2 N Y M tge & Security. 100 185 3.95*"
Gen 4s 1934. . . . See Stk E xch list
98 100
liScrip 6s 1 9 1 4 ___F-A
UNew Y ork D o o k ___ 100 . . . . . . 35
N orth’n Securities Stubs
75 100
U m tR ysSanF ran SeeHtk E xch list
1]42d& Gr S tF ’ y s tk ..100 340 390
68
llP re fe rre d ..............100
72
Pitts
Bess & L E .........50 t 31
34
37
W ash R y & E l C o ....10 0
68
73
38
42d St M <fc St N A v .,1 0 0
N Y T ransportation...2 0 1 2*2
4
P
referred
...................50
f
70
74
P referred ................. 100 X 77 ^ 78
111st mort 6s 1910 .M-S §102 103
N iles-Bem -Pond com . 100 100 110
HRailroad
Securities
Co.4s 1 9 6 1 .................... J-D
81
S i's
1|2d income 6s 1915 J-J
68
73
N ipissing M in e s ....... 5 t 11 Hi l l 8*
ZSO
lll.C
.stk.tr.cfs.ser.A
’
o
i
90
30
32
Inter-M et—<See Stock E x cha’ ge list 1iW est Chicago S t ___ 100
liOntano S ilv e r .........100
3 S’
6*s
Seaboard A ir Line—
70
UCong 5s 1936....M -N
75
L e x A v tfcPav F’ 5s See St k E xc list
30
Otis E levator com ___100
40
Coll 5s ext May ’ 1 1 .M-S
96*2
80
90
P
referred
.................
100
M etropol Street R y. 100
87
92
Seaboard
Co___
See
Balt
Exch
list
G a s S ecu rities
Ninth A ven u e s to c k .100 140 160
Phoenix Securities.......... ......... t ®8
In d u strial and iH iscel
NEW YOEK
Second A venu e stocklOO 160 170
Pittsburg B rew ing___50 t 27
27 Hi
A hm eek M ining......... 25
Cent Un Gas os g ’27.J&J $ 97 101
P referred ...................50 t ........ 49
111st mort 5s 1909 M-N $100 102
80
90
Con Gas (N Y )____ See St k E xc h list A lliance R ealty.........lo o 115 125
Pittsburg Coal See Stock E xch list
C onsol5s 1948___ F-A $107 109
170
186
HSixth A venu e stock 100 140 160 IIMutual G a s ..............100
A llis Chalmers Co 1st in
P ope Manufacturing.lOt
1H 2
Sou Boulev 6s 194 5 ..J-J $100 104
N ew Amsterdam Gas—
s f 5s ’36 opt ’ 1 6 .. J -J $ 68
1st p re fe rre d ....... t .100
40
50
70
97
So Fer 1st 5s 1919...A -O n o o
103
1st consol 5s 1948..J-J $ 94
Am erican B o o k .........100 150 165
2d p referred ....... ..100
10
Third A venue See Stock Exch list
N Y<fc ERGas 1st 5s’44J-J $100 106
Am erican B rass.........lot
Pratt <fc W hitn p re f.. 100 98
115 125
102
Tarry W P <fcM 5s 1928 $ 95 100
IIAinerican Can See Stoc k E x ll8t
Public Serv Corp of Va—
Consol 5s 1945.........J-J $ 97 101
33
36
YkersSt R li 5s 1946A-0 t 95 100
American Chicle C o ..100 178 183
1st m g 5s J u iy 1936 opt
N Y & Richm ond Gas. 100
28th <fc 29tli Sts 1st 5s ’ 06 $101 1113 N or Un 1st 5s 1927.M-N i 97 101
P referred ................. 100
Realty A ssoc (B k ly n )lo o 140 150
97 100
IjTwenty-Th’U St stk 100 325 375
80
IjStandard Gas com ..10 0
A m Graphopho co m ..lo t'
Royal B ak P ow d pref. 100 101
41
104
43
Safety Car H eat & L t 100 250 270
Union liy 1st 5s 1942 F-A $100 106
P re fe r re d ............... l o t
llP re fe rre d ..............100 100 . . . . . .
80
82
Westchest 1st 5s ’ 43 J -J $100 105
A m er H ardw are........ 10(
60
1st 6s 1930............ M-N $100 105
117
75
BROOKLYN
Am M altin g6s 1C14.J-D
96 " 9 8 " Singer M fg Co............ 100 450 470
O TH E R C ITIE S
Standard Cordage___100
Atlan A ve 5s 1909..A-O $ 98
Am er Light & T ra ct. 100 102 103 \ Am er Press A ssoc’n.100
95 100
2*2
6
91
Con 5s g 1931.........A-O $102
93
Ain Soda Foun co m ..100
P referred ................. 100
ls tM .g .5 s .’3 i red .. A.O
35
40
1
B B & W E 5s 193 3 ..A -0
99
1st preferred............ lo o
Adjust. M. 5 s. A pr 1,1931
7
*s
Bay State G a s ..............50
3b
8*a
*2*6"
Brooklyn City s to c k ...10 195 202
99
2d preferred............ 100
Standard Coupler c o m l00
50
Binghamton Gas 5s 1938 $ 94
55
5
P re fe rre d ................. 100 115 125
Con 5s See Stock Exch list
Am St Found 6s ’35 A& O $ 90
B rooklyn Union Gas deb
93
Bkln Cro8stn 5s 1908.J-J
9968 1909 con v ’ 0 7 ...M -S 105 125
Standard M illing Co. 100
6
Am erican Surety.........60 187 H 195
8
91)
6*3 8
P referred ................. 100
B kn H gts 1st 5s 1941 A -0
37
American Thread p ref..5 1 4*4
Buffalo City Gas stocklOO
32
5
Bkln Q Co & Sub See Stk Exch list
1st 5s .1930............ M-N
75
A m T ob a c (new) com 100 315 350
1st 5s 1947 See Stock E xch list
78
92
Bklyn Rap Tran See Stk Exch list
Am T yp efo’rs c o m ...100
Standard Oil of N J..1O0 518 520
Con Gas of N J 5 s ’36 J-J $ 89
37
41
11Coney Is. <fe Bklyn ..100 100 150
P referred ................. 100
S w ift & Co See B oston St k E x c h’ga
Consumers’ L H & P ow —
96
99
92
1st cons g 4s 194 8 ..J -J
88
Am er W riting P a p er.100
1st 5s 1910-1914...J -J i ........ 101
5s 1938...................... J-D $102
2
l 3i
B rk C <fc N 6s 1939.J-J 104
P re fe rre d ................. 100
IJTexas & P acific Coal 100
79
Elizabeth Gas L t C o ..100 275 ___ _
85
I t *2 21
Gr’ pt (SsLorimer St 1st 6s 102
1st 6s 1908..............A-O $104
1st sf g 5s ’ 19 op ’09.J - J
E ssex & Hudson Gas 100 116 119
81*2 82 *5
40
K ings C.Kt—4s See Stock Excli list
46
IJBarney <&Sm Car ...1 0 0
T itle Ins Co of N Y ..100 150 i e o
F ort W ayne 6s 192 5 ..J-J
63
60
Nassau E lec pref....... 100
56
llP referred............... lu o
Tonapah M in (Nevada). 1 t 15
65
76
Gas<fc El Bergen C o..100
139
I5>a
5s 1944.................... A-O 104 . . . . . . 1-Gr Bap G i s t 5 s ’15 F-A $103 10S
UBethl’m Steel Corp .100 T o I, 12
TrentonPotteries comlOO
14
17
1st 4s 1951...........See St k Exc h l i s t Hudson Co Gas.......... 100 107 111
1|Pref e r r e d ..............100
P referred new ___ 100
80
90
35
60
N W b ’gife Flat 1st ex 4*us
99
Bliss Company oom ___50 135 145
35
Indiana N at & i ll Gas—
45
15
Bteinway 1st 6s 1922.J-J $105 110
Union Copper. ............10 IP referred .................. 50 130 134
20
1st 6s 1908............ M-N
34
60
O T H E R CITIKS
Union Typew r co m ..100
82
08
B o n d * M tg Guar___100 340 360
Indianapolis Gas.........50
85
99
Buffalo Street Ry—
115 11S
Borden’ s C on d M ilk.. 100 162 168
1st g 6s 1952.......... A -0 $ 96
2d preferred............100 116 118
1st consol 5s 1 93 1 ..F-A $106 107*2 Jackson Gas 5s g ’3 7 .A-O $ 97
99
P reforred .................100 107 110
60
United B k N ote C orp ..50 t 58
British Col C opper........ 5 t 734
Deb 6s 1917............ A.O $104 ......... Kansas City Gas.........100
62
8
P r e fe r r e d ................ 50
50
Butte Coalition M in .. 15
Chicago City Ry
See C hicftK O list
92
1!L»ciede Gas..............100
62
23
24
UU nitedu igarM f g. ,pf. 100
98 100
Casein Co of Am com.. 100
85
Columbus (O) St I t y ..100
91
1iP r e fe r r e d ..............100 ■'90“ 92
2
3
United Copper............ 100
P referred ................. lot
P referred ................. 100 107 109
48*51 66
63 Hi 64 Hi
80
Lafay’ eG a slst 6s’ 24.M-N
70
25
Coluui R y con 5s See Pli Ua list
Casualty Co of A m er. 10 0 130 140
80
90
32
Log<fc Wab V 1st 6s’25. J-D
Crosst’ wn l s t 6 s ’33.J-D $100 105
2'^5
Celluloid Co................. 100 128 135
Madison Gas 6s 1926, A-O $103 108
Grand Rapids R y___ 100
65
U S Envelope c o in ... 100
30 ' 40'*
60
Cent Fireworks com . 100
N ewark Gas 6s 1944.Q-J $129 130
10
15
P referred ................. 100
89
83
91
Preferred.................1 0 0
80
97*2 100
65
N ewark Consoi G as..100
75
Lake St (Ohio) El
See C hicago list
2% U S Steel Corporation—
IjOon g 5s 1948....... J-D 105 <« 10614 Central F oundry....... 100
C oltr h1 5s ’51 opt ’ 1 1 .. $109 111
jL o u is v St 5s 1930..J& J $104*4 10514 N o Hudson L H & Pow —
P re fe rre d .................100
IS h 15
C o l t r s f o s ’ o l n o t o p t.. $109 111
L y n n * Bos 1st 5s ’2 4 .J-D $103 105
Deb 6s 1919 op ’01M-N
os 1 9 3 8 .................... A-O $102
71
68
U S T it Gu<fc Indem .100 ____ _ 100
TJNew Orl B ys & Lgt. 100
22
22 ** HO & Ind C Nat & 111 .100 . . . __ . . . . . . Century R ealty.........100 185 195
T]Utah Copper Co. See S tk E x list
22
^ P referred ..............lo o
Chesebrough M fg Co 100 400 425
30
70
1st 6s 1926..............J-D
70>a
Water bury Co, com ..lO o
39
lIGen M g 4 *28 ’35 See Stk E x list Pat & Pas Gas & EleolOO
66
41
City Investing Co___100
70
95
90
P referred..... .........100
*100
98 100
N orth C lrc Street Sec C liicago list
IjClaflin (H B) oom ___100
11 C o n g 5s 1 94 9 ....M -S *100 102
W estchester & Bronx
511st preferred.........100 ' 96* t<6
P ub Serv Corp of N J100
90
85
95
St J oseph Gas 5s 1937. J-J $ 84
T itle <fe M ort Guur.100 167*2 172J*
112d preferred.......... lo t
T r ctfs 2% to 696 perpet
65
64
93
Electric C om panies
33*? 34*4
Col <&H ock Coal<fcI pf 100
W estern I c e ............... 100
Coll 6s g notes ’09 M-N $ 93
94
74 *76
W estingh A ir B rake..50 140 145
North J ersey St By 100
Chicago Edison Co See C incuago
1st $ 5s 1917.........J-J $ 82
40
(-5
50
Col & 6s Oct 1956..J-J
1st, 4s 1948......... M -N { 07
UKingsCo El L A P Co 100
121
70
97 101*2 1|West El & M fg—5s See Stk E x l i s t
1#
Oonsolid Car H eating lo t
C onsT rac of N J ...1 0 0
71
W hite K nob M in .........10
Narragan (P rov) El Co 50
73
#8
45
40
“a
2
2*4
1st 5s 1933.......... J-D $102 103
nut B y L t g * R e fn g . 100
Preferred.................... 10
4
N Y & y El L&PowColOO
M
3
W orthing Pump pref .100 114 120
New’ k Pas R y 5 s ’ 30J-J $108 109
P referred ................. 100
TO
Oonaol R ubber T ire .. 100
78
6
4
40
70
Rapid Tran St R y ..l0 0 235
20
25
U nitedE lectrioof N J100
est
4 s l9 4 9 .................... J-D } 67
1st 5s 1921.......... A-O $105
37
33
$B uyer pays accr’d int. f P rice per an. fs a le p iu e . aBx-ri^nta. .ciix-air. I H o * stock. HSella on S t'k E xch ., trat not a very active security.

Volume of Business at Stoc£ Exoaanges




Outside Securities

f-vr

BOSTON BTOGK E X O S O G rE — Stook Reoord, Daily, Weekly and Yeariy
S h a r e P r i c e s — N o t P e r C e n tu m P r i c e s
S a tu r d a y
June 8

M onday
J u n e 10

89
89^3
89
*93 % 94 if
215
215 215
131
*133 131
*
♦__
218
163
160 160
16 ‘ >
160
♦298
*298
*
*
12
*50
55
*50
233a m
23%
*
73

*122
*75
*80

122
*75
*80

79
85

»

192

*

W ed n esd a y
J u n e 12

901, *87=t 8 7 7
8814 88
94*i * 9 2 7f: 93 7 *92% 93^
215 215
215
215 215
*133 135
134
134 134
*
*
218
218
218
163
163 164H, 163 % 1631.
160
160
*298
*298
*
* ___ _
12
12
12
*50
OO
55
00
*50
23
2 3 3s
23
233e 24
h
73
73
73

123
79
85

16% 16%
58
*20% 21%
1 6 3 34 165

17
17
*57
60
*20 Hi 21,1.
162 165

T u esd a y
June 1 1

190

T h u r sd a y
June. 13
*88% 883,
*9 2 % 93
* 215
........
*133 134
*205 2 iO
*......... 164
* ......... 160
L a s t S c -li
I,a s t. S a l e
L a stS a le
23 % 2 3

*43
*
90
90
*85
*
97
94i-i 941*
1 3 7 % 187% 136% 137a4 133 135%
*85 78 8 6 7* *85 *2 86 % *85% 86%
*S6
*102

86%
86
*
104

86
*86
104% * ..

87
104

L a s t S a le

*85
95
133% 134%
*85% 86
*

86

86
102

_____ *16%
____
78 *•.
79% 80
78
78% V9 1*.
78*3 78%
*7 %
9
10
8%
8%
8
8%
8%
21%
20
*18% 19%
18% 19
*18% 19%
121% 121% 120% 120% 120% 120%
121 121
121% 122
122 122
122 122
121 122
108 108% 103 109% 108% 109% 108% 109
*24% 25%
26
2 5 14
*25
25% 25 % *25
91
91%
91%
91
91% 91%
91
91
4
4
4
*3%
4
*3 %
*3%
106% 106% *105% 106
*105% 106
106 106
21%
21%
8
3% *
-•n6
8%
7 34 *
*7%
208 208
208 208
208 208
208 20,S
141 141
1 4 0 ‘s 140 "a 142 142
60%
60% 61
60
60
60% 61
59
84
84
83
83% 83%
*83% 83% *83
210 210
*208
208 208
208 208
*2
2% *
2%
2%
3
*2 ia
2%
*
*
*
50
50
50
50
*
•
*
*
88
88
88
88
110 % 112
* iio % ii2
*110 112
112 112
160% 161%
162 16 2
192 162
162 162
*9% 10
*9% 10
*9% 10
* 9 7a 10
106% 107 210 5 105%
107 107
105 *a 106
» __
20% * ____
20%
20% *___
20% 20%
*
*.......... 25
20
25% * ____
20% * . . .
3
3
3
*2%
3
*2%
•2^4
108 108% 108 % 10i»
107 107% 107 108
63%
63
fct> S)
60
62 % 63
59% 60
27% 2 1 *a
28
27% 27 %
*27
27% 27%
33%
33
* 3 3 % 34
34% 35
34*8 34%
99%
98%
97% 98
98
98
98>a 98%
6
6
0
6
0
*5
*5
*5
*
•
70
7o
V0
70

*2
•44
85%
34
4%
«%
*%
*11%
7%
16%
*•40
*25%
24%
155
788
25^
*•35
78 *9
16

2%
48
86%
35%

2%
48
8 6%
35

2%
48
87%
35 %

5
6
%
%
“ 2
1
1
*%
12
*11% 12
8
8%
8
17
16 'g
17
•50
•60
•50
26%
25% 25 %
24%
24% 25%
156
156 157
/y o
798 799 %
26%
27
27
•40
•40
*•35
79
78%
78
16
£ 16 % 16%
6

2
*1*4
*1%
14%
14
13%
__ _ *120
•120
16%
16
15
15%
15
5
•60
11%
13
86
3
14
81

15%
14%
*4%
*•50
*11%
18
86
*2^
*13%
80%
*1
45%
125
19%
*1
114
*4%
2*8
18
103

4*;
12o
19%
1%
114
5
2%
18
103

19%
67%

20
69%

2
14
......

17

2%
45
83%
34
57%
5
*%
*%
11
8
15
..........
24
24
155
785
*25
*•85
76%
*15%

1 9 34 20%
67 % 68 *4

19%
*68

15%
14
5
•60
11%
13%
86
3
13
80%
......

4 6 ‘4
126
19%
1%
113
5
2%
18 %
105
19%
68

10% 10%
10% 10%
10% 11*3
50
50
*49% 49%
49% 4 9 34
43% 43%
43%
43 % 43%
43
5 9 14
58% 59%
57 %
59
53
b%
0%
6%
6%
6-%
6%
*1
*1
*1
*7
*7
*7 ..........
150 151
*150 152
*150 152
1
1
*I
1%
1%
1%

A p r ’ 07

C h ic J u n c B v & U S Y l O O
HH
KM

¥60

A p r ’07

*85% 86%
100 101%
L a stS a le
8*2
9%
20
20
120% 120%
122 122
108 108%
*25
26
90% 91
L a st S a le
*105 % 106
L a st S a le
205 207
140% 141%
60
60
33
83%
208 208
*2
2>a
L a st S a le
*110 112
160% 161
L a st S a le
105 105
20
20
24% 25
L a s tS a le
108% 109
65
66
*2 7 % 2 7 34
33
33%
98
98%
*5
6

........
.........
.........
.........
.........
81
55

189

8
M ay’ 07
•207
207
*140
140
55
58%
83
83
.........
*205%
#
2%
46 J ’ n e ’ 07
84
M ay’ 07
110
110
160%
160
&%
J ’n e ’07
105
io 5
*
20%
* .........
25
J ’n e ’ 07
2%
109
109
63 %
65
27%
27%
32%
32 'e
97%
97%
____
*5
70
M ay’ 07
70
M ay’ 07

E a st B o s to n L a n d ...
E d ison E le c I lt u m ... 100
G e n e ra l E le c t r ic ___ 100
M ass’ chusettsG asC oslO O
D o p r e f ................. 100
M e r g e n th a le r L in o .. KM)
M e x ica n T e le p h o n e .
10
D o p r e f ................. 100
N E T e le p h o n e ........... KM)
P u llm a n C o ................... 100
R e e c e B u tt o n -H o le .. 10
S w ift & C o ................... 1(10
T o r r in g t o n C lass A . . ?5
D o p r e f ................. 25
U n io n C op L ’a & M g .
U n ited P r u it ............... io n
U n S h o e M a c h C o r p . ?,r>
D o p r e f .................
U S S te e l C o r p ............ 100
D o p r e f ................. 100
W e s t T e le p <fe T e le c .1 0 0

12 189

* B id an d ask e d p r ic e s .

L ow est

H ig h es t

86% J ’l j
*97 % Dei
239
Dec
14/
Auj
230 Dec
ISO Dec

110% Sep
105% Jan
257% Fefc
160 J an
246 % A p i
180% A p i
1 7 5 1*>Mai
314*2 A p i
27% Fell
75 Pel)
3 9 % A pr

299%
1 ::
6:5
25

D ec
Xo\
.Taij
Jan

15i> Oct
117% J ’ ly

Apr
188

■260 M ar 2 s
121 % J ’n e l ‘_
{>75 J ’n e :
82 M ay2i
_
197% F eb 15
425 14% M a r2 i
442
19% M a r 9
4,703 160 J ’n e 0
152 M ay 2 b

10<
F itc h b u r g p r e t .......... ,10<
79 G a Ry<fc E l e c t r ic ... .101
D o p r e f ............... 10(
M ay’ 07
1(M
P e o ’ 07
17
M ass E le c t r ic C o s . . . . K)<
KM
57
M a r’ 07 M e x ica n C e n tr a l___ ,10(
162 N Y N H & H a r t . . . KM
101

Old C o lo n y ................. 10<
1 (M
40
1 (Ml
30
KM
86
86
1 Of
95
KM)
13150 133'.. U nion P a w t ic ........... KM
8 8 '1
A p r ’ 07
l ) o p r e f ............... KM
17U
KM
•85
86
W e s t E n d S t ............. n<
101
101
jjo
p r e f ............... r><
147
101
it lis c e U a n e o u s
15
J ’ n e ’ Ov A m er A g r ic n l C h e m .iO l
79 n,
73%
MM!
8 % A m e r P n e u S e r v ___
8
50
19%
*18%
D o p r e f............... 50
119%
120 % A m e r S u g a r K e fin ... 100
122
122
B o p r e f ............... KM)
a 104
105% A m e r T e le p & T e ie z .lO O
25% A m e r W o o le n ........... 100
25*4
91
90%
0 0 p r e f ............... 100
M ay’ 07 B o s to n L a n d .............
3%
10
*105%
106 C u m b e rl T e le p & T e l 100

110

135
114
88

F e b 13
Jan 9
M ar 22
M ar 7

2 0 % Jan
71%. Jan
25% J an
190% J a n

J ’n e l 4 2 0 0 % Jan

9
;■
-2
2

190
2 >5
132
y5
'-<9
197
17
59 ^
21
190

228
7 193

O ct
Oct
J an
Dee
Mai
Jan
Jan
Aug
J ’ ly

Mai

145 Jan
107 A p r
95 Jan
200
Deo
23 J ’m
75 J’n«
2 8 14 D eo
207% Jan

J ’ ly
D ec 210 J a a
53 % OcS

1
1
103 Jan 7
106 F e b
3,25b 124 Mar2tj 182% J a n 7 139 % M aj 195 Sep
8 4% A p r 4 93 J a n 15 91 M aj 9 9 34 Jan
13 86
3H 100

J ’n e 6 95
J ’n e l 3 110

Jan 26 92
M ar 4 lo 7
150

15 J ’n e 5 20 Jan b
‘2 89 78 J ’n e l t 95 F e b 7
6 % M ar 14 14% Jan 8
4,558
1 ,55U 16 M ar 2 7 33 J a n 8
1,233 110% M ar26 137 % F e b 11
131 120 M ar25 131% J a n 16
7,989 a i 0 4 J ’ n e l4 134 ^ J an 2
115 ‘2 4 M ay29 36% J a n 7
795 90% Way 13 102% J a n 8
3 M ar28
4 J a n 15
61 106 J ’n e 6 115 J a n 10
50 16 M ar26 25 F e b 19
7 M ar 7
9 % J an 3
259 200 A p r 1- 2.:.) J a n 7
42 136 M ay28 .6 2 J a u 2 i
J an io
2,658 ; '4 ‘<, Mar^i.'
159 80 M arJu 8 6 *2 A p r 26
21 199 Jan 2 I i.0 -J.UL- J
2 J ’n e 3
4 34 J an 11*
50
46 J ’ ne 0
84 M ay 2 9 90 J a n l 2
71 110 J ’n e 5 126 J a n 7
156 M a r io 182 J a n 7
* 9 % A p r 5 11 J a n 10
170 * j 04 M ar 15 113 Jail 16
20 20 J ’ n e l3 2 2 % J a n 12
43 24% M ay 8 26*2 F e b 19
li % J an 24
2 % j ’n e 7
78S 10.1% M a r l i 113 A p r 25
12,303 53 J ’n e 5 69 Jan 2
150 25 M ay 1 29 Jan 4
8,627 3 1 % M ay 2 7 5 0 % J a n 7
733 9 2 14 M ar2.j 1 0 7 % J a n 7
9 Jan 12
5
IUai'25
10
70 M ai'21 82 J a n 17

7 6 M ay 6
50
> lin iu t(
3
3 A d v e n tu r e C o n ............
6 % F e b 20
2%
2%
*2%
2 J ’n e 0
490
43
4o
*40
48
*40
136 45 M ar26 7 4 % J an 14
A l l o u e z .......................... 25
84%
83 A m a lg a m a te d CopperlO O 25,684 79 M ar 26 121 J a n 5
83% 84
81%
35
34%
34% A m Z in c D ead & s in . 2f> 1,476 33 J ’n e 4 53 J an 22
34% 34%
55%
65%
234
4 34
4% A r c a d i a n ...................... 25
4% J ’n e 4 1 5 % J a n 16
*4%
5
4%
640
J ’n e ’ 07 A r n o ld .......................... 25
% A p r 16
2 Jan 7
% L a s tS a le %
1
M ay’ 07 A s h B e d ........................ 25
1 % Jan 9
L a st s a l e %
% M ay 2 9
11% *11
12
11% *11
A t l a n t i c ........................ 25
3 6 1 11 J ’n e l ! 22 F e b 23
8
8 B a lak lala te m p c e r tfs
7%
7%
8
734 J ’ n e l4 12% A p r 4
2,965
15%
15
14%
15
15
B in g h am C on M i n * s 50 l,t425 14% M ar26 37 Jan 14
«
•60
•45 B o n a n za (D e v C o ) . .. 10
•50
’50
250 •50 A p r 25 •80 Jan 17
24
24 B o s to n C o n C & G (r c ts ) Ail 1,410 2 0 % M ar 2 6 3 3 % Jan 5
24
24%
23 *2
25
23% B u tte C o a li t io n .......... If. 2,893 2 0 % M ar 2 6 ;sy % Ja n 7
23%
24% 24%
155
152
155 C a iu m et & A r i z ......... 10
154 154
815 148 M a r i5 193 F e b 8
mo
775
775
780 780
61 776 J ’n e i4 1000 F e b 16
C a lu m et & H e c la ___ ‘25
26
*24
25
25
25
530 25 J 'n e l3 47 P e o 18
C e n t e n n ia l................... ‘25
•40
•37
•37 C ons M e r c u r G o ld ...
*•37
-40
200 ■35 M ar25 •52 J a n 19
1
77%
76
76% C op per R a n g e C on ColOO 5,128 72 M ar 2 6 105 Jan 14
77
77%
16
15% D a l y - W e s t ................... 20
15%
IS
16
205 1 4 'a M a r l5 20 % Jan 23
70 % M ar 2
60
114 J a n 12
Z i0 %
2
4 % Jan 16
*1%
2
'1 %
1% M aj 27
*1%
2
200
12
12% 13%
13
13
13% 13 %
F r a n k lin ........................ 25 1,550 12 % J ’n e i ‘2 2y % M ar 1
*120
. . . . . . *120
119
.......... *1 1 9
S r a n b v C on solidated. 100
20 a:119 J ’n e l4 151 P e b 8
10 % 15%
15 %
15%
1 5 % 15%
14,391 14 M ay26 1 7 % A p r 8
5 % J an 11
3**
3%
3%
15% 15%
15
15
15
15%
Is le R o y a le (C o p p e r ). 25
880 13% M ar26 36 % J a n 14
13% 13 J4
13% Da S alle C o p p e r ..........
13% J ’n e l2 30 F e b 8
13% 13% *13
4%
9 % J an -10
4%
4 % J’ne 3
4% M ass C o n s o l.................
4%
4%
4%
815
•60
1% J a n 24
*•50
♦•50
•60
*•50
’ 60
200 •50 A p r 5
25
11%
M
a
r2
7
15%
J a n 24
11% M e x ic o C on s M & S . 10
11% 11%
11% 11%
11%
245
12% 13
12%
13
.13
12%
301 1 2 % J ’ ne 4 ‘2 4% J an 16
85
77%
84
83
83% * 7 7 %
1,276 68 M ar26 96 % J an 14
2%
3% M uy 7
1% J a n 18
2%
*2%
2%
2%
2% M on tan a C on solC & C 10
650
13
13
13% N e v a d a C o n so lid a te d
*12% 13% *13
710 13 J ’ n e 6 2 o % J an lu
5
79% 80%
77% N o rth B u t t e ................. 15 7,617 72 M a r 2 6 120 J an 6
76%
7 8% 80%
*
1 * ..........
1
1 M ar 14
1
2 % J an 4
1
50
45 % 45*2
42% O ld D o m in io n ............. ‘25 5,154 36 M ar 26 63 F e b 14
41
44%
41%
*120 126
120
*120 125
119
650 115 M ar26 181 F e b 21
19% *19
19
19
19%
19
335 19 J ’n e l 4 35 J an 14
P a rro t l Silv<fc C opp) 10
1 J an 5 t3 J a n 26
1%
*1%
1%
1% P h oenix C o n s o l............
300
1%
1%
L ll
111
111 112
110
111
703 103 M ar25 148 i e b 6
4 34
4%
4% J ’ n e 5 1 12% Jan 15
4% R h o d e I s la n d ...............
4%
4%
4%
425
2%
2 "a M ay 22
*2%
2%
2%
7% J a n 8
2 s? San ta F e C G o ld A C op) 1(1
2%
335
17% 1734
16%
17% 17% a; 16%
i n 3,548 14% M ai‘26 24% J an 17
102 102
102
103 103
100
370 LOO M ai-26 170 Jan 14
.T a m a ra ck .....................
36% M ay29
Uay’07
19% T r in ity ............................ ‘25 1,806 14% M ar26 42*4 J a n 24
19% 19%
19
19% 19%
6 0 %^ 61 % 63 % *63%
64% U nited C o p p e r............ 100 7,365 53 M ar26 77% M ar 7
65
91 M av 1
9% M a r i 5 13% Jau 22
10%
10% U n it S tates Coal & Oil 25 3,463
*10% 11%
10% 10%
49
49*2 49%
49% 49*2
48%
LF S S m eit Ref.ifcM in. 50 2,060 4 8 % J ’n e 4 70 J a n 2
43% 43%
43
43%
43%
43
2,006 41% M arlO 4 9 J a n 7
D o p r e f.................
54% 55%
52% 0 0 %
53
51%
Utah C o n s o lid a te d ...
5 19,537 51 M a rl 4 79 J a n 14
6 M a r la 11% F e b 2 7
6%
6%
6 >2
745
6 >2 6%
6%
25
I
*1
*7
*7
7%
7%
VF*
595
7%
*150 155
151 151
150
150%
42 150 A p r 15 198 F e b 11
25
*1
•i
1%
1
1
I M ay22
25
80
3 % J a n 22
1%

c B e fo r e p a y ’ t o fa s s e s s ’ ts c a ile d in 1907.




146
112
184\

2%
*2%
45
*44
83%
86 14
35 %
34
57%
55%
5
4%
*■”4
*%
1
*%
11%
11%
8
8
15 v
15
*•40
25
24
24%
24%
156
151
<•98 *780
26
26
•40
*•35
78%
76%
16% *..........

1%
1%
13 % 13%
*120 . . . . . .
15% l b 1*

16%
15%
16
14
14% 14%
5
*4%
4%
•60
*•50
•60
11% 11%
11%
13% *13
*13
86
8 5%
85
*2%
2%
2%
13
*13% 14
78%
80% 81*2
*1
*1
45
46% 47%
L27
127
125
19%
1 9% 19%
*1
*1
1%
110
113 % 114
4 -8
*4%
*4%
3
•2%
18%
17%
18
105 107
105

133 % 134
L a s t s a le

| H ig h es t

873
913,
215
134
205
ICO't
160
2&<S
J ’ n s ’ O'
J ’n e ’ Or
53
M ay’ Or
23 %
23 <«

86%
913
215
*133
205
* ____

121 % 122
79
*75
*80
86

122
771.
85

Low est

K ange Tor J'reviom
Y ea r (1 9 0 6 )

K a il r o a i ls
A tc h T o p ifc San ta F e lO )
3 4 ‘ , 83% M a r l , 107% J a n 7
Ml
D o p r e f.............
91% J ’ liel 101% Jan
B o sto n & A lb a n y .. .1 0
24, >215 J ’ ne
240 F e b
B o sto n E le v a te d ___ .101
4i 13 i M ay ■ 152 Jan
B oston & D o w e ll___ 10!
li 1205 J ’ n e K , 231 Jan
B o sto n * M a m e ___ I0i
2,7 8i 152 A larK 170 M ay >■
III! i
51
B oston & P r o v id e n c e lO l
........ 297 A p r 1 3 0 1 F e b 25
B o s t S ub urU an E l C o s. .
12 M ar
15 Feb 16
Do p r e f ...............
53 M ay 2. 65 Jan 15
B o sto n & W o r E le c Cos.
92,' 23 M a r l.
28% J an 2

122 122
*76
79
*76
h a s i S a l e S2
iy ? %
17
18
16
16
*15
*16.
*15
57
56% 57
*57 .........
57
*20% 21% *20% 211- L a s t S'cr.ir
164 164 * 1 6 0
164 165
163 165
152
2 i2
* _____ 190
* ..........190
189
190 190
122
77
*80

H anue lo r Year
1907

Sales
o f th
Week
Share

STOCKS
BO STON S T O o K
EXCHANGE

F r id a y
J u n e 14

II N e w s to c k . t A s s ’ tp a id . tE x -rig h D s.

a E x -d iv . <& r ig h t s ,

D ec 101 Jan
Sep 116% A p r
F e b 160% Feb

21 J ’ ly
90 D ec
10 % D e c
26 A u g
128 M aj
130 D ec
128 J ’ly
28 N ov
100% D ec
3% Jan
115 J ’ly
0 % J an
225 D ec
167 D ec
44 May
84 % D ec
190 Mai
3 Jan
‘2 7 M ai
80 M ai
126 D ec
180 D e c
9% Jan
101% J ’lie
22 *4 D ec
25 J ’ly
2 J ’ne
103% May
x60 % D ec
23% Dec
32% J ’ly
99 J ’lie
8 Nov

34

Jan

29
46
156%
141
144%
47%
110%
4%
118%

M ar
Apr
Jan
Jan
Jan
Jan
F eb
J ’ne
M ar

10
250
184
64%
90
210
5%

Aug
J an
O ct
J ’ne
Sep
D eo
Sep

90% N ov
i 41 % A p r
2 68% N ov
11 D e o
120 Sep
23 Fel)
27% N ov
5% D eo
113% M ay
86% P e b
82% J ’ly
5 0 % O ct
113% P elt
17% J a *
98

Jan

4% D ec
8% O ct
3 1 *2 J ’ly 55% D eo
9 2% J ’ly 118 P e b
8 % A u g II4 5 D eo
57% May
2 % J ’ly
% J ’ ne
2 % D eo
•90 Sep
1% J ’ly
10% May 28 *4 J an
25 J ’ly
•45 May
2 0% M ai
25 J ’ly
107 J ’ly
G75 May
17 % .J’ly
•35 D ec
66% P ly
14 M ar

49 a F eb
•JO O ct
35% O ct
42 O ct
184 D eo
900 D eo
40% D e c
‘70 Jan
86 % J an
21% N ov

113 N ov
1% J ’ly
14 *2 May 26% Sep
131 D e c 140 D eo
15% J ’ly

29% J a n

tt% J ’ly
■40 J ’ ne
13 N ov

12% Jan

54% Mar
1% D ec
11 Jan
74% M ai
•70 J ’ ly
33 J ’ly
93 M a i
22% J ’ly
•60 May
80 J ’ly
3% J ’ ly
1 % J ’ly
5% Jan
90 J ’ne

14% D eo
85
7%
23%
117%

D ec
F eb
O ct
Oot

151
48
2%
114
9%
5%
18%
122

D eo
Jan
D eo
Jan
D eo
N ov
N ov
j an

7% J ’ ne
57 % May
9%
51
43
52%
5%
4
131
•70

20% D eo
78 F a b

14% M ar
66 Jan
47 % s e p
69% Jan
9% M ar
2% D ec
1
3% O et
J ’ly
J a n 190 D eo
2% D eo
J ’ly
Sep
M ar
Mai
j ’ ne
Nov

b E x s t o c k d ivid en d .

Boston Bond Record.

J u n e 15 1907.]

A m B e ll T e le p h o n e 4a___ 1908
A m T e le p tfe T e l c o ll t r 4a. 1929
. A m W r it P aper 1 s t s 1 o s g 1919
A t e h <3i N e b r a s k a l a t 7 a ..1 9 0 8
A t c n T od <fo S F e g e n g 4 a .. 1995
A d ju s t m e n t g 4a___ .T’ ly 1995
S ta m p e d ..................J ’ly 1995
B o s to n E le c t L ig h t 1st 6 s . 1908
C on aol 5 s ............................ 1924
B oa ton & L o w e ll 4a........... 1916
B oston tfe M ain e 4*^8......... 1944
B oaton T erm in a l l a t 3*28.1947
B u r <fc M o K iy e x 6 s ........... 1918
N o n -e x e m p t 6 s .................1918
S in k in g lu n d 4 s ............... 1910
: B u tte <6 B o sto n la t Os— 1917
Cedar B ap <fc M o it 1st 7 a .1916
2d 7 a ..................................... 1909
O ent V erm t l a t g 4 s ..M a y l 9 2 0
0 B & Q Io w a D iv 1st 5a. 1919
I o w a D iv 1st 4 a ............... 1919
D eb en tu re 5a.....................1913
D e n v e r E x te n 4 s ............. 1922
N e b ra sk a E x te n 4 a ........1927
B <fe S W 8 t 4a...................1921
Illin oia D iv 3*28............... 1949
J o in t bonds See G t N o rth e rn
C h ic J c K y * Stk Y d s 5s .1 9 1 5
C oll tru st r e iu n d in g g 481940
Ch M il <fc S t P D u b D 6 s .. 1920
Ch M <fc S t P W ia V d iv 6 s l9 2 0
C h icds N o M ie n la t g u 5 a . l 9 3 i
C h ic & W M ich g e n oa ___ 1921
C o n cord & M o n t c o n s 4 a ..1 9 2 0
C on n <fc P a ss K 1st g 4 a ... 1943
C u rr e n t R iv e r l a t 5a......... 1927
D e t G r R a p < f c W l a t 4 a . .. 1946
D o m in io n C oal l e t a f 5 a ..1 9 4 0
F it c h b u r g 5 s .........................1908
4 a ...........................................1916
4 s .......................................... 1927
F r e m t E lk & M o V la t 6 a .. 1933
U n a ta m p ea l a t 6 s ........... 1933
0 t N o r C B & Q c o ll tr 4a 1921
B e g is t e r e a 4 a .....................1921

J -J
J -J
J -J
M-S
A -O
N ot
M-N
M -S
M-S
J -J
J -J
F-A
J -J
J -J
J -J
A -0
M-N
J-D
Q -F
A -O
A-O
M-N
F-A
M-N
M-S
J -J

Low H igh,
96*4 98*4
79
90*4
1T82 H83

H ig h
B id
A s / Low
98 *e
98 ......... 98
79 7b
8 0 's
80 ** Sale
fls2 J ’ n e ’ 07
104 M ar’ 06
97
971a 97*2
97 V
1J87% M ay’ 07
85 *2 89
8 5 34
86
......... 86

96^’ iio i%
1187"g 92
85 \ 9 1 34

lit)
F e b ’ 04
101 Sep ’ 06
114 M a r’ OO
112*2 Jan ’ 03
1D6 14 A p r ’07
106*4 1 07 'a
102 Sep ’ 05
9 9 3s Oc.t ’ 06
100 J ’ n e ’01
123*4 N o v ’ 06
111 ’ 8 J ’l y ’05
26
84
84
109 M ay’05
98=s M ay’ 07
9 8 cs 100*9
?100% M ay’ 07
98
993,
98 S.. A p r ’07
1 0 2 7&J ’ n e'06
97 *2 M ay ’07
97 *2 ” 97*2
90*8 91 v,
9 0 's M ay’ 07

106

'& 5 '

J -J
A -0
J -J
J -J
M-N
J -D
J-D
A -0
A -O
A -0
M-N
M-N
M-S
M-S
A -O
A -O
J -J
li-J

BOND*
BO STON STO C K E X C H ’ G E
. . ' kkk E ndino J une 14

R an ge
Since
Jan u ary 2

W eek's
R an ge or
L a st Sale

P rice
F r id a y
J u n e 14

BOSTON STOCK B X C H ’ S E
W e e k e n d in g J u n e 14

1100*81100*8

101

100>9

95
122
126
97*2

101

100 102*9
94*2 95

F e b ’ 07
A p r ’ 06
F e b ’ 05
A p r ’ 07

97*2 100

100>2 100*2

100*2 102

99 M a r’ 07
112*4 J a n ’ 03
104 N o v ’ 06
89 M a r’ 07
100 J a n ’ 07
98 A p r ’07
1 0 3 1* A p i ’ 05
100 M ay’ 07
1343,i N o v ’ 06
140 A p r ’ 05
91
91*4
91*4 Sain
9 L ........
9 0 7s
90 7g

99

99

89

90

100

100

98

98

100

100

1421

88*4 97*4
9 0 7a 90

Illin o is Steel d eben 5 s ___ 1910 J -J
N o n -c o n v e r t d e b e n 5 a ...1 9 1 3 A -0
l a F a lls A S iou x. C i s t 7 s .. 1917 A-O
K an C C lin & S pr 1st 5 s . . . 1925 A -O
K an C F t S & G u lf l a t 7 s . . 1908 J-D
K an C F t S c o tt & M 68___ 1928 M-N
K an C M & B gen 4 s ........... 1934 M- S
A s s e n te d in c o m e 5 s ........1934 M-S
K an C A M B y * B r 1st 5 s l9 2 9 A -O
M a in e C en t c o n s 1st 7 s . ..1 9 1 2 A-O
C on s 1st 4 s ........................ 1912 A -0
M aro H o u g h & O n t l a t 68.1925 A -0
M ext’ca n C en tral c o n s 4 s .. 1911 J - J
j s t c o n a i n c 3 s ........... J an 1939 J ’ ly
'.(I c o n s m e 3 s ___ . .. J a n 1939 J ’ly
.Mich T e le p la t 5 a .................1917 j - J
M in n e G en E le c c o n g 5s 1929 J - J
N e w E n g C ot T arn 5 s ___ 1929 F-A
N e w E n g T e le p h 6 s ........... 1908 A -0
5 s ........'..................................1915 A -0
5 s ............................................ 1916 A -0
N ew E n g la n d co n s g 5 s ... 1945 J -J
H osfon T e rm 1st 4 s ........1939 A-O
N Y N H & H co n d eb 3 ‘<al95(> J -J
u ld C olon y gold 4 a ............. 1924 F-A
O re g B y <fc N a v c o n g 4 a ..1 9 4 6 J-D
O re g Sh L in e 1st g 6 s ........1922 F-A
B e p u b V a lle y 1st s f 6 s . ..1 9 1 9 J - J
R n tlan d 1st c o n g e n 4*2S.1941 J - J
B u tlan d -C an adian 1st 4s 1949 J -J
S av an n ah E le c la t c o n a 5S.1952 J -J
Seattle E le c 1 s t g 5a..........1930 F -A
T e r r e H a u te E le c g 5a___ 1929 J-J
T o r r in g to n l a t g 5 s ........... 1918 M -S
U n io n P a c B B & l g r g 4 a .1947 J -J
1st lie n c o n v 4a.................1911 M-N
U n ite d F r u it c o n v ge n 58.1911 M -S
U S Steel C orp 10-60 y r 5s . 1963 M-N
W e s t E n d S tr e e t B y 4 s ----- 1915 F -A
G old 4*28..............................1914 M -S
G o ld d e b e n tu re 4 s ........... 1916 M-N
G o ld 4 s ................................. 1917 F-A
W e s te rn T e le p h & T e l 5a. 1932 J -J
W is c o n s in C e n t l a t ge n 43-1949 J - J
W is c o n s in V a lle y l s i 7a. .1 9 0 9 J -J

N o t e — B u y e r paya a c c r u e d in te re a t in a d d itio n t o th e purcliaae p rice fo r all B o s to n Bonda.

115

75

ROMfte
■since
Ja n u a ry 1

W eek’ s
R an ge or
Last s a l e

P rice
F rid a y
J u n e 14

Low

H igtx
Low
! 0 0 78 O ct ’ 06
99 *9 99 v M ay 07
122 N o v ’ Oli
!)8 M ay’ 07
102*2 N o v ’ 06
115 M ay’ 07
117
94*2 D e c ’ O'j
92 M a r’ 07
99 M ay’ 07
113*8 N o v ’ 06
101*4 Sep ’ 05
M aj ’ 04
118
78 1179*4 M ay’ 07
26*2 O ct ’ 06
1 734 A u g ’ 05

” 9 8 ” ” 9 8*4
i ’u " i 2 6 ”
92
99

”92"
101

1179*4 85*2

102 *2 A u g ’ 04
96
97
100 M a r’ 07
100*8 J a n ’ 07

96
100*8
99 >2 100
100 % 100 *8

103% M ay’ 07
101 >2 Sep ’06
^10278 J an ’ 05
n 2 l % M a r ’ 06
102 M ay ’07
107*2 N o v ’ 05
102
M a i’ 02
98*2 M ay’ 06
101*2 Sale 101*2 101*9
97 A p r ’ 07
99*2 N o v ’ 06
U101»4 M a y ’07
llaO 1® A p r ’ 06
108*2 109*9 11234 A p r ’ 07
1195*2 M ay’ 07
■'97*4 " 9 8 " 100 *2 J an ’ 07
1 0 1 34 A p r ’ 07
' 9 7 m " 9 8 " 102% Jan '06
99 *2 M ay’ 07
97 *4 98
91
92
91
92
1194*2 Sep ’ 05
109=8 A u g ’ 05

* N o p r ice F r i d a y ; la te s t bid an d asked.

H igh.

'"98” i b o 34

lo 3 % 10634

101 *3 105
97
97

100=611102
107 11234
94 1J99 %
100*2 100*2

101 \ 102

99*2 100*2
91
99

H F la t price.

Philadelphia and Baltimore Stock Exchanges— Stock Record, Daily, Weekly, Yearly
S h n i-o P r i c e s — N o t P e r C e n tu m P r i c e s
S a tu rd a y
June 8

M onday
J u n e 10

90
>11*2.

*11*2.
48*4 4 8 54
38*4 3 8 3s

9iti8 934
*9
82
62

90

9*2
82
63

20
21
9
*8*4
82*a 82*9
62*2 63*4

92*4 92=8

91*4

W ednesday
J u n e 12

‘ *834 " 9 "
82
82*2
61 *4 62 *2

II618 li^io
60»le
40*2
8*4
23=8

51ili653u18
41*2
42

68
92

52*8
47*8

48

20
.....

91
101S
106”
43
151
91*9

1 4 ’ ,.
......

( F o r B o n d s a n d In a c tiv e
S tocks see b elo w )

B a lt i m o r e
Con. Gaa EL L . & P o w .1 0 0
D o p r e f .....................100
►90*2 91*2 N o rth e rn C e n tr a l.......... 50
S eab oard (n e w ) ............... 100
►13
15
D o 2d p r e f ............. 100
......... ..30
U n ited B y & E l e c t r ic .. 50

96

*11*2 1134

l l s4

P h il a d e l p h i a
37
A m e rica n B a ilw a y s ___ 50
*48*2 49
36*4 37*8 C am bria S t e e l ...... .......... 50 2,384
360
E
le
c
t
r
ic
C
o
o
f
A
m
e
r
ic
a
10
9
34
9\
6 G e n A s p h a lt t r c t f s ___ 100
*4
120
D o p r e f t r c t f s ___ 100
*19
21
9
L ake S u p e rio r C o r p ___ 100
*834
“ ‘ 8 34'“ 9 ”
*834
9
L e a ig h C & N a v t r ctfa. 50 ” 417
8 1 7g 81%
81*2 S2
81*4 82
L e h igh V a lle y ................. 50 1,225
60*4 61
‘ 61*2 62*4
61*2 6 1 7s
125
1 M araden C o...................... 100
* 7a
P e n n s y lv a n ia K B .......... 50 5,286
59 S
5 9 34 GOije 5 9 1Bie 60
40
517
P
h
ila
d
e
lp
’
a
C
o
(P
it
t
s
b
)
.
50
39*2
3 9 \ 3 9 'g
3 9 '8 39%
8
8*6 P h iladelph ia E l e c t n c t . 25 4,839
S h e 8*«
. 8*8
8*8
23
P liila R a p id T ran aitG . . 50 2,9 1 *
23
23
23 *8
23*8 23*4
51816 52*8
51 *4 S l^ ig 4 9 »ie SHio B e a d in g ............................ 50 71,747
41
5
D o l a t p r e f............. 50
*40*2 41 *S *40*2 41*2 *40
30
D o 2 d p i e f ............... 50
'4 0
41
41
41
*40*2 41*2
276
57
D734 U n io n T r a c t-o n ............... 60
5 7 34 58
‘ 57
67*2
91*« 9 1 34 U n ited G as I m p t ............ 50 42,278
91*4 9 2 7s
88*4 91=8
W e lsb a ch C o ...................100
30
*27

48=8 48=8

37
37*4
*9%
9 34
4
4

*48*a 4 8 34
37
37
*9%
9 34

597t

B id

P H IL A D E L P H IA

P H IL A D E L P H IA

B onda
A1 V a l E e x t 7a 191 0 A-O
A l t (fcL V E leo 4 *28’ 33.F -A
A m B y a c o n v 5 a 1 9 1 1 . J-D
A t l C ity la t 5s g ’ 1 9 .M -N
B a lls T e r 1st 5s 1 9 2 6 .J -D
B e rg & E B r w 1st 6a’ 21 J-J
B e th le Steel Os 1 9 9 8 .Q -F
C h oc & M o 1 at 5s 1949 J-J
Ch O k & G ge n 5s ’ 19 J-J
C ol S t R y 1st c o il 5s 1932
Con T r a c o f N J 1st 5 a .’ 33
E <fc A la t M 5s 1920 M -N
E le c <fe P e o T r s tk t r c tfs
E q II G as-L 1 st g 5 s 1928
H <fe B T o p c o n 5s ’ 25 A - 0
In d ia n a p o lis B y 4 s . 1933
I n t e r s ta te 48 1 9 4 3 ..F - A
L e h ig h N a v 4*28 ’ 14.Q -J
B R a 4s g ........1 9 1 4 .Q -F
7*9
32
G e n M 4*28 g . 1 9 2 4 .Q -F
L e h V C 1st 5a g ’3 3 . . J-J
L e h V e x t 4a l 8 t 194 8. J-D
2d 7s 1 9 1 0 .................M -S
C onaol 6s 19 2 3........J-D
A n n u ity 6 s ............... J-D
91*i
G e n c « n s 4s 2 0 0 3 .M -N
L e h V T ra n c o n 4s ’35 J-D
N e w C on G as 5a 1948 J -D
N e w a r k P a ss c o n 5 s T930
101% N Y P h & N o 1 s t 4 s ’ 39 J-J
In c o m e 4s 1 9 3 9 ...M - N
44
N o O h io T ra c co n o a’ 19. J-J
P e n n g e n 6s r 1 9 1 0 ..V a r
32
C onaol 5a r 1 9 1 9 .. . V a r
P e n n & M d S teel c o n 6 a.
......... P a & N Y Can 5a ’ 39. A-O
C on 4s 19 3 9............. A - 0
P e n n S te e l 1st 5 s ’ 17 M -N
16
P e o p le ’ s T r tr ce r ts 4a ’ 43
P C o ls t& co l tr 5a’4 9 M -S
Con<fc c o l t r f s 1951M -N
P h il E le c g o ld tru s t c t fs .
53
T r u s t ce rtifa 4a ...............
P & E g e n M 5 g ’ 2 0 .A-O
G e n M 4a g 1 9 2 0 ..A & O

* B id and a sked p r ice s ; n o sales o n th is day.




F r id a y
J u n e 14

T h u r sd a y
J u n e 13

91*4 91*4
►13*4 17
*11*4

48*4 4 8 34
37*4 38*4
9*2
9=8
4
4

5 9 78
60 7e
40
40
8**
8
23=i
23*4
53« 16
41
*40 •»
42*4 *41
68
68
91*s
92*4

,
I n a c t iv e S t o c k s
A lle g h e n y V a l p r e f___ 50
A m e r ic a n C em en t........60
A m e r P ip e M fg ......... 100
B e il T e le p h o n e ............. 60
C a m b ria I r o n ................. 50
C en tra l C oal <fe C ok e. 100
C onaol T r a c o f N J . .. 1 0 0
D iam on d S ta te S t e e l.. 10
P r e f e r r e d .....................10
E a sto n C on E le c t r ic (>.50
E le c S tora g e B a tt___ 100
P r e f e r r e d ................... 100
irt W a y n e <fcW V ........100
a e r m a n t o w n P a sa........50
In d ia n a p olis S t ........ ..1 0 0
In d ia n a U n io n T r -----100
I n s u r a n c e C o o f N A . . 10
I n t e r Sm P o w & C b em .50
K e y s to n e T e le p h o n e ..5 0
P r e f e r r e d . ...................50
K e y s to n e W a tc h C a s e .1 0 0
L it B r o t h e r s ...................10
L ittle S c h u y lk ill........... 50
M ln eh ill & S c h n y l H ..6 0
N H a v e n I r o n & S t e e l.5
N o rth e r n C e n tra l......... 50
N o rth P e n n s y lv a n ia ..5 0
P e n n s y lv a n ia S a lt........60
P e n n s y lv a n ia S t e e l..1 0 0
P r e f e r r e d .................. 100
P liila Co (P itta ) p r e f ...5 0
P h il G erm an & N o rr la .5 0
P h ila T r a c t io n ............... 60
R a ilw a y s G e n e r a l........10
S u sq u eh Ir o n & S te e l. .6
T id e w a te r S te e l........... 10
P r e f e r r e d .....................10
T on op a h M in in g o f N e v l
U n ion T r ot I n d ......... 100
U n ite d N J R H iteO -.lO O
U n it T r a c P itta p r e f .. 50
W a r w ic k I r o n <fc S te e l. 10
W e s t J e r s e y & S e a S h .5 0
W u stm orela u d C oa l....5 0
W ilkfta G a a & E l e c . .100
j

9 1 34

* ll* a .

*48*2 49
38*4 38%
9 34
9 3*

60*4 60=8
60*4
40
*3 9 *, 3 9 34
8 !i6 S h e
8*16
23%
23*4 23%
62 *g 52l®10 5 2 l l ia
*40
41
41
•40*2 41*2 *41*2
58
*57*2 58*4
92

T u esd a y
J u n e 11

U E x -rig h ts .

105
117

A sk

106
.........

i'0'4 ” 105
i ’0’3 ”
"92*2 ” 9 3 ”
106*4 . . . . . .
.............
106
84 *2
84
6 2 34 63

111*2
118
148

105*8
113*2
99
105
95 V, 96
99 V, 9 9 7„
71
70

||$ 7 .5 0 psud,

L ow est
33 *2 Jan 15
80 M ay29
86 M a r l 4
19*2 F eb 25
35 M ar 15
10 *2 M a r l2

P H H jA D E L P H I A

B id

\A s k

110
108

1-21

B on ds
A n a c o s tia <fc P o t 5a...........
A tl & Ch 1 s t 7 ...1 9 0 7 J-J
A t la n C L B B 4 s l9 5 2 M -S
A t l Coaat L (C t)c tfa 5a J-D
C tfs o f in d e b t 4 s ___ J-J
5-20 y r 4a 1 9 2 5 ..........J-J
B a lt C P a a a l a t 5 s ’ l l M - N
B a lt F u n d g 5 « .1 9 1 6 M .N
E x c h a n g e 3 *28 1930 J-J
B a lt & P l a t 6s m 1 ’ 11 A - 0
B a lt T r a c la t o s .. ’ 29 M -N
N o B a lt D iv 5a 1942 J-D
C e n t’ l B y o o n 5 a l9 3 2 M -N
E x t & Im p 5a.19.32 M -S
Chaa C ity B y la t 5a ’ 23 J-J

f $15 paid,

j: $10 paid,

l o o ';
8 3 v,
74*4
.........

150
96
225
87
21
95
72*9
4*2
99*9
95
105
80
80
101
107*2
100
ib s "
112
105
105
104

H ig h es t
85
85
97
23*4
48
14

Jan
Jan
Jan
Jan
Jan
Apr

H ig h es t

L ow est
9
10
26
7
7
10

35*2 D ec 41 J’ ne
80 O ct 90 J ’ne
97 J ’ly 111*4 D e c
22 D e c 32 J a n
4 8 Dec 62 *2 J a n
13 D ec 19 Jan

48 =8 A p r 1 51 Jail 2 5 0 34 Sep
32»4 M a r l 4 47 *i Jan 24 30 34 Jan
M ar 21 11% Jan 14 11 May
6 N ov
4 M ayl 8
8 Jan 25
19 M a y 2 1 36 J a n 25 31 D ec
634 M ay20 16 Jan 8 14*2 N ov
7S M ar 14 103 Jan 7 100 D ec
57 M ar 14 7 b 7s J a n 5 65 May
O ct
1 Apr 6
2 *2 J an 7
58*2M ar25 70iiie Jan 8 61% J ’ly
39 *2 .J’ n o l i 48*4 Jan 4 47 A p r
VI A p t 4
7*--, M ar 14
6*8 D e c
15V M ar27 §26*8 May 6 c l 9*4 D e c
4 5 34 M ar25 0 9 :,t. Jan V 56*4 May
40 May 24 45% Jan 14 4 3% A p r
39 J ’ ne 6 47 Jan 1 4 44 .May
53 M ar k4 60% J a n 22 58*8 Dec
80 *9 M ar 14 96*8 Jan 5 118 IS May
25 M ay 2 4 30 F e b 18 25 D ec

P h <fc R e a d 2d 5s ’ 3 3 . A - 0
C on M 7a 1 9 1 1 ........J-D
C on M 6s g 1 9 1 1 ....J -D
E x Im p M 4s g ’ 4 7 .A - 0
T e rm in a l 5 s g 194 1. Q -F
P W & B co l tr 4s ’ 2 1 . J-J
P o r tla n d B y 1st 5s 1930.
R o cli Ry<fc L e o n 5s ’ 54J-J
U T r a c I n d g e n 5s’ 1 9 .J-J
U n R y s T r c t fs 4 s ’ 49J<fcJ
U n ite d R y s I n v l s t c o l l t r
s f 5s 19*26.................M -N
U T r a c P it g e n 5s ’97 J-J
W e lsb a ch a 1 5 s 1930..T-D
W lk a-B G & E c o n 5 s ’55J-J
B A L T IM O R E
I n a c t iv e S t o c k s
A la C on s C oal& Ir o n .1 0 0
P r e f ..............................100
A tla n ta <fe C h a r lo tte ..1 0 0
A tla n C oaat L in e R R . IOO
A tla n C o a s tL (C onn)lO O
C anton C o .................... 100
C on s C o t D u c k C o rp . ..5 0
P r e f e r r e d .................... 50
G e o rg ia S o u & F l a . ..1 0 0
la t p r e f ...................... 100
2d p r e f ........................ 100
G -B -S B r e w in g ............100

100

R an ge lo r P rev io u s
Y ea r ( 1 9 0 6 )

R a n g e to r Year
1907

S ales
o f the
W eek
Shares

A C T IV E S T O C K S

B A L T L U O iL K

Chaa R y G & E l 5a ’ 99 M -S
Cliarl C<fe A e x t 5 s .’09 J-J
2d 7 s .................1910 A - 0
C ity <fc S u b la t 5 a ..’ 22 J-D
C ity & S u b (W a s ) l s t 5 s ’ 48
101
C oal & I B y la t 5 s ’ 2 0 F -A
C o l& G r n v 1 st 6 s .1916 J-J
Conaol Gaa 6 a ...1 9 1 0 J-D
97
5a........................ 1939 J-D
81
Gacfc A la 1st con 5s ’ 45J-J
G a Car & N 1 at 5s g ’ 29 J-J
75
G e o r g ia P 1st 6 s . . . ’ 22 J-J
110 l4 G aSo & F la 1st 5a 1945J-J
7 134 G -B -S B r e w 3-4a 1951M -S
2d in c o m e 6a 1951 M -N
K n o x v T r a c l a t 5s ’ 2 8 A -0
L a k e R E l l a t g u 5 s ’ 42M -S
M e m p h is S t la t 5 s ’ 45 J-J
M e t S t (W a a li)ls t 5 s ’ 2 5 F A
M t V e r C ot D u c k 1st 5a.
N p t N & O P l a t 5 s ’ 38 M-N
G e n e ra l 5a___1941 M -S
23 a
N o r fo lk S t l a t 5 a ’ 4 4 . .J-J
92
N o rth C en t 4 Vjs 1925 A - 0
Seriea A 5a 1 9 2 6 -----J-J
S eries B 58 1 9 2 6 -----J-J
26
P itt U n T r a c 5a 1 99 7. J-J
97
P
o
to V a l 1st 5s 1 9 4 1 ..J-J
77*9
S av F la & W e s t 5 s ’ 3 4 A - 0
5
Seab oard A L 4a 1950 A - 0
Seab & R o a n 5a 1 9 2 6 . J-J
100
S ou th B o u n d 1st 5 s ..A -O
U E I L & P I8t4*28’ 29 M -N
95*s U n R y & E l 1st 4s ’49 M -S
110
I n c o m e 4a 1 9 4 9 ........J-D
85
F u n d in g 5a 1 9 3 6 ...J -D
85
V ir g in ia M id la n d —
____
2d aeriea 6a 1 9 1 1 .. . M -S
108*9
3d s e rie s 6s 1 9 1 6 ..M -S
101
4th aer 3-4-5s 1 9 2 1 .M-S
5th seriea 5s 1 9 2 6 .M -S
111
V a (S tate) 3s n e w ’ 32.J-J
116
F u n d d e b t 2-3s 1 99 1. J-J
W e s t N C c o n 6s 1914 J-J
W e s V a C& P 1 st 6 g ’ l l J-J
JfW il & W e ld 5 s .. 1 9 3 5 .J-J

i $35 paid,

a R e c e ip ts ,

b $25 paid.

54 Jan
39*4 N ov
12% N o v
14 Jan
48 Jan
23 34 J a n
118 J a n
86 J ’n e
3i5i6 J a n
73*^18 J a n
a54 *2 M ar
9316 O ct
434*4 J a n
83 J an
‘17*6ia Jan
51 Jan
65 A u g
101 F eb
32 M ar
B id

A sk

92
125
104
107
101
101*9
112
104 hi
109*4
106*4
106*4
116
108
52
21%
104*2
107*2

95
__ . . .
106*2
109
102
102
114
105
110
10634
106*a
118
108*2
53
22
105

......
i o ? ” 109
79*4 7tf34
90
......
105
106
110
110
108
107
108
71
107
107
88
8 5 34
61
79

.....
110*2
......
... ” 72
.....
110
90
86 **
51*4
79*2

105
105
105
106
91 v.
92
105
105*9
110

......
......
......
..........
92*2
93
......
106
114

c $30 paid.

1422

THE CHRONICLE
Im ie s tm e n t
R

A

I L

R

and

O

A

D

[V o l .

l x x x iy

.

lla ilt u a t l J u tc llig c n c e .
G

R

O

S S

E

A

R

N

I N

G

S .

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or m onth, and the last tw o
colum ns the earnings for the period from July 1 to and including such latest week or m onth. We add a supplem entary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period. The returns of the street railways are brought together separately on a subsequent page.
Latest G ross E a rn in g s.
W eek or
M onth.

HOADS.

L atest G ross E a rn in g s.

July 1 to Latest D a te

C urrent
Y ear.

Current
Y ear.

W eek or
M on th .

P rev io u s
Y ea r.

A la G rea t S ou th ern — See S ou t hern R ail w ay.
A la N O & T e x P a c.
117,8381 110,768 2 ,9 8 7 ,2 2 3 2,737 ,476
N O & N E a s t . . . 4th w k M a y
A la & V ic k s b u r g . 4 th w k M a y
58,5 3 7
51,695 1,4 5 4 ,4 1 0 1,271 ,692
V icksburg- Sh & P 4th w k M a y
52,274!
54,293 1 ,507,461 1,188 ,976
24 ,440
3,877i
3,830
35,770
A la T en n & N o r t h . . M a r c h ____
8 ,4 2 9 ,3 5 6 6 ,7 4 6 ,8 7 9 7 7 ,4 3 2 ,9 9 2 67,031 ,712
k A t c li T o p & S F e . A p ril .
A t la n t a & C h ari___ M a r c h ____
378 ,279
379,921 3,2 1 7 ,9 2 5 3,111 ,390
A tla n B irm <Sc A t l ’ c . A pril
915 ,008
148,758} 101 ,934 1,3 0 7 ,5 0 0
A t la n t ic C oa st L in e A p r i l ______ 2 ,4 4 4 ,4 0 9 2 ,1 5 9 ,4 6 2 2 2 ,4 0 1 ,7 4 6 20,464 ,632
7 ,1 0 7 ,6 7 0 6 ,3 0 4 ,7 3 3 6 7 ,6 7 6 ,9 8 7 j64,002 ,210
B a ltim o re & O h io . A p r i l ____
296 ,905
242 ,2 2 5 2 ,6 7 4 ,9 1 7 2,066 ,989
B a n g o r & A r o o s t o o k A p r i l ____
53 ,721
B e lle fo n te C entral
M a y ____
3 ,5 6 2
4 ,3 9 5
54,048
3,439
3,271
38,953
38 ,996
B r id g e to n & S a co R A p r i l ____
188 ,1 0 5
114 ,610 7 ,9 5 8 ,3 2 7 7,452 ,869
B u ff R o c h & P i t t s . . 1st w k Ju n e
A p r i l ______
168 ,127
97,9 0 8 1,514,391 1,306 ,233
B u ffa lo & S u s q .
2 0 8 ,1 0 0
1 34 ,300 6 ,7 3 8 ,1 0 0 5,085 ,300
C a n ad ian N orth ern . 1st w k Ju n e
C a n ad ian P a c ific __ 1st w k J u n e 1 ,5 5 4 ,0 0 0 1 ,2 3 7 ,0 0 0 6 6 ,9 0 5 ,6 7 7 57,395 ,404
217,000j 206 ,700 11,5 0 4 ,0 6 3 10,753 ,574
C en tral o f G e o rg ia . . 1st w k J u n e
C en tral o f N J e r s e y . A p r i l ______ 2 ,3 3 5 ,0 9 5 1 ,3 0 6 ,8 6 7 2 1 ,7 8 4 ,6 6 4 20,033 ,507
3,176!
3,0 2 5
155 ,430
C h a tta n S o u t h e r n .. 1st w k Ju n e
128, 839
C h esapeak e & O h io . A p r i l ______ 2 ,2 0 9 ,6 2 1 2 ,0 0 5 ,8 7 1 20,9 7 5 ,2 3 8 20,210 ,089
7,4981
4,5 8 2
4 0 ,128
Chesterfield & Lane M a r c h ____
29 ,376
C h ica go & A lto n R y A p ril
996,979! 771 ,398 10,7 7 3 ,1 8 8 9,852 ,416
1 61,018
147 ,464 8 ,8 6 4 ,8 9 6 8,242 ,079
C h ic G reat W estern 1st w k J u n e
111 ,081
111,492 5 ,5 8 5 ,2 0 3 5,524 ,501
C h ic In d & L o u is v . 1st w k J u n e
C h ic In d & S ou th ern — See N ew Y o r k Cen tral.
C h ic M ilw & St P aul A p r i l _____ 4 ,9 9 5 ,6 6 4 4 ,3 4 3 ,8 0 1 5 0 ,7 4 2 ,8 5 7 46,309 ,078
C h ic & N orth W e s t - A p r i l _____ 5 ,4 1 0 ,5 9 5 5 ,1 4 8 ,0 1 8 57,123,691 52,585 ,872
9 56 ,842 1 1,831,653 10,904
C h ic S t P a u l M & O . A p r i l ____ _ 1 ,1 3 3 ,1 4 4
C h ic T e r m T ra n R R 4th w k M a y
45,513!
4 6 ,2 9 4 1,568,091 1,580,
R a il w a y
(Jin N O & T e x a s P a c
See S out hern
C incinnati N orth ern — See N ew Y o r k C e n 1trai.
C lev Cin C h ic & St L — See N ew Y o r k C e n tr a l.
183,338; 154,961 2 .0 5 6 ,3 4 5 1.777 577
C o ro la d o M id lan d _ . A p r i l ______
271 ,091 ! 252,881 12,4 9 6 ,2 2 7 10,920 133
ftCol & S o u th S y s . . 1st w k J u n e
246 351
26,375!
21,989
270 ,912
C ol N e w b & L a u r __ A p r i l ______
505 373
69,1 1 4
56,651
595 ,678
C op p er R a n g e ______ M a r c h ____
170, 173
18,892
15,032
182,828
C o r n w a l l..__________ A p r i l ______
373, 031
4 1 ,46S
26,980
403 ,529
C orn w all & L e b a n o n A p r i l ______
445 ,700 ! 399 ,700 19,7 3 6 ,6 6 6 18,282, 480
D e n v e r & R io G r___ 1st w k Ju n e
2 5,024j
23,001 1,2 1 6 ,6 8 4 1,072 ,864
D e tr o it & M a ck in a c ls t w k June
117 ,5 5 7
101 ,219 3 ,9 1 2 ,2 6 7 3.777 ,781
D e t T o l & Ir o n t Sys 4th w k M a y
6 9,516!
6 2 ,164 3 ,0 7 6 ,5 4 6 2 ,839,,170
D u l S o Shore & A t l . 1st w k Ju n e
E r ie _________________ A p r i l ______ 4 ,6 7 1 ,4 0 5 :3 ,5 1 7 ,2 6 2 44,134,214 ! 41,398,,166
E v a n sv ille & T e r JH — See R o c k Isla n d S 'y s te m .
19,,278
1,674!
1,328
15,405
F a irch ild & N E . . . A p r i l ______
587,,286
66,620|
50,621
643,463|
F o n d a J o h n st& G lo v A p r i l ______
224 ,4 8 0
23 7 ,0 4 6 ' 2,5 7 3 ,7 1 6 2,420,,212
G eorg ia R R ________ A p ril . .
G eorgia S o u th & F la — See S ou t hern R ail; w a y .
854,859! 7 74 ,726 4 0 ,7 1 4 ,6 0 4 3 6,875 ,064
G ra n d T r u n k S y s t _ . 1st w k J u n e
88,702 5 ,341,031 4,787 ,165
104,188
G r T r u n k W e s t . . 3d w k M ay
25,597
25,135 1 ,594,530 1.40S ,164
D e t Gr H & M ilw 3d w k M ay
44,494 1,7 2 3 ,2 0 6 1,708 ,966
36,168
C a n ada A t la n t ic . 3d w k M ay
5 ,4 0 7 ,7 0 2 4 158,354 4 8 .2 5 9 ,5 6 8 45,082 ,093
G reat N o r t h e r n ____ M a y ____
222,669 2,5 2 2 ,3 7 2 2,503 ,762
231,840
M o n ta n a C e n tr a l. M a y ____
5,639,542 4 ,3 8 1 ,0 2 3 50,7 8 1 ,9 4 0 4 7,585 ,855
T o ta l s y s t e m ____ M a y ____
59.930 2,2 7 8 ,8 4 0 1.953 ,783
62,242
G u lf & S h ip I s la n d - 4th w k M a y
6 1 3 ,2 3 3
385 ,145 5,5 6 3 ,4 6 0 5,439 ,465
H o c k in g V a lle y ____ A p ril .
4 ,8 3 5 ,1 0 4 4 .258,971 51,7 0 0 ,7 3 8 47,336 ,016
Illin o is C en tra l____ M ay .
113.000 8 ,1 2 8 ,3 8 0 6,368 ,321
109.000
I n t e r & G rea t N o rth 1st w k Ju n e
116 ,760 6 ,5 1 5 ,5 9 9 5,956 .425
135,607
a ln t e r o c e a n lc (M ex ) 1st w k J u n e
55,062 2,9 6 1 ,2 6 7 2,771 ,584
57,376
I o w a C e n tra l_______ 1st w k J u n e
153.001 1 ,931,752 1,783 ,237
2 19 ,139
K a n a w h a & M i c h - . A p r i l ______
6 7 8 ,7 3 “ 7 ,5 4 7 ,9 8 7 6,325 ,257
862 ,635
K a n sa s C ity S o u t h . A p r i l ______
L a k e E rie esc W e s t’ n — See N ew Y o r k Cen trai.
L a k e S h ore & M S ou — See N ew Y o r k Cen trai.
L eh igh V a l l e y ______A p r i l _______ 3,069,581 1,8 1 7 ,1 4 4 29,5 0 0 ,4 4 5 27,198 ,658
4 3,694
430 ,478
4 74 ,185
57,599
L e x in g to n & E a s t . . A p r i l ______
I n c .813 , 623
I n c . 99, 860
L o n g Is la n d ________ A p r i l _______
86,416
851, ,156
120,264
9 83 ,910
L ou isia n a & A r k a n . A p r i l ______
817 ,3 3 0 4 5 ,0 9 0 ,0 6 3 40,176 ,447
9 31 ,175
L o u is v ille & N a s h v . 1st w k Ju n e
152 ,177
11,221
152,756
12,923
M a c o n & B i r m in g .. M a y ______
44,060
44,654
M anistee & N o L a st M a r c h ____
1 3,693
71,523
87",750
7,795
M a n istiq u e __________M a y _______
2 97 ,627
31,765
301! ,737
34,217
M a ryla n d & P e n n . . A p r i l ______
a M ex ica n C e n t r a l .. A p r i l ______ 2,920,991 2 ,5 0 0 ,3 7 2 2 5 ,4 9 6 .1 2 5 23,315, ,445
147 ,076 7 ,8 5 1 ,6 0 7 6,810, ,400
165,777
a M e x ica n I n t e r n a t . 1st w k J u n e
146,500 6 ,7 0 9 ,6 0 0 5 ,855, ,800
144.000
a M e x ica n R a ilw a y . 3d w k M ay
23.930 1 .139,705 1 ,080, ,180
25,265
a M ex ica n S ou th ern 3d w k M ay
M ich igan C en tral
— See N ew Y o r k Cen trai.
694, ,298
738 ,081
13,247
14,578
M in eral R a n g e ______1st w k J u n e
73,418 3 ,5 8 3 ,7 1 8 3,473, ,410
77,0 2 6
M in n eap & St Louis! 1st w k Ju n e
206,360 1 1 ,8 7 6 ,2 1 0 10,718, ,259
276,858
M in n St P & S S M . l l s t w k Ju n e
317 ,333 2 4 ,4 8 5 ,7 2 4 19,856, ,992
4 14,931
M o K an sas & T exa s: 1st w k Ju n e
658 .000 4 3 ,9 1 3 ,3 0 7 3 9 ,876, ,297
78.2.000
M o P a c & Iro n M t . J l s t w k J u n e
30,000 1 ,5 3 4 ,3 2 2 1 ,774, ,313
26,000
C en tral B r a n c h . . {1st w k J u n e
688 .000 4 5 ,4 4 7 .6 2 9 4 1 ,650, ,610
8 08 .000
T o t a l ______________i ls t w k J u n e
9 2,984
436, ,475
743,921
139,700
b M ob ile J a c k & K C D e ce m b e r
M ob ile & O h io
|— See S ou t hern R ail w ay.
130,479
964 ,619 1 0 ,002,364 8 ,9 9 7 ,
N a sh v C h att & St L; A p r i l _____
2 73 ,846 14,779,351 1 2 ,932,
322 ,537
o N a t R R o f M e x ___ 11st w k J u n e
20,884
928 ,422
17.723
H id a lg o & N E __j l s t w k Ju n e
207" ,260
241 ,470
24.723
20,520
N ev -C a l O re g o n ____ M a y
33 918
56,672
5,692
6,540
N e v a d a C en tra l____ M a r c h ____
N Y C h ic & S t L o u is — See N ew Y o r k Cen trai.
7 07 ,503
3 43 ,017 6 ,7 8 1 ,0 4 5 6 ,0 0 8 ,1 7 4
N Y O n t & W estern A p r i l ______

N Y C & H u d R iv e r M ay . .
L a k e S h or e & M S M ay . .
L a k e E rie <5c W e s t ! M ay . .
C h ic In d & S o u t h : M a y __
M ich igan C e n tr a l. M a y __
C leve C C & S t L . M ay . .
P e o ria & K a s te m M ay . . .
C in cin n ati N o z th . M ay __
P itts & L a k e L r ie M av . . .
R u t l a n d _________ M ay . . .
N Y C h ic <5c St L_ M ay . . .
N Y Susq & W e s t . . A p r i l __
N o rfo lk & W e s t e r n . A pril . . .
N o rth e rn C e n t r a l.. A p ril . . .
N o rth e rn P a c ific ___M ay . . .
P a cific Coast C o . . . A p r i l __
d P e n n — L a st P & El A p r i l __
d W e s t o f P & E . IA p r i l ______
P e o ria & K a s t e m ._ !— See N ew
P h ila B a lt & W a s h . jA p r i l ______
P h ila d elp h ia & E rie}F eb ru a ry .
P itts C in C h ic * St L| A p r i l ______
P itts & L a ke E r ie !— See N ew
R a leig h & S o u th p o rt M a r c h ____
R e a d in g R a ilw a y . . ! A p r i l --------C oal & Ir o n C o . . A p r i l ______
T o t a l b o th c o s ___IA p r i l ______
R ic h F re d & P o t ___ A p r i l _______
R io G ra nde J u n e ___ ( M a r c h _____
R i o G ra n de S o u t h . . i l s t w k Ju n e
R o o k Island S ystem ! A p r i l ______
e St L & San F ra n 1A p r i l ______
/' E v a n sv & T er H j A p r i l --------T o ta l o f all l i n e s . 'A p r i l ______
R u tla n d ____________ — See N ew
St J os & G rand Is l.l A p r i l ______
St L ou is & San Fran — See R o c k
St L o u is S o u th w e s t.: 1st w k Ju n e
S ea b oa rd A ir L i n e . .! M a r c h ____
Sierra R a i l w a y ____ ! A p r i l ______
S o u th e rn I n d i a n a . . ! M a y ______
c S ou th ern P a c C o . . A p r i l _____
S o u th e rn R a il w a y ..! 1st w k Ju n e
M ob ile & O h io ___: 1st w k Ju n e
Cin N O & T e x P . 14th w k M ay
A la G reat S o u t h .U t h w k M ay
G eorg ia S o & F l a . ! M a y ______
T e x a s C e n tra l_____ |4th w k M a y
T e x a s & P a c ific ____ 1st w k Ju n e
T id e w a te r & W e s t . A p r i l ______
T o le d o & O h io Cent A p r i l --------T o le d o P e o & W e s t . 1st w k Ju n e
T o le d o St L & W e st jls t w k Ju n e
T o m b ig b e e V a lle y . . 1M a r c h ------T o r H a m & B u ffalo, M a y --------U n io n P a cific S y s t . A p r i l --------V irg in ia & So W e s t . M a y --------W a b a s h ____________ 1st w k J u n t
W e ste rn M a r y la n d - 1st w k Ju n e
W e s t Jersey & S e a . A p r i l _____
W h e e l & L a k e E r ie . 1st w k J u n e
W isco n sin C e n t r a l . .j A p r i l _____
W r ig h ts v & T en nille: A p r i l -------Y a z o o & M iss V a lle y : M ay ---------

Current
Y ear.

July 1 to Lalst D ale.

P revious
Year.

Current
Year.

8,4 1 8 ,6 0 5 7,250.241 87,4 5 7 ,1 7 7
3 ,7 7 0 ,6 6 0 3,652,111 139,735,715
415 ,449
400,445 4 ,6 9 7 ,0 7 3
168,549 2,4 3 1 ,1 1 6
244 ,806
2 ,3 7 1 ,4 6 0 2 .099,087 25,1 1 4 ,2 9 9
2 ,2 9 2 ,4 6 9 1.9S9.663 23 "4 8 ,3 1 9
253 ,430
237,574 2,7 7 3 ,3 6 3
86,263
86,303
949,216
1,300,193 1,314,532 13 ,089,878
2 7 2 ,1 6 8 1 227,120 2.6 4 8 ,5 3 5
891,002
844 ,236 9,415,663
276 ,118
185,500 2.552 510
2 ,6 8 1 ,2 1 9 2,4 0 8 ,4 4 2 25,542,391
1 ,101,102
722 ,602 10,279,481
6,4 0 4 ,7 7 7 5 ,4 6 9 ,5 4 5 6 2 ,800,214
631 ,705
479,460 6,0 1 5 ,5 9 2
13370388| 10249188 128986970
In c. 6,70
I n c . 1 ,29)7,4 00
Y o rk C en !trai.
1 ,435,773 1,235,473 1 3 ,716,974
585,6631 543 ,723 5 ,9 2 3 ,7 9 7
2 ,7 4 7 ,6 7 4 2 ,267,892 25 ,655,321
Y ork Cen !trai.
10,624
6,648
3,9 9 8 ,0 6 9 2 ,461,844
4,121,379! 1,074,565
8,119,448|3,536,409
197,126
166,038
57,198
48,300
10,342|
9,403
5,0 3 0 ,0 4 8 ,3 ,8 0 0 ,2 0 4

8 2 ,135,615
3 7 ,483,666
4 ,8 7 0 ,8 4 0
2,0 5 5 ,0 2 5
2 3 ,0 0 2 ,4 1 0
21,6 0 9 .4 6 4
2 ,8 5 7 ,7 6 8
849 ,085
12,471,824
2 ,4 2 9 ,8 6 4
8 ,8 6 0 .1 8 8
2 ,3 0 1 ,8 8 8
23,4 5 2 ,5 1 3
9,123,381
5 6 ,8 2 4 ,0 7 7
5 ,3 6 2 ,0 1 4
117554170
3,600
12,4 6 8 ,4 7 4
5,8 0 7 ,0 1 5
23,510,73*1

V a riou s F isca l Y ea rs.
A tla n ta & C h a rlotte A ir L in e —
B elle fo n te C en tra l_______________
M anistee & N o rth e a s te rn _______
M a n is t iq u e _______________________
M e x ica n R a ilw a y ________________
M exica n S o u t h e r n _______________
N ew Y o r k C e n tra l----------------------L a k e S hore <& M ich igan S ou th
L ake Erie & W e s te rn _________
C h ica go In d ia n a & S o u th e r n .
M ich igan C e n tra l_____________
C leve C in C h ic & St L o u is ____
P e o ria & E a s te rn _____________
C in cin n ati N o r t h e r n __________
P itts b u r g h <Sc L a k e E r ie _____
R u t l a n d ----------------------------------N ew Y o r k C h ica go & S t L ou is
N o rth e rn C e n tra l________________
d P e n n — E ast o f P itts & E r ie ___
d W e s t o f P itts b u r g h & E r i e ..
P h ila B a ltim o re & W a s h in g t o n .
P h ila d elp h ia & E rte _____________
P itts Cin C h ica go & S t L o u is —
R io G ra n d e J u n c t io n ____________
T e x a s & P a c ific _________________
W e st Je rse y & S eash ore________

AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
M on th ly S u m m aries.
4 th
1st
2d
3d
4 th
1st
2d
3d
4 th
1st

w eek
week
week
week
week
week
week
week
week
week

M ch
A p ril
A p ril
A p ril
A p ril
M ay
M ay
M ay
M ay
Jun e

(41
(42
(44
(43
(47
(43
(41
(41
(47
(38

r o a d s )____
r o a d s )____
r o a d s )____
r o a d s )____
r o a d s ) ____
r o a d s )____
r o a d s )____
r o a d s )____
r o a d s )____
r o a d s ) ____

Cu r'nt Y ea r P rev’ s Year. I n c . or D ec.
S
1 4 ,765,658
9,726,621
1 0,329,969
10,4 1 4 ,8 2 9
1 5,171,383
1 0,161,954
10 ,262,925
10,3 2 6 ,1 0 5
16,4 7 3 ,0 0 9
1 0 ,0 3 4 ,3 0 3

$
1 3 ,485,514
8,688,049
9,045,571
9 ,069,733
12,437,852
8,790 083
8,858,051
8 ,9 1 1 ,3 7 2
14,4 0 3 ,4 9 0
8,6 4 8 ,9 6 4

+
+
+
+
+
+
+
+
+
+

3
1,2 8 0 ,1 4 4
1 ,038 572
1 ,284,398
1,345,096
2,733,531
1.371.871
1 ,404,874
1,4 1 4 ,7 3 3
2 ,0 6 9 ,5 1 9
1,3 8 5 ,3 3 9

%
9.49
11.95
14.19
14.82
21.98
15.61
15.74
15.88
14.37
16.01

M o n th ly S u m m aries.
M on th
M onth
M on th
M onth
M on th
M on th
M onth
M on th
M onth
M on th

Aug
S ep t
O ct
N ov
D ec
Jan
F eb
M ch
A p ri!
M ay

1908
1906
1905
19')6
1905
1307
1907
1907
1907
1907

(118
(122
(119
(123
(127
(123
(122
(118
( 65
( 07

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

C u r’ nt Year P rev’ s Year. I n c . o r D ec.
5
179 ,1 9 1 ,9 4 5
184 ,551 ,47 1
198 ,733 ,22 9
186 696 ,274
1 8 4 ,235 ,59 5
173 ,212 ,30 5
16 2 ,283 ,99 2
1 8 0 ,539 ,53 2
79 ,5 6 6 ,1 5 8
8 3 ,6 1 1 ,4 0 7

5
1 5 9 ,835 ,02 2
1 71 ,553 ,52 0
179 .405 ,26 7
1 7 5 ,727 ,98 5
170 ,746 ,76 9
162 ,623 ,88 3
152 ,555 ,19 1
164 ,6 4 5 ,0 0 9
6 8 ,5 2 1 ,6 3 1
7 2 ,7 2 2 ,0 6 3

£
+ 1 9 ,3 5 6 ,9 2 3
+ 12,997,951
+ 19,327,962
+ 1 0,971,289
+ 13,488 826
+ 1 0,588,422
+ 9,728,801
+ 1 5 ,8 9 4 ,5 2 3
+ 11,044,527
+ 10.8 8 9 ,3 4 4

%
12.11
7.58
10.77
6 .2 4
A °
7
6.5*
2
-2 »
9.65
1 6 .12
14.97

a M exica n c u rre n cy ,
b In clu d e s earnings o f G u lf & C h ica g o D ivisio n ,
c In clu d e s th e H o u s to n & T e x a s C en tral an d its s u b sid ia ry
yea rs,
d C ov ers lines d ir e ctly o p e r a te d , e In clu d e s th e C h ica g o & E a stern Illin ois in b o th years,
f In clu d e s E v a n s v ille & In d ia n a R R .
«
earnings o f C ol. & S o u th ., F t . W o r th & D e n v e r C ity and all a ffilia te d lin es, e x c e p tin g T r in ity ut t fr a z o i V a lle y R R .
fc In clu d e s in b o th years earn in gs
D e n v e r E n id & G u lf R R ., P e c o s S y ste m an d S an ta F e P re s co tt & P h o e n ix R y .




Latest Gross Earnings by Week.— In the table which
follow s we sum up separately the earnings for the first
week o f June. The table covers 38 roads and shows 16.01%
increase in the aggregate over the same week last year.
F ir s t w eek o f J u n e.
B u ffa lo R o c h e s t e r & P itts b u r g h
C a n a d ia n N o r t h e r n _____________
C a n a d ia n P a c if ic ________________
C en tral o f G e o rg ia ----------------------C h a tta n o o g a S o u th e r n _________
C h ic a g o G rea t W e s te rn __________
C h ica g o In d ia n a p & L o u is v ille .
C o lo r a d o & S o u th e r n ___________
D e n v e r & R i o G ra n d e ----------------D e tr o it & M a c k in a c --------------------D u lu th S o u th Sh ore & A t la n t ic .
G ra n d T ru n k o f C a n a d a _______
G ra n d T r u n k W e s te rn _______
D e tr o it G rand H a v e n & M ilw
C a n a d a A t l a n t i c _____________
I n te rn a tio n a l & G reat N o rth e rn
I n t e r o c e a n ic o f M e x ic o __________
I o w a C e n t r a l____________________
L o u is v ille & N a s h v ille __________
M e x ica n In t e r n a t io n a l__________
M in era l R a n g e ___________________
M in n ea p olis & St L o u is _________
M in n ea p olis S t P a u l & S S M . .
M issouri K a n sas & T e x a s _______
M issouri P a cific & Ir o n M t n ___
C en tral B r a n c h _______________
M o b ile & O h io ___________________
N a tio n a l R R o f M e x ic o ________
H id a lg o & N o rth e a s te r n ______
R i o G ra n d e S o u th e r n ________
S t L o u is S o u th w e s te r n __________
S ou th ern R a ilw a y _______________
T e x a s & P a c ific _________________
T o le d o P e o r ia & W e s t e r n _______
T o le d o S t L ou is & W e s t e r n ____
W a b a s h ___________________________
W estern M a r y la n d _______________
W h e e lin g & L a k e E r ie __________
T o t a l (38 r o a d s ) _____
N e t in cre a s e ( 1 6 .0 1 % ) .

190 7.

190 6.

In crea se. D ecrea se.

$
188,105
208 ,100
1 ,5 5 4 ,0 0 0
217 ,0 0 0
3,1 7 6
161,018
111,081
271,091
4 45 ,700
2 5,0 2 4
69,516

$
114 ,6 1 0
134 ,3 0 0
,2 3 7 ,0 0 0
206 .7 0 0
3,025
147 ,464
111,492
252,881
3 99 .700
23,001
62,164

$
73,495
7 3 ,800
3 17 ,000
10,300
151
13,554

854 ,8 5 9

774 ,726

80,133

113 .000
1 16 ,760
55,062
817 ,330
1 47 .076
13,247
73,418
2 0 6 ,3 6 0 '
317,333
6 58 .0 0 0
30,000j
160,8291
273,8461
2 0,884
9,403
163.077
9 94 ,527

2 1 2 ,0 2 1 1
18,1121
6 5,653;
5 14 ,4 8 0
109 ,100
92,383!

1 0 ,0 3 4 ,3 0 3
...............

18,216

1 8,847
2,3 1 4
113,845
18,701
1,331
3,608
70,498
97,598
1 24 ,000

8 ,6 4 8 ,9 6 4 1,3 9 7 ,6 7 4
............... 1,3 8 5 ,3 3 9

1907.

1906.

12,335

In crea se.

$
$
$
P r e v io u s ly r e p o r te d (37 r o a d s ) . 1 5 ,2 9 7 ,5 9 3 13,399,781 1,9 3 9 ,4 4 5
118 ,997
170,419
51,422
A la b a m a G rea t S o u th e r n _______
A la b a m a N ew O rl & T e x P a c —
117 ,838
110 ,768
7,070
N e w O rleans & N o rth e a ste rn
58,5 3 7
51,6 9 5
6,842
A la b a m a & V ic k s b u r g ----------52,274
54.293
V ic k s b u r g S h r e v e p o rt & P a c .
160 ,393
156,455
3,938
C lilca g o In d ia n a p & L o u is v ille .
46.2 9 4
4 5 ,513
C h ic a g o T erm in a l T r a n s fe r ____
3 6 0 ,0 0 6
7 7,3 3 9
2 82 ,667
Cine N ew O rl & T e x P a c _______
117,557
101 ,219
16,338
D e tr o it T o le d o & I r o n t o n ____
2,312
62,242
5 9 ,9 3 0
G u lf & .Ship Is la n d _____________
30,637
21,391
9,246
T e x a s C e n tr a l____ . . --------------1 6 ,4 7 3 ,0 0 9 1 4 ,4 0 3 ,4 9 0 2 ,1 1 3 ,9 5 2
2 ,0 6 9 ,5 1 9

— B a l. o f N et E 'n g s .—
C u rren t
P r e v io u s
Y ear.
Y ea r.
$
$
4 4 ,0 8 4
3 4 ,6 0 8
2 4 0 ,7 6 2
2 4 6 ,4 6 8

B e lle fo n te C e n tr a l_______ M a y
Jan 1 t o M a y 3 1 _______

303
1,515

300
1,5 0 0

2 ,0 3 2
4 ,8 3 3

549
2 ,5 4 4

B r id g e to n & S a c o R i v e r . A p r
Jan 1 t o A p r 3 0 _______

543
5,4 3 0

543
5 ,4 3 0

87
6 ,3 6 7

d e f 245
6,7 2 0

C orn w all & L e b a n o n ____ A p r
J u ly 1 t o A p r 3 1 _______

3,4 8 2
37,0 4 7

4 ,0 7 5
41,561

16,050
169 ,618

4 ,0 8 7
162 ,4 1 9

C u y a h o g a T e le p h o n e C o .A p r
H o u g h to n C o El L t _____ A p r
J an 1 t o A p r 3 0 _______

1 8 ,437
2 ,8 1 2
1 0 ,0 0 0

17,0 5 2
2,8 1 2
1 0 ,0 0 0

14,610
6 ,8 7 9
3 6 ,829

6,628
5 ,7 8 1
3 3 ,6 2 6

L o w e ll E le ct L t C o r p ____ A p r
Jan 1 t o A p r 3 0 _______

1,109
4 ,5 1 3

1,242
3 ,9 5 8

6 ,0 7 7
33,9 9 9

5 ,2 4 4
3 1 ,9 7 7

N e w Y o r k & P e n n s y lv a n ia —
Jan 1 t o M ch 3 1 _______
J u ly 1 t o M ch 3 1 _______

5,6 6 5
17,471

5,061
16,7 3 8

3 ,1 1 3
9 ,2 9 3

d e f3 4 7
5 ,2 9 0

St J o & G r Is la n d _______ A p r
J u ly 1 t o A p r 3 0 _______

20,9 7 9
2 0 5 ,7 1 6

2 1 ,4 3 7
210 ,211

1 9 ,4 5 3
3 6 0 ,4 2 1

T o le d o P e o r ia & W e s t ’n - M a y
J u ly 1 t o M a y 3 1 .............

2 4 ,080
265 ,8 4 3

23,4 3 7
2 5 4 ,0 3 5

d e f3 ,0 3 0
d e f l9 ,2 1 2

6 ,9 5 2
1 9 8 ,8 2 0
d e f l8 ,4 8 7
d e f l8 ,1 1 0

x A ft e r a llo w in g fo r o t h e r in c o m e r e c e iv e d .

$

41,6 3 3

STREET R A IL W A Y S AN D TRACTIO N COM PANIES.
L atest G ross E a rn in g s.

2,0 1 9
781

44,3 3 2

Net Earnings M onthly to Latest D ates.— The table fol­
lowing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statem ent, including al*
roads from which m onthly returns can be obtained, is given
once a m onth in these colum ns, and the latest statem ent of
this kind will be found in the issue of May 25 1907. The
next will appear in the issue o f June 22.
--------Gross E a rn 'g s-------- --------N et E a rn in g s-------C u rren t
P rev io u s
C u rren t
P r e v io u s
Y ea r.
Y ea r.
Y ea r.
Y ea r.
R oads.
$
S
S
S
B angor & A r o o s t o o k .b --A p r
2 9 6 ,9 0 5
242 .2 2 5
111 ,548
9 4 ,4 7 4
J u ly 1 t o A p r 3 0 _______ 2 ,6 7 4 ,9 1 7
2 ,0 6 6 ,9 8 9
9 0 0 ,1 4 7
7 8 9 ,0 1 0
B e lle fo n te C e n t r a l .b ____ M a y
5,5 6 2
4 ,3 9 5
2 ,3 3 5
849
J a n 1 t o M a y 3 1 . ........... • 2 4 ,965
2 2 ,5 6 8
6,3 4 8
4 ,0 4 4
B r id g e to n & S a c o R i v . b A p r
3 ,4 3 9
3,271
630
298
J u ly 1 t o A p r 3 0 ...........3 8 ,9 5 3
38,9 9 6
1 1 ,7 9 7
1 2 ,150
C a n a d ia n N o rth e r n _____ A p r
569 ,9 0 0
5 4 4 ,8 0 0
1 0 4 ,7 0 0
1 9 5 ,7 0 0
J u ly 1 t o A p ril 3 0 _______ 5 ,6 5 9 ,4 0 0 4 ,3 4 0 ,9 0 0
1 ,4 2 7 ,0 0 0
1 ,4 8 5 ,8 0 0
C h ic In d ia n a p * L o u . a . A p r
5 1 2 ,6 9 8
4 9 2 ,0 5 4
164 ,4 9 3
150 ,100
J u ly 1 t o A p r 3 0 _______ 4 ,9 6 5 ,2 2 0
4 ,9 1 1 ,2 0 4
1 ,5 1 7 ,5 1 0
1 ,6 7 3 ,2 6 0
C h ic a g o T erm T r a n s . b . - A p r
149,33T>
1 35 ,922
5 2 ,1 1 8
2 9 ,3 1 4
J u ly 1 t o A p r 3 0 _______ 1 ,4 2 4 ,3 4 1
1 ,4 3 6 ,9 9 0
5 3 8 ,2 8 9
4 9 0 ,9 0 7
C olu m N e w b & L a u . a - . A p r
2 6 ,3 7 5
2 1 ,989
d e f l,7 6 5
1,9 4 4
J u ly 1 t o A p r 3 0 .............
2 7 0 ,9 1 2
246 ,351
3 9 ,8 6 7
4 8 ,2 6 5
C orn w a ll & L e b a n o n . b - - A p r
4 1 ,4 6 8
2 6 ,9 8 0
19,532
8 ,1 6 2
J u ly 1 t o A p r 3 0 - - - - - 4 0 3 ,5 2 9
373 ,031
2 0 6 ,6 6 5
203 ,9 8 0
C u y a h o g a T e le p h C o ____ A p r
6 4 ,3 3 5
5 7 ,0 1 4
3 3 ,0 4 7
23,680
F a ir c h ild & N o r ’ e 'n . b - A p r
1,6741,328
d e f 839
362
J u ly 1 t o A p r 3 0 _______
1 5 ,4 0 5
19,2 7 8
d e f2 ,9 1 6
5 ,2 6 2
F o n d a Joh n s & G i o v . a . A p r
6 6 ,620
50,621
3 5 ,0 5 7
21,4 5 8
J u ly 1 t o A p r 3 0 _______
6 4 3 ,4 6 3
5 8 7 ,2 8 6
3 0 8 ,4 8 2
2 7 6 ,7 1 3
G ra n d T r u n k S y s t o f C a n —
G ra n d T r u n k R y ______A p r 2 ,9 6 1 ,7 5 1
2 ,5 3 2 ,0 3 9
9 5 5 ,2 9 4
8 9 5 ,4 3 6
7 ,6 7 3 ,4 9 6
7 ,0 7 3 ,4 5 7
J u ly 1 t o A p r 3 0 _______ 27 ,7 2 0 ,0 6 8 2 5 ,2 1 1 ,3 8 7
G ra n d T r u n k W e s t ’n . . A p r
5 1 8 ,2 8 2
3 8 7 ,3 7 3
57,911
57,911
J u ly 1 t o A p r 3 0 _______ 5 ,0 3 8 ,3 9 3
4 ,5 1 2 ,1 6 9
7 1 8 ,3 4 4
7 30 ,081
D e tr o it G r H a v & M il .A p r
1 34 ,315
126 ,529
17,0 3 3
38,4 4 6
J u ly 1 t o A p r 3 0 ----------- 1 ,5 2 0 ,2 5 9
1 ,3 4 9 ,5 9 7
3 3 6 ,1 9 2
378,921
C a n a d a A t la n t ic .............A p r
1 3 3 ,8 2 9
133 ,342
d e f7 ,3 0 0
11,1 9 3
J u ly 1 t o A p r 3 0 ............. 1 ,6 2 5 ,1 8 1
1 ,5 8 4 ,4 3 0
105 ,798
3 3 3 ,3 7 6
H ou g h ton Co E l L t C o .a .A p r
19,241
17,2 3 7
9,691
8,5 9 3
Jan 1 t o A p ril 3 0 .............
88,5 9 5
8 0 ,8 0 6
4 6 ,829
4 3 ,626
L o n g I s l a n d .b ___________ A p r
I n c 9 9 ,8 6 0
I n c 15,666
J u ly 1 t o A p r 3 0 .............
I n c 8 1 3 ,6 2 3
I n c 188 ,5 9 9
L o w e ll E le c t L t C o r p . a . A p r
2 4 ,7 2 8
2 1 ,3 9 0
7 ,1 8 6
6,4 8 6
Jan 1 t o A p ril 3 0 _______
1 03 ,647
9 4 ,5 9 2
3 8 ,5 1 2
3 5 ,9 3 5
7.7 9 5
1 3 ,693
d e f 290
6,0 6 8
M a n i s t lq u e .b ................ - . M a y
Jan 1 t o M a y 3 1 _______
2 6 ,2 1 8
3 6 ,6 6 9
d e f2 ,4 8 6
10,207
N e v C a lif & O r e . a ............ A p r
19,320
17,355
8,701
8 ,5 9 6
J u ly 1 t o A p r 3 0 _______
2 1 6 ,7 4 7
186 ,740
120 ,9 6 3
8 2 ,8 2 7




4 7 3 ,1 7 8
5 ,6 6 4 ,7 6 2

Interest Charges and Surplus.— The follow ing roads, in
addition to their gross and net earnings given in the foregoing,
also report charges for interest, & c., with the surplus above
or deficit below those charges.
— I n t ., R en tals. & c .—
C u rren t
P r e v io u s
Y ear.
Y ear.
R oad s.
S
$
B a n g o r & A r o o s t o o k ____ A p r
6 7 ,4 6 4
5 9 ,8 6 6
J u ly 1 t o A p r 3 0 _______
6 5 9 ,3 8 5
542 ,5 4 2

2 1,957
48,691

13",663
11,357
50,459

5 8 8 ,9 6 9
6 ,5 9 6 ,2 1 6

a N e t e arn in gs here g iv e n are a ft e r d e d u c t in g t a x e s .
b N e t e arn in gs h ere g iv e n a re b e fo r e d e d u c t in g ta x e s .

4 ,0 0 0

” 939
34,147
6 1,194
5 3,9 0 0
8,607

--------G ross E a rn 'g s------ - -------- N et E a rn in g s-------C u rren t
P r e v io u s
C u rren t
P r e v io u s
Y ea r.
Y ea r.
Y ear.
Y ear.
Hoads.
$
$
S
$
N ew Y o r k & P e n n s y lv a n ia , b —
Jan 1 t o M ch 3 1 . ...........
2 6 ,7 8 2
25,8 1 1
8 ,7 7 8
4,7 1 4
J u ly 1 t o M ch 3 1 _______
8 5 ,7 9 4
8 0 ,5 0 4
2 6 ,7 6 4
2 2 ,0 2 8
R ic h m F re d s & P o t o m a c A p r
197 ,1 2 6
1 6 6 ,0 3 8
8 2 ,9 1 6
66,971
J u ly 1 t o A p r 3 0 _______ 1 ,5 6 3 ,3 4 9
1 ,3 7 7 ,2 2 9
4 7 8 ,6 5 5
4 7 8 ,9 2 2
S t J os & G r I s la n d _ b ____ A p r
136 ,325
123,441
4 0 ,4 3 2
2 8 ,3 8 9
J u ly 1 t o A p r 3 0 _______ 1 ,4 4 3 ,1 1 9
1 ,2 8 3 ,4 0 1
5 6 6 ,1 3 7
4 0 9 .0 3 1
1 1 4 ,2 5 4
7 7 ,8 1 3
4 4 ,0 3 7
T a c o m a G as L t C o . a ____ M a y ,1 5 6 ,0 1 6
T id e w a te r & W e s t e r n .b .A p r
8,4 6 9
6,715
2,7 3 2
1 ,2 0 5
J u ly 1 t o A p ril 3 0 _______
7 4 ,6 1 3
7 1 ,0 8 3
8,891
1 5 ,4 2 0
T o l P e o r ia & W e s t e r n .b .M a y
1 12 ,776
9 4 ,2 9 3
2 1 ,0 5 0
4 ,9 5 0
1 ,1 9 2 ,4 3 8
246 ,6 3 1
2 3 5 ,9 2 5
J u ly l . t o M ay 3 1 _______ 1 ,1 6 8 ,0 3 8
W a b a s h . b _______________ A p r 2 ,2 1 6 ,2 8 9
1 ,8 9 9 ,4 0 8
J u ly 1 t o A p r 3 0 _______ 2 2 ,6 5 7 ,6 0 1 2 0 ,6 7 5 ,1 7 1

46,0 0 0
2.023
7,352

F or.th e fourth week of May our final statem ent covers
47 roads and shows 14.37% increase in the aggregate over
the same week last year.
F o u rth w eek o f M a y .

1423

THE CHRONICLE.

J u n e 15 1907. J

N a m e of
R oad.

W eek or
M o n th .

C u rren t
Y ea r.

S
M a y ______ 249 ,155
A p ril ______ 101 ,198
A p ril
20,240
A p r i l ______ 184 ,636
A p ril
7,815
1 6,880
A p ril ____
M a y ______
64,030
5 5 ,324
A p r i l ______
68,711
A p ril
72,5 5 8
M a y _____
19,470
A p r il ____
5 8,089
A p r i l --------8 7 ,3 2 4
J a n u a ry
6 458
3d w k M ay
3d w k M ay 119 ,344
16,921
D u lu th S tre e t R y — 1st w k J u n e
E a st S t L o u is & S u b . A p r i l ______ 161 ,203
40,5 3 8
E l P a so E le c t r ic ______ M a r c h ____
F t W a y n e & W abash
93,940
V a lle y T r a c t io n ___ A p ril __ ._
26,267
G a lv e s to n E le c tr ic Co A p r i l ______
A p r i l ______ 263 ,862
W k June 9
35,000
H o n o lu lu R a p id T r &
29,662
L a n d C o ___________ A p r i l --------19,387
H o u g h to n Co S t R y _ _ A p r i l --------53,541
H o u s to n E le c t r ic C o . A p r i l ..........
Illin o is T r a c tio n C o . . A p r i l ______ 2 77 ,724
11,115
J a c k s o n C o n so l T r a c . M a r c h ____
29,914
J a c k s o n v llle E le c C o ­ A p r i l ______
lt an C ity R y & L ig h t A p r i l ___ __ 472 ,6 6 6
4 0 ,8 5 2
L e x & In te r R y s C o - - A p r i l --------11,500
M adison & I n t T r a c _ - A p r i l ______
78,0 0 0
M anila E le c R & L C orp M a r c h ____
M et W e s t S id e K i e v . . M ay ______ 234 ,705
300 ,688
M ilw E le c R y & L t Co A p r i l _____
52,143
M ilw L t H t & T r a c C o A p r i l _____
69,848
M o n tre a l S tre e t R y _ . W k Ju n e 8
N a sh ville R y & L ig h t A p r i l --------- 124 ,857
44,5 5 3
N J & H R R y & F y Co M ay ______
N O R y & L ig h t C o _ . A p ril . . . 4 82 ,128
N o r O h io T r a c & L t _ . A p r i l ___ __ 132 ,844
N o rf & P o r ts m T r C o A p r i l ______ 187 .097
1 46 ,016
N o rth w e ste rn E le v _ _ M ay . . .
19,012
O k la h o m a C ity R y . . M a r c h ____
11,400
P eek sk ill L ig h t & R R A p ril . . .
134 ,516
P u g e t S o u n d E le c R y A p ril
R i o d e J a n e iro T ra m
L ig h t & P o w e r ____ A p r i l ______ 487 ,9 6 5
37,365
R o c k f o r d & In te ru rb F e b ru a r y .
S t J o s e p h (M o) R y L t
67,896
H e a t & P o w e r C o . . M a y ______
183 ,713
S a o P a u lo T r L t & P . M a r c h ____
47,167
S a v a n n a h E le c tr ic Co M a r c h ____
170 ,314
S o u th Side E le v a te d - M ay . . —
S y ra cu s e R a p T r R y . M a y ______ 102 ,889
38,692
F e b ru a r y _
69,081
F e b ru a r y .
A p r i l ______ 164,473
64,0 9 3
W k Ju n e 8
4th w k M a y 163 ,215
F e b ru a r y - ft509,504
U n ite d R y s o f S t L . . A p r i l --------- 8 8 4 ,9 2 3
2 7 ,737
A p r i l ---------

a A m e r ic a n R y s C o .
c A u r E lg in & C h ic R y
B in g h a m to n R y —
B ir m R y L t & P o w e r
B r o c k t o n & P ly St R y
C a pe B r e to n E le c C o .
C en tral P e n n T r a c —
Chari C on R y G a s& E l
C h ica g o & M ilw E l e c .
dOhlcarro & O a k P a rk
C leve P a ln e sv iile & E
C leve S o u th w & C o l - .
D allas E le c C o r p ’ n —

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

P rev io u s
Y ear.
$
1 ,0 0 4 ,1 0 0
327 ,939
8 3 ,4 1 3
5 92 ,111
24 ,210
7 3 ,1 2 2
254 ,748
20 6 ,3 0 2
177 .5 0 3
354 ,3 5 1
6 3 ,4 4 0
1 7 6 ,0 0 0
7 8 ,3 2 7

110 ,914
15,280
148 ,230
30,381

%
1 ,1 0 2 ,9 8 3
3 7 8 ,3 8 4
85,8 8 6
7 2 1 ,7 6 5
2 6 ,324
67,372
2 81 ,284
219,271
2 48 ,233
3 5 8 ,3 4 8
7 1 ,543
2 03 ,728
8 7 ,324
611 1,79 6
2,295,531
329 ,800
6 35 ,762
114 ,1 4 0

79,5 4 3
2 2 ,618
235 ,372
29,511

360 ,9 5 8
102 ,317
_______
761 ,3 1 8

311 .6 3 1
7 9 ,5 7 6
_______
668 .6 4 1

P rev io u s
Y ear.
$
225 ,686
89,981
22,011
155,947
7,2 4 8
18,378
57,357
50,1 5 5
57,014
71,5 2 0
18,202
4 7 ,3 9 4
78,327

2 8 ,0 5 7
17,966
4 7 ,1 7 3
22 5 ,0 8 3
10,191
26 ,226
4 3 5 ,9 0 8
4 0 ,049
8,865
7 2 ,5 0 0
2 1 1 ,9 3 9
2 7 0 ,4 7 9
4 6 ,6 1 4
64 ,092
109,572
41,951
4 9 0 ,5 7 8
11 7 ,3 6 6
128 ,605
126 ,710
11,280
9,905
105,133

11 8 ,6 5 4
70,951
204 ,138
1,1 0 5 ,3 2 3
30,542
125 ,8 5 3
1 ,8 5 3 ,6 6 0
157,572
45,6 7 6
229 ,0 0 0
1 ,1 5 8 .0 1 7
1,188,369*
2 0 8 ,423>
1 ,4 3 4 ,8 0 5
48 4 ,1 4 4
160,555
2,077,841
5 0 8 ,7 2 7
629.014,
680,8881
4 7 ,9 2 4
46,887

2 ,0 1 8 ,6 9 5
303 ,968
5 73 ,9 5 5
8 5 ,5 2 4

111 ,2 4 5
6 1 ,725
1 73 ,846
8 9 3 ,3 8 5
28,991
9 8 ,9 4 9
1 ,6 5 7 ,6 1 9
137 ,5 5 7
35,5 5 2
2 2 0 ,8 8 0
1 ,0 2 3 ,1 8 0
1 ,0 7 5 ,0 3 8
177,051
1 ,2 5 5 ,1 5 3
4 2 3 ,5 0 4
1 44 ,671
1 ,9 8 1 ,9 0 9
4 5 1 ,9 7 3
4 9 5 .3 7 8
6 2 7 ,9 3 2
2 9 ,5 5 3
3 9 ,7 3 4

1 ,8 8 3 ,9 0 2
7 6 ,8 1 4

67,981

68,001
3 2 9 ,1 8 9
1 64 ,754
5 2 9 ,1 4 7
4 7 ,3 0 0
136 ,5 5 6
141 ,2 8 2
7 5 8 ,1 6 0
87 ,573
4 9 0 ,5 8 0
35,872
82,6 8 6
5 4 ,902
145 ,5 5 2
1 56 ,396
660 ,8 9 0
59,593
153 ,162 2 ,3 1 5 ,4 1 3
563 ,906 h i ,047,498
85 2 ,5 9 3 3 ,3 7 9 ,0 8 5
109 ,063
20,263

320 ,3 9 6
5 0 2 ,7 9 8
142 ,7 3 9
7 0 9 ,2 2 5
4 2 5 ,5 7 8
73,711
1 1 4 ,7 3 3
6 1 6 ,5 4 3
_______
2 ,0 6 7 ,4 1 9
1 ,1 6 4 ,1 1 6
3 ,1 3 8 ,8 8 3
8 5 ,0 6 4

32,685

a F igu res fo r th e m o n t h in b o th y e a rs in c lu d e o p e r a tio n s o f th e S c r a n t o n
R y . , a cq u ire d Ja n . 1 1906. b F igu res are fr o m F e b . 1. c T h ese figu res a r e
fo r c o n s o lid a te d c o m p a n y ,
d T h e se are resu lts fo r m ain lin e , f N ow I n ­
clu d e s R a p id R y . S v s t ., S a n d w ich W in d s o r & A m h e r s tb u r g R y . a n d D e t r o i t
M on roe & T o le d o S h o rt L in e R y .
h T h e se are e a rly p re lim in a r y r e t u r n s ;
decrease d u e t o e a r th q u a k e , fire and strik e a m o n g e m p lo y e e s , A u g . 26 t o
S e p t 5 1906.

THE CHRONICLE.

1424

Street R ailw ay Net Earnings.— The follow ing table gives
the returns of S T R E E T railway gross and net earnings
reported this week. A full detailed statem ent, including all
roads from which m onthly returns can be obtained, is given
once a m onth in these colum ns, and the latest statement of
this kind will be found in the issue of June 1 1907. The
next will appear in the issue of June 29 1907.
--------G ross E a rn ’ gs-------- --------N et E a rn in g s-------C u rrent
P r e v io u s
C u rren t
P rev io u s
Y ea r.
Y ear.
Y ear.
Y ear.
R oads.
$
$
$
$
B r o c k & P ly m S t R y . a — - A p r
7,8 1 5
7,248
1,4 1 7
1 ,6 7 7
J an 1 t o A p ril 3 0 .............
26,3 2 4
24,2 1 0
2 ,7 9 4
2 ,1 5 4
C a pe B re to n E lec C o . a . - A p r
16,880
18,378
4 ,1 0 0
5 ,1 8 7
J an 1 t o A p ril 3 0 _______
6 7 ,372
7 3 ,122
1 4 ,7 9 5
2 3 ,251
C en tral P e n n s y lv a n ia ___ M a y
6 4 ,0 3 0
5 7 ,357
1 4 ,1 7 9
8 ,3 8 0
Jan 1 t o M a y 3 1 .............
2 81 ,284
2 5 4 ,7 4 8
4 4 ,4 0 4
18,388
26,267
22,618
9 ,0 4 0
7,5 0 7
G a lv eston E le c C o . a ____ A p r
J an 1 t o A p ril 3 0 _______
102 ,317
7 9 ,5 7 6
3 6 ,2 3 9
2 1 ,948
H o u g h to n C o S t R y . a — - A p r
19,387
17,966
7 ,2 2 4
6 ,3 1 9
J an 1 t o A p ril 3 0 _______
70,951
6 1 ,7 2 5
1 6 ,5 9 3
1 2 ,3 0 5
H o u s to n E lec C o . a ______A p r
53,541
4 7 ,1 7 3
18,2 5 6
16,362
Jan 1 t o A p ril 3 0 _______
204 ,138
1 7 3 ,8 4 6
68,9 7 9
5 4 ,5 8 4
J a ck s o n v ille E lec C o - a . - A p r
29,9 1 4
26,2 2 6
10,367
10,172
Jan 1 t o A p ril 3 0 _______
125,853
9 8 ,949
4 3 ,7 4 2
3 7 ,7 4 4
P u g e t S ou n d E l R y - a ___ A p r
134 ,516
1 05 ,133
4 7 ,6 8 5
3 5 ,3 0 5
S t J os R y L t H t & P o w C o M a y
6 7 ,896
68,001
32,6 1 6
32,815
Jan 1 t o M a y 3 1 _______
3 2 9 ,1 8 3
3 2 0 ,3 9 6
1 52 ,425
152 ,616
S y ra cu se R a p T r R y ____ M ay
102 ,8 8 9
87,5 7 3
4 2 ,2 8 0
3 6 ,9 6 4
Jan 1 t o M ay 3 1 _______
4 9 0 ,5 8 0
4 2 5 ,5 7 8
2 1 2 ,7 1 4
1 8 1 ,3 7 9
W h a t c o m C o R y & L t C oa M a y
27,737
20,2 6 3
10,896
5 ,8 9 0
109 ,063
85,064
44,441
2 3 ,6 0 8
Jan 1 t o M ay 3 1 _______
a N e t ea rn in gs here g iv e n are a fte r d e d u c t in g ta x e s ,
b N et ea rn in gs here g iv e n are b e fo r e d e d u c t in g ta x e s .

Interest Charges and Surplus.
— I n t ., R en tals, cfee.—
— B a l. o f N et E 'n g s .—
C u rren t
P r e v io u s
C u rren t
P r e v io u s
Y ea r.
Y ear.
Y ear.
Y ear.
R oads.
$
$
$
$
B r o c k & P ly m St R y ____ A p r
1,811
1,851
d e f3 9 4
d e f l7 4
7 ,1 5 7
7,3 2 3
d e f4 ,3 6 3
d e f5 ,1 6 9
Jan 1 t o A p ril 3 0 .............
C ape B re to n E lec C o ____ A p r
4 ,2 4 9
4,3 7 6
d e f l4 9
811
Jan 1 t o A p til 3 0 _______
16,9 9 9
17,524
d e f2 ,2 0 4
5,7 2 7
G a lv eston E lec C o _______ A p r
4,167
4,1 6 7
4 ,8 7 3
3 ,3 4 0
Jan 1 t o A p ril 3 0 _______
1 6 ,668
16,6 6 8
19,571
5 ,2 8 0
H o u g h to n C o S t R y ____ A p r
3,946
3,9 3 7
3 ,2 7 8
2 ,3 8 2
Jan 1 t o A p ril 3 0 _______
15,752
15,596
841
d e f3 ,2 9 1
11,530
1 0 ,066
6 ,7 2 6
6 ,2 9 6
H o u s to n E lec C o ________ A p r
Jan 1 t o A p ril 3 0 _______
3 8 ,1 4 4
3 6 ,033
3 0 ,8 3 5
18,5 5 1
J a ck s o n v ille E lec C o -------A p r
3 ,4 9 0
3,3 3 8
6 ,8 7 7
6 ,8 3 4
Jan 1 t o A p ril 3 0 _______
13,915
13,313
2 9 ,8 2 7
2 4 ,4 3 1
29,841
24,371
1 7 ,8 4 4
1 0 ,9 3 4
P u g e t S ou n d E l R y ...........A p r
S y ra cu se R a p T r R y ____ M ay
25,201
23,2 5 7
z l 7 ,2 6 2
z l 3 ,7 6 2
Jan 1 t o M ay 3 1 _______
125 ,577
112 ,401
£ 8 7 ,5 3 9
£ 7 1 ,5 2 5
W h a tco m Co R y & L t --A p r
6,2 8 4
3,759
4 ,6 1 2
2,131
24,9 9 4
13,325
1 9 ,4 4 7
8 ,2 8 3
Jan 1 t o A p ril 3 0 .............

AN NU AL REPORTS.
Annual R eports.— The follow ing is an index to all annua
reports of steam railroads, street railways and miscellaneous
companies which were published in last week’s “ Chronicle.”
The other reports cited since the last editions of the “ Railw ay
and Industrial” and “ Street R ailw ay” sections were shown
in the index last week.
R ailroads—
Page
B a ltim o re C h esapeak e & A t l ___ 1302
G ra n d R a p id s & I n d ia n a _______ 1050
G ra n d T r u n k R y . o f C a n a d a ___1049
M a ryla n d D ela w a re & V ir g in ia . 1303
N . Y . N ew H a v e n & H a r tfo r d
(b a l. sh eet F e b . 2 8 ) ________ ,^.1242
P h ila . B a lt. & W a s h ______________ 992
V a n d a l i a R R ______________________1178
W e s t J ersey & S e a s h o re ________ 1108
W e s te rn N ew Y o r k & P e n n s y l’n i a l l 0 8
Street R a ilw a ys—
A m e r . C ities R y . & L ig h t _______ 1179
C a p ita l T r a c ., W a s h in g to n , D .C .1 3 0 3
C h ica g o C ity R y __________________ 746
C h ic a g o & M ilw a u k ee E le c _____ 1109
C on s ol. R y . (b a l. sheet F e b . 2 8 )-1 2 4 2
G eorg ia R a ilw a y & E le c t r ic ____ 570
H a v a n a E le c t r ic __________________ 746
In te r b o r o u g h -M e tr o p o lita n ______1242
In tern a tion a l T r a c t io n , B u ffa lo . 624
In te r -S ta te R a ilw a y s , P h ila ____ 570
L o u is v ille R y _______________ _____ 567
M e tro p o lita n W e s t S id e , C h ica g o 804
N ew O rleans R a ilw a y & L i g h t - - 868
P h ila . C o. o f P i t t s b u r g h . . 1 10 8, 1121
T w in C ity R a p id T r a n s it________ 446
U n ite d R y s . In v e s t . C o ., San F r.1 1 0 9
U n ite d R a ilw a y s o f S t. L o u is ___ 688
In d u stria ls—
A m a lg a m a te d C o p p e r ___________1363
A m e r ic a n B eet S u g a r____________ 1180
A m e r ic a n C a n ____________________ 994
A m e r ic a n L ig h t & T r a c t io n -------1303
A m e r ic a n P n e u m a t. Ser ..1 1 8 1 . 1244
A n a c o n d a C o p p e r _________ 1 1 8 1 ,1 2 4 3
B eth le h e m S te e l_________________ 1110
B o s to n B e ltin g ___________________ 1365
B u sh T e r m i n a l___________________ 1112

In d u stria ls— (C on.)
C h ica g o E d is o n ___________________ 1304
C la rk sb u rg F u e l__________________ 1305
C o lu m b u s & H o c k in g C oal & I r n l 3 7 j
C o m m o n w e a lth E le c t r ic ________ 1304
C o n so lid a tio n C oal C o . o f M d .-1 3 0 5
C r o w ’ s N e st P a ss C o a l___________ 1245
D ia m o n d M a tc h (co m . r e p o r t ) . 1110
F a ir m o u n t C o a l ................................. 1306
G eneral A s p h a lt __________________ 1245
G eneral E le c t r ic ___________ 1110, 1118
G o ttlie b -B a u e r n s c h m id t-S tr a u s s
B r e w in g ............................ .................1184
In te rn a t. M e rca n tile M a rin e____ 1363
In te r n a tio n a l N i c k e l ____________ 1303
L a n ston M o n o ty p e M a c h in e ___ 994
M on treal L ig h t, H e a t & P o w e r . 1371
N e w E n g la n d T e le p h & T e le g ’h_1125
N iag ara F a lls P o w e r ____________ 1364
O w ens B o ttle M ach in e (b a la n ce
sheet F e b . 2 8 ) _________________ 1305
P a cific M ail S te a m s h ip __________1303
P e n n s y lv a n ia S t e e l_______________ 1111
P ittsb u rg h & F a ir m o u n t F u e l--1 3 0 6
P itts b u r g h O il & G as____________ 1057
P itts b u rg h P la te G la s s _________ 1305
Sears R o e b u c k & C o .( o f f ’1 s ta te .) 1246
S om erset C o a l____________________ 1305
S ta n d a rd S c r e w .................................1185
T e n n . C oa l, Iro n & R R __________1179
U n . B o x B d & P a p . (b a l. sheet) 994
U n ite d C o p p e r ___________________ 1363
U n ite d G as I m p r o v e m e n t - 1112, 1304
U n ite d S ta te s G y p s u m __________1365
U . S. R e a lt y & I m p r o v e m e n t ___ 1180
U n ite d S tates R u b b e r ___________ 1244
U . S. S m e lt ., R e f. & M i n . 1125. 1243
U n ited S tates S teel C o rp . (3 m o s .)1 0 5 0
U n ite d S ta te s T e le p h o n e _________ 1186

H untingdon & Broad Top M ountain Railroad & Coal Co.
(.R e p o r t f o r F i s c a l

Y e a r e n d in g

D ec. 31

1 9 0 6 .)

President Samuel B ancroft Jr. says in substance:
G en eral R esu lts.— T h e y e a r sh ow s a sm all e a rn in g o n t h e c o m m o n s t o c k ,
b u t n o d iv id e n d w a s d e c la r e d th e r e o n , as it w as d e e m e d w ise t o m a k e c o n ­
te m p la te d Im p r o v e m e n ts, w h ic h , w h e n c o m p le t e d , sh o u ld sh o w b rig h te r
p r o s p e c ts fo r a c o n tin u e d d iv id e n d o n th is s to c k th a n h a v e e v e r e x is te d in
th e h is to ry o f th e c o m p a n y .
T h e c o a l sh ip m en ts a g g r e g a te d 1 ,9 3 8 ,2 5 7 t o n s , a n in cre a se o f 134,520
to n s o v e r th e p r e v io u s y e a r .
O f th e t o t a l s h ip m e n ts , 8 3 3 ,8 1 7 to n s o r ig i­
n a te d in th e B r o a d T o p r e g io n , an in cre a se o f 6 0 ,2 9 6 t o n s , a n d 1 ,1 0 4 ,4 3 9
to n s in th e C u m b erla n d r e g io n , an in cre a se o f 7 4 ,2 2 3 t o n s .
T h is sh o w s a
s te a d y Increase In th e sh ip m e n ts fr o m o u r o w n re g io n In th e la st th re e y e a rs .
E q u ip m en t— N ew C a r T r u s ts.— In A p ril an o r d e r w as p la c e d fo r 500
steel h o p p e r -b o t t o m c o a l cars o f 100 ,000 lb s . c a p a c it y .
A c a r tru s t fo r this
e q u ip m e n t w as p la c e d w ith D re x e l & C o. a n d th e P h ila d e lp h ia T r u s t, S afe
D e p o s it & In su ra n ce C o. o n a 1 5 -y e a r basis a a t 4J^ % r a t e , fo r $50 0 ,0 0 0 .
I n S e p te m b e r la st w e p u rch a s e d 100 1 0 0 ,0 0 0 -lb s .-c a p a c it y s te e l h o p p e rb o t t o m c o a l cars fro m th e H e n r ie tta C oal C o ., p a y in g fo r th e m o u t o f th e
re c e ip ts o f th e sale o f o ld ca rs , n o c a r tru s t b e in g n e c e s s a r y . W h e n th e
re m a in in g cars in c lu d e d in th e a fo r e s a id c a r tru s t are r e c e iv e d , o u r c o a l c a r
s u p p ly w ill b e in c o n d it io n t o ta k e ca re o f all o u r t r a ffic .
W e still h a v e
m o r e th a n 1002old w o o d e n c a r s jfo r sale.




[V o l .

l x x x iy

.

O n O c t . 1 1906 th e last p a y m e n t o f $68 ,000 o n o u r c o n s o lid a te d c a r tr u st
w ith th e M e rch a n ts’ T r u s t C o. w a s m a d e , c lo s in g u p th is tru st.
A t t h e b e g in n in g o f th e y e a r w e still h a d 500 cars t o e q u ip w ith a ir b r a k e s,
w h ic h h a v e n o w ail b e e n e q u ip p e d o u t o f e arn in gs.
Im p ro v em en ts .— T o fill u p a tre stle n e a r S a x to n lt w a s fo u n d n e c e s sa r y
to b u ild a c o n c r e te a r c h , w h ic h Is n o w c o m p le t e d , a n d th e tre stle w ill b e
filled u p a t o n c e .
T h is , w ith th e ch a n g e o f lin e a t H u m m e l S ta tio n , w h ic h
is a b o u t 4 m iles lo n g — a c h a n g e m a d e t o a v o id t w o d a n ge ro u s a n d e x p e n s iv e
trestles as w e ll as se ve ra l grad es— w ill r e m o v e th e last tre stle fro m th e
m a in lin e . T h e c o n t r a c t fo r th e c h a n g e o f lin e a t H u m m e l has be e n le t an d
th e c o n tr a c to r s e x p e c t t o c o m p le t e th e w o rk In s ix m o n th s .
F u rn a c es ,
T h e S a x to n F u rn a c e , w h ic h has be e n id le sin ce D e ce m b e r
1903, w a s last S e p te m b e r so ld t o J o se p h E . T h r o p p o f E v e r e t t , P a ., w h o is
m a k in g an e ffo r t t o h a v e lt p la c e d in r u n n in g o rd e r as s o o n as p o s sib le .
T h is p la n t sh o u ld y ie ld q u ite a re v e n u e t o y o u r c o m p a n y w h e n p u t in o p e r a ­
tio n .
Y o u r c o m p a n y w as a s to c k h o ld e r as w e ll as a c r e d it o r o f th e S a x to n
F u rn a ce C o ., w h o s e e sta te has b e e n clo s e d o u t th r o u g h th e U n ite d S ta tes
B a n k r u p tc y C o u rt, a n d a se ttle m e n t In fu ll w as m a d e in D e c e m b e r la s t,
a n d y o u r e c e iv e d a b o u t 25 % o f y o u r t o t a l I n v e s tm e n t In t h e p r o p e r t y
T h e C o lo n ia l Ir o n C o .’s fu r n a c e at R id d le s b u r g a n d M r. T h r o p p ’s fu rn a ce
a t E v e r e tt, w e re in fu ll bla st d u r in g th e y e a r w ith th e e x c e p t io n o f t w o
m o n th s lo s t b y th e la tte r w h ile m a k in g rep airs. A s y o u r c o m p a n y w as a
s to c k h o ld e r in th e C o lo n ia l Ir o n C o . t o th e e x t e n t o f 250 sh ares, it w as c o n ­
sid ered w ise t o a c c e p t an o ffe r fo r th e sale o f this s to c k t o H . H . A d a m s
Jr. a t $120 p e r sh are, th u s c lo s in g o u t as a s t o c k h o ld e r In m a n u fa c tu r in g
p la n ts a lo n g th e lin e .
W ater C on tract.— A n ag re e m e n t w as en te re d in to w ith th e S a x to n W a te r
C o. b y w h ic h t h e y are t o fu rn ish us w ith all th e w a te r u se d In a n d a b o u t
S a x to n , a n d y o u r c o m p a n y w ill b u ild a n e w re s e r v o ir a n d lease it w ith
p ip e s , & c ., t o th e S a x to n W a t e r C o .
W a g es .— A n a d v a n c e o f 5 % in w a g e s w as m a d e t o all e m p lo y e e s , e ffe c t iv e
D e c . 1 1906.
M a in ten a n c e .— T h e p r o p e r t y has be e n m a in ta in e d in e x c e lle n t c o n d it io n .
1,051 y2 to n s o f n e w 8 5 -lb . steel rails w e re la id , a n d 2 1 ,4 6 7 c r o s s -tie s w ere
p u t in td e tr a c k d u r in g th e y e a r .
RESU LTS FOR C A L E N D A R YE AR S.
1903.
C oa l and coke tra ffic—
1906.
1905.
1904.
1 ,1 1 9 ,1 2 8
8 8 5 ,1 9 4
8 5 8 ,9 9 4
6 64 ,091
B r o a d T o p , t o n s ________
C u m b e rla n d , t o n s _______
1 ,1 2 2 ,1 8 9
1 ,0 5 5 ,2 3 5
1 ,1 2 3 ,1 9 6
1 ,3 3 7 ,0 1 0
R eceip ts—
S
$
$
3 68 ,481
5 4 3 ,1 3 5
4 1 2 ,0 4 0
C oal an d c o k e f r e i g h t s ..
429 ,5 7 2
209 ,186
277 ,944
2 79 ,937
O th er fr e ig h ts ___________
2 94 ,775
77,589
90,844
8 3,241
94,612
P a sse n ge r r e c e i p t s ______
21,274
22 ,609
22,248
M ail, e x p r e s s , & c _______
22,391
T o t a l e a r n in g s _______
O pera tin g, & c , e x p en ses
M a in te n a n ce o f w a y ____
M a in te n a n ce o f e q u ip m ’ t
L o ss o n c a r -tr u s t c a r s —
D e p r e c i a t i o n ___ '._______
C o n d u c tin g t r a n s p o r ta ’n
G eneral e x p e n s e s _______
A d d it io n s & im p r o v e m ’ ts

8 41 ,350

7 97 ,467

6 76,531

934 ,532

108 ,529
60,991
77,7 3 7
13.977
13.977
207 .478
60,3 3 2

7 6 ,417
64,6 4 3
38,761
15,530
187,292
61,671

6 1 ,160
56,2 0 5
32,8 5 9
17,044
188 ,486
68,390

80,6 2 7
71,278
36,6 3 4
18,938
2 6 5 ,0 4 3
71,631
19,573

T o t a l e x p e n se s
N e t e a rn in g s ------O th e r In co m e —

5 29 ,044
3 12 ,305

4 4 4 ,3 1 4
353 ,153

4 2 4 ,1 4 4
252 ,3 8 7
1,250

563 ,7 2 4
•370,809
1,250

3 12 ,305
3 53 ,153
T o t a l ...........................
D ed u ct—
106 ,190
In te re s t o n b o n d s , e t c . .
116 ,190
D iv id e n d o n p r e f e r r e d - (7 % ) 1 40 ,000 (5 K ) 110 ,0 0 0
D iv id e n d o n c o m m o n ..

253 ,6 3 7

3 7 2 ,0 5 9

T o t a l __________________
B a la n ce , s u rp lu s ________
A d d b a la n c e Ja n . 1 ______
Charged p r o fit an d lo s s . .

256 ,190
56,1 1 5
4 4 9 ,0 0 9
cr .1.15 8

P r o fit & loss sur. D e c . 31
5 0 6 ,2 8 2
-4 4 9 ,0 0 9
3 55 ,717
3 5 9 ,9 0 6
b R e p re s e n ts $27 ,750 d e p r e c ia tio n in s t o c k o w n e d a n d $16,021 c r e d it t o
co n s tr u c tio n a c c o u n t,
c N e w a lig n m e n t a t C y p h e r,
d In c lu d e s new
a lig n m e n t a t C y p h e r, $69 ,0 1 5 ; d e p r e c ia tio n In s t o c k o w n e d , $ 2 6 ,2 5 0 .
B A L A N C E SH EE T DEC. 31.
1906.
1905. I
1906.
1905.
Assets—
$
S
I Liabilities—
$
S
Construe, and e q u ip .5,953,646 5,820,6231Stock \See R y . a n d 3 ,3 7 i,7 5 0 3.371,750
Current accounts___
44,068
103,9001B onds]Indus. S e c ..2,280,500 2,280,500
59,6821Scrip conv. into stock
197
197
Real e s ta te _________
60,132
66,9341Bills payable_______
20,000
Materials & supplies.
81,457
6 ,5 0 0 1Int. and d iv. unpaid5,819
6,116
______
Stocks o w n e d ______
545! P a y -r o lls ----------------23,695
Insur. car trust cars.
______
20,039
1 54 ,3661V ou ch ers___________
22,420
29,996
C ash.............................
91,811
i Special car tr. fund. .
______
55,388
! Profit and loss______
506,282 449,010
T o t a l .......................6,230,669 6,212,996 j
— V. 84, p. 339.

T o t a l ....................... 6,230,669 6,212,996

New York New Haven & Hartford Railroad.
{Balance Sheets.)
The balance sheets of April 30 1907 and Feb. 28 1907 com ­
pare as follows:
G EN ER AL B A L A N C E SH EE T.
A p ril 30 ’ 07. Feb. 28 '07
A pril 30 ’ 07. Feb. 28 ’07. j
Liabilities—
$
S
Assets! Capital s t o c k .- - 91,878,100 84,471,600
Cost of road and
appurtenances 89,528,509 89,528,509 |Mortgage d e b t .. 27,824,000 27,824,000
|Convertible deE quip. & pers'l
j benture certifiprop.of leased
9.294,492
ca te s o fJ a n . 1
roads ..............11,813,407
• 1906 _______ 20,759,325
Stocks o f leased
,706,625
r o a d s _______ 19,759,579 19,742,616 i N on-convertible
,067,100
Oth. stks. & bds. 49,084,781 43,625,981 j deben’s, 4 % . 40,066,100
; N on-convertible
Marketable stks.
deben's, 3*4 % 15,000,000 15 000,000
and b o n d s ... 28,331,842 22.671,290;
'N augatuck R R .
Real estate at
' 3 H % deben. 2,000,000
2 000,000
Boston& N .Y .
5,210,000 |New debenturesa27,170,000 a27 ,170,000
held for s a le .. 5.210.000
5,910,703 i Obligations to
Cash __________ 6,540,748
9,294.492
leased r o a d s .. 11,813,407
Special deposits 9.455.000 ll,2 5 1 ,1 0 7 j
European loan
Special dep. for
708,032
of 1907, 15
div. and i n t ..
784.251
6,792,0311
years, 4 % . . . 27,985,000
Bills receivable. 12 888,000
|Bills pa ya b le -. . 3,460,000
Due from agents
480,441
& conductors. 3,284.121
2,906,217 j A udit, vouchers
} and accounts. 5,159,897
Due from indiv.
161,619
2,335,623 |Other current lia­
and com pan’ s 3,307,984
bilities ______
3,858,936
290,614
Due from leased
& auxil. c o s .. 15,752,536 15,208,308! Rentals, interj est, & c., acBetterments on
i c r u e d ------------ 2,524,942
2 999,674
leased roads to
709,248 |Special f u n d s ... 1,692,285
1 692,285
be written o ff.
734,304
Premiums on
D ef. charges to
617,793
1,068,515
capital stock
i n c o m e _____
& c---------------316,455
1st Nat. Bk. 4 to
8,722,955
7,373,000 Miscellaneous . .
5-year deben . 5,050,000
235,995
359,220
3,023,150 S u r p lu s .............. 12,837,620 12,835 ^71
Materials & sup. 3,428,063
2,441,585
Special funds___ 2.441,585
Im pr. & susp..
accounts_____
8,192,538
9,942,383
Misc. debit bal’s 3,567,316
553,525
K uhn,I.oeb& Co.
European loan
of 1907, 15
years, 4 % ___ 21,589,584
T o t a l ..............303,111,786 258,546,471
T o t a l ...............303,111,786 258,546,471
a Includes the following non-convertible debentures: "T w o-y ea r debentures,
due 1908, $8,320,000; tw o-year debentures, due 1909, $1,500,000; three-year deben­
tures, due 1910, $3,550,000: four-year debentures, due 1911, $5,000,000; flve-year
debentures, due 1912, $8,800,000.

THE CHRONICLE

J u n e 15 1907.]

See also the balance sheet o f the Consolidated Railw ay Co.
(merged with the N. Y . N. H. & H. R R . on May 31 1907)
below.
The following balance sheets of April 30 1907, furnished
to the N c a v Y ork Stock Exchange, show .the condition of the
parent com pany and its trolley subsidiary, the Consolidated
Railw ay Co., shortly before their merger, which took place
on June 1. The Consolidated Railway Co. recently pur­
chased the property of the New England Navigation Co., the
steamship com pany whose stock was all owned b y the N. Y .
N. H . & H . R R ., and for that purpose increased its share
capital from $10,000,000 to $30,000,000. This last am ount
was all held by the N. Y . N. H . & H. R R . and on June 1,
when it was exchanged dollar for dollar for the shares of the
parent com pany, the shares issued therefor became a treasury
holding of the N. Y . N. H. & H. R R ., and so available for
the acquisition of the stock of the Boston & Maine under
the pending plan (V . 84, p. 1367) or for other purposes.
Comparison of the latest statements furnished to the New
Y ork Stock Exchange with the official reports as of June 30
1906 show that since that date the end of the last fiscal year,
the follow ing additional securities (bonds and debentures)
have been issued and are now outstanding.
N ew

Y o rk N ew H a v en

& H artford — B on d s and D eb en tu res
J u n e 30 1906.
D u e.
Issu ed .

D ated .

Issu ed since
C h ron icle.

4 % 15 -y ea r E u ro ­
A p r. 1 1922 $ 2 7 ,9 8 5 ,0 0 0 V . 84, p . 931
p ea n lo a n ________ A p r . 1 1907
5 % 2 -y ea r d e b e n ___
1906
T o D e c . ’ 08
8 .3 2 0 .0 0 0
V . 83, p . 1591
5 % 2 -y ea r d e b e n ___ Ja n . 9 1907
J a n .91909
1.500.0001
5 % 3 -y ea r d e b e n ___ Ja n . 9 1907
J a n .91910
3,550,000}- V . 84, p . 52,
5 % 4 -y ea r d e b e n ___ J a n . 9 1907
J a n .91911
5 ,0 0 0 ,0 0 0 )
103.
J a n .91912
5 % 5 -y ea r d e b e n ___ J a n . 9 1907
8 ,8 0 0 ,0 0 0 /
C onsolidated R ailw ay.
5 % o o n v . d e b e n s .- M c h .l 1907 M c h .l 1917
$ 5 ,0 0 0 ,0 0 0
V . 8 4 , p . 1114
N e w M il.P a r .ls t M .F e b . 24 ’ 02 A u g . 1 1932
1 ,0 0 0 ,0 0 0 V_____
. 7 8 , p . 823
fM N ote.— T h e la st-n a m e d p r o p e r t y w as a c q u ir e d In D e c. 1906 (V . 83, p .
1 5 2 7 ). T h e rem a in d e r (a b o u t $1,200,000 ) o f th e in crea se in th e b o n d e d
d e b t o f th e C o n so lid a te d R a ilw a y C o. sin ce Jun e 30 1906 is a c c o u n te d fo r
b y th e o u ts t a n d in g b o n d s o f th e fo llo w in g tr o lle y ro a d s r e c e n tly a c q u ir e d
a n d sh ow n in o u r ‘ S treet R a ilw a y ” s e ctio n o f F e b . 1907 o n p a ge 63, v i z .:
W e s t S h ore R y ., N ew Y o r k & S ta m fo r d . T o r r in g to n & W in c h e s te r , B e n ­
n in g to n & H o o s ic k V a lle y , M eriden S o u th in g to n & C o m p o u n c e T r a m w a y .
P r o v id e n c e & B urrill S tre e t R y . a n d W o o n s o c k e t S treet R y .
Statem ent o f O perations J u ly 1 1906 to A p r il 30 1907.
N .Y .N .H . C o n s.R y . |
N .Y .N .H .
C o n s.R y .
& H . R R . C o . S ystem . \ D ed u ctio n s. & H .R R .C O .
S ystem .
$
$
|
(con .)
$
$
G ross e a m in g s .4 5 ,5 97 ,835 4 ,9 8 9 ,6 0 7 I O th er in t e r e s t 300 ,443
85,492
O p er. e x p e n s e s .3 0 ,5 2 4 ,6 1 5 3 ,1 8 1 ,4 4 9 T a x e s __________ 2 ,4 2 5 ,0 0 0
2 9 9 .6 0 8
R e n ta ls o f leased
N et e a r n in g s . 15,073,220 1 ,8 0 8 ,1 5 9
7 5 6 .6 0 8
l i n e s ________ 3 ,0 9 3 ,6 3 8
O th er i n c o m e . . 1 ,9 4 5 ,5 0 3
851,647 D isc, o n d e b e n .
___ _____
11,283
I n t . & e x p . o n l5 T o t . n e t i n c . 1 7 ,0 1 8 ,7 2 3 2 ,6 5 9 ,8 0 6
y e a r E u ro p e a n
lo a n o f 1 9 0 7 .
1 10 ,756
D ed u ction s—
I G uar. N . E . I .
In terest on fu n d 742 ,5 9 8
394,4211
& S. C o ______
.......
145 ,701
d e b t ________
j im p . & b e t t ’ s . 2 ,2 5 0 ,0 0 0
In terest on c o n .
5 54 ,565
P B fd eb t.......... ..
............... ! D iv id e n d s x ____ 5 ,6 4 4 ,3 8 7
3 0 0 "6 6 6
In terest on d e ­
!,1 4 4 ,1 6 2
8 2 3 ,4 6 5 !
b e n tu r e s ____
T o t a l d e d u c .1 7 ,2 6 5 ,5 4 9 2 ,8 1 6 ,5 7 9
B a l., d e f i c i t . . 246 ,8 2 6
156 ,773
x T h e d iv id e n d s here sh o w n are th e p r o p o r tio n fo r th e te n m o n th s o f th e
t o t a l d iv id e n d ch a rg e fo r th e y e a r in th e case o f th e N ew Y o r k N ew H a v e n
& H a r tfo r d , an d in th a t o f th e C o n s o lid a te d R y . th e 6 m o n th s ’ d iv id e n d
p a ld | D e c.3 1 1906 an d th e a c c r u e d d iv id e n d fro m J a n .t o A p ril 1907. T h e
ann u al ra te is 8 % fo r th e N . Y . N . H . & H . R R . a n d 4 % fo r th e C o n so li­
d a te d R y . C o. T h e s t o c k o f th e la s t-n a m e d c o m p a n y Is all o w n e d b y th e
railroa d an d th e t w o c o m p a n ie s w e re m e rg e d o n M a y 31 1 9 0 7 .— V . 8 4 ,
p . 1367,

Consolidated Railway Co., Connecticut.
(jBalance Sheets.)
The'balance sheets of April 30 1907 and June 30 1906 com­
pare as follows:
G EN ER AL B A L A N C E SH E E T.
A pr. 30 ’07. June 30 ’ 06. |
A pr. 30 '07. June 30 ’06Assets—
$
S
I Liabilities—
8
$
Cost elect, d e p t . . . 34.159,930 26,964,624|Stock— Cons. R y . 30,000,000 10,000,000
Cost marine dep t. 18,321,467
................ IStock— Leasedand
Due from leased cos 732,068 _________I controlled lines.
76,658 _________
Miscellaneous inIConsol. R y . bonds 8,445,0001
[32,229,400
vestm en ts.......... 2,101,936 5.253,1981Bonds leased and
Materials & supp.
850,217
207,689! controlled lines. 2,199,6661
C a s h . . . ..................
376,692
114,313 IConsol. R y . debs. .28,500,000 J
Cash in hands o £
lH artf St. R y . debs 310,000
_________
agents..................
38.976
17,7731Notes payable____
703,898
................
Deposits lor couIAccounts payable. 1,476,134
479,252
pons and d i v s ..
145,422
260,939jCoup. int. & divs.
Notes & bills r e c .a l2 ,758,563 10,016,400! p a y a b le _______
139,197
260,226
A ccts. receiva ble.. 1,463,834
92,933 ! Accrued liabilities.
971,477
324.655
Prepaid & accrued
1A cc. & casualty fd
68,339 _________
accounts, d i e .. .
179,554
8 .0 3 3 1Reserves ................
583,483
96,012
a cc. inc. on notes
j Profit on sec. sold.
71,012
_________
?r«& secur. ow ned.
165,779
72.2721 M iscellaneous____
11,526
13,649
Discount on debs.
652,654
662,287IConn. R y . & Ltg.
Marine disaster acct 182,782
_________! contingent liabil
260,548
..................
Im pt„& c..susp.acct 1,809,838
10,6571Profit and loss____
159,701
277,925
M iscellaneous-----30,927
_________|
T otal.....................73,976,639 43,681,119j

T o t a l....................73,976,639 43,681,119

a Includes $9,369.243 note of New England Investm ent & Security Co. given
in payment for securities of certain street railways in Massachusetts, and also in­
cludes notes for advances made to-controlled companies.

As to outstanding debentures and the exchange of the
same for stock of the New York New Haven & H artford R R .,
see V. 84, p. 1113, 1114.— V. 84, p. 1242.
Philadelphia Electric Company.
(Report for Fiscal Year ending Dec. 31 1906.)
President Jos. B. McCall, under date of April 10, says:
R ed uction in R ates— In crea sed B u sin ess.— O n F e b . 1 1906 w e r e d u ce d ou r
15 -cen t o v e r h e a d , a lte rn a tin g cu rre n t d istricts t o a u n it basis o f 10 cen ts
p e r k ilo w a tt h ou r; a p p lie d th e e x istin g sca le o f d isco u n ts t o th e n ew b ase
r a te , a d o p te d sp ecia l d isco u n ts fo r resid en ces an d a fu rth er d isco u n t o f 10 %
in all d istricts fo r con su m ers u sin g th eir fu ll in sta lla tio n o f lig h t o r p o w e r on
a n a v e ra g e o f t w o h ours p e r d a y .
A s is gen era lly k n o w n , th e p rice fo r c it y
lig h tin g w as also re d u ce d fo r th e y e a r 1906. T h e to ta l r e d u ctio n s to the
con su m ers and th e c it y , b ased u p o n th e av era g e re v e n u e fo r th e y e a r ,
a m o u n te d in th e ag g reg a te t o $ 3 6 9 ,5 9 5 .
N o tw ith s ta n d in g th is, th e re v e n u e
fro m th e sales o f c u rre n t Increased $2 7 9 ,3 7 4 o r a b o u t 7 % grea ter th a n fo r th e
y e a r 190 5, th e b a la n ce o f Increase In gross e a m ln g s b e in g fro m m erch a n d ise
sales an d o th e r s o u rce s .
•
• •




14*25

T h e to ta l n u m b ers o f la m p s c o n n e c te d a t th e en d o f th e y e a r , D e c. 31
1 90 6, is e q u iv a le n t t o 1 ,2 7 3 ,8 6 2 16 c . p . la m p s , an in crea se o v e r la st y e a r o f
201 ,719 o r 18.8 % ; a n d th e Increase In th e n u m b e r o f con su m ers Is 2 ,8 9 9 .
T h e p e rce n ta g e o f Increase In c o n n e c te d lo a d fo r 1906 o v e r 1905 is m u ch
grea ter th a n in a n y o f th e p r e c e d in g years.
T h e p o w e r lo a d , w h ich has b e c o m e th e m o st Im p o rta n t p a rt o f o u r b u si­
n ess, I n v o lv in g , as It d oes, a greater use o f o u r in v e stm e n t, in crea sed d u rin g
th e y e a r 7 ,7 0 0 h . p .; an d th e receip ts fro m th is d e p a rtm e n t w ere 3 0 %
grea ter th a n in th e y e a r 1905.
C on stru ction .— D u rin g th e y e a r w e h a v e e x p e n d e d u p o n o u r c o n s tr u c tio n
a c c o u n t, $ 1 ,3 7 1 ,7 8 7 .
W e have added:
O v e rh e a d p o le l in e s ____
25.4 m ilesl G e n e r a t o r s ____________ 2 9 8 5 .6 K .W .
H. P.
O v e rh e a d w i r e __________ 306 .0 “
IB o i l e r s ________________ 602
U n d e r g r o u n d d u c t --------10.4 “
j E n g i n e s .............................. 3382
H . P.
U n d e r g r o u n d c a b l e s ___ 106 .6 “
|A d d it io n a l b u ild in g s , C h ester, P a .
G en eral o ffic e b u ild in g , 10th a n d C h estn u t s t s ., P h ila d e lp h ia .
R e a l e s ta te , 3945 M ark et S t. a n d N o b le a n d M arsh all s tre e ts, P h ila d e lp h ia
O u r n e w o ffic e b u ild in g a t T e n th a n d C h estn u t stre e ts , P h ila d e lp h ia , is
n e a r in g c o m p le t io n , a n d a p o r t io n o f it Is n o w o c c u p ie d b y th e T rea s u rer’ s
D e p a r tm e n t. W e e x p e c t t o e n ter in t o fu ll o c c u p a n c y o f th e b u ild in g b y
M a y 1 1907; a n d e x p e c t lt w ill b e r e a d y fo r In s p e ctio n b y th e first o f J u n e.
W e h a v e c o n t r a c te d fo r t w o 5,000 K . W . t u r b o g e n e ra to rs , b o ile rs , p ip in g
& c ., t o b e d e liv e re d a n d e r e c te d a t th e C h ristian S tre e t S ta tio n b y O c t ., 1;
w h ic h w ill in cre a se th e c a p a c it y o f th is s ta tio n t o 30,0 0 0 K . W .
W e h a v e also arra n g e d fo r th e c o n s t r u c tio n o f s u b -s ta tio n s , w ith tra n s­
fo rm in g c a p a c it y , as fo llo w s :
1113 A r c h S t ____________ 3,0 0 0 K . W . I M arshall a n d N o b le sts .3 ,0 0 0 K . W .
3945 M ark et S t __________3,000 K . W . ] K e n s in g to n a n d E rie a v s 2,0 0 0 K . W .
W e also e x te n d o u r u n d e rg ro u n d s y s te m , n o t o n ly t o c o n n e c t th e se sta ­
tio n s , b u t t o a d d t o th a t a lre a d y c o n s tr u c te d in th e h ea rt o f th e c it y .
Con nected L oa d 16 c. p . on D e c . 31.
1906 __________ 1 ,2 7 3 ,8 6 2 1 1 9 0 4 ___________ 9 6 8 ,2 7 0 11 9 0 2 . . .............
7 6 8 ,9 3 0
1905 __________ 1 ,0 7 2 ,1 4 3 | 1 9 0 3 ___________ 8 7 7 ,2 0 8 | 1 9 0 1 ___________ 675 ,9 9 5
RESULTS FOR C A LE N D AR YEARS.
1906.
1905.
1904.
C o n n e c te d lo a d D e c . 31 (16 c . p . ) _______ 1 ,2 7 3 ,8 6 2
1 ,0 7 2 ,1 4 3
968 ,2 7 0
G ross in c o m e , all c o m p a n ie s ___________ $ 4 ,5 0 3 ,8 7 8 $ 4 ,1 0 4 ,1 1 4
$ 3 ,8 7 3 ,9 1 1
G en eral e x p e n s e s ________________________ 2 ,4 0 6 ,4 5 6
2 ,0 1 4 ,9 3 8
1 ,9 0 3 ,5 0 2
T o t a l n e t i n c o m e ___________ ______ .$ 2 ,0 9 7 ,4 2 2
$ 2 ,0 8 9 ,1 7 6 $ 1 ,9 7 0 ,4 0 9
Interest o n —
E d is o n E le c t r ic T r a c tio n 5 s ______________
$99 ,7 1 5
$99 ,7 1 5
$ 99 ,715
h ila d e lp h la E l e c t r i c T r a c t io n 5 s _______
5 6 3 ,4 0 3
5 6 3 ,4 0 3
5 6 3 ,4 0 3
P h ila d e lp h ia E le c t r ic T r a c t io n 4 s ____ A b t.6 0 0 ,5 0 8
600 ,5 0 8
6 00 ,508
13,079 1 4 ,534
_____________
O th er c h a r g e s .............................. ...................
D iv id e n d (5 %Jon a m o u n t p a id in) ____
4 9 9 ,9 3 5
4 9 9 ,9 3 5
4 0 6 ,2 6 1
$ 1 ,7 7 6 ,6 4 0 $ 1 ,7 7 8 ,0 9 5 $ 1 ,6 6 9 ,8 8 7
.......... - .....................
$32 0 ,7 8 2
$311,081
$3 0 0,52 2
B A L A N C E SH E E T D EC. 31.
1906.
1905.
1906. I
1905.
A
<c
©
| T.osihiT'ltipQ—
.
S
Subs, to cap. st’k . 14,989,050
14.989,050 |Capital stk. (am t.
Installments..........
5,403
7,9551 c a lle d )...............9,998,700
9,998,700
C a s h .....................
298,125
923 ,3171Am ount subject to
Charter and organ
15,631
25,6311 assessm ent____ 14,989,050 14,989,050
Stocks misc. c o s ..19,369,100
19,359,2201Land Title & Trust
A dvan.sub’y c o s .. 5,687,663 5,066,4641 Co. (trustee) ..1 5 ,0 1 4 ,1 4 2 15.014,142
Phila.Elec.eold 4s 1,396,565
1,432,0671A c c ’ts p ayable___ 666,7481
A cc’ts receivable.
539,198
444,116 |Acc’d ta x e s ..........
64,7 1 1 1
379,697
315,7591Accrued paym ’ts on
i
S u p plies_________
Miscellaneous____
5.850
5 ,8 5 0 1 trust certificates. 165,7791 1,155,799
|A ccr’d sundries . .
54,6331
|Profit and lo s s ___1,732,520]
1.411.738
Surplus

T otal.................. 42,686,283 42,569,4281 T o t a l........... ...4 2 ,6 8 6 ,2 8 3 42,569,428
T h e fo llo w in g Item s a p p e a r o n th e b o o k s o f th e su b s id ia r y c o m p a n ie s In
b o th y e a r s , v iz .:
A s s e ts— M isce lla n e o u s s to c k s o f c o m p a n ie s o w n e d b y su b s id ia r y c o m ­
p a n ie s d e p o s ite d a n d u se d as basis o f Issue o f g o ld ce r tific a te 5s o u ts ta n d in g
( to ta l $ 1 3 ,2 6 2 ,3 6 0 ), n a m e ly :
L ia b ilities— E d is o n E le c t r ic L ig h t C o. g o ld tru st ce r tific a te 5s, $ 1 ,9 9 4 ,3 0 0 ;
P h ila d e lp h ia E le c t r ic g o ld tru s t ce r tific a te 5s, $ 1 1 ,2 6 8 ,0 6 0 .— V . 8 4 , p. 8 7 1 .

Amalgamated Copper Company.
([Operations of Sub-Companies for Year ending June 1 1907.)
The follow ing figures have been com piled from the rather
blind statements filed annually for taxation purposes with
the County Assessor at Butte, M ont., covering the value of
the ore mined, bu t n ot, it is said, the miscellaneous receipts
of the several companies.
-T o n s O re1 90 6 -0 7 .
1905-06.
B u tte & B o s t o n ......................... 3 31 ,630 . 2 46 ,593
P a r r o t ............... ............................
84,681
163,519
B o s to n & M o n ta n a ___________ 1 ,1 3 6 ,7 8 5 1,2 0 9 ,8 0 5
A n a c o n d a ____________________ 1 ,4 0 1 ,9 4 8 1 ,5 2 1 ,3 1 0
T r e n to n (C ol. S m e lt .)_______ 146 ,955
168 ,770
W a s h o e _______________________ 1 24 ,608
9 5 ,210

-G ross R eceiv ts
1 90 6-0 7.

T o t a l A m a lg a m a t e d _______ 3 ,2 2 6 ,6 0 7 3 ,4 0 5 ,2 0 7 $ 4 1 ,1 0 5 ,5 4 9 $ 3 9 ,0 3 8 ,1 7 5
-N e t R ec e ip ts1 90 6-0 7.
1 90 5-0 6.
1 90 4-0 5.
1 9 0 3 -0 4 .
1 90 2-0 3.
B o s to n & M o n t . $ 7 ,0 2 9 ,9 8 8 $ 6 ,1 5 8 ,1 0 9 $ 5 ,8 5 5 ,6 2 0 $ 4 ,5 7 4 ,4 9 8 $ 4 ,0 5 3 ,4 6 5
A n a c o n d a ______
5 ,8 1 9 ,2 0 2
5 ,7 5 3 ,2 6 5 2 ,2 5 9 ,6 9 3 1 ,2 5 9 ,8 7 5 1 ,6 0 1 ,2 0 0
B u tte & B o s t o n
1 ,2 4 9 ,4 6 7
1 ,0 7 5 ,8 9 2
178 ,712
96,853
202 ,4 0 8
P a r r o t ..................
141,731
2 77 ,015
3 28 ,106
2 3 3 ,9 6 4
586 ,3 6 5
4 8 1 ,6 2 4
5 4 1 ,5 2 8
7 0 ,1 1 0
7 4 ,8 3 2
4 3 ,0 9 0
T r e n t o n ________
T o t a l . . ............. $ 1 4 ,7 2 2 ,0 1 2 $1 3 ,8 0 5 ,8 0 2 $ 8 ,6 9 2 ,2 4 1 $ 6 ,2 4 0 ,0 2 2 $ 6 ,4 8 6 ,5 2 8
N o te .— T h e W a s h o e C o m p a n y sh ow s n e t r e c e ip ts o f $ 4 5 6 ,1 9 0 , as a ga in st
$ 3 5 6,16 4 in 1906, b u t Im p ro v e m e n ts a b s o r b e d $ 7 2 3 ,1 6 3 , a g a in st $53 2 ,8 8 3
in 1906, le a v in g an a p p aren t d e fic it o f $ 2 6 6 ,9 7 3 , a g a in s t $17 6,71 9.

The following additional facts are obtained from
reports to the County Assessor:
A n a co n d a .
T o n s ore m in e d ....................
1 ,4 0 1 ,9 4 8
G ross p e r t o n _____________
$12 23
M in . c o s t p er t o n _________
$4 47
G ross p r o c e e d s ____________ $ 1 7 ,1 4 7 ,4 2 0
M in in g c o s t s ............. ..............
6 ,2 6 7 ,1 6 8
R e d u c tio n c o s t .......................
3 ,5 3 2 ,6 8 7
T r a n s p o r t a t i o n ___________
2 2 0 ,8 0 7
M a rk e tin g ................................
1 ,3 0 7 ,5 7 4
T o t a l c o s t s _______
N e t p r o c e e d s _______
— V . 84, p . 1363.

..$ 1 1 ,3 2 8 ,2 3 5
. . $ 5 ,8 1 9 ,1 8 5

the

B .& M o n t.
1 ,1 5 6 ,7 8 5
$14 37
$3 92
$ 1 6 ,6 2 9 ,6 4 3
4 ,5 4 1 .8 8 5
3 ,0 8 9 ,4 2 8
8 8 0 ,5 4 8
1 ,0 6 7 ,7 9 5

P a rrot.
84,6 8 1
$10 54
$5 64
$ 8 9 2 ,9 1 4
4 7 7 ,7 0 7
1 8 4 ,9 6 7
15,2 4 3
7 3 ,2 6 7

B u tte & B .
3 3 1 ,6 3 0
$10 89
$3 79
$ 3 ,6 1 1 ,6 5 1
1 ,2 5 7 ,3 7 3
7 5 1 ,6 3 6
69,2 4 6
2 8 3 ,9 2 9

$ 9 ,5 7 9 ,6 5 6
$ 7 ,0 4 9 ,9 8 8

$ 7 5 1,18 4
$14 1,73 1

$ 2 ,3 6 2 ,1 8 4
$ 1 ,2 4 9 ,4 6 7

Montreal Light, Heat & Power Company.
(jReport for Fiscal Year ending A pril 30 1907.)
The report of President H. S. H olt, presented at the an­
nual meeting on Jan. 5, says in substance:
G en eral R esu lts.— T h e e arn in g s fo r th e y e a r sh ow a n Increase o v e r th e p r e ­
v io u s y e a r o f $ 2 6 7,38 8 gross, an d $16 2,09 6 n e t, w h ic h Is c o n sid ered sa tis ­
fa c t o r y in v ie w o f th e c o n tin u e d in crea se in c o s t o f m a terial an d la b o r .
T h ere h a v e be e n d e cla re d fo u r q u a rte r ly d iv id e n d s o f 134 % e a c h , a m o u n t in g
t o $ 8 5 0 ,0 0 0 , le a v in g a b a la n c e o f $ 5 9 0 ,5 8 2 , w h ic h , a d d e d t o th e su rp lu s o f
$90 1,15 8 b r o u g h t fo rw a r d fro m last y e a r , b rin g s th e su rplu s t o $ 1 ,4 9 1 ,7 4 0
o u t o f w h ic h a p p ro p r ia tio n s h a v e b e e n m a d e t o th e a m o u n t o f $ 3 8 6,89 2
as fo llo w s :
D e p r e cia tio n , re n e w a ls, e t c . $ 2 5 5 ,0 0 0 1C o n tin g e n t a c c o u n t ________
$50 ,000
In su ra n ce f u n d ______________
5 6 ,8 9 2 1S u sp en se a c c o u n t __________ _ 25,000

1426

THE CHRONICLE.

T h e o b j e c t o f th e suspen se a c c o u n t (n o w a g g r e g a tin g $ 76 ,338 ) is t o p r o ­
v id e fo r d a m a g e su its, a d v e r s e litig a tio n , e t c .
B o n d s .— T h e re w ere issu ed d u r in g th e y e a r $ 4 4 7,00 0 4 H % b o n d s t o
r e p a y th e c o m p a n y 75 % o f th e e x p e n d itu r e m a d e d u r in g t h e y e a r fo r e x t e n ­
sion s in th e gas a n d e le ctr ic d e p a rtm e n ts .
O w in g t o th e d e p re sse d c o n d i­
tio n o f th e b o n d m a rk et th r o u g h o u t th e y e a r , th e sale o f th e se b o n d s has
b e e n w ith h e ld a n d t h e y are a t p re se n t in t h e tre a s u ry .
A d d itio n s , E t c .— D u r in g t h e y e a r th e c o m p a n y has c o m p le t e d a d a m o n
t h e R ic h e lie u R iv e r at S te. T h erese fo r s to ra g e p u rp o s e s a n d also a t th e
s a m e tim e t o d r o w n th e ra p id s a t th a t p o in t w ith a v ie w t o o b v ia t in g th e
t r o u b le a t th e C h a m b ly p la n t fr o m fra z il ic e .
D u r in g th e p a s t w in te r th e
d a m has fu lly d e m o n s tr a te d its v a lu e .
T h e c o m p a n y has a d d e d t o Q u een S tre e t S ta tio n a 2 ,0 0 0 H . P . tu rb in e
u n it, a n d n o w has a v a ila b le at th is a n d its o th e r s te a m s ta tio n s a t o t a l
c a p a c it y o f 8 ,0 0 0 H . P .
Y o u r d ir e cto r s a d v is e th a t a d d itio n s b e m a d e t o
y o u r s te a m p la n ts fo r r es e rv e p u rp o se s fr o m tim e t o tim e p r o p o r t io n a t e t o
th e in crea se in th e a m o u n t o f h y d r a u lic p o w e r d e v e lo p e d , t o p r o v id e a g ain st
I n te rru p tio n s a n d insure its cu s to m e rs a c o n tin u o u s s e rv ice .
T h e c o n t r a c to r s fo r th e S o u la n g e s d e v e lo p m e n t (see V . 8 3 , p . 216; V . 8 2 ,
p . 1436) h a v e n o t m a d e th e p ro g re ss a n t ic ip a te d , b u t th e w o rk is b e in g
r u s h e d , a n d it is fu lly e x p e c t e d th a t th e d e v e lo p m e n t w ill b e c o m p le t e d an d
t h e p o w e r th e r e fr o m a v a ila b le f o r th e p e r io d o f t h e m a x im u m d e m a n d
d u r in g th e fo r t h c o m in g w in te r.
Y o u r d ir e cto r s c o n t e m p la te e x te n s iv e a d d itio n s in th e c a r b o n iz in g a n d
s to r a g e p la n ts o f th e gas m a n u fa c tu r in g d e p a rtm e n t t o p r o v id e fo r th e in ­
cr e a se d d e m a n d b ein g m a d e fo r g a s.
I t w ill t a k e t w o y e a rs t o c o m p le t e
th ese a d d itio n s .
O u r n ew o ffic e b u ild in g is n e a r ly c o m p le t e d a n d w ill s h o r tly b e o c c u p ie d .
T h e in crea se in th e bu sin ess c o n tin u e s t o b e m o s t s a t is fa c t o r y , th e fo llo w in g
a d d itio n s h a v in g b e e n m a d e d u rin g th e y e a r ; •
E le c tr ic D ep a rtm en t—
j G as D ep a rtm en t—
In c a n d e s c e n t la m p s c o n n e c t - - 4 1 ,6 5 5 1M eters in s ta lle d _______________5 ,7 4 7
C o m m e rcia l a rc la m p s
“
2 6 6 1S to v e r , g e n ’ to rs, & c.so ld
2,501
S treet la m p s
“
33 I N e w serv ices (1 2 .7 m ile s )____ 1,958
P o w e r (H . P .)
“
4 ,8 8 4 j N e w m ain s la id ( m i l e s ) _______ 11.14
C o m m e rce an d in d u s t r y , g e n e ra lly , in M on treal c o n tin u e s p r o s p e r o u s ,
a n d th e p r o s p e c ts fo r a d d itio n a l bu sin ess in th e fu tu r e are m o s t fa v o r a b le .
E A R N I N G S E X P E N S E S A N D C H A R G E S Y E A R S E N D . A P R I L 30.
1907.
1906.
1905.
190 4.
G ross ea rn in gs _
$ 3 ,4 5 3 ,4 9 0
$ 3 ,1 8 6 ,1 0 2
$ 2 ,9 0 1 ,2 6 5
$ 2 ,5 8 9 ,4 4 7
E x p e n s e s _______
1,5 2 9 ,2 7 0
1 ,4 3 1 ,1 9 7
1 ,3 0 2 ,1 2 2
1 ,2 4 3 ,6 8 7
N et r e v e n u e -.
$ 1 ,9 2 4 ,2 2 0
$ 1 ,7 5 4 ,9 0 5
$ 1 ,5 9 9 ,1 4 3
$ 1 ,3 4 5 ,7 6 0
I n t . o n b ’ d s& ln s.
$ 4 8 3,63 8
$ 4 7 6,41 9
$47 0 ,3 5 4
$ 4 6 1,74 6
D iv id e n d s p a id ( 5 % ) 8 5 0 ,0 0 0 ( 4 % ) 680 ,0 0 0 (4 % ) 680 ,0 0 0 (4 % ) 680 ,000
S u rplu s

$5 9 0 ,5 8 2

$ 5 9 8 ,4 8 6

$ 4 4 8,78 9

B A L A N C E S H E E T A P R IL 30.
1907.
1906.
!
1907.
Assets—
S
I Liabilities—
$
Stocks, bonds and
|Capital s t o c k ____ 17 000,000
int. in other cos.23 ,760,418 23,720,4581Bonds outstanding 8 ,877,000
New construction 3 383,286
3,000,962 ]Accounts payable
329,459
Bonds in treasury
459,000
3 4 ,0001Customers’ dep . .
40,670
Accounts receiv’ le
578,239
432,7011Accrued interest .
112,051
Stores, gas stoves,
jA c c 'd t a x on earn.
16,037
197,097
131,544 IBank l o a n s _____
166,013
Coal, coke, tar,& e
49,509
107,052 |Divs. unclaimed _
8,234
C a s h .......................
30,704
11,014 ! D iv. May 1 5 ____
212,500
i Insurance account
225.000
IContingent acc’ t .
200.000
ISub. cos. sink. fds._
90,104
|Gen. suspense acc
76,338
[Surplus _________
,104,848
T otal.................. 28,458,254
- V . 84, p. 1371, 394.

27,437,7321

T otal.................. 28,458,254

$ 2 0 4,01 4
1906.
S
17,000,000
8,464,000
369,348
32,608
112,013
15,685
64,916
8,004
170.000
150.000
150.000
901,158
27,437,732

Columbus & Hocking Coal & Iron Company.
{Twenty-fourth Annual Report ending March 31 1907
President N. L. C. Kachelmacher says in substance:
T u rn in g P o in t.— T h e fiscal y e a r ju s t e n d e d w ill b e re fe rre d t o in fu tu re
as th e tu rn in g p o in t in th e c o m p a n y ’s a ffa ir s , a n d th e c o m p a n y ’s o p e r a tio n s
w ill n o t , as in th e p a s t, b e lim ite d t o c o a l a lo n e , b u t d iv id e d b e tw e e n c o a l
a n d c la y .
C o a l.— W e h a v e m e t m a n y d iffic u ltie s .
F irst th e p r o lo n g e d s trik e , w h ic h
s t o p p e d th e c o m p a n y ’s ea rn in g p o w e r fo r a b o u t th ree m o n th s ; th e n se v e re
flo o d s : b u t a lth o u g h o u r m in es w e re o u t o f o p e r a tio n fo r a b o u t fo u r m o n t h s ,
o u r to n n a g e t o t a le d u p t o n e a r ly as m u c h d u r in g th e t w e lv e m o n th s o f th e
p r e v io u s y e a r , a n d th e n e t results sh o w im p ro v e m e n t o v e r 1 90 5-0 6.
T h is
Is d u e t o th e I m p r o v e d p h y s ic a l c o n d it io n a n d th e b e t t e r e q u ip m e n t o f th e
p rop erty.
W h ile th e c o m p a n y ’s p h y s ic a l c o n d it io n w as fo rm e r ly a b o u t th e
p o o r e s t t o b e fou n d in th e H o c k in g V a lle y , th ere Is n o w n o n e in th is s e c tio n
in b e t t e r sh a p e t o g e t c o a l o u t as p r o fita b le . T h e earnings o f th e p a s t y e a r
b y n o m ean s rep resen t th e a c tu a l n et p rogress o f th e y e a r.
T h e o p e r a tio n s in o u r g reat K in c a id field h a v e p ro g re sse d f a v o r a b ly , an d
w e h a v e d e c id e d t o m a k e a n o th e r o p e n in g w h ic h w ill m a te ria lly in cre a se o u r
K ln k a ld o u t p u t . T h e o p e r a tio n s a t o u r s e c o n d larg est field (D o a n v llle )
h a v e also p r o v e n s a t is fa c t o r y , an d this te r r it o r y is c o n s t a n t ly Im p r o v in g
in b o t h o u t p u t a n d In th e q u a lit y o f Its c o a l.
T h e c o m p a n y o w n s th e r e a
c o a lfie ld o f m u ch grea ter e x t e n t th a n has b e e n e s tim a te d .
O ur s e c o n d a r y
o p e r a tio n a t D o a n v llle is a lso s h o w in g u p w e ll, an d w e e x p e c t t o en larg e this
o p e r a t io n .
U n til r e c e n tly w e e n c o u n te r e d c o n s id e r a b le q u a n titie s o f su l­
p h u r in o u r o p e ra tio n s In th is m in e , b u t w e h a v e n o w g o t t e n th r o u g h th e
su lp h u r p o c k e t s , a n d h a v e a large field a h e a d o f us in t h a t te r r it o r y .
O ur
s m aller o p e r a tio n s are w o r k in g s u c c e s s fu lly , a n d w e h a v e a d d e d a n o th e r
m in e t o o u r a c t iv e list d u r in g th e p a s t y e a r , u p o n w h ic h w o r k h a d b e e n d is­
c o n t in u e d , t h o u g h e x c e lle n t c o a l still re m a in s u n m ln e d .
I n sp ite o f th e f a c t th a t o u r c o a l o p e r a tio n s are in sp le n d id s h a p e , th ere
is a grea t d e a l o f im p o r ta n t w o rk still a h e a d o f us in this d e p a rtm e n t.
We
h a v e a n u m b e r o f u n e x p lo r e d fields t o In v e s tig a te an d m a n y im p ro v e m e n ts
t o m a k e e v e r y w h e r e ; b u t th ese are q u e s tio n s ar e x p e n d itu r e an d tim e .
C l a y .— O u r n ew g re a t e n te rp ris e , th e fa c e b rick p la n t . Is a p p ro a ch in g
c o m p le t io n a n d w e e x p e c t t o sta rt o p e r a tio n s s h o r tly .
T h is n e w d e p a r t ­
m e n t w ill p r o d u c e a re v e n u e b e y o n d a n y th a t has as y e t b e e n se cu re d fro m
a n y o f th e c o m p a n y ’s o p e r a tio n s sin ce Its o r g a n iz a tio n a b o u t 25 y e a rs a g o .
R E C E IP T S , E X P E N S E S A N D C H A R G E S.
1 90 6-0 7.
1 90 5-0 6.
1 9 0 4 -0 5 .
C oa l p r o d u c e d , t o n s ____________ 4 1 2 ,3 5 7
4 4 4 ,5 0 9
2 9 1 ,6 6 6
E a rn in g s, & c ________ ________. .. $ 6 0 3 , 8 2 1
$52 7 ,0 6 5
$ 3 4 1,99 7
O p e r a tin g e x p e n se s & r e p a ir s ___ 464 ,1 5 1
4 2 3 ,2 3 7
3 0 8 ,6 7 5

1 90 3-0 4.
394 ,735
$ 5 4 3,80 0
395 ,0 9 7

N e t earn in gs ................................$ 1 3 9 ,6 7 0 $ 1 0 3,82 8
$ 3 3 ,3 2 2
$14 8 ,7 0 3
In teres t on b o n d s ________________ $50 ,0 0 0 $50 ,0 0 0
$50 ,0 0 0
$ 50 ,000
T a x e s an d m is c e lla n e o u s ________
2 4 ,6 9 9
2 3 ,597
2 2 ,8 2 2
2 6 ,680
D iv id e n d on c o m m o n ___________
_______
__________
__________(1 % ) 69,004
S u r. o r d e f. fo r y e a r ________ S $6 4,9 71 S .$30 ,231 D . 39,500
N o te .— T h e first q u a rte r ly d iv id e n d
o n th e $ 2 0 0,00 0
cu m u la t iv e p re fe rr e d s to c k Issued d u r in g th e fiscal y e a r 1906-07
d e c la r e d , p a y a b le A p r . 1 1907, a n d th e s e c o n d , J u ly 1 1 9 0 7 .— V . 84
118 4.
CO N DEN SED B A L A N C E S H E E T M A R C H 31.
1906.
1907.
1907.
1
Assets—
i Liabilities—
S
S
*
Prop. & franchises.-8,287,147 7,687,116IStock, c o m m o n ____ 6,981,100
Common stock in
IStock p r e fe rr e d ___ 218,900
trea su ry_________
80,700
80,700 i First m ort. 5% bds. 1,000,000
Additions and im­
IColl. trust 6 % b d s .. 400,000
provements _____ 154,225
157,349 |Sink, fund reserved. 271,808
Mining plant equ ip.. 150,413
118,917 |Current liabilities _.
52,175
Materials and supp.
4,047
2,973 IAccrued sink, fund .
7,065
Sinking f u n d s _____ 271,808
249 ,5241Accrd. int. on bonds
12,500
C a s h __ ______ __
3,139
21,1901 Accrued t a x e s _____
4,939
A cc’ ts&bills receiv. .
98,059
74,717 1Profit and lo s s _____ 139,052
38,000
Miscellaneous______
31,574
T o t a l..................... 9,087,539




8.424.0611

T otal....................... 9,087,539

S . $3,019
6 % nonhas be e n
, p . 1 37 0,

1906.
$
6,981,100
18,900
1,000,000
"249",524
79,506
8,449
12,500
74.082
8,424,061

[V o l .

l x x x iy

.

Electric Properties Company.
{Report for Fiscal Year— 11 M os.— ending A pril 30 1907.)
The report, signed b y Treasurer W . A . Esselstyn, shows:
E a rn in g s— In terest a n d d iv id e n d s , & c _______________________________$ 3 8 8 ,2 4 8
E x p en ses— O rg a n iz a tio n , legal a n d en g in e e rin g e x p en ses,
salaries, d ir e cto r s ’ c o m p e n s a tio n a n d gen eral m iscel­
la n e o u s e x p e n se s________________________________________ $10 4,74 4
D iv id e n d s — P referred s to c k at 6 % _______________________ 1 28 ,057
C o m m o n s to c k a t 2 % _______________________ 120 ,0 0 0
---------------3 5 2 ,8 0 1
S u r p lu s ________________ _______________________________ ______________ _ $35 ,4 4 7
BALANCE

SHEET

A P R I L 30 1907.

A s sets —
j L ia b ilities —
C a s h --------------------------------- * $ 2 ,0 8 3 ,8 5 1 1C o m m o n s t o c k _____________$ 6 ,0 0 0 ,0 0 0
S u b -c o m p a n y
(W e stin g I P referred s t o c k ___________ 3 ,8 6 6 ,0 0 0
h o u s e ,C h u r ch ,K e rr & C o .) 7 ,0 0 0 ,0 0 0 j S u r p lu s ____ 1______________
35,4 4 7
In v e s tm e n t s e c u r itie s ____
8 1 7 ,5 9 6 1
T o ta l

............................... -$ 9 ,901,447|

T otal

....................................$ 9 ,9 0 1 ,4 4 7

*T h e cash in clu d e s b a la n c e d u e o n s u b s c r ip tio n , s u b je c t t o c a ll.— V . 84,
p . 1055.

GENERAL INVESTM ENT NEWS.
RAILROADS, INCLUDING STREET ROADS.
Alabama Terminal RR., Birmingham, Ala.— $2,500,000
Bonds Sold.— See Atlanta Birmingham & Atlantic R y . below .
Anthracite Coal Roads.— Government Brings Suit.— The
suit of the United States Governm ent against the anthracite
coal-carrying railroads charged with carrying on a m onopoly
in the production, transportation and sale of hard coal,
was filed on June 12 in the United States Circuit Cour.t in
Philadelphia. The suit is the result of the investigation
started by the Departm ent of Justice about a year ago.
(Compare V. 82, p. 927.) The following statement was
made public at the Departm ent of Justice on June 11:
T h e p e titio n t o b e filed t o -m o r r o w b y th e G o v e rn m e n t in th e U n ited
States C ircu it C o u rt a t P h ila d e lp h ia is a im e d a t th e an th ra cite c o a l m o n o p ­
o ly . T h e R e a d in g C o m p a n y (a h o ld in g c o r p o r a t io n ), th e P h ila d e lp h ia &
R e a d in g R y . C o ., th e L e h igh V a lle y R R . C o ., th e D elaw are L a ck a w a n n a &
W estern R R . C o ., t h e C en tral R R . o f N ew Je rse y , th e Krie R R . C o . an d th e
N ew Y o r k S u sq u e h a n n a & W e ste rn R R . C o ., c o m p r is in g all th e r o a d s th a t
ta p th e a n th ra cite re g io n s sa v e th e P e n n s y lv a n ia , th e N ew Y o r k O n ta rio
& W estern an d th e D elaw are & H u d s o n (w h ich last d o e s n o t e x te n d t o
tid e w a t e r ), are m a d e d e fe n d a n ts , to g e th e r w ith th eir s u b s id ia ry c o a l­
m in in g co m p a n ie s . A s y e t n o e v id e n c e o f s u fficie n t p r o b a tiv e fo rc e t o
c o n n e c t th e three la s t-n a m e d railroad s w ith th e alleged u n la w fu l c o m b in a ­
t io n an d m o n o p o ly has been fo u n d .
S h o u ld su ch e v id e n c e b e fo r t h c o m in g
in th e p rog ress o f th e trial th e y m a y a n d o f cou rse w ill be jo in e d w ith th e
o th e r d e fe n d a n ts .
In b rie f, th e p e titio n re cites t h a t th e d e fe n d a n t railro a d s c o n t r o l all th e
m ean s o f tr a n s p o r ta tio n b e tw e e n th e a n th ra cite m in es an d tid e w a te r e x c e p t
th e lin es o f th e P e n n s y lv a n ia R R . an d th e N ew Y o r k O n ta rio & W estern R y . ,
w h ich re a ch o n ly a lim ite d n u m b e r o f collieries; th a t th e y tr a n s p o r t a n n u a lly
a b o u t 7 8 % o f th e to t a l a n th r a c ite to n n a g e ; th a t in th eir o w n n a m e o r
th ro u g h c o a l c o m p a n ie s w h o se ca p ita l s to c k th e y ow n th e y c o n tr o l a b o u t
90 % o f all th e a n th ra cite d e p o s its an d p r o d u c e a b o u t 75 % o f th e ann u al
s u p p ly ; th a t in d e p e n d e n t o p e r a to r s , a lth o u g h o w n in g p r o b a b ly little m ore
th a n 5 % o f th e a n th ra cite d e p o s its , y e t p r o d u c e a b o u t 2 0 % o f th e ann ual
s u p p ly , w h ich w o u ld be sold In c o m p e titio n w ith th e o u t p u t o f th e d e ­
fe n d a n ts w ere it n o t fo r th e restra in ts im p o s e d b y th e la tte r .
T h e p e t itio n th e n ch arges t h a t th e d e fe n d a n ts h a ve c o n s p ire d t o silen ce
c o m p e titio n a m o n g th e m se lv e s in th e tr a n s p o r ta tio n and sale o f co a l and
t o p r e v e n t th e sale o f th e in d e p e n d e n t o u t p u t in c o m p e t it io n w ith th eir
o w n , th e r e b y e sta b lish in g a m o n o p o ly , a n d in s u p p o r t o f th is general alle­
g a tio n It specifies:
First— T h a t th e d e fe n d a n t railroads ag reed a m o n g th e m se lv e s u p o n a
u n ifo rm c o n t r a c t t o b e en te re d In to b y th e m o r b y th eir co a l c o m p a n ie s
w ith th e In d e p e n d e n t o p e ra to rs a lo n g th eir r e s p e c tiv e lines u n d e r w h ic h
th e ra ilroad s w o u ld b e ab le t o c o n tr o l th e sale o f th e In d e p e n d e n t o u t p u t ,
an d th a t b y v irtu e o f th e ir c o n tr o l o f all th e m ean s o f tr a n s p o r ta tio n fro m
th e a n th ra cite m in es t o tid e w a te r , sa ve t h e lin es o f th e P e n n s y lv a n ia R R .
C o . an d th e N ew Y o r k O n ta rio & W e s te rn R y . C o ., th e d e fe n d a n t ra ilroad s
w ere ab le t o fo rc e a n d d id fo rc e th e In d e p e n d e n t o p e ra to rs a lo n g trfeir lines
in t o m a k in g these c o n tr a c ts .
(b)
T h a t th e Erie R R . C o . has e x c h a n g e d shares o f Its o w n ca p ita l
s to c k fo r a m a jo r it y o f th e shares o f th e N ew Y o r k S u sq u e h a n n a & W estern
R R . C o ., a c o m p e t in g lin e , th e r e b y u n itin g u n d e r a c o m m o n s o u rce o f c o n ­
tro l th e t w o c o m p e t in g railro a d c o m p a n ie s a n d their s u b s id ia ry c o a l c o m ­
pa n ies.
(c)
T h a t th e R e a d in g C o m p a n y , w h ic h a lre a d y h eld all th e shares o f
th e P h ila d e lp h ia & R e a d in g R y . C o ., has e x c h a n g e d Its o w n shares a n d
b o n d s fo r a m a jo r it y o f th e shares o f th e C en tral R R . C o . o f N ew J e rsey , a
co m p e t in g lin e , th e r e b y u n itin g u n d e r a c o m m o n so u r c e o f c o n tr o l th e t w o
co m p e t in g railroad s an d th e ir s u b sid ia ry co a l co m p a n ie s , w h ic h to g eth er
tra n s p o rt a b o u t 33 % o f th e an n u a l a n th r a c ite to n n a g e a n d c o n tr o l a b o u t
60 % o f th e a n th r a c ite d e p o s its .
(d)
T h a t tw ic e In re ce n t y e a rs th e d e fe n d a n ts h a v e d e fe a te d th e c o n ­
str u c tio n o f p r o je c t e d In d e p e n d e n t railroad s fro m th e m in es t o tid e w a te r
w h ic h w o u ld n o t o n ly h a ve in tro d u c e d c o m p e t it io n In to th e tr a n s p o r ta tio n
o f a n th r a c ite c o a l, b u t w o u ld h a ve p e r m itte d th e o u t p u t o f th e In d e p en d en t
o p e ra to rs t o be sold in th e m a rk e ts in c o m p e t it io n w ith th a t o f th e d e ­
fe n d a n ts .
T h e p e titio n p ra y s gen erally th a t th e d e fe n d a n ts b e e n jo in e d fro m fu rth er
c a rry in g o u t th eir c o m b in a t io n a n d sp e c ific a lly th a t th e a b o v e -d e s c r ib e d
c o n tr a c ts b e c a n c e le d , an d th a t th e m ergers b e tw e e n th e Erie R R . C o.
an d th e N ew Y o r k S u sq u e h a n n a & W e s te rn R R . C o . an d th eir co a l c o m ­
pan ies an d b e tw e e n th e P h ila d e lp h ia & R e a d in g R y . C o . an d th e C en tral
R R . C o . o f N ew J e rse y a n d th e ir c o a l c o m p a n ie s b e d is s o lv e d .— V . 84, p . 929.

Atlanta Birmingham & Atlantic RR.— New Stock.— The
shareholders voted on June 5 to increase the capital stock
from $24,351,400 to $35,000,000, of which $10,000,000 will
be preferred stock and $25,000,000 com m on stock. The
“ Atlanta Constitution” of June 9 says: “ Of the new stock,
it is understood $2 ,000,000 will be issued at once and will be
negotiated, along with bonds, for the purpose o f com plet­
ing the road.”
Bonds Offered— Official Statement.— H. W . Poor & Co.,
New Y ork and Boston, having purchased $5,000,000 first
mortgage 5 % gold bonds, of which a large portion has been
sold, are offering the remainder at 9 6 ^ and interest, yielding 5 }4 % - These bonds are dated Jan. 1 1906 and are due
Jan. 1 1936, bu t redeemable at 106 and interest upon any
coupon date. (Compare V. 84, p. 270; V.' 83, p. 35.)
C a pitaliza tion M a y 15 190 7.
S t o c k : C o m m o n , a u th o r iz e d $ 2 5 ,0 0 0 ,0 0 0 ; is su e d _______ --______ $ 1 6 ,1 7 0 ,7 0 0
P referred (5 % n o n - c u m .) a u th o r iz e d $ 1 0 ,0 0 0 ,0 0 0 ; Issued 8 ,1 8 0 ,7 0 0
B o n d s ; F ir s t m o r tg a g e 5 % A t la n t a B irm in g h a m & A t la n t ic
R R . C o ., a u th o r iz e d $ 3 0 ,0 0 0 ,0 0 0 ; Issu e d _____________
7 ,1 7 3 ,0 0 0
F irst m o r tg a g e 5 % A t la n t ic & B ir m in g h a m R y . C o ____
4 ,0 9 0 ,0 0 0

J u n e 15 1907.]

THE CHRONICLE.

A bstract o f L etter fro m P resid en t H . M . A tk in s o n , dated A tla n ta , G a .,
M a y 15 1 9 0 7 .
T h e m a in lin es o f t h e r a ilr o a d c o m p a n y are as fo llo w s :
B r u n s w ic k t o L a G ra n g e , G a .2 8 6 .8 m . |F itz g e r a ld t o T h o m a sv ille .G a .8 0 .5 m .
W a y cross t o S essom s, G a ._ 26
m . |T a lla d e g a t o A s h la n d (A la . d iv .)3 2 m .
P r e s e n t t o t a l m a in lin e -------------------------------------------------------------------425 .3 m iles
M ain lin e u n d e r c o n s t r u c t io n _____________________________________ 223 .5 m iles
T o ta l m a in lin e u p o n c o m p le t io n ______________________________ 648 .8 m iles
T h e lin es o f t h e c o m p a n y are b e in g e x te n d e d fro m L a G ra n ge, G a .,
n o r th w e ste r ly t o B irm in g h a m , A la ., 1 6 8 3^ m ile s, a n d fr o m a c o n n e c tio n
w ith th is lin e t o A tla n ta , G a ., a b o u t 77 m iles a d d itio n a l. T h e en tire s e ctio n
fro m L a G ra n ge t o B irm in g h a m is u n d e r c o n s tr u c tio n an d w ell a d v a n c e d .
T h e b r id g e o v e r th e C h a tta h o o c h e e R iv e r w as r e c e n t ly c o m p le t e d , and
t r a c k -la y in g is n o w p r o c e e d in g r a p id ly w e st o f t h e C h a tta h o o c h e e R iv e r
in t h e d ir e c tio n o f B irm in g h a m . W e e stim a te t h a t w e w ill h a v e a c o n n e c te d
th r o u g h lin e in op e r a tio n t o T a lla d e g a , A la . (75 m iles fro m B ir m in g h a m ),
b y O c t . 1 1907, a n d t o B irm in g h a m , A la ., d u r in g 1908, u n d e r a v e ra g e
w e a th e r a n d la b o r c o n d it io n s .
W o r k o n th e A tla n ta lin e is b e in g r a p id ly
p u s h e d , a n d ou r en gin e e rin g d e p a rtm e n t is co n fid e n t t h a t w e w ill h a v e o u r
rails in t o A t la n t a b y O c t . 1907. W h a t w e c o n s id e r th e m o s t c o m p le te
ra ilro a d sh op s in th e S o u th h a v e been b u ilt fo r th e r a ilro a d c o m p a n y at
F itz g e r a ld , G a ., a n d are n o w in o p e r a tio n .
'*"S|
T h e r o a d is b e in g c o n s t r u c te d in a c c o r d a n c e w ith th e h ig h est sta n d a rd s,
w it h 8 0 -lb . rail. T h e m a x im u m c u r v a tu r e is s ix d egrees. T h e grades o n
th e first 200 m iles, fr o m B ru n s w ick t o M o n te z u m a , are n o w b e in g re d u ce d
t o .6 o f 1 % m a x im u m , a n d th e gra d e o n th e b a la n c e o f th e lin e w ill b e 1 %
m a x im u m . P a ssin g tr a c k s c a p a b le o f h o ld in g 5 0 -ca r train s are b e in g p u t
in e v e r y fo u r m iles.
A ft e r fiv e yea rs o f c o n tin u o u s w o rk th e a c q u is itio n o f o u r A tla n ta te r­
m in a ls has been c o m p le t e d . T h is A t la n t a te rm in a l p r o p e r t y co m p rise s
a b o u t 200 a cres, an d is s u ffic ie n t fo r all p u rp o se s, y a r d s , s h o p s a n d c it y
fre ig h t a n d p assen g er sta tio n s, a n d fu rn ish es co n n e c tio n s w ith a ll road s
en te r in g A t la n t a .
It also co m p rise s a large a m o u n t o f p r o p e r t y w h ic h is
w ell s u ite d fo r th e lo c a tio n o f in d u strie s. T h is te rm in a l p r o p e r ty has re­
c e n t ly b e e n c o n v e y e d t o th e G e o rg ia T e rm in a l C o . T h e e n tire c a p ita l s to c k
o f th e G eorg ia T erm in a l C o ., $ 1 ,5 0 0 ,0 0 0 , w ill be o w n e d b y th e A t la n t a B ir­
m in g h a m & A t la n t ic R R . C o ., a n d s u b je c t t o th e lien o f its first m o rtg a g e
bon d s.
W o r k o n th e A tla n ta te rm in a l Is b e in g p u sh ed r a p id ly and o u r c o n ­
t r a c t calls fo r its c o m p le t io n b e fo re th e m a in lin e is co m p le te d t o a c o n n e c ­
tio n w ith i t . ($ 3 ,0 0 0 ,0 0 0 first m o rtg a g e b o n d s o f th e G eorg ia T e rm in a l C o.
h a v e r e c e n tly been so ld as be lo w s t a t e d .— E d .)
C o m p lete term in a ls h a v e be e n a cq u ire d in B irm in g h a m an d th e B ir­
m in g h a m d is tric t.
T h ese term in a ls c o m p ris e lo c a l fre igh t an d passenger
term in a ls in B irm in g h a m , am p le p r o p e r t y fo r y a r d s , sh ops an d also a b e lt
ra ilr o a d c o v e r in g th e d is tric t a n d r u n n in g c o m p le t e ly th ro u g h th e P ra tt
c o a l fie ld . T h e A la b a m a T e rm in a l R R . C o. has been o rg a n iz e d an d w ill
h o ld th e title t o th e B irm in gh a m term in als: th e en tire ca p ita l s t o c k , $ 1 ,5 0 0 ,00 0 , w ill b e o w n e d b y th e A tla n ta B irm in g h a m & A t la n t ic R R . C o . a n d w ill
b e s u b je c t t o th e lien o f th e A tla n ta B irm in gh am & A t la n t ic first m o rtg a g e
bon d s.
($ 2 ,5 0 0 ,0 0 0 first m o rtg a g e b o n d s o f t h e A la b a m a T e rm in a l R a il­
r o a d C o. h a ve r e c e n tly b e e n so ld .
See b e lo w .— E d .)
B ru n sw ick , th e A t la n t ic O cea n te r m in a l, has a fine h a rb o r.
T h e A tla n ta
B irm in g h a m & A tla n t ic R R . C o. is in s tro n g p o s itio n fo r h a n d lin g business
th r o u g h its ow n ersh ip o f a b e lt railroad an d term in a l p r o p e r ty , a m p le fo r
y a r d s , d eep w a te r te rm in a ls a n d c it y fre igh t an d passenger s ta tio n s. T h e
w a te r te rm in a l has o v e r h a lf a m ile o f d eep w a te r fr o n ta g e a n d com p rises
a b o u t 100 acres o f la n d .
T h e c o n s tr u c tio n o f t w o large p iers 700 fe e t lo n g
a n d 400 fe e t lo n g r e s p e c tiv e ly also fo u r large w areh ou ses o n th is p r o p e r ty ,
Is c o m p le t e d .
In terests frie n d ly t o th e railro a d c o m p a n y o rg a n iz e d th e B ru n sw ick
S tea m sh ip C o. ea rly in 1906.
F o u r fre ig h t steam ers o f 5,000 to n s d is ­
p la c e m e n t, th e S atllla, O g e e ch e e , O ssa baw a n d O cm u lg e e , w ere c o m p le te d
d u r in g th e p ast six m o n th s an d are n o w in regu lar serv ice . So m u ch b u s i­
ness w as offered th a t w e h a v e r e c e n tly p la c e d a c o n t r a c t fo r a fifth steam er o f
th e sam e t y p e , t o b e c a lle d th e A lta m a h a . t o b e in se rv ice d u r in g th e curren t
year.
W o r k on o u r passen ger ste a m e r, th e B ru n sw ick , w as c o m p le te d
in D e ce m b e r , an d she has b e e n In reg u la r s e rv ice fro m N ew Y o r k t o B ru n s­
w ic k a n d H a v a n a sin ce Jan . 5 1907. T h is en ab les th e m a k in g o f c o n tin u o u s
w a te r a n d rail rates fr o m t h e E ast t o t h e S o u th e a st, a n d th ro u g h c o n n e c tio n s
t o th e W e s t, an d v ic e versa; also rates t o a n d fr o m H a v a n a , th ro u g h N ew
Y o r k an d B ru n s w ick .
O p e ra tio n s o f th e B ru n sw ick S team sh ip C o. are
e s tim a te d as fo llo w s : G ross ea rn in gs, $ 1 ,0 4 0 ,0 0 0 ; to t a l exp e n se s p er
a n n u m , In clu d in g in te re st a n d d e p r e c ia tio n , $ 83 5,88 0; n e t earnings $204,120.
In terests fr ie n d ly t o th e r a ilro a d c o m p a n y h a v e o rg a n iz e d th e B irm in g ­
h a m Ir o n C o. (V . 83. p . 40) an d th e B irm in gh a m C oal C o. T h e iron c o m ­
p a n y o w n s o v e r 3 0 ,0 0 0 acres o f th e b e st c o a l la n d s, an d several th o u s a n d
a cres o f th e b est ore lan ds in th e B irm in gh a m d is tric t, an o p e r a tin g fu rn a ce
n e a r B irm in g h a m an d also e x te n s iv e co a l m in es an d c o k e o v e n s . T h is
c o m p a n y is m a n u fa c tu r in g a b o u t 4 ,0 0 0 to n s o f Iron p er m o n th o u t o f its
o w n ra w m a teria ls.
I m p r o v e m e n ts are n o w b e in g m a d e w h ic h w ill in ­
crease th e c a p a c it y t o a b o u t 7,0 0 0 to n s o f Iron p e r m o n t h .
T h e B irm in g ­
h a m C oal C o. ow n s a b o u t 7 ,0 0 0 acres o f a d d itio n a l c o a l la n d s a d jo in in g
th e c o a l la n d s o f th e B irm in gh a m Ir o n C o. A p p r o x im a t e ly 1,0 0 0 to n s
o f c o a l p er d a y is b e in g m in e d fro m th ese la n d s. T h is co a l is co n s u m e d
b y th e B irm in g h a m Iro n C o . P lan s h a v e been c o m p le te d a n d a c tiv e w o rk
has b een s ta rte d fo r th e c o n s tr u c tio n o f n e w m in es o n th e la n d s o f th e c o m ­
p a n y , w ith a c a p a c it y o f 3,0 0 0 to n s o f co a l p er d a y . th e p u rp o se b e in g t o
re n d e r th e railroad c o m p a n y Itself, th e lo ca l t e r rito r y d e p e n d e n t u p o n it, and
th e B ru n s w ick S tea m sh ip C o . , in d e p e n d e n t s o fa r as th e ir c o a l s u p p ly Is
c o n c e r n e d . T h e c o a l an d iro n c o m p a n ie s are n o w e a rn in g a t th e ra te o f
$30 0 ,0 0 0 n e t p er a n n u m .
P lan s are n o w b e in g m a d e fo r c o n s o lid a tin g
he B irm in g h a m Ir o n C o. a n d th e B irm in g h a m Coal C o .
(See b o n d sale
b e lo w .)
T h e p resen t 425 .3 m ile ’! o f m ain lin e in o p e r a tio n are ea rn in g a su b stan tial
su rp lu s o v e r o p e r a tin g exp e n se s an d fix e d ch arg es, an d are d o in g this
pu rely as a loca l r o a d .
It is e s tim a te d th a t th e sy ste m w h en co m p le te d
w ill b e a p p r o x im a t e ly 64 8 .8 m iles o f m ain lin e ; also th a t th e t o t a l b o n d e d
d e b t w ill be a b o u t $31 ,0 0 0 p er m ile , in c lu d in g te rm in a ls, e q u ip m e n t,
s h o p s , & c. A ll term in a l p ro p e rtie s are c o v e r e d d ir e ctly b y these b o n d s,
e x c e p t th e term in a ls a t A tla n ta and B irm in g h a m , w h ic h are o w n e d r e s p e c­
t iv e ly b y th e G eorgia T e rm in a l C o. a n d th e A la b a m a T e rm in a l R R . C o .,
w h o s e en tire ca p ita l s to c k ($ 1 ,5 0 0 ,0 0 0 e a ch ) w ill be s u b je c t t o th e lien o f
th ese b o n d s .
(T h e u n d e rly in g first m o rtg a g e b o n d s o f th e t w o term in al
c o m p a n ie s h ave la te ly been sold as s ta te d in a fo llo w in g p a ra g ra p h .— tui.)
W h en th e roa d has had tim e t o b u ild up its business th e earn in gs p er m ile
sh ou ld e x c e e d $ 12,000 gross, s h o w in g p er an n u m :
E stim a te d gross e a in in g s .$ 7 ,7 8 5 ,6 0 0 1e s t im a t e d n e t e a r n in g s ___ $ 2 ,3 3 5 ,6 8 0
E s tim a te d o p e r . exp en ses
E stim a te d in te re s t____
1 005 640
a t 7 0 % ( in c lu d . t a x e s ) . 5,449,9201
N et ea rn in gs p e r a n n u m ..$ 2 ,3 3 5 ,6 8 0 ! B a lan ce .....................................$ 1 ,3 3 0 ,0 4 0
■ f T h e a b o v e e stim a te s h a v e been c a re fu lly ca lcu la te d , an d it Is believ ed
t n a t th e resu lts sta te d w ill b e e x c e e d e d .
C on struction C o m p a n y — B on d s R ecen tly S old.
T h e A t la n t ic & B irm in gh a m C o n s tr u c tio n C o . has a c a p ita l o f $8 000 0 0 0 ,
a n d is b u ild in g th e e x te n s io n s o f th e A t la n t a B irm in gh a m & A t la n tic R R .
t o B irm in g h a m an d A tla n ta , as d e scrib e d a b o v e .
F o u r m illion dolla rs
o f th e ca p ita l o f th e c o n s tr u c tio n c o m p a n y has been p a id in an d th e b a l­
a n c e o f $ 4 ,0 0 0 ,0 0 0 is s u b je c t t o call a t a n y tim e , 2 0 % h a v in g been called
J u n e 14 1907. T h e c o n s tr u c tio n c o m p a n y sold a b o u t a y e a r a g o $ 8 ,0 0 0 ,0 0 0
4 -y e a r o % n o te s (V . 83, p . 3 5 ), a n d has r e c e n tly s o ld :
G eorgia T erm in a l C o. b o n d s (see a b o v e ) __________________________ $3 COO 000
A la b a m a T erm in a l R R . C o . b o n d s (see a b o v e ) _______________2 500 000
B irm in g h a m Coal & Iron C o. b o n d s (see a b o v e ) . I ____ I I I I I I 2 000 000
A t la n t a B irm in gh a m & A tla n t ic first m o rtg a g e b o n d s
2 io o o ]o o o
T h is co m p le te s th e fin a n c in g o f th e enterprise and p ro v id e s th e fu n d s
n ecessa ry t o finish th e e x te n s io n s t o B irm in g h am an d A tla n ta ; w ill p a y
fo r th e s t e a m s h ip ,a s u b s t a n t ia l a m o u n t o f e q u ip m e n t ,s h o p s and c o a l, anil
iro n p u rch a ses a n d Im p ro v e m e n ts : w ill c o m p le te th e w a te r te rm in a ls at
B r u n s w ic k , p a y fo r a d d itio n a l fre ig h t stea m er an d m a n y o th e r ite m s .—
V. 84, p . 1365.

1427

2,922 issued May 3, direct Chief Traffic Officer of the Board
Hardwell to inquire and report what new locom otives and
other rolling stock, appliances and equipm ent the com pany
has ordered for use on its lines, and when the same m ay be
reasonably expected to be ready for use, and what additional
locom otives and equipm ent and facilities for repairing and
keeping the same in proper order can be obtained within
six months.
T h e c o m m is s io n fin d s t h a t a t th e p re se n t tim e t h e c o m p a n y has 168
en g in e s o f all classes t o o p e r a te 3 ,0 0 0 m iles o f r o a d , 23 o f w h ic h are u n d e r ­
go in g repairs; 6,0 9 5 o f its o w n cars a n d 5,0 0 8 fo re ig n ca rs, o r a t o t a l o f
11,103 cars; th a t fo r 30 d a y s p r e c e d in g th e r e p o r t m a d e t o it th e r o a d m o v e d
an a v era g e o f 39,0 0 0 b u sh els o f w h e a t a d a y , a n d th a t a t th e sam e ra te
It w o u ld ta k e u n til N o v . 25 n e x t t o m o v e t h e b a la n c e o f th e c r o p on its lin es.
T h e c o m p a n y , It is s a id , “ sh o u ld h a v e a t least tw ic e th e p o w e r it has t o
o p e r a te its e x is tin g lin es in a n y th in g lik e a s a tis fa c to r y m a n n e r .” — V . 84,
p . 1247, 1181.

Canandaigua Southern (Electric) R R .— Mortgage A p h o r ­
ized.— The New Y ork State Railroad Commission has au­
thorized this com pany to make a mortgage for $2 ,000,000.
An Albany paper says:
T h is c o m p a n y w as r e c e n t ly a u th o r iz e d t o b u ild a n e le ctr ic Ts treet su r fa c e
ra ilro a d b e tw e e n C a n a n d a ig u a , O n ta rio C o u n t y , a n d A t la n t a , S te u b e n
C ou n ty .
I n its p e t itio n fo r a m o r tg a g e th e c o m p a n y states th a t it has filed
ce rtifica te s o f ex te n s io n t o b u ild fro m A t la n t a t o W a y la n d , S te u b e n C o u n t y ,
6 % m iles; fr o m A tla n ta t o L a k e S a lu b ria , 1 m ile so u th e a s t o f B a th , S te u b e n
C o u n ty , 21 ^ m ile s, a n d fro m C a n a n d a igu a t o P a lm y r a , 14 m lles.

Central New England R y.— Consolidation A pproved.— The
New Y ork State Railroad Commission has consented to the
consolidation of the Central New England R y . Co. and the
Poughkeepsie & Eastern R y . Co. (V. 84, p. 80 4.)— V . 84,
p. 693, 449.
Chesapeake & Ohio R y.— Notes Offered.— Potter, Choate
& Prentice are offering, at par and interest, $500,000 of 1-year
6 % coupon gold notes, dated June 28 1907 and due June 28
1908. The total issue is $1,200,000 and the notes are a direct
obligation of the Chesapeake & Ohio Railw ay Co. Compare
V. 84, p . 1365.
Chicago Electric Traction Co.— Sale Ordered.— Judge
Kohlsaat in the United States Circuit Court at Chicago has
ordered the foreclosure sale of this property.— V. 82, p. 217.
Chicago Subway Co.— New Interests.— See Illinois Tunnel
Co. b elow .— V. 84, p. 1366, 220.
Chicago & Western Indiana R R .— Consolidation of 1882
Legalized.— Governor Deneen of Illinois recently signed
House Bill No. 777 legalizing the consolidation in 1882 of
the Chicago & Western Indiana Belt R y . and South Chicago
& Western Indiana R R ., tw o short belt lines, with a view of
lifting a possible cloud from the general and consolidated
mortgage bonds, w hich have been issued since the merger.
The follow ing is from an authoritative source:
T h e la w . In o r d e r t o b e c o n s t it u t io n a l, is general in fo r m . T h e re w a s an
irr e g u la r ity a b o u t t h e c o n s o lid a tio n .
T h e in te n tio n w a s t o co n s o lid a te
th e C h ica g o & W e s te rn I n d ia n a B e lt R y . a n d th e S o u th C h ica g o & W e s te rn
In d ia n a R R . , a n d th e r e a fte r t o m e rg e th e t w o c o n s o lid a te d ro a d s in t o th e
C h ica g o & W e ste rn I n d ia n a R R . C o .; b u t in ste a d o f d o in g th is th e th ree
c o m p a n ie s w ere, th r o u g h an e rro r o n t h e p a r t o f t h e a tto r n e y s , all c o n s o li­
d a te d at o n c e . T h is w as n o t le g a l, a n d it w as t o c o r r e c t th is e rror t h a t Bill
777 w a s In tr o d u c e d a n d p a s s e d .— V . 8 4 , p . 3 9 0 , 21 0 .

Colorado & Northwestern R R .— Receivership.— This 26mile road has been placed in the hands of its Secretary and
Treasurer, W . B. Hayes, as receiver, upon application of
the United States Trust Co. of New Y ork , trustee under the
$ 1,000,000 mortgage, the interest upon which is in default.
Col. S. B. D ick of Meadville, Pa., who recently died, was
the President of the com pany and owned m ost of its stock
and bonds. See V. 83, p. 687.
Corvallis & Eastern R R .— Sale.— A press despatch from
San Francisco dated June 13 states that papers were signed
on that day providing for the sale of the road to the Southern
Pacific, the consideration being reported at about $4,000,000.
The line extends from Yaquina to Idanah, Ore., 142 m iles.—
V. 77, p. 2159.
Dayton Lebanon & Cincinnati R R .— Successor Company.
— See D ayton Lebanon & Cincinnati Railroad & Terminal
Co. below .— V. 84, p. 995.
Dayton Lebanon & Cincinnati Railroad & Terminal Co.—
Successor Com pany.— This com pany was incorporated under
the laws of Ohio on May 31 with $ 1,000,000 capital stock,
the incorporators including Frederick H. Goff and others,
as successor, of the D ayton Lebanon & Cincinnati R R ., re­
cently sold under foreclosure and bid in b y J. F. Morley
for E. G. Tillotson, Vice-President and Manager of the
Cleveland Trust C o.— V. 84, p. 995.
Delaware & Hudson Company.— Cornelius Vanderbilt on
Board.— Cornelius Vanderbilt has been elected a m em ber of
the board of manageis, to succeed Frank E. Smith, of the law
firm of Conway, W eed & Smith, local counsel, who 011 May 14
took the place of Alexander E . Orr tem porarily.—-V. 84, p.
1307, 1247.
Frederick (Md.) Interurban Ry.— Consolidation.— The
“ Financial Bulletin” of Philadelphia 011 April 2 published
the following:
A ll o f th e $ 1 ,0 0 0 ,0 0 0 s t o c k has b e e n su b s c r ib e d .
T h e c o m p a n y w ill also
issue $ 1 ,0 0 0 ,0 0 0 b o n d s.
T h e c o m p a n y w as In c o r p o r a te d fo r th e p u r p o se
o f c o n s o lid a tin g th e F r e d e r ic k & M id d le to w n E lc c t iic R y . C o. (V . 81, p .
1100) •aid th e Jefferson & B r a d d o c k H eigh ts C o ., th e la tte r ro a d h a v in g
h e m iust c o m p le t e d .
T h e In co rp o ra to rs are Ja m es
In gram Jr. a n d
R o b e r t P . G ra h a m , B a ltim o re : T h o m a s H . H aller a n d R ich a rd P . R o s s ,
F r e d e r ic k , a n d E m o r y L . C o b le n tz o f M id d le to w n .
O rg r n iz a tlo n w ill ta k e
p la ce n e x t w eek an d th e c o n s o lid a tio n w ill g o in t o e ff'.ct im m e d ia te ly a fte r
th e o r g a n iz a tio n .
T h e I n te ru rb a n C o m p a n y w ill e o n '/ i u " io op e ra te th e
M yersville & C a to ctin R y . . w h ich Is n o w o p e r a te d l.y •v * f - * ierick &
M id d le to w n C o m p a n y .
T h is lin e runs b e tw e e n M id d le/ ,wn ?ncl M yers­
v ille , c o n n e c t in g a t th e la tte r p la c e w ith th e H a g e rsto w n H ilw ; y C o. A n
e x te n s io n fro m J e ffe rs o n t o B ru n sw ick is al:;o u n d e r c o n s id e ra tio n .

Birmingham (Ala.) Railway, Light & Power Co .— New
Mortgage.— The shareholders have authorized a mortgag ■
to secure $25,000,000 bonds, to provide for the retirement
of the underlying bonds at or before maturity and for future
extensions and im provem ents, additions, & c.— V. 84, p. 803.
Canadian Northern Ry.— Additional Motive Power, &c.,
Frederick & Middletown Electric Ry., Maryland.— See
Required.— I h e Board of Railw ay Commissioners, by order Frederick & Interurban E y . alcove.— V. 81, p. 1100.




1428

THE CHRONICLE.

Georgia Terminal Co., Atlanta, Ga.— $3,000,000 Bonds
Sold.— See Atlanta Birmingham & Atlantic R y . above.
Henderson (K y.) Traction Co.— Successor Com pany.—
This corporation was organized at Henderson, K y ., on Apr.
14 with $150,000 authorized capital stock as successor of the
Henderson Street R y . recently foreclosed and has filed a
mortgage to the Ohio Valley Banking & Trust C o., of H en­
derson, K y ., as trustee, to secure an issue of $150,000 5%
20-year gold bonds. The Cincinnati papers published the
following list of directors, &c.:
H e n r y P . B a rr e t, P re s id e n t; J . H e n r y L y n e , V ic e -P r e s id e n t; C harles F .
D a lla m , S e c r e ta r y a n d T re a su re r; an d B . G . W i t t , o f H n d e r s o n ; C. C.
T e n n is, o f P itts b u r g h ; a n d C harles A . H ln s ch a n d W . F . B o y d , o f C in cin ­
n a ti. M r. H ln sch h e a d e d th e b o n d h o ld e rs ’ c o m m it t e e . [T h e c a p it a l s t o c k
o f th e r e o r g a n iz e d c o m p a n y is $ 1 5 0 ,0 0 0 , o f w h ic h $ 55 ,000 w ill tie tr e a s u r y
stock .
B on d s \*ill b e issu ed a t o n c e t o th e e x t e n t o f $95 ,000 a n d , w it h an
eq u a l a m o u n t o f s t o c k , w ill b e g iv e n t o th e old b o n d h o ld e rs in e x c h a n g e
fo r o ld secu rities (w e u n d e rs ta n d , e a c h 51,000 o ld b o n d d e p o s it e d , w as
e x c h a n g e a b le fo r $500 in new s to c k a n d $500 in n e w b o n d s .— E d .)
M ore
b o n d s t o a t o t a l o f $55 ,000 w ill h e issu e d a t o n c e fo r im p r o v e m e n ts .
The
em b a rra ss m en t o f th e o ld c o m p a n y w as m a in ly d u e t o th e m is a p p r o p r ia tio n
b y b r o k e r A . L . R ic k o f $70 ,000 r e c e ip ts fro m th e sale o f b o n d s .
[T h e n e w
b on d s are d a te d A p ril 15 1907 a n d m a tu r e A p r il 15 1927, b u t are s u b je c t
t o ca ll on A p ril 15 in 191 2, 1917 a n d 1922 at 105 .
In te re s t p a y a b le O ct. 15
a n d A p ril 15 a t o ffic e o f tru ste e .
D e n o m in a tio n $10 0, $500 a n d $ 1 ,0 0 0 .
O u tsta n d in g $ 9 5 ,0 0 0 .
T h e $15 0,00 0 s t o c k is all o u t s ta n d in g — p a r $100.
— E d .] — V . 8 4 , D- 508 .

Interborough-Metropolitan Co., New York.— New Office
for President.— The office of the President has been m oved
from the Park R ow Building to the 17th floor of the United
States R ealty Building, No. 115 B roadw ay.— V. 84, p. 1248,
1242.
Kansas City Southern R y.— Proposed Extension of Syndi­
cate.— Ladenburg, Thalmann & Co., as managers of the syn­
dicate which underwrote the $5,100,000 5 % six-year notes,
have sent circulars to the members asking for an extension
of the syndicate agreement, which was to expire June 22,
until D ec. 22. The “ New Y ork Sun” says: “ The notes
were underwritten at 95 and interest, less an underwriting
commission of 23^>%. It is stated that 6 0 % of the notes
have been disposed o f.— V. 84, p. 1366, 1182.
Lehigh Valley R R .— Dissolution of Syndicate.— The “ Phila­
delphia Ledger” of June 11 said:
T h e L eh ig h V a lle y c o lla te ra l tru s t b o n d s y n d ic a t e , o r g a n iz e d in O c t o b e r
190 5, in c o n n e c tio n w ith th a t c o m p a n y ’ s a c q u is itio n o f th e C o x e B ro th e rs
& C o .’ s c o a l p r o p e r tie s , has b e e n d is s o lv e d . A b o u t 42 % o f th e b o n d s , it Is
s t a t e d , w as d is p o s e d o f b y th e s y n d ic a t e . T h e co lla te r a l tru st b o n d s Issued
fo r th is p u rch a se a m o u n te d t o $ 1 9 ,0 0 0 ,0 0 0 , o f w h ic h s o m e th in g lik e $1 0 ,0 0 0 ,0 0 0 w ere ta k e n b y C o x e B ro th e rs & C o ., th e b a la n ce b e in g ta k e n b y th e
s y n d ic a t e .— V . 84, p . 1367.

Louisville & Nashville R R .— Listed.— The New Y ork Stock
Exchange has listed the $10,000,000 Atlanta K noxville &
Cincinnati Division 4 % bonds, due 1955.
(Compare V . 84,
p. 1367; V. 80, p. 872 )
Issu a n ce o f $ 1 9 ,1 6 0 ,5 3 3 A tla n ta K n o x v ille & C in cin n a ti D iv is io n 4 % B o n d s
(0/ w hich $ 9 ,1 6 0 ,0 0 0 still held b y L . & N . R R . C o . ) .
P u rch a se o f r o a d s ________ $ 2 ,5 2 8 ,5 4 3 R e d e m p tio n o f M a y s v . &
R e v is io n & c o n s t r u c ’n o n
L e x in g t o n R R . C o ., N o rth
A t l . K n o x v . & N o r. R y . 4 ,3 8 6 ,0 0 6 ,
D iv is io n 7 % b o n d s ____
$ 4 0 0 ,0 0 0
C o n s tr u c tio n o f K n o x v ille
C o n s tru ctio n tr a c k s at A t L a F o lle tte & J e llic o R R .
la n ta , a n d A t la n t a B elt
a n d term in a l fa c ilitie s
L in e ______________________
248 ,7 1 5
a t K n o x v ille ____________ 7,206,2581 E n gin e h o u s e s , c o a lin g faT e r m in a l fa c ilitie s a t terI cilitle s , & c ______________
194 ,746
m in a l p o in t s ____________
659 ,9 7 2 R e d u c tio n o f g r a d e s ______
4 4 0 ,4 0 6
E q u ip m e n t _______________ 2 ,2 0 7 ,7 5 3 1S econd t r a c k ______________
26,1 2 9
In terest ___________________
862 ,0 0 5 |

Earnings of L . & N .— For nine months ending March 31:
N in e M o s .
G ross.
1906-07 ... $ 3 6 , 1 2 8 , 5 3 2
1905-06 . . . 3 1 ,9 7 7 ,5 6 0

N et.
Other In co m e. C h arges. B a l . f o r D i v .
$ 9 ,7 7 9 ,9 9 6
$ 1 ,1 1 2 ,8 5 7
$ 5 ,7 7 5 ,9 1 0
$ 5 ,1 1 5 ,9 4 3
9 ,3 9 2 ,5 3 0

Dividends at the rate now paid, 6 % yearly, call for $ 2,700,000 (4^2% ) for the nine m onths.— V. 84, p. 1367, 749.
Maryland Electric Railways, Baltimore.— Dividend In ­
creased.— The directors on June 10 declared semi-annual
dividend No. 2 , 2 % , payable July 1 to stockholders of
record June 21. This increases the annual rate to 4 % per
annum. D ividend No. 1, paid last January, was only 1 ^ % — V. 84, p. 1114, 1052.
Meridian (Miss.) Light & Railway Co.— New Stock.— The
shareholders on June 1 authorized the making of an amend­
ment to the charter authorizing an increase in capital stock
from $ 1,000,000 to $2 ,000,000, to provide for extensions and
additions. See page 58 of “ Street R ailw ay” Section.— V. 78,
p. 1223.
Michigan Central R R .— Bonds Offered.— Moffat & W hite
and Clark, D odge
& C o., both of New Y ork, this
week offered b y advertisement at 99 and interest, yield­
ing about 4 .0 5 % , the small unsold portion of their block of
$1,500,000 Michigan Central R R . C o., Joliet & Northern In ­
diana R R . Co. 50-year first mortgage 4 % gold bonds, dated
July 10 1907, due July 10 1957, which were fully described
in last w eek’s issue.— V. 84, p. 1367.
Milwaukee & Northern (Electric) R R .— M erger.— A press
dispatch from M anitow oc, W is., on June 8 says:
A n Im p o rta n t e le ctr ic r o a d an d in te ru rb a n c o n s o lid a tio n w a s c o n s u m ­
m a t e d a t ShebQ ygan T h u r s d a y w h e n t h e S h e b o y g a n H e a t, L ig h t & T r a c t io n
C o . Interests w ere m erg e d w ith th e M ilw a u k ee & N o rth e r n R y . C o . an d th e
t w o c a m e u n d er on e m a n a g e m e n t. T h e M ilw a u k e e & N o rth e r n r e c e n tly
filed Its $4,0 0 0 ,0 0 0 tru st d e e d a t S h e b o y g a n , a n d th is, to g e t h e r w it h th e
m erger w ith th e S h e b o y g a n e le ctr ic lin e w h ic h h ad be e n u n d e r c o n s id e r a tio n
fo r so m e tim e p a s t, fo re c a s ts th e Im m e d ia te b u ild in g o f t h e lin e fr o m M il­
w au k ee t o S h e b o y g a n v ia P o r t W a s h in g t o n .— V . 84, p . 1 36 7.

New England Investment & Security Co.— A cquisition.—
This com pany, which holds practically all the street railway
properties in Massachusatts, b ou gh t in the interest of the
New Y ork New Haven & H artford R R . C o., has arranged
to acquire all, or nearly all, o f the $80,900 capital stock of
the 10-mile Uxbridge & Blackstone Street R y . b y exchange
for its own stock, share for share. There are $80,000 first




[V o l .

l x x x iv

mortgage 5 % bonds on the road, due Feb. 2 1923.— V. 84,
p. 1052, 996.
New York Central & Hudson River RR.— Option on Control
of New York Ontario & Western R y .— The com pany's option
on the controlling interest in the New Y ork Ontario &
Western R y . Co. held by the New Y ork New H aven & Hart­
ford is m entioned below under caption of the last-named
com pany. The stock in question includes $29,160,000
com m on (out of $58,113,982), acquired b y the New Haven
road at $45 per share (par $100), and $2,200 of the $4,000
preferred. The N. Y . N. H. & H. issued $20,759,325 3 }4 %
debentures (V. 80, p. 2458) to finance this acquisition and
there is some speculation on the Street as to how the
Central, in case it exercises its option, will handle the
m atter.— V. 84, p. 1308, 1248.
New Y ork New Haven & Hartford R R .— Boston & M aine
M en as Directors.— The follow ing additional directors are
announced, the three last named being directors of the
B oston & Maine, and the others, it is understood, assenting
holders of that com pany’s stock.
H e n r y K . M c H a r g o f S t a m fo r d , F r e d e r ic k F . B re w ste r o f N ew H a v e n ,
A . H e a to n R o b e r t s o n o f N e w H a v e n , L e w is Cass L e d y a r d o f N ew Y o r k ,
Charles M . P r a tt o f N e w Y o r k a n d R ic h a r d O ln e y o f B o s to n .

Trackage over Boston & Albany.— The follow ing has been
given out:
T rackage R ights to A lb a n y .— T h e c o m p a n y , it is a n n o u n c e d , has o b ta in e d
fr o m th e N ew Y o r k C en tral & H u d s o n R iv e r R R . , as p a r t, It Is u n d e rs to o d ,
o f th e a m ica b le a g r e e m e n t t o u c h in g th e p u rch ase o f th e B o s to n & M aine
tr a c k a g e rig h ts o v e r t h e B o s to n & A lb a n y R R . , as fo llo w s : F r o m S ta te
L in e , b e tw e e n th e N ew Y o r k a n d M assach u setts S ta te lin es, t o A lb a n y ,
N . Y . ; b e tw e e n B o s to n C o m e r s , N . Y . , t o C h a th a m , N . Y . ; b e tw e e n P it t s ­
field an d N o rth A d a m s , M ass.; b e tw e e n S p rin gfie ld , M ass., an d S ta te L in e
a n d b e tw e e n A sh la n d an d B o s to n , M ass. T h e n e w tra ck a g e fa cilities
w ill give n e w ro u te s t o w e ste rn and o th e r p o in t s , a n d ste p s, it Is s a id ,
w ill a t o n c e b e ta k e n t o in crea se th e passen ger a n d fre ig h t s e rv ice b y w a y
o f A lb a n y .

President Mellen is quoted as saying:
T h e p u b lic a tio n o f th e fa c t th a t th e N ew Y o r k N ew H a v e n & H a r tfo r d
R R . has a c q u ir e d n e w tr a c k a g e rig h ts o v e r th e B o s to n & A lb a n y R R . fro m
A lb a n y p r a c tic a lly in t o B o s to n m e a n s th a t h e n c e fo r th w e are v ir tu a lly
p a rtn e rs w ith th e N ew Y o r k C en tral In th e a d v a n ta g e s t o b e d e r iv e d fro m
th e use o f th e A lb a n y r o a d . T h is a g reem en t w as r e a ch e d b e tw e e n P resi­
d e n t N e w m a n o f th e N ew Y o r k C en tral an d m y s e lf s o m e th re e m o n th s a g o ,
a t th e sam e t im e t h a t o u r p la n s fo r th e fu tu r e d is p o s itio n o f th e N ew Y o r k
O n ta rio & W e s te rn w ere ag reed u p o n .
B y th is I d o n o t m ean t h a t a hard
and fa s t, I ro n -cla d c o n t r a c t w as draw n u p an d sig n e d b e tw e e n P re s id e n t
N e w m a n an d m y s e lf, b u t t h a t th e a g reem en t w as p u t in to b la c k an d w h ite
an d in itia le d b y b o th o f us. C o m p a re V . 84, p . 136 7.

Earnings— Balance Sheet— New Securities.— See statement
of April 30 1907 under “ Annual R eports” on a preceding
page of this issue.— V. 84, p. 1367, 1242.
New York Ontario & Western R y.— Additional Bonds.—
The New Y ork State Railroad Commission has authorized
the com pany to issue $1,948,000 additional 4 % bonds, se­
cured b y the general mortgage of 1905, to provide for addi­
tions and im provements on leased lines and for new equip­
m ent. This authorization will make $3,948,000 general
m ortgage 4s issued and issuable, $2,000,000 of the bonds
having been put out in 1905. The mortgage is lim ited to
$ 12 ,000 ,000.

Option.— See New Y ork New Haven & H artford R R .
ab ove.— V. 84, p. 932.
Oneida Railway Co.— New Stock for A lly of West Shore RR.
— The shareholders will vote June 22 on a proposition to in­
crease the capital stock from $15,000 to $2,000,000. The
proceeds, it is said, will be used for equipping the West Shore
R R . between Utica and Syracuse with the third-rail electric
system , the Oneida Railway Co. being an ally of the W est
Shore.— V. 73, p. 616.
Passenger Fares.— Two-Cent Fare Bill in New York Vetoed.
— Governor Hughes on June 11 vetoed the Baldwin bill pro­
viding for a rate of 2 cents a mile on all railroads in the State
having a mileage of 150 miles or m ore.
T h e g ro u n d s g iv e n are, in a g en eral w a y , t h a t th e p r o p o s e d ra te w o u ld
p r o b a b ly b e u n fa ir an d d isa stro u s t o m a n y ro a d s ; th a t th e L egislatu re has
a tte m p te d t o p r o v id e a r e m e d y fo r d is s a tis fa c tio n w ith e x is tin g co n d itio n s
w ith o u t p r e v io u s In q u iry ; an d th a t th e P u b lic S e rv ice C om m ission s
w h ich g o in t o o ffic e o n J u ly 1, w ill b e ab le t o d e a l w ith th e m a tte r in a
s a tisfa c to r y m a n n e r, w h ich It is p r a c t ic a lly Im p o ssib le fo r th e L egislatu re
to d o .
See rem ark s In “ F in a n cia l S it u a t io n ” a n d V . 84, p . 932, 1248.

The latest inform ation from other States is as follows:
W is c o n s in .— T h e S e n a te o n J u n e 13 b y a v o t e o f 21 t o 6 k ille d th e H u s tin g
flat 2 -c e n t fare b ill.
T h e R a ilr o a d C o m m issio n r e c e n tly m a d e an ord er
fix in g a 2 J^-cent rate o n th e p r in c ip a l r o a d s (V . 84, p . 868) .
M is s o u r i.— J u d g e M cP h e rs o n o n Ju n e 13 g ra n te d th e p e t itio n o f 18 M is­
sou ri r a ilro a d s fo r a t e m p o r a r y I n ju n c tio n re stra in in g th e S ta te o ffic ia ls
fro m p u t t in g Into e ffe c t b o th th e m a x im u m fre ig h t ra te an d th e 2 -c e n t pas­
senger la w ( V . 84, p . 8 6 8 ).— V . 84, p . 130 8, 124 8.

Pawcatuck Valley Street Railway.— Reorganization.— The
“ Boston Herald” of June 1 said:
A r e o rg a n iz a tio n has b e e n e ffe c te d b y a c o m m it t e e o f b o n d h o ld e r s c o n
slstln g o f E . P . S haw J r ., o f th e B o s to n & W o r c e s te r S tre e t R a ilw a y C o .;
H . F . W a lk e r , P re sid e n t o f th e W a r r e n N a tio n a l B a n k o f P e a b o d y , M a ss .,
a n d R u fu s C o ffin o f th e firm o f R u fu s C o ffin & C o.
T h is r a ilro a d d e fa u lte d o n Its in te re st N o v . 1 1906.
I t h a d b o n d s fo r
$ 1 0 0,00 0 first m o r tg a g e , $ 4 0 ,0 0 0 s e c o n d m o r tg a g e an d c a p ita l s to c k $ 7 5 ,0 0 0 .
A m a jo r it y Interest o f th e b o n d s a n d s t o c k w e re o w n e d b y W . L . M au ran o f
th e W e s te rly L ig h t & P o w e r C o ., a n d b y an a rra n g e m e n t w ith th e c o m m it t e e
th e o u ts ta n d in g b o n d s w e re c a n c e le d a n d a n e w m o r tg a g e o f $50 ,000
p la c e d u p o n th e p r o p e r t y , w ith an a d d itio n a l a m o u n t o f $ 14 ,000 c o n t r ib u te d
b y th e b o n d h o ld e r s , w h ic h m o n e y has g o n e In to p e r m a n e n t I m p r o v e m e n ts
an d is n o w c o v e r e d b y t h e n e w m o r tg a g e .— V . 7 7 , p . 2281.

Philadelphia Baltimore & Washington RR.— Consolidation.
— Philadelphia advices state that the meeting called for July
31 to increase the com pany’s indebtedness has in view the
merger with the com pany of the allied lines of the Pennsyl­
vania system , including, it is understood, the Philadelphia
& Baltimore Central R R ., Union R R . of Baltimore, Delaware
Maryland & Virginia, Baltimore Chesapeake & Atlantic and
Delaware R R .— V. 84, p. 1368.
Poughkeepsie & Eastern R y.— Consolidation.— See Central
New England R y . a b ove.— V. 84, p. 804, 694.

J u n e 15 1907.]

THE CHRONICLE

Puebla (Mexico) Tramway, Light & Power Co.— Bonds
Offered.— This com pany was incorporated in Canada, its
authorized capital stock being $5,000,000. F. B. Mc­
Curdy & Co., Montreal, are offering at 90 and interest,
carrying a 50 % stock bonus, a block of the gold bonds,
authorized issue $6,000,000, issued $1,850,000. The bonds
are dated Jan. 1 1907 and are redeemable on Jan. 1 1937 b y
means of a sinking fund of 1% per annum, commencing
Jan. 1 1912, which m ay be applied in redeeming the bonds
b y annual drawings at 105% , or b y purchase at or below
that price; or the bonds m ay be redeemed at 105% on or
after Jan. 1 1917. Trustee, National Trust Co., Toronto.
Interest payable Jan. 1 and July 1 b y coupon at Bank of
Montreal, Montreal, New Y ork or London, and at the bank’s
agents in Berlin, Brussels and Basle. The principal is paya­
ble in Montreal or in London at the par of exchange. A
circular, evidently prepared several months ago, says in
substance:
T ra m w a ys.— T h e c o m p a n y has a cq u ire d th e en tire t r a m w a y s sy stem In
P u e b la , w h ich Is on e o f th e largest citie s In M e x ico , an d has a p o p u la tio n
o f a b o u t 1 50 ,000 .
T h e c o m p a n y ’ s con ce ssio n s In th e c it y are p e rp e tu a l,
a n d g iv e th e sole rig h t t o o p e ra te tra m w a y s w ith in th e c it y fo r a term o f
50 yea rs, w h ile th e su bu rba n fra n ch ise d o e s n o t e x p ire till 1988. T h e
c o m p a n y in ten d s t o e x te n d Its p resen t m ileag e (b e in g 16 m iles) t o a dista n ce
o f 40 m iles, and t o c o n v e r t th e w h o le sy ste m in to e le ctr ic tr a c tio n , b e g in ­
n in g w ith th e b elt line in th e c it y an d th e su b u rb a n lin e tq, C h alu la. T h e
d ir e cto r s ’ p o lic y o f e x te n sio n is n o t t o in cu r h e a v y e x p e n d itu r e u n til there
Is an assured p r o s p e c t o f s a tisfa c to r y returns.
E lectric L igh tin g.— T h e c o m p a n y has also a cq u ire d th e e n tire e le ctr ic lig h tin g p la n t n o w o p e r a tin g in th e c it y , an d has secu red a p rofita b le an d e x ­
c lu siv e c o n tr a c t fo r th e c it y street lig h tin g till 1929; an d n e g o tia tio n s are
n o w p e n d in g fo r th e e x te n sio n o f th is c o n t r a c t. T h e e le ctr ic -lig h tin g c o m ­
p a n y in 1905 w as s u p p ly in g som e 12,000 la m p s , fro m w h ich th e net
p rofit w as 5 70 ,500 (g o ld ).
U p o n th e ra tio o f la m p s t o p o p u la tio n in th e
C ity o f M e x ico , th ere sh ou ld b e a d e m a n d fo r 50,0 0 0 la m p s in P u e b la , and
a sale fo r at least 30,0 0 0 la m p s m a y b e e x p e c t e d as soon as th e sam e ca n be
In stalled, w h ich sh ou ld giv e a n e t p r o fit o f $15 0,00 0 gold p er an n u m . T h e
co m p a n y has en tered in to a c o n t r a c t , on a d v a n ta g e o u s te rm s, w ith
th e F ortezu ela P ow er C o. fo r th e s u p p ly o f p o w e r up t o 2,0 0 0 h o rse -p o w e r
fo r 20 y ea rs, w h ich ensures a s u fficie n t su p p ly o f p c w e \
W ater P o w e r .— T h e c o m p a n y has also a cq u ire d o n e o f th e m o s t v a lu a b le
w a ter pow ers in. th e R e p u b lic o f M e x ico .
T h is p o w e r w ill d e v e lo p at least
20,000 h ors e-p ow er in th e d r y season , and th e c o s t p er h orse p o w e r fo r d e ­
v e lo p m e n t w ill n o t be o v e r o n e -h a lf o f th e a vera ge c o s t o f such in sta lla tio n s
T h is p o w e r Is s itu a te d a t T u x p a n g o m , in th e S ta te o f V e ra C ru z, near th e
C ity o f O riz a b a , a b o u t 80 m iles fro m P u e b la . T h e tra n sm ission lin es w ill
pass th ro u g h a c o u n tr y In w h ich there w ill b e a large d e m a n d fo r p o w e r in
th e fu tu re , an d it is p r o b a b le th a t th e en tire o u t p u t ca n be d is p o s e d o f w ith in
a fe w years.
E a rn in g s.— T h e tr a m w a y and e le ctr lc -llg h tln g business h a v e n o t h ith e rto
been op e r a te d In an en e rge tic o r e c o n o m ic a l m a n n e r, m u le tr a c tio n b e in g
e m p lo y e d t o o p e r a te th e tr a m w a y s ; b u t n o tw ith s ta n d in g th ese u n fa v o r a b le
cir c u m s ta n c e s, th e tr a m w a y s m a d e a n e t p r o fit In 1905 o f $25 ,500 g o ld
an d th e e le ctr lc -llg h tln g a n e t p r o fit o f $70 ,5 0 0 ; t o t a l, $96 ,0 0 0 .
E a rn in g s Tor 11 M o n th s E n d in g N o v . 30 1906 (in G old ).
G ross earn in gs, t r a m w a y s ___ $80,197 |G ross ea rn in gs, lig h tin g _____$13 5,36 0
W o r k in g exp en ses, tr a m w a y s 5 4 ,9 6 0 1W o r k in g e x p e n se s, lig h tin g .
57,5 6 4
N et p r o f it . _______ __________ $ 25,237 | N e t p r o fit .................................$77,796
T o t a l n et p r o fit fo r th e 11 m o n t h s ____________________________________$103,033
Status on B a sis o f P a rtly E stim ated R esults fo r C alendar Y e a r 1906.
U p o n th is basis, th e net earn in gs fo r 1906 sh o u ld a m o u n t a p p r o x i­
m a t e ly _________________________________________________________________$ 1 1 2,50 0
A m o u n t req u ired fo r in terest on $ 1 ,8 5 0 ,0 0 0 5 % g o ld b o n d s ________
92,5 0 0
'L e a v i n g a n et surplus o f _____________________________________________ $20 ,000
E stim ated E a rn in g s (In G old) on C om pletion o [ P ro p o sed E x ten sio n s as Stated
A b ove.
T r a m w a y s — N et e a r n in g s ___________________
_______________________
$50,000
E le c tr ic lig h tin g — N et earn in gs, e s tim a te d o n basis o f 30,0 0 0
la m p s e x p e c t e d t o be in stalled w ith in 18-24 m o n t h s _______________ 150,000
T o ta l n et e a r n in g s ___________________________________________________ $ 20 0 ,0 0 0
In terest o n say $ 2 ,0 0 0 ,0 0 0 5 % b o n d s (n o w issu ed $ 1 ,8 5 0 ,0 0 0 )____ 100,000
S u r p lu s _________________________________________________________ ______ $10 0,00 0
T h ese e s tim a te d earn in gs are o n ly fo r th e w o rk n o w a b o u t t o b e u n d er­
ta k e n , an d c o n s id e r a b ly g reater earn in gs m a y be e x p e c t e d w h e n e v e r the
results o b ta in e d fro m th e presen t e x p e n d itu r e ju s t if y fu rth e r e x te n sio n s o f
th e tr a m w a y s and th e d e v e lo p m e n t o f th e c o m p a n y ’ s w a te r-p o w e r.

Rochester Syracuse & Eastern (Electric) RR.— New Stock.
— The New Y ork State Railroad Commission has authorized
the com pany to increase its com m on stock from $3,500,000
to $6 ,000,000, making the total capital stock, com m on and
preferred, $8,500,000.— V. 84, p. 272.
St. Louis & San Francisco RR.— Guaranteed Equipment
Notes Offered.— G. H. Walker & Co. and Francis Bro. & Co.,
both of St. Louis, having sold over one-half of the issue, are
offering at prices to yield 6 % per annum, by advertisement
on another page, the remainder of $5,074,000 5 % equipment
notes, direct obligations of the Railroad Com pany, dated
Aug. 1 1907, and guaranteed b y the American Car & Foundry
Co. These notes will mature in semi-annual instalments on
Feb. 1 and Aug. 1 from 1908 to 1917, the first installment
being $262,000 and the last $244,000. Denomination $ 1,000.
Interest payable Aug. la n d Feb. 1. Trustee, St. Louis Union
Trust Co. The notts are secured b y a first lien on 3,000 box
cars (steel underframe), 500 gondola cars and 1,000 stock
cars, on which 10% was paid in cash, the remainder being
represented b y this issue of notes.— V. 84, p. 750, 627.
Southern Pacific Oo.— Reported Acquisition.— See Cor­
vallis & Eastern R R . a b ove.— V. 84, p . 1249, 1183.
United Railways Investment Co.— No Preferred Dividend
July 1.— The directors have decided not to pay on July 1 the
semi-annual dividend then due on the $15,000,000 (5 %
cum ulative) preferred stock. The last tw o dividends were
paid in scrip. A director is quoted as saying in substance:

1429

United Traction Co., Albany, &c.— Additional Bonds.—
The directors have authorized the issue of $859,000 additional
first consol. 4J^s dated 1904, making $2,588,000 of the
bonds issued or issuable forthwith. The remainder of the
authorized issue of $6,500,000 consols is reserved to retire
prior liens.— V. 84, p. 1368, 932.
Uxbridge & Blackstone Street R y.— Sale.— See New Eng­
land Investm ent & Security Co. above.
Western New York & Pennsylvania Traction Co.— Addi­
tional Bonds.— The New Y ork State Railroad Commission
has authorized the com pany to issue $300,000 additional
“ first and refunding m ortgage” bonds. The total am ount
outstanding will be $2,474,000. See V. 83, p. 1292.
Wisconsin
change says:

Central

R y.— Syndicate

Extended.— An

ex ­

B row n B ro s. & C o ., E d w a r d S w e e t & C o ., G . A . F e rn a ld & C o. a n d M a it­
la n d , C o p p e ll & C o ., c o m p o s in g th e s y n d ic a t e w h ich p u rch a se d th e m a jo r
p o r t io n o f th e $ 7 ,0 0 0 ,0 0 0 W is c o n s in C en tral b o n d s a y e a r a g o , h a v e e x te n d e d
th e te rm o f th e ir a g re e m e n t f o r o n e y e a r . T h e a g re e m e n t w as t o e x p ir e
J u ly 1 1 90 7.— V . 83. p . 1413, 985.

INDUSTRIAL, GAS AND MISCELLANEOUS.
American Ice Securities Co.— Inspection Limited.— The
Appellate Division of the Supreme Court, First Division, on
June 7 handed down a decision (Justice Scott writing the
opinion) limiting the right recently granted to A ttorneyGeneral Jackson to examine the com pany’s records, with a
view to obtaining inform ation upon which to base an action
against the com pany for violation of the State Anti-Trust
laws. Compare V. 84, p. 1184, 933.
T h e C o u rt says t h a t n o tim e lim it sh o u ld b e p la c e d o n th e e x a m in a tio n ,
as som e o f th e c o n t r a c ts m a d e b e fo r e M arch 8 1904 m a y still b e ^ n fo r c e , o r
i f n o t , th e y m a y still h a v e an Im p o r ta n t b e a rin g on th e c o n tr a c ts su b se­
q u e n tly m a d e .
B u t th e o rd e r m a d e b y th e lo w e r c o u r t , it is s t a t e d , is t o o
b r o a d in p e r m it t in g th e e x a m in a tio n o f all b o o k s o f a c c o u n t , v o u c h e r s , & c.
o f th e co m p a n y .
T h e e x a m in a t io n o f su ch r e c o rd s te n d in g t o sh ow th e
p r o fits m a d e o r th e u n re a so n a b le n e ss o f t h e p rice s ch a rg e d Is n e ith e r p r o p e r
n o r m a te ria l a t th e p ie s e n t t im e , th o u g h lt m a y b e t h a t la te r d e v e lo p m e n ts
w ill m a k e s u ch a th o r o u g h e x a m in a tio n n e ce s s a ry o r a d v is a b le . T h e o r d e r
o f J u s tic e G re e n b a u m Is th e r e fo r e m o d ifie d t o in c lu d e o n ly th e c o n t r a c ts
m a d e b y th e c o m p a n y a n d all c o r re s p o n d e n c e r e la tin g t o su ch c o n t r a c ts ,
regardless o f d a t e .
S h o u ld fa c t s b e d is c lo s e d b y s u ch an e x a m in a tio n t o
j u s t if y an in s p e c tio n o f th e o th e r b o o k s , p a p e rs an d d o c u m e n ts b e lo n g in g
t o th e c o m p a n y , t h e A t to r n e y -G e n e r a l m a y a p p ly fo r an e x te n s io n o f th e
o r d e r .— V . 84, p . 1184, 1054.

American Pneumatic Service Co., Boston.— Change in
Management.— A t the adjourned annual meeting on June 12
the Ames ticket was elected b y a vote of 168,377, being a
m ajority of 27,064. The directors now are:
W illia m H . A m e s , E u gen e N . F oss, O liv e r W . M in k , O akes A m e s , Charles
F . A y e r , A t h e r t o n L o r ln g , F r e d e r ic k P . R o y c e a n d G ilm er C lapp o f B o s to n ;
H o w a r d G o u ld , J . J . K e n n e d y , W illia m B . J o y c e a n d J o h n R . M u lh olla n d
o f N ew Y o r k ; G eorg e H . C h a n d le r o f M a n ch e s te r, N . H .; W illia m S. M e
C u rd y o f S t . P a u l, M in n ., a n d Jam es L . W o l c o t t o f D o v e r, D el.

The officers, to be elected next week, it is said, will be:
William H. Ames, President; Gilmer Clapp, Treasurer; W . E.
Barnard (re-elected), Secretary.
Applications, it is announced, have been made for instal- '
ling the mail tube service in Pittsburgh, Baltimore, Cincin­
nati, Kansas City and San Francisco, at a probable cost to
the com pany of about $325,000. The floating debt is said
to be only about $200,000.— V. 84, p. 1249, 1244.
Armstrong Cork Co. of Pittsburgh.— New Stock.— This
Pennsylvania corporation early last m onth filed a certificate
of increase of capital stock from $2,500,000 to $3,500,000;
Par of shares $100. President, Thomas M. Arm strong;
Secretary and Treasurer, W m . H . Pfahl.
The shareholders in April 1902 voted to increase the com ­
pany’s indebtedness to $400,000. Am ount of present in­
debtedness not known.
Arrowhead Reservoir & Power Co., Cincinnati.— New
Stock.— This com pany, incorporated under the laws of Dela­
ware Oct. 5 1905 with $8,000,000 capital stock, filed on May
17 1907 a certificate of increase of stock from $6,000,000 to
$6,500,000; par of shares $100.
T h e c o m p a n y ’s p r o p e r ty Is situ a te d in th e C o u n ty o f S an B e r n a rd in o ,
C a l., and in clu d e s a p a r tly c o n s tr u c te d r e s e rv o ir w h ic h , it Is e x p e c t e d , w ill
a ffo r d irrigation fo r p erh ap s 25,0 0 0 a cre s .
O n J a n . 2 1907 th e shareh olders
w ere t o v o t e on a p ro p o s itio n t o in crea se th e c a p ita l s t o c k as a b o v e , and also
t o m ak e a m o r tg a g e t o a tru st c o m p a n y in L os A n g e le s o r so m e o th e r c it y
as tru ste e , t o secure an issue o f $ 6 ,5 0 0 ,0 0 0 5 % gold b o n d s in d e n o m in a tio n s
o f $500 and $ 1 ,0 0 0 .
T h e c o m p a n y , in O c t o b e r la st, stated th a t lt had
agreed t o p u rch a se all th e p r o p e r t y o f th e A rro w h e a d R e s e r v o ir C o. In San
B e rn a rd in o C o. and in p a rt co n s id e r a tio n th e r e fo r t o g iv e $36 2,35 2 b on d s
and t o assu m e th e d e b ts o f said c o m p a n y .
T o p a y th e aforesaid In d e b te d ­
ness, t o e x te n d th e business an d d e v e lo p th e p ro p e r tie s , th e p r o p o s e d Issues
o f s to c k an d b o n d s w ere r e c o m m e n d e d .
B e n . F . E h rm a n , R o o m 50, W ig ­
gins B lo c k , C in c in n a ti, O ., Is S e creta ry;
V ic t o r C . S m ith . B e rn a rd in o,
C a l., is G eneral M an ager.
B e sides M r. S m ith th e in c o rp o ra to r s w ere J oh n
D . W o r k s , H . E . T ra s k , F . C . F ln k le , all o f L o s A n g e le s.

Atlantic & Birmingham Construction Co.— See Atlanta
Birmingham & Atlantic R y . under “ Railroads” above and
in V. 83, p. 35.
Baltimore Electric Co.— New Securities.— The “ Baltimore
Sun” (of June 14) understands that H. C. Brown & Co. of
Baltimore have organized a syndicate to finance this com ­
pany’s requirements. The advisability of entering the gas
field, it is stated, is under consideration.— V. 84, p. 1369.

T h e passin g o f t h e d iv id e n d w as in e v ita b le a n d has lo n g b e e n d is c o u n te d .
T h e strik e o f th e em p lo y e e s o f th e U n ite d R a ilro a d s o f San F ra n cisco , th e
d a m a g e t o t h a t c o m p a n y ’ s p r o p e r ty a n d th e loss o f business cau sed b y th e
e a rth q u a k e , a n d th e p o litic a l tro u b le In w h ich lt has re c e n tly been I n v o lv e d ,
w ere fa c to r s so p o w e rfu l in re d u c in g e a rn in gs an d in cre a sin g e x p en ses th a t
th e U n ite d R a ilr o a d s has be e n u n a b le t o p a y d iv id e n d s t o Its p a re n t c o m ­
p a n y fo r a b o u t a y ea r.

Birmingham Coal Co.— Consolidation Proposed with Iron
Com pany.— See Atlanta Birmingham & Atlantic R y . under
“ Railroads” above.

The United Railroads of San Francisco is reported to be
constantly increasing its car service in spite of the strikers.
(Y . 84, p. 1115.)— V. 84, p. 1109.

Birmingham Iron Go .— Consolidation Proposed with Coal
Com pany.— See Atlanta Birmingham & Atlantic R y . under
“ R ailroads” a b ove.— V. 83, p. 40.




1430

THE CHRONICLE.

Brunswick (Ga.) Steamship Co.— Earnings, & c.— See A t­
lanta Birmingham & Atlantic R y . under “ R ailroads” above.
— V. 83, p. 1292.
California Oilfields, London.— New Securities.— The Lon­
don Stock Exchange has been requested to list a further issue
of 125,000 ordinary shares of £1 each, Nos. 250,001 to 375,000. A London paper recently said in substance:
A.n issu e o f 125 ,0 0 0 o r d in a r y shares o f £ 1 e a ch Is o ffe r e d t o th e e x is tin g
sh a reh old ers a t th e ra te o f o n e n e w sh are fo r e v e r y t w o shares n o w held
a t £ 4 10s. p er sh a re , p a y a b le £ 2 p e r share o n a c c e p t a n c e a n d £ 1 5s. o n
F e b . 15 a n d £ 1 5s. o n M arch 15.
£ 3 0 0 ,0 0 0 5 % first m o r tg a g e d e b e n tu re s are t o b e o ffe re d a t 97 >6 % ,
p a y a b le 1 0 % on a p p lic a tio n , .‘i 7 14 % o n a llo tm e n t, 2 5 % o n F e b . 15 a n d 2 5 %
o n M arch 15.
N o t e x c e e d in g £ 2 0 0 ,0 0 0 a d d itio n a l d e b e n tu re s , ra n k in g
pari pas3U w ith th e presen t issu e, m a y b e s o ld , p r o v id e d th a t th e re shall
h a v e been s u b s c r ib e d , In cash share ca p ita l t o be h e re a fte r a l lo t t e d ,a n
a m o u n t eq u a l t o n o t less th a n th e p a r v a lu e o f th e fu rth er d e b e n tu re s.
A n n u a l sin k in g fu n d , b e g in n in g D e c. 31 1908, £ 2 0 ,0 0 0 , t o p u rch a se th e
d eb en tu res o r t o d ra w th em at 1 0 2 an d in te re st, a t w h ich p rice th e en tire
Issue m a y b e ca lled o n o r a fte r Ja n . 1 1911 a n d m u st b e p a id o n Jan . 1 1924.
C o m p a re V . 8 3 , p . 91.

Carnahan Tin Plate & Sheet Co., Canton, O.— See United
Steel Co. of Canton, Ohio, below .— V . 84, p. 695.
(Philip) Carey Manufacturing Co., Locklaad, O.— Stock.—
This com pany recently filed a certificate of increase of
authorized capital stock from $1,000,000, of which 1500,000
was 6% cum ulative preferred, to $3,000,000, o f which
$1,000,000 is preferred and $2,000,000 com m on. The out­
standing capital theretofore consisted of $500,000 com m on
and $400,000 p ref., and the com pany had no bonds or m ort­
gages on its property. President G. D. Crabbs wrote that
“ the new stock will be issued from time to time as required.”
The Cincinnati Stock Exchange is reported to have listed all
of the $ 1,000,000 preferred and $2 ,000,000 com m on.
A Columbus, O hio, paper recently had the follow ing, but
we have been unable to confirm it:
A ll s h a reh old ers o f re c o r d w ill b e p e r m itte d t o s u b s c r ib e a t p a r t o 560 0 ,0 0 0
rre d s t o c k , w h ile a b lo c k o f th e new c o m m o n w ill b e issued t o th e
Ereo ldfeers
o f th e c o m m o n shares as a s t o c k d iv id e n d , in o r d e r t o d is trib u te
th e a c c u m u la te d su rplu s. T h e c o m p a n y is p re p a rin g t o en la rge its p la n t at
L o c k la n d a n d also t o e r e c t a la rg e p la n t in C a n ada.
A C a n a d ia n su b sid ia ry
o f th e sa m e n a m e w as in c o rp o ra te d la te In J a n . 1907 w ith $ 1 0 0 ,0 0 0 ca p ita l
stock .
C o m p a re V . 7 5 , p . 32.

Central Foundry Co.— New President.— August Heckscher
has been elected President in place of A . F. Gartz, who re­
cently resigned, and W illiam H . Rem ick, of R . L. D ay & Co.,
bankers, a director, to fill a v an ca cy.— V. 84, p. 161.
Central & South American Telegraph Co.— Listed.— The
New Y ork Stock Exchange has listed $2,082,400 additional
capital stock, making the total listed $10,000,000. Of the
new stock $2 ,000,000 was issued as a stock dividend in ac­
cordance with a resolution of the board of directors adopted
on March 26, which begins as follows:
“ W h erea s, th e a c c o u n ts o f th e c o m p a n y sh o w t h a t e a rn in gs t o th e a m o u n t
o f $ 1 ,7 8 3 ,0 0 0 h a v e be e n e x p e n d e d in p la n t a n d b e tte r m e n ts , an d c o n t r a c ts
o f g rea t v a lu e , w h ich y o u r d ir e cto r s v a lu e a t n o t less th a n $ 2 1 7 ,0 0 0 , h a v e
b e e n a c q u ir e d b y y o u r c o m p a n y , m a k in g a t o t a l o f $ 2 ,0 0 0 ,0 0 0 .”
C o m p a re
V . 8 4 , p . 118 4, 105 4.

[V o l .

l x x x iv

.

at auction at an average o f slightly over $95 per share; par
$50.— V. 84, p. 628.
Dominion Bridge Co., Montreal.— New Stock— Acquisi­
tion.— The com pany has increased its authorized issue of
capital stock from $1,000,000 to $2,000,000. The share­
holders last m onth authorized the purchase of the structural
steel plant of the L ocom otive & Machine Co. of Montreal
(V. 82, p . 283).
Dominion Textile Co.— Listed in M ontreal.— The Montreal
Stock Exchange on June 5 listed this com pany’s $5,000,000
of outstanding capital stock.
Report.— The annual report of the directors presented at
the general meeting o f the shareholders on May 30 said in
substance:
T h e c o m p a n y has in o p e r a tio n 8,0 4 8 lo o m s , 3 68 ,905 s p in d les, a n d e m ­
p lo y s a b o u t 6,000 h a n d s, a n d p a id in w a ges o v e r $ 1 ,7 5 0 ,0 0 0 , b e in g a la rg e
a d v a n c e o v e r th e p re v io u s y e a r , a n d o n th e 1st o f A p ril la st th ere w as a
fu rth e r large in crea se o f w a g es m a d e t o th e e m p lo y e e s .
O w in g t o th e larg e d e m a n d fo r c o t t o n yarn s fro m th e k n ittin g c o m p a n ie s ,
w h ic h has t a x e d th e c a p a c it y o f th e ir y a rn m ills t o th e fu lle s t e x t e n t , It has
be e n d e e m e d a d v is a b le b y th e d ir e cto r s t o increase th e o u t p u t o f th eir
y a m p la n t a t M o n tm o r e n c y F a lls b y th e a d d itio n o f a n o th e r s t o r y t o th e
y a r n m ill, a n d w o rk o n this p la n t Is n o w in pro g re ss.
W h e n c o m p le t e d ,
th e c o m p a n y w ill b e In a p o s itio n t o s u p p ly th e in cre a se d re q u ire m e n ts
o f th e k n ittin g c o m p a n ie s fo r so m e y e a rs t o c o m e .
E x te n s iv e im p ro v e m e n ts are n o w u n d e r w a y t o im p r o v e th e b lea ch eries
o f th e c o m p a n y .
W h e n th ese are c o m p le t e d , th e fa c ilitie s f o r tu r n in g o u t
b le a c h e d g o o d s w ill b e o f th e v e r y first o r d e r , an d s h o u ld te n d t o in crea se th e
sale o f these lines v e r y m a te ria lly .
D u rin g the p a st y e a r a large n ew s to r e ­
h o u se w a s e re cte d a t th e M erch an ts M ill, w h ich is n o w a lm os t c o m ­
p le te d .
T h e fin a n cial s ta te m e n t sh ow s th a t th e net earn in gs fo r th e y e a r , a fte r
w ritin g o ff th e large sum o f $ 2 0 5,82 6 fo r repairs, b e tte r m e n ts , & c ., t o th e
m ills, a m o u n t t o $ 8 9 8 ,5 1 8 .
O u t o f th is a m o u n t has be e n p a id in teres t o n
b o n d s , d iv id e n d s on p re fe rre d s t o c k , ren t o f D o m in io n an d M erch an ts M ills,
a m o u n tin g in all t o $ 7 3 1 ,8 3 9 , le a v in g a su rplu s o f $ 1 6 6 ,6 8 0 . T h is su m ,
t o g e th e r w ith th e d iv id e n d s r e c e iv e d sin ce c lo s in g th e b o o k s , o n th e shares
o f th e ca p ita l s to c k s o f th e D o m in io n a n d M erch an ts c o m p a n ie s h eld b y th e m
w ill in crea se th e su rplu s fo r th e y e a r t o $ 2 8 6 ,9 2 8 , a n d le a v e a b a la n ce a t
c r e d it o f p r o fit a n d loss a c c o u n t o f $52 3 ,8 4 2 .
In v ie w o f th e s h o w in g m a d e fo r th e p ast t w o y e a rs an d th e b r ig h t o u t lo o k
fo r th e p re se n t y e a r , th e d ir e cto r s h a v e d e cla re d a d iv id e n d o f 1 U. % on th e
c o m m o n s to c k o f th e c o m p a n y , p a y a b le o n J u ly 2 t o sh areh old ers o f r e c o r d
o n Ju n e 1 5 .— V . 8 4 , p . 1250.

Eden (Wyo.) Irrigation & Land Co.— Bonds O ffered.— •
Farson, Son & C o., New Y ork and Chicago, are offering at
par and interest $400,000 first mortgage 6% bonds dated
Jan. 1 1907, which are issued to provide for the developm ent
of this com pany’s property in the Eden Valley, W y o. A
circular says in part:
T o t a l a u th o rize d issue $70 0,00 0 (o f w h ic h $ 3 0 0,00 0 rem ain in th e tr e a s u r y
fo r fu tu re u se s), m a tu rin g In ann ual In stallm en ts o n Ja n . 1 as fo llo w s :
1912 t o 1916, b o t h in c lu s iv e , $50 ,0 0 0 y e a r ly ; 1917 t o 1922 in c lu s iv e , $ 7 5 ,0 0 0
y e a r ly , b u t s u b je c t t o call at 102 )4 an d in terest a t a n y in te re s t d a te u p t o
Ja n . 1 1917; th e re a fte r a t p a r a n d in te re st.
D e n o m in a tio n s . $500 an d
$ 1 ,0 0 0 .
In te re st p a y a b le J a n . 1 an d J u ly 1 at o ffic e o f F a rso n , S on & C o ..
N . 'V . C ity . C h ica g o T itle & T ru st C o ., C h ica g o , tr u s te e .
O f th e p r o c e e d s
o f all lan ds and w a te r rig h ts so ld b y th e c o m p a n y , 75 % are t o b e h eld In a
sin k in g fu n d fo r th e r e d e m p tio n o f th e b o n d s .
T h is c o m p a n y has o b ta in e d title fro m th e S ta te o f W y o m in g t o th e
w a te rs o f th e B ig S a n d y R iv e r , th e L ittle S a n d y R iv e r , th e N ew F o r k R iv e r
an d so m e o th e r sm aller stre a m s, In all su fficie n t to irrig a te 2 0 6 ,0 0 0 a cres
o f la n d . T h e c o m p a n y has also secu red fro m th e N a tio n a l G o v e r n m e n t,
u n d e r p ro v is io n s o f th e C a rey A c t , a se gre ga tio n o f 6 0 ,0 0 0 acres o f c h o ic e
la n d , an d th e se gre g a tio n o f 4 0 ,0 0 0 m o re Is p r a c t ic a lly c o m p le t e d .
The
c o m p a n y tow n s a n a tu ra l re se rv o ir site su fficie n t t o Irrigate a b o u t 20,0 0 0
acres, a n d it has also re ce iv e d fro m th e U n ite d S tates G o v e rn m e n t on e o f
th e fin est re se rv o ir sites In th e U n ite d S ta te s , k n o w n as th e L e c k y B a sin ,
In to w h ich there are fiv e large stream s o f w a te r c o n s ta n tly flo w in g , w h ich
w ill h o ld su fficie n t w a te r t o irrig ate a b o u t 60,0 0 0 acres o f la n d . T h e c o m ­
p a n y also o w n s th e c a n a l sy stem a lre a d y beg u n an d th e rig h ts o f w a y ,
su r v e y , & c ., fo r th e en tire s y s te m .
T h e c o m p a n y has th e p riv ile g e o f
sellin g th e w a te r a t n o t e x c e e d in g $30 p e r a cre , an d th e la n d Is sold t o th e
settler a t 50 ce n ts p er a cre . A s th is class o f la n d Is w o r th fro m $50 t o $100
an a cre , th ere Is n o d iffic u lt y in sellin g It as ra p id ly as p la c e d u n d er w a te r,
fu rn ish in g a co n s ta n t in c o m e t o th e c o m p a n y s tr e a s u r y .
E n gin eers esti­
m a te th a t th e first 6 0 ,0 0 0 acres ca n b e p la c e d u n d e r w a te r at $5 50 an a c r e ,
w h ile th e usual c o s t Is fro m $10 t o $2 5 . P r o d u c t s o f la n d : A lfa lfa , field
p e a s, sugar b e e ts , v e g e ta b le s , sm all fru its .
W ith in 100 m iles th ere are
e s tim a te d t o b e 2 ,0 0 0 ,0 0 0 sheep o n th e ran ges (a vera ge in cre a se 7 0 0 ,0 0 0
la m b s p e r a n n u m ) t o co n s u m e th e fo ra g e c r o p s ; and R o c k S prin gs— a c o a l­
m in in g t o w n o f fro m 7 ,0 0 0 t o 10,0 0 0 in h a b ita n ts — an d o th e r cities and
to w n s on th e line o f th e U n io n P a cific , w ill w a n t th e fru its and v e g e ta b le s .
T w o railro a d lines are a lre a d y su r v e y e d th ro u g h th e p r o p e r t y , an d o n e ,
an d p r o b a b ly b o t h , w ill be b u ilt in th e n ear fu tu r e , w h ile a t p resen t th e
v a lle y Is w ith in e a sy h a u lin g d ista n ce o f th e U n io n P a cific R a ilr o a d .
T h e c o m p a n y is In c o r p o r a te d u n d e r th e law s o f W y o m in g .
O u tsta n d in g
ca p ita l s t o c k (all o f o n e c la s s ), $ 2 ,0 0 0 ,0 0 0 in $100 sh ares. P r e s ., F . P .
K n o t t ; S e c . a n d T r e a s ., H . B . P a r r o t t .
O ffic e , D e n v e r , C ol.

Chapman Iron, Coal & Coke Co.— Sold.— This company’s
property was on Jan. 31 sold at auction to an attorney acting
for President E. R . Chapman of New Y ork , who, it is stated,
will reorganise the com pany. On Jan. 27 a judgment for
$142,488 was entered in the New Y ork courts against the
com pany in favor of Francis A . H uck on an assigned claim
of Mr. Chapman; receiver was appointed April 27 1906.
On Jan. 29 all the com pan y’s interest in $530,000 of it*
5 % gold bonds and in $ 100,000 of its capital stock (certifi­
cates “ A 47” and “ A 48” — par of shares $100), which wero
held b y the Oriental Bank as collateral, was sold at auction
at the Real Estate Exchange Sales Rooms in thi» city and
was bid in by Francis A. Huck for the plaintiff.
Columbia Telephone Manufacturing Co., Ottawa, O .—
Decision on West Va. Law .— The Supreme Court o f Ohio on
Dec. 11, reversing the judgm ent o f the Circuit Court of
Federal Railway Signal Co.— New Bond Issue.— This com ­
Putnam County, in the action brought by the Security Trust pany, which has purchased the plant o f the Albany Forge
Co. of T oledo, as trustee in bankruptcy of the Columbia Co. in North A lbany, and will shortly establish its business
Telephone Manufacturing C o., against Ford and others, there, has executed a mortgage to the Troy Trust Co. to
held that the stockholders of a com pany incorporated under secure, it is said, an issue of $500,000 first mortgage 6 % gold
the laws of W est Virginia are liable for its indebtedness up coupon bonds, denomination $ 1,000 and $500.
The m ort­
to the par value of the stock subscribed, notw ithstanding a gage of $300,000 executed April 5 1905 is reported to have
provision in its certificate of incorporation that the stock been satisfied of record, bu t no official statement on the sub­
shall be regarded as full-paid and non-assessable upon pay­ ject is obtainable.
T h e c o m p a n y ’s m a c h in e sh o p a t T r o y , N . Y . , w as d e s tr o y e d b y fire o n
ment of a less am ount than par. Smith A Beckwith of
J a n . 31. T h e w ork s at N o rth A lb a n y are t o b e e n la rg e d , In creasin g th e
T oledo, O ., were leading counsel for the plaintiff.
c o m p a n y ’s o u t p u t f a c ility , it is sa id , t o d o u b le t h a t o ' its o ld p la n t .
The
T h e T e le p h o n e M fg . C o . w as in c o rp o ra te d in W . V a . o n M arch S 1902 and
o n N o v . 10 1902 w as a d ju d g e d a b a n k r u p t b y th e D is tr ic t C o u rt o f th e U n ite d
S ta tes fo r th e N o rth e r n D is tr ic t o f O h io , W e s te rn D iv is io n .
Its stock c o n ­
sisted o f $1 5 0 ,0 0 0 c o m m o n a n d $10 0 ,0 0 0 6 % n o n -c u m u la t lv e p r e f .. in
shares o f $100 ea c h . T h e c e r tific a te o f in c o r p o r a tio n p r o v id e d th a t th e
c o m m o n s to c k sh ou ld b e so ld a t 5 0 % o f its p a r v a lu e in p a y m e n ts o f 1 0 %
e a c h , as c a lle d b y d ir e cto r s , th e s to c k a ft e r su ch p a y m e n ts t o b e fu ll p a id
a n d n on -a ssessa b le. A ll th e su b scrib e rs e x c e p t F o r d p a id 5 0 % , h e s u b ­
s c r ib in g fo r 50 shares ($ 5 ,0 0 0 ) a n d p a y in g 3 0 % ($ 1 ,5 0 0 ).
S e c tio n 11 o f
A r tic le 1 o f th e C o n stitu tio n o f W e st V irg in ia p ro v id e s th a t s to c k h o ld e r s o f
all c o r p o r a tio n s a n d jo in t - s t o c k c o m p a n ie s e x c e p t b a n k s a n d b a n k in g In sti­
tu tio n s shall b e lia b le fo r th e in d e b te d n e s s o f s u ch c o r p o r a tio n s " t o th e
a m o u n t o f th e ir s to c k s u b s crib e d a n d u n p a id a n d n o m o r e .”
T h e in d e b t e d ­
ness o f th e c o m p a n y , it Is s t a t e d , a m o u n ts t o a b o u t $ 3 8 ,0 0 0 , w h ile t h e as*et«
w ill n o t realize in ex ce s s o f $ 1 3 ,0 0 0 .

Columbus & Hocking Coal & Iron Co.— Report.— See
“ Annual R eports” on a preceding page.
Dividends.— The dividend declared payable July 1 on the
new preferred stock ($218,900) is, we learn, distribution
No. 2 , the first paym ent on this stock having been made
April 1 1907.— V. 84, p. 1370.
I Consolidated Rice Milling Co.— See Louisiana Irrigation
& Mill Co. below.
I Consumers’ Gas Co., Toronto.— Stocks Sold at A uction.—
[At T oronto, on June 6, 6,000 shares of new stock were sold




n ew d ir e cto r s a n d o ffic e r s are g iv e n as fo llo w s : D ir e c to rs : R o b e r t C. P r u y n ,
Ja m e s H . C a ld w ell, J . T . C a d e , L a w re n ce G riffith , P . G . T e n E y c k .
O ffi­
ce rs: J . T . C a d e, P r e s .; L a w r e n c e G riffith , V Ic e -P r e s .; P . G . T e n E y c k ,
G en . M g r .; F re d e rick P r u y n , T r e a s .; C. E . N e w m a n , S e c .— V . 8 0 , p . 1 7 ® .

Gainesboro Telephone Co., Sparta, Tenn.— Bond Issue.— A
mortgage has been filed to the Union Bank <k Trust Co. of
Nashville, as trustee, to secure an issue of $100,000 6 % gold
bonds. The mortgage covers 25 exchanges and 2,500 miles
of toll line in K entucky and Tennessee.
C o m p a n y in c o rp o ra te d in 189 6. A u th o riz e d ca p ita l s t o c k Is $300,0001
In shares o f $100 ea ch .
B o n d s d a te d Jan . 1 1907 a n d d u e In 1 92 7, b u t al
s u b je c t t o call a fte r 10 y e a rs a t p a r a n d in te re st.
D e n o m in a tio n | 500.
In te re st p a y a b le q u a rte r ly (Jan . 1, & c.) a t S p a rta . T o t a l gross assets
sta te d as $ 2 8 0,00 0 a n d a n n u al g ross In co m e as $ 6 5 ,0 0 0 .
P r e e ld e n t, G . W .
S te v e n s , N a s h v ille , K y .; S e c r e ta r y , J . T . A n d e rs o n ; a n d T re a »u r e r , 6 .
H a y d e n Y o u n g , S p a rta , T e n n .

Herron Pump & Foundry Co., Chattanooga, Tenn.— R e ­
ceivership.— A t Chattanooga on June 7 this com pany was
placed
in the hands o f
C. C. N ottingham , VicePresident of the First National Bank o f Chattanooga, as
receiver. An official statement, it is said, shows: Liabili­
ties about $ 1 0 0 , 0 0 0 ; assets between $ 2 0 0 , 0 0 0 and $ 2 2 5 , 0 0 0 .
All creditors, it is stated, will be paid in full. See V. 84,
p. 1251.

J u n e 1> 1 9 0 7 . j

THE CHRONICLE.

1431

Home Telephone Co. of Nashville.— Decision— Re-Incor­
poration.— The Supreme Court on March 23, reversing the
decision of the Court of Chancery Appeals, dissolved the
injunction enjoining the city from removing the poles and
wires of the com pan y,w h ich were, it is reported, erected at
a cost of a b ou t $2 0 ,000.

Letcher Coke & Railway Co., Cleveland, O.— New Enter­
prise— Bonds Offered.— This com pany, incorporated a few
months ago with $2 ,000,000 capital stock, in shares of $100
each, to mine coal and engage in the manufacture o f coke in
Eastern K entucky,recen tly offered in Cleveland $2,000,000
5 % 30-year gold bonds. The follow ing has been published:

J u d ge W ilk e s h old s th a t th e c o m p a n y , w h ich w as In c o r p o r a te d u n d e r th e
o ld gen era l la w , h a d n o rig h t t o o p e r a te a te le p h o n e sy ste m u n d e r its
c h a r te r as a te le g ra p h c o m p a n y , a n d th e re fo re co u ld n o t use th e streets
o f t h e c it y w it h o u t th e la t te r ’s co n s e n t.

T h e c o m p a n y has s e cu re d c o a l rig h ts o n 1 6 ,000 acres o f coa l la n d s In
L e tch e r C o u n ty , K y ., an d lt w ill b u ild 500 c o k e o v e n s and a b ra n ch rail­
ro a d 15 m iles lo n g t o c o n n e c t th e p r o p e r t y w ith th e n earest d is trib u tin g
p o in t . T h e co a l rig h ts c o v e r d e p o s its w h ich w ill a g g re g a te o v e r 2 2 6 ,9 5 4 ,0 0 0
to n s . W ith a p r o d u c tio n o f 125 ,0 0 0 to n s y e a r ly an d a n e t p r o fit o f 30 cen ts
p er t o n , th e c o m p a n y sh ou ld earn on co a l $ 3 7 ,5 0 0 ; 4 6 8 ,0 0 0 to n s o f c o k e a t
$1 25 a to n w o u ld y ie ld $ 5 8 5 ,0 0 0 , a n d ren ts, & c ., a t $ 1 5 ,0 0 0 fro m th e c o m ­
p a n y ’ s houses and store w o u ld Increase th e to t a l t o $ 6 3 7 ,5 0 0 .
D e p recia tion
and b o n d Interest d e d u cte d Is e x p e c t e d t o le a v e a su rplu s o f 22 % o n th e
$2 ,0 0 0 ,0 0 0 c a p ita l s t o c k . J . J . P h illip s , V ic e -P r e s id e n t an d G eneral M an ­
ager o f th e C le v e la n d & P itts b u r g h C oal C o ., has be e n e le c t e d P resid en t
o f th e c o k e c o m p a n y an d J a m e s D u n n J r . S e cre ta ry a n d T reasu rer.
O ffice in G arfield B u ild in g , C le v e la n d .

On April 3 th e com pany filed articles of incorporation
under the so-called Talbert law ,coverin g the incorporation
of telephone com panies, passed b y the present Tennessee
Legislature, its capital stock being $1,000,000. Chancellor
Allison on the same d a y denied the application of several
tax-payers to enjoin the perfecting of the organization.
Officers:
P re s id e n t, R . E . C o o p e r; V ic e -P r e s id e n t, W . C. P o lk ; T re a su re r, H . M .
P e r r y ; S e c r e t a r y , C h arles C u rry.

Illinois Tunnel Co., Chicago.— New Management.— J.
Ogden Armour and associates, having becom e largely inter­
ested in this enterprise, the following new officeis and
directors were elected at the annual meeting on June 13:
S am u el M c R o b e r t s , T re a s u re r o f A r m o u r & C o ., w a s m a d e P re sid e n t t o
s u c c e e d A lb e r t G . W h e e le r ; W . J . C. K e n y o n , P re sid e n t an d G eneral M an ­
ager o f th e U n io n S t o c k Y a r d s a t O m a h a , w as e le cte d G eneral M anager.
M r. A r m o u r w a s m a d e a m e m b e r o f th e e x e c u t iv e c o m m it t e e , o f w h ich A . J.
E a rlin g , P r e s id e n t o f t h e C h ic a g o M ilw au k ee & S t. P a u l R y ., is C h airm an .
S am u el M c R o b e r t s w as e le c t e d a d ir e c t o r t o su cce e d P . A . V a le n tin e and
J . O g d en A r m o u r b e c a m e a m e m b e r o f th e b o a r d .

The K u h n -L oeb loan of $5,000,000 is said to have been
extended fo r a considerable period and Messrs. Armour and
Harriman are reported to have obtained for the com pany
a long-term loan of $4,000,000, for the com pletion of con­
struction. Mr. Valentine is said to have sold out his interest
in the Chicago Subway Co., the parent com pany.— V. 84,
p. 162.
Indiana Natural Gas & Oil Co.— Called Bonds.— All of the
outstanding 1st m ortgage 6 % gold bonds dated 1890 have
been called for redemption at 105 and interest on July 1 at
the office of the Central Trust Co., jSTew Y ork, or at the Illi­
nois Trust & Savings Bank, Chicago. In 1906 the com pany
made an issue of $6,000,000 5 % 30-year gold bonds to pro­
vide for refunding the aforesaid bonds and for extensions
and additions. The new bonds are guaranteed, principal
and interest, b y the People’s Gas Light & Coke Co. of Chi­
cago. Most of the 1st 6s ($4,000,000 issued) have
been exchanged fo r the new 5s. Compare V. 84, p. 393—
V. 83, p. 1293.
International Steam Pump Co.— New Officers.— The fol­
lowing changes are announced:
W illia m I i . W o o d ln , L e o n P . F u e stm a n an d N . F leisch er h a v e been
e le c te d d ir e cto r s in p la c e o f d ir e cto r s w h o se term s h a ve e x p ir e d .
L eon P . F u estm a n e le cte d F irst V ic e -P r e s id e n t; N a th a n F leisch er ele cte d
T rea su rer, t o s u cce e d M a x N a th a n , w h o resign ed o n a c c o u n t o f age; B e n ja m a n G u ggen h eim e le cte d
C h airm an o f th e e x e c u t iv e c o m m it t e e ,—
V . 83, p . 141 0, 754 .

Interstate Steamship Company.— Called Bonds.— The
Safe Deposit & T rust Co. of Pittsburgh, as trustee for
the bondholders, gives notice that 50 5 % bonds for $1,000
each (interest payable June 1 and Dec. 1), dated June 1
1906, the numbers ranging between 4 and 494, were called
for redemption on June 1 with interest to date. Incorporated
under the laws of W est Virginia.
T h e In tersta te S tea m sh ip C o . o f W ilo u g h b y , O ., p r o b a b ly th is c o m p a n y ,
w as in c o rp o ra te d in Ju n e 1905 w ith $500 .000 c a p it a l s t o c k , th e In co rp o ra to rs
b e in g J a m es E . H o y t , J u lia n W . T y le r , G u s ta v v o n Stein er, all o f C le ve la n d .

Jenner-Quemahoning Coal Co., Pittsburgh.— Bonds.—
This com pany, w hich was incorporated in Pennsylvania in
Sept. 1904 with $5,000 authorized capital stock (since in­
creased to $750,000, all of one class and all outstanding,
par $100), and thereafter purchased som e 3,000 acres of
coal land in Somerset County, P a., has filed a certificate of
increase of indebtedness from $410,000 to $750,000.
T h e a foresa id in d e b te d n e s s c o n s ists o f first m o r tg a g e 5 % g o ld b o n d s o f
an a u th oriz ed issue o f $ 1 ,0 0 0 ,0 0 0 , secu red b y m o rtg a g e t o th e F id e lity
T ru st C o . o f P h ila d e lp h ia , as tr u s te e , c o v e r in g c o a l, su rfa ce and e q u ip m e n t.
T h e issue is d a te d O c t . 1 1904 a n d is d u e $25 0 ,0 0 0 in 1919 an d $75 0 ,0 0 0 In
1944, b u t s u b je c t t o call fo r s in k in g fu n d a t p a r a n d in te re st.
D e n o m in a ­
tio n s $500 a n d $ 1 ,0 0 0 .
In te re st p a y a b le A p r il 1 a n d O ct. 1 at o ffic e o f
tru stee. P re s id e n t, H . R . L y n n ; S e c . an d T r e a s ., J . B . V a n W a g e n e r ;
A ssist. T r e a s ., T h u r sto n W r ig h t.
O rigin a l in c o r p o r a to r s : R o b e r t M . W il­
s o n , H e rb e rt H u n t, H e n r y K . B e lm o n t , A lb e r t H . P a rk e r an d H o lm a n R .
L y n n , all o f N ew Y o r k .

Jutte (0.) & Co.— Litigation— Reported S alt.— Judge
Shafer, at Pittsburgh, on Feb. 9, in the action brought by
the Colonial Trust Co. of Pittsburgh, as administrator of
the late W . C. Jutte, against F. N. Hoffstot and J. W .
Friend,-decided that the latter were entitled to possession
of certain securities of Jutte & Co. obtained by them in
transactions with the deceased. A bill in equity was filed
on Dec. 4 by Louis A . Jung and other stockholders in the
Common Pleas Court, Pittsburgh, asking for the appoint­
ment of a receiver on the alleged ground that Friend and
Hoffstot, who controlled the company, proposed to turn over
the river equipment and good-will from Louisville south (but
not the coal lands) to the Monongahela River Consolidated
Coal & Coke Co.
T h e c o m p a n y Is re p o r te d t o o w n a b o u t 2 ,4 0 0 a cre s o f u n d e v e lo p e d c o *
la n d s near B ro w n s v ille , F a y e tte C o ., P a ., Its ca p ita l s t o c k co n sistin g o i
$ 4 ,0 0 0 ,0 0 0 , p a rt p re fe rre d , an d Its o u ts ta n d in g b o n d e d d e b t b e in g J l , 6 0 0 ,0 0 0 .
T h e M o n o n g a h e la R iv e r C o n so l. C. & C. C o. has n o th in g t o d o
w4Jh th e b o n d s , a n d th e S e c r e ta r y o f th a t c o m p a n y o n F e b . 19 w ro t* :
“ T h is c o m p a n y has n o t p u rch a se d th e p r o p e r t y r e fe r r e d t o . M

Keystone Driller Co., Beaver Falls, Pa.— New Stock.—
This corporation has increased its capital stock from $500,000
to $1,000,000. Plans have been prepared for a new foundry
building, 100 by 300 feet, of brick and steel construction,
for the manufacture of brass, gray iron and steel castings.




Locomotive A Machine Co. of Montreal.— Sale of Structural
Steel Plant.— See Dominion Bridge Co. ab ove.— V. 82, p. 283.
Long-Bell Lumber Co. of Kansas City, Mo.— Refunding
Mortgage— Bonds Offered.— Claik L. Poole & Co., Chicago,
are offering b y advertisement on another page at par and
interest the unsold portion of $9,000,000 6% “ first and re­
funding mortgage” gold bonds, made for the purpose of
refunding into one loan all of the outstanding bonds of the
com pany and its subsidiaries, together with practically all
its floating indebtedness. These bonds are dated May 1
1907 and mature in semi-annual installments of $250,000 from
N ov .1 1907 to May 1 1908, both inclusive, $300,000 N ov. 1
1908 to May 1 1920; $325,000 N ov. 1 1920 to May 1 1922.
Denom ination $1,000 and $500. Principal and interest
payable at Central Trust Co. of Illinois, trustee, Chicago.
A circular says:
T h is b o n d issue is a d ir e c t o b lig a t io n o f th e L o n g -B e ll L u m b e r C o ., w h ose
to ta l assets a t a c o n s e r v a t iv e app ra isal a m o u n t t o $ 2 5 ,5 1 0 ,2 9 3 .
Secu red
b y a b o u t 275 ,000 acres o f v ir g in lo n g an d sh ort le a f y e llo w p in e tim b e r
la n d s, o w n e d in fe e s im p le , c o n ta in in g o v e r 3 ,3 0 0 ,0 0 0 ,0 0 0 fe e t o f m e r ch a n t­
ab le p in e tim b e r , lo c a te d in C a lcasieu , R a p id e s an d S a b in e parishes, L a .,
an d San A u g u s tin e , A n g e lin a an d S a b in e C o u n tie s, T e x a s . A ls o a b o u t
100,000 acres o f p a r tly c u t o v e r lan d s c o n ta in in g a b o u t 3 5 0 ,0 0 0 ,0 0 0 feet o f
pin e and h a rd w o o d tim b e r; seven large m o d e m saw m ill pla n ts w ith a
d a lly c a p a c it y o f 1 ,0 0 0 ,0 0 0 fe e t o f lu m b e r .
O ur app ra isal o f th e p resen t
cash m a rk e t va lu e o f th e p r o p e r t y se cu rin g th is b o n d issue Is $ 1 9 ,2 6 1 ,1 6 7 .
T h is app ra isal d o e s n o t in clu d e t h e va lu e o f th e sta n d in g tim b e r o n th e p a r t ly
c u t o v e r an d h a rd w o o d lan ds c o v e r e d b y th is m o r tg a g e , n o r th e v a lu e o f
th e lan d s fo r agricu ltu ra l p u rp oses w h e n th e tim b e r Is r e m o v e d . T h e m o r t ­
gage requ ires, u n d e r carefu l re strictio n s, a d e p o s it w ith th e C en tral T ru st
C o. o f Illin o is, tru ste e , o f $3 50 p er 1,000 fe e t fo r all tim b e r m a n u fa c tu r e d
in t o lu m b e r. T h is w ill result in th e p a y m e n t o f all o f th e o u ts ta n d in g
b o n d s lo n g b e fo r e th e t im b e r c o v e r e d b y th e m o r tg a g e has been ex h a u s te d .
T h e n e t e a rn in g s (profits) fo r th e y e a r e n d in g Ja n . 1 1907, a fte r c r e d itin g
stu m p a g e a c c o u n t $4 p e r 1,000 fe e t, w ere $ 2 ,3 3 0 ,4 8 8 — o v e r t w o and o n e -h a lf
tim e s th e largest ann u al payn aent o f p r in cip a l and in te re st.
T h e a vera ge
n e t e a rn in gs (profits) fo r th e p ast th re e yea rs w ere $ 1 ,6 2 9 ,6 7 9 , o v e r th ree
tim e s th e in te re s t ch a rg e o n th is b o n d issu e. T h e c o m p a n y has a c a p ita l
an d surplus o f $ 1 5 ,6 3 2 ,2 0 3 , has b e e n esta b lish e d 30 y e a r s , an d possesses
th e h ig h est c r e d it.
A p p ro x im a te B a lan ce S heet A fte r I ssu a n ce o f N ew B on ds.
A ssets—
$
| L ia b ilities—
$
C ash, a c c t s .& n o t e s r e c e i v . 2 ,1 2 6 ,1 6 0 1C apital s t o c k _____________ 5 ,3 8 1 ,7 3 5
L u m b e r ..................................... 1 ,5 7 9 ,5 8 2 I S u r p lu s ________ _________, .1 0 ,2 5 0 ,5 5 8
M dse. In sto re s— c o s t ____
1 5 5 ,3 4 4 1B o n d s , th is issu e__________ 9 ,0 0 0 ,0 0 0
S t a n d in g tim b e r , 3 ,6 5 0 ,j N o te s p a y a b le ____________
878 ,000
0 00 ,000 @ $ 4 50 p er M ..1 6 ,4 2 5 ,0 0 0
S a w -m ill p la n ts , c o s t $3,3 7 9 ,9 4 3 ; less d e p re cia ­
t io n , $ 6 1 8 ,7 7 5 .................. 2 ,7 6 1 ,1 6 8
S to c k o f lu m b e r c o s ., & c _ . 2 ,4 6 3 ,0 3 9
T o t a l .................................... 25,510,2931
T o t a l ...................................... 25,510,293
S u ffic ie n t o f th e b o n d s w ill b e h eld b y th e tru ste e , an d th e p r o c e e d s w ill
b e a p p lie d b y it t o th e liq u id a tio n o f all o b lig a tio n s w h ich a ffe c t th e se c u r ity
fo r th is b o n d issu e.
T h is w ill result In th e p a y m e n t o f th e en tire in d e b t e d ­
ness o f th e c o m p a n y , b o t h d ir e c t an d g u a ra n te e d , e x c e p t $87 8 ,0 0 0 , w h ich is
a m p ly se cu re d b y a sep arate t r a c t o f tim b e r n o t c o v e r e d b y th is m o r tg a g e ,
an d w h ic h d o e s n o t fu lly m a tu re u n til 1 91 8, a n d draw s o n ly 5 % in terest.
Abstract o f L etter fro m P resid en t R . A . L o n g , dated K a n s a s C ity , M o .,
M a y 5 1907.
T h e c o m p a n y c o m m e n ce d bu sin ess in th e sp rin g o f 187 5, its possession s
b e in g o n e sm all re ta il lu m b e r y a r d lo c a te d a t C o lu m b u s, K a n ., w ith an in ­
v e s t m e n t o f n o t t o e x c e e d $ 5 ,0 0 0 , a n d u n d er th e m a n a g em en t o f th e
w r it e r . T h e e x p a n s io n o f th e business u p t o Its presen t c o n d it io n , aside
fr o m b o r r o w e d c a p ita l, has b e e n p r a c tic a lly e n tire ly o u t o f th e earn in gs.
W e h a v e a t p resen t 87 retail lu m b e r y a r d s , lo c a te d In K a n sa s, O k la h om a
a n d I n d ia n T e rrito rie s an d T e x a s ; a b o u t 4 16 ,000 acres o f la n d , o v e r 300 000
o f w h ic h is v irg in tim b e r , c o n ta in in g a b o u t 3 ,6 5 0 ,0 0 0 ,0 0 0 fe e t o f tim b e r ;
8 m o d e r n saw m ills, c a p a c it y 1 ,0 0 0 ,0 0 0 fe e t p er d a y ; 9 m o d e r n p la n in g m ills;
47 m o d e rn d r y k iln s; 13 stores, an d 1,000 d w e llin g h ouses in c o n n e c tio n
w ith o u r m ills: 185 m iles o f ra ilro a d , In clu d in g 20 lo co m o t iv e s and 280 lo g ­
g in g ca rs.
W e m a n u fa c tu r e a b o u t 2 7 0 ,0 0 0 ,0 0 0 fe e t o f lu m b e r , lo g scale,
p er a n n u m .
Ship 2 0 ,0 0 0 cars o f lu m b e r p e r a n n u m .
T h e largest a n n u al p a y m e n t o n o u r b o n d issue, to g e th e r w ith in te re st,
is $ 1 ,0 8 2 ,0 0 0 .
O ur n e t p ro fits fo r th e y e a r 1906 w e re $ 2 ,3 3 0 ,4 8 8 , a fte r
c r e d itin g th e tim b e r a c c o u n t w 'ith its p resen t v a lu e .
T o d eterm in e th e
v a lu e In th is in s ta n c e , at $4 50 p e r th o u s a n d , m u ltip ly in g b y ou r p resen t
p r o d u c in g c a p a c it y o f 2 7 0 ,0 0 0 ,0 0 0 , W'e w 'ould h a v e $ 1 ,2 1 5 ,0 0 0 t o a d d t o
th e p ro fits a b o v e m en tron ed t o b e disbu rsed th ro u g h th e ch an n els o f ca sh .
S h ou ld w e c o n c lu d e t o w in d u p o u r affairs an d g o o u t o f busin ess w h en
o u r stu m p a g e shall h a v e been e x h a u s te d , w e w o u ld e x p e c t t o realize n o t
o n ly th e to t a l assets listed (in b a la n ce sheet) a b o v e , b u t at least $6 p er
th o u s a n d a d d itio n a l, in th e co n v e r s io n o f s ta n d in g tim b e r in t o lu m b e r ,
e qu a l t o $ 2 1 ,9 0 0 ,0 0 0 , m a k in g th e to ta l assets $ 4 7 ,4 1 0 ,2 9 3 .
D e d u c tin g fo r
r e tir e m e n t o f b o n d s $ 9 ,0 0 0 ,0 0 0 , and in terest th ereon $ 4 ,2 6 6 ,0 0 0 ; also n o te s
p a y a b le $87 8 ,0 0 0 , and in terest th ereon (last m a t u r it y 1918) $ 30 0,00 0,
a to t a l o f $ 1 4 ,4 4 4 ,0 0 0 , w o u ld le a v e e x cess resou rces o f $ 3 2 ,9 6 6 ,2 9 3 . W e
h a v e figu red e v e n tu a lly t o o b ta in $10 50 p er th o u sa n d o u t o f o u r s ta n d in g
t im b e r ; w e o b ta in e d $11 19 p er th o u s a n d fo r th a t m a n u fa c tu r e d d u rin g
1906.
T h e w h ite p in e o f th e N o rth w ill h a ve been a lm o st e n tirely ex h a u sted
w ith in th e n e x t six y e a rs, an d th e p in e o f th e S ou th w ill p r a c tic a lly be g on e
w ith in th e n e x t 18 y e a rs. O u r lu m b e r a t o u r ya rd s an d a t o u r m ills is
all in v e n to r ie d to g e th e r , lu m b e r a t y a r d s figu red a t c o s t; a t m ills a t $12
p e r th o u s a n d , th e sam e b e in g a b o u t $5 p er th o u s a n d less th a n th e a vera ge
n e t p r ice t o us.
[T h e a m o u n ts o f t h e c o m p a n y ’s c a p ita l s to c k a n d su rplu s, it w ill b e n o t e d ,
are g iv e n in th e fo r e g o in g b a la n ce sheet a n d w ill serve t o c o r r e c t a m is­
s t a te m e n t as t o th e surplus a n d a s lig h t in a c c u r a c y as t o th e a m o u n t o f
o u t s t a n d in g s t o c k w h ic h ap p e a re d in o u r Issue o f M ay 4 in c o n n e c t io n w ith
th e re ce n t in cre a se o f th e c o m p a n y 's sh are c a p it a l.— E d .]— 3

Subscriptions are being received simultaneously at:
T ru s t C o . o f A m e r ic a , N ew Y o r k C ity .
C ity T r u s t C o ., B o s to n .
I r o n C ity T ru s t C o ., P itts b u r g h .
M is s o u r l-L ln c o ln T ru s t C o ., St. L o u is .
D e tr o it T ru s t C o ., D e tr o it.
— V . 84, p . 1055.

I M ich igan T ru s t C o . , G rand R a p id s .
N o rth w e ste rn T r u s t C o ., S t. P a u l.
(M in n e so ta L o a n & T ru s t C o ., M in n .
I C o m m e rce T ru s t C o ., K an sas C ity .

Louisiana Irrigation & Mill Co.— Sale of Rice M ill Proper­
ties.— A press dispatch from Lake Charles, La., on June 5
says:

1432

THE CHRONICLE.

A tra n sfer w as r e c o r d e d here y e s te r d a y fro m th e L o u isia n a Irrig a tio n &
M ill C o. t o th e C o n s o lid a te d R ic e M illin g C o. o f all Its r ic e -m ill p r o p e r tie s
in C r o w le y , M orse, J e n n in g s, R o a n o k e an d o th e r p o in ts in C alcasieu an d
A c a d ia pa rish es.
T h e c o n s id e r a tio n n a m e d w as $ 4 0 0 ,0 0 0 . T h is a c tio n
w as ta k e n p u rsu a n t t o a plan b y w h ich tn e b ig r ice c o m p a n y p r o p o s e d t o p u t
Its p la n tin g a n d Its m illin g o p e r a tio n s in th e h an d s o f t w o se p a ra te c o m ­
p a n ie s .— V . 8 0 , p . 715 .

Massillon (0 .) Iron & Steel Co.— New Stock.— This com ­
pany, which was incorporated under the laws of Ohio in
March 1900, and which in Feb. 1904 increased its capital
stock from $150,000 to $500,000, on Feb. 18 1907 filed a
certificate of increase of the authorized issue from $500,000
to $2 ,000,000, all of one class. Of the additional stock
the present issue is $500,000, part as dividend to share­
holders and part for cash at par. No bonds. The company
manufactures cast-iron pipe and fittings. The officers are:
H . A . C r o x t o n , P re sid e n t a n d T reasu rer: F . F . F ish er, C h ic a g o , 111.,
V ic e -P r e s id e n t; J. R . D a n g ler J r ., S e c. a n d A sst. T re a s.
D ir e c to rs :
H .A .
C r o x t o n , J. W . M c C ly m o n d s , C. M . R u ssell a n d C. O . H eg gem o f M assillon.
O .: F . F . F ish er, C h ica g o , 111.: D . T . C r o x t o n a n d S . W . C r o x t o n , C leveand, O.
C h ic a g o o ffic e , T h e R o o k e r y .

Mather Humane Stock Transportation Co.— Notes Offered.
— Brown Bros. & C o., New Y ork, are offering at prices to
yield the investor 5 ]4 % the 5% gold notes, series “ Q ,” cou­
pon notes of $1,000 each, dated Feb. 5 1907, maturing Aug. 1
1907 to F eb. 1 1917, both inclusive, $30,000 semi-annually.
Interest payable Feb. 1 and Aug. 1; Mercantile Trust C o.,
New Y ork , trustee. A circular says:
T o t a l a u th o r iz e d a n d issu e d , $ 6 0 0 ,0 0 0 .
P r in c ip a l a n d c o u p o n s p a y a b le
a t th e o ffic e s o f B ro w n B ro th e rs & C o ., N e w Y o r k , P h ila d e lp h ia a n d B o s t o n .
T h ese n otes are secu re d b y a lien o n 1,000 M ath er p a te n t s t o c k cars o f 6 0 ,000
p o u n d s c a p a c it y , c o s t in g $ 8 0 0 ,0 0 0 , a g a in st w h ich th e n o te s are Issued at
75 % o f th eir c o s t .
T h e t itle t o th e en tire e q u ip m e n t is v e s te d in th e tru stee
u n til p a y m e n t has be e n m a d e In fu ll fo r th e en tire issu e o f th ese n o te s .
T h e se cars are n o w u n d e r lease fo r a fix e d m o n t h ly re n ta l (fo r s ix years fro m
th e a v e r a g e d a te o f th e d e liv e ry o f th e c a r s , a b o u t J u ly 1 1907 a n d th e r e a fte r
u n til te r m in a te d u p o n s ix t y d a y s ’ n o t ic e b y e ith e r p a rty ) t o th e C h ica g o
R o c k Isla n d & P a cific R y . C o .
T h e le s so r’s rig h ts u n d e r th e c o n t r a c t
b e in g h eld b y t h e M erca n tile T r u s t C o . o f N e w Y o r k , as a d d itio n a l s e c u r ity
fo r th ese n o te s .
T h e M a th e r p a te n t s to c k cars are s p e c ia lly c o n s tr u c te d
f o r th e tr a n s p o r ta tio n o f liv e s t o c k a n d h a v e be e n in su cce ssfu l o p e r a tio n o n
th e la rg er r a ilr o a d s y s te m s f o r a n u m b e r o f y e a r s .

[V o l .

l x x x iv

.

been begun at the rate of 1 % quarterly. There is also an
issue of $2,000,000 bonds. The com pany has woolen mills
at D over, Paris and Thorold, O nt., and St. H yacinthe, Que.
D. Morrice is President.— V. 83, p. 767.
People’s Gas Light & Coke Co. of Chicago.— Financing by
Subsidiary.— See Indiana Natural Gas & Oil Co. above.
— V. 84, p . 576, 394.
Red Bank Oil Co. of Pittsburgh, Pa.— New Stock.— This
com pany recently filed a certificate increasing its capital
stock from $1,000,000 to $3,000,000. A press report says:
T h e c o m p a n y w as In c o r p o r a te d at D o v e r , D e l., M a y 26 1906, w ith a
c a p ita l s to c k o f $ 5 0 ,0 0 0 , a m e n d e d S e p t. 29 1906 b y Increasin g Its c a p it a l
s to c k t o $ 1 ,0 0 0 ,0 0 0 .
In c o r p o r a to rs in c lu d e E . A . K e rn , A . N eu rem b u rg ,
J . K . N e a g le y , all o f P itts b u r g h , P a .

Roanoke (Va.) Heat, Light & Power Co.— Bond Issue.—
This com pany, it is said, has filed a m ortgage with the Girard
Trust Co. of Philadelphia to secure $500,000 o f 5 % 30-year
bonds.
Rockingham Power Co.— New Enterprise— Mortgage.—
This com pany was incorporated in North Carolina on
Feb. 20 1905 and is engaged in the developm ent of over
28,000 hydro-electric horse-power at Bluitt Falls, N. C., on
Yadkin River, 9 miles from Rockingham and 130 miles from
W ilm ington. The work includes the construction of a dam
1,650 feet long and 45 feet high. The authorized'capital
stock is $3,000,000, in $100 shares, $1,500,000 being com m on
and the remainder 5 % preferred, cumulative after 1911;
subscribed, $1,500,000 com m on and $1,100,000 preferred.
In February last a mortgage was filed to the Knickerbocker
Trust Co. of New Y ork, as trustee, to secure an issue of
$5,000,000 first mortgage 40-year 5 % gold bonds, due July 1
1946 but subject to call as an entirety at 105 and interest on
any semi-annual interest day after Jan. 1 1916, and further
subject to a sinking fund to be applied as set forth in the
mortgage. Of these bonds, $2,200,000 are outstanding.
Messrs. Hugh M cRae & Co. of W ilm ington, the Colonial Se­
curities Co. of Boston and Electric Bond & Share Co. of
New Y ork are interested. M. F. H. Gouverneur of W il­
mington is President. The executive committee in charge
of construction is com posed of R . L. Warner, Chairman;
J. D. Mortimer and Henry A. Pressey, 62 Cedar St., New
Y ork.
A press dispatch from Bennettsville, S. C., in February last
said:

McCall’s Ferry Power Co.— See Susquehanna Power Co.,
below .— V. 84, p. 629, 274.
Merchants’ Refrigerating Co. of Kansas City.— New Stock.
— This com pany on June 6 filed at Jefferson City, M o., a
certificate showing: Increase of capital stock from $300,000
to $600,000; assets, $850,000; liabilities, $200,000. Com­
pare V. 82, p. 573, 1500.— Y . 83, p. 275.
Mexican Petroleum Co., Limited, of Delaware.— First Div­
idend.— On June 3 a dividend of one-half of 1 % a month
W ith in a little m ore th a n a y e a r th e c o t to n m ills at M cC oll a n d B e n n e tts ­
(6 % yearly) was declared on the preferred stock, being equal v ille w ill b e o p e r a te d b y e le ctr ic p o w e r fro m th e d a m across P e e D ee R iv e r
at B lu itt F a lls. T h e p o w e r w ill be tra n s m itte d fro m th e p la n t t o R o c k in g ­
to 12% on the stock of the old Mexican Petroleum Co. of h a m , t h c n c e b y H a m le t t o L aurel H ill, th e n c e t o M cC oll, B e n n ettsv ille,
L u m b e r, F lo y d s an d H a rtsv ille , w ith a b ra n ch lin e fro m Laurel H ill t o
California. Compare V. 84, p. 629.
L a u rln b u rg .
T h e d a m is t o b e 1,650 fe e t lo n g an d 50 fe e t h igh , fro m w h ich
Milliken Brothers, Staten Island, N. Y .— Receivership.— It Is c a lcu la te d b y th e engin eers th a t 28,0 0 0 h o rs e -p o w e r w ill be a v a ila b le.
T h e presen t In stallation o f w a te r-w h e e ls an d ele ctrica l m a ch in e ry w ill d e ­
On M onday a petition in involuntary bankruptcy was filed liv e r 15,000 h o rse -p o w e r. T h e c o m p a n y has a lre a d y c o n t r a c te d fo r 10,000
in New Y ork City against this com pany b y the Niles-Bement- h o rs e -p o w e r. T h e c o t to n m ills at M cC oll an d B e n n e ttsv ille w ill use 1.600
orse p o w e r. T h e c o n t r a c t p r o v id e s t h a t It shall b e r e a d y fo r use b y J u ly 1
Pond Co. and other creditors, and on Tuesday Judge H olt, h1908.
in the United States District Court, before whom the pro­
Salisbury Steel & Iron Co., Utica, N. Y .— Bonds Offered.—
ceedings were begun, appointed as receivers August Hecksher,
Miller, Adams & Co., New Y ork, are offering at par and
a prominent iron man; W illiam L. W ard, of the Russell,
interest, with a bonus of 50% in stock, $100,000 1st m ort­
Burdsall & W ard Nut & Bolt Co., and J. Van Vechten
gage 6 % 10-year sinking fund gold bonds, due in 1917 but
O lcott, of the law firm of D ougherty, O lcott & Tenney.
redeemable at 105 and interest on and after Jan. 1 1912.
The liabilities as catalogued b y the counsel for the receivers
Interest payable Jan. and July 1. The Citizens’ Trust Co.
em brace, in addition to $3,000,000 bonds, $1,100,000 in
of Utica, N. Y ., trustee. Authorized issue $250,000. This
merchandise debts, divided among some 300 creditors and
corporation was in coipo-ated N ov. 12 1902 under the laws
$2,400,000 in loans, which include $1,050,000 advanced by
of New Y ork. The authorized capital stock is $1,000,000,
Foster Milliken and H. S. Manning. The com pany’s em ­
in shares of $100 each, of which $900,000 has been issued.
barrassment is attributed to the unexpectedly large cost of
A circular says in sjbstan ce:
the new steel plant, which absorbed, besides the proceeds of
T h e c o m p a n y ow n s In fee sim p le m a g n e tic iro n o re p ro p e rtie s in H erk im er
the bonds, over $1,000,000 working capital. The bankers who C o u n t y , N . Y . . c o n s istin g o f 856 a cre s , w ith s ta n d in g tim b e r fo r all m in in g
q u ir e m e n ts , an d m a g n e tic Iron o re e s tim a te d s u ffic ie n t t o p r o d u c e 1,000
arranged the underwriting of the bonds express the utmost re
to n s p er d ie m , 300 d a y s in th e y e a r , fo r m a n y y e a rs. T h e p r o p e r tie s h a v e
confidence that the interest due on the issue Aug. 1 will be b een e x te n s iv e ly d e v e lo p e d b y w o rk in g s h a fts, an d th ere Is n o w r e a d y fo r
a tm e n t an d sh ip m e n t a large to n n a g e .
T w o sh ifts o f m e n , d a y and
prom ptly m et. They have sent a letter to the bon d­ tre
n ig h t, fo r th e p ast t w o y ea rs h a v e be e n d e v e lo p in g th e p r o p e r t y . T h e ore
holders under date of June 11, saying:
a n a ly ze s 5 6 % to 6 4 % m e ta llic iro n , re a s o n a b ly lo w In su lp h u r a n d p h o s ­
T h e c o s t o f th e n e w p la n t Is s t a t e d a t a p p r o x im a t e ly $ 4 ,8 5 0 ,0 0 0 . A c ­
c o r d in g t o app ra isa ls m a d e b y e x p e rts in 1906, th e v a lu e o f th e p r e v io u s ly
e x is tin g p la n t an d real esta te w as e s tim a te d t o be $ 2 ,0 8 4 ,1 5 4 .
O f th is th e
real esta te c o m p r is e d $ 1 ,1 7 8 ,6 3 4 , w h ic h , o n th e b asis o f w h a t th e real esta te
In this v ic in it y has a c t u a lly been sold fo r , w o u ld t o -d a y represent a v e r y
m u c h larger a m o u n t.
It m a y , th e r e fo r e , in o u r o p in io n , be c o n s e r v a ­
t iv e ly e stim a te d t h a t th e fix e d assets c o v e r e d b y th e $ 3 ,0 0 0 ,0 0 0 first m o r t ­
gage 6 % b o n d s a m o u n t t o n e a r ly $ 8 ,0 0 0 ,0 0 0 .
W e b e lie v e t h a t th e assets
a re a m p le t o secu re th e b o n d h o ld e r s a n d h a v e e v e r y e x p e c t a t io n t h a t th e
b o n d h o ld e r s w ill n o t su ffer a n y loss o f p r in c ip a l o r In t e r e s t.— V . 83. p
1102; V . 82, p . 1215.

Ohio Fuel Supply Co., Columbus, O.— Report.— For year
ending April 30 1906, contrasting with calendar years 1905
and 1904:
Year—
Gross.
Net.
Dividends.
Surplus.
______ _____ $ 2,056,941
$ 9 6 8 ,3 1 1
$649,991
$ 3 1 8,32 0
1906-07
1905 (ca l. y e a r ) __________ 1,4 0 7 ,9 5 2
6 5 0 ,8 0 7
(1 0 % ) 424 ,9 4 9
225 ,858
1904 (ca l. y e a r ) _________ 1 ,2 4 7 ,8 1 4
5 5 4 ,9 7 0
(1 0 % ) 399 ,397
155 ,573
O f th e gross r eceip ts fo r th e la te y e a r , $ 1 ,989,431 w as d e r iv e d fro m th e
sale o f n a tu ra l gas an d $26 ,538 fro m sale o f o il; r e m a in d e r v a r io u s .
The
o p e r a t in g ex p en ses In clu d e $172,245 fo r “ gas p u r c h a s e d .”
A n 18-Inch
p ip e lin e t o N o r w o o d , n e a r C in c in n a ti, w as c o m p le t e d d u r in g th e y e a r .—
V . 84, p . 1 3 7 2 ,1 1 8 5 .

Ohio & Indiana Consolidated Natural Gas & Illuminating
Co.— Foreclosure Decree.— The United States Circuit Court
at Indianapolis on June 8 entered decrees of foreclosure
against four of the underlying operating companies, viz.:
Ohio <k Indiana Gas Co., Indiana Natural & Illuminating
Gas Co., Logansport & W abash Gas Co. and Lafayette Gas
Co. See statement on page 170 (text) of “ Railway & In ­
dustrial” section and compare V. 84, p. 1310.
Penmans’ , Limited, Montreal.— Listed in M ontreal.— The
Montreal Stock Exchange has listed this com pany’s outstand­
ing capital stock, nam ely, $1,075,000 preferred, which is re­
ceiving quarterly dividends at the rate of 6 % per annum,
and $2,150,600 com m on stock, on which dividends have




p h o r u s , an d w ith o u t a t r a c e o f tita n iu m .
T h ere h a v e been s h ip p ed several
th o u s a n d to n s t o Iron and steel p la n ts , g iv in g e x c e lle n t sa tisfa c tio n .
T h e N ew Y o r k C en tral & H u d so n R iv e r R R . C o. has s e c u r e d , b y p u rch a se,
th e c o n t r o l o f th e L ittle F alls & D o lg e v ille R R . , ru n n in g fr o m L ittle F a lls,
N . Y . , t o D o lg e v ille , 5 m iles fro m te S a lisb u ry m in es, an d an a rra n gem en t
has b e e n en te re d in to w h e r e b y th e S a lisb u ry Steel & Ir o n C o. is t o bu ild an
e x te n s io n fro m D o lg e v ille t o Its p r o p e r t y , this e x te n s io n t o be leased t o and
o p e r a te d b y th e N ew Y o r k C en tral.
T h is a rra n g e m e n t giv e s e x c e lle n t
s h ip p in g fa c ilitie s , w ith lo w r a te s. T h e railro a d fro m D o lg e v ille Is now
b e in g b u ilt an d w ill b e In o p e r a tio n b y A u g . 1 1907 (“ b e fo r e S e p t. 1 . " — E d .) .
C o n s tru ctio n is u n d e r w a y fo r a m o d e m , e le ctr ic a lly d r iv e n c o n c e n tr a tin g
m ill, w ith a d a lly c a p a c it y o f 500 to n s o f c ru d e o re , o r 300 to n s o f h igh -gra d e
c o n c e n tr a te s .
A n aerial tr a m w a y , % m ile lo n g , is u n d e r c o n s tr u c tio n to
c o n v e y th e c ru d e ore fro m th e m in e s h a fts t o th e m ill fo r tr e a tm e n t.
N ew
e le ctr ic a l m in in g and h o is tin g e q u ip m e n t has been c o n t r a c te d fo r , and
w ill be in sta lle d at th e m in e sh afts t o la rg e ly Increase th e d a ily o u tp u t
b y A u g . 1 1907.
T h e 5 m iles o f railroad fro m D o lg e v ille t o th e m in es h a v e been c o n str u c te d
at an a p p ro x im a te c o s t o f $ 1 0 0 ,0 0 0 . T h is a m o u n t Is t o be p a id back in to
the tre a su ry b y th e N e w Y o r k Central, b y c r e d its e a ch m o n th o f th e gross
to n n a g e h a u le d o v e r th is b r a n c h , t o retire th ese b o n d s . T h e re w ill also be
set a side 25 % o f th e n e t earnings o f th e m in es fo r th e sam e p u rp o s e .
I t is
e s tim a te d th a t w ith th e n ew e q u ip m e n t th e o re a n d c o n c e n tr a te s c a n be
lo a d e d In th e cars r e a d y fo r sh ip m e n t fo r $1 10 p er to n , In clu d in g all m in in g
a n d c o n c e n tr a tin g e x p e n se s.
D e d u c t in g fre ig h t an d th e c o s t o f m in in g an d
c o n c e n tr a tin g fro m th e a v e r a g e p r ic e o f this c o m p a n y ’ s p r o d u c t , lea v es a
g ross p ro fit o f $2 80 p e r t o n , a ffo r d in g , o n a basis o f 300 to n s d a lly o u t p u t o f
o re an d c o n c e n tr a te s , $25 2 ,0 0 0 : a d m in is tra tio n e x p e n s e an d 6 % in terest
on 525 0,00 0 b o n d s, $25 ,0 0 0 ; a v a ila b le fo r sinking fu n d an d d iv id e n d s ,
$ 2 2 7 ,0 0 0 .
T h e m a n a g e m e n t is v e s te d In m en o f w id e e x p e r ie n c e In th e
Iron bu sin ess. T h e d ir e cto r s are :
E d w a rd L . W e lls , o f J. B . W e lls , S on &
C o ., P r e s id e n t S ta n d a r d H a rro w C o ., U tic a , N . Y . ; W illia m H . S w itz e r ,
G eneral M an ag er S a lisb u ry Steel & Ir o n C o ., U tic a , N . Y . ; W l'lia m K e r b y ,
M e rch a n t, N e w Y o r k C ity : W illia m J. M yers, T re a su re r U n ion S to v e W o r k s ,
N e w Y o r k C ity ; G e o rg e C. W in g . A u b u r n , M e.; H e n r y N . C la rk , B o s t o n .
M ass.; A . M . M ills, L ittle F a lls, N . Y .
O ffice rs: E d w a r d L . W e lls , P resi­
d e n t; W illia m K e r b y , V ic e -P r e s id e n t; W illia m H . S w itz e r , S e c r e ta r y an d
T reasu rer.

Schneible Co. of New York.— Bond Issue.— This com pany,
incorporated under the laws of New Y ork, with $ 1,000,000
authorized capital stock, has made a mortgage dated Mar. 1
1907 to the Northern Trust Co. of Chicago, as trustee, to
secure an issue of $100,000 20-year 5 % bonds. The com ­

J u n e 15 1907.J

THE CHRONICLE.

pany manufacturers carbonating apparatus. Joseph Schneible is President and William B. Greeley is Treasurer, 138
M ott St., New Y ork City.
Slater Shoe Co.— New Stock.— The “ Monetary Tim es” of
Toronto on June 8 said:
T h e c a p ita liz a tio n o f th e Slater S h oe C o. w ill b e In creased t o $ 1 ,0 0 0 ,0 0 0 ,
a n d m u c d o f th e s to c k w ill be ta k e n b y th e p re s e n t sh areh old ers. E ig h t
yea rs a g o th e business w as ta k e n o v e r fro m G . T . Slater & S on s. T h e
tra d e -m a rk s w ere th e n v a lu e d at $ 1 0 0 ,0 0 0 , a n d it w as c la im e d r e c e n tly
th a t th e y w ere n o w w o rth $ 1 ,0 0 0 ,0 0 0 .
T h e c o m p a n y ’s tr a d e in crea sed
fro m $50 0,00 0 In 1904 an d $ 0 0 0,00 0 in 1905 t o an e s tim a te d tra d e o f o v e r
$ 1 ,0 0 0 ,0 0 0 th is y e a r .
F o r th e six m o n th s o f th e sp rin g o f 1907 th e ord ers
ta k e n a g g re g a te d in v a lu e in e x ce ss o f $57 5 ,0 0 0 .

Sloss-Sheffield Steel & Iron Co.— Earnings.— The results
for the three and the six months ending May 31 1907 (August
estimated) were:
Th ree m onths
N et
In terest& P referred
C om m on
B a la n ce
ending M a y S I— ea rn in gs,
taxes,
dividend.
dividend.
S u rp lu s,
1907 (e s tim a t e d )--$ 5 7 6 ,4 2 8
$62 ,300 $114,000 (1 X % ) $12 5,00 0 $27 5,12 8
1906 ( a c tu a l)........... 3 6 9 ,2 6 3
7 9 ,0 3 5
114,000 __________________
176,228
S i x m onths—
1905-06 ( e s t .) ____ $ 8 9 1,76 7 $124,610 $ 2 2 8,00 0 ( 2 ^ % ) $ 2 5 0 , 0 0 0 $28 9,15 7
1904-05 (actu al) __ 800 ,1 3 0
156,786
228 ,0 0 0 _________________
415 ,3 4 4
T h e a c c r u e d d iv id e n d on th e c o m m o n s to c k a t th e p re se n t rate o f 5 %
p e r an n u m w o u ld call fo r $ 1 2 5,00 0 fo r th e th ree m o n th s , o r $37 2,00 0 fo r
th e n in e m on th s .
T o t a l surplus M ay 31 1907 (e s t.), $ 3 ,0 4 0 ,7 8 4 .— V . 8 4 , p . 8 1 8 , 80 0 , 625.

(L. C.) Smith Transit Co., Syracuse, N. Y .— Bonds Offered.
— The Detroit Trust Co., Detroit, M ich., the mortgage
trustee, is offering its 5 % interim receipts to be exchanged
for $125,000 first mortgage 5 % coupon gold bonds of $ 1 0 0 0
each, secured by a first mortgage on the new steel freighter
(under construction)' Smith Thom pson.
L e n g th o f vessel 4 5 8 fe e t, bea m 52 fe e t, d e p th 28 fe e t, c a p a c it y 7,500
to n s (e s t.); c o s t $ 3 2 0 ,0 0 0 .
B o n d issue $ 1 2 5 ,0 0 0 , t o be d a te d J u ly 1 1907,
p a y a b le in ten ann u al in s ta llm e n ts .
In terest p a y a b le J a n . 1 an d J u ly 1
a t o ffic e o f tru stee.
U n s o ld m a tu ritie s (on $ 1 0 9,00 0 b o n d s ), 1910 t o 1918
in c lu s iv e .
O ffic e r s — L . C. S m ith , P re sid e n t: W . L . S m ith , V ic e -P r e s id e n t; H . S.
W ilk in s o n , S ecreta ry ; H . W . S m ith , T re a su re r.— V . 82, p . 1326.

Sorento Coal Co., Chicago, 111.— Called Bonds.— Ten of this
com pa n y’s bonds are payable on July 1 1907 at the Common­
wealth Trust Co., St. Louis, M o.— V. 81, p. 36.
Southern California Cement Co.— New Enterprise— Mort­
gage.— This com pany, incorporated in California on N ov. 28
1906 with$2,500,000 authorized capital stock, recently made
a mortgage, it is understood, to the Los Angeles Trust C o.,
as trustee, to secure an issue of $1 ,000,000 bonds.
T h e c o m p a n y , it Is s ta te d , o w n s e x te n s iv e c e m e n t r o c k qu a rries a b o u t
4 m iles from R iv ersid e an d p ro p o s e s t o bu ild a c e m e n t p la n t w ith a d a ily
c a p a c it y o f 4,5 0 0 barrels a t a new to w n -s ite t o be k n o w n as C r e s c e n t C ity.
T h e sam e interests h a v e in c o rp o ra te d th e C rescent C ity S t. R y . w ith $ 1 0 0,00 0
c a p ita l s to c k .
O a k la n d capitalist-! are in te re ste d .
T h e in c o rp o ra to r * o f
b o th com p a n ies are: G eorge W . R e e d , P . C. B la c k . C. N . R e e d , B. H .
G riffin an d C. T . W a lk e r, all o f L os A n ge le s.

Standard Coupler Co.— Dividend Increased.— The directors
have declared a semi-annual dividend of 2^ % on the $ 1,200,000 com m on stock, payable with the usual 4 % (semi-annual)
on the $300,000 preferred June 29 on stock of record June
24. This increases the annual dividend rate for the common
shares to 5 % , contrasting with 2 % prior to last December.
On Dec. 24 1906 2 % (semi-annual) was paid, raising the
rate to 4 % .— V. 83, p. 1596.
Standard Iron Mining & Furnace Co., Philadelphia.—
Bonds at A uction.— In this city on May 8 Adrian H. Muller
& Son sold at auction $225,000 first mortgage skg. fund 5 %
gold bonds due July, 1933, at 10.
T h e c o m p a n y ow n s Iron fu rn aces at C h ick ies, L a n c a s te r , P a ., h a v in g at
la st a c c o u n ts a to ta l a n n u al c a p a c it y o f 33,500 to n s ; also an o r e -b riq u e ttin g
p la n t w ith a d a ily c a p a c it y o f 140 to n s .

Standard Screw Co.— Dividend Increased.— The directois
on Thursday declared a semi-annual dividend of 3 % on the
com m on stock, payable July 1 with the usual 3 % on the
$2 ,000,000 preferred, to holders of record June 20. This
places the com m on stock on a 6 % basis, as against 5 % for
recent periods. Compare V. 84, p . 1185.
Suburban Telephone Co., Clayton, Mo.— Mortgag•.— Th«
“ St. Louis G lobe-D em ocrat” of Dec. 20 said:
S u b u rb a n T e le p h o n e C o .. w h ich w as o rg a n iz e d at C la y to n b y a n u m be*
o f St. L ou is C ou n ty c a p ita lists, and later so ld t o th e K ln lo c h T e le p h o n e C o.
o f S t. L ou is last sp rin g , y e s te r d a y Hied a d e e d o f tru st o n its p r o p e r t y In th e
c o u n t y secu rin g 5 % b o n d s t o th e a m o u n t o f $ 6 0 0 ,0 0 0 .
(In Jun e last th e
a u th o riz e d issue o f ca p ita l s to c k w as in crea sed fro m $10 0,00 0 t o $ 6 0 0 ,0 0 0 .
H . W . K a r re n b r o ck is P resid en t a n d J o se p h B. G reen sfeld er, S e c r e t a r y .—
E d . " C h r o n ic le .” )

Susquehanna Electric Power Co.— See Susquehanna Power
Co. below .— V. 79, p. 737.
Susquehanna Power Co.— New Stock for Projected Enter­
prise.— A meeting of the shareholders was to be held at the
office in Conowingo, M d., on May 21 for the purpose of
increasing the capital stock from $3,500,000 to $5,000,000
b y the creation of $1,500,000 preferred stock.
T h e c o m p a n y Is c o n tr o lle d b y N e w Y o r k a n d P h ila d e lp h ia c a p ita lis ts , its
o ffic e r s in clu d in g B . H a r v e y W e lsh , o f P h ila d e lp h ia , P a ., wh® is P r e s id e n t ,
1110 B etz B u ild in g , P h ila d e lp h ia , a n d J o e l H . D e V lc t o r , 505 C h e s tn u t
S tre e t, P h ila d e lp h ia , S e cre ta ry .
A m o n g th e d ir e cto r s are: B. H a r v e y
W e ls h , J oel H . D e V lc to r , Jam es H . H a r lo w , L em u el H . W o d d r o p , C .
W illia m W o d d r o p , E d w a rd D . E a s to n .
T h e p la n Is t o esta b lish an h y d r o ­
e le ctr ic p la n t on th e S u sq u e h a n n a R iv e r n ear C o n o w in g o , M d ., t o d e v e lo p
f ro m 5 0 ,000 t o 7 0 ,0 0 0 h orse p o w e r a n d t o tra n s m it th e e le c t r ic it y fo r p o w e r
a n d lig h tin g p u rp oses.
T h e M cC a ll’s P e rry P o w e r C o ., b a c k e d b y H a r v e y F isk & S o n s o f N ew
Y o r k , has fo r som e m o n th s p a s t been e n g a g e d in th e c o n s t r u c tio n o f an
e x te n s iv e h y d r o -e le c tr ic p la n t a t M cC a ll’ s F e rry on th e S u s q u e h a n n a a b o u t
14 m iles a b o v e C o n o w in g o .
B e tw e e n th e p r o p e r t y o f th e S u sq u e h a n n a
P o w e r C o. a n d th e M cC all’s F e rry P o w e r C o ., it Is s ta te d , is th e p r o p o s e d
lo c a tio n o f th e p r o je c t e d p la n t o f th e S u sq u e h a n n a E le c tr ic P o w e r C o .
(V . 71, p . 290; V . 72, p . 824; V . 75, p . 33, 1150; V . 78, p . 992) in w h ic h
B a ltim ore ca p ita lists are in te re ste d . T h e S u sq u eh an n a P o w e r C o , first
n a m e d , w as r e c e n tly in v o lv e d in litig a tio n w ith o n e o f its n e ig h b o r s .
The
“ M a n u fa ctu rers R e c o r d ” o f O c t . 4 1906 c o n ta in e d a d e s c r ip tio n o f th e
M cC all en terprise an d th e sam e p a p e r. In Its Issues o f Jan . 3 a n d F e b . 7
h a d referen ces t o th e p r o je c t o f th e S u s q u e h a n n a P o w e r C o.

Tidewater Steel Co.— Option Sought.— The reorganization
com m ittee have notified the shareholders that a party in
Cleveland has asked for an option on the stock at 74 cents




1433

per share. Certain large holders, including D ick Brothers
& C o., have already given the option asked.— V. 83, p. 690.
Union Home Telephone & Telegraph Corporation, Log
Angeles, Cal.— Acquisitions.— This com pany was recently
incorporated (V 83, p. 443) with $ 10,000,000 of authorized
capital stock, of which # 1,000,000 has been paid up, and
made a mortgage to the Title Insurance & Trust Co. o f Lo«
Angeles, as trustee, to secure $10,000,000 bonds.
T h e c o r p o r a tio n is org a n ize d t o ta k e o v e r in d e p e n d e n t pla n ts in C a liforn ia .
Tts first issue o f b o n d s, $ 1 ,0 0 0 ,0 0 0 , is Issued t o a rran ge fo r In d ep en d en t
plant* In th e cities o f L o n g B e a ch , San B e rn a rd in o , S a n ta A n a , San P e d ro
a n d V e n tu ra , a n d th e to w n s o f F u lle r to n , C o lto n , A n a h e im a n d H ig h la n d *
a n d t o en large a n d im p ro v e th o s e p la n ts .
It Is e x p e c t e d th a t a sim ila r
g r o u p o f in d e p e n d e n t e x c h a n g e s w ill s o o n be a rra n g e d fo r , a n d that fro m
tim e t o tim e th is w ill be r e p e a te d .
B on d s 5 % g o ld , $1,000 e a ch , d a te d A u g . 1 1906, d u e A u g . 1 1836, b u t
s u b je c t t o call A u g . 1 1916 in a n y a m o u n t a t 105.
A n n u al sin k in g fu n d
p a y m e n t , b e g in n in g o n O ct. 1 1916, 2 % o n all b o n d s o u ts ta n d in g .
In terest
p a y a b le F e b . 1 a n d A u g . 1 a t N a tio n a l B a n k o f C a lifo rn ia , L os Ang-eles, a n d
a t C hase N a tio n a l B a n k , N ew Y o r k .
D ire cto rs : C ol. J. M . C. M a rb le , P re s id e n t; G e o . B. E llis, V ic e -P r e s i­
d e n t; Jas. N . B a ld w in . S e cre ta ry ; J. E . F ls h b u r n , T reasu rer; A . B. M eC u tc h e o n , A tt o r n e y ; W . L . L is s e n b y , M a n a g e r ; A . R . D e t w i le r , J o h n E .
M arble, Joh n V a n L iew a n d F ra n k W a c h t e r .— V. 8 3 . p . 973.

United Bank Note Corporation.— Large Contract for Con­
trolled Com pany.— See “ American Bank Note C o.” under
“ Miscellaneous News” on a subsequent page of this issue.—
V. 84, p. 225.
United Electric Securities Co., Boston.— Bonds Offered.—
Parkinson & Burr, New Y ork and Boston, have just pur­
chased a new block of United Electric Securities Co. bonds
and offer $ 100,000 thereof at 99 and interest. These bonds
are part of an authorized issue of $500,000 collateral
trust gold 5s, 25th series, dated Feb. 1 1907 and due Feb. 1
1937, but callable on any coupon date at 103 and interest.
Interest payable Feb. 1 and Aug. 1 at the American Trust C o.,
Boston. Of the authorized issue, $43,000, we are inform ed,
are about to be canceled. A circular letter says:
T h is c o m p a n y , sin ce its in c o r p o r a tio n in 1890, has issu e d , I n clu d in g th e
n e w series, $ 1 5 ,5 0 0 ,0 0 0 o f Its co lla te r a l tru s t b o n d s .
O f th e se th ere h a v e
b e e n re d e e m e d a n d ca n c e le d $ 1 1 ,5 1 2 ,0 0 0 , le a v in g o u t s ta n d in g a t th e
p re s e n t tim e $ 3 ,9 8 8 ,0 0 0 .
T h ese p re se n t o u t s ta n d in g b o n d s are secu red
d ir e c t ly b y $ 5 ,3 4 3 ,0 0 0 c o lla te ra l in th e sh a p e o f m o r tg a g e b o n d s an d
i n d ir e c t ly b y $ 1 ,5 0 0 ,0 0 0 s t o c k a n d $ 1 ,2 2 0 ,0 0 0 o f a c c u m u la te d surplus,
m a k in g a to t a l o f $ 8 ,0 6 3 ,0 0 0 se cu rin g th e o u ts ta n d in g $ 3 ,9 8 8 ,0 0 0 colla tera l
t r u s t b o n d s .— V . 84, p . 225.

United Fruit Co., Boston.— New Bonds Sold.— Jackson
& Curtis, New Y ork and Boston, offered this week, at.
prices to yield the investor 6 M % interest, and have since
sold, the $1,600,000 5 % serial bonds authorized in con­
nection with the purchase of the Nipe Bay Co. (Compare
V. 84, p. 1311). These bonds are dated June 1 1907, due
in equal annual installments from June 1 1909 to June 1 1918,
but callable on any interest day after June 1 1910 at 103 and
interest. Interest payable Dec. 1 and June 1. The adver­
tisement says:
T h e b o n d s are a d ir e c t o b lig a tio n o f th e U n ite d F ru it C o. a n d ra n k a h ea d
o f $1 8 ,3 4 9 ,0 0 0 s t o c k -p a y in g d iv id e n d s o f 8 % y e a r ly .
T h e c o m p a n y has
n o m o r tg a g e d e b t a n d a grees n o t t o p la c e a n y m o r tg a g e o n its p r o p e r t y
d u rin g th e life o f this Issue w it h o u t se cu rin g th ese b o n d s u n d e r such m o r t ­
ga g e .
F o r th e fiscal y e a r e n d in g S e p t. 30 1906 th e c o m p a n y r e p o r te d n et
in c o m e o f $ 3 ,9 0 0 ,8 8 7 , w ith t o t a l in te re st ch a rg e s o f $ 1 1 4 ,3 5 3 . S in ce th e
last r e p o r t th ere h a v e been re tire d o r c o n v e r t e d in to s t o c k $ 4 8 8,00 0 b o n d s ,
so th a t th e re are o u ts ta n d in g t o -d a y $ 1 8 ,3 4 9 ,0 0 0 s t o c k a n d $ 1 ,3 3 2 ,0 0 0
c o n v e r t ib le b o n d s .— V . 8 4 , p . 131 1, 1057.

United Shoe Machinery Corporation, Boston.— Stock
Dividend.— The directors yesterday declared a stock dividend
of 25 % on the com m on stock calling for the issue of a b o u t''
179,000 new com m on shares. The regular quarterly divi­
dend of 2% on the stock was also declared. The “ Boston
News Bureau” gives the following to show that the com pany
has increased its capital b y only 5 3 % in the past eight years,
while the net earnings per annum have increased 155% .

1906-07
1905-06
1904-05
1903-04
1902-03
1901-02
1900-01
1899-00

R esults fo r Y ea rs E n d in g M a rch 1 .
C a pital
Total
N et *E a rn in g s on
S tock.
S u rp lu s .
E a rn in g s. C om . Slock.
$ 2 7 ,2 2 4 ,2 0 0
$ 1 1 ,1 2 6 ,0 0 0 $ 4 ,1 8 3 ,0 0 0
$5.06
2 5 ,5 3 0 ,3 3 7
8 ,7 7 4 ,6 0 5
3 ,5 9 6 ,2 0 0
4.24
2 0 ,6 5 7 ,8 9 4
6 ,7 1 0 ,9 1 4
3 ,0 5 2 ,9 1 0
3.48
2 0 ,6 5 7 ,8 9 4
5 ,1 2 6 ,3 9 9
2 ,7 8 4 ,8 8 2
3.11
_______________ 2 0 ,6 5 7 ,8 9 4
3 ,7 7 7 ,4 4 5
2 ,7 2 0 ,0 9 3
3.07
_______________ 2 0 ,6 5 7 ,8 9 4
2 ,5 0 8 ,9 5 2
2 ,4 5 8 ,2 6 0
2.65
_______________ 1 8 ,2 9 2 ,2 1 8
1 ,3 5 5 ,9 1 4
1 ,7 7 0 ,1 1 0
1.69
_______________ 1 7 ,761,405
612 ,1 9 2
1,6 3 8 ,5 8 0
1.57

*
A s ap p lied to th e 714 ,3 1 3 shares o f c o m m o n s to c k n o w o u ts ta n d in g .—
V . 84, p . 1372.

United States Crushed Stone Co., Chicago.— Bond Issue.—
This com pany, incorporated under the laws of the
State of Maine, its capital stock being $600,000, all of
one class and all outstanding, par of shares $ 100, has made
a consolidated first mortgage to the First Trust & Savings
Bank and Emile K . Boiset, both of Chicago, as trustees to
secure an issue of $600,000 5% gold bonds, dated April 1 1907.
T h e b o n d s w ill m a tu re A p ril 1 192 7, b u t are s u b je c t t o call o n A p ril 1
1912 o r a n y in terest d a y th e re a fte r t o a n y a m o u n t at 105.
In terest p a y ­
a b le A p ril 1 an d O ct. 1 at o ffic e o f First T ru st & S a v in gs B a n k , C h ica g o .
A n n u a l sin k in g fu n d , b e g in n in g A p ril 1 191 2, in a m ou n ts su fficie n t t o p a y
2 ) 4 % o f o u ts ta n d in g b o n d s y e a r ly .
O f th e a u th orized issu e $ 1 1 0,00 0 Is
reserved to retire $ 1 0 9 ,5 0 0 u n d e rly in g m ortg a g e s.
T h e d eed o f tru st co v e rs
b o th th e M cC ook Q u a rry , w ith 170 acres o f ston e la n d in C o o k C o u n ty , 111.,
and th e ly e s Q u arry in R a cin e C o u n ty , W ls ., w ith 100 acres; also large
cru sh in g p la n ts. T h e p ro p e rtie s, it is sa id , h a v e a c a p a c ity o f 900 ,000
ton s p er y e a r.
P resid en t, Charles A . K lo tz ; Secr& tary a n d T reasu rer,
Sam uel D eu tsch .

United States Envelope Co., Springfield, Mass.— A cquisi­
tion— New Plant.— Treasurer M. M. Wharfield recently con­
firmed the reported purchase of a large tract of land lying
between the railroad and Cypress Street, Springfield, Mass.,
as the site for a large factory building, which, as tentatively
planned, would cost from $300,000 to $400,000, and contain
between 350,000 and 400,000 square feet of floor space,
being, it is said, about twice what the compan}'- has now .
Definite plans, financial and otherwise, in connection with
the undertaking, have yet to be concluded.— .V 83, p’ 378,
384.

1434

THE CHRONICLE

United States Rubber Co.— Listed.— The New Y ork Stock
Exchange has listed $800,000 additional first preferred stock
with an extension of time to N ov. 1 1907, to be granted to
the com pany to list $2,413,900 additional first preferred and
$151,400 additional sscond preferred, m aking the totals
authorized to be listed under this and previous applications
as follows: $38,676,900 first preferred and $10,000 second
preferred. The last official application says:
T h e p resen t a u th o r iz e d ca p ita l s to c k c o n s ists o f $ 4 0 ,0 0 0 ,0 0 0 1st p re ­
fe rr e d , $ 1 0 ,0 0 0 ,0 0 0 s e c o n d p re f. an d $ 2 5 ,0 0 0 ,0 0 0 c o m m o n s t o c k .
T h ere Is
n o w o u ts ta n d in g $ 3 6 ,2 6 3 ,0 0 0 first p re fe rre d an d $ 9 ,8 4 8 ,6 0 0 s e co n d p re­
fe rr e d an d $ 2 5 ,0 0 0 ,0 0 0 c o m m o n .
O f th e c o m m o n s t o c k $ 1 ,3 3 4 ,0 0 0 Is in
t h e tr e a su r y o f th e M eyer R u b b e r C o . a n d h a s n o t been lis te d .
In th e
a p p lic a tio n d a te d Ja n . 31 1906 It w as s ta te d t h a t th e M ey er R u b b e r C o .,
o n e o f th e orig in a l su b s id ia r y c o m p a n ie s , had fo r so m e ye a rs se rve d as a
h o ld in g c o m p a n y fo r th e U n ite d S ta te s R u b b e r C o . and h ad a cq u ire d and
t h e n held in its trea su ry 5 8 ,0 0 0 shares o f th e first p re fe rre d s to c k o f th e
U n ite d S tates R u b b e r C o .
U n d e r said a p p lic a tio n o f Ja n . 31 190 6, au ­
t h o r it y w as given fo r th e listin g o f 5 0 ,0 0 0 o f said shares o f first p re fe rre d
s to c k so h eld b y said M eyer R u b b e r C o ., w h ich said M ey er R u b b e r C o . had
t h e n sold fo r ca sh .
I t b e in g d e e m e d d esirable th a t said c o m p a n y sh o u ld
c o n v e r t In to cash th e re m a in in g 8,0 0 0 shares o f first p referred s to c k still
held In its tr e a s u r y , said M eyer R u b b e r C o . has sold said 8,0 0 0 shares on
t h e basis o f $100 p er share, o r fo r th e su m o f $ 8 0 0 ,0 0 0 , w h ic h sum has b e e n
r e c e iv e d in cash in Its tre a su ry fo r Its c o r p o r a te p u rp o se s, an d u ltim a te ly
f o r th e c o r p o r a te p u rp o se s o f th e U n ite d S tates R u b b e r C o .— V . 84, p .
1 3 7 3 , 1252.

United Steel Co., Canton, O .— New Stock.— This com pany,
incorporated in Delaware on July 23, 1902, with $500,000
capital stock, to build an open-hearth furnace at Canton, to
supply the Carnahan Tin Plate & Sheet Co. (V . 84, p . 695)
and other Canton enterprises with steel, has increased its
capital stock from $500,000 to $750,000. J. E . Carnahan
is President.
United Water Improvement Co., Philadelphia.— Receiver­
ship.— Judge McGill in the Common Pleas Court at Phila­
delphia on May 31 appointed President W . W . Gibbs of
Philadelphia as receiver for the com pany in equity proceed­
ings brought b y the Electric Storage Battery Co., a creditor
to the extent of $2,845. The com pany admits that it is
tem porarily embarrassed for want of ready m oney.
T h e c o m p a n y w as o rg a n iz e d b y M r. G ib b s In 1905 w ith $ 5 ,0 0 0 ,0 0 0 ca p ita l
s t o c k , o f w h ich $ 1 ,0 0 0 ,0 0 0 is 7 % p re fe rre d (p a r o f shares $ 5 0 ), t o p u rch a se ,
o reig n p a te n ts c o v e r in g th e o z o n e sy ste m fo r th e p u r ifla tio n o f w a te r an d
t o in sta ll th is system fo r m u n icip a litie s in th e U n ite d S ta te s.
The o u t­
s ta n d in g ca p ita l s t o c k is s ta te d as $ 4 ,7 2 8 ,0 0 0 . o f w h ich $ 7 2 8 ,0 0 0 is p r e ­
fe rr e d . T h e c o m m o n s t o c k , it w as sa id , w o u ld b e g iv e n as a b o n u s w ith the
p referred .
T h e floa tin g d e b t is n o w sta te d as a b o u t $ 1 0 0 ,0 0 0 .
N e g o t ia ­
t io n s fo r th e esta b lish m e n t o f th e s y s te m in N e w Y o r k C ity are r e p u te d t o
h a v e p rogressed fa v o r a b ly .

Warwick & Coventry ( £ . 1.) Water Co.— New Mortgage.—
A mortgage has been filed to the Industrial Trust Co. of
Providence, as trustee, to secure $500,000 5% bonds.
O f th is issue $25 0 ,0 0 0 w ill b e re served t"> ta k e u p th e $25 0 ,0 0 0 first m o r t ­
g age 5 % b o n d s m a tu rin g in 1909, an d th e re m a in d e r w ill b e u sed fo r im ­
p r o v e m e n ts a n d a d d itio n s , In c lu d in g th e p u rch a se o f o th e r co m p a n ie s .
C o m p a n y w as in c o r p o r a te d In 1887 b y G eneral A s s e m b ly o f R h o d e Isla n d .
O p tio n s a t $30 p er share w e re r e c e n tly r e p o r te d t o h a ve been secured on all
t h e c o m m o n s to c k o f th e P a w t u x e t V a lle y \\ a te r C o . J o h n J . A r n o ld is
P re sid e n t an d H erb ert B . B a rto n , S e cre ta ry .

Western Union Telegraph Co.— Quarterly.— Earnings
(partly estimated) for the quarter and the twelve months
ending June 30 were:
3 m onths ending
N et
J u n e 30—
r e v en u e.
1906 ( e s t . ) _ . _______ _________$ 1 ,6 5 0 ,0 0 0
1905 ( a c t u a l ) _______________ 1 ,7 4 0 ,6 3 4
- m onths—
1905-06 (e s t .) .......... ................ $ 6 ,4 3 7 ,0 0 9
1904-05 ( a c t u a l ) .................... 7 ,0 7 0 ,5 8 2

In terest
charge.
8 3 6 6 ,1 8 7
3 3 4 ,0 7 5

D ivid en d s
paid .
$ 1 ,2 1 7 ,0 2 4
1 ,2 1 7 ,0 2 2

B a la n ce,
su rp lu s.
$66,789
189,537

$ 1 ,3 9 7 ,7 5 0
1 ,3 2 7 ,9 7 5

$ 4 ,8 6 8 ,0 9 4
4 ,8 6 8 ,0 8 8

$ 1 7 1,16 5
8 7 4 ,5 1 9

Total sirplus (estimated) June 30 1907 was $16,019,893.
The regular quarterly dividend of 1 }4 % has been declared,
payable July 15.— V. 84, p. 808.
— The American Bank Note Co. has just com pleted the
order of the New Y ork New Haven & H artford R R . French
loan for $29,000,000. There were 290,000 bonds of 500 francs
denom ination. This required the engraving of about 114
plates weighing 2,000 pounds and the printing of 4,350,000
separate impressions. Including coupons, there were 18,270,000 numbers placed on the bonds. If the total number
of sheets were laid lengthwise, in one continuous line, they
would reach 206 miles. Alm ost 12 miles of wire stapling
and 55 miles of tape were used to bind bonds and coupons,
and the total weight of both was 10% tons. Deliveries were
made at the rate of 10,000 bonds a day. The printing is in
green ink and the text of both bond and coupons are in
English and French. The printing of such securities is done
with rigid care. The American Bank Note C o., which made
both the fifty million loan of the Pennsylvania and the New
Haven bonds, em ploys a system of scrutiny that traces the
minutest detail of manufacture. From the time the paper
leaves the mill until the finished bonds are delivered every
step is w atched. The sheets in the New Haven issue were
counted about sixteen million times during manufacture.
— O. M. Hopkins, who for several years was in the Boston
office of E. H. Rollins & Sons, and for the past few years
has been associated with the Chicago bond house of F. R .
Fulton & C o., has opened an independent office in the T a­
com a Building, Chicago, 131 La Salle Street, and will deal in
m unicipal bonds and other high-grade investm ent securities.
— The Landis Banking Com pany of Nashville, Tenn., has
rem oved to new offices on the ground floor of the Stahlman
Building. E very modern device is utilized in the new quar­
ters to facilitate the conduct of the com pany's business.
— W aterman, A nthony & Co., 67 Exchange Place, have
issued a booklet entitled “ Conservatism in Speculation,”
giving advice as to m ethods of operating in the stock market.
— Attention is called to the advertisement of “ Manufactur­
ing” offering treasury stock.




[V o l .

C > n n r a je r t u ii

l x x x iv

.

r£ ) , m c z .

COMMERCIAL EPITOME.
Friday Night, June. 14 1907.
Although trade is still hampered b y a backward season
aggregate transactions remain very large. In fact they con­
tinue to record gains over a year ago and still more so'w hen
compared with those of tw o years ago. The feeling is con­
fident, prices are firm, manufacturers are everywhere active.
L A R D on the spot has declined, owing to weakness in the
market for futures at the W est, the break in the grain mar­
kets and a reactionary tendency in live hogs. Trade has
been stagnant at the decline. City 8 .6 2 ^ c . and Western
8.6 0 ® 8 .7 5 c. Refined lard has also declined with trade dull
and offerings larger. Refined continent 9.25c., South
America 10.35c. and Brazil in kegs 11.35c. The speculation
in lard futures at the W est has been active with the tendency
of prices towards a lower level. The decline in the grain
markets has had a depressing effect; so has the dulness of
the spot trade and an easier tone at the stock yards. Pack­
ers have bought at times but there has been a lack of aggres­
sive support.
D A IL Y

C L O S IN G P R I C E S O F L A R D F U T U R E S IN C H IC A G O .
S a t.
M on.
T u es.
W ed .
T h urs.
F ri.
8 .9 0
8 .7 5
8 .5 5
8 .6 7 ^
8 .6 0
J u ly d e liv e r y ____________ 9 . 0 2 ^
S e p te m b e r d e liv e r y ______9.20
9 .0 7 y2 8 .9 2 )4
8 .7 2 M
8 .8 5
8 .7 5
O c t o b e r d e liv e r y ________ 9.2 0
9 .0 7 M
8.92>^
8 .7 2 }^
8.82J-5 8 .7 5

P O R K on the spot has been easier, but there has been no
marked change in quotations. Trade has been quiet. Mess
$17 50(5;$18 25 clear $17 25® $1S and fam ily $19® $19 50
Cut meats have been irregular but in the main easier, owing
to dulness and larger offerings. Pickled shoulders 9 % ® 10 c.,
pickled hams 12V£@ 12}^c. and pickled bellies 10
Fallow has been quiet and steady; city 6 J 4 @ 6 i^ c. Stearines have been moderately active and firm; oleo 9J/£@ 9% c.
and lard IOJ/4C. Butter has been quiet and easier; creamery
extras 2 3 ^ ® 24c. Cheese has been weak on large stocks;
State, small or large, colored or white, best, l l f ^ c . Eggs
have been quiet and easy; Western, firsts, 1 5 J ^ @ l5 % c .
O IL .— Cotton seed has been quiet and easy. Prime sum­
mer yellow 5 9 ® 6 1c.; prime winter yellow 64@ 65e. Linseed
has been active and firm. Refiners show disinclination to
sell for forward delivery. City, raw,American seed, 4 5 ® 4 6 c.;
boiled 4 6 ® 4 7 c.; Calcutta, raw, 70c. Lard has been quiet
and easier owing to lower prices for the raw material. Prime
7 6 ® 7 8 c.; No. I extra 57 ® 5 8c. Cocoanut has been quiet
and steady; Cochin 10J4@10i4^- and Ceylon 9 3 ^ @ 9 ^ c .
Peanut has been quiet and steady; yellow 50(5 60c. Olive
has been fairly active and steady; yellow 8 5 ® 9 0 o. Cod has
been in moderate demand and steady; dom estic 3 8 ® 40c. and
Newfoundland 4 0 ® 42c.
C O FFEE on the spot has been dull at 6 % c. for Rio N o. 7.
W est India growths have been quiet and steady. Fair to
good Cucuta 8 ^ @ 9 ) 4 c . The speculation in future contracts
has been extrem ely dull with correspondingly small fluctua­
tions in prices. The feeling has been somewhat easier in
the main, but. this has been due as much as anything to the
stagnation of the speculation. There has been some selling,
however, against firm offers from Brazil and some tired hold­
ers have liquidated. Rumors that the valorization scheme
has been abandoned have been ridiculed and have had little
effect on the market. It is stated, however, that the Bra­
zilian Governm ent has ceased making purchases.
The closing prices were as follows:
J u n e _____________ 5 .4 0 c .I O c t o b e r ___________ 5 .1 5 c . |F e b r u a r y _________ 5 .2 5 c .
J u l y _____________ 5 .2 0 c . |N o v e m b e r _______ 5 .15c . I M a r c h ____________ 5 .3 0 c .
A u g u s t _____ _____ 5 .1 5 c . D e c e m b e r ________ 5 .2 0 c . j A p r i l --------------------- 5 .3 0 c .
S e p te m b e r _______ 5 .1 5 c . |J a n u a r y ___________ 5 .2 5 c . i M a y _______________ 5 .3 5 c .

S U G A R .— Raw has been dull and easy. Centrifugal 96degrees test 3 13-16c., m uscovado 89-degrees test 3 5-16c.
and molasses 89-degrees test 3 1-16c. Refined has been dull
and steady. The continued unseasonably cold weather has
affected consum ption. Granulated 4.90c. Teas have been
m oderately active and firm. Spices have been steady and
in fair dem and. Hops have been quiet and steady.
P E T R O L E U M .— Refined has been in active demand for
both export and domestic account, and prices have ruled
strong. Refined, barrels, 8.45c., bulk 5c. and cases 10.90c.
Naphtha has been active and firm; 73@76-degrees 18c. in
100-gallon drums. Gasoline has been active and firm; 86degrees 21c. in 100-gallon drums. Spirits of turpentine has
been fairly active and steady at 60J^® 61c. Rosin has been
quiet and easier at $4 55 for common to good strained.
TOBACCO .— The market for domestic leaf has been quiet.
Manufacturers, as a rule, report that transactions are copfined to small lots. More cigar-makers are idle than for
some years past, though this is due not only to the dulness
of trade hut also to the strike am ong shippers. The tone of
the market, however, has been generally firm. Crop reports
as a rule are less favorable, owing to the continued unseason­
ably low temperatures and excessive moisture. Sumatra
has been firm. A t the last inscription 3,500 bales of Su­
matra were purchased for American account.
C O P P E R has been less active and easier; lake 2 4 ® 2 4 K Cand electrolytic 2 2 % ® 23c. I.ead has been fairly active and
steady at 5.80® 5.85c. Spelter has been quiet and steady
at 6 .5 2 H ® 6 .55c. Tin has been less active and irregular;
Straits 4 1 ^ 2 @ 4 1 % c. Iron has been firm and m ore active;
No. 1 Northern $24 20 @ $ 25 20, and No 2 Southern $2 4®
$25

1435

THE CHRONICLE

J u n e 15 1907.]

On S h ipboard, ATot G la r e d f o r -

COTTON.
Friday Night, June 14 1907.
T H E M OVEM ENT OF T H E CR O P as indicated b y our
telegrams from the South to-night is given below . For
the week ending this evening the total receipts have reached
27,775 bales, against 30,299 bales last week and 47,513
bales the previous week, making the total receipts since
the 1st of September 1906, 9,548,588 bales, against 7,513,118
bales for the same period of 1905-06, showing an increase
since Sept. 1 1906 of 2,035,470 bales.
R eceip ts at—

M on.

S a t.
971
____

G a lv e s t o n _______
P o r t A r t h u r ____
C o r p . C h ristl, & c.
N ew O rlea n s____
______
M o b ile
P e n s a c o l a _______
J a c k s o n v ille , &c_
Savannah
____
B r u n s w i c k ______
C h a rleston _ _ .
G e o r g e t o w n ____
W i l m i n g t o n ____
N o r f o l k __________
N ’p o r t N ew s, & c.
N ew Y o r k _______
B o s t o n _ ____
B a lt i m o r e _______
P h ila d e lp h ia ____

Th urs.

W ed .

1,795

861
____

F r i.

1,017
____

5,647

“ §7
3,948
4

‘ "87
9,983
179

1,082

5‘, 129
*154
50
209
4,262
697

2~107
115

811
5

1,357
3

991

'8 0 5
____

1,265

518

167
27
____
_
468

7

2

32
705
____

12
1,085
____
____

142
____
15
461
697
____
‘ 417
143

3
44
373

77
882

* 50
29
756

145

101

” 77

'U 6

6

’ 109

” 26

"2 3 8

4,666

4,897

3,625

3,016

4,1 4 5

"4 3 9
417
522

7 ,426: 27,775

The follow ing shows the w eek’s total receipts, the total
since Sept. 1 1906, and the stocks to-night, com pared with
last year:
190 6-0 7.
R eceip ts to
J u n e 14.

T h is
w eek.

S in ce S ep
1 1906.

1 90 5-0 6.
S in ce S ep
1 1905.

T h is
w eek.

G a lv e s t o n ________
P o r t A r t h u r ______
C o r p . C h ristl, & c .
N ew O r le a n s ____
M o b i l e _____ _____
P e n s a c o l a _______
J a c k s o n v ille , &c_
S a v a n n a h _______
B r u n s w ic k _______
C h arleston ______
G e o r g e t o w n ______
W i l m i n g t o n .. . .
N o r fo lk
.
N p o r t N ew s, & c .
N ew Y o r k _______
B o s t o n ___________
B a lt im o r e ________
P h il a d e l p h i a ____

5,647 3 ,8 2 5 ,1 2 3
132,823
87
71,987
9,983 2,244,341
179
252 ,324
139 ,398
...........
7,545
5,129 1,4 5 5 ,5 0 2
170 ,609
154
146,658
50
1,195
209
3 22 ,1 3 0
4,262
5 76 .6 3 8
097
4 0,279
22,704
439
71,532
417
58,826
8,974
522

7 ,9 2 8 2,489,851
111,690
375
37,325
6,446 1 ,584,503
1,306
236,492
144,418
" ‘ "23
17,264
5,358 1,438,487
184,388
1,946
511
169,050
5
1,222
1,435
317 ,488
3,549
619,054
188
21,674
6,575
313
6 1,400
247
63,799
228
8,432

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

27,775 9 ,5 4 8 ,5 8 8

29,858 7 .5 1 3 ,1 1 8

S to c k .
1907.

1906.

64,772

38,878

9 0,862
9,511

7 5,2 8 8
7.4 0 4

3 1,627
838
6,555

45,097
8,758
5,967

11,651
22,051
593
170,242
7,689
3,294
2,346

4,3 9 3
23,510
148 ,748
5 ,496
3,388
3 ,556

422,031

370,483

In order that comparison m ajr be made with other years,
we give below the totals at leading ports for six seasons:
1907.

R eceip ts at

1906.

G a lv e s to n ,& c.
N ew O rleans .
M obile
S a v a n n a h _.
C h a r le s to n , &c
W U m in g’n ,& t
N o r f o l k ______
N ’ p ort N ., &c
A ll o th e r s ____

5,734
9,983
179
5 ,129
204
209
4,262
3,697
1,378

8,303
6,446
1,306
5,3 5 8
516
1,435
3,549
188
2,757

T o ta l this w k .

27,775

29,8 5 8

190 5.

| 1904.

2 4 ,7 3 ?j
1 9,732
1,713'
11,5791
979
1,466 j
6,771
1 ,648j
9,9 2 2

2,1 9 2
6.251
7
3,0 9 3
917
21
766
_______
857

78,5 4 6

13,504

1903.
___________
5,369
8,719
42
889
-

1902.
2,243
7,024
41
5,375
113
806
941

1,064
32
1,655

2,105

17,772

18,648

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

The exports for the week ending this evening reach a total
o f 35,424 bales, of which 11,738 were to Great Britain,
1,865 to France and 21,821 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1906:

Exports
Jrom—

Week ending June 14 1907
Exported to—

G a lv e s to n -----PortArthu r
Corp.Christi,&c
New O rleans..
Mobile ...........
P e n sa co la ___
Fernandina _
Savannah ____
Brunswick.
Charleston____ ,
W ilmington
Norfolk . . .
Newport News
New Y ork ____
B o s t o n ______
B a ltim ore ____
Philadelphia . .
Portland, Me
San Francisco
Seattle ......... ..
Tacom a . I I I " ”
Portland, Ore
P e m b in a _____
D etroit_____ " ~
T o t a l _____

From. Sept. l 1906 to June 14 1907.
Exported to—

Great \
|Conti- i
j Great
| ContijBritain. Fr'nce nenl. 1 Total. I Britain. F ran ce: nenl.

Total.

776.
776 1,749,188462,1771 .072,9313 .284,296
------ 1 _____ !
56,962 _____ I
75,861 132,823
1,547
1.547
902.067275.S28 820.607 1 ,998,502
68,524 2R.059
60,406 156.989
64,166 29,342
55,809 149,317
100
100
6,039 6.039 162,146 49,766 697,574 909,4S6
89,721 ..........
52,519 142,240
21,393
21,393
115,021
6 .000: 186,265! 307,286
7,414
2.367 ..........
5,047:
4,420
6,140
1,720
4,476 1,865 2,169 8.510 200.631 40,215 208.269 449,115
2,675; ____
53 2,728 135,294 ......... 1 17,709 153,003
1,507
87,195
6,175
527 2,034
64.650 158,020
33,870 ..........j
38.136
4,266
7,501 ..........
7,501
80,544
1,237
1.237
80,544
2.261
2,261
92,765
92,765|
49,543
2.945 2.945
49,543!
900
900
4,176
4,176.
9,679
9,679
J ___
11.738 1,865 21,821, 35.424 3,688,752 897,562 3,574,6018,160.915

Total 1905-06. 25.23818,748 63.769107.75512.733.744699.939 2,706.3116,139,994
______________________ i
I
I
■__________
;
i__________

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.




N ew O r le a n s ..
G a lv e s t o n ____
S a v a n n a h ____
C h a r l e s t o n ___
M o b ile ...............
N o r f o l k _______
N ew Y o r k ____
O th er p o r t s ___

3,460
10,767

T o t a l 1 9 0 7 ..
T ota l 1 9 0 6 -.
T o ta l 1905 . .

23,077
18,365
4 8 ,039

3,930

G er­
Other
m a n y . F o r e ig n

C oast­
w ise.

8,109
3,039

8,013
10,419

"l",i66
600

i",66o
100

5,750
14,348
3,100
2,800

67,350
39,499
31,327
6,555
3,761
7,703
167,142
23,611

12,848
9,390
19,584

19,532
17,334
1 4 ,282

15,696 75,083
18,827 7 4 ,8 5 5
22,440 116,143

346 ,948
295 ,6 2 8
308,605

1,048
300
14", 348

1,000
2,100
3,930
10,939
11,798

L eaving
stock .

T otal.
23,512
25,273
300

Total.

430

1,593
25
____

”

T o ta ls th is w k .

T u es.

573

Great
J u n e 14 at— P ritain . F r a n ce

Speculation in cotton for future delivery has shown some­
what less activity, and under the influence of better weather
over m ost o f the belt prices have declined. The decline has
not been very marked, for most of the crop advices have been
of an unfavorable kind, speaking of poor stands, grassy
fields, weak or dying plants in some sections, and a degree of
developm ent at the best which is far behind the norm al.
The weather in Texas has been h ot and dry, how ever, and
elsewhere the conditions have been seemingly so much more
favorable than recently that not a little liquidation has been
done both at home and abroad. Some evidently groundless
rumors were in circulation on W ednesday to the effect that
financial trouble was impending in the dry goods trade of
this city, and until they were em phatically denied they had
some effect. It is adm itted of course that the backwardness
of the season this year has had an unfavorable influence on
retail trade in spring and summer cotton fabrics, bu t con ­
ditions in the dry goods trade for all that are considered
eminently sound. On Thursday a report that M. C. I).
Borden had bought the entire stock of print cloths at Fall
River and had advanced the price
ha<l a stim ulating
effect, as it was taken to be a rather striking object lesson,
showing the feeling of confidence at the East. In the m ain,
however, it has been a week of liquidation in the markets
for cotton futures, owing to some im provem ent in the weather,
and also to the fact that com paratively cheerful crop reports
are more numerous than they were recently, although the
fact is not questioned that the season is late. M oreover,
the special report of a New Orleans newspaper which appeared
on Monday last was by no means so bullish as had been gen­
erally expected, although it dwelt with a certain emphasis
on the familiar drawbacks of the present season, and even
took the ground that there is likely to be a distinct decrease
in the acreage this season, the precise extent of which, how ­
ever, it did not undertake to determine. T o-d a y, after a
slight advance at the opening, prices again fell off, mainly
owing to quite a good weather m ap, some rather favorable
crop reports from some sections and general, if moderate,
liquidation. The South and W all Street sold, and some of
the room traders sold more freely for a decline, while outside
speculation for a rise was less active. Spot cotton has been
quiet during the week. Middling uplands closed at 13.15c.,
showing a decline for the week of 10 points.
The rates on and off m iddling, as established N ov. 21 1906
b y the Revision Committee, at which grades other than
middling m ay be delivered on contract, are as follows:
I<Wr-------------------c .
Bttict *nid. tair___
MW41iBg fair..........
Barely m id. fa ir ..
& kict good raid___
F olly good m id___
O*od m iddling____
Barely good m id ..
8Crict middling___
Middling: ................

2.00 on
1.75 on
1.50 on
1.25 on
1.00 on
0.83 on
0.76 on
0.57 on
0.38 on
Basis

Strict low m id - .c . 0.14 Off
Fully low m t4____ 0.S2 off
Low mkldltm*____ 0.50 off
Barely low m id___ 0.70 off
Strict good ord ___ 0.90 off
Fully good owl___ 1.07 off
Good ordinary____ 1.25 off
Strict g ’d mid. tgd. 0.30 on
Gvod m id. tie c«d - Even
Btrict mid. tincad. 0.06 off

Middling tin g e d .c . 0 12 oft
Strict low m id.ting 0 46 off
Low mid. tin g ed -. 0 90 off
Strict g’d ord. ting 1 25 off
Fully mid. stained 0, 42 off
Middling stain ed.- 0 50 off
Barely mid .stained 0. 78 off
Strict low m . stain. 1. 50 off
Fully 1. m. stained 1. 75 off
Low mid. stained. 2' 00 off

The official quotation for m iddling upland cotton in the
New Y ork m arket each day of the past week has b e e n :
J u n e 8 to J u n e 14
M id d lin g u p la n d . .

S at.
.................13.25

M on.
13.25

T u e s.
13.25

W e d . 'lh u r s .
13.15
13.15

F r i.
1 3 .1 5

N E W Y O R K Q U O TATIO N S F O R 32 Y E A R S .
The quotations for m iddling upland at New Y ork on
June 8 for each of the past 32 years have been as follow s:
1907 c ____ 1 3 .1 5
1 9 0 6 ._ _ ____ 11.20
190 5- . .
8.95
1904.
____ 12.40
1 90 3- . . ____ 12.50
1902
9 44
1 9 0 1 -- _ ____ 8.38
190 0- ._ ____ 9.06

1 8 9 9 .c _____ 6.31
1 8 0 8 ________ 6.50
18 9 7 ________ 7 .6 9
18 9 6 ________ 7.44
18 9 5 ________ 7.25
1894
7 31
1893 ________ 8 .0 0
1 8 9 2 ............... 7.56

1 8 9 1 .C- ____ 8.56
1890__ ____ 12.25
1 8 8 9 ._ _ ____ 11.12
1 8 8 8 . .- ____ 10.12
1 88 7- _ . - . 1 1 . 2 5
1886
9 12
1 8 8 5 . _ ____ 10.62
188 I- . . ____ 11.56

1 8 8 3 -C ____
1 8 8 2 ____ 1 8 8 1 _______
1 8 8 0 .. . . .

.1 0 .6 2
-1 2 .1 9
_ 1 1.06
.1 2 .0 0
- 12.81

1 8 7 7 - ._ -. .1 1 .7 5
1 8 7 6 . - - . . .1 2 .0 6

M A R K E T AN D SALES A T N E W Y O R K .
The total sales of cotton on the spot each day during the
week at New Y ork are indicated in the follow ing statement.
For the convenience of the reader we also add colum ns which
show at a glance how the market for spot and futures closed
on same days.

S a tu rd a y . .
M o n d a y ___
T u e sd a y . .
W ednesday
T h u r sd a y .
F r id a y ____
T o t a l ___

S p o t M arket
C losed.

F u tu res
M a rk et
Closed.

S t e a d y ...................... ..
S t e a d y _____________
S t e a d y _____________
S te a d y , 10 p ts . d e c .
S t e a d y _____________
S t e a d y _____________

F i r m ________
B a re ly s te a d y
S t e a d y _______
S t e a d y _______
S t e a d y _______
S t e d a y _______

S a les o f S p o t and Contract.
C on­
C on E x p o rt s u m ’ n. tract.
....
----------

::::
. . . .

'2 6 6

'2 6 6

"IOO

’ lOO
300

300

300

'3 0 0
300

Total.

J u n e 14—
1907.
S t o c k a t L i v e r p o o l ____ . .b a l e s - 1 ,1 3 7 ,0 0 0
S t o c k a t L o n d o n _ _______________
1 5 ,0 0 0
S t o c k a t M a n c h e s t e r _____________
9 0 ,0 0 0

190 6.
8 0 8 ,0 0 0
16,000
7 0 ,0 0 0

190 5.
8 1 1 ,0 0 0
1 3 ,0 0 0
5 5 ,0 0 0

T o ta l G rea t B rita in s t o c k ____ 1 ,2 6 2 ,0 0 0
S to c k a t H a m b u r g ........ .....................
14,000
S to c k at B r e m e n ____________ _____
3 3 4 ,0 0 0
_______
_______
S t o c k at A n t w e r p ______
S to c k at H a v r e ___________________
258 ,0 0 0
S t o c k at M arseilles______ _________
3 ,0 0 0
S t o c k a t B a r c e l o n a _______________
16,000
S to c k at G e n o a ____________________
6 7 ,0 0 0
S t o c k a t T r i e s t e ___________________
2 8 ,0 0 0

8 9 4 ,0 0 0
1 4 ,000
2 2 5 ,0 0 0
_____
1 1 8 ,0 0 0
4 ,0 0 0
13,000
5 2 ,0 0 0
7 ,0 0 0

8 7 9 ,0 0 0
14,0 0 0
3 2 7 ,0 0 0
1,0 0 0
1 05 ,000
3 ,0 0 0
2 8 ,0 0 0
5 1 ,0 0 0
5 ,0 0 0

T o t a l C on tin en ta l s t o c k s _______

7 0 0 ,0 0 0

T o t a l E u rop ean s t o c k s __________1 ,9 0 2 ,0 0 0
I n d ia c o t to n a floa t fo r E u ro p e ___
2 3 1 ,0 0 0
A m e r ic a n c o t to n a floa t fo r E u ro p e
175,078
E g y p t , B r a z il,& c.,a flt. fo r E u r o p e 3 3 ,0 0 0
S to c k in A le x a n d r ia , E g y p fr _____
9 7 .0 0 0
S to c k in B o m b a y , I n d i a __________ 7 5 9 ,0 0 0
_______
422 ,031
S to c k In U . S. p o r t? . .
S t o c k In U . S . in te rio r to w n s
217 .927
U . S. e x p o r ts t o - d a y _______________
6 ,7 9 3

4 3 3 ,0 0 0

5 3 4 ,0 0 0

1904.
5 3 8 ,0 0 0
10,000
4 3 ,0 0 0
5 9 1 ,0 0 0
2 3 ,0 0 0
1 9 7 ,0 0 0
4 ,0 0 0
156 ,000
3 ,0 0 0
3 0 ,0 0 0
3 6 ,0 0 0
15,000
4 6 4 ,0 0 0

5 ,3 2 7 ,0 0 0 1 ,4 1 3 ,0 0 0 1 ,0 5 5 ,0 0 0
2 2 1 ,0 0 0
8 7 ,0 0 0
146 ,0 0 0
253 ,0 4 4
3 7 5 .0 0 0
7 3 ,0 0 0
1 8 .000
24,0 0 0
25,000
8 7 ,0 0 0
1 5 0 ,0 0 0
126 ,0 0 0
9 3 3 ,0 0 0
9 2 4 ,0 0 0
503 ,0 0 0
3 7 0 ,4 8 3
4 2 4 ,7 4 8
2 27 ,995
229 ,4 0 9
2 50 ,895
129,899
12,5 3 5
28,661
17,214

T o t a l v is ib le s u p p ly ____________ 3 ,9 0 3 .8 2 9 3 ,4 5 1 ,4 7 1 3 ,6 7 7 ,3 0 4 2,30'3,108
O f th e a b o v e , to ta ls o f A m e r ic a n an d o th e r d e s c r ip tio n s are as fo llo w s :
A m e r ica n —
L iv e r p o o l s t o c k - . . .............b a le s . 1 ,0 2 2 ,0 0 0
6 9 3 ,0 0 0
7 3 7 ,0 0 0
4 1 0 ,0 0 0
M a n ch ester s t o c k ________ ________
7 8 ,0 0 0
6 0 ,0 0 0
4 4 ,0 0 0
3 6 ,0 0 0
C on tin en ta l s t o c k _________________
6 1 1 ,0 0 0
3 7 2 ,0 0 0
5 0 2 ,0 0 0
3 5 0 ,0 0 0
A m erica n a floa t fo r E u r o p e _______ 175 ,078
253 ,044
3 75 ,000
7 3 ,0 0 0
U . S. p o r t s to c k
____________ : . . . 422,031
3 70 ,483
4 2 4 ,7 4 8
227,995
U . S . in te rio r s t o c k .......... .............. .. 2 17 .927
229 ,409
250 ,8 9 5 1 2 9 ,8 9 9
U . S. e x p o r ts t o - d a y . ____________
6,9 7 3
12,535
2S.661
17,214
T o ta l A m erica n ________________2 ,5 3 2 ,8 2 9 1 ,990,471 2 ,3 6 2 ,3 0 4 1 .2 4 4 ,1 0 8
E a st In d ia n , B ra zil, & c .—
L iv e r o o o l s t o c k ........ .............................
135 ,0 0 0
115 ,0 0 0
7 4 ,0 0 0
1 2 8 ,0 0 0
15,0 0 0
16,0 0 0
1 3 ,0 0 0
10,0 0 0
L o n d o n s t o c k _______________ ____
M a n ch ester s t o c k ___ __________ ___
12 000
1 0 ,0 0 0
1 1 ,0 0 0
7.0 0 0
8 9 ,0 0 0
6 1 ,0 0 0
3 2 ,0 0 0
114 ,000
C on tin en ta l s t o c k . . . ____________
In d ia a floa t for E u r o p e ....................
2 3 1 ,0 0 0
2 2 1 ,0 0 0
8 7 ,0 0 0
146 ,000
E g y p t , B razil, & c.. a flo a t_____
.
3 3 ,0 0 0
18,000
2 4 ,0 0 0
2 5 ,000
S t o - k in A le x a n d r ia , E g y p t _____
9 7 ,0 0 0
.87,0 00
1 50 ,000
126 ,000
S to c k in B o m b a y , I n d ia _________
7 5 9 ,0 0 0
9 3 3 ,0 0 0
9 2 4 ,0 0 0
5 0 3 ,0 0 0
T o ta l E ast I n d ia , & c . ..................1 ,3 7 1 ,0 0 0 1 ,4 6 1 ,0 0 0 1 ,3 1 5 ,0 0 0 1 ,0 5 9 ,0 0 0
T o t a l A m e r i c a n ________________ 2 ,5 3 2 ,8 2 9 1 ,990,471 2 ,3 6 2 ,3 0 4 1 ,2 4 4 ,1 0 8
T o t a l v isib le s u p p l y ...................... 3 ,9 0 3 ,8 2 9 3,4 5 1 ,4 7 1 3 ,6 7 7 ,3 0 4 2 ,3 0 3 .1 0 8
Mlddlln<r U p la n d , L iv e r p o o l_____
7 .1 9 d .
6 .0 7 d .
4 .8 3 d .
f>.38d.
M id d lin g U p la n d , N ew Y o r k _____
1 3 .1 5 c .
1 1 .2 0 c.
9 .1 5 c .
1 1 .7 0 c .
E g y p t , G o o d B r o w n , L iv e r p o o l. - 11 l -1 6 d .
11 K d .
7 sc;d. 7 l l - 1 6 d .
P eru v ia n R o u g h G o o d , L lv e r n o o l 1 1 .2 5 d . 8 .6 5 d .
1 0 .8 0 d .
1 0 .5 0 d .
B r o a c h , F in e, L i v e r p o o l . . _______
6>£d.
S J id .
4 9 -1 6 d .
^J^d.
T ln n e v e lly , G o o d L i v e r p o o l ,____
53
Ad.
5 9 -1 6 d .
4M d.
5% d.

Continental im ports past week have been 106,000 bales.
The above figures for 1907 show a decrease from last week
of 146,879 bales, a gain of 452,358 bales from 1906, an ex ­
cess of 226,525 bales over 1905 and a gain of 1,600,721
bales over 1904.




------------ j

I

........ . . .

9|
21,657
26
398
75
23,200
90
1,853
Alabama
. .......
“
______
859
175,278 2,595
3,181
346
165,604
3,838 13,643
“
...........
15
107,227
70
545
280
103,047
291
5,773
Arkansas . ___
190!
67,804
292
2,017
2
53,963
24
210
“
______
591 i 240,379 2,228
13,750
291
188,257
2,222 27,731
Georgia
______
________
22,9992 391
1
29,242
60
2,159
___ _____________
...
11
107,067702,796
430
88,427
827
9,6 6 3
“
“
........... ........................
126
142,814701 4,796
255
46,900
1,162
2,925
“
______
1,122
363,366 2,527
14,364
1,012
348,801
4,336 33,801 j
“
........... ........................
150
54,933525 1,671
195
71,999
652 15,011!
“
- - - - ___________
___
56,169137 566
53
58,387
113
4,7 7 0
______
71
53,797 129
4,233
39
43,174
104 3,928;
“
K e n tu c k y , n e t _
61
7,815
86
200
59
7,229
59
50.
L o u is i a n a ______ ..
231
197,097
326
4,556
144
102,901
1,531 4 ,1 1 1 ’
M is s is s ip p i__________________
18
51,466 210
4,147
17
36,717
1,755 1,458;
“
______ _____________65,754
174
1,956
3
42,084
29
542!
“
______ _____________
80,012
500
3,800
_____ 62,885
300 2,000[
“
______
109
96,470 363
2,546
217
72,236
1,229 7,793!
“
______
18
73,713 537
1,531
170
46,993
694
1,879
“
______
117
85,288 936
4,645
7
69,627
95 4,347)
“
-- __
3
55,117
431
1,238
__________ 52,751
17
695*
M is s o u r i .............. ........................
4,069| 787,322 5,95724,967 4,018
523,014
4,415 30,5 2 0
411
18,679
150
356
77
14,249
225
71S
North C a ro lin a ..
O h io __________________________
1,175
142,443 1,7687,5541,737
150,696
2,850 7,999,
South C a ro lin a _
_
21,719
____
70
79
17,166
__________ 5 ,2 6 1 !
T e n n e s s e e ........... ........................
6,401
933,30916,63384,0711,617
791,976
3,002 18,433
“
______
190
19,666 90
1,958
225
12,773
310
670
T e x a s ___________
2
16,69290
825
9
9,206
7
771
“
-----------------------------------------------------39,029
-------------12,540
- ................... ........................................................................
99,567
111
....................
....
80,690
__
33,731
____
___
__ 18,872100SO
“
______________________________________
“
......................
2,71612,913,688 5,20224,799 5,678 2,044,290
6,548 20,442
"
___________
___
96,981
_____
___
__ 66,346100200

.

I’ Ufaula,
M ontgom ery,
Selina,
H elena,
Little R o c k ,
A lb a n y ,
A thens,
A tlanta,
A ugusta,
C olum bus,
M acon,
R om e,
L ou isville,
S h rev ep ort,
Columbus
G reen ville,
G reen w ood ,
M eridian,
N atch ez,
V ick sb u rg ,
Yazoo City,
St. Louis,
R aleigh,
C incinnati,
G reen w ood,
M em phis,
N ashville,
Brenham
Clarksville,
B alias,
Honey G rove,
H ouston,
Paris,

36,986 229 ,409
5,456,042
17,036
217,927
42,606
7,251,048
18,295
.

T otal, 33 t e w n s ............

\
\
!
Shiv- Stoclcs
June
15.

W eek.

15 1906.
14 1907.M ovem ent to June

R eceipts.
ShipStocks R eceipts.
— --------------- --------------------ments.
J u n e -----------ments.
W eek. . Season.
W eek.
14.
W eek.
S eason .

M ovem ent to June

-----------@
---------- —
@
—
—
—

------- @
------- —

-----------@
---------- —

-----------@
---------- —

-----------@
---------- —

-----------@
---------- —

—
—

—
—

— 11.83@
---------- —
— 1 1 . 8 3 @ -------@
---------- —
---------- —
-----------@
---------- —
-----------@
---------- —

------- @
------- —
@
—
—
—

11.8 3 @ 1 1 .9 1 1 1 .8 0 @ 1 2 .2 0
11.81— 11.83 —
—
—
11.80@ 11 .94
1 1 .9 3 — 11.94
11.91@ 12 .05 1 1 .84@ 12 .07
12.0 1 — 12.02 11.88— 11.89
1 2 .00@ 12 .14
1 1 .9 7 — 11.99
12.14@ 12 .20
1 2 .2 2 — 12.24

—
@
— 11.91 @11.92 1 1 . 8 4 @ ------------------- @
-----------@
-----------@
— 1 1 .8 4 @ 1 1 .9 2
1 2 .1 6 — 12.18 11 .9 2 —
— 11.9 4 — 11.96 11.82— 11.84 1 1 .8 7 — 11.89 1 1 .7 5 — 11.77 —
—
—

1 1 .7 2 @ 1 2 .1 4
—
—
—
11.73@ 11 .84
1 1 .7 3 — 11.74
11.8 8 @ 1 2 .0 6 11.80@ 11 .99
1 1 .8 8 —
— 11 .9 2 — 11.93
12.04@ 12 .14
1 2 .1 3 — 12.14

11.74@ 11 .99 1 1 .7 2 @ 1 1 .8 8
11.8 0 — 11.81 1 1 . 8 5 - - 1 1.86

11.63@ 11 .74 l t . 6 0 @ 1 2 .0 3
11.6 3 — 11.64 —
—
—
H .6 0 @ l l .7 8
1 1 .7 4 — 11.75
U .7 1 @ l l .9 0 11.64@ 11 .87
11.82—
— 11 .6 9 — 11.70
11.78@ 11 .95
1 1 .7 8 — 11.79
1 1 .94@ 12 .03
1 2 .0 1 — 12.02

— 1 1 .6 3 @ 1 1 .9 4
1 1 . 7 5 @ 1 1 .7 7 —
@
— 1 1 . 6 3 @ ----------- @
11.76— 11.77 11.68— 11.70 11.7 2 — 11.74 11 .6 1 — 11.63 — . —
—

1 1 .85@ 11 .92
1 1 .7 7 — 11.79
11.93@ 11 .94
1 1 .9 9 — 12.00

Nov.—

T H E V IS IB L E SU P P L Y OF COTTON to-night, as made
up b y cable and telegraph, is as follow s. Foreign stocks?
as well as the afloat, are this week’s returns, and conse"
quently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
to-night (F riday), we add the item of exports from the
United States, including in it the exports of Friday only.

l x x x iv

A T T H E IN T E R IO R TO W N S the m ovem ent— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year— is set out
in detail below.

Range
Closing
D e c .—
Range
Closing
J a n .—
Range
Closing
F e b .—
Range
Closing
M arch —
Range
Closing
A p ril—
Range
Closing
M ay—
Range
Closing

11.63 @11.76 11.61 @ 1 2 .0 3
1 1 .6 3 — 11.64 —
—
—
11.71 @11.92
11.85— 11.86
1 1 .78@ 11 .95
11 .7 8 — 11.79

11.65@ 11 .90 11.61 @11.79
11 .7 0 — 11.71 11.74— 11.75

1 1 .48@ 11 .61 1 1 .4 7 @ 1 1 .8 7
11 .4 7 — 11.48 —
—
—
11.56@ 11 .76 11.53@ 11 .73
11.70— 11.71 11 .5 6 — 11.58
1 1 .66@ 11 .82
11.6 6 — 11.67

1 1.47@ 11 .60
1 1 .5 9 — 11.60

11.55@ 11 .68 1 1 .4 9 @ 1 2 .0 0
11.5 6 — 11.57 —
—
—
11.61@ 11 .80
11.61— 11.62
11.66@ 11 .80
11.7 6 — 11.77
11.7 6 @ 1 1 .9 1
1 1 .7 5 — 11.76

1 1 .49@ 11 .68
1 1 .6 7 — 11.69

11.85@ 11 .96 1 1 .7 9 @ 1 2 .2 5
11 .8 7 — 11.88 —
—
—
1 1 .7 9 @ U -9 2
11 .9 1 — 11.92
11.88@ 12 .07 11.90@ 12 .01
12.0 0 — 12.01 11 .9 2 — 11.93
12.00@ 12 .10
1 2 .0 0 — 12.02

--------------- @
-----------@
— 1 1 .9 0 @ 1 1 .9 8
— 1 1 . 9 0 @ 1 1 .9 8 —
@
— —
@
11 .9 5 — 11.97 11.95— 12.00 11 .8 5 — 11.90 11 .8 5 — 11.90 1 1 .8 2 — 11.87 —
—
—

J u n e—
Range —
@
Closing 1 1 .9 0 — 11.95
J u ly —
Range
11.98@ 12 .25
Closing 1 2 .0 0 — 12.04
A u g u s t—
Range 1 1 .85@ 12 .00
Closing 1 1 .8 9 — 11.90
S e p t.—
Range 11.76@ 11 .87
Closing 1 1 .8 4 — 11.87
O ct.—
Range
11.94@ 12 .03
Closing 1 2 .0 0 — 12.01

Saturday,
June 8.

M on d a y,
June JO.

Tuesday,
June 11.

W ed n esd a y,
June 12.

Thursday,
June 13.

F r id a y ,
June
14.

W eek .

F U T U R E S .— The highest, lowest and closing prices at
New Y ork the past week have been as follows:

[V o l .

.....

THE CHRONICLE.

1436

The above totals show that the interior stocks have de­
creased during the week 24,311 bales, and are to-night
11,482 bales less than at the same time last year. The
receipts at all the towns have been 1,259 bales more than
the same week last year.
O V E R L A N D M OV EM E N T FO R T H E W E E K AN D
SINCE SE PT. 1.— We give below a statement showing
the overland m ovem ent for the week and since Sept. 1,
as made up from telegraphic reports Friday night. The
results for the week and since Sept. 1 in the last tw o years
are as follows:
------- 1 9 0 6 -0 7 -------- ----------------1 9 0 5 -0 6 —
J u n e 14—
S in ce
S in ce
S n ip p ed —
W eek .
S ep t. 1.
W eek .
S ep t. 1.
V ia S t. L o u is .......................................... 5,9 5 7
7 77 ,265
4 ,4 1 5
503 ,270
V ia C a ir o ___________________________
994
212 ,2 5 6
424
198 ,453
V ia R o c k I s la n d ___________________
592
81,545
314
43,842
V ia L o u is v i ll e _____________________
688
83,517
980
98,620
V ia C in c in n a t i_____________________
730
5 2 ,8 4 7
848
56,3 0 0
V ia o th e r r o u te s , & c _______________ 1,3 9 4
425 ,051
2,4 9 8
247,672
T o t a l g ross o v e r la n d ____________ 10,355 1 ,632,481
T~)prtnrt
---O v e rla n d t o N . Y . , B o s t o n , & c . . . 1,378
1 6 2 ,0 3 6
B e tw e e n In te rio r t o w n s ___________
25
9 3 ,149
I n la n d , & c ., fr o m S o u t h __________ 3 ,4 8 6
65,2 4 9
T o t a l t o b e d e d u c t e d ____________

4 ,8 8 9

9,4 7 9 1,1 4 8 ,1 5 7
788
103
3,395

140 ,206
19,534
54,206

3 20 ,434

4,2 8 6

213 ,946

L e a v in g to ta l n e t o v e r l a n d .a ----------- 5 ,4 6 6 1 ,3 1 2 ,0 4 7

5,1 9 3

934 ,211

a I n c lu d in g m o v e m e n t b y rail t o C a n ada.

The foregoing shows the week’s net overland m ovem ent
has been 5,466 bales, against 5,193 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 377,836
bales.
--------- 1 9 0 6 -0 7 ---------- ------------- 1 9 0 5 -0 6 ------ —
I n Sight and S p in n er s ’
S in ce
S in ce
T a kin gs.
W eek .
S en t. 1.
W eek .
S ep t. 1.
R e c e ip ts at p o r ts t o Ju n e 1 4 . .
27,7 7 5
9 ,5 4 8 ,5 8 8
29,8 5 8
7 ,5 1 3 ,1 1 8
N et o v e r la n d t o Ju n e 1 4 ___________
5,4 6 8
1 ,3 1 2 ,0 4 7
5,193
934,211
S o u th e rn c o n s u m p tio n t o Ju n e 1 4 . 4 8 ,0 0 0
1 ,9 4 6 ,0 0 0
4 6 ,0 0 0
1 ,8 9 3 ,0 0 0
T o ta l m a r k e te d ____ . '................ ..
81,241 1 2 ,8 0 6 ,6 3 5
I n te r io r s to c k s In e x c e s s ___________ a 24 ,311
121,651

81,051 1 0 ,3 4 0 .3 2 9
a l9 ,9 5 0
94,232

C am e in t o sigh t d u rin g w e e k —
5 6 ,9 3 0
--------------T o ta l In sigh t Ju n e 1 4 . . ........................ - - - 1 2 ,9 2 8 ,2 8 6

61,101
--------------________ 10,4 3 4 ,5 6 1

N o rth , s p ln n ’ s ta k in g s t o Ju n e 1 4 . 18,154

2 ,5 4 0 ,3 0 8

22,077

2 ,2 5 3 ,8 7 7

a D ecrea se d u rin g w e e k .

M ovem ent into sight in previous years:
W eek —
1 9 0 5 - -June
1 9 0 4 — Jun e
1903— Ju n e
1902— Ju n e

B a les. | S in ce S ep t. 1—
,
1 6 _________ ______ 1! 8,369 j 1 9 0 4 -0 5 — Ju n e 1 6 ................
1 7 ________________ 4 8 ,842 ! 1 9 0 3 -0 4 — Ju n e 1 7 ________ ».7 4 6 ,1 5 5
1 9 ________________ 4 0 ,2 4 1 11 9 0 2 -0 3 — Ju n e 1 9 - - ...........1 0 ' S62 ’ (’ " °
2 0 ____ _ ________ 4 5 ,900| 1 9 0 1 -0 2 — Ju n e 20 ............. 9 ,9 9 3 ,2 2 8

Q U O TA TIO N S FO R M ID D L IN G CO TTO N A T O T H E R
M A R K E T S .— Below are the closing quotations of m iddling
cotton at Southern and other principal cotton markets for
each day of the week:
C losin g Q uotations fo r M id d lin g C otton on
W eek ending
J u n e 14.

S a t'd ay.

M o n d a y . Tuesday. W ed ’ day. T hursd'y. F r id a y .

G a lv e sto n _ . . 1 2 %
13
N ew O rle a n s.
M o b ile .
. . . 12 %
S a v a n n a h . . _ 12 %

13 1-16
13
12%
12%

13 1-16
13
12H
12%

13 1-16
12%
12%
12%

12 15-16
12 15-16
12%
12%

12 15-16
12 15-16
12M
12%

W i l m i n g t o n ___
N o r fo lk ________
B o s to n .
___
B a ltim o re ____
P h ila d e lp h ia . .
A u g u sta .
M e m p h i s _____
S t . L o u is _____
H o u s t o n _______
L ittle R o c k ____

13M
13.25
13 %
13.50
13 %
12)4
12%
13
12%

13%
13.25
13%
13.50
13%
12%
12%
13
12%

13%
13.25
13 %
13.40
13%
12%
12%
13
12%

13%
13.15
13%
13.40
13 %
12%
12%
12 15-16
12 %

13%
13.15
13%
31 .4 0
13%
12%
12%
12 15-16
12%

13%
13.25
13%
13.50
13 %
12 X
12 X
13
12%

,

The closing quotations to-day (Friday) at other im portant
Southern markets were as follow s:
A t la n t a ________ 12 15-16 |M o n t g o m e r y ______ 1 2 % I R a l e i g h _____________ 13 %
C o lu m b u s , G a ___________ |N a s h v i l l e __________ 12
( S h r e v e p o r t ___________ .

N E W O R LE A N S O P T IO N M A R K E T .— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sa t’ d a y , M o n d a y , 7 i :esday, W ed’ day, Thursd’ y, F r id a y ,
J u n e 8 . J u n e 10. J u n e 11. J u n e 12. J u n e 13. J u n e 14.
12.82
12.86

— — @ — — @ — — @
— 12.70 — ■ 12.70 — 12.61

— — @ — — @ —
— 12.72 — 12.70 —

1 3 .0 8 -.1 6 1 3 .0 5 -.1 3 1 2 .9 9 -.0 7 1 2 .9 0 -.0 0 1 2 .8 3 -.9 5 1 2 .9 0 -.9 8
1 3 .1 5 -.1 6 1 3 .0 3 -.0 5 13.02 — 1 2 .9 4 .9 5 1 2 .9 4 -.9 7 12.94 —
— — @
— 12.57

—
— 12.41

O

12.92 — — @ .82 — @ .80 — @
12 .9 0 — 1 2 .6 9 .7 1 1 2 .7 5 -.7 7 12.55

1

Jun e—
Range
C l o s i n g . . ___
J u ly —
R a n g e _______
C lo s in g _______
A u g u s t—
R a n g e _______
C lo s in g ___
O ctober—
R a n g e _______
C l o s i n g . . ___
D ecem b er—
R a n g e ___ __
C lo s in g _______
J an u ary—
R a n g e _______
C lo sin g _______
M arch —
R a n g e _______
C losin g
____
T on e—
S p o t _________
O p tio n s ______

—

1 2 .3 8 -.4 8 1 2 .1 0 -.3 6 1 0 .0 9 -.2 8 1 1 .9 8 -.2 6 1 1 .9 1 -.1 0 1 1 .9 0 -.0 4
1 2 .4 5 -.4 6 1 2 .1 2 -.1 3 1 2 .2 2 -.2 3 1 1 .9 8 -.9 9 1 2 .0 7 -.0 8 1 1 .9 1 -.9 2
1 2 .3 1 -.4 2 1 2 .0 5 -.2 8 12.03-.2 1 1 1 .9 0 -.1 7 1 1 .8 3 -.0 2 1 1 .8 2 -.9 5
1 2 .3 8 -.3 9 1 2 .0 6 -.0 7 12 .1 6 -.1 7 1 1.89-.9 1 1 1 .9 8 -.9 9 1 1 .8 2 -.8 3
1 2 .3 5 -.4 3 1 2 .0 5 -. 29 12.0 5 -.2 1 1 1 .9 0 -.1 6 1 1 .8 3 -.0 2 1 1 .8 3 -.9 7
12.3fl-.40 1 2 .0 5 -.0 6 1 2 .1 6 -.1 7 1 1.90-.9 1 11 .9 8 -.9 9 1 1 .8 3 -.8 4
—

@

— —

F irm .
S te a d y .

@

— —

S te a d y .
S te a d y .

@

— 12.2 1 -.2 5 — @ — 1 2 .0 6 -.0 7
1 1 .9 8 -.0 2 12.0 7 -.1 1 1 1 .9 2 -.9 5

Q u ie t.
S te a d y .

Q u iet.
B a ’ly s’ y

F irm .
S te a d y .

F irm .
S te a d y .

W E A T H E R R E P O R T S B Y T E L E G R A P H .— Our tele­
graphic reports from the South this evening indicate that
the weather has been favorable quite generally the past week.
Rain has fallen in m ost sections, bu t on the whole the pre­
cipitation has been light, and in a number of districts of Texas
dry weather has prevailed. As a rule our advices denote
that the crop is im proving. Boll-weevils are claimed to have
caused some damage in Texas.
Galveston, Texas.— Favorable weather has perm itted
farmers to make good progress in clearing crops and getting
stands. There are complaints com ing in from some sections
of Texas of damage b y boll weevils and in other districts
it is claimed that showers would be beneficial. Rain has
fallen on one day of the week, to an inappreciable extent.
Average thermometer 82, highest 86, lowest 78.
Cuero, Texas.— We have had no rain during the week.
Average thermometer 86, highest 98 and lowest 74.
Dallas, Texas.— We have had excessive rain on one day
during the week, the precipitation being one inch and eightyone hundredths. The thermometer has averaged 80, the
highest being 95 and the lowest 65.
Fort Worth, Texas.— W e have had rain on one day o f the
week, the precipitation being eighty-tw o hundredths of an
inch. The thermometer has averaged 80, ranging from 66
to 94.
Henrietta, Texas.— There has been rain on one day the
past week, the rainfall being forty hundredths. The ther­
m om eter has ranged from 60 to 103, averaging 82.
Huntsville, 7'exas.— We have had no rain during the week.
Average thermomater 85, highest 95 and lowest 74.
Kerrville, Texas.— Rain has fallen lightly on one day of
the week, to the extent of two hundredths o f an inch. The
thermometer has averaged 82, the highest being 93 and the
lowest 70.
Lampasas, Texas.— We have had no rain the past w7eek.
Thermome-ter has averaged 85, ranging from 70 to 99.
Longview, Texas.— We have had no rain during the week.
The thermometer has ranged from 73 to 96, averaging 85.
Luling, Texas.— We have had no rain during the week.
Average thermometer 84, highest 93 and lowest 75.
Nacogdoches, T exas.— We have had no rain the past week.
The thermometer has averaged 82, the highest being 91 and
the lowest 73.
Palestine, Texas.— We have had no rain during the week.
Therm ometer has averaged 82, ranging from 74 to 90.
Paris, T exas.— We have had rain on three days during the
week, the precipitation being ninety hundredths of an inch.
The thermcAneter has ranged from 65 to 92, averaging 79.
San Antonio, Texas.— There has been no rain the past
we»k. Average thermometer 85, highest 96 and lowest 74.




1437

THE CHRONICLE

J u n e 15 1907.]

Weatherford, Texas.— We have had showers on two days
during the week, to the extent of twenty-seven hundredths
of an inch. The thermometer has averaged 82, the highest
being 98 and the lowest 66.
New Orleans, Louisiana.— W e have had rain on tw o days
of the week, the precipitation being tw enty-six hundredths
of an inch. The thermometer has averaged 81.
Shreveport, Louisiana.— There has been no rain the past
week. The thermometer has ranged from 71 to 93.
Leland, M ississippi.— We have had rain during the week,
the rainfall reaching ninety-six hundredths o f an inch.
Average thermometer 74, lowest 87 and low est 60.
Vicksburg, M ississippi.— We have had rain on one day
during the week, the precipitation being tw o inches and
tw enty hundredths. The thermometer has averaged 77,
the highest being 88 and the lowest 65.
Helena, Arkansas.— Condition of cotton is slightly im ­
proved, but the plant is backward. Rain has fallen lightly
on two days of the week, the precipitation reaching thirtyseven hundredths of an inch. The thermometer has averaged
42.6, ranging from 32 to 53.
Little Rock, Arkynsas.— The weather has continued fa­
vorable for farming operations. Cotton is im proving but
t ie plant is still small and about five weeks late. We have
had rain on one day during the week, the precipitation being
eighty-tw o hundredths of an inch. The thermometer has
ranged from 65 to 91, averaging 78.
Nashville, Tennessee.— The weather the past week has been
favorable for crops. We have had rain to the extent of
one inch and forty-three hundredths. The thermometer has
averaged 75, the highest being 91 and the lowest 60.
M emphis, Tennessee.— Continued favorable weather the
past week and crop reports are im proving. We have had
rain on tw o days during the past week, the rainfall being
tw enty-eight hundredths of an inch. Average thermometer
79.2, highest 89.2 and lowest 67.2.
Augusta, Georgia.— We have had rain on three days the
past week, to the extent of fifty-eight hundredths of an inch.
The thermometer has averaged 78, ranging from 56 to 96.
M obile, Alabama.— Weather has been favorable and crop
reports are im proving. We have had rain on two days dur­
ing the week, the rainfall being eight hundredths of an inch.
Thermometer has averaged 79, ranging from 73 to 88.
Montgomery, Alabam a.— Crops are im proving some and
farmers are hard at work conquering grass. There has been
rain on two days of the past week, the rainfall being forty-six
hundredths of an inch. The thermometer has ranged from
66 to 91, averaging 78.
Selma, Alabama.— There has been rain on two days the
past week, the rainfall being one inch. Average therm om e­
ter 76.5, highest 87, lowest 6 6 .
M adison, Florida.— 'We have had light showers on two
days during the week. The therm om eter has averaged 81,
the highest boing 93 and the lowest 70.
Savannah, Georgia.— There has been rain on three days
during the week, the precipitation being one inch and
eighteen hundredths. The therm om eter has ranged from
65 to 96, averaging 79.
Charleston, South Carolina.— Rainfall for the week thirtythree hundredths of an inch, on four days. Average ther­
mom eter 79, highest 90 and lowest 67.
Charlotte, North Carolina.— We have had rain during the
week, the rainfall being one inch. The therm om eter has
ranged from 57 to 85, averaging 71.
The follow ing statement we have also received b y 1el
graph, showing the height of rivers at the ports nam
at 8 a. m . of the dates given:
N ew O r le a n s _________ . A b o v e
M e m p h i s _______________ A b o v e
N a s h v ille --------------------- .A b o v e
S h r e v e p o r t ____________ A b o v e
V i c k s b u r g ______ _______A b o v e

z e ro
z e ro
z e ro
z ero
z e ro

of
of
of
of
of

gauge.
gauge.
gauge.
gauge.
ga u g e

J u n e 1-1 190 7.
F e e t.
1 5 .8
2 6 .6
2 7 .0
2 6 .9
3 7 .5

J u n e 15 100 .
F e e t.
8.5
15.2
8 .0
13.3
2 3 .2

A L E X A N D R IA R E C E IP T S A N D SH IPM E N TS OF
CO TTO N .— Through arrangements made with Messrs.
Choremi, Benachi & C o., of Liverpool and Alexandria, we
now receive a weekly cable of the m ovem ents of cotton at
Alexandria, E gypt. The following are the receipts and
shipments for the past wreek and for the corresponding week
of the previous two years:
A lex a n d ria , F gu p t,
J u n e 12.

190 6-0 7.

190 5-0 6.

1 90 4-0 5.

2,500
6 ,8 5 2 ,9 9 0

1 600
5,8 6 8 ,1 0 7

16,0 0 0
6 ,1 8 2 ,1 7 1

T h is
S in ce
v je ek . |S ep t. 1.

S in ce
T h is
w ee k . S ep t. 1.

Since
T h is
w eek . S ep t. 1.

750 192,697
163 ,849
2 ,7 5 6 308 ,74 4
100 67 ,736

3,5 0 0 206 ,687
143 ,402
8,# 0 0 294 ,740
600 67,7 4 7

R eceip ts (ca n ta rs a) —
S in ce S e p t. 1 ___________

E x p o rt (b a le s ' 6—
T o L iv e r p o o l_____________
T o C o n t i n e n t ____________

1 ,?5 0
3 .0 0 0
6 .0 0 0
1,760

206,1 87
193,477
329 ,906
lOS.S'Sg

3,6 0 0 7 3 3 ,0 2 6 1 2,180 7 12 ,576
12,500 838,409
1
a A ca n ta r Is a b o u t 99 lb s . b E g y p tia n b a le s w e ig h a b o u t 750 lb s.
T * ta l e x p o r t s ___ . . . .

JU T E B U TTS, B A G G IN G , E T C .— The demand for jute
bagging has been strictly moderate during the week under
review7, but prices are firm at 9 ^ c . f o r 2 lbs., standard grades.
Jute butts dull at 3 @ 4 c . for bagging quality.

143*

THE CHRONICLE.

W O R L D ’ S SU P P L Y A N D T A K IN G S OF C O TTO N .—
The following brief but comprehensive statement indicates
at a glance the w orld’s supply of cotton for the week and
since Sept. 1, for the last two seasons, from all sources from
which statistics are obtainable; also the takings, or amount
gone out of sight, for the like period.
1 90 6-0 7.

C o tto n T a k in g s .
W e e k a n d S ea son .

W eek .

190 5-0 6.

S eason .

4 ,0 5 0 ,7 0 8
V isib le s u p p ly S e p t. 1 ___________
A m e r ic a n in sig h t t o Jun e 14 ___
B o m b a y r e c e ip ts t o Ju n e 1 3 ____
O th er In d ia s h ip ’ts t o Ju n e 1 3 _ .
A le x a n d r ia receip ts t o Ju n e 1 2 . .
O th er s u p p ly t o Ju n e 1 2 . a ______

W eek .

1,7 8 4 ,1 5 6
56,930 12,9 2 8 ,2 8 6
5 8.000 2,7 6 3 ,0 0 0
1 9.000
3 43 .000
500
9 14 .000
15.000
3 21 .000

S ea so n .

2,545",470
" 6 1 'i d l 1 0 ,434,561
2 4.000 2 ,4 6 2 ,0 0 0
1 8.000
2 92 .000
7 82 ,400
400
10,000
4 48 .000

. . . ____ 3,9 0 3 ,8 2 9

T o t a l ta k in g s t o Jun e 14 ____ __
O f w h ich A m e rica n
________
O f w h ich o th e r
. . . ._

3 ,9 0 3 ,8 2 9 3,451,471

2 9 6 ,3 0 9 1 5 ,1 4 9 ,6 1 3
1 77 ,809 11 , .9 3 ,6 1 3
118 ,500 3 ,8 5 6 ,0 0 0

3 ,4 5 1 ,4 7 1

261,299 1 3 ,5 1 2 ,9 6 0
2 15 ,899 1 0 ,0 8 2 ,5 6 0
4 5 ,400 3 ,4 3 0 ,4 0 0

a E m b ra ce s receip ts in E u ro p e fro m B razil, S m y r n a , W est I n d ie s , & c.

E U R O P E A N COTTON CO NSUM PTION TO JU N E 1.—
B y cable to-day we have Mr. Ellison’s cotton figures brought
down to June 1. W e give also revised totals for last year
that comparison m ay be m ade. The spinners’ takings in
actual bales and pounds have been as follow s:
O ct. 1 to J u n e 1.

Great B rita in .

C o n tin en t.

T otal.

F or 1906=07.
T a k in g s b y sp in n e r s ______b a le s .
3 ,0 5 2 ,0 0 0
7 ,8 4 3 ,0 0 0
4 ,7 9 1 ,0 0 0
A v e r a g e w e ig h t o f b a le s ___ l b s .
502
480
4 8 8 .6
T a k in g s in p o u n d s ..
_______ 1 ,5 3 2 ,1 0 4 ,0 0 0 2 ,2 9 9 ,7 8 0 ,0 0 0 3 ,8 3 1 ,8 8 4 ,0 0 0
F or 1 9 0 5 -0 6 .
T a k in g s b y s p in n e r s .
. _ b a le s .
A v e ra g e w e ig h t o f b a le s ____ l b s .

2 ,8 7 3 ,0 0 0
6 ,8 4 6 ,0 0 0
3 ,9 7 3 ,0 0 0
497
4 8 7 .7
481
1 ,4 2 7 ,6 8 1 ,0 0 0 1 ,9 1 1 ,0 1 3 ,0 0 0 3 ,3 3 8 ,6 9 4 ,0 0 0

According to the above, the average weight of the deliverie
in Great Britain is 502 pounds per bale this season agains
497 pounds during the same tim e last season. The C on ti­
nental deliveries average 480 pounds, against 481 pounds last
year, and for the whole of Europe the deliveries average
488.6 pounds per bale, against 487.7 pounds last season.
Our dispatch also gives the full m ovem ent for this year and
last year in bales of 500 pounds.
19 0 5 -0 6 .
B a les of 500 lbs. each.
0 0 0 s om itted.

Great C o n ti­
B rita in nent.

G reat C o n ti­
Total. B rita in n ent.

Total.

S p in n ers ’ s t o c k O c t . 1 . . . - T a k in g s t o Ju n e 1 ______
_ .

253
3,0 6 4

556
4 ,6 0 0

809
7 ,6 6 4

256
2 ,8 5 5

621
3,8 2 2

877
6,6 7 7

S u p p ly
_______ ___________ .
C o n s u m p t io n , 35 w e e k s _______

3,3 1 7
2 ,6 4 4

5,156
3,675

8,473
6,3 1 9

3,111
2 ,5 9 0

4,4 4 3
3,535

7,554
6,1 2 5

S p in n ers’ s t o c k Ju n e 1 . ______

673

1,481

2,154

521

908

1,4 2 9

W eek ly C on su m p tio n ,
000s om itted.
O c to b e r ___ ______ __ ____
N o v e m b e r ____ __
_______
D e c e m b e r ___ _____ __________
J a n u a ry . . . _____________
F e b r u a r y ___________________
M arch _______ __________
A p r il _ . _________
______
M a y . . . . . . ____________

74
74
75
75
76
76
77
77

105
105
105
105
105
105
105
105

179
179
180
180
181
181
182
182

74
74
74
74
74
74
74
74

101
101
101
101
101
101
101
101

175
175
175
175
175
175
175
175

In
In
In
In
In
In
In
In

The foregoing shows that the w eekly consum ption is now
182,000 bales of 500 pounds each, against 175,000 bales of
like weights at the corresponding time last year. The total
spinners’ stocks in Great Britain and on the Continent have
increased 6,000 bales during the m onth and are now 725,000
bales more than at the same time last season.

1907.

May
3
10
17
134
31
June
7
14

J u n e 13.

190 6-0 7.
1 S in ce
W eek . | S e p t. 1.

W eek .

5 8 ,0 0 0 <2,763,000

24,0 0 0 2 ,4 6 2 ,0 0 0

1 90 5-0 6.
S in ce
S ep t. 1.

d.
d.
10
@ 11 %
10 %
® 11H
10 Vi
@ 11%
10V*
@
11*4
10 15-16 © 1 2 a

1 S in ce
S ep t. 1.

s.
6
6
6
6
7

10 3
10 2

8)4 tbs. Shirt­ c o m
ings, common M id
lo finest.
UpVs

32s Cop.
Twist.

d
s. d. d. d.
10 @ 9 11 6.63
10 H <® 10 0 6.75 9
11 @
10 0 6.96 9V*
11 @
10 0 7.10 9 V*
00 @ 10 1 Vi 7.40 9Vk

11H
@ 12H 7 01 @
11 1-16 @ 12 K 7 0 0 ^ ®

7.44 9 VS
7.19 9M

@
@
@
@
@

d.
10H
10ki
10%
m *
10H

s.
6
6
6
6
6

@
@

10>K 6
10Vi 6

d.
s. d.
6H @ 9 7H
6H @ 9 7H
7 @9 8
7M @9 9
7H @ 9 9
9
9

7Vi @ 9
8 @9

d.
6.08
6.18
6.25
6.20
6.02
6.01
6.07

Dom estic E xports of Cotton Manufactures on page 1408.
S H IP P IN G N E W S .— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 35,424 bales.
The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
Total bales.
N E W Y O R K — T o L iv e r p o o l— Ju n e 12— B o v ic , 2 ,1 4 0 ____ Ju n e 13—
B a ltic , 1,719 u p la n d , 369 fo r e ig n ________________________________ 4,2 2 8
T o H u ll— J u n e 11— C on su e lo , 1 0 0 _________________________________
100
T o L o n d o n — J u n e 8— M in n e a p o lis, 1 4 8 ____________________________
148
T o H a v r e — Ju n e 7— H u d s o n , 9 Sea Is la n d , 56 fo r e ig n ___________
65
T o M arseilles— J u n e 12— R h o d e s ia n , 1 ,8 0 0 __________- - __________ 1,8 0 0
T o B re m e n — Ju n e 10— B a rb arossa , 4 7 3 ___________________________
473
T o H a m b u rg — Ju n e 7— P re to ria , 2 4 _______________________________
24
T o A n tw e r p — Ju n e 8— V a d erla n d , 2 4 4 ____________________________
244
T o B a rce lo n a — Ju n e 10— W e s to n b y , 7 0 3 _________________________
703
T o G en oa— Ju n e 8— R e g in a d ’ lta lia , 275; V ir g in ia , 3 0 0 __________
575
T o N a p les— Ju n e 7— N eck a r, 1 0 0 ____ Ju n e 8— V irg in ia , 5 0 ______
150
G A L V E S T O N — -To H a m b u r g — Ju n e 10— S t. J a n , 7 7 6 ________________
776
N E W O R L E A N S — T o L iv e r p o o l— Ju n e 7— A n tillia n , 2 ,1 3 5 __________2,135
T o B e lfa s t— Ju n e 7— R a th lln H e a d , 9 4 5 ___________________________
945
T o B rem en — Ju n e 12— M a n h a tta n , 5 ,0 0 0 _________________________ 5 ,0 0 0
T o A n tw e r p — Ju n e 12— M a n h a tta n , 8 1 4 ___________________________
814
S A V A N N A H — T o H a m b u r g — Ju n e 8— R e c t a , 1 0 0____________________
100
T o B a rce lo n a — J u n o 12— M arianne, 5 ,2 6 8 ________________________ 5,268
T o G en oa— Jun e 12— M arianne, 1 0 0 _______________________________
100
T o N aples— Ju n e 12— M aria n n e, 2 0 0 _______________________________
200
T o T rieste— Ju n e 12— M aria n n e, 3 3 6 _______________________________
336
T o V e n ic e — Ju n e 12— M aria n n e, 3 5 ________________________________
35
B O S T O N — T o L iv e r p o o l— Ju n e 10— S a x o n ia , 1 ,6 4 8 __________________ 1,648
T o M an ch ester— Ju n e 7 — Ib e ria n , 1 ,0 2 7 ___________________________ 1,027
T o H a m b u rg — Ju n e 11— S w a k o p m u n d , 3 _________________________
3
50
T o Y a r m o u t h — Ju n e 8— P r in c e G e o rg e , 5 0 ________________________
B A L T I M O R E — T o L iv e r p o o l— J u n e 7— T e m p le m o r e , 1 ,5 0 7 ________ 1,507
T o B re m e n — Jun e 8— G era, 7 7 ____ J u n e 11— D a r m s ta d t, 4 5 0 . .
527
S A N F R A N C I S C O — T o J a p a n — Ju n e 11— A s ia , 1 ,2 3 7 _______________ 1,237
S E A T T L E — T o J a p a n — Ju n e 11— K a g a M aru , 2 ,2 6 1 __________________2,261
T A C O M A — T o J a p a n — Ju n e 11— Y a n g ts z e , 2 ,9 4 5 ------------------------------- 2,945
T o t a l ...................................................... .................................................................. .3 5 , 4 2 4

The particulars of the foregoing shipments for the week,
arranged in our usual form , are as follows:
G reat F r e n c h Ger
—Oth .E u ro p e — - M e x .,
B rita in .
p orts, m an y. N orth . S ou th . & c. J a p a n .
____
1,672
1 ,8 6 5
497
N ew Y o r k ______4,4 7 6
G a l v e s t o n ______ ____
____
776
N ew O rle a n s ___ 3,0 8 0
____
5 ,0 0 0
S a v a n n a h ______ ____
____
100
5 ,9 3 9
................. ..
B o s to n ________ 2,675
____
3
------50
...
____
527
B a l t i m o r e ______1,507
S an F r a n c i s c o - . ____
1,237
S e a ttle ________
____
2,261
T a c o m a ________
____
2,945
T o t a l . . . ____ 11,738

1,865

6,9 0 3

814

7,611

50 6 ,4 4 3

T otal.
8,510
776
8,8 9 4
6,0 3 9
2 ,7 2 8
2,0 3 4
1,2.37
2,261
2,945
3 5 ,4 2 4

The exports to Japan since Sept. 1 have been 217,124 bales
from Pacific ports, 10,000 bales from Galveston and 3,971
bales from New Y ork.
Cotton freights at New Y ork the past week have been as
follows, quotations being in d en ts per 100 lbs.

190 4-0 5.
W eek .

1906.

8M lbs. Shirt­ Corn
ings, common
M id
to finest.
Upl’s

32s Cop.
Twist.

IN D IA COTTON M OVEM ENT FRO M A L L P O R T S .—
The receipts of cotton at Bom bay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:

R eceipts at—

.

l x x x iy

M A N C H E STE R M A R K E T .— Our report received b y
cable to-night from Manchester states that the m arket
is dull for yarns and quiet for shirtings. Merchants are
buying very sparingly. W e give the prices for to-da y be­
low and leave those for previous Aveeks of this and last
year for comparison.

3 ,5 9 9 ,2 6 9

4 ,2 0 0 ,1 3 8 1 9 ,0 5 3 ,4 4 2 3 ,7 1 2 ,7 7 0 16,964,431
D ed u ct—
V isib le s u p p ly Ju n e 14

[V o l .

G en oa

5 7,0 0 0 2,451 ,000

S a t.
17
c.
16
c.
c. a 25
18
c.
18
c.
25
c.
31
,c.
30
.c.
x.
c. 2 6 © 2 7
18
32
c.
45
c.

Mo “
17
16
a25
18
18
25
31
30

T u es.
17
16
a25
18
18
25
31
30

W ed .
17
16
a25
18
18
25
31
30

T h u rs.
17
16
a25
18
18
25
31
30 *

F r i.
17
16
a25
18
18.
25
31
30

26@ 27
18
32
45

26 @ 2 7
18
32
45

2 6 @ 27
18
32
45

2 6 @ 27
18
32
45

26 @ 2 7
18
32
45

a And 5 % .
F o r the W eek .

S in ce S eptem ber 1.

E x p o r ts fro m —
Great
B ritain .
B om bay—
1 9 0 6 -0 7 . . ................
1905-06 . .
1 9 0 4 -0 5 _______
C a lc u tta —
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 ........ .........
1904-05.. ________
M a d ia s —
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 ___________
1 9 0 4 -0 5 ___________
A ll o th e r s —
19 0 6 -0 7 ___________
1 9 0 5 -0 6 ___________
T o t a l all —
1 9 0 6 -0 7 ___________
1 9 0 5 -0 6 __________
1 9 0 4 - 0 5 . - . .............




3,000

C o n ti­
nent.

T o ta l.

2 4 ,000
23,000
5 ,0 0 0

24,0 0 0
26,0 0 0
5,0 0 0

4 ,0 0 0
3,0 0 0
3,0 0 0

4,000
3,000
3,0 0 0

7 ,0 0 0
5,0 0 0
2,0 0 0

109 ,0 0 0
100 ,0 0 0
31,0 0 0

116 ,000
105 ,000
3 3 ,0 0 0

1,000
1,000

4 ,0 0 0
3,000
3,000

22,0 0 0
36,0 0 0
13,0 0 0

26 ,0 0 0
3 9 ,0 0 0
16,0 0 0

192,000
133 ,000
175 ,000

2 0 1 ,0 0 0
148 ,0 0 0
183 ,0 0 0

1,000
1,000

Great
B rita in .

C o n ti­
n ent.

T otal.

59,0 0 0 1,0 3 0 ,0 0 0 1 ,0 8 9 ,0 0 0
54,0 0 0
7 8 6 ,0 0 0
8 4 0 ,0 0 0
19 000
3 3 2 ,0 0 0
3 1 3 ,0 0 0

1,000
____
-------

13,000
14,000
1 1,000

14,000
14,000
11,000

9,000
15,000
8 ,0 0 0

2,0 0 0
4,0 0 0

4 1 ,0 0 0
4 0 ,0 0 0
1 9 ,000

43,0 0 0
4 4 ,0 0 0
19,000

7 9 ,0 0 0 1,3 5 3 ,0 0 0 1 ,4 3 2 ,0 0 0
77,0 0 0 1 ,0 5 5 ,0 0 0 ) ,1 3 ? 000
3 2,0 0 0
532 ,000
564 ,0 0 0

L IV E R P O O L .— By cable from Liverpool we have the fo l­
lowing statement of the w eek’s sales, stocks, & c., at that port:
Ma// 22.
Sales o f th e w e e k .............b a le s .
13 000
O f w h ich sp e cu la to rs t o o k .
500
O f w h ich e x p o r te r s t o o k . .
900
Sales, A m e r ic a n _____ ______ _
1 1 ,0 0 0
4 ,0 0 0
A ctu a l e x p o r t --------------------------P 'o r w a r d e d _______ _____________
6 0 ,0 0 0
T o t a l s t o c k — E s tim a te d ______1 ,2 2 6 ,0 0 0
O f w h ich A m e r ic a n — E s t - .1 .0 8 9 ,0 0 0
T o ta l Im p ort o f th e w e e k ______
7 6 ,0 0 0
O f w h ich A m e r ic a n ...............
5 5 ,0 0 0
A m o u n t a i l o a t l ________________
1 2 2 ,0 0 0
8 9 ,0 0 0
O f w h ich A m e r ic a n ________

Mai/ 31.
June 7.
J u n e 14.
3 1 ,0 0 0
3 0 ,0 0 0
35.0 0 0
1,0 0 0 1,0 0 0
___________
1,000 2,0 0 0
____________
2 4 ,000
2 5 ,0 0 0
2 8 ,0 0 0
1 3 ,000
8 ,0 0 0
7 ,0 0 0
6 9 ,0 0 0
7 5 ,0 0 0
6 3 ,0 0 0
1 ,2 2 2 ,0 0 0
1 ,1 9 0 ,0 0 0 * 1 ,1 5 7 ,0 0 0
1 ,0 9 5 ,0 0 0
1 ,0 5 6 ,0 0 0 1 ,0 2 2 ,0 0 0
7 3 .0 0 0
5 1 ,0 0 0
3 2 ,0 0 0
6 9 ,0 0 0
3 0 ,0 0 0
18,000
120 ,000
1 3 5 ,9 0 0
117 ,000
6 5 ,0 0 0
7 6 ,0 0 0
73,0 0 0

• A d ju s t e d ; 5 ,0 0 0 b a le s W e s t In d ia n a d d e d .

The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:

Spot.
M arkt,
12:15
P. M.

Saturday.
}
!■
J

D ull.'

M onday.
Irregular.

Tuesday.

Wed'day.

Thursday.

Friday.

Dull.

Fair
business
doing.

Fair
business
doing.

Fair
business
doing.

M id .U pl’ds

7.50

7.47

7.22

7.26

7.13

7.19

S a les _____
Spec.& exp.

3,000
300

4,000
400

4,000
400

6,000
500

6,000
1,500

5,000
500

Steady at
Futures.
Market
1 7 @ 8 pts.
opened
J advance.
Market,
4
P. M.

1
}
J

Quiet at
7% @10
pts. adv.

Quiet at
3 @ 4 pts.
decline.

Quiet at
4 points
decline.

Quiet at
7 points
advance.

Easy at
14 @ 18%
pts. dec.

Quiet at
4% @ 6 %
pts. dec.

Quiet at
4% @ 5 %
pts. adv.

Quiet at
9 points
decline.

Steady at
3 points
advance.

B’ly st’y at Quiet at
9 % @ 10%
1% @ 5
pts. dec.
pts. adv.

The prices of futures at Liverpool for each day are given
below . Prices are on the basis of Uplands, G ood Ordinary
clause, unless otherwise stated.
The p rices are given in p en ce and lOOths.
Sat.
June S
to
Ju n e 14.

12%
p .m .

12 %
p .m .
d.

Ju n e
J u n e -J u ly
J u ly -A u g .
A u g .-S e p .
S e p .-O c t .
O c t .- N o v .
N o v .-D e c .
D e c .- J a n .
J a n .- F e b .
F e b .-M ch .
M c h .-A p r .
A p r .-M a y

____
____
____
____
____

-------

7
6
6
6
6
6
6
6
6
6
6
6

d.
03%
92
89%
81%
74
64%
60
58
56
56
56%
57%

1439

THE CHRONICLE

J u n e 15 1 9 0 7 . |

M on.

T u es.

T h us: 7 03 m eans 7 3-100rf.
W ed.

T h u rs.

Fri.

4
12 %
4
4
12%
4
4
12%
12%
12%
p .m . p .m . p .m . p .m J p .m . p .m . p .m . p .m . p .m . p .m .
a.
03
92
89
80
72
62%
58%
56%
54%
55
55
56

d.
85
75
72%
63%
58%
49
46
44
42
42
42%
43%

d.
80
69%
66%
57%
52
42%
39
37
35%
36
36
37

d.
80 %
69 %
67
58
52 %
43
39 %
37 %
36
36
36%
37 %

i d.
84
'72 %
70
61
55
46
'42 %
40%
39
39
40
;41

d.
86
74%
72
63
57
48
44%
42%
41
41 %
42
43

d.
75
62%
60
52
46
37%
33%
31%
30
;3 0 %
31
32

d.
76%
64
61%
53
47
38%
35
33
31%
32
32%
33

d.
81
68%
66
58
51%
43
39
37%
36
36%
37
38

d.
81
68
66
58
49
40%
36%
35
33%
34
34%
35%

BREADSTUFFS.

weather of late has been warmer, as a rule, with more sun­
shine, and there is believed to be still plenty of time for the
crop to catch up. The receipts, furthermore, have been
large, country acceptances have increased at times and the
cash demand has been dull at easier prices. Contract stocks
at Chicago, however, continue small, and this fact has
tended to restrict short selling. To-day prices declined on
the weakness of wheat, favorable weather and liquidation.
D A I L Y C L O S IN G P R I C E S ;O F N O . 2 M I X E D
S a t. M o n .
64%
Cash c o r n . . .................... .............. .............. 6 4 %
J u ly d e liv e ry In e le v a t o r ____________ 62
62
S e p te m b e r d e liv e ry In e le v a t o r ______62
62

CORN
T u es.
64
61 %
60%

IN N E W Y O R K .
W e d . T h u rs.
F ri.
64
62
62
61%
61
60%
61%
60%
60%

D A I L Y C L O S IN G P R I C E S O F C O R N F U T U R E S
S a t.
M o n . T u es.
53%
53
J u ly d e liv e ry in e le v a t o r ____________ 54
S e p te m b e r d e liv e ry in e le v a t o r ______54
53%
53%
D e ce m b e r d e liv e ry in e le v a to r _______ 52
52%
51

IN C H IC A Q O .
W ed . T h u rs.
F ri.
52%
52%
51%
52%
52%
51%
51
51%
50%

Oats for future delivery in the Western m arket have de­
clined sharpiy, owing m ainly to heavy liquidation attributed
to interests recently prominent on the long side of the market.
Then, too, bears have shown more aggressiveness, the cash
trade has been dull, and some of the private crop reports
have been more favorable. The G overnm ent report on the
10th inst. was better than expected, stating the condition
on June 1 at 8 1 .6 % , against 8 5 .9 % a year ago. The
acreage, however, is about 1,500,000 acres larger than the
area harvested last season. This report was taken to indi­
cate a yield of 979,370,000 bushels, against 964,904,522 last
year. T o-day prices were easier on further liquidation.
D A I L Y C L O S IN G P R I C E S O F O A T S IN N E W Y O R K .
S a t.
M on.
T u es. W ed . T h u rs.
F ri.
M ix e d , 26 t o 32 lb s ________
50
50
48%
48%
48%
49
W h ite c lip p e d , 36 t o 38 ib s 5 1 -5 3 % 5 1 -5 3 % 5 0 % -5 2 % 49-51 49-51 49-51 %
D A I L Y C L O S IN G P R I C E S O F N O . 2
S a t.
J u ly d e liv e ry In e le v a t o r ____________ 46
S e p te m b e r d e liv e ry In e le v a t o r ______38
D e ce m b e r d e liv e ry in e l e v a t o r _____ 3 8 %

M I X E D O A T S IN C H IC A Q O .
M o n . T u es. W e d . T h urs.
F r i.
44%
42%
42
42%
42%
37%
35%
35%
35%
35%
38%
36%
36
36%
36

Friday, June 14 1907.
Prices for wheat flour have declined as a rule, influenced
The following are closing quotations:
mainly by the break in wheat quotations and the im proved
FLOUR.
crop outlook in this country; but the continued dulness of L o w g r a d e s ______________$3 1 0 @ $ 3 50 K an sas s tr a ig h ts _______ $4 50 @ $ 4 70
trade has also contributed to the depression. Buyers show S e c o n d cle a rs___________ 2 90 @ 3 00 K a n sa s c le a rs________ 3 60 @ 3 90
................................... 3 7 5 @ 4 25 B le n d e d p a t e n t s ________ _5 40 @ 5 90
little inclination to take more than enough flour to satisfy Clears
S tra ig h ts________________ 4 40 @ 4 60 R y e flo u r ________________ _4 75 @ 5 00
immediate requirements, while export trade has continued P a te n t, s p r in g __________ 5 00 @ 5 85 B u ck w h e a t flo u r _______ _N o m in a l.
te n t, w in te r __________ 4 9 0 @ 5 15 G ra h am flo u r ___________ _N o m in a l.
at a standstill. R eports from the large milling centres of PKaan
sas p a te n ts ________ ____________ C o r n m e a l _______________ _3 2 0 @
___
the Northwest and the Southwest, as well as from the W est,
G R A IN .
show that trade there has also been on a very restricted scale.
W h e a t , p e r b u s h .—
c.
I C orn , p e r b u s h .Corn meal and rye flour have been quiet and steady.
N . D u lu th , N o . 1 ___________ 1 0 4 % [ N o . 2 m ix e d ___________ f . o . b . 62
N . D u lu th , N o . 2 ____ f . o . b . 1 0 3 % I N o . 2 y e llo w , n e w ____ f . o . b . 6 1 %
W heat has declined sharply, owing to better weather,
R e d w in te r, N o . 2 ____ f .o . b . 9 7 %
N o . 2 w h ite , n e w ______ f . o . b . 6 1 %
more favorable crop accounts and liquidation both at home
H a rd
“
“
____ f .o . b . 9 9 % R y e , p e r b u s h .—
N o . 2 W e s t e r n ------------- N o m in a l,
and abroad. The Governm ent report which was issued on O a ts— p e r bu sh el—
N o . 2 w h ite ____________ 4 8 % @ 5 0
S ta te a n d J e r s e y _______ N o m in a l.
June 10 was not so unfavorable as had been expected. It
N o . 2 m i x e d ___________
49
B a rle y — W e s t e r n ________ N o m in a l.
N o . 2 w h ite , c l i p p e d . .
49© 51%
gave the condition of winter wheat on June 1 as 7 7 .4 % ,
F e e d in g ------------------------- N o m in a l.
against 82.9 on May 1 this year and 82.7 on Juno 1 last year.
A G R IC U L T U R A L D E P A R T M E N T R E P O R T ON CE­
The acreage was stated as 28,132,000 acres, against 29,623.000 last year. The crop, on this basis, is estimated at R E A L S , E T C .— The report of the Departm ent of Agriculture,
379.782.000 bushels, against 492,888,004 last year and 428,- showing the condition of the cereal crops on June 1, was
462,834 the year before.
The spring-wheat condition was issued on the 10th inst., and is as follows:
given as 8 8 .7 % , against 93 last year, which was taken to
The Crop Reporting Board o f the Bureau o f Statistics of the Department o f
finds, from the reports of the correspondents and agents of the Bureau,
mean a crop of 255,192,000 bushels, against 242,372,966 last Agriculture
as follows:
year and 264,516,655 the year before. The total crop is
Preliminary returns on the acreage of spring wheat sown indicate an area of about
16,464,000 acres, a decrease of 1,242,000 acres, or 7 % , as com pared with the final
thus estimated at 634,974,000 bushels, against the final estimate
of the acreage sown last year (17,706,000).
yield last year of 735,260,000 bushels and in the year before
The average condition of spring wheat on June 1. was 88.7, as com pared w ith 93.4
692.979.000 bushels. Some of the very large Western oper­ at the corresponding date last year, 93.7 on June 1 1905 and a ten-year average
93.3.
ators, having recently sold out their “ lon g” holdings, took of The
average condition of winter wheat on June 1 was 77.4, as com pared with
the opposite tack anti have recently been endeavoring to de­ 82.9 on May 1 1907. 82.7 on June 1 1906, 85.5 on June 1 1905 and a ten-year
of 81.1.
press the market. Favored b y the better weather and the average
The following table shows for the principal wheat States the acreage com pared with,
more cheerful character of the crop advices, both at home last year, and the condition on June 1 in each o f the last four years, with a tenand abroad, they have had considerable success. On year average:
A C R E A G E A N D CO N D ITIO N O F W H E A T ON JU N E 1.
W ednesday prices fell about 3 cents. In fact, the general
trend of prices has been downward ever since the Government
1906.
1904.
Ten1907.
1905.
report appeared, as it showed that conditions in the belt
year
were better than had been generally supposed. Further­
Con­
Con­
Con­
Con­
A v ’ge
di­ Acre­ di­ Acre­ di­ Acre­ di­ A crc- Condi­
m ore, the w orld’s shipments were very large and the foreign
tion. age.
tion. age.
tion. age.
tion.\ age.
tion.
markets have been declining. Private advices from the
60 > 5,645 74
5,290 84
5,132 78
4,990
81
Northwest have been more favorable. The Kansas State re­ K a n s a s ________
C a liforn ia.........
1,572 78
1,886 80
75
1,368 85
1,618
77
port was not very cheerful, but it has been offset by the con­ O h i o __________
80
1,883 55
1,882 86
2,117 95
1,527
77
2,323 94
1,932 58
78
2,362 80
1,361
72
ditions elsewhere in the belt. A bout the only new bullish I n d i a n a ............
Pennsylvania . _
1,643 94
1,629 75
1,550
92
1,618 91
87
feature has been some increase in the export demand. The Illinois_________
1,976 SO
1,872 81
89
1,561
2.22S 78
71
2,260 85
84
2,144 84
2,322
79
2,2 )3 78
crop estimates show, too, that the yield in this country this M isso u ri______
Michigan
______
1,042
54
701
75
878
75
95
1,027
73
season is likely to be fully 100,000,000 bushels smaller than Texas _________
44
1,249 72
81
38(1 87
1,228 76
1,167
that of last year, and though the European outlook has im ­ Oklahoma ____
60
803 90
1,285
89
1,333 75
1,435 67
83
78
882 83
809
779
871 81
proved som ewhat, it appears to be taken for granted that its Tennessee______
K e n tu c k y .........
83
819 92
780 52
87
731
645
production will be rather less than that of last year. To-day Virginia ..............
92
711
84
655
745 87
738 82
M a ryla n d ______
92
771
89
777
806 91
810 98
prices gave way again under continued favorable weather, New
Y o r k ......... .
491 71
79
416
468 94
475
87
crop reports of a more cheerful character and some decline in Other winter.................. - 5,700 - 5,373
5,394 - 5,381 - Liverpool, where cargoes off coast were reported to be offered
Total winter w heat. 77.4 28.132 82.7 29,600 85.5 29,864 77.7 26,866
81.1
more freely. The Continental markets, however, were no­
M innesota____________ 86
5,446 92
4,607 91
5,119 92
5,334
ticeably steady.
93
D A I L Y C L O S IN G P R I C E S O F
Sat.
N o . 2 red w in t e r ________ 1 0 2 %
J u ly d e liv e ry In e le v a to r . 1 0 4 %
S e p t. d e liv e ry In e le v a to r 104 %
D e c . d e liv e ry in e le v a to r . 106 %

W H E A T F U T U R E S IN N E W Y O R K
T u es.
M on.
W ed .
T h urs.
F r i.
102 %
99%
96%
98
97%
104%
98%
101%
100
98
104%
102
99%
100 %
98%
105%
103%
101%
102%
100%

D A I L Y C L O S IN G P R I C E S < F W H E A T F U T U R E S IN C H I C A Q O .
M on.
T u es.
W ed .
F r i.
T h urs.
T , j
,
S a tJ u ly d e liv e ry in e le v a to r . 06 %
95%
90%
93%
89%
91%
S e p t. d e liv e ry In e le v a to r 99 %
98%
95%
92%
94%
92
D e c . d e liv e ry In e le v a to r . 100 %
99%
97%
94%
93%
96%

Indian corn futures have declined, owing to the sharp re­
action in wheat and oats and general liquidation. The
<?rop i§ undoubtedly backward in many sections, but the




North Dakota...............
South D akota________
N e b ra sk a_____ ______
I o w a ________________
Oregon ........................ .
W ash in gton ................ .
Wisconsin ___________
Other spring_________

90
90
82
87
89
96
86
--

5,513
2,881
*322
*504
*334
*S94
*203
1,206

Total spring wheat.

88.7 16,464

Total all ........................

44,596

Per cent of increase or
decrease in acreage.

5.7

95
95
95

92
--

5,992
3,131
*335
*520
*348
*877
*225
859

93.4 17,706
--

47,306
1.1

95
92
90
93
96
97
96
--

5,401
3,221
*381
*903
*345
*843
*356
794

93.7 17,990
--

47,854
+ 8.6

94
96
88
95
93
92
92
--

4,567
3,287
*438
*912
*338
*925
*367
1,041

93.4 17,209
--

44,075

94
94
91
94
93
95
93
--

93.3
--

— 12.2

•N ot including winter-wheat area of these States, which is given under “ other
w inter.’!

1440

THE CHRONICLE.

[V o l .

l x x x iy .

N ote.— Three ciphers (000) om itted from acreage figures.
The total area reported in oats is about 31,491,000 acres, an increase o f 532,000
a cres, or 1 .7 % , as com pared with the final estimate o f the area sown last year
(30,959,000).
The average condition of oats on June 1 was 81.6, against 85.9 on June 1 1906,
92.9 at the corresponding date in 1905 and a ten-year average o f 89.7.
The following table shows for the thirteen principal oats States the acreage com ­
pared with last year, on a percentage basis, and the condition on June 1 in each of
the last three years, with the ten-year June averages:

sheetings and drills remain firm here, it is evident that it
has not been o f sufficient volum e to affect manufacturers.
Light-weight sheetings, which are well sold ahead, are very
firm, with current business of moderate dimensions only.
Bleached muslins in all grades are m oving out in considerable
quantities on existing contracts, and orders com ing to hand
during the week have, in a number of instances, been ac­
cepted “ at value o n ly .” There are few coarse colored cot­
Acreage
Condition June 1.
comvared
tons in the market available for quick delivery, and sellers
Stales.
with last
Ten-year
continue difficult to deal with; a similar condition prevailing
year.
average.
1907.
1906.
1905.
in the general run of napped fabrics. Printed fabrics are
I o w a _______ __
____
100
94
96
94
85
firm for calicos and the heavier descriptions, but the hesi­
Illinois___________ ____
100
86
93
88
75
W isconsin ______
104
87
94
95
95
tation noticeable last week in thin sheer goods is still evident.
Nebraska _ ______
.
103
90
92
85
87
Ginghams are firm with new orders moderate in volum e.
Minnesota____________
104
89
93
93
93
Indiana _____________
Advances have been quoted in silesias and other converted
102
60
97
85
87
Ohio
. ____________
102
83
76
92
S4
linings, and the lin;ngs market generally is in clean condition.
Michigan ____________
103
92
90
75
89
A large purchase of regular print cloths b y a leading Fall
South D akota_________
103
96
89
93
93
N orth D a k o t a _______
106
89
94
95
93
River printer is said to have absolutely cleaned up the mar­
New Y ork . _ _
97
94
87
94
91
ket of these, and as a nominal quotation 5 cents is n am ed.
Pennsylvania _______
95
82
82
90
87
Kansas
. . _______
104
30
81
83
65
Narrow odds and standard and irregular wide cloths are very
firm with a considerable demand.
United States______
101.7
81.6
85.9
89.7
92.9
W O O L E N G O O D S.— New lines of men's wear woolen
The acreage reported as under barley is less than that finally estimated as sown
and worsted fabrics for the spring of 1908 are being steadily
iast year b y about 171,000 acres, or 2 .7 % .
put before buyers, and this helps to keep business m oving in
The average condition o f barley is 84.9, against 93.5 on June 1 1906, 93.7 on June
1 1905 and a ten-year average of 89.8.
very fair volum e. The prices named on the latest additions
The average condition of rye is 88-1, against 89.9 on June 1 1906, 93.6 on June 1
are in keeping with those previously reported and do not
1905 and 90.2 the mean o f the correspondingjaverages o f the’ last ten years.
bring about any real change in the price situation. In spite
G O V E R N M E N T r W E E K L Y "'W E A T H E R |T R E P O R T ""^ - of the fact that clothiers have had such an unsatisfactory
Mr. James Berry, Chief of the Climate and Crop Division of spring trade this year, the orders placed for serges for next
the United States W eather Bureau, made public on Tuesday spring up to date will suffer little in comparison with the
the telegraphic reports on the weather in the various States volum e booked a year ago for the corresponding period.
There are few of the higher grades of fancy fabrics shown so
for the week ending June 10, summarizing them as follows:
far, and indications point to a long-drawn-out season in
On th e P a cific C oast ar.d in th e ce n tr a l an d w e st G u lf S ta te s th e te m ­
connection with these. Overcoatings for next spring are
p era tu re d u r in g th e w e e k e n d in g Ju n e 10 w a s fa v o r a b le and b e n e ficia l te m ­
p era tu re also prev a ile d d u rin g th e la tte r p a rt o f th e w e e k In T en n essee and
being opened, bu t evoke only a mild response from buyers,
th e east G u lf S tates; elsew here th e w e a th e r w as a b n o rm a lly c o ld , e sp e cia lly
and business in cloakings is generally dull. In spring lines
o v e r th e n orth ern p o r t io n o f th e ce n tra l v a lle y s an d In th e L a k e region and
A t la n t ic C oast d is tric ts n o r th w a r d o f N o rth C a ro lin a .
L ig h t fro sts o c c u r re d
of woolen and worsted dress goods a quiet business is being
In th e w estern p o r tio n o f th e u p p e r L a k e reg ion an d in th e lo w e r L a k e re­
put through on staple varieties, but there is not enough
g io n .
P o r tio n s o f th e lo w e r M issouri, ce n tra l M ississip pi an d O h io va lleys
ex p e r ie n c e d v e r y h e a v y rain s, w h ic h cau sed o v e r flo w s t h a t r e su lte d in c o n ­
doing as yet to determine tangibly the spring situation. R e­
sid era b le d a m a g e .
In th e .Southern S tates th e rain fa ll w as v e r y lig h t,
orders for fall lines have been q lite moderate in all descrip­
n o n e h a v in g fallen o v e r a large p a r t o f th a t s e c tio n .
C lo u d y w e a th e r w as
tions.
p r e v a le n t gen era lly th r o u g h o u t the ce n tra l an d n o rth e rn d is tric ts east o f
th e R o c k y M ou n ta in s, b u t in th e S o u th e rn S tates th ere w as a b u n d a n t
F O R E IG N D R Y G OO D S.— Im porters have booked a fair
sun sh in e.
number of orders during the week, chiefly for broadcloths
F or oth er tables u s u a lly g iv e n h ere, see p a g e 1 4 0 8 .
and mohairs, the demand running upon these. There has
been a moderate increase in business in piece silks for fall,
bu t the demand for ribbons continues quiet. Linens are
slow for quick delivery, and forward business is more or less
TH E DRY GOODS TRADE.
interfered with b y the extreme prices asked at first hands.
B irlaps are quiet and in occasional instances easier to bu y,
New York, Friday Night, June 14 1907.
but without general reductions in quotations.
The general conditions of the market have not undergone
any material change during the past week. The weather Importations and Warehouse Withdrawals of Dry Goods.
The im portations and warehouse withdrawals of dry goods
has shown some im provem ent, but has not on any day been
of really seasonable character, and while distribution by the at this port for the week ending June 8 1907 and since
retail trade m ay have increased somewhat, the expansion Jan. 1 1907, and for the corresponding periods of last year,
has done little to relieve it of the burden of stocks, much are as follows:
K
Si
heavier than it ought to be carrying at this time of the year.
g
a a <j g
oo p
— ppr rf
o O
*3 g
s
Rum ors adverse to the credit of certain large uptow n stores
were freely circulating around W all Street during the past ~ p. —
3. - p * . o £ ?
day or tw o, but investigation shows that these have no real 3 Bo i
foundation, and were probably based upon the fact that the
1
c
s 8 g- “
weather hitherto has materially interfered with the distri­
£ gc 33 ■!
bution of spring and summer goods, and the further fact
< . ii.
that in a number of instances payments have not been made
: 31 ;
> : : ; :
quite as prom ptly as they m ight have been under more
ra . . . .
H
'
111
favorable conditions. W ith this, so far as can be learned,
x ! ill
the only basis, the rumors referred to were used for specu­
o • I••’
o
CO to
Ch co I to *-* I
lative purposes on the Stock Exchange and in the cotton e,
© CO co co - ^ y
2
w Vjco >
market. The general demand for cotton goods at first W | WOO JO © tO
>-* “O CO O C5 o H*
H
‘ CD**4 C
© CO to os © CO
© I A © ■*4 »4 CO to **4
hands this week has been of moderate extent only, but still
' 3<5Z
quite sufficient to absorb all unsold supplies coming forward
w * 03

and to prevent any stock accumulations. The tone con­
tinues good and prices are firm to a hardening tendency in
nearly all directions, with occasional advances quoted on
incidental lines. The offerings of m en’s wear woolens and
worsteds for spring are increasing in num ber, but there has
been no developm ent during the week of a character to ma­
terially affect the general situation.
DOM ESTIC COTTON G O O D S.— The exports of cotton
goods from this port for the week ending June 8 were 3,674
packages, valued at $253,270, their destination being to the
points specified in the table below:
------- - 1 9 0 6 --------------------------190 5--------S in c e
S inxe
N ew Y o r k to J u n e 8—
W eek .
Jan. I.
W eek .
J a n . 1.
G rea t B r it a in _____________________________
S3
1,0 1 8
18
671
O th e r E u r o p e a n ___________________________
28
562
6
691
C h in a -.............................. .............. ...................................
10,0 4 3
6 ,4 4 ?
63,773
I n d i a ......................... .......................... ...................
25
4,5 6 5
42
3,800
A r a b ia ----------------- ------------------------------------------------18,7 5 3
1,8 7 6
19,388
12
3,609
2
4,335
A f r i c a ............. ........................................................
W e s t I n d i e s '_______________________________ 738
10,559
266
10,078
M e x i c o . ............................................... ...................
55
1,1 4 0
60
985
C en tral A m e r ic a .................................................. 224
6,851
290
7,282
S o u th A m e r ic a _____ _______ ______________ 1,8 2 8
2 1 ,4 2 6
2,1 2 5
25,739
O th e r c o u n t r ie s .................................................. 711
1 5 ,0 1 4
337
7,537
T o t a l . . ........................................................... .3 ,6 7 4

9 3 ,5 4 0

1 1 ,464

144,279

The value of these New Y ork exports since Jan. 1 has beon
$5,970,639 in 1907, against $8,106,892 in 1906.
The prom inent feature in heavy brown cottons is the fact
that further purchases of these have been made in China
for im portation into this country. The extent of business
thus done is variously estimated, but as prices of both heavy




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S ta te

C ity

Bond Calls and Redemptions.
Silver Bow County (P. 0 . Butte), Mont.— Bond Call.—
The County Treasurer will redeem July 1, $125,000 15-20year (optional) bonds issued July 1 1892, num bered 1 to 125
inclusive. Denom ination $1,000.

Bond Proposals and Negotiations this week
have been as follows:
Adams County (P. O. Natchez), Miss.— Bonds Proposed.—
The Board of Supervisors is considering the advisability of
issuing $ 10,000 road-graveling bonds.
Adel, Berrien County, Ga.— Bond Sale.— This city recently
disposed of the $25,000 5 % 30-year water-works and cityhall-building bonds offered w ithout success on April 15
(V. 84, p. 1066) to the Bank of Adel.
Akely School District (P. O. Akely), Hubbard County,
Minn.— Bonds Authorized.— This district has authorized the
issuance of $8,000 school-building bonds.
Akron, Summit County, Ohio.— Bonds Proposed.— Ordi­
nances are before the City Council providing for the issuance
of the following bonds:
$6 ,040 B lttm a n S treet e x te n sio n b o n d s.
D e n o m in a tio n $ 1 ,0 0 0 , e x c e p t o n e
b o n d fo r $500. M a tu rity p a r ty y e a r ly o n Jun e 1 fro m 1908 t o 1910
In clu sive.
2 .0 0 0 M arvin A v e n u e im p ro v e m e n t b o n d s.
D e n o m in a tio n $ 1 ,0 0 0 .
M a­
tu r ity $1,000 o n Ju n e 1 1908 an d $ 1 ,000 o n Ju n e 1 1909.

The above bonds are dated June 1 1907.
Allegheny, Allegheny County, Pa.— Litigation.— A ccord­
ing to the “ Pittsburgh Press” injunction proceedings have
been instituted b y Councilman E. G. Lang to restrain the
issuance of the $1,000,000 4 % registered reservoir and watermain bonds offered but not sold on May 30. See V. 84, p.
1318. The case came up for hearing in the Court of Common
Pleas on June 13.
Antigo, Langlade County, W is.— Bond Offering.— Further
details are at hand relative to the offering on Aug. 1 of the
$10,000 43^% coupon refunding bonds mentioned in V. 84,
p. 1318. Proposals will be received until 2.30 p. m . on that
day b y G. O: Palmiter, City Clerk. Denom niation $2,000.
Date July 1 1907. Interest semi-annually at the First Na­
tional Bank of Antigo. Maturity $2,000 yearly on July 1
from 1922 to 1926 inclusive. Certified check for 5 % , pay­
able to the City Clerk, is required.
Antlers, Ind. Ter.— Bonds Voted and Sold.— This city on
June 4 authorized the issuance of $8,000 6 % 30-year school
bonds b y a vote of 122 to 0 . These bonds, we are inform ed,
have been awarded to R . J. Edwards o f Oklahoma City.
Bamberg, Bamberg County, So. Car.— Bonds Voted.— An
election held May 7 resulted in a vote of 67 to 23 in favor of
a proposition to issue $7,000 water-works bonds.
Bath, Sagadahoc County, Me.— Offering.— Proposals will
be received until 8 p. m. June 17 b y John A. Morse, Chairman
of the Finance Com mittee, “ for the whole or any part of one
or more of the following issues:”
$90 ,0 0 0 4 % c o ld c o u p o n re fu n d in g b o n d s.
In te re st se m i-a n n u a lly a t th e
C ity T ru s t C o . o f B o s to n .
M a tu r ity $10 ,000 y e a r ly o n J u ly 1
fro m 1911 t o 1919 in clu s iv e .
9 0 .0 0 0 4 }4 % c o u p o n n o te s .
In te re st s e m i-a n n u a lly a t th e C ity T ru st
C o. o f B o s to n .
M a tu r ity J u ly 1 1909.
90.0 0 0
te m p o r a r y lo a n n o te s .
D e n o m in a tio n $5,000 t o $ 1 0 ,0 0 0 .
" S i x m o n th s ’ interest p a id in a d v a n c e o n J u ly 1 1907 a n d J a n . 1
1 9 0 8 .”
M a tu rity J u ly 1 1908.

The above bonds or notes will be issued under authority
of Section 75, Chapter 4, o f the Revised Statutes of 1903, to
refund $91,000 43^% bonds maturing July 1 1907. Date
July 1 1907. Official circular states there has never been any
default in the paym ent of principal or interest on previous
issues and that Story, Thorndike, Palmer & Thayer of
Boston will certify to the legality of the bonds or notes issued.
Bath, Steuben County, N. Y . — Bond Offering.— Proposals
will be received until 1 p. m . June 17 b y A . E . McCall,
Village President, for $5,500 funding and bell-tower bonds.
Denominations $1,000, except one bond of $1,500. Date
July 1 1907. Interest (rate to be named in bids) payable
annually at the G. W . Hallock Bank of Bath. Maturity
$1,500 on July 1 1908 and $1,000 yearly on July 1 from
1909 to 1912 inclusive. Certified check or draft for $ 100,
drawn on a New Y ork City bank and made payable to Charles
L. D avison, Village Treasurer, is required.
Bay City, Bay County, Mich.— Bond Offering.— Proposals
will be received until 12 m. June 24 b y C. J. Barnett, City
Com ptroller, for $ 200,000 4 % public-park bonds. The
official circular states that “ the city reserves the right to issue
$50,000 of these bonds in the following denominations: 125
bonds of $200 each and 50 bonds of $500 each; and will give
the citizens of Bay City the preference in the sale of these
$50,000 bonds; that bids must be made for $150,000 of the
bonds with the above reservation, and for $ 200,000 of same
without said reservation, and also for the $50,000 reserved
in the denomination specified.” Bonds will be dated June
15 1907. Interest semi-annually in New Y ork City. Ma­
turity 30 years. Each bid must be accompanied b y an un­
conditional certified check for $ 2,000, except the bids for the
small denomination of $50,000 reserved, which shall be ac­
com panied by a certified check for 2% o f the am ount bid.




1441

THE CHKONICLE.

J u n e 1 5 1 9 0 7 .]

Purchaser to pay accrued interest. These securities were
offered but n ot sold on May 27.
Beardstown, Cass County, 111.— Bond Election Proposed.—
There is talk of calling an election to vote on the question of
issuing $50,000 school-building bonds.
Beaumont, Jefferson County, Texas.— Bond Election.—
The City Council has decided to call an election July 9 to
vote on propositions to issue $20,000 Main Street markethouse and $20,000 brick fire-station-building bonds.
Bellevue, Huron County, Ohio.— Bond Offering.— Pro­
posals will be received until 12 m. June 17 b y George Lieber,
Village Clerk, for $7,000 5 % coupon High Street and Y ork
Street (village’s p ortion ) im provem ent bonds. Denomina­
tion $500. Date J u n e 15 1907. Interest March and Sept.
at Village Treasurer’s office. Maturity $500 each six months
from March 1 1912 to Sept. 1 1918 inclusive. Certified
check for $500 required. Bonds are exem pt from all taxes.
Benton Harbor, Berrien County, Mich .-—Bond Sale.— On
May 15 the $30,000 4 3^% 20-year refunding bonds mentioned
in V. 84, p. 950, were awarded to the American Trust & Sav­
ings Bank of Chicago at 102— a basis of about 4 .3 5 % . De­
nom ination $1,000. D ate April 1 1907. Interest semi-annual.
Bonds Voted.— An election held June 3 resulted in favor
of a proposition to issue $30,000 30-year new-highway-bridge
bonds. The vote was 269 to7 1. Interest not to exceed 5 % .
Bevier School District (P. O. Bevier), Macon County, Mo.
— Bonds Voted.— This district on May 18 voted in favor of a
proposition to issue $16,000 high-school-building bonds.
The vote was 192 “ for” to 19 “ against.”
Big Falls, Koochiching County, Minn.— Bond O ffering.—
Proposals will be received until 3 p . m . June 22 by the Village
Council for $5,500 6 % coupon w ater-w orks-system -construction bonds. Denom ination $500. Date July 1 1907. In ­
terest annually in New Y ork City or St. Paul. Maturity
$500 yearly on July 1 from 1917 to 1927 inclusive. An
unconditional certified check for $300, payable to the Village
Treasurer, is required. Accrued interest, if any, to be paid
by purchaser. C. L. Hillstead is Village Recorder.
Big Timber, Sweet Grass County, Mont.— Bond Sale.— On
June 3 the $10,000 6 % 10-20-year (optional) coupon water­
works bonds described in V. 84, p. 1195, were awarded to
the Caledonia Investm ent Co. of St. Paul for $11,301 50
(103.253) and accrued interest.
Biloxi, Harrison County, Miss.— Bond Election Proposed.—
The City Council is considering the advisability of calling an
election to vote on a proposition to issue $50,000 high-schoolbuilding and site-purchase bonds.
Bloomville School District (P. O. Bloomville), Seneca
County, Ohio.— Bond Sale.— On June 7 the $10,500 4 ^ %
coupon school-house-im provem ent bonds described in V . 84,
p. 1318, were awarded to Hoehler & Cummings o f Toledo at
103.492— a basis of about 4.0 9 5 % . Following are the bids:
H o e h le r & C u m m in gs, T o l . $ 1 0 ,8 6 6
O tis & H o u g h , C le v e la n d - 10,733
S e c .S a v .B k .& T r .C o ., T o l . . 10,672
R o g e r s & S o n ., C h agrin F _ 10,6 2 3
T iffin S a v . B k ., T i f f i n ____ 10,584
T iffin N a t. B k . , T i f f i n ____ 10,582
M aturity $500 yearly 011

75
00
00
00
00
00

C ’ m e rcia l N a t . B k ., T i f f i n .$10 ,5 8 0
H a y d e n , M iller & C o ., C le . 10,561
W . J . H a y e s & S o n s, C le ._ 10,530
F . L . F u lle r & C o ., C le v e . 10,513
S. A . K e a n , C h ic a g o ______ 10,300

50
00
00
50
00

.

Sept. 1 from 1908 to 1928 inclu­

sive.
Blum School District (P. O. Blum), Hill County, Tex.—
Bond Sale.— W e have just been advised that on May 7 the
$10,000 5 % 10-30-year (optional) coupon school-building
bonds described in V. 84, p. 1066, were awarded to the
State School Fund of Texas.
Bossko Township (P. O. Otto), So. Dak.— Bonds Not Sold.
— No bids were received on May 30 for the $2,000 5 % coupon
funding bonds described in V. 84, p. 1011.
Breckenridge School District (P. O. Breckenridge), Cald­
well County, Mo.— Bonds Voted— Bond Offering.— An elec­
tion held June 4 resulted in a vote of 193 to 74 in favor of a
proposition to issue $13,000 5 % school-im provem ent bonds.
Interest semi-annual. Maturity part yearly on Jan. 1 from
1909 to 1926 inclusive. Proposals for these bonds will be
received up to June 18.
Buchanan School District (P. O. Buchanan), Stutsman
County, No. Dak.— Bond Sale.— This district has awarded
$11,000 school-building bonds to the State of North D akota.
Buffalo, Erie County, N. Y .— Bond Sale.— On June 12 the
$200,000 4 % 1-20-year (serial) registered city and cou n tyhall refunding bonds, a description of which was given in V.
84, p. 1383, were awarded to the Erie County Savings Bank
of Buffalo at par and accrued interest. No other bids were
received.
Caldwell County (P. O. Lockhart), Tex.— Bonds Not to be
Issued this Year.— W e are inform ed that the County Com ­
missioners have decided n ot to issue the $35,000 coupon jailand-road bonds mentioned in V. 84, p. 1011, until next year.
Calgary, A lta.— Debentures Not Sold.— No award was made
on May 31 of the seven issues of 43^% debentures, aggre­
gating $131,500, described in V. 84, p. 1135.
Canton, Madison County, Miss.— Bond Offering.— Pro­
posals will be received until Sept. 1 b y E. B . Harrell, City
Clerk, for the $50,000 5 % coupon sewer-construction bonds
described in V. 84, p. 1261. A uthority Sections 3415, 3416
and 3419, Chapter 99, Code of 1906. Denom ination $500.
Date Sept. 1 1907. Interest semi-annually at the City

144*2

THE CHRONICLE

Treasurer’s office. Maturity Sept. 1 1927, the first five
bonds being subject to call after Sept. 1 1912. Certified
check for $2,000, payable to the Mayor and Board of Alder­
men, is required. Bonds are tax exem pt.
Canton, Stark County, Ohio.— Bond Offering.— Proposals
will be received until 12 m. Jifly 1 b y Armstrong A shbrook,
City Auditor, for $1,600 4 % Dueber Avenue storm -watersewer-construction bonds. Authority Section 2835 of the
Revised Statutes. Denomination $ 1,000, except one bond
for $1,600. Date July 1 1907. Interest semi-annual. Ma­
turity July 1 1917. Bids to be made on blank form s furnished
b y the City Auditor and accompanied b y a certified check
for 5 % of bonds bid for, drawn on a bank in Canton and
made payable to the City Treasurer. Purchaser to pay
accrued interest and furnish blank bonds at his own expense.
Cheboygan School District (P. O. Cheboygan), Cheboy­
gan County, Mich.— Bond Sale.— On June 5 the $24,000 5 %
15-year high-school-building bonds offered on that day (V.
84, p. 1319) were awarded to O ’Connor & Kahler of New Y ork
City at 104.54 and accrued interest— a basis of about 4.5 79% .
Following are the bids:
O ’ C o n n o r & K a h le r, N . Y .$ 2 5 ,0 8 9 T60| W . E . M oss & C o ., D e tr o it $24 ,7 5 0 00
E . H . R o llin s & S on s, C h i. 25,056 0 0 | S p itzer & C o ., N . Y _______ 2 4,321 40
S e a so n g o o d & M a y e r, C in ._ 2 4 ,854 4 0 1W .E .M o s s & C o .,D e t .(4 M s ) 2 4 ,0 1 0 00

The above bonds are dated June 1907. Interest semi­
annual.
Checotah, Ind. Ter.— Bond Sale.— This city recently
awarded an issue of $65,000 6 % 30-year water-works bonds
to R . J. Edwards of Oklahoma City at par. Denom ination
$ 1,000. Interest semi-annually July and January. Date
July 1907.
Chicago, 111.— Charter Election.— An election will be held
Sept. 17 to vote on the question of a new city charter.
Cincinnati, Hamilton County, Ohio.— Bonds Authorized.—
The City Council recently passed ordinances providing for
the issuance of the following bonds:
$ 2 5 ,0 0 0 3.65 % c o u p o n fire -d e p a rtm e n t b o n d s .
D e n o m in a tio n
$ 1 ,0 0 0 .
D a te , d a y o f sale. M a tu r ity 30 y e a rs.
2 2 ,5 0 0 3.65 % c o u p o n fir e -d e p a r tm e n t-b u ild in g b o n d s.
D e n o m in a tio n
$10 0. D a t e , d a y o f sale. M a tu r ity 30 y e a rs .
2 0 .0 0 0 3 .6 5 % c o u p o n H a rriso n A v e n u e v ia d u c t-r e p a ir -fu n d b o n d s .
D e­
n o m in a tio n $50 0.
D a te M a y 25 1907. M a tu r ity M a y 25
1927.
4 0 .0 0 0 4 %
cou p on
fire -d e p a r tm e n t-b u ild in g
b on d s.
D e n o m in a tio n
$50 0. D a t e , d a y o f sale. M a tu r ity 30 y e a rs.
1 0 .000 3 .6 5 % c o u p o n M cM ick e n A v e n u e im p r o v e m e n t b o n d s .
D e n o m i­
n a tio n $50 0.
D a te Ju n e 15 1907.
M a tu r ity Ju n e 15 1909.
2 3 .0 0 0 4 %
coupon
fir e -d e p a r tm e n t
b on d s.
D e n o m in a tio n
$500.
D a t e , d a y o f sale. M a tu r ity 30 y e a rs .
3 6 3 .0 0 0 4 %
c o u p o n s tr e e t-im p ro v e m e n t ( c i t y ’s p o r tio n ) b o n d s .
D e­
n o m in a tio n $500.
D a te Ju n e 30 190 7. M a tu r ity Ju n e 30
1922.
150 .0 0 0 3.6 5 % c o u p o n re fu s e -d is p o s a l-s ta tio n b o n d s .
D e n o m in a tio n $500.
D a te , J u ly 15 190 7. M a tu r ity J u ly 15 1927.
150 .0 0 0 4 %
c o u p o n G ilb ert A v e n u e w id e n in g b o n d s .
D e n o m in a tio n
$500.
D a te O c t . 15 190 7. M a tu r ity O c t . 15 1947.
2 5 .0 0 0 3 .6 5 % c o u p o n G est S treet e x te n s io n b o n d s .
D e n o m in a tio n $500.
D a te O c t . 15 1907. M a tu r ity O c t . 15 1947.
3 0 0 .0 0 0 4 %
c o u p o n p a rk b o n d s.
D e n o m in a tio n $50 0.
D a te O c t . 15
1907. M a tu r ity O c t . 15 1957.

Interest semi-annual.
Coeur d’Alene, Kootenai County, Idaho.— BondOffering.—
Proposals will be received until 2 p . m . June 24 b y the Sewer
Com mittee, George W illiams, Chairman, for not exceeding
$80,000 Sewerage Im provem ent District No. 1 coupon as­
sessment bonds. Denom ination $500. Date D ec. 1 1906.
Interest annually at the Exchange National Bank of Coeur
d ’Alene. Maturity Dec. 1 1916, subject to call at any time.
Certified check for $4,000, payable to the Sewer Committee,
is required. Accrued interest to be paid b y purchaser.
Coffee County (P. O. Manchester), Tenn.— Bonds Defeated.
— On June 10 this county defeated the proposition to issue
the $150,000 road-im provem ent bonds mentioned in V. 84,
p. 1195.
Coffeyville, Montgomery County, Kan.— Bond Sale.— This
city recently.disposed o f $3,950 internal-im provem ent bonds.
Coles County (P. O. Charleston), 111.— Bonds Voted.— This
county on June 8 authorized the issuance .of $225,000 1-20year (serial) funding bonds b y a vote of 2,922 to 2,486.
Interest n ot to exceed 4 % . Date o f sale not yet determined.
Colorado Springs, El Paso County, Col.— No Action Yet
Taken.— We are advised under date of June 6 that no further
action has yet been taken looking towards the issuance of
the $150,000 bonds voted on April 2, for the purchase or
construction of an electric-light plant.
Columbus, Ohio.— Bond Sales.— The follow ing bonds were
sold at par during the m onth of May to the Sinking Fund:
$ 2 ,0 0 0 4 % c o u p o n P r in c e to n A v e n u e s e w e r -c o n s tru c tio n assessm en t b o n d s
D a te M a y 31 190 7. M a tu r ity S e p t. 1 1 90 9, s u b je c t t o ca ll a fte r
S e p t. 1 1908.
4 .0 0 0 4 %
c o u p o n S u lllv a n t S tre e t s e w e r -c o n s tru c tio n assessm en t b o n d s.
D a te M a y 31 1907. M a tu r ity S e p t. 1 190 9, s u b je c t t o ca ll a fte r
S e p t. 1 1908.
1 .0 0 0 4 )4 % c o u p o n A v o n d a le S tre e t s e w e r -c o n s tru c tio n assessm en t b o n d s .
D a te M a y 31 1907.
M a tu rity S e p t. 1 1 90 9, s u b je c t t o ca ll a fte r
S ep t. 1 1908.
2 .0 0 0 4 % c o u p o n C olu m b u s S tre e t Im p r o v e m e n t assessm en t b o n d s
D a te
A p iil 30 190 7. M a tu r ity S e p t. 1 1 91 8, s u b je c t t o call a fte r
S e p t. 1 1909.
6 .0 0 0 4 % c o u p o n E n g le r Street Im p r o v e m e n t assessm en t b o n d s .
D a te
M a y 31 1907.
M a tu rity S e p t. 1 191 8, s u b je c t t o ca ll a fte r
S e p t. 1 1908.
5 .0 0 0 4 % c o u p o n B o liv a r A v e n u e im p ro v e m e n t assessm en t b o n d s .
D a te
D e c . 1 1906.

Columbus Grove, Putnam County, Ohio.— Bond Offering.
— Proposals will be received until 12 m. June 29 b y H . F.
Busche, Village Clerk, for $12,500 4J/£% coupon public-hall
bonds. Authority Sections 2835, 2835 B, 2836 and 2837,
Revised Statutes, and election held May 13 1907. D enom i­
nation $1,250. Date Aug. 1 1907. Interest semi-annually




[V o l .

l x x x iv

.

at the Village Clerk’s office. Maturity $1,250 yearly on Aug.
1 from 1912 to 1921 inclusive. Certified check for 5 % of
bonds bid for, payable to the Village Treasurer, is required.
Purchaser to pay accrued interest and furnish blank bonds.
Conneaut, Ashtabula County, Ohio.— Bond Offering.— In
addition to the $36,000 5 % Harbor Street im provem ent as­
sessment bonds to be offered at 12 m. June 22 (V. 84, p.
1383), proposals will also be received at the same time and
place b y BL. T. Culp, City Auditor, for the following bonds:
$ 14 ,200 4 %

s tr e e t-im p ro v e m e n t ( c i t y ’ s p o r tio n ) b o n d s .
D e n o m in a tio n
$ 1,000, e x c e p t o n e b o n d fo r $ 1 ,2 0 0 .
M a tu r ity $1,0 0 0 y e a r ly
o n Jun e 1 fro m 1908 t o 1920 in clu s iv e a n d $ 1 ,2 0 0 on Ju n e 1
1921.
2 ,5 0 0 5 % F ifte e n th Street im p ro v e m e n t assessm ent b o n d s .
D e n o m i­
n a tio n $25 0. M a tu r ity $250 y e a r ly o n Ju n e 1 fro m 1908 t o
1917 in c lu s iv e .
4 ,2 0 0 5 % B ro a d S tre e t im p r o v e m e n t assessm ent b o n d s .
D e n o m in a tio n
$500, e x c e p t o n e b o n d fo r $200. M a tu r ity $200 on Jun e 1
1908 an d $500 o n Ju n e 1 In ea ch o f th e ye a rs 1 90 9, 1910,
1911, 1912, 1914, 1915, 1916 a n d 1917.
5,8 0 0 5 % D e p o t S tre e t im p ro v e m e n t assessm ent b o n d s.
D e n o m in a tio n
$500, e x c e p t o n e b o n d fo r $30 0. M a tu r ity $500 y e a r ly on
Jun e 1 fr o m 1908 t o 1913 in clu s iv e , $800 on Ju n e 1 1914,
$500 in e a ch o f th e ye a rs 1915 an d 1916 an d $ 1 ,0 0 0 on Ju n e 1
1917.

A uthority Sections 1536-281 o f the Revised Statutes.
Date June 1 1907. Interest annual. Certified check for
5 % of bonds bid for, payable to the City Treasurer, is re­
quired. Accrued interest to be paid by purchaser.
Cortlandt Union Free School District No. 8 (P. O. Peekskill), Westchester County, N. Y .— Bond Sale.— On June 12
the $50,000 1-25-year (serial) bonds dated July 1 1907 and
described in V. 84, p. 1319, were awarded to the Peekskill
Savings Bank of Peekskill at par for 4.35s. Following are
the bids:
P e e k s .S a v .B k ., P e e k s. (4 .3 5 s )$ 5 0 ,0 0 0 1F e r r is & W h ite , N .Y . (4.4 0s) ..$ 5 0 ,0 0 0
O ’ C o n n o r & K a h le r .N .Y .(4 .3 8 s ) 50,0 0 0 j O tis & H o u g h , C le ., (4 .5 0 s )___ 5 0 ,2 5 3
A d a m s & C o ., N . Y . ( 4 .4 0 s ) . . 50,1 1 7 |G .M .H a h n , N . Y . ( 4 . 7 5 s ) . . . 50,1 5 3

Covington, Tipton County, Tenn.— Bond Offering.— Fur­
ther details are at hand relative to the offering of the $15,000
5 % coupon sewer bonds m entioned in V. 84, p. 1384. Pro­
posals will be received at any time b y F. R . Fisher, City
Recorder. Denom ination $500. Date July 1 1907. Inter­
est semi-annually at the City R ecorder’s office. Maturity
$*,000 on July 1 1917; $5,000 on July 1 1927 and $7,000 on
July 1 1937. Bonded debt, not including this issue, $72,000.
Cranberry Township (P. O. New Washington), Crawford
County, Ohio.— Bond Sale.— This township on May 14
awarded $20,000 5 % road-im provem ent bonds to the Farm­
ers’ Exchange Bank of New W ashington on a 4 % basis. De­
nomination $500. Date March 1 1907. Interest semi­
annual. Maturity from 1916 to 1925.
Crawford County (P. O. Bucyrus), Ohio.— Bond Offering.
— Proposals will be received until 12 m . July 5 by J. I. Smith,
County Auditor, for $ *0,000 5 % coupon R oad District No. 1
im provem ent bonds. Denom ination $1,000. Date Aug. 1
1907. Interest semi-annually at the County Treasurer’s
office. Maturity $15,000 Aug. 1 in each of the years 1919
and 1920. An unconditional certified check for $200 is
required. Purchaser to furnish blank bonds.
Dalhart, Dallam County, Tex.— Bond Sale.— This city has
disposed of the $8,500 10-40-year (optional) city-hall and
fire-station bonds (V. 84, p. 1067) registered by the State
Comptroller on April 25.
Danbury, Fairfield County, Conn.— Bonds Not Sold.— No
bids were received on June 10 for the $75,000 4 % 20-year
gold water bonds described in V. 84, p. 1384.
Daviess County (P. O. Washington), Ind.— Bond Sale.—
On April 12 this county awarded $2,490 4*^ % gravel-road
bonds to the People’s National Bank of Washington at par.
Denom ination $124 50. Date May 16 1907. Interest semi­
annual. Maturity $124 50 each six months from May 15
1908 to N ov. 15 1917 inclusive.
Dayton, Montgomery County, Ohio.— Bond Sale.— This
city has awarded $8,390 alley assessment, $1,220 Harry
Street im provem ent, $1,700 street-sprinkling and $400 side­
walk 6 % 1-year bonds, dated June 1 1907, to the Sinking
Fund at par.
Delaware.— Bond Sale.— On June 11 the $40,000 4 % 1020-year (optional) coupon State hospital bonds (second
series) were awarded to K ountze Bros, of New Y ork City at
100.133 and the $20,000 4 % 10-year coupon farm-purchase
bonds were awarded to Preston Lea of W ilm ington at 101.25
A bid at par was also received from the Farmers’ Bank of
Dover. For description of these securities see V. 84, p . 1196.
Delaware, Delaware County, Ohio.— Bond Offerings.—
Proposals will be received until 12 m. July 1 by F. D. K ing,
City Auditor, for the follow ing bonds:
$ 2 ,0 0 0 5 % "cou pon s tre e t-sp rin k lin g b o n d s .
D e n o m in a tio n $ 1 ,0 0 0 .
D a te
M a y 1 1907.
2,0 0 0 5 % c o u p o n s tre e t-s p rin k lin g an d cle a n in g b o n d .
D a te Ju n e 1 1907.

Interest semi-annually at the depository of the Sinking
Fund in Delaware. Maturity one year, subject to call at
any time.
Proposals will be received until 12 m. July 8 b y F. D. King,
City Auditor, for $10,000 5 % coupon sub-fire-station bonds.
A uthority, an ordinance passed May 21 1907. Denom ina­
tion $1,000. Date July 1 1907. Interest semi-annually at
the depository of the Sinking Fund. M aturity $ 1,000 a year
on July 1 from 1908 to 1917 inclusive.
Delta, Fulton County, Ohio.— Bond Sale.— On May 21 the
$2,087 95 5V2% Delta Street improvement bonds offered on
April 22 (V. 84, p. 764) were awarded to the Security Savings

J u n e 15 1907. J

THE CHRONICLE.

Bank & Trust Co. of Toledo for $2,469 95 (103.927) and
accrued interest. Maturity S287 95 on Sept. 1 1908 and $200
yearly on Sept. 1 from 1909 to 1917 inclusive.
Derry, Rockingham County, N. H .— Bonds Proposed.—
This town is considering the advisability of issuing not ex­
ceeding $90,000 4 % gold coupon bonds for the purchase of
water-works. Denom ination $1,000. Date July 1 1907.
Interest semi-annually in Boston. Maturity $13,000 on
July 1 1917, $25,000 on July 1 1922, and the balance on
July 1 1927. Total debt, $35,809 09. Assessed valuation
1907, $1,650,645.

W e lls , D ic k e y C o ., M ln n .* $ 1 9 ,210
O ’ C o n n o r & K a h le r , C h ic .
19,331
19,212
S. A . K e a n , C h ic a g o ____
G . M . B e c h te l& C o ., D a v .
1 9 ,200
M a c D o n a ld ,M c C o y & C o .,C h .19,139
D e v lt t , T r e m b le & C o ., Ch *19,105

1443
00
00
50
00
00
00

T h o s . J. B o ld e r C o ., C h ic .*$ 1 9 ,0 2 0
First N a t . B a n k , C h ic ___
1 9 ,000
J. M . H o lm e s , C h i c a g o . .
1 9 ,000
F . E . M a gra w , S t. P a u l . .
1 9 ,0 0 0
A m e r . T r .& S a v .B k ., C h i.
1 9 ,0 0 0
J o h n N u v e e n & C o ., C h ic
1 9 ,0 0 0
W . J. H a y e s & S o n s , C le .
18,625

00
00
00
00
00
00
00

* A n d a c c r u e d in te re st.

Fort Edward, Washington County, N -Y - .— Bond Sale.—
On June 11 the $80,000 sewer bonds mentioned in V. 84, p.
1135, were awarded to W . N. Coler & Co. of New Y ork City
for $80,026 (100.032) and accrued interest for 4.70s. De­
nom ination $2,666.66. Date April 1 1907. Interest semi­
annual. M aturity one bon d yearly on April 1 from 1908 to
Deseronto, Hastings County, Ont.— Debenture Offering.— 1937 inclusive.
Proposals will be received up to July 2 b y R obert N. Irvine,
Freeborn County (P. O. Albert Lea), Minn.— Bond Sale.—
Tow n Clerk, for $20,000 4 ^ % coupon im provem ent assess­ On June 10 an issue of $30,186 97 ditch-construction bonds
m ent debentures. These debentures are part of an issue of was awarded to Thos. J. Bolger & Co. of Chicago as 5s.
$50,000 authorized at an election held March 27 1907, Bids were also received from Hoehler & Cummings of Toledo,
$30,000 of which have already been subscribed for b y local W . J. Hayes & Sons of Cleveland, S, A. Kean of Chicago,
investors. Interest annually on N ov. 1 at the Bank of U. M. Stoddard & Co. of Minneapolis, Minnesota Loan &
Montreal in Deseronto. Maturity part yearly on N ov. 1 Trust Co. of Minneapolis and the Union Investm ent Co. of
from 1908 to 1937 inclusive. Total debt, not including this Minneapolis. Denom ination $3,000. Date July 1 1907.
issue, $52,220.72. Assessed valuation, $1,1139 13.
Interest semi-annual. •
Fulton County (P. O. Atlanta), Ga.— Bond Eletcion Pro­
Donnybrook School District No. 24 (P. O. Donnybrook),
Ward County, No. Dak.— Bonds Voted.— An election held posed.— The County Commissioners propose to call an election
June 4 resulted in favor of a proposition to issue $6,000 4 % to subm it to the voters a proposition to issue $300,000 3010-year school-building bonds. The vote was 146 to 73. year court-house bonds at not exceeding 4 % interest.
Interest semi-annual. Date of sale not yet determined.
Geneseo, Livingston County, N. Y . — Bond Offering.—
Douglas County School District No. 69, W ash.— Bond Proposals will be received until 2 p. m. June 20 b y W m . D.
Sale.— This district has disposed of $13,000 5J^% 10-20- Shepard, Village Clerk, for $20,000 bonds at not exceeding
year (optional) school-house-buiiding bonds to the Spokane 5 % interest. A uthority Chapter 416, Laws of 1906. D e­
& Eastern Trust Co. of Spokane at 100.30. Denom ination nom ination $1,000. Date July 1 1907. Interest annually
in Geneseo. M aturity $1,000 yearly on July 1.
$500. Date June 1 1907. Interest annual.
Georgetown, Brown County, Ohio.— Bond O ffering.— Pro­
Dowagiac, Cass County, Minn.— Bonds Voted.— The citi­
zens of this place on June 4 authorized the issuance of $25,000 posals will be received until 12 m . July 2 by W m . A. E ylar,
5 % bonds by a vote of 504 to 82. We are inform ed that the Village Clerk, for the $12,500 4 % electric-light-plant-extenproceeds of these bonds will be used for the purchase of sion bonds voted on April 30. A uthority Section 2835 of
ground and the erection of buildings thereon for factory pur­ the Revised Statutes. Denom ination $500. Date June 1
poses. Local papers state that an injunction has been 1907. Interest annual. Maturity $500 each six m onths
served on the Mayor restraining the city from issuing these from Feb. 20 1930 to Feb. 20 1942 inclusive. Certified check
for 10% of bonds bid for, payable to the Village Treasurer,
securities.
Eastchester Union Free School District No. 1 (P. O. is required. Accrued interest to be paid b y purchaser.
Girard, Trumbull County, Ohio.— Bond Sale.— On June 10
Tuckahoe), Westchester County, N. Y .— Bond Offering.—
Proposals will be received until 8 p. m. June 26 b y W . F. the $30,000 4 ^ % coupon sewage-disposal-works and trunk Jeffers, Secretary of the Board of Education, for $20,000 4 % sewer bonds described in V . 84, p. 1320, were awarded to
school-building bonds. A uthority Chapter 556, Laws 1894, Hoehler & Cummings of Toledo at 105.14. The follow in g
Section 10, Article 2 , Title 8 , and Acts am endatory thereof. bids were received:
o e h le r & C u m m in g s, T o l.$ 3 1 ,5 4 2 00 I S e c . S a v .B k .& T r .C o ., T o l.$ 3 1 ,0 1 0 00
Denom ination $1,000. Date July 15 1907. Interest semi­ H
D o lla r S a v . B a n k C o ., N iles 31,301 00 |W . J . H a y e s & S o n s, C l e . . 30,5 6 8 00
annually at the Mount Vernon Trust Co. of Mount Vernon. W e ll, R o t h & C o . , C ln ____ 3 1 ,0 5 6 00 |L a m p r e c h t B r o s .& C o ., Cle 3 0 ,5 6 6 00
Maturity $1,000 yearly on July 15 from 1908 to 1927 in­ F irst N a t. B a n k , G ir a r d - . 31,0 1 2 50 |F. L . F u lle r & C o ., C l e . . . 3 0 ,2 6 6 50
Grant County School District No. 42, Minn.— Bond Sale.—
clusive .
Echo School District (P. O. Echo), Yellow Medicine This district recently awarded $ 10,000 4 % 20-year schoolbuilding bonds to the State of Minnesota at par. Bonds are
County, Minn.— Bond Sale.— This district has disposed of
dated May 24 1907. Interest payable July 1.
$8,000 school-house-addition bonds to the State of Minne­
Graton Catholic Separate School District No. 13, Sask.—
sota at par for 4s. Denom ination $500, except one b on d for
$2,000. Date May 27 1907. Interest annually on July 1. Debentures Not Sold.— Up to June 7 no sale had yet been
M aturity $2,000 July 1 1912 and $500 yearly on July 1 from made of the $35,000 5 % coupon school-building debentures
offered on May 15. For description of these securities see
1913 to 1924 inclusive.
V. 84, p . 1012.
El Paso, El Paso County, Tex.— Bond Offering.— ProGreen Island (P. O. Sta. No. 3, Troy), N. Y .— Bond Sale.—
>sals will be received until 12 m . July 3 b y Jos. W . Sweeney,
ayor, for $100,000 5 % school bonds. Denomination This village has awarded the $23,000 4 % registered or coupon
$ 1,000. Interest semi-annually at the Chemical National bonds offered on May 15 (V. 84, p. 1068) to the Security
Bank in New Y ork. Maturity forty years, subject to call Trust Com pany of T roy at par.
after tw enty years. Certified check for $1,000, payable to
Halbur, Carroll County, Iowa.— Bonds Voted— Bond Offer­
Jos. W . Sweeney, M ayor, is required. Percy McGhee is in g.— An election held June 1 resulted in a vote of 27 to 0 in
City Clerk.
favor of a proposition to issue $3,000 5 % water-works con­
Ely School District No. 1 (P. O. Ely), White Pine County, struction bonds. M aturity July 1 1917. Proposals for
Nev.— Bond Sale.— On June 3 the $35,000 6 % coupon school these bonds will be received until July 1.
Hamilton, Butler County, Ohio.— Bond Offering.— Propos­
bonds described in V. 84, p. 1320, were awarded to the First
National Bank of Ely at par.
als will be received until 12 m . July 1 b y Thad. Staub,
Eufaula, Ind. Ter.— Bond Sale.— This town recently sold City Auditor, for the $6,000 4 % coupon South D Street
the $25,000 water-works-system and $15,000 school-building (city ’s portion) paving bonds mentioned in V. 84, p. 1263.
A uthority Section 53, Municipal Code. Denom ination $500.
bonds voted on May 15 and mentioned in V. 84, p. 952.
Everett, Mass.— Bonds Not Sold.— No bids were received Date May 1 1907. Interest semi-annually at the City Treas­
on June 11 for $25,000 4 % coupon refunding bonds offered urer’s office. M aturity May 1 1922. Certified check for
on that day. Denom ination $1,000. Date May 1 1907. 5 % of bonds bid for, payable to the City Treasurer, is re­
Interest semi-annually at the W inthrop National Bank in quired. Accrued interest to be paid by purchaser.
Hamilton, Ont.— Debenture Offering.— Proposals will be
Boston.
M aturity $1,000 yearly on May 1 from 1908 to
received until 12 m . June 20 b y S. H. K ent, City Clerk, for
1932 inclusive.
follow ing debentures:
Evergreen, Koochiching County, Minn.— Bids.— The fol­ the
$ 1 0 5 ,0 0 0 4 % d e b e n tu re s .
M a tu r ity p a r t y e a r ly fo r t w e n ty y e a rs.
lowing bids were received on June 1 for the $8,000 6 % road1 20 .0 0 0 4 % d e b e n tu re s .
M a tu r ity p a r t y e a r ly fo r t h ir t y yea rs.
1 3 5 .0 0 0 4 % d e b e n tu re s . M a tu r ity t w e n t y y e a rs.
and-bridge bonds described in V. 84, p. 1068.
6 2 ,000 4 % w a te r-w o rk s d e b e n tu re s .
M a tu r ity t h ir t y y e a rs .

S

W e lls, D lclcey & C o .. M i n n . $8.015 0 0 1C o m m e rcia l I n v . C o ., D u l-$ 8 ,0 0 0 00

W e are inform ed that the above bids were conditional and
that the question of awarding the bonds will be taken up b y
the Board of Supervisors at a meeting to be held to-day
(June 15).
Finney County (P. O. Garden City), Kan.— Subsidy Voted.
— An election held May 21 for the purpose of voting on the
question of subscribing $190,000 to the capital stock of the
Garden City Gulf & Northern Railroad Com pany resulted
in a vote of 697 “ for” to 159 “ against.”
Fonda Independent School District (P. O. Fonda), Poca­
hontas County, Iow a.— Bond Sale.— On June 5 the $19,000
5-10-year (optional) registered school-building bonds, bids
for which were rejected on May 27 (V. 84, p. 1320), were
awarded to the W ells-D ickey Co. of Minneapolis at 101.105
and accrued interest. The following bids were received:




Interest semi-annual. Official advertisement states that:
“ Proposals will also be received for a loan on the security
of the above-m entioned debentures for one year, with an
option of tw o years. Proposals to state margin and rate of
interest.”
Hancock County (P. O. Carthage), 111.— Bond Sale.— On
June 7 the $125,000 5 % coupon court-house bonds dated
July 1 and described in V. 84, p. 1263, were awarded to
D evitt, Tremble & Co. of Chicago at 102.40 and accrued in­
terest. The follow ing bids were received:
D e v lt t , T r e m b le & C o .,C h .$ 1 2 8 ,0 0 0
T . J. B o lg e r C o ., C h ica g o 127 ,510
W . J . H a y e s & S on s, C le . 127 ,174
N . W . H a ls e y & C o ., C h ic 127 ,035

00 | E . K . B o is o t , C h ic a g o ...$ 1 2 7 ,0 2 5
0 0 1A . B . L e a ch & C o ., C h ic . 1 2 6 ,8 8 0
0 0 1H a r r ls T r .& S a v .B k ., C h ic 1 2 6 ,5 8 7
35 [S ta te B a n k o f N a u v o o . . 126 ,3 2 5

00
00
50
00

Harper Independent School District (P. O. Harper), Gil­
lespie County, Tex.— Bonds Registered and Sold.— The State
Comptroller on June 5 registered $3,000 4J^% 10-40-year

1441

THE CHRONICLE.

[V o l .

l x x x iy

.

London, Madison County, Ohio.— Bond Sale.— On June 10
(optional) school-house bonds dated May 1 1907. These
securities, we are inform ed, have been purchased b y the State the $5,000 5 % coupon electric-light-plant bonds described
in V. 84, p. 1264, were awarded to Hoehler & Cummings of
School Fund on a 4 % basis.
Hoboken, Hudson County, N. J.— Bonds Not Sold.— No Toledo at 105.055. Following are the bids:
C u m m in g s , T o l - -5 5 ,2 5 2 75 I O tis & H o u g h , C le v e la n d - - $ 5 ,1 8 3 00
sale was made on June 12 of the $22,000 4 % 20-year regis­ SHeoaesholen gr&
o o d & M a y e r, C in ___ 5,2 2 8 00 |D en ison & F a rn sw o rth , C le 5 ,1 5 3 50
tered or coupon judgm ent-funding bonds described in Y . 84, S e c . S a v .B k . & T r .C o . ,T o l - _ 5 ,2 1 0 00| F . L . F u ller & C o ., C l e v e - . 5 ,1 1 8 50
W e il, R o t h & C o ., C in ______ 5,205 50| N ew F irst N a tio n a l B a n k ,
p. 1263.
M ad ison N a t . B k ., L o n d o n 5,1 9 2 0 0 1 C o l u m b u s ------------------------- 5 ,0 6 2 50
Houlka, Chickasaw County, Miss.— Bond Offering.— Pro­
Los Angeles, Los Angeles County, Cal.— Bonds Voted.—
posals will be received at any time b y O. M. Harrill, Assistant
Tow n Clerk, for $5,000 6 % registered or coupon school- W e are advised that the election held June 12 resulted in a
building bonds. Denom ination $500. Date May 1 1907. vote of 21,923 “ fo r ” to 2,128 “ against” the proposition to
Interest semi-annually, place to be named by purchaser. issue the $23,000,000 Owens River water-supply bonds men­
Maturity May 1 1928. Bonds are tax-exem pt. The tow n has tion o f which was made in V . 84, p. 1069.
Louisburg School District (P. O. Louisburg), Franklin
no bonded debt at present. Assessed valuation 1907,
County, N. C.— Bond Sale.— On June 10 the $10,000 5 %
$125,000.
30-year coupon school-building bonds described in Y . 84, p.
Inkster School District (P. O. Inkster), Grand Forks
County, N. D .— Bonds Voted.— A t an election held June 4 1385, were awarded to S. A. Kean of Chicago at 101.
Lumberton, Robeson County, N. C.— Bond Sale.— On June
this district authorized the issuance of $9,350 4 % 20-year
building bonds b y a vote of 66 to 20. Date of sale not yet 8 the $25,000 5J^% 30-year gold coupon graded-schoolbuilding bonds described in V. 84, p. 1385, were awarded to
determined.
Inman School District (P. O. Inman), Spartanburg John Nuveen & Co. of Chicago at 100.80.
Madison County (P. O. Jackson), Tenn.— No Action Yet
County, S. C.— Bond Sale.— On May 20 the $8,000 6 % 30year coupon school-building bonds described in V. 84, p. Taken.— We are inform ed that no further action has yet
1197, were awarded to the Security Trust Co. of Spartanburg been taken looking towards the issuance of the $200,000
good-road bonds voted on May 25.
at par, accrued interest and all expenses.
Mahoning County (P. O. Youngstown), Ohio.— Bond
Ionia City, Ionia County, Mich.— Bond Sale.— On June 4
the $20,000 5 % 5-14-year (serial) city-hall bonds dated Aug. Offering.— Proposals will be received until 10 a. m . June 24
1 1907 and described in V. 84, p. 1264, were awarded to the b y the County Commissioners for $350,000 4J^% courtHarris Trust & Savings Bank of Chicago at 105.195 and ac­ house-and-jail bonds. A uthority, Section 870 and 871,
crued interest— a basis of about 4.3 2 8 % . The follow ing Revised Statutes. Denom ination $1,000. Date July 1
1907. Interest semi-annually March 1 and Sept. 1 at the
bids, were received:
H arris T r .& S a v .B k ., C h i . $21 ,039 00| N . W . H a ls e y & C o ., C h i_ $ 2 0 ,7 7 5 00
County Treasurer’s office. M aturity $7,000 each six months
C. H . C o ffin , C h ic a g o ____ 20,964 0 0 | W . E. M oss & C o ., D e tr o it 20,771 00
from March 1 1908 to Sept. 1 1932 inclusive. Bids must be
R . K le y b o lt e & C o ., C h ic . 20,9 3 5 00| M ason , L ew is & C o ., C h ic . 20,7 5 4 00
unconditional and accom panied b y a certified check for
H a l H . S m it h ______________ 2 0 ,9 0 6 35 |S e a s o n g o o d & M a y e r, C in 2 0 ,4 6 6 00
$10,000 on some bank of Mahoning County and made payable
In addition to the above eight other bids were received.
to F. A. Hartenstein, County Treasurer. Bonds are exem pt
Ionia County (P. O. Ionia), Mich.— Bond Sale.— On June
5 the $35,000 4J^% poorhouse bonds described in V. 84, p. from taxation. Official circular states that the county has
1136, were awarded, it is stated, to John A . W ebber of Port­ always paid principal and interest prom ptly at m aturity.
Marion, Marion County, Ohio.— Bond Offering.— Proposals
land for $35,150— the price thus being 100.428. Maturity
will be received until 4 p. m. July 10 by S. T. Quigley,
$7,000 yearly on March 5 from 1908 to 1912 inclusive.
City Auditor, for the $3,600 Prospect Street, $700 Girard
Ironton School District (P .O . Ironton), Lawrence County,
Avenue, $700 Cherry Street, $4,000 Park Boulevard and
Ohio.— Bond Offering.— Proposals will be received until
$1,000 Grand Avenue 4 ^ % coupon im provem ent (city ’s
1 p. m. July 1 by D. L. Ogg, Clerk of the Board of Educa­
portion) bonds m entioned in V. 84, p. 1385. Authority
tion, for $9,500 4 % coupon public-school-building and siteSection 53, Municipal Code. Denom ination $1,000. Date
purchase bonds. Authority Section 3094 o f the Revised
June 1 1907. Interest March and September at the City
Statutes. Denom ination $500. Date July 1 1907. Inter­
Treasurer’s office. Maturity $1,000 yearly on March 1 from
est semi-annually at the National Park Bank of New Y ork
1911 to 1920 inclusive. Certified check for $100, payable
City. Maturity July 1 1927. Accrued interest to be paid
to the City Treasurer, is required.
b y purchaser.
Marion School District No. 52 (P. O. Marion), Williamson
Jackson, Jackson County, Mich.— Bond Offering.— Pro­
County, 111.— Bond Offering.— Proposals will be received
posals will be received until 5 p. m. June 17 b y Jode H arring­
until 3:30 p. m . June 22 b y John M. D odd, Secretary of
ton , City R ecorder, for $15,000 4 % coupon paving bonds. Board of Education, for the $15,000 4 % coupon schoolDenom ination $1,000. Date Aug. 1 1907. Interest annual.
building bonds voted on May 11. Denom ination $500.
M aturity Aug. 1 1922. Certified check for $250 is required.
Date July 1 1907. Interest semi-annually at the American
Purchaser to pay accrued interest.
Trust Com pany of Chicago. Maturity $1,000 yearly on
Jackson, Hinds County, Miss.— Bids.— The follow ing bids July 1 from 1910 to 1924 inclusive. Bonded debt, including
were received on June 4 for the $50,000 5 % 20-year m unici­ this issue, $31,500. Assessed valuation 1906, $559,383.
pal-building and im provem ent bonds awarded, as stated in
Marshall, Harrison County, Tex.— Bond Offering.— Fur­
last w eek’s issue, to E. H. Rollins & Sons of Chicago at 103.31 ther details are at hand relative to the offering on June 25 of
and accrued interest:
the $30,000 5 % sidewalk-paving bonds m entioned in V. 84,
E . H . R o llin s & S o n s , C h ic a ? 5 1 ,6 5 5 ;B e n H . W e lls, J a c k s o n _______ $51 ,2 0 0
p. 1385. Bonds will be offered at public auction at 4 p. m.
C. H . C o ffin , C h ic a g o ________ 5 1 ,8 0 1 1S e a s o n g o o d & M a y e r, C in _____51,1 4 0
S p itz er & C o ., N ew Y o r k ___ J 5 1 ,4 5 8 E m e r y , A n d e r s o n & C o .,C le v . 5 1 ,0 0 5
on that day at the office of H. S. R ice, City Secretary.
\ 651,833 M e rch a n ts’ B a n k , J a c k s o n ___ 50,8 7 7
These securities are part of an issue of $90,000 authorized b y
W e il, R o t h & C o ., C in cin n a ti. 5 1 ,375 |S. A . K e a n , C h ic a g o __________ 50,6 5 0
an A ct of the Legislature of 1907. Denom ination $1,000.
a A n d a c c r u e d in terest,
b In te re s t t o b e p a y a b le in N e w Y o r k .
Date July 1 1907. Interest semi-annually at the Hanover
Jay County (P. O. Portland), Ind.— Bond Sale.— On June National Bank in New Y ork. Maturity July 1 1947, subject
7 the $22,000 6 % 2 2-3-year (average) coupon Salamonia to call after July 1 1917. Certified check for $1,000 on some
ditch bonds described in V. 84, p. 1197, were awarded to bank in Marshall and made payable to the City Secretary
W . J. Hayes & Sons of Cleveland for $22,243— the price thus is required. Official circular states there is no controversy
being 101.104. Bids were also received from S. A . Kean or litigation pending threatening the corporate existence or
and J. M. Holmes, both of Chicago.
the boundaries of this m unicipality, or the title of its present
Jersey City, Hudson County, N. J.— Bond Sale.— On June officials to their respective offices, or the validity of these
12 the $255,000 4 ^ % 30-year gold coupon water refunding bonds, and that no previous issues have ever been contested;
bonds described in V. 84, p. 1384, were awarded to A . B. also that there has never been any default in the paym ent
Leach & Co. of New Y ork City at 102.178— a basis of about of principal or interest.
4 .3 7 % . Following are the bids:
Martin’s Ferry, Belmont County, Ohio.— Bond Sale.—
A . B . L e a ch & C o ., N . Y ____ 102 .178 |K o u n t z e B r o s .. N. Y _________100.671
This city on June 7 awarded an issue of $20,000 5 % streetF ifth W a r d S a v .B k . o f J .C it y lO l.O O jJ . D . E v e r it t & C o ., N . Y . . . 100 .57
iinprovem ent bonds to the Union Savings Bank & Trust Co.
Kitsap County School District No. 20, W ash.— Bond Sale.
— This district on June 4 awarded $1,060 5 % school bonds to of Cincinnati at 109.05. Following are the bids:
the State of Washington at par.
Laurens School District (P. O. Laurens), Laurens County,
S. C.— Bond Sale.— On May 25 the $30,000 5 % 30-year
school-building bonds dated July 1 1907 and described in
V . 84, p. 1069, were awarded to the Security Trust Co. of
Spartanburg at 102.25.
Lawton, Comanche County, Okla.— Bonds Awarded in
P art.— On June 5 $60,000 of the $260,000 5 % 30-year
coupon bonds offered on May 11 (V. 84, p. 954) were awarded
to the First National Bank of Law ton at par. Securities are
dated July 1 1907.
Lennox, Lincoln County, S. D .— Bond Sale.— This city re­
cently disposed of the $3,000 5 % 5-year sewer-system bonds
mentioned in V. 84, p. 1069.
Liberty ville, Lake County, 111.— Bond Election.— An
election will be held shortly to vote on the question of issuing
$8,000 bonds.




U n io n S a v .B k .& T r .C o .,C in $ 2 1 ,8 1 0 ,0 0 | P r o v .S a v .B k .& T r .C o .,C I n $ 2 1 ,375 00
W e il, R o t h & C o ., C in ____ 2 1 ,718 0 0 1H a y d e n , M iller & C o ., C le . 2 0 ,8 1 1 0 0
H o e h le r& C u m m in g s , T o l - 21,6 8 2 501 F . L . F u lle r & C o ., C leve_ 2 0 ,676 50
S e a s o n g o o d & M a y e r, C i n - . 21,532 0 0 f N e w F irst N a t. B k ., C olu m 2 0 ,6 0 0 00
O tis & H o u g h , C le v e la n d - 21,4 2 2 0 0 1P e o p le ’ s S a v in g s B a n k C o .,
S e c .S a v .B k .& T r .C o ., T o l . 2 1 ,4 1 0 001
M a rtin s F e r r y . . ............... 2 0 ,2 6 8 00

Securities are dated June 1 1907. Interest annually in
September. M aturity from Sept. 1 1917 to Sept. 1 1927.
Medford, Jackson County, Ore.— Bonds Voted.— Local
papers state that on June 3 the electors of this city voted in
favor of an am endment to the city charter providing for the
issuance of $200,000 water-system bonds.
Milford, New Haven County, Conn.— Bonds Not Sold.—
No bids were received on June 12 for the $50,000 4 % 25-year
coupon bonds described in V. 84, p. 1137.
Mineral Point, Iowa County, W is.— Bonds Voted.— An
election held June 4 resulted in a vote of 351 to 139 in favor
of a proposition to issue $40,000 municipal-building bonds.
Date of sale and details of bonds not y et decided.

J u n e 15 1907.J

THE CHRONICLE.

Minerva, Stark County, Ohio.— Bond Offering.— Proposals
will be received until 12 m. June 27 by Austin H . Freed,
Village Clerk, for the following bonds:
$ 12 ,4 0 0 5 % c o u p o n
assessm en t
s tr e e t-p a v in g
bon d s.
D e n o m in a tio n
5 1 ,2 4 0 . M a tu r ity $1,2 4 0 y e a r ly o n Ju n e 27 fro m 1908 t o 1917
in clu siv e.
4 , GOO 5 % c o u p o n s tr e e t-p a v in g b o n d s .
D e n o m in a tio n S460. M a tu rity
$460 y e a r ly o n Ju n e 27 fro m 1908 t o 1917 in c lu s iv e .

A uthority Section 2835, Revised Statutes. Date June 27
1907. Interest semi-annual.
Certified check for 5 % of
bonds bid for, payable to the Village Treasurer, is required.
Accrued interest to be paid b y purchaser. Bonded debt,
n ot including these issues, $28,640. Assessed valuation
$448,990.
Minneapolis, Minn.— Bond Sale.— On June 12 the $100,000
permanent im provem ent fund and $250,000 permanent-im provem ent revolving fund 4 % 30-year bonds described in
V. 84, p. 1264, were awarded to C. S. Hulbert at par.
Monroe Union Free School District No. 1 (P. O. Monroe),
Orange County, N. Y .— Bond Offering.— Proposals will be
received until 4 p. m . June 18 b y Stacy A . Gaunt, Clerk of
Board of Education, for $40,000 4 % school-building bonds.
Denom ination $1,000. Date July 1 1907. Interest annual.
Maturity $1,000 yearly on Jan. 1 from 1915 to 1954 inclusive.
Montgomery County (P. O. Montgomery), Ala.— Bond
Offering.— Proposals will be received until 12 m . July 1 by
the Board of Revenue for the $250,000 4 3^% public-road
bonds bids for which were rejected on June 3. See V. 84,
p. 1386. Denom ination $500. Date Ju lyl 1907. Interest
semi-annually at the fiscal agency in New Y ork City or at
the County Treasurer’s office in M ontgom ery. Maturity
July 1 1957. Certified check for 1% o f the am ount b id ,
payable to S. T. W cstcott, Clerk o f the Board of Revenue, is
required.
The official notice of this bond offering wil be found among
the advertisements elsewhere in this Department.
Morgan County (P. O. Jacksonville), 111.— Bond Sale.—
On June 8 the $100,000 4 % 1-20-year (serial) registered
court-house refunding bonds described in V. 84, p. 1322,
were awarded to N. W . Halsf'j" & Co. of Chicago at 100. 10—
a basis of about 3.9 89% . The following bids were received:
N . W . H a ls ey & C o ., C h ic a g o ______________________________________ $ 1 0 0,10 0 00
N orth ern T ru s t C o ., C h ic a g o ______________________________________
98,8 0 0 00
A y e r s N a tion a l B a n k , J a c k s o n v ille (in c lu d in g lith o g ra p h w o rk )
9 8 ,5 0 0 00
H o c k e n h u ll-1 llio tt B a n k & T ru s t C o ., J a c k s o n v ille (fo r $80 ,000
m a tu r in g fro m 1912 t o 1927 in clu s iv e and $ 5 ,000 m a t ’ g 1910)
85,0 8 5 00
D u n la p , R u ssel & C o ., J a c k s o n v ille (fo r $ 2 ,000 m a tu r in g 1910
an d $3,0 0 0 in 1 9 1 1 )__________________________________________________ 5 ,0 0 0 00
G eorge L . M errill (fo r $2,0 0 0 m a tu r in g 1 9 1 1 ) ____________________ ___ 2 ,0 1 0 00
A y e rs N a t. B a n k , J a c k s o n v ille (fo r $ 5 ,000 m a tu r in g 1 9 0 8 )____ ___ 5 ,0 0 0 00
A y e rs N a t. B a n k , J a c k s o n v ille (fo r $ 3 ,000 m a tu r in g 1 9 0 9 )____ ___ 3 ,0 0 0 00

Napoleon, Henry County, Ohio.— Bond Offering.— Propos­
als will be received until 12 m. July 8 b y F. W . Hilgendorff,
Village Clerk, for the following bonds:
$ 1 ,2 0 0 5 % c o u p o n W e iste d S tre e t im p r o v e m e n t assessm ent b o n d s .
D e­
n o m in a tio n $240.
985 5 % c o u p o n W e iste d S tre e t sew erag e assessm ent b o n d s .
D e n o m i­
n a tio n $197.

The above bonds are dated March 1 1907. Interest semi­
annually at the Village Treasurer’s office. Maturity one
bon d of each issue yearly on March 1 from 1908 to 1912 in­
clusive. Bonds are tax exem pt. A New Y ork draft for
$100, payable to the Village Treasurer, is required with bids
for each issue. Successful bidder to furnish blank litho­
graphic form s at his own expense.
New Castle County (P. O. Wilmington), Del.— Bond
Offering.— Proposals will be received until 12 m. June 18 by
C. C. H opkins, Chairman Finance Committee, for $110,000
4 3^ % gold coupon highway im provem ent bonds, being part
of the authorized issue of $300,000 m entioned in V. 84, p.
955. Denom ination $1,000. Date June 1 1907. Interest
semi-annually at the Farmers’ Bank of W ilm ington. Ma­
turity $10,000 yearly from 1926 to 1930 inclusive and $15,000
yearly from 1931 to 1934 inclusive. Bids must be made on
blank form s furnished b y the coun ty. Certified check for
3 % of bonds bid for, drawn on a bank or trust com pany of
W ilm ington, is required. Delivery of bonds July 2 . Bonds
will be certified to as to their genuineness b y the Columbia
Trust Co. of New Y ork City and their legality approved by
Sylvester D. Townsend Jr., Levy Court A ttorney of New
Castle County, whose opinion will be engraved on the bonds.
Official circular states that the county has never defaulted
on its bonds or other obligations.
New Kensington School District (P. O. New Kensington),
Westmoreland County, P a .— Bond Sale.— On June 10 the
$60,000 43^% 15-30-year (optional) coupon high-schoolbuilding and site-purchase. bonds described in V. 84, p. 1386,
were awarded to N. W . Harris & Co. of New Y ork City at
101.68— a basis of about 4.347% to the optional date and
about 4.4 0% to full m aturity. Following are the bids:
N . W . H arris & C o ., N . Y — $ 6 1 ,0 0 8 | W . J . H a y e s & S o n s , B o s t o n _ $ 6 0 ,2 2 4
L a u ren ce B a r n u m & C o .,N .Y . 6 0 ,6 0 0 1S. A . K e a n , C h ic a g o __________ 6 0 ,060

Newton School District (P. O. Newton), Jasper Comity,
Iowa.— Bond Sale.— On June 6 the $40,000 43/2% 5-10-year
(optional) high-school-building bonds described in V. 84,
p. 829, were awarded to H. B. Alfree, of New ton, for $40,177
— the price thus being 100.442— a basis of about 4 .4 0 % to
the optional date and about 4.4 45% to full m aturity. Se­
curities are dated July 1 1907. Interest semi-annual.
Nicolet County School District No. 1, Minn.— Bond Sale.—
We have just been advised that the State of.M innesota pur­
chased at par on Feb. 18 an issue of $43,000 4 % bonds of




1445

this district. Denom ination $1,000. Interest annual. Ma­
turity $2,000 yearly from 1912 to 1919 inclusive and $3,000
yearly from 1920 to 1928 inclusive, all being subject to call
at any time.
Norris School District (P. O. Norris), Fulton County, 111.—
No Bonds Voted.— W e are inform ed that the report that this
district on May 18' voted to issue school-building bonds is
erroneous.
North Boyne School District (P. O. Boyne), Charlevoix
County, Mich.— Bonds Authorized.— The Board of Educa­
tion has authorized the issuance of $6,500 school-building
bonds.
Norwood (P. O. Ind. Sta. H, Cincinnati), Ohio.— Bond
ering.— Proposals will be received until 12 m. July 11 by
E. W ichgar, City Auditor, for the follow ing bonds:
$35 ,0 0 0 4 % v ia d u c t b o n d s . M a tu r ity J u ly 11 1927.
3 5 ,0 0 0 4 % m a rk e t-h o u s e b o n d s.
M a tu r ity J u ly 11 1 93 2.
6,5 0 0 4 % w a te r -m a in -e x te n s io n b o n d s .
M a tu r ity J u l y 11 19,32.

A uthority, ordinances passed b y the City Council April 15
1907. Denom ination $500. Date July 11 1907. Interest
semi-annual. Certified check for 5 % of bonds bid for, pay­
able to the City Treasurer, is required. Purchaser «to pay
accrued interest.
Oberlin, Lorain County, Ohio.— Bond Offering.— Proposals
will be received until 12 m. June 29 b y C. H. Snyder, Village
Clerk, for $38,000 4 % W est Lorain and North Professor
Street paving assessment bonds. A uthority Section 2835,
Revised Statutes, and an ordinance passed May 23 1907.
Denom ination $ 1,000. Date July 1 1907. Interest semi­
annual. Maturity $2,000 on July 1 1908 and $4,000 yearly
on July 1 from 1909 to 1917 inclusive. Certified check for
5 % of bonds bid for, payable to the Village Treasurer, is
required. Accrued interest to be paid b y purchaser.
Old Forge, Herkimer County, N. Y . — Bond Sale.— On
May 10 the $15,000 4 % coupon water-works bonds de­
scribed in V. 84, p. 1070, were awarded to Edm und Seym our
& Co. of New Y ork. Securities are dated June 10 1907 and
mature $600 yearly on June 10 from 1912 to 1936 inclusive.
Osceola School District (P. O. Osceola), Mississippi
County, Ark.— Bonds Not Sold.— Up to June 8 no sale had
been made of $25,000 6 % 20-year school-building bonds
offered on May 18. Denom ination $500. D ate day o f sale.
Interest annual. This district has no debt at present.
Pascagoula, Jackson County, Miss.— Bonds Proposed.—
The Mayor and Board of Aldermen are considering the ad­
visability of issuing $20,000 street-im provem ent bonds.
Paterson, Passaic County, N. J .— Bond Offering.— A tten ­
tion is called to the official advertisement elsewhere in this
Departm ent of the offering on June 20 of the $81,000 school
and $100,000 renewal 43^% coupon bonds. For details of
these bonds and terms of offering see V. 84, p. 1386.
Penfield Union Free School District No. 1 (P. O. Penfield),
Monroe County, N. Y .— Bond Offering.— Proposals will be
received until 2 p . m . June 20 b y the Board of Education at
the office of Clarence E. Shuster, 612 Ellwanger & Barry
Building, Rochester, for $15,000 5 % gold coupon (with
privilege of registration) school bonds. Authority Section
10, Title 8 , of the Consolidated School Law. Denom ination
$750. Date July 1 1907. Interest annually on D ec. 1 at
the National Bank of Commerce in Rochester. Maturity
$750 yearly on Dec. 1 from 1908 to 1927 inclusive. The per­
son or persons to w hom the bonds are awarded will be re­
quired to deposit with the Board of Education an am ount
equal to 5 % of bonds awarded them. Bonded debt, this
issue. Total assessed valuation 1907, $307,247.
Perinton, Monroe County, N. Y .— Bond Offering.— Pro­
posals will be received until 3 p. m. June 17 b y Thomas J.
Bridges, Tow n Supervisor, at the Tow n Clerk’s office (P. O.
Fairport), for the $25,000 registered town-hall bonds, bids
for which were rejected on Feb. 15. See V. 84, p. 466.
A uthority Section 190, Tow n Law. Denom ination $1,250.
Date June 17 1907. Interest (rate to be named in bids)
annually at the National Bank of Rochester, Rochester.
Maturity $1,250 yearly on June 17 from 1908 to 1927 in­
clusive. Certified check for 5 % of bonds bid for, payable to
Thomas J. Bridges, Tow n Supervisor, is required. Bonds
will be delivered July 1 at the National Bank o f Rochester.
Bonded debt, this issue. Assessed valuation, $3,061,607.
Peru Bottom Drainage District No. 1, Nemaha County,
Neb.— Bond Sale.— This district has awarded the $20,000
6 % 10-year coupon drainage-ditch bonds offered on M ay 25
(V. 84, p. 1265) to the Security Savings Bank & T rust Co.
of Toledo at 102.875.
Pomona, Los Angeles County, Cal.— Bonds Voted.— A t
the election held June 5 the propositions to issue $60,000
city-hall-building and $20,000 city-hall-site-purchase bonds
m entioned in V. 84, p. 1138, were carried b y a large m a jority .
Ponca City, Kay County, Okla.— Bond Offering Postponed.
— We are inform ed that the offering of the $20,000 sewer and
$12,500 water-works 5 % 20-year bonds described in V. 84,
p. 1199, which was to have taken place May 21, has been
postponed to June 18. Interest semi-annual. Certified
check for $500 must accom pany each bid.
Portland, Multnomah County, Ore.— Bonds Voted.— A t
the election held June 4 the four issues of 4 % bonds aggregat­
ing $5,225,000, m entioned in V. 84, p. 1322, were authorized.

1446

THE CHRONICLE.

Prentiss, Jefferson Davis County, Miss.— Bond Sale.—
This tow n on June 4 awarded the $15,000 6 % water-worksplant bonds authorized on May 9 (V. 84, p. 1322), to John
Nuveen & Co. of Chicago at par and all expenses. Denom i­
nation $1,000. Date June 1 1907. Interest semi-annual.
Rainier, Columbia County, Ore.— Bond Offering.— Propos­
als will be received until 12 m. to-day (June 15) by Ben. W .
Reed, Secretary of the W ater Commission, for $25,000 water
bonds at not exceeding 6 % interest. Denom ination “ not
less than $100 nor more than $1,000.” Date July 1 1907.
Interest payable at a designated fiscal agency in Portland.
M aturity July 1 1927, subject to call after July 1 1917.
Certified check for 2 % of bonds bid for is required.
Ray (P. O. International Falls), Koochiching County,
Minn.— Bond Sale.— On June 3 the $10,000 6 % coupon road
and bridge bonds described in V . 84, p. 1199, were awarded
to Wells & D ickey Co. of Minneapolis at par and accrued in­
terest.
Redondo Beach City School District, Los Angeles County,
Cal.—-Bond Sale.— An issue of $20,000 5 % 1-20-year (serial)
school-house bonds was awarded on May 20 to the Merchants’
Trust Co. of Los Angeles at 106.39. Denom ination $1,000.
Date May 20 1907. Interest annual.
Richmond, Henrico County, V a.— Bond Sale.— On June 10
the $186,600 4 % 34-year refunding bonds described in V. 84,
p. 1323, were awarded to the Commissioners of the Sinking
Fund at par. No other bids were received.
Rochester, N. Y .— Temporary Loan.— On June 11 $200,000
local im provem ent renewal notes were awarded to the Se­
curity Trust Co. o f Rochester— $100,000 at 4 .7 0 % and
$100,000 at 4.8 7 5 % . The bids were as follows:
S e c u r ity T ru s t C o ., R o c h e s t e r ____ J $ 1 0 0 ,0 0 0 __________________________ 4 . 7 0 %
1 1 0 0 ,0 0 0 _____________ ___________ 4 .8 7 5 %
B r o a d w a y S a v in gs I n s titu tio n , N . Y . , $ 2 0 0 ,0 0 0 —-4 .7 5 % an d $5 p re m iu m
W . S. K e n d a ll, N ew Y o r k , $ 2 5 ,0 0 0 ____________________________________ 5 .0 5 %
T h e B a n k fo r S a v in g s, N ew Y o r k , $ 2 0 0 ,0 0 0 — 5.25 % a n d $12 p rem iu m

Rockaway Township, Morris County, N .J.— Bonds Voted.
— An election held June 8 resulted in favor of a proposition
to issue $4,000 school-house bonds.
Rockford, Mercer County, Ohio.— Bonds Not Sold.— No
sale was made on June 1 of the $3,800 43^% 1-10-year
(serial) coupon Market Street (village's portion) im prove­
ment bonds described in V. 84, p. 1199. These bonds, we are
inform ed, will be re-offered as 5s.
Rockford Township (P. O. Buffalo), Wright County,
Minn.— Bond Offering.— Proposals will be received until
10 a. m . June 22 b y the Town Board, W . P. McCardell,
Clerk, for $1,200 6 % registered town-hall bonds. Interest
payable at the Town Treasurer's office in R ockford. Ma­
turity $600 in one year and $600 in two years.
Rockville Centre, Nassau County, N. Y .— Bond Sale.—
This village on June 11 awarded an issue of $5,000 1-10-year
(serial) water bonds to the Bank of Rockville Centre at par
for 4.40s. Denomination $500. Date July 1 1907. Inter­
est semi-annually at the Bank of Rockville Centre.
Rule Independent School District (P. O. Rule), Haskell
County, Texas.— Bond Sale.— The State School Fund recent­
ly purchased the $12,500 5 % 10-40-year (optional) schoolhouse bonds registered on May 29 (V. 84, p. 1387), on a 4 %
basis.
Sabina, Clinton County, Ohio.— Bond Election.— A propo­
sition to issue $40,000 school-building and repair bonds will
be subm itted to a vote on June 22.
St. Francis Drainage District, Ark.— Bond Offering.—
Proposals will be received until 12 m . July 8 b y G. W .
Seitz, Secretary (P. O. P iggott), for $150,000 bonds at not
exceeding 6 % interest. Authority Page 661, Acts o f 1905.
Denomination $1,000. Maturity forty years, subject to call
after thirty years. Certified check for $1,000 is required.
St. Francis Levee District, Arkansas.— Bond Offering.—
Further details are at hand relative to the offering of the
$500,000 6 % coupon levee-building bonds mentioned in
V. 84, p. 1324. Proposals for these bonds will be received
until 12 m . to-day (June 15) by H. D. Tom linson, Secretary,
162 Randolph Building, Memphis, Tennessee, and W . B.
Miller, President. Authority, an A ct of the General Assem­
b ly, approved May 14 1907. Denomination $1,000. Date
July 1 1907. Interest semi-annually in New Y ork or Mem­
phis, Tennessee. Maturity July 1 1947. Subject to call
after July 1 1937. Bonds are exem pt from taxation. Certi­
fied check for 2 J^% of bid, payable to James R . Bush,
Treasurer, is required.
St. George Special School District No. 5, Dorchester
County, So. Car.— Bond Sale.— On May 24 the $8,000 6 %
1-16-year (serial) coupon school bonds described in V. 84,
p. 1265, were awarded to C. H. Coffin & Co. of Chicago at
100.325.
Salt Lake County (P.O. Salt Lake City), Utah.— Temporary
Loan.— This county recently negotiated a loan of $60,000
with a local banker at 5 % interest.
San Antonio, Bexar County, Texas.— Bond Sale.— On
June 5 the $200,000 5 % 20-40-year (optional) school-bu’lding
bonds offered on that day (V. 84, p. 1266) were awarded to
E . H. Rollins & Sons of Chicago at 108.55 and accrued inter­
est— a basis of about 4.356% to the optional date and about
4.594% to full m aturity. Following are the bids:




[V o l . l x x x i v

.

E . H . R o llin s & S on s, C h ic_ .$ 2 1 7 ,1 0 0 | A m .B k .& T r .C o ., San A n to n $ 2 0 8 ,0 0 0
R . K le y b o lte & C o ., C h ica g o 2 1 0 ,1 6 5 IS p ltz e r & C o ., T o le d o _______ 207 ,4 0 0
S an A n . N a t .B k ., San A n ._ 2 10 ,000 C ity N a tio n a l B a n k , San
W e il, R o t h & C o ., C ln c in ___ 209,250|
A n t o n i o ___________________ »52,1S 5
* F o r $ 5 0 ,0 0 0 b o n d s .

Denom ination $1,000. Date May 10 1907. Interest
semi-annual.
Sandusky, Erie County, Ohio.— Bonds Authorized.— The
City Council on May 20 passed an ordinance providing for
the issuance of $5,000 4 % 9-year coupon sewer-construction
(city's portion) bonds. Denom ination $1,000. Date March
1 1907. Interest semi-annual.
Sapulpa, Ind. Ter.— Bond Sale.— On June 5 the $37,000
sewer, the $12,000 school house and the $6,000 water-worksextension 20-year bonds described in V. 84, p. 1324, were
awarded to A . J. McMahon o f Oklahoma City as 5s.
Sherman, Grayson County, Texas.— Bond Offering.— Pro­
posals will be received until 8 p . m . July 15 b y Henry Zim­
merman, City Secretary, for the $27,000 4J^% public-schoolbuilding and im provem ent bonds voted on April 23. De­
nomination $1,000. Date July 1 1907. Interest semi­
annually at the National Park Bank in New Y ork City.
M aturity $1,000 yearly on July 1 from 1908 to 1934 inclusive.
Certified check for $500, payable to C. E . Craycroft, M ayor,
is required. Purchaser to pay accrued interest.
Smith’s Falls, Ont.— Debentures Not Sold.— No sale was
made on June 3 of the four issues of 4 % and 4J^% 20-year
and 35-year debentures, aggregating $26,971 44, described
in V. 84, p. 1266.
Springfield Township, Jefferson County, Ohio.— Bond
Offering.— Proposals will be received until 12 m . July 11 by
the Township Trustees (P. O. Bergholz) for $25,000 4J^%
road-im provem ent bonds. A u th ority Section 4686, Revised
Statutes. Denom ination $500. Date July 1 1907. Interest
semi-annually at the Township Treasurer’s office in Bergholz.
Maturity as follows:
$1,000
1,000
500
500
500
500
500
500
500
1500

Jan.
July
Jan.
Jan.
July
Jan.
July
Jan.
Jan.
July

1 '1 0 1$500
1 ’ 10| 500
1 ’ 1 1 1 500
1 ’ 12 | 500
1 ’ 12| 500
1 ’ 131 500
1 ’ 13| 500
1 ’ 1 4 1 500
1 ’ 151 500
1 ’ 15| 500

Jan.
Jan.
July
Jan.
Jan.
July
Jan.
Jan.
July
Jan.

1 ’ 16IS500
1 ’ 17 I 500
1 '17 | 500
1 ’ 181 500
1 ’ 1 9 1 500
1 ’ 1 9 1 500
1 ’ 2 0 1 500
1 ’2 1 1 500
1 '2 1 1 500
1 ’221 500

July
Jan.
July
Jan.
July
Jan.
July
Jan.
July
Jan.

1 '22IS500
1 ’23 i 500
1 ’23 I 500
1 ’24 | 500
1 ’2 4 1 500
1 ’251 500
1 ’ 2 5 1 500
1 ’ 2 6 1 500
1 ’ 26 I 500
1 ’ 271 500

July
Jan.
July
Jan.
July
Jan.
J u ly
Jan.
July
Jan.

1 ’27IS500
1 ’281 500
1 ’2 8 1 500
1 ’ 29! 500
1 ’ 2 9 1 500
1 ’3 0 1 500
1 ’3 0 1 500
1 '311 500
1 ’3 1 1
1 ’3 2 1

July
Jan.
July
Jan.
July
Jan.
July
Jan.

1
1
1
1
1
1
1
1

’32
’33
’33
’34
’34
’35
'35
'36

Certified check for 5 % o f bonds bid for, payable to the
Township Trustees, is required. Bonds to be delivered on
or before July 31 at the Township Treasurer's office.
Steuben County (P. 0 . Bath), N. Y .— Bond Offering.—
Proposals will be received until 2 p. m . June 29 b y Frederick
W . Hastings, Clerk of the Board of Supervisors, for $20,000
4 % registered jail bonds. A uthority an A ct of the Board
of Supervisors adopted M ay 21 1907. Denom ination $1,000.
Date July 1 1907. Interest payable annually at the Farmers’
& Mechanics' Bank in Bath. M aturity $5,000 yearly on
July 1 from 1908 to 1911 inclusive. Certified check for $500,
payable to the Clerk of the Board of Supervisors, is required.
Stow Township School District (P. O. Cuyahoga Falls),
Summit County, Ohio.— Bond Sale.— On June 8 the $13,000
4 % 3-15-year (serial) registered school-building and sitepurchase bonds described in V. 84, p. 1387, were awarded
to S. A. Kean of Chicago at 100.10.
Sugar Creek Township ( P . O. Gomer), Allen County, Ohio
— Bond Sale.— On May 18 the $2,000 6 % 2-5-year (serial)
public-hall bonds described in V. 84, p. 1072, were awarded
to R . N. Jones at 102.75— a basis of about 5.132% .
Syracuse, Onondaga County, N. Y .— Bond Sale.— On June
4 the $213,750 1-19-year (serial) high-school and the $65,000
1-20-year (serial) Salina school 4 ^ % registered bonds
described in V. 84, p. 1266, were awarded to O'Connor &
Kahler of New Y o rk City at 102.38 and 102.47 respectively—
a basis of about 4 .2 0 7 % on both issues. The follow ing bids
were received:
$ 2 1 3,75 0
$ 65,000
H io h -S ch o ol S a lin a Sen
B o n d s.
B on d s.
O ’ C o n n o r & K a h le r, N e w Y o r k ------------------------------------- 102 .3 8
102 .47
A . B . L e a ch & C o ., N e w Y o r k _________________________ 102 .1 7 8
102 .1 7 8
K o u n tz e B r o th e r s , N e w Y o r k ___________________________ 1 0 2 .1 3 3 *
102 .34
N . W . H a lse y & C o ., N ew Y o r k ------------------------------------- 1 0 2 .0 7 7
102 .277
E d m u n d S e y m o u r & C o ., N ew York___________________ 1 0 1 .9 5 1 7
101 .8 6 1 7
G eorg e M . H a h n , N e w Y o r k ____________________________ 1 0 1 .6 7
1 01 .43
W . J . H a y e s & S o n s, C le v e la n d ________________________ 101 .1 2
101.11

Tekamah, Burt County, Neb.— Bonds Not Sold.— We are
advised under date of June 5 that no sale has yet been made
of the $10,000 electric-light-plant and the $2,500 waterextension?coupon bonds described in V. 84, p. 1072.
Telegraph School District, San Joaquin County, Cal.—
Bond Sale.— On June 4 $2,000 6 % 10-year school-building
bonds were awarded to T. E. Wilkinson of Lodi at 105— a
basis of about 5 .3 4 8 % . Denom ination $200. Date May 7
1907. Interest annual. A bid of 101 was also received from
W . F. Keeney.
Timpson School District (P. O. Timpson), Shelby County,
Tex.— Bond Election.— L ocal papers state that an election
will be held July 6 to vote on a proposition to issue $18,000
5 % 40-year school-im provem ent and refunding bonds.
Tuscaloosa, Tuscaloosa County, Ala.— Bond Sale Post­
poned.— W e are inform ed that the sale of the $125,000 5 %
coupon water-works bonds which was to have taken place
June 6 (V . 84, p. 1201) has been postponed for the time be­
ing, pending a* decision o f the State Supreme Court as to the
validity of the issue.

1447

THE CHRONICLE.

J u n e 15 1907.]

Union Township, Warren County, Ohio.— Bond Offering.—
Proposals will be received until 12 m. July 8 b y George
Cooper, Township Clerk (P. O. South Lebanon), for $5,000
43^% coupon public-hall and public-office bonds. Authority, Section 2835 of the Revised Statutes. Denom ination $250. Date July 1 1907. Interest March 1 and Sept. 1.
M aturity $250 each six months from March 1 1908 to Sept. 1
1917 inclusive. Certified check for 3 % of bonds bid for,
payable to the Township Treasurer is required. Purchaser
to pay accrued interest.

$4,630 4 % coupon Mound Hill Cemetery enlargement and
im provement bonds. Authority, Sections 1472 and 2835
of the Revised Statutes. Denomination $1,000, except one
| b on d for $630. Date July 6 1907. Interest annually at the
j office of the Township Trustees. Maturity on July 6 as fol­
; low s: $630 in 1908 and $1,000 yearly from 1909 to 1912 in­
, clusive. Certified check for $100, payable to the Township
! Treasurer, is required. Accrued interest to be paid b y
I purchaser.
Waterbury, New Haven County, Conn.— Bonds Not Sold.
| — No bids were received on June 10 for the $150,000 4 %
1-50-year (serial) street im provem ent bonds described in
V. 84, p . 1201.
Waterford, New London County, Conn.— Bonds Not Sold.
— R eports state that no sale was made on June 8 of the
$100,000 4 % 30-year coupon bonds described in V. 84, p.
1326.
Webster, Day County, So. D ak.— Bond Sale.— On June 10
the $10,000 5 % 10-20-year (optional) sewer bonds described
in V. 84, p. 1202, were awarded to D avid W illiams o f W ebster
at 101— a basis of about 4.8 73% to the optional date and
about 4.922% to full maturity.
West Burlington (P. O. Burlington), Des Moines County,
Iowa.— Bond Sale.— On June 3 an issue of $3,000 5 % water
bonds was awarded to Mrs. Eliza C. W est at 100.50. Date
June 15 1907. Interest annually on June 8. Maturity
June 15 1927, su bject to call at any time.

Unionville School District (P. O. Unionville), Putnam
County, Mo.— Bond Election.— An election will be held to-day
(June 15) to vote on the question of issuing $5,000 5 % 1020-year (optional) building bonds. Denom ination $500.
Date July 1 1907. Interest semi-annual. These securities,
if authorized, will take the place of the $4,000 bonds voted
on May 9. See V. 84, p. 1201. The first election was found
to be illegal.
Vaiden, Carroll County, Miss.— Bond Offering.— Further
details are at hand relative to the offering on July 1 of the
$4,000 5 % school-im proveinent bonds m entioned in V. 84,
p. 1387. Proposals will be received until 4 p. m. on that day
by P. T. Flowers, Tow n Clerk. A uthority Sections 3415,
3416, 3419 and 3420, Mississippi Code 1906. Denom ination
$500. Date July 1 1907. Interest annually b y the Town
Treasurer. Maturity July 1 1927. Certified check for 5°/0
of bond bid for, drawn on some bank of Vaiden and made
payable to P. T . Flowers, Tow n Clerk, is required. Bonds
Westchester County (P. 0 . White Plains), N. Y . — Bond
are tax-exem pt. Bonded debt this issue. Assessed valua­
O ffering.— Proposals will be received until 2 p . m . June 20 by
tion 1906 $400,000.
Joseph B. See, County Treasurer, for the follow ing bonds:
Ventura, Ventura County, Cal.— Bond Election Proposed.—
$ 27 ,6 7 7 04 4
% reg iste re d te m p o r a r y -lo a n b o n d s .
D en om in a tion . $ 5 ,0 0 0 ,
The City Trustees propose to call an election to submit to
e x c e p t o n e b o n d fo r $2,677 0 4 . M a tu r ity J u ly 1 1910.
the voters propositions to issue bonds for various local im ­ 2 75 ,0 0 0 00 43*2 % re giste re d c o u r t-h o u s e b o n d s. D e n o m in a tio n $ 5 ,0 0 0 .
M a tu r ity o n J u ly 1 as fo llo w s : $20 ,0 0 0 in 192 6, $25 ,0 0 0
provem ents.
in 192 7, $35,000 in 192 8, $ 25 ,000 in 192 9, $15 ,000 in
e a ch o f th e y e a rs 193 0, 1931 a n d 193 3, $ 35 ,000 in 193 4,
Waller County (P. O. Hempstead), Texas.— Bonds Regis­
$40 ,000 in 1935 a n d $50 ,0 0 0 in 1936.
tered.— On June 6 the State Comptroller registered $1,995
6 4 ,579 75 4 14 % re giste re d fu n d in g b o n d s .
D e n o m in a tio n $ 5 ,0 0 0 , e x ­
c e p t o n e b o n d o f $4,579 75. M a tu r ity $24 ,5 7 9 75 on
4 % bridge-repair bonds.
J u ly 1 1928 a n d $ 20 ,000 o n J u ly 1 in e a c h o f t h e y e a r s
1931 and 1933.
Washington Township, Preble County, Ohio.— Bond
Offering.— Proposals will be received until 1 p. m. July 6
Securities are dated July 1 1907. Interest sem i-annually
b y Hugh R . Gilmore, Township Clerk (P. O. Eaton), for at the County Treasurer’s office in W hite Plains. Certified

N E W LOANS.

N E W LOANS

N E W LOANS.

§ 25,000

^ 250,000

8 5 9 1 ,0 0 0 OO

Bullitt County Kentucky,

Montgomery, County, Alabama,

City of Minneapolis

ROAD BONDS

PUBLIC ROAD BONDS

BONDS

N o tic e Is h e r e b y g iv e n th a t th e B o a rd o f R e v e ­
n u e o f M o n tg o m e r y C o u n t y , A la b a m a , w ill r e c e iv e
se a le d b id s u n til 12 o c lo c k n o o n o n M O N D A Y
t h e F I R S T O F J U L Y 1907 fo r all o r a n y p o r t io n
o f an issu e o f t w o h u n d r e d a n d fif t y th o u s a n d
d o lla rs ($ 2 5 0 ,0 0 0 ) o f P u b lic R o a d B o n d s o f th e
C o u n ty o f M o n t g o m e r y , said b o n d s b e in g o f th e
d e n o m in a tio n o f fiv e h u n d re d d o lla rs e a ch an d
b e in g d a te d th e first d a y o f J u ly 1907 a n d p a y ­
a b le o n th e first d a y o f J u ly 1 95 7, an d b e a rin g
In terest fro m th e d a te o f th e sa id b o n d s a t th e
r a te o f fo u r a n d a h a lf p e r c e n t p e r a n n u m ,
In terest p a y a b le s e m i-a n n u a lly , p rin c ip a l a n d
In terest p a y a b le In th e C ity o f N e w Y o r k a t th e
fiscal a g e n c y o r a t th e o ffic e o f th e C o u n ty T r e a s ­
urer.
E a ch b id m u s t b e a c c o m p a n ie d b y a
c e r tflle d c h e c k fo r o n e p e r c e n t o f th e a m o u n t o f
th e said b id , said c h e c k p a y a b le t o th e o r d e r o f
S. T . W e s t c o t t , C lerk o f th e B o a r d o f R e v e n u e .
T h e c h e c k s o f u n s u cce s s fu l b id d e rs w ill b e r e ­
t u r n e d t o th e m w h e n th e b id s are o p e n e d a n d
d e c id e d u p o n a n d th e c h e c k o f th e s u cce ssfu l
b id d e r t o b e re ta in e d t o se cu re fa ith fu l p e r fo r m ­
a n c e o f th e b id . T h e rig h t is r e s e r v e d t o r e je c t
a n y a n d all b id s .
S. T . W E S T C O T T ,
C lerk o f B o a r d o f R e v e n u e o f M o n t g o m e r y C o u n t y

ca le d b id s w ill b e r e c e iv e d b y th e C o m m itte e
on W a y s an d M eans o f th e C ity C o u n c il o f th e
C ity o f M in n e a p o lis, M in n e so ta a t th e o ffic e o f
th e u n d e rs ig n e d , W E D N E S D A Y , J U N E 2 6 ,
190 7, a t 2’ o c lo c k p . m . fo r th e w h o le o r a n y
p a r t o $ 4 4 1 ,0 0 0 00 S c h o o l B o n d s an d fo r th e
w h o le o r a n y p a r t o f $ 1 5 0 ,0 0 0 00 P a rk B o n d s.
Said b o n d s be a r in te re s t a t th e ra te o f fou r
p e r ce n t (4 % ) p e r a n n u m , p a y a b le s e m i-a n n u a lly ,
d a te d J u ly 1, 1907. an d p a y a b le J u ly 1, 1937.
T h e rig h t t o r e je c t a n y o r all b id s is res e r v e d .
A ce rtifie d c h e c k fo r t w o p e r c e n t (2 % ) o f th e
p a r v a lu e o f th e b o n d s b id f o r , m a d e t o C. S .
H u lb e r t, C ity T re a su re r, m u s t a c c o m p a n y e a ch
b id .
C ircu lar co n ta in in g fu ll p a rticu la rs w ill b e
m a ile d o n a p p lic a tio n .
DAN. C BROW N,

S ealed b id s w ill b e re ce iv e d u p t o n o o n ,
J U N K 25, 1907, a t S h e p h e rd sv ille , K e n t u c k y ,
fo r th e p u rch a se o f $25 ,0 0 0 00 o f R o a d b o n d s o f
B u llitt C o u n ty , K e n t u c k y , m a d e p a y a b le t o
b e a r e r , a n d d ra w in g in te re st at fo u r an d o n e -h a lf
(4J^ % ) p e r c e n t p er an n u m fro m Ju n e 1, 1907,
p a y a b le s em i-a n n u a lly at th e F id e lity T ru s t C o m ­
p a n y o f L ou is v ille , K y ., as fo llo w s :
20 $100 b o n d s p a y a b le in fiv e y e a rs
6 $500 b i n d s p a y a b le In five years
6 $500 b o n d s p a y a b le in seven years
8 $500 and 1 $ 1 ,0 0 0 b o n d s , p a y a b le in te n ye a rs
6 $ 1 ,0 0 0 b o n d s p a y a b le in fifte e n yea rs
6 $1,0 0 0 b o n d s p a y a b le in tw e n ty y e a rs.
A n y o f said b o n d s m a y b e re d e e m e d a fte r fif­
te e n (15) y ea rs fro m d a te o f issue a t th e o p tio n
o f th e c o u n t y .
T h e rig h t t o r e je c t all b id s re ­
se r v e d , and b o n d s w ill n o t b e so ld fo r less th a n
fa c e v a lu e an d a c c r u e d in te re s t.
I n fo rm a tio n fu rn ish ed o n a p p lic a tio n .
J. F . CO M BS,

Commissioner.

^ 450,000

PENSACOLA, FLORIDA,
4J^% Improvement Bonds.
S ealed b id s w ill b e re c e iv e d b y th e B o a rd o*
B o n d T ru stees o f th e C ity o f P e n s a co la , F lo r id a ’
u n til J U L Y 9 T H , 1907, a t 12 o 'c l o c k n o o n fo r
th e p u rch a s e o f all o r a n y p a r t o f $450 ,000 4
%
I m p r o v e m e n t B on d s o f th e C ity o f P e n sa co la ,
F lo r id a . T h e le g a lity o f th e b o n d s w ill b e a p ­
p r o v e d b y M essrs. D illo n & H u b b a r d o f N ew
Y ork.
F u rth er p a rticu la rs w ith refe re n ce t o said
b o n d s an d b la n k fo rm s fo r b id s ca n b e had o n
a p p lic a tio n t o th e u n d e rs ig n e d o r t o th e U n ite d
S ta tes M ortg a g e & T ru st C o m p a n y . N ew Y o r k .

L. HILTON GREEN,

C h a irm a n B o a rd o f B o n d T ru stees,
P e n sa co la , F lo r id a .

Albert Kleybolte & Co.,
409

W a ln u t

S tre e t,

C IN C IN N A T I, O .

Municipal,
County, State,
and

H ig h -G r a d e P u b lic
S e c u r itie s

BANKERS,

60 State Street, Boston
S O M A 8 8 A D H TR .K ET, N E W Y O R K ..

STATE, C IT f & RAILROAD BONDS.

CORPORATION

181 L a Salle Street, Chicago.

H. C. Speer & Sons Co. BONDS WITHOR COUPONS
WITHOUT
w ith steel-p late bord ers, o r lith o g ra p h e d , o r p a rt­
ly p rinted fro m ty p e . I f th e latter, th e n can be




D E L IV E R E D

IN F E W

DAY

&

CO.,

BANKERS,
35 Congress Street,
BOSTON.

37 W a ll Street,
NEW YORK.

New York City Bonds
E X E M P T FR O M STA TE , COUNTY
AND C IT Y T A X E S

e is e l e & K in g ,
BANKERS,
M em bers o f N ew York and P h ila d elp h ia
S to ck E x ch a n g e s.
P r iv a te W ire s to
N .Y . and P h ila d elp h ia .

BOND S.

E stab lish e d 1880 .

First Nat. Bank Building, Chicago
CITY COUNTY
n A i u n Q
AND TOWNSHIP

L.

Specialists in New Jersey Securities.

Blodget, Merritt & Co , Mac Donald,McCoy & Co,,
AND

R.

S e r v ic e

C o rre sp o n d e n ce S olicited

MUHICIPAL

City Comptroller.

DAYS

Certificates e n gra v e d In b e st m anner, o r p artly
lithocraptied and p artly p rinted

ALBERT B. KING & CO., 206 Broadway, N. Y«

7 5 7 -7 5 9 Broad St.
N EW AR K .

F. B. SH ERM A N & CO.
MUNICIPAL
)
and
CORPORATION )

BONDS

205 La Salle Street, CH ICAG O

1448

THE CHRONICLE.

check for of 5 % bonds bid for, drawn on a State or national
bank or trust com pany, is required. These securities will be
certified as to their genuineness b y the United States M ort­
gage & Trust Co. of New Y ork City. They were offered with­
out success as 4s on May 6. See V . 84, p. 1141.
W est Orange, Essex County, N. J.— Bond Offering.—
Proposals will be received until 8 p. m. June 18 b y Joseph
M cD onough, Town Clerk, for $142,000 4J^% gold coupon
sewer bonds. Denom ination S I,000. Date June 1 1907.
Interest semi-annually at the Orange National Bank in
Orange. M aturity June 1 1917. Certified cheek for $1,000
on a State or national bank or trust com pany and made pay­
able to Edward A. McGuirk, Tow n Treasurer, is required.
Bids must be made on blank forms furnished by the city.
Bonds will be delivered July 1 at the office of the United
States Mortgage & Trust Co., New Y ork City. Accrued
ijxterest to be paid b y purchaser. These securities will be
certified to as to their genuineness b y the United States Mort­
gage & Trust Co. and their legality approved b y J. H. Cald­
well of New Y ork City, whose opinion will be furnished to
purchaser.
Wetaskiwin, Alta.— Debenture Offering.— Proposals will be
received until 8 p. m. July 2 by James W . H ey, Secretary
and Treasurer, for the follow ing b on d s’
$ 9 0 ,0 0 0
5 0 .0 0 0
3 0 .0 0 0
2 ,5 0 0

5%
5%
5%
5%

5 0 -y e a r w a te r-w o rk s d e b e n tu re s .
D e n o m in a tio n $ 1 ,0 0 0 .
5 0 -y e a r sew er d e b e n tu re s .
D e n o m in a tio n SI ,000.
2 0 -y e a r e le ctr ic -lig h t d e b e n tu re s .
D e n o m in a tio n 5 1 ,0 0 0 .
2 0 -y e a r h o s p ita l d e b e n tu re s .

White Plains, Westchester County, N. Y . — Bond Sale.—
On June 10 the $23,000 43^% 30-year funding bonds and the
$3,000 4 % 30-year sewer bonds mentioned in V. 84, p. 1389,
were awarded, it is stated, to Adam s & Co. of New Y ork City
at 102.125.
Bonds Not Sold.— Reports state that no bids were received
for the $20,000 4 % 32-35-year (serial) water bonds offered
on the same day.
Williamston, Martin County, No. Car,— Bond Offering.—
Proposals will be received until 12 m . July 10 for the $8,000
5 % city-hall and market bonds voted on May 7. Interest
semi-annual. Maturity thirty years. C. H. Goodwin is
Tow n Clerk.

N E W LOANS.
^ 8 1 ,0 0 0

City of Paterson, N. J.,
SCHOOL, B O N D S

and

5
^ 1 0 0 ,0 0 0

[V o l .

Winchester, Clark County, K y .— Bond Offering.— Propos­
als will be received until 2 p. m. June 25 by W . A . Attersall
Mayor, for $40,000 4 % bonds. Denom ination $1,000. In ­
terest semi-annual. Maturity tw enty years. Certified
check for $500, payable to N. H. W itherspoon, City Treas­
urer, is required.
Winston-Salem, Forsyth County, N. C.— Bond Election.—
A ccording to local reports an election will be held Aug. 6 to
vote on the question of issuing $150,000 street-improvement
and sewer-extension bonds.
Worthington School District (P. O. Worthington), Nobles
County, Minn.— Bonds Defeated.— An election held June 8
resulted in the defeat of a proposition to issue $20,000 schoolbuilding bonds.
Yellow Springs, Greene County, Ohio.— Bond O ffering.—
Proposals will be received until 12 m. June 22 by the Village
Council at the office of H . L. H ackett, Village Clerk, for
$1,930 5 % funding bonds. Denom ination $100, except one
bond for $130. Date July 1 1907. Interest semi-annual.
Maturity July 1 1913.
Yonkers, Westchester County, N. Y .— Bond Sale.— On
June 12 the $7,000 4 ^ % 9 1 -3 -year public-building and
D ock Street bonds described in V . 84, p. 1389, were awarded
to the People’s Savings Bank of Yonkers at 101.86. Follow ­
ing are the bids:
H
P e o p le ’s S a v . B a n k , Y on k ers-10 1.8G | A d a m s & C o ., N e w Y o r k ______100 .30
G e o . M. H a h n , N ew Y o r k ____ 100.53| S. A . K e a n , C h ic a g o ___________ 100 .10
Y o n k e r s S a v . B a n k , Y o n k e r s . 1 0 0 .3 8 1

Bonds Not Sold.— No sale was made on June 13 of the
$150,000 4 % 20-year water bonds described in V. 84, p. 1389.
These securities, we are inform ed, will be re-offered as 4

N E W LOANS.

M IS C E L L A N E O U S .
1800

$ 6 0 6 ,0 0 0

Perry, Coffin & Burr,

INVESTMENT BONDS
60 State Street,
BOSTON.

A Financial Courtship
ERVIN & COM PA N Y,
BANKERS,

lasuei

G auranteed C o n tracts

JOHN P. M UNN, M.D., President.
P ln a o c e C o m m itte e
/A M E S R. PLUM.....................................................Leather
CLARENCE H . KELttEY. Pres. Title Qnar. * Tr.Ckt.
WM. H . PO R TE R-..P res. Chemical National Bank
G o o d m e n , w h eth er ex p erien ced In life Insurance
o r n o t , m a y m a k e d ire ct c o n tr a c ts w ith this C o m ­
p a n y , for a lim ited te rrito ry If d e s ir e d ,a n d secu re
for th e m s e lv e s . In a d d itio n t o first y ea r's c o m m is ­
s io n . a r c s e w a l Interest Insuring an Incom e for th e
fu tu r e .
A d d ress the C o m p a n y at Its H o m e O ffice ,
N o . 277 B ro a d w a y N ew Y o rk C ity .
TH E

N O R TH E R N A U D IT CO.
554 B r o a d w a y , N ew Y o r k

CHAS. GRISWOLD BOURNE, President
T e le p h o n e 4582 Broad

I I A N D - 13 O O K
OF

Railroad Securities

^New York Btock Sxeh&nge,

New York

(Issued 8eml-Annually by the Publishers of the
C o m m e r c ia l & F in a n c ia l C u k o n ic lk .)
.

Philadelphia.

JULY, 1907, EDITION.
T E R VIH

MUNICIPAL AND RAILROAD

BONDS.

IN V E S T M E N T BO N D S

LIST ON AP P L IC A TIO N .

L lsto u p o n re q a e st.

SEAS0NG00D & MATER, Denison & Farnsworth,




IN THE CITY OF NEW YORK

READY JULY 15.

0121 8 ?Philadelphia Stock Sxehang*.
The above book will be furnished
w i t h o u t cost on application to
B O N D S
F O R
IN V E S T M E N T
E.
H. ROLLINS & SONS, 21 Milk
Drexel Building,
43
Exchange
Place,
St., Boston.

M e r c a n t ile L ib r a r y B u i l d i n g ,
C IN C IN N A T I.

1907

CITY OF ITHACA, N. Y. The U nited States Life
Insurance Co.
WATER BONDS

S ealed p r o p o s a ls fo r th e p u rch a s e o f th e w h o le
o r a n y p a r t o f , a p p r o x im a t e ly , $ 6 6 6 ,0 0 0 00 o f
w a te r b o n d s o f th e C ity o f I th a c a , N . Y . , p u r ­
R E N E W A L BONDS
su an t t o C h a p te r 181 o f th e L a w s o f th e S ta te o f
S ea led P r o p o s a ls w ill b e r e c e iv e d b y th e B o a rd N e w Y o r k fo r 1903, as a m e n d e d b y th e L a w s o f
o f F in a n c e , u p t o 3 o c lo c k p . m ., o n T H U R S ­ 1907, w ill b e re c e iv e d b y th e u n d e rsig n e d at a n y
D A Y , J U N E 2 0 T H , 1 9 0 7 , f o r all o r a n y p a r t o f t im e p r e v io u s t o th e e v e n in g o f Ju n e 24, 190 7.
$ 8 1 ,0 0 0 4>^ p e r c e n t S c h o o l B o n d s o f th e C ity o f S u ch p ro p o s a ls t o b e u p o n th e b asis o f lo n g -te r m
P a te r s o n , N . J . , said b o n d s t o be o f th e d e n o m i­ b o n d s at 4 % , an d b o n d s p a y a b le a t th e o p t io n o f
n a tio n o f $ 1 ,0 0 0 e a c h , d a te d J u ly 1, 190 7, a n d th e C ity at th e e x p ir a tio n o f five y e a rs at 4 ]^ % .
A n y in fo r m a tio n d esired w ill b e fu rn ish e d u p o n
t o m a tu r e J u ly 1, 1932, w ith c o u p o n s p a y a b le
T h e C ity reserves th e rig h t t o r e je c t
ea c h J a n u a r y a n d J u ly u n til p rin c ip a l shall be d u e . a p p lic a tio n .
• S ea led P r o p o s a ls w ill also b e r e c e iv e d b y t h e a n y an d all b id s .
B o a r d o f F in a n c e , u p t o 3 o ’c lo c k p . m ., on
RAN DOLPH HORTON,
T h u r s d a y , Ju n e 2 0 th , 1 90 7, f o r all o r a n y p a rt
A t t o r n e y fo r Ith a c a W a te r B o a r d .
o f 5 1 0 0 ,0 0 0 4 Vi p e r c e n t R e n e w a l B o n d s o f th e
S av in g s B a n k B u ild in g ,
C ity o f P a te r s o n N . J ., said b o n d s t o be o f th e
Ith a c a , N . Y .
d e n o m in a tio n o f $ 1 ,000 e a c h , d a te d J u ly 1, 1 90 7,
a n d t o m a tu r e J u ly 1, 1 93 7, w ith c o u p o n s p a y ­
a b le e a ch J a n u a r y a n d J u ly u n til p r in c ip a l shall
be due.
, , ^
,
A ll p r o p o s a ls t o b e a c c o m p a n ie d b y a c h e c k ,
p a y a b le t o th e o r d e r o f th e C ity T re a s u re r o f
P a te r s o n . N . J . , fo r F iv e P e r C en t o f th e a m o u n t
b id , d u ly c e rtifie d b y a N a tio n a l o r I n c o r p o r a t e d
S ta te B a n k , a c c r u e d in te re s t t o b e p a id b y th e
pu rch aser.
T h e se b o n d s w ill b e d e liv e re d a t th e o ffic e o f
th e C ity T rea su rer o f P a te r s o n , N . J.
T h e B o a rd o f F in a n ce reserves t h e rig h t t o
r e je c t a n y o r all b id s .
W I L L I A M B E R D A N , P r e s id e n t.
A d d r e ss P r o p o s a ls t o
J O H N J . B R O P H Y , C lerk ,
C ity T re a s u re r’s O ffic e , P a te r s o n , N . J .

(B y F ra a k W . ReUSan)

.

Willoughby, Lake County, Ohio.— Bond Offering.— Pro­
posals will be received until 12 m . July 1 by C. C. Jenkins,
Village Clerk, for $8,500 4J^% coupon sanitary-sewer-construction (Series “ C” ) bonds. Denom ination $425. Date
March 1 1907. Interest semi-annually at the Cleveland Trust
Co. of W illoughby. M aturity $425 each six months from
March 1 1908 to Sept. 1 1917 inclusive. Total debt at pres­
ent, $79,000. Assessed valuation 1906, $852,290.

City of Paterson, N. J.,

Or a Plea for Conservative
Investments

l x x x iv

T o Bankers and B rok ers,in quantities,
w ith th eir cards le tte re d In giit o n th e
c o r e r , at gp ed a l rates.

P rice ot Mingle C opies,
T o S u b scrib e r* ol the C h ro n icle ,

S I P<»
75

BOSTON

Commercial & Financial Chronicle,

C LE VE LAN D and P H IL A D E L P H IA .

Pine Street, <tn. Pearl St»“*3t, New York