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.

j

finanrial

ronirb
and City Section (semi-AnnuaUy)
Street Railway Section ("^^^la^)

Bank and Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)

State

Entered according to Act of Congress, in the year 1906, by William B. Dana Company in the office of Librarian of Congress, Washington, D.C'
A weekly newspaper entered at Post Office. New York, as seooQd-claas matter— WniLAM B. DAHA Compakt, Pnblishers, 70}4 Pine St.. N. T.

VOL.

SATURDAY, JUNE

82.

Clearings at

NO. 2138

1906.

16,

Week ending June

—

9.

'Inc.

1905.

Dec.

1906.

PUBLISHED WEEKLY.

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Terms ol Subscription Payable in
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For Six Months
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European Subscription Six Months (including postage)

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Annoal Subscription in London ^including postage)
Six Months Subscription in London (including postage)

£2
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148.
lis.

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Subscription includes following Sections
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Terms

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ot

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Two Months

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ai,~„/i4«~ Business Cards
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Twelve Months

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OHICAGO OFFICE—P. Bartlett, 513 Monadnock Block; Tel. Harrison 4012
LONDON OFFICE— Edwards & Smith, 1 Drapers' Gardens, E. C.
WILLIAU B. OA.NA COMPANY, PublisUers,
Fine Street. Corner
Post

Office

Kox

948.466

6 ,936,300
3 480,674
2 .355.359
1 ,877,028

ot

2.831 061
2.241 233
1.647 437

151,

New Haven
Springfield

Worcester
Portland
Fall River
Lowell
New Bedford

1,

Holyoke
Total

N£W YORK.

New Eng

172, 422,539

Chicago

219, 840.464

Milwaukee

Week ending June

New York

_.

Indianapolis

Columbus

Best n
Ptiila.

-

-

---

-..

olphia

Baltimore
St

1906.

1905.

31,347.708,587
124,540,667
117,665,827

$1,227,841,.355

16

Grand Rapids
Dayton

398,400
830,237
520,412
379,846
127,067

Evansville

,725,921

Kalamazoo
Springfield,

045.820
946.291
721.276

111..

Fort Wayne
Lexington

797.0,35

564.168
494,536
487,817
590,603
425,464
381,872
463,119
450,900
477,191
239.693
371.513
270,000
14S o^'>

Canton
Rockford
Ohio

Bloomington
Quincy

120,758,864
105,235,856
19,499,572

2 1,529 ,,357

-

173,706,922
48,441,121
13,204,540

162,3,'<4,472

81,846,797,021
345.087,628

$1,700,287,662
312,000,491

$2,191,884,649
458,623,987

$2,012,288,153
358,648.099

$2,650,508,636

$2,370,936,252

Louis
Orleans

New

49,843,459
14,724.084

Cent,

Total

all cities,

All cities, 1

Total

5 days

day

all cities for

week

— 2.N

5,

Lake City..
1

Total Pacific.

+ ,S.6 Minneapolis
+ 10.6 Omaha
St. Paul
+ S.9 Denver
+ 27.9 St. Jo.seph
Des Moines
+ 11.8 Sioux City

week covered by the abovejwill be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all cases estimated, as we go to press]Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Saturday noon, June] 9, and the results for the corresponding
week in 1905, 1904 and 1903 are also given. Contrasted
with the week of 1905 the total for the whole|country.shows
a gain of 14.2%. Outside of New^York the increase over
1905 is 9,0%.
Week ending June

9.

New York
Philadelphia
Pittsburgh

Baltimore

BuRaio
Washington
Albany
Rochester
Scranton
Syracuse

Wilmington
Reading
Wllkes-Barre

Wheeling
Erie
Chester

Binnhamton
Oreensburg
Franklin

1905.

S
,732,598, 786

146,377 842
51,102, 972
28,364 168
8.053 889
7,216 014
5,102 282
4,084 564
2,000 000
1.711 193
1.182 210
1,171 744
1,124 .779
949 321

639 .080
548 ,209
515, 800
685, 246
240, 000

,472,048,604
136,736,335
47,090,376
22.223.823
6.,599,014
6.042.5.38

3,953.537
3,514,127
2,299,826
1„'>45,694

1,169,397
1,019,575
1,046,978
693,9,55

502,034
633,273
504,800
525,827
269.946

Total Middle.. 1,993 568.099 1,708,919,659

Dec.

%
17.6

1904.

Colorado Springs

Cedar Rapids
Pueblo

Fremont
Lincoln
Tot. other Wes
St. Louis
New Orleans
Louisville

Houston
Galveston

Richmond
Memphis
Savannah
Atanta
Nashville
Norfolk

Fort Worth
Birmingham

Augusta
_.

Jacksonville
Charleston

Inc. or

1906.

Davenport

Knoxville
Mobile

Clearings al-

1903.

Little

Rock

Chattanooga

Macon

+
+ 7.1
+ 8.5
+ 27.6
+ 22.0
+ 19.6
+ 29.1
+ 16.2
—13.0
+ 10.8
+ 1.1
+ 14.8
+ 7.4
+ 36.8
+ 7.4
+ 2.8
+ 2.2
+ 30.3

Columbus, Oa
Total Southern

—11.1

$
979,612,029 1,412,702,128
112,385.907
89,569,328
.50,749,281
39,290,791
25,737.831
20,608,500
6,300,8.82
6,632,429
4,368.298
5,161,024
3,703.287
4,4.87,245
2.838,149
2,685,808
1.461.487
l,.598,,53l
1.341,373
1,199,356
1.224,928
977,975
1,030,262
887,105
899,883
848,890
640,798
452,187
493,626
549,516
443,176
4.52,700
481,900
464,000
438,700
220,487
233,808

+ 16.7

1,166.425,221 1,620,688,486

Total Canada.

Total

all

Outside

554 687
486 309
160,044, ,88/
190,541, 350

.870, 794
853 ,700
676, 935
953, 049
623 ,563

374, 374
573, 048
434, 700

355 .431
357, 477
339, 153
327, 230

604
213 545
425, 704
345, 315
119. 452
280,842,141
32,775,896
.303,

—21.3
—3.1

+ 7.9
+ 26.5
+ 23.3
+ 20.1
+ 10.8
+ 6.5

—16.4
—9.5

+ 32.1
+ 35.9
+ 19.7
+ 6.8
+ 36.6
+ 37 o
+ 57
+ 12.2

—14.9

K-r

—12.7
—21.8

+ 24.7
+ 13.1

—11.8

9,006,731
5,760,185
4,711,812
5,339.099

—

Wichita

fulljdetails for the

462, 6701

+ 8.0
—3.4
+ 22.9
+ 5.1
+ 14.0
—18.6
+ 32.2
+ 9.1
+ 22.7
+ 4.4
+ 4.3
+ /.<
+ 15.4
+ 8.4
+ 9.7
+ 15.7
+ 10.8
+ 15.9
+ 16.2

+ 23.8
+ 64.8
028,113
+ 6.7
—15.3
4, 520,086
3, ,302. 380
4 379.534
+ 32.6
3,260,005 + 12.6
3 670,658
716,043 —15.8
602,575
—8.1
531,235
488,293
3,39,527 + 25.1
430,000
241.867 Not included in total
65,742,913
+ 4.4
665,354
22,523,573
+ 4.7
591,755
14,.8.37.417
+ 16.3
260,963
9.544.051
+ 8.9
393,890
6,432.532 + 16.5
496,011
6.448.051
4.S
139.353
4,536.739 + 30.4
913,758
2,840,290
+ 2.1
899,590
1,790,903 + 10.9
986,862
1.206.531 —32.2
818.206
1,1,S7,954
—2.3
160,698
921,093 + 32.0
215,936
—4.3
731,777
700.000
473,574 + 17.1
554,449
380,053 + 13.1
430,000
332.387 + 26.6
420.717
813. .526 Not Included in total
74,186,925
+ 9.2
982,188
—0.3
58,445,624
292,083
—16.3
18,783,101
915,951
11.287,082 + 10.7
498,610
6,797.461 + 20.0
957,740
4,852.000 + 0.01
852,500
6.247.046 + 23.9
500 000
5,1.53.910 —17.5
253,469
4,011.366 —12.1
526 637
3,4.88,078 + 14.5
993,269
3.453.422 + 14.0
935; 691
2,177,660 + 15.7
519,702
2,068.044 + 20.0
481,004
1,494,684 + 32.2
975,613
1,652,173 —28.4
183.101
—8.1
1 451.275
.333.736
1,326,808 + 21.3
609.404
1,467,821 —12.3
286,226
1,018,021 + 12.2
142,202
956,602
+ 5.9
012,708
714,399 + 91.4
367,380
435,996 + 34.0
584,144
243 IRO + 13.9
277.087

Portland

+ 9.8 Spokane
+ 3.1 Tacoma
+ I1.,S Helena
Fargo
+ 10.4 Sioux Falls
+ 7.0 Oakland
--10.3

905,408

9 492,695

Topeka

The

28,

11 153,157

Kansas City

Seven cities 5 days
Other cities, 5 days

317, 555.461

Seattle
.Salt

1,550 6S9
776 4521

14,354, 415'
11,183, 159!
7,942, 3181
7,651 ,663
4.644, 500
4,867, 078
2,599, ,787
2,205, 731
1,681 .986
1,399 ,330

5,
3,

Toledo
Peoria

Los Angeles

..

1,560, 869

23,623 ,750!

8, 801,667
7, ,773.166

.Springfield,

Per

j

15, 742. S8S
12, 934.445

The following table, made up by telegraph, &c., indicates Mansfield
Decatur
that the total bank clearings of all the clearing hou.se.s of Jacksonville, 111.
South Bend
the United States for the week ending to-day have been Jackson
$2,650,508,636, against $2,770,691,958 last week and Ann Arbor
Tot. Mid. West
$2,370,936,252 the corresponding week last year.
San Francisco
Clearings — Returns by Telegraph.

7,1.83 2001

25, ,604.700

Cincinnati
Cleveland
Detroit

Akron

CLEARING HOUSE RETURNS.

270,100
052.930
847,454
567,818
579,073
507. .337

Youngstown

Pearl Htreet,

0.38.

Boston
Providence
Hartford

N.Y..

Winnipeg
Ottawa
Halifax

Quebec
Vancouver
Hamilton
St. John

London
Victoria

Calgary

1903.

110,865,718
6,071.600
2.637.437
2.148.542
1.489,193
1,274.171
1,815,138
649.436
493.223

140,129,641
6,.545, 100
2,972,300
1.9,88.019

497,511

1,668.274
1,641,024
1,400,037
997,668
459.003
544.196
468.036
158.813,298
169.165,837
24,122,650
15,971,626
10,621.921
7, 76.703
7,125,817
4,950.800
3,104.927
2,516,252
1,892,009
1,574,447
1,045,092
672,914
732,507
723.577

629,897

672,126

448,9.39

514 105
128.40/,oy2
167.996.393
25.001.600
12.126.680
9.493.889
7,574,669
5.759.231
4,260,300
3,037,983
2,194,143
1,953,743
1,774,161
1,217.250
812,732
823,8441

619. .837

,541,9.80

467.796
776.200
462,932
354.838
348.991
217,626
329,323
221,556

539.130
850.000
389.086
331,860
365,248
222.082
275.720
174,016

194.250
122 289
249,269,664
28,083,573
6,100,704
4,416,796
3,449.109
2.690.675
2.174.656
1,849,499
680,669
463.118
281.804

iss'ooo
99.534
256,642,897
24,840,441
6,01S.8S7
4,307.142
3,334.089
2.726.737
2,330.030

50,190,603
20,415,776
11,982,904
7,630.401
5,113,632
4,284,079
4,128,928

46,520^672
16,166,076
12,165,257
8.848,746
5,639,204
4,899,041
4,700,000
2,056.576
1.569,810
1,153,892
784.637
817,072
563,396

2,369,2,32

1,277,774
9.34,573

1,067,344
919,988
5.82,682

1,749,7,39

434,587
548.510
230,510

433,450
156,162

166,970

61,297,015
54,857,273
16,681,173
10,141,693
4,828,275
3.336,000
4,208,623
4,516,724
2,864,054
2.913,987
2,544,302
1,782,064
1,293,838

59,530,077
41,705,136
15,435,923

1,084,,370

10,603, .385

6.919,798
2, ,825,000
4.3,S4..579

3.701,818
2.745,635
2,456,059
2,226,749
1,5,39.7.35

1,606,545
1,138,870

932,153

697,630

1,224,491

1,288,862

910,040
942,059
807.246
777,946
318,614
246.672
117,111,547

368.164
1,055,807
887,779

924,973
616,000

135,625,763
137 498,317
2,770 ,691,958 2,425.202,278

+ 1.5
+ 14.2

1.038,093.172

952,613.074

+9.0

783.080.663

833,625,353

29,112,040
26,605,319
9,371,501

27,068.335
19,439,484

23.168,809

29,951,684

IS.519.,362

18,486,5.56

5.097.791

2,.870,.381

3,578,815
1,840,188
2,218.449

+ 7.5
+ 35.6
+ 44.7
-19.8
+ 18.4
+ 1.9
+ 32.8
+ 22.2
+ 14.6
+ 12.0

2.296,7,50

4,903,589
2,338,738

1,8,55,,361

1,919,32,'?

1,,852,667

1,822,8.36
l,240..33l

Canada
Montreal
Toronto

1904.

%

3
140,750 280

$

2,179,630
2,260,885
2.391,113
1,551,157
1,308.894

6,474. .879

1,800,1.88

1,368,129
1,143,421
1,103.190
1,23.5.402
—10.6
7,39 016
661,427
1,046.607 Not Included In total
66,674.100 + 19.2
79,447,749

103.131.453
1.762.692.692 2.251,327.513

1,607,446
1.308.064
1 052.069
910,«>0
1,009.718

59,278.787

1,150,319
1,028,608
8.53.8I.'»

623,177
64,321,976

THE CHRONICLE.

1342

THE FINANCIAL SITUATION.
The question

of crop

outcome

for the current year

has been of Uirge interest this week, and
to absorb

will

continue

more and more attention through the summer

and fall. There are years when business interests
seem so established, so strongly based, that even short
crops cannot move them much.
The coming twelve
months, those that now confront us, are of a different
character.

Affairs are in such a high state of tension,

and
making such speed in our course, that to keep
the gait and the level another year of plenty is

prices for everything are so abnormally strained

we
up

,

are

,

quite essential.

We

Vol. lxixii.

cultural Department's report was made public June 4
and published by us June 9, page 1332. As to cotton,
we ought perhaps to explain why in our annual report for June 1, the total acreage carried forward for
the previous year by us was so much larger than the
total the Government brought forward.
The reason
for the diffei-ence is on the surface.
It was due to
the fact that the Bureau cut down its running count
in July 1905 about 13^ million acres.
The change was
made by the Government because the Southern Cotton
Growers' Association charged that the June figures of
the Department were too large; hence it happened that
the deduction was made.
We do not think such a
method is wise. No one can give the acreage planted
,

through a complete census
about this such as the Government obtains every 10 years. All
time.
Reference was had by that remark to the fact we claim to do and all we claim for our figures of total
that it was the time-occasion around which the more acreage is that they are based on the last 10-year Cenimportant of the early fixed limits of crop possibilities sus. We obtain from year to year, about the first of

and

said last

week that business concerns were

at

to cotton correctly except

in the process of passing a crucial point

become known.

When we

wrote one highly important June, the increase or decrease in planting for the cur-

had become a matter of record. rent season. Those facts can usually be quite closely
Towards the close of May, or within the first two or determined through the methods we so long ago
Average local sentiment at
three days of June, individual reports, or we might adopted and followed.
better say unofficial reports, of acreage and condition the time of planting must approximate to the truth
of cotton were, as they are at that time every year, and is something that can be reflected by percentages.
extensively exploited, and about June 1st the official The Census report must also be assumed to be correct
The current and unquestionable. What we do, therefore, about
report of that staple was made public.
week another event in the season's crop progress along the first of June each year, is to further modify the
the same lines was the highly important Government last Census figures by our annual percentages of inWe do not assume our running
grain report, which was the current year made public crease and decrease.
on Monday, June 11th. This official statement is total to be infallible. It is prepared, though, by the
probably the most eagerly looked for and closely stud- only method that has anything more than a guess to
It has support it. It is of some interest to note that the Agriied of all the monthly Government emissions.
that'pre-eminence chiefly because it contains the spring- cultural Department's acreage figures for June 1 1905
wheat acreage and condition, besides giving any late were quite close to our total of same date. The
revelations as to the development of the winter-wheat Department at that date made the total 28,121,000
production, and also not infrequently affords an inkling acres. In the following month, July, after being atof the early environment and outlook for corn planting. tacked as stated above by the Southern Cotton GrowAccording to this week's statement, there is a decline ers' Association, it revised its total by making it 26,indicated of 8 points in the condition of winter wheat 999,000 acres, or, as stated above, reducing its figures
from that of a month ago (May 1) making the condition about 13^4 million acres.
83 on June 1. Spring-wheat area is given at 17,One event of the week, which attracted some atten989,000 acres, or an addition of 38,000, which is only
.2 of
1% increase compared with the acreage sown tion because of its unusual character, was the coinciin 1905; the condition of spring wheat is stated at 93, dent transfer through the Sub-Treasury on Tuesday
which compares with 93.7 at same date in 1905. of 1300,000 from San Francisco and the transfer hence
ThegDepartment does not give any figures of estimated of $1,750,000 to that city. The movement hither
yield on the basis of its condition and acreage results. was for the account of San Francisco banks which
But if we compare these results with the similar re- were returning funds that had been remitted after the
the transfer hence was for the
sults June 1 1905, when the acreage was, as already disaster in April;
stated, .2 of 1% less and the condition was about Philippine Government and the money will be shipped
That Government keeps its funds on
1 point less, the total output indicated June 1 of spring to Manila.
deposit with fiscal agents in this cit}' who have branches
wheat in 1906 would be 262,500,000 bushels, against
Part of the above-mentioned sum is
264,516,655 bushels in 1905. Adding the winter- in Manila.
wheat production obtained by the same method, the understood to represent balances accumulated through
total crop of both sorts of wheat would be 675,000,000 exchange operations between the principals and the
bushels in 1906, against 692,979,480 bushels in branches, while some portion was the proceeds of old
bond negotiations. The money has been on deposit
1905.
These figures, which are for June 1, are encour- with the banks in this city in which these fiscal agents
The only other grain crop showing a loss keep their accounts; hence the withdrawal of the
aging.
compared with a year ago, when the promise was for funds for transmission to Manila should be reflected
Our annual report of in a loss to the banks in the statement of this week.
full crops all around, is oats.
and condition was given two weeks ago Another transfer of $1,670,000 gold from San Francotton acreage
(see "Chronicle" June 2 1906, pages 1242 to 1246), cisco to New York was an arrival on Thursday, and
having been issued in circular form on Thursday May represented a consignment from Australia via Van31, indicating a larger planting than in 1905 and a couver Avhich, when it was shipped, was reported as
good and promising start for the plant. The Agri- amounting to $1,800,000. This makes the total thus
feature of that kind

,

'

June

THE CHRONICLE.

16 1906.1

far of gold importations since

March $53,242,352

—

all

but $3,930,248 of which have been claimed as facilitated by Treasury advances. There is now in transit
from Australia for Vancouver $1 ,500,000, which was engaged on May 31st; when this shall arrive, as it probably
will by July 5th, the importations aided by Treasury
intervention will be completed, there being no more
gold engaged for shipment hither from any source.

1343

nation has so far withstood the assaults upon

developing agencies which have produced our boundless prosperity.

Had

there been less prosperity,

there been less cushion for the impact, financial
industrial depression

had
and

must already have overtaken us.

He takes up the subject of railroad rate legislation
and points out that though theoretically the provisions which enact a rate-regulating commission may
be ideal, in practice not only

Mr. Robert B. Armstrong, the President of the
Casualty Company of America, delivered an address
this week before the Iowa Bankers' Association which
Mr. Armstrong is a man
deserves wide circulation.

the

will

they be found inade-

quate, but they will disturb commerce.
railroad systems in the country

The

largest

have been able to

employ the most expert traffic officials known theworld over. Yet they have never had the temerity
with much practical experience and possesses a keen to place within the jurisdiction of a single board of
How, then,
insight into affairs, having at one time been an Assist- experts the rates for every locality.
ant Secretary of the Treasury at Washington and pre- shall a body of men who may or may not be experts,
viously having gained considerable prominence as a and who will be appointed in the devious manner of
newspaper writer. His present address shows, too, politics, regulate on complaint the freight rates of all
His theme the different localities in the country. He asks the
that he has the courage of his convictions.
was "Assaults on Corporate Management" which he Iowa bankers how they would receive a proposition
undertook to show must inevitably unsettle confidence. to control the rates of interest for the various localities
These assaults on corporate affairs and aggregated under a Government commission. Why is there any
wealth are very popular just now and it would have been more reason that a railroad rate ma}' be complained
easy for Mr. Armstrong to go with the currentand to join of to a committee sitting in Washington or elsewhere
But he sees clearly that the results than that a bank rate of interest should be overhauled
in the movement.
must in the end be disastrous unless a change in the on a similar complaint? He continues: "What is the
public attitude in this respect is brought about, and essential difference? You say you are better able to
therefore he tells the Iowa bankers in plain and unmis- judge of local conditions, of competition, of special
takable language the dangers which a continuance of considerations. Well, so does the railroad man.
He points out that it is You say it is not your money. The railroad man can
the present policy will invite.
the fashion to assail all corporations, regardless of equally well say the same thing.
You say he is a
management, regardless of results, regardless of the common carrier and you are not. Technically that
future, and with the irresponsibility of speech and ac- is true, but your responsibility to the business comWhy, then, may it not be exIt is munity is the same.
tion that denotes the radical and unthinking.
assault upon capital, wherever pected that those in favor of Government paternalism
this indiscriminate
working in co-operation, that is producing to-day, in will next advocate the regulation of interest rates
the most glorious era of prosperity ever known to a throughout the United States by a Federal Commission
Every use Mr. Armstrong accordingl}^ urges the bankers to set
civilized people, a feeling of vague unrest.
of capital which tends to develop the country it at- their faces against the wholesale breeding of anarchy
Mismanagement and and the nation-wide encouragement of Socialism,
tacks as a common enemy.
wrongdoing have been found in several corporations. envy and malice. Financial depression comes from
Therefore all corporations must be mismanaged and timidity of capital and its failure to co-operate. Artiall officers and directors are held up to the public as ficial interference with economic laws of supply and
no better than they should be. As much reason to kill demand are dangerous in the extreme. Unless the
all dogs because some few go mad.
Those guilty of present tendency and movement are arrested and
wrongdoing should be punished so that the lesson will counteracted the consequences will be serious in
not be forgotten. As a matter of fact, however, the the extreme and industrial disaster will be hard to
corporations which have been found wanting in the avert.
scale of business honor and common honesty have
The monthly statistics of iron production reveal no
been the exceptions to the rule the rare exceptions.
Armstrong well says that if it were possible to com- new or striking features this time. Great activity still
Mr.
pare the management of the corporation with the pervades all departments of the iron and steel trades
management of the individual firm, the comparison and both production and consumption remain on an
would not be to the disadvantage of those institutions exceedingly large scale.
During May it appears the
founded upon the co-operation of capital.
make of iron was at a slightly less rate than in April.
He very much fears that one of these days we will The total output for the 31 days of May is given at
miss Prosperity. There will be many excuses for her 2,098,746 tons, as against 2.073,222 tons for the 30
absence from her usual place. One will say "bad days of April. In other words, while iron was procrops," another will say "over-production," still duced at the rate of 69,107 tons a day in April, the
another will say "abnormal extension of credits." daily rate in May was 67,701 tons.
But the "Iron
But none of these will be the real reason, though Age," from which these statistics are taken, points
they may be contributory. The real reason will be out that there were a good many interruptions from
an epidemic of fear, of timidity, of distrust produced bad working last month. It also appears that the
by unwarranted, continuous attacks upon every in- active furnace capacity on .Tune 1 represents even a
strument of progress and development which has less rate of productioi; on that day than the average
made and is making the country great. Fortified as for the month of May, though the number of furnaces,
this country is with its unparalleled prosperity, the active on June 1, namely 296,wasthesameasonMay K

—

. '

—

THE CHRONICLE.

1344
The explanation

is

that several furnaces went out of

blast the latter part of the

month and

these had a

larger average capacity than the furnaces which be-

gan making iron. For this reason it happens that
production June 1 was at the rate of only 472,997 tons
per week as against 484,031 tons on May 1. As far as
accumulated stocks are concerned, the "Age" speaks
with some reserve because of the absence of
statistics from the East and Central West, but

official
it

not hesitate to say that accumulations are very

does

light.

[Vol. lxytti.

There was no change in official rates of discount by
any of the European banks this week; unofficial or
open market rates were, compared with last week, a
shade firmer at London and J^ of 1% higher at Paris,
at Berlin and Frankfort.
The Continental markets
seemed to be affected by increasing political tension at
St. Petersburg and also by reports that an effort will

made to float another Russian loan.
The feature of last week's statement of the New
York Associated Banks was a gain of $2,942,100 in cash,
be

The Steel Corporation, it avers, has been running along but owing to an increase of $10,384,300 in deposits, the
for months with a stock, including all kinds of iron, of required reserve was augmented by $2,596,075 and
between 130,000 and 140,000 tons. The whole South hence the increase in surplus reserve was only $346,025,
had a trifle over 100,000 tons on June 1. Accord- carrying this item to $7,162,050; loans were expanded
The bank statement of this week
ingly there is no reason to doubt that consumption is by $7,619,400.
keeping wonderfully close to an enormous produc.

should reflect the receipt of $3,000,000 through trans-

tion.

fer

from San Francisco of money which was remitted
relief of the banks of that city after the

hence for the

The annual report of the International Mercantile
Marine Co. or as in popular parlance it is often erroneously called, the "Shipping Trust" has been
issued this week, and we imagine it will be a surprise to
most persons to hear what a favorable contrast this
report (which is the third one issued by the company)
presents with the previous reports. This shipping
combination during the early years of its existence was
very unfortunate in the numerous adverse conditions
with which it had to contend. As a result the showing
for the calendar year 1904 was a decidedly poor one,

—

—

disaster

— making

$17,679,000 thus far received

—also

the transfer hither from that city of $1,670,000, representing

Australian

Vancouver, B.
cisco; there

gold

which recently arrived at
transshipped to San Fran-

C, and was

was a

transfer of $100,000 to

New

Orleans

during the week through the Sub-Treasury.

The market
chiefly

for loanable funds

was easy

this

week,

because of the generally inactive speculation in

and the supply was much in excess of the deMoney on call, representing bankers' balances,
profits for the twelve months falling $1,378,741 short loaned at the Stock Exchange during the week at
As compared with this deficit 5% and at 23^%, averaging about 3%; banks and
of the year's charges.
stocks,

mand.

companies loaned at 23/^% as the minimum. On
sum of $3,127,491. The gross earnings of the com- Monday loans were at 3)^% and at 23^% with the
pany increased $4,515,926 over those of the year pre- bulk of the business at 3%
On Tuesday transactions
with the majority at 3%.
ceding and the net earnings $4,100,337. In what were at 3% and at
are known as operating, administration and general On Wednesday loans were at 33^% and at 3% with
expenses there was a reduction of $589,555, showing the bulk of the business at 3%. On Thursday transand at 3% with the majority at
that the company is being operated with growing actions were at
economy and efficiency, while at the same time its 33^%- On Friday loans were at 5% and at 33^%
business and its revenues are being extended. It with the bulk of the business at 4%. Time money is
is proper to state that these results do not include the in better demand for over-the-year maturities than for
operations of the Ley land and National lines, in short dates. Quotations for loans on good mixed
which the company has important holdings, but which Stock Exchange collateral are 3%@43^% for sixty
make separate reports to their stockholders. These days, 4@43^% for ninety days, 43^@4%% for four,
lines had profits for the twelve months in excess of 4^@5% for five to six and 5}4% for seven to eight
£100,000, all of which has been written off to depre- months. Commercial paper is dull, with little local
And yet conditions during 1905 were not business, and the demand is chiefly from the interior.
ciation.
altogether favorable.
The demoralization of passenger Rates are 5@53^% for sixty to ninety day endorsed
rates terminated as early as March 1905, but the de- bills receivable, b@,5}/2% for prime and 53^@6% for
pression in*freights continued during the whole of the good four to six months single names.
for 1904 there

is

now

a surplus for 1905 in the large

trust

.

2%%

3^%

first

nine months of the year, leaving very unsatis-

The Bank of England rate of discount remains unThrough the sale of $2,744,000 additional changed at 4%. The cable reports discounts of sixty
43^% collateral trust bonds and the application of net to ninety day bank bills in London S%%. The
earnings, the financial condition of the company has open market rate at Paris is 23^% and at Berlin and
According to our special
been very greatly improved. During the twelve Frankfort it is 4%.
months the item of loans, bills payable and foreign cable from London, the Bank of England gained £1,bank overdrafts was reduced from $10,311,190 to 202,555 bulUon during the week and held £34,767,926
Our correspondent further
$6,326,989. At the same time current liabilities were at the close of the week.
reduced from $5,554,558 to $4,858,584. There has advises us that the gain was due in large part to puralso been a reduction in the outstanding debenture chases of gold in the open market, although receipts
bonds of the constituent companies of $326,405. from the interior of Great Britain were of important
Besides this, $2,000,000 has been transferred to the volume, the details of the movement into and out of
credit of depreciation fund, making the total credit the Bank being as follows: Imports, £719,000 (of
in insurance and depreciation funds on Dec. 31 1905 which £200,000 from Egypt, £5,000 from France,
$3,138,766.
£5,000 from Gibraltar and £509,000 bought in open
market); exports, £87,000 (of which £67,000 to South
factory earnings for the freight steamers during that
period.

June

10 1906.

-

.

.

.

@

.

THE CHRONICLE.

1

America and £20,000 to the West Indies), and receipts
The following shows daily posted rates
of £571,000 net from the interior of Great Britain.
exchange by some of the leading drawers:

were within a comparatively narrow range.

Offerings

of bankers' bills were confined to those against securi-

and franc loans on
collateral, while the demand early in the week was for
sight drafts in settlement of maturing finance bills.
Bankers reported that there was little disposition
among foreign lenders to extend or renew maturing
ties

and others representing

sterling

obligations, while borrowers through finance bills did

not regard
for such as

as advantageous to make engagements
would mature in September unless they

it

,

could secure the privilege of extension for another
period of ninety days.

Therefore the current month's

June

Brown
Brothers
Baring,

&

Co

ifeCo

Bank

British

North America
Banlc of
Montreal

-

...

Canadian Bank
of

Commerce

Heidelbach, Ickel-

helmer
Lazard

& Co

Siglit..

60 days

Freres

Sight-

Merchants'
of

60 days
Sight..
60 days
Sight-.
60 days
Sight..
60 days
Sight-.
60 days
Sight-.
60 days

Bank

60 days

Canada

Sight-

The market

for sterling

Mon.,
Tues..
Wed..
ThuTS.
Fri.
June 11 June 12 June 13 June 14 June 15

Fri.,

The foreign exchange market was moderately active
and generally strong this week, though fluctuations

345

J

S314
86 J^
84
87

84
87
84
87
84
87

83H
86H

83
86
83
86 K
83 H
86 W
83
86
83
86'^

83
86
83

H

H
H
H

86 J4
84
87
84
87

H
H

84
87

84
87
84
87
84
87
83
86
83
861^
84
87
84
87
84
87

H
M
H

84
87
84
87
84
87
83 H
86 «
83 )i
86 J4
84
87
84
87
84
87

closed on Friday at 4 83

84
87
84
87
84
87

84
87
84
87
84
87
83
86)^
83
86 J^
84
87
84
87
84
87
'

H
H

83H
86
83

H
H

86 >^
84
87
84
87
84
87

@4

8310 for
8590@4
8635@4 8645 for
Commercial on banks 4 8260 @4 8270 and
cables.
documents for payment 4 82 @4 83. Cotton for
payment 4 82 @4 ^2%, cotton for acceptance 4 8260
4 8270 and grain for payment 4 82?^ @4 83. ||
-^
86 for short and 4

long, 4

•

maturities were settled and

new engagements were

generally deferred, awaiting the development of

more

favorable conditions for borrowing in Julyjor later.

The following gives the week's movement of money
to and from the interior by the New York banks.

Recent estimates of our indebtedness abroad as the
and other loan bills
Received by
Shipped 6v
Net Interior
Week ending June 15 1906.
N Y .Banks. N Y. Banks. Movement.
are now believed to have been much exaggerated. Currency
$6,246,000
$6,609,000 Loss
$363,000
849,000
709,000 Gain
140,000
Such bills were largely drawn during March, when Gold
Total gold and legal tenders.
$7,095,000
$7,318,000 Loss
$223,000
«•)
monetary conditions were tense, but after the middle
of April and in May money rates grew easier and foreign
With the Sub-Treasury operations the result is as
borrowing was chiefly against collaterals. With the follows.
facilities which were then extended by the Treasury
lnlo^^
Out of
Net Change in
Week ending June 15 1906
Banks.
Banks
Bank Holdings.
for the importation of gold there was little object in
above.
$7,095,000
$7,318,000 Loss
$223,000
employing finance bills as the medium for the procure- Banks' Interior movem't as imports.
Sub.-Treas. oper. and gold
31,800,000
28,800,000 Gain
3,000,000
Total gold and legal tenders...
ment of foreign capital, and it is believed that com$38,895,000
$36,118,000 Gain $2,777,000
paratively few were drawn.
is thought likely,
It
The following indicates the amount of bullion in the
therefore, that our European indebtedness for borprincipal European banks:
rowed money is now not much in excess of $200,000,June 14 1906.
June 15 1905.
000, including loans which have been effected against Bank oj
Gold.
Silver.
Total.
Gold.
Silver.
Total.
stock and bond collateral. There Jappeared to be
£
£
£
... 34 767,926 38 117,661
34,767.926
38,117,661
good evidence after Tuesday that the demand for England.. 117,678.079
France
42,642, 350160. 320,4291114 482,158 44,317,185; 158,799,343
37.440,000
53,839.000
letters of credit had become important and the vol- Germany 100,291,000 12,480, 000 49, 920,0001 40 379,000 13,460,0001 111,276.000
Russia
5,725 OOOlOfi 016,000,104 903.000
6,373,000
Aus.-Hun. 46.619,000 12,796 ,000, 59 415.000, 47 701.000 13,080,000' 60.787,000
ume of such letters is expected to be fully equal to if Spain
15,140,000 24,519 ,000' 39 659,000 14 ,810.000 22,077.000 36,893,000
Italy
28,647,000
3,986 ,3001 32 633,300; 22 445,000
3,638,400 26,083,400
5,521,900
6 783.900
,278,900
not in excess of that of previous seasons. Commercial Neth'lands 3,334,000 5,757 ,000 11 .001.000 3 222,667 6,216,500 13.000,400
Nat.Belg..
1.667 ,000
5
1,611,333
4,834,000
bills against commodities were in limited supply and Tot. week 389,438,905 109, 572, 650499,011. 555 392,850,386 110,779,418 503,629.804
Prev .week 383,099,078 109, 128,759|492, 227,837 392,559,665 111,021,143 503,580,808
one notable feature was a material decrease in drafts
result of the negotiation of finance

.

.

•

I

.

against provisions, indicating a falling off in'exports of

meats As elsewhere noted there was a transfer|of S 1 ,670 ,000 gold hither from San Francisco on Thursday,
representing an arrival via Vancouver, B. C.,5[of a
consignment from Australia.
Nominal quotations for sterling exchange are 4 833^
@4 84 for sixty-day and 4 863^ @4 87 for sight. The
market was firm on Saturday of last week and, compared with the previous day, rates were 10 points
higher for long at 4 8285 @4 8310 and 5 points for
short at 4 8590 @4 8595; cables were unchanged at
4 8635 @4 8645. On Monday long was 15 points
lower at 4 8290@4 8295, while short was 15 points
higher at 4 8605@4 8610 and cables 5 points at 4 8640
@4 8645. On Tuesday the tone was strong, with an
advance of 10 points for long to 4 83@4 8305, and of
5 points for cables to 4 8645@4 8650; short was 5
.

points lower at 4 86 @4 8605.

On Wednesday

the

easier and 10 points lower for long at
4 8290@4 8295, 10 points for short at 4 8590@4 8595
and 15 points for cables at 4 8630@4 8635. On Thurs-

market was

day the tone was firm and 5 points higher

for long at

4 8290@4 83, 5 points for short at 4 8590@4 80 and
10 points for cables at 4 8635@4 8645. The market
was steady on Friday.

IMPORTANCE OF FREE ALCOHOL TO OUR
INDUSTRIES.

When

the present Congress passes into history

it

no doubt be associated with many measures of
wide import enactments having a large bearing
upon economic and industrial affairs and to which
reference will be repeatedly made in the future.
It
is doubtful, however, if any legislative act of the
present session is destined to be more far-reaching
in its influence or to play a more important part in
the country's industries than the Free Alcohol Bill,
which became a law on Thursday of last week by
the President's signature.
Certainly, if the measure
fulfills expectations, free alcohol will prove an inestimable boon and tend powerfully to promote our
manufacturing growth.
For the last nine or ten years Congress at every
session has been asked to remove the internal revenue tax on what is known as ethyl 'or grain alcohol
in order that manufacturers might be able to get this
article of such universal use in manufacturing at a
minimum of cost. That distilleries should be taxed,
and taxed highly, upon such of their products as are
converted into beverages, it has been admitted was
will

—

THE CHRONICLE.

1346

and proper. But that the same tax should be
imposed upon the alcohoHc i)roduct needed in the arts
and manufactures, it lias always been contended, was
imposing a ])urden upon the country's manufacturing
industries which they should not be asked to bear
and which was seriously hampering their growth.
Furthermore, the tax has been a handicap to manufacturers in competing in the markets of the world
with the products made in the other leading manufacturing countries like Great Britain, France and Germany, where cheap alcohol has long been the rule.
Under the law of 1894 any manufacturer finding it
necessary to use alcohol in the arts or in any medicinal
or other like compounds M^as allowed a rebate of the
tax, but unfortunately this section of the law was
repealed by Chapter 310 of the Laws of 1896.
At the present session of Congress the demand for
cheap alcohol became so insistent and so overwhelming
that Congress found it impossible any longer to resist.
Both the agricultural sections and the manufacturing
The interests of
classes seem to have joined hands.
the farming sections in the measure were of course
wholly different from those of the manufacturing disThe agricultural communities hope by protricts.
moting the manufacture and use of alcohol to find
For alcohol can be
a larger use for their products.
advantageously made out of innumerable things
out of grain, potatoes, sorghum,
raised on the farm
sugar beets, starch, &c. &c. Moreover, it can be
produced very cheaply reports say at a cost of only
15 to 20 cents a gallon. The arguments urged this
right

—

—

year in favor of granting the request for free alcohol

have been somewhat different from those employed
Not so much stress has been laid
in former years.
on this occasion upon the utility of cheap alcohol to
our manufacturers. Instead, the fact has been emphasized that alcohol might become, if cheaply enough
provided, an important article of fuel and be used for
light and power.
It has been urged that alcohol

[Vol.

t.

yyy tt.

expectations in that regard are to be disappointed-

He

said that a great

many

people in Colorado thought

that they would be able to use the alcohol (after it
has been rendered unfit for conversion into a beverage) as a cheap form of power to lift water for irrigat-

farm use. But it
was his opinion that other forms of power would be
found cheaper. He suggested that manufacturers
ing purposes

and

who make hats

for all sorts of

or those

something resembling

who want

silk,

to turn cotton into

and some manufacturers

might derive important benefits. It
be recalled that there has also been considerable

of other articles,
will

talk of substituting alcohol for gasolene in

automobiles.

All this, however,

is

running

chiefly interesting

how wide and varied are the u&es to which
alcohol may be put.
We recall a speech made by Congressman William
as showing

C. Lovering of Massachusetts at the National

Conven-

tion of the Furniture Association of America, three years

ago in July, in favor of so amending the internal revenue law as to allow manufacturers to obtain alcohol.
at a reasonable cost as against the present cost, which
has been really prohibitory. Mr. Lovering gave it as

on distilled spirits
amounting to over two dollars on each gallon of commercial alcohol (the tax is $1 10 per proof gallon, but
proof spirits is defined by the law to be alcoholic liquors
containing one-half its volume of alcohol), has operhis opinion that the present tax

ated to prevent the general use of that substance in
this country and to give the control of the world's
markets in articles in the manufacture of which alcohol is an important factor to Germany, France and
He urged that the adoption of a sysGreat Britain.
tem of untaxed denatured alcohol that is, alcohol
which has been rendered unfit for use as a beverage by
the admixture of some deleterious or noxious substance would, by cheapening the cost of production
and by enabling manufacturers to give a better product at a lower cost than they can now make with the

—

—

without the internal revenue tax could be furnished use of substitutes for grain alcohol, help in securing
This supposition the sale of furniture and many other articles in foreign
at a smaller price than kerosene.
no doubt furnished the basis for the charge so freely markets. He did not think, either, that any loss of
made that the Standard Oil people were opposing the revenue would result to the Government, since, owing
measure. This charge, it will be remembered, was to its high price, the taxed alcohol is not now being
denied by Senator Teller (as well as other members used for these various purposes.
But there are many other articles and
of the Senate), who asserted that there had not been

many

other

which similar benefits must result
from the possession of untaxed alcohoL "It is a selfbill any one to represent the Standard Oil Co., nor did
the committee have the slightest reason to suppose evident proposition," said Mr. Lovering, "that these
that that company cared whether the bill passed or goods cannot be manufactured in this country from
before the Committee of the Senate considering the

lines of industry in

The only people who did vigorously oppose the
bill were those engaged in the manufacture of wood
alcohol, who had a large stock of their alcohol on
hand, and which alcohol some manufacturers have
come to employ in their manufacturing processes as
a substitute for the grain alcohol. The chief point of
discussion and the chief point of difference between
the two Houses of Congress was as to the date when

alcohol costing $2 35 per gaUoiiL and. sold in neutral

not.

the measure should go into effect

— the Senate conten-

markets in competition with goods of exactly the same
kind manufactured in Germany from alcohol costing
only $1 25 per gallon. And it is also certain that a reduction of the tax in this country to 70 cents per proof
gallon would sufficiently cheapen the cost of this important material to allow of the exportation of
articles

many

from the production of which our manufac-

turers are

now

entirely skut out

by the high

price of

removal pure grain alcohol."
It will be observed that Mr. Lovering was arguing in:
of the internal revenue tax being fixed for Jan. 1 1907,
so as to provide both sufficient time for the internal favor of reducing the tax. Under the law just enacted
revenue department to devise the necessary regula- the tax will be altogether removed. The advantages;
tions and to give the wood alcohol people time to to our manufacturers must therefore be correspondThe new law contains provisions iningly greater.
reduce their stocks.
Much has been said of the possibility of the use of tended to guard against frauds in the Internal Revealcohol for power.
In Senator Teller's estimation nue. The Govermnertt haajbeem deriving not quite

tion finally prevailing

and the date

for the

June

THE CHRONICLE.

16 1906.]

$12,000,000 revenue a year from the tax on alcohol
as such, but its total revenue from distilled spirits in

1347

the court not to resolve such questions

upon

affidavits,

but to reserve them for final hearing, where every
the latest fiscal year was almost $136,000,000, from sworn statement comes to the court, not ex parte,
which it will be seen how important it is that the priv- but after the test of a cross-examination. The parties
given to use free alcohol in the arts and manufac- to the suit are
tures should not, through fraudulent means, be availed Court obtains
ilege

evade the tax imposed on
consumption as beverages.

of to

for

We

give the text of the

distilled spirits destined

a subse-

quent page. It provides that from and after Jan.
such degree of proof
1 1907 domestic alcohol of
of
as may be prescribed by the Commissioner
and approved by the SecreInternal Revenue,
tary of the Treasury, may be withdrawn from
bond without the payment of internal revenue tax,
for use in the arts and industries, and for fuel, light and
power, provided said alcohol shall have been mixed
in the presence and under the direction of an authorized
Government officer, after withdrawal from the distillery warehouse, with methyl alcohol or other denaturing material or materials, or admixture of the same,
suitable to the use for which the alcohol is withdrawn,
but which destroys its character as a beverage and renders

it

unfit for liquid medicinal

purposes.

jurisdiction (Judge

and the Federal

Lacombe

sits in

New

York) from the fact that

it is

the conten-

tion of the complainants, the Consolidated

that the gas legislation of this State

Gas Co.,

and the order

of

the State Gas Commission are obnoxious to various
provisions of the Constitution of the United States,

and

for

that

reason void.

An

appeal

lies

direct,

without review by any intermediate tribunal, to the
United States Supreme Court, and through the present
action a final decision of the constitutional questions
raised can be obtained

way.
Judge

Lacombe

more quic kly than in any other
emphatic

is

in

declaring

that

in granting the injunction order the Court did not
find,

nor did

it

express, nor even intimate, an opinion

that the action of the Gas Commission in fixing the
price to be charged for gas at 80 cents per 1 ,000 cubic

Severe feet was confiscatory, nor that the Act of the Legisla-

penalties are prescribed for the punishment of any

person who may

citizens of this State

its

the United States Circuit Court for the Southern District of

new measure on

all

ture establishing the

same

price (Chapter 125,

Laws

use alcohol withdrawn from bond of 1906) was in that respect unconstitutional and void.

under the provisions

of the

Act

for

manufacturing any The Court did not undertake to abrogate or nullify

beverage or liquid medicinal preparation made in that provision of the statute. As between the conwhole or in part from such alcohol, or who knowingly sumer and the manufacturer it left the question as to
violates any of the provisions of the Act, or who shall what the former should pay to the latter precisely
recover or attempt to recover by re-distillation or by where it stood before. Any consumer who might be
left by the order entirely
and to make a tender at the
free to decline to pay
for beverage or liquid medicinal purposes.
The Commissioner of Internal Revenue is now new rate for the gas he had consumed. In the case
arranging to make a study of the processes in use of a consumer who, upon demand, chose to pay the
in the leading European countries for denaturizing old rate, the order provided that the company should
alcohol, with a view to devising an efficient and strin- not cover the 20-cent difference into its treasury, but
gent system for preventing frauds upon the Govern- should leave it impounded under direction of the
ment through the operation of the new law. We have Court, so as fully to insure its return to the persons
no doubt that he will be successful in his efforts. And paying the same in the event of the company's failing
Where a consumer chose to make tenthis danger guarded against, there seems every reason in its action.
will bring great benefits to der at the new rate, and to stand upon whatever rights
to believe that free alcohol
many different industries and prove a decided advan- were secured to him by the action of the Gas Commission in fixing that rate, and by the Legislature in
tage to the people at large.
establishing the same rate, the injunction order left
him entirely free and untrammeled to apply for such
JUDGE LACOMBE'S ORDER REGARDING
EIGHTY-CENT GAS.
relief as the law affords him in the event of the comIn view of the important questions involved in the pany's seeking to compel payment of the difference.
litigation concerning the reduction by the New York Indeed, Judge Lacombe said it was not perceived upon
Legislature and the State Gas Commission of the what theory the Court could by an injunction restrain
price of gas in this city to 80 cents, and the wide any individual who was not a defendant, and had
interest felt in the subject, it seems desirable to point never been served with process, from himself applying
out just what matters are covered by Judge Lacombe's to an appropriate court, if he should conceive himself
order and opinion handed down on Friday of last to be aggrieved. This explains why Judge Lacombe
week. Judge Lncombe merely continues the injunc- does not extend the terms of the injunction order
tion previously granted and states in his opinion that so as to make it applicable to cases of that kind.
he does not intend to restrain individual customers of Of course what relief the individual might obtain
the company from bringing separate actions against it. when he so applied woukl be for such court to deterHe wrote quite an extended opinion giving the grounds mine when it heard his application. In a case of
for his ruling and setting out the views that have this kind in the Supreme Court of this State the
These of course attract present week Justice Leventritt granted an injunction
controlled him in his action.
much attention.
restraining the Gas Company from cutting off the supIt should be understood that there has been no ply of gas from a consumer.
Other similar cases are
hearing upon the merits of the issues presented. pending and the question is now b(>fore the Appellate
Judge Lacombe takes pains to state that the funda- Division of the Supreme Court whether the State
mental propositions in dispute involve many contro- courts will interfere while the test suit is pending in
verted questions of fact and that it is the practice of the Federal courts.

any other process or means any alcohol rendered

unfit

asked to pay the old rate was
it

THE CHRONICLE.

1348

[Vol. lxxxji.

Judge Lacombe's order, however, did provide that tween seller and buyer as to the rate to be paid for
gas company might charge or demand pay- anything, the question is settled by the seller bringing
ment at the old rate and might collect at suit for the price of what he has sold, calculated at
and the higher rate. In this case, however, as we have
chose
to
pay,
that rate from such as
it enjoined the defendants (namely, the Attorney- seen, the statute practically undertakes to debar the
General, the District Attorney, the City of New company from bringing any such suits against its
York and the Gas Commission), who are public customers, since all the customer has to plead is that
officers, and as such the proper persons to institute he is being asked to pay more than the price fixed
and prosecute actions to enforce and recover certain by the Gas Commission or the Legislature, and this fact
statutory penalties, from in any way enforcing or being established, he is relieved from paying his bill
not only, says Judge Lacombe, so much of it as
attempting to enforce the acts called in question until
the Gas Company should have had chance for a hear- covers the excess, but also that covering the amount
the

—

ing in court on the question of the constitutionality
of the measures.

Judge Lacombe presents cogent reasons

in

concededly due.

The gas company, therefore, has no recourse except
support by direct suit like the present, seeking, meantime, to

temporary relief. The Consolidated Gas Co., being a
"public service" or a "public utility" corporation, it
is necessarily under the supervision and regulation
of the State as to the manner in which it conducts its

of the action of a court of equity in granting

preserve its rights to the difference between 80 cents
and $1 00 by demanding payment thereof as each
monthly bill is presented. But here the law comes in
and seeks to close up this avenue of approach also.
Every time the company demands payment for gas

above furnished at the higher rate, every time it receives
State such payment from any consumer who may be willing
reasonable cost to the consumer,
all
may step in and reduce that price to such sum as will, to pay temporarily and abide the result of the test
taking everything into consideration, be a reasonable suit, it forfeits $1,000 to the people of the State.
return upon what has been adventured in the enter- The Consolidated Gas Co. has upwards of 390,000
In fixing customers and it is the custom, as is well known, to
prise on the faith of the State's franchises.
such price, however, the State should itself be fair render bills to these consumers monthly. Hence,
business.

If

the

company charges a

price far

the

—

and reasonable should certainly stop short of con- Judge Lacombe argues that long before the present
But who is to decide what would be a test suit could be determined next fall the aggregate
fiscation.
reasonable return? Under our system of Government of the penalties incurred would utterly wipe out
that question has always been

left to

the courts for

the

entire

property of the complainant

(assuming

Every individual who feels himself the statute to be valid), whether it be worth
aggrieved, either by the action of some other individual the amount found by the Gas Commission or
or of the State or the nation, possesses the ri ght to worth the highest estimate at which the most
bring his grievance before some court. That is "due astute and experienced financiers might capitalize
process f of law," a heritage from long centuries of it.
Reference is also made to the fact that the State
struggle which this nation and its constituent States
have deposited in the cornerstones of their written Gas Commission in fixing the value of the company's
property decided that the company's franchises should
constitutions.
The two statutes which are the subject of contro- be considered as possessing no value whatever, alversy do neither of them in express terms undertake though the State through its tax officers had declared
to deny a complainant access to court to test the these franchises to be worth several millions of dollars.
merit of the contention that the new rate is confisca- The reason assigned by the Commission for not intory and that therefore the old rate should be paid. cluding the value of the franchises was that "they were
There are, however, certain sections which deprive granted by the people without compensation." That
him of the power to avail of the right and clearly leave is so, says Judge Lacombe. These franchises were
determination.

the complainant in a helpless condition unless the granted very

many

years ago, at a time

when

there

By

seems to have been no intelligent appreciation of the
might become enormously valuable
provided that if it be alleged and established in any when reckless improvidence was the rule and all sorts
action brought in any court for the collection of any of franchises were given away without any provision
charge for gas or electricity that a price has been for securing to the State a fair share of unearned
demanded in excess of that fixed by the Commission increment thereon. Nevertheless, when the State
or by statute, no recovery shall be had therein; but offers a franchise and such offer is accepted and the

court comes to his aid by a restraining order.

Section 21 of the Gas Commission Act of 1905,

it

is

fact that they

made terms of the agreement carried out by the taker,
complete defense to such action. Further- there results a contract which is as much within the
be a
more, by Section 3 of the Act reducing the price to protection of the Constitution as are all other con80 cents, it is provided that any corporation or person tracts. A franchise, whatever its value may be,
violating any provision of the Act shall forfeit the which|has not expired, or lapsed, or been in some
sum of $1,000 for such offense to the people of the way forfeited, is property in the hands of its holder.
the fact that such excessive charges have been

shall

State.

If

the gas company, pending final termination

consumers the lower rate
and receive the same without protest or demand of
payment at the higher rate, it could never recover
the difference, even should it be decided by the court
of last resort that it was entitled to demand such
higher rate. Ordinarily when there is a dispute beof a suit, should charge its

Hence there
State says:

is

force in the

"We

will

argument that when the

value this property at several

when we tax you on it, but at
nothing at all when we fix the rate you may charge
for your product," it is seeking to accomplish by
indirect methods what it might not be able to accommillions of dollars

plish directly.

June

THE CHRONICLE.

16 1906. j

The point here raised, however, it is admitted,
somewhat of its force in view of the fact that,
irrespective of any action of the Gas Commission, the
Legislature has itself fixed the 80-cent rate, and there
is nothing to indicate upon what it predicated such
For aught that is known, declares Judge
action.
Lacombe, the Legislature may have reached the
conclusion that the Commission was in error in not inloses

cluding the franchises at their taxable value in the

estimate of the company's property, and

same time have concluded that

may

at the

even 5%,
is a proper return to be received by the owner of such
property. This brings the inquiry back to the fundamental question presented by the pleadings, namely,
is the rate fixed by the Legislature so low as to be

On

unjust or confiscatory?

7, or 6, or

point,

this

obviously,

the Court will not be in position to reach a conclusion
until the

mony

whole case has been presented upon

testi-

taken, not ex parte, but according to the rules

for taking testimony in equity causes.

But

in the

most

1349

the large supplies outside of

of

thus, a ride of 11 miles in Glasgow costs 11
which may be compared with the longer rides
that may be had here in New York for a nickel. A
worse result is the hampering and restricting of electric development.
In 1891-1895 only 34 miles of
street railway of any kind were built in Great Britain,
and only two British cities had adopted electricity,
while 94 per cent of the street roads in Massachusetts
were then electrically equipped; in 1900 only seven
British municipal roads were electrically run, but in
this country private capital put down 1,262 miles
of street roads in 1886-1890.
According to figures of
1901, this country, with less than double the population of Great Britain, had 23 times as many miles
of electric railway; and in 1904, of the 92 places in
Massachusetts having above 5,000 inhabitants, there
was only one without its electric-lighting plant and
58 towns of less than 5,000 population had theirs.
Mr. Burdett's proposition that the character of a
public service is to be judged quite as much by its
cents,

its

100,000 people
of the

THE LESSON OF THE RESULTS OF MUNICIPAL
TRADING.
been noted that the growth of the
Socialist and Socialist-Labor vote has been somewhat
ominously large; at the general election in 1896 it
was 36,274, which became 127,553 in 1900 and
426,376 in 1904. Municipal ownership, which in glib
and catchy phrase declares that thus will the people
come into their own and attain supremacy, is one of
the doctrines first and most loudly urged by
Socialistic orators.
The objections to this have
been often stated, but what we seem to have
most lacked has been definite information how
municipal ownership has worked in Great Britain.
To obtain this, Mr. Everett W. Burdett, of Boston,
went to England last summer and he gives the results
in a paper in the current issue of the ''Journal of
It has already

Political

Economy."

are

higher;

meantime, and in view especially of the peculiar circumstances of the case, the company is clearly entitled
to the protection which the injunction order affords.
Judge Lacombe indicates various ways in which the
hearing may be expedited and he expresses the opinion
that it can be finally submitted on the merits not
later than November of this year.
extent as by
,

London

municipal and the price of coal and labor is higher in
London than elsewhere. As to electric traction,
British municipalities have given lower fares for short
rides than are charged here, but their average fares
per mile traveled and fares for long distances are

number

cost

is

is

clearly sound;

same people, and railway
at 5 cents

dollar gas to

better than 50-cent gas to 50,000

is

travel for a great

better than to a few at 3.

So

he finds a prime fault in the inadequacy of distribution
The two chief cities in Scotland
in Great Britain.

and three of the largest in England outside of London
combined have hardly more electric lamps than has
the private

company

With a population

in Boston.

supplied one-fourth smaller than Glasgow's, Boston

many lamps

has nearly three times as
nearly three times as

many

customers.

and
Birmingham,

installed

the birthplace of British municipalism, with a population suppUed nearly as large as Boston's, has 2,374
customers and 113,000 lamps, against Boston's 15,136
customers and 1,114,000 lamps. And for a compari-

son of public with private, on British

soil,

the private

lighting plants in Newcastle being set over against

public plants in eight other cities,

it

private have nearly three times as

appears that the
many customers

more than 2}/^
generate more than six

as the average in the public plants;

times the

number

of lights;

about which there has times as much power; sell nearly five times as much
no question of propriety raised, such as bridges, current for all uses, and do this at prices more than
been
roads, sewers and the like, are outside the examina- one-third lower.
Results somewhat similar in character are found as
tion;
it relates only to undertakings more or less
Strictly public enterprises

reproductive or income-producing

England municipal trading.

— such

are

called

from
and golf-courses,
and the formulated demands of the most advanced
municipalists include bread, tobacco, milk and necessaries generally; indeed, one of the most ardent furnished an unintended warning by saying that "there
in

water- works

is

no

down

finality

to

These range

to lodging-houses

municipal enterprise;

we cannot

limit our horizon."

The best showing

and the unprogressiveness of the
public system is indicated by regulations posted in a
government telephone booth in Portsmouth, where a
clumsy and tedious "ring through" plan is in use,
and the opinion expressed by the officials about it is
curious enough to note, namely: "that it is well to
have the subscriber do as much of the necessary work
to

the telephone,

as possible in order that he

labor
is

made on municipal gas-making.

and trouble involved

may

better appreciate the

in furnishing

him with the

service."

Parliamentary reports for 1905 give the average price
Sheffield furnishes a striking example of comparaper 1,000 feet as 2s. 8d. to the consumer by public tive results, for it is stated that the private gas complants and 2s. lid. by private plants, the average pany, earning and paying 10 per cent, supplies gas
difference of about 6 cents being considered very favor- so desirable in quality and price that the city, having
able to the private plants, in view of the fact that an

electric

plant which

has cost about £800,000,

THE CHRONICLE.

1350

[Vol. Lxxxii.

it for its own public lighting, but tion as £5 7s. 7d. in 1905, which is an advance of
The non-consumer, says Mr. Burdett, 50 per cent in ten years, and is, he said, "a crippling
of the power of living of every householder."
is also a taxpayer, and he has to bear the brunt in
Accorincreased rates; "he has been made an involuntary ding to a paper prepared by the Solicitor of the Great

cannot afford to use
uses the gas.

partner in an enterprise not established for his benefit,
from which he can derive no advantage save in the
form of profits, if any are realized, and he must bear
the losses if those occur." As to the result, Lord
Avebury, in a recent letter to the London "Standard,"
said that for the year ending with March of 1903 GO
municipalities in the Kingdom showed an operating
loss of nearly £100,000 on their electric undertakings
and that this was not the full loss. What he meant
appears in his statement that in few places any sufficient charge has been made to depreciation account,

Eastern Railway, in 1899, the local debts in the Kingincreased 120 per cent in the last 20 years,
population had increased 233^ per cent and ratable

dom had

values of property had increased

26%

per cent.

Ac-

cording to some recent figures of the "Times," the
rates in the borough of West Ham increased nearly
80 per cent in the twelve years beginning with 1890;
from this Mr. Burdett deduces that a piece of property

there worth $1,800 and renting for $100 would pay
$53 35, but that the same property would pay $23 18
in Chicago, $28 80 in Boston and $26 82 in New York.
and, according to the returns of Sir Henry Fowler, it Without quoting more individual instances, the broad
appears that the average annual allowance for this, conclusion is that the British towns and cities which
in case of some 420 municipally owned plants of vari- have the largest debts incurred in municipal trading
ous sorts, has averaged less than two-tenths of one have also the highest tax rates and the slowest increase
per cent on the original capital invested. For the in population.
calendar year 1904, of 182 municipal lighting plants,
There is enough in the foregoing to give us pause in
105 showed profits of £217,000 and 77 showed losses this country and to suggest a local application. Yet
of £83,000,

an average net

number;

entire

of

66

profit

private

of

£736

plants,

61

for

the

and 5 showed losses of
£595,667
£5,000, an average net profit of £8,964 for the entire number.
The causes which have retarded development in the
modern uses of electricity are found to be, next to
the municipal ownership of gas-works, the persistent
encouragement of municipal and the equally persistent
discouragement of private undertakings given by
of

profits

the case cannot be left just at this point, for Mr. Bur-

showed dett points out why the

Great Britain could
because of the less favorable
There is a local civil service
results in

not be duplicated here
political

conditions.

there which

planted.

unknown

is

here and could not be trans-

Politics, in the

American sense, is unknown
and this "is inbred in

in local administration there,

whom

the people, to

it

does not occur to project

party politics into municipal administration."
of this, there

is

a limited franchise only.

Back

Qualified

the discouragement operating chiefly voters for municipal officials are called "burgesses,"
through the powers of obstruction granted to local under conditions which practically exclude the entire
authorities.
There has been a total lack of that indi- body of vicious electors. Albert Shaw estimates that
legislation,

vidual initiative and business energy without which at least one-third of the theoretical voters are excluded
no industry can develop; and the municipalities have from all parliamentary and municipal elections in

Women are not excluded because of sex,
exclusive
rights for themselves, under Scotland.
which they have either not established the new and "the exploitation of the slums and the non-rentservice at all or have done it after long delays, and paying population is practically impossible in Great
procured

clumsily.

The

Britain."

principal newspapers, especially in

London, are

service

is

The

level of personal character in public

naturally high, although Mr. Burdett thinks

alarmed at the outlook. The "Times" declares that it is showing signs of deterioration. As an unwholethere is "a large class of persons who vote solid for some fact, even under these conditions over two milextravagance," and their number is steadily increas- lions of wage-earners are on the municipal pay-rolls
ing; that they are not solely builders, surveyors, and in an "association" whose membership increased 47
the numerous servants of municipal bodies, "but also per cent in 1904 and offers, as an inducement to join
expectant beneficiaries of such extravagance people it, "the wonderful influence at municipal elections"
who have a vague but firm belief that if much is spent which it claims to exert.
something will come their way." The "Standard"
Here in New York, says Mr. Burdett, there are
speaks of what it calls "the disease of municipalism," about 50,000 men employed by the electric, gas and
and its figures show that the borough of Hammer- transit companies; if these were added to the 50.000
smith in 1888-1905 increased in population 20 per on the city pay-rolls, the combined force would be
cent, in ratable values 42 per cent and in local debt one-sixth of the voting population, and if united and
280 per cent. In July last some 700 prominent men aided l)y their relatives and friends, such a combinaassembled at a meeting in London to which only tion would be irresistible. The private citizen is now
rate-payers were admitted, the subject being "the urged to take some part in politics, and he more or
burning question of London municipal expenditure." less forces himself to comply; it would then be useless

—

had for him to take the trouble. A certain local politician,
and that there is danger of now a member of Congress and widely known for his
driving away great industries, in which case the ulti- singular nickname, is reported to have said, after permate recoil will be on the working-classes. The chair- sonally looking over municipal trading abroad, that
man of the Great Eastern Railway said that industrial if the same expansion of public functions could be
prosperity is threatened and if the present drift in secured in New York j Tammany Hall would be solidly
expenditures continues the national credit itself will entrenched for at least a hundred years. That may or
be disturbed. The Treasurer of the Chamber of Com- may not be; it may be left to the imagination to conmerce gave the per capita cost of London administra- ceive the results.

The Duke

doubled

of Norfolk said that the expenditure

in recent years,

.

June

THE CHRONICLE.

16 1906.1

1351
Both are important

gross earnings.

RAILROAD GROSS EARNINGS FOR MAY.

One

of these

soft-coal roads.

the Buffalo Rochester

is

&

Pittsburgh,

In the face of some adverse conditions returns of which earned gross of only $373,764 in May 1906, as
railroad gross earnings continue very satisfactory. against $769,447 in May 1905, and the other is the
We present below our usual preliminary compilation Wheeling & Lake Erie, which reports gross of $342,816
As in all pre- this year, against $426,202 in the month last year.
of the results for the month of May.
ceding months, these preliminary figures cover only The losses in these instances are large because the lines
those roads and companies which furnish early re- are so directly concerned in the carrying of coal, but
It will not be possible to there must have been a quite general shrinkage in the
turns of their earnings.
present the full statement (comprising all the roads in coal traffic from the causes mentioned on other roads,
the country from which we procure monthly figures) though as the falling off in these other instances was
until four or five weeks later. It should be noted, smaller, it is concealed by reason of the growth in other
however, that our statement this time comprises a classes of traffic.
In the South the roads had to contend with a smaller
number of roads not heretofore included in the preliminary tabulations we mean the various controlled cotton traffic we mean smaller than a year ago when
and affiliated roads of the New York Central system. the movement of the staple to market was of unusual
Previously monthly figures have been given out only dimensions for the season of year. At the Southern
for the New York Central itself, but now we have the outports the receipts the present year reached only
earnings also of the Michigan Central, the Lake Shore, 337,200 bales, as against 626,431 bales in May last
the New York Chicago & St. Louis, the Cleveland Cin- year, while the shipments overland were 72,461 bales,
Practically all the
cinnati Chicago & St. Louis, the Pittsburgh & Lake against 106,311 bales last year.
Erie, the Lake Erie & Western, the Rutland, the various points shared in the falling off, as may be seen
Peoria & Eastern, the Cincinnati Northern and the from the following detailed statement.
Chicago Indiana & Southern.
The fact that the various controlled roads of the RECEIPTS OF COTTON AT SOUTHERN PORTS IN MAY, AND FROM
JANUARY 1 TO MAY 31 1906, 1905 AND 1904.
New York Central are this time included and the cirMay.
Since January
cumstance that these controlled roads show very much
Ports.
1906.
1905.
1904
1906.
1905.
1904.
larger gains both absolutely and proportionately than
Galveston
bales 73.662 1.39.445 26.786
765.939
811.505
531.965
the Central itself, brings to view one of the adverse
Sabine Pass, &c
48.368
159.480
3,894 51.990
43.520
New Orleans
81.674 137.987 44.122
699.656 1.010.157
639,630
63.448
94.141
13,347 18.914
3.553
34.749
which the railroad carrying interest had Mobile
features with
Pensacola, &e
190
77.831
5.866 19.409
80,134
38,476
Savannah
474.911
85.178 130.031 16.377
344.468
216.918
to contend during the month under review.
For the
Brunswick, &c
50.698
9.583
9.289
59.655
26,838
"'189
Charleston
6.355
9.628
26.314
40.446
15,692
whole New York Central system the increase as comPort Royal, &c
49
643
271
346
Wilmington
151
19,169 29.303
46.838
86.677
27,700
34.513 74.777
8.611
140.483
246.271
129,834
pared with the corresponding month of 1905 is $1,476,- Norfolk News, &e
Newport
910
5.658
748
10.150
14.464
13,698
148.
For the Central itself the increase is only $112,- Total
-.
337.200 626.431 100.727 2.276.096 3.066.852 1,719,366
739.
What reduced the amount of the Central's gain
no doubt was the strikes at the coal mines. The New
In view of all this it is quite noteworthy that the
York Central has built up in recent years quite an ex- gains in earnings should have reached such large pro-

—

—

,

1

,

,

coal business, more particularly over its portions.
Our statement comprises 71 roads and on
Pennsylvania division, and hence anything that serves these the increase over May 1905 reaches $9,323,116,
to reduce the volume of this tonnage is at once re- or 13.37%, this covering 96,593 miles of road the
flected in the revenue returns.
Mining in the anthra- present year. Comparison, too, is with pretty good

tensive

be remembered, was resumed in earnings in May 1905. Our early statement at that
after suspension the whole of April, but even here time covered 74,767 miles of road and the increase

cite regions, it will

May

the miners did not return to work until the 10th of the amounted to $3,823,386, or 8.58%.
In fact, our May
month. In the case of the bituminous coal fields the summaries have shown continuous gains for the whole
strikes

were continued

all

through May, except, of of the

last eleven years

course, in those instances where the operators granted

1904.

the 1903 scale of wages at the beginning of April, and

summary

This fact

where, therefore, no stoppage of work occurred even
in April.
This cut off a goodly supply of the customary coal tonnage. Some of the Central's controlled
roads must also have suffered a reduction of their coal

through the Middle Western States
as well as in Western Pennsylvania large numbers of
mines were idle; but these other roads have no such
large coal tonnage as the Central itself and therefore
traffic, since all

the strikes did not affect

the Central.

many

them

to the

same extent

as

In truth the coal strikes extended to

and numerous roads in widely
separated sections sustained a decrease in tonnage on
that account, though quite generally the loss in this
way was made up by gain in other classes of traffic
arising from the activity and prosperity of all indusdifferent States,

of the

is

with the single exception of

made apparent by

May

figures

Gross Earnings.

Mileage.

Year
Given.

May.

Roads Miles.

1897
1898
1899
1900
1901
1902
1903

125
128
111

114

97,.';37

99
84

99.916
91.858
101,759
85.108
74.767
96,593

81

1904
1905
1906^...

Jan.

93,637
96,860
91,958

1 to

1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
Note.

66
53
71

May
124
126
110
113

99
84

93,308
96,708
91.920
97,264
99.916
9 1. 8.58
101.7.S9

66

85,108
74,510
96.517

70

Year

ceding. CT'se.

Miles.
92.963

95.748
90.390
95.638
96,630
90,262
99.723
82.820

%
0.72
1.16
1.73
1.98

3.39
1.76

Preceding.

$

50.323.090
62,.565. 693
54,001.062
44,543.718
69.742.596

0.72 179.431.982 180.894.891
1.16 212.802.464 183,519.317
1.28 192.631.594 183,058.659
1.99 258.503.791 225.084.715
0.28 279.4.58,040 2,')5. 282. .597
,OSS ,244. 34.988
1 .76 264.53
2.04 340.451,843 300.727,974
2.76 254,210,014 259.877.293
2.09 231.262.020 217.1.58.045
2.32 379.538.324 327.370.546

+)

%

3.91

4-5,648,.5S0 14.59

.52.167.814

92.634
95.598
90,752
95.365
99,632
90,262
99,723
82,820
72,973
94,322

48,367,104
79,065,712

+ 1.413.992
+ 2.708,016
+ 4,934.647
+ 5.2.36.185
+ 4.619.227

36.190.355
38.694.312
41.861.285
47.911.099

94.398

.W. 134.881

(

(^)

$

$

37,604,347
44,342,892
44,569,301
52,845,746
57,403,999
54,942.317
70,028,295

2.04
2,76
2.09
2.33

73.2.'^0

Increase
or
Decrease

Year

Given.

/n-

+
— 7.462,602
1,866.181

+ 3.S23,3.S6
+ 9.323.116

6.46
10.29
10.03
9.17
1

1

.92

3.44
8.58
13.37

31.

81

51

Yr. pre-

the following

back to 1897.

—Wc do not Include the Mexican

1

1

roads

In

any

—1.462.909 0.81

+ 29.283.147
+ 9..572,935
+ 33,419,076
+ 24,175,443
+ 20,396,100
4

39.723.869
5,667,279

+ 14,103,975
+ 52,167.778

15.95
5.22
10.84
9.47
8.35
13.21
2.18
6.49
15.93

of the years.

These favorable results for the roads as a whole are
naturally reproduced in the case of the return.s of the
compilation there are two which give evidence of the separate roads.
Out of the whole 71 roads reporting,

trial interests.

Among

the roads contributing returns to our present

effect of the coal strikes in a considerable falling off in

there areJonlyj8jaltogetherJwhich'are obliged to con-

THE CHRONICLE.

1352

and in only two instances
do the decreases reach amounts of any consequence
4;hese being the two roads already mentioned as having
suffered severely from the coal strikes, namely the
Buffalo Rochester & Pittsburgh and the Wheeling &

[Vol.
WESTERN GRAIN RECEIPTS.

fess a decrease in receipts,

Lake

On

Erie.

the other hand, the increases are not

FlouT.

Com.

Rye.

llnish.)

Oats.
(Imsh.)

Barteu.

(bush.)

itnuh.)

(friaS.)

773.603
536,735

659,861
811.224

8.444.639
6.310.497

7.216.562
5.091.675

870.285
1.586.137

111.411
103.797

329.575
166.040

457,600
376,160

363,850
104.500

700,000
525.200

635.800
885.400

51.200
55.200

200.560
188.065

983.229
690.593

4.215.800
1,171.375

2.235.600
7,585.430

50.050
30.000

20.387
17.000

152.000
117,500

694.000
396,500

454,200
1.012.800

900

10.500
7,600

33,700
20,250

108.389
155.620

329.860
290.847

185.555
268,511

6,033
5,024

58.746
26,950

.?92,721

191.374

594,944
607.134

69,680
2,926

132,750
48.950

54.000
56.800

1,750.000
988,800

2,520,500
766.200

125.000
92,600

58.800
18.400

602,200
469.500

—

Wheat,

ibbls.)

Five weeks ending June 3.

1.285.367
78.572

272.547
91.529

71,545
118.405

9.982
».518

.306.490

206.498

50.654
44.700

2,129.750
2,921,966

312.934
252.215

CMcago
1906
1905

Milwaukee

—

1906
1905

Sl.Louit—
1906
1905
Toledo

—

1906

only general but many of them are, as heretofore,
1905
DelrM—
1906
for large amounts.
Moreover, these large gains come
1905
from many different parts of the country. There are Cleveland—
1906
1905
the Canadian Pacific, with $1,342,000 increase, the Peoria—
19061905
Northern Pacific, with $916,144 increase, and the Duluth —
1906.
Great Northern, with $713,430 gain, among the trans1905
Minneavolia—
1906
continental lines on the north; the Baltimore &Ohio,
1905
with a gain of $976,857, and the Lake Shore, with Kansas City—
1906.
1905
a gain of $516,338, among the trunk lines; the Southern
Total of all —
1906..
Railway, with $583,679 gain, and the Louisville &
1905
Nashville, with $491,786 increase, among Southern
Jan.

roads;

and the Missouri

Pacific,

with $347,000

among Southwestern roads.
The good showing made by Southern

in-

crease,

I

The Yazoo &

Mississippi Valley

for illustration,

recovery.

may be mentioned

that road reporting $736,633 gross

Illinois Central,

which controls

is

it,

2.078.421
1.435.764

9.012.962 18.292,710 16.107,748
7,833,299 10,736.033 11,469.439

1.965.191
1,092 484

2.686.5.36 35.039.559 33,541.309

8.417.223
7.036.478 46.463,833 25.548.557 10.072,381

710.339
551.510

,002.850

657.390

1.978.240
1.924.200

3.509.300
2.662.400

6,162.700
4.468.800

397.600
284,500

917,285
978,520

1906..
1905
1906
1905
DetToit—
1906..
1905-..

5.163.664 13.535.110 11.192.600
4.732.868 6.275.182 6.737,050

1.261.300
1.062.500

255.387
234.648

2.740
6,950

48.800
55.200

3.457.050
1.601,700

611.000
460.100

1,557.400
2.961.150

127,900
87,550

517.895
313.798

2.984.131
2,566,430

1.527.779
1.138.813

25.886
11.804

265.582
350.125

2,513,260
4,064.525

2,123,779
2,269,451

215.070
55.290

436.450
302.400

287.300
328.000

6.401.900
5.079,800

9.169.000
3,389.600

1.280.500
1,078.200

162.900
121.500

812.500
618,500

8.255,856
2.337.334

80.096

2.923.288
2.064,633

1.423,587
394,481

116.378
41,138

34.539.240
29.397.141

1.878.546
2,403,605

8,247.040
5.576.660

3,844,630
3.402.978

472,924
449.803

6.552.000
6.443.800

—

2.772.000
3.577,500

8.367.000
5.592,700

2,618,600
1,872,000

Cleveland

1906
1905
Peoria
1906
1905

—

Dvlnth—
1906
1905
Minneapolis
1906
1905---

—
Kansas City —
1906
1905

receipts this year, against only $599,459 last year.

The

694.800
350.400

1

Louis—

Toledo—

now showing decided

1.879.000
1,121,000

;

—

1906
1905...

but the South is enjoying great prosperity and of course the roads running through the
Southern iron districts, or connecting with the same,
are deriving special advantages from the activity of the
iron and steel trades.
It should also be observed that
the lines which last autumn suffered severely from
the yellow fever are

1.233.040
1.170.560

1.417.000
878.000

;

St.

traffic,

222,840
161,140

—

Milwaukee

roads attracts

3,836.770
4.742.880

to .lune 2

Chicago
1906
1905

particular attention in view of the contraction in the

cotton

lixul

Total of all

—

1906
1905...

also doing

7.288.062 60.857.313 76.948,556 76.410.095 22.607.750 2.164.328
5.748.948 53.323.844 77,701,.371 54,220.314 20,541.580 1,738,299

well.
In the following we show all
To complete our analysis, we furnish the following
changes, whether increases or decreases, in the case
six-year comparisons of the earnings of leading roads
of the separate roads for amounts in excess of
arranged in groups according to their location.
$30,000.

exceptionally

"

EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP.

PRINCIPAL CHANGES IN GROSS EARNINGS IN MAY.

May.

Increases.

Canadian Pacific
$1,342,000
Baltimore & Ohio
976,857
Northern Pacific
916,144
Gt. North (Sys. (2 road.s)
713,430
Southern Railway
583,679
Lake Shore & Mich. So
516,338
_

Louisville & Nashville ^^
Mo. Pac. Syst. (2 roads),
Grand Trunk (4 roads) _ _
Minn. St. Paul
S. M.

&S

Denver & Rio Grande. __
Canadian Northern
Clev. Cin. Chic. & St. L_
Michigan Central
Central
Pittsburgh & Lake Erie.
Illinois

Wabash
N. Y. Chic. & St. Louis.
Mobile & Ohio

Yazoo &
Colorado

Mis.sissippi

&

Val.

Southern...

491,786
347,000
322,508
263,948
262,700
260,700
230,888
229,236
210,212
160,551
158,666
155,689
148,084
137,174
133,947

Central of Georgia

Western Maryland
New Orl & Tex Pac.

Cin

New York Central
Chicago & Gt Western .
Texas & Pacific
St. Louis & Southwest.Ala New Or&TexP(3rds)
Detroit Toledo & Ironton
Minneapolis & St. Louis.
.

Alabama Great Southern
Gulf & Ship Lsland
Peoria & Eastern
Virginia Southwestern _.

$125,642
117,406
114,672
112,739
108,572
105,738
94,868
52,175
47,656
43,318
37,967
36,775
34,770
32,189

$
372.764
501.805

Buffalo Roch.

roads)

&

$9,625,924

Wheehng & Lake

$396,683
83,386

Total (2 roads)

would appear to have been true

most

Illinois Central

NYC&HR RRo
Tol P& West.
Tol St L & W.

Wabash

Wheeling

of

The

off in

4 031,290

7,250.241
93.410
311.429
2,018.867
342.816

3.821,078
7.137,502
102.658
284.402
1,860.201
426.202

1903.

1904.

S
626,191
454.773
2.976.553
3,794.563
6.369.999
104.110
298.417
1,889,106
309,005

S
652,128
439,524
2.348,086
486.163
i
78,837
4,043,794
6,712,479
100,095
247.932
1,928,672
378,556

1902.

$
584.135
420.629
2,053,663
423.386
97.330
3.462.869
5.963.615
98.304
207.423
1.510.760
342.555

1901.
$

518.987
374.573
1,945.140
328,982
68.131
3,173.307
5.783.869
98,362
232.060
1,411.685
246,878

18,326.297 17.969.023 16,822,717 17,416.266 15.164.669 14.181,974

and 1905 but not

in the earlier years earnings of

Canada

&

Atlantic.

Brook System, the Beech Creek RR. and the Wallkill Valley RR.
and Boston & Albany included for all the years.
ff

The

Fall

EARNINGS OF SOUTHERN GROUP.
May.

1905.

1904.

1903.

1902.

1901.

$
277,976

$
254.526

S
250,491

S
210.600

»
174.482

236,188
105,865
111.528
643.351
3,206,274
715,975
3,850.972
599.459

182,115
91,102
97,208
660.127
610.510
2.920.407
652.044
3,532,129
581.447

194.369
87.767
109.582
633,816
610,323
3.024.385
523.005
3,448,780
625,941

172.926
78.168
88,493
556.715
547.887

599,364
3,173.370
462,994

147,123
67,903
63,375
470,048
459.609
2,386,873
509,567
2,802.887
440,816

12.202,219 10.511.140

9.581,615

9,508,459

8,415.817

7.522,683

1906.
S

Ala Gt South-.
Ala NO & T P
N O&N East
Vicks Sh

Cent

C

of

&P

Ga

NO & Tex P.

Louis

&

Nashd

Mobile* Ohio.
Southern Ry..
Yazoo & M Val

deliveries of barley did not equal those of the
previous year, and at several of the points there was

a falling

&LE

Total

Ala&Vicks.

them. At
all events, aggregate grain receipts at the Western
primary markets were heavier this year than last year.
of

$

DetGH&Mil

$480,069

Pittsb..
Erie. _

1905.

Buff Roch&Pit
769.447
Chic Ind & Lou
486.366
Gr Tr ol CanGr Tr West-- 63,403,675 63,081,167

6 Includes In 1906

Total (42

It deserves to be noted that the Western graincarrying roads had the advantage of a larger grain
movement. This is not true of all the roads, but it

also

1906.

Total

315,943
262.768
121.695
121.293
889.094
758.023
3.698.060
864.059
4.434,651
736.633

763. ,552

d Includes earnings of Atlanta KnoxvlUe

the wheat receipts, though the

&

2,625,.300

Northern in 1904, 1905 and 1906.

EARNINGS OF SOUTHWESTERN GROUP.
wheat movement as a whole ran in excess of that of
In the case of corn and oats, however, there
1905.
1906.
May.
1905.
1904.
1902.
1903.
S
S
S
$
$
were increases of quite large proportions. Taking
Col & South., a
9,55.846
821.899
659.604
536.769
694.458
Rio Gr.
wheat, corn, oats, barley and rye together, the receipts Den&&Gt North 1,681.600 1.418.900 1.318.682 1,416,881 1.389.612
Int
500.600
366.830
421.264
379.262
490.504
Mo Kan & Tex 1.087,740 1.667.725 1.331.847 1.395.285 1.337.896
for the five weeks ending June 2 foot up 45,856,104 Mo P & Cen Br 3,857,000 3.510.000 3,289.412 3.324.803 2.955.879
.

St

bushels in 1906, as against only 33,212,952 bushels in
the corresponding five weeks of 1905. We annex
herewith the details of the grain movement arranged
,

in our usual form.

L & So West

Texas

& Pacific

Total

1901.

S
557,212
1,367.571

767,832
982.901

672.964
877.163

558.461
798.891

534.659
910.348

573.357
804,072

387,190
1,251,999
2,824.180
531,668
884.128

10,433.519

9,459.155

8.200.892

8.697,698

8.099.682

7,803,948

a For 1906 and 1905 Includes Colorado & Southern, Fort Worth 4 Denver City
and all afnilat«d lines. For previous years we have combined Colorado & Southern
and Fort Worth & Denver City.

..
-.
.
.

-

June

.

.

. .

.

THE CHRONICLE.

16 1906.

EARNINGS OF NORTHWESTERN AND NORTH PACIFIC GROUP.
May.

1902.

$

588,450
226.553
2.917,243
208,745
289,699
527,984
3,406,274

$
2.654,847
593.190
224,938
2,307.525
163,009
259,001
415,231
2,919.509

17,636,151 14,219,161 12,508.392 12,779.414 11,402,030

Total

1904..

$

9.537,250

1905.

$
5.545.000
688.057
265.215
4,.381.023

225,290
296.839
890.403
5.343,324

S

1903.

S
3,902.962
633.162
244,305
3,211,030
180,656
227,943
579,526
3,799,831

4.113,626
586,531
181,925
3,044.643
178.219
197,311
489,229
3,716,908

4,203,000
579,485
254,551
3,667,593
207.376
253.521
626.455
4.427.180

3.2.37.082

last year.

GROSS EARNINGS AND MILEAGE IN MAY.
Gross Earnings
of

Mileage.

Road.

Alabama Gt Southern.
Alabama NO& Tex P—

New Or & Nor East.
Alabama & Vicksb'g
Vicks Shrev & Pac
Baltimore & Ohio
Bellefonte Central
Buffalo Roch. & Pitts
California No. Western.

Canadian Northern
Canadian Pacific
Central of Georgia

Chattanooga Southern.
Chicago Great Western.
Chicago Ind. & I.ouisv.
Chicago Ind. & South. _
Chicago Terminal Trans
Cin New Orl & Tex P..
Cincinnati Northern
Cleve. Cin. Chic. &St.L
Peoria & Eastern
Col.<fe Southern, includ.

236,188
262,768
121,695
105,865
121,293
1 1 1 ,528
6,817,033 5,840,176
4,245
4,395
372,764
769,447
115,200
130,271
349,400
610,100
5,545,000 4,203,000
889,094
763,552
12,882
10,032
688,057
579,485
486,366
501 ,805
168,549
171,173
132,433
136,509
758,023
643,351
86,303
66,520
1,989,663 1,758,775
237,574
202,804

+ 37,967

196
143
189
4,027
27
—396,683
538
—15,071
205
+ 260,700 2,100
+ 1,342,000 8,776
+ 125,542 1,878
+ 2,850
105
818
+ 108,572
591
+ 15,439

309
196
143
189
4,027
27
538
205
1,602
8, .568

1,878
105

818
.591

—2,624
—4,076

340

+ 114,672
+ 19,783
+ 230,888
+ 34,770

336
248

212
102
336
248

1,983

1,940

350

350

102

Ship Island
Illinois Central
IlUnois Southern
Internat. & Gt. North.

& Nashville& Western..

Lake Erie
Macon & Birmingham.

Manistique
Michigan Central
Mineral Range
Minneapolis & St. Louis
Minn. St. P. &S.S.M.
Missouri Kansas & Tex
Pacific & Iron Mt.
Central Branch

Mo.

Ohio

Nevada Cal. & Oregon
N. Y.Cent. & Hud.Riv
N. Y.Chic. <feSt. Louis
Northern Pacific
Pittsburgh & Lake Erie
Rio Grande Southern.
Rutland
St. Louis Southwestern
Sierra Railway Co
Southern Indiana
Southern Railway
Texas Central
Texas & Pacific
Toledo Peoria & West
Toledo St. L. & West..
Toronto Ham. & Buff..
Virginia & So. Western
Wal)ash
Western Maryland
Wheeling & Lake Erie.
MississippiVal.

Incrtase.

Detroit & Mackinac
Detroit Toledo & Ironton,
including Ann Arbor Syst
Duluth South Shore & Atl..
Georgia Southern & Florida.
Grand Trunk of Canada

3,900,036
43,116
2,975,271
881 ,335
2,195,515
609,982
3,017,203
304,021
8,302,445
1,090,106

4,736,036
7,712,920
504,934

3,723,126
6,478,559
415,990

1,012,910
1,234,361
88,944

829,422

1,306,420
1,092,668
692,469

301,231
91,092
136,953

15,350,704

14,060,930

1,289,774

18,331,905
1,124,465
957,791
21,789,114
121,150
2,522,585

& St. Louis
Peoria & Eastern
Colorado & Southern, includ
Fort Worth & DenverCity
Denver & Rio Grande

14,827,879
1,008,150
764,680
19,527,353
102,214
2.366,478
1,037,204
1,890,811
15,016,097
15,812,307
50,185
27,483
8,826,736
273,572
1,187,601
3,239,565
7,725,406
15,877,873
632,670
3,326,165
75,175
32,135,702
3,631,214
19,267,548
4,969,826
193,197
915,274
3,407,739
530,454
19,386,199
292,868

3,504,026
116,315
193,111
2,261,761
18,936
156,107
150,967
232,107

.395

684
586
395

+ 3 22 ,.508

4,528

4,554

+ 697,981
+ 15,449
+ 36,775
+ 210,212
—4.929

+ 10,096
+ 17,914
+ 516,338
+ 491,786
+ 14, .387
+ 2,193
+ 5.170
+ 229,236
+ 2,698
+ 43,318
+ 263,948
+ 20,015
+ 326,000
+ 21,000
+ 148,084
+ 214
+ 112,739
+ 155,689
+ 916,144
+ 160, .551
+ 6,045
+ 4,391
+ 94,868
+ 1,704

40,732
222,729
672,964
31,517
100,992
3,850,972
50,529
877,163
102,658
284,402
56,197
65,829

,520

.520

388
926

144
3,774

.388

523

523

5,781
191

5,617
191

180
468

180
468

1,451

1,441

76
201
7,504
227
1,826
248
451
88
134
2,517
536

76
201

—83,386

488

+ 137,174

1,210

+ 173,315
+ 35,700

t

7,201

227
1,826

248
451
88
134
2,517
477
488
1,210

96,593 94,398

+ 85.168

736
884

736
884

321

321

?/71,188

2/73,401

—2,213

263

263

1,213,206

1,073,496

+ 139,710

1,730

1,683

y Figures here given are for three weeks only of the month in both
fourth week not yet reported.

years;

GROSS EARNINGS FROM JANUARY
Road.

1906.

1

TO MAY

1905.

Gulf

&

.

<fe

31.

Increase.

S
1,606,446

$
1,355,801

$
250,644

1,346,080

1

,093 ,5,59
.543,013

Decr'se.

2.52,.521

621 ,478
610,511

Vicks Shrev <fe Pacific
Baltimore & Ohio
Bellefonte Central
Buffalo Rochester & Pittsb.

32,208.834

California North Western
Canadian Northern
Canadian Pacific

496,642
2,257,800
24,776.428

22, .568

2,708,261

568,232
27,377 162
23 ,846
3,216,190
514,328
1

,384 ,200

18,873.701

Ship Island
Central

Southern

International & Gt. North..
Iowa Central
Lake Erie & Western

Lake Shore & Michigan Sou.
Louisville

&

Nashville

Macon & Birmingham
Manistique
Michigan Central
Mineral Range
Minneapolis &St. Louis
Minn. St. Paul & S. S. M...
Missouri Kansas & Texas
Missouri Pacific & Iron Mt..
Central Branch

Mobile

Nevada

& Ohio
California

&

Oregon.
N. Y. Central & Hud. River
N Y Chicago & St Louis.

Northern Pacific
Pittsburgh

& Lake

Erie..

Western Maryland
Wheeling & Lake Erie

1,188,171
2,122,918
17,049,798
18,134,986
60,555
36,696
10,445,699
295,968
1,372,106
4,379,232
8,203,248
17,524,5.38

Missis.sippi

Valley.

Total (70 roads)

2,032,230
2,010,313
4,072,356

,4,826,987

483,755
1,306,971

268,728
311,490
8,956,770
1,579,460
1,795,972
3,476,674

2,0.33,701

2,322,679
10,370
9,213
1,618,963
22.396
184,505
1,139,667
477,842
1,646,665
85,621
786,003
2,028
3,093,877
463,164
4,462,347
717,554
27,767
94,793
261 ,089
30,256
3,260,200
72,370
742,341
18,516
179,546
41,931
133,256
1,049,613
452,770
214,341
595,782

379,5.38,324 327,370,546 52,694,671 526,893

Net increase (15.93%).

52,167,778

Mexican Roads (not inc luded in tot als).
Interoceanic of Mexico
2,843,177
2,720,641
Mexican International
3,375,229
2,717,159
Mexican Railway
2/2,693,700 ^2,444,400
Mexican Southern
2/495,2.38
2/481,002
National RR. of Mexico
5,964,504
5.099,630
y These figures are

down

122,536
658,070
249,300
14,236
864.874

S

78,465
42,279
4,831,672

end of the third week of

May

only.

A letter which we have this week received from Cashier
John D. McKee of the Mercantile Trust Company of San
Francisco sets out so fully the operations of the banking
institutions and the Clearing House /from the time of the
earthquake of April 18 until the termination of the holidays
on June 2, that we give herewith, as a matter of record, the

communication

in its entirety:

San Francisco, California, June 7 1906.
Gentlemen. ^Replying to your favor of the 1st inst.. we beg to say
that on April 18 1906 the San Francisco Clearing-House held a meeting
at 9 a. m. (four hours after the earthquake) and decided that the banks
.should remain closed on that day.
At that time the fire was burning along the lower part of the cit.y,
some blocks distant. The fire-engines in the banking district had water,
and it was not thought that the fire would reach the banking centre.
By two o'clock the supply of water was exhausted. Thereafter the fire
burned without check. The offices of the banks were destroyed on the
afternoon and evening of the 18th.
As we have already written you,
our building escaped serious damage.
Preliminary meetings of the Clearing-House were held on April 20th
and 21st. The first formal meeting was held on April 23d at the residence of Mrs. Martin, corner of Broadway and Buchanan streets, and
daily thereafter at the residence of H. T. Scott, corner of Clay and
streets.

On

April 25th most of the banks had established temporary offices
in residences in the Western Addition; the Mercantile Trust Company
of San Francisco, as already advised you. u.sing its safe-deposit room.s
as its office.

1,278

507,920
17,686

873,600
5.902,727

to the

BANKING CONDITIONS IN SAN FRANCISCO
FOLLOWING THE EARTHQUAKE.

Laguna

Alabama Great Southern.
Alabama N O & Tex Pac—
New Orleans Nor East.
Alabama & Vicksburg

M

including East, of Minn.

926

144
3,774

+ 32,189
+ 1.58,666
+ 117,406

included n totals)
612,311
527,143
725,701
552, .386
?/4 10,500
V374.800

558
1

4,035
886
886
97
97
78
78
1,745 1,745
140
140
799
799
2,145 1,828
3,042 3,042
5,891 5,849

—9,248
+ 27,027
+ 4,925

+ 9,323,116

1,1.59

558
1

—5,702

354,152
426,202
599,459

332

4,206

+ 583,679
+ 14,747
+ 105,738

1,860,201

J

Montana Central
Illinois
Illinois

1

Mil.

Yazoo &

684
586

1,153,981

Haven &

1,159

+ 47,656
+ 10,664
+ 17,152

626.455
1,667,725
3,377,000
133,000
715,975
20,306
7,137,502
688,547
4,427,180

Detroit Gr.

Canada Atlantic
Gt. Northern— St. P. M.&

10, 005, .38 3

253,041
254,551
137,476

163,061
3,821,078
22,858
490,504
207,376
3,135,773
3,206,274
386,058
9,603
8.550
1,869,850
58,895
253,521

Grand Trunk Western..

Decr'se.

S
780,742
16,955
492,019
95,519
84,595
88,166
653,510
77,482
,020,282
113.843

4,680,778
60,071
3,467,290
976,854
2,280,110
698,148
3,670,713
381 ,503
9,322,727
1,203.949

Wabash

1,729
2,460

79,065,712 69,742,596

Mexican Southern
National RR. of Mexico

of

1905.

1,607,651
1,183,760

Chattanooga Southern
Chicago Great Western
Chicago Ind & Southern
Chicago Indianap. & Louisv.
Chicago Terminal Transfer.
Cin New Orl & Texas Pac. .
Cincinnati Northern

5,860 5,701
250
250
307
280
4,459 4,374
137
137

1,725
2,470
333

Net increase (13.37%)
Mexican Roads (no
Interoceanic of Mexico.
Mexican International.
Mexican Railwa.y

Central of Georgia

Rio Grande Southern
Rutland
St. Louis Southwestern
Southern Indiana
Southern Railway
Texas Central
Texas & Pacific
Toledo Peoria & Western.
Toledo St. Louis & Western
Toronto Hamilton & Buffalo
Virginia & South Western..

+ 133,947
+ 262,700
+ 21,347

199,836
4,031,290
17,929
500,600
225,290
3,652,111
3,698.060
400,445
11,796
13,720
2,099,086
61,593
296,839
890,403
1,687,740
3,703,000
154,000
864,059
20,520
7,250,241
844,236
5,343,324
1,314,532
46,777
227,120
767,832
33,221
95.290
4,434,651
65,276
982,901
93,410
311,429
61,122
98,018
2,018,867
471 ,.558
342,816
736,633

Iowa Central
Lake Shore & Mich. So.

Name

1906.

718,191
4,112,158
77,203
35,229,579
4,094,368
23,729,895
5,687,380
220,964
1,010,067
3,668,828
560,709
22,646,399
365,238
5,569,328
502,271
1,486,517
310,659
444,746

300,697
265,215
154,628

&

Total (71 roads)

1905.

309

+ 26,580
+ 15,830
+ 9,765
+ 976,857
+ 150

Grand Trunk of Canada
Grand Tk. Western. 3,403,675 3,081,167
Det.Gr. Haven &M.
Canada Atlantic
Gt.North.—St.P.M.&M
incl. East, of Minn 4,158,354 3,460,373
Montana Central
222,669
207,220

Yazoo &

1906.

821 ,899
1,418,900
83,536

Det.Tol.& Ironton.incl.
Ann Arbor S.ystem.
Duluth So Sh. & Atl...
Georgia South. & Fla.

&

)

955,846
1,681,600
104,883

Ft .Worth &Den.Cy.

Denver & Rio Grande.
& Mackinac

Detroit

Mobile

+ or
(— ).

S

$
277,976

315,943

{

Dec.

1905.

1906.

Louisville

Road.

'

Inc.

Gulf

of

Cleve. Cin. Chic.

a Results are ba.sed on 111 miles less road after 1904.
6 Figures for May 1906 not yet reported: taken same as

Name

Name

1353

1901.

1906.

Canadian Pac.
Chic Gt West o
Duluth S S & A
Gt North Syst.
Iowa CentralMinn & St L..
M StP & SSt M
Northern Pac-

.

In order to relieve the needs of the people who were caught without
ready money, a temporary bank, known as the San Francisco ClearingHouse Bank, was established in the office of the United States Mint.
The respective banks made depo.sit with the Clearing-House Bank by
means of Eastern transfers through the Mint. Beginning May Ist^
advances were made to depositors by means of warrants payable at tha

THE CHRONICLE.

1354

Clearing-House Bank to the debit of the respective banl^s. These payto $600 to any one customer.
Beginning May 3(1 the banks opened special accounts with their customers, receiving for credit cash and items other than checks on San
Francisco banks, paying their checks against the same either in cash or
by checks payable at the Clearing-House Bank.
Beginning May 7th it was arranged to have a daily clearing of special
checks, the clearing taking place at the residence of Mr. Scott. Within
the next day or so the limit of payments of $500 was removed in regard
to funds needed for pay-rolls, freight, duties, taxes, etc.
On May 7th the safe-deposit vaults of the Union Trust Company of
San Francisco, the Crocker-Woolworth National Bank and the Mercantile Trust Company of San Francisco formally re-opened for business.
During the period from May 7th to May 19th a large amount of business was done by the respective banks through these so-called special
accounts.
Towards the end of this time practically all restrictions were
removed, and customers were furnished with whatever facilities were
really needed.
On May 19th a^.Clearing-House settlement was made of all old checks
depo.sited up to the evening of April 17th.
On Monday, May 21st, a Clearing-House settlement was made of all
checks deposited or received since April 17th. This was an important
clearing, and was really the opening day for business.
This clearing
was held in the directors' room of the building of the Mercantile Trust
Company of San Francisco, which room will be used by the ClearingHouse through the courtesy of our company until permanent quarters
are rebuilt for the Clearing-House.
On May 23d the Clearing-House banks formally reopened for business.
The savings banks had originally intended to open on May 28th; several
of the banks which were ready, such as the Hibernia and the German,
opened on the 23d; the 'San Francisco Savings Union opened on May
28th
The San Francisco Savings Union would also have opened on
May 23d if it had been physically possible for them to have gotten
their office ready in time.
There was no excitement whatever on the day of the opening of either
the commercial or the savings banks. In almost every instance deposits
exceeded the withdrawals. Our deposits on May 31st were $1,300,000
more than on March 31st, and the same conditions seem to exist all
along the line.
Legal holidays were declared by the Governor of the State of California, beginning with April 18th and ending June 2d.
A special session
of the Legislature called by the Governor convened on June 2d for the
purpose of passing emergency and remedial measures.
Yours very truly,

ments were limited

JOHN

D.

McKEE,
Cashier.

—

P. S.
By the date of reopening, May 23d, most of the ClearingHo use banks had returned to their old offices which had been temporarily
refitted.
enclose list of Clearing-House banks with notations in
this regard.
The principal savings banks also reopened in their old quarters,
with the exception of the San Francisco Savings Union, whose building
and office were entirely destroyed. The Savings Union opened on the
corner of California and Montgomery streets, one-half block east of their
old office.

We

[Vol. L.XXXIL

denatured under governmental supervision, and any person who uses
alcohol withdrawn from bond under the provisions of Section 1 of this
Act for manufacturing any beverage or liqiud medicinal preparation made
in whole or in part from such alcohol, or knowingly violates any of the
provisions of this Act, or who shall recover or attempt to recover by redistillation or by any other jirocess or means any alcohol rendered unfit
for beverage or liquid medicinal purposes under the provisions of this Ac>.
or who knowingly uses, sells, conceals or otherwi.se disposes of alcohat^o
recovered or redistilled, shall on conviction of each ofTense be fined not
more than $5,000 or be imprisoned not more than five years, or both,
and shall, in addition, forfeit to the United States all personal property
used in connection with his business, together with the buildings and lots
or parcels of ground constituting the premises on which said unlawful
acts are performed or permitted to be performed; Provided, that manufacturers employing processes in which alcohol, used free of tax under the
provisions of this Act, is expressed or evaporated from the articles manufactured shall be permitted to recover such alcohol and to have such
alcohol restored to a condition suitable solely for re-use in manufacturing
processes under such regulations as the Commissioner of Internal Revenue,
with the approval of the Secretary of the Treasury, .shall prescribe.
Sec. 3.
That for the employment of such additional force of chemists,
internal revenue agents, inspectors, deputy collectors, clerks, laborers
and other assistants, as the Commissioner of Internal Revenue, with the
approval of the Secretary of the Treasury, may deem proper and necessary to the prompt and efficient operation and enforcement of this law,
and for the purchase of locks, seals, weighing beams, gauging instruments and for all necessary expenses incident to the proper execution
of this law, the sum of $250,000, or so much thereof as may be required,
is hereby appropriated out of any money in the treasury not otherwise
appropriated, said appropriation to be immediately available.

ITEMS ABOUT BANKS, BANKERS AND TRUST

CO.'S

— The sales of bank stock at the Stock Exchange this week
The privilege of .subscribing for
aggregate 123 share.
60 shares of stock of the Franklin Trust Co. at $300
per share was .sold at auction for $1,600.
The last public
sale of the stock, which is to be increased from $1,000,000
to $1,500,000, was made in November 1905 at 359 1^.
No
sales of bank or trust company stocks were made at auction.

BANKS New York. Low. High. Close.
xl03 Commerce, Nat. Bank of 185
185M 185
Fourth National Bank
X 20
216^ 216?i 216M

Shares.

Last previous sale.

May 1906— 185J4
May 1906— 217

X Sold at the Stock Exchange.

—

The United States Senate on Thursday passed the bill
empowering national banks to loan to the extent of 10% of
capital and surplus combined, instead of to 10% of capital
alone, as is now permitted.
The bill had previously (in
April) passed the House, and as passed by that body contained the proviso that no loan should exceed 20% of the
capital stock.
This provision was stricken out by the
Senate Committee, but restored in an amended form by the
Senate in other words, the extent to which the banks may
loan has been increased from 20 to 30% of capital.
The bill
will now return to the House for concurrence.

—

— In an opinion rendered on the 8th

inst.. Judge HamersSupreme Court of Connecticut decides that the
Connecticut Savings Bank Tax Bill reducing the amount
from 1^ of 1% to 3-16 of 1% never became a law, not having
passed both houses of the Legislature "within the meaning
The bill was introduced
of the Constitutional provision."
It was rejected by the House, but later passed
last year.
by the Senate. The House finally concurred in the action

ley of the

which Mr. McKee furnishes shows that all but four
House banks are using their old offices, temporarily refitted.
The exceptions are the San Francisco
National Bank, which is located in the Merchants' Exchange,
two blocks from its old quarters; the Wells, Fargo-Nevada
National Bank, now in the Union Trust Co. Building, three
blocks south of its old offices; the International Banking
of the Senate, but subsequently resolved to reconsider its
Corporation, occupying temporary offices in the Western
action.
In the meantime, however, the bill had gone to
Addition, corner of Fillmore and Sutter streets, and the
Before it could be recalled it had been
the Governor.
Italian-American Bank, in the Merchants' Exchange, a
signed by the Governor, who, upon learning the facts,
block and a half from its old location.
scratched off his signature.
Judge Hamersley in his opinion
says that the fact that the Governor actually wrote his approval on the bill is immaterial unless at the time of his
THE FREE ALCOHOL BILL.
doing this the bill had "passed both houses." It is clear
The following is the text of the bill which has just become
from the record, he states, that directly after the passage
a law freeing alcohol from the internal revenue tax where
of a vote concurring with the Senate in passing the bill and
used in the arts and industries or for fuel, light or power:
while the bill was in the possession of the House and on the
Be it enacted, &c., That from and after January 1 1907 domestic alcohol of such degree of proof as may be prescribed by the Commissioner of desk of its Speaker, the House had entertained a motion to
Internal Revenue, and approved by the Secretary of the Treasury, may reconsider its action, and that at the time the Governor
be withdrawn from bond without the payment of internal revenue tax,
wrote his approval on the bill this motion was, by its order,
for use in the arts and industries and for fuel, light and power, provided
said alcohol shall have been mixed in the presence and under the direction of an authorized Government officer, after withdrawal from the dis- pending in the House, and its final action on the bill was

The

list

of the Clearing

warehouse, with methyl alcohol or other denaturing material or
materials, or admixture of the same, suitable to the use for which the
alcohol is withdrawn, but which destroys its character as a beverage
and renders it unfit for liquid medicinal purposes; such denaturing to be
done, upon the application of any registered distillery, in a denaturing
bonded warehouse specially designed or set apart for denaturing purposes
only and under conditions prescribed by the Commissioner of Internal
Revenue, with the approval of the Secretary of the Treasury.
The character and quantity of the said denaturing material and the
conditions upon which said alcohol may be withdrawn free of tax shall
be prescribed by the Commissioner of Internal Revenue, who shall,
with the approval of the Secretarj' of the Treasury, make all necessary
regulations for carrying into effect the provisions of tins Act.
Distillers, manufacturers, dealers and all other persons furnishing,
handling or using alcohol withdrawn from bond under the provisions of
this Act shall keep such books and records, execute such bonds and render such returns as the Commissioner of Internal Revenue, with the approval of the Secretary of the Treasury, may by regulation require.
Such books and records shall be open at all times to the inspection of
any internal revenue officer or agent.
Sec. 2.
That any person who withdraws alcohol free of tax under the
provisions of this Act and regulations made in pursuance thereof, and
who removes or conceals same, nr is concerned in removing, depositing
or concealing same, for the purpose of preventing the same from being
tillery

suspended.

—

Manager Charles A. Ruggles of the Boston Clearing
House announces that Monday next, the 18th inst. (Bunker
Hill

Day),

will not, as in

former years, be observed as a

bank holiday, the banks and Clearing House opening for
business as usual.
The Stock Exchange also will be open
for business on that day.
To accommodate the increased needs of its New York
City business, the Franklin Trust Company to-day announces
the removal of its Manhattan office from the basement to the
George H. Southard is Presifirst story of 140 Broadway.
dent of the company.
A dividend of $25 per share was declared on the 15th

—

—

inst. in

favor of the stockholders of the old National Citizens^

June

THE CHRONICLE.

16 1906.]

Bank of this city of record March 12 1904. When the consolidation was entered into at that time between the National
Citizens' and Central National banks (under the name of
the Citizens' Central National Bank), it was arranged that
the bank whose assets upon liquidation produced the larger
surplus should be allowed to distribute among its stockholders
all assets in excess of the surplus represented by the assets
of the other bank.
The liquidation of the assets of the Central National has been completed at $118 per share, while the
liquidation of the National Citizens' Bank, which has not
yet been completed, shows a surplus above $118 per share.

1355

was unanimously approved by the stockholders on the 9th
The additional capital will be issued and paid for on
inst.
July 2. The selling price is $130 per share of $100.

— A 5% dividend

is

being distributed to the depositors of

Bank of Buffalo, making in all a total of
90% paid since the bank closed in June 1901.
The City Trust Company of Boston, having acquired
the stock of the Mercantile Trust Company of that city
(capital $500,000), has liquidated the institution.
The
the City National

—

price paid for the latter 's shares (par $100)

was $200 each.
bought control of the Beacon
The semi-annual dividend of the Jefferson Bank of this Trust Company at about $185 per share; they, however,
city has been increased to 4%, payable July 2, as against continued as separate institutions.
All the officers and em2/^% paid each semi-annual period since January 1904.
ployees of the Mercantile have been engaged by the City
Lewis E. Pierson, President of the New York National Trust Company, except the President, Charles A. Price, who
Exchange Bank of this city, delivered an extended address is now President of the Beacon Trust Company. Another
on "Bills of Lading as Collateral" before the convention of institution which has recently passed to the control of the
the Virginia Bankers' Association, held on the 14th and 15th City Trust is the Winthrop National Bank of Boston.
The
The remarks of L. P. Hillyer, bank has a capital of $300,000, and for its $100 shares, it is
inst. at Old Point Comfort.
Vice-President and Cashier of the American National Bank understood, $325 was paid. Its business, it is stated, will
of Macon, Ga., on "Dishonesty and Punishment Therefor," continue as at present.
At a special meeting to be held on
were also a feature of the meeting.
the 19th inst. the stockholders of the City Trust Company
The plan announced in our issue of May 26 for the re- are to vote on the proposition to increase the capital from
duction of the capital of the Bowling Green Trust Company $1,000,000 to $1,500,000. The company several months
of this city from $2,500,000 to $1,000,000 was ratified by ago acquired, and now operates as a branch, the Bunker
the stockholders on Wednesday, the 13th inst. The ar- Hill National Bank of Boston (Charlestown).
rangement provides for the distribution to the stockholders
William A. Russell, a director of the City Trust Comof 60% of the par value of their stock in cash and 40% in pany of Boston, died on the 7th inst.
Mr. Russell was also
new stock.
a director of the International Paper Company, the United
A quarterly dividend of 3% has been declared by the Box Board & Paper Company, the Minneapolis General
He was a
Equitable Trust Company of this city, payable June 30. Electric Co. and several other corporations.
This raises the amount from 2^%, which has been paid son of the late ex-Governor William E. Russell, and was

—

The Mercantile had only

lately

—

—

—

—

in his thirty-third year.

quarterly since 1904,

—

—John C.

Charles F. Allen, formerly Assistant Secretary of the
Burns has been appointed Assistant Secretary
Stock Exchange to succeed Charles L. State Street Trust Company of Boston, has been chosen
Burnham, who resigned on the 1st inst. to engage in the Secretary of the company, succeeding Allan Forbes, who
was lately elected Actuary.
brokerage business.
The Connecticut Savings Bank Association at its annual
Chauncey Keep, a partner and one of the executors of
the estate of the late Marshall Field of Chicago, has been session in Meriden this week adopted a resolution favoring
elected a trustee of the United States Trust Company of this the passage of a general State banking law for banks and
trust companies under which such institutions shall be orcity to fill the vacancy caused by Mr. Field's death.
of the

New York

—

—

— The

Union Trust Company of this city (80 Broadway) ganized, thus preventing the granting of a variety of charters
by the Legislature. The association also adopted a resoluwill open an uptown branch in the early fall at the northeast
tion approving the action of the American Bankers' Assocorner of Fifth Avenue and Thirty-eighth Street.
ciation in its efforts to secure "the enactment of a bill referCornelius D. Wood, a Vice-President of the Union Trust
ring to inter-State shipments which shall effectively protect
Company of this city, died on the 10th inst. at the age of the holders of order bills of lading
issued by transportation
Mr. Wood was at one time a member
seventy-three years.

—

& Co. Subsequently
Wood & Davis. Although

of the firm of Vermilye

he organized
he continued

the banking firm of
as Vice-President of the Union Trust Company until his
death, he had not in recent years been active in business
He was a
affairs, devoting himself to philanthropic work.
director of the Brooklyn Trust Company, the Manhattan
Life Insurance Company and the Northern Assurance Company of London.
The Fifth Avenue Bank of this city on the 7th inst.
declared a regular dividend of 25% on the capital and a
Both will be payable July 1st.
special dividend of 100%.
Transfer books will be closed from June 23rd until July 1st.

—

—
this

—The

vacancy in the vice-presidency and cashiership of
Bank of Waterbury, Conn., due to
the death of F. L. Curtiss, has been filled by the election
of J. H. Bronson as Vice-President and H. A. Hoadley as
the Citizens' National

Cashier.

— A new trust company
delphia under the

name

is

about to be launched in Phila-

of the Aldine Trust

Company.

It

have a capital of $200,000 and a surplus of $120,000.
The new institution has purchased and will occupy the twostory banking building at 2022-2024 Chestnut Street.
The
incorporators are Webster King Wetherill, Caleb Cresson Jr.,
Charles F. De Costa, Arthur G. Dickson, George W. RoydThe semi-annual dividend of the Colonial Trust Co. of
house, formerly President of the Girard Avenue Title «fe
city declared this week, payable July 2, has been inTrust Company, and D. B. Wentz.

creased to 6%, or at the rate of 12% per annum.
cent per annum has been paid heretofore.

—

Ten per

The proposition to merge the Dealers' Bank of Brooklyn
Borough into the Union Bank of Brooklyn will be acted
upon by the stockholders of the two institutions at meetings
The Dealers' Bank commenced
to be held on the 22d inst.
bu.siness in February and has a capital of $100,000.
The
Union Bank formally took over the Market Branch of the
People's Trust Company on the 7th inst.

—

companies."

is

to

—

The Pennsylvania State Commissioner of Banking has
appointed Thomas J. Ford as receiver of the Columbia
Savings & Trust Company of Pittsburgh. Since its suspension on May 9 the institution has been in charge of State
Bank Examiner Peter G. Cameron.

—

The stockholders of the Treasury Trust Company of
Pittsburgh voted favorably in the matter of increasing the
capital from $250,000 to $350,000, at their meeting on the
6th inst. The additional stock is to be issued for the purpose of taking over the Traders' <fe Mechanics' Bank of Pitts-

The Bank of Hempstead Harbor commenced business
on Monday at Roslyn, N. Y. The institution has a combined capital and .surplus of $60,000, and is under the man- burgh (capital $100,000) in which controlling interest was
agement of Benjamin D. Hicks, President; Frederick C. secured in March by President James E. Glass of the Treasury
Hicks and Jo.seph H. Bogart, Vice-Presidents, and William Trust Company.
The stockholders of the First National Bank of NorPost, Cashier.
The proposal to increase the capital of the First Na- wood, Ohio, on the 6th inst approved the recommendation
tional Bank of Albany N. Y., from $200,000 to $300,000 of the directors to increase the capital from $100,000 to

—

—

[Vol. Lixtn.
THE CHRONICLE.
— "The Independence of the South" was made the subject
amendment to

1356

$200,000. They also ratified the proposed
the articles of association increasing the board from nine
to twelve members, and elected as new directors Cashier
Thomas McEvilley, H. H. Suydam and W. F. Robertson.
One-half of the new capital ($50,000) is offered to existing
stockholders at par ($100) until July 2. The remainder
of the issue will be disposed of to new interests at not less
than $140 per share, and the premium thus to be received
will be added to surplus and undivided profits.

— The incorporators of the new Citizens' National Bank of
Hamilton, Ohio, have decided to operate the bank as a
State institution, and have recalled the papers forwarded
to the Comptroller for organization under the Federal law.
The concern will be known as the Citizens' Savings Bank &
Trust Company.

—

The Security Trust Company, the new Detroit concern
whose board is made up principally of representative bankers of that city, is to begin business about July 1 in the

Campau

Building, at 71-73 Griswold Street.

The

institu-

of an address

Trust

by Festus

Company

J.

Wade, President

of the Mercantile

of St. Louis, at the convention of the Ten-

Bankers' Association, held at Lookout Mountain,
Chattanooga, on June 6 and 7. Mr. Wade referred to the
growth of the Southern financial institutions and to the industrial and commercial development generally of that section of the country.
Robert J. Lowry, President of the
Lowry National Bank of Atlanta, was also a speaker at the
meeting, his remarks being on "Some Suggestions for the
Improvement of the Conditions of the Country." J. W.
Keys, Vice-President of the Tennessee Trust Company of
Memphis, spoke on "Bank Audits"; Judge Jerome Templeton of Knoxville discussed "Bills of Lading," and R. M.
Chambliss, Cashier of the First National Bank of Brownsville, Tenn., delivered an address on "Bank Taxation in
Tennessee." The new President of the association is Thomas
R. Preston, President of the Hamilton National Bank of
Chattanooga.
nessee

—The

tion has a capital and surplus of $1,000,000.
As stated in
these columns May 5, M. J. Murphy is President, and Emory

Va.,

W.

capital of the Norfolk National

Bank

of Norfolk,

special

Clark and Lem W. Bowen are the Vice-Presidents.
Frederic F. Sanford has resigned as Assistant Secretary of
the Citizens' Savings & Trust Company of Cleveland to
take the oflSce of Secretary of the Security Trust, which
had been temporarily filled by George E. Lawson.

—

John A. Butler has resigned as Secretary of the Indiana
Trust Company of Indianapolis to become Vice-President
and Treasurer of the Farmers' Trust Company of Indianapolis.

— Arrangements are being perfected for the consolidation
Wayne (Ind.) Trust Company and the Tri State
Loan & Trust Company of Fort Wayne. The union, we are

is

to be increased

from $400,000 to $1,000,000, and a

meeting of the stockholders to authorize the step
be held at an early date. The Norfolk "Virginian"
states that $300,000 of the new capital will be apportioned
among the present shareholders at par ($100) as a stock
dividend, and the other $300,000 will be sold to interests
not now connected with the institution at $175 per share.
will

The bank on April 6 showed combined surplus and profits
$493,706— $200,000 representing the surplus. Caldwell
Hardy is the President; C. W. Grandy, Vice-President;
A. B. Schwarzkopf, Cashier, and W. A. Godwin, Assistant
of

Cashier.

of the Fort

IMPORTS AND EXPORTS FOR MAY.

expected to be consummated within the next two
The Bureau of Statistics at Washington has issued the
weeks. The Fort Wayne Trust has a capital of $200,000; statement of the country's foreign trade for May, and from
the Tri State Loan & Trust has an authorized capital of it and from previous statements we have prepared the following interesting summaries:
$300,000, with $150,000 paid in. Charles A. Wilding is
FOREIGN TRADE MOVEMENT OF THE UNITED STATES.
President of the latter.
(In the following tables three ciphers (000) are in all cases omitted.)
advised,

—The

is

Bankers' Association has selected September 25 and 26 as the dates for its annual convention, which is
Frank P. Judson, Cashier of the
to be held at Springfield.
Bankers' National Bank of Chicago, is Secretary of the assoIllinois

ciation.

—

The Commercial National Bank of Chicago proposes to
add $1,000,000 to its capital, increasing it from $2,000,000

-1905-06—
Exports.
Merchandise. $
July-Sept 361,583
Oct.-Dec. 524,439
Jan.-Mch 457,880
April ... 144.462
May ... 130,549

Excess.
$

282,332
306,871
324,352
107,319
104,948

-1-79,251

Exports.
S
311,743

+ 217,568
+ 133,528
+ 37,143
+ 25,601

465,850
367,446
128,575
123,794

Total.] ,618,913 1,125,822
Gold and Gold in Ore.
July-Sept
13,730
2,846
Oct.-Dec.
4,117
19,954
Jan.-Mch
20,147
10,316
April
2,485
14,942
6,717
33,950
m.y ...

In order to permit of the placing of the additional stock with new interests, the present stockholders
have been asked to waive their rights to subscribe to the issue.
The stock is to be sold at $300 per share of $100. Besides
Total.
35,312
92,892
Silver and Silver in Ore.
a surplus of $1,000,000, the bank has (April 6) undivided
July-Sept
14,361
9,334
profits of $873,388.
Its deposits on the date mentioned were Oct-Dec.
18,070
11,431
12,677
Jan.-Mch
19,166
$38,467,887 and its total resources $43,241,275.
April
4,214
2,834
to $3,000,000.

—The United States Mortgage Banking Company of Chi-

cago was recently chartered in Delaware, with a capital of
The institution is vested with the authorities
and powers of a trust company. Emil Dorn of Chicago is
one of the incorporators.
$1,000,000.

—The annual meeting of the Minnesota Bankers' Associa-

+ 493,091

Total.

Imports

Excess.
S

S

243,057
284,515
311,858
95,110
92 526

1,397,408 1,027,066

—10.884
—15,837

+ 68,686
+ 181,335
+ 55,588
+ 33,465
+ 31.268
+ 370,342
—6,340

—12,457
—28,233

14,591
38,172
34,015
1,304
481

20,931
16,108
9.223
2.581
2,657

—57,580

88,563

51,500

+ 37,063

12,762
11,005
12,593
2.318
6,426

5.902
6.410
6,515
2,560
3,742

+ 6,860
+ 4,595
+ 6.078
—242

44,104

25,129

+ 18,975

+ 9,831

5,544

May

+

-1904-05-

Imports.
$

4,371

+ 5,027
+ 6,639
+ 6,489
+ 1,380
+ 1,173

61,355

40,647

+ 20,708

+ 22,064
+ 24,792
—1,277
—2,176

-r

1,684

Excess of imports.

Excess of, exports.

We subjoin the totals for merchandise, gold and silver for
the eleven months since July 1 for six years:
Merchandise.

Gold.

Silver.

week on Wednesday and Thursday at
Excess
Excess
Excess
Eleven
ExImExImLake Minnetonka. At Wednesday's session there is to be a Months. ExImExports ports. ports. Exports ports, ports. Exports
ports.
ports.
debate between the Minneapolis and St. Paul chapters of
S
$
t
$
t
$
s
$
the American Institute of Bank Clerks. Aside from this 1905-06 1.618,913 1,125,822493.091 35.312 92.892 OS7.580 61,355 40.647 20,708
1904-05 1,397,408 1,027,066 370,342 88,563 51.500 37.063 44,104 25,129 18,975
feature, almost the entire day will be given over to routine 1903-04 1,367,602 909,930 457,672 79,938 94,169 al4.232 45,062 25,016 20,046
1902-03)1,324,918 943,719381,199 34,583 42.214 07.631 42.694 22.113 20,581
242 46,4821 26.429 20.053
Addresses will be delivered on the following day 1901-02,1,292,479 830,206 462,273 48.177 47,935!
business.
1900-01 1.384.991 754.768j630.223l 47.840 62.790 a 14.960 59.716 34.4521 25,264
by M. J. Dowling, President of the Olivia State Bank of
a Excess ot Imports.
Olivia, Minn., and Hiram S. Scriver, President of the St.
Similar totals for the five months since January 1 for six
Anthony FaUs Bank, at St. Anthony Falls, Minn. George
following exhibit:
H. Prince, Vice-President of the Merchants' National Bank years make the
of St. Paul, is Treasurer of the association.
The Secretary
Silver.
Gold.
Merchandise.
tion

is

is

to be held next

Joseph

Bank

Chapman

Jr.,

Cashier of the Northwestern National

— The directors of the Mississippi
of St. Louis this

of their board.

Company
member
Mr. Smith, who succeeds Harrison I. Drumis Vice-President of the Simmons Hardware
week

mond, resigned,
Company. He was

elected

Im-

Ex-

Valley Trust

James E. Smith

identified with the

as a

management

of the

Exposition at St. Louis, having been one of the directors of
the Fair, Chairman of the Committee on Electricity and a
member of the Fine Arts Committee.

I

I

of

Ex-

ports. [Exports ports.

ports.

Excess

Excess

Excess

Five

Months

of Minneapolis.

Imports

of

Ex-

Exports ports

Imports.

Exports

S
S
i
$
S
$
S
$
$
9,042
732,891536,619 196,272! 28,349 59.208030,859 28.924 19,882
7.520
619,815 499,495 120,320 35,800 14,461 21,339 20,337 12,817
'580,501427,180,153,321 66,926 42,877 24,049 21,957 1 1 .023 10.934
7.930 8.019
7.620 15.949
1602,429 430,745 171,684 18,828 11.208
8,860
9.101 10.784 19.278 10,418
1548,9561383,227, 165.729 19.885
'619.079 365,037 254.042 24,146 12.666 11,480 23,865 13.201 10,664
'

1906.
1905
1904
1903
1902
1901

a Excess ot Imports.

In these tables of totals, gold and silver in ore for all the
years are given under the heads respectively of gold and
silver.

I

—

—
June

.

THE CHRONICLE.

16 1906,]

The following shows the merchandise balance
back to 1875:

for each

year

EXCESS OF MERCHANDISE IMPORTS OR EXPORTS.
5 months ending May 31
May 31

11 months ending

1875
1876
1877
1878
1879
1880
1881
1882
1883
1884

1885
1886
1887-.
1888
1889
1890...
1891
1892
1893
1894
1895
1896
1897..
1898
1899
1900
1901

1902
1903
1904
1905
1906

..Imports. $14, 418, 184
Exports. 67,538,994
Exports. 155,877,779
Exports. 246,585,624
Exports. 258, 457, 036
Exports -156,066,174
..Exports. 255, 183 .248
Exports- 37,514.366
Exports. Ill, 099 ,099
Exports. 71,638,658
Exports. 165, 492, 058
Exports. 42,393,388
Exports. 37,137,959
Imports. 9,709,071
Exports. 10,211.343
Exports. 90,841,867
..Exports. 55,432,105
Exports. 210.003.917
Imports. 14,487,753
ExportS-237,908,515
Exports. 82,262,414
...Exports. 92,340,133
..Exports. 298, 253, 131
Exports. 571 ,719,184
Exports. 495,237.895
Exports. 496 .891 ,308
Exports. 630,223 ,220
Exports -462, 273 ,024
Exports. 381 ,199,373
Exports. 457, 672,269
Exports. 370,342,354
Exports. 493 ,09 1,1 68

1875
1876
1877
1878
1879
1880
1881
1882- 1 883
1884
1885
1886
1887
1888
1889
1890
1891.
1892.
1893
1894
1895
1896
1897
] 898
18991 900
1901
1902
1903...
1904
1905
1906

Imports. $16,650,671
Exports. 37,959,296
Exports. 42,622,098
..ExportS-144,625.925
Exports -108 .831 ,981
Exports- 19.545.753
Exports- 93.470,496
--Imports- 27,825,347
Exports . 56 ,523 ,630
Exports- 9,578,577
Exports- 56,143,325
Imports. 2,674,044
Imports- 13,815,613
Imports- 43,281,764
Imports- 17,713,636
Exports- 3,602,229
.Exports- 2,605,920
.Exports. 54,553,643
Imports- 64,552,046
Exports- 60,402.775
Exports.
1,959,179
Exports. 64,414,309
Exports. 48,951,866
ExportS-251 ,567,267
-.ExportS-169,936,836
Exports - 224 ,964 ,501
ExportS-254,041,916
Exports. 165.728,592
Exports. 171 ,684,331
Exports- 153 .320,913
Exports- 120,321 ,348
Exports. 196,272 ,512

1357

over the world, it is felt that the present scarcity of money
will not last very long.
Indeed, it is reasonable to believe
that there would be an immediate recovery if New York
led the way, and if, moreover, something were done to give
assurance that abundance of labor would be forthcoming

South Africa.
Meanwhile, trade continues to improve in

for

all the manuEven in London and the South of Engmore employment than there was and

facturing districts.
land there is much

decidedly better.
In the manufacturing disexceedingly great activity, which, according
the indications at present, is likely to continue for

business

is

tricts there is

to all

one of the reasons why
of the manufacturing districts is abnormally large.
Furthermore, the process of placing the Russian and the Pennsylvania loans in
Paris is not yet completed, and consequently the French
banks, though they have decidedly increased their balances
in London and are large takers of bills, yet they have not
increased these balances as much as they were expected to
do and as in all likelihood they will do as soon as the loan&
recently brought out are placed.

some years.

money

is

That, no doubt,

is

scarce in London, as the

Money, as already

demand

continues in strong demand.
is increased by the Stock
Exchange settlement and by the usual requirements of the
end of the month. Furthermore, the market has been some-what disturbed this week by the payment of an instalment
of the last Japanese loan amounting to 25%, or, roughly,
about a million and three-quarters sterling. The money|is
received immediately by the issuing banks and is then paid
over tOjthe Bank of England, the result being that the Bank
of England's control over the outside market is increased'
and the supply in the open market materially reduced. It
is possible, of course, that the Japanese Government may
take measures to give relief to the market. But on that
point nothing is yet known for certain.
The Japanese
Government always shows the greatest consideration in such
cases and nobody doubts that something will be done to
prevent the money being locked up in the Bank of England.
Next week, therefore, as there will be neither a Stock Exchange settlement, nor the requirements of the end of the
month, nor the payment of a Japanese instalment, it is
probable that the market will be better supplied, and that
But it does not look as if
rates will be somewhat easier.
they would be very easy until at least the French banks are
relieved of all anxiety respecting the internal condition o£
Russia, and until, moreover, here in London a better estimate can be formed of the probable consequences to the
money market of the San Francisco disaster.
The India Council offered for tender on Wednesday 40'
lacs of drafts and the applications exceeded 374 lacs, at
prices ranging from Is. 3 31-32d. to Is. 4 l-16d. per rupee.
Applicants for bills at Is. 4d. and for telegraphic transfers
at is. 4 l-32d. per rupee were allotted about 11% of the
amounts applied for.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, &c.,
compared with the last four years:
said,

For the moment, the demand

^onttvivvd (f^ommtxcinX%nQlish^txos
*^A^M^Ai^^^^S^^^>WV\i^V%<%'

[From our own Correspondent.]

London, Friday, June 1 1906.
Stock markets, if possible, have been more lief less this
week than last. The last settlement of the month has been
going on, winding up the longest account on record, it
Business has been
stretching, in fact, over twenty days.
inactive during the period, and the account to be settled,
therefore, is not so large as it might otherwise have been.
Still it is a protracted and a tedious settlement and has
taken up a good deal of the attention of members of the
Stock Exchange. In addition to this, the Epsom Races,
which are great favorites in London, have been in progress,
and have taken away most of the large operators and many
members of the Stock Exchange. Then, again, the Stock
Exchange will be closed both on Saturday and on Monday
on account of the Whitsuntide holidays; and the holiday in
New York in the middle of the week likewisehad its effect
in checking business.
Beyond this, money is scarce and in strong demand,
while all the Continental bourses are almost as inactive as
London itself. Probably the attitude taken up by the new
RussianJGovernment in regard to the Duma has a great
deal to do with the present unwillingness to engage in new
ventures.
The general impression amongst those best in
a position to judge is that the Czar is intent upon keeping
his promises to his people and that when he sees that the
Duma is backed up by the whole Russian people he will
dismiss the presentJMinisters and call to his councils advisers

be more likely to get on with the Duma. Neververy general fear that there may be a
deadlock which may bring about a renewal of the disturbConsidering what immense amounts of Russian seances.

who

will

1906.
30.

1905.
31.

1904.

May

May

June

£

theless, there is a

£

£

1.

1903.

June 3

£

1902.

June

£

4.

28.945.645 29.500,280 28.707,570 29.301,635 29.522.155
10.047.867
11.608,528
8.401,211
7.425.683
8.692.675
42.678.571 41.613.526 40,241,442 41,276.091 40,446,672
Governmt securities 15.977.281 15.749.522 16,603,406 14.799.505 14.293.385
Other securities
31,483,251 28,415.791 27,238.039 27,508,544 28.130,038
Reserve of
notes
and coin...
23,176.677 26.836.126 22.689.831 24.224,719 24.803.701
Coln&bull..bothdep 33.672,322 37,886,406 32.847,401 35.351.404 36,550.856
Prop, reserve to liabilities
50 5-16
46 5-16
P.O.
4314
fiOH
495^
Bank rate
p.c.
4
3
3K
3
9?t|
ConEoU, 2H p. c...
90!^j;d
89 11-16
9lHxd 96 5-16
31d.
Silver
26 13-16d
24 l-16d.
25'/Sd.
24Hd.
Clear.-house returns 201,975,000 246,087.000 247.297,000 209.039,000 203.120,000

Circulation
Public deposits
Other deposits

more particularly by France, Germany and
Holland, it is not surprising that there should be very great
nervousness, and that while there seems no danger of further
revolutionary movements, both investors and speculators
should be very timid.
In Germany, again, there is the
further apprehension that if a breach occurs between the
The rates forjmoney have been as follows:
Government and the Duma, there may be a rising in Poland
June 1.
May 25.
May 18.
Mayll.
Bank of England rate
4
4
4
4
which would cause a state of things on the German frontiers Open Market rates —
Bank bills — 3 months
3 7-16
3K
Moreover,
that might lead to the gravest consequences.
^4 months
1^- 16
3 7-16
3 7-16
— 6 months
3'A
3j|
3H 3 7-16
there is still a vast quantity of goods in Germany which
3»4( N
4
Trade bills— 3 months
4
3}i
3^
—
4
3H
3Ji
4>i
were imported just before the new commercial treaties came Interest allowed 4 months — 354 M
lor deposits
By Joint-stock banks
.
2H
2H
2H^
2H
into force and which is being carried upon borrowed money.
By discount houses:
3
3
At call
3
3
In consequence, money is still scarce and dear and probably
7 to 14 days
3X
3>i
3>i
3H
will continue so all through the year.
Nevertheless, there is
The Bank rates of discount and open market rates at the
everywhere a hopeful feeling. The impression is strong that chief Continental cities have been as follows:
May 26.
May 19.
May 12.
Jutic 2.
the present stagnation is very temporary and that before
Bank Open
Bank Open
Bank Open
Bank Open
Rates of
long we shall see an increase in activity.
Rate. Market. Rate. Market. Rate. Market. Rale. Market.
Interest atParis
3
fc„Werc it not for the internal condition of Russia, there Berlin
4
Hamburg
4
danger of a disturbance of the peace anywhere. Frankfort
would be no
4
Amsterdam
4
Therefore, while international politics continue smootli, Hrus-sels
3
Vienna
4
there will be a tendency towards improvement on the Stock St, Petersburg
7
curities are held,

(

Exchange.

And

as the production of gold

is

increasing

Madrid
all

Copenhagen

4

..

.

IbM^iM

THE CHRONICLE.

1358
&

Pixley

Mrssrs.

May

Abell write as follows under date of

31:

OOI.l). -The
supplK-H of KoUl.

Hunk has aRaln boon

KU(ces.sfiil In obtaining nearly all the free
b<niKht about jESOO.OOO out of thw week's arrivals.
Next
expeeled from South Africa, and about £ 200 000 from Kaypt.
Since our Inst the Hank lia.s received £0X0 000. mostly in bars, while £103 000 has
been withdrawn, chiefly for South America. Arrivals South Africa £bl2 000;
West Africa. £53.0(M): Australia. £185.000: Bombay. £2 000: Straits £2'(KK):
total. £1.1.')4.000.
Shipments— Hombay. £33.000; Calcutta, £15 000;' Madras,
£3.725: total. £51.725.
SIKVKR. 'ITie market reacted durinii the week to 31d. on some proflt-takInK
.sales, and with India a less active buyer: but we are higher again to-day on Eastern

week £193.000

The imports and exports of gold and
months have been as follows:

buylngnt 31Kd.. and the market

hrm.

clo.ses

Forward

%(\. under

Is

ciish

at30?^d

The Indian price Is Hs 70 per 100 tolahs. Arrivals— New York £392 000.
ments-Bombay. £195.000: Madnis. £2.500; total, £197,500.

MKXU^AN nOLI.AKS are

Ship-

Imports.
1905-06.

Shipments— Bombay, £136,000.

s.

.

d.

d.

.v.

77 9
76 4

gold coin, oz._ 76 4
French gold coin. oz._ 76 4
Japanese yen. oz
76 4

\

77 9
76 4

76 4
76 4
76 4

gold coin, oz

German

I

London Standard
d.
Bar silver, fine oz...3m

d.

.

"

I

2mo. delivery

jCakc

oz,305<i

33N

silver, oz.

Mexican

nom.

dollars

315-16
30 15-16
33 13-16

ThiTty-ninc weeks.

1904-05.
70,617,200
17,908,900
10.553.900
1,024.719
1,270.040
31.842.200
8.749.720

Supplies available for consumption

on September

26,453.908
11.067.263
1,810.940
1.700.098
30.681.415
10.087.055

(exclusive of stock

98,083,182
lid.
30s.

98.560,952

94,477,659

5d.

30s.

26s.
27s.

9d.
2d.

27r.
25s.

8d.
9d.

Last week.
(3,885,000
170,000
\
860,000

1904-05.
3,030,000
140,000

720,000

1903-04.
4,115.000

185,000
465.000

—

London,

Mon.

Tues.
Wed.
29 13-16 29J^
30
Silver.peroz
88 15-16 8834
89
Consols new. 2M
Foraccovmt
S9V^
89>^
88%
89J4
French Rentes (in Far.). -Ir- 98.22H 98.27M 98.22H 98.25
Sat.
d- 30 1-16
per cents-- 89 1-16
\b.

Anaconda Mining Co
13%
Atchison Topeka & Santa Fe 93

6

Preferred

Baltimore

106
113
97

-

& Ohio

Preferred --

Canadian Pacific
164M
Chesapeake & Ohio -60%
20
Chicago Great Western
182%
Chicago Milw& St Paul
Denver* Rio Grande, com.. 47%
92

Preferred
Erie, common
First preferred
Second preferred.

47%
82%
73%

188%
Illinois Central
Louisville & Nashville
153%
Mexican Central
23%
Mo. Kan. & Tex., common-. 37
Preferred
71%
National RR. of Mexico
40%
N. Y.Central&Hud.RiV---145
N Y Ontario & Western--. 52%

Norfolk & Western,
Preferred
Northern Pacifica Pennsylvania
a Reading Co

common

92?|

106%
112%
97

164%

59%
19%

182
47
91

68%
39%

Southern Pacific
Southern Ry., common

Corp.,
Preferred

187

152%

23%
36

71%
40%
144
52%
90%

73%
46
49

26%
67%
39%

88

48%

47%

46%

92

46%

92
40

92

47%

82
73

81%
72%

82
73
187
154

22%
36U
71%
40
145
53
91
95

218%
69H
73%
47%

186%
152%

186
152

45%
81
71
185
152

71%

70%

23%
35%
70%

40

40

40

145

144

23%

23%

36

36

52%
91

51%
90%

95

95

217%

215%
68%

69

72%
47%
49%
26%
67%
39%

50
27

68%
39%

71%
47%
49%
26%
67%
38%

143%

50%
90%

95
213

68%
69
47%
49

25%
67%
38%
102

i.'^5%

102
1.54%

97

97

97

41%

41%
109

109

153%

40%

108%

21%

21

21

50

87%

50
87

49

88

to

New York

86

1905-06.

52.798,439
49,280,970 45.900.930
57,9.34,340 56.708.900
57,901,844 50.393.921
57,993,880 59.171.104
00.787,010 57,001,992
66.183.430 48,721,595
70.546.061 53,287,747
58.243. 120| 51,746,580
55.263.7311 52,512,865

April

May

announced

been

this

Books Closed.

'

Days

Inclusive.

Philadelphia & Erie, com
Pitts. Cin. Chic. & St. Louis, common..
Preferred
Southern Pacific Co., preferred (No. 4).

—

Southwestern of Georgia
Street Railways.
Cin.Lawrencebg & Aurora, pref. (quar.)
Consolidated Traction of New Jersey
Memphis Street Railway, preferred
Metropolitan Street Ry., X. Y'. (quar.)..

3

July

r=

June
Aug.

2%

July
July
July

1

July
July
July
July

4
2

1%
1%
1%
1%

2
2

1%
2
1%

2%

Aug.

;July

[June
July
July
July
July

June
July

June
June

1%
2%
3%
2%
1%
2
2%
1%
1%

Philadelphia Company, common (quar.)
75c.
Reading Traction
Twin City R. T., Minneap., pref. (quar.)
1%
S4 75
Union Passenger. Philadelphia
United Rys. Investment. San Fran. .pref. 2%6
West Philadelphia Passenger Railway.
S5

lAug.
July
July
July

July
July
July
July

Aug.
July
July
July
July
July

2: Holders of rec. June 21
9 June 1
to
June 10
1 Holders ol rec. July
5
1

liNot closed.
1
1
1

Holders of rec. June 30
1

Not

closed

20 Holders of rec. June 30
20 July 4
to
July 20
to
July 20
20, July
4
2

Holders o£ rec. June 12
to
July 16
July 16
to
to
June 26
to
July 16
30 Holders of rec. June 15
1 Holders of rec. June 11
30
30 Holders of rec. June 21
15|Holders of rec. Aug. 4
16!Holders of rec. July 6
2 Holders of rec. Jime 30
StJune 17
July 5
to
26!

16 June 26
16 June 26
2 June 16
16 July
1

1

1

15[June 27

to

16|june'26"""to
1 Holders of rec.
2 Holders of rec.
2 Holders of rec.
Holders of rec
to
June 26
Holders ol rec.
1

July 15
July 16
July 2

June 16
June 19
June 15
July

2

June 15

Banks.

4
4
6

Mechanics' National
Mercantile National

July

3

June

6%

—

7
4
5

Mutual

June 23
June 24
June 24

to
to
to
Holders of rec

July

June 14

July
July
July
July
July
July
July
July
July

3
25
100

July

to

Holders of

June 21
June 23

rec,

to
to

1

June 30
Jime 30
June 26
1

June 19
July
July

1
1

Trust Companies.
Colon! al

Equ

i

table (quar .)

Franklin (Brooklyn) (quar.)

3%

Guaranty (quar.)
Knickerbocker
Williamsburgh (Brooklyn) (quar.)

5

June

20
2

July
July

July

2 Holders of rec.
30 'June 24
to
to
2jJune 24
301 Holders of rec.
2!June 21
to
2 Holders of rec.
1

1

June 20
July
Julv

1
1

June 30
July

2

June 20

Miscellaneous.

Weber P. & Pianola, pf.
American Bank Note (quar.)
Aeolian

Extra
American Iron

& Steel Mfg.,

(quar.)

com. (quar.)

Preferred (quar.)

Canton Co

Central Coal & Coke, com. (quar.)
Preferred (quar .)
Crucible Steel, preferred (quar.)
Cumberland Tel.& Tel. (quar.) (No. 91).
Electric Boat, preferred (quar.)
Empire Steel & Iron, preferred
Mergenthaler Linotype (quar.)
National Sugar Refining, pref. (quar.)..
Otis Elevator, preferred (quar.) Railway Equip. Corp. (monthly) (No.97)

Company

Sloss-Sheffleld Steel

Standard Coupler,

- -

&

Iron. pref. (quar.)

common

Preferred
Y'.,

June
June
July
July
July
July

30i
15|

Holders of rec. Junel5a

15 Holders of rec. June 15a
2 Holders of rec. June 23
21

Holders of rec. June 23

16 Holders of rec. July 10
of rec. July 10

16' Holders
1%
June 27i--_
SI
1% July 16, Holders
1% July 16 Holders
1% June 28, June 18
2: June 24
1% July
2
July
2 June 21
1 June 21
1% July
2% June SOJune 17
2 June 21
1% July
1% July 16 Holders
1% June 15
2% July 16^July 1
2 June 19
1% July

1

June
June
June
June
Aug.

2

Aug

4

com

1%

Extra

Auction Sales.

1

2

Preferred
Tennessee Coal, Iron* RR., com. (quar.)
Preferred (quar .)
Texas & Pacific Coal (quar.)
Union Ferry (quar.)
United Bank Note Corp., pref. (quar.)..
United Fruit (quar.) (No. 28)
United Gas Improvement (quar.)
United Shoe Machinery, common (quar.)
Preferred (qiiar.)
United States Finishing, preferred (quar.)
Va -Carolina ("hem., pref. (quar.) (No. 43)
Western Union Tcleg. (quar.) (Xo. 151).
Westinghouse Air Brake (quar.)

a Transfer books not closed.

50c.
50c.
2

1%

Preferred (quar.)

American Type Founders, com. (quar.).

Securities

1% June

3

1% June
% July
1% July
1% July
2
2

1%
1%
2
1%
2%
2%

July
July
July
July
July
July
July
July

of rec.
of rec.
to

to
to
to
to
to

July
July
July
July
July

2
2
1

of rec.

June 30

to
to
to
to
to
to
to
to
to
to
to

July 16
July 2
July
July
July
July

30'june 26
June 26

June 21
June 21
July 11
July 11

June 21
June 21
June 17
Holders
14 Holders
Holders
Holders
June 24
June 29
June 21
July
1
1
July

June 30
June 30
June 28

of
of
of
of

rec.
rec,
rec.
rec.

to
to
to
to
to

Aug.
Aug.
July
July
July

June
June
June
June

2
2
30
30
20
20

July
1
July 18
July
1
July 9
July 9

6 Payable in scrip.

— Among other securities, the following, not

regularly dealt in at the Board, were recently sold at auction:
1905-06.

1904-05

$
40.185.484 35,656,730
48.845.390 ;j9,594.990

August
Septembei
October .

T^ehrnary.

Customs Receipts,
at New York.

Exports.

42.076.6,39

March

St. Louis, pref

185

51

July

November

&

Standard Gas L.. N.

Merehandise Movement

December.
January.

Minneapolis

N. Y'. New Haven & Hartford (quar.)..
Old Colony, guaranteed (quar.)
Pennsylvania Company

186

department, made up from weekly returns, wc give the
following figures for the full months, al.so issued by our New
York Custom House. The first statement covers the total
imports and exports of merchandise and the Customs receipts for the eleven months of the last two seasons:

1904-05.

Manhattan guaranteed (quar.) (No. 89).

Jefferson

FOREIGN TRADE "of NEW YORIO^^^^^SoNTHLY
STATEMENT.^In addition to the other tables given in this

1905-06.

--

Preferred

19

6 £ sterling.

Imports

.

59

42%
109%
21%

51

Delaware River RR & Bridge
Hocking \'alley, common

19

41%

88

& St. Louis

pref(quar.)
Cripple Creek Central, com. (qu.) (No.4)
Preferred (quar.) (No. 5)
Cumberland \ alley (quar.)
(jleve. Cin. Chic.

96%

97

51

Chicago& Westernlndiana (quar.)

164%

98

Debenture "Bs"

Allegheny & Western, guaranteed
Atlantic Coast Line Co. (quar.)
Bald Eagle \alley
Baltimore & Annapolis Short Line
Belt Railway of Chicago (quar.)
Boston & Providence, guaranteed (quar.)
Canada Southern

59%

19%
186%

have

Railroads (Steam).

96%

154%

Preferred

dividends

164%

96%

l.'^0%

109

The following

60

60%
19%

102

21%

Month.

1

week:

165

96%

102

22

a Price per .share.

4,781.452. 46.250,133

DIVIDENDS.

165%

103

common.. 42%
109%

Wabash

75,138.056
1

Butchers' & Drovers', National
Fifth Avenue (quar.)
Special
First National, New York (quar.)
German Exchange National

155%

common

7.663,536J
1

118%

97

Pacific,

Preferred

10. 163.6651

93
106

93M

102

Preferred

54,377.135

Total...

113^

13K

92

95

50
27

1.151.489
267.609]

3.3.33.176

106

13%

48

46%
81%
72%

216%
68%

.47%

29.465,503

Thurs. Fri.
29 11-10 295-8
88 13-10 88 11-16
88 15-16 88 13-16
98.27J^ 98.27M
13K
135^
92%
92}^
106
105%
11634
115%

185

95

Rock Island Co

L'. S. Steel

13 Ji

217%
68%
74%

o First preferred
a Second preferred

Union

91

laay

When

English Financial Markets Per Gable.
The daily closing quotations for securities, &c., at London
as reported by cable have been as follows the past week:
Weekending June

266,134,
1,699,043'
11,806,8081

March

s
2.781.016
3.676.154
4.774.166
3.224.823
2.766.754
4.090.875
7.120.032
5.054.276
3.832.597
3.754.298
5.175.142

484,575
173,883
1,231,833
463.523
281,057
343,559
677,062
360,429
280.334
224.365
360.832

Payable.]

1902-03.
59,807,482
14.545,007
20.004,570

qrs.l
qrs. 13,985, 000
-qrs.
925,000

Maize

April

Per

1903-04.
07,308,809
16,087.055
15.165.028

This week.
Flour, equ.al to

February.

314.196
610.959

Cent.

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
Wheat-

935.369
1.312.437

1905-06.

S

535.552
S.283.022
127.900
285.100
1.266,;{45,
95.320
3,323,996
175.000 20.438.886
280.370
8,138.962
1.043.875 15,068.907
2.589.500 14.647.636
134.046
2.292.099
1.158.601
1.136,912
732.500j
115.739

1.384.045

376,927
290,015

Exports.

1905-06.

s

11.115.712
1,522,400
1.258.238
29.819.277
14.545.607

100.747,803
30s.
4d.
28s.
5d.

Total

December.

;

21.2:59.176

1904-05.
70,017,200
8,749,720
12.716.262

home-grown.

Average price wheat, week
Average price, season

1.881,936,
7.455,721
261,740

.

November

t
1.041.294

1902-03.
59,867,482

1905-06.
63.124,900
11,172,900
26.450,063

Imports of flour
Sales of

1903-04.
67, SOS, 869

1):

Wheat imported, cwt

243.588
455.428

1904-06.

1

1905-06.
63.124,900
17.315,300
--10.299. 100
1.294.895
520,140
-33,391.300
11.172.900

Oats
Peas
Beans -Indiancorn
Flour

August
Sei)tember

1

Imports.

nom.

The following shows the imports of cereal produce into
the United Kingdom during the season to date compared
with previous seasons:
IMPORTS.
Imports of wheat, cwt
Barley

413,224

July

1905-06.

i

$
155.369

i

Jantiary.

(luotations for bullion are reported as follows:
May SI. May 24.
SILVKH.
May 31. May 24.

COlAi.
Londim Slamlard
Bar gold. fine, oz

1904-05.

1

saver— Ni•w York.

ExpoTl».

1

%
469,424,

October

Arrivals— New York £137.000.

quoted nominal.

.still

New York

Gold Movement at

Month.

—

II. S.

silver for the eleven

and has

Is

—

The

[Vol. lxixh.

1904-05.

4.538. 88r

12.991.148
17..507.2K:15.015.971
44.585.536 17.030,03: 15.042.410
48.803.417 17.869.567 15.904.940
45.354.507 15.883.304 14.701.706
45.280.457 16.255.880 13.93S.399
42 .508.066 18.703.7211 15.848.900
38,180.015 10.322.548 14.597.442
47.289.6261 18.038.705' 15.781.796
49.178.417i 15.191.258 12..5:i0.157
42.365.553 15.243.987 12.090.300
1

By

Messrs. Adrian H.

Stocks.

129 West Vn. Pulp & Paper
100
Co. of Delaware
Privilfge to July 2 of

60 shs.
Friinklin Trust Co. at
$3f per share
$1 ,600 lot

10 Phenix Ins. Co.of Bklyn.300
48 Union Term. Cold Storage Co
30

suh.'-cribinK for

500 Brooklyn Ferry Co-_ S525
150 MorniiiKside Real. Col

1ot

y«52
Hielilaud Real Co
1
Interurb.l
$5,000 Tiffin &
Cons. Ry. 1st 6s 1914...

lot

.

Total- -.685. 528,608 629,610,076 565,076, 520 478,797,314 182, 585, 241 159,049,185

MuUer & Son:

storks.

Bonds.
$55,500 Elberon Water & Lt.
Co. l.sts Interim Certfs.7>^-20
$6,000 West Va. Pulp & Paper
Co. of W. Va. 1st 5s
100

. .

.
.

5
3
2

1

June

I

.

.

1359
THE CHRONICLE.
New York City, Boston and Philadelphia Banks. — Below
House Banks. —

1G 1906.J

is
Statement of New York City Clearing
The following .'statement shows the condition of the New a summary of the weekly returns of the Clearing House banks
of New York Qity, Boston and Philadelphia.
The New York
York City Clearing House banks for the week ending figures do not include results for non-member banks.
It should be distinctly understood that as
June 9.
We omit two ciphers (00) w all these figures.
to all items except capital and surplus the figures are the
Capital

averages of the daily results, not the totals at the end of
In other words, in reporting loans and dethe week.
posits and holdings of specie and legal tenders, the practice is to take the aggregate of the amounts for the several
days of the week and divide this aggregate by the number
of daj-s.

We omil
Banks

Loans.

Deposits, a

00s omilttd.

Bank

N. Y..
Manhattan Co .

2.000.0
2.050.0
2.000.0
3,000,0
1.500.0
1.000.0
25.000.0
300.0
600,0
1,000,0
300,0
700,0
500,0
5,000,0
25.000.0
3,000,0
422,7
450,0
200,0
2,000,0
3,000,0
1.000.0
2.550.0
500,0
1,000,0
2.000,0
2,000,0
750,0
1,500,0
3,000,0
250.0
3.000.0
300.0
10.000.0
1,000,0
250,0
200.0
750.0
1,000.0
100,0
200.0
200,0
300,0
1.000,0
250,0
1,000,0
200,0
1.000,0
300,0
1.000,0
1.000.0
500.0
350,0

Merchants'
Mechanics'

America
Phenix
City

Chemical

Kx

CJallatin

Butch. & Drov
Mech.& Traders

Greenwich
American Exch

Commerce
Mercantile
Pacific

Chatham
People's
Nortli America-

Hanover
Irving
Citizens' Cent..

Nassau
Market

& Fulfn

Metropolitan ..

Corn Exchange.
Oriental
Imp. & Traders'

Park
East River
Fourth
Second
First

N. Y. Nat. Ex.

Bowery
N.

Y

.

County..

German-Amer

.

Chase.
Fifth Avenue..

German Exch..
Germania
Lincoln
Garfield

_.

Fifth
Metropolis
West Side

Seaboard
1st Nat.,

Bklyn

Liberty

N. Y.Prod.Ex.
New Amster
Astor
Totals

Rc-

2,850,0
2,699.0
1,417,7
3,544,1
4,072,3
303,3
19,720,3
7,870,8
436,3
2,274,4
150 3
390,4
604,2
4,724,2
12,923.7
4.552.8
676.4
1,006,9
453,1
1,979,4
7,397,8
1.118.8
746.4
335,2
1,416,1
662,1
3,578,3
1.154.4
6.858.9
7,468.4
122.3
3.002.9
1.6.38.9

17.487.1
901,4
776.2
835.1
577.3
5.490.1
1,789,5
778,2
904.7
1.539.8
1.310.5
440.0
1.684,0
811.6
1.128.3
667.1
2.143.5
533.4
618.2
663.7

S
18,332.0
24.257,0
11,033,5
19,482,0
22.948,7
6,361,0
162,278.7
24.741.6
5,498.6
8.165.5
2.525.1
6.366.0
5.020.6
28.072.2
140.172.1
21,684,6
3,329,9
5,779.1
2.081,8
14.837.9
4S.970.S
7.943.0
18.667.0
3.527.0
7.259.4
9.999.2
35.577.0
9.376.0
23.339.0
68.855.0
1.268.9
18.059,0
10,175,0
85,357,3
9,063,7
3,551.0
4.886.6
3.759.8
49.797.2
10,313,4
3,311,8
4,694,2
13,727.7
7.653.7
3.051.5
12.017.4
4.505.0
15.504.0
4,499.0
10,931,6
6,133,4
5,749.1
4.671,0

S
2,857,0
4,236,0
2.521.1
3.452.0
3.072.8
1.443.0
29.004.4
4.592.2
1,3

/'3,1

940,0
654,2
982,0
836,2
2,920,5
16,740,1
3,384,0
284,5
645,0
292,0

"%
10,839
27,040
13,516
19,i:«
24,217
5,593
149,531
23,790
5,934
5,973
2,854
0.926
5.722
19.986

1.746,0
2,168,0
1,037,0
1,696,0
2,285,0
141,0
9,328.5
1,917,3
273,6
626,7
78.2
700.0
541.4
1,790.2
13.419.7

118.824,

1,.342.7

18,210

417,6
998,1
523,2
1,053,1
7,041,1
363,2
1.538.1
456.2
661.2
268.1
3.745.0
397.3
1,373.0
3,040.0
132,0
2,877,4
2,019,0
2,235,8
363,3
298,0
480,9
184,0
1,578,5
687,8
850,0
669,8
2,426,0
291,8
170,4
915,4
400,0
1,819,0
730.0
535.7
412,8
566,2

2,6.30,0

7.782.0
1.655.8
3.083.0
314,2
1,168,3
2,384.6
7.551.0
1.760.4
3.875.0
18.579.0
243.0
2.628,0
814,0
17,700,1
1,872,9
503,0
901,8
715,4
12,501,6
2,376,1
185,0
477,8
1,190,0
1,779,7
600,7
1,447,0
852,0
2,860,0
757,0
1,675,0
1.417.4
889.5
1.008.0

206,0

27.2
23.6
20.3
26.9
24.0
28.3
25.6
27.3
27.7
26.2
25.6
24.2
24.0
23.5
25.3
25.9

3,668,
5.823.

26..

$

2,662
14,587
56,896.

30.6
25.2
26.0
7.775. 25.9
18.447. 25.0
3.900. 19.7
0.966
26.2
10.402. 25.5
43.876. 25.7
9.270. 23.2
20.314. 25.S
79.721
27.1
1.469
25.5
20.125
27.3
10.545, 26.8
73.136. 27.2
8.804. 25.3
3.997. 0|20.0
5.737. 9 25.1
3.538. 25.4
56.327. S25.0
11.509. 26.4
4.401. 23.5
5,561 ,9:20.6
i.Hl24.2
14,885.
i.3|26.0
7.936.
3.105. "124.8
11.932.
;;9119.8
4.940..0:25.3
17.951,,0'26.0
4.867,,0 30.5
24.0
8. 978.
24.4
7.488
21.4
6.773
26.1
4.651

Loans
and

plus.

Invest-

Legal
Tender

Net

and

Clear-

Other

ing
Agent.

—

Imports and Exports for the Week. The following are
the imports at New York for the week ending for dry goods
June 7 and for the week ending for general merchandise
since beginning first week
FOREIGN IMPORTS AT NEW YORK.

June

8; also totals

For week.

1906.

Dry Goods
General Merchandise

Deposits.

$2,022,980
9,556,375

$10,908,355
S73,965,361
262,752,968

_

Dry Goods
General Merchandise ..
Total 23 weeks

$

Chelsea Exch
Colonial
. .

1.000.0

S
160.5
141.1
90.0
355.5
419.6
1,079,8
140.0
144.1
164.5
580.4
172.7
296.2

200.0
500.0
200.0
500.0
250.0
200.0
200.0
2.30.7
100.0
294.1
100.0
107.3
100.0 1.324,5
200.0
173.0
100.0
149.9
750.0
703.1

Mutual
19th Ward..
Plaza
River.slde

State..

Ward..

23d Ward.
Union Kxch.
United Nat.. 1,000.0
.

Y'orkville...

100.0
300.0
200.0
200.0

Coal&I.N-af
34th St. Nat.

Batt.Pk.Nat

184.8
353.5
266.5
206.6
108,8

S

851,6
1,242,1

867,9
4,385,9
6,612,0
5.354,4
1,060,9
5,431,6
4,821,4
4,536,2
2.871.9
3.764.8
3.170,0
3.387.0
1.862.2
12.422.0
2.594.0

$

$

12.6
31.0
76.4
93.3
358.0
665.0
16.3

202,8
240,7
9,4

135,8
24,5
18,7
174,0
24,7

845,0
37,0

200.0
L50.0
300.0
252.0

.

Brooklyn . .
Mfrs' Nat...

Union

1

.000.0

750.0
300.0
100,0
1.000,0

Jersey City.
First Nat...

129.9
387.2
175.8

32.7
52,1
40,8
340,8
310.0
55.8
63.6
321.4
196,9
306,8
121,5
257,6
274,0
159,0
119,6
436.0
248.0
174.9
190.2
112.5
335,9
211.0

%
60.4
57,5
39.3

539.8
379.0
390.5
91.0

31.6
99.7
183.0
3.7

26.0

.356.4

14.0

235.0

1.784.1

69,7

381,4
221,5
43,6
628,6
279.0
97.7

2.506.1
2.810.3
2.054.7
4.443,4

42.8
12.0
124.0
393.6
332.1
250,0
128,0
25.3
272,0

201.1
248.4

1.454.1

13.3
4.5

$

214.1
286,7
269.3
280,9
505,1
694,0
90,6
1,082,0
196,0
124,9
171.2
65.6
263.9
701.0
138.9
41.4

7.482.3
2.073.1
3.431.3
4.200.0
1.241.9
686,1

6.54.8

907.7 10..305.8
829.1
5,851.0
608.
3.285.0
196.9
1.714.4
1,039.5 10.886.0

71,1

156.6
703.2
560.0
280.0
120.2
545.0

Hud. Co. Nat
Third Nat...

4.393.6
2.929.4
1.680.7

106.1
103.8

44.0

326.8
84.0
90.3

Hobokcn.
Nat
Second Nat

110.0
125.0

2.821.8
1.571,9

152.5
41.0

47,4
52,6

.

557,7
183.8

$12,466,319

$55,263,423
215.338.574

$63,051,969
211,058,230

1906.

For the week

1905.

$11,999,728
271,271,381

Previously reported
Total 23 weeks

•

1904.

$10,158,657
232,467,019

1903.

$8,761,345
208,759,154

$7 872,493

222,864,153

Note.

— As

8283,271,109 8242,625,676 8217,520,499 8230,736,646

the figures of exports as reported

by the New York Custom House

from week to week frequently show divergence from the monthly totals, also compiled by the Custom House, we shall from time to time adjust the totals by adding
to or deducting from the amount "previously reported."

The following table shows the exports and imports of
specie at the port of New York for the week ending June 9
and since Jan. 1 1906, and for the corresponding periods in
1905 and 1904:
.\T

NEW

Y'ORK.
Imports.

Gold.
Since Jan.

Week.
Great Britain
France

Week.

$33^405

$6'l'8".626

22b'.6o6

893.046
4,045,000
34,350

$253,400
127,600
23,110

85,590,422
32,889,146
64,292,519

$310,289 $44,552,870
5 353 453
99,923
274.773
6,854.811

Germany

I

Siruc Jan.l

$24 248.880
9.103.114
9 209 084
$272'; ,302
918.070
131.845
2,687
792 329
14,239
21,061
149.548

.

..

her countries

Total 1906
Total 1905
Total 1904

.

.,

--

120.1
57.3
58.1

S
086.3
1.157.4
1.018.9
5.226.1
6.938.0
3.779.9
1.002.4
6,210.1
5.365.4
4.557,3
3,413,7
3. .88-1,
3..580.

4.071.0
152.6 2.071.0
814.0 14.055.0
47.0 3.118.0
127.2 2 166.
80P.O 7..582.
1 399.2
15^.7
79.0 4.021,0

West Indies
Mexico
.
South America
All other countries

To t al

205.9
247.3
247.2
754.8
1.246.7

934.0
613.0
38.4
1,339,0

'"6"
.

.

$2'.320

3.903
10
81.850
346.143
607,402
38,452

"l'851
23.909
3.260
2.948

266

$1,078,070
1,596,349
426.777

$34,288

$949,910 $25,073,222
815.557 14,402,725
721.495 19,605,259

9 6

Total 1905
Total 1904

65.001,
19,266,

Of the above imports for the week in 1906, .|;251,000 wore
American gold coin and $3,837 American silver coin. Of the
exports during the same time $2.53, .500 were American gold
coin and $
Avere American silver coin.
Auction Sales.

— See preceding page.

^auhlng and

4.099.1
1.1

1

S310

$947,435 $24,236,224
653,000
13,760
' 2',475
64,038
100,000

1.2.52.5

i^itmncial.

491.1

TEANSCONTINENTAL MAP

181.9 2.896.2
94.6 3 080,6
46.5 2.255.2
296,7 5.034.4
177,9 12,318.4
5 668.0
157,0 3.935,0
217.8 1.8'28.7
877.0 12,312.0

Mailed upon request.

Spencer Trask

183.6
67.7

171.0
92.8

Co,,

2.772.1

William and Pine

Sts.,

New York.

5.3.56.5

211.6
322.7

693.0
109.9
33.7

&

Investment Bankers.
Branch Office, Albany, N.Y.

400.0 1,148.6
250.0
681.5
200,0
322,7

.

$8,942,459

$64,726,047
262,359,329

EXPORTS FROMJNEW YORK FOR THE WEEK.

Borough 0/
Brooklyn

Borough

$11,579,355

The imports of dry goods for one week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending June 11 and from Jan. 1 to date:

Germany
100,0
200,0
100,0
100,0
300.0

81.777.891
10.688.428

Silver.

Boroughs 0/

Man.&Krx.

1903.

$1,338,546
7.603.913

8336,718,329 3327,085,376 8270.601.997 $274,110,199

Great Britain
France

Wash. H'gts

January.

1904.

$2,191,069
8,716,686

Total
Sirwe January 1.

&c.

N.Y.City.

Centui-y

1905.

in

Banks

Notes.

North Side.

154.489,5
145.638,1
146,377,8

a Including for Boston and Philadelphia the item "due to other banks" and also
Government deposits. For Boston these Government deposits amounted on June
on June 2 to 82,571,000.

A

Deposit with

Bank

Specie.

ments

Mechanlcn' .
Nassa\i Nat.
Nat. City...

139,335.4
131.464.9
151.948.5

252,371,0 13,956,0
255,003,0 U,024,0
252,344,0 14,042,0

64,171,0
64,277,0
61,045,0

214,225,0
216,018,0
217,542,0

West Indies
Mexico
South America

two ciphers (00) in all cases.

SurCapital.

Consol. Nat.
Fidelity
14th Street.
Hamilton ...
Jefferson
Mt. Morris..

7,536,0
7,529,0
7,545,0

199,481,0
202,218,0
201,676,0

5,876,0
5,450,0
5,413,0

Exports.

We omit

.

14,854,0
13,800,0
14,521,0

52,898.2 1036,751,1 19,739,2 1,581,568,9
;l,S16,3 1047.135,4 48,931,4 1,732,598.8

EXPORTS AND IMPORTS OF SPECIE

results:

First

174,900,0
177,676,0
175,994,0

81. 395.9 1026,832,9 50,011,3 1,928,702,8
S3. 896.1 1032,731,8 49,834,9 1,665,808,1

9 to 82.569,000;

—

Broadway

185,441,6
180,981,0
183,105,6
187,129,6

!

Reports of Non-Member Banks. The following is the
statement of condition of the non-member banks for the
week ending June 9 1906, based on average of daily

l-2th

$
1040.722.1
1049.390,8
1051,543,2
1059,162,6

49,860,0
49,S60,C
49,860,0

June 2-.
June 9..

a Total Ignited States deposits included. SIO.672.700.

Columbia

Clearings.

Circulation.

265.933.0
266.709.1
June 2-- 266.709.1
June 9-- 266,709,1
Boston.
May 26-. 42,936,0
June 2-. 42,936,0
June 9.. 42,936,0

19.1

117,472,7 149.236.4 1059,162,6 187.129.6 81.816,3 1047,135,4 00.0

Banks.
00s omitted.

Legals, Deposits, a

Specie.

se've

of

Merchants'

New York
May 19-.
May 26-.

May

Legals.

Specie.

Loans.

Surplus

Phila.

two ciphers (00) in all cases.

Surplus

Capital.

and

Banks.

2.582.1
1.851.1

Moffat

1.4.52.0

Tot. June 9. 121.37.0 15670.5 14.3388,8 6,773.9 7,865,6 14,911,5 fl. 152.9 1,55179.2
Tot. June 2. 12137.0 15670.5 143198,2 6.437.3 7,254,9 14 309,5 6.029.8 154482.8
Tot. May 26. 121.37.0 15670.5 143162,3 6.490.2 7.347,0 16.484.9 5.857.5 156795,9

6

&

White,

member* Mew York Htook Kxchnnire,
UANOVKK BANK BUILUINO.
NASSAU 8TRKBT.

jDealem tn Invostment
OOMnil»<mOK OUDKRiS RXERVTED

Securitieii.

POK

CAHII UM.Y.

THE CHRONICLE.

1360

^aulijers^
Far Dividends

see

about two-thirds of that recorded

(Sa^jette.

last

week and includes

few features of interest.

page 1358.

Wall

[ToL. Lxxxn.

Albany & Susquehanna 33^8 have been in such request
to carry the price uj) from 111^ to 116.
Wabash debentures have been mucli less active and lost a part of the ada.s

Street,

Friday Night, June 15 190G.

—

The Money Market and Financial

Situation.
Kcixjit.s as
to exi.vtiiig coiuiitioii.s in tlic afjricultural (li^tricl,s have; been
one of the doniinant iiillucnct's in Wall Htrcot this week.

vance noted

last

week.

—

United States Bonds. Sales of Government bonds at the
Board include $25,000 2s coup. 1930, s.20f., at 104 J/^ and
$202,000 4s coup. 1907 at 103 5^ to 104. The following are

They were somewhat connicting, and evidently gave an
and hesitating tone to the markets. On Thursday the

irregular

daily chjsing quotations; jor yearly range see third "page

however, the stoek market develop(-d Aveakn(\ss, and a following
sudden liquidating movement of eon.siderable force set in,
Interest
June June Jvne June June June
which could hardly be attributed to such reports. WhatPeriods
9
11
12
13
14
15
ever the cause, it is evident that the investment demand for
2s, 1930
registered jQ —Jan 1*103
*103
:*103V;'*103>^ *103K »103!4
securities is exceptionally limited, even for the season, and 2s, in.-?o.
coupon !q Jan 1*103!^ *I03H *103H *103H *103Ji *103»i
the offerings arc not readily absorbed.
In short, there 3s, 1908- 19 18 -. registered Q Feb !*102?i *102'4 *102>i *102>i *102K *!02>^
3s. 1908- 1918
couponti- Feb |*102M *10'2H *l02Ji *l02~yi *102K *W2yi
3s, 1908- 1918-. small couponQ
Feb i*102M *102H *102H'*102M *102'A *i02'A
seems to be little public interest in the market.
4s,
registered Q —Jan 1*102^ *102^ *102H *102?4 *1025i *102Ji
The reports referred to, although as usual more or less 4s, 1907
1907.
coupon Q Jan *103K 1035-i *1035ii 104
*103?i 104
registered Q —Feb *129K *129'4 *129M;*129J< *129M \*\29H
conflicting, are in the main favorable and indicate a con- 4s. 1925
4s. 1925.
coupon Q Feb *129^i *129K *129Ji *129K *129Ji '*129H
dition of the crops about up to the average for a series of years
* This is the price bid at the morning board; no sale was made.
or better.
There is, moreover, nothing apparent in the
Railroad and Miscellaneous Stocks. The stock market
general situation to cause apprehension.
The financial
situation abroad has improved.
The Bank of England's was dull and irregular during the earlj- part of the week.
weekly report shows a larger percentage of assets to liabilities The A^olume of business was much smaller than last week
up to Thursday, when, as noted above, a heavj- tone develthan for a long time past.
The local money market was easier under the influence of oped and a rather sharp decline, involving some liquidation,
funds returning from San Francisco, and receipts of gold included practical!}^ all the shares traded in. To-day's
market has been a continuation of that of the late hoursfrom Australia, until to-day, when rates were firmer.
The open market rates for call loans on the Stock Ex- yesterday, although in a somewhat modified form.
Baltimore & Ohio has been exceptionally strong on rumors
change during the week on stock and bond collaterals have
ranged from 2}^ to 5%. To-day's rates on call were 3J^@ of a possible increase of its dividend rate, and it closes with
5%. Prime commercial paper quoted at 5@53^% for en- a net gain of nearly 4 points. St. Paul added 5}4 points to
the high quotation noted last week and has held about half
dorsements and 5@53^% for best single names.
The Bank of England weekly statement on Thursday the gain. Pennsylvania is one of the few stocks which closes
showed an increase in bullion of £1,202,555 and the per- only fractionally lower. Delaware & Hudson has covered
a range of 1 1 points, closing near the lowest.
centage of reserve to liabilitieswas 47.38, against 43.24
Reading lost
over 12 points of its recent aclvance and rallied feebl}^ Northlast week.
The discount rate remains unchanged at 4%. The Bank ern Pacific sold on Thursday 11 points lower than on Tuesof France shows a decrease of 3,875,000 francs in gold and day and Great Northern 9}/^ points, after which both substantially recovered, but declined again to-daj-.
an increase of 1,600,000 francs in silver.
.Miscellaneous and industrial issues haA'e in a general way
NEW YORK CITY CLEARING-HOUSE BANKS.
followed the course of the railway list, with Anaconda Mining,
Differences
as usual, the erratic feature.
Fluctuations of from 4 to 10
1906.
from
1904.
1905.
points have been the rule, and almost the entire list closes
Jtine 9.
previous week.
June 10.
June 11.
with a net loss of from 2 to 6 points. New York Air Brake
S
S
S
$
Capital
is exceptional in that it is 4 points higher.
The United
117,472,700
115,972,700
115,972,700
Surplus
149,236,400
134 148 300
138,953,600
States Steel issues are 2
and 1
points lower for the comLoans and discounts.
1,059.162.600 Inc. 7.619.400 1,089,520.900 1,042;093!300
\

:

'

—

•

-

Circulation
Net deposits
Specie
Legal tenders

48.931,400
01,047,135,400
187,129,600
81,810,300

Reserve held

25%

Dec.

807.800

38.088.000

46.575.100

Inc. 10.384.300 1,123.832,800 1,109,231,200
Inc.
4.024.000
205,492,700
231,642,500
Dec. 1.081,900
85,293.000
81,227,700

268,945,900 Inc.
261.783.850 Inc.

2,942.100
2,596,075

290.785,700
280,958,200

312,870,200
277,307,800

7.162.C50,Inc.

of deposits

346,026

9,827.500

a $16,672,700 United States deposits included, against $17,250,000 last week and
$12,731,700 the corresponding week of 1905. With these IJnited States deposits
eliminated, the surplus reserve would be SU. 330, 225 on June 9 and $11,128 525

on June
Afore.

—2.
Returns

of separate

94^^^(0194 15-16rf for short.
Amsterdam bankers' guilders
1-16/c for short.
Exchange at Paris on London to-day, 25f. 17}^c.; week's
range 25f. 173^c. high and 25f. 17c. low.
The week's range for exchange rates follows:

were 40 1-16@40

— —Lon^i

Sterling, actual
4 83
4 8290

Low.

®

(S)

Paris Bankers' Francs—
High
(To
5 20
5 19J^a!5
Low
5 20a
(ft
5 20
|5

Germany Hankers' Marks
High
94 .')-10 &

Low
94 5-16
A msterdam Bankers'

High
I-ow
Less:
Plus:

—

94H\

(a
94H
Guilders

—

I

I

1

1-16 of 1«
k 1-16 of 1^
(I

—

ShoTl4 831014 8605
4 829514 8590

4 801014 8645
4 859514 8630

17Ka
IsH

@

94j^
94>^

®94
@94

40 1-16
40 1-16

(3>

d 1-32 of 1%.
X 1-32 of 1%.

ft
2/

@

3-32 of
3-32 of

5

17^

Cables

@
®

4 80,50
4 8035

I

bllVM
15-16
15-16dl

403-^

I

I

40 1-16*1

1%.
1%.

The
The following were the rates for domestic exchange on
New York at the undermentioned cities to-day: SaA-annah
buying, 50c. per $1,000 discount; selling, 75c. per $1,000
premium. Charleston, 1214c. per $1,000 premium. New
Orleans bank, 50c. per $1,000 discount; commercial, 75c. per
$1,000 discount. Chicago, 5c. per $1,000 discount.
St.
Louis. 20c. per $1,000 discount.
San Francisco, 75c. per
$1 ,000

premium.

—

State and Railroad Bonds.
Sales of State bonds at the
Board are limited to $30,000 Dist. of Col. 3.65s atll7K to
118. The market for railway bonds is again dull and narrow,
The volume of business in this department is reduced to

'

Range

lor

I

15. [Week

for

Lowest

200155'4June

Pacific subscriptions
Cleve Lorain & AVheel.-

Comstock Tunnel
Diamond Match rights.
Eastman Kodak
General Chemical
Preferred
New Orleans Ry
Preferred

100 95 June
1,100 20c. June

.

'

&

Lt_.

New York Dock
Ontario Silver Mining
RR Securities— Ills Cent

Range since Jan.

week

1

,

20On2HJune

Can

—

Foreign Exchange. The market was irregular though
generally strong this week, closing firm.
Gold imports $1,670,000; this arrived at Vancouver, B. C, from Australia,
was transshipped to San Francisco and transferred hither.
To-day's (Friday's) nominal rates for sterling exchange
were 4 833^@4 84 for sixty day and 4 86)^ @4 87 for
sight.
To-day's (Friday's) actual rates for sterling exchange
were 4 83(5)4 8310 for long, 4 8590@4 86 for short and
4 8635@4 8645 for cables.
Commercial on banks 4 8260@
and documents for payment 4 82(5)4 83.
4 8270
Cotton for pavment 4 82@,4 823/g, cotton for acceptance 4 8260
@4 8270 and grain for payment 4 82 J^@,4 83.
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 20@.5 19^a for long and 5 17J^/i@5 17i^a for short.
Germany bankers' marks were 94 5-16@94 3/g for long and

High

Sales

STOCKS.
Week Ending June

Assoc Merchants 1st pf. .i

banks appear on the preceding page.

^

preferred respectively.
For daily volume of business see page 1370.
The following sales ha^-e occurred this week of shares not
represented in our detailed list on the pages which follow:

35,562,400

Surplus reserve

^

mon and

June
385
1
50 275 June
100 79 June
200 103 June
500 335iJune
200 81 June
800 40 June
100
2}i2June

stock trust certificates
4o0a-92?4June
St Jos & Gr Isl 1st pref100 64 June
2d preferred
125 35 June
Twin City Rap Tran rtsJ 4,850 l>,June
Vulcan Detinning
200 9", June
Preferred
200 63MJune

Lowest.

Highest.

112J^June
155JiJune
95 June
22e.June
1
June
12;275 June
June
14 79
12!l03HJune
14' 34
.June
15:
15:
9;

12I1065J
14 155
9 85
11
14

10c.
1

Highest.

JanH2!^ Mch

May
Jan
Mch
May

155)4 June

95
40c.
1

12 16:
Jan|275
14 77
Jan 84M
13 103
Mchl06?i
14 33^4 June 34
June 81
81Ji!June 14 81
42 June 12 34
Jan bay,
2HJune 9 2
May 4

Apr

Mch

May
June
Feb
Feb
June
June
Jan
Jan

15 95^4June 13 r92M June 98
June 12:! 60
12 64
May, 69>4
12 35 June 12' 30
Mch 40

mjune

13

11
11

lOJ^June 12

14,

63HJune

15'

Jan
Jan
Jan
IK June 15-^ June
9
Jan \b\i Jan
50
Jan! 67
Apr

—

Outside Market. A generally weak and declining market
has been experienced on the "curb" this Aveek, though
trading at times has been almost at a standstill.
A feature
in the early part of the Aveek Avas the good demand for
DelaAvare & Hudson 4s.
HaA'ana Tobacco common moved
up in the first half from 2b}i to 263/^. but fell back to 24^
at the close to-day.
The preferred adA-anced from 37J4
Mackay Companies issues held firm, the common
to 393^:|;.
opening doAvn half a point from Friday's close, at 74)^, and
running up to 76^; the close to-day was at 743^. The

moving up from 74^ to 76. dropped to
American Tobacco lost its recent adA-ance, going
73 1^.
doAvn from 440 to 400.
Bethlehem Steel common was Aveak,
and fell fi-om 32 1^; to 295-8
International Mercantile Marine,
notAvithstandiiig the favorable annual report, has declined,
the pref(>rr(>d losing about a point to ^Q'-^i.
Chicago SubAvay opened the Aveek at 543^. fell to 523/^, and recoA^ered to
Northern Securities stubs were unusually actiA-e and
5334sold up from 250 to 27834 and back to 262 3^.
There Avas a
break in the mining stocks toAvards the close of the Aveek.
Boston Consolidated Copper, after adA-ancing from 283^ to
303^, declined on Thursday to 28, closing to-day at 28^.
United Copper common Avas dull, and after adA-ancing fractionallj' to 64 3^. dropped to 623^, ending the Aveek at 623^.
Greene Consolidated Copper, from 25 J^ rose to 26. and then
dropped to 243^;. Butte Coalition .sold down from 33 J^
to 29 7^.
Utah Copper, after advancing from 29^ to 30,
declined to 273-^.
DehiAvare & Hudson 4s, on large sales
advanced from 1103-^ to 1123^, the highest on record, but
afterwards dropped to 108^:^.
Outside quotations Avill be found on page 1370.
preferred, after

•

;

1

.
.

New lork

Stock

Exchange— Stocli
<»CCIJI*V'IS«J

ISTOCKti—HJilJiKST A^l>
June 9

Moniiau
June 1

LOWKUT

i'l'ursUav

hrid.au

June 13

'i

Record, Daily, Weekly aad Yearly
TWO l*Aiil'>

HALi. FRJVKH

W "Inesdaij

Turfday
June 1

June 14

June 15

V

.

NEW yoKK

sax)OK

kx(;haxge

SaLes
the

01

Kanue
On basis

Sliares

K:iilion<tr'.
Atoll. ToD.-k,T<feSaut.a

tor

year jyun

lor J^evieus

'Cani/e
|

year(iyu.Z)

of lOO-sh.arelnts,

Week
Lcnvest

Lowest

Hiqtiest

Hiahest

44,250 8538 May
0678 Jan 13j 77=8 i^lav 9338 3Iar
1,820 99 4.May
106 Jau 3 99 Jan 105=8 Sep
2,650 1374 May
Kr; 7s J an 20 120 Jau 170 Apr
lU9'vll0'4 n0i2ll2
112411438 11X4114=8 Baltimore <fc Ohio
145,000 10534 .May 2 117 Jaii27| U)04 Jan U7 Aug
l(lil34 110'.
111 1121.
:^^'•2
(ISO,
"i':!i.j
93 94
3'JI)
Do pref
92 4 May 2 OyL^Jnu 5 91 Mai LOO Aug
94
114
9 136 93 \ 92 4 94 4
83^4 Si'->i
.S034 S2 78 Brook lyu Hapiil Transit.. 136,280
81
821.
81
84
72 May 2 y4ipJaa2')| 5078 Maj 9 1 4 Nor
.5 Si
i^'-i^-i
81
84--'i
*83
83 86 •83 80 *8S 8S Bntfalo <fe .Su.sqiu', pref...
83 Jan 12 87 F"eb 8 84 Dec 9138 .Slay
8b
*K<
*83
80
S6
1.'. 9 1-2 ICO
1;.9
12! 60 6 loss's May 2 1773^ Jau 19 13034 Jan 1774 Sep
l59 4iro38 / lanailian Pacific
160
KiO^h liU^si 159 4160
-67
*i;7iii 69
•67I12 69
'67
6"
*67
68 4 •07 4 6s 4 V /"anarta .Soutlieru
fiHi-i
664 May 1 '707, Jan 8 07 >;ov 7434 Aug
'235 23H
233 237 '22S 237 Central of New-lersoy..
*235 238
'235 238
204 May 2 23978May24 190 May W5 Oct
58>2
10,700 534A^28 6.' 4 Jau 23 454 I^Iav 00 4 Mar
5838
5734 58
Che.sapeake cfc Ohio
58 14 59
574 58 4
583f P8
28 30 *28 30 26 30 *2s 30
30U 25 May 5 384 Jan 15 30 Dec 44 4 Mar
30
30 Chicago •& Alton
:w
•7]
781.2
*71
100 74 May 3
Do prol
78 4 •7i
78
78^4 784 •71
79
7 8 '8 78^4
Oct 8334 Apr
80=s Jan 12' 75
19
1918
IS
7,000 17 4 May 2 23=8 Jau '•^'" 17 4 May 254 Mar
IS^.
18^V ChicaKO lireat Western..
19
191*
194 184 1
19
28 83 May28 8(5 lo Jan 17| .3334 Mav 89 Sep
*82Vi ,'^4V •82 V. 841). ?82 4 82 4 82 4 834
Do 4 p. c. debentures
4 84 4 *804 84 4
fe2
*75'.^ 78
224 7438 May 3 50 Jan 31 00 ,Tuc 784 Sep
754 75 4 75
Do 5 p. c. jiret. "A'"
*75V2 77^4
«754 75 4 '754 774
'29 1^ 31k,
2,713 28 J'nel3 39=8 'ail -'-^1 29
•29 Si
29 4
284 28 4 28=6
Do 4 p. c. pref. "B'
28
Mat 37 4 Ayr
30 4 31
1V84 18138 178 180\ (Chicago Milw. & St. Paul. 302,5.)O 155 4 May 2 193 Jan 22 108 4 Ma\ L87 4 Apr
17GV179H2 17938 1814 1804 1824
1751. .177
1 85 i-j 1 87
1,130 1774 May
»185 187
18941894 I87 187' 186 186
Do pref
Jau 2i 182 4 Jan L92 4Apr
189 191
196
203 20tv'. 207 209^8 206 4 2ii9
205 2074 203 206 Chicago <fe North Western 22,827 192 Apr 27 240 Jau 15 alOOi^J'ne 249 Jan
*2(>-A
204
'226 235
235 238
1,200 230 May22 270 Mar30 234 Jau 2054 Feb
•22,5
238 238
235 235
Do pref
28.5
235 235
•175
•170 180 Chic. St. P. Minn. & Ora.
»17.')
180 '17634 180 •175 180 •17o 178
171 May 1 198 Jan 15 150 Jau 225 Jau
180
180 190
188 4Mar30 202 Jan 15 195 Jan 130 Jan
•180 190
Do pref
180 190 *175 180 *175 180 •175 180
300
14
934 Apr 19 184 Jan ly
11 144 'U 14 4 *12 14 4 Chicago Term'l Transfer.
734 Jan
20 J'ne
'U 14 •11
14
14
32
400 27 Apr 27 4234 Jan 2 2 17 4 Jan 42 4 J'ly
•29
32
30 84 29 34 *29 34
Do pref
34
32 4 34
5if.
4'',
8,800
378Mav2l 13a^FeD20
439
43,
4 78
5
4
44 Chicago Union Traction
54
6 J'ne 1378 Feb
5
13
13 4 •13
2,100 12 May21 4678 ^'6lJ21
13 3a 14
134
Do pref
3934 J'ly 64
Feb
18 V, 13 S:
13
134 134
I314
98
98 •'e
3,70X) 904 .May 2 1097^ Jau 15
954 9534 Clave. Cm. Chic. & St. L.
90 Jau 111 Mar
98^8 99
964 »64 9538 96
*9<5Vj 99
'110 112
112 Mayll 118 Jan 23 115 4 J'ly 12134 Mar
•110 112
'110 112
•no 112 *110 "115 '110 112
Do pref
33^8 34 12
83 12 333.
344 33
34
34
334 33 4 Colorado & Southern ... 10,600 29 4 Jan 4 37 Jan 24 224 Jau 304 Apr
33 7g 344
7038 70^8 •70
800 664 Apr 30 73 Feb 91 62 May 09 78 Deo
•70
70
69 4 69 7t
7012
Do 1st preferred ...
694 69 4
704 70
52
523.
1,600 43 May 2 5634 Jan 12, 32 4 May 55 Dee
61
49
4934
51
61
48
604
Do 2cl preferred
51
604 51
222 229
27,730 189 May 2 231 J'ne]2 1784 May 21U34 Oct
221 22(5
220 226
220 222 4 Delaware <fe Hudson...
226 228
227 231
'oUO 550
'522 650
100 43734 May 2 560 May24^ 335 Jan 1984 Oct
•500 550
*525 5.50 *525 55(>
535 535
elaw. Lack. & West'n
45 14 463,
11,400 36^8 May 2 517g Jan 26 274 May 393, Dec
44'4 46
4534 40)1.
414 454 Denver <fe Rio Grande
464 4714 46 4 46
88 S2 883^
88 93 88 89 '4 88 88
600 8478 May 2 914 Jan22l 83 4 May 914 Dec
•88
Do pref
89
89
89
95
500 904 Apr 30 102 Feb 9' 764 Jan 96 4 Deo
95
95 Vi 95 V; '941^ 964 •954 9
95
595
94
94
Detroit united
171.^ 177,
•18
1938 -184 194 {18«4 1834 Duluth So. Snore & Atl.
•17^8 20
1,650 164 May - 227b Jan 111 1134 May 2234 Nov
184 1
38 14 39
•38
1,620 32 Apr 28 45 Jan 11 21 Mav 4634 Nov
39 14
38
37
37
Do pre!
39
3938
393s 39 4
86,770 384 May - 507g Jan 16j 374 May 5234 Aug
444 454 43 4 44 'f
434 44 Urie.
45\ 4534 4514 45',
454 46
79
79
1,841 75
May 2 83 Jau 15 7479 May 854. Aug
79
Do Istpret
79
794 7934 7834 794 78 4 7834 78 4 78»8
71
68''4
71
5,200 62 4Apr27 76'% Jan 16! 554 Jan 7836-Aug
70'4 71»«
7034
69
70
70 4 703,
69
Do 2d pref
•72
76
72 76 •72 76 72 76 Evansv. & Terre Haute..
•72
75 Jan 8 76 Jan 2 63 J'ly 7
*11
Aug
76
76
•85
9.>
86 95
'85
•86
88 Keb 6 ^90 May3i 85 Nov 96 Aug
95
*85
95
95
85
95
Do pret
17,500 276 Mav 2 348 Feb 9 i36 Jan 335 Apr
303 306
299 4 3034 2964 302 Great Northern, pref
S04>a3053. 305 30734 3064 309
86 Mayl2 924 J an 2'.
Green Bay.feW.,deb. ctf.A
33 Feb 90 Jan
17 May 2 23 4 Jan 19 17 May 24 4 J'ne
Do
deb. ctf. 13
48
48
48 50 Havana Electric
43
1,410 33 4 Jan 19 51 Mayll
43
15 Apr 38 4 Dec
484 49
484 484 48
48>s
•82
95
90 96 82 95
•90
*90
96
774 Jan 15 9734 May 8 60 J'ne 82 Dec
90
Do pref
95
95
129i« 129^4 1304130 4 128 132
12734 128
900 113 4 Feb fc 135 Apr24 86=8 Jau 121 4 Deo
132 132
Hocking Valley
127 127
*98
99
700 93 May 2 9938.J'ue 1 90 Jau 97 4 Nor
•984 99
9834 9334 •984 99
99
98
99
98
Do pret
18141824 I8OI4IH3I4 1804 181
13,704 164 Mav 2 1844J'no 7 I6234 Jau 183 Sep
178 41807e 17734 17934 I Umois Central
18imS3
594 6114 5034 613b 504 50 '8 50
5939 51
504 50
50 4 i-nterboro-Metropolitan. 23,202 5(1 Apr27 55:<8MaylO
85I4 853t,
85
84'8 8538
6,750 80^4 .\iav 3 873^ May 10
86 4
Do pref
86
83 4 84 4
844 85
28 14 281.
27 28 Iowa Central
700 2434May 2 3434 Jau 12 24 May 32 Feb
284 2834
•27 4 28 4 27
2834 29
28
54
55 4
1,400 49 May 4 6334 Jan 13 60 May 61 Dec
Do pret
53^8
544 •52
64
534 55
544 544 63
*72iu 75
•73
75 4 754
'72 4 75 Kanawlia <fe Michigan..
200 52 Mar 7 76 J'ne 8 29 4 May 58^4 Deo
75^ •72 4 75
75
75
•80 1-^ 81
*80 4 81
200 a;80 J'nelS 84 4 Feb 7 81=8J'ne 87 Oct
C.Ft.S.c&M.,tr. eta. ptd
•804 81
•SO4 814 •804 814 a;80
80 4
2634
•26«8 271,
26
264 264 2638 2638 2578 26 4 2534 263, Kansas City Southern ... 4.100 23 4 May 2 37VJan 6 22 4 May 364 De«
•5414 67?i
64 56
54 4 5518 •544 57
•54
1,200 50 May 2 71 Jan 6 62 Jan 70 Feb
56 4 64
56
Do pief
•33
•33
36
•33
•33
*33
36
33
36 Lake Erie <fe Western.
32 May 2 447g Janl2 284 J'ne 47 4 Dec
36
36
36
•86
•86
92
•86
*86
MaylS }92 4 Jan 25 91 J'ne 106 Mar
92
*86
92
86
92
95
Do pref
92
J.'-4
•69
72
60t) 67=8 JaJi 4 8I34 Jan 16
69
74
72
*7o
69
69
69
Long Island
69
74
504 May 7878 Nov
1474148^8 148414934 14734 148 4 146S8 1474 146 1474 Louisville & NashviUe... 25,000 136 4 May 2 1564 Jan 19 ri344Jan 15738 Sep
148 149
*150 153 {153 153
'151 153
50 1474 May "^ 162 Jan 26 161 May 175 Feb
148 152 Manhattan Elevated...
150 153 •150 153
etrop. Secur., sub. rec.
65 Feb 28 754 Jan 15 68 =8 N o
91 Mai
Certificates of deposit..
704 May '^ 75 7b Mayll
*
1144 11341134
100 105 4 May 3 127 Jau 16 i'u"" May 133"' Ang
1144
110 114 Metropolitan Street
114
•111 116 •111 116 *
Certificates of deposit..
111 114
110 114
114
114
104 4 May ^ 11 334 Apr 4.
22
22»8 22»(
2338
15,510 IS-'eMay 2 26=8 Jau ^^ 184 May 26 Mar
22's
224 234 224 23 4 Mexican Central
224 234 23
•140 145 §144 7el50
•145 150
880 140 Mario 155 J'nelo 5130 J'ne 156 Aug
149 150 •145 150
160 155 Michigan Central
70I4 7OI4
704 704 704 704 •70
1,000 684J'nel.''. 84 4 Jan 11 664 Jau 8434 Oct
75
68 4 6334 Minneapolis <& St. Louis.
704 704
95
•90
•90
•90
93 4 934 •90
J 00
95
95
Do pref
95
90 Apr 27 1004 Jan 3 86 Jau 106 Oct
934 934
•156 158 *156 158
50j l414Jan 4 164 Mai 24 89 4 Jan 145 Deo
155 158 Minn. S. P. <fe S. S. Mane.
158 159
158 158 *156 158
•17241754 •172 4 175 4 174»8 17434 17441744 1744 1744 17441744
500 104 May
Do pref
l8334Jaull 143 Jan 173 Deo
35 le 353(,
35
35 4
8,100 29 May 2 40=8 Jan '^'A 24 May 39 4 Nov
354 354 3434 354 344 3434
o3'4 34 4 Mo. Kansas & Texas
•69
*6S
70
70
1,415 644 Apr 27 74''8 Jaul8 664 May 73
6934 69 '1
Do pref
684 694 68 4 68 4 68 4 6878
Aug
97
27,100 85 4 May ' IO634 Jan 20 94 4 May 11076 Mar
974 96 4 98 14 98
9334
964 974 96 4 97
954 96 >4 Alissouri Pacific
•142 145 •142 145 *142 14,"
*14:i
145 •l42 146
Chatt. <& St. Louis
133 May 3 149 4 Jan 12 137 Jau 168 Apr
142 145
Nash.
"800 36 Apr 2 41 Marll 33 4 May 45 Jan
•384 3938 •38
39 4 •38
3934 '38
at.of Mex, non-oum.pf
38
394
384 38 4 38
•19 4 21
*HtV 21
19 21
"19
•18
Do 2d pref
19=8 Mar
21
21
21
1734 J'ne 24 4 Jaxi
2134 t"ob24
140 14(i7j 139=8 14138 140 142 4 1394140 4 138413934 13841394 N. Y. Central <fe Hudson.
27^00 130,.jMay 2 156 '4 Jan 8 13634 May 10734 Mar
70
69 4 69 '(
09
10,700 59 Mai " 73 4 Apr 17 42 Jau 76 4 Deo
69
70
714 684 707, §8
N. Y. Clue, & St. Louis.
714
69
•115 118 •11.=. 118
•115 118
115 118 *115 118
Do Istpref
111 April 12078 Jau 27 114 J'ly 1224 Jan
llo 118
•864 88 4
'88
88
88
88 91
May 3 9134 Jau 9 74 May 95 Deo
91
Do 2d pref
88
91
88
1,4 )0 80
88
•196 197 4 196 196
'19.5
602 5193 J'uel5 204 7g J an 19 im\ Den 5216 Sep
196 196
1974 19541974 n93 ISW N. Y. N. Haven <fe Hartf
51I4 5138
61
olSg
Sl'g
4h3^ 604
513.,
60
N. Y. Ontario & Western. 11,830 4334 May 2 57'4 Jau'.i.
614
4038 Jau 64
484 494
Mar
88 14 883(
88
884 88 4 89 4 88
15,550 81 Feb
88
87
8834
87
9.1 4 Feb
1
884 Norfolk <& Western
76 May 884 Mai
•90
914 ?904 90 4 90
Do adjustment pref.
15 89 4 Apr 12 96 Jan 6 91 4 Feb 96 Aug
914 90
914 90
914 •90
914
210 21068 209421234 211 214
209 211
203 20934 20234 207 Northern Pacific
45,427 1794 May 2 23.' 4 Feb 14 165 Apr 216 4 Aug
13841384 137 138-'4 138 139
134 138 PaoiHo Coast Co
13734 13734 '136 138
Jan 10 112 J'uo 5 784 Jain 109 4 Oct
1,2 00 103
•100 108 '100 lus
100 108
100 100
100 100 *100 108
Do Istpref
105 Jau
106 Jau 29 100 Jan '08 Feb
•130 135 •130 l;-!5
130 136 130 136 *130 136
130 135
Do 2d pref
1054 Janlo 135 May 8, 85 Jau .09 Oct
13234 i;i338 13234 134 14 13378 135 4 133 4134 4 1323, 13376 132 41314 Pennsylvania
191,767 131 May23 l47 4Jan2.l! 131 4 May 148 Aug
•39
40
3914 39I4
41 43 Peoria & Eastern
40
40
41
40
41
900 33 Apr28 4()S; Jan 151 27 Jan 4334 Apr
41
82
82
837g 844
83 4 83
83 4 81
Pittsb. Cln. Chic, db St. L.
82
83
1,30J 75 May
87 Jan 24' 70 May I8734 Mar
10% 112
105 112
106 112
lOS 112
Da pref..'
loo May 4 108 4 Jau 2^ 105 Feb 112 Mat
14l34l44'f 140 '4 14.<i4 14934 1434 1404142
132 1404 13141:5634 11 eadlng
940,700 112 May 2 ^164 Jan -3 ix79 Jun 14334 Nov
"90
92
9<;
92 4 «90
92 4 92
92
Ist pret
200 89 4 Mar 1 96 Jau 22 90 May "'' hep
92
92
•96
'96 4 98
98
964 96 4 94
964
96
2d pref
500 90 Apr 30 10,; Jau 20I 84 Jan 10
96
Nov
26 '(
26
2534 26 4
4 '8 25 4
26
26
26 4 2534
18,030 2338 Jan 3 2 .'g Apr 2^ 2 134 i>ec 37 7e Jan
244 243. Rock Island Company
2
*65
6534 (U)
65Vi 66
657,
65
4,12.-)
(!5
64 4 651.
Do pref
62 4 64
61 4 Jan 4 68=BMar3i
60 4 Nov 85 Jan
oj
,
•66 4 73 1< •66 4 734
70
70
20,1 00
73 4 66 4 731. 0:66 4 66 4 St. L.&s.Ifr., 1st pref
J''eb20 723^ Apr 31 67
Doc 814 Mar
•4634 473* •464 4 7
47
4534
Do 2d pref
46 4 464
id
46
45
500 41 May 2 614F(;b (.! 45 Doc " '4Mai
73'
224 231^ •224 23 4 23
23',
224 23 4 2^34 22
2134 22
St. Louis Southwestern..
1,100 20 4 May 2 274 Jan 19 20 May 27 4 Jaa
•643,
5434 5434
5434 543,
0'44
53 -4 54
55
Do prof
700 4334 May 2 61 Jan 15 55 Nov 66 =8 Apr
65 4 6'iH
65 Ih 66 4
653, 664
65 4 66
64 4 OS's
344 65 4 Sonthern Pacific Co
54,300 01 May 2 72 78 Jan 2v; 5734 May 72 % Feb
•1191411934 11934 11934 1193411934 1193.1 11934 1197ell94 119', 120
Do pref
560 U7 Keb2K 120 4J'no 0; 11534 Jan 122 4 Doo
3734 3,-3f
38
384 38
3838
3708 38 4
3534 370b
36 4 374 Southernv.tr. cfs. stmped 27,710 35 May 2 4.'7s Jau20' 23 May 38 Sop
99
99
yj
99
99
99
0938 99<8
99
99
99
Do pref.
do
1,310 9 7 '4 May 2 103 Jau 10; 95 Apr 102 4 Sep
34I4 343^
33S8 3t4
•3334 34 '4
33
33 4
3134 32 4 I'^exas & Pacific
3^4 33
8,200 28 May 2 39-'8 Jan24| 2934 Apr ti.
41 Mac
•127 130 127 130 127 130
12934 12*34 127
130
lU6 41''-'6 4 .h ird Avenue (N. Y.)...
h
200 r.;5 Apr 27 rl39>i Jan 17j 120 Dec 141 Dee
-33I4 334
33
33 4
33
334 33 S, 3338 33
334 32 4 334 Toledo Railways & Light
100 29 4Apr23 36 Jan 22 224 Jan 374 Apr
.,
4
•29 4 30 4
294 304
294 294 294 29 4 29 4 2934
29
29 4 ToL St. L. & W. V. tr. ctfs
1,300 29 J'iiel6 404 Jan 19 34 4 May 43 J4 Apr
48
4834
48
48
48
4S
474 477b 47
48
Do pref. vot. tr. ctfs.
48
48
800 47 J'ueUl 6978 Jau 19! 61 34 Jau 66 Apt
!)0
'lO^-a
*l(ivi.^l()2'>.

90

91

90^

91

l(l2-'4 10v:'4

148

14

1(1?.^ 1(13

147

Hi

147

^;

1481-.,

9038
>i'.-\\
10:^34 103 4

1464147

88 7„ 90 4

10234 102
145 146

884 89 4

1023^ 103

'4

144^8

14.">4

Do pief
Atlantic Coast Lino

Fe

RK.

'-

'-

IW

'

m\

70

.

-5

664

464

544

W

.

BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Bxd

KEW

Aslor
Uatlery Park
Uoweryll ..
l(utcir8<S; Dr
Century
Chase
1J

Chatham

650

ir-A-,

320
170
176

180
185

700
300

Bid

Ask

4100

•1250

Citizens' Ctrl 140

215
540
750
135
335

ChelNoaKxcl, 180
t

Banks
Chemical

yoiiK

Aetna
205
American ... 510
Anier Kxch
250

•

Ask

City
Coal & Iron.
Colonial 1j ...
Ciilnmbiali ..

264
240
600
426

(;omiiH'rce...

1:185

Cou.solidated 160
C'rnKxcligol 350
Oiscounlll ... 150
Kasl Kiver.. 150
Fidelltyll ....
Fifth Av(!li..

270

U8.i

170

Jiid

Itaiiks
Fifth
First

4 Garlield
tlorman Amij 155
(ierinau Exlj 410
(iormauial]

160

200
3W00 42011

Ask

340
72S 7.50
Ist N't&Day 500
535
14thStreetl|. 200
Fourth
f2l<i34
Gallatin
100
375

..

(ireenwich

\\

Hamiltoiil)

..

>00
166

Interboroll.. 155

160

250
215
50(t
Liberty
520
Lincoln
1400 1600
Manliattanlj. 290
:i0()
240

Irving

JBtfersonI]... 205

MarkotAFul 265

i:75

Mechanics'

260

275

160
215

170
255
180
175

Mecli

.'ilM)

295
210
490

Jiid
Hanks
Ask
Bid Ask
RiuikH
Imp & Trad. bib 600
Metropolis n.
400

310

<fc

.

Trail

.Mercautilo

..

Morch Kxch. 170

Motropoli'nil 170
MtMorrisli.. 235

180

300
Nassaiill
202 212
New Amster 400 125
New York Co 1200
N Y Nat Ex. 200 .'05
New York. .. 305 115
360
19lh Wardli. .i5l)
295
North ,\mcr. 2S5
ii;o
Northern
150

Mdtuani

240

Park

,

Phenix

185

PlaKall

,

Prod Exchli

570
170

250
365
700
2000
Statoll
34th Street.. 205
12th Wardii 350
23d Wardll.. 190
Hiversidel]

Atlc

260
400

300

People'sll

.,

200
600
18U
280

Seaboard
econd

•.!0
Hanover
.Morcliiiiits'..
65
Orieiitjini
260
270
Bid and asktid prices; no sales were made on tins day. « Le.ss than 100 sliares. < Kxriglils. i| .state oauK.s. a Ulx-divideud and rights.
Sale at Stock Excli.-inge or at auction this week,
s Trust Co. ccrtiHcates.
h Assessm'eut paid,
n .Sold at private sale at tliis once.
1

Bid

Banks
PacifioT]

bNewBlook.

Record— Concluded— Page

Stock

1362

ST0CSe~B10HSST AND LOWK8T SALE PRICKS
tatvrAay
June y

June

Wednesday
June 13

Turadav

JUondati

June 12

1

Thuredav
June 14

Range

STOCKS

NEW YORK

Friday
June lo

[Vol. lxxxu.

2

tor Year JWUti
Oasie 01 lUU-ahare LoU

'/n

STOCK

EXCHANGE

Lowest

Kange for I'reviout
YearClUOoJ

Highest

Lowest

tlU

i'oO'i^

isV)" ib'i
»4»,
<.)4'4

•63
•73

CS S

74\

65
72-><

114V

94

14

1137gll4

114

XbiK iViJ'gisi"
94% 94I4 94
•

6414

64

71

C5 1,
73 '4

114

7234

12

'4

64 1,

71I2

64 \
73

148
94
63
72

113

1 CO-V,

941.^

14714 iVii'v

«95%
63
72

63
72

11312

21
491s

21

•40
•25
25
52

•43

21
20;'4
48=8 491.
»42Hi 44

21

4K% 49 14

21

2012 21
48I4 4812

43

43

41% 42

I912

I8I2

*18

Id's

•1812

•25

42
20
25
62

26
26 12 25 12
60'2 52 12

40

42

2G
•25 Hi

2434

40
24

43

40
25

•2434
5034

2012

20",

47% 48
41 Hi 41%

I912

43
26
26

18
39

1734

3812

17%

39

2334

2334

233,

25

25

24%

Do

2.225 109

Transit.

73%
47%

44
17'',

Do pref

Wabash

,

Jl '5334

May; 160

113

Jail

15134 Dc<j

2j

95

Si

Xov

101=» Keb

1,0011
2,46-:

.\pr2ii

5i)

Jan

98

21

Si

18

Apr 20 93 .. Jan 17
84% Apr 19 8712 Jan 13
3,600 19 Apr 28 26 12 Jan 24
55

40% Jan

3

53'>pFeb27

1,40(1

3

3

44%

J:Ui

2

.\pr28

4
2134 Feb 6
4s%Feb 6
I'lie

700

16

:;i)o

3(>

.May 2

200

Istpref

Do 2d pref
Wisconsin Central

233<
247,

Jan 12212 Apr

241

4.400

pref

Western Maryland
WheeUDKA Lake Erie..

Do

42

Jan 22 105

12214

449,900 138s1m'»)' 2 i()0i2 Jan
1.350 Oli-j.May 2 99 '4 Jan

United Rysof St Lou. prel

Do

May

'4

I

Paciac...
pref

UnitRysInr'tof S.inFrau

()3

20 14 20 s

47
•42

Union

957,

851.

4ev4
4234
•IHHj

Twin City Rapid
Do pref

Highest

I

I

116'ell5'«

114

114»8

22
23

Apr27 29 -2 Feb 6

1.200
2,100

Jan 17
Jan 15

33
44% Apr 28 64
iSlay

2

Jan

92
94
85

64% Jan
80
17

J'ly

J'ne

Si

Si

Dec
Dec

Nov

May 24% sen

Si

.May 48
Feb
Nov 30 Dec
May 1934 .Mar
May 48 Feb
May 2-<%Mar
Apr 33i.j.\ug

37
27
15

36
20
20
45

Do pref
52>s
50
503,
60>4 60 12
Jan 64 Si Oct
50 Hi
50
laaustiial <3^ Miscell
*240 260 •240 260
'240 260
*240 260 ?240 240
•240 260
!S240 J'nel4 250 Mar 5 }236 Jan ?250 Feb
Adams Express
34
223.
22
22 Hi 22=^
lU.s-Clialuier.s
22
223m
2112 22
2118 21%,
21% 213,
13 May 2414 Dec
7,200 19 -May 2 2739 Jan 24
•68
59
Do pre!
5812 5812
May 3 67 Jan 24 4tJS2 Mav 68 Feb
571, 591-?
57 12 57 12
5Si<^
58
57% 57 1«
(iOO 52
1073.( 108 Vi 107*8 1083,
10778 10914 10712 10S3.
105 1073, 104i2l06'« AmalgamatedCopper
393,510 96 May 4 118'4 ;-ebi3 70 Jan 11134 Deo
2684 'i^^'i • •26=8 ^^^^ «27
27
2612 27'5 26»fl 263,
2612 2738 Amer Agncult Chemical.
20 Jan 29% Apr
1,275 21% May 2 34 '8 Jan 2,
*94ia
*94i2
•9412
*92i2
Do pref
*93
94
94
100 93 Apt 23 102 Jan 25 891* Feb 95 A ug
94
27
27
20i«May 2 35 Jan 6 23 Xov 35 Dec
26;'i
26
26
2H
26
26
24% 25% Amer Beet Sugar
96^4
261s
1 ,000
•
87^4 *
Do prel
87=4
85 Jan 22 SOiaJaii 8 77 Jan 8.1 Dec
8734 *----• 87^4 '
S73, *
873^
41 13 41
4m! 4ll2 41^8 .4058 41
41
39^4 403,
3834 3934 American Car & Foandry
31 May 43=s Apr
7,40(1 34% May 2 47 -i Jan 24
102 102'. '101 102
Do prel
101
*101 lolM 101 101
102 *101 102
700 99 4, Jan 4 105 J an 24 cyiU Jan 104 Si .Apr
SB's 34
33
33 14 33%
28 May 2 44i4Jaull 2734 J'ly 40 Is Deo
34 '4
32
32 14 American Cotton Oil
3212 33
32
3314
8,600
*91
90i2Ma>19 95 Jan 10! 89 I4 J'ly 97 Feb
Do pref
91 95
•91
95
95
*9l
95
1226' 220' •220 230
220 230
2'24
10 2i5 Apr26 249 la Jan 26 i-209S2Jau 246 Feb
230 *226 230 •220 230 American Express
9',
•914 10
American Gras.s Twine ..
10
7% May 2 11'4 Jaij 15
434 -Aug 14 Jan
9
9
8% 8%
900
•9'>i
9
9%
6I2
6I2
Amer Hide & Leather
*6
6 J'nel3 10 Jan 26
6^ •6
6>4
6 J'ne 11% Dec
7
800
82
•32
32
De pret
•32
May 2 43 Jau2j| 29%iJct 55% Mar
•31
313« 313.
33
32 V!
31 12
32
50(1 28
32
64
04^4
63 I4 64 14
0318 64
62% 6312 6 134 62% American Ice Securities. 6,180 35i4Jau 2 65% .MaylO 2434 J'ly 36 Dec
63% 64
22
24'4
2234 2234 22
American Linseed
23 ^^ >23
*2 2
21%
23
500 17% May 7 29% Jan 22 15 14 Jan 23 Dec
23
•43^4 45
42 45 *42 45 *42 43 I2 41% 23
Do prel
•43
38^8 May 4 5378 Jan 2U 36 Jan 48 % Apr
45
44
70
Hj
7134 73 14
7II2
American Jjooomotlve... 64',33l3 53 J4 May 2 78 Si Jan 4! 33 Jan 76I4 Dec
70l2 72
69 12
69 12 71
72
71
•115
Do pref
•114 116
*114l2ll5'2 115 117
MI5 117
115 115
200 110 lo May 2 120%Jaul6 10334 Jan 122-4 Apr
4% 4''e *4i2 5
-412
Amer. Malt. ctfs. of dep...
5 14 Not
434
4''^J'ne 9
6 "8 Apr
•434
.
6
5 Dec
5
200
„4%
28^4 28^4
Do pref. ctfs. of dep
27 28 •2712 28
28
28
28
28
28
400 25 Jan 8 2978..i.pr 5 24 '4 Dec 26 Not
28
•46
4vj
4612 4612
Amer Pneumatic Service 1,201) 34i2May 3 0434 Apr 16
4'?
45
46
45
43
43
4412
46
8O34 80^4 •78
78 81
Do pruf
76 80
80
80
600 78 MaylO 8.si4Aprl2
«l
•9938 99 '8 •99I2IOO
*99 100%
101-4 Jan IS 9714 Sep 02 Not
99% 99 '8 •99 100 ij 99 100 Amer Smelters Sec prel B
100 x99 78FeU
155'4l56i4 15458 156,
15534 157 "2 154 12 156'" I52I2I55
15238 15518 Amer. Smelt'g & Keflu'g. 85.300 138>2ila} - 174 Jan 18 7934 Jan 17038 Deo
119% 119^ II9I4 llilVi 119l2ll9'2 Il9l2ll9''4 119 1195f ^1171211712
Do pref
Ai)r28 130 Jan 12: 111% Jan 137 Dec
2,450 115
•210 240
210 240 *2l0 240
*210 240
210 240 •207 la 240 American Snuil
205 May 3 220 Jau25; 163 May 250 Not
1023gMay 3 107 Jan-.:6 99 Jan 110 Dec
Do pref
103 110
101%110
*iV^ 11*', '103 110, 103 110 •103 110
10I2
• 12
I2I4 12-^4 1134 1212 1134 121, American Steel Foundr's.
1]34 12'ii •12
121,
6% J'ly 18% Mar
100 10 Apr30 15i4-Janl7
•461q 47'2 M6I2 48,
4612 47I4
Do pref
45
40 May 2 53% Jan 17, 351* J'ne 67 % Apr
45
45% 47
46
46
1 ,201)
ISSHiiStS-^ 135 "2 136 4 135% 13379 1^5
134% 13534 13234 1353^ American Sugar Relimng 16,560 1271.1 May 2 157 Jan 8 130 May 154% Dec
136
•134 138
'134
Do pref
•134 136
132 Apr 30 140 Jan 19: 133 May 141 Aug
138 134 138 *133 1S8
•138 140
137 140
'137 140,
'139 140
'i3o" iio '137 140 Amer. Teleph. & Teleg..
135 Apr28 144% Jan 19 131 Dec 148% Jan
10312103''^ 103i2l03> 10418 104% 10314104,
ig May 2 109
Jan 22 917e Jan 109% Dec
102% 103% a;ioi 10II2 Amer. Tobao. (new), pref.
2,5911 100
40I4 41
40
40^4
3934 40>
48 Jan
3334 May
20=8 Jan 47 % Not
39% 40 "4 38% 391a 3734 38-2 American Woolen
13,46
106=12 106 "2 '106
•10512 107
Do pref
107^ 106 107
103 Jan 3 110*8 Jan 24 93 Jan 108% Mar
106 lOrt
•IO514 106
220
267^26!)
26712 270 "v 26734 271
261% 267% 259 264 Anaconda Copper
267 269
lOOSiMay 295 Dec
110,70U 2231a May 4 300 Feb 1
"125 l;<5
-120 130
'120 130
•120 130
'120 ISO
•120 130
119 Apr 27 178 Jan .:3 175 Dec x'215 Feb
BroolUyn Union eas.
'1634 18
"30" 14i2Miir-0 2134 Apr 14 1078 Jan 22 Si Deo
1634 13
•1634 18
runsw. Dock<fe O.Imp't
16% 16ii
16
1634 16'»4
16
•65
55 63 55 63 *55 63 55 63 *55 63 Buttericli Co
Aprlti 70 May
4')
60 Dec 60 % Jan
423 42 H;
42I2 42';e
42
42 12
40% 41% 40I4 41% / central Leather
40 Sep 47% Oct
42
42
3I66O 38% May 2 49 '8 Jan
»103 104.
102 105 '102 "4 104 101l2l03'2 102 14 I0214 \J Do pret
100'2Apr28 107% J an 24 102 Si Nov 10579 Not
102 103
100
66
67^4
5434 58%
56% 59
63% 56% 62% 65 Colorado Fuel & Iron
38 May 59 Mar
5578 57I4
109,735 40%.May 2 83 'a .Tan
96
*92i2l00
*92i2ll0,
95
*92i2l00
Do pref
*92'2l09
*92i2l00
100 95 Jan 15 112i2Jan -^9 80 Aug 105 Mar
"2
*19i3 2012 §1912
20
20 20
18 20
20
17 May 2 26 la Jan 31
1134 May 20
Dec
IS"* 18% OoL & Hock. Coal <fe Iron.
5()()
20
143I4
13834
138 14 139^4 13814 140
I3712I4O
139 1407, 13918 140 Consolidated Gas (N. Y.). 21.410 130%Apr27 I8I34 Jau23 175 Nov 214 Mar
23I2
227e 23%
23
2212 22%
23
23
2234 23%
22% 2276 Corn Products Refg
7,960 21%.May 2 28 Apr
81^ 82^ 82
82
82
Do pref
82
82,
83
82
82
83 'e
82
3,300 74 Sj May 2 8534 Apr
02^ 6I34 62'>> 62% 62% 61
693, 61
Jau30 6553 May
. 62
3:34 79 Jan
54 Is Dec
5334 60% DlstUlers Securit's Corp. 16,070 61
61^4
•
•
86
HUectrlo Storage Battery.
81 34 Jan 3 87 ig Jan 19 76 May 89 Si Feb
86 *
86 *
86
86
86
161 161
16018 165., •160 170
160 160 •146 170 '13434 170 Federal Mining & Smelt'g
500 138 Jan 4 199 Jan 22 60 Jan 145 Not
-^
97-2 08%
98''4
97
11278 Jan 22
98^8
Do pref
98
95% 96% •94
75 Jan 110% Not
98
98*4
98
2,165 92% May
17 1 '8 172 V 1717gl72;'> 171 "2 17214 a;i69
18 1 14 an
169 May 192 Mar
169% 167 169% 167 167% General Electric
3,900 161 12 May
20=2 20''^
26 '4 Jan 15 ISifeJ'ne 25>4Deo
20 1« 20^ 20
1934 20
21
18 May
20
19% 19=8 International Paper. II II
20
800
*86
*85i2 86% a;8334 8334
- 86^ 86% 86% 86
86 12
Do pref
86
86
400 82 la Mario 90 Jan 13 76 ^ Feb 88 'a Leo
*60
59'2 50
59^-'
50 55
67
International Power
67
50
66
61
56
500 50 Apr 30 ,j;95 Jan 29 48 Oct 100 Feb
64
55
•53
•53
55
51% 53
55
51
26 Dec 40% Feb
52
65
51 Internal Steam Pump
1,000 28 Jan 15 60 May
8834 88
8612 89
87
85
•85% 86%
Do pref
85
86
87 "a
800 79 Jan 11 92 May 14 78 May 88% Apr
62I4 62 "a
62% 621, 62 14 61% 62 "4 61% 61% 61% 6I34 Knickeroocker lce( Chic;
62
2,600 59 Mar 8 68 Jan 15 10 Jan ti-i Dei».
6734 68
6734 67t4
6714 67 14
D "4 D »
65% 66 National Biscuit
66
66
67
52 Aug 69% Dec
„.
67
1,200 62 May 2 71% Feb
Do pref
•115^116'b 11314115% 116 116 2ll7l4ll7'4 115 118
115 118
150 113 -2 Jan 5 11814 Feb lu 110 Aug 120^4 Mar
lb
I6I2 16*2
I6I1 1612
16
17% 17% 17
12 May 2 18 Jan 15 11 Aug 3 1 % Apr
1634 17
17% Nat Enam6lmg<6; Stamp'
5,600
•85
87I2 8712 -86
88
85 88,
•85
91
*84
Do pref
SO Aug 94 Apr
90
91
250 85 Marl7 88 "a Mar
7612 76 k.
76i'> 76 T^
7612 77
76
76
a;74
76
743.. National Lead
76
7,000 66 May 2 95 '8 Jan 19 24i4Jau 89 S» Dec
100 Vj 100^2 101%10!'l-i 101 101
100%100i2
Do prel
10034 100^4 100% 101
1,345 lOOiiJ'ne 7 106i4Jau2- 97=8 Jan 11 5 Si Dec
143 14 145 'e 146i4l47''e 145 145^8 14578 145 7g 144 145% 14512145% New York Air Brake
140 May I6834 Not
2,712 135 May 2 16334 Jan
97J4
97 12 97I1,
97^
97
9534 97
97 /s
97
95% 9612 North American Co., new 2,300 93 May 2 107 Jan 12 95=8 ^o^ 107 Apr
97
•38»2 4U'-4 38
39H2
3712 3912
3612 37%
51% Jan 19 33 May 5334 Jjeo
36
38
38
Facihc Mail
37
1,800 34 May
9i\ 92
92 14 93
•92
9314 92
93
eop. Ga8-L.<fc C. (Ghic.)
97i4May 115% Apr
93 "2 91
93
93
3,500 8912 Apr 2s 103 Jan
'^
•1312 14
1334 14
*13l2 14^4
14
14
14
14
17=8Mai-31 1218 J'ly 2 1 May
13% 13 7j Pittsburgh Coal Co
1,350 13i4May
•52
56
-52
•52
52 56
•52
56
52% 52^8
Do pref
56,
56
100 5278 J'uel4 62 la Jan 19 45 ig J'ly 80i4May
62
52*4
5336
62
5234 53
64 '8 Jan 24 33 Sj Jan 5834 Dec
51 12 62
50% 511a 49
50 12 Pressed Steel Car
7,700 43 ^Uay
*98i2
105 Feb 1 87 Feb 101 S; Oct
99
99
*98
99I2
99
Do prel
981a 99I2 9812 9911! 98
100 95 May
•228 234
"28
228 230 §225 225
24734 Jan 15 230 May 258 Aug
230
228 230
228 228 Pullman Company
115 2 19 J4 May
64^8 55
5414 55
62^4 Jan 15 30 May 63 Si Dec
5512 53
54
51% 52
ail way Steel Spring.
5434
51% 52
5,100 44 May
•10012 105
10112105
IOII2IOII2 9934 105
-101 105% •101 105% t>
107 Jan 24
^Do prel
93 Jan 106 Not
100 99 12 May
2934 3UI4
3OI4 3 1 '4
39 Jan 12 15 Jan 3618 Dec
3012 31
29% 30 "2 29 14 293, BepubUc Iron & Steel .. 16,890 22I4 May
30% 30%
105 105I4 104^4 105
110 Sj Jan 9 67 Jan 108 Dec
104 I04I2 105 105% 104 1043, 2:9934 100
Do pref
4,800 91 May
7834 79
78 14 78^4
97 Jan 12 60 Jan 118% Feb
78"
79
79
76
77
loss-Sheffield St. & Iron
78
76
76
2,600 69 12 May
•108 115
108 115
108 115
1U8 115 108 115
'108 115
Do pref
110 Apr20 U3 Apr 3 lOO Jan 130 Feb
•166 156
155% 155% I5512I57I2 166 156
155 155
Jan 2 xi-lio Jan 12 68 Jian 148 Dec
•154%156 Tenn. Coal, Iron & BR...
ilo'JiJ 129
»5
86^2
"85
•83
86
86
86
85
•82
83
84 14 Texas Pacific Land Trust
81
1,300 60 May 2 86iaJ'ue 9 3712 Jan 66 Leo
834
*8i2
s
812 9
"8% 9
9
9
8 May 2 151, Jan 19
OSj
8=8 J'ue 15 % Oct
8% 8% I [nion Bag & Paper
900
72
72
•72
?73
72
74
72
•71
73,
Do prel
70 Apr il 84 Jan 18 68 Ian 823, Deo
72% 73
73
^
77
61>2 Sl^i
51% 51I4 51% 51
51
43i2May 2 53 Jan 17 1979 Jan 48 14 Deo
51
61 14
4934 60% U. S. Cast 1. Pipe & Foun.
501a
5,700
•93
91 93 93 95 •93 94*2 •93 95
95
Do pref
92% 9238
100 91 May 2 9ti78 Jan 24 7914 Jan 9.734 Apr
»110 120
110 115
110 120
110 120 •110 120 110 119
United States Express...
109 May 1 l38iaJau26 illO Dec 134 Fob
87I2
88
87 89
88
»7
94 Si Jan 2u 77 Jan 98 Si Mar
87 12
87% 8(% 86% 87 U 8 Realty & Improve'nt 1,200 84 Mar
87
•3734 393,
3912
39 14 40%
38
38% 39 14 3734 39
S Reduction <fc Refln'g
18 Feb 40% Apr
37
3734 U
4,700 24 Mar 1 40^8 J 'ue
82 la 82'<i
8II2 82
83
83% 80
79
80
84 J'ue 6 35 Jan 7314 Aug
80
Do prei
78% 80
3,400 60 Miir2
61
51
61
51
5114 511.
50
51
51
61
3334 Jan
58% Sep
49% 501* United States Rubber
4,300 48% May 2 58 la Jan 2
109 109
10834 109 '4 109 Sj 1091;. 109
109 10934 108l2l083l
109
Do Istpref
700 105 la May 2 xiib Jan 15 98% Jan US Si Apr
80
79 81 *78 81
so
80
80
78
78
May 2 cS7 >2 Jan 15 75 Nov 8334 Dec
Do 2d pref
78% 78%
501) 75
40I2 41
4034 411,
46I4 Jan20 24%.May 43 14 Deo
40'
383, 40%
40% 41
40
38 18 8938 United States Steel
256.800 36 14 May 2
106 106 -i 10578 10ti% 105% 106% 105 105' 104%10o3s 104%105i2
Do pref
47,920 102 May 2 II314 Jan 20 9034 May 107 Deo
40I4 41
4018 4114
40
4276
40% 41 7(. 41
41
40
2834 Sep 58% Dec
42 14 Virginia-Carolina Chem.. 10,745 36 May 2 58 Jan
11034 111
109 109 ail'2llli2 110 110
109 14 110
pref
109% 110
Do
350 105 la May 2 117 Si Jan 2 103 "8 May 118% Deo
4412 441.J •4314 45
4334 433,
44
45
44
45
42
Virginia Iron Coal &
43
1,110 38 May 2 5 o Si J an 2 4 36 J'ue 52% Feb
•286 295
285 295
286 286
285% 285 14 285 295 i 28434 285% VV/ ells Fargo & Co.
385 233 Mar23 286 J'nel2 ^226 Si Dec 260 Feb
«2»4 92^4
93
93
92% 92% 92% 93
927e 93
93
Mar20 94% Jan 26 92 Jan 95% J'ne
93
est'n Union Tele'gph
2, 00 J ,r91
169 159
159 163
161 161
166 161
15734 160 14 156 164
West'gh'seEl <& M f g assen
300 153 May 2 176 Jan 6 152 May 184 Apr
•
184
184
184
184
184
Do Istpref
185
185 Apr 8 188 Jan 22 187 Si Dec 197 Apt
"ti

,

>..

'

»i..

6

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"12

"i!

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.

1

1^4

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(

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C

I

BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Banks

Bid

Onion Exchll 210
United
107
V S Exclia'eH 125
Wafih,H'hte1i 225
VestSidell.. 600
YorkviUel).. 400

220
113
130

N. T.

150
395
150
.Mauutactrs'. 390

Dealers'TI

Firm

......

-

'285

Nassau
Nat City
North SideH
ProspectPkT
Terminal
150

260
300
400
145

Unionll

215

..Bid and asked prices; no
Stock Exchange

Trust Cos.

Bid

Atk

140

295
275
165
ISO
235

Fulton

CITY

Bankers' Tr. 500
Bowl'gGreen 230
BroadwayTr. 164
Central Tr'st 2050
Colonial

395
265

Columbia
Cominonw'th 90
Empire
310
Equitable Tr
K'arni

on

Lo

<fc

"11^

this day. i Less than 1 00 shares.
or at auction thia week.
stock dividend.

sales

Trust Co's
Fifth Ave Tr

Home BankTI

BBOOKLTN

•f Sale at

Atk

BEOOKLTW

Mechanicsll

BoronghTl.... 150
Broad wayl).. too
Brooklyuli .. 140

Bid

Ba4iks

As/c

Kx

630
236
168
2150
405
276
100

U5
515
1425

Guaranty Tr
Guardian Tr
Knick 'rb'k'r

Law T

I <fcTr

Lincoln Tr...

Bid

Ask

565
325
520
225 236
1200
300 310
600 610

Manhattan

.. 475
Mercantile ..
Metropolitan i90
MortonTrusi 825

850
600
850

Mutual
MutuAUlance >15

132 Si
220

495

Bid

Ask

1000
720
StandardTr't 410
TitleGUifeTr 610
Tr Co of Am. 760
Union Trust •1390
USMtg&Tr 450
Unit States 1326

1040
730
440
o30

VanN'denTr

330

Washington 400
•255
Windsor

270

Trust Co's

N y Ltte&Tr

New York Tr

765
1410
1375

Trust Co'a

170
260
350
Hamilton
350
Home
190
190
Jenkins
Kings Co
450
L IslL&Tr. 290
255
Nassau
345
People's
Citizens'

Ex-rights.

Trust Co.

Ask
415
180

Flatbush
Franklin

200

310

Williamsb'z. 228

New

6
stock,
c Kx-dlvidend and rights.
oertificates. ^ Banks marked with a p^uragraph (t) are State

^

s

Bid

BROOKLYN
Brooklyn Tr 400

b»uk«.

J
S

J

1

New York

Exchange— end

Stock

i^'

BONDS

O
U
U
U
U
U
U
U
U
U

Week's

I^rice

STOCK KXOHA.VGK
Wkkk Kndini; junr 15

Jvne 15

S 28 cousolre<jistere(l.(ilf)3( Q-J

Hial'
T'ne'Oi

IjOw Hia>'
lOHiglOH^e.

3 2s cousol coui)ou

103^4 1041., lt)3k'

J'lie'ii'-

11)3
l()4''.
UI2:<4 ll):!'f

til'JSI
/cl9l.-

S 33 repristeied
telDlf y-1S 3s coupon
S 33 rey- snuiU boiuls.. I'JL^ y-i
S 3s con sniiill Ootids.. /ili)l.'rejrlstereil

/il9()';
/iliiO'.
19'J;i

S 4s coupon

M:l\'Ol

May'm

1

't

S 4s

O'ja.i

1U2'b 103'- 102^4
107
\0'J.

>4

104'<2

"-i

02

1

Q-F
S 48 registered
VJ2i
S 4s coupon
Philippine islands 4s. 1914-34 q-F

103

110

Foreicn <M>verii!nciit
Japanese Govt 6s sterl'g.l9n
2(1

series

191i

(is

£ loan i^a ctls lull p(l.l9'26
'2d series 4 i^s ctls lull paid
£ loan 4s ctfs full paid. .1931
Repnbol Cuba 5s exteu
or .Mexico s
Gold 4a of 1904
fci

I

g 58

debt..

AG
-V-O
FA

t

t

J-

t

J-J

t

i:105''4

ot l«9i' *<-J

1954 J-D

94'''b

A.labama class
Class B 5s
Class C 4s

A

190t;
lyot'

192i
Currency fundi US' 48
1924
Dist of Columbia 3-G5s
.191';
Louisiana new consol 4s.
North Carolina consol 4s.l91('
191;

68

So Carolina 4^128 20-40

993,
98'..
94'.,

1-2

931s
85I4

y3\
1053,
lOOSj

101

n

the

Apr

U

117

J-J

31

102^4 Oct
136i2J'ly

J-J

A-O

120 Mar'
go's Apr
95 1-2 Dec
9434 Mar'

Tenn new settlement 3s. .191: J-J
J-J

Vlrgixiia

*

95
20

22

20i4J'ne'

Railroai!

Alabama Cent
laba Midi Hee

Hee So Ry
At Coast Line

Albany & Susq 6ee Del & Hui

AUeglieny Valley AeePeuuKl

AUeg <& West See Butt B & 1
/il996 Q-J
Ann Arbor let K 4s
Atch T.& S Fe— Gen g 43.1995 A-O

1995 A-O
1955 J-D

Registered
Conv K 4s

Warrants

for 50-yr

conv

Adlusiiuent g 4s
Registered

4s..

/i.1995

?il995

1911

Series 1

W

Bruus<fe

Wl8tgug48

102

••'8

FA
FA
MS
M-S
J-J

A-O
A-O
M-N

..1938 J-J

01952 M-N
L.& N coll g 4s
8U Sp Oca & U gu g 4s 191)- J-J
Atlantic & Danv See South Ry
Aastin & N VV .See Sou Pacifii
Bait & Ohio prior 1 g 3 i2S.1925 J-J
Registered
/il925 y-J
Gold 4s
/11948 A-O
. .

96

95
102 14 102»B 151
lOO's May'Ob
10114
10l^ 2b7
lOli^j
1011^,
10
94=8
95
93

Sale

101='4

101^8 Sale

101

NoC

ST-aniped
A1996 M-N
Debentures 4s Series E.1907 F-A
Series F
1908 F-.iV
190'.- F-A
Series G
1910 FA
Series H

1913
Series K
East Okla Div 1st g 4s.. 1928
At! Jf nox & N See L & N
AUantic Coast 1st g 4s./tl952
Oliarles & Sav Ist g 78.. 1936
1st gold 6s.. 1934
Sav F &
1934
Ist gold 5s
Ala Mid 1st gn gold os ..1928

94a»

102

94'>4

Bale
95Hi
92^8 Sale

95
92^2

9S^

98=4

93

97

96'2

100

las-'s

114^2
Ill's
100 »4

94

,

98^4
10012

9812 10112

Sale

97»8

964 97

97
961a
94 J'ne'Od
103
103 12
101 4 101

93^4 95
103'4 Sale

1-,

yo^

91^8
97 12
9212
93
92i8J'ne'05
lOSisJ'ly'OS
109 Apr'OO
Oil's

F-A loe^s
Monon Riv Ist gu g
CenOhio R 1st cg4'<23..193u M-S 102 4

119i2Mar'04
97 May'UO

117'<

UO

99

Bat Creek & S -See Mich Cent
Beecli Creek >S'ee N Y C <fe H

66

9834 10212

13278 132't

114»8Nov'05
99i2Mar'06
94*2 24
94
98 May'06

y-J

&

9834

13278 Jan '00
11263 Jan '04

100 14

12

99 12

9214

9512

98

99 12

99

9312 97
93
95
101 I0512
100 12 103*2
go's 92
95'^4

99^8

90

93

100

97

Bellev&Car See Illinois Ceni
<fe Montauk
See Long 1
<fe West
see Atl Coast L

Bklyn
Bruns

aY&

Erie <S'ee Erie
R <& P gen g 53.. .1937
& West 1st g 4s gu..l998
C1& Mah Ist gu g5s
1943
Koch & Pitts 1st g 68. ..1921
Consol 1st g 6s
1922

Buttalo
Battalo
All

M-S

cfe

N

,S-ee

R

C

I

<fc

iS'ee

124

J-D

123>8

128 12 Feb '06

98
102'4

5s. ...1947 J-J

1946 J-J

10234

105i2l05»4 105»8
106^4

H6i2ll7»2

102',
105^4

Jan

'06

98 "2

Loui.s

Ry Colstcon

A
J J
J J

M N
F A
F

A

F A
F A
J J
J J
J J

A C

95

05

I2OH1I23
112 Sale
Ill
97

Si

119
111^4

113
99
90

98»-i

90

Sale

8(4

89

10234
1083,
10534 10534

Mar'06

91

95

May'Ol
112

119
109
113

121
II412

Apr'Ol)

99
90
88

88
9412 Apr'06
115i2Dec'05
1 5
Nov'Oa
1 1 5 12 Ang'05

93
11034
110^4
110^4

113
933,
99
80'2 93
75'2 91
94 12 94 12

1

ir68..19;!i
1

100
97
107

106
9834

107

100 J'ne'06
108 14 IO8I4
110 Fob '06
91'
Jl May'06
92
923, 9236J'n6'06
88
88
83
10312.
102 Mar'06
101
102 'e Apr '06
95 J'ue'OO

10814 Sale

'

9534
9334

953..

941a
9334

9334

87

Sale

87

89.'>4

"95'

"97"

109

Mar'9.'~

98

Mny'OO

,

A

A

ManUa Elco 1 st coll os. 953 M S
*No price ITrlday; latest price titaa
cfc

ice
97 Sale
106 '4
100

J J
J J

F

991.2

101
105

I>ll!SCl!:i.,l.,ANE()IJS

Street Knilwny
Brooklyn Rap Tr g 58
1945
1st refund conv g 4s
2002
BkCity l8t con 5s. 1916. 1941
Bk Q Co cfc S con gu g 58. 1941
Bklyn Uu El latg 4-58.1950
Stamped fjuar 4-5s
1950
Kings Co El Ist g 4s
1949
Stamped guar 4s
1949
Nassau Elec gu g 4s
1951
Conn Ry cfc L Ist cfc ret g 4 '28 '5
Stamped guar 4 '2a
1951
Deu Con Tr Co Ist g 58. ..193:;
Den 1'ram Co con g 6s. .1911
Det United 1st con g 4128.I93':
Havana Elec consol g 58.195'_'
19.',6
Inter-Met coU 4 48

124
128 12

124
127

,

week,

a Due Jan

d Due

Since
Janiiary I

Miyli

Low Htgli

108^4

.\ui;'Orj

128

Apr'O"

107

Le& Hn.l K ;;f-ugug5.s 1920
Leli & NS'ilks B Coal 5s. .191'.
r;191t
Con est guar4i2S
'N Y & Long Br gen g 4s 1041

Q-M
M-S

Registered
General sfold4i28
Resristered

193iJ

M-K

1992 VI1992 M-S
1940 J-J

1912
1915
1916
4s
1917
P48
1918
Chic R I cfc Pac RR 4s. .2002
Registered
2002
CoU trust gold 5s
1913
Bur Ced R cfc No 1st 5s.l906
Con Istcfccol trg58...1934
Registered
1934
CRIFcfeNW 1st gu 53.1921
M cfc St L Ist gu g 7s. .1927
Choc Ok cfc G gen g Sa .ol919
Cousol gold 5s
1952
Keokcfc DfsM l8t5s
1923
Ohic St: 1> & N O See 111 Cent

101
Min'OO

in

lOG"*

107

110':,

104

107
llO'g

12

107

"2

116
Sale

IU6I2 106
104 May'Ob
112
Fob'Ol
••

11414116
14 105
109
104 105
112- 112
10034 102 V»
9614 OG'*

96'»4 .Miiy'OO

9934

It

101i2isalt

103

1U3S

Apt

100
102

12

105

109=4 ....

95^
102

102i4J'ne'06
133 Apr'06
1 16 12 J'ne'06

10434 105^8

J-J

116'4

J-J
J-J
J-J
J-J
J-J

133

14

M-N

n

M-N
M-N
M-N
M-N
M-N
M-N
M-N
MN
M-S

J-D
A-O
A-O

A-O

135

11412 Sale
107
I07I4

109 14

94 Iq 95
11218

115
108 Is
114 114(
107 i>i
124

102 12 107
10 10814 112 1*
94^8 963*
10214 104!^

102

116
108
114

111 1-2.
103 -2

106

11138ll23g
182 12 1821a

«e'06
»b'06

It

1«.

10712 1081a

Sir '05

II

111^4

.

11

106

.

lllWlloJa

106'4 I0834
10634 IO634
11234 II5I4

>r'(.6

10-^

IIOI2.

123
102 14.
100 12.

122

IO834IO834
115 115

.ar'UO

115

,w*»ttt;
12;!'^

.

98
114

109

103
vpr'06
102
lar'06
98 14
98
103 Nov' 98
113
113
II4I2 Peb'06
109 May'Ol
I2

J'ne'06

lU4ifl
104.

Mar'06
Mar'04

107
ioi'i^

105

103

10512

112

12269126
IO212 1051a
10112 102

97

114,

10419 104^8
II2I4 11214

11634 Mai'06

U634 11

Feb'Ob

117

117

117

105i4Dec'0.
104 Dec'O;
102 12 J'ne'06
124
I'ne'Oi

10034

100>a

12 113 113
114i2ll4'a
108 12 109
107121071a

U2I4 Mai'Ol
108^4 Jan '04

I2

97

US'*

11314115
25 107i2ll0»a

lay'OO

K,

108 12.

93

116

Aug'U4
«^r'06

11

.

132 12 137
113'2ll4i«
107 1085«
1081s 1081a
10512 1101a

Apr'06
Apr'06

is^

139

II6I2 120
II8I2 1184
11734 1187,

lOSig Mar'06
109 J'ne'Oi)
IO9I2 J'ue'04
9412 J'ne'uo
115-4 Oct '05

10»

14

132

133
133
114 Si II41-.
107 May'06

J'ue'06
IIOI2 llOi-j
137 "2 J'lv'99
..;.;^iii34 Mar'Oti

110-'4

10234

LO'i

10314107
I04I4 LOi^t

ll8i2Feb'06
118*4 Mar'06

.M-N

82

'05

IO212 J'ne'06
UUI4 HO'.9634 Mar'06

131 ....
11612118

J-D
A-O

9934
821a

92 12 95 14

104^4 jMar'06
HOI4 Jan'O.o
IOII2
1011-2
103'4 J'ue'Oi

104i4May'u6

'102

79
78

9934 102

!i0iaFeb"05

105 4
lOO's

i-i

ig

llOkllOia

116^4
J'nir'Ui

02
102
1

1

101.1s J 'ue'0(>

9ui2

J.J

W

J 48

Sale

1071*

116
115
106

.M-S

M-N
M-S

J-J
J-J
ChiCcfc Pac Div 6s
1910 J-J
ChiCcfc P
l8tg58
1921 J-J
Dak cfc GtSog5s
1916 J-J
Farcfe Souasan g 63
1924 J-J
Haat <fe D Div 1st 78
1910 J-J
Ist 5s
1910 J-J
1908 J-J
I <fe D Exten l8t78
lacrosse cfc D 1st 5s
1919 J-J
Mineral PointDivSs
1910 J-J
So Minn Div 1st 68
1910 J-J
Southwest Div 1st 6s
1909 J-J
Wiscfe Minn Div g 5s
1921 J-J
MUcfcNolstM L 68.. ..1910 J-D
1913 J-D
Istconsol 6s
Chic cfc Northwcon87s
1915 Q-F
Extension 48
1886-1926 F-A
1886-1926 P-A
Registered
General gold 3 I2S
1987 .\I-N
Registered
i)1987 Q-F
Sinking fund 63.. .1879-1929 A-O
Registered
1879-1929 A-O
Sinking fund 58.. .1879-1929 A-O
Registered
1879-1929 A-O
Debenture 5s
1909 M-N
Registered
1909 M-N
Debenture 5s
1921 A-O
Registered
1921 A-O
Sinking fund deb 5s
1933 M-K
Registered
1933 M-N
Des Mo cfc Minn 1st 7s.. 1907 FA
North Illinois 1st 53
1910 M-S
Ott C F cfc St Paul 1st 58 1909 M-S
Winona cfc St Pet 2d 78.. 1907 M-N
MU L S cfc West Ist g 6s 1921 M-N
Ext cfc Imp 8 fund g 5s 1929 F-A
Ashland Div 1st g 68..1925 M-S
Mich Div l8tg6s
1924 J-J
Convertible deb 58
1907 F-A
Incomes
1911 M-N
Chic Rock Isl cfc Pac 68.. .1917 J-J
Registered
1917 J-J
General gold 4s
1988 J-J
Registered
1988 J-J
Refunding g 48
1934 A-O
Coll trust Series H. 4s ..1910

104

106
II314 Feb '05
94 100
9934 Feb '06
80'.
80
79
79
78I2
78i2Sai6
80
80 1« Mav'05
101
101
IOII2
94 Salt.
94
94

A-O
A-O
M-K
M-N

>,

02
100

I1.2

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

131

J13

102 Mar'Uf!
lOlig 101 't

101

iVl-s

A-O

1271-2
llz.'«

May'06

J-J
J-J
.VI- IN

vlfi" lit'i"

127 12 Apr '00
11234

.\I-N

Cent Pacitio See .So Pacitic Co
Chas & Sav See Atl Coast Line
Clies & Ohio g 63 ser A../i.l90s A-O
Gold 6s
al911 X-0
1939 ftfl-N
1st consol g 5s

M4S
N4s

Mo Pac

Mobile Div Ist g 58

98 12 May'Ob

gs^i

P

Cent of Ga RR 1st g 5a..23l945 F-A
Consol gold 5a
1945 M-N
Registered
1945 M-N
iBt pr el income g 5a
pl945 Oct
2d pref Inconie g 58
pl945 Oct
3d pref income g 53
pl945 Oct
Chatt Div pur mon g 4s. 1951 J-D
Mac <fc Nor Div 1st g 58.1946 J-J

Mid Ga <fc Atl Div

Apr'97
Apr'06

F-A

South 1st 58

Cen Branch Ky

May'06

115
123 "u 124

1908 J-J
1913 M-S
Registered
1913 M-b
Carb <fc Shawn See 111 Cent
Carolina Cent ,See Seab Air L
Carthage tfe Ad ^'ee N Y C & H
Ced R la F <fe N &e« B C R <& K
Cen Branch U Pl8tg4s...l94h J-D

CCanada
^2d 58

117

103

ay's....

J-J

Buttalo <fc Southwest See Erie
Butt & Susq 1st ref g 48.(il951 J-J

Bur C R

120

119

A-O

J-J

Sale

I.axt

ASH Low

I07I4
12812 130
I2714

*n3

Craig Valley Ist g 5s
R & A Div 1st con g 4s.. 198;
198'.'
2d consol g4s
Warm Spr Val Ist g 5s. .1941
\
92--18
90
Greenbrier Ry 1st gu g 48 '40
0/ $5 to £.
ChiCcfc Alt RR ref g 3s. ..1949
Mailway 1st lien 3123. ..1950
lOO^glOl
1950
Resistered
Chic Biirl& Q— DeuvD48 192-J
1949
Illinois Div3i23
194;i
Registered
11712118
1949
Gold 4s
Iowa Div sink fund 5s. .1919
1919
Sinking fund 4s
Nebraska Extension 4s. 1927
1927
Registered
95 12 9614
1921
Southwestern Div 48
JOint bonds See Great North
9434 '.HPi
1913
Debenture 58
20
2912
Han c& St Jos consol 63. .1911
ChLC & E 111 ref & imp g 48 1955
1907
1st a f cur 63
Istconsol g 68
1934
General consol 1st 5s
1937
Reaistered
1937
Chic cfc Ind C Ry 1st 58.1936
Chicago cfc Erie See Erie
90
99
Chic In & Louisv ref 6s. ..1947
100 104',;
Refunding goldSa
1947
9912 10538
Louisv N A <fc Ch 1st 68.1910
10114105^4 Chic Mil & St P term g 58 1914
10l'4l02l2
General g 4s series A..el989
9814
91
Registered
el989
General g 312S series B.el989
91
97
Chic<fe LSuDivg58....1921
Chic & Mo Riv Div 5s. ..1926

'04

1001* Sale
14114

Bid
Oeiit ot .N J e-eu'l pold 5s. 1987 J-J
Re.?is1ere<i
/il 087 Q-J
An; Docic <t Imp gu 58.. 1921 J-J

88

1001-2

9912 Feb '06

Oct

15

tine 1 5

Kanqe

Ranye or
--

Cen UR<fe BofGacol s 5s 1937

93St,

Jan '06
9812 Nov "04

Southw Ulv 1st g 3^28.. .1925 J-J

Pitts Clev & Tol 1st g 63 1922 A-O
Pitts
West 1st g 4s. ..1917 J-J

26

Apr '06

96
96 »4

9712 5816
921^

/i.1925
5s. .1911'

97I4IOII4
90 1-2 95 V

991-2

"4

lOmaSale

Registered

'05

92 'b

100 12 Jan '06

97^2

/tl948 Q-J

Registered

P Jun & M Div Ist g 3>^sl925 M-N
P L E & W Va Sys ref 4sl941 M-N

Sep

99 »8 May'05

99'-j

SlO^^lOlSt,

K:-1 '4

i

102 '2 Mar
111 Mar
11719
105i<jDec

J-J

U pek's

10314 108
99I4 101
11

y4\ 119

9414

p> ices

111

891-2

85»,

lOO'a
SalL

76
44

109i4Oct

F-A

fund debt 2-3s...l991 J-J
68 deferred Brown Bros ctfs.

108:14

105\

193;. J-J

Small

May'Ol

93 's

101

J-J
J-J
1901 J-J

4 to 5

r04^i i>)4^4
103 103-4
10314 104 V
129
129 'f.
129i2l:i2i4

98

Sale

are

hese

'0.'

104

9!'i4

UOo'b

State Securities

Oct

May'Ot'
May OH

129
131
111

99 "s Sale
ys^gSale
94 ^aic
93 >« sale
85 '4 Sale

M-S

J'lie'O'.

1030fl

129 \i 130
129 '4 130

t

102S& 104^4

103^, May'Ol

^«

Sale

10-1

Wkkk Kndixo jine

1

Ask Low
103>4l03\ 10314

Hill

s. (ioviTiiiiieiii

IJ,

y-J

U

lJOM).S
N. Y. .STOCK K.Xr'n.\XGE

Since

January

Sale

I.axi

Weekly and Yearly

i'A<.;k."*

Kanqe

Hanye or

Frifiav

N. Y.

Record, Friday.
mtvii

o<;<;i;»'ViN<j

Y

101
I23I4
11768 II8I2 11 7 3g May'06
12614
142 12 Feb '02
I26S4
128i2Feb'06
105*8 fep'O:
1U2
109 Sep 'OH

102 la 102 la
122'2l26»9
II7I4II8

120
117

119
119
101

12812 128 Hi

120-'=8Fob'06

Mar'06

119

10234 1031s 103
1031(1
9918
102 May'UO
9434 bale
9412
9434
9534
97 J'ly'04
97»4 Dec'O,"!
93''e
9138
96 Nov'05
9O69
93 May'Ol
89 12 May '06
89^8
8914
90 May'04
781-2
78 Sale
78
79 Dec'O.
91 Sale
91
9m;

102

It,

il'7'"il7'e 118

ibo'"

'.'.'.'."

12018
llSVi
10314

9912102
9234 97

891a 891a

.^8 14
93
10O'4l02'«

May'06

H8

119'*

118

120iaMar'03
111 Nov'Oj

J-D
J-J

105»2.

M-N 109
A-O
.109
.

105
111
11
103

May'06
M»y*06
Apr'06

111

lll«4
J'ue'OO

106a»

105

HI

111

108

111^

BO.\t>.>«— Continued on Ne.xt I'aije.

Street Railway
col tr g 5s. 1997 P-A
2002 A-O
Bwayc&7thAvl8tog5s 1943 J-D
Col cfc 9th A V 1st gu g 08. 1993 M-S
100 104
IO712II314
Lex Av cfc P F 1st gu g 6s 1993 M-S
nurd A ve R R con gu 48 2000 J.J
110 110
95
90
Third Ave Ry Ist g58.. 1937 J-J
96'4 MetWS El(Chic)lstg48. 1938 F-A
89
874 89 12 Mil El Ry cfe L 30-yr g 53. 1926 F-A
102 102
Minn St Ry 1st cou g 5s.. 1919 J100 3b 10- "4 St Jo Ry Lt Hc&P 1st g 58. 1937 M N
.St Paul City Cab con g 6s. 1937 JUnderground Elec Rys of Lon
17 944 981.^
don I'rollt sharing 5a... '90h J-T)
9 3 'a 95^4 Union fc;i (Chic) lat g 5s.. 1945
90 1, United RRs Sau Frs f 4s. 1927 A-O
86
United Rys St L 1st g 43. 1934 J-J
9^ lOO's
Chic St 40-yr con g 58. 1936 M N
eJUitiMay ^DueJ'ne ADue J'ly k Do* Aug
Apr

105»4l09
9II4IOO
106 107

Met St Ry gen
Ref g 4s

AO

W

in

Sale

8512

85-34

112 115
113»9ll8

llCa

113 '4 May'06
114 "2 May '06
114 May'06

iM's'^alp
117 118'4

93.18

1174

11441194
11341164
92 4 96 4

91'v

1174

1044

16 110 117
83
92
112 4 116*4

94 Oct '05
106 Oct '99
107 4Fob'06

iofii

lU

OS's Sale

101
79'h
88't

1074 107 >•

114 4Nov'06
9G'»
9C4
IO634 J'ly'05
7918
80

88 4

99

Dae Oct

IJ634II9

12

71
86

88>-/

Dec '97

p Due Not

96

«

4

98*4

89»4

4 90

Option

Sal*'<

—Continued—Page

1364

Bond Kecord
BOM)>

LJi i-ltts hcf l*eimC<
Chic St P M A O cou lis. ..11)3(1 j-r>
ConH lis rfiliicctl to S;». I'.i;!" J-D
Ch St V & Mmii 1st K Us liUUliic SI

'A

Nor

8t

\Visci>i)«in Ist t)S...l'.>:''i
scity 1st 2 iis...liM:'

P&

ChlcAco Ter Trans c48...iyi'<
Coaijon ott
Chic & West Ind gen S tts -jr.i;''.

J.J

AC)
J

&

Au/i'/f or

Last .Sate

Afh

htii

132m35

.

1

113
112

W

W

A
Clearneld & Mah .See B R A P
Cler Cin C & 8t }j tren 4s wm
Cairo Dlv 1st l'oKI 4s
Cln W A M Div 1st !r4s. linn

J-J

1st col tr p43..1<.)!H'

I'.tHi

St

L Div

litsn

Kestistcre<t

Svr A

\I-N

Col OiT 1st p 48. .194(1 M-S
Val Div 1st r48... 1941 J.J

WW
St

CI

J-i-

J-J

Ij

A

C consol

6s..l'.)2l'

l8t eold 4s
P.oiristerort

A CI con 1st
CC C A I coiisolTs
Cin K

s;

M-N

.../cl!)3C Q-F
/cl9o( <i-b5s, .19'2^- J-J

1914
19 11
Consol siuk fund 78
General consol gold 68.19;;4
19;M
Keiristered
1st vret 4s. 1940
Ind Bl &
Ist T>( 5s...ia98t-'
O Ind A
Peo A East Ist cou 4s... 194U
1990
Income 4s
CI Ivor A Wli con Ist p 5s. 19:-!::
Clev A Marietta 6eePenn UH
Clev A ]\ralion Val e: 5s... 1938

W
W

J.D
J.D
J-J
J.J

A-O
A,.

A O
J-J

Clev A Pitts See Penn Co
194" J-J
Col JUdiand 1st sr 4s
Colorado A Son lat s4s...l92'J F-A
Coluni A Ureenv See So Ky
Col

A HocH

\:iv-Ci

136
135'<

120'* 124^^.
i.Mi'^Kn'-.
9.S

100'..

113

1143^

Mar'oe

112

Mar'OC

"^l" '91"

112

See

M
MKAT

Del Lack A
Morris A Essex lst78... 1914 •Vl-K
1915 J-D
Istconsol gnar 7s
1915 J-D
Ke;;istered
Si^s
'200U J-D
Istref gu c
N Y Lack A' Ist 68...19'2] J-J
lSi2\i F-A
Construction 58
1923 M-N
Term A improve 4s
7s.. .1907

M-S

W

A N Y Ist7s..l90li A-O
Warren 1st ref gn K 3 '2S.20OU F-A
Del A Hud 1st Pa Div 7s.l91" .M-S
Syr- Bictr

Ke^stered
Alb A bU3Conv3i2S
t.nar arold

tjs

191

.M-S

1940 A-0
1900 A-0

Rena A Saratoga 1st 78.192] (VJ-K
Dei Iliv liK Bridge See Pa HI:
Denv A K Grist con k 4s. 1930 J-J

1930 J-J
Improvement srokl 5s...l92S J-D
1939 J-J
Kio C-ir West 1st K 4s

Consol gold 4

"23

Mge and col trust 4sA.1949

AO

102
100 >4
99

102

10534
10014 1(I0'4

1027,

100 14
100

,

IOOI4

100

100
100

100 ^4 looi.i.T'ne'Or)
99
100 Oct '04

.

.

90
97

10278

,

.

lOl't

103

99»4 Feb'O:'

94'tiAug'03
105 Jan '0-1

'•4

1(15 >«

\0l\ 103

1017gMay'06

101 '8 IO310
101 103
112»8 115
122 122

May'Oi

101
IVJ," iii"

113'4 J'nc'Ot

118

122

M

Uu By

129'8.

Jan'OG
Feb'OO

134

134

135

1995 J-D

Gold 4s

1951 J-D
Det Sou Iste 4s
Ohio Sou Div 1st g 4s. ..1941 M-S
Dul A Iron Range Istos.. 1937 A-O

1937
2d 6s
1916
Dill Short Line 1st 2u5s.. 1916
Dol So Shore A All g 5s..l937
r-'astol ilinn ,vee St P .H A .AI
R3-.;istered

9S
73

99'..

Sale

10958

115

J-iaat

Ten Va A Ga

See So

98
98
74
73
115iaMar'06

96V2IOI
69
80
llSialloii

76>2Sale

761^

77

74 14

9438 Sale

93'.2

9438

90

10534
119^8.
12034

104"8 Apr'06

.

adext

tfoldSs
3d ezt gold 4128

124i4l26>2 126 '8 Mar'06
12618
10934 ...
112 Mat '06
112
102^4 ...
102 J'ne'OO
102
102'4 ...
IOII2 Miiy'OO
IOII2
95 ...
102 Feb '03
"133"'
12738 ...
133 Feb '06
149 Aug'Ol
110 113 lllHs 117 60- 105
102 Is
1021s Jan '06
loo %
142 1.2 Mar'05

iOO^^lOlia 100^2 101
108
108 Mar'06
IO5I4--..
107'.4May'06
98
99
98
9812
89
88%
89

110
97
92

791*
9612

81''4

8S
112

113

104

.

10934

.

W

W 1st ref 5s. 1937
2<l^old 4>28
Y Sus A

1937
Gelieral gold 53
1940
Tenntnal Ist gold 5s. ..1943
Regis $5,000 each. ..1943
Mid RR « IN' J Ist g 6s. 1910

M-S
A-O
J-D
.M-S

M-S
J-J
J-J
J-J

J-J

F-A

AO
J-D
J-J

M-K
A-0

A-O
IVI-K

M:ir'05

Apr '06

113 la Apr '06
11638

1163g

10712 Jan '06

14'2Feb'06
07 14 May'06

107^8.
10934

11514 Jan '06

.

99 14.
132

103

114^"'e

102
1041-4

i33""

117
102 ij

99 101
IO6I2IO8
107 109

OGklOO
861^

92

Feb '05

S9\i

95

99 14

'

A Ala
A

Georgia

.SVe

J-J

1538

114'8

J-J

116"..,

F-A

FA

Sea

!ia (;ar
Nor -See Sea
i^eora^ia Pacilic /See So

GasgSs

1923 J-J
Uet Gas Co con Ist g 5s,. .1918 F-A

BdKllUBkn SeeKCoELAP
KdKIll SeeN YGAELH AP
B<1 G JjN Y 1st con g 58.. 1932 M-S

Gas A Eleo Berg Co c g 58.1949
Gen Electric deb g 3128. .1942
ttr flap G 1. Co l8t g 68. ..1916
Hudson Co Gas 1st g 5s.. 1949
Kan City (Mo) Gas 1st g 5s 1922
Kings Co EILaP g 5s.. .1937
PDTChase money 68
1997
EdKlilBknl8tcong4a 1939

117 '2

.im^

963.

" J<o price Friday; latest bid

D'f'4 iu"'a

Aim 05

114

103 i-j

"il.

loy-

10o'4 Feb'06

100\

li-U'i

Mar'9h

105
11 218 112

4,

111

J

ni34 115

J'lie'(»6

90

89

.Vlar'06

103

101

Dec '05

88

89

91

A Line
A Line

14ap A Ind See Penn RH
Pt Term See St L S W
Gt Nor— CBAQcoll tr48 1921 J-J
Resistered.A..
1921 Q-J
Greenbrier Ry .See Clies A G
Gnlf A S I Istref A t g 5s b\\\:,'> J-J

lOO^s Sale

lOl'aSale

Han A St Jo .S'eeCBAQ H
onsatonic.^See N Y N H A
g4i28.

Hock Val Istconsol

E A W Tex See So Pac
HoustATexCen See So Pac Co

100
101

FA

100
99 Is

lonv, 279

104

105

99 H.

2(

esuioi'g
97'8191'u
102

108H, 108>2 108W
lo5'2J'ly'04
100 Miiv'06
1043, 100
Apr '00

10.3

1999 J-J
Registered
1999 J-J
Col A H V Istexr g 4s.. 1948 A-O
19
Col A Tol 1 St ex 4s
Uinoi8Central Ist g 4s. .1951
Registered
1951
1st gold 312S
1951
Registered
1951
Extended let g3i28
1951
1st gold 3s.9terlin<r
1951
CoU Trust gold48l
1952
Registered
1952
Registered
Cairo Bridge

109

70
146

70 12
I4714

lOSM

103
105

.

102 12.

105'4

11 IO634 110

ibo^eif'i'i

100

100

116

118
lO.i
103
106 110
II5I4II5I4
1081210914
11134 113
116 118

108 >4
70
137

8O34
16834

J'ne'Oe

102

104

1131.2

>05

F-A

10534

96

.

.

.120

J-J

and asked

this

Sai^

106
105

105

loo's

93
105

FA
FA

"i,

.

.

.

93

J-J
J-J
J-J

F-A
J-D
M-S

'

9312

81
101

1921 M-S

3d gold 4s

Gold 4s

Ist gold 58. .1938 J-D

1951 M-S

;

RR <S«e'Eri6
Kal A A G R .See L S A M S
an A Mich See Tol A G C
K C Ft S A M See St L A S F
KCAMRAB SecStLASF
Kan C A Pacitic See M K A T

14

Har'OU
Feb'06
Mar'03
May'06
Oct '04
106
Oct '01
106
May'06

100
104

I2OI4

.

90

1

07

"<

IO6I2

103
100

100

el's 94»4
7812 7812
82I2 82J9

Jan '06
Dec '05

107

10734

'4

Nov'98
123

123

121

"ii

9358May'04
110'2Jau'05
103 Nov'04

,

10878 Jan '06
107 12 Dec 02

lOS's 1087a

100 May'06
117i4ll8'2 117 J'ue'U6
98 'a Sale
98^8 100
7514 (8
75 '4
751,
lli"8ll2 111«8 111^
66
86 Mar'Oi
lOii'i...

100
120

99
116
98

102»4

SO

751,

11138 115

86

88

70Ja

15U.

Jetterson

City Sou Ist gold 3s. .1950 A-0
Registered
1950 A-0

72

7212

LAN
lAP

Kentucky Cent See
iveok A Des Mo .See C

72
63

723.
'00

20

Oct

R

A Hud R See Cent of N J
A Wilkes b See Cent of N J
Leroy A Cauey Val See Mo P

11734.
11234

112^4

A-O

108

117

J-J
J-J

110'2.
10634
-

111
lllH
112i8Nov'05

ii6''2!

98'4 Apr'oe
I834 Apr'Ot;

J.J
J-J

M-N
A-O
A-O

M-S
A-O
A-0

10234

11558 119
11234 113

11234
'Ob

Jan

09 ^1 Oct
113
96

J-J

lis

118

.

.

.M-S

Long Dock See Erie
Long Isl'd— Ist con goS'.;il931 Q-J
Istconsol gold 4s
General gold 4s
Perry gold 412S

117

98

Jan

>tl931 Q-J

1938
1922
1932
1949
1934
1949

-is

Istos

".

N yBAMBlstcong5sl93b

NY A R B

Ist g5s
1927
Nor ShB 1st cou ggu5s 01932
Louisiana A Ark Isi g 5s. 1927
Louisv A Nashv gen g 68.1930

A-O
M-S
Q-J

112
96^4

'06

11378 11379

105 14 105 V

J'ne'Oe

114V, 117

99
102

J'ne'Ot

'g

105

J-D
M-N

1151-2 Salo
1171.^

Unified gold 48
Registered
Coll trust gold 5s

J-J
J-J

97
110

IO214

97

101»4

99"

971.

ioiiia

Dec '05

J'ne'04
loo's 1003^

112 Mar'02
111 Jan '06
11218 J'ly 05
105
105
11512

111

111

ibs" ibVr*

llOk

103

121igFeb'0t

1151212014
120 1211q

10312 103
103
101 Apr'Ot
'.'.'.'."
11318 11114 111^4
97 '8 9»i4 9734
ys
IO9I4
114 14 J'ne'05

100 101
IIII4II5VJ
97
100 la

10216 104'4

1..

t'aae.

Light
LacQa8L,ofStt.l8tg58.el919
Ref and ext 1st g5s
1934
Milwaukee Gas L 1st 4s. .1927
N Y G E L H A P g 5s... 1948
Purchase money g 4s. ..1949
Ed El 111 1st conv g 5s. .1910
Istconsol gold OS
1995
lilcctric

Rich Gas 1st g
Pas G A E cou g
Peo Gas A C 1st cou g
Refunding gold 5s

A

99

Nov'O

9914 Oct '05

105

101
110
109
109 12

M-S

M-N
A-O
J-D

I15I2
96^4

115

98 42

Gold 5s

1937
1940
1940
1931
5-20-yr col tr deed g 4s. 1923
E H A Nash 1st g 6s
1919

98 '4

105i4Jan'0t

115
loo

J-D

1911 i«-S

'4

11834 120 Iq

'99

12S8.-Vpr'06

113

19

117

IO912IIIH

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1950 J-J
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98
98
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1921
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1951
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1951
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1951
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1951
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Western Lines 1st g 4s.. 1951
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1923
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1951
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1951
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1951

110
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94
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'ale

pill- M-ii

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112 114
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1941
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1940
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1163811938
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1941
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IO7I2IO7I2 Leh A N Y 1st guar g4s..l945
114 1141.2
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194
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El C A N 1st pf 6s ,....1914
1151411514
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1914

88

i'oisgi'iu'e

M-K

(jns ontl KIpctric ].is;lit
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Bklyn U Gas 1st con g 58.1945 M-N
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1947 A-O

icoi-j

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'04

IO3I2

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192:;

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May'06
112iaFeU'06

,

32

126'4

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99 14 Feb '06
9634 Mar'06

93

116

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192U
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192S
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1920
Ist consul g ttuid7s
1920
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Regiatered
1996
istconsol gen lien g 4s.. 1996
Registered
1990
Peiin coll tr g 48
1951
50-year conv 4s A
1953
ButfJM
Erie 1st 7s.. 1910
Bull A S
gold 6a
190«
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Jett RR 1st gu g 5s
al909
Long Dock consol g 0s..l935
CoalARR Istciirgu 68.1922
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N Y & Green L gu g 58.1946

/,o>'

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104'^Nov'Ol

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Det A Mack 1st lieu g 4s. 1995 J-D

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kamie or

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t-rtee
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June 15

STOCK KXPHAN'fiE
wkkk Kmmno .TrvK ir.

N. Y.

[Vol. lxxxii.

2

>2

117
1031a
107
105

123
10778
107
108

Dec '05

10012 104 1-2

M-S 109
110 .Mav'05
93 If Mar'06
J-D IO3I2
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106 108»4
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121

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.

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N. T. STOCK EXCH ANGK
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944
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Nash Chat & St List <s.l913

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J-J
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113
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N YRegistered
1997 J-J

1034 M-N
90
l^ake Shore coUg 3>2S...199b F-A
88
1908 F-A
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1998 FA
Mich Cent coll g 3 Sjs
1998 F-A
Registered
Beech Creek Istgug 4s. 1930 J-J 104
1^"^*^ J-J
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1936 J-J ibs"
2d gu gold 08
3 i^soiyul
Beech Cr Ext Istg
Cart & Ad Ist gu g 43. ..1981 J-D
Cleart Bit Coal Ist si 4s. 1940 J.J
Gouv&OswelslgugSs 194'2 J-D
Moll <fc Mai Isl gu g 43. .1991 M-S
F-A
N J JuDCR gu Ist 4s. ..198b A-O
N Y <fc Pu let con gu g 4.-^ 1993
48

90

97 4
97*8

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88

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Series C
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Series E
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Nov'05
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•*85

100

107 4 Oct '04

102

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list g 5s. 192b J-D
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1951 J-J
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Sale
7734 Sale

79

12

100 4

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99=6 103

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75

98

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115

11634

116

May'O
Jan '01

116

11434

100
112

.Mar'Ol-

100

100=8

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111

114

116

1114

1104 1143^

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1942
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1949
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110

106 '4 Jan '06
102 Apr'O-.

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118

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J-D

ib9 4"io'9 4
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1124J'ne'05
99
99
92 4Mar'06
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J-J
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F-A

A-0
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1083,

Dec '0;.

90 4 J'ne'Ob

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RB Ist real

784
754

76
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7i-.34

98

J-D

102*4 1064
1024 106

10439 10434
102 4 May'Ob

76I4

7

-A-O

and Telephone

48 1929
Am Tolep & Tel coll tr48.. 2397

Comm
MetT & T lat a 1 gSa ...1918
N Y & N J Tel gen g 08..1920
cur 58.1938
Cable Co lat g

West Union col IT
Fd and real est g 4 4s... 1950
Mut UnTel s fund 6s. ..1911
83 4
NorthwTelguI 443g..l934

73

103

Birm Div Ist consol 6s. .1917 J-J
Cah O M Co l.st gu g 68.1922 J-D
DeBarCife ICogiig6a.l910 F-A
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"'No price Friday; latest bid and asketl. aDueJan bDueFeb

1024

102=8 102»«
714 88 4

102=8 Apr'OO
7734
79
7734
77 4
107=8 Dec'04

107 May'97
102 4 Oct '03
105 4 1054 Oct '06
105 Oct '00
99^8 100
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109 J'ne'Ob
107 4109
1104 May'Ot
1104
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95'..
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95 4 Sale

105

100
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10941124
99
99
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'0'.:

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118
119
107

109 4112'8

118

118

Apr'04
Dec'O

104 4 104 4
Next Page
i11ISCEl>l.AJJEOU!5 BONO!i»-Coiitinue«l on

1044 Feb'Ob

J-J

M-N
A-O

F-A
Q-F
F-A

guar
guar
48 guar
34 guar g
48 guar

relejtiapli

F-A

ib3

1919
Consol gold 5s
1943
Consol gold 4s
1915
Convertible g 34s
1912
Convertible g 348
gu g 48. ..1942
Alleg Val geu

Apr '02

105
105

9934'

1114Scp'04
.M-S
106 Aug'O;
M-N
94 101
94=1 4b9
94
9439 Sale
J-D
lb 95=910534,
98'.
9734
97 4 98
M-N
1044 Oct 'Oo
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1st gu 48g.'3b F-A
D R R R & Bge
.| 107 4 1083b
107 4 May'Ob
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Mar'04

'.'.'.'.

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.

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62

93=8

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U)94Feb'Oo

Sale

7534

Oswego & Rome See
O O if <& St P 6ee C & Ng.l913 A-O
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Pac Coast Co Ist g 58 Mo 1946 J-D
Pac
ac ol Missouri See
Panama 1st s lund g44s..l917 A-O
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1921 J-J
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A-O
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^^^'i J-J
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1942
B
Series
194« .\1-N
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19o0 F-A
Series D 348
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1940 J-J
C
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J-J
443
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1940
St L gu 4 48
P C C <fe

984
984102

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13034 13934

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100

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1931
St Paul & Dul 1st 58
l-^lj
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103 105
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116 1203s
1948
Wash Cent Isl g4s
112 11734
Nor Pac Ter Co 1st g 68. .1933
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11 914 94
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93 14 96
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1074107 4 Nor & Mont See
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113 11538
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126 127

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1996 J-D
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1996 J-D
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1004

103
91

97 4100
93 Sale

CC&Tl8tgug5s... .1922 J-J 1074
1004
Scio V & N E 1st gu g 48 1989 M-N
NW
North Illinois See Chi
North Ohio See L Erie & W
10434

lb341074
1044 107 4

106

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1996
Div'l lstl& geng48...1944 J-J
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101

101
120

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107 4 Apr'Ob
11538 Apr'06

1131s.

10.'>J.i

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Il4l4ll4>i 1144J'ue'06
116 iS'ov'Oo
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933,

96
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92 4
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95

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,

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129
131
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97

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4

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1932 A-O
New River 1st g 68
1004 100
N & W Ry Ist con g 4s. 1996 A-O 1004 Sale 100 Feb'Ob
A-O

4 914

87

88

10,ii-4

.- •

Jell

119

119

97

1931 M.N

Nort& West gen g 68

1034107*8

Feb'Ot.
J'ne'Ob

96

96

W

Coal and Iron
I Co gen 8 t g 58. .1943
Col
1911
Convertible deb g 5s
C & I Dev gu us g..l909
Col
Col Fuel Co gen gold Os.1919
Gr Riv Coal <& C Istg6sl919
Col Induslst conv 03 gu A.1934
Ist g<fc coll OS gu SerB. 1934
Contin'talClstst guusg.1952

120

Apr '04

10958

1194 119 J'ue'O
1044Mar'0b
104=^...
1064Nov'00

1937 A-O

Registered

9934 103
92 s,
86

I

89=1

89
ha
108

Sale

10434

I-

F&

119

...
...
...

<fe

47

874 J'ue'06

894 Sale

IstoonsolgoUlOs
r-\iin
Trust gold 5s stampod.al9w .M-8
M-S
Kegistered
*i,,.,,, F-A
1920
Ist coll gold5s...
194o NI-S
loan 4s
40-year gold
-A
Cent Br Ry 1st gti g 48.1919 J-J
l,eroy & C V A L 1st g os 192b
F-A
•pac K ol Mo Ist ex g 43.193b
2d extended gold 5s...l93fc J-J
A-0
St b Ir M& Sgen con g osl931 A-O
Geu con stamp gtd g os iy31
Unified & ret gold 4s..l92J J-J
Biv<fc Gf Divlst g4s..l 930 M-N
1st g 5s-192o Ml-S
Verdi V 1 &
Mob & Birm prior lien g us 1040 J-J
J.J
- ^•^^^!
Mortgage gold 4s
J-J
MobJ & K Cl.slconsgos.iyu3 J-0
Mob & Ohio new gold Os 1J2/

Deben g

41254

<fc

1021.

Nov'Ol

103

Ok 1st gti 5s. ....1942 Nl-N
T ot T 1st gu g &s.iy42 M-S
J-D

McM M W & Ai Isl bs..iyl;i
6s
T&P Branch 1stSee L 191
N
Flor & Shet

122

cfe

J-D
F-A
M-N

1st extension gold bs../a J2 /
Genersu gold 4s
\,A^
MontgoiuDiv Ist g us.. 104/
St 1, <fe Cairo coll g 4s..el930
19ol
Guaranteed g4s
See Southern
<fc O ooU 43
See N V C & H
Mohawk & Mai
Mouons^hela Kiv See B <So O
Mont Cent See St P
Morg-an's l^a & T See S P Co

10141014

125 4Mar'06
139 Jan '03

<fe

May'Ob

111

113

111

M-N
M-S

*107is
<fc
101
Sher Sh & So 1st gu g 53.1943
M-S 105 4107
Tex&OklalstgTig58...1943
1900 M-N lom
Missouri Pacific 3d is
M-N 1204 sale
<fc

1014FeU'0b

<fc

^"o* M-S
l8t& rehnKMs
Gen s E 4^128 .sitb reels -------- A.O
St ]a DlV l.st ret g 4s...-2t 01 .M-N
Pal <fc Wa 1st gu g OS. ..1940 p.
Kan C & Pao Ist g 4s.. .1990 AO

K
MK

9939

97 100 4
98 4 9934
964 101 'a

<fc

137 J'ne'05
111 4 Oct '05
118 J'ne'OG

134

7s.l910 J-0

M

M
M

112

IO4O8 10734

May'06'
99 > 89
99 4

,

105
117
115

105 4109

973.

973.1
9>;34

See Ene
N Y Greenw Lake C & Hud
N Y & Har See N Y L.&Vf
N Y Lack & W SeeT)
X Y' L E W See Erie
NY&LongBr &e«CentofNJ
New York New Hav & Hart-- M-N 118S8.
Housatonio R con g 58. .1937
N H & Derby con cy 58.1918 M-N
118 120 %
N Y & North See N Y C H
1004 Sale
111 1144 X Y O & W ref Ist g 48..(/1992
4/1992
Regis §5,000 only
904 97
6'eeN YC<fe H
97 4 N Y& Put
97
N Y R B iSee Long IslaJid
W See Erie Co
10034 102 14 N Y S
N Y Tex M See 80 Pao 1941 M-N 1024110
South lstg5s
Nor<fe

N

1st consol gold 5s
\yf}
.194.'
Isl and refund gold 4s.
& Ft D 1st g;u 4.S. . <fc 00
Des
JS
See B C K
Minn <fc St 1. gn
con g 4 ml gti 3.b
Sb
.^t P
4 iut gu 192b
1st g
S3
Minn Un See St f
Mo Kan Tex Ist g 4s.. .199
ff^'jy'*
2d cold 4s
1 44
l8textL'Old5.s

21

984

yoosJ'iy'oi
105 May'OO

/

South West

1304

No Low High,

Jiigfi

107 4
107
107 4 J'ne'06

F-A

R
08we<fe R2<1 gug58...el915 F-A
58.1918
R W&OTB Ist gug 48. 1922 M-N
J-J
Utlca & Blk Riv gu g
N Y Chic & St L Ist g 48.1937 A-O

2638

1914
15 4

Midi Cent

M

.M-S

N W<feOconlstext5s./il922 A-O

774 85

lo"* 223

16

Sale

10

i0334 i063^

80\i 82
2134 161

79 '8

Mex Internat 1st. con g 4S.197 M-S
IJlt' J-D
Mex .Noitli 1st gold bs
Cent

X

J-D
J-D

January 1

Last Sale

107 4 Sale
103 4106 4
97 "4 98
97
....
99
99 4

J-J
J-J

MS

"99" "9914 99

See N V
Mid ot J See lirie
%\
Mil 1. b & VV ,Vee Clue &
Ci
MU & Xortli Seagold & t>t 1 J-D
Minn & St b l8t
'^--^If' J-D
190.'
iowa Ex 1st gold 7s
Pacific Ex 1st gold (3s -1921 A-O

100 4

97

A O

MS
MS

4112 4

2b 10038 lOS's

101

10034

80 Sale
204f>ale

Sor.l90( F-A

101

9il

I

97

97

1054

AO

J'ne'06
108^4

Range or

Ask Low

Bid

J-J
J-J
Pitts McK<& Yl8tgu6s.l932 J-J
1934 J-J
2rt guar 6a
McKees&BV 1st g6s 1918 J-J
Mich Cent Ist consol 68.1909
1931
5g __
1931 Q-M
Registered
1940 J-J
48...!
1940 J-J
Registered
1951
JL&Slstg 348-.
1952 M-N
Ist "34s
Bat C & Stur Ist gug 38.1989 J-D
43... 2000 M-N
N Y & Harlem g 3 ...2000 M-N
Registered
Y & North l8t g 5s. 1927 A-O

10841084

115i4.Mat'05
107 ix-c '05

100

A-0

Metropol Kl 1st g bs--.-190b J-J
McK'pt & B V See N V Cent
Metropolitan El *'«,« Man Ry
4s..l Jii J-J
Mex Cent consol gold Ss.aij dJ J'ly
1st consol income g
as.-oUM- J-ly
2d consol income g

liVb" iVo"

'06

Maj'OO
ll'24Mar'06

1004101

i',

ib'iiui'io'i

114

96

L& Jelt BdgeCog\ig48..1J4i) NI-S
L N A & Ch Sec U 1 & ^
«
tice
Mnhon CoalRy consol4s.l990 A-0
anhattan
1-

10834
97

119

106
97
114

100

Sale

ioo'i^

130
122 14 12214

-

.lUNE 15

Iiang»
Since

Weel^s

Price

Pridav
June 15

(Continued)
Xor & Mont 1st gn g 58-1916
Shore Ist 4b gu... 2361
West
2361
Registered
1997
Lake Shore gold 34s
199
Registered
Debenture g 4s.......vl928
Det Mon & Tol 1st 7s. 1906
Ka A & G B Ist gu c 5s. 1938
Mahon O'l RB Ist 58. .1934

11 128

131)
"-4

1084 Jan

J-J

4s. .198/

2

Mar'05

109
130

122 Mai'Oo
114 Apr'05
114
r2ti%-Mar'06
119=8
74^8 Oct '05
79
71
1163 116 J'ue'Ob

->'

Kentucky Cent troia

13G5

BOM US
STOCK EXCHANGE

WEKK ENDIKO
Low Hiqh K Y Cent & K B
January

High

Ask Low

1051s
130
I22I4

LCm & Lexgol.t4V28.,.l931 M-N
isteoui bs..-.19JM J-J
N 0& M 2(1 Koia OS
J-J
19;^
NO&M
Wl-S
polrtos-.-l.
tensacolaDiv
Bt L Div 1st gold 6s

Uange

N. Y.

Since

or

Last Sale

June 15
Ilia

Hanye

Wtelc's

hYida.v

^
^"^

-^

1

Xashv-fCoiUmued;

J^

1

Bond Record—Continued—Page 3

16 1906 J
Price

U)uiav

3

1

:

964
/iDuoJ'ly 'CDuo Aug
c Duo Mar d Due Apr
91

95>4Jan'0t
96 4 Sale

964 964

109 4 Mayor.
105 4 J'ly '03

1074
103 4 Sale

J-J

90 Sale
90 4 91
89
103 104
884....
11334 Sale
78''8 Sale

1074

103

103'-.

103

J-J

M-N
M-N

.HanuiactarinK at Inilurtrial
1915 Q-F
AmCotOU ext 448
M-B
9734 1014 Am Hide<fc L lat a t gb8..1919 A.O
deb gOs.. 1925
1104 Amer Ice Socur
109
1104 Am Spuita Mlg l8l g68..1'Jlo MS
109
AmThreadlbtcollr48...191S" J-J
10-3
Am Tobacco 40-yr g 68. ... 1.44 A-O
103
1951|K.A
=
4g
'

11

J-J
Q-J

M.N
M-N

944 954
964 9»
107 41094
102 105

J'ly '04

1064Mar'06

91
89
104

96
91
89
104

••

Apr '06

95=4

1 •'a

113 7834

UuoOct p Due Nov

a

94 Ts 98

9041004
934
87

99 104
9038 91 ^
49 112 1174
84
218 78
Deo < Opuon Sal«

114
79

Due

1064107

Bond Eecord— Concluded

1366

—Page

4

[Vol, i^xxxii.

ll«».M)-»

STOCK KXcHAN'iF.
Wkkk 1'.Mi|,\(> Jl'NK ir.

M. Y.

Peon Kit

-^~.|

\V lot fr 4k..11H:'. M-N
l^wm IM g 4a... rj;<i J -J
J Kit iV;(.:nlK<'U4-*.l"4-l M-t-

Fen.M.-icola

Peo

.All .bet L.

ifc

A

iV;

i^t

i>ee

Uu

ist

poKtm^s

•2<.

P.M cGs

l»l consul

frolil

Pt Hui-on biv

H

SajtTus.fe

jf

Us

123

W M 6s

Ist

A O

;;ii ir

f>s.l'.i;{!i

4.s.l'J31

los
108

A-O

12458

Puts JIcKee8& Y

i<'C>.'

Hee

1

Con gold OS
Southern— 1st con g 08
Kfgistered

....

116
101

99^4 Salt

102 »4
J'ne'06
9yi4

9914

109
76
89

82

120

118

M.iy'Of)
7g

lOOi-i

9S''8

1941 J-J

99^8 102 6*
9:) 1^

101

13

h

'05

98S,100i3

9812

lOl'^Nov'Ol

92l.May'06
122

921a 94I3
122 122

Jan '06

iy'16

U9

D 4-5s
E Ss

10534 May'Oo

'.

J-J

HI
Si

'4

110

1064i

He

H«i3

Sale

117

95

"3

98
113

96
92

114 I4...
115^8-..

'06

W

W

127
113

129

86

M
M

101

116
11713

'00'

95

16

122

123

121

Sale

12018
84^4 Sale

KC&M R&

100i4May'06
127 May'06
113V2May'Ob
98 »2 Sep '05
102^4 Ang'Oo
8578
86
97 May'06
125 Ang'05
84
8138

M

A-O
F-A
J.J

A-O
J-D
.Mai
J.

W Min W N W Ist gu 58 '30 FA
OC Ist
J-J
<fc

83 13

87 'f

Tol<fe

1935

g 58

Western Div

Ist g 58.. .1935

A-O

General gold 5s

W

9C

96\ 96 Vj

77\

M

78'4

107 ...
133 Is...

96 Hi
88VaJ'ne'06
77^8
78%

IO6I4 Apr'06
13334 May'06

13614 140 May'02
llll8ll2'-2 Ills
1111*.
1161b Apr '01
107^4
108
108
103^ IO3I8 May'06
10313 Sep '05
100^4 103
1011. Apr'Otj

102

Mmu

>2

124

May'05

114

I34I4 J'ne'06
I36I4 May'06
118^2 119 Mar'Ob
I2lii Oct '05

109

.

134
.

1935 J-D
9512 993<
Kan &
Ist gu g 48
1990 A-O
TolP<fe Wist gold 48. ...1917 J-J
84
89
53 77^9 82
TolStLcfe WprUeng3i28.1925 J-J
50-year gold 4s
1950 A-O
Tor Ham & Buft Ist g 48.A194t J-D
1061410913 Lfl8ter<fe Delist cong 58 1928 J-D
195'..' A-O
let refund g 4s
13334 13713
Un Pac
1 gr g 48 ...1947 J-J
UOI4II24;
Registered
1947 J-J
let lien g 48
1911 M-N
Registered
108 111
1911 M-N
Ore Ry & Nav con g 48.1946 J-D
102 104 14
Ore Short Linel8tg6s..l922 F-A
IOII4IOII4
Ist consol g 5s
1940 JGuar refund 48
19
J-D
Registered
1929 J-D
Utah & Nor Ist 78
134
1908 J-J
136
136 14 I36I4
Gold 58
1926 J-J

M

'

11818 II912

Uni

RR&

N J RR & C Co

Utali Central

Utah

M

Utica

S

II2I2 Jan'06

107 »2.

J.J

110

Oct

112i2ll2i<:

109
Ill

no

109
95

110
113

.

.

Jan'Ob
J'ueOt

.S'ee

See

'•J.

11913

.

...i:113

...I

10)1

96
92

''934

113
93
92

••»8

Mu)'06

..!114'4 116

4|H6

1L7-.

..1:11312

lty<4
iieSi

May

.

.11121

11334

..1123411234
105

114

llii-t

1091311413
11214114"*

114

...
...

J'ue
J'ly'Ot
Nov'O-l

109

.

Maj'Ot

109 112
119 120 ig
y7Hil00i«

120 Apr 'Ob
9812 98 May'Ot
112i8J'ly'04
1071a...

II712I2I
93

11912124
102 102
i08'4 110

1191..
11913
102 Jan'Oo
ilO Mar'Oo

lOOSaNov'Ol
....
112
112
113
111 May'04
109 14 109 May'06
9713...
97i4J'ue00
91 14 9313 93I4 Apr'06
92
S934 May'OL

112

Sila Sale

8114

99
108181121...
923^

112

93
104
148

991a

91 la y334
89
yo
8UI2

84ia

1101411314
93
93

'Ot

10318 10634
10213 1061a

105
May'O.
Apr'Oi

146 14 160 14
146 "3 14919

I46I2 Apr'Ot
lOOii
lOO'V
I2312
12333 1231^
119 Sale 119
119
94 13 943. 9433
9 11-.
9613 Dec'Oo
10634
10513 Jan '06

100

109

953,

Sl\
Jan

1151a

107

99i2NoT'0o
110i4Apr'00
IO4I2

10434 Sale

109

108 "a

Dec'
Dec'

117
100

106
117
98

123

..]122i4 1221a
1' 113-3 116

yy'3102

,

11814 126

114'8H9
94 14

9712

105 12 10513

ll4i2Apr'02

.

Pa RR

Rio Gr Wes

& North See Un Pacific
& Black R
N Y Cent
.6'ee

1955 FA
Vandalia consol g 48
era Cruz cfePlst gu4 i2sl934 J-J
Ver Val Ind &
^>ee Mo P

99

10278 Feb'06
i0138Nov'05

103

Mid .S'ee South Ry
Southw't l8t gu 58.2003
1st gold 5s
1939
'2d gold 5s
1939
Debenture series A
1939
Series B
1939
Ist laen equip s Idg 58. .1921
1st lien 50 yr g term 4s. 1954
Det & Ch Ext Ist g 5s. .1941
Des Moin Div 1st g 4s. .1939
Om Div 1st g 312S.......I941
T0I& ChDiv Ist g 4s... 1941
St Chas Bridge Ist g 6s. 1908
Wab Pitta Term Ist g 4s. 1954
2d gold 48
1954
Warren See Del Lac & West
Wash Cent See Nor Pac
Wash O &
-See Southern
West Maryland Ist g 48 ... 195 2
1952
Gen& convg 4s
Pa Ist g 58.. 1937
WestN
Gen gold 3.43
1943
Income 53
dl943
West No Car iSee South Ky
Va Cent cfc P Ist g 6s. .1911
I8tg6s...l926
Wheel'g&
Wheel Div Ist gold 53. .1928

10278 105

Virginia

Va &

A-O
M-K

88

J-J

J-J
J-J
J-J

111

J

IIIS4
IIOI4

J

J-J

112

J-J

102

J-J

97128016

J-D
J-D

92'4 dale
90iu

9718

lOOTg
8714

22

9II3

98ia

87 14
99
106
111
106

HI

11113

106i«
107 14

May'06
111^8 May'06
nils Apr'06
96 T'ne'06

97

12713

98i«

89
99^8

106
IIII3
1061*

Feb '05

1031-.!

109 14

90

111-4
106i>

968b

91 la 92
109 12 110
24 99
10234

98ii3May'Ol-

<fe

110

97h 210 94 19 97 V

87 14 J'ne'06
99 Mar'06
106 Feb'06

VG&Nlstgug5s.l924 M-N 106
W T 1st g 58.1933 M-:n 1041^107
1st guar OS red
1933 M-N
H&TCl8tg58intgu..l937 J-J 111^4

Waco&N Wdivlstg6s'30 M-N

110

871^1

95 "2

973fe

IIOI2IIII2

98S.

'

Sila

Consol g 6s int guar...l91'2 A-O
gold 43 int guar. .1921 A-O

94

96I3 97
107 '8 10934

Jan '03

92 ^
92 "i
91 Si May'06
109 13 Feb '06
101
1011.J

J-J

1931 M-Ji

861a 92
101 10314

109i3Mar'05
llOiii May'06
110 Jan '05
110 May'Ob

1091-2

J-J
-

88»4

101 10ia< 101 14 1013,
92
92 7( 95i8Ai)r'06
9612 Mar'06
971a 99
106»8
109 12 May'06
105 "a

jM-S

F-A
F-A
Mortguar gold3»2S../cl92y J-D
Through SI L 1st gu 4s '54 A-O
Gal Har<fe SAl8tg68.. 1910 F-A

103*1^

105 i^

110

1113^
lllii
9914

111

96

Feb '02
i>lI&>CEL.t,ANEOi;s>

Wabash

W

Y&

W

LE

J.J

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

M-S

JJ

J-J
J-J

115

112 13 Apr'Ot
11334 Sale" 113^4
114
10534 107
iOO's 107
9734
y73.
83 13
84 Sale
85^1

101 la
93
II0I4

A-O
M-S
A-O

84

84 14 Sale

8334

8938 Sale

39

A-O
A-O

86I2 87
7434 Sale

J-J

A-O
Nov
J-J

A-O

95
30

96

IO8I2.
IIII2.

7212

93
108

89
98

Wis Cent 50-yr

911a 92

S6I4

93
110

84

841.1
66
40>., 108i

851a

8278

9OI3

34 Sj 4II4

84

84^8
89
743,
75 V
llO'sMay'Oo
95 May'Ot
30 Maj'OL

69

88^
76\

11678 118
94 S? 97=8

30

31

109
114

109
109
114 Jan'OL
112ioFeb'0'

FA

114

87 12 98

102 Dec '05
93 Max'Ot
110 J'ne'06
97 Nov'04
85 la May'06
97 May'05
109 13 Mar'O:

J-D
J-D

J-J
Exten<fe Imp gold 68...1930
let consol 4s
1949 M-S
20-year equip s f 08 ...1922 J-J
Wilkes & East ,See Erie
& SiovLX F ,Se« St P <fc M

RR

1-.

981-..

108

11278 11613
104 109

109

H4

122 la 112

>9

HliaAng'Oo
89 13
...

90
89
102 14 Dec '06

24

8712

9313

32

901a

95

M

WU

1st gen 4s. 1949 J.J

91<%

92

BONOS—Concluded.
iJliscellaueoua

100
50 9634 10212 Adams Ei col tr g48
194S M-S 102 12 103 103
103
78 .
4 78 14 8334 AmDk<&lmp58 ib'eeCentNJ
78 14 Mar'06
78 14 787e AmSSCoof WVag53....iy20 M-N
10034 J'no'02
88 13 Sale
89 13 i02 81
88 Hj
B'kl'n FerryCo Istcons g 53 '48 F-A 'III™ '47'
90
48 Feb'06
109 109 14 109 !« 109 14
10778 11012 Chic Jc& St Yard col g 5s. 1915 J-J
108 J'ly'06
97 14 63 96 100
9634 97 14 97
DetM&Mldgr in comes.. 1911 A-O
69
70 May'Ob
103 13 May'06
104 ....
1013910313 Hoboken
i gold 5s. ..1910 M-N
Knicker Ice (Clue) 1st g 5s. '28
100
Mad Sq Garden 1st g 68. .1919 M-N
971a Oct '05
Lackaw Steel 1st g 5s
1923
105
105
50 Feb'O:.
1021a 1083^ Man Bch H & L gen g 4s.. 1940 M-N
Nat Starch Mf g Co 1st g 6s 192ti
91
90 May'OC
93 13 Newp Ne Ship & D D 5s rfl990 J-J
93
85
Nat Starch Co s f deb 5s..l92iJ
77
77
77
73
77
N Y Dock 50-yr 1st g 48. .1951 FA 9434 Sale 94 13 943.
Stan Rope <fe T 1st g 6s... 194115
Dec '05
Providoat Loan Soc4i2S.1921 -M-S
99 May'Ob
Income gold 5s
1941
134 .Mar'Of
StJosepTiStk Yds lst4i3S. 1930 J-J
100 la Sep '0
O 8 LeathCo 8 1 deb g 6s.. 191:^
109 1093, 109 May'OO
107 109 13 .it L Ter Cupples Stat'n & Prop
U S Realty & I conv deb g 5s '24
97 14 Sale
9714
95 14 99 12
\)1\
Co Istg 41.2s 5-20 year.. 1017 J-D
U S Steel CorplO-60 yr5s.(t'6;
9734 Sale
y7 "a
99
95', 100
.S Y'uba Wat Co con g 6s.. 1923 J-J
112 J'ly'04
Registered
April 196;^
991.
98 Sale
98
95=810014 Sp Val Wat Works 1st 68.1900 .\I-S
II3I2 J'ly'OO
Va-Car Cliem col tr 5s g..l91'.
100
98 "a
98 iv
9812 101 13 U S R6d& Relist si g 68.1931
103
102
103
No price Friday; lat«st bid and aeted this week. aDueJau 6 Due Feb « Due May j/Duej'ne ADueJ'ly p Due Not « Option Sato
'

981-8

Hj

9734 May'

.

W

'05

94

9713

111-8 May
10913 M.iy'

•'3.

<fc

Syra Bmg & N Y See D L <fc W
'per A ot St D 1st g 4i2S..193y
-L Ist con gold 5s. .. .1894-1944
IOOI4 102^4
125 127
Gen refund s I g as
1953
IIII3II4
St L
Bge Ter gu g 58. 1930
9812 98I3 Tex <fe N O -See So Pac Co
Tex&Paolst gold 53
2000
84 1» 89
2d gold inc 58
y2000
95 14 97
La Div B Llstg 5s
1931

(

...Ills

J'uo'Oi;'

721.

Nor 1st g 68.193'.' J-J
Ry 1st gu g 4I28..1943 J-D

Falls

100i3l02i«

J'ne'06

F-A
J-J

11.1

...I'llO

il-'s! 26,:H5'4 il9'8

Jan

\U\ 113'iMay'Otr

114

I053

Ill'4llli4

...

Apr'OrJ

'

UOH. May'05

li:

'

Jim

io5

119'-2J"ne'0G

98"

92

J-J

A-O

Is

94

Sale

J-J •119
J-J
J-J
J-J -96

M-S
M-S
M-N
M-N

119

1083eJ'ly'05

ioo"

J-J

A O

1

&»3e

11334 Keb'oO
114H>U«-C'II4
119 Jan '00

Il7'2.

.\I-N

1922 J-J

1921
1926
General 5a
1936
Guar stamped
1936
O&
1st cy gu 48.. 1924
WestNC Ist con g 6s.. 1914
S& N
See D <fc N
Stat l8l

10034
100^4

1906 M-N
1931 J-J
1931 J.J
StL& SF RRconsg4s..'96 J-J
Southw Div 1st g 5s. .1947 A-O
Relunding g 4s
1951 JJ
5-year gold notes 4'2..190i^ J-D
K C FtS& cong 68. .1928 M-N
K C Ft S & Ky ret g 48 1930 A-O
Blstgu5s.l92lJ A-O
8t Louis So (See llLiuois Cent
St L S
l8t g 43 bd ctl8.198l) M-N
2d g 4s inc boud ctls.. .2)198!) J-J
Consol gold 4s
193^ J-D
Gray'8PtTerlstgiig58 1947 J-D
St Paul & Dili Hee Nor Pacific
St Paul
& Man 2d 6s... 1909 A-O
Ist C0U.S01 gold 6s
1933 J-J
Registered
1933 J-J
Reduced to gold 4'2S.. 1933 J-J
Registered.
1933 J-J
Dakota ext gold 6s
1910 M-N
Mont ext 1st gold 48
1937 J-D
Registered
1937 J-D
E Minn 1st div Ist g 5s. .1908 A-O
Nor Div 1st gold 43
1948 A-O
192'2 J-J
Uniou Ist g 6s
Mont C 1st gu g 68
1937 J-J
Registered.
1937 J-J
1st guar gold 58
1937 J-J
WiU & S F 1st gold 5s..l93t J-D
8t P cfc Nor Pac Hee Nor Pac
StP & S'x City See C St P &(j
SFePresA Phlstg5s...l94'.. M-S

Mantilacturiiig He industria
Cent Leather 20-year g 53.1925
Consol Tobacco 50-jTg 4s. 1951
Registered 4s
1951
Distil Sec Cor con V 1st g 58. '27
Int Paper Co 1st con g 68.1918
C0U.S0I conv s f g 5s
1935
Int St Pump lO-yr conv. 6s '13

Series
Series

Spok

2d gold 63 Class C
General gold 68
General gold 5s

Gen

8!i

A ()
A-O

1956 M-N
1938 M-S

IV.'.'

105 ^ Mar'. 6
lo7 .vpr'OO
102 Jai. 'O''.

AO

1916 J-J

AU

cS;

PaclstgSs

»0

look's

.M-N

.-

118 ffb'.H;'.
100 Sep '04 i.
U;; Jan '01 ,.
lOiiaMar'Ot;

1223^ Apr'
Knox <fe Oliio 1st g 63. ..1925 J-J
Rich& Dan con g 68
1915 J-J 114=8 Sale 114^8 11
1123.1 Jan
Deb OS slam pe<l
1927 A-O llO-'a
Rich & Meek 1st g 48... 1948 .Vl-N
98 Feb'
Dj5 Mav'
SoCar<fe Ga 1st g 5s
1919 M-N 108
123 Feb'
Virginia Mid ser C 68. ..1916 M-f- 11213.

<fc

W

.'".'.'.

10434

J.J
J-J

5s. .1930 J-J

Con Ist gold 5s
E Ten reor lieu g 58
Ga Midland 1st 38
Ga Pac ±ty 1st g 6s

M.ir'05

98'2

931a 94

-

Mex&

C0I& Greeuv 1st 6s
E T Va & Ga Div g

loo H,

97

Dec '05
Jan '05

lOeisOct

106 >a

"96"

M

'2

><9

JJ

5

.

V

ib'i*

J-J

:?!!

1

.

&
Sag TusGr H iiee Pere jvlartj J-J
t Jo<fe
Isl 1st g 4s... 1947
St L&v & Adiron 1st g 58.1991- J-J
2d gold 6s
1991 A-C
St L & Cairo See Mob & Ohiu
8t L
Iroii ilounl *'e« M P
St L. K C
N Hee Wabash
St L M Br See T Rli A oi St L
St L & S Fran 2d g 6s CI B 190U M-N

Hous E

Div 1st g 412-08. ..1990
St Douis div 1st g 48
1951
Ala Cen R 1st g 6s
1918
Atl & Dauv 1st g 48
1948
2d 48
1948
Atl & Ya<l 1st g guar 48.1949

J'ly'97

Sale

Ist gn 4s g.l94b J-J
1st gu K48...104i' J-J

Seaboard Air Line g 43 ...1950
CoU ir refund g 63
1911
Ati-Birm 30-}-rl8t g 4s.el933
Car Cent 1st con g 43. ..1941'
FlaCendi Pen 1st g 5s. 1918
Ist land gr ext g 5s... 1930
Consol gold OS
1943
Ga& Ala Ry let con 5s 01946
Ga Car & No 1st gu g 5s 192ii
Seab <fe Roa l8t 5s
1920
Sher Shr & tio See
K&T
8U Si) Oca & G See Atl Coast L
Sod Bay & So 1st g 03
192<i
So Car & Ga See Southern
So Pac Co— RK 1st rei 48.195f.
Gold48(C6ntPaocoU).A;1949
Registered
/cl941i
Acfe N
1st jfag53
1941
Cent Pac Ist ret gu g 4s 1949
Registered
1949

AO

Mob & Ohio coll tr g 4s.. 193.> M-S

Mar'06

98

,

111
102

199 J-J
1997

A & A P See So Pac Co
8 F & N P Ist sink I g os.l919
Sav F & West ,See Atl Coast L
Scioto Val €& N E /See Nor & \\

12.:
11;.

J-J

1943 J-J
1994 J-J
1994 J-J

Mem

120

,

B KA P
N Y Cen.

Cham

Rut-Canad

II5I3II5H

iSee

Rutland 1st con g i^a
Ott&I>

11 2 4 1 1
llO'-j IK)!..
110 llli-^

1

115>iiMai'06.-137 Not'

115V,
117

Jersey Cent coil j?4s...iyoJ
Rensselaer & Sar iSee D <fc H
Klch tfc Dan .bee South Ky
Rich <fc iMeck Hee Southern
Kio Gr West See Ben & Kio Gi
Kio Gr Judo 1st g-u g 5s. ..193'.'
194li
Rio gr So 1st .nold 43
Guaranteed
1940
Pitts

Apr'iit;]

loi.jJau'06
liu Apr'OO

120 Oct '01
112i2Dec'0'J

&

Rome Wat & Og

•'•«

SA&

V Cei

KcKistcre*!

J.J *103'i, 103

nil

Xex&NOSabDivl8tg6s.l912 M-S

Pitts Sh ds 1, E l.st s OS.. .1940 A-O
Isl consol gold OS
11)4;^ J-J
Pitts cS; West .see M A> O
Ash 1st con 58.1927 M-N
Pitts V

Co gen g 48

AO

1907
K
Guaianlteil :;ohl5B
1938
Ore 6i (;al Iki ifiuir g 58.1927
A Pass Ittlgug 48. 1943
So Pol Argu Isl g0«...ciyo9
1st guar ii 6s
ciyiO
S P ot Cal Ist ir 6s(;.t D 1906
isl fi 6s series K<fc F...1912
IKI aold 6h
1912
Isl con guar g 58
1937
St-aniped
1905-1937
.SPacolN Alex 1st K 68. .1911
.So Pac Coast 1st j:u 48 g. 937

K-A

Pine Crock reg guar Os... 1032 J-D
PltUs Cin & St L bee Peun Co
Pitts Cleve & Tol Hee H & O
Pitts Kt \V <fc Cli ,Se« Peun Co
Pitts Jiuic 1st gokl ii»
l'J2'.' J-J
Pitts & L Kne 2d k 5s...aiy2h A-0

cfe

110'-.

or

J'l
[i< JaiKinrii
Nal^ 1-5

Luu)
/f <(//•{ A0|!
12^,"3Nov•U^

NoolCall-.!

109

ttK'i

Jiaiif/f

J.axt

:>

u I'm; (:„—( Conlinnenj
.Wfii«an'H l,a JL; T iBt 7n.l918
iMt uold >;,..
1920

Dcc'O.

:>•.

II

rrtixay

Jtme

>tiiiiii>;i

Apr '02

11

lli'^
loo^"*

IVt'iii
>!

ll'i

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Ko

Jan-

lOi'

J-D

11)20

Os
1st

i»

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ly.il

Pliilack UeartiUK cou.sTs.lSUl

t;

Htol>
llOS. Feb '06

L

lUiil

PnilBdtW 6f«l'eimKU

Heiidiu

Low

^ \\Ja»uary

llO'-j.'^ei) 'OJ

til'.li;!

Pero .Marq— CUife
ilintiV:

l"^

.Nasi

CCC

Kost

.fc

Peo.v. l>ek

ylati

106 >a

I'liila Hal A:
bill: •:^

U >

Last f-aU

l'>

Mm

i^ontinueUJ

(

Jim-

Pncr

STOCK KXCHA.VGK
Wkkk Kndini. JunkI.'i

N. T.

Jianijr or

99 12 Sale

991a

78I4

,

102

78'4

h&

104%

46 1^ 58
70

94
99

98
99

95

IO213

ORICAOO STOCK GX0aAISr:JE-3tock
ilTUChi>—HJQHh.ti'l

Monday

baturtiaii

June

Juno y

AND LOWi-HT SALE FHIOEH
Junt'

CHICAGO stock;
KXUHAXliE

i .5

Range

Jiange /or Year

Sales

Thursdaxi
June li

W'Unesdaii
June IS

luesdau
June 12

J 1

Reoori-laily. Wee^dv and Yeirly
1^00

01 the

frenous

'or

Year(l9iJ5)

Heek
rxuvest

Lowe.tt

lli'itiest

Hi(jliesi

Knilroa<l!!i

•170

•170

185

"Vs'i*'"7"
24
24
54
51

"'^'h."'i"
24
24
54
64

Gih

•i67'»4

bU
30
72
48
18
U8
yi»

•2b
•71

48
28
•67
y8

•;i7*4

47 \
28
6'J

102H 101

'101
37

102
40

99
29

28^4

28^4

38

37

.

*23
52 '9

5234

4^8

Co
53 't

5338
5

4\

5

'62"

25

•12
0034

"6'2"'

89 '8 89^
89
29
V!8'ii
28 Hi
70
70
70
47 H2 *
47H2
•27
28
28
•67
68
68
99
99
99
29I4
29
29
102 *101 102
•34 Hi 38
38

*t;V

V9

47-'8

May'06 Ohic City Ky

ia:j

Last Sa'-e e'p""

"7'

*23

54I4

89
29
70
47
-27

71'-^

*27
67

"-'6'i4'

"6'rii"6'i''2

tO
30

'2

'"7"

Last fiale
'

25

54

13V
GUj

'

2 'J".,

*28>.j

•101
•37

'88
-29
*70

•23

b^

5
•12H!
Ul'4

61'-.

*bt<i-2

"•i\

n6734l»5

185

61^4
89^4

b9->i

28
28 Hi
•G9H2 7IH2
•45
46
•27
28

67
•90

'J7

98
29 17
102
37

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101

*:.4H>

& uak

uo

2.>
5:!

14

Xaus Ciiy Ky

M)

6J'4

l.li'l

Metropot

lOu

.ire!

Do

""bO 22
;-(;)

l^i ..10(]

<fc

1,2

100
to Kier..lOU
71
Do pref
100
46 XorthChic street
100
2?7^ North wegteru KleT..10t.i
68
Do )?rel
100
99
South Side Kiev
lOti
29 >e sitreeta WStaOle C 1. lOU
102
lOU
Do pret
37
West Clue Street
100

*40
2734

•66
i)6
29 '«
102

34HJ

76

pret

W

Apr

6(1

^ii

.-VprSO

9(1

MarU

25
24

51

60

361

i

475
371
50
20(1

89
27
98
23

May 5
May J.
Hi

Apr 3

May 18
Jan 26

Apr 10

28

J'ly

Oct

6S'.iFeb !
93 Hi Feb h
30 J'ne 8
72 'a Jan 13
85 .Marl2
28H2Feb2,i
68 Hi -Mar 1
9.t
J'ne V
30 14 Mar 2
102 J'uel.^
60 Feb 19

-

734

6'8J'llf
26 J'lv

2

46i4Marli

r.

'Z'i

16
4(1

l'el)2(i

I3I4

l2H2Ma)lM
54 ^i Jan 2
88Hi.I'ne

4"j"'ij'

Mayl'

,'Vt

8734

93
28 H:
73 "4
99
Ma\ 26
Mar 68
May 100
Aiid 30

21
iii)

1$

Jan
Deo

Aug

13 'g Feb
Feb
51
60 Sep

30 .Tan
82 Hj .Tan
20 Jan
59 Hi -Jan
55 J'ly
90
27
96

Oct

Jan 205

5 180

28:<s.laM

?

4'8-J'nelJ

41:j

Jan

""7'''JF"ebi"7

April

44 Hi Mar

610

10(J

14
61
89

89
•26
•69

""6"May"2

10(lOi;

Subway

OlucUu.on Tract

Do

155

lOv

ParK

prel

Jhicapo

i\

438

Marl 6 200

lOd

Ky

P;iM.s

J'n'e'b'o ijhic

"23
52

15

Jhic

1-4

Dec

Sep
Oct
Sep

Feb
Dec
Oct

Aug
Sep

10314 -Mar

J'u.

Feb

Dec

14

4 Apr

40

72

i>lUcellaiieous
713

71.^

62 >2
•120
•130
63 Hi

62 V
125
135
61

738
62^4

120
•l;!0

63

03^4

{ii

•147

63

40
40
llOHallOHj •1H»8112
•57
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60
60
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7

149

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148
54
121

148
54

149,

•116 Ivil
•108H3 109
120 120
63
53

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120

•

120 125
*02Hj 53 H

125

6218 52 1^

"4'o"

J'ne'Or.

•38"

14S

150

•53
118
108
123
•52

65

"4'o" Booth (A; 00
Do prel

& Chic

67 Hi
115 "4
•89
•119

08

66

ao

H»

116HjU53,

1155,

Apr '06

•147
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118

Do

Chic
52 H Chio
118
Jluc
109H, Clue
151)

90

90

•

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"6'7'^4

90

•88

12014

*

8u

Feb'Oi.
J'ne'04

Deo '04
May'06

"661, Xational Biscuit

??W'4

J'ne'Ob

o-<4

May '06

131
104

131
104

131
103

luiK

i'oTi^ i'o'4»4

ioi"

131 '4
103Hil03Hj

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131 I3II4
103 Hi 104

132 lb2
103H»104Hi

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1311^1

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10>4

zl\}2h
135

10»
126
104 H,

103

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38

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10^4

10 "s 10 14
39

Last Salt 35

9^4

«'8

L<fe

&P

J'ne'Ot

Mar'OC
Mar'06
Mar'Ot

5534

Last Sale ii'4'"

M'a'r''j'G

Lastsale S5^

Feb '06

Last Sale

Mar'06

63g

834

60 Jac 73 Ha Apr
76 Jan 110 DeO
125
Feb 134 Deo
08 Jan 5934 Sep
"8 Jan 105 Hi Mar
98

Feb 28 28 Apr 24,
4:)
36 Jan 23 40 Feb 6 35 Oct 40
100 108 Jan 25 llJHiJ'no 1 105 Mai 112
65 May26 64 Feb
50 J'ly 70
16838 Mayl8 175 May:n 148 H2 Feb 150
16 Feb 1.1 16 Hi Feb
10 Jail 10
17

"2'3"3

Mar

Mar23
7
Apr 26 165

145

225

49
87 lol
5(. 103
1,252 ii8
2V0 50

May

6

i

Apr27

May

3

J'ne 6

Apr 26

"7'978 Fe'bii'a

Mar

1

6

J'u.

34

Bid

Amer Biscuit 6s
1910 F-A
Amer Strawboard I8t6s..l911 J.J
Cass Ave
F G(StL,) 58.1912 J.J

Ask.

P ColOO
100
H)h

4'(i"May'2'2 '47"4jan"3'i
134 May 29
2 Hi Feb 3

'

'W-'V.'.'.

1st gold 5s

/i.1926

J-D
J-J

J-D

.

J-J

AO

Chic Auditorium Ist 5s... 1929
Chic Dock Co Ist 48
1929
Chic No shore Elec 6s. ...1912
Clue&MUElecKy 5s. ...1919
Chic Pueum Tool 1st 58 .al921
Chio Kock 1 & Pac KK 48.2002
Collat Trust g 68
1913
Commonwealth Elect 5s.bl943
lUiuolB Tunnel 5s
1928
KansCity Hy& Lt Co 68.1913
Kniekerb'cker Ice Ist 68.192b
Luke street El Ist 58
192b
Income 58
1925
Metr
Side El 1st 48
1938
Extension g is
1938
NorcliChie St Ist 5s
190d
1st 68
1909
Kefunding g 4His
1931
No Chic City Stlty 4Hi8.1927

North Weat'ii El Ist
Ogden Gaa 58

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

'.

W

4s. ..1911

Pearsons-Talt 68
4-408
4-608 Series
4-808 Series
People's Gas

1945
1916

E
F

L&C Ist 6s. 1943

Befnndingges
Clue Gas

Lt&C

1947

J-J
J-J
J-J

South Side Elov 4 Hjs
Swilt& Co Ist g 53

Union El (Loop) 58
Union Pacilic conv 48
United Box Board 6s

West Chic St

1924
1914
1945
1911

1928
Tunnel IstSs
1909
Debent 68
1914
Consol g 6s
1936
West Div City Ky 4 Has. .1932
West'rn stone Co u-20 6s. 1909
l8t 5s

103

J-J
J-J

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

M-N
J-J

A-O

Feb'06

84H!J'ne'OU
79 Nov'04

i'9'9'" "9"9'>i

100
93
87

93 Hi
88

99i8J'ne06
98 May 06
16 May'05
93

93

87i4May'06
90 Mar'06
90 Feb'06
92»4 Feb'06

93
934
96
96
96
100 Hi Mar'06
i'o'o'i-l
9978May'06
99Hj
100
9934
100
100 Apr '06
100
120 Apr '06
Apr'06
i'0'4" 105
107 107 May'06
104 14 Mar'06
103 Ha Feb'06
102 14
102 IO2I4 102
101 'a sale 101 Tg 10 Pe
101 H> 103 lOlHaJ'ne'Oo
114 Nov'04
<J6
66
1:66
Sale
95 May'06
95
68 Hj Sep '05
93

72
65

Sale

'a

Sale

69

75
92

70

10034

99 7g
102 Ha 103 14
101 101

104

104
102
9534

10334
9634

87

87
'id'

"96'

Apr '04

lOSHi 103HiJ'ne'0(
93 J'ne'06
93
99 Hi J'ne'06

t

A-O
M-N

Ist 53. .1937 J-J
Consumers' Gas 1st 5s. .1936 J-D
Mutual Fuel Gas let 58.1947 M-N

jan'Ob

80

J-J

Feb
F A

eS'gMay'OO

87

83 Ha 85

Al-N
.M-S

A-O

1

Migh No Low Migh Bankers National

963^

J-J
J-J

M-S
J-D
M-N

January

102 Hj May'Oti
101 Mar'Ob
103 Apr '64
59Hi 59 Deo '05
104 Jan '06
J'ne'06
i'o'2'H 102

F-A
A-O
A-O

72

Api

5
"i'0'6 "9'2"j''ne'i^'
1,841. 10114 Jan 17

IVy 115

May

93"!^ M'ay'l'?

•Si'^l

109H2Marl2 101

Maylh

152 101

'

152 Hi Jan 5
8 10634 Feb 15

Jan
Feb
Deo
Feb
Dec

Aug
Nov
Nov
Oct

"4'8'i^Aug
2 ^ Oct

Jan

1..

i',6'6'.'

1,187

"'iiiM"ay"2
10 May 1
37 Hj Jan 20
534

Mar

36H2Mar

"156

7
7

3534 Mar 7
9 Hi J'ne V
1414 Mar
8614 Feb 2;i
6 Feb 24
'.

...

'v

May'06

90i.jMtty'06

96HlJau'0b

103

Ha

gox*

99 Ha
99
98

105 'f,
96
100 >4
100
100

9234 95
8 7 'a 89

90

90
90

90

92 14 92^4
92 14 9434
89 100 14
100 Hj 100 Hi
99 Hj 9 9 •'8
99 '9 100
00 100
120 120
10434 10534

107

108

104

14 lOS^i.

103 Ha
102
101 Ha
101 Ha

103 Hi
105-V
103 '«

105

Hi

08
101»4

60
55
89 Hj
96 Hj

85
84*4

95 H)
96 H

Chicago City
Chicago Savings
Commercial National
Continental National
Cook Co State Savings
Corn Exchange Nat..
Drexel State
Drovers Dep National
Federal National
First National
First Nat Englewood..
Foreman Bros B'k'g Co
Fort Dearborn Nat
Hamilton National
Hibernian B'k'g Ass'n
Kaepar State Bank....
Manufacturers Bank..

Milwaukee Ave State.
Monroe National
Mutual Bank
Nat Bank of Republic.
National Live Stock...
North Side State Sav..
Oakland National
Prairie National
Prairie State
Pullman Loan & Sav..

South Chicago Savings

Bank of Chicago.
Stock Yards Savings ..
U uion Bank of Chicago
Union Stock Yds Staus
Amer Trust & Savgs..
Central Trust Co of 111
Colonial T^ust & Sav..
Drovers Trust & Sav..
Kirst Trust ifc Savings
Illinois Trust & Sav..
J.acksou Trust & Sav..
Kenwood Tr & Savings
Live Stk Tr & Sav Bk.
Merchants' L'n&TrCo
Slate

M etropolitan Tr

<fc

Sav

Northern Trust Co Bk
t'ooples Trust & Sav ..
lioyal Trust Co
Union Trust Co
Western Trust & Sav.
aidoTTcfc Sav Bk..

W

$2 ,000 ,000 $1 ,087,246
100 ,000
34,153
102,327
600 ,000
& 70,942
600 ,000
,000 ,000
,000 ,000
50 ,000
,000 ,000
200 ,000
600 ,000
600 ,000
,000 ,000

100 ,000
500, ,000
,000 ,000
500, ,000
,000 ,000
200, ,000
200, ,000
260, ,000
200, ,000
250, ,000
,000, 000
,000, ,000

50, ,000
fc50, ,000
260, ,000
250, ,000
300, ,000
200, ,000
,000, ,000
250, ,000
200, ,000
200, ,000
,000, ,000
,000, ,000
600, ,000
200, ,000
,000, ,000

,000 000
250, ,000
200, 000
200, ,000
,000, 000

750, ,000
,500, ,000
•200, ,000
600, ,000
,000, ,000
,000, ,000
200, ,000
200, 000

Woodlawn Tr&Sav Bk
Note. — Accrued interest mus t be added to all Chicago bond price 8.
Dividends are paid Q-J. with extra payments (4-ir.
1) Includos special dividend of 3l>;^ deolare<l Aug. 10, 1904.
t Apr. 6, '06 for National Banks and Apr. 7, '06 tor State in.stitutious.
* Bui and asked prices; no .sales wore lUAde on this day.
t No prioo Frklay; latoat price this week.
aDueDeo. 31. (> Due Jane. A Duo July, ^f Capital and surplus to be inoroaii«<L
II

"^4

'444 Mai'
2

J:-u

7

21'4J'ue
23 Mar 7 19 Sep 23
May 2 ,1 Feb 6 5234 Aug 6734
1,1 2l, 62
536 113 Ha Jan 4 llSHiFeb 5 II034 Aug 120 Ha
15 78 Jan 5 95 Mar 3 41 Jan 80 14
115 Feb 21 122 Hj Mar 9 110 Jan 120

Outstand- Surplus d
ing
Bronts]
Stock

NAIYIE

Since

Calumet National

<fe

Chic Board of Trade 48 ...1927
Clue Consol Br & MltGs
Clilc Consol Trao 4 Has
1939
Clue Edison debent 6s
1913

Mange

or

Last Sale

Low

Jan

172
58
143 Ha
118
145
67
42
75

';

534

Oct

Deo

Mar
Deo
J'ne

May

May 11034 Ape
Dec 114 Jan
Jan 165 Deo

46
86 Ha Jan 109

"234

1714

42
534

36

Hi

Jan I'i ""i^j''ly
Jan 20
8 Aug
Mar2V 23 Feb

Ha

Nov

2 "a

16
41

Apr
Deo

Aug

Feb 2b

Mar

',

4434 Feb 21
14 14 Mar2ti
1534 Feb 26

85i4Feb2o
6'<2Feb26

...... ...«

Dividend.

Mange

Oct

Mar

Chicago Banks and Trust Companies

Week's

Price

iVidau
June is

Aug

1

Jan 16
6 J'ntFeb 15 153 J.in
63 Feb 9 32 Jan
139 Jan 15 125 May
118 Jan 9 95 Apt
147 Feb
134 Hi Feb
7134 Jan 23
55 J'nt
11 Feb
'8'6"K'e'b2'b
MS Feb

100

pre!

Western Stone
Mining
26
Adventure Con
AUouez
25
Bingham Con Mining. 50
Black Mountain
20
Daiy-West
15
Xo Butte
10
Shannon

CMcago Bond Record
CHICAGO STOCK EXCH'Gi.
Wkkk Endinu Jdne 15

Jan

1.

Co ...100

'"i'h Unit'd Box Bd<fe
lOH,
Do pref

10

Last Sale 5^8
Last Sale 36 -M

LattSale

C'kelOO
.SwUl&Co
100
The Quaker Cats Co. 100
100
Do pref

Do

i

iOl

"iot)

Do pref
Page Woven Wire Fence
Do pref

Dec '04 Union Bag

"T^

"'i'^"TK

Xatlonal Carbon

Jan 20
Jan 25

1^8

1

100
100
100
100

pret

Gas

72

60

116
90

"d'i" People's

1

2

9 129
May2ti
May 11 136 Jan 17
Jan YA 64 J'ne
Jan 11 10934 Apr 4
l<'eb

6I4

lire!

Do

',39'y

S

May

583^

115
130
54

2:-,

ChioBrew'g

"e'e"

Laslsalc
Lastsalt

DlOU

100
Pneumatic Tool. 100
Telephone
100
Title & Trust... 100
Diamond Match
100
Illinois Brick
100
Knickerbocker Ice. . . 100
Do prel
100
London & Chic Contr....
ilanutacturers' Fuel
.Masonic Temple

116
-88

116
90

"9'2"'

131
•103

<fe

pret

"6'ti""6'6'i

116
90
121

116

lOU
100

116
•88

"67""'t}7'4'

"'t>7»4

Co

Canal

i

"2'o:"

Edison

Do

11534 116

lOu
lOu
100

Mar'06 Chicago Auditorium
Apr'Oi) Clue Brew'gife Malt'g

.»IU<fc

21^4
67 14

lOu

May'Oti Central Trust Bank.. 100

Last Sale 1?
Lastsalt 9
Last Salt 46

2H4

401'

7i4May

725

10(1'

Do pref.
Amer Straw Board

J'neOU Cal

118
109 "lod
121
12333 1233^
53
5314
63
Last Sale 52 14 Nov'05

LastSaU

100

American Can

112

Last Hale 5^H?
Last .Sale 173
Last Sale Id
Last Salt 1
Last Sale 6I4

53
120
109 H
124
62 H.

108 Hi
124
62 H.

62

llOHsllOHi •1U8

7

•115
•

12514

:3:J

62 -^

''3'8'"

160

63

i08HjlOJH2 n08Hil09

62

'i'l;

GJ*

148

714

00 H.
Do pret
J'ue'Oo ^Uner Kadiator
May'Ol
Do pret
62
Amer Shipbldg

Last Hate lOa

40
112
60

•

•57

149

7

LastsaCe

"2"6" "2'7"'
*

'"i"

'i'l^

'SU

130

714

GO

Lasifiale 731

125
134
63

•121)

'W
"38Hi 40

.......

"Vf

125
134
63

*'.'.'.'".

27
27
•38 Hi 40
*
112
57 60

7I4
eo»<

714
j;60Hj

7H;

62 14
•120
125
•130
1W5

.873,388
,022,986
2,932
,873,740
17,482

In
iyu4
8

8

10

'i'J

i^-J

J-J

'i'i

6
12
6
8

8
6
12
6
8

y-J
Q-J
y-j
Q-J
y-J

288,844
63,905 Began bus in ess
Q-J
1112
,220,865
10
126,663 6+4
(,i-J
Priv ate Ba uk
609,470
6
279,443
6
(i-J
164,981
J-J
,076,449
52,665
Q-F
15,952
J-J
6
279,980
6
18,690 Suceo d.Mfrs 'Bk.
56,91b Began busm ess
6
(i-J
,012,467
6
,276,294
5.416
fc26,03i

12+3

12+3
6

6
6
"1138

187,634
8
43,966
5
762,103
6
118,764
27,710 Began
28,130
'7'
,210,506
916,6-8
4
630,035
5
67,424
6
,191,005
,724,661 12'-f4

Apr

6

"s"
8
4
8

J

an

Apr
Apr
Apr
Apr
Apr
Apr

(i-j

ti-j
li-J

12

'06,
'06,
'06,
'06,
'06,
'06.

3
2
l"*

3
!>«
2

'06, 3
'06, 2 "a

Apr

'06, IHi

.\pr

Jau

'06, 4

Feb
Jan

'06, i
'06. 3

Mar.
Oct

2,

Apr
Apr
Apr
Apr

y-J \pr

.'•),

1906
1905

'i)6,

IHj

'06, 3
'06, l>a
'06, 3

'06,
'06,
'06,
'06,

a
2
I>4
i

'06, l>a
'06. 2

+'4

Apr

06, 13*

Mar
Apr

'06, 2 Hi
'06, 1H»

Apr

5Ha W-J
5 + 5 y-J
6
ti-J

None
62,442
20,261 Begran Jan 3,
6,732 Inoor porale
,842,801
12
6
291,428
6
8
,606,126
8
36,610
"0
4H5,70S
710,172
241,981'.
6
6
3,994 Began buslu
17,940

2

Apr

None
May 1, 191'
None y-J Apr
8

'06,

'06, 5
'06, 5

Oct 16, 1905

Apr
y-J Apr
Apr
Jau

61,836
80,79tj

Last Paid

None Jan Jan

8'-+-5

8

Kecord

in Per
lyuo lod

'06, 1

190

M arcli 1905
q-J Apr '06, 3
J-J Dec '05, 3
(j-J Apr •oa, 2

il

F-A Feb

'06,

3

Apr

'06,

1H»

Sep
Q-J .\pr

'06,

(i'-'j

ess

6,

1905
l^a

)hWn STOCK
-nurr l'ric«»— N"i
oaturaafi

June 9

<au

,»">ii

June

Jim 527

2

'-i

EKOHA^^'^^-Stoo'i
Tn.urtaa<i

BOSTCJN bTOCK
EXOHANliK

Jane 15

June 34

oi

Kantie

lor year
lUOfi

Hanue

Sattk

•>•• Oniiiiil I'rico-

WfUnexilay
J, tie 13

WeeVJ? ani Yearly

ile-.ori Bail?.
th,e

Wfek

hinaeKi

Uiillteii

Lowest

S>iitret

'or l^revioui

Year(lW)o)
Hiil'>-eil

K:iilron<N
93 "s Mai
.-.0
«C'4 M«y 1 90 '8 Jan 13' YT-'sMa)
88 H( Atch Top .fe Santa FelOC
991-^ Jan ll05-H,S»-p
3
1 0.'i ' J au
.M uy
lii'lOO
100
Do pr.:l
Apr
103 H
I)<-i-i261
2.'. .14 I'e'' 19, 253
103 H
102 24h J 'no 14
102 Si 103 Hi
248 Boston & Albany. ...100
21s
248 248
J'm-12il60 .lauM l5.' Novil58H!Apr
247^249
ji'J
6t)ll.<2
100
IJortlon Klt-VKled
41 .Ma\ 249 Mai
152
153H 152 Si l.')3 Boston <fc Lowell
J'i)C-12i240i-2Apr 2
152 152
2u8|2oh
152 152
100
•23.-5
240
De,; 185Siilai
17.)
23H 240
100
^' Uh Jau 2 l.-oi-j.^pr V
238 239 •238 240
39 •J-.i^
'^40
Boeton <Sj Maine
Apr
"23!J
175
175
l<;l/0 J'lie 7il75VjMuy 4 i71 Jan 311 Deo
100
177
Uo prel
IH 17S 170 1.'.' 170 175 •iYd" 175 175 175 iVo" i70
175
170 173
56 310 J'uo 9|314'',. .\pr24 U15 Jan 35 Mai
i';o
Boston <fc Providence 100
170 170
310
314
310 314
39SaApr 7 l.JSa Jan
•25
Janl7|
28;>
310 310
Boston* Wor Kloo Co
310 UIO •310 312
36
36
b3Sa<Jau 82 Ha Apr
•36
37
3S
37
"" 72HaJanl6i 90 Apr
38
37
37
Do pre!
-30
37
Mai
89
•b8
88
89
88
8S
89
30 100 .Ma) 26 182 Jau 12 :„) Jan 162 Feb
•88
as
h8
tS
*87
163 ChicJmic By <fc U S YlOO
163
.163
I22HaMai20 127 Jan 16 123 Nov 132 Mac
165 165
100
•IGO lOS
•
1()5
Do pref
LastSale iii':i"' J'ne"0( Gon& Mout Cla«8 4..100
8834 .May 31 190 .Mur24 lrt6 Jau I8934
.. 123
'
rj3
123
160H>-'au 167 Aug
hast Sate 1S8\ Muy'OtJ t;ouii & PasH Kiv prel 100
163 Apr t. 163 Apr
.',00
Aug
Apr '06
hast Sale :n3
297 Ha Apr 3 298 Apr 2 285 Jau
Mai
Apr'OO Connecticut Kiver...l00
I'--'- 148
3'
s III
141
Last
70 137i4.rnel2 145 Jau
100
KitchUurg pret
13
137=8 137-'>, -13734
Jan 8 107 Apr 27 59 Hi Jau •j2 Oct
137 H: 138
V5
137^4 138
13>'
100
139
May'OiJ (ra Ey& Klectnc
11J-:
Jau 96 Nov
,s6
95 Jan 2
Last sale
92SaFeb
lOo 110
*106 110
100
100 110
Do pro!
•lOG 110
Miiy'OO
Last Sale •ji
•91
93
Mar27 198 Apr 13) 175 Jan 192 Dee
197
91 93
•91
93
100
93
•91
Apr'OO Maine Central
23 J'lie h 1 3 Oct 23 -Apr
LastSale W8
100 2,710 17 Jan
203, Mass Klectnc Cos
'22
^O'a
55 Nov 70 Is Mar
100 1.645 59 Hi Jan 2 7.) J'ne ^1 1934 Maj 2.) '8 Dec
"UK "/"i. " 22 "^ "ii\ 73'<4 74 ''8 2034 22
Do pref
"ii'i"^
71
71
25 '4 Jan 9
73
72
73I4 732HaMayl
100
73
73H2 733.
Mexican Central
215 -4 Sep
73
:?2Sa
i3H Last Sale 1-194 May' 06 N Y N H & Hart.. ..100
4SU a;194 J'nel5 207 '4 J an 27 al9'2!^ Dec lo;
23 H. -2-J^ 231* •2318 24 H. •22
May
IS.4
164 Oct
157 May26 163 Feb
196 I'M '4 19618 196^4 196 196% loy
100
190 196
11)6^4 19 OH
Northern N H
May'06
233 May
Last Sale
230 Jail 16 233 Ha Mario i32 ij Jan 212 Apr
Jan
Sale i3Uh. Apr'Ob KorwicU <fc Wor preflOO
15 205
Last
77 205 May2l 210 Jan
100
205 Old Colony
205
79 Jau 102 Feb
205
2053e'^053e 2115
100
205 205 a;205 205
Feb
205 205
Oct '05 Pere Marquette
LastSale
Jau 15 57 Feb 20: 52Sa Dec 87 Jau
100
Do pref....
"52" 53"
63
53
Marl4 64 Jau 4; 50 Apr 72 i-uS
•54"
56
100
"s'o"
Rutland pref
55
80 Mar 2! 50 Jan 67 S)
Jau 10
100
May'06 Seattle Klectric
Jau 101106 Feb 20 93 s^ Jau 102 Sep
72H Last Sale 70
•70" '"72H • 7o" "iil, •70
202
100
Do prel
I6OI4
113 Jan 15118 Leo
100 loOH •100
100
100 100
100 2,295 139 Sa May 2 9934 Jan24' 95 Sep 101=8 ^^'^
Union Pacific
99 Hj 99 H •9;iH2lOO
149 'f 147=8 149
J an
34 91 May 3
100
151 i5m 150^4 ISfs l.-,0i4l50'4 1 48 Ha
loU^2 151
Do pref
94
94
172 Jau VsO Oct
•94
Apr
94
11 178
•94 Si 95^2
175 Jan
100
•94 Hj yo^i. -yi's 95 1« •9434 95"
May'06 Vermont <fc Mass
93 Jau i02 Sep
LastSale 275
96Sa J'nelO 101 Jau
50 "i'7
97 West End St
96Sa
110 Dec 117 If Apr
llOSiApr
•97
97
98
155 112 Jan 3
97 "a 97 H -97
97
-97
97
50
97 H>
Do pref
112
2118 Jau 31i8bep
112Hall2Ha 112
25i4May 9 25i4May
•112 112 S. 1121s n2H 1121a 112 Hi 112 Ha 112 Ha Last Save 25^4
May'06 Wisconsin Central. ..100
55Si Aut bil'B&ep
100
Do pref
Nov
tiu
Oct '0
Last Sale
150 Feb 5 160HaFebl0 146 Mai 151
Apr'06 WoicNaslKfe RoclL.lOO
Last Sale loO
Miecellaneous
Jan 29 4 Apr
22 May 3 34 Jau27( 19Sa
Last Sale 27-^ J'ne'06 Amer Agricul Chom.lOO
•26
28
May 102 Jau 26| b6 Jan 11614 ."sep
11 91
•26
28
100
-26
28
*26H2 '^^
Do pref
4i4Apt 15 Dec
94 H
94 Ha
29 Mar21
95
95
96
11 Jan
96
3,84ti
•95
96
*94
96
50
•94 Ha 96
2134
22 Amer Pneu Serv
46 Apr -! 20 Jan 36SaDec
2134 22
'^'^^
22 Hi
215a
22 Ha
38i8
50 1,135 30 Jan
22>4 •i'A^h
22 H3 "-ia
Do pref
Dec
39
L30I4 '\la> 15 4
156 '8 Jau h\
39
39
39 "s
39
39-12 40
39 Hj 39H2
100 1,247 128 .May
39 '8 40
140-2
134 14 AmerSagarRelin
133
MuV 2 141 Jau 2.. 132 Ma\ 148 Aug
17;' 131
13Giol36'ii 135 »4 136^4 I34I4 135
100
Jan
IBO^i 13034 135=8 130
Do pref
132
30 14 Dec
135
135 135
132 May 2 i44'8Janl7 1
135 13038 I35I4 I35I4 134Hal36
134H2iaO
138 14 13834 Amer Telep & Teleg.lOO 2,644 34 May 2 4734 Jau -4 21 Jau 47 Nov
138 Sa 139
139 139138 Ha 140
38I4 Amer Woolen
100 2,310
137H2 139
92I4 Jau 1U9 Mar
las'* 139
38 14
38I4 39
40
40
41
40
43 102-34 May 3 11034 Feb 2I
40 Hi
40
100
i^>\
40
434 J^ne
Do pre/
105 14 10534
314 -Mai
4SiJ'ne 7
334 Jan 11
106 lOOHa 106 106
lu6Hal07
10
iuohj iot;''4 1U6H.1U7
4
J'ne'06 Boston i,iiiiad
116 .\ug 124 Jan
•4
43^
Last Sale
•4
43.
434
240 11634 Jan 8 11834 Marl-. 17 Jau 28 Dec
434
ll7Ha II814 Comberl Telep & Tel 100
i
Apr 3
'117Hall^
11734118
26 Jun 4
480
118 118
11734 1173,
•117 117
734 Jan
30 Dominion Iron & St.
29Hi
5SaJ'ly
9 ^8 Apr 1
30
301* •29
5=8 Jan 31
2934
29
1,229
•28
29 H •29I4
•9
Apr
914 East Boston Land
91-4
9
934
J'uel2 250 Jan 13 239 Dec 257 Jan
•o"*
2 b 238
914
9^4
9'-4
y'l
•9
•240
245 Edison Elec Illiun... 100
ISO I4 Jan 9 109i8Mav 191
240 240
240 240
43 161i4M!iy 2
238 238
245
.246
100
Greneral Electric
itJ8
64i4j'ue 7 38I4 Jau 5 1 "8 --^ug
169Sal69Sa 168
44 May
J7lHil71'i>
63 ^e Mass'dmoettatiasCoslOO 25,972 8434 Mayl
62
89^8 J 'ue 7 8OI4 Jau S8 '4 .>i ay
6134 63 '1
6418
63
6234 liS'sl
6 2 34 63H2
100 3,146
I>o pref
62 Ha *i-^'b
88 Ha
88Hi
88 Si 89
190 Mar2 198 Mar ; IS5S2 J'ue 206 Apr
89 >» 89 14
89 1«
ay's 89 Ha
89 14
S9
89
Feb 113 SaDeo
2&5Sa J'ne'06 Mergentttaler L.mo..lOO
1
5
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3 Jan 2
193
'196 197
190 197
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4 14 Mexican TeleplLoue.. 10 i'5'60
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141 Apr 6 131 Dec 14014 Apr
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234 Jau
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i
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10 Jau 17 Jau
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Sep '05
230 ila> 258 Oct
Last Sale
*'.'.'.'.'.'.
10
10
93 220 May 2 46 Si Jan
10
I0I4 Feb
10
100
229
229 PuUmanOo
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2 Si May
2-4 Jau 2'.^
LastSale 2614 Apr'Ob Union Cop L'd & Mg. 25
•26
2
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200
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Feb
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2
2
100 1,519 103i4May 2 bO'sFeo 11 57 J'ut 90 Aug
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81
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4j6'4 Jau2u
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3818
91 May 10/ Dec
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38^8 4018
40
403b
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85 102 14 .May 2 ll3i8Feb 11 40 Mai •67 Sa Jan
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25
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50
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101 Feb
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9 Apr 24
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16
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118 Apr 30 l2.« Mario 113 Jau ii:0
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4 Oct
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12
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11 Jan -6 20 Apr 18 lOHaDec 93 Deo
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3^4
314
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95i4.MayiO 34 Aug
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1834 1884
19
1918
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109 111
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liO ilOi< llOSalll'i 111 111
ill 111
314 Jan
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27
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63
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68
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47
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8
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98
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50
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Pennsylvania Salt
50
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100
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Phil Germau<fe>(orrls.50
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50
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way;
10
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J-J
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1 -J
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Sa V Fla it West 58 '34 A-O
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112
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14

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2d series 6s 1911. ..M-S
3d series 6s 1916...M-S
4th 8cr 3-4-58 1921..M-S
5th series 6» 1926. M-S
Va (SUte) 3h now '32. J-J
117
Fuud debt 2-38 1991. J-J
117'u USSi
West N C con 6a 1914 J J
WesVaCcfcP lst6g'll J-J
110
Wil & Weld 5».. 1935. J J
111

M-N
M-N

paid,

83
99

G-B-S Brew 3-4s 1951M-S
2d iiioome 5s 1951 M-N
Kno.'w v Trac 1st 53 '2SA-U
Lake H El 1st gu58'42M-S
9415 MetSt(Wash)l8t5s'25FA
Mt Ver Cot Duck IsC os.
Incomes
Npt NttO P Isl 58'38 M-N
300
General 5s.. ..1941 M-S

10

Convertible 58. '06

89 Mar 1
107ii2Jan29
32 Jan 17

GaSocfc Fla 1st 63 1945J-J

99

Bait Trac l8t58.. '29 M-N
No Bait Div 5s 1942 J-D

99

$7.60 paid,

--•••*

80

BaltCPas8l8t5s'llM-N
Bait Fuudg 5s. 1916 M-N
Exchange 31-23 1930 J-J
Balt& P Ist 6s in I'll A-O

J

'Year(iyUo)
Lowest

>-j

97

Ctfs of in«\e bt 4s
5-20 yr 48 1925

1919. ..Var

>.,

no sales on ttia day.

99
89

Allan C L RU4al952M-S
Atl Coast L(Ct)ctf8 53 J-D
ibsi^ i0876

liange lor J^evious

i

100
100
100

Atl

Weekly, Yearly

'-2

36
38

Ist pref

Flat price.

1-2

Preferred
50
Georgia Sou<fc Fla.-.IOO

Penu <fc Md Steel con 6s.
Pa & NY Can 6s '39.A.O
Con 48 1939
A-O 10134
Peun Steel 1st 58 '17 M-N
People's Tr tr certs 48 '43 i03"
09
P Co lst& coltr 5s'49 M-S 108
Con&coltr5sl951M.N 1031.2 104
Phil Elec gold trust ctls.
Trust cert if s 4s

1041a

100

2d pref
G-B-S Brewing

1,

Jan 27 48 Jan
Jan 24 2434 May
Jan lO 10 J an
8 1-2 Dec
9
Jan 4
38 -Mayl4 48 Jau 19 36 Nov
14ii2.May
1838 Jan 2 23\ Jau 15
10114 May 2 118 Jau 19 100 J'ly
65 Jlay > 86 J'no 8 52 la Jau
2 78 Dec
178 J'uell 31-10 Jan 10
65'-2May2- 73'll8 Jau 22 G.')13j8 May
47 Apr JO ao i Mar26 40^4 Jan
7:>8Jaull
8^ Jau 5 8 J'ne
21 J'nel5 31I4 Jau 2i 1 1734 Jan
.M.iy 3
83 Jan 23 39^8 Jan
56 kj
4,i-^„ AprlO 4?i»l8 Jau 23
45 May
51 Jan 23 42 Jau
4473 .May
6 134 Mar28 63 I4 Jau3H 58I4 Mar
May 16 101 Fob 15 91) J'ue
H
30 J an 6 32 Mar 1 20 Feb
51

103
100

Bouila
Anacostia & Pot os

ioiji^

NoOliioTraccon5s'19.J-J

m

5

122'* 124

Atlanta* Charlotte. .100
Atlan Coast Lino RR. 100
AtlanCoaaiL (Conn)lOO
Canton Co
100
Cons Cot Duck Corp... 50

9734

Income 48 1939--. M-N

983^

J'ne 7

May

89 ig J an 22
3d May 8
16 Jan 8

104

Welsbach s 1 63 1930. J-D
Wlks-B G<&E oon58'65J-J
BAl/riilKUtJi
Inactive Stocks
Ala Cons Coalifc Iron. 100

'-2

and asked.

lor Year

27'gMay

9834

58 '97 J-J

Pref

^ 102^8
991s 10312

1-2

IIIV2

Leon 5s '54J-J

U Trac Pit gen

New Con Gas 58

63

Ky<fc

100
•510478

10--'

Clias City Ry 1st 5s '23 J-J

U Trac Ind geu 5s'19.J.J
Un Rys Tr ctfs 4s'49J&J

108

GenM4'g8g.l924.Q-F
Leh V C l8t 5s g '33.. J-J 114 >4
Leh V ext 4s 1st 1948. J-D 107
2d 73 1910
M-S 11234
Annuity 68

114

121

lOo

maoie 155
II2I4
10 107
moo's
1196
100 Hz 102«8
102 •- 103 1-i
102^ 10238

101^4 Mar'06
100 Si 101"^ lUOiaJ'ne'Oi
Sep '05
1194
109-''8 Aug'Oo

53 '33. A-O

Con

106'4

Lehigh Nav
RRs 4s g

.314

ioi"

Choc&Melst5sl949 J-J
Ch Ok & G gen 5s '19 J-J
Col St Ky 1st con 5s 1932

Indianapolis Ry 4s. 1933
Interstate 4s 1943 ..F-A

I6I2

4914

490
,593

121HJ

24

1-1

,188

Berg&EBrwlst6s'21J-J
Betide Steel 6s 1998. Q-F
Che & D Can 1st os '16 J-J

131^

113

113

480
45

Terminal 58 g 1941. Q-F
P W<fe B coltr 48 "21. J J
Portland Ry 1st 5s 1930.

Ask

esiij

109

111(14 Is

119916

113

4 >7,s';r3.P-A

Poo Tr stk tr ctfs
Eq II Gas-L 1st g 5s 1928
H & B Top con 5s '25 A-O

16

100

J-D
M 7s 1911
ConM 68 g 1911.... J-D
Ex Imp M 48 g '47. A-O

Alt (fcLVElec

E & A 1st M

23

322
,842
,887

PUli.AUKI.PUl A
P & E gen. M 5 g '20. A-O
Geu M 4s g 1920. .A&O

Bid

98

lOO'oMay't'G
103 'i Apr'06
102»g Jan'06

82

450

480
50 '» 50I2 Philadelp'aCo(Pitt3b)a 50
Sig Philadelphia Electric^. 25
,371
8
243,243,
,0^7
25 Phila Rapid Transits.. 50
24
,823
66=8 70i« 65l»i6 0734 Readmg
50
366
•45 Sj 46
4678 4o1b
50
Do 1st pref
481-2
6
47^2 48 Hi *48
50
Do 2dpief
63 14 63 -i Union Tracton
2S(J
63 14 631.
50
50 11 ,oS0
85
86
85
»5H2 United Gas Impt
*2S
100
30
30 Welsbach Co

rHII.AOIil,PIIIA

103

105

um

1198^4

Highest

"406

6034
838

ConTracof N J

IUI2
Tonopah Mining of Nevl
Union Tr of Ind
100
United N J RRcfcC.lOO 262 ^i 264
501, 51
Unit Trac Pitts prof. .50

(i:\n <t

6334

80

2
6Gia

America 10

tr ctls

103

'0

1 fit 16

Mid

Elec

N Haven

.-.

48 '2

78

2

66 7^

AmRy.scouvoa 1911. J-D

101

Steel.. 10

Easton Con Electric b.SO
100
Klec storage Batt
100
Preferred
100
Ft Wayno <feW V
60
jemiautown Pass
100
[ndianapoba St;
100
Indiana Union Tr
Insurance Co of N A.. 10
Inter Sm Pow <fe Chera.50
Keystone Telephone ..50
50
Prefei-red
KeystoucWatchCase.lOO
Lit Brothers
10
Little Schuylkill
50
UinehiUifc Schuyl H..50

Wilki

«47'j
6314
to'&

707a
4614

.

Al Val E exl 7s 1910 A-O

50

I4

WesUuoroland Coal

46

ao6

J{onds

10
100
50
50
Coke. 100

Frelerred

838

66=8
5034
8'«

20

Jan

\ldO'%Api'06

Mange

16
266
100

Atl City 1st 5s g '19. M-N
Balls Tor 1st 5s 1926. J-D

Ask

Bid

67
51

•S'-4

30

•

20
106 Vj 106 Vi
7934 82 «4
•19Vj

1^8

66»4
'5034

24 S; 25

25

JonsolTracot NJ...100

Diamond State

1934 1934
10^34 1033^
8238 8334

7(|i«71l3jg

American Cement
Amer Gas of N J
Bell Telephone
Dambria Iron
Central Coal

52

36

•4512 46'-4
*48
49

'tiU,AI>KLI>HiA
Inactive Sstoclts
Allegheny Val jiret

52

31563

51

25

1*

521-j

3618

67»i6

8I4

8^'s

25

50
50

52

37

110

109

eoit

American Railw.iys

521^

36ifl

11^4

Z,

"663^

*52

11121^11121^

107i2Nov'05
102 Mai '02
98 12 Mav'06
105
105
102 Dec'O,"
100 Jan '06
111041s May'06

98
105

Shares

36

lOlVjlOliu

Mar'06

103

102

th.e

Philiidelphia
52S4
So'b
11^4

lOlHs

101l4l01»4
104
107

Apr'u6

Week

100
88 ig 88 ig Consolidated Gas
100 lUO Northern Central
50
*:w\ 31 Seaboard (new)
100
>88'-j 90
100
Do Istpret
'»60
60 'i
100
Do 2d pref
I6I4 United Ry & Electric eU
'»16

100
31

100

97
lol'ij

^lO'i'gJan'OS

latest bid

;

Sales

(For Bonds and Inactive

iridaii

Rsv,

100
31

60

,

Aug'04
99

100>^ Oct '05
lOli^j Feb'(i6
1011, May'Oii

1ll21->8

Baltimore

*So\.
lUO^

83112.

J'ue'03
Hi

106a,

FA

Exchanges— Stock Record,

Thursday
June 14

m

ioi"

7712 84
23''8 2519

Aug'05

98a<

Sale

MS

I'rices

Wcdiu'sdaii

75
102

93

FA

"i

112

Philadelphia and Baltimore Stock

Salur'tay
June 9

94

interest in adilition to the purchase price for all Boston Bonds.

Siiiire I'ricpM

173.

1924
Old Colony gold 48
Oreg Ry & Nav con g4s..l946 J-D
192'^ F-A
Oreg Sh Line 1st g Os
971a 99 I2 Repub VaUey 1st s f 6s. ..1919 J-J
122 124 14 Rutland 1st con gen 4i2S.1941 J-J
Rutland-Canadian 1st 481949 J-J
Savannah Elec 1st cons 58. 1952 J-J
101
105
1930 FA
Seattle Elec Ist g 58
IOII4IOII4 Terre Haute Klec g 5s
1929 J-J
1918 M-S
Torrington Ist g 5s
106 106
1 gr g 48.1947 J-J
Union Pac RR &
1911 M-N
97
97
Ist Uenconv 4a
100 101
United Fruitconvgen58.1911 M-S
100i«101
U S Steel Corp lO.GO yr 58. 1963 M-N
1915 F-A
West End Street Ry 4s
1914
Gold 41^8
1916 M-N
102 10212
Gold debenture 4s
1917
137 I3718
Gold 43
Western Teleph & Tel 5s. 1932 J-J
52 96-^8 101^4 Wisconsin Cent Ist gen 481949 J-J
14
96«sl01i« Wisconsin Valley Ist 7s.. 1909 J-J
lo

102 Uj
115

115

118 Mav'04
77 lo May'06
24 Apr'06

115 120
77 4 79
20 --i 22

10434 107

99

99
122

101'al04

Maro Hough .fcOntlst 68. 1925 A-O
Mexican Central cons 4s.. 1911 J-J
Jan 1939 J'ly
Istoons inc3s

".J

91

94
1041^

lOD-ij

IOII4 Sep '05

"ii" "90"

9:

93
100

Apr '06

115

J'ly

10434 May'06

99 "s

AC

99 'g

102^4 10'
99=8 Jail'

92

W

IIH4

May'

"98" ibo"
IO5I2IO6
PiO 1231a
99
99111

May'06
May'06
Apr'06

99
93
100

99
94

10ii4
101 >»

101
100

'.J

Sale

1

Low High

Hiph
Feb '06
lOOk

10034 May'Oii

99

J'ly
J'ue'

Kanfie
Since

January

101
100 12
128 i«i J'ne'04
9S
98 k.
105 Hz Mar'06
12((
120

101

IOOI2

111

l()3'8J'ne'
99:'4 M.iy'

,

&

114

Kum J'ne'

103
995g.
103

120
98
93

MS

lU

J'lie'

111

B&

lOl^slOl'-s

'

100
129

lOOM

&M

CM &
M

hj

98 12 Sale

Mar'
JanApr'
Sep
Apr'

_9

90

100

J'ue'

114
112
111
102

xo

JMOTK— Buyer nays accrued

97

Feb'
104^2 Apr'

FA

iteiristered 4 s

10 H4

!l9:>.nl0.iis

93 14

Ask Low

IOOI4 101

deben 5s
1910 J-J
Non.convertdeben 5s... 1913 A-O

Illinois Steel

la Falls* Sioux Cist 7s.. 1917 A-O
Kan C Clin c& Spr 1st 5s...lfl25 A-O
Kan C Ft S & GuU iHt 78. . 1908 J-D
6s
1928 M-N
KauC Ft Scott
B jreu 4s
1934 M-S
Kan
1934
Assented income 5s
Ky Br 1st 5sl929 A-O
Kan C <fc
KanCStJocfe C B 1st 7s. .1907 J-J
Maine Cent cons 1st 7s. ..1912 A-O
1912 A-O
Cons 1st 4s

H834

.10

1918 J-J
Ittls J-J
1910 J-J
Sinking fund 4s
1917 A-0
Butte tS; Boston 1st i>s
Cedar Uap <fc Mo K 1st 7s. 1916 M-N
1909 j-n
'J<17s
Cent Verml 1st g4s..Ma.vl920
C B tfc v.i Iowa Div l8t 5s. 1919 A-O
1919
Iow;i Div l8t4s
1913 M-N
Debenture os
1922 FA
Denver Kxt«n 4s
1927 M-N
Nebraska Exteu 48
1921 M-S
S VV s 148
1949 J-J
Illinois Div S^iS
Joint bonds See Gt Nortlieni
Chic Jc H.y & Stk Yds 5s .191 5 J-J
CoU trust reluuding g4sl940 A-O
Cli Mil & St P Dub D 6s. .1920 J-J
Ch M «fe St P Wis V >iiv 6bl920 J.J
Clue & No Mich 1st gu 5s.19;H1 M-N
Mich gen 58
1921 J-D
Chic &
Concord & Mont cons 4s.. 1920 J-D
Conn & Pass K 1st j? 4s. ..1943 A.O
1927
Current River 1st 58
1st 4s... 1946 A-O
DelGr llapcfc
Domimon Coal 1st s i 5s.. 1940 M-N
1906 M.S
Eastern 1st gold 6s
190b M-N
Fitchburg 5s
1915 M.S
49
1927 M.S
48

W

104

94 's-

•"''lit

J-1)

Bur <fe Mo Riv ex 6s
Non-exempt 6s

Mar'06

Week^s

Kanye or
Lnxt Sale

m

Jimc

JITNE 8

Bid

115

IJSSi^

11102%
94 's

WEEK ENDINO

1

100

liS^a

90

!I2

trice
f/Yidav

BOSTON STOCK KXCH'GK

Hirih

May'Oli

1011-2

»;

litlO J-J
l'J44 J-J
tfc Maine4'os
Terminal 1st o'2S.l'J47

4s

>*

!is.>^

w.

104

101

.

Lowell 48

9^'^2

92

Low

Higii

H-'S

Atoh A NebraHka l8t7s..liHJ8 Wl-S
Atch Toi) & a i<'o Ken g 4s. I'.KIS A-O
J'ly litSio Nov
AfJIusl'ment k 4s
Boston Klectl.if;litl8t68.11)()8 .MS
1'.I24 M-S
Consol 5s
«fc

Low

ylsK
^'H\

noNUs

Hanc/e
Since
Jamiarti

Week'!,

Pridati
J'ine !',

Bia

1

1369

Boston Bond Eecord.

BOSTON STOCK EACH'Gh

Boston

5

'

b ?25 paid.

1-2

Nov
Dec
Mar

54 14 Apr

Deo
Feb

32
12=8

17 14 Jan

Jau

49
2514
123 1-2

90

ig

Mar
Nov
Nov
Jau

534

73^8 Atig
55'.!

12

--.i

{3(i

Nov
Apr
Aiir

71i3jgXov
47 (, .\ug
yOVi Nov
63i4 0ct
125^8 Apr

31

Nov

Bid Ask
105
95
117
111

107

96

111!

105
105 V
115
'-J

113""
112
106
106^-2

1063^ 10/

112

'4

1121-2

1113, 112

'4

lUS, 112 »
120
113
63

114

3834

3914

105
11.

-I

116
86112

98

8/
100

iiV)'

ID)
117
117
111
115
113

110

881.

114
111
94

112

92I4
733,

95
92 H,
74

iio"
116

no

111
y5>5

96 >4 9I>34
;i4
116
108 Dt9'.i
117
119
>.j

THE CHRONICLE.

1370

•

Volume

Business at Stock Excuaages

of

1

I

TKA-N8ACTIONS AT THK NEW VOBK STOCK KXCHANf+K,
DAILY, VKKKLY AND YKAKliY
stocks

We-tk tnding
June 15

1W06

Railroad Ac

Bonds

$1,355,500
2.089,000
2.893.500
2,09:',000

149000

2,017.000
2, 2 li 1.000

$12,709,000

541.073
1, ',90,944

984,418

Friday
Total

10'
loi
loi
Laray'eGa«lHt liK'24..M->.
Loctfe
V 1 St 68'25.J - 1

Week ending June 15

Sales at
Stock

147.800

Exchange

January

June 15

1 to

—

130.594.721
136.497.955
2,177,827
4.167.580
Stocks No.shares
,i351.0S7,150 $200,707,950 $12,133,338,400 $12,173,508.72-)
Par vaiao
it>456,100
$287,300
$9,900
$12,300
Bank shares, par..

BONDS

.1S258.400

$1,034,500
44.025,650

$227,000
801.200
12,709,000

$1,000
11,907,000
8,337.500

329,866,80(1

83.329.300
457,323,400

$13,737,200

$20,245,500

$374,926,950

$540,911,100

aovernment bond^
State bonds
BR. and mis. bonds
Total bonds

DAILY TRA_NSACTXONS AT THK B03T0K AND PHILADELPHIA

EXCHANGES

jiol

40

!

H

J-D

<fe

PowA-O

58 1938

1IO<&Iu<IC-Vat& 111 .100
Ist 6.S 1926
J-l>
Pat<fe PasGaHcfc KleclOn
11 Con k5s 1949--. ..M-S
St Jo3ephOa8 5s 1937. J-J

J5
4:;

:-i8

38

31

136
91
111

90
109

5

29
70
5102

75
105

34
97

Hudson RiverTeleph lOU
1IN YtfeN J TelepU...iO0
II North we.stcru Teleg. 50
Paciflc <fe Atlantic
25

&

HSouthern

Atlantic

2;"

92
147'..

137'-.. 14")

120
80
loo

125
85
105

Chicago Kdisou Co See C hicago list
iJKingsCo ElL&PCo 100 148 4151
Narragau Pro v) El Co 5U \ 98 103
48
53
NYtfe Q El L&PowColOO
65
65
Prelerred
100
50
UuitedElectricoIN JlOO
4s 1949
J-D 5 Ti\ 73 "a
(

Philadelphia

Boston

Week ending
June 15
iy06

LisUd

Unlisted
shares

shares

Bond

Listed
shares

sales

19,500
72,000
58,400
15,000
42,500

3,184
5,151
9,135
9,686
10,404
6,578

$123,464
143,150
€8,725
92,000
68,125
89,843

$219,400

128,086

44,138

$585,307

5,888
17,797
12.882
5,909
17,552
14.799

$12,000

124.759

74,827

Monday
Tuesday

Wednesday .
Thursday
Friday
Total

sales

9,691
18,372
17,737
23.996
28,182
30,108

7,116
13,405
24,477
19.316
34,958
25.487

Saturday

Bond

Unlisted
shares

I'erry

Street Railways

KBW YORK

&

7th

Ave

stk ..100

ll'idmort 531914 ...J-J
Con 5s 1943 See Stock

33
92
240

35
95
244
105

Exch

nCenPkN & E R stk. 100 198
170
flChr't'r<fe 10th St stk 100
Col& 9th Ave 58 See Stock Exch

11

D E B & 3—

90
5103
5109
5105
40
85
1st mort 5s 1919. ..J-D
27
H Union Ferry stock .100
93
1!l8t68l920
M-K

Tllst gold 5s 1932. ..J-D
^Scrip 6s 1914 ....F-A
Eighth Avenue stk.lOU
HScrip 68 1914 ....F-A

1142d&GrStF'ystk..l00

42dStM& StNAv..lOO

Deposited stock...
Undeposited stock

109
100
380
100
390
50
103
60

'35

J&J

92

>«

i-j

List

Coll trust 58 gold notes
1909 optional.. ..M-N
North J ersey St Ry 100
M-N
Ist 43 1948

}

OeSj

96^4

28

77
78
81
B'2
J-D 'ilQTh 108
Ist 68 1933
New'k Pas By 58 '30J-J 5110 112
Rapid Tran St By.. 100 240 250
1st 58 1921
A-O 5108
5

ConsTracotN J..-100
113
105
405
107
410
70
107
70

110

EX

2
2

list

5

Street Railways
Bid Ask
5
Prior lien g 4 "^s'SOM&s 102
103
Lake St (Chic) El .See C hicago list
Con mtg g 5s 1930. J&J
80
83
HLouisv St6sl930..J&J Jill's II214
Income 58 1930
7
12
Lynn& Bos 1st 5s '24. J-D 5 107
UNew Orl Rys & Lgt.100 33 36 Chic Subway. See Chlcag o list
Delaw & Hudson con deb
81 H> 82
\Prel:erre(i
100

GenMg4i28

n79

65

I^ailroa(l

North Chic Street See C hicago list
105
108'2 PubServ Corpof N JlOO 100
70'-)
Tr ctf s 2% to 69() perpet 69
360
118
202

99

N Y<fc E B Ferry stk.lOU
1st 5s 1922
M-M
N Y & Hob con 5s '46.J-D
Hob Fy Isl 5s 1946 M-K
N Y& N J 2d 53 1946.J-J
10th & 23d Sts Ferry 100

Al & Sus 40yr 3 "128 ct3 Set Stk
Chio Peo & St L pret.lOO

list

B'waySurf I8t58gul924 5106
flCent'l Croast'n stk.. 100 340
UlstM 6s 1922 ...M->; ni6

Dry

Ask

CITY

Bleeck St<fe Fol F stk 100
Tll8tmort48 1950 ..J-J
H B'y

Bid

2
102
70

1

B& NY Ist 68 1911. J-J

Outside Securities
Weekly Review of Outside Market will be found on a preceding page.

A.

Companies

Brooklyn Ferry stocklOO

20
J CHob&PatersonlOO
M-N } 72
48 g 1949
So J Gas El & Trac 100 123
M-S 5100
Gu g 5s 1953

48 1906-16 (wi)
IIFort

Worth

&

..

NYNH &

100

HartfordCon deb 3 123 1966. J&J

Norlh'u Securities Stubs
Pitts Be.ss&LE
50
Preferred
60
Railroad Securities Co.
IU.C.stk.tr.cfs.8er.A'52

Seaboard Air Line

CoUtr5sl907 op. ..M-S
SeaboardCo
^bee Bait
Va & Southwestern. .100

1

5 'a

6

t

30
70

1»»U

Preferred
Electric Vehicle
Preferred
Empire Steel

20
60
J2
17
6

19

lOO
100,

15

8
41
37
77 Hj 7:1
103 105

'!'>>
Gobi HUl Copper
2 "a
II
24=4 25
Greene Con Copper. -.10
3I4
Greene Consoi Gc'lil... 10 t 'A'^
2'*
Greene Gol<l-Silver.... lOif
2
295
(4ug!;enheimExplo'n.lOO 27

Hackensack Water Co

\

01
104
25 "a

Kef g .is 52 op 12...J-J 15 ''3
Hall Signal Co
loo
97

Havana Tobacco

Co.. lOiiJ

24'-,

3812 391a
Preferred
UJOj
68
70
1st g 5s June 1 '22.J-D|
Hecker-Jones-Jew'l ilUll
111
Ist 6s 1922
M-^; 106
36
Her'g-Hail-Mar.new-lOOj 25
Uoboken Laiid& ImplOO 200
158 1910
M-^ 5102
8'
Houston OU
9
1001
50
40
Preferred
100
125
135
Hudson Bealty
90 100
Ingersoll-Bann preL.lOu
155
Internat'lBankingColOO
111,
11»8
Inl'n'l Merc Marine. 100
30 iv 31
Preferred
100
Col tr deb4'2l922op'07
77»B 7734
33 >v 34
International Salt
100
65
69
1st g 5s 1951
5
International SUver.lOO
49
53
Preferred
100
1st 68 1948
J-D 5106 109
72
68
Lackawanna Steel.. .100
Lanston Monotype
20 t 143. 15
Lawyers Mort Insur.lOO 188 190
50
60
IjLeh & Wilkesb Coal.60
Lord & Taylor
100 120 130
Preferred
100 100 103
HLorUlard (P) pref ...100 130 155
Mackiy Companies ..lOo 174'-., 75
Preferred
100 x73'4 7334
15
20
Madison Sq Garden. .lOt;
75
2d 63 1919
M-j;
5'-.
7
UManhatt Beach Co. 100
3<>
Manhattan Transit
20 t 3^
20
Mex Nat Construe. ptlOO 16

Monongahela

R

5

10
Coal. .50

7'v

8
22 "s

Preferred
50
Mont & Boston Consoi .5
5113
II312 Mortgage Bond Co. ..100
250 275
Mosler Sale Co
lOO^
34
37
Nat Bank of Cuba
100
74
National Surety
77
100
Nevada Cons'rt Copper.
94
96
20
IJNew Central Coal
N J Ter Dock & Imp 100
98
100
N Y Biscuit 68 1911. M-S
Exch list
N Y Mtge& Security. 100

4

UNew York Dock

155

112

18

18"^

36

45
431a

i02i-2

190
40
78

73
127
101

W

:oo

42
84

<o\

7

125
2'-.

48
98

3

52
101

30
60

Exch
4

50 '4
Ust
41a

(i5
75
15
17
102 107
162 la 163
107
111
2S0 300
55
520 540

^

92
40
120
10
35
80
610
k

94
45
130
13

40
81
615

Exc h'ge

5102
411a

f

106
43

5105
180

110
190

la
16
95
45

20
105
55

f

.

\

»18

105

109
145

....100

M

2314

100

.

H

>-j

a

'4

1

5

100
100

Electric Boat

>,

M

79 "8
104
124

Co.loojti23

VDiainoiiil .Match

UPref erred
100
Industi-ial and Aliscel
N Y Transportation. ..20
lllstmort 68 1910 .M-6^
81
NUes-Bem-Pond com. 100
Ahmeek Mining
2! t 80
i|2d income 63 1915 J-J
AlUance Realty
100
lOo 118 125
No Hud Co By 6s'14J-J 5110 U4
II Ontario SUver
Interboro-Metropolitan—
7
Otis Elevator com
111
American Can com... 100
100
J-J 5109
5s 1928
Common. <S'ee Stock Ex cha' ge list
Preferred
Preferred
Ext 5s 1924
M-N 5101 104
100
100 2:59 \ 60S
Ek cha'ge list
Prelerred. ,See Stock
Phoenix Securities
American Chicle Co.. 100 172 178
Pat City con 63 '31. J-D 5120
4 Hj% bonds. Sie Stock Exch list
Pittsburg Brewing
Preferred
50
2d 6s. ...1914 opt A-O 5100
loo 103 105
Interborough Bap I'r. loo
Preferred
50
Am Graphopho com. .100 45
So Side El (Chic) See C hicago list
Lex Av & Pav F 5s See St k Exc list
83
85
Pittsburg Coal See Stoct
Preferred
Stk % X list Syracuse Bap Tr 53 1946 5 106 'v 107 J4
100
Metropol Securities See
105
Pope Manufacturing.lOO
Amer Hardware
5s 1943 J-D 5103
100 104 106
Metropol Street By See Stk K X Ust Trent P &
T.lOO
United Bys ot StL—
Am Ice Securities See StkE X Ust Ist preferred
Ninth Avenue stock. 100 170 180
105
2d preferred
100
67>4 5734 Am Malting 6s 1914.J-D 101
Com vot tr Otis
100
Second Avenue stocklOO 199 204
85 '4 Amer Press Assoc'n.lOO
95 105
Pratt & Whitn pref. .100
UPreferred
100
5101 103
Hist mort 58 1909 M-IJ
3
Bealty Assoc (Bklvn)lOO
Gen 4s 1934.... See Stk Exch Ust
Am Soda Foun com. .100 1
ConsoiSs 1948.... F-A ni3 116
45
55
BoyalBakPowd pref. 100
Ist pref erred
100
Avenue stock 100 170 173 UuitBysSanFran iSeeStk Exch Ust
S Sixth
10
Safety Car Heat & Lt 100
4212
5
2d preferred
Wash By & El Co.... 100 42
100
ou Boulev 68 1945.. J-J noo 104
88».j Amer Steel FoundriesSeneca Minin
Preferred
100
5107 108
So Fer 1st 5s 1919. ..A-O
Singer Mfg Co
100
86 la 87 "v
48 1951
J-D
6s 1935
A&O 5 92
Third Avenue See Stock Exch Ust
00
Southern Steel
38
American Surety
60 190
P & 5s 1928 5104'-, 107 HWeat Chicago St ....100 35
Tarry
4 V,
1 8t 8 f g 53 1930 opt M-N
4:66
American Tliread pref..
YkersStRB 58 1946A-0 ao6 108 Si HCong 68I936....M-K
AmTobacco (new) com.. 400 430 Standard Coupler comlOO
28th <fe 29th Sts Ist 68 '96 5106 108
Preferred
100
Prefd
See Stock Exch Ust
IJTwenly-Th'd St stk 100 395 410
Gas Securities
Ust Standard Milling Co. 100
110
4sand6s
(See Stk Exch
Union By 1st 58 1942 F-A no7
NEW YOBK
Preferred
100
Am Typeto'rs com.. .100 37 42
Westchest 1st 5s '43 J -J 5105 lOS
93 100 S
1st 5s 1930
M-N
Preferred
Cent Vn Gas 5s g'27.J<fi;J 5102 105
100
334
4
Standard OU of N J.. 100
Con Gas (N Y) stk. See St k Exc h Ust Amer Writing Paper. 100
BBOOEXTN
2612 27
Swift & Co See Boston St
Preferred
100
Conv deb 68 otfs .SeeStk Exch Ust
1st 5s 1910-1914.. ..J-J
87'v, 89
58 1919
JJ
TfMutual Gas
100 225 250
Atlan Ave 58 1909. .A-O 5101
Tennessee Copper
25
110
& Sm Car ...100 65
HBarney
New Amsterdam Gas
A-O
Con Sag 1931
UTexas & Pacific Coal 100
105
llPref erred
100 140 145
Ist oonsol 5s 1948.. J-J 5102
E 5s 1933. .A-O 100 102
B B <fe
28^4 29"..
l3t 63 1908
A-O
230 235
Bethl'm Steel Corp... 100
N Y & East River Gas—
Brooklyn City stock. ..10
87^4 8912 Title Ins Co of N Y..100
Preferred
Ist 53 1944
107
1 00
J-J 5104
Con 58 See Stock Exch list
Tonapah Min (Nevada). 1
Consoi 6s 1945
107
CoU.tr. g. 3.1.63 1914.J-J 103
J-J 5101
BklD Crosstn 5s 1908.J-J 101
TrentonPotteries comlOO
42
BUss Company com
50 140
Bku Hgts 1st 58 1941 A-O 105 108 N Y tfc Richmond Gas. 100 38
Preferred new
100
5IOII5 1031^
130 134
Preferred
50
Nor Un Ist 63 1927.M-N
Bkln Q Co & Sub /See Stk Exch list
Bond& Mtg Guar. ...100 400 415 Trow Directory new. 100
TJStandard Qa3 com ..100 130 150
Bklyu Bap Tran See Stk Exch list
Union Copper.,
10
180
170
200 250
Borden's CondMUk..lOO
TlPreferred
100 155 170
1] Coney l8.<&Bklyn ..100
Union Typewr com. .100
Preferred
100 114 118
94
96
ist 58 1930
M-N 108 110
Ist cons g 4s 1948. .J-J
Ist preferred
100
8
Col Copper
7\
British
5
Brk C & N 5s 1939.J-J 111 113
2d preferred
100
32
31
Butte Coalition Min..l5
Gr SU&N ew 1st 53 '06 F-A 100
OTHER CniSS
United Bk Note Corp.. 50
Camden Land
3
Gr'pt&Lorimer St Ist 6s 103
Preferred
50
3
6
Casein Co of Am com.. 100
Amer Llglit & Tract. 100 115 118
Kings Co. Elevated—
United CigarMfg., pt loO
Preferred
75
85
lOC
Preferred
100 lOOi^ 101
Ist 48 1949 -See Stock Exch list
100
United Copper
"4
Casualty Co ot America.. 120 130
75
66
Bay State Gas
50
100
Nassau Elec pref
100
Preferred
GeUuloldCo
100 138
Binghamton Gas 58 1938 5 96 100
A-O 108 113
68 1944
100
12
U. S. Casualty
17
Cent Fireworks com. 100
-S'eeSt k Exc li list Brooklyn Union Gas deb
Ist 4s 1951
S Envelope com... 100
Preferred
65
U
100
70
136
68 1909 conv '07. ..M-S 130
N Wb'g&Flatl8tex4i2S 101 104
100
IJPreferred
6
118iu BtUfalo City Gas stockloo
Central Foundry
100
6
7
Stein way Ist 68 1922.J-J 5116
22'-, US Rub 2d pf See Stock
21
Preferred
lOU
Ist 58 1947 See Stock Exch list
8OI12 U S Steel Corporation793.
Deb 6s 1919 op 'OIM.N
Consoi Ga3 of N J—
OTHEB CniBS
Col trsf 53 'Slept '11 ..
Stk E X list
Set
Central Leather
J-J 5 92
95
1st 5s 1936
Coltrsf 5s'51 not opt.
100 190 200
Century Realty
Consumers' L H <& Pow—
Buffalo Street By—
U S Tit Gu& Indem.lOO
Chesebrough Mfg Co 10(i 140 480
58 1938
J-D 5108
Ist consoi 5s 1931. .F-A 511034 nil-.
Westchester & Bronx
Chio Pneum Tool. See Ch icago list
Detroit City Gas
50 tllO
Deb 68 1917
A.O 5105
Title & Mort Guar Co
115
120
City Investing Co-.
Elizabeth Gas LtCo..lOO 275
Chicago City By
See C hicago Ust
Westtngh Air Brake.. 50
100 108 118
liClaliin (H B) com
Essex & Hudson Gas 100 126 129
Columbus (O) St By.. 100 lOl'v 102
West Elec <& Mfg—
100
96
99
40
45
Fort Wayne 6s 1925. .J-J
Prelerred
100 110 111
11 Ist preferred
Con sf 68 '31 Op '12 J-J
lOo
96
112d preferred
65
60
Gascfc El Bergen Co.. 100
Colum By con 5a See Ph ila list
While Knob Min
Colo IndnstriaJ. See Stot k Ex Ust
Grand Bapids Gas
Crosst'wn lst53'33.J-D J 103 106
Preferred
65
80
U0I& Hock Coal&lpt 10(1
F-A JlOl 103
76
Grand Rapids By
100
Hist 53 1915
Worthing Pump pref- 100
J-J 5 83
100 109 110
1st g 5s 1917
Hud.son Co Gas
Preferred
90
100
85
a Ex-rights. xEx-div. iNew stock, lisella on St'k Exch., but not a very active security.
4 Buyer pays accr'd int. fPricepersh. *Sale price,

W

13

12»4

"9
101

loi

Mine Securities
1081a 109 Is Mitchell Mining

J&D

Denver

City stamped

tPreti-rriMi

Cuban Usof 1896

>>.

53
125
91

Companies

Electric

A&O'

BatlerviOo
Prixl Ref ,SV» .Sti <-k
<;rainp»' .Sh & Eu BldglKU
ICruciblc .-teel
ItX

Preferred
loo
l.Generat Chemical ..100
'
Preferred
lOn

47
120
«9

10(1

20

stiiratf-e

Dominion Copper
Douglas Copper

108
2

65
40
6">
70
G
5Hi
2
\\
7
12
30
8
11
Exch UKt
21
(>o

lool

I)el><-uture4»19.'.l

Cons
Corn

Ask

Hi4i

.100|
lOiij

Prc.I<Tre<l

5103'., lii7'-^

100
Stock

'

Cou» By I.f.'cfc Kelrix.lOii
CoDNol Rubber Tire.. loiil

i

1<I5

&

Franklin

&

I

iO(>" I114

Telephone
91
1|AmerTeleg& Cable lOi
llCentral & So Amer. 100 140
Commer Un Tel (N Y).25 115
Kmp <fc Bay Stale Tel 100 78
IIQold

com

•iTcterred

.«

98

1944. (J-J 5134
(ia»..10o

1948

r..s

Hudson L

TelejjT

1905

1906

1005

1006

loV.obo

144.000

$801,200 $227,000

Sew York

llCon g
-Vo

100,000

n Gas 6s 1926. A-O

mill \iiMoe.

"liCdUS Firi'w'krt

983,

Wab

1 26". 000

11 5. ,500

S'l

KanniiM City lias
lILcclede (ia.x
II I'ref erred

187.;»00

6-i9,8ll5

26
72

A.O

Newark (ias 6a
Newark CoMHol

Iti'liixlriiil

AsK.

ConsolidCUir HeatiUKlOn'

.M-.N

iKli.' r>n r.i52

$57,000

4,167.580 $351.087.1.50

Monday
Tuesday
Wednesday
Thursday

Bid

Ghh—

.\al <fe III
iHt tin 191)8
nd>aii:ij>uU.s (ia»

.HailiS'

$25,750,200
43,256.300
53.055.H50
48,374.800
98,846.900
81.803.100

306,177
515,163

Satunlay

Seeurilie'.

•iiH

n<llaii;i

Jackson <Ja» 5» g '37. A-O

C S
Bonds

State

Bonds

Par value

Shares

[Vol. Lxxiii.

191a

1%

t

95
122
123
41
t
51
t

100
125
125

47
53Hi

971a

98

62
94

021a

93

200
20
89

92

Exch

list

5113
5112
125

114
114
130

175
tl47

180

5

97

97«8
la

lia

115

I-:

120

.
-

June

._

.
.

.

THE CHRONICLK

16 1906. j

1371

inxitstmmt and ISailroad Intelligence.

RAILROAD GROSS

EARJNlNGrS.

STEAM

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

The

July 1

Latest Gross Earnings.

Week

Roads.

Current
Year.

or

Month.

Ala & Vicksb'g May
Vicksb Sh & P. May
Atch Top & S Fe. April
Atlanta & Char. February
Atlantic & Birm. April

Canadian NorthCanadian Pacific,

.

April

Maj'
April

May
April
1st

wkJune

March

May
1st
1st
1st

..

...

wkJune
wkjuiie

wkJune
Cent'l of Georgia.
Cent'l of N Jersey April
Chattan Southern 1st wkJune
Chesap & Ohio.- April
Chesterf'd

& Lane

Chic & Alton Ry.
Chic Gt Western.
Chic Ind & Louisv
Chic Milw & St P.
Chic & North W.
Chic St P M & O.
Chic Term Tr RR
Colorado Midland
h Col & South Sys
Col Newb & Lau.

&

wkJune
wkJune

April
April
April
1st

wkJune

April
1st

wkJune

Let).

_

April
April

Denver it Rio Gr. 1st wkJune
Det & Mackinac. 1st wkJune
Det Tol & Ir Sys. 1st wkJune
Dul RL &; Winnip April
Dul So Sh & .'Vtl. 1st wkJune
Erie
Fairchild

& N
Fon Johnst &
Georgia

RR

April
E. April
Gl. April
April

Gr Trunk System 1st wkJune
Gr Trunk West 4th wkMav
Det Gr H & M. 4th wkMay
Canada Allan. 4th wkMay
Great Northern..

Montana

Cent'l

Total system.
Gulf & Shiplsland

May
May
May
1st

wkJune

Hocking \ alley. . April
Illinois
Illinois

May
Southern. May
Central..

Int & Gt North'n 1st wkJune
a Interoc (Mex).. 1st wkJune
1st wkJune
Iowa Central
Kanawha & Mich April
Kan City South'n April ...
April
Lehigh Valley
Lexing & East'n. April
April
Long Island
Louisiana & Ark. April . . .

Louisv

& Nashv.

Macon & Birm

wkJune
May
1st

Manis & No East. March
May
Manistique

Maryland & Penn
a Mexican Cent'l.
a Mexican Intern
a Mexican Ry
a Mexican South.
Millen & South w.
Mineral Range
Minneap & St L..

MSt P &SSt M.
Mo Kan & Texas.
Mo Pac &

Iron

Mt

Central Branch
Total.

April
April
1st
.3d

wkJune

wk May
wk May

3d
February
1st
1st
1st
1st
1st
1st
1st

.

wkJune
wkJune
wkJune
wkJune
wkJune
wkJune
wkJime

Mob Jack & K C March
Nash Ch & St L- April

h

Nat RRof Mex..
Nevada Central..

1st

262,768
121,695
121,293
6,492,316
356,266
101,934
2,159,462
6.817,033
242,225
4,395
3,271
91,178
151,209
115,200
134,300
1,237,000
207,900

Latest Gross-Earnings.

Latest Date.

Previous
Year.

wkJune

April

Nev-Cal-Oregon May
N Y Ont & West. April
N Y Susq & West .'Vpril
Norfolk & West'n .\pril
Northern Central April
Northern Pacific. May

236, 188 2,737, 476
105, 865 1,271, 692
111, 528 1,188, 976
5,996, 896 64,814 605
262, 159 2,731. 469
915 009
80, 292
1,997, 905 20,404 632
5,840, 176 70,819. 242
189. 021

2,066. ,981

4. ,245

,326,108
,2.58,410

,321,743
,649,952
,444,259

837,835
,168,081
,921,895
,777,679

53 ,721

2 ,933
171, ,741
94. 133

130 ,271

82 ,400
972 ,000
173 ,250
1 ,333 ,248 1,968 ,156
2 ,076
3,025
2,005,871 1,673 ,776
3 ,622
3,389
771 398
786 ,389
147,465
137 ,517
111.492
109 ,519
4,343,801 3,862 ,358
5,148,018 4,369 ,794
956,842
869 ,575
30,381
31 ,745
144 ,907
154,961
230 ,437
252,181
21 ,989

April

March

Copper Range
Cornwall
Cornwall

April
April
1st
1st

to

Current
Year.

Week

Roads.

Month.

20 ,585

51,667
37,958

38 ,997
7,414 ,648
1,208 325
1,472 ,413
5,085 ,300
57,395 ,404
10,768 ,767
20,147 ,624
12S ,.S.58
20,210 ,0,S9

32 ,765
9 .852 .414
S.242 ,084
5,525 ,501
46,309 ,077
52,585 ,872
10,904 ,889
1,599 ,281
1.777 .578
11,134 ,242

,596,783

823,955

Pacilic Coast

Co_

_

dPenn-EastP&E
P & E-

,391 ,682

rfWe.st

,565,300
,997,723

PhilaBalt

&

&W'sh

Erie

.\piil

April
April

Cur'nl Year Prev's Year

Monthly Summaries.

S

Apr
Apr
.\\>t

(42 roads').
(42 roads).
(42 roads)..

Apr

(41 roads)..

Mav
Mav
May
May

f39
(42
(39
(39
(40

June

roads)..
roads)..
roads).

.

roads)..
roads)..

7.762,585
8,000,423
7.974.186
11. .547 ,633 10.295.745
8,457,494
7,329.000
8,994,872!
7,808,525
8,320,006
7,309.639
13,682,041 12,000,4.33
8.709,804
7,6.52,380

Curreni
Year.

Previous
Year.

Raleigh

11 2, ,856

30,453,678
,320 457
29,721,668
074,565 ,610 ,535
60,175,346
3.536,409 ,930 ,992
337
1,225,709
1.58
166,038
421.498
40 749
March
48,300
445,094
9,403
,533
1st wkJune
36,790 721
Island Sys. .\pril
3,800,204 3,289 ,652
Rock
947,995
124 ,147
March
110,864
St Jos it Gr Isl
32,296,992
3,147,838 2 955 ,991
c St L & San Fran April
8,312,836
152 .064
103.206
St L Southwest.. 1st wkJune
10.028,769
1,452.601 1,351 .787
Seaboard Air Line March
May
33,221
31 .517
Sierra Railway
100 992 1,290,540 1,206,273
95.290
Southern Indiana May
-;So Pacific Co.. February . 8.001,844 6,581 ,998 69, 786, 157 63,240,992
849 055 50,244, 2:"3 45,165,088
Southern Ry k.. 1st wkJune 993,391
Mobile & Ohio 1st wkJune
137 .630 8,787,250 7.705.969
160,829
Pac 4th wkMay 282,667 236 ,431 7,703,219 6.730,913
Cin NO
92 ,535 3,457,537 3,030,362
118,997
Ala Great Sou 4th wkMay
154,628
137 ,476 1,708,438 1,570,190
Ga South & Fla May
14 .080
768,894
885,068
4th w^kMay
21,392
Texas Central
182 .849 12,258,251 12,006.190
Texas & Pacific.. 1st wkJune 204.519
8 ,700
13,000
TexS V & N W.. P'ebruary .
238 .845 3,494,073 3,180.127
205,041
Tol & Ohio Cent. April
20 070 1,209,663 1,193,340
West... 1st wkJune
18,112
Tol
69 .973 3,879,408 3,490,849
. _
1st wkJune
65.653
Tol St L &
Valley April
2 .298
Tombigbee
4,354
56 ,197
605,977
May
61.122
683.006
Tor Ham&Buff
5,3.39.805 4.781 .68^ 56.107.329 49,388,318
Uti Pacific System April
05 ,829
610,0.33
923,477
98,018
Virginia & So W'n May ...
514,480
433 ,330 23,208.509 23,195,083
Wabash
1st wkJune
82 ,980 4.457,299 3,014,947
WesternMaryland 1st wkJune 112.300
398,114
363 ,614 4,111,584 3 595 ,984
West Jersey & S'e April
111 .949 5,002,988 4,228,969
92,383
Wheehng & L E. 1st wkJune
14 ,140
148,321
139,899
13,876
W'msport & N Br April
549 ,381 5,904,295 5.490.220
Wisconsin Central April
584,637
15 .090
14,862
179,195
165,953
Wrights & Tenn. April
599 ,459 7,962,757 8.105,897
736,633
Yazoo & Miss Val May

,075,333

28,056
028,700
,113,726
,219,108
,742,934

096,600
,047.077
,431,626

637,118
,981,573

2,507.562
37 261 ,755
32,002
592,527
2.092,202
33,799,106
4,703,975
1.316,540

38,047,485
2,194,381
40,241,866
1,754,975
4,9.59,055

45,397,956
252,497
5,940,871
5,089,319
2,413,686
1.456,758
5.884,099
25.506,642
377,838
667
681.431
36.503,501
124.260
317.805
74.932
267,439
21.418,238
6,158,582
5,398,340
1,040,688
52,521
637,089
2,830,108
8,045.008
18,931.742
38,970.075
1,500,862
40,4.S3,,''i.37

.-)()2.271

8.427,016
11,002,148
2,S,S28

199,678
5.747.091
2,240.042
19,697.412
8,515,681
47,252,973

+ 880,138
+ 938,964
+ 999,520

+ 1,251 ,888
+ 1,128.494
+ 1,186,347
+ 1,010,367
+ 1,681,608
+

2,267,347
7,939,350
135,159
4.577.099
100594 147
4,600
11,488.474
6,368,136
20 670 439

Phila
Pittsb

C C & St L

&

S'port

_

Reading Railway
Coal & Iron Co
Total both cos.
Rich Fr'ksb & P.
Rio Grande Jct..
Rio Grande So

April
.\pril

April
April
April

%

1,057,424

4 ,809

6,281
2,461 ,844
1

41 ,073

&T

P&

W

Period.

Vcerious Fiscal Years.

Atlanta

&

Charl Air Line

Mch

1

to

Feb

May

Jan
Jan
Jan
Manistee & North Eastern
Jan
Manistique
Jan
a Mexican International
Jan
a Mexican Railway
Jan
a Mexican Southern
National RR of Mexico
Jan
Jan
New York Central
Lake Shore & Mich South.. Jan
Lake Erie & Western
Jan
I Chicago Ind & Southern.. Jan
Michigan Central
Jan
Clev Cin Cliic & St Louis. . Jan
Peoria & Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh & Lake Erie
Jan
Jan
Rutland
Jan
N Y Chicago & St Louis
Northern Central
Jan
d Penn— Ea.st of Pitts & E... Jan
Jan
d West of Pitts & E.
Jan
Phila Baltimore & Wash
Philadelphia <fe Erie
Jan
Jan
Rtts Cin Chic & St Louis
Dec
Rio Grande Jet
Jan
Texas & Pacific.
Jan
West Jersey & Seashore
Bellefonte Central
a Interocianc of Mexico

Jime

3,975.698
22.568
2.958,768

to

Mch

1.33,406

Jlay

1

30,696
3,513,260
2,693,700
495,238
6,222,872
35,229,579
17,049,798
2,122,918
970,854
10,445.699
9,322,727

June
1

to

May
May
June

1

1

1
1
1
1
1

1
1
1

1

1
1

1

1

to
to
to
to
to
to
to

May
Mav
May
May
May
May
May
MaV
Mav
Mav
May
Apr
Apr
Apr
Apr

to
to
to
to Ai.r
to Apr
to Mch
to June
to Apr

1

,203 ,949

381,503
5.687,380
1,010,067
4 ,094 ,368

3,473,627
45,607.029
/7)r.3,ll

4,784,536
2,240,058
9,301,521
190,825
5.773.848
1.268,278

3.593,773
23 .846
2.834.931
121.614
27.483
2.828.992
2.444,400
481,002
5,332,371
32,135,702
15,016,097
1,890,811
881,335
S,82t) 736
8.302.445
1,090.106
304,021
4,909,826
915,274
3.031.214
3,105,827
39.144.629
4.600
4,457,736
2,160.491
8.179.994
157.779
5.009,835
1.063.778

and Monthly.

Monthly Summaries.

Cur'nl Year Prev's Year

Inc. or Dec.

%

S

»

8.642.723
8.939.387
8.973.706

10249 188 10789 288
Inc. 50 8,300
1,235,473 1 208 ,673
502,562
632 ,566
2,267.892 2,055 ,815

2,429,863
8,860,187
155.824
4.882,757
118097 647
/nc.7,85
12,468,474
0,877,716
23,510,733
52,505
33,670.065
27,995,51
61,665,58
1,377,229
505.170
520,910
43,135 736
1,159,960
35,444,736
8,426,784
11,323.132

557.345

Inc. or Dec.

S

?

00, 520
1,153,,981
222,,729
688,,.547
16.231
12,,342
453,580
452,,019

.

Date.

Previous
Year.

7,137, 502 82,135,615 74,236.106
3,135, 773 37,483,604 33,038,902
386, 0.58 4,870.841 4.563.791
171, 173
1.809, 850
1,758,,775 21.609,504 20.443.734
202, 804 2,857.768 2,617,626

227.120
844.236

March
April
April

to Latest

Current
Year.

,560,234

246 ,351
198,407
505 ,371
454,077
170 174
68,119
222,740
373 031
18,282 4S0 15 ,792,773
1,072 8
923,479
3,813 378 3 .182,050

56,651
54 ,814
20 ,476
15,032
26,980
30 ,088
399,700 332 ,100
19 ,291
23,001
61 ,556
68,170
13 ,129
31,956
62,164
53 ,392 2,839,170
3,517.262 3,816 ,589 41,398,166
19,278
4 ,029
1,328
635,641
20Y MS, 2,420,212
23 7', 046
682 ,584 36,316,070
774,726
145,138
113 ,608 4,932,100
27 ,900 1 ,443 ,234
35,160
71,114
69 ,045
4,158,354 3,460 ,373 45,082.093
222,669
207 ,220 2,503,762
4,381,023 3,667 ,593 47,585,855
44 ,144 2,000,372
47,994
447 ,568 5,4»9,465
385,145
4,031,290 3,821 ,078 47 108,336
22 ,858
312,101
17,929
99 ,700 6,324,396
104,500
115,591
114 ,290 5,920,606
52 ,315 2,766,956
54,606
137 ,435 1,783,237
153,001
678,737
590 ,28, 6,325,257
1,817,144 2,638 ,997 27,198.658
430,477
40 ,603
43,694
Inc. 52 257
;hc.623,
96 416
71 ,640
851.153
800,870
715 ,800 40,018,534
136,100
11,796
9 ,603
44,060
42 ,778
311,116
13,720
8 ,550
87,777
31,765
30 ,174
301,775
2,500,372 2,270 ,240 23,315,446
111 ,833 6,789,937
138,031
146,500
125 ,000 5,855,600
23,930
26 ,782 1,072,524
6 ,015
8,1.33
694,297
13,247
13 ,275
70,945
70 ,598 3,403,115
165 ,807 10,71S,25fl
206,360
288 ,,830 19,856,994
317,333
667,000
612 ,000 39,834,884
26 ,000 1,790,720
28,000
695,000
638 ,000 41,025,610
100,676
66 ,458
773.105
964,619
829 059 8,997.262
268,368
232 ,741 12,868,247
3 ,311
46, .582
9 ,664
209,167
20,520
20 306
343,017
590 ,554 6.008,174
185,500
246 ,652 2,301 886
2,408,442 2,098 ,520 23,452,513
722.602
858 ,702 9.123,381
5,343,324 4,427. ,180 56,696,102

May
May
May
May
Cin Northern. May
Pitts & Lake E May
May
Rutland
N Y Chic&St L May
Ohio Riv & West February
ChicInd&Soui.
Mich Central..
CCC &St L..
Peo & Eastern.

AGGREGATES OF GROSS EARNINGS—Weekly

1st week
2nd week
3rd week
4th week
1st week
2nd week
3rd week
4th week
1st week

$

7,250,241
3,652,111
400,445
168,549
2.099.086
1,989.663
237,574
86,303
1.314.532

May
LS & M S
Lake E & West May

July 1

Previous
Year.

Current
Year.

or

N Y C & Hud Riv May

N O & Texas Pacific.
N O & N East May

Ala

Atl Coast Ltue.Balt & Ohio
Bangor & Aroost _
Bellefonte Central
Bridgt & Saco R.
Buff Roch & Pitts
Buffalo & Susq.Cal Northwestern

Previous
Year.

11.34
11.74
12.54
12.10
15.40
15.19
13.82
14.01
13.82

Month
Month
Month
Month
Month
Month
Month
Month
Month

Sept
Oct

Nov
Dec
Jan
Feb

Mch
Apr

Mav

1905
1905
1905
1905
1906
1900
1906
1906
1906

(118 rds) 161.431.629
(11.) rds) 170.615.148
(115 rds) 165.977.137
(113 rds) 1.59.312,944
(117 rds) 152,980.485
(118 rds) 142,650,542
(110 rds) 1,59,2.58,890
(56 rds) 52,409.705
(71 rds) 79,065.712

147.709,816 + 13,721,813 9.28
157.100.827 + 13,414,321 8.54
150.405,695 + 15,571,442 10.35
142,0.53,423 + 17.259,521 12.15
126.555,852 + 26.424.033 20.88
112,895.257 + 29.701.285 26.36
143.978,440 + 15,280,450 10.61
40,946.012 + 5,403,693 11.64
-r 9, 323.1 16 13.37
69. 742 ,.590

o Mexican currency, h Includes earnings of Gulf & Chicago Division, c Includes the Houston & Texas Central and its subsidiary lines in both
d Covers Unes directly operated, e Includes the Chicago & Ea-stem Illinois in both years, /i Includes earnings of Col. A South.. Ft.
Worth & Denver City and all affihated lines, fc Atlanta Knoxville A Northern included in both 'years since April 1; It had previously been
included in 1905 since Jan. 1: earnings of Transylvania Railroad included from Jan. 1 1906 and of East Division of Tennessee Ceatral from Dec. 1
in 1905 only.
I Figures prior to April 10 1906 "are those of the Indiana, IlUnois & Iowa and Ind. Harb. of Indiana.
years,

THE CHRONICLE.

1372

—

—

Latest Gross Earnings by Weeks. In the table which
follows we sum up .'^eparatelj' the earnings for the first
week of June. The table covers 40 roads and shows 13.82%
increase in the aggregate over the same week last year.
First week of June.

&

Buffalo Rochester

Pitts

Canadian Northern
Canadian Pacific
Central of GeorKia
CliattanooKa iSoiitliern
Chicai?o Great Western
Chic Ind & Loiii.sville

Chicago Terminal 'i'ran.sfer
Colorado & Southern (incl
Ft Worth & Denver City..
Detroit Toledo & Ironton
Duliith South Siiore & Atl...
Grand Trunk of Canada

& NashviUe
Mexican International
Mineral Range. .
Minneapolis & St Louis
Minn St Paul & S S M

Missouri Kansas & Texas
Iron Mountain
Central Branch

Mo Pac &

Mobile & Ohio
National RR of Mexico
Rio Grande Southern
St Louis Southwestern
Southern Railway
'

Pacific

Toledo Peoria & Western
Toledo St Louis & Western ..

Western Maryland
Wheehng & Lake Erie
Total (40 roads)

$
80,563

S
"51,966

972,000
173,250

265,000
34,650
949
9,948

2,076
137,517
109,519
31,745

1,973

230,437
332,100

53,392

21,744
67,600
3,710
6,614
8,772

682,584

Gas Works..\pr
to Aijr 30
HoughtonCo Elec Lt Co Apr
Jan 1 to Apr .30
Lowell Elec Lt Corp ..\pr
Jan 1 to Apr 30
Maryland <t Penna
.\pr
July 1 to Apr 30
Minnt ao Cen Elec Co -Apr
Jan 1 to .\pT 30
Toledo Peoria & West. Ma
Fall River

Jan

1

19,291
61 ,556

July 1 to May 31
Williamsp't & No Br...\pr
July 1 to Apr 30

47,994
104,500
115,591
54,606
800,870
138,031
13,247
70,945
206,360
317,333
667,000
28,000
160.829
268,368
9,403
163,206
993,391
204,519
18,112
65,653
514,480
112,300
92,383
8,709,804

3,850
4,800

44,144
99,700
114,290
52,315
715,800
111,833
13,275
70,598
165,807
288,830
612,000
26,000
137,630
232,741

1

2,291

2,188
8,751

8,751

662
3,378
3,833
38,335
8,908

735
4,111
3.833
34,317
9.070
39.145
23,318
263,583
2,883
28,304

.35,916

23,437
254,035
2,846
28,779

Name

4. .587

27,676
4,577
28,452
7,030
32,585
7,898
49,112
16,154
83.178

216
def38,388
2,097
13.9.39

28

152,064
849,055
182,849
20,070
69,973
433,336
82,980
111,949

Week or
Month

1

,958

4,320
19,566

7,652,380 1,165,223
1,057,424

Current
Year.

107,799

Gross Earn'gs
Net Earnings
Current
Previous
Previous
Current
Year.
Year.
Year.
Year.
Roads.
$
$
$
$
Balto&Ohio.b
May 6,817,033 5,840,176 2,289,112 1,807,208
July 1 to May 31
70,819,242 61,921,895 25,525,336 21,124,591
Bangor & Aroostook, b. Apr
242,225
189,021
94,474
73,290
July 1 to Apr 30
2,066,981
789,002
650,171
1,777,679
Belief onte Central. b. May
4,395
4,245
1,024
1,297
Jan 1 to May 31
22,568
7,124
23 ,846
4,219
Bridgeton&SacoRiv-b Apr
3,271
2,933
298
333
July 1 to Apr 30
38,997
37,958
11,405
12,151
Chic Ind & Louisv.a..Apr
492,054
487,477
150,100
173,358
July 1 to Apr 30
4,912,204 4,623,223 1,674,260 1,643,135
Edison Elec 111 (Brockton)Apr 12,939
10,508
2,313
2,981
'
Jan 1 to Apr 30
55,842
47,777
16,445
13,581
River Gas Works. Apr
Fall
22,837
22,784
6,491
4,875
Jan 1 to Apr 30
108,955
103,902
28,929
39,055

50,155

May

41 ,887

46,651
38,656
44,212
69,226
16,105
47,028
12,302
65,834

April

.

March
.

May
Chi & Mil Elec
d Chi & Oak Park. May
Clev Painsv & E_. April
Clev & S
Tr Co. May

RR Co.

.

Dallas Elec Corp'n.
Detroit Mon & Tol.
Detroit United Rv.
Duluth Street Ry.
East St L (feSub...
El Paso Electric

Wayne & Wab

Honolulu Rapid Tr
& Land Co
Houghton Co St Ry
Houston Elec Co..
IlUnois Trac Co

April
April

April
April
April
April

Indianap Col &«kSo. February
Jackson Consol Tr. .April
Jacksonv Elec Co - .\pril

Ry &

Lt. April

Lake Sh Elec Ry. _ April

Lehigh V Transit.. April
Madison & Int Trac May
Manila El Ry & Ltg
Corp Ry Dept. April
Lighting Dept.. April

—

Met West Side Elev May
Mil Elec Rv&Lt Co April
Mil

LtH &TrCo..

Montreal Street
Nashville

Ry &

Ajjril

Rv WkJune

9

Ltl April

NJ&HRRv&FCo.

Fonda Johns &Gloversv_a
635,641
17,237
80,806

592,527
15,127
Jan 1 to Apr 30
69,338
Long Island.b
Apr
Inc. 52,257
July 1 to Apr 30
Inc. 623 ,667
LowellElect LtCorp-a Apr
21,390
20,139
Jan 1 to Apr 30
94,592
83,574
Manistique.b
May
13,720
8,5.50
Jan 1 to May 31
36,696
27,483
Marvland & Penna.-.Apr
31,765
30,174
July 1 to Apr 30
301,775
267,439
Minneap Gen Elec Coa. Apr
62,137
55,083
Jan 1 to Apr 30
270,^39
236,455
Apr
Nevada Central. b
9,664
3,311
July 1 to Apr 30
46,582
28,828
Phila&Erie.b
Apr
502,562
632,566
Jan 1 to Apr 30
2,246,058 2,160,491
Rich F'burg & Pot
Apr
166,038
158,337
July 1 to Apr 30
1,377,229
1,225,709
Tol Peoria & West. b.Mav
93,410
102,658
July 1 to May 31
1,191,551
1,173,270
Tombigbee Valley
Apr
4,354
2,298
Nov 1 to Apr 30
26,549
17,300
Wabash. b
Apr 1,899,408 1,795,290
July 1 to Apr 30
20,675,162 20,901,546
W'ms'pt <feNo Brch.a.Apr
13,876
14,140
July 1 to Apr 30
148.321
139,899

300,068

279,426
8,.593
6,765
43,626
37,203
Dec. 61,902
Dec. 260, 126
6,486
7,765
35,935
36,696
6,068
4,460
647
9,735
11,346
11,731
83,429
103,845
25,224
29,937
142,163
122,32 3
6,951
1,720
25, .599
10,834
131,559
172,118
326,523
318,357
66,971
63,237
478,922
388,176
4,853
23,534
235,828
225,195
341
1 ,778
10,268
6,725
473,179
149,754
5,664,754 3,707,757
5,848
4,980
63,210
42,243

a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.

April
April
Niagara StC& Tor. April
Ohio Tr&Lt Co April
Nor

NORy &LtCo.-.

Northern Tex Tr Co March
Northwestern Elev May
Oakland Tr Cons.. FeBruary

.

Oklahoma City Ry March
Olean Street Ry... April
Orange Co Traction April
Pitts

M'K & Green

April
Co.. Abril

Portland Rvs
Puget S'd Elec Ry. March
St Joseph (Mo) Rv
Lt Ht & Pow Co. .April
San Fran Oakl'd &
February
San Jose Ry
Savannah Elec Co_ April
Seattle Electric Co_ .April
South Side Elev... May
Syracuse R T Rv.- .Apiil

Toledo Rvs

Urb

<fe

Previous
Year.

85,207
1,002,610

81,157
899,387

83,413

y4",6oi

33,135j

123,479

lb4",655

5,893
7,068
8,781
43,273

197,391

160,170

206,302
181,784
247,318
354,351
63,440
230,219

184,138
153,583
158,755
339,952
54,793
188,817

86,669
12,260
111,023
22,726

673,536
2,207,030
303,968
456,471
116,973

1.933,830
261,143
417,144
91 .226

79,543
22,618
235,372

202,331

2/29,500

2/29,184

26,247
f2,056
40,377
178,505
11,455
7,778
27,754
385,307
54,734

46,750
28,000
216,439
270,479
46,614
64,192
109,572
32,250
490,578
16.609
72,368
64,737
126,710
118,996
11.369
9,920
9,654
15,163
131.768
48,933

68,508
21 ,005

9,824

311,631
79,575
912,169
799,834

111,244
61,725
173,846
880,766
30,855
39,207
98,949
1,654,791
232,415
397,229
46,053

266,595

73.722
752,339
802,181
103,771
30,332
144,705
718,511
24,081
31,386
104.826
1,420,972
197,071
"40,575

174,750
116 750
194,004
254,788
42,573
53,037
94,278
25,524

177,049

924.487
996.815
154,261

,259,646

,096,612

423,504
102,720

345,784
74,878

,027,680
,075,038

,981 ,909
14, .576
68,8.38

53,689
120.688
100,354
10,934
8,549
12,468
123,163
35,954

51.352
283,603

46",874

261 ,728

627,912
240,618
29,830
35,814
32,172
54,507

589",692

205,027
33",96i

27.571
43,588

53,122

252,394

217,457

49,083
49,872
231,492
150,596
86,864
59,510
36,937
61,133
156,396
26,659
18,588
57,436
153,162
760,197
22,938

41,170
46,332
203,424
139,455
75,743
47,874
33,716

97,391
192,611
917.760
718,539
340,496

171.717
779,312
673.614
295,678

149,597
233,817
616,543
104,721
72,600
1,185,843
2,067,419
2,803,682

1179,580
578,074
89,126
63 ,568
1,038.816
1,777,160
2,542,505

20,425

13.518

r-1

&

Light .April
Inter Rv .April

69,813
71,520
18,202
54,219
14,248
80,384
5,657
99,350
15,280
114,439
31,449

60,197
.

Tacoma Ry&P Co. March
Tampa F'.lectric Co_ .April
Terre Hte T & L Co April
Tol

dcUe.

latest

19,641
127,406

28,057
17,966
47,173
222,200
14,999
10,216
26,226
435,650
63,685
82,571
10,604

March
March
1st wkJune
1st wkJune
1st wkJune

Valley Traction. April
Galveston Elect Co April
Georgia Ry & Elec Ajaril
Havana Elec Ry
WkJune 10

City

to

Current
Year.

Ry

Chat tanoogaRysCo

Kan

I

April

Cent Penn Trac

Ft

.

21,122;
211,2091
79,968|

May

W

reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of May 19 1906.
The
next will appear in the issue of June 23 1906.

Year

21,305
225,648
89,981
22,011
155,946
35,989
5,825
7,998
17,222
51,501

Burlingt'n (Vt) Tr.
Cape Breton El Co.

Charleston Cons
Gas & Elect

Previous

$

Albany & Hudson, April .
a American Rys Co. May .
c Aur Elgin&ChiRyl April .
April .
Binghamton Rv
Birm Ry Lt & Pow April _
Boston & Worcest'r .April .
Brockt'n&PlyStRy March

81,144
29,320

1

of

Road.

347
40,553
28,503
55,000
2,000
23,199
35,627
3,870
11,142
144,336
21,670

5,5.33

Jan.

Latest Gross Earnings.

85,070
26,198

—

Apr 30
Houghton Co El LtCo.Apr

,253

1,643
10,901

STREET RAILWAYS AND TRACTION COMPANIES.

Net Earnings Monthly to Latest Dates. The table following shows the gross and net earnings of STEAM railroads

to

13,529
5,804
36,421
6,405
34,875
5.824
32,557
7,513
65,510
21,029
106,247
defl8,584
defl8,207
3,002
24,431

S

def210
5,975

,301

Columbus

1

1

6.721
2.2.52

Previous
Year.

92,142

Net increase (13.82%)_

July

543
5,430
670
2,680
288

543
5,430
729
2,916
687
2,634
2,188

Net B'noH.—

of

Current
Year.
$
def245

$

Apr 30

.

1,364

252,181
399,700
23,001
68,170
62,164

to

1

—Bal.

J

Louisville

Wabash

S
171,741
82,400

Current
Year.

Roads.
Bridgeton &. Saco Hi v. Apr
July 1 to Apr 30
EdisonElecIll (Brockton i.\pr

Jan

—

&c.
Previous
Year

Int., Rentals,

X After allowing for other income.

Gulf & Ship Island
International & Gt Northern.
Interoeeanic of Mexico
Iowa Central

Texas

91,178
134,300
1,237,000
207,900
3,025
147,465
111,492
30,381

Increase. Decrease.

774,726

Denver & Kio Grande
Detroit & Mackinac

Grand Trunk Western
Detroit Gr Haven & Milw
Canada Atlantic

1905.

1906.

Vol. Lxxxn.

[

Toledo & Western. .April
Toronto Railwav.. Wk June 2
Twin Citv Rap Yr. 4th wkMay
United Rvs of St L .April
Wash Alex & Mt V -April

46,761
147,159
23 ,.542
17,790
.52,363

132,325
699,483
23,012

81 ,551

128",968

Whatcom Co Ry &
Light Co

March

a Figures for the month in both years include operations of the Scranr These figures
ton Ry., acquired Jan. 1 1906.
b Total is from March 1
are for consolidated company
d These are results for main line. /|Decrease in 1905 due to strike and boycott,
y Figures for the week iniboth
years are in .American currency.
.

Interest Charges and Surplus.
&c.
Previous
Year.
$
46,414
465,261

Int., Rcntalft,

Current
Year.
Roads.
$
Bangor & Aroostook.. Apr
59,866
July 1 to Apr 30
542,543
Billefonte Central
May
300
Jan 1 to May 31...'.
1,500

330
1.650

Bat. of Net E'ngs

Current
Year.
$

34,608
246,459
724
2,719

Previous

Year
$

26,876
184,910
967
5,474

—

Street Railway Net Earnings.
Thejfollowing tableTgives
the rettirns of STREET railway gross and net earnings
reported this \veek.
A full detailed statement, includingjall
roads from whicli monthly returns can be obtained, is given
once a'month in these'columns, and thejlatest statementjof

I

June

THE CHRONICLE.

16 1906.

this kind will be found in the issue of May 26 1906.
will appear in the issue of June 30 1906.

Chic

&

Roads.
Mil Elec Ry. _ _May

Jan

1

$

43,368
130,780

23 ,655
77,005

47,028
188,817

24,017
88,837

20,775
66,854

,023

60,477
226,829

Anaconda
Trenton (Col. Smelt.)..

Washoe

168,770
95,210

Total

Gross Receipts
1905-06.
1904-05.

$2,821,319
1,397,407
15,-509,832

16,613,537

81,932,837
1,449,851
14,634,923
13,787,345
847,421
1,097,018

Amalgamated.. 3,405,207

1,-549,099

1,146,981

3,293,980 3:39,038,175 S33, 749,395
Net Receipts
1904-05.
1903-04.
1902-03.
1901-02.
$5,855,620 $4,574,498 $4,053,465 $1,629,695
2,259,693
1,259,875 1,601,200 1,289,610
178,712
96,853
202,408
166,135
328,106
233,964
586,365
577,620
70,110
74,832
43,090
152,495

1905-06.

Bost.&Mont. $6,158,109
Anaconda... 5,753,265
Butte &Bost. 1,075,892

417,144

54,244
221,178

22,726
91,226

11,357
38,416

8,878
34,055

22,618
79,575

Apr 30
Galveston Elec Co_a_-Apr
Jan 1 to Apr 30
Houston Electric Co.a.Apr
Jan 1 to Apr 30
Houghton Co St Ry_a.Apr
Jan 1 to Apr 30
1

Bo.ston

& Montana

Boston

1904-05.
260,433
167,963
1,138,703
1,473,644
150,296
102,941

31,449
116,973

El Paso Electric Co. a .Apr

Jan

Previous
Year.

S

44,212
158,755

21 ,005

7,507
21,947

6,382

Total

$13,805,802 $8,692,241 $6,240,022 $6,486,528 $3,815,555

15,066
51,359

Note.

—in Washoeimprovements net receipts of .$357,164 as against
The
Company .shows
but

114,439
456.471

Apr 30

to

Current
Year.

54,219
230,219

to

1

&

1905-06.
246,593
163,519
1,209,805
1,521,310

Parrot

69,813
247,318

May 31
Cleveland &Southw_-May
Jan 1 to May 31
East St Louis & Sub. -Apr
Jan

Butte

Net Earnings

$

$

Tons Ore

The

next

Gross Earn'gs
Previous
Current
Year.
Year.

1373

to

1 ]

1

73,722

16,362
54,584

47,173
173,846

40,377
144,705

17,966
61,725

2,056
30,.332

26,226
98,949

27,754
104,826

6,319 def 23,929
12,305 def 43,205
10,172
12,810
37,744
45,981

277,015
541,528

Parrot

Trenton

$248,968

1905,

an apparent

in 1905, leaving

absorbed $532,883, against $367,517
$175,719 against $118,549.

deficit of

Portland Railway Co . . Apr
Savannah Elec Co.a_-Apr
Jan 1 to Apr 30

131,768

123,163

57,548

51.886

49,872
192,611

46,332
171,717

19,890
70,679

19,811

The holdings of the Amalgamated Company in the aforesaid properties, it is supposed, would entitle it to over 90%
of the net income (if correctly reported), besides which the
company has large outside interests, as stated in V. 80, p.
2394.

68,464

EARNINGS PER SHARE.

Seattle Electric Co _ a . . Apr
Jan 1 to Apr 30

231,492
917,760

203,424
779,312

78,434
304,594

59,300
235,272

Jacksonville Elec Co.a-Apr

Jan

1

Apr 30

to

Tampa Electric Co_a- .Apr

Earnings per Share
Shares.

Boston* Mont 150,000

36,937
149,597

13,239
65,204

13,263
50,598

Anaconda

61,133
233,817

Jan 1 to Apr 30
Terre Haute Tr & Lt.a.Apr
Jan 1 to Apr 30

33,716
128,968
46,761
179,580

25,566
83,886

11,982
51,116

Parrot

Butte

&

1,200,000
200,000
230,000
V. 77, p. 252.)

Bost.

—(Compare

a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.

Par.
$25
25
10
10

1905-06.

1904-05.

1903-04.

1902-03.

$4105

$39 00

$30.50

$27 02

4 79
5 37

188

105

89

48

120

143

101

133
1

01

2 55

See report in V" 82, p. 1320.

International Mercantile Marine

Company.

(Report for the Fiscal Year ending Dec. 31 1905.)

Interest Charges and Surplus.
—Int., Rentals, &c.

Current
Year.

Roads.

$

E

Paso Electric Co
Apr
Jan 1 to Apr 30
Galveston Elec Co
Apr
Jan 1 to Apr 30

Houghton Co

St

Ry

3,808
15,087

Savannah Elec Co
Apr
Jan 1 to Apr 30
Seattle Electric Co
Apr
Jan 1 to Apr 30
Tampa Electric Co
Apr
Jan 1 to Apr 30
Terre Haute Tr & Lt. .Apr
Jan 1 to Apr 30

Previous
Year.
S
3,420
13,657

The

-Bal. of Net K'nqs.—
Current
Previous
Year.
Year.
$

$

5,458
20,398

7,549
23,329

3,340
5,280

4,167
16,667

Apr

Jan 1 to Apr 30
Houston Electric Co.. Apr
Jan 1 to Apr 30
Jacksonville Elec Co. .Apr
Jan 1 to Apr 30

—

3,937
15,596

3,615
13,951

def 3,251

7,692
31,286

8,712
34,243

8,670
23,298

6,354
17.116

3,338
13,313
10,977
43,689
27,076
1U5,091

3,016
12,066
10,554
42,215
27,764
99,641
1.885

6,834
24,431
8,913
26,990
51,358
199,503
13,239
65,204
12,555
34,876

9,794
33,915
9,257
26,249
34,536
135,631
11,378
42,989
3,238
14,586

Nil.

Ml.

2,382 def 27,544
def 57,156

7,6 D J

8,744
36.530

13,011

49,010

ANNUAL REPORT 3.
Annual Reports.— The following

is

an index to

reports of steam railroads, street railways

all

annual

and miscellaneous

companies which have been published since the last editions
"Railway and Industrial" and "Street Railway"

of the

sections.

This index does not include reports in to-day's "Chronicle."

—

Page.
Baltimore Chesapeake & Atlantic. . l.ilt)
D aware I.ackawanna & Western.. 1097
Clrand Kapids A Indiana
109S
Grand Trunk Hy. of Canada
987
Hunfn
Top Attn. RR. & Coal 1207
N. Y.Chleaso & St. Louis
10.37
Pennsylvania Company
1153
Phila. Baltimore & Washington
984
Railroads
1

&Bd

& Lake Erie
%'est .Jersey & Seashore
AVestern .NY. <t Pennsylvania
Pittsburgh

Companies
AmalRamated Copper
.\nieriean Beet .Sugar
Indti.ilrial

-American Waltham
M.arch 31

1319
985

Columbus

<t

(bal.

Chicago Consolidated Traction
Chicago <t Milwaukee
Chicago Union Traction

.sh,

.1321
1153

Mocking Coal

—

Capital Traction, Washington
Chicago City Ry

1320
1099

Anaconda Copper Mining
Bethlehem Steel Corporation. 1039,
Boston Towboat
Butterick Co
Clarksburg Fuel

tVrcct liailtrays

984

—

Watch

—

—

Industrial. Companies
(Concluded)
Somerset Coal
..il54
Streets Western Stable Car Line
991
Tennes-seeCoal, Iron & RR
1208
United Copper
1321
United Gas Improvement..
.1101
U.S. Realty & Improvement
1209
United States Rubber
1100
U. S. Steel Corp. (3 mos. end. Mch.
31)
985

&

1050
1042
1207
1 1 55

Iron..l2('>()

Consolidation Coal
1154
Consolidated Rubber Tire
1043
Corn Products (offlcia! statement
.March 11)
1321
Empire Steel & Iron
.12(17
Fairmont Coal
1154
General Asphalt
120K
General IClectric
1038, 1047
International Nickel
1910
T.anston Monotype
1039
Michigan Stale Telephone
..1104
New England Teleph <fe Telegraph.. 1 104
.Northern California Power
1320
Pennsylvania Steel
1100
Philadelphia lOlectric
..1209
Pittsburgh & Fairmont Fuel
11.55
Pocahontas Collieries
1045

Dallas

920
507
1208
1097
.1208

(\irporation
Eastern Consolidated Electric
(Jeorgia Ry. <t Electric
Havana Electric Ry

801
691
627

Indiana Union Traction

44!)

l''leclric

802

Indianapolis Traction & Terminal.. 627
International Traction Co., Buffalo. (J24
Inter-State Railways. Philadelphia. 627
Knoxville Railway & Light
628

628
Rock Railway & Electric
Louisville Traction
692
Manila Elec. RR. * I-ighting Corp. 1041
Metropolitan West Side Elev., Chic. SO,")
New.ler.scv * Iludsrju Riv.Ry.&Fer. 510
Little

New

Orleans Railway

&

925

Light

Phila. Co. of Pittsburgh

1099,

Uno

Hao Paulo Tramway Light & Power. 1207
Toronto Rv
494
Twin City Rapid Transit..
550
Ignited Rys. it F^lectric,^ Baltimore. 1038
United Railways of St. I.ouis.
984
United Rys. Inv. Co. of .San Fran.- 7,53
Washington Ry. & Electric Co
800

Amalgamated Copper Company.
(Operation.^ of

Sub-Companies

The following

for

Year ending June

1

1906.)

been compiled from tlic rather
blind statements tiled annually for t.-ixation purposes with
the County Assessor at Butte, Mont., covering tlie value
of the ore mined, but not, it is .said, the miscellaneous receipts of the .several companies.
Ijj
figures liavo

C. A. Griscom and J.
14, says in substance:
The combined income account of the companies for the year 1905
shows a surplus of $3,127,491, as compared with a deficit of $1,378,741
for the year 1904. which includes a payment on account of trade agreement for that year of $236,643. While there is an increase in the gross
earnings of $4,515,926, and an increa.se in net earnings of $4,100,337,
there is a decrease in operating, administration and general expenses of
$589,555.
These figures do not include the operations of the Leyland and National
Lines, in which .your company has important holdings.
These Une
have made separate reports, showing profits for the year of £88,418 for
the Leyland Line and £12,076 for the National Line, all of which was

report, signed

by Chairman

Bruce Ismay, under date of June

written oft to depreciation.
Insurance.
No total loss was .sustained during 1905, and the insurances
fund .shows a profit for the year of $864,159. The net earnings of the
fund for the three years are $3,203,713, of which $442,502 was carried to
credit of profit and loss account 1903 and $1,761,211 to the same
account in 1905, leaving a net balance in the fund Dec. 31 1905 of
$1,000,000.
Balance Sheet.
During the year $2,744,000 additional 43-^% mortgage
and collateral trust gold bond.s'were sold at 88 >^ and interest to reimburse
the company for additions and betterments paid for out of current earnings, and the proceeds applied to the payment of floating debt incurred
by the subsidiary companies to pay for liew tonnage ami other property
acquired under contracts entered into prior to the organization of your
company. Further substantial payments on account of such floating
debt were made from current earnings, so that the item of loans, bills
payable and foreign bank overdrafts has been reduced from $10,311,190
to $6,326,989.
At the same time current liabilities have been reduced
from $5,554,559 to $4,828,584. There has been a reduction also in the
debenture bonds of the constituent companies of $326,405.
outstanding
In addition $2,000,000 has been transferred to cretiit of depreciation fund,
making total credit in insurance and depreciation funds $3,138,766.
The Company's Fleet. All the company's steamships, as well as its
other property, have been fully maintained and the cost thereof, together
with depreciation on all property other than steamships charged to operating expenses.
The new White Star steamer Adriatic is expected to be launched in
August and to be read.y for service early next year and to proving
even more attractive than the Baltic. 'Two steainers for the Leyland
Line, the Servian and the Scotian, have been launched, and the former
is expected to he delivered in October next.
The directors contemplate
the building of several new steamers to maintain the position of the subsidiary companies.
The steamers Gaelic, Belgenland, .Switzerland and
Pennsylvania, being obsolete, have been disposed of on advantageous

—

—

—

terms

The number of steamers now in service, including the subsidiary lines,
but exclusive of tugs, lighters, &c., is 126, representing a gro.ss tonnage
of 997,145, to which will be added, when the steamers above mentioned
are completed, 66,124 tons, making a total gross tonnage of your own
and subsidiary coinpanies of 1,063.269 tons. Of the vessels now in
service 32 steamshiiis aie under 5,000 tons gross; .59 between 5,000 and
10,000 tons gro.ss; 29 between 10,000 and 15,000; 3 between 15,000 and
20,000 and 3 over 20,000 tons gross.
General.
The depression in freights mentioned in our previous report
continued during the first nine months of 1905, and resulted in very
unsatisfactor,v ojierating earnings for our freight steamers, but during
the last three months there was a decided improvement, which has had
a correspondingly favorable influence on the accounts. The otUlook for the
year 1906 is decifledl.v more encouraging. The forecast of earnings for
the first five months of the year indicates a large increase over any corresponding i)erio(l in the history of the compan.v.
The df'tiioralization of passenger rates referred to in the report of
1904 terminateil in March 1005, and while it took some little time to
carry tlie passengers that had been booked at the lower rates, it is gratifying to be able to state that owing to the continued large general moveliient of pas.sengers, and to rates having been maintained at a remunerative level, the results h;ive been quite satisfactor.v.
Out of the totiil ntunl)crof jiassengers of all classes carried to and from
the United States and lOuvope, your sfeamoi-s carried 24.77'"c. iuid out
of the 87,895 first-class. 118,9.50 second cla.ss and 356.496 third-class
j)assengers carried to sind fioin Great Britain, in which trade the ma.jority
of vour services oi)(>rate, your steainers carried 50.8,S9 first. 49,082 second
anii 161,093 third-class,' being •46.34'';.
Out of the total nutnberof
23,014 first-class jiassengers carried to and from Mediterranean ports,
your steamers carri(-(l 7,965, or 34. 56'^;..
The Mediterranean jiassenger business has recently shown considerable
development, and it hsis lieen decided to still further strengthen this service hv the inclusion of the Celtic and Cedric for two or three voyages
each winter.
The trade between the United States an<l .\ntwerp has
suflicientlv incre;iscd to .iuslify repliicing the purely cargo boats jirpviously ojierated on the Boston and Philadelphia branch with the wellknowi'i i)a.ssenger and freight steamers Marquette, Manitou and Menoininec, by which a regular fortnightly service is now maintained on a

—

,

))rofltahIe

The

basis.

reciprocal

agreement with the Hainburg-.\merican Packet and

North German T.lo.\d Companies hiis resulted ailvantaceously to your
company this yciir. and consequent upon the very satisfactory dividends

THE CHRONICLE.

1374

declared l)y those companies a substantial payment has been received
from each of them.

EARNINGS. EXPENSES, CHARGES, ETC.
1905.

Gross voyage earnings
Miscellaneous earnings
terest, dividends,

1903.

$27,920,908

$29,077,756

927,400

—in-

&c

1904.

$32,435,512

380.515
533,570

1,119,997
239,607

Sundry earnings

_

Total receipts
$33,302,918
Gross, oper.&gen. expenses. 027,450, 174

Net earnings

$31,037,420
27.030,898

$5,900,744

$1,800,407

$4,000,522

$3,349,495
482,107

$3,312,151
469,283
64,123

$3,083,346
441,217
120,008

$3,845,557
dof$2,039,I50
897,053

.sur.$3.55,295

804,159

sur$2, 890,848

loss$l,142,097

on bonds
Intere.st on loans, &c
English income tax

48,.393

._

$3,880,055

Balance

Add

i3ur$2,02e,f)89

surplus insurance acc't.

Balance for the year

$3,645,220
1,442,502

—

Note.
The earnings for 1905 have been cliargod Ijy the company with
the payment of .$230,043 on account of tiadr- agreement for 1904.
Transferring this item from 1905 to 1904, the surplus for 1905 becomes
$3,127,491 and the deficit for 1904 becomes $1,378,740. See text above.
((Includes $1,040,045 for "overhauls, lay-up expenses and betterments" in 1905, again.st 81,489,322 in 1904.

COXSOLIDATED BALAXCE SHEET DEC. 31 1904—COMPRISING AMERICAN,
RED STAR, WHITE STAR, DOMINION AND ATLANTIC
TRANSPORT LINES.
1905.

1904.
Liabilities

—

Cost of prop'tiesl71.001,60S 171,036.213 Preferred stock.
Investments
f;oramon stock.
F. Leyland &
5% 1st M. bonds
Co.(lt)00),Hd 11,965,177 11, 965.177 4V^% M. & coll.
Nat. SS. Co. .Ltd
403.702
400,030 trust bonds..Sundry ship &
Deb. bonds conallied
CD's.
stit. co's held
exch memb'ps
by public
and Govt deps
G20.G5S
595.461 Loans on mtgesCash dep. with
Loans, bills paytrustees of m'ge
183.366
able. &c
Inventories
799,374
792,813 Acc'ts payable.
Acc'tsjgreceiv'ble
1,593,817
1.758,121 Agency balances
Bills rec. & loans
266.850
681.250 Int. accrued
Int. rec.&accr'd
16,924 Reserves
8,503
Adv. to Leyland
For liab. for reLine
1.466.425
1.323,256
habil. &rep'rs.
Adv. to Nat'i
for ins. claims
Line
221.312
265,098
& for outst'g
Agency bal'ces.
169.383
Dom. Lineshs
75,069
Market, stocks
Det. cred. to proand bonds
598.742
fit & loss
598,742
Cash in banks &
Ins. fund
on hand
1,165.984
830,835 Prot. & ins. fds.

1905.
S
51.730.071
49.932,735
19.S97.000

ac'ts.

voyage
chges. &

unexp.

in.sur'ce

Imprs.,
ments,

1.602.702

168.673

<S:c

Disct on 4H7<i
bonds

20.000,000

50,000,000

921,533
726,837

1,247,9.38

6.326.9S9
2.988.457
108,026
1,023,194

10.311,190
3,725,719
22.805
1,085,877

loss for

—

EARNINGS, EXPENSES,

Co., Ltd.)
1,105,505 Deprec. fund,.
Miscellaneous .
503,102 Surplus

Gross revenue.
Expenses, incl. taxes

&

720.156

2.046,407
1.000,000

maintenance

47,860
115,607
1,698

2,138,766
1.698
250.152

1,537,748
Total

192,545.672- 193,598.538

Net operative earnings from sales
Deduct
Estimated loss on account of explosion at Parhn
Interest paid and miscellaneous losses
Dividends paid

—

$695,549
16,527
26,742
318 ,000

".

Total deductions

327,918

31.

1905.
1904.
S
$
Capital stock (authorizen 810,000.000).. 6,050.000 5.500,000
Surplus
133,798
133,798
Reserve accounts
53,211
53,426
Bills & acc'ts pay'blel,138,060
776,437

Bonded debt
223.960

Liabilities

—

None.

None.

218.903
Total

7.375,069 6.463.661

..7.375,069 6,463,661

-V.82,!p.754 50.

Company

Bell Telephone

of

Canada.

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 38.58% of the capital stock (V. 82, p. 699.)
The report, signed by President C. F. Size and Vice-President Robert Mackay, says, under date of Feb. 22 1906:
12,035 subscribers have been added during the year, the total number
instruments now earning rental being 78,195. The company
operates 526 exchanges and 959 agencies. 4,871 miles of
wire have been added to the long distance system in 1905. The long distance fines now owned and operated comprise 37,082 miles of wire on
8,645 miles of poles.
$325,000 of 5% bonds were sold during the year, the net premium on
which, $16,250, has been carried to the contingent account. 10,000
shares of new stock were offered to the shareholders at 25% premium, to
be paid for in five quarterly instalments.
Three of these instalments are
included in this statement, bringing the paid-up capital to $8,004,840,
and premium on stock to the amount of $182,742 has also been carried to
thejcontingent account.

$361 ,269

REVENUE

Private lines
Miscellaneous

Undivided

Bond interest

Dec. 31 1905
Balance Sheet Dec. 31 1905.
Liabilities

Cash
Accounts receivable
Materials arid supplies.
Finished product

Permanent investment.

$21,175
272,248
359 ,054
154,094
9,944,006
$10,751 ,237

Accounts

&

—
bills

Capital stock
Works, accident
Profit

and

$666,098

&

loss

$494,405
9,600,000
dep. deb. 9,205
666,098

liabilities

$10,751 ,237

American (Bell) Telephone & Telegraph Co.
{Reports oj Sub-Companies for Calendar Year 1905.)
Below will be found the reports of the several sub-companies which issue printed annual statements.
These companies are all controlled by the American Telephone & Telegraph Co. through ownership of a majority of their issues
of capital stock, except the Southern New England Telephone Co. and the Bell Telephone Co. of Canada, in each
of which only a minority interest is held.
The proportion of the share capital owned, together with a description
of the outstanding securities, will be found in V. 82, p. 699;
V. 76, p. 596; also see V. 69, p. 1149; V. 73, p. 446; V. 80,
The Michigan State Telephone Co. operp. 1973 and 1731.
ates under license from the Bell interests, but is not controlled by the latter.
F. A. Pickernell, assistant to President Fish ."having returned to Boston after a five months' tour of tlie Western
telephone properties, is quoted by the "Boston News Bureau":
The Missouri & Kansas situation is straightening itself out. The original trouble with this company was that it neglected to occupy its entire
field and left wide gaps open for competition.
This error is being rapidly
adjusted.
In two years the number of stations has been doubled and the
work of expansion is being pressed more vigorously than ever. In 2 or
company should be over

$2,933,654

$2,522,275

$2,073,492
19,964
25,409
100,000
12,883

$1,787,429
21.442
20.488
100,000
10,765

$2,615,277

Miscellaneous

$2,231,748
$701,906
588.118

$1,940,123
$582,152
467,510

$113,788

$114,641

1905.

1904.
$
7,916,960
2,000.000
1.845.410
44.800

Net revenue
Dividend (incl. Jan. 1906) (8%)...

,5902,319

650,216

Surplus for year

its difficulties.

Assets

—

$252,103
1905.
S

Plant and patent
account
1 1,184,136
Stores on hand
560,810
Realestate
1,370,103
Stock in other companies...
947,556
Due from agencies
121,386
Debtors
104,744
Cash
107.567
Total

57.172
$1,701,016
644,671
12,557
164,032

$3,517,596

-

BALANCE SHEET DEC.
Total

1903.

1904.

66,160
$1,980,186
761,991
14,735
176,742

$2,435,239
27,953
27,753
102,580
21,751

—

Total expenses
pay'ble

.ACCOUNT.
1905.
78,195
$2,325,721
901,367
17,150
273,358

Telephone subscribers Dec .31
Exchanges (less unearned rentals).
Long distance Unes

Total receipts
Expenses
Operating
Legal
Insurance

SJyears the

$127,623

1905.
1904.
S
S
Plant
6,146,704 5,333,278
Realestate
467,447
448,673
Contracts & licenses. 210,000
210,000
Supplies, &c
248,540
190,658
Cash
78.412
62.149

Resources —

Excess earnings over dividends 1905
_
$334,280
Undivided profits Jan. 1 1905
$718,854
Adjustment of book value of finished and unfinished
powder on hand Jan. 1 1905
387,036 331,818

assets

$192,118

now owns and

International Smokeless Powder & Chemical Co.
{Report for Fiscal Year ending Dec. 31 1905.)
The report made public some time ago shows:

W-

783,671
$4.55,541

ot sets of

1904-..

—Total p. 031.
V, SS,

845,145

{Report for Fiscal Year ending Dec. 31 1905.)

113,193

—

$1 ,239 ,21

$555 ,118
363,000

Balance, appropriated for depreciation

1,488,433
1.897,052

309.400

Total
192,545,672 193,598,538
V. 82 p. 512, 337.

Assets

1904.
36,611

1905.
45,563
$1 ,400,263

Net earnings
Dividends (6%)

Total

648,908

1904

profits

&c.

Stations comieeted Dec. 31

&

.

1

The
owned
The

Bell Telephone Co. of Buffalo.
{Report for Fiscal Year endiny Dee. 31 1905.)
American Telephone & Telegraph Co. on Dec. 31 1905
50.23% of the capital stock (V. 82, p. 699).
results for the calendar year were:

Bills
acc'ts receivable. &c

before deprec.
or prop of losses of Leyl. &
Nat'l lines, less
surp. ($501,401)

Jan.

V. 82. p. 1158, 989.

BALANCE SHEET DEC.
745.496

for SS.

Adriatic

Net

equipped witli the most modern apparatus. The Rocky Mountain Co.
appears to have the situation well in hanrl.
The Pacific iStates Tel. Co. will come out of the San Francisco disaster with
a loss of only $1 ,500,000, or a little more than 5% of its entire as.sets. This
loss is princij)ally confined to the destruction of the buildings and apparatus above ground.
The expensive imdergrouiid conduits have been
uninjured.
The company was preparing to abandon in September two
of the six exchange buildings destroyed.
At the t)resent time the Pacific
States Co. could furnish telephone .service to 4,000 more subscribers.
The 50,000 stations lost l)y the confiagration will be replaced with the
growth of the city, and when San Francisco is rebuilt, as it will be, the
Pacific States Co. will be found to have regained all that it has lost.

(Oe.Sfm Nav.

better-

Shipway

1904.
S
52,2.55.971
49,932.7.35

52.744.000

.

Open

The Bell of Missouri has shown itself able to handle the .St. Louis situation satisfactorily.
The growth for the first four months of 1900 has been
very rapid, amounting to a greater gain in stations than during the first
nine months of 1905.
h^
The Kock.v Mountain Co. is showing satisfactory result.s and 1905 was
a good year in spite of the large expenditures made all through Montana
in reconstruction work.
This worli has now been practically completed
and means that the company tias room for future expansion, besides being

sur$l,797,797

Deduct—
Interest

[Vol. lyxxu.

1904.
S

31.

—

Liabilities
$
Stock account
8,604,840
9.273,756 Bond account
2,325.000
389.791 Contingent acc't.. 2,194,408
45,318
1.284.931 Revenue account.
L'nearned rental
927,0571
reserve
464,088
149,265 Insurance reserve.
250,000
150.000
249,011 Accident reserve..
29.062
575.702 Bont int. reserve..
Sundry creditors.. . 333,587
1

1

1

14.396,303 12,849.512

Sec item on following

14.396,303 12,849,512

Total

page of

397.088
200.000
100.000
25.000
320.254

this

issue.

— V.

82,

p

571.
Bell Telephone Co. of Philadelphia.
{Report for Fiscal Year ending Dec. 31 1905.)

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 80.81% of the compan3'^'s capital stock.
President U. N. Bethell, under date of Feb. 5 1906, says:
There has been a gratifying increase in the number of patrons of your
company, and its controlled and sub-licensed companies, in all parts of
Stations in service Jan. 1 1905, 82,497; net gain in
the territory, \iz.:
stations for the year, 42,293; stations in .service Jan. 1 1906, 124,790.
New stock to the |)ar value of $1,993,050 was issued during the j-ear,
being all the stock heretofore authorized b.v the stockholders. A proposition to increase the capital stock of the compan,v will be submitted to
the stockholders on Feb. 20 1906. (The authorized issue of stock was
on Feb. 20 duly increased from $16,000,000 to $30,000,000, and the
shareholders were permitted to subscribe at par to $4,000,000 of the new

-

June

—

J

THE CHRONICLE.

16 1906.

3tock, making the outstanding stock $20,000,000, subscriptions payV. 82, p. 453.— Ed.)
able 50% April 2 and 50% June 2 1906.

COMPARATIVE STATEMENT.
1903.
45.544
21,724
$2,446,028
1,831,330

1902.
40,837
18.160
52,010,010
1,572,743

$614,698
315,542

$437,267
211,502

$930,240
$945,256
(6)836,010(71^)852,367

$648,769
(8)658,459

1904.

1905.

StatlonsDec .31 this co

f

. 1

3,155,834

82,497
$3,559,702
2,810,803

$1,085,694
192,869

$748,899
196,357

124,790
do
controlled COS.
Telephone earnings. _ $4,241,528

Telephone expenses..

Net tel. earnings
Net other income

Total net income.. $1,278,562
899,068

Dividends

Balance to surplus.

1

$109,246

$379,494

$77,873

def .$9,690

The additions to construction account in 1905 aggregated $2,784,025,
Underground plant, $1,334,309; aerial plant, $1,110,396; equip-

viz.:

ment, $339,320.

—

PROFIT AND LOSS ACCOUNT

—

—

—

STATIONS IN SERVICE AND
Baltimore.

Dec. 31 1905
Dec. 31 1904

BALANCE SHEET DEC.

1,278,562

—

—

I

Total

Total

—V.

19.063.867 15,377.495
82, p. 453, 394.

&

Central District

19.063.867 15.377,495

Printing Telegraph (Bell Telephone) Co.,
Pittsburgh, Pa.

The American Telephone & Telegraph Co. on Dec.
owned 66.94% of the capital stock.

31 1905

74,189
59.499

4,632
4.165

Sub-

Private

stations.

Toll
stations.

2,275
1.954

Dec. 31 1905
Dec. 31 1904

line.

Total

license, stations.

992

RECEIPTS AND EXPENSES.
1905.
1904.
Expenses
S
$
2,450.117 2,153,000 General
Toll
734,225
692.777 Operating
Private line
77.950
70,865 Maintenance
Real estate
95,067
91,081 Rental & royalty
457
Dividends & interest
7,318 Private line
Sub-licensee
5,809
3,780 Real estate
Miscellaneous
8.667
36.613 Int. & miscellaneous

Revenue
Excliange

—

—

Total

Total

3,372,292 3,055,434

dividends

Amoiint added to surplus
1905.
A ^scts
$
Construction
10,225.757
Supplies
161.390
Tools and teams.23,694
Real estate
1,045,765
Acc'ts receivable..
385,993
Cash
17,861

Total

1904.
$

550.459
.582.857

813,988
126,980
5,553
53.168
21.883

102,471

BALANCE SHEET DEC.

—V. 82,

1905.

$
601.859
661.736
985.107
139.885
8.809
48.267
24,158

2,469,820 2.154.:
902.471
900.545
800,000
800,000

Netearnlngs

8%

100,544

31

1904.
1904.
1905.
Liabilities—
S
$
$
9.432.573 Capital stock.. .-10,000,000 10,000,000
227. 0021.Surplus
580.573
574.676
20,022 Accounts payable.
407.378
345,699
965.927 Bills payable
701.000
372.470 Reserve, unearned
79.522 rent'ls, taxes, &c.
171.513
177.141
I

1

Total ..

11.860,465 11.097.516

-.11,860.465 11.097,516

p. 394.

to

1,953,736

Sub-Licensees .)

letters

1,468,644

1,263,831

995,389

240,230
500,022
527,096
102,124
92,891
2,183

222,542
424.117
638,664
84,697
80,165
631

166,795
288.333
531,051
53,001
33,567
3,689

164,614
206, 4ll
410,335
40,488
29,911
3,189

1,464,546
489,189

1,450,816
17,828

1,076,436
187,395

854,948
140,441

281 ,169
147,160

232,054

183,426
sur.2,642

Traffic

Maintenance
Rentals
Real estate
Sundries
Total

Net earnings
Deduct

—

Balance

from 35

of its sub-licensees,

1,326

BALANCE SHEET DEC.
Assets

—

Telephone plant, contracts

&

1905.
$

1904.
$

244,381
25.440
436,004
508,032
92,984
21,501

Supplies
Acc'ts receivable

Cash

_

Stocks and bonds

Liabilities

Gibson City, 111.; Hannah-Jackson Telephone Co., Greenfield, Ind.;
Haskins (O.) Telephone Co.; La Rue (O.) lelepiione Co.; Logan & Minton
Telephone Co., Murphysboro, 111.; Madi.son (Ind.) Telephone Co.; Mattoon (111.) Telephone Co.; Matthews (Ind.) Telephone Co.; Miamisburg
(O.) Telephone Co.; Montgomery Co. (111.) Teleplione Co.; Newcastle (O.)
Telephone Co.; Prairie Telephone Co., Brook.ston, Ind.; Racine (O.)
Telephone Exchange Co.; lUsing Sun (O.I Telei)honc Co.; Caledonia (().)
Telephone Co.; Cariinsvillc (111.) Telephone Co.: Crescent Telephone Co.,
Weston, O.; People's Telephone Co., Mt. Blanchard, O.; T. P. Johnson
Telephone Co., Lochiel, Ind.; Thornton (Ind.) Co-operative Telephone
Co.; Tipp Interurban Telephone Co., Tippecanoe City, O.; Van Buren (O.)
Farmers' Mutual Telephone Co.; Vancel)urg (Kv.) telephone Co.; Waldo
(0.) Bell Telephone Co.; Web.ster Telephone Co., Luckev, O.; Western
Indiana Teleplione Co., Goodland, In<i,
V. 82, p. 6.'?0."

—

Chesapeake

&

Potomac

(Bell)

Telephone Company.

(Report for Fiscal Year ending Dec. 31 1905.)

The American Telephone & Telegraph Co. on Dec.
owned 57.06% of the capital stock (V. 82, p. 699).

31 1905

President U. N. Bethell, under date of Feb. 19, saysi

—

stock

I

I

9.392.564 8.249.4731

Total ._

9,392.564 8,249.473

The additions to construction account in 1905 aggregated Si 017 361 viz Exchange aerial. .$345 773: underground conduits,^ $124,388: underground cables $99 092: equipment, $395,547: toll lines. S52. 561.— V. 80. p. 2396.

Chicago

(Bell)

Telephone Company.

(Report for Fiscal Year ending Dec. 31 1905.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 52.04% of the capital stock.
President Arthur D. Wheeler, under date of Jan. 17 1906,
says in substance:
The Chicago exchange system boundaries have been enlarged from time
to time from the 16.3 square miles in 1889 to 82 square miles in 1905. We
are not aware of any similar telephone area with corresponding density
of population and telephone development elsewhere in the world.
The payment to the city of 3% upon the gross receipts from the telephone business done within the city was $122,930 48, making a total of
$942,505 96 paid to the city on that account under the ordinance of 1889.
At the close of 1905 143,223 subscribers' stations were in service, 25,330
more than at the end of 1904; 7,686 stations of this increase are found in
the suburban and rural districts, in which the company operates in IlUnols
and Indiana; telephones are installed in seldom less than 80% and in
many districts over 90% of the farm houses.
The company is now at a point where further enlargements and improvements should be made. This makes it necessary now to ascertain
the desires of the city of Chicago as to tlie future relations between the
city and the company, in view of the expiration in January 1909 of the
ordinance defining most of the present relations with the city (see V. 82.
p. 454,

572,694).
Earnings, Expenses, &c.
1905.
143,223

1904.
117,893

335

.

254

101,187
235

79,295
197

187,231
51,711
52,213

161,202
46.697
45,189

149,234
40,480
41,484

123,708
32.570
38,742

1903.

1902.

Miles of wire

Underground..
In aerial cables.
On poles
.

$

$

Gross earnings... 7,131,342
Oper. expenses .. .5,504.531

$

$

6,373,116
4,809,600

5.534,590
4,113.246

4,570.806
3,368.335

viz.:

Arcadia (O.) Mutual Telephone Co.; Alfred Kelley, Waterloo. Ind.,
Bloomingville (O.) Telephone Association; Beadon P. Blair, Franklin, O.;
Charles A. Ayres, Martmsville, O.; Central Ohio Telephone Co., Centerburg; Citizens' Telephone Co., Byer, O.; Citizens' Telephone Co.. Fairmount, Ind.; F. G. Horn, Bloomdale, O.; Gibson Home Telephone Co.,

31.

1905.
1904.
S
$
(par
7,118,2681
SlOO)
2.650.000 2.650,000
235,944 Bonded debt
1.370.000 1,396,000
22.707 Bills payable
4.699.000 3,724.000
353.533 Accounts payable... 552.059
347 082
443. 140] Reserves
51.608
123 354
54.382 Surplus
69.897
9 037
21.501
I

ICapital

licenses..; 1,064,221

Real estate
Furniture & fixtures.

No. telephones -Conduits (miles).

The only recent statement of operations was the report of
new subscribers, sub-hcen.sees &c., obtained in 1905. (See
"Chronicle" of March 17, p. 630.) A pamphlet issued by
the company in 1905, entitled "Partnership Better than
Competition," contained

45,892
23,609

1902.
$
879,829
54,138
38,663
22,759

—

Central Union (Bell) Telephone Co., Indiana, &c.
(Statement as

1903.
$
1,104,011
90,319

sur.60,860 def. 214, 226

Total
Expenses
General

82,738
66.610

1,642

Total.

52,620
35,542

1904.
$
1,257.241
122,404
66,708
22,291

Real estate
Sundries

Total

STATIONS.

Elsewhere.
8.133
4,572

15,311

1905.
$
1,668,481
174,261
89,751
21,243

Sundry adjustments

President D. Leet Wilson, under date of Feb. 8 1906, savsThe contracts for the addition to our general office building, 7th Ave.
Pittsburgh, were awarded in May 1905 and it is expected to be ready fo^
occupancy by July 1 next. The cost of the addi tion, including the powejWhile no new shares of stock
plant, will be approximately $305,000.
were sold during the year, there was expended $873,023 for real estate
and for extensions to the plant. To care for these expenditures there
were offered to the shareholders $1,000,000 of new stock, all of which
was subscribed and paid for on Jan. 31 1906.
Exch'ge.

—

Exchange

Interest charges

(Report for Fiscal Year ending Dec. 31 1905.)

NUMBER OF

23,285
15,659

Toll
31.

1904.
1905.
1905.
1904.
Liabilities
Assets
$
$
S
$
Construction
15.921.578 13,137.553 ICapital stock
15.993,033 13,999.983
Real estate
1..598.271
1.419,499 [Surplus
841,241
45i;556
Accounts and bills
Stocks and bonds.
101,000
payable
Bills & accts. rec675,028
392,472
1,959,251
692.046
Dividends
Supplies, tools and
239,767
209.872
furniture
221.982 Otiier reserves
340,277
30.575
24,038
Cash and deposits.
427.712
205.989

UNDER CONTRACT.

Washington.
21,202

EARNINGS AND EXPENSES.
Earnings

Net income as above

4,434,397

Total

1375

Improvements
Substantial progress has been made during the year in
reconstructing the plant throughoiit the territory, but much work of this
character remains to be done. Because of the large increase in the business it has been necessary to make substantial additions to all branches of
the plant. Funds for the purpose have been raised by issuing the company's notes. The underground plant in Baltimore has been largely extended. Similar work was carried on in Washington, about 38 miles of
duct having been constructed. It is proposed to carry on the work vigorously during 1906. To Dec. 31 1905 the American Telephone & Telegraph Co. has invested in lots and buildings in Washington and Baltimore,
for this company's u.se, the sum of $904,514.
During the year the Secretary of the Navy, at the request of
Rates.
the President of the United States, took up with the company the question of rates and practices applied in furnishing .service to the national
Government, and as a result satisfactory arrangements with the different
branches of the Government have been made. Various modifications of
our charges for service in Baltimore, Wa.slungton and other parts of the
territory have been made during the year, one of which was the reduction
of the rate for measured service private branch exchange stations from
$12 to $6 per annum.

1905.

Expenses
$
$
Exchange and toll service. 4, 222,676 General and taxes
474,311
Procuring and handling
Private and leased lines
traffic
18,852
and instruments
1,236,473
6,183 Maint., insur. and rentals. 1 ,244,502
Dividends and interest
Real estate and sundries . . 1 86 ,686 Real estate, interest, &c. . 200,548
Earnings

.

Netearnlngs ...1,626,811
1.563,616
1.421,344
1,202,471
Divid'ds paid (10)1 ,400,000 (10)1 ,400,000 (10)1 ,274,835 (10^)1 ,075,193
Surplus

226.811

163.616

BALANCE SHEET DEC.
Assets

—

Plant
Real estate

and
1.509.895
216,394
104,263

1.346,560
163,039
114.650

173.576
251,321

396.546
511.313

Investments
Bills .and accounts
receivable (net).

Cash

Total

127.278

1905.
1904.
Liabilities—
$
$
14.317.138 13,208.689 Capital stock

buildings
Material

—V. 82,

146.509
31.

16,572,589 15,740,397

1905.
1904.
%
%
14,000.000 14.000.000
Reserve for taxes.
168.006
157.290
Res've tor ren'w'ls 1 276.:J92
913,826
Reserve for unearned rentals..
38.122
39.891
Reserve for Insur. _
150.000
Res. for doubtful
accounts
43.303
Res. for bidgs.. *c
37,560
Reserve for outstanding tickets
3.892
1.007
Surplus
855.194
628.383

Total

16.572.589 15,740.397

p. 694. 672.

Colorado (Bell) Telephone Co.
(Report for Fiscal Year ending Dec. 31 1905.)

The American Telephone & Telegraph Co. on Dec.
owned .52.81% of the capital stock.

31 1905

President E. B. Field, under date of Feb. 15 1906, says

THE CHRONICLE.

1376

The increase in the number of telephone subscribers for the year wae
8,643, viz., from 37,102 to 45,745; the total miles of exchaiiKc lines
Dec. 31 1905 were 78,463 miles, an increase of 12,816 miles; total miles of
Added to real estate during the year
toll iine 14,569, an increa.se of 990.
was $47,349; to plant, $1,006,035.

EARNINGS, EXPENSES,
Number

&e.
1904.

1905.
45,745
$
1,363,036

-

369,207
5,907
37,010
18,366

-

1,793,526

1,497,349

-

333,678
453,826
336,226
79,937
30,132
163,295

277,838
391,755

Exchange service.Toll service-Private lines...
Real estate
-

Total
Expenses
General
Operating
Maintenance..
Instruments rental

—

Interest

Reserve for maintenance and miscellaneous
Total
Net earnings

1,397,094
396,432
304,826

-

Dividends (6%)

91,606

Revenue, balance

BALANCE SHEETiDEC

37,102

•Total

314,20.

66,12
20,18
48,09
1.118,19,

379,15
253, 90»

125,244

6,610.860 5,696,175

(Bell)

Telephone

&

Telegraph" Oo.

Earnings, Expenses, Charges, Etc.

,

42 ,997
67 ,526
24 ,529
Total number of BeU stations
646
6,973
7,619
toll pole line
650
34,736
35,386
Milesof toll wire..Included in the 12,535 sub-licensee stations are 5,973 stations connected
to properties in which the Missouri & Kansas Telephone Co. owns a conDuring the year there was sold to the Pioneer Teletrolling interest.
phone & Telegraph Co.: Exchanges, 4; stations, 2,896; miles of toll pole

1903.
1902.
1904.
141,266" 121,313
103,744
92,425
Total subscribers Dec. 31.
...$3,126,128 $2,718,592 $2,401,305 $2,205,082
Exchange service
969,133
796.778
1,372,405 1,174.743
X
Tolls
1,318
3,684
1,504
1,622
PrivaVe'UnesI
44,249
29.592
24.104
45.451
Real estate
78.693
40,515
88.029
110.816
sources
Other

$4,656,422 $4,027,117 $3,480,041 $3,070,163

—

Total ...

Expenses
$357,021
General expense
989.629
Operating expense
Maint. reconstruction, etc. 1,622.744
7,577
Real estate and misc

$325,982
828,630
1,425.477
5.719

line, 708; miles of toll wire, 3,593.

EARNINGS, EXPENSES AND CHARGES.

$307,598
697,442
1.159,145
6,735

$254,479
578.111
1,225,266
10,328

Exchange

—

$160,108
160,058

Taxes
Interest"

Dividend's"" II" I -I

$121,137
146,005

(7)940,691 (7)818,674

BALANCE SHEET DEC.

t.

$123,544
$80,720
145,487
139,094
(7)766,383 (7)623.203

$1,260,857 $1,085,816 $1,035,414
$273,707
$355,494
$418,594
$1,940,843 $1,522,249 $1,166,757

Total deductions
Surplus earnings
Total surplus Dec. 31

$843,017
$158,962
$893,048

31.

1904.
1905.
$
t
13,449,660 11.695,360
19,198,739 16,366,624 Capital stock
Bonds and debs... 1.091.000 1,265,000
and
1,940.843 1,522.260
580,102 Surplus
645.260
buildings
208,835 Reserve for renew. 1,114.781 1,024.371
.393.178
Materials
272,364 Bills and accounts
46.611
Stocks and bonds.
payable (net).,. 2,626,210 2,079.172
419,816
.258,601
Cash..
Due for real estate.
13,700
21,760
Res.forcont.liab.
63.219
62.788
Undivided profits.
235,369
204.669
1905.

1904.

Liabilities

—

Plant
Real estate

•

Total

.20.642,391 17.847,731

20,542,391 17,847,731

82, p. 280.

Hudson River

(Bell)

Telephone Company.

{Report for Fiscal Year ending Dec. 31 1905.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 52% of the capital stock.
President Union N. Bethell, under date of Feb. 26 1906,
says in substance:

The additions to construction account in 1905 aggregated $749,501,
viz- Real estate, $90,942; underground plant, $131,443; aerial plant,
$323 788; equipment, $203,328. The most important improvements
made during the year were the completion of the new exchange buildings
New
at Plattsburgh, Sandy Hill, Rensselaer, Saratoga and Newburgh.
toll lines were constructed between Saranac Lake and Malone, Glens Falls
and Schuylerville and Glens Falls and Hartford; and additional toll circuits on existing pole lines were erected between all the principal exchanges. The plant is being placed upon a more permanent basis, resulting in economy of operation and an Improvement In service.
Stations in Service Jan. 1
Gain.
1906.
1905.
4.208
28 ,786
24 ,578
Stations operated by company
5.128
10. 015
4 ,887
Stations operated by sub-licensees
EARNINGS, EXPENSES AND CHARGES.

Earnings —

Exchange service
Toll service

Private lines, &c
Realestate.
Miscellaneous

—

1905.
,,* .„,
659,186
272,224
24,061
31.000
32,527

1,018,997

Total

Netearnlngs

Deduct— Interest charges
Dividends (6%)

1904.
$
627,736
246,095
12,450
22.191
29,886

938,3641

Expenses
General
Operating

1904.

1905.
S
149,171
263.215
256,415
45.061
42,020

132,346
237,453
210,142
41,725
27.956

I§5-??§
Sk'AcI
oiV'^SQ
234,483

—

Maintenance
Instrument rent
Real est. and misc..
Total

Realestate
Miscellaneous

649,622
288.742
44.326
234,372
sr.10,044

Expenses
General
Operating

1905.

—

Maintenance
Instrument rentals..
Real est and misc. . .
.

Total

1904.

S
285.566
472.513
390,000
68,009
53.077

170,539
406.869
390.000
63,408
51.640

1,269.165 1,082.456
234.719
245.868
211 866
82,280
211.341
212.817

Netearnlngs

Deduct— Interest charges
Dividends

293.621

424,683

..del. 189.964 del.47,753

Balance

BALANCE SHEET DEC
309.784
675.171
229.779
252.175
69.254

Ace' ts receivable

Cash
stock and bonds
Miscellaneous
also

31

248.816 Bonded debt
253.654 Surplus
"" "
79,474 Acc'ts payable
Reserves
27.330
1

10.774.880 6,398.511
Telegraph Co.

Am. Telephone &

New England

(Bell)

Total

1904-

1905.
$

—

Construction
Realestate

7-.ee

.

1904.
1905.
LidbUities
$
$
9,238,718 5,789.237 Capital stock

Assets—

S

3,618.800 3,522.400
475.000
463.000
293.727
579,462
6,361 194 1,800,013
21,636
38,159
,

10.774,880 6,398,511

above.— V.

Telephone

80. p. 2396.

& Telegraph

Co.

{Report for Fiscal^Year ending Dec. 31 1905.)

The Amer. Teleph. & Telegraph Co. on Dec. 31 1905 owned
See V 82 p 699
58.27%ofthe co mpany 's capital stock
.

.

,

.

President Thomas Sherwin, under date of May 7 1906,
says in substance:
General Results. Compared with 1904 there was an increase of gross

—

revenue of $747,682; of expenses. $566,803; of net revenue, $180,879.
The number of stations acided to our lists was 33,804, making the total
Including also the exchanges of the
at the end of the year 166,563.
Southern Massachusetts, Northern, White Mountain and Vermont companies, the total number of exchange stations operated imder our management in Maine, New Hampshire, Vermont and Massachusetts was 185,448,
In addition there were
as compared with 148,099 at the end of 1904.
18,373 stations equipped with Bell telephones and operated by sub-

licensees in small towns and rural districts, making the entire number
This
of exchange and toll stations connected with our system 203,821.
growth Is unprecedented in the history of the company.
The underground system now consists of about 505 miles of conduit,
containing 2,492 miles of duct; 5,907,105 feet of cable have been drawn
Into the underground system.
New Construction Maintenance. The expenditure for new construction during the year was $1,941,895; for repairs and maintenance.
$2,778,897; total, $4,720,792; as against an expenditure In 1904 of
estimate that the expenditure for 1906 will be: For
$3,840,097.
new construction and real estate, $2,750,000; for maintenance, $3,000.000; total, $5,750,000.
New Stock. During the year 1905 payment was received for new
stock issued, $3,064,600, under circulars of 1904 and 1905, making the
outstanding capital stock Jan. 1 1906. $26,244,600. The second instalment upon the subscription made under circular of July 26 1905, $1,514,400, was paid in Feb. 1906, making the present Issued capital, $27,769.000 (see V. 82, p. 1104).

—

—

We

—

Statistics.

— Results

of operations

were as given below:

1900.
1901.
1902.
1905.
1904.
1903.
Dec. 31—
MUes of exch. wlre..306,221 249,548 220,749 183.421 143,958 118,610
67,077
Exchange stations... 166 ,663 132.759 114,102 100,864 84,131
457
461
Express stations
7.014
6.744
7,163
7.070
6.699]
Private line stations.
Sub-license contract
(
_ .„„
7.687
2,419)
6.844
9.951
18.373
13.176
stations
.192.099 153.005 131.067 114.452 93.700 76.121
Total stations

On

—

RECEIPTS AND EXPENSES.
1902.
1903.
1904.
1905.
$
$
$
$
5.677,136 6.216,013 4,856,596 4,413.024
...2.022,833 1,759,834 1,544,930 1,361,262
137,445
117,387
152,380
Private Hne and misceUaneous. 163,248
66,222
70,126
66,659
66,437
Messenger earnings
1.800
10.052
3.672
47,019
Real estate revenue
44.857
100,154
118,724
105,572
Interest

Revenue —

Exchange

service
Toll service

278.698

det.48,322

1904.
S
847.545
398,246
20,310
62,222

1,503,884 1,328,323

$

311.436

Balance

982,274
415.472
20.310
85.828

Toll

Total

..$2,976,971 $2,585,807 $2,170,920 $2,068,184
$1,679,461 $1,441,310 $1,309,121 $1,001,979

Total
Net earningsIII.Deduct

1905.
i

Eamings —

Total

1905.

Total

Telephone Co.

The developof last year will be in condition to earn the usual revenue.
ment tnus begun must continue over a long future term.
The shareholders on May 17 1905 decided to sell the property of the
company in Oklahoma to the Pioneer Telephone & Telegraph Co. (which
The property delivered consisted of 708.2 miles of toll line
see below).
and four exchanges, with 2,896 stations. The company received for
this property the exchange at Arkansas City and sundry small lines
and also the obhgation of the Pioneer Telephone & Telegraph Co. for the
stipulated cash payment the debt being secured by bonds of the Pioneer
Company (V. 82, p. 574).
Plant Statistics on Dec. 31
Increase.
1904.
1905.
32
57
89
No. of exchanges, incl. branch oCaces
19,421
...35,570
54.991
No. of stations
5,108
stations
7,427
12,535
No. of sub-Hcensee

{Report for Fiscal Year ending Dec. 31 1905.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 52.09% of the stock.
President James E. Caldwell says:
Forty-two newrexchangesiwere opened and equipped during the year.
The net gain in subscribers was 19,953, making the total at the close of
The directors, at their meeting In
business Dec. 31 1905, 141,266.
December, authorized an increased issue of the capital stock equal to
of the amount then outstanding, to be taken up and paid for during
25%
the year 1906. V. 81. p. 1726.

—V.

(Bell)

Miles of

Cumberland

'

Kansas

President C. S. Gleed, under date of Jan. 24 1906, says:
During the year 1905 the special efforts of the company have been diIt
rected to the reconstruction and expansion of its physical property.
will be still some months before all the new construction and acauisitiou

82, p. 672.

,

6.382.636 6.609.621

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 53.72% of the capital stock (V. 82, p. 699).

31.

Total

6,610,860:5,696,176

&

Missouri

1905.
1904.
1904.
1905.
LiabUUies—
S
$
i
$
6.444,400 4.354.150
5,672.187 4,666,151 Capital stock
... ...
SIO.UO 510110
468.935
421.585 Surplus
66,108
196.244 Reserve
60,657
Accounts receivable. 213.624
161.118 Bills and accoupts
28,364
Cash
payable
390.313
675,807
87.400
Stocks and bonds. . . 107,175
113.775
63.677 Unexpended malnt.
120.575
Miscellaneous
Revenue, balance...
91,606

Total

Total

6,382,636 5.509,621

{Report jor Fiscal Year ending_Dec. 31 1905.)

Construction
Real estate

—V.

31.

-V. 82. p. 612.

—

Assets

ttyt t.

1904.
1905.
1904.
LiabUUies—
$
t
t
%
Contracts & licenses. 601.352
3.909,900 3.906,200
6U1.352 Capital stock
Construction
268.347
6.021,872 4,361.298 Surplus
316.069
Supply department. '126,919
68,560 Uebt
2.140.1731 1,224.883
rtealestate
287,373 Reserve
5.568
378.316
3,276
Stocks and bonds...
10.000 fKeserve for dividend
58.649
63,920
58.693
Accounts receivable. 184,886
153.698
Cash
16.371
27.344

295,295
4,699
35,072
14,167

Earnings—

Miscellaneous

BALANCE BHEET DEC

t.

1905.

Aueu—

$
,148,116

of stations..-

[Vol.

Total....

8.071,244 7,323.561 6.692,865 6.024.610

.

June

1

.

1

.

.

THE CHRONICLE.

16 1906.]

1904.
1903.
1905.
1902.
$
$
$
S
1,103,821 1,115,900
1,145,819
941.614
.1.836,424 1,606,711 1,435,774 1,294.571
2,778.897 2,547,302 2,156.217 2,045,987
342,671
314,926
288,548
251,876
16.788
15,185
1,253
11,129
Private line and miscellaneous.
65,664
66,425
70,600
68,019
Messenger expense.
38,243
3,764
1,084
1,099
Real estate expense
222.184
222.615
208.348
241.545
Interest

—

Expenses
General and taxes
Operating
Maintenance
Rental and royalty

165.474

Balance, surplus

122.795

BALANCE SHEET DEC

118.138

60,043

31.

1905.
1904.
1906.
1904.
Liabilities—
S
$
Assets
$
$
.26.244.600 23.180.000
Prop. &franchl8e8.24,723. 116 23.430.320 Capital stock
1.762.877 l..')97.403
1,292.795 Surplus.Construction .
1,941.895
4.000,000 4.000.000
Supply departm't. 1,650.669 1,377.269 Bonded debt.
870,805 1,265.065
702,661 Accounts payable
Real estate
1.139.470
1,671,344 1,720,246
1,391,487 1,132.668 Reserve
Stocks & bonds
Accts. receivable. 3.288.842 3,455,777
371.425
614.168
Cash

—

.

1377

Merchants Association of
1905 (V. 81,

New York was

in the "Chronicle"
780), showing the company's
position as regards earnings and rates.
A recent advertisement gives the following:
of Sept. 2

p.

Telephones May 1st 1906
Gain for three years, 1903-1906
Gain for first four months, 1906
V. 82, p. 338.

256,962
..106,202
. 14.807

—

Pacific States Telephone r& Telegraph Co.

.6,447.122 5.880,319 6,277,725 4.855.841
1,624.122 1.443,242 1,415,140 1,168,769
...1,458,648 1,320.447 1.297.002 1,108,726

Total

Netrevenue
Dividends (6%)..

{Statement for Fiscal Year ending Dec. 31 1905.)

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 50.10% ($8,517,200) of the capital stock (V. 82, p.
No pamphlet report is issued, but the "Boston News
699.
Bureau" has published the following
1905 and 1904:

for the calendar years

1

.

Total

34.649,627 31.762,714

Total

—v.

34,649,627 31.762,714

82. p. 1104.

New York & New

Jersey (Bell) Telephone Go.
Year ending Dec. 31 1905.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 8.78% of this company's capital stock, which holding
with the amount owned by the subsidiary New York Telephone Co. gave it control.
The report, signed by President U. N. Bethell and Chairman Charles F. Cutler, under date of Feb. 15 1906, says:
General Results. The company has been very successful during the
year in increasing the number of its subscribers, but owing to the reduct
{Re-port for Fiscal

—

tions In rates the earnings have not been so large relatively as heretofore.
The total gain stations was 31 ,725, being nearly 40%
New Stock. It is felt by your management that future growth will be
very rapid and that large capital outlays will be necessary to provide required lacilities. On Oct. 25 1905 the authorized capital stock was increased from $15,000,000 to $50,000,000 and on Oct. 27 1905 the directors authorized the offer to stockholders of $3,442,525 of new stock
This new stock was fully subscribed for and its issuance brings
at par.
the registered stock up to 817,360,000. of which amount $148,600 is held
In the treasury.
Extensions, &c. The expenditures for extension of plant and real
estate during the year aggregated $3,027,349, viz.: Real estate, $463,768;

m

—

—

equipment. $849,491; telephone Unes, $1,714,090.
Earnings, Expenses and Charges.
1904.
1905.
1903
Z112.049
66.564
80,324
No. of stations Dec. 31
$
Earnings
$
$

—

Exchange

Pay

2,961,700
836,231
2,117,188
207.896
94,273

Real estate.
Otheriincome.
Total
Expenses
General
Operating
Reconstruct 'n&maint.
Royalties & rentals..
Real estate expenses.

—

2,262,289
596,031
1,656,943
132,803
93,277

1,903,707
490,294
1,365,854
113,415
89,327

5,393.709

4.741,344

3,962.597

1,097,863
1,070,066
1,977.087
289.137
141,702

Tolls

2,601,024
703.017
1,820,280
161.068
108,320

6,217,288

service
stations.

844,576
923,412

761,541
761,331
1,446,050
219,950
81.124

646,240
594.730
1.330,172
181,616
70.699

1

,601 ,793

250,681
108,873

Totalrevenue
Oper expenses
.

incl

,

.

1905.
$7,687,523
5 ,927 ,054

maint and interest
.

4,575,845
1,641,443

3,729,335
1,664,374

3,269,996
1.471.348

2,823,457
1.139,140

Taxes
Dividend (7%)

62,618
132.810
1,034,149

66,422
121,000
962,088

68,282
112,932
852,215

70,350
96,000
707,628

Total
Surplus

1,229,577
411,866

1.149,510
514,864

1,033,429
437.919

873,978
265,162

Total

Deduct

—

82, p. 1104,-574,

164.

Pennsylvania

(Bell)

Telephone Co., Harrisburg, Pa.

{Report for Fiscal Year ending Dec. 31 1905.)

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 61.88% of the capital stock.

R

Pres. A.
Shellenberger, under date Jan. 31 1906, says:
There was a net increase of 6,080 in the number of stations . viz.
SubPrivate
SubTotal
Dec. 31

Line.

scribers.

Licensee.

I Of the total stations (112,049) on Jan.
Jersey and 56,610 on Long Island.

1

1906, 55,439 were In

New

—

—

—

Total

$1,093,970 $958,486

Total

$845,395 $742,397
$248 ,575 $21 6,09©
179,569 160,609

DECEMBER

—

—

J

Total

24,185.449 19,880,9781

Total

...24,185,449 19,880.978

—V. 82, p. 456,338.

New York &

Pennsylvania

(Bell)

Telephone

& Telegraph Co.

{Report for Fiscal Year ending Dec. 31 1905.)

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 50.07% of the capital stock.
The pamphlet report has not come to hand but press reports give the following:
During 1905 the company increased

its stations from 22,476 to 27,564,
a'gain of 5,088, or 22% during the year.
Expenditures for maintenance
were $140,000, or 24% of gross. "Income per station a little less
,

than

$69,006

Total

-V.

82.

$4,403,483 $3,971,491

p

Pioneer (Bell) Telephone

Gross revenue
Operating expenses

452,956

$98,377
90,470

$13,248

Interest

$523,576
425,199

$115,525
102,277

Net earnings

$7,907

Balance
82, p. 695.

^

(Bell)

^,-.

&

May

1

1906.)

The American Telephone & Telegraph Co. on Jan.
owned 64.43% ($32,215,700) of the $50,000,000

over in those territories the business of the Missouri & Kansas Telephone
Co.
(See that company above and compare V. 82, p. 574.) The capital
stock was increased from $843,600 to $878,100.
Total number of subscribers increased from 7,862 to 14,159 from Dec. 31 1904 to Dec. 31 1905.
The miles of wire in use increased from 7,162 to 16,663. Bills payable
increased from $142,985 to $1,029,899.
Gross.
Expenses.
Net.
Dividends. Bal.,Sur.
1905 (year) ..$486,963
$387,754
$99,209
$51,486
$47,723
1904 (10 mos.) 215,627
162,617
63.010
43.308
19.702
V. 82. p. 696, 574.

—

the Western Union Telegraph Co. on July
$9,733,100 of the stock. The reportlmade

Results for Calendar Years 1902-1905.
1905.
1904.
1903.

No. of exchanges
No. of subscribers

118
32,217
6,386
19,393
$2,303,800

106
24,757
6,176
17,348
$2,264,800

18,995
5,652
15,978
$2,258,400

$1,043,410
871,649

$863,144
648,101

Dividends paid

6%

capital

Total expenses

$1,221,774
1,003,042

1

1905

Co.

""^

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 51.04% of the capital stock.

Gro.ss receipts.

by the

Bell Telephone

{Report for Fiscal Year ending Dec. 31 1905.)

1906

1

Telegraph Co,, Oklahoma, Etc>

The American Telephone & Telegraph Co. on Dec. 31
1905 owned 5,062 shares (57.62%) of the capital stock.
No printed report has come to hand, but the following
data are obtained chiefly from the "Boston Financial News":
The company was organized in February 1904 and absorbed several
ndependent systems in Oklahoma and the Indian Territory and took

Miles toll pole lines
Miles toll line wire
Issued .stock--

Telephone Oompany.

{Official Statement

owned

1904.

$4,403,483 $3,971,491

{Report for Fiscal Year ending Dec. 31 1905).

Rocky Mountain
1905.
$568, 48

Total

338.

"

New York

$55,481

31.

LiaHlUles—
1904.
1905.
1904.
Plant
$3,708,123 $3,428,441 Capital stock
$3,246,260 $2,761,500
Supplies on hand.
180.709
107,311 Surplus
316.330
247.324
Furniture, flxt., etc.
29,646
25,933 Bonded debt
623.000
650.600.
Real estate
233,546
196.834 Reserves
77.680
44,237
Sinking fund
150.797
140.227 Real estate mtges.
9.400
4,400
Accts. receivable..
74,637
60.896 Bills and accounts
•Stocks and bonds.
2,035
payable
130.823
263.530:
Cas
24,089
11.848

Results for Calendar Year.

stock;

BALANCE SHEET DEC.

»
1905.

Resources —

$21.''

b -I/;,

—V

Dividends paid (6%)

•

•(
BALANCE SHEET
31.
1904
1905. 1 I
1904.
11905.
Liabilities
$
S
$1
$
14 ,028,989 12.314.898 Capital stock
Plant
17,360,000 13 ,917,600
Equipment
3 ,374,543
2.626.052 Gen. mtge. bonds. 1,260,000 I .268.000
Real estate
2 ,205,774
1,742,006 Real estate mtge..
67,600
602.943 Vouchers and acMater. & supplies.
773.134
988.436
counts
Acc'ts recelvaDle.
805.429
596.614
365,545
Reserves
632.700
Stock subscrlpt'nfl
666.511
332,118
Stocks and bonds.
445.641
344.254
445.641 Dlv. payable Jan. 1
414,495
Treasury stock
148,600
147.500 Surplus
3,997.828 3 ,585.962
Cash & deposits... .587.633 1,297.508
Assets

Number

1905
34,298
959
2,586
37,843
1904
29,726
780
1,257
31.763
Total additions to plant, equipment and property during the year.
$316,394. The requirements of the sinking fund, amounting for the
year to $32,304, were satisfied from the current revenue; the bonded
debt was reduced $27,500.
Automatic exchanges that is. exchanges at which no operators are
required were installed in eleven towns too small to justify the installation of manual exchanges, which require the use of operators. The use
of automatic exchange apparatus is to some extent experimental.
New treasury stock to the amount of $484,750 was sold during the
year and the proceeds applied to the extension and improvement of the
company's plant and business. (Compare V. 82, p. 338.)
Results for Calendar Years.
Revenue
1905.
1904.
Expenses
1 905
1 904
Exchange service$786, 082 $700,580 General..
$153,200 $134,413
ToU service
250,380 219,197 Operating
236,042 195,844
Privateline
4,816
5,042 Maintenance
358,120 324.965
Real estate
15,835
14,657 Instrument rent.
45,602
40,950
Miscellaneous ..
36,857
19,010 Miscellaneous ..
14,818
9,090
Interest...
37,613
37,134

Surplus

Interest

,

$1,760,469 $1,689,021
In 1903 the net revenue was $1 ,538,439; for 1902, $1 ,385,558.
The company had on Dec. 31 1905 a total of 242,088 subscribers. Expenditures for maintenance during the year amounted to $2,450,000.
The company has no bonded debt, but has assumed the bonded obligations of one of its sub-companies amounting to $3,000,000.
(Compare
V. 80, p. 2397.)
Prior to the earthquake quarterly dividends were paid at the rate of
7% per annum, the rate having been increased from 6% to 7% in 1904.
See American Telephone & Telegraph Co. above and compare V.

Net revenue

Net earnings

1904.
$6,824,506
5 135 ,485

Netrevenue

—

1902.

.

Netrevenue

96

6%

1902.
75
13.711
4,915
13,487
$2,200,000

6%

$707,073
515,254

$218,732
$171,761
$191,819
—See American Telephone & Telegraph Co, and V.$215,043 574.
82, p. 396,

THE CHRONICLE.

137H
New England

Southern

Asaeu

'.s

.says:

.

—

EARNINGS, EXPENSES AND DIVIDENDS.
1904.

190.5.

Exch'ge

classes (No.).
41,829
service earnings- -$1,135,859

375,243
6,393
16,115

Tollservice

Realestate
P. L. & misc. service
Total earnings
General expenses

1902.

1903.
26.619

21,110
$680,010
222,819

$807,6.58

267,249
6,549
16,833

6,421
10,306

-$1,563,611 $1,287,591 $1,098,289
$240,171
$183,401
8150,362
236,488
312,592
268,601
574.169
481, .599
396,509
54,352
46,139
64,930
48,820
54,786
65,506
15,429
4,789
2,223

Operating
Maintenance
Rental and royaltyInterest

33,208
$963,239
304,526
6,504
13,322

all

-.

Miscellaneous

Totalexpenses

.$919,5.56

$133,2,56

213.972
297,882
46,182
52,869
2,651

.$897,226
$1,256,111 $1,047,529
$746,812
$277,500
$201,063
$240,062
$172,744
277,500 (6)240,000 (6)187,050 (6)172.501

Netrevenue
Dividends paid
Carried to surplus

$62

BALANCE SHEET DEC

$243

$14,013

31.

1905.
1904.
1905.
1904
S
%
Liabililies
S
$
113,124
122,500 Capital stock
5,000,000 4.500,000
5,370,946 4,685.666 Surplus
82,809
82,809
Supply department- 335,829
226,324 Bonded debt
790,500
790,500
Realestate
390.993
5,181
29,266
335,004 Reserves
Stocks and bonds
64,950
10.400 Bills and accounts
Accts receivable
payable
143,297
149,828
581,659
232,297
Cash
41,011
105,149

—

J\.SS€t'i

Franchise
Construction

Total

Total

6,460,149 5,634,872

6,460,149 5,634,872

p. 937.

Western

(Bell)

Telephone

&

Telegraph Company.

I

common stock. See V. 82, p. 699.
President Frederick P. Fish says in substance:
Stations.
The number of exchanges operated by the four controlled
companies (V. 82, p. 699) at the end of 1905 was 352; stations connected
therewith, 180, 430; increase, 30,999. To this numberare to be added
of its

—

67,114 stations of subsidiary companies in which the four controlled
companies hold a controlling interest, and of companies which lease our
telephones and operate under contract in small towns and rural districts,
in connection with our companies, making a total of 247,544 stations, as
compared with 200,890 at the close of the previous year.
Construction.
The mileage of exchange wire owned and operated by
these companies at the end of 1905 was 424,128 miles, an increase of
118,951 miles; mileage of toll line wire, 110,737 miles, an increase of

—

acquired, $236,401.
Financing. The development of the past four years has certainly
been on sound lines. Since the organization of this company in January
1902 it has furnished the operating companies, by purchases of stock and
by loans, funds for the development of their business to the amount of
about $10,000,000. The money thus advanced has yielded a fair return.
Plans for providing funds to take care of the floating debt and to carry
forward the important work yet to be completed are now under con-

To tal
o Of

sideration.

OPERATING COMPANIES.— CLEVELAND, NORTHWESTERN,
SOUTHWESTERN AND WISCONSIN COMPANIES.
1905.

1904.

180,430

Exch

.service$4,425,633
Tollservice.- 2,139,228

Messenger
Realestate..

91,416
163,034
43,419
156,427

Divs. & IntMiscellaneous

Total

Calendar Years.

Expenses —

1905.
General, incl.
taxes
149,431
$989,784
$3,954,207 Oper.& Main. 3,564,813
1,867,393 Instrum.rent.
302,588
107,368 Messenger
92,195
Real estate ^141,999
101,984
25,478 Interest
419,759
156,440 Miscellaneous
22,287
I

$7,019,157 $6,252,885| Total

Net revenue

(BELL)

1904.

$816,243
3,199,907
267,454
104,172
84,444
498,694
18,571

$5,493,410 $4,989,485
$1 ,525,747 $1 ,263 ,400
1,251,1 66
1 ,066 ,884

Dividends paid from earnings of year

WESTERN

TELEPHONE & TELEGRAPH CO.

46,428,811 42,652.2051

this

amount $400,000

—

1905-06.

Miscellaneous

1904-05.

1903-04.

1902-03.

$431,523
1,028,324
4,995

$529,971
873,894
4,350

$475,179
763,043

$453,623
850,587

Total receipts..
& taxes _.
General expenses.
Depreciation
Divs. on preferred.

$1,464,842
543,168
34,248

$1,408,215
504,904
28,219

Balance, surplus

$87,426

Interest

Dividends

Interest

(5)800,000 (5%)800,000

$75,091

$1,238,222
$1,304,210
505,350
519.344
25,510
24,538
7,730
86,479
(4)640,000 (4%)640,000

$59,632

Is

for the

Total

$33,849

421.788

46,428.811 42.652.235

dividend payable Feb.

1

1906.

—V. 82, p. 702

tions Feb. 1 1904, .55,606; number of e.xchanges Dec. 31 1904, 66,342'
of exchange stations Dec. 31 1905, 77,047.
Including sub
license subscribers and those connected with rural exchanges, there were

number

connected with the .system on Dec. 31 1905 94,621 subscribers' stations.
During the eleven months ending Dec. 31 1904 2,149 miles of wire were
added to the toll line plant and 1,046 miles of wire were added in 1905.
On Dec. 31 1905 there weie 32,308}^ miles of wire in the toll system.
The maximum capacity of the i)lant in Detroit is 20,000 exchange stations and the growth in subscribers' stations is so rapid as to already tax
the facilities. The directors have authorized the immediate construction
of a large addition to the central office building and the construction of
two branch exchanges, the general plans including an enlargement of
switchboard faciUties and underground conduit and cable facilities, based
upon an ultimate growth to 60,000 exchanges in Detroit and its immediate
suburbs.
In 1905 $625,989 was expended for maintenance and charged to expenses. The company has continued its policy of improving its equipment and giving the best possible service at reasonable rates. As a result the position of the company has been greatly strengthened and the
business has largely increased
It is expected that the growth of the company's business in 1906 will largely exceed that of anj- previous year and
the outlook is very favorable.
.

RESULTS OF OPERATIONS.
Numberof

Year
11 months
Year
ending
ending
ending
Dec. 31 '05. Dec. 31 04. Apr. 30 '05.
77,047
66,342

stations Dec. 31
Earnings
$
Gross earnings
...-- -2,293,552
Oper. expenses, incl. taxes, maintenance and rentals
1,620,224

—

Special exp., incl.

bond discount-.

Int. on bonds and floating debt
Organization expense
Divs. on $2,285,000 6% pf. stock.

$

1,839,704

1,493,656

498,403

596,045

207,904
32,168
125,675

137,100

2,089,701

1,341,301

673,328
15,398
261,371

23"4",883

V37a6o

Balance, surplus
259,459
132,657
224,061
The total net surplus Dec. 31 1904 was $132,657, making total surplus
Dec. 31 1905 $392,116. from which was made net deduction in final adjustment of accounts taken over by the company from the receiver of the
Michigan Telephone Co. of $69,364, leaving net surplus Dee. 31 1905 of
$322,752.
Officers.
W. A. Jackson, President; Dudley E. Waters and Isaac
Sprague, Vice-Presidents; Walter I. Mizner, Secretary; John T, Shaw,
Treasurer; E. G. Stevenson, Attorney.
Executive Committee: W. C.
McMillan, F. J. Hecker, Dudley E. Waters, A. B. Forbes, EUwood T.
Hance, Isaac Sprague, A. W. Harris and John T. Shaw. V. 82, p. 110 4

—

—

GENERAL INVESTMENT NEWS.
RAILROADS, INCLUDING STREET ROADS.

—

Altoona & Philipsburg Connecting RR. Sale July 11.
This property is advertised to be sold under foreclosure of
mortgage dated June 1 1893 (Union Trust Co. of Philadelphia, trustee) at the public salesroom of the Philadelphia
Bourse on July 11. The amount due on the mortgage is
$106,126 and the amount to be paid for services of attorneys

and tru.stee, $5..500.— V. 78, p. 1548.
American Railways. Listed in Philadelphia. The Philadelphia Stock Exchange has listed this company's $1,492,000
Scranton Railway Co. preferred stock gold 5% trust certifi(Compare V. 81, p. 1847.)— V. 82,
cates for $1,000 each.

—

p.

1322, 333, 279, 159.

—

—

—

Berkshire Street Ry. Consolidation. The Massachusetts
Railroad Commission has authorized this company to consolidate with the Hoosac Valley Street Railway and to issue
$400,000 additional capital stock in exchange, share for
share, for the capital stock of the Hoosac Valley, making the
total outstanding stock $1, 400,000. —V. 82, p. 691.
Boston & Maine RR. New Stock. The Massachusetts
Railroad Commission has authorized the company to issue
42,037 additional shares of common stock, the proceeds to be
used for the purchase of new equipment and other improvements. The price at which the new stock is to be issued was
Compare V. 81,
fixed by the Commission at $165 a share.
p. 899. 974.— V. 82, p. 927, 567.
Calumet Electric Street Ry. Change in Control. No objection having been raised to the sale of this company by the
receiver of the National Bank of Illinois within the time fixed

—

Earnings and Expenses for Years ending Jan. 31.

Earnings

143,000
63.364

Michigan State Telephone Company.
{Report for Fiscal Year ending Dec. 31 1905.)
This company is a licensee of the American Telephone &
Telegraph Co., but its stock is not controlled by that co.
The report, signed by N. W. Harris, Chairman of Board
of Directors, says, under date of April 30 1906:
Four quarterly dividends at the rate of 6% per annum have been paid
on the preferred stock during the year. As heretofore the surplus earnings have been expended for additions and betterments, and, together with
the proceeds of bonds sold, have provided for all construction expenditures, including the payment of the floating debt of Dec. 31 1905.
The
total bonded debt at the i)resent time is $5,909,000.
During 1905 $908,719 was expended for exchange and toll line construction and real estate,
which makes a total expenditure for construction purposes since Feb. 11904, as of which date your company was organized, of $1,926,449.
As a
result a net gain of 21,441 has been made in the number of subscribers,
stations connected with our exchanges, viz.: Number of exchange sta

—

Total stations
Dec. 31.--

167,063
9,857,000

1

14,423 miles.
The expenditure for new construction during the year
was $4,564,308, viz.: exchange construction, $3,093,258; toll Une construction, $896,811; real estate and buildings, $337,838; other property

for

1905.

LiabUlHes—
S
S
Comnaon Block ...16,000,000 16.000,000
Preferred stock... 16,000. 000 16.000.000

1

Netearnings

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 76.17% of this company's preferred stock and 57.15%

Earnings and Expenses

1906.

I

notes
acquired
at orKaulzation.36 ,380,551 36,380,551 Surplus
254.479
Property olnce ac(Bonds
9,857,000
quired
-3 ,788,464
1,567,614) Res. for retlr. bds.
Biils and accounts
of ErleT.&T.Co.
143,000
receivable
3,834,5351 Reserves
5 ,078,290
48,491
Supplies
76.820
47.953 Biils and accounts
OrKanizatloD exp.
payable
54,0061
54,006
04,125.841
Cash & deposits..
451.676
767,5471

{Report for Fiscal Year ending Jan. 31 1906.)

Revenue —

31.

I

I

1

—V. 82.

1905.
I

%

I

—

General Results.
Our total of .stations on Dec. 31 was 41,829, which
We have added, 96 miles to our underis an increase of 8,621 or 26 'fr
ground duct capacity. Our total wire mileage is now 94,732 miles, of
which about one-eighth is toll lines.
The average rental has been reduced from $32 20 to $30 27. Our tollline receipts, however, bring up our total receipts per station so that we
received $40 87 as an average for each station, as against $43 04 in 1904.
Our expenses, however, per station have not been correspondingly reduced, expenses per station being $33 23 as against $33 72 in 1904. Our
toll revenue from messages on our own lines has increased 23% as against
15% in the year preceding.
Rates.
At the close of the year 1905 out of our 51 exchanges there were
33 aggregating a total of 9,013 stations in which service is furnished to
subscribers at any point in the exchange districts for $18 per year for
re.sidence and $24 per year for business stations.
The rate reductions
which went info effect on Jan. 1 1906 amount to about $48,000.
The
reductions put into force during the year since July 1 amounted to about
$44,000. This reduction, however, has increased 'the number of stations
so that the annual rentals on Jan. 1 1906 were only a little less than the
annual income on the first of the preceding month. But we do not know
how much the expenses of the company may be increased by these additional subscribers.

Stations,

1906.

—
boDdH and

.Stocks,

The American Telephone & Telegraph Co. on Dec. 31 1905
owned 33.18% of thi.s company capital stock (V. 82, p. 699).
,

BALANCE SHEET JANUARY

Telephone Go. (Connecticut).

(Bell)

{Report for Fiscal Year ending Dec. 31 1905.)

President Morris F. Tyler

[Vol. lxxxu.

—

—

—

—
June

—

THE CHRONICLE.

16 1906.]

court, possession of the property passes to the syndiSee V. 82, p. 1210.
cate headed by Cobe & McKinnon.

by the

—

—

1379

business around the City of Wilkes-Barre, through which city its railway
business is now operated only upon tracks of the Lehigh Valley RR. Co.,
the estimated cost of which additional construction is $2,000,000. V.
82, p. 1101, 751.

—

Chesapeake & Ohio Ry. Car Trusts Offered. Blair & Co.,
Detroit & Mackinac Ry. Listed. The New York". Stock
New York, are offering, at prices to yield the investor 4.4%,
the unsold portion of an issue of $1,600,000 4% equipment Exchange has listed $950,000 non-cumulative 5% preferred
trust certificates, "Series H." issued by the Fidelity Trust stock and $2,000,000 common stock.— V. 82, p. 986.
Co. of Philadelphia, as trustee; dated April 2 1906, denomiDetroit Toledo & Ironton Ry.
Not to Be Sold Proposed
nation $1,000 each; payable in 20 semi-annual instalments Connection with Coal Fields Shortly to Be Built by Friendly
beginning Oct. 1 1906, ending April 1 1916. Interests. The "Toledo Blade" of June 9 quotes President
of $80,000 each,
This issue covers 35
Interest payable Oct. 1 and April 1.
Eugene Zimmerman as denying the recently current rumor
new consolidation freight locomotives and 995 all-steel of an impending sale of the Northern Coal & Coke Co. properhopper-bottom gondola cars of 100,000 lbs. capacity. These ties and the Detroit Toledo & Ironton and Anne Arbor
certificates are endorsed as follows:
roads and as declaring emphatically that it is the intention
Chesapeake & Ohio Railway Co. for valuable consideration hereby of the present owners to keep the railroad and coal properties
guarantees the prompt payment at maturity of the within certificate and
V. and develop them to their limit.
of the dividends thereon, according to the terms of said certificate.
President Zimmerman is further quoted as follows:
82, p. 1322. 750.
The Northern Coal & Coke Co. owns 350,000 acres of the finest coal
Railway. Listed. The New York
Chicago Great Western
land in the country. The coal veins range from five to nine feet in
Stock Exchange has authorized the li.sting of $14,000,000 thickness, and a large portion of the land is covered with valuable
additional preferred stock "B" from time to time on notifi- virgin forest. The new railroad which will connect the Detroit Toledo
& Ironton with the properties of the Northern Coal & Coke Co. will be
cation that it has been exchanged for the preferred stock of built
The surveys, location and estimates will
as soon aslpossible.
the Mason City & Fort Dodge RR., making the total amount be completed this month. The road will be 100 miles long. Both the

—

—

—

—

—

—

—

—

authorized to be listed to date $23,489,100.
"The Mason City & Fort Dodge RR. Co. has extended its lines to
Omaha, Neb., and purchased the lines of the Mason City & Fort Dodge

coal lands

Railway Co., and has increased its capital stock to $34,000,000, of which
$14,000,000 is preferred stock and $20,000,000 is common stock. All of
the outstanding common stock, amounting to $19,205,400, is owned by
the Chicago Great Western Ry. Co., which is under contract obligation
to purchase on June 1 1906 the $14,000,000 of preferred stock of the
Mason City & Fort Dodge RR. Co., issued on account of its extensions,
additions and purcha.ses, and give in exchange therefor $14,000,000 of
its preferred stock B."

and the proposed

&

— V. 81,
Cleveland Painesville & Ashtabula (Electric) RR. — Change
— The Cleveland Painesville &
in Control — Netv
Compare Mason City & Fort Dodge RR. below.

p.

1436.

Officers.

Eastern, having acquired control through the purchase of
over $600,000 of the $1 ,000,000 capital stock, took pos.session
on June 4 and elected its own officers and directors as officers
and directors of the C. P. & A. W. J. Hayes, of W. J.
Hayes & Co., remains on the board. The price paid for the
majority interest is stated as $20 a share, and the purchasers
are reported as ready to buy the minority shares at the same
The stock purchased has been deposited with the
price.
Cleveland Trust Co. under an agreement. A portion of the
purchase price remains to be paid in instalments. V. 82,
p. 1322.
Cleveland Painesville & Eastern RR. Purchase. See
Cleveland Painesville & Ashtabula Traction Co. above.
V. 82, p. 1322.
Cleveland Youngstown & Eastern Ry. Reorganized Company. This company is to be successor of the Eastern Ohio
Traction Co. per plan in V. 80, p. 2621; V. 81, p. 155.
Under the original plan the Eastern Ohio stockholders were
to pay an assessment of $38 87 a share, but this has been
reduced to $32 00 a share, some 90% of the stockholders,
An extension is
it is said, agreeing to make the payment.
proposed from Chagrin Falls to Garrettsville, where a connection will be made with the Mahoning & Shenango Railway
& Light Co., the two lines together forming a through route
from Cleveland to Youngstown. The incorporators of the
C. Y. & E. Ry. Co. (incorporated in Ohio on June 1) are
Alonzo M. Snyder, H. Park Ford, A. A. McCaslin, H. Melvin
Roberts and Elmer G. Derr.
On May 1 1906 this road was
Coahuila Coal Ry. Lease.
taken over under lease by the Mexican International RR.,
which is controlled by the National RR. of Mexico. Compare V. 82, p. 868.
Columbus & Southern Ry. New President. On May 9
1906 Fred. C. Rector was elected President and General
Manager, with office at Columbus, O., succeeding J. G.
Reeves.— V. 75, p. 239.
Delaware & Hudson Co. Listing Trolley Acquisitions.
The New York Stock Exchange has authorized the listing
from time to time, as issued, prior to Jan. 1 1907, of the
$14,000,000 convertible 4% ten-year debenture bonds desThe official statement to the
scribed in V. 82, p. 217, 452.
New York Stock Exchange says that the proceeds of the
issue are to be applied to the following purposes:
The company has ordered additional equipment to cost at least $2,-

—

—

—

—

—

—

—

—

—

—

—

—

It
250,000, a considerable portion of which has already been delivered.
has also acquired and holds in its treasury 49,909 shares of the capital
of the United Traction Co. of Albany, being all of the same except
stock
91 shares not yet purchased, the said shares having been acquired at a
The funded debt of the United Traction Co. outcost of $150 per share.
standing June 30 1905 was $5,141 ,000.
The company has ahso acquired one-half of the capital stock of the
Schenectady Haihvay Co. (the other half having been acquired by the
New York Central & Hudson River RR. Co.) and has advanced a con.siderable amount toward the payment of one-half of the floatiuK debt of
Its total exjienditures in that behalf exceed
the Schenectady Rv. Co.
The financial arrangements for the cai)itaIization of the
$1,600,000.
Schenectady Hallway Co. are not yet finally completed, but this comnany
already holds 3 ,000 .shares of the capital stock of the Schenectady Railway
Co., being one-half of all its capital stock yet issued, and it is to receive
for its advances one-half of all .shares of such stock hereafter issued. This
company is also coMstrurlinK upon its own right of way an additional
tracK from Hiillsloii to Saratoga, to be operated by electricity, in connection with the SclicMcciaily Railway Co., the estimated cost of which exThe outstanding finided debt of the Schenectady
ten.sion is .$500,000.
Ry. Co. on Jan. 1 1906 con.sisted of $2,000,000 first mortgage 4"^%
bonds, due Sept. 1 1941 and $1 ,000,000 con.soUdated mortgage 4Mj% 50year gold bonds due May 1 19.53.
This company has al.so begun the construction of additional tracks of
its railways in Pennsylvania from Avoca to South Wilke.s-Barre, a distance of about 14 to 16 miles, to serve as a cut-off for freight and coal
,

railroad are wholly within the State of

Kentucky.
railroad is not being built by the Detroit Toledo
Ironton RR. Co., but is backed by some of those interested
Conin the D. T. & I. and the Northern Coal & Coke Co.
trol of the Kentucky & Ohio Bridge has been sold to J. P.
Morgan & Co., who, it is expected, will eventually transfer
& Dayton, but the right to
it to the Cincinnati Hamilton
use the bridge, when built, is reserved to the Detroit
Toledo & Ironton interests. (Compare V. 81, p. 1610.)
Listed.
The New York Stock Exchange has listed $214,000 additional Detroit Southern Ry. Co., Ohio Southern
Division, first mortgage 4% bonds, making the total amount
The additional bonds were issued
listed to date $4,495,000.
to retire car trusts.— V. 82, p. 509, 99.

The new

—

—

Eastern Ohio Traction Co.— Successor Company. See
V. 82, p. 1101.
Cleveland Youngstown & Eastern Ry. below.
East St. Louis & Suburban Co. Consolidation Completed,
This company, incorporated in New Jersey in 1902,
recently absorbed by consolidation (per plan in V. 82, p.
751) the Alton Granite & St. Louis Company and thus acquired the entire capital stock of the Alton Granite & St.
Louis Traction Co. and the Alton Gas & Electric Co., and
so owns and operates the interurban line between East
St. Louis and Alton, 111., running to Venice, Madison and
The company also owns all of the stock of
Granite City.
the East St. Louis Ry., the St. Louis & East St. Louis
Electric Ry., and the East St. Louis & Suburban Ry., the
entire system embracing 170 miles of track, including all
the lines in East St. Louis, a double-track road from East
St. Louis to Belleville, a single track line to O'Fallon and
Lebanon and the aforesaid double-track line to Alton,
The
together with gas and electric illuminating properties.
company has outstanding $14,000,000 capital stock in shares
of $100 each, of which $7,000,000 is 5% preferred, with preference both as to dividends and principal, the dividends being
cumulative from May 1906; a first quarterly distribution
For the underlying
is expected in August 1906.
of
bonds, see pages 6 and 36 of "Street Railway Section."
V. 82, p. 751, 392.

—

—

—

1^%

Philadelphia.

listed

this

—

&

Western North Carolina' RR. Listed
Philadelphia Stock Exchange has
company's $500,000 first mortgage 5% gold

East Tennessee
in

— The

bonds.— V. 82, p. 333.
The manageErie RR. Electricity on Rochester Division.
ment has authorized the immediate electrification of about

—

—

35 miles of the line between Rochester and Mt. Morris, N. Y.,
in accordance with the plan to electrify the Rochester division.
The directors in March last authorized surveys and estimates for the
electrification of the Rochester division from Rochester to Corning, N. Y.,
including the Bath & Hammondsport, the branch to Conesus Lake and
the Mount Morris branch, from Avon to Mount Morris, with an extension
This makes a total of 150 miles of line to be
to be decided upon later.
electrified.— V. 82, p. 1322, 1268.
Princeton Traction Co. New Trustee.
Evansville

—

—

&

George B. Denison, of Dcni.son & Farnsworth, has been
appointed trustee of the mortgage to succeed the late L. W.
Prior.— V. 80, p. 2621.
Kansas City Southern Railway Co. Mr. Loree a Director
and Chairman of E.rccutivc Committee. Hermann Sielcken
has been elected to the new office of chairman of the board,
and L. F. Loree, formerly President of the Baltimore &
Ohio RR. Co. and the Rock Island Co., hius been made a
V. 82,
director and Chairman of the executive committee.

—
—

—

p. 1102, 692.

—

Kentucky &. Ohio Bridge Co. See Detroit Toledo «fe IronV. 81, p. 1492.
ton Ry. above.
Lehigh Valley RR.— /.i.s/crf.— The New York StockfExchange has listed $1,900,000 additional general con.solidated
bonds, making tlie total listed to date $22,mortgage
The additional bonds were .sold to provide for
000,000.
"the payment of annual instalments due on certain of the
company car trusts, and on its Connell, Seneca and Righter
any's
stock purchase bonds, and including advances on its Warrior
Run stock purcha,se bonds (of which the total issue wjis
$800,000, and which are similar .securities to the said Connell,
Seneca and Righter stock purchase bonds)."

—

4%

THE CHRONICLE.

1380
Application of $20,100,000 General Consolidated

4%

Bonds.

For capital advances heretofore made to pay annual instalments on car trusts Series "A" to "G," both Inclusive, and
on Coniu'll. Seneca and Kilmer stock purchase l)onds
$2,664,000
To redeem $9,568,000 mortgage and collateral trust 5% gold
bonds at 107 Hi
10,286,000
To n>deein $2,000,000 5% 5-10-year gold coal pledge bonds of
'

Valley Coal Co. at

Lehit;!!

102H-

4.52.

p.

--- 2,050,000

--

-

To redeem
— V. 82, $5,000,000 National Storage
1157,

6,100,000

trust certificates

—

—

Lexington & Interurban Railways. Listed in PhiladelThe Philadelphia Stock Exchange has listed this
company's $2,000,000 capital stock, par value of shares $50,

phia.

dends have been paid annually, the

5%

—

Compare V. 81, p. 1723.
Lime Rock RR. See Rockland-Rockport Lime

in

December
84 to 91.

"Industrials" below.

—

&

—

—

—

—

1906.

—

'93.

"94.

'95 to "00.

'01.

4

4

None.

3

3

'03

'04.

4

02.

5

1905
6

Lease.
The stockholders on June 5 formally approved the
lease of the Pittsburgh Youngstown & Ashtabula RR.
V. 82, p. n.-)7, 11.53.

— Extension

Pennsylvania RR.
Island.

— See

to

New York and Long

descriptive article,' with illustrations, &c., in
Gazette" of May 25, "Railway Age", of April 6

"Railroad
and "Engineering News" of May 31.
Increase in Dividends of Sub-Companies.
See Pennsylvania Company above and Pittsburgh Cincinnati Chicago &
St. Louis Ry. below.— V. 82, p. 1269, 1213.
Pittsburgh Cincinnati Chicago & St. Louis Ry. Preferred
Dividend Increased. The directors on Wednesday declared
a semi-annual dividend of 2 3^% on the preferred .stock,
payable July 16. This is an increase of V^ of 1
over the last
payment and places the stock on a 5% basis. jThe directors
also declared the usual semi-annual dividend of 1J^% on the
common stock payable Aug. 15.

—

—

—

%

202

to

1906.

3444444
13

'92-'93. '94. '95. '96. 'QT-'gS. '99.

Preferred, per cent... 4 y'rly.

Common,

Manchester (N. H.) Traction, Light
Power Co. Purchase.
This company, it is announced, has acquired the
capital stock of the Goff 's Falls Litchfield & Hudson Street
Ry., a 12J/^-mile road now under construction from Goff's
Falls to a connection with the Manchester system.
V. 78,
p. 2442.

to

'92.

Annual Dividend Record Prior

Co. under

disbursement being

4

full paid.

—

last

190.5.

Annual Dividend Record Prior
83.
Per cent 4

—

Lehigh Valley Transit Co. New Securities Ready. The
reorganization committee of the Lehigh Valh^y Traction Co.
and its constituent companies gives notice by advertisement
on another page that the depositaries, viz., (Jirard Trust
Co., Philadelphia, and Lehigh Valley Trust & Safe Deposit
Co., Allentown, Pa., are prepared to deliver securities of the
Lehigh Valley Transit Company as provided under the terms
of the plan of reorganization (V. 79, p. 733), in exchange
for certificates of deposit duly endorsed.
See further
particulars in aforesaid advertisement and compare V. 82,
p. 628, 1102.

PTOL. LXXXII.

00. '01. '02. "03. '04. 1905

per cent...
None till Aug, 1901
3
3
3
The company is controlled by the Pennsylvania Company, which on Jan. 1 1906
owned $22,470,700 preferred and $14,587,500 common stock. The preferred stock
Is "non-cumulative and entitled to a dividend of 4% per annum out of the net
earnings as declared by the board, with the right after 3% has been declared on the
common to an additional 1%, makin? 5% In all." After 5% on both common and
preferred, the two share pro rata.
V. 82, p. 810, 800.

—

Offered.
trustee,

—

Harmony & New

Castle Street Ry. Bonds
LTnion Trust Co. of Pittsburgh, the mortgage
offering at 102J/^ and int. for delivery about July

Pittsburgh

— The

is
Manhattan Ry., New York. Damage Claims Barred.
The Court of Appeals on Wednesday, in an action brought 1 a block of first mortgage 5% bonds, tax-exempt in Pennby one Hindley in 1901 as the owner of property on Sixth sylvania, dated June 1 1906 and due June 1 1936; interest
Avenue along the line of the company's road, reversed the Dec. 1 and June 1. The total authorized i.ssue is $3,500,000,

decision of the lower courts and held that abutting propertyowners are barred by the statute of limitations from bringing
actions for damages to easements through the operation
of the railroad after 20 years from the commencement of
operations.
Judge Vann wrote the opinion.
f-The elevated roads south of the Harlem River were constructed and
put in operation between June 1878 and August 1880, the company
claiming that under the statute abutting owners became barred 20 years
later, viz., between June 1898 and August 1900.
The.Court held that
the fact that the company had settled with many property-owners
.similarly situated, and in various tax petitions had admitted its liability
for damages to abutting property-owners was irrelevant, maintaining
that there was no privity between the plaintiff and other owners.
The
coun.sel for the company estimates that the number of such claims still
outstanding or unsettled is about 7,500, and their aggregate value,
based on judgments and voluntary settlements already made, would be
from S6,000,000 to $8,000,000.— V. 81, p. 666.
Manila RR. Speyer Road Incorporated. This company
was incorporated in New Jersey on June 6 with a capital of
$100,000 in connection with the contract of Speyer & Co.
for constructing railroads in the Philippines.
Compare
Philippine Rxiilroads, Island of Luzon," V. 82, p. 1102.

—

—

—

Maryland & Pennsylvania RR. To Be Electrically
Equipped. President Alexander Brown announced at Baltimore on June 7 that the management proposes to equip
this 79-mile road with electricity, at least from Baltimore
to Belair, 26 miles.— V. 82, p. 1102.
Mason City & Fort Dodge RR. Earnings. The earnings
f«r the 9 months ending March 31 shows:

—

—

—

which $2,500,000 are issued for the present road, the remaining $1,000,000 being held for extensions, and can only
be issued with the consent of the trust company. These
bonds are secured by a first lien on all property and franchises (running 999 years) now owned or hereafter acquired.
The company was formed on June 1 under the laws of Pennof

sylvania with $3,000,000 capital stock as a consolidation of
the companies below mentioned.
Officers: R. H. Boggs,
President; Secretary and Treasurer, Mark G. Hibbs. Office,
Park Building, Pittsburgh.
The trust company furnishes the following particulars:
This company will own approximately 76 miles of road outside of
Greater Pittsburgh, 14 of which wiU be double-tracked, and will serve
an interurban population of over 75,000 in addition to that of Greater
Pittsburgh.
It will have a direct route from the city of Pittsburgh to
the centre of the business district of New Castle, a distance of about 50
miles, and a branch from Evans City to the centre of the business district
of Butler, a distance of about 12 miles.
Through an operating agreement
with the Pittsburgh Railways Co. their cars will enter Pittsburgh, having
the terminal at Sixth and Liberty sts., the centre of the business district.
We estimate that this road will earn the first year about 850.000 over
and above all fixed charges, taxes, depreciation, &c. The road is to be
built like a first-class railroad and the speed will compare very favorably
with that of the steam roads serving New Castle, Butler and Ellwood City.
Capital of Companies Co7isolidated (Combined Capital $3,000,000.)
Pittsb. &HarmonvSt. Rv.$500,000 IPittsb. Harmony Butler &
Thorn Hill St. Ry
New Castle St. Rv
250,000
$300,000
Gallery & Evans City St. Ry 609,000 El.City&Hazeldell St. Ry. 300,000
EvansCity St. Ry
6,000
326,000 Wavne Elec. St. Ry
Butler

& Harmony

St.

Ry. 400,000

Ry
9,000
New Cas.&Harmony St.Ry. 300,000
Ashtabula RR. Lease. See
El. City Elec. St.

—

—

Pittsburgh Youngstown &
Pennsylvania Company above. V. 82, p. 753.
?;37,710
Redding & Red Bluff Ry., California. New EnterpriseNet earnings
360,000
Deduct
115,984 Proposed Bond Issue.
The shareholders will meet at the ofTaxes
fice of the company. City Hall Ave. and McAllister St., San
New Stock. See Chicago Great Western Ry. above. V. Francisco, on Aug. 6, to authorize an issue of $800,000 mort81, p. 1436.
gage gold bonds to be used in building the road from Tehama
Missouri & Illinois Bridge & Belt RR. New Officers.
Compare statement as to
to Redding, Cal., with branches.
A.J. Davidson has been elected President and Henry Miller, power contract in report for Northern California Power Co.
Vice-President; both with offices at St. Louis, Mo.
V. 80, in V. 82, p. 1320.
Geo. J. Reiner is Secretary.
p. 711.
Salisbury & Spencer (Electric) Railway, North Carolina.
National Railroad of Mexico. Listed. The New York Bonds Offered.
Edward M. Deane & Co., Grand Rapids,
Stock Exchange has listed $3,000,000 additional prior lien Mich., who manage this property, offer, at par and accrued
interest, $42,000 5% 40-year first mortgage gold bonds.
4>^% bonds of 1926, making the total listed $23,000,000.
The bonds just listed "were issued by the company to reimburse it in A circular .says:
Gross earnings
Operating expenses

—

—

$1,387,485 Rentals U. P. bridge
836,791
and terminals
550,694 Interest on bonds
Balance, surplus
37,0001
I

—

I

I

—

—

|

—

—

—

—

—

—

part for the purchase of 63,000 shares of the capital stock of the Hidalgo
& Northeastern RR. Co., Ltd., being the entire capital stock of said
railroad, the actual cost of said stock to this company being $6,300,000
Mexican currency, equivalent to about $3,150,000 in ll. S. gold. There
is no bonded debt upon the said Hidalgo & Northeastern and no mortgage lien thereon. The Hidalgo & Northeastern is a narrow-gauge line
152.235 miles in length, running from the City of Mexico to Tortugas
and with branches from Tizayuca, on the main line, to Pachuca, and
from Tepa, on the main line, to Irolo." The earnings of the road in
American currency for the year 1905 were: Gross, $.534,586, against
$497,129 in 1904; net, $175,414, against $163,123 in 1903.— V. 82, p.

1041,987.

National

above.— V.

RR.

—

— See Coahuila Coal Ry.
Light Co. — Preliminary Con-

of Mexico.
Lease.
82, p. 1041, 987.

Northern Ohio Traction &
The "Boston News Bureau" on June 14 said:

tracts.

—

Preliminary contracts have been signed for the transfer of the Tucker,
in Stark and Tuscarawas counties, Ohio, to the
Northern Ohio Traction & I,ight Co. The transfer will prot)ably take
nlace in July and will include the Canton-Akron Ry Co., the Canton CityNew Philadelphia Ry. Co., the Cahton-Massillon lines and the Tuscarawas
Traction Co., capitalized at about $4,.500,000. V 82, p. 1213, 278.

Anthony & Co. holdings

.

—

—

—

—

—

Pennsylvania Company. Dividend Increase. This company, whose entire $60,000,000 stock is owned by the Pennsylvania RR. Co., has declared a semi-annual dividend of
3%, being at the rate of 6% per annum. Heretofore divi-

A

consolidation of the gas, electric light and street railway interests
N. C, and Spencer, N. C. Bonds dated May 1 1905, due
Denomination $1,000. Coupon interest payable May 1
1 1945.
Michigan Trust Co., trustee. Grand Rapids, Mich. Capital
and Nov. 1
stock, $400,000; bonds authorized, $1,000,000, of which held for betterments $650,000 and issued $350,000. For six months ending March 1
1906, gross earnings, $24,054; operating expense, $11,427; net earnings
applicable to interest, $12,627.
The street railway comprises 3 miles of
track in and between the towns of Salisbury and Spencer, with power
Salisbury.
Franhouse at
Sixt.v pound steel rail; rock ballasted.
Owning both
chises exclusive and running for 60 years from 1901.
the gas and electric light properties, competition in lighting is entirely
The capacity of the gas plant has recently been largely
eliminated.
increased
of Salisbury,

May

.

Schenectady (N. Y.) Ry.

above.— V.
Toledo

— The

&

— See

Delaware

80, p. 652.

Western

(Electric)

Ry.

& Hudson

Co.

— Sale Not Consummated.

option on the block of stock deposited with the
Citizens' Savings Bank & Trust Co. of Cleveland has expired.
It is said that the option was held by Matthew Slush, former
President of the Detroit Monroe & Toledo Short Line, and
his associates and was not exercised because only a minority
interest was deposited.
V. 82, p. 335.
Twin City Rapid Transit Co. Purpose of New Stock
The $2,100,000 new common stock, recently offered
Issue.
,

—

—

—

June

THE CHRONICLE.

16 1906.]

it is announced, is issued on account of
the new interurban line between Minneapolis and St. Paul,
the extension to South St. Paul, a new line to Lake Minnetonka and the equipment for these various lines. V. 82,

to the shareholders,

—

p.

1269.

—

1381

—

—

Consolidated Gas Co. of Baltimore. Consolidation. See
Consolidated Gas, Electric Light & Power Co. of Baltihiore
below.— V. 82, p. 1104.

— Consolidated Gas, Electric Light & Power Co., Baltimore.
Consolidation. — The shareholders
vote June 20 upon
will

United Railways & Electric Co. of Baltimore. Protective a plan of consolidation of said Consolidated Gas, Electric
Action by Income Bondholders.
Fifteen Baltimore firms, Light & Power Co. with the Consolidated Gas
Co. of Balti"being dissatisfied with the financial policy of the manage- more City.
ment, and desirous, if possible, of placing the company in
The new electric station of nearly 30,000 horse-power, at
funds, in order that a portion of the present net income, Westport, it is expected, will shortly be ready for
operation.
amounting to about $1,000,000 per annum, as shown by the
V. 82, p. 1104, 337.
last annual statement, may be used in payment of interest on
ConsoUdated Gas Co. of New York. Injunction Status of
the income bonds," request all holders of these bonds to
Litigation.
Judge Lacombe handed down a decision on
send their names and addresses to the temporary secretary
June 8 continuing the order restraining the public authoriof proposed association, C. Irwin Dunn, Room 6, Stock
Exchange Building, stating the number of bonds held. ties from enforcing the 80-cent gas law. He makes the
The proposed association will act for the mutual protection statement in his opinion that he did not intend to restrain
and benefit of the income bondholders, in order that a plan individual consumers from bringing actions against the
company
may be submitted for consideration, which would be ad- difference to prevent the latter from collecting the 20-cents
by summary measures (such as refusal to supply
vantageous to the interests of all income bondholders, ingas). Many such actions have been brought in the State
sisting that we will not surrender any rights now possessed."
Courts, and the question is now before the Appellate DiThe firms referred to are:
vision whether the State Court will interfere while the test
D. Fahnestock & Co., Stein Bros., Hambleton & Co., Peard, Hill & Co.,
Robert A. Fisher & Co., Sutton, Strother & Co., McKim & Co., Riggs & suit is pending in the Federal Courts.
Hopper, Bartlett S. Johnston & Co., Alex. C.Nelson & Co., John RedThe Court refrains from passing upon the merits of the issues, but will
wood, Wilson, Colston & Co., Wm. Schwarz & Sons, Lawrence Perin & appoint a master (not an examiner) to take testimony and "make all
Co., James M. Thompson & Co.
needed computations and find fully the facts." Constitutional quesorder can'be taken direct to the
The amount of income bonds outstanding is $13,939,000, tions being involved, an appeal from thethe matter, for several reasons,
United States Supreme Court, where

—

—

—

—

— V. 82,
United Railways Investment Co. of San Francisco. —
Dividend. — The directors on June 14 declared a scrip divinot $5,000,000 as
p. 1324, 1038.

!l

inadvertently stated last week.

.Scrip

•

dend of 21/^% upon the outstanding preferred stock, being
in payment of dividends for the half-year ending March 31
1906; such dividend to be payable on July 2 to the holders
of record June 25.
The scrip will bear
interest.
A circular states that
the United Railroads of San Francisco will be able to resume
cash dividends early next year, "which dividends will be
used in the retirement of scrip issues of the Investment
Company, if then outstanding, in accordance with their
respective provisions."
V. 82, p. 1041, 988.
United Traction Co. of Albany, N. Y. See Delaware &
Hudson Co. above.— V. 82, p. 393, 162.

5%

—

—

INDUSTRIAL, GAS AND MISCELLANEOUS.

k

—

—

American Salt Co. Sale June 19. The tract of land in
the Parish of St. Mary, La., known as Belle Isle, containing
400 acres of "high land" and 2,400 acres of sea marsh or
pasture land, is advertised to be sold under foreclosure at
New Orleans on June 19 under order of the Circuit Court
of the United States for the New Orleans Division of the
Eastern District of Louisiana. The Morton Trust Co. of
New York is trustee under the $125,000 mortgage which
was made in 1898 by the Gulf Company (predecessor company); bonds i.ssued, $83,000, 5%. Compare V. 80, p. 1176.
American Shipbuilding Co. Denied. Referring to the
report that the company is to be reincorporated under the
laws of Ohio, both cla.sses of shareholders "to participate in
the surplus of the company," Vice-President R. C. Wetmore
writes:
"There is no truth in this statement. We have
no idea where it originated and have no thought of changing
to an Ohio corporation."
V. 81, p. 1438.
American Slate Co. Called Bonds. General mortgage
bonds Nos. 121, 217, 10, 48, 265, 19, 53, 159, 34, 207,
21, 42, 27, 234, 185, have been called for redemption and
will be paid at the Northampton Trust Co., Easton, Pa.,
on July 1 1906. The company's office is at 929 Chestnut
Street, Philadelphia.
President, William J. Turner; Treasurer, M. W. Catchings.— V. 69, p. 1303.
Battle Creek Power Co., California. Guaranteed Bonds.
This company, incorporated in California in February last
with $1,000,000 capital stock, in shares of $20 each, some time
since made a mortgage to the Mercantile Trust Co. of San
Francisco, trustee, to secure $1,000,000 of 5% gold bonds
of $1,000 each, which arc being issued for the purposes
stated in the annual report of the Northern California Power
Co. in V. 82, p. 1.320.
The bonds are dated Feb. 2 1906, are due in 19.36 without option of

—

—

—
—

—

—

—

redemption; interest payable Aug. 1 and Feb. 1 at office of trustee.
in fee water rights, pole lines in Shasta. Tehama,
Glenn and Butte counties, Cal. President, Henry Ward Brown; Secretary, W. C. Bates.
The Northern California Power Co. owns all of the
capital stock and guarantees by indorsement the principal and interest
earlier

The company owns

of the bonds.

—

—

British Columbia Packers Assn.
Dividend.
A dividend
on the preferred stock for the period Nov. 20 1902 to
Nov. 20 1903 was paid on May 21 1906, leaving two years'
accumulated dividends yet due. The plan of February last
failed of acceptance.
See V. 82, p. 453.

of

7%

Charleston (S. C.) Light & Water Qo.— Description of
Water Supply. See "Engineering News" of June 7. V.

—

—

75, p. 396, 32.

—

Cheyenne Light, Fuel & Power Co. Sold.
Colorado Power Co. below. V. 75, p. .551.

—

—

—

— See

Northern

Colonial Copper Co.
New President. David H. Carroll
has been elected President to succeed J. A. Hanway, of New
York. The company has offices in the Law Building, Balti-

more.— V.

81, p. 1667.

would have preference on the calendar.
columns on a preceding page.

—

See also remarks In editorial

Similar orders will be entered in actions brought by the
Central Trust Co. as trustee of the New Amsterdam consolidated mortgage and stockholders of the New York Mutual
Gas Light Co. and some of the subsidiary companies directly.
Compare V. 82, p. 1325, 1159, 1043.
Subsidiary Reduces Dividend.
See Standard Gas Light Co.
below.— V. 82, p. 1325, 1159.

—

—

—

Dominion Copper Co., Limited. Bonds Offered. Stockholders of record June 21 who have converted their $1 shares
into $10 shares are offered the right to sub.scribe pro rata
until and including July 5 for $300,000 of the company's
first mortgage
10-year gold bonds (part of a total authorized issue of $1,000,000, of which $700,000 is outstanding),
and for $2,280,000 stock in shares of $10 each, present outstanding amount $2,700,000. The bonds and stock are to
be sold together and the price for a bond of the par value of
$100, and 76 shares of accompanying stock, is $229 80, as
of June 1 1906.

6%

Some of the large shareholders have consented to waive their right to subscribe
for their full proportion, and accordingly every holder of 76 shares (par value $ 10 each)
desiring to do so will be entitled to subscribe for one bond of $100 and 7(i shares of
stock accompanying it. The bonds are payable June 1 1915 but are redeemable
earlier by the company in the manner provided therein.
The propo.sed issue has
been underwritten by a syndicate. The subscriptions mu.st be delivered to the
National Trust Co.. Ltd., Toronto. Can., with certified check for SOS of the subs-rlptlon price, including exchange on Toronto, not later than July 5 1906.
Compare v. 82. p. 1214. 1043.

Diamond Match

—

Co.

— Listing —California

Properties

De-

New

scribed.
The
York Stock Exchange has authorized the
listing on and after to-day (June 16), when and as i.ssued, of
$1,000,000 additional capital stock, making the total authorized to be listed to date $16,000,000.
This increase is
made in order to provide funds for adding to the manufacturing facilities of the company, and for the liquidation of

a debt which was incurred in connection with the purchase
and erection of plants in California, in which the
aggregate investment to March 22 1906 was $1,592,851 viz.:
(1) 75,000 acres of pine land located in Butte, Plumtis and Tehama

of lands

,

coimties, Cal., on which stands approximatel.y 2,000,000,000 feet of pine
(2) At Stirling City, Cal., a two-story frame saw mill building,
entirely modern, witli machiner.y, tools, appliances and appurtenances
of all kinds to produce 200,000 feet of lumber per da.y.
(3) At Chico,
Cal., (a) a modern iron-clad frame, sash, door and blind factory, with a
floor space of 26,280 square feet, making 1 .000 doors per day; ih) a modern frame planing mill and box factory, with floor space of 19,800 square
feet in planing mill, 19,800 square feetin the box factory and 7,500 .square
feet in the carpenter shop; also (c) a modern brick, steel and concrete

lumber.

machine, foundry and blacksmith shop, with tools, machines and complete appliances, with a floor surface of 15,000 square feet in the machine
square feet in the blacksmith shop, 8,300 square feet in the
foundry and 9,700 square feet in the power plant; (d) modern two-story
brick and steel building for a match factory with a capacity of 3,000 gross
of matches per day.
V.82,p. 1325, 1159.'
.shop, 5,600

—

—

—
—

Corporation. Free Alcohol Bill.
See text of the new Act on a preceding page.
V. 81 p. 1794.
du Pont International Powder Co. Dividends Resumed.
See International Smokeless Powder & Chemical Co. below.
V. 82, p. 631.
El Paso (Texas) Gas & Electric Co. Bonds Offered.
Emery, Anderson & Co., Cleveland, are offering at 101 J^
and interest $100,000 6% general mortgage gold bonds of
$1,000 each, dated Dec. 15 1904, due Dec. 15 1934, but
subject to call Dec. 15 1914 at 105 and accrued interest.
Interest payable June 15 and Dec. 15 at Central Trust Co.
of Illinois, Trustee, Chicago, 111.
A circular says:
Distillers'

Securities

—

—

—

—

,

—

OrRanlzed under the laws of Texas: a reorganization of the El I'aso <!as. Klectric
l.lKht
Power Co. Corixiratc existence for .lO ye.ars from 1904: the charter authorizes operations in Kl I'aso and adjiic 'nt territory, .'vnd Juarez. Mexico, directly
acro.ss the Rio Grande Ulver.
CaiJitaiizatlon: Stock. 6"; preferred, $2.S0.O0n:
common. S2,50 000. Honds: Authorized (general mortgage 6s). $.500,000. of which
held In escrow to retire $12r) 000 6' r underlying (optional Nov. 1 190S at par),
Sl.'l.'i.OOO: Issued and outstanding 822,'>,Oi)0: n'scrvcd to be put out as bcltcrment.s
are effected and additions made, and then only at !)0';, of the cost thereof. $140,000
The gaa franchise in Kl I'a.so has .{SH vears to nm. and allows a price of SI 60
This franchise
net per 1.000 cubic feet for lighting and $1 .M net for fuel or power.
A concession from Juarez. Mexico,
Is llberaliand without undesirable restricllcms.
The electric light
for the same period was granted in 190.5 without price limit.
franchise run.s imtil 1911. and ran be renewed without dlfTlculty.
Owns two city blocks In Kl l'a.s() on which are located a coal-gas plant of suffleient
capacity to supply present requirements and a water-ga.s plant erected In 190.'>
containing two complete sets of water-gas apparatus of the Lowe type, each having
a capacity of .lOO.OOO feet of gas per day. The gas-holders are three In number
of 20.000, 60.000 and 200.000 cubic feet capacity. There are In u.ir 1.622 meterfi.

&

THE CHRONICLE.

1382

939 cooklnfT «U>vv8, 237 heating sUives and 522 Kas enKlnes. The company haa 20
miles ot malnN In wrvlcr, 10 mllOH u( which were laid In 1905: 6 mlleH will be laid
In 1906 and It Is estimated that It will require 5 miles of new mains yearly for the

the Cobalt district of Canada.
of May 25 said:

next four years to cover the demand. The elcetrlc-llKht plant Is sulnclenl for the
demand: the pole lines cover the principal parts of the city.
Balance
Gross
Set
HontI
Oas Sold
Year mding
Surplus.
Earnings.
Earnings.
(cubic leet)
Interest.
Mav Al
$31,921
$12,971
32.000.000
$64,275
$18,950
lOOti (actual)
23.400
50.000.000
95.000
45.000
21.000
1907 (estimated)
Ulrectors: President. Geo, F. Goodnow. VVaukegan. III. Manager North Shore
G.1S Co.: Vice-President and Treasurer. C. H. Bosworth Chicago, 111.: Assistant
Secretary and Treasurer, Geo. D. Klory El Paso, Texas: General Counsel. Perry I.
Turner, Elkhart. Ind.: Charles Bassett. El Pivso: Frank R, Crane. Chicago: and
Wm. Barrett Rldgely. Washington. O. C.
Letter Jrom President Geo. F. Goodnow, dated Chicago, June 1 1900.
The process was changed from coal-gas to water-gas In June 1905: active operation therefore, was only In force for the last six months of 1905, with the result
In
that In 1905 there were sold 25,000,000 feet of gas against 15.000,000 in 1904.
1905 $08,000 was .spent In Improvements and in 1906 $50,000 Is being invested In a
The company has reduced the price of gas In El Pit-so, and theresimilar manner.
The company has a bright future, and when
fore has the good-will of the people.
the underlying bonds have been retired, which we have contracted to do at their
optional date, the present general mortgage bonds will become a full llrst mortgage
and tlie company will be earning three to four times its bond interest charge.

The company has been lncorporat<-d under the laws of Maine and haa a capital
which 50% has been issued. The Home 'lYust Co. has been
appointed tr-insfer agent. The directors arc K. C. Converse. E. P. Earle. J. R.
Uelemar. R. .M. Thompson, Joseph Wharton. Duncan Coulson. Ambrose Monell,
iJavld Faskin and R. T. (ireene.
The annual report says that more than ttiOO.OOC)'
Is

hands

of Victor C.

—

—

Chambers, as

stated to aggregate $58,838, and Mr. J. T. Lynn. President of the
National Gas, Electric Light & Power Co., estimates the net income of
these plants, together with that of Joplin, whose securities are also deposited, at about $90,000 for the year 1906.
The notes are a direct obUgation of the National, which has other income not dependent upon the
earning power of the plants above enumerated, whose securities are
specially pledged to protect the notes.
These notes are further convertible at the option of the holder during their life into the preferred'
stock of the National, which stock is now paying dividends at the rate of
6% per annum. Application will be made during the coming year to
list the preferred and common shares ($947,500 and $1,209,600 respectively) of the National at the Philadelphia Stock Exchange, and Mr.
John .S. Bioren of the firm of Bioren & Co. will shortly enter the board of
directors to represent the note holders.
See V. 82. p. 808; V. 79, p. 155.

—

receiver.

receiver was appointed by .Judge F. C. Ampt of the Insolvency
Court in the suit of the Monongahela River Consohdated Coal & Coke Co.,
holder of an unsatisfied judgment for $320.
There are said to be outstanding $25,000 stock and $40,000 bonds. At auction in Cincinnati
in 1920, were bid in at 80.
on June 9 $4,500 5 per cents, due

—

Co.

below.— V.

—

—

National Water Co. Stock Offered.
This company has
been organized under the laws of Wisconsin with a capital
of $10,000,000, of which $4,000,000 is 7% cumulative preferred stock and $6,000,000 common stock; of which $2,000,000 of preferred and $3,000,000 of common stock are to be
issued to acquire the capital stock and all the property of
the White Rock Mineral Spring Co., free of all debts, obliga-

& Power Co. —Possible Sale.

—See York Haven Water & Power

—

is

The

Harrisburg (Pa.) Light, Heat

available for dividends.

—

—

—

now

National Gas, Electric Light & Power Co., Detroit, Mich.
Convertible Notes Offered.
Biorcn & Co. and Townsend
Whelen & Co., both of Philadelphia, arc offering at 99 and
accrued interest, by advertisement on another page, $300,000
18-months 5% convertible gold notes of $1,000 each; coupons payable January and July, principal due Jan. 1 1908.
The.se notes, which yield a return of nearly 6%, are secured
by deposit with the Merchants' Trust Co. of Philadelphia,
as trustee of all of the .stock of the Rome (N. Y.) Gas, Electric Light & Power Co., the Port Huron (Mich.) Gas Co., the
Goshen (Ind.) Gas Co. and the Joplin (Mo.) Gas Co. We
have been favored with the following:
The net income of three of these companies for the calendar year 1905

Empire Sugar Refining Co. Successor Company.— See
Warner Sugar Refining Co. below.— V. 78, p. 2014.
Goshen (Ind.) Oas Co. Stock Pledged. See National
Gas, Electric Light & Power Co. below.
Gulf Company. Foreclosure. See American Salt Co.
Harrison (O.) Water & Light Co. Receiver. At Cincinnati, Ohio, on June 4 this coinpany, organized by A. L.
Rich, the missing broker of Cincinnati, was placed in the

—

The Pittsburgh "Dispatch""

of $12,000,000. of

—

—

[Vol. lzzzii.

72, p. 778.

—

IndianapoUs (Ind.) Telephone Co. Petition Denied.
The Board of Public Works of Indianapolis on June 8 declined to approve of any change in the franchise of this company's subsidiary, the New Telephone Co. Compare V. 82,

tions and encumbrances of any kind; in addition, the White
"An- Rock Mineral Spring Co. will turn over to the National
Water Co. supplies and stock in trade amounting to not less
New Director. Thomas W. Joyce has been elected a than $25,000. The National Water Co. will acquire all this
property free of encumbrance and will have in addition not
director to succeed James H. Hyde.
V. 82, p. 337, 52.
less than $150,000 cash on hand.
International Smokeless Powder & Chemical Co. Divi
The stock is offered for subscription on the following terms:
dends Resumed.
This company has declared a dividend of $2,000,000 preferred stock at par, with the privilege to the
on the common stock, payable June 30 to stock of subscriber to purchase 60% of .said sub.scription in common
record June 20. The du Pont International Powder Co. stock at $5 per share. Subscriptions payable on or before

p. 932, 163.

International Mercantile Marine Co.
nual Reports."

—

—Report. — See

—

—

—

^%

has also declared a dividend of 1}4% ^^ the preferred stock,
payable June 30 on stock of record June 20.
Report.
See "Annual Reports" on a preceding page. V.

June 21 1906.
H. G. Runkle is syndicate Secretary, 100 Broadway,
New York City, and subscriptions are payable to the Colonial
Trust Co.
Par of shares, $100. The syndicate includes
William A. Marburg, Herman Ellis, A. M. Young and H. G.
Runkle.

—

—

82, p. 631.

—

—

International Steam Pump Co.
Nev) Directors.
William
Guggenheim has been elected to the Board to succeed H. K.
Knapp and Irwin C. Stump in place of Jacob Rubino.

—V.

82, p. 1159, 1104.

—

The net income from operations for the six years ended Dec. 31 1905
are reported as follows: 1900, $75,494; 1901, $114,538; 1902, $150,815;
1903, $199,846; 1904, $224,424; 1905, $254,231.
The company will enter into a contract with the Wilson Distilling Co.
of Baltimore, Md., for the sale to that company of the entire output of theWhite Rock Spring, by which the Wilson Company obligates itself to
take a minimum of 300,000 cases of carbonated water each two years of
the life of its contract.
Under this contract the net income per year willbe at least; From carbonated waters, $286,000; from still waters, ginger ale
be at least: From carbonated waters, $286,000; from still waters, ginger
ale, &c., $14,000; total, $300,000; 7% dividend on $2,000,000 preferred
stock, $140,000; balance applicable to common stock, $160,000.

—

Joplin (Mo.) Gas Co.
Stock Pledged.
See National Gas,
Electric Light & Power Co. below.— V. 70. p. 1098.
Massachusetts Gas Companies. Pool Dissolved. Boston
advices state that "the protective pool of $5,000,000 formed
about a year ago" was dissolved on June 8 without ever
having had occasion to act. V. 82, p. 1272.

—

—

—

—

Meridian (Miss.) Water Works Co.— Sale to City. See
"Meridian" in "State & City Department" on another page
of this issue.— V. 80, p. 1178.
Mexican Light & Power Co. Description of Property.
See "Engineering Record" of June 9.— V. 82, p. 933, 164.
Mexican Telegraph Co. Listed. The New York Stock
Exchange has listed $1,000,000 additional capital stock,

—

—

making the

Nipe Bay Co., Cuba.

—

—

total listed to date $3,000,000.

increase of capital stock from $2,000,000 to $3,000,000 is for
the purpose of capitalizing new cable laid in July 1905 from Galveston,
Tex., to Coatzacoalcos, Mexico, 792H knots; picking up No. 2 Galveston-Coatzacoalcos cable and laying same in and out of Vera Cruz, Max.,

new instruments and other betterments amounting

to $560,000; capitalization of valuable concessions and contracts acquired by the company
since 1890, appraised as being worth more than .$440,000; total, $1,000,000.
The new stock was distributed as a stock dividend. See V. 82,
p. 1104, 990.

—

New Director. John W. Auchincloss has been elected a
director in place of William G. Hamilton.— V. 82, p. 1104, 990.
Michigan State Telephone Co.

— New Form

of Certificates.

—

—
Conn. —Prepay-

Middlesex Banking Co. of Middletown,
ment of Debentures. The company will pay upon presentation, with interest to date of payment, debentures of
Series D49 and D55, due Nov. 1 1906.— V. 81, p. 1553.

—

—

—

Nipissing Mines Co. Listed in Pittsburgh. The Pittsburgh Stock Exchange has listed this company's $6,000,000
capital stock, par of shares $5.

The property

is

are reserved for future developments.
Capitalization as it will be on Jan. 1 1907.
Common stock (par of shares, $100. Compare V. 81, p. 1378,

—

shortly make application
for listing its preferred stock on the New York Stock Exchange, and that preparatory thereto the preferred stock certificates should be exchanged for the new form of certificate at
either the Boston Safe Deposit & Trust Co., Boston, Mass.,
or the Bankers' Trust Co., New York.
Similarly the common stock trust certificates (V.-78, p. 586) should be sent to
the Registrar & Transfer Co., 35 Nassau St., New York,
to be exchanged for new trust certificates of the style required
by the Stock Exchange.
Annual Report. See a preceding page of this issue. V. 82,
p. 1104.
it will

located in

—

6%

"The

The company announces that

—

Offering of Convertible Notes Status.
Higgin.son & Co., Boston, in offering at 97 and interest the small unsold portion of a present issue of $2,750,000
3-year
first mortgage convertible gold coupon notes of
$1,000 each, dated June 1 1906 and due June 1 1909, but
convertible into common stock at option of holder at any
time prior to March 1 1909, on the basis of ten shares of
common stock for each note of the par value of $1,000
(interest payable June 1 and Dec. 1 at Boston; trustee, City
Trust Co., Boston), say in substance:
These notes are part of a total authorized issue of $3,500,000, of whicb
$2,750,000 will be issued now, and will be secured by a first mortgage
on the entire property, which includes land, mills, railroads, wharves,
&c., at Nipe Bay, Cuba, suitable for growing and grinding sugar cane
and shippmg the manufactured products. It is estimated that the
company will eventually produce 160,000,000 pounds of sugar and 4,500,000 gallons of molasses per annum. The balance of the notes, $750,000,

— Lee,

;

215— Ed.)

$3,502,500

Preferred stock, proceeds spent on mill, &c. (see following

letter— Ed.)
6% notes due June

2,000,000
1909 ($3,500,000 authorized) issued for
further improvements and to retire $1,000,000 notes dated
Feb. 15 1905 (called for payment at 102 and int. on Aug.
15 1906) proceeds of which have been expended on the
property
2,750,C0O
The value of the property, it is estimated, will be $5,500,000, viz.:
130,000 acres of sugar land, paid for by common stock and believed to
be worth without cultivation at least $1,250,000; improvements at cost
paid for by sale of preferred stock and $2,750,000 notes, $4,250,000.
Abstract of Letter of President Andrew W. Preston, May 31 1906.
Organized May 25 1900 under the laws of New Jersey, and owns
130.000 acres bordering on Nipe Bay, Cuba, where it has undertaken the
development of a cane sugar proposition along the most advanced lines.
Exclusive of the cost of the land the company proposes to e.xpend some
$5,000,000 upon the developinent of the property. It was originally
planned to install milling facilities in three units, so that one-third of
the ultimate capacity would be available in 1907, two-thirds in 1908 and
As it became evident that the
the full capacity in the season of 1909,
company could have available for the first crop about 15,000 acres instead of 9,000 acres of cane, arrangements were at once made for the installation of the second instalment of machinery, which will thus be in
To date, in addition
readiness a year earlier than first contemplated.
to clearing and planting, there have been built 20 miles of standard,

1

—
June

—

—

—

.

.

THE CHRONICLE.

16 1906.]

gauge railroad, laid with 60-Ib. steel rails, and a wharf reaching deep
water at a distance of 1,850 feet from shore. The factory building,
constructed entirely of steel, has been nearly completed, and numerous
frame buildings have been erected, including stores, hospital, offices,
hotel, dwellings and barracks, the whole comprising a considerable town.
Water supply, saw mill, electric lights, telephones, ice plant, &c., have
been installed. The total expenditure to date exceeds $3,000,000, exclusive of the cost of the land.
The location, soil, climatic conditions, water supply and facilities for
shipping sugar as well as molasses, in connection with this thoroughly
modern plant, will enable the company to produce sugar of the finest grade
The plant is designed to have an ultimate
at an exceptionally low cost.
capacity of 5,000 tons of cane per day, for 200 days in each year, which
will require 25,000 acres of cane yielding 40 tons to the acre, and it is
estimated that the completed factory will produce 162.000,000 pounds
The average selling price in New York for the
of raw sugar annually.
past fifteen years of such sugar as our mill will produce has been 2.625
cents per pound, and if 1 .625 cents be allowed as the cost of the sugar,
we sliall have as net profit one cent per pound, or $1,620,000 per year.
This rate of profit was exceeded last year by the factory of the United
Fruit Co. at Banes, Cuba, a few miles distant from Nipe. When our
plant is in full operation, therefore, the earnings, based on the average
selling price of sugar for the last 15 years, should be approximately as
follows:
Net profits on 162,000,000 pounds of sugar, $1 ,620,000; interest
notes, $210,000: balance, $1 ,410,charges on total issue of $3,500,000
000. It is expected that the property in 1907 will be developed to the
extent of three-fifths of its capacity, from which the net profits should

6%

be about $900,000.
The company has outstanding $3,502,500 common stock and $2,000,000 preferred stock notes (sold for cash) which, by their terms, must be
exchanged for preferred stock on Jan. 1 1907.

The $3,502,500 common stock has been listed on the
Boston Stock Exchange. The [total authorized issue is $7,100,000, of which $3,500,000 is reserved for the conversion

1383

—

Capitalization.
First mortgage 5% bonds ($1,000,000 authorized
dated 1900, due Feb. 1 1920; interest payable Feb. 1 and Aug. 1 at
National Shawmut Bank, Boston. Ed.), $988,500; debenture 57c bonds

—

preferred stock, $825,000; common stock, $875,000.
The
best of and most of the lime quarries and kilns in
Rockland and Rockport, Maine. It owns all the stock of the Lime Rock
RR., by which the lime rock is transported from the quarries to Rockland harbor. It owns also its own sea-going tug and seven barges of
about 16,000 barrels capacity each, by which it transports most of its
lime to New York. These properties have been operated successfully
for nearly a century.
.\ large majority of all the Ume consumed in
Boston and other New England seaboard markets is supphed by this
company, whose quarries and kilns are located practically at tidewater the quarries being on an average only two or three miles from
shipboard. The company owns a supply of lime rock, it is estimated,
that will last for at least one hundred years. The company sells a large
part of all the lime that is sold in the New York market.
It is doing
the largest lime business in the history of the State of Maine.
The indenture provides that the company shall not put out any notes,
bonds or other evidences of indebtedness during the life of this issue of
$1,000,000 debenture bonds. The company has the right to retire all
or any part at 105 and accrued interest on any coupon date, two weeks'
notice being given by advertising.
Net earnings for the calendar year were $211,815; less interest on
bonds, $99,425; profit after payment of all charges, $112,390, from
which there was charged to profit and loss for betterments, $17,863 13.

$1,000,000;

company owns the

—

Statement of Condition as of April
Assefe ($3,887,730).

1

1906.

Liabilities ($3,887,730).

Plant investment
$3 ,480,406
First mtge. sinking fund.
773
Cash & accts. receivable.
231 ,820
Insurance fund and unexpired insurance
41,570
Stock on hand
133,161

Common

of the aforesaid notes.

stock
Preferred stock

$875,000
825,000
mortgage 5% bonds
988,500
Debenture 5% bonds
1,000,000
Accounts payable
97,181
Mortgage note
80,000
Profit and loss on reserve
22,049
First

—

—

Called.—The $1,000,000 notes dated Feb. 15 1905 and
Sloss-Sheffield Steel & Iron Co.
Earnings.
The results
due Feb. 15 1908 have been called for payment at 102 and for the three and the six months ending May 31 1906 (May
interest at the City Trust Co., Boston, on Aug. 15 1906.
estimated) were:
V. 82, p. 1326, 1159.

—

—

Power Co. Guaranteed Bonds.
See Battle Creek Power Co. above.— V. 82, p. 1320.
Northern Colorado Power Co. N^ew Enterprise MortNorthern

California

—

—

—

This Colorado corporation on May 11 filed a certificate of increase of authorized capital stock from $50,000
to $3,000,000, of which $1,000,000 is 6 per cent preferred; par of shares, $100.
A mortgage has been filed to
the Central Trust Co. of New York as trustee to secure an
issue of $3,000,000
gold bonds, of which $2,000,000 have
been sold to Hallgarten & Co. and paid for. The company
has purchased the electric plants or the capital stock of the
Consumers' Electric Co. of Lafayette and Louisville, Col.,
and the Cheyenne Light, Fuel & Power Co. (V. 75, p. 551),
and has let contracts to the Westinghouse interests for the
construction of an electric power plant of 10,000 electric
horse power capacity at Lafayette, near the cheap coal district.
The capacity of the plant will later be largely
increased and its electricity will be transmitted by lines
aggregating about 167 miles south and westerly to Louisville, Superior, Boulder and the mines and mills of Gilpin
County, easterly to Brighton and northerly to Loveland,
Fort Collins, Greeley and other points in Colorado, and to
Cheyenne and Fort Russell in Wyoming.
Bonds dated May 1 1906 and due May 1 1926, but subject to call May
1 1911 at 110 and interest.
Denomination $1,000. Interest payable
Nov. 1 and May 1 at oflfice of trustee.
William J. Barker of the Denver Gas & Electric Co., PresiOfficers:
dent; J. J. Henry, Vice-President; C. W. Humphrey, consulting engineer
for the Denver Gas & Electric Co., General M^^anager.
Director.s
New York men: J. N. Wallace, President of the Centra
Trust Co.; Edwin Hawley, prominently identified with the Colorado &
Southern interests; George C. Smith, Vice-President of the Electric
Properties Co. (V. 82, p. 1104; thi.s is the Westinghouse Securities Company), and Harry Bronner and H. Winterfeldt, members of the firm of
Hallgarten & Co., New York City. Denver men:
Tyson Dines, Thomas
Keely, W. J. Barker, Joseph J. Henry, W. H. Allison" Hon. F. E. Warren
of Wyoming, William Mayher and C. C. Bromley.
Main office, Denver.
gage.

5%

—

Net

3 months

ending May 31
1905 (estimated)
1904 (actual)
6 months

earnings.

Interest
taxes.

Other
expenses

Preferred
dividend.

Balance,
svrplus

$61,350
60.000

$17,685

$114,000
114,000

$176,228
254,485

and

$369,263
428.485

—

1905-06 (estimated).. -$800, 130
$228,000
$415,344
$122,700
$34,086
1904-05 (actual)
783,669
120.000
228,000
435.669
The accrued dividend on the common stock at the present rate of 5% per annum
would call for $125,000 for the 3 months, or $250,000 for the 6 months.
Total surplus May 31 1906 (estimated), $3.072,772.— V. 82, p. 700, 696, 6S9.

—

Standard Gas Light Co. of New York. Dividend Reduced.
directors have declared a dividend of 13^% on the
common stock, payable with the usual preferred dividend
on June 30 to holders of record June 20. The annual dividend rate of the common stock is thus reduced to 3%, con-

—The

trasting with
Dividends.

'93. '94. '95. '96. '97. '98. '99. '00. '01. '02. '03. '04. '05.

Common,

%....

Preferred,

4

%

1
4
5J^ 4}^

5
8
5
2
6
6
8
6 2}^
6
6
of New York owns $4,630,900 of
$3,934,400 of the $4,295,700 preferred.— V.
4

The ConsoHdated Gas Co.

common and
Straw Pulp

700

—

&

6
6
6
6
6
6
the $4,985,.
80, p. 1855-

Paper Co. Furniture of New York Office
June 4 Deputy Sheriff Cruise sold the
office furniture of the company at 299 Broadway under an
execution of $2,087 in favor of Charles H. Unverzagt, who
bid in the same for $300.
Sold by Sheriff.

— On

The company was organized in December last under the laws of Maine
with $3,000,000 of authorized capital stock in shares of $10 each, oi
which $250,000 was to be 7% cumulative preferred. Charles Templeton
of Norristown, Pa., President.
The stock was offered for sale at par and
interest in March last by or through the Corporation 'Trust & Development Co.

of Pittsburgh.

—

Treasury Tunnel Mines Corporation. Listed in Pittsburgh.
The Pittsburgh Stock Exchange has listed the
$5,955,500 outstanchng stock of tliis company, organized
to mine for gold and other minerals in Colorado. The author-

—

ized capital

is

$7,000,000.

Tremont Coal Co.

—Payment

of

Bonds.

—The $300,000 5%

bonds due June 1 1906 were paid at maturity. The bonds
were held by the public. The company's stock to the amount
Park & Tilford, New York.—O/Zicers.— Frank Tilford, of $2,957,850 is deposited under the general mortgage of the
No. 917 Broadway, has been elected President, and John R. Reading Company dated Jan. 5 1897.
Agnew, Secretary of the old concern, has become ViceTwin City Telephone Co., Minneapolis. Property Sold.
The directors are:
President.
See Tri-State Telephone & Telegraph Co. above.— V. 76,p.51.
Wallace L. Pierce, Boston, of the old-established firm of S. S. Pierre
United Bank Note Corporation. First Dividend. A first
& Co., George Trowbridge Hollister, of Mackay & Co.; Frank Tilford,
Henry Thompson, Heiirv R. Wilson and John R. Agnew
Compare quarterly dividend of 13^% has been declared on the preV. 82, p. 1273, 872, 808.
ferred stock, payable July 2 to holders of record of June 16.
Pittsburgh & Eastern Coal Co.— Cor Trust Notes Offered.— V. 82, p. 457.
Rudolph Kleybolte & Co., Cincinnati, New York and ChiUnited Box Board & Paper Co. Retirement of Old Botids.
cago, are ofi'ering at par and interest $1,000,000 cur trust
All of the fir.st mortgage bonds of 1903, we are informed,
5% notes, dated April 1 1906, due $100,000 annually on have been taken up and the mortgage will be released
April 1 from 1907 to 1910 both inclusive; interest payable July 1 1906.— V. 82, p. 450, 396.
April 1 and Oct. 1 at Union Trust Co., trustee, Pittsburgh,
United States Realty & Improvement Co. Neiv Director.
A circular says:
or in New York.
B. M. Fellows has been added to the board of directors.
These notes are issued to cover 82% of the cost of 1,000 steel hopper
V.82,p. 1326,1274.
coal cars at $1,223 i)er car, the remaining 18% being paid in cash, making
the actual cost of etiuipment under this trust $1,223,000.
1 liese notes
United States Steel Corporation. Called Bonds. On
are secured: 1st. l^y a first mortgage on the above e(iuipment; 2d. By
mortgage on all property of the Pittsburgh & Eastern Coal Co",; July 1 there will be jiaid at the Fidelity Title «t Tru.st Co. in
a first
3d. By the unconditional guarantee of M. A. Hanna & Co., covering both Pittsburgh $100,000 bonds of the H. C. Frick Coke Co.,
principal and interest.
'J'he Pittsburgh & Eastern Coal Co. owns in fee
drawn for redemption at 105 and interest. V. 82, p. 1216,

—

—

—

—

—

—

—

—

—

simple in Washington County, Pa.. 2,500 acres of "thin vein pan handle
coal," the finest coal mined in the PittsburKh district.
The acreage
contains about 12,000,000 tons.
.\ railroad owned l)y the coal company
connects the projjerty with transportation lines. Over $1,000,000 ill
cash was spent for the purcha.se of land and equipping the properties
before any coal was i)ut on the market. The mines are now producing
about 600,000 tons per year, and as the mines will be further developed,
in another year will produce? about 900,000 tons per year.
The entire
output of the company is marketed Ijy M. A. Hanna A- Co.

—

Port Huron (Mich.) Gas Co.— Stock Pledged. See National
Gas, Kicftric Liglit & Power Co. above.
Rockland-Rockport Lime Co. Debentures Offered. Kiddor, Peabody & Co., 15oston, are ofi"ering at 95^^ and interest
$250,000 debenture 5% bonds, due April 1 1911, but subject
to call at 105 and interest; coupons payable April and
October.
A circular says:

—

—

—

—

991.

—

Universal Caster & Foundry Co., Newark, N. J. Called
Bonds. Twenty-three first mortgage ()% bonds secured by
mortgage dated Dec. 14 1903 and due 1929 liave been called
for payment at par and interest at the Fidelity Trust Co.
of Newark, trustee, on July 2.— V. 82, p. 755.
Utah-Apex Mining Co. Bo7ids. President E. R. Hastings in a circular dated lioston. May 29, says in brief:

—

—

—

directors on May 29 1906 vot( d to a.sk stockholders to authorize
of $500,000 5<;; 10-year bonds, convertible into stock at par after
It is the intention to consider careJan. 1 1907, to be sold as ri'fjuind.
fully the erection of a smelter of 500 ton.s capacity; also of a concentrating
The mine will,
mill to handle the large amount of .secoi d-class ores.
we hope, by Aug. 1 have tramway and railroad spur in operation. The
Parvenu Tunnel (lower main workhig tunnel) has yet 1,000 feet to go to

The

an

i.s.sue

THE CHRONICLE.

1384

reach the known ore bodies. The probabilities are that for $100,000 the
f)roperty can be made a moderate dividend payer, but your directors beieve that it has greater possibilities than this, and for that reason have
arranged for placing the whole issue of $500,000 at par, without commission, should tne company require that amount.

The capital stock is $2,500,000, all outstanding.
urer, J. W. Hornc, No. 53 Tremont street, Boston.

—

—

Earnings

—

Net.

Gross.

$10,196
$37 ,296
21,538
42,530
"It will be noted that the net earnings for the year ending Feb. 28 1906
exceeded double the amount needed to pay the interest on all^bonds
issued, including those offered as above."

Year ending Feb. 28 1905
Year ending Feb. 28 1906

Extensions and improvements have recently been com-

Compare V. 78, p. 233, 108.
Warner Sugar Refining Co. of New Jersey, Edgewater,
N. J. Incorporated Purchased. This company, organized
by Charles M. Warner, who recently sold the Warner Sugar
pleted.

—

—

—

Refining Co. of Maine to the Corn Products Refining Co.
(compare V. 82, p. 1321) and incorporated in New Jersey on
May 8 with $3,000,000 authorized capital stock, has placed
in operation the sugar refinery of the Empire Sugar Refining
Co. at Edgewater, N. J., opposite 125th St., New York City.
The daily capacity of the refinery is 2,500 barrels of refined
sugar and the new company is now producing 800 barrels
sugar daily. The plant, it is stated, will not compete with
the Corn Products Refining Co., but will devote itself exOffice No. 79 Wall St.,
clusively to refining cane sugar.
New York City. No bonds or mortgage. Par of shares
$100.
Western Union Telegraph Co. Quarterly. Earnings
(partly estimated) for the quarter and the twelve months
ending June 30 were:

—

Net
revenue.
June 30
$1,750,000
1906 (est. 1
1,701,007
1905 (actual)
12 months
$7,079,948
1905-06 (est.").
7,188,065
1904-05 (actual
Total .surplus (estimated)
82, p. 639, 396.

3 mos. ending

—

paid.

Balance,
surplus.

$1,217,022
1,217,021

$201,678
152,686

Dividends

Interest

charge.

$331,300
331,300
$1,325,200
1,227,200

$4,868,088
4,868,083

$886,660
1,092,782

June 30 1906 was $16,860,869.

—V.

Westinghouse Electric & Manufacturing Co. Allied SeCompany. See "Electric Properties Co." in V. 82,
p. 1104.— V. 82, p. 1046, 809.

—

curities

—

York Haven
The report that

Possible Acquisition.
(Pa.) Power Co.
this company is arranging to absorb the
Harrisburg Electric Light, Heat & Power Co. (V. 72, p. 778)
cannot be confirmed, though quite possibly true.
Bankers Interested. Julius Christensen & Co. of Philadelphia, as succes.sors of Morris Bros. & Christensen, acquired on July 1 1905 all the interest of said firm in the

—

York Haven Water & Power Co.— V. 79,

p. 1026.

—

The publication of the "Sunset Magazine," which had
been interrupted by reason of the earthquake and fire at San
Francisco, has been resumed with the issuance of an "Emergency Edition" for May. This number the publishers (the
Southern Pacific Co.) announce will be the only issue of the
magazine for that month. The June and July numbers,
they state, will be published as promptly as possible, conAt the time of the
sidering many handicaps and delays.
fire the May issue was on the presses, and everything was
destroyed, except the mailing list, a few manuscripts and
The number was devoted largely to the
contract records.
"Sunset"
resources of Oregon and its metropolis, Portland.
for June will be of similar character, some of the articles
being duplicated as far as possible. The present edition
contains an article by Mr. E. H. Harriman on San Francisco.
Sidney H. March, associated with Ladenburg, Thal-

—

mann &

Co. of this city, has decided to locate in St. Louis,

®0mmjerjcial ^imjes*

COMMERCIAL EPITOME.

Treas-

Vincennes, Ind., Lig^ht & Power Co. Bonds Offered
Edward M. Deane & Co. of Clrand Rapids, reEarnings.
cently, when offering for sale the final $50,000 of the total
authorized issue of $200,000 20-year first mortgage gold
bonds, dated Jan. 1 1904, due Jan. 1 1924, reported:

—

3^1xje

[Vol. lxiitl

Friday Night, June 15 1906.
Although here and there signs are not wanting of the customary decrease in transactions during the summer season,
trade on the whole is still good, rather better, indeed, than
Warmer weather, too, has
is usual at this time of the year.
stimulated trade among .small dealers and the fall business
Prices
already under way .seems to be of promising volume.
Speculation, though rather
are very generally steady.
more active in the grain markets and still to all appearances
brisk in real estate,

as a rule quiet.

is

Lard on the spot has ruled quiet at firm quotations. Offerings have been light and the generally strong tone of the
future market at the West has naturally tended to impart
Small sales have been
a firmer tone to the cash market.
made of late at 8.90@8.95c. for prime Western and 8^c.
for City.
Refined lard has been dull and firm. There have
been fair deliveries on old contracts. Refined Continent
9.40c., South American 9.75c. and Brazil in kegs 10.75c.
The speculation in lard futures at the West has been broad
and active. Early in the week prices advanced, owing to
Packers
light receipts of live hogs and general buying.
bought and commission houses were prominent in the buying. Of late there has been some reaction, owing to the usual
In the
realizing and some increase in the receipts of hogs.
main, however, the tone of the market continues firm.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAQO.
Sat.

Man.

8.80

8.92}^

September delivery. 8. 95

9.07M

October delivery. . .8.87

9.02 1^

July delivery.

Tues.
8.85
9.00
9.00

Wed.

Thurs.

Fri.

8.8234
8.97"^
8.9734

8.77M

8.85
9.00
9.00

8.95
8.95

Pork on the spot has been in light demand, with quotations
generally firm in sympathy with the rest of the provision list
and also because of the smallness of offerings and the strength
Mess is quoted at $17@$17 50 for old
of the corn market.

and $18@$18 75 for new, clear $16 25@$18 75 and family
$18@$19. Cut meats have been more active at firm prices.
Pickled shoulders are quoted at 83^c., pickled hams 113^@
Beef has
12c. and pickled bellies, 14@10 lbs., 10^@11 i^c.
been dull and steady for the general list, though extra India
me-ss has declined; mess $8@$8 50, flank $8 50, packet $9 50
@$10, family $11 50@$12 and extra India mess $15@$16.
Tallow has been quiet and easier at 4j^@5c. for City. Stearines have been quiet and steady; oleo 9@93-^c. and lard 10c.
Cotton-seed oil has been quiet and steady; prime summer
Butter
yellow 373^@38c. and prime winter yellow 41c.
has been in fair demand and steady; Western extras 20@
Cheese has been quiet and easy; State factory lOJ^c
20J^c.
easier on large receipts; Western firsts 17c.
Brazil grades of coffee have been dull but firmer at
7Mc. for Rio No. 7 and 85^c. for Santos No. 4. West India
growths have been quiet and steady; fair to good Cucuta
8^@93>^c. The market for future contracts has been dull
and featureless with prices irregular. Early in the week
some improvement took place, owing to firmer cables from
Havre and Hamburg, lighter receipts than expected and covOf late, however, the market has shown a
ering of shorts.
tendency to seek a lower level under renewed liquidation and
the dulne-ss of speculation.
The closing prices were as follows:
6.60c
6.05c. October
6.25c. February
June

Eggs have been

7^@

I

July

Raw

6.10c. November
6.15c. December
6.20c. [January
I

August
September

1

6.35c. March
6.45c. April
6.50c. May

6.70c.
6.75c.
6.85c.

sugar has been fairly active with quotations gener-

becoming identified with the Altheimer & Rawlings Invest- ally firm. Centrifugal, 96-degrees test, is quoted at 3.48@
ment Company. Although Mr. March is to succeed Edward 3.52c.; muscovado, 89 test, at 2.98@3.02c., and molasses,
H. Rawlins as a member of the St. Louis corporation, he 89 test, at 2 23-32 @ 2 ^c. Refined sugar has been in good
will continue to maintain his connection with Messrs. Laden- demand and firmer; granulated 4.60c.
Spices have been
burg, Thalmann & Co.
Teas have
generally firm, with a brisk jobbing demand.
In one of its recent publication;? a booklet of high-class been quiet and steady. A moderate distributing business
type as to design and typography— the LTnited States Mort- has been done but new transactions have been small, especgage & Trust Company of this city describes the general ially in new-crop Japans, buyers and sellers being still apart.
Kentucky tobacco has been quiet and firm. Crop reports
Excellent illustrations of the
business operated by it.
company's handsome banking rooms at 55 Cedar, and several state that 80% of the burley crop has been planted, which
Beneficial rains
is somewhat less than at this time last year.
views of its West End Branch, adorn the book.
have fallen and latest reports from all sections indicate that
The French Finance Corporation of America has denew crop has been
clared a dividend of 5% upon the preferred capital stock of favorable progress in transplanting the
Sumatra has been fairly active and firm.
the company, payable on June 15 1906 to all preferred stock- made as a rule.
Havana has been quiet and steady.
holders of record at the close of business on June 14 1906.
Refined petroleum has been fairly active and steady;
Clark, Dodge & Co. of this city will occupy, after alteraNaphtha has
barrels 7.80c., cases 10.30c. and bulk 4.70c.
tions are completed, practically the entire ground floor of
been fairly active and firm; 71 degrees in 100-gallon drums
No. 49 Wall Street. This includes the banking rooms re- 13c. Spirits of turpentine has been quiet and steady at
cently vacated by the Phenix National Bank.
Rosin has been quiet and easy at $4.
61c.
Lawrence Barnum & Co., bankers, New York, Boston
Copper has been fairly active and steady; lake 18^ @
and Philadelphia, are offering in their June circular municipal, 18^c., electrolytic 18J4@185^c. Lead has been firmer at
railroad and corporation bonds yielding from 3.40 to 6% 5.95@6c.
Spelter has been fairly active and firmer at
on the investment.
6.15@6i4c. Tin has declined to 38^c. for Straits. Iron
E. H. Rollins & Sons offer $75,000 of Chicago South has been .steady; No. 1 Northern $18 50@$19, No. 2 SouthPark 4% bonds at pricesto yield 3.85%. See advertisement. ern $17 50@$18.
iJ

—

—

—

—

—

—

-

-

June

c
.

.

.

.

.

THE CHRONICLE.

16 1906.J

COTTON.

1385
Oh Shipboard, Not

Great

Friday Night, June 15 1906.
THE MOVEMENT OF THE CROP as indicated by our
For
telegrams from the South to-night is given below.
the week ending this evening the total receipts have reached
29,858 bales, against 56,264 bales last week and 77,786
bales the previous week, making the total receipts since
the 1st of September 1905 7,513,118 bales, against 9,266,336
bales for the same period of 1904-05, showing a decrease
since Sept. 1 1905 of 1,753,218 bales.
Receipts at

—

Mon.

Sat.

Galveston

855

1,685

Wed.

Tues.

ThuTs.

1,127

1.090

Fri.

7.928

375

375

-

49

746
75

2,385
125

491

872

1,135

13

948

986
908

890

55

507
1,946
89

6,446
1,306
23
5,358
1,946
511
5
1,435

736

236

143
23
1,872

301

48

5

26

276

236

34

225

639

828

Savannah

877

711

502

355

276

6

Brunswick
Charleston
Georget'n, &cWilniington _-

5

- -

-

Washingt'n &c
Norfolk
N'port N., &C-

3,549
188

188

New York

-

50

7

104

38

.

120

50

32

5

wk-

4.685

4.242

5,169

3.412

Boston
Baltimore

97

21

313
247
228

6.874

29,858

17

247

Philadelphia
Totals this

The following shows the week's
1 1905, and the stocks

since Sept.
last year:

Since Sep
1 1905.

This
week.

Galveston
Pt. Arthur, &CNew Orleans -Mobile
Pensacola. &C-

Wilmington

7,928 2,489,851
375
149,015
6,446 1,584,503
236,492
1,306
23
161,682
5,358 1,438,487
1,946
184,388
511
169,056
5
1,222
1,435
317,488

Washing'tn, &c
Norfolk
N'port N., Ac-

3,549
188

Savannah
Brunswick
Charleston
Georget'n, &c-

New York

61 '9,054

21,674
6,575
61,400
63,799
8,432

'313

Boston
Baltimore

247
228

Philadelphia --

29,858 7,513,118

Totals

5.476

total receipts, the total
to-night, compared with

1904-05.

1905-06.
Receipts to
June 15.

Stock.

Since Sep
1 1904.

This
week.

1906.

21,689 2,596,108
284,449
3,048
19,732 2,533,039
307,196
1,712
5,164
192,462
11,579 1,688,207
192,366
1,988
979 211,412
l',466

6,771
1.648
43
733
1,986
8

'7'5',288

95,716
l'o'3";326

7,404
'4'5',697

17.142
'

8,758
5,967

897
352,927
122
704,831
24,179
32.009
74,383
59,037
12,712

78,546 9,266,236

1905.

38,878

'

4,393

"2'3',5i6

'

7,948
8,997
3,271

9,609

'2'7'.754

5,496
3,388
3,556

124
140,517
3,611
4,262
2,480

370,483

424,748

14'8",748

In order that comparison may be made with other years,
give below the totals at leading ports for six seasons:

we

1906.

Receipts at

Galv'n, &CN. OrleansMobile

Savannah

1901.

24,737
19,732
1,712
11,573
979

2,192
6,251

5,369
8,719

2,243
7,024

7

42
889

41

1,466
6,771
1,648

21

766

2
1,064

9,922

857

1,655

2,105

29,858

78,546

13,504

17,772

18,648

.

Wilm'n, &c.
Norfolk
N'p't,N.,&c
All others.

Tot.this wk.
1

1902.

1903.

8,303
6,446
1,306
5,358
516
1,435
3,549
188
2,757

Ch'ston,&c.

Since Sep.

1904.

1905.

3,093
317

5,376
113

15,702
21,672
282
3,774
1,111

805

212
3,714

941

32
'

'3,503

50,060

7,513,118 9,266,336 7,022,618 7,563,574 7,347,955 7,264,527

New

Orleans
Galveston _.

8,972
3,043

—

Savannah

Charleston
Mobile
Norfolk

The exports for the week ending this evening reach
a total of 107,737 bales, of which 39,112 were to Great Britain,
18,748 to France, and 49,877 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1905.
to

IS
—

1906.

From

Total.

Great
Britain. France

Sept.

many. Foreign

4,639

1,200
4,340

Leaving

Coastwise.

Total.

358

11,798
3,336

700
400
430
14,025

400

5, .567

200

3,924
9,485
143,248
20,391

17,334
14.282
6,183

18,827 74,855
22.440 116,143
3.731 38,969

295,628
308,605
189,026

1,150

50

'266

1,866
2,000

2.000

Other ports,

1,566
3,000

Total 1906
Total 1905
Total 1904

18,365
48,039
11,482

10,939
11,798

9,390
19,584

,002

6,571

_

1 1

48,321
25,245
39,447

3,480
14,025
5,500
5,200

.

1,850

New York

stock

26,967
13,633
5,650

2,914

4,956

The speculation in cotton for future delivery has been less
active, but prices for several reasons have, on the whole, advanced, though more or less irregularity has been noticeable.
The dominating features have included the bullish manipulation of the July option in New Orleans, which had noticeable effect here, similar tactics for a time in this market,
excessive rains in Georgia and other heavy precipitations
elsewhf re in the Eastern belt giving rise to fears that grassy
fields might make any scarcity of labor severely felt. Finally
the continued dry, hot weather in Texas has had no little
For three or four days the maximum temperatures
effect.
were officially reported as 98 to 107 degrees, and though
during the past three days the temperatures have been
much lower, the dry weather has continued. The official
reports have reported moderate rains on a single day; otherwise none, or merely a trace here and there. This fact ig
beginning to attract considerable attention, though the
trade do not believe that any serious damage has been done
The weekly Government report was considered
as yet.
Many of the private crop reports
in the main favorable.
from various parts of the belt have taken a very cheerful
view of the conditions and the outlook. The July option
has at times shown a good deal of irregularity, and there are
some fears that there may be Irrge tenders of low grades here
on July notices of delivery which will .soon be due. The
spot markets, however, have on the whole exhibited a good
deal of steadiness, and to this and the drought in Southern
Texas no little significance is attached. The "spot" sales in
Liverpool, which for a time fell off noticeably, have during
the last three days shown a considerable increase, though the
extraordinary activity which was for so long a period a
leading feature of the general cotton situation; has not been
resumed. To-day prices gave way under heavy selling of
October and December, which was commonly attributed to
some prominent bull interests. There was no rain in
Southern Texas and none was predicted.
Spot cotton advanced 5 points early in the week but
afterward lost the rise. In the fore part of the week there
was a fair business for home con.sumption, but latterly there
has been but a light trade, until to-day, when the busine.ss
Rumors were rife of
for home con-sumption increased.
Middling upland is
larger sales not officially reported.
quoted at 11.20c.
On the basis of the rates on and off middling as established
by the Revision Committee, the prices for a few of the
grades would be as follows:

UPLANDS.

Sat.

Middling
Middling
Good Middling
Middling Fair

1 1905 to June 15 1906.
Exported to

—

Tues.

Wed.

Thurs.

10.25
10.87
11.25
11.69
12.21

10.25
10.87
11.25
11.69
12.21

10.20
10.82
11.20
11.64
12.16

10.20
10.82
11.20
11.64
12.16

10.20
10.82
11.20
11.64
12.16

10.45
11.07
11.45
11.89
12.41

Low

Men.

10.20
10.82
11.20
11.64
12.16

Good Ordinary

10.50
11.12
11.50
11.94
12.46

10.50
11.12
11.55
11.94
12.46

10.45
11.07
11.45
11.89
12.41

10.45
11.07
11.45
11.89
12.41

10.45
11.07
11.45
11.89
12.41

9.70
10.70
10.86
11.20

9.75
10.75

9.75
10.75
10.91
11.25

9.70
10.70
10.86
11.20

9.70
10.70
10.86
11.20

10.70
10.86
11.20

Fri,

GULF.

Good On inary
Middling
Middling
Good Middling
Middling Fair

STAINED.
Low Middling
Middling

Exported

Other

Ger-

Britain. France

Low

Week ending June

—

Total.

2,072

1,099

Pt. Arthur, Ac.

New Orleans -Mobile
Pensacola, &c-

Cleared for

June 15 at—

Strict

Good

Low

Mid. Tinged
Middling Tinged _

10.91

11.25

9.70

Exports

Jrom —

Great

ContiBritain. Fr'nce nent.

Galveston
Pt. Arthur, &c.
New Orleans.
Mobile
Pensacola
•Savannah

Brunswick

13, son

11.390
14.379
4.369

11.691
7,088

14.300

.

24.896
26.076
11,457
14,.300

5,691

5,091

1.3,874

13,874
1,430

Charleston

Wilmington...
Norfolk

_

Newport News
New York
Boston
Baltimore
Philadelphia..

1.436

2.066
1.069
1,470

3,590

6,656

1069
1.186

—

2,656

74.r.74

_ _

_-_

34,300
1.218

_

Seattle

620
--

_ _

Pembina
Total

620

12

Tacoma

12

282,102
226,,305
.39,140

37.043
63,859

I0.'i,285

5.500
139,595
10,461
6,353
161.822
134.629

Portland, Me..
San Francisco.
Portland, Ore.

996.838
46,SV5
717.812
52,760
70.527
190.9(«

5.225
9.000
23.181
13,424

Continent
.

T<lal.

741.2,50 2.020,196

in, 075
66,200
509.594 1,4.53,771
KiS.llO
43,21!)
157.502
49,332
646,847 901,669
14(1, r,S4
37,399
9,SI00
4,400
163,663 30,S.4S3
22.638
3,177
225
6,578
262.575 437, .578
144.141
9,512
1.39..385
51,287
37,071
2,765
1,218
37,786
.37,786
51,420
51,420
12,005
12,005
4.798
4,798
4.959
4,959

39,112 18,748

Total 1904-05-

49.877 107,737 2,747,618 699,939 2,692,4196,1.39,976

57,343 10.234

63,562 121,139 3,738,464 773,039 3,460,0517,961,554

The quotations for middling upland at New York on
June 15 for each of the past 32 years have been as follows:
1906. .11.20
1905.. - 9.10
1904.. .12 10
1903.. -12.60
1902- . 9 7-16
1901.. - 8H
1900.. . 9 1-16
1899.. - 6 5-16

New

York.

6 9-16
7 11-16
7 11-16
7 3-16
7 5-16
8 1-16
73^
814

1890- CA2H
1889- ..11^
1888- .-10,^
1887. -AlH
1886. -. 9 3-16
1885- -109-16
1884- -.11 9-16
1883- --10 9-16

MARKET AND

SALES.
Sales of Spot

Closed.

Closed.

ConExporl sum'n

Very steady.
Monday
Quiet, 5 pts. adv Steady
Steady
Tuesday
Quiet & Steady
Wednesday Quiet. 5 pts. dec- Steady
Thursday - Quiet .Very steady.
Friday
Steady
Quiet

Saturday-

Total

. . -

1882- C.12 3-16
1881. -.11 1-lS
1880. ..12
1879. --V2H
1878. --IIH
1877. --11M
1876- --12H
1875- -.15?^

Futures
Market

Spot Market

_

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the porta named.
We add similar figures for

1898-C.
1897--.
1896--1895--.
1894--.
1893...
1892.-1891.-.

Quiet

.

500

68
1,315

Contract

.

800

1,100

and Contract.

200

300

35

Total.

1.300
1.468
1,615

100
1.800

35
100

2,665

200

2,865

4.883

600

7,283

THE CHRONICLE.

1386
FUTURES. — High, low and closing

prices ut

New

[Vol. lxxxil

TOWNS

THE

the movement— that is,
AT
INTERIOR
the reccijjts for tlie 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

York:

—

below.

in detail

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to
I—

00

THE VISIBLE SUPPLY OF COTTON

to-night, as made
as follows.
Foreign stocks, as
well as the afloat, are this week's returns, and consequently
all foreign figures are brought down to Thursday evening.
But to make the total the complete figures for to-night
(Friday), we add the item of exports from the United States,
including in it the exports of Friday only.

up by cable and telegraph,

June

15—

1906.

55,000

538,000
10,000
43,000

575,000
11,000
54,000

—

433,000

.

American afloat
U.S. Port stock

87,000
375,000
24,000
150,000
924,000
424,748
250,895
28,661

for

693,000
60,000
372,000
253,044
370,483
229,409

Total American
East Indian, Brazil, &c.
Liverpool stock

—

Londonstock
Manchester stock
Continental stock
India afloat for Europe

Egvpt, Brazil. &c., afloat
Stock in Alexandria, Egypt...
Stock in Bombav, India

1

737,000
44,000
502,000
375,000
424.748
250.895

12,535

Europe

U.S. interior stocks
U.S. exports to-day

464,000

480,000

146,000
73,000
25,000
126,000
503,000
227,995
129.899
17,214

151,000
88,000
18,000
38,000
699,000
255,668
55,430
4,092

28,661

410 000
36 000
350 000
73 000
227 995
129 899
17 214

476.000
48,000
392,000
88,000
255 ,668
55,430
4,092

,990,471 2,362,304 1,244,108 1,319,190

115,000
16,000
10,000
61,000
221,000
18,000
87,000
933,000

COrfkj

—

CO<i

>&.

en

-32

P -^ Cn H- 00 - 05 <l

^toCn~JOO*.tOls5eoo>OCOpenN5p^t-*.tOCntOPOOCOPO>0>05p4^
PO-apCnh^^COi— 0^rf»^tDO~J^OCn>^h--^OCO*.tOCOi— ototo^^^J
ococn*.poooeocoh;^pcDp>— co-aooit'^JCnK— totooooototocn*.en^,f^
Cn»^

The above totals show that the interior stocks have decreased during the week 19,950 bales, and are to-night 21,486
bales less than at the same period last year.
The receipts
at all the towns have been 33,006 bales less than the same
week last year.

Q

movement

74,000
13,000
11,000
32,000
87,000
24.000
150,000
924,000

12S.000
10,000
7.000
114,000
146.000
25,000
126,000
503,000

99,000
1 1

,000

6,000
88,000
151,000
18,000
38,000
699 ,000

June 15.

1904-05

Since

—

Since

Week.

Sept. I.

Week.

Sept. 1.

4,315

Shipped
Via St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via other routes &c

463,236
198,453
43,842
98 ,620
56,300
247 ,672

8,155
3,317

598,239
320,638
50,307
96,214
55,562
321,561

424
314
980
848
2 ,498

,

317
1,301
481
7,642

Total gro.ss overland
9,379 1,108,123
Deduct shipments
Overland to N. Y., Boston, &c.
788
140,206
Between interior towns
103
19,534
Inland, &c., from South
54,206
3,395

21,213 1,442,521

—

Total to be deducted

4,286

movement by

a Including

rail

620
3.576

894,177

to

178,141
31,030
54,247

263,418

2,770
186

213,946

5,093

Leaving total net overland.a

17,637 1,179.103

Canada.

the week's net overland movement
has been 5,093 bales, against 17,637 bales for the week last
year, and that for the season to date the aggregate net overland exhibits a decrease from a year ago of 284,926 bales.

The foregoing

sliow's

-1905-06Since
Sept.l.
29,858 7,513,118
5,093
894,177
Southernconsumption to June 15 45,000 1,852,000
In Sight and Spinners'
TakinQs.
Receipts at ports to June 15
Net overland to June 15

Week.

Total marketed
Total East India, &c
Total American

to

1905-06
534,000

—

bales.

H'totOi-'

I--

give below a .statement showing
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 two years
are as follows:

3,451,471 3,677.304 2,303 108 1,429,190
Total visible supply
Of the above, totals of American and other descrii)tioiis are as follows:

Liverpool stock
Manchester stock
Continental stock

to

OVERLAND MOVEMENT FOR THEIWEEK AND

,327 ,000 1,413,000 1 ,055,000 1,120,000

221,000
253,044
18,000
87,000
933,000
370,483
229 ,409
12,535

I--*.

00

oo!en^enoo,^~aoo^H-enf-oocD050ooo^toto'.ooncoo^toooo*^toi

the overland

Total European stocks
1
India cotton afloat for Europe.
Amer. cotton afloat for Europe.
Egypt, Brazil, &c., aflt. for E'pe
Stock in Alexandria, Egypt . .
Stock in Bombay, India
Stock in U.S. ports
Stock in U S interior towns . .
U.S. exports to-day

American

00

SINCE SEPT. 1.— We

118,000
4,000
13,000
52,000
7,000

Total Continental stocks

.

1903.

13 ,000

894,000
14,000
225,000

Total Great Britain stock..at Hamburg
at Bremen
at Antwerp
at Havre
at Marseilles...
at Barcelona
at Genoa
at Trieste

1904.

811,000

70,000

bales.

1905.

808,000
16 ,000

Stock at Liverpool
Stock at London
Stock at Manchester
Stock
Stock
Stock
Stock
Stock
Stock
Stock
Stock

is

to

w

bototn'^i
t0 50"tOto"^tOP>C'VotO>-'"tOi-'">-'H-CO--l">-'P
Cnhf-COCOM^k-^^enpto^Cni— to coocnoo*.*>!35«DO^OCnCO^O>t'tO'
tobs

1,461,000 1,315.000 1,0.59,000 1,110.000
1.990,471 2,362,304 1,244,108 1.319,190

into

.sight

9,266,336
1,179,103
1,756,000

79.951 10,259,295 140.183 12,201,439
94,232 a21,814
189,235

Total insight June 15

Came

SiTice
Seiit. 1.

78,546
17,637
44,000

al9,950

Interior stocks in excess

Total visible supply
3,451,471 3,677,304 2,303,108 2,429,190
Middling Upland, Liverpool.
6.07d.
4.83d.
6.38(1.
6.78d.
11.70c.
11.20c.
9.15c.
Middling Upland, New York
12.40c.
7^d. 7 ll-16d. 10 15-16d
Egypt, Good Brown, Liverpool
llJ^d.
10.80d.
Peruv. Rough Good, IJverpool
8.65d.
10.50d.
8.75d.
Broach, Fine, Liverpool
6d
6Kd.
6Hd. 4 9-16d.
Tinuevelly, Good, Liverpool.
5 9-16d.
554<1.
5 9-16d.
4H(1.
Continental imports past week have been S7,0()0 bales
The above figures for 1906 show a decrease from last week
f 147,798 bales, a loss of 225,833 bales from
1905 and
n excess of 1,148,363 bales over 1904.

-1904-05-

Weck.

during week.. 60,001

118,369

12.390.674

10,353.527

North.spin's'takingsto June 15- 21,977

2,213,843

14.491

2,131,580

a Decrease during week.

Movement
Week

1904— June
1903— June
1902— June
1901— June

into sight in previous years:
Bales

17
19

20
21

.

48,842
40,241
45 ,900
60,722

Since Sept.

1

1903-04—June 17
1902-03— June 19
1901-02—June 20
1900-01— June 21

Bales.

9,746,155
10,368,096
9,993,228
9,904,686

,

June

THE CHRONICLE.

16 1906.]

1387

Palestine, Texas. — We have had no
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS. — Below are the closing quotations of middling The thermometer has averaged 78, the

cotton at Southern and other principal cotton markets for
each day of the week:

Monday. Tuesday. Wed'day. Thursd'y. Friday

Sat'day.

11%
11%

nv*

11%
11%
10%
10%
lOM
lOM
11%

10%
10^
lOH
11%

10%
10%
10%
11%

11.25

11.25

11.20

11.20

11%

11%

11%

11%

11.50

llM

11.45
11 3-16

11.45
11 3-16

11.45
11 3-16

11
11
11 1-16

11
11
11 1-16

11
11 1-16
11 1-16

11
11 1-16
11 1-16

11
11 1-16
11 1-16

10%

10%

10?^

10%

10%

Galveston
New Orleans. 10 15-16 \lVi
Mobile
10 13-16 10 13-16
Savannah
lOJ^
lOJ^
Charleston
lOM
10?i
Wilmington -- 10 13-16 10^
Norfolk
nVs
nVs
Boston
11.20
11.20
Baltimore
nVs
Philadelphia . 11.45
11.50
11 3-16
Augusta
nVs

UH

Memphis

11
11

St. Louis

Houston
11
Little Rock-- 10%

11^
IIJ^
lOJ^
10 15-16

lOH
lOVs

11%
11%

10 13-16 10 13-16

closing quotations to-day (Friday) at other important
Southern markets were as follows:
Natchez
10 15-16
11%
Atlanta
11 1-16 Louisville
(Raleigh
Montgomery- - 1 0%
Columbus, Ga.10%
10%
IShreveport ...ll 1-16
11
Nashville
Columbus, Miss. 10%

The

I

I

I

I

NEW ORLEANS OPTION MARKET.— The

highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:

Monday, Tuesday, Wed'day Thursd'y, Friday,
June 11, June 12. June 13. June 14. June 15.

Sat'day.

June

—
Closing
July —
Range
Closing
October —
June

—

Range

((?,—

—

@,

10.80-.90 11.05

— — — — — — @, — ~ —
— 11.00 — 10.95 — 10.98 — OO —
(51,

(a\

(ff,

11.

10. 94-. 07 11. 07-. 30 11.19-.33 11. 02-. 19 10.98-. 20 11. 07-. 23
11. 04-. 05 11. 25-. 26 11. 20-. 21 11. 06-. 07 11. 18-. 19 11. 10-. 11

Range

10.30-.37 10. 35-. 42 10.3510.35-.36 10. 41-. 42 10.35-

Closing

December —

Range

10.26-.34 10.22-.35 10. 26-. 36
10.26-. 27 10.34-.35 10. 27-. 28

10.33-. 40 10.38-. 47 10.38-.46 10.29-.37 10.25-.38 10.29-.39
10.38-. 40 10. 44-. 45 10.38-.39 10.30-. 31 10.37-.38 10.31-.32

Closing

January —
Range
Closing
Tone —
Spot
Options

9.

—

—

(3>
10. 50-. 52 10. 50-. 53 10.40-.44 10.33-. 39 10. 37-. 45
10. 45-. 47 10. 50-. 52 10. 45-. 46 10.36-.38 10. 43-. 45 10.37-.38

.

-

Steady.
Steady.

Steady.
Steady.

Setady.
Steady.

Easy.
Steady.

Quiet.

Quiet.

Steady.

Steady.

WEATHER REPORTS BY TELEGRAPH.— Our

tele-

graphic reports from the South this evening indicate that
over most of the belt weather has been favorable the past
week. Rain has fallen in many sections where needed but
in some districts of Texas and in a few localities elsewhere
rain is claimed to be needed.
On the whole our advices
denote that the cotton crop is doing well. Boll-weevils are
reported to be becoming numerous in Texas.
Galveston, Texas.
Droughty condition and damage therefrom is reported from some localities. Complaints of bollweevils are becoming numerous.
There has been a trace of
rain on one day during the week.
The thermometer has
ranged from 72 to 95, averaging 84.
Abilene, Texas.
It has been dry all the week.
Average
thermometer 77, highest 94, lowest 60.
Brenham, Texas. We have had rain on one day during
the week, to the extent of five hundredths of an inch. The
thermometer has averaged 81, the highest being 96 and the
lowest 65.
Corpus Christi, Texas. There has been rain on one day
during the week, the rainfall reaching forty hundredths of
an inch. The thermometer has averaged 82, ranging from
68 to 96.
Cuero, Texas.
There has been rain on one day during the
week, the rainlall reaching thirty-one hundredths of an inch.
The thermometer has ranged from 67 to 102, averaging 85.
Dallas, Texas.
There has been no rain during the Aveek.
Average thermometer 79, highest 99, lowest 59.
Fort Worth, Texas.
We have had only a trace of rain on
one day of the week. The thermometer has averaged 78,
the highest being 96 and the lowest 60.
Henrietta, Texas.
There has been no rain during the week.
Thermometer has averaged 75, ranging from 51 to 98.
Huntsville, Texas.- There has been no rain during the
week. The thermometer has ranged from 62 to 96, averaging 79.
Kerrville, Texas.
There has been rain on one day of the
week, the precipitation reaching six hundredths of an inch.
Average thermometer 79, highest 97 and lowest 60.
Lampasas, Texas. We have had no rain during the week.
The thermometer has averaged 78, the highest being 99 and
the lowest 56.
Longview, Texas.
We have had no rain during the week.
The thermometer has averaged 80, ranging from 63 to 97.
Lulinq, Texas.
There has been rain on one day during the
week, the rainfall reaching fourteen hundredths of an inch.
The thermometer has ranged from 65 to 101, averaging 83.
Nacogdoches, Texas. There has been a trace of rain on one
day of the week. Aveiage thermometer 77, highest 93 and
lowest 61.

—

—
—

—

—

—

—

—

—

—

—

—

—

—

the lowest 64.
Paris, Texas.
We have had no rain the past week. The
thermometer has averaged 81, ranging from 65 to 96.
San Antonio, Texas. There has been rain on one day during the week, the rainfall reaching twenty-four hundredths
The thermometer has ranged from 66 to 102,
of an inch.
averaging 84.
Weatherford, Texas.
It has been dry all the week.
Average thermometer 78, highest 98, lowest 58.
New Orleans, Louisiana. We have had rain on one day
during the week, the precipitation reaching one inch and ten
hundredths. The thermometer has averaged 83.
Shreveport, Louisiana.
There has been only a trace of
rain the past week.
Thermometer has averaged 79, ranging
from 64 to 94.
Columbus, Mississippi. The weather continues good and
the growing plant is progressing very satisfactorily.
Fields
Rain is not needed for ten days yet, but light
are clean.

—

—

Closing Quotations for Middling Cotton on-

Week ending
June 15.

rain the past week.
highest being 92 and

—

—

—

—

showers would do no damage.
Vicksburg, Mississippi.
Favorable week but rain is
needed in some places. There has been rain on two days
during the week, the rainfall reaching four hundredths of an
The thermometer has averaged 79, ranging from 64
inch.

—

to 94.

Meridian,
cellent.

Mississippi.

— Crop

conditions

We have had good rains on two

—

continue exdays of the week.

Nights have been rather cool for cotHelena, Arkansas.
ton but crops are reported in good condition. It has rained
on one day of the Aveek, the precipitation reaching eight hundredths of an inch. The thermometer has ranged from
60 to 91, averaging 74.8.
Memphis, Tennessee. The crop continues to make good
First bloom was received on the 13th from
progress.
Bolivar County, Mississippi, one day earlier than last year.
Dry all the week. The thermometer has averaged 75.9, the
highest being 91.1 and the lowest 60.
Excessive rains were reported from
Mobile, Alabama.
some sections in the interior latter part of week. Cotton is
growing rapidly, reports being very favorable. First bloom
Boll-weevil
this season June 7, against May 31 last year.
reported in Clarke County, Ala.
We have had rain on four
days of the past week, to the extent of seventy-three hundredths of an inch. The thermometer has ranged from
71 to 93, averaging 80.
Montgomery, Alabama. Conditions are generally favoraTimely rains this week. There has been rain on three
ble.
days during the week, to the extent of ninety-nine hundredths of an inch. Average thermometer 78, highest 94,
lowest 66.
Selma, Alabama. Cotton is doing well but there are some
We have had rain on three days of
complaints of grass.
the week, the rainfall reaching two inches and thirty-four
hundredths. The thermometer has averaged 85, the highest
being 95 and the lowest 77.
Madison, Florida. We have had rain on three days durThe thermometer
ing the week, to the extent of two inches.
has averaged 80, ranging from 70 to 90.
Savannah, Georgia. There has been rain on five days of
the week, the precipitation reaching two inches and fortyAverage thermometer 78, highest 91
eight hundredths.
and lowest 66.
Augusta, Georgia. Too much rain. If continued it will
Warm, dry weather needed.
cause considerable damage.
We have had rain on three days during the week, the rainfall
reaching three inches and seven hundredths. The thermometer has ranged from 65 to 98, averaging 77.
We have had rain on five days
Charleston, South Carolina.
of the past week, the rainfall being one inch and eighty-six
hundredths. The thermometer has averaged 78, ranging
from 68 to 88.
We have had rain on two days
Greenwood, South Carolina.
during the week, the precipitation reaching two inches and
fifty-two hundredths.
The thermometer has ranged from
65 to 85, averaging 75.
Some damage from flooding
Stateburg, South Carolina.
and washing. We have had heavy rain on three days the
past week, the precipitation being four inches and eightytwo hundredths. Average thermometer 76, highest 94 and
lowest 62.
Sunshine is needed; the weather
Charlotte, North Carolina.
has been cloudy most of the week. There has been rain,
The
the rainfall being one inch and ninety hundredths.
thermometer has averaged 71, the highest being 96 and the
lowest 58.
The following statement we have also received by telegraph, showing the height of rivers at the points named,
at 8 a. m. of the dates given:

—

—

—

—

—

—

—

—

—

—

—

June 15 1906.

New

Orleans

Memi)hi.s
Nashville

Shreveport
Vicksburg

Above zero
Above zero
Above zero
Above zero
Above zero

of
of
of
of
of

gauge.
gauge.
gauge.
gauge.
gauge.

June 16 1905.

Feet
8.5
15.2
8 .0
13.3
23.2

Feet.

15.2
14.7
7 .9
31.4
36.5

JUTE BUTTS. BAGGING, <!tc.— There has been little
doing in the market for jute bagging during tlie week under
review, and prices are unchanged at 85^c. for 1^ lbs. and
S^c. for 2 lbs., standard grades. Jute butts continue dull
at 3@4c. for bagging quality.

TRFt CHRONICLE.

1388

WORLD'S SUPPLY AND TAKINGS OF COTTON.—
following brief but comprehensive statement indicates
at a glance tlie world's suj)ply of cotton for the week and
since Sept. 1, for the last two season.s, from all sources from
which statistics are obtainable; also the takings, or amount
gone out of sight, for the like periods.

The

V'i3il)le

Week.

supply June 8

'60,66l'

24.000
18,000
400
13,000

3.768,279
l','r23',887

10,353.527
2,462,000
292,000
782,400
424,000

118,369 12,390,674
57,000 2,451,000
L'3i.000
14,000
X24,000
2,000
150,000
4,000

—

Deduct
Visible supply June 15
Total takings to June 15

286,344 13,494,257
196,344 10,504,257
90.000 2,990,000

263,199 13,407,926
214,799 10,001,626
48.400 3,406,400

Of which American
Of which other .

3,677.304

3,451,471 3,677.304

3,451,471

a Embraces receipts in Europe from Brazil, Smyrna. West Indies, &c.

EUROPEAN COTTON CONSUMPTION TO JUNE 1.—
By

we have Mr.

brought
down to June 1. We give also revised totals for last year
that comparison may be made. The spinners' takings in
actual bales and pounds have been as follows:
cable to-day

Oct. 1 to

June

Ellison's cotton figures

Great Britain.

1.

Continent

Total.

For 1905>06.
6,846,000
bales
2,873,000
3,973,000
Takings by spinners
497
481
487.7
Average weight of bales, -lbs.
.
in pounds
1,427,681,000 1,911,013,000 3,338,694,000
Takings

For 1904-05.
4,021,000
6,753,000
2,732,000
Takings by spinners.. .bales
510
491
498.7
Average weight of bales.. lbs.
1,393,320,000 1,974,311.000 3,367,631,000
Takings in pounds

According to the above, the average weight of the delivGreat Britain is 497 pounds per bale this season,
The
against 510 pounds during the same time last season.
Continental dehveries average 481 pounds, against 491
pounds last year, and for the whole of Europe the deliveries
average 487.7 pounds per bale, against 498.7 pounds last
eries in

Our dispatch also gives the full movement for this
year and last year in bales of 500 pounds. J ««•;)

season.

1905-06.

June
500 lbs.

Oct. 1 to

ContiBrit'n. nent.

Total.

ContiBrit'n. nent.

877

Total.

2,855

Spinners' stock Oct.

Takings to June

Great

Great

621
3,822

6,677

57
2,786

315
3,949

6,735

3,111
2,590

4,443
3,465

7,554
6,055

2,843
2,468

4,264
3,465

7,107
5,933

521

978

1.499

375

799

1,174

256

1

1

Supply .Consumption, 35 weeks
Spinners' stock June

1

This week
Since Sept.

To
To
To
To

74
74
74
74
74
74
74
74

99
99
99
99
99
99
99
99

173
173
173
173
173
173
173
173

Since

Week.

Bombay

Exports from

1904-05.

1905-06.

—

Week.

Sept. 1.

For
Great
Britain.

the

Week

Continent.

Since
Sept. 1.

57,000 2,451,000

24,000 2.462,000

—

372

68
68
68
72
72
72
72
72

99
99
99
99
99
99
99
99

167
167
167
171
171
171
171
171

1903-04.

Since

Week.

Sept. 1.

31 ,000 2,021,000

Since September
Great

Total.

Conti-

Britain.

nent.

1

Total.

Bombay
1905-06
1904-05
1903-04
Calcutta
1905-06
1904-05
1903-04

3.000

3,000
3,000
1,000

26,000
5,000
1,000

64,000
19,000
92,000

786,000
313,000
836,000

840,000
332,000
928,000

3,000
3,000
1,000

5.000
2,000
3,000

100,000
31,000
37,000

105 000
33,000
40,000

1,000

23,000
5,000

i",5oo

3,000
3,000
10,000

36,000
13,000
30,000

[39,000
16,000
40,000

15,000
8,000
12,000

133,000
175,000
226,000

148,000
183,000
238,000

Madras
1905-06
1904-05
1903-04..

1,000
i',56o

i",666

2",o66

14 000

566

14,000
11,000
15,000

Total all—
1905-061904-05
1903-04

3",

A

cantar

98

is

4,000
5",

556

200

This
Since
week. Sept. 1.

This
week

Since
Sept. 1.

3,500 206,687
143,402
8,666 294,740
600 67,747

2,760 223,188
131,843
2'
666 325,880
500 49,435

3,600 733,026 12,100 712,576

5,250 730,346

-

2J56

308,7441

100

Total exports
a

;

750 192,687
163.849

Manchester .
Continent ...
America

67, 736

lbs

This statement shows that the receipts for the week were
1,600 cantars and the foreign shipments 3,600 bales.

NEW YORK COTTON EXCHANGE COMMITTEES,
&c.

— At a meeting of the newly-elected

of

the

Board of Managers
York Cotton Exchange, held this week,
Mr. William V. King was re-appointed Superintendent of
the Exchange, and the following committees were selected:

New

—
—
—

Executive Henry H. Wheeler, Chairman; Richard A. Springs, John
E. G. Higgens, Charles W. Lee, James W. Wenman.
Finance John E. G. Higgens, Chairman; William P. Jenks, Frank
H. Wiggin, J. F. Maury, ex-offlcio.
Supervisory Richard A. Springs .IChairman; Lamar L. Fleming,
Charles A. Shearson.
By-Laws and Rules George W. Baily, Chairman; Arthur R. Marsh,
G. Howard Wilson, W. C. Hubbard, ex-officio; L. L. Fleming, ex-officio.
Legislation Walter C. Hubbard, Chairman; Lamar L. Fleming, Richard A. Springs.
Trade WiUiam P. Jenks, Chairman; Charles M. Calhoun, Charles
Stillman, James Riordan, Benjamin R. Smith, Ludwig Ellinger, Fergus
Reid.
Adjudication Emanuel Lehman, Chairman; Reinhard Siedenburg,
A. B. Gwathmey, Samuel T. Hubbard, Walter T. Miller.
Board of Appeals Henry Schaefer, Chairman; Henry Hentz, Bernard
S. Clark, PhiUp Lehman, Robert P. McDougall, J. T. Gwathmey, Clayton E. Rich.

—

—

—

—

—

—
—

Membership Frank H. Wiggin, Chairman; William Mohr, Edward K.
Cone, Benjamin R. Smith, Samuel T. Hubbard.
George E. Moore, Chairman; Marcus J. Parrott, WiUiam
Arbitration
Ray, Edward E. Moore, Hermann Norden, David H. Miller, Albert L.
Rountree.
Warehouse and Delivery John Tannor, Chairman; Arthur Lehman,
Charles A. Shearson, WiliiamlR. Craig, Clement Moore, A.Allen Jr.,

W.

—
—

Hubbard, ex-officio.
Information and Statistics James F. Maury, Chairman; Arthur R.
Marsh, A. B. Gwathmey Jr., WilUam R. Craig, Ludwig EUinger.
Commissions Henry H. Wheeler, Chairman; Bernard S. Clark, T. M.
Robinson, Secretary; Reinhard Siedenburg, Henry Schaefer.
Revision Richard A. Springs, Chairman; George Brennecke, Sigmund
M. Lehman, Edward E. Moore, Robert H. Rountree, Charles M. Calhoun,
John Grierson, George E. Moore, Edward M. Weld, Charles Stillman,
Samuel Hopkins, WiUiam Mohr, Charles C. Cowan, WiUiam Ray, WiUiam
Secretary;

C.

—

Witherspoon, WiUiam R. Craig, Fergus Reid.
Clearings
G. Howard iWilson, Chairman; Henry H. Royce,

—

Hubbard,

W.

C.

ex-ofBcio.
Abram
Classification

Thomas A.

—
Perkins,

Barbot, George

Allen Jr., Chairman; James F. Wenman,
Emmet L. Woodson, Frank C. MiUet, Wingate P-

W. Cummings.

report received by
cable to-night from Manchester states that the market
Manufacturers
is firm for yarns and quiet for shirtings.
give the prices
are generally' well under contract.
for to-day below and leave those for previous weeks of this

We

and

last

1 1

,000

18,000

year for comparison:

40,000
19,000
17,000

44,000
19,000
22,000

1905.

1906.

8M

32s Cop.
Twist.

9

25

d. s. d.
6 7

9H
9H

@
@
§

J'ne
1

8
15

9H
9M

Com

lOH
WVt

s.

8>f

Mid

32s Cop

UpVs

Twist.

common

to finest.

d.

11
18

lbs. Shirt-

ings,

d.

lbs. Shirt-

ings,

common

to finest.

m@9
7H®9

8
9
9

6.18
6.25
6.20

6
6

7H@9
7H@9
8
@9

9
9

@8 11-16 5 11!^@8 10
6.02 114
8 9-16 5 11H@8 10
6.01 IVi
6 07 7 11-16®
8M 5 11 @8 9

9

77,000 1,0.55,000 1,132,000
32,000 532,000 564,000
117,000 1,129,000 1,246,000

Corn

Mid

Upls
d.
4.36
4.39
4.61

d.

@9

6
6

103^ 6

@

4.70
4.73
4.83

—

SHIPPING NEWS. As shown on a previous page, the
exports of cotton from the United States the past w^eek have
reached 107,737 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
Total balei.

NEW YORK— To

Carpathia, 20 Sea
Liverpool, June 11,
Island; Victorian, 509
To HuU, June 13. Consuelo, 1,537
To Bremen, June 11, Trave, 602; June |13, Barba
-.ros.sa, 1,009
To Hamburg, June 13, Bluecher, 600

To Antwerp, June 8, Kroonland, 300
To Genoa, June 8, HohenzoUern, 729; June

To Bremen

8,097
— June 8 — Author, 1,362... June 12— Atlantian,

9,182...

To Hamburg— June 12— Planet Venus. 399

GALVESTON— To Liverpool—June 12— Irada, 13,506...
To Bremen June 8 Montauk, 11,015
To Rotterdam June 7 Lord Downshire, 375
MOBILE To Havre June 14 Montenegro, 4,369...
To Bremen June 14 Montenegro, 7,088...

—

—

1.611

600
300
929
150
14,379

•-

10,544

June 13

748

——
—
— — —
—

529
1.537

11, Moltke,

200

To Naples. June 8, HohenzoUern, 100; Luisiana, 50 ...
June
NEW ORLEANS— To Havre—June 8— Author, 6,282

St. Croix,

-

6,453,102

12— Atlantian,

All others

1905-06
1904-05
1903-04..

16,000
6.182,171

This
Since
week. Sept. 1.

Liverpool

May
Receipts at

1903-04.

1,600
5,868,107

1

Exports (bales)

INDIA COTTON MOVEMENT FROM ALL PORTS.
14.

1904-05.

MANCHESTER MARKET.— Our

Weekly Consumption,
000s omUted.
In October
In November
In December
In January
In February
In March
In April
In May

June

1905-06.

13.

—

1904-05.

1.

each.
Bales of
000s omitted.

June

Receipts (cantars a)

3,714,670 16,859,397 3,963,648 17,171,561

Total supply

receive a weekly cable of the movements of cotton at
Egypt. The following are the receipts and
shipments for the past week and for the corresponding week
of the previous two years:

Alexandria,

Alexandria, Egypt,

2,'54'5',476
"

now

Season.

Week.

Season.

3.599,269

Vi.sible .supply Sept .1 .
Ann'ricaii in sight to June 15.
Bomhay receipts to June 14 _
Other India ship'ts to June 14
Ale.xandria receipts to June 13
Other supply to June 13 a. ..

ALEXANDRIA RECEIPTS AND SHIP.MENTSJOF
COTTON. — Through arrangements made with Messrs.
Choremi, Benachi & Co., of Liverpool and Alexandria, we

1904-05.

1905-06.

Cotton Takings
Week and Season.

(Vol. lxxxii.

,

1.147
13,606
11,015
376
4,369
7,088

.

June

THE CHRONICLE.

16 1906.]

— June —
dale, 900
To Rotterdam — June 9 — Dunkeld, 100
To Gothenburg — June 8 — Vasconia, 200
600
To Hamburg

8

To
To
To
To
To
To

9— Langdale,

Reval— June

June

560

Vasconia,

9

1

June 9

,460

100

— Lang-

800
200
300

200

8.000

— June 14 — Arimatea, 800

800
200
100

Venice— June 14— Arimatea, 200

Fiume—June 14— Arimatea,

BRUNSWICK— To

100

11— Imogen.

Liverpool—June

4,473

4,473
1,218

To Manchester—June 11- Imogen, 1,218
WILMINGTON To Liverpool June 12 Manchester Merchant,

—

—

—

13,874

13,874

NORFOLK— To Liverpool—June 8— Albano
BOSTON—To Liverpool— June 8— Michigan,
,

,436

1

12—

291
June
Bohemian, 500; Ivernia, 10
To Manchester—June 8 Bostonian, 268
BALTIMORE— To Liverpool— June 12— Vedamore, 1,470
To Bremen June 13 Brandenburg, 1,186
June
SEATTLE— To Japan— June 7— Dakota, 400
Kanagawa Maru, 69; Shawmut, 1
To China June 7 Dakota, 150
TACOMA To Japan June 12 Shawmut, 2; Teucer, 10-_

1

,436

801

—

268

—
—
—
—
— — —

12—

1,470
1.186

470
150
12

107.737

Total

The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
Great French
Britain, ports,

New
New

—0th Europe — Mex.,

Ger-

North. South,

many.

300

York._- 2.066
2,211
Orleans.
14,379 11,691
Galveston .-.13,506
11,015
Mobile
4.369 7,088
Savannah
3,800
Brunswick .. 5,691
"Wilmington _ . 13 ,874
Norfolk
1,436
Boston
1,069
Baltimore ... 1,470
1,186
Seattle

1

Japan.

dkc.

375

Total.

5,656
26,070
24,896
11,457
14,300

,079
ll'-l

i',idb

9,i6b

5,691
13,874
1,436
1.069
2,656

470

150

Tacoma

620

12
2,075 10,179

39,112 18,748 36,991

Total

Cotton freights at

New York

the past

150

12

482 107,737

week have been

as

follows:
Sat.

Mon.

14
15

Thurs.
14
15

Fri.

14
15

Tues.
14
15

Wed.

15
15

20

20

20

20

20

20

18

18

Ghent, v. Ant_.c.
Revai, indirect. c.

18
22
16
22
27

22
16
22
27

22
16
22
27

18
22
16
22
27

18
22
16
22
27

Reval, V. Canal. c.
Barcelona
c.

30

30

30

30
18
32

30
18

18

32

32

55

55

55

Liverpool

c.

Manchester

c.

Havre
Bremen

c.
c.
c.
c.

Hamburg
Antwerp

Genoa

.

18

c.

Japan, prompt. c.

18

18

32
55

c.

Trieste

32
55

32
55

Quotations are cents per 100

14
15
18

22
16
22
27

30

lbs.

LIVERPOOL. — By

cable from Liverpool we have the
following statement of the week's sales, stocks, &c., at

that port:

May

25.

Junel.

Sales of the week
bales. 65,000
Of which exporters took.. 3,000
Of which speculators took 2,000
Sales American
58,000
Actual export
5,000

47,000
1,500
4,100
43,000
11,000
54,000
901,000
787,000
25,000
13,000
63,000
37,000

Forwarded
97,000
Total stock— Estimated
941,000
Of which American— Est. 831, 000
Total import of the week.- _ 82,000
Of which American
56,000

Amount

57,000

afloat

June

June

7.

20,000
3,200

15.

47,000
2,000
1,000
40,000
8,000
80,000
808,000
693,000
35,000
13.000
94,000
73,000

400
17,000
4,000
49,000
862,000
751,000
14,000
9,000
68,000
41,000

Of which American
32,000
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:

Market

Monday.

Tuesday.

Wed-day.

Thursday.

Friday.

Quiet.

Quiet.

Moderate

Moderate

Moderate

demand.

Saturday.

Spot.

demand.

demand.

1

12:15

P.M.

J

Mid .Uprds

6.05

Spec.&exp.

L

Futures.

D
A
Y

6.11

6.09

6.06

6.07

7.000

H
O

Sales

6,000

10,000
1,000

8,000

10.000
1.000

500

500

800

I

Market

1

t)pened

/

Market

Firm

6@7

1

P.M.

at

Steady at

1®2

1@2

advance.

advance

pts.
decline.

Steady at

Quiet at

Steady at

7@8

pts.

pts.

advance.

J

pts.

Quiet at

lH@4pts. 5@7
advance.

pts.

decline.

BREADSTUFFS.

2,340

— Lang-

Norrkoping— June 9— Langdale ,300
Barcelona— June 14— Arimatea, 8,000
Trieste

1389

Total bales.

SAVANNAH— To Bremen— June 9— Langdale, 2,340

dale,

H
%
M

.

Steady at
2(a3 pts.

2(5)3 pts.

decline.

advance

Quiet at
3 points

Quiet at

Quiet at

3@4

pts.

advance.

decline.

The

prices of futures at Liverpool for each day are given
Prices are on the basis of LTplands, Good Ordinary
Jselow.
clause, unless otherwise stated.

Friday, June 15 1906.
Prices for wheat flour have been generally firm.
A few
slight advances have taken place, owing to the firmness of
wheat, but these have been largely of a nominal character,
In spite
the trading being still of very small proportions.
of the dulness, however, millers have maintained a firm front,
encouraged by the strength of wheat and the reports of
damage to the crop. Exporters show no disposition to enter the market and the clearances from the seaboard have
The situation at the Northwest shows
fallen to small figures.
no improvement. The advance in wheat early in the week
seemed to make business more difficult than ever. Sales
were light and less than the output for the week. Corn meal
has been in light demand at steady quotations.
Rye flour
has been somewhat firmer, with the trading quiet.
Wheat has on the whole declined during the week, owing
largely to the fact that weather conditions have improved.
That is to say, it has been clear and warmer in the Northwest and cooler, with rains, in the Southwest. Furthermore,
a good deal of realizing of profits has taken place among speculators and the decline was also in some sense a natural reThe cash demand at the Northwest has been small
action.
and there are reports of increasing offerings of new wheat.
The flour trade in the Northwest is dull, millers and foreigners being further apart than ever in their views as to prices.
In not a few cases it is contended that the total crop of winter
and spring wheat will be the largest on record, much of the
damage being exaggerated. Beneficial rains have occurred
at times throughout Illinois, Indiana, Kentucky and Missouri, which, with the fine weather at the Northwest and the
weakness in prices at Minneapolis and Duluth, have resulted
in lower prices.

The Government report of Monday, June 11, stated the
condition of winter wheat at 83%, against 91% on May 1,
86% on June 1 last year, 78% two years ago and 81 the average for ten years, while the condition of spring wheat was
given as 93%, against 93.7% last year, 93% two years ago
and a ten-yera average of 94%. The Statistician of the New
York Produce Exchange interprets the above report as meaning a crop of 713,339,000 bushels, against 692,979,489
If the present
bushels last year and 552,399,517 in 1904.
expectations are realized, it will be the largest crop on record
with the single exception of that of 1901, when it was 748,460,218 bushels. To-day prices advanced under the stimulus of renewed reports of damage by dry weather in the
Southwest, especially from Nebraska and Kansas, higher
foreign markets, and rising prices for corn and oats, especially
Moreover, it is expected that the stocks at
the latter.
Duluth and Minneapolis for the week will decrease some
735,000 bushels. There was plainly more disposition among
the shorts to cover than to increase their obligations.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs.
Fri.
96

No. 2 red winter

July delivery in elevator
905^
Septelhberdehvery in elevator.. 885^
December delivery in elevator-. 89^^

June

9.

Mon.
June 11.

Tues.

June

12.

Wed.
June

13.

Thurs.

June

14.

Fri.

June

15.

12"^ 12H
4
12M 4 I2K 4 12^ 4 12K 4
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.

12H

d

June
June-Julv.

July-AugAug.-8ep.
Sept. -Oct.
Oct. -Nov.
Nov. -Dec.
Dec. -Jan.
Jan. -Feb.

Feb.-Mch.
Mch.-Apr.
Apr.-Ma.v.

H
O
L
1

D
A
Y

5
5
5
5
5
5

5
5

5
5
5

5

d.

81 5 84
81 5 84
80 5 84
74 5 77
68 5 70
63 5 65
62 5 65
62 5 65
63 5 65
64 5 06
65 5 f)S
66 5 69

d.

5
5
5
5
5
5
5
5
5
5
5
5

87
87
87
80
71
6()

65
65
()()

67
69
70

d.

d.

d.

d.

5 88 5 85 5 83 5 82 5
5 88 5 85 5 82 5 81 5
5 88 5 85 5 82 5 81 5
5 80 5 77 5 75 5 73 5
5 72 5 69 5 66 5 64 5
5 67 5 64 5 61 5 59 5
5 66 5 63 5 60 5 58 5
5 66 5 63 5 60 5 5S 5
5 67 5 64 5 61 5 59 5
5 68 5 65 5 62 5 60 5
5 69 5 67 5 63 5 61 5
5 71 5 68 5 64 5 62 5

d.
d.
(/.
81 5 83 5 84

80 5 82 5 83
80 5 82 5 83
72
63
58
57
57
58
(')()

5
5
5
5

74 5
5
5
5

65
00
59
5 59

74
07
02
01

5 01

5 02
5 02 5 03
5

(iO

(V.i 5
04
02 5 04 5 65

61

96
90 H
88 M
90

96
895^
87 J^
89>|

96
89
875^
8814

96
89}^
88
89J^

89M
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.

Mon.

Tues.

84^
July deUvery in elevator
September delivery in elevator.. 83
December deUvery in elevator.. 84 5^

83?i
83?^
84

84}^
83 J^
843^

M

Wed. Thurs.

Fri.

83

82}^

82^

82^

833^

83 >i

82Ji
82
83 J^

Indian corn futures have advanced, owing to reports that
the new crop is making slow progress on account of low temperatures, an active cash demand at rising quotations,
higher cables and light country acceptances, high bids having met with disappointing results.
The receipts have been
relatively large but the cash demand at the West is so large
This fact naturally makes
that stocks continue to diminish.
bears nervous and encourages operations for an advance.
The trading at the West has been broad and active and at
Reactions have taken place at times on the
times excited.
usual realizing, but on the whole the tone has been strong.
Rain is needed in important sections. To-day prices advanced on dry weather and damage reports.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs.
Fri.
Cash corn..69
58}4 59
603^
60}4
60?^
,

July delivery in elevator
5814
September delivery in elevator.. 58}^
December delivery in elevator.-. 57

58M

59M

59?^

59 K

58 H

59H
59H

59M

60

585^

M 57^

58}^

59?i
59j2
58

DAILY CLOSING PRICES OF CORN FUTURES IN.CHICAQO.
Sat.

Mon.

Wed. Thurs.

Tues.

Fri.

53H 52^ 52^ 53J^
51^ 533i 52^^ 52^ 53H
50^ 5lH 5lVi 50 J^ 51
the Western market have ad-

July delivery in elevator
515^
September delivery in elevator.. 51 5€
December deUvery in elevator... 50?^

Oats for future delivery in
Sat.

95
90 >^
88 J^

515^

vanced to new high-record prices. Sensational reports of
damage to the croj) from drought have been the principal
factor in the rise.
Some advices have been to the effect that
only half the usual crop will be raised in important sections.
The Government report of Monday, too, stated the condition
at 86%, against 93% a year ago, 89% two years ago and an
average for ten years of 91%. The speculation ha.s been
Commission houses have been large
active and excited.
buyers for long account. Shorts have been forced to rover.
The cash demand has been active at advancing quotations.
Stocks of contract grade are liglit and decreasing. To-day
the market advanced on crop-damage news.
DAILY CLOSING PRICES OF OATS IN NEW YORK.

.'-.

Sat.

No. 2 mixed
No. 2 wliite clipped

39
40

Mon.
39
AOyi

Tues.

Wed. Thurs.

40

41

41

41H

42H

42 J^

Fri.

Nominal
Nominal

THE CHRONICLE.

131H)
UAILV CLOSINC; i'UlUKS OF NO.

Tues.

IN CHICAOO.
Wed. Thurn.
Fri.

375
34 Ji
35 Ji

38 J^
35 >i
36>g

385^
35 }i
36

July delivery in elevator..
in elevator.. 34^
delivery in elevator
355^

September nelivery

December

The following are
Low

grades

Second

FLOUR.
20® $3 .50 Kansas

Patent, winter
Kansas patents

40® 3 60
4 80("i 5 25
3 50® 4 25

NonTinal
3 10® 3 50
2 75@ 2 85

EXPORTS OF BREADSTUFFS, PROVISIONS, COTTON AND PETROLEUM.— The exports of thefse articles

39^
35^
36^

straights

60
85
85
40

50('»)

60®

Graham

$3
3

Kansas clears
Blended patents

75

2
3
3 80(«) 3
4 20® 4
4 60® 4
4 15® i

clears

the telegraphic rcjjorts on the weatiu-r in the various State.9
week ending June 11, summarizing them as follows:
The week ending June 11 was abnormally cool in the Middle and
Northern Plateau regions, with light to heavy frosts from Northern
Arizona northward to Idaho and Wyoming. Eastward of the Rocky
Mountains tlie temi)erature averaged above the normal in all districts,
and was generally favorable. The greater part of Nebraska and Iowa
and portions of Northern Illinois, N'orthwestern Mis.souri and .Northern
Virginia are in need of rain, and severe drought prevails in Southeastern
Texas and in portions of the Central Gulf districts. Eastern Kansas
and portions of the upper Missouri Valley and upper Lake region have
suffered from heavy rains and freshets.

405^
371^
37Ji

closing (luotations:

.S3
2
3

Clears
Straights
Patent, spring

MIXKU OATS

Mon.

i

Sat.
37 J^

Kye flour
Buckwheat

flour
flour

20|Cornmeal

85®$4 00

GRAIN.
Wheat, per l>ush.
N. Uul., No. 1-.

c.

N. Dul., No. 2-Red winter, No. 2

Hard

— Mixed, bush.
white

Oats
No.
No.
No.

Corn, per bush.

c.

No. 2 mixed
No. 2 yellow
No. 2 white
Rye, per bush.
No. 3 Western

89M

"

"

I

f.o.b. 92J^
f.o.b. 91
f.o.b. 96
f.o.b.

during the month of May, and the eleven months, for the
past three years, have been as follows:
Exports
Irom
United Slates.

CE-

—

&c. The report of the Department of Agriculture,
showing the condition of the cereal crops on June 1, was
issued on the 11th inst., and is as follows:
The Crop Reporting Board of the Bureau of Statistics of the Department of Agriculture finds, from the reports of the correspondents and
agents of the Bureau, as follows:
Preliminary returns on the acreage of spring wheat sown indicate an
area of about 17,989,000 acres, an increase of 38,000 acres, or 0.2%, as
compared with the estimate of the acreage sown last year.
The average condition of spring wheat on June 1 was 93, as compared
with 94 at the corresponding date last year, 93 on June 1 1904, and a
10-year average of 94.
The average condition of winter wheat on June 1 was 83, as compared
with 91 on May 1 1906, 86 on June 1 1905, 78 on June 1 1904, and a
10-year average of 81.
The following table shows for the principal wheat States the acreage,
compared with last year, and the condition on June 1 in each of the last
four years, with a 10-year average:

ACREAGE AND CONDITION OF WHEAT ON JUNE

Quantities.

1905-06.

May.

1904-05.

May.

\l Months.]

1903-04.

May.

11 Months.'

1.

Corn

11

Months.

,

Wheat-.bush.i 1,685,011 33.795,188
Elour ...bbls.l 1,123,437 12,870,899,

Wheat o

AGRICULTURAL DEPARTMENT REPORT ON
REALS,

for the

631^

Nominal
Nominal
Nominal

—

2 mixed
2 white, clipped

60 ?i
GlVi
61"^

f.o.b.
f.o.b.
f.o.b.

Nominal
State and Jersey
Nominal Barley Western
Nominal Feeding

2

{Vol. lxxxu.

123.551
897,985

4.382,417i 1,049,380 43,700,244

8.181.515

650,260 16,049,558

bush.

6,740,478 91,714,234 4.164,483 41.199,234 3.976,000115 923 255
bush.i 5,004,354 114,745,225 6.503,968 84.161,744 1,380,767 53. 875)450

Total bush, 11,744,832,206,459,459 10,668,451 125,360,978 5,356.767,169,798.705
Values.

$
S
S
S
S
S
flour, 5,941,168 82,431.682| 4,016.862 41,080,110 3,666,016100 200 709
meal. 2,964,607 61.880,349 3,633.072 45,702,015'
849.808 30 560 914
1,1.34'
809,662
10
114,791
440 977
2,812,042'
meal. 1,179,716 16,594,691
491,621
105.541
890,825
Barley
404,618
8.306.164
145,545
5,262, 275i
113,436|
6,041,200
'

i

I

Wheat &

&
Rye
Oats &

Corn

I

I

|

Breadstuffs..'l0,604,900170,022.548, 8,347.110 94,857.576 4.734.801138 194 625
Provlsionsfi.. 18,772,071,213,182,989 15,955,827 176.419,741 14,667,010183 906'475
Cotton
16, 530,958,382, 252, 56926, 473, 056355,832,7421 9,836.142 361,590 139
Petroleum, &c: 6.217,663; 73,587,308 5,927,120, 70.690,405] 5.469.420, 69,777,875
Total value 52,125,592 839,045,414 56,703,113,697,800,464 34,707.373 753,469,114

o Including flour reduced to bushels.
months and years.

& Including cattle, sheep

and hogs

in all

The aggregate exports from the United States of wheat
and wheat flour, expressed in bushels, for the eleven months
from July 1 to May 31 inclusive, have been as follows for
four years:

kJ

1906.

1904.

1905.

WHEAT EXPORTS FROM JULY

1903.

Ten-

Con

States.

Acre-

dvtion

bJ

dition

age.

Con-

Con-

Con-

Acre-

dition

age.

Acre-

year
Acre- A verage
age.
Condition

dition

age.

Kansas

5,132

California

!

.582

5,290
1.886

4.990
1,618

Ohio

1,940
2,462
1,643
2.012
2,109
1,042
1,229
1,333

1,883
1,932
1,629
1,872
2,260
1.027
1,249
1,435

1,527
1,361
1,550
1,561
2,322
701
1,167
1,285

870
819
743
805
469

882
780
738
810
491

809
645

5.433

5.700

5,373

5,816

83.0 29,623

85.5 29,864

77.7 26,866

82.2 33,107

91

92
95
92
90
93
96
97
96

92
94
96
88
95
93
92
92

Indiana
Pennsylvania

.

Illinois

Missouri

Michigan
Texas

Oklahoma
Tennessee

Kentucky
Virginia

Maryland
New York
Other winter.
Total winter wheat

Minnesota
North Dakota
South Dakota
Nebraska

5,120
5.779
3.253

95
95

a385
a822
a350
0877
a355

Iowa
Oregon
Washington
Wisconsin
Other spring
Total spring wheat
Total all...

711
771

475

5,446
5,401
3,221
a3Sl

o903
a345
(2843

0356
794

5,951
2,583
2,066

2,399

71

1,669
1,973
2,551
1,002
1,350
1,585
1,084

85
72
79
73
80
87

91
87
89

95

1.041

93.7 17,990

93.4 17,209

44.075

Detroit
Cleveland.

94

-0.5

—12.2

-1-8.6

—

Three ciphers (000) omitted from acreage
Note
winter wheat acreage included under "other winter."

-1-9.0

figures,

o Not including

total reported area in oats is about 27,678.000 acres, a decrease
of 368,000 acres, or 1.3%, as compared with the estimated area sown

The

last year.

The average condition

of oats

was 86. against 93 on June 1
1904, and a 10-year average of 91.

on June

1

1905, 89 at the corresponding date in
The following table shows for the eleven principal oats States the
acreage compared with last year, on a percentage basis, and the condition
on June 1 in each of the last three years, with the 10-year June averages:

last

1905.

1906.

1904.

year.

Illinois

Wisconsin

Nebraska

New York
North Dakota
Ohio
Michigan
United States. -

-

98
95

94
95
93
87

98.7

'05

1,881,359
1,611,289
1,826.460

5.164.259
3.444.153
5.328 129

3,632,998
3,581,038
2,751,788

6,000
11,200
1,248
5,120

i,66o
13,000
24.000

1,000

456,265
646,579

900
2'), 468

38,827
64,480

,505,369

Since Aug 1
1905-06..- 17.793,497 208,088,551 165,755,730 200.551,144 71,901.851 7,330.036
1904-05... 14,895,885 191,363,323 164,171,423 145,369 357 62,237.632 6,388 683
1903-04... 17.222,048 204,380,476 152,4,59,482 144,185,757 63.001,468 7,344,756

Total receipts of flour and grain at the seaboard ports for
the week ended June 9 1906 follow:
Receipts at

Flour,

—

Corn

Wheat,

bbls.

Boston
Portland
Philadelphia

bush.

238,400
412,216
16H 000
9,315
20,403
21.834

133,300
33,335

1,250

Baltimore

Richmond
Newport News

New Orleans.o
Galveston
Montreal
Mobl'e

Oats,
bush.

bush.

103,024
36,937

NewYork

57,363
40,821
2,400
25,637
10,415

35,727
2,882

523 900
119,175
49,760
84,774
76,733

'24",97S

189,479
47,664
43,714
92,500
3,000
74,196
12,162

11,000
525,259

Total wpek
1905

316,456
192.603

654,328
658.663

1,406,427
382.180

Week

year

a Receipts do not include grain passing through
on through bills ot ladiJig.

average.

101

103
96
94
99
104
100
97
102

Tot.wk.'06

Ten-

with

Slates.

•

373,873
286,686
248,659

Kansas City

1.82,000

195.090
112,200
5,405
105,570

Rye,
bush.
9.475

Barley,
bush
19.200

2.607

24,.344

216 844
S4;000
89.144

10,940

1,268,674
1.609,377

30,140
146,672

Condition June 1.

Acreage
compareo

it;
'

2,818,799
148,200
5,285
65,574

62,000
191,986
1,226,815
204,600
259,000

.

Rye.

Barley.

Oats.

27,000
2,o00
13,580
201,389
6,300
334,000

9:'5,930

Saroewk. 04
94.0

189,124,913

bush. 56 lbs. bush. 32 lbs. tnish.48lbs. bu.56lbs.

1,576,042
189,000
106,352
405,720
11«.600
36,700
151,184
593,000
393.000
64,800

St. I.ouis

Samewk.

lbs.

102.866
51,040
217,254

138,324
50,750
115,400

Peoria

95

Com.

Wheat.

Flour.

Minneapolis.
Toledo

93
94
95

150,364

Per cent of Increase

115.923,255

of breadstuffs to

7,000
1,249
40.000
21,150

81.0

95.9 17.257

47.854

—

Milwaukee..
Duluth

1,067

17,989

41.199,234

market as indicated in the
statements below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since Aug. 1, for each of the last three years, have been:

Chicago

O504
o930
0352
0833
0404

92

The movement

1903-04.
43,700,244
72,223.011

bbls.wms. bush. 60

5,394
4,349
3,424

31.

1904-05.
4,382,417
36,816,817

91,714,234

Total bushels

Receipts at

920
804
810
544

5,334 95
4,567 99
3,287 100

0438
a912
0338
o925
0367

82
78
73

47,612

9.3.0

-.

or dec. in acreage.

83
76
87
84
89
75
70
86
87
93
76
84
SO
83
76

TO M.AY

1

1905-06.
33,795,188
57,919,046

Wheat, bushels
Flour, reduced to bushels

90
87
93
93
92

96
93
95
93

75

60
94
95
82
76
92

90
97
94
94
90
92
89

93
93
93
90
88

86

93

89

89

96
91

96
94
94
91
91

93
88
87

90
91

Total receipts at ports from Jan. 1 to
as follows for four years:
1906.
1905,
Receipts oj—
4,512.159

1904.
7,857.846

1903
9,395,537

Wheat.

..bush. 34,949,961
63,552,672
37,694.600
6,928,454
791,675

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

43,980,579
57,622,035
24,113.120
2,051,348
2.697.108

143,917,362

89.959,988

68,785,750

130,464,190

Corn
Oats
Barley

Rye..
Total grain...

The exports from the several seaboard ports for the week
ending June 9 1906 are shown in the annexed statement:

New

.

,

GOVERNMENT WEEKLY WEATHER REPORT.—
Mr. James Berry, Chief of the Climate and Crop Division of
the United States Weather Bureau, made public on Tuesday

compare

7,268,450

ten years.
.,,
,
,
,
,.
,
.„
The report on the acreage and condition of rice will be issued on July 10.
,

June 9

...bbls.

Portland

,

Orleans for foreign ports

Flour

The acreage reported as under barley is more than that estimated as
sown last year by about 133,000 acres, or 2.7%.
The average condition of barley is 93.5 against 94 on June 1 1905,
90 on June 1 1904, and a ten-year average of 90.
The average condition of rye is 90 against 94 on June 1 1905, 86 on
June 1 1904, and 90, the mean of the corresponding averages of the last
.

New

12,082
4,576

—

Wheat,

Corn,

Flour,

Barley,
bush.

Peas,

bush.

26,197

42,253

1,974

23V,96i

107.064

41,718

613,187
534.712

61,911 153.317

43.692

Oats,
bush.

bush.

tntsh.

bbls.

194,380

Philadelphia
Baltimore

105 283

52,657
1,250
7,043
62,294
16,848

82.243
49,760

Boston

230.037
168,000
343,776

25 637
2.826
13,038
38,493
2.882

bush.

2,337

556.602 221,968
1.766.234
456.902 1.042.630 134.047

Rye,

2V6',844

Exports Jrom

NewYork..

Newport News

Orleans
Galveston..
Montreal
Mobile
Total week

Same time 1905..

32,381
32,640
854,117

""lie
27,914
77,143
43,714
8,922
91,767
100,484
12.162

30,042
25,714

224.172213,832

.

June

.

.

1905

1

is

'

.

—

'

—

THE CHRONICLE.

1G 1906.]

The destination
July

.

of these exports for the
as below:

week and

since

1391

come forward. Low and medium-grade bleached cottons
are also somewhat uncertain in price in some c^uarters with

buying generally confined to small quantities for quick shipment. Fine grades of bleached cambrics are firm and occaJune 9
Jzine9.
1905.
Eiporls hirvickaiid June 9
1905.
sionally i-itC. higher.
Wide sheetings, on the other hand,
bush.
hush.
bush.
bvsh.
lo —
bbls.
nii'cr Jill)/
have favored buyers, with one prominent line reduced 5%.
126,198' 46,78.3, 0;'2
United Kingdom-.. 102, 21.'9 5,606.970 1,5S9,048 38,5s;9,689
310,145 59,689,117
.- 75.052 2.260,179
173,955 15,450,530
Continent
Fine grades of white goods, both plain and fancy, are well
91.718
225.614
,^83,971
3.231
699.595
So. & Cent. America 7,812
Coarse colored cottons show
68.893
28.425 1,625,215 sold ahead and firm in price.
West Indies
27.383 1,275.740
116
113.434
5S2
135.034
Brit. No. Am. Cols.no change of moment, the demand is moderate but steady
422.059
151.3(^8
277.858
Other countries
8.310
for such lines as denims and tickings, and although there i,e
556,602 108 946067
Total
221.968 10315.376 1.766.234 54.756.785
456,902 13.022.672 1.042,630 80.351.625 some accumulation of low grades, standard qualities are in
Total 1904-05
134.047 6.172.519
Domets and other napped fabrics are
limited supply.
The visible supply of grain, comprising the stocks in quietly steady. Prints are without quotable change in
granary at the principal points of accumulation at lake and prices, but buyers report favors shown to them in connecseaboard ports June 9 1906, was as follows:
tion with some staple lines.
Staple and dress-style gingOats.
Rye.
Corn,
Barley.
Wheat,
hams are generally well sold, but easier prices have been
biish.
bush
bush
bush
bush.
made in one quarter with tire object, it is reported, of
114.000
407.000
30,000
49.000
New York
695.000
nfloat
checking certain Southern competition.
Print cloths are
19'4".6o6
sY.ooo
Yl".666
Boston
1.027.000
41.000
-4.000
dull for regulars at 3J^ cents, with narrow odds easily obtainPhiladelphia
11.000
4.54.000
109.000
176.000
66,000
Baltimore
Wide goods favor buyers, 383^-inch
able on that basis.
94.000
403.000
68.000
New Orle.ans
Wheat

FlottT

Corn

Sin~p
July 1

.Sificc

Week

July

1

Week

\\

eek

Since
Jidy 1
1905.

bill!:.

\

Galveston
Montreal
Toronto --

--

Buffalo

106 000
657.000
24,000
995.000

15.000
34.000

331.000
38,000
500,000

193,000

"Y.OOO

92.000

375'.666

2'98'.666

'V.6i"

afloat

188.000

2V4",6o6

226',666

109,000

12y.OO0

'u.bbb

'5"6".666

."2.850.000

Toledo .__

"9,666

3'2¥.6o6

812,666

589.666

afloat

Detroit
"

afloat

Chicago
afloat

Milwaukee

1S9.000

i'i9'.666

i5'9',666

6V.666

32.000

1,994.000
873,000
4,495,000

5.000

2.270.000

110,000

105,000

12,744.000
1,113.000

46,000
424.000

1,030.000
297,000

108,000
13,000

247.000
14.000

514,000
4,000
71.000

361,000
94,000
148,000

50,000
276.000
19.000

11.000

692.000
98,000

961 "666
5,000

424.000
600.000

67.000
26.000

89.000

June 9 1906. .29.783. 000

3,816.000
3,370.000
3.378,000
4,65S.000
4.880,000

8.198.000
8,976.000
7.338,000
5.378.000
4.067,000

1.525.000
1.594.000
875.000
888.000
670.000

938.000
904.000
1.007.000
1,618.000
582.000

afloat

Fort William
Port .Authur

nuluth..
- - -

afloat

Kansas City
Peoria
Indianapolis.-

On

Mississippi River

OnI,akes.._
On Canal and
•

Total
Total
Total
Total
Total

.June

R iver. .

2 1906. .,30.811.000

June 10 1905. .18. 166,000
June 11 1904.. 18.475.000
June 13 1903.-20.004.000

WOOLEN GOODS.— The market for men's wear woolens
and worsteds has been quiet. The re-orders coming forward for heavy-weights are moderate in number and call
for limited quantities only.
It is noticeable that all-wool
fabrics are figuring more prominently in the re-order business
and predictions are indulged in that for both the spring and
fall of 1907 wo liens will receive more attention and worsteds

than durir
been some line

There have
next spring, but neither
the amount of business done nor price has been disclosed.
As a matter of fact, prices on such business are more or less
subject to revision, and the price situation will not be determined until after July 4th. Manipulated fabrics are not
going well, the cancellations coming forward clearly exceeding the new business booked.
A moderate business is recorded in overcoatings, with more doing in kerseys than of
late.
It is strictly between seasons in the dress goods
division, but the business coming in is fully up to the average
for the time of year.
Rather more favor than of late is
being shown to dark shades and quiet effects.

Spot goods are very firm and the tendency still
for forward shipments.
Burlaps are very firm on
the bas.'s of 6.40 cents for 103^-ounco 40-inch Calcuttas
in spite of lower quotations from abroad.
Woolen and
woisted fabrics, silks and ribbons are all without new
with.

York, Friday Night, June 15 1906.
There are two distinct views held at the present time
as to the condition of the market for cotton goods.
It is
asserted on the one hand that the situation is as strong
as at any time in the recent past, with no chance of buyeis
securing more favorable terms than at present; whilst on
the other hand it is claimed that concessions have been
made of late, are still being made, and that still lower prices
Divergent as these views are, it is possible
are probable.
Manufacturers of fine-yarn goods are
to reconcile them.
justified, so far as their product is concerned, in claiming
a strong situation, but their position is not that of the
market at large, and their claims must be qualified so as to
apply to their own class of goods only. Buyers who have
been in the market for low-grade fabrics have been able to
purchase these at conces.sions in a number of instances,
and this fact has causjd them to characterize the situation
as a whole as marked with a weakening tendency.
Roughly
divided, it may be said that goods into which cost of cotton
enters most largely are appreciably lower than they were
a month ago, while such fabrics as have labor as the chief
factor in cost of production are in some instances higher,
and in only one or two lines lower, than four weeks ago.
This week's business has been on a moderate scale in every
department of the home trade; exporters have also operated
in small lots only, with an entire absence of buying for the
China market. The woolen goods division has ruled quiet
throughout, pending the formal opening of the new lightweight season in men's wear fabrics.

upwards

feature.

Importations and Warehouse Withdrawals of Dry Goods
The importations and warehouse withdrawals of dry goods
at this port for the week ending June 14 1906 and since
Jan. 1 1906, and for the corresponding periods of last year,
are as follows:

exports of cotton
goods from this port for the week ending June 11 were 11 ,464
packages, valued at $584,853, their destination being to the
points specified in the table below:
1906

o

rt

O

June

West Indies
Mexico..
Central America

South America
Other countries
Total

\1.

Week.
18
6

Jttn

.

I

Jan

1.

6,442
42
1,876
2
266

671
691
63.773
3.800
19.388
4.335
10,078

60
290

985

24

1.221

7,282

467

2.125

25,7.39

571

8,487
26.897

337

7.537

312

8.901

...11464

144 279

1.5

30
4.738
61
1,406

800
548

8 972

1

'

1

1

1

!

.')42

335
67,009

1

;

:

:

1

:

152 905

The value of these New York exports since Jan. 1 has been
.$8,106,892 in 1906, again.st .$8,113,289 in 1905.
Brown sheetings and drills have shown some irregularity in pricesthis week, and although the production is
said to be curtailed to some extent by thescarcity of labor,
the output appears to be in excess of" demand, nio.st noticeably in the heavier lines mostly dependent u])on foreign
Selleis make no open changf s in quotations, howoutlets.
ever, being apparently content to riuoto prices as buyers

S
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t*

1

1

^
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w
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3

'

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13.300

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1905
Since

W

S

2

t?j

DOMESTIC COTTON GOODS.— The

York- to

for

to the strike in the
of Ireland sellers of linens are very difficult to deal

North

New

New

shown

of serges

i

FOREIGN DRY GOODS.— Owing

THE DRY GOODS TRADE

Great Britain
Other European
China
India
Arabia
Africa.

the past two or three seasons.

r

less

afloat

Minneapolis
St. Louis

64 squares offered at 4 15-16 cents.

CO

w"oo

to

—

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P

THE CHRONICLE.

1392

State

City l^tffinwtvr.

>%t^b

MUNICIPAL BOND SALES IN MAY.

We

present herewith our detailed list of the municipal
bond issues put out during the month of May, which the
crowded condition of our columns prevented our publishing
at the usual time.

The review of the month's sales was given on page 1334 of
the "Chronicle" of June 9. Since then several belated May
returns have been received, changing the total for the month
The number of municipalities issuing bonds
to $14,295,137.
was 210 and the number of separate issues 302. In the case
of each loan reference is made to the page of the "Chronicle"
where an account of the sale is given.

MAY BOND
Page.
122512251225.
12251168128111681114128111681226128112261334122612261226122610611281139412811114.
11681114.
1226.
1335.
1281.

Name.

.Adams County, Ind
4H
.Adams County, Ind
43^
.Adams County, Ind
4H
.Adams County, Ind
4^4
.AlmaSch. Dis.No.l6,Kan. ..
..\lma,

Mich

.Amarillo, Te.x
.Ardmore, Ind. Ter. (3

.Ashland,
.Attica,

is.)

Ky

Ohio

.Attleborough, Mass

-Auburn Twp., Ohio

1 1

5

.Bellaire,

Ohio

6

4

'"aT926""
1907-1924
1924
1926
1916
1907-1915
1907-1918
1907-1921

4
4}4

4
5
4

.Belvidere, 111
.Beverly, Mass
.Beverly, Mass

4

.Benton County Sch. Dist.
No. 16, Wash
4
.Biwabik, Minn
.Blakelv,

5

Pa

5

dl907-1926
1911-'16-'21&'26
1915

.Bokchito, Ind. Ter
1926
6
.Boulder Sch. Dist. No. 3,
Colo
4
dl911-1921
1168. .Boyd, Wis
5
1916
1168. .Brockton, Mass
1936
3}^
1226. .Bronxville, N.
4.20 fl911-1914
11911-1913
1281. .Brookfleld, Mo
5
1394- .Cabell Co., W.Va
4}i
1907-1926
1281. .Cadiz Sch. Dist., Ohio... 4
1115. .Caldwell, Kan
4H dl916-1926
1918-1921
1168- .Caldwell, Ohio
4
1115. .Camden County, N. J
1914&1918
4J^
1115. .Canton, Ohio (6 is.)
..
1907-1911
1115. .Canton, Ohio (3 is.)
..
1911
1912-1926
1226. .Carthage H.Sch.Dis.,N.Y. 3.85
1169. .Centralia Sch. Dist. No. 9,
Wash
1918-1922
5
1169. .Charlevoix, Mich
1926
4}^
1394. .Claiborne County, Tenn.. 4V$
1936
1115. .Cincinnati, Ohio
1936
3H
cfl921-1926
1335. .Clarion, Iowa
5
1281. .Clarksville, Tenn
4
dl916-1936
1281. .Clay County, Minn
3
1115. .Cleveland, Ohio
19b'6"-i969
5
1115. .Cleveland, Ohio
1906-1909
5
4
1115. .Cleveland, Ohio
1930
1281. .Cleveland, Ohio (12 is.).. 4
1335. .Cleveland, Ohio
5
."""19T0""
1115. .Cleveland Sch. Dist., Ohio 4
1926
1226. .Cleveland Sch. Dist., Ohio 4
1926
1061- .Cleveland Heights, Ohio.. 4J^ 1907-'12-'16
1907-1916
1061- .Cleveland Heights, Ohio.. 4^
1061. .Cleveland Heights, Ohio.. 4J^
1916
1335. .Cleveland Heights, Ohio.- 43^
1908-1917
4
1226. .Cleves Sch. Dist., Ohio
dl926-1946
1394. .CUnton,S.C
5
1062. .Cold Spring Harbor Fire
Dist., N. Y
1907-1916
5
1395. .CoUinwood, Ohio (2 is.).. 5
^1916-1926
1281. .Colorado Ind.Sc.Dis.,Tex. 5
1226- .Colorado City Sch. Dist.
No. 1, Colo
4}4 dl916-1926
1908-1919
5
1335. .Colton Sch. Dist., Cal

Y

1335. .Columbus, Ohio
1395- Comal County Tex
1335- .Cook County, 111
,

.

4
4

1916
dl916-1946

4

County Sch. Dist.
4>^
No. 99, 111
1281. .Cowpens Sch. Dist. No.
50, S. C
1336. .Cranford Township, N. J. 4:]4
4
1281.. .Dayton, Ohio
4
1281 -, .Dayton, Ohio

Price

100.866
100,851
100.801
100.783

,000

15,000
10,000
120,000
36,000
2,000
40,000
5,000
35,000
10,000
30,000
15,000
15,000
28,000
20,000
10,000
12,600
84,000
75,000

1924
1916
al919
1936
1911-1926

4

W. Va

S8,200
3,060
3,500
9,000

dl915-1945

4
4
4
4

.Belington,

,

Amount.

'1911-1918

5
5
5
6

.Augusta, Ga
.Aurora, Minn
.Bangor, Pa
.Bangor Sch. Dist Pa
.Barberton Sch. Dist., O..
.Battle Creek, Mich. (2 is.)

SALES.
Maturity
1906-1916
1906-1916
1906-1916
1906-1916

Rate.

ro¥.833
101.75
101.75
1 bb"

102.05
101.58
103.56
100.05

106.05
101
103.01

15,000
16,000
75,000
425,000
5 ,500

10,000
14,441

101.17
101.78

97.333
100
100
100
100

100
103.353
100
100.937
105.037
100.477
100

104.066
101.718
100.793
100
101. 59
100
100
101.607
101.607
104.092

336,000
294,000
500,000
2,150,000
116,000 xlOO
100,000 xlOO
250,000 103.260
1,324
7,127
183
60,974
2,500
25,000

3,000
60,000
15,000

101.656
100.50

100

ibb'""

21 ,000 2/100

18,000 101.666
8,000 xlOO
10,000
f
48,000
100.375
I 427,000

1169-, .Cook

1281-, .Dayton, Ohio

4
5
4

1169-..De Kalb County, Ind
1227- .Delhi, Ohio
4
1281...Denver, Colo
1336- .Des Plaines Sch. Dist. No.
5
64, lU
1227.. Douglas Sch. Dist. No. 27,
Ariz
5
-Douglas County Sch. Dist.
1169-414
No. 105, Wash.
4
1281- -Dover, Ohio
1281. -Du Boistown So. Dis., Pa. 4
1282. -Duran^o Colo
414
1227. -East Pittsburgh Sch. Dist.,
Pa
4}4
1116- . Edge wood, W. Va
5
1116- .Elizabeth, Pa
45^
1116- .Elkhart Ind...
3J^
1336- -Elkhorn Wis
-.
111610621227
1227.

-Estherville,

owa

-Everett, Mass
Everett, Mass
.Fall

River

Mass

5

4
4
4

1909-1919

12,000

1907-1913
1913-1919
1920-1921
1907-1916
1907-1908
1926
1907-1921

6,000
15,000
168,000
39,000
20,000
27,000
3,000
100,000

1912-1921

8,500

1926

dl907-1916
1907-1916
dl911-1936
dl916-1926
1909-1934
1926

dl916-1926
1933
1907-1931
1916

Nnmi:.

Hate.

4
5
4}4
4
.Fortville Sch. Dist., Ind-- 5
Fremont, Ohio
4i4
.Fruila, Colo
6
.Gainesborough, Tenn
5
.Gallup, N. M_.
5
.Gibsonburg, Ohio
4
.Glen KUyn Sch. Dist. No.

aI916
dl911-1921
dl911-1921
1907-1916
1916
1907-1916
dl916-1926
dl916-1926
dl926-1936
1916

44H

1909-1917
1907-1926
dl907-1936
1911-1916
dl911-1921
1907-1936
1931
1916
1907-1911
dl926-1936
dl908-1916
1936
1926
dl916-1927
1908-1922

41,
Glouce.ster,
.Glouce.ster,
111

1282.
1169.
1169.
1116128211701116.
1116.
11701062.
1227128212821282-

4

Mass-..
Mass

4

.GloversvilleSc. Dis., N.Y. 3H
.Granite Sch. Dist., Utah. 4H
Granville, N. Y
4

.Haintramck Twp., Mich-. 4"^
.Hancock, Mich.
5
.Holland, -Mich

4}4
Huntington, W.Va. (2is.) 5
Huntsville, Ala
6
.Indianapohs, Ind
3H
.Ironton, Ohio
4
.Irving Sc. Dis. No. 75, lU. 6
.Ithaca, N.Y
4

1282- .Jackson, Ga
1282- .Kahoka Sch. Dist., Mo...
1282-..Kandivohi County, Miim.
1227...King County, Tex
.King Co. School District
1336..

5

No. 124 Wash
1282.-.Kitsap Countv Sch. Dist.
No. 33, Wash
1170.- Kitsap Countv Sch. Dist.
No. 47, Wash
1336- Kittson County, Minn
1282- Klamath Countv Sch. Dist.
No. 1, Ore-.."

414

1170- La Crosse, Wis
1283- Lake City, Fla
1283- Lakewood ,N.Y
1283- Lakewood, Ohio
1116.. Lancaster Sch. Dist.,JOhio
1336-. Latah County Sch. Dist.

4
5
4

No. 37, Idaho

1912&I915

5

dl911-1916

4}4

1063111712831117.
1337.
1337.
1171.
12281228-

.

,

6

5

4

5
5
5

4
4

4

4
4
4
6
5

3
4

18.

1338. .Rialto Sch. Dist., Cal
1228. -River Falls, Wis
1172. -Roanoke, Va
1172. .Roanoke, Va
1172. .Rockford, 111. (2is.)
1064. .Rockville Centre, N.Y...
1338- .Saginaw, Mich (4 is.)
1286- .St. Charles, Mo
1172. .St. Charles Twp. Sch. Dis.

1911-19.35

1907-1916
1914-1917

100.777

100

2,000

100
100
100

4,250 106.011
30,000 i/101.033
10,000 102.50
30,000 100
4,600 103.16
8,000 103.759

dl908-1911
1913-1923

1912-1927
1936
1906-1915
1927-1936
1926
1926

dl916-1926
1931
1907-1921
1936
1908-1911
dl916-1926

1925&1955
1946

1926
1908-1913

al916

1927-1936
1923-1929
1911-1935

1907-1911
1906-1908
1936
1907-1926
1914-1925

No. I.Mich

Wis

1912-1929
1907-1921
1936
1936
1916
1913-1919
3.85
1907-1916
314
dl911-1926
4

5
5

1909-1913

6

1916
1907-1911
dl916-1926
dl907-1926
1907-1910
1936

48,000

100
105.652
106.044
103.755
102.301
104.087
106.02
102.123
102.557

So. Dak
5
1065. .SistervilleSch. Dis.,W.Va. 5
1229- .Skagit Countv Sch. Dist
No. 2, Wash
5
1229. .South Omaha, Neb
4H

101

dl916-1926
dl916-1926
a 1935

4
5
4
414
4
4

40,000
17,000
20,000
50,000
11,000
8,000
22,000
25,000
10,000

100
102.90

ibb"""

500

5

1398.
1338.
1286.
1173.
1173.
1399.
1229.
1173.
1229.
1286-

900

Ydo"
lby.564
100

800
5,500

100
100.51

15,000
40,000

104.066
101.25

25 ,000
16,500
27,000
113,000
30,000
87,700
26,000

96.00
102.52
100
101.077
101.516
100.197
102

1

,995 .TlOO

94,000 100
200,000 104.03
95,125 100
3,000 100
115,000 100
9,000 114.11
10,000 2/102.25
12,350 104.259
50,000 101.448
20,000 101.10
15,000 100
40,000
f

20.000 102.28
50,000 102
15,000 102.013
150,000 102.25
10,000 105 67
6,000 102.725
459.501 xlOO
...
52,000
10,000 100
1,900
20,000
200,000
30,000

100
...
...

100

76,000 100
15,000 104.923
125,000
25,000
30,000 100.02
1,000,000 llOO
65,750 100
30,000 102.39
15,000 113.765
140,100 102.163
20,000 100.375
320 100.609
300,000 zlOO
20,000
4,000 102.30
J
1121,000 103.405

Dist

Minn

.St. Croix Falls,
.St. Johns, Ore

llOO

1,000

14,303

5

5

Price,

101.647
100.705

9.000 101.833
50,000 101.67
30,000 102.615
25,000 100
60,000 100
30,000 100
40,000 101.89
10,000 102.55
38,000 ylOO
100,000 108.585
10,000 103.50
100,000 104.20
20,000 105.005
5,000 108
101.168
(65,000
110,000 102
16,000 2/101.25
4,200 100
66, .501
100
4,000

3

414
1337.
6
1171- .Olympia, Wash
3H
4
1284. .Orange County, N. Y
1171. .Otsego Union Free Sch.
Dist. No. 1, N.Y
4
1064. .Owatonna, Minn
5
..
1338- -Passaic. N. J. (2 is.)
..
1285- .Perry, Fla
1285- -Perrv, Okla
5}4
1285- .Pittsburgh, Pa
3}4
1171- - Pleasant ville, N. Y. (4 is.) 4
4
1171- -Plymouth. Mass
1171- -Plymouth Sch. Dist., Pa. 5
1117- -Pocahontas Co., la. (5 is.) 6
1228. -Pontiac. Mich
5
4
1171. -Preble County, Ohio
1171- -Providence. R. I.
3J^
-Quincy, Mass.1117.
3.65
1117. .Red Jacket, Mich
414

No.

5 ,000

30,000
25,000
8,664
663
85,000
6,000
10,000
11,537

4H

5

.Montgomerv Twp., Ohio.
.Mooresville, N. C
.Mount Vernon, Ohio
.Mount Vernon, N.Y
.Mount Vernon, N. Y
.Muskegon, Mich
.Muskegon Heights, Mich.
.Nampa Ind. Sch. Dist. No.
37, Idaho
.Nashville, Tenn
.Newark Sch. Dist., Ohio.
.New Britain, Conn
.New Haven Twp., Ohio..
.New Madrid Sch. D., Mo.
.New York City (6 is.)
.Nutley Sch. Dist., N. J..
Oberhn Kan
.Okarrogan Countv Sch.
Dist., No. 17, Wash...
.Okemah, Ind. Ter..

$58,400
5,000

dl908-1916

,

1283.
1283.
1228.
1171.
1171.
1337.
13371228-

A mount

dl909-1911

No. 9, Wash
1918-1922
5
4
1283- Lititz, Pa
dl911-1936
1283- Longmont Sch. Dist. No.
4
17, Colo
1915-1923
1063- Lorain City Sch. Dist., O. 4
4
1908-1921
1228- Lumberlaiid, N. Y
4
1907-1916
1283-- Lynn, Mass
4
1170-- Madison, Wis
1926
1907-1911
1283-- Mansfield, Ohio (21 is.)-..4&5
1116-- Marietta, Ind. Ter
5
1936
dl915-1925
1337-- Matagorda County, Tex.. 4
1907-1936
1116-- Matteawan, N. Y. (2 is.). 3.85
1228-. Minneapolis, Minn. (2is.). 4
1935
1170-. Minnesota Loans
..
4
1283- Monroe Mo

40,000 100.1025
1,150
12,000

1911

5
3

4
1170-. Leetonia, Ohio
1283- Lewis Countv Sch. Dist.

1338. -Red Lake Co. Sch

100.166
101.780
102.810
100.61
102.133
101.50

Maturity.

4&5

.Findlay, Ohio (5 is.)
Findlay, Ohio
Flandreau, So. Dak
.Florence, Colo
.Fond du Lac, Wis

100

12,000 100
25 000 2/100.10
S.OOO 100
6,500

25,000
3,000
25,000
8,000
6,000
4,500
85,000
30,000
15,000
4,000
65,000
32,4251
11,900/
28,000

Page.
1336122712271169.
1336.
128211161169.
1169.
13961282.
1227.

[Vol. lxxxii.

.Salamanca, N. Y
.Sanders Countv. Mont ...
-San Juan Countv, Wash-.
.Sault Ste. Marie'. Mich...
.Shawnee Sch. Dist., Okla.
.Shelbvville Sch. Dist Mo.
.Sidney, Ohio
.Sisseton Ind. Sch. Dist.,

4
4
4

4H
5

5
4

al916

1907

dl916-1926
dl911-1921
1907-1911
dl911-1926

18,000
18.000
15,000
414,000
270,000
96,200
7,000

104.94
101

41 ,000

100
100
100.875
100
100

80,000

100.05

5,000 102.15
10,000 j/101.85
10,000 111.01
5,000 100
40,962 100
14 000 100
40,000 100
15.000 106.55
12,000 ylOl.091
1,500 zlOO
14,000
30,000

102.142
102.50

1,500 100
250,000 1/100.131

f

— —
—
June

—

.

Name.

Rate.
5
4

1 399-- Spencer, N.C
1286- -Springfield Sch. Dist., Mo.
1065.-Steubenville, Ohio
1229_-Streator Sch. Dist., 111..1 229 -- Syracuse, N.Y

4J^
5
4
5
llI9--Tonawanda, N. Y
1119-.Triadelphia Sc.Dis.,W.Va. 5
4
1119--Troy, N. Y
1339- -Union, S.C
4H
1174- -Union City Sch. Dist., O. 4
1174- -Union Free Sch. Dist. No.
41^
5, N. Y
4
1119- -Vienna Twp. Ohio
4
1340-.Waitsburg, Wash
4
1119--Waterto\vn, Mass
SH
1287- -Webster County, Iowa
- 6
1231 --Whitefish, Mont
Ind
6
1288-. Whitley County,
5
1231--Wood County, Ohio
1340. -Worcester, Mass (2 is.)--- 3H
1340. -Worcester, Mass
3H
1288--Yellowstone Co., Mont--- 4
1288- -Yellowstone Co. Sch. Dist.
4>^
No. 2, Mont
5
1288--Yonkers, N. Y
5
1288--Yonk;ers, N. Y
5
1120--Youngstown, Ohio

1120--Youngstown, Ohio
1120--Youngstovvn, Ohio
1120-.Youngstown, Ohio
1288-_Zanesville, Ohio

H^ Amount.

Maturity
1936

Price

100
100.008
102.26

1907-1913
1907-1913
1907-1926
1921
1907-1926
1926
dl926-1946
01921

$35,000
60,000
20,000
7,000
50,000
26,000
41,000
48,802
25,000
22,000

1906-1924
1908-1927
dl916-1926
1907-1936
1909-1915
dl916-1926
a 1909
1907-1911
1916
1936
dl916-1926

19,000 100
15,000 100
11,000 100
59,000 103.76
100,000 100
30,000 100.533
7,480 100.053
50,000 102.3735
53.500 xlOO
25,000 xlOO
35,000 100

dl916-1926
1908

25,000
200,000
57,650
50,000
2,500

1907&1909
1907-1917
1907-1909
1907
1907-1911
1907-1916

5

5
5
5

600
28,000
68,000

102.51
102.29
104.77
102.143

100.46
100.13
100.03
106.378
101.20
100
102.81
104.544

rf Subject to call in and after the earlier
a Average date of maturity
year and mature in the later year, k Not including $23,389,048 of temporary loans reported, and which do not belong in the list, x Taken by
sinking fund as an investment, y And other considerations.

BONDS SOLD BY CANADIAN MUNICIPALITIES.
Name.

Rate.

1114--Brandon, Man. (April)
1335. -Brandon, Man
1395 -Diclsbury, Alta
1396 .-Kincardine, Ont
1117 .-Oshawa, Ont
1282 -Duiidas, Ont
1284 ..New Hope Sch. Dist. No.
.

691,

:

— —— —
—

—

Man

4H

Maturity
1936

5

6
4
4)4

"'"1926

.

"'

'1907-1926

1936

4
5

1340 -Wapella, Sask

1907-1926

5

.

Amount.

Price

$90,000
59.067
10,000
8,500
4,700
10,000

101.863
103.35
107.65
92.23
100.02

4,000
10,000

101.562
101.25

1393

the so-called Statehood Bill, whereby Oklahoma and Indian
Territory are to be admitted as one State under the name
while Arizona and New Mexico are also to be
of Oklahoma
admitted as one State under the name of Arizona, provided
the people of Arizona and New Mexico both vote for joint
Statehood at the general election Nov. 6.
Pittsburgh-Allegheny, Pa. Greater Pittsburgh Election.
The election June 12 in the cities of Pittsburgh and Allegheny on the question of consolidation resulted in favor of a
"Greater Pittsburgh." The majority in the City of Pittsburgh in favor of cons5olidation was about 26,000, while
Allegheny cast a majority of 5,000 against the proposition.
The adverse vote in Allegheny does not defeat the project,
as the law provides that the consolidation becomes effective
when a "majority of all the lawful voters of the two cities
and the intervening land, voting upon such question, have
voted in favor of the annexation or consolidation." For
previous attempts at consolidation see our issue of Feb. 10,
p. 347.
Philippine Islands.— Sonrfs Listed.— The $1,000,000
10-30-year (optional) public-works and improvement bonds
awarded last February were listed on the New York Stock
Exchange on June 7. For full details of these bonds see
V. 82, p. 292.
,

—

4%

Total bond sales for May 1906 (210 munici1$14,295,137
paUties covering 302 separate issues)

Page.

——

THE CHRONICLE

16 1906.

Page

—

.

Bond Proposals and

Negotiations

tliis

week

hare been as follows
Abington Township, Montgomery County, Pa. Bond
Sale.— Ihiii township recently awarded $50,000 4% 30-year
road-improvement bonds to Edward V. Kane & Co. of PhilaFollowing are the bids:
100.27
102.17 Henry & West. Philadelphi.i
Edward V, Kane & Co., Phila
Brown Bros. & Co., Philadelphia.. 101. 60 IJenkintowa Trust Co. (tor 310,000)100.00
Acquackanonk Township School District, Passaic County,
N. J. Bond Sale. The three issues of coupon school-building bonds aggregating $43,500 and described in V. 82, p.
York
1168, haA^e been awarded to O'Connor & Kahler of
City at 100.50 and interest for 4i^s.
delphia at 102.17.

|

—

New

—

REVISED TOTALS FOR PREVIOUS MONTHS.
On June 4
Albion, Edwards County, 111. Bond Sale.
The following items, included in our totals for previous $2,000 6% 1-4-year (serial) coupon sidewalk bonds were
months, should be eliminated from the same, as the sales awarded to George Waters at 102. Bids were also received
have not been carried to completion. We give the page from Charles Smith and Stewart, Emmerson & Co. Denumber of the issue of our paper in which the reason for the nomination $100. Interest annual.
Albuquerque, N. Mex. Bonds Not Sold Bond Offering.
failure to consummate the sale may be found.
No award was made on June 4 of the $30,000 (not exceeding

—

—

Name of Municipality.
1114--Bellaire, Ohio (March hst)
1282- -Jackson, Miss. (Jan. list)
1116--.Jordan Sch. Dist., Utah (April list)
1337- -Monroe County (April list)
1283 --Montgomery, Ala. (.4pril Hst)

Amount.

Page.

$10,000
250,000
30,000
135,000
75,000
40,000
29,963

1337-. Muskegon Heights (February list)
Y. (February list)

1120--Wellsville, N.

We have also learned of the following additional sales for
previous months:
Page.
Maturity.
Price.
Name.
Rate.
Amount.
11 14- -Asotin

No.

County Sch. Dist.
dl907-1926
1908-1928

$4,400
15,000

100

No. 2, Wa,sli. (2 is.)--. 43^
1227--Fremont County Sch. Dist.
No. 2, Idaho
-.

dl907-1920

9,500

100

1227. -Idaho Falls Sch. Dis., Ida. 5
1116- -Jordan Sch. Dist., Utah-- 4^
1116--Meagher County, Mont
4)^

dl916-1926

7,

Wa.sh

4}4

1168-..\spinwall Sch. Dist., Pa1115- -Chelan County Sch. Dist.

1117-_Ogden, Utah
1171__Price.Utah

4H

4^

6
1287- -Thomas Co., Kan. (Feb.)- 4
1287- -Warren, Minn. (March)-- 4
1288--Winiamson, W. Va
6

rfl91

1-1926

dl916-1926
dl916-1926
dl911-1916
'iglV-ig^s

dl916-1926

1,100
15,000
60,000
30,000
30,000
10,000
5,000
12,000
15,500

20-30-year (optional) city-hall bonds described in V. 82,
We are informed that none of the bids received
complied with the requirements. These bonds are being reoffered, this time as 4J/^% bonds, and proposals will be reDeceived until 12 m. July 2 by Hany F. Lee, City Clerk.
nomination $1 ,000. Interest Jan. 1 and July 1 in New York
City.
Maturity thirty years, subject to call after twenty
Bonded
Certified check for $1,000 is required.
years.
Assessed valuadebt, not including this issue, $163,000.
tion for 1905 $2,753,800.
Alleghenyg(Pa.) Twelfth Ward School District. Bond
Election.
On July 10 a proposition to issue $20,000 heatingsystem bonds will be submitted to the voters of this district.
Alliance, Ohio.
Bond Offering. Proposals will be received until 12 m., June 20, by Charles O. Silver, City Auditor, for $7,500 4% water-works bonds.
Denomination $.500.
Date July 1 1906. Interest semi-annually at the City
Maturity July 1 1916. Certified check
Treasurer's office.
for 5% of bonds bid for, payable to the Treasurer of the City
Blank bonds to be furnished by the
of Alliance, required.
purchaser.

4%)

p. 1114.

—

101.25
100
101.256
100

100
100
100
108.90

AH

the above sales (except as indicated) are for April.
These additional April issues will make the total sales (not
including temporary loans) for that month $8,921,237.

—

—

—

Alma,* Harlan County ,T Neb. Bonds Registered. Issues
$2,500 electric-light and $15,000 water-works 4^%
30-year bonds have been registered.

of

—

Proposals will be received
Altoona, Pa. Bond Offering.
m., June 21, by R. C. Wilson, Chairman Finance
Committee, for the following bonds:
until 2 p.

Ne>v9 Items.
California.
Legislature Adjourns.
this State, convened in speciarsession

made necessary by

—The

Legislature of
on June 2 to enact laws
the earthquake of April 18, adjourned

$309,000,4% 10-30-year (optional) refunding bonds. Denominations: $100. $500
and $1,000. Certified chfek for SI. 000 required.
300,000 4% 5-30-year (opti(mal) reservoir bonds. Denominations: $500 and
S1,000. Certified check for $2,000 required.
100,000 4% ."^-ao-year (optional) street-improvement bonds. Denomination $500.
Certified check for $2,000 required.

June 12.
Bonds will be dated July 1 1906. Interest semi-annually
Denver, Colo. Result of Election. The vote at the elec- at the office of the City Treasurer. The United States Morttion May 15 on the various franchise propositions was as gage & Trust Co. of New York City will certify as to the genufollows, according to the official figures furnished us by the ineness of the bonds.
Each bid must be made on a blank
City and County Clerk:
form furnished by the city. Certified checks to be drawn
Proposed FraticMses —
on a national bank and made payable to the City Treasurer.
Northwestern Tormlnal franchise (Moffat Road)— Carried by vote 9.593 to 0,424.
Delivery June 28.
Accrued interest to be paid by purchaser.
Denver City Tramway franchise — Carried by vote 8 198 to 8 01.'?.
Denver Ga.s & Electric franchise —Carried by vot« 8 340 to 7'725.
Andover, Ashtabula County, Ohio. Bond Offering. ProUnion Pacific RR. franchise— Defeated by vote 6 05.5 to 8 875
Denver Terminal Ry. franchise— Defeated by vote 5 961 to'9 ,370.
posals will be received until 12 m., June 26, by F. A. WoodMunicipal Traction franchise — Defeated by vote 4. 333 to 10897.
ard. Village Clerk, for $1,500 5% coupon lighting bonds.
Charter Amendmcntf: —
Extending time payment of Improvement bonds from 20 to 50 years — Defeated by Authority,
DeSection 2835 of the Revised Statutes.
vote 0.491 to 8.497.
Providing for $60 Arc Lights— Carried by vote 10 242 to 7 681.
nomination $500. Date May 1 1906. Interest annually at
Lacombe Light Pl.ant purcha.se — Defeated by vote 9 165 to 9 653.
the Bank of Andover.
Maturity $.500 on May 1 in <»ach of
Providing tor "Initiative Ordinance" — Carried by vote 9.351 to 5.891.
Massachusetts. Bill to Exempt State Bonds. The State the years 1908, 1909 and 1910. Bonds are exempt from
Certified check for 10% of the bonds bid for,
Legi.slature has passed the bill to exempt State bonds from taxation.

—

—

—

payable to the Village Treasurer,

taxation.

—

Oklahoma-Indian Territory Arizona-New Mexico. Statehood Bill. The Senate on June 1.3 and the House on June
14 adopted the new conference report (previous conference
report, not being satisfactory, having beeniwithdrawn)Jon

—

including this issue, $2, .500.

is

required.
Bonded debt,
valuation. $234,508.

A.ss(\sse(i

Anne Anmdel|County
Offering.

— Proposals

will

Bond
(P. O. Annapolis"), Md.
be received until 11 a. m., June 26

(time extended [from J June

12),'

by theXBoard

of

County

THE CHRONICLE.

1394

4% coupon bonds. Autliority,
Chapter 313, Acts of 190G. Interest Jan. 1 and July 1.
Maturity $25,000 cverj- live j'ears. Bonds are exempt from
Certified chec-k for 2% of the bonds bid for,
taxation.
Delivery on
paj'uble to the County Treasurer, is required.
Bonded debt of county $50,000; sinking
or before July 10.
fund $9,253. Assessed valuation 1905, $12,345,370.
The official notice of this bond offering will be found among
Coniinissioners, for S2oO,0®0

Department.
Ashtabula, Ashtabula County, Ohio. Bonds Defeated.
The propositions to issue $375,000 water-works bonds,
$325,000 Ashtabula Water Supply Co. plant-purchase bonds
and $50,000 eleetrie-light-plant bonds all failed to carry at
the election held June 5.
Baker City, Baker County, Ore. Bonds Defeated. The
proposition to issue the $15,000 ])ark-site bonds mentioned

the (idvcrtiscincnts clscif}t(rc in Ihis

—

—

—

—

on June 6.
Flower School District, McLean County,

in V. 82, p. 1226, failetl to earrv

Bell

111.

—Bond

Sale.— An issue of $10,000 5% 1-3-year school-building
bonds was recently awarded to the First National Bank of
Bloomington. Denomination $500. Interest annual.
Bonds
Bell School District, Santa Barbara County, Cal.

—

—

[Vol,. l,xxxix.

only $85,000 had been awarded up to June 7— $60,000 to
the State of West Virginia and $25,000 to the First National
Bank of Huntington. The allotment of the r«maining
$35,000 was reserved by the Court for further consideration.
See V. S2, p. 1335.

—

—

Cambridge, Ohio. Bonds Voted. This city recently by
a vote of 319 to 104 authorized the issuance of $10,000
sewer bonds.

—

—

Camden, N. J. Bond Offering. Proposals will be received
until 8 p. 111., June 22, by Philip WiLson, Chairman Finance
C^oininittce of City Council, for $38,000
repaving (coupon
or registered) bonds.
Denomination not less than $1,000.

4%

Date Aug.

Interest semi-annual.
1 1906.
Maturity Aug. 1
Certified check on a national bank for
of the
bid for, payable to the City Treasurer, required.

5%

1936.

bonds

—

—

Canton, Stark County, Ohio. Bond Offering.
Proposals
be received until 12 m. July 16 by Armstrong Ashbrook,
City Auditor, for the following bonds:
will

$5,000 1-5-year (serial) Fulton Street improvement bonds. Interest not to exceed
5%. Denomination $1,000.
3,200 Hartford Street improvement bonds dated June 1 1900. Denominatioa
$040.
Maturity $1,280 June 1 1908 and $640 yearly from 1909 to 1911 inclusive.

10,000 10-vear public-park bonds at not exceeding 4'A% interest. DenominatiOD
$1,000. Date July 2 1906.
29,000 10-year refunding bonds dated June 1 1906. Denomination $1,000.

Each bid must be made on a blank form furnished by the
and must be accompanied by a certified check on some
bank in Canton for 5% of the bonds bid for, paj'^able to the
Tex. Bonds DeBells School Disrrict, Grayson County,
Purchaser to pay accrued interest. SucThe proposition to issue the $10,000 5% school bonds City Treasurer. furnish blank bonds.
feated.
cessful bidder to
mention of which was ntade in V. 82, p. 173, was defeated
Canyon County (P. O. Caldwell), Idaho. Bond Sale. An
on May 5.
We offer of $20,705 for 4J^ per cents was received from N. W.
Description of Bonds.
Belvidere, Boone County, 111.
Harris & Co. on June 4 for the $20,500 coupon bridgeare informed that the $12,600 5% 1-9 year (serial) bonds
building bonds described in V. 82, p. 1115.
recently awarded to local investors at par (V. 82, p. 1335)
Carbon County (P. O. Rawlins), Wyo. Bond Sale. On
Denominations $500 and $400.
are dated May 21 1906.
June 4 the $14,400 10-20-j'ear (optional) coupon refunding
Interest annually on March 1.
Bonds Voted. The issu- bonds described in V. 82, p. 648, were awarded to the Wells
Bluffton, Allen County, Ohio.
ance of $15,000 street-paving bonds was authorized on May 1 & Dickey Co. of Minneapolis for $14,415, accrued interest
and blank bonds for 43^s.
by a vote of 400 to 48.
Cashmere, Wash. Bonds Voted. This place has voted to
Wells County, Ind. Bo7id Sale. On June 1
Bluffton,
bonds.
$42,000 4% refunding bonds maturing in 1922 were awarded issue $10,000 water-.supply
Catskill Union Free School District No. 1, Greene County,
to the Union Savings & Trust Co. of Bluffton at par, cost of
Denomination $1,000. N. Y.—Bond Sale.— On June 8 the $40,000 4% loH-year
printing bonds and advertising.
(average) coupon school-building bonds described in V. 82,
Date June 1 1906. Interest June and December.
p. 1281, were awarded to the Catskill Savings Bank at 101.51
Boone County (P. 0. Columbia), Mo. Bonds Registered.
An issue of $4,000 7% refunding bonds was registered by the and accrued interest. Following are the bids:
This district recently voted against a proposition
Defeated.
to issue $6, .500 bonds.

—

—

city

—

—

—

—

—

Catskill Savings

1 1

4%

—

—

ProBradford, Miami County, Ohio. Bond Offering.
posals will be received until 12 m., June 25, by J. S. Moore,
coupon refunding bonds.
Village Clerk, for $7,174
DeAuthority, Section 2701 of the Revised Statutes.
nomination $350, except one bond for $174. Date June 1
Interest semi-annually at the Bradford Bank in
1906.
Maturity $174 Dec. 1 1906, $350 each six months
Bradford.
from June 1 1907 to Dec. 1 1910 inclusive and $700 each six
months from June 1 1911 to Dec. 1 1913 inclusive. Bonds
Certified check for $360, payable to the
are tax-exempt.
Accrued interest to be paid
Village Treasurer, is required.
by purchaser. Bonded debt, including this issue, $14,424.
Assessed valuation, $364,500.

4^%

Bristol, Pa.

—Bonds Authorized. — Local reports state that

the Council has passed an ordinance providing for the
issuance of $100,000 filtration-plant bonds.
Bryan, Williams Coimty, Ohio. Bond Election. The City
Council has authorized the Mayor to call a special election
for the purpose of voting on a proposition to issue electriclight and water- works-plant bonds.
Bond Offerings Proposals will be received
Buffalo, N. Y.
until 12 m., June 20, by George M. Zimmermann, City Comptroller, for the following bonds:
l-20-vear (serial) registered reiunding water bonds (uon-taxaMc)
$100,000 1%

—

—

—

—

Author'ty. Chnpter 6.S5. Laws of 1S<>2, as amended.
100,000 .3!^'^ 1-5-year (serial) registered Bu'Talo River improvement bonds (nontaxable).
Authority, Section 1, Chanter "iOS. Laws ot 190/!.
6S "ilO 55 4% 20-year registered grade-frossing bonds (non-taxable). Authority,
Section Ki. Chapter ,S45, Laws ot 1SS8.

Bonds will be dated July 1 1906. Interest will be payable
semi-annually at the office of the City Comptroller or at the
Separate bids
Gallatin National Bank of New York City.
Certified check for 2% of the
are to be made for each is.sue.
bonds bid for, payable to the above-named City Comptroller,
required.

Loans Authorized.
authorized:
1,500 00
1.279 70

4%
4%
4%

608 75

4%

$14,000 00
,•

Cabell

'

— The

Department
•Inly

1

of

Poor

following
certiticatos,

were recently

loans

dated June

1

1900.

Maturity

1907.

funding certificates, dated .June 1 1900. Maturity .July 1 1907.
1-year funding bond, dated .luly 1 1900, to be taken at par by the
Authority
fKrie Railroad Grade Crossing Bond Sinking Fund.
Interest semi-annually
Section 10. Chapter 345. Laws of 1888.
at the Citv Comptroller's odice.
1-year judgment-funding bond, dated June
par by the Bailey Avenue Sewer Sinking
1
1907.

County

(P.

Bank, Catskill

State Comptroller, .\lbany

—

Bonds Registered and
(P. 0. Gail), Tex.
refunding road and bridge
An issue of $5,000
Sold.
bonds of this county was registered on June 5 by the State
On the same day the bonds were awarded to
Comptroller.
Securities
State Board of Education at par and interest.
are dated April 10 1906.

—

1

1900, to be taken at

Fund.

Maturity July

—

Bonds
0. Huntington), W. Va.
are advi.sed that of the $120,000 4}4%

Awarded in Part. —We
coupon bridge and court-hou.se bonds

—

—

—

Borden County

—

—

—

State Auditor on June

—

—

—

offered

on

Mav

28

101 .51 lsa.ac
101 .50
1

W.

Sherrill,

Poughkeepsie.

. -

100.50

—

!

Central School District, St. Louis County, Mo.
Loan
Authorized.
It is stated that the School Board has voted
in favor of borrowing $8,000 for school-building purposes
Bo7id Offering.
Centreville, Wilkinson County, Miss.
Proposals will be received until 7 p. m., July 3, by H. D.
McGehee, Town Clerk, for $12,500 5% school-building bonds.
Denomination $100. Interest annuallj'^ on Jan. 1 in Centreville.
Maturitv $100 vearlv from Jan. 1 1907 to Jan. 1 1925
inclusive and $10,600 Jan. 1 1926.
Certified check for $500,
payable to the Town Clerk, is required. Purchaser to pay

—

—

—

accrued interest.
"Mueller Certificates" to Be Tested in Courts..
Chicago, III.
On June 5 Maj'or Dunne signed the ordinance providing
for the issuance of the 75,000,000 so-called "Mueller Certificates" authorized at the election April 3 1906 for municipal
ownership of street railways. The legality of these certificates will be tested, at once and to this end a bill has been
prepared and filed in the Circuit Court restraining the city

—

—

from issuing these securities.
Chicago (111.) West Chicago Park. Bond Sale. The
West Chicago Park Commissioners have accepted the bid of
$2,000,150 submitted by N. W. Harris & Co. of Chicago on
June 4 for the $1,000,000 4% small park bonds and the
$1,000,000 4% park-improvement and maintenance bonds
mentioned in V. 82, p. 1335.
Bond Offering. Proposals will be reCincinnati, Ohio.
ceived until 12 m., July 10 (postponed from July 6) by
Elmer G. Prior, Clerk Board Trustees "Commissioners of
Water- works," for $250,000 33^% coupon additional waterworks bonds. Denomination $500. Date July 2 1906.
Interest semi-annually at the American Exchange National
Bank. New York City. Maturity July 1 1946, subject to
Certified check on a national bank
call after July 1 1926.
for $5,000, payable to the Board of Trustees "Commissioners
Bidders must use printed form
of Water-works," required.
of proposals furnislied by the Clerk.
Bond Sale.
Claiborne County (P. 0. Tazewell), Tenn.
We are advi.sed that the $75,000 4^% 30-year coupon road
bonds described in V. 82, p. 1169, were awarded on May 28
to Emery, Anderson & Co. of Cleveland for $75,595 and
blank bonds. Bonds are dated April 1 1906.
Bond Sale. We are just
Clinton, Laurens County, S. C.
advised that the $25,000 5% 20-40-year (optional) coupon
water-works and electric-light bonds described in V. 82,
p. 1115, were awarded to the Security Trust Co. of Spartan
burg on May 18.
Coeur D'Alene School District, Kootenai County, Idaho.
Bond Sale.— On June 9 the $14,000 10-20-year (optional)
school-building bonds described in V, 82, p. 1226, were
awarded to the State of Idaho at par and interest for 43^s.

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I

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I

.

June

THE CHRONICLE.

10 190G.

—

—

CoUinwood, Ohio. Bond Sale. According to Cleveland
papers the $45,000 5% St. Clair Street assessment and the
$15,000 5% Collins Avenue assessment bonds offered on
Mav 28 have been awarded to W. J. Hayes & Sons of Cleveland.
See V. 82, p. 1000 for description of bonds.
Columbus, Ohio.— Bond Offering. Proposals will be received until 11:30 a. m. June 19 by Martin A. Gemunder,
Secretary Sinking Fund Trustees, for the following bonds now
the property of the Trustees of the Sinking Fund:

—

$26,000

4%

coupon Indianola, &c., sewer-repair bonds dated April 20 1905. InMaturity March 1 1925, optional after
terest March 1 and Sept. 1.

279,000

4%

coupon Scioto River Storage Dam bonds dated Sept. 1 1905. Interest
April 1 and Oct. 1. Maturity April 1 1935; optional after April 1 1915.

March

1

1915.

Denomination $1,000. Interest payable at the agency of
Certified check
the city of Columbus in New York City.
for 2% of the bonds bid for.fpayable to the SinkinglFund
The opinion of Messrs. Squire, SanTrustees, is required.
ders & Dempsey, approving the bonds as valid and binding
obligations of the city, will be furnished to the successful
bidder.

<?.;

-^

— The

!

•-

•

City Council on May \7 'passed
ordinances authorizing the issuance of the following bonds:

Bonds Authorized.

3.000

4%
4%

coupon Poplar Avenue assessment bonds. Date, not later than Aug. 1
1906. Interest April 1 and.Oct.l. Maturity ten years.
coupon Fulton Street assessment bonds. Date, not later than Sept. 1
Maturity Sept. 1 1916. optional
Interest March 1 and Sept. 1.
1906.

6 000

4%

coupon Madison Avenue assessment bonds. Date not later than Sept. 1
Maturity Sept. 1 1916, optional
Interest March 1 and Sept. 1.
1906.

3 000

4%

coupon Lynn Street assessment bonds. Date, not' later than Sept 1
Maturity Sept. 1 1916, optional
1906. Interest March 1 and Sept. 1

$7 000

8.000
8,000

alter Sept.

1

1907.

after Sept. 1 1907.

after Sept.

4%
4%

1

1907.

coupon sewer-repair bonds. Date, not later than Sept.
Maturity Sept. 1 1916
e.st March 1 and Sept. 1
coupon Dennison Avenue assessment bonds. Date, not
Maturity Sept.
11906. Interest March 1 and Sept 1
.

alter .Sept.

3,000

1

Inter-

190G.

.

4H%

1

later
1

than Sept.

1916, optional

1907.

coupon sewer-asses.sment bonds. Date, not later than Sept. 1 1906.
Maturity Sept. 1 1908, optional after
Interest March 1 and Sept. 1.
Sept.

1

1907.

Denomination $1,000. Interest is payable at the office of
the City Treasurer.
The following bonds were also authorized by the City
Council on May 14:
$14,000

4%

coupon Franklin Avenue assessment bonds. Denomination $1,000.
Date not later than Sept. 1 1906. Interest March 1 and Sept. 1 at the
Maturity Sept. 1 1916, optional after
office of the City Treasurer.
Sept.l 1907.

On May
$50,000

4%

On June
4%
4,000 4%
0,000 4%

$7,000

28 the following bonds were authorized:

coupon street-improvement (city's portion) bonds. Denomination
Interest March 1 and
$1,000. Date, not later than Sept. 1 1906.
Sept. 1 in New York City. Maturity Sept. 1 1916.

4

bonds were authorized as follows:

coupon Carpenter Street assessment bonds. Denomination .$1,000.
Maturity Sept. 1 1916, optional after Sept. 1 1907.
coupon For.sythe Avenue assessment bonds. Denomination $1,000.
M.aturity Sept.

1916, optional after Sept.

1

1

1907.

Denomination $1,000.
coupon Gilbert Street assessment bonds
Maturity Sept. 1 1916, optional after Sept. 1 1907.
2,500 4J^% coupon Sixth Street sewer-ossessment bonds. Denomination $500.
Matvirity Sept.

Date

1

1908, optional after Sept. 1 1907.

bonds authorized June 4 must not be later than
1906.
Interest March 1 and Sept. 1 at the office

of

Sept. 1
of the City Treasurer.

—

Comal County (P. O. New Braunfels), Tex. Bond Sale.—
The $10,000 4% 10-40-year (optional) road and bridge l^onds
recently registered by the State Comptroller (V. 82, p. 1227)
were awarded on May 19, $9,500 to the First National Bank
of New Braunfels and $500 to the Comal County School Fund.
Denomination $500.
annual.

Date April 10 1906.

—

Interest semi-

—

Bonds Proposed. The issuance of $35,000
Cordele, Ga.
water and sewer improvement bonds is being considered.
Corona High School District, Riverside County, Cal. Bo?id
Sale.— On June G the $35,000 5% 11-20-3-ear (serial) highschool-building bonds described in V. 82, p. 1227, were
awarded to N.
Harris & Co. of Chicago at 103.257. Following are the bids:
N. W, Harris & Co., Chiea(;o--S36,140 00 IX. \V. Ilalsev &Co., San Fran. $35, 514 50
Riverside Savings & Trust Co. 35,900 00 John G. North
35.752 50
Los .\nsele3 Trust Co
35,900 OOIS. A. Kean, Chicago
35.385 00
W. R. Staats Co., Pasadena.. 35, .597 001
Coryell County (P. O. Gatesville), Texas. Bond Election
Proposed.
The question of submitting a proposition to
issue $160,000 road-improvement bonds to a vote of the
people is being agitated.
Crawford County Road District No. 1, Ohio. Bottd OfferProposals will be received until 12 m. June 26 by J. I.
ing.
Smith, County Auditor (P. O. Bucyrus), for $20,o6o 5%
coupon road-improvement bonds. Denomination $1,000.
Interest Jan. 1 and July 1.
Maturity July 1 1918. Accrued interest to be paid by purchaser, who will also b(> required to furnish blank bonds. Cash deposit of $100 is
required with each bid.
Bonded debt, including this i.ssue,

—

W

1

—

—

—

—

Asseff-cd valuation $7,136,740.
$155,000.
Crookston, Minn. Bond Sale Not Consummated. We
are advised that the sale of $15,000 5% coupon fire-enginehouse bonds awarded to U. M. Stoddard & Co. of Minneapolis on May 8 has not been consummated, as it has been
found that the proceedings were not held in accordance
with the law. Steps will now be taken to re-authorize the
bonds.

—

—

Crowley Independent School

Tex

— Bond

— Projiosals

District, Tarrant County,

were asked for ve.'^lcrday
E. -Baker, President School Board, for $6,-

OjferiiKj.

(June 15) by W.
600 5% coupon school-building l^onds.
Denomination
Date May 1 1906. Interest annually eitlier at the
$1,100.
office of the State Treasurer or at the National Park Bank
in New York 'City.
Mautrity forty years, subject to call
afterj^twenty^years.

Bonded debt,

this

issue.

Assessed

J

395

valuation for 1906, $204,570. The result of this offering
at the hour of going to press.

was not known

—

—

Denver, Colo. Bond Offering. Proposals will be received
until 11 a. in. June 20 at the office of the Board of Public
Works for the following bonds:
$4,000 5% West Denver Improvement District No. 1 bonds dated June 1 1905.
2,000 5% South Broadway Improvement District No. 2 bonds dated July 1 1905
4.500 6%- North Side District No. 2 bonds dated May 1 1906.
1,500 6% South Capitol Hill Storm Sewer District bonds dated Oct. 1 1905.

Denomination $500. Maturity on or before thirteen j-eari
from date. Certified check on a national bank or trust company of Denver for 2% of the bonds, payable to Charles W.
Badgley, City Treasurer, required. Bonds and interest are
payable at the office of the Treasurer or at the Mercantile
Trust Co. in New York City.
Board of Public Works.

G. E. Randolph

is

President

—

—

—

—

Dickinson, Stark County, No. Dak. Bond Offering.
Proposals will be received until 8 p. m. July 2 by A. J.
Osborn. City Auditor, for $23,000 5% water-works bonds.
Authority Chapter 62, Laws of 1905. Denomination $1,000.
Maturity twenty years. Bonded debt, this issue. Assessed
valuation for 1905, $544,211.
Didsbury School District No. 652, Alb. Debenture Sale.
An issue of $10,000 20-year school-building debentures was
awarded to J. W. Nay of Regina at 107.65 for 6s on May 1.
Following are the bids:
For 6% bonds.
W. Nay. Regina
Haulfam»& Cross, Regina
Alberta Debenture Agency

J.

For 5% bonds.
Nay, Reeir'a
$10,200
10,766 Canada Landed & National Investment Co
10,530'
10,000
I

$10 765IJ.

W

1

The securities are dated July
Interest annually in December.

1906 and Oct.

1

1906.

1

Douglas County School District No. 95 (P. O. Quincy),
Bond Sale.— On June 5 $1,200 1-5-year (optional)
warrant-funding bonds were awarded to the State of Washington at par for 4J^s. A bid of par for 6s was also received
from Wm. D. Perkins & Co. of Seattle. Denomination $600.
Date June 5 1906. Interest annual.
Easthampton, Mass. Note Sale. This town on June 1
awarded $13,500 4% sewer-extension notes to Jose, Parker
& Co. of Boston for a premium of $433. Denomination
Date June 1 1906.
$1,000 except one bond for $500.
Maturity $6,000 June 1 1924
Interest June and December.
and $7,500 June 1 1925.
East Orange, N. 3.—Bond Sale.— On June 11 the $40,000
4% 30-year coupon water bonds described in V.'82,!p. 1282,
were awarded to Clarke, Grannis &jLawrence of New York

Wash.

—

—

Following are the bids:

City at 103.665.
Clarke. Grannis

New York

&

—

|A. B. Leach &Co., New York. $41, 230 80
$41,466 00 J. D. Everitt & Co., New York 41,125 50
41.008 00
Y.. 41,271 20|H. K. Stokes, New York

Lawrence,

1

H.L. Crawford*

Co., N.

KountzeBros., New York
41,244 44 J. S. Rippell
R. M. Grant & Co.. New York. 41,232 OOlSpitzer &Co., Toledo

41.000 00
40.253 00

I

Ohio. — Bond Offering. — Proposals

Eaton, Preble County,
be received until 1 p. m., June 23, by Charles F. Ressler,
Village Clerk, for $3,000 4% coupon street-improvement
bonds. Denomination $500. Interest March 1 and Sept. 1.
Maturity $500 yearly on Sept. 1 from 1907 to 1912 inclusive.
Accrued interest to be paid by purchaser. Certified check
will

5% required. Bonded debt, including this issue, $38,700.
Assessed valuation for 1905, $2,000,000.
Evanston, Uinta County, Wyo. Bond Offering. Proposals will be received until 12 m., July 2, by William Cook,
Town Clerk, for the $24,500 sewer-construction bonds voted
on May 8. Authority, Section 1736, Chapter 19, Statutes of
Denomination $500 or $1,000. Date July 1 1906.
1899.
MaInterest not to exceed 6%, payable semi-annually.
Bonded
turity twenty years, subject to call after ten years.
Assessed valuation
debt, not including this issue, $41,000.
for 1906, $664,190.
Proposals will be reFairbury, Neb. Bond Offering.
ceived until 12 m., July 10, by F. L. Rain, City Clerk, for
$10,000 5% sanitary-sewer-main bonds. Denomination
$100.
Date June 1 1906. Interest semi-annually at the
Maturity June 1 1916, subject
oflJicc of the City Treasurer.
Certified check for $200, payable
to call after June 1 1911.
to F. L. Rain, City Clerk, required.
Temporary Loan. The City Treasurer
Fall River, Mass.
recently borrowed $100,000 for' 5 months from Loring, Tolman & Tupper of Boston at about 43^% discount.

for

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— We

No Bond Election.
Fitzgerald, Irwin County, Ga.
are informed that the matter of calling an election to vote
on the question of issuing the $30,000 higli-scliool-building
bonds, mention of wliich was made in V. 82, p. 947, has been
dropped.
Forsyth,

Monroe

County,

Ga.

— Bonds

Defeated.

—The

proi)()sition to issue the $5,000 teleplione bonds mentioned
in V. 82, p. 1336, was defeated on June 12 by a vote of 62 for
to 76 again.st.

—

Fort Bragg School District, Mendocino County, Cal.
Bonds Not Sold. No bifls were receiv(Ml on .lune 5 for $5,000
5% bonds ofTcred on tliat day.
Franklin County (P. O. Carnesville), Ga. Bonds Voted.
By a vote of 1940 to 48 this county on June 9 autliorized the
Maturity
issuance of $.50,000 4^^% court-house bonds.
from 190St() 1928 inclusive.
Fremont, Ifeh. --Bond Offering. Proposals were asked for

—

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—

—

until 7 p. in. vesterdav (June 15) by S. F. Stiles, City Clerk,
for $10,000
.5-20-vear (optional) registered water-works

5%

bonds.

Denomination $1,000.

Date July

1

1906.

Inter-

thp: chronicle.

1396

est aiiiiiuilly at tlic fiscaHagcncy in Now York City.
the liour of going to press the result of this offering was

At
not

—

Bond Election Proposed. A petition is being circuhited for
a special election to vote on tlie question of issuing $50,000
water and liglit-plant-iniprovement bonds.

—

—

Fremont, Ohio. Bund Offering. Proposals will be received until 12 ni. July 10 by the City Auditor for the following bonds:
910,400 4% Timn
15,000

4%

I-.,

E6,400

4%

,1,

2,500

4%

13,769

4%

Strpct jjavins bonds dated June 15 1900.
Denomlnallon S500
except one bond for $400. .Maturity $500 each six months from .^pril 1
1907 to April 1 191() inclusivcan ilS'JOO Oct. 1 1916.
I'ront Street ijavins bonds dated .June 15 1906.
Denomination S500.
.Maturity $500 April 1 and $1,000 Oct. 1 from April 1 1907 to Oct. 1
1910 inclusive.
South -Ajch Street pavinc bonds dated June 1 1900. Denomination
$250 e.xceptlng one bond for $150. .Maturity S250 each six months
from April 1 1907 to Oct. 1 1910 inclusive. exceptUiK Oct. 1 in each of
the years 190S, 1910, 1912 and 1914, when $500 is due, and $350 Oct. 1
1910.
AVhite .\venue pavins bonds dated June 15 1900. Denomination S125.
Maturity $125 each six months from .\prll 1 1907 to Oct. 1 1916 inclusive.
Franklin Street pavint' bonds dated June 1 1906. Denomination S500
cxceptine one bond for $269. .Maturity $500 each six months from
-Vpril 1 1907 to Oct. 1 1916 inclusive, excepting; Oct. 1 1907, Oct. 1 1909,
.A.pril 1 1911. Oct. 1 1911. Oct. 1 1912, Oct. 1 1914, Oct. 1 1915. April 1
1916 when $1 OOOLsdue, and Oct. 1 1916. when $269 is due.

Interest April 1 and Oct. 1 at the office of the Sinking
Fund Trustees. Certified check on some bank in Fremont
for 10% of the bonds bid for, payable to the City Treasurer,
is required.
Purchaser to pa}' accrued interest.

Gadsden, Ala.

—Bond

—

4yj% coupon .MonroeZandlHiirrlHonlTownshlp road-Improvement No. 25

$8,500

414%

9,000

known.

[Vol. lxxxii.

bonds. Denomination $500. Maturity $500 each six months from
Jan. 1 1907 t<j Jan. 1 191,o Inclusive.
couiKjn Liberty Townsliii) roa<l-improveracnt No. 42 bonds.
Denomination $1,000. Maturity $1,000 yearly on July 1 from 1907 to 1915

»•!
IndUBlvc.
13,000 4><;% coupon Marlon and Plea.sant Townships road-Improvement No. 43
bonds. Denomination $1,000. Maturity $1,000 yearly on July 1
from 1907 to 1911 Inclusive and $1,000 each six months from Jan. 1
1912 to July 1 iyi5lnclu.sivc.
13,000 4'A
coupon Pleasant Township road-Improvement No. 44 bonds. Denomination $1,000.
Maturity $1,000 yearly on July 1 from 1907 Uj 1911
inclusive and $1,000 each six months from Jan. 1 1912 to July 1 1915

%

inclusive.

20.000 4H'/c coupon liartlow and llichtleld Townships road-lmprovcmenl No. 45
bonds. Denomination $1 000. Maturity $1,000 each six months
from Jan. 1 1907 to July 1 1914 Inclusive. $2,000 Jan. 1 1915 and $2,000
July 1 1915.

The above bonds will be dated July 1 1906, Interest .semiannual.
Bids must be made separately for each block of
bonds. Check for $1 ,000, certified by the Finst National Bank
or Citizens' State Bank of Napoleon, required.'
Proposals will .also be received at the same time and place
for the following bonds:
$17,000 4)4% coupon Dama.scus and Richfield Township ditch-improvement No.
2.000

4H%

1074 bonds. Denomination $1,000. Maturity $1,000 Jan. 1 1907
and $2,000 each six months from July 1 1907 to Jan. 1 1911 inclusive.
coupon Washington Township ditch-improvement No. 1112 bonds
Denomination $500. Maturity $500 yearly on July 1 from 1907 to
1910inclusive.

Authority Sections 4479, 4481 and 4482 of the Revised
Statutes.
Date July 1 1906. Interest semi-annual. Separate bids to be made for each block of bonds.
Check for
$500, certified bj' the First National Bank or Citizens' State
Bank of Napoleon, required.

Sale Annulled.
Judge Albert C.
Hinton School District, Plymouth County, Iowa. Bond
United States District Court in Cincinnati
on June 9 made an order canceling and annuling the contract Sale. This district recently awarded $2,500 6% schoolMaturity on Jan, 1 from 1908
entered into last September with the A. L. Rich Co. of Cin- house bonds to a local bank.
cinnati for the sale to that firm of $100,000 water $30,000 to 1910 inclusive.
sewer and .$20,000 street bonds. Before the aboA^e sale was
Hope School District, Bartholomew County, Ind. Bond
consummated and the bonds paid for, the Cincinnati firm was Sale. This di.strict, we are advised, has di.?posed of the
placed in the hands of a receiver, owing to the alleged dis$5,000 school-house bonds mention of which was made in
covery of forgeries by a member of the firm. The Mayor of
V. 82, p, 408.
Gadsden petitioned the District Court to annul the contract
Horseheads Union Free School District No. 10, Chemung
in order that the bonds may again be advertised.
Bond Election. An election will be held June 18 to vote County, N. Y. Bond Offering. Proposals will be received
on the question of issuing $15,000 5% 30-year school bonds, until 8 p. m,, June 22, by John D. Curtis, Clerk Board of
Education, for the $18,000 4% registered school-building
Gallia County (P. O. Gallipolis), Ohio.
Bond Offering.
Proposals will be received until 1:30 p, m. July 3 by F. F. bonds offered but not .sold on May 22 (see V. 82, p. 1282).
Thornley, County Auditor, for $55,000 4% coupon turnpike Denominations $1,000 and $800. Interest June 1 and Dec. 1
bonds. Denomination $1 ,000. Date June 1 1906. Interest semi- at the National Bank of Commerce in New York City.
annually at the office of the County Treasurer. Maturity Maturity $1,800 yearly on Dec. 1. Certified check for $500
June 1 1926. Certified check for 5% of bonds bid for, pay- requirecl.
able to C. W. Kerr, County Treasurer, required,
§C^Houston, Tex. Bond Election.
An election has been
Gallup, McKinley County, N. TUL.—Bond Sale.— This town called for June 21 to vote on the question of issuing $434,700
recently disposed of at i:)rivate sale the $10,000 5% 20- 5% 40-year bonds for the purposes of acquiring the system
30-year (optional) water-works bonds (offered but not sold of the Houston Water Co. in accordance with the vote taken
on Jan. 5) to C. H. Coffin of Chicago at par and accrued at the election held Mayjl?. See V. 82, p. 1227. As already
interest.
Denomination $1,000. Date Jan. 10 1906. In- stated in the "Chronicle," the city is to pay $434,700 cash
for the plant, the property being subject to a lien existing
terest January and July.
thereon to secure bonds issued by the Houston Water Co.
Gibsonburg, Sandusky County, Ohio. Bond Offering.
in the sum of $467,000.
These water company bonds are
Proposals will be received until 12 m., July 2, by W, O, Dipnot to be assumed by the city of Houston but will remain as
man, Village Clerk, for $8,988 30 4% South Main Street a direct lien on the
property.
assessment bonds. Denomination $898 83. Date July 2
Jefferson County (P. O. Steubenville), Ohio. Bond Offer1906.
Interest annual.
Maturity $898 83 yearly on July 2
from 1907 to 1916. Accrued interest to be paid by pur- ing. Proposals will be received until 2 p, m. Julj- 9 by J. M.
chaser.
Certified check on some bank in Sandusky County Reynolds, County Auditor, for $100,000 4%, funding bonds.
for 10% of the bonds bid for, payable to the Village Treas- Authoritv Sections 2834a and 22b of the Revised Statutes.
Denomination $500. Date July 1 1906. Interest March 1
urer, required.
All bids to be unconditional.
Gloucester, Mass. Bond Offering.
Proposals will be re- and Sept. 1 at the office of the County Treasurer. Maturity
ceived until 5 p. m. June 19 by the Committee on Finance, $12,500 each six months from March 1 1907 to Sept. 1 1910
Each bid must be made on a blank form furcare of Edward Dolliver, City Treasurer, for $50,000 4% inclusive.
coupon municipal-loan bonds. Denomination $1 ,000. Date nished by the County Auditor and must be accompanied by
June 1 1906. Interest semi-annual. Maturity $5,000 yearly a certified check (or cash) for $500 payable to the County
on June 1 1907 to 1916 inclusive. Purchaser to pay accrued Commissioners. Delivery on or before July 14.
interest.
Kalamazoo, Kalamazoo County, Mich. Bond Offering.
The opinion of Messrs. Ropes. Gray & Gorham as
to the legality of the bonds -will be furnished the successful Proposals will be received until 6 p, m. June 18 by Horace
bidder.
E, Ralston, City Clerk, for the following bonds:

Thompson

of the

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Greenville,
Butler County, Ala.—Bond Election.— A.
propo.sition to i.ssue $30,000
30-year sewerage and streetimprovement bonds Avill be submitted to the voters of this
city on June 18.

5%

Hardwick School
Sale.

— This

District, Rock County, Min-a.—Bond
district recently disposed of an issue of school

bonds.
Harrison, Sioux County, Neh.—Bonds Fofec/,— This village,
it is stated, recently authorized the issuance of $3,500 waterworks bonds.

—

$84,000 4*^ improvement bonds. Denomination $1,000.
84,000 4't street-improvement bonds. Denomination SI. 000.
3,500 4 '"o street-improvement bonds. Denomin.ation $500.

—

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Kalispell, Flathead County, Mont.
Bond Offering. This
city will sell at public auction at 2 p. m., June 23, $20,000

43^%

refunding bonds.

Denomination $500.

Date July

1

1906. Interest semi-annually on Jan. 1 and Julj^ 1. Maturity
Oct. 1 1915.
These bonds w^ere offered without success on
April 9.

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Kearney County (P. O. Minden), Neb. Bond Sale. On
June 11 the $80,000 4% coupon court-house and jail bonds
described in V, 82, p, 1227, were awarded to the State Board
Haverhill, Mass.— Bond Offering.
Proposals will be received until 10 a. m., June 18, by Arthur T, Jacobs, City of Education at 100.50.
Keith and Lincoln Counties Irrigation District (P. O.
Treasurer, for $30,000 4% coupon bonds.
Denomination $1,000.
Date April 1 1906. Interest semi-annually at Sutherland), Neb. Bond Sale. This district recently
the First National Bank in Boston.
Maturity $3,000 yearly awarded $2,000 of the $11,400 6% bonds not sold on April
2 (V. 82, p. 1062) to Helen M. White of North Platte for
on April 1 from 1907 to 1916 inclusive.
Hempstead Union Free School District No. 20, Nassau $1,900,
County, N. Y. Boiid Offering. Proposals will be received
Kincardine, Ont. Debenture Sale. We are advised that
until 4 p, m. June 23 by EdAvard T. Talfor, Clerk Board of the $8,500 4% high-school debentures described in V.*S2,
Education (P. O. Lynbrook) for $10,000 4% scliool-building p. 1170, w^ere awarded on May 23 to Wm. C. Brent of
bonds.
Denomination $500. Interest semi-annually at the Toronto for $7,839 60 and 5 months' accrued interest. ,-i
Bank of Rockvillc Centre, Maturity $500 vearly on Dec. 31
Kitsap County School District No. 21, Wash. Bond Sale.
from 1915 to 1934 inclusive. Certified check for $1,000, The County Treasurer on June 5 awarded $300
4}4% bonds
payable to the Board of Education, is required.
of this district to the State of Washington at par.
Henry County (P. O. Napoleon), Ohio.— Bond Offerings.
Kitsap County School District No. 42, Wash. Bond'Sale.
Propo.sals will be received until 1 p, m. June 19 by F. J, Beck,
On June 2 $5,000 4)^% bonds were purchased by the State
County Auditor, for the following bonds:
of Washington at par.
;.,..', •.
^jvl^^j^.^..^
i.

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June

THE CHRONICLE.

16 1906.

—

Bond Offering.
(P. O. Ironton), Ohio.
be received until 12 m. June 28 by the
County Commissioners for $130,000 4% coupon courthouse bonds. Authority, page 117, Laws of 1904. Denomination $1,000. Date March 1 1906. Interest semiannually at the County Treasury. Maturity $5,000 each
six months from March 1 1921 to Sept. 1 1933 inclusive.
Certified check for 2% of the amount bid, payable to the
County Treasurer, is required. Delivery of bonds on or
before July 12. As stated in V. 82, p. 1283, these bonds
were offered on May 24 as 3.65 per cents, but not sold.
Lawrence County

— Proposals

will

—

Shasta Road District,

Siskiyou County, Cal.
Bids.
The following are the bids received on June 1 for
the $52,000 6% Little Shasta Permanent Road Division
bonds awarded, as stated in V. 82, p. 1336, to S. A. Kean &
Co. of Chicago, subject to his investigation as to the legality
of the bonds:
Little

—

S.

$52,780 |C. H. Coffin, Chicago

A. Kean, Chicago

—

$52,781

Lykens Township School District, Crawford County, Ohio.
Bond Offering. Proposals Avill be received until 12 m. July

—

by

Rolla L. Norris, Clerk Board of Education (P. O. BloomAuthority
ville, R. F. D. No. 2), for $3,000 5% bonds.
Section 3994 of the Revised Statutes. Denomination $600.
Maturity $600 eacli six mouths from
Interest semi-annual.
March 1 1907 to March 1 1909 inclusive. Delivery on or
before July 16.
McKeesport, Allegheny County, Pa. Bond Sale. On
June 8 the $200,000 4% 5-30-ycar w-ater-improvement bonds
described in V. 82, p. 1228, were awarded to Lamprecht
Bros. & Co. of Cleveland at 100.50.
McKees Rocks, Pa. Bond Offering .—Fvoposals wall be
received until 8 p. m. June 19 for $125,000 4% bonds.
Denomination $1,000. Interest semi-annual. Bonds are
free from State tax.
C. C. Keck is Borough Treasurer.
Manhattan School District, Riley County, Kan.^ Price
Paid for Bonds.— We are informed that the $12,000 4%
4-20-year (optional) school-building bonds, the sale of which
was mentioned in V. 82, p. 1002, were aAvarded to O. C.
Earner at par. Denomination $500. Date May 1 1906.
Interest annual.
Marcell, Itasca County, Minn. Bond Offering.
Proposals
will be received until 12 m., June 22, by John Lundeen,
Town Clerk, for $2,500 6% bonds. Denomination $250.
Maturity ten years. Certified check or draft for $100 required
Marion, Marion County, Ohio. Bond Offering. Proposals will be received until 3 p. m. June 18 by S. D. Quigley,
City Auditor, for the following bonds:
2

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.

$8,000

4%

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Columbia Street paving

Denomination SI ,000.
(city's portion) bonds.
Maturity $1,000 each six months from March 1 1909 to Sept. 1 1912
inclusive.

400 4!'2% Franklin Street paving (city's portion) bonds. Maturity M.arch 1 1909.
500 4!4% Bradford Street paving (city's portion) bond. Maturity March 1 1909.
4,000 4% High and Mary Streets improvement bonds. Maturity $1,000 each six
months from March 1 1908 to Sept. 1 1909 inclusive.
25,000 4% refunding assessment bonds. Denomination $1,000. Maturity $1,000
each six months from March 1 1907 to Sept. 1 191.3 Inclusive, SI, 000
March 1 1914, and S2,000 each six months from Sept. 1 1914 to
Sept. 1 1916 inclusive.

The street bonds are issued under authority of Sections
2835 to 2837 inclusive of the Revised Statutes and the
refunding bonds under Section 96 of the Municipal Code.
Date March 1 1906. Interest payable at the City Treasury.
Certified check for 5% is required.
Marquette, McPherson County, Kan. Bonds Voted.
The election held May 25 resulted in favor of issuing $12,000
water and light-plant bonds.
Massillon.rOhio. —5o7ic?s Defeated.— The $40,000 city-hall
bonds mention of which was made in V. 82, p. 1228, were
defeated at the election held on May 29.
Mayfield Township School District, Cuyahoga County,
Ohio. Bond Election.
A special election will be held June
18 to vote on the cjucstion of issuing $8,000 school-building
bonds.
Mayville, Tuscola County, Mich. Bond Offering.
Proposals will be received until June 25 for $7,000 5% 8'-14-vear
(serial) bonds.
Denomination $1,000. Date July 1 1906.

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Interest annual.

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Meadville, Crawford County, Pa. Bond Sale.— On June 6
the $58,000 4% 15-30-year (optional) bonds described in
V. 82, p. 1283, were awarded as follows:
.John II. Ileitze (S.W.OOO)

104 .Wl Firemen's Relief Ass'n.-fSl.OOO-. 104.00
Mrs. B. L. BUim (S:i,(U)0)
104.00
\ 1.000-. 105.00
Crawford Lodge, I.O.O.F. (S2,000)104.00| W. J. Hank ($500).
104.00
|A. A.Gallup ($500)

104.00

H. Reitze

(tor $50,000)

104.80

Crawford Lodge, I.O.O.F. (5.3.000)104.00
Mrs. B. L. Blum (for $5.000)
104.00
Firemen's Relict .issn for $1,000,104 (JO
(for

1,000.105.00

W. J. Hank. Mpndvil]e(for$l. 000)104 .00
(for S500)-104.00
New First National (for
103.45
Bank. Me.advillc. Uor $.30,000,104.05
Freehold Loan & rust o
...103.50

A. .\.Galltir), Meadville

.

'ill

_

Albert C. Case, New York
102.75
.John Lahay, Meadville (for $500). 102 .40
Haydcn, Miller & Co.. Clcveland-102.1(':!
nucloli)li Klcvbolte & Co., X. Y-.102.075
.John Schulz (for $1 ,500)
lOJ .00
Mrs. V;. Haas,MendvJllo(forS.500.)10-'.00
|H. M. Dick.soti. Meadville.
10 1..";
I

Denlson & Farnsworth, ClevelandlOI .31
N. W. Harris & Co., New York. .101 .283

Kdward \'. Kane it Co., Phila.-.lOl .03
Wcstling, .Jones <t i:mnictl. Tliila.103.01 7 .Jacob MctzEcr. Meadville ($1,000) 101 00
A. W.Brcsl, Meadville (for .S_' 000) 10.3.00
\. Kean. Chicago.
100,40
Crawford Co. •trust Co., Meii(lvillcl02.V51 (Jtls& Hough. Cleveland...
lOO.L'Sl
Merchants' National Bank, MeadW. .1. Hayes & Sons. (Ueveland. .100.00
ville (tor $25,000)
102 .85 T. K. Henrietta, Meadville (for
C.S.Burwcll,Mea(lvllle(forS15.000)102.7n
-.100.00
$1.000)
'I

(

.

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Meridian, Miss. Purchase of Water Plant.
Local papers
state that the offer of the city to purchase for $2,50,(()() the
whole water-works jiropcrty of the Meridian Water Works
Co., including realty, water rights, office fixtures, as well as
the rclinciuishment of all claims, has been accepted by that

397

company. It is understood that municipal operation commenced on June 1.
Bonds Voted.— This city, it is stated, authorized the issuance of $35,000 school-building bonds on May 23 by a vote
of 193 to 14.

Milan
Voted.

School

District,

Mo.—Bonds

County,

Sullivan

— The election May 5 resulted in a vote of 176 to 10 in

favor of issuing the $9,000 4% 5-20-year (optional) schoolbuilding bonds mentioned in V. 82, p. 1063.
These bonds,
we are informed, will be offered in about twenty days.
Milbank School District, Grant County, S. D. Bond Sale.
—This district recently awarded $16,600 5% 10-20-year
(optional) school-building bonds to the State of South DaDate of bonds July 1 1906. Interest January
kota at par.

—

and Jul}^

—

School

District, Iroquois County, 111.
Bonds
this district authorized the issuance of
school-building bonds by a vote of 50 to 14.
$12,000
Maturity $1,000 yearly from 1914 to 1925 inclusive. Date
of sale not decided.

Milford

Voted.— On June 9

5%

Molena, Pike County, Ga.

—Bond Offering. —This town
6%

offering at private sale the $4,000

Monroe County

is

1-10-year (serial)
Bonds are dated

school-building bonds voted on April 28.
June 1 1906. W. M. Jordan is Town Recorder.

—

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(P. O. Woodsfield) Ohio.
Bond Sale.
$135,000 43^% court-house bonds w^ere
Lamprecht Bros. & Co. of Cleveland at 100.822
awarded
and accrued interest. Following are the bids:
Lamprecht Bros.& Co.. Cleve..o$136,110| W. ,1. Haves & Sons, Cleve...a$136,911
Havden, Miller & Co., Cleve... al39,050! Emery, .\nderson & Co., Cleve. al36,357
Weil Roth & Co., Cincinnati.. ol37, 727 Cincinnati Trust Co Cincinnati 136.020
al36,009
Denison & Farnsworth, Cleve.. al37, 038 [Monroe Bank. AVoodsfleld

On June

8
to

,

the

1

a

And

We

accrued interest.

are informed that only two of the above bids were
accompanied by the reriuired deposit.
Montezuma, Poweshiek County, Iowa. Bond Sale. This
city has disposed of the $5,000 additional water bonds re-

—

—

See V. 82, p. 409.
District, Ohio.
Bond Election. An
election will be held June 26 to vote on the question of
issuing $90,000 school-building bonds.
Murray and Clarendon Union Free School District No. ,7
Orleans County, N. Y.—Bond Sale.— On June 12 the $18,000
4% 9 5-6-year (average) school-building bonds describe(l in
V. 82, p. 1337, were awarded to the Ellenville Savings
Bank of Ellenville for $18,010.
Nacogdoches County Common School District No. 23,
Tex. Bond Sale. This district recently awarded the $500
5% 10-year school-building bonds mentioned in V. 82,
p. 1002, to Nacogdoches County at par.
Napoleon, Ohio.— Bond Offering. Proposals will be received until 12 m., July 16, by F. W. Hilgendoff, Village
DeClerk, for $12,000 43^% coupon refunding bonds.
nomination $500. Date June 15 1906. Interest March and
September at the office of the Village Treasurer. Maturity
25 years. Bonds are exempt from taxation. Certified
check or New York draft for $500, paj^able to the Village of
Napoleon, required.
Napoleon Union School District, Henry County, Ohio.
Bond Election.— An election will be held June 18 to vote on
the question of issuing $10,000 additional school bonds.
ChanceWov
Nashville,
Tenn. Bond Issue Enjoined.
Allison on May 24 granted a restraining order' preventing
the delivery of $1,000,000 bonds voted in 1901 in aid of
the Nashville & Clarksville RR., now Tennessee Central RR.
It is claimed, among other things, that the Tennessee Central
has failed to complv with the contract entered into with
the Mayor and City Council.
V. 81, p. 739; V. 76, p. (1419.
Bonds Authorized. The Finance Committee of the City
Council has directed the City Recorder to advertise for sale
the $150,000 4J^% coupon Commerce Street extension
bonds ^T)tpd at tlie election held May 3.
New Bremen School District, Auglaize County, Ohio.
Bonds Defeated. Local papers state that a proposition to
issue $10,000 school bonds was defeated at a recent election.
Newburyport, Mass. Temporary Loan. A six months
loan of $75,000 has been negotiated with F. S. Moseley &
Loan matures Dec. 7
Co. of Boston at 4.65% discount.
cently voted.

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Mount Vernon School

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—

—

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—

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—

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1906.

New Hope, Bucks
issuance of $6,000
sider(*d.

Following are the bids received:
.lohn

J

New

—

—

Bonds Proposed. The
20-year street bonds is being con-

County, Pa.

43^%

—

—

The LouisiOrleans, La. Bond Bill Passes Se7iate.
IVIay 30 passed a bill authorizing NeAV Orleans
to issue $8,000,000 sewerage and drainage bonds.
New Rochelle, N. Y. Bonds Authorized by Legislature.
The State Legislature has authorized this city to issue $50,000
The Act is known as Chapter 546,
fire-department bonds.
ana Senate on

—

Laws

of 1906.

—

—

Bonds Defeated. This city on June 6
I.
defeated propositions to i.ssuc $50,000 .sidewalk and $10,000
At the same election the electors adopa.sylum-site bonds.
ted a new city charter which will go into effect on Jan. 1 next.
New York State.— 7^o?;</ .sV//r.— On June 14 the $1,000,000
3% canal bonds described in V. 82, p. 1171, were awarded
to Fisk <t Robinson of New York City at 101.13— a basis of
about 2.957%. Following are the bids:
Newport, R.

THE CHRONICLE.

1398
FUk A Robinson

Jl,000.000@101.13l

Nat'l Bank,
Dunkirk
15.000® 101
Hamilton Trust Co..

Wm. A Read &
New York

Mcrcliunts'

Brooklyn
Albany Trust
bany

National

Biuik, Troy
100.000(3) 100. f>0 Caual Debt Sink.

Fundi. 000. 000(«) 100.00

Al-

25 000@100.501

Mich. — Bond Sale. — Thi.s citv ivwardod

Niles,
la.st Deecinbcr .$20,000 4>^% paving bonds to ^pitzer & Co. of Tok'do
Dciioniiiiation .$1,000.
Interest Fobruarv and
at par.
August. Maturity .$4,000 yoarly from Fob. 1 1907 to'Fcb. 1
1911 inclusive. VV(! give this sale simply as a matter of

record

— Bond Offering. —

North Branch, Chisago County, Minn.

Vol. Lxxxn.

Wood Uundy &. Co.. Toronto a$9.063 Ameliu.^ Jarvin & Co.. Toronto
Geo. A..SlInwonA Co., Toronto.. 9.655 Can. Secur.. Lt4.. Toronto
Wm. C. Brent. ToronU)
a9.619l

aS9 587
a9.582

_-.75.0()0("'100.()0

I

1

Co.

Co..

$100,000® 100.53

.00 Manufacturers'

I

Proposals will be recei\'ed until S ]>. ni., .July 7, b}- the Village
Council for $4,500 53/2% coupon improvement bonds.
Authority. Chapter 10, Laws of 1905; al^o election held
March 13 1906. Denomination $500. Date Aug. 15 190G.
Interest annually at the Merchants' State Bank in North
Branch. Maturity twenty years. Successful bidder to
Jacob Rydell is Village Recorder.
furnish blank bonds.

a

And accrued

Interest.

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—

Ponca, Kay County, Okla. Bond Election. We are informed tliat a j)roj)osition to i.ssue $15,000 sewer bonds will
be voted on about July 15.
Provo, Utah. Bonds Voted and Sold. This city on June 5
by a vote of 6 1 to 1 4 authorized the issuance of $35 ,000 4 3^
water- works bonds.
The.se .securities have been sold to
E. H.- Rollins & Sons of Denver.
Denomination $1,000.
Date June 1 1906. Interest semi-annually at Provo, Utah,
or at E. H. R(jllins & Sons of Boston.
Maturity June 1 1926,
subject to call after June 1 1916.
The.se bonds take the place

—

—

%

1

of tho.se awarded last November to N. W. Harris & Co. of
Chicago, but which were subsequently declared invalid by
the District Court
Pulaski School District, Oswego Coimty, N. Y. Bond
Sale.— On June 12 the $16,000 4% 9.9-year (average)
school-building bonds described in V. 82, p. 1338, were
Northbridge, Mass. Temporary Loan. The Treasurer of awarded to the Oswego City Savings Bank of Oswego for
this town recent!}' borrowed $10,000 at 4.625% discount. $16,101.
Loan matures Oct. 5 1906 and was made in anticipation of
Putnam County (P. O. Brewster), N. Y. Bond Offering.
the collection of taxes.
Proposals will be received until 12 m. June 25 by Edward
»
Omaha, Neb.— 5onrf Sale.— On June 11 the $60,000 4%
D. Stannard, County Treasurer, for $20,000 4% building
20-ycar coupon fire-engine-house and site bonds dated
Interest Feb. 1 and Aug. 1 at the office of the
Jan. 1 1906 and described in V. 82, p. 1284, were awarded bonds.
These County Treasurer or at the Farmers' Loan & Trust Co.,
to Blodget, Merritt & Co. of Boston for $60,712 80.
are the same bonds awarded last December to J. L. Brandeis New York City.
Maturity $2,000 yearly on Aug. 1 from
& Sons of Omaha. This sale, however, was never con- 1907 to 1916 inclusive. Certified check for
2% of issue
summated, as a question arose as to whether the city could
Bonds will be delivered Aug. 1 1906.
vote on two propositions as one the fire-engine liouse and required.
A friendly suit was brought and the
the site for the same.
The official notice of this bond offering will be found among
Supreme Court has decided in favor of the bonds. On ac- the advertisements elsewhere in this Department.
count of the delay pending the outcome of the suit, J. L.
Puyallup School District, Pierce County, Wash. Bond
Brandeis & Sons were released from their contract to pur- Sale. The $30,000 funding bonds voted at the election held
The bids received at the sale of June 11 April 21 have been sold to the State of W^ashington.
cha.se the bonds.
were as follows:
Quincy, Logan County, Ohio. Bond Offering. ProBlodget, Merritt & Co., BcstonSeO, 712 80|Spitzer & Co., Toledo
$60,455 50
R. L. Day &Co.. New York.. 60.684 60 W. J. Hayes & Sons. Cleveland 60,018 00 posals will be received until 12 m., July 3, by E. E. Binsgar,
Rhoades & Co New York
60, 460 20
Village Clerk, for $2,000 4i^%, Miami Street sidewalk
Bond Sale. On June 8 $50,000 4% inter section-paving (village's portion) bonds. Authority, Section 2835 of the
bonds were sold to the School District of Omaha at 101.002. Revised Statutes. Interest semi-annual. Purchaser to
Denomination $1,000. Date July 1 1906. Interest semi- pay accrued interest. Certified check for $100, payable to
Maturity July 1 1926.
annual.
the Village Treasurer, is required.
Red Bank, N. J.—Bond Sale.— The $41,380 4% coupon
Otero Irrigation District, Otero County, Col. Bond OfProposals will be received until 10 a. m. July 2 by sewer bonds described in V. 82, p. 1117, have been awarded
fering.
Geo. A. Kilgore, Secretary (P. O. La Junta) for $160,000 6% to H. L. Crawford & Co. of New York City.
coupon reservoir bonds. Authority Chapter 113, Laws of
Richmond, Va. Price Paid for Bonds. -We are informed
1905.
Denominations: 100 bonds of $100 each and 300 bonds that the price paid for the 4% 34-year refunding bonds
Interest June and December in La Junta and mentioned in last week's issue was as follows: $25,000 to
of $500 each.
New York. Maturity from eleven to twenty years. Bonded Judge Roger Gregory at 105 and $79,000 to J. L. Williams
debt, including this issue, $460,000.
& Sons at 103.35. Other bidders were:
..103.28
Painesville, Lake
Ohio. Bond
On June 11 Thos. Branch &Co.. Richmond. -.101. 50 R. W.Maury (tor $10,000)

—

—

—

—

—

—

—

—

—

—

i

.

,

—

—

—

—

—

County,

Sale.

—

—

1

Davenport

&

Co.,

Richmond

101.501

—

—

the $20,000 4% coupon street-improvement bonds described
River Rouge, Wayne County, Mich. Bonds Not Sold.
in V. 82, p. 1171, were awarded to the Security Savings The highest bid received on June 14 for $150,000
43^% 30Bank & Trust Co. of Toledo at 101.20 and accrued interest. year sewer bonds was an offer of $685 premium made by
Following are the bids:
Bids were rejected.
E. H. Rollins & Sons of Chicago.
Sec. Savs. Bk. & Tr. Co.. Tol. $20,240 OOiSeasongood & Mayer. Cincin-.S20.162 00
Denomination $1,000. Date Julj^ 1 1906. Interest semi-

Dollar Savs. Bk. Co

N. W.Harris

Bond

,

& Co.. Cleve-. 20,131 00
20,212 00| Lamprecht Bros. &Co.. Cleve. 20,101 25

Painsev 20.230 00] Hayden, Miller

& Co.. Cliicaso.-

Election

Proposed.

— It

stated that the City
submit to a vote of the people

Council is taking steps to
propositions to issue $75,000
river-bank-repair bonds.

is

filtration-plant

and $10,000

annual
Rockford, Mercer County, Ohio. Bond Offering. Proposals will be received until 12 m. June 26 by F. W. Miller,
Village Clerk, for the following bonds:
.

5.000

4H%
4H %

2,000
2,000

4V5%

—

Paterson, N. J. Bond Offering.
Proposals will be received until 3:30 p. m., June 20, by John J. Brophy, Clerk,
at the office of the City Treasurer, for $36,000 4% coupon
school bonds.
Denomination $1,000. Date June 1 1906.
Interest .semi-annual.
Maturity June 1 1931. Certified

—

4!^% coupon Main

S8.000

4^%

Palestine, Tex.—Bonds Registered. —The $20,000
20-40-year (optional) school-house bonds awarded on April 16
to Spitzer & Co. of Toledo (see V. 82, p. 1003) were registered by the State Comptroller on June 1

—

1-S-year (serial) coupon

Main

Street

improvement

(village's portion)

bonds.
1-5-yc.ar (serial)

coupon Market Street improvement

(village's portion)

bonds.
Street sewer (village's portion) bonds. Maturity SI, 000
in nine years .and SI, 000 in ten years.
coupon Market Street sewer (village's portion) bonds. Maturity
$1,000 in nine years and 51,000 in ten years.

Denomina-

Authority Section 97 of the Municipal Code.

tion $1,000.
Date April 1 1906. Interest semi-annually
Bonds are exempt from taxation.
at the Treasurer's office.
deposit of
Accrued interest to be paid by purchaser.
$500, payable to the Village Treasurer, is required with bids
for each is.sue.
Successful bidder to furnish blank bonds.

A

—

check for 5% of amount bid, drawn on a national or State
bank, payable to the City Treasurer, required. Accrued
interest to be paid by purchaser.
The official notice of this bond offering loill be found among

Rockingham County (P. 0. Wentworth), No. Car. Bonds
The proposition to issue the $300,000 macadam
road bonds mentioned in V. 82, p. 589, was defeated at

the advertisements elsewhere in this Department.

Bonds Authorized.

—

Pen Argyl School District, Northampton County, Pa.
Bond Sale.— On June 4 the $20,000 4% .5-30-year (optional)

coupon school-building Scries "A" bonds described in V. 82,
p. 1285, were awarded to the First National Bank of Pen
Argyl at par.

—

— Pleasure

Driveway and Park District.
6 this district awarded $40,000
20-ycar park-improvement bonds to N. W. Harris & Co. of
Chicago at 101.78. Denomination $1,000. Date July 2
1906.
Interest January and July.
Peoria,

111.

Bond Sale.— On June

Peterborough County

4%

—

(P. O. Peterborough), B. C.
Debenture Offering.
Proposals will be received until June 20
by Ed. M. Elliott, County Clerk, P. O. box 1001, for $30,000
debentures maturing part yearly for twenty j^ears.

—

4%

1 the $10,000 4%
debentures mentioned in V. 82, p. 1228, were
awarded to Wood, Gundy & Co. of Toronto for $9,663 and
accrued interest.
Following arc the bids:

Picton,

Ont.— Debenture Sale.— On June

electric-light

Defeated.

—

May 12.
Rowan Independent School District, Wright County,

an election held on

— This

la.

—

authorized the isDenomisuance of $2,500 registered school-building bonds.
nation $500.
Date about July 1 1906. Interest Jan. 1 and
Maturity $500 yearly on July 1 from 1907 to 1911
July 1.
Bonds are exempt from taxation. The district
inclusive.
has no bonded debt at present. Assessed valuation $200,000.
F. B. Sheldon is Secretary of School Board.

Rush

City,

district recentlj^

Chisago County, Minn.

— Botids

Defeated.

—

A

proposition to issue $12,000 electric-light bonds was defeated on June 12 b}^ a vote of 32 for to 103 against.
Bo7id Sale.
We are
St. Croix Falls, Polk County, Wis.
advised that the $10,000 5% lOJ^-year (average) waterworks bonds voted on April 3 were awarded on May 31 to
U. M. Stoddard & Co. of Minneapolis at 101.85, interest and
Denomination $500. Date June 1 1906.
blank bonds.

—

Interest June

and December.

—

—

—

Louis, Mo. Bonds Voted.
The following bonds, a
description of which was given in V. 82, p. 1003, wei'c voted
St.

on June

12:

—— —
—

—

June

bridge

municipal

Vote 51,984

bonds.

tor

to

6,483

against.

800,000 3!-;% 20-year hospital bonds. Vote 52,637 for to 5.622 against.
20-ycar insane-asylum bonds. Vote 52.390 for to 5.785 against.
1,000.000 3 '6
230 000 3U
20-year fire-department bonds. Vote 51,189 for to 6,895 against.
20-year court, police and health department bonds. Vote
2,000,000 33^
50.068 for to 8,035 against.
1,000,000 3>^% 20-year bridge and viaduct bonds. Vote 49,377 for to 8,764

%
%
%

against.

Highway Boulevard bonds.

31^%

1,500,000
670,000

2()-year King's

3H%
SH %

500,000

15,425 against.
20-vear public-sewer bonds.
20-year public-park bonds.

Vote 42,656

tor to

Vote 50,511 for to 7,572 against.
Vote 48,255 for to 9,956 against.

—

This city, it
Debenture JSale.
is
St. Thomas, Ont.
stated, recently sold an issue of'$44,122 43^% debentures
to Wood, Gundy & Co. of Toronto.
Salem, Mass. Bonds Axdhorized. This city recently au1-8-year (serial) sewer
thorized the issuance of $16,000
1-10-year (serial) street-improvebonds; also $20,000
ment bonds. Denomination $1,000. Date May 1 1906.
Interest May and November at the Merchants' National

—

4%

4%

Bank

Boston.

in

Bond
(P. O. Salt Lake City), Utah.
11 the $350,000 10-20-year (optional) coupon
refunding bonds described in V. 82, p. 1286, were awarded
to E. H. Rollins & Sons of Denver at 102.56 and interest for
Lake County

Salt

Sale— On June

43^s.

—

San Bernardino, Cal. Bond Election Postponed. Owing
to typographical errors in the advertisement, the City Council
postponed the election which was to have been held May 19
to vote on the $38,000 4^/^% 1-40-year (serial) gold coupon

4^%

street-improvement bonds and the $22,000
1-40-year
(serial) gold coupon bridge bonds mentioned in V. 82, p. 1173.
Saranac Lake, N. Y. Bond Sale Postponed. We are informed that the sale of the $18,000 sewer bonds and the
$32,000 water bonds offered on June 8 has been postponed.
See V. 82, p. 1286, for description of bonds.
On May 21 the
Sault Ste. Marie, Mich. Bond Sale.
$40,000 1-4-year (serial) refunding bonds described in V. 82,
p. 1172, were awarded to Lamprecht Bros. & Co. of Cleveland at par for 4i^s.
Proposals will be received
Scranton, Pa.—Bond Offering.
until 11 a. m., July 3, by M. T. Lavelle, City Clerk, for $70,000 coupon sewer bonds. Bids to be based on bonds bear-

—

—

—

4%

3%, 33^% and

ing

NEW

interest

Denomination $1,000.

Anne Arundel County,

the

of Anne Arundel County at
Maryland, until JUNE 26TH. 1906. at
11 o'clock A. M., for the purchase of all or any part of
$250,000 four per cent bonds of Anne Arundel County
payable In 10 series of $25,000 per series, in periods of
5 years for each series, running up to 50 years. Interest

—

payable January and July lat exempt from County,
municipal and school taxes. Bonds to be delivered on
Proposals must be enclosed In a
or before July 10th.
sealed Inner envelope and enclosed in an outer envelope
addressed to "The Board of County Commissioners for
Anne Arundel County, Annapolis. Maryland." A certified check to the order of the County Treasurer of
Aime Arundel County for two per cent of the par value
of the bonds bid for must accompany bids, to be credited
on purchase price if bid Is accepted, to be returned If bid
IB not accepted.
reserves the right to reject any or all bids.
are authorized by Chapter 313 of the Acts
Assembly of Maryland of 1906.

of the General

Population, Census of 1900
Assessed value of property

39,620
$12,345,370

Fund

County

$50,000 00
9.253 89

Net
will

W. W. WEBB,

Clerk.

ERVIN & COMPANY,
BANKERS,
C New York Stock Exchange,
„
."
MemberB^.o.
.
-,
,
-^
( Philadelphia Stock Exchange,
,

,

—

,

BONDS FOR

.

,

IIVTESTMENT.

iS Exchange Place,
New York.

Drexel Building,
Philadelphia.

Albert Kleybolte
409 Walnnt

&

—

—

—

LOANS.

FOR THE LINE OF THE

Sealed proposals will be received at the office of the Board of Trustees of the Cincinnati Southern Railway untl
12o'clocknoonofMOND.'\.Y. the 25th day of June, 1906. for the purchase of 500 coupon bonds, each of the face
value of $1,000, bearing 3H per cent interest. Issued by the Board of Trustees of the Cincinnati Southern Railway.
These bonds are issued in accordance with and under the provisions of an Act of the General Assembly of the
State of Ohio, passed April 23, 1898 (93 O. L., 637), entitled "An Act supplementary to anAct relating to cities
of the first class having a population exceeding one hundred and fifty thousand inhabitants, passed May 4, 1869,"
(66 O. L., 80), and the resolution of the Board of Trustees of the Cincinnati Southern Railway passed the 7th day
o'May, 1906.
The said bonds being one of a series of $500,000 each. Issued, or to be issued, each year, for a period of five
(5) years, under the corporate seal of said city, for money borrowed thereon In the aggregate not to exceed $2,500,000, authorized by the above Act to be borrowed by said Board of Trustees as a fund for terminal facilities and
permanent betterments for the line of railway of the Cincinnati Southern Railway a line of Railway owned by
the said City of Cincinnati and extending from said City to the City of Chattanooga, in the State of Tennessee
and each bond Is equally secured by a pledge of the faith of the said City of Cincinnati and a tax In addition to
all other taxes for municipal purposes which shall be annually levied by the Council or Board of Legislation of said
City on the real and personal property returned on the grand levy sufficient to pay the interest and provide a sinking fund for their final redemption.
The Trustees have heretofore Issued a manuscript bond to the amount of $500,000. of date July 1. 1902, payable
July 1, 1965, and redeemable July 1, 1942, under authority conferred by said Act of April 23, 1898, which bond,
on being offered to the Tnistees of the Sinking Fund of Cincinnati, Ohio, under the laws of said State, was taken
and is now held by said Trustees of the Sinking Fund.
The Trustees have also Issued five hundred (500) bonds in the amount of one thousand (1,000) dollars each,
of date of July 1, 1903, payable July 1, 1965, and redeemable July 1, 1943, under authority conferred by said Act of
April 23. 1898, and which bonds on being advertised for sale, under the statute in such cases made and provided,
•

—

five hundred (500) bonds in the amount of one thousand (1,000) dollars each, of
1, 1904, payable July 1, 1966, and redeemable July 1, 1944, under authority conferred by said Act of
April 23. 1898, and which bonds on being advertised for sale, under the statute in such.cases made and provided,
were sold as an entirety.
The Trustees have also issued five hundred (500) bonds In the amount of one thousand (1,000) dollars each,
of date July 1 1905, payable July 1, 1965 and redeemable July 1, 1945, imder authority conferred by saidAct
of April 23, 1898, and which bonds on being advertised for sale, under the statute In such cases made and provided, were sold as an entirety.
The said bonds are to be issued under date of July 2, 1906, .and are p.ayable on the first day of July, 1965. at
the American Exchange N.atioual Bank In New York City, with Interest thereon at the rate of 3H per cent per
annum, payable semi-annually on the first days of January and July in each year, upon the presentation and sursender as they severally mature, of the Interest coupons attached thereto; p.ayable both as to brincipal and interest
In lawful money of the United States.
Said bonds are redeemable at tne option of the (5ity of Cincinnati on
the first day of July, A. D. 1946, or at any time thereafter, upon payment of the principal and accrued Interest;
all of said bonds are to be signed by the President of the Board of Trustees of the Cincinnati Southern Railway,
and attested by the Auditor of the City of Cincinnati, and registered In his office, and also to be recorded in the
office of the Trustees of the .Sinking Fund of said City.
• A certified check drawn on a national bank for the amount of 2 per cent of the par value of the
bonds bid for.
payable to the order of the Board of Trustees of the Cincinnati Southern Railway, must accompany each bid
This check shall Inure to the benefit of the City upon the failure of the bidder to comply with the provisions ot
his bid or to take the bonds at the amount bid.
No bids for less than par and accrued Interest to the day of delivery of the bonds will be accepted: the bonds
to t)e delivered tt) the buyer at the Third National Bank In the City ot Cincinnati on any business day between the
2nd day of July and 31st d.ay of July, 1906.
Bidders must enclo.se their bids in sealed envelopes and deposit the same with the Secretary of the Board of
Trustees ot the Cincinnati Southern Railway at the office of the Trvistees of the Cincinnati Southern Railway,
Ingalls Building, northea.st corner Fourth and Vine streets, Cincinnati Ohio, on or before the 25th day of June,
1906. at 12 o'clock m.. and such sealed envelopes must have indorsed thereon the nature of the bid and the name
and address of the bidder.
All bids must st.ate the number of bonds bid for.
Rids will be opened on Monday, the 25th day of June, 1906, at 12 m. In the presence of the bidders, at the office
of the Board of Trustees of the Cincinnati Southern Railway.
Bidders mu.st use the printed forms furnished by the Secretary of the Board of Trustees of the Cincinnati Southern Railway as none otliors will be received.
The Board of Trustees of the Cincinnati Southejn Railway reserves the right to reject any or all bids.
By direction of the Board of Trustees of the Cincinnati Southern Railway.
R. SAYLER. Presidcnl.
FERGUSON. Secretary.

date July

•

Co.,

Street,

CINCINNATI,

•

JOHN

STANLEY

O.

Carefully Selected

MUNICIPAL BONDS

HIGH GRADE BONDS
lilsta

upon

Trowbridge & Niver Co.
MUNICIPAL AND PUBLIC SERVICE

request.

BONDS.

And other Hio^h-Crade
Investment

—

—

were sola as an entirety.
The Trustees have al.so issued

$40,746 11

be publicly opened at noon, June 26th, In
the County Commissioners' office, Annapolis.
Full Information given on Inquiry to the undersigned.
By order of the County Commissioners of Anne
Arundel County.

Bids

Denomination $1,000. Interest semi-annual. Certified
checks to be drawn on some bank in Seattle and made payable
to the City Comptroller.
Sea View School District, Mendocino County, Cal.
Bonds Not Sold.— There were no bidders on June 5 for $600
bonds offered on that day.
Shaw, BoUvar County, Miss. Bo}id Sale. On June 5 the
$27,000 5% gold coupon water and light bonds, a description
of which was given in V. 82, p. 1118, were awarded to Sanders, Johnson & Co. of Vicksburg at par.
Bids were also
received from S. A. Kean of Chicago par less 2J^% and
John Nuveen & Co. of Chicago par less $2,400.
Snyder Independent School District, Scurry County, Tex.
—Bonds Registered.— On June 8 $3,000 5% 5-20-year
(optional) school-house bonds dated Ma}^ 1 1906 were registered by the State Comptroller.
South Park, King County, Wash. Bonds Proposed. The
City Council is considering the question of issuing bonds for
a city water supply.
Spencer, Rowan County, No. Car. Price Paid for Bonds.
We are informed that the price paid by the Wachovia
Loan & Trust Co. of Spencer for the $35,000 5% 30-year
street, sewer and school bonds recently awarded to them
(V. 82, p. 1339) was par.
Denomination $1,000. Date
April 2 1906.
Interest April and October.
Sterling, Whiteside County, 111.
Bond Sale. This city
wo are informed, recently awarded $14,500 41^% 11-year

Cincinnati Southern Railway
office of

Annapolis,

Less Sinking

5600,000 coupon electric-light-plant bonds at not exceeding 4,'^% interest. Authority Ordinance No. 13,242 and Ordinance No. 7,708. Bids requested
for 20-year bonds .and for I0-20-y(-ar (optional) bonds.
Securities will be
delivered in blocks of 825,000, complete delivery to be made within twelve
months. Certified check for 85,000 required.
500,000 coupon park bonds at not exceeding 4% interest. Authority Ordinance
No. 13,188. Maturity "not exceeding twenty years from date of issue."
Certified check for S 1 2.000 required

SALE OF MUNICIPAL BONDS

County Commissioners

of

—

NEW

CODPOxN BONDS.

Bonded debt

1399

Bond Offering. Proposals will be reSeattle, Wash.
ceived until 10 a. m. July 7 by H. W. Carroll, City Comptroller, for the following bonds mentioned in V. 82, p. 1003:

Maryland,

Sealed proposals will be received at the

The Board
The bonds

—
—

.

Date June 1 1900. Interest semi-annually at the office of
the City Treasurer.
Maturity $45,000 June 1 1920 and
$25,000 June 1 1925.
Purchaser to pay accrued interest.
Official circular states that there i.s no litigation threatened
or pending affecting this issue.

LOANS.

0S^O,OOO
4«

— ——
—

THE CHRONICLE.

16 1906.]

$3,S00,000:3>^% 20-year

—

—

Securities.

Full deeorlptioDB showing price and Income
on application.

Denlson & Farnsworth,
BOSTON and CLEVELAND.

iBt

CHICAGO,
Nat. Bank Bldg.

BOSTON,
eo State

fttreet

THE CHRONICLE.

1400

(average) street-improveraeut (city's portion) bonds dated
1 1906 to N. W. Harris & Co. of Chicago.

June

Temple School

District,

[Vol. LxxxiL

Interest semi-annually at the office of the City Treasurer.
of the bonds, payable to the city of
Certified check for
Accrued interest to be paid by purchaser,
Troy, is required.

1%

Bell County, Tex. — Bond Sale. —

Union-Endicott High School District No. 1, Broome
On June 8 the $25,000 5% school-building bonds voted on
May 15 (V. 82, p. 1229) were awarded, it is stated, to N. W. County, N. Y. — Bond Offering. — Proposals will be received
until 7:30 p. m., June 18, by D. S. Whittemore, Secretary
Harris & Co. of Chicago at 107.
Board of Education (P. O. Union), for $18,000 and $2,500
Terra Alta, W. Y&.—Bond Sale.— On June 11 the $15,000 registered bonds at not exceeding 6% interest. Denomina-

5%

30-year coupon sewerage and paving bonds described in
V. 82, p. 1286, were awarded to C. H. Coffin of Chicago at
Following are the bids:
100.506.
par
$15,0761 W. J. Haye8j& Sons. Cleveland
C. H. Coffin, Chicago
S. A. Kean. Chicago

$900 and second issue $125. Date July 1
Interest annually on Nov. 1 at the First National
Bank in Lestershire. Maturity $900 of first issue and $125
of second issue yearly on Nov. 1 from 1907 to 1926 inclusive.
Purcha.ser to furnish blank bonds.

tions: first issue

1900.

15,0151

—

—

Thomasville, Ga. Bond Election. An election will be
held July 3 to vote on the question of issuing $30,000 paving
bonds.
Ticonderoga Union Free School District No. 5, Essex
County, N. Y. Bids. Following are the bids received on
June 7 for the $45,000 4% 223^ -year (average) school bonds,
awarded, as stated last week, to John D. Everitt & Co. of
New York City at 100.457 and accrued interest.

—

—

District, Ohio.
Bond Sale. On
$2,500 6% school-building bonds were awarded to
Denomination $200, except
J. C. Sneider, Agent, at 104.
one bond for $300. Bonds mature in 1919.
Urbana, Champaign County, Ohio. Bond Offering. Proposals will be received until 12 m. July 10 by W. E. Berry,
City Auditor, for $10,000 4% 8-year gas-plant-debt-extenDenomination $1,000. Date July 1 1906.
sion bonds.
Co., N.Y.. $45, 205 6518. A. Kean, Chicago..
John D. Everitt
S45,009 00
Accrued interest to be paid by purInterest semi-annual.
N. W. Harris & Co., N. Y
45,018 OOl
Certified check for 1% of the bonds bid for, payable
chaser.
Lincoln County, Wis. No
Tomahawk School District,
the City Treasurer, required.
Action Yet Taken.
We are informed that the matter of to Uxbridge, Mass. Bond Offering. Proposals will be recalling an election to vote on the question of issuing the
ceived until 3 p.m., June 20, by Edward Parker, Town Treas$40,000 school-building bonds, mention of which was made
Denomination $500.
urer, for $15,000 4% water bonds.
in V. 82j p. 828, has now been postponed until October.
Date July 1 1906. Interest semi-annual. Maturity $500
Trenton, N. J. Bonds Authorized. On May 15 the Council yearly from July 1 1907 to July 1 1936 inclusive. Purchaser
passed an ordinance providing for the issuance of $25,000 to pay accrued interest.
4% registered fire bonds. Interest semi-annual. On May
Proposals
Victor, Ontario County, N. Y. Bond Offering.
28 an issue of $13,000 30-year registered repaving bonds was will be received until 6 p. m. to-day (June 16) by T. M.
Interest not exceeding 4%, payable semi- Norton, Village Clerk, for $11,000 water- works bonds at not
authorized.
annually at the office of the City Treasurer.
Denomination $1,100. Interest
exceeding 5% interest.
Troy, N. Y. Bond Offering. Proposals will be received annually on July 1. Maturity $1,100 yearly on July 1 from
No debt at present. Assessed valu1907 to 1916 inclu.sive.
until 11a. m., June 25, by H. W. Gordinier, City Comptroller,
These are the same bonds
for the following bonds:
ation for 1905, $502,868.
awarded on May 1 to W. J. Hayes & Sons of Cleveland,
$200,000 4% 1-20-year (serial) deficiency water-works bonds dated June 15 1906.
Authority Chapter 197, Laws ol 1906.
but that sale was not consummated, as it was claimed that
76,000 4% 1-20-year (serial) public-improvement bonds dated July 1 1906.
Chapter 685, Lawsol 1892.
A new election was
the bonds were not legally voted.
125,000 4% 1-20-year (serial) municipal-loan bonds dated June 15 1906. Autherefore held and the bonds again authorized.
thority Chapter 196, Laws of 1906

—

Union Township School

June

—

—

—

<fe

—

—

—

—

—

—

—

—

—

NEW

NEW

LOANS.

NEW

LOANS.

PAVING BONDS

City

AND

SOS,000
SCHOOL HOUSE BONDS
OF THE

City of Atlantic City, N.
Bids received until 12

J.

O'CLOCK M. SATURD.\Y

1906.

23,

The City

of Atlantic City will receive sealed proposals
tor S35,000 Gold Coupon Paving Bonds in denominations o£ SI, 000 each, dated April 1, 1906, maturing
April 1, 1926, without option, with interest at 4 per cent

payable semi-annually at the Hanover
Also 565,000 Gold
ational Bank New York City.
Coupon School Bonds in denominations of £1,000 each
dated July 1, 1906, payable $5,000 on July 1, 1931, and
815,000 on July 1, 1932: S15,000 on July 1, 1933;
Ser annum,

$15,000 on July 1, 1934, and Si5,000 on July 1 1935.
Said bonds are without option, with interest at 4 per
cent per annum, payable semi-annually, at the Hanover
National Bank, New York City.
The legality of these bonds has been approved by
Dillon & Hubbard of New York, whose certificate as to
legality will accompany the bonds when delivered.
The bonds will be engraved under the supervision of and
certified to as to their genuineness by the Columbia
Trust Co. of New York.
Circular letter, giving full particulars, sent on application to

A. M.

HESTON.

of Paterson, N.
SCHOOL BONDS.

J:,

Sealed proposals will be received by the Board of
Finance of the City of Paterson up to 3:30 o'clock p. m.
on Wednesday, June 20th, 1906, for all or any part of
$36,000 worth of 4 per cent School Bonds of the City of
Paterson, N.J. Said bonds to be of the denomination
of SI, 000 each, dated June l.st. 1906. and to mature June
1st, 1931, with coupons payable each December and
June until the princiiial shall be due.
Said bonds are to be paid at maturity out of the Sinking Fund of said city, as provided by law.
All proposals to be accompanied by a check, payable
to the order of the City Treasurer of the City of Paterson,
N.J. for 5 per cent of the amount bid. duly certified by
a National or duly incorporated State Bank. Accrued
interest on the bonds to be paid by the purchaser.
No proposals shall be withdrawn after the same shall
have been accepted by said Board of Finance, unless
the bond issue or any of the proceedings connected
therewith shall be shown to be illegal. In the event of
failure of the successful bidder to accept said bond
issue for any reason other than illegality as above, the
check accompanying said proposal shall become forfeited and the money represented thereby shall become
the absolute property of the said City of Paterson as

County of Putnam, N. Y.,
BUILDING BONDS.
Sealed bids will be received by the undersigned up to
12 o'clock noon, Junei25, 1906, for the purchase of
$20,000 County Building Bonds to be issued by the

County of Putnam, New York,
Bonds will be payable S2,000 on the first day ot
August in each year from 1907 to 1916, both inclusive,
and will bear interest at 4 per cent, payable semiannually on the first days of February and August
Principal and interest payable at the Office of the
County Treasurer or at the Farmer's Loan & Trust
Company, New York.
All bids must be accompanied by a certified check for
2 per cent of the total amount of the issue.
The right is reserved to reject any and all bids.
Bonds will be delivered on August 1 1906.
Brewster, N. Y., June 14, 1906.
EDWARD D. ST.A.NXARD,
County Treasurer of Putnam County, N. Y

Bonds
Alabama State Bonds

JVIobJle City

liquidated damages.

These bonds
be delivered at the office of the City
Treasurer, Paterson, N.J.
The Board of Finance reserves the right to reject
any or all bids.
will

CHARLES
BROPHY, Clerk.

N.

J.

Dealt in by us.

STERRETT,

Wire ua your

Chairman.

Address Proposals to

JOHN

City Treasurer's Office, Paterson,

LOANS.

#30,000

030,000

UNE

—

N.J.

Comptroller

OflferlnB.

MACARTNEY & SCHLEY
BANKERS & BROKERS

R.

L.

DAY &

CO.,

BOSTON.

3 Nassau Street,

NEW

60 State

YORK.

STOCK EXCHANGES.
STATE, MUNICIPAL, AND HIGHOKABE F.
RAILROAD SecURITIES.

KUHICIPAL AMD

<fe

R.

AND

Municipal Bonds.
181 LA SALLE STREET.

CORPORATION BONDS stS^K CERTIFICATES

Salle Street, Chicago.

Public

ateel or UthoKrapbed, or
and partly lithographed,
look of 100 certlflcates, steel-plate
border, and aeal press, $16; cheaper
Btylei as low as <2 60 for a book ot 60.

gftrtlr printed

ALBEBT

B.

KINQ &

CO.,

806 Broadway, N.T,

Service

Corporation

BONDS.
E. H.

ROLLINS & SONS,
BOSTON.

Denrer.

CHICAGO.
Engraved on

La

MUNICIPAL

Street,

FULTON & CO.,

Co.,

BONDS.
i8i

MOBILE, ALA.

Burr,

BOSTON.

MKMBEBS
NEW YOKK AND BOSTON

MacDonald, McCoy

&

INVESTMENT BONDS.

BANKERS,
85 Congress Street,

Perry, Coffin

Chicago.

San Francisco.

£»tablUta«d 18»5.

H. C. Speer
First

CITY

Nat Bank

& Sons

Co.

Bailding, CUeafO.

COUNTY

AND TOWNSHIP

BONDS.

June

THE CHRONICLE

16 1906.]

—

—

Vienna, Ga. Bonds Not Sold. No sale was made on
June 11 of the $20,000 5% water-works-improvement bonds
described in V. 82, p. 1340.
We are informed that the matter has now been postponed to Dec. 1.
Waltham, Mass. Temporary Loan. A loan of $45,000

—

$12,000
15,000

—

4% coupon sewer bonds. Denomination $1,000. Date
July 1 1906. Interest semi-annually at the Boston Safe
Deposit & Trust Co. in Boston. Maturity $3,000 July 1
1907 and $2,000 yearly from July 1 1908 to July 1 1919 inclusive.

water-works bonds dated July 2 1906. Maturity $2 000 yearly on
v ^
j *
jJuly 2 from 1917 to 1922 inclusive.
bonds dated June 30 1906. Maturity on June 30 as fol
IT^aI}'°?S^;? 1^2^' ^3.000 in 1923. $3,000 in 1924, $4,000 In 1925 and
#4,000 in 19J6.
.

electric-light

Denomination $1,000. Interest semi-annual. Certified
check on a national bank for $500, payable to the City Treasurer, is required with bids for each issue.
Purchaser to furnish blank bonds.
Bidders must satisfy themselves as to

—

in anticipation of the collection of taxes was recently negotiated with Loring, Tolman & Tupper of Boston at 4.55%
Loan matures Nov. 6.
discount and a premium of 25 cents.
Bond Offering. Proposals will be received until 10 a. m.
June 19 by Alfred W. Tarbell, City Treasurer, for $27,000

6%
6%

1401

the legality of the bonds before bidding.
Winnipeg, TX.2in.— Debenture Sale.—Oi the $1,654,440 15
4% debentures offered but not sold on April 27 (V. 82, p.
1066), $60,000 of the 4% 30-year hospital debentures have
been awarded to the Great West Life Assurance Co. of Winnipeg at par and accrued interest. For description of these
debentures see V. 82, p. 654.

Woonsocket, R. I.—Bond Sale.— On. June 11 the $50,000
O. Vicksburg), Miss. Bids. Fol4% gold coupon water-works-improvement bonds maturing
lowing are the bids received on June 6 for the $50,000 5% Nov. 1 1935 and described in V.
82, p. 1340, were awarded
5-20-year » (optional) coupon jail-building bonds awarded, to Estabrook & Co. of Boston at 101.58
and accrued interest.
as stated last week, to S. Israel of New Orleans:
The following bids were received:
$51. ?5] OOlBrunini & Hirsch
S. Israel, New Orleans
-$51,005 25
Estabrook & Co., Boston
alOl.58
IK. S. Stanwood & Co.. Boston ..olOO 47
Other bids were received, but we are informed they did Blodget Merritt& Co., Boston al01.54S S. A. Kean, Chicago.....
. -i^iw-w
olOO 60
~
N.W.Harris & Co., Boston.. .alOl.0763
not comply with the terms of the advertisement.
o And interest.
Wauseon, Ohio. Bond Sale. On June 11 the four issues
Worcester, M&ss.— Temporary Loan.— A loan of $100,000
of 4% and 43^% sewer construction bonds aggregating
$4,544 72 and described in V. 82, p. 1287, were awarded to was recently negotiated with Blake Bros. & Co. of Boston
Loan matures Oct.
the First National Bank of Wauseon at par. There were at 4.49% discount and $1 premium.
12 1906.
no other bidders.
Worcester County, Md.—Bonds Authorized.— It is stated
Wichita School District, Sedgwick Coimty, Kan. Bond
Proposals will be received until 4 p. m., June 30, in local papers that the County Commissioners have decided
Offering.
by C. S. Caldwell, Secretary Board of Education, for $40,000 to issue $15,000 road bonds.
school-building bonds at not exceeding 43^% interest.
York School District, York County, Pa,.—Bonds Not Sold.
Authority, Chapter 227, Session Laws of 1889; also election
No bids were received on June 14 for the $75,000 3.65%
Denomination $500. Date Aug. 1 1906. (coupon or registered) bonds described in V. 82, p. 1288.
held April 3 1906.
Interest semi-annually at the State fiscal agency in New
Yuma County (P. O. Yuma), Ariz.-Bond Offering.—
York City. Maturity twenty years, subject to call after Proposals will be received until 11 a. m., to-day (June 16)
ten years. Bids are requested for bonds bearing 4%, 4i^% by J. M. Polhamus, Clerk Board of Supervisors, for $35,000
and i]/2% interest. Certified check for $500, payable to 6% 10-20-year (optional) coupon bonds.
Denomination
the Board of Education, is required.
Date June 16 1906. Interest payable in Yuma.
$500.
Bond Offering.
Williston, Williams County, No. Dak.
Certified check for 10%, payable to P. B. Hodges, County
Proposals will be received until 8 p. m. June 28 by D. C. Treasurer, is required. Assessed valuation for 1905,
Page, City Auditor, for the following bonds:
$1,125,507 81.

Warren County

—

(P.

—

—

—

—

—

—

—

—

INVESTMENTS.
W. NOBLE &

H.

MISCELLANEOUS.
OFFICE OF THE

COMPANY.

ATLANTIC MUTUAL INSURANCE COMPANY,

Detroit.
Philadelphia.

New York.

New York, January

MUNICIPAL

PUBLIC SERVICE CORPORATION

Premiums on Marine Risks from 1st January, 1905, to 31st December, 1905
Prenuunas on Policir-s not marked off 1st January, 1906

BONDS.

S2,977,S54 37
610,551 57

Total Marine Premiums

& Co

Premiums marked
,

BANKERS,
Boston.
NASSAU STU.££T, NEW YORK.

off

$3,694,405 94

from

1st

January, 1905, to 31st December, 1905

Interest received during the j-ear

Kent,

16 Conorress Street,
3«

190G.

the Charter of the Company, submit the following statement of its
affairs on the Zlst of December 1905.

AND

Blodget, Merritt

2.':rd,

The Trustees, in conformity with

less

S3,012,213~96

$295,738 G5
99,338 33

Taxes and Expenses

8395,070 98

_

Losses paid during the year wliich were estimated in 1904
and previous years
$271,100 60
Losses occurred, estimated and paid in 1905
827,295 95 $1,098,396 55

Less Salvages
Ke-insurances

STATE, CITf A RAILROAD BONDS.

$130,068 69
35,947 85

166,016 44

$932,380 11

Specialists in

New

Jersey Securities.

EISELE & KING,
New York and Philadelphia
Stock Exchanges.

of

Private Wires to
N. Y. & Philadelphia.

757-75» Kroad

NEWARK.

St.,

BONDS.
SEASONGOOD & MAYER
nercantlJe Library Bnlldlnc,

CINCINNATI.

Premium notes and
Cash

Bills

Co.,

&,

Cash in Bank

_.

_

i

I'^^es

under

policies

_.

_

Aggregating

1,127,674 83

payable in
175,632 33
257,865 62

$12,716,427 62

ilividend of Six per n-nt interest on tlie outstanding certificates of profits will ho iiaid to the
holders thereof, or llieir liv,'al representatives, on and after Tuesday tlie Sixth of February next.
The outstanding certificates of the issue of 1900 will be redeemed and paid to the holders
tliereof, or their legal representatives, on and after Tuesday tfie Sixth of February next, from which
dal(> all interest thereon will cease.
The certificates to be produced at tlie time of payment and
canceled.
A dividend of Forty per cent is declared on the net earned premiums of the Company for the
year ending 31st December, 1905, for which, upon apphcation, certificates will be issued on and
after Tuesday the First of May next.
Bv order of the Board,
G. STANTON FLOVD-JONES, Secretary.

TRUSTEES.

MUXICIPAL BOXDS.

GUSTAV AMSINCK,
FRANCIS M. BACO.V,
Garfield Buildinor,
CLEVELAND. JOHN N. BEACH.
WILLLVM B. BOULTON.
VEKNON H. BROWN.
WALDKON P. BROWN,
Atlantic l>Iotanl''In8arancn Company Serip JOSEPH H. CHAPMAN.
at All Years Uouarht and Sold,
OEOHdIO C. CLARK,
CLEVELAND H. DODGE,
('ORMOLIUS ELDKHT,
KICHAKI) H. EWABT,

JOHN M.GILLESPIE,
No. 518 Atlantic Baildin^,

NEW

compensation, sta-

Receivable

hands of European Bankers to niv
foreign countries..

in the

Specialists In

4»-51 Wall Street,

clerks'

A

LIST ON APPLICATION.

;Room

and

1

MUNICIPAL AND RAILROAD

Emery, Anderson

$80,615 47
salaries

tionery, nevvspaiiers, ariveniseinents, ic
$374,746 88
The Company has tlie following Assets, viz.:
United States and Slate of New York Stock, City, Bank a.id other Securities
$5,198,042 00
Special deposits in Hanks and Trust Companies...
.
.
1,583,212 84
I{eal Estate corner Wall atitl William Sts. an
Exchange Place
$4,299,000 00
Other Real Estate and claims due the Company
75,000 00 4,374,000 00

BANKERS,
Members

Returns of Premiums
Expenses, inchiding officers'

YORK.

EWALD

ELEI IMANN,

HERBERT L. GRIOOS,
CLEMENT A. GRISCOM,
ANSON W. HARD,
MO UK IS K. JESUP,
THKODOUE P. JOHNSON,
LEWIS CASS LEDYARD,

FltANCIS H. LIOGGE'I'T,

CHARLES 1). Li:Vi:i{ICH,
LEANDEK N. l,OVELL,
GEORGE H. MACY,
CHARLES H. MARSHALL,

W. H. H. MOORE.

NICHOLAS E. PALMER,
HENRY PARISH,
DALLAS B. PRATT,
GEORGE W.QUINTARD,
A. A. RAVEN,
JOHN L. RIKER,
DOUc;LAS ROBINSON.
GUSTAV H. SCHWAB.
WILLIAM A. STREET,
WILLIAM C. STURGES.

A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
THEO. P. JOHNSON, 2rf V ire-President.
JAMES L. LIVINGSTON, 3d Vice-PrcsidenL

THE CHRONICLE.

1402

[Vol. lxxxii.

^Itxaucial

Ilftiiattcial,

WHAT'S WRONG
with that
Why

TELEPHONE INVESTMENT

of yours?

pay you as well as the best of your investments?
management or bad equipment? More likely the latter^
Probably the company is trying to do a Twentieth Century business with Nineteenth Century
doesn't

it

Is the reason

bail

^^^s'JrVu^

apparatus.
the case,

if that's

it is

spending more and earning

less

than

it

might

if it

$11,000,000

had our Automatic

Telephone equipment.
This is the only really modern telephone system. It produces the idea l telephone service
quick, sure, a nd secret—-at half the[operating expense of a manual equipment, and this service
better rates.
It costs a fixed price per hundred line s to enlarge the automatic exchange, instead of an
increased price per each hundred Unes, as in the manual equipment.
The automatic exchange is never outgrown it never has to be "scrapped" and replaced by a
complete new one, as with the manual. You just add to it as you do to a sectional book-case.
All these points bear upon the stabilit.v and value of your telephone securities.
They mean

commands

Title guarantee
andTRUST company

;

divi^nds to you
Over ninety per cent

announces

removal

its

from

.

of all the large orders placed during the past few years, either for new
Installations or replacements, have been for our automatic system, and all the companies adopting
It have, from the Increased earnings, been able to pay the interest on their bonds and a good
dividend on their stock.

Our Automatic system has been adopted
Aberdeen

S.

D.

El Paso. Texas.
Fall River, Mass.
Ferguson, Mo.

SanDtego,

Hastings, Neb.

Ocean Park

Hazleton, Pa.
Hopkinsville, Ky.
Jonesboro, Ark.
Lake Benton, Minn.

Buxton, Iowa.
Cadillac, Mich

Tacoma, wash.

Cal.

Watch

Hill, R. I.
Wausau, Wis.
Westerly. R. I.
Wilmington, Del.

Portland. Ore.
Princeton, N. J.
Riverside, Cal.

Lewiston Me.

Yuma, Arizona.

AUTOMATIC ELECTRIC
Van Buren and Morgan

CO.,

CHICAGO,

Streets.

The United

U. S. A.

IN

JAMES

the only system at the service of banks
absolutely Free of Charge. Orders can be
issued payable at any point in the United
States, Canada, Mexico, Cuba, Europe, Asia,
North Africa and Australia. The most
flexible mediimi of exchange in use.
AU
charges you make to thb public are your
is

Wniiam

R.

Leathsr

Home

York aty.

&

PHELPS.

29 Wall St., New York.
Delaware & Hudson cony. 4s.

N Y.N.H.&Hartf'dRR.conv. 8H».
BOCQHT AND BOLD

Ne^ York

Street,

M. D., President.

R. PLtJM

VICKERS

313-313 West 39th

Compton

MUNN,

Qood men, wbetber experienced In Ule Inauranee or
not, may make direct contracts with this compaoy
for a limited territory If desired, and secure for themselves In addition to first year's commission, a renewal
Address Ui«
Interest insiorlng an Income for the future.
Office. No. 277 Broadway. Ntw
Company at Its

BANKERS' MONEY ORDER ASSOCIATION,
Dtaoennt Bntldlns.

P.

CLARENCE H. KELSEY, Pres. Title Guar. 4 Tr. Oo.
WM. H.PORTER.. Pres. Chemical National Bank..

own profit.

•}

Life

Finance Committee

WRITE ton PAKTIC0L.AB8 TO THE
Bank

States

Insurance Co.
THE CITT OF NEW YORK.

JOHN

The standard, unlfonn Money Order of the
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1906

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York, June Uth, 1906.

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(Established in 1889.)

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