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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. — Terms ol Subscription Payable in For One iear For Six Months Bnropean subscription (Including postage) European Subscription Six Months (including postage) Adrauce $10 00 6 00 13 00 7 50 Annoal Subscription in London ^including postage) Six Months Subscription in London (including postage) £2 £1 148. lis. — Subscription includes following Sections State and City (semi-annually) Bank and Qootation (monthly) Railway and Industrial (quarterly) street Railway (3 times yearly) I 1 Terms Advertising— Per Inch Space ot Transient matter per inch space (14 agate lines) Two Months ( ai,~„/i4«~ Business Cards „~ H„ Standing D <-. 1 Months Twelve Months j g^^ ( $4 22 29 60 87 (8 times) Three Months I (13 times) (26 times) (52 times) 20 00 00 00 00 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 "-J "-J "12 "i! i) .. . 1 1^4 " 1 . l-J •• .; '-2 ( / '•i m\ I "^4 S ij, ^ 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 96'4May'0e M-S 100 J-D 97I2 Unilied gold 43 96 M-S Debenture gold 5s J-D 100 ret gold 4s Guar M-S Bklyn A Mont 1st g 6s. .1911 M-S 1051a Gold Pat 8614 "2 11934 Mar'04 86 14. 9934 101 !< "2 92 Dec '05 lOl'sOct '9'J 100 Xov'OO 122 90 123 . loo 100 70 106 102 105 100 IO6I2. lar'03 92 14 Apr '00 123 May'9' 10734 99 W Iowa Central 101 Dec '05 78i2Apr'06 82 ^ May'06 J-J J-J J-D J-D J-D J-D Mempli Div 1st g 4s. ..1951 J-D St Li Sou 1st gu g 48 1931 M-S Ind Bl A West See COCA St L Ind Dec A 1st g 53 1935 J-J Istguargold 53 1935 J-J Ind 111 A la 1st g 48 1950 J-J Int A Great NorlstgOs.. 1919 M-N 2d gold OS 1909 M-S NYA 112 90 lOii 1953 .M-N Q-F A-O M-» J-D F-A M-S 105 I 106 87 = 101 1937 108 1.> 10812 Con G Coot Ch lstgug5s.'36 98 98 Mu Fuel Gas Ist gu g 58. 1947 Syracuse Lighting 1st g 53.'51 121 122 Trenton G A El 1st g 5s.. 1949 9312 93»2 Westchester Light's g 5s.l950 J-J 1 1IO51.2 1051... .... II031-., May'OO 94 12: 9314 106\,106 S778 .117 106 877, 102 "2 Apr'Ot 118 Apr '06 101 . 122 106 J-D U J'ne'06 104 lOSVj 103 12 10:; "-i 93 U412 106 10934 86 92 1017el04i2 II512II8 100% 104 Iq Nov'05 104=4 Nov'OS 120 J'ne'06 106 J'ue'06 107 J'ne'06 105 J'ue'06 103 .M-N J-D B734 15, 931. 103 iui" f>s.l921 M-N 5s. 1949 M- S 6s. 1943 A-O 1947 .M-S ChG-LACkelstgng5s 106 , J-J NY'AQKlLAPlstcoug5»1930 P-A Nov'03 61i2 0ct '01 9i» 90 10734 Dec '00 IO8I2 Apr'UO 98 Feb'06 '^'li'y^siooi-^ soM 4s 1950 J-D LomsvDiv&Term g3 "23.1953 J-J Middle Divreg5s 1921 Omaha Div 1st g 33 1951 St Louis DivAterm g 3s. 1951 Registered 1951 Gold3i28 1951 Registered 1951 Spring Div 1st g 3128... 1951 Western Lines 1st g 4s.. 1951 BeUev A Car let 6s 1923 Carb A Sha.-w 1st g 48. ..1932 Chic St L A N O g 58. ..1951 Registered 1951 Gold3i23 1951 Registered 1951 110 13 "2 100 94 1 9973... Leh 12858 13412 Leh J'n'206 7012 I48I4 Sep Ill's. J-J J-J J-J J-J A-0 M-S A-O A-O Tex gold 4s ...1953 M-N NY Doc '05 21 ig Oct '05 17i2Miiy'0b 103 ieb'06 107i2Ai>r'06 "18 May'Otf IOS34 110 F A A-O A-O A-O io!<'./|:(;ii'.^ 'fray's Gas and J-D MN /ntiiirirti 1 Grand lUISCKM^VNEOUS BONUS—CoutiiuieU on Next ConsolGas conv deb 6s 1909 J.J Consuiu Gas See P G A C Co Oct 122 'alllarASA .VeeSoPacCo 'alH A H of 1882 Ist 58.1913 A-0 9334 131 131 133 Feb '06 33 133 101 Ha 101=8 9914 102. 100 14 Apr '06 IOOI4IOOI4 92^1 93 92 Hj 93 90 93 lo 88 Nov'04 94 Sale 94 9434 91 98 106 10634 106 12 106'j 10034 109 ^e I2OI4 27 Nov'O:. 101 104 "e Feb '06 104=8 104»H 120^8 2018 120-'i, 35 118 12234 1013^ 10234 Dec 05 132 >2 IBS'-,, .35 12 Feb '06 i35i^ 1351-1 Ill's 118 J'ly'04 M-N 117 M-N I09I4 Jau'06 A-0 lOS'e WilkA Ealstgug5s.l942 J-D 113 113 May'06 Ev A Ind Istcon gug68..192« J-J 116 II914 116 Apr '06 Detroit City 'ale pill- M-ii Si-i- Knoxville A Ohio See So Ry Lake Erie A Wist g 5s.. 1937 112 114 2d gold 5s 1941 112l2ll2'42 North Ohio Ist gug 5s.. 1945 LShoAilichS See Cent Leh Val N Y 1st gug4i2S. 1940 113 11312 Registered 1940 Leh.igh Val (Pa) cons g 4s. 2003 Leh VTer Ry Ist gu g 5s. 1941 1163811938 Regl.stered 1941 Leh V Coal Co 1st gu g 5s. 1933 IO7I2IO7I2 Leh A N Y 1st guar g4s..l945 114 1141.2 Registered 194 IOVI4 108 14 El C A N 1st pf 6s ,....1914 1151411514 Gold guar 5s 1914 88 i'oisgi'iu'e M-K (jns ontl KIpctric ].is;lit Atlanta G L Co Istg os...l94 J-D Bklyn U Gas 1st con g 58.1945 M-N BuHaio Gas Istg 58 1947 A-O icoi-j Kan '04 IO3I2 1947 M-N 1919 M-S 192:; Sep May'06 112iaFeU'06 , 32 126'4 Jan '02 99 14 Feb '06 9634 Mar'06 93 116 YA JS' £)7 M-K 4th ext golQ 5s 192U 6th est gold 4s 192S Istconsol gold 7s 1920 Ist consul g ttuid7s 1920 Erie Isl con g 48 prior.. 1990 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« Chic A Erie 1st sold 03. .1982 Jett RR 1st gu g 5s al909 Long Dock consol g 0s..l935 CoalARR Istciirgu 68.1922 Dock A Imp Ist cur Os.. 1913 N Y & Green L gu g 58.1946 /,o>' 1:9 A-O A-O A-O JD LN OA 10478 10' 123Hi 12618 12638 127 123'2Apr'06 127 Jan '06 127 J'ne'05 . J-J Rv A East 1st g 5s. 1941 Elm Cort A No See Leh A JM Y ]Elgin Jol Kne latest gold 48 il-S M PiMH KlW J- lie^aJan'O; A-O J-J A J-J l^'laCA I'enin .secSeaAir LimFort St U D C;o 1st if 4 '2S.19.*! J.J A Den C 1st g 6a.. -.1921 RioGr Ist g 48... 1928 J-J S 104'^Nov'Ol Ist g 5s. .1917 .U-N Det M A Tol See L, S A JI So Det A Mack 1st lieu g 4s. 1995 J-D Jtaif.e Stiirf kamie or It Hou.'st Utah Cent 1st Kus 4s rti917 A-O Rio Gr So sru See Bio Ur So Des Moi A bX D See :M A St L Des A Minn See Cli A >! W X>esJiioi rfa" Kv VGA Nor .See So I'.ac Co Gouv A Oawegat See N Y <;eut W Western hn: I j Col A Tol See Hock Val Col Conn A Term See N A Conn A Pas Bive 1st g 48.1943 A-0 A Gt So Se« C A St P Dak A Waco alias 1' Isip'Mieril rold 5s 1942 -Mt VeriK.M lat coin 6'»..1923 Null \:o I'.i'.iucli iKt 1: 5s. 1930 (/argo A >•'> See (Jh .M A St 1' '0(1 Hock Val See V.Til h June ?a. iHla A-0 Q-J Oct. 91 M-N •-' ."> blWA Ist fm R 5s...l'.tll Jl.K 1st jrii 4^ tr.'v;^ M-N C i'lnil it Ft Clnl& iKl ini s Is.l '.»:>;> J.J C I St L C nee C C C <fc St 1 Cln S & U See C C C .St b I) 132 lOlS/ilny'd 10) 100 11341 113H, , IT ice K.\''MA.VGK Wkkk Kmiivi; Ju K'le A I'lllM ser penn .n EvaUMA H iHt COMi 68.1921 ( May'Oi 93 lli-c'il3 \:M\ Muy'OO . 113 Y. ST(.)(.K .\. i: 1 Hiilh 132=^133 la 12K 129>, Mar "4 120 Kj 120»j J'ne'OO itli»a ("i'-ii Since 135 8H3, -J Chic* W Micli Sfc Pert- Mnrci Clioc O * CJuir See <; K t & P Cln H <& D '2(1 troUl 4>-2S... 1!):<7 j-j Cin i;'.)M)> W'eK'n t-rtee J'Yiitav 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 loeio Apr '06 106 108»4 week, o Due Jau 6DueFeb (iDueApr eUueMay /(.DueJ'ly fcDueAug oDueOct gDueDec jOptionSato 121 F(!b'06 . 4 June — A A 1 N. T. STOCK EXCH ANGK VvKWK K^•l)I^•l JCNK 15 I •i.lgolil 3s KDOX Atl Nov <fe Henrter Bilge 1st IJ^i IVI-S M-S .ID I5 68 1931 M-S --•}r'.*? lstK;.sli^4l' 3 ioT M & M 1 St g 4 1940 M-S L<fc N !,& N-South M H)int4s.l9o^ J.J N Fla& S Ist!nig5s---l9p' F-A in Pens & Atl 1st gu g bs.. 19^.1 FA 112 F-A S & N Ala con gu g 53--l^^\^ A-0 104 19i<t '•2.S ife Binktuud gold bs 'Y,,?,,, Hc!ristere<t l-J-'J^ limiip & iJi.i coll gold 5a Coll tri: 4i.2s 1st 108 4110 9514 97 U4 117 12 May'06 104 Apr'05 10538 J'ne'06 204 May'06 Ex Istg & M&A U M AM & Mo K <fe Ji. 118 11 3 M '•4 Mar 93 4 934 934 Apr'Ob J-J 36 97 J-J J-J 101 1024 100 89 Ist gii g 5s.. .1942 99»4 8834 Sale Sale 105 106 88 88 100 89 J'neOl 1 06 1194 Mar'05 112 114 Jan *02 11334 101 10439 Sale 1134118 114 114 Sale 107 4 Feb '05 10334 106 104\ 10438 '05 103 Oct 124 Feb 'Ob 125 124 IOOI4 1'>1'^4 101 May'Ov 100410434 May' 01 10734 111 132 41323, 101 101 --^ 10534 Apr'OO 101^4 J'ue'Oi 1204 96 103 , 1174120 106 9234 Mar'05 Apr'Ob 11634 J'ne'Ob 934 Oct '05 Apr'Ob May'Ob 00 96 944. . 126 122 . Q-J 114 '984 1084 944 99 Dec 'Of. 99 9834 Ore RB & Nav See Ore Short Line See 113 1211434 98 95 Nov'04 101 Morris* Essex 5eeDelLdi NV Nash Chat & St List <s.l913 19io 1st consol gold 58 Jasper Branch 1st gOs.. 1923 J-J J-J J-J Nash J-J Nat ot Mex prior lien 4»28. 1920 A-O IJul ist consol 4s II8I4 11238 113 117 113 113 113 1154119=8 119 May'06 113 113 119i4Feb'06 <fc 844 85 1154 11941194 112 1174Mar'06 J'ly'04 105 Apr'06 85 8434 1024105 13 874 83 NewH&D ieeNYNH&il ieeNYCent NJJuncKK Penu Co New & Cin Bdge See. 6s pl91u A-0 prior lien g N O N E& Man Bch See L. I N Y Bkln H Kivg a'28.199r J-J Centdi N YRegistered 1997 J-J 1034 M-N 90 l^ake Shore coUg 3>2S...199b F-A 88 1908 F-A Registered 1998 FA Mich Cent coll g 3 Sjs 1998 F-A Registered Beech Creek Istgug 4s. 1930 J-J 104 1^"^*^ J-J Registered 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*8 903, 883, OOV 894 8834 804 89 May'Ob 88 8(1 .... 104 102 '4 9934 88 100 93 87 4 88^8 914 92 4 ^64 .\pr'Ob J'ne'Ob 90 4 105 4 104 103 «8 95 Series B Series C Series D Series E Series F bA Nov'05 Oct '02 •*85 100 107 4 Oct '04 102 K- DA F-A list g 5s. 192b J-D 1926 J-D H0<SiCl8t8tg5s,1951 J-J Kan<fc Pleas Val Coal Ist g a f 58. 1928 J-J 1951 J-J Tenn Coal gen oa al917 A-O Tenn Dlv Ist g 6s Sale 7734 Sale 79 12 100 4 954 99=6 103 Pitts Ft W& 2d78 3d 7s Penn 75 98 J ue'Ob 98 101 12434 May'Ob 124 125 132 J'ly '99 113 12434 ... 113 Mar'OH . 1054 98 4. Q.M 91 . 109 7434 113" iVs* 1094110 MarOb 100 4Nov'0, 93 May'Ot 116 May'Ob 1164. J-D A-0 54 10934 . J-J a 9-i 115 11634 116 May'O Jan '01 116 11434 100 112 .Mar'Ol- 100 100=8 May' 01 111 114 116 1114 1104 1143^ Un Pao Un Pao NYC W 1942 1942 194o 1949 195o C lat 7s... 1912 110 106 '4 Jan '06 102 Apr'O-. 1033 A-0 10734 10S34 10734 . '89 4; .M-N 191'2 914Mar'0( 964 964 1064107 10634 1083* 904 90 4 914 9234 118 114 96 9« 118 96-'t 118 1174... 12'2 ib84 Aug'b;-, 96 , 109=8 110 99 984 Dec '0 9b JanOi 964 Jan '01 Sale J-D ib9 4"io'9 4 109=8 110 1124J'ne'05 99 99 92 4Mar'06 127 =8 Oct J-J J-J 1044. 964 964 Apr '04 9834 'v'O 1024 F-A A-0 eat g 4s. 1923 M-N 1083, Dec '0;. 90 4 J'ne'Ob M-N /1I912 RB Ist real 784 754 76 May'Ob 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 "V Iron Coalifc Co Ist K 58.1949 M-b "'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 ".!!'!' ibo" 109 J'ne'Ob 107 4109 1104 May'Ot 1104 102 Dec '03 ibi" '.'.'.'.'.. 103 4 Feb'Ob 95'.. 95 4 95 4 Sale 105 100 87 100 87 100 87 100 100 10941124 99 99 92 4 944 '0'.: Apr '01 118 119 107 109 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 M-S •1044 110 Jan '05 C1& Mar lat gug448..193u M-N 1st gu 48g.'3b F-A D R R R & Bge .| 107 4 1083b 107 4 May'Ob GrR<fc I ex lat gu g 44s 1941 J-J 108 Mar'04 '.'.'.'. AO . " 62 93=8 92^8 U)94Feb'Oo Sale 7534 Oswego & Rome See O O if <& St P 6ee C & Ng.l913 A-O Oz'rk& Cher C lat gu 5a Pac Coast Co Ist g 58 Mo 1946 J-D Pac ac ol Missouri See Panama 1st s lund g44s..l917 A-O Sink land subsidy g 68. .1910 M-N Penn Co— Guar 1st g 44s. 1921 J-J 1921 J-J Registered Guar 348 coll trust reg.1937 M-S Guar3 4scoUtrserB...1941 FA Tr Co certit's gu g 34s.l9ib M-N C St L<fe P 1st con g 68.1932 A-O A-O Begiistered ^^^'i J-J C1& Pgengug448serA.'42 A-O 1942 B Series 194« .\1-N Series C 348 19o0 F-A Series D 348 Erie& Pitts gug348 B.1940 J-J 1940 J-J C Series J-J 443 N&C Bdge gen gug A. 1945 A-O 1940 St L gu 4 48 P C C <fe 984 984102 9738 13034 13934 1U3 984J'ne'0b 100 1004 . . <fc 984 Sale 984 974 981. 9739 99 41004 994 132=8 Apt '06 13034 Feb'Ot; 12934 Nov'Oi) M N W Olnd 984 J'ne'Ob 941 CB&Qcoatr4s iS'eeGtNor St P & N P gen g 6s. ...1923 Registered certifies.. 19 2 1931 St Paul & Dul 1st 58 l-^lj 2d 53 103 105 19bh Ist consol gold 4s 116 1203s 1948 Wash Cent Isl g4s 112 11734 Nor Pac Ter Co 1st g 68. .1933 By Cal see So Pac Nor 11 914 94 &O Vor Wis See C St P 93 14 96 Y Cent 1074107 4 Nor & Mont See .See C C G & St L & 113 11538 hio River RB Ist g 58.1936 193; General gold 58 94 4 '97 Ore <fe Cal See So Pac Co 126 127 983^ Jan Ob 1144J'ne'0« .\I-S J-J 933, 12,T 94 110 <fe g4s.. 199; Q J 1997 Q-J Registered a2047 Q-F General lien gold 38 o2047 Q-F Registered 1996 J-D St Paul-Dnl Div g 48 1996 J-D Registered Nor Pac— Prior lien 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 May'Oti 1996 Div'l lstl& geng48...1944 J-J Pocah C & C joint 4s.. 1941 J-D Registered 101 101 120 Feb 'Ob 107 4 Apr'Ob 11538 Apr'06 1131s. 10.'>J.i 1204 Il4l4ll4>i 1144J'ue'06 116 iS'ov'Oo 93I4 "93 4 Sale 933, 96 12378 10b 109=0 lOSUlO'^'^ lOSUApr'Ob , 107 4 105 4 92 4 95 110 103 95 1064 109 'e May'06 107 , 106 F-A 93I4 964 113^4 116 1135, Uoi4-Miiy'0b 107^4 10(i4 May'06 IO5I4 105 106 9234 Sale Q-F 89=8 87 94 88 105 7g 108 129 131 130 1.. M&M & Clear C<fc 984 97 Apr'Ob 97 105 '4 Mar'05 Improvem'tA extgb8..1934 F-A M 2d gold 53 4 ib44 ioi"4 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 Rocli Ko Jan- lOi' J-D 11)20 Os 1st i» 1011^.1 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 •2SHj 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 *58 60 60 .^ "'r>i 7 149 *6i4 148 54 121 148 54 149, •116 Ivil •108H3 109 120 120 63 53 * "*i 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 52 Hi 118 Do Chic 52 H Chio 118 Jluc 109H, Clue 151) 90 90 • I2OI4 •119 "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 io4'" 104',' i'04" lb'i\ 131 I3II4 103 Hi 104 132 lb2 103H»104Hi ioi'i^ 1311^1 i'o'i''^ Last Salt 10>4 zl\}2h 135 10» 126 104 H, 103 W^ 10>4 lO^t •37 *37Hj 38 38 •37 103> 39 • 10 1* 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 ireb24 Last Sale 3 Jan 2 193 '196 197 190 197 *196 197 4 14 Mexican TeleplLoue.. 10 i'5'60 •334 418 141 Apr 6 131 Dec 14014 Apr 4 4% •4 41-4 4 279 132 Jau •334 *334 3Hj 4 100 234 Jau N E Telephone lob II18 Jan 15 i 135 135 1 Jan 16 134'4l34Hi 13434 135 135 135 135 135 Jan '06 PlantCom t'st stk comlOO 10 Jau 17 Jau LastSale 1 Ha Ha * 23I4 H 100 Do pref 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 »S2 Jau 228 230 9SaJanll lOiflApr 230 230 95 230 !^30 230 230 *229 231 Dec 114 Jan 10 Reece Button-Hole.. 10 •9H! 93^ 10 •9Sa 10 10 891 J!l02 Jan 16 10 5 '4 Mar 9 100 J'ly 23 Jau 10 10 10 100 'i)^ 10 10'2'38 10238 Swift & Co IS 23 Feb 1 •2^ Jan 103>2l04S 104 104H2 a;l02H2l02H2 IO214IO2I4 24\ Apr'06 Torrington Class A.. 25 103 Hi 104 ],aSlSatc 25S3Mar29 26-4 Apr26| 25 .Maj 27 Aug -22 Ha '-23 •22 44 ^3 •22 Ha '-^3 •22Ha li-l Do pref 4 Si -Aug 2 Si May 2-4 Jau 2'.^ LastSale 2614 Apr'Ob Union Cop L'd & Mg. 25 •26 2 J uell •26 200 *26 •26 25 Feb 11334 May 17 103 Api 115 2 2 100 1,519 103i4May 2 bO'sFeo 11 57 J'ut 90 Aug Fruit "•zHz 3 i'luJ^' United i'l'63i 825 73 Jan 10 110^110% llOialll'4 iVi" ill's Ill UlHi ill" 111 Hi 80 i30"8Dec 34HjAug 80 Un Shoe Mack Corp. 251 81 81 81 81 437 30 Apr 5 32 Jau 27 34''8Jiin 57 Dec 81 81 Ha 81 Hi 81 251 81 81 Do pret 31Hi 311s 31 31 31 48"6Febi;' SiHaFbb j' 31 303* 31 3034 i034 *3034 31 100 Rubber LastSale ^fi-'s Feb 'Ob U SDo pref 109 May23 113Sa Jan 13] 98 '8 J"" 117Sa--4.pr 100 24'8Jlay 4.5 ij Dec 4j6'4 Jau2u LastSale 2(/i^Sa J'ne'06 100 17,040 3634 May 3818 91 May 10/ Dec 393, U S Steel Corp 38^8 4018 40 403b 4038 41 85 102 14 .May 2 ll3i8Feb 11 40 Mai •67 Sa Jan 4034 41 100 40Ha 41 Do pret 10434 105 14 104 14 105'^, 40 Jau 26 50 Jan 151 25 loo"* lOO"* •lOo'elObivj 106 lOOHa I06 106 50 J'ne'06 West End Land 17 Si Jan 18 11 Dec 2 2 Si Feb Last Sale • 45 •45 *-45 "ii 12 Jau 2 *-4& 101 Feb West Telep & Teleg.lOO •12 13 13 88 .4.pr25 98 Si Jan 19 90 Oct 92 Mar 12 "ri'i-l '12 •12 13 1 '12 13 •12 13 100 Do prel 92 Ha 92 S2 -92 93 93 77HaJ'ue 8 86 Feb 7 82 12 Oct 100 Oct '01 92 Ha •92 92 Ha -91 El <& Mlg... 50 •91H2 92H< Last Sale 771-j J'ne'OU Westingpref 82 80 May24 98 Jau 11 91 Ma> •SO •80 82 '77 83 •77 83 .. 50 Uo J'ne'06 90 95 Last Salt i/W •90 95 •85 95 •85 95 JJLiains , ,„ 8i4Apr 4 1 234 Ma; tl0i4Oct 5 Jan 10 loo 25 *534 Oi* AdrentureCon 18 Api 49 Oct 6Sj 47 Jan 6Si 6 •6I4 6 '4 61, 6 •OI4 87l) 33 Ha May 7 25 Allouez •36 Sa 70 Jau UlSaDeo 37 36 38 14 3814 3SI4 2b,lol 96^0 -May 4 lis Febl3 38 H 38 38^4 38 H 1534 Deo 8 J'ui 104Sa- 106 14 .'^.nxalgamated CopperlOO I634 Jail 8 9 Apr 24 107 '8 108 H I0712IO8&6 10734 I09I8 107 Ha 108 Sa 104''8l073< 9 73 Si Dec May'06 Am Zinc Lead de Sm. 25 11^4 Lastsalo Si 57H2May 2 74 Feb 14 25i4.Ma) <9 •9 •9Ha 12 15 12 "9 12 25 Anaxjonda, Nor 7 1 iMa> 6 Jan 8 3 Mar 67 428 67 25 3 Nor Arcadian •45 3=8 J'ue 3 2 Jan 334 3 '6 -3S8 3 Si 334 -334 'e J'ue 3Sj 4 33< 334 25 J'ne'oe Arnold 28i4Jau 6 12H2.\la> 2o'8 0ct 'a •1 114 Last Sale II4 *1 •1 IHi -1 1125 "s'o'o 1034 May2.-5 49 '8 Feb 14 28 May 3 7 Si Dec I3I4 13 H Atlantic 30 Juel5 13Ha 13Sa •1314 14 13^8 133, •1334 1418 •1334 14 3OI4 Bingham Con Min<fc S 50 2,990 •45 May29 75 Maris •50 Ma> \)'o Oct 30 30 14 31 3238 31Sa 31Hal 32 H 32 32 3314 3314 (Dev Co)... 10 12",3"6"6 20=8 35 Dec 534 Jau J'ne'06 Bonanza LastSale •4.5 -45 -55 Marl. 33 Si Jau 2 •55 ••45 45 55 45 •55 28 14 28 Bo8tonConC&G(rct8) £1 28 291s 2919 30 2914 303s 322 108 May 3 120 Apr 17 01 J'ue 720 Dec 2834 30=. 2814 28 H 10 & Ariz 112 112 Caiumet 112 112 112 113 42 075 May 2 715 Jan 15 •10 .Mai -20 Oct 114 Ha 114 H ll-iHill4Hj U314II4 25 690 690 Calumet <fc Meola 690 690 10 Feu 8 12 Jaul2| 685 6o5 •685 695 34i8 0ct 690 695 '695 700 10 Fob 'Ob Gatalpa (Silver) 32 Jau 12 16=8 l*li" Last Sale lU 25 i",i'7o 21 Apr 2 b 8 Sa J an 5 Si Sep 22Sj 2 21 Sa 22 s Centennial y Ha Apr 2. •22 Ha 23 5 Ha Apr 2^ 23Hi *23 23 H '223 231-^ •75 Oil 25 "7'5'0 May Apr'Ob Central 60 .May 2 -70 J an 2-i 30 Mol 85 Dec • 5Ha Last Sale 5^ 5 Si 5Ha + 5Ha Cons Mercur Gold., 14 •60 -60 86 Si J an -JO 64 Jau 60 •60 2 ''e'o'" •60 •62 "60 62 ••60 •63 'Jo' Range Con ColOO 3,598 6934 May 19 18 Jan 22 Nov liSaMai 74>4 75 copper 7433 76 763^ 76 7634 7634 77 346 14 Mar 771, 77 77 20 8634 Mar 157, Daly- West 15Ha 7434 Mayll 84 Feb 13 60 Jau •15Sa 16 16 14 *15Sa 16 16 16 16 16 16 100 Deo Last Sale 7734 J'ue'06 Uominion Coal 118 Apr 30 l2.« Mario 113 Jau ii:0 *79 -79 '7y •7a 100 4 Oct Do pref 2 Slay Apr'OO 234 Jan 12 LastSale lis 2 Feb 23 •118 126' •118 120 '118 120 118 i2o' 12 20i8Oct River 8 .Api May'06 Elm 21 Feb LastSale a 2 2 2 2 25 1,688 14SaMay 2 13=8 Mario Kranfclin Jau 1038 Deo 5 1734 18 1714 171. 938 Jau 17 "l7"'8 18 18 17 'a 17 'fe la 407 IB-* I8I4 Consolidated. 10 32 Hi Dec 12 14 I2I4 '12 121' (iraaby *12»4 123, 24^8 J'nel5 3134 Apr 16 2034 j'm 12 12=8 I'-^'S 12 12 7 '4 Apr 12 Greene Consolidated. 10 4,243 3 Jau '25 718 Jau 18 24=8 2514 25 26 14 25 Hi 4HaJau 26 2534 261* 26 a;25=8 25=1 2 8 '4 Jau J'ne'06 Ooauajuato Cousol.. Last SaU 5^ -5I4 17 Apr 27 2938 Jau 6 17Hj-Ma) 13 Si Mar •5 Ha •5Ha 534 "''4 5'b 160 534 "5Ha 6 May 19 Isle Koyale (Copper). 25 1218 J an 13 l8Sa I9I4 19 K, 18 Sa 19 634 Apr 28 •19 •19 20 20 220 *19Hi 20 1 'g Oct J'ut 734 Mass Cousol 734 1 Si Jau 4 •70 8 7H 7Si 8 81. 8 •8 •8 ai4 150 50 Mar23 8 25 Mayflower lOifiJan ls38Dec •60 •50 ••50 60 -50 60 •60 525 11=8 May 2 17 =8 J an •60 Ha Ha 25 6434 Dec Michigan 48 Maj '13'" 12 12 67 J'ue 1134 12 •12Sa 13 6I4 Deo 131* •12 Ha 13'. •12Sa 13 25 1,158 64 Ha Mar Jiy 2 66 Mohawfe 7 Hi Foblj 65 Hi 6 6 'a an 3 J'nel 66 Sa 6634 6634 66-34 6634 663^ 440 6634 6634 13 Deo Montana Coal <te Coke 26 3 3 3I4 3 3 3 3 11 Jan -6 20 Apr 18 lOHaDec 93 Deo •3 1,470 3^4 314 3H 18 14 Nevada. Cousolidated 95i4.MayiO 34 Aug 18 1834 1884 19 1918 183i 19 ••19 19 19 14 19 15 6,2o2 7434 Mill 2=8 Oct •75 Ma) 1''8 Jan 11 89 North Butte 88=8 88 90 34 .Mayl6 9OH2 90 9114 510 90 Sa 911^ 91 91 Ha 92 25 Old Colouy '•70 •90 •70 •90 47HiFeb2(J 23i4Ma) 36 SaDeo 34 •65 ••75 1 25 1.206 35 Jan 'i 112 Mayl 7 88 Feb 115 Oct •38 19 39 Si Old Dominion 39 40 41I4 41i< 4034 403, 4II4 41^ 41Hs 4iH: 25 1,373 93 Mar Deo 22 J'ut 47 107ia 109 Osceola 109 111 1,072 26 May 16 48 Jau 2 •50 Jut liO ilOi< llOSalll'i 111 111 ill 111 314 Jan 27I4 27 28 Parrott(Silv<fc Copp) 10 iSaJau 4 27 27 Ha 27 27'<2 '28Hi •28 29 HI •60 May 10 114 Janli 95 Ma) lis Jau •28Hi 29 Phoauix Cousol ••60 34 •80 •90 ••60 3, I4 •34 85 Mar 5 1 34 6 14 25 s^aOcl li4May 95 yumcy 8 s Jau 19 4'^4 Apr 28 93 Ha •95 92 Ha 97 98 98 100 955 98 98 98 3 Jau li^.'da) 2=8 Jau 16 434 4Hi Rhode Island 6 4Ha 6 lSaMar2u 5 5 6 5 Cop) 10 1,225 9 Jau 6=8 t'Bl) li<j MaylO IH Santa Fe(Gold<fc *1=8 I't 534 J an 10 10 I't *1«B -IBs I's •1»8 •1=8 134 l^*10 6,267 lOi ila> 140 .Mar 81* Shannon 8 834 8 83e 8», 16l4 0Ct 83. 8Ha 184 90 J'ue 9 122 Jau 2 834 8 Si 25 8=B raniarack 2 95 95 95 95 95 95 Apr 28 lOisJau 8 24^8 Feb 5334 Deo 9 95 •95 95 90 98 25 1,015 J 'ut; lli-j IIH Tocuiuseh 52 Jan 6 Ilia 1134 1134 12 1218 I2I4 1214 12 100 40 May llHa 11 13=8 Keb 25 738 Jan 43 Tennessee... •43 43 46 8i8j'nel4 12 Si Apr 5 *42 45 '42 45 •43 47 •44 47 25 1,680 Dec 8I4 Trinity 9 Mai 75 78 Feb 7 8Ha 9 as 834 9 9 9 9 9 9H 9 100 4,005 57i4.May 2 Deo United Copper 4 62 62 LU Feb21 7 9 Hi Not )iti Dec Gl 03 64 63 88 Jan 63^8 64 H> 63 Ha 63=4 63 Hi 633j 100 1334 Do pref 14 Apr M.ay'06 14=8 Mar30| Last Sale 93 *9!t 100 •90 100 2-^0 1034 .May •90 lUO •90 100 11" Unit States Coal &-0 il 2 '11^ 66 Jan 20 llHa 12 1134 113, 1134 113< 1134 1134 •11^8 12 16,0o8 51 Mar oSSi U S Smelt Rof.cfeMin. 50 3,272 43 47 Sa Jau 20' 68 59 57Ha 58 'e 59Ha Mar 5ai« 6034 591-^ 60=t 59'8 59 '8 50 Do prel 6934 Jan 12 393b Mai 68=8 Nor 4634 47 46 Ha 46H, 4634 46 \ 46 '8 47 4 634 47 47 47 5 4,897 56 May Utah Con (Gold) 60=8 61 9i4Marl4| c2 M»> t7H!Oct 6038 6IH2 6114 61 Si 6*8 Jau 6118 62 H 62 H. 62 62 Ha 62 H 15 Ha Feb 25 1,063 8I4 8I4 7 Ha Dec ai4 10 Marl9 83e Victoria 8 814 8I4 8I4 6 Feb 8 814 8 250 8 26 Winona 105 Jan 1 34 Deo 7 7 6S *6Sa 6H1 634 •6Ha 66 131 Jan 30 151 MarlOJ 6H 6Sa 2^8 Feb 6Ha 6Hj 7I4 25 ligJ'ne 138 Wolverine 13/1413714 '137 134 Jau2ol 137 MaylO 137 1 '137 139 *136 138 •137 138 26 J'ne'06 Wyandot. II4 LastSale •1 •1 -1 II4 •1 II4 <»fix-(UT.&tl«liU »Hli.-nghW. BuUndtiSiioa. llNwwaWCt. tAM'tpAiiL ItfOl. cBetorepay'lolaaseso'tBoaJlcdiii laoj rfBetorepay'tolaasess'tscaUeUin SI0»4 9034 90 90 102 >« lO'^H; M02H: 1(3S.. J4!t 2i\< 24a • Mo2 l;)3S. loS •15'J *89'-j lOJ'.j > 8SS1 893. '.' 102 Si 102i4lOi'-j ! • •J . 1 1 ' , --J '/ I "^i '.'.'.'.'• 1< '-J "-J ' ' Si, * '-J U 1 , " 'i ' ' H5 June 16 1906. J Wkkk Knoinu Junk /VlC8 15 Hanrie or Am BeU Tclenhone 4n 1908 Am Tel(^p & T<?1 coll tr 4,s.l}V2V Am Writ Paper 1st s 5s 191it 9S J.J J-J J-J >; dW 1907 91 1.01 'g Boston Boston 94 '8 lOi'^t.Muy' 42 '8 '2 89 109 Jan 1939 2d cons ino Ss Mich Telep cons 5s tr rec.1929 J-J Minne Gen Elec con g 5h 1929 J.J 1929 FA New Eng Cot Yarn 5s 1906 A-O New Eng Teleph 68 100 101 1907 A-O 6s 103 18 103 ig 1908 A-O 63 99 100 1915 A-O 5s 1027gl05V, New Eiiirland cons g 5s. ..1945 J-J 1939 A-O 97^2 99=8 Boston Term 1st 4s 92 10484 . Apr'06 Feb '05 Nov'05 12(i 109 101 1011-2 "-2 1011. J'ue'OU II2I4 Jan '03 106 Feb '06 98 100 100 97 Jan'Oi 100 May'06 100 ig J'no'U6 103 Sep '05 103 If Apr '05 101 111 ".2 Jlai'06 137'8 Apr'06 140 .Kiir'05 98 '4 11100 981-4 9838 1(121-; Fremt Elk<fe Mo Vl8t6s..l933 AC 1933 A-O Unstamped 1st 6s at Nor (J B & Q coU tr 4s 1921 J.J 134 98 ^ Sale 1921 Q-J Sale 98-*8 — Not Per Ccmuuiii Mondavi June 11 Tuesdai/ June June 12 '.'.'.'.'. •8534 ..99341001-2 *8GSa. No price Friday ACTIVE .STOCK.S 881ft -ilh. "SO'ti. 100 S2 Stoctcs see June 13 below) 01 96'" 60 60 60 lOH ibifl I6I4 1614 bl'^ 3534 ll^s 52 15 39 197, I6I4 39 1978 I6I4 1618 101 1^2 Apr'06 9 *40 20 110 84 lj 5214 52 35''s 36 11=8 52^4 3o'6 11", 95 lOo 11='4 10 39 42 20 h *l'd->i 111 "lOV 85 Sz 841-i 39 ^, 20 liO S3l2 67 50 601-2 511? 8I2 67 51 51^1 8I4 •25 14 70 -„ 72 •4534 46 "4 48112 48V! «2'<i 25 63 Ha 85 12 85 's 30 * Is Vi 7038 71\ 461a 4616 48 '4 49 63 63 8478 85 H. 30 <fe 36% Cambria 11=8 11='4 Ilia 1134 11'^ 11 Steel Electric Co of •8 10 Gen Asphalt *38 *19 40 100 Do prel tr ctfs 100 Lake Superior Corp beiugh C & Nav tr ctls. 50 50 Lebigh Valley 100 MarsdenCo 50 Peuusylvania RR 8538 2 83b 63 So 63 8618 T\ 100 57 49 734 1-. 68 50 ifi 10 I4 1.^ Iron & Steel. N'oitheru Central 50 ^fo^th Pennsylvania.. 50 Pennsylvania Salt 50 Pennsylvania Steel.. 100 Prelerred 100 Phila Co (Pitts) pref.. .50 Phil Germau<fe>(orrls.50 PUila Traction 50 Railways General way; 10 Susqueh Iron <& Steel lueh Tidewater Steel: 10 10 Preferred 73 71 110^4 IIII2 11114 Warwick Ironcfe Steel. 10 West Jersey & SeaSh.50 • 50 El(-r..l00 Bid ajid asked 86 '^ 30 07 2 116 "14 Roch 100 100 4 Ph & Read 2d prlo«e; Ist 5S-'33 53 1920 M-N 1111-2 <fe 41-23 '14. Q-J . ... i08 Si 100 100 14 105 87 88 6978 6934 1051, 1914. Q-F Consol 68 1923 J-D J-D Gen cons 4s 2003. M-N Leh V Trac 1st 4s '29. J-D 122 Vj 149 97 Hi i'u''^ II314 124 Daily, 106 49'-2 99 63„ 1 7 1948 J-D Newark Pass con 5s 1930 NY Ph<fc No lst4s '39 J-J '8 3b 612 61s 95 5 No Penu Ist 48 '36.. M-N 6s r 1910.. Var Penu gen Consol 5s r Marl.-^ 5 Jan May SigMay 3034 11 -; U Kx-rtghts. || 'Ti'i; 50 90 Ibo 3521.2 871-2 1234 I Ask 98 H, ibo 90 73 92 t >i 13 361^ .^5 10 105 103 100 110 91 91 103 110 103 110 116 & Ch Ist 7. ..1907 J-J J-J J-J Confl Hy cou58l932 Kit* Imp 5s. 1932 71--V *16 pud. t *10 Mar30 83 an Jan 9i 62 19 34 MS i Highest 5 '-2 •! 1 Maj May 9 Mai Ui 4773 Jan 12 ^ Apr 64 18 J 1-2 Si BAi.TI.>l014i:; Chas Ry G & El 58 '99 M-S Charl C «fc A ext 5s-'09 J-J 2d 78 1910 A-O CitycfeSub 1st 5s. .'22 J-D i:;ityd; Sub(Was)lst5«'48 Coal & 1 Ry 1st 5s'20F.A Col JbGruv l8t6s.l916J-J Cousol Gas 68...1910 J-D 5s 1939 J-D Ga<fc Ala Istcon 5s '45J-J G a Car * N 1 st us g '29 J-J Georgia P 1st 6s... '22 J-J 42 105 1-. '4 1003e 94 94 Norfolk St Isl 5s '44. .J-J North Uont4i-2S 1925 A-O J-J Series A 53 1926 1 -J Series B Ss 1926 Pitt Un Trac 5s 1997.J-J Poto Val 1st 53 1941--J-J Sa V Fla it West 58 '34 A-O Seaboard 2\. L 4h 1950 A-O Roan os 1926. J-J Scab •South Bound l«t5a..A () <.fc U El L&P Isl 4 '2H'29 M-N Un Ry & El 1 St 4s '49 M-S J-D Income 48 1949 Va Mid 1st ()8 1906. .M-S 112 104 ^W imuO. a Booeipta. Dec 34 i<i 54 3734 12 14 Apr 90 11034 Sep an 21 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 en C7» Ct c;i •slic ® ICCO I® 1® i.® p^ O M tO-^ OitO MO OitO p I® IE jL® i.f IE if 'S I® pp pp p pp pp pp ~:^ O". 1 s. pp pp pp PP PP PP PP PP ;OP oso> ® © I® IS ^3! O ^ > c o ^ bS: ^-J X CO en I© 1'^ I® pp PP PP PP OP OP pp OP g ' pp o I oi 'oi'a >-P ® I >fe. ® I pp pp pp pp pp pp pp pp bib< bo bo ibbi oicn WtO «0^ *.M <Op 00^ ^M PM @ ® ® © ® © © ® ® pp pp pp pp pp pp pp I ife(«»- i(^'>t>. -^'-J ife'*- CA5h- I I I I I coco U^i^ COM coco I I I PP PO pp pp pp pp ®- I® to SS T® C;i p p>t^>-'0oi-' I i^ktc i^^co cnii^ rf^ O tOCn'^P^^OOi s s ® 1® I® I® I® I® pp OP pp pp pp pp pp I© <I MH-^CO<I^-i coco 00 pp OP pp PP PP PP PP PP PP Co COCO CO en en <o^^ PO cnM ^5^o oom enCn 'it;.eo in'it^ 'o>h\ »j h- u 4>. 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Ph^^eni CDi-'O I® -- 1— CO copt OONJCO ostoco ^cn i-^-3lCO — 00 to MOO H-O CntO" -tOtOtOOtOCnCOCnP^-CnCOO-, lCSstOtCtt)COtO ^ONIi penCn<IOii*'COPPCn'— p*>cotoo: (O^PfO>(>. — OOP H-eni-'i OS -J I® " p*^pi POopi ® ®© ©® ©® ®® ®® ®® ®® ®® ®® ®® OP p pp pp pp OO OO OO pp pp p (i 00o M -4 cn '<ItO CnCn i-ip ifc. cnco co^*.0!oeocnMenp>->-(N;p; col^ooob>b^lo-JO~V.^3'o'•^V.^Ol^3MoVJO^^s'^coa: 'c-.!C*-"t>; Ic'pp c-.t-i i^'tO'^Oit'P^^JO; tOi*»-ooen(otocoooooi— ph5-viccopptc*-cna-. >t«oo 05P topp oico osqsaiPo^^oocsenj^-^>— Oif^^cQH.'p-^t.s^co'.^j^p pp pp PO pp OP pp — p ^^ — I- H-aiCnCocn-.0 ^p^( wto^-cn'— OOCnOiit'-MOsifeoo >b.Cn»4*-ife00t\SXenp3-. tc 05i^-OOPtJPls3'-'^P*-tOK300tO(>3MO>tO^COOO'— OOOiOOOXWCOCnCO ® ® I® I® I® I® I® I® I® I® I® I® I® pp PP PP PP PP PP OO !® -= -a. S£.go 02. 'An' 5 » to rS)^ &3"5' .'Aioit^i-'coosp^top^en*. os^oioOH-oocopt -OSOOOentorf^OO^^f^a.rf^toencOOi^t^MOOOl-^OOiC en O J^ o to to 4^CO00*.Cn00rfitO^M^'— — tO-JOCOloO>^!OtOO CiPtooo totoeno^o to to •— to 00 Cn ^ Ct o to OO ,*^ en in CO ^ CO to to M oi c; OCnrf^P ® ,**. p ento~apit^eo 0100Cnrfi-OOH-^4»0>eoC»OOCOOOOlOO>^OOCnenp 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 ^ 1 ' "0 O n ' CO 1 1 oo ro CT h5 ci *. to to 2S w M 5< hj "-" W to CO to oo ^ — — to w OitC to oi 00 50^ R >-- ,' o 00 — 00 to O i OtO M Tl 01 to 00 00 tote to mVi"c5"*.'oo — (OO^"'to'to'^-oc'-j it^M "—00 Cn ,;>. *. 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CO ^ to 00 00 to to *.J OOOOCn^J (K<b.^lXU> "^Cr. T* ^' f^S — to >Tl O pi H X osp 00 cop — OS ^ — tDbi'*.'o*8 — *. CO —^oo '^ to 00 oi to 4^ cr. O 8.,571 12.483 5.159 13.300 2 O ^~' c * ° ' ?r, gag" 3i S 3 ' ' — H- CO w to Smce Week. C 1 O 3 '6.^ B ^ 2 ^ -^ = T §:;;; < 2 s; tg o: 2^? ^''. o 2 o >-h' 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 — bi CO *. CO 4i>--tDrf^0O to •J Oi to Cn — 05*. 1—< *.., H-, a >- CO o OOtc^tDJ^ 9f- to ccso o>o> 5 c K > g H >- *.^Ii;» lO woo 0O~J WC/C rf'OOtCO OS to to 06 CO o ^ Ct — 05 ^ C CnCOii*.*. w O O OS CO to o 00 "co"to -00 — CO — coco — to to CO Ct »-• 00 <o to 00 CO OS CO to Cn 05 COtn ©^ ,t>.to OS to coco to c to 00»s^ — O to Cn to O — QOCOO *. S ,^ — to OS 00 C-i- C.T — > s — rfi. to Oi OS *-! uC Cut*! — „3 z ^itootoo^ O OCO^^CnW c'to=^ c; *~oS- n -0..Q > CO Oto^C;<tO to Ct Oi to OS c-i ?1 n H _z to !*>. ~a ii 00 *.CO»1IO coos oct<t>os CO ^1 4^ OIOOOOSOO --coco- (if lO to ti lO CO 00 *. 00 *^ ^1 0> fi 00 — to 00 •JO IOCS toco OS to to X — OS o Ib-^rf. 10 O — CC — -^»;9k MCJI CnCO u H- to 0. > *! O CO 00 *.xos^*. 00 Ci OS '30 v; CO *.^ — *.MO00 M M to oi O to ^Oi 05 to -1 00 o -JOOOtO*. to C CO CT to *. H X M lO CO X — OS *.-! ~9".-^Q'S. OOCncoo; C-t — -— COiJ — M^O 05 CnO^^J 00*. CO OS to to o * MtO — 52=. {-; t. — — M Oi * 00 O ^i Oi Q — lootooto*";^ — *. to — 2 * — Oi oi c; g > z — • 4» 00 -^j 00 ~a to -J to s y « — N- to y 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. — — — — — — — I — — — 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 — — — — — — — — 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 — — — — 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 — — — — — — — — — — — , — — — — — — — 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. — — 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. — — 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. — — — — — — — — — — . . . — 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 — — — — — . $8,000 4% — — — 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. — — — — — Interest annual. — — 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 ( . — — 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. — — (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. — Mount Vernon School — — — — — — — — — — — — 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. — — 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 Bankers' Money Order Association la now a familiar feature of American banking. This Bank ? 1906 1S60 ONE PIECE OF PAPER GOOD THE WORLD OVER Are You a Money Order York, June Uth, 1906. Toronto Junction, Canada. Traverse City, Mich. Van Wert, Ohio. Pentwater Mich. Perry, N. Y. Portland, Me. Lincoln, Neb. Columbus, Ga. New South Bend, Ind. St. Mary's Ohio. Oakland, Cal. Havana, Cuba. Cal. Sawtelle, Cal. Sioux City. Iowa. N.B., Canada. Mount Olive 111. New Bedford. Mass. Grand Rapids, Mich. Chicago. 111. Clayton, Mo. Cleburne. Texas. new Santa Monica, Cal. Florenceville, Germany. its BROADWAY. 176 Building, to in the Columbus^ Ohio. Dayton, Ohio. Akron, Ofilo. Albuquerque, N. M. Allentown Pa. Auburn, Maine. Auburn, N. Y. Battle Creek Mich. Bellingham, Wash. Berlin, following cities; Los Angeles, Cal. Manchester, Iowa. Marianao. Cuba. Medford. Wis. Miamisburg, Ohio. Broadway 146 '^uQinttvs Bond & Mortgage Co. MACON. MlSSOUltl. J. (Established in 1889.) MISSOURI MUNICIPAL BONDS— School, City, Coimty and Drainage Our list gives a wide selection of many attractive issues in sizes of $2,000 to $100,000 Opinion Chicago counsel, full legal papers furnished We buy direct and handle nothing on brokerage Close buying, large volume and small profit make our offerings attractive Send New for latest circular York, Chicago, St. Louis and Kansas City references G. WHITE & CO. FOR SALE. Engineers, Contracfors, NEWSYORK 43-49 Exchan«re Place, InTestleations and RepnrtH on Electric Railway, Uas, Elt-ctric LtKlit, and Poorer Transmission Properties for FInani-lnl Ins'itnilona and luTestors. In sets from Volume 1, 1865, to date or single volumes from 1880. Commercial and Electric Power Plants Financed, Designed and Built. J. «. & financial New Electric Bailways, Electric Light Chronicle, York. Ziondon Correspondent: VTHITE & CO., Limited, Cannon St. Canadian Correapondenta: CANADIAN IVHITE CO., Limited, U'ia Colleare Hill, Whiting Papers Montreal. Wll.LlAM K. COMPTON. President.l 4 Warden Balldinir. CHRONICLE VOLUMES Principal Philippine Office, Manila. P, 1. READY JULY 15. Hand-Book of Railroad Securities. JULY EDITION. ..... PRICE OF SINGLE COPIES, TO SUBSCRIBERS OF THE CHRONICLE, To Bankers and Brokers WILLIAM B. - In qnantitlefl, with their oarda lettered In cover, at speolal rates. For Fine Correspondence $1 00 75 gilt on : BtandArd, i DANA PEABL COMPANY, Publishers, YORK. PII7E STRKET, OORITER STREET. NEW for Oeneral Business Uses are made in Ledger, Bond, Linen and Fine Writing in rariety. and WHITING PAPER CO., Philadelohia. Chicago. If Ilia I Holroke, Mrm. NcwYork. »