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GEMrRAl LIBRARY
IINIV. OF
Bank and Quotation Section
State and City Section(semi- Annually)
(Monthly)
Street Railway
Section (Th^^M#)
of Librarian of Congress, Washington, D. Q
Railway and Industrial Section (Quarterly)
Entered according to Act of Congress In the year 1907*by William B. Dana Company, In Office
A weekly newspaper entered at Post Office, New York, as second-class matter—William B. Dana Company,
AMERICAN BANK
NOTE COMPANY
78 to 86 Trinity Place. New York
Reorganised 1879
Business Founded 1T9&.
Engravers » Printers
BANK
NOTES, SHARE CERTIFICATES,
BONDS FOR GOVERNMENTS AND COR¬
PORATIONS, DRAFTS, CHECKS, BILLS
OF EXCHANGE, STAMPS, ETC, WITH
SPECIAL SAFEGUARDS TO PREVENT
COUNTERFEITING 0 LITHOGRAPHIC
TYPE PRINTING
AND
NO. 2191.
TICKETS OF
ffiuaacial.
THE LIBERTY
FISK & ROBINSON
NATIONAL BANK,
financial.
HimmciaL
*
Publishers, 76$$ Pine St., N. Y.
NEW YORK JUNE 22 1907.
YOL 84.
0 RAILWAY
IMPROVED "STYLES
BANKERS
NEW YORK.
Capital, Surplus and Undivided Profits*
Government Bonds
Investment Securities
$3,250,000.
FRED'K B.
The National Park Bank
of New York.
Organized
1850.
$3,000v000 00
8,645,154 03
102,615,140 03
Capital
Surplus and Profits
Deposits May 20,1907
OFFICERS:
President
Vice-President
...
.
Harvey ST.,
Fisk NEW
& Sons,
YORK
62 CEDAR
Government, Railroad and
Municipal Bonds,
VICE-PRESID ENT.
and other
MAURICE H. EWER,
CASHIER.
TRUSTEES:
Chairman of the Board
Francis L. Potts
Edmond C. Converse
Warren L. Green
Andrew V. Stout
Phineas C. Lounsbury
A. Jaretzki
T. H. Freeland,
WILLIAM
INVESTMENT SECURITIES.
WILLIAM A. MAIN
O. JONES,
-
-
Bankers and Dealers in
JOHN C. McKEON,
VICE-PRESIDENT.
JOHN G VAN CLKAF,
GILBERT G. THORNE,
VICE-PRESIDENT.
Joseph Fleming, ... Vice-President
Chas. L. Lee
Treasurer
secretary
Frank K. Johnson, ...
D. G. REID,
Vice-President.
JAMBS Y. LOTT
CPshler.
FRED'K P. McGLYNN
Asst. Cashier.
HENRY P. DAVISON,
Chairman Exec. Com.
DIRECTORS:
Geo. F. Baker,
E. C. Converse
T. A. Gillespie,
Henry C. Tinker
if. L. Hina
B. F. C. Young,
H. P. Davison.
Daniel G. Reid,
Arthur F. Lake,
Charles A. Moore,
J. Rogers Maxwell.
Charles H. Warren.
Ambrose MonelL
Frederick G. Bourne.
Fred’k B. Sohenck.
Charles II. Stout.
BOSTON
NEW YORK
SCHENCK, President.
CHARLES H. STOUT
Vice-President.
CHARLE8 W. RIKCKS*
2d Vice-President.
RICHARD DELAFIELD,
PRESIDENT.
Warren L. Green,
D. E. Woodhull, -
MJCH.
ASST. CASHIER.
FRED*K O. FOXCROFT ASST. CASHIER.
ASST. CASHIER.
Philadelphia,
represented by
Jamss H. Chapman,
Chicago, represented by
421 Chestnut fit.
D. K. Drake,
Continental National Bank Building.
Our list of Investment
Securities sent on applioaUon.
CHARTERED 1810,
Members of Richmond and
Baltimore Stock
Exchangee.
MECHANICS’ NATIONAL
John L.Williams & Sons,
BANK.
Edward B. Smith & Co.
33 Wall Street.
BANKERS
BANKERS,
Corner 9th and Main
Streets,
Capital,
RICHMOND, VA.
Baltimore
Correspondents:
middkndorp, Williams
A Co
-
Surplus,
-
-
-
-
-
$3,000,000
3,000,000
INVESTMENT SECURITIES
Members Hew York
Main Streets,
Capital & Surplus,
$1,500,000
OFFICERS:
WILLIAMS, President.
FREDERICK E. NOLTING, Vice-President.
T. K. SANDS, Vice-President <fc Cashier.
JOHN SKELTON
H. A. WILLIAMS, Asst. Cashier.
JU. D. CRENSHAW J R., 'Trust
Welsh,
INVESTMENTS.
ORIGINAL CHARTER 1829.
AND OTHER
MUNICIPAL RAILROAD
THE
BONDS.
Officer.
Chase National Bank
328 CHESTNUT
STREET, PHILADELPHIA.
Clearing House Building
Cap.&Surpn $9,436,000 Deposits, $63,345,000
HEPBURN, President
H.WIGGIN,Vice-Pres. E. J. STALKER, Cashier
A. B.
A.
Directors:
GARFIELD NATIONAL
EQUIPMENT OF THE
FOURTH
NATIONAL
OF THE CITY
BANK
Of NEW YORK
—CORNER NASSAU AND
STREETS
—
IS
PINE
ESPECIALLY
ARRANGED FOR
HANDLING
MERCANTILE ACCOUNTS.
GALLATIN
|
NATIONAL BANK
BANK,
CF THE CITY OF NEW
23d Street and Slxtb Ave„
Henry W.Cannon. Chairman. James ,T. Hill
Oliver H, Payne George F. Baker John L Waterbury
Grant B. Schley
A. Barton Hepburn
Albert H. VViggtn
George F. Baker Jr.
X11E
Philadelphia.
New York.
Francis Ralston
Richmond, Va.
511 Chestnut Street
7 Wall Street,
Bank of Richmond,
N. E. Cor. 9th and
and Phila. Stock Exchanges,
New York.
Capital
Surplus A Protits (earned)
Capital
Surplus
-
-
-
-
-
Founded
-
»n
SI.000 000
1 000 000
1784,
THE
Banking Association.
ACCOUNTS INVITED,
$1,000,000
2,300,000
OFFICERS
:
Samuel Woolverton, President
Alexander H. Stevens, Vice-President
j George E. Lewis, Cashier
!
Howell T. Manson, Assistant
BANK OF NEW YORK
National
YORK
Cashier
DIRECTORS
Adrian Iselin
;
Jr.
Frederic W. Stevens
t ALEXANDER U. STEVKNS
1
w. Umdxn Booar^.iv
Chas. A. Pkabody
Samuel Woolvertojt
CHARLES U. TWICD
tuouas Desirr
THE CHRONICLE,
n
ankers and Jlranjrrs of
[VOL.
LXXXIV
ISfurrign UrcTxange.
J. P. Morgan & Co., Maitland,Coppell & Co., Kidder,
Peabody & Co.,
YORK.
WALL STREET
52
CORNER BROAD,
WILLIAM
NEW YORK.
Drexel k
Morgan,Haijes&Co.
Co.,
Cor.of6th & Chestnut Sts. 31 Boulevard
Haussmann,
Bills of
Exchange, Telegraphic Transfcrst
Securities
Deposit* received subject to Draft.
bought and sold on Commission. Interest allowed on
Deposits. Foreign Exchange. Commercial Credits.
Cable Translers.
Circular Letters for Travelers
available in all parts of the world.
ATTORNEYS AND AGENTS OP
messrs. J. S. MORGAN 6c
-
CO.,
LONDON.
-
on
STREET,
BOSTON.
Issue Loans.
Letters- of
DOMESTIC AND 1< (JR El ON BANKERS.
No. 22 OLD BROAD STREET,
116 DEVONSHIRE
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
PARIS.
PHILADELPHIA.
STREET,
NEW
BANKERS.
Credit,
.
Union of London & Smiths Rank, Limited.
London.
Messrs. Mallet Freres & Cie., Paris,
INVESTMENT SECURITIES.
FOREIGN EXCHANGE.
Banco Nnclonnl de Mexico
And Its Branches.
LETTERS OE CREDIT.
Agents for the Bank of Australasia, the British
Guiana Bank, Demerara, etc., etc.
TRAVELERS* LETTERS OF CREDIT
Available throughout the United States.
Brown Brothers &
PHIL A
Co,,
BOSTON.
NEW YORK,
59 Wall St.
August Belmont & Co.,
BANKERS,
No. 23 NASSAU STEET.
ALEX. BROWN & SONS, BALTIMORE.
Members of New York Stock Exchange.
Agents and Correspondents of the
Messrs. ROTHSCHILD,
CONNECTED BY PRIVATE WIRE.
Mems. N. Y„ Phila., Boston & Baltimore St’k Exch’s.
Buy and sell tirst-class In¬
vestment Securities on com¬
mission.
Receive accounts
of Banks, Bankers, Corpora¬
Investment
Securities.
tions, Firms and individuals
on favorable terms.
Collect
drafts drawn abroad on all points in the
States and Canada; and drafts drawn in the
States on foreign countries, Including South
United
United
Africa
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT
Letters
of Credit.
Buy and sell Bills of Exchange
and make cable transfers on all
points.
London, Paris and Vienna.
ISSUC:
LETTERS OF
CREDIT
FOR TRAVELERS,
Available In all parts ot the world.
Draw Bills of Exchange and make Telegraphic
Transfers
to
EUROPE, Cuba, and the
other West
Indies, Mexico and California.
Execute orders for the purchase and sale
of Bond* and Stocks.
Issue Commercial and
Travelers’ Credits, available in
all parts of the world.
BROWN, SHIPLEY & CO., LONDON.
Cuyler, Morgan & Co.,
44 Fine
J. & W. Seligman & Co.,
BANKERS,
Street, New York,
No. 21 Broad
Issue
Letters of Credit to Travelers
Available in anv Part of the World,
DRAW BILLS OF EXCHANGE AND MAKE
TELEGRAPHIC TRANSFERS OF MONEY TO
EUROPE, CALIFORNIA AND THE HAWAIIAN
ISLANDS.
Buy and Sell Investment Securities.
AGENTS AND CORRESPONDENTS OF
Seligman Brothers, London.
Seligman Freres 6c Cie., Paris.
Alsberg, Goldberg 6c Co., Amsterdam.
Anglo-CaliforniauBk.,Lt.,SanFrancisco
Street, New York.
BANKERS
INVESTMENT
TAILER&CD
SECURITIES.
MEMBERS OF NEW YORK STOCK
Mmond&Ca.
EXCHANGE.
27 Pine Street, New York
33 Pine Street, New York
KESSLER
BANKERS
&
CO.,
BANKERS.
64 WALL STREET, NEW YORK.
Members ot the N. V. Stock Exchange.
INVESTMENT
SECURITIES
liny and Sell Bills ot Exchange and
Cable
Translers
on
all
the
Principal European Cities.
ISSUE
COMMERCIAL
Winslow, Lanier & Co.,
59
CEDAR
NEW
Transfers.
STOCKS. BONDS AND INVESTMENT
SECURITIES. ACT AS FINANCIAL
-
INVESTMENT SECURITIES.
AGENTS FOR CORPORATIONS.
Fhiladelphiai 507 Chestnut Street
Heidelbach- Ickelheimer & Co..
YORK,
BANKERS.
BANKERS,
37 William
Deposits Received Subject to Draft. Interest
Allowed on Deposits.
Securities
on
Street,
MEMBERS N. Y. STOCK EXCHANGE.
Execute orders for purchase and sale of
Stocks and Bonds.
Commission,
Graham & Go.
BANKERS
Foreign Exchange Bought and Sold.
Foreign Exchange, Letters ot Credit.
Issue Commercial and Travelers! Credits
available in all parts of the world.
Kean,VanCortlandt&Co
11 William Street.
80 PINE STUEET, NEW YORK.
General
Foreign ana Domestic
Banking Business.
a
Schulz &
Ruckgaber,
BANKERS,
BANKERS,
Transact
Members New York Stock
Exchange; Executo Commission Orders.
Foreign Cable Service a Specialty
RAILROAD
STREET,
Bought and Sold
Do a General Foreign and Domestic
Banking Business and issue Letters of
Credit, Bills of Exchange and Cable
TRAVELERS’
AND
CREDITS, BUY AND SELL
Cables “Mimosa*’
607
Street,
PHILADELPHIA
Government
Securities
and
Municipal Bonds,
of Railroads, Street
Railways and Gas companies
of
New York.
Members New York Stock Exchange.
Correspondent* of Messrs.
Frubling & Goschen. London.
Joh. Berea berg. Gossler & Co., Hamburg.
-
Marcuard & Co.. Paris.
Bremer Bonk. Flll&le Dresdner Bank, Bremen.
Issue Commercial & Travelers’ Credits.
Chestnut
established
Act
Issue
as
value
Financial Agents
Foreign and Domestic Letters
Credit and Travelers’ Cheques
ot
Buy and Sell Bills oi Exchange.
Cable Transfers and Investment Securities
Dealers in Investment Securities.
LawrenceT urnure&Co. MOSLE
John Munroe & Co.,
No. 30 Pino
Street, New York.
Boston.
No. 4 Pont Ollicc Square,
Issue Circular Letters of Credit for Travelers’ Use
Abroad Against Cash or Satisfactory
Guaranty of Uepayment.
Exchange
on London, Paris,
Zurich and St* Gall.
Credits Opened
Berlin,
and Payments Made by Cable
Paris House—HUNItOE 6c CO.
Bankers,
50
Wall Street, New York.
Deposits received subject to draft.
Interest al¬
lowed on deposits. Securities bought and sold on
commission. Travellers credits available through¬
out the United States, Cuba, Puerto Rico, Mexico,
Central America and Spain. Make collections in and
issue drafts and cable transfers on above countries
London
Hankers:
—
Loudon
Bank, Limited.
Paris Bankers 1—Heine Sc Co,
BROTHERS,
16 & 18 EXCHANGE
Joint-Stock
PLACE,
NEW YORK.
COMMERCIAL CREDITS,
FOREIGN EXCHANGE.
Attorneys and Agents op
MESSRS.KONIG BROTHERS.Bankers
LONDON.
June 22 1907
THE CHRONICLE.
iauhers.
JBatihera.
era.
Wm. A. Read & Co.
BANKERS.
Lee, Higginson & Co.,
BANKERS
Investment Securities.
IVew York,
Street,
Dealers in
CHICAGO OFFICE,
25
NASSAU
HIGH-GRADE BONDS
STREET,
NEW YORK*
The Rookery.
205 La S«JIe St.
203 E. German St.
43 State St.
Members New York and Boston
Stock Exchanges.
Plympton,Gardiner & Co,
Members New York Stock
Exchange.
CHICAGO.
BALTIMORE.
BOSTON.
Members New York
Millett.Roe & Hagen
3 Broad
Street, BOSTON.
44 State
m
J. B. RUSSELL & CO.,
Boston, 10 Post Oittce Square.
Members N. Y. Stock
Exchange
BANKERS
and Chicago Stock
46 WALL
Exchanges
ST., NEW YORK,
DEALERS IN
27 William St.,
New York
50 Congress St.,
232 La 8alle St.,
Chicago*
Boston.
Conservative
High-Grade Bonds
AND
Investment Securities.
Investments.
Geo. P. Butler &Bro.
BANKERS
Safety Deposit Vault* lor Use of Customers.
LISTS ON
BEQUEST
Members t
Financial
Representatives of the Illinois Tunnel
Company.
Financial
N.W. HARRIS & CO.
William
check
interest on balances.
fiscal agents for munici¬
and allow
as
Electric
Company.
CHICAGO, ILL.
CARBONDALE, PA.
WILKES
READING, PA.
DAYTON, OHIO.
BARRE, PA.
SCRANTON, PA.
BINGHAMTON, N. Y.
Beoelve deposits subject to
Act
Investment Securities
Representatives of the Automatic
palities and corporations. Issue
letters of credit and deal In
BOND8 FOR INVESTMENT
LIST ON APPLICATION
NEW YORK
35 Wall Street
Harris Trust A Savings Bank
CHICAGO
N.W. Harris & CoBOSTON
Railroad and other
BRANCH OFFICES:
BANKERS
Pine Street, Corner
NEW YORK
New York Stock Exchange.
1 Chicago Stock Exchange.
Goldman, Sachs & Co.,
BANKERS
43
EXCHANGE
NEW
PLACE,
YORK,
Members of New York Stock Exchange.
Execute orders for purchase
and
Kissel, Kinnlcutt & Co.
87 Wall
Foreign and Domestic
BANKEBS
of Stocks and Bonds.
Buy and Sell Foreign Exchange.
sale
CABLE ADDRESS
Street, New York.
BILLS OF EXCHANGE
•’COLDNESS."
CABLE TRANSFERS
Blake Brothers & Co.,
60
84 State Street,
Exchange Place,
NEW YOKE.
BOSTON,
Dealers in
and other
Members New York & Boston Stock
Exchanges.
GOODWIN
BANKERS
Corporation Loans, Collateral Loans
Commercial Paper
also
High-Grade Investment Securities
Railroad
Ill
Broadway-
NEW YORK
Charles
Equipment Trust Issues.
35 Congress St
BOSTON
1st Nat.Bk.Bldg
CHICAGO
Head
&
Co.,
Members of
New York and Boston Stock
17 Broad Street,
NEW TORE
Exchanges
74 State Street,
BOSTON
20 King St., West, Toronto, Ont.
86 St. Francis Xavier, Montreal, Que.
Private wires connecting all offices.
Exoluslve
IN
Investment Securities
and Commercial Paper
Cor. of Wall and Broad
Paper.
Investment Securities.
&
of the world.
DEALERS
INVESTMENT SECURITIES
H. B. HOLLINS & CO. N. W. HALSEY & CO„
MUNICIPAL BONDS.
BOND
Available In all parts
POINTS
CITY
NEW YORK
Commercial
Issue Commercial and Travelers*
Letters of Credit,
COLLECTIONS MADE ON ALL EUROPEAN
private wire to Cobalt, Ont.
Draw Bills ot
BANKERS.
Sts., New York.
Exchange and make
Cable Translerg to Europe,
Asia, Aus¬
tralia, the West Indies, Central and
South America and Mexico.
Issue Letters ol Credit tor Travelers,
available in all parts ot the world.
BONDS
FOR
Interest Allowed on
INVESTMENT.
Deposit Accounts.
Fiscal Agents for Cities
49 Wall Street,
Philadelohia.
and Corporations.
NEW YOKE.
Chicago,
San Francisco
Zimmermann & Forshay,
,
BANKERS.
9 and 11
NEW YOKE
PHILADELPHIA
Wall Street, New York.
Membert New York Stock Exchange.
for Invest*
Orders executed for stock* and bonds
ment or on margin.
FOREIGN EXCHANGE
E. D. SHEPARD & CO.
Bought & Sold
LETTERS OF CREDIT ISSUED.
Cable Transfers to all Farts of the World.
BIRD S.COLER,
Member N. Y. Stock Exchange.
LEONARD H. HOLE.
W. N. COLER &
CO.,
BANKERS
59 CEDAR
LONDON
BOSTON
ST.f NEW YORK.
INVESTMENTS.
Stern &
Schmidt,
FOREIGN EXCHANQE,
INVESTMENT SECURITIES-
27 WILLIAM STREET.
Members N. V. Stock. Cotton and
NEW YORK.
Coflee icxchange*
[VOL. LXXX1T
THE CHRONICLE
IT
©atiadiau
QcncxxgTL
BANK,
DEUTSCHE
BERLIN, W.
The Union Discount Co. Bank of Montreal
[Established 1817.]
of London, Limited.
CAPITAL
89 CORIfHILL.
BEHREN8TRA88E 9 TO 13.
947.010,000
~
M. 800,000.00*.
*6—£1 STERLING.
123.810,000
NOTICE IS HEREBY GIVEN that the BATES
OF INTEREST allowed for money on deposit are
100.000,000.
PiTIDMrPB PAID DURING LAST TEN TEARS:
10,10)4, 11,11,11,11, U, 18,18.18 per oent.
ae
follows:
At
AJTD THE
Deutsche Bank (Berlin) London
4 George Yard, Lombard
Agency i
8t.
LONDON, E. C.
.
Call, 2& Per Cent.
NEW YORK OFFICE:
Hays’ Notlce/234 Per Cent.
Company discounts approved hank and mer¬
cantile acceptances, receives money on deposit
at rates advertised from time to time, and
loans on approved negotiable securities.
R. Y. HBBDEN,
W. A. BOG,
J. T. MOUNBUX,
CHRISTOPHER R. NUGENT. Manager.
FRENCH FINANCE CORPORATION
OF AMERICA.
throughout the Dominion of Canada.
London
Office, No. 46 A 47 Threadneedle St.
W, W. Tailor, Manager.
Market.
ffjOtttiglL
ACT AS FINANCIAL AGENTS IN FRANCE
FOR
S4.190.000
M. 17,000,000
$098,000
Reserve Fund
RAILWAY
AMERICAN
CORPORATIONS
EN THE OBTAINING OF LOAN8 AND
SALE OF
SECURITIES.
M. 8,088.000
NEW
HEAD OFFIlCEl
25
BERLIN.
PARIS,
YORK,
Broad Street.
The London City &
Midland Bank, Limited,
9, rue Fillet-Will
HEAD OFFICES
5 Threadneedle Street, London, England.
Branobesi
Amutthu: Bahls-Blsncs.BelLimis^Biienoa Alree,
Cordoba, Tueuman
BOLIVIA: Da Paz, Ornro.
Onu: Antofagasta, Conoepcion, Iqulque, Osorno,
Puerto Mentt, Santiago, Temuco, Valdivia, Val¬
paraiso.
FDD: Apequipa, Callao, Lima.
UaoeUATi Montevideo.
BP ADI x Barcelona, Madrid.
Bills sent for ooueeHon, negotiated or
advanced upon.
Drafts,
> Agents.
)
and Cable Transfers; grant Commercial and Trav¬
elers' Credits available in any part <€ the world;
issue drafts on and make collections in Chicago and
(Deutsche Ueberaeeiaohe Bank.)
Capital
)
Buy and sell Sterling and Continental Exchange
BANCO ALEMAN TRANSATLANTIC!)
Paid Up
PINE STREET.
No. 31
grants
Securities for the Frenefc
S4.761.000
.
E. S. Clouoton. Vice-Preet and General Manager
Parekassrs of First-Class Investment
Subscribed Capital
M. 80,000,000
.
$14,400,000.09
11,000,000.09
159,811.84
Head Office—Montreal.
The
BREMEN, DRESDEN, FRANKFORT-0»-M„
HAMBURG,
LHIPBIC,
MUNICH.
NUREMBERG, AUGSBURG
WIESBADEN,
.
Rt. Hon. Lord stbathoona and Mount Botal
G. O. M. G
Honorary President
Hon. sot George a. Drummond K.G.M.GJPresMent
At 3 to 7
BkAHcnt:
...
UNDIVIDED PE0FITS
2,250,009
Reserve Fuad
RESERVE
M.
97400,000
3,750,000
Capital Babserlbed
Paid Up.
paid in
BEST
Telegraphic Address, Udisco, London.
HANTAI#.
gaufcs.
With Branches In all the Principal
of England.
SWISS BANKVEREIN
Cities and Towns
Telegraphic Address: Cinnabar, London.
ESTABLISHED 1830.
SUBSCBIBED
CAPITAL, $75,428,400
CAPITAL,
15,714,250
BE8EBVE FUND,
15,714,250
PAID-UP
BASLE, ZURICH, ST. GALL,
GENEVA, LONDON.
cable-transfers and letters
E. H. HOLDEN, M. P„ Managing Director.
of credit issued,
London Agents.
Deutsche Bank (Berlin) London Aornctt.
4 George Yard, Lombard St., London,
K.C.
Capital, Paid Up
Surplus
-
Fr. 62,800,000
BOISSEVAIN &
Fr. 14,280,000
24 BROAD BTREET,
NEW YORK.
Direction der
Members New York Stock Exchange.
Disconto-Gesellschaft,
.
BERLIN, wM
BREMEN.
Stintbhuckb 1
FBANKFORT-on-M^
LONDON, E. C..
Rossmarkt la
58 CORN HILL.
Telegraphic Address, DisooHToes, Bsbldt.
“
"
**
*
M
**
DlSOONTOGB, FRANKTUBTILAIN.
SCHWOLDS, BRIM1N.
Soondito, London.
CAPITAL, fullj paid,
TRANSACT A GENERAL BANKING
AND STOCK EXCHANGE BUSINESS,
Berliner
Handels-Gesellschaft,
BERLIN, W.f
BehrenatfassV~iS-M^fahd Franses!iohe?8tnus«e <5
TslefraphU^XASrsss:—ManMscheft, BsrHm
of
India,
Capital
$6,000,000
Reserve liability of stockholders.. 6,000 000
Reserve fund
7,376,000
Undivided profits, 1906
466.000
BRANCHES THROUGHOUT
O.
Brace-Webster.
ASIA
Agent,
88 Wall Street, New York
$18,712,526 Banking Transactiens of Every Description.
....
Bank
Australia and China
ESTABLISHED 1854
M. 170,090,000.
RESERVE,
Chartered
DRAFTS, CABLE TRANSFERS AND LETTERS OF CREDIT
$40,476,200
-
Adolph Boissevain A Co.,
Amsterdam, Holland.
Established 1861.
49-44 BlHXlN 8 TRASS a.
CO.,
M. 57,590,611.
With the unlimited personal liability of
the foUovriny partners:
A. SCHOELLER,
I
M. SCHINCKBL,
A. SALOMONSOHN,
I
J. HOITIS,
E RuSSKiL,
F. Urbig.
Capital,
Baaerr.,
-
-
M.100,000,000
Hong Kong & Shanghai
-
-
M. 30,000,000
Paid-up Capital (Hong Kong Currency)..flO,000,004
BANKING CORPORATION.
Reserve Funds
Reserve
BRAS1LIANISCHE BANK
The National Discount
fur Deutschland.
CAPITAL
51
Head Office:
10,000,000 00
HAMBURG,
anches: Rio dk Janeiro, Sao
Porto Alegre.
Paulo, Santos,
Company, Limited.
35 CORNHILL,
LONDON, E. C.
Cable Addrese—Natdis, London.
*
Bank fur Chile und
Deutschland.
vaPITAL
uu
in iu.uw.uuu 00
.Ml0,000.000
HAMBURG, with branches In CHILI (Banoo de
Chile A Alemacla); Valparaiso, Santiago, Coaoepsson, Temuco,
Antofagasta; and in BOLIVIA
eanooand
de Ororo,
Chile A Alemanla, Seocion Bollvlana),
pas
The above-named banks, founded and represented
n
„
Europe by the
Direction der Dleoento-Geeellechaft,
Berlin
Bremen, Frankfort o/M and London
Narddeateebe Baak ta Hamburg.
H unitmo, oiler theh services for every description
of regular banking transactions.
Subscribed Capital
$21,166,625
\ {£
{ ••
Liability of Proprietors.
*1.000.00#
10,000 09#
GRANT DR A ITS, ISSUE LETTERS OF CREDIT, NEGOTI¬
ATE OR COLLECT BILLS PAYABLB IN CHINA, JAPAN,
PHILIPPINES, STRAITS SETTLEMENTS, INDIA, ETC.
WADE GARD’NER, Agent, 50 Wall St.
INTERNATIONAL BANKING
CORPORATION.N - %°.w
CAPITAL ds
SURPLUS,
,6,500,008
Paid-Up Capital
4,23 «,325
Reserve Fuad
2,000,000
Buy and Sell Sterling and Continental Exchange and
Cable Transfers. Negotiate Draw or Receive
for Collection Buis on Points in the
Orient. Issue Letters of Credit
NOTICE I8HEBEBY GIVEN that the RATES
OF INTEREST allowed for money on deposit are
as follows i
Branches at London, Bombat, Calcutta, Singa¬
pore, Canton, Hong Kong, Manila. Shanghai,
Kobe, Yokohama. San Francisco, Citt or
Mexico, Washington, D.Cl, Panama, Colon.
—
($5=ȣ1 STERLING.)
At Call, 2% Per Cent Per Annin.
At t to T or 14 Hays’ Notice, 234 P.
C.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised from
time to time, and for fixed periods upon terms to be
especially agreed upon.
Loans granted on approved negotiable securities.
PHILIP HAROLD WADE, Manager.
H. SCHERER &
BANKERS.
CO.,
Collections, Forelga Kxchange and Invest¬
ment
Securities.
MEXICO.
gsmhs and Hankers.
Canadian ganfes.
THE CANADIAN BANK
OF COMMERCE,
HBAI)
T
THE CHRONICLE,
June 22 1907. i
Baring & Co.
OFFICE, TORONTO.
810.000,000
CAPITAL*
SURPLUS...*
PAID-UP
BANKERS
fi,000,000
BANKERS
15 Wall Street, New York.
NEW YORK OFFICE:
Nee. IS AND 18 EXCHANGE PLACE,
Wm, Gray and H. B. Walkxr. Agents
Continental Ex¬
change and Cable Trnnnlera, OwnneroUl
Bv and Sell Sterling and
Buy and Sell Foreign Exchange.
Issue Commercial and Travelers’
Oelleedens made ut
Letters of Credit.
Investment Securities
Banking and Exchange business of every
description transacted with Canada.
Agents and Attorneys for
and naTelers* Credits.
Mackay & Co.
all Feints.
LONDON OFFICE—2 Lombard Street, E.C.
BARIN6 BROTHERS & CO., Ltd.,
Members of the New York and
Boston Stock Exchanges. Beal
era in Government Bonds and
other Investment Securities. In¬
terest
allowed
on
deposits.
LONDON
BANKERS IS GREAT BRITAIN:
Nassau and Pine Streets
The Bank of England.
The Bank of Scotland.
New York
Lloyds Bank Limited.
Union of London and Smith’s
Bank, Limited.
The Bank of
British North America
ESTABROOK & CO.,
Paid-up Capital,
Reserve
Fund,
.
.
.
....
15 State Street,
Charter in 1840
41,000,000 Sterling
400,000 Sterling
34
Merchants’ Bank of Canada.
BROAD
Undivided
JACKSON & CURTIS
118 branches In the Provinces of Quebec, Ontario,
Manitoba. Saskatchewan, Alberta and British Co¬
lumbia. Good facilities for effecting promet collec¬
tions in Canada. Bay and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
eler!’ Credits, available In any part of the world.
London Agents—Royal
The
BANKERS
Municipal, Railway
Corporation Bonds
NEW YORK
67 MILK STREET
36 WALL STREET
MEMBERS MEW YORK AND BOSTON
STOCK EXGXANOEB
INVESTMENT
SECURITIES
Bank of Scotland.
Sovereign Bank of Canada
members Beaton Stock Exchange
BOSTON
BANKERS
Prefils
W. M. Karnsay, Agent.
Geo. A. Fer nald &Co.
and other
$6,000,000
4.034,256
NE W YORK OFFICE: 63 and 65 Wail St.
Rest and
19 Congress Street,
Boston
Street,
New York
1 Naasau
H. W. POOR & CO.
INVESTMENT
71 Branches Throughout the
Dominion
NEW YORK AGENCY, 25 PINE STREET
fforeiffti
421 Chestnut St.
Philadelphia
STREET, NEW TOK.K.
GOYEBNHENT, MUNICIPAL AND
CHOICE RAILROAD BONDS.
HEAD OFFICE: MON 1 REAL.
CAPITAL
Boston
Beeten.
INVESTMENT SECURITIES.
Hbad Onraox:
0 Graoochurch Street. London. E. C.
New York Office: 52 Wall Street
H. M. J. McMIOHAEL.lAgents.
W. T. OLIVER.
J
Buy and'seil Sterling and Continental Exchange
and Cable Transfers: Grant Commercial and
Travelers’ Credits available In any part of the
world.
Issue Drafts on and make Collections In
Ad parts of the United States and Canada.
Congress St.
BANKERS,
SSTABUSHKD IN 1880.
Incorporated by Royal
15
SECURITIES
8. D. LORING,
CJSidney Shepard, j
HOMES LORING
S. D. LORING &
Anglo-Austrian Bank,
spec1***
SON,
NEW YORK
BOSTON
33 Wall Street
33 Conoress bt
BANKERS,
LONDON: 31 Lombard St., E. C.
VIENNA: I. Straucligasse
64 Devonshire Street,
.
.
Boston.
BRANCHES:
Ausslg, Bodenbach, Brunn, Budapest
Constantinople (Coenca, Amar ACie),
Pilsen, Prague, Teplitz, Tetschen,
Trautenau, Trieste
Tucker, Anthony & Co.
BANKEBS A BROKERS,
INVESTMENT BONDS
S3 STATE
STREET,
BOSTON.
Established 1863
members Boston aid New
Capital, Paid up,
...
K 60,000,000
12,000,000
Reserves,
Rudolph Kleybolte& Co.
Telegraphic Address:
BANKERS.
Anglobank, Vienna
Con)unctus, London
DEALERS IN
The English Association of American
1 Bond & Share Holders, Ltd.,
*5
MUNICIPAL, RAILROAD and
8TREET RAILWAY
BOND8.
OREAT WINCHESTER STREET. LONDON,
Acts as Agent In
Canadian Railway
England for American and
and Industrial Companies.
Trustees and Directors.
ALVMD W, 8m iTHERg, Choir moo
Lord Wemt.W. Lr'CDLRT, T. Reyn OLM—London
T. P. Fowixr—New York
Tbe Association’! Agents in America and Can¬
ada are Tbe Morton Trust Co. and the Bank of
Montreal.
87-29 PINE STBEET, NEW YORK.
Interest Paid on
DailvandTime Deposit.,
THOMAS LINDLEY. Secretary.
H. AMY & CO.,
Jordaan Cohen & Wennink,
BANKERS.
PARIS.
Foreign Ooielided ea next
Yerk Stock
Kxchangee.
SIMON BORG & CO.,
BANKKBS,
Member* of New York Stock
No. 26 Nassau
Street,
-
Exchange,
New York.
High-Grade
Investment
Securities
BERTRON, STQRHS ft GRiSUNN.
BANKERS,
44
and 46 Wall St., New York.
Lui KHD
INVESTMENT SUOUBITIB8.
Bills sf
Exchange.
Letters of Credit.
INVESTMENT acUWWMWS,
|VOL. LXXXIV
THE CHRONICLE.
VI
Stoladjelptoa gankjers and grokers
fforjeigtt.
National Bank of Cuba
BANKERS,
Cardenas
Cienfuego* Matanzas Santiago,
Manzanillo. 5*gua la Grande, Caibarien, Goan-
Santa Clara, Pinar del Rio, Cama-
tanamo,
guey,
Gallano Street, Havana Cuba.
GENERAL BALANCE SHEET DECEMBER 31 190€.
ASSETS.
In Vaults
$4,135,064
Banks and Bankers
548.169
Bonds and Stocks Owned—
Government Bonds..
...*2,585,135
Exchanges
Members Phlia. and New York Stock
Interest Allowed on Deposits.
112 So. 4th St. and 100-102 Girard Trust Bldg
PHILADELPHIA, PA.
Members of Phila. A N. Y. Stock
j
82
3,769,994 39
10,496,331 64
73,171 03
...
377 853 03
74,044 63
*19,474,629 14
Total
Battles, Heye & Harrison
J. W. SPARKS & CO.,
BANKERS.
BANKERS AND BROKERS
Corner Chestnut and Third Sts.,
DEALERS IN HIGH-GRADE UNLISTED ’ •
(WTTTT^nm.WHTA STOCK EXCHANGE
NEW YORK STOCK EXCHANGE
CHICAGO BOARD OF TRADE
AND INACTIVE LISTED BONDS
FOR INVESTMENT PURPOSES
LIABILITIES.
*5,000.000 00
600,000 00
Capital
Surplus
a Undivided Profits
Deposits
263.735 22 *5.763,735 22
13.710,893 92
a
131 South 6th Street
62 Broadway
PHILADELPHIA
NEW YORK
*19.474,629 14
Total.
Deduct *200.000 4%
semi-annual dividend, pay¬
able January
1. 1907.
United States Depositary in Cuba.
Depositary for the Funds of tbe
Republic of Cuba.
Havana
Bank of
Exchanges.
Investment Securities
83
59 *4.683.234 42
1.096.255 24
City of Havana Bonds
88.603 33
Other Bonds and Stocks..
Loans, Discounts. Time Bills, Ac
Furniture and Fixtures
Bank Building
Sundry Accounts ....
...
Co.,
BANKERS Sc BROKERS
PHILADELPHIA
321 Chestnut Street.
New York Correspondents:
Cash—
& CO., Walter L. Ross &
E. W. CLARK
Benj. C. Warnick & Co.,
Investment Securities
f
Private
Wiree, N.Y., Pittsburgh, Chicago
JOHN H.McQUILLEN & CO.
Members Philadelphia
Stock Exchange
BANKERS Sc BROKERS,
141 South 4th
Street,
Dealers In
Syracuse Rapid Transit
Philadelphia, Pa
HIGH-GRADE RAILROAD AND OTHER
CORPORATION BONDS AND STOCK.
Send for our Circular.
Stocks and Bonds
104 South 4th
PHILADELPHIA
Street,
W. a. hoppzb.
H. s. hoppxb.
Members of Philadelphia Stock Exchange.
Acts
as
dent
of
Cuban Correspon¬
Accountants.
Banks
American
Wm. G.
UNITED STATES DEPOSITARY
Arthur Young &
OSS & CO.,
VAN
THE
Co.
Investments reoeive our special attention.
mation sheer fully furnished regarding
holdings or pro nosed investments.
Certified Public Accountants
HAGUE, HOLLAND.
Tel. Address, Voco.
Codes, Hartfleld s Wall St., W. U. & Lleber.
^financial.
New York,
Chicago, 1315
Kansas City, 701
Pittsburgh, 1709
30 Pine Street
Monadnock Block
New York Idle Bldg.
Farmers* Bank Bldg.
A. B. Leach & Co.,
BANKERS,
NORTHCOTE,
DUDLEY & COMPANY
New York,
149 Broadway, NEW YORK
London, EL C.
FOREIGN FUNDS
United States.
Fer Investment in the
140 Dearborn St.,
LYBRAND,
ROSS BROS A
807 Monadnock Block
Chicago
11 Poultry Cheapside
Infor¬
present
(ILLINOIS)
Place American Investments in Europe.
49 Wall Street,
Hopper & Co.,
STOCK AND BOND BROKERS.
28 802th Third Street, Philadelphia.
28 State SL,
CHICAGO
BOSTON
MONTGOMERY
Certified Public Accountants
421 Okestnut St,,
PHILADELPHIA
(Pennsylvania)
Land Title Building
PHILADELPHIA.
gatthers.
BANK Wilkinson, Reckitt,
Williams & Co.
MILWAUKEE.
NATIONAL
FIRST
OF
UNITED
Wall Street Exchange Building,
NEW YORK.
OFFICERS'
VUd Vo©hl Tb-j Pres.
Hhnbt Kloes, Cashier.
Wm. BroxLOW, V.-Pres.
Oscab KABTXN.Ast.Cash.
Fbjud. T. GOIX, V.-Pres.
E. J. HuGHBS, Ass’t Caah.
W.
A.
BOOK, Ast.Cash.
W. C. HAAS. Mgr. Foreign & Savings Dept.
LADD & TILTON
BANKERS
PORTLAND
-
-
OREGON
-
a
department
Savings books issued on Savings Deposits
Interest paid on Time Deposits
TRACTION. GAS & ELECTRIC
FINANCE CO.
-
Light
SECURITIES.
LOOMIS, CONANT & GO.
CERTIFIED PUBLIC ACCOUNTAMT8
30 Bread Street New
Tel, 4068 Broad.
Yerk.
JAMES PARK & GO.,
CERTIFIED PUBLIC ACCOUNTANT8
59 Bread way. New York,
189 LaSalle Street, Chicago.
General Banking Business
Bank
-
the management of a National Bank Examiner
of many years’ experience.
Established 1869
Savings
Broadway,
52
J. W. Ladd
C. E. Ladd
W. M. Ladd
7 Wall St.y New York.
New York
Special Department for Bank Fxaminatlons under Railroad, Street Ry., Gat & Elec.
CERTIFIED PUBLIC ACCOUNTANTS
STATES DEPOSITARY.
Capital mjA Surplus, $2,500,000
Transact
HODENPYL, WALBRID6E & GO.,
William R. Compton
Bond & Mortgage Co.
MACON, MISSOURI.
(Established In 1889)
MISSOURI MUNICIPAL BONDS—
School, City, County and Drainage
list giveB a wide selection of
Our
attractive issues in sizes of
many
HOW,
ROSE So CO.,
Certified Public Accountants
NEW
56 Pine Street
Telephone 4*01 John.
YORK
$2,000 to $100,000.
Opinion Chicago counsel, full legal
papers
We buy
on
-
Adrian H. Muller & Son
JOS. B. MAYEB, President,
AUCTIONEERS.
11 Pine Street
furnished
direct and handle nothing
brokerage
Close buying, large volume and small
profit make our offerings attractive
Send for latest circular
New York, Chicago, St. Louis and
Kansas City references
-
We wifi Purchase
or
Finance Electric Railways,
Lighting end Gas Properties
Regular Weekly Sales
OF
LARGE PROPOSITIONS PREFERRED.
MAX B. BORG & CO.
Kiieellaneom
Bonds
and
Curb
STOCKS and BONDS
EVERY WEDNESDAY.
Securities
A SPECIALTY.
90 BROAD 8T.
NEW YORK.
*806 RECTOR.
Office
No,
66
WILLIAM
Corner Pine Street.
WILLIAM
R. COMPTON, President.
4 Wardell Building
THE
SOUTH.
Property and Investments of every
Kind in all Southern States.
8TBEIT METROPOLITAN INVESTMENT CO.,
GEO. B. EDWARDS Prealdent,
Charleston. 8 C..
Juke 22
1907J
yii
THE CHRONICLE
jankers and Urchets outside 3|enr ^Jorli.
BUFFALO-
MEADOWS, WILLIAMS & CO.,
JOHN
Securities
Specialists in Local Investments
GEORGE R. TELLER,
BUFFALO, N. Y.
ESTABLISHED 1883
ROBINSON
INVESTMENT SECURITIES
Street
Member Louisville Stock
MEMBERS
OF
NEW YORK AND
PITTSBURGH STOCK EXCHANGES
Exchange
Correspondent. MILLER A CO.
Wood and Diamond Sts., PITTSBURGH
J. J. B. HILLIARD A SON,
Local blocks.—BONDS.
Established 18TL
Whitney, Stephenson & Co.,
INVESTMENT BONDS.
STREET
100 Powers
Building.
Oldest Pittsburgh Members N. Y. Stock Exchange
8b
BOWEN,
ROBERT C. HALL,
LOUISVILLE, KY.
INVESTMENT SECURITIES.
Municipal and Corporation Bonds
C New York Stock Exchange.
Members t
WOOD
Rochester Stock Exohange.
Daily Lists Mailed
on
Application.
the
BIRMINGHAM, ALA.
AND
STOCKS
BONDS ssssss*
L/Uivy U
AND LOCAL
a
BOND HOUSE OV
H. P-
Taylor 8b Company
248 Fourth Avenue, PITTSBURGH
BONDS.
We will Buy
Steiner
Brothers,
Bonds of the
BANKERS AND BROKERS.
CHAS. SCHLEY
a GO.,
ESTABLISHED 1850
MILWAUKEE,
-
-
WISCONSIN
INDIANAPOLIS
Joseph T. Elliott &
Investment Securities
Members Indianapolis Stock Exchange
American Nat. Bank Bldg.
Birmingham.
■
Alabama.
-
Office j
INDIANAPOLIS
NEWTON TODD
TRACTIONS AND
LOCAL STOCKS AND BONDS.
Fletcher Bank Buildino, Indianapolis.
PROVIDENCE.
INVESTMENT
Dealer In
BONDS
(NO STOCKS)
NASHVILLE STREET BY. SECURITIES
CUMBERLAND TELEPHONE STOCK
Correspondence Solicited
Municipal and Corporation
COULDINC MARR,
Securities Co.
ot Pittsburgh* Pa.
NASHVILLE, TENN.
JL. L. M’(Holland,
Seo. 8c Tress.
JameaS. Kuhn.
LANDIS BANKING CO.,
President
PAID-UP CAPITAL. $200,000
Telephone and Street Bailway
Securities.
NASHVILLE.
-
SOUTHERN.
-
TENN
N A S H V 1 L L E—T ENN.
MOTTU
STOCKS ANDIBOND8
PROVIDENCE. R. I.
,
BOSTON.
Local Securities
Gas, Electric Lighting & Railway ADAMS
Bonds and Stocks
&
&
CO.
BANKERS AND BROKERS
NORFOLK, VA.
COMPANY
13 CONGRESS ST. BOSTON.
BONDS FOB INVESTMENT
MEMBERS BOSTON STOCK EXCHANGE
John W. Dickey,
PITTSBURGH.
Columbia Bank Bid*.
We Bay and Sell
ALBERT P MILLER Jr. THOS. PLATER & CO
1NDUS1 RIAL TRUST CO BUILDING
AUGUSTA.
Co.,
Pittsburgh Stock Exchange.
INVESTMENT SECURITIES.
Walk Street.
11
&
Members
LOCAL STOCKS AND BONDS.
New York
Pittsburgh District
TV. J. Black
Investment Securities.
NA8HVILLE.
Sons.
Avenue,
PITTSBURGH, PA.
BROKERS,
AND
EXCHANGE,
specialty of all the Seoucltlee of
great Pittsburgh District.
Otto Marx & Co.
BANKERS
STOCK
240 Fourth
Birmingham, Alabama.
MILWAUKEE
MEMBER PITTSBURGH
We make
( Chicago Board of Trade.
SPECIALISTS EOCHESTEE SECURITIES
BROKERS,
FRICK BUILDING.
Specialty.
Correspondents, EX. NORTON A CO.. N. Y.
BONBMGHT & HIBBARD
STOCK
RAILWAY SECURITIES
A
ROCHESTER, N. Y.
PITTSBURGH, PA.
LOUiSVlLLE, KY.(
RANKERS AND BROKERS.
Investment Securities
BROS.,
Bankers,
Railway Issues a Specialty
New York
application
DUNLAP,
OUlSVILLK, KY.
Banker and Broker.
BUFFALO, N. Y.
Government, Municipal and Corporation
L.
t
MEMBERS NEW YORK STOCK EXCHANGE
Circulars upon
PITTSBURGH.
LOUISVILLE.
Hugh MacRae & Co.,
BANKERS,
Dealer* In Southern Investment Se¬
curities of Every Description.
WILMINGTON, N. C.,
New York Office, 40 Wall & 37 Pine Sts.
AND
BROKER,
WASHINGTON, D. C.
408 Colorado building.
AUGUSTA, GA.
SOUTHERN SECURITIES.
\
WILLIAM E.
INVESTMENT
BUSH,
SECURITIES,
AUGUSTA, GA.
MUNICIPAL AND
PUBLIC FRANCHISE CORPORATION
BONDS
Bought
and
Sold.
W- J. HAYES &
CLEVELAND, OHIO.
SON,
BOSTON, MASS.
DARWIN C.
JONES,
ATLANTA, GA.
SECURITIES, NEGOTIATIONS.
AND
RICHMOND. VIRGINIA.
Established I860.
Correspondence solicited and information fur¬
Municipal and Kali*
nished about Southern State,
road Investment Securities.
Reference—Bank of New York. N. B. A.
PROVIDENCE
BALTIMORE.
William Wilson A Sons.
Established 1802.
CORRESPONDENCE SOLICITED.
ATLANTA
Davenport &
Co.,
BROKERS,
BANKERS
Richardson & Clark.
BANKERS,
25 Exchange Street, Providence, R. I.
Transact a general banking business. Bonds,
Stocks and Local Securities.
New York, Boston and
Private wires to
Philadelphia.
Wilson, Colston A Co.
Established 1887.
Wilson, Colston & Co.,
Members of Baltimore Stock Exchange,
BANKERS,
216 E. Baltimore Street, Baltimore.
Investment and Miscellaneous Securities
a
specialty, and whole issues handled. Exceptional
facilities for dealing in all classes of Southern
Bonds. Loans on Collateral Securities negotiated.
Tin
THE CHRONICLE.
[Vol lxxxit.
gatihers atul %xefatxs outside Hew Dtorrfc.
CINCINNATI.
CHICAGO.
<^%»»»W)W<MWM<VWVWWW^»WWWWVWWWWV<M,WVWVWVWWnaw/
ST. LOUIS.
Bartlett, Frazier
WEIL, ROTH & CO.
&
CINCINNATI
A.
G.
Carrington,
25
BROAD
STREET
NEW YORK.
WESTERN UNION BLDC. CHICAGO.
Municipal and Corporation
&
SONS,
STOCKS AND BONDS,
GRAIN AND PROVISIONS.
DEALERS IN
EDWARDS
STOCKS AND BONDS,
410 and 412 Olive Street.
MEMBERS:
St. Louis.
NEW YORK STOCK EXCHANGE
BONDS
CHICAGO STOCK EXCHANGE,
CHICAGO BOARD OF TRADE.
1 Wall
SI., NEW YORK.
PRIVATE WIRES.
W. E. HUTTON &
CO.,
INVESTMENT BANKERS
( New
Nei
A. O.
STOCK
Bonds and Stocks of Ohio
139
Companies.
OHTOINNATI,
.
OHIO.
-
Members!
■
Due July l, 1936.
Price
102H-
EDGAR FRIEDLANDER
BROKER
CINCINNATI,
-
OHIO.
-
(
DEALERS IN
Co.,
Investment Securities.
FRANCIS, BRO.&CO.
214 N. 4th
(INCORPORATED.)
DENVER. COL.
COMMERCIAL
Sts,, Chicago.
Municipal and Corporation
Street,
ST. LOUIS.
PAPER,
S. W. Cor. Monroe & La Salle
William E. Sweet Si Co.,
Stock Bxcbnn.e.
Louis Stock Exchange.
Board ot Trade.
Chicago
Chi
MONROE STREET,
A. G. Becker &
AND DEALER
York Stock Exchange.
Chi
} Ht.
BROKERS,
New York Stock Exchange,
New York Cottoa Exchancre,
New York Colioe Exchange.
New York Produce Exchange.
Chicago Stock Exchange,
Chicago Board ot Trade,
St. Louis Merchants Exchange.
Barney & Smith Car Co. 6% 1st Mtge. Bonds
Dated July l. 1906.
}1
CHICAGO, ILL.
ISSUE
NEW
Slaughter & Co.,
Member, >
nemberi New York Stock Exchange,
St. IiOnls Stock Exchange,
Chicago Stock Exchange.
CLEVELAND.
BONDS
GROUND FLOOR EQUITABLE BUILDING
EMERY, ANDERSON & COMPANY
SEATTLE. WASH
Investment Securities.
MUNICIPAL
JOHN
AND
E.
PRICE,
Banker A Broker,
Municipal
PUBLIC
SERVICE CORPORATION
and Corporation
BANK
STOCKS
Garfield
Building,
Cleveland
-
PORTLAND. ORE,
PRIVATE WIRES TO
PRINCIPAL MARKETS
Investment Securities
300 N. 4th ST.
Citizens Building.
BONDS
COAST
Investment Securities
Hayden, Miller & Go.
PHILADELPHIA
Municipal and Corporation
PACIFIC
SECURITIES A SPECIALTY
41-43 Wall St.
LOS ANGELES.
43-49
Municipal, School District and Corporation
PERLEY MORSE. Pres. >
HENRYC
DAVIS.Sm,.$
Exchange PI,
BETTER RATE OF INTEREST
BONDS OF THE SAME MERIT ISSUED
IN THE EAST
Correspond, with,
us
Adams-Phillips Co.
H. P. Wright
Investment Go.
Certified Public
ACCOUIltailtS
municipal and Corporation
BOMBS
Missouri and Kansas Securities
Monthly Oflerinqs Sent
BAKER & VAUGHAN
BANKERS
LOS ANGELES, CAL.
ST. LOUIS
-
Established 1885
Telephone 2269-8270 Broad
THEY PAY A
-
KANSAS CITY, MO.
NEW YORK
CALIFORNIA BONDS
-
CLEVELAND, O.
STANDARD AUDIT CO.
THAN
CO.,
Special Attention to St. Louis Securities
MORRIS BROTHERS
PORTLAND
WHITAKER &
BONDS
BONDS
a
Specialty
on Request
0RTHWEIN, McCRUM INVESTMENT
COMPANY
AND BROKERS
Kansas City. Mo.
WM. R. STAATS
FIRST MORTGAGE GOLD
CO.,
Gas Bonds
CALIFORNIA MUNICIPAL,
SCHOOL
AND CORPORATION
f K.
E. 0.
37
WALL STREET.
DEALERS
IN
NEW
YORK
BONDS
TO
NET
4
TO
6 PER
MINNEAPOLIS.
CENT
LOS ANGELES
FIELDING
WEBB
PASADENA
J. STILSON
INVESTMENT
CO.f
INVESTMENT
SECURITIES,
MEMBER LOS ANGELES STOCK EXCHANGE
74
LOS ANGELES
&
C0„
SECURITIES.
BROADWAY, NEW YORK
WELLS
NEW JERSEY.
CASE,
ESTABLISHED 1889
NEW JERSEY
SECURITIES,
15 EXCHANGE PLACE
Telephone 76L
OTTO JULIUS MERKEL
JERSEY CITY.
Si
DICKEY
CO.
MINNEAPOLIS, MINN.
RONDS
MUNICIPAL and CORPORATION
GEO.
Commercial
EDWIN R.
Ry. & Light Securities
£
i Local Bank Stocks
[ Kans.& Mo. Munich Dal Bonds
B.
Paper
MINNEAPOLIS,
LANE,
and Investments.
-
•
MINN.
BROKER
44
AND
46
WALL
ST.,
NEW
YORK.
A.
Strassburger,
INVESTMENT SECURITIES.
Southern Investment Securities.
Correspondence Invited
MONTGOMERY, ALA.
June 22
IX
THE CHRONICLE.
190T.J
‘Uorli ^tock gickauBC gouscs
T. A.
McIntyre & Co.,
71 BROAD W AT
MEMBERS:
New York Stock Exchange,
New York Cotton Exchange
New Orleans Cotton Exchange
Liverpool Cotton Association.
New York Coffee Exchange,
New York Produce Exchange
.
Chicago Board of Trade
Direct wire connection Boston,
Chicago, and New
Orleans.
CORRESPONDENCE SOLICITED
JOHN r. HARRIS.
H. R. WINTHROP,
MEMBERS
New York Stock
Exchange
Chicago Board of Trade
Chicago Stock Exchange
New York Cotton Exchange
240 La Saile Street
CHICAGO
PRIVATE
the
WIRES
New
Chicago
Cleveland
Board
EFFINGHAM LAWRENCE & CO.
members
New York mock Exchange
C. I. HUDSON &
CO.,
Nos. 34-86 WALL S'L, MEW Y0BK.
Members of New York and Chicago Stook Bxohanges
Chicago Hoard of Trade
Telephene 3070 John.
Telephones 4206-4866-4867 Rector.
PRIVATE WIRES TO PRINCIPAL CITIES.
JOHN H. DAVIS &
BANKERS AND
CO.,
BROKERS,
Members N. Y. and Phila. Stock
STOCKS, BONOS AND
Private wires to principal cities.
Tel 5555 Broad.
CH 1C A (JO. ILL.
Railway Exchange Bldg.
Postal Telegraph Bldg
OFFICES
Waldorf-Astoria. N. Y. C.
Williamsport Pa
Flatiron Building, N'.Y.C.
Wllkesbarre, Pa.
2 East 44th St., N. V. <\
Scranton, Pa.
Buffalo, N. Y.
St. Louis, Mo.
BRANCH
Syracuse. N. Y.
Schenectady, N. Y.
Troy, N.Y.
I'tica, N. Y.
Cincinnati, O.
Cleveland, O
Dayton O.
Detroit. Mich.
Erie, Pa.
Atlantic City, N. J.
Montreal, ('an.
Paterson, N. J.
West End. N. J.
HARRIMAN&
IN V ESTiM
Interest Allowed
BANKERS AND BROKERS,
Transact a General Banking and Stook Exoiiange
Business. We make a specialty of
BRANCH OFFICE, NUHIT&OAV BANK,
327 FIFTH AVENUE.
Newport Office: Audrain Building.
A. M. KIDDER & CO.,
Exchanges.
BANKERS,
Deposits Subject to Check
NEWBURCER,
Members N.Y. and Phila. Stock
Exchanges
BROADWAY, NEW YORK
627 Chestnut
18 WALL. STREET, NEW YtmK.
Established 1806.
Stanley D. MoGraw
William M. Vanoe.
MEMBERS OF NEW YORK STOCK EXC
ALLEN, McGRAW & CO.,
24 Broad Street. New York.
HENDERSON & LOEB
100
Robert H. Allen.
KNTJSEU U KITIES
on
Allow Interest
BONDS
P. J. GOODHART&
CO.,
Bankers
67 BROADWAY
-
NEW YORK
-
Parkinson & Burr,
8TOCK BROKERS,
7 WA LL STREET,
53 STATE STREET
NEW YORK.
BOSTON.
Members of New York and Boston Stook Kxahanget
Private wire between the two offices.
Information given in regard to all Boston Seeuritlet
and
Thomas L. Manson & Goi
STOCK BROKERS
Members New York Stock
Exchange,
Members N.Y. and Boston Stock
T1
Broadway,
BANKERS
•
Orders Executed on All Leading
Stook Exchanges.
Members:
-
H. G.
PHILADELPHIA
MEW YORK
Edwin p. OA^pnar.i.,
Campbell & Co.,
11 Wall Street, New York.
MEMBERS NEW YORK STOCK EXCHANGE.
Bought and Sold
on Com*
mission.
Exchanges
Chas. Fairchild & Co.,
Membern N. Y. Stock Exchange
Private Wires to Boston, Hartford, New Haven and
Philadelphia
STREET.
New York Stock Exchange
| Philadelphia Stock Exchange
888 Chestnut St.,
Tel. 2fee Reefer
INVESTMENT SECURITIES.
7 WALL
"ON.
CHARLES FEARON & 00,
Securities
WOOD,
1 A ’
RAILROAD BONDS
Hxnbt G. Campbell,
quotations furnished.
326 Walnut St., Cincinnati
LADD &
*
deposits subject, to eight check.
GUARANTEED STOCKS.
Members
N. Y. Stock Exchange.
Telephone 8240 Rector
Bank and Trust Co. Stocks
on
Buj and sell on commission st xiks and bonds, and
St, Philadelphia.
STOCKS
CO.,
TRINITY BUILDING, NEW YORK
Orders for Stocks ami Ronds executed upon all
■xohauges In this country and Europe.
Especial atteutton given to supplying high-class
and
Investment Securities.
Miscellaneous Securities
in all Markets.
PRIVATE WIEE8 TO PBINCIPAL CITIES
NO. 10 WALL STREET,
Cotton
and
Trade
MISCELLANEOUS SECURITIES
IN ALL MARKETS
CORNER WALL.
1 NASSAU STREET
of
Stock
Washington, D.C.
Robert H. Simpson
Effingham Lawrence
Stock
York
ExchangeDEAL IN
Speoial Partner
Stocks, Bonds and Grain
NEW YORK
of
Exchanges,
Harris,WinthropA Co.
25 Pine Street
Branch Of flees, 616 Fifth Avenue
Delmonleo’n and 306 Broadway
Member*
CO.,
BROAD STREET
30
General Partners
WOODWARD BABCOCK
HUGH BLYTHK
GKO. A. MCCLELLAN,
)
J. A. riplby,
&
BROWN
A, O.
T. *. OUNNINOhAM.
29 WALL STREET AND 3 BROAD STREET
BRANCH OFFICES
Barclay Bldg., 299 Broadway
Wilson, Watson & Herbert,
HfittauciaL
Members N. Y. Stock Exchange,
Orders Executed for Cash
or on
Margin.
INTERE8T ON BALANCES.
Hanover Bank
Howard
Bldg.,
Lapsley & Co.,
IS BROAD STREET, N. Y.
Transact
a
General
Banking and Stock
Exchange Business.
ACCOUNTS OF BANKS St BANKERS SOLICITED.
,
THE INTERNATIONAL BANK,
60
NEW YORK.
INTEREST ALLOWED ON DEP0SIT8.
Private Wires to Cincinnati and Chicago.
Hotel Empire, 63d Street and Broadway
WALL
STREET.
Capital and Surplus,
Deposits,
.
N. Y.
$600,000
1,750,000
Individual and Commercial Accounts Invited
JaS* H. Olipbant & Co.,
BANKERS AND BROKERS,
20 Broad Street,
.
.
New York.
TXLXPHONS No.865 RBCTOR
JA8. H. OLIPHANT
FLOYD W. MUNPY
ALFRED L. NORRIS
J. NORRIS OLIPIUNT
Members New York Stock Exohange.
J. S. & R. D. FARLEE,
MEMBER8 NEW YORK STOCK EXCHANGE.
Facilities Afforded lor Transacting
Foreign and Domestic Business
.
BROKERS AND DEALERS IN
.
INTEREST PAID ON TERM DEPOSITS
INVESTMENT
SECURITIES
11 WALL STREET. NEW YORK
Branch Office. 600 Fifth Ave.
Wm.Fahnestock, Memb. N.Y. Stook Hx.
T. J. Mumtohd,
r. b. Dodson.
Fahnestock & Co.,
THOS. H. HUBBARD, President.
JAMES 9. FBARON, Vico-President
JOHN HUBBARD .Vice-President.
JAMES H. ROGERS. Cashier.
CHAS. 8. LIPPINCOTT, Asst. Cashier.
BROKERS AND DEALERS IN
INVESTMENT
SECURITIES. J. Stewart
2 WALL STREET.
Transact
R. J. JACOBS
&
CO.,
41 NEW STREET.
or on
a
Margin
NEW YORK
-
General
Commission and
INVESTMENT
«J. Gr.
BONffB
LOANS
BANK AND TRUST
COMPANY STOCKS
Zachry & Co,
BANKERS, 40 Wall St., NewYerk
Goadby & Co.,
BANKERS AND BROKERS,
NO.
74
BROADWAY,
NEW YORK.
R. T. Wilson &
BANKERS
ft
COMMISSION
33 Wall
Investment Business in Curb Securities
SECURITIES
Members V. Y. Stock Exchange.
Orders Executed for Cash
Campbell & Co.
25 Broad Street
W. H.
Co.,
MERCHANTS
Street New Vorl*.
EX. NORTON &
CO.,
Exchange Place, New York.
Bx-Nobtox, Mem. NY. Stock Ex. Gao. F. Noam w
II
INVESTMENT
SECURITIES
X
THE CHRONICLE.
(Current Ssmtl
[VOL.
g inquiries
Chicago Peoria & St. Louis Prion Lien 4)4s and Consol 5s, 1930
Baltimore Chesapeake & Atlantic 5s, 1934
$50,000 (or
i
j
Tax-exempt Registered 3}4% Bold Bonds
Due November 1, 1952.
Millen & Southwestern First 5s, 1955
Southern Indiana First 4s, 1957
i
Coal &
I
Iron
part)
any
CITY OF NEW YORK
Sea board Air Line Collateral Trust 5s, 1911
Rocky Mountain Coal & Iron 5s, 1951
Grand River Coal & Coke 6s, 1919
I
LXXXIV.
Price, 89 and interest, yielding 4.03%.
This Issue
sold by the City In Novem¬
average price of 106.23 and
only a year ago the bonds were 97 bid.
ber
Railway 5s, 1920
was
1902, at
an
Chicago Southern 5% Notes
AND
ALL STEAM
RAILROAD BONDS
DF ALT
IN
(>. W. Walker \ Co.
BY
B Aft It AIRS
Telephone
3945
F.
J. LISMAN & COMPANY,
SPECIAL. I STS
IN
STEAM.
BROAD
44 <fc 4«
STREET, NEW YORK.
45 NEW STREET.
Japanese 1st «V 2d Gs
Morgan’* Louisiana A: Tex. 6* Sc 7*
Atclilhoii Codv, 5m, when limited
Union Pacific Conv, 4s
“
(»en. Electric Conv. 5s
LIBBEY & STRUTHERS
Deal in
New York
Bonds, Stocks and Investment
arbitrage
European
Securities and transact an
business with the principal
stock markets.
Indianapolis & Vincennes 7s.
International Traction 4s
!
Erie *st extended 4s.
Specialists in Uncut-rent Issues.
Telephone, 6745 Broad.
“NEWR08E.”
Hastings & Dakota 7s
25 Broad St.
Gulf &
BORDEN
&
Equitable Building,
Cable Address:
!
WANTED
Northern Pacific Prior Lien 4s
PROCTER
‘*
Slioit-Term Note*
Broad Street
A. A.. LISMAN & CO.,
Tel. 5950-1-3 Broad.
CO.,
BROADWAY, N. Y,
Mkmbkhs New York stock Exchange.
Land Title & Trust Co. Building PHILADELPHIA
169 East Jackson Boulevard, CHICAGO
404 Connecticut Mutual Building, HARTFORD
Iowa Central 5s.
Minn. & St. Louis 5s.
M. K. & T. Ext. 5s.
St. L. & S. F. 5s.
Texas & Pacific 5s.
New York
NEWBORG &
RAILROAD SECURITIES
Members >. Y. Stoek Exchange
30
35 Broad Su.
Broad
Buffalo
New York. '
Ship Island 5s
& Susq. pfd. stocks.
Commercial Cable 1st
Mtge. 4s.
Morris & Essex Gtd. Stock
Des Moines Union 5s
Belt Line Ry. of Montgomery 6s
Pere Marquette Cons. 4s
Detroit & Toledo Shore Line 4s
Helena Light & Ry. 5s
Morgan’s La. & Tex. 6s and 7s
Hartshorne, Bogert&Battelle,
Members New York Stock Exchage.
MUNICIPAL
1 4%
RAILROAD
> to
CORPORATION ) 6%
Central Pacific 3*^8
Selected
for
conservative
LISTS MAILED UPON
Lincoln &
Company
INVESTMENT BANKERS
Bonds
for
Trustees,
Private Investors,
and
investors.
APPLICATION.
Lawrence Barnum &
Co.,
BANKERS,
18 WALL ST
Executors
26 Broad
BONDS
Washington,
WANT
Adams
Express Company 4s, 1947.
Pennsylvania Convertible 3^s, 1915.
U. S. Steel Sinking Fund 5s, 1963.
Buffalo Rochester & Pitts. 5s, 1937.
OFFE R
Marq. & Bess. D’k & Nav. 4J/£s, 1933.
27 AND 29 PINE ST, NEW YORK
Philadelphia,
Pittsburgh
Park & Tilford 6s, 1936.
Atlanta Knoxville & Cinn. 4s, 1955. ’
COFFIN
yielding 4% to 5y$ %
&
BONDS”
with
Comparative
Atlantic & Danville 4s, 1948.
request.
West Shore 4s.
Mutual Fuel Gas 5s.
Milwaukee & Northern 6s.
Rhoades
Chicago & Western Indiana 4s.
N. Y. Cent., Mich .Cent. coll. 3L£s.
Galv. Har.&San Ant. Mex.& Pac. 5s.
&
Company,
Members N. Y. Stock
7 Wall
Exchange
Den. Gas <fc Elec. Co.stock and bonds.
American Light & Traction Co. stock.
Grand Rapids Gas Light Co. 1st 5s.
Den. Un. Water Co. stock and bonds.
Mont. Lt. & Water Power Co. 5s.
Detroit City Gas Co. 5s
TOBY &
St., Corner New St.,
Telephone 1135 Kector.
18 Wall St., New York
LAMARCHE,
25 Broad St., New York
Lighting
and
Traction Securities
A SPECiAwTY
NEW YORK.
BECKER & STERLING,
Tel. 985-988-987 Rector.
Cable Add. “Beckstcr”
34 Pine Street, New York.
Tel. 6100-1-2-3-4-5 Johu.
Elgin Joliet & Eastern 5s, 1941.
Tables—
useful book for Bond Buyers— sent
on
COMPANY,
BONOS
Our Copyrighted Book “MATURING
a
8teet, New York.
Telephone No. 5430-1-2 Broad
Swift Co. 5s.
Detroit Edison 5s.
Niagara Falls Power 5s.
Lake & Gunnison County 4s.
Denver Union Water 5s & stocks.
BAKER, AYLINC
&
COMPANY
Michigan State Tel. 5s & stocks.
Dtakri In Unlisted Inactive Stocks
F.
W.
MASON
an*
&
.V< Hfntw St- K«»SToN.
Investment Bonds
Land Title
Building
PHILADELPHIA
50 Congress Street
BOSTOft
CO.,
Cuban Govt. Inter. Gold 5s of 1905.
Mexican Govt. Gold 5s of 1S99.
St. Paul City Cable Cons. 5s, 1937.
Fonda John. & Glov. 4^s, 1952.
American Caramel Stock.
M.
DESCRIPTIVE CIRCULARS SENT ON APPLICATION
Bonds
WOLFF,
Cable Add. “MOWOLF” 27 William St.. N Y
Phonos: 6557-6558-6559 Broad
June 22 1907..
THE CHRONICLE i
©mrretit Bond
We
inquiries.
offer, Subject to Sale or Change in Price,
New Yrork &
Chesapeake & Ohio Ry. Co.
One Year 6%
Coupon Cold Notes Due June 28, 1908
At 100 and Int.
For delivery on June
Total
issue—:
$1,200,000
-
XI
Jersey 1st 5s.
Central Union Gas 1st 5s.
Brooklyn Queens Co. Sub. 5s.
Yielding 6%
New York Edison 1st 5s
28th, 1907
Mo. Kansas & Okla. 1st 5s.
$72,000
Annual interest
Surplus applicable to dividends June 30, 1906, $3,588,890.
to dividends on $62,799,100 capital stock.
These
Bank, New York stock.
GEORGE C WHITE Jr.,
Co.
Pfaelzer &
First Nat.
notes are a prior charge
20 BROAD
ST.,
NEW YORK
8ANKER8
2-> BROAD 8TREET
BROOKS
WANTED
R
Bankers & afrokem
Members New
5!J Wu I Street, New York
York Stock
General
Local and
Tel, 3981 Broad
(
of
our
HIGH GRADE BONDS
Investment
Northeastern Pennsylvania Investment
Securities
clients.
11*06
Manual
BANKERS
Exchange.
LEONARD F. HEPBURN
Grand Rapids (Mich.) Gas
1949.
for
conservative
TO
NET
Detroit Edison Co. debenture 6s,
investment
to
Investment Securities,
50 WILLIAM
Lackawanna &
Wyoming Valley 5s.
City of New York bonds.
NEW YORK
STREET,
Chicago & North Western Scrip
BOUGHT AND SOLD
All short-term RR. and Indust. Notes.
Bel. Irri. Can. & Wt. Pwr. Co. stock.
Omaha Water Company 5s.
New England Brick Yards Co. 5s.
H. C. SPILLER & CO
Members N. Y. Htock Exchange
111 BROADWAY
Tel. No. 8260 Reotor
Hastings & Dakota 7s, 1910.
Southern Minn. 6s, 1910.
FERRIS A WHITE,
43 Kxehnnge PL, N. Y.
Tel. 2868-9 Broad.
HIGH-GRADE BONDS
Jester &
Bleecker Street & Fulton
Ferry 4s
Dry Dock East B’way & Battery 5s
Westchester Lighting 5s
•it
HIKE
STREET,
TBLrRPBONE
Co.,
NEW
YORK.
237 JOHN
SAUNDERS & JONES
Y.
Connecticut Traction Bonds
Erie Funded 7s.
Sha’kin Sunb’y & Lew. 2nd 6s, 1925.
Texas & New Orleans, Sabien Div. 6s.
Northern Pacific Prior Lien 4s.
Cincinnati Wabash & Mich. Div. 4s.
Central of Georgia Cons. 5s.
6 WALL
Member* N. Y. Stock Exchange.
39 Pine Street, New York < ity
Tel. 4540 John
MARKETABLE
W. E. R. SMITH &
-
.
CO.,
New
York.
Inactive Railroad Issues
High-Class industrial Issues
Bank Stocks
1 rust Company Stocks
Insurance Company Stocks
Guaranteed Stocks
INQUIRIES INVITED
FREDERIC H.
HATCH,
Dealer In Unlisted Securities of Uallr* ada and other
Corporations in the United States and elsewhere
Tel. 6320 Broad.
30 Broad St. New
York
ST.,
-
-
NEW YORK
CO.,
Louisville.
MEMBERS NEW YORK STOCK EXCHANGE.
New Orleans Ry. & Light Securities
Springfield Ry. & Light Securities
International Traction of Buffalo and
other Traction Securities
Sloux'CIty Traction Co. 1st 5s.
Wilmington & Chester Collateral Trust 5s
E.I .duPont deNemours Powder Co. stocks.
Mather Humane Stock Tr. Co. 5s, due 1908
GEO. P. BISSELL,
S'cactnij Sc ©o.,
T
Rosen, Stillman & Co.,
UNLISTED
New York.
4k£s
N
ALL
S. C. HENNING &
Y
CO.,
AND
.
C. L. PARMELEE & CO.,
N
BONDS
Manitoba Cons. 43^8, 1933.
,
Chicago Indianap. & Louisv. 5s & 6s
Louisville New Albany & Chicago 6s
Westchester Lighting Co. 5s
New York & Jersey 5s
20 Broad St.
INVESTMENT
f»peclallMu In
Northeastern Pennsylvania Securities
20 Broad Street
Boston.
Tel. 1985 Rector.
FOR
SECURITIES
Specialists in Inactive Bonds,
20 Broad St.
BONDS
SCH MIDT & GALLATIN
Palatka Water Company (is.
Hudson River Electric Power Co. 5s.
American Axe <fc Tool Co. stock.
PATERSON &
11230 Re0tOr
Telephone 6150 Jo
Lack. Steel Co. stock and bonds.
Sloss Iron & Steel
ST., NEW YORK.
Mew Yorfc
WILLIAMSON,
W. A.
Tel. 4301-2 Broad
Tel. 910-1 Rector
NASSAU
5
blA%.
1911.
Exchange
3? S'ale Street
BANKERS
selected
Telephones
PHILBRICK & HALL
Stock
Pennsylvania
Bequest
on
MEGARCEL & CO.
ilO Pine Street,
Milwaukee Electric Ry. & Light 5s, 1926.
Bioad *i.. N. Y.
494%
Co. tlrst 5s, 1915.
Indianapolis & Eastern Ry. first cons. 5s, 1927.
Louisville & Southern Indiana Ry. tirst 5s, 1923
Members New York
carefully
porations
No. 20 New St., N.Y.City.
Denver Gas & Electric Co. general 5s,
Northeastern
Bickmore 6c Co.,
A. H.
BONOS of Public Service Cor
Tel 3785-3786 Rector.
of
Securities, Now Out, Mailed free
BALTIMORE,
Members of Baltimore Stock
Correspondents: Edward B. Smith & Co
Y and Pbila, Stock Exchanges
Members N
Our
BANKERS AND BROKERS,
104 South Calvert Street,
PA
-
DEALERS IN
From time to time we make special studies of
Railroad and Industrial properties for the benefit
,
-
-
Exchange
Securities
Sutton, Strother 6c Co
SCRANTON
RICHMOND, VA.
G. Whittemore & Co.
COM
BANKERS,
SCOTT & STRINGFELLOW
Southern Pac. Col. Tr. 4s, 1949
&
Wall
Street
NEW YORK
BANKERS
Investment Securities
11N South Fourth St.
VlCKtRS
29 Wall
S*.,
Philadelphia, Pa.
PHELPS.
New York
Co., At. Knox. &
Cin. Div. 4%, ekie May 1, 1955.
Louis. & Nash.RR.
[VOL. LXXXIV,
THE CHRONICLE.
Hi
financial.
fftmrocial.
Harris Trust
O’CONNOR & KAHLER
Savings Bank
&
(Organized as N. W. Harris & Co. 1882.
BANKERS
Incorporated 1907.)
49 Wall
Capital and Surplus, $1,500,000
New York.
Street,
Municipal
Bonds
for
Invest¬
ment, Legal for Savings Banks
Special facilities for Reserves, Accounts of Banks, Individuals. Firms
Corporations. Complete equipment for handling Affairs of Trust
and Trust Funds in this
and
Bonds
for
YIELDING
State,
THAN
BETTER
Investment
4%
Correspondence Invited
Full
i
MARQUETTE BUILDING,
Information
on
Request.
CHICAGO
Beaver National
Bank,
Beaver and Pearl Streets
Netv York City
IUinoisTrust & Smint> s Bank
QLORQE M. COFFIN. President
Vice-Presidents
CHICAGO
T. P. WELSH
JOHN B. JONES
J. V. LOUGH LIN. Cashier
Capital and Sumlus,
-
$11,800,000.
-
-
and
Time Deposits, Current and Reserve Accounts.
Deals in Investment Securities and Foreign Exchange.
Pays Interest
on
Transacts
a
General
CORRESPONDENCE
Merchants, individuals
Banks isoiieiieu
JAMES TALCGTT
Banker and Commission Merchant
Business.
Trust
of
Accounts
Manufacturers* and o’her Accounts
Solicited and Financed
SALES CASHED
Equitable Interest Allowed on Deposits
INVITED.
Franklin
1 OS-110
St.. NEW YORK
Kansas Bonds
Dickinson, Wilmot & Sterrett
Public
Certified
Bought
We
buy Kansas Township, City and
County high-grade bonds. Submit offers
Accountants, (III.)
to
KELLY & KELLY,
Topeka, Kansas
(Formerly Jones, Caesar A Co.)
R. M. GRANT & CO.
NEW YORK
54 WILLIAM STREET
Tribune
ST. LOUIS
Stock Exchange Bldg.
PHILADELPHIA
925 Chestnut Street
CHICAGO
Bldg.
307
PITTSBURGH
Epler Block
LONDON 3 Fredericks
We
People’s Bldg.
will
8T., NEW YORK
Purchase
Gas
MELBOURNE
MEXICO, D. F.
Apartado, 1403
SEATTLE
SAN FRANCISCO
Monadnock Bldg.
31 NASSAU
or
Finance
Properties
9 Queen Saceet
NOSTRAND.
C. B. VAN
Place, E. C.
30 WALL HTREKT,
Investment Securities
READY
JULY
15.
1907
I860
HAND-BOOK OF SECURITIES
The United States Life
(Issued 8eml-Annually—January and July—by the Pnbllshers of the
Insurance Co.
v
Commercial and Financial Chronicle.)
IN THE CITY OF NEW Y0BK
JULY
Issue* Gauranteed Contracts
EDITION.
CONTENTS:
RAILROADS AND LEADING INDUSTRIAL COMPANIES-Statement
Stocks aDd Bonds and also the Income for
a
series of years
Haance Committee
j
HIGHEST AND LOWEST PRICES-Montlilyfor year 1906
OF ACTIVE STOCKS—With date of
MUNN, M.D., President.
past, as well as the annua
charges against income.
YEARLY RANGE
JOHN P.
showing outstanding
andtoJaly 1, 1907,
highest and lowest prices made in
the years 1904,1905,1906, and to July 1, 1907.
Leather
JAMES R. PLUM
(JLARENCE H. KELSEY. Pree. TKle Qumr. A Tr. Oe.
WM
H.
PORTER... Pree. Chemical
National
Bank
DIVIDENDS ON RAILROAD STOCKS AND LEADING INDUSTRIAL STOCKS paid during
eaoh of the years
Good men, whether
1901 and to July 1, 1907, inclusive.
PRICK OF SINGLE
COPIES,
TO SUBSCRIBERS OF THE
To Bankers and Brokers in
-
experienced In life Insurance
not. may make direct contracts with this Com¬
pany, for a limited territory If desired,and secure
for themselves. In addition to first year’s commis¬
sion, a renewal Interest Insuring an Income for the
future.
Address the Company at Its Home Office,
No. 277 Broadway New York City.
or
$1 00
75
CHRONICLE,
quantities, with their cards lettered in gilt on 5 i
special rates.
la Xensc
cover, at
TO
WILLIAM B. DANA
COMPANY, Publishers,
PINE STREET, CORNER PEARL STREET. NEW
Copies
may
be
London
from
YORK
P. BARTLETT, 513 Monadnock Building, or
EDWARDS & SMITH, 1 Drapers’ Gardens.
had In Chicago from
The
LEASE
large and commodious offices on the
First Floor of 66 Wall Street
extending through to Pine Street, with vault and
Basement
on
Pine Street
Apply to WM. O. PLATT. 56 Wall St.. R 40.
June 22
financial.
J1 ini tie tuts.
&
CHICAGO
CINCINNATI
CLEVELAND
xm
THE CHRONICLE
1907.]
ST. LOUIS RY. CO.
I Grand Central Station, N. Y., June 20, 1907.
The
PH
Board of Directors of this Company have
declared a dividend of ONE AND ONE-QUAR¬
TER PER CENT on Its Preferred Capital Stock,
payable at the office of Messrs. J. P. Morgan &
Co., New York, July 20th, 1907, to stockholders
PLAN FOR THE
h
ACQUISITION OF
Capital Stock
of the Common
ares
28th,
of record at 3 o’clock p. m. on Friday, June
1907.
CHARLES F. COX, Treasurer.
AND
of Reading Company.
Philadelphia, June 21, 1907.
The Board of Directors have declared from the
net earnings a dividend of TWO PER CENT (2 %)
on the Common
Stock of the Company, to be
Office
Mortgage Five Per Cent
First
Bonds
OF THE
stockholders of
on August 1st, 1907, to the
record at the close of business July 15th, 1907
Checks will be mailed to stockholders who have
filed dividend orders with the Treasurer.
W. R. TAYLOR, Secretary.
paid
FULTON TRUST COMPANY OF NEW YORK.
30th Consecutive Semi-Annual Dividend.
30 Nassau St., New York, June 20, 1907.
The Board of Trustees has this day declared
a Semi-Annual Dividend of Five
Per Cent on
the capital stock, payable July 1st, 1907, to
stockholders of record at the close of business
June 24th, 1907.
Transfer books close June 24th, 1907 at 3
o’clock P. M. and reopen July 1st, 1907 at 10
o’clock A. M.
HENRY W. REIGHLEY, Secretary.
YORKVILLE BANK
New York, June 20, 1907.
The Board of Directors has declared a SemiAnnual Dividend of EIGHT PER CENT, on the
Capital Stock, payable on July 1st to sharehold¬
ers of record.
Transfer books will close on June
RR. Company
Havana Central
On behalf of Messrs.
J. HENRY SCHRODER &
CO., London, the under¬
the proposal, dated April 30, 1907, has become
operative with respect to both classes of deposited securities, inasmuch as there
have been deposited So,336,375 of such Common Stock and $5,357,000 face value
of the said Bonds.
The Directors of the United Railways of the Havannah and
Regia Ware ouses, Limited, have been requested to call a meeting of the Com¬
pany’s shareho ders to be held on or before the 20TH JULY NEXT to consider,
an
if approved, to ratify the proposal.
SPEYER & CO.
signed hereby give notice that
21st.
WM.
FRANKENBACH, Cashier.
L.
FRANKLIN TRUST COMPANY.
Dividend No. 68.
quarterly
dividend of 3
% upon the capital
stock of this Company, payable .June 29th, 1907,
to stockholders of record at close of business
June 28th, 1907.
CLINTON W. LUDLUM, Secretary.
GIRARD TRUST COMPANY.
DIVIDEND.
At a meeting of the Board of Managers held
this day a dividend of Twelve (12) per cent was
declared, payable on July 1st, 1907, to stock¬
holders *of record on the books of the Company
at the close of business June 15th, 1907.
Checks for dividends will be mailed.
141 ST SEMI-ANNUAL
C. J. RHOADS, Treasurer.
Philadelphia, Pa., June 13th, 1907.
BOWLING GREEN TRUST COMPANY
26 Broadway, June 19, 1907.'"
A quarterly dividend of FIVE PER CENT
(5%) upon the capital stock of this Company
has this day been declared payable July 1st,
1907, to stockholders of record on the closing
of the transfer book at 12 o’clock noon on June
22d, 1907.
Books will re-open July 2, 1907
at 10 o’clock a. m.
WfLLIAM M. LAWS, Secretary.
THE NEW
YORK TRUST COMPANY.
26
Broad Street.
declared this day
of ETGHT PER
CENT (8%) payable June 29th. 1907. to stock¬
holders of record at the close of business June
The transfer books will close
24th,
1907.
June 24th and reopen July 1st, 1907.
The Board of Trustees has
the usual quarterly dividend
New York,
THE
F. J. HORNE, Secretary.
June 19th, 1907.
of the
DIVIDEND.
The Directors of this Bank have
KLEIN, Cashier.
AMERICA.
New York. June 18th, 1907.
The Board of Directors have to-day declared
a semi annual dividend of thirteen (13) per cent.,
free of tax, payable July 1st, 1907, to stock,
holders of record of this date.
The
transfer
July 2nd, 1907.
books will remain
regular quar¬
THREE-QUAR¬
the Preferred
Capital Stock of the American Woolen Company
of record June 25, 1907, will be paid on the 15th
1907.
Transfer books for
closed at the close of
A quarterly dividend of two per cent on the
capital stock of this Company has been declared,
payable July 15, 1907, at the office of the Treas¬
urer, 131 State Street, Boston, Mass., to stock¬
holders of record at the close of business June 26*
1907.
CHARLES A. HUBBARD, Treasurer.
of July,
Preferred Stock will be
business June 25, 1907,
re-opened July 16, 1907.
and will be
WM.
H.
Boston, Mass.,
AMERICAN
DWELLY Jr., Treasurer.
June 20, 1907.
COMPANY.
St. Louis, Mo.
June 3. 1907.
CAPITAL STOCK DIVIDEND
NO. 33.
CAR
PREFERRED
& FOUNDRY
At a meeting of the
this day, It wTas resolved
that a dividend of 1 M %
on the Preferred Capital stock of the Company
be declared and paid on Monday. July 1. 1907,
at the office of the Guaranty Trust Company of
New York, No. 28 Nassau Street, New York
City, to stockholders .of record at the close of
business on Thursday, June 6th, 1907.
Transfer
books will close Thursday, June 6. 1907, and
re-open on Tuesday, July 2. 1907.
A.
Secretary.
S.
BIXBY,
DELANO. Treasurer.
CAR New
& FOUNDRY
COMPANY
York, June 3rd. 1907.
OMMON
CAPITAL STOCK
DIVIDEND
NO. 19.
At a meeting of the Board of Directors held
his day. It was resolved that a quarterly dividend
f 1 % on the Common Capital Stock of the Comnny be declared and paid on Monday, July 1,
907
at the office of the Guaranty Trust Com
any of New York, No. 28 Nassau Street, New
rork City, to stockholders of record at the close
f business on Thursday, June 6, 1907. Transfer
ooks will close Thursday. June 6, 1907, and
open on Tuesday, July 2- 1907.
D. A. BIXBY, Secretary.
closed until
THE SECURITIES COMPANY.
No. 24 Broad Street,
New York City, June 13th, 1907.
The Board of Directors of THE SECURITIES
COMPANY has this day declared a semi-annual
dividend of two and one-half per cent on the
capital stock of the company, payable July 15th,
1007, to the stockholders of record June 29th,
1907.
Books for the transfer of stock will be
closed June 29th, 1907, and re-opened on July
16th,
Board of Directors held
kM ERIC AN
this date declared a semi annual diivdend of FIVE
PER CENT., ami an extra dividend of ONE PER
CENT., free of tax payable on and after July 2,
1907.
The transfer books will close June 20 at
3 P. M. and reopen July 2. 1907.
THE BANK OF
glyen that the
Notice Is hereby
terly dividend of ONE AND
TERS PER CENT (1H %) on
COMPANY
DIVIDEND NO. 32
Thirty-Third Quarterly Dividend.
S.
City of New York.
New York, June 13, 1907
EMIL
UNITED FRUIT
AMERICAN WOOLEN CO.
D.
MERCANTILE NATIONAL BANK
giuideuds
■atuidentls
New York City, June 5th, 1907.
The Board of Trustees has this day declared a
1907.
EDWIN G. WOOD LING,
Ilotices.
TO
HOLDERS OF FIRST MORTGAGE
PER CENT BONDS OF
FIVE
Randoiph-Macon Coal Go.
been requested by the
the above bonds to be¬
come a committee to protect the Interests of the
bondholders under an agreement for that purpose,
and have consented to do so.
Holders of bonds
who wish to become parties to the agreement are
bonds
requested to deposit their
on or before
June 27. 1907, with Central Trust Company of
New York, No. 54 Wall Street, New York, as
Depositary.
Holders of more than $1,390,000
of bonds have already deposited them.
Copies of
The undersigned have
holders of a majority of
a
circular and of the Bondholders’ Agreement
be obtained from the Depositary. .
Dated June 19. 1907.
mav.
FREDERICK II. ECKER, Chairman, New
New
WM. A. READ,
WILLARD E. EDMISTER,
GEORGE S. COE,
FRANCIS R. COOLEY,
Office of
Asst. Secretary.
York
York
New York
New York
Hartford,
Conn.
Committee.
REFINING CO.
71 Broadway, N. Y. City. June 5, 1907.
QUARTERLY PFD. STOCK DIVIDEND NO.32
To the Holders of the Preferred Stock of
MERGENTHALER LINOTYPE CO.
The Directors of the American Smelting &
New York, June 11. 1907.
Relining Company have this day declared a Divi¬
At a meeting of the Board of Directors held
THE DECATUR LtND COMPANY:
dend of ONE AND THREE QUARTERS <1»<)
this day a regular quarterly dividend of TWO
PER
on
Preferred
Capital
of
CENT,
the
Stock
In accordance with the provisions of Its charter,
AND ONE-HALF PER CENT was declared.
the Company, payable July 1, 1907, to stock¬
the Board of Directors of the Decatur Laud Com¬
Eayable
olders of
on record
Saturday,
29, 1907,
June
and afteron June
to the
15, stock1907, holders of record at three o’clock P M., June 14. pany has determined to devote such sum as may
The books of the Company for the trans¬ be available for the purpose to the purchase by
1007.
at one o’clock, p. m.
fer of the Preferred Stock will be closed at three
the Company of Its preferred stock at the lowest
The transfer books will close on .Saturday, June
o’clock P- M., June 14. 1907. and will be reopened price offered, as provided In the by-laws; such
15, 1907, at one o’clock p. m., and reopen on
stock to be retired and canceled
July 2, 1907
W. E. MERRISS, Secretary.
Monday, .July 1, 1907, at 10 o’clock a. m.
Holders of the Company’s preferred stock are
FRED’K J. WARBURTON, Treasurer.
requested to submit tenders to Harry L. Falk,
ALBEMARLE
&
CHESAPEAKE
CANAL
CO.
Office of
President, The Decatur Land Company, 50 Bea¬
Norfolk Va., June 19th, 1907.
ver Street, New York City.
Forms will be fur¬
THE UNITED GAS IMPROVEMENT COMPANY.
Coupon No. 55 from the First Mortgage Bonds
nished on application to the Secretary, L. P,
N. W. Corner Broad and Arch Streets.
of this Company, properly stamped show ng re¬
The
W. M. PEN NET,
Cashier.
Philadelphia, Pa., June 12. 1907.
declared a quar¬
Directors have tills day
terly dividend of two per cent (one dollar per
share), payable July 15, 1907, to stockholders of
record at the close of business June 29, 1907.
Checks will be mailed.
LEWIS LILLIE, Treasurer.
THE ADAMS EXPRESS COMPANY.
Treasurer’s Office.
New* York, June 17, 1907.
The transfer books of this Company will
closed from 3 o’clock P.M., June 27th 1907, to
be
the
morning of July loth, 1907.
BAS1L W. ROWE, Treasurer.
For
other
dividends
see
page
xiv.
AMERICAN
SMELTING
duction of Interest, maturing JanuaryClst
will be paid on presentation at the
Companv, No.
folk, Va.
424
1907,
Office of the
Citizens Bank 13 lading, Nor¬
D. S.
BURWELL,
Treasurer.
AMERICAN TELEPHONE & TELEGRAPH CO.
A dividend of TWO DOLLARS ($2) per share
will be paid on Monday, July 15, 1907, to stock¬
holders of record at the close of business on
Saturday. June 15, 1907.
The transfer books will be closed from June 17
to June 29, 1907
both days Included.
WM.
R.
Troup, New
DRIVER. Treasurer.
Decatur, Alabama.
opened at the same
1907.
Tenders will all be
viz. at 3 p. m., July 5
56 Beaver
time,
Respectfully yours,
HARRY L. FALK, President.
Street, New York City, May 31, 1907
Missouri River & Northwest.
Ry. Co.
holders of First Mortgage bonds of this
Company are requested to communicate
committee that has been formed for their pro¬
tection; Address. D. P. Ayars, .Secretary of
Committee, Wilkes:Barre, Pa.
All
with the
the
xiy
THE CHRONICLE
[VOL.
financial.
COUPONS
MATURING
SitrLctetids.
JULY.
THE
1907
Payable at the
BANKING HOUSE
of
N.
W.
HARRIS & CO.
58 William Street.
NEW YORK
FIRST.
FIRST
Albert Lea, Minn.,
Refunding.
Albuquerque, N. Mex., Board of Ed’n.
Albuquerque, N. Mex., Funding.
Albuquerque, N. Mex., Gen. Street Imp.
Beaverhead County, Mont., Refunding.
Berryville, Va., Water Works.
Billings, Mont., City Hall.
Boulder, Colo., Water Works.
Bozeman, Mont., Funding, 2d Series.
Broadwater County, Mont., Funding.
Buffalo & Susquehanna Railway Co.,
Gold Equipment, Series “A.”
Cascade County, Mont., Court House.
Cascade County, Mont., Funding.
Centerville, la., Funding.
Centerville, la., Refunding.
Clallam County,Wash., Sch. Dist. No.7.
Clifton Forge, Va., Bridge.
Clinton, la., Funding and Refunding.
Cook County, Ill.,
School Dist. No. 25 (Arlington H’ts).
School Dist. No. 99 (Morton Park).
School Dist. No. 170 (Chicago H’ts).
Cuthbert, Ga., Electric Light.
Cuthbert, Ga., Water Works.
Danville Street Ry. & Light Co., Dan¬
ville, Ill., Refunding Mortgage Gold.
Day County, So. Dak., Refunding.
Denison & Sherman, Tex., Railway Co.,
First Mortgags Gold.
Dexter, Mo., School Dist., School Bldg.
Elmwood, Ill., Refunding.
Evergreen Park, Ill., Refunding.
Fayette County, Ky., Funding.
Ford County, Ill., School Dist. No. 58,
School (Melvin).
Gallatin County, Mont., Funding.
Gallatin County, Mont., High Sch. Bldg.
Gallatin County, Mont., Refunding.
Georgetown, Ill., School Dist. No. 177.
Great Falls, Mont., Sewer.
Great Falls, Mont., Water Works.
Green Bay, Wis., Refunding.
Green Bay, Wis., Sewer.
Greenville, Ill., Refunding.
Griffin, Ga.
Hale County, Ala., Refunding.
Hamblen County, Tenn., Turnpike Rd.
Hawarden, la., Independent School
Dist., School Funding.
Highwood,Ill.,Sch.Dist.No.1,Refunding
Hot Springs, So. Dak., School.
Howard, So. Dak., Board of Education
Independent Sch. Dist., Sch. Bldg.
Huntington, W. Va., Second Sewerage.
Hyattsville, Md., Sewerage.
Iowa Falls, la., Refunding.
Jefferson County, Wash.
Keokuk, la., Refunding.
La Salle, Ill., School Building.
Lincoln, Ill., Refunding.
Livingston, Mont., Main Sewer.
Lyons City, Clinton, la., Independent
School Dist., School House.
Macon County, Ill., Court House.
Madison, So. Dak., Board of Education.
Manson, la., Water Works.
Marshalltown, la., Refunding.
Martinsville, Ind., Water Works.
Monmouth, Ill., Water Works.
Mount Airy, N. C., Water Works &
Electric Light.
Muncie Gas Light & Fuel Co., Muncie,
Ind., First Mortgage.
Muskegon, Mich., General Street Imp’t.
Muskegon, Mich., Refunding.
New Orleans Edison Electric Co., New
Orleans, La., First Mortgage Gold.
Ottawa Gas Light & Coke Co., Ottawa,
Ill., Fiist Mortgage Gold.
School Building.
Owosso, Mich., Water Works.
Park County, Mont., Refunding.
Pecatonica, Ill., School Building.
Plum Bayou, Ark., Levee Dist.
Pontiac Township, Ill., High School
Dist., School Building.
Port Huron Light & Power Co., Port
Huron, Mich., First Mortgage.
Portland General Electric Co., Portland,
Ore., First Mortgage Gold.
Powell County, Mont., Funding.
Pullman, Wash., Water Works.
Ravalli County, Mont., Gold Funding.
Redwood Falls, Minn., Refunding.
Richmond, Ky., School.
Riverside, Ill., School Building.
Riverside, Ill., Water Works.
Rosebud County, Mont., Bridge.
Schiller Comp’y, Chicago, Ill., GoldMort.
Seattle, Wash., Funding (1891).
Seattle, Wash., Fund., 1st Series (1893).
Seattle, Wash., Fund., 2d Series (1893).
Seattle, Wash, Sewer.
Seattle, Wash., Sewer Tunnel.
Sedalia, Mo., School Dist., Sch. Bldg.
Seneca Falls, N. Y., Refunding.
Shelby County, Ill., School Dist. No. 1,
School Building.
Shenandoah, la., Independent School
Dist., Funding.
Snohomish Co.,Wash., School Dist.No.1
Spalding County, Ga., Public Imp’t.
Sparta, Ga., School Building.
Spartanburg, S. Car., Funding.
Spartanburg County, S. Car., County
Refunding.
Tacoma Eastern Railroad (Wash.), First
Mortgage Gold.
Temple, Tex., Public Free School Build¬
ing, Series No. 4.
Teton County, Mont., Funding Gold.
Tullahoma, Tenn., Electric Light.
Tullahoma, Tenn., Water & Light.
Tullahoma, Tenn., Water Works.
Utica Electric Light & Power Co., Utica,
N. Y., First Mortgage Gold.
Waitsburg, Wash., Water Works.
Westport, Mo., Water Works.
Woodlawn, Ala., Refunding.
Yellowstone
County, Mont., School
Dist. No. 2, School Bldg. (Billings).
-
SECOND.
Armour, S. Dak., Independent School
Dist., School Building.
Garrard County, Ky., Turnpike Road.
Hamburg, la., Independent School
Dist., School Funding..
Hot Springs, So. Dak., City Hall.
Kalispell’ Mont., Refunding.
Lewistown, Mont., Water.
Poplar Bluff, Mo., School Dist., School
Building.
FIFTEENTH.
Eugene, Ore., Sewer.
Hartford, Wis., Water Works.
r
Mount Pleasant, Mich.* Water Works,
Refunding.
Sauk Center, Minn., School Dist.
Sedalia, Mo., School Dist., Funding.
EIGHTEENTH.
Pierce
or
County, Wash., School Dist. No.
(Steilacoom).
NINETEENTH.
Windom, Minn., Electric Light, Water
Works and Sewerage.
THIRTY-FIRST.
Shelbyville, Ill., Elec. Light and Imp’t.
Above coupons also
N. W.
ATCHISON, TOPEKA & SANTA FE
RAILWAY COMPANY.
New Y7ork, June 12, 1907.
The Board of Directors has declared a semi¬
annual dividend (being dividend No
IS) on the
PREFERRED Stock of this Company of TWO
DOLLARS AND FIFTY CENTS (52 50) per
share, payable August 1, 1907, out of surplus net
income, to holders of PREFERRED Stock as
registered at the close of the transfer books on
July 5, 1907.
The transfer books lor the PRE¬
FERRED Stock will be closed at three o’clock
P. M. on July 5, 1907, and will be reopened at
ten o’clock A. M. on August 2, 1907.
Dividend cheques will be MAILED to holders of
PREFERRED Stock who lile suitable orders
therefor at this office.
H. W. GARDINER, Assistant Treasurer,
5 Nassau Street, New York City.
Office of
THE ATLANTIC &
DANVILLERAILWAY CO.
Norfolk, Va., June 20: 1907.
Coupon No. 14 of the First Mortgage. 4 % Gold
Bonds of The Atlantic & Danville Railway Com¬
pany, due July 1st, 1907, will be paid on and after
that date at the office of The Mercantile Trust
Company, New \7ork City.
Coupon No. 6 of the Second Mortgage 4 % Gold
Bonds of The Atlantic & Danville Railway Com¬
pany due July 1st, 1907, will be paid on and after
that date at the office of The Trust Company of
America, New York City.
ADAM TREDWELL, Treasurer.
'**•#**
YORK CENTRAL & HUDSON
RAILROAD COMPANY.
NEW
Office of the Treasurer, N. Y
Chicago Corresoondent
HARRIS TRUST & SAVINGS
BANK
RIVER
June 8, 1907.
pany will be paid by the New York Central &
Hudson River Railroad Company, lessee (under
the provisions of the contract between the two
companies) at this office on the 1st day of July
to stockholders of record at the close of
business on the 15th Inst.
next
HE KANSASCITY SOUTHERN RAILWAY C0.1
25 Broad St., New York, April 3, 1907.
The Board of Directors this day declared a
Ividend of 4 % on the Preferred Stock of the
ompany
from the net earnings for the year end-
June 30, 1907, payable on July 1, 1907, to
:ockholders of record at 3 o’clock p. m. June 10
ig
907.
The Stock Transfer books of the Company will
e closed at 3 o’clock p. in. June 10, 19<>7, anti
ill be reopened at 10 o’clock a. m. July 2. 1907.
Checks for the dividend will be mailed to
Loekholders.
THE DENVER &IR10 GRANDE RAILROAD CO.
195 Broadway, New York City, June 6th. 1907.
The Board of Directors has this day declared
a
semi-annual dividend of TWO AND ONEHALF PER CENT on the Preferred Stock or this
Company, payable July 15th, 1907, to stock¬
holders of record on June 26th, 1907.
The transfer books of the Preferred Stock will
close at 3 o’clock p. m. on June 26th, 1907. and
will reopen on the morning of July 16th, 1907.
STEPH E NHL ITT L
E .^Secretary.
YORK CENTRAL & HUDSON RIVER
RAILROAD COMPANY.
of Treasurer, New York, June 12, 1907.
nEW
)ffiee
The Board of Directors of this Company, at a
fleeting held this day, declared a dividend of
AND ONE-HALF PER CENT on its
)NE
apltal stock, payable at this office on
the 15th
lay of July next, to stockholders of record
lie close of business on Friday, Che 28th Inst.
EDWARD L. ROSS1TER. Treasurer.
at
:
M ICH 1G A N| CE NTR A L RAILROAD CO.
Grand Central|StatIon, N. \ .. June 12, 1907. 1
The Board of*Dlreetofs of this Company have
this day declared a (.dividend of THREE PER
Cc NT bn its CapitaLStock, payable at this office
July 29th, 1907, to stockholders of record at 3
o’clock P. M., on Friday, June 2«Sth, 1907.
CHARLES F.fcCOX, Treasurer.
,
CANADA SOUTHERN RAILWAY
CO._
Grand Central .Station, N.fcY
June 12, 1907.
A semi annual dividend of ONE AND ONE..
CENT on the Capital Stock
Company will be payable at this office
August 1st. 1907, to stockholders of record at 3
o’clock P. M. on Friday. June 28th, 1907.
QUARTER PER
of this
CHARLES F. COX. Treasurer.
LAKE
SHORE
&
MICHIGAN
RY. CO.
SOUTHERN
Grand Central Station, N. Y., June 12, 1907.
The Board of Directors of this Company have
this day declared a dividend of SIX P.R CENT
on
Its Common Capital Stock, payable at this
office July 29th. 1907, to stockholders of record
at 3 o’clock p. m. on Friday, June 28th. 1907.
CHARLES F. COX, Treasurer.
LAKE ERIE &
WESTERN RR. CO.
Grand Central Station. N. Y., June 12, 1907.
The Board of Directors of this Company have
this day declared a dividend of ONE PeR CENT,
on
its Preferred Capital Stock, pyable at this
office July 15th, 1907. to stockholders of record
at 3 o’clock p. m. on Friday, June 28th, 1907.
CHARLES F. COX, Treasurer.
Office of the
St. Joseph
Railway, Light, Heat & Power Co.
St. Joseph, Mo., June 15, 1907.
The Board of Directors has declared the regular
quarterly dividend of 1 J4 % on the Preferred
stock, payable July 1st to stockholders of record
at the close of business June 19th, 1907.
G. L. ESTABROOK
Secretary.
TOLEDO ST. LOUIS & WESTERN RAILROAD
Coupons due July 1st,
BOSTON
..
A dividend of FIVE PER CENT on the Capital
Stock of the New Y'ork & Harlem Railroad Com¬
COMPANY.
19'>7,
payable
HARRIS & CO,
at the office of our
{Continued).
Owosso, Mich., Union School Dist.,
1
LXXXIV
from
the Prior
Lien 3-1 % Bonds of tills Company, will be paid
on and after that date, upon presentation at the
office of Central Trust Company, 54 Wall Street,
New York City.
JAS. STEUART MACKIE, Treasurer.
For
other
dividends
see
page
xiii
June 22
it
THE CHRONICLE
1907J
ffiiumci&l,
Money”
“How to Invest
securities
The ability to discriminate between conservative
and doubtful, speculative ventures is the key
to the problem of investment
The Guaranty Trust Company of New York has prepared a booklet giving a
comprehensive view of the various classes of investments, pointing out by com¬
parison the advantages and disadvantages of each class.
It provides information that should enable the individual investor to decide
for himself as to what is best adapted to his needs.
Railroad Bonds, Real Estate Mortgages, Street Railroad Bonds and other
investments are treated in a concise way under separate headings.
A Valuable Guide to
All Investors
Send for Booklet
“F.”
Guaranty Trust C ompany
OF NEW YORK
2S Nassau
ESTABLISHED 1804
$2,000,000
5,500,000
44,517,109
Capital
Surplus
Deposits
CHARTERED IN 1830.
WANTED.
Incorporated Steam Railroad Company
composed of Practical Railroad Men who are now
actually building a line of Railroad that will open
up thousands of acres of Coking Coal. Iron Ore
An
and Virgin Timbered Lands in Kentucky and
Tennessee, desire to correspond
with reliable
Bankers. Bond Houses. Brokers and Individuals
who can place their Bonds by furnishing money
on same as the work of con struction progresses.
Control of the Stock to go with the Bonds.
Address “Company,” care Commercial and Finan¬
cial Chronicle, P. O. Box 958, N. Y.
NEW YORK LIFE INS. &
building Coal carrying line
TRUST CO.
YORK
Grants Annuities.
Accepts Trusts created by will or otherwise. Manages
Property as Agent for the owners. Allows interest on deposites payable
52 WALK
STREET, NEW
notice.
day’s
ten
after
Trustees
WANTED.
now
St., E. C., London
33 Lombard
matitetf.
Party
Street, New York
Legal Depository for
and Money in Suit.
Executors,
of Steam
desires to associate a
Capital with him to ACCEPTS ONLY PRIVATE TRUSTS AND DECLINES
business. Excellent
OR OTHER PUBLIC TRUSTS.
opportunity with large profits to right party.
Address “Railroad,” care Commercial and Finan¬
cial Chronicle, P. (). Box 958, N. Y.
Statement at the Close of Business on June 4 1907.
A successful Municipal and Corporation Bond
LIABILITIES.
ASSETS
Department Manager, having had full charge
Capital Stock paid in, in cash
of buying and selling, desires position as Man- Bonds and Mortgages
$3,379,346 74. Surplus (market value $4,221,335 47)$1,000,000J00
Amount of stock and bond invest¬
ager with reputable firm or financial institution.
book value
3,329,575 35
ments (market value
$10.816,»
Ample references furnished and guarantee if
DEPOSITES IN TRUST
33.826.273 10
required.
Address A. B. M., care “Chronicle,”
166), book value
10.162.545 08 Reserved
for taxes
50,647 00
P. O. Box 958. New York.
Amount loaned on collaterals.
5.705.664 82 j Life Insurance
381.375 72
Railroad in Central States
gentleman having some
handle Financial end of
ALL CORPORATION
—-
including bills pur¬
2.306.808 79
-.14.504,820 36 Annuities
Accrued Interest, &c
625,258 19
500)
1,459.360 80
Cash on deposit in banks and other
institutions
2,168,306 08 :
C. R. S., care ‘ Chronicle,”
Specie and U. S. Legal Tender
1.800.000 00
P. O. Box 958, New York.
Securities in lawful money reserve. 1,983.900 00 j
Suspense Account, &c
355.994 27 :
$41,519,938 15
A thoroughly trained and experienced statis¬
$41,519,938
15 1
tician
desires engagement.
Long experience
with State Commission; financial and commercial
statistics; and as public accountant.
Familiar
Average reserve for the last thirty days was 17.76%
Ad¬
with investment accounting and banking.
dress
STATISTICIAN, care Chronicle, P. O.
Average cash reserve jor the last thirty days was 12.82%
WANTED—An experienced Bond Salesman
by an old bond house.
One acquainted In New
Desir¬
York State or New England preferred.
able and permanent position to right man.
Address, giving full particulars,
Bex 958,
Other loans,
chased
-
Real Estate (market
value $1,697,-
N. Y.
HENRY PARISH,
A
WALTER KERR, 1st
Securities
Cuban
HENRY
Members N.
5th Are. and 4^d
Telephone 1553 Bryant
Building,
Fish,
Edmund L. Baylies
George S.
BRANUI OFFICE
Bristol
Charles G. Thompson,
Stuyvesant
ephone 1348 Broad
St.
Ass’t Secretary
TRUSTEES.
Henry Parish,
Frederic W. Stevens
43 Exchange Place
Te
Vice-President.
IRVING L. ROE,
Y. Stock Exchange
GEORGE M. CORNING Secretary.
ZEGER W van ZELM, Ass’t Secretary
Vice-President.
PARISH JR., 2d
SPECIA LTY
FRANCKE THOMPSON & ROBB
President.
Bowdoin,
Henry C. Hulbert,
Henry A. C.
Taylor,
C. O' D.
H
Augustus
Iselin,
W. Emlen
Roosevelt,
Van Rensselaer
Kennedy
John Jacob Astor
Joseph H. Choate,
Samuel Thorne.
John L.
Cadwalader,
F. Augustus
Schermerhorn
D. Juilliard,
Henry Lewis
George G. De
Cornelius
Morris,
Witt.
Vanderbilt
Nash
John McL.
John Claflin
Cleveland H. Dodge,
Thomas
Denny
XVI
I'HE CHRONICLE.
[VOL. LXXXIV,
ffHumclaL
MACDONALD, MCCOY
&
CO.
(INCORPORATE!,)
CAPITAL
ONE
MILLION
DOLLARS
181 La Salle Street
Chicago
June
21,
1907.
INVESTMENT
T"
■
During the period of high
money rates and at the time when
trust notes were on the market yield¬
railroad collateral
ing around 6%, we made an advantageous purchase
so
many
$500,000 IDAHO-OREGON
& POWER
COMPANY
DIDST AND REFUNDING 6 ^BONDS
v
which
LIGHT
of
payable serially,
and interest, yielding
6$.
are
These
bonds
and on which
we
make
a
price of par
secured
are
by a first mortgage on water power
property on the Snake River capable of developing more than
18,000 minimum electrical horse-power, and which has a minimum
flow as great as the present maximum flow of the
Chicago Drainage
Canal.
The
Company
now
controls
and
operates by purchase of
companies in Boise, Idaho, and thereby
controls all the
electric-lighting and power business in Boise.
This stock is deposited with the trustee as collateral
security
stock
to
all
these
the
electric
bonds.
.
The
net
earnings for the past year were over
times the
interest charge on the bonds then
outstanding and over 1|- times
the interest charge on the bonds now
When the prop¬
outstanding.
erties are extended by the use of the
proceeds of part of this
issue of $500,000 bonds', the net
earnings should exceed $130,000
per
annum,
debtedness
or
over
twice
the
interest
charge
on
the bonded in¬
.
4t>
We
had.
Chicago,
the
property examined by the Arnold Company, Engineers,
and their report is exceedingly favorable.
Special circular will be
sent
on
request.
MacDOFALD, McCOY & -CO.
Finanrial
Tljr
ontmcrria
INCLUDING
State and City Section (semi Annuais?
Bank and Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)
Street
Railway Section (Tby|^*,|
NO. 2191.
SATURDAY, JUNE 22 1907.
VOL. 84.
H’et'A; ending June 15.
Site (Lhxmxclt.
Clearings at1907.
1900.
Inc. or
Dec.
s
$
%
PUBLISHED WEEKLY.
Terms of
Subscription—Payable in Advance
For One Year
For Six Mont lis
0 00
Li 00
....
European Subscription (iuclmlin.tr'postafro)
European. Subscription six months (including postage).
Annual Subscription in London (including P' stage)
.
..
....
(including postage)
Six Months Subscription in London
Canadian Subscription (including postage)
Providence
$10 00
...
....
7 50
£‘J 14 s.
Jt*l 11s.
Terms of
State and City (semi-annually)
Street Railway (li times yearly)
(1 4 agate lines)
e
s.a.nm,*Busiuesscani8
*
K
Twelve Months (52 times)
Bartlett,513 Monadnock Block; Tel. Harrison
LONDON OFFICE—Edwards «fe Smith, 1 Drapers’ Gardens, E. C.
CHICAGO OFFICE—r.
W1LLIAXI
( OMPANl,
M. DAM
Pine Street,
Fall River.
New Bedford.
Lowell
j
Holyoke
f
1
Eng.J
|
.;
Indianapolis
Kalamazoo
.....
Springtleld, Ill_ j
Fort Wayne
j
_
j
Akron
Lexington
.
Canton
Rockford
.
■
Bloomington
Quincy
j
|
1900.
1907.
....-! SI,212,970,994
New York
Boston
i
117,005,308
118,531,067
24,128,058
J
208,199,010
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
Jacksonville, Ill.
Jackson
Ann Arbor
.
.
Tot. Mid.West.
-Los Angeles..
; Seattle
! Portland
Tot a 1 a 11 ci ties, 5
All cities, 1 day
SI,749,120,539
420.000,078
$1,905,014,522
305.147,623
i S2,109,120.017
$2,330,102,145
382,904,127
—0.9 | Denver.
+9.2 ! St. Joseph..
I Dos Moines
$2,713,000,272
—4.0
1
days
j
Total all cities for week
Kansas
418,278.094
j-
S2,587,399,311
11.0
+ 15.0
City
...
Omaha
1 st. Paul..
...
...
Davenport
{ Colomdo Springs
given next Saturday. We cannot furnish them to-day, Pueblo
clearings being made up by the clearing houses at noon on ] Fremont
..
Tot. nth.West.
!
St. Louis
New < Ricans
Louisville
:
...
.
Atlanta
Nashville
Savannah
j Fort Worth
Birmingham
Norfolk
Knoxville
Jacksonville
1900.
1907.
New
York
Rochester
Scrantop
Reading
Wilmington...
.
Wheeling
Erie
.
+ 14.4
,
1.954,717
1,509,440
1,208,078
919,100
+ 17.2
+ 1.4
+ 23.4
+ 11.9
3.279,208
3,322.550
839.000
007.273
280.002
2.320,803
1,822,067
038.283
503,204
278,836
53,337.336
20,159,771
4.384.784
2.807,038
1,713,844
—
12,750,300
7,807,000
5,023,522
4,724.485
4.799,921
2,135,424
1.349,525
985,178
830,197
800,310
503.209
402,305
+ 21.8
4-38.5
12.1
+ 9.4
+ 49.8
091.122
025.397
300.537
.890.017
710,158
401.421
513.883
200.354
103.021.739
80 441,050
+ 28.1
70.227,739
03.172.173
55,880.800
15,550,489
J3,213.280
8,470.130,
5,403.000
5,81,8,888!
3.055.289i
4.203.231
3.201.882
3,054,254
2.859,283
2.194,018
2,094,272
J .419.445
1.388,404
1.377.105
1,312.129
+ 12.0
+ 1.0
+ 1.9
+ 30.3
+ 15.4
+ 3.9
+ 18.0
4 10.0
+ 21.0
+ 15.2
+ 41.8
+ 7.1
+ 22.3
50.774,740
52.871,137
15,145.777
1 1.197,344
5.147.031
3.441.000
4.442,236
4.052,080
2.537.509
2,217,412
3,325.870
1.229,401
977,433
770,945
1.193.072
1 .0.82,932
1.350,000
1.221.499
i .489.421
1 .225.000
1.282.045
040,5 10
1.200.000
478.010
+ 5.2
+ 21.2
—2.0
—O.Oj
j
1 .288.800
1 .080.150
4- 15.0
1,01.8.659)
471.9511
+ 25.9|
4-3.5.71
1.000.000
350.125
•*-
+
14.0 1.675,084 C)02jl.237,708,014
♦Dec rea.se due to
30.876,399
6,007,111
4,000,487
3.209.984
2,953,522
1.148,120
703,378
085,139
034.127
401,720
408,513
247,803
+ 25.4
+ 0.9
—
......
2,022.029.92.8
258,878
305,196
241.726
230,000
93,980
204,278,596
13.2!
18,873,398
11.317.209
5,921.00,8
4,745,000
5.128.130
3.878,800
3,140.591
2,829,538
4.085,42.5
2.325,300
1,479.571
1,633.103
1,293.703
1,144,080
983,405
1.400,880
803,397
1.050,99,5
932.455
388.685
changed inetdod ot reporting,
102,876
1.562,089
1.173.495
899,120
1,085.350
889,470
1,025,790
672,733
275.880
20.0
(
8
$
s
S
.0
+ 314
435.101
10.4 1.444.441.000 1,040.072.908 |
1.47,8,712,597'1 709.245,903
130.637,540
+ 12.3
130,437,205
153.145,024
Total Southern
105,405,012 i
5.2
130,129.902
130.902.394i 144.440,910
48.007,437
38.150,714
+11.9
47.890.515
—5.8 2,371,328.290
53.580.200
2.033.007 >29 2,79fi,594,083
Total all
21.470.951
23,104.330
25,855.010
+ 15.4
29.849,001;
+ 12.4
926,887,224
1.154,295,232:1,027,348.720
Outside
N.
Y_
0,577,240
+ 19.7
0,201.250
N,\t8,20s!
7.390.010
4.290,803
5.518.399
5,857.147
+28.7
6,025,918 i
Canada—
4,235.857
4.400.251
5,210.190
-5.2
26,173,902
7.777,901)1
30,020,405
29.027,730
9-49.3;
Montreal
2.524.995
-4.5
4.134,832
18,871.148
+ 0.1
3 >84.009]
4,005.991
22.939,087
24,331.589
Toronto
]
.000.000
1.3
1,058.770
6,430,911
2.149,15 s'
+ 4.0
2,177.8801
8,309,721
11.704.742
Winnipeg
1.194,012
1.677.934
1,491,400
1.717.710 + 24.0
2.492,451
4
47.4
2,140.459)
3.073,408
Vancouver
1.031.478
2,353,810
1,137.853
1.374.499:
+ 5.0
2.001.503
+ 47.9
2.905.375
Ottawa
1.444.1071
972,117
1.101.421
1,714,070
4-22.9
1,212,503
1 .814,275
1.398,5051
+ 15.3
2.230.34!
Quebec
857,800
1,010,502
1,631.933
895.802
+ 31.3
+ 10.5
1,939,504
2,200.283
Halifax
1,175.779]
710,377
773.504
1,259.731
1.014.23L + 17.0
1,192.003'
1.423.481
+ 11.5
1,587.740
Hamilton
540.012
505.170
910,001
+ 6.4
047,513
1.100.500
+ 1 1.7
088.839)
1,230,370
London
381.241
550,408
938,429
574.030' —3.1
+
550,587i
31.4
1,078.081
1.417,177
St.John
419,845
+ 0.08:
400.598
+ 40.4
552.831
583.300
932.450
1,305,900
Calgary
439.400
447.800
510,410; + 12.9
692.901
1,616,004
570.200!
+ 82.3
1,203,494
X ictoria
205.220
235,899
in
—19.0
Not
included
total
280,201
353.384]
937.747
Edmonton
+ 8.7
1.030,731
1.120,417
03,400,582
75,414,085 + 10.1
83,004,272
Total Canada.
Total Middle.. 1,738.803,288
399,192
+ 20.3
.
..
119..59.5
348,890
216,257
284,180,990
30.448.209
9,504,477
6,219,980
4,021.700
5.204,471
+ 22.4
+ 30.5
0,028.403
5,504,918
2.307,408
568,502
179,575
9.427.209
7,203.294
609,700
587,013
537,479
22,199,009
13.304.108
8.978,993
0.347,580
6.142,911
11,378,917
.
Chester
305,040.005
—
Syracuse
Harrisburg
4-10.0
+ 0.1
.
Washington
Albany
Binghamton
j +33.8
,
..
Franklin
1904.
4 44.0
—
Baltimore
Buffalo.
Greensburg
1905.
—
Philadelphia
Pittsburgh
Wilkes-Barre
*
Inc. or
Dec.
Augusta
Chattanooga
Charleston
Little Roc k
l Macon
Waco
Beaumont.
+ 51.8
3,028,919
2,008,145
439,155
545.709
380,727
405,959
339,920
32.8,704
272,272
254,238
270.000
70,387.596
2,501,858
...
Mobile*
Clearings at—
+ 23.4
I
7,873,810
0,748,441
4.103,800
591.554
+ 34.7
+ 10.0
0.040..809
4,335,379
4.710.230
3,891.478
3,519,303
4,053.400
2,350.000
.
j
Week ending June 15.
1,437.201
779,510
810,727
853,034
571,800
524.339
471,210
+ 25.9
13.190.540
11.039.004
0.234.500
1 Rirlimond
Memphis
.
+ 27-9
+21.0
+ 17.3
+ 9.7
+ 25.8
+ 18.0
+ 15.8
+ 7.9
+ 37.9
—7.1
4-28.2
1,984,203
1,703,228
1,105,050
745.010
044.083
23.990,327
10,900.903
02.574.503
10.20S .085
_.
Houston
(fill ves ton
'
2.184,270
1 .710,5.54
75.934.051
2.177,7191
i .810.418
j
510,014
9,82,117
7.82.000
1 Cedar Rapids
Saturday, and hence in the above the last day of the week
has to be in all ease s estimated, as we go to press Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur¬
day noon, June 15, and the results for the corresponding
week in 1900, 1905 and 1904 are also given.
Contrasted with
the week of 1906 the total for the whole country shows a
loss of 5.8%.
Outside of New York the increase over
1906 is 12.4%.
+14.7
+ 5.7
95,5.80.405
2.920,298!
Iopeka
by the above will be
178,803,474
20,237,000
13,804,710
10,711,074
22,320.2931
9.402,5501
7,709.5421
.5.579.870
..
The full details for the week covered
+9.9
+ 10.9
+ i6.2
4 7.0
4 14.0
+ 17.0
191.127,032
25,405,300
15.7.58,227
11,500,641
9,105,882
7,014,470
4,043,500
3,823.270
2.403,500
58.15,535
3,834.299
3,024.034
4,185,031
050.471
071.035
333.891
330.000
23.758.093'
11 .542.218,
I Minneapolis....
Sioux City
Lincoln
Wichita
157,053,842
+20.0
+9.4
+ 8.1
8.095.389'
....
I
'
1,408,708
429.03t
+ 37.3
4 39.2
+12.8
+ 53.4
+15.0
-28.6
+ 40.4
4 45.4
+ 25.0
+ 1.0
+ 37.8
4 50.0
2.738.039
5.088,788'
0,0sl,972
.817.000
077.820
400.000
495.000
.
—
359,093,250
0.375.175!
Oakland
54.194,010
14.091.432
—!
Seven cities, 5 days
Other cities, 5 days.
114,034,948
126.501.084
.
j Salt Lake( ity
j
;
10.115,057!
17.3
j Tacoma
+ 2.1 i Spokane.
—0.3 j Helena
+ 7.4
Fargo
......
+ 19.9 ! Sioux Falls
+ 12.7 i San Jose
Total Pacific.
+ 7.0
—
1
S
139.723,649
0.594,000
2.547,915
1,900.110
1,410.384
1,458,397
140,210,417
4 9.7
450.579
475.384 i
250.027,
308.000,
130,041 ;
■11.913,257
11.824.702
San Francisco
22,400.234
173,029.074
48,098,701
13,105,848
1
-
$1,400,458,373
Per
Cent.
l
2,024,009
1,003.180
1.031.301
849.073
784.000
072,937 i
595,005 i
457,789
j
Clearings—Returns by Telegraph.
Week ending June 22.
>
1904.
+ 3.7
—
14,749,613
10.928.370
8,889.890
5.051,800 j
1
..j
...I
Decatur
:
247,551,000
27,945.700
$
120.758.80
6,937,40(
2,SG0,72(
2,008,221
1,876.10c
1,845.93.:
1.558,997
739.345
006,710
523,07-1
046,098
422,192
478,403
463,800
183,298,003
|
i
Mansfield
i
!
580.249;
447.303
080.000
480.540
490,759
398,147
--i
Springfield. Ohio
following table, made up by telegraph, &c., indicates
that the total bank clearings of all the clearing houses ol
the United States for the week ending to-day have been
$2,587,399,311, against $2,633,007,829 last week and
$2,713,066,272 the corresponding week last year.
738,803|
+ 17.2
—6.0
+ 3.1
4.7
795,057j
Youngstown
South Bend
The
—1.7
— 6.2
1
2,101,917'
Evansville
CLEARING HOUSE RETURNS.
+5+
+21.7
)
2,057,588
.
NEW YrOItK..
7
2
1
2.735,8391
Rapids...
Day I on
Corner of Pearl Street,
+3.7
—0.8
+11 +
4,794,100!
Peoria
Grand
4012.
2,312,375
1,826,827
1.501,029
1.003,990
)
)
19.131,427
!
i
Columbus
Toledo
Publishers,
Post Oflice Pox !).1S.
!
Detroit.
Milwaukee
Hi!
88
b7 00
’ 2g~2s“» $1 IK:::::::::;::::::::
j
Cincinnati
Cleveland .'
22 00
(K times)
Two Months
;
Chicago
$4 20
;
Springfield
Total New
Advertising—Per Inch Space
Transient matter per inch space
i
Worcester
....$11 50
3.099.709
2 70s .305
Hartford u
New Haven
Portland
Subscription includes following Supplements—
B 'xk and Quotation (monthly)
Railway and Industrial (quarterly)
100,733,993
7.079,300
B os ton
1905.
480.543
114.049,366
1,890,659.927
843,986,959
20.781,941
17.073.588
5,128,712
1,431.409
2,022,891
1,570,176
l .604,555
1,128,033
943,111
954.447
801,895
53,505,818
[VOL. LXXXIV.
THE CHRONICLE.
1450
awaiting for and being actively used in the in¬
dustrial operations of the country has been multiplied
many times faster than the increase in the product of
gold has been added to. In other words, the added uses
or demand has much more than
equaled the develop¬
ing product. Not only that, but we think investi¬
gation would show clearly a demand so much greater
than the supply that there is a strain in the bullion
market to satisfy it.
Moreover, it is labor and not capital that is mainly
chargeable with the derangement in values noticed.
This is so patent a fact that it does not need enforce¬
ment
The results have been brought about by friend¬
ly concessions of employers to their employees,by the
demand of labor unions, by legislators everywhere—
these latter beginning at Washington years ago and
more recently active in State capitals.
A large portion
of every session of Federal and State law-making
assemblies has been spent in devising and enacting
statutes the working out of which has ended in an
almost uninterrupted increase in day wages and shorter
hours.
There have also been many other laws passed
besides those directly having this tendency—serving in
various ways to increase the cost of manufacture.
These matters do not need to be enlarged upon.
Any
one who still thinks that a decline of capital has in any
measure advanced the values of things had better visit
some large manufacturing concern and post himself in
the work
THE FINANCIAL SITUATION.
We referred last week to
one
writer struggling with
in the price of capital,
problem less obscure,
but who found, to his chagrin, that the more he studied
the problem the more of a riddle it became.
When an
individual wants to cover up some public doings in
which he is a party, he is apt to speak of it as the
work of a mysterious agent.
If it happens to affect
finances, ten to one he will call it an involvment of
capital; right or wrong, he knows very few can off¬
hand disprove the statement, and for a time at least
the interminable query of a rise
who was trying to make the
not
a
few will be confused and will-have to stir
and collect their scattered wits before
prepared to put in
We have
an
they
about
can
be
intelligent answer.
come across
another inquirer the current
explorer in the same field plowed up
already, but he differs in this, that he has a decidedly
logical turn of mind but has become involved in a
somewhat similar conclusion—no less puzzling and no
more satisfactory than his predecessorsIt is the old
enigma, though, that he is quarreling with; the uncer¬
tainty he seeks to explain differs in no way, as we have
said, but as he has a more logical mind he wants a
methodical way out. Under such circumstances
there is no method that can equal that of assuming in
the form of the question the whole conclusion desired.
It confuses the hearer past recovery; for if the subject
happens to be somewhat abstruse, the inquirer has his
antagonist down before he has a chance to get in a
blow. Hence in this case the questioner boldly asks—
What is the reason for the decline in capital?
After
asking that and not waiting for the antagonist to have
time to catch his breath, he is absolutely overwhelmed
by a full-fledged syllogism. Capital, he is told in this
case, is synonymous with gold,which has declined in
value; the gold dollar is the measure of all values;
if a purchaser wishes to buy anything to-day he must
give the seller two gold dollars instead of one as former¬
ly; these dollars have shrunken by reason of the decline
in capital; the higher price one has to pay for his coat
is an uplift due to the shrinkage in the value of the
week.
He is
an
.
practical affairs.
Philadelphia “Press” says that the suits by
railroads of that State to test the two-cent fare bill
raise a special issue; that is as to the effect of the con¬
stitution of 1873 upon older railroad charters.
Sec¬
tion 2 of the article on corporations in general pro¬
vides that the Legislature shall not pass any laws
remitting forfeiture of charter of any corporation
The
then existing, or
alter or amend the same, or pah a
general or special law “for the benefit of such
corporation, except upon the condition that such
corporation shall thereafter hold its charter subject
to the provisions of this Constitution.”
Section 10
any
of the article
on
railroads and canals declares that
other transportation company then in ex¬
istence “shall have the benefit of any future legisla¬
of values.
After a while the disturbed listener is able to sub¬
due his confusion so far as to discover the flaw in such
railroad
to the surface
after the hearer has succeeded in untangling the mass
of assertion the foregoing statement contains.
If
he is a man of any individual thought, he will soon
ask from whence is the authority derived or the facts
obtained for the assumption contained in the major
premise of the proposition—that capital has declined,
or that the decline in prices of commodities has had
anything to do with that ponderous word capital; or,
if capital has declined, has it exercised any such
6f acceptance of all
These articles do not
dollar, the
reasoning.
measure
The
error
naturally
comes
no
or
special laws, except on condition
the provisions of this article.”
directly touch upon the control
of fares and rates further than that Section 2 may be
construed as forbidding or fixing a.general rate.
If the old charters, says the “Press,” were not modi¬
fied by the Constitution, the State has no power to
name a maximum fare; if the Constitution is superior
to an earlier limitation upon sovereignty, the twocent law may stand.
The'issue has been approached
from many sides but has never been squarely made,
tion
by general
or
potency as implied in the question? Although it is nor have the railroads seemed to care about raising
If it is raised and the control of the State is es¬
not the province of a critic to prove a negative, we will it.
refer to a fact or two which will be conclusive of the tablished, the State is quite certain, the “Press”
whole controversy the foregoing suggestion gives thinks, to pass a utilities law, and if that law is sus¬
rise to.
The only circumstance that can have any tained in New York, it will be imitated in all the States.
relation to or connection with the assumption of a This may be true; as an interpretation of the pres¬
decline in capital is the larger production of the world’s ent drift of things it is a reasonable prediction to
gold mines in recent years. All we need say in reply to make, but we do not concur in the opinion of the
suggestion, and to absolutely negative such an in¬ “Press” that “resistance to moderate regulation,like
ference if urged, is that every individual acquainted the two-cent fare Act, is certain to lead to extreme
with the financial surroundings of to-day knows that legislation later.”
that
June 22
1007.]
THE CHRONICLE.
1451
whether that Act is really “mod¬ or less extent by seven of the ten preceding years.
erate;” whether it is not “extreme legislation” already Moreover, it is likely to be reduced in June, as wre face
But the question of the future course is larger. the possibility of an import balance for that month,
here.
The proposition that if the railroads do not yield qui¬ imports continuing full and cotton shipments running
behind a year ago.
It is the decreasing cotton ship¬
etly now they will only bring worse things upon them¬
ments
that
are causing a dearth of bills in the market ,
selves is not new; it has been openly stated, and the
which helps to explain the exports of gold that set in
newspaper cartoonists have sketched the railroads fly¬
towrards the close of May and have been freer in June.
ing to the Federal Government as a refuge from at¬
tacking States. But there is something to be got over
The operatives in the cotton-spinning industry of
before such a stage can come.
The intimation is that if the roads do not quietly Great Britain were, on June 6, granted an advance in
submit to a lawT which may crush them financially they wages of 5%, the new scale to be in force from June 13.
will provoke other laws which will crush them flatter. This action, which involves higher wages to approxi¬
This means a conflict with higher and deeper laws mately 150,000 hands, was taken after a joint con¬
which are as immovable as the physical laws of na¬ ference between a sub-committee of the Federation of
Master Cotton Spinners’ Associations and representa¬
ture, for the ground of resistance to the reduced fare
may be that it is not financially endurable.
With an tives of the operatives. The movement which cul¬
minated as above stated was started early in May,
increasing need of increased transportation facilities
when the various organizations of mill hands, acting
(including an asserted need of still more expensive
rails as shown by a number of breakages), attempting under the terms of the Brooklands agreement, notified
the employers that twelve months had elapsed since
to enforce a financial impossibility will prove a differ¬
ent matter from enacting one into statute.
It there¬ the last advance in wages and that they desired a
fore seems to us that this attempted enforcement is further increase of 5%. Their request was based upon
the profitable state of trade the preceding twelve
more likely to bring an abrupt check than certain to
lead to still more violent enactments as a penalty of months, which they claimed justified it.
The employers, on their part, while admitting the
self-defense.
At least, legislatures have now come
claims of the hands as to the state of trade during the
to a halt for the present, and there is an interval for
last twelve months, insisted that on present conditions
thinking the subject over.
an advance would not be justified.
After discussion,
In the sense that a decreasing export balance cover however, the Federation General Committee decided
in favor of the advance, but in announcing the decision
a less favorable showing in our foreign trade, the state¬
the hope was expressed that should it be necessary at
ment for the month of May, issued this week, is the
least satisfactory for some time past.
Not only does the expiration of the twelve-month period, on account
of poor trade, to request a reduction in wages, they
the total of merchandise exports exhibit a considerable
would be met as generously as they had met the
falling off from the April aggregate, but the volume of
imports shows an unimportant decline from the pre¬ operatives. By according the increase as requested,
the Federation has, seemingly, not only gained the
ceding month. The result is a balance of merchandise
exports of only $8,001,002, as against nearly 28 millions good will of the employees but removed the possibility
of a serious dislocation of the cotton-spinning industry
in April and, respectively, $25,639,190 and $31,268,145
of Great Britain.
in May 1906 and 1905.
So low an export balance as
recorded in Mav this year—in a month when the
The influx of immigration to the United States in
foreign trade movement is, as a rule, largely in our
favor—is somewhat anomalous and rather difficult of May was of unprecedented proportions and conse¬
explanation pending receipt of the details of the whole quently greatly in excess of the same month in 1906,
when the previous high record was made. Through
movement.
all ports of entry there came in during the month
According to the advance figures of some of the
principal items of export, petroleum alone fell behind 184,886 aliens, the number passed by the immigrant
last year in value and the aggregate of all the products authorities at New York alone reaching the enormous
total of 146,588, or an average of nearly 5,600 per
—breadstuff’s, provisions, cattle and hogs, cotton and
petroleum—is stated at $61,062,544, or approximately working day. Every country in Europe, with unim¬
9 million dollars greater than in May 1906.
Hence portant exceptions, helped to swell the tide, but the
arrivals from Austria-Hungary, Italy and Russia were
the outward movement of merchandise other than
From the first-named country
these specially reported articles was only about 73 conspicuously heavy.
million dollars, against 82 millions, in April and 78 there came in 49.865. against 33,575 in 1906; Italy’s
millions in May last year. On the other hand, the candidates for American citizenship numbered 37,973,
import movement continues at a very full scale, the against 42,565 a year ago, and the arrivals from Russia
and Finland totaled 35,503, as compared with 28,817
figures for each successive month running materially
in May‘last year.
For the five months of the calendar
ahead of the corresponding month of the previous
year 1907 the number of immigrant aliens admitted
year. ^This relative situation has existed almost un¬
to the country has been 589,218, against 554.392 for
interruptedly since August 1904. It is, furthermore,
the same period of 1906, the combined aggregates for
worthy of note that the increasing imports, as com¬
the three countries specially referred to above hav¬
pared with the previous year, are largely among what
ing been approximately 406,000 and 394,060,
are classed as manufactures or materials for manufac¬
ture—the identical items of export that show steady respectively, in the two years. With this heavy influx
of aliens, of which, for the five months, 460.173, or
growth. While our favorable export balance for the
eleven months of the current fiscal year is $420,953,- 78%, were males, it would almost seem that in the
near future there would be less complaint of scarcity
778, an imposing one, it has been exceeded to a greater
It is
a
fair question
,
a
‘
1452
THE CHRONICLE.
of laborers in the South and elsewhere.
The
people
are
coming here in large numbers—numbers un¬
doubtedly sufficient to relieve the labor situation.
But it rests with those having a need for their ser¬
vices, by themselves or through competent and in¬
telligent representatives, to secure them. Among
certain classes of immigrants there is too strong an
inclination to remain in, or close to, large cities like
New York, where they are not needed.
But this
situation could, we have no doubt, be largely regu¬
lated and the immigrants directed to points where
they are really needed by agents of their own races,
who could more readily gain their confidence.
The most
Discounts in the London market
Bank rate,
were
firm at the
LXXXIV.
made
by them for an import of $1,000,000 from New
by Wednesday's steamer, and on that day
$2,500,000 more of the metal was secured for shipment
hence to Paris on Thursday. On Friday a further
sum of $1,500,000 was engaged for shipment
on Satur¬
day (to-day) to Paris. Those of our bankers w’ho
express opinions appear quite confident that the
movement of gold to the French capital will continue,
and that it will be promoted by the Bank of France.
There were also some indications on Tuesday that the
metal might be shipped hence to London, provided
York
inducements
ment.
were
offered to facilitate such
a
move¬
On
Friday the announcement was made that
$1,100,000 had been engaged for export to-day
(Saturday) to the British capital. It is understood
that this export was facilitated by advances of credits
by the Bank of England to the consignees which en¬
abled the consignors to employ cables as a means for
their reimbursement of the exported metal.
Independently of the Russian political situation,
and of the consequent financial outlook, there seem
to be developments which may possibly compel
keen competition for our gold between the Bank of
France and the Bank of England. The Egyptian
demand for the metal, the Transvaal situation and
the political unrest are disturbing factors in England,
a rumor current to-day being that an
Egyptian bank
has suspended.
The troubles in the French wine
important European event this week was
by an Imperial
decree which was enforced early on Sunday morning.
This event had been foreshadowed for some days, and,
indeed, it had been predicted at intervals during last
w'eek, and therefore when it occurred it had compara¬
tively little political effect anywhere. In Russia it
caused only a minimum of domestic disturbance,
owing to the precautions taken by the Government to
prevent a popular outbreak. The financial effect in
Western Europe was also comparatively unimportant
and the derangement to the security markets soon sub¬
sided.
Russian bonds at first met a sharp decline,
recovering by the middle of the week, continuing,
however, more or less feverish, as the result of the districts and
earlier drop.
augment its
the dissolution of the Russian Douma
[VOL.
the desire
reserve
are
of the Bank of France to
unsettling factors in that
country
the rise therein having occurred on the
Reason still holds sway in the affairs of men, even
previous Saturday in response to the withdrawal from
the Bank of $1,250,000 gold for Egypt. Paris dis¬ though
political developments often make one think
counts were not affected and those at Berlin only that the
contrary is true. The politicians, when they
slightly. The comparatively unimportant financial attack the railroads or the other instruments for con¬
disturbance noted was attributed to the fact that the ducting the
country's commerce and industry, evi¬
dissolution [of the Douma made improbable any suc¬ dently feel that they are voicing the demands of the
cessful effort on the part of the Russian Government,to masses or of the commercial classes.
But things are
negotiate a new external loan, the European financial constantly cropping out now going to show that
syndicates being committed to the policy adopted last there is much mistake underlying the notion. We
year of refusing to effect such emissions unless they observe, for instance, that the Board of Trade of Louis¬
were authorized by the Douma; therefore,-until a new
ville has adopted a set of resolutions and is distributing
parliament shall be convened and action taken by it in it through the State of Kentucky urging the people
the matter of a new loan, none can be issued.
The of that State to take advantage of the anti-railroad
necessities of the Government for money with which
campaigns in other States and by special inducements
to meet maturing interest, &c.—if the statement seek to attract
capital for new railroad building in
which was officially made last week, as reported in Kentucky. The Board declares itself in favor of
legis¬
the “Chronicle,” is true—Russia has decided to procure lation, “if such be
necessary,” to prevent fictitious
by an interior loan. It seems probable, therefore, that capitalization while demanding the enforcement of
with new borrowing by Russia deferred, or restricted laws to correct
corporate abuses as well as the punish¬
to specific requirements, accumulations of European ment of those who fail to
obey such laws. But it ex¬
capital that had been made in anticipation of Russian presses the belief that what is now in order and for the
needs would be released for other employment.
The interest of the public is co-operation between the people
syndicates, however, which have been instrumental in of the State and the railroads with a view to the good
the negotiation of previous loans, would feel, it is pre¬ of both.
We believe, say the resolutions, that if the
sumed, under obligation to their clients who had railroads honestly accept their responsibilities to the
invested in such loans to protect the market price
public and endeavor to live up to them, then the public
thereof so as to prevent serious declines in the securi¬ should as
honestly strive to make the business of the
ties and hence aid Russia.
railroads successful and profitable.
Public hostility,
This desire of French bankers thus to sustain Rus¬ harsh criticism and drastic
legislation, it is declared,
sians for the benefit of their clients may, it is thought can serve no
good end. Continuing in this strain,
likely, account for the urgency that was manifested the Board adds:
this week in the French demand for our gold.
Though
“It is undoubtedly a true economic proposition that
these bankers did not bid for any portion of the
the losses of a business, as well as the profits, depend
£500,000 consignment from South Africa that was on the earnings of the business. In applying this
offered in London on Monday, arrangements were proposition, we believe it
is^true that any excessive
June 22
1907.]
THE CHRONICLE
J 453
damage that the public, or its individual —any business enterprise, in short—could be lawfully
members, inflict upon the railroads in any way what¬ conducted by a city if this proposed Act were lawful.
ever, either in excessive taxes, damages for personal He
quotes from the opinion of the Attorney-General
injury, or any other items that go to make up the cost of the
State, whose advice he asked, to the effect that
of operation, must be met by the public in the shape
of payment for transportation; hence the best way for the conducting of such a business is not a public pur¬
the public to secure cheap transportation and satis¬ pose for which money may be raised by taxation.
factory service of transportation companies is by fair Moreover, that when it is considered the bill author¬
and moderate laws, fairly and justly administered.’’
izes the sale of ice at wholesale only, it is even more
expense or
“Fair and moderate laws” is all that any one can
ask apparent that the purpose is not public. Under such
for, and yet how far away from that doctrine we are circumstances, the Governor said he was not called
drifting. We are glad to see a Southern commercial upon to decide whether this legislation, so serious in
body expressing itself strongly in favor of such a course, its character, is or is not desirable. Legislation of a
for no part of the country has more to gain than the similar character has been declared unconstitutional
South from adherence to such principles.
The rail¬ by the Supreme Court, and hence very properly the
roads have done much for the South and they are Governor interposed
his veto.
ready to do a great deal more, provided only they can
be assured of fair and decent treatment and be allowed
to make
adequate return
We also observe that the Massachusetts
Legislature
the money invested. has acted in accordance with a previous suggestion
The South also needs outside capital for the develop¬ of Governor
Guild, and passed a resolution providing
ment of its enormous mineral and agricultural re¬ for the
appointment of a special commission on com¬
sources.
Such capital, too, it can only obtain under merce and industry, whose duty it is to be to investi¬
“fair and moderate laws.”
The Louisville Board of gate general industrial conditions in Massachusetts in
Trade declares itself in favor of ten years’ exemption all its various phases and the effects upon the
same of
from all taxes—State, county and municipal—on all
existing laws and the need as to future legislation.
new railroad mileage built in the State, either
by ex¬ The five members of the commission are to represent
isting railroad companies or other companies desiring law, transportation, manufactures, labor and capital,
to come into the State, or by individuals or corpora¬ and
they are to serve without compensation. The
tions generally who seek to develop and enrich the commission may
employ expertsjmd incur reasonable
State by providing it with increased means of trans¬ expenses, for which and for the
carrying on of the in¬
portation. The suggestion, we should judge, was a vestigation an appropriation of $15,000 has been made.
wise one, and it furnishes evidence that our Southern The theory
underlying the creation of this commission
friends are alive to the needs of the situation.
They is obviously a sound one. Under the universal de¬
are pursuing a policy of enlightened self interest when
mand for laws to regulate everything under the sun,
they seek to favor those who are in position to favor the practice now is to legislate first and to investigate
them.
afterwards.
Massachusetts proposes to reverse this
time-honored practice and investigate first, with the
In the political world also, there have been some view to seeing if there is need for further legislation—
very encouraging developments recently.
We like whether indeed there may not have been too much
particularly the veto by Governor Guild of Massachu¬ legislation, and whether the ills from which the Com¬
setts of what was known as the Holyoke Ice Bill and monwealth is suffering may not be due to that cause.
the message v hich accompanied the veto.
The meas¬ Massachusetts is a progressive State, and it usually
ure would have allowed the City of Holyoke
to harvest follows conservative lines of action, too. Her people
and sell ice at wholesale.
But Governor Guild shows do not purpose being left behind in the race for in¬
that he, fcr one, is not imbued with socialistic ideas, dustrial advancement and industrial supremacy, and
and that, moreover, the carrying on of private business one of the functions of the commission is to consider
under municipal auspices is not permitted under the what may be done by legislation, executive action or
Massachusetts Constitution. The Governor points otherwise for the exploitation of the industries of the
an
out that if such
lish
a
precedent
on
bill should become law it would estab¬
by following which any town, city or
Commonwealth might engage in any kind of commer¬
cial or manufacturing enterprise.
The bill in'question
not only sought to establish such a precedent, but even
went to extremes in municipal finance by authorizing
the city to borrow money outside its debt limit that it
might engage in such a business experiment. Water,
gas, electricity and transportation, he argues, cannot
be furnished to the public without permission granted
by tihe public for the laying of pipes and tracks and the
erection of poles or wires.
The proposed legislation
as to a municipal ice plant, however, would go farther
than the Government ownership of public utilities.
It would let a city conduct a kind of business that
needs nothing more than what any private citizen can
sec ure by raising the necessary capital and investing
it in a plant.
The Governor says the manufacture and
sale of shoes or clothing, the cultivation and distributi on of vegetables, the erection and leasing of tenements
a
State.
We have
obsolete laws
no
doubt that it
will find many
the statute
books, and also that these
proved a bar to progress. At all events, nothing
good can result from the creation of such a body;
on
have
but
and other States which
are
ceeding with too free
hand to grind out additional
example
statutes
a
beset with the evil of pro¬
could not do better than imitate the
of Massachusetts in that respect.
Besides the many serious problems with which the
Inter-State Commerce Commission is called upon to
deal, it is also obliged from time to time to pass upon
the petty vexations of office routine. The Commission
has just called the attention of carriers to the fact that
a great amount of mail matter addressed to it contain¬
ing tariffs and other documents is sent without suffi¬
cient postage. The Commission therefore announces
that hereafter no tariff or supplement to the same will
be accepted for filing unless it is delivered to the Com¬
mission, free from all charges or claims for postage,the
Exchange collateral were quoted at 4% for
thirty and 4)4% for sixty to ninety days, 4)4 @5%
that the carriers were called upon for four, 5)4% for five to six and 5J4@6% for seven
months. Easier rates are looked for after the middle
before the date
which such tariff or supplement is to be effective.
full thirty
[VOL. LXXXIV.
THE CHRONICLE.
1454
days required by the law
upon
We were not aware
Stock
the expense of postage on all the numerous docu¬
of July, and therefore the demand for time money
they are obliged to forward to Washington
was chiefly for the shorter maturities.
Commercial
for the use of the Commission and in compliance with
the law, but the regulation just made will undoubtedly paper is liberally offered, because of slow collections,
which are due to the backward season, and the demand
suffice to correct the practice of the carriers in the
is -light.
Rates are 534% for sixty to ninety day en¬
particular noted. It also appears that there is often
dorsed bills receivable, 5)4@6% for prime and 6@
tardiness in prosecuting complaints before the Com¬
mission.
The Commission holds that in formal pro¬ 6)4% f°r good four to six months’ single names.
ceedings before it, complaints must be prosecuted with
The Bank of England rate of discount remains un¬
reasonable diligence, and the Commission particularly
insists that when a case has been formally assigned changed at 4%. The cable reports discounts of sixty
to ninety day bank bills in London 3J4@4%.The open
for hearing on a certain day, the parties shall appear
market rate at Paris is 3%% and at Berlin and Frank¬
and present such evidence as they may wish to offer
fort it is 4J4@5%.
According to our special cable
in support of their contentions, or, in advance of the
from London, the Bank of England gained £664,601
'date set, request postponement on stated grounds,
bullion during the week and held £35,668,332 at the
showing good and sufficient cause for delay. Ob¬
close of the week.
Our correspondent further advises
viously no fault can be found with a requirement of
us that the gain
was due in about equal measure to
that kind.
heavy receipts from the interior of Great Britain and
The details of the
There was no change in official rates of discount purchases in the open market.
movement into and out of the Bank were as follows:
by any of the European banks this week; compared
with last week, unofficial, or open market, rates Imports, £509,000 (wholly bought in the open mar¬
were, at the close, )4 of 1% higher at
London, ket); exports, £488,000 (of which £250,000 to Egypt
and £238,000 to Paris), and receipts of £644,000 net
Berlin and Frankfort and unaltered at Paris; dur¬
to pay
ments that
23)4%.
ing the greater part
were
well
of the week discounts at London
Bank minimum of 4%. The discount as
the securities markets were unfavorably affected
at the
as
by the political crisis at St. Petersburg incident to the
forcible dissolution of the Douma, but while there was
more or less feverishness observable, there was a ten¬
dency toward normal financial conditions after the
middle of the week, though international properties,
and especially Russians, were unsettled.
The feature of the statement of the New York As¬
sociated Banks last week was the decrease in the sur¬
plus reserve by $1,465,900, to $4,514,625, as the result
of a loss of $2,683,200 cash, less a reduction of $1,217,300 in reserve requirements.
Loans were contracted
$1,689,500 and deposits decreased $4,869,200. The
bank statement of this week should reflect, among
other items, the withdrawal of $3,500,000 gold, which
was shipped to Paris on Wednesday and Thursday,
3and also the average of $2,600,000 that was exported
to that
centre and to London .to-day (Saturday).
Total shipments to Paris and to the British capital
thus far on this movement, $18,500,000.
The low bank reserves, as indicated by last
week’s re"
loss of gold through exports, and also of cash
by reason of absorptions by the Treasury and expec¬
tations that the movement of gold to Paris would con¬
tinue, contributed to the establishment and main¬
tenance of firmer rates for money on call and for fixed
turn, the
representing bankers’
balances, were effected at the Stock Exchange during
the week at 3% @2)4%, averaging about 3%; banks
and trust companies quoted 2)4% as the minimum.
On Monday and on Tuesday loans were at 3% and at
with the bulk of the business at 2%%. On
Wednesday transactions were at 3)4% and at 2l/i%
with the majority at 2%%On Thursday loans were
at 3%% and at 2)4% with the bulk of the business at
On Friday transactions were at 3)4% and at
2)4% with the majority at 3)4%. Loans on good mixed
periods.
Day-to-day loans,
from the interior of
Great Britain.
Though irregular, the foreign exchange market was
generally strong this week at about the highest prices
of the year, influenced, as has latterly been the case,
by a scarcity of bankers’ bills and an urgent demand,
especially for cables, for the reason that the foreign
settlements due at the end of the half-year had to be
met with this class of exchange instead of with short,
which, unless it was remitted by mails" early :n the
week, would not arrive out in time to be available for
such adjustments.
Long sterling was in fair demand,
influenced chiefly by a meagre supply of commodity
bills, but the higher discount rate in London tended to
restrict purchases. Continental exchange was strong
in consequence of the disturbed political situation in
Russia and it was affected also by firm discounts at
Paris and Berlin.
Dearer local money rates seemed to
have no influence on the market, the slight recession
in short sterling, after Tuesday, being due not to the
advance in call loans, but to the relaxation in the in¬
quiry for remittance with such bills and to the prefer¬
ence given to cables, for the reason above noted.
The
fact that French bankers refrained from bidding for
the South African gold that was offered in London on
Monday, thus enabling the Bank of England to secure
the consignment, gave rise to a rumor that the require¬
ments of these bankers for gold had been satisfied,
and an advance of half a centime in the rate for ex¬
change at Paris on London seemed to confirm this
rumor.
On the following day, however, an engage¬
ment of $1,000,000 gold was announced by a firm
which had been one of the largest shippers, and it was
then stated that the Bank of France was still offering
inducements to American bankers to ship gold to Paris.
On Wednesday this Bank withdrew £238,000 from the
Bank of England, which indicated that the French
bank had not yet fully effected collection of its ad¬
vances to that institution.
It was then announced,
that $2,500,000 gold would be shipped to Paris on
June 22
1455
THE CHRONICLE
1907.]
Net Interior
Shipped by
Received by
Movement.
N. Y. Banks. N. Y. Banks.
Week ending June 21 1907.
Thursday, and a further amount of $1,500,000 was for¬
warded by the steamer sailing to-day (Saturday). Currency
$4,504,000 Gain $1,897,000
$6,401,000
380,000
1,120,000 Gain
1,500,000
Gold
There are no indications that the requirements of the
$5,624,000 Gain $2,277,000
$7,901,000
Total gold and legal tenders.
Bank of France for gold will be satisfied by these ex¬
ports and bankers are of the opinion that much more
With Sub-Treasury operations and gold exports the
will be needed; therefore, it seems probable that the result is as follows:
\
movement will continue until it shall be arrested by a
Net Change In
Into
Out of
sustained advance in rates for money at this centre.
Bank. Holdings.
Banks.
Banks.
H’edt ending June 21 1907.
There was a report early in the week, when the move¬ Banks interior movem't as above..
$7,901,000
$5,624,000 Gain $2,277,000
30,000,000 Loss
4 000,000
26,000,000
Sub-Treas. oper. and gold exports
ment to Paris seemed to be suspended, that negotia¬
$33,901,000
Total gold and legal tenders
$35,624,000 Loss $1,723,000
tions were in progress for an export^ of gold hence to
London, and that shipments might be effected provided
The following table indicates the amount of bullion
the Bank of England would offer the inducement of in the
principal European banks.
,
an
allowance of interest
on
the metal while it
was
in
transit, without which inducement gold could not be
shipped.
There was no confirmation of this report
until Friday, when the engagement of $1,100,000 for
shipment to London was announced; the export was
facilitated by advances of credits by the Bank of Eng¬
land which enabled cables to be employed for covering.
The exports for the week were $5,000,000 to Paris and
$1,100,000 to London, making the total thus far to
both centres $18,500,000.
It may be noted that
gold has begun to move from Alaska—from which sec¬
tion $1,000,000 is expected soon to arrive at San Fran¬
The production of Alaskan gold this season is
cisco.
estimated at about $6,000,000 and probably double
that amount will be received from the
Klondike fields.
quotations for sterling exchange are
4 84%@4 85 for sixty day and 4 88@4 88% for
sight. 'On Saturday of last week the market was
strong and compared with the previous day short
rose 10 points to 4 8715@4 8725 and cables 10 points
to 4 S765@4 8775;
long was 10 points lower at
4 8360@4 8370.
On Monday long advanced 15 points
to 4 8375 @4 8380, short 20 points to 4 8735@4 8740
and cables 20 points to 4 8790@4 8795.
On Tues¬
day long fell 5 points to 4 8370@4 8375 and cables
5 points to 4 8785@4 8790; short was unchanged.
On Wednesday long rose 15 points to 4 8385 @4 8390
and cables 5 points to 4 8785@4 8795; short was
unaltered. On Thursday long advanced 20 points to
4 84@4 8410 and cables 5 points to 4 8790@4 88;
short was 5 points lower at 4 8730 @4 8740.
The
market was strong on Friday and 10 points higher
for long, 5 for short and 10 for cables.
The following shows daily posted rates for sterling
exchange by some of the leading drawers:
Nominal
Wed..
Tues.,
Thurs.,
Fri.,
Mon.,
Fri.,
June 14 June 17 June 18 June 19 June 20 June 21
160 days
—(Sight..
J60 days
Baring •
& Co
(Sight..
Bank British
J 60 days
North America.
(Sight.
Bank of
J 60 days
Montreal..
...) Sight..
Canadian Bank
J60 days
of Commerce
\Slght-.
J60 days
Heldelbach, Ickelhelmer & Co.... —(Sight..
Lazard
J60 days
Freres..
(Sight..
Merchants' Bank
J 60 days
of Canada.
(Sight..
Brown
Bros. & Co
—
—
_
—
...
—
The market closed
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
84 X
88
84 M
88
S4H
84MS
84H
88
85
88
88
84 H
88
84H
84H
88^
84^
88
84 H
88
88
88
88
88
84*^
84H
84H
88
84 H
88
84
88
88
84 H
88
84 H
88
88
84H
84V*
84H
88
88
84H
84H
84H'
88
SS
88
88
84 M
88
84^
84>4
84^
84H
88
88
88
84^
87^
84^
87H
84H
84H
84H
88
84 X
88
88
88
84 H
88
88
88
84 H
88
84^
84^
88
84«
87>*
84H
88
84 H
88
88
on
84H
84^
84^
88
84>*
84H
88
84 M
88
,
June 21 1906.
June 20 1007.
•'
Bank of
i
Gold.
Silver.
1
£
England.. 35.668,332
France... 110,159,384
Germany a 35,780,000
Russia d.. 116,304,000
Aus.-Hunb 45,658,000
£
..;
Tot. week.
Tot. prev.
Gold.
Silver.
£
£
£
,
Total.
£
'
37.173.152
42,744,0441160,693.358
11,927.000 47.707.000 38.378.000 12,793.000 51,171.000
6,478.000122,782.000 100,291.000
5,725.000 106,016.000
35,668,332 37,173,152
39,714,631 149.S74,015 117,949,314
12,651,000
Spain
15.529,000 25,717,000
Italy
4.944.700
32,291,000
Nethl’ds.: 5,342.000! 5.683,300:
3,173.333
Nat.Belg.a
1,586.667'
Sweden
—
Total.
4,141,000j
58,309,000 46,777,000 12,776,000! 59.553.000
41,246,000 15,146,000
37,235.700 29.001,000
11,025.300 5,522,800
4.760,000
3.245.333
j 4,141.000
3,878,000
24,627.000' 39,773.000
3,997.000 32.998.000
5,817,700 11.340.500
1,622.667 4,868,000
| 3,878,000
404,046,049108,702.298512,748.347 397.361,599 110,102.411:507.464,010
401,993,614108,593.834 510,587.448:393,316.577 109,572,885.502,889,462
I
l
j
I
I
a The division (between gold and silver) given in our table of coin and bullion
in the Bank of Germany and the Bank of Belgium Is made from the best estimate
able to obtain; in neither case is it claimed to be accurate, as thase banks
make no distinction in their weekly returns, merely reporting the total gold anil
silver; but we l elleve thi division we make Is a close approximation.
b The Austro-Hungarian Bank Statement is now issued in Kronen and Heller
we are
Instead of Gulden and Kreutzer.
The reduction of the former currency to
Pounds was by considering the Gulden to have the value of 80 cents.
As the
sterling
Kronen
has really no greater value than 20 cents, our cable correspondent in London, in
order to reduce Kronen to Pounds, has altered the basis of conversion by dividing
the amount of Kronen by 24 Instead of 20.
d The total of gold in the Bank of Russia Includes the balance held abroad—
that Is the amount held for Russian account in other Continental banks.
The
proportion
so
held and consequently duplicated in the above statement Is about
one-quarter of the total.
DISSOLUTION OF THE SECOND DOUMA.
We suppose
that the first comment which most
thinking men will make on the dissolution of the
second Russian Douma by the Czar, last Sunday,
is that it reflects, on the part of Russia’s rulers, a
hopeless vacillation of mind and uncertainty of politi¬
cal grasp which promise no very good results for the
future.
In this respect the conduct of the Czar may
possibly divide criticism with the conduct of members
of the Douma, whose most serious shortcoming—the
one charge in the Czar’s bill of complaint which is
certainly well founded—was their repeated failure to
make up their minds on needed proposals of legisla¬
of the Czar, the
criticism will be that he began
tion.
In the
case
natural and proper
his experiment by
granting everything, and followed up this beginning
by taking away first one and then another of his con¬
cessions.
This is
a
fair inference from his edict of
Sunday, in which provision is made for a radical re¬
suffrage, the method of election,
and the constituency of the Douma.
Now, a child in politics should be aware that grants
which are made and then revoked, even if part of the
concession is left in force, sometimes create more dissatis¬
construction of the
faction than absence of any grant at all.
who can see further ahead than from one
Friday at 4 8410@4 8415 for other
accustomed to
are
measure
Statesmen
day to the
the practicability
long, 4 8735@4 8740 for short and 4 88@4 8810 for of concessions when they are first proposed. Experi¬
cables. Commercial on banks 4 8365@4 8375 and ence teaches them that, if they grant a little now, a
Cotton for
payment 4 83@4 83%, cotton for acceptance 4 8365@
4 8375 and grain for payment 4 84% @4 84%.
documents
for payment
4 83@4 84%.
little
and so proceed until the
of concession has been reached, they
more
measure
next year,
fuH
will
preserved both their own consistency and the
popular approval. To grant everything, and then
The following gives the week’s movement of money withdraw half of what was granted, may conceivably
end with the people in possession of all they ought tQ
to and from the interior by the New York banks.
have
1456
THE CHRONICLE.
have had at any time; yet it is obvious that- a feeling
of soreness, distrust and irritation must remain.
Nor
are such feelings under such circumstances unreason¬
able.
It is all very
well for the sovereign or the minis¬
explain that he made a mistake in the first place,
which he is now correcting through his revised arrange¬
But the proletariat will answer, or if it does
ment.
not openly answer will at all events believe, that there
is now no guaranty against further and even more
radical change of mind in a future exigency.
In the
case of Russia, if the Czar is now exercising the
right
of revoking a part of the privileges solemnly granted
to the Russian people, what is to prevent his revoking
the whole of them next year?
We suppose that Sun¬
day’s manifesto will be taken in exactly this spirit by
the Russian people.
The Czar presents formally his reasons for this step.
Very probably they state the honest convictions of a
well-meaning sovereign; but people experienced in
parliamentary government will, we imagine, pro¬
nounce them just a little naive.
“To our sorrow/’
this document recites, “a considerable section of the
second Douma failed to justify our expectations/'
These expectations were for the pacification of the
country and for what the Czar indefinitely calls “to
establish the affairs of state in regular course."
Now
the probability is that at least a part of the Domna's
membership would answer this charge by saying that
they never had any intention of justifying precisely
the expectations entertained by the Czar, and that
they were not sent to St. Petersburg by their con¬
ter to
[VOL.
try members of the Douma by wholesale,
LXXXIV
general
charges of treasonable conspiracy, would instantly
do away with the whole independence of the Legis¬
lature. The Czar, it is true, did not, in imitation of
Charles I, undertake to enter the Douma with his
soldiers and drag out the members designated for such
prosecution by the Government. But the logical
sequel of his demand on the Douma, if granted, may
readily be foreseen. The Czar and his Ministers claim
to judge as to what members shall thus be placed on
trial; nothing, then, could be more simple than the
submission of such demands. at any time when an
awkward majority against the Government had de¬
veloped in the Douma. If the Opposition numbered,
let us say, a majority of ten, removal of fifteen mem¬
bers on the grounds set forth in this week’s manifesto
would give a comfortable margin for the Government’s
own measures, and to precisely the same extent would
defeat the purposes of the people. Our own Constitution;
it is true, provides only that Senators and Represen¬
tatives “shall in all cases, except treason, felony and
breach of the peace, be privileged from arrest duriu
on
C“
their attendance at the sessions of their respective
Houses and in
going to
or returning trom the same/
Treason is what the Czar
alleges against the fifty-five
members of the Douma.
But the habeas corbus is not
the instrument of protection in
Russia which it is in
Anglo-Saxon countries; the nature of the Russian
criminal process renders Executive tyranny perfectly
feasible, and the cases are,therefore, in no respect
identical.
Adopted in habitual practice, the Czar’s
stituents for such a purpose.
plan would simply mean the holding of permanent ter¬
The very term “opposition", as employed in the rorism over legislative
critics of the Czar’s own
parliamentary language of every well-developed con¬ policy. Such powerful sovereigns as Henry VIII
stitutional State, shows that such hostility to the pur¬ and Elizabeth shrank from this.
As for the new electoral law which the Czar pro¬
poses of the governing power is a part of necessary
parliamentary machinery. We do not deny that cir¬ poses, fixing September 14 for the assembling of the
cumstances in the case of the Russian Parliament new Douma elected under it, all that can be said is that
were peculiar.
But it does not appear to us that the districts from which the more radical members of the
Czar’s manifesto anywhere establishes facts except the present body came are partly or wholly disfranchised,
habitual delays of the Douma and its failure to follow whereas a larger parliamentary representation is
out the Imperial purpose.
Assertions that the Douma granted to constituencies whence the defenders of
was not “desirous of working for the interests of the
the Imperial power have been sent.
Whether the
country,” or that it “did not lend its moral support Russian people will give up without serious resistance
to the government in the restoration of order," or to these new proposals is
perhaps a doubtful
that “the right of interpellation was transformed into question; for ourselves, we should imagine that the
a means of fighting against the Government and of
spirit of blind and purposeless insurrection, such as
exciting distrust against it ,” are comments which, at was witnessed during 1905 and a good part of 1906,
all events, show a singular obtuseness to the Anglo- must for the most part have spent its force.
On this
Saxon theory of representative government.
fact, doubtless, the Czar and his advisers reckoned.
Although these various shortcomings of the Douma A more serious question is whether this limitation of
in its legislative capacity are asserted as cumulative the suffrage under such peculiar circumstances
may
grounds for sending its members home, the real cause not mean such break-down of popular belief in the
for dissolution by the Czar is stated in the following parliamentary plan that elections may henceforward
become a perfunctory farce, leaving the Douma, like*
allegation:
“Lastly, an act was committed unheard of in the the French Assembly under the Bourbon kings, a
annals of history.
The judicial authorities discovered mere machine for registering the royal will.
a plot by a section of the Douma against the State
As regards the effect of this new step on Russia’s
and power of the Czar, but when our Government outside
credit, the most that can be said just now is
demanded the exclusion, until judgment had been
that Russia hardly has reason to expect the outside
passed, of fifty-five members of the Douma implicated
in the crime, and the arrest of those among them most markets to lend it money under any circumstances
compromised, the Douma failed to carry out imme¬ during the present financial situation. Perhaps in
diately the lawful demand of the authorities, which preparation for this week’s step the Imperial Bank,
admitted of no delay.”
as we have hitherto pointed out, has added to its home
It is difficult at this distance to pass judgment on reserves during the past fourteen months no less than
the irierits of this particular charge; but it is not diffi¬ $100,000,000. On this, no doubt, the Government
cult to show that assertion of the right to seize and relies as its present financial mainstay.
June 22
are
HUGHES
GOVERNOR
AND
OUTLOOK.
THE
not satisfied with recent
POLITICAL ready to take
^
Hughes has followed up his commendable
action in vetoing the Two-Cent Fare Bill which the
Legislature of this State had enacted by vetoing still
another measure of the same type. He has put the
seal of his disapproval upon what was known as the
Train Crew Bill.
The object of this bill was to com¬
pel the employment by the railroads of an additional
brakeman on their freight trains, thereby increasing
the customary size of the crew from five to six persons.
The Governor’s reasons for withholding his approval
are sound and incontrovertible.
He well says that
Governor
"
1457
THE CHRONICLE.
1907.j
candidate of
a
up, nay
are
tendencies, and who
are
anxiously looking for,
conservative rather than of
a
a
radical
We believe, too, that the sentiment reflected
by those who favor conservative action is by no means
uncommon—that large numbers of the population are
out of patience with the policy which seeks to hamper
type.
the activities of the carriers and of other industrial
agencies, and who unqualifiedly condemn antagonism
or hostility to the capitalist or to honest wealth.
We
have now, as we have always had, great faith in the
integrity and common sense of the American people.
If the issue could be presented clearly and distinctly,
free from side matters of all kind, we are sure that
the bill takes no account of the differences between appeal to the justice and spirit of fair dealing of the
the different roads and parts of roads, in tracking and voters of the United States would not be in vain.
switching facilities, and of the fact that what may be Such an appeal never has failed. There have been
necessary in the case of some railroads may be wholly many critical periods in the past when questions of
unnecessary in others.
For example, on the New the greatest moment were submitted to the American
York Central, the tracking and switching facilities on masses, and the verdict has always been on the side
the main lines of the system are of such a character of right and justice.
The only danger is—we fear that now as we always
as to make unnecessary the employment of a third
brakeman. Mr. Hughes argues with much force that have—that the issue may be obscured in such a way
to require the expenditure of a very large amount of that the voters will be voting under a misapprehension
or be obliged to choose the lesser of two evils.
With a
money (estimated at several hundred thousand dollars
man
standing squarely and unequivocally for the
annually) without necessity for the outlay, is simply
arbitrary exaction and taking of property without rights of property and the protection of vested interests
due process of law.
In these days, when it is the fash¬ on the one side, and an opponent of these old-fashioned
ion to favor adverse legislation of all kinds directed ideas on the other side, demanding the overthrow of
against the railroads, no matter how severe and unjust, the existing order, we have absolutely no doubt as to
the outcome.
Candor compels the statement, how¬
a departure such as here indicated is obviously welcome.
On account of these two vetoes we are already being ever, that at the moment there appeal's to be little
told that Mr. Hughes is the man of the hour and looms prospect of a square, up-and-down political battle of
We are this kind. The two great parties are apparently vying
up large as a possible Presidential candidate.
asked to believe that he has suddenly become a figure with each other to see which may go furthest in yield¬
of national prominence and that we must hail him as ing to unreasoning clamor and embracing socialistic
notions.
We are apprehensive lest the so-called con¬
our saviour from the political tendencies of the times.
One publication, usually very conservative in its servative prove to be one who has no real claim to the
utterances, goes so far as to compare him with Lincoln. title, who is not at all moderate, but who is ready to
While apparently following intelligent and capable make concession after concession to the noisy crowds
public opinion like a born statesman he has endeavored in order to gain their favor or their votes. This is the
(this critic argues) wisely to direct and mold it and kind of “conservatives” that are in office nearly every¬
there are those, we are told, wrho even “anticipate where to-day, and it is the kind that we are now to
good results from his Public Utilities Law, provided be asked to accept and endorse. They would concede
everything, even the fundamentals of right, in the
an upright, impartial commission is secured.”
It is a striking commentary upon the pass we have effort to keep out the dreaded “radicals.”
As a matter of fact this class of conservatives—and
reached when a high Government official becomes, as
would here appear, a figure of national prominence the woods are full of them—are really more dangerous
simply because he does two or three acts of justice in than the out-and-out radicals who make no disguises,
the ordinary course of his routine duties. And yet, but declare their undying hostility to the existing or¬
der.
Should such a radical of a pronounced type
we confess that to us there is something decidedly
encouraging in this kind of praise and comment, by any chance be elected to office, he would be power¬
obviously overdone as it is. For a long time we have less to accomplish anything. He would be opposed by
,
been told that the assaults on the railroads, on cor¬
the conservative element in the Democratic
porations, on capital, on accumulated wealth, voiced
popular sentiment—and voiced it in such an over¬
whelming degree that it was useless and foolish to
attempt to stem the tide. To float with the current
has been the one ambition of the politician, the Gov¬
ernment official and the newspaper editor everywhere.
How quickly the whole movement would collapse if it
could be proved to the satisfaction of these fickle elements that the bulk of our people do not look with
which, we are obliged to say, possesses the bulk of these
irreconcilables, and he would be opposed by the whole
4*
Party,
Republican Party, which until the last few years
has always stood for what was best and highest in
political ideals. Every measure proposed by such an
assailant against established ideas would be scrutinized
and squarely challenged.
But as things are now, with
of the
the so-called “conservatives” in
control, criticism is
disarmed and the existing order is being slowly but
surely sapped by concession after concession, until it
unqualified approval upon the course being pursued.
In the way Governor Hughes is being praised for his is becoming a question whether we would not do bet¬
two recent acts there is evidence, it seems to us, that ter by embracing the whole brood of nauseating so¬
there is, after all, a considerable body of citizens who cialistic doctrines all at once and be done with it.
THE CHRONICLE
1458
We would then have
would
end of shams and
everybody
know just where he stood and what was ahead
an
of him and the country.
It is in this light that Mr.
[VOL. LXXXIV.
It should be noted, too,
that Mr. Hughes
his veto of the Two-Cent-Fare Bill on the
ground that two-cent fares were wrong per se. He
action?
did not put
Hughes's pretensions and based his action on the assertion that the Public
political aspirations—for he certainly has political Service Commissions had.been created for the express
aspirations, otherwise he would not be in the Govern¬ purpose of determining the question. He said: “I
or’s chair—must be tested and examined.
There do not mean to be understood as saying that a maxi¬
mum two-cent passenger rate would be unreasonably
never was a time in the history of the country when
there was greater need of a man of the right type— low.
It might be high enough in many cases.
Pos¬
sane, sensible and courageous—than at present, and sibly it would be high enough in all cases.”
And as
there never was a time when a man of that type had further evidence of a desire to propitiate those who had
greater opportunity for achieving success. As already been instrumental in the passage of the bill, he added:
indicated, if such a man would come forward and ap¬ “I fully appreciate the fact that those who have pro¬
peal to the suffrages of the people, he would sweep the moted this bill believe that such a rate would be fair.” •
country. But that favor is reserved only for him who What trifling with a serious matter! Those who ad¬
professes no adhesion whatever to the noxious political vocate two-cent fares do not care a tuppence whether
nostrums of the day.
In other words, what is wanted the rate pays or not. Yet we are told by one ap¬
is the genuine article—not the man who fears that his plauding critic that “the whole message is written as
conservatism may not appeal to the masses, but must an almost unconscious explanation of his own position
have a preponderating admixture of radicalism—a man on economic questions which suggests a refutation of
who hopes to gain the vote of the better element in the the recent charges of ChancellorJJay of Syracuse.”
population by holding himself out as a conservative, Refutation indeed!
and yet all of whose acts are guided by a desire to pose
It is also to be remembered that Mr. Hughes is re¬
as a champion of the masses and of those who clamor
sponsible for the recent insurance legislation in this
for the impossible.
Judged by his political record, State. He is commonly reputed to have drafted all
it does not seem to us that Governor Hughes can lay of last year’s laws on this subject.
These laws evi¬
claim to the distinction of being a conservative—a per¬ dence hasty and ill-considered action, and it is difficult
to believe that they do not also evidence unwise con¬
son whose acts are dictated by a sense of right and not
by motives of expediency. Obviously no one would cessions (so common these days)'to so-called popular
How else are we to explain the fact that
claim for Mr. Hughes and his course the least bit of sentiment.
originality. The great master in the art has been under the provisions of this law it took just six months
President Roosevelt—a man of force as well as origi¬ to complete the count of the vote cast last December
nality—and Mr. Hughes has been simply imbibing po¬ at the annual election of the trustees of the insurance
litical wisdom from that master, although he appears companies.
As every reader of the daily newspaper
to be unwilling to admit the fact.
Taking isolated knows, the whole thing degenerated into a farce.
acts in the career of Mr. Roosevelt, or quoting isolated However, the call was for drastic legislation and
passages from his speeches and utterances, it would be accordingly drastic it was made, with very little regard
possible to make out the President as an ultra-conser¬ to the consequences. The Legislature is now engaged
vative; but Mr. Roosevelt would himself he the first in amending the law in that particular so as to avoid
to deny the accuracy of such a characterization. - Sim¬ further ridicule.
But very little is being said about
ilarly we must judge Mr. Hughes by the whole of his the amending process. This is being furtively done
where the original legislation was loudly proclaimed.
acts and not by seeming exceptions to the rule.
Mr. Hughes is responsible for the Public Utili¬
Nor can it be asserted that Mr. Hughes is always
ties Bill, which embodies in its provisions more of consistent.
He considered it arbitrary for the Legis¬
the feeling of unreasoning hostility to public ser¬ lature to pass a two-cent fare bill in view of the fact
vice corporations than any measure ever enacted in the that at his instance special bodies had been created for
history of the United States. This Act gives to determining such questions. Yet on April 26 he ap¬
two public bodies, whose members hold office only dur¬ proved the bill reducing the price of gas in Albany from
ing the pleasure of the Chief Executive, absolute, unlim¬ $1 30 per one thousand cubic feet to only SI. He
ited, unchecked and unrestrained control over the affairs also last year favored the reduction in the price of gas
of the carriers, whether steam roads or street roads, in New York from SI to 80 cents, and took occasion
and also over gas and electric-light concerns.
It puts to commend some of the State legislators for their
no limit upon
the number of employees they may course in the matter, although a Gas Commission had
engage or the amount of money they may use, up. been expressly created the previous year for dealing
They are responsible to no one except the Governor. with the subject. This fixing of eighty cents as the
The two bodies will regulate not only rates of freight, price of gas in this city has just been declared confisca¬
of fare, and charges for express, for gas, for electricity, tory by a special master appointed by Judge La combe
but they will have the power to regulate nearly every¬ in the United States Circuit Court.
The Gas Com¬
thing else connected with these public service corpora¬ mission has itself the present year reduced the price of
tions—their facilities, service, etc., etc. In his veto gas in Syracuse and some other points. Gas securities
of the Two-Cent-Fare Bill last week, Mr. Hughes said until this crusade was begun were considered among the
that "‘it (the bill) plainly reflects dissatisfaction with best and most approved type of investments.
Nearly
the existing conditions and an effort to provide a every man of moderate means left a little gas stock
remedy through arbitrary action.” But, we may be for his wife and children, so that it is literally true to
permitted to ask, does the Public Utilities Bill possess say that gas securities are held by the widows and
any greater merit?
Does it not, too, “reflect dissatis¬ orphans. Mr. Hughes’s “conservatism” is simply
faction ,” and is it any the less “arbitrary” in its playing havoc with these investments.
\
<*
-
June 22
14 >9
THE CHRONICLE.
1907.]
Hughes’s veto of the two-cent similar work customary in binderies. Night work is
essential on many different papers, and periodicals,
measure is to the following effect: “If a passenger rate
of two cents a mile is just and reasonable it can be which cannot be sent to press until late at night,and
fixed (by the Commission). If it is not just and reason¬ which must be ready promptly for distribution to the
able it should not be fixed.”
In this Governor Hughes reading public the next morning. But the legislator
naively ignores last year’s experience of the Gas Com¬ has attempted to prevent women from working at
mission.' The Gas Commission had been created not night.
The law, it is proper to say, has been on the
statute
books
for a number of years, forming Sec. 77
for the purpose of examining carefully and judicially
into the question what would be a just and reasonable of Chap. 415 of the Laws of 1897, and has been amended
charge for the price of gas, but for the simple purpose from time to time. It provides “that no minor under
of reducing the price.
When, therefore, the Legisla¬ the age of eighteen years and no female shall be em¬
ture met the following January (1906) and the price ployed, permitted or suffered to work in any factory
had not yet been reduced, our Albany legislators im¬ in this State before six o’clock in the morning or after
mediately got to work. Senator Stevens, the author nine in the evening of any day.” The word “factory*”
of the Act creating the Gas Commission, in February has a very broad designation, the statutory definition of
1906 introduced a bill proposing to legislate the Com¬ it being to this effect: “The term factory when used
mission out of existence.
With this threat hanging in this chapter shall be construed to include also any
mill, workshop or other manufacturing or business
over it the Commission made an order cutting the price
One statement in Mr.
eighty cents. But the Legislature wanted no more
fooling about the subject,so to clinch the matter it
made the price eighty cents by legislative enactment.
What guaranty have we that the same thing will
not happen in the case of the Public Service Commis¬
sions just created, and in that view of what avail will
it be even if Mr. Hughes should, as every one believes
he will, appoint impartial, upright and high-minded
If they
men as members of the two Commissions.
failed to act in accordance with the notions of the legis¬
lators who have been championing the Act, how long
would they last?
Of course Mr. Hughes may have experienced a real
change of heart; 'and if henceforth he should reverse
his course there would be good reason for acclaiming
him as the coming leader, but in view of the forego¬
ing record, it isobvious that further proof will be nec¬
essary to sustain the theory that he has altered or is
getting ready to alter his views.
to
RIGHT OF WOMEN TO WORK AT NIGHT.
been
definitely settled by the decision
of the highest tribunal in the State that a statute for
bidding adult women to work in factories before six in
the morning or after nine o’clock at night is uncon¬
stitutional.
Previously we had the ruling of the lower
courts to this effect but now the Court of Appeals has
also passed on the question and has given adhesion to
the same views, and affirmed the judgment below. We
have twice before referred to this case, first when Jus¬
tice Olmsted, in the Court of Special Sessions of the
First Division of the City of New York, declared the
statute invalid, and again when the Appellate Division
of the Supreme Court in the First Department upheld
the ruling of Justice Olmsted ; but the final disposition
of the case gives new interest to the subject.
More¬
over, as it happens, Governor Hughes has just attached
his signature to a bill re-enacting some of the provisions
here declared unconstitutional, adverting in so doing
to the decision of the Court of Appeals, but taking the
ground that this feature of the bill did not affect the
validity of the rest of the measure.
As may be recalled, the case was that of the People
of the State of New York vs. David L. Williams, who
conducts a printing and bookbinding establishment
It has
now
,
employed
at labor.”
Under this provision Mr. Williams, as one
of the proprietors of the establishment referred to, was
found guilty in having employed one Katie Mead to
establishment where
one or more
persons are
work in his establishment after nine o’clock at
night
At the trial the deputy
inspector was called to prove the bare fact of employ¬
ment after prohibited hours in a factory.
The ac¬
cused offered no evidence and was thereupon found
guilty. Upon a motion in arrest of judgment, Mr.
Williams, through his counsel, contended first, that
Section 77 of the Labor Law, under which the convic¬
tion was had, is in contravention of the Fourteenth
on
certain specified dates.
Amendment of the Federal Constitution, in that it is
infringement of the privileges and immunities of the
citizens of the United States, and denies to women the
equal protection of the laws; and, second,that it con¬
travenes Article 1, Section 6, of the State Constitution,
in that it deprives a citizen of her liberty and property
an
The only plea in justifi¬
by the State was that it
was enacted to protect the comfort, welfare and safety
of the whole people, and the individual must suffer
this curtailment of his granted rights in the interest of
the common good.
In our issue of Jan. 12 last, we reviewed at length
the grounds upon which Justice Olmsted based his
without due process of law.
cation of the statute urged
conclusion that the law
was
invalid.
He took for his
guidance the decision of the United States Supreme
(Lochner vs. New York, 198 U. S. R., p. 45) in
the case where it was attempted to fix a ten-hour day
for employees of bakeries and confectionery establish¬
ments, which the Court, as will be remembered, de¬
Court
unconstitutional.
clared
In that
case
it had been
urged that it was to the interest of the State that
its population should be strong and robust, and there¬
fore any legislation which might be said to tend to
make people healthy must be valid as health laws
enacted under the police power of the State.
But
the United States Supreme Court said that if that be
arid a justification for this kind of
legislation, it would follow that the protection of the
a
valid argument
Federal
with
the
contract
Constitution
from
undue
interference
liberty of person and
freedom
the law
visionary
wherever
is
of
is
One night in January 1906 a deputy factory sought to be justified as a valid exercise of the police
inspector visited the bookbindery of Mr. Williams and power. The United States Supreme Court in that
“The Act is not within any fair meaning of
found some girls of full legal age at work engaged in case said:
their usual occupation of folding sheets and doing other the term a health law, but is an illegal interference
uptown.
[Von. lxxxtv.
THE CHRONICLE.
1460
rights of individuals, both employers and ferred by the Constitution upon the legislative
body.”
employees, to make contracts regarding labor upon
Such clear, ringing words as these at a time when the
such terms as they may think best or which they may
agree upon with the other parties to such contract. tendency is so strongly in the direction of disregarding
Statutes of the nature of the one under review, limiting Constitutional provisions, or of stretching them in
with the
of all potency and
effect, are certainly reassuring. The amendment to
the law which the Legislature has made the present
session and to which Governor Hughes gave his ap¬
proval last Saturday, covers both the provisions with
reference to the employment of women and the hours
of labor and the ages of minors.
With reference to
the latter, the amendment restricts further the time
within which minors may be employed and the num¬
ber of hours in the aggregate that they may work in
any day.
It is the view of Mr. Hughes that the un¬
constitutional part of the bill is clearly separable, so
that the remainder of the law will not be affected.
to deprive them
and intelligent men may
labor to earn a living, are mere meddlesome inter¬
ferences with the rights of the individual.” Justice
Olmsted applied the same course of reasoning to the
New York statute prohibiting the employment of
women after 9 o’clock at night or before 6 o’clock in
the morning, and accordingly declared the law un¬
constitutional. The Appellate Division took the same
view and did not feel called upon to enlarge upon the
points made by Justice Olmsted.
The opinion just handed down by the Court of
Appeals is of similar tenor. It was written by Judge
Gray. He declares that the Legislature, in the law
referred to, overstepped the limits set by the Consti¬
tution to the exercise of the power to interfere with the
rights of citizens. Under our laws, he says, men and
women now stand alike in their constitutional rights
such
discrimination
between them with respect to the liberties of person or
of contracts.
He could find nothing in the language
of the Section which suggested the purpose of pro¬
moting health, except that it might be inferred that
for a woman to work during the forbidden hours of
night would be unhealthful. If the inhibition of the
Section in question had been framed to prevent the
ten hours of work from being performed at night, or
to prolong them beyond 9 o’clock in the evening, it
might more readily be appreciated that the health of
women was the matter of legislative concern.
But
that is not the effect or the sense of the provision in
question. If that enactment was sustained, he
argues, then an adult woman, although a citizen and
entitled as such to all the rights of citizenship under
our laws, may not be employed nor contract to work
in any factory for any period of time, no matter how
short, if it is within the prohibited hours; and this too
without any regard to the healthfulness of the em¬
ployment. It is proper to note here that the deputy
factory inspector in his testimony had said with
reference to the Williams establishment that “it is the
best factory of the kind in New York City.”
Accordingly Judge Gray, voicing the opinion of the
Court of Appeals, reaches the conclusion that such
legislation cannot and should not be upheld as a proper
exercise of the police power, being certainly discrimi¬
native against female citizens in denying to them
equal rights with men in the same pursuit. He then
goes on as follows:
called its attention to the limit upon
the hours in which grown
and there is
no
warrant for making any
“The courts have gone very far in upholding legis¬
lative enactments Jframed clearly for the welfare,
of the community, and that a
in the exercise of the police power of the
State should be conceded, I do not deny. But when
it is sought under the guise of a labor law, arbitrarily
asdiere, to prevent an adult female citizen from work¬
ing at any time of the day that suits her, I think it is
time to call a halt. It arbitrarily deprives citizens of
their right to contract with each other. The tendency
comfort and health
wide range
of
legislatures,in the form of regulatory measures, to
interfere with the lawful pursuits of citizens is becoming
a marked one in this country, and it behooves the
firmly and fearlessly to interpose the barriers
judgment when invoked to protest against
legislative Acts plainly transcending the powers con¬
courts
of their
a
way as
As the Governor has
had considerable experience as a
we are not inclined to dispute his statement.
And yet it seems to us the better course would
been to have returned the bill to the Legislature,
lawyer,
have
its
powers as
just set out in the opinion and decision of the State’s
highest court, and asked it to eliminate the unconsti¬
tutional part of the law. It is not a dignified pro¬
ceeding to put new laws upon the statute books when
we are apprised in advance that a part, if not the whole,
of the law is sure to be declared unconstitutional.
The Legislature is still in session, wrangling with
reference to a new apportionment of Assembly and
Senatorial districts, and could easily pass a new bill
free from all objections.
THE LIFE
INSURANCE LAWS AS ALREADY
TESTED.
Precisely six months after the closing of the polls
the day of election, and about two months after
the conclusion of the count in case of the Mutual,
announcement is made of the close of the contest for
control in the New York Life.
The administration
ticket received a vote ranging from 236,999 to about
236,000, one name receiving, however, only 136,142;
the leading name on the opposition ticket received
100,782, the others ranging from 98,719 to 95,470.
Two of the men chosen have died, and one declines
to serve, so that three vacancies are to be filled.
The
retiring board made admirable nominations, and noth¬
ing need be said of the new board further than that it
on
highest character. On nomination by Mr.
Orr, who took the presidency only temporarily and
with the expressed desire that a practical insurance
man should succeed, Vice-President Darwin P. Kings¬
ley has been unanimously chosen President. Mr.
Kingsley is a Vermonter, now just past 50, and for
nearly twenty years has been with the company,
progressively 'filling many positions. His selection
was naturally indicated, and it is received by the press
with hearty commendation.
It is satisfactory to
have this matter concluded, and the conclusion itself
is one upon which management and policyholders
are to be congratulated.
The outcome in both companies must be deemed
a result of self-government by the real policyholders.
The utmost liberty was given to opposition, for every
group of a hundred was empowered to put up a ticket;
yet no spontaneous movement appeared. The so-
is of the
June 22
1461
THE CHRONICLE.
1907.1
...
,
-
■■
; ; —~
■ BE
Policy holders’ Committee, not¬ thing they had to communicate, and the rejected
amendment (or some other simple device) would also
withstanding its pretentious title, was in no sense
have enabled a direct communication by mail, with¬
representative. As we pointed out at the time, the
out any such publication of addresses.
sole question before the electors was one of persons,
How obnoxious an invasion of privacy such a publi¬
not of policy; they had only to decide which of two or
more sets of men they preferred to trust.
Therefore cation is, how objectionable for business reasons, and
how vexatiously policyholders are exposed by it to
a genuine policyholders’ movement would have named
all sorts of annoying circulars and the like, we need
its ticket and would then have left each voter to quietly
not urge.
But the mischief extends to that inter¬
make his own decision, since the widest possible pub¬
ference with the stability of policies which is called
licity had already been given to all the facts in the
“twisting,” and here is an example of still another
case; but a movement from without, seeking control,
would naturally perceive that its only hope of success form of evil; for some years past certain parties have
called International
That was the course been seeking out holders of “deferred dividend” poli¬
taken. The person behind the movement not only cies, namely the kind (now prohibited) which have
a fixed term to run and defer settlement of so-called
sent fresh complaints to the Department every few
days and made charges of misconduct against the “profits” till the end of the term. These persons offer
to buy the policies, paying therefor more than the cash
company administrations, which were utterly unre¬
strained and incredible, but raised the cry of fraud and which the companies will pay now. They can well do
kept that up during the progress of the count, aban¬ this, because there is a profit by carrying the policy
to maturity, and if the insured died meanwhile, the
doning it only a few weeks ago.
So long as this opera tion
It was even asserted over and over that the admin¬ gain would be still greater.
istration tickets and all effort in their behalf were sub¬ was confined to policies which the holders, for any
versive of the intent of the law, which was said to be ordinary reason, were determined to surrender, the
holders gained something, and the profit of the specu¬
an entire change in the personnel of administration.
But since
Had that been the intent, the law would have made lator did no moneyed injury to anybody.
the old trustees ineligible, which is exactly what the agitation began, the speculator gets the published
most violent agitators openly sought.
On the com addresses, seeks out the holder, makes his offer, and
the fact that it is larger than the company will pay
trary, the law assumed that the policyholders had not
heretofore been allowed to express their will. It naturally suggests to him that the much-denounced
therefore deposed the existing boards entirely, but left company is not treating him honestly; so he is tempted
it to the policyholders to decide whether they would to sell a policy which otherwise he might not have
restore any or all of them.
The boards were expressly thought of disturbing. One illustrative case is. told
of a holder who was just on the point of closing with
required to nominate a ticket; and, in order to make
the offer, when he discovered that the speculator
liberty of the voters more complete and to insure
would have made a profit of $3,000, which he could
intelligent decision between old men and new men,
the ticket put up by the boards was to be designated have saved (and of course decided to save) for himself
the “administration” ticket.
Whatever else be said by paying the two remaining premiums, and that, if
of the law, it could not have been better framed, in the payment was difficult, he could borrowthe money
How much of this under¬
the provisions for nominating tickets, for the purpose from the company at 5%.
surface business has been done we are unable to say;
of ensuring an open and fair election.
But this is the utmost which can be said for it. but the Mutual recently sent to its policyholders a
Its assumption that the policyholders had been dis¬ direct warning against it, and it illustrates the
franchised hitherto was utterly unfounded. Its clean vicious nature of the publication of policyholders
lay in keeping up excitement.
of the boards and ordering a complete new elec¬
tion was just what we vainly pointed out while the
subject was before the Legislature; it was contrary
to long and universal custom in corporate matters,
highly dangerous in its nature, and in this case an in¬
vitation to all the world to enter into a struggle for
control of nearly a billion of assets. Attempts at this
control have been quietly made in the past, attracting
no public attention; this forcible declaration by the
law of a free-for-all contest, especially after a term of
such exaggerated agitation, is not relieved of its repre¬
hensible character by the fortunate fact that the selfseeking plan of outsiders proved unsuccessful.
The publication of lists of policyholders is to be con¬
sweep
demned in every aspect.
As
we
also pointed
addresses.
them, we wish to suggest
for serious consideration at this point two questions.
First, more than five-sixths of the insurance outstand¬
ing in the companies of this State is owned outside of
the New York jurisdiction, considerable of it being
Without dwelling upon
under foreign
State assume
governments; therefore, does not
to push its radical intervention too
this
far?
Second, these companies have no grant from the State.
They are not utilities; they owe no public duty, and
perform no public service. They are not even “busi¬
ness” corporations in any sense. They are merely
associations of persons who come together for a strictly
personal and selfish purpose of their own, contem¬
out plating nobody outside. They are as private as a
performed no service cemetery association, for example. Their vast size
whatever, even for the purposes of the opposition complicates the conditions, admittedly, but it does not
movement.
An amendment was passed by the change the essence, nor is that changed,because the
Senate (and then abandoned because of a storm technical corporate form is necessary. Now, by what
directed upon it) which would have given the persons right in reason and morals does a legislature assume to
who managed the opposition movement every assist¬ forcibly enter into a private concern, abolish a board
ance which these lists gave them.
Since all the news¬ of control and an order of election which the owners
of the fund had established, upset its rules of pro¬
papers were open to them without stint, they could
have reached in that manner every voter with every- cedure and its modes of investment, and throwT away
vainly at the time, it could have
[VOL.
THE CHRONICLE.
1462
LXXXIY.
In the gross the increase reaches the very large figure
forcibly, in a vain and mischievous scheme of a new
election, an amount of private funds which has been of $27,021,029. The fact that this gain, however, has
estimated as high as a million, and is at least very large, yielded an increase of only $8,882,437 in the net is
without an atom of advantage to any legitimate highly significant. It shows that the additions to
interest?
expenses during the month reached over $18,000,000
The legal competency of all this we do not discuss, and indicates that the same conditions that served to
but we cannot refrain from saying that, while the cir¬ swell the expense accounts in the preceding months—
cumstances made it inexpedient to raise the issue in the such as the higher cost of labor and of materials and
courts, we have felt that it is very doubtful whether supplies and The other things entering into the operat¬
the new laws would pass judicial inquiry at several ing accounts of the railroads—are still in force. This
is of course the feature in the affairs of the railroads
points.
They have now been a year in enactment, and about that is giving chief concern along with the action of
six months in full effect, and the elections scheme has legislative bodies and Government officials in raising
had its trial, so that it is possible to apply a beginning the taxes of the railroads and in other ways adding to
of test to their practical value.
They set legislatures in operating cost. That there was a gain in net during
other States going, naturally, in the bad course of April is due alone to the fact that the expansion in the
following a bad example. Fortunately, this did not go gross was of extraordinary proportions. And this
far beyond keeping up an agitation which has been the bears out what we have said on previous occasions,
cause of a destructive sacrifice of insurance by innocent
namely that as the greater part of the augmentation
holders who will suffer, silently and unknown, for the in expenses is more or less constant—running on, we
faults of persons who will not recognize the Wrong of mean, from month to month—and is of large ex¬
needlessly disturbing the feeling of confidence. The tent, it can be overcome only when the gains in
worst legislation provoked by this example is the new gross are of very great magnitude such as happened
investment law of Texas, already commented on by us. in April.
The New York Life has explained the matter to its
Januari/ 1 to April 30.
April.
(91 roads.)
(91 roads.)
Texas policyholders direct, in a circular announcing its
1907.
|
1900.
Inc. or Dec. !
1907.
j
1906.
i Inc■ or Dec.
withdrawal from that State, and a Philadelphia com¬
I
I
$
$
$
$
)
$
g
Gr.
142,884,383 115,863,354:-!-27,021,029540,194.088,481,545,931 +58.648,757
pany has put the case still more pointedly by asking Op.exp. 100.302.831j 82,224,242 +18.138,592 389.400,043 337,580.757 +51,879,286
its Texas policyholders whether they are willing to be Nctearn 42,521,549; 33,039,112; +8,882,437 150.728,045 14.3,959,174j +0,709,471
charged the extra which the law puts on as special tax.
We need hardly tell the reader that very exceptional
They must bear it, willingly or unwillingly, knowingly
or unknowingly;
but it is exactly right to bring the circumstances account for the extent of the gain in the
thing home in this way to the persons who are affected gross during April. Comparison is with a period last
and who must deal with their own legislators.
This year when the roads had lost a good part of their
is the referendum principle, which has been coming into coal traffic because of the suspension of work at the
The anthracite roads lost practically the
life insurance administration in the last few years, none coal mines.
whole of their coal traffic,as the anthracite mines were
too soon, and ought to become settled practice.
These vicious new laws and the vicious extension idle throughout the whole month of April last year.
of State regulation must be included as a part of the The bituminous coal roads likewise lost „large portions
emotional legislation of the last five years into which of their coal tonnage and this was a circumstance that
we are more and more swiftly and thoughtlessly hur¬
applied to practically all the roads in the Middle and
ried. The custom is getting to be to pass a lot of the Middle Western and to a good many in the South¬
undigested laws first, and then think about them after¬ western States, though suspension was not complete
wards. The thinking ought to precede, but it is better in any one State, since some of the mines were able to
to think out of time than not think at all, and we may keep operations going by granting at the start the 1903
better understand clearly that the thinking is bound to wage scale which subsequently was granted at all the
come, timely or untimely.
Probably the courts will mines. We have a capital illustration of the part
do some of it in their cool and deliberate way, but we played by the return to normal conditions in the coal
commend the reader to that kind of thinking for him¬ business this year in swelling earnings in the fact that
self, without awaiting and relying on the protective the Pennsylvania Railroad, the largest coal-carrving
road in the country, sustained a decrease in its gross
action of the judiciary.
earnings last year on its lines east of Pittsburgh and
|
.
earn
RAILROAD
GROSS
AND
NET EARNINGS FOR
APRIL.
Our
April statement of railroad gross and net earn¬
ings bears out expectations in showing greatly im¬
proved results as compared with the preceding months
of the current calendar year.
The gain in the gross
earnings is far in excess of that of the earlier months
and for the first time this year we have a monthly
return showing a substantial increase in net. .In
January and February, it will be remembered, there
were actual losses in the net, and in March, although
there was a gain, it was of insignificant extent—only
nominal in amount. Our present April statement, on
the other hand, records an increase in net in the sum
of $8,882,437, or 26.41%.
Erie in amount of
$540,100, and this year reports an
earnings for the same part of the system in
the sum of no less than $3,121,200,
The loss on the
Eastern lines last year was offset by a gain of $508,300
increase in
t he
Western
reducing the loss for the combined
lines to only $31,800.
The present year the com¬
bined lines show a gain in the prodigious figure of
$4,418,600.
There were some other special favoring circum¬
stances the present year.
April last year contained
five Sundays.
This year it had only foyr. It
follows that there was one more working day in
on
the month in 1907 than there had been in 1906.
Fur¬
thermore, Western roads had the advantage of a
larger grain movement and in some instances likewise
JrorE 22
larger live-stock movement. It is proper to say,
though, that the Southern roads in many instances
of
1463
THE CHRONICLE.
1907.]
had
smaller cotton movement.
a
Notwithstanding the diminution in the coal traffic
roads, as a whole, in April
falling off in either gross or
net earnings, the prosperity and activity of general
trade having served to offset, and more than offset,
last year, United States
1906 did not show any
Our table at that time
the loss in the coal traffic.
in the
recorded $5,399,836 increase
gross
earnings,
or
5.16%, and an increase of $1,411,064, or 4.67% in
the net earnings.
This year’s large improvement is
all the more noteworthy because of this improvement
*n 1906.
In the previous years, too, there were larger
or smaller gains, with the exception of 1904, as may
be seen from the following.
Mel Earnings.
Gross Earnings.
Year
Given.
Increase or
Decrease.
Year
Year
Given.
Preceding.
S
14.4S4 ,6261
15,419 ,768!
%
April
+ S41.706
+ 46.289
50,608 ,569 49 ,766,803
54,751 .130; 54 ,704,841!
63,443 .166 55 .427,918!
1896
1897
1898
1899
1900
1901
1902
,
Year
Increase or
,
Preceding. j
Decrease.
S
14.657.119
—
14,974.156
15.695.627
+ 8,015,248 18.740 ,860
68,357 ,884
64 ,888,200 + 3.469,684' 20,458 ,S33| 19,119,604
78,077 ,472i 68 ,313.028, + 9,764,444 23,300 ,0.34; 20,416,810
94,439 ,3771 84 ,351,412, +10,107,965' 29,511 .141! 24,975,196
100,562 ,300: 91 ,394,164! + 9,168.136 31,260 ,129| 27.891.119
1903 107.517 ,3101 94 ,172,420 + 13,344,890 33.892 ,999 29.788,830
1904
98,798 ,874 100 ,535.597; —1,736.723! 28,552 ,275| 31,092,626
1905 111,860 ,721 104 ,474,716, + 7.386.005 31,958 .5031 30,192.485
1906 109,998 ,401 104 ,598,565' + 5,399,836! 31,548, 660 30,137,596
33,639,112
1907 142,884, 383 115 ,863,354 + 27,021,029 42,521, 549
Ja n 1 to A aril 30
1896 201.819,130 190,406,459' +11.352.671 58,892,179 54,370.245
1897 ,231,425.801:234.554,853 —3,129.052 62.323,302 60,381.592
1898 ,248,904.241
76,303,632 63.467,681
1899 265,538,242-254,634,357; + 10.903-.8S5 78,996,134 78.03S.400
1900 1308,941,0011264,684,616,
96,220,034 78,829.683
1901 372,454.171 336,559,0071 + 35,895,164! 120.750,379 104,321,860!
1902 386,032,507 301,929,975 +24.102,532 120,314,547 114,842.047:
1903 1408,133,197 360,998,8111 +47,134,386,119,980,963 110,661,936!
1904 ,378,234,461 381,897.317j —3,662,856 97,959.318 112.492,578!
1905 '425.017,295+03,702.338 +21,314,957 114,362,802 107,520,2981
172,493
+ 445.612
+ 3,045,233
+1,339,229
+ 2,883.224
+ 4,535,945
+ 3.369.010
+ 4,104,169
—2,540.351
+ 1.766,018
+ 1,411,064
+ 8,882,437
NET EARNINGS IN APRIL.
PRINCIPAL CHANGES IN
a
Increases
Increases.
Philadelphia A Reading.r$l ,067,798
Lehigh Valley
907,605
Central of New Jersey
800,310
Atchison Topeka A S Fe__
743,670
1/580,400
Pennsylvania (2 roads)..
Erie
559,202
.
i
Louisville A Nashville.
Colorado A Southern
_
St. Louis Southwestern
Wheeling A Lake Erie
Minn. St. Paul A S. S. M._
i Norfolk A Western
St. I,ouls A San Francisco
Missouri Pac syst (2 rds)
509.398 Chicago Great Western
Rock Island System
Buffalo Roch A Pitts
N. Y. Ontario A Western.
Baltimore A Ohio
332,957
Kansas City
190,060
Toledo A Ohio Central
Southern Railway
Denver A Rio Grande..
162,115
125,222
121,415
120.948
119,441
115,791
112,303
109,900
104,128
328,322
230.632
201,302
Southern
Chicago A Alton
Wabash
Illinois Central.
Northern Central.
Missouri Kansas A Texas.
These
46,366
38,445
38,124
35,203
.
.$8,836,048
Total (40 roads).
166,047
Hocking Valley
Union Pacific
x
Mobile A Ohio...
Wisconsin Central
Grand Trunk (4 roads)
Detroit A Mackinac
Toledo St. Louis A West.
396,035
-.
100,447
$85,831
78,702
75,040
64,044
62,379
57,108
49,358
..
ID 6CT6QSCS.
$118,900
71,240
West Jersey A SeaShore..
Central of Georgia
i Yazoo A Mississippi Valley
;
58,317
47,557
Georgia RR
32,700
Phila. Balt. A Washington
Total (5
figures are for the Railroad Company,
roads)
$328,714
the Coal A Iron Company
reports an Increase of $507,520.
V These figures cover lines directly operated east and west of
and Erie.
The net on Eastern lines Increased $410,300, and
Western lines Increased $170,100.
Pittsburgh
the net on
arranged in groups, the gains are very note¬
worthy, both in the case of the gross and the net,
and there is no group that has failed to record an im¬
provement in either. Very naturally the anthracite
coal roads stand out with particular prominence,(as
these suffered enormous losses last year by reason of
the suspension of operations at the mines. The gain
for that group reaches 69% in the gross and 268%
But several of the other groups, it will
in the net.
be observed, also show very largej pe rcentages
of
gain.
When
.
217.393.112i+31,511,129
+44,256,385!
—
14,533,260
+ 6,842,504
457,709,639 396,741,443 +00,968,196:136,945.928 107,002,765; + 29,943,163
540,194,688,481.545.931 +58.64S.757 150,728,645 143,959,174 + 6.769.471
1906
1907
.•
i
m
+ 4,521,934
+ 1,941,770
+ 12,835,951
+ 957,734
+ 17,390,351
+ 16,428.519
+ 5,472,500
+ 9,319.027
31,724,532
6.114,372
4,477.605
7.519,191
14,472,063
31,572,911
19,982,680
10,876,232
4.137,383
1,537,440
2,637,174
5,929,981
12,139,245
142.884.383 115,863,354
42,521,549
4,913,850
2,017,762
Trunk L (S). 144,341,826 132,772,819
A nth Coal (5)
37,533,524 32,630,930
19,110,643
E’stAMId(14) 21,367,334
MldWest (14) 35,017,561 32.674,945
NWANP (12) 59,870,621 53.563.559
SW ASP (16) 153,258,628 128.483,464
82,309,571
Southern (22) 88,805.194
35,917,222
Trunk L (8).
Anth Coal (5)
E’st AMld(14)
MldWest (14)
NWANP (12)
SW A SP (16)
Southern (22)
Total (91).
189S; 122 in 1899; 125 in 1900; 127 in 1901; 117 in
in 1905; 88 in 1906 and 91 in 1907.
Neither the
1A02; 108 in 1903; 95 in 1904; 96
sfexican roads nor
operations of the anthracite coal roads a,re included in any
the coal-mining
of these totals.
Mexican
(4).
Jan. 1 to .4
38,985,500
10,386,366
5,851,148
9,072,792
17,044,883
39,174,008
22,369,686
5,851,383
1nil 30—
Inc.(. + )orDec.{—).
1906.
]
$
$
%
9,381,092 + 1,495,140 15.94
268.05
1,124,143 + 3.013,240
+ 385,864 33.51
1,151,576
+ 812,859 44.56
1.824,315
6.66
+ 370,251
5,559,730
9,550,045 + 2,589,200 27.11
4.27
+ 215.883
5,048,211
$
S
$
April.
1907.
1906.
1907.
Group.
i
Note.—Includes for April 129 roads in 1896: 127 In 1897; 134 in 1898: 124 in 1899:
127 in 1900; 127 in 1901: 120 in 1902; 109 In 1903; 96 in 1904; 96 in 1905; 91 in 1900
and 91 in 1907.
And from Jan. 1 to April 30, 127 roads in 1896: 122 in 1897; 132 in
Net Earnings.
Gross Earnings.
Section or
5,264,094
33,639,112 + 8,882,437
26.41
+180,343
9.SI
1,837,419
—702,224
36,619,446
10,580,790 + 2,412,966
—701.355
4.987.488
+ 422,017
9.630.488
19,449,838
—436,176
12,993,756
4,286,133
10,052,505
19,013,662
46,902,021
21.563,346
1.92
22.81
14.06
4.38
2.24
21.15
10.07
38,711,992 + 8,1 IK),029
roads, the list of gains
23.978.132 —2,414,786
is a noteworthy one, while the losses are inconsequen¬
4.70
Total (91). 540,194,688! 481,545,931 150,728.645 143,958,174 + 6,770.471
tial.
Indeed, in the gross earnings, there is no Mexican (4)
6.98
+ 482,970
22,122,325] 19,438,829] 7,404,144 6,921,174
single loss for as much as $30,000. In the net, there
In addition to the roads supplying returns of gross
are five such losses, owing to the part played by aug¬
mented expenses in the affairs of the roads. This and net, there are some which furnish exhibits only
In the following we bring together
feature of increased expenditures is strikingly reflected as to the gross.
in the case of the Pennsylvania Railroad,which, with these roads and add their earnings to the total of the
$4,418,600 improvement in the gross, is able to record gross in the foregoing. INC, GROSS BUT NO! NET.
only $580,400 improvement in the net. The changes
Increase. Decrease.
1906.
1907.
!
A pril.
for the separate roads in both gross and net are set$
$
$
$
!
In the
case
of the separate
.
•
in the
out
following:
PRINCIPAL CHANGES IN
GROSS EARNINGS
IN APRIL.
Increases.
Increases.
.
Mobile A Ohio
Colorado & Southern
Nashville Chatt. A St. L_
Denver A Rio Grande
Pacific Coast
St. Louis Southwestern
.
Long Island..
Chicago Great Western.
...
Canadlati^Pacific
Baltimore A Ohio
Missouri Pac syst (2 rds>.
Grand (Trunk Syst (4 rds).
Illinois Central
Louisville A Nashville
Missouri Kansas A Texa*.
Buffalo Rochester A Pitts.
Southern Railway.
Northern Central
N. Y. Ontario & Western.
.
Wabash....
Atlantic Cea d Line
Minn. St. Paul & S. S. M..
Norfolk & Western
Hocking Valley
.
Chicago A Alton
,
Chesapeake & Ohio.
Toledo A Ohio Central.
Phila. Balt. & Washington
..
195.722
$183,898
178.408
171 .322
165,860
160,984
152,245
\\ heeling A Lake Erie
Kansas City Southern
Pennsylvania (2 roads). .1/54,418,600
1,682,477
Atchison.Topeka & S Fe
Southern" Pacific
1,671,572
Philadelphia A Reading.. rrl ,536,225
Lehigh Valley.
1 ,252,437
Rock Island
1,229,844
St. Louis & San Francisco 1,192,169
Erie
1,154,143
Central of New Jersey
1,028,228
UnlontPaellie
948,183
Western
900,561
Maryland
_
122.298
99,860
..
_
802,937 ; N. V. Susquehanna A V.
625,204 Wiseonsin Central.
568,407 Buffalo A Susquehanna
507,374 Kanawha A Michigan..
502.037 Central of Georgia-.
486,256 Bangor & Aroostook.
445,990 Alabama Great Southern.
412,395 Atlanta Blrm A Atlantic.
378,500 Gulf A Ship Island
364,486 Southern Indiana
316,8v81 Cln New Orl A Texas Pac.
284,947 Texas Central..
276.726 Duluth So Shore A Atlan.
272,777 Minneapolis A St Louis—
228.088 Georgia Southern A FIa._
225,581 Rlchm Freds’g A Potomac
..
-
..
.
1
203,750
203.128
200,300
Evansville A Terre Haute.
Total (63 roads)
97,331
94.480
90.618
82.105
70,219
66.138
63,179
54,680
49.840
46.824
44,943
42,650
41.864
41.231
39,026
36,091
31 ,637
31 ,088
30.807
26,805,851
x These figures are for the Railroad Company;
the Coal A Iron Company
reports an Increase of $3,046,814.
V These figures cover the lines directly operated east and west of Pitts
burgh and Erie.
The gross on Eastern lines increased $3,121,200 and the
gross
on
Western lines Increased $1,297,400.
Previously reported (91 rds.).
Alaharna New Orl A Tex Pae.
New Orleans A Nor Eastern
Alabama A Vicksburg
Vicksburg Shrcve A Pacific
Chattanooga Southern
Chicago Indiana A Southern.
Chicago Milwaukee A St Paul
Chicago A Northwestern
Chic St Paul .Minn A Ohio.
Cincinnati Northern.
Cleve Cln Chic A St Louis
Peoria A Eastern
Detroit Toledo A Irontpn
Great Northern
Montana Central
...
International A Great NorthLake Erie A Western...
Lake Shore A Michigan South
Macon A Birmingham
Michigan Central
N Y Central A Hudson River.
N V Chicago A St Louis..
_
..
42,8£4,383 115,863,354 27 >21029,
719
139,480
143,367
14,933
265.887
4,995,664
5 ,4 1 0,595
1 .133,144
88,327
2.158.884
223,232
331 ,963
4,688.548
235,050
617,000
402,123
3,598.636
10.847
Pittsburgh A Lake Erie
2,367.877
8,039,260
925,154
6,329,375
1 .163,836
Rutland
Sierra Hallway
Texas A Pacific
Toronto Hamilton A
1,324,953
80,578
—
Northern Pacific
...—
Buffalo-
Total (118 roads)
Net Increase (21.45%/
277.816
271
231 .189
34,347
1 24
121
,058
,387
10,718
187.206
4,343.801
5,148 018
956,842
81 ,352
1
.816,526
J
3.374.4 35
12,1 93
15.422
4,215
78,681
651,863
262,577
176,302
6.975
342,358
3. 169
44,611
742,061
7,980
1 22.000
2.700
224,201
1
325.408
2,042.469
6,687,084 1,352,176
121 .199
803,055
5,001 ,557 1 ,327,818
40.716
1,123,120
43,493
207.696
3,599
30,748
286,801
1 ,038,152
61 ,146
19,4 32
188,130,451 154,894.748 ;33246315
...
—
o. 097
2! ,980
226,401
287,352
3,945,887
227,070
495,000
399,423
...
...
346
...
10 612
!33235703
month is brought
ap to $33,235,703, or 21.45%.
Last year, in this
month, our final table made up in the same way re¬
corded $8,679,762 gain, or 6.78%.
In this way
the final increase for the
[VOL.
THE CHRONICLE
1464
LXXXIV
—The Colonial Bank of this city has
ITEMS
ABOUT£BANKS,(BANKERS AND TRUST CO’S.
—No sales of bank or trust company stocks have been
made this week either at the Stock Exchange or at auction.
Bid and asked quotations for New York and Brooklyn bank
and trust company stocks are published weekly in the “Chron¬
icle,” and will be found to-day on pages 1470 and 1471.
—The State Treasurer’s request for higher rates of interest
from the banks after July 1 for deposits of N. Y. State funds
is being quite generally agreed to.
Out of 250 institutions
throughout the State which have been notified of the change,
200 are said to have expressed assent to the increased rate,
some even asking for additional money at the higher figure.
The rate is to be raised from 2% to 2^%.
The proposed
change was referred to in this department May 18.
—Governor Hughes on Monday signed Senator McManus’s
bill which provides that when the State Superintendent of
Banking shall take possession of a bank or individual banker’s
property, he shall give notice thereof to all banks, trust
companies, associations and individuals holding any assets
or individual banker, which shall act as a bar
against such holders of the assets securing a lien against any
of said bank
of the assets of the embarrassed bank.
—In the Massachusetts Senate
„
sjsasduiia.-.
the 14th inst. it
on
voted to refer to the next General Court the bill
for
a
tax of two cents
of $100
or
adverted to in this
providing
transfers of stock of the face value
on
fraction thereof.
a
was
The
proposed
measure
was
department May 4.
city has decided to abandon
practice of clearing through the Bank of the Manhattan
Company after July 1, and will thenceforth clear its checks
the
its
own
The directors of the Riverside Bank
counters.
moved to this course,
owing to the fact that its down¬
town accounts were not sufficiently large to warrant a con¬
tinuance of the present practice.
were
—Charles H. Stout resigned the past week as a Vice-Presi¬
dent of the
Liberty National Bank of this city to become
Vice-President of the Manhattan Trust Company, to which
post lie was elected on Wednesday. The changes will be¬
come effective July
1. He will continue, however, to be
identified with the Liberty as a member of its executive
committee, as well as a director. Mr. Stout was Cashier
and later Vice-President of the National
public before its
Bank of the
with the First National Bank.
merger
the consolidation he became
one
Re¬
After
of the active Vice-Presidents
of the
First, and only resigned this office to accept the vicepresidency of the Liberty.
Mr. Stout has had a wide banking experience, and every
institution
with
which
he
has
ever
been
profited immensely from such experience.
the Manhattan Trust Co.
means
ential connections
are
also
sure
connected
has
His entry into
that this feature of that
institution’s business is to be actively
developed. His influ¬
advantage to the
to be of
institution.
since the close of the annual
meeting of the Texas Bankers’
Association at
Corpus Christi on May 30, reached New York
last.
Tuesday
They arrived from Boston on Charles W.
Morse’s
new
steamer,
North America.
as
the guests of the National Bank of
Upon their arrival at Pier 14, East River,
they
were met by representatives of the Hanover, Oriental,
Park and Seaboard national banks and given an auto trip
through the city, later proceeding by boat to Dreamland,
Coney Island, where luncheon was served. After visiting
the various attractions, they were dined at Luna Park and
shown its various entertainments, returning to the city at
midnight. On Wednesday, as the guests of the National
City Bank, the visitors witnessed the performance of the
“Red Mill” at the Knickerbocker Theatre, after which a
banquet was served at the Cafe des Ambassadeurs. Thurs¬
day morning the Phenix National Bank gave a breakfast at
the Waldorf-Astoria, while Thursday evening the Mercantile
at
National acted
at
as
host at
an
elaborate “beef-steak dinner”
Shanley’s Times Square restaurant, following which there
was a theatre
party at the Casino given by the Consolidated
National Bank.
The bankers left for Philadelphia at mid¬
night Thursday.
Washington Trust Company of this
city have elected to their board George Gray Ward, VicePresident of the Commercial Cable Company and of the Postal
Telegraph Cable Company.
Mr. Ward replaces the
late
Charles F. Cutler.
—Frederick
T.
Haskell,
Vice-President of the Illinois
Trust & Savings Bank of Chicago, has been elected to succeed
the late James H. Eckels on the board of the Bankers’ Trust
Company of this city.
—John H. Davis has
Assistant Cashier of
city on account of illhealth.
The following new Assistant Cashiers have been ap¬
pointed: L. N. De Vausney, J. C. Emory and O. M. Jeffords.
resigned
as an
the Seaboard National Bank of this
—A
special dividend of 150% has been declared by the
the earnings for the
year 1906, payable July 1.
The usual quarterly dividend
of 25% will be paid at the same time.
Similar large distri¬
butions have been made in the past, 100% in July 1903,
when the earnings for several years previous had been un¬
usual and 120% in July 1905.
The capital of the bank is
Fifth Avenue Bank of this city out of
$100,000.
have
Nash
Exchange Bank of this city
appointed Thomas Nash an Assistant Cashier. Mr.
has been connected with the bank for a quarter of a
century.
—The
proposition to increase the capital of the New York
County National Bank of this city from $200,000 to $500,000
was ratified by the stockholders oil the 18th inst.
A special
equalizing dividend of 150%, to be declared out of the sur¬
plus fund, will be used as payment for the new stock.
—Archibald
Bank of this
died
on
Turner, President of the Franklin Savings
city, and a director of the Lincoln Trust Company,
the 18th inst.
—The directors of the Bank of America of this city have
again increased the semi-annual dividend, declaring 13%,
payable July 1. The semi-annual distribution in Jan. 1907
was 12%.
In July 1906 11% was paid and previously 10%,
at each half-yearly period.
—The Chase National Bank of this city has declared a
semi-annual dividend of 3%, payable July 1.
This is the
first dividend on the enlarged capital.
The directors in
December last increased the capital from $1,000,000 to
$5,000,000 by the declaration of a 400% dividend. The
payments on the old capital were 10% Jan. 1907 and July
1906, and 6% each semi-annual period previously back to
1904.
—The Yorkville Bank of this
city has declared a semi¬
8%, payable July 1, placing the stock
on a 16% per annum basis.
The last two semi-annual dis¬
tributions were 6% each, previous to which 5% was the halfyearly rate.
—Oliver M. Dennett, the accomplice of William O. Doug¬
las, the defaulting Assistant Loan Clerk of the Trust Com¬
pany of America of this city, pleaded guilty on Wednesday
to the charges of larceny on which he was recently indicted.
—The second dividend declared by the Union Exchange
Bank of this city and to be paid July 1 was increased to 5%,
the initial distribution having been 2J^% in December 1906.
The institution began business in 1903.
annual dividend of
—The Texas bankers, their wives and daughters, to the
number of about 200, who have been on a sight-seeing tour
on
—The directors of the
—The directors of the Corn
—The Riverside Bank of this
over
declared a semi¬
10%, payable July 1, which is an increase
of 2% over the last semi-annual payment made last January.
—Lee Shubert, the theatrical manager, has been elected
a director of the Mutual Bank, at Broadway and 33rd Street,
this city.
annual dividend of
—The
suspension of Frank W. Duryea, floor member of the
Duryea & Co., 20 Broad Street, was announced on the
New York Stock Exchange on Wednesday.
The firm,
which, it is said, is in no way affected by Mr. Duryea’s sus¬
pension, has been dissolved and reorganized under the name
of Duryea, Tappin & Co.—two of the former partners, Harry
H. Duryea and Fred S. Battershall, and Lindsley Tappin,
a member of the New York Stock
Exchange, forming the
new co-partnership.
The reorganization is understood to
have been contemplated before the announcement of the sus¬
pension; indeed, arrangements had already been made, it is
stated, for the new firm to begin business July 1. It is re¬
ported that the difficulties of the suspended partner arose
firm of
June 22
through his inability to realize on real estate investments,
rather than
of the directors of the People's Trust
Wednesday, Charles A. Boody
unanimously elected President of the institution to
Company of Brookyn
was
on
Mr. Boody, who is a
ex-Mayor Boody of Brooklyn, has been connected
with the company since its organization in 1889.
Starting
as bookkeeper he has steadily advanced, becoming Assistant
Secretary in 1891, and in 1903 succeeding Mr. Johnson as
Secretary. Mr. Boody is replaced in this office by Charles
L. Schenck, heretofore an Assistant Secretary.
succeed the late Edward Johnson.
son
of
Brooklyn has declared a semi¬
4%, payable July 1, increasing the rate
—The North Side Bank of
annual dividend of
to 8%, 6% having been the amount previously
paid since 1895, when the first dividend was made.
per annum
Appleyard, whose suspension from the Phila¬
delphia Stock Exchange was reported in this department
last Saturday, failed to make the $40,000 payment to Re¬
—Arthur E.
ceiver Wheeler of the German Bank of Buffalo in settlement
of his civil liabilities to the bank.
The money was due a
week ago.
Spalding was elected President of
tional Tradesmen's Bank of New Haven, Conn., on
—Warren A.
the Na¬
the 13th
inst., to succeed William T. Fields, resigned. The institu¬
tion in its latest statement (May 20) makes an excellent
showing. Its combined capital and surplus is $618,544—
$300,000 representing capital—and the bank holds third
place among the city's financial institutions in its ratio of
surplus and profits to capital; the deposits are $1,280,462
and the total resources stand at $2,181,274.
During the
bank's existence it has
—H. P
paid dividends aggregating $1,179,000.
Buncher has been elected Cashier of the Waltham
National Bank of Waltham, Mass.,
F. G.
Stickney replaces Mr. Buncher
succeeding J. F. Gibbs;
as Assistant Cashier.
Barney of the firm of C. D. Barney & Co.,
Philadelphia and New York, has announced his intention of
retiring from active business on July 1. There will, however,
be no change in the conduct of the company’s business, which
will be carried on as heretofore, under the same name, by the
remaining partners, viz., J. Horace Harding, Jay Cooke 3d,
Henry E. Butler and Charles S. Phillips. The firm is one of
the oldest in Philadelphia, having been organized thirty-four
years ago after the Jay Cooke failure; the original partners
were Mr. Barney and Jay Cooke 2d; the latter subsequently
retired and was succeeded by Jay Cooke 3d.
—Charles D.
—At the unanimous request
of the directors, Grier Hersh
President of the Maryland
Company of Baltimore. Mr. Hersh had resigned on
the ground that he was unable as head of the institution to
give the desired attention to his private affairs. The direc¬
tors have therefore arranged matters so that Mr. Hersh
has withdrawn his
resignation
as
Trust
will be relieved of
some
of the duties entailed in the office,
thereby enabling him to devote the necessary time to per¬
sonal matters.
Under the arrangement thus made much of
the work formerly exacted of the President will devolve,
it is stated, upon Vice-President L. S. Zimmerman.
—The
Maryland Bankers' Association held its anual con¬
vention this week. The business sessions were held on board
steamship Atlanta while the bankers were en route to
Old Point Comfort and the Jamestown Exposition.
Alex¬
ander Neill, President of the Hagerstown Bank, of Hagers¬
town, Md., in his address as President of the Association,
advocated a new general banking law for the State, the
present one failing to meet the requirements of the day.
the
He declared himself in favor of the establishment of a State
banking department, with a banking commission and other
agencies to make it effective. Most of the States, he said,
have such departments, and they are regarded as an essen¬
tial part of the State Government.
F. V. Baldwin, Cashier
of the Commercial <fc Farmers’ National Bank, of Baltimore,
was a speaker at the meeting, the subject of his remarks be¬
ing “Baltimore as a Reserve Depository." Col. Henry B.
Wilcox, Vice-President and Cashier of the First National
Bank of Baltimore, is President of the association for the
ensuing year. The Secretary and Treasurer were re-elected;
they are respectively Charles Hann, Assistant Cashier of
the National Mechanics' Bank of Baltimore, and William
Marriott, Cashier of the Western National Bank of Balti¬
The Maryland bankers were the guests of the Vir¬
ginia Bankers' Association at a reception in the Virginia
Building at the Jamestown Exposition on Thursday evening.
more.
through Stock Exchange commitments.
—At'a meeting
1465
THE CHRONICLE.
1907.J
.
Company of
Washington, D. C., began operations on Mondajr, opening in
temporary quarters on 14th Street. The authorized capital
—The
is
newly organized United States Trust
$1,000,000, one-half of which, it is understood, has been
H. Bradley Davidson has replaced Daniel N. Mor¬
President, the latter having agreed to serve in that
capacity only during the preliminary stages of organization.
He will, however, continue to be identified with the company,
having been chosen Auditor. Mr. Davidson's other associ¬
ates are M. A. Winter, William J. Oliver and R. W. Beall,
Vice-Presidents; Richard E. Claughtan, Treasurer; James
Trimble, Secretary, and Charles A. Douglas, General Counsel.
paid in.
gan as
—The annual convention of the Ohio Bankers' Association
will open at Cincinnati on Wednesday
and will continue in session for two
next, the 26th inst.,
The program
which has been prepared includes the following addresses:
“Place of the Independent Treasury in the
American
Banking System," by Prof. E. S. Meade of the University
of Pennsylvania, at Philadelphia; “Legislation and Prog¬
ress," by Myron T. Herrick, former Governor of Ohio;
“President Roosevelt's Responsibilities Compared with those
of President Washington," by Charles H. Treat, U. S. Treas¬
urer; “The Treasury and the Banks," by Milton E. Ailcs,
Vice-President of the Riggs National Bank, Washington,
D. C.; “Security," by Warren G. Harding, Editor of the
Marion (Ohio) “Star;" and “Work of the Currency Com¬
mission of the American Bankers' Association," by Col.
James R. Branch, Secretary of that Association.
There
will also be a discussion of the following subjects:
“Re¬
quirements of a Satisfactory State Banking Law,” led by
Judge Henry W. Harter, and “The Group System for the
Ohio Bankers' Association,” led by F. E. Shaffmaster,
President of the Waterville State Savings Bank Company.
—It is
days.
reported that the Columbia National Bank of Lin¬
coln, Neb. (capital, $100,000), has been consolidated with
the First National Bank of that city.
Controlling interest
purchased by S. H.
Burnham, President of the First National. The capital of
the latter was increased in January from $300,000 to $400,000
in the Columbia is said to
have been
capital of the German-American
alluded to last week, was voted upon by
the shareholders yesterday.
The capital is to be increased
the
of
to
extent
$150,000, raising it from $100,000 to $250,000.
Out of the surplus of $90,000 a dividend of 70%
has been declared, reducing the surplus to $20,000, with the
sale of the new 1,500 shares at $120 each, the surplus will
however be brought up to $50,000.
The enlarged capital
will go into effect about July 1.
—The increase
in the
Bank of Detroit,
Mo., has
by the National Bank of the Republic. The
capital is $500,000, as against $250,000 for the old bank, and
the institution has a surplus of $50,000.
William Huttig
has assumed the presidency, succeeding J. S. Parks, resigned.
The other officials are J. H. Berkshire, John Worthington
and Willis Wood, Vice-Presidents; and John C. Wood,
—The American National Bank of Kansas City,
been succeeded
Cashier.
—The
cation to
Comptroller of the Currency has approved an appli¬
organize anew Federal institution in Seattle, Wash.,
under the title of the Citizens' National Bank.
bank will have
a
The
new
capital of $200,000 and surplus of $50,000.
the quarters of H. O. Shuey
institution is being organized.
It will open in September in
& Co., by whom the proposed
ending May 31 1907 the Merchants' Bank
(head office Montreal) reports net profits of $961,660, against $740,399 for May 31 1906. The present year's
profits added to the balance of $74,596 brought forward from
last year gave a total of $1,036,256, out of which $480,000
was paid in dividends; $400,000 was added to the reserve
fund; $100,000 written off bank premises, and $22,000 con¬
tributed to the Officers’ Pension Fund, leaving a balance of
$34,256 to be carried forward. The bank has a paid-up
capital of $6,000,000, and its reserve fund, with the addition
above noted, now stands at $4,000,000.
The total assets
are $52,865,687.
E. F. Hebden is General Manager.
—For the year
of Canada
f&oiietimVI (to mm crcial EugUslt^cms
The
as
(From our own correspondent.)
decidedly better feeling on the Stock
Exchange this week, though business is certainly not more
active.
Indeed, members of the Stock Exchange alh g ■
that, if possible, it is less active. The main thing, however,
is that for the moment liquidation is stopped.
The b( st
opinion is that the liquidation is not yet completed. During
the past six or eight months the loss 's have been very heavy
and a considerable number of persons have had to be helped.
Their stocks have been taken over by thos3 who helped them
and at every favorable opportunity these holdings are sold.
It is this constant offering of “wreckage,” to use the Stock
Exchange phrase, that alarms the Exchange and keeps it
There has been
state.
The condition of
a
a nervous
things is
very
similar in Berlin.
There,
also, the losses have been very heavy. Berlin speculated on a
great scale in American securitic s as well as in purely German
securities.
Both classrs of securitks have fallen sharply
and the loss, s have been very heavy.
It is believed that the
liquidation there also is far from completed. The public in
Germany, just as in England, is holding aloof from the
market.
Consequently, it is difficult to complete the liqui¬
dation and every fresh offer adds to the uneasiness of the
Bouise.
In France
English Financial Markets—Per Cable.
daily closing quotations for securities, &c., at London
reported by cable have been as follows the past week:
London,
London, Saturday, June 8 1907.
in
[VOL. LXXXIV.
THE CHRONICLE
1406
-
Mon.
Tiles.
Sat.
Week ending June 21.
31 1-1G
Silver, per oz
d. .40 15- 16 30,4
S3 9-16 83 q
Consols, new, 2q per cents.. am
i
8.47
83 1 1-1(j 83*4
For account
94.07 q
CJ4.10
French rentes (in Paris)._fr. 94. SO
73 q
74
73
Russian Imperial 4s
81
8,3 q
do
do
New 5s
8154
84 q
85
<83! 'a
Amalgamated Copper Co
11*4
b Anaconda Mining Co
11H
90 %
8954
Atchison Topeka & Santa Fe 89 q
95 q
95 q
Preferred
9514
95 q
94 54
95 %
Baltimore & Ohio
87 q
87 q
87! a
Preferred
17274
172)4
17254
Canadian Pacific.
34
34 U
33%
Chesapeake St Ohio
io q
io q
ioq
Chicago Great Western
128
129
120
q
Chicago Milw. St St. Paul
26
26
26
Denver & Rio Grande, com..
73 q
73 q
73 q
Preferred
22 H
22 H
22%
Erie, common
58
58
57
First preferred
37
37
37
Second preferred
140
140
140q
Illinois Central
114
nsq
113q
Louisville <fc Nashville
20 q
20 q
21
Mexican Central
32 q
32 q
Missouri Kan. & Tex., com.. 33
64 q
65
65
Preferred
51
51
51
National RR. of Mexico
115
N. Y. Central A- Hud. Iliv... 115
lnq
36
35
35
N. Y. Out. &■ Western, com.
Yi
q
74
< o
Norfolk & Western, common l O
82 q
82 q
82 q
Preferred
127
Northern Pacific
125*X
l26q
6i q
61
C)l%
a Pennsylvania
52 q
51
a Reading Co
5154
42
42
42
a First preferred
41
41
41 Mi
a Second preferred
20 q
19 q
20
Rock Island Co
77 q
76
Southern Pacific
7554
19
lsq
ms
Southern fly., common
62
61
61
Preferred
13654
134*4
Union Pacific, common
13554
87 q
87 q
87 q
Preferred
33 %
33 q
U. S. Steel Corp., common.. 33 H
99 74
10054
Preferred
iooq
13 q
13 q
13 q
Wabash
23 q
23 4
23 q
Preferred
62
02 q
q *
Extended 4s
6216
a Price per share,
b £ sterling, c Ex-interest.
.
_
.
.
.
_
.
.
Wed.
31
S3 3-16
83 5-16
94.02 q
73 q
si %
84 q
Fri.
Thurs.
30 15-16i
83 5-16
83 7-16
93.97 q
73 q
30 7<
83 q
S3 7-16
93.72q
73
81
83 %
siq
84
1154
nq
11
90
90 q
95 q
95 q
96 q
89*4
95 q
95%
95*4
87 q
172*4
87
171 q
33 q
10
87 q
173
34
34
ioq
1281-<
25 q
73 q
22*4
57 q
ioq
12854
25 q
73 q
22%
57 H
37
140
37
140
mq
20 q
32 q
65 q
113q
51
115
36
75
82 q
126q
6i q
i28q
26 q
73 q
22
57
37
140
51
51
114 q
35 q
115
35 q
51*4
42
41
42
41
21
77
76 q
isq
74 q
82 q
126
61
/ O
82 q
127
61*4
51
21
ii3q
20q
32 q
65 q
20 q
33
65 q
51
42
41
20 q
75 q
18
62
IS
62
62
q
sharp losses a1 so, though to
134 %
136 >4
134 %
86 q
87
87
q
q
nothing like the extent that occurred in London and Berlin.
32 74
33 5 4
33 q
The speculation in Paris was chiefly in copper and diamond
100 q
100
99*4
13
shares.
Of comse there were other things, but the great
13 q
13 q
25 q
231
23 q
speculation was in tins*, and the speculation was either by
63
63
63
exceedingly wealthy people, who were able to take up and
carry their purchases for a favorable opportunity, or by
weak people, whose failure would not affect markets.
At Commercial anti JJtisccIlitnco ns <sTciua
the same time, the speculation was sufficient to induce the
Bank of France to discourage it in every way and to raise
Auction Sales.—Among other securities the following, not
its rate of discount to MI<£%.
Ji st now, partly because of
regularly
dealt in at the Board, were recently sold at auction:
the general uneas’ness all over Europe and in New York,
By Messrs. Adrian H. Muller & Son:
partly becaus * of the fear of Socialist legislation and especially
Stocks.
1
Stocks.
of an income tax, and partly beetr s% of the peis'sient rumors
2 E. W. Bliss Co., pref
140
j
87 New Jersey Zinc Co
420 q
10
Germania
Life
Ins.
Co
2.40
Eureka
Consol.
\ 5,000
Copper
that the Reactionaries at the Russian Court are recovering*
1 Clinton Hall Ass’n
55'X 1
Co
$550 lot
the Czar’s favor and are doing .their utmost to bring about a
Box
Board
1,000 Gold HUlCopperCo.$ 1.75per hs
145 United
Sc
Paper Co., pref
10 q
dissolution of the Domna, the French banks think it neces¬
sary to stre ngthen themsdves, and gold in very considerable
DIVIDENDS.
amounts is, in consequence, flowing into Par’s.
In addition
The following shows all the dividends announced for the
to the shipments of the metal from New Yoik, cons durable
future by all large or important corporations.
amounts are being sent from London to Par s.
The ship¬
Dividends announced this week are printed in italics.
ments from London have been going on for fully two months
will
and
certainly go on for the remainder of th's month.
Books Closed.
Per
When
B( sicks th's, the French banks have withdrawn a huge part
Cent.
Days Inclusive.
Payable
Name of Company.
of the balance s they have been employing in Berlin, which,
Railroad* (5team f
no doubt,.is one reason why the Berlin market is so nervous
1 Holders of rec. June 21
July
Allegheny A Western, guaranteed...
I 3
to
there
have been
and uneasy.
While, howeyer, the stock exchanges and boms s arc1 in
nervous state, trade continues wonderfully good.
Here
at home every monthly Board of Trade return shows increas¬
ing improvement. And so far as can be judged up to the
present, the improvement is still going on. The home trade,
too, is very good.
In France, trade is much more active
and profitable than it has been for several yeais past.
In
Germany trade continues marvellously good. In spite of
the extreme dearnc ss and scarcity of money every one of the
great trades are reported to be working at the highest pitch.
The one serious drawback respecting trade :s the fear of
exceedingly short crops. The winter and spring have been
most unfavorable.
Probably the view taken now is unduly
pessimistic. Still, the crops are very late, and in the opinion
of many good observeis will be very short.
Owing mainly to the action of the French banks in attrac¬
ting gold to Paris, the rates of interest and d'seount have
somewhat advanced in London this week, and the general
expectation appeals to be that money will tend to grow
somewhat scarcer and dearer during the remainder of the
month.
This will, of com sc, mainly depend upon the
action of France.
If a steady stream of gold flows to France,
the other European markets must necessarily be affected.
this
Also it
market.
depends
to a considerable extent upon the German
There, rates were
kept tolerably easy by the laTge
amount of French money employed by the banks at the
comparatively h'gh rates ruling. The French banks, how¬
ever, have withdrawn a cons.dei able proportion of their
funds, with the result that the b( st opinion in Berlin now
clearly is that there will be no reduction in the Bank rate,
at all events not during the month of June, for at the end of
the half-year the usual requirements will be so laige that
there will inevitably be a very large expans'on of the note
circulation of the Imperial Bank.
It is aigued, therefore,
that it would be folly for the Imperial Bank to put down its
rate now and to raise it again at the end of the month.
The India Council offered for tender on Wednesday 50
lacs and the applications amounted to nearly 454^ lacs at
prices ranging from Is. 4d. to l.s 4 5-32d. per rupee. Appli¬
cants for bills at Is. 4 M-32d. and for telegrapihc transfeis at
Is. 4^d. per rupee were allotted about 15% of the amounts
applied for.
2q
Atchison Topeka Sr Santa Fe, preferred, i
Atlanttc Coast Line Rll., common
i
Bald Eagle Valley.
i
Beech Crock, guaranteed (quar.)
|
Hell Railway, Chicago (quar.)
Boston St Albany (quar.)
Boston <fc Lowell
Boston & Maine, common equar.)
Boston * Providence, guaranteed (quar)
Boston Revere Beach & Lynn
Boston dr Worcester Electric Cos., pref
j
3
5
1
2
Crivplc Creek Central, com. (quar.)(No.
Preferred (quar.) (No. 9)
2
1
iq
2q
i %
Preferred
Schuylkill Nav., RR. & Coal
Louisville A Nashville.
Maine Central (quar.).?
Manhattarf. guaranteed (quar.) (No. 9.4)
Michigan Central
Mine Hill dr Schuylkill Haven
Minneapolis
St. Louis, preferred
2
2
July
Aug.
14
2
2
4
July
July
July
July
July
June
July
-
1%
Julv
June
roc.
1
July 10
June 11
to
of
rec.
to
of
of
rec.
rec.
ol rec.
of rec.
lJuly 17
lJune 16
15 July
2
r Lime 23
1. June 23
to
to
to
to
to
1 Bine 11
1 June 18 p
1 June 11 r
•
June
June
1
1
June 15
June 15
June 15
1 June
July 21
July 21
4
Jun«
June 10
Aug. I
July
1
July 14
July 15
July 15
June 30
to
June 30
to
July
1
J. ne 28
Jure 28
15 Holdera'of rec.
-29 Holders ofirer.
13 HolderarSoflrec.
13 Holderejof ^rcc.
1 p
Holde-o nf>rpp.
16
to
l: July 23
1 Holders of jec.
to
1 June 15
29 Holders of rec.
June
to
19
15
to
15 June 30
to
20 June 21
24 Holders of rec.
1
1
3
of
to
15
2
to
to
20| July 11
to
20! July 11
1 Holders of rec.
26 Holders of rec.
July
July
June
Aue.
6
June 25
i Holders
i Holders of rec. June 28
to
i July 17
July 31
to
J urie 30
i June 21
to
June 30
1 June 21
to
June 19
LJune 16
June 28
to
281 June 13
to
June
28
281 June 13
1, Holders of rec. June
3
3
1 Holders of rec. June
to
June 30
LJune 15
1
to
J une 23
24 June 16
201 Hold ere of rec. June 28
30. Holders of rec. June 36
Julv
July
July
July
July
iq
j
July
July
5
j
Julv
1%
1*4
2H
2qn
3q
iq
(quar.j..
July
July
July
July
July
July
July
July
3
3
N. Y. Central & Hudson River
New York & Harlem, common and pref.
Xew York Lackawanna St West. <quar.)
N. Y. New Haven & Hartford (quar.)..
New York Ontario St Western, common
Colony, guaranteed (quar.)
July
July
*2q
\fnrriq Ax Faw
July
2q
2%
3
Mobile & Ohio
June
5
2q
Missouri Pacific (No. 57)
July
July
July
July
June
Aug.
1
6
2
1
5
Little
June
June
July
July
July
1%
2%
g, common
Common, extra
July
July
July
June
3
lAhigh Vail
Aug.
iq
4
j
July
Aug.
2
l
Kansas City Southern, preferred
Lake Erie St Western, preferred
Lake Shore St Michigan Southern
Pcnnsvlva^la Comnon-.
July
3q
Interborough-MetropolitAn, pref. (quar.)
Interborough Rapid Transit (quar.)
Old
July
3
2
:
Northern Central (No. 85)
Northern RR. of New Hampshire (quar.).
Norwich A Wooster, preferred (quar.)
2q
iq
iq
Georgia Railroad dr Banking (quar.)
Hocking Valley, common
Preferred
\%
J til v
1%
...
Delaiearc
Delatcare River Railroad A Br idge
Des Moines d- Fort Dodge, pref. (annual)
Detroit «fc Mackinac, pref
June
2
2
2
8)!
July
July
July
1
July
4
a
10 June 22
l Holders
l June 23
1
29 Holders
2_ May 26
T Holders
i Holders
i Holder*
Aug.
2q
$2
Canada Southern
Central Railroad of Neic Jersey (quar.)
Chicago b Alton, preferred..
Prior lien and participating Btock
Chicago St Eastern Illinois, pref. (quar.)
Chicago Indianapolis & Louisville, com.
Preferred
Chicago <fc North Western, common
Preferred (qilar.).._
Chic. Rock Island A Pacific (quar.)
Chicago dr WcsUrn Indiana (quar.)
Cin. New Orleans & Texas Par.,common.
Cleve. Cin. Chic, dr St. Louis, pref .(quar.)[
Connrctinj (Philadelphia)
I
Aug.
July
.
to
11
Holders of rec.
Holders of rec.
to
June 16
Holders of rec.
to
July 17
Holders of rec.
Holders of rec.
to
June 16
Holders of rec.
June 29
June 29
June 29
Aug. 12
Junel5a
June 25
June 28
July 14
July 16
July 21
June
June
June
June
June
June
20
30
28
15
30
15
30
29
July 29
June 29
15
June 10
1
June 30
1
June 10
1
29 Holders of rec. June 20
Junk l*2
1907.]
THF CHRONICLE
Name of Company.
Railroads (Steam)—(Concluded)
Philadelphia Baltimore & Washington.
Per
When
Books Closi d.
Coil.
Payable.
Days Inclusive.
1407
Name ol
Ptr
Cent.
Company.
When
Books Closed.
Payable.
Days Inclusive.
.
1
Pitts. Cin. Chic. & St. Louis, common
Preferred
-j>
Southwestern of Georgia
Texas Central, common (annual)
Preferred
.Union Pacific, common (quar^)
Vermont Valley ....
Worcester Nashua A Roc/uster..
.1
Street Railways
>1
July
5
14
July
July
1
July
IX
34
July
July
July
July
July
24
Julv
5
July
July
14
14
IX
July
July
July
75e. July
14 July
Bangor Railway & Electric (quar.)
Boston Suburban Electric Cos., pf. (qu. >
Capital Traction, Wash., D. C. (quar.)...
Chicago City Railway (quar.)
Cincinnati Street Railway (quar.)
14
June
14
2
July
July
S3
June
4
July
■
1
Continental Passenger Railway, Phila..
Holyoke (Mass.) Street Railway
Indianapolis Street Railway
Johnstown (Pa.) Passenger Ry. (qua)
.!
-
1
s e
4
1
l
2
l
(quar.)...
Maryland Electric Railways.
Metropolitan St. Ry., N. Y.
X
X
IX
IX
Netc Orleans Ry. & Light, pref. (qua)
Portland (Ore.) Ry., Lt. <fc P., pf,
Puget Sound E'eetric Ry.,Seattle, pref
Reading Traction
Philadelphia
July
July
July
June
July
lulv
July
July
Vi
14
Juiy
July
1
June
Julv
14
24
Hi
Julv
IX
July
July
July
■I
4
$5
...
to
to
to
1 June 21
6
1
15
1
29
June 22
to
June 26
to
Holders of rec.
Holders of rec.
June 15
to
to
June 11
Holders of rec.
1
15 July
1
30 Holders of
1 Holders of
July
July
July
1
1
1
June
18
July
1
June 30
July
July
1
6
June24a
June 15
June 30
June 17
rec.
June 15
July 15
May 31
June 29
rec.
June 30
to
rec.
1
30 Holders
1 June 11
1 June 25
1 June 22
l'June 21
20 June 23
15 June 30
1 Holders
1 Holders
1 June 16
1 Holders
1 Holders
30 June 20
1 Holders
of
to
to
to
to
to
to
of
of
rec.
rec.
to
of
roc.
of
rec.
to
of
rec.
July
July
1
1
July
1
Juno 28
July 14
June 15
June 18
.
|
:
_
Chase Nation at
Chatham National (quar.) (No. 14C>)
Chemical National (bi-monthly)
Citizens' Central National
Coal A Iron National (quar.)..
Colonial
T
Columbia
Commerce, National Ban k of,(quar.)
Consolidated National
Fifth Ave nue (quar.)
•
1
..
!
1
1
June 1!)
June 30
Chicago Telephone (quar.)
Columbus Gas & Fuel. pref. (quar.)
Columbus (Ga.) Elec. Co., prof. (No. 2).
Junc20a
First National
First National,
(quar.).
Broolyn (quar.)
Garfield National (quar.)
German Exchange
'
1
Merchants' Eichane/e National
Mercantile National
Extra..
Merchants’ National (No. 208)
to
June 30
1 June 20
1 June 21
1
l Holders
1 Holders
I Holders
2D June 20
to
July
July
July
July
July
June
1
10
5
5
1
34
1
24
!■
3
6
3
5
5
1
1
34
Metropolitan (quar.)
l
4
3
3
Mutual
Nassau Nat., Brooklyn (quar.) (No. 88).
New Anisic*darn Natlorud (quar.}
...
Near York, N. B. A., Bank of, (No. 247)
Nineteenth Ward (quar.) (No. 24)....
Extra
Northern
North Side, Brooklyn (No. 20).
Park, Natietnal (quar.)
IjJuno 13
July
July
_
I
Twelfth Ward
Unhm Exchange
West Side
Yorkvlllc
July
July
July
July
24
J une
2
2
3
July
July
July
July
July
July
July
10
Seaboard National
Stale
Julv
July
July
July
July
Julv
July
July
7
4
5
People’s (No. 112)
Julv
July
July
July
July
4
Plaza
June 30
June 30
June 30
June 30
June 12
July
July
July
Inly
4
i
to
I
1
6
!
I
to
to
July
l
July
Jefferson
June 30
1 H ohlers
10
5
:
July
to
to
to
J uly
8
4
3
.
Hanover National (quar.)
Liberty National (quar.).
Manufacturers' Nat., Brooklyn (quar.).
Market <t- Fulton National (quar.)
Meehnnles,’ Brooklyn
IjJuno 22
to
Julv
•>
3
5
3
5
6
8
July
4
July
July
July
July
July
July
July
of
ree.
5
=...
5
15
Empire
Equitable (quar.)
3
3
3
4
Fifth Avenue (quar.)
Flatbush, Brooklyn
Franklin (Brooklyn) (quar.).
Fulton (No. 30)
Guaranty (quar.),
34
5
5
2
25
3
3
3
3
Italian-American
Knickerbocker
Lincoln (quar.)
Manhattan
Extra
Metropolitan (quar.) (No. 42)..
Morton (quar.)
Mutual Alliance
New York (quar.)
Standard
Title Guarantee A Trust
5
^
(quar.).
Extra
United Stales
Van Vorden (quar.) (No.
..
9)
Washington (quar.)-.
Williamsburg, Brooklyn (quar.).
6
5
4
8
4
‘
8
2
25
July
July
July
June
July
Julv
June
July
June
July
July
June
July
July
July
July
J une
July
June
June
J une
J une
June
July
2
June
to
of
of rec.
of rec.
of
June 2D
Jane 30
rec. June 2D
to
June 30
June 30
] June 21
to
1 June 20
to
July
1
June
to
1
22
June 30
1 June 22
to
June 30
1 Holders of roc. June 13
1 Holders of rec. June 2D
11 June 22
to
July
1
1 June 3 9
to
June 30
1 June 27
to
June 30
1; Holders of rec. June 22
1 June ID
to
J une 30
1 June 21
to
June 30
O
June 21
to
July
1
2 June 21
to
July
1
1 June 21
to
J une 30
1 June 25
to
J une 30
1 June 22
to
June 30
1 June 27
to
June 30
1 June 28
to
June 30
1 June 22
to
June 30
29 June 21
to
Juns 30
l'June 23
to
July
1
ljJune 23
to
July
1!June 21
to
J une 30
ljJune 19
to
to
to
to
July
l|June 22
llJune 23
1
1
1
1
1
1
1
3
July
July
1
1
1
1
1
29
1
1
29
1
29
8
1
29
1
1
1
1
29
1
29
29
29
29
29
1
29
1
Rys.it U. Stk. Yds..com (qu.)
Preferred (quar.).
new
pref.
.
1
1
1
1
June 2D
June 30
International Silver, preferred (quar.)..
I nternat. Smokeless Pow. ifc( 'hem. coni, (qu)
Mackay Companies, common (quar.)
Preferred
(quar.)
Manning, Maxwell A Moore, Inc. (quar.)
Maryland Coal, preferred
Preferred, extra
Massachusetts Gas Companies, common..
Massachusetts Lighting Cos. (quar.)
Mcrgcnthaler Linotype (quar.)
Michigan Light, common (quar.).
Preferred (quar.)
National Biscuit, common (quar.)
National Ena.™. <fe Stamp, pref. (quar.)
National L-iad. common (quar.) (No. 14)
National Licorice, preferred (quar.)
National Sugar Refining, pref. (quar.)..
New York Air Brake (guar.)
Old Dominions. S. (No. <53)
Otis Elevator, preferred (quar.)
Peoria Light, preferred (qmr.)
Pittsburgh Plate Glass,
Procter A
common
common
(qunr.)
(quar.)
Common (extra)
Republic Iron & Steel, preferred (quar.)
Preferred (extra)
Rhode I si. Perkins Horseshoe, pref. (quar)
-
Preferred (extra)
Royal Baking Powder, preferred (qunr.)
_
_
Safety Car Heating & Lighting (quar.)..
Extra
:
Seat*, Roebuck & Co., preferred (quar.).
Securities Company.
Standard Coupler, common
July
Holders of
June 26
Texas & Pacific Coal
TorringtoJi Company, preferred
Union Bag <& Paper, pref. (qu.) (No. 33)
Union Ferry (quar.).
Union Switch A Signal, com. A pf. (qu.).
United Bank Note Corp., pref. (quar.)..
United Fruit (quar.) (No. 32)
United Gas Improvement (qunr.)
United Shoe Machinery, common (quar.).
Common (extra)
Preferred (quar.)
United States Leather, preferred (quar.)
IT. H. Red. A£Utftt..nref. (quar.)(No. 10)
U. S. Smel ..Ref.A Min.,com.A pf. (quar.)
U. S. Steel Corp.. com. (quar.) (No 14).
Vlrglnia-Caro. Chem., pf. (qu.) (No. 47)
1
June 22
June 30
July
1
June 30
July
1
June 23
to
July
Holders or
rec.
June 24
June 19
June 23
June 25
Holder*
June 21
Holders
June 25
Holders
June 21
June 21
Holders
to
July
June
3
June 30
rec.
to
of
rec.
to
of
1
to
to
of
rec.
to
to
1
June 29
July
1
June 28
June 30
June 29
July
July
8
1
of rec. June 20
Holders of rec. June 22
June
6
to
July
1
June
to
6
July
1
June 22
to
July
1
to
June 22
J une 30
June 21
to
J une 30
June 25
to
June 30
Holders of rec. June 24
Holders of rec. June 21
June* 20
to
June 30
June 30
June 20
to
June 20
to
July
1
June 21
to
June 30
June 23
to
July
1
of rec. June 20
lj Holders
Preferred
Standard Gas Light, New’ York, pref
Streets Western Stable Car Line, pref...
Swift * Company (quar.)
_■
Tefft, Weller Co., preferred (quar.)
rec.
July
J une
J une
14
IX
14 i July
(quar.)
Waltham Watch, oommon
Watefbury Co. of West Virginia (quar.).
WaterburyCo. ofNewJersey.com. (qu.)
Preferred (quar.)
Western UnionTeleg. (quar.) (No. 155).
Westlnghouse Air Brake (quar.)
Extra
Westlnghouse Elec. A Mfg., all stocks(qu.)
Westlnghouse Machine (quar.) ( No. 47).
White (J.G.) <fc Co., Inc., pref. (quar.)..
.' Holders of ree.
2D June 21
to
2D Holders of rec.
1 Holders of rec.
to
29 J une 15
2D June 15
to
1 June 18
to
1
Julv
IX
2
July
July
July
July
July
July
July
July
July
1
:June
2D June 23
to
24
June
75c. July
14 iJuly
2
:July
14 'July
24 'July
14 !Juiy
14 jJuly
14 iJuly
2
July
14 iJuiy
2D June 20
to
1
.'July
1 Holders of
15 July
4
15;June 29
1 Juno 15
1 June 16
1 June 16
2 June
2
2'June 2
15 June 17
11 June 16
15 Holders of
IX
1*4
14
IJuly
50c.
;June
'June
1*4
IX
IX
$20
14
14
IX
IX
2
iJuly
July
IJuly
July
July
July
IJuly
14 Ju'y
24 iJune
14
3
14
14
1
(July
July
'July
jAug.
July
14 IJune
J uly
1*4
4 ' July
1
July
14 July
IX July
24
July
14 July
2
July
IX July
3
IJuly
14 July
14 July
2
July
1*4 July
July
24 July
1
July
July
Aug.
| July
July
June
{July
.July
July
7
1 June
7
1 June
1 June 12
23 July 11
to
to
to
to
20 July 11 to
1 Holders of rec.
1 Holders of rec.
i Holders of rec.
rec.
to
to
to
to
to
to
to
to
to
rec.
to
1
-
-.
to
to
to
July
July
July
June
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
j July
July
July
July
July
July
1
July 14
1
July
Aug. 1
Holders of
iune 29
4
June 21
June 30
1
June 29
to
rec. July 1
15!Holders
July
July
June
June
June
1
to
to
July
June
July
June 16
•ljHolders of
2D! June 16
June 21
July
July
July
July
1
1
2
2
June 29
1
July
July 10
Julv HI
Julv 15
July 15
June 29
July
July
July
July
July
July
July
to
J une
July
June 29
Juno 30
June 20
July 15
July 15
1
July
llJune 17
ljJune 17
June 25
July
Jnly
July
July
June 15
July
1 IJune 18
2D
July
June
June22a
to
to
to
1: June 16
June 11
June 15
July
July 21
June22a
.
1 June 10
6
15 July
1 iJune 13
l.July 11
L Holders of rec.
of rec
29, June 16
to
1 Holders of rec.
June
1
July
l
uly
1
July
1
July
July 23
July 23
J
11 Holders of rec. June 20
to
2 June 22
July
1
lj Holders of rec. June22«
to
21
1 June
June 30
to
1 June
1
June lfi
to
tune 16
1 June
1
to
1 June 21
June 30
1 Holders of ree. June 25
to
1 June 22
July
1
p Holders of rec. June 8n
to
1 June 22
July
1
15 Holders of rec. June!5a
to
1 June 16
1
July
Aug.
July
July
July
22
30
30
15 Holders of rec.
15 June 26
to
15 July
to
6
to
261 June 1.8
28' Holders of rec. May 31
1 Holders of rec. June 14
15 Holders of ree. June 30
15 Holders of rec. June 30
1 Holders of rec. June 10
to
1 June 13
1
July
to
llJune 13
1
July
to
2D Juno 27
June 30
1 Holders of rcc. June 15
1 Holders of roc. June 20
to
1 June 21
July l
to
1 July 17
July 31
10 June 29
to
July 9
to
20 June 20
June 29
2D
July
June 27
June 30
28
June
June
June
June
to
23 July 11
1 Holders of rec. June 15
June
June
July
Gamble, preferred (quar.)
Quaker Oate.
I
July
June 23
Holders of rec.
June 15
to
June 14
to
June 26
to
June 21
to
June 22
to
Trust Companies.
Bankers' (quar.).:
Bmcling Green (quar.)
Brooklyn (quar.)
Central (quar.)
Preferred (quar.)
Central I>catlier. preferred (quar.)
Chic. June.
10
150/
.
Hamilton
July
Julv
„
Consolidated Car Heating.
Corn Products Refining, preferred (quar.).
Crurlble Steel, preferred (quar.) (No. ID)
Cumberland Tel. it Tel. (quar.) (No. 95)
Denver Gas & Electric (monthly)
Dominion Coal. Ltd., common (quar,)..
Duluth Edison Elec., pf. (quar.) (No. 5)..
du Pont Internat. Powder, pref. (quar,).
Eastman Kodak, common (quar.)
Preferred (quar.)
Electric Boat, preferred (quar.)
Electric Storage Battery, corn. A pf. (quar)
Empire Steel A Iron, preferred (No. 17)
Evansville Light, preferred (quar.)
General Chemical, pref. (quar.)
General Electric (quar.)
Great Lakes Torrlng, preferred (quar.)
Great Western Cereal, preferred (quar.)
Guggenheim Exploration (quar.) (No.lS)j
Hudson River Telephone (quar.)
Julv
Julv
1
3
to
lJune 2 3
July 1
1 Holders of rec. June 17
1 Holders of roc. June 15
CJune D
to
June 30
1 June 12
to
1
July
1 Holders of rec. Juno 20
1 June 23
to
July
1
1 'Holders of rec. June 15
24
-1
14
American Express—
American Ice Securities (quar.)
Amer. Iron & Steel Mfg., com. (quar.)..
Preferred (quar.)
American Pipe Manufacturing (quar.)..
American Radiator, common (quar.)
American Screw (qmr.).
American Sewer Pipe (quar.)
American Shipbuilding, preferred (quar.)
Amer. Smelt.. * Ref., com. (qu.) (No. 15)
Preferred (quar.) (No. 32)
American Snuff, common (quar.)
Preferred (qunr.)
American Sugar Refining, common (quar)
Preferred (quar.)
American Telephone & Telegraph (quar.)
American Tobacco, preferred (quar.)
American Type Founders, com. (quar.).
Preferred (quar.)
American Woolen, pref .(quar.) (No. 33).
Bcll Trie phone of Philadelphia (quar.)
Butte Coalition Mining
Calumet & Ilecln Mining (quar.)
Celluloid Company (quar.)
Central Coal A Coke, common (quar.)
June
June
50 c.
2
3
1
Columns * Hock.Coal it Iron,
3
3
3
July
July
July
200g
IX
American Can, preferred (quar.)..
I
Amer. Car & Fdy., com. (quar.) (No. 19):
Preferred (quar.) (No. 33).
j
American Caramel, pref. (quar.)
j
American Cement (No. 10)
I
Extra
|
1
1 June ID
l June 26
1 June 22
11June 2D
1 June 22
1 June 26
1.4
r
S/)ccial
13
3
Aeollnn-Weber Plano* Pianola,pf. (qu.)
American Bank Note (quar.)
j
American Beet Sugar, pf. (qu.) (No. 32)!
Artier. Brake Shoe A Fdry., com. (quar.).
j
4
June 20
July
Banks.
America, Bank of
Borough, Brooklyn
Butchers’ A Drovers', National
Miscellaneous.
Adams Express
Preferred (quar.)
to
to
to
1 May 30
1 June 22
July
»
5
July
July
2
July
1
July 15
1
Julv
).
June 12
Aug. 3
12i Holders of rec. June 29
5 June 18
to
July
5
151 July
to
6
July 15
15 July
to
6
July 15
July
14 July
1*4 July
S4.75
ree.
of rec.
Holders of rec.
J une
9
to
June Id
to
Holders of rec.
1 June 16
1 June 16
1 June 16
’
-
West End Street, Bos'on, preferred
West Philadelphia Passenger Railway.
Julv
June
Julv
3
7 be.
Roch "f‘T R'iiPr •>/, preferred (quar.)
Soutu Side Elevated. CMcago (quar.)..
Syracuse Rapid Tranov. ore), (quar.)
Thirteenth A Fifteen h "reels, Phila
Tri-City Railway A L g it, pref. (quar.),.
Twin City R. T.. Mimieap.. pref. (quar.
Union Passenger Railway, Philadelphia.
1
1
Aug.
1 ^
15
2
1
)
5
2 V,
1 Holders of
lojllolders
July
July
4
•
K.C.Ft.Scott& M.pref.trust certs (qu )
Southern Pacific, com. (quar.) (No. :
Preferred (No. 6)
Union Triction,
Aug.
July
1:,4
IX
St. Louis & San Francisco—
Chic. & E. Ill. com. stock trust c<
Preferred stock trust certs, (quar.).
common
July
24
Special guaranteed (quar.)
Reading Company, common
Rensselaer it- Saratoga
Louisville Traction,
0
0
rec
to
to
to
to
to
to
to
June 30
June 30
July 15
July
1
June 30
June20a
June20a
July 15
July
July
1
1
June 30
July
1
July 21
June 30
15 Holders of rec. June 29
1;Holders of ree. June 18a
29iHolders of rec. June 20
15 Holders of ree. June2‘)a
15 Holders of ree July
5
15 Holders of ree. July
6
to
1 June 11
July 1
to
1 June 11
July 1
15 Holders of rcc. July
1
15 Holders of rec. July
1
29 Holders of rec. June 15
1 Holder* of rec. June 14
1 Holders of rec. June 14
to
1 June 10
July 1
to
16 June 80
July 15
to
29 June 25
June 30
to
29 June 25
June 30
to
29 June 23
June 30
to
1 June 21
July 1
to
1 June lfl
July <1
June
22
to
1
July IT
to
29 June 21
June 30
1 Holders of rec. June 19
to
16 June 30
July IS
1 June 21
to
1
July
to
10 July
1
July 10
June
to
18
l
1
July
15 Holders of rec. June 20
15 Holders of rec. June 29
15 Holders of rec. June 20
Holders of rec. June 29
15 Holders of rec. June 29
1 Holders of rec. J une 10
to
1 June 21
June 30
15 Holders of rec. June 25
to
1 June 13
July
1
15 June 23
to
July 17
1 Holdere of rec June 10
to
June 30
1 June 21
to
June 30
1 June 21
to
-vine 30
1 June 21
15 June 21
to
June 3ti
10 July
to
1
July 10
10 July
to
1
July 10
10 June 29
to
July 10
to
10 July
1
July 10
1 Holders of rec. May 81
a Transfer books not closed,
d On account of accumulated dividends and being
remainder of such dividends unpaid,
e Correction.
/ From earnings of year 1906. g Payable In collateral trust bonds.
York City Clearing-House Banks.—
The following statement shows the condition of the New
York City Clearing-House banks for the week ending June 15.
It should be distinctly understood that as to all items
except capital and surplus the figures are the averages of the
daily results, not the totals at the end of the week. In
other words, in reporting loans and deposits and holdings of
specie and legal tenders, the practice is to take the aggre¬
gate of the amounts for the several days of the week and
divide this aggregate by the number of days.
Statement of New
We omit two ciphers
(00) in all cases.
New York City, Boston and Philadelphia Banks.—Below
is a summary of the weekly returns of the
banks of New York City, Boston and Philadelphia.
The New
York figures do not include results for
Clearing-House
non-member banks:
We omit two ciphers
Capital
Loans.
Surplus.
Capital.
Banks
00s omitted.
a Re¬
serve
...
S
2,000,0
2,050,0
2,000,0
3,000,0
1,500,0
1,000,0
25.000,0
3,000 0
Bank of N. Y-.
Manhattan Co.
Merchants’
Mechanics’
Am *rica
Phciix
City
-
Che nical
Merchants Ex.
Gallatin..
Butch.&Drover
Mech.& Traders
Greenwich
American Exch.
Commerce
Mercantile
Pacific
Chatham
600,0
27.300,0
22,276,0
5,400,1
524,8
159,932,5
25,553,5
500,0
5,000,0
25,000,0
500,0
450,0
200,0
2,000,0
3,000,0
2,550.0
500,0
1.000,0
2,000,0
3.000,0
..
Park
East River
Fourth
Second
First
Irving Nat. Ex.
Bowery
N. Y. County._
German-Amer
Chase
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
Fifth
.
250.0
3,000,0
500.0
10.000,0
2,000,0
250,0
200,0
750,0
Liberty
N. Y. Prod. Ex.
NewAmsterdam
State
I
14th Street
6,100,0
8,319,0
2.IG8.1
16,558,0
6,103,9
27,993.1
149,449.2
4,989,5
1.212,7
3,325,3
5,651,3
1,954,3
15,363,6
57,869,1
2,607,5
6,474,0
1,691,7
4.270,0
15,853.0
3.168,0
4,991.7
4,827.0
1,940,8
852,0
53.117,9
10,087,8
3,724,5
3.604.2
4,929.0
12,726.1
944,2
1,536,8
7,615,3
3,015,6
1,342,7
460,5
1,700.0
1.000,0 i
129,100,0
Total United States
5.318.0
17,816.0
162.1
247,0
2,914,0 1,929.0
1,090,0 1.368,0
17.160.0 '1,489.0
3,098,0
846,8
70,0
710.0
591,5
1,203,2
183,3
824,1
13,281,3 1,157,4
1.745,5 1,014,9
216,0
825,0
834,2
757,8
1,225,1
1,754,7
3,824,0
7,216,4
1,115,0
27.1
27.4
25.1
25,3
25-9
24.9
25.5
26.2
20.3
25.2
27.7
26.8
22.2
23.7
25.2
24.0
22.1
27.8
30.7
27.4
25-7
26.0
19.fr
27.2
25.1
24.6
10,327.3 20.3
22,3*2,0 25.2
89,550,0 25.8
1,637,4 25.0
19,209,0 25-2
9,352,0 26.2
75,296.0 24.7
15,456,2 25.6
405,7
1.371.0
4,396,2
161,720,6i
14,984,8
66,268,3
19,492,7
3,889,4
7,264,7
11,039,8
45,726,0
605,0
168,2
4,783,0
13.104,0
17,233,0
4.523,0
13,194.5
6,488,0
2,572,1
496,0
780,2
437,3
808,9
1,413.3
695,8
2,317,0
616,1
14,912,8
3,773,7
5,676,8
7,003,8
2,049,7
269,9
200,0
1,000,0
300,0
1,000,0
1,000,0
1,000,0
128,797,1
500,0
975,8
401,6
1,341,4
602,1
907,1
548,0
3,457,0
579,0
2,209,3
1,479,6
S92.1
10.232,7
3,914.0
l.ooo.o!
610,9
2,773,8
10,845,8
770,2
859,2
630,3
1,649,1
163,6
336.0
607,0
390,1
39,855,0
10,197,4
25,575,7
78.52S.0
1,367,0
19,498,0
90,462,9
111,0
1,900,0
78,9
608,6
3,680,0 1,608,0
215,3
1,255,4
3,745.5 1,135,0
22,307,9 10,245,0
917,7
2,671,0
3,589,3
7,503,6
9.867,0
1,964,7
19,749,5
1,080,1
2,300,0
1,030,0
2,156,0
2.053.G
834,3
%
15,603.0
32,100,0
17.010,0
22,414.0
24,104,0
7.311,0
138,578,9
24,540,5
6,560,2
5.720,2
2,468,8
19,709,0
.6,600,0
20,569,3
1.84S.0
2,389,0
6,500,0
3,248,0
3,521,0
4,205,8
1.712,0
33,460,9
4,793,8
1,563,3
10,079,4
3,028,6
267,5
1,378,2
20,232,2
7,276,6
S,645.2
128,1
3.307.5
100,0
200,0
200,0
500,0
1,000.0
250.0
1,000.0
West Side
Seaboard
1st Nat., Bklyn.
8,025,0
20,074,5
5,000,0
Metropolis
22,690,1
5,099,3
801,5
1,038,9
475,5
2,240.0
8,521.3
1.045,0
357,8
1,561,4
951,3
750.0
1,500,0
3.000.0
Imp. & Traders'
22,413,0
4,765,2
14,947.8
3,000,0
Corn Exchange.
Oriental
14,818,0
2,394,5
101,6
950,3
G84.2
2,000,0
North America.
Hanover
Citizens’ Cent..
Nassau
Market & Fult.
Totals
3,001.1
1,607,1
3,G27,3
4,238,1
454,5
1,000,0
300,0
People’s
Metropolitan
17,437.0
S
S
s
S
s
3,039,9
3,507.0 22.2
6,492,7 27-6
3,521,5 28.5
57,641,4 25.0
2,087,8
316,3
200.3
1,844,7
566,0
1,609,0
338,0
607,1
430,0
399,5
212,0
503,3
10,691,0
4,294,2
6,080,3
13,416,S
7.933,3
3,084,8
10,430,8
4,292.0
19,862,0
4,234,0
11,385,3
7,558,5
5,487,5
25.8
24.2
26.1
-
May 25-.
June 1-June 8-June15_-
a
226,050,0
226,649,0
60,319.0
60,019,0
265,331,0 14,055,0
266,117,0 14,055,0
226,703,0
58,127,0
261,442,0 14,070,0
148,548,8
51,165,0
225,765,0
58,291,0
261,675,0 14,103,0
136,902,4
Including lor Boston and
also Government deposits.
on June 15 to $4,583,000; on
Bank
Notes.
ing
Agent.
plus.
Specie.
$
Chelsea Exch
447,4
Colonial
482,4 6,281,0!
Columbia
6,021.0
Consol. Nat. 1,000.0 1,137,2
147,5
1,046,8
200,0
Fidelity
282,3
5,013,9
200,0
Hamilton
4,395,7
500.0
683,8
Jefferson
2,597.8
218,8
250,0
t. Morris..
295.0
3,457,8
200,0
utual
4,742,8
484,5
300,0
19th Ward..
3,881,0
363,6
100.0
Plaza
102,4 2,260,1
100.0
Riverside
2,606,0
221,7
200,0
12th Ward..
1,707,7
180.6
100,0
23rd Ward..
882,8
8,474,4
750.0
Union Ex
3,458,0
100,0
397,9
Yorkville
5,089,0
500,0
590,9
Coal* I. Nat.
208,2
1,280.4
200.0
34th St. Nat.
8S9.0
124,3
200,0
Batt.Pk.Nat.
Borough oj
Brooklyn.
3,438,7
169,1
200,0
Borough
421,0
2,799,5
150,0
Broadway
1,974,7
123,4
300,0
Brooklyn
727.3
4,655,4
252,0
Mfrs.’ Nat
993,3
11,835,2
Mechanics’
1,000.0
6.054.0
945,6
750.0
Nassau Nat.
637,0
3,302,0
300,0
National City
217,6
1,667,7
100,0
North Side..
for the Week.—The following are
New York for the week ending June 15, also
beginning of the first week in January:
S
15.5
30,9
$
110,8
73,4
92,8!
37,6!
392.3
112,7
493.1
95.5!
685.0
12,3
338,1
11,8
136.4
18,5
37,2
218,0
25,3
37.0
70,3
461,5
41,5
906,0
277,4
130,3
...
$2,602,655
11,633,317
$2,306,326
$1,943,959
12,553,749
S,207,205
7,624,233
SI ,517,594
$14,235,972
$10,513,531
$9,568,192
$76,393,614
277,476,998
$65,812,622
268,531,231
$55,730,279
226,80S,500
$2,963,845
Dry Goods
General Merchandise
Total
Since January 1.
...
$88,
.
45
326,722,032
Dry Goods
General Merchandise
$415,
Total 24 weeks
.677 $353,870,612 $334,343,853 $282,538,779
1
following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending June 15 and from Jan. 1 to date.
The
EXPORTS FROM NEW
155,2
432,7
231,4
240,0
..
.
400,0 1,192.2
250,0
719,2
338,7
200,0
220.0
125.0
581.5
202,1
134,0
21,8
$288,959,655
$294,235,84G|$24G,054,871
$
859,4
S
114,4
376,0
IMPORTS OF SPECIE AT
AND
EXPORTS
140,1
58,5
221,7
175,9
161,2
38,9
$325,411,424
NEW YORK.
Imports.
4.538.0
997,2
6,464,3
4,316,7
3,109,6
3,491,1
220,0
86.7
f
3,5
4,906,5
4,692.0
2,364,6
173.4
_
_
2,963,0
1,970,8
_
44,7
Week.
Since Jan. 1
Since Jan. 1
$2,540,353
; $4,845,085
Great Britain
Total 1907
Total 1906
Total 1905
50,000;
7,000
1,510.711
i
-
$228,094
$5,783,263
155,708
76,131
44,708.578
S17.240
33,814
412,555
|
-
164,550
12.490
331.087
1.155.297
156.282
98,051
1,310,153
192,040
0,037,969
$2,501,198
France
Germany
West Indies
Mexico
South America
All other countries
$2,551,198 $12,813,320
500
5,590,922
32,889,146
j
-
5,429.584
I
$2,259
$1,010,192 $18,022,665
'
West Indies
i
1,143,000
l,883j
106.554
Mexico
i
South America
All other countries.
5,158,0
6.622.0
261,1!
329,0
235,9
371,0
853.0
90,1
203.0
139,7
749,5
287,9
584.0
160,4
56,9
204,0
9,1
1,536.0
1,613,0
36,7
743,6
242,6
418,6
217,520,499
1900 and 1905:
Silver.
542,6
229.0
161.1
$7,890,925
$8,429,195
237,625,676
The following table shows the exports and imports of
specie at tin; port of New York for the week ending June 15
and since Jan. 1 1907, and for the corresponding periods in
&c.
276,7
312,9
127,1
1904.
1905.
1906.
1907.
Banks, Deposits.
443,0
211.0
198,7
179,6
77.7
110,8
882.7
504.0
393,0
131,2
4.276.2
188,5
234,8
2,542,9
1,740,3
101,7
55,S
77.1
93,5
2,464,6
116 3
64,0
21,0
1,840.9
—
—
600
4.78G
$1,012,075 $19,284,160
1,014,850! 26,088,072
507,076! 14,909,801
Total 1907
Total 1906
Total 1905--
158
59.616
451,677
415,806
8,592
$8,233
133,934
32,370
1,630
$176,167
34,356
32,920
*
S938.108
1,112,426
1,629,269
for the week in 1907, $27,460 were
S3,803 American silver coin. Of
the exports during the same time $50,000 were American
were American silver coin.
gold coin and
Of the above imports
American gold coin and
8,307,3
4,240.3
5,230,0
1.345,5
167,2
60,0
9,0
3i>anktug aucl financial.
744,2
52,0
3,778.8
2,815,8
2.269,7
5,024,1
47,4
284,3*
34,7
207.3
127,4
712,5
1,340,1
1,130,0
pleased to mall Investors copies of <mr 10»p*ge
describing 5 7 Short-Term Notes and Collateral
Bonds.
Trust
Spencer Trask & Co.
5,865,0
606,0
66,3
97,0
282,5
3,943.0
2,558,6
280,8
5,997,9
440,8
209,0
220.4
26,1
2,185,2
2,024,5
123.2
65,2
9S,4
82,2
2,056,2
1.797,3
1,991,3
129179.9
9,947,0 14960,3! 119706,8 5.739,1 6,879.4 14,400,2 3,740,7
Tot. June 8. 9.947.0 14581,5 118872,1! 5.662,1 6,727,5 15.727,5 4,135.0 12957S.4
Tot. June 1. 9,947.0 14581,5 117829,7| 5,574,0 6.489,4 18.925.0. 4,130,1 126665,7
I
circular
13.961,6
.Tot. June 15.
i
YORK FOR THE WEEK.
Total 24 weeks
Net
264.0
69,0
66,0
125,3
266,7
341.2
222,0
1904.
1905.
1906.
1907.
For iccck.
We shall be
45.1
14,3
..
First Nat
Hud. Co. Nat
Third Nat...
Hoboken.
First Nat...
Second Nat.
NEW YORK.
FOREIGN IMPORTS AT
Great Britain
France
S
43,5
75.7
297.0
amounted
Imports and Exports
the imports at
Totals since the
7,578,2 21.3
Other
and
Philadelphia the item "due to other banks”
Germany.
975.5
1,315,8
1,332,6
4,288.4:
136,154,1
For Boston these Government deposits
June 8 to $4,580,000.
25.9
26.3
25.9
25.5
21.6
24.7
25.2
Deposit with
Clear¬
Invest¬
ments.
Jersey City.
138,469,7
51,165,0
51,165.0
51,165,0
283,271,109
<-
Century
160,734,0
Exports.
and
Sur¬
$
177,4
149,6
114.0
8,239,0
17,648,0
Week.
Tender
tal.
8
217,165,0
186,320,0
Gold.
Loans
Capi¬
100,0
200.0
100.0
100,0
300.0
4,545,0
187,091,0
43,680,0
$10,964,737
N. Y. City.
Man.&Br'x.
Wash H’g’ts.
117,161,8
168,192,3
$12,787,447
ciphers (00) in all cases.
and
’
8,492,0
8,490,0
8,414,0
43,6S0,0
S31.039.400.
Legal
Boroughs 0}
214,616.0
213,387,0
215,782,0
276,172,208
23.5
140,823.1
4,343,0
Previously reported
15,884,0 25.4
1,478,712,6
4,416,0
4,123,0
For the week
of Non-Member Banks.—The following is the
statement of condition of the non-member banks for the
week ending June 15, based on average daily results.
I..
8-.
June 15..
Phila.
1,386,695,3
1.635,016,9
17,632,0
16,641,0
16,475,0
190,782.0
189,323,0
43,680,0
43.GS0.0
June
June
$
1,613,334,9
1,656,086.1
$
$
$
S
215,060,2 72,937,7 1106,100,9 50,440,4
221,189,6 72,659,4 1112,640.5 50,659,6
221,928,0 72,903,1 1128,194.6 50,628,9
213.574,2 72,191,7 1119,141,5 50,565,9
210,056,2 73,026,5 1114,272,3 50,477,4
24.6
26.1
Reports
Banks.
%
%
New York
May 18. 289,514,5 1124,808,7
May 25-- 289,514,5 1126,389,5
June 1_. 290,094,1 1139,931,1
June 8-- 290,094,1 1141,445,4
June15_. 290,820,6 1139,755,9
Clearings.
Circu¬
lation.
Deposits, a
1139,755,9 210,056,2 73,020,5 1114,272,3 25-4
deposits included,
Wc omit tivo
Legals.
Surplus.
Boston.
Lcqals. Deposits,
Specie.
(00) in all these Homes.
Specie.
Loans.
and
Banks.
May 25-_
a
[VOL. LXXXIV
THE CHRONICLE
1468
i
1
Branch Office,
Albany,N.Y.
William and Pine Sts.. New York.
Moffat
&
White
Members New York Stock Exchange.
6
NASSAU STREET.
HANOVER BANK BUUJXNG
Dealers In Investment Securities.
COMMISSION ORDERS EXECUTED FOR
CASH ONLY
June 22
The transactions in all classes of bonds at the
%mkzv$T (gazette.
For Dividends see page
1466 and 1467.
Night, June 21 1907.
Market and Financial Situation.—The most
prominent characteristic of the security markets continues
to be the exceptionally small amount of business transacted,
and in this particular a new low record, both for a single day
and for a complete week, has been established.
Prices,
however, have been more steady than for some time past,
for which there is at least one good reason.
We refer to the
more seasonable weather throughout the country and to the
fact that the prospects of a good harvest in the South and
West are better than they have been.
Other than this there
is no change worthy of note in the general situation.
Gold to the amount of $5,000,000 has been engaged for
$1,100,000 for London, which makes
shipment to Paris and
date $1S,500,000.
the total outward movement to
is very little change in the money
abroadr In the
low record and,
or
Prime commercial paper quoted at 53^% for endorsements
and 53^2@0% for best single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £664,601, and the percentage
of reserve to liabilities was 47.30, against 46.96 last week.
The discount rate remains at 4% as fixed April 25.
The
Bank of France shows an increase of 29,900,000 francs in
gold and 1,825,000 francs in silver.
The New York City Clearing House banks in their statement
of June 15 showed a decrease in the reserve held of $2,683,200 and a surplus over the required reserve of $4,514,625.,
against $5,980,525 the previous week.
Diyerences
)rom
Surplus
Loans and discounts
Circulation
Net deposits
.
.
Specie..
Legal tenders
Reserve held
25% of deposits
Surplus reserve
alll4,272,300 Dec.
210,056,200 Dec.
73,026,500 Inc.
$
$
$
129,100.000
161,720,600
1,139,755,900 Dec.
50,477,400 Dec.
1905.
June 17.
1906.
June 16.
previous week.
$
Capital
48.487,400
88,500
4,869,200 1,048,182,100
1S5.357.000
3,518,000
83,761.900
834,800
115.972.700
139,492,800
1,104.860.900
47,359,000
1,140,284,800
205,857,400
86.423,300
117,472,700
149.236,400
1,689,500 1,000,076,300
283,082.700
278,568,075
Dec.
Dec.
2,683,200
1,217,300
269,118.900
262,045,525
292.280.700
285,071,200
4,514,625
Dec.
1,465,900
7,073,375
7,209,500
a $31,639,400 United States deposits Included .against $31,661,700 last week and
$15,375,000 the corresponding week of 1906. With these United States deposits
eliminated, the surplus reserve
on
would be $12,424,475 on June 15
June 8.
Note.—Returns of separate banks appear on
and $13,895,950
the preceding page.
Foreign Exchange.—The market was generally strong this
week at about the highest points of the year, influenced by
demand and a scarcity of bills. Gold exports to
and to London $1,100,000, making $18,500,000 thus far on this movement.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 843^@4 S5 for sixty-day and 4 88@4 883^ for sight.
To-day’s (Friday’s) actual rates for sterling exchange were
4 8410@4 8415 for long, 4 8735@4 8740 for short and 4 88@
4 8810 for cables.
Commercial on banks 4 8365@4 8375
and documents for payment 4 83@4 84%.
Cotton for pay¬
ment 4 83@4 8334; cotton for acceptance 4 8365@4 8375
and grain for payment 4 84 34 @4 84%.
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were
5 18%/i@5 18%° for long and 5 1634(? o
for
short.
Germany bankers’ marks were 94%@34 il-16 for
long and 95%@95 5-16<2 for short. Amsterdam bankers’
guilders were 40 37@40 39 for short.
Exchange at Paris on London to-day 25f. 15c.; week’s
range 25f. 15]^c. high and 25f. 14%c. low.
The week’s range for exchange rates follows:
an
week, and Rock Island 4s, Burlington & Quincy joint 4s and
Pennsylvania convertibles have been strong features of the
market.
United States Bonds.—Sales of Government bonds at the
Board include $4,000 3s, coup., 1908-18, at 102% to 102%,
and $1,000 4s, reg., 1907, at 100%.
The following are the
urgent
Paris $5,000,000
Long
Sterling Actual—
High
4 8410
(($ 4 8415
4 8360
Low..
@ 4 8370
Paris Bankers' Francs—
High
5 18Hh
@ 5 IS%a
Low
5 19%
@ 5 18%
Germany Bankers' Marks—
High
94%
© 94 11-16
94 9-16 @ 94 11-16
Low
Cables
Short
© 4 8740
14 8735
@ 4 8725
|4 8715
15 15%h
15 16%
1
|
95%
95%
Amsterdam Bankers'Guilders—
.
|4 8«
|4 87G5
for yearly range see third page
daily closing quotations;
following.
There
as
1907.
June 15.
Tuesday,
and for the week have averaged little^nore than that sum. Of
this a large portion has been railroad bonds, although the
industrial issues are steadity gaining in importance, and the
relative proportion of this class of bonds in this week’s total
is larger than it has sometimes been.
Sales include Amer¬
ican Tobacco, Colorado Industrial, U. S. Steel and Central
Leather issues.
The latter close 1 point higher than last
Interest
Periods
market conditions at home
London market consols have made a
is generally well known, all the prin¬
cipal European banks are maintaining a higher discount rate
.than is usual at this season.
There the market has a slightly
firmer tendency and rates for both call and time loans are
quoted a little higher.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from 234 to 3%%.
To-day’s rates on call were 2>£@3Hj%.
new
Exchange
barely reached a total of $700,000, par value, on
Wall Street, Friday
The Money
1469
THE CHRONICLE
1907.]
@ 4 8810
© 4 8775
@5 15%d |
@ 5 1 b%h 1
® 95 5-16 1
@ 95 5-16d |
2s,
2s,
3s,
3s,
3s,
4s,
4s,
4s,
4s,
2s,
registered Q—Jan
coupon Q—-Jan
registered Q—Feb
coupon Q—Feb
1930
1930
June
15
June
19
June
June
17
18
June
20
June
21
*104% *104% *104% *104% ♦104% *104%
*104% *104% *105% *105% *105% *105%
*102%
*102%
*101%
*100%
*100% *100% *100% *100%
*128% *128% *128% *128%
*128% *128% ♦128% *128%
*104% *104% *104% *104%
*102
*102
*102% *102% *102%
1908-1918
*102
*102
102% 102% *102%
1908-1918
1908-1918. .small coupon Q—Feb *101% *101% *101,% *101% *101%
registered Q—Jan *100% *100% *100% 100% *100%
1907
.
coupon
1907
registered
1925
coupon
1925
1936-Panama Canal regls
Q—Jan *100% *100%
Q—Feb *128% *128%
Q—Feb *128% *128%
Q—Nov *104% *104%
.
*
This Is the price
bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.—Mention is made
above of the limited transactions at the Stock Exchange,
and there is little else of interest to record in regard to the
stock market.
The
trading
on
Thursday aggregated loss than 200,000
shares, and for the entire week has averaged but little more.
Fluctuations have been so narrow as to be almost wholly
significance, many issues not having covered so much
point during the week, and net changes are generally
to lower figures.
Of a list of 25 prominent issues only 4
close higher than last week.
Reading and Union Pacific are again the exceptional fea¬
tures.
Transactions in the former were nearly one-third
of the whole, and the two supplied material for more than
half the business of the week.
They were also the most
irregular issues, each covering a range of about 2% points.
Reading closes without net changes in price, and Union
Pacific, ex-div., in only 3^ lower than last week.
New York Air Brake has recovered about half the decline
noted last week and Smelting and Colorado Fuel & Iron are
higher. General Electric is down 2% points and Amalga¬
mated Copper is over a point lower.
Steel common has
fluctuated narrowly and closes without net change.
Steel
preferred is fractionally lower.
For daily volume of business see page 1477.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
without
as
a
STOCKS.
Week ending June
lor
Week.
Range since Jan. 1.
Range lor week.
Sales
21.
Loivest.
Highest,
ij Loieest.
June 21,145
June 18 100
Balaklala Copper
June 15 $9% June 20, $7%
3
Chic Lm Trac ctfs dep__j
100 3 June 21 3 June 21’!
Comstock Tunnel
I
500 28c. June 17 28c. June 17 23c.
42
Federal Sugar Relining.;
400; 55 June 18 56 June 18i!
1
General Electric rights. 20,501
1 June 15
l%June 19
j
American Coal
Assoc. Merchants,
1st pf
100145
10103
800 $8
June 21145
June 18103
Gt. Northern subserlpt’n
receipts, 50%
paid...! 2,709 117%June 17119%June
Illinois Cent, leased lines
Sou. Pac. pref. subscrip¬
tion receipts 1st paid.!
do
full paid
Western Maryland
1
22: 92
June 19 92
20; 115
92
June 19:1
I Highest.
June
June 145
Mch 106% Mch
June $9% June
June
3% May
Jan
Mch 50c.
Feb 62% June
2
June
May
J une
June
130% April
99% Jan
107
1.375106%June 21107 June 18:106% June
700 106%June 19 106%June 20 106% June 106%
9661 15 June 20 15%June 17 15 April 30%
June
June
Jan
Outside Market.—The “curb” market has been an exceed¬
ingly dull affair this week. Transactions were extremely
light and price movements, with few exceptions, within the
narrowest limits.
The general tone of the market continues
heavy. Boston Consolidated Copper dropped from 23% to 23,
advanced to 24% and ran off finally to 23%.
Butte Coali¬
tion sank from 23% to 23, rose to 25 and fell back to 23%.
Douglas Copper, after fluctuating between 10% and 10%,
moved down to 9, but subsequently recovered to 10%.
United Copper common advanced from 64 to 64%, then fell
to 63, recovering to 65%.
It weakened again and sold
down to 613^, the close to-day being at 62%.
Trading in
Nevada Utah was brisk at times, though price changes were
insignificant—fluctuations were between 4% and 5. Greene
Cananea lost half a point to 15, advanced to 15%, easing off
finally
to 15%. Micmac Mining was strong, the price mov¬
Less:
o 1-16 of 1%.
dl-32 of 1%. *3-32 of 1%.
Plus:
k 1-16 of 1%. x 1-32 of 1%. y 3-32 of 1%.
ing up from "5% to 6%. Nipissing ranged between 11%
The following were the rates for domestic exchange on and 11%.
Butte & New York rose a point to 4, but sold
New York at the undermentioned cities to-day:
Savannah down finally to 3%. Business in industrials was practically
buying, 50c. per $1,000 discount; selling, 75c. per $1,000 at a standstill. Standard Oil was conspicuously weak, mov¬
ing down from 511 to 508%. It recovered to 510, but on
few Orleans bank, 15c. per $1,000 premium; commercial,
heavy transactions broke to 503. Consolidated Steamship
20c. per $1,000 discount.
Chicago, 5c. per $1,000 premium. lost about a point to 2%. Waterbury Company common
sold off half a point to 40.
St. Louis, 55c. per $1,000 premium.
Western Ice, from 34%, dropped
San Francisco, par.
to
33%,
advancing
to-day
to 34%.. Chicago Subway de¬
State and Railroad Bonds.—Sales of State bonds at the
Board are limited to $15,000 Virginia 6s, deferred trust re¬ clined from 24% to 21.
Outside quotations will be found on page 1477.
ceipts, at 25.
nigh......
Low..
1
I
40 37
40%
@ 40 39
@ 40 5-16
Sremium. Charleston selling, $1 per
1
|
$1,000 premium.
New York Stock
Exchange—Stock Record, Daily, Weekiy and Yearly
<»CCIJP\
TWO
STOCKS—HIGHEST AMD LOWEST SALE PRICES.
Saturday
June 15
Monday
Tuesday
June 17
June 18
87
87U
*92*2 0314
*04*2 96*2
92
92*2
867s 88
*92*2 93
*85
52
*85
5212
*6334 64
*170
180
38l4 33*2
*16
*--..
24
53
*1014
1034
*69
72%
£43%
47
16
12434 125*8
150
*107
*120
140
*1100
*126
*160
1
5
*5
*3
*14
*65
*95
5178
150
110
131
141*4
200
135
ISO
5
10
44*2
1445
61
36
*65
*85
*20
15*2
44
18
*38*2
*70
24*-
55*2
*16
*55
*45
*110
132*4
*80
20
*43
*80
*98
128
31%
♦62*2
74%
*120
*48
*-...
*3
4
*f4
125
72
~
61
*70
161
55
56
36
70
95
~V4
*66
*85
*95
*
*
122% 123%
*1*18*4 110%
*93
*92
*93
105
98
102
103
20
4
17
68
105
*95
465
25
72
61
*449
465
2434 25
*70
*62
*10*0
*449
65
36*4
*36*4 37*2
75
95
*65
*85
61*2 61*2)
*1012 12l2
*17*2 22
22
22*8
70
*30
*66
95
*85
12538 126*2
52*2 52*2
*8
*20
*_
8*2
30*4
9578
83
80
.
56
37*2
75
95
*65
*85
126
51
125*4 126
51
51
*7*2
8*-
9578
•
»
«
*20
*
105
95
*80
84
99*4 102%
*S014 84
*79
80
44
‘98% 101*1
19%
19%
19%
81
20*
1
*78
20*-
421-
/»2lo
43
4314
43%
65
32
20*4 20*4
*24*2
*70
*61*4
*10*2
*65
*85
12634
53
65
32
*ul*4
fu*>
§32
10*-
*50
53
*181*50
52
20
53
V --i's
7-1%
75%
111
111
If
<112
Ill
17%
60*2
%
60 *4
75%
7...%
1S%
*78
a
300
250
5,220
5.983
300
100
100
30*4
*20
3.600
700
1.200
2,310
30
1.790
200
210
Denver Ac Rio Grande
Do pref.
Detroit United
12*2 Duluth So Shore Ac Atlantic
Do pref.
22
.
30%
95
*
300
a ware
70
95
♦85
80
*181*491-
33
20
53
7 5%
T6
ir%
44
(55
31*20
53
421-
*61-%
31
*181-
*4't%
75*8
7.5% 76%
111*4111*1
17% 17%
111%111%
17% 17%
1*2
§ IS*2 1S*2
60% 69%
80
2OI4 21*4
43
*61
311*181*50
44
65
99
*80
*78
99%101%
*80*4 84
20% 21
44
*61
*31
67**85
111*4
*17*-
4.365
Erie.Do
1st pref
Do
2d pref
Evansville Ac Terre Haute._
Do pref
Great Northern pref
Temp ctfs for ore prop
Green Bay Ac W, deb ctf A.
Do
deb ctf B.
700
200
27*49193
*261-
27%
49
*92
93
49*-
80
*v.5
86
57*- 27*2
49
*91
49
93
131%133%
S5
85
27% 27*4
491-
49
*91
131
Banks
Did
Ask
New York.
Aetna
America U__
Amer I'.xch.
215
515
220
921-
11,173
4,930
Bid
Ask
395
140
245
230
700
500
405
1 1 i
251
245
City
530
Coal A Iron.
23D
Colonlalli
320
Butch’s&Dr
160
170
CenturyU
190
300
305
200
AND
Banks-
225
_
350
315
84
Chemical
Citizens’ Ctrl
132% Columbia 11.
330 “ Commerce.
Chase...
Chatham
Chels’a Exc 11
1,000
905
1,850
100
300
400
700
1.650
625
170
Consolidated
153
Copper
225
Com Exch 1j
Discount 1i_
-iast River.
! Fidelity H.
2
>0
150
150
195
93
-
84
03
131
*83
132%
TRUST
Banks/
Fifth
Fifth
First
Twin City
85
Ask
340
-
14th Street Ti
Fourth
Gallatin
G nil i eld
Germ an Am *1
525
175
163
2321- German Exfi
295 ikrcrmanla 11.
160 liGreenwich 11
160
Hamilton U205
lanover
-
615
225
185
350
500
140
420
500
285
260
495
"
-
-
soo
17*719
1.S80
„
^
1
Mch26
May27
May28
67
Jan
7
Apr 4
J’ne 3
92
Apr
6
139% Jan
2
Jan
5
49*2 May27
Apr
165
230
Mercantile..
Alerch Kxch, 185
Merchants*
158
.
Bid and asked prices; no sales were mode on this day.
c Ex beneficial Interest In ore properties.
t Sale at Stock Exchange or at auction this week,
146
107
May29
27%Jan
May23
59
90
140*4 Jan
3
Jan 2
4-1% Mch
72% Jan
92% Jan
Jail
59% Jan
147
Jan 16
91% Jan 7
189 Jan 9
4s%Jan 5
92*4 Jan 5
90*o Jan 10
110
189*2 Jan
134
-Mch 15
124*8 Jan
Mch.'.)
Mch 14
125
66
Mayas
105*2 Jan
139*8 Jan
5
7
Jan
Jan
7
8
92
64
'
30*8 Jan 5
64*2 Jan 5
70 Jan 11
48% Jan 5
25*2 Jau 7
62*o Fel) 15
96*4 Jail 14
llsig Jan 14
34
Jan 5
94*o Jail 5
109*4 -Uay27
17
May 27
May 28
24-% Mch•25
or,*
i
37*8 Jan
7i
123
Jan
8,
Mch2si
29
Jan
7,
Mch 14
1*20*4 Mcll 1 4
s»4
7
J’ne 3
Mch 14
17's Mch26
40% Mch26
59
Mch IS
29
Mch 25
IS
Mch 19
45*4 Mch25
69% Mch 14
24
7
Mch 8
141'% Jail 8
78
Jan 22
91
91
SO
May24
77*- Mayi*4
Mch H
33% Jan 5’
5 »78 Apr 12
108*2 Jan 7
Jan
183
J’negoi
218
Aug
240
270
Jan
198
202
Jan
Aich
Jan
18% Jan
42% Jan
13% Feb
47*- Alch
06*2 Apr
43
May
189
May
437% May
36% May83
Oct
7y<g Dec16
J’ly
32
Apr
38*« May
74% Dec
62D Apr
:
73% Feb
68
” Dec-
80
cl 78
J ’ly
Dec
70% D oc
81D Nov
1134 Oct
33% Jau
77*4 Jau
92*2 Nov
“ May
33% J ’no
70% J’ly
24
J’b
48
J’iy
77
Oct
227g J ’ly
49
J’iy
164
J’ly
27*o
75 ” Sep
61>4 Oct
136% Alay
140
Sep
J’ly
103
18% Alay
531 o Dec
90 “ Apr
134
Dec
Jan
Oct
118
41
59
Deo
234% Nov
May
560
5l7g Jan
91%
Jan
Feb
102
227g Jan
45
Jau
50<g
Jan
92*23*53 "
97%
Jan
J an
Jun
Aug
Feb
Dec
Jan
Jan
Aug
Alay
S3
7 6%
76
94
348
85
90%
J'ne
184*2
J’**e
55%
Alay
87% May
34% Jan
63% Jau
84*2 Feb
37% Jan
Jan
71
44<g J an
$921- Jan
81% Jan
Jan
’ Jan
Jan
156*162
127
291- Dec
S4% Jan
100*4 Jau
164
-V*«*h
183% Jan
103% Apr
29
May
43% Nv,v
70
N OV
64*.| Apr
80*2 May- 106% oan
133
May- 140*2 Jan
36
Apr
5034 Dec
30
Dec
13% J’ne
Nov 156*4 Jan
126
Mch
59
73*-Apr
111
Apr
1207g Jau
92
Dec
80
May
1891- Dec
204’-; J an
571., Jan
43% May84
Feb
97% Oct
96
<*ai»
89*2 Apr
179% May 232*2 Fob
0
Feb 13
95
114
270.945
Ma
96
5
v 2
103
105
Jan
Jan
105*122*75 “
100
112
89
Jan
J’ly’
.43
J’ly
142
106
135
J’ne
Jan
May
147*2 Jan
87
MayJau
Alay 109 Aug
May 064 Jan
,J<> n
96
Sep
Jan
Apr
90
102
221- J’ly
32% N ov
60
J’ly
69% Aug
60
Feb
72% Apr
401- J’ly
51% Feb
201- May
27% Jau
63% Sep
4,s% May
61
May
97*2 Sep
J’ly
116
120*2-* 1 e
31% Nov 42% J«.n
93D Dec
103
J an
28 ” May
40% (i;-t
121
N ov r 130*2 Jan
J an
36
25% Dec
25*4 J 'ly
40*2 Jan
Dec
13S*- May
102
91*- May
5;i% .i«-.u
122*4 J,.n
195% S--P
U9*.i Jan
QUOTATIONS.
310
265
>40
170
240
•
Feb 14
13434 Jail 10
63*2 Jan 7
23% Mch2()
45
Alch s
-
5Jan 15
Jan 24
1GS
700
2.135
200
Feb 13
Jan 23
Mch 14
27
39% Jan
199% Dec
1097^ Jan
Jan 7
Jan 10
90
101
196
220
510
’
2
Mch 13
Mch 25
Mch 25
Nov
11% J ly
7
4
30% Jan 5
61% Jan 8
28*2 Jan 12
67% Apr 26
67*2 Jan 0
145% Jan 5
30*4 Alch20
Mch 26
59
64
Mch 14
119
Mch22
48% Mch23
20% Mch20
108*4 J’ne 3
35
Alay2K
109
Mch 2:.
70
Mch 20
159*2 J’ne 4
31% May 28
Mch 14
71
80
Mch 14
114*4 Mch 25
106*2 May2'
124
100
157%
200
600
51
80
239<g May
66% Aug
35'% Oct
77% Oct
23% Jan
86*2 Jan
80
Jap
80
Dec
110
J’ly
29*‘> Jan
4
287g Jail
Aug
J ’ne
934 Apr
3
Alch 6
Jan 5
Jan 3
Jan 23
75% Jan,
Mch125
10*4 Mchils
1,800
Lincoln
It
47“Jan
86*2 Jan
114
94
172
39
Apr
25 Dec
3% May
14*2 Jan 17
45
Banks.
no
85
Mch 9
Apr 23
Apr 1
Metropolis T
„
44*4 Jan
757g Jan
33*2 May28
565
Mechanics’
80*s Jan 10
10io Jan
39 Jan
51% Apr 15
Ask
1000
Manhattan ? 2 U
Market 4; Fui 265
4278Jau 7
83?g Jan 10
May 2 7
I77g J’ne 7
30% Mch25
70
-11
J’ne”
18
Mch114
Dec
192
225
168
175
Jan ll
_
J’ne 15
y34 Mch 14
55
52
108
129
83
15
46
79*2 Sep
70
15
10
10
8
19
227*o Jan
510 Jan 24
134
Mch 26
15
J’ne 13
a>43% J’ne 13
J’ne
Feb
87
20112 Dec
707s J an
Jan 14
Jan
Jan
Jan
Jan
Jan
927g.Jan
108*2 J&n
38% Jan
09*2 Jan
58*2 J&n
01
122
Dec
70
16
6*4 Apr 3
19% Jan
69% Mch 25
Bid
Liberty
1
445
24
Imp A Trad &50
Inter boro f
Irving N JSx 186
Afeoh ATrar
295
290
505
May27
J’ne 5
s?%
!
JeffsrsanTf-.
-
40
160
53
1.500!
51*2 Nov
25*8 Sep
934 Feb 21
May27
May22
Mch 14
17
_
-
630
300
195
360
525
150
Mch26
May 13
May 28
Rapid Transit
Banks.
63
101
21
56
20
5
5
25
90
COM PANIES—BROKERS'
4200
Mch27
123
1,120
1
Bid
Mch28
150
100
17.410
Lr nlon
Do Pacific
pref
AveH_ 3900
5
9
J'neis:
3.830
27
*91
100
94% Jan
Jan
141
149
205
234
170
165
Apr
Mch25
Jan 18
90V- Jan
J’ly
Jan
155-% May
65*8 J ’ne
204
May
2
1G77S Jan
125*8 Sep
Oct
247g Nov
157*2 Jan 14 £146% Dec
165*2 Jan 5 +100 Dec
May2/
83
800
rI'exas Ac Pacific
105*4 105*4 JLklrd Avenue (N. Y.)
Toledo Railways A Lffcht..
*24*- 26
27
27*s Tol St L & W v tr ctfs
Do pref vot tr ctfs
49*- 49*2
27*-
200
120
91
71
83
Jan 5
Jan 2
Feb 25
7134 Feb 14
26% Jan 5
Mch 25
106
131*8 J’ly
10534 May
69
18
79
126*2 May28
137*2 Mch25
HOD Sep
Jan
Dec
27*2 Jan
56
I2i2 May23
122*2 Mch 25
145
107
x98
_
219*2 Jan
J’ne 17
J’ne if
200
2.900
do-
pref
70
43
75% Mch28
83*2 MfCh28
KC Ft S 4 M, tr cts pref..
60*2 601-
131% 133%
—
H igiusi.
85% May
7
12
195*0Jan 4
65io Jan 14
Mch 23
Mch 14
Mch 25
31% May27
11*2 May20
50 J’ne 18
9*2 May27
8
30
72
45.750
100
67*- Plttsb Cln Chic Ac St L
Do pref
95
431.600
100% 1 Reading
lv
1st pref
84
2d pref
'”200
80*17,000
20*8 Rook Island Company
Do pref
43
3.650
St L Ac San Fr. 1st pref
65
2d
Do
630
pref
311St Louis Sputhwesteru
500
20
Do
pref
52121.4 V.!
75*,s Southern Pacific Co
Do
2,127.
pref
111%
4.250
18>4 Southern v tr cfs stamped..
*20
49*4 49%
*92
152*4
*84
Battery Park
Bowery 1i
122%
*26D
Lowest
94i2 Jan 10
83% Jan 7
85% Feb 8
45*4 Mch 14
83
Feb 16
90
Havana
Do Electric
pref
Do
J’ne 19
19
118% 119% Pennsylvania
72
95
133*8 Jan
122
Jan
85
27g Mayl5
1U2 Mch 14
__
Delaware
AcLack
Hudson
el
Ac Western
405
26
72
81-
119*4 119%
80
BANKS
700
700
8.020
...
*65
70
95
98% 100%
*80*4 84
20%
*61*4
*31*2
19*4
131*8 132*4 :i30*2 133
*S4
100
1st preferred
2d preferred
d
12478 125*2
5012 51
51*2
601- 61
60161
61
251- 25%
261•26
26% 26*4
26*4 26*4 *26
*105
110
*105
110
*105
106
110
*105
110
*105
26
251- 251*241- 26
*24
25% *241- 26% *24
49>s
63
*17*2
21% 217S
*5534 5034
*36
37*4
26
*91
500
Cleve Cln Chic A St L_.._
Do pref
Colorado A Southern
105
May27
90*g Mch25
165
1.400
.
.
108*1 Jan
101% Jan
212
11.700'
100
•
*85
72
95
Highest.
Mch 25
155
60
Nash Chatt Ac St Louis....
118% 119%
*20
pref
Chicago Union Traction
Do pref
17*2
163*2 163*2
*449
75
95
95
;or Previous
Ytar <19001.
'ois
92
92
12
Iake Erie A Western
*65
*85
*59
7,550
Do
-
119% 120*s
ISI4
13,600
,
16*5
*65
*85
110%
310
Hocking Valley tr rects
72
74%
17
465
Range
100-share
01
82% Mch 14
.
600
5,525
*
•
118%11"%
50
100
Baltimore
A Ohio
Do
pref
20
4
83
*65
•
*7%
30*4®
*20
*70
*_
*12
*3
*14
63
*95
25*2 26*4
71*2 72
*61*2
*10*2 1212
*1712 22
22
2212
56*4 56*4
*36*4 37*4
72
21?8 22*8
55*2 55*2 *55*2
20
4
163*2 163*2
*449
25%
J&
72
12*2
*17*2 22
55
30%
95*8
S3
405
oasis
Lowest
8,400
_
95
93
87
227g 227g
2234 23
58*4 58*4 *57
59
45*2 45*2 *43*2 45
T
72
*85
95
92% H*0%
*S )
84
80
*78
il
x95
93
*85
75
*0412 66%
118% 119*-
♦
98
86
Hocking Valley, pref
*134*2 137*21 136*- 136*- *135 136*2 Illinois Central
*16
*16
16*2 *16*8 161- Anterboro-Metropolitan
Do pref
44*2 44*2] *4412 45% *44*8 45*4
*17*- 18
*17
18
*17*2 18
Do
*38*40
pref
*38*2 39*2 *3812 39*2
*72
75
*72
75
*72
75
ansas City Southern....
*23
24*24% 24% *23
24*2
Do pref
57
*55
57
*55
*5434 56
23
*16
23
23
*10
*16
J
Do pref
65
*55
65
*55
*55
65
*45
55
55
*45
55
*45
Long Island
*110*2 111*2 *11012 111*2 111*2111*2 Louisville Ac Nashville
130
130
130
130*4 130 130
\lt anhattan Elevated
i+A etropolltan Street
*81
£5
85
*75*4 85 *
Mexican
Central
10% 19%
191*4 19% *19*2 20
45
45
*43
46
*43
*43
Minneapolis A St Louis
Do pref
85
*80
*81
♦81
85
85
.Minn St P Ac S S Marie
103
*98*- 103
*99*- 102
*98
Do pref
*127
130
130
*1271- 132
*120
Mo Kansas Ac Texas
32
32*4
31% 32
32% 32%
Do pref
63% 63%
63*2 63*63% 64
x72*- 7412 *721- 7312 Missouri Pacillc
74*2 76
130
130
*120
130
*120
*120
at of Mex, non-cum pref.
50
50
*48
*43
*48
50
*
Do 2d pref
20
*..
20
20
*:__.
111*4 112
111-% 112% 111% 1H% 116*2 Il23g 109's 110% N Y Central Ac Hudson
N
Y
Chic
A St Louis
39
*36
39
*37
*36*2 38*2 *36
38*2
*37*4 40
+
*
Do
1st pref
*
*..
115
115
115
*_
115
115
*
*
Do 2d prer
*
85
*_
85
*_--.
85
85
85
*160
*159*- 165
16378 *160 164 *160 1637g N Y N Haven Ac Hartford..
§161 161
3 5% 35% *34% 36
34*2 341o N Y Ontario Ac Western
34-% 34%
34% 35
73
*72
74
73
74
721- 72% Norfolk Ac Western
72
72
§74
Do
adjustment pref
122% 12 3^s 122% 124* 2 1221'- 123% 123% 124% i2212 123*4 Northern Pacific
Do
109
109
subscrip rects
110*2 1 U)% 110*4 110*4 109*2 109*- 110 110
98
¥>aclflc Coast Go
98
*93
*93
98
*94
98
*93
98
*93
JL
Do
1st pref
*92
*92
102
*92
102
*92
*92
102
102
102
Do 2d pref
*94
*94
*94
104
104
*94
102
*93
103
1Q4
*05
*31*-
A tch Topeka A Santa Fe_
Do
pref
Atlantic Coast Line RR...
87% 8734
*92% 93
93
93*2 94*4
85
85 4
53
53*4
*12
*3
*14
2234 227s
58
58*2
58*2
44*2 44%
4434
163*4 164 *102% 166
85*- *_
85*2
135*2 *135*4 136*- 135*4 135%
16
15*15*2 15‘a
ir,i2
43*2 44
44*2 45
44*8
IS
*17*2 18
*17*2 18
*38*- 39*2 *38*2 39140
75
*72
*72
75
75
24*- *23
24*2
24*2 *23
55* 55*2 55*2
55*4 55*2
23
*16
23
*16
23
63
*55
*55
62
65
*45
55
55
*45
55
110% 110*2 1101- 110% 110%
130*4 130*4
132*4 130 130
85
90
*80
85
*80
20
19% 19% *1934 20
*43
46
46
*43
46
*80
85
83
85
83*2
98
103
98
*99
100
130
*127
130
*127
128
32
32
32%
31% 31%
64
64
62*- 63*6312
74% 75
74% 75-%
74%
+ 120
*120
130
130
130
50
50
*48
*48
50
20
20
*_
20
115
85
*_
!*
2234 227g
124% 126
50% 52
30*4 ♦20
*3
*14
*05
*95
17*2
65% 653s
44*2 44*2
161*2 164
*449
*12'
20
4
*12
♦3
*14
18
*05
70
*95
105
22*s 23
*57
60
441«
162
*159*2 164
34% 34%
*721- 73*2
75
Range wr Year 1907
On
Railroads
86*2
-
4
40
June 21
.
17
67
105
111*4 111%
*37
*
75
*_
135*-
62*4 527g
the
Week
Shares
.
20
9o-g
83
85
Sales of
....
■12434 125*2
50'8 5212
*
98
93*2 94
86
5212 5334
*
75
*1012 R% *10l2 12*2
*17*2 22
*17*2 22
21% 22
2134
55*4
94
88*4
*92*2
93
100
STOCKS
NEW YORK STOCK
EXCHANGE
(’ana.-liar. Pacific
24*8 3538
*70
93
*96
186*2 86*2
53*4
*15
445
87*2 8£
100
93*8
June 20
■
52% 52% Brooklyn Rapid Transit
Buffalo & Susque, pref
73
1673a 168*8 168*2 169*4 168 168*2 168*2 169*4 166*8 1 675s
*62
64
*62
163*2 63*2 *6134 63
anada Southern
63*2 *82
63*2
*170
180
175
180
*170
186
*170
185 *170 185
Centra) of New Jersey.
33
33*4
321o 3334
33*2 33%
33*8 33*2
32*8 32% Chesapeake A Ohio
20
*16
*15
*16*2 20
19*2 *16*2 10
16*2 1612 Chicago A Alton RR
53
50
52
59
Do pref
53*2 53*2 *
53
53
10
10*4 10%
10*4 103g
10
10*g
10
10*8 10% Chicago Great Western.
70
70
*68
72
*68
7212 *68
Do 4 % debentures
7212 *68
72*2
43
45
*44
46
46
437g 44*2 *43
*44
Do 5% pref “A"
48
16
*14*4 16
16
1334
*14*8
Do 4% pref “B”_
*14*8 16
*14*8 15
124% 125*2 125*4 126*4 125 125*2 12534 126*4 125 125*4 Chicago Mllw A St Paul
*150
151
149
149
*144*2 152 *145 148 ♦145 150
Do pref
1O012 109*2 *109 111 *108*2 110*2 *108*2 110*2 109*2 109*2
Do com ctfs 25 % pal d
130
130*4 131
130*2 129*2 130*4 13012 1307b 130%131
Do pref ctfs 25 % paid
140 UUgl 1411*1423* 141%, 111% 142 142*8 139*4 141*2 Chicago Ac North Western205 205
*205 209 * *205 203 *205 216
20478 205^"
Do pref.
125 125
*125 135 *125 135
*125 135 ♦125 132
Chic St P Minn A Omaha..
*150
180
*150 180
*150 180 *150 180
Do pref
*150
iso
*
*5
+_
8
*
*
7
7
7
7
Chicago Terminal Transfer.
23*4 23*2
5812 5H*2
162
93
88
+----
167%
*96
Friday
June 19
87*2 88*2
*92*2 93*8
971-
92*2
88
i67%
*14*4
97
Wednesday
PA4*ES
-
166
-
Bid
390
Metropolfnlj 155
Mt Morrlsli. 240
■280
Mutual I:
Nassau 1
195
New Amstcr 190
iNew York Co 1200
[New York.. 290
iN’ht A Day1] 400
il 9th Ward 11 300
jWorth Amer 260
Northern
jOriental 1J.
Ask
Banks.
....
165
Pacific
Park
If
People’s 1j__
291)
200
200
-
-
-
300
-
Phenlx
Plaza 1!
Prod Exch *
Riverside 1:_
Seaboard
172
182
Second
State 1;
34th Street.
il2th Ward 1!
265
275
{23d WardH.
410
270
....
Bid
A ill
230
425
300
155
570
100
250
350
250
435
165
-
-
-
o.O
700
350
220
450
190
-
1.5
200
‘
_
230
--
--
....
•
h 1st instal’mt
paid,
n
Sold at private sale at this price
June 22
Monday
June 15
June 17
20
20% 20%
*37% 40
*1234 13%
+2212 23%
*10% 11%
*23
*13
26
16
16%
*36%
16%
*300
10
40
§305
10*
*75
*13%
5%
*54
*97%
30%
85
14
82
*
*
40%
99
98
31
30%
*85
211
4%
66%
315
*4%
4%
72
105
5
23
04%
*192% 205
*4%
24%
*117
130
*61"
7%
*19% 21
*13
13%
71
71
59
*43
7
12
*10
*38
45
19%
*12%
19%
T3%
*70
*43
68
68%
*64%
66%
11%
50%
32%
§ 89
*158
12%
*11
50%
50
5U%
*22U
*891->
*101
*50
32%
§32%
321"
133
24
90
89%
91
97
37%
37%
*70
74
34
81
100
60
18
48
*98
99
68
*65
32%
97%
25%
*25
104
32%
97%
25%
6
6%
60
34%
80%
*79
*95
100
101
7
35%
120%
127
105
91%
*24% 25%
91
91
55
65%
56
7%
7%
7%
107% *107 107%
12
40
*10
*39
22
+90
22%
92
29%
23%
29%
13%
13
711
*70
*43
*22
*60
59
241
75
69
*65%
+04%
74
*110
11%
+<79
59
§0»2
*14%
>5%
901"
>01
66
+23
90
12%
*10*2
52
*50
24%
34
330
58
IS
47
341"
§68
68
‘IS
98%
32%
97%
97**
251"
1*142
146
*70
W1
55
55
18
46
*13
*25
*103
25
+103
«Si
306
80
*w
*145
165
*142
103
*3
*21
210
Do
1st pref
Do
2d pref
17% Wisconsin Centtal
Do pref
38-%
26
16
100
*13%
§5%
Do
pref
95
15
American Beet
81%
5%
American
Do
pref
Sugar
*52
40
_
105
4
25
94%
115
116
104%105
*1921" 210
*95
101
105
4
25
*102
*3
+21
04%
113% 11434
104% 105
*192%210
*-...
100
*95
71"
*7
♦634
7%
36% 36%
36% 361"
119*4 120% §120 120
125
127
*120
*129
*104
106
*103
105
*91% 91%
+91% 92
"
25
25
*25
25%
91
91
91
91%
53% 54
5412 55%
734
734
7%
7%
*102
112
112
*102
44
*39
44
*891.1
29*4
93
29%
29%
25
120
19%
13%
*17%
13%
59
*70
*43
16%
102
*66
*23
02%
103
68
114%
Do
Do
141
165
90%
1,553
10.650
2.078
$33
C7
10
371"
20 “
89
271"
20 "
jflO
1.520
800
100
.
I8I2 J neig
Ul4 May27
70% May22
68
100
4(j
lOO
97
$14
yv
65
211"
HI)
320
411
500
665
995
100
126
02
300
79
*143% 144
*77
*142
165
45% Jan 14
Jan 12
33% Feb i»
90 Jan 21
Mch 2.5
May29
J*Ue
4
May 2 7
May 20
Mch 25
Jan 2i
§7% Apr 2
68
3(To
203
200
28
600
200
Mch 2 5
Mch2(j
Mcb/itJ
J
May27
Jiio h
J’nc*
Mch 25
May?7
Mch 23
$24
Mcfas5
23% Ma4'2i)
31%
94%
jOi
55
250
78
142
§145
Mch 25
Mch25
May 7
May29
May28
Apr 26
44% Jan
Jan
Aug
11% Jan
10 Jan
43
Jan
94% Sep
29% Jan
53% Jan
7«u Jan
120% Jan
95
272
i6I% Jan
Jan
Jan
Jan
Jan
174
130
220
107
15% Jan
53% Jan
Jan
Jan
5
7
5
96
28
101
J’ly
109
Nov
48
Jan
Jan
J’ly
223% May
300
May 1
1051 o Nov
178
Jau
13% J’ly
40
Apr
3334 Dec
9834 Dec
40% May
17
May
130% Apr
18% J'ly
74I0 May
Jau
Feb 16
May 13'
4
3
8
7% May 2
Apr 25
Jan 7
Feb n
50%rfJan 15
41
Jan 7
81
Jau 14
75% Jan 24
71
Jan 24.
86% Jan 15
117% Mch 5
15% Jan 5
87
Feb 15
76% Jail 7
103
Jan 5
$201. Apr 18<
141t*Jan f
89% Jan 4
4U"Jan 5
24
181"
81
57
Jan
99% Jau
1*81% Jau
571" Jan
99I" Feb
'Jan
Jan
J’ly
Dec
16% Sep
Dec
80
48
28
71
Sep
Jan
Jan
62
May
113% Jan
12
82
66
May
Sep
May
100% i ’ne
J’ly
87% Nov
28% J’na
88
J’ly
13% May
50 J'ly
43
May
95
May
W.i
986,< Jail 4
16% Jan 15
60% Jan 4
10
24
180
8
10
Dec
44
97%J
jTy
22% May
15
7
_
91
68i"
7
May
107
Jan 11
J’ly
104% Oct
>62
Jan
120
7
4
$63% Mah 1
Jkn 17
8%
27-% Jan
67
Jan
118% Feb
34%' Jan
102
Jan
Jan
35
157
140
51
Feb la
138
Jan 16
91
Jan 14
Jan 22 1156
Feb 13
85
Aug
300
144%
127% May
8
28% Apr 6
140% Mch 1
24% Jan 22
88
Jan 28
89
ne?
J’ly
Dec
934 Nov
40
May
577sJan
97
I63
152
Jan
64
■
1281" Dec
130 " J’ly
Feb
7s
163
Dec
112
20()
100
Feb 15
40
61
Mch2G
92% Dec
138% May
2
4918
102
74
40
72.120
12-.250
1.135
103
I4I0
ne.>t
50T# Mch 25
30*4 Mc %5
333
390
8,450
prrif
Virginia' Iron Coal A Coke..
Ylf His Fargo A. Go
YY est-ernUidon Telegraph.
Westlngh’se El A Mfgassen.
Do
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65
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22
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_
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i,
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...
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11
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31
31
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92
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American Ice Securities
65
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62
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82
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127
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127
105
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105
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105
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13
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31
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6
113%115%
103%103%
119% 120
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36
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16
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On
June 21
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221"
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37
20
37
20
37% 37%
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23% 23%
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Jrtne 19
NEW YORK STOCK
EXCHANGE.
Friday
Thursday
June 20
Wednesday
June 18
/...<(:»
h’anpc lor Y<nr
basis o>
i-o
STOCKS
STOCJCS—HIGHEST A S’ D LOWEST SALE EH ICES
Saturday
1471
Record—Concluded—Page 2
j&iew York Stock
1907.)
Jan
May
5%'Se.P
,
Opt
43% May
83% Dec
52
109
75
24
May
Jan
1103s Jan
Feb
Jan
2134 Apr
70
May
49's
Jan
107% Jan
83% Jan
30% Nov
1813.4 Jan
28
Apr
85% Apr
74-V Sep
199 Jan
ll57<$ Jan
Oct
184
26% Jan
Jan
Jan
May
May
90
x96
60
92
791" Dec
118% Ott
181" Jan
88% Mch
95% Jan
106% Jan
1633.J
Jan
107
<Ja«
5 IK, Jfcn
103 " Jan
18% Nov
621" Jan
64% Jan
105 Fefe
Nov
270
6234
~~
107
413i
Jan
J>ec
an
1101
971i" Jan
"
113
Apr
1166
Nov
Oct
15% Jan
84 Jan
Jan
33
88
Jan
13i»5
Jan
Bid
Ask
425
450
145
275
320
941"Jan
Aug
40% J’ne
M(9j
84
J’ne
fit) Mch
Jan i
50i" Oct
38
J’ly
52i"I^)b 16
lt)9^s Jan 7 U04% JMy r115'Jan
75
May tK71" Jan
78% Jan 7
50% Oct
32% J"iy
50% Jan 7
113% Jan
98% J’ly
107% Jan r
$391" Mch 4
58
Jan
34
Jriy
39% Jam 7
117% Jan
108
Jan 9
1Q4
J'ly
Dec
03
97 Jan 22
Mch
305
Oct
3
300
J’ne 3§
'94% Jan
F5
Jjtn 10 xB3% Dec
Jan
176
148
Aug
154
Jan 2
p<8 Jan
162 Nov
§160 May23
68
t8 May
BAttSfS AND TRUST COMPANIES—BANKERS’ QUOTATIONS.
Bid
Banks.
Union Exc 1
U S Exch H.
Wash H’htsl:
West SldeH.
Yorkvllle 11.
Bid
Ask
220
240
122%
132%
600
400
Flirt
„„
Mechanic? T
160
400
315
Montana
155
Bom«
Naamu
Nat Cft*...
North BWfe
Brooklyn.
-
B road way U.
Brooklyn
.
f
175
450
.....
140
ProspoctPkJ
305
360
150
Terri(haal .I 140*
390
175
330*
300
475
Bowl'g Gr’n 430
BroadwayTr 150
225
Carnegie
Central Tr’st 1850
Columbia
210
350
500
440
160
250
2050
225
220
230
Tr
..
Commercial
270
315
Commonw’h
Empire
B^ultableTr
.
165
—
‘Farm LoAT
Rid and asked prices: Yto aaleaon tkta day. § L-'
tSile at Stock Exchange or at aucttonsthls wee.
•
Trust Co’s*
Fidelity
A
N YOUy.
Bankers’
426
Bid
Astor
225
^anntectfR’
Borough IT-
Trust Cos.’
Ask
335*
145
350
Fifth AvTr.
Fulton
Guaranty Tr
Guardlarp Tr
Hudson
l^jilck’b’ker
■
Law TldfTr.
Lincoln Tr_.
Manhattan
1250
Ask
222
550
325
510
245
105
275
48#
240
95
1190
230
310
_
Mercantile.580
Trust Co's
Bid
120
Mutual
Mtat Alll*nce 195
NYIJfeATr 1000
NewYork Tr t*50
Standard Tr
....
Title Gu&»Tr 450
Tr Co of Am 690
Union Trust 1250
460
US MfgATr
Unit States. 1200
YanN*denTr 280
695
Washington 400
195
725- Windsor
250
460
850
_
Motpopollt’n
....
Bid
215
Trust Co’s
Aik
130
205
•
-
670
410
710
1300
470
1230
....
....
2J0
Brooklyn.
Brooklyn Tr
Citizens’
...
Flatbush
Franklin
Hamilton
Home
Jenkins
_.
135
250
310
315
150
Kings Ox__ 475
List LATr._
Nassau
People's
than 100 shares. tEx^rlghts. bNew stock, cEx- dividend andrlghts. dNow quoted
sTrust Co. certificates. It Banka nfarked with a paragraph (11) are State banks.
300
250
!16%
W’llflamsb’g
330
100
190
310
270
2*2*5*
dollar# per share
New York Stock
Exchange—Bond Record, Friday, Weekly and Yearly
OCCUPYING
POUR
PAGES
<0
BONDS
Rriee
Weekfe
N. Y. STOCK EXCHANGE
Week Ending Juke 21
Friday
Range or
June 21
Last Sale
cC
Bid
l). S. Government
Vila conaol registered.dl930
Vilaocmooi coupon..,.dl930
U ft 3s registered
A:1918
U S 8s coupon
/cl918
U S 8s reg small bonds..fcl91«
U 8 3s eou small bonds../el918
U S 4s registered
41907
U & 48 coupon
....41907
¥ 8 4b registered
1925
¥ 8 4s coupon
1925
U 8 Pan Can 10-30 yr 2§.fcl98b
-J
-J
-F
-F
•F
-F
-J
-J
Sines
So
aqig January J
High Ho Low High
10441064
10441064
1024 May’07
1U24102*4
8 1024104
1024 102*,
Ask Low
104*4 106
1064 1064
102 4 102*4
1024 108*4
1044 Apr’07
1064 J’ne’07
•.
.
....
....
107
1014
10041014
10041014
12841294
1284 139 4
10441064
1094
J’ne’02
1044 Oot ’06
1004 1004
1004 J’ne’07
180 May’u7
129*4 May’07
106 4 Oct ’06
111
May*O0
BOND8
Fnee
N. Y. STOCK EXCHANGE
Wiu Ending June 21
Friday
Range
S’*
1 10041014
Cent of Ga RR—(Con)
Chatt Div pur mon g 4s.1951
Mac A Nor Div 1st g 58.1946
Mid Ga A Atl Div 5s....1947
Mobile Div 1st g 5s
1046
Oen RR A B of Ga col g 6s 1937
Oent of N J gen’i gold 5s. 1987
June 21
M-N
J-J
103^4
ioT*
or
Last Sale
Ask Low
93
115 4
—
115
115 4
I"
Bid
J-D
J-J
J-J
J-J
Weekfs
Range
High
Is
5
•3$
.c
Ho
Range
Since
January 1
Low
High,
J’ne’OO
Dec’05
Nov’05
Aug’OO
101*4 1024 Mav’07
1234 134 124 J’ne’07
1214 1214
1214-—
109 4 Apr’07
1094
1024 108
1234 i2(»4
121 4126
41987
Registered
1094 HI
Am Dock A Imp gu 6s..1921
J-J
Le
A
Hud
R
-F
gen gug5s 1920
100
100
May’07
M-N
c99*< 100 4
Leh
A
Wilks
B
6S..1912
Goal
12941804
-F
984
084J’ne!O7
974101
Con ext guar 44s
01910
100
N Y A Long Br gen g 4s 1941
Philippine islands 48.1914*34
Pnb wks and Imp rest 4s 1935
Cent Pacific See So Pacific Co
88 May’07
85
Pub wks and imp ref...1980
884
OentVermont 1st gn 94s.«1920 Q-F
ChasASav See Atl Coast Line
1014
100
105
Government
..
10
Apr’07
Foreign 4
Ohes A Ohio1
A-0
g 6s ser A..41908
104
630
104
107
.Japanese
.
4
6
1
May’07
A-0
Sals
99
96*4 1004
984
Govt
6s sterl’g.1911 A-0 X 984
29 110
110
116
ad aeries 6s
1911 A-O * 984 Sale
984
1st oon sol g
984 128 9641004
1939 M-N 110 1104 110
116
J’ne’06
A loan 44s etfs full pd.1926 F-A i 914 914 914
914 191 87*4 944
Registered
1939 M-N
56
2d series 4 V} etfs full paid. J-J I 904 Sale
108 874 924
904
91
09*4 1054
General gold 44s
1992 M-S i*004 Sale 1004 101
104 May’06
82
A loan 4s etfs Ml paid..1981 J-J ? 82
Sale
884 80 79
864
.....1992 M-S
Registered.;
112
108
Feb’06
20
102
1024
i102
4
Sale
984
J-J
1084
Bepub of Cuba 6s exten debt.. M-S
Craig Valley 1st g 6s....1940
98
90
96 4100 4
99
J’ne’07
U H or Mexico h l g os of 1899 Q-J
974 May’07
964 99
BAA Dlv 1st eon g4s..l989 J-J
92 4 Mar’07
92
90
Gold 4s of 1904
7 92
96
1954 J-D
924 92
924
024 924
2d consolg 4s
1989 J-J
1134 Feb’05
Warm Spr val 1st g6s.. 1941 M-S
XT here are pr tees on the b a*<i of $5 to A.
tttate Securities
100
994
Feb
*06
Greenbner Ry lstgu g 4s ’40 M-N
til
Mar*02
Alabama curr fund 4s ....1920 J-J
7534
764 May’07
Ohio A Alt RR ref g 8s...1949 A-O
754 SO
67
iii 4
66
Diet of Columbia 8’65s....l924 F-A
664 674 67
1174 J’ne’06
764
Railway 1st lien 34s.-.1960 J-J
80 4 May’06
1054 Dec’04
Louisiana new consol 4s..1914 J-J
Registered.
1950 J-J
101
994
1004 Apr’07
994 J’ne’07
North Carolina consol 4s.1910 J-J
1004 1004 Ohio Burl A Q—Denv D 4s 1922 F-A
984 100 4
126
Mar’07
894
126 126
894
894
89
6s
1919 A-0
924
Illinois Div 34s
1949 J-J
90
120
Mar’OC
’Ob
Sep
8c Carolina 44s 20*40
1933 J-J
Registered
1949 J-J
100
103
964 964 954 May’07
95
96
10141024
1024
J’ne’07
Teem new settlement 8s..1918 J.J
Gold 4s
1949 J-J
106 May’07
106
106
984 May’07
084 954
Iowa Dlv sink fund 6s.. 1919 A-O 105*4
Virginia fund debt 2-8s...190j J-J
24
26
28
25
20
16
9941004 994 J’ne’07
6s deferred Brown Bros etfs.
28
984 104
Sinking fund 4s
1919 A-O
100
J’ne’07
100 102
Nebraska Extension 4s.1927 M-N 1004101
Railroad
1014 Deo’06
Registered
....1927 M-N
100
96
J’ly’00
Southwestern Div 4s....1921 M-S
laba Midi Ass At Coast Line
Joint bonds See Great North
1004
J’ne’07
M-N
Debenture
5b
1004104
1918
A
Susa
<ft
Hud
Albany
See Del
1064
1054 May’07
Han A St Jos consol 6s. .1911 M-8
Allegheny Valley See Penn KK
105*4 109
93
92
92
9S
Ohio A E III ref A imp g 4s 1966 J-J
Apr ’07
Alleg A West See Bun R A P
=.
88
88
J’ne’07
Ann Arbor 1st g 4s
814 91
1st s t our 6s
1907 J-D 1004-..-- 103 May’07
41995 Q-J
1004103
127
126
98
Bale
i‘22
120
120
May’07
Atch T<fe S Fe—Geu g 4s. 1995 A-O
984
984
964102 4
1st oonsoi g 6s
1934 A-O
97
1
974 97
1124 1114 May’07
111
Registered
General consol 1st6s....1937 M-N
1174
03*4 1014
,.1995 A-O
86
20
80
H84Feb’O0
864
M-N
80*4
Adjustment g 43
41995 Nov
024
Registered
1937
100
86
86
1134 Feb'07
80
Cblc A Ind C Ry 1st 58.1936 J-J
11841134
Apr’07
41995 Nov
Registered
85 4
6
854
854
Stamped
41995 M-N
864 924 Chicago A Erie See Erie
94
Sale
1244
1244 1244
Oonv g 4s
84 92*4 1084 Ohio In A Louisv ref 6s...1947 J-J
934
94
12441204
1965 J-D
99
00
Feb’07
09
1114 J’ne’07
107
99
Debentures 4s Series F. 1908 F-A
1114
Refunding gold 5s
1947 J-J
105
*104
May’o7
104 4105
G
994
J-J
Senes
1909 F-A
Louisv N A A Chlstes. 1910
984 May’07
984 *84
105
98
Feb’07
103
Senes H
1910 F-A
96
1054 May’07
96
Ohio Mil A St P term g 5s 1914 J-J
lu64
101
103
1034
101
Senes 1
1911 F-A
107
984 Nov’04
General g 4s series A..«1989 J-J
104 4 Oct’06
94
Nov’06
Series K
1913 F-A
Registered
«1989
»
93
93
91
89*4 804
98
May’07
894
Bast Okla Dlv 1st g 4s.. 1928 MS
General g 34s series B.el089
89*4 93*4
108
1154 Oot ’05
All Knox AN See LAN
Ohio A LSuDlvg5a....l921 J-J
1114
111
111
95
Sale
6
111
Coast
1st
J-J
Atlantic
954 964
95i»4
924 984
1134
g 4s.41952 M-S
Chic A Mo Riv Div 6s...1926
1054 May’07
Charles A Sav 1st g 7s.. 1930 J-J
Ohio A Pao Div 6s
1910 J-J 106
10541054
111
Ill
111
J-J
Bar F A W 1st gold 6s.. 1934 A-O 123
110
112
Jan ’06
Chic A P W 1st g 5s
1921
106
100
106
1st gold 5s
1124 Jan ’04
Dak A Gt So g 6s
100*4
1934 A-0
1916 J-J 106 4
1374J’ly’90
Ala Mid 1st ga gold 6s ..1928 M-N
Far A Sou assu g 6s
1144 Nov’05
1924 J-J 1194
109
91
J’ne’07
00 4 Mar’08
Bruns A W lstgug4s ..1938 J-J
Hast A D Div 1st 7s
1084 109
1910 J-J 100
100
824
824 J’ne’07
82
LAN coll g 4s
Aug’U4
804
1st 6s
1910 J-J 1014
01962 M-N
182
91
98
J-J
4
811 Sp Oca A G gng4s ..1918 J-J
90*4 Deo ’06
IA D Exten 1st 7s*.
Apr’06
1908
1084
Allan tic A Danv See Sontli Ry
1084 J’ne’07
LaCrosse A D 1st 6s....1919 J-J
1084 1084
102 4 Apr ’07
Austin A N W See Sou Pacific
1024103
Mineral Point Div 5s....1910 J-J 103
02
924 25 804 984
L054
1054
924 Sale
Ttalt A Ohio prior lg 3 4s. 1925 J-J
So Minn Div 1st 6s
1910 J-J 1064
1024105*4
13 Registered
104
104
Jan’07
104
104
894
924 May’07
924 924
Southwest Div 1 st 6s... .1009 J-J
41925 Q-J
109
110
J’ne’07
Gold 4s
984 Sale
984
41948 A-O
094 38 9841024
Wis A Minn Div g 6s.... 1921 J-J
1074110*4
95
09
J-D
4
98
Mil
A
No
IstM
1014
1064
Feb
May’07
L6S....101O
’07
1014
Registered
41948 Q-J
1064 107
107
J’ne’07
120
Oot ’01
107
Pitts Juno 1st gold 6s...1022 J -6
1st oonsoi 6e
1114
.1913 J-D 1064
86
87
86
3 80
1184120 1184 May’07
PJun A M Divlstg84sl025 M-N •
90
118*8 121
OhloANorthw cons 7s....1015
9l4Sale
1014
1014 May’07
P L E A W Va 8ys ref 4sl941 M-N
914
0L4 10 914 96
Extension 4s..
1014 102
1886-1026
104
Feb’07
12
104
104
Southw Dir 1st g 3 4s...1925 J-J
88
88
87*,
87*4 90*4
Registered
1886-1926 F-A
92
93
J’ne’07
89
Oct
’00
M-N
4 93
92 4 9S
General gold 84s
Registered
41925
1987
ioi
91
05
Feb’07
95
95
Monon Rlv 1st gu g 6s..1919
1064 Feb’07
1064 1064
Registered
»1987 Q-F
13 100
109
107
107
107
Oen Ohio R 1st og44s.. 1939 M-S
Apr’06
Sinking fund 6s...1879-1929 A-O ♦ 107
108
til Lor A W oon 1st g 6s 1933 A-O 10941114 110
110 1134
1064 J’ne’07
10641064
Apr’07
Registered
.1879-1929 A-O
107
J’ne’07
110
107
107
Ohio River RR 1st g 6s. 1930 J-l)
May’OO
Sinking fund 5s...1879-1920 A-O ♦ioo*
•
1074 J’ne’06
General gold 6s
iii4 118 4 Nov’06
1987 A-O
Registered
1879-1929 A-O
111
M-N
1004
1004 J’ne’07
100 4 1024
Pitts Clev A Tol 1st g 6s 1922 A-O
1194 Mar’04
Debenture 5s
1909
Mar’07
04
994
98
Pitts A West 1st g 4s... 1917 J-J
924
94
J01
94
994 J’ne’07
Registered
1909 M-N
100
107
Jan ’07
Nov’04
Stat Isi Ry 1st gn g 44s 1943 J-D
107
Debenture 5s
107
1921 A-0 104
103
J’ne’07
103
103
Bat Greek A S See Mich Oent
Registered
1921 A-0 103
1134 Apr’07
Beech Oreek See N Y C A H
1134114*4
Sinking fund deb 6s.. ...1933 M-N
117
Feb’06
Bellev A Oar See Illinois Oent
Registered
1933 M-N
North Illinois 1st 5s....1910 M-S 1004...... 1054 Dec'06
Hklyn A Montauk See Long 1
Bruns A West See Atl Coast L
1004
Ott C F A St Paul 1st 5s 1909 M-8
1004 May’07
1004 1024
Buffalo N Y A Erie See Ene
Winona A St Pet 2d 7s..1907 M-N IO04 1014 1014 May’07
10041014
112
Mil L S A West 1st g 6s 1921 M-N 119
Buffalo RAP geu g 5s... 1937 M-6
1214 1214 1214
1144 1114 May’07
1184
1214123*4
97
113
L02
Ext A Imp sfund g 5s 1920 F-A 1104
1134 May’07
All A West 1st g 4s gu..1998 A-O
1084 Feb’07
1134
1084
103
142 4 Feb’02
Ashland Div 1st g 6s..1926 M-S 1224
Cl A Mah 1st gu g 5s....1943 J-J 110
Apr ’97
122
J
Boch A Pitts 1st g Os...1921 F-A 1164
124 Apr’00
Mich Div 1st g 6s
4
1284 Feb’06
1924
109
Consol 1st g Os
118
118
2 118
Incomes
1922 J-0 •
118
Sep ’03
1911 M-N 100
1294
1174 1174
Buffalo A Southwest See Erie
Ohio Rook Isl A Pao 6s...1917 J-J
1154
ilT
Buff A Susa 1st ref g 4s.<U961 J-J
944 Apr’07
1164 Mar’07
1164 1164
894 964
Registered
1917 J.J 1104
General gold 4s
BurCRAN See C R I A P
98*« 1004
1988 J.J 100 1004 90*4 1004
/Canada South 1st 6s
99*4 Feb’07
1908 J-J 1024 Sale 1024 1024 28 100 1024
904 094
Registered
1988 J-J
wSd 6s
2 101
1913 M-S 1024
1024 1024
874 sale
874
874 914
1054
874
Refunding g 4s
1934 A-0
M-K
97
Coll trust SerlesH 4a
1910
944......
100*4 May’07
J’ly ’04
100*4 1094
Registered.....
1913 M-S 1004
Carb A Shawn See III Cent
J 4s
924
Nov’O0
1912 M-N
914
87
M4s
Carolina Cent See Seab Air L
1915 M-N
904 Jan ’07
004 904
N 48
03
1916 M-N
May’04
Carthage A Ad See N Y C A H
864
OedRIaFAN SeeBCRAN
O 4a
864
1917 M-N
904 Feb’07
904 904
P 4s
86
May’07
84
00
Oen Br&non Ry 8ee Mo Pao
84
1918 M-N
M-N
Sale
60
Oent of Ga RR 1st g 5s..pl946 F-A
69
110
Mar’07
116 110
Ohio R IA Pao RR 4S..2002
77
674
694
N
M-N
M
79
’05
Consol gold 5s
103
102
10
Deo
1945
Registered
2002
1084
1024111
4 1084
118 Apr’06
Coll trust gold 6 s
82
85*4
Registered
1945 M-N
844 _ 85
1913 M-S
914
Bur Ced R A Northern—
85
90
latpref Income g 6s....pl945 Oct
86*4 86 M^y’67
•
Oon 1st Aooltrg 5s...1934 A-0 11441154 1144
86
86
90
1144
1144117
88
.May’07
Stamped
2a pret income g 6s....pl945 Oct
70
7o
70
Registered
1934 A-0 1114
l204MarM)3
76
May’07
CRIF A N W lstgu 58.1921 A-O 105
111
Nov’05
74 May’07
73
744
Stamped
3d prer income g 5a....pl945 Oct
M
A
69
St
L
1st
J-D
68
58 May’07
66
gu g 7s..1927
60
66
62
62
Stamped
Apr’07
$:?
3:1
....
?:J
10041014
129
130*4
....
....
3:2
....
....
—
oil
......
-
m
m
mmmmm*
mmm
«
*•*
r
tftf
T _ _
pv|rt
w
....
....
Alabama Cent See So By
....
li
....
i’324
•
......
•
....
K
n
....
....
....
.
.
,
......
i\7^
....
..
....
MISCELLANEOUS BON OS-Continued
KaiKvuy
Brooklyn Rap Tr g 5s
1945 A-0
1st refund conv g 4s....2U0‘2
BkOity 1st oon 5s.1916.1941
£k Q Co tfe S oon gn g 5s. 1941
Bklyn Un El 1st g 4-5s.l960
Stamped guar 4-5s
1960
Kings Co El 1st g 4a.... 1949
Stamped guar 4a
1949
Nassau Eleo gu g 4s ....1951
Conn Ky«fe List A ref g 44s’51
Stamped goar 4 4s
1961
Den Oon Tr Co 1st g 5s... 1933
Det United 1st oon g 4 4s. 1932
Havana Elec consol g 5s. 1952
Iater-Met coll 4 4s
1956
Intqrnat Trac coll tr 4s.. 1949
Leals Ky Co 1st oon * 6s..1930
Manila Eleo 1st A 00R 6s.l958
*
No price
on
Next Page.
Street Railway
Street
J-J
J-J
101
804
1024
1014 J’ne’OT
604 804
80*4
1024 1024
M-N • 984
100 Apr’07
F-A
104
Bale 102
104
F-A *104
102
102
F-A
87
Feb’07
F-A
88*4 J’ne’07
834
J-J
804 814 J’ne’07
J-J
1054 984 AIay’07
lOiK
J-J
98*4
9«*4 J’ne’07
95
A-O
J-J
F-A
A-O
J.J
J-J
M-S
86
78»4 Sale
Friday; latest prioe this week,
100
108
71
4
794 924
1024 1034
100
38 100
5 102
87
....
r
TT
t
....
1014
108
104
89
834 884
86
984 1024
70
98*4
98*4
""
8(>4 J’ne’o7
864‘864
83
83
71*8
08
109
98
a Due
J’ne’OO
83
107
Jan
J’ne'07
744
68
Mar’98
154
10
93
724 82
68
73
May* 06
d Due Apr
$
Due May
Met St Ry gen
Ref g 4s
eol tr
5S.1997 F-A
2002 A-0
Bway A 7th Av 1st 0 g 5s 1943 J-D
g
Col A 9th Av 1st gu g 5s. 1993
Lex Av A P F 1st gu g 5s 1993
Third Ave RR oon gu 4s 2000
Third Ave By 1st g5s.. 1937
Met W 8 El (Ohio) 1st g 4s. 1938
Mil El Ry A L 30-yr g 5e.l926
M-S
M-S
1034 May’07
75
76
1044 1074 1044JW07
109
112
1134 Feb’07
100
79
86
J-J
J-J
F-Ai
98
F-A
$04
City Cab oon g 5s. 1937 J-J
Underground of Lon 6s... 1908
Union El (Ohio) 1st g 6s..1945
United RRs San Fra f 4s.1927
United Bys 8t L 1st g 4a.l934
W Ohio St 40-yr oon g 5s. 1936
yDoeJ’ne
ADue J’ly
J-D
A-0
A-0
J.J
M-N
k Due Aug
J’ne’07
704 Sale
U14
93 4 J’ly ’06
109 J’ly’06
1074FeD’06
00 4 Sep ’06
1034 Oot ’06
1104 Not’06
704
100
68
72
804
oDue Oot
*2
1
704
Due Nov
76
85*1044113
110
85
111
704
100
Jan ’07
67
804
67 J’ne’07
804 J’ne’07
99
Dee’97
p
10241084
11341134
May’07
1114 1114
••••••
Minn St Ry 1st oon g 6s..1919 J-J
N Orl By A Lt gen 44s ..1985 J-J
St Jos RyLtH 3b Plata 6s’37 M-N
St Paul
110
86
*6
*
Option
110
89
1144
94
100
834
86
BONUS
N. Y. STOCK EXCHANGE
Wbkk Kudins June 21
c* a
'
•'iS
Ohio Bock I A Pac—(Con)
Choc Ok & G gen g 5s .ol919 J-J
Consol gold 6s
1952
Keok A Des M 1st 6s....1923
Ohio t*t L A N O See ill Cent
Chic St L 4k Pitts See Bean Co
Ohio St P M & O con 6s...1930
Cons 6s reduced to 8 4s.l93o
Cli St P A Minn 1stg6s 1918
Nor Wisconsin 1st 6s...1930
St P A S City 1st g 6s...1919
Chicago Ter Trans g 4s...1947
M-N
A-O
Price
Week’s
lYidav
Range or
Last Sale
June
But
103
ji.sk Low
109
1084 111
103
Since
January 1
Re
Low
High.
Nov’OH
May’00
103
103
1264
103
1264
95
Dec’03
1244
Feb’07
Mar’U4
1314 131*4
68 91932 Q-li
10934
1314
1294
1184
974
109 4
109 4
May’()7
Apr’o7
May’07
J’ne’07
Apr’07
974
116*120*4
9734 974
97
1094
1094 113
97* 98
116*81184
EmCBUP.
cm H A D ad gold 4 *os...1987
Cin L A I 1st gu g 6s...1941
CFlnd A Ft W1st gn 4s f .’23
cm 1 A W 1st ru g 48.1963
Ind Deo A W lst.g 6s...1986
1st guar gold 6s
1935
01 St LAC SssOCOAStL
ClnSAC See O C C St L
Clearfield A Mah See B R A P
01 st Cln O & st L gen g 4s 1993
Cairo Dly 1st gold 4s....1939
Cin W A M Dtv 1st g 48.1991
St L Dlv 1st ool tr g 4s.. 1990
W W Val Dlv 1st g4s...1940
C 1 St L A C oonsol 6S..1920
1st gold 4s
vfcl986
lleirlstered
kl936
Cin S a Cl con 1st g 6s. .1923
1914
0 C C iVs 1 consol 7s
Consul sin k fund 7s. ...1914
G eneral consol gold 6s. 1934
113
102
J-J
M-N
M-N
J-J
J-J
894
88
J-J
J-D
J-J
J-J
M-N
J-J
M-N
s
J-D
J-D
J-J
06
Oct’00
J’ne’07
102
88
Jan ’07
1044 Feb’07
107 4 Leo’02
105 4
88
83
1044105
*9*84
85
96
964102
99* 99*
97
08 4
98
9834
97
97
Jan ’07
97
994 Feb’05
Sep ’06
96
98
105
Jan’04
974Mar’o7
984 Apr’07
97*4
974
084
99
994
108V
1144
109
1184 Jan ’07
11841184
129
1294 J’ne’07
1294 182
1984 J-J
J’ne’07
109
109
1044Nov’01
J’ne’07
9?
65
55
69 7e
68
69
67
89 4
8834
744
944
96
96
69
FA
8S4....
914
884
96
35
Feb’07
914
95
7234
55
A-0
A
1024
DelLaokA Western 7s...1907 m-s
110 4
MorrlsA Essex 1st 7s...1914 M-N
lstoonsol guar 7s
1915 J-l> 1174
Registered
1916 J-l)
let ref gu g 3 4s
20ui J-D
122
Sale
N Y Lack A'W 1st 6s.. .1921 J-J
Construction 5b
1925 F-A *109
95
Term A Improve4s....1923 M-N
Warren 1st refgug 3 4s. 2000 F-A
123 4
Del A Hud 1st Pa Div 7s. 1917 M-S
Registered
1917 M-S 121
95
Sale
10-yr oonv deb 4s
1910 J-D
92 4 93
▲lb A Bus conv 3 4s
1940 A-O
Bens A Saratoga 1st 7s.1921 M-N
Dei Riv RR Bridge See Pa RR
Denv A R Gr 1st oou g 4s. 1930 J-J
Consol gold 4 4s
1930 J-J
Mgeand col trust 4sA. 1949
Utah Cent lstgu g4s al917
Des Moi A Ft 1> See M A St i.
DesMoi Un Ry 1st g 5s..1917
Det A Mack 1st lien g 4s. 1995
1937
12S
93 4 Sale
100
104
J-l)
1024 May’07
117 4 J’ne’o7
121*4 Apr’Ol
127
122
82
102
138
149
924
122
934
95
102 4 Jan ’07
105 4 Feb’07
76
A-0
97
Jan’02
M-N
110
92
904 89
Mar’07
834
1U9
A-O
2d Os
1910 J-J
Dal Short Line See Nor Pac
Dul So Shore A Atl g 6s..1937 J-J
AteeStPMAM
Fjast Ten Va A Ga See So Ry
112
g 5s. 1941
Elm Cort A N o See Leh ANY
Erie 1 st ext gold 4s
1947
2d ext gold 5s
1919
3d ext gold 4 4b
1923
4th ext gold 5s..
1920
6tli ext gold 4s
1928
1st consol gold 7s
1920
1st consol g rand 7s
1920
Erie 1st oon g 4s prior.. 1990
Registered
ist consol gen
1990
lien g 4s.. 1990
Registered
Penn ooll tr g 4s
50-year oonv 4s A
1990
1951
1958
M-N
M-N
M-S
M-S
A-O
J-D
M-S
M-S
J-J
J-J
J-J
J-J
F-A
A-O
A-0
J-D
J-J
M-N
do
Senes B...1953
Butr N Y A Erie 1st 7s..1910
Bull A S W gold Os
1903
Chic A Erie 1st gold 6s.. 1982
Clev A .Malmu Val g 6s.193s J-J
Jeff RR 1st gn g 5s....al909 A-O
Long Dock consol g Os.. 1935 A-O
Coni A RR 1st cur gn Os. 1922 M-N
Dock A Imp 1st cur Os..1913 J-J
N Y A Green L gu g os. 194&IM-N
11
94 41094
92
110
93*4 974
10241024
10434 106 4
914
96
874
87*4
92
89
92
02 4
Sep’04
Apr’07
Kq G LN Y 1st oon
g 6s..1932
Gas A Elec Berg Co c g 5s. 1949
Gen Elootric deb g 0 4s.. 1942
Gr Rap G L Co 1st g 6s...1015
Hudson Co Gas 1st g 5s..1949
Kan City (Mo) Gas 1st g 6s 1922
Kings Co El LA P g 6s...1937
1114
111
Jan’07
11041184 1104 J’ne’07
100
106
1074
104
1074
98
1274
94
96
80 V
80
Sale
764
69 7s 70
1164 Sale
1134116
111
1004
130
i*0*7** “I”
110*112
110*4 110*4
...
107 4 Jan’06
109
109
Apr’07
103 4 May’07
110 4 Oct ’06
100
J’ne’07
127 4 j’ne’07
183
Feb’06
94
J’ne’07
99 4 Out ’06
85
814
86 4 Feb’07
SO
80
77 4 J’ne’07
72
J’ne’07
1164
1164
104n8 Feb’06
115
May’07
116 4 J an ’05
100«8 May’07
126
May’07
118
Sep’06
LU97e Oct ’06
J-J
F-A
M-S
J-D
F A
F-A
M-N
A-0
A-O
A-O
109
10341084
100
125
6
28
1004
1294
984
994
80
88
854
854
80
76
914
103*4
72
87
10 1164 1204
116
119
1004 101
130
126
J-J
A-0
A-0
A-0
Range
■2
Since
0
January 1
Low
Ro
108
High
1104
100 4
Feb’07
1103s May’07
1004103
110*8 L104
1037s J’ne’07
1037«103 4
105 4 105 4 Apr’07
116
Apr’06
10641054
116
J’ne’07
117
1044 104 4 Apr ’07
110
116
104 4106*
114
Apr’05
1064 Feb’06
105
107
107
Ft W A Den C 1st g 6s....1921 J-D
Ft W A Rio Gr 1st g 4s... 1928 J-J
/lalHarASA See So Pac Co
v Jal H A H of 18821st 68.1913 A-0
844
86
Mar’98
100
i*064 i*i*3*
107
84 7e
844
Mar’07
84
87
100
103
See Sea A Line
See Sea A Line
Georgm Pacific See So Ry
Glia V G A Nor See So Pac Co
Gouv A Oswegat See N Y Cent
Grand Rap A Ind SssPenn RR
See St L S W
Gray’s Pt Term
94 4 .Sale
coll tr 4s 1921 J-J
Registered./i
1921 Q-J
Greenbrier Ry See Ches A O
Gulf A S11st ref A t g 6s 61952 J-J
Gt Nor—C B A Q
98
Han A St Jo See C B A Q
ousatonlo See N Y N H A H
Hock Val lstconsolg44s.l999 J-J
Registered
1999 J-J
Col A H V 1st ext g 4s..1948 A-O
Col A Tol 1st ex 4a
1965 F-A
Houst K A W Tex See So Pac
Houst A Tex Cen See So Pac Co
1st gold 34s
Registered
Extended 1st g3 4s
1st gold 3s sterling
Coll Trust gold 4s
103
70
125
100
104 4 May *07
08
May’07
124
J’ne’07
100
100
105
86
J’ne’07
Apr’07
Feb’07
61 4 Oct ’01
864 Apr’»)7
1073i Dec ’00
102
104
98
Apr’07
103
1961
10441074
03
116
78 4
1394
100
100
100
105
100
106
"8*6" *87*
1*03** ioi*
latest bidand asked this week, v Due Jan
116
5 Due Fob
117
984
Vs*' min
89
98
102-4
103
103
Nov’UO
102
1054
99
98
98
09
1074 1074
Oct ’04
98 V
May’D'i
98*4 May’07
07
May’07
102*4 Jau ’07
80
May’07
100
1004
98
1024
98
98 4
97
98
108 4
07
1024 102*4
89
91
May’09
784 Apr’00
123
*80*
1951
1951
78*4 Feb’07
784
784
89
Mar’07
]0llsOct ’99
884
89
100
994
1951
1951
984
97
111
96
70
Nov’OO
1004 Apr’07
122
Dec’05
97
Mar’07
1184 Apr’07
1104 Mar’04
93*s M »> ’04
1004 102
100 4 May’07
97
Mar’07
100 4 1004
97
97
93 4 May’07
112
J’ne’u/
96 4
96*4
65
May’07
102 4 J’ne’07
104
Feb’07
794 85
98
Sale
70
704
63
Oot ’00
97
97
1184 H84
934100
05
1154
994
65
70
111
75
102 4111
85
85
16
874
78
See LAN
Lake
Erie 5s
A W 1st g 5s. .1037
2d gold
1941
J-J
J-J
North Ohio 1st gu g 5s.. 1945 A-O
L Sho A Mich S See N Y Cent
Leh Vai N Y 1st gu g 44s.1940 J-J
registered
1940 J-J
Lehigh Val (Pa) cons g 4s.2003 M-N
Leli V Ter Ry 1st gu g 5s. 1941 A-O
Registered
1941 A-O
Leli V Coal Co lkt gu g 6s. 1933 J-J
Leli ANY 1st guar g 4s..1945 M-8
Registered
1945 M-S
E1C A N 1st pf 6s
1914 A-0
Gold guar 5s
1914 A-0
Leh A Hud R See Cent of N J
Leh A WUkesb See Cent of N J
Leroy A Caney Val See Mo P
Long Dock See Erie
Long Isl’d—1st con g5s./il931 Q-J
1st consol gold 4s
General gold 4s
gold 44s
ftl931
1938
u
M-S
Gold 4s
1932 J-D
Unilied gold 4s
1949 M-S
Debenture gold 5s
1934 J-D
Guar ref gold 4s
1949 M-S
Bklyn A Mont 1st g 6s..1911 M-S
1st 5s
....1911 M-S
N Y B A M B 1st con g 5s 193b A-O
N Y A R B 1st g 5s
1927 M-S
Nor ShB 1st oon ggu5sol932
S
Louisiana A Ark 1st g 5s. 1927
1124 1124 J’ne’07
107 J’ne’07
1064108
109 4
110
112
1124114
1004 1077*
Apr’07
110
1073& J’ne’07
106
May’OJ
106
96
1104
1064 1074
106
Oct ’06
1154 113 4May’07
109 4 Oct ’99
112
1124 May’t)7
113 4 1184
i*l*2 4 1*12*0
9538 J’ne’07
964
904
1134 Jan ’06
1064 Jan’06
'102*4
904
1124
1124
*"93*
92
102
1922
96
112
044
1144
92** *99*'
J’ne’07
Nov’()6
994 Oct ’06
947s Apr’07
110
914 Sale
1124
94
95 4
J’ne’04
9*4
■*044**99*4
Mar’07
ibo** i'oT4
10*
1004
100
105
1104Nov’06
105
Apr’07.
109
Nov’06
103 4 Feb’07
105
1094
i034 1*0*34
Next Page.
Gas and Electric Light
Lac Gas Lof St L 1st g 6s.«l919 Q-F
Ref and ext 1st g 5s
1934 A-0
Milwaukee Gas L 1st 4s.. 1927 M-N
NYGELH&Pg 6s...1948 J-D
Purchase money g 4s. ..1949 F-A
Ed El Ill 1st conv g 5s..1910 M-S
1st consol gold 58
1995 J-J
NYAQK1 L<fcP 1st oon g 5sl930 F-A
N Y & Rich Gas 1st g 58.1021 |M-N
Pat & Pas GJfc E con g 6s. 1949 M-S
Peo Gas A C 1st con g 6s.1943 A-0
Refunding gold 5s
1947 M-S
Ch G-LACke 1st gu g 5s 1987 J-J
Con G Co of Ch 1st gu g 6s.’36 J-D
Mu Fuel Gas 1st gu g 5s.1947 M-N
Syracuse Lighting 1st g 6s.'61 J-D
Trenton G A El 1st g 6s.. 1940 M-S
Weetohester Light’g g os.1950 i-D
A Due Apr e Due May
984
70
•
Ind Bl A West See O O C A St L
Ind Ill A la 1st g 4s
1950
Int A Great Nor 1st g 6s..1919
2d gold 5s
1900
3d gold 4s
1921
Iowa Central 1st gold 5s.. 1938
Gold 4s
1951
Jefferson RR See Erie
T/&1AAGR See L S A M S
IVan A Mich SNTolAOO
K C Ft S A M See St L A S F
KCAMRAB See St L A S F
Kan C A Pacillo See MEAT
Kan City Sou 1st gold 3s..I960 A-0
Registered
1950 A-0
on
98
1004 Sep’06
107*4 Apr’07
100
J’ne’07
05 4 J’ly'oo
99 4 J’ne’Ob
1951
1951
1951
Meinpli Div 1st g4s...l961
St L Sou 1st gu g 4s....1931
Ferry
984
S8«s 964
894
98*4 Nov’00
99
Apr’07
Bellev A Car 1st 6s
1923
Carb A Shaw 1st g 4s... 1932
Chic St L A N O g 5s...1951
Kentucky Cent
944 117
May’07
108
100
Registered
1951
Spring Div 1st g 34s...1951
Western Lines 1st g 4s..1951
BONDS—Continued
Deo’06
116 4May’07
93 4 Mar’06
Sale
100
1951
1952
Registered..
1952
0
A
L N
Tex gold 4s ...1953
Registered
1953
Cairo Bridge gold 4s....1960
LouisvDivATerm g3 4s.l953
Registered
Gold 3 4s
934
94 3s
2-J
1214 Deo'06
J-D
M-N
A-O
J-J
Puxokaae money 0s.....„a997
Ed El 11 Bkn 1st con g4s 1030 J-J
No price Friday;
1st gold 6s.. 1923
High
1104May’07
1004 Lee’06
1034 105
100
Week’s
or
Last Sale
Range
A 8 k Low
110
Keok A Des Mo AtesCRIAP
Knoxville A Ohio See So Ry
lU18CELLAM£OlI3
tins and Electric Light
Atlanta G L Co 1st g 5s. ..1947
Bklyn U Gas 1st con g 5s. 1945
Buffalo Gas 1st g 5s
1947
Consol Gas conv deb 6s....1900
Qonsuin Gas See P G & C Co
Detroit City Gas g os
1923
Let Gas Go 00111st g 6s...1918
EdEliilUkn AVksKUoELAP
EdEill SeeNYGAELHAP
1942
J-J
F-A
F-A
M-N
M-N
A-0
J-D
J-J
Bull Co Branch 1st g 6s. 1930
L'argo A So See Ch M A St P
CliutAPereM See Pere Mar
Fla C A Pemn See Sea Air Line
Fort St U D Co 1st g 448.1941 J-J
Registered
U'astof Minn
ElginJolA East 1st
1st general gold 5s
Gold 3 4s
Registered
Oct ’06
86
111
Apr’07
112 4 Feb’06
112
1114
Mar’05
Dec'06
Jar ’05
J’ne’97
874 Feb’07
88
122 4
Aug’Ol
08
J-l)
J-D
122
100
Feb’08
Feb’06
814
J-J
A-0
121* 121^
J’ne’Oo
71
944
96
122
92 4
93
133 4 Leo 'OG
89
92 °b
J-J
10141044
117 4117 4,
1U4
1114
102
Aug’06
109
J-D
J-J
1995
Gold 4s
Detroit Southern—
Ohio Sou Div 1st g 4s.. .1941 M-S
Dul A Iron Range lst5s..1937 A-O
Registered
JuneU1
Middle Divreg6s
1921
Omaha Div 1st g 3s
1951
St Louis DivAterm g3s.l9ol
A GtWaco
So seeSee
Dak
c MM AK St
alias
A P
'i
Rio Gr Juno 1st gu g 68.1939
Rio gr So 1st gold 4s
1940
Guaranteed
1940
Rio Gr West 1st g 4s. ...1939
Friday
Illinois
Central 1st g 4s..1961
1961
Registered
91
66
J-J
M-N
984
97
994 Jan ’<>7
974 Apr’07
934 J’ne’07
104 4
pret 4s.1940 A-0
O Ind A W 1st pi 5s...<<1938 Q-J
Peo A East 1st oou 4s...1940 A-0
Income 4 s
1990 Apr
Clev A Marietta See Penn RR
Improvement gold 5s...1928
N Y Sue A W Ut ref 5s.l937
2d gold 44s
1937
General gold 6s
1940
Terminal 1st gold 5s. ..1943
Regis 65,000 each...1943
Mid RRot N J 1st g 6s. 1910
VVllk A Ea 1st gu g 5s. 1942
t£vA Ind 1st con gug6s..l926
Erie A Pitta
See Penn Co
Evans A T H 1st cons 6s. 1921
Mt Vernon
^ W
Rid
Erie—(Con)
Georgia A Ala
99
.
ltd Bl A W 1st
Clev A Pius See Penn Co
Col .Midland 1st g 4s
1947
Colorado A Soil 1st g 4s...1929
Reiund A ext 4 4s
1935
Colum A ureenv See So Ry
Col A Hock Vat See Hock Va,
Col A ToL See Hock Yal
Col Conn A Term See N A W
Conn A Pas Rive 1st g 4s. 1943
1264 131
Price
N. Y. STOCK EXCHANGE
Wuk Ending June 21
Ga Car A Nor
Registered
199u Al-N
8pr A Ool IMr 1st g 4s..1940 M-S
Registered
High
BONDS
Range
1264
Consol 60-year 4s
1962 J. J
Ohio4b WMich sssPereMaro
OhooOAGuLf
3-6
So
J -I.'
J-l)
M-N
J-J
A-0
J-J
Coupon off
Ohio A West Ind gong
1473
New York Bond Becord—Continued—Page 2
June 22 1007.J
101
101*4 1014
102
89
99
Sale
80
Sale
100 4 Sale
102
1004
1004
91 4 Jan ’07
99
80
1004
100
80
101
113 4 J’ne’06
96*4
100
95
Apr’07
103
Nov’06
1044 Nov’06
i 1*6*4 *118 ” 116 4 J’nc’07
1004 May’07
994
102
J’ne’07
10 L *4
99
102 4 101 4 May’07
100
100
101
10 10141054
1 10041024
914 yi4
1*6
10,
4
9841034
80
847®
99
101
95** **99**
11641194
1004 1034
105 4
100
IOC4108
100
100
1044
110
May*05
1014 Feb’07
£014 109
h Due ~J 'ly k i>se Aug o Due Oot g Due Dee sOvtften
New Tork Bond Record-Continued—Page s
1 174
[VOL.
LXXXIV.
.
it it \ i i ***
-4
hriaati
June '61
5-20-yr col tr deed
N’ O «fc M
N Fla & S 1st
iro k
5s... l**3'
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72
116
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108
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98
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112
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....
121
12.j7t
117
....
120
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108
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95
....
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113*2 MaiJw7.
.
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.
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......
92
80
113 *2 1L4V
.
L N A & Ch
See
199t
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Mctroptrt ha 1st »G«...-190{
McK’ptA B V bee N’ Y Cent
Metropolitan El See Mam Rv
ex
97
98
A-0
A-O
J-J
98
1033s
Cent consol sold 4s.. 1911 J-J
81
J’ly
Jly
20
Sale
21
15
17
81
20
15
Iowa Ex let gold 7s
Pacific Ex let gold Os.
105
and refund gold
1909
..1921
4«..1949
J-D
J-D
A-0
J. D
M-N
M-S
j. J
130 105
118
113*4
109*2 108
•
......
84
96
97 *2
96
103
i
95
84
J-D
F-A
1944 M-N
M-S
J-J
2001 A-O
M-N
no
Sale
81*2
*
ll)3
......
96
105
.M-S
m
21
130
105
L18
Apr’07
....
May’07
93 *4
84
84 *v
....
2)*
92
94
96
99
943e
19
I
101*2
Mar’07
81
86 *«
8634
May’oV
84
UH
118*2
Niov’ul
J’ue’07
9834
88
101*2 105
81
86
83
88 **
82
87
104*2 104*2
80
....
21
....
Apr’O /
May’o?
104*4 May’07
101
130
105
iy**-, 110 >2
Apr’07
10/
102*.; 102
87*2 89*c Apr’07
95*2 97*2 97 *2 May’07
90*2 92
May’i/7
•
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......
92
110
.
101*2
......
no
in
82
88
.
Sale
Apr’07
Mar*05
101^4 J’ne’07
116 *t Mar’07
110
110*4
109*2 J'ue’07
82
84
90
5*5*2
....
96*2
106 *2 112
104 *4 107*4
....
1
102
106*2
i04
104
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85
120
98
Dec’06
123 *4 May’07
122
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l05
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108*2 May’07
92 *2 Aug’06
95
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m
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Guaranteed g 4s
1931
M <fe O coll 4 s
See Southern
Mohawk & Mai AeeNYC&H
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N H A Derby con cy 5b. 1918 M-N
N Y A North See N Y C A H
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N Y A R B See Long Island
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N Y Tex A M
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1941 M-N
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1931 M-N
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1997
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a 2047
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1996
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1934 J-J
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77
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....
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i04
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1114 May’07
1114 Jan ’07
93
J’ne'07
liec’06
116
109 4 Feb’06
lOi.'-V
934 99
82 4 86
90*4 08 4
93
2l
0
i
90 4
88
1(674
l-Oli 4
101
105
ill
109 4
4.
Ill
112
914
94 v
units' W ImtiiKiriml
Beth Steel 1st ext gf
J
Cent ..ejitiier20-year g os 19261 ACuii.'o. i ouacco Oo yr c 4s. 1901! F
iJisr.i bee Cor conv 1st g 6s.’2<!alilt Panel Co 1st dors c Us. 191 “(| Fi OD8UI eouv s 1 g os
1980j 31 nr >t i 11199 lu-yr conv. Os ’id j-
6s..19-6}
81
99
os.’2>,{a
RepublA S 1st A isiltrOs. 1934
U a heath Uo-s 1 deb g Us.. 1913
l' S l.eaity A 1 conv«1vb g5s ’24
V •> s«tee. Corp—( coup .d 19U3
( reg ..«19ti‘'
ir 6s P..1912 AWestlnghouse i: A M g-t Os ’31
81s,
105
1U5
.
LaCKkiw bleel ist g 5s
1928|A
Nat bt.txcli M t.gCo 1st g Os l92u Wl
N'al >tarch i'usi dyh os..192
73
Ht Sale
bs
loO
94
98
bale
^
-
Ny price bnday; latest bid and asked this week.
714
79
97 4
H
2
84
b4
70
Apr’(;7
96 F 96 4 J'iie’0.7
J ne’o7
104
lo4
12
79 4
79 S,
338
90
4
90^8 -sale
95 A,
3
90
96
Sale
97
97
May’07
.^...
5'
93
92
93 Y* 93
84
9;»
87-4
4
J’ne’07
97 «a UcL ’05
99
91
80
90
103 4 108 4
109
98
j
-
bee
937p 93
111
1084
109
......
yj
80
86 4
92
84
8/
ri 5
88 4
1943
<<1943
South icy
0*
’.
..
2 104
107
Uu
tip
90
.
.
73 4
1
54
106
14*4
89*4
90*4
-
.
....
To
74
744
....
....
89
87 4
74 4
»2
1014
96
99^
*4 1126
111
114
88
94*4
lo
a7\
o7*4
103
103 4
/
...
....
....
...
106
1114
107 4114
99
105 4
20
2»
....
Apr’07
l>ec VO
80 4
99
994
100*4 J’nc'02
“j
8.0 4
80
....
1114 Aug’Oo
85
107
...
Feb 07
MayVT
67
109
04
3c
....
....
.
.
6
11
23
83
57
764
57 4 75
102
101
3
14^ J'ne •-<
89-4
34
11*0
9“
11
loo
10.2
6.14 80
20
32 4
82 4
71
04
C
...
Ui
....
....
1
89*4
110
107
80
85
99=8 102 4
94
May’07
69 4
23
1104 108
100
111
110
....
54
May’Oi
106 4 A ug’U
i
118'.
....
Hid
Nov 06
93
100
74 4
.
....
lo8
80
sale
94
1004 102 4
90*4 97
-
May’07
Nov 04
teti’Ox
I.eC’Ott
23
96 4
109 4
ill
6.' 4 May’ll,
62
'2
102
Mai*«7
9.1
OirttOo
1
110
93 4
18 112
’*>7
01 \
Apr’oi
100 *a
69 4 Sale
1
Sep’06
97
97*4
10u4
108
1084
3 1114 117
....
Mar’07
61
lO.i 4 l oy
-----
103
Dec ’Oo
......
109
944
108 4
....
Alay'Oi
< 4 “
107*4
102
......
10H4111
....
May*o7
Apr’oi
110
......
103
.
Muy’04
May’O?
87 *4 M ill
lO.s
9.1“, luO
'ns*;
1114 113
....
i03“j Feb’Oi
J’ue’oO
110
110
69 4
.....
.
.
.
H)27h Fob’uU
US
Sep’06
6J
1104114
no
1004
1014
iOI 4 J’ue’07
J’no’ui
96
119
119
111 4 J’ne 088
Ml
97
J
J-J
A-O
Nov
1
1
Dec'06
Nov’04
Apr’Ol
J-J
-
4
106 4
111
111
102
91 4
86
86 4
74 4
90
110
93
......
A-O
A-O
111
Ill
112 4 113 4
113
Il73i
...
117 4 l 1-94
Jan*07
1114
Jan Mi
Mar’OU
.
A-O
M-S
J
....
Ala)'07
l i o
J
'J-D
J D
..
112 4. 112 4
112 4
90
92
Nov’OO
....
J-J
.
J’ly’Oo
111-4
llu4
4
04
89
4
...
.
....
.
1 L> 4
89'i
7t£4
<f±
34
....
.
11 i 4
108
1O8
.
....
*:•
—
S3
8 l
10
84
89
75
9834 103
....
4
......
85
Salt
99
Sale
Itli.N Iks-toiiiaHic.t.
ktlinceliaaeouM
39
l
7 J’ne ('7
SH
1939
Wheei’gcfe L E 1st g Os...1926 A-O
Wheel Div lsl gold Os..1928 J-J
Fxten Si Imp gold Os... 1930 F-A
ICR lstCtiysol 4s
1949 M-S
20-year equip s 1 as ...1922 J.J
W'ilkes at Fast Se$ Erie
Wil «fe Sioux F bee St P M at M
Wis Cent 00-yr/lst gen 4s.lu4 J-J
1
1
92^
7134 J’ne’OT
«:3 ^ )sale
1939
Dec’05
4 May’07
May'07
4 Juii ’ol
94
1-8
113 4116
....
Keb’OO
104
Oct’06
4 Dec ’Oo
117
108
...
......
J -J
M-N
F-A
J-J
...
May'07
4
95
100 4 1134
li*
....
96
*73
income 5s
West No Car
100
......
StChaa Bridge lstg 6s. 1908 A-O
gold 3-4s
88
lc8 4
j
1930
1939
Wab Pitts Term 1st g 4s. 1954
2U gold 4»
v1954
Warren
bee Del laic dfc West
Wash Cent bee Sor Pac
Wash O at W bee Southern
West Maryland 1st g 4s...1952
Gen <fe conv g 4s
1952
\V Va CeuE <fe P 1 st g 6s 1911
West N Y at Pa 1st g 5s.. 1931
Geu
107
......
Ext 1st g Os..1941
Des .Moiu Dtv 1st g4e..1939
Ooj Div 1st g 3
1941
Tel tfc Ch Div 1st g As... 1941
;
2o
•
let lion equip s tu g Os.,1921 M-S
1st lieu 50 yr g term 4s. 1964 J J
1st ref anil ext g 4s
19.>* J-J
.
104
......
......
Delta Oil
109 4 Mar’ti*
106
Mai’o7
110
Jan’05
Mar’o7
106
103
98
104
112
108
113
107
107
96
108
.....
J-D
A-O
lul
Sale
J-J
100 4
J-J
97 4
J-D
F-A •118*4
1 l )
9 • J
S8
8ale
J-D
J D
t V3 >•
J-J
It 6*4
J-J
Certilicates of deposit....
|
Aug’oO
Hlami tael
V abash 1st gold 5s
VV
2d gold 5s
\
81
87
106 4108*4
16
14
102
...
87*4
52'
7 oCd ’05
11284 J’ne’07
il24
A-O
J -D(
10,4 107 4
Feb ol
Sep’06
4
91
96
95
1908
Gold Os
1920
Upi N J ICR d* C Co See Pa 14li
Utah Central bee Rio Gr Wes
Utah & Nor Hi See Uu Paoihc
U Lea <fe iilacK. Li-See N V Cent
V ’ ainlaiia consol g 4s
1905 FA
»
era Cruz dcPlstgu 4 *<ittl93‘4 J-J
Ver ^ai lnd at W
bee Mo P
V.irguna Mnl bee South Kv
....
kHlMiEUA A rails
*
1929
1929
Registered
Utah «fc Nor 1st 7s
1044 1074
6
97*8 1004
.
»6 4 Mar'06
J
J
-
964
88
J-j
J
71
71
Sale
96 4 9/4
-
bl 10-Uoyr os.
Ya-Car Uln^ni coi
1947
'Registered
Ry <fc Nav cou g 4s. 1946
Ore Short Line lst g Us.. 1922
1st consol g-Os..
1946
Ore
Series K
Bo Car A Ua bee Southern
Bouttunn Pacilio Co—
Gold 4-s iCom Pac coll).kl949 J -I)
Registered
vl94b J 1)
Cent Pac IsPrel uu g 4s 1949 F-A
Registered
1.949 F-A
Mort guar gold 3 4.S../.T929 J -1)
Tmtnish St L 1st gu 4s ’04 A-O
Gai liar A S A 1st e Os.. 191b F \
Mex A Pac 1st g 5s. ...198.1 iVl-N
Gila V G A N 1st ieu g os.1924 M.N
lions E A \V T 1st g Os. 1938 M1-N
1st uuar os run..
1933 M-N
1: A T C 1st g 6s im gu..l907 J -J
Consoi v Us mt guar...1912 AO
Gen gold 4^s int guai..l92i A-O
Waco A N vV uiv 1st g iis ’.io V.-N
A A N W 1 st tri* v Os
19 i 1 J J
g
coil 5s 1928
105 °e
131
16*4
dar
f. j
1900
50-year gold 4s
Tor Haul «fc Butt 1st g 4s.hl94U
i
] IsteTde Del 1st
g
U
1st refund g 4s
1902
UnPAoKR* l gr g 4s... 1947
103=8 iD4
..
Jan’oT
117 4 Apr ’<>7
117*4 May’07
116*4 Apr’(a*
117 4
103
W Min Wife N W ist gu 5s ’30 F-A
Toi & O C 1st g ob
1935 J-J
Western Luv 1st g Os... 1935 A-O
J-D
Kan <fe M 1st gu g 4s....199u A-O
Toi Pdfc W 1st gold 4s....1917 J-J
Toi St Life W pr lieu g 3 4«-1925 J-J
Guar reiund 4s
..
l'ne’07
84
85
lOo 4 10U 4 Feb’07
i 10
uct ’U5
j
1
J-D
2000
116
68
......
Co
02000
107
116
....
Ot
M-N
M-N
MxS
-
.
111
Feb’wT \
112 4 May’07
115
1151
4
115 4
110 4
ill
ll‘>4
107
......
A-O
See So Pac
Tex A N O
Tex & Pac 1st gold 5a
2d gold inc oa.
...
92
4
9 l
11J ^
f’er A of bt L 1st g 4 4s..l939 A-O
1 1st con gold.5s..7.1894-1944 F-A
Gen refund s t g «s
1953 J-J
L i5 4 Dec ’06
108 4
90
1: u
*
M-S
M-S
General 5s
1936 M-N
M-N
WOiW l8t cy gu 4s.. 1924 F-A
West N C 1st con g 6s..1914 J-J
<fc N* Ala bee L db N
1 ()7*o 1 OK W
97
116
x27
\a
304
794
8
73
Apr’07
;
97
IOTA
104
82
1174119
....
Muy’07
894
hi)**
89
90
110 4
93
Nov’06
98
J-l>
A-O
A- U
j - j
.j j
j - j
j - j
j -I*
j
i'o7
91
....
i
J-J
19tU19<g
Sln-t, Shr A So .See M K A 'l'
Bn op uca A U bee Ati Coast L
lce(Cluc) ist
5s....1919
107
...
*•,
106 4
106“
114
Nov’oO
8o
>tay’m
113 4 May'. 7
89
89
Jhi» ’OU
113
J’ue’On
96
92
J’uc’Oo
107
86
J
J
J
-
<
60
90 4 sal..
106
Ohio
Jly’97
123 4 Apr’07
109
J’ne’07
Feb’u7
91
102 4 Aug’(.>5
1U9
j
-
10
J-J
J
J
J
...
Afar’Oi
10 i
1916 J-J
Cel & Greenv 1st 6a
F T Va ife Ga Dir g 5s.. 1930 J-J
Cou 1st gold os...
1956 M-N
1-. Ten reor lien g os
193* MS
Ga Midland 1st 3s
1946 A O
J -J
Knox &
1st g Us... 1925 J-J
J-J
1945 J-J
.Mortgage gold 4s
Rich & Dan oon g 6s
1915 J-J
Deb 6s stamped
1927 A-O
Mar’06
90
1938
Ateiiv Div 1st
4 4-5s... 1996
M i.outs itiv 1 st. g 4s.... 190 l
Ala Cen K 1st g Us
191«!
1948
All «fc Dauv 1st g 4s
2d 4s
1948
112
101
l(i-i4 104
1014 104*8
......
M-S
J-J
J-J
J J
J-J
.M-S
g
112
98
...
....
Apr *07
104
ltigb
....
114 4 Dec’04
Mhv*07
11 UC 116
-j
Lon
....
Feb’th
Mar’o?
Apr ’07
Keb’07
107
M-N
1* 2
A’ci
Sep’06
Nov’06
.
.
January 1
Hia/i
Low
....
A-O *101^
A-O
J-J
J-J
Last’ SaL’
127
1 16
112
102 A lul
104
104 4
101
J-J
J-J
J-J
OillCr
Range or
A
A-O
1994
Registered..-
....
96*4
9?
954 May’07
944 J’ne’97
Salt
1204
J
Consol gold OS
.....1948
Ga A Ala tty 1st eou 0so]945
Ga Car A No 1st eu g os 1929
•seub A Koa 1st 5s
1926
Knic.ee!
No ol Cal g'uar gas
1938
Ore & Cal 1st guar g 5s. 1927
Se Pof Argu lstg 6s...cl909
1st mar g 6s
cl91l)
8o Pacilic of Cal—
1st s Os series E & F...1912
1st gold 6s
1912
1st coil guar g Os
1937
8 Pac of N M ex 1st g us.. 1911
So Pac s. oast 1 st c u 4 s sr. 1937
'1 ex^t X O.^uhDiv 1st a Us. 1912
Cot: gold fls
.‘...1943
o Pac K It 1 st.Ter 4s
1 955
Southern—1 st coil g Os
1994
J
U
Passlat^ug4s... 1948
el’ieHA i'h ist g Os... (5*'42'
b
S b A N P 1st sink I g Os. 1919
bav l-' A Vv est
bee Ati Coast l,
Bciolo Vul A N' L iSe^NorA; Y\
fceaboaru Air Line g 4s...l’9&o
Coil tr refund g5s
1911
Ati-Bum 3u-yrlst p 4^^1933
Car Cent 1st con g 4'*...I949
1 la Cell dg pell 1st n ow.1918
1st land gr ext g 6s ...193t»
t
'
Dakota ext gold Os
191b
Mom ext 1st gold 4s.... 1987 J 1)
Registered
1937
1st guar gold Os^.
19J-,
Will A si F 1st gold 5s..1938
St P A Nor Pue bee Nor Pao
fcl P A s’x City .west P a! A*)
_
8
Gray’s PtTer let gug 5m 1947 .1 -D
Bt Paul A Dul
8t Paul M A Man 2d Os... 1909 A-O
1937
.
....
Mar’07
190
98
■?
-
J
•
K C A M ti A 11 let gu os. 1929
Oz’rk A ChC lstguOs a.1913 A-O
St Louis So bee Illinois Cent
St L S W 1st g 4s bd oils. 1989 M-N
2d g 4s me bond Ctfs...pl989 J - J
Consol gold 4s
1932 J *D
KMiuu lstdiv 1st g Os..1908
Nor Div let gold 4a....1948
Minn Union 1st g Os....1922
Mont C let gu £ Os
193.7
t
115 4 Mar’06
*
7
^
....
-
1933
1933
Reduced to gold 4 4a..1933
...1933
Registered
....
Apr’02
Mav’o7
LM)a4 Apr’07
106 4 Sep ’06
90
lBtgos..l947 AU
'1951 «J J
Retuuiling g 4s
5-year gold notes 4*3.. 1908 J V
StLM A So Eaatgju4 Jvgl909 1 11
K C Ft S A M eon r Us.. 1928 W!-N
K C Ft S A M Ky ref g 4s 1930 A-O
gold Os
r
rn
So Car & Ga 1st g
Southw Div
Registered.
^
....
IOJI
1 It’4
J
*
Geueralgold 6s
1931 J
General goM 5s
1931 J
St L A 6 F KH cone g 4s..’90 J
l
Fob’07
123 4 Jhti ’05
1044
»
S A A A
I’tie’oO
M
....
_
liui
Pac Oo—(Continued)
nrg*n’*i 1 Jk.
T 1 at 7s. 191 8 A.n 121 Sj
1st gold 6s
1920 J-J 111
scmtliern
....
A .O
Rensselaer A War bee D AH
Rich A Han bee South tty
Bich A Meek, bee Southern
Bio Hr West bee Den A Rio Gr
Koch A Pitts bee B K A P
Koine Wat A Og bee N Y Cent
Rutland bee N Y cent
i us A H
bee Pere Murq
Ot Jo A Gr lei 1st g 4s... 1947 J
St L A Cairo
bee Mob A Olu
St L A Ixou Mount bee M P
St L K C <fe N
bee Wabaeli
St L M Br See l’REA ol St-L
St Louie A sau Francisco—
Registered
May’05
107 4
Feu’()7
100*4 Dec’05
1943
Hipn.
9^»
a
o. p
XV Registered..
Jersey Cent codl g-4s...l951
lslconeoi
Low
92
1
>
Range
Week's
Price
{•ritiau
June 21
*-
EXCHANGE
WititK knuino June 21
Apr’04
116
*114 4
n
5s. 1939 ii.h
Sag Pus A H let gu g 4s. 1931 F-A
Phil B A W bee Penn Hit
Pluls A Keadmg cons 7s.1911 1 TY
Pitts Cm A bC Lr See Peon Co
Pivts Cle ve A Toi see PAD
Pitts Ft W A Cli See Penn Co
Puts McKees A Y See N Y Oen
Pitts Sh <fc L E let g 6s...1940 A-O
let consol gold 5s
Pitts A West bee B A O
lleadiug Co gen g 4s
J’ne’06
91
F-A
J D
a
Oct ’02
1004 Mar’O?
\J.N
;...01921
Flint A P M g 6s
let consol gold 6s
Pt Huron Div let g
Ac
^Si
N. Y. STOCK
January
9s4 Apt ’04
Sep’OH
J
-
J
llOMls
A'aui/r
-0
Since
Hujh
Lon<
At;a
—
_
Pensacola <fe Att See L «fc Nasi:
Peo A Fast See OCCAbtL
Peo sa Pelt Uu 1st g 6s....1921
2u
5 T
Jy\ce
i
*0
IBLS I/**
92
106
94.7g 102
82
84
70
7o
95
97
11)2*4-106 ^
al)ae Jau
77
93 4
90
944
97
994
93
974
UU*.
99
Am SS Co of W Va g Os.... 1920
B’kl’u FerryCo lstcous 'gOs’48
Chic Jotfc St Yard col gOe. 1910
Det M A M 1d sr incomes.. 1911
Int Mercian Marine 4 4«..i922
int Navigation istsf 5s. 1922
Man iiOli li
L gen gAs-.1940
M-S
M-N
F-A
J-J
AO
A-O
F^A
St J oseph Stk Yds 1st 4 4s. 1930 J-J
St L Ter Cupples*Stat’n A Prop
Ov lstg^4 4s 5-20 year..1917 J-D
S Yuba Wat Co cqn g 6s..1923 J-J
8p Vai Wat Works l#t 6s. 1906 M-S
b Due Keb
f g 6s. 1931
.
.
.
_
*
...
....
ti Due Apr «Due.May jbue J'ne
....
.......
68*4'
83'“<
M-N
Newp Ne Slop A D D5sflC1990 J-J
N Y Dock 50-yr 1st p 4s.. 1951 F-A
Providence Sec deb 4a—1907 M-N
Provident'Loan Soc 44s. 1921 M-S
U S lied A Rdf 1st s
......
......
......
92
88 4
......
......
......
......
......
......
......
......
93 4 Salt
41
Oct VO
1 Ol
MayO/
Sep VO
J’ne 07
70
68
85
Ou
......
90
88
99
J’ueei
Feb’0_........
J’ne’07
hlayV7
lo*
101
....
....
tv7
....
8j
-i
70*4
....
....
....
5K)
3734
9-j'
88H
May’06
100 4 Sep
112
....
VO
j’iy’*04
1134 J’ly’00
93 4
93,4
....
.
.
.
....
::
90
ADuaJ'ly pDoeNov lOutum
96
8M#
••
CHICAGO STOCK EXGHAYGE-3tock
STOCKS—HIGHEST AND LOWEST SALE PRIOMB
165
155
166
4
*34
*12
14
284 24
84
84
174 174
155
*34
4
*12
23 *4
14
24
8*4
♦2’t,
62
•614—.
•83 7e 84
96
I
*694
*80
29 4
*96
•SO
42
42
26
65
83
*234
•60 4
iJ0 4
98
34
64
f>\
62*4
62 4
131
*70
*35
*88
*168
60
64
524
*1314
1264 •121
*72
14
64
*1
•6
188
1264 1264
*3K
122
•107
126
64
•50
734 734
i
10
•Si
42
25
65
83
*40
*22
*59
*82
29 4
*96
•80
43
25
65
84
294
98
84
I
294
*284 294
*96
54
64
534
52 4 53
*13 L
126
1264 *121
14
138
40
122
39
109
52
*1
*6
64
*72
....
'36
*38
*108
50
106
40
40
109
50
•1
•6
14
64
39
120
108
126
64
784 734
1114 •11041114
73 4
70
724
116
*111
115
104
•23
104
24
104
*28
1264 1264
•52
64
34
166
4
14
224
34
174
14
21 h
20 4
34
•40
46
42
42
Last Sale 94
J’ne’07
Last Sale 60
J’ne’07
•81
83
82
83 4
29 4
*284 294
294
•94
96
97
97
Last Bale \84
J»ne’07
54
634
Last
Last
*33
Last
*50
Last
Last
Last
Last
138
120
105
126
Last
Last
Last
Last
Last
Last
64
584
•40
90
904
104*4 106
*14
894
106
*14
2
104 10*4
8
*23
24.
42
Sears Roebuck oom.100
894
Do
pref
Swift* Co..
100
178
104 114
24
Wkbk Kndlkg June 21
June 21
Bid
People's Gas L& C 1st 6s.1943
Refunding g 6s
1947
Chio Gas Lt& C 1st 6s..1937
Consumers’ Gas 1st 6s.. 1936
Mutual Fuel Gas 1st 5s. 1947
South Side Elev 4 4 s
1924
Swift <6 Co 1st g 6s
1914
Union El (Loop) 6s
1045
Union Pacific sonv 4s ....1911
U nited Box Board 6s
1928
West Ohio St 1st 5s
Tnnnel 1st 6s
1909
Debent 6s
1914
Consol g 6s
1936
West Div City Ry 4 4s.. 1932
West’rn Stone Co 5s
1909
Week’s
or
Last Sale
11
24
25
15
*1*70
1)0
61
226
j.j
J-J
J-D
J-J
J-D
101
106
J-J
A-0
F-A
A-0
A-0
J-J
101
101
08
80 4
80*b
M-N
M-S
%
Mange
Low
High
102
M-S
J-D
M-N
A-0
*96*
90
J-J
Feb
1004 May’07
1014 102
1004 Not’06
J’ne’07
36*4 Jan’00
100
884
84
100
100
55
61
100
101
*87** Fe$*’*06
77
804
80
Apr *04
814
101
90
96
May’07
100
102*4
Deo’00
96
96
984
96
J’ne’07
06
96
80
16
F A
J-J
J-J
J-J
A-0
M-N
May’07
Apr’04
May’07
Noy’04
J’ne’07
May’06
89
984
Sale
04
704
100
101
100
73
75
164 Apr 15
Ouistand-
ing
Stoekt
Bankers National
Calumet National
Chicago City
Commercial National..
Continental N ational..
Cook Co State Sayings
Corn Exohange Nat..
Drexel State
Drovers Den National
Englewood State
Federal National
First National
First Nat Englewood..
Foreman Bros B’k’g Co
Fort Dearborn Nat...
Hamilton National...
80
48
Feb
2
4 Feo
Sep
J’ne
884 J’ly
03 4
28
42
Deo
May
Mar
29*4 J’ne 44*4 Feb
7*4 J’ly 144 Mar
144 Mar 204 Not
3 4 J’ly
440ot
Hibernian B’k’g Ass’n
K as par state Bank
Alonroe National.
Mutual Bank
Nat Bank of Republic.
National City
National Live Stock...
North Ave State
North Side State Sav..
Oakland National
Prairie National
Prairie State
004
85
91
76
894 904
92
95
97
98
97
98
11641154
100
1024
100
Apr’07
101
J’ne’07
101
Apr'07
103 4 Feb’00
101
1044
101
102
08
100
993,
100
May’07
1004
1024
984100
M etropolitan Tr A Sav
Northern Trust Oo....
86
75
90
Northwest Tr A Sav...
Peoples Trust A Sav..
Pullman Trust A Sav.
78
70
78
78
Nov’04
10
May’07
73
73
87
73
73
Deo’06
964 Jan’06
...
65
prices.
Royal Trust Co
Stockmen’s Tr A Sav..
Union Trust Co....
Western Trust A Sav.
W Side Tr A Sav Bk..
Waodiawn ®rAJBav Bk
Prodtsf
_
_
0500,000
55,938
250,000
27,671
64,724
86,278
1,068,513
155,373
35,917
51,530
2,516,839
990,474
n88,26o
$7,893
636,701
75.206
939.658
253,267
7,922,942
200.000
300,000
6
12
6
8
9
bus in
12
10+10
ate Ba
6
io
3,000,000
2,000^000
600,000
60,000
•00.000
200,000
3,000,000
1,260,000
4,500 000
200,000
200,000
3,000,000
750,000
1,600,000
200,000
200.000
WOO ,006
600,000
200,000
1,000,000
1,000,000
200 MOO
200,000
37*405
27,741
4,278,862
336,410
increased
Q-J
&
24
Q-J Apr ’07, 2
...... ......
**5*
Q-F
....
Feb
Jan
’07. 1
’07, 44
6
Q-J J*ly *07, 2
basin ess Feb 5,1007
12+3
basin
6
6
Q-J Apr ’07, S
Dec 8,1906
Q-J Apr ’07, 14
Q-J Apr ’07, 14
ess
....
....
bus in
5
nized
8
8
ess
Q-J J’ly ’07, 2
Began
Orga
Q-J
Q-J
Q-J
Q- J
Q-J
Q-J
Q-J
*06. 6
’07, 5
Apr ’07, $
Apr '07, 8
Apr ’07, IQ
Apr ’07, 8
Apr ’07, ll*
Apr ’07, 2
Apr ’07, 14
Ost 16,1905
Apr ’07. {
Apr ’07, I*b
F-A Feb ’07.
1138
4
%
Q-J Apr ’07. 2
8
■
Last Paid
J-J Dec
J-J Jan
6
10
12
8
^
Record
Per¬
iod
8
*»»*♦■*
Railway Exohange....
Citizens Trust & Sav..
Colonial Trust A Sav..
Drovers Trust A Sav..
First Trust A Savings
Harris Trust A Sav
Illinois Trust A Sav..
Kenwood Tr A Savings
Lake View Tr A Sav..
Merchants’ L’nATr Co
In
1906
In
1906
.
South Chicago Savings
Union Bank of Chicago
Union Stook Yds State
Amer Trust & Saves..
Central Trust Oo of Ill
Dividend
entrpt,us a
,.
,
Q-J Apr *07, 2c
ess July 8, 1906
Q-J Apr *07. 14
Oct 12,1906
Q-J J’ly '07, 3
None
Began May 1, 190 5.
0
None
Q-J Apr *07, 14
8
8
Q-J Apr ’07. fi
7
5ia
Q-J Apr *07, 14
5+6
6
Q-J*
10
Fly ’07, 24
Q-J Apr *07, 14
6
........
Began busin
12+4 12+4
-
....
Orga nixed
12
12
6
8
6
-
-
-
-
......
Feb 4, 1907
1) May ’07, 1
Q-J J’ly ’07, 14
Not 18,1905.
Q-J Apr *07, t
Q-J J’ly 27, 14
Q-J Apr *07, 2
J’ly 28, 1906
ess
8
1,709,930
40,008 Orga nixed
64.088
8
8
172,614
6
8
636,429
5,300 Inoor porate d M
999,948
6
302,958
e+i Q-J
23.202 Began basin
6
25,748
Q-J
| Dividends are paid Q-J, with extra payments Q-F.
Includes special dividend of 80% paid Doc. 18, 1906.
made en this day.
| No price Friday; latest yeftee this week, a Due Dee. 31. a Due June. 0 Capital increased Jan. X.
of 80 per oent being declared and to be taken as part payment for new stook.
b Due July, k Capital
from
-
-
....
.
...
Apr *07, t
May *07, 9
ll arch, 1805
....
....
Apr
*677*1?
hap 5. 1909
Apr W7, 14
1907 from $*50,000, a cash dividend
$300,000. a
and $2 ,000•00OadMd
p. c. being declared in part payment therefor.
n Capital and surplus to be Increased.
0 Capital increased from e2.00Q.G0Q.
surplus,
t May 20, for Hantraal Bonks, and May - L. ’07 for State institutions, except those designated (3), whioh arc of date Maroh
7978 Feb
May
1*4 May
21
Jan 22
Be^an
Chicago Sav Bk & Tr..
76
Nate,—Accrued interest mas t he added to all Chicago band
respectively.
714 Jan
46
Feb 14
8
$2,000,000 $1,249,848
5
$84,032
100,000
10
600,000
155,406
12
03,000,000 4,104,047
8
4,000,000 2,884,126
6
7,474
60,000
ie
3,000,000 4,565,691
6
38,783
800,000
8
344,077
600,000
33,539
200,000
77,935
600,000
8,000.000 7,056,676
150,090 10
100,000
636,078 Priv
600,000
6
891,581
1,000,000
187,400
500,000
1,600,000 1,111,362 **&*
100,297
200,000
62,000
300,000
69,138
250,000
0
2,000,000 1,178,604
361,939 Began
1,500.000
1,000,000 1,327,039 12+3
$51,581 Began
200,000
6
5,215
60,000
6
34,325
100,000
67,836
250,000
n
88
80
Feb’07
72
2
20
1,000,000
260,000
200,000
200,000
72
90
2
Jan
324 Jan 24
State Bank of Chicago.
8 took Yards Savings..
08
Jan
6
32 4 Jan 24
Security
100
90
114
1
30
Aug’00
904
414 Sep
50
57
Jan 10
Aug 63 4 Deo
95
Jan 25
924 Nov 00 Sep
1134 Jan 16 1014 Jan 1104Sep
173 4 May 3 115
May 1524 Jan
1024 Jan 16 09 4 Deo 1064 Feb
2 4 Apr 8
*4 Dec
2*4 Jan
124 Apr 8
54 Deo 174 Jan
224J’nel2
70
75
884
68 4 Sep ?06
75
10
,
Dec ’06
1154 J’ne’07
97
1,885
Apr 0
984 Marl4
May’07
97
Mar’07
98 May*07?
994 Sep ’06
102
101
Apr 17
88*4 Apr 17
133
May 2
28
Mar
62
May 79 4 Deo
J’nelO 1174 Jan 7 1134 Jan 119 Oct
05
78
Jan
Mar
Apr 18 844 Jan ll
Apr 9 120 Jan 17 112 Deo 1224 Mar
40
90
1004 Mar *06
97
98
00
40
Jan 11
2 4 Jan 23
27
Mar 4
86
Jan 14
88
84
90
91
03
45
May 15
2 4 Jan 23
25
Feb 5
73 4May3l
674 1014Marl5
20
NAME
lor year
1907
High No
79
100
iVIinum
Jan’07 Bingham Con Mining 50
Not’06 Black Mountain....
io6~ ioo*
804
14
34
378
ioo” Mar’07
100
103
6i
57
107
300
Nov’06 Hubbaru-EUiott
444 Feb
650
96 II04
70
100
May’07 Daly-West
6
J’ne
114 Jan
51
J’ly 72 Jan
129
Jan
Feb21 115
Nov
Feb 180
1224 Mar28 130 Apr 24 128 4 Dec 136 Jan
54
Jan
81
Not
63
Mar 20 80 4 Jan 14
Not
Jan 112
1014 Apr 10 109 Jan 7 101
Mar28
17
30
Jan 2 40
Feb
814 Deo
J’ne 8
36
40
Feb
34
Jan
Apt 20 40
Feb 8 106
Dot 113 4 J’ne
106
Apr 20 111
Marl 3 54
Jan 8
55
Feb
•60
May 64
165
Feb27 165
Feb27 168*4 May 175
May
16
16
Feb
4 Feb
1
1
l
Mar
Jan 9
1
Jan
Mar
6 4 J’ne
6
Not
7
Jan
6
Jau 9
129
Mar21 149
136
Apr
J’ly 165 Feb
63
5i
Feb
48 4 Dec
Feb
^8
6 ne 3
lol
1154Jan 2 1344 Apr
Apr 130 Jan
102 4 Marl(5 112 4 May] 3 103
May 118 Jan
119 4 Jan 24 129 4 May 15 118
J’ne 147
Feb
74 Apr 1 i
Apr 10
60
7 133
***4*U
Unit’d Box Bddfa P ColOO
Do pref
114
100
24
10U
Western Stone
pref
Highest
Chicago Banks and Trust Companies
Range
Ash Low
Do
Lowest
Highest
44 Jan 25
484 Marl5
765
2
F-A
M-N
F-A
J-D *
M-N t
J.J
A-0
1,100
105
100
J’ne’07 The Quaker Oats Co. 100
Last Sals 164
100
100
101
159
Prise
1916
Do
pref
100
South Side Kiev
100
StreetsW Stable C L100
Do
pref
100
West Chic Street
100
634
•40
42
*894
1044 105
*150
*100
Friday
1945
North Chic Street.... 100
North wee tern Kiev..100
Do pref.......... 100
Sale 133
J’ne’07 Arner Radiator
100
123
•1264
Do pref
100
72 4
72 4 Amor Shipoldg
73
100
& a L e 107
J’ne’07
Do pref
100
Sale 38
Amer
Straw
Apr’07
Board
38
39
40
Booth (A) & Co
100
Sale 110
J’ne*07
Do pref
100
51
52
51
Cal & Cine Canal & DlOl)
166
Sale
Mar’07 Central Trust Bank.. 100
Sale 16
Mar’06 Chicago Auditorium..
Sale 1
May'07 Ohio Brew’g<fc Malt’g
J’ne'O/
Sals 6 4
Do pref
140
*138
140
Chic Edison
100
Sale 38
J’ne’07 Chio Pneomatio Tool. 100
121
122
1224 Cine Telephone
100
105
106
1.06 4 CWo Title & Trust... 100
125
1264 *12 b
Diamond Match
100
Sals 53*4
May’07 Illinois Brick....
100
Sale 314
Noy’06 Knickerbocker Ice... 100
8u
Sale
Web’06
Do pref
100
Sale 45
J’ne’04 Masonic Temple
Sale 2 4
Jan’07 Mil & Chic Brew’g
Sale 25
Do pref
May’07
*40
42
90
CHICAGO STOCK EXCH’GK
Pearsons-Taft 5s
4*408
4*60s Series E
4-80s Series F
100
100
MbaShnig—
64 American Can........100
5
584
Chicago Bond Record
Ogden Gas 6s
100
784 74
734
73*4 78*4
734 National Biscuit
100
1114 •1104H14 1114
Do pref
lilt,
100
J’ne’07 National Carbon..... 100
734 Last Sale 72 4
116
Last Sale 110
J’ne’07
Do pref
100
Last Sals 5\
May’05 Page Wo Wire Fenoe..
Last Bale 90 4
J’ly’06 People's Gas L«fc C’kelOO
BONDS
M-8
M-N
J-D
M-S
M-N
M-N
A-0
M-S
J-J
J-D
M-N
J-J
J-J
A-O
M-N
pref
Lowest
ous
<
Year (1900)
5.r 150
Marl9 205 Apr « 140 Sep 200 .1 in
55
Jan 2 4
3 4 May 14
5
Dec
5
1\ Jan
140 13
b’e b 15
16
Apt 6 15 Dec 284 an
1,401 15 Marl4 46 4 Jan 2 39*4 J’ly 6 * May
300
6 4 Apr 3
4
27e M ay 15
J’ly 134 bi-b
150 14
12 4 May 464 Mar
Apr 23 194 Jan •’
100 49
Mar25 65
Jan 16
544 Jan 684 Feb
10 83
Mai 2 5 87 Janl7
85
Oct
984 Feb
30
J’ne
24
Mar 1
28
Jan 24
25
Oct
”206 624 J’neSl 72 Jan 15 65 4 Oct 72 4 Nov
155 344 Apr 10 46
25
Mar 85
-Mar
Apr 4
22
Apr26 25 4 Jan 25 23 4J’ly 28 4 Feb
68
58
60
4 Mar
May
Apr 24 644 Jan 15
53
Jan 4
J’ne
76
Marl4 90
89 4 Apr 99
300 28
Jan 15
27
Mai 25 34
May 354 Xov
60 95
Apr 3 00 May 18 97 Dec 102 J’ne
20 Marld 85 Apr 3
23
Apr 60 Feb
100
111
*70
111
*23
J-J
Do
Chicago Subway
1907
or
34 Ohio Union Tract.... 100
*16
17 4
Do pref
100
•63
64
*61
Kaiw City ky & Lt ..100
*84
86
*834
84
Do pref
100
Last Sale 24 4
May’07 Metropoi W S Kiev.. 100
•60
64
624
Do pref
<*621*
100
Last Sale 32 4
Last Sale 10
Last Sale 164
Last Sals
Amer Biscuit 0s
1910
Amer Strawboard Ist6s..l011
Cass Aye AFd (St lo¬
gs
1912
duo Board of Trade 4a ...1927
Ohio Consol Br <fc Mlt 6s
Ohio Consol Trac 44s
1039
Ohio Edison—
Debent 6s
1913
1st gold 5b
41026
Ohio Auditorium 1st 6s. ..1029
Ohio Dook Co 1st 4s
1920
Ohio No Shore Elec 6s....1012
OhioMU Elec Ry 5s ....1010
Ohio Pneum Tool—
1st 6s
al921
Ohio Rook I & Pac RR 4s.2002
Coilat Trust g 6s
1013
Commonwealth Elect—
6s
61943
Illinois Tonnel 5s
1928
Kans City By & JLt Co 5s. 1013
Ioe
Kmokerb’oker
1st 5s. 1028
Lake street El—
1st 5s
192S
Income 6s
1925
Metr W Side El—
1st 4s
19S8
Extension g 4s
1938
North Chio st 1st 5s
1909
1st 6s
1916
1981
Refunding g 44a
No Ohio City Ry 44s ...1927
North West’n El—
1st 4s
1911
ltu.il roads
OWc City Hy
CWc & Oak Park
Range tor Pre
Range tor Year
Sales
the
Week
Shires
STOCKS
CHICAGO STOCK
EXCHANGE
•34
•13
14
224
34
174
Last
....
155
360
3*4
40
1064108
104
24
14
*38
‘120
160
*704
64
1384140
*1384140
•38
120
•107
1074
1264 126
*62
62
June 21
Last
123
126
*
105
40
*36
*88
*108
*50
Friday
June 20
54
584
•131
*123
•704 77
*
98
32
33
64
54
62*4
25
62
83
♦224
*59
98
42
90
24
244
63 4
40
•28
•60
40
734 784
1114 111
724 •71
116
•111
104
62
84
25
42
42
*40
42
90
90
904 *89
105
105
1044105 4 105 105
•160
159
169
•160
•166 169
100
•160
1004 100 100
2
2
2
*14
2
•14
42
90
*60
84
634
110
•514 62
62
84
•*e’6*
....
110
62
*884
m
105
40
38
•36
88
•108
*51
Thursday
June 19
634
26
....
140
•884 40
•122
124
108
108
•111
*71
•111
52
106
40
40
*1
*6
*138
•62
83
*28 4
*95
Wednesday
160
1674 1574 *150
4
4
*84
•34
*13
14
134 134
22 4 22 4
23
23 4
*3
♦3
84
34
•164 17 4 •16
174
*884 84
•Vo**
64
♦38
•234
Tuesday
June 18
Honda u
June 17
Saturday
June 15
Record-Daily, Weekly and Yearly
22 and March 23 •
TRANSACTIONS AT THE
EXCHANGE
NEW YORK STOCK
DAILY. WEEKLY
AND YEARLY
Stocks
Railroad Ac
Week ending
June 21
Par value
Shares
249,909
277,738
238,492
183,003
210,923
Thursday.......
Friday
681,000
640,000
651,500
692,000
769,000
18,013,560
100
HGoid A Stock
100
Hudson
$5,000
Total bonds....
602.000
3,670.500
$4,277,500
......
$5,000
1 to June 21
1906
$121,600
1,079,000
8,610,000
$429,800
$1,156,000
26,388,400
203,736,100
338,478,800
$9,810,500
$230,553,800
$384,737,450
AT THE
DAILY TRANSACTIONS
N Y A E R Ferry stk.100
70
1st 5s 1922
M-N
N Y A Hob oon 5s ’46. J-D §100
Hob Fy 1st 5s 1948 M-N §102
N Y A N J 2d 5s 1946.J-J §101
30
10th A 23d Sts Ferry 100
1st mort 5s 1919...J-D § 70
45,104.650
BOSTON AND PHILADHLPH1A
HUnion Ferry stock .100
Hist 6s 1920
M-N
Short Term Notes
Am Cig ser A 4s ’ll.M-S
Ser B 4s Mchl5’12.M-S
Am Tel A Tel g 5s TO J - J
Atian Coast L 5s TO.M-S
BuffBochAP g4 4s’09F-A
Philadelphia
Week ending
June 21
1*01
Listed
Unlisted
Bond
Listed
Unlisted
shares
shares
sales
shares
shares
Saturday
Monday ......
Tuesday
Wednesday..
Thursday
5.360
12,372
10,168
4.361
11,978
15,910
3,348
9,724
9,272
8,933
13,619
8,034
Friday
40,998
72,081
Total
.
Bond
sales
$27,800
20,200
38,800
45,000
9,000
20,128
12,067
10,683
3,428
2,378
5,745
4,608
7,70*
6,439
$82,500
93,006
30,300
$211,800
$16,000
1,600
28,000
11,000
17,000
9,818
17,526
22,784
41,000
39,000
Outside Securities
A Weekly
Street
Review or
Outside Market will be
Hallways
Bid
NBW YORK CITY
]
HlsLinort4s ll>50 ...
HB’y A 7th Ave stk ..]
1J2d mort 5s 1914 ....
Bleeck St A Ful F stk
Con 5s
1943
/See Stt
■
25
28
SO
86
220
104
List
200
lol
t Kxch
l
102
)
250
108
J
150
)
140
l
Exch
j
'
Dry D E B A B—
gold 5s 1932.
HScrip 5s 1914 ..
lilst
Inter-Met—See Stock E
Lex AT A Pav F 5s see;
list
96
350
100
i
390
)
73
)
103
? § 102
73
68
clia’ge Hat
95
300
98
340
68
l
J
i k Exc
80
140
150
J
J
§100
L
J
1
)
Third Avenue
106
300
116
165
100
97*5 102
)
J
Consol 5s 1948....
Ask
§107
14 0
§100
§100
Exeb
c
list
90
160
165
102
109
160
104
103
list
100
100
touiui on a preceding page.
Street Railways
Bid
Pub Serv Corp N J (Con)
J C Hob A PatersonlOO
4s g
M-N
1949
So J Gas El A Trac
100
35'
67
}
113
97
§106
§102
§100
§115
§100
hicago
Syracuse Bap Tr 5s 1940 §101
Trent P A H 5s 1943J-D §100
United Bys of StL—
§
No Hud Co By 6s’UJ-J
J-J
5s 1928
Ext 5s 1924
M-N
Pat City oon 6s ’31.J-D
2d Os.. ..1914 opt A-0
So Side El (Chic)
See C
Com vot tr
ctls
29
100
Gen 4s 1934
69
116
98
100
J-D
H West Chicago St ....100
UCon g 5s 1930....M-N
Gas Securities
102
list
103
102
31
Ex oh list
36»a 38
78
77
81
81*4
30
35
75
70
NKW YORK
Cent Un Gas 5s
Con Gas (N Y)
101
Exc h list
186
170
g’27.JAJ § 07
See St
k
New Amsterdam Gas—
1st consol 5s 1948..J-J §
93
NYAEKGas 1st 5s’44J-J §100
J-J § 97
Consol 6s 1945
33
N Y A Bichmond Gas. 100
Nor Un 1st 5s 1927.M-N § 95
80
96
106
101
36
100
Empire Steel
100
9*4
100
H Federal Sugar.com.. 100
HPreferred
100
H General Chemical ..100
HPreferred
100
Gold Hill Copper
1
105
105
30
90
90Hj
89*4
96=*
97*4
97*,
074
97 4
914
Greene Gold-Silver....
37
85
S
12
12
63
65
97 4
14
154
154
20
25
10 t
GuggenheimExplo’n.100
75
§ 974
§ 037*
§ 97\
§ 06*«
§ 95
LackSteelg5a 1909 ..M-S § 96*4
5s g 1910
M-S i 944
Lake Sh A M So 5s’l0 F-A § 98*e
Lou A Nash g 5s TO.M-S § 987e
Mich Centos 1910
F-A § 93
Minn A StL g 5s’ll.. F-A § 97
Mo Pac 5s Feb 10 ’08. F-A § 994
Natof Mex 5s ’07.opt A-O § 997e
N Y Cent 5s 1910.... F-A § 98*4
Penn Cogu4 4s L907M-N § 997h
PaRR 5s Mar 16 TO.M-S § 983b
St L M So’east 4 4s’09 J -D § 96
StL A S F g4 Hi ’08... J -D § 96
South’nooUtr 6s '09. A-O § 964
South By g5s 1910.. F-A § 927e
Tidewater Con Co 6sl909 § 99
U 8 Bubberg5s’08..M-S § 99
Wabash 5s, May 10 1909 § 96
Weetingli El A M 58.1907 §100
Wheel’s A L E 5a ’OS-F-A § 96 4
...
974
944
98
964
95 4
974
95*4
984
99 4
14
14
14
220
212
luO
02
70
13
20
65
105
45
ios
8
40
135
^
90
133
list
120
87
18
63
8
70
984 International Silver. 100
98
65
100
Preferred
108
994
J-D 107
1st 6s 1948
1004 Lackawanna Steel...loo
57
62
984 Lanston
124 13
Monotype
20 t 195
100 "
198
100
984 Lawyers Mort Co
70
62
130
125
102
98
Preferred
100
135
HLonllard (P) pref ...100 125
list
Mack iy Companies See Stk E x
22 4
15
Madison So Garden..100
80
76
2d 6s 1919
M-N
3
6
HManbatt Beach Co. 100
b\
57,
Manhattan Transit....20 t
13
17
Mex Nat Construe.pflOO
3
2*4
Mitchell Mining
10 \
t
74
7
Monougahela
Wilkesb
964 HLehA
Lord A Taylor
964
97 <4
934
994
994
97 4
1004
074
Railroad
Coal.50
100
l£coal..50
4
Deposited stock
Unde posited stock
90
Prior lien g 4 4s’30M AS
60
Con mtg g 5s 1930. JAJ
6
Inoome 6s 1930
21*4
Clue Subway
100
96
Ft W A Den Cy atd„100
Great Northen Ore
See Stk E
N Y N H A Hartford—
Condeb34a 1956. JAJ § 984
North’n Securities Stubs
Pitts Bess A L E
50 t
Preferred
50 t
H Railroad Securities Co.lLLC.stk.tr. cfs.ser.A’52
76
31
70
80
Seaboard Air Line—
Coll 6s ext May 'll.M-S
964
See Balt Exch
Seaboard Co
Industrial and Miscel
80
Akmeek Mining
25
Alliance Realty
100 115
Allis Chalmers Co 1st m
s f 08 ’30 opt ’16.. J. J § 68
American Book
100 160
American Brass
loo 115
H American Can See Stoc
2
14
35
100 120
48
Ilngersoll-Rana com. 100
85
HPreferred
100 125
Iuternat’lBanklngColOO
Exch
HInt’n’l Mer Mar See Stk
Internat’l Nickel ....loo 110
83
Preferred
lOu
16
International Salt.... 100
58
1st g 5s, 1951
A-O
6
Preferred
Hudson Realty
90
94 4
Hackensack Water Co —
Ref g 4s 52 op 12...J-J § 90
65
Hall Signal Co
100
91
12
Havana Tobacco Co.. 100
96 7b
10
Preferred....
100
97 4
55
1st g 58 June 1 ’22. J-D
984 Hecker-Jones-Jew’l Mill
99 4
1st 6s 1922
M-S 102
984
40
69
CinHam AD44a’08.M-S
C C C A St L 5s, June ’ll
Erie 6s, Apr 8 1908
Interb B T g 4s 1908 M-N
M-S
5s Moh 1910
Kan 0 So g5s Apr *12 J-J
60
t
Greene Con Copper...10 t
Greene Consol Gold... 10 t
28
88
54
104
32
76
2
4
9
58
65
75
z
20 t
Greene Cananea
4
6
Preferred
75
101
Ohio Peo A St L pref. 100
68*2
See Stk Ex oh list
UmtBysSanFran Seetitk
Wash By A El Co....100
Preferred
4s 1951
Ask
68*4
100
H Preferred
§
§
§
§
§
§
§
100
100
100
100
67
126
66
125
5
Electric Boat
Preferred
Electric Vehicle
Preferred
list
"74 "84
GentOross’n gu6s’09M-N
Chic A Alt 5s 1912... J-J
Her’g-Hall-Mar,new. 100
1004 Hoboken Land A lniplOO 200
Oh B I A Pac 4 4s’07. J - J i 99
44s 1908
A-O § 98*4 994
H5s 1910
M-N §100
7
Chic A W Ind Ss’lOFAA 5 98 7e 994 Houston Oil
100
EXCHANGES
Boston
14
4
Brooklyn Ferry stocklOO
BA NY 1st 6s 1911. J-J § 98
141,950.004
113,490,600
5,452,049
1.308,699
$106,820,150 $464,542,400 $9,677,677,856 $13,5 §7,880,800
Par vame
$295,500
$177,700
$8,200
Bank shares, par..
BONDS
Douglas Copper
11
Exch
11Crucible Steel
100
HPreferred
100
HDiamond Match Co. 100
Dominion Copper (new) 10
55
115
50
113
115
80
100
Ask
Bid
8
Cramps’ Sh AEn BldglOO
96
25
Cons Storage Battery 100
Corn Prod Ref See Stock
SO
120
Ferry Companies
Btocka—No. shares
Government bonds
State bonds
BR. and mis. bonds
RiverTeleph 100
1!N Y A N J Teleph... 100
1| Northwestern Teleg. 50
Pacific A Atiantio
26
InduMtrinl ami Miscel
Ask
Bid
75
110
113
75
45
110
45
105
110
72
60
1907
1906
1907
Exchange
2,500
$601,000
January
June 21
Week ending
Sales at
Sew York Stock
$2,000
38,500
$3,070,500
L308.689 $100,820,150
Total.........
211,500
120,500
119,000
55,000
1
Franklin
H Southern A Atlantic
$53,500
$337,000
$12,524,900
21,189.900
21,889,800
17,686,700
15,615,300
148,624
Wednesday
u s
Bonds
State
Bonds
Bonds
Saturday.......
Monday
Tuesday
....
Tetegr A Telephone
H AmerTeleg A Cable 100
HCentrai A So Amer. 100
Commer Un Tel (N Y).25
Emp A Bay State Tel 100
Stock Exchanges
Volume of Business at
1*07
1477
THE CHRONICLE
June 22 1907. |
k
Ex
274
Preferred
50 t
95
90
Mortgage
Bond
Co...
100
2
08
103
Nat Bank of Cuba....100
LOO
170
National Surety
100 155
66
Nevada Cons’d Copper.6 t 124 124
10
5
t
44
Nev-Utah Min A sin.le
a 1*4
SO
40
Coal
IIN
ew
Ceil
Lral
.... 2 0
105
N J Ter Dock A Imp. 100
X list
102 4
N Y Biscuit 6s 1911.M-S
105
N Y Mtge A Security. 100 186
99 4
85
HNew York Dock ....100
100
72
68
HPreferred
100
34
4
3
N Y Transportation...2b \
74
UO
100
Niles-Bem- Pond com. 100
114
Nipissing Mines
6 t 114
90
3 *3
44
llOutario Silver
100
40
35
Otis Elevator com....100
02
87
Preferred
100
list
Phoenix Securities..
Pittsburg Brewing....50 \ 27 4 274
14
00
125
72
160
120
list
Preferred
50 * 48
Excli
Pittsburg Coal See Stock
14
Pope Manufucturing.lOO
1st
preferred
preferred
100
100
2d
Pratt A Whitn pref.. 100
Public Serv Corp of Va—
40
10
98
48*4
list
2
50
102
lstm g 5s Juiy 1936 opt
152
Realty Assoc (Bklyu)loO 140
103
106
luS
t5
Royal
Bak
Powd
prof.100
444
Am Grapliopho com..100
260
270
375
J
325
IIStandard Gas com ..100 10O
Safety Car Heat A Lt 100
80
82
Preferred
100
75
60
106
Seneca Mining
§100
II Preferred
100
25
100 117
Amer Hardware
106
1st 6s 1930
M-N §100 106
§100
Singer Mfg Co
100 450 4703
96
08
Am Malting6e 1914.J-D
14
OTHKR CITIES
Standard Cordage.... 100
BROOKLYN
100
95
Amer Press Assoc’n.lOO
103
101
35
40
) § 98
lstM.g.5s.’3i red.. A.O
l
93
Am Sotla Foun com.. 100
90
7
84
> §102
1,1931
a
Adjust.
M.5s.
Apr
■i
1st
preferred
100
00
55
99
J
Bay State Gas
50 § 04 4 90 *8
Standard CoupieroomlOO
5
2d preferred
100
126
202
)
195
Preferred
100 115
Binghamton Gas 5s 1938
93
Am St Found 6s’36 AAO § 90
8
6
i
list
Standard Milling Co.100
Brooklyn Union Gas d
195
Con 5s
50 185
115
American Surety
105
37
32
99
0s 1909 couv ’07...M-S
Preferred
100
5
\
4*4
8
Amencau Thread pref..6
64
75
78
Budalo City Gas stocklOO
)
99
M-N
1st 5s 1930
330
Exch list
AmTobao(new) eomloO 315
507
i
Kxoh list
1st 5s 1947
See Stock
Standard Oil of N J..100 506
38
41
BklnyCoA Sub
92
Am
TypefO’rs com...100
Con Gas of N J 5s ’30 J -J § 89
<
Excli nst
Swift A Co See Boston St k Exc h’ge
98
101
100
Bklyn Bap Tran
Preferred
1014
150
Consumers’ L H A Pow—
9
100
1st 5s 1910-1914...J-J §100
2
14
Amer Writing Paper. 100
§102
7U
85
92
f
5e 1938
J-D
88
‘JO 4 HTexas A Pacitio Coal 100
19 s
Preferred
100
275
[
104
A-O §104
1st 6s 1908
83
82
1st sf g58’19op’09.J-J
120
117
100
160
s
102
Title Ins Co of N Y..100
63
46
40
HBarney A Sm Car ...100
<
Exoli list
Fort Wayne 0s 1925..J-J
Tonapak Min (Nevada). 1 t 144 144
L39
56
50
HPreferred
loo
13
17
75
Gas A El Bergen Co.. 100
66
J
TrentouPotteries comlOO
12
10*4
98
*2
HBethl’m Steel Corp .100
90
96
80
J
Preferred new ....100
104
HGr Bap G 1st 5s T5 F-A § 100
60
35
5s
108
HPreferred
100
35
45
100
t k Ext h list Hudson Co Gas
Trow Directory
100
145
Bliss Company com
50 135
7i
Indiana Nat A Ill Gas—
99
s
10 t 82
X 140t Union Copper.
20
Preferred
50 130
16
85
1st 0s 1908
..M-N
110
Union
§105
Tvpewr
oom..i00
340
325
Bond A Mtg Goar.... 100
58
50
118
Indianapolis Gas......50
1st preferred
loo 115
OTURK CITIBb
168
99
Borden’s Cond Milk.. 100 103
118
llo
1st g 5s 1952
2d preferred
_A-G § 95
LLO
100
107
Buffalo Street Kv—
99
100
Preferred
60
4 §106
107*2 Jackson Gas 5s g ’37.A-0 § 97
84 United Bk Note Corp..50 f 55
t
84
British Col Copper
6
50
nO
52
J §104
Preferred
60
24
23
92
Butte Coalition Min.. 15
91
85
See J hicago List
11 Laclede Gas
100 90
2
3
HUniteduigarMfg.
,pf.
loo
Chicago City By
92
Casein Co of Am com.. 100
01 4 62 4
100
[)
98
H Preferred
100
United Copper
80
100
70
Columbus (O) St J
Preferred
100
55
48*2
83
00
109
\
107
Preferred
100
Latay’eGaslst fls'24-M-N
140
Preferred
32
25
Casualty Co of Amer. UtO 125
1 ila list
LogA WabV lst6s’2AJ-D
U. S. Casualty
lOu 2 25
136
128
Coium By con 5s
108
Go
100
Celluloid
§102
30
40
105
Madison Gas Os 1926. A-O
> §10O
U S Envelope com... 100
10
15
Cent Fireworks com. 100
130
97 4 100
65
Newark Gas Os 1944.Q-J §129
60
9
75
66
HPreferred
100
100
Preferred
91
89
33
)
80
Newark Consol Gas..100
2
24 U S Steel CorporationPreferred
106
Central Foundry
100
105
111
HCon g 5s 1948
hieago list
J-D
15
Col tr sf 5s ’51 opt ’ll .. §109
13 4
Preferred
100
]/kke St (Chic) El
111
105*4
No
Hudson
L
H
A
Pow—
§11)4*4
71
Coltrs f 5s ’51 not opt., §109
68
Deb
6s
1919
op
’01
M-N
100
106
5s 1938
A-O §102
>§103
u S Tit Gu A Indem.100
195
185
Realty
Century
100
list
tk
Ex
214 HO A Ind C Nat A Ill .100
J
21
425
400
HUtah Copper Co. see S
30
22
Chesebrough
Co
Mfg
100
41
39
69 *2
1st Os 1920
J-D
J
i,9
Waterbury
Co,
com..lOU
87
24
4
70
65
City Investing Co.... loo
98
100
Preierred
100
e Stk E x list Pat A Pas Gas A Elec 100
HGenM g4 4a ’35
100
HCIatiin (H B) com....100
; hicago list
Westchester A Bronx
1l Con g 5s 1949
95
M-S § 98
90
North Chic Street
86
Hist preferred
100
98
8t Joseph Gas 5s 1937. J-J § 80
J
95
Title A Mort Guar. 100 1674 1724
93
PUb Serv Corp of N
H2d preferred
33 4 34
100
65
61
t
Western
lee
100
75
74
Tr ctf s 2% to
Col
A liock CoalA I pf 100
Electric
147 t
Companies
146
96
r § 94
6
Weetuigh
Air
Brake..50
Call 5s g notes ’
§
82
1st g 5s 1917
list
J-J
Stk E x iis
50
Chicago Edison Co See C hicago
J
40
97
1014
IfWest
El
Mfg—6s
See
A
Col tr ds Oct 1956..J-J
125
4
4
70
HKingsCo El LAP Co LOO 120
White Knob Min
10
Ti 67
45
40
Oonsolid Car Heating 100
98
2
a**
73
}
71
Narragan (Prov) El Co 50 tx....
Preferred
...10
3
4
65
Cons By LtgAKefrig.100
55
115
> §102 4 103 4 NY A v) El L APowColOO
6
Worthing Pump pref. 100 UO
4
78
Consol Rubber Tire.. 100
70
r §105
107
25
20
Preferred
100
70
40
United Electric of N J100
J 235
37
33
Rapid Tran St By..
Debenture 4s 1051 AAO
68
§ 66
) §105
s
>
y5
95
§101
§
§
Chicle Co..100
Preferred
100
American
175
97
43
183
100
'
■
......
.....
v
{.Boyer pays
acor’dint. f Price per sh. tsaie price, a Ex-rtghts.
xEx-div. 4 New Book. Hdads on Bo’k Jtxch., hot net a very aottve seeortly.
•
BOSTON STOCK EKOHANOO— 3tiok ’leiirl, hi\v.
Share Brice*—Xoi I'er Centum
8a turdav
June 15
Monday
June 17
*87
874
-924
93
•215
*877g 884
•
134
210
•158
161
12
55
►60
23 4
Thursday
June 19
June 20
87°b
*37*8
23'
72
*877g
88 4
93 4
*884
121
16
*55
*19 4
'160
...
*85
79
85
120
•75
*80
120
77
85
16
58
15
56
15
56
20 4
162
215
134
290
160
160
'
298
12
65
23 4
72
95
298
Last Sa l
*50
55
95
10'-.
1G 4
"864 *86 4
102
86
102
*35
160
8
18 4 18 4
120
120
*120
122
*11)4 4 1044
244 ‘244
904 91
*3 4
8
140
56 4
«34 83 4
•2054
*
2
2 4
50
•
88
1
-5
3
*24
107 4 U 8
61
66
2 7*4
32 4
32
97-b
120
J<4
97 =
*7*6'
2 4
•42
81 4
34 4
2
48
82 4
3 a *•.
*4
11
77e
13 4
'...
*2*3*4
......
3
45
‘24
2=4
*40
4o
bi
34 4
t>-4
8 9'
34 4
34
44
4 4
144
124
23 4
13 4
16 u-*
114
134
77
24
13
704
120
•184 19
*14
HO
109
44
***-
24
•2 4
164 16‘*.
loo
loo
19
64°s 044
42-4
104
49 4
48 4
49*4
•64
•1
7
148
1
c
04
7
150
Before
r
4 •
*
4
*4
1
114
11 4
tt
8
1 3
13',
V3
4
765
73 *•.
1 *> 4
760
24
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754
15 4
83 4
*
76
1&V
2
4o
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82 4
SZ
&
33 4
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y 4 ^4
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*
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%
’
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114
8 4
‘2 V
46
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24
‘214
1 o3
153
776
760
214 24 4
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*•38
76=4 76 4
15
15
•45
23
£23
15 4
4
‘2 4
*42
23'b
134
«
*14
*13
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lo
2
♦
H
13
119
24 4
2
119
15
15
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13
13
5
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♦•50
114
*11
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148
26^
44 J’ue 5 1123, Jan 15
2 8i Alay2
7 4 J an ^
366
3,01. L43* Mar 2 6 24=%Jan 17
Alar2b 176
Jau 14
55 4 Jan 8
3634 May2.
19/ 166
6,739
1,306
72
14
63
67
7g Alar2(
MarJi
Alan.
1,255
4 Alar..
1,639 47 4J’ne2.
2,2 lo 41°a Mar..
9.524 118 J’nel
9
34o
6
Mar 11
May 21
25
25
64 5
1
7
25
340
25
fAss’tpauL t Ex-rigms.
a
l
76
49
79
11*8 Feb 27
3 *2
Mar
6 4 J’ly
•46
J’ue
13
Oct
neo
Deo
Deo
Jan
Jan
X ov
Feb
Alar
Deo
Sep
DeO
7 V Jan
A
24 Jan
1 4 J
*
an
4a* Deo
10J’ne
22 4 Dec
8»
11
Deo
Dee
7 4 F'eb
Jan
23=4 Oct
7434 Mai 11.4
■70
J’lj
33
93
J’ly
Mai
-234 J’ty
■60
80
2
-
OOt
4 Dec
664
l.G
48
Mav
oct
Deo
Jan
V Deo
J’ly »14
Jan
9 4 Dec
3’-4 J’O
1V J’ly
5‘4 Jan
VO
j’ui
40
Ala
734 J’Ui
574Ma'
88
Jan
9 4 Sep
51
Mai
43
Ala
52 4 J’m
0=4 Nor
7b Nov
18
22
52
4
131
70
J’ly
Jan
Jan
j an
2<l4beo
7 8
111
Feb
Feb '
U^Ata*
t>6
Jan
47 4 sep
69=4 Jan
1*4 AfAr
2 4 Dpc
5~8 No
14- Jun23
-
Oct
544 Mai
Feb 11
Apr 11. 198
May 22
3^ Jan 29
t
Feb
Oct
29 4 Jan
No.
Jan
Kx-div. <fe rights.
i
Jan 2
Jan 7
Jan 14,
4 3, Jau
la 4 J’ly
•60
J’ne
180 156
424 Jau 2d
77 4 Mar 7
91
Alay 1
13 4 Jau 22
•45
Alay mu
20Ala.
35=4
‘25
42
J’li
lo7
J’D i'-’4
75
Maj 966
17 4.1 ly
-*0 4
*35
1 JO
•76
6034 J’ly 86 4
14
Mai
21 4
61 4 Oct
84
113
Nov . '23
1 4 J’ly
3 4
14 -j Ala.'
2o 4
L31
Dee 146
134 Oct
196
J’ly
0 Ex stock dividend.
Deo
23* Deo
1479
Boston Bond Record.
June 22 L907.
ISO.MIS
Ittt.N Ds
BOSTON STOCK KXGH’WE
Wiltck
ju>k 21
li
Bid
1908
Am Beil Telephone 4«
Am Telep A Tel eoll tr
Kanye
IS-tee
Friday
June 21
SahSale
80*4
Lo io
v
i*.
42
98
TJs7:'- May’07
85*^ J’ne’07
87
80
M-N
MS
Consol 93...5
1924 M-S
Boston & Oowe.ll 48
191 0 J-J
Boston A Maine4*38
1944 J-J
Boston Terimnal lst 3*3S.1947 F-A
Bur A Mo Riv ex Os
'...1918 J-J
A
High.
79*3
1-0
IT-2
J'ne’07
104
Mar’bG
97‘e
97 b,
97 V Sale
Stamped
J’ly 1995
Boston Fillet Light 1st 6s. 1908
January j
Bale
Low
98
as/
98
80
j-j
48.1929 j-j
AmWrrt Paper 1st siosg 1919 J-j
Atcli iis Nebraska 1st 78.. 1908 M-S
Aten Toil A S Fe gen g 4 a.. i995 A-O
AfUuKfweut g 48
.1 Mv 1995 Nov
Last
79
1182
....
Illinois Steel deben 5s.... 1910
Non-con veil deben 5s... 1913
Ia Falls A Sioux Cist 7s.. 1917
Kan 0 Clin A Spr 1st 5s... 1925
Kan C Ft S A Gulf 1st 7s.. 1908
Kail C Ft Scott A M Os
1928
Kan C M A B gen 4s
1934
TI83
....
1
90*4 1101 V
92
85*4
....
91*4
......
Assented income 3«
1934
Kan C A M By A Hr 1st 581929
Maine Cent consist 7s...1912
Cons 1st 4s
1912
Maro HongliA Out 1st Os. 1925
-
Keb’lij
il(j
101
Sep ’00
114
Mar’btl
112*3 Jan ’03
liiii*4 Apr’07
100
1918 J-J
Nouaxompt 6«
1910 J-J
Sinking iuiul 48
rfiitteA Boston 1st Os....1917 A-O
Oedux Rup A Alo R 1st 7s. 1910 M-N
102
Sep ’05
U9*s uct ’00
J’ne’Ol
100
123 b Nov’OO
111*8 J’ly ’On
84
J’ne'oT
109
May’05
98
2(1 7 8
19u9, J-l>
Cent Vermi 1st g4s..Alayl920 Q-*’
0 B
Q Iowa Div l«t 6s. 1919 A-O
1919 A-O
Iowa Div 1st 4s
Debenture 6s...-.
1913 M-N
Denver Exten 4s
1922 FA
Nebraska Exten 4s
1927 M-N
BAiSWst 4s
1921 iVl-S
Illinois L>iv 3*38
1949 J-J
Jem! bonds See (it Northern
Jino J c Ky A Stk Yds 5s .1915 J-J
Coil trust relundmg g 481940 A-O
Ch Alii A St p Dub D Os.. 1920 J-J
Ch M A St P Wis V div 081920 J-J
Chic Ob No Alien 1 si gu 5s. 1931 M -N
Cliio A W Midh gen 5s....1921 J-D
Concord A Aiont cons 4S..192U J-I)
Conn A Pass K 1st g 4s...1943 A-O
Current River 1st 5«
1927 A-O
DetGr Hap AW 1st 4s... 1940 A-O
Dominion Coal 1st s i 6s..1940 M-N
-A
Fitchburg 5s
li>oe
4s
1915 M-S
4^
1927 M-S
FrenK Elk A M o V 3*st Os.. 1933 A-O
1938 A-O
Unstamped 1st Os
G t Noi C B A Q coll tr 4s 1921 J-J
1921 (^-J
Registered 4s
9S58 May’07
11001BMay’07
98 V Apr'()7
83
....
...
2
97*3100
104
89
100
98
103 *e
100
99
89
100
98
90
100
100
100
....
Nov’06
Mar’07
Jan’07
Apr’07
Api ’06
May’07
134*4 Nov’bb
140 ' Apr’05
91*4
92*8
907a J’ne’07
92
99
....
98
97*4
96
88 b
9078
....
M-N I
M-S
M-S
A-O
1916
5s
191b
Wisconsin
.Noth—Buyer nays accrued interest in addition to the purchase price lor all Boston
Bonds.
" No price
Jarnnary
1
Lo tv
H j S'*
98
100*4
May’07
98
'08*4
114 ”
i’io*'
Hiyh
Av
102 Vi Nov ’00
115
115
9 i Hi Dcc’O"
92
Mar’07
115
113
91
9.i
92
101
92
09
Nluy’uT
113 \ Nov’OO
A-O
A-O
A-O
J-J
101‘4 Sep ’9;
78'4
79V-
Muv ’04
118
78
78 *4
26 Hi Oct ’Ob
:sh
85*9
17*4 Aug’UG
96
102 >2 Amj’04
96
J’ne’07
100
Mar’07
97
99 *3 100
100 H, 100 *®
103*s May’07
101 *a Sep '06
1102’*, Jan ’05
112138 Mar’06
102
May'07
102
lOO1®
96
100Hi Jan ’07
A-O
A-O
J-J
A-O
J-J
F-A
J-D
F-A
J-J
J-J
J-J
1033a 106>
roa
103
107 Hi Nor’05
102
Alai’02
98 Hi May’00
101 Hi 105
97
97
101 Hi J’ne’07
lOll* 102
97
Apr’O/
99 Hi Nov’OO
IJIOI’4 May’07
1150 *s Apr’06
iod«i «jioaT
112*4 Apr *07
96
93
101* Apr’07
107
112*4
94
1199 \
100 Hi 100 >9
101 *4 102
96
96
98
10238 Jan '06
951 si May’07
98
91 H 91
91
994 100**
99
91
109
110
^[95Hi May’07
100‘3 Jau ’07
*3Sep’05
109^ Aug’05
J-J
Valley 1st 7s..1909
since
®
A
i0078 Oct ’00
98
J-l),
Fan ye
-
^
99 V Mnv’O'i
122*4 Nov’06
Ask Low
99 v
Rutland-Canadian Ist4sl949
Savannah Elec 1st oons 6a. 1952 J-J
Seattle Elec 1st g 5s
1930 F-A
Terre Haute Elec g 5s....1929 J-J
Terrington 1st g5s
.T918 M-S
Union Pae ER A lgrg 48.1947 J-J
1st lien conv 4s
1911 [M-N
United Fruit conv gen 5s\ 1911 M-S
U S Bteei Corp 10-00 yr 5s. 1963 M-N
West End Street Ry 4s.... 1915 F-A
Chold 4Jos
1914 M-S
Gold debenture 4s
...1916 M-N
1917 F-A
4s
GoM
Western Teleph A Tei 6s. 1932 J-J
Wisconsin Cent 1st gen 4«1949 J-J
100*3 102
1
100*3
Mar’07
99
9l34
102H
94*3 95
Feb’05
Apr’07
5s
Oreg Ry A N av con g 4b. . 1940
1922
Oreg Six Line 1st g Os
ELepub Valley 1st s f 6s... 1919
Rutland 1st con gen 4 >38.1941
100
....
U2*4 Jan ’03
92
97*3
9lv
Apr’06
97 V
100*3
101
..
97*3
90*8
....
101
Feb’O/
100
95
122
120
Sale
94
......
....
Last sale
J-J
A-O
A-O
AO
4s.. 1911
Jan 1939 J’ly
Jan 1939 riy
New England oons g 5s... 1945
Boston Term 1st 4s
1939
N YNH A H con deb 3**8l95K
Old Colony gold 4s
..1924
*8 7100*g
98
9»3,
....
May’07
90 H
100
90
98^ 10O*v
102
June 21
M;oh Teleplst 5s
1917 J-J
Mimne Gen Elec con g 5s 1929 J-J
New Eng Cot Yam 5s....1929 F-A
New Eng Teleph Os
1908 A-O
1100
-
cons
1st cons me os
2d cons inc 3s
....
....
7S J’ueud
97Hi May’ll?
Mexioan central
106*4 107*8
....
Wee U s
Kanye or
! Bid
HufU
9* *4
90*4
96*4
thrice
Friday
-C
=C
BOSTON STOCK EXCH'GE
Wkkk K\l>l.\’<- Jt’NKAM
siiice
kanye or
1i Fiat price.
Friday; latest bid and asked.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
Price-
‘"'iinrc i Vices*—Not. i’er Centum
ACTIVE STOCKS
7
Motion "
June 17
.>0'until a
June lo
yVe^nef ■nay
June 19
uesi tau
June IS
June 21)
*79
90s*
90*4
90*4
90*4
11
1L
90H;
•
10*4
90*4
90 v
90
11
11
90
•90
11
11
•13
•25
•11
48 *3
37
48 H
•48*3
9*8
96b
*10*3
(For Bonds and Inactive
hnday
June 21
Thursday
.
Stocks see below)
BnKimere
Con. Gas El. L A Pow.100
Do
81
100
pvei
50
90*3 Northern Central
15
seaboard (now)
100
Do
2d pref
30
100
11T United Ry A Electric.. 60
48*4
3 6*4
3 od»
9*3
9<V
‘48*-j
36*4
9 *3
19 >3
'8 *3
•81
60 b
1
59
•39
y
8
82
81
60*4
60*4
1
1
69‘H
59 *4
*39 V
4ti
8*10 *716i0:
23
23
23
49**10 50!
"40
*40
*
5*7
90*4
4-
41
41
67 Hi
9 lJV
6ia
*4o
*40
-57
90*v
48*4
*48*3
48*4
36*4
•37
37 H
9V
19 V
8
81
6l*J
1
5 9 7b
9*8
8
8
*7*4
8
81 *8
60 7e
82
61 *4
81*4
61*4
1
1
60*8
59i*10
40
‘4
8
23
5 0 °8
4 L
41
57 *3
90 °b
8
23
237g
49**10 51*10
•40
41
*39*4
4U
58
68
9 i
Bin
*3
American Cement
Amtn* Pipe Mfg
Be*l Teteidtune
Ask
50
5b
Cambria /eon
6b
Central Coal A Coke. 10b
Consol Tracot N J...10U
Diamond State steel.. 10
51
52
47 «*
48
£n*Unon|*oUs St
100
Inland Union Tr—100
Insireance Co «f N A.. 10
InwarBm Ppw& Chem.oO
Keystone Telephone ..5b
Pttaftsrred
il 1 me bill As
48
61
21
.....
8
32
50
Seliuyi H.. 50
N Haven Iron A Steel.5'
Xon hern Central
50
N otth l'emisj'lvania.. 50
PiettATed
100
Plain G’o\Prtts) iiref...50
Pbil Gvmiau tfe Norris.50
50
Piula lYnctiou
2 H.
101H
100
43
161
92 H
44
Union Tr ot lud
lott
U mttsd N J 4 K d; C.. 100
Unlt TVac Piets pret,..50
Warwick iron A- Meei.io
West Jersey & ,>ea.8h.5u
Westiuurelaud Coal—5t
Wilkes
A Eter..l.0o
*
Bid anil asked
59*8
597g,
40
8
40
68
58*4
s*ti
24*4
50*8
41
41
58*4
927s
93
94
24
60
*40
•
*40
59*8
14*8
•40
*40
58*4
93 *9
*26
Bid
PlULAIJELPiUA
AmUyscunv5s 1911. J-D
Atl City 1st 6s g T9.M-N
Bails Ter 1st 5s 1926. J-D
Ky 1st con 5s 1932
ConTracofN J 1st 5s.’33
E A A 1st M 5S 1TJO M-N
Eq Ii GasX 1st g 5s 1928
H A 13 Top con 5s ’25 A-O
Indianapolis Ry 4s. 1933
Interstate 4s 1943 ..F-A
DelrigiiNav 4H»s T4.Q-J
1914.HI-F
RRs 4s g
Gen M 4His g. 1924. Q-F
LoR V C 1st 5s g »33..J-J
Leh V ext 4s lstl948wJ-D
2d 7s 1910
Consol 6s 1923
M-8
J-D
Annuity 6s..„
98
ioV
J-D
6s r 1910.. Var
Penn gen
14a4
Consol 6s r 1919... Var
Penn A Md Steel con 6s.
Pa A NY Can 5s ’39.A O
COn 4s 1939
A-O
Penn Steel 1st 5s T7 M-N
9
53
300
10*3Mari2
6
364
666
48*3 J’no20
32H Marl4
H7e Mar ji
4
Muyli19
May 21
6:^i May20
P Co 1st A col tr 5s’49 M-S
Con& col tr 5s 195LM-N
Phil Eiec gold trust ctfs.
Trust certils 4s
P A E gen M 5 g ’20. A-O
Gen M 4s g 1920.AO
prices; no sales on this day.
Ex-rigli.s.
14b
110
0O5
....
35
85
97
Jan
‘9
80
Uct
Jan 26
97
22
48
13
J’ly
23*4 J an
7
Jan
7
48
14
AprlO
789
59*8 Pennsylvania RR
60
40*2 Philfldelp’aOo (Pittsb). 5b
Do lst prsf
Do
2dpief
68** U nton Trac ton
United
Gas
94
Impt
Welftbsdi Co
30
1
50 16,849
100
Bid
98
19
Ph A Read 2d 6s ’33.A-O
Oon M 7s 1911
J-D
Oen M 6s g 1911....J-D
Ex Imp M 4s r ’47 .A-O
11?
lthi
Terminal 6s g 1941.Q-F
PWABcol tr 4s *2*1 .J-J
Portland Ky 1st 6s 1930.
109
ii/T
103
93
613
PHILADELPHIA
A*k
93 *v
39
J’ne 6
63
Mar 14
80 H. Marl4
25
May2i
......
50
Rock Ry&L con 5e’54J-J
U Trao lad gen 5sT9.J-J
Un Bys Tr ctjs 4e’4VJAJ
United Rys Invlsteolltr
sits 1920
M-N
U Xrac Pit gam 5s *97 J -J
Welsnach « r 5s 1990. J -1)
107
Wllcs-B GAE oeASe'Ba J-J
106
85
flAl.TI fiHULL
63 4
108*3
106
iis"
98
Clias
HOHi
149
110
118
150
94*a
97
81*8
80 V
*4
l i0
71*4
70
Georgia Sou A Fla...lOO
let pref
100
i#o
10b
AnacosUa A Pot 5s
Atl A CU 1st 7... 1907 J-J
Allan C L KK4sli>52M-S
Atl Coast L(Ct>etfs 6s J-D
Ctteol indebt 4s....J-J
6-20 yr 4« 1925
.J-J
Balt CPCtss 1st 6s ’ll M-N
Balt Ftrhdg 6s. 1919 M-N
113Hi
99
104Hi
95 Hi 05*4
99*4 100
69 \ 69*3
U ^7.50 paid,
Exchange 8*38 1030 J-J
Balt A P 1st 6» hi 1 ’ll A-O
Balt Trac 1 st 5h ’29 M. N
No Balt Div 5s 1942 J-D
..
Ceut’l Ry c«n5el932 M-N
Ext A Imp 58.1932 M 8
L’haa City Ry 1 st 5s ’23 J-J
t #15 paid 1 ilb paid
30
Keb18
4
*y*J**
225
87
92
2*0*
02 H
75
4
96
80
5
99 H 100
100
95 H
106
82
82
101 H
H? 109
100 H
167
iby"
no
197
115
109
107
103
104
95‘4
104
77
77
lol
1«>7
435 paid
Col AGrnv lstOs.lOlOJ-J
Consol Gas 6s...1910 J-D
9s
1939 J-D
Ga A Ala Lst con 5s ’45 J -J
Georgia P lst Os...’22 J-J
GaSo A Fla lst 5s 1945J-J
G-B-S Brew 3-4s 1951MJS
Duck 1st os.
lst 5s’38 M-N
General 6S---.1941 M-S
Norrolk st lst 6s’44..J-J
North Cent 4 *os 1925 A-U
Series A 5s 1926....J -J
Series B 5s 1926
J-J
Pitt Uu Tsac 6s 1997.J-J
Pole Val lst 6s 1941..J-J
West5s’34 A-G
Seaboard A L 4s iy60 A-U
Scab A Roan 5s 1926. J J
South Bound 1st 6s..AG
U El LAP let 4Hie’29 M.N
Un Ry A El lst 4s '49 M-S
income 4« 1949
J-D
Sav FlaA
Funding 6s 1936...J-D
Virginia Midland—
2d series 6s 1911...M-8
3d senes 6S 1916..M-8,
4th ser 3-4-6s 1921.M-*
5tii senes 5s 1920.M-b
Va (State! 3s new ’32.J-J
Fund debt 2-3s 1991. J -J
West N C con Os 1914 J-J
Wes Va C A P1 st 6g’l 1J - J
Wil A Weld 5H..H135.J-J
a Keoeipts.
Nor
14
Jan
Jan
.J'ljo Jau
a54
**
b $25 paid
Mar
9*i„ Oct
#31 '4 Jan
Jan
83
47**10 Jan
51
447s
6j
58*8 l>er
'flSl Hi May 101
32
25
Deo
Ry G A El 5s ’99 M-8
.vlt Ver Cot
N pt NAO P
12 ^
23*4 Jan
LakeR El lst gu5x’42Al-8
Memphis St 1st 5s’45 J-J
.MetSM Wa8l01at5H*25F A
97
235
Jan
39*4 Nor
Nov
2d income 5s 1961 M-N
85
54
Jan
Dec 118
May 80 J’neOct 3**ie Jan
GaOarAN lst6sg’29J-J
75
..„
Jau 14
60*8 Jan ‘22
96’t)Jan 5
19
48
70*iieJan
4*
Deo
J an
.1 an
Jan
Nov
J >ei
City A Sub 1st 5s..’22 J-l>
City A 8ub(Was)Lst 5s’45
Coal A 1 Ry 1st 5s’20F-A
ibo” 102*
1001 *80*’
Bond*
105
6
31
Knox v True lst 5s ’28A-0
Atlanta A Charlotte.. 100
AUanOoASt Line KE.100
Allan Ceast L (Conn)lOO
Canton Co
loo
Cons Cot Duck Oorp...5<)
Preferred
5«
2d pref
G-B-S brewing
Jan 25
Clmrl C A A ext 6s.’09 J-J
2d 7s
1910 A-O
ibo
Inaedve Stocks
Ala Oons OeaiA Item.lOO
Pret
8
50*4 Sep
30*4 Jau
ii
Mh>
iiALTUiORL
Ask
118
110
100
.
62*4
llH.Jau 14
Dec
1»»«Dec
8 61*8 J’ly
Apr
48*%Jan 4 47
6 *s Dec
9
Apr 4
15*e Mar27 §26*ftMuy 6 cl 9*4 Dec
45*4 Mar2f. 69'V Jau 7 56 V Mh>
40
43*8 Apr
Maj 24 4v» *b Jau 14
58 *3 Mar26
39 *3 J ’ 11014
7 V Mari 4
130
60
50
L
41
4
51
Jan 2
47 4 Jau 24
J ’ns
J’US
41
90
1J 1 *4
32
62 V
35 Hi Dec
Jan lb
36
Jan 25
16
J an 8 14*3
Jau 7 100
.Mar 14 103
Mar< 4 7i?78Jan 5 05
2 *3 Jan 7
Apr 6
78
67
1,125
1,572
100
1 la Marsdeu Co
117*4
Gen cons 4s 2003.M-N
Leh'V Tran con 4s ’»5J-D
New Con Gas 5s 1948 J-D
Newark Pass eon 5s 1930
NY Pii A No 1st 4s ’39 JJ
Income 4s 1939...M-N
NoOhioTrae con5s’ 19. J -J
People’s Trtr certs4s ’43
,
Mny29
86
Mnrl4
19*3 Feb 25
35
Mar 15
8*10 Philadelphia Electric!. 25 4,800
23*4 24-g Pilik* Rapid Transit#.. 50 16,132
50 41,93<
49»io 50»io Reading
93 H
Kamv’ays -General
10
SuKCfueh Iron Jfc Steel..5
L'ldeWiiter bteel
10
lb
Preferred
Tonopah .Mining of NOvl
62
Elec A Peo Tr stk tr otfs
lo
Pemisyivauia Balt
60
Pruusytvama Steel..100
81
61
L
Col St
K^yutecneWateto Case. 100
LiUletSclruylkiil
58
92
•<*4
8
817g,
Do
pref tr ctfs
Lake Superior Corp
loo
a
100
81
Lehigh 0 A Navtr cU’s. 60
Oi *-i laihigli Valley
50
21
•
59*4
39*4
8*8
24*«
60*b
41
40 Hi
9 Hi
•4
*19
Choc & Mo 1st 5r, ^949 J-J
CU Ok AG gen 5sT9 J-J
60
Lit ItwftfterH
*39*3
*61
60 7„
37
BergAEBrw 1st 6s 21J-J
Rethks Steel 6s 191+5.<4-F
U
Pqei*rred
Easton cm 1 Electric 6.50
Elec
Butt
10b
100
Pnrtletred
Ft Wayne AW V.....100
Genua 1H0 wn -Puss
50
49*3
645
American Railways.... 50
49
Cambria Steel
50
37
9*3 Electric Oo of America 10
Gen Asphalt tr etis ....loo
6
Ronds
A1 Val E ext 7s 1910 A-O
Alt&LVEleo 4 Hi^’33.F-A
50
100
£
24
•7*4
81*3
37
...
1 micti ve .Stocks
Allegheny Valprel
59*8
39*,
•40
92 *3
.
I’ll JL.4DLLIVIIA
48*4
37*4
9*4
81*4
*39
40
8
9*4
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33 Hi Jan 15
8<>
liu/liest
Lowest
lily he si
Ptiilndelphin
-
*48*3
Fear ( )9i/fi >
19t/7
Lowest
l*reviou*
Kanye tor
Kanye tor Fear
Sales
tlbl
Week
Share*
Ot
Jan
Aug
Feb
Mar
Bin
A tk
91 V
105
92*4
105**3 107**
101*3 i;»2
100 H lol H*
\ 13
no
145
110
\T 105
104 H
105 * 4O0*m
112
117
109
103
0 i’i
52*4
20 \ 31**
105
104
.
100
......
1*0*7** 109**
79*3
90
105
104
no
1j 9
107
80
107
T
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108
ll>0
71
77*4
100
106
84
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50
78*,
105
194
104
10j
90
-
109
89
85
50**
79
107
90
105
107
105 H 106
111*. 114
e $30
paid.
1480
THE CHRONICLE
jwiwstramt and Railroad Intelligence.
RAILROAD
GROSS
EARNINGS..
The following table shows the gross earnings of every STEAM railroad from which
regular weekly or monthly returns
can be obtained.
The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and
including such
week or month.
a
statement to show the fiscal year
period.
The returns of the street railways
Latest Gross
IiOADS.
Week or
Month.
are
Earnings.
Current
Year.
Ala Ten n <$: North.. March
k Atch Top & S Fe_ April
Atlanta & Chari
March
Atlan Blrm & Atl’c. April
Atlantic Coast Line April
Baltimore & Ohio.. May
Bangor & Aroostook April
Beliefonte Central.
May
Bridgetu & Saco Kiv April
_
ButI Roch & Pitts.
Butralo & Susq
Canadian Northern.
Canadian Pacific
Central of Georgia._
Central of N Jersey.
Chattan Southern._
.
2d wk June
April
2d wk June
2d wk June
2d wk June
April
2d wk June
Chesapeake & Ohio. April
Chcsterlield <Sc Lane
Chicago & Alton Ry
Chic Great Western
Chic Ind & Loulsv.
Chic Ind & Southern
Chic Mllw & St Paul
Cldc & North West.
Cldc St Paul M & O.
Chic Term Tran RR
Cln NO & Texas Pac
Clnclnnat* Northern
Clev CIn Chic & St L
Corolado Midland._
7iCol & South Sys__
Col Newb & Laur__
Current
Year.
1,454,410
771,398 10,773,188
2d wk June
169,164
169,641
2d wk June
117,622
110,118
—See New York Cen tral.
9,034,060
5,702,825
ROADS.
Week or
Month.
N Y O & Hud River
Lake Shore & M S
Lake Erie & West
Chic Ind & South
May
May
May
May
Michigan Central. May
Cleve C C & St L. May
2,737,476
1,271,692
1,188,976
24,440
67,031,712
3,111,390
915,008
20,464,632
70,819,244
2,066,989
53,721
38,996
7,567,480
1,306,233
5,224,200
58,594,404
10,936,674
20,033,507
131,632
20,210,089
Peoria & Eastern
Cincinnati North.
Pitts & Lake Erie
Rutland
N Y Chic & St L.
N Y Susq & West..
Norfolk & Western.
Northern Central__
Northern Pacific
Pacific Coast Co
d Penn—East P & E
d West of P & E.
Peoria & Eastern.
Phlla Balt & Wash.
__
_
86,263
Mav
1,300,193
272.168
891,002
__
_.
276,118
2,681,219
1,101,102
__
__
6,404,777
631,705
_.
__
__
April
—See New
April
.
Philadelphia & Erie February
_
Pitts Cin Chlc& St L April
Pitts & Lake Erie —See New
Raleigh & Southport March
29,376
9,852,416
8,411,720
5,634,619
July 1 to Latst Date.
Previous
Year.
8.418,605
3,770,660
415,449
244,806
2,371,460
2.292,469
253,430
May
May
May
May
April
April
April
May
April
April
Current
Year.
Current
Year.
April
4,995,664 4,343,801 50,742,857 46,309,078
April
5,410,595 5,148,018 57,123,691 52,585,872
1,133,144
April
956,842 11,831,653 10,904.888
4th wkMay
45,513
46.294 1,568,091 1,580,435
13370388 10249188
Inc. 1,29 7,400
York Cen tral.
April
2d wk June
April
March
Denver & Rio Gr
;2d wk June
Detroit & Mackinac 2d wk June
Det Tol & I rout Sys 1st wkJune
Dul So Shore & Atl. 2d wk June
Erie
April
Evansville & Ter 11 —See Rock
Fairchild & N E
April
Fonda Johnst&Glov April
183,338
154,961 2.056,345 1,777,577
258.905
221,899 12,755,132 11,142,032
26,375
21,989
270,912
246,351
69,114
=56,651
595,678
505.373
18,892
15,032
182,828
170,173
41,468
26,980
403,529
373,031
465,800
401,200 20,202,466 18,683,680
25,833
23,353 1,242,517 1,096,217
82,171
75,207 3,994,438 3,852,988
74.386
63,944 3,150.932 2,903,114
4,671,405 3,517,262 44,134,214 41,398,166
Island S ystem.
1,674
1,328
15,405
19,278
66,620
50,621
643,463
587,286
224,480
237,046 2,573,716 2,420,212
Georgia RR
April
Georgia South & Fla —See Sout hern Rail
Grand Trunk Syst__ 2d wk June
907,376
Gr Trunk West.. 1st wkJune
112,148
Det Gr H & Mllw 1st wkJune
25,228
Canada Atlantic. 1st wkJune
36,114
Great Northern
May
5.407,702
Montana Central. May
231,840
Total system
5,639,542
{May
Gulf & Ship Island.! 1st wkJune
54,591
613 .233
Hocking Valley
; April
Illinois Central
I May
4,835,104
Inter & Great Northi2d wk June
128,000
alnteroceanlc (Mex) 2d wk June
130,821
2d wk June
Kanawha & Mich._ April
Kansas City South. May
Lake Erie it West’ll —Sec New
Lake Shore & M Sou —See New
way.
808,783
91,943
24,541
39,579
4 158,354
222,669
4,381 ,023
48,414
385,145
4.258,971
121,000
128,692
58,593
56,981
219,139
153,001
866,467
765,652
41,621,980
5,631,151
1,656,105
1,818,550
48,259.568
2,522,372
50,781,940
2,333,431
5,563,460
51,700,738
8,256,380
6,846,420
3,019,860
1,931,752
8,414,454
York Cen tral.
York Cen tral.
37,683,847
5,024,248
1,467,865
1,819,659
45,082,093
2,503,762
47,585,855
2,002,197
5,439,465
47,336,016
8.489,321
6,085,117
2,828,565
1,788,237
7,090,909
_
_
5,362,014
35,541, 645
32,010, 458
67,552, 103
1,563, 349
618, 796
578, 376
49,759, 439
41,503, 098
1,909. 635
93,172, 174
46,227
,670,065
,995,517
,665,582
,377,229
505,170
538,281
,135,736
,444,736
.816,461
.396 934
1,443,119
1,283,401
York Cen tral
136,325
May
May
April
123,441
34,094
2d wk June
2d wk June
1st wkJune
1st wkJune
Virginia & So West. May
2d wk June
2d wk June
April
33,221
128.793
'95,290
10334295 8,662,723
Toledo Peo & West. 2d wk June
31,064
Toledo St L & West 2d wk June
80,957
Tomblgbee Valley.. March
6,502
Tor Ham & Buffalo May
91,418
Union Pacific Syst. April
6,287,988
_
56,824,077
—See Rock Island Sy stem.
2d wk June
179,820
163,190 10,074,371 8,589,842
March
1,615.557 1,452,601 12,206,059 11.323,134
1,057,224
196,345
173,201
73,954
Georgia So & Fla. May
174,099
Texas Central
1st wkJune
21,152
Texas & Pacllic
2d wk June
262,646
Tidewater & West. April
8.469
Toledo 4c Ohio Cent April
408.169
Wabash
Western Maryland.
West Jersey & Sea.
Wheel & Lake Erie.
Wisconsin Central.
2,301,886
23.452,513
9,123,381
72 904
____
—See New
2,429,864
8,860,188
York Cen tral.
_
April
12,471,824
1,435,773 1.235,473 13,716,974 12,468.474
595,663
543,723 5,923,797 5,807,016
2,747,674 2,267,892 25,655.321 23,510,733
_
Rutlaud
St Jos & Grand Isl.
St Louis & San Fran
St Louis SouthwestSeaboard Air Line..
Sierra Railway
Southern Indiana.
c Southern Pac Co.
Southern Railway..
Mobile & Ohio...
Cin N O & Tex P.
Ala Great South.
37,483,606
4 870,840
2,055,025
23,002,410
21,609.464
2,857,768
849,085
128986970 117554170
Inc. 6.70 3,600
____
—See Sout hern
Iia I! way
—See New York Cen tral.
—See New York Cen tral
Year.
3,652,111 39,735,715
400,445 4,697,073
168,549 2,431,116
2,099,087 25,114,299
1,989.663 23,348,319
237,574 2,773,363
86,303
949,216
1,314.532 13,089,878
227,120 2.648,535
844,236 9,415,663
185,500 2.552,510
2,408,442 25,542,391
722,602 10.279.481
5,469.545 62,800,214
479,460 6,015.592
6,648
10,624
April
3,998,069 2,461,844
Coal & Iron Co__ April
4,121,379 1,074,565
Total both cos
April
8,119,448 3,536,409
Rich Fred & Pot
April
197,126
166,038
Rio Grande June
March
57,198
48,300
Rio Grande South.
2d wk June
11,633
11,371
Rock Island System April
5,030,048 3,800,204
e St L & San Fran April
4,340,007 3,147,838
f Evansv & Ter H April
190,512
159.705
Total of all llnes. April
9,560,568 7,107.747
Reading Railway.
Previous
7.250.241 87,457,177 82,135,615
....
Copper Range
Cornwall
April
Cornwall & Lebanon! April
Iowa Central
2,987,223
52,274
54.293 1.507.461
3,877
3,830
35,770
8,429,356 6,746,879 77,432,992
378,279
379,921 3,217,925
148,758
101,934 1,307,500
2,444,409 2,159,462 22,401,746
7,370,849 6,817,034 75.047,836
296.905
242,225 2,674,917
5,562
4,395
54,048
3,439
3,271
38,953
222,990
114,611
8,181,317
168,127
97,908 1,514,391
224,300
138.900 6,962,400
1,542,000 1,199,000 68.447,677
214,400
183,100 11,718,463
2,335,095 1,306,867 21.784,664
3,245
2,793
158,675
996,979
April
Latest Gross Earnings.
Previous
Year.
2,209,621 2-,005,871 20,975,238
7,498
4,582
40,128
March
year
July 1 to Latest Date
Previous
Year.
Ala Great Southern —See Sout hern Rail way.
Ala N O & Tex !Jac.
N O & N East
4th wkAIay
117,838
110,768
Ala & Vicksburg. 4th wkMay
58,537
51,695
Vicksburg Sh & P 4th wkMay
latest
We add
supplementary
does not begin with July, but covers some other
brought together separately on a subsequent page.
totals of those roads whose fiscal
__
2d wk June
April
Wrightsv & Tennllle April
Yazoo & Miss Valley Alay
94,709
603,610
125,260
389,114
147,066
667,042
17,039
697,333
1.498.171
102748811
973,738 54,034,013
165,490 10.218,156
163,542 8,098,555
67,915 3,864,951
164,967 2,069,950
12.863 1,170,221
212,212 15,968,860
6,715
74,613
205,041 3,996,832
24,782 1,225,818
67,164 3,921,181
48,420
4,596
57,789
798,602
5,339,805 62,518,034
95,316
961,770
525,393 26,070,427
110,698 5,336,228
398,114 4,399,084
88,685 5,879,736
584,637 6,189,622
14,862
196,122
728,959 8.759.172
,297,318
,423.626
.310,131
,961,953
,866,761
,525,452
,778,777
897,933
.510,011
71,083
,494,073
,235,328
,946,570
36,637
676,179
.107,330
920.774
.733,911
,559,388
,111,584
,091,673
,904,298
179,197
,955,083
Lehigh Valley
3,069,581 1,817,144 29,500,445 27,198,658
April
Lexington & East.. April
57,599
43.694
474,185
430,478
Long Island
Inc. 99, 860
April
inc.813, 623
Louisiana & Arkan. April
120,2641
96,416
983,910
851,156
Louisville & Nashv. 2d wk June
920,435
848,515 46,010,498 41,024,962
Macon <5c Binning.. May
11,221
12,923
152,756
152,177
Manistee & No East March
44,654!
44,060
Manlstlque
May
7,795!
13,693
71,523
87",750
Maryland & Penn._jApril
34,217!
31,765
297,627
301,773
a Mexican Central. .1 April
2,920,991 2,500,372 25,496.125 23,315,445
a Mexican Internat. 2d wk June
173,7431
174,607 8.025.350 6,985,007
a Mexican Railway.'4th wkMay
196,3001 204,500 6,905,900 6,060,300
a Mexican Southern 4th wkMay
39,826
36,481
1,179,531 1,116,661
Michigan Central
—See New York Cen tral.
Mineral Range
3d wk June
15,3991
11,199
753,480
705,497
MInneap & St LouIs|2d wk June
77,393
73,697 3,661,111 3.547,107
Minn St P & S S M_ 2d wk June
260,562
208,943 12,130,772 10,927,202
Mo Kansas & Texas 2d wk June
474,304
372,399 24,960,028 20,229,391
Mo Pac & Iron Mt._ 2d wk June
884,000i 773,000 44.774,752 40,648,538
Central Branch2d wk June
27,000
35,000 1,561,322 1,809,313
Total
2d wk June
911,000
808,000 46,336,074 42.457,851
b Mobile Jack & K Cl December
139,700
92,984
743,921
466,475
Mobile * Ohio
—See Sout hern Rail way.
Nashv Chatt & St L April
1 130,479!
964,619 10,002,364
a Nat RR of Mex_. 1st wkJune
300,246269,672 15,079,597
Hidalgo & N E__ 1st wkJune
950,302
20,880j
24,199
Nev-Cal Oregon
Nevada Central
N Y Chic & St Louis
N Y Out & Western
May
April
24,723!
9,959!
—See New
April
20,520
9,664
241,470
66,639
207,260
46,582
6,781,045
6,008,174
York Cen tral.
707,503!
343,017
8.997,262
13,202,300
AGGREGATES OF GROSS
Monthly Summaries.
1st
2d
3d
4th
1st
2d
3d
4th
1st
2d
week
week
week
week
week
-week
week
week
week
week
April (42
April (44
April (43
April (47
Alay (43
May (41
May (41
May (47
June (43
June (38
roads).
roads).
roads).
roads)
roads).
roads)
roads).
roads).
roads).
roads).
Cur’nt
Year Prev’s Year.
9,726,621
10,329,969
10,414,829
15,171.383
10,161,954
10,262,925
10,326,105
16,473,009
10,439,372
10,393,022
8,688,049
9,045,571
9,069,733
12,437,852
8,790 083
8.858,051
8,911,372
14.403.490
9,016,905
8,877,969
Inc.
or
Dec.
Period.
Atlanta & Charlotte Air Line
Mch 1
Jan 1
Jan 1
Bellefonte Central
Manistee & Northeastern
Manlstlque
Jan
Mexican Railway
Mexican Southern
New York Central
Lake Shore & Michigan South
Lake Erie & Western
Chicago Indiana & Southern.
Jan
Jan
Jan
Jan
Jan
Jan
Michigan Central
Jan
Cleve Cin Cldc & St Louis
Jan
Peoria 8c Eastern
Jan
Cincinnati Northern
Jan
Jan
Pittsburgh & Lake Erie
Rutland
Jan
New York Chicago & St Louis Jan
Northern Central.."
Jan
d Penn—East of Pitts & Erie... Jan
d West of Pittsburgh & Erie.. Jan
Phila Baltimore & Washington. Jan
Jan
Philadelphia & Erie
Pitts Cin Chicago & St Louis
Jan
Rio Grande Junction
Dec
Texas & Pacllic.
Jan
West Jersey & Seashore
Jan
1
1
1
1
Mch
Previous
Year.
Aich
31
31
31
Alay
31
378,279
24,964
136,482
26,218
Alay
31
3,315,600
2,898,300
31
569,180
31 38 246.635
537,333
35,229,579
Alay
379,921
22,568
133,406
36.669
to
May
May
1
1
to
to
May 31 17,798,433 17,049,799
May 31 2,009,642 2,122,918
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
May
May
May
1
1
1
1
1
1
1
1
1
1
1
1
1
Monthly Summaries.
%
+ 1,0*8 572 11.95
+ 1,284,398 14.19
+ 1,345,096 14.82
+ 2,733,531 21.98
+ 1.371.871 15.61
+ 1,404,874 15.74
+ 1,414,733 15.88
+ 2,069,519 14.37
+ 1,422,467 15.77
+ 1,515,053 17.06
Cur’nt
to
Alay
May
May
31
31
31
31
31
31
May 31
May 31
April 30
April 30
April 30
April 30
Feb
28
April 30
Aich 31
June 14
April 30
1,244,649
976,854
11,457,855 10,445,700
10,115,925 9,322,727
1,175,640 1,203,949
381 503
397,250
5,655,540 5,687,380
1,117,196 1,010,067
4,399,454 4,094,369
4,008,727 3,473,627
50.573,929 45,607,029
Inc. 2.6 32.100
5,211,236 4,784,536
1,225,459 1,175,358
10,317,296 9,301,521
255,266
196,825
7,657,741
6,026,203
1,340,278 1,268,278
'
Year Prev’s Year.
Inc. or Dec.
$
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
c
Aug 1906 (118 roads). 179,191,945 159,835,022 +19 ,356,923 12.11
Sept 1906 (122 roads) 184,551,471 171,553,520 + 12,997,951 7.58
.
Oct
Nov
Dec
Jau
Feb
Mch
1906
1906
1906
1907
1907
1907
(119 roads). 198,733,229 179,405,267 + 19,327,962 10.77
(123 roads). 186 606,274 175,727,985 + 10,971,289
6.24
(127 roads)
184,235,595 170.746,769 + 13,488 826 7.90
(123 roads)
173,212,305 162,623,883 + 10,588,422 6.51
(122 roads). 162,283,992 152,555,191
6.05
-1-9,728,801
(118 roads)
180,539,532 164,645,009 + 15,894,523 9.65
April 1907 (118 roads). 188,130,451 154,894,748 + 33,235,703 21.45
May 1907 ( 67 roads). 83,611,407 72,722,063 + 10,889,344 14.97
Includes the
.
.
.
Houston & Texas Central and Its
Illinois In both years.
subsidiary lines In both
h Include*
J Includes Evansville & Indiana RR.
k Includes in both years earnlngl
earnings of Col. & South., Ft. Worth & Denver City and all affiliated lines, excepting Trinity & Brazos Valley RR.
of Denver Enla <Ss Gulf RR., Pecos System and Sa^ta Fe Prescott & Phoenix
Ry.
to
to
to
to
to
to
Year.
EARNINGS—Weekly and Monthly.
Mexican currency,
b Includes earnings of Gulf & Chicago Division,
years,
d Covers lines directly operated,
o Includes the Chicago & Eastern
a
Current
Various Fiscal Years.
June 22 1907
Latest Gross Earnings by Week.—In the table which
follows we sum up separately the earnings for the second
week of June.
The table covers 38 roads and shows 17.06%
increase in the aggregate over the same week last year.
Second week of June.
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific
Central of Georgia
Chattanooga Southern
Chicago Great Western
Chicago Indlanap & Louisville.
_
Colorado A Southern.
Denver A Rio Grande
Detroit & Mackinac
Duluth South Shore A AtlanticGrand Trunk of Canada
Grand Trunk Western
Detroit Grand Hav A MIlw.
Canada Atlantic
J
International A Great Northern
Interoceanlc of Mexico
Iowa Central
Louisville & Nashville
Mexican International
Mineral Range
,
Missouri Kansas & Texas
Missouri Pacific A Iron Mtn
Central Branch._
Mobile A Ohio
National RR of Mexico.
1906.
Increase.
$
$
I
114,611
138,900
1,199,000
183,100
2,793
169,641
110,118
221,899
401,200
23,353
63,944
907,376
808,783
452
477
7,504
37,006
64,600
2,480
10,442
98,593
7,000
2,129
1,612
71,920
11.199
73,697
208,943
372,399
773,000
35,000
165,490
4,200
3,696
51,619
101,905
300,246
269,672
30,574
20,880
11,633
24.199
11,371
262
179,820
i 1,057,224
163,190
16,630
83,486
50,434
|
Wheeling A Lake Erie
864
174,607
111,000
8,000
30,855
3,319
,£46
973,738
212,212
31,064
24,782
6,282
80,957
603,610
125,260
147,066
67,164
525,393
110,698
88,685
13,793
78,217
262
i
56,981
848,515
10,393,022
i
14,562
58,381
8,877,969 1,527,713
1,515,053
12,660
For the first week of June our final statement covers 43
roads and shows 15.77% increase in the aggregate over the
same week last year.
Increase.
Decrease.
10,034,303
73,954
173,201
82,171
54,591
21,152
8,648,964 1,397,674
6,039
67,915
9,659
163,542
6,964
75,207
6,177
48,414
8,289
12,863
12,335
10,439,372!
9,016,905 1.434,802
1,422,467
12,335
1907.
of June.
Previously reported (38 roads).
Alabama Great Southern
Cine New Orl A Texas Pacific..
Detroit Toledo A Ironton
Gulf A Ship Island
Texas Central
Total (43 roads)
Net increase (15.77%)
1906.
retmns are
brought together here in the week in which we
monthly article on net earnings—say, about}he
20th of the month.
Roads.
$
Ala Gt South—Sec under Southern Ry.
Alabama Term A North.Mch
3,877
-Net Earnings—
revious
Year.
Current
Year.
J
$
%
System below.
3,830
2,311
2,241
17,825
24,440
19,889
July 1 to Mch 31
35,770
6,746,879 (13.204,475 d2,460,805
Atch Topeka A Sa Fe.b.Apr 8.429,356
July 1 to Apr 30
77,432,992 67,031,712d28,968,049d25.495,111
Atlanta Blrm A Atl.a.-Apr
101,934
148,758
38,749
27,212
July 1 to Apr 30
1,307,500
319,219
915,008
235,866
Atl & Chari Air Line.a-.Mch
379,921
116,295
378,279
73,123
Atlantic Coast Line.a
589,725
580,342
Apr 2,444,409 2,159,462
July 1 to Apr 30.
22,401,746 20,464,632 5,661,594 6,622,698
May 7,370,849
6,817,034 2,451,609 2,289,114
Baltimore & Ohio.b
July 1 to May 31
75,047,836 70,819,244 24,915,585 25,525,337
Bangor A Aroostook.b_.Apr ' 296,905
111,548
94,474
242,225
July 1 to Apr 30
2,674,917 2.066,989
900,147
789,010
Bellefonte Central.b
May
5,562
4,395
2,335
849
Jan 1 to May 31
24,964
22,568
4,044
6,348
3,271
298
Bridgeton A Saco Rlv.b Apr
3,439
630
July 1 to Apr 30
38,953
38,996
11,797
12,150
742,476
321,448
Buffalo Roch & Pltts.b.Apr
296,486
def6,874
July 1 to Apr 30
6.920.260 6,950,706 2,670,291 3,029,404
Buff & Susquehanna.a. Apr
168,127
97,908
40.227
20,715
July 1 to Apr 30
1,514,391
1.306,233
469,654
473,512
Canadian Northern
569,900
104,700
Apr
544,800
195,700
July 1 to April 30
5,659,400 4,340,900 1,427,000 1,485,800
Canadian Paclflc.a
Apr 6.391,561
5,491,000 2,366,926 2,342,559
July 1 to Apr 30
58,462,677 50,613,404 20,368,844 18,847,600
182.060
Central of Georgia.a
Apr
924,299
861,120
110,820
July 1 to Apr 30
.10,341,113 9,671,774
2,355,158 2,751,080
288,206
Central of New Jersey.b.Apr 2,335,095
1,306,867 1,088,516
July 1 to Apr 30
21,784,664 20,033,507 10,127,391 9,446,101
2,403
15,319
12,917
1,249
Chattanooga South.a
Mch
8,244
July 1 to Mch 31
102,213
121,745
863
741,211
Chesapeake & Ohlo.b..-Apr 2,209,621
743,825
2,005,871
July 1 to Apr 30
20,975,238 20,210,089 7,391,874 7,983,818
2,462
Chesterfield & Lane.b.-Mch
4,582
4,284
7,498
11,790
July 1 to Mch 31
40,128
29,376
17,501
185,834
Apr
Chicago A Alton _a
996,979
771,398
351,881
July 1 to Apr*30
10,773,188 9,852,416 3,704,981 2.976.866
137,544
785,020
Chicago Gt Western.b--Apr
687,689
194,652
July 1 to Apr 30
7,991,892 7,406,561 2,191,288 2,140,498
150,100
Chic Indlanap A Lou.a.Apr
492,054
164,493
512,698
July 1 to Apr 30
4,965,220 4,911,204 1,517,510 1,673,260
29,314
Chicago Term Trans.b.-Apr
149,335
135,922
52,118
490,907
July 1 to Apr 30
1,424,341 1,436,990
538,289
Cln N O A Tex Pac—See under Southern Ry System below.
20,438
Colorado MIdland.a
Apr
183,338
154,961
39 816
449,573
July 1 to Apr 30.
2,056,345 1,777,577
493,147
Mch
69.114
595,678
18,892
182,828
41,468
July 1 to Apr 30
403,529
Denver & Rio Grande.b.Apr 1,717,165
July 1 to Apr 30
17,495,666
Detroit A Maclnac.a
Apr
120.789
July 1 to Apr 30.
1.077.567
Dul So Shore & Atlan.b.Apr
276,577
July 1 to Apr 30
2,684,165
Erie .a
Apr 4,671,405
July 1 to Apr 30
44,134,214
Fairchild & Nor’e’n.b.Apr
1,674
July 1 to Apr 30
15,405
Fonda Johns A Glov.a.Apr
66,620
July 1 to Apr 30
643,463
Georgia RR.a
Apr
224,480
July 1 to Apr 30
2,573,716
Grand Trunk Syst of Can—
Grand Trunk Ry
Apr 2,961,751
July 1 to Apr 30
27,720,068
Grand Trunk West’n..Apr
518,282
July 1 to Apr 30
5,038,393
Detroit Gr Hav A Mil.Apr
134,315
1,520,259
July 1 to Apr 30
Canada Atlantic
133,829
Apr
July 1 to Apr 30
1,625.181
Gulf A Ship Island.a-.Apr
231,510
July 1 to Apr 30
2,068,369
Hocking Valley.a
Apr
613,233
July 1 to Apr 30j
5,563,460
Illinois Central.a
Apr 4,741,286
July 1 to Apr 30
46,865,634
599,874
.Apr
5,932,878
247,306
Iowa
.Apr
.
-
-
-
-
May
Lehigh Valley.b
July 1 to Apr 30
to
Mexican
Apr
May
Central
1,556,181
16,201,180
103,869
944,970
237,551
2,511,791
3,517,262
665,223
6,561,088
1,944
48,265
18.229
201,373
7,981
87.334
8,162
203,980
543,808
6,243,250
20,727
190,697
73,297
800,188
defl7.397
154,899
1,451,024
891,822
65,227
822,695
41,398,166 12,224.530 11,601,786
1,328
def 839
362
19,278
def2,916
5,262
50,621
35,057
308,482
21,458
276,713
4,396
472,492
711,828
587,286
237,046
2,420,212
51,953
2,532,039
955,294
895,436
25,211,387
7,673,496
7,073,457
57,911
4,512,169
718,344
57,911
730,081
126,529
1,349,597
17,033
336,192
38,446
378,921
133,342
1,584,430
def7,300
105,798
186,567
1,752,542
385,145
5,439 465
4,233,912
75,946
514,207
197,621
1,662,432
11,193
333,376
53,619
563,279
1,943,420
1,203,334
1,091,031
387,373
76,673
43,077,045 13,603,252 13,155,678
350,205
3,261,182
555.772
5,192.703
229,786
2.487,060
180,774
1,512,734
7i52,476
/1649.613
22,943
457,557
248,112
1 ,771,068
1,817,144 ol,222,449
0314,844
29,500,445 27,198,658011,286,351010.167.048
May 31.
Maryland & Penn .a
July 1 to Apr 30
26,980
373,031
765,652
7,090,909
57,599
474,185
.Apr
43,694
430,478
Inc 99,860
Inc 813,623
....
1
15 032
170,173
17,865
207,500
8,840
85,310
19,532
206,665
866,467
8,414,454
120,264
July 1 to Apr 30
983,910
Louisville A Nashville.b.Apr 4,044,081
July 1 to Apr 30
40,172,613
Manistee A Northe’n.b.Mch
44,654
136,482
Jan 1 to Mch 31
Jan
56,651
505,373
39,867
219,424
2,931,626
Apr 3,069,581
Lexington A Eastern. b_Apr
July 1 to Apr 30
Manlstlque.b
21,989
246,351
305,255
3,232,551
defl ,765
153,001
1,783,237
219,139
.Apr
1 to Apr 30..
3
882,777
9,728,796
-Net EarningsPrevious
Current
Year.
Year.
3
3
1,931,752
2,641.599
July
Previous
Year.
172,372
1,547.580
£68,705
71819,431
50,375
425,103
Louisiana & Arkansas.a. Apr
publish
-Gross Earn'gsCurrent
Previous
Year.
Year.
July 1 to Apr 30
11.153,687
Colum Newb A Lau.a.-Apr
26,375
July 1 to Apr 30
270,912
Long Island.b
July 1 to Apr 30
Net Earnings Monthly to Latest Dates.—The following
shows the gross and net earnings to latest dates of all STEAM
railroads furnishing monthly statements.
The compilation
includes every road from which we can get a return of this
character, and in that form is given once a month. Early
.returns are published from week to week, as soon as issued,
but for the convenience of our readers all the roads making
our
Apr 1,054,099
-
31,300
Eam’gs-
$
Roads.
Colorado Southern .a
Cornwall.a
Apr
July 1 to Apr 30
Cornwall A Lebanon.b--Apr
343,000
15,399
77,393
260,562
474,304
884,000
27,000
196,345
J
Total (38 roads)
Net Increase (17.06%)
108,379
85,400
121,000
128,692
i
!
Decrease.
-Gross
Current
Year.
Copper Range.a.
July 1 to Mch 31.
128,000
130,821
58,593
920,435
173,743
j
Hidalgo & Northeastern
Rio Grande Southern
St Louis Southwestern
Southern Railway
Texas & Pacific
Toledo Peoria & Western
Toledo St Louis A Western
Wabash
Western Maryland
1907.
222,990
224,300
1,542,000
214,400
3,245
169,164
117,622
258,905
465,800
25,833
74,386
Minneapolis A St Louis
Minneapolis St Paul & S S M
First week
1481
THE CHRONICLE
j
7.795
26,218
34,217
297,627
Apr 2,920,991
19,732
184,529
Inc
15,666
Inc 188,599
22.332
193,940
96,416
47,046
25,914
851,156
294,434
309,009
3 542.044
1,008,947
908.500
35,519,604 10,788,943 10,301,030
44,060
133,406
13,693
36,669
31,765
301.773
2,500,372
15,228
59,621
21,398
65,876
def 290
6,068
10,207
11,346
103,843
def2,486
13,618
101,138
1,016,435
7,679,511
312,950
2,285,331
11,728
134,835
893,239
7,123,433
25,496,125 23,315,445
294 648
Mexican International. .Apr
846,021
672,857
2,630,221
July 1 to Apr 30
6,912,785 5,926.203
16,480
56,217
Mineral Range.b
Apr
65,719
137,180
619,458
July 1 to Apr 30
644,906
£58,165
£57,169
281,447
Minneap & St Louls.a.Apr
317,538
July 1 to Apr 30
3,195,439 3,095,331 £1,075,191 £1,196,442
July
1 to Apr 30
M.b-.-Apr 1,236,428
10,446,447
July 1 to Apr 30
Missouri Kansas ATex.a.Apr 2,026,892
July 1 to Apr 30
21,798,951
Minn St PASS
959,702
9,621,496
1,540,636
483,712
419,668
4,454,367
4,983,473
326,044
4,818,863
1,113,653
430,172
17,851.919 7,186,646
Mo Pacific System.b...Apr 4,166,445
3,541,241 1,509,688
40,457,074 37,134,851 13,354,770 11,849,383
July 1 to April 31
Nashv Chatt A St L.b.-Apr 1,130,479
964,619
209,079
220,499
July 1 to Apr 30.
10,002,364 8.997.262 2,071
2,071 884
884 2,235,875
516,005
National RR of Mexico..Apr 1,484,497
1,184,849
516,005
468,758
July 1 to Apr 30
12,885,548 11,386,673 4,647.861
4,647.861 4,357,559
18,762
Hidalgo A Nor’e’n.-.Apr
79,575
220,146
July 1 to Apr 30
825.977
17,355
8,701
186,740
120,963
8,596
82,827
9,664
Apr
9,959
46,582
66,639
July 1 to April 30
343,017
707,503
N Y Ontario A West.a-.Apr
July 1 to Apr 30
6,781,045 6.008.174
185,500
N Y Susq A Western.a.Apr
276,118
July 1 to Apr 30
2,552,510 2,301,886
2,408,442
Norfolk A Western.b.. .Apr 2,681,219
July 1 to Apr 30
25,542,391 23,452,513
Northern Central.b
Apr 1,101,102
722,602
Jan 1 to Apr 30
4,008,727 3,473,627
Pennsylvania—Lines directly operated—
East of Pitts A Erie..Aprl3,370,388 10,249,188
Jan 1 to Apr 30
50.573,929 45,607,029
West of Pitts A Erle-.Apr
100 1,297,400
Jan 1 to Apr 30.
Inc 2,632,100
Phlla Balto A Wash.b-.Apr 1,435.773
1,235,473
Jan 1 to Apr 30.
5,211,236 4,784,536
Philadelphia A Erie.b..Feb
559,663
543,723
Jan 1 to Feb 28
1,225,459
1,175,358
Pitts Cln Chic A St L.a.-Apr 2,747,674
2,267,892
Jan 1 to Apr 30.
10,317,296 9,301,521
Raleigh A Southport .a-Mch
10,624
6,648
July 1 to Mch 31
72,904
46,227
Raquette Lake.b—
Jan 1 to Mch 31
8,439
5,347
July 1 to Mch 31
21,732
37,098
Reading Railway Co—
2,461,844
Phlla A Reading.b...Apr 3,998.069
July 1 to Apr 30
35,541,645 33.670,065
5,658
24,502
25,599
200,922
2,147,995
def.29,710
1,595,051
62,192
713,420
55,297
682,976
902,640
9,441,195
235,554
536,762
930,261
9,463.157
125,654
584,762
3,384,156
2,973,856
Nev Calif A Ore.a
Apr
19,320
216,747
July 1 to Apr 30
Nevada Central.b
Coal A Iron Cob
July 1 to Apr 30
Total both oos.b
July 1 to Apr 30
Reading Company
July 1 to Apr 30
Total all cos
July 1 to Apr 30
1,074,565
32,010,458 27,995,517
Apr 8,119,448
3,536,409
67,552,103 61,665,582
Apr 4,121,379
Apr
_•
Apr
6.951
11,469,373 12,026,073
Inc 170,100
Inc 293,800
3,158
18,960
309,024
968,538
36,721
126,003
551,124
1,991,945
3,684
18,323
2,218
8,928
2,746
8,119
1,563,304
495,506
276,324
706,438
79,856
162,909
603.257
2,166,902
13,028,431 12,933,972
220,227 df,287.293
1,690,579 1,552,577
1,783,531
208,213
14,719,010 14,486,549
129,375
143,133
1,300,574 1,271,387
1,912,906
351,343
16,019,584 15,757,933
Gross Eorn'gs
Previous
Current
Year.
Year.
Roads.
$
$
Richmond Freds & Pot .Apr
197,126
July 1 to April 30
1,563,349
Rio Grande Junction
Mch
57,198
Dec 1 to Mch 31
255,266
Net Earnings
Current
Year.
Previous
Year.
$
$
166,038
1,377,229
82,916
478,055
66,971
478,922
48,300
196,825
nl7,159
n76,379
«14,490
n59.047
42,585
10,723
45,790
17,051
470.730
192,551
205,512
508,542
Rock Island System.a-Apr 5,030,048
3,800,204
1,115,193
782,236
July 1 to Apr 30
49,759,439 43,135,736 15,133,842 12,520,390
St Louis & San Fran.a Apr 4,340,007
1,352,840
843,442
3.147,838
July 1 to Apr 30
41.503,098 35,444,736 14,019,549 11,692.477
Evansv & Ter Hautea Apr
190.512
159,705
83,335
64,314
July 1 to Apr 30
1,909,635
1,816,461
872,115
814,681
Total of all Lines.a-_-Apr 9,560.568
7,107.747 2,551,369 1.689,993
July 1 to Apr 30
93,172,174 80,396,934 30,025,507 25,027,549
St Jos & Gr Island.b
136,325
Apr
123,441
40,432
28,389
July 1 to Apr 30
1,443,119 1,283,401
566,137
409.031
St Louis Southwestern.b.Apr
837,991
715,693
210,292
131,590
July 1 to Apr 30
1,899,944
8,813,469 7,495,746 2.797,983
Seaboard Air Line.b
Mch 1,615,557
1,452,601
396,828
434,327
July 1 to Mch 31
3,630.652
12,206,059 11,323,134
2,579,671
Southern Indiana.b
52,485
31,846
Apr
140,014
97,364
July 1 to Apr 30
1,369,378
1,202,028
572,475
464,512
Southern Pacific.a
2,876,780
AprlO.334,295
8.662,723 c2.877.053
July 1 to Apr 30
102,748,811 87,423,626 35,976,880 29,467.719
July 1 to Apr 30
Southern Railway system—
Southern Railway .a.-Apr 4,768,457
July 1 to Apr 30
47,222.709
Mobile & Ohio.a
Apr
976,360
July 1 to Apr 30
8,889,845
Cine N O & Tex Pac.a Apr
749.322
July 1 to Apr 30
7,046,978
Ala Gt South< rn.a ...Apr
355,063
July 1 to Apr 30
3,404,787
Georgia Sou & Fla. .a.Apr
189,423
July 1 to Apr 30
1,895,851
May
96,114
July 1 to May 31
1,149,07)
Tidewater & Western_b.Apr
8,469
July 1 to April 30
74,613
Toledo & Ohio Central.a.Apr
408,169
July 1 to Apr 30
3,996,832
Tol Peoria & Western. b. May
112.776
July 1 to May 31.
1,168,038
St L & Western .a
July 1 to Apr 30..
Toled
)
Tomblgbee Valley Co
Apr
335.390
3,435,730
Mch
6,502
4.356,062
44,816,191
797,952
7,762,363
707,458
6,945,195
305,223
3,141,594
157,786
1,613.810
65,276
885.070
.6,715
71,083
205.041
3,494,073
94.293
718,202
592.980
9,912,155 12,120,777
253,219
203,861
2,789,884
160,049
1,340,651
60,600
630.164
25,617
'
348,545
—Int., Rentals, &c.—
Previous
Current
Year.
Year.
$
$
Roads.
Rio Grande Southern, b. Apr
Texas Central.a
fVoi,.
THE CHRONICLE
14-2
2,523,727
188.830
1,662.476
54.264
609,971
19.493
380,792
25,147
355,952
1,205
15,420
def.29,627
893,578
4,950
1,192,438
28,882
412,923
2,732
8,891
132,488
1,222,458
21.050
246.631
335.773
3,502,324
4,596
pl3t,890
p976,165
1,698
p96,087
235,925
p854,305
1,691
Nov 1 to Mch 31
28,671
8,490
22,193
8,888
Apr 6,287,988
5,339,805 2,261,323 2,141,882
62,518.034 56,107,330 28,004,663 25,,37.786
Virginia & Southw.b
May
96,463
95,316
33,031
31.831
July 1 to May 31
963.524
920,774
306,639
369,382
Wabash.b
1,899,408
Apr 2,216,289
588,960
473,178
July 1 to Apr 30
6,596.216
5,664,762
22,657,601 20,675,171
West Jersey & Sea Sh.b. Apr
129,7.74
389,114
398.114
10,854
Jan 1 to Apr 30
1,268,2 78 defl68,140
1,340,278
234.360
Western Maryland.a
Apr
525,479
t/201,178
430,999
1/183,157
July 1 to Apr 30
4,550,459 3,874,137 1/1.458,587 2/1 ,314,939
Wheeling & Lake File.b.Apr
543,671
347,949
187.284
112,244
July l to Apr 30
1,681,7/5
5,019.438 4,557,789
1,334, <39
Wisconsin Central.b
Apr
667,042
584.637
256,643
210.277
July 1 to Apr 30
6,189,622
5,904,298
2,253,909
2,121 518
Wrlghtsv & Tennille. b. .Apr S17.039
S14.862
4.448
3,119
July 1 to Apr 30
S196.122
S179.197
57,19 )
66,375
Yazoo & Miss Valley_a..Apr
768,386
751,654 '
78,188
136,505
July 1 to Apr 30
8,061,839
7,226,124
1,297,645
1,029,962
Kanawha & Michigan... .Apr
July 1 to Apr 30.
20,504
214,756
Manistee & Northeast...Mch
Jan 1 to Mch 31
20,597
_
—
11,821
106,741
Missouri Kansas & Texas.Apr
427,121
4,155,302
July 1 to Apr 30
Nashv Chatt & St Louis .Apr
149,018
1,493.467
July 1 to April 30..
Nevada Cal & Oregon... .Apr
3,302
32,477
July 1 to April 30
N Y Ontario & Western .Apr
77,354
746,755
July 1 to Apr 30.
401 207
Norfolk & Western
.Apr
3,879,955
July 1 to April 30..
353 207
3.414,376
Raquette Lake—
Jan 1 to Mch 31
—
Mch
Rio Grande Junction
Dec 1 to Mch 31
3,633
10,919
3,824
11,493
890,500
.Apr
8,903,000
—
July 1 to Mch 31
Reading Company
July 1 to Apr 30
Rio Grande .Southern... .Apr
1 to Apr 30
Toledo Peoria & West’n
July 1 to May 31
In 1903
1908.
1 i 1906,
in 1906
.
Deductions from total income for additions and improvements
$167,205 in April 1907, against $65,726 in 1906, and from July 1 to
30 were SI ,666,934 iu 1907, against $1,099,6 74 la t yea ’.
For Apr. 1907 additional Income wa; $1,221, a ra n t $518’ and from
July 1 to Apr. 30 was $26,861 in 1907. against $1 7,826 la t year.
s Includes $454 other Ineome for April 1907, against $111 in 1906, and
from July 1 to April 30, $4,514 In 1907, against $4,704 last year.
V
Miscellaneous
—B il. of Net F'nos.—
Previous
Current
Year.
Year.
Year.
$
$
$'
Bangor & Aroostook
July 1 to Apr 30
Apr
67.464
659,385
59.866
542,542
44.084
240,762
34,608
246.468
Bellcfonte Central
Jan 1 to May 31
May
303
1,515
300
2.032
549
Bridgeton & Saco River.Apr
543
Jail 1 to Apr 30
5,430
•Central of New Jersey ..Apr
849,412
July 1 to Apr 30
6,486,490
Chicago Great Western..Apr
182,540
July 1 to April 30
1,778,683
8.438
Copper Range.
Mch
July 1 to Mch 31
75,937
Cornwall & Lebanon
Apr
3,482
July 1 to Apr 31.
37,047
Denver & Rio Grande
Apr
344,134
July 1 to April 30...
3.527,299
...
Dul So Shore & Atlantic.Apr
July 1 to Apr 30
85,641
858,416
1 .500
4,833
2,5 44
543
S7
def 245
5,430
6.367
6,720
5239. 104 0df262,380
550,586
6,097,834 03,649.991 03,348,267
173,087
1,713,156
8,438
75.937
4.075
41,561
12,112
412,605
9.427
131,563
16,050
X76
2)24,720
21,437
19,453
360,421
X34.563
6,952
23,437
254.035
26,298
384,508
198.820
X131.100
£050,571.
22,563
327,537
2)95,757 2)def.67,863
2-860,270
X511,829
def 3,030
def 19,212
defl8 ,487
defl8.H0
Companies.
$
Co np inles.
Buffalo Gas Co
Oct 1 to Apr
486,149
1.926,700
Apr
Cuyahoga Teleph Co
Apr
Edison ElIllCo(Brock’n)aApr
Jan 1 to Apr 30
Fall River Gas Works .a-Apr
Jan 1 to Apr 30
+
Houghton Co El Lt Co.a.Apr
Jan 1 to April 30
—
.
1 to Apr 30.
July
Lowell Elect Lt Corp.a.Apr
Jan 1 to April 30
Apr
July 1 to April 30
Pittsburgh Coal Co
Jan
1
to
def35.543
427,342
9,791
125.436
4,087
162,419
169,618
d208 064
<1324,690
3.457.964 <13.276,558 <13,031,032
95,942 xdef 12.221 xdef.29.781
932,693 xdef49,838xdefl82,823
444.194
1 ,746.028
33,047
23,680
64,335
57,014
12,939
55,842
27,916
123.818
22,837
108,935
19,241
88,593
17,237
80,806
87,4 >9
819,890
70,851
675,634
24,728
21,390
94,592
5,510
25,420
10.427
44,880
30,914
302,765
Telephone Co
1 to Apr 30
Apr
6,486
35,935
34.124
270,939
143,993
29,937
142,163
631,705
6,015,592
479,460
5,362,014
116,233
1,218,823
87,201
1,174,009
497,403
1,522,833
372,935
1,398,427
13,329
70,178
30,097
114,126
-
May
8,593
43,626
217,890
Apr
Taco ua Gas Lt Co.a
June l to May 31
6.491
39,055
62,137
—
Pocahontas Collieries
Jan 1 to Apr 30
2,981
16,445
71,705
308,531
Apr
Apr 30.
167.980
678,318
43,070
9,691
46,829
386.497
7,186
38,512
367,772
...
$
20,800
224,700
14,381
63,308
103.647
Mexican Lt & Pow Co. .Apr
Apr
Pacific Coast
$
23,831
218,200
190.086
74S.461
30
Cum Tel & Tel Co b
Jan 1 to Apr 30
Net Earnings
Current
Previous
Year.
Year.
6
Apr
19,704
-
156.016
8,459
114,254
13,957
77,813
3,363
44,037
34,927
162.115
34,014
152,527
22,715
90,490
22,136
84,208
Mch
243,994
1,907,711
July 1 to Mch 31— •
Wilkes-Barre Gas & ' dee Co —
Jan 1 to Mch 31
101,005
201.488
1,577,477
53,621
44 5,12)
51,864
35 ),776
88,084
55,090
41,633
Jan
Victor Fuel Co
_
.
Net earnings here given a: e after d" luctlng taxe s.
b Net earnings here given a*'e before deducting taxes.
g These results are In Mexican currency.
a
Interest
Charges and Surplus.
—Inf.. Rentals. &r.—Previous
Current
Year.
Interest Charges and Surplus.—The follow ng roa:ls, in
addition to th-nr g oss and not cam ngs g v >n .n th 1 fo.vgo ng,
also report charg s .or into res , etc , \v,ih tli - s lrpLis above
or deficit below tin’s ‘ charges:
Roads.
ardef.5.744
Gross Earn'gs
Current
Previous
Year.
Year.
V For April additional income and net profits fro n coal,
&c.. were
$72,583 this year, against $87,637 last yea*, aud from July 1 to April 39
were $562,893 tills year, against $722,854 last year.
<t(\ —
Previous
17,733
179,347
Charges here Include road rental (paid by lessee) and other deductions
expenditures for renewals, additions and
Improvements amounting to $152,542 for April, against $89,791 In 1996,
and to $1,014.939 from July 1 to Ap *11 3.9 1907, against $1,411,773 last year.
d These figures are after allowing for other income and for discount and
The sum of $10,000 Is deducted every month from surplus and
exchange.
placed to the credit of the renewal fund,
x After allowing for other Income received.
U S
1906.
Current
Year.
$
6,157
25,714
a
com
panies) for April is $1,274,762 in 1907, against $337,274 in 1906, and for
period from July 1 to Apr. 30 is $12,088,435 in 199/. a rabid $10.5/9,564
—Int.. Rentals
8,826
43,246
38,276
265,843
—
Xdef.685
xdef 2,144
1,022,406 def.516,535
7,114,584
7,079,121
386,377
24,080
May
—
2)def.1,812
2,584
28,415
36,855
369,260
—
2)def.l .359
304,919
2)36,062
2,698,858 xdf.348,507
—
14,632
45,578
4,513
3,051 def.55,865
3,051,344 1,084,547
60,061
71,999
578,417
742,869
2)6,486
X6.062
2)101,572
X39.004
123,568 def.98,809
1,401,240
889,156
591.433
577,054
6.048,781
5,561,24J
210,211
.
July
$
6,635
52,097
56,509
xdef.21 xdef.18,665
2)28,897
xl2,340
8,333
33,333
July 1 to Apr 30..
St Jo &, Gr Island
20,979
.Apr
205.716
July 1 to Apr 30..
.Mch
Seaboard Air Line
340,986
2,940,904
July 1 to Mch 31..
Texas Central
2,584
May
28,415
July 1 to May 31
Toledo & Ohio Central.. .Apr
8.362
39.024
867,881
8,678,815
8,333
33,333
17.533
177,310
_
Minn Gen Elec Co.a
Jan 1 to Apr 30
were
25,727
69.099
705.895
_
g
Apr.
381,909
—
d The company now Includes earnings of the Denver Enid & Gulf RR.,
Pecos Valley system and Santa Fe Prescott & Phoenix Ry. In b >th years.
For April taxes and rentals amounted to$237,126. against 3195.903 In 1906
after deducting which, net for Apr. 1907 wa: $2,967,349 against $2,264,902
last year.
From July 1 to Mch 31 1907 taxes and rentals were $2,110,199
against $1,996,982 last year
in
6,766
20,298
6,833
47,334
33,292
126,812
3,734,316
148,500
1,493,006
2,697
—
and Increase in wage schedules.
Including other income, total Ineome (exclusive of results of coa!
6V983
49,041
Maryland & Penn
-Apr
July 1 to Apr 30
Mineral Range
July 1 to *\pr 30..
Keystone Teleph Co.a.-Apr
o
6,866
__
Net earnings here given arc after deducting taxes,
b Net earnings here given arc before deducting taxes.
c The heavy Increase in expenses In' 1907 Is ascribed to hte continued c-m•gestion of traffic caused by storms and washouts; also higher price of fuel
a
ineome was $3,017, again-t $7,316
$48,577 In 1907, arainst $4 ),898 In
k For Apr. 1907 additional Income was $17,644, arainst $17,486
and from July 1 to Apr. 30 wa; $194,018 in 1907, against $155,349
n These figures represent 30% of gross earnings.
73 223
647,994
_
Year.
b Included In fixed charges are
Union Pacific.a
July 1 to xMay 31
h
For Apr. 1907 additional
aud from July 1 to Apr..30 wa;
a516,221
_
—Bal. of Net E'ngs.—
Previous
Current
Year.
$
xl ,181
a50.787 xdef.46,378
a317,147 xdef.36,589
X209.657
X20.427
64.077
x\24,398
653,999 xl .2 54,711 Xl,496.008
2)30,466
X4.341
19,420
2)215,662
199,219
X264.523
<151.226
Georgia RR
.Apr
July 1 to Apr 30.
Hocking Valley—.
-Apr
July 1 to April 30.
LXXXIV.
Co -n
parties
Cuyahoga Telephone Co.Apr
Edison lIHCo(Broek’ii) Apr
Jan 1 to Apr 30
Fall River Gas Works.
Jan 1 to Apr 30
Houghton Co El Lt.
Jan 1 to Apr 30
.Apr
.
.
_
Apr
..
Lowell Elect Lt
Corp
Apr
Jan 1 to Apr 30..
g Mexican Lt & Pow Co .Apr
Minn Gen ’dec Co
.Apr
„
Jan
1
Apr 30
Pittsburgh Coal Co.
Jan 1 to Apr 3<>
to
Apr
Pocahontas Collieries.. .Apr
.lan 1 to April 30
_
U S
Telephone Co
—Apr
1 to Apr 30
Jan
Victor Fuel Co
July 1 to Mch 31
341.637
S
$
Cumberland Tel & Tel Co.Apr
Jan 1 to Apr 30
.Mch
12 5,742
17,052
14,610
787
72!)
2.916
4.723
22 52:)
1
573
687
2.634
2,812
10,000
2.812
6,879
10,000
36,829
5,781
33,626
1 .109
4,513
1.242
3,958
6,077
33,999
5,244
31,977
173
0,2 ,2
42.497
150,000
20.326
67,815
234,373
932,473
f 16,675
/66,919
13,614
54,809
20,767
169.188
After
137,868
551.576
6,628
2 252
13,529
5.804
36,42!
67,890
13.798
8.908 ■
35,916
255,873
998,664
/16.497
/66,604"
12,743
51,811
20,482
166,073
76,178
263,030
590,360
def3,346
3,259
9,101
35,699
X42.569
X349.848
/ Includes sinking fu~nd and preferred stock dividend.
0 These results are In Mexican currency.
x
$
137,297
18,437
2,891
30,112
$
151,773
591,164
38,313
,
Year.
—Bal. of Net E'ngs.—
Current
cvlous
Year.
Year.
allowing for other Income received.
■
21,029
106,247
117,062
399,763
13.600
47,522
9,393
32,397
X43.590
X270.868
1483
THE CHRONICLE
June 22 1907. J
STREET RAILWAYS AND TRACTION COMPANIES.
Jan.
Latest Gross Earnings.
Name of
Road.
Week or
Month.
Current
Year.
Year.
Year.
Year.
116,415
20,240
_
184,636
7,815
16,880
64,030
.
61,399
89,282
72.558
19.470
66,993
_
87,324
__
$
225,686
102,533
22,011
155,947
7,248
18,378
57,357
52,879
69,813
71,520
18,202
54,219
78,327
895
170,167
15,989
178,988
37,966
•Georgia Ry & Electric April
Havana electric Ry. Wk June 16
Honolulu Rapid Tr &
Land Co
April
Houghton Co St Ry.. April
Houston Electric Co. April
May
March
29,662
28.057
19,387
53,541
293,875
17,966
40,852
11 ,500
78,000
234,705
300,688
52,143
74,590
124,857
44,553
482.128
132,844
187 097
.
..
-
146,016
19.012
12.4.24
..
134,510
Puget Sound Elec Ry April
$
1 .102,983
494.799
85.886
721,765
26,324
67,372
281,284
280,670
337,517
358,348
71,543
270,721
87,324
5112,691
2,465,698
345,789
814,750
152,106
47,173
229,497
10,191
26,226
435,908
40,049
8.865
72,500
211 ,939
270,479
46,614
65,015
109,572
41,951
490,578
1 17,366
128,605
126,710
11 ,280
11,023
105.133
$
1.004.100
430,472
83,413
592.1 11
24,210
73.122
254,748
259,181
247,317
354,351
63,440
230,219
78.327
2,175,562
319,683
733,138
116.973
360,958
102,317
311.631
795,273
698,723
118,654
70,951
204,138
1,399,198
30,542
125,853
1,853,660
111,245
61,725
173,846
1,122,882
79,543
22,618
235,372
30,082
29,914
472,666
April
April
April
April
156,867
15,715
159,183
31,449
93,940
26,267
263,862
33,955
11.115
..
date.
Previous
$
249.155
Manila EleeR&LCorp March
Met West Side
lev.. M ay
Mllw i lee Ry & Lt Co April
Mllw Lt Ht Sc Trac Co April
Montreal Street Ry.. Wk June 15
Nashville Ry Sc L ght April
N J & HR Ry&Fy Co May
N O Ry Sc Light Co._ April
Nor Ohio Trac & Lt.
April
Norf & Portsm Tr Co April
Northwestern Kiev.. May
March
Oklahoma City Ry
Peeksklli Light & RR May
latest
Current
American Rys Co
Illinois Traction Co..
Jackson Consol Trac.
Jacksonville Elec Co.
Kan City Ry Sc Light
Lex Sc Inter Rys Co..
Madison Sc Int i'rac..
to
Previous
May
•cAur Elgin & Chic Ry May
April
Binghamton Ry
Blrm Ry Lt Sc Power April
Brockton & Ply St Ry April
Cape Breton Elec Co_ April
Central Penn Trac— May
Chari Con Ry Gas& El May
Chicago & Mllw r. lec_ May
dPhlcapo & Oak Park May
Cleve Palnesvllle & E April
Cleve Southw & Col.
May
Dalla- ElecCorp’n— January
Detroit Jack’n & Chic 4th wkMav
/ Detroit United Ry. 4th wkMay
2d wk June
Duluth Street Ry
East St Louis & Sub. May
El Paso Electric
April
Ft Wayne & Wabash
Valley Traction — April
Galveston Electric Co April
er
1
157.572
45,676
229,000
1 .158.017
1,188,369
208,423
1,509,455
484,144
160,555
2,077,841
508.727
629,014
79,576
28,991
98,949
1,657,619
137,557
35,552
220,880
1 ,023,180
1,075,038
177,051
1,320,168
423,504
144,671
1,981,909
451 .973
495 378
59,311
627,932
29,553
50,757
1,883,902
76,814
67,981
680,888
47,924
Rio de Janeiro Tram
Light Sc Power
April
Rockford Sc Interurb February
St
487.965
.
Joseph (Mo) Ry Lt
Heat Sc Power Co.. May
Sao Paulo Tr Lt & P March
Savannah e.lectrlc Co April
South Side ‘ levated
May
..
February
April
a
.
Wk J une 15
1st wkJune
United RR of S F
February
United Rys of St L__ May
Whatcom Co Ry Sc Lt April
Figures for the month In
Ry.. acquired Jan. 1 1U<>6.
_
32.685
67,896
68,001
164,754
49,872
183,713
46,913
170.314
102,889
42,383
Syracuse Rap Tr Ry. May
Tampa
lectricCo.. April
Terre Haute T Sc L Co
Toledo Rys Sc Light.
Toronto Railway
Twin City Rapid Tran
37,365
New River
Company.
(Report for Period Ending Dec. 31,1906.)
first report of the directors of this holding company,
The
which owns all of the stock of the New ltiver Fuel Co., for
the eighteen months since its organization on July 1 1905
is given at length on pages 1191 to 1494.
The report shows
the earnings of the New River Fuel Co. and gives a balance
It also contains a
sheet of the latter as of Dec. 31 1906.
description of the properties owned and discusses the plans
facts in regard to
River Co.—V. 84,
p. 935, 576.
United Shoe Machinery Corporation.
{Report for Fiscal Year ending March 1 1907.)
President Sidney W. Winslow is quoted as saying:
for their future development as well as
the origin and management of the New
Additions.—During the year the addition of 60 % to the factory at Beverly
has been
141 ,282
87,573
36,937
69,081
54,902
164,473
156.396
65,572
122,138
*509,504
947,337
27,737
56,794
110,376
320.396
145,552
660,810
1 14,733
502,798
192,611
709,225
425,578
Legislation.—The so-called “Shoe Machinery BUI” recently enacted In
Massachusetts, if it shall be held by the courts to be
616,543
4,050,558
85.064
5 1»(>6.
■
Street Railway Net Earnings.—The following table gives
the returns of STREET railway gross and net ea’nings
f
A full detailed statement, including all
monthly returns can be obtained, is given
the latest statement of
of June 1 1907. The
this kind will be found in the iss te
in the iss ie of June 29
Roads.
Aurora Flgln & Chic Ry..May
July 1 to May 31
•Charleston Cons Ry Co. May
Meh 1 to May 31
_
1907.
-Gross Earn'gsPrevious
Current
Year.
Year.
$
$
116,415
1,196,047
61,399
172,858
89,282
_
Chic & Mllw t lec
May
Jan 1 to May 31..
.
102,533
1,062,666
52,879
154,875
544,221
69,813
247,317
477,317
23,761
63,000
20,230
58.875
56,023
176,989
43,368
130.779
28,174
105,805
24,017
88,837
•Cleve Southw *5c Col
May
Jan 1 to May 31..
East St L & Suburban.. May
Jail 1 to May 31
178,988
814,750
733,138
83,453
365,552
357,270
El Paso l icet Cos a
-Apr
Jan 1 to Apr 30.-.
37,966
152,106
31,449
116,973
6,663
30,165
11,35/
38,41 I
Illinois Traction Co.a.. May
Jan 1 to May 31
293,875
229,497
1 ,309,198
1 ,122,882
Peek skill Lt <fc RR
May
Jan 1 to May 31..
12,424
59,311
11.023
50,757
125,120
600,424
4,863
23,587
Savannah ' Ice Co .a
-Apr
Jan 1 to Apr 30..
46,913
183,469
49,872
192,611
16,161
62,783
19,890
.Apr
May
42,383
36,937
9,930
18,239
947,337
4,326,422
911.673
4,050,558
325,289
353,169
1.398,740
1 ,484,010
...
.
Tampa Flee Co.a.
United Rys of St L.a
Jan 1 to May 31
..
Net earnings here given are
b Net earnings here given are
a
Interest
54,219
230,219
159.183
Ronds
Aurora Elgin & Chicago. .May
July 1 to May 31
•Charleston C.ons Ry Co. May
Meh 1 to May 31
El Paso 1 lec Cos
Jan 1 to Apr
Apr
Savannah Licet Co
Jan 1 to Apr 30.
Apr
Tampa Elect Co
United Rys of St L
Jan 1 to May 31.
.
x
After allowing for
Apr
_.—
99,440
481,836
4,798
21,838
70,679
Current
Year.
S
26.4 1 4
291 .311
Previous
Year.
S
24,939
269,079
13,516
40,5*0
4,815
11,828
46,625
766
230,831
May
1,155,458
UNITED SHOE MACHINERY CORPORATION OF
MASSACHUSETTS, MARCH 1.
1907.
1906.
1
1907.
1906.
Resources—
$
Liabilities—
if
$
|
S
Cash
1.203,425
531,6501 Common stock
.17,857,687 16,248,637
Accts. receivable..
1,018
9,344,725 9,286,700
9,2891Preferred stock
Stork In other cor| Accounts payable
450,000
5.195,730
po rations
31,193,701 25,940,048 |iSurplus
501,650
208,238
10,245
22,450
7,263
19,974
3,808
15,087
1 .848
11,653
7,549
23,329
10,977
43,689
Nil
4,333
16,158
8,913
26,990
1,159,068
other income received.
—Bat. of Net E’ngs.—
Current
Previous
Year.
Year.
S
$
21 ,864
28,129
252,910
.842
SHEET
OF
32,398,142
Total
.20,486.9871
BALANCE SHEET OF UNITED SHOE
Total
.•
32,398,142 26,486,987
MACHINERY CO. OF NEW JERSEY
..
THE OPERATING COMPANY, MARCH 1.
1906.
1907.
|
1907.
1906.
Assels—
$
$
j Liabilities—
$
$
R al estate
1,715,793
1.717,2391Capital stoek
20.772.894 20,772,894
Machinery
431,601
2,095,919 2,054,721 j Accounts payable.
374,237
.Stock In process.. 4,995,473
3.152,273 j Surplus
..11,126,350 8,774,606
Cash <fc debts rcc’le 5,602,680
5,630,705(Machinery reserve
222,218
222,218
Pa ent rights
400,000
400,0001Insurance
12,984
S3
Leased mach’y.stk.
*bds .of oth.eos 17.580,617 17.087.9471
175,564
Miscellaneous
101,0691
32,566.047 30.143,9551
Total
Total
The “Boston News Bureau” furnishes the
32,560,047 30,143,955
following, show¬
an increase of n a:ly 70% in the numb t of machines out
lease during the pas: three years^ or s'nc - the completion
of the company’s n w plant at Beverly, Mass.
ing
on
March 1 1907
March 1 1906
On .March 1
MACHINES LE \SED.
.57,7771 March 1 1905
48,9001 March 1 1904
1901 there were 25,605 machines out on lease.
As to stock
42.136
34,105
dividends, earnings, &c., see V. 84, p. 1433.
(Bell) Telephone & Telegraph Co.
{Reports of Sub-Coin panics for Calendar Year 1903.)
Below will be found the reports of the leading s ib-com¬
panies which issue printed annual statements. Thcsu com¬
panies a’T all controlled by the American Telephone & Tele¬
graph Co. through ownership of a majority of their issues
of capital stock, except the Southern New England Tele¬
phone Co. and the Bell Telephone Co. of Canada, in each
of which only a minority interest is held.
The parent com¬
pany, in its report for the calendar year 1905 (V. 82, p. 099),
gave the porcentag * of its holdings in each of the s ubsidiary
corporations, and in the absence of later returns we repeat
American
til's percentage, no materia! change, it is understood, having
taken place.
The Michigan State Telephone Company oper¬
ates under-license from the Bell interests, but is not controlled
York
12,967
38,901
231
business.
BALANCE
by the latter. A complete Fst of the s ibsidiaries was given
in V. 82, p. 099.
Among thos ■ making no report is the New
Charges and Surplus.
18,512
30
80.161
after deducting taxes,
before deducting taxes.
—Int., Rentals. &c.—
no
can
abplicable, If at all, to contracts to be made in Massachusetts In the future
and Is not to atfect the obligations of the existing contracts In that State.
To meet the requirements of Massachusetts Shoe Manufacturers for addi¬
tional or Improved machinery, contracts which are not within the prohi¬
bition of the law will be offered, which we believe will be acceptable to the
shoe manufacturers In the State, even though the terms of the modified
contracts may be less favorable to the shoe manufacturers than at present.
(V. 84, p. 1372.)
Pending legislation In Great Britain. If enacted, may
require modifications of the present forms of lease contracts In that country,
and may oblige the British company to build a larger number of its machines
In that country than heretofore.
With the extensions to Its factory at
Leicester, England, now under construction, and with the provision It has
made for further extensions, the British company can comply with the pro¬
posed law without lessening Its profits or materially affecting the growth
GROWTH IN NUMBER OF
Net Earnlnrjs
Current
Previous
Year.
Year.
S
5
54.543
46,803
337,517
66,993
270,721
_
which the com-
Its predecessors
theofgreater
Fany
t
and
have
ill effect upon
havetheconducted
part of theItbusiness.
prosperity
the company.
is to be
reported this week.
next will appear
constitutional, will
require certain modlftcatlons of the lease contracts under
2,177,795
1 .164,116
both years Include operations of the Scranton
b Figures are from Feb. 1
c These figures are
f Mow In¬
d These are results for main line,
roads from which
a month in this'4 columns, and
The four main
..
2,437.551
563 0(16 *1 .047.4SI8
911 173 4,326.422
109,063
2U.263
once
completed and machinery Is now being Imtalled.
buildings of that factory now have a length of 820 feet each and the floor
space Is over 17 acres.
In England and Germany the factory additions
are well under way and the facilities for manufacturing In those countries
will soon he greatly Improved and extended.
General Results.—During the fiscal year the business both In this country
and abroad has steadily Increased and the active demand for our machinery
has taxed the facilities of our factories and has necessitated a large Increase
In
In our Investment In merchandise, material and stock in
process.
this country the number of machines out under lease March 1 1907 was
57,777, an Increase for the near of 8.877.
of Its
329,183
529,147
183,469
758,160
490,580
for consolidated company,
cludes Rapid Ry. Syst., Sandwich Windsor Sc Amherst burg Ry. and Detroit
Monroe Sc Toledo Short Line Ry.
h These are early preliminary returns;
decrease due to earthquake, fire and strike among employees, Aug. 26 to
Sept
ANNUAL REPORTS.
9,164
13,239
94,458
243,282
121,327
324,942
Telephone Co., which has long paid dividends
of 0%
per annum; of its $50,000,000 capital stock, 04.43%
on Dec. 31 1905 owned by the parent company.
As to
was
the
growth of. the business in New York City see the report of
the New York & New Jersey Telephone Co. below.—-V. S4,
p. 1369, 1250.
Bell Telephone Co. of Missouri.
{Report for Fiscal Year ending Dec. 31 1905.)
The American Telephone & Telegraph Co. owns 00.27%
of the capital stock.
Results for
Gross earnings.
Operating expenses
Net earnings...
Calendar Year 1906.
$1 ,669,8111 Net earnings
1,252,014 Dividends
$417,797 \ Balance, surplus..
„..-_$417,797
416,368
.
$1,429
1484
THE CHRONICLE,
Capital per
Dec. 31—
1906.
1905
Stock.
Bonds.
Station.
No. Stations.
$6,391,250 None 42,843, Inc. 41.9 %
$149
4,916,825 None 30,187 Inc. 37.2 %,
162
The new stock (about $2,028,000 sold at par to shareholders of record
Feb. 26, It Is understood, Increased the capital stock to $8,788,000.—V. 84,
p.
510.
The new stock (about $2,028,000) sold at par to share¬
holders of record Feb. 26, it is understood, increased the
capital stock to $8,788,000.—V. 84, p. 510.
Bell
Telephone Go. of Philadelphia.
(Report for Fiscal Year ending Dec. 31 1906.)
President U. N. Bethell
on
Feb. 9 1907 said in substance:
Stock.—The
treasury received from new stock Issued at par during
1906 the following sums: in April, $3,992,050; In November, $2,893,350;
a total of $6,885,400.
Of the stock offered to stockholders at par during
the year $8,957,450, or 99.65 % of the total offered, was subscribed for.
There remains to be paid on this subscription $2,072,050, which Is due
Feb. 15 1907.
On Dec. 31 there was held In the treasury, subject to the
disposition of the board, $58,050 of capital stock.
The total authorized
capital stock at the end of the year was $30,000,000, and the total Issued
$22,878,433.
The company has no bonded debt and no real estate mort¬
gages.
Its capitalization Is represented by property at a fair and legitimate
valuation.
Franchises, or the privilege of using public highways, have not
been capitalized.
Extensions and Additions.—To meet the rapidly Increasing demand, large
additions to the plant were made during the year.
Twelve buildings,
specially designed, were completed, nine of which were put Into service.
In all, the company owned on Dec. 31 1906 49 buildings, including those In
process of construction.
No less than 771 miles of underground ducts
were added to the exchange systems In 1906, 390 miles
being added In
There
were
Philadelphia.
added to the underground cable plant 1,821,500
feet of cables, bringing the total of such cables to 5,875,000 feet.
These
underground cables contained an aggregate of 242,600 miles of wire.
Through underground lines from Trenton, N. J., to Philadelphia, and
thence to Wilmington, Del., were completed.
Approximately 118,600
stations,
72 % of the total In service at the end of the year, were In
exchange centres which were connected together by underground trunk lines.
The successful operation of long telephone lines In underground cables
has been made possible by the use of "loading coils,” the remarkable inven¬
tion of Prof. M. I. Pupln.
Of the total mileage In Philadelphia at the end
of the year, 91 % was In underground cables.
On Dec. 31 1906 there were
2,505 miles of poles and 36,300 miles of aerial wire In the system.
Of the
total stations, approximately 97 % were served from central offices equipped
with the common battery type of apparatus.
Of the stations gained during
the year, 18,053 were In business houses and 21,368 In residences.
Of the
164,211 In service, 91,119 were In business houses and 73,092 were In resi¬
dences.
The number of private branch exchanges was increased during
the year by 1,282, In connection with which 8,823 stations were Installed.
[VOL.
counties of New YorkJState, was by the Census of 1900 about 858,000'and
now exceeds 900,000.
The company has no bonded debt.
The cost of all
extensions and additions has been met out of earnings and by the saleAof
new stock at not less than par.”—V. 84, p. 573.
Central District & Printing
Telegraph Co., Pittsburgh, Pa.
(Report for Fiscal Year ending Dec. 31 1906.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 66.94% of the capital stock.
President D. Leet Wilson, under date of Feb. 14 1907, says:
The growth of the past year has been by far the largest of any year in
the history of the company.
There was a net gain of 68 private branch
exchanges.
At present we are operating 37 main exchanges, 153 branch
exchanges and 406 private branch exchanges.
During the year toll sta¬
tions were established in 43 additional towns, making a total at the close
of the year of 1,086 cities, towns and boroughs in which stations are oper¬
ated.
The total mileage of subway owned is 117 miles and 3,451 feet;
total mileage of ducts therein, 778 miles and 90 feet.
Common battery
switchboards were installed during the year In seven exchanges.
The
$1,288,636 Invested in real estate covers your general office and exchange
building, 7th Ave., Pittsburgh, Pa.; also in 19 other exchange and office
buildings.
To provide for our debt on Feb. 1 1906 there was offered to our stock¬
holders $1,000,000 of new stock, all of which was subscribed and paid for
at
There
par.
was
expended during this
year
$1,737,531 for real estate
and extensions to the plant.
To care for these expenditures and to provide
for the growth of the business during the coming year, your board will, no
doubt, authorize an additional Issue of stock at an early date.
(Stock¬
holders of record March 15 1907 were offered the right to subscribe at par
($100 a share) to and including April 15 1907 for $2,000,000 new stock in
the proportion of two shares for every eleven shares held, subscriptions to
be paid and certificates of stock to be dated Alay 1 1907.—Ed.)
Exchange
stations.
Dec.
Dec.
1906.'
31
31
Toll
Private
5,166
4,632
4,238
1,642
2,671
2,275
1906.
1905. |
S
*
S
j
Expenses—
2,869,357 2,450,1171General
842,096
734,225 (Operating
69.107
77,950 | Maintenance
Revenue—
Exchange
Toll
Private line.
Real estate
Dividends & interest.
99,836
358
Sub-licensee
Miscellaneous
10,475
I0,0s2
Total
..
..
4571 Private line
5,809 (Real estate
1900.
S
663,142
804,931
...
IS.
3.901,311 3,372,292 |
1904.
124,790
$4,241,528
3,155,834
82,497
$3,559,702
2,810,803
67.268
$2,446,028
1,831,330
Net telephone earnings.$1,373,520
Other Income
295,154
$1,085,694
192,869
$748,899
$614,698
315,542
Dividends
$1,668,674
__(6) 1,241,421
$1,278,562
(6)899,068
196,357
$945,256
$930,240
(6)836,010 (7 H) 852,367
Balance to surplus
$427,253
$379,494
$109,246
The additions to construction account In 1906 aggregated
viz.: Underground plant, $2,968,931; aerial plant, $1,340,066;
$1,295,897;
real estate,
$77,873
$6,418,788,
equipment,
$813,894.
PROFIT AND LOSS ACCOUNT.
1900.
1905.
|
1906.
1905. •
Earnings—
$
$
Expenses—
s
|
S
Exch. & toll service.5,178,999 4,222,676 |General and taxes
752,673
474,311
Private & leased lines
| Procuring & handling
and instruments..
27.161
18,8521
traffic
.1,400,620 1,236,473
Dividends & interest.
26,377
6,1831 Maint.,insur& rentals 1,405,376 1,244,502
estate
Real
& sund._
26S.776
ISO,6S01 Real estate, int., &c. 273.969
200,548
1
Total.
5,501,313 4,434,3971
Net inc. ac above. 1,60S,674 1.278.562
BALANCE SHEET DECEMBER 31.
1906.
1905.
|
’ 1906.
1905.
«
T jnhj/jtjpp—
1
Q
^
S
21.526,473 15,921,5781Capital stock
22.878,433 15.993,033
Real estate
2,412.164
1,598.271! Surplus
1.268,494
841.241
Stocks and bonds.
102,375
101,000 | Accounts and bills
Bills & accts. rec__
984,236
675,0281
payable
1,900,289 1,959,251
Supplies, tools and
| Dividends..
343,048
239,767
furniture
378,304
340,2771Other reserves
31,369
30,575
Cash
1,01S,0S1
427,712|
4 ssets
Construction
1
Total
26.421,633
—V. 84, p. 1054. 451.
Bell
19,063,8671
Total
26,421,633 19,063,867
Telephone Company of Buffalo.
(Report for Fiscal Year ending Dec. 31 1906.)
payable April 16 1907.
RESULTS
FOR
CALENDAR
1906.
...2,948,558 2,469,820
952,753
902,471
860,000
800,000
...
...
92,753
TEARS..
1905.
52,870
1904.
1903.
45,563
$1,400,264
845,145
36,611
$1,239,212
783,671
29,863
$1,086,489
643,123
435,600
$555,118
363,000
$455,541
327,918
$443,346
325,144
$136,023
$192,118
$127,623
£$101,731
$1,573,547
Expenses (incl. malnt ).
1,001,924
Net earnings
Dividends (6%1
x
$571,623
depreciation
Official; apparently given after making other deductions of $16,471.
GENERAL BALANCE SHEET DEC.
1906.
S
Assets—
Plant
7,422,733
Real estate
496,610
Contracts & licenses.
210,000
Supplies, &c
Cash
Bills & acc’ts recelv.
Total
1906.
§
11,720,4 IS
Assets
Construction
Supplies
Tools and teams._
Real estate
Accts. receivable..
Cash
Total
—V. 84.
p.
1905.
§
1906.
1905.
$
$
11.000,000 10,000,000
10,225,7571 Capital stock
291,500
580.573
673.325
161,3961 Surplus
28,356
23,694 | Accounts payable.
673,993
407,378
1,288,636
1,323,000
701,000
1,045,7651 Bills payable
444,862
385,993 | Reserve, unearned
158,379
;
171,513
17,861!
rentals, tax<
261,833
13,932,151 11,800,4651
510, 452.
Liabilities —
Total
13,932,151 11,860,465
Chicago (Bell) Telephone Company.
(Report for Fiscal Year ending Dec. 31 1906.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 52.04% of the
capital stock.
President Arthur D. Wheeler, under date of Jan. 16 1907,
says in substance:
Payment under Ordinance of 1889.—In 1906 $451.481 was paid to the City
on account of its demands under the ordinance of 1889, which
provided for the payment to the city of 3 % upon the gross receipts from
the telephone business done within the city.
This makes a total of $1 ,393,987 paid to the city on claims under that ordinance (V. 82. p. 454, 572).
Plant.—The net Increase In telephone stations In service Is 27,611; of this,
18.789 was in the Chicago exchange system and 8,822 in the suburban and
rural districts, partly within and partly without thcChicago limits, connected
with the various other exchanges which the company operates In Illinois
and Indiana.
The grand total of telephones in service for subscribers at
the end of 1906 Is 170,834 (Chicago exchange system 123,177, suburban
47,657), of which 101,398 are upon measured or message service rate:
78 % of the stations In the Chicago exchange system are
upon measured
service basis.
The damages and loss occasioned by climatic conditions In
January amounted to over $100,000.
Underground construction from Chicago to Kenosha, as a part of an un.
derground system to Milwaukee, was carried forward during theyearh
The use of underground cables for such distances becomes possible throug
the use of loading colls embodying the great invention of Professor Pupln
Our real estate operations drulng the year have Included the erection of ex¬
change buildings at Irving Park. La Grange, Wilmette, Blue Island and
Wheaton and for the Chicago sub-exchanges to be known as Edgewater and
Kedzle.
Additional land has also been secured.
Plans were completed
and bids received for the erection of a large building adojlnlng the main of¬
fice on Washington St., Chicago, to provide opportunity for growth of the
Alain exchange.
The building has not been commenced.
The stockholders should know that the practice and views of the company
since 1889, which the Supreme Court has now indicated to have been er¬
roneous, were openly and In good faith entertained, and were In harmony
with prior decisions of the Supreme Court.
Negotiations.—The company has been In continued negotiation through¬
out the year with a committee of the City Council of Chicago upon the sub¬
ject of an extension of ordinance rights within the city.
Extensions and Additions.— Pending action by the City Council, the stock¬
of Chicago
holders have not been asked to Invest additional money in the plant, as It
has seemed reasonable that the terms of the ordinance under which such In-’
vestment could be made should be ascertained.
The plant Increase, there s
fore, has been made by the expenditure of practically all the reserve fundsl.
your surplus and borrowed money.
It is obvious that further extension
should not be made until warranted by the Investment of additional capltae
The operating efficiency of the company In its Chicago exchange system h as
with great difficulty, approximated the company’s high standards.
Th
disturbances and uncertainties of litigation and of negotiation with the city
have compelled the company to fall behind that ample margin of pro¬
vision for the future which It has always sought to maintain.
At the lowest
estimate, $6,000,000 should be exper *ad In 1907 If the changes and exten¬
sions contemplated should be necessitated
by the passage of an ordinance
upon the basis now under consideration by the committee of the Chicago
1905.
$
|
|
Council.
EARNINGS, EXPENSES, Ac.
31.
1906.
$
1905
$
Liabilities—
6,146,7041Capital stock
7.260,000 6,050,000
467,447 I Surplus
133,798
133,798
210,0001 Reserve accounts
60,288
53,211
365,410
248,5461 Bills & acc’ts pay’blel,363,519 1,138,060
55,401
78,4121 Bonded debt
None
None,
267,451
223,960 j
8,817,605 7,375,0691
Total
.8,817,605 7,375,069
‘‘Dividends at the present rate of 6 % per annum have been paid uninter¬
ruptedly for over 25 years.
It has been our custom to charge off to De¬
preciation surplus earnings above the amount necessary for dividends.
The population of the territory served, comprising seven northwestern
102,471
,
Number of stations
Gross earnings
To
48,267
24,158
.
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 50.23% of the capital stock.
The following comparative statement was issued on Feb.
16 in connection with the offering to shareholders of record
Feb. 11 1907 of the right to subscribe at par for $1,452,000
new stock to the extent of one share for
every five shares of
their respective holdings.
Subscriptions under this offer
wrere
601,859
061,736
985,107
139,885
8,809
1903.
164,211
Telephone earnings
$5,206,169
Expenses, Includ. Int., &c 3,832,649
Total net Income
1905.
S
105.2 IS
4,995
51,936
47,765
..
1905.
104,611
82,738
RECEIPTS AND EXPENSES.
COMPAR A TIVE STA TEMENT.
1906.
Total
stations.
Sublicense.
line.
stations.
92,536
74,189
1905
or
Stations Dec. 31 Including
controlled companies._
LXXXIV
1906.
Number of telephones..
Conduits (miles)
Miles of wire—
Underground
In aerial cables
On poles
Gross
earnings
Operating expenses
Net earnings
Dlvld’s paid (10%)
Surplus
-
1905.
1904.
1903.
170,834
143,223
117,893
101,187
389
335
254
235
248,939
53,031
57,016
$
7,907,568
187,231
51,711
52,213
161,202
46,697
149,234
40,480
41,484
$
45,189
$
$
6,289,424
7,131,342
5,504,531
6,373,116
4,809,500
5,534,590
4,113,246
1,618,144
1,400,000
1,626,811
1,400,000'
1.563,616
1,400,000
1,421,344
1,274,835*
218,144
226,811
163,616-
146,509
June 22
BALANCE SHEET DECEMBER
and
1,764,281
Material
Investments
Bills and accounts
receivable
388,133
93,877
5
14,000,000 14,000,000
168,066
1,276,392
Reserve for taxes.
232,389
1,509,895 Reserve for renew. 1,651,536
216,3941 Reserve for un34,242
104,2631 earned rentals..
| Reserve for lnsur.
175,000
173,5761 Reserve for doubt82,362
I »ful accounts
| Res. for bldgs.,&c.
63,423
251,3211 Reserve for out| Rtandlng tickets.
3,854
| Bills & acets. pay. 2,475,291
| Surplus
1,073,339
605,619
214,015
19,085
19,791,436 16,572,5891
573, 161.
Net Gain in Subscribers Shown in a Few of the Larger Exchanges.
Subscribers {No.) Increase. Total No. SubscrilersiNo.) Increase. Total No.
596
7,805
753
Chattanooga, Tenn.
4,726 Memphis, Tenn
8,246
758
Evansville, Ind
4,787 Nashville, Tenn_... 1,368
13,195
Knoxville, Tenn—
837
3,389 New Orleans, La__ 1,470
527
3,131
Louisville, Ky
1,287
10.399 Paducah. Ky
On Jan. 1 1907 there were 1,260 stockholders, holding an average of 134
38,122
150,000
.
Furniture,fixtures,
&c
Cash
1905.
$
1906.
Liabilities—
$
$
16.706,426 14,317,138 Capital stocks
buildings
Total
—V. 84, p.
31.
1905.
1906.
Assets—
Plant
Real
estate
shares.
43,363
37,560
3,892
EARNINGS. EXPENSES. CHARGES. ETC.
1094.
1905.
1906.
121,313
141,266
165,190
Total subscribers Dec. 31
$
$
$
Earnings—
2,718,592
3,126,128
3,643,658
Exchange service
855", i94
ToUs
Private lines..
19,791,436 16,572,589
Total
Stations and Number in Service at End of Year.
Wash’ton.
Baltimore.
Elsewhere.
Total.
In service Jan. 1 1906.
21,202
23,285
8,133
52,620
In service Jan. 1 1907.
31,155
11,969
70,167
27,043
Per cent of gain
27.5
33.8
47.1
33.3
Additions to construction account 1906, $2,038,779, viz.: Underground
lines, $628,173; aeilal lines, $585,672; equipment, $824,933.
For construction and other purposes the company borrowed upon Its
notes during the year $2,325,000, making outstanding bills payable $7,024,000.
The American Telephone & Telegraph Co. added to Its Invest¬
ment In real estate for your company’s use $312,950, making the total of
Through the sinking
such Investment at the end of the year $1,217,465.
fund, $26,000 of mortgage bonds were canceled, leaving the bonded debt
$1,344,000.
The work of extending the plant, particularly In Washington and Balti¬
In Washington the capacity of the
actively prosecuted.
vari¬
central offices was considerably Increased, and the construction of a new
central office was almost completed.
The underground conduit system
was extended by the addition of 108,452 feet of conduits, comprising
423,298 feet of ducts, making the total conduit In the District 413,225 feet.
Within the fire limits, approximately 99 % of the total wire mileage was un¬
derground, or otherwise so disposed of as not to be upon streets and ave¬
ous
In Baltimore, the new 9-story St. Paul exchange was successfully opened
early In thefyear, and additional equipment was Installed In several other
offices.
The old bulldlng:.on St. Paul St., which was badly damaged by the
great fire, was disposed of.
The underground conduit system
In Baltimore
greatly extended; 95,978 feet of conduit (comprising 497,458 feet ol
ducts) was constructed (making the total conduit In the city 367,295 feet.—
Ed.).
Of the total wire mileage within the fire limits Dec. 31, approxi¬
mately 95 % was underground, or otherwise so disposed of as not to be upon
public streets and avenues.
Outside of the District of Columbia and the City of Baltimore, 19 central
offices were established or acquired, 402 miles of exchange poles erected
and 5,462 miles of exchange wire placed.
The lnterurban trunk line plant
was aiso greatly extended, 70 miles of pole lines and 1,440 miles of wire
was
having been added thereto during the year.
In 1902 the company discontinued the payment of dividends, and It has
since vigorously carried forward a comprehensive plan of development.
On Jan. 1 1902 It had 15,548 telephone stations and on Jan. 1 1907 70,167,
an Increase In five years of 54,619, or 351.42%, notwithstanding the great
Baltimore fire.
Your board believes that no other course was open than
that wrhleh has beentfollowed, although It has necessitated a heavy floating
debt.
This debt and the Investment by another company In real estate for
this company’s use have reached such proportions that It will soon be ad¬
visable to make some adjustment of the company’s finances with a view
to a more sound and permanent arrangement, and that funds for further
extensions as the business develops may be obtainable.
Earnings—
Exchange
Total
117,142
26,712
174,261
89,751
21,243
1,257,241
122,404
66.708
22,291
1,104,011
90,319
45,892
23.609
2,452,076
1,953,736
1,468,644
1,263,831
308,333
583,536
729,180
102,345
133,180
1,998
240,230
500,022
527,096
102,124
92,891
2,183
222,542
166 795
288,333
1,858,572
593,505
1,464,546
1,450,816
17,828
Expenses—
General and taxes.
Traffic
Malnt. & reconstruct’!!.
Rentals
Real estate
Sundries
Total
Net earnings
Deduct—
Interest charges..
365,417
152.406
Sundry adjustments
sur.75,682
Balance
1,668,481
424,117
1906.
%
Telephone
plant,
contracts & 11c.. 10,103,000
178,275
Real estate
32,778
Furnlture&flxtures
52,281
Tools and teams..
631,548
Materials &supp_.
Accts. receivable..
Cash
Stocks and bonds.
Total
407,272
155,209
21,501
...11,581,864
531,051
53,001
33,567
3,689
638,664
84,697
80,165
631
489.189
1,076,436
187 395
183,426
1,326
232,054
281,169
147.160
sur.60,860
sur.2,642
def.214,226
31.
1906.
1
$
| Liabilities—
| Capital stock (par
2,650,000
$100)
8,064,221 !
1,344,000
244,381 (Bonded debt.
7,024,000
25,440 | Bills payable.
254,943
(Accounts payable.
163.342
436,004 I Reserves
145,579
508,0321 Surplus
1905.
$
....
92,984 1
21,501 1
|
9,392,564 I
4,027,117
3,480,041
396,132
1,150,022
1,889,330
11,923
357,021
325,982
989 629
828,630
1,622,744
1,425,477
7,577
5,719
307,598
097,442
1,159,145
6,735
3,447,407
1.937,437
2,976 971
1,679,451
2.585,807
1,441,310
2.170,920
1,309,121
191,433
213,567
160,108
160,058
940,691
121,137
146,005
818,674
123,544
145,487
706,383
1,260,857
418,594
1,940,843
1,085,816
355,494
1,522,249
1,035,414
273,707
General expenses
_
Total
Net earnlnes
Deduct—
Taxes
1,129,504
(7%)
1,534,504
Total deductions
402,932
Surplus earnings
Total surplus Dec. 31 —
2,343,775
..
...
...
Total
—V. 84. p. 393.
24,562,848 20,542,391
Total
24.562,848 20,542,3911
162.
Missouri & Kansas
Telephone Go.
{Report for Fiscal Year ending Dec. 31 1906.)
Telephone & Telegraph Co. on Dec. 31 1905
owned 53.72% of the capital stock (V. 82, p. 699).
President C. S. deed, under date of Jan. 23 1907, says:
Improvements and Extensions.—The work of expanding and Improving the
property has been pushed with vigor.
The new capital Invested within the
year has amounted to $3,389,861.
This, like a similar amount In 1905,
was applied for the purchase and construction of new property.
In addition
to this, earnings have been liberally applied for reconstrutclon and better¬
ments.
The company has lately completed Its construction work begun
two years ago to such a point as to be able to reduce Its construction forces
The American
by five and six hundred men.
Stations.—The company now has nearly 100,000 stations of Its own and
about 50,000 other stations co-operating under various contracts.
Strike.—In August last about 900 members of the International Brother¬
hood of Electrical Workers and their sympathizers left the employ of the
respect unreasonable.
considerable
were made
filled and who had not
company In support of sundry demands In every
The strike lasted about two months and was attended by
violence to persons and property.
No concessions whatever
and only the strikers whose places had not been
been guilty of violence were re-employed.
directors regret the necessity for a tem¬
this time that every
The
located—In
population, wealth and volume of business—makes It Imperative that the
compnay (In common with all other public service corporations) make
essential
porary suspension of dividends.
It Is
at
dollar obtainable be expended for the Improvement of the property.
wonderful growth of the two States In which the property Is
every
possible effort to keep pace with the general Improvement.
New telephone property does not reach Its
time after Its Installation and the very rapid
full earning power until some
expansion of the plant In the
past three years has provided the company with a large
which has as yet barely begun to show Its effect on
amount of property
the revenue. This
of greater value each month, and though some time must
elapse before adequate returns can be expeeted from It, your directors
feel no hesitancy In expressing the opinion that eventually It will give
It Is believed that the suspension of dividends will not
adequate returns.
be for a period of serious length.
property becomes
Plant Statistics on Dec. 31—
Number of exchanges, Including
Number of stations
Number of sub-licensee stations
Total number of Bell
Miles of toll pole line
Miles of toll wire
branch offices—
stations
RESULTS.
1906.
120
1905.
89
Inc.
31
75,481
17,448
54,991
12,535
20,490
4,913
92,929
7,686
.42,468
25,403
67,526
67
7,619 29
1906.
Earnings—
Exchange
$
1,426,534
Toll.
Real estate
Miscellaneous
472.974
42,913
93,000
1905.
$
Expenses—
982,274
415,472
20,310
85,828
..
i..
The additions to construction account 1q 1906 aggregated $2,038,779, viz.: Aerla
lines, $585,673; underground lines, $628,173: equipment, $824,933.—V. 84, p. 510.
...
Increased from $20,000,000 to $30,000,000.—Ed.)
changes were opened and equipped during the year.
close of the year, 508 exchanges In operation.
The
ne
Sixty-eight new ex¬
This made, at the
company owns and
The number of linen! feet of cable
occupies buildings of Its own In 21 cltie3
purchased during the year was 1,607,024.
931 miles of toll pole routes
w ere
added with 8 151 miles of
wire.
,
,
.
, ...
-
BALANCE SHEET DECEMBER
1906.
$
12,628,578
Supply department
757,667
Real estate
380,307
Accts. receivable
1,292,274
Cash
156,092
Stock and bonds..
468,659
Miscellaneous
129,155
Assets—
Construction
..
Total
-V. 84,
1905.
$
1905.
$
363,233
740,910
390,000
91,346
59,823
285,566
472,513
390,000
68,009
53,077
510,766
163,232
...
Cumberland (Bell)
1906.
$
390,109
._
...
President James E. Caldwell Jan. 21 1907 said:
The figures Indicate a healthy and substantial gain In both gross and net
earnings.
The net gain in subscribers was 23,924, making the total number
of subscribers 165,190.
This gain was several thousand more than in any
previous year In the history of the company. To meet the growth of the
business, your directors on Jan. 3 1907 authorized an Increase In the capital
stock equivalent to 20 % of the amount then outstanding, to be due and
payable In quarterly instalments during the year 1907. This, when taken,
will make the present authorized capital ($20,000,000) fully taken up and
paid for. (The limit of capital stock was in February 1907 authorized to
7 082
..1,645,312 1,269,165
2,035,421 1,503,884]
9,392,564
Telephone & Telegraph Go.
(Report for Fiscal Year ending Dec. 31 1906.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 52.09% of the stock.
35,386;
EARNINGS. EXPENSES AND CHARGES.
...
11,581,864
1,166.757
1906.
1905.
1905.
$
Liabilities—
$
$
13,449,650
22,724,781 19,198.739 Capital stock.. ...16,812.050
1.091,000
1,065,000
Bonds
and
debs
Real estate
and
2.343.775 1.940.843
645.260 Surplus
buildings
764,007
1,114.781
393,178 Reserve for renew’s 1,003.094
Materials
560,512
46,611 Bills and accounts
Stocks and bonds.
74,515
3.024.186 2.626.210
258.601
payable (net)
Cash...
439,033
21.750
Due for real estate
18.000
62.788
Res. for cont. liab.
2,532
235.369
Undivided profits.
294,211
Assets—
Plant
Total
Total
78.693
BALANCE SHEET DEC. 31.
1905.
$
2,650,000
1,370,000
4,699,000
552,059
51,608
69,897
29,592
1906.
$
OPERATIONS AND FISCAL
BALANCE SHEET DECEMBER
Assets—
1903.
$
$
$
2,093,556
214,666
4,656,422
Suspension of Dividends.—Your
EARNINGS AND EXPENSES.
1904.
1905.
1906.
Toll
Real estate
Sundries
5,384,844
Operating expenses
Malnt., reconstr’n, &c._
Real estate and mist el
nues.
S
1,174,743
1,504
44,249
88,029
969,133
1,318
140,563
1,622
45,451
110,816
Expenses—
Interest
Dividends
5
1,372,405
Total
Net Gain in
103,744
2,401.305
1,558
50 515
_
1903.
1,548,550
—
Real estate
Other sources
Chesapeake & Potomac (Bell) Telephone Company.
(jReport for Fiscal Year ending Dec. 31 1906.)
The American Telephone & Telegraph Co. on Dec. 31 1906
owned 57.06% of the capital stock (V. 82, p. 699).
The report signed by President U. N. Bethel!, under date
of Washington, D. C., Feb. 9 1907, has the following:
more, was
1485
THE CHRONICLE.
1907.j
I
Liabilities—
309,7841 Surpl as.
675,1711Accts. p
229,7791 Reserve*
234,719
211,866
212,817
673,098
283,889
424,683
1906.
1905.
$
189,964
31.
$
3,627,700
457,000
3,618,800
463,000
9,839
.11,584,696
133,497
6,361,194
38,159
293,727
252,175|
69,2541
15,812,732 10,774,8801
p.807. 274.
Total.
.15,812,732 10,774,880
Company.
{Report for Fiscal Year ending Dec. 31 1906.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 58.33% of the capital stock.
President C. E. Yost under date of Feb. 14 1907 says:
Nebraska Telephone
i486
THE CHRONICLE.
At the close of 1906 your company had 162 exchanges, also 41,517 sub¬
scribers’ stations, an Increase over the same date of 1905 of 8,'146.
In
addition, the company was connected by sub-license contract with 36,181
subscribers of so called Independent telephone companies.
During the
year over 1,200 farmer subscribers were added to our list.
There were
9 of our larger exchanges rebuilt and changed to common battery; 944,342
of
feet
underground conduit was laid; 96,780 feet of underground cable
was pulled In. 1,233,726 feet of aerial cable was-strung.
During the year there was expended for construction SI,039,401, making
the total amount In the construction account $4 625,567, with a capital
stock < f < nly $3,281,200.
There Is in the surplus account $558,321 and In
the reserve for maintenance $281,973.
During the past year our new South
Omaha exchange building and our Omaha warehouse were completed.
Our new branch office in North Omaha is nearly completed, and we expect
to begin giving service from there about March 1.
We have Invested in
buildings and ground $347,639.
During the last year our indebtedness
was increased, but tne increased earning capacity of the planf will
pay a
good return on the Increased debt.
'Hit Increase in exchange receipts for
the year over 1905 was $179,089, and the increase in the toll line receipts
lxxxiv.
OPERATIONS AND FISCAL RESULTS.
.
Was
[Vol.
Statistics.— Results of operations were as given below;
On Dec. 31—
1006.
li,05.
1904.
1903.
Miles ol exchange wire .375,126 305,221 249,548 220 7 49
Exchance stations
.205,J 84 166,563 132,759 114,102
Express Stations
_
451
7,293
7,163
7,070
27,176
.239,653
18,373
192,099
153,005
.
7,014
6’, 744
6,699
9,951
6,844
2,419
93,700
contract
stations.,
Total
1901.
143,958
84,131
100,864
■
Private line stations.
Sub license
1902.
183,421
.
stations
13,170
1
31,067" 114,452
RECEIPTS AND EXPENSES.
1906.
$
Revertur—
I
1905,
1904.
S
$
1903.
S
.xchange service
.6,632,073 5,677,135 5,216,013 4 ,856,596
Toll service..
.2,267.122 2,022,833 1,759,834 1,544,930
Private line and miscellaneous..
1 17,387
180,648
153,248
152,380
Messenger earnings
60,542
65,437
66,559
70,126
Real estate revenue
55,951
37.019
10,052
3,672
Interest
1 05,572
116,1163
118,724
100,154
.
.
__
_
$43,343.
..
.
.
.
RESULTS FOR CAI E.XDAR
A EARS.
1906.
Exchange earnings
:
Toll
Private line
Heal estate.
Miscellaneous
1905.
25
Total
Expenses—■
General and taxes
Operating
_•
Maintenance
Rental and u.yalty
Private line and miscellaneous
Messenger expense
$1,166,415
277|
SI. 574,6651
$ 1 .361
l/>7
$1,166,415
1,084,559
906,435
,
434,551 |
420,527 y
70,038
Maintenance
Instrumental rent....
Sub licensee and messenger...
Miscellaneous
...
..
Total operating expenses
Net earnings..
$1
300,367
$274,302
$1,084,555*
$276,538
...
1
.
.
Balance, surplus
$906,435
$259,980
DEC.
1905.
S
1996.
1905.
|
Assets—
|
Liabilities —
$
$
Plant
...4,684.964 3,627,4381 Capital stuck.. 3,281.200 2,635.600
Supplies, Ac
46,263
4’,575 | Surplus.
558.324
475,515
Real estate
347.639
and
ac271,299|Bils
Stocks A bonds.
15,973
2,493
counts payable 1 369,169
778,652
Accts.&bllls
Cash
ICC.
235 238
186,994
|
90,846
82,2451
Total.
5,420,923
—V. 84, p. 807, 452.
4,102,0451
New
Reserve
Total.
212,230
Prop. &franch.26 665.010
Construction
Real estate
Stocks Abends
A nets. rtC'-iVCash
.
—
[j’i
The American
General Results. —Compared with 1905 there was an increase In gross
of $1,241,755 and in net revenue of $199,528.
The number of
stations added to our exchange lists was 38,621, making the total at the
end of the year 205,184.
Including the subscribers connected with ex¬
changes of tiie Southern Massachusetts, Northern and Aroostook, formerly
the White Mountain and Vermont companies, the exchange stations op¬
erated under the management of tills company In Maine, New Hampshire,
Vermont and Massachusetts, Including also a small number In Rhode island,
numbered 228,400, as compared witli 185,448 at the end of 1995. in addi¬
tion, there were 27,176 stations equipped with Pell telephones and operated
by sub licensees In small towns and rural districts,- making the entire num¬
ber of exchange and t 41 stations connected with our system 255,576.
The
growth of the business lias been greater than that of any preceding year.
The telephone system of tills company Is now, measured by the number
of stations connected with Its exchanges and toll lines, the second. In fact
In magnitude in the United States, rind there is scarcely a village or settle¬
ment within Its territory whose residents cannot, avail themselves of Its
It Is an Interesting fact that In the four great centres, New York.
service.
Chicago, Philadelphia, and what may tie termed tlie Greater Poston, the
development of the business In proportion to population Is very nearly
uniform, the latter being slightly In the lead, with one telephone station to
every fourteen of the population; while In the city of Boston alone the pro¬
portion reaches to about one In every eleven of the Inhabitants.
Comparing this development with that of the four largest cities of Europe,
find that in London there was on Jan. 1 1907 one exchange station to
each 53 o' population: In Berlin, one In 24; In Pails, on Jan. 1 1996, the
latest date foi which statistics can be obtained, one In 46, and in Vienna
one In 79.
Additions and Improvements.— Extensive additions have been made,
and the work of reconstruction has been vigorously carried forward.
Hie
latter wotk has consisted, to a large extent, in the substitution of improved
switchboards for those of older type, and the replacement of open wire bv
aerial cable In the exchanges to provide for further growth and reduce
the cost of future maintenance
In replacements and extension? unwards
of 1,300,009 feet of aerial cable have been hung.
About one fourth of die
entire length of our toll circuits lias been rearranged, there!y materially
increasing their efficiency.
Early In the year a part or tiie territory was visited by two sleet storms,
of unusual severity, which Involved a considerable addition to tne exoe-n.se
accounts, as well as loss of revenue while the damaged burs were out of
service.
Ji the 49 exchanges which constitute the Poston and Suburban Division,
26 had on l'oc. 31 1996 been equipped with relay switchboards of the most
It Is expected that within the next year substantially
approved form.
all of the Boston and Suburban exchanges will be equipped with relay
we
switchboards.
Sub licensees.—-A number of local companies, each covering a consider¬
able area of rural territory, have been organized, to which the parties in
Interest have conveyed their respective properties, this company i eeoming
the majority holder of the capital stock, the management, however, being
largely’entrusted to those having substantial local interests. To these
companies we have in many Instances made loans for the extensicn and
1,398,917
1,968,299
3,965,285
501,219
$1,072,646 for equipment.
The expenditure for land and buildings was
$2-59,447.
Twenty two new exchanges have been opened.
The under¬
ground system of tHe company now consists of about 341 miles of conduit,
containing 2,697 miles of duet.
6,539,392 feet of cable have been drawn
Into the underground system.
Construction and Repairs.—The expenditure for lines and equipment
during the year has been:
For new construction, $3,951,884; tor repairs
and maintenance, $3,045,183; total, $6,097,008, as against an expenditure"
In 1905 of $4,720,792.
We estimate that tiie expenditure during 1907
wlli be:
For new construct!* n and real estate, $2,509,000; for maintenance,
'
118,138
$
21,723,1 15
1,941,895
1,550,659
1,139,470
1,391,487
3,28-8 8 12
514,158
|
1906.
$
1905.
?
Capital stock.29,761,100 26,244 69C
Surplus...
1,913.671
1,762,877
Bonded debt. 3,-507,000
4,000 000
Acets. payable 3,473,908
870,803
Reserve
1,416,298
1,671,344
Liabilities—
Total
40,071,977 3 1,549,627
Capital Stock and Bonds.—From the Issue of stock at par the treasury re¬
during 1906 from tiie 1905 offering $032,225 and from the 1906
offering $1,719,100, a total of $2,351,325.
This sum being Insufficient
to provide for the large additions made to the property
during the year,
the additional funds required were raised by loans upon notes
aggregating,
Dec. 31 1906 $2,050,000.
To pay these loans and provide for 1907 cpnstructlon, the directors In December 1906 authorized an offer to stock¬
holders of new stock at par to the amount of 33 1-3% of the then out¬
standing stock, or $6,310,167.
The entire Issue was taken excepting some
fractional shares, aggregating less than 60 shares, which remain in the
treasury.
Rates arid Growth in Stations.—In carrying out our policy substantial re¬
ductions In service charges were made In 1906.
As a result of such reduc¬
tions, the average earnings per station have decreased during the past ten
years approximately 50%, the decline being fairly uniform throughout the
entire period.
The total gain ' for the teii years was 117,109 stations,
or about 817 %.
Territory and Plant.—The territory operated by the company embraces
all of Long Island and Staten Island, Including three of the five
boroughs
of New York City and all of that part of New Jeiscy which Is
directly tribu¬
tary to New York City.
It covers about 4,500 square miles and contains
a population estimated at the present time at
3,600,000.
Of the buildings
now occupied 33 are owned, 25 of which are modern lire
proof structures
especially adapted to the peculiar needs of the business.
More than 66 %
of the stations in the entire territory are served from common
battery offices.
The additions to construction account during 1906 aggregated
$5,‘296,641.
viz.:
Real estate, $477,946; underground plant, $2,058,305; aerial
plant,
$1,313,838; equipment, $1,446,552.
Over 100,000 of the total number of
stations operaUd, or more than 75% of the whole, are In centres which are
joined together by an underground trunk line system.
The extensive de¬
velopment In underground trunk lines has been made possible by the use of
"loading colls,” the remarkable inv< ntlon of Prof. M. 1. Pupln.
Your com¬
pany has the exclusive right to the use of this Invention within Its territory.
Arrangement with N. Y. Telephone Co.—The operations of your company
and of the New York Telephone Co. are necessarily so
closely related that'
In many respects the systems of the two companies
may be viewed as one,
their rapid growth being shown as follows:
ceived
New York A New Jersey Telephone Co. and New York TcU'phonc
Co.
No. Telephones Dec. 31— 1906.
1905.
1904.
*’1903.
1902.
Tele phones In service and
under contract
..389,000
321,890
255,993
210,981
107,792
Net gain eluting year
67,110
65,897
45,012
43,189
42,414
To secure uniformity and economics in administration, an
arrangement
was made in the early part of 1906 with the New York
Telephone Co.
under which the construction and operation of the plants of both
companies
have been entrusted to a staff of officers serving the
companies jointly.
Competition.—The companies operating plants In competition with your
have made no apparent progress during the year, and your com¬
pany’s development has not been appreciably affected by their operations.
company
EARNINGS. EXPENSES AND CHARGES.
1906.
No. of stations Dec. 31.
Earnings—
Exchange service.
Pay stations
Tolls
Real estate
Other Income
Total
Expenses—
.
General and taxes
Operating
Reconstruct’n & malnt.
Royalties and rentals
Real estate expenses.
_.
Total
Net earnings
Dividend (7%)
capital stock Jan. 1 1907, $29,761 100. The second Installment upon tiie
subscription made under circular of June 6 1906, $1,936 700, lias been paid,
making the presenr Issued capital stock, $31,697,800.
Surplus
122,795
Jersey Telephone Co.
{Report for Fiscal Year endin'! Dec. 31 1906.)
The American Telephone & Telegraph Co. on Dec. 31 1905
owned 8.7S% of tli s company’s capital stock, which holding
with the amo mt owned by the subsidiary New York Tele¬
phone Go. gave it control.
The report, signed by Chairman Charles F. Cutler and
President U. N. Bothell, says, under date of Feb. 9 1907:
$3,000,000; total, $5,500,000.
Nnr Stock.—During 1906 payment was received for new stock issued
under cltculars of 1905 and 1906
$3,516,500, making tiie outstanding
Ponds.—Of the bonded debt, $493,000 was paid off during 1996, and a
further amount of $199,990 of the 6 % bonds of the Issues of 1892^aud 1893
was paid on April 1 1907, and the bonds retired.
1905.
Total
40,071,977 34,549,627
V. 84, p. 1125.
Improvement of the properties.
Atassacnus( tts Commission .—All the telephone companies (bine business
In Massachusetts on July 1 19<'0 came under the provisions of (Umpter 433
of the Acts of 1996 which provided that the Massachusetts Highway Com¬
mission shall have general supervision of all companies engaged In the trans¬
mission of Intelligence by electricity within said Commonwealth.
The expenditure for new construction during the year amounted to $3.051,884, of which $757,581 was for exchange aerial construction. $686,897
for exchange underground conduit and cables, $534,760 for toll lines and
165,4 74
New York & New
England Telephone & Telegraph Co.
revenue
_
__
5,420,923 4,162,045
in substance:
3.051,884
S'jpply dep’t. 2,521,422
272.278
{Report for Fiscal Year endin'! Dec. ol 1906.)
Telephone <fc Telegraph Co. on Dec. 31 1905
owned 53.27% of tlie company’s capital stock.
(See V. 82,
p. 699.)
President Thomas Sherwin under date of May 6 1907 says
_
150,793
BAL ANCE SHEET DEC. 31.
1906.
$
31.
Assets—
1906.
$
.7,489,349 6,447,122 5,880,319 5,277,725
.1,823.630 1,624,122 1,443.242 1 ,415,1 10
1,672,857 1.458,648 1,320.447 1.297,002
.
,
GENERAL PALA MCE SHEET
1 ,145.819 1,103,821 1,1 15,900
1 ,836,-124 1 .606,71 1
1 ,435,774
.3,045,184 2,778,897 2,547,302 2,156,217
401,875
342,071
288.548
314,926
16.788
27,750
1 253
15,1 85
63,188
65,664
66,425
70,600
56,991
38,243
3,764
1,084
222,615
238,5 4.8
208 348
222,184
.
.
Total
Net revenue
Di\ blends (6 %)
72,794J
...
.
Interest
54,245]
6,692,865
.1,467,803
.
..
Real estate expense
$248 2121
Operating
...
.
55,002 j
Total earningsGeneral expenses
8,071,244 7,323,561
—
1904.
$1,018,2711
127.9801
18.135.0 $1,361,157
Deduct—
Interest
Total
*131,442
$
3,549,697
881,222
2,650,969
232.579
132,679
1905.
112,049
1904.
80,324
1903.
66.564
$
$
2,961,700
836,231
3
'
2,601,024
2,117,188
207,896
94,273
1,820,280
161,068
108,320
2,262,289
596,031
1.656,943
132,803
93,277
7,447,146
6,217.288
5,393.709
4,741,344
852,961
1 ,934,905
2,357,086
346,606
965,570
874,473
761,331
1,446,050
168,095
1,230,673
1 .('70,056
1.977,087
289,137
141,702
5,659,653
4,708,655
1,787,493
1,508,633
86.629
1,272,797
62,618
1,359,426
428,067
703,017
923,412
1,601 ,793
250,686
108,873
219,950
81,124
3,850,335
1.543,374
3,382,928
1,034,149
66,422
962,088
68,282
852,215
1,096,767
411,866
1,028,510
514,864
920,497
1,358.416
437,910
♦Of the total stations (131,442) on Jan. 1 1907, 69,596 were In New
York
end 61.846 In New Jersey.
June 22
BALANCE SHEET
4,821,095
Equipment
2.683.719
Real estate
Mater. & supplies.. 1.605.281
Atct5. receivable
1,359,181
Stock subscriptions
530,000
Stocks and bonds.
150.500
Treasury stock
257,578
Cash and deposits.
_
1906.
$
;19,081,000
1905.
8
17,360,000
1.233.000
2,205,774 i
bonds..
773,134 j Bills and accounts. 2,955,673
639,056
988,436! Reserves
632,700 ! Dividend payable
473,262
445.6411
Jan. 1
148,600 j Surplus
1,250.000
596,614
3,374,543iGeneral mortgage
1.587,0331
|
28,808,486 24.185,4491
Total
—V. 84, p.
Southern New England
DEC. 31.
1905.
1906.
I
$
$
j Liabilities—
17,401,132 14,028.989!Capital stock
.4 ssets—
Plant
566,51I
(Report for Fiscal Year ending Dec. 31 190(3.)
Telephone £ Telt giapli Co. on Dec. 31 190i>
owned 33.18% of the capital slock.
President Morris F. Tyler, writing in January last, said
in
414,495
3,997,828
;28,808,486 24,185,449
Total
Pennsylvania Telephone & Telegraph Co.
(Report for Year ended Dec. 31 190l>.)
The report, s'gned by President U. N. Betliell under date
of Elmyia, N. Y., Feb. 14 1907, shows:
Total
Operated by
Operahd by
this Company. Sub Licensees.
Stilions.
27,7)64
20,280
7.284
24,046
32,514
8,468
Additions to construction account. 8446,4 12, viz.: Real estate, 827,297
underground plant, $74,519; aerial plant, $266,980; equipment, $77,617.
RES UL TS FOR CA LEND AR 1 EA RS.
Station Statement—
Jan. 1 lOOC.l
Dec. 31 1906
Expenses—
1906.
I
Revenue—
1905.
General and taxes$
Exchange service.$395,536]
Toll line service.. 196,029 >$568,481 Proeur’g fc hand¬
ling traffic
Real estate
8,7301
Maint. & recoilst*n
Miscellaneous
36,651]
Instrument rental
m
Total revenue..$636,946 $568,481 Miscellaneous
Total
179,220|
138,800 $452,956
27,0251
28,362'
..$135,577 $115,524
charges
124,615
c
part;
v
The year 1906 has been one of great activity.
We had on Jan.
41.829 stations; on Dec. 31, 52.476 stations.
This, a net increase of
1 190(>
10,647
stations, has involved the expenditure of $1,484,145, the setting of 33,138
poles, the running of 11,150 n.lies of open wire and 153 miles of cable, under¬
ground.
Our total wire mileage In the State. Ineluding wires in cables,
is 141,624 miles, which is nearly twice what we had at the beginning of the
year,
lids increase is largely due to the fact, that we have been obliged
build for the future, and consequently we
The result is that to-day we have 1 in 19
to
equipped with telephone service of some
General
102.277
GENERAL BALANCE SHEET
1906.
1906 we received an average rental of $28.08 per station
service, while our average total expense per station was
balance Is needed to meet the expenses and provide for-the
dividends on the plant Investment must come from our toli-line earnings,
which for the year 1906 amounted to $9 53 pe» station.
EARNINGS. EXPENSES AND
820
785
688
8.S67
7,157
6,149
1,135,859
.807.658
375,243
6,393
10,115
963,239
304,526
6,504
13,322
,533,611
1.287,591
1,008,289
651,356
77,319
87,738
10,148
240,171
312,592
574,169
6 1,930
4.8,820
15,429
183,401
268,GO 1
481,599
54 ,352
54,786
4,789
1,477,628
1,250 1 1 1
1.047,529
897,226
277,500
—
321,515
307,500
240,062
240,000
201.063
1.87,050
14,015
62
—
14,013
underground service.
10,485
_
Supply department.
Stocks and bonds
Real estate
Bills & aeets. receiv.
Cash on hand&In bk.
—V.
445,280
180,491
166,055
133,9881
16,874/
I Liabilities—
(Capital stock..
p.
1905.
$
$
1,000,000 1,000,000
42,172
53,134
[Surplus
114,282jBonded debt
929,500
138,75Sj Reserves
153,5741
4,671,026 4,003,076
Total..
511.
6 4 09
19,173
Telephone & Telegraph Co., San Francisco.
Dec. 31 190(h)
organized at the beginning of 1907, as
(Report for Fiscal Year ending
This company was
from a letter of Pr< sident Scott.
earnings of the constituent properties for
earthquake and fire took place in April
190(3) and the balance sheet of the new company on Jan. 2
The American Tele phone <fc Telegraph Co. on Dec. 31
1907.
1905 owned 50.10% of the capital stock of the old Pacific
States Telephone & Telegraph Co., and presumably owns at
least as large an interest in the new company.
Pres. Henry T. Scott, San Francisco, Jan. 4 1907 wrote:
387,458
.
..
—
31 1906.—Ed.) under the laws of
of $50,000,000, divided Into $32,000,000 preferred and $18,000,001) common stock (par of shares, $100
each.— pd.).
Of this amount, It Is proposed to Issue at present $18.000,000 common and $18,000,000 preferred stcck, of which $17,000,000
common and $17,000,000 preferred Is to be Issued in exchange for the out¬
standing stock of the Pacific States TeUphone & Telegraph Co. (V. 83, p.
1416), and $1,000,000 common and $1,000,000 preferred stock issued for
additional working capital.
This will leave a balance of $14,000,000 pre¬
ferred stock unissued In the treasury.
The company owns the entire plant
and real estate formerly belonging to the Pacific States Teh phone & Tele¬
graph Co. In the city and county of San Francisco.
It also owns a majority
of the capital stock of that company and expects to acquire the balance
outstanding through the Issuance of Its preferred and common shares re¬
served for that purpose. -The company fs operating under lease the prop¬
erties of.the Pacific States Telephone & Telegraph Co. in Washington and
Oregon, and the properties of the Sunset Telephone & Telegraph Co. In
California and Washington.
The company has a total authorized
and collateral trust” 5% gold bonds,
issue of $35,000,000 “first mortgage
of which there are to be Issued to
provide for present requirements $10,000,000.
(See bond offering, &c.,
in V. 84. p. 163, 1185; also see V. 83. p. 1416.)
[In 1907 the shareholders were invited to subscribe for new stock on the
basis of one share of preferred and one share of common for each 25 shares
of preferred In their names on the books of the company on April 1
1907.
on the payment of $100 for one share of common and one share of prefer¬
red, to be paid for and Issued on June 1 1907.—Ed.]
OPERATIONS AND FISCAL RESULTS
1905.
Subscribers (No.).
242.088
Exeh.ges <fe offices
Miles of long-dis¬
tance circuits
5
FOR CONSTITUENT PROPERTIES
1906.
1905.
1906.
I
258.416 j mExpenses
1,832 |General ac
f
944,153
(Operating
j
| 2,163,884
29,617 ! Maintenance
>.5.927.0541 2,266,667
$•
| Instrument rental. |
■(
391,808
5.652,6051 Miscellaneous
interest
Exchange service. ]
h7.6S7,523( 1.823,5321
255.4181
....J
l
Total
Net earnings
Dividend (old
7.687.523
.}
and |
.J
l
500,475
'
5.927,054
1,760,469
Total
7.731.6151
-
Pacific States telephone & Telegraph Co.)...
Balance, surplus
$
$
-
for year
Dividends In 1906 represent one quarter at
passed and two quarters at the rate of 5 %.
(?)
6,266,992
1,464,623
(4’4%)704,566
(?)
760.057
rate of 7%: one quarter was
Telegraph Co. (ncic co.) Jan. 2 1907.
Liabilities—
$
27,399.1911Prefer/ed stock
18.000,000
BALANCE SHEET o] Pacific Telephone d$
Assets—
Plant
Real estate
Supplies
I
1,814.51 >6.Common stock
-..
650,2v11 Bonded debt
400,500 ; Reserve accounts
833,486iBills and accounts payable
Sinking fund (Sunset bonds)..
Bills and accounts receivable.
Stocks and bonds
.10,603,9951
Cash
121,0021
18,000,000
3.000,0U0
164,566
8,658,405
1
Total
T otal exp.
Total
47.822,971
real est., $5.523,082.—V. 84, p. 1185, 163.
47,822.9711
during year on plant and
.
277,500
S
$
267 249
6,549
16,833
150,362
236,488
396,509
46 139
65,506
2,223
BALANCE SHEET DEC. 31
1906.
1905.
Assits—
$
$
Franchise
Construction
113.124
6.794.713
..
Supply dcp’tm’t
Real estate
446,070
451,371
64,950
200,552
Total...
—Vr. 84, p.
J 906.
|
Liabilities—
1905.
$
*
113,124 |Capital stock...5,500,000 5,000,000
82,809
96,824
5,370,946 I Surplus
790,500
790,500
335,829 1 Bonded debt..
303,127
5,181
390,893 | Reserves
64.950 I Pills and nce’ts
payable
1,481,017 581,659
143,297
100 689
Cash...
41,011
8,171,469 6,460,149|
Total.
8,171,408 0,400,149
275,
GENERAL INVESTMENT NEWS.
Below are given the
1905 and 190(3 (the
Toll
Miscellaneous
(6 %)
Carried to surplus.
stated in the following extract
This company was organized (I)cc
California, with an authorized capital
1
263,609
expenses.
Operating
bonds.
Stocks
Acc’ts receivable
Pacific
323,090
449,571
1,799,143
940,500
1,656.251
164,428 364,152
145,850 ( Bills & aeets. pay’bk*2,523,964
...4,671,026 4,003,076!
84,
1906.
$
$
1
Expenses—
Net revenue..
Dividends paid
26,619
33,208
Earnings —
Exchangr service
Toll set vice.
Real estate.
P. L. & mlseeli. service.
Maintenance
Rental and royalty..
Interest
Miscellaneous
1903.
1 904.
1,829
4
52,476
1 ,021
Stations, all classes (No.)
Toll stations
Stations with .complete
General
DIVIDENDS.
1905.
1906.
Total expenses
DECEMBER 31.
|
1905.
$
Assets—8
Construction
..3,694.726]
Office furniture, &c.
33,612/3,450,611
Total.
$13,247
$10,962
kind.
For the year
from exchange
What
$31 34.
.
Net earnings
have a great deal ol dead plant.
of the Inhabitants of the State
Superintendent H. H. Sykes says:
Total earnings
expenses.$501,369 $452,956
Operating profit..
Interest
1905.
1906.
127,9621
Telephone Co.
The American
752. 452.
New York &
1487
UHE CHRONICLE
1907.]
RAILROADS, INCLUDING STREET ROADS.
Alabama & Vicksburg
Ry.—Presidency of Queen & Crescent
Lines.—We learn that while C. C. Harvey lias mentioned to
his friends that it is h‘s intention to res gn from the presi¬
dency of these lines in the near future, he has not as yet
presented his resignation.—V. 84, p. 13C5.
Boston Elevated Ry.—New Bonds.—The Massachusetts
Ra lioad Commission has approved the issue of the $5,-v00,000 30-year 5% bonds covered by the company’s applica¬
tion of April last.
Compare V. 84, p. 930, 1051.
Boston & Providence RR.—Act Authorizing Purchase By
Old Colony Railroad.—Governor
the bill authorizing the purchase
chises of the
Boston <fc
I0V
Colony RR. on the following
Guild on June 17 s’gned
of the property and fran¬
dence RR. by the Old
conditions:
agreed to by
the Railroad
Commission, and by votes of the shareholders, provided, however, that the
vote of the selling corporation shall be a vote of two-thirds of Interest of all
shareholders, and upon such purchase the purchaser shall be held to pay all
debt and to perform all the duties and obligations of the seller, and pro¬
vided further that such terms shall be approved by the Railroad Commis¬
sion ant' sh ill not be operative until assented to by the General Court.—
The Old Colony may purchase upon such terms as rnay be
the directors of the respective companies and approved by
V. 78. p
201).
Oentnl New England Ry.—Merger Probable.—See
York New Haven & Hartford RR. below.—V. 84, p.
New
1427 r
693.
Chesapeake & Ohio Ry.—New Directors in Place
of New
York Central Representatives.—It was announced this week
that William H. Newman, President of the New York
Central & Hudson River RR., and Chauncey M. Depew,
also a director of the latter, have rcs’gned, and that Thomas
P. Fowler, President of the New Yoik Ontario & Western,
and Walter G. Oakman have been elected as their successors.
representative of the New Yoik Central interests,
remains on the board. The changes, it
is understood, are due to the fact that the New York Central,
which on Jan. 1 1907 owned $5,000,000 of the C. & O. stock,
lias sold a considerable part of its holdings.
New Financial Plan.—The directois, it is understood,
have under consideration a plan to provide for new capital
required and to retire underlying bonds. The plan, it is
stated, contemplahs the authorization of a new mortgage
for an amount variously reported as $25,000,000 to $75,000,000. It is not expected that any of the bonds will be
sold at present, but that part of the issue will be deposited
as collateral for short-term
notes, possibly $5,000,000 to
$10,000 000 in amount, to be sold.to finance the immediate
Only
one
H. McK. Twombly,
1488
THE CHRONICLE
requirements of the road and to carry on construction work
under way, consisting largely of double-tracking and
elimination of grades.—V. 84, p. 1427, 1365.
Chicago & Alton RR.—Alternate Management Abandoned.
—The agreement entered into in 1904 between the Rock
Island and the Union Pacific interests for alternating man¬
agement each year has been abrogated. The C. R. I. & P.
owns $14,320,000 common and $4,470,000 preferred stock,
and therefore holds a preponderating interest.
The Union
Pacific owns $10,343,100 preferred stock.
The total stock
issued is $19,542,800 common and $19,544,000 preferred.
The termination of the agreement for joint control re¬
leases the stock deposited in trust with the Central Trust Co.
—V. 84, p. 1365, 809.
Chicago City Ry.—Notes Called.—The $3,000,000 5%
3-year notes due in 1908 have been called for redemption at
101 and interest on July 1.
New Bond Issue.—Chicago papers says that the directors
have authorized an issue of $10,000,000 first mortgage 5%
20-year gold bonds, of which $6,000,000 has been sold to the
First Trust & Savings Bank and the Harris Trust & Savings
Bank, both of Chicago, at a price believed to be 95 to provide
for the payment of the aforesaid notes and for the work of
rehabilitation.
Of the amount sold, $4,000,000, it is said,
will be issued July 1, $1,000,000 Aug. 1 and $1,000,000
Sept. 1. The remaining $4,000,000 of the authorized issue
will be sold later as the work of improving and re-equipping
the property proceeds.—V. 84, p. 1365, 930.
Chicago Junction Ry.—Reported Lease.—See Chicago
Junction Railways & Union Stock Yards under “Industrials”
below.—V. 80, p. 711.
Chicago Junction Railways & Union Stock Yards Co.—
Reported Lease of Controlled Road.—Chicago advices quote
President Spoor of the Chicago Junction Ry., whose stock
is all owned, as saying that the Vanderbilt interests have
arranged to lease the road for a term of years, with an option
of purchase.
Supplementing this, it is reported, it has also
been arranged to lease a part of the tracks of the Chicago
now
Terminal Transfer Co.
Officials of the New York Central
in this city yesterday declined to confirm the correctness of
the report, stating that the matter had not been consum¬
mated.—V. 84, p. 1113, 446.
Cincinnati Newport & Covington Light & Traction Co.—
Lease.—See Columbia Gas & Electric Co. under “Industrials”
below.—V. 84, p. 1366, 930.
Des Moines & Fort
Dodge RR.—Report.—For the
year
ending Dec. 31:
Gross
earn’gs.
$591,022
475,070
Cal.
Year.
1906
1905
There
Other
Net
Interest
income,
536,506
39,002
eam'gs.
& taxes.
$264,604
$173,692
161,064
207,018
5%div.on
Bal.,
Pref.
surplus.
$38,175
$52,737
38,175
7,779
also
expended for additions and improvements
$65,073 in 1906, against $57,384 in 1905.—V. 82, p. 1322.
was
Eastern Ohio Traction Co.—Receiver's Sale June 25.—
This company’s property, it is announced, will be offered
by Receiver Beatty at his office in the Electric
Building, Cleveland, on June 25, subject to the following
divisional bonds and the accrued interest thereon: $200,000
Cleveland & Chagrin Falls first mortgage 0s and $1,000,000
Cleveland & Eastern first mortgage 5s.
at auction
The property will be first offered as a whole;
upset price, $308,500.
If not so sold, It will be offered In parcels subject to the aforesaid dlvl
slonal bonds, as follows: Cleveland & Chagrin Falls Div. upset price $106,-
000; Cleveland & Eastern line, upset price $50,000;
rettsvllle line, upset price $152,500.—V. 82, p. 1379.
Chagrin Falls & Gar-
Erie RR.—Car Trust.—Car trust agreement, series J.,
filed for record on June 10, the parties to it being the
Standard Steel Star Co., as builders of the freight cars in¬
cluded in the trust, the Bankers’ Trust Co. as trustee and
the railroad company as lessee.
The agreement secures
an issue of $950,000 4% equipment gold bonds dated Nov.
1 1906 and due in twenty semi-annual installments of about
was
$47,000 each to and including Nov. 1 1916.
Loan for Genesee River Line.—The Genesee River RR. Co.
has negotiated a loan of $2,000,000 secured by its bonds
(V. 84,
1366) to cover the estimated cost of the proposed
(V. 81, p. 777.) The loan is a private transaction,
involving, we are informed, the placing of no additional
notes or other securities on the market.—V. 84, p. 1366, 1247.
p.
cut-off.
New York Central & Hudson River RR.—C. & O. Stock
[VOL.
LXXXIV
look out for the interests of the minority stock and
in any merger proceedings.—V. 84, p. 1428, 1424.
New York Ontario & Western Ry.—Bonds Sold.—The
has sold $1,300,000 general'mortgage 4% bonds
provide for improvements and additional equipment.
The new bonds are a part of the $1,948,000 recently author¬
ized to be issued by the New York Railroad Commission,
and increase the amount outstanding to $3,300,000.
Com¬
pare V. 84, p. 1428, 932.
Northern Ohio Traction & Light Oo.—Application to List. —
The New York Stock Exchange has been requested to list
company
to
the
company’s $7,938,000 capital stock.—V. 84, p. 1248, 337.
Marquette RR.—Reorganization Plan.—To clean up
all floating debt and provide Tor equipment payments due
this year, $5,000,000 is necessary. It is proposed to raise
this by an issue of $5,000,000 6% 5-year notes at par, and it
is expected that these will be taken by the present holders of
the preferred stock.
To preferred stockholders thus sub¬
scribing a new first preferred stock will be given share for
share in exchange for their present stock, plus 15%, which is
supposed to represent the dividends that they have lost.
The new preferred will have preference both as to assets and
earnings, and will be cumulative after 3^ years. c The right
Pere
will also be afforded to common stockholders to subscribe
for the 6% notes to the extent of 20% of present holdings,
receiving in exchange 100% of new common, and as a bonus
an amount of new common equal to the par value of the
debentures subscribed for.
Preferred stockholders who do not subscribe to the notes
will receive share for share the new second preferred stock,
and the common likewise will receive share for share in new
common.
These new securities will be issued by the new Pere Mar¬
quette company, which will take over all the assets and as¬
sume all the liabilities of the present company.
A director of the company makes the following statement:
1.
The road Is earning a comfortable surplus over fixed charges.
This
result was obtained under the receivership and should be increased when
the road Is out of receiver’s hands.
2. The proposition is favorable to the stockholders, as, when out of
receiver’s hands, the road should be able to earn dividends.
3. The plan is favorable to the bondhoUL.j on account of the additional
money
put in behind the bonds.
4. This reorganization is a distinct advance toward the adjustment of tho
C. H. & D. note situation, which Is the n.ext matter scheduled for settle¬
ment.—V. 84, p. 1368, 868.
Philadelphia Rapid Transit Co.—Franchise Ordinance—
Select and Common Councils, Thursday, after much
opposition, approved the ordinance giv'ng the company a
franchise to operate surface lines.
Compare editorial in
V. 84, p. 1084, 1085; V. 84, p. 1248.
Assessment.—Press reports from Philadelphia state there
will be a call of $5 per share on July 1, another $5 call
in January 1908 and again in July, making the stock full paid.
(Compare V. 84, p. 868.)—V. 84, p. 1248, 1114.
The
St. Louis & San Francisco RR.—New Stock and Bonds.—
The stockholders will vote Aug. 27 on authorizing the fol¬
lowing securities: (1) An issue of “general lien 15-20-year
gold bonds,” limited to $115,000,000 at any one time out¬
standing and to bear interest at not exceeding 5% per an¬
num, to be payable May 1 1927, free from all taxes which the
company may be required to pay under any present or future
law of the United States, or of any state, county or munici¬
pality therein, and secured by a new mortgage on all
railroads and interests in railroads, equipment and fran¬
chises and property now owned or hereafter acquired.
(2) An increase of the authorized issue of capital stock
for $100,000,000, to $200,000,000 (such increase to be wholly
common stock), to comply with the laws of the State of Mis¬
souri respecting the relative amounts of stock and indebted¬
ness.
A circular dated June 18 says
in substance:
Description of New Bonds.
“General lien 15-20-year gold bonds,” date of maturity May 1 1927,
redeemable at option of company on any interest date prior to May 1 1922
at 102H and Interest, and also redeemable on May 1 1922, or any interest
date subsequent thereto, at par and Interest.
Bate of Interest not to
exceed
5%.
Purposes for which the $115,000,000 New Bonds are to be Issued.
To be Issued forthwith, the proceeds to be used only for re¬
imbursement for capital expenditures made during the current
fiscal year, and for future additions, improvements and bet¬
terments to the property covered by this mortgage
$10,000,000
Reserved to be used only for retiring, taking up or acquiring
at or before maturity the following bonds and notes (see
below—Ed.)
-
62,816,000
-
Holdings Reduced.—See Chesapeake & Ohio Ry. above.
Agreement as to Tracks of Chicago Junction Ry.—See Chi¬
cago Junction Railways & Union Stock Yards Co. under
“Industrials” below.—V. 84, p. 1428, 1308.
Reserved to be Issued from time to time in aid of the above
refunding operations
Reserved to be Issued from time to time after June 1 1909, as
the company shall thereafter pay Installments of equipment
trusts that may be issued after the date of the new mortgage,
New York New Haven A Hartford RR.—Merger of Sub¬
sidiaries.—See Boston & Providence RR., above.
Reserved to be Issued after June 1 1909 for the cash cost of
future Improvements and betterments, but not exceeding in
any year the rate of $500 face amount of bonds for each mile
of railroad at the time owned by the company, or controlled
by lease or other arrangement for control extending for a
period beyond the term of the new mortgage. No bonds
under this clause to be issued at a rate exceeding $2,500,000
Absorption of Central New England Ry. Probable.—Advices
steps will shortly be taken to
merge with the company the Central New England Ry.,
control of which was acquired in 1904, the company on June
30 1906 owning $2,963,300 of the $3,450,000 common stock
$2,696,100 of the $3,150,000 preferred stock and $5,904,000
of the $7,250,000 general mortgage 5% income bonds.
The
company is stated to be offering 72^ cash for the outstand¬
ing general incomes and to have in contemplation the ex¬
change of the issue for its own 3% fixed interest bonds,
having the same security, etc., as the present general in¬
comes.
T. C. Delavan, of Cummings & Co., 20 Broad St.,
New York, is at the head of a committee which proposes to
from New Haven state that
incomes
-
but
o"’y for 60 % of the face amount of such payments
5,000,000
5,000.000
in any one year until and including the year 1911, and thereafter not exceeding $3,000,000 in any one year
(The congestion of traffic on all the railways of the country,
due largely to lack of adequate facilities, Is matter of common
27,184,000
knowledge. The wisdom of making ample provision for
Improvements to your property, including additional shops
ana terminals, must be apparent to all stockholders.)
Reserved to be Issued after June 1 1909 at the rate of not ex¬
ceeding $1,000,000 per year, an the company shall furnish to
the trustee certificates stating that it
has, subsequent
to the date of the new mortgage expended an amount of cash
equal to the then market value of the new bonds so issued for
the construction, purchase or acquisition of additional lines
of railway or branches, on which this mortgage will be a
first lien
-
5.000.000
June 22
Bonds
and
Notes to Retire
Which the Aforesaid $62,816,000 Neic Bonds
Are Reserved.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
$7,125,000 St. Louis & Sau Francisco RR. Co. 5-year
% notes
(St. L. San Fran. & N. O. RR. collateral), maturing1 Dec. 1 1908;
St.
Louis & San Francisco RR. Co. 2 33-year 5% notes (St.
$6,500,000
L. Memphis & Southeast. RR. Co. collateral), maturing June 1 1909;
$15,632,000 St. Louis Memphis & Southeastern RR. Co. 5-year 4 33 %
bonds, maturing June 1 1909;
$397,000 St. Louis Memphis & Southeastern RR. Co. first mortgage
4% bonds, maturing Jan. 1 1952;
$7,500,000 St. Louis & San Francisco RR. Co. 5-year 5% notes (Colo¬
rado So., New Oil. & Pac. RR. Co. collat.), maturing Jan. 1 1911;
$424,000 Orange & Northwestern RR. Co. first mortgage 5% 30-year
gold bonds, maturing Sept. 15 1933;
$170,000 Beaumont Sour Lake & Western Ry. Co. first mortgage 6%
gold bonds, maturing July 1 1935;
$4,500,000 St. Louis & San Francisco RR. 7-year 433 % notes (Arkansas
Valley & Western Ry. Co. collateral), maturing Feb. 1 1912;
$2,880,000 Ozark & Cherokee Central Ry. first mortgage 5 % bonds,
maturing Oct. 1 1913;
$100,000 Muskogee City Bridge Co. 1st M. 5 % bonds, maturing July 1
1942.
(The above Issues are secured by first liens upon 1,526.45 miles ol
now part of the Frisco lines, and upon their payment or ac¬
quisition the new mortgage will become a first lien thereon.)
11. $5,649,600 St. Louis & San Francisco refunding 4s of 1951, to be Issued
during the term of the new mortgage as follows;
(a) $4,000,000
Issuable at a rate not exceeding $1,000,000 per annum against actual
cost of additions and improvements: (6) $972,600 issuable against
new mileage; (c)
$677,000 issuable against the payment of certain
underlying securities.
railroad
$10,338,616 St. Louis & San Francisco RR. Co. equipment trust notes,
maturing In series until 1917;
13. $1,600,000 Colorado Southern New Orleans & Pacific RR Co. equip¬
ment trust notes, maturing In series until 1917.
By the payment of these equipment notes the new mortgage will become
a first lien on equipment costing originally $18,499,792.
Position of New Mortgage.
The new mortgage will be a first lieu
n—
ul) Ail property ooastruotea or ao A ulred through the proceeds
of the bonds:
Miles.
r acquisition of bonds and
lines ol railway, on payment
notes as above
1,526.45
it will also be a lien, suoject to exisc ng mortgages, on the com¬
pany's Interest in lines owned .v the company, or leased or
controlled by stock ownership, aggregating—
3,798.19
12.
Total mileage
5,324.64
Your dlreetois Delieve that, by thus making provision for these maturing
obligations and for a part of future necessary expenditures for Improve¬
ments and additions, tin* company will sooner be enabled to distribute to
the stockholders that proportion of the net earnings of the property to
which In the exercise of a conservative policy they will become entitled.
The territory traversed by your lines of railway Is rapidly developing.
The building of branches and extensions from time to time will be necessary
to meet the demands of the growing commerce of those sections, and to
protect the position of your property.—V. 84, p. 1429, 750.
Philadelphia Baltimore & Washington RR.—Merger Re¬
port Denied.—Regarding the report that the meeting called
for July 30 to authorize an increase of indebtedness foreshad¬
consolidation with the subsidiary lines, an officer of
the company writes:
“There is no truth whatever in the
report.”—Y. 84, p. 1428.
Texas Central RR.—Case Dismissed.—About, a year ago
the Texas Railroad Commission attacked the legality of the
issue of the first mortgage bonds of the Texas Central RR.
Vice-President Charles Hamilton, under date of June
Co.
ows
a
12 1907,
writes
as
follows:
I wired on Monday about the Railroad
plaint against our company growing out of
which 1 confirmed by letter.
I am this
Commission
dismissing thejeom-
the alleged Illegal Issue of bonds,
morning In receipt of a formal
by the Secretary, to the effect
notice, signed by the full board and attested
that the case Is dismissed.—V. 83, p. 1038.
Texas & Pacific
Ry.—Bonds Sold.—The company has sold
Co. S3,100,000 of 5% equipment bonds and $450,000 Louisiana Division Branch Lines 5% bonds.
The equip¬
ment bonds are dated June 1 and mature in 20 equal install¬
ments of $155,000 each to June 1 1917.
They cover box
cars, passenger cars and locomotives recently purchased.—
which may be
V. 84, p. 094, 687, 509.
Union Pacific RR.—New Stock Authorized.—The share¬
holders on June 15, without opposition, approved the propo¬
sition to increase the authorized issue of common stock by
$100,000,000, to provide for the redemption of the new con¬
vertible bonds and for future improvements, &c.
The au¬
thorized stock as so increased includes:
Common stock,
$296,178,700, of which $195,479,900 is listed on the New
York Stock Exchange; and 4% non-cumulative preferred
stock, $200,000,000, outstanding $99,569,300. The votes
in favor of the increase were: Preferred, 642,927; common,
1,550,388; total, 2,193,315 shares. Of the new common
shares $42,857,143 will be set aside to provide for the con¬
version of the proposed issue of $75,000,000 convertible
20-year 4% bonds on the basis of par for the bonds and $175
See official statement in V. 84,
per share for the stock.
p. 1115, 1183, 1368.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Adams Express Co.—Distribution of Bonds to Shareholders.
—A circular signed by President Levi C. Weir, under date of
June 17, says in substance:
Pursuant to the Articles of Association, the board of managers have de¬
termined to reduce the amount of the capital of the association and the
reserved fund derived largely from Its investments, by transferring and
assigning bonds and stocks belonging to the association of the value of
$24,000,000 to a trustee to hold for the pro rata use and benefit of Its share¬
holders and their assigns, and to Issue to the shareholders distribution
bonds to represent their distributive share of said reduction and their re¬
spective Interests in the stocks and bonds so transferred and assigned, such
bonds to be known as “The Adams Express Co. collateral trust 4% distri¬
bution gold bonds of 1907,” and to be payable June 1 1947, with interest
from June 1 1907 at the rate of 4 % per annum, payable semi-annually on
the first days of June and December In each year, the first coupon being
payable Dec. 1 1907.
Bonds and stocks heretofore owned by the associa¬
tion sufficient In value to secure the payment of said distribution bonds
have accordingly been transferred to the Standard Trust Co. of New York
under a deed of trust dated June 17 1907, which provides, among other
things, that they shall be held by the trustee as security for the payment
of said bonds and the benefit of the bondholders.
The income derived from
said securities is more than sufficient to pay the Interest on the bonds.
Each shareholder of record at 3 p. m. June 27 1907 will be entitled to
receive $200 face value of said collateral trust distribution bonds for each
share standing in his name.
The bonds will be Issued In denominations of
$1,000 and $500, and scrip will be Issued for fractional amounts of bonds
combined for exchange for bonds of the face value of $500 or
The Treasurer,on or before Sept. 1 1907, will purchase from any
shareholder the scrip Issued to him representing amounts less than $500
at par for cash.
Pending the engraving of the bonds, temporary printed
bonds will be Issued. It is desirable that the Articles of Association be
amended as stated in the enclosed consent and proxy, which shareholders
$1,000.
requested to sign and promptly return to the Treasurer.
[This distribution Is generally supposed to have been called out by the
provision of the Hepburn amendment to the Inter-State Commerce Act,
bringing the express companies, as common carriers, under the surveillance
of the Inter-State Commerce Commission and requiring them to file annual
reports, showing their balance sheets, &e., for the years ending June 30
not later than Sept. 30.
See text of Act In “Railroad Gazette” of New
York for May 25 1906.]—V. 83, p. 40.
are
& Telegraph Co.—Syndicate Ex¬
which in Feb. 1906 agreed to pur¬
chase $100,000,000 convertible gold bonds has been ex¬
tended to July 1 1908, with the proviso that it may be
terminated at any earlier date.
Of the 30% of unpaid sub¬
scriptions on this issue, 10% is expected to be called for
shortly and the remaining 20% is payable one-half next
October and the remainder Jan. 1 1908.
Compare V. 82,
p. 394, 571, 699; V. 83, p. 438; V. 84, p. 105, 160, 273, 933.
Financial Requirements.—President Vail,in reply to an in¬
quiry from a stockholder regarding the financial require¬
ments of the company and its subsidiary, says:
American
Telephone
tended.—The syndicate
It Is now safe to state that, after providing for all the existing and antici¬
pated demands for the current year,
the American Telephone &
Telegraph Company will commence the year 1908 with no floating
debt and with a very substantial cash balance.
This docs not in any way
take Into account the money received for the share capital of the company
now being Issued, which will, under normal conditions, make It possible
for the company to go through to Jan. 1 1909 without further financing
of any kind.
Output.—The instrument output for May and the five
May 31 was as follows (each telephone being
two “instruments,” viz., one receiver and one transmitter):
months ending
May—
1906.
211,573
152,230
1905.
168,764
115,552
1904.
103,897
52,176
777.743
944,614
777,065
641,252
545,950
508,372
323,873
6,431,709
6,339,510
5,026,514
4,084,843
1907.
153,835
74,258
'
Gross output
Net output
Jan. 1 to May 31—
Gross output
Net output
Total outstanding May 31
305,326
Reports of Subsidiary Companies.—See “Annual Reports”
a
on
preceding page.—V. 84,
p.
1369, 1250.
Bethlehem Steel Co.—Guaranteed Notes.—See Bethlehem
Steel Corporation below.—V. 81, p. 1612.
Bethlehem Steel Corporation.—Sale of Guaranteed Notes.—
An issue of $2,500,000 6% serial notes of the Bethlehem Steel
Co., guaranteed as to principal and interest by the Bethlehem
Steel Corporation, has been sold.
The notes will be dated
July 1 1907 and mature one-fifth in three years, one-fifth in
four years and three-fifths in five years.
The issue will be
countersigned by the Morton Trust Co., New York. The
proceeds will be used to complete the extensions and im¬
provements by which the company will be made an import¬
ant factor in the general steel business and practically in¬
dependent of Government contracts.
middle of March last negotiated a personal
stock and bonds of the company, with other
collateral.
Participations In the loan were oITcrcd among note-brokers at
a 6 % rate less 33 % commission. The loan was a private matter, the companybeing in no way Interested, 4*nd was made, It Is supposed, to provide casn
for syndicate operations In which Mr. Schwab was Interested and for the
acquisition of mining properties recently purchased.—V. 84, p. 1110, 933.
President Schwab about the
loan for $2,000,000, secured by
to Blair &
1489
THE CHRONICLE
1907.]
Boise-Payette River Electric Power Co.—Amalgamation.—
See
Idaho-Oregon Light & Bower Co. below.—V. 77,
p.
2099, 2160, 2282, 2341.
Butte Coalition Mining Co.—New Officer.—J. W. Allen
Secretary and Treasurer in place of James
O’Grady, who retires on account of ill-health.—V. 84,
p. 1369, 451.
has been elected
Columbia Gas & Electric Co.—Lease.—The shareholders
of this West Virginia corporation voted on June 18 to ratify
the contract with the Cincinnati Newport & Covington Light
& Traction Co., by which that company’s property is leased
for 90 years from April 1 1907 to The Columbia Gas & Elec¬
tric Co., incorporated under the laws of Ohio, the capital
stock of which is all owned by the Columbia Gas & Electric
Co. of West Va.
The lease is made on the following basis:
The lessee, company
4W % dividend on the
guarantees Interest on all outstanding bonds, the
preferred stock ($4,264,000 outstanding: $5,000,000
authorized) and dividends on the $5,000,000 common stock as follows: 3%
for the first year, 3 33 % for the second, 4% for the third, 433 % for the
fourth, 5% for the fifth, 5 33 % for the sixth and 6% for the seventh
and each year thereafter.
All dividends are to be paid quarterly. The
first dividend on the common stock will be paid on July 15 1907.
The
Columbia Company has deposited In banks approved by the
Cincinnati
Newport & Covington Co. $1,250,000 as a guaranty that the terms of the
lease will be faithfully executed.
Of this amount $1,000,000 Is to be spent
on Improvements to the property subject to approval of the directors of
the C. N. & C. L. & T. Co.
Holders of stock and bonds of the C. N. & C. had until June 15 the right
to subscribe at 90 for bonds of the Columbia to an amount equal to 50 % of
their respective holdings, receiving as bonus an equal amount of stock of
the Columbia Gas & Electric Co.
Bonds, &c.—The directors on June 13 authorized the issue
$6,500,000 of the company’s bonds for the purpose of
building pipe lines from the West Virginia fields to Coving¬
of
ton, Ky., Cincinnati
and other cities of Ohio.
The circular issued to the shareholders of the Cincinnati
Newport & Covington Light & Traction Co. states that the
$25,000,000 bond issue of the Columbia Gas & Electric Co.
is for the following purposes:
$9,000,000 for purchase of Cleveland gas properties; $6,000,000 to build
pipe line to Cleveland; $6,500,000 to build pipe line to Cincinnati; $1,000,000
acquire gas fields in West Virginia, and $2,500,000 for guaranty fund
to
and future development purposes.
At the aforesaid meeting the directors also ratified the
franchise agreement with the City of Hamilton, Ohio.—
V. 84, p. 1184, 1055.
Crucible Steel Co. of America, Pittsburgh,
—For the nine months ending May 31 1907:
Pa.—Earnings.
[VOL. LXXXIV.
THE CHRONICLE
1490
Total net earnings, after dcdueting all expenditures for repairs,
interest on bonds, mortgages, &c
.$2,022,180
Less amount set aside as reserve for contingencies
40,444
Three quarterly dividends on $24,436,500 7% cumulative pre¬
ferred stock, Nos. 17, 18 and 19, 1 Yi % each, paid Nov. 30 1906
and Feb. 28 and May 31 1907
(4^ %)1.099,643
Surplus for the quarter.
The statement is based on Inventory values as of Aug. 31
finished material.
Raw and process material is valued at cost
1907.—V. 84, p. 696.
$882,093
1906 for all
as of May 31
tract become generally known.
thorized to enter Into contracts,
The municipalities which have been au¬
and the amount of power they ask to
be
supplied with, are as follows:
Toronto, 15.000 horse-power; Toronto Junction, 4,000; London, 6 000;
Guelph, 2,000; Galt, 1,200; Woodstock, 1,200; Ingersoll, 1,200; Stratford,
2,500; St. Mary’s, 750; Preston, 500; Berlin, 1,000; Waterloo, 700; Hespeler;
300; Brantford, 2,500.
St. Thomas and Paris also have voted for 1,200 to
1,500 horse power each.—V. 84. p. 224; V. 82, p. 395, 632.
Randolph-Macon Coal Co.—Protective Measures.—A bond¬
Frederick H. Ecker, Chair¬
man; Win. A. Read, Willard E. Edminster, George S. Coe,
all of New York, and Francis R. Cooley, Hartford, Conn.,
notifies all holders of first mortgage 5s who desire to become
parties to the protective agreement to deposit their bonds
on or before June 27 1907 with the Central Trust Co. of New
York, 54 Wall St., New York. Holders of more than $1,390,000 of bonds have already deposited them. See circular
obtainable from Trust Company and compare V. 84, p. 935,
holders’ committee consisting of
Co., Boise, &c.—Amalga¬
Offered.—MacDonald, McCoy <fc. Co., 181
La Salle Street, Chicago, are offering at par and interest,
on another page of this issue of the “Chronicle,” the pres¬
ent issue of $500,000 “first and refunding 6% gold bonds”
of $1,000 each (c*), dated April 1 1907 and due in annual
installments on
April 1, $25f000 yearly 1915 to 1917,
$50,000 yearly 1918 to 1922, $75,000 yearly 1923 and 342.
1924 and $25,000 in 1925; but subject to call on April 1 1915,
United Gas Improvement Co., Philadelphia.—Lease of
or on any interest date thereafter, at 105 and interest until
and including Oct. 1 1926; on April 1 1927, or any interest Philadelphia Gas Plant to Continue.—On June 20 the Phila¬
date thereafter, at 102^2 and interest, until and including delphia City Councils by votes of 33 to 8 in Select Council
Oct. 1 1936, and on April 1 1937 or any interest date there¬ and 54 to 33 in the Common Chamber, killed the ordinances
after, at par and interest. Interest payable Oct. 1 and which provided for serving notice on the company that it
April 1 at State Bank of Chicago, trustee. Available popu¬ was the city’s intention to. terminate the present lease on
Dec. 31 next, and directing Mayor Reyburn to advertise for
lation, estimated, 60,000. A circular says:
bids for the remaining 20 years of the lease.
Compare
Capitalization: Preferred stock outstanding, $595,000; common stock
outstanding, $3,800,000.
V. 84, p. 1373, 1311.
Authorized Issue of $7,000,000 “First and Refunding Gold Bonds."
United Shoe Machinery Corporation.—Report.—See “An¬
In the hands of trustee to retire $540,000 bonds of acquired prop¬
erties (Ineludintr, we understand, $500,000 first 6s due Oct. 1
nual Reports” on a preceding page.
1921, of Boise-Payette River Electric Power Co., interest
Stock Distribution.—A circular gives the following particu¬
payable April 1 and Oct. 1 at Mercantile Trust Co., Boston;
also $40,000 of 6% bonds of Electric Power Co., Ltd.—Ed.)..
$550,000 lars regarding the stock dividend of 25% on common shares
In the hands of trustee to develop the Ox Bow water power, <Scc_ 2,000,000
Idaho-Oregon Light & Power
mation—Bonds
In the hands of trustee to purchase or acquire
and for additions, improvements, extensions,
other properties,
3,950,000
Outstanding
500,000
These bonds are a first mortgage on the Ox Bow power on the Snake
River, and stocks of the acquired companies, namely:
The Boise-Payette
River Electric Power Co., the Capital Electric Light, Motor & Gas Co. and
the Electric Power Co., Ltd., are deposited with the trustee as collateral
security.
Bonds numbered from 1 to 2,500 bear Interest at the rate of
6% per annum, and mature serially from 1915 to 1945.
The trust deed
provides that the remaining bonds, when Issued, shall bear Interest at the
rate of 5% per annum and shall mature in 1947.
Actual net earnings of the acquired properties, 1906.... —
$S5,520
&e
Estimated Annual Earnings on Completion of Certain Extensions.
Net earnings when Bolse-Welser extension Is completed (over
twice the Interest charge on all the bonds now outstanding)
$130,000
Net earnings of the Ox Bow plant when completed, estimated.. 282,000
Or
total estimated net earnings
of the combined plants, when ap ¬
announced last week.
meeting on June 14, resolved that, for the
of representing in the capitalization of the corporation existing sur¬
plus assets to the extent of $4,464,581, 178,583 \\ shares of its authorized,
unissued, common capital stock be issued and distributed as a dividend
pro rata among holders of common capital stock of the corporation of record
on Saturday, June 29, at 12 o’clock, In the ratio of 25 shares to each 100
shares of common capital stock then held by them.
Fractional scrip certlli-"
cates will be Issued, convertible Into certificates of common capital stock,
upon surrender at the American Trust Co., transfer agent, Boston, or its
agent, the Hanover National Bank of New York City, in sums amounting
to $25 or multiples thereof.
Certificates representing full shares and fractions thereof will be delivered
to each stockholder entitled thereto on July 15, or as soon thereafter as the
The board of directors, at a
purpose
prepared.—V. 84, p. 1433, 1372.
Western Union Telegraph Co.—Strike
certificates can be
Averted.—The
pro¬
Telegraphers’ Union against
proximately $3,000,000 bonds will be outstanding, of
$412,000
The above earnings are on a basis of disposing of practically half of the
this company, which threatened to involve the Postal Com¬
ultimate capacity of the plant.
Additional earnings may be expected as pany, was averted on June 20 when President Clowry wrote
the market develops, with only a nominal addition to the operating ex¬
a
posed strike of the Commercial
penses and to the fixed charges.
The company has acquired, by
the purchase of stock, control of the
Boise-Payette River Electric Power Co., Capital Electric Light, Motor &
Gas Co. and the Electric Power Co., Ltd., subplying light and power to the
city of Boise, Idaho, which companies have been In successful operation
for years' and by securing these properties the Idaho-Oregon Light & Power
Co. controls all the electric light and power business In the city of Boise.
It has also secured the electric light plant at Emmett, the electric light plant
at Meridian and the electric light plant and water works at Ontario, In Idaho.
The franchses run for more than 40 years.
There is now In operation 2,000
horse power adjacent to Boise, which Is Insufficient for Its present needs, and
the company has recently acquired and now owns the Ox Bow power prop¬
erty, located 60 miles below Welser, Idaho, on the Snake River, capable of
developing more than 18,000 minimum electrical horse power. The Snake
River nas a minimum flow as great as the present maximum flow of the Chi¬
cago Drainage Canal, or 300,000 cubic feet per minute.
Transmission lines, as planned, traverse Boise and Its adjacent suburb
n the Boise Valley; electric railroads In and about Boise, and extensive
mining operations; and there Is no competition except from power produced
by steam plants operated by coal In the territory above described.
Within
this district there Is now a market for one-lialf the energy that can be pro¬
duced by the waters of the Snake River at the Ox Bow durirg the months
of minimum flow; and judging the future of this country from the past,
developed under the most disheartening conditions, It should be only a
matter of a short time until the entire output of the plant could be utilized.
The conditions of the present and the possibilities of the future are most
promising.
These companies supply the city with Its entire lighting,
operate the street railroads, and the surplus power Is sold for manufacturing
and mining and pumping.
At the present time, the power has all been
sold, and the demand Is so great that It Is necessary to supply additional
power at once, not only for Boise, but for the towns down the Boise Valley,
Payette Valley and the Snake River Valley as far as Welser, Idaho, the
Boise combined companies having acquired, either by contract or purchase,
the power
and lighting market In the territory
above named.
No new
power can be profitably developed on the Snake River within reason¬
able distance of this market, all other rivers having such a small flow that
water
would be
small, Indeed.
power which might be developed by them
very
There Is, therefore, practically no competition.
[The company was Incorporated In Colorado on June 5
000 authorized capital stock, the Incorporators being Orlando
Horace G. Lunt, D. B. Ellis, L. B. Johnson, George A. H. Frazer,
1907 with $7,500,B. Wlllcox,
W. A.
Reef, Charles I. Hawthorne and J. C. Darling, all of Colorado Springs, but
Headquarters will be maintained
in association with Eastern capitalists.
In
Denver.—Ed.]
Ontario Power Co. of Niagara Falls, Ont.—Contract with
Outario Government.—Secretary R. C. Board, to whom
we submitted the following statement, pronounces the same
substantially correct, and says that the company already has
a
letter to C. P.
Neill, Commissioner of Labor at Washington,
stating the intention of the company to make
10% increase in wages granted March 1.—V.
universal the
84, p. 1434,
808.
—Booklet “D” issued by the Guaranty Trust Company
of New York entitled “How to Invest Money” contains valu¬
able suggestions relative to the various classes of investments
which should enable the reader to determine what particu¬
lar form of security is best adapted to his individual needs.
The comparative advantages of railroad bonds, real estate
railroad and public utility bonds and other
presented in a clear and concise
manner.
The ideal investment is defined as one which com¬
bines ample security of principal and interest, a good rate
of income, convertibility into cash and reasonable promise
of appreciation in value.
Measured by the requirements of
this definition, the conclusion seems justified that well se¬
lected railroad bonds, purchased under conditions such as
mortgages, street
forms of investments are
exist in the bond market
to-day, will be found the most
desirable form of investment.
A copy of the booklet may
be obtained upon request.
—The ninth annual edition of the “Directory of Directors
City of New York” has just come from the press. It
names of over 25,000 directors, each name be¬
ing followed, first, by the name of the firm or company with
which he is directly associated, and then by all the companies
in which he is a director.
Selected lists of corporations in
banking, insurance, transportation, manufacturing and
in the
contains the
other lines of buisness,
alphabetically arranged, accompanied
by the names of the company’s officers and
to be found in the appendix, as well as a list of
in each case
rectors, are
di¬
the
principal exchanges in New Yoik, with their officers and
managers.
The directory is published by the Audit Company
of New York, 43 Cedar Street, at five dollars a copy.
42,000 horse-power installed and operating. About a year
—Mr. J. E. Sterrett, C. P. A., of Philadelphia and New
ago two additional generators, for 12,000 horse-power each,
YTork,
has joined* the firm of Jones, Caesar, Dickinson, Wilwere ordered, and these will probably be installed between
mot
&
Co., the practice of which will hereafter be conducted
July and October of this year, giving the company a total of
66,000 horse-power. The head works are completed for the under the firm name of Dickinson, Wilmot & Sterrett, with
offices at 925 Chestnut St., Philadelphia, in addition to
full development of 200,000 horse-power (compare V. 80, p.
those hitherto maintained by the firm jointly with Price,
1427; V. 82, p. 395, 632).
Contract with Canadian Government.—The company has received notice
Waterhouse <fc Co. in New York, Chicago, St. Louis, Pitts¬
the Hydro-Electric Power Commission of Ontario (Canada), Hon.
burgh, San Francisco, Seattle, City of Mexico, Melbourne
Adam Beck, Chairman, that the Commission Intends to accept Its tender
rom
It provides
supply of power, and the contract is now being drawn.
sale of from 30,000 to 100,000 horse-power daily to the Ontario
Government.
A minimum amount of 8,000 horse-power is to be taken,
the Commission to have the right to increase this at any time to 30,000 on
giving 30 days’ notice, and to secure a still larger supply on notice.
The
contract is for 10 years, with the option of renewal for 40 years.
The
current Is to be alternating 3-phase 25-cycle, 60,000 volts at the transformer
for
for
a
a
station.
The Ontario
Government will sell this power to various Ontario mu¬
nicipalities at cost.
The power will cost the Government $10.40 per horse¬
power up to 25,000 horse j>ower at the transformer station at Niagara Falls,
Ont., where the Ontario Power Co. Is located.
Above 2 5,000 horse power,
the company will get a flat rate of $10 per horse power.
It is estimated that
the price of power to the municipalities will be from $16 to $24.
'Already fourteen different Ontario municipalities have made applica¬
tion for an aggregate of about 40.000 horse power, and this demand. It Is
expected, will be Increased largely Just as soon as the final details of the con
and London.
—H. P. Taylor & Co., 248 Fourth
issued a chart of the Pennsylvania
Avenue, Pittsburgh,have
RR. system, which they
have recently compiled, showing all of the main and subsid¬
iary lines East and West, and the manner in which they are
owned or controlled by the Penna. RR. Co.
—The Bond Buyers’ Dictionary, issued by S. A. Nelson &
Co., describes the various kinds of bonds with consideration
as to their merits and demerits, together with much other
matter germane to the subject, including the Savings Bank
Investment laws.
1491
CHRONICLE
THE
1907.]
June 22
and DommcixtSc
COMPANY.
THE NEW RIVER
REPORT TO
DIRECTORS’ FIRST
To the
Stockholders of the New
STOCKHOLDERS TO JANUARY 1 1907.
figures of 1906. But assuming
of the sub-companies for the
year 1907 will, with the $742,401 20 of undistributed profits and sub¬
scriptions and the $48,573 52 of notes and accounts receivable, exceed the
$952,474 86 of notes and accounts payable, the last of which do not mature
until May 1909.
But as this $952,474 86 represents new properties pur¬
chased, and is properly chargeable to capital account, It Is proposed, In
connection with a new Issue of stock referred to hereinafter, to take care
of such portion of It as Is necessary to leave future profits available for
pay
Hirer Company:
8091
formation In June
the New River
Company, and as much has taken place since that time of Interest to the
stockholders, there has been Incorporated In the following first''report of
the directors not merely a statement of the present condition of the Com¬
pany, but also a review of the manner In which the Company was brought
together and of what has been done and what Is proposed to be done In
has been made to the
As no report
1 905 of
the New River Fuel
the near future
In the
directors since the
Company, now absorbed by
Company’s Interest.
highly appreciative of the confidence which has been
shown by the over-subscription of the stock Issued In January and in August
1906 to cover, In part, the purchase of new properties acquired, and trust
that this report will be found to post the stockholders fully with reference
to all matters which would have been covered by earlier reports had they
distribution in
Your directors are
been made.
There are no
dividends.
bonded obligations outstanding on any
the Board of Directors.
JAMES W. SMILEY,
PRODUCTION AND EARNINGS.
output of the mines controlled by the New River Fuel Company since
organization, that Is, July 1 1905, and Its proportion of the net earnings
has been as follows:
The
Secretary.
COMPANY.
(Incorporated under the laws of West
August
September
CAPITAL STOCK.
$ 1S ,000,000
Common
$6,000,000
12,000,000
_
Issued and outstanding
October
November
Total.
December 31 1906:
Net earnings,
$4,639,000
9,279,500
Preferred, 6% cumulative
Common
14,143 60
24,089 30
24,849 67
528,328
$1,595,850(av) $84,377 14
at the rate of 10.56% per annum on stock Issued.
5.28 %, or
SIX MONTHS
ENDING JUNE 30 1906.
ORGANIZATION.
Month—1906—
Officers.
President and General
Manager, SAMUEL
DIXON, Macdonald, W. Va.
Vice-President, WILLIAM A. PAINE, Boston, Mass.
Second Vice-President, STILLMAN F. KELLEY, Boston, Mass.
Secretary and Treasurer, JAMES W. SMILEY, Alacdonald, W. Va.
Assistant Secretary and Treasurer, GEO. W. BUNTON, Boston, Mass.
General Superintendent, F. W. SCARBOROUGH. Macdonald, W. Va.
First
Macdonald, W. Va.
W.Scarborough, Macdonald, W. Va
Smiley, Macdonald, W. Va.
James W.
Junius Beebe, Boston,
Mass.
William M. Butler,
Scotland.
Wm. A. Paine,
March
May
109,640
151,700
June
147,255
April
Samuel Dixon.
James F. Shaw.
Edward S. Jones.
Phlneas W. Sprague
Louis A. IVatres.
N. Swreet.
Junius Beebe.
Henry
TRE RELATION OF
The New River
of the New River
THE NEW RIVER COMPANY
RIVER FUEL COMPANY.
TO THE NEW
Company Is a holding company, owning all of the
Fuel Company, acquired by exchange of one share
stock
of Its
preferred and two shares of its common stock for each share of New River
Fuel Company stock.
The statements herein contained are of the liabili¬
ties, properties and assets of the New River Fuel Company, constituting,
however, also the assets of the New River Company through Its ownership
of all the stock of the New River Fuel Company.
The New River Company
has no liabilities except Its outstanding stock.
$2,337,100
2,779,200
2,977,100
2,999,800
3,316,200
3,590,000
(av)$2,999,900
764.386
of 12.16 % per annum
Total.
Net earnin gs. 6.08
%, or at the rate
SIX MONTHS
Coal output.
Capital
Net
gross tons.
Issued.
Profits.
.123,293
$3,643,400
3,956,400
4,186,000
4,728,200
$28,319 31
38,675 09
34,495 52
39,036 32
44,923 04
35,220 78
$220,670 06
on the stock
July
154,094
150,065
August
September
152,760
142,379
..127,243
December
Total
5.06%,
Net earnings,
at
or
$35,253 22
19,155 63
32,725 04
31,450 61
33,762 55
30,022 63
$182,369 68
oh stock Issued.
ENDINGIDECEMBER 31 1906.
Month—1906—
November.
Chairman.
Profits.
103,701
133,241
October.
Executive Committee.
Net
Issued.
118,849
Mass.
Boston, Mass.
Phlneas W. Sprague, Boston,Mass.
Henry N. Sweet, Boston, Mass.
Arthur Dunn, Scranton, Pa.
Edward S. Jones, Scranton. Pa.
Louis A. Watres, Scranton, Pa.
Capital
gross tons.
February
James F. Shaw,
Burnham, Boston, Mass.
Boston, Mass.
F. Kelley, Boston, Mass.
Symington Macdonald, Glasgow,
Addison C.
Stillman
William A. Paine. Boston,
Coal output,
January
Directors.
Samuel Dixon,
1,370,000
1,843,500
2,337,100
90,918
90,585
88,071
.
December
$6,944 92
6,412 99
7,936 66
$1,341,500
1,341,500
1,341,500
83,743
90.354
84,657
--
Net
Profits.
Issued.
gross tons.
Month—1905—
July
Virginia.)
Authorized capital
Preferred
ENDING DECEMBER 31 1905.
Coal output,
Capital
SIX MONTHS
1907.
THE NEW RIVER
F.
of the properties
of the Company.
Its
By order of
May 1
this dividend should, In 1907, exceed the
1906, the excess earnings
Increase over
no
4,794,000
4,810,800
849,834 (av)$4,352,800
the rate of 10.12% per annum
Issued.
the past 18 months have amounted to 6% per
nd more than 2 % per annum on all of the
common stock outstanding of the New River Company.
Eighteen out of the 25 mines now In operation are new mines which have
not as yet reached their ultimate production, and It Is estimated that the
output during the next few years should be as follows:
earnings during
The
annum on
all the preferred a
Output.
2,000,000 tons.
Year—
1907.
2,500,000 “
3,000,000 “
ASSETS AND LIABILITIES NEW RIVER FUEL COMPANY AT
At the average rate of profit for the last five years this output would yield
CLOSE OF BUSINESS DECEMBER 31 1906.
net profits of $600,000 for 1907, $750,000 for 1908 and $1,000,000 for 1909,
thus affording by 1909 a return of 4 % on all of the common stock, after
Assets.
Cash In bank
$26,930 68 providing for the 6% dividend on the preferred.
Within the following few years the output should reach 4,000,000 tons,
Subscriptions (payable in monthly Installments)
542,663 32 which,
on the same basis of profits, would yield 7% per annum on the
48,573 52
Notes and accounts receivable
common stock after paying the preferred stock dividend.
If the constant
5,283,966 28
Investment In sub-companies (at cost)
Investment In coal lands (at cost)
407,345 95 upward tendency In the price of high-grade coals, which has for many years
323 26 been observed both In this country and abroad, continues, still larger
Miscellaneous$6,309,803 01
Liabilities.
a
Capital stock Issued
Capital stock paid for but not
Capital stock subscribed fox
♦Notes and accounts payable
Issued
Sundries
$4,810,800 00
2,936 68
542,663 32
952,474 86
......
928 15
$6,309,803 01
Incurred In
the purchase of new properties and mature at Intervals until
May 1909.
As against these obligations the Company has
subscriptions coming due monthly until August 1908 to the
♦Notes and accounts
amount of
And
payable represent obligations
r
undistributed profits In
sub-companies of
$542,663 32
199,737 88
exceeded by
$182,000 the amount required for the payment of the 6% dividend hereto¬
fore paid.
As several of the largest operations are Just reaching the stage
of full development, the excess of earnings above the amount required to
1906 the earnings
of the operating companies
E
'
•
should result.
•
•
COAL PROPERTIES.
*
properties owned and controlled by
and Its sub-companies are aslfollows:
*The coal
pany
fv
MINING COMPANIES IN
No.
r*
Company—
•
.
.
NEW RIVER COAL FIELD.
Estimated tons
Acreage.
Macdonald Colliery Co
1
862
Collins Colliery Co
1
1,036
5
5,681
3
3,921
1
1,627
2
917
1
1,036
Co
Stuart Collery Co
Harvey Coal & Coke Co
Dunn Loop Coal & Coke Co
Prudence Coal Co__
Mabscott Coal & Coke Co
Beckley Coal & Coke Co
Cranberry Fuel Co
Price Hill Fuel Co
Total
3,000,000
3,000,000
6,255
2
2,767
27,000,000
22
28,370
246,000,000
479
1
4
•
.
coal remaining,
53,000,000
40,000,000
6,000,000
3.000.000
5,000,000
4,000,000
40,000,000
62,000,000
1
Com¬
the New River Fuel
of
. Mines.
White Oak Fuel
$742,401 20
In the year
returns
•
3,789
No. of
coke ovens
120
100
-
-
-
—
100
_
_
_
...
—
v
320
•
1492
THE CHRONICLE
COAL LAND COMPANIES IN NEW RIVER COAL FIELD.
Estimated tons
Company—
Acreage.
Mossy Coal & Land Co
Dillon Coal & Land Co
31,000,000
cross
.
6,133
65,000,000
7,000,000
operations.
711
836
1,100
measures.
85,000,000
section along the river banks.
.20,190
20,190
207,000,000
.
_
Estimated tons
MINING
Acreage.
of Coal.
2,194
20,000,000
COMPANIES IN KANAWHA FIELD.
No.
Company—
1
2
Total
for
mining
developed
the easterly
was
The coal in this section Is to
a
considerable
Acreage. coal remaining. coke
2,959
11,000,000
2,202
11,000,000
3
5,161
ovens.
69
--
22,000,000
No. of
69
22
3
28,370
20,190
2,194
5.161
25
55,915
New River coal leases
Kanawha mining companies
Total..
.
.
cases,
independent of
at Mabscott, with their
as
Ovens.
320
207,000,000
20,000,000
-
22,000,000
69
495,000,000
389
other community.
any
reasonable basis of return
own
The houses
mayor
are
and council,
let to the miners
capital invested, and a complete depart¬
ment store Is established and run by the company at each centre.
While
the main Item of expenditure In the opening up of a property Is for mine
development, the investment represented by the houses, stores and other
structures, and In tools and equipment Is considerable, and In the present
operations is approximately as follows:
on
of land covered
seems
buildings
’592,500
Stock in trade in stores
236,000
superintendents and officials
178.500
1,666 miners' houses
795,100
17 stables
605 horses and mules
equipments
:
96 boilers Installed
are
by the
areas
of the nine bodies
the thickest
on
strike of the
“Upon these lands there are three seams of coal that have been actually
developed by either mining or borings or operations upon adjoining prop¬
are as
follows:
few acres, in the northerly section, the Eagle seam, which Is the
lowest of the Kanawha series, crops out on the hill tops.
“The next vein below. In order, Is the Sewell Seam, which Is the
upper¬
most of the lower series of veins in West Virginia.
This seam will run on an
a
average of from 4?$ to 5 feet In thickness
discussion, and is known
as
over the whole of the lands under
New River Smokeless Coal.
“The next seam which has been thoroughly developed by bore holes in
these lands, and by workings on adjoining lands, Is known as the
Beckley
Seam, which will average fully 4 feet of workable coal over the whole of the
lands under discussion.
This vein is also known
New River Smokeless
as
Coal.
“Below 5rou will find an analysis made by the United States Navy De¬
partment In August 1904, giving the component parts of the Sewell Seam:
Pealing
Eixed
Volatile
Carbon.
Ash.
Sulphur
Matter.
Macdonald Col. Co.79.18 %
Stuart Col. Co.. ...74.48%
“For the sake of
Moisture.
18.58 %
22.14%
19.48%
1.20
1.04
.42
15326
1.42
1.96
.58
15393
1.24
1.22
.48
15170
comparison. I submit the composition of Anthracite
Coal:
“
‘Analysis by A. S. McGrath of 30 samples especially collected for the
from RR. cars as loaded for market.
Samples taken from each of
the fields.
The coal coming from beds between the Primrose and the Buck
purpose
Mountain inclusive.
“A general average of the results shows the constitution of commercial
anthracite to be as follows:
207,950
Water
162,590
Volatile Matter
192,000
3.3%
_
3.8%
Fixed Carbon
84.05 %
Sulphur..
678,550
equipment
shops, tools, &c
supply-houses and stocks
Real estate (other than coal lands).
i__
Ash
38.500
25.500
162,567
motors
53,800
57 mining machines
25,100
.
5 saw-mills
23 ,500
Material
121.500
„
Total
$3,314,757
N .B.—The above Is copied from Page 1926, Pa. Geological
Survey, 1 895,
Summary of Final Report, Vol. 3. Part 1, Carboniferous.
“Another comparison may be Interesting at this point, viz.: with the
Bloss vein, a popular coal mined In Tioga County, Pennsylvania.
Analysis
by E. V. DTnvilllers in his final report, Pennsylvania Survey, page 2275,
giving the average of eight analysps of Bloss vein coal at different openings
follows:
as
Water
1.465%
Volatile Matter
OTHER PROPERTIES.
.19.741 %
Fixed Carbon
White Oak Railway Co.—Plncy River A Paint Creek Railroad Co.
.5%
8.4 %
195,000
Blacksmith and machine
Value
b.t.v.
22,900
Boiler and engine houses, engines, pumps, fans and com¬
pressors
389 coke ovens and
.
80.500
22,700
26 tipples
3,433 mine cars
to be covered
by this report, which
Sewell and Beckley seams.
Value.
29 electric
examined:
of the coal
White Oak Fuel Co.78.06%
INVESTMENT.
53 houses of
cream
“They
In the development of these large areas,towns and villages are built
up,
constituting complete communities, on the land of the operating company,
some
to the coal areas
“The
“In
tons of coal.
246,000,000
was
erties.
EstUnated
Mines. Acreage.
New River mining companies
New River coal lands
first formulated for the organization of the Company,
organized, the properties afterwards taken over were ex¬
amined by Mr. M. F. Dodge, of Wilkesbarre, Pennsylvania, an expert coal
mining engineer of large experience both In anthracite and bituminous
operations, employed by the Boston and Scranton Interests who were con¬
templating investing In the proposition.
He reported as follows with refer¬
No.of
RECAPITULATION OF COAL AREA CONTROLLED.
4
less desirable
When the plan was
ence
Estimated tons
of
Mines.
Great Kanawha Colliery' Co
Eureka Colliery Co
8 stable
The first portion of the field to be
and before It
NEW RIVER COAL FIELD.
Company—
New River Fuel Co. (Price South Raleigh)
19 store
thinner‘and
On the map annexed to this report with the
properties of the Company
colored will be found Indicated the east and west limits of the New River
8,514
.
grow
extent worked out.
LEASES IN
on a
seams
8,000,000
11,000,000
_
Total.
and In
New River, the
2,896
.
LXXXIV.
New River from Prince to Thurmond, and by a disturbance of nature are
pinched out and lost to the west of the line of the Deepwater Railway.
Lengthwise with the basin, In a northerly direction as the veins reach and
.
New River Fuel Co. (Gordon)
New River Fuel Co. (Pack’s Branch)
New River Fuel Co. (Mossy)
New River Fuel Co. (So. Raleigh & County Farm)
of Coal.
[VOL.
68.974 %
Sulphur
.686%
These roads, the stock of which is all owned by the sub-companies, con¬
nect such of the Company's operations as are not directly on the Chesapeake
Ash
& Ohio and
by Inquiries, the results In actual
good from coal taken from the Beckley Seam as from
the Sewell Seam, and therefore I think it will be safe to class the
Beckley
the
Deepwater (recently re-named the “Virginian”) Railway
with those roads.
They
are
operating over twenty-two miles of rail and
represent an Investment to date. Including the connection, now forty pe
of the White Oak Railway Company with the Deepwater1
Railway, of $587,935 85.
cent complete,
In addition to the
carriage of freight, both roads are operating a regular
By a traffic arrangement with the C. & O. RR., the
schedule.
White Oak Railway Company operates. In addition to its own line from
Stuart and Parral to Carlisle, the passenger service on the connecting por¬
tion of the C. & O. Railroad from Carlisle to Glen Jean, from which point
the White Oak Railway coaches are taken by the C. & O. trains and carried
through to Thurmond, thus giving through transportation between Stuart,
the present northerly terminus of the White Oak Railway, and the main
line of the C. & O. without change of cars or detention.
passenger
Company, all of whose stock Is owned by The New River Company,
Is the Inland sales agent
In both Eastern and Western markets of that Com¬
pany.
It owns an extensive plant at Richmond, Virginia, for the storage
and sale of coal both at wholesale and retail, the most complete In the city,
representing an Investment of $60,000. The Company is equipped to sup¬
ply the needs of all customers, carrying not merely New River domestic,
steam and smithing coal, but also Eureka splint, a fancy fireplace coal
which Is produced by the Eureka operation of The New River Company,
and for which there lb a large demand In the Southern market, and a supply
of anthracite.
This Company now sells seventy-five per cent of the coal
sold In Richmond.
NEW
RIVER
AND
COKE,
AND
same
concerned.
as
category
as
the Sewell Seam
so
far
as
This
coal, which stands at the head of bituminous steam coals and Is, In
prepared sizes, next to anthracite, best adapted for domestic consumption,
Is found only In a limited area of about 200,000 acres in the State of West
Virginia.
The basin containing it Is elliptical In shape, being longest from
north to south and shortest from east to west.
value and results
-
“In the actual
burning of the coal from the Sewell Seam, when the coal
placed upon the fire, there Is considerable smoke emitted by com¬
bustion, but in an incredibly short time this smoke disappears and then
under forced or natural draught there is practically no more smoke than
from Anthracite.
The lasting qualitiesof this coal will compare favorably'
with the best grades.of anthracite so far ns I was able to discover from
per¬
sonal Inspection of the use of this coal.”
Is first
In actual use New River coal Is found to produce more steam per ton
than any other American bituminous coal.
This results from the large
cent of fixed carbon and the small quantity of sulphur and ash.
It Is
preferred to all other coals by electric-lighting companies.
In the northerly portion of the New River field, where the greater
part
of the Company’s operations are located, the coal Is unusually hard and
screens out a large per cent of lump and egg. running as high as seventy-five
per cent as against an average of about forty per cent In the entire New
River field.
This lump and egg Is In such demand for domestic consumption
In the West, where the price of anthracite is almost prohibitory, that the
supply Is entirely Inadequate and sells at very satisfactory figures.
Ship¬
ments for domestic consumption to the West began In 1903 at 300 tons daily
from the New River field and has Increased to 6,000 or 7,000 tons dally
In 1907.
Company
sub-companies, all but 22,000,000 Is the famous New River Smoke¬
To the east the veins throw
daylight along PIney Creek and In the bluffs
fully
ANALYSES.
less Coal.
out to
Seam In the
are
I have been able to learn
as
arc
Further analytical tests made of several different coals
COAL
Of the 495,000,000 tons of coal owned and controlled by the
and Its
“So far
practice
per
White Oak Coal Company.
This
9.134%
on
the west shore of
Fixed
Volatile
Caibon.
are as
follows:
Matter.
Ash.
Water
...79.18
18.58
1.04
1.20
Cumberland Coal
72.70
19.13
6.40
.95
.78
Clearfield Coal
60.27
22.16
6.44
1.18
.93
New River Coal
Sulphur.
.42
The relative efficiency of different coals Is customarily stated by the
United States Government In terms of the number of pounds of coal which
are
the equivalent In heat value of a cord of white oak wood.
Tests made
by the United States War Department of a large number of bituminous
coals, which placed New River Company coal at the head of the list In effl"
June 22
clency, first suggested the designation “White Oak” as
These tests were as follows:
pany’s coal.
applied to the Com.
coa1
of
equivalent to one
cord of white oak
NEW RIVER COAL.
Average of Macdonald Collins. Scar boro and Stuart
tions of The New River Company)
wood.
(Opera-
1638
Pocahontas.
Tazewell County Mines
1740
*
Pennsylvania Bituminous Coal.
Bituminous Coal,
Pittsburgh
Pennsylvania
near
Thomas
Fawcett
& Sons mines.
1706
Co., Courtney Sta.,
Bltumlous Coal from Cincinnati mine of Jutte &
1875
Washington-Co., near Pittsburgh, Pa
•‘Hllldale,” average run of mine, Hllldale Coal Co., Washington Co., Pa 1803
“Sunnyslde” Coal from mine of Robert Jenkins, Sunnyslde, Pa
2167
West Virginia Splint Coal.
Paint Creek Coal
1796
Coalburg Splint Coal, mined at Coalburg, Kanawha County
“Dana’s Campbell Creek Coal,” Campbell Creek Coal Co.’s mines
Acme Mine, Stevens Coal Co., Coalburg, Kanawha County
“Crescent Block.” from Crescent Mine of W. R. Johnson, Montgomery.
1802
2014
2220
2047
Ohio, vcntucky and Tennessee Coals.
2423
2219
Southern Jelllco Coal Co., Knoxville. Tenn
Scotch and Welsh Coals.
2148
Scotch Splint Coal (Duke of Hamilton)
Lairds Welsh Hartley Coal, Wales
Davison's
West
1735
1916
1970
1903
Welsh Coal, Wales.
Hartley. Coal
West Hartley
Coal (Cowpen Colliery)
Cowpen Cambols West Hartley Coal
2129
ANALYSIS OF COKE.
On account of the excellent market for New River coal
for steam and
there Is but little occasion for manufacturing It
the present time only 389 coke
ovens.
The coke produced from New River coal Is, however, of the high,
est quality, the analysis In comparison with the well-known Connellsvllle
coke being as follows*
domestic consumption
Into coke, and the company operates at
New River coke.
■
Fixed carbon
—
Volatile matter.
I
Ash.
15
.68
.74
Water...
Sulphur
The small
proportion of ash In New River coal makes It possible, by
either
foundry or smelting purposes, for which a higher price than heretofore may
be expected In view of the rapid depletion of the coal supply In the Connells¬
vllle region, where, It Is stated, 20,000 ovens will go out of commission this
variation of the constituents, to produce a coke of the first grade for
year
for lack of coal.
TRANSPORTATION.
Railroad Transportation.
The Company s properties are wedged between the trunk lines of the
Chesapeake & Ohio and the Deepwater-Tidewater (now called the “Vir¬
ginian”) Railway, where these roads parallel each other, and are tapped
directly by both roads, and connected with both by the White Oak Railway
and the Plney River & Paint Creek Railroad, the stock of which Is all
River Company and Its sub-companies. The Company
Is thus In a position to secure through the Chesapeake & Ohio and the
Deepwater-Tidewater (Virginian) Railway, and through the equipment oj
Its own railroads with cars, better transportation facllltlesthan any other
owned by the New
operations In the West Vitginla Held.
Rlvtr Tra n sport a ti on.
By the acquisition a year ago of a terminus for the White Oak Railway
Company at the head of navigation on the Great Kanawha River the Com¬
secured the fuither advantage of a line of transportation for Its coal
entirely Independent of any railroad lines other than
those controlled by It.
This terminus, which includes a river frontage
of a mile and a quarter, was purchased as a part of the Great Kanawha
Colliery Company property.
Through the projected extension of the White
Oak Railway to this point, the Company will be able to ship Its coal by
river to markets of the Ohio and Mississippi valleys, to which no smokeless
bituminous coal has as yet been able to penetrate, and which are nearer,
by 200 miles to this point than to the l Ittsburgh coal fields, from which
they are at present ehlc'.y supplied by river shipment.
By bridging the
Great Kanawha River at this terminus, a connection ran be made with the
Toledo & Jhlo Central Railroad, and by building up the Gauley River over
an Ideal location, a connection can be made with the Western
Marvland
Railroad through the Kanawha & West Virginia Railroad, thereby avoiding
additional outlets both West and to the Middle Eastern States.
pany
to the South and West
MARKETING.
quality of New River coal Is such that the amount which can be
disposed of at profitable prices, either for manufacturing use, for domestic
consumption,oras coke, Is limited only by the amount which can be mined
and got to market.
The
-
TIDEWATER COAL.
Company’s tidewater agents are C.
through whom the coal is marketed under
River coal has for many years been handled
all accounts are guaranteed by the agents,
The
of the Penobscot River by Ice.
the tidewater agents of the Company have
consummated the purchase of four steamers
To further facilitate marketing
also within the last few months
and six barges,
which
are
owned and operated by the White Oak Transpor¬
and employed exclusively In the transportation of New
These are steel vessels of a carrying capacity aggregating over
tation Company
They are of the whaleback type, which makes it possible fo
when no other vessels can safely leave port, and In severa
Instances where a tug has lost Its tow the barge has anchored and ridden
out storms which It would have been Impossible for a barge of any other
25,000 tons.
them to go to sea
type to weather.
The steamers are constructed with engine quarters In the
and crew quarters In the extreme bow, enabling the entire
extreme stern
be opened up for the loading and
discharging of coal, thereby reducing the cost of trimming to a minimum
and securing a dispatch in loading and discharging which does not exist In
vessels of the usual type.
They carry coal themselves and also tow the
intervening space from stem to stern to
barges.
The fieet Is capable of carrying more than 600,000 tons of coal
yearly, being the equivalent of 21 ordinary barges, and constitutes one of
the most efficient coal-carrying equipments In service on the Atlantic coast.
Outside of its own capital the New River Company has In these storage
plants and vessels the benefit of an Investment exceeding
tidewater eoal.
H. Sprague & Son Company,
the same terms on which New
by them. Under this contract
so that there Is no loss on bad
accounts.
INLAND COAL.
Smokeless New River coal in
prepared sizes Is eagerly absorbed In Western
markets, where the price of anthracite Is prohibitory of general use.
Heretofore the amount of coal which could be shipped West for domestic
consumption has been limited, for want of storage facilities, by the available
cars during the winter months, and It has been necessary to refuse many
profitable orders oil account of the impossibility of shipping.
hill haul, and It Is planned to establish
In the principal cities of the West and thereby build up a
direct trade with the consumer which will be a permanent asset of the
and distributed by teams by a down
similar plants
Company.
PLANS FOR FURTHER
An
Important problem which confronts the New River Company, In
with all other coal mining companies at the present time, Is the
The Deepwater (Virginia) Railway is not yet completed
supply of cats.
to tide, and at present the Company’s operations are dependent on the
Chesapeake & (Jhlo cats.
During the past year the cars furnished have
averaged less than a three days’ supply a week. The effect of this Is not
only to limit the output of the mines to about 50% of their capacity, but
also results In an Increased cost of production In the coal which Is mined.
While It Is
gratifying that under these adverse conditions the Company’s
1906 more than 10% on the outstanding
mines have earned during the year
preferred stock, or 4 % In excess of the 6 % dividend which has been declared,
there Is no excuse for submitting to this serious handicap, and It Is proposed
to remove It by equipping the White Oak Railway and the Plney River &
Paint Creek Railroad with 1,800 50-ton hopper-bottom, steel or composite
cars of the,best type, together with the necessary locomotive power, suit¬
able repair shops, &c.
These railroads when so equipped will earn a reasonable return on the
They tap directly the largest of the Company’s operations
capital invested.
and will, when supplied with cars, enable the mines to run on full time,
with a resulting diminution In the cost of production and a large Increase In
output and profits.
In addition to the equipment of the railroads with cars, It Is planned to
complete the Carter’s Branch of the White Oak Railway, running from Oak
Hill to connection with the Deepwater-Tidewater (Virginian) Railway, In
order that cars may be sent from the White Oak Railway over either the
Deepwater (Virginian) or the Chesapeake & Ohio, as may be most advan¬
tageous.
It Is also planned to
complete the erection of storage and distributing
plants In several Western cities and to push as rapidly as possible to the
stage of full production the 18 operations which are not yet fully developed
out of the 25 opened up.
To accomplish these purposes the following sums will be required:
To be applied to the equipment of White Oak Railway and Plney
River & Paint Creek Railroad with cars, engines, repair shops,
completion of Carter’s Branch, and completion of title to
road rights of way
Shipments to the Philippines have recently been made,
and there Is also a European market, which, while at present Intermittent,
Is constantly extending, and, with the diminishing supply and Increasing
price of European coal, has a promising future.
New River coal, by reason of the small amount of sulphur contained in
It, Is free from the tendency to spontaneous combustion which Is found In
other bituminous coals, and this Is an element of value, especially in the
tidewater trade, as It enables the coal not only to be stored for later dis¬
tribution, but also to be accumulated In large quantities by consumers
Mine
DEVELOPMENT.
common
Storage and distributing plants and
in Mexico.
By the
establishing of discharging and storage plants In Western cities similar to
the Richmond plant coal can be accumulated during the summer and sold
during the winter at the high prices then prevailing.
A location is being secured In Cincinnati on high ground In the residential
section where coal can be discharged direct from the cars Into elevated bins
length of the Atlantic coast, Including
both North and South American countries, and a large trade has been built
The tidewater trade extends the
up
$1,200,000,
devoted to the marketing of Its
Connellsvllle coke.
87.05
.67
11.04
1.24
92.03
1.37
6.45
Searsport has, through the establishing of this discharging plant, largely
superseded as a coal port the city of Bangor, which during a considerable
portion of the year cannot be reached by vessels on account of the closing
River coal.
2971
Hocking Valley Bituminous Coal, Ohio
Peach Orchard Coal Co.’s mines at Peach Orchard, Ky
Westminster Brymbo
desiring to lay In their supply during the summer, when there Is the largest
for tidewater shipment.
While tidewater coal Is I n most cases dl scharged at the consumer’s wharf
there are some central points where large discharging plants are needed
from which coal can be distributed, and to meet this need there have been
established since the formation of the Company by its tidewater agents at
Providence, R. I., and at Searsport, Me., plants of the most modem
type, with a storage capacity of 50,000 and 75,000 tons,respectively, for
the discharging and storage of New River coal.
The plant at Searsport Is
at the newly-established tidewater terminus of the Bangor & Aroostook
Railroad, which Itself has for many years used New River coal exclusively.
Tlrls Is the only coal-discharging plant at that port, and through it and the
connections of the Bangor & Aroostook Railroad are commanded all of the
markets of Northern Maine, with their extensive paper and pulp mills and
manufacturing establishments, all large consumers of .steam coal.
The terminus at Searsport can be reached at all seasons of the year, anil
amount available
Pounds
.
1493
THE CHRONICLE.
1907.]
for the
rail¬
-
$850,000
termini and working capital
same
development.
Additional working capital for 12 operating companies
To be applied on bills payable for properties purchased
300,000
300,000
120,000
180.000
$1,750,000
purchased on the car-trust plan, and the Item of $850,000
payments required for this purpose.
The Items of
$300,000 for mine development and $120,000 for additional working capital
will put the operating companies in shape to mine and market the larger
The
cars
Includes
will be
the
cash
[Vol.
THE CHRONICLE.
1494
output, which can be handled with an adequate car supply .land, with the
$180,000 to be applied on bills payable for properties which have been
purchased, will make available for the payment of dividends the net profits
which arc hereafter made.
It Is believed to be good policy to thus round
out the operations already opened up, facilitate the transportation and
marketing of their product, lower the cost of production and capitalize the
Company’s obligations for the new properties which have been purchased
rather than to open up new operations at the present time.
It Is proposed to secure the $1,750,000 required by the issue of stock, to
which each shareholder In the New River Company will be entitled to sub¬
scribe proportionately to his present holdings on the basis of $100 for a block
of one share of preferred and two shares of common, one subscription right
attaching to each nine shares now held, whether preferred or common.
Information In detail as to this issue will be given to stockholders by
circular.
H
ORIGIN, MANAGEMENT AND DEVELOPMENT OF THE NEW
RIVER COMPANY.
In 1878 Mr. Samuel Dixon, now President and
General Manager of the
Company, came from England at the age of 22 and located In
the Kanawha coal field, having from the age of 14 been In the employment
New River
surrounding his native town of Skelton, England.
filled, In turn, positions In every department of mining operations In
West Virginia, including mine boss, bookkeeper, superintendent and man¬
ager, until, from the accumulations of his earnings, he became Interested
with Mr. Symington Macdonald of Glasgow, Scotland, on Ills own account
of collieries
He
In certain of the
operations which he was managing.
On the opening In 1893 of the Loup Creek section of the
field In West Virginia he secured, with Mr. Symington
New River
coal
Macdonald and
a lease of the property now owned by the Macdonald Colliery Com¬
organized that Company, of which he has ever since been the man¬
ager, and developed Its operations.
Re investing his profits In other coal
plan of bringing together Into one company a large area of New River
supply the New England demand for a steam coal of the best quality,
and the growing Western demand for a smokeless bituminous coal for do¬
mestic use, originated with Mr. Phlneas W. Sprague of C. H. Sprague &
The
coal to
Son, who, as wholesale dealers in New England for 32 years, had handled
coal from all the Eastern bituminous fields, Including New River coal from
the time when it first came on the market.
Sprague ultimately associated with himself In the proposition certain
(Pa.) Investors, who were familiar with the characteristics and
value of New River coal, and who from their knowledge and experience in
coal investments were glad to join In the enterprise.
The facts disclosed
by an Investigation of the Dixon properties were such as to make-It easy to
interest Boston capital, and the New River Fuel Company-was finally put
together by Including In it the stock of the operating companies controlled
by Mr. Dixon taken at their actual value, without bonus, commission or
promoter’s fee. The capital of the New River Fuel Company was supplied
by Mr. Dixon and his associates and by the Boston and Scranton Interests,
thus forming a company controlled entirely by men of experience In coal
matters, and retaining as stockholders the same parties who had been
profitably associated with Mr. Dixon from the beginning In his coal opera¬
tions In the New River field.
Since Its formation the Company has acquired control of the following
additional properties:
Dillon Coal & Land Company, area
6,133 acres
Mossy Coal & Land Company. area
2,896
-— ...
3,789
Beckley Coal & Coke Company, area
Cranberry Fuel Company, area
—
6,255
McGuffin Properties (Harvey, Dunn Loop & Prudence), area— 3,580
Gordon, Mossy & Pack’s Branch Lands..'
2,647 ”
Mr.
Scranton
others,
pany;
properties and associating with himself In his new enterprises the same
investors, to a large extent, originally associated with him, he had In 1905,
when the New River Fuel Company was formed, acquired the control and
management of extensive sections of the New River field.
These operations
had uniformly been brought to a successful development and included some
of the most profitable operations ever opened up In West Virginia.
Among these were Sugar Creek Coal & Coke Company, original Investment
$32,000. earnings for nine years $394,000, and Macdonald Colliery Com¬
pany, original Investment $30,000, earnings for 12 years $079,000.
The policy pursued by Mr. Dixon in the development of operations was
to make no charge for his personal services until the operations were
brought to a paying basis: to Install the best equipment obtainable;
to
build up around each operation a mining town with houses]a little ahead
of the prevailing standard In the field, supplemented by church and school
buildings and a general merchandise store, where the needs of the commun¬
ity could be supplied, and to exercise a close supervision over all expendi¬
tures of capital.
To each operation as It was taken over, the English [system of mining
accounts, brought over by Mr. Macdonald and Mr. Dixon and Introduced
nto their first operations, was applied, affording complete knowledge fat
all times of the financial aspects of the business, the cost of each month’s
output of coal, the relation of development to production
expenses, the
minute items, the profits made
In the operations and the stores, and full data with reference to the houses,
their rental and repairs and the profits derived therefrom.
On the accounting and financial side Mr. Dixon had from 1894 the valua¬
ble assistance of Mr. James W. Smiley, who then became associated with
him at the age of 20 In the position of bookkeeper, and who was vapidly ad¬
vanced until he became Treasurer of all the companies in which Mr. Dixon
was Interested.
On the formation of the New River Fuel Company iti 1905
and of the New River Company In 1906, Mr. Smiley was, with the approval
of all Interests, made the Treasurer of both these companies.
The policy pursued with reference to the personnel of his working organi¬
zation was to secure young, active men, and, starting them In minor posi¬
tions, to advance rapidly those who demonstrated their ability.
The cer¬
value of the
Company’s property
even to
25,300
river frontage of a mile and a quarter on the Great Kanawha River and
affording a terminus for river transportation to the markets of the Ohio
a
Mississippi River valleys. The Eureka Colliery Company (2,202 acres).
operation in close proximity to the Great Kanawha Colliery Company,
was also acquired to operate in conjunction with It, and these two operations
are now carrying the entire investment on the Kanawha River, including
the river terminus, at a net profit of 10 per cent.
A section of coal lands in Southern Raleigh County of 10,708 acres, occu¬
and
an
strategic position In the small portion of the New River field not as
has also be^n acquired.
In these acquisitions regard has been had to the balance between propv
ertles acquired for future development and producing properties, so that
while at present more than 55 % of-the acreage controlled is held untouched
for future mining, and while out of the 25 operations opened up only seven
have as yet reached the stage of their ultimate production, the earnings of
the operating companies during the 18 months preceding January 1, 1907,
were in excess of 10 per cent on the entire outstanding preferred stock of the
Company.
The Increase from all sources since the New River Fuel Company was
formed in the acreage controlled lias been as follows:
Originally controlled
14,746 acres
pying
a
yet pre-empted,
—379 per cent
The properties thus brought together form an almost unbroken area of
coal for more than 35 miles, following the main trough of the New River
seam from north of Fayetteville, the county-seat of Fayette County, to 15
miles south of Beckley, the county-seat of Raleigh County.
Increase
THE
formed there
were
found In charge of the practical side of all the
operations In which they were engaged, acquired through several years of
experience.
It is significant of the Interest of this working organization
In Its employment that over $2,348,000 of stock of the New River Company
has been purchased and Is held by those who were employed in the Dixon
operations at the time of the formation of the Company.
In 1905 the services of Mr. Francis W. Scarborough were secured as Gen¬
eral Superintendent of all the properties.
To accept this position Mr. Scar¬
borough gave up the position of Engineer of Maintenance of Way of the
Chesapeake & Ohio Railroad, In charge of the entire system, and brought
to the service of the New River Company a wide experience Iti construc¬
tive engineering and also a special knowledge with reference to railroad con¬
struction, development and operation, which has been Invaluable in the
laying out and construction of the White Oak Railway and Piney River &
Paint Creek Railroad, and In the solution of transportation problems.
Mr. Dodge, the expert who examined the properties, reported as follows as
to the equipment, organization and management:
"There Is a fully-equipped and efficient organization around the various
The business
collieries, as well as at the central offices at Macdonald.
In the clerical and operating departments Is conducted In a very systematic
manner.
The mine surveying, as well as outside engineering. Is done In
an up-to-date manner.
1^4 JiJhl
i
"I desire to say further that the machinery, buildings, mules, &c., are
all in first-class condition, the machinery, with the exception of Macdonald,
being new and of the very latest type of their various kinds.
The machinery
at Macdonald, while not so new, has been kept In perfect repair and Is In
first-class order.
“In developing
and working the mines great attention is paid to equal
which precludes caving of mines that follow
haphazard apportionment of pillar support. The pillars are unusually large
as to mine openings In the first mining.
In the first mining not over 33 1-3
per cent of the vein Is removed, thus Insuring a very certain and large yield
distribution of pillar support,
from second mining, or robbing of pillars.
"All the collieries are equipped
stores.
now
These stores
doing,
a very
are
with what are practically large department
fully stocked and equipped to conduct, as they are
profitable and large business.”
—
FORMATION OF THE NEW RIVER COMPANY.
plan was conceived of bringing these properties together, values
of coal lands In the New River field have more than doubled.
In view of
this fact and of the earnings shown by the operations controlled by the Com¬
pany,
and of the Increase of values In the Pennsylvania coal fields, which in
has exceeded 1,000 per cent In 10 years, the New River Company
was
pany was
-
Since the
of Mr. Dixon’s
operations men In the prime of life, not merely with a knowledge of mining
operations In general, but with an Intimate knowledge of the particular
55,915
Now controlled
some cases
steady extension of his operations, was such as to secure the
”
By these properties the northern operations In Fayette County were
joined with the Mabscott Coal & Coke Company, the most southerly of the
operations In Raleigh County.
To afford an outlet for river transportation there was also secured at a
later date the Great Kanawha Colliery Company (2,959 acres), controlling
tainty of advancement, and that positions would be available by reason
continuous service of desirable men, so that when the New River Fuel Com¬
LXXXIV
1906 for the purpose of capitalizing the value, above
capitalization, believed then to be in these properties, by taking
Fuel Company and giving to each
over all the stock of the New River
stockholder In exchange for each'one share of stock held by him three shares
of stock, namely, one of preferred and two of common.
This change was
made only after there had been brought to a producing stage the four new
mines of the Cranberry Fuel Company and the two mines of the Price Hill
formed In April
the original
Company, and after the large operations of the White Oak Fuel Com¬
and the Mabscott Coal & Coke Compauy operation had been brought
to the stage of profitable production, and the White Oak and Piney River &
Paint Creek railroads had been practically completed to connection with
Fuel
pany
Chesapeake & Ohio and the Deepwater (Virginia) railways, and the
transportation by the Great Kanawha River secured.
To give certainty and stability to the policy of development and of bal¬
ancing producing and non-producing properties, which was outlined when
the Company was organized, an opportunity was given to all stockholders,
without discrimination, to deposit their common stock In the hands of
Trustees, and the holders of over 87 per cent of"the common stock have
availed themselves of this opportunity, thereby assuring a consistent carry¬
ing out of the development of these properties for a period of five years.
Such new stock as has been Issued since the formation of the Company has
been over-subscribed and taken up without underwriting by the Company’s
the
terminus for water
own
stockholders..
The members of the Board of Directors represent
over
$6,000,000 out of the total outstanding
COMPANY.
Preferred Stock.
preferred stock, of par value $100 a share. Is a 6 per cent cumulative
STOCK
The
directly a holding of
stock.
OF THE NEW RIVER
stock, preferred as to dividends and in distribution of assets to the extent
of $100 a share and any cumulated and unpaid dividends, and subject to
call and retirement at $115 a share.
It has the same voting power as com¬
mon
first
stock, and the dividends are payable quarterly at 1 .4 per cent on the
days of February, May, August and November.
Common
The par
Stock.
value of the common stock Is $100 a share.
Transfer Agent.
Federal Trust Company, 95 Milk Street, Boston, Mass.
Register of Transfers.
First National Bank of Boston. Mass.
June 22
1495
THE CHRONICLE
1907.]
COTTON.
Cmwmcraal jinxes.
Friday Night, June 21 1907.
indicated by our
OF THE CROP as
THE MOVEMENT
COMMERCIAL EPITOME.
Friday Night, June 21 1907.
having become more seasonable, general trade
is better, the retail distribution of goods the country over
having sensibly increased. The weather, too, has been more
favorable for the crops and the outlook for the fall trade is
described as promising.
Prices are generally well sustained.
LARD on the spot lias declined further, owing to the con¬
tinued dulness of trade and increasing supplies and offerings.
The weather
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
25,388 bales, against 27,775 bales last week and 30,299
bales the previous week, making the total leceipts since
the 1st of September 1906, 9,573,976 bales, against 7,544,691
bales for the same period of 1905-06, showing an increase
since Sept. 1 1906 of 2,029,285 bales.
jobbing sales have been made of late at 8.37}/2e. for
city and 8^c. for Western. Refined lard has been dull at
unchanged quotations. Refined Continent 9.25c., South
America 10.35c. and Brazil in kegs 11.35c.
The speculation
in lard futures at the West has been moderately active with
Galveston
Port Arthur
-
Corp. ChristI, &c
New Orleans
Small
_
Mobile
Pensacola
Sat:
8.60
8.77
July delivery
September delivery
8.75
October delivery
Mon.
Tues.
Wed.
Thurs.
8.70
8.87 H
8.72 Va
8.87 ^
8.65
8.8214
8.60
8.80
8.85
8.87.4
8.824
8.80
Frl.
8.57 K
8.77 H
quiet.
$19@$19 50.
packet
India mess
$22.
Cut meats have been quiet and steady; pickled shoul¬
ders 8?4@9c., pickled hams 1214c., and pickled bellies 14@10
lbs., ll^@T2^e.
Stcarines have been dull and steady;
oleo 912@9?4C. and lard IOI4C.
Tallow has been quiet and
steady; City 6;t£@6T£c. Butter has been active and
steady; creamery, extras, 233^@24c. Cheese has been
moderately active and easy; State, large or small, colored
or white, best, 11 ^4c.
Eggs have been in fair demand and
Western fiists 15^@10e.
fairly active and steady
Prime summer yellow 59@60c.; winter 03@G4c.
Linseed
has been active and firm; Cit3r, raw, American seed, 45@40c.;
steady;
OIL.—Cotton seed has been
been quiet
57@58c. Cocoa; Ceylon
934@9 34e. Peanut has been quiet and steady; yellow
50@00e. Olive has been fairly active and steady; yellow
85@90c. Cod has been quiet and steady; domestic 38@40c.
boiled 4(i@47c.; raw, Calcutta, 70c.
Lard has
and steady; prime 7C@7Sc.; No. 1 extra
nut has been dull and steady; Cochin 1034@; lOl^e.
Newfoundland 40@42c.
COFFEE on the spot has ruled dull and steady at 6M@
6;i$e. tor Rio No. 7. West India growths have been quiet
and steady; fair to good Cucuta 83^@934cThe market
for future contracts has continued'to fluctuate within narrow
confines with the speculation still on a very restricted scale
and .destitute of features of interest.
The European news
has furnished nothing of a stimulating character and local
traders have been disposed to await developments.
The
reports that the Brazilian Government has stopped making
and
June
: 5.30c. |
have had no effect.
5.20c. | February
October
5.30c.
5.20c.|March
5.35c.
5.25c. |Aprll
5.35c.
September._1
5.20c. | January.
5.30c. | May
5.40c.
SUGAR.—Raw has been dull and steady. Centrifugal,
96-degrees test, 3.71c., muscovado, 89-degrees test, 3.21c.,
and molasses, 89-degrees test, 2.96c.
Refined has been
quiet and steady. Granulated 4.90c. Teas have been
moderately active and firm. Spices have been quiet and
July
August
5.20c. [November
5.20c. I December
_
steady.
PETROLEUM.—Refined has been firm with a good de¬
mand for export and domestic account.
Refined barrels
8.45c., bulk 5c. and cases 10.90c.
Naphtha has been active
and firm; 73@76-degrees 18c. in 100-gallon drums.
Gaso¬
line has been active and firm; 86-degrees, 21c. in 100-gallon
drums.
Spirits of turpentine has been dull and easy at
60@003^c. Rosin has been dull and steady; common to
good strained $4 55.
TOBACCO.—Trade in domestic leaf has continued dull
but prices have been firm as a rule, owing to unfavorable
crop prospects as a result of the unseasonably colei spring.
Sumatra has been in good demand and firm.
Some demand
old-crop Havana which has ruled strong of
that the available supply of
Abajo and Partido has been bought up at excep¬
is reported for
late.
Advices
Vuelta
from Cuba state
tionally high prices.
COPPER has been quiet and easier; lake 23?4@24c.
electrolytic 223^@22?4c. Lead has been quiet and
2,681
1,466
539
S
913
10
1,361
2,586
26
17
92
63
3
N’port News,&c.
New York
Boston
Baltimore
i
i
20
288
20
437
78
25
10
6
254
5
48
Tot.this week
2,251
49
7,116
6,572
3,625
Corp. ChristI. &c.
New Orleans
Mobile
...
142,919
7,602
4,113 1 ,459.615
50
7
578.896
N’port News, &c_
298
New York.
Boston
Baltimore.
40,577
22,704
156
71
o
^
641
25,388 9,573,976
Total
6
1.011
2,127
108
71
214
202
31
comparison may be
give below the totals at leading
6,807
10,475
6,809
126
769
|
298
5,417
108
644
wk.j
25,388
31,573
68,274
Charleston, & c!
Wllmlng’n ,&c|
57
458
1 ,01 1
2,127
2,258
28,809
41 ,416
645
8.628
6,343
4,744
1 .481
5,404
20,484
19,572
3,672
3,029
128,368
5,150
4,737
5.732
393,357
335.832
7,877
1902.
1903.
692
473
7.198
6,672
10,336
7,052
1 .077
940
120
3.218
255
495
3,745
8
15
1 ,179
17
870
15
604
462
362
363
190
29
1.006
3,200
13,995
14,339
22,259
19,455
16,095
1.903
9,172
64,923
4,999
167,640
1904.
12,279
628
1 .349
10,298
602
5,665
4,113
18
75,606
8,804
made with other years,
ports for six seasons:
1905.
1906.
6,294
42,159
153
.573 7,544,691
In order that
1907.
1906.
.
.
144,418
17,314
1,447.659
184,495
169,508
1 ,228
318,499
621 ,181
21 ,782
6,755
62,121
63,365
8,632
107
452
,688
59.868
9,615
1,042
Philadelphia
Sept.
25,388
68,814
237.261
9,172
170,609
2,258
Since
3,019
1907.
37,325
6,809 1.591,312
146,676
1,195
322,187
&c.!
641
1 1 1 .690
769
18
Norfolk
1,042
102
Stock.
10,475 2,500,326
57
Charleston
Georgetown
Wilmington
Norfolk
j
1,042
298
the total
compared with
Since Sep
1 1905.
This
week.
3,521
Pensacola
Jacksonville, <kc_
Savannah
Brunswick
Savannah
57
2,258
1905-06.
252.450
126
1
i
28
298
156
2,805
the stocks to-night,
6,779 3,831,902
132,823
28
72,015
6,294 2,250,635
Galveston
Port Arthur
Galveston,&c.j
18
the week’s total receipts,
Since Sep
1 1906.
This
week.
June 21.
j
_
_
..
1906-07.
......
4,113
11
2j
30
49
The following shows
since Sept. 1 1906, and
last year:
New Orleans.
Mobile
3,521
_
411
Receipts at—
28
126
526
700
852
1,002
Philadelphia....
Total this
6,294
•>
__
249
...
_
All others
28
803
_
Georgetown
Wilmington
Norfolk
N’port N.,
6,779
57
833
488
714
Charleston
we
121
9,354,360 7,036,613 7,577,913 7,370,214
1J9,573,976 7,544,691
1
total
exports for the week ending this evening reach a
63,363 bales, of which 33,360 were to Great Britain,
5,250 to France and 24,753 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1906:
The
of
1 1906 to June
Exported to—
From Sc]>t.
21 1907.
Exported to—
Week ending June
Exports
from—
j France.!
.
Total.
3,986
1 .083.476 3 .304.510
132.823
75,861
1.547
J
1,547
j
905,667 280.828 830,125 2 ,016.020
157.369
60.406
68,904 28.059
55,809 153,303
08,152 29,342
2.533
162,146
1,758,8571 462,177
10,545 20,214
9.669
Galveston
Port Arthur—
lirltaln.
Total.
.
Conti¬
nent
1
Great
Great j
| Conti¬
irltaln. Fr'nce nent
1 1907.
I
j
56,962
__
Corp.Christl.itc*
Mobile
Pensacola
Fernandina
Savannah
5,666
3,000
New Orleans.
380
j
i
....j
i
j
210
j
Philadelphia J
Portland, Me..
.
6,000
86
..
;
Seattle
|
Portland, Ore.
_
,
i
)
.
!
(
i
;
33,360 5,250 24,753
■
1t
21,393
317.507
7,624
6,140
455.712
154,314
159,796
4,270
39.583
81,002
7.501
81,002
93,938
49,525
49,525
900
„
4.176
1
9,679
„
21,393
93,938
,
!
I
*
j
Total
_
'
i
100
912.019
142,240
17,759
64,650
458
458
J
100
700,107
52,519
186,265
5,257
1.720
213,399
1
7,501
San Francisco.
Tacoma
3,311
1,776
36
I
!
i
4,420
203,648 3S.665
136.555
6,175
88,971;
!
35,313
6.598
3,331
50
250
3.017
1,261
1,776
50
49,766
125,242
2,367
10,221
210
10,221
'
Baltimore
89,721
.....
!
j
i
1
2.533
Norfolk
|
Newport News
New York
j
Boston
Detroit
380
3.986 1
..
Brunswick
Charleston
Wilmington
Pembina
15,590
7.590
900
4,176
9,679
,
63.363:3.723,505901,0123,G04.2048.228.72L
and
steady
at 6F@\
5.80@5.85c. Spelter has been quiet and easy
Tin has been moderately active and strong; Straits 43 34c.
Iron has been Arm and more active; No. 1 Northern $24 20@
$25 20; No. 2 Southern $24@$25.
at
1,084
8‘77 L,
PORK on the spot has ruled steady with trade
Mess $17 50@$18 25, clear $17@ $18 and family
Beef has been in fair demand and firm.
Mess $10,
$11 50@$12, family $12 50@$14 25 and extra
purchases under the valorization plan
The closing prices were as follows:
1,105
3,521
Jacksonville, &c.
Savannah
Brunswick
prices irregular. At times the tone has been rather weak,
owing to liquidation by longs in July. The continued dulness
of the spot trade has also had a depressing effect.
There has
been an absence of support from packers.
Aggressive selling
has been held in check, however, by moderate receipts of
live hogs, a firm tone at the stock yards and the rse in grain.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
322
Total.
Fri.
Thurs.
Wed.
1'ues.
Mon.
Sat.
Receipts at—
In addition to
above exports, our
give us the following
cleared, at the ports
New York.
telegrams to-night
also
amounts of cotton on shipboard, not
named. We add similar figures for
THE CHRONICLE
i
On Shipboard, Not Cleared for—
Great
lGcrJune 21 at— Britain. France
many.
Other
Coast¬
wise.
Foreign
Leaving
Total.
8,169i
4,513
Savannah
Charleston
Mobile
Norfolk
783
5,810
2,000
1,500
5,998
3,852
stock.
15,649
16,907
59,957
51,907
24,709
6,343
2,954
7.615
165,090
2,732
GOO
4,100j
,
350
5",850
12,869
12,869
2,550
5,500
New York
Other ports
1,000
1,700
50
20,882
17,039
49,338
1.550
9,546
13,608
800
800
700
300
10,193
9,210
10,850
17,157
16,224
2,800!
14,057
17,2o0 60,725
13,902 58,347
21,310 117,643'
332,632
277,485
305,080
1
•O
X
I
1
!
699
—
n
I.
to
I
<0
1
-r
!
8.650
1
©1
.©!
©!
cotton for future delivery has been on a
moderate scale at a decline in prices, mainly owing to better
weather and more cheerful crop advices which have come
not only from Texas but also from
many sections of the
still
the
bull
side,
many,
however, who adhere to
from a conviction that whatever the
improvement in the
crop prospects resulting from a couple of weeks of better
weather conditions, the probability of an
adequate crop
being raised is not sufficiently strong to warrant an expecta¬
tion of a material or
permanent decline.
It is eoncededly,
for the most part, a market which is dominated
very hugely
by the weather news. At one time dining the week prices
strong and had a noticeable upward tendency, owing to
dry, hot weather in Texas and very many crop reports of an
unfavorable kind from many parts of the belt.
Meantime,
too, the spot markets were, if anything, firmer than ever.
Liverpool and other European interests were buying next
crop months here, partly, it appears, for spinners, and the
more seasonable
weather, causing an improved retail trade
throughout the country, naturally had a strengthening
effect upon an already
strong dry goods situation. The
legitimate side of the cotton trade is active and prosperous,
appearances seemingly indicating a large consumption, not
only this year, but well into the next. To-day prices de¬
clined at hist, owing to favorable
crop and weather reports,
but later recovered and made a small net
advance, owing to
covering of shorts and some New Orleans buying. Rumois
that a new bull pool had been formed had some effect.
Spot cotton has been quiet and easy. Middling uplands
were
closed at 12.85c.,
decline for the week of 30 points.middling, as established Nov. 21 1900
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
The rates
on
a
and off
Fair
—c. 2.00 on ;
Strict mid. fair... 1.75 on
Middling fair
1.50 on
Boreiy mid. fair.. 1.25 on i
Strict good mid
1.00 on
Fully good mid--. 0.88 on
Good middling
0.76 on
Barely good mid.. 0.57 on
Strict middling—0.38 on ;
Strict low mid._c. 0.14 off !
Fully low mid
0.32 off
Low mkldltng
0.50 off,
Barely low mid
0.70 off <
Strict eood ond
0.‘K> off
Fally good o*d
1.07 off
Good ordinary
1.25 off
Strict g’d mid. figd. 0.30 on
Good mid. tiaflad.
Even
Basis Strict mid. tiag«4. 0.06 off
Middling
.
Middling tinced.c.
mid.ting
Low mid. tinged._
Strict g’d ord. ting
Fnlly mid. stained
Middling stained._
Barely mid.stained
Strict low
0.12 off
0.40 off
0.90 off
1.25 off
0.42
0.50
0.7S
Strict low m. stain. 1.50
Fully 1. m. stained 1.75
Low mid. stained. 2‘00
off
off
off
off
off
oil
The official quotation for
middling upland cotton in the
New York market each day of the,
past, week has been:
June 15 to June 21—
Sat.
12.90
Middling upland
NEW YORK
1907.C
1906._
1905
1904
1903
1902
1901
1900
9.19
...
7.62]
1888
7
191 1887..
7.31 1886
8.001I 1885
7.44 j 1884
| 1894
|1893
.c._
...
j
.
8 56
12.95
6.061 1891
6.38 i 1890
7.88 18S9
..
_
12.90
Wed; Thurs.
12.95
Fri.
12.85
12.85
QUOTATIONS FOR 32 YEARS.
..12.851 1899_o
..10.90 1898.
9.00) 18 97
..1 1.10| [ 1896
.12.40 |1895
.
Tues.
_
j1892
...
.
8.38) 18S3.C
12.06 | 1882
11 .00 | 1881
10.31 | 1880
10.50
12.25
11 .06
12.00
..12.38
11.44
11.75
12.12
11.00 1879
9 12| 1878
...10.44 1877
...11.31
|
1876.
MARKET AND SALES AT NEW YORK.
The total sales of cotton on the spot each day
during the
week at New York are indicated in the
following statement.
For the convenience of the reader we also add columns which
show at
on
same
glance how the market for spot and futures closed
days.
a
Spot Market
Closed.
Futures '
Market
Closed.
Sales of Spot and Contract.
| Con-
Export sum'n.
Contract,
[
11
11
Thursday
Friday
Total
JUTE
.
Quiet 25 pts. dec. Barely steady
Quiet
Barely steady
Steady 5 pts. adv. Steady
Steady
Steady
Qtdet 10 pts. dec. Steady
Firm
Very steady.
...
|
|
181
j Total.
|
200
mil
_465
mil
695
j 1,5411
____!
j
181
200
::::
"465
"iooj
795
1 HO j 1,641
BUTTS, BAGGING, ETC.—The market for jute
bugging has been dull the past week, with prices unchanged
at 9%c. for 2 lbs., standard grades.
Jute butts continue
dull at 3@4c. for bagging quality.
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hiC k
THE VISIBLE SUPPLY OF COTTON
to-night, as made
by cable and t<d(‘graph, is as follows. Foreign stocks,
as well as llie afloat, are this Week’s
returns, and conse¬
quently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
up
he item of
exports
June 21 —
Stock at Liverpool
Stock at London
Stock at Manchester
exports from the United
of
Friday only.
19(17.
_b;
Total Great Britain stock
Stock at Hamburg..
Stock at Bremen
Stock at Antwerp
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa.
Stock at Trieste
1
1906.
1905.
1904.
,165,000
767,000
13,000
88,000
15,000
67,000
845,000
14,000
57,000
498,000
10,000
42,000
550,000
23.000
190,000
4,000
148,000
4,000
33,000
1,266.000
.
.
849,000
9.1 6.000
14,000
1 4 ,000
309,000
210,000
14,000
313,000
232,000
3,000
16,000
122.000
1 .000
102,000
4 .000
13,000
39,000
28.000
26,000
7,000
4,000
15,000
409,000
491,000
455,000
,258,000
1,407.000
1 ,005,000
1 77,000
213.462
13,000
83,000
930,000
334,960
213,392
13.721
1 00,000
309,000
122,000
87,000
17,000
121,000
73,000
28.000
Total Continental stocks
675.000
Total European stocks
1 ,941 ,000
India cotton alloat for Europe
182,000
American cotton afloat for Europe:
145,858
Egypt, Brazil,&e., a tit. for Europe.
Stock in Alexandria. Egypt
Stock in Bombay, India
Stock In U. S. ports
Stock in U. S., interior towns
U. S. exports to day
.
.
33,000
89,000
781,000
393,357
393.357
197.630
5,750
l
3.000
24,000
1 40,000
921.000
422,723
237,733
8,858
38,000
483,000
212,880
116,496
7,854
3,768,595 3,,236,535 3, 570,314 2 ,172,234
Of the above, totals of American and other
descriptions are as follows:
American—
.
Liverpool
Manchester
stock..
stock.
Continental stock.
American alloat for Europe
U. S. port stocks
U. S. interior stocks.
U. S. exports to-day
Total American
East Indian, Brazil,
Liverpool stock
.1
b;
Total East India, Ac
Total American
656,000
58.000
350,000
213,462
334,960
213,392
13,721
8.858
347,000
87,000
212.884
116,496
7,854
2,421,595 1,839,535 2,248,314
.2,421,595
1,180,234
.
393,35 7
197,630
5 ,750
Ac.—'
London stock
Manchester stock
Continental stock
India alloat for Europe
Egypt, Brazil. &c., ailoat
Stock in Alexandria, Egypt
Stock in Bombay, India
,031 ,000
77,000
571,000
145,858
774,000
48,000
448,000
309,000
422,723
237,733
.
^
.
Saturday
Monday.
Tuesday
Wednesday.
I
O
1
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.
Mon.
0
LO
Y-H
'
Mississippi Valley.
Some accounts state that the improve¬
ment has been
very marked; others that while there has been
some betterment, the
raising of a large crop—that is, one
of sufficient size to meet tlie requirements of the world’s
consumption—is rather improbable. But, however this
may be, the more cheerful tenor of the weather and crop
news has undoubtedly had the effect of
causing a good deal
of liquidation and some lowering of
prices. This selling has
been not only by some prominent room
operators who had
accumulated a considerable long interest, but also
by
Wall Street, Southern and Western interests.
At the
same time there
has been a decline
of
public interest
in the speculation.
It has thus become very largely
what is known as a professional market.
There are
1
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1
Speculation in
C
—
—
Total 1907..
Total 1906..
Total 1905..
liXXXIY
FUTURES.—The highest, lowest and closing prices at
New York the past week have been as follows:
1
New Orleans..
Galveston
[Voi«.
,
1496
134,000
13,000
11,000
104,000
182,000
33,000
89,000
.
781.000
111,000
15,000
9,000
59,000
177,000
13,000
83,000
930,000
71,000
14,000
9,000
43,000
100.000
24,000
140,000
021,000
375,000
34,000
128,000
10,000
8,000
108,000
122,000
17,000
121,000
483,000
.1.347,000 1,397,000 1,322,000
992,000
.2,421,5.95 1,839,535 2,248,314 1,180.234
Total visible supply
3.708,595 3,236,535 3,570,314 2,172,234
3.708.595
Middling Upland, Liverpool..
7 04d.
6.12d.
5.05d.
6.14d.
Middling Upland. New York
12.85c.
10.90c.
9.30c.
11 .05c.
Egypt, Good Brown, Liverpool. 11 1-16c!. 11 3-1 Od.
7 Ed.
7Hd.
Peruvian, Rough Good, Liverpool[
11.25d.
8.65d.
9.80d.
3 0.50d.
Broach, Fine, Liverpool
6 J4d.
5 Ed. 4 13-10d. 5 15-16d.
Tinnevclly, Good. Liverpool..
a kid.
5 9-16d.
4 ?4'd.
5 ^d.
Continental imports past week have been 93,000 bales.
The above figures for 1907 show a decrease from last week
of 135,23 4 bales, a gain of 532,080 bales over
1908, an ex¬
cess
bales
of
198,281 bales
over
1904.
over
1905, and
a
gain of 1,590,361
June 22
AT THE INTERIOR TOWNS the movement—that is,
the
receipts for the week and since Sept. 1, the shipments
to-night, and the same items for
corresponding period for the previous year—is set out
for the week and the stocks
the
1497
THE CHRONICLE.
1907.]
QUOTATIONS FOR MIDDLING COTTON AT OTHER
are the closing quotations of Middling
Cotton at Southern and other principal cotton markets for
each day of the week.
MARKETS.—Below
in detail below.
Closing Quotations for Middling Cotton on
Weep ending
Monday.
Satday-
June 21.
12 15-16
Galveston
New Orleans
Mobile
Savannah
Charleston
12%
12%
Tuesday. Wed'day. Thursd’y.
12%
12%
12 %
12 %
12 Vi
12%
12%
12%
12%
13%
13%
13%
13.15
13 %
13.15
13 Vi
12 %
12 5*
12 15-16
12 %
12.90
12.90
13%
Friday.
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
13%
13 %
12.95
13%
12.95
13%
13%
13%
Wilmington
Norfolk
Boston
Baltimore
Philadelphia
Augusta
Memphis
St. Louis..
Houston
Little Rock
13%
13.15
13.20
13.20
13.10
13.10
13%
12 5*
12 5*
12%
12%
13%
12 5*
12 5*
12%
12%
13%
12 5*
12%
12%
12%
13%
12 %
12%
12%
12%
13
ORLEANS
NEW
12.85
.
%
12%
12%
12%
12%
MARKET.—The
OPTION
highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
-t~
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Range
Closing
July—
Range
Closing
August—
Range
fO
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p-i
Sat'day, Monday, Tuesday, Wed'day, Thursd’y, Friday,
Juye 15. June 17. June 18. June 19. June 20. J ne 21.
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12.50
—
—
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12 50
—
12.40
—
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—
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@
12.35
—
—
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—
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—
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—
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12.32
—
12.50
—
12.10-.30 12.08
12.10 — 12.12
—
-
—
—
@ — 12.35-.36 12.40
12.44- .45 12.31-.3o 12.40
—
—
@ — 12.07-.25
12.16.17
@ —
12.27-.28 12.24-.25 12.12-. 14 12.22-.24
—
—
—
—
October—
11.65-.87 11.62-.79 11.61-.85 11.76-.90 11.66-.76 11.61-.81
11.69-.70 11.67-.68 11.84-.88 11.79-.80 11.67-.68 11.78-.79
Range
Closing
in
ii.ii.cc©©^i>-iooii.©©©ooco©©-icoati-‘woc>-itot-‘ii.©to
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12.45
12.37
September—
Range
Closing.
K
—
—
12.76-.80 12.65-.75 12.60 — 12.68 — 12.60- 61 12.50-.55
12 75 — 12.70-.75 12.70-.75 12.65-.75 12.60-.62 12.55 —
Closing
c<n
@
12.50
—
December—
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—
—
11.83-.86
@
11.84-.88 11.73
—
—
—
11.79
11.88
—
—
Quiet.
Steady.
Quiet.
Steady.
Steady.
Steady.
Quiet.
Quiet.
Ba’ly sty Steady.
Steady.
Steady.
Co
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WEATHER REPORTS BY
^-oo©
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co at -4
.
Torn—
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@.-67 11.75 — 11.76
11.70-.75 11.72- .77 11.89
—
..
Closing
i»co-vi©i~to©c-' ^i©*vi**atcoat©oe©co©ococi-‘coai©©©v-‘'vi^joe©
© a* to © © © i- © «J to © © to *0 © © at © © © at a> -vt a. © to to © © ii. ~j © >-t
w i-t © f* ©
11.57-.78 11.55-. 76 11.57-.79 11.72-.85 11.63.72 11.56-.79
11.63.64 11.61.63 11.79-.80 11.74.76 11.65-.66 11.76-.77
March—
•C3
© i. zi ©
i. at
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11.56-.78 11.54-.73 11.54-.78 11.69-.82 11.60-.68 11.54.75
11.61-.62 11.59.60 11.76.77 11.71 -.72 11.61-.62 11.72-.73
Range
Closing
i
•—»■
...
}K
o
TELEGRAPH.—Reports to
by telegraph from the South this evening are generally
Temperature has been seasonable,
whole, and where rain has fallen it has been to the
The above totals show that the interior stocks have de¬ benefit of the plant.
Further improvement in the crop is
creased during the week 20,297 bales and are to-night 15,792 reported by many of our correspondents.
bales less than at the same time last year.
The receipts at
Galveston, Texas.—Good progress has been made during
all the towns have been 1,828 bales more than the same
the week in cultivating the crop.
Showers have been bene¬
week last year.
ficial but the plant is small and many stands irregular. The
boll-weevil is increasing in numbers.
More rain is needed in
Texas.
We have had no rain the past week.
The thermom¬
OVERLAND MOVEMENT FOR THE WEEK AND eter lias
averaged 82, the highest being 87 and the. lowest 77.
SINCE SEPT. 1.—We give below a statement showing the
Abilene, Texas.—We have had rain on two days during
overland movement for the week and since Sept. 1, as the
week, to the extent of forty-eight hundredths of an inch.
made up from telegraphic reports Friday night.
The results The thermometer has averaged 79, ranging from 94 to 94.
for the week and since Sept. 1 in the last two years are as
Brenham, Texas.—It has rained on two days of the week,
follows:
the precipitation reaching ninety-three hundredths of an
1906-07
1905-00
inch.
The thermometer has ranged from 04 to 92, averag¬
Since
Since
tt
June 21
...
..
....
.
t
oc to © © © at M ^ ce © at © © >— oo
-vi oo •—©©©© co .u -4 >— © iv © © ©to
i
i
© v-
-4
*3 2.
—
Week.
St. Louis.
Cairo
Rook Island
5,767
..
1,140
—
Louisville
Cincinnati.
other routes, &c
743
490
1,286
..
Total gross overland.
..10,457
Deduct shipments—
1,839
Overland to X. V.. Boston, &o.
48
Between interior towns
_
.
Inland, &c., from South.
Total to be deducted.
..
..
_
Leaving total net overland.a
..
Sept. 1.
783,032
213,287
82,685
84,260
53,337
Week.
426,337
5,397
3,683
Sept. 1.
506,953
540
239
198,993
44.081
706
618
99,326
56,918
253,069
11,183 1,159,340
1,642,938
.
487
140,693
4,485
163,875
93,197
69,73 4
2,475
19,534
56.681
6,372
326,806
2,962
216,908
4,085 1,316,132
8,221
942,432
..
a
...
m © .u to i. © -a to © © oc
to to a> to © oo © to oo co at
at i* © at © © to to to o * © — © to iv — © — a> -vi at c- © -j o
i
i
Shipped—
Via
Via
Via
Via
Via
Via
........
i
Including: movement by rail to Canada.
The foregoing shows the week s net overland movement
has been 4,085 bales, against 8,221 bales for the week
last year, and that for the season to date the aggregate net
overland exhibits an increase over a year ago of 373,700 bales.
1905-06
1906-07
In Sight and
Takings.
Receipts at ports to June 21
Net overland to June 21
Southern consumption to June 21
Week.
_
.
North, spinners'
a
Sept. 1.
7,544,891
942,432
1,939,000
85,794 10,426,123
78,215
016,017
69,777
3,519
2,543,827
previous
years:
—
28,424
10.504,338
2,282,301
week.
Movement into sight in
Bales.
2.3.
24.
26.
27.
31.573
8,221
46,000
12,985,462
21.
takings to Junc21
Decrease during
Week—
1905—June
1904—June
190,3—June
1902—June
25,388
4,085
48.000
57,176
sight during week
Total in sight June
Week.
Sept. 1.
0,57 3,976
1,316,132
1 ,994,000
7 7,473 12,884,108
101,354
020,297
Total marketed..
Interior stocks In excess
Came Into
Since
Since
Spinners'
Since Sept. 1 —
117,589 1904-05—June 2,3
4,3.73,3 190,3-04—June 24
42,344 1902-03—June 26
49.4001 1901-02—June 27
Bales.
12,528,013
9,789,888
10,410,140
10,042,628
favorable
of
a
on
the
tenor.
ing 78.
Corpus Chrisli, Texas.—There has been no rain during
Average thermometer 81, highest 80, lowest 70.
Cuero, Texas.—There has been rain on one day of the
week, the rainfall being twelve hundredths of an inch. The
thermometer has averaged 83, the highest being 100 and the
the week.
.
lowest 05.
Dallas, Texas.—We have had rain
on one
day of the past
week, the rainfall being three hundredths of an inch. The
thermometer has averaged 79, ranging from 04 to 93.
Fort Worth, Texas.—Rain has fallen on one day during
the week, the rainfall reaching sixteen hundredths of an
inch.
The thermometer has ranged from 00 to 92, aver¬
aging 79.
Henrietta, Texas.—It has rained on one day of the week,
the rainfall being fifty hundredths of an inch.
Average
thermometer 81, highest 98, lowest 04.
Huntsville, Texas.—We have had a trace of rain on one
day of the past week. The thermometer has averaged 81,
the highest being 95 and the lowest 07.
Kerrville, Texas.—We have had rain on two days during
the week, the precipitation reaching one inch and eighteen
hundredths.
The thermometer has ranged from 00 to 91
averaging 70.
Lampasas, Texas.—We have had rain on two days of the
past week, the rainfall reaching one inch and nine hundredths.
The thermometer has averaged 79, the highest being 95 and
the lowest 02.
Longview, Texas.—Rain has fallen on one day during the
week, the rainfall reaching thirty hundredths of an inch.
The thermometer has ranged from 63 to 95, averaging 79.
Luting, Texas.—There has been excessive rain on three
days of the week, the precipitation reaching three inches and
hundredth.
one
The thermometer has averaged 80, the
highest being 93 and the lowest 67. '
Nacogdoches, Texas.—There has been a trace of rain on
day of the past week. The thermometer has averaged
70, ranging from ti‘2 to 90.
Palestine, Texas.—Rain has fallen on two days during the
week, the rainfall reaching seventy-two hundredths of an
inch. The thermometer has ranged f rom 601 o 92, averaging 79.
Paris, Texas.—Then* has been rain on three days the
past week, the rainfall being thirty hundredths of an inch.
Average thermometer 78, highest 93, lowest 63.
San Antonio, Texas.—There has been rain on two days
during the past week, the precipitation reaching twelve hun¬
dredths of an inch.
The thermometer has averaged 81, the
highest being 96 and the lowest 66.
Weatherford, Texas.—There has been rain on two days
during the week, to the extent of ninety-nine hundredths of
an inch.
The thermometer has ranged from 67 to 98, aver¬
aging 83.
New Orleans, Louisiana —We have had rain on two days
the past week, the precipitation being twenty-four hun¬
dredths of an inch.
Average thermometer 80.
Shreveport, Louisiana.—We have had no rain during the
week.
The thermometer has averaged 80, the highest being
one
brief but comprehensive statement indicates
at a glance the world’s supply of cotton for the week and since
Sept-. 1, for the last two seasons, from all0sources from which
statistics are obtainable; also the takings, or amount gone
out of sight, for the like period.
Week.
Total supply
thermometer
The
64 to 90.
has
no lain during the
averaged 77, ranging from
Charleston, South Carolina.—-Then* has been rain two days
during the week,the rainfall reaching twenty-eight hundredths
of an inch.
The thermometer lias ranged Irom 66 to 88,
averaging 77.
Greenwood, South Carolina.—There has been rain on one
day during the week, to the extent of one inch and live
hundred! hs.
Average thermometer, 72 highe st 84, lowi st 61.
Stateburg, South Carolina.—Sharp thundeistorms on two
nights with the heaviest and most destructive hail we have
Total takings to June 21
Of which American
Of which other..
past weik.
ranging from 5 > to 89.
ALEXANDRIA
|
Alexandria, Egy,pt,
June
1!).
;
Receipts (cantars a) —
This week
Since Sept.
i
i;
!
1900-07.
i
1
AND
RECEIPTS
;
2,000
4
Since
,
205,0951
To Liverpool
To Manchester
To Continent
To America
‘13.000
193,465;.
2,500 332,435.
109.402
',!
'I
5,808 074
This
Since
0,193,037
This
Since
1.
week. Sept. 1.
1,250 193,920
1.750 208.342
week. Sept. 1 .j, iccck.'Sept
Exports (bales) — b
1004-05.
•
f>00
!
6.855,424
This
1905-06.
2,250 100,099
1,5n0 310.037
!M>0 08,093
143,402
5,500 300,301
1.250. 09.047
In Europe from Brazil, Smyrna, West Indies, &c.
Embraces receipts
PORTS.
INDIA COTTON MOVEMENT FROM ALL
Receipts at—
Since
1
Week.
For the
Since
Since
|
Srpt. 1.
56,000! 2,819,000
Bombay
1904-05.
1905-06.
1906-07.
June 20.
j Sept, 1
Week.
| Sept. 1.
Week,
28,000
j 2.490,000
41,000|2,492,000
\
Week.
Since September 1.
VsJLpUTis jruru—
'
Conti¬
nent.
Great
Great | Conti- ,
Britain.\ nent. I
Total, j
!
\
Britain.
Total.
.
|
Bombay—
1906-07
1,000;
.._
1905-00
1904-05.
j
00,000 1,033,0001 1,003.000
84 2,000
788,000
54,000
35 2,000
333,000
19,000
4,000!
3,000
2,000
20,000
2.000
20,000
5,000
5,000;
7,000
114,000!
3.000
3,000
103,000
12 1 .000
1 08 000
2,000
2,000,
5,000
2,000
33,000
35,000
1
Calcutta—
1900-07
1 905-06
1904-05
Madras—
1906-07
i
}
i
1
1905-00.
1904-05
All others—
1906-07
1905-00....
1904-05
1,000!
!
5,000
3,000
3,000
23,000:
28,000
37,000
13,000
40 ,(*00
200,000
145,000
188,000
210,000
16,000
1
i
8,000!
9.000!
10,000
13,000
13,000;
:rv)oo
j
12,000
13,000,
18.000
20,000!
19.000
35,000
35,000;
82.000 1 .370,000 1 ,452,000
78,000 1 ,073.000 1 ,151.000
599,000
567,000
32,000
,(»()()
,000
1
2,000!
1 .000;
1 ,000
,000
1
1
.
8.900
101 .000
196.000
j
Total all —
1900-07
1905-00
1904-05
3,000
1,000
;
17,000
MANCHESTER MARKET.—Our report received by
cable to-night from Manchester states that the market
is dull but steady for both yarns and
shirtings. Spinners
are considered
to be well under contract.
We give the
weeks
prices for to-day below and leave those for previous
of this and last year for comparison.
I
|
32a Cop.
84 lbs. Shirt¬
ings. common
Twist.
to finest.
i
!
June1
7
14
21
com;
am
Upl’s
s.
d.
d
10 0
6 10 4 @
10 0
6 11
CO
10 0
on
co
7 00
@10 14 ;
d.
May Id.
11 4
10
104
®
17 10 4
@ 11 ?•»
114
24
104
31
10 15-10® 12 4
1906.
■
1907.
!
s.
d.
6.75
6.96
7.10
323 Cop.
Twist.
d.
d.
9
@
i
84 lbs. Shirtings, common
Corn
Mid
!
to finest.
Upl'a
3.
9
d.
0.18
6.25
6.20
0.02
74 ®9
9
0.01
S
9
9
0.07
0.12
d.
6
6
0
7,4 @9
7,4 @9
94
94
@
@
7.44'94
7.19,94
7.04 94
@
104 0
@
ion u
104 o
8
d.
8
9
@9
7
.
74
04 @9
7.40 9,4
@
s
0
104
104
10 H
104
•
114
@
'll 1-10@
.11 l-16f<4
12 4 7 01
(al
11 7 00 4 (<X.
124 6 1 1 (<h
12
10 31
10 2
10 2
@9
(a 9
i
SHIPPING NEWS.—As shown on a previous page, the
exports of cotton from the United Stat(s the past week have
readied 63,363 bales.
The shipments in detail, as made up
from-mail and
telegraphic returns; are
as
follows:
Total bales.
foreign
YORK—To Liverpool—June 17—Carmania, 50
June 19—Coyle, 2.700 upland, 133 foreign
To Hull—June 20—Toronto. 74
To Marseilles—June 14—Calabria, 250
To Bremen—June 19—Friedrich, 239
NEW
To Hamburg—June 14—Patricia, 125
To Antwerp—June 14—Finland. 40
To Genoa—June 15—Koenlgen Lulse. 2.348
To Naples—June 15—Koenlgen Lulse, 155
To Venice—June 14—Francesca, 250
To Japan—June 20—IndrawadI, 168
GALVESTON—To Liverpool—June
19—Mexican. 3.841
SHIPMENTS.
;
336,813 13,849,773
220,713 10,303,273
116,100 3,546,500
282.510 15,432,123
168,410 1 1,462,023
114,100 3,970,100
_
.
Charlotte, North Carolina.—We have had only a trace
the
8,236,535
3,768,595 3,236,535
J
yet had in this vicinity Ill's season.
The rainfall was two
inches and twenty-eight hundredths in less than an hour.
The thermometer lias averaged 74, the highest being 89 and
the lowi st 59.
of
The thermometer has averaged 73,
19,200,718 3,573,348 17,086,308
.
Deduct—
to 86.
Savannah, Giorgia.—Wo have had
.
_
Leland, Mississippi.—There lias been no rain during the
The thermometer has averaged 74, ganging from 60
week.
Season.
Week.
Season.
3,451,471
3,903,829
June 14
2,545,670
1,784,156
Sept. 1
69,777 10,504,338
57,176 12,985,462
American* lii sight to June 21
28,000
2.490,000
56,000
2,819,000
Bombay receipts to June 20
309,000
359,000
17,000
16,000
Other India shlp'ts to June 20..
100
100
782,500
914,100
Alexandria receipts to June 19.
455,000
339,000
7,000
18,000
Other supply to June 19.a
Visible supply
Visible supply
week.
lowest 60.
1905-06.
1906-07.
Cotton Takings.
Week and Season.
a
Vicksburg, Mississippi.—We have had rain on one day
during the week, the rainfall reaching one hundredth of an
inch.
The thermometer has ranged from 66 to 90, averag¬
ing 78.
Helena, Arkansas.—Crops are much improved, although
late.
Land outside the levee is again overflowed.
There
has been no rain here the past week, but thunderstorms have
occurred within hearing.
The thermometer has averaged
76.2, the highest being 91 and the lowest 62.
Memphis, Tennessee.—Crop prospects are improving.
Rain would be desirable, but cotton is not suffering.
We
have had rain on one day during the week, the precipitation
being one hundredth of an inch. The thermometer has
average'd 77.6, the h'ghest being 88.9 and the lowest 64.
Nashville, Tennessee.—We have had no rain the past week.
The thermometer has averaged 74, ranging from 58 to 89.
Mobile, Alabama.—The weather in the interior has been
warm and favorable, and cotton generally, though small,
is growing steadily.
There are some complaints of grassy
fields.
It. has rained on one day of the week, the rainfall
reaching forty-one hundredths of an inch. The thermometer
has ranged from 67 to 91, averaging 78.
Montgomery, Alabama.—Crops are considerably improved
and are getting out of the grass.
Showns would help now,
the weather having been dry all the ‘week.
Average ther¬
mometer, 77 highest 91 and lowc st 63.
Selma, Alabama.—We have had rain on one day of the
past week, to the extent of fifty hundredths of an inch.
The thermometer has ranged from 62 to 85, averaging 74.5.
Union Springs, Alabama.—The crop is small, uneven and
grassy and thirty days late.
Much low land has been re¬
planted in corn. We have had no rain during the week.
Madison, Florida.—There has been no rain the* past week.
Average thermometer 79, hfghc st 94 and lowest 62.
Augusta, Georgia.—Splendid weather prevails, permitting
farmeis to do good work and causing rapid growth of the
plant. Wo have had no rain during the week. The ther¬
mometer has averaged 76, the highest being 94 and the
AND TAKINGS OF COTTON.—
WORLDS’ SUPPLY
The following
92 and the lowest 68.
rain
[VOL. LXXXIV
THE CHRONICLE
L I9r
•
2,943
-
74
250
239
;
125
40
2,348
155
_
250
17—Polvcarp, 5.828
June
9.009
471
To Hamburg—June 18—Burnholme. 471
To Bremen—June 17—Chemnitz, 3.020
To Antwerp—June 17—Corby Castle. 1.477,
To Barcelona—June 15—Fskdale. 3,708_.„
To Trieste—June 15—Fskdale, 165
To Flume—June 15—Fskdale, 1,038
3.020
_
1.477
3,708
105
1.038
3,000
NEW ORLEANS—To Manchester—June 19—Yucatan, 3,0()0_
To Havre—June 15—Atlantfan. 5,000
To Hamburg—June 21—Alexandria. 4,121
To Rotterdam—June 17—Inkula, 277
To Genoa—June 14—II Piemonte, 3,192
108
5,000
4,121
277
3,192
380
.
MOBILE—To Manchester—June 20—Clifton, 380,
PENSACOLA—To Liverpool—June 17—Ida, 3,980
SAVANNAH—To Bremen—June 19—Oafsa, 2,385
To Rotterdam—June 14—Vauxhall. 58
To Gothenburg—June 19—Oafsa, 90
WILMINGTON —To Liverpool—June 18—Haxby. 10,221
NORFOLK—To Hamburg—June 15—Hispania, 175
To Rotterdam—Jan. 21— Nordfarer, 35
....
...
3,980
2.385
58
90
,
.10.221
175
June 14 —
Liverpool—June 13—Bohemian. 422
Sagamore. 2
June 19—Cynv
June 18—Sylvanla, 05
35
BOSTON—To
2,500 840,997
Total exports
5,900 738,849
8,500,721.092
rle, 772
a
A cantar Is 99 lbs.
b
Egyptian bales
weigh
about 750 !bs.
To Yarmouth—June
13—Boston, 50
1.201
50
June 22
Total bales.
BALTIMORE—To Liverpool—June 14—Indore, 1,776
PHILADELPHIA—To Glasgow—June 1—Carthagenian,
1,776
50
36
50
15—Badenla, 36
SAN FRANCISCO—To Japan—June 18—Persia, 458
To Hamburg—June
458
63,363
Total
The exports to Japan since Sept. 1 have been 217,582 bales
from Pacific ports, 10,000 bales from Galveston and 4,139
bales from New York.
LIVERPOOL.—By cable from Liverpool we have the fol¬
lowing statement of the week’s sale s, stocks, &c., at that port:
Sales of the week-.
bales.
Of which speculator took..
Of which exporters took
30,000
2,000
25,000
28,000
8,000
7,000
63,000
75,000
1,190,000 *1,157,000
1,022,000
1,056,000
51.000
32,000
30,000
18,000
117,000
135,000
73,000
76,000
69.000
Forwarded.
Total s‘ock—Estimated
1,222,000
Of which American—Est._ 1,095,000
73,000
69,000
120,000
65,000
..
The tone of the Liverpool market
day of the past week and the
spot cotton have been as follows:
each
_
]
!J
Fair
business
Moderate
doing.
demand.
Spec.&exp.
Futures.
Market
■
7.10
7.04
5.000
300
3,000
7,000
1,000
6,000
500
6.000
1,000
decline.
decline.
Market
]
}
Quiet at
1*2® 5
pts. dec.
Quiet at
9® 11 pts.
Very
Quiet at
4 points
Quiet at
2 points
pt. decline.
advance.
decline.
decline.
Quiet at
Steady at
6 (<> 94
pts. adv.
Quiet at
5(5 6 pts.
Quiet at
3 *-2 @ 7
pts. dec.
1
to
1 @2 pts.
advance.
decline.
200
Steady at
7@8 pts.
Quiet,
.
DAILY CLOSING PRICES OF
No. 2 red winter
...
_
..
July delivery in elevator
...
decline.
prices of futures at Liverpool for each day are given
Prices are on the bass of uplands, good ordinary
clause, unless otherwise stated.
The
below.
in pence and
106ths.
Mon.
Tues.
Sat.
June 15
June 21.
1
12 4
p.m.
p.m.
6
6
June
June-July
July-AugAug.-Sep.
Sep.-Oct
Thus: 6 79 weans 6 79-100d.
Thurs.
W’ed.
6
_
_
Oct.-Nov.
Nov.-Dec.
Dec.-Jan.
Jan.-Feb.
Feb.-Mch.
Mch.-Apr.
Apr.-May
....
6
6
6
6
6
6
6
6
6
4
U
4
>•,
4
29
29
29 4
30 4
k:
p.m
12 k
4
12 4
p.m. p.m. p.m. p.m.p.m. p.m. p.m. p.m
4
12k
4
12 q !
70
Tues.
99 4
100
94 4
Thu rs.
99 4
100 4
Weil.
100 4
1004
Fri.
99 4
100 4
July delivery In elevator..
...
Sept, delivery In elevator.
Dee. delivery in elevator.
...
...
Sat.
89 4
92 4
94 4
102
102 4
Mon.
91
93 4
95 4
Tues.
looq
95
■103 4
91 4
94 4
96 4
102 4
Thurs.
91 4
94 H
96 4
Wed.
92 4
95
97 4
Frl.
91 4
94 4
96 4
futures have advanced, influenced mainly
by the lateness of the crop everywhere at the West. This
has led to buying for a rise, not only by professional traders
Indian
corn
better progress now.
There is no doubt, however,
crop has gotten a late start, and speculation for a
broadened.
To-day prices were easier on favorable
and liquidation.
DAILY" CLOSING PRICES OF NO. 2 MIXED CORN IN
Wed.
Tues.
Mon.
Sat.
62
59
59
jsi
165
76 4 76
62 P 61 4
59
60
49 4 48 W,
40
41
30
31
26
25
24
23
22 4 21 4
22 l-i 21 4
2^
23
23
24
DAILY
4
614
H
61
61 4
61
4
62
Tues.
52 4
53
51 4
IN
63
61
62
4
p.m.
4 69
57 4 55 4
55 k 53 4
46
4 3} 2
70
36 U 36
26 4 26
‘> O
21
20
19
18 4 18
18 4 18
18
19
19
20
W
4
4
4
Thurs.
53 4
53 H
52 * s
53
53
Frl.
53 4
53 4
51 4
4
4
52
delivery in the Western market have
been
The
Friday, June 21 1907.
Prices for wheat flour have ruled steady, the downward
drift having been arrestee! by the rally in wheat and the less
favorable tenor of the crop accounts.
Within a day or two
somewhat larger inquiry has been reported, but as a rule
the transactions have been small, buyers still showing a
CLOSING
DAILY"
Sat.
Wed.
Mon.
Tues.
49
4924-50
50 pj
FLOUR.
.53 10@53 50
2 90(0 3 00
3 75® 4 25
Low grades
Sect nd clears
Clears
.
.
Straights
Patent, spring
Patent, winter
.
.
.
desired'.
Wheat, per bush.—
N. Duluth, No. 1
N. Duluth, No. 2
Red winter, No. 2
Wheat has advanced, owing to less favorable crop reports
from the spring-wheat section, and also within a day or two
from Kansas and some other parts of the winter-wheat belt.
Moreove r, the* Russian crop outlook is described as unfavor¬
able. and Liverpool quotations have latterly advanced rather
a good demand there and light offerings, while
the weather in the* United Kingdom has again become rainy.
sharply, with
Threshing reports from parts of the Southwest are said to be
unfavorable, and green bugs and wire-worms are
complained of in the Northwest. It is true that the reports
rathe*]-
less contradictory,
saying that the outlook was good, while others have
painted it in very lurid colors. As near as can be* gathered,
the damage from insects there has been exaggerated; while,
on the other hand, some large interests appear to be* mini¬
mizing the damage.' Some reports to mercantile agencies
are to the effect that the weather has been favorable, during
the* week for the development- of all crops.
The speculative
world? however, has lent a readier ear to bad reports than to
good, especially as the* market had apparently become
somewhat oversold, not only here but at the West, and had
thus become more or le*ss ne*rvous and susceptible* te> the* in¬
fluence e>f bullish rumors of any sort.
For several days the
export business, too, was good, and this with strong European
markets helped to advance prices.
Some of the large bear
operators at the West, who were original bulls and recently
sold out and took the other tack, are now said to have cov¬
closing quotations:
The following are
Kansas
steady.
YORK.
Thurs.
Frl.
50
50 h
IN NEW
PRICES OF OATS
50 '4-52' i 51 H-53 ».<j 51 V$-53*$ 52 - 54
DAILY’ CLOSING PRICES OF NO. 2 MIXED OATS IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs. Frl.
July delivery In elevator
43 q
43 %
44
46 k
46 )i
45 H
Sept, delivery In elevator
35 >•£
36
36 I
37 ts
38
38 q
Dee. delivery In elevator
36 H
37?$
36 q
38‘j
38 1 4
38 q
the upward movement
flour trade everywhere
in wheat, but the condition of the
in this country leaves much to be
Rye flour and corn meal have been quiet and
sent
But
they
a little effect on sentiment. Commission houses have
been'large buyers, prominent Chicago operators have given
support and shorts have covered freely. The receipts have
been small and a pretty good cash business has been done at
firm prices.
To-day prices were firmer in the main on bad
crop reborts and general buying.
a
disinclination to anticipate future4 requirements, despite the
smallness of stocks.
Export trade has been lifeless. At the
Northwest business lias been stimulated to some extent by
crop
had not
lbs
4 8 i-<j
White
clipped,
36 to 38 lbs
49-51 49*4-51’<j
BREADSTUFFS.
4
CHICAGO.
Wed.
with the speculation active.
principal bulish influence has been the tenor of the
reports from many sections. Illinois in particular has
reports telling of serious damage from green bugs.
unfavorable reports have come from all States, and
Mixed, 26 to 32
from the Northwest have* been more* or
H
62
61
Mon.
52 4
52 4
50 4
Frl.
Thurs.
62
62
61
Sat.
52 4
52 4
50 4
Sept, delivery In elevator
Dec. delivery In elevator
NEW YORK.
62
61
CLOSING PRICI :s OF CORN FUTURI •:s
July delivery In elevator
that the
rise has
weather
strong and advancing,
4
72 4 714 so
58 *4 66 4!67 4
59 4 57 4 60
57
57
55 4 5 6 4 64
46
53 4154
46 4 44 4 47
45 4 45 4
38
39
36 4 39
135
29 4 28 4 36
29 4 27
314130 4
24
23
25
25
222
29 4 28 4
22 4 20 4 23
27
19
21 V* 20 4 2S
21
20
'27
19
2
1
21
4 28
4
*> o
2 1 4 28 4 27 4
21 U 19 4
29 4 28 4
22 4 20 4 22 4 22
72
79
66
64
55
45
37
33
30
1 2
99 4
99 4
93 4
924
...
Dee. delivery In elevator. ...101
Oats for future
Fri
!
1
to
Mon.
1004
1024
DAILY" CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sept, delivery In elevator.
Sept, delivery In elevator
The prices are given
WHEAT FUTURES IN NE WYORK.
Sat.
98 4
98 4
by commission houses. Moreover, country opera¬
been buying at Chicago, a fact which has given
color to the unfavorable crop reports.
The cash demand
has been more active at .firm prices.
Receipts have been
smaller and the lightness of contract stocks at Chicago has
held selling in check.
Within a day or two the weather
has been warmer and the crop is believed to be making
dull.
10,000
5,000
J
J
Easier.
unch.
orable
tors have
Friday.
Quiet.
7. OS
Quiet at
9 points
Thursday.
Quiet.
7.08
opened
4
P. M.
54,000
1,165,000
1,031,000
67,000
60,000
97,000
51,000
.
7.16
Quiet at
4(5 5 pts.
just how short it is. going to be. In any ease, they believe
sooner or later prices must reach a higher level.
To-day
prices were irregular within narrow limits. The crop news
was conflicting, and many were disposed to operate merely
for quick turns up and down.
The weather continued fav¬
that
but also
7.1G
Mid.uprdsi
Sales
7.000
28,000
6,000
for spots and futures
daily closing prices of
Wed'day.
Tuesday.
Monday.
Saturday.
Spot.
32,000
5,000 bales West Indian .added.
‘Adjusted;
Market.
12:15
P. M.
J u ne 21.
ered and to be ready for another turn on the ‘‘long” side of
the market.
Speculation is less brisk than formerly, how¬
ever, the recent favorable weather having cooled the enthusi¬
asm of many.
At the same time some experienced people
adhere to the conviction that the crop is to be short, both in
this country and in Europe, and that the only question is
1 ,000
24,000
13,000
.
June 14.
35.000
June 7.
May 31.
31,000
1,000
1,000
Sales, American._
Actual export
Total import of the week
Of which American.
Amount afloat.
Of which American
1499
THE CHRONICLE-
1007.J
4 40(a)
4 90(a>
4 90@>
Blended patents.
4 60
Rye flour
5 85
5 15
Buckwheat flour
Graham flour
Corn meal
patents..
54 60@54 90
3 60® 3 90
5 40® 5 90
4 75® 5 00
Nominal.
Nominal.
3 20@ 3 30
Kansas straights.
Kansas eleais
GRAIN.
Hard
108 q
f.o.b.iooq
f.o.b. 99
f.o.b.loi H
“
•*
Oats—per bushel—
No. 2 white
No. 2 mixed
No. 2 white,
;>1 14
@ 52
50
52
clipped..
@54
c.
Corn, per bush.—
c.
f.o.b. 63
No. 2 mixed..
No. 2 yellow, new
No. 2 white, new
Rye, per bush.—
No. 2 Western
State and Jersey
f.o.b.63
f.o.b.63
Nominal,
Nominal.
Nominal.
Barley—Western
Feeding
Nominal.
The statement of the movement of breadstuff’s to market as
indicated below arc prepared by t s from figures collected by
the New York Pioduce Exchange.
The receipts at Western
Joke and river ports
since At g. 1 for each
for the week ending last Saturday
of t-lie last thric ycais have been:
l
A*
r-ipts at—
Wheat.
Flour.
Corn.
Oats.
;
Farley.
and
liye.
some
bbls.l9()lhs. bush. 60 lbs. bush. 56 lbs. bush. 32 ths. bush AXlhS. bu. 56 lbs.
18,000
149.542
1,657,935
283,400
5,402,400!
157.040
Chicago
190.800
25,200
233,600
188,0001
134,000
Milwaukee..
67,900
2,523
93,612
19,976
409.353
Duluth
68,000
18.500
75,820
157,820
182,3201
1,717,130
Minneapolis.
400
66,000
228,000
30,000
Toledo
54,000
19,200
Detroit
2.600
120,361
849
5,483
Cleveland.
9S,347|
6,000
573,520
29,771!
St. Louis
124,810
51,560,
4,000
20,000
271,500
566,500!
Peoria
21,600
15,450
!
Kansas City.
Tot.wk.’07
363,399
Same wk. '06
Same wk. ’05
392.764;
Since
295,913;
369,000
3.113.976
1,797,578
1.539,539
320,000j
7,069,9381
4,913,826!
3,328.002
112,800
d
3,213,512
3,506,945
3,044,735
—
529.774
634,514
677.580
74,623
45,742
55,400
1
Aug. 1
522,074
1906-07... 18,626,769 220,937.878 192,558,530 183,577,246 64,563,391
1905-06... 18.186,261 209,886.129 170,669,556 204,058.089 72.536,365 7,375.778
6,444,083
62,915,212
1904-05... 15,191,798 192,902,862 167,500,025 148,414,092
;
Total receipts of flour and grain at
the week ended June 15 1907 follow:
New York
__
Boston
.
Portland..
Wheat,
Com,
Oats,
Barley,
Rye,
bbls.
bush.
bush.
bush.
bush.
bush.
100,641
30,092
566,300
493,375
414,950
71,917
365,600
80,508
80,500
58,500
835
725
86,945
48,245
3,050
6,355
9,268
59,774
15,606
54,200
41,441
310,008
71,946
29,232
139,640
2,700
40,000
671,552
90,000
8,000
278,769
247,215
1,903,507
845,465
1,287,021
1,127,330
994,380
1,529,539
II
Philadelphia
Baltimore
Richmond
..
Newport News..
New Orleans.a.
Galveston
Montreal
Mobile
Total week
39,586
4,600
328,782
301,664
..
49,185'
1,000
100
Total receipts at ports from
follows for four years:
59,325
30,184
Wheat
Jan. 1 to June 15 compare
1907.
1900.
1905.
1904.
bbls.
9,040,095
7,570,114
4,700,019
8,091,847
bush.
39,707,299
54,012,955
25,057,709
2,544,540
970,315
35,795,420
04,080,002
39,224,139
7,077,050
821,859
10,132,190
57,284,705
21,500,027
3,758,332
193,342
20.541.801
29,085,317
19,321,910
1,739,775
505,258
123,498,884
147,598,482
' 92,934,002
71,194,001
Receipts at—
Flour
Corn.....
Oats
Barley
Rye
Total grain..
The
exports from the several seaboard ports for the week
ending June 15 1907 are shown in the annexed statement:
Wheat,
Corn,
Flour,
Oats
Rye,
bush.
bush.
bbls.
bush.
bush.
616,445
280,714
235,240
56.828
16,865
31,291
43,406
146,512
31,694
73,277
16,000
432,703
94,715
17,143
147,584
24,633
32,749
9,870
1,095
420,369
111,135
6,355
18,901
349,194
10,140
24,632
22,570
14,324
940
Exports from—
New York
Boston
.
.
Philadelphia
.
Baltimore.
New Orleans
Newport News..
.
Montreal
.
Galveston
Mobile...
.
-
Total week
Same time 1906.
.1,603,541
4.600
529,493
350,963
The destination of these exports
July 1 1900 is
Peas,
bush.
2,871
30,395
—
—
90,366
5,946
-----
30,395
67,066
2,916
21,263
for the week and since
Wheat
Flour
Since
i
Week
Exports for week and June 15.
since July! to—
bbls.
United Kingdom
77,330
Continent.
05,152
So. <fc Cent. Amer
West Indies
20,711
38,430
Brit.No. Amer. Cols.
Other countries
475
330
-Corn
•
Since
...
Since
■
July 1
U7v7;
July 1
Week
July 1
1900.
June 15.
1900. June 15.
1900
bbls.
bush.
bush.
bush.
b7ish.
7S2,310 40,575,877 222,289 31,354,092
5,875,435
2,545,508
792,125 42,151.221 510,989 37,520,277
800,025
29,100
459.850
7,045
887,020
1,452,498 jj'
18,205 00,844 2,270,913
87,557- p
8,000
82,284
"
211,131
397,298 81,404
24s 147
•
202,440 10,972,814 1,003,541 89,010,511 883,231 72,309.933
188,354 10,503,730- 929,722. 55,080,507 472,190 10941S.261
The visible
supply of grain, comprising the stocks in
gran¬
at the principal points of accumulation at lake and sea¬
board ports June 15 1907, was as follows:
ary
New York.
afloat
Wheat,
Corn,
Oats,
Rye,
Barley,
bush.
bush.
bush.
bush.
48,000
bush.
34,000
1,507,900
473,000
1,743,000
Boston (last week’s)..
233,000
Philadelphia
485,000
206,000
38,000
(,77.000
254,000
142,000
70,000
140,000
249,000
142,000
Baltimore.
.
New Orleans
Galveston
Montreal
Toronto
_
Buffalo
**
854,000
154,000
21,000
8,000
-
706,000
170,000
78.000
302,000
260,000
4,000
2,000,000
2,000
1,886,000
9,000
29,000
494,000
475,000
122,000
1.000
afloat..
Toledo
“
afloat.
Detroit
“
364,000
227,000
22,000
9,000
9,372,000
642,000
2,347,000
320,000
195,000
109,000
157,000
afloat
Chicago
“
afloat..
Milwaukee
afloat
Fort William
Port Arthur..
Duluth
afloat
_
90,000
59,000
"
Minneapolis
.
3.940,000
4,425,000
5,817,000
12,14 1.000
St. Louis..
afloat
Kansas City.
Peoria
...
..
1,290,000
400,000
9,000
173,6o6
64,000
259,000
701.000
98,000
33.000
174,000
18,000
605,000
405,000
53,000
230.000
175,000
48,000
85,000
“
2,576,000
Indianapolis
211.000
85,000
On Mississippi River
On Lakes
On Canal and River
952,000
415,000
1,299,000
9,000
1907..48,015,000
1907..49.117,000
1900..28,104.000
1905..10,782,000
1904.. 10,343,000
Tota June 20 1903.. 18,300,000
0,039.000
Total
Total
Total
Total
Total
June
June
June
June
June
_
15
8
Hi
17
18
5.500,000
4.440.000
2,921,000
5,123,000
5,410,000
8,000
8,000
47/) id
8.937,000
10,153,000
7,802,000
7.108,000
4,937,000
4,177,000
90,000
■101,000
503.000
1,401,000
S15.000
879,000
702,000
798,000
905,000
724,000
773,000
1,291,000
574,000
THE DRY GOODS TRADE.
Afew
York, Friday Night, June 21, 1907.
A marked improvement in the weather has, according to
the reports coming to hand, caused a considerable extension
of business among the retail houses.
The outcome of this
in the wholesale market has been some increase in orders
placed with jobbers for seasonable varieties; -but the business
at first hands has shown little variation from recent
The stocks with retailers will stand considerable reduction
before replenishing needs become extensive or imperative.
Continued seasonable weather will help out the situation,
but it is doubtful if the setback from prolonged unfavorable
weather conditions can this season be overcome.
The busi¬
ness
above parity with the aver¬
current last week affecting
large retail houses have quite died out,
having apparently served the purpose for which they were
started.
At the same time complaints of slow payments
are still fairly numerous, but with the improved weather
conditions confidence is increasing that settlements from
npw on will be made with greater promptitude.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week ending June 15 were 2,038
packages, valued at 8179,359, their destination being to the
points specified in the table below:
New York to June 15.
Great Britain.
Other European
China
India
Arabia
Africa
West Indies...
Mexico
Central America
South America.
Other countries
The
rumors
1907
Since
Week.
Jan. 1.
29
1,047
605
43
.
507
98
612
715
34
doing this week at first hands in the cotton goods divi¬
2,038
Total
45
below:
as
Total
Total 1905-00
Bar lei/.
bush.
situation, as, on an average,
.
10,043
4,565
18,753
3,609
11,066
1,238
7,463
22,141
15,048
17.0S9
—
883,231 202,440
472,196 188,354
927,722
.
58
again been of moderate dimensions only. The de¬
immediate supplies has been limited and the
placing of orders for forward deliveries in a measure cur¬
tailed by the indisposition of manufacturers to commit
themselves to distant contracts on regular staple lines.
The
tone of the market continues firm for nearly every descrip¬
tion of cotton goods, and in the great majority the tendency
of prices is still against buyers.
Raw material Just now
mand for
age price of cotton.
the credit of certain
82,335
148,602
LXXXIV.
sion has
enters little as a factor into the
cotton goods are relatively well
83,000
Reeel ptB do not Include grain passing through New Orleans for foreign ports
through bills of lading.
•
a
as
II
._
Week 1906
the seaboard ports for
Flour,
Receipts at—
on
[VOL.
THE CHRONICLE
1500
95,578
1906
Since
Week.
18
44
Jan. 1.
689
735
906
22
63,773
3,800
19,763
4,335
10,599
1,029
7,503
26,645
7,559
2,151
146,430
375
521
44
221
The value of these New York exports since Jan. 1 has been
85,249,998 in 1907, against 88,266,280 in 1906.
Although the demand for heavy brown sheetings and
drills has been on an indifferent scale for the home trade
and but light for export, the tendency of prices has been
upward, and advances have occasionally been demanded
on
any deliveries required within the next three months.
Light-weight brown goods are also moving gradually against
buyers, owing to their very well sold condition, and manu¬
facturers’ reserve in going beyond their present contracts.
Orders for bleached cottons for the fall season are of moderate
are still being accepted in most cases “at value
extent and
colored cottons continue firm and on
prices
are being quoted, and an occasional advance is also made
on napped fabrics for dress purposes.
Printed calicoes are
quiet but firm, while orders for fine light printed goods have
again been of limited extent. Ginghams rule firm without
material change in feature.
New lines of cotton dress suit¬
ings for next spring are being opened and are attracting
a fair amount of attention; these are designed to compete
with low-class woolen and worsted fabrics, and range, as a
rule, in price from ~}/2 to 163Jc. per yard. All descriptions
of linings are very firmly held.
There an1 no regular print
rcloths in the market, and a quotation of 5 cents is purely
nominal.
Wide standards are quoted at
for immedi¬
ate delivery, but have been sold for delivery first half of
next year on' the basis of (i^c.
WOOLEN GOODS.—The opening of new lines during the
past week in men’s wear woolens and worsteds has not in¬
troduced any new factor into the situation.
They have
been almost entirely additions to. descriptions already shown
and of about the same price levels at earlier exhibits.'
The
higher-grade fancies still make but an indifferent showing,
but are likely to be added to steadily from now forward.
The business done during the week indicates that clothing
manufacturers are not disposed to operate to any material
extent out side of the most staple varieties, and in these they are
confining their orders mostly to serges in the best known num¬
bers.
The leading line’s of serges have therefore done well
and are in good position on next spring’s business.
In other
directions the results have not been so satisfactory.
A num¬
ber of the cheap manipulated fabrics, which have figured
quite prominently so far in the openings for next spring,
have met with quite an indifferent response at the hands
of buyers who, in the majority of cases, have done little more
than take sample pieces.
On the whole, the men’s wear
situation could stand considerable improvement without
being in any degree regarded as unusual. Business in over¬
coat. ngs and cloakings continues quiet and without marked
feature.
New lines of worsted dress goods coming upon
the market for next spring show plain worsteds mainly in
request, and on some of these manufacturers are quoting
an advance of 5 per cent
over a year ago.
The re-order
business for fall has been quiet in both plain goods and fancy.
FOREIGN DRY GOODS.—The demand for imported
woolen and worsted dress goods has been steady within
moderate limits; it has again ruii'chiefly upon plain varieties.
The tone of the market is generally firm.
The warmer
weather has caused a slight increase in the call for piece
silks and sales of ribbons also show some improvement.
The
an n si'iT.t’Vn is without new feature; current requirements
at first hands are light and buyeis have shown little disposi¬
tion to order ahead.
Importers, however, still demand
extreme prices.
Burlaps are in moderate request without
marked change in price on the week, but are available at some
concession from the recent high level.
only.”
some
a
All
coarse
Southern makes of denims and tickings higher
June 22
SW£ ANh ®ITY BWftTMENT.
News Items.
Michigan.—-Legislature Adjourns.—The Legislature of this
State adjourned June 19.
§ity.—Rapid Transit Railway’s Law Amended.—
signed on June 18 (not June 7, as given in
V. 84, p. 1382) the amendment to Chapter 4 of the Laws
of 1891 in relation to the powers of the Board of Commis¬
sioners of the Sinking Fund to prescribe the rate of interest
on bonds issued for the construction of rapid transit rail¬
ways, subways, tunnels, etc.
The substance of this bill will be found in V. 84, p. 1260,
New York
The Governor
of the “Chronicle.”
Work Commenced on Aqueduct.—On June 20 the city
commenced the construction of the Catskill Reservoir,
one of the most important features of the new 161-million
dollar aqueduct.
As stated in V. 84, p. 763, the contract
for the first portion of this work was awarded on March
27 to Thomas McNally <fc Co. of Pittsburgh.
Bond Proposals and Negotiations this week
baye been as follows:
Alhambra, Los Angeles County, Cal.—Bonds not Sold—
Bond Offering.—The following bids, all of which were re¬
jected, were received on June 4 for the $68,500 4% gold
coupon bonds described in V. 84, p. 1261:
N. W. Harris & Co., Los A $68,615
Los Angeles Tr. Co., Los A 68,600
00! Wm. R.JStaats Co., Pasa.$68,593 50
00|J. W. Phelps, Los Angeles 68,593 50
Proposals are again asked for these bonds and will be
received, this time, until June 25.
Alpine School District (P. O. Alpine), Brewster County,
Texas.—Bonds Voted.—This district on June 13 authorized
the issuance of the $20,000 5% 20-40-year (optional) schoolhouse and site-purchase bonds mentioned in V. 84, p. 1318.
Amherst County (P. O. Amherst), Va.—Bond Sale.—On
June 4 the $80,000 20-year coupon road-improvement bonds
described in V. 84, p. 1194, were awarded to E. H. Rollins
& Sons of Boston for $81,850, the price thus being 102.312.
The purchaser to print bonds.
Securities are dated July 1
1907.
4% coupon school-house bonds described in V. 84, p. 1382,
were awarded to the Estate of James Nicholl at 101 and
accrued interest.
Arlington Independent School District (P. O. Arlington),
Tarrant County, Texas.—Bonds Registered and Sold.—On
June 15 the State Comptroller registered the $15,000 4%
20-40-year (optional) school-house bonds dated June 1 1907
mentioned in V. 84, p. 1194.
have been purchased by the
These bonds, we are informed,
State School Fund at par and
accrued interest.
Asbury Park, Monmouth County, N. J.—Bond Sale.—This
city recently awarded an issue of $150,000 4J^% beachimprovement bonds to W. N. Coler & Co. of New York
City. Denomination $1,000. Date July 1 1907. Interest
semi-annually at the City Treasurer's office. Maturity July
1 1947.
.
Auburn, N. Y.—Bond Offering.—Proposals will be received
m. June 25 by C. W. Storke, City Comptroller, for
$140,000 4% Grammar and High School bonds. Authority
Chapter 276, Laws of 1906. Denomination $1,000. Date
day of issue. Interest April 1 and Oct. 1. Maturity $10,000
until 12
Oct. 1 from 190S to 1921 inclusive. Delivery of
Oct. 1 1907, $30,000 Jan. 1 1908,
$30,000 April 1 1908 and $30,000 July 1 1908.
Aurora School District (P. O. Aurora), Hamilton County,
Neb.—Bond Sale.—On June 14 the $43,000 4% 10-20-year
(optional) coupon school-building bonds described in V. 84,
p. 1318, were awarded to the Fidelity National Bank of
Aurora at 100.232—a basis of about 3.972% to the optional
date and about 3.984% to full maturity.
This was the only
bonds
Bank of Bath at par for 43^s.
Maturity $1,500 on July 1
1908 and $1,000 yearly on July 1 from 1909 to 1912 inclusive.
Bellevue, Huron County, Ohio.—Bond Sale.—Of the
$7,000 5% coupon High Street and York Street (village's
portion) improvement bonds offered on June 17 (V. 84, p.
1441) $3,500 were awarded to the First National Bank of
Bellevue at par and accrued interest
and $3,500 were
awarded to the Wright Banking Co. of Bellevue at par and
accrued interest.
No other bids were received. Maturity
$500 each six months from March 1 1912 to Sept. 1 191S
inclusive.
Beltrami County (P. O. Bemidji), Minn.—Bond Offering.—
Proposals will be received until 10 a. m. July 9 by the Board
of County Commissioners for $160,000 funding bonds at not
exceeding 5% interest. Authority Chapter 461, Laws 1907.
Date July 9 1907.
Interest semi-annually at the County
Treasurer’s office.
Maturity July 9 1917. Certified check
for $1,000, payable to the County Treasurer, is required.
Big Falls (Town) Koochiching County, Minn.—Bond Offer¬
ing.—Proposals will be received until 3 p. m. July 6 by
the Board of Supervisors at the office of Martin Nelson,
Town Clerk, for $4,000 road and bridge construction bonds
at not exceeding 6% interest.
Authority Chapters 64 and
11 of the General Laws of 1905.
Denomination $500. In¬
terest annually on July 6.
Maturity $500 yearly from 1920
1927
to
inclusive.
An
unconditional
$300, payable to the Town
certified check for
Treasurer, is required.
Man.—Debenture Sale.
debentures described in
Binscarth School District No. 506,
—On June 8 the $2,600 6% school
V. 84, p. 1318, were awarded to
H. L. Blair for $2,720
(104.615) and accrued interest.
Bloomington, Franklin County, Neb.—Bond Offering.—
Proposals will be received until 8 p. m. July 1 by R. W. Mont¬
gomery, Village Clerk, for the $14,000 5% water-works bonds
described in V. 84, p. 950.
Authority Section 8726, Cobbey's Annotated Statutes of 1903, as amended in 1905; also
22.
Denomination $500.
Date March
annually at the Bloomington State Bank
of Bloomington.
Maturity March 1 1927, subject to call
after March 1 1912.
Certified check for $500, payable to
the “Village of Bloomington.” is required.
Total debt, this
election
1 1907.
held Jail.
Interest
issue.
Brewster, Putnam County, N. Y.—Bonds Not Sold-—All
on June 5 for the $50,000 5-29-year (serial)
registered water-works bonds described in V. 84, p. 1318,
bids received
Amherst Union School District (P. O. North Amherst),
Lorain County, Ohio.—Bond Sale.—On June 17 the $30,000
yearly
1501
THE CHRONICLE.
1907.]
on
as
follows: $50,000
bid received.
Avon Union Free School District No. 1 (P. O. Avon),
Livingston County, N. Y.—Bond Offering.—Proposals will
be received until 2 p, m. June 28, by Wm. II. Farnum,
Clerk of Board of Education, for $40,000 4)^% school¬
building bonds. Authority, election held April 28 1906.
Denomination $1,000.
Date July 1 1907. Interest semi¬
annually at the State Bank of Avon in New York exchange.
Maturity $2,000 yearly on Jan. 1 from 1909 to 1928 inclu¬
sive. Certified check for $200, payable to Wm. H. Farnum,
is required.
Total debt, including this issue, $41,500. As¬
sessed valuation $1,000,000.
These securities were offered
without success as 4s on May 14.
Bath, Sagadahoc County, Me.—Bond Sale.—On June 17th
the $90,000 4% 4-12-year (serial) gold coupon refunding
bonds described in V. 84, p. 1441, were awarded to Merrill,
Oldham & Co., of Boston.
Bath, Steuben County, N. Y.—Bond Sale.—On June 17
the $5,500 registered funding and bell-tower bonds described
in V. 84 p. 1441 were awarded to the Farmers’ & Mechanics’
rejected.
Bucyrus, Crawford County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. July 11 by W. H. lams,
City Auditor, for $10,500 4% Charles Street improvement
(city’s portion) bonds. Authority Section 2835, Revised
Statutes.
Denomination $500.
Date July 1 1907. Inter¬
est semi-annually at the City Treasurer's office.
Maturity
$500 each six months from Jan. 1 1908 to Jan. 1 1918 inclu¬
sive.
Certified check for $100, payable to the City Treas¬
urer, is required.
Delivery of bonds July 20 at the City
Treasurer's office.
Accrued interest to be paid by pur¬
were
chaser.
Butler (Borough), Butler County, Pa.—Bond Offering.—
Proposals will be received until 7:30 p. m., June 27, by H. E.
Coulter, Secretary Borough Council, for $30,000 4% coupon
bonds.
Denomination $1,000.
Date June 15, 1907. In¬
terest semi-pnnually in Butler.
Bonds are tax-exempt.
Oamrose, Alta.—Debenture Offering.—Further details are
at hand relative to the offering on July 1 of the $10,000 6%
coupon
fire-protection debentures described in V. 84, p.1383.
Proposals will be received until 8 p. m. on that day by G. P.
Smith, Chairman Finance Committee. Date day of sale.
Interest annually at the Merchants’ Bank in Camrose.
Deb¬
entures are exempt from taxation. Certified check for $200,
payable to R. D. Fleming, Secretary and Treasurer, is
required.
Canal School District, Fresno County, Cal.—Bond Offer¬
ing.—Proposals will be received until 2 p. m. July 3 by the
Board of County Supervisors for $7,500 5% school-building
and equipment bonds.
Authority Chapter 3, Title 3, Part
3 of the Political Code.
Denomination $750.
Date June
13, 1907. Interest annual. Maturity $750 yearly on June
13 from 1908 to 1917 inclusive.
Certified check for $250,
payable to the Chairman of the Board of Supei*visors, is
required. Assessed valuation $154,856. W. O. Miles is
County Clerk and ex-officio Clerk of the Board of County
Supervisors.
Canton, Stark County, Ohio.—Bond Sale.—On’June 17
the five issues of 4%, 4Jd% and 5% improvement and sewer
construction bonds, aggregating $16,300, described in V. 81,
p. 1261, were awarded to Harvey E. Fife of Canton at 100.19
and accrued interest.
Following are the bids:
516.3801 Henry A. Wise
Savings Bank. Cant’n 16,300|John F. Blake —
Harry E. Fife, Canton
Central
a
For
516.800
a2.043
52,000 5% bonds.
Interest June and December.
Celina, Mercer County, Ohio.—Bond Sale.—On June 15
the S3,000 434% 1-3-yrar (serial) coupon water-works-cxtension bonds described m V. 84, p. 1383, were awarded to
the Commercial Bank Co. of Celina for $3,008, the piice
thus being 100.266.
$27,000 4 % coupon police-station bonds.
Chardon, Geauga County, Ohio.—Bond Offering.—Pro¬
June 1 1911..
25,000 4% coupon bonds
posals will be received until 12 m. July 16, by Hubert S.
Parks, Village Clerk, for $9,500 5% South Main Street
improvement assessment bonds. Authority Section 95, Mu¬
nicipal Code and an ordinance passed by the City Council
June 6 1907.
Denomination $500.
Date July 1 1907.
Interest March 1 and Sept. 1 at the First National Bank
of Chardon.
Maturity $500 each six months from March
Chatfield Township (P. O.
Ohio.—Bond Bale.—On June
00|Secur. S.B.& Tr.Co..To
Bond Sale.—Of the eleven issues of bonds offered
17
10,507 00
10,485.00
10,405 50
10,315 00
Maturity $1,000 on Sept, 1 1917, $500 on March 1 1918,
$1,000 on Sept. 1 1918, $500 on March 1 1919 and
$1,000 every six months from Sept. 1 1919 to Sept. 1 1922"
Dec. 1 from 1908 to 1912 inclusive.
(P. O. Chicasaw), Mercer County,
Offering.—Proposals will be received until 10
a. m. June 29 by John P. Hartings, Clerk of the Board of
Education, for $8,000 5% school bonds. Authority Section
Chicasaw' School District
Ohio.—Bond
Purchaser to prepare and furnish blank bonds.
Christian County (P. O. Hopkinsville, Ky.—Bond Sale.—
On June 11 the $100,000 5% 20-80-year (optional) coupon
turnpike-extension bonds described in V. 84, p. 1067, were
awarded to E. H. Rollins & Sons of Chicago at 107.75—a
basis of about 4.418% to the optional date and about 4.526%
to full maturity.
We
23,000 4% coupon fire-department bonds.
Date, day of sale.
Maturity
bonds.
Date
18.
disposition
was
made of the
the
State of Minnesota at
par.
Denomination
Interest annu¬
on
Eden
$500 Mch.
500 Sept.
500 Mch.
500 Sept.
500 Mch.
1,000 Sept.
500 Mch.
and the $80,000
1
1
1
1
1
1
1
'08 $1,000 Sept.
'08
500 Mch.
’09
1 ,<roo Sept
'09
500 Mch.
'10
1,000 vSept.
'10
500 Mch.
'1 1
1,000 Sept.
1
1
1
1
1
1
1
'11
'12
'12
'13
'13
’14
’14
$500 Mch.
1,000 Sept.
500 Mch.
1,000 Sept.
1,000 Mch.
1,000 Sept.
1,000 Meh.
1
1
1
1
1
1
1
’15 $1,000 Sept
’15
1,000 Mch.
’16
1,000 Sept.
’16
1,000 Mch.
’17
1,500 Sept.
’17
*18
1
1
1
1
1
’18
’19
'19
’20
'20
Certified check (or cash) for $500, payable to the Town¬
ship Treasurer, is required.
Essexville, Bay County, Mich.—Bond Offering.—This vil¬
lage.' is offering for sale an issue of $25,000 5% coupon streetpaving bonds. Denomination to suit purchaser. Interest
semi-annual.
Maturity fifteen years. Bonds are exempt
from taxation.
Fall River, Bristol
July 1 from 1908 to 1927 inclusive.
Navarro County, Texas.—Bonds Registered and
on
County, Mass.—Bond Sale.—On June
20 this city awarded $70,000 4% 20-year registered schoolhouse bonds to Merrill, Oldham & Co. of Boston at 100.059
This was the only Did received.
and accrued interest.
Aiithoritv Chapter 33S, Acts of 1907.
Denomination $1,000.
Interest semi-annually by check mailed
Date June 1 1907.
from City Treasurer’s office.
Those securities have been purchased by State
School Fund at par and accrued interest.
Creston, Wayne County, Ohio.—Bond Offering.—Propos¬
als will bo received until 12 m. July 15 bv Charles A. Tenney,
Fonda Independent School District (P. O. Fonda),
Poca¬
hontas County, Iowa.-—Interest Rate.—We are informed
that the $19,000 5-10-year (optional) registered school-
Village Clerk, for 86,300 5% Main Street general-improve¬
ment. (village’s portion) bonds.
Authority Sections 2885,
28856. 2886 and 2887 of the Revised Statutes.
Denomina¬
tion $500, except one bond for $300.
Date July 1 1907.
Interest March 1 and Sept. 1.
Maturity $300 on Sept. 1
1908 and $500 yearly on Sept. 1 from 1909 to 1920 inclu¬
sive.
Certified check for 5% of bonds bid for, payable to
the Village Treasurer, is required.
Purchaser to pay ac¬
building bonds "awarded
.
Co. of
*
on
Minneapolis (V. 84,
June 5 to the Wells & Dickey
1443) carry 5% interest.
Morgan Irrigation District (P. O. Fort Morgan),
Morgan County, Col.—Bond Sale.—On June 1 the $30,500
6% Jackson Lake R servoir completion bonds offered on
April 22 (V. 84, p. 827) were awarded to the First National
Bank of Fort Morgan at par and accrued interest.
Denomi¬
nation $500.
Interest April 1 and Oct. 1.
Fountain Green School District (P. O. Fountain Green),
Sanpete County, Utah.—Bond Safe.—On June 1 $12,000
Fort
crued interest.
to what
July 1.
Township, Seneca County, Ohio.—Bond Offering.—
Proposals will be received until 2 p. m. to-day (June 22) b}r
W. L. Wolf, Township Clerk, (P. O. Melmore), for $21,000
4*4% coupon road-improvement bonds. Authority page
550, volume 97, of the Laws of Ohio. Denomination $500.
Interest March 1 and Sept. 1.
Maturity as follows:
ally
school-building,
-Dayton, Montgomery County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. July 8 for the follow¬
ing bonds, mention of which was made in
. 84. p.. 1384:
as
$500, except two bonds for $1,000 each.
Sold.—An issue of $20,000 4% 80-year eitv-hall bonds dated
June 1 1907 wen4' registered by the State Comptroller on
June
not advised
1912 inclusive.
bonds to
street-improvement 5% coupon bonds described in V. 84,
p. 1819, were rejected.
Coles County (P. O. Charleston), Ill.—Bonds Proposed.—
At a meeting to be held July 11 the Board of County Super¬
visors will discuss the advisability of issuing $225,000 court¬
house-refunding bonds recently voted. Securities are dated
July 1 1907. Interest payable in Springfield. Maturity
Corsicana,
are
Eden
panied by a certified check for 5% of bonds bid for, made
payable to W. C. Culkins, City Auditor. Bonds are exempt
from taxation.
Purchaser to pay accrued interest.
Cincinnati School District (P. O. Cincinnati), Hamilton
County, Ohio.—Bond Offering.—Proposals will be received
until 12 m. July 22 by William Grantman, District Clerk,
for the $250,000 3.05% coupon public-school-improvement
bonds offered but not sold on May 27.
See V. 84, p. 1819.
Denomination $500.
Date, day of sale. Interest semi¬
annually at the American Exchange National Bank, New
York City.
Maturity 40 years. Certified check for 5%
of the amount bid for, payable to the Board of Education,
required. Accrued interest to be paid by purchaser.
Clarksdale, Coahoma County, Miss.—Bends Not Sold.—
$ll,250jyearly
June
The district has no debt at present.
Valley School District (P. O. Eden Valley), Meeker
County, Minn.—Bond Sale.—This district recently awarded
an issue of $8,000 4% 5-20-year refunding and improvement
to
Authority Section 2885, Revised Statutes. Denomina¬
” Interest semi-annual. Bids must be made on
printed forms furnished by the City Auditor and be accom¬
tion $500.
All bids received on June 4 for the $80,000
the $30,000 water-works-plant-construction
on
follows:
day.
Dayton School District No. 5 (P. O. Dayton), Sheridan
County, Wyo.—Bond Offering.—Proposals will be received
until 10 a. m. June 25 by A. J. Duffus, Clerk, Board of
Trustees, for SI,600 coupon school-house bonds at not ex¬
ceeding b\i% interest. Authority Art. 3, Chapter' 3, Title
6, Division 1, Revised Statutes. Denomination $320.
Date March 1 1907.
Interest annually at the County Treas¬
urer’s office.
Maturity $320 yearly on March 1 from 1908
Date July 15 1907.
thirty years.
10,000 3.65 % coupon McMlckcn Avenue Improvement
June 15 1907.
Maturity June 15 1909.
as
$8,000 4% additional water-course bonds and the $6,600 5%
Taylor Street paving assessment bonds offered on the same
Cincinnati, Hamilton County, Ohio.—Bond Offering.—
Proposals will be received until 12 m., July 18, by W. C.
Culkins, City Auditor, for the following bonds:
Maturity July 15 1927.
awarded
June 1 fn each of the years 1916 and 1917.
6,900 5% East Third Street paving* assessment bonds, awarded to the
Dayton Savings & Trust Co. for $7,156, price thus being
103.71.
Maturity $900 on .June 1 1909, $1,000 on June 1 1910,
$1,000 yearly on June 1 from 1912 to 1914 inclusive, and $1,000
on June 1 In each of the years 1916 and 1917.
3,700 5 % Emmett Street paving assessment bonds, awarded,to the Dayton Savings & Trust Co. of Dayton for $3,954 10, the price thus
being 106.867.
Maturity $700 on June 1 1910 and $1,000 ou
Juuq 1 In each of the years 1912, 1915 and 1917.
on June 29 1908 and $665 yearly on June 29 from
1919 inclusive. A cash deposit of $200 is required.
3.65%"coupon refusc-dlsposal-statlon bonds.
were
Maturity $1,200 on June 1 1909, $1,000 on June 1 1910, Si .000
yearly on June 1 from 1912 to 1914 Inclusive, and $1,000 on
8991 and 8992 of the Revised Statutes of Ohio.
Denomina¬
tion $665, except one bond for $685.
Date June 29 1907.
Interest annually at the District Treasurer s office.
Matur¬
$90,000
1262) nine issues
1915 to 1917 Inclusive.
Chelsea (P. O. Station, Boston), Mass.—A'ole Offering.—
Proposals will be received until 4 p. m. June 24, by Thomas
B. Frost, City Treasurer, for $115,000 5% notes, for general
municipal purposes. Denomination $28,000. Date June
1907.
Interest semi-annual.
1
Maturity $28,000 yearly
1909 to
p.
15,300 5% North Broadway paving assessment bonds, awarded to Breed
& Harrison of Cincinnati for $15,967 08, the price thus being
104.366.
Maturity $1,300 on June 1 1908, $1,000 yearly on
June 1 from 1909 to 1912 inclusive and $2,000 yearly on June 1
lrom 1913 to 1917 Inclusive.
14,000 5 % water works bonds, awarded to Denison & Farnsworth of
Cleveland for $14,710, the price thus being 105.071.
Maturity"
$1,000 yearly on June 1 from 1908 to 1913 inclusive and $2,000
yearly on June 1 from 1914 to 1917 inclusive.
13.500 5 % Germantown Street paving assessment bonds, awarded to
Breed & Harrison of Cincinnati for $14,062 95, the price thus
being 104.17.
Maturity $1,500 on June 1 1908, $1,000 yearly
on June 1
from 1909 to 1911 inclusive and $2,000 yearly on
June 1 from 1915 to 1917 Inclusive.
7,200 5 % Park Street paving assessment bonds, awarded to the Dayton
Savings & Trust Co. for $7,467 12, price thus' nelng 103.71.
inclusive.
ity $685
(V. 84,
$55,000 4% storm-water-sewer bonds, awarded to the Dayton Savings &
Trust Co. of Dayton for $55,280 50. the price thus being
100.51.
Maturity $25,000 on June 1 1921 and $30,000 on
June 1 1922.
25,000 4% street improvement and repair bonds, awarded to Denison &
Farnsworth of Cleveland for $25,011 75, the price thus being
100.047.
Maturity June 1 1913.
22,700 5% Broadway Street paving assessment bonds, awarded to Breed
& Harrison of Cincinnati for $23,646 59, the price thus being
104.17.
Maturity $1,700 on June 1 1908, $2,000 yearly on
June 1 from 1909 "to 1914 Inclusive and $3,000 yearly from
.$10,625 00
10,727 00j Denison& Farris wort h.Clev
10,721 00 | Farmers Exchange Bank,
Daniel Hull, Chatfield
New Washington
10,710 001
W. J. Haves & Sons, Clev. 10,639 OOj F. L. Fuller & Co., Clev._
Hoehler & Cummings, Toi. 10.637 501 Well, Both &Co.,C!n._._
for placing underground the wire and other
City Auditor, is required. Bonds to be delivered July 8
at the City Treasurer’s office.
pike-road-improvement bonds described in V. 84, p. 1819,
were awarded
to the Bucyrus City Bank of Bucyrus at
108.76.
Following are the bids:
Bucyrus City Bk.,Bucyru.s$10,876
Maturity
1917 Inclusive.
the $10,000 5% coupon
Otis & Hough, Cleveland.
Chas. Tobin, New Wash..
Date June 1 1907.
Denomination $1,000.
Interest semi-annually in New
York City.
An unconditional certified check on a national
bank for 5% bonds bid for, payable to Edward Philipps,
Chatfield), Crawford County,
11
LXXXIV.
signal apparatus of the tire department.
Date June 1 1907.
Maturity June 1 1917.
20,000 4 % coupon Great Miami Boulevard Improvement bonds.
Date
July 1 1907.
Maturity $2,000 yearly on July 1 from 1908 to
1 1908 to March 1 1917 inclusive.
Certified check on a na¬
tional bank for 5% of bonds bid for is required.
on
[VOL.
THE CHRONICLE.
1502
p.
.
June 22
i 503
THE CHEONICLE.
1907.]
5% 10-20-year (optional) central-school-building bonds dated
1-10-year (serial) bonds of Hester Creek School District to
1907 were awarded to the State Board of Land
Commissioners at par.
Denomination $500. Interest June
Charles B. Younger Jr., for $1,225, the price
102.083.
Denomination $1,000.
Date June 1
terest annual.
June
1
and December.
Garfield County (P. O. Panquitch), Utah.—Bond Offering.
—Proposals were asked for up to 12 m. yesterday (June 21)
by William T. Owens, County Treasurer, for $6,000 6%
gold coupon court-house bonds. Denomination $100, $250,
$500 and $1,000.
Date Jan. 1 1908. Interest annually in
Utah.
Maturity Jan. 1 1928, subject to call after Jan. 1
1918.
The result of this offering was not known to us at
the hour of going to press.
thus being
1907.
In¬
Hillyard School District No. 122, Spokane County, Wash.
County Treasurer on May 18 awarded
$25,000 5% 10-15-vear (optional) school-building bonds of
this district to E. H. Rollins & Sons of Chicago at 100.80—
a basis of about 4.90% to the optional and about 4.924—
to full maturity.
Denomination $1,000. Date June 1 1907.
—Bond Sale.—The
Interest semi-annual.
1907., Interest semi-annual.
Maturity June 1 1947, sub¬
ject to call $5,000 after June 1 1917 and $5,000 after June 1
Huntington Beach Union High School District, Orange
County, Cal.—Bond Offering.—Proposals will be received
until 11a. m. July 2 by W. B. Williams, County Clerk (P. O
Santa Ana), for $35,000 4school bonds.
Denomination
Date August 1 1907.
$875.
Interest semi-annually at the
County Treasurer’s office in Santa Ana. Maturity $1750
yearly on June 1 from 1908 to 1927 inclusive. Successful
bidder will be required to deposit a certified check or a
1922.
bond for $100.
Georgetown, Brown County, Ohio.—Bond Offering.—In
4% electric-light-plant-extension
m. July 2 (V. 84, p. 1443), pro¬
posals will also be received at the same time and place by
William A. Eylar, Village Clerk, for $6,000 4% coupon
public-hall and office building bonds. Authority Section
Independence School District (P. O. Independence), JackCounty, Mo.—Bond Election.—An election will be held
on June 25 to submit to the voters the question of issuing
$35,000 4% 5-20-year (optional) school-house-addition bonds.
Jefferson County (Kan.) School District.—Bond Sale.—
This district recently awarded $8,900 5% 15-year schoolhouse bonds to the State School Fund at par.
Denomina¬
tion $500, except one bond for $400.
Interest semi-annually
January and July. We are not advised as to the official
bonds bid for, payable to the Village Council, is required.
Glencoe School District No. 35 (P. O. Glencoe), Cook
name
Gatesville
School
District
(P. O. Gatesville), Coryell
County, Texas.—Bond Sale.—This district on June 15
awarded the $10,000 4^% school-building bonds voted on
May 7 (V. 84, p. 1263), to the State School Board at 104.88
and accrued interest.
Date June 1
Denomination $500.
addition to the $12,500
bonds to be offered at 12
2835 of the Revised Statutes.
Denomination $500.
Inter¬
est Feb. 20 and Aug. 20.
Maturity $500 each six months
from Feb. 20 1918 to Aug. 20 1923 inclusive.
Bonds are
free from all taxes.
Certified check, or cash, for 10% of
'County, Ill.—Bond Sale.—On June 13 the $20,000 4^2%
central-school-addition bonds dated July 1 1907 and men¬
tioned in V. 84, p. 1384, were awarded to the Northern
Trust Co. of Chicago at 101.18—a basis of about 4.297%.
The following bids were received:
Northern Trust Co.. Chie.$20,236 00.1 First Nat. Bank. Chicago.$20,110 00
Harris Tr. &Sav. Bk.,Chlc 20,227 001 E. H. Rollins & Sons,Chic. 20,102 00
Mason, Lewis & Co., Chic. 20.216 SO | O’Connor & Kahler, Chic. 20,053 Oo
Thos.J. Holger & Co..Chic 20,151 621 Devitt, Tremble&Co.,Chlc. 20,050 00
X. W. Halsey & Co., Chic. 20,150 001 ’
son
Kansas
City School District (P. O. Kansas City), JackCounty, Mo.—Bids Rejected.—All bids received on June
15 for the $600,000 4% 20-year gold coupon school-building
bonds described in V. 84, p. 1264, were rejected.
son
King County School District No. 7, Wash.—Bond Sale.—
May 27 this district awarded $13,500 5-10-year (op¬
tional) school-building bonds to Morris Bros, of Portland
for $13,617.50 (100.87) for 5s.
Denomination $500. Date
On
on
April and October in Chicago.
Oct. 1 from 1910to 1917 inclusive.
Glenville Union Free School District No. 15 (P. O. Glen-
ville), Schenectady County, N. Y.—Bond Offering.—Pro¬
posals will be received until 12 m. July 15 by Joseph Hanigan. Trustee, at the office of Win. Dewey Loucks, Parker
Building, Schenectady, for $6^000 5% school bonds. De¬
nomination $500.
Date July 15 1907.
Interest semi-annu¬
ally at the Citizens’ Trust Company of Schenectady in New
York Exchange.
Maturity $500 yearly oil July 15 from
1908 to 1919 inclusive.
Certified check for 10% of bonds
bid for is required.
Purchaser to pay accrued interest.
Grand Rapids, Kent County, Mich.—Bonds Not Sold.—
No bids were received on June 20 for the $15,000 1-5-year
(serial) coupon sewer-construction bonds and the $255,000
1-5-year (serial) coupon street-improvement bonds described,
in V. 84, p. 1320.
Greenfield School District No. 212, Man.—Debenture Offering.—Proposals will be received up to June 27 by A. R.
McMillan, District Secretary (P. O. Margaret), for $3,500
5% school debentures. Denomination $175. Date April
1 1907.
Maturity part yearly on Jan. 2.
Gulfport, Harrison County, Miss.—Bond Offering.—In
addition to the $18,000 school-house and $4,000 jail-building
5% coupon bonds to be offered on July 2 (V. 84, p. 1320)
proposals will also be received until 8 p. m. on the same
day by N. D. Goodwin, City Clerk, for the $125,000 street¬
paving and $30,000 sewer and water-works-extension 5%
bonds mentioned in V. 84, p. 1263.
Denomination not less
than $100 nor more than $1,000.
Maturity not later than
July 1 1927. Certified check for 10% of bonds is required.
Gunnison, Bolivar County, Miss.—Bond Sale.—This city
has disposed of the $5,000 6% 20-year water bonds described
in V. 84, p. 1068 to H. B. Sherman & Co. of Chicago at par.
Denomination $500.
Date July 2 1907.
Interest annual.
Harnett County (P. O. Lillington), No. Car.—Bond Offer¬
ing.—Proposals will be received until 12 m. July 8 by Geo.
Iv. Grantham, Chairman of Board.of Commissioners, for
$40,000 5% coupon refunding bonds.
Denomination $500.
Date July 1 1907.
Interest annually in Now York City.
Maturity 30 years! Certified check for $500, payable to
the Chairman of the Board of Supervise!s, is required.
The county has no debt at present
Hartwell, Hart County, Ga.—Bond Offering.—Proposals
will be received until July 10 by J. Rod. Skelton, City Sec¬
retary and Treasurer, for the $20,000 5% gold coupon
school-house bonds voted on May 20.'
Authority Section
377, Volume 1, of the Code of Georgia.
Denomination
$1,000.
Date July-1 1907.
Interest semi-annually in Hart¬
well.
Maturity $1,000 yearly on July 1 from 1917 to 1936
inclusive.
Certified check for $1,000, payable to J. Rod.
Skelton, City Secretary and Treasurer, is required.
Total
debt, including this issue, $35,000.
Assessed valuation 1906
,SS32,67S.
Hester Creek School District, Santa Cruz County, Cal.—
Bond Sale.—This county on May 20 awarded $1,200 6%
.
-
Interest annual.
June 15 1907.
Denomination $500. Interest
Maturity $2,500 yearly
of this district.
King County School District No. 52, Wash.—Bond Sale.—
On May 27 $1,000 3-5-year
(optional) school-building bonds
awarded to the State of Washington at par for 5s.
Denomination $200.
Date June 15 1907.
Interest annual.
were
La Grange, Troup County, Ga.—Bond
als will be received until 12 m. July 1 by
Offering.—Propos¬
J. I). Edmondson,
Mayor, for $40,000 4^2% gold coupon school-building and
street-paving bonds. Authority an Act of the General As¬
sembly approved Dec. 6 1897. Denomination $1,000. Date
July 1 1907. Interest semi-annually in New York. Matur¬
ity $5,000 yearly on July 1 from 1921 to 1928 inclusive.
Bonds are exempt from city taxes.
Logan School District (P. O. Logan), Harrison County,
Iowa.—No Bonds Voted.—We are informed that the report
that this district recently voted to issue $6,000 bonds is not
correct.
Ky.—Bond Offering.—Proposals will be re¬
m. July 10 by the Commissioners of Sewerage
for $1,000,000 4% gold coupon sewerage-system-construc¬
tion bonds.
These securities are part of an issue of $4,000f000 bonds authorized by an Act of the General Assembly,
approved Feb. 19 1906, ordinance passed by City Council
Louisville,
ceived until 12
on
Oct. 2 1906 and election held Nov. 6 1906.
at
Date Feb. 1
Denomina¬
Interest semi-annually
Maturity
forty years. Bonds are exempt from all taxation for mu¬
nicipal purposes of the city of Louisville. Each bid must
be made on a blank form furnished by the Commissioners of
Sewerage and must be accompanied by a certified check for
2% of the bonds bid for on a national or State bank doing
business in Louisville.
Accrued interest to be paid by pur¬
chaser.
P. L. Atherton is Chairman and Chas. P. Weaver,
Secretary and Treasurer of the Commissioners of Sewerage.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Bond Sale.—Up to June 6 $44,000 more of the $1,000,000
4% Louisville Water Co. gold coupon mortgage bonds of¬
fered but not sold on March 6 (V. 84, p. 766) had been dis¬
posed of. This makes a total of $263,000 bonds sold to date.
Lower Merion Township School District, Montgomery
County, Pa.—Bond Offering.—Proposals will be received
until 6 p. m. June 24 by Harry S. Zeigler, Secretary of
School Board (P. O. Ardmore), for $35,000 4% schoolground-purchase bonds. Date July 1 1907. Maturity part
yearly on July 1 from 1910 to 1936 inclusive.
McComb, Hancock County, Ohio.—Bond Sale.—The fol¬
lowing bids were received on June 3 for the $2,790 5%
electric-light improvement bonds described in A'. 84, p. 1137:
tion
$1,000.
the First National
Henry
Rudwell
..
_
1907.
Bank of New York City.
.$2,819 00(Security Savings Bank
2,797 501
Trust Co., Toledo
Hoehler & Cummings, Tol_
&
$2,702 00
Maturity $465 each six months from Oct. 1 1907 to April 1
1910 inclusive.
Manchester, Washtenaw County, Mich.—Bonds Defeated.
—An election held June 3 resulted in the defeat of a
tion to issue $25,000 4*^% improvement bonds..
proposi¬
Manitoba.—Debenture Offering.—Proposals will be re¬
ceived until July 1 by J. H. Agnew, Provincial Treasurer
(P. O. Winnipeg), for $500,000 4% telephone and telegraph
Denomination $500. Date July 1 1907.
Interest semi-annually at the Union Bank of Canada in
Montreal or at Parr's Bank in London at option of pur¬
chaser.
Maturity July 1 1947. Debentures to be delivered
monthly in sums of not less than $100,000. Accrued interest
to be paid by purchaser.
Marceline, Linn County, Mo.—Bond Sale.—This place on
May 1 awarded $11,000 5% 10-20-year (optional) school¬
building bonds to the William R. Compton Bond & 'Mort¬
gage Co. of Macon at 102 and accrued interest.
Denomina¬
tion $500.
Date May 1 1907. Interest semi-annual.
system debentures.
Marshall, Lyon County, Minn.—Bonds Voted.—On June
11 the issuance of $17,000 electric-light-improvement bonds
was authorized by a vote of 174 to 38.
We are informed
that application has been filed with the State for this loan.
Marshalltown, Marshall County, Iowa.—Bond Sole.—This
city, it is stated, recently awarded $16,000 4,1-2% funding
bonds to the Harris Trust & Savings Bank of Chicago.
Michigan City, Laporte County, Ind.—Bond Sale.—Re¬
ports state that this city on June 19 awarded $12,000 re¬
funding bonds to E. M. Campbell & Co. of Indianapolis for
$12,817.50, the price thus being 106.812.
Monroe Union Free School District No. 1 (P. O. Monroe),
Orange County, N. Y.—Bonds Not Sold.—No bids were re¬
ceived on June IS for the $10,000 4% school-building bonds
described in Yr. 84, p. 1445.
Montebello School District (P. O. Montebello), Los An¬
geles County, Cal.—Bond Election.—-According to local re¬
ports, an (‘lection will be held June 29 to vote on the question
of issuing $10,000 5% school bonds.
Morrillton, Conway County, Ark.—Bond Sale.—This city
on May 15 awarded an issue of $25,000 6% 10-year waterworks-construction bonds to the Pint; Bluff Trust Co.
Pine Bluff at par.
Denomination $1,000. Date May
1907.
Interest semi-annual.
of
15
Following
are
the bids:
Equitable Guarantee & Trust Co., Wilmington
W. J. Hayes & Sons, Cleveland
F. L. Kutz, Wilmington (for $20,000)
Artlzans Savings Bank. Wilmington (for $15,000)
Wm. II. Heald, Wilmington (for $10,000)
1
$110,836 00
110,353
20,302
15,000
10,000
00
00
00
00
Maturity $10,000 yearly from 1926 to 1930 inclusive and
$15,000 yearly from 1931 to 1934 inclusive.
New Orleans, La.—Bond
Offering.—Proposals will be re¬
July 12 by the Board of Liquidation
the $175,000 to $200,000 4% coupon
school-teachers’-salary bonds offered but not, sold on March
26.
See V. 84, p. 829.
Denomination $1,000. Date Jan.
ceived until 3 p. m.
of the City Debt for
Interest semi-annual.
Maturity Jan. 1 1927, sub¬
ject to call after Jan. 1 1917.
Certified check for $5,0Q0
the entire issue and for
amounts less than the entire
3%
on
on
issue is
required. Past-due interest coupons will be can¬
celed before delivery to purchaser.
New Richmond, Clermont County, Ohio.—Bond Sale.—
On June 17 the $4,400 4% 25-year sidewalk-construction
(village’s portion) bonds described in V. 84, p. 1265, were
awarded to the First
National Bank of New Richmond at
par and accured interest.
New York City.—Bond
Offering.—Proposals will be re¬
m. June 28 by Herman A. Metz, City
Comptroller, for $29,000,000 4% gold registered or coupon
corporate stock and bonds as follows:
ceived until 2 p.
$20,000,000 4 !o corporate stock for various municipal purposes, maturing
May 1 1957.
5,000,000 4% corporate stock for water supply, maturing May 1 1957.
1,500,000 4% corporate stock for the construction of the Rapid Transit
Railroad.
Maturity May 1 1957.
500,000 4% corporate stock for the construction of a library building
in Bryant Park.
Maturity May 1 1957.
2,000,000 4% assessment bonds, maturing May 1 1917
The above bonds
are
exempt from all taxation save for
State purposes,
except the Bryant Park Library building
bonds, which are exempt from all taxation. Interest May 1
and November 1.
Bonds
stock issued in coupon
form can be converted
at any time into registered bonds or stock and bonds or
stock issued in registered form can be converted at anjr
time into coupon bonds or stock in denomination of $1,000.
Either money or a certified check drawn to the order of
the City Comptroller for 2% of the par value of the stock
or bonds bid for must accompany proposals.
or
LXXXIV•
Chapter 274 of the Laws of 1904, which applies to the
City of New York, provides that “allor-none” bids cannot be considered by the Comptroller
unless the bidder offering to purchase “all or none” of the
bonds offered for sale shall also offer to purchase “all or
any part” thereof.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
sale of bonds of the
Omaha, Douglas County, Neb.—Bond Offering.—Propos¬
for $381,500 4^% refunding
Date Sept. 1 1907. Inter¬
est semi-annual.
Maturity Sept. 1 1927.
als will be received until Aug. 1
bonds.
Denomination $1,000.
Ovid and Middlebury Townships School District No. -9
(P. O. Ovid), Clinton County, Mich.—Bond Offering.—Proosals will be received until 1 p. m. July 8 by Calvin E.
illson, Secretary of the Board of Education, at the State
Savings Bank of Ovid for $17,000 5% coupon school-house
bonds.
Authority vote of 80 to 11 cast at election held
Sept. 24 1906, Section 4717 of the Compiled Laws of 1897
and Act No. 396 of the Local Acts of 1885.
Denomination
Date July 1 1907. -Interest annually on Dec. 31
State Savings Bank of Ovid.
Maturity $1,000 yearly
$1,000.
at the
Dec. 31 from 1907 to 1919 inclusive and $2,000 on Dec.
31 in each of the years 1920 and 1921.
This district has no
on
debt
at present.
The official circular states there is no
controversy or litigation pending or threatened affecting
the corporate existence or the boundaries of the district,
or
the
title of the
Board of Trustees to their
respective
the validity of the bonds.
Paterson, Passaic County, N. J.—Bond Sale.—On June
20 the $81,000 25-year school and $100,000 30-year renewal
4} 2% coupon or registered bonds described in V. 84, p. 1386,
offices,
or
awarded to John D. Everitt' A Co. of New York at
100.573 and 100.723 respectively—a basis of about 4.462%
on the school bonds and about 4.457% on the renewal bonds.
were
Pelham, Mitchell County, Ga.—Bond Sale.—This city has
disposed of the $15,000 electric-light, $12,000 water-works,
$9,000 ice-plant and $1,000 sewer 5% coupon bonds de¬
scribed in V. 84, p. 1138.
Maturity $2,000 yearly on Jan.
1 from 1926 to 1930 inclusive and $5,000 yearly on Jan. 1
from 1931 to 1936 inclusive.
Muskegon, Muskegon County, Mich.—Bond Sale.—This
city, it is stated, recently awarded $15,000 4,%% 20-year
refunding bonds to the Harris Trust & Savings Bank of
Chicago.
New Castle County (P. O. Wilmington), Del.—Bond
Sale.—On June 18 the $110,000 4%% gold coupon highway
improvement bonds described in V. 84, p. 1445, were
awarded to the Equitable Guarantee Trust Co. of Wilming¬
ton at 100.76 and accrued interest—a basis of about 4.448%.
1 1907.
[VOL.
THE CHRONICLE
1504
Pelham First Fire District (P. O. Pelham), Westchester
County, N. Y.—Bond Safe.—This district on June 20 awarded
$12,000 1-8-year (serial) registered bonds dated July 1 1907
to George M. Hahn of New York City as 6s.
Denomination
$1,500.
Interest semi-annually at the Columbia Trust Co.
in New York City.
Pensacola, Escambia County, Fla.—Bond Offering.—
Further details are at hand relative to the offering on July
9 of the $450,000 4Y/i% gold coupon improvement bonds
mentioned in V. 84, p. 1386.
Proposals will be received
until 12 m. on that day by L. Hilton Green, Chairman of
the Board of Bond Trustees.
Authority Chapter 5530 of the
Denomination $1,000.
Laws of 1905.
Date Jan. 1 1906.
Interest semi-annually at the office of the United States
Mortgage k Trust Company in New York City. Maturity
Jan. 1 1936, being subject to call as follows: $50,000 after
twenty years and $150,000 after twenty-five years.
Each
bid must be made on a blank form furnished by the city and
must be accompanied by a certified check for 2% of the
bonds bid for, drawn on a bank in Pensacola and made pay¬
able
to
the
Board
accrued interest.
of
Bond
Trustees.
Purchaser to pay
These bonds will be certified to
as
to their
genuineness by the United States Mortgage & Trust Com¬
pany and their legality will be approved by Dillon & Hub¬
bard, of New York City, whose opinion will be delivered to
purchasers.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Perinton, Monroe County, N. Y.—Bond Sale.—On June
20 the $25,000 1-20-year (serial) registered town-hall bonds
described in V. 84, p. 1445, were awarded to the Rochester
Savings Bank, Rochester, at 100.04 for 4^s.
Phoenix, Ariz.—r Bonds Awarded in Part.—It appears that
all but $60,000 of this city's issue of $300,000 water bonds
have been sold and issued, and that this $60,000 will also
be issued shortly.
It is proper to say that the $300,000 5%
water bonds were originally voted on Dec. 12 1903, but,
owing to subsequent litigation, they
were
not issued until
June 1 1906.
The securities were awarded at that time to
YY. R. Todd <fc Co. of Cincinnati at par and accrued interest;
but further litigation prevented the consummation of this
sale until February 1907.
In January 1907 the city con¬
tracted with the Phoenix Water Company for the purchase
of their plant, subject to the approval of Congress.
The
contract was approved by Congresss on March 14 1907, with
the provision that the proposition be submitted to a vote of
the people.
See V. 84, p. 829. An election was held on
May 7, at which time a majority of the electors voted in
proposition. Under the terms of the contract
$60,000 of these bonds are to be held by the city pending the
favor of the.
June 22
J505
THE CHRONICLE
1907.]
final transfer of the water plant,
will probably take place about July
which we are informed
1.
Sask.—Debentures Not Sold.—No bids were
May 31 for the three issues of 4^% debentures,
Prince Albert,
received
on
aggregating $160,360, described in V. 84, p. 1199.
County (P. O. Petersburg), Ind.—Bond Sale.—This
Reeves County (P. O. Pecos), Texas.—Bond Sale.—This
county recently awarded an issue of $7,000 4J^% Bainbridge
county recently awarded $12,000 bridge bonds to the School
Township rock-road bonds to the National Bank of Ferdi¬ Fund.
nand for $7,170, the price thus being 102.428.
Richmond County (P. O. Rockingham), No. Car.—Bond
Pleasantville, Westchester County, N. Y.—Bond Sale.—
Offering.—Proposals
will be received until 12 m. July 8 by
On June 12 the two issues of 5-29-year (serial) registered
the County Commissioners, H. S. Ledbetter, Chairman, for
water-works bonds, aggregating $8,000, described in V. 84,
the following bonds:
p. 1386, were awarded to George M. Hahn of New York
$10,000 6% Steeles Township pood-road bonds.
Maturity 30jyears.
City as 5s.
5,000 6% Black Jack Township pood-road bonds.
5,000 6% Mineral Sprlnps Township pood-road bonds.
Maturity 30
Pomona, Los Ang;eles County, Cal.—Bond Offering.—
years.
Interest semi-annual.
Proposals will be received until 2.30 p. m. July 16 by T. R.
Trotter, City Clerk, for the $40,000 4^% coupon school¬
Rockford School District No. 23 (P. O. Rockford), Spo¬
building and site-purchase bonds voted on March 28. Au¬ kane County, Wash.—Bond Offering.—Proposals will be
thority the Municipal Improvement Act of Feb. 25 1901. received until 1.30 p. m. to-day (June 22) by E. K. Erwin,
Denomination $1,000.
Date July 1, 1907. Interest semi¬
County Treasurer, for $6,000 6% school-house-erection bonds.
annually at the City Treasurer’s office. Maturity $1,000 Denomination $1,000. Date July 1 1907. Interest annu¬
yearly on July 1 from 1908 to 1947 inclusive. Certified ally at the County Treasurer’s office in Spokane or at the
oheck for 10% of bid, payable to the City Clerk, is required.
Fiscal Agency of the State of Washington in New York
Purchaser to pay accrued interest.
The official circular City. Maturity July 1 1927, subject to call after July 1
•states there has never been any controversy or litigation
Bonds are exempt from taxation.
1915.
Bonded debt,
pending or threatened affecting the corporate existence or including this issue, $11,000. Floating debt, $2,108. As¬
the boundaries of the City of Pomona, or the title of its
sessed valuation 1906 $268,292.
present officials to their respective offices, or the validity
Rockingham, Richmond County, No. Car.—Bond Offering.
of their bonds, and that there has never been any default
will be received until July 17 byr W. L. Scales,
—Proposals
in the payment of principal or interest.
Treasurer, for not less than $30,000 nor more than $40,000
Port Chester, Westchester County, N. Y.—Bond Offering.
5% coupon water-works and sewerage-system construction
—Proposals will be received until 8 p. m. July 1 by the bonds. Authority an Act of the General Assembly of 1907.
Bids to be based on bonds running
Board of Trustees for $53,750 4>£% gold highway, sewer Interest semi-annual.
for thirty years, forty years or fifty years and to be accom¬
and fire-apparatus bonds.
Securities will be dated July 1
panied by a certified check for $500.
1907.
Leander Horton is Village President.
Ross County (P. O. Chillicothe), Ohio.—Bond Offering.—
The official notice of this bond offering will be found among
Proposals will be received until 12 m. June 24 by Charles H.
the advertisements elsewhere in this Department.
Pinto, County Auditor, for $20,000 5% coupon bridge bonds.
Portland, Cumberland County, Me.—Note Offering.—Pro¬ Authority Section 871, Revised Statutes. Denomination
posals will be received until 11 a. m. to-day (June 22) by $1,000. Date July 1 1907. Interest semi-annually at the
Maturity $2,000 every six
David Birnie, City Treasurer, for the discount of $100,000 County Treasurer’s office.
months from Jan. 1 1910 to July 1 1914 inclusive.
Certified
temporary-loan notes. Denominations to be named in bids. check for $500,
payable
to
the
County
Auditor,
is
required.
Date day of issuance.
Maturity Oct. 1 1907.
Pike
NEW LOANS.
NEW LOANS.
0606,000
$29,000,000
CITY OF ITHACA, N. Y.
NEW YORK CITY
WATER BOND8
Sealed proposals for
or
any
the purchase of the whole
$666,000 00 of
part of, approximately.
water bonds of the City of Ithaca,
suant to Chapter 181 of the Laws
New York for 1903, as amended by
N. Y., pur¬
of the State of
the Laws of
1907, will be received by the undersigned at any
time previous to the evening of June 24, 1907.
Such proposals to be upon the basis of long-term
bonds at 4 %, and bonds payable at the option of
the City at the expiration of five years at 4 V2%.
Cent.
GOLD TAX EXEMPT STOCK AND BONDS
Four (4%) Per
Registered Form.
Interchangeable at will after purchase.
Issued
Any Information desired will be furnished upon
application.
The City reserves the right to reject
any and all bids.
RANDOLPH HORTON,
Attomey for Ithaca Water Board.
Savings Bank Building,
Ithaca, N. Y.
in Coupon or
To be sold Friday,
At
2
o’Clock P. M,
AS
Perry, Coffin & Burr,
INVESTMENT BONDS.
60 State
Street,
June 28, 1907,
FOLLOWS:
$26,500,609 Corporate Stock, Payable May 1, 1957
2,669,660 Assessment Bonds, Payable May 1, 1917
EXEMPT FROM TAXATION, EXCEPT
BOSTON.
FOR STATE PURPOSES.
566,666 Corporate Stock, Payable May
1, 1957
EXEMPT FROM ALL TAXATION.
ERVIN
& COMPANY,
BANKERS,
Meaiben
BONDS
43
(New York Stock
Exchange,
{Philadelphia Stock Exchange.
INVESTMENT,
FOR
Exchange Place,
Send bids in a sealed envelope, enclosed
TWO PER CENT. CWF PAR VALUE MUST
In the addressed envelope. A DEPOSIT OF
ACCOMPANY BID. Such deposit must be in
certified check upon a solvent Banking Corporation.
Record,” published at Room No. 2 City llall, New
money or
“City
Consult any
Drexel Building,
Philadelphia.
New York
THESE STOCKS AND BONDS ARE
LEGAL INVESTMENTS FOR TRUST FUNDS
Bank
or
Trust Company, or address
HERMAN A. METZ, Comptroller City of New York
280 B -oadway,
New York.
INVESTMENT BONDS
Llttfl BfMii
Denison &
THE
PRIMROSE & BRAUN,
request.
Farnsworth,
New
York City
Bank, Trat
Fire Insurance Steak*
NORTHERN AUDIT^CO.
GLBVEliAirD and PHILADELPHIA.
43 Exchange Place
-
32 Broadway,
mm
BOMTON
-
For fuller information Bee
York.
NEW YORK
CHA8
New York
GRISWOLD BOURNE, President
Telephone 4592 Broad
[VOL.
.THE CHRONICLE
1506
LXXXIV
Rowland, Robeson County, No. Car.—Bond, Sale.—On thorized the issuance of $150,000 5% school bonds by a vote
bonds de¬ of 625 to 148. Denomination $100, $500 and $1,000. InCooper at tere stannual. Maturity $10,000 yearly, beginning six years
from date of issue.
par and accrued interest for Os. Bids were also received from
W. J. Hayes & Sons of Cleveland, L. S. Covington and S. A.
Sandusky, Erie County, Ohio.—Bond Offering.—Propos¬
Kean of Chicago.
Securities are dated July 1 1907.
als will be received until 12 m. July 12 by Alex. M. Wagner,
Rutland, Rutland Co., Vt.—Bond Offering.—Proposals will City Auditor, for the following bonds:
be received until 7.30 p. m. July 1 by Will L. Davis, City $5,000 4% coupon sewer-construction (city’s portion) bonds, mention of
which was made In last week’s Issue
Date March 1 1907.
Clerk, for $50,000 4% gold coupon school-building bonds.
Maturity March 1 1916.
Authority Act 285, Laws 1894. Denomination $1,000.
6,000 4 % street-paving' (city’s portion) bonds.
Date July 1 1907. Ma¬
Date May 1 1907.
turity July 1 1918.
Interest semi-annually at the First
8.000 4% Fire Department equipment bonds.
Date March 1 1907.
National Bank of Boston.
Maturity thirty years. Certi¬
Maturity March 1 1917.
fied check for $1,000, payable to Will. L. Davis, City Clerk,
Denomination $1,000.
Interest semi-annually at the City
is required.
Treasurer’s office.
Certified check for $1,000 is required.
St Clair Heights, Wayne County, Mich.—Bond Sale.—We
have just been advised that on Feb. 25 the two issues of 6%
Sayre, Bradford County, Pa.—Bond Sale.—This borough
1-4-year (serial) lateral sewer bonds, aggregating $12,608.80, recently awarded the $15,000 4% gold coupon funding and
offered on Feb. 23 (V. 84, p. 352), were awarded to the sewer bonds (the unsold portion of the $25,000 mentioned
Bumpus-Stcveils Co. of Detroit at par and accrued interest. in V: 84, p. 1266), to the National Bank of Sayre at par.
St. Cloud, Stearns County, Minn.—Bond Offering.—Pro- Description of these bonds is given in V. 84, p. 1199.
osals will be received until 10 a. m. July 1 by Barney VossScotland County (P. O. Memphis), Mo.—Bond Offering.—
erg, City Clerk, for $50,000 5% coupon refunding bonds.
Proposals will be received until 12 m. to-day (June 22) by
Authority Chapter 62, General Laws of 1907. Denomina¬ S. A. Hammond, County Treasurer, for $50,000 4% court¬
tion $1,000.
Interest payable at the City Treasurer’s office. house bonds. Interest semi-annual. Maturity $10,000
Maturity fifteen years.
yearly beginning one year from date of bonds. Official cir¬
cular states that “the court gives the purchaser the privilege
St Frances Levee District, Ark.—Bids Rejected.—No sale
of returning the first maturing $10,000 at cost.”
was made on June 15 of the $500,000 6% 30-40-year (op¬
tional) coupon levee-building bonds described in V. 84,
Sharon, Mercer County, Pa.—Bond Election.—An elec¬
p. 1446.
tion will be held in this borough June 25 to submit to the
St. Paul, Minn.—Certificate Issue.—On June 15 this city
voters~a proposition to issue $100,000 4% bonds.
sold to local investors at par $1,687,100 4% tax-levy cer¬
tificates in anticipation of the 1907 taxes.
Shreveport, Caddo Parish, La.—Bonds Not Sold.—No bids
Interest semi¬
were received on June 11 for the $75,000 city-hall and the
annual.
Maturity June 15, 1908.
San Antonio, Tex.—Bond Sale.—According to local re¬ $40,000 park-purchase 4% 40-year coupon bonds described
in V. 84, p. 1325.
ports the $38,000 5% Improvement District No. 9 bonds,
the $43,000 5% Improvement District No. 10 bonds and the
Story County (P. O. Nevada), Iowa.—Bond Sale.—On
$57,000 Improvement District No. 11 bonds, mention of May 23 this county awarded $5,410 6% 10-year Richland
which was made in V. 84, p. 956, have all been disposed of.
Township Drainage District No. 10 bonds to the Farmers’
Bank of Nevada at par for 6s.
San Diego School District (P. O. San Diego), San Diego
Denomination $500. Date
County, Cal.—Bonds Voted.—This district on June 12 au¬ June 1 1907. Interest semi-annual.
June 15 the 12,500 30-year coupon school-building
scribed in V. 84, p. 1324, were awarded to C. J.
NEW LOANS.
NEW LOANS.
§1,000,000
§63,760.
OF
CITY
LOUISVILLE, KY.,
SEWER BONDS
Office of the Commissioners of Sewerage of Louis¬
ville, Rooms 505 and 507 Equitable Building,
corner of Fourth Avenue and Jefferson
Streets, Louisville, Ky.
June 13th, 1907.
The Mayor of the City of Louisville has deliv¬
ered to the Gommi^l mers of Sewerage? of Louisvll'e for sale One Million Dollars ($1,000,000) of
th" bonds of the City of Louisville, Issued by
authority of an Act of the General Assembly of
the Commonwealth of Kentucky, approved the
19th day of February, 1906, entitled “An Act to
Enable Cities of the First Class to Construct a
Comprehensive System for the Disposition of
Sewerage,” and executed under the provisions
of
an
Ordinance
of the
General Council of the
City of Louisville passed In accordance with said
Act numbered 258 of the series of 1906, ent tied
“An Ordinance Concerning the Issuance of Bonds
of the City of Louisville In the sum of $4,000,000
for the Construction of a Comprehensive System
for the Disposition of Sewerage, approved
tober 2nd, 1906, and published, as required
Oc¬
by
law. on October 9, 1906.
The bonds are of the denomination of One
Thousand Dollars ($1,000) each, dated Februarj'
1, 1907, become due and payable forty years after
date, and bear Interest at the rate of four per cent
The bonds have been declared valid by judgment
of the Court of Appeals, the court of last resort
within the State of Kentucky.
Sealed proposals for the purchase of the whole
or anv
number of said bonds will be received by
Commissioners of Sewerage until TWELVE
O’CLOCK ON THE 10TH DAY OF JULY 1907
at the office of said Commissioners In the Equita¬
ble Building at the corner of Fourth Avenue and
Jefferson Street In the City of Louisville, Ken¬
the
tucky.
bidder.
No proposal wllFbe considered for less than the
ar value of said bonds, and must be accompanied
y a certified check on a national or State bank
doing business in the City of Louisville, for two
per centum of the face value or the whole number
of bonds proposed to be purchased by such bidder.
Checks will be returned to unsuccessful bidders.
Purchasers will pay accrued interest from the
date of said bonds until the delivery thereof.
Bonds will be ready for delivery In the City of
Louisville at the ofifee of the Commissioners of
Sewerage. In said Equitable Building, as soon as
any
are
made to successful bidder or
bidders.
A failure to deposit a certified check In full pay¬
ment of the amount Of bonds bid for and allotted
present standard weight and tlneness and nego¬
tiable and payable to bearer at the First National to any bidder, on ten days’ notice that same are
Bank of the City of New York In the State of ready for delivery, may be, at the option of the
Commissioners of Sewerage, considered as a can¬
New York.
The bonds are exempt from all forms of taxa-, cellation of the bid.
The amount of the check accompanying the
tlon for municipal purposes of the City of Louis-'
ville, and are made a charge upon the Sinking bid will be held for the payment of any expense
Fund of said City.
A tax Is to be levied on all or damage caused by reason of the failure to pay
the property subject to municipal taxation In the for said bonds to the extent of any such expense
City of Louisville sufficient to pay the principal or damage Incurred.
Further information will be given and copies of
and Interest of said bonds, and is ordered to be
annually collected and paid Into the Sinking Fund prospectus furnished upon application.
CHAS. P. WEAVER,
P. L. ATHERTON,-.
of the City of Louisville to be used alone for the
Secretary & Treasurer.
Chairman.
payment of the principal and Interest thereof.
per annum, payable semi-annually, with Interest
coupons attached; principal and Interest payable
In gold coin of the United States of America of
Highway, 6ewer and Fire Apparatus Bends.
Proposals will be received by the trustees of
village of Port Chester, N. Y., until 8
O’CLOCK P. M., JULY 1ST, 1907, for the pur¬
chase of $53,750 gold bonds to be Issued by said
village, dated July 1st, 1907, with interest pay¬
able at the rate of 4^ per centum per annum.
Full particulars thereof may be obtained by ad¬
dressing the Clerk of said village.
Dated Port Chester, N. Y,, June 21st, 1907.
LEANDER HORTON. President,
Village of Port Chester, N. Y.
the
Proposals must be made upon blanks
furnished by the Commissioners of Sewerage and
marked “Proposals for Bonds."
The Commis¬
sioners of Sewerage reserve the right to reject
any or all bids or to accept the whole or any part
of a bid for the bonds proposed to be purchased
by
VILLAGE OF PORT CHESTER, N. Y.
allotments
New Orleans
Real Estate,
Securities
*13 CAMP ST.,
-
Mortgage &
Company
NEW ORLEANS, LA.
CAPITAL PAID
IN, $600,000
Dealers In
Southern Municipal Securities
and Real Estate Loans
The] South to-day presents the promise of
the greatest industrial advancement
A
Financial
Or
a
Courtship
Plea for Conservative
Investment*
(By Pitak W. ReMtaC
FILE COVERS
a
y
chronicle
AND SuppLEMENTS
String file oevers may be had for
in six different
8L, Boston.
bolding the Cheonicle and Supplements
styles as below:
50 Cents.
Postage, 18 Cents
Charge for Binding Volumes, $1 50.
Price for File Covers,
WILLIAM B. DANA CO., Publishers.
76H PINE STREET, CORNER PEARL STREET, NEW YORK.
The above book will be furnished
without cost on application to
E. H. ROLLINS & SONS, 21 Milk
MUNICIPAL AND RAILROAD
BONDS.
LIST ON APPLICATION.
SEAS0NG00D & MAYER,
Mercantile Library Building,
CINCINNATI.
1507
THE CHRONICLE
June 22 1907.
Terry School District,
Fresno County, Cal.—Bond Sale.—
On June 10 the $9,000 5% 1-10-year (serial) school-building
bonds described in V. 84, p. 1387, were awarded to the
103.577—a basis of
People’s Savings Bank of Fresno at
about 4.264%.
Following are the bids:
People’s Sav. Bk.f Fresno..$9,322 00 |S.
H. C. Rodgers, Los Angeles 9,176 501
$9,054 00
A. Kean, Chicago
Washington Township School District (P. O. Nashville),
Ind.—Bond Sale.—On June 15 the $3,000
Brown County,
2-6-year (serial) coupon school-building bonds, described in
V. 84, p. 1388, were awarded to J. F. Wild & Co., of Indian¬
apolis, at 100.05 for 4s. A bid of par was also received from
Q
Jas. L. Tiltore of Nashville.
Wauseon, Fulton County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. July 8 by L. H. Deyo,
Village Clerk, for $11,413.20 4J/£% North Fulton Street
improvement
bonds. Authority Section 2835, Revised Stat¬
4.443%. Denomination $500. Date June 15 1907. Inter¬ utes. Denomination
$600 except one bond for $613.20.
est semi-annual.
Date May 1 1907.
Interest semi-annually March 1 and Sept.
Trenton, Ont.—Debenture Offering.—Proposals will be re¬ 1. Maturity $613.20 on March 1 1908 and $600 each six
ceived up to June 25 by G. W. Ostrom, Town Clerk, for months from
Sept. 1 1908 to March 1 1917 inclusive. Cer¬
$25,000 4% debentures. Maturity part yearly for thirty tified check for 5% bonds bid for, payable to the Village
years.
Treasurer, is required. Accrued interest to be paid by
Unionville School District (P. O. Unionville), Putnam purchaser.
County, Mo.—Bond Offering.—The election held June 15 re¬
Waverly, Humphreys County, Tenn.—Bond Sale.—On
sulted in a vote of 203 to 94 in favor of the proposition to
June 15 the $9,000 6% 5-10-year (optional) coupon schoolissue the $5,000 5% 10-20-year (optional) building bonds
bonds described in V. 84, p. 1141, were
mentioned in V. 84, p. 1447.
Denomination $500. Date improvement
awarded to the First National Bank of Barnsville at 101.122.
July 1 1907. Interest semi-annual. These securities will The
following bids were received:
take the place of the $4,000 bonds voted on May 9.
See First Nat.
Bk.,Barnsville,O.$9,101 001 Volunteer State Life Insur.
V. 84, p. 1201.
The first election was found to be illegal. S. A. Kean, Chicago
Co., Chattanooga, Tenn_$9,000 00
9,099 001
Proposals for these bonds will be received until June 24.
We are informed that quite a number of bids from local
Vassar, Tuscola County, Mich.—Bond Sale.—We are in¬ people were also received.
formed that the $10,000 funding and improvement bonds
Waxahachie, Ellis County, Texas.—Bond Sale.—This city
recently voted by this city (V. 84, p. 1387), were awarded
recently
disposed of the $7,400 water-works-system-im¬
to local investors.
bonds mentioned in V. 84, p. 1388.
provement
Vegreville, Alta.—Debenture Offering.—Proposals will be
Winchester,
Clark County, Ky.—Bond Offering.—Further
received until 6 p. m. June 30 by F. A. Morrison, Secretary
and Treasurer, for $9,200 6% debentures.
Maturity part details are at hand relative to the offering on June 25 of the
$40,000 4% coupon sanitary-sewer-system-construction
yearly for 20 years.
bonds mentioned in V. 84, p. 1448.
Proposals will be re¬
Vincennes School City, Knox County, Ind.—Bond Sale.—
ceived until 2 p. m. on that day by W. A. Attersall, Mayor.
On June 17 the $35,000 4% 6-10-year (serial) coupon school
Authority election held Nov. 6 1906. Denomination $1,000.
bonds, dated July 1 1907 and described in V. 84, p. 1387, Date July 1 1907. Interest semi-annually at Wincehster.
were awarded to Charles C. Wedding & Co. at 103.285 and
Maturity July 1 1927. Certified check for $500 (or cash)
accrued interest.
Following are the bids:
$35,612 50
payable to N. H. Witherspoon, City Auditor, is required.
Chas. C. Wedding & Co..$36,150 00' Breed & Harrison, CIn
Bonded debt, including this issue, $55,000.
Rud. Kleybolte & Co.,Chic 35,763 00 Harrison Tr. & S. B., Chic. 35,536 00
Assessed valua¬
J. F. Wild & Co., Indian.. 35,225 00
Tomah, Monroe County, Wis.—Bond Sale.—This city on
June 15 awarded $10,000 5% 15-year (average) sewer bonds
to A. B. Leach & Co. of Chicago at 106.06—a basis of about
Chic.. 35,725 55
Campbell & Co.,Ind. 35,675 00
Dick, Miller & Co.,
E. M.
tion $3,500,000.
$691,000.00
0360,000
035,000
Bullitt County
NEW LOANS.
LOANS
NEW
NEW LOANS.
City of Minneapolis
Kentucky, Montgomery, County, Alabama,
BOND8
PUBLIC ROAD BONDS
ROAD BONDS
Sealed bids will be received up to noon,
JUNE 25. 1907, at Shepherdsvllle. Kentucky,
for the purchase of $25,000 00 of Road bonds
Bullitt County, Kentucky, made payable to
bearer, and drawing Interest at four and one-half
of
Notice Is hereby given that the
Board of Reve¬
of Montgomery County, Alabama, will receive
sealed bids until 12 o clock noon on MONDAY
the FIRST OF JULY 1907 for all or any portion
of an Issue of two hundred and fifty thousand
dollars ($250,000) of Public Road Bonds of the
nue
ealed bids will be received by the Committee
Ways and Means of the City Council of the
City of Minneapolis, Minnesota at tho office of
the undersigned, WEDNESDAY, JUNE 26.
1907, at 2’oclock p. m. for the whole or any
part o $441,000 00 School Bonds and for the
whole or any part of $150,000 00 Park Bonds.
Said bonds bear Interest at the rate of four
per cent (4 %) per annum, payable semi-annually,
dated July 1, 1907, and payable July 1, 1937.
The right to reject any or all bids is reserved.
A certified check for two per cent (2 %) of the
on
(4^ %) per cent per annum from June 1, 1907,
payable semi-annually at the Fidelity Trust Com¬ County of Montgomery, said bonds being of the
pany of Louisville, Ky., as follows:
denomination of five hundred dollars each and
20 $100 bonds payable in five years
being dated the first day of July 1907 and pay¬
6 $500 bonds payable in five years
able on the first day of July 1957, and bearing
6 $500 bonds payable In seven years
Interest from the date of the said bonds at the
8 $500 and 1 $1,000 bonds, payable in ten years rate of four and a half per cent per annum,
6 $1,000 bonds payable In fifteen years
par value of the bonds bid for, made to C. S.
interest payable semi-annually, principal and
Hulbert, City Treasurer, must accompany each
6 $1,000 bonds payable In twenty years.
Interest payable In the City of New York at the
bid.
Any of said bonds may be redeemed after fif¬ fiscal agency or at the office of the County Treas¬
Circular containing full particulars will be
teen (15) years from date of Issue at the option
urer.
Each bid must be accompanied by a mailed on
application.
of the county.
The right to reject all bids re¬ certflied check for one per cent of the amount of
DAN. C
BROWN.
served, and bonds will not be sold for less than the said bid, said check payable to the order of
City Comptroller.
face value and accrued Interest.
S. T. Westcott. Clerk of the Board of Revenue.
Information furnished on application.
The checks of unsuccessful bidders will be re¬
J, F. COMBS,
turned to them when the bids are opened and
Commissioner.
decided upon and the check of the successful
bidder to be retained to secure faithful perform¬
ance of the bid.
The right is reserved to reject
^450,000
any
Sealed bids will be
Albert
Bonds.
received by the Board
of
York.
Further particulars with reference
bonds and blank forms for bids can be
L.
and
Pensacola, Florida.
Blodget, Merritt & Co
BANKERS,
60 State Street,
Speer & Sons Co.
First Nat, Bank
Buildiug, Chicago
DnMHQ
COUNTY
AND TOWNSHIP
CITY
86 Congregg Street,
BOSTON.
87 Wall Street,
NEW YORK.
City Bonds
EXEMPT FBOM STATE, COUNTY
AND CITY TAXES
Service
Specialists in New Jersey Securities.
Correspondence Solicited
eisele a king,
Donald,McGoy & Go.,
AND CORPORATION
BONDS.
BONDS wIthout COUPONS
.
CO.,
BANKER8,
New York
RAILROAD BONDS. 181 La Salle Street, Chicago.
Established 1888.
&
Securities
MUNICIPAL
Boston
STREET, NEW YORK.
STATK riff &
H. C.
Mac
,
DAY
Street,
High-Grade Public
HILTON GREEN.
ChalrmanABoard of Bond Trustees,
30 NASSAU
Walnut
Municipal,
State,
County,
Dillon & Hubbard of New
to said
had on
application to the undersigned or to the United
States Mortgage & Trust Company. New York.
proved by Messrs.
L.
WESTCOTT,
CINCINNATI, O.
of $450,000 W2%
Pensacola,
will be ap¬
Improvement Bonds of the City of
Florida.
The legality of the bonds
R.
of Montgomery County
Kleybolte & Co.,
409
Florida,
for
Bond Trustees of the City of Pensacola.
until JULY 9TH, 1907. at 12 o’clock noon
the purchase of all or any part
S. T.
Clerk of Board of Revenue
PENSACOLA, FLORIDA,
4J^% Improvement
and all bids.
with steel-plate
borders, or lithographed, or part¬
ly printed from type.
If the latter, then can be
DELIVERED IN FEW
DAYS
Certificates engraved In best manner, or
llthoitraDhed and partly printed
ALBERT B. KING & CO.,
partly
BANKERS,
Members of New York aad Philadelphia
Stock Bxohanges.
757-759 Bread 8t.
Private Wires to
N.Y. and Philadelphia.
NEWARK,
F. B. SHERMAN &
MUNICIPAL
AND
CO.
[bonds
CORPORATION )
200 Broadway, N. Y, 20S La Salle Street,
CHICAGO
Westchester
County (P. O. White Plains), N. Y.—Bond
Sale.—On June 20 the $27,677.04 4J^% registered tempo¬
rary-loan bonds, the $275,000 4J^% registered court-house
bonds and the $64,579.75 43^% registered funding bonds
described in V. 84, p. 1447, were awarded to O’Connor &
Kahler of New York City at 100.08, 103.18 and 102.98
respectively.
West New York, Hudson County, N. J.—Bond Sale.—
On June 18 the $200,000 5% 30-year registered or coupon
funding bonds described in V. 84, p.1388, were awarded to
the Hudson Trust Co. of Hoboken at 101 and accrued inter¬
est—a basis of about 4.936%.
Bonds Not Sold.—No bids were received for the $10,000
5% 10-year registered
day.
coupon street-opening bonds of¬
See V. 84, p. 1388, for description
or
fered on the same
of these securities.
White County (P. O. Sparta), Tenn.—Price Paid for
Bonds.—We are informed that the price paid for the $60,000
5% pike bonds awarded to John Nuveen & Co. of Chicago
May 29 (V. 84, p. 1388) was $61,000, or 101.066. De¬
nomination $1,000.
Date July 1 1907. Interest annual.
Maturity $30,000 on July 1 1917 and $30,000 on July 1 1927.
Wilmington School District (P. O. Wilmington), New
Castle County, Del.—Bond Sale.—This district on May 30
awarded the $60,000 6-8-year (serial) coupon school-building
bonds described in V. 84, p. 1075, to Henry P. Rumford
of Wilmington at 100.416 for 4J^s—a basis of about 4.431%.
Woodsfield, Monroe County, Ohio.—Bond Sale.—On June
15 the $6,093 78 5% coupon street-improvement assessment
bonds described in V. 82, p. 1389, were awarded to Hoehler &
Cummings of Toledo at 103.208 and accrued interest. Fol¬
lowing are the bids:
on
Hoehler & Cummings, Tol_$6,289 28| First Nat. Bk., Woodsfteld.$6,215 65
B. B. Patnam, Marietta
6,240 791 F. L. Fuller & Co., Cleve__ 6,195 28
Secur. S. B. & Tr. Co., Tol. 6,232 03 | Hayden,Mlller&Co., Cleve. 6,154 78
Otis & Hough, Cleveland-. 6,218 781
Maturity $304.69 each six months from March 1 1908 to
Sept. 1 1917 inclusive.
Woonsocket, R. I.—Bond Offering.—Proposals will be
received until 4p.m. June 24 by S. P. Cook, City Treasurer,
for the $200,000 43^% 20-year refunding and $200,000 4%
OFFICE
OF
chaser to pay
accrued interest.
Wyandotte, Wayne County, Mich.—Bond Offering.—Pro¬
posals will be received until 7.30 p. m. June 26 by the Com¬
mon Council at the office of James G. Pinson, City Clerk,
for the $24,000 4J^% street-paving-intersection bonds men¬
tioned in V. 84, p. 958.
Authority an Act of the Legislature
approved March 26.1907. Denomination $1,000. Date
July 1 1907. Interest semi-annually at the Wyandotte
Savings Bank of Wyandotte. Maturity July 1 1937. Cer¬
tified check for $1,000, payable to the ‘‘City of Wyandotte,”
is required.
Accrued interest to be paid by purchaser.
Yonkers School District (P. O. Yonkers), Westchester
County, N. Y.—Bond Sale.—This district, it is stated, reccently awarded $11,200 4% school bonds to the People’s
Savings Bank of Yonkers at par.
Youngstown School District (P. O. Youngstown), Ma¬
honing County, Ohio.—Bond Offering.—Proposals will be
received until 12 m. July 1 by the Board of Education, for
$52,000 43^% coupon school bonds. Authority Section 3994,
Denomination $1,000. Interest semi¬
Revised Statutes.
annually at the City Treasurer’s office. Maturity $13,000
yearly on Sept. 1 from 1921 to 1924 inclusive. An uncon¬
ditional certified check for 10% bonds of bid for is required.
John G. Morgan is President of Board of Education.
Zanesville, Muskingum County, Ohio.—Bond Sale.—On
June 15 the $3,500 4% 1-7-year (serial) coupon levee bonds
described in V. 84, p. 1268, were awarded to W. T. Beach
of Zanesville for $3,526 (100.742) and accrued interest—a
basis of about 3.80%.
This was the only offer received.
Bonds Not Sold.—No bids were received
the $1,800 4% registered fire-department
MISCELLANEOUS.
CaSurplu8 ° $11,000,000
THE
New York, January
Total
on
on
22(1, 1907.
Charter of the Company, submit the follcnving statement of its affairs
on the 31s* of December, 1906.
Marine Risks from 1st January, 1906, to 31st
Policies not marked oil 1st January, 1906
December, 1906
$3,190,241 67
582,191 98
$3,772,433 65
Marine Premiums
Premiums marked of! from 1st January, 1906, to 31st
Interest received during the ycdr
$3,081,714 32
December, 1906
$356,457 98
125,501 85
Rent, less Taxes and Expenses
Title
Losses paid during the year which were estimated In 1905
and previous years
$309,817 14
;
Losses occurred, estimated and paid In 1906
1,009,224 32
$107,176 57
150,190 74
guarantee
andTRCST COMPANY
176 Broadway, New York.
175 Rem sen Street, Brooklyn.
196
Montague Street, Brooklyn Banking Dept.
JBasesmines Jt guarantees Real
Ism ns
Furnishes
Does all Trust
Special deposits In Banks and Trust Companies.
Real Estate corner Wall and William Sts., and Exchange
Other Real Estate and claims due the Company
Premium notes and Bills Receivable
Cash In
hands of European Bankers to pay
countries
Cash In bank
_
Place
Charge of Banking Interests
CLARENCE H. KELSEY.
EDGAR L. MARSTON.
WILLIAM H. NICHOLS.
257,367 31
JAMES H. OLIPHANT.
CHARLES A. PEABODY.
JACOB H. 8CHIFF.
JAMES SPEYER.
EDWARD O. STANLEY
$344,098 27
CLARENCE H. KELSEY, President.
$5,697,108 00
700,966 67
$4,299,000 00
75,000 00
4,374,000 00
1,191,974 88
271,142 54
562,631 63
$12,797,823 72
Aggregating
Company Business.
EDWARD T. BEDFORD.
$1,319,041 46
losses under policies payable In foreign
-----
check, allowing
FINANCE COMMITTEE.
$481,959 83
$62,411 11
Returns of Premiums
Mortgages ts Investors.
Receives Deposits subject to
Interest.
$1,061,674 15
Expenses, Including officers’ salaries and clerks’ compensation, sta¬
tionery, newspapers, advertisements, etc
The Company has the following Assets, viz.:
Estate Titles,
Money on Bond and Mortgage.
In
Less Salvages
Re-insurances
June 15 for
on
bonds and the
$213 24 4% registered work-house bonds described in V. 84,
A bid of par less $100 for attorney’s fees sub¬
p. 1268.
mitted by Weil, Roth & Co. of Cincinnati was the only
offer received for the $12,000 4% 1-12-year (serial) coupon
water-works bonds offered on the same day.
This bid was
rejected.
ATLANTIC MUTUAL INSURANCE COMPANY.
Tue Trustees, in conformity with the
LXXXIV
30-year funding gold coupon (with privilege of registration)
bonds mentioned in V. 84, p. 1071.
Denomination $1,000.
Date June 1 1907.
Interest payable at First National Bank
of Boston.
Bonds to be delivered about July 10.
Pur¬
MISCELLANEOUS.
Premiums
Premiums
[VOL.
THE CHRONICLE.
1508
A dividend of Six per cent Interest on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the Fifth of February next.
The outstanding certificates of the Issue of 1901 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the fifth of February next, from which date
all interest thereon will cease.
The certificates to be produced at the 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, 1906, for which, upon application, certificates will be issued on and
after Tuesday the seventh of May next.
By order of the Board,
G. STANTON FLOYD-JONES, Secretary.
FRANK BAILEY. Vice President.
EDWARD O. STANLEY, Second Vice President.
Manager Banking Department.
CLINTON D. BURDICK Third Vice President.
J. WRAY CLEVELAND,
Secretary.
ARTHUR TERRY, Treasurer.
FRANK
L. SNIFFEN
Manager
Department.
Brooklyn Banking
Atlantic Mutual Insurance Company Scrip
of All Years Bought and Sola.
JOHNNo.mTgILLESPIE,
Atlantic
Room
518
Building,
49-51 Wall Street,
NEW YORK.
NEW YORK CITY
TR USTEES.
GUSTAV AMSINCK.
FRANCIS M. BACON,
JOHN N. BEACH,
WILLIAM B. BOULTON,
VERNON H. BROWN,
WALDRON P. BROWN.
JOSEPH H. CHAPMAN.
GEORGE C. CLARK.
CLEVELAND H. DODGE,
CORNELIUS ELDERT,
RICHARD H. EWART,
HERBERT L. GRIGGS.
CLEMENT A. GRISCOM,
ANSON W. HARD,
MORRIS K. JESUP.
LEWIS CASS LEDYARD,
FRANCIS H. LEGGETT.
CHARLES D. LEVERICII,
LEANDER N. LOVELL,
GEORGE H. MACY.
CHARLES H. MARSHALL,
NICHOLAS F. PALMER,
HENRY PARISH.
DALLAS B. PRATT.
GEORGE W. QUINTARD,
A. A. RAVEN,
JOHN L. RIKER,
DOUGLAS ROBINSON,
GUSTAV II. SCHWAB.
WILLIAM A. -STREET..
RAVEN, President.
CORNELIUS ELDERT. Vice-President.
JAMES L. LIVTNGSTON, 2d Vice-President.
SANFORD E. COBB, 3d Vice-President.
CHARLES E. FAY, 4th Vice-President.
A.
A.
new
W. H. II. MOORE,
Issue
4% REGD. GOLD BONDS
MATURINO NOV
1956
T. W. STEPHENS &
2 Wall
CO„
Strett, New Terk.
BALTIMORE
Continental Building.
CHICAGO
1st Nat. Bank Bldg,
June 221907
©ompatties.
Trust
MercantileTrust Co.
50
Capital and Surplus, $9,500,000
WM. MAFFITT,
FESTUS J. WADE.
Treasurer
President.
.
City Square.
CHARLESTOWN. MASS.
Capital & Surplus,
$4,000,000
-
-
BOSTON, MASS.
Trust and
Transacts a General
Banking Business
1899
Commenced business Nov. 16,
STREET. BOSTON. MASS
STATE
BUNKER HILL
Association
Clearing House
St. Louts
CO. OLD COLONY
TRUST CO.
BRANCH:
TRUST
CITY
St. Louis* Mo
Member
XVII
THE CHRONICLE.
]
Interest Allowed on
RESOURCES
D<> osits Subject to
Capital and Surplus,
Check-
A GENERAL BANKING
ALLOWS INTEREST ON
BALANCES SUBJECT TO
DAILY
CHECK.
TRUSTEE UNDER MORTGAG¬
ES.
TRANSFER AGENT.
REGISTRAR.
TRANSACTS
other Mort¬ BUSINESS.
Registering
Acts as Trustee under Railroad and
gages; also as Agent for the
and Tsansfer of Stock.
Nov. 16.1899
$1,667,051 19
A
1900
$4,429,448 02
Nov. 16.
legal- Depositary for Court
ized to act as Executor-,
ministrator and
Funds, and author¬
Guardian, Ad¬
Trustee.
DIRECTORS.
Nov. 16, 1901
PHILIP STOCKTON. President.
George E. Keith,
Charles F. Adams 2d.
Gardiner M. Lana
Orlando H. Alford.
Arthur
Lyman,
F. Lothrop Ames.
Maxwell Norman,
John S. Bartlett,
Robert T. Paine 2d.
Charles E. Cottlng.
Andrew W. Preston.
Alvah Crocker,
Richard S. RusselL
Livingston Cushing.
Howard Stockton.
George A. Draper,
Charles A. Stone,
William F. Draper.
Galen N. Stone,
WUmot R. Evans.
Quincy A. Shaw Jr.,
Frederick P. Fish.
Nathaniel Thayer,
Robert F. Herrick.
Henry O. Underwood.
Francis L. Hlgglnson,
W. Seward Webb.
Henry C. Jackson,
Sidney W. Winslow.
$11,780,418 95
16.
Nov.
1902
$21,882,734 64
Nov.16,1903 $21,766,471 73
.
16,1904 $26,608,716 93
Nov.
Nov.
Nov.
16,1906 $27,292,163 67
16, 1906,
‘
Growth
CENTRAL
TRUST COMPANY
OF ILLINOIS,
CHICAGO
Capital,
-
-
CHARLES Q. DAWES,
W. IRVING OSBORNE.
A.
L.
President.
Vice-President
UHRLAUB, Vice-President,
WILLIAM R.
DAWES, Cashier.
a
General Trust
Banking Business.
Transacts
Acts as
•
•
•
Guardian,
McDowllL. Asst Secretary.
TRUST
Girard Trtist Company*
CAPITAL and
SURPLUS, $10,000,000.
CHARTERED 1856.
Acts as
Executor,
Administrator, Trustee,
Assignee and Receiver.
Financial Agent for Individuals or
Corporations.
Allowed on Individual and
Corporation Accounts.
Trustee of Corporation Mortgages.
Interest
Acts as
Depositary under Plans of Reorganiration.
Registrar and Transfer Agent.
Assumes entire charge of Real Estate.
Safes to Rent in Burglar-Proof Vaults.
B. B. MORRIS, President.
W. N. ELY. 1st Vice-President.
A. A. JACKSON, 2d
C. J. RHOADS, 3d Vice-Pres.
EDWARD S. PAGE,
Vice-President.
and Treasurer.
Secretary.
MANAGERS:
Effllngham B. Morris,
John A. Brown Jr.
Benjamin W. Richards
John B- Garrett.
William H. Jenks.
William H. Oow.
Francis I. Gowen,
McFadden,
Henry Tatnall,
Issac H. Clothier,
Thos. DeWltt Cuyler,
N. E. Cor. Broad and
Geo. H.
C. Hartman Kuhn,
James Speyer,
Augustus D. Jullliard
Edward J. Berwlnd.
Randal Morgan,
Edw. T. Stotesbuiy,
Charles E. Ingersoli,
John Story Jenks Jr.
Henry B. Coxe Jr.
E. C. Felton.
Chestnut Streets.
PHILADELPHIA.
The Trust Company
of North America
503-505-507 Chestnut St.,
CAPITAL
ADAM A.
HENRY G.
Philadelphia.
A Treasurer.
Superv*g Trust Dept.
A Asst Trust Officer
BRENGLE, 1st Vice-Pres.
DIRECTORS.
J. Levering Jones,
Henry G. Brengle,
James Crosby Brown, Malcolm Lloyd.
John Cadwalader,
E. W. Clark Jr.,
Eckley B. Coxe Jr..
Edwin S. Dixon,
Eugene L. Ellison,
Joseph C. Fraley.
Harry C. Francis,
Henry L.' Gaw, Jr.,
Howard S. Graham,
fcamuel F. Houston,
John
McIIhenny,
Richard Wain Melrs,
Clement B. Newbold.
John W. Pepper.
Wi Mam F. Read.
Frank Samuel.
Adam A. Stull,
Edward D. Toland,
Joseph R.
and
Wainwrlght,
William D. Wlnsor.
Robert J. Paine, 2d,
Philip L. Sal ton stall,
Nathaniel Thayer,
Lucius Tuttle.
Reginald Foster,
George P Gardner,
Charles W. Whittier.
Stephen M. Weld,
Robert F. Herrick,
The NEW ENGLAND
TRUST COMPANY,
Deposit Vaults
Safe
receive and
deposit from
Authorised to act as executor and to
hold money or property in trust or cm
Courts of Law or Equity. Executors. Administrators.
Assignees
Guardians, Trustees,
Corporations
$1,000,000
2,000,000
OFFICERS.
DAVID R.
WHITNEY, President.
CHARLES H. DALTON. Vice-President.
CHARLES F CHOATE, Vice-President.
FRANKLIN HAVEN. Vice-President.
JAMES R. HOOPER, Actuary.
HENRY N. MARK, Secretar- .
FRED K W. ALLEN. Asat-Sec-ATreas.
THOMAS B. EATON, Asst. Treasurer.
FRANCIS R. JEWETT. Trust amber
•
•
directors.
board op
CHARLES E. ROGERSON,
and
Also acts as Trustee under Mortgages and as Transfer
Agent and Registrar of Stocks and Bonds.
interest Allowed on Deposits Subject to Check.
Railroad and other
authorized to act as Executor,
Administrator and Trustee.
Capital - *• - Surplus (Earned)
SURPLUS. $2,900,000
CAPITAL* $1,000,000
Individuals.
on-Deposits Subject to Check
President.
JAMES LONGLEY, Vice-President.
WILLIAM C. WILLIAMS, Vlce-Prest.
G. E. GOODSPBED, Treasurer.
W. L. WHITNEY, Asst. Treasurer.
HENRY A. FJ3NN, Seo.AMgr.Safe D.Dt.
H. D. HBATHFIKLD, Assistant Sec.
F. J. BURRAGE, Assistant Secretary.
William Endloott, Gbatrmah•
Walter O. Bayhes.
Frederick p;
Fish, ■ •
Morris Gray,
Franklin Haven,
James R.
James M. Prendergaefc,
Alfred Bowdltch,
Charles F. Choate,
Alexander Cochrane,
Edmund D. Cod man,
T. J eCCersor. Cooiidge.
Charles H. Dalton.
George Dexter,
Philip Dexter,
Wiliam
George
S. Stlsbee,
M. Stockton.Nathaniel Thayer,
George Wiggles worth,
David R. Whitney.,
Lawrence
Farnsworth,
Valley Trust Co.
Mississippi
Fourth & Pine Sts,, St. Louis
CAPITAL,
^^^^Sjeoo.ooo.
GENERAL FINANCIAL AND
FIDUCIARY
BUSINESS TRANSACTED
Maryland Trust Co.
BALTIMORE.
DIRECTORS
John L Beggs
Wilbur F. Boyle
James E. Brook
Murray Cartotoa
Charias Clack
Horatio N. Davis
John D. Davis
Aug. B. Ewing
R. J. O'Reilly ,MD
Henry W. Peters
H. Clay Pierce,
S. E. Hoffman
Chaa. H. Hottlg J. Ramsey Jr.
James
E. Smith
Braekte'ge Jones
Robt. H. Stockton
D. R. Francis
CAPITAL,
August Getmer
W. J. McBride
Nelson W. McLeod
Julius S. Walsh
Saunders Norvell Itolla Wells
Wa D. Orthweln
OFFICERS
JULIUS S. WALSH.
Chairman of the Board
BRECKINRIDGE JONES, President
JOHN D. DAVIS, Vice-President
SAMUEL E. HOFFMAN, Vice-President
-
-
$2,000,000
DIRECTORS
Grier Hersh,
Ernest Hoen Jr.,
George C. Jenkins,
Joshua Levering,
Joslah L. BlackwelL
G. Clymer Brooke,
H. Carroll Brown,
John W. Castles,
Joseph R. Foara,
B. Howell Griswold Jr.,
A. Barton Hepburn,
John T. Hill,
Oscar G. Murray,
Henry F. Shoemaker,
James Speyer,
Douglas M. Wylie.
OFFICERS
C. HUNT
.President
GRIER HERSH
L. S. ZIMMERMAN
2d VIce-Prest.
CARROLL VAN NESS
.Treasurer
JERVIS SPENCER Jr...Asst. Treasure
LOUIS W.
IVAN
JAMES E. BROCK. Secretary
HUGH R. LYLE. Asst. Secretary
HENRY C. IBBOTBON, Aart. Secretary
TURNER Jr.. Asst. Secretary
FRICKE, Asst Secretary
FREDERICK VIERLING, Trust Officer
HENRY SEMPLE AMES. Asst Executive
CHARLES M. POLK, Asst. Trust Officer
WILLIAM G. LACKEY, Bond Officer
WM. MeC. MARTIN, Asst Bond Officer
Officer
Estate Officer
Officer
Wisconsin
NOW READY.
Trust Co.,
FINANCIAL REVIEW.
MILWAUKEE.
Capital,
Surplus,
---------
1907 ISSUE.
$600,000
100,000
General Trust Co. Business.
Buys and Sells
High Grade Investment Bonds.
Transactfl a
OFFICERS.
OLIVER C. FULLER,
Asst. Secretary
SKINNER
Officer
TOM W. BENNETT, Real Estate
GEO. KINQSLAND, Asst. Real
C. W. MORATH. Safe Deposit
STULL, President.
JOS. 8. CLARK, 2d Vioe-Prea..
CHAS, P. LINEAWEAVER, Sec.
Coolidge,
Philip Dexter.
Eben S. Draper,
Frederick P. Fish.
Trustee under
$1,000,000
-
Walter Hunnewell*
Thomas L. Livermore*
(Jharlee s. Mellen,
George v. L. Meyer,
Laurence Minot,
Richard Olney.
Charles E. Cotting,
Mortgages and is
Amt, OMbler.
BANKING, SAVINGS AND
DEPARTMENTS.
T. Jefferson
Chairman
...
-
Henry S. Howe,
BOSTON, MASS.
BOSTON, MASS
MANQ. Secretary.
MALCOLM
Deposit
Trust Company
Interest Allowed
DIRECTORS:
Jr.,
Samuel Carr,
B. P. Cheney,
AND
HKINNER. Asst. Cashier.
D.
WILLIAM W. OATES,
A. O.
Boston Safe
$2,000,000
900,000
-
-
-
Surplus and Profits
•
BOARD OF
T. Jefferson Cooudge
Gordon Abbott,
Oliver Ames,
C. W. Amory,
Charles F. Ayer,
$27,984,699 63
Good Service is Constant
The Proof of
$7,000,000
-
320
Pages.
yearly book of statistics covering a
of years' crop figures, money
rates, range of prices for securities, &c.
A
series
PRICE, TWO
DOLLARS.
President.
FREDERICK HASTEN, Vice-President
GARDNER P. STICKNEY. Treasurer.
FRED- C. BEST. Secretary
R. L, SMITH, Ass“t Secretary
Commercial & Financial Chronicle,
76^ Pine Street, New York.
i
!
XYIII
THE CHRONICLE
[VOL.
LXXXIY
gvnst ©mnumuies.
MANHATTAN
BANKCRS trust
COMPANY.
7 Wall
TRUST CO.,
WALL ST.
$3,000,000.
Surplus 8500,000
Undivided Profits, 8888,554
Pres. Bank of the
Manhattan
Co., New York.
JOHN
EDWARD F. SWINNEY,
HEPBURN,
Pres. Chase Nat. Bank, N. Y,
Pres. 1st Nat. B’k, Kansu City.
JOHN F. THOMPSON,
THOMAS W. LAMONT,
8AMUEL G. BAYNE,
GILBERT G. THORNE,
GATES W. McGARRAH,
EDWIN M. BULKLEY,
Pres. Mechanics' Nat. B’k,
Spencer Trask & Co., Bankers,
New York.
N. Y
EDGAR L. MAR8T0N,
JAMES G. CANNON,
Vice-Pres. Fourth Nat. Bk. N Y
EDMUND C. CONVERSE,
Blair &
Co., Bankers, New York.
J. P. Morgan & Co.,
B'kers, N.Y.
WILLIAM H. PORTER,
HENRY P. DAVISON
Pres. Chemical Nat. Bank, N. Y.
Vice-Pres. First Nat. Bank, N.Y
DANIEL G. REID,
WALTER E. FREW,
Vice-Pres. Corn Kxch. Ba„ N. Y.
Vice-Pros. Liberty Nat. B’k, N.Y.
Acts as Executor, Administrator and Guardian
Transfer and Flsoal Agent t and as Trustee
ALLOWS
INTEREST
J. F. THOMPSON
VICK-i’KZSIDENT
D. E. POMEROY
i
Vice-Pres. Nat. Park Bank. N.Y.
EDWARD TOWNSEND,
Vloe-Pres. Chase
New York.
Nat.
Bank,
8AMUEL WOOLVERTON,
Pres. Gallatin Nat. Bank, N.Y.
EDWARD F. C. YOUNG.
Pres. 1st Nat. Bank. Jersey City
Assignee and Receiver j Registrar,
and corporations.
for individuals
UPON DEPOSITS.
T. W. LAMONT
2D
E. C. CONVERSE
B. STRONQ JR.
HtmitTilT
F. N. B, CLOSE
ASSISTANT TREASURER
Ylee-
FRENCH,
Presidente.
The Manhattan Trust Company receives deposits
oearing Interest and subject to cheffne, payable
through the New York Clearing House.
DIRECTORS,
Frauds R. Appleton.
Robert Bacon.
James J. Hill.
John Kean.
George F. Baker.
August Belmont.
Walter P. Bliss.
John J. Mitchell.
Oliver H. Payne.
H. W. Cannon.
R. J. Cross.
Grant B. Schley.
8. L. Sohoonmaker.
Rudnlpb Kills,
John 1.
op
B. D. Randolph
Tuck French
R.T
Waterbary
Wilson.
VICr-PKEtiEDBNT
PRESIDENT
H, W. DONOVAN
W. N. DUANE,
Aaa
vrnw.n..
OFFICFD«
TREASURER
AMOS TUCK
Pres.Imsorters’ & Traders’ Nat.
Bank, N. Y.
ALBERT H. WIGGIN,
GEO. W. PERKINS,
President.
WATERBURY, President
KEAN,
Vice-President.
8d V toe-President.
Pres. Seaboard Nat. Bank, N Y.
OFFICERS*
JOHN I.
DIRECTORS.
A. BARTON
NASSAU. NEW YORK.
Capital, Surplus and Umdivided Profits,
Street, New York.
Capital S1,000,000
STEPHEN BAKER,
cor.
The American Mfg. Co.
ASSISTANT TRUST OFFICER
MANILA SISAL AND JUTE
CORDAGE.
65
Wall
8treet,
New
York.
gufltnejers.
H.
M.
Brinckerhoff,
Formerly General Manager and Electrical
Engineer the Metropolitan West Side Ele¬
vated RR., Chicago,
ASSOCIATED
Wm.
WITH
Barclay Parsons,
Consulting Engineers
60 WALL
ST.,
NEW YORK
Examinations, Design, Construction and
Operation
financial.
ELECTRICAL PROPERTIES
Unsatisfactory Operation Investigated.
“IT MIGHT INTEREST YOU
to know that the total maintenance expense
of parts for our entire plant of 3,000 switches for
Supt. J. A. Duncan of the Sioux City Tele¬
(This company operates our AUTOMATIC TELEPHONE
the past eighteen months has been $10 24.” writes
phone Company, Sioux City, Iowa.
H. M.
SYSTEM.)
INCORPORATED
“A LIKE SEW
would
same
perhaps take care of the repair cost on operators’ chairs In a manual exchange of the
size,” adds Mr. Duncan.
(We’ll be glad to send you a copy of his letter If you’d like
to see It.)
ENGINEERS,
DESIGN, CONSTRUCT AND OPERATE
RAILWAY, LIGHT, POWER,
IT OCCURS TO US
that the
one
Byflesby & Co^
Item of switchboard cords alone for
to at least $150 In
eighteen mouths.
HYDRAULIC AND
manual
exchange of 3.000 lines would amount
That Is fifteen times the cost of all repair parts on the
a
OAS PLANTS.
Sioux City automatic exchange.
THAT IS OULY
of the many
the
profits.
Examinations and
OlVE
economies of the AUTOMATIC SYSTEM.
These economies
all_ help to swell American
being the best service, commands the highest rates.
Low production cost plus high selling price equals
big- dividends. That Is what led to the adoption
of the AUTOMATIC TELEPHONE SYSTEM In the following cities:—
Aberdeen
8. D.
Akron, Ohio.
Allentown, Pa.
Auburn, Me.
Auburn, N. Y.
Battle Creek Mich.
Beaver Falls, Pa.
Bellingham. Wash.
Butte, Mont.
Cadillac, Mich.
Champaign. Ill.
Chicago. Ill.
Cleburne, Texas.
Columbus, Ga.
Columbus, Ohio.
Dayton, Ohio.
Denver
Colo.
El Paso, Texas.
Emaus, Pa.
Fall River, Mass.
Grand Rapids Mich.
Hastings, Nebr.
Havana, Cuba.
Hazleton, Pa.
Holland, Mich.
Hopkinsville, Ky.
Jonesboro, Ark.
Lake Benton, Minn.
Lewiston, Me.
Lincoln, Nebr.
Los Angeles, Cal.
Manchester, Iowa.
Marlanao, Cuba
Marion, Ind.
Medford. WIs.
Mlamlsburg Ohio.
Mt. Olive, Ill.
New Bedford, Maas.
Oakland, Cal.
Ocean Park Cal.
Omaha. Nebr.
Pentwator. Mich.
Morgan Streets
Banta Monica, Cal.
Saskatoon, Bask. Can.
Sioux City Iowa.
South Bend, Ind.
Spokane, Wash.
Springfield, Mo.
St. Mary’s, Ohio.
Tacoma. Wash
Toronto, Junction, Can.
Portland, Ore.
Princeton, N. J.
Richmond, Ind.
Riverside, Cal.
Rochester, Pa.
Rushville, Ind.
San Diego, Cal.
Ban Francisco, Cal.
Traverse City, Mich.
Urbana, Illinois.
Van Wert, Ohio.
Walla Walla Wash.
Wausau Wia.
.
Wasterly. R. I.
Wilmington, Del.
Woodstock. N. B.
J.
Building., OHIO AGO
Q. WHITE it co.,
Engineers, Contractors,
43*49
Exchange Place,
-
NEW YORK
Investigations and Reports on Eleetrle
Railway, Gas, El«*ctric Light, and
Fewer Transmission Properties
Portland, Me.
AUTOMATIC ELECTRIC
Van Buren and
Trust
And the AUTOMATIC,
Reports.
Can,
CO.,
CHICAQO U.8.A
for Financial Instltatloas
and Investors.
Electric Railway!, Electric Light and Electric
Power Plants Financed, Designed and Built.
London Correspondent:
J. G. WHITE & CO,, Limited,
9 Cloak Lane, Cannon St., £. C.
■Canadian
Correspondents:
CANADIAN WHITE CO., Limited,
Montreal.
Principal Philippine Office. Manila, P. L
June 22
xix
THE CHRONICLE.
1907.]
Cfompatties.
Bowling Green Trust Co.
incorporated 1853.
BROADWAY* NEW YORK.
26
Capital, $1,000,000 Surplus, $8,000,090
HTTVirKR Af
BDWIN GOULD,
WILLIAM H.
.
OHM States Trust Company of lew M,
45 and 47 Wall Street.
PresicUmt
.
.
1st Vice-President
TAYLOB,
GHA8. P. ARMSTRONG,
2d Vice-President CAPITAL,
JOHN A. HILTON, 8d Vice-Pres, and Treas. SURPLUS
WILLIAM M, LAWS,
Secretary
,
DIRECTORS:
diaries P. Armstrong;
John A.
Hilton,
Myron T. Herrick,
Prank Brainard,
Harry Bronner,
FranhUa Q, Brown,
Robert C.
Edward T. Jeffery,
dowry,
Edmond C. Converse,
Wm. Nelson Cromwell,
Grenville M. Dodge,
A. Goepel,
Edwin Gould,
Prank J. Gould,
Winslow S. Pleroe,
Morton F. Plant,
Dick S. Ramsay,
Frederick B. Sohenck,
Androw Squire,
AND
D. WILLIS
EDWARD W. SHELDON, President
JAMBS, Vice-President
HENRY E. AHERN, Secretory
CHA8. A. EDWARDS, 2d Asst. Secretary
Vice-Pres.
Secretary
JOHN A. 8TEWART, Chairman
of the Board of Trustees.
william H. Taylor,
Edward R. Thomas,
John P. Trnesdell,
E. P. C. Young.
George J. Gonld,
vc*ER8°o*
*
$12,801,046
PROFITS,
UNDIVIDED
WILLIAM M. KINGSLEY, Second
WILFRED J. WORCESTER, Asst.
$2,000 000
•
a
■
•
•
©mat (Eompatt# uf
*
TRUST CO.
No. 68 BROADWAY.
135
CPLPNIAL £ RA/M C M
222
Ammra
BROADWAY
BRANCH
NEW YORK
36 WALL ST.
BROADWAY
34TH ST. Sc FIFTH ATE.
No. 100
WEST 1MTH STREET.
STREET.
THIRD AVENUE Sc 14STH
PAYS
CHARLES T. BARNEY, President.
r&BD’K L. HLDR1DGB, 1st Yloe-President.
JOSEPH T. BROWN, Sd Yloe-President.
B. L. ALLEN, Sd Ytofr-President.
WILLIAM TURNBULL, 4th V.-Pre
FRHD’K GORE KING. Boo. and Tinas.
J. MoLBAN WALTON, Asst. Secretary.
HARRIS A. DUNN. Asst. Treasurer
ARCHIBALD G. KING, Asst. Treas.
EVERY DESCRIPTION
OF
EXECUTES TRUSTS
ISSUES
DEPOSITS
INTEREST ON
LETTERS
OF CREDIT
THROUGHOUT THE
PAYABLE
WORLD
TRUST DEPARTMENTS
WILLIAM B. BAND ALL, Trust Officer,
HARLEM BRANCHi
W. F. LEWIS,
Manager.
BRONX BRANCHs
JOHN BAM BEY Manager.
Rhode Island
BARROW, WADE, GUTHRIE & (X)
CERTIFIED PUBLIC ACBQONTANTS.
(New York and Illinois.)
Hospital
NEW YORK,
Trust
Company,
PROVIDENCE R. I.
81.000.000
81,500.000
470,000
CAPITAL
SURPLUS EARNINGS
UNDIVIDED PROFITS
DIRECTORS:
Royal C. Taft,
Robert H. L Goddard,
Geo. W. K. Matteson,
William D. Ely,
Robert L Gammell,
William Binney,
William B. Weeden,
Edward D. Pearce,
Robert Knight.
John W. Danielson,
Herbert J. Wells,
John C. Pegram,
Rowland G. Iiasard,
Broad
Exchange Building,
26 Broad 8treet.
CHICAGO,
GAR FRANCISCO,
Monad nock Block.
787 Market Street
Nelson W. Aldrich,
Samuel R. Dorranoe,
Howard O. Sturges,
Stephen O. Metcalf,
Walter R. Callender,
Gilbert A. Phillips,
Edward Holbrook,
James E. Sullivan,
Benjamin M. Jackson,
John R. Freeman,
NEW ORLEANS,
Hibernia Bank Bidp.
LOUDON, ENGLAND,
18 8t 8 with in’s Lane,
E. C., Cable, “Adorjest.
Charles 8. Mellen.
Lyman B. Gofl,
Robert W. Taft.
HERBERT J. W ELLS, President.
EDWARD S. CLARK Vloe-Presldent.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAM WELL, Secretary.
PRESTON H. GARDNER, Trust Officer.
CYRUS a LAPH AM, Asst. Seo’y.
JOHN a WILLIAMS, Asst. Sec**
HENRY L. 8LADKR, Asst. Hec’y.
WALTER G. BROWN. Asst. Sec'v
THE AUDIT COMPANY
of New York.
ORGANIZED 1867.
NEW YORK;
48 Cedar Street.
CHICAGO.
PHILADELPHIA.
NEW ENGLAND OFFICE!
Euatna Bide.. 1 5 kuts Mt.. BOSTON.
Frick Bldg., PITTSBURGH, PA.
AUGUST BELMONT,
Acting President.
WILLIAM A. NASH,
JOHN J. MITCHELL
GEORGE W. YOUNG.
Vice-Presidents.
EDWARD T. PURINE, Gen’l Mgr. and Treas.
F. a RICHARDSON. Assistant Treasurer.
This Company Audits and Investigates Aooeunts
and makes Physical Examinations of Properties.
Its Certificates and Reports are Prepared in behalf
of Merchants, Bankers, Corporations, Committees
and others, in strict confidence. The Company also
Devises and Installs Money-Saving Systems of
Keeping Accounts.
William D. Marks,
Ph. B.C.E.
Consulting Engineer and Statistician.
GAS WORKS
ELECTRIC LIGHT WORKS,
ELECTRIC RAILWAYS. OIL MOTOR CARS.
6J3 Park Row Bldg.
New York City.
Experienced in Municipal Causes.
Whiting Papers
Httgitieers
EXAMINATIONS
AND
REPORTS
BEADLE & MAXWELL
GAS and ELECTRIC
82 Braver Street
Correspondence
Uaee are
standard, made in Ladder, Bond,
War Fine
and for General Bunin—h
Linen and Fine
Writing In variety.
WHITING PAPER CO,
Naw York.
Philadelphia. Chicago.
Mills! II el yoke, Mkm,
ENGINEERS
NEW YORK
ERNEST ABS-HAGEN, C.E.,
M.E.
CONSULTING ENGINEER
Water 8upply, Sewerage Systems, Power Plants
Rxaaisatisni and Reports on La UnAmerican Industrial Projects a Specialty
1 BROADW
NEW YORK
.
i
[V oi* LUZ1V,
THE CHRONICLE
©ottmx.
ffitrauocial.
WOODWARD
FAR WELL
STILLMAN,
&
TRUST
COTTON MERCHANTS
16 to
22 WILLIAM
BANKERS
STREET,
■GYPTLAN AND AMERICAN COTTON OF
GRADES SUITABLE TO WANTS
Alitv
226 La Salle
CAPITAL
RAILROAD BONDS
-
$1,500,000
-
OF 8PINNBR8.
GRANGER FARWELL, President
Established IN I860.
Henry Hentz & Co.,
COMMISSION MERCHANTS,
16 to 22 Wiflimm Street, New York.
Execute Order* fer Future Delivery
COTTON
At the New York. Liverpool and New Orleans
Cotton Exchange*. ABo orders for
OOFFSE
SrcfaMge
PROVISIONS
at the Obloago Board of Trade and
GRAIN AND COTTON-SIDED OIL
At the New York Produce Exchange.
At the New York Coffee
DOUGLAS SMITH, Vice-President
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIE BONDS
CHICAGO REE ESTATE BONDS.
CORPORATION l RAILROAD BONDS.
ALBERT G. LESTER, Vi oe-President
JOHN BARRY SEARS, Treasurer
JOHN J. BRYANT JR., Secretary
LOAMS
Hubbard Bros. & Co.,.
SEND FOR CIRCULARS.
BONDS.
INVESTMENT
SECURITIES.
PEABODY, HOUGHTELING & CO.
181 La Salle Street.
noiiAXfiEBmmiG,
HASOTEK SQUARE.
COLLATERAL.
ON
GRAIN AND
ooFvn
Street,
CHICAGO.
37 PINE ST.
NEW YORK
"CHICAGO
NEW YORK.
[
KOLA SALLE SX
COMPANY,;
CHICAGO.
[BSTABIASHXD 1866.)
NEW YORK.
MERCHANTS.
COTTON
Liberal Advances Wade
on
Gotten
Consignmenta.
Hopkins, Dwight & Co.,
Edwin L. Lobdeil
&Co.,
BANKEBS AMD
BROKERS,
Rotunda, Rookery Rids*, OUcago.
80 Broadway, Now York.
F. H, PRINCE &
BANKERS.
(New York Stock Exchange,
BOSTON, MASS.
Member* < Chicago Stock Exchange,
( Chicago Board of Trade.
COTTON.
CO.,
and
f COTTON^KVOIL,
■
COMMISSION MERCHANTS.
Room SSI, Gotten Biela me
NEW YORK.
BuCUHng,
Bishop, Laimbeer & Co.
Mills
Ooffte
York
Siegfr. Graner & Co.,
INMAN
Cotton
&
merchants,
AUGUSTA, GAh
[Established 186a]
AND
WJ T. HATCH & SONS,
Building, NEW YORK.
141 Milk Street, BOSTON, MASS.
Cotton Exchange
INMAN A CO
W. R. CRAIG &
Co.,
COTTON COMMISSION MERCHANTS,
27 William Street.
NEW
TeL No. 1618 Broad.
Cotton
Members
NEW ORLEANS, LA.
DALLAS, TEX.
Buyers of Spot Cotton. Orders for Contracts Exe¬
cuted in the blew Orleans, New York,
CO.,
YORK
Merchants.
[NEW YORK COnON EXCHANGE
-(NEW ORLEANS OOTTON EXCHANGE
YORK COFFEE EXCHANGE
SPOOL COTTON ASSOCIATION
Future Delivery Orders Executed on above Exchanges
Liberal Advances Made cm Cotton Consignments
Liverpool and Havre Markets.
LEHMAN
CO.,
SUCCESSORS TO
GEO.
COPELAND A CKX,
COTTON
BROKERS,
43 Gotten Exchange.
New York.
Orders for future dettverv contracts executed on
the New York send Liverpool Cotton Exchanges.
R. H. ROUNTREE &
00.,
Commission Merchants.
Cotton, Grain, Provisions and Coffee.
COTTON EXCHANGE BUILDING,
NEW YORK.
ROBERT MOORE & CO.,
30 Beaver Street, New York.
ORDERS FOR FUTURE DELIVERY EXECU¬
TED IN NEW YORK AND LIVERPOOL EX¬
CHANGE.
COTTON PURCHASED FOR SPINNERS’ USE.
Lehman, Stern & Co.,LtdCOTTON FACTORS and
C0MM1SS0N MERCHANTS,
Fiank B.
New Orleans.
Chapman, Setter A Allen,
OOTTON BROKERS.
Cotton Exchange Bldg*, New York.
Oriean Ootton Exchanges
and Liverpool Gotten Association.
GWATHMEY £ CO.,
COTTON
New York.
-
HAYNE,
Hayne (in Oomxnendam.)
BUILDING,
NEW ORLEANS, LA.
ORDERS FOR FUTURE DELIVERY EXECUTED
IN NEW ORLEANS, NEW YORK AND
LIVERPOOL MARKETS.
NEW YORK STOCK EXCHANGE.
SMITH,
CLEMENT &
Successors to HA VEN ft
CLEMENT,
1 Nassau Street, corner
Members of the New
Wall Street.
York Stock Exchange.
Bonds, Stocks, Cotton, Grain.
DICK
BROTH ER8 & CO.,
BANKERS AN.O BROKERS,
New York.
36 Bread Sk.,
Members of N. Y. and Philadelphia Stock Sxehangss.
New York. New Orleans and Liverpool Ootton
Exchanges, New York Ooflee Exchange
and Chicago Board of Trade.
Cotton.
Stephen
M. Weld & Co.,
COTTON MERCHANTS,
82-92 Beaver
Street,
-
Boston Correspondents, S.
State SL, Boston, Mass.
New York City,
M. Weld & Co., 89
Liverpool Correspondents, Weld «fc Co.
Bremen Correspondents, Albrecht, Weld & Co.
MERCHANTS,
•
*
New York.
Geo. H. McFadden &
Bro.,
MERCHANTS,
PHILADELPHIA.
NEW YORK.
OOTTON
Wm. P.Quenteil.
R R. Goats.
Theodore H. Prloe,
Ootton Brokers,
COTTON EXCHANGE
Broadwav,
Orders for future delivery executed In New Orleans
New York and Liverpool,
liberal advances made on Cotton consignments.
49 Cotton Exchmme,
&
96
BROKERS,
BROSw, New York.
Members of N. Y. and New
SMITH
BANKERS AND
MEMBERS OF
Lord’s Court Building.
WILLIAM RAY &
Stock Exchanges
CO.,
Bremen Correspondents,
17 South William Street,
NEW YORK.
MEMPHIS, TENN.
Members of Nev York and Boston
Cotton.
MTBBCHANTS
Mason Smith &
Investments.
Grade
York.
Orders executed on the above Exchanges, as well in
New Orleans, Chicago and foreign markets.
COTTON
15 Broad St.
Building,
LEHMAN BROS.,
Member* of the Stock, Cotton,
and Produce Exchangee, Mew
-
Members New York Stock Exchange.
Lehman, Stern A Co., limited, New Orleans, La.
Non. 16-22 William Street, New
High
Quentell, Coats A Co.,
COTTON BROKERS.
S‘l Beaver Street,
New York
Members N Y. Cotton Exchange
Associate Member* Liverpool Cotton Association.
Liverpool Correspondents*.
FREDERIC ZEREGA A 00.
Bremen Correspondents:
MCFADDEN BROTHERS A 00.
Havre Correspondents:
SOCTKTE D’lMPORTATION ST DE COMMISSION
@FedFRASER