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.«
Bank & Quotation Section
Railway Earnings Section
VOL. 92.
Railway & Industrial Section
Bankers’ Convention Section
Electric Railway Section
State and City Section
SATURDAY, JUNE 24 iwn.
PUBLISHED WEEKLY.
2400
Weck ending June 17.
Clearings'at-
Terms of Subscription— Payable in Advance
i\ U
■i -a
1911.
1910.
Inc. or
Dec.
1909.
1908.
S
$
$
%
$
For Ono Year ................................................................................................ $10 00
275,159,481 273,263,22(
+ 0.7 274,603,627 219,923.073
Chicago----For Six M onths............................................................................................... 6 00
24,597,601
25,722,95(
+ 4.6
27,681,50(
23,717,050
European Subscription (including postage).....
............ 13 00
+ 7.2
18,162,67!
23,319,66'
21,760,456
14,439,793
European Subscription six months (including postage).................7 50
21,905,02:
15,700,12!
21,909,03: —0.02
12,771,474
Detroit___
Annual Subscription in London (including postage) .. .
.......... £ 2 14s,
13,829,565
12,814,53!
11,657,48'
9,462,907
Milwaukee.
+ 7.!
Six Months Subscription in London (including postage)
........ £ 1 11s
9,988,45! — 14.2
8,878,50'
Indlanapoli!
8,568,69(
8,429,164
Canadian Subscription (including postagei ........................................... $11 50
Columbus .
6 ,183,40(
5,833,60(
5,510,00(
5,116,900
+ 6.(
3,710,692
Toledo___
5,083,39!
4,630,89!
+
10.(
3,379,185
S u b s c r ip tio n in c lu d e s fo l lo w in g S u p p le m e n ts —
P eoria___
2,720,20)
2,921.385
2,545,53!
—6.!
2,192,963
B ank and Q uotation (monthly)
I S tate and C ity (semi-annually)
2,716,720
2,665,295
2,595,40!
+ 1.!
2,179,264
R a il w a y and I ndustrial (Quarterly) I E lectric R ailw ay (3 times yearly)
D a y to n ____
2,272,439
2,193,005
2,038,96!
+3.6
1,665,357
2,330,721
R ailw a y E arnings (monthly)
|B an kers ’ Convention (yearly)
Evansville ..
2,272,89!
4-2.5
1.982,60!
1,597,863
Youngstown
1,129,615
1,154,085
—2.!
1,157,086
702,441
Terms of Advertising— Per Inch Space
641,401
637,68!
Kalamazoo ..
538,866
+ 0.7
491,488
1,010,425
1,048,212
.829,94!
—3.6
Springfield, i
822,296
transient matter per inch space (14 agato lines)...................................... $4 20
1,142,94(
990,855 + 15.!
826,794
765,483
(S tim es)............................ 22 00
686,74!
617,41(
573,65!
—7.1
3 tim es)............................ 29 00 S a g in a w _______
Standing Business Cards
876.972
1,075,00!
1,096,00(
+ 2.(
442,622
i(! tim es)............................ 50 00 C a n to n ....................
790,000
1,015.000 +41.5
700,000
1,436,50(
1(52 tim es).................
87 00 A k r o n ________
727,569
508,880
L e x i n g to n _____
891.17!
741,376 +20.2
CHICAGO O FFIC E —Pliny B artlett,613 Monadnook Block; Tel. Harrison 4012 R o c k fo rd _____
801,860
832,535
553,946
819,35!
— 1.(
LONDON O FFIC E —Edwards & Smith, 1 Drapers’ Gardens, E. C.
666,507
S o u th B e n d ____
514,49(
521,733
521.77C
— 1.4
536,791
549,84(
S p rin g field , O . .
496.87!
447,691
+8.1
W I I . M A I T I B . 15AIVA C O M P A N Y , P u b l i s h e r s ,
575,341
600,00(
536,86!
Q u ln c y ....................
—4.1
401,899
1*. O . b o x 9 5 8 «
F ron t, Fine and D epcyster S ts.t
N ew Y o r k .
696,324
434,412
B lo o m in g to n ____
566,59! + 2 3 .(
4S6.311
523,074
433,715 + 20.!
396,754
625,502
D e c a tu r ...............
442,176
390.561 + 13.2
401,605
M a n sfield ..............
382,295
Published every Saturday morning by WILLIAM B. DANA COMPANY,
439,293
385,98! + 13.!
349,40C
294,076
Jacob Seibert Jr., President and Treas.; George S. Dana and Arnold G. Dana. D a n v i ll e ...............
519,468
498,000
Ja c k s o n _______
273,006
—4.1
260,000
Vice-Presidents; Arnold G. Dana, Sec. Addresses of all. Office of the Company
249,524
251,365
Ja c k s o n v ille ,? '1 11
236.96E
—0.7
229,307
413,954
323.82C + 2 7 .!
352,371!
L i m a __________
250,000
195,220
A nn A r b o r ............
182,934
152,947
+ 6.7
134,175
CLEARING-110 USE RET URNS .
37,623
28,268 +33.1
A d ria n .................
34,560
20,164
L a n s in g _______
346,086
304,656 + 10.3
T he following tabic, m ade up b y telegraph, & c.. Indicates that the total
bank clearings of all clearing houses of the United States tor week cndlna
404.021,241 397,958,550
T o t. M id. W est
+ 1.5 386,688,210 313,915,032
June 24 have been $3,066,267,6.>8, against $3,192,301,406 last week and
S a n F ra n c is c o __
48,067,573
45,897,986
39,310,952
+ 4.7
31,229,969
$2,847,011,379 the corresponding week last year.
L os A n g e le s_____
19,967,320
14,200,000
9,530,732
16,915,717 + 18.0
S e a ttle ________
11,294,480
11,707,474
10,617,081
7,295,902
—3.5
Clearings—Returns by Telegraph.
Per
P o r t l a n d _______
11,430,785
10,511,124
7,321,860
5,426,563
+ 8.7
1911.
Week ending June 24.
1910.
Cent.
S a lt L a k e C ity ___
7,225,597
6,169,040
4,875,810
6,419,481
—3.9
S p o k a n e _______
4,628,639
4,926,370
—6.0
4,000,000
2,895,566
New Y o r k . . .................................................... $1,440,430,067
$1,356,321,551
+ 6.2 T a c o m a .................
5,871,344 —24.7
6,121,102
4,419,395
3,933,797
157,944,342
B o s to n ............... ............. ......... ..........................
114,689,710
+ 3 7 .7
3,710,076
3,096,838 + 19.8
2,023,558
O a k la n d ....................
1,320,141
Philadelphia............................. ......... ..............
+ 3 .0
123,449,983
119,813,925
985,000
1,365,000
1,300.000
+ 5.0
S a n D ie g o _____
657,000
Baltimore............................................................
20,854,252
+ 22.5 S a c ra m e n to ____
21,918,691
973,416
1,286,938
1,336,147
833,316
Chicago ..............................................................
228,897,374
— 0.9
226,737,075
940,026 + 10.2
P a s a d e n a ..............
1,036.241
St. Louts............................. ..............................
+ 1.6 S to c k to n ...............
56,600,043
57,504,985
589,357
012,442
'8201765
628,943 4-30.5
New Orleans_____________ ______ _______ _
12,938,650
+ 19.7 F r e s n o ....................
15,490,635
+ 0.4
446,781
438,882
650,000
647,133
S a n J o s e .................
426,124
508,279
328,791
464,969
+ 9.5
Seven cities, five d ays............................. $2,048,411,339
+ 7.2 N o rth Y a k im a .
$1,911,179,944
496,189
477,340
+ 4.0
396,439
206,990
Other cities, five days..................................
490,173,810
459,460,008
+ 6.7
T o ta l P acific .
115,899,935 111,091,683
94,637,087
C9,CC3,G01
+ 4.3
44,718,012
Total all cities, live d ays...................... S2,538,585,185
40,566,172
49.S05.381 r— 10.4
23,840,753
$2,370,639,952
+ 7.1 K a n s a s C l t y . . .
17,903,161
All cities, one d a y .------------ --------------------19,308,597
18,812,CCS
15,564,088
—7.3
527,682,473
+ 10 0 M ln n c a p o lls____
476,971,427
14,438,768
O m a h a ------------15,873,113
11,122,262
—9.0
13,947,235
9,608,378
11,475.817 — 16.3
Total all cities for w ee k .......................
10,682,685
7,993,778
$3,066,267,658
$2,847,011,379
+ 7.7 S t. P a u l ....................
10,118,622
9,394.157
+ 7.7
9,127,579
8,600,000
D e n v e r ________
6,334,424
T he full details for the week covered by the above will be given next Sat S t . J o s e p h ............
6,958,475
+ 9.8
5,463,888
5,427,492
+3.4
urday. W e cannot furnish them to-day, clearings being made up by the D rs M o in es-----4,091,389
3.957,913
3,294,169
2,986,785
2,814,134
clearing houses at noon on Saturday, and hence In the above the last day of S io u x C ity ............
3,217,631 —23.3
2,462,044
2,005,990
2,788,049
the week has to be In all eases estim ated, as we go to press Friday night.
3,240,720 — 14.5
D u l u t h ....................
2,771,010
2,351,462
W e present below detailed figures for the week ending with Saturday,
+ 8.8
1,409,550
W ic h i ta .................
3,207,647
2,947,045
noon, Juno 17, for four years.
,1582,466
L incoln .................
+ 7.2
1,736,794
1,020,257
1,138,945
1,421,119
1,050,478
T o p e k a .................
1,581,928
1,273,193 + 24.2
771,004
1,127,051
D a v e n p o r t_____
1,292,929
—2.0
1,266,310
Week ending June 17.
1,049,564
740,136
C e d a r R a p i d s ..
1,341,606
1,040,528 + 22.9
Clearings at—
765,934
650,205
C o lo rad o S p rin g s
747,351
899,386
—
16.9
Inc. or
541,013
F a rg o ......................
949,180 — 17.8
673,605
780,442
Dec.
1909.
1908.
1910.
1911.
525,000
S io u x F a lls ............
595,000
990,000 + 10.4
1,092,987
P u e b lo ....................
411,459
567,279
621,070 —8.7
529,732
S
S
S
%
S
F r e m o n t .................
195,006
297,427
298,757
—0.4
317,049
+
11.0
2,197,099,741
1,716,292,978
1,247,530,130
1,904,432,210
New York...........
W a te rlo o ..............
1,347,418
927,849
+45.3
+ 6.2 133,012,313 108,010,039 H e le n a ....................
153,891,376 144,861,108
Philadelphia____
1,121,402
864,957
777,70)3 + 11.2
661,784
50,203,292
—7.3
43,094,666
37,208,740 A b e rd e e n .............. ..
46,519,026
Pittsburgh______
__
400,000
500,000 —20.0
29,933,792 + 13.1
27,111,332
22,610,329 H a s t i n g s .................
33,860,266
Baltimore ...........
________
102,039
170,000 —4.7
+ 0.6
9,978,808
9,137,135
7,697,743 B i ll i n g s ....................
Buffalo.................
10.039,458
172,159
130,799
148.465
226,790 —42.3
+ 7.8
6,934,142
6,078,349
5,103,163
Washington____
7,472,156
119,123,572
T o t . o th . W est
128,595,449 137,142,500 —6.1
85,625,761
+ 5.0
0,147,130
5,752,453
Albany..................
5,685,189
6,453,240
4,007.122
3,902,578 + 13.1
Rochester...........
3,024,249 S t. L o u is _______
60,209,244
4,483,841
+ 3.6
75,021,556
72,421,988
54,681,769
2,313,760
2,476,024 + 10.5
Scranton_______
+ 3.0
2,168,135 N ew O rle a n s ____
16,209.670
13,905,782
2,735,549
13,077,566
10,699,599
+ 5.8
2,288,194
Syracuse..............
2,447,006
1,814,482 L o u is v ille -______
2,589,333
—0.4
11,693,672
12,666,710
10,299,255
12,616.429
—3.6
1,526,213
Reading...............
1.745,494
1,682,824
1,161,051 H o u s to n ................
8,807,282
11,223,339
12,196,255
—8.0
10,989,666
—20.6
Trenton .............
1,544,049
1,942.240
6,699,282
5,000,000
1,542,100
1,177,759 R ic h m o n d ............
7,100,000
+ 6.0
6,515,824
1,739,077
Wheeling ...........
+ 0.9
1.808,469
3,509,782
1,825,314
1,416,587 A t l a n t a ________
10,470,253
8,950,176 + 17.0
6,560,917
1,215,068
Wilkes-Barre__
6,338,000
4,924,000
1.410,083 — 11.3
1,082,101 G a l v e s t o n ______
5,0S2,000
1.251.169
5,953,500
+ 6.5
1,533,611
Wilmington_____
—4.4
4,571,591
5,447,726
1,626,036
1,701,217
4,346,362
1,419,463 M e m p h is _______
4,980,062
+ 9.4
—3.2
1,152,493
Harrisburg.........
5,202,395
4,794,551
1,150,000
1,187,613
1,118,770 F o r t W o r th .'____
5,154,129
6,050,144 — 13.0
922,357
2,514,726
Y o r k ....................
872,767
4,292,603
3,326,220
977,9S4 — 10.7
824,076 N a sh v ille ______
3,840,074 + 11.8
731,513
855,710
2,766,316
+3.8
2,726,766
E ric......................
3,801,171
824,833
594,720 S a v a n n a h ..............
3,560,982
+ 6.7
509,267
546,910
2,502,959
1,896,470
2.830,199
Chester------------440,350 N o r f o l k .............. ..
628,793 — 13.0
+ 8.0
2,G05,869
619,661
494,663
1,718,399
1,617,290
Grecnsburg-------523,873 B ir m in g h a m -----2,284,105
484,930 + 27.8
—8.4
2.493.38S
427,200
527,600
1,700,000
1,928,422
881,062
Binghamton-----471,300 + 11.9
451,200 O k l a h o m a ..............
2,100,000
—8.2
531,001
1,615,657
473,511
+ 1.3
1,348,628
2,744,149
Altoona................
462,868 J a c k s o n v i ll e -----527,654
2,427,187 + 13.1
255,000
281,717
1,479,595
+ 3.5
1,675,900
+ 6.0
Franklin..............
240,360
1,082,285
265,000 L ittle R o c k ............
1,580,758
994,315
—2.8
1,341,913
1,323,010
1,032,926 —3.7
1,756,707
1,807,567
C h a tta n o o g a . . .
—7.5
1,187.006
1,774,216
1,280,913
1,641,689
K n o x v i l le ______
—6.3
1,021,841
1,401,709
1,296.429
Total Middle.. 2,180,793.522 1,988,227,366 + 10.0 2,443,045,804 1,451,703,526 A u g u s ta ....................
1,312,907
1,032,572
1,249,410
+
16.7
1,042,163
1,458,740
M
obile
......................
111,499,747
111,888,703
115,324,595
+ 1.8
Boston ................
121,437,055
1,234,499 +33.9
938,315
1,195,225
1,642,537
8,550,500
7,318,200
7,365,300 + 16.1
6,045,600 C h a rle s to n ..............
Providence_____
759,831 +240.5
703,293
477,625
2,584,108
3,420,960
4.763,200
3.871,295 + 23.0
3,022,395 M a c o n ......................
Hartford_______
380,074
1,962,745
525,963
3,446,190
+
75.6
A
u
s
t
i
n
......................
2,842,882
2,787,059
2,073,437
+ 4.6
2,184,798
New Haven.........
208,386
208,543
288.407
225,853
+ 8.4
2,296,208
2,240,000
—0.2
2,290,688
1,722,870 V i c k s b u r g ..............
Springfield------ .
226,242
652,339
4S0.669 +35.7
371,530
1,831,247
2,320,525 + 17.9
2,736,426
1,491,146 W llm ’to n , N . C . .
Worcester...........
________
675,188
387,000
950,000
—28.P
J
a
c
k
s
o
n
....................
1,937,987
1,765,223
+ 8.7
2,105,178
1,413,340
Portland_______
260,000
191,470
250,000
+ 4.C
1,034,309 + 29.1
1,153,344
1,081,146 M e r i d ia n .................
1,335,591
Fall River______
Not Included in tota>
1.079,311
928,756
+ 6.2
738,053 T u l s a .......................1,146,658
New Bedford____
775,811 Not Included In total
523,139 + 18.7
474,681
464,246 M u s k o g e e ...............
021,095
Lowell.................
500,003 + 15.9
525,582
185.392.104 176,815.077
380,164
+ 4.9 148,071,634 130,645,065
679,632
T o ta l S o u th e rn
Holyoke......... ......
3TT92.304.406 2,976,894,898
+ 7.2 {,359,315,95' 2,192.135,098
+ 3.0 167,769,647 110,581,413
Tot. New Eng.
171,602,155 165,659.722
+2l2 1,161,616,213 944,604,468
1,287.872,196 1,260,601,920
YSNote.—For Canadlnn clearings see “ Commercial and Miscellaneous News.”
1661
THE CHRONICLE
■•'I'-^PiifU— II I. Ill r~-
‘ '
1,1.
-
."a—
=
1
.......
tu re .
ELECTRIC R A I L W A Y SECTION.
■A
new
s e c t io n ,
r e v is e d t o d a t e , is s e n t to o u r s u b s c r ib e r s t o - d a y .
The
—-
o l
:
. L X X X X II
;■
T h e F id e lit y T r u s t C o . b e g a n c le a r in g th is v e r y
w e ek , and
n u m b e r o f o u r “ E le c tr ic R a i l w a y ”
[V
''
its
sta te m e n t.
fig u re s
The
w ill
be
in c lu d e d
M e tr o p o lita n
b e g in s
in
to
t o -d a y ’s
c le a r
next
M o n d a y a n d its figu res w ill a p p e a r in t h e s t a t e m e n t
e d ito r ia l d is c u s s io n s in th e s a m e e m b r a c e th e fo llo w
th e c o m in g S a t u r d a y .
in g t o p ic s :
a p p e a r s o o n t h e r e a f t e r , as th e d ire c to rs h a v e a lr e a d y
on
“ C a r D is p a t c h in g a n d C o n t r o l b y T e le p h o n e
E le c tr ic
T r a c tio n ”
R o a d s ,”
and
“ Car
“ E le c tr ic
D e v e lo p m e n t
R a il w a y s
and
in
E le c tr ic
th e
P u b lic
U t i l i t y C o m m is s io n s .”
T h e K n ic k e r b o c k e r T r u s t w ill
v o t e d t o a p p ly fo r a d m is s io n .
d o u b t e d l y fo llo w
S o m e o th e r s w ill u n
a t lo n g e r o r sh o rte r in te r v a ls , a n d
d u r in g t h e w h o le o f t h e t im e w h ile th is is g o in g o n t h e
w e e k ly c o m p a r is o n s w ill b e d isa rr a n g e d a n d t h e g e n
THE F I N A N C I A L SIT U A T IO N .
■
e ra l re su lts b e d e p r iv e d o f a g r e a t p a r t o f th e ir u s e fu l
I f w e m a y be p e r m i t t e d t o m a k e a s u g g e s tio n to th e
n ess.
m a n a g e r s o f th e N e w Y o r k C le a r in g H o u s e as t o th e
B u t e v e n if th is w e re n o t t h e c a se — t h a t is , e v e n if
fo r m t o b e g iv e n t o t h e w e e k ly b a n k r e tu rn s issu ed o n
th e r e s h o u ld b e n o f u r t h e r a d d itio n s t o tr u s t c o m p a n y
S a t u r d a y s , n o w t h a t a n u m b e r o f la r g e t r u s t c o m p a n ie s
m e m b e r s h ip a n d t h e n u m b e r o f in s titu tio n s r e p o r tin g
have
s h o u ld
been
a d m it t e d
to
m e m b e r s h ip
and
are o b lig e d
r e m a in
u n c h a n g e d — it w o u ld
n e v e r th e le ss
t o fu r n is h fig u re s t h e s a m e a s t h e b a n k s , it is t h a t n o
h ig h ly d e sira b le t h a t th e r e su lts fo r th e b a n k s
a t t e m p t b e m a d e t o c o m b in e th e t w o s e ts o f figures in
be
o n e g e n e r a l a g g r e g a te , b u t t h a t t h e re s u lts fo r ea c h
com pany
kept
c la s s o f in s t it u t io n b e k e p t w h o lly s e p a r a te a n d d is
c ia tio n .
t in c t .
to
Any
o th e r m e t h o d
o f t r e a t in g t h e r e tu rn s is
w h o lly
com p are
son.
s o , in c lu sio n
T h is b e c o m e s e v id e n t o n a m e r e g la n c e a t la s t
sta tem en t
c h a n g e s d is c lo s e d .
w it h
th e
m a g n it u d e
of
th e
I n lo a n s a n in cre a se o f $ 5 7 1 ,9 9 4 ,
of
fr o m
th e
one
one
w eek
year
of
th e
th o se
are
w ith
w ith
tr u s t
of
th e
tru st
C le a r in g -H o u s e
T h e s e w e e k ly r e tu rn s
com p are
t o m a k e t h e t o t a ls u se le ss fo r re fe r e n c e a n d c o m p a r i
S a tu rd a y ’s
s e p a r a te
m em bers
u se d
a n o th e r .
c o m p a n ie s
A sso
not
a n o th e r,
be
s h o u ld
m e r e ly
but
T h is
to
b e in g
in t h e g e n e r a l
t o t a ls ren d e rs c o m p a r is o n a lto g e th e r o u t o f th e q u e s
t io n .
W e n e e d h a r d ly u r g e t h a t it is o ft e n i m p o r t a n t
COO w a s r e p o r te d , in d e p o s it s a n in cre a se o f $ 4 1 9 ,0 5 3 ,
fo r t h e n e w s p a p e r w r ite r or t h e s t u d e n t t o see h o w t h e
2 0 0 , in m o n e y h o ld in g s a n in cre a se o f $ 7 3 ,9 2 7 ,7 0 0 ,
a g g r e g a te o f lo a n s o r th e a g g r e g a te o f d e p o sits t o - d a y
a n d in
total
r e s e r v e s h e ld (th e t r u s t c o m p a n ie s b e in g
c o n tr a s ts w ith c o r r e s p o n d in g ite m s a t c e r ta in d a te s in
a llo w e d to k e e p a p a r t o f th e ir re s e r v e s o n d e p o s it w ith
th e p a s t .
th e
c r e a se d so m e w h e r e b e t w e e n $ 5 0 0 ,0 0 0 , 0 0 0 a n d $ 1 , 0 0 0 ,
ban k s)
an
in c re a se
of
$ 1 3 9 ,2 7 8 ,7 0 0 .
We
n ee d
B u t w it h th e t o t a l s o f th e se t w o ite m s in
all
000,000 (d e p e n d in g u p o n t h e n u m b e r o f tr u s t c o m p a n
t h e ite m s fo llo w s im p ly fr o m th e in c lu s io n fo r th e first
ies t h a t m a y u lt im a t e ly e n te r t h e C le a r in g H o u s e ) , t h e
h a r d ly s a y
t h a t th e s e e x t r a o r d in a r y
t im e o f fifte e n tr u s t c o m p a n ie s .
a d d itio n s to
B u t t h o u g h th e ca u se
c o m p a r is o n s
w ill
be
fu tile
and
w o r th le s s
u n le ss t h e
its e lf is p la in , th e s e p r o d ig io u s c h a n g e s t e n d to o b sc u r e
t r u s t c o m p a n ie s a re first e lim in a te d
e n t ir e ly th e u n d e r ly in g c u r r e n ts o r m o v e m e n t s a ffe c t
T h e s a m e is t r u e o f th e m o n e y h o ld in g s ; $ 6 0 ,0 0 0 ,0 0 0
in g t h e d iffe re n t ite m s w h ic h it is o n e o f t h e p u r p o se s
h a s a lr e a d y b e e n a d d e d to th e s e m o n e y h o ld in g s b y
o f t h e w e e k ly fig u re s to b r in g t o v ie w .
th e in c lu s io n o f t h e tr u s t c o m p a n ie s th u s far a d m it t e d
fr o m th e t o t a l s .
d iffe re n ce s w ill
to m e m b e r s h ip , a n d a fu r t h e r $ 6 6 , 000 , 000 , w e h a v e
e x i s t fo r o n ly a sin g le w e e k , t h a t in th is w e e k ’ s r e tu rn
s e e n , m a y b e a d d e d th r o u g h th e in c lu sio n o f th e re
(t o b e issu e d t o -d a y ) a n d in s u b s e q u e n t re tu rn s th e re
m a in in g c o m p a n ie s .
It
m ay
be
u rged
th a t
th e s e
w id e
w ill b e o n ly s u c h c h a n g e s a s fo llo w fr o m
c h a n g e s in
T h e fo r m in w h ic h th e b a n k s t a t e m e n t w a s issu e d
tr a d e a n d m o n e ta r y c o n d it io n s , in a s m u c h a s w ith th e
la s t S a t u r d a y w a s o n th e w h o le s a t is fa c t o r y a n d th e r e
fig u re s o f th e tr u s t c o m p a n ie s o n c e in c lu d e d th e c o m
is n o o cc a sio n fo r t a k in g e x c e p tio n t o a n y t h in g in it
p a r is o n s w ill h e n c e fo r w a r d b e o n a lik e b a s is .
ex cep t th a t th e
W hat
tw o
c la sse s o f in s titu tio n s w e re in
lit t l e fo rce th e r e w o u ld o th e r w is e b e in th is a r g u m e n t
c o r p o r a te d in th e s a m e t a b le .
d is a p p e a r s w h e n it is r e m e m b e r e d t h a t o n ly a p a r t o f
e n a b le o n e t o d e te r m in e t h e a m o u n t c o n t r ib u t e d b y
t h e t r u s t c o m p a n ie s h a v e a s y e t jo in e d th e C le a rin g
e a c h cla ss o f in s tit u tio n s .
H o u s e a n d b e e n a d m i t t e d to m e m b e r s h ip .
o f th e g e n e r a l s t a t e m e n t c o n ta in in g th e in d iv id u a l r e
T h e tr a n s
F ig u r e s w e r e g iv e n to
F o r in s ta n c e , a t th e b o t t o m
a c t io n s o f th e tr u s t c o m p a n ie s still o u ts id e th e C le a r
tu rn s
in g H o u s e are fu l ly as la rg e a s , a n d
fo o tin g s h a v e b e e n in se rte d fo r a ll th e ite m s in s u c h a
in s o m e
o f th e
of
b o th
th e
banks
and
th e
tru st
c o m p a n ie s ,
ite m s e v e n la rg e r t h a n , t h o s e o f th e c o m p a n ie s a lr e a d y
w ay
r e p o s in g w ith in th e C le a r in g -H o u s e f o l d .
a m o u n t s fo r th e b a n k s a n d t h e t r u s t c o m p a n ie s s e p
T h u s w h ile
t h e t o t a l o f lo a n s la s t S a t u r d a y o f t h e t r u s t c o m p a n ie s
• r e p o r tin g
to
th e
C le a r in g
H ou se
t h e a g g r e g a te o f th e lo a n s fo r
in G r e a te r N e w
all
w as
$ 5 5 0 ,2 0 2 ,0 0 0 ,
t h e t r u s t c o m p a n ie s
Y o r k a t th e s a m e d a t e (a c c o r d in g to
as
a r a t e ly .
th e
to
sh o w
b e sid e s
th e
g ra n d
a g g r e g a te s
T h e r e fo r e , a n y o n e w h o w a n t s to e lim in a te
tru st
c o m p a n ie s
is
a t lib e r t y
to
do
so ,
all
n e c e s s a r y d a t a b e in g a t h a n d fo r th e p u r p o s e .
fa c t
th e
r e m a in s ,
how ever,
th at
b o th
th e
tru st
th e
The
com
t h e w e e k ly r e tu rn o f th e S t a t e B a n k in g D e p a r tm e n t )
p a n ie s a n d th e b a n k s are in c lu d e d in o n e a n d th e s a m e
w as
sta tem en t,
no
less
th a n
$ 1 ,1 2 5 ,3 7 4 ,1 0 0 ,
s h o w in g
o u ts id e c o m p a n ie s h a d o u t s t a n d in g lo a n s
o f o v e r $ 5 7 0 ,0 0 0 ,0 0 0 .
th a t
th e
in a m o u n t
A g g r e g a t e m o n e y h o ld in g s o f
and
a
gran d
to ta l
t r a c t c h ie f a tt e n t io n
and
lit t le
th e C le a r in g -H o u s e tr u s t c o m p a n ie s w e re la s t S a t u r
h ow th e y h a v e b een m a d e u p .
d a y $ 5 9 ,8 9 2 , 0 0 0 , b u t m o n e y h o ld in g s o f a ll t h e tr u s t
th e g r a n d t o t a ls a lo n e .
c o m p a n ie s in G r e a te r N e w Y o r k o n th e s a m e d a y w ere
$ 1 2 6 ,7 6 7 , 9 0 0 ,
s h o w in g
over
$ 6 6 ,0 0 0 ,0 0 0
of
c a sh
in
v a u l t h e ld b y th e c o m p a n ie s t h a t h a v e n o t y e t a p p lie d
fo r e n t r y in to th e C le a rin g H o u s e .
S evera l o f th ese
o u ts id e in s titu tio n s w ill g a in a d m is s io n in th e n e a r fu
g iv e n
fo r
th e
w h o le .
S o lo n g as th is is th e c a s e , th e s e g r a n d t o t a ls w ill a t
T h e r e is a b s o lu t e ly
o f in s titu tio n s s h o u l d
p o r a te d in
one
m e n t s are w h o lly
heed
b e g iv e n
as to
T h e n e w sp a p e r s fe a tu r e
n o re a so n w h y th e tw o cla sses
b e j o in e d
sta te m e n t.
to g e th e r a n d
T h e ir
r eserv e
in c o r
r e q u ir e
d iffe r e n t a n d th e c h a r a c te r o f th e ir
b u sin e ss is a lso w id e ly d iffe r e n t.
T h e tr u s t c o m p a n ie s
THE CHRONICLE
J u n e 2 4 1 9 1 1 .1
1665
r e p r e s e n t a n e w b o d y o f fin a n c ia l in s titu tio n s w h ich
n a n im o u s ly g a v e p u r c h a s e r s o f sh a r e s o n th e o p e n in g
h a v e c o m e in to p r o m in e n c e d u r in g th e la s t tw e n t y -f iv e
day
years.
T h e b a n k s a re s till th e c r e d it in s tr u m e n ts o f
fr o m
th e ir c o n t r a c t s b e c a u s e o f t h e u n e x p e c t e d in c i
t r a d e , a n d in th e ir o p e r a tio n s reflect m e r c a n tile c o n
dent
and
d it io n s , e v e n t h o u g h th e r e s u lts m a y a t tim e s b e tin g e d
m a r k e t v a lu e o f th e s t o c k h e r e .
by
e r o u s a c t io n w a s n o t c a lc u la te d t o e m b it t e r t h e B o u r s e
o p e r a tio n s
on
th e
S to ck
c o n n e c te d
w ith
s p e c u la t iv e
E xch an ges.
The
d e a lin g s
o f o ffic ia l t r a d in g
a g a in s t
w e e k ly s ta tis tic s fo r
its
th e
c o r o lla r y
fin a n cia l
th e b a n k s a re a v a ila b le fo r h a lf a c e n tu r y b a c k a n d th e
a rran g em en ts.
c o n t in u it y o f th e c o m p a r is o n s o n th is b a s is o u g h t to b e
cou rse,
p r e s e r v e d fo r th e fu t u r e .
th e
w e ll
In
p r iv ile g e o f w it h d r a w in g
o f a f o u r -p o i n t b r e a k
in te r e s ts
fin a n c ia l
u n d e rsto o d ,
in t h e
O b v i o u s ly su c h g e n
h a n d lin g
circle s
and
h e re
even
th e
it
lis tin g
w as,
stated
of
by
th e
P r e s id e n t in h is s t a t e m e n t t o s t o c k h o ld e r s , t h a t t h e
T o sw e ll th e t o t a ls n o w , all
o f a s u d d e n , b y th e c o n tr ib u tio n s o f th e tr u s t c o m
e x t r a o r d in a r y g r o w th o f th e A m e r ic a n
p a n ie s , a n d to g iv e th e s e e n la r g e d t o t a ls a C le a rin g
T e le g r a p h C o m p a n y ’ s b u s in e s s w o u ld in v o lv e a n e a r ly
H o u s e l a b e l, as if t h e y w ere th e s a m e k in d o f t h in g
in cre a se
as in th e p a s t , w ill o b v io u s ly b e a m o s t seriou s m is ta k e .
a p p r e c ia tio n in th e m a r k e t v a lu e
in
c a p ita liz a tio n ;
in d e e d ,
T e le p h o n e
th e
o f th e
&
r e m a r k a b le
sh a r e s w a s
a t t r ib u t e d in p a r t t o t h e e x p e c t a t i o n o f " r i g h t s ”
S t a t e d in b r ie f, th e w e e k ly C le a r in g -H o u s e retu rn s
to
s h o u ld s h o w th e re su lts fo r th e b a n k s in a s e p a r a te
a cc ru e fr o m th e a n t ic ip a t e d o ffe r in g .
T h e d e c la r a tio n
t a b le in th e s a m e w a y as h e r e to fo r e a n d w ith se p a r a te
o f v a lu a b le " r i g h t s ” n o t in fr e q u e n t ly h e lp s th e q u o t a
fo o tin g s t h a t w ill a d m it o f a c c u r a te c o m p a r is o n s w ith
t io n o f a s t o c k , e s p e c ia lly if W a l l S t r e e t h a p p e n s t o b e
th e
fe e lin g
p a st.
The
tr u s t
c o m p a n ie s
in
tu rn
s h o u ld
be
c h e e r fu l.
In
t h is
in s ta n c e
th e
lo o k e d -f o r
g r o u p e d in a t a b le , all b y t h e m s e lv e s ; in t h a t w a y n o
" r i g h t s ” w e re d u l y o ffe r e d , s to c k h o ld e r s b e in g a llo w e d
e m b a r r a s s m e n t w o u ld b e c a u s e d b y
to s u b s c r ib e fo r $ 5 0 , 0 0 0 , 0 0 0 a t p a r , as c o m p a r e d w ith
th e in c lu s io n o f
o th e r t r u s t c o m p a n ie s fr o m tim e to t im e , fo r e v e r y o n e
a m a r k e t p ric e o f b e t te r t h a n 1 5 0 fo r th e o u t s t a n d in g
w o u ld
to
c a p ita l o n th e d a y th e a n n o u n c e m e n t w a s m a d e .
The
d e a l w ith all b y itse lf) recall th e fa c t a n d re c o g n iz e it .
im m e d ia t e e ffe c t o f th e a n n o u n c e m e n t w a s t o
c a u se
a d r o p in th e p rice o f th e sh a r e s o n th e N e w
Y ork
A
th en
su m m a ry
(h a v in g
a
tru st
com pany
sta te m e n t
s t a t e m e n t m ig h t b e a d d e d s h o w in g th e
t w o s e ts o f t o t a ls a n d g iv in g a g e n e r a l fo o tin g fo r th e
S t o c k E x c h a n g e fr o m 1 5 1 % t o 1 4 7 % , b u t th e r e h a s sin ce
tw o .
b e e n r e c o v e r y , a n d y e s t e r d a y th e c lo se w a s a t 1 4 8 % .
T h is la s t s h o u ld , h o w e v e r , b e p la in ly c a lle d a
s u m m a r y , so as n o t to m is le a d a n y o n e .
VVe m a k e th e s e s u g g e s t io n s , n o t in a s p ir it o f c r iti
N o s o lu tio n s a t is fa c to r y to all p a r tie s h a s y e t b e e n
th e
d e v is e d fo r o v e r c o m in g th e tr o u b le w h ic h h a s e x is te d
v a lu e o f th e s e C le a r in g -H o u s e s t a t is t ic s , w h ic h fo r m
fo r m o n t h s b e tw e e n A m e r ic a n a n d E u r o p e a n b a n k e r s
su c h a n im p o r t a n t fe a tu r e o f th e c i t y ’ s b a n k in g h is
w h o h a n d le
t o r y fo r th e la s t h a lf c e n t u r y .
a c le a r in g h o u s e in N e w Y o r k w a s s u g g e s te d a s a m e a n s
c is m ,
but
w h o lly
w ith
th e
v ie w
o f m a in t a in in g
c o tto n
b ills
o f la d in g .
S o m e t im e
ago
o f m e e tin g r e q u ir e m e n ts , b u t t h o u g h lo c a l as w e ll as
T h e A m e r ic a n T e le p h o n e & T e le g r a p h s t o c k is th e
th ir d s t o c k o f a n A m e r ic a n c o m p a n y t o g e t th e p r iv i
le g e o f q u o t a t io n
on
th e
P a ris
P a rq u et,
circle o f th e F r e n c h in v e s t m e n t m a r k e t .
th e in m o s t
P h ila d e lp h ia
W e ste rn
ban k ers
e n d o r se d
th is
p r o p o s a l,
S o u th e r n
b a n k e r s h a v e ra ise d o b je c tio n s t o su c h a p l a n , th e ir
c o n t e n t io n
b e in g
th at
p r o fita b le
d iv e r te d fr o m th e S o u t h .
be
c o n fe r e n c e
F c I t y . th e s e c o n d .
B ill o f L a d in g C o m m it t e e o f th e A m e r ic a n B a n k e r s ’
c a n c o r p o r a tio n s h a d b e e n a c c e p t e d .
T h e m o v e m e n t,
covered
w it h th e y e a r s .
g iv e
d r a w in g
t o g e t h e r o f th e
w o r ld ’ s fin a n c ia l c e n tr e s,
a
th a t
no
p a r tic u la r s
c a lle d
agreem en t
in
our
to g eth er
c o u ld
c o lu m n
n ew s o n a su b seq u en t p a g e .
n e w a n d n a tu r a l lin k in th e r a p id ly fo r m in g in te r n a
fin a n c in g
t io n a l m o n e t a r y b o n d s .
d isc u ssio n
O n e s ig n o f th e t im e s is th e
w as
by
th e
A s s o c ia t io n , b u t a fte r p r o tr a c t e d d is c u s s io n it w a s d is
in o u r o p in io n , is in its i n f a n c y , a n d is d e s tin e d t o g r o w
I t is b u t a fittin g o u t g r o w t h o f th e
bankers
w o u ld
C o m p a n y w a s th e first a n d A t c h is o n T o p e k a & S a n t a
P r e v io u s ly o n ly b o n d s o f A m e r i
of
b u sin e ss
T h is w e e k a r e p r e s e n ta t iv e
our
in te r n a tio n a l
in b a n k in g
be
reach ed.
d e v o te d
to
We
b a n k in g
T h e w h o le q u e s t io n o f
trad e
circ le s.
is e x e r c isin g
Two
keen
im p o r t a n t ca se s
be e sta b
a re n o w b e fo r e th e c o u r ts d e a lin g w ith th e r e sp o n si
lish e d in P a ris b y a s y n d ic a t e o f A m e r ic a n a n d E n g lis h
b ilit y o f N e w Y o r k b a n k e r s h a n d lin g d r a fts a n d d o c u
b a n k e r s , w h o w ill d e v o t e th e ir e n e rg ie s m a in ly t o th e
m en ts.
p r o p a g a t io n o f th e m o v e m e n t fo r th e d is t r ib u t io n o f
s u its
t r u s t w o r t h y A m e r ic a n
th e e a r lie st p o s s ib le m o m e n t .
n o t ific a tio n t h a t
a n in flu e n tia l b a n k is t o
s e c u r itie s t h r o u g h o u t
F ran ce.
T h e S u p r e m e C o u r t c a n n o t p a s s u p o n th e s e
fo r
m o n th s,
even
s h o u ld
a p p e a ls
be
ta k en
at
I n a s m u c h a s th e first
N o w t h a t a n o p e n in g h a s b e e n fo u n d , p r o g r e ss s h o u ld
b a le o f n e w c o t t o n h a s a lr e a d y b e e n so ld o n th e N e w
b e c o m p a r a t iv e ly e a s y .
Y ork
O u r b a n k e r s c a n o ffe r F r e n c h
in v e s to r s m o r e g e n e r o u s re tu rn s t h a n
can
o r d in a r ily
C o tto n
E x c h a n g e , it b e h o o v e s a ll th o s e in te r
e s te d in t h e m a r k e tin g o f t h e s ta p le t o a d d r e ss t h e m
b e o b t a in e d a t h o m e , th e s t a b ilit y o f o u r c o r p o r a tio n s
s e lv e s
is g r e a te r
c o n s t a n t ly
w h ic h w ill b e a c c e p ta b le fo r t h e c u rr e n t s e a s o n a t le a s t .
th a n
b e in g c u lt iv a te d
ever
fo r m u la t in g
m eth o d s
in v e s to r s a g a in s t
is p r im a r ily a m a t t e r fo r th e p r o d u c e r s a n d th e m a n u
A m e r ic a n s e c u r itie s , b y r e a s o n o f th e fa c t t h a t th e in
fa c tu r e r s , t h e b a n k e r b e in g m e r e ly u se d fo r t h e fa c ili
c rease
t a t in g o f s e ttlin g th e a c c o u n ts a n d n o t t o b e r e g a r d e d
th e ir
our
to
o f o u r c o t t o n h a v e s o u g h t to th r o w a n u n d u e o n u s u p o n
of
of
w it h o u t lo ss o f t im e
I t se e m s t o u s t h a t E u r o p e a n b a n k e r s a n d im p o r t e r s
th o s e
e th ic s
is
fin a n cie rs
h ig h a s
th e
p u b lic t y
E u rop ean con
are t o - d a y a s
and
b e fo r e ,
A m e r ic a n b a n k e r s .
fr e re s.
An
a t t e m p t t o p r e ju d ic e
o f $ 5 0 ,0 0 0 ,0 0 0
T e le p h o n e
&
in
T e le g r a p h
F ren ch
th e s t o c k
C o.
cam e
o f th e A m e r ic a n
on
th e
very
day
th e c o m p a n y ’ s sh a res w e re a d m it t e d t o t r a d in g o n th e
P a ris B o u r s e , h a s s ig n a lly fa ile d .
T o r e m o v e all o c c a
s io n fo r c r itic is m th e b a n k e r s w h o h a d b r o u g h t a b o u t
th e lis t in g o f th e sh a r e s o n th e F r e n c h B o u r s e m a g
T h e b u y in g a n d se llin g o f c o t t o n
as a p a r t y t o t h e t r a n s a c t io n s .
E n g lis h s p in n e r s c a n
n o t e x is t w it h o u t A m e r ic a n c o t t o n ; t h a t b e in g s o , it
is su r e ly th e ir c o n c e r n t o m a k e a r r a n g e m e n ts fo r p a y in g
fo r w h a t t h e y b u y .
1666
THE CHRONICLE
W i t h th e g r e a t e s t w e a lth o f p a g e a n t r y t h a t h is to r y
h a s ever record ed , G eorge V . w a s
o n T h u r s d a y , in th e
a n c ie n t A b b e y o f W e s t m i n s t e r , c r o w n e d K i n g o f th e
U n it e d
K i n g d o m o f G r e a t B r it a in a n d I r e la n d a n d o f
t h e B r itis h D o m in io n s a c r o s s th e s e a s .
T h e cerem ony
w a s d is tin g u is h e d o v e r its p r e d e c e s s o r s o f a t h o u s a n d
years b y
its I m p e r ia lis t ic f la v o r , b y its u n e x m p le d
g orgeou sn ess
and
by
d e m o n s t r a tio n s
of
unbounded
l o y a l t y in a n a g e w h e n d e m o c r a c y is t r iu m p h a n t a n d
in a c o u n t r y w h e r e th e S o c ia lis tic n o t e h a s o f la te b e e n
o fte n
stru ck
b y r e s p o n s ib le s t a t e s m e n .
R ep resen ta
t iv e s o f B r itis h p o w e r fr o m e v e r y p a r t o f t h a t E m p ir e
w h e r e o n , it is th e B r it o n ’ s p r o u d b o a s t , th e s u n n e v e r
s e t s , c o n g r e g a te d t o d o h o n o r t o th e s o n o f E d w a r d th e
P eacem aker
and
th e
gran d son
of
V ic t o r ia ,
w h o s e s w a y th e s p ir it o f E m p ir e w a s q u ic k e n e d a n d
I n d i a , th e A u s t r a lia n C o m m o n w e a lt h , N e w Z e a la n d ,
le sser
p o s s e s s io n s , a ll
sen t
th e ir
p a y h o m a g e to
m ost
K in g
e m in e n t
G eorge,
th e
first ru le r p o s s e s s in g k n o w le d g e o f th e E m p ir e g a th e r e d
by
m uch
t r a v e lin g
and
o n th e ir n a t iv e s o ils .
D ’ A ffa ir e s
d e liv e re d
th e
follow in g -
“ Whereas, The National Constituent Assembly has this
day settled upon and definitely proclaimed the form of
government adopted by Portugal, I have the honor, acting
according to the instructions received from my Government,
of hereby informing Your Excellency that the Government
of the United States of America has to-day officially recog
nized the Government of the Portuguese republic."
V e r y lit tle is k n o w n h e re c o n c e rn in g th e
p o litic a l
s y m p a t h ie s o f th e h e a d o f th e n e w g o v e r n m e n t , b u t
th e f a c t t h a t h e d id n o t re c e iv e a n o ffic e in th e P r o v is sio n a l A d m in is t r a t io n su g g e s ts t h a t th e P r e s id e n c y h a s
s o u g h t h im r a th e r t h a n t h a t h e h a s s o u g h t th e P r e si
dency.
S h ip -o w n e r s h a v e s h o w n m o r e c o n s id e r a tio n fo r th e ir
e m p lo y e e s t h a n th e u n io n a g ita to r s h a d d e c la r e d t h e m
U n it e d S o u t h A f r i c a ,E g y p t , th e D o m in io n o f C a n a d a ,
and
C h arge
n o t e t o th e P o r tu g u e s e M in iste r o f F o r e ig n A f fa ir s :
under
w e ld e d in to a c o m m o n fo r c e .
r e p r e s e n ta tiv e s t o
A m e r ic a n
[V O L . L X X X X I 1 .
m in g lin g
w ith
th e
p e o p le s
F o r e ig n m o n a r c h ie s d e le g a te d
c a p a b le o f.
T h e d e m a n d s p u t fo r w a r d w e re su c h t h a t
e m p lo y e r s c o u ld n o t g r a n t, y e t t h e y m a n ife s t e d a d is
p o s itio n to m e e t th e se a m e n h a lf w a y , a n d a fte r o n l y
a fe w d a y s ’ in te r r u p tio n t o tr a ffic , a c o m p r o m is e w a s
reach ed.
A
good
d e a l o f in c o n v e n ie n c e w a s e x p e r i
e n c e d a t th e p r in c ip a l B r itish p o r ts , b u t e lse w h e r e t h e
s o -c a lle d “ in te r n a tio n a l s tr ik e ”
p r o v e d a b o r t iv e .
No
p r in c e s t o a tt e n d t h e c e r e m o n y , a n d r e p u b lic s , in c lu d
d is lo c a tio n o f tr a ffic o ccu rre d in N e w Y o r k , n o r w a s
in g th e U n it e d S t a t e s , a p p o in te d s p e c ia l a m b a s s a d o r s ,
th e th r e a t t o d e c la r e a strik e all a lo n g th e c o a st p u t in to
w h ile all s e n t w a r s h ip s to jo in in th e n a v a l d e m o n s t r a
e x e c u t io n , a n a g r e e m e n t h a v in g b e e n q u ic k ly r e a c h e d .
tio n s w h ic h fo r m e d a fe a t u r e o f th e p r o g r a m m e .
The
The
t r a n s -A t la n t i c
v is it o r s , y e t so
m en
b e fo r e
B r itis h M e tr o p o lis w a s c r o w d e d
w ith
t h o r o u g h w e re th e a r r a n g e m e n ts t h a t n o t o n e a c c id e n t
o cc u r re d t o m a r th e r e jo ic in g .
s io n fr o m B u c k in g h a m
w ended
its
w ay
T h e e la b o r a te p r o c e s
P a la c e t o W e s t m i n s t e r A b b e y
th ro u gh
c h e e rin g
m asses,
not
one
any
lin es
se rio u s
se r v ic e w a s p o s s ib le .
cam e
to
te r m s w it h th e ir
in te r r u p tio n
to
th e
r e g u la r
T h e strik e r s m u s t b e c r e d ite d
w ith h a v in g se le c te d a p r o p itio u s tim e fo r a c t io n , in a s
m uch
as
th e
B r itis h
G overn m en t
w as
p a r tic u la r ly
d e siro u s o f p r e v e n t in g th e m a r r in g o f th e C o r o n a tio n
d is c o r d a n t n o t e b e in g h e a r d , n o t w it h s t a n d in g all th e
d e m o n s t r a tio n o n th e w a te r .
n o is y r id ic u le w h ic h th e S o c ia lis ts h a d s o u g h t t o c a st
th e m a g n a n i m i t y o f th e s h ip -o w n e r s w ill r e su lt in th e
u p o n th e C r o w n a n d all its h is to r ic t r a p p in g s .
e s t a b lis h m e n t o f c o rd ia l r e la tio n s b e tw e e n t h e m
e v e n in g
th e ir s e r v a n t s , fo r th e p u b lic w o u ld n o t fe el c o m f o r ta b le
w e re t h o s e h a n d lin g p a sse n g e r s te a m e r s a n im a te d b y
sa m e
lit
all
e n t h u s ia s m
over
as
th e
w as
cou n try
and
t h e c e le b r a tio n s w e r e c o n t in u e d t h r o u g h o u t y e s t e r d a y
th e
w e re
I n th e
and
w ith
b o n fir e s
I t is to b e h o p e d t h a t
m a n ife s te d
on
C o r o n a t io n D a y , th e n a t io n h a v in g o b s e r v e d a d o u b le
h o l id a y .
a fe e lin g
of
a n t a g o n is m
to
th e
t r a n s p o r t a t io n
com
p a n ie s .
W h a t in flu e n c e th e u n p r e c e d e n te d d e m o n
s tr a tio n s o f l o y a l t y w ill h a v e u p o n th e p o lit ic a l, th e
c o n s t itu t io n a l
p r o b le m s
w h ic h
c o n fr o n t
th e
T h u r s d a y a n d F r id a y h a v in g b e e n o b s e r v e d as h o li
new
d a y s in L o n d o n , th e B a n k o f E n g la n d d id n o t issu e
s o v e r e ig n a n d h is P a r lia m e n t c a n o n ly b e c o n je c tu r e d ;
its w e e k ly s t a t e m e n t as u s u a l, b u t w ill p u b lis h th e re
t h a t s o m e o f th e m o r e r e v o lu t io n a r y s t a t e s m e n
w ill
tu rn s
fe e l
th e
F o r th e first t im e in m a n y w e e k s C o n tin e n ta l c o m p e
c o m p e lle d
to
r e v is e
th e ir
a t t it u d e
to w a r d s
on
th e
r e s u m p tio n
of
b u sin e ss
th is
m o r n in g .
t it io n a p p e a r e d fo r th e n ew S o u th A f r ic a n g o ld offe red
C r o w n a n d its b u lw a r k s c a n w e ll b e im a g in e d .
o n M o n d a y , G e r m a n y h a v in g ta k e n $ 5 0 0 ,0 0 0 ; b u t , as
a n o ffs e t , P a r is h a s c o n tin u e d to sh ip m o d e r a te a m o u n ts
P o r t u g a l w a s fo r m a ll y p r o c la im e d a r e p u b lic b y th e
o f th e m e t a l to L o n d o n in p a y m e n t o f se c u r itie s re
n e w ly e le c te d C o n s t itu e n t A s s e m b l y o n M o n d a y , a n d
c e n t ly
fe s tiv itie s
m ay
o n W e d n e s d a y A n s e lm o B r a a c a m p w a s e le c te d P resi
h a v e e n ta ile d m o r e or less d e m a n d fo r g o ld c o in .
Our
d e n t.
s p e c ia l c o r r e sp o n d e n t in fo r m s us b y c a b le t h a t fo r th e
The
A s s e m b ly ,
w h ic h
o r g a n iz e d
w it h
192
p u rch ased .
The
C o r o n a tio n
D e p u t ie s , r a tifie d th e G o v e r n m e n t ’ s e d ic t p r o c la im in g
B a n k w e e k e n d in g o n W e d n e s d a y
th e r e p u b lic , d e c la r e d th e a b o litio n o f th e m o n a r c h y
in c re a se d £ 6 1 0 , 0 0 0 , n o t in c lu d in g th e in te rio r m o v e
a n d th e p r o s c r ip tio n o f th e B r a g a n z a d y n a s t y .
The
m en t.
Our
th e
d e ta ils
of
th e
g o ld
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th e
Bank
d e cre e
w as
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r e c e iv e d
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w ith
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e n t h u s ia s m
o u ts id e
th e
by
A s s e m b ly
B ank
c o r r e sp o n d e n t
fu r n ish e s
m ovem ent
w eek:
th e s t o c k o f g o ld
in
th e
and
Im p o rts,
follow ing-
out
of
th e
£ 6 2 1 ,0 0 0
(o f
B u ild in g , a n d th e d a y w a s o b s e r v e d as a n a tio n a l h o li
w h ic h £ 2 7 5 ,0 0 0 fr o m E g y p t , £ 6,000 fr o m F r a n c e a n d
day.
£ 3 4 0 ,0 0 0 b o u g h t in th e o p e n m a r k e t ) ; e x p o r t s , £ 5,000
N o d is tu r b a n c e s o f a n y n a tu r e o c c u r re d , a n d n o
u p r is in g b y R o y a lis t s is n o w a p p r e h e n d e d .
T h e first
P r e s id e n t o f th e R e p u b lic is th e P r e s id e n t o f th e L is b o n
M u n ic ip a l C o u n c il b u t w a s n o t a m e m b e r o f th e P r o
v is io n a l G o v e r n m e n t w h ic h a s s u m e d c o n tr o l o f a ffa irs
w h e n th e r e v o lu t io n is t s o n O c t . 5 p r o c la im e d
a r e p u b lic .
n iz e
th e
P o r tu g a l
T h e U n it e d S t a te s w a s p r o m p t t o re co g
new
r e p u b lic .
On
M onday
a fte r n o o n
th e
t o G ib r a lta r .
T h e s t a t e m e n t o f m o v e m e n t o f b u llio n
to a n d fr o m th e in te rio r w ill be issu ed t o -d a y .
T h e m in im u m d is c o u n t r a te o f 3 %
th is w e e k .
w as n ot changed
I n th e o p e n m a r k e t th e ch a rg e fo r a c c e p t
in g s p o t b ills a t th e close o n W e d n e s d a y w a s 2 j ^ ( % ,
w h ile b ills to a rriv e are n o m in a lly 2 3 - 1 6 % .
c o n tin u e s
p le n tifu l
in
P a r is ,
th e
p r iv a te
r a te
M oney
th e r e
THE CHRONICLE
J u n e 2 4 1911.]
b e in g s till 2 3 4 % fo r s p o t b ills a n d b ills to a r r iv e .
The
1667
a t u s u a lly s o m e w h a t lo w e r t e r m s t h a n th o s e o ffe re d b y
B a n k o f F r a n c e o n T h u r s d a y r e p o r te d a n in cre a se o f
le n d e r s .
$ 2 , 2 1 5 , 0 0 0 in its s t o c k o f g o ld , a s m a ll g a in in s ilv e r ,
w it h t h e m a x i m u m e a c h d a y 2 3 4 % .
C a ll m o n e y h a s a g a in r u le d d a ily a t 2 % % ,
A
a r e d u c tio n o f n e a r ly $ 7 ,0 0 0 ,0 0 0 in n o t e c ir c u la tio n ,
2%
a n in c re a se o f $ 1 5 ,5 0 0 ,0 0 0 in T r e a s u r y a d v a n c e s a n d
have
a g a in o f $ 1 ,7 5 5 ,0 0 0
Y e s t e r d a y th e
ra n g e w a s 2 3 4 @ 2 3 4 % ,
r a te in B e r lin w a s m a r k e d u p to 3 y&%, b u t w a s y e s
lo a n
234% .
terd a y
q u a li t y
lo w e r e d
to
in g e n e r a l d e p o s its .
334% ;
a c c e p t e d b ills a t 3 3 4 %
have
has
q u o te d
been
h ig h e r
an
2@ 234% .
in s tit u tio n s
have
fo r fu t u r e d e liv e r y , b u t o th e r s
fig u re s.
advance
N ext
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T h e spot
At
2% %
to
S a tu rd a y ’s
A m ste rd a m
and
at
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B r u s s e ls
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at
b e lo w
by
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C o m m e r c ia l
is s t ill s c a r c e , y e t
w eakened
The
put
re n e w a l
fig u re .
w it h t h e fin a l
paper
of
d is c o u n ts h a v e
c h o ic e
n o t been
th e ea sier t o n e in th e m o n e y m a r k e t .
e s t s i x t y t o n in e t y d a y s ’ e n d o r s e d b ills r e c e iv a b le
are d o n e a t 3 3 4 @ 3 ^ 4 % , th e c h o ic e st fo u r t o s ix m o n t h s ’
s in g le -n a m e b ills a t 3 % @ 4 %
are lik e ly t o p r o d u c e firm n ess a t a ll fin a n c ia l cen tres
at 434 @ 5 % .
d u r in g t h e n e w w e e k .
m o r e a c t i v i t y is lo o k e d fo r .
T h e B a n k o f B o m b a y h a s f o l
m in im u m o f
w a s r e c o r d e d o n T u e s d a y , b u t fe w t r a n s a c tio n s
a n d le ss d e sir a b le n a m e s
A f t e r t h e clo se o f t h e fisca l y e a r a lit tle
lo w e d th e e x a m p le o f t h e B a n k o f B e n g a l b y r e d u c in g
its o ffic ia l r a te fr o m 5 %
N o t w it h s t a n d in g t h e t w o -d a y s ’ h o lid a y in L o n d o n ,
to 4 % .
fo r e ig n e x c h a n g e h a s b e e n m o r e a c t iv e a n d r a te s h a v e
In ste a d
of
m oney
r a te s
h a v in g
advanced
lo c a lly
m o v e d u p w ard s.
F in a n c ia l in s tit u tio n s h a v e b e g u n t o
d u r in g t h e c lo s in g fo r tn ig h t o f th e h a l f -y e a r , a d is tin c t
a rr a n g e fo r t h e r e m itt a n c e o f fu n d s in c o n n e c t io n w ith
d e c lin e h a s o c c u r r e d , a n d th e r e is n o t y e t w ith in s ig h t
next
a n y e n la r g e m e n t o f th e d e m a n d fo r e ith e r s p e c u la tiv e
b o n d h o ld e r s ,
o r m e r c a n tile
S a tu r d a y ’s
e x t e n s iv e
p a y m e n ts
n o te h o ld e r s
p r o fe s s io n a l
r u t;
u n u s u a lly la r g e , sin ce E u r o p e a n s u b s c r ip tio n s fo r n e w
in d e e d , t h e d u ln e s s is a lm o s t a s p r o n o u n c e d as it w a s
A m e r ic a n issu es h a v e b e e n o n a g o o d sc a le a n d q u ite
w h ile
a fe w A m e r ic a n s t o c k s h a v e b e e n liste d in P a r is , e ith e r
change
has
th e
n arrow ed
m arket
d e c is io n s .
dow n
w as
T rad e
to
a
a w a itin g
th ro u gh o u t
th e
th e
th e
S u p rem e
cou n try
C ou rt
c o n tin u e s
b ill
o n th e P a r q u e t o r t h e C o u lisse .
to
T h is
year’s
on
d iv id e n d
o v e r -s e a
Ex
T r a d in g
and
to
s t o c k h o ld e r s .
S to ck
p u rp o ses.
in te r e s t
and
E uropeans
is
I t w a s c o n te n d e d b y
so q u ie t t h a t c u r r e n c y is s till b e in g r e m itt e d t o N e w
e x c h a n g e d e a le rs n o t lo n g sin ce t h a t t h e s e t t le m e n t s
Y ork ,
w o u ld
d e s p ite
th e
lo w
re tu rn s
o b t a in a b le .
Then
fo r e ig n e x c h a n g e r a te s e a r ly in th e w e e k fe ll to th e lo w
e v e l sin c e J a n u a r y , a n d th e q u e s tio n o f g o l d im p o r ts
b e fo r e th e e n d o f J u ly is b e in g d is c u s s e d .
T h e offe r
be
e ffe c te d
w it h o u t
s tiffe n in g
r a te s
to
any
m a r k e d d e g r e e , b u t it is n o w sa id t h a t a s h o r t a c c o u n t
o f s o m e m a g n it u d e h a s b e e n
c r e a te d b y
e x p e c te d t o c o v e r a t lo w fig u re s.
th o se
who
D u r in g th e la s t fe w
in g s o f n e w c o r p o r a te se c u ritie s h a v e b e e n lig h t a n d
d a y s th e r e c o v e r y h a s b e e n s t im u la t e d b y p u r c h a se s
p a y m e n t fo r th e $ 5 0 ,0 0 0 ,0 0 0
is s u e h a s n o t
fr o m
th u s
w o u ld n o t b e a v e r se t o k e e p in g t h e m a r k e t o n a le v e l
yet
been
m ade.
Panam a
E v e r y th in g ,
it
w ill
be
seen,
th e
cu rren t
q u o t a t io n s
so u r c e .
The
m ore
p o w e r fu l
in s tit u tio n s
w h ic h w o u ld n o t p e r m it th e s e g a m b le r s t o fu lfil th e ir
h a s c o n s p ir e d t o k e e p d o w n in te r e s t r a te s .
W h e th e r
th is
w ill
c o n tin u e
c o n t r a c t s w it h o u t lo s s , b u t if q u o t a t io n s g o a p p r e c ia b ly
d u r in g t h e n e x t m o n t h w o u ld a p p e a r t o b e q u e s tio n
a b o v e 4 86 fo r d e m a n d a n d 4 8 6 3 4 fo r c a b le tr a n s fe r s ,
a b le .
in te r n a tio n a l b a n k e r s w h o h a v e la r g e cr e d its a b r o a d
T h e P a n a m a b o n d s m u s t b e p a id f o r , th e J u ly
in te r e s t a n d d iv id e n d d is b u r s e m e n ts w ill h a v e to b e
w o u ld n o d o u b t b e r e a d y t o d r a w b ills .
m e t , n e w fin a n c in g is lik e ly t o a rise , t h e c o m m e r c ia l
le v e l o f 4 8 5 ^ 4 fo r s ig h t d r a ft s o n M o n d a y t o 4 86 o n
d e m a n d s are e x p e c te d t o in c re a se a p p r e c ia b ly a r o u n d
T h u r s d a y w a s t h e e x t e n t o f t h e a d v a n c e d u r in g t h a t
J u ly
1 5 , t h e C a n a d ia n b a n k s m a y r e s u m e t h e w i t h
p e r io d ,
w h ile
y e sterd a y
m a x im u m
th e
b a s is
s h o u l d , t h e r e fo r e , b e m o r e in te r e s tin g t h a n t h o s e o f
th e
ra n g e
o f p o s s ib ilit y
th a t
c lo s e .
N ext
w eek’ s
becam e
ea sier
w as
lik e ly te m p o r a r ily to m o v e a w a y fr o m th e g o ld -im p o r t
is w ith in
ton e
of 4 8605
recorded,
it
th e
a
d r a w a l o f g o ld fr o m th is c e n tre n e x t w e e k , s te r lin g is
and
th o u g h
F r o m a lo w
m o v em en ts
in
b e fo r e
exchange
a g r ic u ltu r a l or p o litic a l n e w s w ill s tir u p m o r e a c t i v i t y
t h e la s t m o n t h .
in s t o c k s p e c u la tio n .
in to J u l y , a s t h e p a y m e n t s t o E u r o p e a n s w ill n o t b e
of
a
g e n e ra l
m on th s,
r e v iv a l
th o u g h
th e
O p in io n s d iffe r a s t o t h e c h a n c e s
in
tr a d e
best
d u r in g
a u th o r itie s
th e
su m m er
in c lin e
to
th e
T h e fir m n e ss m a y la s t fo r s o m e t im e
a ll m a d e a t th e v e r y b e g in n in g o f t h e m o n t h .
T here
a ft e r , h o w e v e r , a r e la p se t o e v e n lo w e r te r m s t h a n a n y
b e lie f, t h a t , s h o u ld n o th in g o f a v e r y d is t u r b in g n a tu r e
q u o t e d in J u n e is r e g a r d e d as lik e ly .
o c c u r in th e c r o p -g r o w in g S t a te s o r a t W a s h i n g t o n ,
N ew
a r e c o v e r y w ill s e t in d u rin g th e fa ll s e a s o n .
B a n k o f F r a n c e a n d n o t h in g h a s o c c u r re d in t h e in te r
fa c ilitie s
fo r
b r a n c h in g
out
can
e x t r e m e ly a tt r a c tiv e t e r m s .
be
C e r t a in ly ,
o b t a in e d
upon
T h e fe a tu r e o f t h is w e e k ’ s
Y ork
w e re
r e se n te d
a fe w
G o ld im p o r t s t o
w eeks
ago
by
th e
v a l t o s u g g e s t t h a t a m o v e m e n t w o u ld b e le ss u n w e l
c o m e in t h e n e a r fu t u r e .
L o n d o n ’ s a t t it u d e h a s n o t
m o n e y m a r k e t h a s b e e n a r e d u c tio n in l o n g -t e r m r a t e s ;. b e e n so c le a r ly e s t a b lis h e d ;
as t h e B a n k o f E n g la n d ’ s
and
s t o c k o f b u llio n is fa r a b o v e n o r m a l, a n d a s th e r e are
o v e r -t h e -y e a r fa c ilitie s a t 3 * 4 % , w ith b o r r o w e r s n o w
n o e x t r a o r d in a r y d e m a n d s p e n d in g fr o m o th e r q u a r
b id d in g
te r s , t h e a s s u m p t io n m a y r e a s o n a b ly b e fo r m e d t h a t
s ix m o n t h s ’ fu n d s h a v e b e e n
o n ly
334% -
The
procu red a t
la te s t
3^4%
b a n k in g
sta tis tic s
p u b lis h e d lo c a lly a n d else w h e re s h o w t h a t t h e p o s it io n
is v e r y s t r o n g , w h ile t h e o u t lo o k fo r t h e a u t u m n
is
T h e d e ta ile d ra n g e fo r t im e m o n e y a t t h e c lo s e o f t h e
a s fo llo w s : 2 3 4 % . fo r s i x t y
n in e t y d a y s ,
fo r
fiv e
2% @ 3%
m o n th s,
354@ 324%
fo r
fo u r
3M % @ 334%
fo r o v e r -t h e -y e a r .
days,
m o n th s,
fo r
s ix
2% %
fo r
3@ 334%
m o n th s
and
T h e d e m a n d is li g h t ,
a lm o s t t h e o n ly in q u ir y b e in g fo r t h e lo n g e s t p e r io d s ,
C om pared
w it h
F r id a y
o f la s t
w eek,
ste r lin g
ex
c h a n g e o n S a t u r d a y w a s s lig h tly e a sie r, w ith d e m a n d
im p r o v e d b y th e in te r n a tio n a l tr a d e c o n d itio n s .
w e e k is
a n in flo w w o u ld n o t b e a n t a g o n iz e d .
q u oted
at 4 85 80 @ 4 8 5 8 5 ,
c a b le tra n sfe rs a t 4 8 6 @
4 8 6 0 5 and s ix ty d a y s a t 4 8 3 6 5 @ 4 8 3 7 0 .
O n M onday
d e m a n d d e c lin e d , o n d u ll t r a d in g , t o 4 8 5 7 5 @ 4 8 5 8 0
a n d c a b le tr a n s fe r s t o 4 8 5 9 5 @ 4 8 6 ;
v a n c e d to 4 8 3 7 0 @ 4 8 3 7 5 .
on
T u esd ay,
a lth o u g h
s ix ty d a y s ad
T h e r e w a s a firm e r t o n e
tr a d in g
w as
lig h t;
dem and
1668
m oved
THE CHRONICLE
u p to
4 8 5 8 0 @ 4 8585
and
c a b le tra n s fe r s to
[VO L. L X X X X I I .
to d a t e — w ith a b o u t o n e w e e k r e m a in in g to th e y e a r —
4 8 6 @ 4 8 6 0 5 ; b u t six ty d a ys w as w eak er at 4 8 3 6 5 @
is $ 1 7 ,0 0 0 ,0 0 0 .
T h is d e fic it w a s w h o lly c a u se d b y a
4 8375.
$ 3 5 ,0 0 0 ,0 0 0
e x p e n d itu r e
O n W e d n e s d a y s te r lin g o p e n e d a n d r e m a in e d
h ig h e r , a t 4 8 5 8 5 @ 4 8 5 9 0 fo r d e m a n d , 4 8 6 0 5 @ 4 8 6 1 0
d u r in g
fo r c a b le tra n sfe rs a n d 4 8 3 7 0 @ 4 8 3 8 0 fo r s i x t y d a y s .
im b u r s e
D e m a n d a d v a n c e d s h a r p ly o n T h u r s d a y , d u e to p r e p a r
b on d s.
a tio n s fo r th e
1 s e t t le m e n t s , t o
J u ly
c a b le tra n s fe rs t o 4 8 6 2 0 @ 4 8 6 3 0
4 8 3 9 0 @ 4 84.
4 8 5 9 5 @ 4 86,
net
th e
p e r io d .
th e
H ence
T rea su ry
on
th e
th e
th ro u gh
B u t th is is o n ly p a r t o f th e s t o r y .
of
re
th e se
W h e n th e p r e se n t
S e c r e ta r y o f th e T r e a s u r y a s s u m e d o ffic e in 1 9 0 9 , t h e
O n F r id a y fo r e n o o n d e m a n d to u c h e d
d o u b le p r o b le m o f th e p u b lic c r e d it a n d o f th e n a tio n a l
b a n k c ir c u la tio n c o n fr o n te d h im .
he
60
to
a n d s i x t y d a y s to
a r e la p se fo llo w e d
fo r
C anal
p la n
proceed s
4 86 @ 4 8 6 0 5 a n d c a b le t r a n s fe r s 4 8 6 3 0 @ 4 8 6 3 5 , b u t
4 8410
Panam a
p r e se n t
and
th e
m arket
c lo se d
4 8 5 9 0 @ 4 86
days,
4 8 6 2 5 @ 4 8 6 3 0 fo r c a b le s .
fo r
at 4 84 @
dem and
and
C o m m e r c ia l o n b a n k s w a s
a d v o ca ted
th e
im m e d ia t e
I n his first r e p o r t
a d o p t io n
th e
p la n
o f p a y in g fo r th e C a n a l t h r o u g h b o n d s , u r g in g
of
th a t
T h e e x p r e sse d p o lic y o f th e G o v e r n m e n t to p a y th e
q u o ted at 4 8 3 % @ 4 8 3 %
a n d d o c u m e n ts fo r p a y m e n t
c o s t o f th e C a n a l fr o m th e p r o c e e d s o f b o n d s , in o rd e r
4 83% @ 4 83% .
fo r
t h a t th e n e x t g e n e r a tio n or tw o s h a ll sh a r e w ith th is
C o tto n
4 83% @ 4 83% ,
g ra in
fo r
paym ent
paym ent
ra n g e d
fr o m
fr o m
4 83% @
4 83% .
th e c o st o f th e g r e a t e n te r p r is e , s h o u ld b e se c u re d a n d
e s t a b lis h e d .”
B u t th e S e c r e ta r y w e n t fu r t h e r t h a n th is
in h is s u b s e q u e n t r e p o r t.
T h e fo llo w in g g iv e s t h e w e e k ’ s m o v e m e n t o f m o n e y
w as
t o a n d fr o m th e in te rio r b y th e N e w Y o r k b a n k s .
R e c o g n iz in g t h a t th e b a sis
ol g o v e r n m e n t b o n d s e c u r ity fo r n a tio n a l b a n k n o t e s
an u n e c o n o m ic
p la n
w h ic h
of recent years h a s
w o r k e d v e r y b a d l y , a n d r e c o g n iz in g also t h a t th e fu r
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Week ending June 23 1911.
Net Interior
Movement.
Currency---------- --------------------------Gold .......................... ............. ...........
$11,429,000
2,067,000
$4,238,000 Gain $7,191,000
946,000 Gain 1,121,000
Total gold and legal tenders-........
$13,496,000
S5,184,000 Gain $8,312,000
th e r in d efin ite in cre ase o f b a n k n o te issu es o n su c h a
b a sis w o u ld c o m p lic a te fu tu r e p la n s fo r r e fo r m o f th e
c u rr e n c y s y s t e m , he a d v o c a t e d th e issu in g o f b o n d s
w it h o u t w h a t h a s b e e n k n o w n as th e “ c ir c u la tio n p r iv i
W ith
th e S u b -T r e a s u r y o p e r a tio n s th e re su lt is as
le g e .”
T h e S e c r e ta r y r e c o g n iz e d , as d id all o th e r p e o p le ,
fo llo w s .
th a t
Into
Banks.
Week ending June 23 1911.
Banks’ Interior movement, as above.
Sub-Treasury operations............ .......
Total gold and legal tenders-
Out o f
Banks.
| Net Change in
|Bank Holdings.
$13,496,000
26,200.000
$5,184,000 Gain $8,312,000
27,100,000 Boss
900,000
S39,696,000
$32,284,000 Gain $7,412,000
a
c e r ta in
a rtific ia l
G overnm ent bonds
2%
June 22 1911.
England.
France . .
Germany .
Kussla . .
Aus.-Hun
Spain___
Italy. . . .
Neth’lands
Nat. Belg.
Sweden . .
Switz’iland
Norway . .
Silver.
£
£
102,451
778,600
395,150
062,000
927.000
558.000
840.000
576.000
721,333
663.000
434.000
,080,000
|
June 23 1910.
Total.
Gold.
£
£
. . . 40,102,
34,245, 600,163,024,
16,471, 050 60,866,
7,727, 000 152,789,
12,992,
68,919
31,173,
47,731
3,534
43,374
2,058,
13,634
3,360
10,082
4,663
6,434
2,080
to
o f u se
as
b o n d s c o u ld p r o b a b ly n o t b e so ld a t p a r or b e t te r
T h e r e fo r e he p r o p o s e d a 3 %
issu e , a n d s u p p o r te d t h a t r e c o m m e n d a t io n b y th e u n
S t a te s
Gold.
im p a r te d
p r iv ile g e
d o u b te d ly c o r r e c t s t a t e m e n t t h a t n e ith e r th e U n ite d
in th e p r in c ip a l E u r o p e a n b a n k s .
Banks of
w as
th is
c o lla te r a l fo r b a n k n o t e s , a n d h e fr a n k ly d e c la r e d t h a t
w ith o u t t h a t p r iv ile g e .
T h e fo llo w in g t a b le in d ic a te s th e a m o u n t o f b u llio n
v a lu e
th r o u g h
Silver
,042,103
,495,720
,749,400
,426,000
.504,000
,248,000
,035,000
,781,000
.300,667
,419,000
,610,000
,734,000
G overn m en t
nor
any
o th e r
govern m en t
sesse d a le g it im a te b o r r o w in g p o w e r o n a 2 %
Total.
£
43 ,042,103
35,602 ,720172 ,098,440
15,072 ,250 57 ,821,650
8,628 000 146,,054,000
13,468 000 68, 972.000
31,238 000 47,,486,000
3,925
,960,000
2,409
190,400
2,150
,451,000
449.000
,610,000
,734,000
Total week'502,137,534 111,561,817 613,699,3511495,374,890 112,493,703 607,868,593
Prcv. week 498,823,224 110,906,797 609,730,021493,037,231 111,990,580,605,027,811
p os
b a s is ,
a n d t h a t th e so o n e r th e G o v e r n m e n t ’ s p r o p e r p o sitio n
in
th e
m arket
w as
r e c o g n iz e d
th e
b e t te r .
In
h is
r e p o r t o f la s t D e c e m b e r , th e S e c r e ta r y s t a t e d t h a t if a
$ 5 0 ,0 0 0 ,0 0 0 3 %
lo a n
w e re to
b e issu e d w it h o u t th e
c ir c u la tio n p r iv ile g e , “ w e sh o u ld b e a b le to g a u g e e x
p e r im e n t a lly th e r a te a t w h ic h th e G o v e r n m e n t c o u ld
b o r r o w o n a n in v e s tm e n t b a s is , a n d w e sh o u ld th e n
b e b e tte r a b le to fo r m u la t e a fin a n cia l p o lic y fo r th e
fu t u r e .”
T h is
THE GOV E RN M E N T’S N E W LOAN.
3
is th e
T h e r e a re m a n y re a s o n s w h y th e sa le o f 1 5 0 ,0 0 0 ,0 0 0
h as been
per
is
c e n ts
by
th e
U n it e d
S ta te s
G overn m en t
re a so n
why
la s t
S a t u r d a y ’ s sa le — th e
first G o v e r n m e n t b o n d sa le in fo r t y -e ig h t y e a r s w h ic h
la st
in
m a d e w it h o u t
its
w ay
our
first p la c e ,
p r iv ile g e —
n a tio n a l
very
g re a t
fin a n c e .
fin a n ce .
T h e o c c a s io n fo r th is lo a n is d o u b tle s s u n d e r
n a tu r a l c u r io s ity as to w h a t th e re su lt o f su c h a sa le
sto o d b y
e v e r y o n e ; its p u r p o s e is to r e im b u r se th e
w o u ld b e .
th e
c ir c u la tio n
in
T here
its o rd i
in
th e
la n d m a r k
S a t u r d a y w a s a n e v e n t o f b r o a d in te re st in A m e r ic a n
T r e a s u r y fo r its p r e v io u s e x p e n d itu r e s fr o m
w as,
a
and
very
F o r a tim e th e r e w a s e v e n a q u e s tio n a s to
w h e th e r th e r e q u ire d p rice o f p a r c o u ld b e o b ta in e d fo r
n a r y ca sh b a la n c e , in p a y m e n t fo r w o r k o n th e P a n a m a
su c h
C a n a l.
has been e x
m a r k e t v a lu e o f p u b lic s e c u r itie s— o b s e r v e d n o t o n ly in
Up
to
th e p r e s e n t d a t e
th e r e
a
lo a n .
The
p r o lo n g e d
d e p r e c ia tio n
in
th e
p e n d e d fo r th a t p u r p o s e $ 2 3 9 ,0 0 0 , 0 0 0 , o f w h ic h s o m e
t h e case o f N e w Y o r k C i t y ’ s lo a n s , b u t in th e G o v e r n
th in g o v e r $ 8 7 ,0 0 0 ,0 0 0 h a s b e e n p r o v id e d th r o u g h sale
m ent
o f b o n d s , le a v in g n e a r ly $ 1 5 2 ,0 0 0 ,0 0 0 w h ic h h a s b een
e v e n t h a t q u e stio n d o u b t f u l.
d r a w n fr o m th e g e n e r a l T r e a s u r y fu n d a n d is b y la w
s u r e ly in a d v a n c e w h a t h a d b e e n
r e p a y a b le to th e T r e a s u r y as a r e s u lt o f b o n d sa le s.
v a lu e o f th e c ir c u la tio n p r iv ile g e .
T h e r e are a u th o r iz e d a n d n o t y e t issu e d fo r th e p u r
sa le d rew n e a r , th e c o m m o n e s t im a t e in th e b a n k in g
p o se
of
P anam a
C anal
c o n s t r u c t io n ,
in c lu d in g
re
issu es
of
all
fo r e ig n
S ta te s— seem ed
to
m ake
N o o n e c o u ld e s t im a t e
th e e x a c t m a r k e t
A s th e tim e fo r th e
c o m m u n it y w a s t h a t th e b o n d s w o u ld sell a b o v e p a r ,
im b u r s e m e n t o f th e T r e a s u r y , b o n d s t o th e a m o u n t
b u t co u ld n o t b rin g m o r e o n th e a v e r a g e t h a n
o f $ 2 9 0 ,5 0 0 ,0 0 0 , a n d o f th is a m o u n t th e $ 5 0 ,0 0 0 ,0 0 0
L ast
issu e p la c e d la s t S a t u r d a y w a s a p a r t.
is s u e d ” w e n t as h ig h as 1 0 3 % , b u t h e ld as a rule b e lo w
N o w , so fa r a s c o n c e rn s th e T r e a s u r y it s e lf , its t o t a l
d e ficit in r e v e n u e b e lo w e x p e n d itu r e fo r th e fiscal y e a r
103.
w eek
W hen
th e
cu rb
b id
fo r
th e
n ew
bonds
10 2 .
“ w hen
th e te n d e rs fo r la st S a t u r d a y ’ s G o v e r n
m e n t offer h a d b e e n c o m p ile d
it w a s fo u n d t h a t th e
lo a n h a d
1661)
THE CHRONICLE
J u ne 2 4 1 9 1 1 .]
b e e n p e r h a p s t h r e e t im e s c o v e r e d ,a n d t h a t
th r o u g h r e a d ju s t m e n t o f p r ic e s , t o b r in g m o r e c lo se t o
a n e v e n b a sis th e in v e s t m e n t y ie ld o f th e o ld a n d th e
t h e a v e r a g e p rice o f th e su c c e s s fu l b id s w a s 1 0 2 .5 0 .
N o w , t h is r e s u lt le ft tw o in te r e s tin g q u e s tio n s b e h in d
new b on d s.
i t — fir s t, w a s th is a s a t is fa c t o r y r e s u lt , a n d , s e c o n d ,
T h is s o m e w h a t c o m p lic a t e s th e q u e s t io n as t o t h e
w h a t d id th e re s u lt fo r e s h a d o w as r e g a r d s th e m a r k e t
fu t u r e m a r k e t fo r o u r G o v e r n m e n t 3 p e r c e n t s w it h
fo r th e $ 2 4 0 ,0 0 0 ,0 0 0 m o r e in lo a n s w h ic h are a u t h o r
o u t th e r ig h t fo r u se as a b a sis fo r c ir c u la t io n .
iz e d fo r c o m p le t io n o f th e c a n a l?
T h a t s o m e d is a p
q u e s t io n m u s t , m o r e o v e r , d e p e n d o n t h e fu t u r e c o u r se
p o in t m e n t h a s b e e n fe lt a t th e r e la tiv e ly s m a ll o v e r
o f th e in v e s t m e n t m a r k e t its e lf, a n d t h a t is s o m e t h i n g
s u b s c r ip t io n , a n d a t t h e f a c t t h a t th e a v e r a g e p rice
r a th e r
d id n o t m e e t th e m a x i m u m b id o n th e c u r b , m u s t b e
d is t in c t
a d m it t e d .
B u t t h a t , a ft e r a ll, w a s a c o n s e q u e n c e o f
p rice
d iffic u lt
and
of
to
fo r e se e .
That
th e r e
has
That
been
e n c o u r a g in g im p r o v e m e n t la t e l y
h ig h -g r a d e
se c u re d
is v e r y s u b s ta n tia lly
o f th e 3 %
a b o v e th e
T h e price
m a r k e t rate
lo a n s o f su c h im p o r t a n t E u r o p e a n S t a te s as
F rance and G erm a n y.
I t is h ig h e r t h a n th e p r e se n t
2]/2%
p rice o f th e B r itis h
c o n s o ls w o u ld in d ic a t e , if
r e d u c e d to th e e q u iv a le n t fo r a 3 %
lo a n .
I t is a b o v e
P o s ta l
know n
S a v in g s
to
la w , w h ic h h a s n o t y e t r e a lly g o t in to o p e r a t io n , m a y
c o m m u n ity , S a tu r d a y ’ s
th e
is
In
o f th e b a n k in g
a d d it io n ,
bon d s,
every
th e v ie w
In
in v e s t m e n t
e x a g g e r a t e d e x p e c t a t io n s o n th e e v e o f th e b o n d sa le .
s a le m u s t b e c la s s e d as h ig h ly s a t is fa c t o r y .
one.
a
in th e
Bank
c o n c e iv a b ly h a v e its in flu e n c e h e r e a fte r o n th e d e m a n d
fo r n e w
G ov ern m en t b on d s.
T h a t , it m u s
be con
fe s s e d , is a s o m e w h a t d u b io u s r e lia n ce , th e m o r e so in
th a t
th e
r a th e r
P o s ta l
m ore
S a v in g s
p o s it iv e ly
to
la w
tu r n e d
th e
c a llin g
its
in
a tt e n t io n
o f th e
o ld
3 p e r c e n ts fr o m b a n k s a n d tr a n s fe r r in g t h e m to th e
S p a n is h W a r lo a n o f 1 8 9 8
P o s ta l S a v in g s a c c o u n t t h a n it d id t o th e m o r e i m
w a s s o ld — a lth o u g h it is fa ir to s a y t h a t th e w a r lo a n
p o r ta n t q u e s t io n o f s u b s c r ip tio n t o th e n e w G o v e r n
p r o m p tly
m e n t issu e s.
th e p ric e a t w h ic h th e 3 %
rose
to
a
s u b s ta n tia l
p r e m iu m
on
th e
B u t , w h a t is m o s t i m p o r t a n t , th e G o v e r n
B u t o n th e o th e r h a n d , it m u s t b e k e p t in m in d t h a t
m e n t b o n d sa le h a s a c t u a lly a c h ie v e d b y a c o n s id e r a b le
b o n d issu es fo r th e P a n a m a C a n a l are n o t m a n d a t o r y in
m a rk e t.
m a r g in w h a t s o m e r e s p e c ta b le e c o n o m is ts a y e a r or t w o
th e sen se t h a t th e G o v e r n m e n t is b o u n d t o raise m o n e y
a g o h a d d e c la r e d t o b e im p o s s ib le .
fo r su c h p u r p o s e s a t s t a ed d a t e s .
I t is s till p o s s ib le ,
T h e s e c o n d q u e s t io n , w h a t th e r e su lts of th is sa le
fo r c o n s id e r a b le in te r v a ls o f t im e , t o p r o v id e fo r th e
in d ic a t e fo r fu tu r e G o v e r n m e n t lo a n s , is m o r e d iffic u lt
fin a n c in g o f th e P a n a m a C a n a l t h r o u g h th e T r e a s u r y ’ s
t o a n sw e r .
general
I t is im p o s s ib le t o ig n o re th e fa c t t h a t th e
p ric e o b t a in e d
fo r S a t u r d a y ’ s G o v e r n m e n t 3 %
fu n d ;
and
up
to
a
c e r ta in
p o in t
th e r e
a re
o ffe r
d is t in c t a d v a n t a g e s in su c h a p o lic y , sin ce it a v e r ts
o p p o r t u n it y
th e a c c u m u la tio n o f t h a t u n w ie ld y T r e a s u r y s u r p lu s
o ffe re d fo r e x c h a n g in g th e s e n e w b o n d s , w it h o u t th e
w h ic h w a s its e lf a tr o u b le s o m e in flu e n c e o n o u r m o n e y
c ir c u la tio n
m a r k e ts d u r in g th e d e c a d e p a s t .
w as
in
so m e
degree
p r iv ile g e ,
in flu e n c e d
fo r
o ld e r
by
th e
U n it e d
S t a te s
issu es
A t all e v e n t s , th e
G o v e r n m e n t m a y w ith in r e a s o n a b le lim its
c h o o se its
to th e 3 p e r c e n ts o f 1 8 9 8 , b e c a u s e th o s e b o n d s are n o w
ow n
o ’
r e d e e m a b le a t th e G o v e r n m e n t ’ s o p t io n , a n d h en ce sell
b o r r o w in g s
o n th e m a r k e t a t a lo w e r p rice t h a n th e n e w 3 p er c e n ts
le g e .
w h ic h s till e n j o y t h a t p r iv ile g e .
com m and.
still
T h is d o e s n o t a p p ly
o u t s t a n d in g
and
w h ic h
do
not
m a tu re
t im e
w e re
u n til 1 9 2 5 , w e re fo u n d t o o ffe r a v e r y p r o fita b le b a s is
a
of exchange.
a ffe c te d
B y s e llin g th e s e b o n d s a t th e m a r k e t p rice a n d b u y
fo r
c o n t in u in g
on
bonds
th e
e x p e r im e n t
w it h o u t
th e c ir c u la tio n
p u b lic
p r iv i
I t is a d m itt e d t h a t th e c ir c u m s ta n c e s o f th e p r e se n t
B u t th e G o v e r n m e n t ’ s 4 p e r c e n ts , w h ic h
r e m a in
t im e
in
su c c e s s fu l
m any
r e sp e c ts
lo a n .
J u st
u n u s u a lly
how
th e
f a v o r a b le
p ric e
w o u ld
to
be
a t a n o th e r t im e , w h e n b a n k r e se r v e s m ig h t
b e lo w , d e m a n d fo r c a p ita l in tr a d e p a r tic u la r ly a c t iv e ,
in g n e w 3 p e r c e n ts a t th e s u b s c r ip tio n p rice , it w a s
a n d d iv e r s io n o f in te re st t o s p e c u la tio n g e n e r a l, is a
p o ssib le to e x c h a n g e a n in v e s t m e n t w ith a n e t y ie ld
m a t t e r o f c o n je c tu r e .
of
2% %
fo r a n in v e s t m e n t w ith
p r o x im a t e l y 2 y%%.
T h is
a n e t y ie ld
of ap
in d u c e m e n t n a t u r a lly
ap
n ote
c ir c u la tio n ,
p e a le d to in s tit u tio n s s u c h as life in s u ra n c e c o m p a n ie s
u n c o n n e c te d
w h ic h h o ld la rg e b lo c k s o f th e o ld 4 p e r c e n ts fo r p u re
so o n e r
in v e s t m e n t p u r p o s e s , a n d to o th e r h o ld e r s o u ts id e
of
n a t io n a l b a n k s , s u c h as u se th o s e b o n d s as a b a s is fo r
c ir c u la tio n o r fo r p u b lic d e p o s it s .
by
th e
c ir c u la tio n
p r iv ile g e
is
p r o b a b le ,
t h e r e fo r e ,
th a t
as
a
th e
re su lt
of
in flu e n c e s
r e q u ir e m e n ts
of
tra d e ,
la te r b e b r o u g h t t o a h a lt a n d
w h o lly
m u st
in th is e n
d e a v o r , S a t u r d a y ’ s b o n d sa le is th e im p o r t a n t in itia l
ste p .
issu e is a f
c o n fe rre d
on
th e
o ld e r G o v e r n m e n t is s u e s .
It
or
w it h
I t w ill th u s b e see n
t h a t to s o m e e x t e n t e v e n th e n e w b o n d
fe c te d
T h e o n e u n q u e s tio n a b le fa c t in
th is fu t u r e is t h a t th e h a p h a z a r d in c re a se o f o u r b a n k
a lth o u g h
th e
n ew
3 p e r c e n ts c a n n o t b e u se d as a b a s is fo r c ir c u la tio n ,
FURTHER LIGHT UPON THE A N T I-TRUST
LAW.
The
d e c isio n
of
th e
U n it e d
S t a te s
C irc u it
C ou rt
th is w e e k fo r th e D is t r ic t o f D e la w a r e d e c la r in g th e
th e ir u se fo r th e p u r p o s e o f tr a n s fe r r in g o ld e r G o v e r n
D u P o n t P o w d e r C o . (t h e E . I . d u P o n t d e N e m o u r s
m e n t b o n d s fr o m t h e h a n d s o f o u ts id e in v e s to r s to th e
P o w d e r C o . ) , t o g e t h e r w ith
h a n d s o f n a t io n a l b a n k s m a y a c t u a lly r e su lt in s o m e
in d iv id u a ls ,
in c re a s e , g r e a t o r s m a ll, o f n o te c ir c u la t io n b a s e d o n
r e s tr a in t o f in t e r -S t a t e c o m m e r c e in p o w d e r a n d o th e r
G overn m en t b on d s.
F u r th e r m o r e , th is in flu e n c e w ill
e x p lo s iv e s is n o t so m u c h n o t e w o r t h y o n its o w n a c
in a d e g r e e c o n tin u e so lo n g as m a r k e t v a lu e s ju s t i f y ;
c o u n t as it is fo r th e in te r p r e ta tio n it p u ts u p o n th e
g u il t y
of
2 7 o th e r c o m p a n ie s a n d
m a in t a in in g
a c o m b in a t io n
in
fo r th e r e a re n o w o u t s t a n d in g in o th e r q u a r te r s t h a n
re c e n t d e c isio n s o f th e U . S . S u p r e m e C o u r t in th e ca se s
th e n a tio n a l b a n k s n o le ss t h a n $ 9 2 ,0 0 0 ,0 0 0 o f th e o ld
o f th e S t a n d a r d O il C o . a n d th e A m e r ic a n T o b a c c o C o .
4 per c e n ts.
T h e C irc u it C o u r t u n d e r ta k e s a d ir e c t a p p lic a tio n o f
B u t o f co u rse e a c h e x c h a n g e o f th e so rt
r e d u c e s th e s u p p ly a v a ila b le fo r s im ila r o p e r a tio n s in
th e ru les la id d o w n in th e se c a se s.
th e fu t u r e , a n d , fu r t h e r m o r e , its t e n d e n c y s h o u ld b e ,
in its d e cre e a g a in s t th e P o w d e r C o m p a n y it u ses th e
N o t o n ly t h a t , b u t
1070
THE CHRONICLE
[VOL. L X X X X I I .
identical language employed by the Supreme Court of the statute, but said the law must be construed in
in the Tobacco case.
the “ light of reason” or “ by the rule of reason.”
The opinion is by Judge William M. Lanning (Judges
We notice that President Taft in his talk this week
George Gray of Wilmington and Joseph Buffington before the Yale alumni, in praising the Supreme
of Pittsburgh concurring), and after enjoining the de Court, expressed the belief that “ those decisions have
fendants from continuing the combination. which is done and will continue to do great good to all the
found illegal,and ordering its dissolution, fixes Oct. 1G business of the country and that they have laid down
next as the date for a hearing as to the nature of the a line of distinction which it is not difficult for honest
final injunction to be granted and as to any plan for and intelligent business men to follow. They have
dissolving the combination which shall be submitted said that that statute applies to conspiracies and at
by the defendants or by the Government. The object attempts to restrain trade which are undue orunrepsonof the hearing is stated to be to “ ascertain and deter able because their intent and effect is partly, or wholly,
mine upon a plan or method for such dissolution which to monopolize, to exclude or supress competition,and
will not deprive the defendants of the opportunity to control prices, and not to combinations or associations
re-create out of the elements now composing said com in the normal development of business where there
bination a new condition which shall be honestly in may be some incidental restraint that was not tho
harmony with and not repugnant to the law.” The object of the combination or the association. There
similarity of the language here to that employed by to e, it becomes largely a question of fact and a
the Supreme Court in the Tobacco case will be readily question of conscience with the business community
recognized.
that they can well follow and make the standard of
Judge Lanning, after noting that, when the suit their future action.”
was begun by the Government in 1907, the Du
We are not so firmly convinced in our own mind as
Pont Company, organized in 1902, controlled in the President is in his that the distinction here referred
the United States from 64% to 100% of the trade to is going to be as easy to make as ho thinks it will be.
in various kinds of powder, takes occasion to point At all events, by disregarding tho strict language of
out that. according to the interpretation put by the the statute and applying instead “ the rule of reason,”
Supreme Court in the cases already referred to upon with the idea of giving effect to the apparent purpose
the Sherman Anti-Trust law, that statute does not and intent of the law-maker, the possibilities of extend
condemn every combination “ to prevent competition.” ing the scope of the law are multiplied many fold.
What the statute does condemn is “ every combination It appears quite among the probabilities that under
in restraint of trade or commerce among the several the so-called rule of reason many industrial combina
States,” &c. Judge Lanning takes the same view tions, beneficial in their operations, will be legally
that we have expressed, that the decision in the Oil condemned when proceedings to that end shall bo
and Tobacco cases widens and extends the application instituted against them. This was our belief before,
of the Sherman law, instead of restricting it. He says and Judge Lanning’s observations in the present
the decisions referred to “ make it quite clear that the powder case confirm us in this opinion, for ho says:
language of the Anti-Trust Act is not to receive that “ It matters not whether the combination be in the
literal construction which will impair, rather than en form of a trade association or a corporation, if it
hance, freedom of inter-State commerce.” He em arbitrarily uses its power to force weaker competitors
phasizes the distinction between “ restraint of com out of business or to coerce them into a sale to, or
petition” and “ restraint of trade,” adding: “ As we union with, the combination, it puts a restraint upon
read those decisions, restraint of inter-State trade and inter-State commerce and monopolizes or attempts to
restraint of competition in inter-State trade are not monopolize a part of that commerce in a sense that
interchangeable expressions. There may be under violates the Anti-Trust Act.”
the Anti-Trust Act restraint of competition that does
Prompted by the Supreme Court’s own cautious
not amount to restraint of inter-State trade, just as policy with regard to the Tobacco Company and tho
before the passage of the Act there might have been Standard Oil Company, care is taken not to do un
restraint of competition that did not amount to a necessary injury to the Powder defendants in the
common law restraint of trade.”
attempt to give effect to the law. Judge Lanning
The distinction made between “ restraint of trade” says that “ to stop the business of the combination
and “ restraint of competition” is important, and immediately, might be attended with very disastrous
would seem to be in consonance with the decisions in consequences.” He then adds: “ The defendants, or
the Tobacco and Oil cases, though Chief Justice White, some of them, for example, furnish military and
who wrote the opinions in both cases, nowhere uses ordnance powders to the United States Government.
these precise terms or expressions. Some such dis We understand, also, that they furnish explosives used
tinction was clearly necessary in view of the observa
in the construction of the Panama Canal. Their
tion in the Tobacco case by Judge Lacombe in the
ability to continue so to do should not be destroyed
lower Court to the effect that under the Anti-Trust
before the expiration of a reasonable time for adjusting
law it would be illegal for an express driver on one side
their business to the changed conditions.” It is for
of a State boundary to join in partnership with an
express driver on the other side of the boundary, this reason that October 16 has been fixed as a date
because the necessary effect of such action would be to for considering plans intended to prohibit further
prevent the competition that might otherwise have violations of the law and yet allow the business in its
existed between the two individuals. We remarked at essential features to be continued. Obviously, tho
the time that this was the reductio ad absurdum. The task in all these cases is not going to be an easy one,
Supreme Court, as we have previously shown, refused and the effort of the lower Court to give effect to tho
to sanction any such conclusion, which would inevita ruling of the Supreme Court will be watched with no
bly follow from a literal adherence to the language little concern.
June 24 1911.]
THE CHRONICLE
PROPOSED P E N A L IZ A T IO N OF UNOCCUPIED
LAND.
Somewhere in the legislative mill in Albany is a
proposit on for a change in real estate taxation so that
at the end of five years the rate of tax upon land alone
shall be twice that on buildings or improvements. No
man has foresight enough to infallibly determine
exactly the results of such a tax scheme; yet some
considerations relating to equities and probable effects
can be suggested in advance.
Whether the difference in rate were produced by
progressively raising the tax on land or by lowering
that on buildings, or by both, it plainly could be of no
concern (at least no immediate concern) to either
owner or user how the proportion of tax is adjusted
between land and buildings on it; so long as a fixed
amount is exacted of both, they stand as one piece
of property. The effect upon unoccupied land,
especially in the suburbs and the outlying portions
of the city, is most problematical,and would be most
severe. These outlying portions are built up with
detached frame houses, having usually a driveway and
a stable or garage,or room for one, and always with
extra land for a lawn or a more unpretentious yard.
The owners are persons of moderate means, who went
out thither not only because they could get a dwelling
and land to place it on for less money than within the
dense city, but because they could include the vacant
land for their own personal quiet and for the children’s
sake. To obtain this, they have submitted to some
inconveniences of transportation and otherwise, be
sides assessments for improvements and a rising scale
of tax, which does not always seem quite just, and has
been a sensibly-felt burden added to the maintenance
of growing children. This has been a movement in
good faith on part of these persons, entered into in a
sort of tacit understanding that conditions would
remain about as stable as they can ever be around a
great city. Without enlarging upon the point, it is fair
to raise the question whether these house-owners have
not acquired a vested right in the moral sense; whether
it is just to visit upon them a change whose tendency
would be to deprive them of this land.not unused,
though not built over, for which they planned at first
and have since been paying.
Another class of persons also have right to con
sideration; those who have been buying lots in the last
few years. Some have bought for their own occupancy
and are living on their purchase, accompanied with
the thought of the mortgage they must bend their
backs to lift off; some have bought for investment,
and in every instance an inducement held out to buyers
has been the prospect of rise in values. Purchase for
either motive is clearly legitimate, and in every in
stance the city and State have tacitly come into the
transaction as partner, by assent to the understanding
that in general things shall be kept about as they are.
Is it not true that all these people have acquired rights
upon moral, social and economic grounds?
It should be noted, also, that all owners of city
houses with more than the usual backyard about them
are inevitably subject to a gradual pressure by in
creased values. In the “ Heights” section of Brooklyn
there used to be a little private park consisting of sev
eral uncovered lots, close to the overlook across the
East River; this tiny park has yielded to pressure, and
1671
is partly covered. Clinton and Washington avenues,
formerly notable for their distinctive beauty, have
gradually become cut up, and the “ villa” style has
shifted to such streets as St. Mark’s Avenue, where
already the load on the land makes its beauty too costly
for any but wealthy men. Whole blocks of what was
once the business part of Fulton Street in Brooklyn
have been destroyed, as to increment and values, by
the shifting incident to bridges. However severe upon
individuals, these changes are unavoidable; the public
cannot warrant protection to the citizens from them,
but is there not reason, in justice as well as in expedi
ency, against changes which are not necessary?
The intention plainly is to promote closer settlement
by making bare land too costly to hold. But such a
penalizing is not entirely sure to make for the intended
result; it might hit the home-builder and small accum
ulator harder than the rich man or the lahd speculator,
though aimed at the latter. The natural effect upon
the purchase of outlying lots, either for immediate use
or for holding, would be deterrent. Is it wise to thrust
such a factor into the problems of value and of distri
bution of population? This whole problem of city
values was never more difficult to foresee, even to the
best judges, and the subway situation intensifies the
difficulty.
We are proposing subways to get people outward;
this proposition would menace one of the prime induce
ments which have been strong enough to move them
outward, even with the old methods of transportation.
Concede the intrinsic excellence of the desire to unpack
congested sections by a movement outward; whatever
tends to deprive the home of its bit of land, tends to
transfer congestion without relieving it. And if the
question be asked, how shall the crowded city dweller
get his share of space in turn? the answer must lie in
the expansion of the area available to those who work
within the packed city; this depends upon transporta
tion, and modern methods of carrying are expected
to solve it.
After all else is said, it is clear that this proposition is
not one of revenue—of present revenue, at least. It
grows out of the doctrine that “ unearned increment” is
a public robbery. It is not a step proposed towards a
more complete and rational solution of the problem
of taxation. It is one more suggested application
of the tax power to promote some social changes. We
may well hesitate before straying off into such experi
ments just now.
THE ECONOMIC RESULTS OF
COM M ERCIAL ED UCA TION.
“ Happy is the man who knows the causes of things.”
Felix qui rerum potuit cognoscere causas is an old Latin
maxim that has lost none of its point or its pith. We
have frequently called attention to the schools for ad
vanced commercial education which have been opened
in Europe, of which those in France were among the
earliest. That they are not mere incidental facts,
but are the expression of a widespread intelligent pur
pose, amounting to a permanent movement, in the
minds of the leading European business communities,
recognized and fostered by the various governments,
has for some time been apparent. And, what is more
important, that they have exerted a wide influence in
stimulating all forms of industrial and agricultural,
1672
TI1E CHRONICLE
no less than strictly commercial, education begins
now to be evident.
Though Germany had thirty years’ start, it is about
the same length of time since the first advanced schools
o f commerce were opened in Paris. The “ Commercial
Institute ’ is devoted largely to the preparation of
young men for foreign trade, and the “ School of
Higher Commercial Studies,” in its splendid buildings
on the Boulevard Malesherbes, chiefly to the training
of the sons of merchants. The Fran co-Prussian War
had not long passed and France was still in the throes
of establishing the republic; while the enormous cost
of the war, coupled with the 5,000 million francs paid
as indemnity to Germany, was supposed to constitute
a financial load under which the country would longstagger, if ever she should recover.
In the commercial and industrial condition of France
to-day we can estimate the value and efficiency of the
forces which have been at work. Much is to be said
about the stimulating power of republican institutions,
and Americans may well be the first to recognize that
in view of the shortness of the time it has existed,
the French Republic is the most remarkable the world
has ever seen, but the rapid development of France in
the last few years and her present great prosperity
must be accounted for only as the result of very definite,
thoroughgoing and permanent causes.
Fortunately facts are abundantly in evidence.
Prof. Bracq’s recent work, “ France Under the Re
public,” presents many which serve our purpose.
To begin at the remotest point, coincident with the
opening of the commercial schools (which, by the way,
quickly spread from Paris to the other chief cities)
and inspired by the same impulse, schools of agricul
ture, especially in its higher and scientific aspectsf
were opened. As a result, though the population of
France has for some time shown little or no advance,
an ever larger class turns to agriculture, so that the
number of small land owners increases. Meanwhile
agricultural production has increased enormously.
Elaborate statistics might be given in support of this
statement, but we have space only for a few typical
illustrations. Since 1873 beet-root sugar has devel
oped from 349,360 tons to 948,671. The vineyards
in 1871, extending over 6,397,000 hectares, occupied
6,516,000 in 1905, and the yield went up from 83,000,
000 hectolitres to 118,000,000, with the practical
stamping out of the phylloxera. Improved agricul
tural machinery is coming in on an unprecedented
scale with the agricultural chemist and proper fertilzers. Credit for all this is largely given to the new
education. Every one of the eighty-six departments
has an experimental agricultural station. There are
innumerable public laboratories of many kinds, and
schools for viticulture, irrigation, draining, cheese
making, vegetal pathology, &c., with advanced schools
culminating in the National Agronomic Institute of
Paris; while the Government has established a special
decoration known as the merite agricole.
Industrially the advance is even more marked.
Scientific methods have been introduced which are
making available 9,000,000 horse power of water falls
in the mountains that was unused. From 1870 to
1905 the production of coal increased from 13,000,000
tons to 38,000,000; the production of pig iron, 217%;
of iron and steel, 200%, and the extraction of iron ore,
399%. In 15 years, from 1891 to 1906, the number
VOL. LXXXXII.
of steam engines rose from 26,000 with 316,000 horse
power to 79,000 with 2,232,000 horse power. The
horse power used in textile industry increased in
12 years, 1890-1902, from 173,000 to 434,529. The
high character of French industrial production is
known to all.
The connection between all this and the schools
is close. The National Conservatory of Arts and
Crafts, an experimental laboratory and a museum,
has been made a great school of technology, with a
budget of nearly a million and a half of francs.
The
Central School of Arts & Manufactures, preparing
engineers for all forms of industry, as well as for public
works, expends three-quarters of a million annually.
Four national schools of arts and crafts followed, in
Aix, Angers, Chalons and Lille, expending 1,838,290
francs; and a fifth school of the same kind has recently
been opened in Paris.
The purpose of these institutions is to train over
seers and employers, improving their methods and
enlarging the scope of their industries. Besides these,
there are very many industrial and technical schools
of all kinds for workmen. There are also 26 special
Schools of Commerce and Industry,” for teaching
the best methods of marketing the industrial products.
But when we come to the direct development of
French commerce and general business, the most
significant facts appear. Only in comparatively re
cent times has France paid any attention to her colo
nies. The capital invested in French colonies under
the Empire was insignificant—it is now estimated at
4.000. 000.000 francs; and the colonial trade, which in
1870 was so unimportant as not to be noted in “ The
Statesman’s Year Book ,” is now 1,400,000,000 francs
annually. A recent observer, Mr. J. F. J. Archibald,
has said: “ Not until I visited the French colonies, of
Northern Africa did I find what I considered a most
perfect form of colonization, and I now firmly believe
that the French people and the French Government
are to-day the most practical colonizers of the civilized
world.” The increase of trade in France herself is no
less marked. The general tonnage of French ports
has quadrupled since 1866, and in 16 years the ton
nage on her canal and inland waterways has increased
42%. The commerce of the country has grown more
than 5,000,000,000 francs annually since 1869 (though
Alsace and Lorraine were included at that time); from
1875 to 1907 it rose from 7,500,000,000 to 11,819,000,
000. The business of the Bank of France, which in
1871 was 68,814,000,000, in 1908 rose to 236,975,000,
000. During the last days of the Empire, French in
vestments abroad were estimated at 12,000,000,000
francs; they are put at 37,000,000,000 now. The
wealth of the country in securities of all kinds was
25.000. 000.000 francs in 1880; it rose in 1906 to 135,
000,000,000.
It is true that France does not stand alone among
the nations in her development. Progress has been
general the world over. But in the case of other
leading countries it has followed in no small measure
from a growth of population. This has operated on
the one hand to increase productive capacity, and on
the other hand to add to consumptive wants, thereby
creating a field for the enlarged production. In these
circumstances the growth which stands to the credit
of France would not excite comment except that the
French people have not had the advantage of a large
J u n e 2 4 1 9 1 1 .3
THE CHRONICLE
1673
Board President’ s annual address announced an
underwriting profit of 4.89 per cent on premiums in
1910, but for the last decade- a loss of about 23 l/i
millions, or 1.01 per cent on premiums. This means
a net loss on underwriting operations solely, and the
manner of ascertaining it has been explained by us in
the past.
The encouraging side is that at last there is a
general and steadily increasing realization of the
seriousness of the subject and of the fundamental
fact that fire waste, not the underwriters, are the
cause of the confessedly heavy burden of insurance
rates. The rates must measurably conform to the
hazard, or the insurance fails with the companies; to
attempt coercing the companies by statute is like
pounding the thermometer and barometer because the
weather is not satisfactory.
This seems too ele
mentary to need statement; and yet, all the country
over, legislatures have been for many years passing
laws, in obedience to public clamor, to prevent com
panies from combining (as it is mistakenly imagined
they do) for the purpose, and with the result, of keeping
rates high. Very slowly, yet without any exposure
to a backward slip in the process, we arc understanding
the case better and beginning to deal with it more
rationally. Insurance commissioners in several States
are issuing monthly bulletins which discourse upon
waste and prevention. Fire marshall laws are becom
ing general, and the powers of those officers are made
more stringent; in Ohio, lor instance, and also in
Illinois, recent amplifications of their powers promise
good results, and in this rather tardy State a bill for
the purpose has lately become law.
Active educational work is also going on. Of a
certain address on the subject 11,000 copies have been
distributed. A model fire marshall law has been
drafted and 13 States gave it consideration in their
last sessions. The National Fire Prevention Asso
ciation, which held its 15th annual convention lately,
is more zealously at work than ever. It aims high,
declaring that “ we prescribe real buildings of fire
proof construction, not shells with unprotected
THE N E E D OF CHECKING FIRE W ASTE.
The fire loss through the country in the month of vertical and horizontal openings; real fire windows,
May, according to the figures compiled by the “ Journal not merely things of glass and metal; real fire doors,”
and so on. One of the most encouraging signs is
of Commerce” , was a little less than in January and
that
the Rochester Chamber of Commerce has set an
10 millions less than in March, but considerably more
example
to commercial bodies elsewhere by issuing,
than in any of the first five months of the year since
under
its
own official imprint, a booklet, arranged
1908, except in January of 1909. The total for the
by
topics,
upon fire waste and fire prevention. Also
five months ending with May is about 109 millions,
the
difficult
subject of a better building code is in
against 86 millions in 1910 and 89% millions in 1909.
course
of
threshing
out, in this city and elsewhere.
The largest fire in the past month was at Coney Island,
A
change
in
the
attitude of the Associated Credit
destroying considerable property, on which there
Men of the country towards this subject is also en
was a light insurance.
Comparisons of one month against another and couraging. That organization has for several years
against the same month in other years are less sig maintained a committee upon insurance and has
nificant than the broader comparisons which show that discussed the bearing of insurance upon credit, at
the waste is steadily increasing. The statistics offered its annual conventions. But its committee formerly
at the last annual meeting of the National Board of seemed chiefly impressed with the importance of
Fire Underwriters, a few weeks ago, showed that inducing mercantile debtors to carry a sufficient
the property loss in 1910 was 25 millions beyond quantity of insurance; gradually these men are coming
1909, and the per capita loss was 82 33, against to realize that quality is of at least equal importance
with quantity, and now the Association has openly
82 14 in 1909. By figures not fully complete, as they
come from a varying number of cities reporting, it ranged itself with fire prevention. At their recent
appears that the per capita loss in Europe in 1910 annual convention, the committee report declared
ranged from 92 cents in France down to 19 cents in that, no matter from what angle insurance problems
Germany. The financial result to the insurance are approached the conclusion is inevitable that "of
companies continues somewhat unfavorable, for the prime importance is the question of the country’s
growth of population, numbers in that country hav
ing remained practically stationary. That such
marked development should have occurred notwith
standing the absence of that stimulating agency fur
nishes the strongest evidence of what scientific meth
ods and a sound educational system can do for a coun
try.
The important fact to be noted is that the progress
of France, great in itself, whatever it may be in com
parison with others, is not due to accidental or transi
tory causes, but among other things, directly and per
haps chiefly to the development of schools of com
mercial and other special training intended primarily
for her leaders of business and of industry.
One of the lessons the French took to heart after the
war with Germany was that it “ was the school-teacher
who won at Sedan” ; and this in a truer and deeper
sense than Wellington’s saying that Waterloo was won
by Eton. To-day in turn France is teaching that
definite, well-directed education is as necessary in
the world of business as it is in the world of thought.
And traditional education will not do; it must be the
education that fits a man for the work he has to do in
life when that work is viewed in its largest relations.
It must be the education of the scholar, that is, the
man who knows how to learn and has been taught how
much there is to be learned even in the particular line
in which he is engaged.
Our great business men, who are proud of America’s
position in the commercial world, which they have
done so much to win, can do no better than to see that
their sons and the young men who are to be their suc
cessors are provided with schools which will open to
them the very best form of education, that will fit
them for their tasks, or that the institutions of higher
learning which are now seeking their support will recog
nize the new conditions and adjust their curriculums
to meet them. For the joy of life as well as for its
fair success, a traditional education must give place
to something more modern.
1674
THE CHRONICLE
excessive fire waste, compared with which related
problems are only of ipciclental importance.'’
The report reaffirmed the close relationship with
the National Fire Prevention Association, from which
great benefit has already come. It cited the efforts
already made to show local credit associations that,
for the sake of local mercantile advantage, they
ought to welcome and act upon, rather than resent
or overslough, the criticisms of underwriting en
gineers upon the physical conditions of their respective
cities as to fire risk. The report makes the suggestive
declaration that “ there is no association of credit
men in the land but can get action from city authorities
on any reasonable demand for better protection.”
The position of the committee was sustained at all
points by the convention.
Replacement of existing buildings by those of
slower-burning material and design is necessarily a
gradual process, but improvement of existing buildings
need not wait for the process of replacement. At a
recent meeting, Mr. Walter L. Fisher, the new Secre
tary of the Interior, forcibly remarked that if a tax
of $2 51 per annum upon every man, woman and
child in the country were proposed, there would
probably be a protest, even though the proceeds were
for some recognized good purpose; yet this tax through
waste goes on and is little realized, because assessed
indirectly. The movement for a new line of “ con
servation” by which every person may gain is pro
ceeding, and its milestones are so definite that they
are at last clear. They form one matter for encourage
ment among our many troubles.
THE F A L L RIVER CELEBRATION .
fVor,.
lx x x x ii.
quite general closing of the mills, most of those not
entirely idle having been on short time.
Ih e mill, the starting of which one hundred years
ago by Col. Joseph Durfee, is the occasion for the
present celebration, was located, it is said, on land
now occupied by the Laurel Lake Mills, and moreover,
the original building is supposed to be still standing.
The equipment consisted of about 500 spindles , and
no looms, the yarn being woven into cloth on hand
looms by the farmers’ wives. Two years later two
other mills were built, the Troy Cotton & Woolen
Manufacturing Co. and the Fall River Manufacturing
Co., between them equipped with about 3,500 spindles.
While development of the cotton manufacturing indus
try of Fall River may be said to have made more or less
progress prior to the Civil War, it is only since that
time, and concurrent with the much more extensive
planting of the staple, that expansion has been rapid.
In 1805 the number of spindles operated there was
205,328; within five years the total had doubled, and
in 1875 was 1,269,048. Twenty years later (in 1895)
the aggregate had risen to 2,833,691, notwithstanding
the large development of the industry elsewhere, and
especially at the South. During the following six
years only a comparatively moderate expansion
occurred, the spindles numbering 3,054,803 in 1901.
The last decade, however, has witnessed unusual
progress, as at the present time there are in Fall River
45 corporations, owning and operating 111 cotton
mills, the equipment of which consists of 3,936,944
spindles and 93,904 looms, the whole representing
an investment of $32,960,000. That amount, though,
does not cover by many millions the actual value of the
plants. Consumption of cotton, which in 1890 reached
about 250,000 bales, was reported at 446,100 bales in
1910, a gain of nearly 80% in a period of twenty years.
Coincidently with the rapid growth of cotton manufac
turing, the population of Fall River has made large in
creases, for while from 1810 to 1865 the advance was
only from 1,296 to 17,525, since the latter date there
has been an augmentation to over 120,000.
Fall River, Mass., brings to a close to-night an
extensive and elaborate celebration of the one hun
dredth anniversary of the erection of the first cotton
mill at that point, now and for some years past the
premier cotton-manufacturing centre of the country.
Many of the features of the celebration were of a
carnival nature, the week opening with the coronation
of a queen and followed by a land parade and closing
with a water carnival and an aviation exhibition. ITEMS ABOUT B A N K S, B AN KERS AN D TRUST CO'S.
— The public sales of bank stocks this week aggregate
The Federal Government has been represented by a
fleet of war vessels, and yesterday President Taft 1,396 shares, of which 1,371 shares were sold at the Stock
Exchange and 25 shares at auction. The transactions in
honored the occasion with his presence.
trust company stocks, all auction sales, reach a total of 125
Not the least important feature of this cotton cen shares. Rumors that the National City Bank would declare
tennial has been the manufacturers’ exposition at the a special 4 0 % dividend caused active dealing in the bank's
State Armory and at the Durfee Textile School. The stock. The price of the stock advanced from 420 at the
opening to 460 and closed at 4574^, the sales amounting to
exhibits there have included not only the old styles
739 shares. National Bank of Commerce stock was also
of textile-manufacturing machinery placed side by side active, the transactions aggregating 546 shares, while the
with the ponderous and perfected machines of the price rose from 2 1 5 ^ to 221 ex-dividend and closed at 220.
HANKS— New York.
Low . High. Close. Last previous sale.
present time, but a very complete showing of the many Shares.
10 Chemical National Bank— 450
450 450
June 1011— 431 yt
descriptions of goods the mills produce. Furthermore, 730 City Bank. N a tio n a l........... 420 460 457H June 1011— 423
546 Commerce, N at. Bank o f . . . 2 1 5 ^ * 2 2 1 *220
June 1011— 216
in the Textile School actual manufacturing in all its •25 First National B ank------------ 000 H 000 ^ 000 j unc 1011— 000
11 Fourth National B an k-------- 205
206 206
June 1011— 200
various processes has been shown.
58 Mech. & Metals N at. B an k. 200
272 272
May 1011_ 270
7
Park
Bank,
National---------373
373
373
June
1011— 376
The exposition was not confined entirely to American
T R U S T COM PA N IES— New York.
140 140
N ov. 1010— 144
goods nor to textile fabrics. On the contrary, there •100 Broadway Trust C o------------- 140
10 Commercial Trust C o---------- 106
106 106
June 1008— 100
were exhibits of fabrics from leading centres in Eng
T R U S T COM PAN Y— Brooklyn.
15 L ong Island Loan & Trust Co 310 H 310
3 1 0 ^ D ec. 1000— 300 •
land, France, Germany, Switzerland, Belgium, Scot
•
Sold
at
auction,
x
E
x-dlvIdcnd.
land and Ireland, and the American hat and other
The Underwood Bill, reducing the tariff on raw wool,
trades were represented. In connection with the
was passed by the House of Representatives on the 20th
celebration, the Fall River Trade and Industry Associa
inst. by a vote of 221 to 100. The bill as passed is in sub
tion issued a handsome and profusely illustrated vol stantially the form approved by the Democratic caucus of
ume of nearly 200 pages, outlining the development of the House on the 1st inst. The votes in its favor were made
the city and its cotton-manufacturing industry. up of 194 Democrats, 26 Republicans and 1 Socialist, while
those registered against it consisted of 99 Republicans and
During the continuance of the event there has been a 1 Democrat. An impression had gained ground that no
JUNE 24 1911.]
THE CHRONICLE
action upon the measure was likely by the Senate at the
present Special Session, but the Republican insurgents in
that body have combined with the Democrats to force it
up for consideration. These members on Wednesday
succeeded in passing a motion offered by Senator Gore,
instructing the Finance Committee of the Senate to report
the Wool Bill not later than July 10. The motion carried
by a vote of 39 to 18, the votes in its favor being cast by
23 Democrats and 16 Republicans— all but two of the latter
being “ insurgents.” The Committee decided on Thursday
to present the bill to the Senate at once, and accordingly
the Wool Bill, together with the so-called Farmers’ Free
List Bill, which passed the House on May 8, was reported,
to the Senate on that day. An adverse report in each
instance was made by the Committee. The Wool Bill
places a duty ° f 2 0 %
valorem on raw wo 1 imports, as
against an average duly of a little over 4 4 % ad valorem
under the present law. On partly manufactured wool and
on products manufactured in whole or in part from wool the
average duly under the proposed law, it is stated, would
be about 4 2 .5 % ad valorem, as compared with the present
ad valorem duly of more than 9 0 % . It has been estimated
by the W ays and Means Committee that the bill would
reduce the revenue under the woolen schedules of the tariff
by a little more than $1,000,000.
— In an opinion bearing on the Federal Corporation Tax
Law, Commissioner of Internal Revenue Royal E . Cabell
has decided that increased valuation of assets entered on the
books of corporations are to be included in gross income in
the returns of annual net income. In his finding in the
matter he says:
at the forthcoming district meetings of the national bank
examiners. He has invited the Bank Superintendents of
the various States to name one examiner in each State to
prepare a paper to be read at the meetings. It is announced
from Chicago that acceptances have been received from the
Superintendents of all the States in that district, embracing
Michigan, northern Indiana, northern Illinois, Iowa, Wiscon
sin, Minnesota, North Dakota, South Dakota and Nebraska,
and the meeting will also be attended by the Clearing-House
examiners of Chicago, Milwaukee, Minneapolis and St. Paul.
The State departments elsewhere, it is understood, have
likewise indicated their intention to be represented at the
gatherings of the other districts. In the case of the New
York district, a paper will be read by State Bank Examiner
Joseph A . Broderick.
TREASURY D E P A R T M E N T .
Office of Commissioner of Internal Revenue.
Washington, I). C ., June 0 1911.
Gentlemen: Replying to your letter of the 6th Inst., relative to an Item
o f $32,246 01, which was not Included In your return o f annual net Income
for the year 1910, the same representing an appreciation In the value of
securities owned by you but not disposed of, you are advised that If this
appreciation actually occurred during the year 1910, and was taken account
of by you In a book entry. It should be accounted for as gross incom e. The
appreciation having actually occurred and being so entered and carried on
your books as to show that the value o f your assets was greater by this
amount at the close of the year, than at the beginning, this Increase must
be accounted for as Income.
In so far as they conform to the requirements and limitations of the law,
book entries are recognized both by corporations and this office as the proper
data to be used in preparing tho returns required by Section 38, A ct of
A ug 5 1909. If these book entries show an Increased value of the assets
at the close of the year, It Is but fair to conclude that this Increase, from
whatever source or cause, Is Incomo and It must be so treated In the picparatlon of the required return.
In cases wherein no entry of tho appreciation of securities Is made on the
books, and there Is no record evidence of the Increased value of such assets,
this office has not required, and docs not require, an accounting for the
appreciation as Income until the securities shall have been disposed of, at
which time It will be permissible to prorate the gain according to the num
ber of years the securities were held by the corporation prior to their sale
and account as income for the amount properly apportioned to the year
in which the securities were disposed of, plus a like amount so apportioned
for each preceding year such securities were held subsequent to Jan. 1 1909,
the beginning of the period when tho Corporation T a x Law became ef
fective.
. . .
T.
Securities which depredate In value m ay be treated in the same way. If
the securities have actually depreciated in value and there is record evidence
on the books of the corporation of such depreciation, the am ount thereof
m ay be deducted from the gross Income. If no such entries are made,
and the securities arc sold at a loss, the loss m ay be prorated and the
am ount opportioned to the year in which they were sold and to the pre
ceding years subsequent to Jan. 1 1909 may be deducted.
In any event, this office will insist that in so far as they are consistent
with the limitations of the law, book entries constitute the data for the
preparation of the returns for the purpose of special excise tax.
It Is therefore held that the Item of $32,246 01 above referred to should
be Included In your return and to that extent Increase your net Income and
tax liability for the year 1910.
R espectfully,
R O Y A L E . C A B E LL, Commissioner.
Baltimore, Md.
Commissioner Cabell has also made a promulgation to the
effect that an extension of time beyond the thirty days from
March 1 which collectors may allow for the filing of returns,
will not be granted where the application for such extension
is not made on or before March 31.
— Postmaster-General Hitchcock named 100 additional
postal savings depositories this week, increasing the number
to 800. A statement with regard to the showing on May 31
of the 48 original offices opened in January records deposits
of $328,231, against $268,442 on April 30. The deposits
in the 45 offices opened on May 1 amounted on May 31 to
$66,700, making a total for the 93 offices of $394,931. No
figures for the additional offices which have been named
are as yet available; out of the whole 800 a large number was
opened subsequent to May 1. Many, indeed, have not got
started yet and will not begin operations until July.
— Comptroller of the Currency Lawrence O. Murray has
sought the co-operation of the State Banking Departments
1675
— Charles S. Millington, who was appointed last month
as Assistant Treasurer of the United States at New York,
to succeed the late George S. Terry, assumed charge at the
Sub-Treasury on the 15th inst. With his arrival the task of
counting the cash, amounting in the neighborhood to
$145,000,000, was begun, eleven clerks from Washington
being delegated to assist in the work, which it is expected
will extend over a month.
— It is announced that the Mint at New Orleans after
July 1 will be discontinued. It is to be conducted in the
future merely as an assay office and a storage place for
silver dollars.
— The plan for the creation of a central checking office in
New York City, to serve as a clearing house for all cotton
bills of lading against which drafts are drawn on foreign
bankers, was the subject of a conference in this city on
Monday and Tuesday of this week. The meeting was held
at the instance of the sub-committee of the Bill of Lading Com
mittee of the American Bankers’ Association, and grew out of
the opposition to the suggested arrangement which devel
oped among banking interests in the cotton States.
Those
present at the conference were in the main bankers from
these Southern and Southwestern States, and evidence that
their views have been given recognition is disclosed in the
statement issued at the close of this week’s deliberations, an
nouncing that it had been “ concluded that the method car
ried with it certain vague responsibilities which are likely
to lead to litigation and contention in the future, and that
these elements of doubt must be cleared up by the Liverpool
committee to the entire satisfaction of the American com
mittee before it can be considered.” It was agreed, how
ever, that greater safeguards should be required of transpor
tation companies in the issuance of negotiable bills of lading
for merchandise of all kinds, and approval was expressed of
the methods for safeguarding their issuance proposed in the
agreement of the railroads. The committee further indi
cated its readiness to assist and co-operate in the passage and
enforcement of Federal and State laws and railway com
mission regulations which would lead to greater safety in the
handling of negotiable documents.
The plan for the establishment of a central checking office
was suggested by the Liverpool Bill of Lading Conference
Committee, and a resolution approving the proposal was
adopted at a meeting held at the Chamber of Commerce in
this city on April 12, attended by representatives of the
Southeastern and Southwestern cotton-carrying railroads,
the Liverpool Bill of Lading Cotton Conference and the
sub-committee of the Bill of Lading Committee ;of the
American Bankers’ Association. At the convention of the
Louisiana Bankers’ Association in May a protest was entered
against the action of the sub-committee of the American
Bankers’ Association in approving the formation of a central
office in New York, and it was urged that a committee from
bankers in the larger cotton cities of the South be heard
before carrying the movement into effect. Sol. Wexler,
Vice-President of the Whitney-Central National Bank of New
Orleans, one of those present at this week’s conference, has
taken occasion to explain the attitude of the Southern
bankers, as follows:
We are opposed to the central-office or clearing-house plan on several
grounds. In the first place, it Axes upon the Southern bankers certain
vague responsibilities which we do not think we should be com pelled to ac
cept. In the next place. It Is not adequate: It does not solve the so-called
problem of fraudulent bills of lading.
This question has been greatly exaggerated and, In m y opinion, the
Southern Cotton growers have been placed In a wrong light by the prom i
nence given the K nlght-Yancey and Steele-Mlller failures. In these two
cases It was not the fault of the Southern bankers that so many losses were
recorded throughout England and this country as a result of the disclosures
In these failures, for had the credit o f these two firms been Investigated
the South It would have been found that not one cent had been advanced
to these firms b y the bankers in the South.
In
1676
THE CHRONICLE
W e are co-operating with the railroads to bring a bou t better m ethods in
the Issuance o f cotton bills o f lading, and already gratifying results have
been accom plished. W e are still working with the representatives o f the
Southern roads to perfect even the present systems em ployed, and we hope
to get Congress to pass certain legislation, such as the Stevens bill, whereby
the responsibility for.fraudulent bills m ay be placed where it belongs This
Is tho only w ay In which the desired results can be brought a bou t. The
plan to form a clearing house for cotton bills and not for other bills Is ab
surd on Its face.
Journal” for June the American Bankers' Asso
ciation reports the enactment of the uniform bills of lading
Act in the following States: Iowa, Illinois, Pennsylvania,
Ohio, Michigan and New Y o rk . Last year, it is noted, the
Act was passed by the legislatures of Maryland and Massa
chusetts, thus making eight States in which it has become
a law.
— Under a bill signed by Gov. Dix on the 20th inst. it is
provided that upon the failure to pay safe deposit rental
within thirty days after notice, the contents shall be inven
toried and sealed by a notary public and transferred to a
general box, to remain for two years unless removed earlier
by the owner. A t the expiration of the two-year period
the safe deposit company is given the right to dispose of
the same.
— A plan to divide New York State into examination dis
tricts is being considered by State Superintendent of Banks
George C. Van Tuyl Jr. Mr. Van Tuyl is of the opinion that
such an arrangement would serve to increase the value and
efficiency of the State bank examinations. The plan which
is proposed is to divide the State into four examination dis
tricts tho Western District, with headquarters at Buffalo,
to include banking institutions of western New York; a
Central District, with headquarters at Syracuse; an Eastern
District at Albany, and a Southern District, in charge of the
Chief Examiner, with headquarters in the office of the State
Banking Department at New York City. Each of the up
state districts is to be in charge of an examiner of experi
ence and ability, who will be expected to cover the exam
ination work of the banks in his immediate vicinity through
examiners to be assigned by the Banking Department. A
general supervision of each of the districts will be maintained
by the Chief Examiner. It is the purpose to shift the exam
iners from place to place, the only permanent representatives
being the examiners in charge of the districts, although, it
is stated, none of these will be located in any district per
manently if the conditions seem to warrant an occasional
change.
[VOL. L X X X X I I .
Arm n ot a custom er of the bank their note payable in St. Paul, at a given
rate, and m ade no charge for exchange at the time the note was forwarded
for co llection ?”
R u l in g o f th e C l e a r in g -H o u s e C o m m itte e :
"T h e Clearing-House rules
contem plate the charging of collection rates on all out-of-tow n items from
whatever source derived. This ruling Is made com prehensive In order to
meet Ingenious cases for evasion. In the case of bought paper the broker
should allow the charge as a part ot the purchase. If exceptions were al
lowed, the flood o f cases would practically nullify the rules.”
B y order,
W IL L IA M S H E R E R ,
W IL L IA M A . N ASH .
M a n ager.
C h a ir m a n C le a r in g -H o u s e C o m m itte e .
_ — The payment of interest at the rate of 3 y2% is con
tinued in the July declarations of the following banks,
which heretofore reduced their dividends to that figure:
Bank for Savings, the Bowery Savings Bank, the Union
Square Savings Bank and the Union Dime Savings Bank.
— State Superintendent George C. Van Tuyl Jr.
on
Thursday announced it as his intention to proceed with the
assessment of the stockholders of the failed Union Bank of
Brooklyn Borough as rapidly as possible. Assemblyman
Louis Goldstein, who introduced a resolution calling for a
Legislative investigation into the affairs of the institution,
has been appointed by Govenor Dix as Special Counsel to the
State Banking Department in the probe which it is proposed
to make into the bank. The inquiry is to be conducted, it is
understood under the authority of Governor Dix, and as a
consequence no action has been taken by the Legislature
on Mr. Goldstein’s resolution. Assistant District Attorney
Mitchell May has also been named by District Attorney
Clarke to co-operate with Mr. Goldstein in his investigation.
Nothing has been paid to the depositors of the institution
since its failure in April 1910. According to a statement
printed in the “ Tribune” this week and attributed to Edward
L. Dodge, the Deputy in charge of the liquidation of the
bank, it owed at the time of its suspension between$2,000,000
and $3,000,000 to other banks and trust companies from
which it had borrowed. Of these debts, he stated, about
$2 ,000,000 have been paid, leaving a little less than $400,000
still to be paid.
— The Alter bill, requiring all private bankers in Pennsyl
vania to secure a license from a board consisting of the State
Treasurer, Secretary of the Commonwealth and the Bank
ing Commissioner, was signed by Gov. Timer on the 19th inst.
— An amendment to the rules of the Chicago Board of
Trade, which is intended to prevent “ corners” and manipu
lation, was adopted by the members on the 16th inst. by a
vote of 348 to 191. Under the new regulations it is pro
A resolution calling upon the State Superintendent of vided that in the event of defaults on future contracts a
Banks to investigate the circumstances and conditions under
committee shall be named to determine as nearly as possible
which State banks and trust companies have joined the New the true commercial value of the commodity on the day of
York Clearing-House Association was adopted by the Senate
maturity of the contract as the basis upon which settlement
on Thursday. A report in the matter from the Superin
is to be made, and it is stipulated that a penalty of not less
tendent is asked for not later than the 27th inst. The reso
than 5 % and not more than 1 0 % shall be imposed upon the
lution in full, introduced by Senator Grady, is as follows:
defaulter. According to the Chicago “ Tribune,” under the
R e s o l v e d . That the State Superintendent o f Banks be, and hereby is
rules heretofore in force, the average price of any given future
directed to Investigate and report to the Senate not later than June 27 t o i l
We
the circumstances and conditions under which State banks and trust com contract was taken as the settling price for the day.
panies in the City o f New Y ork have joined or placed themselves under the give herewith the text of the new rule:
rules and regulations of the New York Clearing-House Association, and also
whether such rules and regulations affect, and In what particular any of
the laws o f the State o f New Y ork in their application to any o f the Insti
tutions o f the State under the supervision o f the Superintendent o f Banks.
The Metropolitan Trust Co. of this city was admitted
to membership in the New York Clearing-House Association
on Monday. Its checks and drafts will be made payable
through the Clearing House beginning Monday next. Tho
institution is the seventeenth trust company to become a
member of the Association, and its Clearing-House number
is 117.
An amendment to the constitution of the Clearing House
adopted on the 19th inst., stipulates that “ every institution
redeeming through a member of this Association shall keep
a cash and deposit reserve equal to the minimum percentage
required of members of the Association.”
The Clearing House also announces a ruling made by its
Clearing-House committee on the 12th inst., as follows:
In case any property contracted for future delivery Is not delivered at
m aturity of contract, the President shall appoint a com m ittee of three from
the membership at large, to be approved by the board o f directors, which
com m ittee shall determ ine as nearly as possible the true com m ercial value
o f the com m odity In question on the d ay of m aturity of the con tract, and
the price so established shall be the basis upon which settlement Is m ade.
r As liquidated damage, the seller shall pay to the purchaser not less than
3 % , nor m ore than 1 0% , of the value of the com m od ity as established b y
the com m ittee: the percentage, within said limits, to be such as, In the
Judgment of the com m ittee, m ay be Just and equitable.
Settlement shall be m ade without delay, and the damago, as determined
under the provisions o f this section, shall be due and payable Immediately
upon the finding o f the com m ittee.
This section shall not be construed as applying to any parties having the
property both bought and sold, in all o f which cases settlement shall b
m ade on the basis of prices established b y the contracts in such Instances.
•The eighteenth annual convention of the New York
State Bankers’ Association, held at Manhattan Beach on
Thursday and Friday of the current week, attracted one of
the largest gatherings of financiers in its history. Bankers
and their families from all parts of the State and from
R e s o l v e d . That the reserve of State banks and trust com panies shall be
neighboring States, as well as New York City bankers,
“ r ® " , ° n . 1 Iepral nct depos,ts as provided b y the law at the date of the attended in large numbers.
The feature of the first day’s
adoption of th; amendments to tho Clearing-House constitution May 9 1011,
btill another ruling, respecting collection charges was proceedings was an address by Joseph T . Talbert, Vice
adopted on the 12th inst. by the Clearing House. This is President of the National City Bank, New York, whoso
made known in the following communication which the paper, “ Progress in Banking,” made a favorable impression.
On Friday William C. Poillon, President of the Mercantile
Association has issued:
Trust Co., New York, made one of the addresses of the day
N E W Y O R K C L E A R IN G H OU SE, 77-83 C E D A R S T R E E T .
n
„
"
N e w Y o r k , J u n e 12 1911.
on “ The Proposed Participation of Trust Companies in the
n e a r b l r : ~ The following ruling of the Clearing-House Comm ittee on a
National Reserve Association,” and furnished a succinct
question relating to collection charges, adopted this da y, Is forwarded for
you r inform ation:
account of what has been accomplished in that direction.
Q u es tio n :
"W ou ld t h e ------------------------ Bank violate a rule of the Clear
John Harsen Rhoades of Rhoades & Co. discussed tho Aldrich
Ing H ouse respecting charges on ou t-of-tow n Items, If It purchased from a
plan as related to mutual savings banks, as noted further
J u n e 24 1911. •
THE CHRONICLE
1677
below. The ladies enjoyed an automobile trip Thursday its system of organization and in the functions which it is
morning, and in the afternoon “ Bud” Mars made three to perform, is only a development of arrangements with
spectacular flights in his aeroplane, flying with perfect ease which we are familiar in America. The form of organization,
out to sea until the airship was almost invisible, and another he stated, is modeled upon that of our political government,
time circling the hotel and performing many graceful move and the functions with which the Reserve Association are to
ments, showing absolute mastery of the air. Following be endowed, he pointed out, are identical with those which
this the bankers and their guests spent the remainder of the have been exercised from time to time by the associated
afternoon seeing the sights of Luna Park. In the evening banks of our principal cities.
the attendance was further increased by a big representation
— A decision to bar all brokers from further membership in
of New York City bankers who came down to Manhattan the Michigan Bankers’ Association, reached by the Execuitve
Beach for the banquet at the Oriental Hotel. It was the Council on the 13th inst., was modified on the following day,
first time the President of the United States attended a when it was decided that no additional brokers would be
dinner of a State bankers’ association, and when it came his taken in as members. With regard to brokers now holding
turn to speak President Taft received a great greeting. His membership in the organization, the Executive Council is
address was devoted entirely to an exposition of the Aldrich authorized to expel any of them by a two-thirds vote. Retir
currency reform plan, which received his hearty endorse ing President Emory W . Clark of Detroit is quoted as stating
ment. The speech of Martin W . Littleton met with instant that the Executive Council felt compelled to adopt the
applause, and the remarks of Charles F. Moore also pleased course indicated, because of the fact that some of the broker
the diners. Itt. Rev. Mgr. Edward W . McCarthy was another age firms were inclined to take advantage of their connection
speaker. A pleasant feature at the banquet was the pres with the Association to send representatives to the convention
ence of the bankers' wives. Pretty sterling silver smell for business purposes, while some also tried to promote their
ing-salts bottles were given as souvenirs to the ladies interests by using the letter heads of the Association. The
and sterling silver pocket knives to the men. Friday af Michigan Unincorporated Bankers’ Association was formed
ternoon the delegates and their guests sailed around at the convention, with W . H. Acker of Richmond, Mich.,
Manhattan Island, and in the evening enjoyed the illu as President. In referring to the new organization, and its
minations, fireworks and music arranged for them at the purpose, Mr. Acker, according to the Detroit “ Free Press,”
Manhattan Beach Hotel grounds. A dance at the Oriental said:
Hotel last night concluded the social program.
W . A.
There are 276 unincorporated banks in the State, and one-third of these
Bennett, Vice-President of the American Exchange Bank, are controlled b y national or State banks as branches. W e have 150 mem
bers in our association,and, while most of us are members of the State
was elected President of the Association for the ensuing Bankers’ Association, the unincorporated banks have separate interests
year; C. A. Pugsley, Vice-President, and E. L. Mil mine, to look after in the way of legislation and other matters. There is abso
lutely no clash and both associations will meet at the same place and time
Treasurer
each year.
— The Owen Bill, intended to provide for the guaranty of
— At the convention of the New York Bankers’ Associa
tion just closed, “ The Aldrich Plan as Related to the Mutual bank deposits in Wisconsin, was defeated in the Senate on
Savings Bank” was given able treatment by John Harsen the 14th inst. by a tie vote. It is understood that the
Rhoades, of the banking firm of Rhoades & Co. Mr. bankers as a whole were opposed to the measure. To fore
Rhoades contended that if there is one institution which stall the introduction of similar legislation at the next
should lend its enthusiastic assistance and support to the session it is stated that a movement has been undertaken
cause of banking reform it is the mutual savings bank. to organize group clearing-house associations and secure
Dealing with the question as to whether or not the mutual mutual insurance for the banks of the State. The Mil
savings bank, a non-stock and non-commercial corporation, waukee “ Sentinel” reports that at a meeting of Group 1 of
shall become a member of the proposed National Reserve the Wisconsin Bankers’ Association at Rice Lake on the
Association, and secure its privileges, Mr. Rhoades made 8th inst., the movement had its inception, with the appoint
ment of a committee, consisting of two State bankers and
the following comments:
Since membership is elective, whether the savings depository shall em one national banker, to consult with committees from other
brace tills prerogative b y subscribing to the capital stock, is a matter which groups.
What is desired, it is said, is a plan for the examina
each bank will determine for itself. That advantages will accrue is mani
tion of banks under the supervision of the Wisconsin Bankers’
fest. In such States, for exam ple, as Massachusetts, where the savings
bank Is em powered to Invest in com m ercial paper, the value o f the re-dis Association similar to that in use by the Milwaukee Clearing
count facility is apparent. In the State of New York this distinct service House Association, but with an insurance feature included.
would not obtain, Seeing that we are not perm itted so to Invest our funds,
— The Idaho Bankers’ Association has endorsed the plan
but the privilege of negotiating a loan through the local association upon
our gilt-edged securities m ight be of inestimable value. W hile it is not for currency reform as modified by the Currency Commission
properly within the province of the savings bank to borrow , yet in emerg of the American Bankers’ Association.
Resolutions in the
ency this procedure might be unavoidable. Experience lias shown that it
Is then m ost difficult to approach disinterested institutions, m any of which matter were adopted at its annual convention on the 12th,
m ay be In a like predicam ent. . . .
13th and 14th inst. held at Boise. As a result of a movement
In a letter bearing the signatures of a special com m ittee appointed by
urged by J. A. Givens of Nampa, President of the Asso
the American Hankers’ Association, and addressed to Mr. James B . Forgan,
Vice-President o f the Currency Commission, it has been suggested that the ciation, for the correction of the lack of knowledge which the
mutual or trustee savings bank, provided it has an unimpaired surplus of average man has as to the true relation existing between
not less than the amount which would be required for the capital of a na
tional bank in the same location, m ay subscribe to an amount of capital the bank and the community, a resolution also carried
stock of the National Reserve Association equal to 20% o f the surplus of providing for the appointment of a committee of five “ whose
the subscribing bank, and not less, and such membership shall carry with duty it shall be to prepare and publish statements from time
It In the local association the same rights and privileges as are enjoyed b y
to time, setting forth such information as will inform the
the national bank.
It Is further provided that liabilities for savings deposits, subject to notice public in regard to banking matters generally, and more
o f 00 days, shall be exem pt from a reserve requirement.
particularly in regard to the items of re-discounts and bills
It m ay prove expedient that the first clause be amended. In New Y ork
City, for instance, the required capital for a national bank Is in the neigh payable.”
borhood of $200,000. W e have savings banks with deposits of $100,000,
— Under resolutions adopted during its annual session on
000. An institution with deposit liabilities aggregating $100,000,000,
and a surplus or cxocss In assets of but $200,000 would not be a very desir the 7th and 8th inst. the South Dakota Bankers’ Association
able acquisition to the National Reserve Association. Again, b y such dis pledges its co-operation in the movement furthered by the
crimination m any a small but strong depository would be barred.
Comptroller of the Currency and the American Bankers’
I would suggest that this provision would do better to stipulate as a
membership limitation that the mutual savings bank shall have an unim Association to safeguard banks in the purchase of commercial
paired surplus of not less th a n l0 % o f total deposits and a cash reserve of 5 % . paper by a system of registration.
The Association also
Mr. Rhoades also contended that inasmuch as ho other approved the plan for the establishment of Senator Aldrich’s
banking institution is exempt, it seems no more than right National Reserve Association, as modified by the Currency
that the National Reserve Association should demand as a Commission of the American Bankers' Association.
membership qualification a reasonable cash reserve from
— In its issue of the 16th inst. the “ Oklahoman” of Okla
the trustee savings bank.
homa City announces that practically all the State banks
— The Maryland Bankers’ Association, which met in an which had resisted the assessment levied in March by the
nual session on Wednesday and Thursday of this week at State Banking Board to replenish the bank-guaranty fund,
Deer Park, has adopted a resolution indorsing the Aldrich have now paid the same, and as a consequence it is consid
plan for the creation of a National Reserve Association, as ered doubtful whether the suit brought by the Bank of Indian
amended by the Currency Commission of the American Territory at Guthrie will ever come to trial. The President
Bankers’ Association. A. Piatt Andrew Assistant Secre of that institution had obtained an injunction in May re
tary of the Treasury, in sketching the main outlines of the straining the Board from interfering with the operations of
suggested plan in an address before the bankers, called at the bank because of its refusal to meet the payment. Settle
tention to the fact that the proposed association, both in ment is also reported to have been made by a number of the
1678
THE CHRONICLE
institutions which changed from State to national banks
about the time the assessment was announced.
— In an address before the Virginia Bankers’ Association
at Hot Springs on the 17th inst., Oliver J. Sands, President
of the American National Bank of Richmond entered into
a discussion of currency legislation, pointing out the defects
of the present system, and urging the enactment of the
proposed Aldrich plan. The Richmond “ Despatch” reports
that although Mr. Sands seriously questioned the probab 1 ty
of the country ever being able to adopt all at once a radical
revision of its financial and banking system, he asserted that
unless the bankers made some attempt to settle the question
in the near future, such legislation would not result until the
country had experienced some great financial calamity
bringing all classes to their knees. Congressman Edward B.
Vreeland also spoke on the currency question and Mr.
Aldrich’s solution of the problem. At the instance of
Joseph M. Hurt, of Blackstone, a resolution was passed
calling for the appointment by the President of the Associa
tion of a committee of twenty bankers, two from each of
the ten Congressional districts in the State, to study the
proposed currency legislation, and instruct their Representa
tives in the Lower House before the next meeting of Congress
as to their findings.
[VOL.
LXXXXII.
The sentence of one year in the county penitentiary
imposed on William A. Diboll, Treasurer of the United
Wireless Telegraph Co., was remitted by Judge Martin on the
21st inst., and instead he has been sentenced to pay a finoof
$2,000. Treasurer Diboll has also been relieved from paying
his share of the $50,000 which he and his associates were
assessed for the prosecution of the suits brought against them,
in which they were charged with misusing the mails with
intent to defraud.
— On Monday next, the 26th inst., the Nassau National
Bank of Brooklyn will increase its capital from $750,000 to
$1,000,000, and when the new capitalization is completed,
the institution will become a member of the New York Clear
ing House. Stockholders are privileged to subscribe at par
for the new stock to the extent of one-third of their present
holdings. On June 7 the bank carried the largest line of
deposits in its history, this item reaching an aggregate of
$9,251,200. Its earnings are steadily increasing, as an
earned surplus of $1,000,000 and undivided profits of $61,301
abundantly testify. The bank is a thoroughly mercantile
institution.
— A reduction of $500,000 in the capital of the Franklin
Trust Co. of Brooklyn, changing it from $1,500,000 to
$1,000,000, is contemplated. The capital was increased from
— In commenting on the advantages offered under the
$1,000 000 to the present amount in 1906, in connection with
plan for currency revision suggested by Nelson W . Aldrich,
the opening of a branch office in Manhattan. As the Man
Irving F. Moulton, Vice-President and Cashier of the Bank
of California, N. A ., of San Francisco, in an address presented hattan office was discontinued on April 29 last, satisfactory
arrangements having been made with the Farmers’ Loan &
at the convention of the Oregon Bankers' Association on the
lrust Co. for the convenience of depositors in Manhattan,
9th inst., made the following statement:
and as the l1ranklin has become a member of the New York
The smaller banks would receive proportionately as great benefit as the
larger Institutions. The crop-m ovin g season Is the time when banks are Clearing-House Association, the trustees believe that a
obliged to borrow most heavily. Then the country banks sufier as severely capital of $1,000,000 is now sufficient for the company’s
as d o their city brothers. Both should welcome a reform that would create
requirements, and that it is for the interest of the stock
a more Intelligent use of assets than Is now possible. This matter of elas
The
ticity Is so well set forth In the Aldrich plan that It scarcely needs explaining. holders that the capital be reduced to $1,000,000.
It is universally conceded that the Aldrich system o f establishing the cur amount thus released is to be applied in increasing the surplus.
rency system and discount centres m ore nearly approaches what will be
1 he proposed reduction will not alter the company’s finan
acceptable to the entire country than anything yet exploited. The fear
o f the smaller bank regarding the working out of the Aldrich system is cial position, or the proportionate share of each stockholder
without foundation.
in the assets of the company, but will simply mean a trans
— It is understood that the National City Bank of this fer of $500,000 from capital account to surplus account.
city has under consideration plans for the organization of Action in the matter will be taken by the stockholders on
a security company along the lines of the First Security Com July 5. The company’s deposits have been steadily grow
pany, formed by the First National Bank in 1908. As in the ing; on Jan. 2 1911 they were $12,103,762, increasing to
latter case, the company allied with the National City Bank $13,279,832 Feb. 28 and to $14,296,019 June 7, when its
would, if established, hold the various securities owned by total resources were $16,883,047. The board is representa
the bank. While the proposition has not yet been developed, tive of many important New York and Brooklyn business
it is intimated that the new organization will probably have interests.
a capital of $10,000,000, which will be provided for through
— A charter for the Springfield Avenue Trust Co. of New
a cash dividend of 25% on the $25,000,000 capital of the ark, N. J., was approved by the State Banking Department
National City Bank. The bank’s surplus and profits exceed on the 15th inst. The company will have a capital of
$34,000,000.
$100,000; it will locate on Springfield Avenue.
— In the interval between Jan. 2 1911 and June 7 1911,
the Farmers’ Loan & Trust Co. of New York, London and
Paris increased its line of deposits $16,250,436, or from
$116,368,590 to $132,619,026. On the latter date the com
pany’s capital and undivided profits were $7,415,039 and
aggregate resources $141,638,645.
— Two new members have been elected to the board of the
Bankers Trust Co. of this city, increasing the membership
to twenty-seven. The new directors are Francis L. Hine
and Charles D. Norton, respectively President and Vice
President of the First National Bank.
— Charles Starek, a National Bank Examiner at New York,
hfts entered the employ of the First National Bank of this city.
— Vacancies on the board of the Trust Co. of America of
this city have been filled by the election to its directorate of
Charles E. Meyer, Charles D. Freeman and Albert B.
Boardman.
— The forty-sixth consecutive dividend of the Columbia
Bank of this city has been declared, being a semi-annual
distribution of 8 % , payable July 1. This places the stock
on a regular 16% per annum basis; the amount paid in 1910
was 12% regular and 4 % extra, previous to which 12%
. had been the yearly rate.
— Francis J. Molloy, Second Vice-President of the Manu
facturers’ National Bank of Troy, N. Y ., and Mayor of Troy
from 1894 to 1900, died on the 18th inst. He was sixty-four
years of age. Mr. Molloy was also a member of the Demo
cratic State Committee.
— The Asbury Park Trust Co., newly organized, is to
begin business on July 1. The entire capital and surplus of
$125,000 is announced as paid in, the payments having been
completed on the 15th inst. W . J. Couse is President of the
company and F. A. Schilling is Treasurer. The institution
is equipped with a steel-lined fire and burglar-proof vault,
which will contain from 75 to 100 safe deposit boxes.
— As a result of the vacancies which occurred through the
death last month of Burton G. Bryan, Secretary and Treas
urer of the Colonial Trust Co. of Waterbury, Conn., Charles
E. Spencer Jr. has been elected Treasurer and Wilbur P.
Bryan has been chosen Secretary. Mr. Spencer had been
Assistant Treasurer, while the new Secretary had held the
office of Assistant Secretary. Henry L. Rowland has been
elected Trust Officer in place of George M. Woodruff, who
resigns that position, but continues as First Vice-President.
The election of a successor to the late Mr. Bryan on the
board has been deferred until a later meeting. Resolutions
attesting to the worth of their late associate were adopted
by the directors.
— Since Jan. 1 1909 the Hudson Trust Co., Broadway
and 39th Street, has made substantial addition to deposits,
0 ° June 16 the Old Colony Trust Co. of Boston reached
having increased them from $2,243,241 to $3,757,748 on its twenty-first anniversary, and on this occasion the growth
June 7, a gain of nearly 70% . The company has a capital which has come to the institution is worth recording. De
of $500,000 and surplus and profits of $710,165. The execu posits of $80,933,451 are shown in the statement issued
tive staff includes Elverton R. Chapman, President; Louis under date of June 7, the total assets in this report reaching
II. Holloway, Henry C. Strahmann and John Gerken, Vice $94,516,311. The Boston “ News Bureau” in a recent edition
Presidents; Henry G. Lewis, Treasurer, and Richard A. furnished a table indicating the development of the company
Purdy, Secretary.
since its organization on June 16 1890, and we reproduce
THE CHRONICLE
J u n e 2 4 1 9 1 1 .]
the same herewith, adding the figures under the new call
of June 7. The other figures are all of date Oct. 31.
Capital, surplus &
undivided profits.
1800
1833
1805
1898
1902
1906
1911
.....................
$1,570,832
................ ................ . .
1.680,046
----------------------1,905,688
-----------2,626,686
............. . ................... 4,891,993
............
7,587,619
......... ........ ................ . 13,442,860
Deposits,
Resources.
$3,512,060
6,801,005'
12,216,788
22,571,480
25.226,653
32,039,055
80,933,451
$5,031,802
8,505,474
14,125,420
25,198,168
30,118,646
40,524,674
94,516,311
The company last year (in February) took over the busi
ness of the City Trust Co., the combination forming the
largest trust company in New England. The aggregate
deposits, following the merger, were announced as close to
$65,000,000 and the resources as over $77,000,000. Com
parison of these with the latest figures reveals the extent of
the further expansion within the past sixteen months.
— William Watson Smith, of the law firm of Gordon &
Smith, has been elected a director of the Union National
Bank of Pittsburgh, succeeding the late Johns McCleave.
— Action on the question of increasing the capital of the
Union Bank of Chicago from $200,000 to $500,000 will be
taken at a meeting of the stockholders to be held on July 11.
The new stock is to be sold at $130 per share, and of the
$90,000 premium. $75,000 will be added to the surplus,
making it $115,000, while $15,000 will go toward profits.
The purpose of the new capital is to provide for the acquisi
tion of the bank’s premises, negotiations for which were
recently consummated. Under these proceedings the bank
purchases for $100,000 the building in which it is housed
(formerly the property of the old National Bank of Illinois),
and obtains a ground lease of the premises for a term of 198
years. The Union Bank has occupied the bank floor of the
building since May 1910; the property is now known as
25 North Dearborn Street, but had previously been desig
nated 115 Dearborn Street. The lease is taken over at a
graded rental of $30,000 a year for the first five years, $32,000
for the second five years, $34,000 for the next five and $36,000
for the remainder of the term— 183 years— the yearly rent
thus averaging $35,696. The site measures 91x120 feet.
The bank was established in 1905 and has deposits of about
$1,400,000.
— Authority has been granted by the State Department
to organize the Merchants’ Bank of Chicago with $200,000
capital. It is stated that the bank will not be given an
operating existence; the Merchants’ Loan & Trust Co. is
responsible for the movement, and, as in the case of the Union
Trust Co. of Chicago, which undertook the formation of a
separate concern, and then arranged for its absorption for
the purpose of enlarging its board of directors, the auxiliary
organization will be merged with the Merchants’ Loan &
Trust Co. The latter is limited under its charter to thirteen
directors, while under the charter of the Merchants’ Bank
a directorate of thirty-five is provided for.
— The growth of its trust business has compelled the First
Trust & Savings Bank of Chicago to prepare new and
enlarged quarters for its trust department, located on the
street floor at the northeast corner of the First National Bank
Building, with a direct entrance on Dearborn Street and
entrances from the bond and savings departments and the
lobby of the building. This new space, occupying nearly
the entire north half of the Dearborn Street side of the build
ing, has been arranged and equipped with every modern
facility for the transaction of trust business and the con
venience and comfort of the bank’s customers. The lobby
and customers’ waiting room of the new department are fitted
in marble and brjnze and the officers' quarters and cus
tomers' consultation room in mahogany. The development
of trust business in Chicago is well illustrated in the case of
the First Trust & Savings Bank. Its trust department was
started at the time of the bank’s organization in 1903, but
soon outgrew its quarters and several years ago required the
enlargement of the banking offices for its accommodation.
It was thought at that time the new space would be sufficient
to accommodate its needs for a number of years, but the
large and varied business of a fiduciary character entrusted
to it has necessitated the present removal of this depart
ment.
— The Home Savings Bank of Milwaukee began business
on the 15th inst. under the management of Faustin Prinz,
President, and Michael Wells, Vice-President and Cashier.
It is located at Third Street and Garfield Avenue.
— Articles of incorporation for the Commercial State Bank
of St. Paul, at Seven Corners, with a capital of $25,000, were
filed on the 14th inst.
1679
— A second dividend in liquidation of $50 per share was
made payable to the stockholders of the Citizens’ Bank of
Louisiana at New Orleans on the 21st inst. The first
dividend amounted to $125 per share. The bank had a
capital of $380,200. It was succeeded by the Citizens’ Bank
& Trust Co. on January 30.
— A proposal to increase the capital of the Bankers’ Trust
Co. of Houston, Texas, from $1,000,000 to $2,000,000 will be
acted upon by the shareholders at a meeting on August 15.
It is also understood that a change in the name of the insti
tution is contemplated.
— The report of the Imperial Bank of Canada (head office
Toronto) presented at the annual meeting May 25, and
covering the year ending April 30 1911, shows $833,126
as carried forward after the customary appropriations, as
against $696,135 a year ago. The sum available for dis**
tribution aggregated $2,307,386, consisting of the $696,135
at the credit of profit and loss of April 30 1910, the net profits
for the year of $841,692 and the premium of $769,559 on
new stock. The dividend requirements absorbed $625,428,
a transfer of $769,559 was made to the reserve fund, $71,774
was written off bank premises and $7,500 was contributed
to the employees’ pension and guaranty funds, leaving, as
stated above, $833,125 as the sum carried forward. The
deposits, interest-bearing and non-interest-bearing, have
grown during the twelve months from $41,399,889 to $46/504,492 and the total assets now stand at $63,710,026,
against $56,239,000 April 30 1910. The paid-in capital is
$5,769,559, and the Reserve Fund is equal to the capital.
With the May 1 distribution, the dividend rate of the bank
was increased from 11 to 12% per annum.
FA LL
R IV E R
M IL L
D IV ID E N D S
FOR
F IR S T
H ALF
1911.
"
Thirty cotton-manufacturing corporations located in
Fall River which furnish reports of operations have de
clared dividends during the second quarter of the year.
The total amount paid out is much less than for the cor
responding periods of 1910 or 1909. The aggregate of the
amount distributed has been $341,025, or an average of
1.23% on the capital. In 1910 the amount paid by thirtyfive mills was $442,650, or an average of 1.67% . In 1909
the average rate of dividend was 1.58% , in 1908 1.66%
in 1907 2.21% ; in 1906 1.32% ; in 1905 0 .78% ; in 1904 1.15%
in 1903 1.42% ; in 1902 2.1 4 % . In 1901 the average per
centage was 1.43 and in 1900 the average rate of distribution
was 2 % . In 1899 the average dividend was 1.31% ; in 1898
it was 0.50% ; in 1897 it was 0.91% ; in 1896 it was 1.57% .
Current year’s rate has therefore been exceeded each year
since 1905.
OF
Dividends 1911.
Second Quarter.
1911 and 1910.
Capital.
%
Amount.
$
$
American Linen On_____
6,000
800.000
H
Ancona Mills. - ................
300,000 al'A
1,500
Arkwright Mills_________
450,000 No dl vldcnd.
Barnard Mfg. Co________
495,000 No dl vldend.
1
Bamaby Mfg. Co_______
3,500
350,000
Border City Mfg. Co
1,000,000
15.000
IX
Bourne Mills.................... 1,000,000
15.000
IX
Chaco Mills...... ............. .
18,000
1,200,000 I X
Conanlcut Mills.
251,670
3,775
1H
8,000
400.000 2
Cornell Mills.................. .
18,750
Davis Mills........................ 1.250.000
IX
7,500
Davol Mills------------------500.000
IX
Flint Mills_____________ 1.160.000 No dl Vldend.
15,000
Granite Mills.................... 1,000,000
IX
12,000
800,000
Hargraves Mills................
1M
King Philip Mills.............. 1,500,000
22,500
IX
000,000
9,000;
Laurel Lake Mills............
IX
10,500
700,000
Lincoln Mfg. Co..............
IX
350.000
5,250
Luther Mfg. Co_________
1M
750.000
1
7,500
Mechanics’ Mills..............
1
12,000
Merchants’ Mfg. Co......... 1,200,000
400,000
6,000
Narragansctt Mills..........
1H
Osborn Mills.. ________
750.000
11,260
iX
800.000
12,000
Parker Mills......................
IX
18,000
Pocasset Mfg. C o ............. 1,200,000
IX
20,000
Richard Borden Mfg. Co. 1,000,000 2
Sagamore Mfg. Co---------- 1,200,000 2
24,000
600,000 No dl vldend.
Seaconnct Mfg. Co--------550,000
8,250
Shove Mills
IX
Stafford Mills.................... 1,000,000 No dl vldend.
10,500
Stevens Mfg Co________
700.000
IX
11,250
____
Tecumseh Mills
750.000
IX
6,000
TroyCot.&Wool. Mfg. Co.
300.000
18,000
Union Cotton Mfg. C o ... 1,200,000
IX
750,000 No dl vldend.
Wampanoag Mills............
1
500,000
5,000
Wcetamoo Mills..............
Total.............................. 27,750,670 1.23
Inc. <+)
AM
U
T
Amount. Dec. (—).
Dividends 1910.
%
$
12,000
1,500
4,500
7,425
3,500
15.000
15.000
24,000
3,775
8,000
18,750
7,500
8,700
20,000
20.000
22,500
2
12,000
No dl vldend.
6,250
IX
11,250
IX
18,000
IX
2
8,000
1
11,250
20.000
d2X
18,000
IX
20,000
2
24,000
2
12,000
7i2
8.250
IX
15,000
IX
10,500
\x
11,250
IX
3
9,000
18,000
ix
11,250
IX
7,500
ix
IX
aIX
1
IX
1
IX
ix
2
ix
2
IX
IX
bI X
2
d2X
IX
341,025 /cl.67
$
— 0,1300
—4,500
— 7,425
__
— 6,000
—8.700
—5,000
—8,000
______
—3,000
+ 10,500
—3,750
— 6,000
— 2,000
—8,000
______
______
— 12,000
— 15.000
—3,000
— 11,250
— 2,500
442,650 — 101,625
a On $100,000 pref. stock. b On capital ot $580,000. 4 1 ^ % regular and 1%
extra, h I X regular and X % extra. Jfc On capital of $20,525,000.
Combining the foregoing results with those of the first
quarter, w e nave the following exhibit for the half-year. It
is seen that on a capitalization of $27,756,670, the mills have
paid out in dividends $784,875 in the first half of the present
year, or 2 .83% , against 3.59% in 1910; 4.30% in 1909,
3.92% in 1908, 4.70% in 1907, 3.26% in 1906, 1.15% in
1680
THE CHRONICLE
1905, 2.36% in 1904, 2.89% in 1903 and 3.57% in the like
period of 1902.
Dividends 1911.
Half-Years.
1911 and 1910.
Capital.
%
Dividends 1910.
Amount.
%
Amount. Dec. (—).
%
s
800,000 2%
18,000 3
24,000
300,000 3
3,500 3
3,000
450,000 No dl vldend.
2%
11,250
495,000
7,425 3
14,850
1%
350,000 2
7,000 2
7,000
1,000,000 3
30,000 3
30,000
30,000 3
1,000,000 3
30,000
42,000 4
1,200,000 3%
48,000
7,550 3
251,670 3
7,550
16,000 14
400.000 4
56,000
37,600 3
1,250,000
3
37,500
15,000 3
500,000
3
15,000
17,400 3
1,160,000
1%
17,400
1,000,000 3%
35,000 4
40,000
32,000 5
800,000 4
40,000
45,000 3
1,500.000 3
45,000
21,000 4
600,000 3%
24.000
700,000 3
21,000 No dl vldend.
10,500 4
350,000 3
14,000
750,000 2%
18,750 3
22,500
1,200,000 2%
30,000 3
36,000
400,000 3%
14,000 4
16,000
750,000 3
22,500 3
22,500
800,000 4
32,000 5
40,000
1,200,000 3
36,000 3
36,000
1,000,000 4
40,000
6
60,000
1,200,000 4
48,000 4
48,000
600,000 No dl vidend.
4
24,000
550,000 3
16,500 3
16,500
1,000,000
15,000 3
1%
30,000
700,000 3
!U21, 00 3
21,000
750,000 3
22.509 6
22,500
300,000 4%
13 500 6
18,000
1,200,000 3
36 000 3
36,000
750,000
11 250 3
22,500
1%
600,000 2%
12,500 3
15,000
American Linen Co.
Ancona Mills_____
Arkwright Mills___
Barnard Mfg. C o ...
Barnaby Mfg. C o..
Border City Mfg. Co
Bourne Mills_____
Chaco M ills............
Conanlcut Mills___
Cornell Mills______
Davis Mills________
Davol Mills..........
Flint Mills-- . . .
Granite Mills_____
-Hargraves Mills___
King Philip M ills...
Laurel Lake Mills..
Lincoln Mfg. Co___
Luther Mfg. Co____
Mechanics’ Mills___
Merchants’ Mfg. Co
Narragansett Mills..
Osborn Mills..........
Parker Mills............
Pocasset Mfg. Co___
Itichard Borden Mfg. Co.
Sagamore Mfg. C o ..
Seaconnet Mills___
Shove Mills_____
Stafford Mills_____
Stevens Mfg. C o ..
Tecumseh Mills___
Tro yCot. & Wool. Mfg.Co.
Union Cotton Mfg. C o ..
Wampanoag Mills..........
Weetamoe Afllis............
27,750,670 2.83
784,875 3.59
Inc. ( + )
s
— 6,000
— 11,250
—7,425
— 6,000
—40,000
—3,000
+21,000
— 3,500
—3,750
— 6,000
—2,000
Chicago___
Milwaukee..
Duluth........
Minneapolis.
T oled o____
Detroit........
Cleveland . .
St. Louis__
P eoria ------XCansas City.
Total wk. ’ l l
Same w k .' 10
Same wk. ’09
1909-10.
1908-09
2,320,761
1.933,658
1,437,945
5,699,244
3.334.698
3,067,907
606,575 150,149
236,990 112,760
482,720
623,882
— 4,500
— 11,250
— 2,500
951,050 — 166,175
35,686
16,000
779,012
839.415
Oats,
bush.
6,320
235
2,400
COO
58,728
835
769
The destination of these exports for the week and since
July 1 1910 is as below:
Week
Exports for week and June 17.
Since Julg 1 to—
bbls.
United K ingdom ... 59,655
Continent.............
37,473
Sou. A Cent. Amer. 20,737
West Indies________ 31,934
Brit. Nor. Am. Cols.
350
Other Countries___ ____
lour--------- ----------Wheat---------------Corn-----------Since
Since
Since
Julg 1
Week
July 1
Week
July 1
1910. June 17.
1910. June 17.
1910.
bbls.
bush.
bush.
bush.
bush.
4,251,234 382,050 35,022,799 353,912 21,615,963
2,008,059 384,084 21,230,948
178,379 22,847,085
1,076,145
12,878
373,S93
23,846 2.674,690
1,234,373
........ 8,212
48,816- 1,613,362
79,645
--------14,404
234,348
25,000
1,622
56,748
Total...................150,149 8,883,804
Total 1909-10....... 112,760 9,459,576
779,012 56,660,852
839,415 83,048,899
Wheat.
Exports.
606,575 48,822,252
236,990 28,557,418
Corn.
1910-11.
1909-10.
Week | Since
June 17. | July 1.
North Amer.
Russia.........
Danube___
Argentina . .
Australia__
India _.
Oth. countr’s
Bushels. | Bushels.
1,872,000 12G,715,000
4,384,000 217,204,000
296,000 86,082,000
1,928,000 87,746,000
752,000 55,544,000
1,600,000 49,436,000
128,000 7,760,000
Since
July 1.
Bushels.
136,874,000
210,784,000
20,026,000
57,212,000
39,504,000
1
145,408,000
1910-11.
Week
June 17.
Since,
July 1.
1909-10.
Since
July 1.
Bushels.
Bushels.
Bushels.
520.000 44,046,000 28,273,000
1,819,000 25,683,000 17,868,000
2,066,000 77,348,000 27,376,000
55,516,000 67,405,000
r _____
\ _____
Total------- 10960000 630,547.000 509.808,000 4,405,000 202,593,000 140,922,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
United I
Kingdom. \Continent.
June 17
June 10
June 18
June 19
June 21
Total.
United
\Kingdom.
Bushels. I Bushels.
Bushels. I
1911. . 25,160,000 25,108,000 50,328,000;
1911.. 26,904,000 29,384,000 56,288,000
1910 — 26,000,000 11,120,000 37,120,000!
1909.. 25,600,000 14,480,000 40,080,000
1908.. 19,600,000 13,920,000 33,520,000!
Bushels.
6,078,000
6,239,000
5,270,000
8,415,000
6,205,000
Continent.
Total.
Bushels.
6.536.000
6.571.000
4.930.000
11,220,000
9.945.000
Bushels.
12.614.000
12.810.000
10,200,000
19.635.000
16.150.000
— An attractive list of municipal and Western industrial
securities is advertised on another page by the bond depart
ment of the Continental & Commercial Trust & Savings
Bank, Chicago. Special circular giving full detailed infor
mation will be sent on request.
Barley.
Rye.
381,325
1,178,619
887,938.
30,580
56,363
69,813
14,184,670 201,792,087 257.721,152 175,392,734 61.773.469 5,053,028
18,518,410 233,211,766 167(559,954 78,232.965 76.423,453 6,519,031
18,351,205 207,347.622 136,763,747 152,453,802 78.086.457 6.090.423
Corn,
bush.
190,274
77,265
The world’s shipments of wheat and corn for the week
ending June 17 1911 and since July 1 1910 and 1909 are shown
in the following:
8%
116%
108
111
92
216%
86%
24%
131
28%
57
37%
57%
47%
145
155%
38
70
51%
66
32%
114
46%
112
93%
138
64
82%
46%
46
34%
121%
32%
73%
190%
97
80%
122%
17%
39%
70%
4,001,794
2,844,668
2,567,951
1*04 i
the exports^from the several seaboard ports for the week
ending June 17 1911 are shown in the annexed statement:
— 15,000
bbls.\66lbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu. 56lbs.
105,212
170,000 3,802,850 2,142,400
117,000
5,000
63,920
154,810
214,700
394,400
106,600
9,180
10,785
294,528
187,887
346,054
325
1,286,380
160,050
225,000
141,800
15,400
02,000
63,600
48,000
..........
..........
5,170
35,235
31,525
65,080
500
10.640
94,720
36,510
48,830
133,168
555,250
477,850
50,000
12.000
246,062
15,600
190,000
i.ooo
168,000
342,600
76.500
290,417
305,421
390,092
Rye,
bush.
37,530
1,107
1,105,615 886,424 132,407 39 678
43,111,14623,141,735 2540 039 349’ g87
650,878 902,045
46,240 26'485
21,120,57720.713,399 1747,113 408|864
1,000
473,000
Wed. '.
24 7-10
79 11-16
79 11-16
95.20
Oats.
Barley,
bush.
132,407
1,000
35,029
16,350
271,000
Breadstuffs Figures brought from page 1711.— The state
ments below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
Corn.
Oats,
bush.
561,200
71,545
136,752
22,398
58,500
Total week___
Week 1910_____
—20,000
& xo*
Wheal.
Total week 1911.. 337,172
658,654
SlnceJan. 1 1911..8,532,927 28,404,858
551,407
Week 1 910..------- 287.802
SlnceJan. 1 1910.-7,808,876 31,551,023
Com,
bush.
376,600
51,715
26,084
159,265
271,200
______
2,666
16,350
202,401
— 24,000
— 8,000
6 £ sterling.
Flour.
Wheat,
bush.
164,400
74.691
21,000
70,676
22,700
______
14,000
______
291,187
Flour,
bbls.
70,022
12,729
5,000
10,809
4,983
1,500
3,220
7,886
34,000
C o m m e r c ia l and g$*iscellan ce u ;lle
Receipts at -
Flour,
Receipts at—
bbls.
New Y o r k ............. 151,319
Boston ..................
25,320
Philadelphia......... 42,948
Baltimore..............
32,791
New Orleans *___
24,350
Newport News___
1,500
Galveston..............................
M obile..................
7,886
Montreal................
51,058
Wheat,
Exports from —
bush.
New Y o r k ______ 278,498
B oston_____ . .
63,867
Philadelphia___
54,000
Baltimore_______ 109,6-17
New Orleans___
Newport News__
Galveston_______
Mobile................ ..
Montreal.............. 273,000
English Financial Markets— Pot Cabled...... .........
The daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
a Price per share.
lotal receipts of flour and grain at the seaboard ports for
the week ended June 17 1911 follow:
* Receipts do not Include grain passnlg through New Orleans for foreign ports
on through bills of lading.
*
— 5,000
—8,000
^ m r c t a v ^ (go ninvcx\~ial
London,
Week ending June 23.
Sal.
Mon.
Tues.
Silver peroz.................. ..<f. 24 0-16 24%
24%
Consols, new, 2% per cents. 79%
79%
79%
X^or account-------------------- 79 15-16 79 13-16 79%
French Rentes (In Paris).fr. 95.35
95.37% 95.20
Amalgamated Copper Co
—
Amcr. Smelting & Refining
b Anaconda Mining Co____ - 8%
8%
8%
Atch. Topeka & Santa Fc .116%
117%
117%
. 108
108
10S
.111%
111%
111%
. 02
92
92
.247%
248%
247 %
. 80%
86%
86%
Chicago Great Western..
24%
24%
24 M
.131%
132
131%
29%
■ 29%
29%
. 61
61
59%
Erie
36%
■ 36%
37%
57%
57%
58%
. 47
46%
48
115%
145
145%
156
156
157
38%
38%
38%
70%
70
70
51%
52
51%
Nat. HR. of Mex., 1st pref. 66%
67
67
31%
33%
33%
114
114%
114%
46%
46%
46%
110%
111
110%
93%
93%
93%
138%
138%
138%
04
64
64%
82%
82
82%
46
46
46%
40%
46
46
34%
34%
34%
122%
122%
122%
32%
32%
33
73%
72%
73%
191
191%
191%
97
97
97
81%
81%
81%
122
122
122%
17%
17%
17%
40
40
39%
70%
70%
70%
[VO L. L X X X X I I .
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are -printed in italics.
Name of Company.
Railroads (Steam)
Alabama Great Southern, ordinary............
Preferred ....................................... ............
Albany A Susquehanna........................
Allegheny & Western, guaranteed.
Atch. Topeka A Santa Fe. pref.................I
Atlantic Coast Line RR., commonl-JIU
Beech Creek, guar, (guar.)...... ...........
Boston A Albany (quar.)_______________I
Boston A Lowell................................
Boston A Maine, common (quar.)______
Boston A l’rovldence (quar.)....................
Boston Revere Beach A Lynn....... ...........1
Canada Southern.......................................... "
Canadian Pacific, com (quar.) (No. 60)"
Carthage Watertown A Sackets Harbor..
Central RR. of New Jersey (quar.)_____
Extra....................................
'..
Chesapeake A Ohio (quar.)_____________
Chicago Burlington A Quincy (quar.)____
Chicago A Eastern Illinois, pref. (quar.).
Chic. Indianapolis A Louisville, com____
Preferred ....................................... ............
Chicago A North Western, com. (quar.)
Preferred (quar.)....... .......... .....................
Chicago A Western Indiana (quar.)..........
Cent.
2%
3
4%
3
2%
3
1
2%
4
1
2%
3
1%
2%
2%
2
2
1%
2
1%
1%
2
1%
2
1%
When
Payable.
June
Aug.
July
July
Aug.
July
July
June
July
July
July
July
Aug.
June
June
Aug.
June
June
July
July
June
June
July
July
Juno
Books Closed.
Days lnclusli't.
27 Holders of rec. May27a
28 Holders of rec. July 22a
1 June 16 to June 30
1 Holders of rec. Junc22a
1 Holders of rec June30a
10 June 22 to July 10
1 Holders of rcc. Junc23a
30 Holders of rec. May3 la
3 May 29 to Juno 3
1 Holders of rec. June la
1 Holders of rec. June20a
1 Holders of rcc. Juncl5a
1 Holders of rcc. Juno30a
30 Holders of rec. June la
30 Holders of rec. June23a
1 Holders of rec. July20a
26 Holders of rec. Juncl5a
30 Holders of rec. June 9a
1 June 27 to July 4
1 Holders of rec. Junel7a
28 Holders of rcc. Junella
28 Holders of rec. Junel4tt
1 Holders or rec. June 2a
1 Holders of rcc. June 2a
30 Holders of rec. June30a
THE CHRONICLE
J u n e 2 4 191 l .j
Name o f Company.
Per
Cent.
When
Payable.
Railroads (Steam) Concluded.
Chic. Rock Isld. & Pacific B y. (q u a r.)...
I X June
Clev. Cin. Ch. tfe St. L „ pref. (quar.) ____
1X July
Connecting Railway...................................
2
June
Cuba Railroad, preferred............ .............
2 X Aug.
Delaware Lack. A Western (quar.) ............
2 X July
Delaware River RR. & Bridge................
3
June
Detroit & Mackinac, common....................
2 X July
Preferred .............................. ............... '
2 X July
Georgia Railroad & Banking (quar.).III
3
July
Harris!). Portsmouth Mt. J. & Lancaster
3 X July
Extra...................... ........................... ‘
X July
Hocking Valley, common____ H U ” ___
2
July
Illinois Central, Leased Line, guaranteed
2
July
Interborough Rapid Transit (quar.)___
2X July
Joliet & Chicago, guaranteed (quar.)
1X July
Kanawha & Michigan (No. 1)............
4
June
Kansas City Southern, pref. (qua r.)...
1
July
Lake Shore & Michigan Southern_______
July
6
Guar, stock (Mich. So. <fc No. In d .)..
Aug.
6
Lehigh Valley, com. and pref____________
5
July
Little Schuylkill Nav. RR. & Coal.......... SI.25 July
Louisville & Nashville.......... ....... .............
3 X Aug.
Mahoning Coal RR., common.................. $5
Aug.
Preferred...................... ........... ...............
2 X July
Maine Central (quar.)_________________
July
2
Manhattan Ry., guar, (quar.) (No. 109).
l « July
Michigan Central................ ......... .............
July
3
Mine Hill A Schuylkill Haven..................
July
3
Mobile A Ohio.......................................
4
June
Morris & Essex, guaranteed.................... .
3 X July
New York Central & Hud. River (quar.)
IX July
N. Y. Chic. & St. Louis, 1st & 2d p re f...
2 X Sept.
New York & Harlem, com. & pref______
July
5
New York Lackawanna & Western..........
I X July
N. Y. N. H. & Hartford (quar.)..............
$2 June
Part paid stock. Issue of Dec. 20 1909-. S IX June
New York Ontario A Western...................
2
Aug.
Norfolk Southern (quar.) ............ .........
X July
Norfolk A Western, preferred (quar.)____
1
Aug.
Northern Central.......................................
July
4
Northern R R. of New Hampshire (quar.)
I X July
Norwich & Worcester, pref. (quar.)____
2
July
Old Colony (quar.).............. ................. .
I X July
Philadelphia Baltimore & Washington__
2
Juno
Philadelphia A Trenton (quar.)................
2 X July
Plttsb. Ft. W. & Chic., reg. guar, (quar.)
IX July
Special guaranteed (quar.)....................
I X July
Reading Company, common.............. .........
Aug.
3
First preferred.........................................
2
Sept.
Rensselaer & Saratoga.............. ...............
4
July
Rich. Fred. A Pot., cam. & div. obit___
4 X July
St. Louis & San Francisco—
Chicago & East. III. com. tr. ccrtfs___
July
5
Preferred trust cerfts. (quar.)..........
I X July
K. C. Ft. S. & M. pf. tr. ctfs. (quar.).. 1
July
St. Louis Southwestern, preferred..........
July
2
Southern Pacino Co. (quar.) (No. 1 9)..
I X July
Southwestern R R. of Georgia.............. .
2 X July
Toledo St. Louis & Western, pref. (quar.)
July
1
Union Purine, common (quar.)................
2 X July
United N. J. RR. & Can. Cos., guar.(qu.)
2 X July
Valley RR. (N. Y.). guar........ .................
2 X July
Vermont Valley...... .............................. .....
July
5
Worcester Nashua «& Rochester................
July
3
Wriglitsville A TenniUe, com. and pref__
July
3
S'rcel and Electric Railways.
Amer. Cities Ry. <fc Light, com. (No. 5 )..
2 X July
Preferred (quar.) (No. 20)....................
I X July
Auburn A Syracuse FI. RR., pref. (quar.).
I X July
Aurora Elgin A Chic. RR., com. (quar.)..
X July
Preferred (quar.)....................................
I X July
Bangor Ry. A Electric (quar.)................
IX July
Brazil R y., preferred (quar.).......... .........
I X July
Brooklyn Rapid Transit (quar.)________
I X July
Brooklyn Union Elevated RR., preferred 2 X June
Capital Traction, Wash., I). C. (quar.)..
i X July
Carolina Power ALt., pref. (qu.) (No. 9)
I X July
Ohattan. R y. & Lt.. pref. (quar.) (No. 8)
I X July
Chicago City A Conn. Rys., com. partic-aj
$1 July
Preferred participation certificates........ . S2.25 July
Chicago City Ry. (quar.).........................
2 X June
Clnctn a t Dayton A Toledo, com . . .
X July
Preferred................................- .........
2 X July
Clncln. & Hamilton Trac., com. (quar.).
X July
Preferred (quar.).............. ....................
I X July
Cin. Newport A Cov. Lt. A Trac.,com.(qu.)
IX July
Preferred (quar.)................................
I X July
Cincinnati Street Ity. (quar.).......... .
I X July
Citizens' Elec. St., Newburyport, Mass----2 X July
Cleveland Ry. (quar.).................... ...........
I X July
July
Columbus (Ga.) Elec. Co., pref. (No. 10).
3
Columbus (O.) Newark A Zanes., pf. (qu.)
I X July
Consolidated Traction o f N . J ..............
July
2
Continental Passenger Ry., P h lla ...
$3 June
Denver A Northwestern Ry. (quar.)_____
July
Duluth-Superior Tract., common (quar.)
I X July
Preferred (quar.)....................................
July
1
El Paso Elec. Co., pref. (No. 18)................
July
3
Frankf. & Southw. Pass. Ry., Phlla. (qu.) $4.50 July
Germantown Passenger Ry. (quar.)___ S 1.31X July
Halifax Elec. Tramway,Ltd.(qu.) (No.58)
July
2
, Hcstonv. Mantua & Fair. Pass.Ry..corn. SI
July
Preferred.................. - ................. .......... SI.50 July
Honolulu Rap. Tran, & Land, com. (qu.)
I X Juno
Preferred...........................................
June
3
Illinois Traction, preferred (q u a r.)...
l^ d July
lndlanapolls Street R y ...... .................
3 " July
Interstate Railways, preferred (No. 1)__
3
July
Lake Shore Electric Ry., 1st pref. (quar.)
i x July
Little Rock Ry. A Electric, common___
July
4
Common (extra).................................
July
1
Preferred..........................................
July
3
London (Canada) S lr c e t R y ......
. __ 3
July
Louisv.ANor.Ry.ALlg.. pf. A A II (qu.)..
X July
Louisville Traction, common (quar.) . .
July
1
Manila Elec. RR. & Ltg. Corp. (quar )
I X July
Massachusetts Iilectrlo Cos., preferred
$2 July
Nashville Ry. A Light, com. (quar.)
1
July
Preferred (quar.)......................................
I X July
New Eng. Invest. A Sccur., p ref.............
2
July
New Orleans Ry. A Light, pref. (quar.)..'.
I X July
New York State Rys., com. (quar.)___
I X July
Preferred (quar.)..............................
i x July
Ohio Traction, common...... .................
1
July
OmahaACouncll Bluffs St. Ry.,com. (qu.).
1
July
Preferred (quar.).......... - ...................
i x July
Ottawa Electric Ry. (quar.)..................
2 X July
Pacific Coast Power, common (No. 7 )----2 X July
Common (extra).................................
50c. July
Preferred (No. 2 ) . . . ........................
3
July
Philadelphia Company, com. (quar.)..
I X Aug.
Common (extra).................................
Xff Aug.
Porto Rico Rys., Ltd., pref. (quar.)__
IX July
Public Service Corp. o f N. J. (quar.)..
I X Juno
Puget Sound Elec. Ry., pref. (No. 1 1 )----July
3
July
Railways Company General (extra)..
5
Reading Traction.................................
I X July
Ridge Avenue Pass. Ry., Phlla. (quar.)..
S3 July
St. Joseph Ry..L.,H.&P..pf.(qu.)(No.35)
I X July
Sao Paulo Tram., Light & Power (quar.)
2 X July
Scioto Valley Trac. lit pf. A pref. (guar.)
IX JllV
Books Closed.
Days Inclusive.
Name o f Company.
1681
Per
Cent.
Electric and Street Railways (Concluded).
30 Holders of rcc. Junel6a Seattle Electric Co., com. (quar.)........
IX
20 Holders of rec. June23a Second & Third Sts. Pass., Phlla. (quar.)
$3
30 Holders of rec. June20a South Side Elevated RR., Chicago (quar.)
1 Holders of rcc. June30a Susquehanna Ry., L. & P., com. (No. 1)
1
Preferred.................................................
20 Holders of rec. July 5a
2X
24 Holders of rcc. June 13 Syracuse Rapid Transit, pref. (quar.)__
rx
1 June 16 to July 2 Terre Haute Indiamp. A East., pref____
ix
1 June 16 to July 2 Texas Traction, pref. (q u a r .).................
}X
15 July 2 to July 14 Toronto Ry. (quar.).................... .............
IX
10 Holders of rec. June 20 Trl-Clty Ry. & Light, preferred (quar.)..
ix
10 Holders of rcc. June 20 Twln City R. T., Mlnneap., com. (quar.)
}X
17 Holders of rec. June30a
Preferred (quar.)___________________
ix
1 June 13 to July 4 Union Passenger Ry., Philadelphia.......... $4.75
1 Holders of rec. June24a Union Ry., Gas & Electric, pref. (quar.).
IX
3 Holders of rec. June24a Union Traction, Philadelphia........ ......... $1.50
30 Holders of rcc. June 20 Union Utilities Co., common (quar.)___
X
15 Holders of rec. June30a United Electric Co. o f N .J _____ ________
2
29 Holders of rec. June30a United Power & Transportation_______ $1.10
1 Holders of rcc. June30a United Tract. & Elec., Providence (quar.)
IX
15 Holders of rcc. July 1 Utica A Mohawk Vail. Ry., com.(quar.) ...
X
15 June 11 to July 14
Preferred (quar.)................ .....................
IX
10 July 21 to Aug. 10 Virginia Ry. & Power, preferred________
2
X
1 Holders of rcc. Julyl5a
Wash. Water Power, Spokane (quar.)___
2
1 Holders of rec. Jun"c20a West End Street Ry., Boston, preferred. $2
1 Holders of rcc. Junel5a Western Ohio Ry., 2d perf. (quar ) . . ___
ix
1 Holders of rcc. JunclSa West India Electric Co., Ltd. (No. 14)..
IX
29 Holders of rec. Junc30a West Philadelphia PasscngerRy.
. $5
15 June 20 to July 14 Wheeling Traction (quar.) ____
1
27 Holders of rec. June 21 Winnipeg Electric Ry. (quar.)..................
3
1 Holders of rec. JunelOa
Banks.
15 Holders of rcc. June20a America, Bank o f............
13
1 Holders of rcc. Aug. la Battery Park National...
3
1 Holders of rec. Junel5a Butchers' A Drovers' National...
'
3
1 Holders of rec. Junel5a Chelsea Exchange (quar.)............
2
30 Holders of rec. JunelSa Chemical National (bi-monthly)........
2X
30 Holders of rec. Junel5a Citizens' Central National (quar.). . . ........
IX
14 July 30 to Aug. 14 Coal & Iron National (quar )
I
IX
1 Holders of rec. Junel5a Colonial (quar.)................
2X
18 Holders of rec. July31a Columbia (No. 46)........
........ ..
8
15 Holders of rec. June30a Commerce, National Bank o f (quar.)
2
1 Holders of rec. June 5a East River National____________
'
3
1 June 18 to June 30 Fifth National (quar.) (N o' 144)1............
3
I Holders of rec. JunelOa Fourth National (quar.).......... ............ " 3
30 Holders of rcc. Juncl4a Garfield National (quar.)........ ............. " ]
3
10 July 1 to July 10 German Exchange............ ............. ............. 10
5 June 11 to July 5 Hanover National (quar.)______________
4
1 June 11 to July 2 Importers A Traders' National____ _____ 12
1 Holders of rec. Julyl5a Irving National Exchange (quar.)..........
2
9 Holders of rcc. Aug.23a Jefferson.......... ......... ............... ................
4
1 June 16 to June 30 Liberty National (quar.)________________
5
1 June 22 to July 1 Manhattan Co., Bank o f the (No. 210)___
7
Mamtfaclurers’ Nat., Brooklyn (quar.)..
5
1 Juno 17 to July 2 Market A Fulton National (quar.)
3
1 June 17 to July 2 Mercantile National (quar.)_______I ____
IX
1 June 17 to July 2 Merchants’ Exchange National__________
3
15 Holders of rec. June30a Merchants' National (No. 216)................
3
X
1 Holders of war’ t No.19a Metropolitan (quar.).......... .
2
5 June 16 to July 5 Montauk, B rooklyn.............. ..................
2
16 Holders of rcc. June30a Mount Morris (quar.)............ ...................
3
1 Holders of rcc. June 3a Mutual___________________________ ____
4
10 Juno 21 to June 30 Nassau National, Brooklyn (quar.)..........
3
1 Holders of rcc. June20a New York, Bank of, N. B. A. (No. 255). .
7
1 Holders of rcc. June21a New York County National (No. 1 1 8 )... 20
1
North Side, Brooklyn (No. 3 4 ).. ..........
3
1 June 17 to June 30 Park, National (quar.)_____ ____ _____
4
People's (No. 120)...................... ..............
5
1 June 18 to July 2 People’s National, Brooklyn............ .......
2
l June 18 to July 2 P la za ........................ .
.............. ........... 10
15 Holders of rec. June30a Seaboard National (quar.)......... ..............
3
10
Second National (quar.).......... ................
3
10
S ta te .................... ............ .............. .........
5
1 Holders of rcc. June20a Union Exchange........................................
4
5 July 1
to July 4 Washington IPts, Bank o f (quar.)..............
2
1 Holders of rec. June 9a West S id e . ............. ............ .............. ..
6
30 Holders of rec. June22a
Trust Companies.
1 June 15 to June 30 Bankers (quar.)............................. . ......
4
3 Holders of rec. June26a Central (quar.).......... ............... ...............
9
1 Holders of rec. Junel5a Columbia (quar.)................ ......................
3
1 Holders of rcc. June 20 Commercial o f New Jersey (quar')_______
4
1 Holders of rcc. June 20 Empire (quar.)_____________ _______
2X
30 June 14 to June 17 Equitable (quar.).............. .
0
1 June 16 to July 1 Fidelity.............................................. H I "
3
1 June 16 to July 1 Flatbush, Brooklyn____________________
4
1 June 21 to June 30 Franklin, Brooklyn..................
"
4
1 June 21 to June 30 Fulton (No. 38).............
.H I
5
15 July 1 to July 16 Guaranty (quar.)............ ...........................
8
15 July 1 to July 16 Hudson.................. ....................................
3
1 June 17 to June 30 Knickerbocker (quar.).............. ...............
3
1 Holders of rcc. June30a Lawyers’ Title Ins. & Tr. (qu.) (No. 51)
3
1 Holders of rec. Junel7a Long Island Loan & Trust, Bklyn. (quar.)
3
1 Holders of rcc. June20a Manhattan................ ............ ..................
6
1 June 25 to June 30 Mechanics of N. J. (quar.) (No. 48)........
5
15 July 1 to July 14 Mercantile (quar.)____ ______ _________
5
30 Holders of rec. May31a
E xtra .................... ........... ....................
5
10 Holders of rcc. July la Metropolitan (quar.) (No. 5 8 ) ..................
6
1 Holders of rcc. Juncl7a Mutual Alliance (quar.)............................
IX
1 Holders of rec. Junel7a Mutual of Westchester County (quar.)..
IX
10 Holders of rcc. June30a New York (quar.)........ ..... ............... .
8
1 Holders of rcc. Junel5a Standard (quar.)_____
. ..
4
5 June 15 to July 4 Title Guarantee A Trust (quar.)_____
5
3 June 20 to July 3 Trust Co. o f America (quar.)_________
; 3
1 June 21 to June 30 Union (quar.).......... .......... .............. .
i 12 X
1 June 21 to June 30 U. S. Mortgage A Trust (quar.).......
6
30 June 28 to June 30 United States........................................
25
30 June 28 to June 30 Washington (quar.)................. ...........
3
1
Fire Insurance.
1 June 23 to July 2 City o f New York (quar.)........ ............
2X
5 June 21 to July 6 Hanover (quar.) (No. 119)____ _____
4
1 Holders of rec. June20a
Miscellaneous.
1 June 23 to July 1 Aeolian, Weber Plano & Pianola, pf.(qu.)
IX
1 June 23 to July 1 Alliance Realty (quar.)____ ____________
2
1 June 23 to July 1 American Beet Sugar, pref. (qu.) (No.48)
IX
3 June 25 to July 2 Amer. Brake Shoe & Fdy.,com.& pf.(qu.)
IX
1 June 26 to June 30 American Can, pref. (quar.)............ .......
ix
1 June 11 to June 15 Amer. Car & Fdy., com. (quar.) (No. 35)
X
1 Holders of rcc. JunelOa
Preferred (quar.) (No. 49).......... .........
ix
1 Holders of rec. June 5a American Caramel, preferred (quar.)----2
1 Holders of rec. JunelOa American Cigar, preferred.................... ..
3
1 Holders of rec. JunelOa American Express (quar.)........................
$3
1 Holders of rec. June20a American Gas & Electric, com. (quar.)..
IX
15 July 1 to July 15
Preferred (quar.)...................... .............
IX
1 Holders of rec. June21a Amer. Iron & Steel Mfg., com. & pf. (qu.)
IX
Holders
of
rec.
June21a
1
American Locomotive, preferred (quar.).
IX
1 Holders of rcc. June 26 American Manufacturing (quar.)________
IX
1 Juno 18 to June 30 American Plano, pref. (quar.) (No. 13)-IX
I June 18 to
June 30 Amer. Pipe & Construction (quar.)_____
2
1
Amer. Pose. A Lt., pref. (quar.) (No. 7 ) .. . i x
17 Holders of rcc. July la American Radiator, common (quar.)___
2
17 Holders of rcc. July la American Screw (quar.)--------------- --------2X
17 Holders of rec. July la Amer. Seeding Machine, com. (quar.)----1
1 Holders of rec. July la
Common (extra).................................
X
1 Holders of rcc. July la
Preferred (quar.)................................
IX
1 June 21 to June 30 Amer. Smelt. & Ref., com. (qu.) (No. 31)
1
3C
June 30
Preferred (quar.) (No. 48)........ .
ix
1 Holders of rec. June22a American Snuff, com. (quar.)______
5
1 June 21 to June 30
Common (extra).............. ................
2
1 June 21 to June 30
Preferred (quar.).............. ..............
ix
1 June 17 to July 4 Am. Sugar Refg., com. & pref. (quar.)..
IX
1 Holders of rec. Juneloa
Amerlcan Surety (quar.) (No. 88)_____
3
3 Holders of rec. JunclSa Amer. Telephone A Telegraph (quar.)___
2
1 Jun'' 27 to
_______ American Tobacco, pref. (quar.)____
ix
When
Payable.
July
July
June
July
Sept.
July
July
July
July
July
July
July
July
July
July
July
July
July
July
June
June
July
July
July
July
July
July
July
July
Books Closed.
Days Inclusive.
15 Holders of rcc. July Id
1 Holders of rec. June 5
30 June 20 to June 30
1 June 16 to June 30
1 Aug. 16 to Aug. 31
1 Holders of rec. June30a
1 June 21 to June 30
15 Holders of rec. July la
3 Holders of rec. Junel5a
1 Holders of rcc. June 23
1 Holders of rec. June 12a
1 Holders of rec. Junel5a
1 Holders of rcc. Junel5a
1 Holders of rec. Juncl9a
1 Holders of rcc. June 9a
1 Holders of rec. June20a
1 Holders of rec. June30a
1 June 21 to July 2
1 June 14 to June 18
30 Holders of rec. Junc23a
30 Holders of rcc. June23a
10 Holders of rcc. June30a
1 Holders of rcc. Junel5a
1 June 24 to July 2
10 Holders of rec. June30a
3 June 26 to July 2
1 Holders of rcc. Junel5a
15 Holders of rec. July la
1 June 20 to July 1
1 June 21 to July 2
July
July
1 June 23 to June 30
1 June 23 to June 30
July
July
1 Holders of rcc. June30a
1 June 25 to June 30
July
July
1 Holders of rcc. June 28
July
1 Holders of rcc. June 14
July
1 Holders of rcc. June20a
July
1 June 22 to June 30
July
1 June 24 to July 2
July
1 June 22 to July 4
July
1
July
1 June 21 to July 2
June 30 June 22 to June 30
July
1 June 21 to June 30
July
I June 21 to June 30
July
1 June 21 to June 30
July Id June 22 to July 2
July
1 June 27 to July 2
1 Holders of rcc. June30a
July
July
1 June 27 to June 30
July
1 June 24 to June 80
1 June 21 to June 30
July
1 June 25 to July 2
July
July
1 Holders of rcc. June 22
July
1 Holders of rcc. June 22
July
1 June 18 to June 30
1 June 16 to June 30
July
1 June 21 to June 30
July
July
1 June 23 to June 30
1 June 24 to
July
July 9
1 June 24 to June 30
July
July
1 June 25 to July I
1 June 21 to July 2
July
1 Holders of rcc. June 20
July
1 June 25 to June 30
July
1 Holders of rcc. June30a
July
1 June 28 to July 2
July
July
1 Holders of rcc. June 26
July
1 Holders of rcc. June29a
July
1 June 10 to June 30
June 30 June 21 to June 30
July
1 July 1 to July 2
July
1 June 16 to July 2
July
July
June
July
June
June
July
July
June
July
June
July
June
July
July
July
July
June
June
June
July
June
June
June
June
June
July
June
July
July
July
July
June
July
July
June
July
July
July
July
July
July
July
Aug.
July
July
July
July
July
July
June
June
July
July
July
July
July
July
July
July
July
June
July
July
1 Holders of rcc.
1 Holders of rcc.
30 Holders of rcc.
1 June 29 to
30 Holders of rcc.
30 June 28 to
1 May 24 to
1 June 21 to
30 Holders of rcc.
1 Holders of rcc.
30 Holders of rcc.
1 June 21 to
30 June 24 to
1 June 16 to
1 Holders of rcc.
1 Holders of rcc.
I June 29 to
30 June 24 to
30 June 24 to
30 June 23 to
1 June 25 to
30 Holders of rcc.
30 June 25 to
30 Holders of rec.
30 Holders of rcc.
30 Holders of rcc.
10 July 6 to
30 Holders of rec.
1 June 20 to
1 Holders of rcc.
1 June 30
1 June 24
to
to
June26a
June24a
Junc26a
June 30
June 24
June 30
May 28
June 30
June 29
June 19
June30a
June 30
June 30
July 2
Junel7a
June 7a
July 2
July 2
July 2
June 30
June 30
June29a
June 30
June23a
June 22
June24a
July 9
June 24
June 30
June 24
July
July
2
1
30 Holders of rcc. June 26
15 Holders of rcc. July 5
1 Holders of rec. June20a
30 Holders of rec. June23a
1 Holders of rec. June 16a
1 Holders of rcc. June 9a
1 Holders of rcc. June 9a
1
1 Holders of rcc. Junel5a
1 Holders of rec. May31a
1 June 23 to July 2
1 July 21 to
Aug. I
1 Holders of rcc. Junc20a
21 July 6 to July 23
1 Holders of rcc. June 16
1 June 25 to July 2
1 Holders of rcc. JunelSa
1 June 24 to July 2
30 June 22 to June 30
30 Holders of rec. June23a
15 Holders of rcc. June30a
15 Holders of rec .June30a
15 Holders of rec. June30a
15 June 24 to July 2
1 June 10 to June 18
1 Holders of rcc. Junel5a
1 Holders of rec. JunclSa
1 Holders of rec. June15a
3 Holders of rcc. June la
30'June 16 to July 2
15 Holders of rec. June 30
l 1Holders of rec. Junel2o
1682
Name o f Company.
THE CHRONICLE
Per
Cent.
When
Payable.
Miscellaneous (Conllnucd).
American Type Founders, com. (quar.).
1
July
Preferred (q u a r .),---.......... - .............
1% July
American Woolen, pref. (quar.) (No. 49)
1% July
Hell Telephone of Canada, Ltd, (guar.)___
2
July
Bell Telephone of Missouri (quar.)........
1
July
Bliss (E. IV.), pref. (quar.).....................
2
July
Bourbon Stock Yards (quar.)___________
1% July
Brooklyn Union Gas (quar.)..................
1% July
Buffalo Gen. Elec, (quar.) (No. 0 7 ) __
1% June
Butte El. & P., com. (quar.) (No. 27)July
m
Calumet & Ilecla Mining (quar.)............ . S6
June
Canadian Gen. Elec., Ltd., com. (quar.).
July
Canadian Westinghousc,Ltd.(qu.) (No26)
1% July
Extra.............................................
% July
Celluloid Company (q u a r.)...........
1% July
Central Coal & Coke, common (q u a r.),..
1% July
Preferred (quar.).................. .......
1% July
Central Leather, pret. (quar.)____
1 H July
Central <5: S. A . Tclcg. (quar.)..........
i% July
Chic. June. ltys.& U.Stk.Yds.,com.(qu.)
July
2
Preferred (quar.)..................................
1% July
Chicago Telephone (quar.)____________
2
June
Cincinnati Gas & Electric (quar.)...........
1% July
Cities Service, com. (monthly)..................
'A July
Preferred (monthly)..............................
hi July
City Investing, preferred (quar.)---------1% July
Columbus (O.) Gas & Fuel. pref. (quar.)
l'A July
Columbus (O.) L., II. & P., com. (quar.)
l'A July
Preferred (quar.).............. ........... .........
l ’A July
Consolidated Car H eating.............. .........
2e
July
2
July
E xtra ____________ __________ - ...........
Cons.Gas,Elec.Lt.&Pow., Bait., com.(q.)
l'A July
Consumers’ Power, preferred (quar.)----1% July
Continental Paper Bay, com. (qu.) (No. 25)
1% Juno
t Preferred (quar.) (No. 44)............
l'A June
Corn Products Refining, pref. (quar.)
1
July
Crucible Steel, pref. (quar.) (No. 31)-----June
Cuban-American Sugar, pref. (quar.)-----1% July
Cumberland Tel. & Tel. (quar.) (No. I l l )
2
July
Detroit Edison (quar.)___________
l ’A July
Distillers’ Securities Corp. (quar.) (No. 35)
'A July
Distilling Co. o f America, pref. (q u a r.)...
1
July
Dominion Steel Corp., Ltd. (No. i ) - ........
1
July
Duluth Edison Elec., pref. (qu.) (No. 21)
1% July
Uu Pont Internat. Powder, pref. (quar.).
l'A July
du Pont de Nemours Powd., pref. (quar.)
l'A July
2
Eastern Light & Fuel (quar.).................
June
Eastman Kodak, common (quar.)...........
2% July
July
Common (extra).........— ........... .........
5
Preferred (quar.)...................... - ......... 1% July
Electrical Securities Corp., com. (quar.).
2
June
Preferred (quar.)...................... - ...........
l'A Aug.
Electric Storage Battery, com. A pref. (qu.)
1
July
Empire Steel & Iron. pref. (No. 25)........
1
July
General Chemical, preferred (quar.)___
1% luly
General Chemical of Cal.. 1st pref. (quar.)
l ’A July
General Electric (quar.)_______________
2
July
Goldllcld Consolidated Mines (quar.)___ 30c. July
Extra _____________ _______________ 20c. July
Gorham Manufacturing, preferred (quar.).
1% July
Guggenheim Exploration (quar.) (No. 34)
2% July
Great Lakes Towing, preferred (quar.)_.
H i July
Hart, Schaflncr & Marx. pref. (No. 1 )-.
( / ) July
Homestake Mining (monthly) (No. 439)
50c. lune
Ingersoll-Iland, preferred-------------------3
luly
Intercontinental Rubber, common (quar.)
1
Aug.
Preferred (quar.)_________ _____
H i June
Internal. Cotton Mills Corp. (quar.)--------1% filly
Ioternat. Harvester, com. (qu.) (No. 6).
1% luly
International Nickel, com. (quar.)..........
2% -iept.
Preferred (quar.)................ ...........
1% Aug.
International Silver, pref. (quar.)........ l ’A July
Preferred (extra)______________
M luly
Internat. Smokeless Pow. & Ch.com.(qu.)
’A fuly
Kansas Gas A Elec., pref. (qu.) (No. 5).
l ’A July
L t Belle Iron Works (quar.)............ ..
2% lune
Lanston Monotype Machine (quar.) —
1% Mine
2
La Rose Consolidated Mines (quar.)........
July
3
July
Lawyers' Mortgage (quar.) (No. 39)-----3
July
Louisville Gas.............................. .............
Mackay Companies, com. (qu.) (No. 24)
l H July
1
Preferred (quar.) (No. 30) — ...............
July
Manning, Maxwell A Moore. Inc. (quar.).
1% June
Massachusetts Gas Cos., com. (quar.)—
1
Atlg.
Massachusetts Lighting Cos. (qu.) (No.31)
l ’A July
May Department Stores, pref. (quar.)..
l ’A July
Mergcnthaler Linotype (quar.)________
2% June
Extra..........................................- .........
% June
Mexican Telegraph (quar.)____________
2% July
Michigan Light, preferred (quar.)______
1% July
Michigan State Telephone, pref,, (quar.)
1% Aug.
Mortgage-Bond (q u a r.).......... .......
1% Juno
National Biscuit, com. (qu.) (No. 51)-H i July
Natlonal Gas. El. L. & Pow., pref. (quar.)
H i July
Nat. Lead, oommon (quar.) (No. 30)-----’A June
National Licorice, pref. (quar.) (No. 30).
I X June
Natlonal Sugar, preferred (quar.).............
H i July
3
July
National Surety (quar.).............. - ...........
Nebraska Telephone (quar.)........................
H i July
Nevada Consolidated Copper Co. (quar.) 37 %c. June
New England Telep. A Teleg. (quar.).........
l ’A June
New Orleans Gas Light........ - ..................... 53
July
New York Air Brake (quar.)------------------H i July
3
N . Y. Mortgage A Security (quar.)..........
July
4
New York Mutual Gas Light____________
July
2
Niagara Falls Power (quar.).................. July
Nlptsstng Mines (quar.)............................
5
July
E xtra ................ .................................... . 2% July
North American Co. (auar.)____________
H i JulV
Nova Scotia Steel A Coal, com. (quar.)___
H i July
Preferred (quar.)____________ ________
2
July
Old Dominion Steamship (No. 71)_______
3
July
1
Otis Elevator, common (quar.)................
July
Preferred (quar.)___________________
H i July
Pacltlc Telep. & Teleg., pref. (quar.)----H i July
Pay-As-You-Enter Car Corp., pref. (qu.).
H i July
Phelps. Dodge & Co., Inc. (quar.).......... 2 'A Juno
Pittsburgh Plate Glass, common (quar.).
H i July
Pope M g.. pref. (quar.)_______________
H i July
Procter A Gamble, pref. (quar.)................
2
July
Quaker Oats, common (quar.)........ .........
2% July
Preferred (quar.).................. .................
I X Aug.
Realty Associates---------- -------------------3
July
Republic Iron & Steel. prcf.(qu.)(No.38)
H i July
Rhode Isl.-Perklns Horseshoe, pref. (quar.)
1
July
Royal Baking Powder, oom. (quar.)___
3
June
Preferred (quar.)_______________
H i June
Safety Car Heating & Ltg. (quar.)--------2
July
St. Joseph Stock Yards (quar.)_________
1 'A June
Scranton Electric, pref, (quar.)__________
H i July
Sears. Roebuck & Co., pref. (quar.)_____
H i July
Securities Com pany.................................. 2% July
Shawlnlgan Water A Power (quar.)..........
H i July
Sloss-Sheffleul Steel & Iron. pref. (quar.)
H i July
South Porto Rico Sugar, com. (q u a r.)...
1
July
Preferred (q u a r.)..................................
2
July
Spring Valley Water (quar.)...................... 60c. June
2
Standard Coupler, common......................
June
Preferred __________________________
4
June
2
Standard Gas Light, N. Y., common----June
3
1 Preferred________________________ ___
June
Books Closed,
Days.Inclusive.
15 Holders of rec. July 10a
15 Holders of rec. July 10a
6
15 June 24 to July
15 Holders of rec. June24a
J June 27d to July ‘id
1 June 23 to June 30
1 June 28 to
.......... .
1 June 18 to June 30
30 Holders of rec. June 20
1 Holders of rec. June20a
28 Holders of rec. June 8a
1 June 15 to June 30
10 July 1 to July 9
10 July 1 to July 9
1 Holders of rec. JuneI4a
15 July 1 to July 15
15 July 1 to July 15
1 Holders of rec. JunelOa
8 Holders of rec. June30a
1 Holders of rec. Junel2a
1 Holders of rec. Junel2a
30
30jJune 28 to June 30
1 June 15 to June 21
1 Holders of rec. June20a
1 Holders of rec. June20a
1 Holders of rec. June 24
1 Holders of rec. June 15a
1 Holders of rec. JunelSa
1 Holders of rec. Juncl5a
15 Holders of rec. Juno 30
15 Holders of rec. June 30
1 June 21 to June 30
1 Holders of rec. JunelOa
28 Holders of rec. June 24
28 Holders of rcc. June 24
15 Holders of rcc. June30a
30 Holders of rcc. June20a
1 Holders of rcc. JunelSa
1 Holders of rec. June 19
15 Holders of rec. July la
31 Holders of rcc. JulylOa
29 Holders of rcc. JulylOa
3 Holders of rec. June 20
1 Holders of rcc. June20a
1 Holders of rec. June20a
25 July 16 to July 25
30 Holders of rec. June 20
I Holders of rcc. May 3 la
1 Holders of rec. May 3 la
1 Holders of rec. May 3 la
30 Holders of rec. June30a
Holders of rec. July 27a
Holders of rcc. June 24
June 21 to July
2
Holders of rec. June21a
Holders of rec. June 21
Holders of rcc. May31a
Holders of rec. Junc30a
Holders of rec. Junc30a
Holders of rcc. June 23
lune 15 to July
2
if Holders of rec. June 15
Holders of rcc. June 25
_______
26 June 21 to
1 Holders of rec. Junel4a
1 luly
22 to July 31
30| Mine 21 to June 30
1 Holders of rec. June 29
15
1 Aug. 13 to Sept. 1
1 luly 13 to Aug. 1
1 June 17 to July 2
1 June 17 to July 2
1 Holders of rec. June20a
1 June 25 to July 2
3(1 Mine 23 to June 30
3(1 Holders of rec. June 23
2C July 1 to July 17
1 Holders of rcc. June 23
I d Holders of rec. June 22
1 Holders of rcc. JunelOa
1 Holders of rec. JunelOa
30 Holders of rec. June 30
1 Holders of rec. July 15
15 Holders of rec. July la
1 Holders of rcc. June20a
30 Holders of rec. JunelOa
30 Holders of rec. JunelOa
Holders of rec. June30a
Holders of rec. JunelOa
July 16 to
Aug. 1
Holders of rec. Juno 23
Holders of rcc. June28a
June 25 to July 2
June 10 to June 14
June 27 to July 2
Holders of rcc. June 20
June 21 to July 2
July 1 to July 10
June 17 to June 20
Holders of rcc. June20a
Holders of rec. June 30
Holders of rec. July 7a
Holders of rec. June 24
Holders of rec. Junc27a
Holders of rec. June30a
July 1 to July 17
July 1 to July 17
Holders of rec. Junel5a
June 21 to June 30
Holders of rcc June 30
Holders of rec . June 30
July 1 to July 15
July 6 to July 14
Holders of rcc . Juneloa
June 16 to July l
Holders of
Holders of
Holders of
Holders of
Holders of
Holders of
Holders of
Holders of
Holders of
rcc June30a
rcc . July la
rec . Aug. la
rcc . July 5
rec Junellia
rec July 1
rec JunelSa
rcc JunelSa
rec JuneHa
June 24 to
Holders of rcc.
July 1 to
Holders of rec.
Holders of rec.
Holders of rec.
Holders of rec.
June 17 to
June 25 to
June 25 to
Holders of rcc.
Holders of rec.
July 2
Junel5a
July 16
July 7
Junel7a
Junc21a
June21a
June 30
June 30
June 30
June 20
lim e 20
[VOL. LXXXXII.
Per
Cent.
Name of Company.
Miscellaneous (Concluded).
Standard Screw, common and preferred..
3
Subway Realty (quar.)........................
1%
Sulzberger & Sons Co., pref. (quar.)..
l ’A
Swift & Co. (quar.) (No. 99)________
l ’A
Union Switch A Signal, com. A pf. (qu.).
3
Texas Company (quar.)____________
2
Texas & Pacllic Coal (q u a r.)............
1%
Torrlngton Company, preferred_____
3%
Underwood Typewriter, com. (qu.)(N o.l)
1
Preferred (quar.)________________
1%
Union Bag & Paper, pref. (qu.) (No. 49).
1
Union Carbide (quar.)________________
2
Union Gas & Elec., Cin., pref. (annual).
6
United Gas & Elec, of New Jersey, pref..
2%
United Bank Note Corp., pref. (quar.)..
1%
United Cigar Stores. Corp. of (q u a r.)...
1%
Extra .................................. .................
%
United Fruit (quar.) (No. 48)_________
2
United Gas Improvement (quar,).........._
2
United Shoe Machinery, com. (quar.)___
2
Preferred (quar.)........................ .............
1%
U. S. Finishing, corn, (quar.) (No. 16) . .
1
Preferred (quar.) (No. 48)____ ______
l ’A
U. S. Light A Heating, preferred..............
3%
U. S. Printing of N . J . (quar.).................
1%
U. S. Printing of Ohio, pref. (quar.)____
l ’A
U. S. Smelt. Refg. A Mining, com. (quar.)
1
Preferred (quar.)....................
l ’A
U. S. Steel Corp., com.(quar.)(No. 30).1
1%
Utah Copper Co. (quar.) (No. 12)_____
75c.
Utah Gas A Coke, preferred (quar.)_____
l ’A
Va.-Caro. Chemical, pf. (qu.) (No. 63)..
2
Wells, Fargo A Co............ ....................
5
Welsbach Company, common........... I .I I .
2
Preferred — ...............................IIIIIII
3%
Western Electric (quar.)________II
2
Western Union Teleg. (quar.) (No. 169)1
’A
Wesllnghouse Air Brake (quar.)............ .
2 'A
E xtra...................................... I -I I I I I I I
1%
Special .................. ................................
1
Westlnghouse El. & Mfg., pref. (quar.jll
l ’A
tukon Gold Co. (quar.) (No. 8 )............
2
When
Payable.
July
July
July
July
July
June
June
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
June
June
July
July
July
June
June
June
July
July
July
July
July
June
Books Closed.
Days Inclusive.
1 Holders of rec. Juncl5a
1 Holders of rcc. June24a
1 June 16 to June 30
3 Holders of rec. June 10
16 July 1 to July 10
30 Holders of rec. Junel5a
30 June 18 to June 30
1 June 21 to June 30
I Holders of rec. June 20a
1 Holdersof rec. June 20a
15 Holders of rec. June30a
1 June 17 to June 30
1 June 26 to June 30
15 July 1 to July 14
1 June 16 to July 2
15 July 2 to July 16
15 July 2 to July 16
15 Holders 01 rec. June24a
15 Holders of rec. June 30
5 Holders of rcc. June22a
5 Holders of rcc. June22a
1 Holders of rec. June 20
1 Holders of rec. June 20
20 Holders of rcc. June 30
1 June 22 to July 2
1 June 21 to July 2
15 Holders of rec. June 30
15 Holders of rcc. June 30
29 June 2 to June 12
30 June 17 to June 20
1 June 27 to June 30
15 June 18 to July 19
15 July 6 to July 16
30 Holders of rec. June 24
30 Holders of rec. June 24
30 June 25 to June 30
15 Holders of rec. Junc20a
11) July 1 to July 10
10 July 1 to July 10
10 July 1 to July 10
15 Holders of rec. June30a
30 June 13 to June 30
“ 1Jia oSi,erTl)i00£? hot closed, b Less Income tax. (/Correction, e Declared 4% ;
payable 2% July lo 1)11 and 2% Jan. 15 1912. / A t rate of 7% per annum for period
Nov. W o hol«le°rs ofrcc6rd9O ct°2!CClarCd
eXtm ° n C° mm0n 8t0Ck> payable
National Banks. rlhe following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
C H A R T E R S ISSU ED TO N A T IO N A L B A N K S JUNE 9 TO JU NE 13.
10.030—
The First National Bank of Dexter, Iowa. Capital $25 ooo"
F . F. Winsell, Pres.; B. C. Hemphill. V .-P res.; M. F . Palmer
•
Cashier; P . C. Monroe, Asst. Cashier.
.
10.031—
The National Bank of Commerce of Coweta, Okla. Capital. $25,
000. George Lewis, Pres.; E . I). Peden, V .-P res.: E . E . Lewis,
Cashier; Pearl H opping, Asst. Cashier.
10.032—
The First National Bank of Tyrone, Okla. Capital, $25,000.
•
• • W . N . W right, Pres.; E . O. L ove. V .-P res.; Guy S. Spcakman,
• Cashier: Fred Spcakman, Asst. Cashier.
..........................
CH AN GE OF C H A R T E R N U M B E R .
2,712— The First National Bank of McConnelsvIlle. Ohio, to N o. 4 6,'th o
latter being the original charter number.
.................
V O L U N T A R Y L IQ U ID A T IO N .
7.936— The National City Bank of W ashington. D . C .. May 1 1911.
Canadian Bank Clearings.— The clearings for the week end
ing June 17 at Canadian cities, in comparison with the same
week of 1910, show an increase in the aggregate of 3 1.1%.
Week ending June 17.
1911.
Canada—
Montreal _____________
Toronto_______________
Winnipeg........................
Vancouver......................
Ottawa .................... .......
Quebec_______________
Halifax.................... .......
Hamilton_____________
Calgary ..........................
Victoria_______________
St. John______________
London ______________
E dm onton____________
R egina-----------------------Brandon---------------------Saskatoon_____________
Moose Jaw-----------------Lethbridge.............. .......
Brantford - .................. .
1910.
Inc. or
Dec.
1909.
1908. '
$
S
s
%
53.125.525 37.367.952 + 42.2 38,280,681 26,618.289
37.151.022 28.420.150 + 30.7 29.528.796 20,563.677
20.289.166 15.677.525 + 29.4 11,722.000 8,862,144
10,761.067 8,364.044 + 28.7 4,814,913 3,337!082
3,986,070 3,157.503 + 26.2 2.928.143
2,725,800
2.572,539 2.346,170
+ 9.6 2.364.642
1.980,311
1.525.275
1.849.622 — 17.5
1.942.782
1,790.883
2.552.743
1.859.327 + 37.3
1,899,123
1.435.137
3.607.516 2.708.048 +33.2
1.678.142
1.076.083
2.727.967
1.867.060 +46.1
1.311.518
974.130
1,440.155
1.310.453
+ 9.4
1.247,957
1,100,225
1.397.032
1.291,128
+ 8.2
1,142,253
1.085.565
2.569.587
1,372,640 + 87.2
1,162.012
648.671
1.849.375
871.759 + 112 1
558.631
486.484 + 14 8
1,265.000 Not Include d In tot
1j 1
720,000 Not Include d In tot al.
558.000 Not Include d In tot
|fl
649.000 Not Include cl 111 tot al.
Total Canada.............. 146.113.670 108,955.865 +34.1 100.022.962 72.197.997
regularly dealt in at the Board, were recently sold at auction
in New York, Boston and Philadelphia.
By Messrs. Adrian H. Muller & Sons, New York:
Shares.
Per cent.
150 Herbert L. Brown Co.............. $100
26 Stroefcr Realty Co.. $10 each.$260
10 Commercial Tr. Co. of N. Y . . . 106
25 First Nat. Bank. N. Y .......... 999%
15 Long Island Loan & Tr. Co___ 319%
100 Broadway Trust Co................ .149
Shares.
Per cent.
$200 The Atlantic Yacht Club
Bklyn., 2d 5s, 1913. M. <t N. $5()’& Int.
$1,000 City of N. Y. 3s consol stk
1920. Tax-exempt.......... 91% & |nt.
$1,000 Chamb. of Commerce, City
N. Y., bldg, fund 3 s . ..
25
$1 000 City of N. Y. 3%s. tax-ex‘Bonds.
Per cent.
empt, 1 9 1 8 ................. ......... 90 & mt.
314.000 United Breweries Co. of
$4,000 City of N. Y. 3%s tax-ex
Chic.. III., 1st 6s, ’28. F. & A .65 & Int.
empt. 1954. M. <t N..........88% & int.
$3,000 II. L. Brown & Co., Inc..
S2.000 City of N. Y. 3%s, tax-ex
1st 6s. 1919. A. < t O . Oct.
empt. assess’t bonds, 1914. M.
1910 coupons attached............ $100
& N .................................... 98% & Int.
$1,000 Crescent Athletic Club,
$1,000 City of N. Y. 3%s, tax-ex
Ilklyn.. 2d 5s. 1923. M. & N.
empt. 1927. M. & N .......... 92% ,t Int.
65% & Int.
$2,000 City of N. Y. 3%s. tax-ex
$200 The Hanover Club of Bklyn.
empt. 1916.-.......... ........... 97% A Int.
1st 6s. 1920. Jan. 1909 coupons
$11,000 N. O. & Gt. Nor. lilt. Co.
o n __________________________$36
1st 5s, 1955. F. & A ______ 73 & Int.
$100 Oxford Club of Bklyn. 1st 5s.
$2,500 Cent. Indiana Ltg. Co. 1st &
1914. J. & D..............-.$25 &lnt.
ref. 5s. 1927. M. & N.......... 50 & Int.
By Messrs. Francis Henshaw & Co., Boston:
Shares.
$ per sh. IShares.
$ per sh
10 Merrimack Mfg. Co., pref-------100% 57 Plymouth C<r lage Co..258%-260 '
200 Municipal Heal Est. Trust........ 100%| 50 Essex Co.. $50 each................... 190%
THE CHRONICLE
J u n e 2 i 1911. i
By Messrs. R. L. Day & Co , Boston:
S per sh.
Shares.
$ per sh. Shares.
3 Lawrence Gas Co................. ...2 0 7
17 Merchants’ Nat. Bank----- 274-275
8 Harvard Trust Co. (Camb’ge).170H 20 Mass. Bonding & Ins. Co.......... 156
7 VV. H. MeKlwain Co., lstp fd -.1 0 3H
5 Great Falls Mfg. Co............... --188H
10 Quincy Mkt. Cold Stor. &
2 Atlantic Cotton Mills----------------51H
VV. H. Co. rights_____________ 13
3 Franklin Co. (Lewiston, M e.)..151Ji
1 Cent. Vermont lilt. Co............ OH
4 Continental Mills-------------------101
$36
do
do
scrip_________ 9
1 Nashua Mfg. Co., S500 par----- 625
By Messrs. Barnes & Lofland, Philadelphia
Shares.
$ per sh.
12 Salem (N. J.) Nat. Bkg. Co.,
$50 each.......... ....................-170
14 First Nat. Bank, Philadelphia.230
10 Third National Bank.......... ..... 250
10 Tradesmen’s Trust Co............... 112H
44 West Phi la. Title <fc Trust Co..
$50 each__ _____ _________ 124 %
1 Provident Life & Trust Co------821
3 Girard Trust C o .- - ............ ..... 951
4 Assets Realization Co., com____30H
1 Commonwealth T. I. & T r___ 245
5 Chclten Trust Co., $50 each__ 70
20 Continental T. & T.Co.,S50 ea. 47 H
3 Phila. Co. for Guar. Mtgcs____ 154H
20 Commercial Trust Co_________ 375
10 Equitable Trust Co................... 100 M
3 Real Estate Trust Co., pref___100H
3 Mutual Trust Co., $50each___ 40
10 Fidelity Trust Co............... -,950-951
100 Falrm. ParkTransp., $50 each. 854
100 Ohio Traction Co., co m ..............5054
100 Easton Con. Elec. Co.. $50 each 21
10 Cltlzens’ (10th&llth)Pass.Ry--298
4 Fkd. & Southwark Pass.Ity.Co.381
10 People’s Nat. Fire Ins. Co., $25
each ........................................ 35
5 Delaware Insur. Co., $10 each. 25
200 Waterbury Gas Lt. Co., S25 ea. 00
75 Hudson County (N. J.) Gas Co. 137
25 Equitable 111. Gas Lt. Co., pref. 10954
31 Essex & Hudson Co. Gas C o ... 140H
52 .1. G. Brill Co., pref---------- 93H-9354
30 Everett Ry. & Lt. & Water Co. 60
4 American Pipe <k Construe. Co. 94
25 John Wyeth & Bro., Inc--------- 200
4 John B. Stetson Co., com ------- 500
20 Warren Bros.Co.,lst pf.,$25 ea. 39
3 Phtta. Bourse, pref., $25 each. 8H
4 Plilla. Bourse, com., $50 each. 454
275 Bering Shore Mining Co., pref..
$1 each..............................$48 lot.
Shares.
S per sh.
5 Salcm(N.J.)Ccm.Assn.,S25 each. 44
500 Danville Bessemer Co.,$1 50ea.$5 lot
18 Lake Park Cemetery Co., $50 ea 25
Bonds.
Per cent.
$5,000 So. Bend & Mishawaka Gas
Co. cons. 5s, 1926.................. — 90
$2,000 Altoona (Pa.) Gas Co. 1st 5s,
1932.........
9754
$5,000 Wllm. & Chester Trac. C. T.
5s, 1 9 1 8 .................................. 9354
$10,000 Altoona & Logan Elec. Ry.
Co. cons. 4Hs. 1933----------------- 91
$5,000 Boro, of Carnegie gen. Imp.
4s, 1935..........
9254
$5,000 Boro. McKee’sRocks 4s.1928 9454
$10,000 Pitts. McKeesp. & Con. Ry.
cons. 5s, 1931.............................. -10154
$240,000 Iron Clad Manufacturing
Co. 0s, 1935----------------------$10,000 lot
$2,000 Springfield Cons. Water Co.
1st 5s, 1958........................ - ......... 90
$3,000 Bethlehem City Water Co.
1st 5s, 1934____________
86
$6,000 Everett Ity., Lt. & Water
Co. 1st 5s. 1925.......................... 76
$1,000 Springfield Water Co. cons.
5s, 1920...........
100
$1,000 N. Springfield Water Co. 1st
5s, 1928.............. - ....................V 100
$5,000 Union Elec. Tel. & Tel. Co.
1st 5s, 1922.............................
27
$5,000 Chattanooga Itys. Co. cons.
5s, 1950. ...................................... 9354
$1,000 Allentown & Kutztown Trac.
1st 5s. 1930........ ......................... 8754
$2,000 I’ hlla. Sub. Gas & Elec. 1st
5s, 1960.......................................... 92
$ 1,000 The Netherlands Co. deb. 6s,
1925................................................ 00
By Messrs. Samuel T. Freeman & Co., Philadelphia:
Per cent.
Shares.
$ per sh. Bonds.
$100 Phila. 3s, 1912, J. & J ----- 9754
15 Delaware Ins. Co., $10 each----- 23 54
$1,000 Cam. & Sub. Ry. 5s, 1946,
14 Frank.&S’ warkPas.Ry.,S50 ea_380
J. & J ........ ............................... 104 54
4 Nat Bank of Nor. Liberties........ 219 54
$11,000 Hest. Man. & Fair. Pass.
1 Real Est. Trust Co., p r e f...........99
Rv. 5s, 1924, M. * N ............ .10154
$200 Sp’gfleld Wat .Co. 5s, '2 6 .. 100
Bonds.
Per cent.
$500 No.Sp’gfleld Wat.Co.58.'28 100
S3,000 Plilla. 354s, 1934. J. & J -- 9154
Statement of New York City Clearing-House Banks and
Trust Companies.— The detailed statement below shows the
condition of the New York City Clearing-House members
for the week ending June 17. The figures for the separate
banks are the averages of the daily results. In the case of
the totals, actual figures at the end of the week arc also given.
T h e r e tu r n s o f the tru st c o m p a n ie s a re in c lu d e d f o r the f i r s t
tim e , b u t w e show th e ir f i g u r e s i n a sep a ra te tab le.
_
For definitions and rules under which the various items are
made up, see “ Chronicle,” V. 85, p. 836 in the case of the
banks, and V. 92, p. 1607, in the case of the trust companies.
DETAILED RETURNS OF BANKS.
We omit two ciphers (00) In all cases.
Capital.
Banks.
00s omitted.
Bank of N.Y
ManhattanCo
Merchants’ - Meeh.A Met.
America----City..............
Chemical . . .
Merch. Exch
Gallatin----Ilutch& Drov
Greenwich . .
Amer. Exch.
Commerco . .
Mercantile -
Pad l i e ___
Chath.& Ph
Peoplo’B ----Hanover___
Citizens Cent
Nassau . .
Market ftFult
Metropolitan
Corn E xch ..
Imp. & Trad
P ark............
East River..
Fourth........
S econd------F irst............
Irving Exch.
Bowery -N. Y. County
German-Am.
Chase..........
Fifth Avenue
German E x.
Germania
Lincoln------Garfield —
Fifth ........
Metropolis - .
West Side.. .
Seaboard —
Liberty____
N.Y.Prod.Ex
State............
14th Street.Coal & Iron
Union Exch.
Surplus.
Loans.
Average.
$
$
3.680,6 20,011,0
4.413.4 34,000,0
1,951,8 21.468.0
8,230,1 55,118,0
0,134,4 26,913,0
34,705,9 177,680,0
0,641,0 32.301,0
7.248,0
579,5
8,650,0
2.506.5
2.212,0
8,144 0
4,416,4 43.490,0
15,161,7 149.421.0
2,727,2 14,480,0
4,007,0
15,467,0
1,673,0
73,066,0
22.768. C
9,032.0
8,885,0
1.788.8
1,572,3 10,527.0
5.557.8 50,449,0
27,082,0
85,106,0
1,461.0
5,675.3 37,223.0
2,244,9 13,809,0
20,906,7 126,031,0
24,083.0
3,396,0
8,103,0
4,070,0
717.7
8,440.1 81,155,0
12,491,0
3,677,0
5,764,0
14.023,0
8,697,0
3.415.C
13,463.0
4,357,0
2,019,3 22.401.1
2,717,7 20,433.0
8,747,0
15,731.(
5,355.0
326,7
6,466,0
9.674,0
S
$
956,0 18,460,0
1,558,0 40,700,0
1,374,0 22,365,0
1.638,0 54,489,0
2,114,0 27.617.0
6,700,0 184,030.0
1,580,0 31,850,0
7,505,0
114,0
6,873,0
452,0
74,0
2,511 0
0,096,0
170,0
3,892,0 44,177,0
8,635,0 135,670,0
1,005,0 1 1,281,0
3,259,0
403,0
1,411,0 14,870,0
150,0
2,250.0
4.052,0 83,797.0
325,0 22,183,0
1,648,0 10,545,0
758,0
8,773,0
251,0 10,534,0
5,319,0 60,280.0
1,635,0 24,828.0
1,334,0 89,575,0
108,0
1.703.C
2,810,0 40,924,0
143,0 13,909,0
2,019,0 136,394,0
2,120,0 25,975,0,
63,0
3,530,0
716,0
8,141,0
210,0
3,914,0
6.458,0 89,318.0
1,030,0 13.833,0
565,0
3,608.0
603,0
6,823,0
1,016,0 15,910,0
456.0
8.974.0
326.0
3,751,0
1,872.0 14,018,0
224,0
5,303,0
2,078,1 26,518,0
1,443,0 21,775,0
368,0 10,496.0
343.0 20,238,0
692.0
6,953,0
618.0
6,785.0
1,549.0
9,830,0
%
26.0
27.5
20.0
26.5
26.1
34.5
27.9
25.0
25,6
27.7
25.0
26.3
29.2
25.1
25.6
25.4
27.4
26.5
25.8
25.2
20.2
26.1
25.0
25.7
20.0
27.4
25.8
26.8
32.6
25.6
24.7
26.4
26.4
25.7
25.2
24.5
25.7
31.6
27.2
26.4
25.4
25.6
26.5
25.5
20.0
25.4
25.8
2.3.8
25.2
Totals, Avge 134,150,0 200,877.3 1364.429,0 326.159,o]76,278,0 1420,219.0
28.14
1 3 7 5 ,1 5 2 ,0 3 2 6 ,0 0 7 ,o j7 6 ,2 9 1 ,0 1 4 3 8 ,2 7 4 ,0
2 8 .2 0
Actual figs. June 17.
Cir culatlon. —On the basis of averages, circulation of national banks In the
Clearing House amounted to $45,393,000, and according to actual figures they were
$45,545,000.
DETAILED RETURNS OF TRUST COMPANIES.
Trust Cos. Surplus.
00s omitted.
On dcp.1 Net
Specie. Legate. with C.U\ Deposits.
Average. Average. Banks. Average.
Loans.
Average.
S
S
S
s
1
19,057,0 1,996,0
50,0 1,758,0
17,093,0 2,069,0
517,0 1,945,0
526,0 9,145,0,
81,092,0 8,769,0
40,828,0 3,248,0
840,0 4,455.0
30,0 1,578,0
1,797,0
15,159,0
33,979,0 2,087,0 1,561,0 3,000,0
130,991,0 11,043,0 1,255,020,918,0
62.831.0, 6.365.0,
11,0 5,098,0
19.926.0. 1.545.0,
726.0 1,782,0
15.906.0 1.516.0
100.0 1,308,0
17.136.0 2,197.0'
11,0 2, 347.0
406.0 1, 930.0
17.234.0 2.440.0
51.069.0 5,490,0’
140.0 3. 664.0
276,0, 1, 247.0
12.287.0 1.430.0
9,674.0 1.224.0
227.0 1, 086.0
S
2,331,4
2,397,2
6,529.9
4,446,4
1,043.1
11,429,9
q
Reserve.
S
%
14,394,0 14.2 + 10.8
13,855,018.7 + 11.4
61,945,0 15.0+12.8
27.383,014.9+13.6
12,177.0 15.0+ 9.2
23.777.015.4 + 11.1
82.831,014.8+20.1
41.776.0 15.2+10.8
14.669.0 15.4 + 10.7
10,761,015.0+10.8
16,249,013.5 + 12.6
10,559,017.1 + 10.2
34,443,010.3+ 9.6
11.050.0 15.4 + 10.0
9,009,0 16.1 + 10.7
550.262,0 53,216.0 6.676.0 61,267,0( 390.878.0 15.3 + 15.7
1,65,351,0 393.745.0
June 17. 554,644,0 57,939,0 6.718.01
The capital of the trust companies Is as follows: Manhattan, $1,000,000; Brook
lyn, $1,000,000; Bankers, $3,000,000; U. S. Mtgc. & Trust, $2,000,000; Astor,
SI,250.000; Title Guar. & Trust, $4,375,000; Guaranty, $5,000,000; Mercantile,
$2,000,000; Lawyers Title Ins. & Trust, $4,000,000; Columbia, SI.000,000; Stand
ard, SI.000,000; People’s. $1,000,000; New York. S3,000,000; Franklin, $1,500,000;
Lincoln. SI.000,000; total. S32,125,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Week end'g
June 17. Capital. Surplus.
Loans.
Specie.
On Dcp’t
Net
Legal withC.-H.
Deposits.
Tenders. Banks.
Averages
B an ks__ 134,150,0 200,877,3 1,364,429,0 326,159,0 75,278,0
1,426,219,0
Trust cos. 32,125,0 82,939,1 550.262,0 53,216,0 6,676,0 61,267*0 390,878,0
Total . . 166,275,0283,816,4 1,914,691,0 379,375,0 81,954,0 61,267,0 1,817,097,0
Actual
______ 1,438,274,0
1.375,152,0326,007,6 76,291,0
B an ks__
Trust cos.
...........
.......... 554,644,0 57,939.0 6,718,0 65.351,0 393,745,0
83,009.0 65,351,0 1,832,019,0
Total - .
.......... 1,929,796.0,383,946.0
...........
The State Banking Department also furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
For definitions and rules under which the various items are
made up, see “ Chronicle,” V. 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
State Banks
Trust Cos.
State Banks
Trust Cos.
outside of
In
in
outside of
Greater N. Y. Greater N . Y . Greater N . Y. Greater N . Y.
Week ended June 17.
Capital as of Feb. 28___
Surplus as of Feb. 28-----
Specie. Lcgals. Net Dcpos- Reserve.
Average. Average. its, Avge.
S
3,856,0
9,672,0
4,446,0
12,839,0
5,116,0
56,883,0
7,331,0
1,778,0
1,316,0
626,0
2,106.0
7,738,0
31,013,0
1,834,0
434,0
2,374,0
460,0
18,214,0
5,403,0
1.021.0
1,550,0
2,503,0
9,700,0
4,743,0
22,000,0
359.C
7,762,0
3,609,0
42,415,0
4.543,0
818,0
1,435.0
824,0
16,574,0
2,482,0
320,0
1,252,0
4,018.0
1.985,0
664,0
1.696.0,
1,134,0
4,968,0
4.124.0
2,369,0
4,807.0,
1,107,1
1,000,0
932.01
1683
Loans and Investments..
Change from last week.
38,886,100
175,811.500
11,274,643
11,328,963
294,696,900 1,125.374.100
+3,442,900 —6,938,100
96,435.500
+490,600
149,382,800
+ 116,100
..................
__________
352,420.100 1,242,874,000
+3,140,200 + 7.930,200
102.634.800
+ 9,200
158,402,600
— 1,231,800
135,468.600
—2,645,500
22.084,000
—294,800
23,663,200
— 1,368,100
52,473,300
+ 1,024,900
115.410,600
—2,538.500
Legal-tenders & bk. notes
Change from last week.
23,590.500
+ 18,800
11,357,300
—210,900
Reserve on deposits____
Change from last week.
P. C. reserve to deposits.
Percentage last week..
$
9,525,000
$
63,206,000
‘ Change from last week.
Change from last week.
$
9.528.000
$
23,975,000
102,066.400
—700,300
16.4%
16.6%
29.1%
29.6%
22.4%
22.7%
15.6%
16.3%
+ Increase over last week. — Decrease from last week.
Note.—"Surplus” Includes all undivided profits. “ Reserve on deposits” Includes,
for both trust companies and State banks, not only cash Items but amounts due
from reserve agents. Trust companies In New York State are required by law to
keep a reserve proportionate to their deposits, the ratio varying according to
location as shown below. The percentage of reserve required Is computed on the
aggregate of deposits, exclusive of moneys held In trust and not payable within
thirty days, and also exclusive of time deposits not payable within thirty days,
represented by certificates, and also exclusive of deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations of the State or City
of New York owned by the bank or held In trust for It by any public department.
The State banks are likewise required to keep a reserve varying according to
location, the reserve being computed on the whole amount of deposits exclusive
of time deposits not payable within thirty days, represented by certificates (accord
ing to the amendment of 1910) and exclusive of deposits secured (according to
amendment of 1911) by bonds or obligations of the City or State of New York, and
exclusive of an amount equal to the market value (not exceeding par) of bonds or
obligations of the State or City of New York owned by the company or held in trust
for It by any public department.
—Trust C o s . —
—State B a n k sReserve Required for Trust C o m p a n ie s
Total
Of
Total
Of
and State Banks.
Reserve
which Reserve
w h ic h
Location_
Required In Cash.Required, in Cash,
Manhattan Borough__________________________ 15%
15%
25%
16%
Brooklyn Borough (without branches In Manhat.) 15%
10%
20%
10%
Other Boroughs (without branches In Manhattan) 15%
10%
15%
7H %
Brooklyn Borough, with branches In Manhattan. .15%
16%
20%
20%
Other Boroughs with branches In Manhattan----- 15%
15%
15%
15%
Elsewhere In State. -
-
- -
—
—
10%
6%
15%
6%
The Banking Department also undertakes to present sepa
rate figures indicating the totals for the State banks and
trust companies in the Greater New York n ot i n the C le a r in g
H ou se.
These figures are shown in the table below, as are
also the results (both actual and average) for the Clearing-
1684
T H E C H R O N IC L E
House banks and trust companies. In addition, we have
combined each corresponding item in the two statements
thus affording an aggregate for the whole of the banks and
trust companies in the Greater New York.
T h e fig u r e s f o r this week show v e ry large changes as com pared
w ith those f o r last week because the reports o f trust com p a n ies
are in clu d ed with C lea rin g -H o u se banks f o r the f i r s t tim e.
T h es e large d ifferen ces d isa p p ea r in the last colu m n .
NEW YORK CITY BANKS AND TRUST COMPANIES,
Clear.-House
Clear .-House State Banks A Total o f alt
Members.
Trust Cos. not BanksA Trust
AclualFigures
Average.
in C.-H. Aver. Cos. Average.
Week ended June 17—
M em bers
Capital as of June 7 - . .
$
166,275,000
$
166,275,000
S
*39,606,000
Surplus as of June 7 - - -
283,816,400
283,816,400
*101,416,100
$
205,881,000
385,232,500
Loans and Investments 1,929,796,000 1,914,691,000
656,104,800 2,570,795,800
Change from last week + 571,994,600 + 562,277,500 —556,857,800
+ 5,419,700
D eposits.............. ....... 1.832,019,000 1,817,097,000 a645,857,700 2,462,954,700
Change from last week + 419,053,200 + 410,767,000 —526.599,300 —115,832,300
383,946,000
Change from last week + 66,632,000
379,375,000
+ 63,866,200
67,824,300
—55,871,900
447,199,300
+7,994,300
Change from last week
83,009,000
+7,295,700
81,954,000
+ 7,040,100
612,412,000
—6,985,400
94,366,000
+ 54,700
Banks’ cash In vault-.
402,298,000
401,437,000
13,360,400
414,797,400
Trust Cos.cash In vault
64,657,000
59,892,000
66,875,900
126,767,900
Aggr’ te money holdings 466,955,000
461,329,000
Change from last week + 73,927,700! + 70,906,300
Money on deposit with
other bks. & trust cos.
65,351.000
01,267,000
Change from last week + 65.351,000 + 61,267,000
80,236.300
—62,857,300
541,565,300
+ 8,049,000
23,563,700
—4,170,200
84,830,700
+57,096,800
Total reserve............
532,306,000
522,596,000
Change from last week +139.278,700 + 132,173,300
74,301,250
% of money holdings to
deposits for bks. alone
28.20%
% of cash res’ves of tru St cos. —
Cash In vault..............
16.42%
Cash on dep. with bks.
1 ' .23%
T o ta l_____________
30.65%
Aggr’te reserves to ag
gregate deposits___
29.05%
Aggr’ te money hold’gs
to aggr’ te deposits..
25.48%
103,800.000
—67,027,500
626,396,000
+ 65,145.800
68,321,750
28.14%
27.74%
15.32%
13.55%
28.87%
16.55%
2.15
18.70%
28.75%
18.9%
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We omit two ciphers In all these figures.
April
April
April
May
May
May
May
June
June
June
1 5 ..
2 2 ..
2 9 -.
6 ..
1 3..
2 0 ..
2 7 ..
3 ..
1 0 ..
1 7 ..
S
2.496.582.8
2.507.058.1
2.513.422.9
2.514.961.3
2.518.309.7
2.541.441.4
2.548.862.8
2.558.152.1
2.565.375.5
2.570.795.8
Deposits.
$
2.495.710.0
2.514.816.5
2.527.964.5
2.526.363.1
2.533,056,3
2.558.748.7
2.567.915.5
2.570.202.0
2.578.787.0
2.462.954.7
Specie.
$
419.947.1
429.951.0
436.126.7
433.695.8
436.015.2
440.383.8
442.476.3
435,941,5
439.205.0
447.199.3
Legate.
3
94.075.5
93,354.9
94.814.3
93.712.6
94.377.0
94.383.3
95.268.6
94.155.1
94.311.3
94,366,0
%
514.022.8
523.305.9
530.941.0
527,408,4
530.392.2
534.767.1
537.744.9
530,096.6
533.516.3
541.565.3
$
538.093.6
547.242.3
555.117.3
553.291.4
557,340,3
561.884.7
561.758.2
557,990,9
561.250.2
626,396,0
We omit two ciphers (00) in ail these figures.
Banks.
Capi
tal.
N. Y. City
Boroughs of
Man.ABrx.
$
Wash. H’ ts
100,0
Century __
250,0
Colonial__
400,0
Columbia . .
300,0
Fidelity . . .
200,0
Jefferson__
500,0
Mt. Morris.
250,0
Mutual___
200,0
P la z a .........
100,0
23d W ard..
200,0
Yorkvitle . .
100,0
New Neth'd 200,0
Bat.Pk.Nat.
200,0
Aetna Nat.
300,0
Borough of
Brooklyn.
Broadway
200,0
Mfra.’ Nat.
252,0
Mechanics’ . 1,000,0
Nassau Nat.
750,0
Nat. C ity..
300,0
North Side.
200,0
First N a t..
300,0
Jersey City.
400,0
First N a t..
Hud.Co.Nat 250,0
Third N at..
200,0
Hoboken.
First N a t..
220,0
Second Nat.
125,0
Sur
plus.
*
$
282,0 1,385,0
148,9 1,511,0
402,8 5,668,5
762,4 6,477,0
183,2 1,048,9
521,5 3,878,9
334,4 2,695,4
387,2 3,675,0
460,9 4,079,0
107,4 2,038,1
492,8 4.426,0
271,8 2,394,0
143,8 1,349,5
309,2 2,141,7
Legal 1 Deposit with
Tender
Specie. and
Clear
Other
Net
Bank
ing
Banks,. Deposits.
Notes. Agent.
Ac.
5
140,0
44.8
806,9
686,0
55,8
256,5
494,0
21,0
331,0
173,2
49,9
258,0
281,0
484,3
$
47.0
214,2
442,7
637,0
116,0
479,8
52,0
602,0
361,0
59,6
861,9
86,0
51,2
38,3
I
151,0
159,3
623,9
957,0
395,0
248,1
552,9
465,0
1,397,0 •
260,0
205,8'
373,0
166,7
98,7
j
17,0
295,4
200,1
65.0
____
544.8
73.9
........
____
___ |
436,9
35,0
........
23,5
$
1,354,0
1,737,0
7,991,5
7,688,0
1,110,4
5,157,5
3,625,6
4,379.0
5,586,0
2,340,8
5,822,4
2,848,0
1,436,7
2,207,0
538,6 3.257,7
856,7 5,702,9
853,1 12,351,5
1,061,3 7,753,0
598,0 4,041,0
150,8 2.180.4
641,2 3,648,0
45,1 451,4
641,8
179.0
245,0 1,450,5
710,0 355,0
73,0 575,0
131,1
124,3
350,0
94,0
307,6
1,132,8
1,456,0,
1,379,0:
618,0
193,3
421,0
312,1 3,793,0
136,3 6,608.0
209,0 15,634,5
8,262,0
197]6 5,120,0
87,8 2,461,8
44,0 3,390,0
1,287,6
775,1
411,2
5,273,5
3,049,3
2,223,6
289,3
161,6
58,3
360,9
55,3
97,8
4,342,2
259,6
389,8
414,0
314,8
24,2
9,149,1
2,915,6
2,406,9
632,4
277,9
3,668,6
2,959,0
138,5
183,1
32,7
37,7
200,5
72,3
111,5
244,4
387,9
3,375,1
Tot. J’ ne 17 7,497,0 12,892,2 99,876.5 7,109,2 7,862,3 16,825,5 3,786,7 119788,7
Tot. J’ ne 10 7,497,0 12,799.7 99,634,5 7.242,2 8,231,4 14,972,3 3,963,7 118545,5
Tot. J’ne 3 7,497,0 12,799,7 99,094,9 6.932,1 7,817,0j 14,831,3 4,056,9 117400,6
Banks.
Boston.
May 2 7 ..
June 3 - .
June 10-.
June 17-.
PMIft
May 2 7 -.
June 3 . .
June10-.
June 17. .
Capital
and
Surplus.
Loans.
Specie,
Legals. Deposits, a Circu
lation.
$
41.350.0
41.350.0
41.350.0
41.350.0
$
217.771.0
218.728.0
219.280.0
219.543.0
S
26.113.0
25.382.0
25.723.0
26.724.0
%
3.624.0
3,466;0
3.401.0
3.306.0
60.105.0
60.105.0
60.105.0
60.105.0
268.707.0
268.282.0
270.282.0
273.436.0
83.482.0
87.441.0
87.485.0
88.061.0
Clearings.
$
266.993.0
270.600.0
268.087.0
275.285.0
$
7.116.0
7.118.0
7.122.0
7.123.0
S
145,275,1
147,950,7
157.443.6
144.499.7
331.760.0
339.444.0
337.662.0
343.577.0
15.309.0
15,301,0
15.298.0
15.279,0
139,184,6
173.728.4
163,565,1
153.894.4
a Includes Government deposits and the Item “ due to other banks.” At Boston
Government deposits amounted to $3,070,000 on June 17, against $3 068 000 on
June 10.
Imports and Exports for the Week.— The following are
the imports at New York for the week ending June 17; also
totals since the beginning of the first week in January.
FOREIGN IMPORTS AT NEW YORK.
For Week.
1911.
Dry Goods..........................
General Merchandise.. . .
1910.
$2,163,127 i
13,423.176
|
$2,441,679
15,900,608
1909.
1908.
$2,496,634
13,259 358
SI,657,692
8.473,108
T o ta l...... ............. .......... .. $15,586,303 $18,342,287 $15,765,992
Since January 1.
Dry goods________________ S66,196,258 574.708,995 $79,748,839
General Merchandise............. 340,794,092 | 371,614,445 326,349,566
Total 24 weeks.................. $406,990,350 8446,323,440 $406,098,405
'
1
$55,282,858
231,027,375
$10,130,800
$280,310,233
EXPORTS FROM NEW YORK.
1911.
For the week..........................
Previously reported..............
1910.
1909.
1008.
$14,867,568 315.693,972 $13,128,455 $11,533,436
350,254,925 283,344,161 278,943,353 306,255.705
Total 24 weeks.................. $365,122,493 $299,038,133 $292.071,808|$317,789,201
The following table shows the exports and imports of
specie at the port of New York for the week ending June 17
and since Jan. 1 1911, and for the corresponding periods in
1910 and 1909:
•
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
'.Tot. Money Entire Res,
Holdings. on Deposit.
Reports of Clearing Non-Member Banks.— The following is
the statement of condition of the clearing non-member banks
for the week ending June 17, based on average daily results:
Loans,
Disc'ls
and
Invest
ments.
____________________WeomUtwo ciphers (00) in aU these figures.
25.41%
The averages of the New York City Clearing-House banks
and trust companies com bined with those for the State banks
and trust companies in Greater New York outside of the
Clearing-House compare as follows for a series of weeks past:
Loans and
Investments.
Boston and Philadelphia Banks.— Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending June 17 and from Jan. 1 to date:
25.38%
12.42%
21.98%
+ Increase over last week. — Decrease from last week. * As of Feb 28
a These are the deposits after eliminating the Item “ Due from reserve depositories
and other banks and trust companies In New York City” ; with this item Included"
deposits amounted to $74!),747,800, a decrease of 8589,079,900 from last week In
the case of the Clearing-House members, the deposits are “ net” both for the average
and the actual figures, b Includes bank notes.
Week
Ended.
[VOL. LXXXXII
Exports.
Gold.
Week.
Great Britain............ ................
France ...... ........... ....................
Germany ............................
West Indies......................... _
Mexico .............. ..... ............... _•____
South America.... .........
All other countries..
Imports.
Since Jan. 1
$3,500
1,6-15,530
$100
" 813] 92 G
157,625
Total 1911......................................
Total 1910__
Total 1909__
$100 $2,620,581
50,400 44,261,408
50.000 56,432,302
Silver.
Great B ritain.................. ...............
France .............................................
Germany ______ _______ ________
West Indies........ ..............................
Mexico ______ _________________
South America_____________ _____
All other countries............................
$827,005 $21,140,097
53.200
1,338,900
16,493
61,821
1,181
19,801
5,208
242
Total 1911..........
Total 1910......................................
Total 1909......................................
$881,628 $22,582,320
484,986 19,627,996
772,816 21,826,668
Week.
*10.921
115,429
482.073
29,843
112,917
Since Jan. 1
$73,067
464,797
1,819
1,112,983
1,906,W3
1,608,793
1,099,452
*751,183 $6,267,624
75,240 5,643,622
98,418 5,382,135
$21
4,329
9,122
20,002
50,578
5170,928
5,524
9,375
2,6450
2,201.645
821,952
870.83B
$84,052 $4,106,706
10,867
1,864,328
62,084 2,461,130
Of the above imports for the week in 1911, $122,772 were
American gold coin and $3,669 American silver coin.
g a t t M t is a ttd f f i t m x c i a l
D iv e r s ify
Y o u r
In v estm en ts
Write for our circular entitled "Judicious Investment," whl h
treats the above subject In detail.
S p e n ce r
T ra sk
&
C o .
43 EXCHANGE PLACE.- - - NEW YORK.
Chicago. HI.
Boston. Mass.
Albany. N. Y.
;
M em bers N ew Y ork Stock E xch an ge.
W
H
I T
E
,
W
E
L
D
&
C O .
Members New York Stock Exchange,
5
N A 8FAU STREETS
NEW YORK
TH E R OOK ERY
CHICAGO
ilia tt k m
f
(® > a 2 je tte < ,
W a ll S tr e e t, F r i d a y
N ig h t, J u n e
23 1911.
The Money Market and Financial Situation.— The security
markets have again been dull and narrow. Reports of
considerable damage to the wheat crop in South Dakota, the
present status and prospects of the Canadian reciprocity
treaty in Congress, indications that tariff matters will
receive attention and, perhaps, tariff schedules be revised
during the present session of Congress, another decision
by the United States Circuit Court declaring that the Powder
Trust is operating illegally, and reported activities of the
Federal Grand Jury, have all had more or less influence in
producing conditions first mentioned.
At the same time it is not generally thought that any of
these matters will have an unfavorable influence upon
general business and as the week draws to a close there is an
increasing disposition to take a rational view of the situation
as a whole. There is, as every one knows, an abundance
of time in which any slight damage which spring wheat may
have suffered in some localities can be made good before
harvest; and the fact that an officer of the United States
Steel Corporation reports a substantial increase in the busi
ness of his company is a matter of real, not imaginary,
importance.
The transactions in bonds at the Exchange have been
considerably enlarged by the introduction this week of
Panama 3s and Chinese Railway 5s, both “ when issued,”
the former having been taken in large amounts at a premium
of from 2 % to 3 per cent.
Some such results of their listing was, of course, to be
expected in the present state of the money market.
The open market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals has ranged
from 2 to 2 % % . To-day’s rates on call were 2 % @ 2 % % .
Commercial paper quoted at 3 % @ 3 % % for GO to 90-day en
dorsements, 3 % @ 4 % for prime 4 to G months’ single names
and 4 % @ 5 % for good single names.
The Bank of England weekly statement was not issued
as usual on Thursday owing to Coronation holidays.
The rate of discount remains unchanged at 3 % , as fixed
March 9. The Bank of Franco shows an increase of 11,
075,000 francs gold and 2,300,000 francs silver.
NEW YORK CITY CLEAKING-HOUSE BANKS.
(Not Including Trust Compatiics.)
1911.
Averages for
week ending
June 17.
Loans and discounts__
Circulation.......... .........
Not deposits. -----------Legal tenders-- ............
5
134,150,000
200.877.300
1.301,429,000
45,393,000
1,426,219,000
320,159,000
75,278,000
Reserve held. —
..
25% of deposits..........
Surplus reserve........
Differences
from
previous week.
S
Inc. 12,015,500
Dec.
103,800
Inc. 19,889,000
Inc. 10,650,200
Inc.
364,100
401,437,000 Inc. 11,014,300
356,554,750 Inc. 4,972,250
44,882,250|lnc.
6,012,050
1910.
Averages for
week ending
June 18.
1909.
A verages for
tecek ending
June 19.
S
S
130,350,000 126,350,000
185,325,600 172,318,900
1,195,089,700 1,372,384,900
49,188,500
48,193,400
1,191,995,800 1,443,046,000
251,648,000 301,239,100
78,791,100
69,435,800
324,083,S00
297,998,950
380,030,200
360.761,500
26,084,850
19,268,700
Note.—The Clearing House now Issues a statement weekly showing the actual
condition of the banks on Saturday morning as well as the above averages. These
figures, together with the returns of the separate banks and trust companies, also
the summary Issued by the State- Banking Department, giving the condition of
State banks and trust companies not reporting to the Clearing House, appear on
the second page preceding.
Foreign Exchange.— An upward tendency has been noted
during the week, demand crossing 4 86 and cable transfers
4 8G% this forenoon, though the close was slightly below
the top.
T o-d a y’s (Friday’ s) nominal rates for sterling exchange were 4 84 }$ for
sixty-day and 4 87 for sight. T o-day’s actual rates for sterling exchange
were 4 8 4@ 4 8410 for sixty days, 4 8590@ 4 8805 for cheques and 4 8625@
4 8035 for cables. Commercial on banks 4 83 }$ @ 4 83 54 and documents
for paym ent 4 83 M @ 4 83 }$. Cotton for paym ent 4 83 M @ 4 83 }$ and
grain for payment 4 83}$ 05 4 83 ?$.
T o-d a y’s (Friday’s) actual rates for Paris bankers' francs were 5 22 y @
5 21 J$ less 3-32 for long and 5 20?$ less 1-G4@5 20 less 7-04 for short.
Germany bankers’ marks were 04 11-160094 )$ for long and 95 3-10 less
1-32(595 3-10 for short. Amsterdam bankers’ guilders were 40 20@ 4 0 22
for short.
The posted rates for sterling, as quoted b y a representative house, have
remained throughout the week at 4 84}$ for sixty days and 4 87 for sight.
Exchange at Paris on London, 25fr. 3 0}$ c.; week’s range, 25fr. 31 H e.
high and 25fr. 30c. low.
Exchange at Berlin on London 20tn. 42 }$pf.; week’s range, 20m. 43 }$pf.
high and 20m. 42pf. low.
,
The range of foreign exchange for the week follows:
Cheques.
Cables.
Sterling Actual—
Sixty Days.
4 8005
4 8635
High for the week_____4 8415
4 85 ?$
4 8595
Low for the w eek_____ 4 8380
Paris Hankers' Francs—
5 20 less 3-32
5 20 %
High for the week — 5 21 T$ less 1-10
5 20 ?$ less 1-10 5 20 ?$ less 1-32
Low for the week—
5 22 less 1-32
Germany Hankers' M arks—
95 3-10
95 5-10 less 1-32
High for the w e e k ...
94}$
95 }$ less 1-32 95 3-10 less 1-32
Low for the week—
94 ?-$
Amsterdam Hankers' Guilders—
40 22
40 20
High for the week—
40 14
40 19
40 23
Low for the week—
40 10
Dom estic exch a n ge.— The following are the rates for dom estic exchange
at the undermentioned cities at the close of the week: Chicago, 25c. per
51.000 premium. Boston, 10c. per 51,000 discount. New Orleans,
com m ercial, 25c. per 51.000 discount: bank, 51 per 51,000 premium.
Charleston, buying, par: selling, 1-lOc. premium. St. Louis, 40c. per
51.000 premium. Savannah, buying, 3-10c. per 51,000 discount: selling,
par. St. Paul, 85c. per $1,000 premium. San Francisco, 30c. per $1,000
premium. Montreal, 3 1}$ c. per $1,000 discount.
State and Railroad Bonds.— Sales of State bonds at the
Board include $2,000 Virginia fund, debt, 1991, at 8 0 1 4 and
$44,000 Virginia 6s, deferred trust receipts at 57 to 58% .
1685
T H E C H R O N IC L E
June 24 1911.J
The market for railway and industrial bonds has been less
active than last week, but the deficiency was in part made up
by the introduction, as noted above, of new Government
and foreign issues. Prices have had a tendency to decline
in sympathy with the shares market, led in several cases
by convertible issues.
Norfolk & Western conv. 4s have been a notable exception,
having advanced nearly 2 points. Some of the Erie issues,
Northern Pacific 3s, St. Louis Southwestern con. 4s and
Readings have been relatively strong features. WabashPittsb. Term. 1st trust receipts have been the most active
bonds during the week, have covered a ranged of 2 points
and close with a fractional net loss.
United States Bonds.— Sales of Government bonds at the
Board are limited to $720,000 Panama 3s, ’“ when issued,”
at 102 % to 103. The following are the daily closing quota
tions: f o r y ea rly r a n g e see th ir d p a g e f o llo w in g .
I Interest
|Periods
2s,
2s.
3s,
3s,
4s,
4s,
2s,
3s,
1930 . . . ........registered Q—Jan
1930___ _______ coupon Q—Jan
1908-18. ____ registered Q—Feb
1908-18.
1925 . . . ........registered Q—Feb
1925___ ........... coupon Q—Feb
1936.Panama Canal rcgls Q—Feb
Pan Canal when if sued __i .........
June
June
June
June
June
June
*100}$
*100}$
*101}$
*101}$
*114
*114
*100
*100}$
*100}$
*101}$
*101 'A
*114
*114
*100
*100}$
*100}$
*101}$
*101}$
*114
♦114
*100
*100}$
*100}$
*101}$
*101}$
*114
*114
*100
*100}$
*100}$
*101}$
*101}$
*114
*114
*100
102}$
*100}$
*100}$
*101}$
*101}$
*114
*114
*100 ^
102}$
17
19
...........
20
21
22
23
* Tills Is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous.— Stock transactions have
been on a limited scale, averaging for the week only a little
more than during the dull period in May. The market had
a firm tone on Monday, when the entire active list recorded
an advance of nearly a point. But the movement was not
sustained and, notwithstanding some recovery to-day,
closing prices are in many cases lower than last week.
Among the exceptional features Lehigh Valley is conspicu
ous for an advance of over 2 points and Norfolk & Western
is nearly 2 points higher than last week. Canadian Pacific
advanced sharply to-day and at 243 % made a new high
record.
Denver & Rio Grande, on the other hand, added 3 points
to the decline noted last week and Louisville & Nashville
is 2 points lower.
Underwood Typewriter sold to-day 6 points higher than
on Tuesday. General Electric and Amalgamated Copper
have also been strong features of the industrial group.
F o r d a ily v o lu m e o f b u s in e s s see p a g e 1693.
The following sales have occurred this week of shares net
represented in our detailed list on the pages which follow: .
STOCKS.
Week ending June 23.
Sales
Range for Week.
f o r --------------------------------------Week.
Loiccst.
. Highest.
Range since Jan. 1.
Amer Tcleg & Cable___
Associated O IL -............
Batopllas Mining........ .
Cent & So Am Telegraph;
Col Fuel & Iron, p r e f...
Comstock Tunnel-------E I du Pont Powd, pref
Ilomcstake Mining------Intcrb-Mctpf vottretfsMay Department Stores.'
Preferred......... .........
New York D o c k ..........
Ontario Silver Mining.. _
Pacific Teleph & Tel, pf.
Quicksilver Mining____
So Porto UIco Sug, pref.
Standard Milling, p ref..
United Cigar Mfrs, pref.
Va Iron, Coal <&C o k e ...
Vulcan Dctlnnlng.......... ■
90 79 June20. 80
Junc20
100 51}$ June20 51 }$ Junc20
700 Sl?$ June20 Sl}$ Junc20
10 120}$ June23 120}$ June23
20(110
Junc22410
June22
1,400 27c.Junel7| 29c. June20
228| 96}$
June22
100 81}$ June22: 84}$ June22
200 50}$
June23
1,300: 80}$ June22, 83?$ Junel7
200112}$ June2lll2}$ June2l
100. 24}$ June21 24}$ Junc21
10, 1}$ June20‘ 1}$ June20
600 97}$ June23t 97}$ June23
200' 2 Junel7
2 Junel7
100110
June20110
June20
490 51 June20 52 June2I
100 106}$ JunelO106}$ Junel9
1,020 70
June20 72
June21
10 17}$ JunclT 17}$ Junel7
79
June 85}$ Jan
Mch 55}$ April
48
$1}$ June S2 }$ Jan
116
Jan 122
Mch
Mch 112
110
May
20c. Feb 34c. May
82 97June21
Jan 97
May
S4
May 87
May
50}$
Junc23
50}$
June
50}$ June
70 April 84
June
111}$ Junei 112}$ June
24}$ June 25
Feb
1 }$ May 1 H June
Jan 99 H Mch
95
2 April 2}$ Jan
110
Feb 113
Jan
May 52
51
June
101 )$ Mch 106}$ June
52
Jan 72
June
13 June 17}$ June
Ixnvest.
Highest.
Outside Market.— Business in the outside market this week
was principally in bonds, trading elsewhere being extremely
limited. The weakness of American Tobacco was a feature,
the stock after an advance of 2 points to 412 dropping to 386.
The close to-day was at 397. Intercontinental Rubber com.
rose from 27% to 28 and fell to 27. Standard Oil gained 2
points to 655, declined to 645, the final figure to-day being
647. Studebaker Corp. com. from 66% ran up to 68% and
reacted to 67% . The preferred moved up from 105 to 107%.
Amer. Telep. & Teleg. “ rights” to the new stock issue ap
peared in the trading and sold up from 6 % to 7. Record
breaking sales of Panama 3s were recorded,and, including the
transactions in the Chinese Railway 5s, overshadowed aN
else.' With the listing of these two issues on the Exchange,
trading has fallen off. Sales of Panama 3s “ w. i.” reached
about $6,000,000 at prices ranging between 102% and 103%.
Later the bonds sold on the Exchange at 103 and 102%.
The Chinese Railway 5s from 97% reached 98, sank to 97%
and moved up finally to 9 7% . After this the bonds were
traded in on the Exchange up from 97% to 97% and down
to 97% . Great Northern 4% s “ w. i.” advanced from
101 13-16 to 101%. Oregon-Wash. RR. & Nav. 4 sadvanced
from 92% to 93 and weakened to 92 13-16. Southern Bell
Telep. 5s sold up from 99% to 9 9 % . Trading in mining
shares was small. Braden Copper sold up from 4 % to 5 %
and down to 4 % . British Columbia moved down from 5 %
to 5 % and Butte Coalition from 19% to 19% . Giroux ad
vanced from 7 to 7 % and fell to 6 % , the close to-day being
at 6 % . Greene Cananea rose from 7 % to 8, fell back to 7 %
and finished to-day at 7 % . Inspiration rose from 9 % to
9 % , reacted to 8 % and sold to-day at 8 % .
;
Outside quotations will be found on page 1693.
. . •v]
N e w Y o r k S to c k E x c h a n g e - S t o c k
R e co rd , D a ily , W e e k ly and
OCCUPY I.Mi TW O
STOCKS— HIQHEST AND LOWEST SALE PRICES.
Saturday
June 17
Monday
June 19
Tuesday
June 20
Wednesday
June 21
Thursday
June 22
Friday
June 23
ST O C K S
Week
Shares.
Y ea rly
PAGES
N EW Y O R K STOCK
E XC H AN G E
Itanyi since January l.
On basis oj 100-share lots.
Ranee /or Previous
Year 1910.
Highest.
Railroads
11312 11378' 114 114*8 U37g 1145, 113% 11334 112% 113% 1123, 1133, 46.800
tch Topeka & Santa Fe 100% Jan
lloftg J ’ne
90*4 J ’ly 124% Jan
*105% 105% §10.5-% 105% 105% 105% § 105*8 1053g 105 105 *!04*g 105%
560 A
100*4 Jan
Do
p r e f _________
105% J ’ne 12 r97 J ’ly 104% Jan
131 132
131 131
131% 131% xl28 128% 127 128 + I26R 128
2.400 Atlantic Coast I.lne R R .
117 Jan
132% J'ne 14 102% J ’ly 137% Jan
108 108% 108% 10S% 107*8 108% 10734 108
107% 107% 107% 1073.
5,650 |4aitlmore & Ohio_____
102 Feb
10u%Jan 1 100% Sey 119% Jan
89% 89% 589% 891,| *89
8934 *89
893., 590
90
*S9
8934
258
Do pref
87 Mch 21 9 1 J an 4
87% Sep
94 Jan
80
80% 80% 80% 80
80% 80% 80%
79*8 80%
80 ~
5.740
74<8 Jan
83 J’ ne *
68% l eb
82*8 May
239*8 240
240% 241% 2383g 240% 2383g 239% 238% 240% 241% 243% 20,425 Brooklyn Rapid Transit
195%
Jan
243% J ne23 176*4 Feb 2023s N ov
*65
72% *62% 72% *62% 72% *06
72% *62% 72% *62% 72%
62 Mch
anada Southern
§69 M avis
60% J ’ly
70 ja n
*280 290 *280 290 *280
290 *280
290 *280 290 §285 285
10 Central of New Jersey___ 270 Mch 10 285 Feb 21 248 J ’ly 312
Jan
83% 83% 83% 84% 83*8 84% 83% 837g
8234 8.3%
827, 833, 17.550 Chesapeake & O hio____
77 Apr 2
8;i34 Feb 8
05 Aug
92 Jan
*20
30
*20
30
*20
30 *20
30
*20
30. *20
30
Chicago & Alton R R ___
25 Apr
31% May 23
237g J'ly
0034 Jan
* ___
65
*
____________
65
----65 * -------- 65
* _ 65 *
65
Do
pref_____________
62
Mch
17
53
Jan
lu
64%
J'ne
69 Apr
*23% 24
*23% 24
*23% 24% 23% 23%
23 23%
23% 2334
750 Chic Gt West trust ctfs__
20% Apr 1
25% J ’ ne
19 J ’ iv
367g Jan
46
45% 45% *45
45*4 45*4 *45% 4634 *44% 46
*44% 45%
400
Do pref trust ctfs_____
42 Apr 25 49% Feb
40 J ’ly
64% Jan
127% 127% 127% 128% 127% 128% 127 127*8 124% 12634 125% 126% 39.540 Chicago
MIlw
&
St
Paul.
1
,3
•
Feo
I
i
7
Apr
18
113*4
J
’ne
158.% Jan
*153 1551g *153% 156 *153 15o% 154% 154% 154% 154% *153% 155 4
200
Do pref______________ 147 Jan
155i". Feb
143 Sop 172% Jan
148 148 *148 149
148 148
147% 147% 146% 147% 14034 1463,
1,400 Chicago <fc North Western 142% Jan 16 150i» J ’nol
137% J ’ly 182% Jan
*199 205 *199 205 *199
210 *199 210 *199 205
Do
pref______________
§209
Jan
§20u
Jan
203
J
’ne
225 Jan
+140" 143" *140 145 *140 143 *139
143 *140
145 *140 144
Chic St P Minn & Omaha 130% Apr 20 144 J ’ nc 12 140 Apr 102% Feb
*155 160 *155 160 *155 160 *155
160 *155
160 *155 165
Do pref______________ 162 Feb 18 §160 Mch 2 §160 Apr §170% Feb
*212 3
2
2% 2% §2
*2
3
*2%
3 *2
3
250
Clilo
Cn
Trao
ctfs
stmpd
2
Apr
3*8
Feb
2
%
Dec
5*8 Jan
5% 5% *5% 6*4 *5%
*5% 678
7% *5% 6% *5
7
100
Do pref ctfs s tm p d ..
6 J ’ne
47g Sep
7% Feb
12% Jan
*57
64
60
*57
63
*57
*57
60 *57
60 §59
69
20 Clevc Cln Chic & St L ___ 66% Apr 25 66 Jan 18
61 Nov
92% Mch
*95% 100
*95% 100
*96% 100
*95%
100 *95% 100 *94% 100
Sep
98
Feb
96%
Mch
18
104 Jan
*54% 55% *54
56
*54% 55
65% 5534 65 55
*54% 55%
725 Colorado & Southern____
61 Apr 18 60 Jan 18
J'ly
6534 Feb
*80% 81% *80% 81
81
81
*80%
81 80% 80% 81
81
200 Do 1st preferred___II
74% Mch27 81 J'ne 19
J ’ly
83 Mch
*75
80
*75
80
*75
80
*75
80 *75
80 *75
80
Do
2d
preferred_____
(3%
Jan
11
Aug
751Mch
81 Jan
*172 173 *172 173 *172 173
1717S 1717g*170
173 171 171
270
& H u d so n .,
1747g J'ne 8 r49% J ’ly 185 Jan
164% Jan
*505 565 *505 565 *530 565 *545 565 *505 .665 *505 665
D elaware
elaware Laok & West
510 Feb
660 J ’ne
490 J ’ly 620 M ch
*28% 29% 28% 28% 2734 29
27% 28
27% 27%
28
28%
4,270 Denver & R io Grande___
27% J ’ne 22 35 Feb 16
23% J ’ly
62 Jan
57% 59
5634 58
*58% 60
5534 56% 55% 56
56 565,
8,703
Do pref_______
74
Feo
21
65%
J
’n
e
22
02% J ’ly
81 Jan
*13
15
*13
15
*13
15
*13
15 *13
15 *13
15
Duluth So Shore & Atlan
II Jan
15*8 Mch 30
10 J'ly
18*4 Jan
*24
28
*24
28
*24
28
*24
28
*23% 27% *23
27
Do
pref______
22
Jan
17 J ly
30% Mch30
34% Jan
35-% 35% 35% 36% 36% 36*4 36% 36% *35% 36
36
367g 34,430 K’ r l e ...........................11 ”
27%
Jan
11
37%
J
’ne
12
19
%
J
’
ly
34%
Jan
55-% 56
56
57% 66
67% 66% 56% 65% 5573 55*4
—
“67
6,875
Do 1st p referred..
45*8 Jan 12 69 J ’ne 12
35 J ’ly
62*4 Mch
463,, 46
45
45-% 46
46% *45
46% 4434 4434 45
46% 2,450
2d preferred..
35 Jan
47% J ’ne 12
26% J ’ ly
42 Mch
136% 138
136% 13734 136 137% 136% 136% 135% 136% 1367, 136*4 32,000 GreatDo
Northern pref____
122 Feb 24 140 J'ne
118 J ’ly 1437g Jan
62% 62% 63
63
62% 62% 61
61% *61
62
61*8 61*8 1,100
Iron Ore p ro p e rtie s...
66 Jan
4.) J ly
65*4 F'eb 2
80% Jan
*13% 14% *13% 14% *13% 14% *13%
14% *13% 14% *13% 14%
Green Bay & W .deb ctf B 13% May 13 15% Jan 17
11 Aug
18% Mch
*
____________
96% 99% 95% 95% *94
96% 9610 ___
99% ;___
99%
500 H avana Electric.
. 95% Feb 11 96% J ne 19
88
% Ja
97% Apr
*96% . . .
- ........ * 9 8 % ________ *98% . . .
9
3
*4
Jan
12
97
.
J
’ne
7
92
May
99 „an
Do preferred
* ___ 142
*
____________
140
___ 138%*___ 142 * ___ 142
128 Mch 24 134 Apr 29 112 J ’ne 140 Oct
141 141 *140 14134 1403., 141 *140% 140%| 140 140% 140% 140%
900 Hocking Valley
132 Jan
142 J'ne
124 J'ly 147 Jan
18% 18%
183, 18% 18% 18%
183g 18*8 177g 18% 177g 18
3,897 I lllnols Central..... ..........
17% Apr 22 20*8 Feb 10
14% J ’ly
25% Jan
517g 52% 51% 52% 513g 62
513a 51% 60% 51% 60% 5034 3,700 1 nterboro-Metrop v't ctfs 47*4 Apr 22 65*8
Jan
41% J ’ly
p r e f..
6278 Jan
*18
18% *18% 1834 *18% 18*4 *18
1834 18% 18% *17*4 18%
200 IowaDo
15
M
a
yl
2
19%
Feb
15 J'ne
C
en
tra
l..
30 Jan
*35% 36% 36% 30% 30% 36% 36% 36%} 36
36
1,500
35 3 57g
28
Apr
24
30%
J
’ne20
J ’ly
64% Jan
Do preferred__________
*75
75% *75
82
*75
82
*75
82
*75
82
*75
82
74
Apr
76 May 4
Aug
80 Feb
! *35% 36% 36-% 36% 35®g 35*g 35% 35% 35
35% *35% 36*4 4,300 K C Ft S & M tr ctfs.pref 32 May 3 37*8 J ’ne 13
J'ly
44% .jan
ansas City Southern.
*69
69% *69
697,
69% 69% *69
697g 6834 69
1,000
* 68% 69%
64%
Jan
6934
J
’
uc
13
Aug
71 Jan
Do
preferred_____
*15
17
*15
17
*15
17
*15
17
*15
17
*15
17
147g May 19 16*4 J ’ne 16
J'ne
25*4 Jan
ake Erie <fc W estern.
*33% 36
*33
36
*33
36
*33
38
*33
36
*33
36
35 May 2 40 Jan 13
37% Dec
62*4 Jan
176-% 178% 177% 17834 178 178% 178 179% 177% 178% 178*4 179% 35.850 L
Do preferred_____
168*4
Apr
24
181%
Feb
173%
Dec
186 N ov
*57
59
*57
59
*57
59
67% 57% *56
58
*57
58
100 Lehlgli Valley__________
67% J ’n e21 63 Jan 16
60 J ’ly
70% Apr
*151 152% 151% 152% 151% 151% 15034 151% 149*4 150% 149% 149% 4,200 Long Island______
142% Jan 26 153 J ’ne
131% J ’ly 159*4 Jan
*136 138 *136 138
Louisville & N ashville.. 134
137% 137% §136 136 +136 138
135 135
210
Mch
28
141
Jan
123
J
’ne
146 Oot
30
30
30% 30% 30
30% 30
30% 30
30
1,950 ]VI anhattan E le v a te d ..
30
30
21% Apr 26 31 Feb 15
J ’ly
63*4 Jan
*45
48
*45
48
*45
45
48
45
45
45
45
45
725 I'Alnneapolls & St Louis 35 Mch 13 6) Feb 14
Seu
80 Feb
Do preferred___
136*4 137
137% 138% 137 137*4 +137 137% 137 137% 137% 139% 2,600
132% Jan
152% Mch 30
J ’ly 145 Mch
Minn St P & S S Marie. .
*148 153 *150 154 *149 153 *150 153 +150 153 *150 154
147*4 Jan 6 160 Mch 30
J'ne 156% Moh
*89
893., *89
Do preferred_______
89*4 *89
8934 *89
89% *89
893., *89
89*4
88% M ch24 90% Mch 1
z86% Sop
0234 Jan
Do leased line c t f s ..
37
37% 37% 37% 37
37% 36% 36*8 36% 36% 30% 367, 3,950
31 Feb 24 38% J'ne 14
27 J’ly
61% Jaa
*67
68% *67
69
68 68 *67
68*8 67
67
210 Mo Kansas & T exas____
*66 68*8
63% Jan 16 69 J'ne 10
74% ja n
57
j
'l
y
Do
preferred___
*
50% 50% 50% 507, 50
50% 50
60% 49% 49*., 49
49% 10,900
45*s Apr 19 63 Feo 15
41 J ’ ly
73% May
’ *155 160 *155
“
160 *155 100
158 158 *155 100 *153 159*4
110 Missouri Paclllc____ ""
140%
Jau
19
16)
J
'n
el4
125 J ’ly 140 Nov
]V ash Chatt & St LoulsI
*63
67% *63
*63
67
67% *63
67
*65
67% *65
67
63 May24
60 Feb
72*8 Jan 26
72*8 NOV
at
R
ys
of
Mex
1
st
pref
31% 31% 32% 32% 31*8 3134 31% 31% *30% 32
*30*8 32
'Y.700
29%J'ne 8 38*s F'eb 15
23% J ’ly
37% N ov
11034 111
111% 111% 3?109*8 H0% 109% 109*4 108% 109% 109 109% 6,073 __ . . Do 2d p re fe rre d ... 104%
Apr la 115% Feb 3 105% J ’ly 128 Mch
N Y Central A Hudson
*59
59% *59
59% *58
59% *58% 59% 68% 58% 5834 6834
200 N
67% Apr 17 65 Jan 19
55% May
687g N ov
Y Chic & St Louis____
*102 107 *102 107 *102 107 *102 107 *102 107 *102 107
101% Feb 21 101% M ch 20 §101 J ’ly 10934 Jan
Do 1st preferred____
*85
90
*85
90
*89
*85
90
92
*85
90
*85
90
83 Apr 7 90 Jan 27
82*4 Apr
98 Jan
2d preferred_____
*142 144% 143% 143% 143 143
142*4 142*4 1397s 140% 139% 140
1,565 N Do
139%
J
’n
e23
151% Feb 23 149 Apr 192 Moh
Y N H & H artford____
*141 147 *142
M aylo 149% Feb 27 /il43 J ne /il5l Mch
Subscription receipts y . 141
45
45
45% 45% 44% 45% 44*8 45
44% 44*4 44*4 45% 3,100
40% Apr 22
38% Aug
50 Jan
107% 107% 107% 1077, 107% 1087g 108 108% 1077g 1093g 109 109% 26,300 N Y Ontario & W estern. 100% Jan 3 46% J ’no 14
109*4 Mch 28!
88% J'ly 108*8 Moh
N orfolk & W estern_____
*89
92
*89
92
*89
92
*89
92
*89
92
*89
91
85*4 Apr 18, 91% J ’ ne 8
88 F’ eb
91% Mch
Do adjustment pref ’
*43% 467, *44% 407, *44% 46*4 +44% 46*4 *44% 46% *44% 467g ______
39%
Jan
8
44*4 J ’ne 0 35 Fob
40% Deo
133% 134% 134% 135
1335s 134% 133% 134% 132 133% 132*4 1337g .......... I Northern Ohio Trac & Lt 116 Jan 3j 137% J ’ ne 8
111% Aug 146*3 Jan
38.505 Northern Pacino
*97 105
*97 105
*96 106
*96 105
*96 105
*95 105
11834 Jan
........ I ‘p a c ific Coast Co_____100 Jan 11 102 Jan 10 100 Oct
*85 110
*85 110
*85 110
*85 110
*85 110
*85 110
Do 1st preferred___ 101 Jan 1
*97 105
*97 105
*96 106
*96 105
*96 105
*96 105
124% 124% 124% 124*4 124*8 124% 124-% 124% 124 12438 124% 124% 14,250
Do 2d preferred___ 120% M ayl 5 102 Jan 11 106 Feb 118 Jan
130% Feb 2 122% J ’ly 138% Mch
P enn sylvania_________
2 Apr 18 21*18 May 18
R ig h ts _____________
95% 95% 94% 945g +94% 96
*95% 96
94
94% 94
900
94
93% Mayl3 100 Jan 17
89 J ’ly
Moh
Plttsb
Cln
Chlo
&
St
L
.
108 115 *108 115 *108 115 *108 115 *108 116
*108 115
111 May 20 112 F’eb 17 110 Oct 104*8
116 Moh
Do preferred______
1587g 15934 159% 160% 159% 160
159% 160% 158% 159% 158*4 159% 241.400
149% Apr 24 10134 Feb 7 130*8 J'ly
172
% Feb
90
90
90
90
90
90
90
90
*90
91
000 I ) e a d l n g ____________
*90
91
8s Mch 1 01 F’ eb 3 xS5 Aug
93% Feb
97
97
*96
98
97
97
*95
98
300 *4* 1st preferred____
*95% 98
94 Jan 5 101 Mav 2
87 J ’ly 110% Jan
d preferred_______
’ 33% 33% 33% 34% 33% 33*4 33% 33% 32% 33
33
33*8 16,600 Rook 2Island
227g J ’ly
27% Apr 21 34*8 J'ne 14
57% Jan
C o m p a n y ".
*67
68% 67
67% 65% 66% 6634 65*4 *64
1,700
65% ♦6434 67
67*4 Apr 24 68% J ’ne 14
64 J ’ly
% Apr
Do preferred______ 11
68
67% *67
*67
67% 68
67% 67*4 *67
600
*67
68
61 Apr 24 68% J ’ no 3
58 Aug
73 Jan
46% 46% 46% 45*4 46
40
45% 46% 45
45*8 45*8 4,400 S t L & San Fr. 1st p ref I 38 Apr 22 471? J ’ne 3
34% Aug
60
Jan
Do
2d
preferred____
*31
33
32*g 33
*32
33*4 *32
34
300
*31
33% 33%
24 Jan 13 34' F’ eb 4
18% J ’ly
34% Jan
*69
70
70
70% 71
71
*70
71% *69
500 St Louis Southw estern..
*69
71
69*4 Jan 3 71 J'uc20
61% J ’ly
77% Jan
Do preferred___
120 120% 120% 1205, 120 120% 119*8 120
118*8 119*8 119 120% 20,750
113*8 Apr 18 121% J ’ne 9 103% J ’ly xl38% ja n
31% 31% 31*8 32% 31% 317, 31% 313, 30% 313g 31
313g 18.300 Southern Paoiflo C o_____
25% Mch 4 32% J ’nc 15
18 J ’ly
33*4 Jan
70% 70% 71% 72% 71*8 71% *70% 71% 70
70%
70*4 70*., 2,500 Southern v tr ctfs stm pd.
61% Jan 11 72% J'ne 12
43 J ’ly
75 Jan
Do
pref
do
*29
29% +29
29% *29
29% *28
29% 28
28 • 28% 28%
300
25% Jan 3 30% Feb 21
22% J ’ly
36*4
Jan
rPexas
&
Pacific_______
107g 107,
J ll
11
11
11
+ 10*4 11% 10*4 10*4
11
11% 2,100 T hird Avenue (N Y ) ___ 8*5 Mch 2 14% J ’ne 9
5‘->J'ne
19% Jan
*7
8
*7
7*4 *7% 8
7*4 *7
tp
*6*4
7*4
*7
7*4
6
%
J
’ly
8
%
Jan
17
6
*4
Mch
27
16*4
Jan
22% 223,
T
oledo
Railways
&
L
t___
23
23
22*4 22*4 22% 22% 22*4 22% 22
225,
1,600
19 Apr 24 24*4 Feb 8
19 J ’ly
64*8 Jan
51% 513,
61% 51*8 51% 51*8 50
61
51
51
60*4 607g 2,400 Toledo St L A W estern ..
4234J ’ly
45 Apr 11 537g Jan 5
72% Jan
Do preferred
*107 109 *107 109 *107 109 + 107% 109 *107 109 *108 109
108 Jan 11 111 F’ eb
103 J ’ly 117% ja n
Twin
City
Rapid
Transit"
184*4 1853, 185*8 186% 185% 186
185% 1857, 183*8 185
145,100
184 185%
169*4 Jan 3 188 J ’ne 8 152% J ’ly 20434 Jan
94
94
94% 94% 94
94% 94
94
03% 94% *93*4 94% 2,300 U nion Pacific__________
88% J ’ly 10334 Jan
90% Mch 6 95*4 Apr 5
39% 40% 39
40
Do preferred___
37
38% 37% 38% 38% 381» 39
39
2,700
31% Jan 3 49 Feb 20
23*4 J 'ne
42% Jan
70
70
69% 70
68% 69
69
70
* 68% 70
69*4 70
1,500 Unit Rys In v’ t of San Fr 60*4 Jau 3 70*4 Mch 22
47 J'ne
72*8 Jan
Do preferred____
41%
Apr
13
45
Apr
24
Ry a Power
*17
17% *17% 17% 17
17% *17
17
17% 17
17
17
600 Virginia
15%
Jan
6
12*g
J
’ly
18*s Feb 23
2734 Jan
38% 38% 38% 38% 38
38% 38
38% 37% 37% 37*8 37Sg 2,600 W abash
Do preferred_____
327g Jan 11 40% Feb 23
18% J'ly
61 Jan
69
59
69
69
*58% 597,
69*4 58% 69
59
58% 68*4 2,800 Western Maryland R y ___
48% Apr 18 61% May31
'40 J ’ly
64*8 Mch
*80% 82% *80
82*4 *80
82% *80
81%
82.% *79% 82*4 *80
Do preferred______ ”
75 Jan 14 81 Mayi3
67 AII if
77 Deo
*4
5
3*4
3% 3% 1,525 Wheeling A Lake E r le lll
3*4 4
37,
3% 4
3% 4
3% J ’ne23
3 Apr
6% F’ eb 3
10 ja n
16
16
*12
*12
16
16
*8
*14
15
*12
15
16
400
Do 1st preferred_____
12% Apr 26 17% Feb 3
8 J ’ no 23 Jan
534 6
*4
6
6% *5
+5
6
6
*5
6
600
Do 2d preferred______
4 J'ne
6 Jan 6
8 Feb 7
13%
Jan
68% 08%
69
68 68 *68
687,
67
67%
6
8
60
1.300 Wisconsin Central____
41 J ’ly
57 Jan 3 72% May 1
64 N ov
62
BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS.
Banks
New York
A etn a____
America H ..
Amor Exeh.
Audubon . .
Battery Pk
BoworyU___
Bronx Boro 1i
Bro ix Nat
Bryant Pk «
Butch A Dr
Oontury §|._
Ofcase ____
A ft
180
600
253
105
145
40.)
300
190
165
133
150
650
Banks
Sul
Cbat&Phentx 172
185
Chelsea Kxfl 200
625
Chemloal . . 1450
__ Citizens’ Cd 160
C ity............. f 420
115
155
Coal & Iron 150
4 15
Colonla. § . . 400
Columbia | . 375
Commerce _ 1215%
2(F)
Corn Ex §|._ 325
160
East River. 115
146
Fidelity <|.. 165
Fifth A veil 4100
575*
AS*
1T8
___
185
1460
100
___
400
1221
330
125
175
(350
But
Banks
Filth _____ 300
First ______ 1999R
14th S tH -.. 150
F o u r th ____ f 205
G a lla tin ___ 335
G a rfie ld __ 295
Germ-A in 11 140
Germ’n Exfl 435
Germania 1|. 550
G o t h a m __ 150
Greenwich 1) 240
Hanover___ 63)
H a rrlm a i. . 285
Ask
350
___
160 Jeifa son§]_
1206
Liberty____
345
Lincoln____
305
Manhattan!]
145
Jark’ UtFul
Mech &Uet'l
575
Mercantile .
Mere 11 Exch
156
250
Merchants'.
650
Metropolis 5
___ Metropo! ’ nf
Hid
Ask
575
58:
215
145
165
575
600
400
425
335
346
250
12(59 1272
155
145
165
170
179
182%
375
390
198
305
u : no
made on this day. fK x-rirhts. §Less
tSalo at Stock Exchange or at auction tht* woek. h First Installment paid. t h a n 100 s h a r e s .
Banks
Mt MorrisTf.
Mutual 1]___
Nassau ____
New Nettl'd
NewYorkCo
New York.
19th W ard.
Pacific^____
P a r k ______
People’s H_I
Plaza^j_____
HUI
250
285
300
210
000
305
170
280
f373
245
625
Ask
280
295
220"
975
315
IS ta te ban k s,
a E x -d iv id e n d
n S o l d a t p r i v a t e s a le a t t h is p r i c e ,
s 2 d p a id ,
Banks
Prod Flxch Tj
Reserve . . .
seaboard _ I
Second . . . I
-Sherm an..!
State 1]
12th VVinll
23d W a r d ..
Union Kxc"
Wash H’ ts i
West Side «
Yorkvllie §J.
ina
170
85
415
385
135
250
100
Mil;
175
95
too"
27*5*"
175
175
275
(16O
500
and rights, b Now stock
V 3d paid.
TOCKS— HIGHEST AND LOWEST SALE PRICES.
Saturday
June 17.
Tuesday
June 20.
Mon lag
June 19.
1687
New York Stock Record —Concluded— Page 2
J u n e 24 1911.]
Wednesday
June 21.
Thursday
June 22
Priday
June 23
Sale- of I
STOCKS
the
N EW Y O R K STOCK
Week
E X C H AN G E
Share*
Range since January l.
On basis of VM-shar>. lots.
Range for Previous
Y ea r
191 )
Highest.
|In du st rial 5c Miscellaneous
235 Jan 20 {245 Apr 7 {235 Dec {270 Jan
Express.
A dams
15 Jan
73s A pr 18
llls-Chalmers . .
7% J ’ly
9*4 May (1
5434 lan
25 Apr 21 34 te n .
27 Aug
8U0|
Do pref_____
9034 1an
86.260 Amalgamated C opper___ 59'>8 A pr 18 71*8 J ’ne 19
65*8 J’ ly
4b Jan 3 CO May l
49% Oct
35 J ’ly
6001 Amer Agricultural Chem.
101% Jan 27 103 Feb 7
99% Apr 103 1an
..........
Do pref
3934 Jan 12 5o% J ’nelt)
24 J’ ly
47% Jan
22.5(H) American Beet Sugar-----95% J ’ne
r2%Jan 9 100i2 J ’ne 14
89 J ’ly
Do pref______________
25
90 Jan t 97 Feo 27
82% Oct
91% N or
Amer Brake Shoe 8e F d y .
12»ig Jan . 13-t Feb 23 119 J ’ly 131% N ov
212
Do prel___
67g 1 ne
878 Jan 6 121- May 9
1378 ‘ in
1,800 American Can
62 J ’ly
77 Jan 5 887g Ma> 23
82% N or
Do pref________
2.600
727* ja n
6OI4 A pr 24 57‘-F e b •> 39% J ’ly
1.000 American Car & Foundry
114U Mch 13 120 May 23 109 J n 1 120 Mch
Do pref_______
208
6934 Mch
4J>4 May 2 62% Feb
(.2% J ’ ly
1.5(H) American Cotton Oil-----100 May26 1051* Feb 6 100 Dec 107 Oct
100 Do pref
60 American Express---------- {224 Jan 11 {255 Jan 27 {230 Dec ♦320 Jan
6 J’ne 14
3% Sep
8% Ian
3*4 Jan 25
300 American Hide A Leather
19 Sep
477* an
20 Jan 10 2(1*8 J ’Tlc 14
4(H)
Do pref______
163g Dec
17*4 Jan 17 261- M ch li
29% Mch
5.600 American Ice Securities.
1734 .a n
12*4 Feb 14
10% j ly
10lg Apr 21
American Linseed
25% J ne
467* an
30 Apr 21 34 Feb 14
100 Do pref_______
29 J ’ly
62% Jan
35*4 Apr 21 4314 May22
700 American Locom otive—
102% Aug 115 Jan
104 Apr 18 1101- Jan 1.
17
Do pref
3% Dec
8 Feb
5% Jan 21
3*8 Feb r
2.800 American Malt Corp____
28% J ne
48 Mch
31'* Men 8 42<2 Jan 22
6.095
Do p re f______________
82 J ’ly
907g jan
100 Amer Shelters Sec pref B 88 Mch 8 89 Feb
61*8 J ’ly 104 jan
70*8 Apr 18 837g J ’ne 15
30.900 Amer Smelting A Refining
98% J ’ lv 11234 lan
103*g Jan 3 108 •J ’ uc 15
630
Do pref____
325 * Ma> 23 245 Nov 285 Apr
250 J ’ne
American Snuff
95% - J - 102 Deo
104
May
8
971*
j
’ne
Do pref____
66 jan
38 J’ ly
521- Feb
1.200 Amer Steel Found (new ). 80*4 Apr
1221- Feb 27 111% Oct 127% Feb
400 American Sugar Refining 113 Jan
1191* Feb 14 111% Dec 124 Feb
111 Jan
100 Do pref
153% J ’ne 8 12034 J ’ly 1433g Feb
52,949 American Teleph A Telcg 140U Jan
9934 Mch
uo% J'ly
10
May 18
931* Jan
1.000 American Tobao (new), pf
39% Mch
25% j 'l y
30U Jan
361* Men21
1.300 American W oolen_______
90% Dec 104 Mch
86I2 Mch 29 96*4 J ’ ne 15
2,415
Do pref______________
2734 Mch 17 341- Feb 15
Amer writing Paper, prf.
2.300 aAnaoondaCopper P a rt25 $36ig Apr 18 $41is J ’ne 13 $33% J ’ly $64 1an
21 J ne
347g Oct
26*8 Mch 14 34% J ’ ne 19
4.000 I lethlehem Steel_______
49 AUlt
69 Jan 3 64'; Apr
65 ja n
2.000 1 ’ Do pref____________
Brooklyn Union Gas____ 135 Jan 3 145*2 J ’ne 8 125 J ’ly 104% Jan
J
uc
8
lull Feb 1
9 Jan
18% Jan
100 Brunswick Term A R y Sec
28 J ’ne
33 Jan
28 Feb 16 31 Mch30
Butterlck Co____
4834 j an
25% ly
33% Feb
26 A pr 24
2,750 i "entral Leather
9
9
%
J
’ly
109%
Mch
9814 Apr 22 105 Feb 10
400 ’
Do pref____
2.950 dChlno C opper____Par $5 S21>* Apr " $2564 May 19
22%
J’
ly
50
Jan
281*
Apr
22
36*8
Feb
2,070 Colorado Fuel A Iron —
122% J’ly I603g jan
3,700 Consolidated Gas (N Y ) . 135*4 Jan 3 148 J ne
11% J ue
2 3 % lan
13»* Jan 10 15*4 May 17
2,900 Corn Products Refining_
86% Jan
85
May
29
74i*
Jan
10
Do pref
300
3634 Jan
25
32*g Jan 11 S8I4 Mch 1
1,800 Distillers’ Securities Corp
12 Oct
60 Moh
200 Federal Mining A Smelt’g 17*4 Jan 28 36 Feb 16
88 Jan
37 Oct
48I2 Jan 11 6612 May 19
320
Do p re f____
16078 Jan
4,200 General E lectric______ d xH.iig Mch o' 16s% May 29 134 J ’ly
*734 Oct
$9% Sep
6*2 Jan 14
7~g Jan
6,100 Goldfield Con I f . Par *10
*83% Feb
125 ja n
Mav 6
120*2 121 +120 I 2I84 4,120 I nt Harvester stk tr efts 109 Jan 3 129%
12134 12214 1201* 12112 120*8 121
122*4 123
128*4 May 4 xllV Aug 129 Jan
1 2 2 t4 Jan 3
*123
1241*
300
>
Do
pref
stk
tr
c
t
f
s
..
123
123
1
l
3%
123U
1231*
1231*
•1231* 12478 *12312 124lg
4% J ’ly
57] Jan 30
7% jan
4*g Apr 20
6'4 *47g 6*8 *47g 63g 1.500 Int Mer Marine stk tr ctfs 15>2
5
6
514 6I4
6%
6*8
24% ja n
Jan 17 1.14 J ’ne 17
12*8 J ’ly
Do pref________
I 8I4 1734 1784 *171* 181* 10.650
191g I 8I4
18** 19% 18*4 ■“
9 J ’ly
16 Jan
9«g
Apr
27
13*8
-Jan
31
600
International
Paper
♦
101*
111*
11
111
*
If*
107g
*
101
*
*
10
l
2
107
8
11
• 101*
41% J ’ly
61% Jan
41*8 May 16 663s Jan 17
47U 471* 2.250
Do pref________
481* 481* 401g 48
491* 491*
50
*48
48*8 49
64% Jan
36% J ’ly
3812 Apr 18 44 Feb 8
760 Internet Steam Pum p___
42
42
*4H* 4214 411* 411*_ 411* 41*4
•41*4 <2% 41*8 41%
0O34 ja n
78% J ly
90%
J’ne
12
841*
Jan
26
105
*89
90
Do
prtef
9012
891
2
891*
*891*
90
•891*
90U
{90
90
•891*
9334
J
’
ly
116%
lan
114*2
Jan
20
102
Apr
18
0.400
IO8I4
108s*
Laclede
Gas
(St
L)
c
o
m
..
108 1081*
109 109% IO9I4 1091* 1087* 1091* 108*8 109
79 J ’ly
98 Oct
89% J ne23 96 Feb 2
200|Mackay Companies.
891* 90
*90
91
♦90
91
*00
91
*8912 91
•891* 91
7834 Oot
71 J ’ly
7418 J ’ne 16 77 Mch 7
*7378 747g *737g 747s *737* 747*
200l Do pref ____
•74U 74*4 74*4 7478 *737* 75
Apr 18 $22*4 J ’ ne21
217* 22U 22*8 221* 22I4 2212 2214 22*4 221* 221* 221* 225s 0,500 d 'la m ! Copper___Par (5 SI8I4
100 AUg 119% Deo
11714 Jan la 141 Apr
400.'VTatlonal Biscuit
137 137 *130 138 *13414 1391g 137 137
136*4 130 *13514 137
124
Jan
20 130 Feb 4 11834 J ’ly 125 ja n
400
1
'
Do
prof____
129
*128
*1271*
129U
129
*128
129
129
129 129
•128*8 129
14 Sep
16'i
May29
28%9an
18%
Mch
27
100,
Nat
Enamel’
g
A
Stamp’
g
17
• 151* 171* *151* 17*2 *151* 171* *15
17
17
• 16 17
84 Oct
96% Jan
86 Jan 6 90 Feb 18
. . . __
Do pref___
*86 92
*88 92
*86 02 *88 92
*88 92
•38
92
46% J ’ly
69 Feb 2
89% jan
60*g
Apr
26
1.825
National
Lead
6
6
65*4
60
6
8
68*4 68*4 683* 66*4 681* 60*4 561* 66*4
10514 Mch 24 109% May22 101S4 J ’ly 110% lan
•107*4 109*4 *107*4 109*4 *107*4 109*4 >108 109*4 *108 109*4 *108 10914 _____ I Do pref___
.17%
J
’ly
$22% Oot
0.150,dNev Cons Copper .P a r $5 $171* Apr 19 $21% J ’ ne 14
19*4 20
197] 20U 19*8 20
20
20U 20U 20s* 201* 203*
59 J n e
05% ja a
68 A or 27 751- J ne 19
9<XHNew York Air Brake____
76
*70
*70
76
74
751* ♦72
76
*70
76‘
•70
74
60% Nov
84 Jan
64 Jan 10 7634 May 18
7.400 North American Co (new)
*73*4 74U 73*4 74
74
741* 741* 74U 741* 74
74
74
227g J ’ly
43% Jan
23ig A pr 24 29% Jan 4
27
1,000' p a c i f ic Mall
27*4 27
27
•28I4 2712 *27
20-14 26*4 261* 26*4 27
30
J
’
ly
46% Jan
44
Jan
3,
54%
Jan
31
491*
6001
I
aclfio
Tclep
A
T
e
le
g
..
491*
.
49I4 491*
60
49I4 4 9 14 * 4 9 1 4 61
*50
6H* 60
800 People’s G L A C (C hic). 103 A pr 6 109 Jan 19 103 J ’ly 1163S Jan
1057g 106 *1051* IO6I4
•108 1061* IO6I4 1061* 1061* 106% 108 106
84 J ’ly 106% Jan
100 Philadelphia
Dk,lai1*inh' a Co(PIttsb’h)
n ./D u «.t.'k t 10012 Jan 3 1181-J ’ne 3
*112 116
1121* 1121* *112 116
13 J ’ly
2734 ja n
17U Jan 3 23% J ’ne
1,300 Pittsburgh Coal Co
22
211* 21l2 21*8 2 1% * 211* 2214 *21* ¥ll* *21
•211* 22
60% J ’ly
85 Jan
67*4 Jan 4 88% J ne 1
Do pref_______
851* 8G7g 2.400
85
86
*86 80*4 86 8618 *841* 86
*80
87
517* ja n
25 J ’ly
301* Jan 3 37% J ’ne
361* 381* 1.400 Pressed Steel Car.
361* 3634 381* 3612 36
86
387g 37
1 87
87
107%
Jan
90
J
’ly
92t4
Jan
3
102%
J
’ne
16
r
e
t
..
.
.
.
.
.
.
.
.
.
435
101 1011* 1011* 101*4 ♦10U* 102%
1 03
*10112 103 *101 103
Pub Service Corp of N J . lioig ja n 31 120 Feb
1*119 120 *119 120 *1171* 120 *1171* 120 *1171* 120 *117 120
159 Jan 3 163 Jan 30 155 J ne 200 Jan
Pullman
Com
pany---------277
•161
162
*161
162
{
1011
*
1611*
J16U2
I
6
H
2
162
182
>f 1611* 18U*
517] Jan
28 J ’ly
31 Jan 11 30 J ’nel4
2.700 K ailway Steel S p r in g ...
371* 371g 38
38*4 37
: *37*4 381* 3812 3812 37% 381* 38
92 Jan 3 103 J u o l5 z90% Sep 107 Jan
Do pref____________
100
‘ •102 1031* ♦lOlU 1031* *102 1031* *102 1031* 102 102 *10114 105
$161*
Apr
19
$18%
May
18
dRay
ConsCopper
Par
610
*1784
181g
1,900
17*4
1778
18
18lg
18
18
18
I 8I4
17*4 177,
457g Jan
27 J n e
35% Feb 6
29 4 M av-l
Republic Iron A Steel___
301* 3014 3012 3012 301* 30*8 301* 301* 3W4 301* 30*4 30*4 3,250
8234 J ’ly 104% Jan
92ig Apr 26 09% Feb
1,015
Do pref
_
93*8 *93U 94
93*4 937* 931* 935g 033*
04
04
•931* 94
150 J’ne 190 N ov
13ei2 May26 192 Feb
1,300
ears.
Roebuck
A
C
o___
*1401*
1411**1401*
14184
♦141
144
140?8
142
141
142
•142 143
86% j an
48% Dec
200 S loss-Sheffleld Steel A Ir 49 Apr 22 50% Feb 6
*49
61
*48
64
*491* 61
60
60
•501* 62
•60
62
$32 Jan 11 $44 J n e 13 $1934 J’ly $40% jan
421* 42I4 42*8 42*4 418* 4214 411* 4*14 40s] 4114 4 II4 4 18g 6.500 dTennessee C opp.P a r (25 rllS
134 Oct 144 Oot
J ne 15 136% Feb
120
120
120
870
*118
Texas
Co
(The)
*118
120
118
1181*
118
118
•115 118
63 Mch. 9 99% J’ ne 2 i
991* 10,085 I I nderwood Typewriter.
r93
031* 931* 94*4 93lg 941* 95
92U 05
041* 95
880 ’
111 1111.1 IIII 4 111%
Do pref____________ 103 Mch (1 113 - J ’ne 10
11134 111*4 •111 113 * 110% 111 *109 111
6 J’ly
13% Jan
9 Feb
7 MaylO
734
Union
Bag
A
Paper
*71]
73
4
*714
7*4
*71]
*7U
73
4
*7
73
4
*7
734
73 Jan
52% Dec
66% Apr 29 69% Jan 30
Do pref________
691*
691* *57
691* *57
6912 *67
69l2 *57
•47
691* *57
96 Aug 122 Jan
685 United Dry Goods C o s .. 100% Jan 27 108 J ’ ne 20
107 107 * 1 0 6 8 4 1071* * 1 0 8 8 4 1071*
•108*4 1071* 10712 10712 1071* 108
99% Aug 1137] Jan
102% Jan 6 107 Feb 18
100 Do pref
105*8 105*8 *105*8 107 * 1055s 107 >106 107 *105% 107 *1058g 107
32 Jan
14% J ’ly
15 Jan 10 19 Feb 23
U S Cast I Pipe A Foundr
177g *17
177g
177g *17
177g *17
*181* 177g *1012 177g *17
84 Jan
49 J’ne
50 Jan 16 r61 Feb 2.,
Do pref
6912
*57
501* *57
69% *56
—
•571* 591* *5712 591* *67
145 Jan
{93%
Dec
Jan
27
{105
95
Jan
7
United
States
E
x
p
re
s
s
...
*95
98
9S%
98
*96
*95
*96
08<*
*98
9812
•97
99
6434
J’
ly
84% Jan
79*4
May
29
65%
Jan
25
200 U S Realty A Im provem ’ t
*741* 761*
*75
T8% *76
77
76
76
77
*76
77
77
62% Jan
27 J’ ly
2,200 United States R ubber___ 36 Jan 6 477g Mch 1
40*4 40*4 *40% 41
40% 40% 401* 4 II4
41
401* 401* 41
116% Jan
99
J
’ly
I147g
Apr
10
109%
Jan
18
Do
1st
pref_____
115
>113
*113
11$
♦
1131*
1141*
*1131]
1141*
,•113 114 •113 114
84 Jan
69%
J’ly
79
Mch
1
72%
Jan
31
Do 2d pref_____
16
78
*76
78
*76
78
*76
{77
77
78
*76
*76
78
61% J’ ly
91 Jan
71%Jan * 82% Feb 6
7814 78*4 787g 7912 781* 7914 783* 787* 771g 7814 77*4 78*8 259.025 United States Steel
1207g Feb 4 110% J ’ly 125% Jan
116*4
Jan
Do
pret------------118%
1187g
5,731
118*4
119
118
1185*
118
1181S
•118*8 118*4 119 IIOI4
j i o $42% Apr 19 $62% J ’ ne 14 t$39% J ne $60% Jam
601* 31.000 dUtah C o p p e r ...P a r $10
61*8 60*4 611* 493* 601* 60
51U 617* 51
; 60*4 5II4
66% Oot
47 Feb
53*4 J’ ne 19 70% Feb 28
6 5 I4
657g 37,300 Vlrglnla-Carollna C h e m ..
63*4 51I2 541* 65U 647* 65*4 511* 65
64*8 657*
122% Apr 22 128% Mch 15 117 J’ly 129% lan
Do
pref______________
{124
1.065
124
•
1211*
125
*124
126
124 124
124 127
[•1251s 128
144%
Dec
195
.a n
177
May2b
{150
Jan
18
90 W ells Fargo A C o.........
•171 173 *171 1731* {173 173 *171 1731* { I721g 1721* *171 173
78% Uch
66 J’ly
71% Apr 18 84% May’ 24
estern Union T e le g ..
781] 79
4.800
78% 79
781] 79
! 80
80*g 8OI4 8OI4 *78% 79
82% lan
49% J ’ly
7o
May’
2
9
647*
Apr
19
10.110
Westlngh’
seEl
AMfg
assen
75U
7512
76
76
7614
761*
7714
76% 7714 76
74*4 75
116 Jan 14 123 Jan 5 110 May 130 Feb
tool
Do 1st pref.
;*110 1181s *110 II 8I4 ♦ 1 IOI4 1 1 8 1 8 1 * 1 1 0 1 ] 118*8 1181] 1181g 119 119
•240 248 ♦240 248 *240 248 *240 248 *240 248 *240 248
0%. *8%
9%
9
*8%
9%
*8%
9
*S38
0%
91,
•8%
33
*29
33
80% 30-%
29% 80
♦30% 3 3
*31
31
31
70% 71%
70% 711,
69% 70-% 70% 70%
70% 71
71% 71%
68
67
50% 67
67
*57% 68% *57
57
57
57% 57%
+ 101
*101%
*101
*102% ___
♦101
•101
54%
64
63% 51%
54% 55%
53% 54
633] 513,
53*4 64%
*98% 101
L0 Mi X90% 991, *99
101% *98% 101
•100 10134 ♦100
*93% 95% *0134 9.1%
*93% 95% *9J% 96% *93% 95% *93% 95
•134 1341, {134% 134% 134 134 *133 135 ♦ 133% 134% *13112 133%
11
11
10% 1 0 %
11% 11%
11
11% 11*8
1078 11
11
8534 86%
85% 86
85% 86
85% 85%
85% 86%
85% 85%
57
67
56
56% 56% *56
*56
58
66
57
66%
67
118 *115 118 *110
118
115% 116% *110
118
*110 118 ♦114
53
51% 52
*51
52% 52%
51% 51%
51% 51%
61% 51%
102
102
102
*99
11)2
*99
*99
*99
100 100
102
*99
<238 238 ♦236 239 *238 239 *236 239 *236 238 *235 238
5
*4%
5
5
♦4%
*4%
6
4%
6
5
*4%
4%
25% 25% *25
20
26
*25% 27
*25
25% 25%
20
28
22-g 24
23% 23%
23% 23*4
23
23%
23
23
*22
23
12
*11% 1134 *11% 11% • 11
*11% 1134 • 11% 11%
*11% 12
31% 31% *30% 32% *30-% 32%
*31% 32% *3134 32% *3134 32%
42
42% 42%
42% 42% *41
43
42
*41
*41
42%
42
<109% 109% *108 111 *109 111 *108 111 *108 1 1 0 % *108% 110
5
*4%
5
4%
4%
*4%
5
*4%
.5-%
4%
4%
4%
3534 37%
37% 39
41% 41%
41% 42%
39% 42%
35% 3534
88%
88% 88% *88% 88% *88% 883., *88
88% *88
88%
*88
82% 82%
82
82%
807g 82
x80% 81%
82% 82%
81% 82%
• 107 108 *106% 107% 107% 107% 107% 1077s *107 107% §107% 107%
*250
*250
*250
*250
*250
*250
*90% 100
99
09'
*96% 90
*97% 100
*97% 100
*90
*90
41%
41
*42% 43
42%
41
42
4178 41%
*42% 43
41
120% 120% llO% 119% 120 120 *119 120
119% 119% *1187* 120
110% *118 120
119 *118
119-% *117% 119% *117% 119% *117
*118
151% 151% 151% 151% 147% 151% 147% 148% 148 148% 148% 149%
0534 00%
95% U&14
98
96
*95% 00%
96
96
95% 95%
31% 3 2
32%
31% 32
*32% 33*4 *3234 33%
33
33
32
0 1%
91% 93% X91
95% 95% *94% 95-%
94% 95
95-% 95%
29% *28% 29% *28% 29% *28% 29% *28% 2912
: *28% 29% *28
39% 40
39% 40%
41
41
1 40% 41%
40% 41% *40% 41%
33
34%
33
34*8 3 3 %
3334 34%
*33
33%
33% 34% *33
6 .1 %
62
62% 627S *00% 62%
6334 0334 6334 64%
63% 63%
141 *142% 144 *142% 144 *142% 144 ♦ 1415*2 144
*143 144 *143
*9% 10
*9%
10
*9% 10%
10
*9% 10%
*9% 10%
*29% 31
*29% 31
*29% 31
*29% 31
*29% 31
*20% 31
30% 31% *30% •2**2
31% 31%
3134 31%
31% 31%
311, 311,
100*, 100% 100% 100% *100 101 *100 101%
1001, 100% 101 101
24%
24
24%
24
24
24% 247S 24% 2434 24% 24% *24
35
34% 3658
3434 35
35
347« 347,
34% 34% *34% 35%
14544 145-% 144% 145% 1447g 145
*14534 146% 146% 146% 145-% 140
147g 15
15% 15%
15% 15%
15% 15%
15% 16%
1478 15%
83%
8234 83
*82
84
81
84
*83% 83% *83
*83
*83
37
38
37
36% *36
37
36% 37
36’ 4 36.% *36*4 37%
40
*281*
33%
40
40
33
40
*34
40
*33
*33
1 *33
*64
60
06
66
*64
68
65% 651,
64% 04%
: *64
67
1633s
1633$
163
102
1 102% 102.% 1617J 1C5U 163U 16314 163U 163*4
0%
6
da
fi
nip
6
a
QU
703sJ’ly
%J’ly
:.»iou*
BANKS AND TRUST COMPANIES— BANKERS' QUOTATIONS.
Banks
' Brooklyn
Broadway 1
Coney Isl’d t
First ............
H llls ld e f...
Homesteadli
Manufac’ rs
M echanics’ll
M o n ta u lt_
Nassau ..
A sk
385
290
416
226
260
400
155
310
125
11 S
430
240
160
270
Banks
Brooklyn
Nat C it y ...
North Side
People’s __
Prosp’ctPkK
BUi
A sk
285
150
158
135
300
170
165
145
I
Irust Co’ s
N Y City
1 rust C o’ s
Guar’ ty T r.
Guardian Tr
H u d s o n ___
1000 1060
Knlckerb’kr
310
300
___ Law T I&Tr
f 106
LlDcoln Tr
310
300
6121, Manhattan
600
. . . . 1525
Mercantile .
Metroooi't'n
230
220
Mutti&i
310
300
Mut Alinoc
BUI
B'wajr T r . . 1149
Central T r ..
Columbia . .
Commercial
E m p i r e __
Eqult’ ble Tr
1rust Co’ s
Farm Lo&T
Fidelity . . .
N Y City
A s t o r ___
347% 357% F u lto n ____
700
Bankers' Tr 690
A sk
....
UUt
800
136
140
285
250
125
390
740
475
132%
126
Irust Co’ s
NY LKe&Tr
N Y Trust.
150
Savoy_____
Standard Tr
296
VltleGu* Tr
13*5" . r Co of Am
Union T r . ..
410
US MtgA Tr
760
Unit States.
485
Washington
130
Westchester
W in d s o r _
A sk
82$
A s*
Bid
1100 1120
625
600
___
90
390
405
485
495
370
1230 1250*
485
475
1150 1175
376
360
160
150
103
95
B id
i rust Co's
« / ookiyn
Brooklyn 1Y 440
Citizens’ ___ 120
Flatbusb . . 200
Franklin___ 180
Hamilton . . 2 >6
Home _____ 100
Kings Co . . 505
L Id L A Tr T319%
N assau___
15$
P e o p l e 's __ 800
yueeos C o. 100
Ask
450
130
216
196
276
110
166
310
Hi
• •Bid and asked prices: no sales on this day, {Less than 100 shares. fE x-rtghts. 5 New stock, e E x-d lv. and rights, d Now quoted dollars per shar*
• f Sale at Stock Exchange or at auotlon this week, s E x-stock dividend. iBanks marked with a paragraph (11 are State banks.
N e w
Y o rk
S to ck
E x ch a n g e — B o n d
jgrx.\ UO'J, tk eK xeh a ru jejn etk od ^ t qitotin7 bonds
RONDS
. Y. STOCK EXOHA NOTE
W kkk enhino J u n k ‘23
t « ?% m u veriiiiiem
U a ‘j » consul registered.^ 1930
U 3 2s ooufwt couiiou___1(1930
U 3 3 b registered............A lo is
U 3 3s coupon................... *1013
U 3 3s cou small b ond s../clolb
U S 4s registered................n*25
U S 4s cou pon .....................1020
U 3 Pan Can 10-30 yr 2s.*103U
Price
fruiati
June 23
Sill
Ask
ionG lo o
l o o t , .......
lu l Hi 102*4
IOIHi ..
R e co rd ,
F r id a y ,
W e e k ly
a n d
Y e a r ly
changed. and vrleas are now a l!r-’’ n n i interest’’ -e x s e p i lor income and defau lted Hands.
Week’s
Kanye or
Last nale
ROM) »
N. Y. STOCK E X d HA NOE
W kkk Enimno J unk 23
Low
Mi g
101
102
101G
Price
tridau
June ‘23
Week’s
Kanye or
Last ■'•ale
Jiiyh Oeutol Ua B it—(c o in
Sia
Asic Low
Jiiyh JSo Low High
u u i8
3d pret income g 6s stamped.
06
08
85 G Oct ’ 10
Chatt lu y pur mou g 4 s .1051 J-D
Ml*,
........
88
G
87G Feb’ l 1
>7*8 87*s
51ac As A or Div 1st g 6s. 1046 J-J 106 . . . .
103G
106G Mar’ l l
105 106 G
511d Oa As A t! DIV 6 s....1047 J-J 105*4 .
102*4
Noy’ofl
Mobile Div l s t g 6s....... iVGti J-J 100G IMG 115
10
0
*4
Jbiv'l
1
108*4 109*4
114
Oen Kit As B el Uu col g 68 1037 M-N 102*4 M3*., 101 G A p r’ l 1
114 116
101 G 102
114
U 5 G H 6 G O eutol A J geu’ l gold68.10S7 J-J 1'22 122G 122*4 122*4
123 123G
100
R egistered................ n 1087
“ 122 G May 1 1
100 G 100 G
J 122 122*4
122 123G
Am
Duck
A
s
Imp
gu
6
s..1021
107
Hale
J
M7
fo r e ig n U ovoniinent
107 108*4
Le As Hud R gen g u g 5s 1020 J-J 103 G ....... 107
Argentine—Internal 5s ot 1900 M. 8 \ 97G 97®» 97 G
97** 11 07G 99
Dell As Wilks B Coal 5 s ..1012 M-N 10OG. .. 100G A jir’ l 1
Imperial Japanese uuvoruuri
100 G 100G
N Y As L o u g B r g e u g 4 s 1041 M-S
00*8........ 99*g D eo’ lo
Sterliug loan 4 'as.......... 1026 F-A t 04 Hi 04*h 04*a
04*4
93*8 95*< Oent Pacino bee 80 Pacilio Co
2d series 4Gs............... 1025 J -J ' 04 14 Sale
04*a
04 >9
93*8 95*4 Cent Vermont 1st gu g 4s.«1020 Q-F
90
00*6 S9*,
90G
2 87 G 92*4
Sterling loan 4 s ............1031 J -J J 88*s 8 ii:|b 80 May’ l l
O'has As aav bee A tl Coast Line
87
G
90
Repuliot Cuba 5 b oxten d eb i.. M-S 1........ 103
M2 G 1 '2*4
d ie s As Ohio gold 6s........a lO ll A-O
102G 1»4
100 N ov ’ 10
External loan 4 G s ........ 1049 F-A t 0 8 G 00
09 J ’ ne’ ll
07*4 lo o
Uen lundlug As unpt 5s. 1020 J-J 104G 105 101G J’no’ l 1
San L’auioiBraaib trust 5s 1010 J J t 07 *s 07*8 07 G J'ue’ l t
1o*278 106 G
1st uonsoi g os................ 1030 M-N 112G Salb 112‘4 * 12 G
97
97 G
U a o! .Mexico 3 1 g 6a 01 1800
t 05 Hi 00*8 98
08 *41
111 G n a G
Registered................... 1939 M-N ........ 112G 11 1*4 May’ 11
95*4 98
Gold Is ot 19U4...............1054 n
111 *4111*4
.. .. 02*s 01 *8 J’neT 1
General gold 4 Gs........... 1002 M-S lo
9 1 94 G
1
*8
Sale
HUG
m
l
G
27 100*8 102
hese a re pr ices 0 n Ui“ b asis o f $5 to £
\T
Registered....................1002
100 May’ l l
S ta te and City S ecu rities
M-S
100 100
Convertible 4 Gs ........... 1030 F-A
9*8
Sale
96
06G
N Y City—4 G s ................. 106U M-S 102 G Sale 102*4 103
103
94
97 g
65
Big samiy 1st 4 s ........... 1041 J -D
85
87 G 87 May’ ll
4 '«s recta lnt fro Jan 24 lod o M-S 104*s sale 104 G 101*8 022 100*4 103
H7
89
Coal R lv lty 1st *u 4s ..I0 4 o J -i:
10OG 104G
83
85 May*n
4% Corporate Stent....... 1050 (M-N lo o sale 100
85
85
100G 16 08G 100G
Craig Valley l s t g 6s___104U -J 102G 86 102*4 A p r’ l 1
4% Corporate stock ....1 0 5 8 M-N 100 Sale 10U
102*4 103
lo o 1
Potts
Creek
Br
1st
4
s
..lu
io
98
G
lOi'G
80*,
00 Jan 'OO
-J
85
Mew 4 His.........................1057 51- N 108 7a sale 108*4 100 G
R AS A DIV 1st COU g 4 s..1080 -J
106G I09G
OSG 06*4 05 G J 'n e T l
N ew 4 His.........................1.>17 M-N 102*4....... M3
103
95 G 06
2d consol g 43............... Map -J
101g 103
00
92*4 0 3 '4 J’neT 1
4G% Corporate Stock ..1057 M-N lOS*, sale 103*4 lOO
00 G 02*4
Warm
s
p
r
Val
1st
g
6s..lU41
106G
100G
-8 106 108G 113*4 I- e b ’05
4G% assessuit bonds___1017 M-N
103
102
102
103
Greenbrier
Ry
ls
t
g
u
g
4s
’40
95 Oct TO
4% Corporate s to c k ___1037 M-N 100 ' 100G MO
'hin As A
Alt.
17 It
K rel
vu 1 gi. 3 s.. .1040
an •N 86
lo o G
lt It
08*4 100 G Chic
A-O
73*4
May’
l
l
72*4
73
N Y state—Canal lmpt4s.l0iiU J -J
72 G 73*4
100G J’ n o 'll
Kailway 1st Ueu 3G s.. 1060 J-J
104G 106G
68 ‘4
So Carolina 4 ‘as 20-411.......1033 J-J
68 Sale 67
07
08 ........ M3 G J ’l y '10
71G
Registered......................
Tenn new seuioineut 3 s ..1013 J-J
J-J
75 Oct ’00
07
08
07 May’ l l
08
97
d u o Burl As y —Deny D 4s 1022 F-A
Virginia tunu (tout 2 .3 s... 100i J-J
90
G
J
’neT
1
00G
99
7
i
09
86*4
99 G
8 0'
1040
80
80
G
Illinois
D
lv
3
G
s..............
6 b deterred Brown Bros etts.
J-J
88
8,1*4 88 G 87*4
13; 87 G 88 G
67 G Sale
68'.
40
67 G
Registered....................iy .iu J-J
88 Sep TO
Ilia Div 4 s ..................... i<j4y J-J
R a ilroa d
99 G Salt,
00 G 00 H 23 00;G 100 G
Iowa Div sink lund S s .iio ly A-O 104*4
Cent bee Wo lty
105G J’ ne’ l i ...l 105 G 105 G
A labama
Sinking lund 4s.............n a y A-O
laba 51 ldl see A t Coast Line
00G 09G 0 0 G May’ l l ...ll 09*4 00G
Nebraska
exioubiou
4a.1027
M-N
Albany 05 Susa nee Del A lluu
99
99V 00 J lio’ l 1 ...I 06G 99 G
Registered......................
M-N
Auegueuy Valley Era Penn RH
98G Mar’ l l ...l| 0 8 'a 98>»
Soulliwesteru Div 48. . . . i y 21 M-S
Alleg A West nee Bun R A P
09 F o b ’l l ...ll 99
99 ...
09
Joint
bonds
bee
Dreat
Aortu
Anu A rbor 1st g 4s.........A1006 Q-J
80 G 82 G 81G
82
78G
85
Debenture
6
s..................
..
M-N
101*4
Atoll T A S U'e—Ueu g 4s. 1005 A-O
101
G
101-G
101G
9 1 0 1 101G
90
U8G Sale
08 G
08
09G
Oeneral 4s........................ ..
M-S
Registered........................ 1005 A-O
96
G
yd
's
sale
06G 50 j 96*4 98
97 G May’ l l
07*s 08*, ClucAs e Hirer us impg 4a 1055 J .J
81G 82
Adjustment g 4s.......... /tlOOO Nov
82
01G 02
81G
37 I 81
83
91*8
01*8 1 00*4 02 G 1st consol g 6s................. .1034
A-O
R egistered ................../U0U6 Nov
1; 126*8 127
02 J a n ’ 101__
. ..
Ueueral consol 1 st 6s .. . I 037 M-N HOG Hale 126*8 126*8
3 tamped...................... lilOOo M-N
h u g lU G H 1 G J ’ue’ 11 ...J 100*4 11 1G
91*8 Safe” 91*»
O tV 33 90G 92 G
Registered...................
10^7
M-N
Cony 4s issue ot 1000...1055 J-D
108*4 Mitl i i . . 108*i 108*4
114"a J’ ne’ l l ___
Clue As i m i c lty 1st 6s.l03b J-J 100*4
CoilV g 4s..........................1P53 J-D 113 Sam IM G 114 217 105 l!4 * s
100G M a y'll ..I 109*4 ni)>4
Cony 4s (issue on 191(1). 10(JO J-D 104*8 Sale 101G lo o '033 105G 115G ChloagoAs Erie bee Erie
102G105G
Ohro
Gt
W
estern
lst4B
...1959
M-S
10-year conv g o s ........ lo l7 J-i) 112 114 L13
85G
86G 5 l 8-lG 86 G
114 G 170 108G 116G Uluu lu0e douisv roi 6 s . ..l y 4 1
Debentures 4a Series J . 1012 F A
127G 1281® I 28 Slay’ l l
.J 127 128*4
0878 J au ’ 10
.................
Refunding gold 5s............1047 J.
Series K.........................1913 F-A
111 u p i ’ l l
u .T G m
.J ill
111
00*4 May’ l l1 "
09*4
09*4
R
efunding
-is
Senes
C
..l
9
i
7
j
East Okla Div 1st g 4 s ..1028 M-S
95“s Apr ’ l l
..II 05
95G
00 Hi 0 7 'g 06 G J ’ne’ l l
96*4
97G
,
„
L‘our
1,,v
A
v
*
s
do ist ijs .iy i l p . a
lOuG
May’
1
1
abort Line 1st 4s g .........105s J-J
..1 100G lbuG
93 Hi 03\ 03 G J ’ne’ l l
02
G
04G
Chio
Iud
&
Sou
50-yr
4
s..
1056
j
02 02 G 92 J ’n eT l ..H 02
a Fe Pres As Pli I s tg 6 s .l0 4 2 M-S 1031* 100 H. lOO-j May’ l l
03 G
lO'J
G
10
j
G
ChioM
ii
A
s
s
t
p
term
g
6s
1014
j
Atl Knox Jb N Set L A X
102*8
102 G H'2 ‘8 2
_ 102*4 102 G
Ueueral g 4s series A . .<1080 j
Atlantic Coast 1st g 4S./H052 M-8
98 G Sal e
98*4
OsG' 24 USG 99G
95 G 95*4 95 G
96 G 01 93*4
08
Registered.......... elOb'J
Ala Mid 1st gu gold os ..1028 M-N 1077s 100
99
■
*
Jau
’
u
1
00G 00 G
08 Mai’ H .
108 108
C eneralg 3 Gs senes B.slOso
Bruns As VV 1st gu g 4s .. 1038 J
88
7 86*4 88 G
87G 8 'j' 88
05*s........ 0 6 G Mar’ l l .
05G 06G
25-yr deoen 4s ................ iy a i
Charles A Say 1st g 7 s.. 1936 J-J 138 '4 . . . . . .
92 G Sal6 92 G 02 G
4 02
................. 1.
93 G
Chio
A
s
L
Su
Div
g
6
s
....1021
L As N coll g 4s............. olU52 M-N
0 4 'a sale
106G 107G 106*e May’ l 1!__ 106G 107
04
04 G|
Clue A; 31o Hiv Div 6 s ...1026
02*4 9 6 G
SavF’ A W 1st gold Os..1034 A-O 120 128
100*4
108*4 Apt T 1
108*4 100
26
126 I
ClllOAs P VV l s t g 6s.......1021
12 4 G 126
1st gold 5s.................... 1034 A-O 111
107
*
4
108
107
-4
J’
neT
1
.. I 116G 107G
110»» M u y'll
Dak As (it So g 5s............ i «j m
HOG 111G
Sil Sp UCa As U gu g 4s ..1018 J
103G 101G 103*8,1’ne’ l 1 .. 103 V, 103 G
U7 G May’ l l
07 Hi OS
Dubuque Div 1st s f 68.1020
07G 07G
114 .
114 G May’ l 1 . .1 1 1 H 4G
Atlantic As Dany See South lty
ra i As ouu assu g os....... 1024
117
G
Jau
T
1
........
U
6
G
Austin As M VV nee Sou Pact lie
.. 117*4 117G
EaCl'OSSO As D 1st 08....1010
1 05G D ec’ 10
105G
L?ait As Ohio prior 1g 3 Hio.1025 J-J
OlHi 92 *s 02 G I ’no’ 11
92 G 93
Wis As Minn Div g 5 s...* l0 2 1
106G ...I I 06G 106*4
*-> Registered............... /tl026 y-J
lull 's 107 G
01 G M ayM
91G
MU As No 1st cons 6s. 1013
91
G
01
G
103
G
.
1
U
3
*4
F
o
b
’
l
l
Gold 4 s .........................../tl04a A-O
103*4 103*4
08 G Sale
08 G
98 G 45 08
Extended 4G s............. 1013
09 G
loog
R egistered................./tl048 G-J ........ Us\ 03 May’ l l
97
98 G Chic As A ortaw cons 7 s.. .1015
100*4 i 10 110 J’ne’ l l '
Pitts J uuo 1st gold 0 s ... 1022 J-J 112G ___ 12 G Dec T o
100*4 11^
Extension i s .........1886-1026 F
PJ un As 51 Div 1st g 3 Gsl026 M-N
83*4 May’ l l
88 ...................
97G 0 9 G 00*4 A pr 11'
08
09*4
87 >
4 88*4
Registered.......... 1836-1026 F-A
90 May’ l l
P L E A VV V aSys ref 4sl041 M-N
Ol G 01*4 01 Hi
9 7 . 08G
91 v 17 01
General golu 3 Gs............1087 M-N
92 G
Soutliw u iy 1st g 3 G s .. .1025 J-J
00*4 Sale ' 90*4
'
86
G
86
G80*4
87G
9 1 G 28 83 G 01 G
80G 8 8 G
R
egistered.................7)1087
u-fc
R egistered ................./il025 G-J
03 G A p r’OO1
88 '4.......
80 G A p r’ lo .
General 4 s .....................10 8 . ALN
Con Ohio R 1st cg 4 G s ..l0 3 u M-S
08 ....... 103 Mar’ 10 "
0S*s Sale ” 98G
08 G| 59 98G 99 G
sinking lund 6 s.. . 1870-1020 a -o 111G ........ 112
Cl Lor As VV con 1st g os 1033 A-O
J a n ’ l l I, .. .1 1 2 112
UO Dec ’ 10 ”
Registered..........
1.870-1020
a
o
Motion Rly 1st gu g o s ..1010 F-A 102G 105 102G F eb’ l l
H og
IM
G
N
ov’
OO’
;
Sinking lund 5 s ...1870-1020 A-O
Ohio River R R 1st g 6s. 1030 J-1J 100*8....... 100 e A p r’ l 1 ... 102G 1 02G
107*8 108*4 107G I0 7G ' " i iu e ” io fS i
Registered.......... 1879-1020 A-O 107*4...
109G 100G
General gold 6s............ 1037 A-O 106 103 109 >-i 51ay’ 11
107G May'l ll
. 107*4 107 G
Debenture
6s...................1U21
a
o
107
100G
Pitts Clov As To! 1st g 0s 1022 A-O 113 G ....... 113G F eb ’ l l .. .
........ 106
106 F o o T l ’ *... 106 100
Registered.....................1021 A-O
113 G 113*4
1U6 G Fob T o
Pitts As West 1st g 4 s ... 1017 J-J
07*8.......
0?G F ob’ l l .... 07*8 97*i
Sinking
lund
deb
os.......1033
M-N
100
G
.
.
100G 100G ””l i ’08G 100 G
Stat ial lty 1st g u g 4 Gs 1043 J-l)
80 ....... 100 N ov’t)4__
Registered.....................103^ M-N 103G . . . ”” 107*4
A p r’ l l
Beech Greek nee N Y o As a
MU L S A West 1st g b s 1021 M-S 1HG 115*4 115G 115G . . . 107 G 108 G
Bollev As Car nee Illinois Coni
10 115 115 G
E
xt
A
Im
p
s
fund
g
Os
1020
F-A
Hu
.
.
.
.
111
Vlay’ 11 . . . 100G H I
Bruns A West nee A t! Coast L
Ashland
Div
1st
g
6s..
1026
M-S
117 G ........ 142 G F e b ’02
Builalo 51 Y As Erie nee Erie
M idi Div l s t g 6s........ 1024 J-J
118
J
a
u
’
l
l
117
G
........
Bnltalo It As P gen g 5 b. ..1037 M-S 113*8..
I
" ii* 8 " i i s ”
112*4 May’ l l
Ohio Rock lsl A Pac 6s.. .1017 J-J 10DG........ 1O0G J’ neT l .. . 1U0G HU
112*8 113
Consol 4 G s ...................... 1057 M-N 108*8 108*4 108*6 *'no’ l l
Registered.....................1017 j . j 109 G ........ 100 Aug’ lO
108*a 108*6
A ll As West l s t g 4s gu..i0U 8 A-O
OS’s 100
07 Feb’ l l
97
07
General gold 4s................lo s s J-J
07 G
07 G 61 06
Cl As 51ah 1st gu g 5s___1043 J-J lOO . . . . 103 J ’l y ’08
97 G Sale
OSG
Registered.....................lys^ j . j ........ 07 G 0S*4 Fob TO
Rooli As Pitts 1st g 0 s...1021 F-A 114G . . . . 11IG J’ ue’ l l
Refunding g 43 .............. 1034 A-O
80*4 50 88 G "OO"
Consol 1st g 0 b.............1022 J -0 H O G ..... I 16G Mar’ l l $ 10 114 G 114G
80*4 80 G 80G
U 6G 110G
Coll trust Senes J 4s___1012 M-N
07
G
J
’ly
’
1
ol
Bull As Huso 1st ret g 4s.dl061 J-J
72 Mar’ lo
................................1010 M-N
90G J ’no 1 1 ___ 96G 0 7 '4
OO', 07
Bur C R A N nee C It 1 A P
R
................................1016 M-N
96
So 1st ext O s ............1013 J-J ........ 102 G 102 G 10'2*8
96G 01 Deo ’00___
Clan
102*a 103 7»
9 .48.................................1017 M-N
04 G May’ 1 0 ___
'2d 6s................................ 1013 M-S 100G 101 '4 10OG 10UG
95G
100G
101*8
R * ? * y ........................... 1018 M-N
04 7 J’neT 1 ___ 91*4 04*4
Registered..................... 1013 M-S
94G .. ...
100*4 J a n ’ l l ,
100*4 100*4
Chio It l A Pac RR 4 s ..2602 M-N
76
76G 195 72G 77
Carb As Shawn nee 1U Cent
76 G Sale
Registered................... M N
74G F eb ’ l I . . .. 74 G 74*4
Carolina Cent nee Scab A ir L
R 1 Ark A Louis 1st 4 Gs 1034 M- S
04 J’ neMl . . . . 03G 04
03
Carthage As Ad nee n Y C As 11
04
Bur C R A A — ls t g 6 s .103 1 A-O l U G .
Ced It la 5 As N nee B C R As A
1 11 G H 1G 10 1H G 112 G
Registered................. 1034 A -o
. 120G Mar’03
Con Branch lty nee -Mo Pao
OKIE A N VV Istg u 6 s.l0 2 1 A-O 106 ’ ” ” .'106G F ob ’ l l ... ioiiG i(J6G
Cent ol Ga R rt 1st g 6 s..p l046
A 112
112G J'ne’ i l .
112G U 4G
M A St L 1st gu g 7s.. 1027 J-l) 102G103 i......................
Consol gold 5s...............1045 M-N 108G 108 G 108*4 108G
107'4 100
Choc Ok A u gen g os .o i o i y J . j 102G 103 102*4 May’ l l
Registered.................. *1045 M-H 105 108 113 A p r’OO .
ii)2 G 102*4
Consol gold o s .L .........1002 M-N lu7 108G 199 G Fob’ l l
le t pret income g 5 s....'»l0 4 6 Uct *00 101 101
.. 100 G 100G
101 |
100 108
Kook A Des M ls t 5 s ,...1 0 2 3 A-O 101 102*8 109 J ’no’ l l
Stam ped........................
.. 100 103
*90 101 106G May’ l l .
1U0G
106G
luo
St
e
A
18
o
bee
1U
Cent
2d proi income g 6s
p'l046 Oct *08 102 100 J ’n e 'll .
05 MOL
luo s t L A Pitts nee fc’enuCo
2d piet income g 5s stamped
*08 102 100 May’ l 1 .
100 100
JlllO St P M A U cou 6s . ..1030 J-D 121*4 I
125 J’n eT l , ••124 125G
3d pret income g 5s___ p !046
08 100 J’no’ U .
85 102
Cons 6s reduced to 3 Gs.1030 j - l )
1 03 D ec’03 .
88 G .
JllsC E L L A N E O D -S BON DS—Continued 011 Next 1’ us
S treet H uilw ny
S treet R a ilw a y
Brooklyn Rap T r g 6s ... 1946
103*4 Sale 103*4 104
102 104
Met St Ry gen coi tr g 6s 100( F-A
77 G ........ 79 J ’ n o 'll
' un,r.?5UIf,i oonv 8 4 s ....2 0 02 J - J
85G sale
73G 79
Ret g 4s .......................... ..
84G
85*t 158 82G 8 8 G
A-O
77 G 78
48 May’ l 1
5s.1916.1041 J .J ........ 102 G 101 G J’neT 1
4 5 G 43
101G 103
Bway A 7tli A v 1st o g5s 104; J -D 101
102*4 102*4 j ’ne’ i i
u v ^ 7. ll ao.C0Q 8** g 53.1041 M-N
HUG 102*4
98 D ec’ lu
Col
A
9th
A
v
1st
gu
g
0
3
fy
y
M-S
R k Q Co & 8 1st 58__ 1941 J .J
OOG........ 100 J a il’ l l
100 101
L e x A v A F F lstg u gos'lO O b M-S 100 Sale 100
Bklyu Uu El l s t g 4-68.196(/ f-- a lO lG 101G HUG 102
mo
90 G 100
100G 102G
Third A vo HR con gu 4s 2000 J-J
Stamped guar 4 -os....1050 F-A I0l*s 102 G 102 May U
69
G
J’
mo’ 11
60
70 G
160*4
102
Cent T r C ocertfs strand
K ings Co El 1st g 4s . ...10411 t’ . A
GS Salt
07*8
68*4
58*4 70*4
8 4 G ........ 84G D ec’ u
Third A ve By 1st g o .,.. 1937 J - J 109*4 HO UO
. Stamped guar 4s ........ i y 4y t’ . A
110
100 111
85 Sale
85
85
82 G 86
N
Orl
Ry
A
Lt
gen
4Gs
..1035
J-J
84
87
. Nassau Elec g u g 4 s . ...1051 J-J
85 May’ l l
80 G Sale
84
85 G
SO
80 G
78
81
St Jos Ry Lt II A p 1st g os *37
Conn R y A L 1st A ref g 4 Gs’ 51 J J 101*4 102', 101*4 A p r’ l 1
08 ........ 08 N'ov’os
101*4 101*4 s t Paul City Cab con e Ca 1037 M-N
J-J 106*4........ 106*4 A pr ! 1
" Stamped guar 4 G s ........ 1951 J-J 101*4........ 102 J’neTl
106 106G
101 102
Tri-City
liy
A
Kt
1st
3
t
S
sil'lm
Det United 1st con g 4G s.l03‘* J-J ........ 82 G 82 '4 JTie’ 11
08**8
03G 93G U8G
07*4 00
80 G 82*., UnderKround ol Lon 6s ... 1020 A-O
Havana Elec consol g 5s. 1952 F-A
M-N
08 A p r’OO
97 Mar’ 11
04G 07G
4 G s...................................
Intor-M et coll 4G s............1956 A-O
J-J
05 J’no’ U
94*a 07
78 Sale
OOG 05
71G
78*4
77
G
80
Income
6
s
........................
.
Tnter Rap T Ob Ser A __ 1052 .vi-N 103*8 l t 4 G 104G 104 G
66 67 G 66 G
38G 05 G
66 G,
103‘s 104 G Union El (Chio) l s t g 5 s ..1045 A-O
Internat Trao coll tr 4 s..1940 J-J ......... 80
84 Oct *0b"
67 G Mar’ lu
United
Rys
St
L
lo
t
g
4s.
1034
J-J
ManUa Elec 1st & coll 5s. 1053 M- S
70*4 8 1 G 80 Aug’ lO
90 ........ 98 May’ 06
United R R b San Frs r 4 s .1027 A-O
70
70
COG 70
60
72G
« Due May p D u e J ’ne A D u e j iy fcDue Aug oDao dot p-DuoNov « Option Balo
Lota
High, Ko
lu i G A pr 11 . . . .
M l M ay'll
102 A p r ’ l l
101G 51«y 11
1 0 LG J ’ ly ’ ll)
116 11 4G J’ ue 11
115 116 A pr ’ 11
100*, 100 G J’ne’ l l
Kanye
Since
January 1
1
June
24
1911. |
BONUS
N. Y. STOCK E X C H A N G E
W kkk ending .Tune 23
1689
New York Bond Record— Continued— Page 2
Price
Friday
June 33
Wee ids
Ran ye or
Last Sale
Ran ye
Since
’ » * January 1
BONDS
N. Y. STOCK EXCH AN G E
W kkk Ending J une 23
Price
Friday
June 33
Week's
Ranye or
Last Sale
San ye
since
January l
l H u m
r i e * Pitts see Penn c o
I
B id
A sk / - w
<)(>
ASF jOv> Uiyh No Low Hl<jh E
112*8 1 18
Ohio St J? M & O—<Con)
i2 4 M a y ll
124 125*8 Evans ib i ' 11 1st cons 6s. 1921' j - J i i i 2 * 4 .----- l102
101 102
J’ ne’ i 1
Oil St P ib Alum Late 6s 1918 M.N 123*8 ........ 2 44 May’ l 1
lstgen
eral
gold
6s.........1942
A-O,
ljj2
102*a
29*a Mav’09
Nor Wisconsin 1st Os...1980 J-J 123*8 126
A
pr
’05
114
Alt Vernon 1st gold 6 s ..1923 A-O, 10<l
11*81124
St T & S Uity 1st r Os...1019 A-O 112*8 112*4 12 4 J ’ne’ i 1
95 J ’ ue’U8
Sud
Co
Branch
1st
g
6
s
.1930
A-O,
9o
.09 1094
C h ic* W estiU (lgong6s()1932 Q-M 109 ........ 09 4 J ’ ne 11
,’argo ib So See Oh Al * St Pi
92 4 9 3 4
92*4 9 34 03 J ’ne’ i 1
Consol 60-yoar 4s........... 1952 J . J
lint ife Pero Al .Sc« Pere Alar
Clue & W M id i see Pore Marq
Fla c <b Pemn see ^ea Air Dine'
95
08»b
J’ne 11
Clioc O & Cult nee 0 111 & P
97*3 98
a n 1014 Florida E Coast 1st 4*23..1959 J-D
Aug’ 10
Cln 11 <&> D 2(1 roHI 4*08...1987 J-J 1014 1014 1014 May’ l l
90
95
5 1(124 104*4 i o r l S l U D Co IsL g 4 “38.1 9 4 1 j-J
82 4 "8 4 4
(18*4 103*4
Cln D tb 1 1st RU g C8...1941 M-N 103 4 105
83 «8 84 *v 83«BJ’n e '11
Ft
W
ib
Rio
Gr
1st
g
4
s
.
..1928
J
-J
88
88
88 Mar’ 11
87 4 90
C F in d * F tW ls t g u 4s g.’ 23 M-N
i >al l l a r i b S A see So Pac Co
88
88
97*3 98*3
07 S, J ’ne’ i 1
8 8 4 ........ 88 May 11
Oin 1 <fc VV 1st gu g 48.1953 J-J
98 100
' ~*al H ib H of 1882 1st 58.1913 A-O
103 105
Ind Uec ib W 1st g 5 s . ..1936 J-J 105 1...... LOO May’ l l
Georgia ib Ala See sea A Dine
107 4 Deo 02
1st guar gold 6a...........1935 J-J
Ga Car & Nor See sea A Dine
O l B t L d s C nee O O C * St 1,
Georgia Paoilio See So Ry
Oin S & O See C 0 C St 1,
Gila V G ib Nor See So Pac Co
Clear held * Mali See B K <fc P
Gouv ib Gswegat See N Y Cent
944
94 4 32 9 3 4 95
0 44 Sale
Clev Cm C & St 1j gen a 4s 1993
Grand R a p * Ind See Penn RR
02
92
92
Fob’
l
l
9 2 4 ........
Oalro l lir 1st gold 48....1939
Gray’s Pt Term See St D S W
91
034 93 4 Dec-10
97*3
97V 216 95*3 98
Olu VV <b M Div 1 stg 4 s .1991
97 «8 Sale
Gt Nor—C Bib y coll tr4s 1921 J .J
..
..
”92
4
’
O
T
'
9
2
4
A
p
r’
l
l
91*4
91
97<V, J ’no‘ 11 .. .. 95*« 98 4
St D l)iv 1st col tr g 4 s.. 1990
R egistered.A ...................1921 q
......
08*3 99*s
90 ........ 91 C o t ’07
99*8 ‘ lav’ l l
Registered.....................1990
98*8
St
Paul
M
ib
Man
4
s
....1
93
3
J
...........
96 Deo’09
125 127*4
125
Spr do Col Div 1st g 4a..1940
125 Sale ,125
1st consol gold Os.........1933 J
9 0 4 ........ 9 1 4 D ec’ 10
I] 32 A p r’09
W VV Val lllv l o t g 4 s ... 1940
Registered.................
1933
J
i'o
63
4
i06*4
105 106*4
lu o ........ 106*4 J ’ ne’ 11
0 1 St R ib C consol 08..1920 ...
1064 Sale 106*4 196V,
Reduced to gold 4 *33 1933 J
96
97
........ 07 M ar’l l
110834 J ’ne’o9
le t gold 4a....................... «1936 Q
Registered..............1933 J
94*5
..
96 Aug’ 10
95*4 98 4
98*,
98*3
R egistered.................. A.T930Q
98
Mont
ext
1st
gold
4
s..
1937
J
984
98
109 ........ 106*4 Jail’ l l
106 106*4
98
88
Oin S <fc Cl con 1st g 6s. .1928
98 Sale I 98
Registered................. 1937 J
107*8 1074
107*8........ 1074 May’ l l
|
91.84 Jan’ M
0 O O iVj 1 cousolVa......... 1914
964
E M iiniN orD ivlst « 4sl948 A
116*3 U 634
115 *3A p r’ l l
Consol sink t'u n d 7s....l9 1 4
Minn
Onion
1st
g
6a..1922
J
1144
123 ........ 1264 F eb’ i l .... 125 4 125 4
127 128'*s
General consol gold 6s. 1934
129 ........ !128<>t 123*8
M outC 1st gu g 6 s ....1937 J
Registered..................1934
11315 .
Registered................. 1937 J
112*3 112*a
................... 94 J ’l y ’08 .... ..................
liui Dlib VV 1st i>ret 4 s .1940
1st guar gold 5s....... 1937 J
113 4 114 112*3 A p i ’ l l
11234 112*4
O Ind <fc VV 1st pt 6s. ..(11938
U 2 * ,....... j l i ‘2a4 Feb’ l l
W ill A S F 1st gold 5s 1938
90
93
91*8 92 4 9 2 4 J’no’ 11
Peo & East 1st con 4 s...1040
Greenbrior
Ry
See
Ches
&
O
6
47
6
14
47
47
47
60
88*3 9134
lu com o4 s...................... 1990
Gulf ib s 1 1st ref ib t g 6s b 1952
........... 90*3 00*3 M a y 'll
Olev & Marietta See Pen u Kit
see N YN Hib 11
H ousatoulo
101s, 103®g
103
103
Clev <b Pitts see Penn Co
102*4
103
ook
Val
1st
cons
g
4
*
38
.1999
62
09
6
62
62 4 644 62
' 100*3801) ’118
Col Midland 1st g 4a......... 1947
Registered....................... 1999 J
24 U14 9 7 4
95
96 Sale
96 4
96
*| 95 Muy’ l l
Colorado <fe Sou 1st g 4a...1929
96
Col & 11 V 1st ext g 4s. .1948 A
9 8 4 19 97*8 98*4
96
98
984 98
", 96 F eb ’ l l
Refund & ext 4 4 s ........ 1935 M-N
95
Col
&
Tol
1st
ox
4
s
.......1955
F-A
U
2
4
U
3
Ft VV <b Don O 1st g 6 a ..1021 J -D ........ 1124 1124 J’ne l l
llou st E * VV Tex see So i ’ac
Goluin & Greenv See So Ky
H oust & 'le x Cen See 80 Pac Co
101*3 101*3
Uol ib D ock. Val See Hock Val
Hous Belt & Term 1st 5s. 1937 J-J 100 101 v 101*3 Feb’ l l . . . . 100 4 103
C olib 'i'oi sea Hock Val
I llmois Central rat g 4 s..1951 J -J 100*3 101°b 107^ J‘ me’ 07l ’
Uol Conn ib Term See N ife VV
l Registered....................1951 J-J
1 8 6 4 90 4
Conn ib Pas Klva 1st g 48.1943 A-O
*^S k ........
1st gold 3 *33.................... 1951 J-J
89
89
......... j 89 ’ Apr’ l l '
Cuba HR 1st 60-yr 5 g . ... l 9 0 2 J -J ................... LOO May’ 10 .. . . ...................
Registered....................1951 J-J
!
93*3
Alay’oO;,
gm
,,..........
.
.
.
.
& Gt So see O Al ib St P
Extended lstg3 *3 S .......1951 A O
D ak
0 -*........ISO J 'l y ’09,
alliui ib Waco See Al K ib T
1st gold 3ssterlin g.........1951 M-S
98
93*8
Del Rack & Western
Coll Trust gold 4s.......... 1952 A-O ’ ygU ......... i OS^I’1*6 ! 1
108 108*4
Morris ib Essex I s t 7 a ...l9 l4 M-N 108 1084 108 May’ l l
jmj " 9*7 "*! 90 J ’uu’oo
Registered....................1952 A-O
11 1*4
' 10
1st consol guar 7s.......1915 J-D 110*8 1104 HO*, J’ no’ l l . . . . 110*8
1st
ret
4
s
.........................1965
M-N
„
n
^
,
\
»
«
%
,
,
{
!
&
__________
1 ll*» D oo’ lC
87
... 86
Registered.................1915 J-D
Purchased lines 8*38___1952 J-J
91
91
00 ........ 91 J a n ’ l l
8 974 984
1st ref gu g 3 4 s .......... 2000 J-D
]- -H i ill le x gold 4s ...1 95 3 A1-N
1154 1164
...J 91*4 94*4
N Y Daokib VV 1st Os...1921 J-J 114*4 117 1154 J’ue’ l l
Sk
I?1
*
;
S
I'Unn’n
Registered....................1963
M-N
| 00
4 day’ l l
107 4 107 4
97 4
Construction 6s.......... 1023 F-A 107*»........ 107
97 4 98 I 97 *3 Feb ’ l l
Cairo Bridge gold 4 s ....I9 60 , J-D
99
094
99 ........ 99 4 J’ne’ i 1
86 4 80*4
Term ib improve 4 s ....1923 M-N
DouisvDiVibTerni g3 4 s.l0 5 3 J - J
10
Warron 1st ret gu g 3 has.2000 F- A 8 7 ....... 102 *8 Feb’03
Aliddle
D
iv
r
o
g
6
s
..........
1921
F-A
1 75 4 76*8
1 U 64116
76 4 D e l l Hud 1st Pa FIT 7s.1917!M-S 116*8 » ale 1104 115*8
Omaha DlV 1st g 3s....... 1961 F-A
140 Aug’01
75 4 75 4
76*s Jan ’ l l
Registered.....................UH7! M-S
St Douis DiVibterui g 3s. 1951 J - J
::::|
9034 Sale 99*4 100
38 98 4 100
10-yr oonv deb 4s.......... 1910 J-D
Registered................... 1961‘ J - J
101
102
101
4
J’ne’
11
80 87 4
1014
1014
87
4
May
11
1st lion equip g 4 4 » ---- 1922 J - J
Gold 3*38...................... 1951 J -J
98 4
08*4 36 9 84 100 4
0 8 4 Sale
101 *8 v.
1st ibref 4 s ......................1943 M-N
Registered.................1951 J •J
"**1
94
94
] 93 4 94 4
92 4 94
100
2
A lb ife Sua oonv 3 4 s ....... 1910 A-O
Spring Div 1st g 8*38...1951 J-J
1123*4 124 Hi
1 95*8 06
96
B e n s * Saratoga 1 s t7a.1921 M-N 122 ....... 124 May’ l:
Western Dines 1st g 4 s..1951 F-A
Riv R R Bridge See Pa HR
Bellev ib Car 1st 6s.......1023| J -D
g el
93
93
*t
1
92
94
........
03
6
env & R Gr 1st oou g 4 a .1036 J-J
Oarb ib Shaw 1st g 4 s ...1932 M-S
*.*j 1154117
l o l *8 D ec’ ll
Consol gold 4 *38. . ....... ..1936 J-J
Chic St D ib N O g 5 s ...1961 J-D 115 116*3
113 116
May’ l l
1i'00% i o i
Improvement gold 6a...1928 J-l) .......T io o *. 1004
Registered....................1961 J-D 114 4 ........ n *
91
01
90
93*8
01
Sale
K
1st ib refunding 6s........ 1955IF-A
Gold 3 *us....................... 1951 J-I)
85*4 83*4’
1014 Mar’ l ... 1104*4 104*4
93
J-D
Rio Gr Juuo 1st gu g 68.1939 J -D
Mempli
Div
1st
g4
s..,1
9
5
1
H
96
___
I 6 14 6 14
*i 0 1 4 A u r’ l
98
Rio Gr So 1st gold 4s. ..1940 J - J .......... 72
95
St D Sou 1st gu g 4 s ....1931 M-S
85
85 Mur’d) 1‘
. Guaranteed....... .......1 9 4 0 J - J
ill ib West See O C C & St D
9 0 4 J ’ne 1 .. . J 96
02*4 Ind
95
9 64
Rio Gr West 1st g 4s ....1930 J - j ........ 00
J-J
I960
lud
111
&
la
1st
g
4s........
84
........ 81 *■ 84 4
l 8 34 8 5 4 lu t * Great Nor 1st g 6 s ..1919 AI-N 108\ 108*s
1 1 107 4 109
Algo and col trust 4sA.1949
97 J a n ’oi .. .
112 1214
D ta liO cn ila tg u g 4 s al917
2d gold 5s......................... 1909 M-S
:: : : ;106 4 1224
Des Aloi ib Ft D See Al ib St D
Trust Co cortfs.....................
24
100 ....... .1 1 0 Sep ’0___ : 15
Dee Mol Uu ity 1st g 5 s..1917
3d gold 4s..........................1921 M-S
04 Sop ’ 1 1.. .
___ 98
J-D 1 0 1 4 ’102 4101 4 l o l 4 * 6 101 103
Det & Alack 1st lien g 48.1995
Iowa
Central
1st
gold
6
s..1938
94
J
’ne’
i
... . 88 4 94
63
69
93
05
68
tiS^1 68
n»Vi
M-S
Gold 4s............................. 1996 J
Gold
4s..............................
1951
74 Oct ’ 10
0 4 4 9 54
Det So—U H DlV 1st g 48.1941 M-8
J-D ........ P47t 947a J t
lu9
109*
107*3 109*4 Jarnos F & Clear 1st 4 s...1959
Dal ib Iron Range ls t 6 a .. 1937 A-O 107 »s 108*3 106
1
.
ai
A
ib
G
u
See
D
is
ib
At
S
*3Alar’ Ob
Registered........................ 1937 A-O
I v a n ib M ich See Tol * O C
r
104 F ob ’ l l
104 104
2d Oa..................................1910 J-J
K C Ft S & Al see St D & S F
Dill Short Dine See N or Pac
1C C ib M R * B See St D * S F
108 108
Dui So Slioro da A t! g Os.. 1937 J-J 10G** 109 108 J a n ’ l l
Ivan C ib Paoilio see Al K & T
7 44j 15 7 3 4 7 44
I'a stotM in u Aes St P Al ib Al
7 3 4 74*, 744
Kan City Sou 1st gold 3 s.. 1950 A-O
63 <
E ! ast Ton Va & Ga See s o Ry
R e g iste re d ............. .I960 A-O
108*4
N
ov’
10
112
..
17 100*8 102
Elgin Jol ib East 1st g 6a. 1941 M-N
Ret ib impt 5 s ........ A pr I960 A-O 1004 Sale 1004
Ls 5 00*4 9 94
Elm Oort ib N o See Ecli& N Y
Kansas City Torml 1st 4s 1960 J -J
984 994 93 *
Erie 1st consol gold 7 a ....1920 M-S llOVj 1 1934 119*4 119V,
lvontdoky
Gent
see
D&
N
101 *3J’ ne’ 11
N Y & lin o 1st ext g 4s 1947 M-N 101 4 ..
Kook ib Des Alo See C R l& P
1057g AXay'll
2d ext gold 6s................1919 M-S 106*3 ..
Knoxville & Ohio see So Ry
1037s “ a j’ l l
3 1084 1114
3d ext gold 4 *as.............1923 M-S 104 ..
i ako Erie ib W i s t g o s .. 1937 J.J 109*3 Sale 109*3 J09 4
1
0
6
*4
M
ay'll
106*3
107*4
4th ext gold Cs.............. 1920 A-O
X j 2d gold 6s ...................... 1941 J . j 104 s Sale 1104 *3 194 41 1 104 4 104 4
99*3
J
’ne’
11
... 108*8 110*4
99*3 6tll OXt gold 4s.............. 1928 J-D
North
Ohio
1st
gu
g
5S..IU45
A-O
108*8
109*6
n
o
:>
4
H
**>’
11
N Y D E i b W l s t g fd 78.1920 M-S ......... 1 2 0 *V 118 G e t ’ 10
D Sho ib Altch S See N Y Cent
89
89
J l 0 5 4 1064
8 8 ‘s 89
Erie 1st con g 4s prior..1U90 J-J
Dolt Val N Y l8 tgu g4 *2 ».1 9 4 0 J-J 105 4 100*s'105'a May’ l r
86
86
1044 1044
86 . . . .
Registered................. 1990 J-J
...U 0 1 4 JaQ 11
Registered........................1940 J - j 104*4
78
78*3
78*3 Sals
,i| 96*4 97 4
uo
*4
May’
l
l
1st consol gen lien g 4alOU0 J-J
Delilgh Val (Pa) cons g 4 s.2003 M-N
9 / *3
85*3 F eb'07
113 114 *4
Registered................. 1990 J-J
1134 sale 113*4 113*4 _11j113
Den
V
Tor
Ry
1st
gu
g
6
s.
1911
A-O
90
90
I
3
86
90
113
88*4 .
Poun coll tr g 4 s........ 1961 F-A
Registered........................ 1941 A-O 112 4 113 113 M a r'll
89
111 73
89*3
89 Sam 88*4
60-year conv 4 . A ....1 9 6 3 A-O
108 Mov’O'J
77*4
78*4 226 C9
78*3 Deh V Coal Co 1st gu g 58.1933 J •J 107*3......... 0 3 4 May’ l l
78*4 Sale
• ;r « 3 4 *934
do
Series B .1963; A-O
94*8.........
Deli
ib
N
Y
1st
guar
g
4
s
..1945
Al-S
Bull N V ib Erie 1 st7 s ..1910; J-D 109’ b 111 111 J’n e 'l l .. ..' 11034 lll* b
Registered........................ 1945 M-S
112 1 2 1114 113
Chic ib Erie 1st gold 6a.. 1982 M-N 111 112 1 12
El 0 ib N 1st pt 68 ........1914 A-O 102 ! .......11014 F eb ’ 10
i l l A p r’ 11 ___ 111 111*8
Clev ib Alalion Val g Os. 1938 J-J H O 7* .. . .
1014 oep ’ 09
Gold guar os................. 1914 A-O 10U4 .
Long D ock consol g Oa.. 1935! A-O 121*3 125 1‘2134 M a y'll . . . . 12134 125
Deh As 11ud R See Cent ot N J
Coal ib R14 x s tcu r g u 0 a .i9 2 2 jM-N 1044 1U0 114 A p r'10,........................
Deli ib Wilkesb See C ento! N J
100*8
J
a
n
’
l
l
.
.
.
.
1004
1U0»8
Dock ib Inin la tcu rO a ..1913 J-J 10 i*u ___
99*4 Nov’ lU .. .J 1................... Deroy ib Caney Val See Mo P
N Y ib Groou D gu g 5s. 1940'M-N 101 . . . .
uong Dock See Erie
N Y Bus ib VV 1st ret 68.193/ J-J 103 104*a 104:,4 J’ue’ l ! ___' 101*4 104j4 Gong ls l’ it—1st con g 6s./ti931 Q-J 1104111 11078 1107s 6 1 1 0 4 1 1 2 4
80 ........ 100*4 D oc’0 6 ___1...................
2d gold 4 * 3 8 .................V
96 ____
1st consol gold 4s.........A1931 O-J
83 *g 81*g 87*4 F eb’ l l . . . . 85*4 87*4
92*4 96 4
G qihjIcU wold
-i-1“A
92*4 Sale "9 2 4 "'92*41'
General gold 4s................193s J-D
110 May’ l l ! , . . . 110 110
T enm uaf 1st gold
M-N*
984 984
9 84 A p r’ l l ,
97 100
Ferry
gold
4
4
s
................1922
M
-8
n o w o i ’ n . . . . n o 'g u o 4
Mid of N J 1st ext 58 ..1940 A O 110
99 4 Oct ’06 ,
92
94
4
Gold
4s..............................
1932
J
-D
100 I 2 99*3 HH*s
93
954
VVllk ib Ea ls t g n g6s...l942| J -D. 99*3 100 100
93 May’ l l 1,
Uuiilod gold 4 s ................1949 M-S ......... 95
n
o
n
o
I
2
n
o
in»*3
110
Sale
Ev ib in d 1st coil gu g Os.. 192u J-J
iHlssCELLANEOllfs BONDS—Continued on Next Page.
(ju s and E lectric Light
Atlanta G D Co 1st g 5 s ...1947 J-D
Bklyn U Gas 1st con g 6 s .1946 Vl-N
Bullalo Gas 1st g 5h.......... 194" A-O
J-J
J -J
F-A
A- 2S
G a s * Elec Berg Co c g 58.1941) J-l)
Ur Rap U D Co 1st g 6 s ...l9 1 i F-A
Hudson Co Gas 1st g 5 s.. 1941 M-N
Kan City tAlo) Gas 1st g 6s 1921 A-O
Kings Co El D ib P g 6 s ... I93'i A O
Purchase money 6s.........i99 i A-O
1074 109 108
604 614 0 04
108
604
1
3
2
IOO 4 Sale 1004 ioo-..
06*e Sop '08
100*4 191
105 ........ LOG4 M a y'll
101 ........ 01 4 'Jet ’01
99 101 100 Oct ’Oil
1034 ........ 103 4 A p r ’ ll
07 4 99*4 9778 J ’ uo’ l 1
105 ........ 106 May’ 11
114 4 ........ 1164 J’ uo’ l 1
89 ........ 80 May’ ll
6
103 103 4 1.034 1034
A-O 1 0 1 4 ........ 101*8 J’ne’ ll
00
On
i
.
...
9
14
Vl-N
Milwaukee Gas D 1st 4s.
J-D 104 ........ 1004 J a n ’ l l —
Newark Con Gas g 6 s ...,
* No price Friday; latest bid and asked this week, a Due Jan
(Ins and E le ctric Light
J t V f l l S D II lb P g 6s .. .1948 J-D 1 0 1 4 1 0 4 4 1044 1014 18 102
89 4
88*.
89 4 16 87
Purchase
money g 4 s ...1949 F-A ........ 89
105*4 108*.
111
Ed El ill 1st cons g 6 s ..1995 J-J 111*4........ 112*4 J’ne’ 11
50 4 62*8
N Y&OE1 DifoP I stco n g 6 sl9 3 0 F-A 1 0 1 4 ........ 1014 M a y'll .... 100
97 4 J ’ly ’09 .... ........
N Y ib Rich Gas 1st a 5s. 1921 M-N
106 101
................. Pacific G ib Eleo Co Cal G & E
95 4
954 57 91*4 06*4
96 4 Sale
corp unifying ib rof 5s 1037 M-N
105 4 106*4
116*8
Peo Gas ib C 1st con g 6 s .1943 A-O 1 ) 7 4 1184 119 4 May’ 11
2 101*8
Rotuuding gold 5s.......... 1947 .11-S 102 4 Sale 102 4 1024
1 102*4
f'll
f-1.
I
.
Mr. (Cke
Ilf
4
V
1
5
4
f.
I
F
103
4
103
4
J-J
1024
103
4
ChG-Dib
ls
t
g
u
g
os
1937
103 i .) i 4
5 101 101*4
Con G C oof Cll ls tg u g 5 s .’36 J-D 1014 102 4 L014 1014
07 7« 90 4
90
00 ........ 90 Mar 11
Ind Nat Gas & Oil 30-yr 5s ’36 M-N
i()l 4 106
1004
100**
A
p
r’
l
1
vl-N
1
0
0
4
........
Mu
Fuel
Gas
1st
g
u
g
68.1947
1134 1104
116
104
116
J
’he’
l
l
F-A
I
l
l
1114
Philadelphia Co conv os .. 1919
«7 4 90
U)‘J 103 4 Syracuse Lighting 1st g 6 s.’51 J-l) too ........ 98 Aug’ IU .... ........
M-S
Union
Elec
Lib
P
I
stg
6
s
.l9
3
2
100 10l*e
03
9 64
96
9 7 4 93 A p r ’ l l
Ref ib ext 6s .................... 1933 A-N
00 01
106 *11 i05Hj
i |104 105 4
1004 1694 Westchester Dlght’ g g 5s.l9oU J-D 105 108
d Due Apr «Due Alay A D u e J ’ly k Dae Aug jD n e D e o t Option 8ult
1690
—
BONDS
N. Y. STOCK EXOH A PfOK
W kkk knixvi . ju n k 23
N ew York Bond Record— Continued— Page 3
----------------
1*1 i
Xt.
\Vee!Js
Range
Range or I^ o
Since
Last Sate
Janvarv
Price
bYhlfiv
June ‘23
BONDS
N. Y. STOCK EXC H AN G E
WfcaK E ndi.vo J une 23
fVoi,. LXXXXII.
Price
«0
Range
00
Since
June 23
Last Sale
January 1
Long Island—(C on)
,/*
»
*
',
»
»
Hlgn\
No]
lo
w
High,
N
Y
Cent
A
II
K—(Con)
Debenture gold 5 s.......... 1934
AsK Lou
Htf/n No Low Higfk
11U'.j D0C’ »9 . . ..' .. .
seech CreeK 1st gu g 4a.l93G J -J;
Guar ref gold 4s...............i !»49
...... 9 8 ,t>D e c ’ 10
9B>.|
0OM| l l j MS, 07"
Registered................... 193G J -J j
N Y B & A1 B 1st eon g 5s 193b
...... 99 M a y'll ! !! *99** *99**
n
o
^
^
o
v
’o
o
1
.
.
.
.
!
.
.
.
.
.
:
2d
gu
gold
5s...............1936
J -J I 107 4 ........
N Y & B B 1st s 5s.......1927
105 A p r’ 071 ii
Beech Cr Ext la tg 3 4s 51951 A-O! 84 4 ........
N or Hh B 1st con g g u 5 sol9 3 2
109 May’ 1 r . . . . 103 4 10*8
Cart A Ad 1st gu g 4 s ... 1981 J -0 ........ 974 97 4 A p r’ 09
Louisiana & Ark 1st g 5s. 1927 &
t»7
08 M a y 'll ...J ! i l l >, ,17 ^
Gouv
A
Os
we
1st
gu
g
5s
1942
j -d !
Louisv tv> Nasnv geu g 6s. 1930
na\
i i n ’ si 8 i i 8T,ne>a
Moll A Mai 1st gu g 49.. 1991 M-3
Gold 5s.............................. n j 37
9 8 4 ........ 99 *4 Mar’ i 1
99
99 4
n 2s» J ’no’ n ; . . . . ! 'H 2 % 112 ?
N J June R gu 1st 4 s ... 1936 F-A
95 4 1 0 0 105 Off *02
Umiied gold 4s.........111*1940
034
99 I 3 9 s 4 99
N Y A Harlem g 343...200OM -N ! 90 ......... 1 uu
Registered..................... 1940
90 4 F ob ’ l l
974 Nov’ 10 . . . .
0 0 4 90 4
N
Y
A
North
1st
g
5
s
...
1927'A-O
...................108
Oct
'()«
Coll trust gold 5s............1931
1094 Fob’ 111.... 109 1004
g Y*
1st con gu g 4s 1993 A-Oj 95 4 97 : 974 F ob :’ 1 1 '
f H(fc Nash 1st u 6a___1919
I l l 4 Mar’ l l . . .. 111 112
97 4 974
Nor A Mont 1st g u g o s .1916 A O 1
1
*
L (Jin ifc Lex gold 4 4a. ..1931
' S» ------ 105 4 May’ ll
1044 105 4
Pine
Creek
rog guar 6s. 1932 J-D ...................131 4 Tan ’09
« O & M 1st gold 6s___1930
1184 May’ l l
-- 1184 1184
R
W
A
O
con
lstoxt5
s.A
1
9
2
2
'A
-0
1
0
7
4
1
1
1
4
110
May’
l
l
N O tfc M 2d void ds ..1930
1184 Feb’ 11 -.118 4 ] 184
1 074 110
Oswe A R 2d gu g 5 s...e l9 1 5 ' F-A lo o 105 105 J a n 'o s
Paducah A Mem div 4s.. 1946
954
954
2: 954 964
R VVA O T R 1st g u g 5s.1918.M-N 1 0 3 4 ........ 104 J’ ne’ iO
Penaaeoia Div gold rfa ...1920
1054 Mar’ i l
106
4
1
06
4
Rutland
1st
con
g
4
4
s
..
1941
*
•1
J -J | 9 6 4 .......
St L Div 1st gold 6s....... 1921
113 Sop ’ 10
OgALCliam ls t g u 4 s £1913 J-J
89 4 90
89 4
89 4
2d gold 3s...................... 198(1
71 4 F eb ’ 11
2 85 4 904
*7 14 ‘ 71*4
Rut-Canad 1st gii g 4 s. 1949 J-J . . . . .
92 J’ ne’09
Atl Knox & (Jin div 4s.. 1955
93 4 J ’no l l
92
93\
8
t
iJiw
A
A
dlr
1st
g
5s.
1996
J-J 103 h o ' 115 J'ne’09
Atl Knox A Nor 1st u 3a 1040
112 4 May’ t 1
112
4
112
4
2d gold Us...................... 1996 A-O 11:14 ....... 125 Fob’ 08
Hendor Bdge ls t s l g 69.1931
106 A p r’ l l
106 100
Utica A Blk R tv g u g 4 s.l9 2 2 J-J
994 100
9S'4 Mav’ l l
Kentucky Cont gold 4 s.. 1987
994 100
944
9i4
94
96
Lake Shore gold 3 4 s . ... 1997 J-D
884 89
LAN A iM<fc M 1st g 4 4s 1945
884
884
103 Deo’ lo
8 8 4 90
Registered................. 1997 J-D ........ 89
884
J ’no’ l i
L A N -s ou th M jo in t 4s. 1962
89 May’ l l
88
8 84
" 88** *91*'
Debenture
g
Is............1928
M-S
91
94
4
9
1
4
*a!o
N Fla A s 1st gu X 6a-. •1937
J0 8 4 May 11
93
95
1084 1124
...............
.1931
M-N
25-year
g
4
s
934 Sale
N A C Bdge gen gu g 4 4 » 1945
93*4
93:
9
2
4
944
Ka A A G R le t gu 069.1 9 3 8'J - J 1104
Pens A A tl 1st gu g 6 s..1 9 2 1
110 J a n ’ 1
UO 110
Mahon C’ l R R 1st 5 s.. 1934’ J-J
i l l 4 Mar’ i i
S A N Ala con gu g 5s.. 1936
1114 11J 4
ilu*4 1114
1114 112*
Pitts A L Erie 2d g 6s.a 1923'A-O! 107 4 ......... 100 Deo ’ no
L A Jett Bdge Co gu g 4 s.. 1946
924 May’ 11
92
94
Pitts AloK A Y ls t g u 68.1932 J .J ' ‘
L N A & C h 6'w O I & L
130 4 Jan '09 . . . .
.........
2d gu ar6s...................... 1931 j . j ,
V I ahon (Join See L fci A M S
»rM .° « ea<£ B v i a t g o s 1913 j . j ! 108% . . . . . .
DAnntiatuui Ky consol 4 s.1990
97
97 4 97
97
....
90
984
Mich C e n to s ................... 1931 M-S 110 113
i ’l i A p r ’ l l
Registered..................1990
113 111
104 Apr 05
l
V
i”
i ’lT *
Registered................. 1931 q -m ------•Stmpd tax exom pt.. 1990
*97* 4 Sale’ 97 4
1 19 J’ no’OO
97
*904 9 8 4
.................1940 3 -J
98
48
Manila HR—Sou lines 4s. 1936
00
00
5 09 " o a "
Registered.
.......... 1940 J .J j 90
&1oiy ptite b v see N 1 cen t
98 Dec ’09
J
y l 3 t « ^ 4 e.......1951 M-S
8 0 4 88 4 00 J’ n e 08
Mox Cent cona g 4s.......... 1911
J 100 1 0 0 4 1 0 0 May’ l l
9 94 100
1st cons 1110 g 3s........ al939
i ®1 £<***? :-**...............!962 M-N. 8 6 4
May’ l 1
3 1 4 May’ lo
87
88
20-year
deb
4s.............
1929
A
O
92 4 Sale
2d cous ino g 3s trust rects..
02>
25 4 A p r'09
92 4 30 914 93
Bat c A Star 1st gu g 3s. 1989 J - D
Mex Interun tlstcun g 4a. 1977 M-S
7? Mar’ 10
N Y Clue A St L 1st g4a 1937'A-O
Stamped guaranteed___1977 M-8
994 994 9 94
994 11 9 9 4 1 0 0 4
79 N ov’ 10
Registered.................. 1937'A-O
Mien c o n i see N 1 Cent
99 ........ 100 D e c'09
D eb ou tu ros4 s....
’ iw -m m m
Mid of N J See lin e
9
1
4
91
;,a
9
14
f) ’ *9*0*4 9 2 4
W est, BUoro 1st 4s gu.'IIasai j ' r 1014 Ohio
Mil L s A VV See Ohio A N VV
1014 1014
7 100 4 1014
. Hogisterotl.......... .
-jxui j r
Mil A North See Ch M A St P
984 934 9 3 4 May’l 1 .. . 9 8 4 1 0 0 4
i
{
j
{
*
Ureenw
I
jirb
net
Erie
J
Minn A St L 1st gold 7 s ..1927
Jan’l l
J*ar„ « « « M Y O * Hurt
Paoitio Ex 1st gold 6 a ...1921
J a n ’ 07
•N y HacK A W- Hit B L E W
1st consol gold os............ 1934
105 4 J’neMl
1054 109
N Y L E A \V See Erie
1st and refuud gold 4 s ..1949
70
70-4
G5
74
N Y A Long Br see Cent or N J
Des M A Ft D 1st gu la ...*36
80 A p r’ l l
80
81', ” Y N it A H—N on con 4 s.’56 M-N
94
0 4 4 93 4 May’ l l
Minn A St K gu See B C R A N
... 934 044
9 1 4 Sale I 95
Conv debeu 3 4 s ............1956j . j
M St P A SS M con g 4 i u t g u ’ 38
97
974 97 May’ l l
28 95 1 004
Conv deben d s . . . . ........ 1948J.J 1
054 98
M S S M A A 1st g 4 lut gu 1926
08
4
Jan’
iu
33 1324 124*1
H
ousatom
c
it
con
g
5a.’
!
1937
M-N
,
1
1134
.
.
^
.
.
1
1
3
4
1134
Minn Uu See st p M AM
l 11341134
N H A Derby con oy 5s.l91«3 M-N1 102 4 .........107^ A u c’ 09
Mississippi Cent 1st 5 s ... 1949
93 4 Alar’ 11
93 4 93 4
Mo Kan 06 i’ex rat * 43...10D0
974
974
84 4 87
96
4
98
N
P/
A
N
e
n
u
87
I
87
2d gold 4a....................... pi990
844
84
8 3 4 86
1st ext gold 5 s . . . . . .........1944
w .X u * W reI lai-S' 4s..yl992'M -S ' 9 6 4 Sole
964
0G4
103
103
95
97
1014 1034
1st A refund 4s............... 2904
814 82 4
914 944
784 83
A
t t f e
s
r
^
ss^: m ? i f
Gen s i 4 4 a .................. 1936
874
87 4
N Y A R B See Long island
854 88
8t L Div 1st rer g 4a___2901
78 Mar 11
78
78
N Y S A VV See Erie
Dal A VVa 1st gu g 6 s ... 1949
105 J’ ne’ 10
N Y T ex A AI See So Pao Co
Kan C A Pao lat g 4 a ... 1999
89 4 J ’ne’ l l
, 89 4 90 4 Nor A South 1st g 5 d .........1941 M-N
Mo K A E 1st gu g 63. . . 1942
110
l*o
........ 103 4 Jan ’ l l
109
n
o
10341034
N orl A West gen g Os.......1931 M-N }10231 44 .........1244
M K A Ck 1st gu 6s.......1942
IO84 J’ ne’ l l
ll
.1064 108
Improvem’ t A extgU s.,1934 F-A 127 ......... 127 A pr’
1214 124%
M K A T ol T 1at gu g 6s. 1942
127
104 4 A p r’ l l
120 127
1024 1044
Sher Sh A So 1st gu g Os. 1943
103 4 May’ l l
1
2
3
4
........
125
May’
l
l
i
S
T
w
r
,
1',1*
®
.......
a
o
125 1‘25
103
4
106
4
if
*
V
V
Ky
lat
con
s
43.1UUU
A-O
T ex A Okla 1st g u g o s ... 1943
98 Sale 1 98
98 4
1044 1044
98
99 4
103
1U5
4
Registered......................
a .q I
Mo Pact tic 1 st con g 6s ...1 9 2 9
....... 984 98 J a n 'l l
109 4 J’no'U
98
98 ,
J 109 111
^ ! ^ i la tld S KeilK 4a...i944 J -j| 9 2 4 8al« | 9 2 4
Trust gold 6a stamped.«1917
93 4
101
101
92
94
7(jlou
4
1024
10-23
yoar
conv
4
s
....
1932
j
.
d
R egistered ................. a l9 l7
109 4 Sale 10?;4 109 520 1004 1094
99 Mar ' 10
Pocah C' A C Joint 4 s.. 1941 J - d
1st coll gold 5s.................1929
90 sale | 90
90
24 8 3 4 90*3
1004 1 0 0 :
?0
.........1922 J-J 105 4 ........ 105 N ov'iO
40-year gold loan 4s.......1946 M-S
78
73
..
b
c
*p
V
*
N
E
ls
t
g
u
g
4a
1989
M-N
3d 7s extd at 4%............. 1938 M-N
97 4 97 4 974 J ’ue '11
96 4 May’ ll
*96*4 *074
North lllm ois See Chi A N VVI
1st A ref con v 5s........... 1959
93
93 4
N orm Ohio See L Erie A VV
Ceut iir Ity 1st gu g ls.1910
92
92
Nor Pac—Prior lien g 4a..1997 Q J
Cen Branch U P l a t g 4 s .l 9 l 8
74 99 4 1 0 0 4
9 9 4 Sale
4 100
87 4 May’ lO
Registered.................... iy<j7 X j ;
* 994 09
Leroy A C V A L la tg S s 1926
934>Tm:’ n
110 Aiar'06
9 8 4 994
General lion gold 3 a ... . a2047 q -F
7 1 4 714 71
Pao R ol Mo 1st ex g 4a. 1938
7L 4 27 7 0 4 7 1 4
9 6 4 A p r’ l l
R egistered................. a 2U47 3 .w
170 ,
2d extended gold o s ... 1938
108 4 May' 1 1
69 4 Mar’ l l
__ 6 9 4 694
St
Paui-DiU
Div
g
4
s
....1996
J-D
8t L Ir xMA Sgen con g 6sl931
964 May 111.... 90
97
08
96»J
1074 1 0 1 4
Dill Short 1, ls t g u 5 a ..1916 M-S
Gon con stamp g td g 5a 1931
99 F ob ’ lO l....
111 S ep ’ 09
G B A 4 coll tr 4a See Gt Nor
I 994 ,
Uni lied A ret gold 4 s.. 1929
85
85 4
RlV A U Div 1st g 4 s.. 1933
P gcu g 0a....1 9 2 8 F-A H 6 4 ,
1104 J’ no U . . . . 1104 1164
85-4
86
R e g iste re d c e r tiilc ’ 8 ..1 9 2 3 o -F ................... 117 F eb’ l o L ...
Verdi V 1 A W la tg 6 s .1926
4
102 4 J a n '10
St P aul A D u l 1st 5 a ....1 9 3 1 F .a 1 0 7 4 ........ l l o J ’ue’ l o l ... .
Mob A Ohio new gold 9a.. 1927
..................
1204 J’ne’ l l
120
122
A-O
6
s
................................
lat extension gold 6a../il927
1154 J’ ne’ l l
1 0 3 4 .........Feb’ l l L . . ‘1024 i ’u*2*4
l
l
5
*3
11
O3*
1st co n so l g o ld 4 a ......... 1963 J-D
General gold 4s................193«
................... | 9G4 A p r 'i o 1...........
87 J'ne l l
864 87
W ash C en t la t g 4s..........1948 Q-M1 90 .........1 91 4 A p r’ l l
Montgom Div 1st g 6 s ..1947
110 A p r 'l l
or Pao
Pai\ Ter
T er C o Tuar t g 6a.’ .*l933
•.r. 1?*! j
9 1..............
4 914
n o 1104 Nor
St L A Cairo coll g 4s..«1936
1 1 1 4 .........1114 J a n ’ l l
81 Mar’ l l
11141114
81
81
Nor
liv
Cal
see
So
Pao
1
Guaranteed g 4s.......... 1931
93 4 A iar'li
93 4 94 4 Nor VVia See U St P m A o
M A o coll 4a See Southern
Nor A Mont See N Y Cent
Mohawk A Mai SeeN 1 C A 11
A VV see (J C U A St L
Mouonganela Rlv See B A O
U lulna
o R iv U B See Halt A o
Mont Cent see St P M A M
«Jre A Cai See So Pao Co
Morgan’ s ku A T See s P Co
e r e short Line see Un Pac
Morris A Essex See Del L A W
Uawego A Romo See N Y C
Chat A St L 1st 7s. 1918 ,
1054 100 1054 1054
N ash
106 V, L»ao Coast Co 1st g 5 s .... 1946
1st consol gold 5s.........192*
1104 ....... 110 s J’ ne’ l l ...? 103^
3 105 108
1034 105*4 1 05 4 1054
lUrt^111
A ac 01 Missouri See 51o Pao
Jasper Branch 1st g 6 s ..1923
HO ....... 1 164 Nov’ lo
Penn RR la t real eat g 4 s . 1923 M-N' 101 .........101
MoSl M W A A l 1st 6 s..1917
1 0 0 4 ....... 103 4 D ec’ lu
101
Consol gold 5a..................1919 M-S 1 ........ 108 11094 J a n '0 0 . 2 101 102
.................
T A P Branch 1 s t 6 a ....1 9 1 /
1 0 6 4 ....... 113 J ’l y ’04
Consol gold 4a..........................19^9M-N
Nash Flor A Shot see L A N
.........103 11034 J’ne’ l l . . . . 1034 1034
Convertible
g 3 4 s ........... 1912 M-N
Nat Bys ol M exp r 14 4 » 1957
924 93
92 4
92 4
99 4 09 4 99 4
9 9 14 15 984 9 0 4
6 9 1 4 96 4
Convertible g 34s ...........1915 j . n
Guar gen 4s..................... 1977
8 5 4 Sale
97 Sale
964
9 7 4 165 9 6 4 974
854
»54
85
894
Consol
gold
4
a
................
1949
M
w
Nat of Alex prior lien 4 4 s. 1926
1004 Feb’ l l
B 1004 1004
........ 1UI
103 1 034 100
1064 11103 1044
1st consol 4s.....................1951
81 Sals
SI
SI
U
U > , 0U 4Apr’l l . . . .
i 784 83 4
1) R R U A Bge 1st gu 4s g .’36 F-A 100 ....... ................................. .
New 1 1 A D See N Y N 41 A 41
N J Juno Rlt See N Y Cent
I1w
,A 8.4ii - - 1943 M. N 102 .........102 4 May’ l l .
102 i ’0‘24
N Y Bkln A Alan Bell See L l
102 4 102 J a n ’0 3 .
N Y Cent A 11 Rlv g 3 4 s . 1997
Vc’iiuYc^Uutr Ini’S
“ - 8 1 lo u tlioa'i lU3*aMoynO........ ..................
S7’ «
S3
60 87»a 80
Registered..................... 1997
n c o - « u a t l » v (,4V w .lU
2 llj“r . j<|: m
sole 1U4
U>4 i a i o a ^ i n i u
88 J 'n e 'll
864 89 4 t.BuRegistered....................
1901
Mn
r’II
^ J03 4 1044
Deben g 4s...................... 1934 ,
1024 Mar’
i
93 4
9J4 47! U'JVi IKI,
Gum 34a coll trust reg .1037 m .S
90 ; ! „ « ■ ! ' ; ; ; ;
Lake Shore coll g 3 4a ... 199m
87 4
7U't
7‘JL,
8U»„
4 78
Guar
3
4acoll
tr
aer
B.T.194
F
A
Registered.................... 199,- F-A
8 8 ’ May’ l
89
73 4 May’ l l . . . . 7 8 4 70 4
88
88 4
Mich Cent coll g 3 4 s . ...1998 F-A
•7 4 ’ ’3 07 9 7 4
07 4 074 07 4
78 4 May-11 . . . . 73
794
Lu 3 4a tr ttfa c . . . . . . . . 1942 1 n
R egistered.................... 1993! g-A
87 4 00 1 87 Aug’ 10
70
78
78 A p r -ll
u u a ,,a tt etis
88
89 4 01 D eo’ 09
4 251 bViAav
941 04
9941004
lUI-SOKI-L \NKOUS BONl>.-»—Continued ou N'eit KnBB
Goal and Iron
B nffA Susq Iron a r 5s___ 1932 J-D
Debenture 5s.............. d 19^6 M-S
Coi u Co i uu gon a 1 g 5a.. iU4.i * A
Convertn lo deb g 5 a ....p ji 1 F A
Col Indu IstA coll 6s g u .. 1034 F-A
Contln’ tul U 1st s 1 gu os g. 195^ F-A
Gr Rlv Coal A C la t g 6a 191 A-O
Jell A Clear C A 1 1st g 6s! 192 J-I)
Kan A II C A C 1st s rx 5 a .l9 b l J J
Pocah Con Collier 1st a i 5s ’57 J-J
8t L Rock M t A P i st 5s 105 J-J
Sunday Creek t o 11 6a ...1944 J j
Tenu Coni <*eo os............. 195J J - J
Tenn Div 1st g 6a.......<xl9l7 A O
Birni Div 1st consol 6a.. 191 J-J
C!-M
l8t
« 6a. 192 J-D
Victor Fuel 1st s l 5s........ 1963 J -J
V alron Coal A C o is t g 5s. 1949 M-8
l Unuumoturiu, J, Industrial
9 64 97 IAllis-chalmora 1st 5a
J •J
73
774
7 7 4 78
7 70
89
90
70
Am A g ohem 1st c 6s’
A C 1014 Sale 101 4 IOI 4 29 1014 1024
100
lo o
1 9 7 4 100
Am Cot o n oxi 443 *’ **
Sale
F
100 100>4 100 A p r’ l l
97 4
07
4
07
4
1
0 >4 lo o
0
74
984
Deben 5a (lntorim’ ctiaj .1931 M-N
90S
96 4
75 4 70
96 4 Sale
2 004 074
74s.
7l>
37 73 4 7 0 s V111 tim e
4i lat
u ba .1919 .9-3
094 ........ 1074 Dee '04
99 100
90 4
1 9 6 4 10(} ,
99 4
Anier Ice >ecur deb g 6a’ .1026 A.O
73
102<4A p r’06 .. .. ................... Am smelt 8 ouritleasfba
754 70 J’ nr’ 1 1
65
78 !
.1926 F-A 103 4
10J4 104 173 004 104
107 Muy’07
vm Spim a 5Ug l a t g 6a., 191 o
O ' 1013, l o s i , o tc-u e
100 H 2 101 J’ n e ' 11
100
101
uu
t
hread
Iste
o
i
tr
4
a
1919 j . j
83 H 83 H, 85 A p r’ l l
934 M . y i
934
84
85
92 4 9 3 4
aiu Tobacco 40-yr g 6a.
1044 A-O 104 4 3a lo 104 4 1014 71 104
......... 84 s 84 4 J ’ ne’ xj .. .. 83
4 1104
80
4a. ............... ......
F A
83 dal*,
874
884 110 7 9 4 93 4
73 Feb ’07
m
Writg
Paper
i
s'tsiss.
191 V - J
00^
004
. . . . 1034 1034T ,uo’ l i
90 4 01
lu3 4 104 4
89
4 91
aldw Loco Works 1st 5s 19-1* Nl-N 103
103 1115s, 105 s Mny’ l 1
1024
May’
11
l<)5 105
1024 1024
U .t ■» J
05
115 HJIi'.. 105
105
90 4 U6 4
96 4 20 86 4 9 8 4
1 1044 100
1046 A-O
107 1111 110 Jan *09
99
80'« 8a ie
09 4 06 9 8 4 100
1951
F-A
88
89
MS
......... 88
87 4 Muy’ 11
1 814
87
8* s
103 1 M-N
97
04st 07
90 4 97
90
9 04
90
8 9 1 4 07
1034 M-N
06
904 0 04
10 95 4
<L aD neJan 6 Due Feb 6 Due May g D11
ue 4 Due.iTjr AiDuo a u £ 0 Due uofl » D uo N or q Due Doo /FIaC.
07 >a........
90 Sale
90
00
7
lIO M b
N. Y. STOOK K X (' H A N'OE
W kkk en i >in<- J une 23
1691
New York Bond Record—Concluded— Page 4
J u n e 2 4 1 911.1
^•2
c 8;
•2%
Price
Friiiav
June 13
FVeen's
Range or
hast Sale
33!
n
BONOM
Range
Since
1 N. Y. STOCK E X C H A N G E
W kkk E noino J unk 23
Januarn 1
H2
EC
-5%
Price
Frill an
June 2.3
Weeic’s
Ramie or
haul '•a'e
s5
Range
s * i Since
5 *7 January l
.Vo him a igli
Rlu
ASIC ho 10
tit
Hi
High N'O ho>r HlU’l
A Ml hoic
Pennsylvania Co—( to n )
1084 sale lag
10
38 106% 109 4
97% " 8%
98*8 99
98 '4 J’ne’ ll
Guar 15-25 year g 4 « — 1931 A O
.....................110 Alay’09
Registerea.................. .1994- J
.....................
Cl * Mar 1st gu g 4 4 s .. 1935 M-N 102 104% 110 Jan ’05
7 9 % -ule
79\
Ml 3701 76 80%
Develop * gen 4s Ser A . 1956 A
Cl & Fgen gu g 4 4 sser A .’42 J-J 106 >«........ 110% Jau ’o9
86 4 87 ! 86% J ’ ne’ l l s 2 ! 86 88
Alob & Ohio coll tr g 4 s.. 1938 .VI
Series li..........................1942 A-O 10’ '* ........ 109% J ’l y ’09 ... ...................
1 0 9 % ........ 100 4 J’ ue 11 .. .. 1U8%1094
Mem Uiv 1st g 4 4 - 5 s ...1996 J
90 ........ 90 Aug’09
Senes C 3 'as................. 1948 M-N
88 4 89
88 4
88-.
9 864 8 84
St Eouis dtv 1st g 4s___1951 J
90 Afay’08
90
95
Series 1) 3 'as..................1950 F-A
107%
108% 107
Ala Con It 1st g 68...... 1918 J
00
93
9 0 4 A p r’ l l ___1 9 0 4 91
Erie & Pitts g u g 3 4 e R.1940 J ./
89 4
90
4
May'
1
1
s
7
1 904 904
Atl
*
Danv
1st
g
4s.......
1948
J
90
93
Series C..........................1940 J-J
82-. 82% 82 4 o e i ’ lo
2d 4 s ..............................U'4« J
Gr R * 1 ex 1st gu g 4 4 » 1941 J-J 1 0 4 4 ........ 1IH 14 Mar’ l l
j'04% 104%
80 4
A t i * Yad 1st gg u a r4 s.l9 4 9 , A
Pitts Ft W * C 1st 7 s ...1912 J -J 103 ........ 103 4 Mar’ l l
103 4 104
. . . . 107 Apr i 1 ... 1100 v 107
106
Col * Greenv 1st 6s....... 1916; J
1037ft1037ft
2(17s................................ 1912 J -J 103 ....... 103 7, F ob’ l l
107 7ft ....... 1084 J Tie’ l l ... 10 , % 108%
E 1 V a * Ga Div g 5s..193l> J
3cl 7s............................./11912 A O 1 02 % ........ 10 7 Oct ’08
14 109’ ,1 1 1 %
....... I l l
-li
111
Cou 1st gold 6s............ 1956 M
1
Pitts Y * Asli 1st con 5s. 1927 M-N 107 ........ 109 May'10
.......106 May' 11
106
105 100
E Ton reor lien g 6s....... 1938 M
P C C * St 1. gu 4 'as A ... 1940 A-O 100 107 106 J’ ne’ l 1 . . . . 1 0 6 107%
........ 72 | 65 -N.>v '9
Ga
Midland
1st
3s..........
1946
Series 11 guar................1942 A-0 10578 106', 106
1 lbO 107%
106
113% ........ 1 .3% J 'u o’ l
113 114
Ga Pao Ry 1st g 6s.........1922
107 % D ec’ 10
Series C guar................1942 M-N 106
................. 115 May 11
11 54 116
Knox * Ohio 1st g 0 s...1925
.............
977,
Series D 4s guar...........1945 M-N
98% Deo’ 10
100
1064
Nov'
.
loo
*
Rir
prior
non
g
5s
1945
94
93
91% 93
91% A p r’ l 1
Series K 3 Si guar g___ 1949 F-A
73 .........! 82 Nov'uo
.vlorigago gold 4 s ...... 1945
97T,
98% May’ l l
98 % 99%
Scries G 4s gu ar........ 1957 M-N
1054100 105 J’ uo’ ll
105%
Rich * Dan con g Us....1915 „
113 113
113 F e b ’ H
C St i-.it P 1st eon g 58.1932 A-O 113
104 78 ........ 105 Mar 11
101% i05
Deb 6s stamped.............1927 A
Pensacola A; Atl Nee L it Flash
71
71
7 1 4 ........ 7 1 Alai’ l 1
RlOli * Aleck 1st g 4 s . ..1948 M
Peo & East Nee C C C * bt E
104 105 104% J'lie 1
103% 1044
So Car * Ga 1st g 6s___1919 W
109 May’ l l
109 109
Peo * Pek U n 1st g Os....1921
103
106% ........ U'2 net
Virginin Mid ser C Os... 1910 IV
934 J an ’ l l
_
03 4 93
2u gold 4 'as.................... 51921
91
0*4 4 104*4
1037»........ 104 4 J’ no 11
.-ones D 4-6a................ 192li.V
73 4 May’ l l --T 66
76%
Pere Marquette—Bet 4s.. 1955 j . j
luO 106
lo5% 1064 106 Alar 11
Senes E 5 s .....................1920 M
Refunding guar 4 s ........ i055 j . j .......... 74
74% A p r’ l l ____ 68 4 7rf%
108 .........1 0 i% J ’n e l l
107 107%
General 6s..................... 1930 M
Kin's 100%
...........
j -o~ 100% . . . . . . 100 4 A p r’ ll
C h * i\ ai u s .................. 192.1
........ .......... '1 054 .. .»
Guar stamped.......... 1930 M
lOO’ g 110%
1097, j ’ ne’l l
F lin t * P 41 g 6s............. 1920 A-O
"8 110
1 0 8 4 ........ li-’S 4
l ’)!»4
V a * bo’ w’ l 1st gu 5 s .2003 J
100 lOf
1st consol gold 6s.........1939 M-N 101 105 103 Alar’ 11
94 4 97 4
04
9 0 4 95% J’ ne 11
1st eons 60-year 6 s.. 1958 A
Pt Huron Div 1st g 5s. 1939 A-O 101 102% 102 Alay’ l i . . . . 1014 103%
91 ........ 91 F eb’ i
W
g
*
V
V
I
s
t
o
y
gu
4
s..
1924
S a g T u s * 11 l s l g u g 4 s .1931 F-A
. 90
104 4 105
104%
105
4
104%
J’
ue
11
West
N
U
1st
cou
g
O
s..1914
Phil B * VV Nee Penn HR
8 * A Am aee E * N
Philippine R y ls l3 0 -y r s i4 s ’ 37 J . j
S0
89
8 04 J’no’ l l . . .. 8 04 88
102 102%
103 105 1102 4 Apr 11
Spokane Xuteruat 1st g 6s 1955
Pitts Cm & at E See t-euu Co
105's 105 4
ei A ot St l. 1st g 4 4 s ..1939
105 4 106 4 105 4 Apr 11
Pitts Clove * Toi Nee B * U
11 -% 112%
112% ........ 1 1'2% .x<ir‘ 11
■ 1st COU gold 6 s . . . . 1894-1944
Pitts Ft W * Ch Nee Penn Co
.■7
08
Geu
reluml
s
I
g
as.........1953
96%
A
pr
1
1
97%
057,
Pitts McKees * Y Nee N Y Coil
b
o
o
'l
l
St
e Ai Kge Ter gu g os. 1930
108
4 108*4
lo7%
1084
1127, May’ l l
112 4 113% r ex * N O Nee So Pao Co
Pitts Sli * E E 1st g 5 s ...1040 A-O 112%
1st consol gold 6s............ 1043
93 % J’l y ’ 97
no
110 111%
L'ex* Pao 1st gold 5s....... 2000
109 4 110 4 n o
Pitts * West Nee 11 * o
70 Mar’ lo
65
2d gold me 5s................. ?2000
45
97 4
93 323 00% 984
11 ending Co gou g 4s....... 1997 j . j
08 Sale
00 4 A p r ' 11
102
*9*9*4 ‘ *9*9*4
Ea DIV li E 1st g 6s.......1931
97
4
97%
97
4
A
p
r’
l
l
LV>Registered.................... 1997
93
100 -j N ov 04
W Mm W * N W ls t g u 5 s ’ 30
*20 00 07 4
UU%
97
Jersey Cent coll g 4 s ...1061 a 0 064
108
100 4 J ’no 11
109
.......ri‘6’4
Pol * (J C 1st g 6s............. 1935
Rensselaer * Sar Nee 1) * li
'
K
J
D
112
107
Western Div 1st g 5 s ...1935
R ic h * Dan Nee South Ry
103% 103%
10141034
General
gold
6s...............
1935
lo
3
4
Rich * Aleck Nee Southern
90
Ul7,
917ft Alay’ l 1
004 93
Kan * Al 1st gu g 4 s ....1990
Rio Gr West Nee Hen * Rio Gr
vS
96 4 98
2d 20-year 5 s ................1927 J
97 4 U8% 07%
Roch & Pitts Nee R R * P
92
90
924
95
02
4
92%
Pol
P
*
vv
xst
gold
4
s
.
...191712
Rome Wat * (Jg Nee N Y Cent
89
80 J’ne’ l 1
894;
Poi at e * VV pr lien g 3 48.1925 J
80
Rutland Nee N Y Cent
747,:
74%
?4 4
08
60-year gold 4s............1 9 5 0 A
7 44 gale
O a g Tus * H Nee Pore Marq
78
77
Coll
tr
4s
g
aor
A
..........1917
F
82
77
75
814;
88% J’ne’ l 1 . ... 804 88% Pur Ham * Bull l s t g 4s./rl040 J
O t J o * Gr isl l s t g 4S...1947 j . j
884.
J
’ne’
l
l
87
90
80 4
90 4 92
St E * Cairo Nee Mol) * Ohio
* Del 1st con g 6s 1928 J
100
1(10
1(154 100 .
1054
U lster
8t E * Iron Mount Nee M P
1st rotund g 48.......... 1952 A
86 4 J ’uo 11
85 4 85 4
85 4
8t E At Hr Nee T R R A ol St E
b n Pao U R * l gr g 4s ...1947! .1
lo l *4 77 luO 102%
101% sale 101
118 May’ l l
118 119
9t Eouis * S F— 4eug Os.1031 J
_ -J_
1004 J ’n o l l
Registered.................... 1947 .1
100 *a
99 4 1004$
. . . . 107
108
107
4
J
’n
o
'11
General gold 6s............... 1 93 l: j . J
107% aalo 106% ltii%
20-yr oouv 4 s ...................1927! J
103 410 9
01
91 M ay'll . . . . 90
at E * S F UR cons g 4 s.. ’96 J . J
9 04 91
9 0 4 98%
1st * ref 4s.................... j/2008 A
07 4 07 4 07*4 J ’no rl
807, 42 86 4 90
Gen 16-20 yr 5s .........1927 M-N
8 Vi34 Sale 89%
06
ure Ry * Nav con g 48.1946 i
UtiA4
90 Sale
96
974
Soutlnv Uiv 1st g 6 s ..1947 A-O
98 101 100% M ar n . . . . 100%1014
Ore abort Erne l s t g C s..1922 F
11441154'
1144 114% U 4 4 M ay'll
62 80% 83
81%
*2
Refunding g 4s............1961 J .J
81% Male
1127»
1946
J
1st consol g 6s_______
1114 113 4 ’
112 4 112 4
112
lid 117 4
K O Ft S * Al oou g Os.. 1923 M-N 11G% 117 V 117% J’ne’ l l
04% 64 92 s, 95 ;
04
Guar rotund 4s............ 1929 J
94 bale
80%
81 13*7 77% 81
K C F t S * Al liv ref g 4s 1936 A-O
81 Sale
Registered................. 1929 J
04 Jan 'oO
K C * Al R * R ls t g u 6s. 1929 A-O 1 0 0 4 ....... 100% Deo'09
108 108
U la n * Nor gold 6 s ..1926 J
100 ......... 108 May 11
00%
99%
3
07
4
99%
On’ rk& C h C ls t g u S s g.1013 A-O
90% Sale
Urn N J UK * C Co Nee Pa HR
at Eouis So Nee Illinois Cent I
i
92
92% 12 897a 92% Utah Central Net Rio Gr Wes
3t L S W 1st g 4s bd Ctfs.1989 M-N
92
Utan * Nortli Nee Ua Pacific
78
83
83 May’ ll
2tl g 4s 1UO bond O tfs...pl980 J - J
82 4
* Rlaek R Nee N Y Cent
80
80% is o 76% 8 14 Utiea
Consol gold 4s................ 1932 J -D
80 4 Sale
98 N ov’08
consol g 4 s ___1955 F-A
V auuaiia
Gray’ sP tX er l s t g u g b s 1947 J-D
07%
Consol 4s aeries B ...19 5 7 M-N
96% Mar’ l l
90% 97 4
at Paul * Hui Nee Nor Paoitlo
Vera c'rua * P 1st gu 4 *23.1934 J -J
90
90
90
90
St P Aliuu & Alan Nee Gt Nor
Ver Vaf iud * W Nee Alo P
St P * Nor Pao Nee Nor Pad
Virginia AUd Nee boulli Ry
8 t P * S’x City Neetl St P Al * o
abash 1st gold 6s....... 1939 M-N 108% Sale 108
108
103 110
3 86% 83% \\,
8 A * A P a ss l8 tg u g 4 s ...lU 4 3 J.J
874
874
8 7 4 S a le
VV 2d gold 6s..................1939 F-A
99% 100
99 % 100
98 4 10 1
104 O c t ’01
8 F & N P 1st sink l g 68.1919 J J 100
A
p
r
1
11
J-J
Debenture
series
B
.......
1939
........
90
98
98
98
I
8 a v F * W e s t Nee A ll Coast E
1st ueu equip s fd g 6 s.,1 9 2 1 M-S 100 ....... 104 Al tiy’ l l
109 104
Boloto Val * N E Nee Nor * W
|
83 D eo’ 10
1st Hen 60 yr g term 4 s.1964 J-J ......... 85
87
87% 02 84% 88
Seaboard A E g 4s stamped ’ 60 A-O
87 Sale
677,
1st ret und ext g 4s ....I 9 6 0 J -J
68 bale
167 03 'ft 71%
„ 79%
79
80
4 75
Adjustment 6 s ............ ol949 F-A
Dei * Ch Ext l s t g o s ..1941 J-J 107 .......
10 (% lo»% :
» 867gJ ’ 110’ 11 . . . . 85% 87
Atl-Rirm 30-yrlst g 4s.el933 M-8
Dos Atom Div l s t g 4 s ..1939 J-J
81
814.
8 1 4 .......
91% A p r’ l 1 ____ 91% 91%
9 2 4 93
Car Cent 1st con g 4 s...1949 J-J
Urn
Div
1st
g
3
4
s
...........
1941
A-O
(0
4
70
4
7 0 4 75% ■
7
0
4
75
1
103
Alay’
li
102
103
Fla Oen * Pen 1st g 5s. 1918 J . J 1 0 . 4 .......
Toi * Ch Div 1st g 4 s ... 1941 M-8
85
85 i
8 1 4 83% 85 7 uy l l
1st land gr ext g 6s ...1 93 0 J.J 103 4 .......
49%
4 8 4 4o% 49
0 41% 49%
105% 100% Wab Pitts ’Perm 1st g 4 s .1954 J-D
100 107 *105% A pr’ ll
Consol gold 6s.......... 1943 J-J
Cent & o ld Col T r Co certfa.l . . . .
bo 1573 3» 4 50 ;
4« 4 Male 47 4
104% 104%
Ga * Ala Ry 1st con 6s oi945 J -J 106 4 ....... . 404% Alar* 11
60 344 40
Co umbia Tr Co etts...............*___
50
48
48 bale
104 105
Ga Car & N o ls t g u g 6s 1929 J - J 106 ....... 104% May’ ll
m -oiu 4 s . . . . . . __ .......1 9 6 4 J-D ........
74
74
44 J
109 109
Seal) * Ron 1st 6s.......... 1926 J •J 105% UO 109 May’ l l
Trust c o corns
8
164
3 4 Sale
34
8her SUr * So Nee Al K * T
1
a
^
Warreu Nee Dei Eao * West
811 ap Oca * U Nee Atl Coast E
Wash
Cent
Nee
Nor
Pae
Southern Paoitlo Co
Va«u o * W Nee aouthorn
4 927,
934 12 01% 037, V
927,
Gold 4s(C enl PaccoU).fcl040 J-D
ls t g u 3 4 s .. 1945| F-A
87% 88% 884 Alar’ 11j
8 8 4 00
08%
US’ 21 1 00 4 99 4 Waali’Porml
20-year couv 4s............ f/10'29 M-S
93 4 Sale
West
Jiaryland 1st g 4 s ... 1052 A-O
877, «aie
88%
87%
'T
77
00
97
4
41
07
97 4
Uent Puo 1st ret gu g 4s 1949 F-A
97 Sale
VV Va Cout * i ’ 1st g 6s 1911' J - j 100 ........ 100> May’ . 1
100% 100%
07 Fob’ ll 1.. ..
Registered.....................1949 F-A ........ 97
W estN Y * Pa l s t g 6 s ..1937 J-J
100
% no%
109% J
"
9
14
9
14
5
0
1
4
92
M ori guar gold 3 4 s .. £1020 J •!)
91
91*4
Geu gold 4s...................... 1943 A-O
88 %
1 15 88% 88%
02
93 4
Through at E 1st gu 4s ’ 64 A-O
90 4 93 1 93
„ 4 May 11
lucom e 6s......................<tl943;Nov
34 t
1064 1084
G H * S A Al * P 1 st6 s..1931 M-N 106 1084 197“ A p r’ l l
West No Oar Nee aouth Ry
May’ l l ' . . . . 103 103
Gila V G * N ls tg u g 6s. 1924 M-N 103 .........103
.j. lu5 105% Wueei’ g * E E 1st g 6 s ...19 2 6 'A-O
.. . |l03% 105
HOUS E * W T 1st g 68.1933 M-N 104 4 ........ T05
105Wheel Div 1st gold 6 s..1928 J
........ 104% 104 May 11 . . . .
105 105
1st guar 6s rod.......... 1933 M-N 1 0 4 4 .........106 Mar’ l l
*
exiou & im p gold 6 s ...1930 F-A ........ 1044 102 J ue’ 10
109 4 110%
H & T C l s t g 6s m t g u ..1037 J-J 1 1 0 4 ........ 1104 110%
UR 1st consol 4 s .............1949 A1-S
84 4 86 j 84 4
81%
2 a vl
Consol g 6s Int gu ar...1912 A-O 1 0 8 4 ........ 109 4 Mar’ l l
109 4 199 4
20-year equip s f 5s ...1 92 2 J-J ................... 9 8 4 F o b 'l l
084 904
03% 96 4
Gen gold 4s int gu ar..1921 A-O
94% J ’n e 'll
04%
W ilk e s * East Nee Erie
W a c o * N W div ls t g 6 s ’ 30 M-N 116
1194 Mar’ lo
Wu * aioux F Nee a t P M * At|
A * N W 1st g u g 6a___1911 J-J
1044______ 1074_ Jan 09 .. .
9 3 4 14 9 2 4 9 3 4
93 4 93 4 9 3 4
Morgan’s E u * T 1st 7 s .1918 A o 114 ........ llB S M a r ’ l l . . . . 116* 1 1 6 4 VVis Cent oO-yr 1st geu 4s 1949 J . j
a u p * Dm d iv * term ls t 4 s ’36 ‘M-N
03
924
9 02
0 2 4 9 j 4 92%
1st gold 6s..................... 1920 J -J 111
.........I l l Mar’ l l . . . . 111 111
N o of Cal guar g 6s..........1938 A-O .................... 112 Feb’o7
Pcivgrupn
and
Pelcpliono
,
Ore * Cal 1st guar g 68.1927 J -J 1 0 1 4 ..........190
J’no’ 10
Am Pelep * 141 coll tr 4s 1929 J-J
S I7, Sale
91%
Bo Pao of Uai—6s E..........1912 A-O 1 0 1 4 ..........101 4 Afay’ l 1
1U 14 1 9 2 4
co n ve rlib io 4s..................1936 M- S 109 4 Sale 109 4 112 340 105 1134
1st gold 6s F ................ 1912 A-O 1 0 1 4 .......... 114 4 Hue’04
M ich State Pelep 1st 5s . . 1924 F-A
100
99 100 100
bt| 98 100
1 s t cou guar g 8 s . ... .. 1937 M-N >'>»>
1 ,*‘ M»y’07
M" " 17
1 0 8 4 ........ 116
A Y Tolep 1 s t * gen s 1 4 4 » .’39 M-N 1004 -ala 10O
100 4 24 98% 100%
88% 93 : 90 J ’ly-09
8oP aoCousl 1st g u 4» g . 1937 J -J
9b% 47 ' 97
99%
»9*S Sale
99%
92
02% 9 2 4 J’ ue’ l l
92
03 4 Pae T el * Tel i at 6 s ........ 193 7 J -J
San Fran Torm l 1st 4 s..1960 A-O
103 c
5 I 99 4 103 4
. . . :Il01 “a 10 L7, West Union col tr cur 5s. 1938 J.J lo3 sale 103
T e x * N o a a b U iv ls t gOs.1912 M-S 1014 .........lO l’ s May’ l l
97
3 95
984
FU auu real est g 4 4 s ... 1950 M-N ........ 97
907,
101% 103
Coil gold 6s.................. 1943 J - J 101 105 101% May’ l l
Conv 4s, aeries A .......... 1936 Al-N 1047,1044 104 4 1044 13 103 1044
9 5 4 b ale 1 9 5
0 6 ‘3 2 0 'J l 9 4 4
96
Bo Pao Kit 1st rut 4s.........1966 J-J
...
J llS C E L l.A N EH
iUnniifnctui'iiiK & Indimlrlnl
Cuban-Amor Sugar colltr 6a ’ 18
Distil .-ec Cor conv 1st g 6 s.'2 i
E 1 d u l’ ont Powder 4 e s .. 1936
Gen Electric ueu g 3 4 s ..1 9 4 .
10-yrg dob 6s.................. 1917
Int Paper Co 1st cou g Os. 191.Consol conv s 1 g 6s.......1936
Int St Pump 1st s t o s ... . 1929
Lackaw Steel 1st g 6 s ....1923
Nat Euam * btpg 1st 5 s.. 192
N Y A ir Drake ist couv 6s ’ 2b
R y Steel Hpgs i st s f 5 s ... 192 I
Repub I * a 1 st* ooltros. 1934
Union Rag * P 1st si 6 s..l9 3 o
Stam ped...................................
U a Death Co b I deb g 6 s .. 1913
U S R e a lty * I couv deb g 5s ”24
U S Red * Ref 1st s t g 6s. 1931
♦No price Fridays latest bid
A-O
A-O
J-D
F A
J-D
F-A
J.J
Al-S
AO
J-D
M-N
J -J
A-O
J-J
05
904
78% 78%
85
82
102 4 salt
102% 103%
8 4 4 87
04% -ale
99 Sale
06
01
103 4 lU4 4
9 84 ... .
102 7g
90
95 4
9/
102 103
00
01
90 4 May’ l l
78 4
78%
81%
85
82 M aj’ H
102 4 103
10 24
102 %
80 J’no’ l l
94%
96
U8%
99
95 Alay'li
103 4 104
9 84 J’ne’ l l
103 4 103
95 A p r’ l l
04% 1 lie’ 1 ]
10-: % J’no’ ll
90
90'-.
70 A p r’ l l
084
764
827,
81
145
101
83 4
91%
90%
>4 4
102
97
»0
85
82
107
104 4
«7
96
99 4
95 4
HON Hr,—C oncluded.
.Hmiuinctui-iujf & Industrial
U a Kuouer lu-yrcoil tr0 s .’ 18 J-D
j o stee. Corp— l coup .U1903 M-N
al 10-tiu yi os. ( reg ..(tl9 o 3 M N
. a Car ( Hem is t to -y ro s 1023 J -D
West Eleotno .s t 6s Deo 1022 J-J
. oaUu-uouse E * als t os ’31 J-J
iiisceiinueoua
Adams e x 001 tr g 4s.........1940 M-S
u m o u r * o o lstie a io s t4 es’3 o J-D
,iusli Tormmal 1st 4s. ...1952 A-O
Cousot o s .......................... 1955 J-J
1ict 31 * 51 Id gr incom es..1 0 1 1 A-O
int Mercan Marine 4 4 s ..1922 A-O
.a t Navigation 1 s ts 158.1920 F A
M o r ris* c'o is t s X 4 48..1039 J -.
1 duck oO-yr 1st g 4 s..1051 F-A
.’Ub -orv Corp N J gen 5s.l9o9 A-O
Wash Water Row ist 5 s.. 1930 J-J
101% 105
105 4 105%
106% 100 J’ue 11
10 0 %
1004 100
104% 105
106% sale
105
100
102 aaie
96% o&le
l u l 7,
04 >,
102
06 4
103 105
103% 100%
105% IU04
LOO 102%
.00% 102%
91% 95%
86% 91
028a 93%
00
93 %
97 100%
106
35
97 4 99
08%
10 2 78 1 0 3
82%
9 0 -j 9 5
02
92
90
00
102 4 105
9 3 4 98%
89
91
.02*, 102%
70
88
and asked this week. 6 Due Feb R Duo Apr a Duo day (/Duo.Pne /tDueJ’ly /cDuo Aug oDue Jet p Due Nov s o o tto n bakt;
87
88
88
87
02%
92% 92% j ‘2%
»3 bale 93
97% 98
974
9 74
35 A p r 'll
67%
08 .
68 salt
s .-,
82% Sale 82
91
9 14 ul J ’n e 'll
o4
8 2 4 87% 84
94 Sale ■•3% 94
1 02 % ....... 1024 Mar’ l l
BOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and Yearly
SHARE PRICES—NOT PER CENTUM PRICES
Saturday
June 17
Monday
June 10
Tuesday
June 20
Wednesday
J une'll
Thursday
June 22.
Friday
June 23.
Sales
o f the
Week
Shares
STOCKS
BOSTON STOCK
E XC H AN G E
Range since January 1.
On basis of 10u-share lots.
Railroads
*112% 113% 112% 112%
30
;ch T op & Santa J.100 102% Jan 5
*10434 105% *10133 105%
25
.101 101% Jan 3
Do pref______
222 222% 222
122
69 Boston & A lb a n y . .l o t 219 Apr 21
128% 128% 128% 128%
131
.l o t 127 Apr 26
*216 217
21G
210
124
- l o t 207 Feb 1
108 107
105
105%
406
. 10c 101 MaylO
Last Sale 297% J'ne’ l l
10C 292 Mch 2l
*13% 15
*13
15
"foo
Cos.
13 J ’ne 20
76% 76% *75
...
10 Do pref.
72 Jan 6
*10 . . .
*10
...
oston * VVi
Cos.
6 Feb 15
52
52
52
53
Do
pret.
38% Jan 3
*157
. . . *157
...
.100 156 Apr 29
Last Sale 110% J’ne’ l
Do pret.
107 Mch 17
Last Sale 272 J’ae'l
-10(J 265 Jan 31
*------127
* ___
127
Fitchburg:, pret_____ .106 125 Apr 10
Last Sale 150 J’ne’ l l
" a R y & Electric___ .106 117% Jan 23
9!
93
*93% . . .
Do
pret________
80 Feb 20
Last Sale 200 May’ l
200 May 2
23 2314 2234 2234 *22% 23
22% 22% 22% 22%
885 Mass Electric Cos____.100 16 Apr 20
9214 93's * 02l2 92% 92
92% 92
92
91% 91%
384
Do pref___
.100 8334 Jan 9
143% 144
14312 143% 141% 143
140 141% 139% 141
1,112
.100 139'% J ’no 23
___ *111
*111
Last Sale 141 J’no’ ll
.100 139 Jan 13
*212
___ *212
*212* ” ” *212 . . .
212
212
” *8
.100 210 Jan 26
IS 7 188
183 188
183 188 *187 188
137
187
80
183 Mch 15
*10
*10
-12
42
*10
42
Last Sale 12
J’ne’ l l
32 Jan 26
111 111 *109% 111
111 111
111 111 *110
111
"(SO
.100 105% Apr 18
10! 103
103 10!
102% 103
102% 102%
42
Do pref.
x97% Mch 13
135% I 8OI4 *185% 185% 185% 185% 181% 18*4% 1843s 185
441
.100 171 Jan 3
*0 II4 9434 *91
91% *94
94%
Last Sale 94
J’ne’ l l
Do pref______
00 Mch 9
.
* 10!
___ *162
*162
Last Sale 161 J’ne’ l l
Vermont & Mass. .100 156 Mch 21
OU2 0H2 90% 91% *------ 90% 90
90 *-----90
145
89 Apr 26
*101 101% *104 .
101 104% 105 105 *102
104%
18
Do
pref________
102 Feb 27
Miscellaneous
57
57
57
57
57% 57% 57
57
*56%
57
110 Amer Agrlcul Chem. .100 46% Jan 3
1027s 103
103 103% 102% 103
103 103% 102% 103%
188
Do pref________ .100 09 Jan 6
434 5
*4% 5
*1% 5
6
*4%
300
4% Jan 4
. 50
10'2 IG'2 167g 17 *16% 1G% *16% 16% * 1G% 17
45
Do pref________ . 50
14 Jan 3
12034 121
120 121
119% 120
119% 119% 119% 119%
202 Amer Sugar R e lln .. .100 11334 Jan 5
no no'
119 119% 118% 119
118 118% *118
113%
Do pref________
200
1U34 Jan 6
151 152
14734 151% 14734 148-% 147% 1433g 148% 149
6,151
.100 140 Jan 3
33
33
32% 33
31
31%
232
.100 31 Jan 4
95U 9578 95
95% 94% 95
91% 91% x9 o'
9T
1,351
Do pref__________ 100 x86 Mch 29
* 10% 11
*1012 11
10% 10% *10% 11
* 10% 11
10 Atl Gulf & W I SS L .100
8% Jan 17
*21
22 *21
21
22
21
*21
22
*21
22
10 Do pref__________ 100 21 Mch 11
*712 8I4 '___
7
8%
Last Sale 8
May’ l l
Boston L and_________ 10
5% Jan 13
*15412 . . .
158% 156% *15512 - 153% 15G3g *15G%
17 Cumb Telcp & Teleg.100 145% Jan 10
10 10'4 10% 10% 10-% 10% 10% 10% 10% 10%
730 East Boston Land______
7% Jan 18
288 280
285 285 *281 285 *284 285
65 Edison Elec Ilium ___100 282 Apr 3
16214 105
lot's 101% 103% 163% 162% 163
163% 163%
65S General E lectric_____ 100 1115% Mch 3
93% 93'2 93% 93% 93% 93% 93% 93% 93% 93%
611 Massachusetts Gas Cos 100 87% Jan
9012 97
*95
98
95
95
95
*95
90
95
Do pref__________ 100 95 Jan
185
*22 H4 225 *224% 225
223 224
224% 224% *222 224%
60 Mergentnaler L in o___100 211 Jan 4
*1
412 *4
4% *4
4%
Last Sale 1
J’ne’ l l
Mexican T elep h on o.. 10
3% Mch 20
*113 . . . *113 . . .
111 114 *113 ___ *113
...
‘ 166 N E Cotton Yarn____ 100 110 Jan 3
*110 112
112 112
111 111 ♦ 111 112 *109% . . .
16
Do
pref__________ 100 100 Jan 3
(*149'2 150
14734 11734 146
150 150
148
146%
184 N E Telephone______ 100 137 Jan 14
t* 102% ___
* 102% ___
Last Sale 103 Apr’ l l
Pacific Coast Power 100 96 Jan 9
102U I 62I4 102* 162' 162 162% 162 162
162
162
"l54 Pullman Co__________ 100 158 Mch 6
14% 15
15
15
175 Reece B u tto n -H o le .. 10 xl2 Jan 5
102 102 102 102
102 102
102 102% 102% 102%
472 Swift & Co___________ 100 100 Jan 26
31
3U4 *31
3134 *31
3112 31% 31% *31
3134 208 Torrlngton____________ 25 30 Feb 1
29% 29% *28% 30
*29
30
*27 ___
29% 29%
40
Do
pref___________25 27 Mch 23
195'2 19012 195 195% 195 195
195 19534 Xl93
193
532 United F ruit________ 100 180 Mch 13
60% 51
50
51
50% 50% 249% 50
49% 50% 1,585 Un Shoe Mach C orp ._ 25 x49% J ’n e 22
2S34 29
28% 29
29
29
228% 283g 29
29
173
Do
pref__________ 25 2<%J’ne 2
787* 79% 78% 79% 78% 78% 77% 78
777g 78% 11,188 U S Steel Corp______ 100
71% Jan 3
118'* H 8I4 118% 11834 119 119
118% 118% 118
118%
60
Do
pref__________100 11634 Jan 3
*19
20
19
19
*19
20
20
20
20
20
18 West Telep & T elcg._100
10% Jan 17
*90
97
*90% 97
*96% 97
96% 96% *96
96%
Do
pref_________ 100 89 Jan 23
10
.
,
Mining
7
7
* 6% 7
7
7%
7
7
6%
6%
645 Adventure Con______ 25
4% Apr 24
1044 10-% 10
10% 10 10
10
10
10% 1,602 Algomah Mining_____ 25
10
6 Jan 24
32
3212 *32
32
32% 32
*30
32% *30
32%
45 Allouez________________25 30 Apr 25
71
71% 70% 71% 70% 71
69% 70% 70% 70% 7,409 Amalgamated Cop'p'er" 100 59% Apr 18
30
30
29% 30
29% 29% 29% 29% X28% 287g 1,558 Am Zlno Lead & S in . 25 23 Jan 27
I 7I4 1712 17% 17% 17% 17%
17
17
17
17%
062 Arizona Comm ercial. 25 11% Apr 24
*0
6% 6% *6
0l2
6% 6 1-16 OH
6%
61
160 Atlantic _____________ 25
3 Apr 12
>*•60 .70 *.50
.70 *.50
.75
Last Sale .70
J’ne’ l
Bonanza Dev C o____10
.60 Jan 6
♦14I2 15
*14% 15
14% 14.% 11% 14% *14
15
5 11% Jan 13
'150 Bos&CorbCop&SilMg
5
5
5
5
6
5%
*434 5
*4%
5
195 Butto-Balaklava C op . 10
4% Jan 30
19% 197g 19% 19% *19% 19% 19
19
19
19
355 Butte Coalition______ 15
16% Apr 24
G214 62% 62
02% X61
6134 59% 5934 59% 01% 1,869 Calumet & A rizo n a .. 10 46 Jan 19
475 475
475 475
475 475
475 475
475
475
455
M a yll
25 Calumet & H ecla____ 25
12% 12% *12% 13% *12
13's 13's
13
*12
13
25 Centennial________
11% Jan 30
25
*.10 .11 *
.11 *.07 .12
.07 .07 *.07
.10
100 Cous Mercur Gold _ _ 1 .05 Jan 6
62% 62% 62% 63
63
63
61
62
62
62
707 Copper Range Con Co 100 58% Apr 22
6
6
0
6
G% 6% *5% 6% *5%
6%
745 Daly-W est_____
_ . 20
3 Feb 8
1334 14% 13% 14% 13% 13% 13% 14
14
H I.
8,651 East Butte Cop Min
10 10% Apr 22
13»4 1313 *13
13% *13
13% 1234 13
12
%
713 F ra n k lin ____
12%
25
7 Jan 21
7
7
7
7
7U
7
1 3 -1 6 7
6-% 0 13-10 2,325 Giroux Consolidated. .
6% Mch 10
41
43
42% 43
43
43% 4 2 % 4 2 %
42% 43
947 Granby C onsolidated.100 30 Jan 20
7 13-18 778 7 13-16 7%
7% 7%
7%
75g
7% 3,088 Greene Cananea_____ 20
7%
6% Mch 10
29% 30% 29
29% 29
29
2 7 % 2 8 % *28
28% 2,793 Hancock Consolidated 25
18 Jan 24
1
1% . 1*2 * 1% 1%
1
* 1% 1%
1%
145 Helvetia Copper_____ 25
1%
.99 A pr 22
15% 15-% 15% 15% *15
15% 15'
153S 15
10
.4
151,
165 Indiana Mining______ 25
10% Apr 24
9% 9%
9% 9%
9
9%
9
9
87g 8 15-16 7,265 Inspiration C o p p e r _10
7% Apr 27
39
39
39
39
39
39
39
39
280 Island Creek Coal___
29% May 9
*88 88% *88 88%
90
90
90
90
136
Do pref__________ _ 87 Feb 3
18% 18
18
18
18
18% *18
18%
m
580 Isle Royale C o p p e r.. 25
Apr 8
5% 5 9-16 5H 5 9-16 5 7-16 5 7-16 1,297 Kerr Lake___________ 5 12%
6% 5 13-16
5% 6
6% J ’na£0
3
3% 3%
3% 3% *3% 3%
3%
3%
3% 1,910 Keweenaw Copper___25
1
%
Maylu
39
39% 38% 38% 38% 38% 367g 3 7 %
37% 37%
900 Lake Copper Co_____ 25
20% Apr 22
*4
4
4
*3% 4
4%
4
4
3%
30 La Salle Copper_____ 25
3%
3% May 5
9% 9%
*9
9% 9% *9 . . .
9%
50 Mason Valley M in e s ...5
6% Apr 24
10
"o '
9
9-% 9%
9% 9%
" 9" 2,225 Mass Consol_________ 25
5 May 10
1% 13,, * 1% 2l4 * 1%
2
*134 2
2
160 ayflower______ ” ” 25 .20 Feb 18
22% 22% 22% 22% 22% 227g 22% 22% 22% 22% 1,123 M
Miami Copper.
~ a 18% Apr 6
2% 2%
2
2
2% 2%
~
2%
120 M i c h i g a n . . . . . . : . " ' 25
1% Apr 7
52
62% 62% 62% 62
62
52
"50‘
50
60
685 Mohawk_____
25 30 Apr 18
20% 20% 20 20% 20 20% 19% 20
19% 197g 1,737 Nevada Consolidated: 5 17% Apr 21
*3% 37s
3%
3% 3% *3% 3% *3% 3%
3%
110 New Arcadian Copper 25
2% Apr 24
10% 10% 103S 10% 10% 10
% 10% 10% 10% 10% 1,763 Nlplsslng Mines
5 10% J ’ne2l
33% 34% 34
34% 35
35
34% 8,309 North Butte________: 15 25 ■’ Apr 24
33% 3378 34
9
8% 9
8% »
8% 8%
8%
9'S
8%
655 North Lake_____
" 25
4% Apr 22
7% 7% *7
7%
7% *7
150 Ollbway M ining.” : : 25
7%
7% *7
5 Jan 17
1% 1%
.75
1% 1'2 1% 1 3-16
3,435 Old Colony________
1
%
25
1
%
Jan 6
.50
4<
8% 49 X48
43% 48
48
48
*47% 48
48
940 Old Dominion Co” ” 25 35 A pr 22
105 105 *103 106
104 105
108
104 105
106
181 O sce o la ___________
25 95 A pr 24 1
12% 12% 12% 12-% *1234 13
12% 123,. *12
13
125 Farrot Silver & C op : 10 11 Jan 26
723. 73
* 7 2 % ___
72% 74
73
82 putney............................. 25 65 Jan 25
73% *73
75
18
13's
17% 18% 17% 177g 18
18
18%
991 Ray Consol C o p p e r.. 10
18
15% Apr 21
1% * 1% 1% * 1% 2
* 1%
100 Santa Fe Gold & C op . 10
* 1%
1
%
1
%
1
%
% Apr 26
11% 12
11% 11% 11% 12
11% 11% 11% 11% 1,859 S h a n n o n __________
10
9^4 Apr 11
.95 .95
.90 .92 *.85
.90
‘.au .87
.85
.85
850 South Utah M & S . . . 5 .75 Apr 18
*33% 34% *33% 34
*33% 3334 Last Sale 34
J’ne’ l l
superior_______________ 25 30 Apr 24
77S 8
7% 7%
7% 7%
7%
7% 1,600 Superior & Boston Min lo 2i%o Apr 7
7% 75s
18
13
17% 17%
18
17
17%
394 Superlor&Fltts C op p. 10 13%Jan 3
35% 35% 35
35
*35" 36% *34
36
*34
25 tam a ra ck ____________ 25 34 A pr 21
37
4% 43.
5
5
43,i 43.,
4% 4%
4%
4%
489 7rrlnity............................. 25
3% Apr 22
39% 39% 39% 40
39% 89% 39
39% 3 8 %
39% 2,351 U S Smelt Ref & M in. 50 33%
Apr 7
49
49% 49% 49% 49% 49% 49
49
49
49
629
D » pref.....................50 45% Apr 4
3% 3% 3 3-16 3%
3% 3% 3 3-16 3 3-16 *3 5-10 31*
505 Utah-Apex Mining___ 5
2 Mch 10
19
19
19% 19% 1S% 19
18% 18% *17% 18%
551 Utah Consolidated___ 5
9% Jan 20
61
6134 61
51% 49% 50% 60
61% 51
60% 1,627 Utah Copper Co_____ 10
42% Apr 18
*134 2
* 1% 2
2
2
2
2
*1%
2
380 V ictoria_______________25
*834 9
1% Mch23
8% 8% * 8% 8%
8% 8%
8%
8%
715 W in on a_______________ 25
6 Apr 18
115 115
115 115 I*113 115
113 113
113
114
40 W olverine____________ 25 107 Apr 26
♦1%
1%
1% 1*4 * 1% 17s * 1% 1%
1%
50,
1%
W yan d o t t ____________ 25
1% Jan 25
fltii aad asksd price* d Now stock, t Asa’ t paid, b Ex-stock diy. /» Ex-rigats. o K x -d ly . and rljuta,
I ll's 114la *11373 ll4tg *113% 113%
*10134 105% 105 105 * 101% 105%
222 222 *222 223
222 222
12012 120 129'2 129 129%
215 215 *21G 217
210 217
103 100
107 107
105% 107
♦205
*293 207 *295
♦15
13
15
14
14
♦75
*75
*75
*10
11 T i
*50
51
51
*59% 51
51
*157
157 157
*157 . . .
* 110*2 112 *11012 112 *110% 112
*271
. . . *271 . . . *271 ___
127 127
*12712 123 * ___ 127
*151
. . . *151 . . . *1 5 0 % ___
93
0312 *03 . . .
*93 ___
!'4
F4
Range for Previous
Year (1910).
Highest.
116% J ’ ne
105 J ’nc:.o
226 Feb 15
1297g Feb
217 J ’ne21
122% Feo .5
500 Moh 6
16 Mch 15
76% J ’ne2.
11 J ’ne2i
53 J n e2 3
161 Feb 27
113 Feb 20
272 J ’ne 6
130 Jan 4
150 J ’ ne 13
93% J ’ne I d
215 Jan 18
24 J ’nc 3
93% J ’n ely
151% Feb .3
142 Mch 0
212 Apr 29
189 J an 3
43 Feb 21
112 Feb 27
103 J lie 13
188 J ’ne 8
95% Alavl2
164 J ’ne 16
93 Men 22
105 Jan lo
91% J’lv
97% A 112
218 J n c
70 J’ly
8 Mch
35 Aug
139 Sep
109 Oct
260 Oct
124% Sep
104
85 Apr
202 Feo
14% J ’ly
75 J ’ly
119 Apr
139 Dec
210 May
181% Sep
25 Mat
103 Aug
08% Aun
153% J Ty
89% J ’ly
151 Oct
83 Sep
99 J iy
4 J ’ly
734 Dec
31 J ’ly
55% J y
19% J ly
12% May
5 J no
.60
Mch
10 May
4i2 Nov
15% J ’no
44% J ly
000 J ’ly
13% j ly
,04 J ly
68 Feb
3% Sep
6% J iy
9 4 Dec
0 J’ly
20 J ’iy
6-% Sep
14.% J iy
1.% Oct
10 J ’ly
*35% Dec'
84% Nov
13% May
x0 Sep
3 J ’ly
28% J’ly
0% Dec
J une 211011
Boston Bond Record
IIOA l>r»
Price
J'riUav
June 23
BOSTON STOCK KXCH’ SJt
W kek Endinc, J unk 23
Weekfs
[2 2
Mange
Range or |o®l| Since
Last Hale
January l
High Ao, J.ow Hig h,
Low
Am Ayrioul Chem 1st Os..1928 A-O
101 *3 10134 O 101*4 102
AIU 1 Old) ite To, coil U 43.1929 J . J
917g Sale 1 91*3
9 178 120 89 *3 92
Convertible 4 a .. ........... 1938 M-s
103*, 109*4 10 1057s 111 *-i
Am Writ Timor 1st s 16s g 1919 j . j
90
1 90 F e b 'l 1 . . . J 90
Am Zinc Life S deb Os___191.) Ji-N
100 122
122*3 J ’no 11
Ariz Com Cop 1st conv 0a 192(1 J-D
92
91
92
92*4
92*3 20. 8.4
AtCllTopcfc S F egen g 4a.. 1995 A-O
9M34 4 98
99 *3
9834 Sale
9834
Adjustment g 4 s ___J ’ ly 1995 Nov
91
92
91 '8
91 A p r’ l l .... 91
S tam ped...............J ’ly 1996 M-N
1)1
92
91
92
92 Slay’ l l
60-year conv la............1956 J-D
10'j«8 Mar’ l l .
109 3a 1093*
10-year conv 5a............1917 J-D
Ill)"* M ar’ ll!,
108*4 llU-^
Atl Quit & W 1 SS Lines 5 s.’ 6 9 lj.J
70
71
73
71
71*8- 21 08
Boston EleOl 1-Consul oh. 1924 M-S
110 F eb’04
Boston & Lowell 4a.......... 1910'J -J
100*4 Mar’09 ■
Boston os Maine 4 ^ 8 .........1944 J-J
104 Si Oct ’08*.
Boston Terminal 1st 3*as.1947 F-A
112*3 Jan ’03!.
Bur & Mo iliv cona 0 8 ___1018 J - J
103 103 *3
103 J a il’ l l .
Butte <fe Boston 1st Os___1917 A-O
100 J ’ne’O l1.
Butte Kleccfe l ’ uw ls t g 5 s . 1051 j-D
Cedar Hap <fc Mo H 1st 7a.1910 Wl-N
113-, .May’ 10
UOeJ
Cent Vertnt 1st K 4a..M ayl920 o -F
90 >5
87*3 90*3
90 >a
C B & g Iowa lliv 1st 68.1919 A-O
11103 Oct ’07'.
Iowa lliv iat 4 s ...............1919 A-O
99 F eb ’ l l 1
Debenture 6a................... 1913 M-N
10 It M ay'll .
O0\ 101*4
Denver Exten 4a............ 1922 F-A
991 •May’ l l
99 ‘4 100
Nebraska listen 4 a .......1927 M-N
99 *a May’ l l
98**8 99*3
B H S W a I 48................. 1921 M-S
99 ‘s Feb’ l l ,
99*8 99*8
Illinois D i v a ‘as.............. 1949 J-J
S7\ Mar’ l l
87 Bg 88*4
Oulo J 0 Hy »te StK Yds 68.1915 J-J 102 Sale 101
102 I 18 100 102
Coll trust refunding g 461940 A-O
90 i 91
90 ‘a
90*4
0 89*3 90 a4
Oh Mil <fc St JODub D Os.. 1920 J -J ................... 114
Jan ’ l l . . . 114 114
Oil M <te Ht T Wla V div 0al929 J-J ...................1 13®g Feb-ID
I'liO 's l i 3 Ba
Chic as No Mien 1st gu 5 s.l9 3 t M-N
99 100 100
..... J’n o 'll ...I 98*u 101
Ohio * W Mich gen 6 s ....1921* J -D 102 103 101 >4 M a y'll ..J 100 101 ‘*4
Concord <te Mont cona 48..19201J-D
91 D ee’07 ...II........
Conn As Pass It 1st g 4a... 19131A-O
112*4 Jan ’ 03'
Cudahy Pack(The)lat g 5s 1924 IVIN1 ................... 1100*4 Aug’09
Current Hiver 1st 5s........ 1920 A-O
.Mill’ l l ...'! 97
97
87^ J’neM 1 ...'I 87
Det Ur Bap <fc W 1st 4 a ... 1940 A-O " " " " " "
87 *8
Dominion Coal 1st a 1 6 s ..1940 M-N
98
98 *3! 98
98
| 3; 9034 98
Fitchburg 4 a ...................... 1916 M-S ................... 10 J >s Apr ’05
4 a ...................................... 1927 .M-S ................... | 90 A pr’ 08
Fronit Elk & Mo V lat 0a ..l9 33 A-O .....................127*4 J an ’ l l
127*4 127*4
Unalaiupeu 1st 0a.......... 1933 A-O ........................140
A p r '05
97 *3
Gc Not C 11 & ej eull tr 4s 1921 J -J j 97 7# Sale
9778 45; 95*3 98:l4
ilegiatereu 4a................... 1921, y -J i 97*3........ 97*3
07 Hi! 1. 96**s 98
1093
BONDS
BOSTON STOCK E X C H ’ GK
W kkk E nding J unk 23
Illinois Steel deben 6s___1913 A-O
la F a lls* S io u x C ist 7 s.. 1917 A-O
Kan O Clin * Bur 1st 6 s ... 1925 A O
Kan C Ft S * Gult ext 5 s..1911 J -D
Kan C Ft Scott * M Os. ...1 92 8 M-N
Kan O M 4 B gen 4s.......... 1934 M-S
Assented income 6s.......1934 M- S
Kan C & M Hy * Br 1st 5sl929 A-O
Maine Cent cons 1st 7 s ...1912 A-O
Cons 1st 4 s ...................... 1912 A-O
Maro H ough& O nt 1 s t Os.1925 A-O
Mass Gas 4*33.....................1929 J -J
M id i T elep lst 5s................1917 J- J
Minne Gen Elec con g 5s 1929 J-J
H ew E ng Cot Yarn 5s___1929 F-A
N ew E ng Teleph os.......... 1915 A-O
fis........................................ 1910 A-O
N ew England cons g 5s... 1945 J . J
Boston Term 1st i s .......1939 A-O
N ow ltiver (The) conv 5s. 1934 J-J
N Y N H * H con deb 3 *381950 J - J
Conv deb Os ( c t f s ) ........ 1948 J-J
Old Colony gold 4 s .............1924 F-A
Orog H y * N'av con g 4 s ..l9 4 0 J-D
Oreg Sh Dine 1st g Os....... 1922 F-A
Pero Marquette deb g Os.. 1912 J -J
ltepub Valley 1st s t Os...1919 J-J
ltutland 1st con gen 4 *38. 1941 J - J
Hutland-Canaiilan 1st 4s 1949 J-J
Savannah Elec 1st cons 53.1952 J - J
Seattle Eleo 1st g 5s........193U F-A
Sliannon-Ariz 1st g Os__ 1919 M-N
T erre riaute Eleo g o s __ 1929 J -J
Torrington 1st g 5s......... 1918 M-S
Umou Pao HH & 1gr g 4s. 1947 J - J
2l)-year conv 4s.............. 1927 J -J
United Fruit g e u s t 4 *38.1923 J .J
U S Coal * Oil 1st s f Os.. 1938 M-N
U S Steel Corp 10-00yr os. 1903 M-N
West End Street Hy 4s__ 1915 F-A
Gold 4 'a s..........................1914 M-S
Gold deoenturo 4s..........1910 Wl-N
Gold 4s............................. 1917 F-A
Western Teleph * Tel 6s. 1932' J .J
W isconsin Cent 1st gen 4sl949 J - J
Norm—Buyer pays accrued interest in addition to the purchase price for all Boston Bonds.
75 Oct ’10
9034 May’ l l .
133’s May’ l l .
101 A p r ’0 9 .
987s Sep ’09 .
1 14 7g F eb ’ l l . .' 1143i 1147g
98 J’n e 'll . J| 98
983i
103 J a n ’ l l . .1 0 3 103
................107 *3 Aiov’uS .
................102 Mai’02 .
70*i D e c ’10 .
103-3 105 104*2J ’ ne’ l l . ..' 104 105
93 Apr ’ l l 1. .. 93
91 . . . .
93
97 A p r’071.
1U03, Mar’ 1 0 .
101 J ’ue’ l l . .. .‘•lOOSs 101
1U458A p r’ l l l . ... 1043s 104®»
90 ’1
90 *4 4 95*6 97*3
90*3
105 Nov 10|.
. . . . ............ 1105 *3 105*3: ”i io i'i ibo”
................... | 99 M a y 'll!. ...'I 98 8, 99
................... 100*3 May’ l l 1. ... 100*6 100*3
98 *3 A pi■’ ID*.
98*8 Jan ’ 1 1i. ::: 98*8 ‘ os**
99 *3 sale
99 *2 993i 13 ; t o 3! 100
93 *4Jan ’ l l '. ... 13** 93*1
r
* No prioe Friday; latest bid and asked.
1J Flat price.
Philadelphia and Baltimore Stock Exchanges— Stock Record, Daily, Weekly, Yearly
s h a r e P rices—Not P er Centum P rices
Saturday
June 17
Monday
June 1’J
Tuesday
June 20
0334 9334 02*3
........
99
*129
M29
*T____
6L
61
61
18>a 18*3
l b °8
lb*^ 18®8
0334 9334
129 ' 129
\Wednesday
June 21
44
46*8
Bid
Ask |
in a ctiv e m u cu s
ii
82*2 83
82
82*3
Highlander M ill* 51g..5
U untiuguon * B T ___59
Preferred ................... oo
Indianapolis St.......... 100
Indiana Umou T r ....l0 0
Insurance C oot N A .. 10 * 2078 ’ Sfi”
Inter Sm Pow * Cliem.60
Keystone Toicp v t O..50
P referred ...................60 ........ ........
KeystouoWatcliCaso.lOO
Leli Vail Trail v t O...50
834 9
Preferred v t 0...........50
22*4 23*8
Lit Brothers..................10 16
16*8
Little Schuylkill.......... 50
Mluehtll * Scliuyl H ..50
N a t G a s E lo o L t * P o 100 20
P reieireil..................luu
70
N H aven iron * s to o l.5
Northern Central........ 60
::::::
North Pennsylvania..50
Pennsyl warrants ..(w 1)
110 *2
Pennsylvania s u n .
‘
44*2 44**4
86
Hallways General.......10
Tonopali Belmont D ov. 1
United Cos o i A J ....1 0 0
Unit True Pitts p re f..50
W arwick I r o n * steel. 10
Wolabacli C o................100
W est Jersey * SeaSh.50
Westmoreland Coal....5 0
W ilkes G a s * E lec ..100
York Hallway............... 60
P re fe r re d .................. 60
6
Sales
Friday
June 23
0/ the
87
6*8
42
9 78 " 10*4
13 *3
*4334 41
4 434 46
* 12*8 12*4
66
6634
33
*32
73 ^ 7«> Si
9
*8
20*4 26H)
a n 8b 34
883 89 *a
02 62t,6
*66
o7
17*« 17*4
19*4 L9 *3
79*4 79 *3
5 15i0 615ie
49
88 b 8**8
P H IL A D E L P H IA
B onds
Price.? are all *•and
interest
A lt& L V Eleo » *3S’ 33.F-A
Am Gas * Elec o s ’07. F-A
A m ltyseou vas 1911.J-D
Coll tru t Cs 1917.A-O
A tl C Eleo ref 6s *38.M-S
B erg * EBrw 1st 6s’21 J -J
Betide Steel 63 1998.Q-F
C h o c* Mo 1st os 1949 J -J
Ch Ok * G gen 6 s ’ 19 J-J
Con Traoot N J 1st 5 s.’33
Del Coltys tr ctfs 4s’ 4 ;•J-J
E * A 1st .U 63 1920 M-N
Elec * l ’ eo Tr stk tr ctfs
Gen AspLalt 6s ’. 916.M-S
ludiauapolis Hy 4 s .1933
Interstate 4s 1943 ..F -A
Keystone Tel os 1936.J-J
Lake Sup Corp inc 5s’ . 4 O
Lehigh N av 4*33 ’ I 4. 14-J
Gen 51 4*38 g.l924.(J-F
Loh V C 1st os g ’3 3 ..J-J
Leli V ext 4s 1st 1948.J-D
Consol 6s 1923.......J-D
Consol 4*33 1923...J-D
Annuity 6s ............. J-D
Gen cous 4s 2003.M-N
Leli V Tran con 4 s ’35J-D
ls ts o n e s B 5 s 1936.M-S
N a tE I I * P serB 5s’ 19J-J
Now Con Gas os 1948 J -D
N Y P h * N o 1st 4s ’39 J-J
Incom e 4s 1939...M -N
NoOldoTrac cou6s’ 19.J-J
Penn * Aid Steel con 6s.
Pa * N Y Can 5s ’39. A-O
PonuSteel 1 st5 s ’ 17 M-N
Peoplo’s T r tr certs 4s ’43
P Co 1 st* col tr 5s’49 M-s
C on * coi tr 6s 1961 M-N
Phil Eleo gold trust ctfs.
Trust certlfa 4s.............
P * E gen M 6 g ’ 20. A-O
Qen M 4s g 1920., A * 0
*12
B a lt im o r e
281
Do
pret.
P hiladelph ia
110 American C em en t....
2118
918
135
1,715
luu
197
1 lu
1,066
221'
851
1,422
708
8,209
1,47 i
7.100
1.100 Tonopali .Mining
l,10o
88*4 2,330
13
4378 43 7e
14'a 45
* 12 *8 12*,
65*8 55*8
*32
33
737s 7 3 7s
*8
8*3
20*4 2 1
8b ®a 8b
89*8 8.1*8
62
on
*60
66*3
17*4 17'V
19*8 19*3
79«1u 79*6
6*»ia 6
49
49
88
Bid
Range Since
Jan1 1011
A C T IV E S T O C K S
Week (F o r Bonds and inactive
Stocks see below J
'Shares
92*3 *91*3 92*3 *91*3 92*3 *9134 92*3
99*4 uo s* yya4
U9‘a 99*4 99*4
129 129 ' 129*4 130
129 7t 1297$
•t,i\
27
27 «6 27 -1 28
28
61 ’
01 s*
01
01 Si
1834 19 *3 19
lb 34
19 ’ 19*8
19*3
13
13
13
13 *
136,
4334 44
4334 44
44
44
46
45
46*8 46*4
* 1 1 7a 45 >s
12 *» 12*8 * 12*8 12*4 12
12*8 * 12*8 12*4
66'8 66
6534 66*,
66 60
55*3 66J4
33
*32
32 34 *32
33
33
*32 Si 33
7.i*3 74
*73 *a 74
73*3 73H.
73 7s 73 7a
9
9
*6
8
»
20 *3 2078
27
27*4 *26*4 27*.i
27*3 27-,
80 89
89*8 b9*s
8b34 88*4
88°8 8a3,
88*3 8834 89*4 b9 *4 8'J;is 89 *8 8 9 ‘a 89*8
02
6i :V 02’4 02**y
623i8 62**8 62*4 6!i7ie
66
67 *3 i 6
♦66
6034 5 /
66*8 55 78
17
17
17 *8 17
17
17
in ,
17*8
193* 19 34 1U34 19 **4 19*4 10®8 20
20
7U16ie
79 *379**10
7 9 >8 7 9 7s 7913,8 80ii6
5 78 0*8 *0 'a 0
*578 616io
016ie
49-4 49*4 493 49-b 49 4 49
•49*4 49
87 ne b7J4 87 7a 88
88*4 88*4
88*4 88*4
*13
44
46
Thursday
June 22
Ask
P H IL A D E L P H IA
Highest
100 64
Jan
Jan
Jan
Jan
43 *4 Jan
60 16 *a Jan
89
121
21
Bid ' Ask
58
83 *3 81
68*3 69*3
101
Ala Cous o'oalifc lio n . 100
P r e t .......................... lo o
40
97*4 100
A llan CoastE (Conu)lOO 245 250
Canton Co.................. 100 119
Cons Cot Duck c o r p ...6 0
3
P referred .................. 50
17
Georgia Sou & F l a ...100
yy
95
76
G-B-s B rew ing.......... 100
*9 1
Builds
Prices a re a ll ” and
interest.”
97-,
Atl Coast E(Ct)ctts5s J-D
104
B altCPass Is t S s ’ l l M-N
yy Si
109 100 **
104
*94*3 95
104 ......
108*3 109*4
103S 104
117*2 118*3
147
97**t 97*3
............. .............
...... ............
ibu
101
101*2
Lowest I Highest
9 94 May 2 9. 46 Mar
9 100*3 J ’no 7 80 Mar
1 130 J ’ 11622 115 Jan
4 2836J’ne 3
J ’ly
4 62 J ’no 3 40 Get
9 19*3 J’ne2l! 12at May
50 12 May 23
60 42 •Jan 6
60 12 •a Jan 3
10 11 *3Jan 4
100 48*3 Jan 3
100 31 *3Mar 4
100 72 Mar. 0
50
8 J ’ne 3
1UU 26 4J’ne‘i 2
60 SO May
50 84 *a Apr 2*1
60 60 4 Mayi 0
60 XdO Jan 3
26 16 Jan 19
50 17 Apr
50 7415 e A pr 24
1 5 8 J ue 1
60 43 Jan 3
50 86 *3 Jan 8
1........
PU & Head 2d 5s '33. A-O
E x Imp M 4s g ’47.A-CJ
lOO\
Terminal 5s g 1941.(J-F 117 117*4
...... .............
P W A B col tr 4s ’ 21.J-J
9U>a 100
S3
86*4 Portland Hy 1st 6s 1930.
100*8 100*2 Head Trao . st 6s 1933 J-J 120 125
91*4 95
Booh Bycta Ecoii 5 s ’54J-J
!‘ 9 78
.............
Spanisn-Am Xr 6s '27 J-J 101*'. 102
101
Stall’d Gas <&K 6s ’26 M-N lO l'* 102 >t
............ il7*2
........
U True luu gen 6s’ 19.J-J
10 7**4
U 11 Hys Tr ells 4s’49J<fcJ
77*3
102*3 103
United Hys lu v ls t c o llt r
105
s f o s 1926............... M-N
85 7i 86
............. 78
Welsbacli s t 6s 1930.J-D
89
Wlks-B G<fc E eou5s’65.*-J 101
91
90
York Hys , st 5s 1937.J-D
96
......
94
liA L lD U O lt E
Range tor Previous
Y ea r(1010)
17 *3Jan 4 17 Dec
45 *3Jan 2u 4 l 3. J ’ly
li»4 Hep 13 40*4 J ’ly
12 *3Jan : 4! 11*4 J ’ly
66 *e J ’nelOl 42 J ’ne
3 i a, Jan lu 19*4 J ’ly
S3*8 Jan 30 64 J ’ly
9 *8 J an 10
7 J ’ly
32 Feb 6 15*2 J ’ne
98 Jan 14 86 J ’ne
90*a Feb 3; 62 *2J ’ly
05 Feb 2 61l l ie J ’iy
59*4 J'ne in 42 J'ne
17**8 J’ue'23 113 7a Feu
21 '4 Jan 20 io Apt
8U*», F ebio! 05 '«i J’ ly
8-*6 Jan i7i
0 Si Jan
61 j ’ne 8: 33 Oct
HD^Jan o| 79
U ALTLM DU E
Chas Hy G * Et os ’99 M -s
Chari C * A 2d 7 s’ 10 A-O
City & Sub 1st 5 s ..’22 J-D
C it y * S u b lW a s)la l5s’48
C o a l* 1 Hy 1st 5 s ’ 20F-A
C o l* G ru v 1st Os.1910 J -J
Consol Gas 5 s ..1939 J-D
Gen 4 *-s 1951........ A-O
Cons U E & 1’ 4'58 ’35. J -J
F a ir* C lT r iS t 5 s ’ 88.A-0
Ga * Ala 1st con 5s ’46J -J
Ga Car * .N 1st 5s g ’29 J-J
Georgia P 1st 6s . . . ”22 J-J
G a S o * Fla 1st 5s 1945J-J
G-B-S Brew 3-is 1951.M-S
2d income 5s 1951 M-N'
Knoxv True 1st 5s ’28A-G
LakeH El 1st gu6s’42M-S
Macon K y * D tlst5 s ’53J-J
Memphis s t 1st 5s’ 45 J.J
MetSt( W ash)l8t6s’25 FA
Mt Ver Cot D uck 1st os.
N p t N * 0 P 1st 5s’3S M-N
N or& P orT r lstS s’ dOJ-D
Nortoik s t 1st 6s ’4 4 ..J-J
N orth Cout 4 *381925 A-O
Series A 5s 1920
J-J
Series B 6s 1926__ J-J
Pitt Un True 5s 1997.J-J
Polo Vai 1st 6s 1941.-J-J
Sav F la * W est o s ’34 A.O
Seab * Hoau 5s 1926. J -J
South Bound 1st 6s ..A O
U El lAfeP 1st 4 *38’29 M-N
Uu B y * El 1st4s ’49 M-S
Income 4s 1949.......J-D
Funding os 1936...J-D
V'a Mid 2d ser 6s ’ ll.M -S
3d senes 6s 1910..M-S
4th ser 3-4-os 1921. M-S
5th series 6s 1920.M-S
V'a (State) 3s new ’32. J -J
Fund deht2-3s 1991. J-J
West N C con Os 1914 J-J
WesVa C&P 1st Gg’ l l J-J
VVU* W eld5s-.1935.J-J
64*3 Deo
90 J ’ly
132 Feb
27 *4Jan
47 Jan
16*3 Deo
28 Jan
60 Jan
53*3 Jan
12*3 Jan
64 *4 Star
34;*s Deo
84*4 Jan
13 „an
2U7» Deo
123 Jan
12 1 *« Mar
693io Mar
63 *4Jan
16*4 Mar
28*3 Jan
86 Feb
9* ia May
5234 Jan
95 *8 Jan
B id [ Ask
1.........
105 10534
102*3 103
102 103
106 108
10S34 109
97**8 97*%
87*4 87*a
100*>4 101
105*^ 10534
10534 100
112 i l l
106*4
42*3 43
5
0
104 105
'9 8 E ■99'*
76
70*i
88
103
109
109
105
110*3
107
106
93
86*,
61*4
89*3
io7 *a
__
.........
112
109 ’
103
94
s6*a
64 *3
89
Exchange 3 “as 1930 J-J
101*2 .............
Ba-ti& P 1 st6 s m i ’ l l A-O
........
........
103 *4 -U3*>4 B S P d iO 1st4 -2S ’53F-A
97
97*2
99 ...... Balt Trao 1st 5 s .. ’29 M-N 107 10 /*2
86
87
No
Balt
D
lv
5s
1942
J-D
109 110
103*3 103**4
86
87
Cent’ l By eou5sl932 M-N
......
79*2 80
104*3 105
107*4
100 1001*
24*3 25*s
100*4 ioo°* Chas City By ls id 3 ’23 J -j 102*3 104
ltl) 112
•Bid and asked; no sales on this day. 1! Ex-dlv. * rights. ||*?15paid. t$12*4pald. f$13*apaid. 3 $35 paid. a Hoceipts. !*?23pauL c$30p ald . d$42*3Daid.
1094
CHICAGO STOCK EXCH\HG 3 --Stock Record—Daily, Weekly and Yearly
STOCKS— IUHE \T AND LOWEST SALE TRICES
Bc.lurday
June 17
♦185
*1
*3
*80
* 2012
*9
*5
4
♦15
40*3
*25],
*7U,
27
*63
*77
. ,8%
*10
190
3
5
85
22
0>4
5%
4
19
40%
25*2
72
27
631?
77%
8%
45
. 'or.da'/
June 19
*185
*1
*3
*S0
*21
*9
*5
*3%
*15
*40
*25%
*71
27*2
*65
*7612
*8%
*40
190
3
5
85
22
91?
6%
4
19
44
26
72
271?
661?
7/1?
9
45
Tm silng
June 20
*185
*1
*3
*80
*21
*0
190
3
5
85
22
9*2
51?
3%
*15
19
*10
44
*25
261?
72
72
*27% 28
661?
*05
♦7612 771?
*8%
9*?
*40
45
♦5
We ntsdaj
June 21
Thundag
June 22
*185
190
Last
3
Last
Last
*3
5
Imsi
85
*80
Last
* 2012 22
9
*0
9*2
Last
6
*5
3% 3% *3%
Last
19
*15
*40
*40*2 44
Last
26%
*25
721? 72%
*72
27% 2/% 27%
68 66
06*2
77
77
77
0
8%
9
45
Last
*40
*1
Range tor Year lo ll
STOCKS
Friday
June 23
Apr’ 11
Sale 190
Sale 1% June’ ll
Sale 3
June’ ll
Sale 80
M ay'll
Sale 25
June’ ll
9
8%
81?
Sale 5% June'if
4
3%
3%
Sale 17
May’ ll
44
*40
44
Sale 27
June’ l l
72% 73
73%
28
G6I2 07% 67%
77
---,.
8% ___
Sale 42
June’ l l
W'ek
S/i re 1
CHICAGO STOCK
E XC H AN G E
Lowcs1
Railroads
Chicago City K y_____ 100
Chicago & Oak P ark. 100
Do
pref__________ 100
Ctilc Rys part ctt " 1 ” ___
Chic Rys part ctt " 2 " ___
27 Chic R ys part ctt “ 3” ___
Chic Rys part ctt “ 4” ___
185 Chicago Subw ay_____ 100
Kans City R y & L t._1 0 0
10 Do pref___________ 100
Metropol VV S E lev___ 100
Do
prct__________ 100
826
365 Northwestern E lev___ 100
606
Do
pref__________100
108
130
....
Do pref___________ 100
185 ,Jnn II 190 Apr 2
lt 2 J'ne 10
U2 J ’ne K
3 J ’ne 6
0 Men 23
80 A or 29 93 Jan 21
20-3.1 May 13 2514 Feb
8 Mayl3
10 Jan
4% Men 1
0I4 \Uv 17
3% Feb 2
ti Mch i
17 May27
25 Feb 23
40 J ’ne 13 72*2 Feb 25
19% Feb 1 26 May 26
65 Feb 1 73I4 J’n e 23
20% Apr 27
28 .
GO Jan 11 6/ 1? J ’n e 23
6.8 Jan 9 773, M ay l6
Si2 J ’ne 1 1314 Feb
40 J'ne 1 50 Jan
Aliscellaneous
0 Jan lti
Do pref___________ 100 76% Jan 7
merlcan R a d ia to r.. 100 265 Jan 9
Do pref___________ 100 12612 Mch 9
20 mer Shipbuilding___ 100 65 May20
112% May’ ll
Do pref___________ 100 110% Jan 6
148% 1481?
140
141% Jan 7
38
38
190
35 Apr 28
Voting trust ctt.
38 J ’ne 14
62
*62
62
62
62
67
*60
70
*62
70
62
'62
90
Do pref______ _
62 J ’ne 20
50
60
Last Sale 51
*48
50 * *48
May’ ll ___
4y«2 Apr 24
1% *1
1% *1
*1
Last Sale 1% June’ 11 ___
1%
1*4 *1
l's Mch 29
*5
6*? *5
6*? *5
51?
Last Sale 534 June’ ll
6*? *5
Do pref.
312 Mch 27
61% 52
5U 2 51*?, 51% 51% 51% 61% 51% 51% 51
52
430
41 Jan 3
♦123 124 *123 121
121 124
124 121 *123 12-1
124% 1211.,
320 Chicago Telephone___100 115 Jan 25
♦165 169 *163 109 *163 169 *163 16,3
Last Sale 168 June’ l l
125 Chic Title & Trust___100 15D2 Jan 6
128-34 129
129 129 *129 129-% *129 129% 129 129
128% 128%
382
113 Jan 19
Do rights____________
___ *14% 15% 15
15% 15% ___
15% 15*4
15
95 orn Prod R ef Co co m ___
13-3.1 Jan 11
78
Jan'll
Do
do
pref____
78 Jan 18
100% 10034 101 101
102
103
101 10H? *101 102 *101 102
165 Diamond Match_____ 100
921? Feb 10
10212 10234 *102 102% 102I.t 102% 102% 102*4 101% 102% 101% 101%
500 Hivrt Bluff ner & Marx pf. 1013^ J ’ne22
59% 60% 59% 60
59% 61
GO
60% 59% 60*2 58% 60 .3,250 Illinois Brick________ loo
68-34 J ’ne23
50
May’ l l
Masonic T em p le______
47 Jan 18
202 McCrum-Howell C o .. 166 45 Mch 3
60
*50
51
*50
60
50
6012 50% 50*2 50% 50
95% 95% 96
Do pref______________
*95
295
90
95*2 95*2 95% 9534
92 Mch 3
90
90
Mllw & Chic Brewing____
2% June’07
Do pref______________
20
Nov’09
♦135 137 *136 138 *135 137 *136 138
1171., Jan 17
Last Sale 136 May’ l l
__
♦127% 129 *128 129 *127 129 *123 129
Do p ref.
____ 100 123 Jan 3
I.au Sale 128 June’ 11
♦114 118 *114 118 *115 118 *111 118
auonai uaiu on _____ 100 114 Apr 27
Last Sale 120 June’ l l
♦116 HS12 *115 118
118 113 *110 118 >116 118 *116
118
10 Do pref___________ 100 118 Jan 18
106*4 100*4 *106 107
106% 106% 100% 100*8 10578 106
106
100
330 eoplc’s Gas L&Coke.lOO 1031g Apr 8
Do rights........... ..........
142 142% 140*2 142% 110% 141% 141*2 142
Ma> 26
140% 141*2
2~,355
119*2 120 *119 11912 *119 120 *110 1191? *119 119% *119
72
Do pref___________ 100 119 Jan 11
110*2
101-34 102
1017S 102
__ _
___
101*4 102
101% 102
781
101% 102
100% Mch 13
Do rights____________
1 Feb 3
♦186 1S9 *180 188
186 180 *187 189
189 190
235'The Quaker Oats C o .. 100 165 Mch 7
189% 1891?
♦100 10G12 *106 10612 *106 10612 106*2 10G12 *106 106*? *106
Do pref___________ 100 102*2 Feb 1
106%
10
*3 *2 3% *3*2 3*^4 *3% 3%
312 31? *3% 3%
70
3 May 10
3%
3%
78% 78% 79
79% 73% 79
78*4 1,375
72U Jan 3
78*2 78% 77*4 77% 78
*19
20
*19
20
*19
20
*19
20
Last Sale 19% May’ l l
19*2 Apr 12
Note —Of flclal sheet n o longer tcd orts transac tlons of less than 10 shar cs.
ills
8534
♦265
♦127
*33
♦111
151-3S
*37
11%
85-34
*235
*127
*65
11%
85%
11% 11%
80
80
*265
*127 129
68
08
11%
85%
Sale
129
Sale
129
129
70
70
70
68*2 63%
112*2 *110 112 *110 112 *110 112
Last Sale
151% *151% 152% 149*2 149*2 148*4 148% *148 149
40
38*? 3S%
40
*37
40
3812 38*2 *38
11*8
8o%
11%
86
11*8
85-34
*265
*127
*08
11%
85%
Last
Last
10% 11
851? 85%
265
Feb' 11
129 Apr’ ll
665
50
Chicago Bond Record
1
BONDS
CHICAGO STOCK
E XCH AN G E
Week ending June 23
Inter
est
Period
Price
Friday
June 2.1
Week's
Range or
Last Sale
Uan/e err Previous Year
(1910)
12*2 May 9
88% J ne 2
265 Jan 9
130 Jan 14
7) Feb
113 May 1
152i4 J ’no 12
6JI4 Men
573, Men
82 Mch 21
62 Feb 2
1*4 J no 7
534 J ’ne 9
55 Feb 13
124I4 J ’ne 23
170 J ’ne 9
I3u% Mch 15
160
Highest
Get
1*2 J’ly
4 JTy
60% Sep
1 H4 Set)
8 ,\ta\
;i \ia%
2*8 J ’ne
20 Aug
69 Feb
16
HI
51 Feb
15 Apr
63 May
.5% JTy
J ’ly
40 JTy
185 Mch
3% Jan
7% Jan
100 Jail
30 Jan
16 Jan
9% Jan
6*4 Aug
39 Jan
77% Mch
25 J ne
72 J ’ne
23 J ne
66 J no
72*2 J ne
54% Jan
104 Jan
6% J'no
621? J ’ lv
240 Apr
126 J ’ly
12 f- ei>
lo7 Aug
131% JTy
3 L J'no
29 Aug
66 J'ne
46 Dee
1 Feb
3 Sep
26*2 J'lV
111) dll'.
142 Aug
103*2 JTy
1% ,.a 1
1312J ’ly
79% Apr
62% Sep
13% Jan
12 Jan
261 Dec
135 Apr
84*8 May
112 Jan
142% Mch
43 Dec
41 Dec
74 Jan
.’ 5 Feb
1 Feb
3 Sep
47 Dec
137 Jan
163 Mch
12112 Jan
2 Jan
22% Jan
82 Feb
127 Jan
15% J ’ne 15
7s Jan 1
103 J uo 23
1033s J no 2
70 Jan 20
65 JTy
60 May 19 . 43% Men
67 Jan
40 Mch
98 Feb
93 J'ne
91 Mch
46 Jan
67*? Dec
102^4 Apr
140 Apr 7
130 Mch 31
120 Mch 14
120 Mch 23
108=3 Jan 19
101
118
104
112
103
Aug
,i’ly
Feu
Feb
JTy
119 Dec
125 Jan
145 Oct
123 N ov
115% Jan
19234 Jan 31
148 Feb
HO*? Aug
10J Dec
18634 N ov
122 Mcli
109% Jan
155
101
186 Feb
106 Jan
1538 Jan
122 Mch 11
104 J no 5
10 Jan 16
190 J ’no 22
IO6I2 May29
7 Jan 3
81% Fob 6
25 Jan 27
JTy
JTy
5*4 Apr
15
J ’ne|
263sDec
Chicago Banks and Trust Companies
E'di
Sold
Rang1
for
Year 1911
Eli
High
Ask Dote
High No. Low
Amor Strawb’d 1st 6 s .1911 F - A
100% Jan’ l l
100% 100*2
Armour & Co 411s ___1933 1 D
93 May’ l l
92-3s 933?
Booth Fish Co D ebG 5s’ l7 J - J -- .
100
Moll’ ll
90*s 160
■ Deb g 5s__________1924 J - J
90 100
100 MchTl
Sink Fd Deb 63 tr r e c . . A - O
98*2 Apr’ l l
98*s 99
___ 102 J’ue’UJ
A
Cal & So Cli tty 1st 5 s .'2 / f
Oass Av & F G (St L) 5s T 2 j - j
IOD4 Oct’09
Ohio Board of Trade 4sl927 J - D
May’07
too
Chloago City Ry 5s___1927 F - A 102% Sale 102%
10234
5 102*8 102%
Chic consoi Br & Mlt Os___ J - J
Apr’04
103
I
D
Ohio Consol Trac 4 14s 1939
Apr’09
50
Chic Auditorium Ist5sl923 F - A —
93% Jan’00 —
—
—
....
94% Dec’09
Ohio Jc RIt 1st U g 63.1943 M - 3
87
Feb’06 . . . .
Ohio No Shore Eleo 63.1912 A - O
—
Chic Pno Tool 1st 53.al921 i - J { ' 96'
89 Juno’11
‘ §7% 91* *
99%
0738 100
99% 32
Chic Ry 5s.................... 1927 F • A 99% Sale
___
U8I4 May’ ll ___
Chic ttys 4-5s series " A ” A - 0
93*8 94%
10 82*3 88%
Ohio ttys 4-5s series " B ” J - D { 87% Sale
87
87%
__
90% Mcn’ lo
Ohio ttys 4-5s series ” C” F - A
i
Ohio Rys coll 6s___1913 F - A 1100% 101% 100%
99% 10078
100%
Chic ttys fu n d Gs._1913 F - A —
106
100 100
—
Jan’ ll —
' Ohio Rys Tem Otfs 1st 5s
99% May’ l l
97% 99%
Ohio R I & P RR 43..20 0 2 M - N
66*2 Aug’03
_
Collat trust g 5s___1914 \l - S
66*2 July’OS
_
_
_
Chlo Telephone 5s____ 1923 j - 1) { - - - - 103% 103 Jnne’ l l
102 1031?
Commonw-Edison 5s. 1943 n - s 102% Stic 102%
102*4 lo 100% 102%
. Ohio Edison deb 63.1913 j - j - - - 10l)7s Nov’ KJ
_
_
_
1st g 5s____ July 1926 /V - 0
100 Feb’11
100 100
Dobenture 5s____ 1920 -1 - s __ _ ___ 100% Aug’09
Commonw Elect 5s0lfM3 A - s 1101%
10034 10 a4
101% June’ l l
Dla Match Con db 8s . . 1920
1106% SUa
106%
30 103% 107
107
Illinois funnel 3s____ 1928 j - D —
bu
—
Dcc’OS —
—
—
Kan City Ry & Light
Co 6s .........................1913 U - N
97% May’ l l . . . .
98% 97%
—
A - O t io i*
100 May’ l l
07% IOO
82
Lake St El— 1st 5s___1928 j . j
3
77
82
82
82
Incom e 5s_________102 j Feb
16 May’03 —
—
....
....
Metr VV Side El—
9
1st 4 s .......................1938 F - A { 85% 85% 85*2
85%
82*s 85%
Extension g «s____ 1938 J - J { 82% 82-% 82% June’ l l . . . .
78*« 82%
9J34 1%
MorrlJ & Co. *- H____ 1939 J - J t ------ 91% 91 June’ 11 . . . .
North West El 1st 4s . 1011 A - S { 99% 9978 9978 June’ l l . . . .
96*8 100
N o VV G-L & Cone Co 5s 23 Q - M
99*2 M-iy’ H ___
99*2 100
Ogden Gas 5s_______ 1945 A - N { 92
92
94%
94% 92 J’ no’ 11 . . . .
__ _
Pearsons- fa ft 5s_____ 191 * J - D 98%
100% Mcn’06 ___
4.40s . .
vl - S 95
98% Mch’ 10 ___
4.60s Series E___
M - N 96
Feb’ 10 __ _
97
4.80s Series F
M - N 97%
....
98*2 Mch’ 10 ___
Poo Gas L & C 1st 6s. 1943 A - O
121% May’OJ - . . .
1 101% 1023*
Refunding g 5s ____t »47 M - 3 { 102% 102% 1023s
102%
i ■ Chlo Uas L&C 1st 5s 1937 J - J 1102%
102 3 103*?
103 June’ l 1 . . . .
Cousum Gas 1st 3s 1936 J - D 1101% 101% 10158 May’ l l ___
1011- I0l3g
Mut’ l Fuel Gas Ist 5s l 947 U - N
101% 101
101% May’ ll
South Side Elev 4 H s .l s i t J - J t 95% Sale
10
63
*5%
95%
9538
Swift & Co 1st g 5s__ 1914 .1 - J t i o o %
100 161%
100 2 May’ l l
-Union 121 (Loopi 5 s ..1944 A • t) . . . . . . . .
Apr’ ll) —
S3
—
United Box Hoard ool rt- 20
Apr’ 10
General mtgc 6 s ____
.1 - 1
Mch’ 11
60
55
60
Western Eleo 'o 3 «...1 9 2 2 J - J {1 0 2 102% 101% Apr’ ll ___
10034 101%
N ote..— Accaued Interest must be ad edto a 11 Chlcaco b onil price >
NAM E
Outstand
ing
Stock
T
Surplus
and
Profits
r
Dividend Record
In
1903
In
Per
1910 iod.
Last Paid
%
$100,000 V$ 15,838
Calumet N ational_____
0
0 An Jan '11, 6
Chicago C ity___________
500,000
271,322
10
10 j -j Jan ’ 11,5
__
Conti’ tal & Comm N at. 20,000,000 10,285,337 ___
Q-J Apr ’ l l , 212
Corn Exchange National 3,000,000 5,696,273
12
10 Q-J July ’ l l , 4
Drexel State___________
200,000
4 1.198
9
8
Q-J inly ’ l l , 1%
Drovers’ Dep National.
600,000
443,233
10
10
Q-J inly ’ l l , 2%
Englewood State______
200,000
51,046
6
0
Q-J Apr ’ ll, 1*2
First N ational________ 10, 000.000 11,276,430
12s
12s Q-M Mch31’ 11,3u
First Nat E n glew ood ..
150,000 1/187,559
10
10 Q-M Mch31’ 11,212
Foreman Bros B ’ k’ g C o. 1,000,000
563,476
Prlv ate Ba nk
Fort Dearborn National 2,000,000
616,188
8
8
Q-J Apr '11, 2
Hibernian B’ k’g A s s 'n .. 1,500,000 1,053,878
8
8 +2 Q-J July ’ l l , 2
Kaspar State Bank____
200,000
193,557
10
10+15 J-J July ’ l l , 5
La Salle St N ational__ 1,000,000
257,031 Beg. b us. Ma y ’ 10 V.90, p.i277
Live Stock E xch’ge Nat 1,250,000
516,108
10
10 Q-M Mch31’ ll,212
Monroe National___
300,000
66,841
4
4
Q-F May ’ l l , 1
Nat Bank of R e p u b lic.. 2,000,000 1,313,977
8
8
Q-J Jne30’ l l . 2
National C ity_______
2,000,000
494,341
0
6
Q-J Mch '11, 11?
National P ro d u ce _____
250,000
90,390
3
4
Q-J oily ’ l l . Hi
North Avenue State___
200,000
74,833
0 ’A Q-J July ’ l l , 1%
North Side State Sav’gs
50,000
34,29 1
6
6
Q-J July ’ ll, 11?
North W est S ta te ...
200,000
30,403
4
Q-J July ’ l l , 1%
People’s Stk Yds State.
300,000
115,137
7
Q-J July ’ l l , 2%
Prairie State________
500,000
62,711
6
6 Q-M July ’ l l , 1*2
S e c u r it y ------------------300,000 Z207.494
415 Q-J Apr ’ l l , 1%
U5
South Chicago Savings.
200,000
94,500
0
715 Q-J July ’ l l , 2
South Side State______
12,782
200,000
6
Q-J July ’ l l , 1%
m
State Bank of Chicago. 1,500,000 1,905,670
12
12
Q-J July ’ l l , 3
Stock Yards Savings___
196,488
250,000
8
8 Q-M Moh31’ l l , 2
49,854
Union Bank of Chicago.
200,000
0
0 M-N May ’ l l , 3
W ashington Park N at’l
8,494 Sec V. 90. p. 159
100,000
Wendell State_________
50,000
zll,015 None None Q-M l)ec31’08.D2
977,674
Central Trust Co of 111.. 2,000,000
7
7M Q-J Apr ’ l l , 2
Chicago Sav Bk & T r_ 1.000,000
0
224,478
6
Q-J iuly ’ l l , 1%
0
Chicago Title & T r u s t .. 5,000,000 t 1,846,670
7M Q-J June30'll, 2
Citizens Trust & Savings
4
0
50,000
12,104
Q-J Apr '11,2%
475.687 8 +2
8 +2 Q-J July ’ l l , 212
Colonial Trust & Saving
600,000
Cont & Comm Tr & Sav 3,000,000
734,546 ___
140,926
8
8
Drovers’Trust&Savlngs
200.000
Q-J July ’ l l , 2
3
6
Far well Trust C o______ 1,500.000 5234.190
Q-J J ily ’ l l , 112
16
First Trust & S a v in gs.. 2.600,000 3.618.690
12 Q-M Mch .31'11,4
Ft.Dearborn Tr&Sav Bk
250,000
3.057 Beg. b us. Apr 3’ 11 V. 92, p. 929
Guarantee Trust & S av .
200,000
Z28.0U Incorp orated 1908 V.87,p.1138
Harris Trust & Savings. r 1,250,000 1,918,434
9 « 11+5 Q-J July ’ l l , 3
Illinois Trust & Savings 5,000,000 8.850,823 10+4 10+4
Q May 2 0 ’ 11,1
Kenwood Trust & Savgs
62,030
200,000
0% 7 + 1M Q-J July ’ l l , 1%
Lake View Trust&Savgs
49.680
200.000
5
515 Q-J Apr ’ l l , 1%
Merchants’ Loan&Tr Co 3,000,000 6,273,210
12
12
Q-J July ’ 11,4
Metro poll tanTrust&Sav
248,857
6
750,000
6
Q-J Jne30’ ll,l%
Michigan A ve Tr C o___
60,057 Beg. b us. Oct 29'1 0V91,p.1221
200,000
M id-city Tr & Sav B k.
68,372 Com. b us. Ap rlO ’ 11V92 plOO t
500,000
Northern Trust C o____ 1,500,000 2,507,081
8
8
Q-J Jne30 ’ l l , 2
North-W estern Tr&Sav X200.000
<)
77,298
6
J-J Jan ’ 11,4
People’s Tr & Sav B k ..
500,000
137,535 Beg. b us. Dec 1 ’ 10 V. 92, p. 96
Pullman Trust & Savgs.
300,000 tl>227,991
8
Q-J Iune30’ l l , 2
8
Sheridan Tr <Ss Sav Bank
200,000
Z20.973 Beg. 1) us. JTy 12’0 9 V.89,p.141
Standard Tr & Savings. 1,000,000
284,858 Comm enced bus. Sept 6 1910
Stockm en’s Trust & Sav
200,000
Z30.984
5
515 J-J July '10. 3
Union Trust C o........... .. 1,200.000 1,229,389 18+ 2 *8+2 Q-M J ne 30’ li,2
W est'n Trust & Savings 1,250,000
6
6
203,658
Q-J Apr ’ l l , 1%
6 Q-M Mch31’ l l , 2
West Side Tr&Sav Bank
112,071 ____
200,000
Woodlawn Tr&Sav Ban <
69,161
0
200,000
715 Q-J July ’ l l , 2J2
• Bid and asked prices: no sales were made on this day. TJune 7 (close of business) for national banks and June 8 (opening of business) for State Institutions, 1 No
price Friday; latest price this week, a Due Dec. 31. b Due June, c Ex-stock dividend of 33 1-3%. k Also 20% In stock, q Dividends are paid Q-J, with extr
extra payments Q-F. r Capital to he Increased to $1,500,000. V. 92, p, 1011, s In addition, the equivalent of 4% more came from First Trust & Savings Bank, l1June
,
1
-1911. u In addition, the equivalent of 1% came from First Trust & Savings Bank, vSee V. 92, p. 1004; V. 90. p. 652. w March 31 1911. x Proposal to Increase
capital to 5250.000 ratified. V. 92. p. 1352. y March 7 1911. 2 March 8 1911. 5May 31 1911.
June i!4 1911.1
THE CHRONICLE
1695
Bid
eago
Bid. AS*
Industrial and AYiscei
13
13*4
e Crucime steel_______ 100
82
82*4
e Preferred..................100
124 126
*1
Davls-Daly Copper C o...1 0
1*8
TUA.MWUll J-t i vt ra «! -(E*V YORK H'TOOK EXCHANGE
*£83 - 88
e Diamond Match >0. . 100 103 1031j
.) \II.Y. .VECKLY AND YEARLY.
63
50
duPont (E I) <le Nem Po 100 160 105
74
77
99,
e Preferred__
100 94
__
92
87
85
e Gold 4Hs IU36....J-I>
stocks
Railroad.
7-*4 79*o Electric Boat........
100 10 " i 6
State
Jkc..
U. S.
YVeek end'nj
84
34*2
Preferred . . __
100 40
50
S ara. . , Car value.
Bonds.
Bonds.
Bonds.
June 23 lu ll.
62
64
Empire Steel............
100 10
15
_____
Preferred...... ............. 100 4<
55
173,041 $15,584,100 $1,429,000
$177,000
Saturday....................
e General Chemical........ 100 132 136
_____
270,027 22,772,700
203,000
2,307.000
Monday-----------------82
78
e Preferred.................. 100 106 110
______
240,978 22,077,800
3,004,500
173,006
Tuesday......................
119 120*2 Gold Hill Copper.............. 1
..........
**>
*3
17,404.100
193.100
2,184,500
194,000
Wednesday--- --------___ Grecne-Cananea_______ 20
105
*8*4
87*
472,535 42.673,000
2,335,000
243,000 $93,000
Thursday---------------t-5
75
Guggenheim Explor’n .. 100 200 205
60.000
19,497,000
209,745
327,000
1,663,500
Friday______ _____
45
40
e Hackensack Water Co—
83
110 115
Ref g 4s ’52 op 1912 ..J-J
87 lj
T o ta l...................... 1,506,092 $140,008,000 $13,043.600> $1,317,000 $153,000
111 115
8
12
Hall Signal Co com........ 100
4
65
75
Havana Tobacco Co___ 100
6*3
Week
ending
June
23.
Jan. 1 to June 23.
Sales at
90
11
12
98
Preferred.................1 0 0
New York stock
90
95
62
1st g 5s Juno 1 1922 J-D / to
lalo.
lull
1911.
1910.
SxduiwiMecker-Jones-Jeweli Milling
101 104
1st 6s 1922.............. Al-S
Ferry Companies
1.500,6921
2.227.773
93.505.181
62.121.9541
Stocks—No. shares—
92
98
25
Hernng-Haii-Mar new.. 100 15
Par value'................$140,668.00(5 3196.744.550 J4,623,005,650 58,413,781,675
___ ____ Hoboltfm Land A Im p.. 100 . . . . . . .
*3,100:
*137,100
*605,000
51,207,600,
Bank shares, par____
53
53
103 105
1st 5s Nov 1030___
Hands.
'9
7
9912 Houston Oil.......... ......... 100
7*4
5153.000
50,000;
5306,5001
*236,000
Government bonds__
1053, I0r»*2
661* 67
Preferred....................100
1.317.000
776,500
67,419,000
26,644.200
Btato bonds................
99
97
Hudson Realty________100 ____ __ _
13,043,500
8,464.0001
.
..
379,084,5001
330,778.000
Bit. nnd mlsc. bowls..
35
25
no
* Ingersoll-Rand com ...100
60
65
e Preferred____ _____ 100 100 __ _
Total bonds............ 1 *14.513,500i *9,246,500____$440,810,000i_ $357,658,200
27
25
Intercontinental Rubber 100 2012 27
98 160
Internat’l Banking C o .. 100 ___ 95
DAILY TilANdAOl'lONd Al' TUB BOSTON AND PHILADELPHIA
International Nickel___ 100 240 -• - —
EXCHANGES.
Preferred.................1 0 0 101 102
Short-Term Notes
0S12 99*3
loo** 1003g
1st g 5s 1932..............A-0
A nal Cop 5s Apr 1 191
6
8
Boston.
International Salt.......... 100
Philadelphia.
American cigar—
53
; 997g 100
Week mdiny
1st g 5s 1951............ A-O / 48
Listed Unlisted | Bond
1 10014 100*8 International Silver___ 100 80 110
Listed
Unlisted 1 Bona
June 23 1911.
share <. share.. | sales.
shares.
shares. | sales.
! 100*s 101
Preferred .............. . .100 113 115
1 9918 99*8
1st 6s 1948........ .
J-D 111 112
$31,000
; 9.1*2 99*4 internat Smelt A Refg.,100 121 129
Holiday
2,760
3,042
Saturday___________
i9
9914 Internat Time Record..100 250 3U0
29,500
17,502
6,154
4,328
Monday____________ 18,764
$71,000
100*4 101
86,400
3,020
9,327
35,000
5,332
Preferred............
100 115 120
Tuesday.................... 19,815
93,100
1,365
4,959
88,500
8,187
Jones A Laughlln Steel Co
tudson Companies—
Wednesday................ 15,818
12,012
105,916
1 10012 101
1st s f g 5s 1939........ M-N 102 103
9,102
6s Uct 15 1911____
8,330
44,000
Thursday.................. 22,585
40
45
3,730
122,900
0S-; 90
6,100
0s Feb 1 1913........
4,689
71,000
e Lackawanna Steel___ 100
Friday........................ 12,791
98
98*s
e 1st con 5s 1950___ Al-S ___ 87
941*
; 92*c Deb 5s 1915 . . M-S 94
44,807 $309,500
36,917
27,215 $468,810
Total .................... 89,763
. 95*4 95*4 Lanston Monotype____ 100 £94*4 95
99*8 09*8 Lawyers’ Mtge Co.......... 100 270 275
0 u t s .d e
S e c u r it ie s
50
1 9, *4 98*4 Leh & VVIIkea-B Coal.
, 98
0s*2 e Lorlllard (F) p re L .IIIio o 140 150
55
65
1*4*2% 4*4% Madison Sq Garden____ 100
AU bond Drices are now "and interest'' except where marked ' t.’
95
64*2% 4*4%
4 Us Jan 1912-1025.
2d Cs 1919................M-N
1 100*8 I0O14 Manhattan Transit........ .20
*27s “ i
81
Sfreef Railways
! 109*2 101
80
Street Kail ways
« May Dept Stores........ 100
... . .
e Preferred................ 100 U.*4 113*4
Pub Serv Corp N J (Con)—
1 100*8 101
New York City
e.Yllaml Copper— N«’ Stock i-.xch list
New’k Pas Ry 5s ‘3 0 ..J-J 107*2
21
100 100*4 Monongahela R Coal........ 50 *10
Bleeck St & Ful Fy stk. 100 15
lOSj
Rapid Tran St Uy----- 100 23 J
05
; 99
U9*g
1st mtgc 4s 1930...........J-J 55
Preferred _■....................50 *32*8 33
1st r,i 1921............ A-U 102
B’y * 7th Ave stk........... 100 1L0 132
98*4 09*8 Mortgage Bond Co........ 100 112 115
J C Hob A Paterson2d mtge 63 1914...........J-J 90 101
. 100*4 1003s Nat Bank of Cuba.......... 100 £104 106
43 g 1919...............M-N, 70*4 77*4
Con 5i .i —See Stock (Me 1st
101*8 102 1e National Surety.......... 100 240 24712
So J Gas El A Trac__ 100 134 1.8
B’way Surface 1st 5s gu 1921 10U2 103
96
97
Nev-Utah Min A Sm____ 10 *u ie
*4
98*2 99*2
90
Clu « 53 1053........ 51-S
Cent’l Crosstown Stock.. 100
30
100*2 100'x s New Central Coal..........20
60
85
1st mtgc 6s 1922----- M-N / 80
No Ilud Co Ry 03 1914 J-J 101
1 101*8 10134 N Y Air Brake 6s—See Stock Exo fist
___
lu2
20
63 1928................ ..J-J
Con Pk N * E Itlv stock. 100 10
, 94
25
97*4 s New York Dock.......... 100
Christoph’l A lOthStstk 100 100 115
Ext 6s 1924...........M-N 95
e Preferred ................ 100
66
Col A 9th Avo 5s—See Stock Exc Hat
Pat Ry con 6s 1931..J-D 114
N Y Mtgc A Security__ 100 2*17*" 220
Railroad
Dry Dock K B & B—
2d 63 opt 1914____A-0 101*2 103
*3
N Y Transportation........ 20
5
Chic Peor A St L—
1st gold 5s 1932.......... J-D C8*2 toi
So Side El (Chic)—Nee Cli tcago list
98
i / ____ -m - - Nlles-Bcm-Pond com ...100
90
40
Syracuse B T 5s 1916 ,.61-S 101 103
Sorlp 53 1914.............. F-A / 30
- - Nipls3ln? M ines............... 5 *10*8 10:3
1J-----97 too
Trent P A H 5s 1943...J-D
Eighth Avenue stock__ 100 250 310
Ohio Copner Co
____ 10 * l l l ie
1*4
Income 5s. July 1930.
Scrip 63 1914............ P-A / u.-> IfH)
United Hys of St L—
)
3*2 4
Ontario Power Co—
Com vot tr ctfs...........100
100 103
42d A Gr St F’y stock.. 100 200 225
9*4 10
1st g 5s 1943 o p t____F-A 96Q 98*3
39
e Preferred.................100 38
1 *30
35
42d St M A St N Ave__ 100
l*r 2*4
e Ontario Sliver..............100
00
1 *04
Gen 4s 1934—See Stdck Exc list
2d lncoma Gs 1915__ J-J t 40
70
72
75
Otis Elevator com_____ 100
Inter-Met—See Stock Kxcb ange list
Unit Bys San Fran—See Stk Exc list
s Railroad Securities Co—
Preferred....................100 103 105
Lex Av & Pav F 6s—See Stk Exc list
39*2 40
Wash Iiy A El Co.......... 100
Pittsburgh Rrpivlng
50 *197. 20
111 C stk tr ctfs ser A__ 6 1 88
Motropol St B y—See Stk ExS list
8912 Seaboard Company—
Preferred.....................100 88
Preferred....................50
*42*2 43U
Ninth Avenue stock___ 100 150 175
43 1051........................J-D
88
84*4 85
1 87
e Pittsburgh Steel pref. .100 105 10.*4
13
0
Second Avenue sto ck ... 100
1 t Exc list Pope Mfg Co com.......... 100
63
56
48
Consol 5s 1918........ - _F-A f 44
Gas Securities
i 92l2 93
75
Preferred....................100
77
« Sixth Avenue stock__ 100 121 '28
Pratt A Whitney pref..100 1021* 105
7j
New York
65
Sou Boulev 5s 1945----- J-J
90 110
Producers Oil____ _____ 100
Industrial and illiscel
02
80
Cent
Un
Gas
5s
1927___
J-J
103
So For 1st 53 1919..........A-U
101*4
1/ 87?g 881* cRay Consol Copper—See S IK Ex list
Con Gas (N Y )—Nee Stock Exc list
Third Avenue lUt—See Stk Exc list
i *165 *170 Realty Assoc (Bklyn)__ 100 112 114
80 e Mutual Gas................. 100 177 185
Tarry \V P & M 53 1928.. 7 61
) 125 130
Royal Bak Powd com__ 100i 190 195
80
New
Amsterdam
Gas—
80
Y ’kcra St BR 6s 1916 A-O
) 163 167
Preferred....................100 £106*2 103
22
1st consol Hi 1948___ J-J 102 103
aSth & 29th St3 5s ’96..A -0 f 15
1 121 126
Safety Car Heat A Lt__ 100 £119 121
N Y A E It Gas 1st 5s ’44 J-J 104*2 1001;
Twenty-third St stock.. 100 190 215
49
) 260 205
Seneca Mining..______ 26 * .
100
102*2
Consol 5s 1045______ J-J
Union Ry 1st 5s 1 9 1 2 ...F-A 101*4 101
j 105 108
Singer Mfg Co................100 280 290
50
76
N Y A Richmond Gas.. 100 40
Wostohestcr 1st 53 ’43 J-J 05
2
10
5
)
5
South Iron A S com___ 100
Nor Un 1st 5s 1927___ M-N 100 102
6
30
10
) 25
Preferred.......... ......... 100
70
Brooklyn.
e Standard Gas com___100
J 13112 133
Standard Cordage.......... 100
*4
e Trefe-red .................100 95
Atlan Avenue HR—
> 100 iun2
18
1st M g 5s ‘31 red.. .A-O / h "
1st 5s 1930................ M-N 104
Con 5s g 1931.............A-0 101I2
) 95 100
8
Adjust Al 5s Apr 1 1931.. / 1
98
B B & YV E 53 1933------A-0
5 tk Ex list
45
Standard Coupler com .. 100 42
OUxer Cities.
Brooklyn City Stock........ 10 105
) 102*2 10312
Preferred __________ 100 105 116
Con Hi—See Stock Excli tuge
5012
Am Gas A Elec com........ 50 *55
1 68
70
eStandard Milling C o ... 100 16*2 17
Dklyn Ilgts 1st 5s 1041 A-O 98
Preferred.................. -.50 *£42'2 44
) 280 285
64
e Preferred..................100
52
Uklyn Queens Co & Sub—
Amcr Light A Tract___ 100 296 298
elst 5s 1930.............. M-N
87 __ mm
j *4*4 5*4
98
e 1st g 5s ’41 op 1910 .J-J
Preferred.....................100 108 107
Standard Oil of N J........ 100 640 650
) 396 399
a 1st con 5s '41 op T6 M-N 97
Bay State Gas.................. 50
**8
55
07
*2
) 52
Studebaker Corp com ..100
67*4
Bklyn Rap Tran—See Stock Exc
Blngh’ton (N Y) Gas YVks
) 103 102
Preferred ....................loo 107 107*2
£0
Coney 1st & Bklyn____ 100
1st g 5s 1038...............A-O 95
99
; 99 tuo
Sulzberger A Sons c o p t.1 0 . £100 100*2
78
1st cons g 4s 1048___ J-J
Brooklyn Un Gas—Nee Stk Exc list
)
1*2 2*4 Swift A Co—See Boston Stk Exc list
3
Con g 4s 1955.............. JQ 75
Buffalo City Gas stock..100
6
: ch’ge list
1st 5s. See Chicago Stk EXC list
Brk C & N 5s 1 939...J-J 93
1st 5* 1947—See Stock Exc list
1 90*2 91
Texas Company—See Stock F.xc list
Cities Service Co.............100 67U 09
Kings Co El 43—Sec Stock Exc
11
) 10
e Texas A Pacific Coal.. 100 98 102
Preferred.....................100 7712 79
Nassau Elce pref............ 100
22
) 20
Title Ins Co of N Y .....1 0 0 125 135
Con Gas of N J 6s 1936 .J-J
92
> 5s 1944...................... A-O 103
97
1 70
71
Tonopsh Alin (Nevada)__ 1 *57g 6
Consumers’ L I U Pow—
1st 4s 1951—See Stock Exc
) n20
25
4
Trenton Potteries co m .. 100
8
Ss 1938...................... J-D 100
N YV’b’g A Flat 1st ex 4J4s 92
: nSO 90
Preferred new ______ 100
55
60
Steinway 1st 6s 192 2 ...J-J 103
Denver Gas A Elec........ 100 195 210
) ----- 115
Trow Directory............ .100
35
25
Gen g 5s 1949 op___ M-N
3 124 120
93*2 94>2
eUnderw’d Typewriter—Set StkiE x Hat
Ollier CUles
Elisabeth Gas Lt Co___ 100 309
3 250 255
Union Typewriter com ..luu
43
4312
Buffalo Street Uy—
Essex A Hudson Gas...100 140 145
3 124*2 12..12
1st. preferred........ ...1 0 0 108 113
1st consol 6s 1931___ F-A 104 105*2 Gas A El Bergen Co----- 100 83
84
0 £406*2 108*2
2d preferred................ 1011 103 105
Deb 63 1917...............A-O 10312 105
e Gr Itap 1st 6s 1915 — F-A 99 101
*50
62
E *5
6*4 United Bk Note Corp__ 5(1
80 s83
Columbus (O) St R y___ 100
Hudson Co Gas........ — 100 13/ 140
5 *10
19*2
Preferred.................... 6(1 *52*2 54
Preferred.....................100 0912 100*2 Indiana Lighting Co----- 100
67
33
1) ' 2*2 3
35
6812
United Cigar Mfrs..........100
Colurn Ry con 5s—See Phi la ii«i
4s 1953 op.................. F-A 68
70
13 50
57
e Preferred______ ___10(J 104 107
Crosst’n 1st 5s 1933.-J-D 101*4 102I2 Indianapolis Gas..............60
0 125 140
21. 3
18
United Copper_________IOC
« Conn Ry A Ltg c o m ... 100 73«2 75
1st g 5s 1052...............A-O 77 '82
0 131*2 133*2
18
Preferred....................IOC
14
82
e Preferred .................100 81
Jackson Gas 6s g 1937.. A-U ] 00 100
0
5
10
U S Casualty.................. IOC 215
1st A ref 4 y$s—See Stock Exc list
e Laclede Gas—See Stock E xch il st
40
U S Envelope com........ IOC
0 15
70
85
Grand Rapids By pref.. 100 82
e Preferred...................100
Preferred ....................IOC 115 l i e "
0 700 800
$ Loulsv St 5s 1930........ J-J 105*2 IOOI4 Madison Gas 6s 192 0 ...A-U 103
J S Finishing............... IOC
92
c k Exc list
97
Lynn A Bos 1st 53 1924.J-D 106 107
Newark Gas 6s 1944------Q-J 128
60
Preferred....................IOC> 105 110
0 57
3314
e New Orl Uys A L g t...l0 0
Newark Consol Gas......... 100 98
1st g 5s 1919..............J-J1 100 105
0 98 100
♦ Preferred.................. 100 71*2
eCon g 5s 1948.......... J-D 104
Con g 5s 1929..............J-J1 05 100
0 95 100
Uen M e 4Hs 1936-Nee 8 tk El list No Hudson L H A Pow—
95
0 91
e U S Indust Alcohol ...IOC1 23
29
I Pub Serv Corp of N J—See Stk E xl 1st
5s 1933...................... A-0 100
0 92 ___
e Preferred.................. IOC1 90
99
Tr ctfs 2% to 0% perpel 100*2
0 ___
Paclfle Gas A E, c o m ... 100 04
U 8 Steel Corporation—
Coitr g b% notes *13 A-O 100*3 101
Preferred.....................100 86*2
J / 45
75
Col trs f 5s 1931 opt ’ l l . 114 U412
North Jersey St l t y .. 100 60
Pat A Pas Gas A E lec.. 100 02
J / 45
75
Col tr s f 5s '51 not opt.. 114 114*2
1st 4s 1048............M-N
e Con g 5s 1949.........M-S 101
0 64
06
77
U 8 Tit Gu A Indem ....lO () 00 -• - .
77
Cons Tract of N J___ 100
St Joseph Gas 5s 1937..J-J 91
78
0
3*4 4** Westchester A Bronx TltU
1st 6s 193J.............J-D 104*4 105*4
0 27
30
A Mtge Guar............ .10( ) 160 166
Westlngh’se Air Brake.. 6() *149*!> 151
0 / 43*2 45
WorthlnsR’o Pump nref.101) 106 110
• For share. 0 Basis. * Soils on Stook Exchange, but not very active. / F,ac price, n Nominal.
1 Sale p rice. I New stock, x iix-dlv. * E x-rlghi
Volume of business at Stock Exchanges
Electric Companies
Ask
list
86*2 88*2
1696
THE CHRONICLE
Im re stra e w t
a n d
RAILROAD
iE itilt-o a tl
GROSS
[VOL. LXXXXII
I n te llig e n c e .
EARNINGS.
««
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. _ I he first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
sh° w tlle. fi?scal7 year totals of those roads whose fiscal year does not begin with July, but covers some other
period. 1 he returns of the electric railways are brouyht together separately on a subsequent page.
Latest Gross Earnings.
ROA DS
W eelc or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year.
A la N O A Tex P a c5
5
N O & Nor E ast. M a y _____
292,271
288,859 3.332.706 3,219,745
Ala & V lcksburg. M a y _____
132,895
136,374 1,650,485 1.564,457
Vlcks Shr A P a c. May _____
102,077
113,170 1,385,093 1,333,256
Ala Tenn A N orth. A p r il_____
9,002
7,523
100,284
70,428
Ann A rbor________ 2d wk June
41,290
33,610 1,877,701 1,791,857
A tch Topeka A S F< A p ril_____ 8,907,748 9,386,631 90,440,659 87,442,681
Atlanta 131rm & At 2d wk June
40,600
45.200 2,694,552 2,470,031
Atlantic Coast r.itu A p r il_____ 2,835,442 2,812,401 26,702,012 25,198,598
0 Baltimore A Ohio. May _____ 7,518,036 7,777,710 80,683,295 80,812,497
B & O Ch Ter R R A p r il.........
113,118
97,815 1,227,300 1,047,418
Bangor A Aroostook A p r il.........
264,224
265,494 2,638,947 2,531,521
Boston A M ain e.. A p r il____ 3,504,061 3,539,685 37,072,239 36,082,149
Bridgeton & Saco R A p r il____
3,236
43,271
3,610
42,595
Bull R och A Plttsb 2d wk June
181,8‘
212,890 8,792,05
8,575,152
Butralo & Susa____ A p r il_____
183,520
104,213 1,955,606 1,819,729
Canadian Northern. 2d wk June 313,200
290,400 14,308,000 12,149,200
Canadian Pacific__ 2d wk June 2,057,000 1,902,000 08,615,101 89,701,557
Central of Georgia. 2d wk June
197,700
189,600 12,414,082 11,574,091
Central ot New .Jer A p r il_____ 2,457,832 2,481,546 24,165,213 23,314,933
Central V erm ont__ April____
321,173
311,111 3,271,978 3,144,150
Chc3 A Ohio Llnes. 2d wk June 580,607
619,97 30,081,530 29,930,898
Chicago & A lton ___ 2d wk June 332,048
298,667 13,877,107 12,815,143
Chlo Burl & Quincy April
6,423,311 6,803,594 74,328,217 73,951,390
P Ohio Great W est. 2d wk June 277,478
274,712 12,076,753 11,577,414
Chic Ind A Louisv. 2d wk June
121.500
121,649 5,894,777 5,728,515
Chlo Miiw A St Paul A p r il_____ 4,771,762 5.480.336 54,753,053 53,974,705
Ch Mil A Pug S d . A p r il_____ 1,131,599 1,292,899 12,081,784
Chic A North West A p r il......... 5,518,495 5,787,010 62,560,500 61,521,509
Chic St Paul M A O A p r il......... 1,131,479 1,225,920 13,089,105 12,042,094
Chic T H A South E A p r il.........
104,410 1.725.188 1.504.737
147,126
Cln Ram A Dayton A p r il.........
758,031 7,923,498 7,832,331
75«,60:.
Colorado M idland.. A p r il_____
121,666
181,282 1.621.707 1,968,642
Colorado & South__ 2d wk June 237,052
292,550 15,208,741 15,990,871
Copper R ange_____ M a rch ____
521,367
560,383
55,292
63,415
C o rn w a ll________
A p ril_____
13,945
135,773
170,645
17.201
Cornwall A B ehan._ A p r il_____
22,424
275,842
364,736
30,891
Cuba Railroad_____ A p ril.........
301.183
278.594 2.529.189 2.100.737
Delaware A Hudson A p r il......... 1,754,927 1,756,841 17,384,388 16,586,180
Del Rack A W e s t.. A p ril_____ 2,928,107 3,116,490 29,620,399 9,732,600
D cnv A Rio Grande 2d wk June 438.500
444,700 22,351,333 22,404,653
Denver N W & Pac 4th wkMa;
23,248
22,526
955,556
882,815
Detroit Tol A Iront 2d wk Jun
20,233
37,554 1,725,028 1,520,895
Detroit & Mackinac 2d wk June
20,283
24,045 1,120,341 1,107,983
Dul A Iron R a n g e .. April .
269,349
425,675 5,805,519 7,235,298
Dul Sou Shore A Atl 2d wk June
63,184
68,116 3,002,854 3,142,138
El Paso A Sou West A p r il_____
558,433
674,682 6,016,673 6,071,891
E r i e _________
A p ril.
4,399,630 1,282,670 40,905,330 45,691,161
Fairchild A N E . . . April .
1,807
2,676
19,080
21,428
Fonda Johns A Glov May ._____
89,308
79,911
864,420
825,460
Georgia Railroad _. April ____
242,260 245,745 2,761,845 2,601,254
Grand Trunk S yst. 2d wk June 952,264
891,252 42,985,731 41.660,870
Grand Trk W est. 1st wk Jun
112,474
115,773 5,855,108 5,792,502
Det Gr II A Mllw. 1st wk Jun
40,037
39,200 1,920,086 1,865,863
• Canada Atlantic. 1st wk Jun
43,068
40,299 1,809,315 1,898,980
Great Northern Syst May .
4,901,764 5,708,014 55,651,450 58,407,432
Gulf A Ship Island A p r il_____
169,018 1,685,010 1.781.276
160.154
H ocking Valley___ April .
434,261 6,021,715 6.373.277
480,578
Illinois C en tra l___ May .
4,932,458 4.658.337 56,499,568 53,700,123
146,000 8,753,796; 8,202,131
140,000
Internat A Gt Nor 2d wk June
180,731 8,409,240 8,147,102
190,892
a Interoceanlc M ex. 2d wk June
71,718 3,356,231 3,228,293
70,300
Iow a Central____
2d wk June
213,922
195,572 2,566,912. 2,278,470
Kanawha A M ich .. April .
794,775
888,920 9,353,741 8,863,194
Kansas City S outh. May _____
34,000
33,800 1,547,961 1.357,418
K C Mex A Orient. 2d wk Apr
3,519,574 3,180,360 33,099,731 32,915,051
Lehigh V alley_____ May .
48,944
Lexington A E a s t.. April .
45,150
427,285
374,403
Louisiana A Arkan. A p r il_____
113,248
122,157 1,209,180 1,094,140
Loulsv Rend * St I April .
88,929
95,878 1,017,558
992,444
s Loulsv A N a sh v .. 2d wk June 944,755 970,285 51,728,077 50,175,009
Macon A Blrm’ham A p r il____
10,378
9,605
133,209
128,762
Maine Central___ A p r il____
700,535
697,894 7,470,293 7,401,426
Maryland A Pcnna. A p r il____
38,710
40,082
365,319
342,812
a Mexican Railway. 4 th wkMay
173.700 203,900 7,845,500 7.413.100
Mineral R an ge_____ 2d wk June
14,115
14,334
711,881
791,535
MInncap & St Louis d wk June
96,677
110,747 4,882,795 4,720,207
Minn St P & S S M] 2d wk June
419.155
449,363 20,918,539 22,928,344
Chicago Division]
74,135
Mlssiss’ pp'. Centra’ . April . . .
77,215
769,360
737,803
u Mo Kan A Texas. 2d wk June 448,037
447,233 7,742,757 25,456,560
Missouri Pacific____ 2d wk June 1,009,000 1,000,000 50,625,636 50,609,887
Nashv Chatt A St L Aprl’. _____ 1,020,779
970,625 10,314,117 9.604,447
a Nat R ys of M cx.f 2d wk June 1,165,423 1.501,729 58,690,869 58,269,526
7,799
Nevada-Cal-Oregon. 2d wk June
7,629
321,937
430,250
8,214
Nevada Central____ April . . .
2,402
71,678
50,230
N O Great Northern A p r il_____
139,240
146,431 1.409,307 1,198,020
30,758
N O Mobile & Cldc, W k Jun 10
31,030 1,711,366 1,579,385
e N Y C & Hud Rlv April _____ 8,369,123 7,742.496 84.454,789 80,842,506
Lake Shore A M S A p r il_____ 3,704,571 3,770,324 40.588,782 40,347,754
392,470 408,127 4,624,289 4.609.437
n Lake Erie & VV. A p r il.........
320,252
Chic Ind & South A p r il_____
309,713 3.078,241 3,209,359
Michigan Central. A p ril_____ 2,366,386 2,378,802 25,034,121 24,064,814
Clevc C C & St L . A p ril......... 2,399,154 2,274,959 25,773,446 4,611,300
Peoria & Eastern A p r il_____
249,291 2,997,118 2,721,084
26,002
96,590 1,053,005 1,038,953
Cincinnati North. A p r il_____
79,577
Pitts A Lake Erie A p r il......... 1,130,940 1,103,080 13,148,845 14,208,129
N Y Chic & St L . A p ril.........
956,306 9,349,122 9.136.438
907,675
To! A Ohio Cent. A p r il_____
170,213 4,233,453 3,540,707
334,907
Tot all lines above A p r il_____ 20291723 19450901 166647342 210454106
N Y N 1 I A R a r tt .. A p r il_____ 5,155,362 5,079,352 51,400,905 49,874,221
July 1 to Latest Date.
R O A D S.
N Y Ont A Western
N Y Susa A W e s t..
Norfolk Southern..
Norfolk A W estern.
Northern Pacific___
Pacific Coast C o ..
Pennsylvania R R . .
Balt Ches & Atl
Cumberland Vail.
Long Island_____
M aryl’d Del A Va
N Y Phi la A Norf
Northern Central.
Phila Bait A W __
W Jersey A Scash
Pennsylvania Co__
Grand Rap & Ind
Pitts Cin Ch ASt L
V a n d a lla _______
Total lines____"
East Pitts A E
W est Pitts & E
All East A Wes
Pcre Marquette____
Raleigh & Southport
Reading Company
Phila & R ea d in g .iA p r il_____
Coal & Iron C o .. '
Total both cos___
Rich Fred A Potom
R io Grande June__
R io Grande South.
R ock Island Lines.
R u tla n d ___________
St Jos A Grand Isl.
St Louis & San Fran
Chic & East 111..
/ Evansv & Ter H
Total all lines___
St L R ock y Mt & P .
St Louis Southwest.
San Ped L A & S L .
Seaboard Air L ine.
Southern Paclflo Co
Southern R a ilw a y ..
Mobile A O h io ...
Cln N O A T ex P_
A la Great S outh.
Georgia S o u * Fla
Tenn Ala & Georgia
Texas & Pacific____
Tidewater & W est.
T oledo Poor & West
Toledo St L A West
Tom blgbee V alley. .
Union Pacific S yst.
Virginia & So W est.
W a b a sh ___________
Western Maryland .
Wheeling A Lake E
W ichita Falls A NW
W rlghtsv A T e n n ..
Yazoo & Miss Valley
Various Fiscal Years.
Delaware A H udson..................
N Y Central A Hudson River e_
Lake Shore A Michigan South
Lake Erie A Western n ______
Chicago Indiana & Southern.
Michigan Central____________
Clove Cin Chicago & St Louis
Peoria & Eastern__
Cincinnati N o r t h e r n _____
Pittsburgh * Lake Erie__
New York Chicago A St Louis
Toledo A Ohio Central______
Total all lines........... ................
Pennsylvania Railroad_____
Baltimore Chcsap A A tlantic.
Cumberland Valley__________
Long Island_____________ .
Maryl’d Delaware A Virginia.
N Y Philadelphia A N orfolk.
Northern Central____________
Philadelphia Balt & W a s h ...
W est Jersey A Seashore.........
Pennsylvania Company________
Grand Rapids A Indiana____
Pitts Clncln Chic A St L o u is ..
V andalla______ _____ ________
T otal lines— East Pitts A Erie
West Pitts A Erie
All lines E A W .
R io Grande Junction___________
Rutland
Texas A Pacific
AGGREGATES OF GROSS EAR N IN G S— Weekly and Monthly.
Weekly Summaries.
Cur’ nl Year Prev’s Year Inc. or Dec.
Monthly Summaries.
Cur'n. Year Prev’s Year Inc. or Dec.
5
Mileage Curr. Yr. Prev Yr
1st week April (45 roads)____ 13,501,355 13,267,031
+234,324 1.76
A u g u s t ------238,493 239,404* 254,005,972 235.726,000
Id week April (44 roads)____ 13,172,553 13,313,736
— 141,183 1.06
S eptem b er.. 240,678 237,809 256,647,702 248,335,580 + 18,279,972 7.05
Id week April (45 roads)____ 13,438,037 13,400,800
+37,237 0.28
O c to b e r____241,215 237.835 263,464,605 260,821,546 + 10,312,116 4.49
Ith week April (42 roads)____ 16,302,363 17,827,550 — 1,525,187 8.61
+ 2,043,059 1.01
N o ve m b e r.. 241,272 237,545
____ 248,559,120 247,564,470
1st week May (45 roads)____ 12,740,745 13,095,725
+ 991,650 0.50
— 354,980 2.71
December ..241,361 238,080! 23 6,8 3 5,304 220,870,151
Id week May (44 roads)____ 12,804,714 13,105,414
+ 15,965,153 7.23
— 300,700 2.20
January
...2 4 2 ,4 7 9 J 10,1)0/,U17
...------„
-----<£oo,ooo;
'’ 38,866,215,057,017 210,808,247 + 4,248,770 2.01
Id week May (42 r o a d s ) . ... 12,714,017 13,222,359
— 508,342 3.34
F ebruary-..2 4 2 .6 4 0 238,603| 199,035,257 202,192,120 — 3,456,863 1.78
Ith week May (47 roads)____ 19.068,495 19,029,2)3
+39,252 0.21
......... 237,735 234,2 58 i22 5,018,971 236,208,104 — 11,249,133 4.76
1st week June (43 roads)____ 12,949,549 13,155,850
— 206,301 1.57
............25®.793 233,082 ;2 15.799,070 223,245,128 — 7,448.049 3.33
Id week June (43 roads)____ 13,444.268 13,775,015
2.40
—
330,747
.............. o 87,422
85,7341 63,174
606 62,515,955
„
--------------------------- -— -—;-----;............................ ..............---------------------- :---- -- --------------a . f j -11 04,1/1,000
62,515,055
+658,051
+ 058,051 1.0
1.01
currency, e Includes tho Now York A Ottawa, the St. Lawrence A Adirondack and the n t t w n «, m v ~n7,
— tt-t
)elng a Canadian road, does not make returns to the Inter-State Co amerce Con.nission
t inM .ii , ,, tno ,,, a'Ya ,
• * • R y-, the latter ot whloh*
and Lorain A Wheeling B y . In both y e a r s ! n d e lu d e s t h o Northern Ohio R R
n lnnln l e i “ °Lu„,le3 Evansville A Indiana R R . g Includes tho ClevcDta A Pacific, j Includes Louisville A Atlantic from July 1 1909 an 1 tho Frankfort A CinehinV/Pfot
m’ ou C,
Ft * B odge and Wisconsin Mlnnela tlo n a t from July 1910,
u Includes the Texas Central h f 1911.
iclnnatl from N ov. 1 1909. t Includes tho Mexican Inter*
June
Latest Gross Earnings by Weeks.— In the table which
follows we sum up separately the earnings, for the second
week of June. The table covers 43 roads and shows 2 .4 0 %
decrease in the aggregate under the same week last year.
1911.
Second week of June.
Alabama Great Southern
Ann A rbor ---------------------Canadian N orthern_______
Canadian P a c ific __________
Central of G eorg ia .. _____
Chesapeake & O h io_______
Chicago & A l t o n _________
Chicago Great W estern ___
Chicago Ind & L oillsv_____
Cine New Orl & T ex P a c__
Colorado & Southern___ _
Denver & R io Grande_____
D etroit & M ackinac_______
Detroit Toledo & Ironton,
Grand Trunk of C anada--------Grand Trunk W est------------- .
Det Gr H av & M ilw ________
Canada A tla n tic___________
Internat’ l & Great N orthern.
Interoceanic of M exico---------Iowa C en tra l________________ _
_
Louisville & Nashville----Mineral R an ge,
---------------- .
■Minneapolis & St L o u i s . . , - - .
Minneapolis St Paul & S S M . , |
Chicago Division-------.
Missouri Kansas & Texas
Missouri Paclllc. . ------- .
Mobile & O h io..................
N evada-Californla-Oregon . .
Rio Grande S o u th e rn --------St Louis Southw estern------Seaboard Air Line--------------Southern R ailw ay-----...
Tcnn Alabam a & G e o r g ia ...
Texas & Pacific------------------T oledo Peoria & Western .
T oledo St Louis & W estern.
W abash........................ ............
.
.
.
.
.
1910.
76,260
41,290
46,606
181,826
313,200
2,057,000
197,700
580,607
332,408
277,478
121,500
164,606
237,652
438,500
20,283
26,233
63,184
38,599
$
82,609
33,610
45,200
212,896
290,400
1,902,000
189,600
619,972
298,667
274,712
121,649
179,646
292,550
444,700
21,045
37,554
68,1 10
39,071
952,264
891,252
140,000
190,892
70,300
944,755
14,115
96,677
419,155
146,000
180,731
71,718
970,285
14,334
110,747
449,363
448,037
1,009.00C
206,69C
1,165,42!
7,791
9,227
190,021
381,591
1,036,46!
2,637
234,126
23,755
82,025
604,371
447,233
1,000.000
213,050
1 ,501,729
7,629
13,1 12
202,710
383,964
1,059,735
2,194
269,300
22,292
86,070
574,570
$
0,349
7,080
1,400
22,800
155,000
8,100
33,741
2,700
31,070
39,305
149
15,040
54,898
0,200
3,702
11,321
4,932
472
01,012
0,000
10,101
804
9,000
~ 1~,418
25,530
219
14,070
30,208
443
1,403
0,300
330,300
35, i 74
4,045
29,809
075,102
330,747
For the first week of June our final statement covers 43
roads and shows 1 .5 7 % decrease in the aggregate under the
same week last year.
First week of June.
1911.
1910.
Increase. Decrease.
S
681,890
5
$
Previously reported (38 roads) 12,073,538 12,302,302
Grand Trunk of C anada--------791,354
873,582
Grand Trunk W estern ------Detroit Gr H av & M ilw ... .
Canada A tla n tic------------------2,194
2,429
Tennessee Alabam a & Georgia.
$
393,126
235
...........
12,949,549 13,155,850
475,589
681,890
206,301
T otal (43 roads) ...............
Net decrease (1 .5 7 % )--------
82,228
—
Net Earnings Monthly to Latest Dates.— The table fol
lowing shows the gross and net earnings of STE A M railroads
and industrial companies reported this week:
-------Gross Earnings--------------- Net Earnings------Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
■ $
$
Baltimore & Ohio b
May 7,518,0.10 7,777,710 2,517,812 2,130,540
Ha j uly 61 to May 3 1 . . - . .80,683,295 80,812,497 23,117,207 25,018,947
Roads.
Central^New E n g l a n d .b -
? , 2 , 71
083>904
307t329
304.217
Dunkirk All Vail & P ltts.a —
3,089
11,104
Jan 1 to Mch 3 1 . . - . . 75,054
63,428
40,337
49,792
Fonda Johnst & G lov — May
89,308
79,911
423,184
456,183
July 1 to May 3 1 ______
801,420
825,400
318,002
263,314
Kansas City Southern, b May 794,775
888,920
July 1 to May 3 1 ______ 9,353,741 8,863,194 3,339,860 3,056,737
Lehigh V a lle y .b .,
..M a y 3,519,574 3,180,360 1,492,400 1,312,570
July 1 to May 31
..33,999,731 32,915,051 12,516,203 13,068,287
707,564 1,000,734
Missouri P a clllc.b .A p r 4,031,640 4,282,364
July 1 to A pr 3 0 ........... 44,301,636 44,484,887 10,826,711 12,999,401
New Jersey & New Y o r k .b —
31,328
44,542
Jan 1 to Mch 3 1 ...........
102,472
148,808
206,112
389,429
P e t e M a r q u e t t e _ b . , ___ M a y 1 , 2 8 1 , 1 2 6
1 ,3 2 2 ,1 3 0
July 1 to May 3 1 _______14,644,094 14,096,030 2,818,826 4,444,466
3,512
6,709
Raleigh & S o u th p o rt.b . May
15,900
12*999
60,488
66,537
July 1 to May 3 1 ...........
161,524
146,181
11,908
15,571
R io Grande S ou th ern .b . A pr
39,897
47,588
168,695
125,892
July 1 to A pr 3 0 ______
473,709
441,321
7-222,828
7-288,318
W estern M a rylan d.a — A pr
589,789
656,086
July 1 t o 'A pr 3 0 _____ 5,980,036 5,844,350 r 2 ,110,154 r2 ,292,072
IN D U S T R IA L CO M PA N IES.
Companies.
Atlantic City El C o .. . . May
o.M a y
Mexican Lt & Pow Co>..M a y
U S Express C o .b
. .M ay
..M a y
. .M ay
...M
ch
------Mch
Current
Year.
$
32,351
20,877
377,124
1,965,920
660,070
3,370,325
19,642
29,796
52,155
848,142
7,948,066
Previous
Year.
$
28,312
19,824
340,101
1,754,154
567,555
2,661,701
18,631
28,427
50,578
894,527
6,771,560
— Net Earnings------Current
Previous
C
Year.
Year.
$
$
15,162
10,630
9,204
10,484
170,721
170,015
929,754
998,518
265,455
344,632
1,857,149
2,098,282
3,916
0,724
8,609
13,584
25,508
26,777
108,853
11,021
258,859
447,412
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
r A fter allowing for miscellaneous receipts and net from coal and other
departments, total net earnings for April 1911 were $263,994, against
$330,403 in 1910; and from July 1 to Apr. 30 were $2,450,699 In 1911,
against $2,737,710 In 1910.
Interest Charges and Surplus.
Hoads
— Int., Rentals, & c.—
Current
Previous
Year.
Year.
8
$
— Hal. of Net E arns.—
Current
Previous
Year.
Year.
S
3
Central New England—
477,199
122,819:rdefl54.099
Z200.369
Jan 1 to Mch 3 1 ---------Dunkirk All Vail & Pitts—
10,073 a;def3.355 rd efl2 ,0 39
14,093
Jan 1 to Mch 31---------New Jersey <5c New Y ork—
53,746 zdef24,323 xdef8,413
56,455
Jan 1 to Mch 31---------384,998ydef225,540
t/8,328
383,746
Pere M arquette------------- May
t/440,040
July 1 to May 31---------- 4,074,82o 3 ,9 6 7 ,123j/df 1776,693
20,257 gdef7,287 :rdef3,893
R io Grande S ou th ern .. .A p r
19,848
196,375 zd efl4 ,4 5 2 zdef58,792
July 1 to A pr 30---------192,137
IN D U S T R IA L C O M PA N IES.
In t.. Rentals, & c.— — Hal. of Net E arns.—
Previous
Current
Current
Previous
Year.
Year.
Year.
Year.
Companies.
•$
%
$
$
9,720
5,442
9,833
6,803
Atlantic City Elec C o .. May
5,951
6,760
3,724
Canton Elec C o ----------- May
66,056
09,948
109,959
100,773
.M ay
439,626
422,729
507,025
558,892
Jan 1 to May 31.
849
def 300
4,216
5,875
Muiicie Elec Lt C o-----6,878
2,893
5,716
6,706
R ockford Elec C o-------15,329
14,789
10,179
11,988
Scranton Elec C o-------- .M ay
x A fter allowing for other Income received.
.
. .. _
y A fter allowing for outside operations, hire of equipm ent and other
Incom e.
ELECTRIC RAILW AY AND TRACTION COMPANIES.
Latest Gross Earnings.
Name o f
Road.
3,885
12,084
2,373
23,272
. 13,444,268 13,775,015
T otal (43 roa d s).
Net decrease (2.40?
R ockford Elec C o.
1097
THE CHRONICLE
1911.]
Week or
M onth.
Current
Year.
Previous
Year.
$
354,618 335,208
May ___
American R ys Co —
25,357
20,660
Atlantic Shore R y ._ May
cAur Elgin & Chic R y A p r il_____ 130,913 120,384
42,875
41,750
Bangor R y & Elec Co May ____
8,302
8,818
Baton Rouge El C o .. A p r il____
26,924
28,709
Binghamton Railway A p r il____
218,255
224,986
May
____
Birni R y , Lt & P o w .
8,744
8,277
Brock & Plym St R y . A p r il____
1591,045 1492,851
Bklyn Rap Tran S ys. February
24,897
23,332
Cape Breton Elec C o. A p r il____
18,983
20,786
Carolina Pow & Lt Co May ____
43,280
41,778
Cent Pk N & E R lv . February
65.744
65.112
Ccntral Penn T r a c .. A p r il____
70,811
77,738
Chattanooga R v & Lt May -----25,200
26,572
Clevc Palnesv & East A p r il____
79,311
85,885
Clevc Southw & C o l.. A p ril-----40,695
41,303
Columbus (Ga) El Co A p r il____
86,364
90,656
Coney Isl & R k ly n ..
125,387 113,406
Dallas Elect C o rp .. April
y 277,764 250 1533
Detroit United R y 45,739
44,852
D D E B & Bat (Rec)
90,289
98,007
Duluth-Superior Trac May
193,181 183,478
East St Louis & S ub. May
49,490
53,695
El Paso Electr c -------- April
44,517
53,186
Falrm & Clarks Tr Co April
90,321
102,991
12dStM&SNAv (Rec) February
121,146 104,550
Galv-IIouston El C o. April
93,207
98,137
Grand Rapids R y C o. May
42,804
40,990
8
Havana Electric C o_.
Ilonolulu Rapid Tran
36,129
39,332
& Land C o_______ A p r il____
24,248
25,508
H oughton Co Tr C o . . A p r il____
389,941 340,367
Hudson & Manhattan May ____
549,729 486,490
Illinois Traction Co
2058.585 2564,772
Intcrboro R ap Trans April .
47,212
46,164
Jacksonville Elec C o. April .
656,061 622.555
Kan City R y & Lt Co March
86,915
91,958
Lake Shore Elec R y .
10,691
1 1,789
Long Island E lectric.
975.696 976,326
Metropolitan St (Rec) February
395,571 374,426
Milw El R y & Lt C o.
71,315
70,945
Milw L t. l i t & Tr Co- April .
431 ,689 370,234
Montreal Street R y . . May
162,313 147,820
Nashville R y & Light May
538,179 534,281
New Orleans R y & Lt April
13,579
19,495
N Y City Intcrboro . . February
19,894
22,644
N Y & Long Island Tr February
66,061
76,610
February
N Y & Queens C o-----171,813 160,492
Norf & Portsm Tr Co May ___
1 4,505
15,185
Northam Easton & W May ___
173,763
200,014
North Ohio Trac & Lt A p r il___
126,681 111,280
North Texas Elec C o. A p r il___
188,841 184,354
Northwest Kiev C o_. May ____
3,065
2,952
Ocean Electric (L I ) . February
48,747
53,334
Oklahoma City R y . . A p r il___
20.389
21,452
Paducali Tr & Lt C o. A p r i l ____
22.73 1 22,263
Pcnsacola Electric Co A p r il__
527,931 460,436
Port(Orc) Ry.L & P C o. May __
145,604 158,919
Puget Sound Elec C o. A p r il____
19,493
21,374
Richm ond Lt & R R . February R lo dc Janeiro Tram
916,476
1096,947
_
May
.
.
.
Light & Power C o.
St Joseph (Mo) R y.L t
79,587
88,759
Heat & Power Co . . May . . .
276,57£ 237,698
Sao Paulo Tr, L & P . May . . .
50,650
55,395
Savannah Electric Co April . . .
452,17! 460,490
Seattle Electric Co — .April . . .
57,195
55,285
Second A vc (Rec) — February
6,464
7,351
Southern B oulevard. February
13,856
14,84!
April
Sdu Wisconsin R y Co
13,390
14,20!
Staten Isl M id lan d .. February
48,362
55,30!
Tam pa Electric C o._ April
259,867 276,854
Thlrd Avenue (R e c ). February
31,016
34,221
14
Toledo R ys & Lt Co
364,45! 328,785
Toronto R y C o -------- April
nc 155,00t 141,9 16
Twin City Rap Tran
Underground El Ry
of London—
17 £14,17! £12,640
Three tube lines
17 £12,18! £11,258
Metropolitan Dist
£7,433
17 £ 7,15!
United Tram ways
150.8 58 137,225
Union (R e c )----------1 242,908 230,323
U nionR y.G & E C odll)
1053.821 1008,384
United R ys of St L
652,86t 618,015
United R R s of San Fr
29,276
36,191
W estches Elec (R e c ).
32,661
1 29,29W hatcom Co R y & Lt April . .
44.438
____
Yonkers R R (R e c ). . Fcbruai
15,798
17,48April
..
Youngst & Ohio Itiv .
Jan. 1 to latest date.
Current
Year.
Previous
Year.
1,583,336
103,365
487,084
235,069
36,193
$
1,504,740
111.339
444,275
209,599
34,203
1,134,227 1,069,376
29,497
29,471
3,336,467 3,122,029
95,763
97,057
97,235
112,464
87,936
92,214
249 861
259,848
335,715
368.045
90,062
94,814
324.046
293,352
155,613
138,409
181,437
190,590
452,176
514,254
3,631,679 3,297,516
95,162
94,398
416,301
438,851
918,799
905,984
212,866
227,404
164,627
208,612
198,687
219,444
396,224
448,527
430,871
451,713
976,283
1,085,794
156,115
93,421
1,914,283
1,650,699
0.494,792
197,802
1,912,019
339,314
24,819
2,076.561
1,575,880
298,824
1,876,852
790,245
2.242,004
40,493
47,037
160,146
826,450
63,791
748,885
502,716
924,860
6,265
191,073
84,485
90,264
2,560,045
563,628
44,497
145,263
98,772
1,643,209
1,427,326
10,170,042
190.339
1,788,017
322,770
21,239
2.010,421
1,481,239
275,951
1,680,793
725,481
2,129.580
28,594
38,375
134,499
765,007
5,035,809
4,097,283
435,301
1,401,695
213,560
1,817,922
120,880
15,583
58,080
30,095
222,671
550,851
408,614
1,145,567
194,585
1,820,553
114,167
13,571
53,995
27,336
212,068
550,987
1,432,421
3,248,959
1,303,049
3,067,800
£334,905
£281,695
£148,771
318,635
1,024,475
4,784,945
2,525,935
76,679
125,382
93,770
68,482
£318,140
£262,669
£145,495
286,473
982,928
4,605,801
2,494,866
62,450
134,516
658.339
438,890
914,457
6,043
174,055
80,300
84,219
2,166,734
592,285
40,126
" 5 9 " , 409
c These figures"are foi consolidated com pany.
Electric Railway Net Earnings.— The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of June 10.
1698
THE CHRONICLE
------ G r o s s
E a r n i n g s -----C u rren t
P rev io u s
Y ea r
Y ear.
H oa d s.
$
.
A m er Light & T ra c--------- May 309,608
Jan 1 to May 31............ 1,696,648
A tlantic Shore R y . b ------- May
26,660
Jan 1 to May 31............
103,365
41,750
Bangor R y & E l.a ----------May
July 1 to May 31______
525,400
BIrm’ham R y , L & P __ May
224,986
Jan 1 to May 31______ 1,134,227
Chattanooga R y & L t .a .M a y
77,738
Jan 1 to May 31______
368,045
Duluth-Sup T r a c .b _____ May
98,007
Jan 1 to May 3 1 ...........
438,851
East St L & S u b .a ______ May 193,181
Jan 1 to May 31______
905,984
Grand Rapids R y .a _____ May
98,137
451,713
Jan 1 to May 31______
c Hudson & Manhattan a May
389,941
Jan 1 to May 31______ 1,914,283
Lehigh Val T ra n s............. May 110,860
July 1 to May 31............ 1,285,620
M exico Tram w ays------------May 502,016
Jan 1 to May 31---------- 2,507,214
Montreal St R y . b .............. May 431,689
O ct 1 to May 31---------- 3,006,913
Nashville R y & L t.............M ay 162,313
Jan 1 to May 31______
790,245
N or! & Portsm T r . b _____ May 171813
July 1 to May 31______ 1,906|274
Phlla Co (Pitts) . a M ay 1,719,845
A pr 1 to May 3 1 ---------- 3,537,558
P ortl’d(Ore) R y .I.A P a May
527 931
Jan 1 to M ay 31............ 2,560,045
R io d c Jan Tr, L A P .a .M a y 1,096,947
Jan 1 to M ay 31............ 5,035,809
St Jos R y, Lt. II A P .a .M a y
88,759
Jan 1 to May 31______
435,301
Sao Paulo Tr, L A P .a .-M a y
276,579
Jan 1 to May 3 1 ........... 1,401,695
United R ys o f St L .a .- . M a y 1,053,826
Jan 1 to Alay 3 1 ______ 4,794,945
------- N e t
C u rren t
Y ea r.
$
$
E a r n i n g s ------P rev io u s
Y ear.
273,044
299,701
1,513,821 1,649,592
25,357
6,173
111,339
11,428
42,875
20,868
510,230
280,437
218,255
106,781
1,069,376
549,715
70,811
33,854
335,715
156,317
90,289
48,915
416,301
187,584
183,478
87,525
918,799
386,908
93,207
41,699
430,871
189,521
340,367
222,687
1,643,209 1,048,030
100,637
58,884
1,111,854
707,704
479,925
261,363
2,2 76,526 1,294,814
370,234
214,959
2,707,235 1,218,991
147,820
79,637
725,481
398,838
160,492
67,300
1,754,018
815,353
1,737,967
693,464
3,437,063 1,527,386
466,436
283,982
2,166,734 1.318,081
916,476
569,076
4,097,283 2,562,873
79,587
32,409
408,614
170,407
237,698
169,847
1,145,567
887,165
1,008,384
322,245
4,605,801 1,460,179
a Net earnings here given arc after deducting taxes,
b Net earnings hero given are before deducting taxes.
c These figures represent Income from all sources.
$
R oa d s.
I n i . , R e n t a l s , A c .—
C u rren t
P rev io u s
Y ea r.
Y ear.
$
$
Atlantic Shore Line R y May
8,339
12,548
Jan 1 to May 3 1 ...........
40,494
62,700
Bangor R y & E le c _____ May
12,483
11,712
July 1 to May 31______
134,040
129,041
Chattanooga R y A L t .-M a y
19,905
18,265
• Jan 1 to May 31______
97.741
90,402
Duluth-Superior
T
ra c. .M ay
---------------22,042
.
19,417
Jan 1 to May
31_________
110.208
97,083
East St Louis & S ub_____M ay
45,610
45,230
Jan 1 to May 31______
227,332
225,933
Grand Rapids R y _______ May
15,018
14,894
Jan 1 to May 31......... ..
75,344
75,909
Hudson & Alanhattan___ Aray 219,005
191,977
■ Jan 1 to May 31______ 1,062,191
946,065
Lehigh Valley Trans_____ May
36,785
36,275
July 1 to Alay 3 1 ...........
443,418
434,930
Montreal Street R y _____ Alay
60,346
48,977
• Oct 1 to Alay 31______
339,889
306,147
N orfolk & P ortsm ou th ..A lay
61,342
65,663
July 1 to Alay 31______
685,971
709,503
Portland (Ore) R y, L & P Alay
______
122,162
113,465
Jan 1 to Alay
31.
613-,668
561,509
St Jos R y , Lt, H &
P ...A r a y
19,379 18,583
Jan 1 to May
3 1 ..
97,022
90,859
United R ys o f St L o u is .. Alay
229,213
232,871
Jan 1 to May 31............ 1,150,443 1,166,856
International Mercantile Marine Co,, New York.
—B a t . o j N e t E a r n s .—
C u rren t
P rev io u s
Y ear.
Y ea r.
$
5
def2,166
def29,066
8,385
146,391
13,949
58,576
26,873
77,376
41,915
159,576
26,681
114,177
3,682
dcfl4,161
22,099
264,286
154,613
879,102
5,958
129,382
161,820
704,413
13,030
73,385
£98,436
£329,430
dcf4,734
def36,087
8,639
144,044
10,074
41,093
21,047
66,177
30,389
175,214
27,901
114,701
16,715
19,005
19,509
120,956
120,640
793,645
1,319
42,969
136,358
577,396
11,628
69,991
£93,789
£197,140
£ A fter allowing for other Income received.
ANNUAL
REPORTS,
Annual Reports.— The following is an index to all annual
reports of steam railroads, street railways and m is e e lln n e m iq
companies which have been published since May 27.
This index, which is given monthly, does not include
reports in to-day’s “ Chronicle.”
Railroads—
Page.
Buffalo A Susquehanna Ry. A UR.
(Receiver’s Report (or 9 m os.)...1559
Dcs Moines A Fort Dodge R R .......... 1632
Grand Rapids A Indiana R y.......... 1431
Western N. Y. A Pennsylvania Ry_1431
Electric Railways—
Havana (Cuba) Electric R y............. 1559
Peoria (III.) R y...................................1500
Industrials—
Amalgamated Copper C o .................. 1559
American Gas Co., Philadelphia___ 1496
Associated Oil Co., San Francisco.. 1562
British Westlnghouse Mfg. Co., Ltd 1634
Butte Coalition Co...............................1563
Canadian Westlnghouse Co., Ltd.,
Hamilton, Ont......................
1634
Copper Range Consolidated Co........ 1497
Columbia Gas A Electric Co., Cine. 1561
Crow’s Nest Pass Coal Co., Ltd
Toronto, Ont____________
” l563
Cudahy Packing Co., ChlcagolIII” 1433
Diamond Match C o ............ ........... 1497
Dominion Coal Co., Ltd. (15 mos'.j*1434
Dominion Iron A Steel Co.. Ltd.
(10 months)........ ...............
1433
Domln. Textile Co.. Ltd., Montreal. 1534
Economy Light A Power Co............. 1502
Industrials (Concluded) —
PageHouston Oil Co., Tex. (Report sub
mitted March 2 8 1911)...... ........... 1560
Hudson River Electric Power Co.
(Rec’rs report Oct. ’ 10 to Apr. ’ l l ) 1432
International Nickel Co., N. Y ___ 1559
Internat. Smelt. A Ref. Co., N. Y..1559
Lanston Monotype Alach. Co., Phlla.1434
Lindsay Light C o ........................
1561
Alarconl Wireless Telegraph Co. of
America, N. Y ........ ...................... 1563
Montreal Light Heat A Power C o .. 1496
Ohio Fuel Supply Co......................... 1640
Pacific Mall Steamship Co. (Prelimi
nary Statement).............
1495
Socletc Anonyme Westlnghouse of
Paris................................................1634
Spring Valley Water Co., San Fran.1496
Standard Screw Co., Chicago______1561
United Aletals Selling Co. (Balance
Sheet Dec. 31 1910)....................... 1561
United States Gypsum Co................. 1496
United States Realty A Improve
ment Co., N. Y .................
1433
Vulcan Detlnnlng Co., N. Y ...........1561
Westlnghouse Elec. Alfg. C o ..1632. 1642
(J. G.) White A Co., Inc__________ 1560
The McCrum-Howell Co., New York.
{Report for 11 Months ending April 1 1911.)
President Lloyd G. McCrum, New York, June 5, wrote*
' rli}° ft!ar5l of directors has deemed It wise to change the date for the ending
tth o fiscal ycar from April 30, as heretofore, to Alarch 31 • This renort
erefore, concerns a period of eleven m onths.
...............................p. .*
S7 Innn n n iw(V.
v Pa
il0n
n ap!tia
i , ? t?inckorder
w,as Increased
$3,000,000
to
$7,000,000
91,
p. t i^
I4o0,
1163)
to providefrom
funds
with which
more extensively to engage In the vacuum-cleaning industry and greatly
to Increase the scope of the already firmly established lines of “ rn^hmemf”
boilers, radiators, enameled Iron ware and concealed transorn lifts
All of
264,045
1.468,192
7,814
26,613
re“ ° "
S & V K S f
20,351
Your company has taken Its position as the largest makers of vacunm273,085 cleanlng systems In the world, and is now equipped to produce a comp e l
103,932 thoes t o r c W o M m hall^IeM rS V h f 8WCCpF plant- ™oh as is I n s t * in
496,062
portable cleanerI h 1 d ° " ChIca8° ’ down to a hand-power operated
28,339
131,495 making
o t apier.
l W ^dlvs.
i™ ^
asIdc earned
of S40'834
making P
total
5138,538, the t,ng
company
$390accrued
702 nr dtvs.,
morn
40,464 than 11% on Its present $3,500,000 com. stock now outstanding
Net
163,260 earnings for the 11 mos. were $529,240, or practically four times the pref
75,619 div. charge. The average outstanding com. and pref stock for the 11 mos
was, In round figures. $2,000,000 pref. and $2,000,000 com. On tills bases’
401,146
the earnings on the average outstanding com. stock, after deducting pref’
42,795 dlvs.
and $100,000 for depreciation, were 14 4 3 % .
" p
*
190,610
The company Is In excellent financial condition. The net cash and work208,692 of^AtajM8 / ( ) 1 o * 1 1911 were $2,524,611, In comparison with $1,067,811 as
965,070
The company is now operating six plants, as follows: boiler plant Nor55,784
555,886 2:®?* „Co“ n;:l Eastern stationary vacuum-cleaning plant, Philadelphia*
Western
stationary vacuum-cleaning plant, Chicago; electric portable suc236,427
p l i }nt i Hac!nc' Wls” radiator pIant. TJnlontown, I>a ; enam1,159,086 l 1
tJ.1WarCt P al?Ml Unlontown, Pa. The sales organization extends from
170,617 D?tfov,,t,?n-h0arn:i w th display rooms In New York, Boston, Philadelphia
1,099,792
I ittsburgh, Chicago, Milwaukee, Detroit and Alinneapolis.
’
72,661
INCOME ACCOUNT.
373,639
X
Mrh°i\ Mi‘
11 Mos- m,L Ycar ena66,982
earnings after nr 31 U ’ A p r ' M 10,l ,
M c h . 31 ’ ll. A p r 'M Y l O
752,472 Net
dinary repairs and
Common dividends... $11,273 ..........
797,259
mamt.,interest. Ac $529,240 $391,100
reserve" _ 1i ° ^ ^ S75’00(>
1,604,563
dividends s m sas $00,7441
sen , ,, L Total deductions...$249,811 $!35,744
249,823 Preferred mviuenus..$138,538
Balance, surplus____ $279,429 $2551355
1,138,905
BALANCE SHEET.
450,351
Apr 1 ’ ll. May 1 ’ 10.
1,919,896
Apr. I ’ l l . M a y n o .
Assets—
$
g
Liabilities—
§
30,211
Real est., plant, & c.5,259,249 2,347,875 Preferred stock........3,500,000 1,500,000
160,850 Cash - - - - - - - - .......... 270,567
133.733 Common stock_____
........................
---3,500,000 1,500,000
Accts.
&
bills
recelv.
1,477,509
735
376
.... 171,245
...
92,500
150,453
Depreciation reserve.
Manufactured goods,
730,841
I Accrued dlvs., A c__
40,834
32,101
work In progress,
' Accts. A bills payable 502,803
322,609
material & s u p p ..1,380,172 551,285 Surplus............ ......... 612,015 310,482
1,346,376
333,186
T o ta l.................... 8.387,497 3~708^269
T o t a l.................... 8,387,497 3,768,269
—V. 91, p. 1450, 1331.
*
Interest Charges and Surplus.
—
[V O L . L X X X X I I .
{Report for Fiscal Year ending Dec. 31 1910.)
The report signed June 1911 by C. A . Griscom, Chairman,
and J . Bruce Ism ay, President, says in substance:
General Results.— The com bined Income account o f the companies for tho
/e a r 1910 shows a surplus of $4,849,581, after meeting all fixed charges and
operating expenses in which latter arc Included all charges for repairs
tao yeanraf9C0C9 . T n In cr e a s e d
4 6 WUh a surplus ot « 1-182.335 for
.This does not Include the operations of the Leyland and National lines In
year nroms
holflla*s - These lines report tar the
aS ImprevemenT over lo o o !
’
’ respectIvely’ both companies showing
reUred^aiTnnr m f a '.Pi*1n>8 iS ?n ’ ®2,59 A ° ° ot thc
mortgage bonds wero
A ug 1 i n n
1 ,1010, nrK *325.000 additional will be retired on
’ , ‘.he debenture bonds of constituent companies held by tho
Dec 3iai909 tCCl ° n D ec' 31 1910 to 5° ’ 615.312, as against $6,677,634 on
Insurance.—- The results o f the working o f the Insurance department for
the year 1910 were so satisfactory that premiums collected
elated companies during the latter part of the year amount Iup* with in
w ^ ^ r c d l t a l 1o° m o fUCaC
n ; i L ^ CqUlrCtl fby
therefore
S t L fund on j S ? 1 f o n was $ l?672t.767\hC t0ta' SUrp,US to the crcdlt
a
n tne
d ^cost
c ^tnercof,
o s ^ together
t a e r with
r e Tdepreciation
' pn?Pc.rt y on
hasall
been
fully mother
aintained;
and
nronertv
than
steamships, was charged to operating expenses
p perty otnci than
The steamship Pakeha, In which the W hite Star Line is nart owner has
been added to the Shaw. Savlll A Albion C o.’s neet and two ad d ition ^
steamers in which your com pany will be Jointly Interested arc expected to
be com pleted and In commission this fall.
°
10
Owing to the developm ent of Its business to thc W est Indies Alexico and
the Gulf, the directors of thc Leyland Company decided to order three m ore
steamers of the Aledian type, to be delivered the latter part of this venr
hollowing the policy of disposing of obsolete tonnage, the steamers
R om an, W csternland and Vancouver, together with tlic steamship v irg l n t o 'o f the Leyland Line, have been disposed of on satisfactory terms
T b eS S . pttaw a was also sold in March and the SS. Ottoman In April 191 i
The Olym pic, thc largest steamer In thc world, sailed from SouthamDton
on her maiden voyage June 14 1911. Considering her huge size and ex
cellent speed, her extensive enclosed promenade deck, her spacious nubile
room s. Including lounge and reception rooms, restaurant cafe, veranda
cafe, 'I urklsh, electric and swimming baths, squash racquet court and gym
nasium, and also her unusually large staterooms. It Is confidently expected
that she will prove most attractive to the traveling public. Thc Titanic
her sister ship, was launched on Alay 3 last, and Is expected to tako her
Plhc® In the New York-Southam pton service early next year.
I he number o f vessels now in the various services Is 124, representing a
gross tonnage o f 1,078,370, tons, to which will be added, when the six
steamers now building are com pleted, 79,900 tons gross, making In all a
total tonnage of your own and subsidiary companies o f 1,158,270 tons v iz 'v.°
Gross Tons.
N
Gross Tons '
N oo..
24......... ....................... under
5,000 “3 ....... ................... ........ 15,000
........... to 20,000
'
34................................. 5,000 to 10,000 ■1....... ........................... 20,000 to 30.000
3 2 - ......... ..................... 10,000 to 15,000 2 - - - ............................a b o u t
45.000
and one training ship
Ir/tanTh-si nn
i ra - ’ tlantlc passenger traffic showed a material Increase
rp«nit Ihnt
clas.s m ovem ent, both cast and west-bound, with tho
Imn ov'id T h l m S 3 from this branch of thc traffic were substantially
as* regards' either
flrst°or%pronqC
f.]PrCS?,nt;
n.otonqultc
as satisfactory
inwrn
i0r sec(\ni1 class
b us I,year
iiess, ,s
and
account
of thc curitm T ^ ^ ln n ^ Q gi? ^ CVei0pm entiand constructIon work in the United States
Dast^years^ e m l g r a t l o n ^ V ^ cSt year’ As lln(ler s,mllar circumstances Iri
on .lrla? to some extent oltset thc reduction in earnimrs
<thro ,l.S^ L ^ csV b0Und m ovem ent, so that, on the whole. It Is
M«ath ihrnomtn ???, from Passenger business m ay be fairly well malnta il^d
the ^P^tlt of the recent Improvement in your tonnage.
, 9 ' lAn i ! : a P r s ,h.'uf ° f 1910 the freight situation was anything but satlsfact ry, exports dining some months amounting to less than Imports shovving a very unhealthy condition o f trade. During the latter part of tho
year, however, owing to the excellent crops In this country aruPthc conse
quent reduction In the price of all cereals, and also to the slightly less activo
business conditions of the country, resulting In exporters being more anxthat \he earnIngsDo f KtCh ^ foreI« n, markets, freight conditions Improved, so
tnat tne eainmgs of the year, although far from satisfactory showed an
pZ1?cVcm arc morerCnPcrour°a^ng.Car3'
AS th'S condtt,on Btm obtains, tho
tlo^h^s becan sof CTea?e^nn.dti?ackllJff' ? ? us? P rodu<’ts for dom estic consum pn n i v a 'limited si^nin1,
cost ° / fc« i for cattle so high, that there was
Pn uliMnns the h
e
th,c „cxp0.rt market, hut with the Improved crop
Ilf
ciass ot live stock became more plentiful, and the ex
products Increased, and the outlook for tho
shipment or cattle Is more promising.
The passenger and freight trade between Great Britain and Canada Is
developing so satlstactorlly that your directors decided to place thc stcam 8ki P u1eJ.lto n m n
8 scrvlce, having entirely rclltted her for this trade
season8b y The M
th° PfSCCnt m ° nth' an<l W,U
T H E C H R O N IC L E
J u n e 2 4 1 9 1 1 .]
Tho steamship Arabtc has com pleted her seventh annual cruise to tho
Mediterranean and the Holy Land, and arrangements have beeni made: {et
her to make a similar cruise under charter, leaving New Y ork In F eb. 1912.
Because ot the attractions o f short cruises to the W est Indies and Panama
Canal, the American Line steamship New York was placed In this trade for
two voyages during the past winter, and It has been decided to carry out
similar cruises In the com ing winter. The trade conditions between Great
Britain and Australia and New Zealand, and between the United States
and Australia and New Zealand, have steadily Im proved, resulting in your
companies being able to Increase their tonnage In these trades, to tho ma
terial benefit of your earnings.
.
Chelsea P iers.— The City of New York having com pleted during the early
part of 1910 the new piers in the Chelsea District o f the North River, Just
south of 23d S t., the com pany leased live of these piers, surrendering the
old piers to the city, and all the terminal business o f your steamers In this
port was concentrated at the new piers.
E A R N IN G S , E X P E N S E S , CHARGES, &C.
1908.
1910.
1909.
$
5
Gross voyage ea rn in g s.. 36,848,284 33,461,485 29,981,044
548,704
491,723
MIsccl. earns., d lv s .,& c. 1,225,312
1907.
S
38,253,588
1,013,000
Total receipts_______ 38,073,596 33,953,208 30,529,748 39,266,588
Gross oper. & gen. e x p ..*29,775,390 *29.257,754 *29,653,891 *32,242,543
Net earnings..........—
Deduct—
Interest on b on d s______
In t. on loans, & c______
English Income t a x ____
In t. on adv. for constr.
new ships____________
8,298,206
4,695,454
875,857
7,024,045
3,895,043
74,120
51,570
3,692,121
91,884
86,574
3,452,484
109,015
89,631
3,398,713
36.339
53,945
44,373
T otal deductions____ 4,021.633
3,870,570
3,695,503
3,488,997
B alance______________ sur.4,276,573 sur.824,874dcf.2,819,646sur.3,535,048
A dd surp. Ins. a c c o u n t..
573,007
357,461
1,062,344
441,661
57,021
27,319
P rof, purch.bds. f o r s . f ................- ............................
Balance for yea r____sur.4,840.580sur.l,182.335def.l,729.983sur.4,033,731
* Includes $1,179,339 for “ overhauls, lay-up expenses and betterm ents”
In 1910, against $1,076,665 In 1909, $1,247,934 in 1908 and $ 1,208.681 In 07
C O N SO LID A TE D B A L A N C E SH E E T DEC. ill— C O M PR ISIN G A M E R I
C A N , R E D S T A R , W H IT E S T A R , D O M IN IO N A N D
.................
A T L A N T IC T R A N SP O R T L IN E S .
1909.
1910.
1910.
1909.
S
Liabilities—
S
Assets—
S
$
51,730,971 51,730,971
Cost of property 184,078,261 178,911,609
49,931,735 49,931,735
Investments—
18,718,000 18,966,000
F.Leyland&Co. 11,965,177 11,965,177
433,805 4H % M. & coll.
Nat.SS.Co.,Ltd.
434,403
trust bonds__ 52.744,000 52,744.000
Sundry ship &
Deb. bonds conallied co’scxch.
stit. cos. held
members’ ps &
6,677,635
604,856 by public------- 6,615,312
Gov’t deposits 2,040,658
457,252
474,183
887,908 Loans on mtges.
Inventories----938,334
1,621,603 Loans, bills pay
Aco’ ts rccelv’le. 1,483,033
3,785,280
3,970,467
able,
&c..........
325,850
Bills rec. & loans
573,988
3,786,395
6,266 Acc’ts payable. 3,604,460
Int. rec. & accr.
9,690
214,007
144,925
318,367 Agency balances
Agency balances
236.224
998,895
Interest accrued 1,008,189
Market,stocks &
598,609 Reserves—
bonds
........
545,710
For liab.,lnsur.
Cash in banks,on
3,695,535 claims & for outthand & in transit 1,575,022
standing Dom.
Open voy. acc’ts.
346,872
530,050
Line shares__
charges & uncx1,232,428 Deferred credits
plrcd insurance 1,158.544
2,123,818
to profit & lossi 1,871,650
Improv’ts, bet1,665,586
150,825 Insurance fund. 1,672,767
torments, & c ..
73,391
9,037,067
494,348 Deprec’n fun d.. 12,231,265
Dlsc’t on bonds.
217,000
62,098
43,807
1,297,355 Miscellaneous . . .
D eficit..................................
«48,585
Surplus_______.
.205,329,435 202,544.543
T o ta l............ 205,329,435 202,544,543
a A fter deducting $3,503,640 for depreciation on steamships, the first
appropriation for that purpose since 1907, when $4,000,000 was so approp d.
— V . 92, p . 191.
New England Telephone & Telegraph Co., Boston.
(Report for Fiscal Year ending Dec. 31 1910.)
President Jasper N . Keller, Boston, May 1 1911, writes
in substance:
Total Number S tations— New England T . & T . Co. Dec. 31 1910, ex
change, 293,795. private line 5,307: Southern Mass. Telephone C o., ex
change 27,740. private line 197: sub-licensees associated and connected
companies. 54,983; total of all 382,022.
W ire M ileage.— New Eng. T . & T . Co. and Southern Mass. Telephone Co..
Underground,442,166: subm arine,1,449: aerial.290,589: total miles,734,204.
Rates— Plan o f Commission.— On Aug. 23 the Massachusetts Highway
Commission, after four years’ Investigation, recommended to the com pany
tho adoption ot a plan and schedule of rates for the Boston and Suburban
division
In reply the com pany announced Its decision to give the ent.re
plan a com plete and Impartial trial, but on the assumption that Its action
was without prejudice and that experience might show the necessity for
modifications or readjustments. The Increase In force, the changes n
methods and the extensive construction involved made tho year mainly
preparatory, and, with certain modlllcatlons approved by the commission,
deferred the'com plete enforcement of the plan to N ov. 1912 (V . 91, p. 592).
Requirements for 1911.— The estimated appropriations for 1911. including
both the com pany and the Southern Mass. Telephone C o., aggregate $8,
400,000, namely, for new construction and real estate, $4,000,000, and for
repairs and depreciation, $4,400,000.
O PE R AT IO N S A N D F IS C A L R E SU LT S.
On Dec 31—
1010.
1909.
1908
1907.
1906.
1905.
Miles o f exchange wire
734,204 443,578 432,959 418,068 375,126 305,221
Exchange stations
293,795 263,583 241,598 227,861 205,184 166,583
Private line s ta tio n s..
5.307 5,716
6,087
6,866
7,293
7.163
Sub-licensee station s.
*83,920 *67.722 *57,301 *54,769 *43,099 18,373
Total stations_______ *382.022*337,021 *304,986*289,496*255,576 192,099
* In these cases the “ associated” as well as the "sub-licensee” companies
arc Included.
R E C E IPTS A N D E X P E N S E S .
Revenue—
1910.
1909.
1908.
1907.
Exchange service
. . $9,015,965 $8,896,874 $8,160,158 $7,668,600
Toll s e r v i c e . ..............
3,233,984
2,845.140
2,501,190
2,512,345
M iscellaneous__________
5,159
67.144
141.133
178.012
Messenger ea rn in gs____
*
43,625
49,948
55,400
Real estate revenue. . . .
*
*
122,563
86,652
Interest and dividends.
316,601
234,000
224,138
178,617
T o t a l ________________ $13,171,709 $12,086,783 $11,259,130 $10,679,626
Expenses—
Operation_______________ $4,956,860 $4,547,8651
Repairs and depreciation 4,131,366
3,522,446) $8,312,139 $8,007,417
Taxes ...............................
770,681
644.250J
Messenger expense-------*
45,307
55,348
59,098
Real estate expense____
*
*
70,293
86,424
In te rest.............................
118,808
142.966
254,930
360,484
T otal
$9,977,715 $8,902,834 $8,698,717
Net r e v e n u e '''.
............ $3,193,994
$3,183,949 $2,560,413
Dividends ( 6 % ) ......... ... 2.350,686
2,191,860 2,070,842
Balance, surplus.........
$843,308
• Merged with other accounts.
$992,083
$483,571
..........................
$8,513,423
$2,166,203
1,872,817
$293,380
1699
BA LA N CE SH EET DEC.
Amf*—
1910.
$
1909.
$
Prop. & f ranch. 1*39,853,347/34,079,259
Construction . . /
\ 1,665,060
Supply department 1,859,782 1,615,936
Real estate........... 1,949,573 1,561,489
Stocks and bonds. 2,320,532 2,338,852
Notes & accts. rec. 4,148,999 4,243,720
Prepaid ins., & c ..
27,888
28,124
Cash ..................... 2,717,931 2,109,596
31.
1910.
1909.B
Liabilities—
$
S*"*’*
Capital stock___ 139,178,100/37,437.800
Cap. stk. install’! /
1
29,000
Surplus ................ j/3,450,553 &2.807.244
Bonded debt......... 2,505.000 2,505,000
N otts* accts. pay.
571,603
835,595
Inventory adjust’tgl,640,156 -----------Reserve for depr’n 4,462,7331
Accident and other
1 4,027,397
reserves_______ 1,069,907.1
T o t a l................ 52,878.052 47,642,036
T o ta l.................52,878,052 47,642,036
x During the year 1910, the com pany’s records o f construction have been
Increased b y amounts shown necessary b y Inventory made under the direc
tion of the Massachusetts H ighway Commission, and a balance account
has been added among the liability accounts under the title of “ Inventory
adjustm ent.”
.
D After deducting $200,000 yearly for depreciation of stocks and bon d s.
— V . 91, p . 592
United Shoe Machinery Co., Boston.
(R e p o r t f o r F i s c a l
Y e a r e n d in g F e b .
28 1911.)
President Sidney W . Winslow says in substance:
General R esu lts— The past fiscal year has shown a continued im provem ent
in the business of the com pany and o f the foreign com panies in which the
com pany Is Interested. The factory at Beverly has turned out a greater
number o f machines than during any other period of equal length. The
number of machines on lease in the U . S. on March 1 1911 was 90,276, an
increase for the year of 11.82 % . During the year the com pany brought in
from shoe factories over 4,000 o f Its machines which were scrapped in order
that they might be replaced with machines em bodying the latest Improve
ments— an expense which the com pany assumes under Its present system
of doing business, but which would otherwise have to be borne b y the
shoe manufacturers.
.
Additions, &c.— The Beverly plant with the additions constructed during
the year and those now under con tract will have a floor space o f 21 acres,
as against 17 acres a year ago. A bou t 5,000 hands are now em ployed at the
factory, and the average weekly pay-roll is over $75,000.
The com pany has continued Its liberal expenditures for the Im provement
of existing machines and the developm ent and purchase of new Inventions,
so that it is now In a better position than ever before to furnish shoe manu
facturers with the latest and m ost Improved machines. In pursuance o f
this policy it has acquired inventions and patents form erly controlled b y
Thomas G. Plant. In acquiring these patents it became necessary to pur
chase a m ajority of the stock of the Thom as G . Plant C o., manufacturers o f
shoes. The Corporation Intends to retain this stock only until it can be
disposed of advantageously(V . 91. p. 965, 878; V . 92, p. 193).
Iloualties Received.— The am ounts received per pair of shoes for the use
o f all the principal royalty machines furnished by this com pany for the
manufacture of different classes of shoes are substantially as follows:
Goodyear W elts, men’s ____$0.05694 IChildren’s Goodyear t u r n .. $0,005
Goodyear W elts, w om en’s . . 0.04694 M en’s and w om en’s M c K a y . 0.01746
Goodyear turn, wom .& m lss. 0.01972 |Children’s M cK ay shoes------ 0.01391
From the royalties should be deducted the amounts which are to be In
vested In stock of the corporation and given to lessees under the terms o f a
circular letter dated June 10 1910 (V . 90, p. 1618) .
The foregoing royalties substantially cover everything which the com pany
receives for the use of Its principal machines. In return the com pany
assumes the whole cost of Invention, developm ent, m anufacture and depre
ciation of machines, care o f the machines, &c.
,
The com pany now makes over 300 different machines, some of which arc
leased to manufacturers, m any o f which are sold outright, and m ost of
which can be either leased or purchased as the shoe m anufacturer m ay
prefer. In constructing a Goodyear welt shoe, the highest typ e now gener
ally worn, the Indispensable machines which the com pany supplies exclus
ively are the Goodyear welting machine and the Goodyear stitching ma
chine. These are the machines by which the sole and the upper are
sewed together after the manner In which they would be sewed by hand.
The Metallic machines, which insert slugs, nails and wire In heels or soles,
are placed In factories by the com pany without charge to the shoe manu
facturer. The com pany furnishes the Goodyear welter and stitcher and
over 20 auxiliary machines for a royalty of substantially 4 cents per pair of
shoes in the manufacture of men’s G oodyear welts and 3 cents per pair In
the manufacture of w om en’s Goodyear welts. As the com pany receives
no profit from the use o f the auxiliary machines, it of course expects the
shoe manufacturer to use them only In connection with Its welter and
stitcher; but the shoe m anufacturer Is not obliged to take them , and if ne
finds machines m ore to his liking for doing the work of the auxiliary ma
chines, he can get those machines wherever he chooses.
Stockholders.— 1T he corporation now has 7,106 Individual stockholders.
The par value ot the average holding In com m on stock Is $6,645; pref. $2,206,
Machines Out on Lease March 1 and Increase for Ysar.
1911.
1910.
1909.
1908.
1907.
1906.
1905.
Total number................90.276 80.734 70.353 65.509 57,777 48,900 42,136
Increase......................... 9.542 10.381 4,844
7,732
8,877
6,764 8,031
PROFIT AN D LOSS ACCOUNT OF HOLDING CO. ( UNITED
MACHINERY CORPORATION).
1910-11.
1910-11.
1909-10.
Bal. sur. for ycar.S2,125,976
Earns, for year &
Previous balance. 6.124,754
Inc. In value of
stk. of oth.corps.S5,780,107 $5,640,468
T o t a l.................$8,250,730
Cash dividends__ 3,654,131 2,941,445
10% stock dlv. on
com. stock......... 2.463,133
Bal..sur. for yr.$2,125,976 $2,699,023
SHOE
1909-10.
S2,699,023
5,664,976
$8,363,999
2,239,245
Total surplus...$5.787,597 $6,124,754
INCOME ACCOUNT OF OPERATING CO. ( UNITED SHOE MACHINERY CO.)
1909-10.
1909-10.
1910-11.
1909-10.
Earnings for year.$5,772,143 $5,640,522 Bal., sur. for year.$2,127,778 $2,627,134
Cash dividends__ 3.644,365 3,013,388 Previous surplus..18.542.022 15,914,888
Balance, surp ..$2,127,778 $2,627,134
.$20,669,800518.542.022
BALANCE SHEET OF UNITED SHOE MACHINERY CORP. MARCH 1.
1911.
1910.
1911.
1910.
Liabilities—
8
5
Resources—
$
S
Cash ___________ 1,374,978 1,379,281 Common stock___28,599,434 24,635,589
Preferred s to c k ... 9,515,400 9,490,050
Stock In other cor
porations .-..*44.027.452*38,871,112 Reserve _________ 1,500,000
Surplus................. 5.787.596 6,124.754
T o t a l................ 45,402,430 40,250,393
T o t a l................. 45.402,430 40,250,393
* Represents stock of Shoe Machinery Co. carried on the books of the Corporation
at $25 per share for preferred stock and $72 50 per share for common In the late year,
compared with $25 per share for preferred and $67 60 per share for common stock
In the previous year.
BALANCE SHEET OF UNITED SHOE MACHINERY CO. MARCH 1.
1911.
1910.
1911.
1910.
Liabilities—
S
$
Assets—
S
S
Real estate.......... 2.025.185 1,901,667 Common stock__ 10,878,935 10,878,935
Machinery _____ 2,032.416 1,812.132 Preferred stock__ 9,971,584 9,971,584
411,880
402,615
Stock In process.. 6,985.299 6,126,066 Acc’ts payable...
Cash & debts re c.. 7,581.252 10,438.771 Surplus...... ............20.669,800 18.542.022
296,870
Patent rights____
400,000
400,000 Machinery reserve 325,830
Leased mach.. stk.
&
bds. of oth.cos23.228,744 19,408,230
Miscellaneous----5,133
5.160
T o t a l.................42.258,029 40,092,026
—V. 92, p. 668, 193.
T o t a l................ 42,258,029 40.092.026
1700
THE CHRONICLE
GENERAL
IN V E S T M E N T
NEW S,
R A IL R O A D S , IN C LU D IN G ELECTRIC RO AD S.
■Abilene & Southern R y .— Application to Issue Bonds.—
the company on June 16 applied to the Texas State Railroad
for leave to register SI,700,000 bonds and
S70,000 stock on 54 miles completed, Abilene to Ballinger.
AbUciic’ Tex**11 'Ioncs: S ec" Treas- anil A u d ., W . E. Kauffm an.
Office.
American Cities Railway & Light Co.— Sale to New Ameri
can Cities' Co.— The stockholders will vote on June 28 on
the following propositions:
( b T o sell to the American Cities Co. (a New Jersey corporation) all the
property and assets as an entirety, together with approxim ately S I ,500 000
a.nd l.? acc«P* In paym ent $10,000,000 8-year collateral
trust bonds of the American Cities Co. to be Issued under and secured bv a
trust agreement or Indenture containing- such terms and stipulations as
m ay be approved by the board of directors of this com p a n y also $0 97G 750
com m on and $6,476,750 pref. stock of the American Cities Co , which will
h r? '
more than two-thirds of stock of New Orleans R y. & Lt. Co
A? outhm lze the sale of all the bonds and stocks of the American
nrnvfrio s'i
f 2r such„sl'™ of money as shall be sufficient to
■nmrnnv ,n 50’ 2 ?0, to discharge aU debts and pay off the pref. stock of the
upon dissolution thereof at par and accrued dividend, and to pay
th-; com m on stock of the com pany at 75 and accrued dividend at the
late of ai 0 per annum and to authorize the ilrm of Isidore Newman & Son
t0 be Interested in the purchase of any part of said bonds and stocks
,,
, i 0 consider the com pensation and commission to Isidore Newman &
e>on (of which J. K . Newman, President and director of this com pany is a
member) to be paid by the purchasers.
Pres. ,J. K . Newman says: “ The similarity of names does not mean chore is
a a X £ ? nneo! on J o ^ c c n the two companies —they are separate and di stinct.
f°F a sPecIal meeting of the stockholders of the American
Cities R y . & Light Co. refers to the paym ent for the assets In securities,
but an Immediate sale will be made of these securities, so that the stock{jp tlers o f the American Cities R y . & Light Co. will receive par and accrued
pVr^2niC n c? s 3 for the pref. stock and 75 and accrued dividend at the rate
or o % in cash for the com m on stock. Paym ent is made in securities for
legal expediency and the securities are immediately sold for cash. P ay
ment in cash will follow as soon as the necessary details for the transfer
can be com pleted, probably about July 15.— V . 92, p. 1 134, 1373.
Atchison Topeka & Santa Fe Ry.-—Syndicate Closed —
[V O L . LX X X X I I .
Boonville St. Louis & Southern R y .— Reported Sate.— See
Missouri Pacific R y . below.— V. 89, p. 284.
Boston & Maine R R .— Sale of ’Stock Authorized.— The
Massachusetts Railroad Commissioners on June 22 authorized
the company to sell at public auction $227,300 of unsub
scribed common stock at not less than par
Compare
V. 92, p. 1635, 1563.
1
1
Bruce Mines & Algoma R y .— Sold.— A Canadian paper says
This road has been sold to MeCallum and Henry A op leton. two capitalists
with large financial Interests in Michigan. The W dellty W r t (to o f Mcfntreal will act as liscal agent.; of the reorganized road, and will handle the
underwriting o f the $5,000,009 bond Issue which Is to be lloate t
The road
has already been constructed from Bruce Mines to R ock Lake and It Is*
planned to extend the line some 350 miles to connect with the Grand Trunk
Pacific west o f Cochrane.— V. 76, p. 70 1.
ul k
Canadian Pacific R y .— Listed.— The London Stock E x
change on or about June 7 listed a further issue of £ 1 ,2 3 2 200
4 % perpetual consol, deb. stock and £1 00 ,0 00 4 % non-cum.
preference stock, making the total amounts thereof on the
list£ 2 9 ,2 2 5 ,4 2 8 a n d £ ll,4 2 8 ,0 8 2 respectively.— V .92, p . 1563 .
Carolina Clinchfield & Ohio R y .— Rumored Lease.— It is
widely reported that a lease of the Carolina Clinchfield &
Ohio is being considered by the Chesapeake & Ohio and Sea
board Air Line. The combined roads would give a through
route from the Atlantic seaboard to Chicago.— V . 92, p . 321.
Chesapeake & Ohio R y .— Favorable Decision as to Hocking
Control.— See Hocking Valley R y. below.— V. 92, p. 1242.
Chicago & Alton R R .-lV o Action on Preferred Dividend.__
No action on the dividend on the 4 % non-cumulativo pref.
stock, it is stated, is likely to be taken until after July 1
The semi-annual dividend, if declared, will be payable about
July 15.— V. 92, p . 1635, 394.
Chicago Burlington & Quincy R R .— Bonds Called.— Two
hundred and forty-six Burlington & Missouri River R R . in
The syndicate headed by J. P. Morgan & Co. which under Nebraska consolidated M. 6 % bonds due July 1 1918, of
wrote the $43,680,000 4% bonds offered to the shareholders $1,000 each, and 49 of $600 each have been called for pay
in April 1910 has, it is stated, been closed, all the bonds ment on July 1 at par and interest at the New England Trust
having been sold.— V. 92, p . 1563, 1498.
Co., Boston, trustee.— V. 92, p. 1635, 1435.
A civ Line Opened. Ihe company on June 15 opened for
Chicago Indianapolis & Louisville R y .— Maturing Bonds—
operation a link of the Coleman-Texico cut-off, giving its
gull division a connection with the new trans-continental Option.— Notice is given that the Louisville New Albany &
line via Amarillo, Tex.
Chicago Ry. Company’s $2,300,000 Chic. & Indianap. Div.
T ^ f i n i f J 11! 1 opened runs between Sweetwater and Mesa, about 125 miles,
m e link of the cut-off from Coleman to Sweetwater, about 125 miles has
;,Jk2U. c,°.A*p 1v ,0(I sc.Y,e2al .months and that between La Mesa and Te'xleo,
about 125 miles will be b y N ov. 1. Until that time through trains will be
operated between Amarillo and Coleman, connection being made with the
Cult division at this place, affording the Texas Panhandle, Western Kansas,
Colorado and New Mexico a direct railway outlet to Galveston and other
points on tne Gulf coast.— V . 92, p. 1563, 1498.
Atlanta Birmingham & Atlantic R R .— Extension of Re
ceiver’s Certificates.— Clark, Dodge & Co. and White, Weld
& Co. announced on Monday that, subject to the approval
of the Court, they had arranged with the general protective
committee to extend or refund for one year the $3,250,000
receiver’s certificates of the system due July 1. Present
holders will be offered either cash or a one-year renewal of
the obligation. Compare V. 92, p. 116, 1563.
Atlantic Shore (Electric) R y ., Mai n o — Reorganized Com
p a n y— The reorganization of the Atlantic Shore Line lly
Co. (foreclosed) was completed some time since under title
of “ Atlantic Shore Railway,” per plan in V. 91, p. 869.
Report 0/ Atlantic Shore Line (Old Company) for 12 Months ending .June 30
Gross
Operating
Net
A ll
Interest Balance
Year—
Earns.
Expenses. Earns.
Taxes. & rent'ls
Deficit
1909-10. ........ $353,360 $265,060 $88,306 $5,011 8117,911
861 016
1908-09. ------- 354,250
217,796 106,451
4,671
129.785 28 005
: Officers.— Pres., John F . Hill; V .-P res., Louis I). Goodall; Treas , F O
Conant; Asst. T rcas., S. T . Dow; A u d ., J. VV. Leavitt; Gen Min- t. ’ h '
M cCray.— V . 92, p. 460.
Bartlett-Florence R y .— Sale Confirmed— Judge Wilcox at
Georgetown, Tex., on June 12 confirmed the sale of the road
on May 29 for $41,000 to J. L. Bailey, C. J. Gardner, J. W.
Jackson and others. It is said the road will be extended
from Jarrell to Florence and from Bartlett to Rockdale.
Successor.— See
Bartlett
p. 1498, 880.
Western
liy
b elow __ V
'
92
'
’
Bartlett Western R y . — New Company.— The company was
incorp. in Tex. on June 17 with $41,000 cap. stock, as succes
sors of the Bartlett-Florence R y., foreclosed. Officers arc:
J.
Pres., J. W . Jackson; 1st V .-P . & Gen. M gr.. C. J. Grainger; 2d V .-P .,
L. Bailey; S ec., W . W . W alton; Treas., C. C. Bailey.
Belt Railroad & Stock Yards Co. of Indianapolis.— New
Stock— 50% Stock Dividend.— This company filed on June 14
a certificate of increase of common stock from $1,000,000 to
$2,000,000. It is proposed that one-half of such increase
shall be allotted “ to the present holders of the common stock
in proportion to the number of shares severally held by each,
as a distribution or dividend, of a like amount of the surplus
assets.
The remainder will be sold from time to time to
provide for improvements and additions.
TnH,1?? allrrCratrru^nrewSaIn,!5l
Rauh <P r c s >- John H . H olliday (Sec.)
i
5uVVr' *\rCGJVlrlc- g - A- Schnull, Charles Minshall, Francis
r . H olliday and W . J. H olliday. Compare V . 92, p. 1242.
Bingham & Garfield R y ._ S e e Utah Copper Co. V 92,
p. 1372, and compare V. 90, p. 1683.— V. 91, p. 654, 716.
Birmingham & Southeastern R y .— Neiv Mortgage.— The
company, which recently changed its name from Union
Springs & Northern R y., has arranged to make a new mtge.
for $3,000,000 for the extension of the road.
The com pany has at present a m ortgage to secure an Issue of $1.000,000
bonds, of which $7o,000 w oie at last accounts outstanding. The road
extends from Union Springs to Fort Davis, A la ., 7 u miles, an extension
from I-ort Davis to R ockford , 58 miles, having been proposed, of which 20
miles to Millstead has been for some time m ostly com pleted.— V. 924, p. 124.
1st M. 6 % bonds, dated 1881 and due Aug. 1, 1911, will be
redeemed on that date at the Central Trust Co., N. Y
Potter, Choate & Prentice, 55 Wall St., N . Y ., and the
first I rust & Savings Bank, Chicago, referring to the abovementioned notice, announce that they have purchased the
$2,300,000 Chic. Indianap. & Louisv. Ry. Co. refunding(now
first) mtge. 4 % gold bonds, due July 1 1947, which were
leservcd to retire the above bonds, and are now prepared
to take the maturing 6 % bonds to a limited extent on a 3 %
basis in exchange for the refunding (now first) mtge. bonds at
943^2 and int., yielding over 4 .3 0 % . See also V. 92, p.
1031; V . 91, p. 1095.
1
Chicago & North Western R y . — Neiv Station at Chicago~
The “ Railway Age Gazette” of New York on June 9 had an
illustrated article regarding the new passenger terminal which
the company opened to the public on June 4. The approxi
mate cost is stated as follows: Heal estate and legal expenses,
$11,560,000; station building and train shed, $6,380,000;
power station building and equipment, $810,000- elevated
approaches, $5,000,000; total, $2 3 ,7 5 0 ,0 0 0 .— V . 92, p . 1035.
Chicago Southern R y .— Sale of Collateral.— The $ 1 1 ,1)0(4,000 Southern Indiana Ry. common stock deposited under
C i t i z e n s ’ R a i l w a y & L i g h t C o . , F o r t W o r t h , T o x . — Receiv
er’s Sale July 1.— Receiver John W . Davis announces that
the property of the company will be offered for sale in parcels
on July 1. A press dispatch says:
Tills property includes the Rosen Heights and Arlington Heights street
•allway lines; an electric power plant, which does a considerable lighting
msiness; also a tract of land at Lake Como and the lake itself, but not the
Ulilrllnira ciiri'nnnrlinrv If -V
\T. 92.
tl •> ..
oi n
p. l1310.
C l e v e l a n d C i n c i n n a t i C h i c a g o & S t . L o u i s R y .— Bonds Of
fered.— Guaranty Trust Co. New York offers at 97 %, and int.
the unsold part of $10,000,000 20-year J}/>% gold debentures
of 1911 dated Jan. 1 1911, due Jan. 1 1931, interest payable
Jan. I and July 1 in New York (denomination $1,000 c*& r*).
The debentures are part of a $20,000,000 issue authorized in
May 1910, of which $9,650,181, payable in francs, were
sold to French bankers. Application will be made to list
the debentures on the New York Stock Exchange. A cir
cular says:
The Indenture under which the debentures are Issued provides that so
long as they are outstanding the com pany will not make any new mortgage
on Its road, other than on leased lines, without Including such debentures
equally and ratably with every bond or debenture secured by such mort
gage. This provision, of course, docs not apply to the renewal or extension
or existing mortgages. To the extent of $5,000,000, the proceeds or sale or
the debentures will be used to reimburse the treasury tor the payment
and retirement ot the com pany’s 4-year notes ot that amount, which ma
tured June 1. The balance ot the proceeds will be used largely In Improving
the terminal facilities of the com pany, which during the past two years
have been found inadequate to handle the business, resulting In almost con
tinuous congestion and adding very greatly to the expense of operation
as well as limiting the volume of traffic that could he m oved, q'he net
corporate Income of the com pany for the year ending Dec. 31 1910, above
operating expenses, taxes, rentals and all Interest charges (Including the an
nual Interest on the above-m entioned $5,000,000 notes paid June 1) was
$1,475,497. The Increased interest charges due to the Issue of the $10 000,000 of debentures Is only $200,000.— V. 92, p. 1310, 807.
’
C le v e la n d & M a r ie t t a R y . —
Merger— See Toledo Columbus
Ohio River Ry. below.— V. 88, p. 52.
J u n e 21 1 9 1 1 . )
THE
C H R O N IC L E
Cleveland Underground Rapid Transit R R .— Increase of
Stock.— The company lias filed with the Secretary of State of
Ohio a certificate of increase of capital stock from $10,000
to $3,500,000, $2,000,000 to be common stock and $1,500,000
6 % preferred.— V . 92, p. 1031.
Colorado Midland R y .— New President.— George W . Vallery, formerly Gen. Mgr., has been elected President to
succeed A . D . Parker, resigned.— V . 92, p. 447.
Colorado Railway, Light & Power Co., Trinidad, Col.—
Foreclosure.— The Central Trust Co., as trustee under the
first mortgage, on June 13 brought suit in the United States
Circuit Court at Denver, Col., to foreclose the same, the
interest being in default. There are $1,864,000 bonds out
standing.— V . 92, p. 1178, 460.
Delaware & Eastern R R .— Foreclosure Sale.— Judge
Hough in the U . S. Circuit Court on June 16 ordered the sale
of the road on Aug. 11 at Margaretville, N . Y ., under the
mortgage of 1906 for $1,000,000.
The Court denied thc.appllcatlon of Russell Murray, a bondholder (which
was made In the Interest of the reorganization com m ittee as the holder of
00% of the bonds), to fix the upset price of the road at $800,000. 'I he
denial Is made, however, without prejudice to Its renewal on presentation
of further facts.— V . 92, p. 881.
Delaware Lackawanna & Western R R .— New Directors.—
Stephen S. Palmer, Pres, of the New Jersey Zinc Co., and
J. F . Talmage, of N. Y ., have been elected directors, to suc
ceed the late Frank Work and Eugene Higgins, who resigned.
— V. 92, p. 655, 523.
Denver Railway Securities Co.— Organization.— On Junel5
this company took over the holdings of the estate of the late
David II. Moffat in the Denver Northwestern & Pacific lt y .,
and now holds, it is stated, securities covering about $1 0 ,
181,818 of the total amount of $14,000,000 heretofore ex
pended on the property.
In order to ensure local (Denver)
control, the stock of the Securities Co. has been placed in
a 7-year voting trust, the voting trustees (Col. D. G. Dodge,
Lawrence Phipps and Joseph C. Helm) to vote the stock as
the board shall direct. Arrangements, it is stated, will be
made to take up the outstanding notes of the Colorado-Utah
Construction Co. and to raise funds to continue construction.
The officers a re: W . G. Evans, Pres.; John F. Campion and Fred. <>.
M olfat, Vice-Presidents; Joseph <:. llelin , Sec.: Samuel M. Perry, Treas.
Directors: Lawrence C. Phipps, John K. Mullen, Henry M. Porter, Charles
ISoettchcr, Col. I). C. Dodge, W . S. IllfT, Gerald Hughes. E xecutive com
m ittee: Messrs. Evans, Iloettcher, Dodge, Hughes and Perry. Sec also
Denver Northwestern & Pacific K y. in V. 92, p. 1810, 1498.
The Securities Company on or about May 31 offered $5,000,000 of Its
$10,000,000 stock to Denver people at $15 a share, par $100, it being
pointed out that "th a t portion of the railroad owned by the Securities Com
pany, nam ely 8 -llt h s o fth cw h o lc, need be sold for only $1,500,000 above
Its Indebtedness to return to the stockholders all that they Invest.” No
plan for the reorganization o f the railroad, and nothing as to the m ethod
by which It Is proposed to construct the road beyond Steam boat Springs
has yet been given out.
Eureka & Palisade R y .— Redeemed by Shareholders.— An
officer of the company, writing from Palisade, June 14, says:
In March 1910 the road suffered severely from washouts and last No
vem ber It was sold under foreclosure sale but before the redemp
tion period of six m onths had expired. It was redeemed In the Inter
ests of the stockholders by Mr. George W hlttell of San Francisco. Mr.
YVhlttcll only recently made an Inspection of the property and as yet the re
organization has not been finally com pleted.— V . 91, p. 1385.
Galveston Harrisburg & San Antonio R y . — Bonds Author
Texas Railroad Commissioners on June 17
authorized the company to register $6,104,000 bonds on the
Galveston-Victoria division. Compare V. 92, p. 1636.
Green Bay Traction Co.— Safe.— See Northern Hydro
Electric Power Co. u n d e r “ Industrials” below. V . 82, p .5 6 8 :
Hocking Valley R y .— Injunction Vacated.— Judge Sater
in the U. S. District Court at Columbus, O ., on June 19
granted the motion of the defendants in the suit brought by
Howard D . Mannington, Secretary of the Ohio Indiana &
Michigan Coal Operators’ Association, and two attorneys of
Columbus to vacate the restraining order preventing the
Chesapeake & Ohio R y. from voting the Hocking Valley
stock. Compare V . 92, p. 1032.
ized.— The
The Court says that "a t a later and m ore convenient date an opinion
will be filed setting forth the reason for Its a ction ." It is expected an appeal
tvlll be taken. Although the case has not been fully tried on the merits,
the decision Is considered as Involving a ruling on the same. Inasmuch as
the facts to a large extent, at least, cam e under the Court’s notice.—
V. 92, p. 1032.
Houston Bolt & Terminal R y .— Bonds Offered.— William
Salomon & Co. of N . Y . and Chicago, and G. II. Walker &
Co. of St. Louis, offer, by advertisement on another page, at
101 and interest, the unsold portion of $2,000,000 1st M.
30-year 5 % sinking fund gold bonds, due July 1 1937.
Auth. issue, $5,000,000; outstanding, incl. present issue,
$4,266,000; retired by sinking fund, $86,000.
Denom.
$1,000 (c*). Entire issue redeemable on July 1 1917, or any
int. date thereafter (Jan. I or July 1) at 105 and accrued int.
Central Trust Co. of New York, trustee. The bankers fur
nish the following summary:
Security arul Guarantee. -S ecu red by a 1st M. on property of com pany
providing sole terminal facilities at Houston for Atchison Topeka & Santa
Fe Chic H I. & P a c.. Chic. Burl. & Quincy and S t. Louis & San Francisco
sys’tcm s, representing a total of over 37,000 miles of road. Interest and
sinking fund (1% annually of bonds Issued) proportionately guaranteed
under a 99-ycar lease by Texas subsidiaries of above system s, viz., Gul
Colorado & Santa Fc lty ., Trinity & Brazos Valley R y ., Beaumont Sou
Lake & Western R y . and St. Louis Brownsville & M exico R y.
I'roporty.— Comprises 173 acres of land, Including a new passenger station
and freight d epot near centre of city , connecting with a belt line railroad
about 10 miles In length, around east side of city . Houston is one of prln
clpal railroad centres of the Southwest, having Increased 77% in population
since 1900.— V. 92, p. 1310, 850.
Interborough-Metropolitan Co.— Notes Again Extended.—
The $2,549,400 collateral trust 6 % notes which were ex
tended in 1908 and 1910 (the last time until July 1 1911)
1701
have been again extended for one year to July 1 1912.—
V . 92, p. 1178, 1108.
Lehigh & Hudson River R y .— Bonds Due July 1.— The
principal of the $800,000 Lehigh & Hudson River 1st M. 5s
and the $145,000 Warwick Valley R It. 1st M. 4}^ s, due
July 1 1911, will be paid at maturity at the Central TrustCo.,
54 Wall S t., N . Y . The July coupons should be presented to
the Irving Nat. Exch. Bank, N . Y ., or the First N at. Bank,
Warwick, N . Y . The company has sold to Drexel & Co., of
Philade hia, $945,000 gen. M. 5 % bonds to provide for the
refunding, increasing the amount of the generals outstanding
to $2,265,000. — V. 92, p. 595.
Lexington & Eastern R y .— $1,000,000 lsf 5s Mature.—
The issue of $1,000,000 1st M. 5s of 1894, due July 1 1911,
will be paid at maturity, together with the July coupon, at
the office of the Louisville & Nashville R R . Co., 71 Broad
way, N . Y . City. Compare V . 91, p. 1447.
Little Rock (Ark.) Railway & Electric Co.— Extra Divi
dend.— A semi-annual dividend of 4 % and also an extra
dividend of 1 % has been declared on the $1,500,000 com
mon stock, payable July 1. The company is controlled by
the American Cities R y. & Light Co.
Previous Dividend Record Common Stock (P er C ent).
1910.
1900.
1907.
1908.
1909.
8
2
4
5
M ch., 1 y%
..
-June,
R e g u la r____________
E x t r a ..... ................. ..
— V . 90, p. 698.
Louisville & Nashville R R .— Payment of $1,000,000 1st M .
5s.— Sec Lex. & Eastern R y. above.— V . 92, p. 1565, 1311.
Metropolitan Street R y ., Kansas City, Mo. and K a n .—
Payments Authorized.— Judge Hook in the U. S. Circuit Court
by order dated June 15 directed the receivers to pay the
principal and interest of obligations of the company, matur
ing this year, amounting to $984,640, from the earnings of
the company, provided it would not unduly hamper the
operation of the road.
These obligations Include: $50,000 Corrigan Street R y . bonds, due July 1
1911; S50.000 and $64,000 interest on $256,000; $300,000 East Side Elec.
R y. bonds, due July 1, and $7,500 Interest, and Interest on $2,600,000 Kan
sas City Elevated R y . bonds, $58,000; Interest on $4,103,000 Met. St. R y
notes, due Aug. 20, $123,090; on $9,242,000 bonds, due N ov. 1, $231,050,
and on $8,200,000 bonds, $205,000, and int. due this month on $120,000
notes Issued Dec. 12 1910 to purchase 25 cars, $3,600.
The Court, In ordering the Interest paid, says: “ Provided that where
such obligation is collateral to the obligation of another the Interest paid
shall not be In excess of the amount necessary to meet Interest upon the
obligations to which they are collateral and m ay be paid directly thereon.”
The purpose of this. It is stated. Is to pay Interest only on the m oney alleged
to have been actually borrowed for the M etropolitan by the Kansas City R y .
& Light Co. and used by It. For Instance, while the Met. St. R y ., Kansas
City El. Light and Cent. Elec. R y. In May 4903 made 6% m tge. notes ag
gregating $10,500,000, which arc deposited under the K . C. R y . & Light
m tge., Interest Is ordered to be paid on only $9,242,000 at 5 % . So also,
while the Metropolitan gave Its 7% notes for $5,500,000, the! nterest ordered
to be paid Is only at the rate o f 6% on $4,103,000.— V . 92, p. 1565.
Missouri Pacific R R .— Purchase.— The company has, it is
stated, purchased the Boonville St. Louis & Southern R y ., a
44-mile line which it has operated under a 99-year lease.—
V . 92, p. 1636, 1436.
Nashville (Tenn.) Railway & Electric Co.— Dividend In
creased.— A quarterly dividend of 1 % has been declared on
the $4,000,000 common stock, payable July 1 to holders of
record June 19, comparing with % of 1 % since Jan. 1910, the
first distribution of 1 % having been made in July 1909.
Northwestern Elevated R R ., Chicago.— Netv Bonds for
Use as Collateral.— The shareholders will vote Aug. 21 on
authorizing the issue of $25,000,000 1st M. 5 % mortgage
bonds, which will be used as part collateral for the $30,00 0,
000 3-year 5 % notes of the new Chicago Elevated Rys. See
V. 92, p. 1563, 1498.— V . 92, p. 1436, 262.
Pensacola Mobile & New Orleans Ry .— Details of Mort
gage.— The company’s mortgage to the Knickerbocker Trust
Co., trustee, is made to secure an authorized issue of $750,000
1st M. 20-year 5 % $1,000 bonds, dated May 1 1911 at $10,
000 per mile.
Interest payable M. & N. at office of trustee. Bonds are not subject to
call. W e are informed “ 25 miles are now In operation, all grading about
finished, track-laying now going o n —connection at Mobile will be m ade
before end of year.” Stock authorized, $750,000; par $100. Pres., Ellw ood McLaughlin; Sec. and Treas., J. B. Hall.— V . 92, p. 1566.
Philadelphia Baltimore & Washington R R .— Maturing
Bonds.— The $1,500,000 1st M. (tunnel) 6s issued in 1871 by
the Baltimore & Potomac R R . and due July 1 1911 will be
paid at maturity at the Broad St. Station, Phila., or at 85
Cedar S t., N . Y . The July coupon should be presented to
the Mechanics Nat. Bank of Baltimore for payment. Com
pare V. 92, p. 1437.
Philadelphia Company, Pittsburgh.— Two Extra Dividends
of Y % Each.— The directors on June 6 declared the regular
quarterly dividend of 1 YYZo on the ($38,735,000) common
stock, payable Aug. 1 1911 to stockholders of record July 1
1911. On June 17 the board also declared an extra dividend
of ^ of 1 % on the common stock, payable on Aug. 1 1911
to stockholders of record July 1 1911, and an extra dividend
of Y of 1 % on the common stock, payable on N ov. 1 1911
to stockholders of record Oct. 2 1911. Compare V . 92,
p. 1307, 1319.
Rapid Transit in New York City.— Report of Special
Transit Committee Adopted.— The Board of Estimate on
June 21 unanimously approved the McAneny report on new
subway and elevated lines presented on June 13 (V . 92,
p . 1637) with several amendments, the most important
being indicated below. The Interborough and Brooklyn
Rapid Transit companies are given until June 28 to accept
I or reject the city's offer.
1102
THE CHRONICLE
The Interborough R apid Transit Co. Is required to consent to the Immedl
ate m odification of contracts 1 and 2 so as to provide that the portion of
the existing subway between 42d S t.. Manhattan, and Atlantlo A v e ., Brook
^ n . shall be held under an Indeterminate lease, terminable at any time
within 10 years from the opening of the proposed Seventh A ve. (Manhattan)
extension, receiving as consideration for such m odification a lease on the
on ^rorn 42(1 S t., south, to Borough Hall, Brook
^y n ’ f ° r„4? years from Its com pletion and opening for operation. This Is
t0 ePabi ? tbe city to have a continuous north and south line,
new lease for the present subway south of 42d St. Is to provide that
exercise of the option of the city to terminate the same. Its value
ana tnat or the lease of the proposed Seventh A ve. extension shall be
appraised on the basis of their respective earning capacities at the date oi
appraisal, and the difference in value, If any, shall be adjusted by paym ent
b y the proper party.
, The city Is to have the right to have the com p nay assign Its rights to a
third party designated by it; the com pany to co-operate with the city in
procuring any legislation necessary to legalize or carry out any part of the
greement.— V . 92, p. 1G37.
Reading1Company,— Dividends to be Paid Quarterly Begin
ning Next November.— Beginning with the comm n dividend
in November 1911, all three classes of stock— 1st pref., 2d
pref. and common— will, it is announced, be placed on a
quarterly dividend basis instead of semi-annually, as here
tofore. To make proper adjustment there will be paid a
2-months dividend on the 2d pref. in Jan. 1912.— V 92
p. 1437, 1110.
’
Seaboard Air Line R y .— Full Adjtistment Interest.— The
full interest of 2 ^ % on the $24,975,500 adjustment mtge.
income bond (the same as in Feb. last and Aug. 1910) has
been declared for the half-year ended April 30, payable
Aug. 1. The results for the six months ended April 30
showed, after all deductions, incl. a special allowance of
$152,000, as permitted by the m tge., a surplus of $1,075,265
applicable to interest on the adjustment bonds, the full in
terest on the latter amounting to $024,488.
New Director.— Frank A . Vandcrlip, President of the
National City Bank, has been elected a director.— V . 92,
p. 1244, 1179.
Toledo Columbus & Ohio River R y .— Merger of Pennsyl
vania lilt. Subsidiaries.— The shareholders of the Cleveland
& Marietta R R . and the Toledo Walhonding Valley & Ohio
R y . Co., both members of the Pennsylvania system, voted
last week to merge the companies under title of the Toledo
Columbus & Ohio River R y. Articles of incorporation have
been issued by the Secretary of State of Ohio for the new
company, with $12,000,000 stock. The “ Cincinnati Tri
bune” says:
This Is the first step taken b y the Pennsylvania to consolidate all of its
Uhlo lines Into one system , to be known as the middle system . Next in
line Is said to be the consolidation o f the Cleveland Akron & Columbus with
the Cincinnati & Muskingum V alley. As soon as all the small lines arc
consolidated with a larger road the whole will be merged Into the Ohio
ystem of the Pennsyvanla.
Toledo Railways & Light Co.— Status.— Attorney W . W .
Miller of Hornblower, Miller & Potter, says there is no truth
in the report as to an impending receivership. He says:
The com m ittee representing the bondholders Is satisfied with the nego
tiations now being carried on for an adjustment of the franchise question
with the city of Toledo, and confidently expect that the matter will be ad
justed within a com paratively short time. An attem pt to throw the com
pany Into the hands of a receiver at this time w'ould be unwise
A meeting of the bondholders and creditors held In tills city recently was
to make arrangements for the paym ent of the semi-annual interest on the
com p any’s bonds due July 1 and discuss the question of Improvements to
the property for the com ing 6 months.
Since the creditors and bondholders’ protective com m ittee was organized
about 2 'A years ago, It has expended more than S I,000,000 for Improve
ments, and has made arrangements for the expenditure of still further sums
in raising the standard of efficiency of the property to meet the require
ments of the traveling public.
No steps will be taken toward reorganizing the property until the franchlsc Question has been settled. As soon as that matter Is out of the way
a plan will be presented, and It is expected that little trouble will be e x
perienced In putting it through to the entire satisfaction o f all parties con
cerned without throwing the com pany Into the hands of a rcccivcrshln
which would be expensive.— V . 92, p. 597, 590.
rcceiversm p.
Toledo Walhonding Valley & Ohio R y .— Merger.__ See
Toledo Columbus & Ohio River R y. above.— V . 75,' p. 1088.
United Power & Transportation Co., Philadelphia.— Divi
dends Resumed.— A dividend of $1 10 per $25 share has been
declared on the $3,593,750 stock, payable July 1 to holders
of record June 20, being the first distribution since Jan. 30
1908, when $3 31 was paid.— V . 91, p. 590.
United Railways & Electric Co. of Baltimore.— Proposed
Note Issue.— The directors have devised a plan for the making
of an issue of $3,125,000 3-year convertible and collateral 5 %
notes, the proceeds of which will be used to retire: (a) the
$2,500,000 obligations of the Balt. City Pass. R y. Co. due
N ov. 1 1911, namely $2,000,000 1st M. 5 % bonds and
$500,000 4)^2% certfs. of indebtedness. ( b) $535,000 Series
“ B ” and “ C” car trust certfs. outstanding after Oct. 1 1911.
The notes, it is stated, will be secured by deposit of $3,000,000
(or $2,500,000[?]) of United Railways & Electric Co. 1st cons.
4 % bonds. Stockholders will vote on the matter July 5.
The notes will be convertible into common stock at $25 per $50 share at
any t“ !'c before maturity, unless the company shall call the notes at par
n,°VCCl. r !le conversion privilege will continue up to within 5
days of the date of redemption.
The stockholders of the company will be given a preferential right to
notes^sto^ouinhb'rs°wfii iV” 11 notw.lthstandIng over-subscription for the
A*11 '?AC thc rlelu to receive an allotment of $100 of
?i?nrpn?«tnmiinS ?n o S S for cvclT 10 ful1 shares of stock or multiples
^Thr> i n
? u1
')ames on tbc company’s books on an agreed date.
The first cons M will become a first lien upon 50H additional miles of
the most Important trackage in thc United Rys. system through the navment of the Baltimore City Passenger Hens, and thc lien of the Income bonds
will also be advanced upon the same property by the retirement of the CItv
Passenger bonds and car trusts, with thc proceeds of the notes Thc plan
will not increase the company’s annual payments but will actually reduce
them considerably and the surplus fund, therefore, from which the Income
bondholders receive their return, will be proportionately Increased
It alsn
enables the company to market $2,500,000 1st M. 4% bonds when the
same can be advantageously <onc at a time when market pricesSdo not
represent„tho possibility of ajforcedlsale.— V .292.I p ^ l 4 3 7 , 5 1 1 7 6
[VOL. LXXXXI1.
Virginia Anthracite Coal & R y. Co.— Sale June 29 .— The
receivers, Richard H . Smith and W . J. Payne, of Richmond,
announce that the property will be offered for sale on June 29
1911 at Christianburg, V a., by the Commissioners appointed
by^thc^Court in the receivership proceedings. Upset price,
This road is a standard-gauge line about 10 miles in length extending
from Chrlstlansburg Station, on the Norfolk & Western Ity., In Montgomery
County, Va., about 33 miles west of Roanoke to Blacksburg crossing the
Ine of the Virginia Ry about 6 miles from Chirstlansbu^g Thero d run
V\88 p 62y9; V. 79°, p l^ O S
VUglnla Anthracltc Coal Co
Compare
Wabash-Pittsburgh Terminal R y .— Reported Plans.—- The
reorganization plan is,_ we are informed, in preparation, with
prospects of completion at an early date. According to
published statements, the following features have been ten
tatively agreed upon:
An agreement has been reached by the reorganization committees that
will end the long litigation between the two Interests, and bring about the
reorganization and consolidation of the company and the Wheeling & Lake
Eric, probably under the name of the Wheeling & Terminal Ry.
q'he
Wabash RR. is to give up all Its claims against the Terminal line also
$14,000,000 of stock in the Pittsburgh Terminal RR. &, Coal Co., Its holdings
In the West Side RR. and $3,800,000 in consol, mtge. bonds.and In return
receive $1,000,000 adjustment 5% bonds and $3,200,000 non-cum 5%
pref. stock of the new company.
’
The fixed charges of the property will amount to $2,800,000 annually.
•Deluding1 Interest on the adjustment bonds, while the earnings are now
$2,.>00,000, and with the funds to be raised to Improve the road and equip
ment, it Is expected to easily earn $3,500,000, or considerably over the
annual fixed charges.— V. 92, p. 1033, 882.
Washington Potomac & Chesapeake R y .— New Securities.
— This company has applied to the Maryland Public Service
Commission for authority to increase its capital stock from
$500,000 (in $100 shares) to $2,000,000, and its bonded debt
also to $2,000,000, with a view to extending its line (now in
operation front Brandywine to Mechanicsville, M d., a dis
tance of 21 miles) from Brandywine to Benning, in the Dis
trict of Columbia, and from Mechanicsville to Cedar Point,
on Chesapeake Bay, and Point Lookout.
First M °r5^aaiithtl0vm n nrm.rcl1.
ttlc bankruPt Railroad com pany.
W . w L o n o f Phllf iL’ P r e ^ - V . ^ ^ ^ .
? ^ UntS’ 5 100’000’
Hcnry
"Western Maryland R y .— Extension to be Completed by
Aug. 1. 1 he extension from Cumberland, Md., to Conncllsville, Pa., at a connection with the Pittsburgh & Lake Erie,
87 miles, will, it is announced, be laid not later than Aug. 1.
About 2 months later the company expects to operate through trains to
Pittsburgh over the extension and the Pittsburgh & Rake Eric roads. Twothirds of the line has been completed and a great part of the work on the
remaining third has been done.— V. 92, p. 1567, 1437.
W est Jersey & Seashore R R .— Bonds Due July l .— Holders
of the Camden & Atlantic R R . consol. M. $349,000 0 % cou
pon and $650,000 5% registered bonds which mature July 1
| 1 may (a) exchange their bonds for an equal amount of
West Jersey &_Seashore R R . Co. 1st consol. M. 4 % bonds,
series l1, maturing July 1 1936 (c*& r), for a period of 30 days
irom July 1; or (b) the principal of the maturing bonds will
be paid July 1 at Broad St. Sta., Phila.— V. 92, p. 882, 873,
IN D U S T R IA L , GAS A N D M ISCELLANEOUS.
Alabama Consolidated Coal & Iron Co.— Merger.— The
plan of merger with the Southern Iron & Steel Co.' has been
at least practically completed, and it is expected that the
same will be announced as soon as the underwriting has
been arranged. Hayden, Stone & Co., it is expected, will
be the syndicate managers.
The Plan, it Is unofficially stated, provides for the issue of “ $5,000,000 of
6% bonds at par with 5% cash, and 25% of pref. and 25% o f com m on
s
for underwriting.’ 1 the new bonds to be offered to the stockholders
of the Alabama and Southern companies at par with the bonus In stock .__
V. flu* p. 1038, 1438.
Amalgamated Copper Co
Ryan is quoted as saying:
•Status.— President John D .
I think general business conditions have Improved since thc Supreme
Court decisions in the trust cases. There is a greater feeling of security
and confidence throughout the country. If we harvest as good a crop as is
at present indicated, I look for good times the latter part of the year. It
will take big crops and a return of confidence to a greater extent than at
present to bring this about, but prospects on the whole are good.
I’he copper business has been better during the last two months, but the
price of thc metal is still low and many companies are not producing as
much as they would like. A surplus accumulated after the panic of 1007
is being gradually worked o(T, and with a return of business conditions I look
ror better times In the copper industry, with considerably better prices for
thc metal. In the meantime I do not think we are likely to produce more
copper than at present.— V . 92, p. 1587, 1559.
American Cities Co.— Neiv Company.— See American Cities
'aAoqi; <(spiio.ii!.qi„ .iopun ’03 iqSiq sy rCjj
American Seeding Machine Co. — Dividend Increased.— A
quarterly dividend of 1% and 3^ of 1% extra have been de
clared on the $5,000,000 common stock, both payable
July 15 along with the regular \ Yi% quarterly on the pref.
stock, to holders of record June 30, comparing with % of 1 %
quarterly in Jan. last (when distributions were resumed) and
April 1911. Compare V . 91, p. 1031.— V. 92, p. 727.
American Telephone & Telegraph Co., Boston.— New
Stock. The directors on June 20 voted to authorize an issue
of approximately $50,000,000 stock, shareholders of record
June 30 to have the right to subscribe for the same at par on
or before Aug. 31 to the extent of 1 shareo f new for each 5
of old. Subscriptions will be payable in four equal install
ments, Nov. 1 1911, Feb. 1 1912, May 1 1912 and Aug. 1
1912. Part-paid stock will participate in current dividends.
Only 4 % int. will be allowed on pre-payments. On June 20
1911 there was outstanding $274,040,000 stock and there
still remained $23,799,000 convertible bonds, which (prior
to the change of conversion rate to result from the new stock
issue) are exchangeable at option of holder for stock at a price
(for the stock) of $133.7374158.
THE CHRONICLE
J u n e 24 1911.]
O ffic ia l S ta te m e n t a s t o
N ew
S tock
Issu e.
The proceeds of this issue of capital stock will be mainly used to Provide
the associated companies of the Bell system outside of the btate of N cw
York with funds for current and ordinary construction and extension of
nlant. and will be represented in the treasury of the American telephone &
Telegraph Co. b y the share capital or the capital advance notes of such cos.
A part will be used for extensions to plant (long-distance scrvice)of th e
American Telep. & Teleg. Co. outside the State of New York, and a part to
maintain the cash balances now being drawn upon for all the above purposes.
Reference to the annual report for 1910 under head of depreciation
(V . 92, p. 840) sets forth the great advantage and econom y of advance
construction. A dvance construction must be planned and prepared ior,
and the cash provided in advance, if It is to be done in the best and m ost
econom ical w ay.
... . ,
The charges of tills proposed Issue on this year s revenue will be haidiy
appreciable— as a matter of fact, the usual yearly div. on the whole amount
could be met out of this year's revenue and still leave a surplus.
The business of the current 6 m onths of this year will show a continuation
of Increases In gross and net, although the toll and long-distance business,
as usual, shows the effect of business depression. The Increase of subsciioers’ stations directly connected with the systems of the associated companies
shows an Increase over any previous year. The year will probably show a
greater increase of stations, including those of con nected,or sub-licensed
independent com panies, than any previous year.
In* any com parisons with the figures so far of the present year, considera
tion should be given to the fact that the year’s surplus earnings will be
reduced at least $150,000 by increased charges against It, due to conversion
of bonds into stock, and also about $315,000 by the decrease of interest In
com e, due to the exchange of capital advance notes of the associated com
panies held by the American Telephone Co. into capital stock of such com
panies upon which no dividends as yet have been credited.
1 All the a bove facts, taken into connection with the growing and more
favorable sentiment of the com m unity, which is evidenced by the Passage
in some States, and general ad vocacy and favorable c o n s i d e r a t i o n i n otheif,
o f bills allowing opposition telephone com panies to merge, togethci with the
verv broad and exhaustive decisions In supporting our contentions in the
very few cases where we have had to go to the courts for protection against
adverse legislation, presage for the next and future years a continuance of
our past prosperity.
Increase in Income— Sec New England Telephone & Tele
graph Co. below.
Listed in Paris.— An initial block of 300,000 shares of the
capital stock was listed June 20 on the parquet of the Paris
Bourse, being the first American “ industrial" stock accorded
this privilege. (Compare Va.-Caro. Chem. Co., V. 01, p •
1635.) The New York “ Sun" of June 21 said:
The opening transaction was at 790 francs and the close at 793 francs.
N egotiations in Paris have been going on since N ov. 1910. Kidder, Pea
b od y & C o., of Boston, have been the American bankers acting.
I lie
French banking syndicate is com posed of the Banque d c Paris et dcs I aysBas, Thalm an B ros., L. Hirsche & Cie, and Dupont & Furlaud. Negotia
tions between the French and American bankers were chiefly carried on by
M. Maurice Leon, of 60 W all S t., the lawyer who acted on behalf of 1'rench
ntercsts at the time of the listing of the Philadelphia
(V,' .
n 720). As in the case of the Atchison shares (V. 02, p. 1563), the Bankeis
Trust Co. will act as trustee, pursuant to the terms of the agreement under
which tlic bearer’s certificates good for single shares will bo issued to the
French bankers for distribution to the Investors of that count y.
IThc announcement of the new stock issue, com ing unexpectedly .cau sed
a sudden dip in the market price of the com pany s shares. The French,
bank therefore, that had sold on the Bourse some am ount of tlic shares at
the higher level, voluntarily canceled all sales from which the purchasers
desired to be relieved.]— V. 92, p. 1544, 1350.
703
7 % cumulative preferred (with full voting power) and com m on stock.
Transfer agents, the Philadelphia Trust, Safe Deposit & Insurance Co. and
Bankers Trust C o., New York; registrars, the Pennsylvania Co. for Insur
ances on Lives & Granting Annuities and Guaranty Tru3t Co. of New Y ork .
Digest of Letter of Alba B. Johnson to the Bankers, Dated June 22.
The Baldwin L ocom otive W orks (Incorp. In Pennsylvania in June 1911)
has acquired all of the capital stock of “ Baldwin L ocom otive W orks,’ a
Pennsylvania corporation organized in 1909 to take over the business of
the co-partnership which owned and operated the works since its beginning
In 1832
The Baldwin L ocom otive W orks intends, as soon as practicable,
in accordance with Pennsylvania laws, to acquire the ownership o f the
nlant and property of such older corporation. Including the entire capital
stock of the Standard Steel W orks C o., now owned by the older corpora
tion
IThe re-incorporation under the name of the Philadelphia L ocom ot ve W orks referred to in V . 92, p. 1377, it appears, was only a step in the
incorporation of the new Baldwin Locom otive W orks, into which new
banking interests have been adm itted.— Ed.]
The nlant and property so to be acquired is subject to the first mortgage
of the older corporation, to secure $15,000,000 of 5% sinking fund 30-year
polri honds due May 1 1940. of which $10,000,000 are outstanding. Upon
fts acquisition of the plant and property, the Baldwin L ocom otive W orks,
In accordance with the provisions o f such first mortgage, is to assume the
navment of the $10,000,000 bonds outstanding, and also of any and all ad
ditional bonds hereafter Issued undei such mortgage.
The 'p r o p e r t y o f the Standard Steel W orks Co. is subject to the first
mortgage of that com pany to secure $5,000,000 5% sinking fund gold bonds
due June 1 1928 C° Of such $5,000,000 of bonds, $4,300,000 are now out
standing, $6007000 have been retired by operation o f the sinking fundand
canceled, and $100,000 are Issuable hereafter u j 'd e t 9?°,,7i0} „ g?RS->
‘
The Baldwin locom otive business began n Philadelphia in 1832, Its im
mense plant, located within the City of Philadelphia, embracing 1 6R acres
and em ploying upwards of 12,000 men; also a plant at E d d y ston ^ I ennsj 1vanla, com prising 224 acres and employing upwards of 4,000 m en. The
plant of the Standard Steel W orks C o., situated near .L ewIstown, P a., com
prises about 87 acres and employs upwards of 2,000 men. 'the officers
and managers o f the former business take for Investment $o,900,000 of the
preferred stock of the new com pany and hold also a m ajority of the com
mon stock of the new com pany, and such officers and managers are to con
tinue In the administrative and executive management of the entire business.
A plan has been arranged under which certain employees of the new com
pany will be enabled to acquire Interests In the business.
ATel Profits, as Audited by Price, Waterhouse & C o., above Cost o f Operation,
Maintenance, Depreciation, Taxes, Interest Charges and Sinking ■ ■
Fund Paym ents. Annual dividend on the $20,000,000 ■ ■ • IS
P ref. Stock o f New C o., $1,400,000.
•
Combined net profits for cal. year 1910 of Baldwin L ocom otive •
W orks and Standard Steel Works C o--------------------------------------- $2,706,080
Net profits for cal. year 1910 of Baldwin L oco. W orks alone------ $1,916,680
Net profits for same yr. of subsidiary, Stand. Steel W ks. C o . . . . $789,400
Average annual net profits for the last ten cal. years, 1001-1910,
$2,081,^.11
of Baldwin L ocom otive W orks alone------------- ------------A ver, annual com bined net profits of the two cos. for same 10 yis.S2,528,633
For the year 1910 there was expended for replacements and maintenance,
including amounts charged oil for depreciation on the Baldwin plant
proper, $994,893, and for the last ten years a total (incl. the last-named
sum) of $5,729,919, this being deducted before reaching the net profits
above mentioned, and being deemed ample to cover all depreciation. In
the Standard Steel Works Co. accounts there was a charge for the year
1910 styled “ depreciation and inventory adjustm ents,” amounting to
$226,532,Jwhlch was also deducted before reaching net profits shown above
The gross sales for the year 1910 of Baldwin L ocom otive W orks alone
were $29,057,999. and such gross sales have averaged $26,285,883 for the
last ten years, 1901-1910. The gross sales for the year 1910 of the Standard
Steel W orks'C o. were $6,241,845, and such gross sales have averaged $4,
406,500 for the last ten years.
. . . .
gg
Combined Income Statement o f Baldwin Locomotive Works and Standard Steel
Works fo r Calendar Year 1910.
■
6v3
Gross sales (including receipts from all sources-------------------------$35,707,622
Manufacturing cost______________________
30,412,490
American Tobacco Co.— Mandate to Be Issued June 29.—
The mandate of the United States Supreme Court in the
Government suit will, it is stated, be issued on June 29.—
Net earnings-.----------- -------------- ------- .--............... - - - - - - - - $5,295,132
Taxes and expenses other than m anufacturing---------- $143,293
•
j.js
V . 92., p. 1501, 658.
Maintenance and depreciation.................... - ................... 1.221,425- •
118,867— 1,483,a8o
Ann Arbor (Mich.) Water G o — Proposed Sale— See “ Ann Bond discount____________________ _____ ____________
A rbor" in State & City department.
$3,811,547
All interest charges— ------------------------------------------ Atlantic Fruit Co., New York .— Proposed Merger.— The Sinking
fund against Standard Steel W ks. Co. bonds 200,000— l,10o,467
stockholders will vote July 17 1911 upon a proposition for
Balance available for dividends_____________________________ $2,706,080
the sale of the entire business, property and assets of the
O L ID A TE D
B A L A N C E SH E ET, B A L D W IN LOCOM OTIVE
company on the basis below stated and on giving an option C O N S
W ORKS A N D S T A N D A R D STEEL W OR K S, DEC. 31 1910. • ■
thereon to Joseph Di Giorgio. In anticipation of this sale
Liabilities ($47,144,595).
Assets ($47,144,595).
Baldwin capital stock ..$2 0 ,0 0 0,0 00
to a new consolidated company, the stock certificates are Land and buildings—
B a ld w in _______________ $9,011,858 Baldwin bonds__________ 10,000,000
now being deposited, endorsed in blank, with the Maryland
Standard_____________
1,875,863 Standard bonds_________ 4,300,000
1,044,423
Baldwin E qu ipm ent-- 9,851,100 Vouchers payable______
N at. Bank of Balt.
„ „
.
,
Standard
do
- - 4,806,831 Pay-rolls and current •
A syndicate headed by Sternberger, Sinn & Co. has under
accounts payable_____
323,928
Dwelling houses________
G2,700
written $2,500,000 bonds of the new Atlantic Fruit & Steam Inventories_____________
2,565,664
7,856,048 Bills payable___________
fund deposits___ 1,472,662
ship Co. (see below), to be incorporated in Delaware, prob Accounts receivable------ 6,240,959 Savings
Bills receivable__________ 1,780,296 Accounts payable (former
partners)_____________
1,264,050
‘
560,381
ably to-day.
Marketable securities—
D ig e s t o f C ir c u la r S ig n e d b y S e c r e t a r y I r v in g K . W a r d , N . Y ., J u n e 16 1 3 1 1
A new corporation is to be form ed which shall. If all matters are consum
m ated, take over the business, property and assets of ^ e2f°l* "^ ng corporaftnna.
AtlrLIltio Fruit Co. (V . 91, p. 13o0), (D) 3,OUU SlullCS, DClIlg
non half of the capital stock o f the Kurringwass Fruit C o., a Delaware co r
poration ° f(c) Centra 1 American Growers & Transportation C o., a South
S a k ota corporation; (d) Tanam o A gricola of Cuba; (c) Cayo A costa of Cuba;
(f the firm of J. Simon & Co. of Sama, Cuba; (g) Sim on Fruit Co a Dela
w a r e eornoratlon; (h) Donald Steamship C o., a N. Y . corporation stock,
out S349 150 Pref. 0% cum. and $170,258 com m on. No bonds. V . 81,
n 1613 1495— Ed.]; (1) certain leases of tracts of land in the Island of Ja
maica. situated on the Black River; (J) Cuba Fruit C o., a N. J. corporation
The holders of the stock of the Atlantic Fruit Co. ($1,000,000 authorized
nractlcallv all Issued) will receive for their present holdings a cash paym ent
as and when the matter Is closed of 12 y ,% of the par value of their holdings
and in addition for each one share of stock will receive four shares of stock,
each share being of par value of $100, In the new corporation so form ed
to take over the above-nam ed businesses.
U pon the amalgamation the new corporation will have an authorized
nanltai stork of ,S12 ooo 000. an authorized issue of 6% 20-year 1st M.
bond issue of $5,000,000, and out of the authorized capital stock $5,000,000
will be reserved for tlic conversion of the bonds into stock, which right of
conversion will be a stipulation In the said bond, and 57.000,000 of the
capital stock will be issued and outstanding. Of the $.>,000,000 of authorzed bond issue not exceeding $2,500,000 will be sold.
1 he corporation
will then tiavc assets, as shown by statements on file in this otfice, of up
wards of $8,000,000. The additional capital over and above the payments
necessary for the requirements of various businesses will be used In the
develonm cnt of the com pany’s business, in the planting of large additional
acreage of bananas and In the providing of new steamships.— V . 92, p. 1 180
fTustice M addox in the Supreme Court, Brooklyn, on June 14 vacated
the temporary injunction restraining the officials of the Donald Steamship
Co. from entering the m e rg e r - Ed |- V. 02, p. 1180.
Atlantic Fruit & Steamship Co.— New Company.— See
Atlantic Fruit Co. above.
Baldwin Locomotive W orks.— Stock Offered.— Drexel &
Co Philadelphia, and White, Weld & Co., New York and
Chicago offer, subject to allotment, the remaining unsold
portion’of the $20,000,000 7 % cumulative preferred stock
at $104 per share, payable July 1 1911. Preferred as to
assets and dividends. Dividends payable Jan. 1 and July 1.
Cumulative from July 1. Par of shares, $100. Redeema
ble, but only as a whole, at $125 per share and accrued divs
i T he preferred stock can be increased only with the consent of the holders
of a ma orlty of the preferred shares outstanding nt yxe
o f any n.
crease ■ Capital stock authorized and outstanding, $20,000,000 cachgof
83,334
C a s h ___________________
1,873,940 A ccr’d Int. on bonds____
Int. received In advance.
34,572
Cap. stk. subserp. with
600,000
cap. stk. as collateral- 2,748,771 Sink, fund res’ ve— Stand’d
Disc’ t & exp. of bond issue
446,350 Capital surplus_________ 4,020,112
1,435,849
Int. on unmatured loans
23,591 Surplus_________________
Engineering exp ., & c___
5,006
(Tlic total plant and equipment ($25,545,652) includes patterns and
drawings at a value of $2,583,451, but does not include any value for
patents, licenses or other intangible property.
•
■
* Note by Bankers.— The item "capital stock subscriptions with capital
stock as collateral, $2,748,771,” appearing in the above balance sheet, was
eliminated from the assets of Baldwin Locom otive Works (the obligations
receivable having been canceled and the capital stock collateral released to
the owners), prior to the acquisition of the stock of such corporation by
the new com pany.
[The income accounts and the balance sheets of the Baldwin L ocom otive
W orks (the older com pany) and the Standard Steel W orks Co. for the
calendar year 1910 were given in “ Chronicle” April 22, page 1105.— E d.]
Under the mortgage of April 30 1910 there will be payable In and after
the year 1915 an annual sinking fund of 2% of the maximum amount of
Baldwin Locom otive W orks 5s which shall have been Issued under such m tg.
Directors.— William L. Austin (Chairman); Alba B. Johnson (President):
Samuel M Vauclaln (V Ice-Pres.); William Burnham (Pres. Standard Steel
W orks C o.); E. T . Stotesbury (of Drexel & C o.); E . C. Converse (Pres.
Bankers’ Trust C o., N. Y .): Thomas DeW Itt Cuyler (counsellor-at-Iaw,
Phiia )• Roland L. Taylor (Pres. Phila. Trust, Safe Deposit & Insur. C o.);
Samuel M cRobcrts (Vice-Pres. Nat. City Bank, N. Y .); Charles D. Norton
(Viee-Prcs. First Nat. Bank, N. Y .); Otis H . Cutler (Pres. A m . Brake Shoe
& F d y. C o.); Francis M. W eld (of W hite, W eld & C o.).
• •
The stock of the new com pany is not subject to local taxation in Penn
sylvania under the present laws of that State.
Application will be made in due time for the listing of the stock on the
New York and Philadelphia stock exchanges.— V . 92, p. 1376, 1245.
(E. W .) Bliss Co., Brooklyn.— No Common Dividend,
Owing to Strike.— The directors have voted not to pay a divi
dend for the current quarter on the $1,250,000 common
stock, owing to the strike of the International Brotherhood
of Machinists which began on May 1. Distributions since
April 1899 have been at the rate of 2 y2% quarterly (payable
Q .-J .), prior distributions having been 2 % .
A bout 1,000 employees went out, about one-third o f their places having
been filled. In addition to cutting down profits, extra expense has been
entailed in the protection and breaking in o f the new men.— V . 81, p. 1667.
Brown Hoisting Machinery Co., Cleveland.— New Presi
dent.— Harvey H . Brown has been made President, succeed
ing the late Alexander E . Brown, who died April 26.
^
1704
THE CHRONICLE
The new President is a brother of the form er President. Alexander C
Brown, son o f the founder, has been elected Vice-President and a director’
George C. W ing was re-elected Sec.; Charles T . Pratt lias been chosen
Treas.— V . 71, p. 1271, 603.
Buffalo General Electric Co.— Additional Bonds Authorized.
— The Public Service Commission, Second District, on June
23 authorized the issue of $150,000 30-year 5 % bonds, which
are to be sold at not less than par.
On Feb. 21 last the Commission authorized the Issuance of S420 000
bonds to secure property In Buffalo and erect a building thereon. This
amount was found to be Inadequate and authority has been granted to
Issue the additional am ou nt.— V . 02, p. 528.
Champion Coated Paper Co.— Stock Authorized for Divi
dend.— The stockholders on June 23 approved the increase
in the common stock from $1,500,000 to $3,000,000, the
new stock to be distributed as a 100% stock dividend
Compare Y . 92, p. 1502, 1376.
Chino Copper Co.— New Bonds.— Stockholders will vote
June 30 on authorizing an issue of $2,500,000 10-year 0 %
1st M. s. f. convertible gold bonds, bearing date July 1, and
also an increase of $500,000 stock to provide for conversion.
If the bond issue and Increase of stock be authorized, each stockholder
of record on June 20 will be entitled to subscribe for his pro rata share of
said bonds on the basis of one $500 bond for each 140 shares of stock (total
par $70 0 ). Bonds are to be dated July 11911 and convertible at the option
of the holder after July 1 1912 up to and Including July 1 1917 into stock
o f the com pany at $2 5 per share, and be subject to redemption at the
option of the com pany on any interest day on and after July 1 1914 at 110%
o f par plus accrued Interest on 90 days’ previous notice. Stockholders of
record on June 20 1911 will be permitted to subscribe, up to and including
July 15, 50% to accom pany the subscription on or before Julv 15, togethc-i
with a sum equal to the accrued Interest from July 1 to July 15 amounting
to $0.63 for every $500 bond subscribed; and the remaining 50% on or
before A ug. 15, together with a sum equal to the accrued interest from
July 15 to A ug. 15, amounting to SI 87 for every $500 bond subscribed.
Full paym ent of subscriptions m ay be m ade on July 15. Bonds will be
delivered with coupons attached, maturing Jan. 1 1912. The entire
Issue has been underwritten.
A circular says: "T h e certificate of organization contained a provision
that the stock should not be increased nor Indebtedness Incurred In excess
o f $1,000,000 within 2 years from organization. This provision was Inserted
in accordance with agreements made with the parties from whom the
com pany acquired the property. That period has now expired. The com
pany, how ever, has not been com pelled to delay the developm ent and
equipment of Its properties. The results of the developm ents have been
fully set forth In an interim report recently sent you and are such as to
ju stify your directors In Increasing the capacity of the mill from 3,000 tons
per day, as originally planned, to 5,000 per day, and in order to meet
financial requirements and the proposed installation and to supply working
capital, the Issue o f bonds has been determined u p on .” — V . 92, p. 797.
Colts' Arms Co., N . Y . — Bonds Called.— The outstanding
$275,000 5 % collateral trust bonds will be paid of! at 105 and
interest on July 1 at the American Trust Co., Boston, trustee.
Compare V . 92, p. 1038.
Columbia Gas & Electric Co., Cincinnati.— Earnings.—
Statement for Four Months Ended A p ril 30 1911.
Gross earning3----------------- $1,126,678 I Bond Int., sink, fund, A c . - .$246,569
Net earnings --------- _ — . $560,1811Net for s to c k _____
$313 612
Net earnings for year 1910, $93,145. Sales of natural gas for ilrst four
m onths In 1911, 4,174,528,000 cu. ft., as com pared with 2.376.011,900 cu
ft. In 1910. Compare V. 92, p. 1560, 1567.
Commonwealth Edison Co.— Additional Bonds Listed.—
The Chicago Stock Exchange has listed an additional $900,
000 1st M. bonds, increasing the amount outstanding up to
$24,000,000.— V. 92, p. 798.
Consolidated Gas, Electric Light & Power Co. of Balti
m ore.— Earnings.— For year ending March 31:
Gross
■ Year Ending—
Earnings.
Mch. 31 1911----------------- $4,807,966
June 30 1910----------------- 4,699,098
— V. 92, p. 1568, 1502.
Net (.after
Taxes) .
$2,399,490
2,433,564
Fixed
Charges.
$1,373,448
1,374,362
Balance
for Divs.
$1,026,042
1,059,202
Contoocook Mills Corporation, Hillsboro, N . H .— Pref.
Stock Offered.— Subscriptions are being received by I. M.
Taylor & Co., Boston and N. Y ., at 107, to yield 6 .5 4 % in
come, for the unsold portion of $450,000 7 % cumulative
pref. stock of this new Mass, corporation, organized as suc
cessor, without change in management, of the Contoocook
Mills Co. of N . H . Pref. as to dividends and assets; divi
dends Q .-J ., accumulative from July 1 1911. Full voting
power. No funded debt. Auth. issue $500,000; par $100.
Callable at $125 on or after June l 1913. American Trust
Co., transfer agent. Old Colony Trust Co., registrar.
Digest o f Bankers’ Circular.
The principal product of these mills is the well-known “ C ontoocook
blue, heavy-ribbed woolen underwear and hosiery for men
The mills arc
1, 2 and 3 stories In height, some o f brick and some of wood, all equipped
with llre-sprlnkler systems and lighted by electricity.
The business has been in successful operation for over 40 years. The
profits in the past 5 years, Inclusive of the amounts withdrawn for services
by the President, which in future will not be a fixed charge, have averaged
about $59,000, and for the last 19 years $50,000. The demand has so
expanded that It Is planned to Increase the output 50% Immediately, which
should Increase total profits to about $90,000, or three times the dividend
requirem ent. The com pany will own outright one of the best water powers
In New England, with ample land (20 acres) on both sides of the C ontoocook
R iver. The minimum power now taken from tw o wheels Is sufficient for
the present plant and from 300% to 400% m ore power Is estimated to be
available. No m ortgage can be authorized except with vote of 75% of
the outstanding preferred stock.
Balance Sheet on Basis of Old Co.'s Condition M ay 1 1911. (l)A ssefs $829,444
Cash, $46,560; raw materials, $87,330; finished goods (cost),
^ $159,354; accounts and bills receivable, $11,200_______________$304,444
I lant and equipm ent, $175,000; land, water-power, llowagc
. 325,000
rights, A c., $150,000......... ................... ........ ..........
Good-will, trade-marks, & c________________________________________ 200,000
• (2). Liabilities, Aggregating $829,444.
b tock, pref. (auth. $500,000), issued $450,000; com ., $250,000 $700,000
Reserve account. $126,525; and bills payable, $2,919___________ 129,444
Des Moines (la .) Water Co .— Offer to Sell to City.— See
“ Dcs Moines" in “ State & C ity " dep.— V. 92, p. 1502, 1438.
Dominion Steel Corporation.— First Dividend.— An initial
dividend of 1 % has been declared on the $34,598,600 capital
stock, payable July 3 to holders of record June 20 — V 92
p. 1434, 325.
’
Donald Steamship Co., New York. — Proposed Merger.__
See Atlantic Fruit Co. above.— V. 81, p. 1613, 1495.
(E. I .) du Pont de Nemours Powder Co.— Dissolution
Ordered in Government Suit.— The U. S. Circuit Court, 3d Cir
[V O L . L X X X X I I .
cuit, at Wilmington, Dela., on June 21 decided in favor
of the Government the suit begun in July 1907 to obtain the
dissolution of the company for violation of the Sherman
Anti-Trust law. Compare V. 85, p. 286, 342. Judge Ban
ning wrote the opinion, Judges Gray and Buffington con
curring. See also editorial on another page.
The opinion holds the Du Pont d c Nemours Powder Co. and 27 other
les and Individuals (including the International Smokeless Powder
& Chemical C o., Delaware Securities Co., A c., and the principal officers o f
the Du Pont de Nemours Powder Co.) to be guilty of “ maintaining a com
bination In restraint of inter-State com m erce In powder and other explo
sives.” T he petition is dismissed as to 15 defendants. Including Aetna
P ow der C o., Miami Powder C o., American Powder Mills, Equitable Powder
Mfg. C o., Austin Powder C o., King Powder C o., A nthony Powder Co L td .;
Am erican E. C. and Schultze Gunpowder C o., Peyton Chemical Co Henry
A . du P ont (U. S. Senator from Delaware), Henry F. Baldwin (now de
ceased), California Powder W orks, Conemaugh Powder C o., .Metropolitan
Pow der Co. and E. I. du Pont Co. of Aug. 1 1903.
The decree provides that the Court. “ In order to obtain such further
Information as shall enable It to frame a Ilnal decree which shall give elfectlvc
force to its adjudication, will hear the petitioner and the defendants on
O ct. 10 next as to the nature of the injunction which shall be granted, and
as to any plan for dissolving said com bination which shall be subm itted by
the petitioner and the defendants, or any of them, to the end that the Court
m ay ascertain and determine upon a plan or m ethod for sucli dissolution
which will not deprive the defendants of the opportunity to re-create out
of the elements now com posing said com bination a new condition which
shall be honestly in harm ony with and not repugnant to the la w .” [These
provisions follow closely the ruling in the American T ob a cco case. V. 92,
p. 1501, 1466— Ed.]
Until the entry of the final decree the said 28 defendants are Jointly and
severally enjo ned from doing “ any act or acts which shall In any wise
further extend or enlarge the held of operations or the power of the afore
said com bin ation.” — V. 92. p. 1502, 131 1.
Bonds Called.— One hundred and twenty-four 1st M. 5 %
collateral trust gold bonds have been drawn for redemption
on July 1 and will be paid at the Metropolitan Trust Co.,
of New York .— V . 92, p. 1502, 1314.
Federal Biscuit Co., New Y ork.— Merger— Sale of Stock.—
This company, recently organized as a merger of baking
plants, is offering privately a limited amount of its pref. stock
at par, $100 a share, with a bonus of 5 0 % in common stock.
u . „ . ni^nto o.
A bstract of Official Prospectus,
n1
, S ( l° w 1,1 operation by the Federal Biscuit C o., and other
v,a,?,t'r
as rapidly
com pany is auic
able to
llnance them
\
Tn,„ r
, Yx as tiie wuipuny
IU UUtlllUU
U1U1II.. The
1UO
^hnn^ i ?nn nnn
^ ca p a c ity of 250 bbls. of flour per ebay, or
about 1,200,000 a year. The Bridgeport, Conn., plant has a capacity of
about
■i mm 200,000
>nn on.i a year. The D etroit, Mich., plant lias a capacity of about
400.000 per year.
!!lr, nth Bend, Ind., plant lias a capacity of about
__ near
_ _Detroit, then 2
200.000 per year.
'fLrhe plan Is to add another plant
prosperous plants in the South — 1 in Alabama and f i n Louisiana - a n t i then
take over a prom inent Pennsylvania plant. Other plants will be taken
over as rapidly as the business can be organized. The com pany controls
the patent of the R eynolds “ A crtltc” carton, or box for crackers, cakes, A c.
and the folding process for wrapping the goods In an air-tight manner.
The com pany has been organized to take over ami operate 78 of the
leading independent m anufacturing plants In the U. S ., located In 30 differ
ent States, making biscuits (“ crackers” ) , bread and candy, doing a com
bined business during the year 1910 a m o u n tln g to a to ta lo f $27,650,000,a ta
net profit of over $1,300,000. The plan Is to manufacture uniform goods,
creating a larger demand for them by liberal advertising and conducting
the m anufacturing so as to insure a thorough distribution at a minimum
th e l'cderal Biscuit Co. has no connection of any kind or nature
with other baking or biscuit companies.
Organized under the laws of Delaware, with auth. capital of $18,000,000
com . stock and $12,000,000 7% pref. cum . participating stock (divs. Q .-J .).
1 ref. and com . stock have equal voting power. The pref. stock lias prefer
ence both as to assets and divs. W hen the rate of divs. on the com . stock
equals that on the pref., further distribution of profits will be made to pref.
and com . stock alike in equal proportions. No m ortgage can be issued
without tiie consent of two-thirds of the pref. and com . stockholders
Directors.— Charles R o ycc Boss (Pres.), form er Pres. C. D. Boss & Sons,
In c., New London, Conn., biscuit and cracker m frs., director Nat. Bank of
Commerce, New L ondon, Conn., Pres. Biscuit & Cracker M frs.’ C o., N. Y .
Hartwell B . Grubbs (Sec. A T reas.), Sec. & Mgr. Biscuit & Cracker Mfrs’ .
C o., N. Y ., founder Union Biscuit C o., St. Louis; Thom as G. R obinson
Cleveland; Adam J. Lang, W . A J. Lang C o., biscuit m frs., W ilm ington
Del.;. John A - Anger, Anger Baking C o.. N. Y .; Herman A . Metz, N. Y ..
ex-C om ptroller City of N. Y .; Clinton G. Edgar, William Edgar A Son,
director I'ir3t Nat. Bank. Detroit, Mich.; Phelan Beale N Y
The demand for crackers in the U. S. Is constantly growing’ having in
creased 20% per capita In the past 6 years, and the probabilities are a great
Increase during the next 6 years.
Office, 100 Hudson S t., N . Y .— See also V. 91, p. 591.
Georgetown (D . C.) Ga3 Light Co.— Yew Plan.— 'The
stockholders on June 5, acting under a modified plan, auth
orized an issue of $1,000,006 (not $2,000,000) 50-yr. 5 %
bonds, interest F . & A .
Under the new m ortgage, which covers the entire property, there can be
Issued only $525,000 up to July 1 1912, to be distributed as follows; $225,000
to retire outstanding certlllcates of Indebtedness, $80,000 for floating Indebt
edness and the remainder to be used for Im provem ents, extensions, A c.
The Washington Gas Light Co. Is now the largest Individual stockholder.
I he officers now are: R obert D. W eaver. Pres.; M. J. A dler, V .-P .; R obert
L. Middleton, Sec. A Gen. Mgr.; Henry H. Flater, Treas. Directors; M.J .
Adler, W m . B. Orme, W illiam A . Leetch, S. Thom as Brown. William A .
Mearns, George L. Nicholson and R . H . Goldsborough
As to other
matters, see V. 92, p. 1368.
Great Lakes Steamship Co., Cleveland.— Bonds— Merger.
— The Tillotson & Wolcott Co., Cleveland, has recently
placed an issue of $1,500,000 ref. 1st M. 6 % gold bonds,
dated June 1 1911, clue serially $150,000 each July 1 from
1912 to 1921, both incl. Prin. and int. (J. & J.) payable at
Guardian Savings & Trust Co., Cleve., trustee. Par $1,000.
_
,
,
.
D ig e s t
of
B a n k ers’ S ta te m e n t.
Organized under the laws of Maine, with a fully paid capital of $6,000 000,
and has purchased the property of the follow ing successful com panies, which
' Y r<? controlled by the same Interests that control the new corporation:
U ' iSV s^ alJ?R?,r.t at'lon„ C o- (V- 86. p. 922), l.. C. Smith Transit Co'. (V. 84,
p. 1433), Wilkinson T ransportation Co. (V. 86, p. 1438), Standard Trans
portation Co. (V . 91, p. 8 77) , and American Transit Co. (V. 84, p . 1438).
Directors; Horace S. Wilkinson (P res.), John Dunn Jr., W . L. Smith,
W m . Nottingham , A . E . N ettleton, lio n . Hendrick S. H olden, Geo. B
U tto t^ N
J ' 1 rank Hurston, all of Syracuse, N. Y .; and A . G. Brower,
These bonds are Issued under a 1st M. on the entire property, consisting
of 21 modern steel freight boats used in the ore and coal-carrying trade on
the Great Lakes. These vessels have Just been appraised by three experts,
the average valuation being $5,625,800.
The property was originally bonded for $2,892,000, which represented
less than 50% of actual cost. This indebtedness has been reduced to
$1,800,000, which amount will be canceled by tiie proceeds of this bond
Issue and the sale of capital stock. This will leave the property, officially
appraised at $5,625,800, free from Indebtedness other than the $1,500,000
bonds offered herewith.
The com pany will be controlled and managed by the same Interests that
controlled the old com panies— interests whose trade connections have
enabled them to have ample tonnage under the most adverse conditions of
trade. The new com pany already has sufficient business on Its books to
enable it to send out Its principal boats on June 1. The average annual
earnings for the past 5 years were as follows: gross, $1,328,784: o’peratlng,
$833,032; net, $495,752, or m oro than sufficient to cover the lnsurano
J u n e 24 1 911.
T H E C H R O N IC L E
fmiH and the maximum Interest and principal requirements, while the ccon omi€* from thds^consolidation will, In our opinion, increase net earnings
m Insurance.— In lieu of Insurance policies the com pany will, each year,
pay to the trustee $250,000 In cash which sum Is to accumulate until It
{•caches $600,000, and Is to be thereafter maintained In an amount equal to
at least 50% of the outstanding bonds, with a minimum of $350,000.
1705
purchased by the estate of Simon J. Murphy of Detroit,
Mich., which, at the same time, bought the holdings of
L. E. Meyers of Chicago in the Green Bay Gas & Electric and
Green Bay Traction companies. The total consideration
was $1,000,000 in round numbers.— V. 89, p. 1545.
Great Western Cereal Co., Chicago.— Sale of Mills.— The
company has sold to the Quaker Oats Co. the mills at Fort
Dodge, la ., and Joliet, 111., together with trade rights in
"M other’s Oats.”
The com pany retains Its properties at A kron, O ., Muscatine and Nc111 President’ Joy Morton Is quoted as saying: “ The Great Western Cereal
Co. has had no working capital for several years. Its business has not
been profitable. Under the conditions It has been considered advisable
to dispose of part of Its p rop erty. This has been now accom plished in a
manner which safeguards to the utm ost extent the interest of the Great
Western Cereal Co. Just what its future operations are to be will depend
upon the action of Its stockholders.
,,
,
,
.
.
Vice-President Douglas says: “ 'l'hcre Is nothing in the nature of a con
solidation. Quaker Oats needed the mills and Great Western needed th~
m oney.” — V . 91, p. 792.
Orange & Rockland Electric Co. of Monroe, N . Y .— Bonds
Authorized.—The Public Service Commission, Second Dis
trict, has authorized the company to execute a mortgage to
secure an issue of $500,000 in bonds.
Of the bonds $183,500 .are authorized to be Issued at present, viz.: $37,000
to refund outstanding bonds, $97,000 to discharge obligations of the com nanv Incurred for capital purposes, $5,000 to discharge accounts Incurred
for capital purposes and 544,500 for improvements and extensions to its
nlant and svstem located In Monroe. The com pany operates in M onroe,
Chester B lo o m ^ g Grove, W oodbury Falls, Florida, YVashingtonvillc,
Central’ V alley? Hlghland Mills. Turner and O xford D epot.
Pacific Coast Power Co., Seattle, W a sh .— Another Extra
Dividend.— A regular semi-annual dividend of $2 50 per share
has been declared on the $7,075,000 common stock also an
extra dividend of 50c. per share, both payable July 17 to
Green Bay (W is.) Gas & Electric C o.— Sale.— See Northern holders of record July 1. These are the same payments as
in January last. Compare V’ . 92, p. 1636, 59.
Hydro-Electric Power Co. below.— V . 91, p. 592.
Pennsylvania Gas Co., Warren, Pa. Stock.—JThis com
International Merc. Marine Co.— See “ Annual Reports.”
New Director.— A . II. Gillard has been elected a director pany, which supplies gas in Warren, Corry and Erie, l a.,
and in Jamestown, N. Y., has, it is reported,
^ <rc*
to succeed John E . Archbold, who resigned.
Bonds Called.— Three hundred and twenty-five ($320,009) a certificate increasing its capital stock from $8UU,UUU to
1st M. sink. fd. 5 % gold bonds issued under mtge. dated $4,800,000, paying thereon a State tax of $10,333. Ires.,
Feb. 1 1899, under the former name of the International
Navigation Co., have been called for payment on Aug. 1,
at par and interest, at the Fidelity Trust Co., Philadelphia,
trustee.— V. 92, p. 191.
International Smokeless Powder & Chemical Co.— De
cision— Sw Du Pont do Nemours Powder Co. above.
V . 92, p. 599, 46G.
Geo. W . Jackson (In c.), Chicago.— Liquidation.— 'The
creditors’ committee has, it is stated, undertaken to complete
the existing contracts, but no new contracts have been sought.
The well-equipped fabricating plant has been practically shut down and
Is now ottered for sale. Other office-building and warehouse property of
tin> com nan v recently changed hands, and partial liquidation rather than
rcorgardzim
l desirable. The steel plant, having a capacity
of°approxlm ately 7,000 tons annually, was extensively enlarged and Im
proved during the past year, and is equipped for the m anufacture o f both
large and small steel w ork.— V . 92, p. 1035, 559.
C. N . Payne; Sec., W . H. Filler.
Quaker Oats Co.— Purchase of Mills.— See Great Western
Cereal Co. above.— V. 92, p. 660, 592.
Sherwin-Williams Co., Cleveland.— Ally.— See SherwinWilliams Co. of Canada below.— V. 91, p. 877.
Sherwin-Williams Co. of Canada., L td ., Montreal. Prcf.
Stock Offered.— The Montreal-London Securities Corp., Ltd.,
and Johnston, McConnell & Allison, both of Montreal, are
offering for subscription $300,000 7% cumulative prof, stock,
with 20% bonus of common stock in this new company, in
corpora ted on June 9 1911 under the Canadian law.
Knickerbocker Ice Co. of Chicago.— Ronds Not Yet Offered.
__ No offering of the $4,300,000 new bonds recently sold has
yet been made, but is expected to be shortly. Besides pro
viding for the payment of the $1,200,000 5 % notes, which
havcTieen called for payment at 101 on July 1, the new notes,
it is reported, will be used to retire the $1,962,000 of old
1st M. 5 % bonds outstanding, which will be called and paid
at 105 on Oct. 1 next.— V . 92, p. 1639, 1503 .
Condensed l’ xtracts from Hankers’ Advertisem ent Based on Official Data.
()f the $3",000,000 of prcf. stock issued, the Sherwin-Williams Co. of
America (V. 91, p. 877) and the directors of the new com pany have taken
SI 500 000 for investment, and of the remainder $1,200,000 has been taken
by’ Canadian Investors, leaving only the $300,000 now olfered.
Capitalization—
„ , A u lh ■ T o o e is s u e a .
Prof, stock, 7% cutn. (In $100 shares), quar. dlvidend to accrue from June 15 1 9 1 1 .........................^ ’noo'noo 5s ’nnn’noo
Common stock (In $100 shares)
---------------------- i ’nnn’ nnn p 'a a o ’ ooo
30-year 6% consol. 1st M. sink, fund gold bonds
4 •P?0 ’ ?®'? „ 2 iV,,
Head office and factories. Montreal: British office and factoiies, London,
Eng.; branch offices, factories and warehouses, roronto W innipeg, Van
couver: oxide mines, St. Malo, Quc.; foreign branches, Sydney, W ellington,
Maryland Coal Co. (of M d .).— Subsidiary .— The Maryland
Coal Co of W . V a ., which was recently incorporated with a
capital stock of $2,000,000, is, we are informed, merely a
subsidiary organized to operate the West Virginia propeities
of the old Maryland Coal Co.— V. 92, p. 466, 326.
Merchants’ Coal Co., Pittsburgh.— Control, &c.— Sec
United Coal Co. below.— V . 90, p. 630.
Merchants’ & Miners’ Transportation Co., Baltimore.
Dividend Reduced.— The “ Balt. Sun” on June 18 said:
NCFMrme(f t o ’take'over* (a)° th^Canadlan business
S ^ ln -W I H I ^
(built in 1905), embracing paint, varnish and linseed oil works tin ™n fac
tory, &c.; business established 24 years ago; (b the^controL0 I the Canada
Paint Go
i,t<i org. 18 years ago: paint and coloi works at Montreal,
varnish works a tT o ro n to ; paint factory and linseed 011 n}111 ^ “ {h ^ ofd est
ldc and graphite mines, (c) Lewis Berger & Sons, L td ., one of ttie oldlest
and best known paint, varnish and color manufacturers In Great Britain,
olant situated upon four acres of land In London. The last-named com
pany has since 1905 been associated with the Sherwin-Williams Co.
On the basis of the reports and valuations of experts the net assets
amount to about $4,005,012, without any allowance for formulae, trade
mark, patents, rights, and good-will of the companies, which are valued
at Combined °^rnl°ngs for the year 1910, after R o w in g
amounted to $537,808. Deduct Interest on bond., -ssued, $1
dividend on 7% prcf. stock, $210,000; balance, surplus, equal t ° 4
on
com m on stock, $180,808. C. C. Ballantyne, Managing Director, estimates
that the com bined profits for 1911 will be $550,000 and for 1912 $600,000
The financial district learned yesterday that the directors had declared
the dividend for July at the rate of 1 % instead of 2% . This makes the dis
bursement for this year total 3J^% , as com pared with 4 M % foi 1910. 01 Directors (continuing the present managements): W alter H . C ottlngT he control of the stock Is owned by the N ewIOnglandN TavigatlonCo., all ham President (Pres, the Sherwin-Williams Co. o f Am erica); C. C. Ballanof the stock of which In turn is owned b y the N Y N II. & Ha rtfold I d • vne’ VVm McMaster, W . J. W hite. K .C ., J. W . McConnell of Montreal;
Co. [The navigation com pany owns $2,500,000 stock, oi one-half o f the James W . Garson, London. Transfer agents. R oyal Trust Co. Regis
entire issue, and $3,250,000 4% debentures. Sec also V . 90, p. 1494.J
tears, Investment Trust C o.. L td.
,
Montreal Light, Heat & Power Co .— Reduction of Prices —
A reduction for electricity for lamps hag jiccnjtnnounctm^Q
take “ ‘ ” ’ "
Southern California Edison Co., Los A ngeles .— Connerhde Debentures.— Harris, Forbes & Co., E. II. Rollins & bons
jnd Perry, Coffin & Burr are offering at 101 and interest,
elding 5 % % income, a limited amount of an issue of
1,000,000 6% five-year gold debentures (tax-exempt in
iilifornia), dated April 1 1911 and due April 1 1916, but
idecmable on any int. date at 101 and int. Interest A. & U.
N. Y ., Los Angeles or Chicago. Par $1,000 (c*). Conrtible at par at option of holder into common stock,
c bankers show:
.Capitalization as OJ/icially Reported A p ril 30 1911.
f stock, 5% cu m ., author., $4,000,000; outstanding - - - - $4>999.000
Vmon (receiving dlvs. of 5% per a n il.), auth., $26,000,000; Iss. 7 ,-9 0 000
•-year 6% gold debentures (entire Issue)-------------------------------- 1.000,000
,m ines tor Year Ended A pril 30 1911 (with Present Interest Charge).
w
m i Tnt
tcrc linru
s
_50—
0.0
$625,880
Int. ati
on m
mtge.
bonds-----------.$3,455,193
,, earnings------Int. on debentures---------60,000
New England (Bell) Telephone & Telegraph Co.— Dividend
Rate Now 7 % . The directors on June 2 1 declared a quarterly
div. of 1 % % , increasing the annual rate from 9% to 7 / 0 .
The American Telep. & Teleg. Co., as owner of 5 8 % of the
$39,178,000 capital stock, will profit by the increase to the
extent of $227,000 per annum.
Pms Keller savs' “ The average dividend to the stockholders during the
life of the company has been less than 5% . Although the company has
been for several years in a position to change the dividend rate, definite
action was deferred until the completion of the recent rate readjustments.
Tt K n o w nraotfca “ certain that these readjustments will reduce the net
revenuc"b etween $500!o00 and $600,000 per year and the recent wage
increai-s ivi 1 absorb over $200,000 more. It Is expected that the addlona? huslncU wldch should develop as the natural result of the lower rate
achoduVcd11 win bv another year begin to make Itself felt and insure a fair
marcVr. of kafetv o ver flxed charges. The officers feel that this distribution
Of the Inc-cased net earnings between Its employees, the public and its
sLreholder 3arsCan^Equitable adaptation of the principle of the sliding scale.-
Report— Sac “ Annual Reports” on a preceding page —
V . 91, p. 592, 151.
Northern Hydro-Electric Power Co., Peshtigo, W is .—
Sale.— A controlling interest in this corporation has been
1,760,297
pxp., taxes, &c.
Rcs’ ved for depreciation— 590,000
Net earnings__________ $1,694,896
\
1 B alance
------- *-34}9,01.6
The debentures are Issued to pay for permanent e * t cnslo9s ant9 a
%
Unden the debenture agreement, no new mtge. can be placed op the property
unless these debentures arc attorded the security of any such mtge
On y
$400,000 of the debentures will be available f o r r cu^torners. ^hey
be heavllv oversubscribed at the Issue price of 101 and int. (Lompait
V. 91, p. i 517.)—- V . 92, p. 1570. 1640.
Swift & C o. — On Chicago Regular List.— The Governing
Committee of the Chicago Stock Exchange this wee* placed
on the regular list the $75,000,000 stock herceofore traded in
on the unlisted department. V. 9*2, p. 1114, 1 1 3.
Union Stock Yards Co. of Omaha.— Rarninys.— In refer
ence to a discrepancy in the statement V. 92, p. 1378, we
have the following:
There was a transposition in the circular which you received, which, as
vou presumed vVas an advance proof, the expenses being stated In thc cirenlarPas $ 3 4 2 253 lns^ad of $324,253. This we have corrected in our later
circular
In reference to the net earnings of this company, would say that
they have charge 1 the net earnings in each of theipast two years with |100^non nf Honrrclatlon thus reducing the net to $454,558 tincl
re
spectlvdy? white, as a 'matter of fact, the earnings were $ 1 0 0 , 0 0 0 In excess
1706
THE CHRONICLE
[VOL.
LXXXXII.
of t,.U amount, each year
Vou will note In our circular that the President
has stated the earnines for 1910 to he $554,558.— V. 92, p. 1378.
United States Steel Corporation.— Status.— Chairman E .
United Coal Co. of Pittsburgh.— Offering of 6 % Bond- II. Gary on Wednesday, before sailing to attend the inter
Secured Coupon Notes.— J . S. & W . S. Kuhn, Inc., Pitts national congress of ironmasters in Brussels early in July,
burgh, N . Y ., Chicago and Phila., and Kuhn, Fisher & Co.,
Boston, are offering at par and int., by advertisement on
There has been a slow, steady Increase In the steel business during the
another page, the unsold portion of a block of $750,000 6 % toS^3O*10OO^tons^ner^d^fv*°whioh V?onth 11p, } °
present time are 28,000
month
Cron rpnnrt^nn
^ , i s a considerable
Improvement
overqntfqlast
bond-secured coupon notes, dated Dec. 31 1909; par $ l,0 0 0 c *, in on i n . orop
reports on thp
the C
aveiage
are good. Our
rolIorHnnq nrp
due $100,000 Jan. 1 1916, $100,000 Jan. 1 1917, $125,000 Our°mlils are^r un ntn e1atf 68
t
han
they
have
been
wur mius are running at 68% o f capacity. Of course there is Ineluded in
Jan. 1 1918, $250,000, Jan. 1 1919 and $175,000 Jan. 1 1925
rh
v,eC
rVlarr^ & s tethC rat0 °*
Int. J. & J. at Safe Deposit & Trust Co. of Pittsburgh, P a.,
trustee. Tax free in Pennsylvania. The bankers having
tbpU' ^ rlb^ llC^p*1^ ob je ct^ ^ sh u ^ l^ t^ c^ ch a n g e views
already sold $750,000 (V . 88, p. 298) of the authorized note
issue ($1,500,000), the proceeds of which have been expended
-P C in permanent improvements, are now offering the remainder,
I
h
o
^
f
there
might
be
formed
an
International
Iron
and
steel
association
on
which has been issued to reimburse the company in part for the lines o f the American Iron and Steel Institute, but o f course we shad
the purchase of 7 5 % of the capital stock of the Merchants' It Is not mnhnh c that )Ilshes ° f the foreign manufacturers in this regard!
inne
probable that we can do more at this meeting than to obtain oolnCoal Co. (V . 90, p. 630).
'
ons and appoint a com m ittee to confer and report at some future tim e.
Abstract of Hankers’ Circular.
■ l he notes are secured by a deposit with the trustee of $1,250 of the com
pany s 5% sinking fund gold bonds due Feb. 1 1955 for each $1,000 note
Issued. The Issue Is, through Its collateral, except as noted below, a first
hen on the entire property (Including 1,010 steel cars) recently appraised at
$10,280,295, to which must be added the equity in the Merchants’ Coal Co
represented by the ownership of 75% o f the capital stock. The property
of the Merchants’ Coal Co. has recently been appraised at $8,985,300 sub
ject to a bonded d ebt of only $3,036,000, outstanding May 25 1911. Total
value of com bined properties, $19,265,595; total bond, debt, $11,481,000
Sinking fund for retirement of the 5% bonds Is lo o ts , a ton for coal mined
in the gas coal district passing over a 1 K-Inch screen, and 7 cts. a ton on run
of mine In the Somerset Held; also a further 1 ct. per ton on run of m inecoal
mined on the properties of the Merchants’ Coal Co., and this will be Increased
to 3 cts. a ton when the $716,000 underlying bonds of that com pany dated
March 1 1904 shall have been retired by sinking fund. Under the various
sinking funds the entire bonded debt will be retired before one-half of the
coal Is exhausted.
Financial Statement M ay 25 1911— (Total Outstanding Dd. Debt $ 11,481,000)
l s l£ J % 5s* 1,955’ a u th - 57,000,000 (V . 82, pY 1320)";"Issued! "$~6~- ’ u,uou
• 0.8.7,’ 00,0 > lcss retired by sinking fund, $294,000______________ o 693 000
Held for betterments and purchase m oney m ortgages. _
$13,000 '
'
bonded clebt ° r co s - whose cap. stk. has been acquired;
Na° ’p ' £ ? a' C o - 51,145,000; Pittsburgh & Baltimore Coal Co..
j $477,000; Jenner-Quc Mahoning Coal C o..$ 1 3 0 ,0 0 0 .................... $1,752,000
Vf 5opded .debt of Merchants' Coal C o., 75% o f stock acquired?
r
Merchants Coal Cos. of Penna. and W . Va. 1st M. s f., due
• March 1 1924 (V. 80, p. 716), $716,000; Merch. Coal Co. of W .
.I- Y a -> due July 1 1926, $61,000; Merch. Coal C o., Balt. City, due
' A ug. 1 1911, $10,000___________ ______________
8787 000
Merchants’iCoal Co. of Penna., due A pril 1 1959 (V . 90. p ,~630) IT 2 .249.000
^ U n i t e d C o a l C o . f r o m O r g a n i s a t i o n in 1902 t o D e c . 31 l o i o .
— ,------$4,558,884 Interest on bonds_____ -$1.883,f05
R m h w i ™ tCOfa lal?d s y 904,713 Net gain (no dividends
R ep acement of equlpm ’ t661,423)
p a id ) __________________ 1 109 683
nrnw m i.ntl'n
nl.ne ycai's. the c °m pan y has made extensions a n d ’ lmY-°nnnnY(n3 a? d i 1,1
"1? Increased Its coal acreage at a cost of approxim ately
> ° f which over $1,100,000 has been paid out of earnings, after
the following deductions from gross proilts: Depletion of coal lands S904
713; replacement of equipment, $661,423.
*
The valuation of $19,265,595 placed upon the properties is based upon
the single seam of coal now being worked; in addition to this there are in
the properties in Somerset County tw o other seams owned, and in West
Virginia one seam, of marketable coal. A pproxim ately 254,000.000tom
of coal arc available in the single seam now being worked, while 298 '00 ooo
tons are available In the seams yet to be opened, a total of 552,400 ooo tons
according to engineers’ estimates. The total acreage controlled !s35 550
The coal Is of the finest quality for both gas and steam, that from the Orenda
mine being furnished the Government for use in the A cadem y at Annapolis
The mines arc equipped with im proved labor-saving machinery
W e also
own several thousand acres of surface, valuable river frontage railway ex
tensions, modern power houses, more than 1,000 miners’ houses and hotels
150 river craft and one steam boat, &c.
noteis,
*uTI)£iC<)n?pany Is onc °,f tlle largest coal companies In Pennsylvania brinethe third In tonnage mined annually. The ten mines, total dally output
capacity 18,700
and onc field controlled b y it, are as follows: Patterson
Mine, capacity 1,800 tons a day; Elizabeth, P a.; Ella Mine, capacity l 600
&
ada/ , ’ w °bstcr. £?•: Rlc!l m il Mine, capacity 1,500 tons a day, Meadow
wSads; J a " j y aomI Mine, capacity 1,800 tons a day, Bede Vernon Pa
Mines Nos. 1 and 2, total capacity 3,500 tons a day, W estm oreland’
County, l a.; Jerome Alines Nos. 1 and 2, total capacity 4 500 tons a . h J
hv ()rtr7 ' 'i i n ! n s ca p a city 2,500 tons (to be increased to 4,000 tons a day
' ’ h,o m crset
w" County,
VV/UUIJ, A
III., Tunnc'ton
Au
Vy-n>iCV 1
Pa.;
Mine present Ci'naeifv
l.,o00
H tons
- - « ? (to be increased duringdm-ino- 1911
i o n to 2,
a .ooo ton Y a d a y ), Tunnelton
W . Va.:
yetd
ev elop ed ),vvK in
g w o Thf'qp
o d T w !’ V a. These
.—
......... ucvwupuu;,
ivingwooa,
Va
properties have exceptional shipping facilities, each mine being located on
a large railroad system , and several on the Monongahcla River also
4 ;h e c o a lls widely marketed through the o f f i c e s T p M i ® , p 7 .‘ and
branch offices in N. Y ., Boston, Putnam , Conn., Phila. Balt W ish
Cin., Cleve., Detroit and Milwaukee. The Northwestern trade Is provided for
through the W isconsin Coal & Dock Co. of Milwaukee, in th e o w n e rs h ln o f
which the United Coal Co. participates equallywith three non-com petitive
com panies. Tne Southern river service is facilitated by the ownership of
two-thirds of the stock of tile Trum Coal C o.of Cincinnati which owns an
elevator and storage yards In that city
’
owns an
1111
See.' anil Trcas!—
'.^p !*1fe4 1".
Reduction of Wire Prices.— The American Steel & Wire Co
has made a formal reduction of $2 per ton on wire products,
including wire, wire nails and painted and galvanized barb
wire, effect ve June 21.
Is sa,d. t0 bc merely technical, as deliveries for the last few
W
e e s arc
are m
w b
M k 1S
«nilevel
thc. b?
8 fofr$2
a ton bclow
(,ffIekil Quotations,
t iiccb
now
oack
to?th
the
o f flast
January.
Thc readjustment
hr in era
P The 0' ‘ h o n
thhn WPP!11 Iiac
reYIsed prIccs ^ bar products,
unusual n°Junp?
week notes that an Improvement In demand is
Thfl
n? A,?iid heace, thls year’s developm ents are highly gratifying,
of t
h
e
“ t e f n 8 ‘ “ erea-slng. being larger In nearly every branch
Steel CornoraHnn’
lidinS, plF Iron-, T hc bookings of the United States
operaUng^to ful?v
f Increasing, and this week Its steel plants are
ing tlxo bScst showing m ‘ heir Ingot capacity, against 63 % % last week, bemg m i uesi snowing made for 2 m onths.— V . 92, p. 1641, 1570.
United Wireless Telegraph Co .— Officers Convicted.— A.
jury before Judge Martin in the U. S. Circuit Court on May 29,
atter a trial asting over 4 weeks, found five officers of the
company guilty of conspiracy and of misuse of the mails to
defraud investors in the company's stock. An appeal has
been uciivGii.
u r ^ W m A m b o f f P?AnnSUv ,nS PYesld,ent Ghrlstoither 0 . W ilson. Treashead of the N V itkJu com X ’ 1!utler' lef al a‘lvlser, W in. W . Tom pkins,
agent w
e
r
e
a? enc y and Geo. W . Parker, Western llscal
I &
'T
bS
™ "
S o lS m .e on“ K i S f Ila»nkc“ ' . ' S y. T , T M , p . 'i 'm . ”
'S
a
““
Receivership.— Associate Justice Bird of the Maine Supreme
Court on June 12, on application of George Ross Eshleman
of Lancaster, the holder of 80 shares of pref. and 620 shares
of common stock, appointed John Howard Hill of Portland,
Me. Frederick I. J. Hanson of Philadelphia (3d V .-P .) and
oeth M. Milhken receivers.
Justice Cohalan in the State Supreme Court in this city
0j.n i iUGi
on aPPdcation of Samuel P. Williams and other
stockholders, appointed Sidney Harris and Robert E . Dowhng, I resident of thc City Investing Co., receivers of the
property in this State.
nf
V 1 11b P ’ s -,UIrcuit Court on June 16 denied thc application
m.i
U? ? y’ cPs’ Howard S. Cans and thc Corporation Trust C o., together
holding claims aggregating $2,237, which was made on June 14 for the
appointm ent o f receivers. Judge H olt says that thc application having
b
nlad? , t0 Y 10 Supreme Court, the latter obtained Jurisdiction.
yiecs-Cliancellor Howell at Newarlc, N . J ., on June 16, on the application
of thc last-named stockholders, appointed Randolph Perkins of Jersey City
^ H o u s 1othe^ States6 VCrS haVC alS° bccn appo!tUcd of the properties in
tniTteS?lnCth«
*h9 bl“ of complaint In the Federal suit, which are ad
S
? p J' s answer, are that the assets of tiie com pany, at a
f
™ o n’ f f 0 Y orV tban enough to cover its Indebtedness; but that
a fo rced ®aic „t:ll° y would bring only a nominal am ount. The
t i T K o vcs about S6o,000, all of which, with the exception of $18,500 in
the form o f mortgages, Is overdue. There is only $100 cash on hand.
ib e a sse te . in addlt on to patents and patent rights and an annual Income
or about $2o,000 derived from wireless apparatus Installed on ships, are
estimated to be worth at least $1,010,500, Including factory equipm ent,
materials at Jersey City valued at $65,000, and at .Seattle, W ash., $15;000;
real estate in Jersey City, $8,000; real estate In Seattle, $22,000; 61 land
stations valued at $3,000 each; 410 steamship stations, with apparatus,
pnn^ ^ ^ ^ m M e a s e s ^ a l u e ( m t t $1,250 each, or a total o f $512,500, and
L ° Ckhart’ V -P rca .; Thruston Wright
United States Light & Heating Co.— Par of Stock.— The
directors at a recent meeting considered the question of in
creasing the par value of the common and pref. stocks of the
company from $10 to $100, and referred it to a committee
to report later.
1
ot
change is approved by the board and authorized by stockholder
application, it Is stated, m ay lie made to list the com m on and pref stoc
on the New York Stock Exchange.— V . 92, p. 1041.
United States Motor Co., N . Y . — $12,500,000 6 % Com
verhble Bonds Authorized— Present Issue $6,000,000 UndM
written— Offered to Stockholders at 92.— The stockholders 6n
Price on application at the firm’s home o f f i c e b T l f i t S u r S T
June 10 adopted the various propositions relative to the au or branch offices in Chicago, Philadelphia, New York and
thorization of $12,500,000 6 % bonds, payable in five ychrs Boston:
from the respective dates thereof, redeemable at option of
— Plympton, Gardiner & Co., bankers, are offering for
comptmy at 105 and int. on any int. date after two years investment on another page $1,000,000 (new issue) of the
Irom the issues thereof in amounts of not less than $100 - U. te. Govt. Panama Canal 3 % gold loan of 1911, due 1951.
000, and convertible at par into common stock at option of These bonds are tax-exempt throughout the United States
holder at any time after two years.
and available for deposit with the Treasury Department as
The present issue of $6,000,000 of said bonds has been security for Government deposits, including funds of nostVl
underwritten by a syndicate headed by Eugene Meyer Jr. savings banks.
1
& Co., New York, and is offered for subscription at 9 2 % of
— W e have received a copy of the 1911 edition of the
par until 5 p. m. July 14 to all shareholders of record June 20
Tlisto ( of Indianapolis Securities and Manual of Statis
to the extent of $2,533.56 bonds on account of each 100 shares
tics,” published by the Mcyer-Kiser Bank, 137 East Wash
of stock held, or, in'other words, approximately a $1 000
ington S t., Indianapolis, Ind. The booklet is replete with
bond for each 39.47 shares.
’
financial information regarding securities local to the Indian
Subscriptions arc payable at the com pany’s office, N o. 3 W est 61st st
apolis
market.
N . Y ;. 42% July 14 1911 and 50% and accrued Int. O ct. 2 i o n on Which
dat- the bonds will be issued. The second Installment m av be orennui
nterest will be allowed on installments, not prepaid at 6% ocr annum
n d u on any P[aepaW ^s^allmenpt atg 4 % . The com pany w B l'not sell ^
— Clark, Dodge & Co. arc offering Public Service Corpora
tion of New Jersey general mortgage 5 % sinking fund bond's
see advertisement on another page.
T H E C H R O N IC L E
J u n k 2 4 1 9 1 1 .1
1707
C O T T O N .
'Jpue
&
C O M M E R C IA L E P IT O M E .
Friday Night, June 23 1911.
With good crop prospects, easy rates for money and indica
tions of a favorable showing in our foreign trade balance for
the fiscal year ending June 30, the outlook for general trade
is slowly improving.
The bank clearings are one evidence
of this. The improvement in the copper trade is another.
Still another are rather more cheerful developments in the
iron and steel market. Yet conservatism is still manifest
everwhere.
.
L A R D has been rather quiet but in the main steady;
prime Western here 8.50c., City 7 % c ., refined for the Conti
nent 8.65c., South America 9.65c., Brazil in kegs 10.65c.
Futures have been only moderately active at best and most
of the time the fluctuations have kept within a contracted
compass for lack of anything stirring in the news.
Friday Night, June 23 1911.
T H E M O VEM EN T OF T H E CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
6,871 bales, against 12,573 bales last week and 18,271
bales the previous week, making the total receipts since
bales
Sept. 1 1910 8,349,725 bales, against 7,083,812
for the same period of 1909-10, showing an increase since
Sept. 1 1910 of 1,265,913 bales.
Receipts at—
G a lveston ---------Port A rthur-----Texas City, & c ..
New Orleans-----G u lfp o r t----------Mobile ------------P en sa cola ---------J ackson ville-----Savannah ---------B ru n sw ick -------C h a rle sto n -------G e o rge to w n -----W ilm in g to n -----Norfolk ................
D A IL Y CLOSING PR ICE S OF L A R D F U T U R E S IN NEW YO RK .
Sat. M on .
Tues.
Wed.
Thurs.
F ri
8.20
8. 5
8.35
8.32
8.30
July d elivery------------------8-20
8.35
8.40
8.35
8.53
8.53
Septem ber delivery------ 8.35
D A IL Y CLOSING PR ICE S OF L A R D F U TU R E S IN CHICAGO.
New Y o r k ____
Tues.
Wed.
Thurs.
F ri.
Sat. M on .
Boston ...........
8.121^
8.20
8.32
8.25
8.20
July d elivery------------------8.15
8.2714
8.35
8.1714 8.40
8.32 14 B altim ore____
Septem ber delivery------ 8.27 'A
P O R K has remained quiet; mess here $ 1 7 @ $ 1 7 50, clear
$15 7 5 @ $ 1 7 and family $18 5 0 @ $ 1 9 50. Cut meats have
been firm, but the demand has been comparatively small.
Pickled hams 14 @ 1 4> £c ., pickled bellies, clear, 12 @ 1 3c .
and pickled ribs l l @ 1 2 c .
Beef quiet and steady; mess
$12 5 0 @ $ 1 3 , packet $ 1 3 @ $ 1 3 50, family $13 50@ $ 1 4 and
extra India mess $ 2 0 @ $ 2 0 50. Tallow 5 ^ c . for City.
Stearines declined to 7 ^ @ 8 c . for oleo,while still quoted at
1 0 @ 1 0 M c . for New York lard. Butter firm, with a faildemand; creamery extras 23c., firsts 2 1 @ 2 2 c . Cheese
firmer, with the trade taking the receipts; State, whole milk,
colored, fancy, H K @ 1 2 c . Eggs, Western firsts, 14>2@ 1 5 c
O IL .— Domestic linseed in better jobbing demand at
easy prices. City, raw, American seed, 9 0 @ 9 1 c .; boded,
9 1 @ 9 2 c .; Calcutta, raw, $1. Cottonseed dull; winter 6 .5 0 @
7.25c., summer white 6 .5 0 @ 7 c .; crude nominal. Cocoanut
higher at home and abroad; Cochin 8}4@Qc., Ceylon 8 y @
8 :M c. Corn steady but quiet at 5 .9 0 @ 5 .9 5 c . Olive quiet
at 8 8 @ 9 0 o . Lard quiet. Prime 7 3 @ 8 5 c ., N o. 1 extra
6 3 @ 7 0 c. Cod firm at 5 7 @ 5 8 c . for Newfoundland and 5 4 @
56c. for domestic.
_
.
,/n
COFFEE has been very quiet, with No. 7 Rio 1 2 M @
12M e.; No. 4 Santos 13Me. Futures have as a rule shown
little life. In other words, the trading has been small and
the fluctuations correspondingly contracted, though within
a day or two there has been some increase in transactions
in the distant months. Primary markets have latterly
been firmer, with reports of large sales in Brazil.
Closing prices were as follows:
i o'oo
June____ 10.84© 10.86[September 10.78© 10.701December
July
A u gu st
10.8 7© 1 0.88 O ctob er
10.63 © 10.6.> A p r il--------10.88© 10.881Novem ber 10.00© 10.62 |M a y ..........10..>9© 10.00
S U G A R .— Raw firm but quiet; the Cuban crop is estimated
at 1,500,000 tons; European quotations are far above the
Cuban parity. London has been steady. Centrifugal, 96degrees test, 3.95c.; muscovado, 89-dcgrces test, 3.45c., mo
lasses, 89-degrees test, 3.20c. Refined, granulated, 5c.
Teas in fair demand and steady. Spices quiet.
P E T R O LE U M , though quiet for the home trade, meets
with a steady export demand. Refined, bbls., 7.25c.; bulk
3 75c and cases 8.75c. Gasoline in 100-gallon drums 18Me.;
drums $8 50 extra. Naphtha, 73 to 96 degrees, in 100-gallon
drums, 16M c.; drums $8 50 extra. Spirits of turpentine
56c
Rosin $6 50 for strained, common to good. Hops,
though quiet, arc firm; the crop is making good progress in
TOBACCO.— Conditions in the tobacco trade have shown
little change. Manufacturers of cigars have continued to
make only such purchases as are necessary from time to time
to" satisfy immediate needs. Desirable binder continues in
light supply. Sumatra tobacco has moved but slowly; the
high prices asked check business. Cuban tobacco has been
dull
Many packers, however, are rather more optimistic
as regards the business outlook for the autumn. There has
been talk at Washington of raising the internal revenue duty
on manufactured tobacco.
COPPER has advanced, with a better demand and a more
cheerful feeling as to the statistical position; consumption
is reported to be increasing. Lake 1 2 M @ 1 2 M c ., electro
lytic nominally 12M c., standard 12Mc- Tin has declined
at home and abroad; the London market is under manipula
tion it is believed, in order to sell "corner” holdings. Spot
here’ nominally 44c., June 4 3 M e., July 4 2 Me- Spelter 5M c-,
being advanced by the syndicate. Lead firmer at 4 y2c . I ig
iron in better demand; No. 1 Northern $ 15 @ $ 15 50; No.
Southern $14 7 5 @ $ 1 5 25. The steel trade has improved ma
tcrially- railroad work is increasing; independent rail mills are
operating, it is believed, to 65 to 7 0 % of their capacity. _ the
price of all steel wire products, including nails, has witlnn
a few days been cut at the rate of $2 a ton to conform in a
measure to recent cuts in other steel products. Prices on
wire products arc back to the level of last January. Some
increase in demand for steel, which is unusual in June, en
courages the hope that the tide has turned. . •. • * • •
71
159
—
181
—
‘ 353
“ 12
169
—
140
104
""<5
1
148
-102
100
—
30
::::
680
Totals this week
545
—
2,170
—
53
1,618
61
Ill
—
405
475
151
“ 43
____
“3
‘ 373
‘ ‘ 98
173
‘ 103
102
140
1,020
102
4
11
155
158
—
•7‘ -
165
16
—
153
2
—
148
34
—
871
340
—
79
29
70
362
179
362
894
6221
1,421
6,871
1,223
—
-—
—
2,358 1
‘ ‘ 58
—
::::
896
T o ta l.
F ri.
T h u rs.
W ed .
T u es.
M on.
S a t.
The following shows the week’s total receipts, the total
since Sept. 1 1910, and the stocks to-night, compared with
last year:
_________ __
Receipts to
June 23.
This Since Sep
1 1910.
Week.
Galveston---------Port A rthur-----Texas City, & c.
Ncw Orleans___
Gulfport ---------M o b ile ------------P ensacola---------Jacksonville, &e.
Savannah______
B run sw ick_____
C harleston_____
Georgetown —
W ilm ington —
N orfolk________
N 'port News, &c
New Y o r k _____
B o s t o n ________
B altim ore---------Philadelphia —
T o ta l_________
This Since Sep
1 1909.
Week.
2,170 2,734,124'
200,943:
300,083
l ‘,618 1,561,301
34,211
249,580
"5 8
122,678
25,358
140
1,020 1,409,897
102 222,736
11 285,037
1,436
409,988
‘ 871
340 558,0541
3,924:
13,987
38,089;
179
111,934;
362
365!
4,240 2,459,955
___j 142,281
____
72,058
8,198 1,267,290
8,264
550 242,188
137,385
400
39,365
3,290 1,322,421
229,420
“ 649 209,062
1,370
208 312,130
503,750
1,575
18,789
348
25,095
2,303
13,817
202
77,364
398
1,796
6,871 8,349,725
22,361 7,083,912
1911.
14,946
1910
33,283
69,065
72,555
' l 'l 8 5
" 4,796
11,688
739
7,308
23,978
3,980
3,502
"l",025
9,515
‘ 8,229
8,744
118,823
8,109
2,133
3,310
132,661
4,303
4,840
1,038
247,846
301,909
In order that comparison may be made with other years,
1911.
Receipts at—
1908.
1909.
1910.
1907.
1906
14,379
9,399
8,198
550
3,290
9,733
3,710
8,866
1,384
3,161
10,712
1,220
5,890
5,106
158
3,034
324
126
925
187
1,004
551
3,099
4,811
681
649
208
1,575
348
3,303
2,693
58
25
1,491
487
1,292
10,998
59
10,522
934
4,662
15
192
1,175
1,711
10
359
6,871
22,361
34,420
43,355
21,050
30,637
Galveston —
Pt Arthur, &c
New Otleans.
M o b llc ______
Savannah —
Brunswick __
Charleston,&c
W ilm ington. .
Norfolk
N ’port N ., &c
All o th e r s .- -
2,170
4,240
1,618
58
1,020
102
11
871
340
T otal this w k .
9,598,585 7,575,328
Slnce Sept. 1 8,349,725 7,083,812 9,675,030 8,056,118
ilie C.\ Juno iui vug
----- -- ■-------o .
of 20,366 bales, of which 1,334 were to Great Britain,
to France and 19,032 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910:
Week ending June 23 1911.
Exported to—
Exports
from—
Great
Britain.
Great I
I ContiIiritain. Fr’nce} nent.
Galveston----Port Arthur__
Texas City, &c.
New Orleans-M obile..........
Pensacola —
G ulfport____
Savannah ----Brunswick----Charleston .
Wilmington
Norfolk —
Newport News
New York-_.-[
Boston ..........
Baltimore----Philadelphia . .
Portland, Me. J
San Franclsco.j
Seattle ...........
Tacom a.......... '
Portland, Ore.
Pembina.........
Detroit............
Totaj ...........
6,791
1,862
6,791
1,862
3,350
818
4,746
394
2,071
122
12
From Sept. 1 1910/0 Jane 23 1911.
Exported to—
5,564
134
2,465
Conti
nent.
Total.
952,033 300,933 1,067,794 2,320,760
44,898 54,969; 107,076 200,943
212,816 56,933
33,424 303,173
863,982 143,173 433,089 1,440,244
68,699 42,754
73,260 184,713
55,080 30,595! 37.103 122,778
34,211
6.271 19,338]
8,602;
320,667 114,600 459,571 894,838
104,133
! 78,325 182,458
18,832] 9,900
97,351 126,083
137,871 32,015 213,226 383,112
15,644
4,843,
10,801
292,987 92‘ 02i| 287,140 672’ 148
8,572 109,430
100,858
73,042 104,274
22.362 8,270
65,796
15,804;
49,992
669
669
84,155
84,155
44,553; 44,553
11,843
11,843
500
500;
2,627
"i, 627
1,334| 7TTT| 19,032 20,3603.265.578’905,5013,139,873 7,310.952
Total 1909-10." i M o i l T T - .l 27,016 56.509 2.292,387 879,9452.642,5505.814.882
■ j n addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. W e add similar figures for
NewgYork.
.
'•'• '. • '. '■'. : U
......... ................
T H E C H R O N IC L E
1708
On Shipboard. Not Cleared for—
Great
Britain. France
June 23 at—
New O rlea n s..
G a lv e s to n ____
Savannah ____
Charleston
M o b ile _____
N o r fo lk ______
New Y o r k ____
Other p orts___
2,769
T otal 1 9 1 1 ..
T otal 1 9 1 0 ..
T otal 1 9 0 9 ..
3,719
9,986
18,725
Ger
Other
many. Foreign
392
3,088
6,537
Coast
wise.
7,934
102
Total.
284
414
" l2 l
"700
250
"400
792
1,834
15,493
f.200
200
11,146
12,165
9,692
6",666
"666
8,936
6,698
11,776
8,740
17,3141 10,026
14,467
7,053
121
6,000
3,200
450
w n ’ The highest, lowest and closing prices at
New York the past week have been as follows:
Leaving
Stock.
54,598
7,893
11,688
7,308
1,004
3,515
115,623
14,866
Good mid. tinged.c Even
Strict mid. tinged..0.15 off
Middling tin ged ...0.25 off
Strict low.Mld.tlng_0.75 off
Low mid. tinged...1.75 off
Middling stained. . . 1.00 oft
The officiai quotation for middling upland cotton in the
New York market each day for the past week has been:
June 17 to June 23 —
s.at
Mon. Tncs. W ed. Thurs. Fri.
Middling uplands...................... .15.50
15.30
15.40
15.30
15.20
15.10
N E W Y O R K Q U O TA TIO N S FO R 32 Y E A R S .
The quotations for middling upland at New York on
June 23 for each of the past 32 years have been as follows:
1911 -C...........15.10
1910------------ 15.05
1909------------ 11.75
1908------------ n .8 0
1907------------ 12.85
1906------------ 10.90
1905------------ 9.30
1904------------ 10.95
1903.c . _ .
1902______
1901____
1900_____
1899_____
1898______
1897. _
1 8 9 6 ...
.12.90
. 9.25
- 8.62
. 9.50
. 6.12
. 6.38
. 7.81
- 7.62
1895.c ___
1 8 9 4 ..i . .
1893____
1892_____
1891_____
1890_____
1889_____
1888_____
- 7.19
- . 7.31
- . 8.00
. 7.44
_ 8.38
.12.00
.11.00
.10.31
1887. c _____ 10.88
18S6_________ 9.19
1885________10.38
1834________11.25
1883________10.50
1882------------ 12.31
1881------------ 11.06
1880________ 11.94
r
M A R K E T A N D SA LES A T N E W Y O R K .
The total sales of cotton on the spot each day during the
week at ^ ew Tork are indicated in the following statement.
1 01 t le convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
Spot Market
Closed.
Saturday___
M on day____
T u e s d a y ___
W ednesday.
Thursday . .
I r k la y _____
Quiet,
Quiet,
Quiet,
Quiet,
Quiet,
Quiet,
10
20
10
10
10
10
pts.
pts.
pts.
pts.
pts.
pts.
Futures
Market
Closed.
d e c .. Barely steady
d e c ..
a d v ..
dec . Barely steady
dec . _ Barelv steadv
d e c . . S te a d y ______
T o ta l____
SA LE S
Spot.
@|
Contr'ct Total.
—
—
—
—
—
—
124
...I
124
406
_____
400
©|
@|
@|
@|
@|
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O
31
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rf
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coco COCO COCO
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0 I 0 I
NO O CO @| ©I ©I 0
COCO
0 05
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TjilO COCO oo
CO oo
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COCO COCO
•533
b*N nono
rr rf
CPR
nono
COCO
r
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CDno
norf
COco
@I 0 | 0 | 0 |
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»(-C
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b
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^ Tjl
0 I 0 | 0 |
CO 00
CDCO
CDno
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0 |
nono
COco
; to ”«* to
b*00
COCl
COCO
©7
b- r>.
COCO COco’
0 I 0 I
COCO Cl ci
0 I 0
0T
no
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co CO
0 I
O 05
CJrH
COco
COCO COCO
ooco
COCO
COCO
co’ co
0>7
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ci cm
coco
0 I
cono
cOtj<
n
o^ Tfco
Cl rH CV1rH
C0C4
COCO coC
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0
T
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0 I
COCO
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o
oo O1(0 b*.c-o |ci
<Dl<0 notji
1-H
-J1* coco
co
0 I 0 )7 0>T 0 I
c
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COCO*
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©I ©| ©
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31,291
216,555
44.5011 257,408
71,250 314,288
Speculation in cotton for future delivery has been fairly
active at irregular prices, declining sharply at times, owing
to beneficial rains in Texas and elsewhere in the Southwest,
as well as east of the Mississippi. Advices from Texas col
lected by the Galveston N ew s" indicate that the crop is in
better condition than at this time last year. Very little dam
age has been done by boll weevil. The hot, dry weather
which prevailed for a considerable period seems to have been
very destructive to them. There has been, moreover, per
sistent and heavy liquidation in the July option, not only here
but in New Orleans, which has had the effect of causing a
very sharp decline in the p ice.- It is to this circumstance,
too, that some of the depression in new-crop months must be
ascribed, though the timely rains east and west of the Mis
sissippi have naturally been a large factor in the decline
I here is a growing impression that the outlook for the crop
is in the main mu h better than speculators for a rise would
have the general public and others believe. Not only is the
acreage the largest on record, but it may be doubted if culti
vation has in recent years been as thorough as it is this year
under the spur of the existing high prices. One hears from
le x a s, for example, more frequently than at any time in the
past, of the very widespread application of scientific farming
methods, with beneficial results; the abnormally large
purchases of imp oved implements; the introduction of
heavier work animals on the farms, and the unusually
leavy purchases of fertilizers, not heretofore used much
in Texas. In that State the farms are unusually clean and
remarkably free, we are told, of pests, so that the spell
of dry, hot weather was far from being an unmixed
evil especially as some portions of the Southwest really
needed dry, warm conditions for a time. To-day prices
moved within a narrow range. The South sold to some ex
tent on further good rains in many sections of the belt.
Iteports from the Atlantic States have been very favorable
of late. On the other hand, temperatures of 105 to 110
in Texas, 10T in Okolaom i an l 100 to 103 in other
States have been the source of many complaints.
It
is asserted, top, in some quarters that the subsoil moisture in
lexas is deficient. The fact is recalled that June conditions
are usually followed by deterioration, which in some sections
has been marked. Spot cotton is in rather better demand.
The statistical position on the surface, at least, seems to
many strong. There has been a good demand from spinners
and trade interests on the basis of about 13c. for October and
December. Spot cotton has declined to 15.10c. for middling
uplands.
b
The rates on and off middling, as established Nov. 10 1910
•in-e ^ evisl? n Committee, at which grades other than
middling may be delivered on contract, arc as follows:
F a ir..........................c.1,50 onMiddling_______c. Basis
Strict mid. fair____1.30 on Strict low. mid____ 0.25 off
Middling (air........... 1.10 on Low middling..........0.75 otT
Strict good mid____0.68 on Strict good ord____ 1.20 on
Good middling____0.14 on Good ordinary..........2.00 off
Strict middling___ 0.22 on Strict g’d mkl. tgd.0.35 on
[V O L . L X X X X I I .
@
T0I
CDci
Cl CO
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0 I
COCO
CO COCO COCO
©I
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CO coco COCO
11
COCO
COCO
©I © I © I ©I
ocl0
C
c0
i
©I ©I ©I
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COCO
11
©I ©I ©I
COCO*
S3 S3 S3 1SB
a « Mil
rj o
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Ko ioio go(5~a:o
3 3
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^ ^
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3
3
£
£
$
d
3m
|
1 lllo V IS IB L E SU P P L Y O F COTTON to-night, as
made up by cable and telegraph, is as follows. Foreign
stocks, as well as the afloat, are this week's returns, and
consequently all foreign figures are brought down to ThursY 'Y \° make the total the complete figures
TT it ", J * (In d a y ) we^ add the item of exports from the
United States, including in it the exports of Friday only.
June 23—
Stock at L iverpool--------- .bales.
Stock at L o n d o n __________
Stock at M anchester___________ I
1 9 Ij
748.000
ip non
8 s[ooo
T otal Great Britain s to ck _____
Stock at H am burg_____
Stock at B re m e n -----------------------Stock at Havre ____________
Stock at Marseilles__________
*
Stock at B a rce lo n a ______
Stock at G en oa___
_
Stock at T rie s te ____________
~
841,000
12 000
13L000
132 000
2 000
20 000
l a ’eoo
s ’ooo
186,000
182,000
3.000
345.000
261.000
4.000
29.000
36.000
368,000
423,000
691,000
T otal Continental stocks---------
1010.
1009.
527,000 1,114,000
12.000
7,000
43.000
82,000
587,000 1,203,000
11,000
11,000
22,000
8.000
10,000
6.000
1908.
606,000
9,000
70,000
685.000
21,000
367.000
109.00
5,000
42.000
41.000
28.000
673,000
T otal European stock s----------- 1,209^000 1,010.000 M 9 ^looo 1~3B8,000
India cotton afloat for E urope__ l."3,000
148.000
07.000
82,000
A u e r , cotton afloat for Europe .
98,533
154,711
202,212
165,092
Egypt,Brazil, & c.,allt.for Europe
37 000
10.000
27.000
22,000
StocK in Alexandria, E gy p t_____ 105,000
82,000
125.000
102,000
Stock in B om bay, Ind ia_____
578 000
699.000
414.000
510,000
Stock in U. S. ports ............. ..
247 846
301,909
385,538
260,919
Stock In U. S. Interior t o w n s ..
144 7 18
182,841
193,829
183,282
U. S. exports to -d a y ____________
2 A 60
80
18,461
13,409
I otal visible su p p ly---------------.2,605,257 2,588,541 3,327,040 2,723,702
American—
totaIs ot Am crlcan and other descriptions arc as follows:
L iverpool stock ____________ bales. 610,000
437,000 1,016,000
487.000
Manchester stock
38,000
64,000
60,000
Continental stock _____________ II 326 000
367,000
633,000
575.000
American afloat for E urop e.
.
98 533
154,711
202,212
165,092
U. S. port stocks_______
247‘Rdfi
301,909
385,538
260,919
U. S. Interior stock s______
144,718
182,841
193,829
183,282
U. S. exports to -d a y _____
2,160
80
18,461
13,409
T otal A m e r ic a n ......... ..
1,494,257 1,481,541 2,513,040 1.744.702
East Indian, Brazil, &c.
Liverpool stock -------------------------138.000 90.000
08,000
119.000
London s to c k ____________
10 000
12.000
7,000
9,000
Manchester stock ____________ ”
i s ’ ooo
10,000
18,000
10,000
Continental stock ______ . .
' "
42 000
56.000
58.000
98.000
India afloat for E urope_____ I I "
183 ’000
148.000
67.000
82.000
E gypt, Brazil, &c., a llo a t___
3 7 ’ooo
10.000
27.000
22,000
Stock In Alexandria, E g y p t___
105’ ooo
82,000
125.000
129.000
Stock in B om bay, Ind ia_____
578 000
699.000
414.000
510.000
Tntal American8” &° ----------- HJL000 1,107,000
814,000 979,000
i otai American........ .............-1,494,257 1,481,541 2,513,040 1,7441702
T otal visible su p p ly___________ 2,605,257 2,588,541 3,327,040 2,723,702
Middling Upland, L iv e r p o o l...
« aid
8.05d.
6.06d.
6.55d.
Middling Upland, New York
15 10c
15.05c,
11.70c.
1 1.60c.
E gypt, Good Brown, Liverpool
ll U d’
8
R
d
.
9
>id.
Slid.
Peruvian, Rough Good, Liverpool 11 2~>d
lid .
8d.
9.5 Id.
Broach, Fine, L i v e r p o o l..____ 7 n '10 ['
7d. 5 1 l-16d.
5 5id.
T lnncvclly, G ood, Liverpool _
7 9-16d’
7d.
5 9-16d.
5 5 -UHL
Continental imports for the past week
bales.
have been 57 000
’
, Ync ^o°iV? /*,£urcs ^or. *911 show a decrease from last week
of 106,081 bales, a gain of 10,716 bales over 1910, a de
crease of 721,783 bales from 1909, and a loss of 118,445
bales from 1908.
'
A T T H E IN T E R IO R T O W N S the movement— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items
for the corresponding period for the previous year— is set
out in detail below.
• S’
g-s F-“p§S'
FgJpPSirSs!
o ?
.r
p . - * 3*
H
&
1709
T H E C H R O N IC L E
J u n e 2 4 1 9 1 1 .]
BC
h
mc+O
::
woi 03.
<
S !! n,
t»O
0, 1,
g? -
I
-
gj £.0
: :
X
3SP
K
‘O
JV
!*
i
; ; !~"El b I ' I : j - ; ;
1 ! P°! P; ; •
2*
a >
2 2.
o
. ,-t
: -<J3.
P
s-
2
>
Week ending
June 23.
G a lv e s to n ___
New Orleans.
M o b ile ---------Savannah —
C h a rle sto n ...
W ilm in gton ..
N o r fo lk _____
Baltimore —
Philadelphia .
A u g u s t a -----M em p h is____
S t. L ouis-----H ouston-------Little R o c k ------
Closing Quotations Jor Middling Colton o n Sat'day.
Monday. Tuesday. Wed’day. Thursd'y
yi
15 H
15 5 -16
15*$
1 5 'A
15*$
1 5 J$
15 5-16
15H
15 H
15M
15
15
15
15
15
15 %
15 H
15.75
1 5 *$
15 5 - 1 6
15 H
1 5 Hi
15
15H
15
1 5.55
15*$
i s y,
15*$
1 5 *$
1 4 *$
15M
15 H
1 5.65
[ 15 %
15
15 X
15 H
1 4 V*
X
H
15 H
15
15
15
H
15X
15H
1 5.55
15*$
15
15*$
15 X
14 H
Friday.
15*$
15
15
15 H
15 H
,15 *$
15
,1 5
15*$
15*$
15 X
15*$
1 5.45
;i5 *$
115*$
15.3 5
i 1 5 *$
!15
il5 * $
:i5
■14H
io n
15
15 H
15
14*$
N E W O R LE A N S O PTION M A R K E T .— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
o
Sat'day. Monday, Tuesday, W ed'day, Thursd'y, Friday,
June 17. June 19. June 20. June 21. June 22. June 23.
| J! ! ! !
June—
— @ — — @ — — @ — — @ — — @ — — <§> —
Closing;______ 14.74 — 14.67 — 14.94 — 14.92 — 14.90 — 14.87 —
Closing-------August—
m
O© io
o M cn
MMMMMih
jL* os O cn 4^CJ>C9O «0 w 00C5 i,i t-S-} « «•!O 00H-»t-»CsCl i-pt'J*» *-*
dC« -d C!' >-*M^ UJWCJO US O © USO tOCl UOCAM© WOj O U) h- M
^Mr* i'l 00C WO »* Cl ts O Gl O w'lO QCQ i.MHMIoroXf
os
M
os
,
,
,
33c»
, ,
Oi O Cl*-*1 1Mnw I-1 t\SI OsM'11 I*dM>-*i-‘ >OisOUSUSM
^K
(BOOOO
h
-»ii 'I OOWtS'llhOli
MOQltJNlOOl OMOl
OtNSQli ii O
USiJkQ
G
OCoQ
IC
INSCD CO 00 GO JO
COh- » C S © M i 7 . OS a>
►-* © 00
03 H*
00 ►-»
05 os on O to US ",u
r p ’r
“d t>>
w © us © m © m cm
O©>-*>**•©1 G0>-*if*C»»M©«O©MCO>Ut-»£*«OCK®C©U3©CJ«q»CO
o o QoCIto 00ih5!I'SCil*000
■
' ■“ J
">tOOO<ja^CSMCOOstOCiito.
i-*
14.85-. 15 14.67-.78 14.81-.90 14.95-.06 14.93-.96 14.88-.94
14.85-.87 14.70-.71 14.98-.99 1 1.95-.97 14.93-.91 14.88-.89
14.18-.38
Closing______ 14.24-.25
{September—
13.41-.53
Closing1— . . 13.44-.46
October—
13.18-. 28
Range - —
Closing______ 13.21-.22
November—
Range ---------- — @ —
Closing---------- 13.20 —
December—
13.15-.26
C losing______ 13.20-.21
© >£»
C losin g ..
February—
13.99-.14 14.12-.22 14.05-.22! 14 .01-.10 14.06-.10
14 .01-.04 Lf.20-.22 14.0fl-.07 14.05-.07 14.10 —
13.28-.38 13.3 6-.40 13.21-.32 13.17-.27 13.18-.20
13.28-.30 13.39-.40 13.20-.21I13.17-.19 13.19-.20
13.00-.14 13.09-.1G 13.93-.09 12.90-.02 12 92-.00
13.04-.05 J3.13-.14 12.93-.94i 12.92-.93 12.U5-.96
— <a — — @ — — @ — ,— @ — — @ —
13,03 — 13.12 — 12.91 — 12.91-.93 12.93-.95
13.00-.12 13.07-.lfl 12.93-.08 12.89-.00 12.90-.98
13.03- 04 13.12-.13 12.92-.93 12.91-.92 12.93-.94
13.25-.27 13.07-15 13.12-.17 12.98-.13 12.95-.06 12.C6-.03
13.26-.27 13.08-.09 13.17-.19 12.97-.99 12.96-.97 12.98-.00
— @ —
Closing______ 13.30 — 13.13 — 13.22 — 13.02 — 13.01 — 13.03 —
13.39-.41 13.21-.27 13.29-.31 — 13.21 13,10-.13 13.C8-.1J5
Cl islng______ 13.36-.38 13.20-.21 13.29-.31 1 3 .0 9 -.il 13.08-.09 1 3.C 9-.ll
Tone—
Quiet. Unchgd. Steady. Steady. ]Vcry st y Steady
E asy.
Steady. S tacdy.
Steady.
O p tio n s -------- Stea'Iv. Stea'Iv
eoW i Cito
,Uo
© O -d ©' tvs4k*4Ui
© ,U.Co© l\SI—
*© i itfcCI0)1tvs4s.
© O © © © © © UoCO>fe*>—
*© © CA00“d © *—
*i—
*© © “d is >t*>-*“d >L*© *-**d© >t*>—
*
ccorocis-‘ ?o-Lcicoo^J4-oss-‘ Oooois-‘ Oi*»ootvsooci«>-'ttvss-*ciwcoos<o
W E A T H E R R EP O R TS UY T E L E G R A P H .— Our tele
graphic advices from the South this evening denote that the
weather has been quite favorable as a rule during the week
C>I-*© i OS >-»“d >-*03 >-* OS00OtJI os00!-*>-••
OO> >i»M© O>
—
*©00© ©>-*©cu© © 1 00© ©O'
over most of the South. Beneficial rains have fallen in
tvsO O i »l C>*JO ts -I s ic <s>O Q O “10 1 CQOCSCSI
almost all localities and the temperature has been satisfactory
O
S
0
0
“
d
©
©
00£»lI—
*■tSS>—
»»—
*■ H*© .£. US© USUS
generally. The crop, on the whole, is doing very well.
©>-*©©© citstc.ci-iooooC3.fe. oo-ieococios —osco>-*os-i •3 2.
Cl •-* j c O' t-v ^ t o oo cs Cl
O Cl O t-1 US Cl US Cl -1 - 1 OS M Cl CO O O CO
Galveston, Texas.— There has been rain on three days of the
O c0 03 O 00 CS C 05 o s os t o O O Os US Cl t-* US Cl to tvs tsS CS Cl Cl Cl O Cl
week, to the extent of one inch and forty-three hundredths.
The above totals show that the interior stocks have de The thermometer has averaged 79, the highest being 88 and
creased during the week 9,547 bales and are to-night 3S,123 the lowest 70.
lirenham, Texas.— There has been rain on two days the
bales more than at the same time last year. The receipts
at all the towns have been 2,185 bales loss than the same past week, the rainfall being one inch and fourteen hun
dredths. The thermometer has averaged 84, ranging from
week last year.
71 to 97.
O V E R L A N D M O VEM EN T FO R T H E W E E K A N D
Cuero, Texas.— It has rained lightly on one day of the week,
SINCE SEPT 1.— W e give below a statement showing the the precipitation being eighteen hundredths of an inch. The
overland movement for the week and since Sept. 1, as made thermometer has ranged from 70 to 103, averaging 87.
up from telegraphic reports Friday night. The results for
Dallas, Texas.—-We have had rain on two days the past
the week and since Sept. 1 in the last two years are as follows: week, the rainfall reaching twenty-five hundredths of an inch.
1 9 0 9 -1 0 ------- 1910-11------Since Average thermometer 86, highest 104, lowest 68.
Since
June 23—
,
Henrietta, Texas.— It has rained on two days of the week,
Sept. 1
S ept. 1.
W eek.
Shipped—
Ifw fc.
415,685 the rainfall reaching thirty-four hundredths of an inch.
r>10,611
5,600
Via St. Louis__________
- ......... 3 , d20
175,901
207,019
1,188
Via C a iro _________________ _______
017
20,315 The thermometer has averaged 85, the highest being 108
25,057
Via R ock Island............................... .......
114,421
2,4 2 2
130,365
Via L ou is v ille ______________
079
46,179 and the lowest 61.
172
79,046
Via Cincinnati __________
377
Huntsville, Texas.— W e have had rain on one day during
132,920
578
174,604
Via Virginia points_________
G84
151,510
897
168,831
Via other routes, & c--------------------763
the week, the precipitation being one inch and sixty-nine
hundredths.
The thermometer has averaged 83, ranging
10,857 1,056,931
_ 7,240 1.296,433
Deduct shipments—
from 70 to 96.
118,072
2,903
164,375
541
Overland to N. Y .. Hoston,
Kerrville, Texas.— It has rained on one day of the week,
60,962
975
60,953
329
Between Interior t
62,365
1,009
51,715
the precipitation being eight hundredths of an inch. The
Inland, & c., from S outh----------- _ 1,005
thermometer has ranged from 62 to 100, averaging 81.
241,402
4,887
_ 1,875
277,043
T otal to be d ed u cted -----Lampasas, Texas.— W e have had rain on two days of the
815,529
5,970
. 5,365 1,019,390
Leaving total net overland *.
past week, the rainfall reaching eight hundredths of an inch.
Average thermometer 85, highest 104, lowest 65.
* Including m ovem ent b y rail to Canada.
Longview, Texas.— There has been rain on two days during
The foregoing shows the week’s net overland movement
has been 5,365 bales, against 5,970 bales for the week last the week, to the extent of forty-two hundredths of an inch.
year, and that for the season to date the aggregate net over The thermometer has averaged 85, the highest being 100
and the lowest 70.
land exhibits an increase over a year ago of 203,861 bales.
Luling, Texas.— W e have had rain on one day during the
-----— 1010-11— — -------- 1000-10—
In Sight and Spinners'
Since
Since week, the precipitation being eight hundredths of an inch.
7'aktngs.
Week.
Sept. 1.
W eek.
Sept. 1.
Receipts at ports to June 2 3 ____ 6,871
8,349,725
22,361 7,083,812 The thermometer has averaged SO, ranging from 71 to 100.
Net overland to June 2 3 ........
Nacogdoches, Texas.— There has been rain on two days the
5,365
1,019,390
5,970
815,529
Southern consum ption to June 2 3 . 48,000
2,003,000
40,000 2,093,000
past week, the rainfall being twenty-six hundredths of an
inch. The thermometer has ranged from 68 to 108, averag
T otal m ark eted-_ - - 60,236 11,372,115
68,331 9,992,341
Interior stocks In excess------------- * 9,547
93,940 *14,267
99,678
ing 85.
Palestine, Texas.— W e have had rain on three days during
54,064
. ___
Came Into sight during w e e k .. . 50,080
_____ 10,092,019
1,466,055
-----Total In sight June 23
the past week, the rainfall being forty-seven hundredths of an
12,004
2,056,502
2,069.778
N orth, spinners' takings to Junc23 11,525
inch. Average thermometer 80, highest 92, lowest 68.
Paris, Texas.— The week’s rainfall has been eighty-four
* Decrease during week.
hundredths of an inch on one day. The thermometer has
Movement into sight in previous years:
averaged 85, the highest being 102 and lowest 07.
Bales.
Week—
Bales.] Since Sept. 1—
.13,156,326
San Antonio, Texas.— There has been rain on one day
1909— June 25________________ 75,427 1908-09— June 25.
..10 ,9 3 2 ,7 1 3
1908— June 2 7 .....................
00,129 1907-08— June 27.
during the week, the rainfall reaching thirty hundredths of an
...13,037,201
1907— .June 2 8 _______ ______. 48,180 1906-07— Juno 2 8.
The thermometer has averaged 85, ranging from
.-10,574,623 inch.
1906—June 2 9 ___
70,285 1905-06—Juno 2 9.
Q U O TATIO N S FO R M ID D L IN G COTTON A T O T H E R 70 to 100.
Weatherford, Texas.— There has been rain on one day the
M A R K E T S .— Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for past week, the rainfall being five hundredths of an inch. The
thermometer has ranged from 70 to 105, averaging 88.
each day of the week.
00 o s O O S O O O O O O M t S A Q O 'y iC O M O M O M O S O O llW lO O O iM O M O S C 'N it t
J ig
1710
T H E C H R O N IC L E
Ardmore, Okla.— The week’s rainfall has been seventeen
hundredths of an inch on two days. The thermometer has
averaged 87, the highest being 106 and lowest 68.
Marlow, Okla.— There has been rain on two days during
the week, to the extent of forty-eight hundredths of an inch.
The thermometer has averaged 88, ranging from 67 to 110.
Oklahoma, Okla.— We have had rain on one day the past
week, the rainfall being twenty-one hundredths of an inch.
The thermometer has ranged from 63 to 106, averaging 85.
Tulsa, Okla.— We have had rain on two days of the week,
the precipitation being sixty-eight hundredths of an inch.
Average thermometer 85, highest 106, lowest 65.
Alexandria, La.— It has rained on two days during the
week, the rainfall having reached one inch and seventy-six
hundredths. The thermometer has averaged 83, the highest
being 97 and the lowest 68.
Amite, La.—-There has been rain on three days during the
past week, the precipitation being three inches and five
hundredths. The thermometer has averaged 83, ranging
from 68 to 98.
New Orleans, La.— W e have had rain on five days during
the week, the rainfall reaching four inches and two hun
dredths. The thermometer has ranged from 71 to 96,
averaging 83.
Shreveport, La.— W e have had rain on three days the past
week, the rainfall reaching one inch and eight hundredths.
Average thermometer 84, highest 99, lowest 70.
Meridian, Miss.— W e have had rain on three days of the
week, the rainfall reaching one inch and nineteen hundredths.
The thermometer has averaged 83, the highest being 98
and the lowest 68.
&
Vicksburg, M iss. — There has been rain on six days during
the week, to the extent of seventy-one hundredths of an inch.
The thermometer has averaged 80, ranging from 70 to 95.
Yazoo City, Miss. — There has been rain on four days during
the week, the rainfall reaching one inch and sixty-three
hundredths. Thermometer has ranged from 70 to 99,
averaging 85.
Fort Smith, Ark.— W e have had rain on three days the past
week, the rainfall reaching twenty-two hundredths of an
inch. Average thermometer 85, highest 102, lowest 68.
Helena, Ark.—-W e have had rain on six days of the week,
the rainfall reaching two inches and seventy-five hundredths.
The thermometer has averaged 83, the highest being 99
and the lowest 71.
Little Rock, Ark.— There has been rain on four days during
the week, the rainfall reaching fifty-eight hundredths of an
inch. The thermometer has averaged 81, ranging from
67 to 96.
Texarkana, Ark.— W e have had rain on one day the past
week, the rainfall being twenty-five hundredths of an inch.
The thermometer has ranged from 69 to 99, averaging 84.
Chattanooga, Tenn.— We have had rain on five days of the
past week, the rainfall reaching one inch and forty-five
hundredths. Average thermometer 82, highest 96, lowest 68.
Memphis, Tenn.— Moisture has been of great relief to
crops, which were beginning to suffer. W e have had rain on
five days of the week, the rainfall reaching seventy-five hun
dredths of an inch. Weather now threatening. The thermom
eter has averaged 81, the highest being96and the lowest 69.
Nashville, Tenn.— There has been rain on three days during
the past week, the precipitation being ninety-one hundredths
of an inch. The thermometer has averaged 83, ranging
from 68 to 98.
Mobile, Ala.— Good and beneficial rains throughout the
interior. Crop reports are very favorable. It has rained
on four days of the week, the rainfall reaching one inch and
thirty-nine hundredths. The thermometer has ranged from
70 to 92, averaging 80.
Montgomery, Ala.— Timely rains. Crop reports are good.
W e have had rain on five days during the past week, the
rainfall being fifty-five hundredths of an inch. Average
thermometer.80, highest 100, lowest 68.
Selma, Ala.— It has rained on six days during the week,
the rainfall having reached forty-seven hundredths of an
inch. The thermometer has averaged 81, the highest being
100 and the lowest 71.
Thomasville, Ala.— There has been rain on two days dur
ing the week, to the extent of one inch and ten hundredths.
The thermometer has averaged 84, ranging from 65 to 104.
Madison, Fla.— It has rained on one day of the week, the
rainfall reaching seventy-two hundredths of an inch. The
thermometer has ranged from 68 to 102, averaging 85.
Tallahassee, Fla.— We have had rain on one day the past
week, the rainfall reaching two inches and sixty hundredths.
Average thermometer 83, highest 96, lowest 69.
Atlanta, Ga.— W e have had rain on five days of the week,
the rainfall reaching eighty-seven hundredths of an inch.
The thermometer has averaged 81, the highest being 96 and
the lowest 66.
Augusta, Ga.— There has been rain on five days during the
past week, the precipitation being three inches and ninetyone hundredths. The thermometer has averaged 81, rang
ing from 66 to 96.
Savannah, Ga.— W e have had rain on four days during the
week, the rainfall reaching four inches and thirty-five hun
dredths. The thermometer has ranged from 65 to 99, aver
aging 80.
Charleston, S. C .— It has rained on twodaysof the week, the
rainfall reaching nine hundredths of an inch. The thermom
eter has averaged S3, the highest being 92 and the lowest 73.
[V O L .
LXXXXI1.
Greenville, S. C .— There has been rain on three days during
the past week, the precipitation being one inch and seventyfour hundredths. The thermometer has averaged 81, rang
ing from 67 to 95.
Florence, S. C .— There has been rain on two days during
the week, the rainfall reaching one inch and ninety-four hun
dredths. Thermometer has ranged from 67 to 98. averag
ing 82.
’
Spartanburg, S. C .— Rain has fallen on one day of the
week, the rainfall reaching seventy-three hundredths of an
inch. Average thermometer 80, highest 96, lowest 64.
Charlotte, N . C. There has been rain on two days of the
week, to the extent of fourteen hundredths of an inch. The
thermometer has averaged 82, the highest being 96 and the
lowest 68.
Greensboro, N . C .— There has been rain on three days dur
ing the week, to the extent of one inch and twenty-six hun
dredths.
I he thermometer has averaged 75, ranging from
o7 to 92.
Raleigh, N . C .— It has rained on two days of the week, the
rainfall reaching forty-two hundredths of an inch. The
thermometer has ranged from 64 to 92, averaging 78.
W O R L D ’S SU P P L Y A N D T A K IN G S OF COTTON.
Cotton Takings.
Week and Season.
1910-11.
1900-10.
Season.
Week.
1 Week.
Season.
Visible supply June 1 0 _______ 2,711,3 11 ___ . - - 2.710.846
Visible supply Sept. 1__
1,495,514
1,931,022
American In sight to June 2 3___
50,689 11,466,055
54,064 10,092,019
Bom bay receipts to June 2 2 __
40.000 2,326,000
28,000 3,074,000
Other India shlp’ ts to June 2 2 ..
16,100
371,300
18,000
431.000
Alexandria receipts to June 21600 1,007,600
1,000
654.000
Other supply to June 21 *____
12.000
279,000
10,000
236.000
T otal su p p ly_________________ 2,830,730 16,045,469 2,821,910 16,418,041
Deduct—
Visible supply June 23_________ 2,605,257 2,605.257 2,588,541 2,588,541
T otal takings to June 2 3 ______
225,473 14,340,212
233.369 13.829.500
Of which A m erican_____
142,773 10,765,312
167.369 10.060.500
Of which o t h e r _____________
82,700 3,574,900
66,000 3,769,000
* Embraces receipts In Europe from Brazil, Smyrna, W est Indies, &c.
IN D IA COTTON M O VEM EN T FROM A L L PORTS.
1910-11.
June 22.
Receipts at—
1909-10.
I Since
Week. Sept. 1.
Bombay_______________
Week.
Since
Sept. 1.
Week.
* 10,000j2,326,000 28,000 3,074,000 23,000 2,037,000
For the Week.
Exports
from—
1908-00.
Since
Sept. 1.
Since September 1.
Great Conti- |Japan
Britain. nenl. tkChlna
|
:
Bombay—
1910-11*
15,000 5,000
190910.
1,665
7.000 17,000
1908- 09. 2,000 ------- 8,000
Calcutta—
____
191011.
____ ! l.ooo'
190910.
—
3,000 .........!
1908- 09. ......... 1,000 ____
Madras—
191011.
____
____ 1
100;
190910. - 1,000 ____
----1908- 09. ........
1,000 1,000
AU others191011.
4,000
lo.ooo! 1,000
190910.
3,000
li.o o o ____ !
1908-09.
1,000 10,000j 3,000
Great | ContiJapan
Total. Britain. | nenl. it- China. Total.
|
20,000
56,000 851,000 518,000 1,425,000
93,000 917,000 833,000 1,843.000
25,000
10,000
23,000 548,000 616,000 1,187,000
1,000
3,000
1,000
3,000;
3,000
5,000
33,000
40,000
39,000
19,000
46,000
31,000
55,000
89,000
75,000
100
1,000
2,000
8,000'
4,000;
4,ooo;
18,000
16,000
20,000
300
1,000
1,000
26,300
21,000
34,000
15,000
14,000
14,000
43,000 234,000
27,000; 280,000
18,000, 252,000
13,000
8,000
58,000
290,000
321,000
328,000
Total all1910-11_. 4,000 25.000 7,100, 30,100
1909-10. . 4,000 22,000 17,000: 43,000
__1903-09_. ________________________
3,000 12,0001 12,0001 27,000
* This year's figures estim ated.
110,000 1,136,000
127,000,1,259,000
50,0001 859,000
A L E X A N D R IA
REC EIPTS
AND
1
550,300 1,796,300
888,000 2,274,000
715,0001,624,000
S H IP M E N T S.
1
Alexandria, Egypt,
June 2 1.
1910-11.
1909-10.
1908-09.
Receipts (cantars)—
This w e e k _____ _
Since Sept. 1 ____________
4,500
7,556,509
2,500
4,902,275
2,500
0,663,066
Since
This
W eek. Sept. 1.
Since
This
Week. Sept. 1.
This
Since
Week. Sept. 1.
1,2 50 208,813
214,497
5,500 384,312
1,000 118,244
1,750 149,037
1,500 1 19,807
282,869
750 59,767
184,487
__ 203,071
1,750 334,255
— 84,011
Exports (bales)—
To
To
To
To
L iverpool____________
M anchester__________
Continent
...
A m erica_____________
1,750 805,824
T otal exports________
7,750 925,866 4,000 611,480
N ote.— A cantar Is 99 lbs. E gyptian bales weigh about 750 lbs.
M A N C H ESTER M A R K E T .— Our report received by cable
to-night from Manchester states that the market continues
quiet for both yarns and shirtings. Productions is being cur
tailed moderately.
We give the prices for to-day below
and leave those for previous weeks of this and last year for
comparison.
1911.
8% lbs. Shirt Cot 'n
ings, common Mid.
Upl's
to finest.
32* Cop
Twist.
May
5
12
19
26
J’ne
2
9
16
23
d.
d. H. d.
10 13-16®
10 15-16®
10 15-16®
10%
@
11%
11%
11%
11%
11
®
11 1-16®
11 1-16 -4
<§>
11% 6
11% 6
11% 6
6
6
6
6
6
g. d.
d.
d.
1%@11 4 8.23 10 11io @ l l
1%@11 4 8.42 10% @
1%©11 4% 8.40 10% @
1%®11 4% 8.28 10% ®
1% ® 11
1 % «1 1
1%4>H
0% @11
4%
4%
5
4
8.33
8.31
8.27
8.21
8% lbs. Shtrt- Cot’n
ings, common Mid.
to finest.
U plj
32i Con
Twist,
d. s. d.
7-16
11%
11%
11%
*. d.
5 8 @10
5 9 @10
5 8 % ® 10
5 8% @ 10
10% ® 11% 5
10 15-16® 11% 5
10% ® 11% 5
109-16® 11 5 16 5
8 @10
8 @10
7 @10
0 % @ 10
d.
4%
6
6
6
7.05
8.12
8.04
8.04
5
6
6
5
7.94
8.23
8.09
8.05
T H E C H R O N IC L E
J u n e 2 4 1 9 1 1 .]
SH IPPIN G
N E W S .— As shown on a previous page, the
exports of cotton from the United States the past_ week have
reached 20,366 bales.
The shipments in detail, as made
un from mail and telegraphic returns, are as follows:
*
Total bales.
260
N E W Y O R K — T o Liverpool— Juno 16— A rabic, 260___________ ____
T o Manchester— June 15— Titian, 30 upland, 528 Sea Island—
008
T o Brem en— June 21— Prlnz Friedrich Wilhelm, 2,761--------------2 ,/0 1
T o H am burg— June 20— President Lincoln, 282________________
282
T o A ntw erp— June 16— Lapland, 100___________________________
100
T o Genoa— June 16— Koenlgen Lulse, 300____June 10— San
Giorgio, 1 20____June 2 i — Batavia, 8 6 4 _ _____________________ 1,^84
T o Naples— June 10— Koenlgen Lulse, 7 5 ------ June 19— San
Giorgio, 2 5 ________________________________________ __________ 100
T o Leghorn— June 16— Calabria, 100---------------------------- ---------100
119
T o Venice— June 16— Martha W ashington, 119-------------------------N E W O R L E A N S — T o Bremen— June 21— Colonlan, 6 ,0 0 0 ............... 0,000
T o R otterdam — June 19— Klngstonian, 188-------------------------------£38
T o A ntw erp— June 21— Chaucer, 603----------------------------------------ooj
M O B IL E — T o Hamburg— June 20— Georgia, 1,862-------------------------- l.»0 2
SA V A N N A H — T o R otterdam — June 21— Langlstan, 100----------------wo
T o Barcelona— June 17— Alberta, 2,400------------------------------------- ^ rn
T o Genoa— June 17— Alberta, 50-----------------------------------------------T o Trieste— June 17—-Alberta, 500--------------------------------------------;}u0
T o Christiania— June 21— Langistan, 2 0 0 . . -------- -----------------------200
T o Gothenburg— June 21— Langlstan, 100------------ ------ i°°
BOSTON— To Liverpool— June 16— Devonian, 3 3 ------June 20— Zee122
land, 25. ..J u n e 21— Sagamore, 64---------------------------- ----------T o Yarm outh— June 12— Prince Arthur, 12-------------------------------12
B ALTIM O R E — To Liverpool— June 16— Vedam orc, 394----------------394
T o Bremen— June 21— Cassel, 2,071------------------------------------------2 ,!?Zi
S E A T T L E — To Japan— June 19— Minnesota, 200---------------------------200
T otal-------- ------------------------------------------------------------------------- 20,366
L IV E R P O O L .— By cable from Liverpool we have the fo l-
Of which speculators took .
O f which exporters to o k —
Sales, A m erican---------------------T otal sto k— Estimated —
Of which A m erican_____
T otal Imports of the w eek .
June 9.
9,000
1,000
June 2.
25,000
1,000
1,000
19,000
1,000
62,000
780,000
.664,000
32,000
22,000
.219,000
74,000
June 16.
26,000
1,000
2,000
19,000
7,000
80,000
750,000
615,000
41,000
20,000
102,000
46,000
7,000
4,000
42,000
795,000
664,000
52,000
37,000
107,000
57,000
June 23.
15,000
300
400
12,000
4,000
31,000
748,000
610,000
32,000
25,000
73,000
23,000
1711
quite as often improves. Very large operators, it is notice
able, have been good buyers, and commission houses have
been encouraging their following to buy. One report was to
the effect that Nebraska would raise only 40,000,000 bushels
winter wheat, against 34,000,000 last year, the smallest crop
in ten years, all the others exceeding 40,000,000. The
Northwestern markets have been strong, but as usual Chicago
has been the hotbed of bull speculation. The world’s ship
ments have fallen off noticeably, reaching only 10,960,000
bushels, against 12,512,000 in the previous week. Europe’s
visible supply has decreased sharply. Some bad crop reports
have come from Germany and Hungary. On the other hand,
many consider the reports of damage as grossly exaggerated,
and not a little sarcasm has been heard at the expense of
what are popularly termed “ crop killers.” It is argued that
the Northwest could lose 100,000,000 bushels and still raise
as much as last year. Besides, of late the indications have
pointed to cooler weather with rains. Good rains are re
ported in some parts of the Southwest. European markets
have plainly viewed the alarmist crop reports from the West
with suspicion and have shown a degree of apathy which has
greatly disappointed speculators for the rise on this.side of the
water. The comparative sluggishness of European markets
was attributed partly, however, to favorable crop news from
various European countries and also from Argentina. 1 imely
rains in our own Northwest would, it is believed by many,
still do wonders. But in the meantime the season of “ crop
scares” has opened and a large short interest is believed to
have been practically eliminated, whereby the “ technical
position” has been theoretically, at least, sensibly weakened.
Export business has been injured by the advance in prices.
The transactions have kept within very narrow bounds.
Wheat futures to-day moved downward under more favor
able crop and weather advices, both domestic and foreign,
reports of good threshing returns and selling by leading
interests.
A IL Y CLOSING PR IC E S OF W H E A T F U T U R E S IN NEW Y O R K .
The tone of the Liverpool market for spots and futures D
1
Sat. M on. Tues. Wed. Thins. F n .
each day of the past week and the daily closing prices of N o . 2 rod ....... ..........................- .......... 94 %
95% 97
95 % 96 % 96%
Spot.
Market,
12:15
P. M.
1
1
J
Saturday.
Monday.
Tuesday.
Dull.
More
demand.
Quiet.
Wednesday 'Thursday.
Friday.
Easier.
96% 9 7%
96%
95 A
July delivery In elevator--------------- 94 Ml 96
Septem ber delivery In elevator------ 93 %
95 % 96 Mi 96 %
96 X
96
D A IL Y CLOSING P R IC E S OF W H E A T F U T U R E S IN CHICAGO.
Sat. M on. Tues. Wed. Thurs. F ri.
July delivery in elevator------------------86 % 88% 90
90%
90
89 Is
Septem ber delivery In elevator------ 86 %
88 % 8 9% 90 %
90,2
39%
December delivery In elevator--------89 %
91
92 % 92 % 93 % 92 A
Indian corn has advanced, partly in sympathy with wheat
and partly owing to some adverse crop accounts from south
HOLI
ern Kansas and the Southwest, generally owing to hot dry
HOLI7,000
5,000
6,000
4,000
DAY.
DAY.
300
200
500
300
weather. The world’s shipments reached only 4,405,000
Spcc.&exp.
bush., against 5,344,000 in the previous week. Y et cash
Quiet at Demorallzd Steady at Steady at
Futures.
corn has been more or less depressed, even when futures
Market
\ 1 %®)4 pts. 10 ■” 12 pts. 1® 2% pts. 1% (■' 3 %
pts. adv.
decline.
decline.
opened
1 advance.
under the spur of speculation have advanced. Cash houses
Quiet at Very ste’dy Quiet at
have been selling July, and that month has been at a notice
Market, 1 Quiet at
4
@
6
%
pts.
at
2®
9
pts.
4
i 1(«<1% pts. 12%'<£>15
able discount. There has been some heavy selling of Sep
decline.
advance.
pts. <0 o.
P. M. J advance.
tember by prominent interests. On the other hand, the
The prices for futures at Liverpool for each day are given Southwest has been buying to some extent, though most
below. Prices are on the basis of upland, good ordinary people are averse to taking a decided stand on the bull side
clause, unless otherwise stated.
at this stage of the season. Very few seem seriously to be
The prices are given in pence and 100llu. Thus: 8 07 means 8 7-lOOrf.
lieve that any grave injury has been done to the crop by the
period of hot, dry weather at the Southwest, especially as
Fri.
W ed.
Thurs.
Mon.
Tues.
June 17
Sat.
that section has latterly had more or less rain. Prices to-day
1v
------4
4 12%
4
12%
4 12%
4 12%
12% 12%
declined under liquidation on reports of more favorable
p.m. p.m . p.m. p.m . p.m . p.m. p.m. p.m. p.m. p.m. p.m. p.m.
weather W est.
Mld.upl’ds.
8.17
8.27
June-July . . . .
Ju ly-A u g........
A ug.-Sept S ept.-O ct. - - O c t.-N o v . —
N ov.-D ec. - . . .
Dec.-Tati.
Jan.-Feb . . _
F e b .-M c h .____
M ch .-A p r..........
8
7
7
7
7
7
7
7
7
7
7
07
94 %
89 %
62 %
28
13%
08
07
07
07%
08 %
97
84 %
79%
53
17%
03 %
98
97
97
93
98%
8.16
97% .96
79% 83
74 % 78
48
51 %
14% 14%
00 % 01
95
95
94
94
94
94
94
95
95% 95%
8.21
01 % 03%
38% 90%
83% 85%
56 % 57 %
17 %
17
03
03
97% rD7
96% 96
96% 96
96%
07
97% 07
97
83%
78 %
50 %
12
HO L I97
DA Y .
91
90
90
90%
91 %
HO L IDA Y .
B R E A D S T IJ F F S .
Friday Night, June 23 1911.
Flour has continued for the most part quiet, buyers as a
rule still adhering tenaciously to the policy of purchasing
from hand to mouth.
It may be that when they can get a
clearer idea of the size of the prospective wheat crop and of
the ultimate drift of wheat prices, their attitude may change,
but however this may be, for the time being at least, their
buying is still dictated by the rigid conservatism with which
everybody is familiar. Within a day or two the rise in wheat
has been reflected in a somewhat firmer tone in the flour mar
ket, and some buyers, fearing a rise in flour, have increased
their purchases somewhat.
Wheat advanced sharply at the opening of the week,
mainly owing to reports of damage to the crop in South Da
kota . It was asserted that the crop in that State has suffered
serious injury, that it would not be much more than half
that of last year, &c. Like accounts have also been received
from Northwestern North Dakota.
I lie yield in the
Janies River Valley, it was loudly asserted, has been greatly
reduced by high temperatures. Pastures in South Dakota
arc said to be brown, and that not only will the wheat
crop in that State decrease sharply by reason of
hot, dry weather, but that the condition of oats
and barley crops is also bad from a lack of grain. Some
elevator people assert that the crop of wheat in South Dakota
will be the smallest since 1887. Some well-known crop
statisticians have been sending out doleful reports. They
often do at this stage of the season, and later on the outlook
D A IL Y CLOSING PR IC E S OF NO. 2 M IX E D CORN IN NEW ^VORK.
Sat. M on. Tues.
nom . nom .
r
. nom . nom . norn.
Cash co rn _________________________ nnom
9,,n«2
62 % 63 % 62 %
61 H 61 % 63
July delivery In elevator. _ _ ------- 615s
F CORN FU T U R E S
D A IL Y CLOSING PRICJ
Thurs. F ri.
i
Sat. M on. Tues. Wed.
54%
July delivery in elevator---------------- 54
X 55 % 56 % 57 % 57 % 56 %
58 %
55%
September delivery In elevator------- 55
V 56 J< 58 % 59 X 59%
58 H 58 X 57 Vi
55% 57%
- 54%
December delivery In elevator--------54
%
Oats have advanced on bad weather reports about oats,
hay and the pastures. Concerning oats, many gloomy re
ports have been received from South Dakota, Minnesota,
Iowa and Illinois. Many are the more disposed to give
credence to such advices from the fact that the last Govern
ment report was unfavorable. September lias sold at the
highest price of the season. Cash prices have risen and the
speculative buying of futures has been heavy and aggressive.
To-day prices were lower under realizing sales.
D A IL Y CLOSING PR ICE S OF OATS IN NEW Y O R K .
,
Sat. M on. Tues. Wed. Thurs. T ri.
S ta n d a r d s ___________ ___________ - 4 4 %
44 x 46
4 7%
48
48
N o. 2 w h i t e . . . _____ _____________• 45
45
46 % 48
48%
48%
D A IL Y CLOSING P R IC E S OF OATS F U T U R E S IN CHICAGO.
Sat. M on. Tues. Wed. Thurs. F ri.
4 2 % 42% 42
July delivery In elevator--------------- 38
38% 40%
43 % 4 3 14 43
Septem ber delivery In elevator------ 39%
3 9% 41 f s
44% 45% 4 4%
December delivery In elevator--------40%
4 1% 43 %
The following are closing quotations:
FLOUR
Winter, low grades____ $2 7 5® $ 3 25 Kansas straights, caok.$4 0 0 ® 3 4 40
W 'n er patents_________ 4 50® 4 70 Kansas clears, sacks---- 3 3 5® 3 70
Winter stra ig h ts______ 4 0 0® 4 25 City patents___________ 5 9 0 ® 8 30
Winter clears__________ 3 4 5® 3 70 R ye flour_______________ 4 9 5® 5 50
Spring patents-------------- 5 0 0 ® 5 2a Graham flour__________ 3 9 0 ® 4 on
Sprl g straights_______ 4 4 0® 4 60 Corn meal kiln d r ie d .. 2 8 5 ® 3 00
Spring clears___________ 3 9 0 ® 4 2.>
G R A IN .
Corn, per bushel—
Cents
W heat, per bushel— f.o .b ,
No. 2 ................... f.o .b .
63%
N. Spring. No. 1---------------31 0®
S team er_______elevator
Nominal
N. Spring, No. 3 ---------------1 04 t
No. 3 ..............elevator
Nominal
R ed winter. No. 2 ________
96 h
Hard winter. No. 2 -----------9 8% R ye. per bushel—
No. 2 W estern..............
Nominal
Oats, per bushel, new—
Cents.
State and Pennsylvania
Nominal
Standards_________________
48
N o. 2 white_______________
48% Barley— M a ltin g ________ 1 13@ 1 18
No. 3 white_______________
47 %
For other tables usual!y g'ven here, see page 1680.
1712
T H E C H R O N IC L E
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports June 17 1911, was as follows:
AMERICAN GRAIN STOCKS.
Wheat,
Oats,
Corn,
bush.
bush.
bush.
394,000
New Y o r k ....................
422,000
530,000
Boston - ........................
208,000
___
283.000
Philadelphia...............
117,000
15.000
25,000
Baltimore......................
169,000
332,000
75,000
New Orleans................
6,000
165.000
135,000
Galveston..............................71,000
10.000
______
Buftalo.......................... 1,999,000
824,000
885,000
T o le d o ..........................
271,000
138,000
214,000
D etroit.......... .......... . 164,000
186,000
6,000
Chicago.......................... 8,297,000
1,350,000
4,861,000
Milwaukee.....................
105,000
234,000
232,000
Duluth.............
2,590,000
282,000
557,000
Minneapolis.......... ..........8,812,000
230,000
481,000
St. L ou is____________ 1,000,000
312,000
72.000
Kansas City__________
518,000
351.000
61.000
______
Peoria_______________
55,000
1,210,000
Indianapolis.......... ........ 123,000
301,000
145,000
506,000
On Lakes____________
535,000
323,000
On Canal and River__
203,000
9,000
338,000
Rye.
bush.
__
2,000
Barley,
bush.
21,000
6,000
_
392.000
6,000
9,000
98,000
5,000
137,000
60,000
3,000
18,000
104,000
Total June 17 1 9 1 1 ..2 5 ,643,000
6,036.000 10,153 000
Total June 10 1911.-25,971,000
5,353,000
9,413,000
Total Juue 18 1910.-15,100,000
5,533,000
5,344,000
CAN ADIAN G R A IN STOCKS.
22.000
31.000
447,000
839.000
866.000
1,643,000
Oats,
bush.
564.000
1.659.000
1.582.000
792.000
Rye,
bush.
Barley,
bush.
31,000
Wheat,
bush.
Montreal........................
800,000
Fort William............ . 1,775,000
Port Arthur.................. 1,076,000
Other Canadian............. 1,433,000
Total June 17 1011 __ 5.084,000
Total Juno 10 1911.. 4,901,000
Total June 18 1910.. 5,240,000
Wheat,
bush.
American .................... 25,643,000
Canadian.............. ....... 5,084,000
Corn,
bush.
118,000
______
- .........
______
118,000
4.597.000
250,000
5.732.000
51,000
630,000
SUMMARY.
Corn,
Oats,
bush.
bush.
6,036,000 10,153,000
118,000
4,597,000
Total June 17 1911.-30,727,000
Total June 10 1911-.30,875,000
Total June 18 1910.-20,340,000
6,154,000
5.603,000
5,584,000
T H E
G O ’^ D S
D R Y
14,750,000
15,145,000
5,974,000
31.000
40.000
127.000
Rye,
bush.
22,000
...........
Barley,
bush.
839.000
31.000
22,000 870,000
31,000
906,000
447,000 1,770,000
T R A D E .
23 1911.
Demand for staple cotton goods improved slightly during
the week, a large portion of the orders received coming from
road salesmen, but the tendency among buyers to purchase in
small quantities became more general, and although the
aggregate reached fair proportions, all things considered, the
character of the demand continued decidedly unsatisfactory
to mills. The amount of business being placed in anticipa
tion of future requirements is much lighter than is usually
expected at this season of the year, and there appears to be
little, if any, prospect of a material change for the better in
this respect until possibly next month, when jobbers from
various sections of the country are expected to enter the
market, or until the outlook for cotton, in the matter of
yield and prices, becomes more clearly defined. At present
hope is entertained of a large crop, and consequently lower
prices, which is one of the reasons advanced for the hesitancy
among buyers; sellers, however, point out that cotton goods
prices generally are now below parity with the staple, and
that it will be several months before goods made from new
cotton will come on the market. Furthermore, in view of
the fact that stocks of numerous staples in first hands are
already limited and being steadily reduced by frequent pur
chases of small lots, and that curtailment of production is
increasing, it is argued that prices for some time to come are
likely to rule firm, to say the least. Because of these and
other well-known conditions, many sellers would not be sur
prised to see a sharp uplift in goods prices should a brisk
demand suddenly develop. During the past week the cotton
goods market, although quiet, ruled generally firm, with a
stronger tone noted in some lines, and difficulty experienced
by buyers, particularly in heavy brown cottons, in securing
the best grades of staples for immediate delivery in quantities
desired. Cotton yarns were fairly steady and in some quar
ters better inquiries were reported; but the improvement in
business done was not marked. A noteworthy feature of
the week was the opening of additional lines of merchandise
for spring 1912, including cotton hosiery at prices slightly
lower on the average than last year, owing to expectations
among manufacturers that raw material will decline; lines
of silk hosiery which were opened also showed some reduc
tions. The response from buyers on these and other goods
offered for spring has thus far been only moderate. Woolen and
worsted men’s wear and dress goods markets remained quiet.
DOMESTIC COTTON GOODS.— The exports of cotton
goods from this port for the week ending June 17 were 12,702
packages, valued at §780,687, their destination being to the
points specified in the table below:
------ion -----------'loio-----N ew Y o r k , F r id a y N ig h t, J u n e
New York to June 17—
Great Britain__
Other E u rop ea n ..
China---------- --------------India _________________
A rabia___________________
A f r i c a ______________________
W est Indies_________________
M e x i c o ________________ ____
Central A m erica___________
South A m erica______________
Other countries___________ . .
T otal -------------------------- -
W eek.
9,382
28,4 18
19,255
250
51
338
45
192
1,129
319
Since
Jan. 1.
1,039
563
33,690
7,113
5,585
1,730
13,342
026
4,307
24,082
20,172
152,437
7,823
112,549
Since
Jan. 1.
405
511
4,843
12,702
W eek.
16
5
I he value of these New York exports since Jan. 1 has been
§11,121,952 in 1911, against §7,869,601 in 1910.
Domestic cottons continued to be taken steadily, but
[VOL.
LXXXXU.
usually in small quantities for immediate or near-by use;
instances of bulk or forward buying were exceptional.
Heavy brown cottons were very firmly held, reflecting cur
tailment and small supplies. Likewise denims, tickings and
colored cottons generally, although in moderate request,
displayed a strong tone. Staple prints and bleached goods
were quiet but steady. Orders for staple ginghams were light
and scattered; new lines of dress ginghams for next spring
delivery moved steadily but slowly. The export trade re
mained generally quiet; moderate sales, mostly of sheetings
and drills, were reported for China account, while Manila
took some goods, including prints. Print cloths were in light
demand, orders consisting principally of small scattered lots;
offerings by second hands and certain small mills at conces
sions were again reported, but no large quantities were avail
able below market quotations, which remained unchanged
from the preceding week.
WOOLEN GOODS.— In the men’s wear division some
well-known mills named prices for spring on cheap fabrics,
including unions, cotton worsteds and cassimeres without
much change; business placed so far on these lines is rather
light and confined mostly to sample pieces. Openings of
staple fabrics for spring are awaited with much interest;
prices have not yet been formally announced, but buyers are
expecting reductions. It is reported that certain worsted
piece-dyes will be from 5c. to 10c. a yard lower than last year,
and that attractive prices will also be named on woolens.
Further orders were placed on fine serges for spring at the
at value basis; the total, however, was not large. Except
in a few quarters, duplicate orders on heavyweight fabrics
from clothiers were small in the aggregate. Scattered repeat
orders on staple lines of dress goods for fall were received,
but the market generally continued quiet. In coatings a fair
amount of business was done, chiefly with the cutting-up
trade on fancy woolens. In suitings for immediate delivery,
cream serges have been quite active, Western distributers
and manufacturers particularly having called for additional
quantities. Indications point to a general curtailment by
dress goods mills during the early part of July. The passage
of the House bill lowering the tariff on wool and woolens, and
subsequent developments in the Senate, were disconcerting
to agents handling woolen and worsted goods; they were
surprised by the large majority vote in the House in favor
of the measure, and while they do not look for legislation that
will affect goods prices this year, they fear tariff considerations
will hold business back for some time.
FOREIGN DRY GOODS.— No particular developments
were noted in imported woolens and worsteds; some agents
handling men’s wear fabrics have opened lines for next
spring, with fairly satisfactory results; the majority, how
ever, are deferring their openings until a later date. Dress
linens continued in moderate request, principally from
garment makers for immediate shipment. Burlaps were
fairly active, steady and unchanged.
T H E C H R O N IC L E
J U N E 24 1 91 1 .1
News Item s.
Ann Arbor, Mich.— P u rch a se o f W a ter P la n t P r o p o sed .
According to the “ Michigan Investor,” the Ann Arbor Water
Co., at the request of the city, which has been considering
the question of municipal ownership, has offered to sell its
property for $525,000.
Bayonne, N. J. — R ecou n t o f V o te Show s D efea t o f C o m m is
sio n P la n o f G o v er n m en t. —The recount of the vote cast
June 13 on the commission plan of government (V. 92, p.
1052) showed 2,212 ballots “ for” and 2,217 “ against.” The
first count was 2,234 “ for” to 2,23 7 “ against.” As stated
below, the new form of government was adopted by the voters
of Trenton on June 20.
Chinese Government Loan.— L is t in g . — The Imperial Chi
nese Government contracts “ when issued” for the Ilukuang
Railway 5% sterling bonds have been admitted to quotation
on the New York Stock Exchange. See V. 92, p. 1652.
Des Moine3 , Iow a.— Voters F a v o r M u n ic ip a l O w nership o f
W a ter P la n t. —The election held June 19 (V. 92, p. 1511) re
sulted in favor of municipal ownership of the water works,
the city to acquire same by purchase or construction. The
vote was 3,496 to 1,140. Mayor Hanna says that the next
step is the appointment of a court of condemnation or arbi
tration to consist of three district judges selected by the
Supreme Court of Iowa from the various judicial districts
of the State outside of Polk County. This court will fix the
price and, after this has been done, the matter will be voted
upon at a second election. There were 396 “ for” to 151
“ against.”
Huntsville, Ala.— V oters F a v o r C o m m is sio n P la n o f G o v
er n m e n t. — A favorable vote was cast at the election held
June 19 (V. 92, p. 1511) on the question of adopting the
commission form of government.
Illinois.— S u p r em e C ourt D e c isio n on Inheritance T a x L a w .
— The Supreme Court has declared valid that section of the
new Inheritance Tax Law under which safe deposit concerns,
trust companies and corporations arc compelled to give no
tice to the Attorney-General and State Treasurer before a
box may be opened and property transferred after the death
of the owner. The Court holds that it applied not only to
individual decedents, but in all cases where the decedent
was a member of a partnership doing business in the State.
Constitutionality of the clause was questioned in a suit
filed by the National Safe Deposit Co. of Chicago, against
Andrew Russell, State Treasurer, and Wal er K. Lincoln,
Inheritance Tax Attorney, whose duty it was to enforce the
measure
D is m is s e d . — The
Legislative
B r ib e r y
C ases
R em a in in g
bribery cases involving Representative Lee O’Neil Browne of
Ottawa, Representative R. 1C. Wilson of Chicago, L. D.
Ilirsheimcr of Pittsfield and F. J. Traut of Beardstown and
A. B. Johnston of Chicago have been dismissed. State’s
Attorney Burke has been postponing bringing the cases on
trial on account of the verdict returned in the former cases
and hoping that he would develop more determining evidence
before the matter was tried, \\hen the case of Lee O Neil
Browne was called on June 20 his attorneys asked for an
immediate trial, and Attorney Burke then advised the Couit
that he was satisfied that he could not obtain a conviction
on the evidence at hand, and to continue with the tiial would
be a useless expense. V. 92, p. 894.
Lansing, Mich.— C o m m is sio n P la n o f G overnm ent D efea ted .
— By avote of 2,391 to 1,214, the citizens on June 19 defeated
the proposition to adopt the commission form of government.
Nevada.— L egislature R a tifies F ed eral In co m e T a x A m e n d
m en t. — We have just been advised that a resolution ratifying
the proposed income tax amendment to the Federal Con
stitution was passed by the Legislature and approved by the
Governor on Feb. 8 1911. The vote in the House was 45
“ ayes” to 0 “ nays,” 4 absent, andin the Senate 18 “ ayes
to 0 “ nays,” 1 vacancy.
Newport, K y.— C o m m issio n F o r m o f G overn m en t U pheld
— A dispatch from Frankfort to the Cincinnati “ Times-Star’
says:
(June 17) were oversubscribed more than three times,
over 10,000 bids having been received. The number of
bids received and accepted has not been calculated with
absolute accuracy as yet, but it is believed that the number
of accepted bids is about 1,200 in all. Assistant Secretary
of the Treasury Andrew announced on June 20 that 1,190
proposals had been accepted at the following prices: 103 and
upwards, $2,330,500; 102.75 to 102.99, $18,698,500; 102.50
to 102.74, $11,019,500; 102.25 to 102.49, $16,568,800; 102.21
to 102.24, $1,382,700. The average price received by the
Government is estimated to be about 102.50— a basis of
about 2.905%. The highest bid received was one of
110 submitted for $100 bonds. The next highest offer was
105.50, also for a small lot. A considerable number of the
bids received were for amounts ranging from $100 to $5,000.
The largest single allotment was to Harvey Fisk & Sons and
A. B. Leach & Co. of New York City on a joint bid. They
got $10,000,000 of the bonds at 102.779. The next highest
allotment to any single bidder was that to the Hanover
National Bank of New York. The Hanover gets $6,500,000
of the bonds on bids which range as follows: $500,000 at
103.133, $500,000 at 103.033, $500,000 at 102.933, $750,000
at 102.883, $750,000 at 102.783, $750,000 at 102.633,
$750,000 at 102.533, $1,000,000 at 102.30 and $1,000,000
at 102.283. The National City Bank of New York, which
bid for the entire $50,000,000 issue, got only $1,000,000 of
the bonds, at 102.25, its highest bid. Other large allot
ments were as follows:
T h e C ou rt o t A p p ea ls this a fte rn o o n o v e rru le d the p e titio n fo r a rehearing
In the case o f the c it y o f N e w p o rt again st S ilva , w h ich Is the co m m issio n
fo rm o f g o v e r n m e n t ca s e , an d N e w p o rt ca n n o w g o ah ea d w ith the w o rk o f
ele ctin g th e co m m is s io n .
Trenton, N. J. — G overn m en t by C o m m issio n A p p r o v e d by
plan to adopt the commission form of govern
ment was approved by the electors of this city on June 20
(V. 92, p. 1652) by a vote of 6,792 to 4,890. The total vote
cast was about 66% of the regular vote.
ivvUnited States.— H o u se Rejects A m e n d m en t G ivin g C ongress
Control o f E lection s f o r S e n a to rs. — By a vote of 112 to 172
the House of Representatives on June 21 refused to concur in
the Bristow amendment to the resolution providing for the
election of U. S. Senators by direct popular vote. The
amendment reserves to Congress the right to control such
elections, and as previously stated was adopted in the Senate
by a vote of 45 to 44. See V. 92, p. 1653.
Panam a
B ond
S a le . — The
$50,000,000 3% oO-year
gold coupon Panama Canal bonds offered last Saturday
V o te r s . — The
1713
First Tr.& S.B.,Chlc.
J. I,. Caldwell, Hun
Dominick & Domin
tington, W. Va_.
$40,000 104
ick, New York__
First Nat. Bank,
Seaboard N.Bk.,N.Y.
Live-Oak, Fla___
10,000 103.50
Wm. A. Read & Co.,
First Nat. Bank,
New Y o r k ..........
Terre Haute, Ind.
50,000 103.30
N. W. Harris & Co.,
Bank of Italy, San
Boston..................
Francisco________
100,000
103.1275
Seattle N.Bk.,Seattle
First Nat. Bank,
f
Council Bluffs, la .
10,000 103.10
Hlrsch, Ltllentlial
Harris Trust & Sav.
Co., N. Y ............ |
IJank, Chicago__
100,000 103.09
N. W. Harris & Co.,
Alf.Mestre&Co.,N.Y.
Boston.....................
250.000
103.08
Mabon & Co., N. Y .
Palmetto Nat. Bank,
Knauth, Nacliod &
10.000
103.03
Columbia, S. C—
Kuhne, N. Y ___
First Nat. Bank,
II. P. Goldschmidt &
25.000 103.02
Glasgow, Mont__
Co.,
New York__
Ohio Millers Mutual
Wm. A. Read & Co.,
Fire Ins. Co., Can
New York_______
50,000 103
ton, Ohio............ Irving N. Bk., N. Y
Second Nat. Bank,
Dominick & Domin
50,000 103
Cumberland, Md.
ick, New York__
First Nat. Bank,l 100,000 103
Cleveland ............ / 100,000 102.9375 Everett Rich, N. Y .
Plympton, Gardiner
Hibernia Sav. & L.
& Co., New York.
100.000 102.909
S., San Francisco.
100.000 102.877 Kraus Bros. & Co.,
Folsom&Adams,N.Y.
New York............
100.000 102.875
Denver N. Bk.,l)en.
100.000 102.875 J. H. Millard,Omaha
First N. Bk., Cleve.
First Tr.&S.B.,Chic.
100.000 102.87
First Tr.&S.B.,Chlc.
Seaboard N.Bk.,N.Y.
N. W. Harris & Co.,
Wm. A. Read & Co.,
B oston ................
250,000 102.83
New York_______
Harris Tr.AS.B.,Chic
100.000 102.83
A1f.Mestre&Co.,N. Y.
Fldellty-Plienlx Fire
Blake Bros. <ACo., N.Y.
Ins. Co., N. Y _ — 400,000 102.81
Morris & Smith,N.Y.
Continental Ins Co..
H. P. Goldschmidt &
New York_______
400,000 102.81
Co., New York__
Heldelbach, IckelFirst Tr.& S.B.,Chic.
heimer & Co.,N.Y
250,000 102.78
Jos. Pulitzer, N . Y . . 1,000,000 102.777 II. B. Hollins & Co.,
New York_______
Tower & Sherwood,
Knauth, Nachod &
New York_______
50,000 102.77
Kuhne, N. Y -----Am Ex.N .Bk.,N .Y . 2,000,000 102.777
Brown Bros. & Co.,
Atlantic Nat. Bank,
100.000 102.777
New York_______
Jacksonville, Fla.
250.000 102.7701 Millet, Hoe & Hagen,
Lewlsohn Bros.,N.Y.
New York............
100.000 102.77
Mabon & Co., N. Y .
Blake Bros. & Co.,
f 25.000 102.77
New York_______
50.000 102.64
Halle&Stleglltz.N.Y.l
Kountzc Bros.. N.Y.
75.000 102.51
Mabon & Co., N. Y .
100.000 102.26
Folsom&Adams.N.Y
65.000 102.76
F. H. Krebs, Boston
II. B. Hollins & Co.,
Hibernia S. & I,. S.,
New York_______
San Francisco___
100.000 102.759
Irving Nat. Excli.
Seaboard N.Bk.,N.Y
200,000 102.75
Bank, New York.
First Nat. Bk.,Clev_
100,000 102.75
J. & W. Seligman &
First Tr. & S.B.,Ch.
100,000 102.75
Co., New York__
W. N.CoIer&Co.,N. Y.
15,000 102.70
Dominick & Domin
Galvin L. Payne &
ick, New Y o r k ...
Co., Indianapolis.
100,000 102.675
Wm. A. Read & Co.,
Union Tr. Co., N. Y. 1,000,000 102.65
New Y ork ...........
Mabon & Co., N. Y .
100,000 102.64
Brown Bros. & Co.,
Knauth, Nachod &
New York.......... ..
Kuhne, N. Y ___
100.000 102.6267
Millet,Roe & Hagen,
First National Bank,
New York............
Portsmouth, O __
200,000 102.63
100,000 102.625
250.000 102.625
200.000 102.625
500,000 102.61
250.000
200.000
30.000
30.000
30.000
30.000
100.000
200.000
102.58
102.5625
102.56
102.46
102.36
102.26
102.55
102.53
100,000 102.5167
100,000 102.515
500,000 102.51
250,000 102.503
250.000 102.50
20.000 102.50
250.000 102.50
10.000
400.000
150.000
200.000
102.50
102.50
102.50
102.50
500,000 102.41
100,000 102.41
100.000 102.40
100.000 102.379
100.000 102.3765
150.000 102.375
500,000 102.372
100.000 102.3167
250.000 102.31
100.000 102.30
100,000
250,000
300,000
100,000
102.30
102.271
102.27
102.27
500,000 102.261
250,000 102.253
2,500,000 102.25
750,000 102.25
500,000 102.21
250,000 102.21
250.000 102.21
Contracts for the bonds “ when issued” have been listed
on the N . Y . Stock Exchange.
Walla Walla, W ash.— E lection on C o m m is sio n P l a n .—
Mayor Tausick has called an election for July 10 to ascertain
whether or not the voters are in favor of adopting the com
mission plan of government.
•
Waterloo, Seneca County, N. Y . — Sew er P roceed in gs V a li
d a ted . — A bill has been passed by the Legislature, it is re
ported, validating the preliminary proceedings taken by the
village for the construction of the sewer system started in
1908. This is because suit was brought to prevent the com
pletion of the system. The matter is now pending in the
Court of Appeals, the case having been decided in favor of
the city by Justice Sutherland and the Appellate Division.
See V. 92, p. 477. A bond issue of $90,000 to $100,000 was
voted to pay for the system, which, it is said, was about
one-third built when the injunction was sought.
Wichita, Kan.— C ity R ejects C o m p a n y ’s O ffer to S ell W a te r
P l a n t .— The Topeka “ Capital” states that the City Com
missioners on June 19 decided not to accept the offer of the
Wichita Water Co. to sell its plant for a little over $1,200,000,
but to acquire the same by condemnation. The property,
it is stated, has been appraised by the State Board of Equali
zation at about $625,000. Compare V. 92, p. 1653.
■
1714
T H E C H R O N IC L E
B ond C alls and Redem ptions.
Idaho.— B o n d C a ll. — Interest will cease July 1 on the
following coupon deficiency funding bonds, Series of 1901
Nos. ™ °.5 P°L'l 7 t0 18 incl-> 25 to 42 inch, 49 to 66 incl.
68 to 70 incl., 75 to 88 inch, 90, and 98 to 102 inch They
will be redeemed at the State Treasurer's office in Boise.
Missouri.—-Bond C a lls. — Whitaker & Co. of St. Louis, in
their quotation pamphlet dated June 15, include the follow
ing list of municipal bonds which have been called for
redemption:
Boone Co. Sch. Dlat. N o. 8. 51, 13, 0% b d. N o. 3 for $100, dated July
1908, has been called and will be paid July 1 1911.
Butler Co. Sch. Dlst. Nos. 6, 23, 5, 0% bldg. bds. N os. 1 and 2 for $100
each, dated June 1 1905, have been called and will be paid on demand
Butler Co. Sch. Dlst. Nos. 47, 2, 24, 0% bd. N o. 2 for $100, dated July 1
1907, has been called and will be paid July 1 1911.
E lsberry Sch. Dlst. 5% bds N os. 7 and 8 for $500 each, dated July 1 1904
have been called and will be paid July 1911.
L e b a n o n s c h . Dlst. N o. 42 4 H % ref. bd . N o. 6 for $1,000, dated Jan 1
1896, has been called and will be paid July 1 1911.
Marlon Co. 4% court-house bds. N os. 133 to 152, incl., for $500 each
dated June 30 1911, have been called and will be paid June 30 1911
Mt. Pleasant T w p ., Bates C o., 4>S% railroad bds. Nos. 49 to 54 both
lncl., for 51,000 each, dated June 1 1897, have been called and will be paid
June 1 1911.
■ Paris Sch. D lst., Monroe C o., 5% b d . N o. 5 for $1,000, dated Julv 2 1906
has been called and will be paid July 2 1911.
R ichm ond, M o., Special Sch. Dlst. bldg. bds. N os. 9 and 10 for$500 each
dated July 1 1904, have been called and will be paid July 1 1911.
S tanberry, Gentry C o., 4 % bds. Nos. 1 to 9, Inch, for $1,000 each, dated
July 1 1901, have been called and will be paid July 1 1911.
Sullivan Co. Sch. Dlst. Nos. 5, 63, 18, 5% bhlg. bd. N o. 5 for $500, dated
July 1 1903, has been called and will be paid July 1 1911 .
W illow Springs 5% ref. water bds. Nos. 1 to 5 for $500 each, dated Julv 1
1900, have been called and will be paid July 1 1911.
Ohio County (P. 0 . Wheeling), W . V a .— Bond Call.—The
following 4 ]4 % 10-30-yr. (opt.) bds. of the denom. of $500
each will be redeemed on July 1 at the German Bank of
Wheeling:
Nos. 369, 201, 178, 134, 393, 114, 137, 204, 274, 377, 370, 227, 180
345, 122, 130, 303, 279, 119, 161, 379, 281, 158, 381, 186, 367, 133, 121
338, 209.
Bond Proposals and Negotiations this week
have been as follows:
Tr£KF& R,EF l! ’ £ he.ha,ISrF0U,nty.> W ash.— Bonds Offered by B ankers.— The
F,cY .. f7' UiSt>^ £,av*ngs Bank of Chicago Is offering to Investors $120,000
5 H /4 fun d. bds. Denpm. $1,000. Date June 1 1911 . In t. J . & D . at
the State fiscal agency In New York. Due $12,000 y r ly ., June 1 1922 to
1931, Incl.
r W E.’ p,cl<?ns County, Ala.— Bond E lection.— A n election will
building bonds 3 t0 VOt° ° n ° proposltlon t0 lssue $0,900 5% 25-yr. school-
[VOL.
LXXXXII.
i n t PT 1* ‘ t° »ytr ;h i > b £ ; at
exceedIng 5% int. Date July 1 1911.
Int. J. & J. at the Dist. Treas. office or at any banking house In N . Y .
BRADLEY, Clark County, So. Dak.— Bonds Not Sold.— Bond Offering —
No satisfactory bids were received on June 13 for the $14,000 5% 20-yr.
e x ^ e n d e ^ t w o w e e k s ^ ° 2 ’ P ‘ 158° -
T h e tlm e fo r accep5t i n Y p r o p ^ a l s ° w ^
wiff*h<^hpM
?• Bryan), Tex.— Bond Election.— A n election
R D is T n w C lt.1 ,.t l ’ to votc on the question of issuing road bonds.
B R IS IO W , Creek C ounty, Okla.— Bond O fferin g— J w
Overstreet
tend ^he°wate’r ‘system !^
Sa‘ C $7' 5° ° bUs- votccl ,n March' 1010 t0 ex‘
CALISPEL DIKING DISTRICT NO. 1, Stevens (now Pend Oreille)
J u lT ls ’ b v D ^ R
Athertn^re^
” J?>y'_ 7Board
jP r0 H0S?
?inV|IU be
rcculved
Until
12 m !
R - Atherton,
Sec
of 1Diking
Com
m ., at 620
Fernwell
T?r,$4P>°.00 gold coup. fund. bds. at not exceeding 7 % int.
Denom . $500. Date July 1 1911. Int. annually at the County Treas.
£
‘ u Newport
Due Ju y 1 1921, op t. $8,000 yrly. after 5 yrs. Cert!
check for 2 % of bid, payable to the County Treasurer, Is required.
Middlesex County, Alass — Temporary L oan.— A loan of
$400,000, due in four m onths, has been negotiated, it Is stated, with the
H arvard Trust Co. at 2 ’ * % discount.
CAPE MAY, Cape Alay County. N. J .— Bond Offering .— It, Is stated that
p
bc rebcIvcd until 1:30 p. m. July 5 by Oh as. H .C louting
V lna£ cot Comm ittee, for $20,000 4 H % bridge bonds. Interest
semi-annual. Certified check for 2 % required.
CARROLL COUNTY (P. O. Carrolton), Alo.— Bond Offering.— Proposals
fiVii r»°rJfnni.Ver»iU? t V2 p ' m - JulY 6 by F. W . Gibson, Treas., for $230,000
6% Drainage Dlst. No. 3 bds. Date Sept. I 1911. Int. M. & S. at the
Treas. office. Due yrly. from Sept. 1 1913 to 1930 Incl.
Tnno 9-AP R m P/ P s : Lion County, Iowa.— Bonds Voted.— The election held
' J1
,11® 15 r e s a le ! In favor o f the proposition to Issue the $55,000 sewer bds.
(V . 92, p. 1580), It Is stated
this Issue. Assess, value! $983,740’. Real value (est.), $1,900,000.
Geauga C ounty, Ohio.— Bonds Defeated.— The am ount o f
The' v o t e w a s * * ' tbe clectlon held June 12 (V . 92, p. 1654) was $50,000.
\la 7Vo r ,, *■? 124 "against” an Issue of $20,000 sewage-disposal-plant bds.
f,57.. azalnst” an issue of $10,000 water-intersection bds.
A t,,, ft,, i 126 usuinst” an Issue of $20,000 water-works bds.
iv two-tnirds m ajority was necessary to authorize.
a
E,oyd County, Iow a .— Bond S ale.— The $50,000
tn thn T n u o i t n i i * v ?*ed on AIay 24 (V . 92, p. 1581), have been awarded
n ? ™ m m S L SiCiU[ n C o - of Dcs Moines and E. H . Rollins & Sons
of Chicago at their Joint bid of 101 and blank bd s., plus Interest.
VVa^,ELB
o n r Sale.—
f ^ ^ TYnnC!
1 0 0 llnDlvSTRICT No- 4 6 (I>- O. Wenatchee),
W ash.— Bond
On June
10 the $50,000 20-yr. cou p. bds. (V . 92,
p - 1 13> w e - awarded to W oodln, McNear & Moore of Chic, at 102.88
& Int. for 5s— a bas s of about 4.775'%. Other bids follow:
o n ! & 9 °tV ChicagO-a$50,550 E. II. Rollins & Sons, C hic.6$51,533
E . H . Rollins & Sons, C hic. a50,526 Carstens & Earles, Seattle. 651,056
Larson, Son & C o., C hicago. a50,091 C. II. Coffin. C h ica g o ..
650,501
State o f W ashington--------n50,000 W m . Perkins & Co., Seattle 650,250
Cutter, May & Co., C h ic .. a l9,500| E . H. Rollins & Sons, C hic. c53,650
a For 5s. 6 For 514s. c For 6s.
Date July 1 1911.
n CHEYENNE COUNTY' (P. O. Sidney), Neb.— Bond Sale.— On June 19
the $50,000 5% 5-20-ycar (optional) court-house and Jail'bonds (V .9 2 , p.
1581) were awarded to Cutter, May & Co. of Chicago at 100:51, interest and
blank bonds. Other bidders were:
E. II. Rollins & Sons, Denver— Par and Interest, cou n ty to allow $1,430
„ fT
°Tr attorneys fees, blank bonds and Incidental expenses.
C- H - Coffin. Chicago— $251 premium.
mV , ,, orbert. Sidney, N eb.— $20 premium on any two of the $1,000 bonds.
W oodln, McNear & Moore, Chicago—$50,025, Int. and blank bonds,
t v m 5 ° ? “ , Co., Detroit— $50,060 and furnish blank bonds.
■ •
» .
tz * C o., Chicago— $50,051, Int. and blank bonds. County to pay
$o00 for cost of legal exam ination, blank bonds, &o.
Ih os. J. Bolgcr C o., Chicago— $50,026, Int. and blank bonds.
CHICKASHA, Grady County, Okla.— Bonds Proposed.— A ccord ing to
local papers, a com m ittee from the Chamber of Commerce proposed an Issue
of $75,000 park bds. at the meeting o f the City Council held June 15. It Is
further stated that definite action on the m atter was deferred until the next
meeting o f the Council.
4
were
__________ _____
and Int.— a basis of about 4*253%. Other bids follow:
First National Bank-------- $15,173 OOlStacy & Braun. T o le d o ...$ 1 5 ,1 5 5 40
New First Nat. Bk., C ol._ 15.165 75|seasongood & Mayer, C ln. 15,079 00
ATTLEBORO, Bristol County, M ass.— Bond Offering.— Further details
arc at hand relative > the offering on June 27 of the $35,000 4% cou p,
water bds. (V . 92, p J 1 6 5 3 ). Proposals will be received until 10 a. m . on
that day b y F. I. u ^ .o o o k , Treas. Denom . $500 & $1,000. Date July 1
1911. In t. J. & J. at the First N at. Bank o f B oston. Due $1,500 yrly
July 1 1912 to 1921 Incl. and $1,000 July 1 1922 to 1941 Inch Bds. are
exem pt from taxation In Mass, and will be delivered on July 1 1911. T hey
will be certified as to genuineness by the First Nat. Bank of Boston and
their legality approved oy R opes, Gray & Gorham of Boston, whose opinion
will be furnished to the buyer.
AUDUBON COUNTY (P. O. A udubon), Iowa.— Bond Sale.— The In
vestors’ Securities Co. of Des Moines and E. H. Rollins & Sons of Chicago
CHOCTAW COUNTY SCHOOL DISTRICT No. 5 (P. O. Messer). Okla.
have been awarded $42,000 4 t f % 12 2-3-yr. (av.) bridge-funding bds. at
■Bond Sale.— On June 16 $1,500 6'% 20-yr. bds. were awarded to Speer &
their join t bid of 101 and int.—-a 4.413% basis.
Dow of l o r t Smith. Denom . $500. Date June 15 1911.
BASTROP COUNTY SCHOOL DISTRICT No. 28. T e x — Bonds Voted.—
CLAYSVILLE. Washington County, Pa.— Bonds P roposed.—-The Board
A n election held recently resulted. It is stated, in favor o f the question of of Education, it is stated, has decided to Issue $15,000 bldg, bonds.
Issuing $1,000 bds. The vote was 23 " fo r ” to none "a g a in st.”
CLEVELAND, Ohio.— No Special Bond Election.— On June 12 the City
BATSON SCHOOL DISTRICT (P. O. Batson), Hardin County. Tex.— Council, by a vote of 14 “ fo r” to 17 “ against” , defeated the resolution pro
Bona s a le .-— W. C. Whitney has been awarded at par $10,000 5% bldg, viding for a special election to vote on the question of Issuing $1,000,000
bds. offered on A pr. 14. Bonds arc subject to call after 10 years.
Street bds. V . 92, p. 1654.
Bond Sale.— On June 19 the nine Issues of coup. bds. (V. 92, p. 1581),
, BAYONNE. Hudson County, N. J .— Bond Sale.— On June 6 the $187,000
aggregating $913,000, were awarded to the New First N at. Bank In Colum
10-yr. fu n d., the $218,000 20-yr. fund, and the $58,900 20-yr sch 4K ,%
cou p , or reg. bds. (V . 92, p. 1512) were awarded to R . M. Grant & Co. of bus as follows:
New York at 102.526— a basis of about 4 .2 8 7 % . The $187 000 bds are $300,000 4 M % 20-yr. bridge bonds fo r_________________ $309,510— 103.17
part of an issue of $287,000 due In 10 yrs., the remaining $100!000 of which
25.000 4 A % 20-yr. fire-department bonds fo r---------26,024— 104.096
will be purchased by the Sinking Fund Commissioners
45.000 4 A % 20-yr. park bonds fo r__________________
46,809— 104.02
30.000 4 A % 30-yr. city-hall bonds fo r______________ 31,343— 104.476
BAYOU TIGRE DRAINAGE DISTRICT (P. O. Abbeville). La .- B o n d s
80.000 4 K % 30-yr. street-opening bonds fo r ________ 83,396— 104.245
Voted.— A n election held June 13 resulted In favor of a proposition to issue
8,321— 104.012
8,000 4 A % 20-yr. city-farm school bonds fo r-------$30,000 bds.. It Is stated.
10.000 4 K % 20-yr. Infirmary Improvement bonds for 10,442— 104.42
BEACH CITY, Stark C ounty. Ohio.— Bond Offering.— Proposals will be
15.000 4%
20-yr. grade-crossing bonds fo r_________ 15,163— 101.086
received until 12 m . June 28 by H. B. W ard, Village Clerk, for the following
400.000 4 )1 % 34-yr. water-works bonds fo r _________ 417,680— 104.42
5% Main & West sts. Imp. bds. (V. 92, p. 1653):
Papers state that the New First National Bank has requested the city
$10,500 assess, bds. Denom. 10 bds. of $500 & $550 each. Due $1 050 to cancel its bid for the first eight Issues o f bonds m entioned above, desir
yrly. from 1912 to 1921 incl.
ing to purchase only the $400,000 water bonds. The reports further claim
1,000 village’s portion bds. Denom . $500. Due $500 M ay 1 1912 and that the attorneys for the bidder are not certain that the bonds which they
$500 May 1 1913.
decline are legal.
A uth. Sec. 95, Municipal Code. Date M ay 1 1911. Int. ann. Cert,
COALVILLE SCHOOL DISTRICT NO. 2 (P. O. Coalville), Summit
check for $500, payable to the Clerk, required. Bonds to be delivered and
County,
Utah.— Bond Sale.— On June 15 the $35,000 5% 5-20-yr. (opt.)
paid for within 10 days from date of award. Purchaser to pay accrued Int
bldg. bds. (V. 92, p. 1581) were awarded to S. A . Kean & Co. of Chicago for
and furnish blank bds.
$34,125 (97.50) & Int.— a basis of about 5.42% to the optional date. Five
BEAVER, Beaver County, Pa.— Bonds Voted.— The election hed on
other bids were received.
June 17 resulted In favor of the proposition to Issue the $20,000 paving and
COLOUITT. Miller County, Ga.— Bond Sale.— \Vc are advised that the
$30,000 bldg. bds. (V . 92, p. 1579). The vote for paving bds. was 230 to
$7,500 water, $7,500 light and $7,000 school bonds voted on March 11
167; for the bldg. bds. 244 to 136.
(V . 92, p. 896) were awarded on June 1 to J . H . HUsman & Co. of A tlanta.
BENTON HARBOR, Berrien C ounty, Mich.— Bonds Voted.— The ques
COLQUITT COUNTY (P. O. Aloultrie), G a.— Bonds P roposed.— The
tion of Issuing $50,000 4 '/0 water ods. carried by a vote o f 511 to 240 on
June 14. Due Jan. 1 1941. W e are advised that these bds. will be sold Issuance of $300,000 Jail, bridge and road bds. Is being discussed.
at private sale.
COOPER COUNTY (P. O. B oonville), M o. — Bonds Voted.— An clectlon
nnCneDt y ’ V ls •'eportcd, resulted In favor of a proposition to issue
BERWYN SCHOOL DISTRICT NO. 100 (P. O. Berwyn). Cook County.
.•— Bond Sale.— E . H . Rollins & Sons of Chicago were awarded an Issue $ 100,000 court-house bds.
CRESTLINE-,
Crawford County, Ohio.— Bond Sale.— The $8,500 5%
abo*ut2 4 ° 3 0 r % 1 3 ^ * y r’ (avd bld&- bds- at 107.14 and Int.— a basis of
yi-yr. (av.) coup. West Bucyrus St. lm prov. assess, bds. (V . 92, p. 1581)
awarded to Otis & Hough of Cleveland for $8,842 (104.023) & Int.—
v BIG HORN COUNTY SCHOOL DISTRICT No. 45 (P. O. Raymond), were
V y?.}~/?on(l, 0Berln(j.— Proposals will be received until 1 p. in. July 8 by a basis of about 4 .1 0 % . Other bids follow:
AOf llrnVu,’« ? icrk- for $1,900 6% cou p. bldg. bds. A uth. ch ap. 140 Seasongood & Mayer, Cincln._$8,760| W eil, Roth & C o., C in cinnati.$8,756
H tv . Stat. of 1910. Denom. $500. Date July 1 1911. Int. July 1 at the
CROWELL INDEPENDENT SCHOOL DISTRICT (P. O. Crowell).
Vnn i ,u,n ty' T e x .— Description of Bonds.— YVc areadvlsed that the
^
ofnc<? at Basin or at the State Treas. office at Cheyenne,
as the holder m ay elect. Due 1 j 20 years.
$„o,uuo bldg. bds. voted on June 6 (V . 92, p. 1654) bear Interest at 5 %
...io^ V ^ ^ B E ^ R Y , Itasca C ounty, Minn.— Bonds Not Sold.— W e are ad and mature In 40 yrs.
vised under date of June 16 that the $8,000 6% 2-1-7 yr. (ser.) cou p, road
DAVENPORT SCHOOL DISTRICT (P.O . Davenport), Scott County,
bds. offered on June 2 (V . 92, p. 1450) have not been sold.
Iowa.— Bond Sale.— 'T he $65,000 bldg. bds. voted Mch. 11 (V . 92,p. 897)
BLA IR, Trempealeun County, WIs.— Bond Election.— Reports state that were awarded on June 12 to G. M. Bechtel & Co. of Davenport.
an elcotlon to vote on a proposition to Issue $10,000 city-hall bonds will take
DELANO JOINT UNION HIOH SCHOOL DISTRICT. Tulare County,
place to-d ay (June 24.)
Cal.— Bond Election.— An election will be held July 1 to vote on the ques
tion of Issuing $50,000 bds.. It ls stated.
B O IS E C I T Y , A d a C o u n ty , Id a h o .— Bond Sale.—T h e $33,000 7 % 1 -1 0 yr. (ser.) gold cou p, lateral-sewer bds. offered on May 22 (V . 92, p. 1389)
DELAYVARE COUNTY (P. O. Aluncie), Ind.— Bonds Offered by Bankers
were awarded on May 25 to the First Nat. Bank of Cleve. at a premium.
— "he J. F. Wild & Co. State Bank of Indianapolis Is offering to Investors
534,000 4 H % Center T w p. gravel-road bds. Denom . $500 & $600. Date
. , B^ ,SE „C ,X YJ N.P E PE^ DE,N T . S C H 00L DISTRICT (P. O. Boise City).
15 1911. Int. M. & N. at the Delaware County N at. Bank In Muncle.
Idaho.— Bond Election.— A n election will be held on June 26 to v o h to n the April
Due $ 1,700 each six months from May 15 1912 to N ov. 15 1921 incl. Bds
question o f Issuing $ 3 0 ,0 0 0 Washington bldg. & $ 2 0 ,0 0 0 Park bid
old are
____ •
tax-exem pt.
^
June
T H E C H R O N IC L E
24 1911.]
D E N T O N C O U N T Y (P . O . D e n to n ), T e x .— Bond Election.— Reports
state that an election will be held July 29 to vote on the proposition to Issue
$75,000 Lewisville R oad District bonds.
D E W E Y , W a s h in g to n C o u n ty . O k la .— Bids Rejected.— The following
bids received on June 15 for the $ 10,000 6% 25-yr. coup, water bds. (V . 92
p. 1582) were rejected:
Sutherlln <% C o., Kansas City, M o_________________________________$40,601
Williams & U tterback Seo. C o., Oklahom a C ity....... .......................... 39,200
Greer Bond & Investm ent C o., Oklahoma C ity___________________ 37,605
D O D G E C E N T R E . D o d g e C o u n ty , A lin n .— Bonds V o ted — A favorable
vote was ca ston June 19 on the question of Issuing $20,000 4% w ater bonds.
There were 64 votes “ for” and 3 "a g a in st.”
Due 1917 to 1930. W e arc ad
vised that these bonds will be sold to the State of Minnesota.
D O L S O N T O W N S H I P , 111.— Bonds tooled.— Reports state that an elec
tion held June 10 resulted In favor o f a proposition to Issue $1,500 bridge
bds. The vote was unanimous.
D O T H A N , H o u sto n C o u n ty , A l a — Rond Election.— An election will be
held, It Is stated, to vote on the question of issuing water and light bonds.
E A S T A U R O R A . Erie C o u n ty , N . Y .— N o Action Yet Taken.— Up to
June 16 no action had yet been taken looking towards the Issuance of the
$112,000 sewer bonds voted on March 21. V . 92, p. 825.
E D E N (P . O . E ar H a r b o r ), M e.— Bond Offering.— The Town Selectmen
will oltcr for sale at 10 a. m . July 1 $27,500 4 % llrc-cngine bds. Due Oct. 1
as follows: $500 In 1911 and 1912, $1,500 In 1913 and $2,500 yearly from
1914 to 1923 Inclusive.
E L C E N T R O U N IO N H IG H S C H O O L D I S T R IC T (El C e n tr o ), Im perial
C o u n ty , C a l.— Bonds Voted.— A vote of 306 to 44 was cast on March 11 on
the question o f Issuing the $75,000 5% bldg. bds. (V . 92, p. 675). Denom.
$1,000. Due $3,000 yrly. beginning the 16th yr. W c are advised that
these bonds will be offered for sale about O ct. 1.
E L RENO. Canadian C ounty, Okla.— Bond Election Proposed.— A reso
lution has been adopted, It is stated, asking the Commissioners to call an
election to vote on the question of Issuing $50,000 bds. to drill for artesian
water, oil or gas on land owned by city.
E R W IN
(T ow n )
U N IO N
FREE
SCHOOL
D I S T R IC T
NO.
1
(P .
O.
P ainted P o s t ), Steuben C o u n ty , N . Y .— Bonds Awarded in Part.— On June
20 the $25,000 coup, (with prlv. of registration) bldg. bds. (V . 92, p. 1054)
were awarded, $10,000 to J. J. Gallagher at par ami int. for 4s. Other bids
follow:
_ _____ _
Isaac W . Sherrill. Poughkeepsie (for 4 .3 5 s)_____________________ $2.>,037 o0
Ferris & W hite, New York (for 4.37 M s)...............
25,003 00
J. J. Ilart, Albany (for 4 .4 0 s)___________________________________2.>,00.> o0
Harris, Forbes & C o., New Y ork (for 4 .45s)-------------------------------- 25,018 00
Adam s & C o., New York (for 4 M s)------------------------------------------- 25,037 00
First National Bank, Covington (for 5s)----------------------------------127 25
Farson, Son & C o., New York (for 5s) ----------- - ------- --------v i ' Y , ’' ’’ ’000 1,0
The remaining $15,000 bonds will be offered for sale on July 7.
E V F R F T T . S noh om ish C o u n ty , W a s h . — Bond Offering.— Proposals will
be received until 12 m. July 11 by C. C. Gilman, C om p., for $030,000 gold
cou p, warrant-funding bds. at not exceeding 5% Int. A uth. vote of 1,367
to 510 at election held June 13. Denom. $1,000. Date July 15 1911.
Int. J. & J. at the W ashington fiscal agency In New Y ork. Due July 15
1931. Cert, check on a bank in liverett for 2% of bid, payable to A lex.
K cay, Trcas., required. Official circular states that this city has never
defaulted In either principal or Int., having always met Its obligations
prom ptly.
F A I R F I E L D , Som erset C o u n ty , M e — Bond Sale.— An issue o f $27,000
4 % 15M-yr.
(av.) coup. ref. b s. was s Id on June 20 to Spltzer,
R orlck & Co. of Toledo at 102.44— a basis of about 3 .788%
D enom .
$1 000
Date July l 1911. Int. J. & J. at the Nat. Bank o f Falrlleld.
Bonds are tax-exem pt. Following are the bids:
Spltzer, Itorlek & C o., N. Y _ 102.44 E . H . Rollins & Sons, Bost. 101.779
N .W .H arris * C o,,In c.,B ost-1 0 2 .2 0 Estabrook & C o., B oston_101.76
H ayden,Stonc& Co., Portland 102.011 C. H . Gilm an_______________ 101.75
E . At. Farnsworth & C o .,Iios, 101.93 M aynardS. Bird & C o.,P ortl.l0 1 .6 1
Kennebec S av, B k., Augusta 101.87 Perry, Coffin 3c Burr, Boston 101.517
W hlcher, Young & Conant- .101.79 Falrlleld Savings Bank, Fair
field_____ _________________ 101.13
Merrill, Oldham & C o., B ost.101.789
IT FAIRFIE LD SCHOOL DISTRICT (P. O. R ichm ond), Henrico County,
v a — Bonds Defeated.— The election held June 20 resulted In defeat of the
proposition to issue the $35,000 bldg. bds. (V . 92, p. 1451), it is stated.
FAIR V IEW SCHOOL DISTRICT, Glenn C ounty, Cal.— Bond Sale.—
G. G. Blym yer & Co. of San Francisco have been awarded, it Is stated, the
$5,000 bldg, bonds (V . 92, p. 1053).
FARGO, Cass C ounty. No. D ak.— Bond Sale.— On June 14 the $30,000
4 M % 12 M -yr. (av.) park dtst. Imp. bds. (V . 92, p. 1583) were awarded
to Wells & Dickey Co. of Minneapolis at par.
FARA1ERSVILLE SCHOOL DISTRICT (P . O. Farm crsvillc), Collin
County, T e x .— Bonds R egistered— The State Comptroller registered on
June 16 $18,500 5% 30-40-yr. (opt.) bonds.
FORT BEND COUNTY (P . O. R ichm ond), T e x — Bond Election Proposed.
— A petition praying that an election be ordered to vote on $500,000 j %
40-yr. Road District N o. 2 bds. is being circulated, It Is stated.
FORTUNA Hum boldt County, Cal.— Bond Election.— The Trustees have
been requested to call an election, It Is stated, to vote on the question of
ssulng sewer bonds.
" ass.— Bond
_
. Sale.—
_ .
19
FR AN K LIN , Norton C ounty, M
*On
June
If the
92. p.
$40 000 4 % 5-24-yr. (ser.) coup, water loan A ct of 1911 bds. (V. U
1655) were
were awarded to E. H . Rollins & Sons of Boston at 104.5166— a basis
1655)
of about 3 .5 9 % . Other bids follow:
N. W . Harris & C o., In c.,B os 104.16 Estabrook & C o., B oston------103.57
Kuhn, Fisher & C o., B o sto n .103.87 Adams & C o., B oston--------- 103.542
H ayden, Stone & C o., B o s ..103.851 Blake Bros. & C o., B o sto n -_ 103.47
Merrill, Oldham & Co., B o s . .103.789 Blodget & C o., B o sto n _____ 103.289
Perry, Coffin & Burr, B os— 103.722 Curtis & Sanger, B oston___ 103.278
FRED ERICK C ITY . Frederick C ounty, M d.— Bond Offering.— Proposals
will be received until 7:30 p. m. July 19 b y the Mayor and Aldermen for
$ 30,000 4 M % 10-20-yr. (opt.) coup, water bonds. Denom .: 20 bds. of
$1,000 and 20 of $500 each. Date July 1 1911. Int. J. & J . Cert, cheek
for 5% of bds. bid for, payable to the Mayor & Aldermen, Is required
Purchaser to pay accrued Interest.
The official notice o f this bond offering will appear next week among the
advertisements elsewhere in this Department.
FREMONT, Sandusky C ounty, Ohio.— Bond Election.— The question of
ssulng $54,000 water-mains and fire-apparatus bds. will be voted upon, It Is
stated, on July 11.
FRISCO INDEPENDENT SCHOOL DISTRICT (P . O, F risco), Collin
Cnmitv Texas — Description of Bonds.— The $13,500 bonds recently voted
(V 92 d 898) ’bear Int. at 5% and arc in the denom . o f $1,000 each. Date
May 1 1911. Int. ann. Due in 40 yrs., op t. after 20 years.
OAGFTOVVN. Tuscola C ounty, M ich.— Bond Sale.— W o arc advised that
the $2 900 5% water bds. voted on Mch. 13 (V. 92, p. 825), are being
taken Sit par by the Michigan Pipe Co.
GAI VFSTON COUNTY (P. O. G alveston). T exa s.— Bonds Not Sold.—
No satisfactory bids were received on June 19 for the $500,000 5% 20-40-yr
(op t.) cou p, bridge bonds. V. 92, p. 1514.
GLENDALE SCHOOL DISTRICT, Los Angeles C ounty, Cal.— Bond
Election.— The election will be held July 1, It Is stated, to vote on the ques
tion of Issuing the $40,000 5% 1-5-yr. bds. Denom. $1,000.
GONZALES COUNTY (P . O. G onzales), T exas.— Bond Election,— An
election will be held June 27 to vote on the question of Issuing $150,000
R oad Dlst. No. 1 and $60,000 R oad Dlst. No. 3 5% road-Im pt. bonds.
GRAND JUNCTION, Mesa County, C olo.— Bids Rejected.— All bids re
ceived on June 15 for the $450,000 5% 10-15-yr. (opt.) Gravity Mountain
water-system-constr. bds. (V. 92. p. 1583) were rejected.
GRAND R APID S, Kent C ounty. M ich.— Bond Offering.— Proposals will
be received until 3 p. m. July 3 by J. Schrlvcr. Clerk, for the following
C°S200 000 4% rapld-sand-flltratlon bds. voted Apr. 4 1010. Date June 1
1911 ’ in t J & D. Due 20 yrs. The bds. were previously oilered on
M arch 6, but the bids received were rejected (V. 92, p 898).
$45 000 4 M % 6ewcr-assess. bds. Date May 1 1911. Int. M. & N.
Due $!) 000 yrly. May 1 1912 to 1916, Incl.
. ,
$108 000 of an Issue of $180,000 4 M % str. Impt. assess, bds. Date
M ay 1 m i .
Int. M. & N. Duo $36,000 May 1 1914, 1915 and 1916.
1715
Denom. $1,000. Int. payable at the Treas. office. Bonds are exem pt
from all taxation. U nconditional cert, check for 3% of bds. bid for, pay
able to the Treas., required.
GREENE COUNTY (P. O. Springfield), Mo.— Bond Offering.— Proposals
will be received until 12 m. July 11 by the Treasurer for the $150,000 4 M %
court-house bds. (V . 92, p. 899). A uth. Sec. 1267, R e v . Stat. of 1909.
Denom .: 250 bds. of $100 each and 250 bds. of $500 each. Date A ug. 1
1911. I n t .A .& O . Due $75,000 In 5 yrs. and $75,000 in 10 yrs. N od ebt
at present. Assess, va l., $26,000,000. A ctual value (est.), $75,000,000.
GROESBECK, Limestone County, Tex.— Bonds Registered.— On June 12
the State Comptroller registered $7,000 water and $12,000 street 5% 10-40year (optional) bonds.
GUNNISON, Gunnison C ounty, Colo.— Bond Offering.— M . J . Schm itz,
Town Clerk, Is otferlng at private sale an issue of $90,000 6% reg. water bds.
A uth. Subdlv. 6 & 67, Sec. 6525, R ev. Stat. of 1908; also vote o f 94 to 60
at election held April 4 1911. Denom .: 200 bds. of $100 each, 60 o f $500
each and 40 of $1,000 each. Date July 1 1911. Int. J. & J. at the Treas.
office or at the Hanover Nat. Bank In New York City. Due 15 yrs. o p t.
after 10 yrs. Official circular states that there is no controversy or litiga
tion, threatened or pending, concerning the validity of these bonds, the
corporate existence or the boundaries of the m unicipality, or the title of the
present officers to their respective offices; also the city has never defaulted
n the paym ent of any of Its obligations.
HAGERSTOWN, Washington County, Md.— No Action Yet Taken.—
W e are advised, under date of June 19, that no action has yet been taken
towards the Issuance of the $50,000 4 % park bds. voted on March 17
(V. 92, p. 899).
HANCOCK COUNTY (P. O. Sparta), Ga.— Description o f Bonds.— The
$35,000 5% 30-yr. road bds. awarded on June 1 to the W alker Financing <5c
Securities Co. at 102.428— a basis of about 4.846% (V . 92, p. 1583)— are in
the denom . of $500 each and dated July 1 1911. Int. J. & J.
HELT TOW N SH IP. Vermillion County, Ind.— Bonds Offered by Bankers •
— The J. F. W ild & Co. State Bank of Indianapolis is otferlng, at a price t «
yield 4% in t., $7,000 5 % 1-5-yr. (ser.) tax-exem pt sch.-house bds. Deno.
$500 and $400. Date July 1 1911. Int. J. & J. at the State Bank of Dana.
Bond, debt, this Issue. Real valuation (est.), $6,000,000. Assess, value
$2,998,735.
HILLSBORO SCHOOL DISTRICT (P. O. Hillsboro), Highland County,
Ohio.— No Bonds Authorized.— We are advised that the papers stating that
this district has authorized the Issuance of $8,000 bldg. bds. are In error.
HOBOKEN, N. J.— Bond Offering.— Further details are at hand relative
to the offering on June 28 o f the $125,000 4 M % cou p, or reg. clty-halladdltlon bds. (V . 92, p. 1655). Proposals for these bonds will be received
until 4 p. m . on that day b y J. H . L ondrlgan, City Clerk. A uthority Chap.
279, Laws of 1911. Denom. $1,000. Date July 1 1911. Int. J. & J. at
the City Treas. office. Due July 1 1931. Bonds are tax-exem pt. Cert,
check for $2,500, payable to the “ City of H o b o k e n ," required.
The official notice of this bond offering will be found among the advertise
ments elsewhere in this Department.
HONEA PATH SCHOOL DISTRICT NO. 34 (P. O. Honea Palh). Ander
son County, So. Caro.— Bond Offering.— Proposals will be received until
12 m. June 26 by the Chairman Bd. of Trustees, for the $7,000 5% school
bds. voted on June 5 (V. 92, p. 1655). Denom. $500. Int. July 1 begin
ning 1912. Due 1931. Cert, check for 10% bds. bid for required. Bond,
debt at present, $8,000. Assess, v a l., $675,000. J. F . Monroe is Sec’y.
HONEY GROVE. Trannin County. Texas.— Bond Offering.— S. H.
Gardner, M ayor, will sell at private sale at 12 m. July 10 the $5,000 5%
cou p. st.-Im pt. bds. voted recently (V. 92, p. 1515). Denom . $1,000. Date
July 1 1911. Int. J. & J. at N at. Park Bank in N. Y . City. Due 40 yrs.,
op t. after 20 years. No deposit required.
HOQUIAM, Chehalis County, Wash.— Bonds Offered by Bankers.— 'T he
Harris. Trust & Savings Bank of Chicago Is otlering for sale $75,000 5 M %
11-20-yr. (ser.) fund. bds. Denom. $1,000 and $500. Date June 1 1911.
Int. J. & D. at the Harris Trust & Savings Bank In Chicago.
HUMBOLDT, Gibson C ounty. Tenn.— Bonds Voted.— The vote cast
June 6 on a proposition to Issue $12,000 5 M % 30-yr. fund, bonds was 76
“ for” to 2 “ against.”
HURON COUNTY (P. O. Bad Axe), Mich.— Bonds Defeated.— T h e propo
sition to issue the $100,000 court-house bds. (V . 92, p. 826) failed to carry
at the April election.
HUTCHINSON, Reno County, Kans.— Bond Sale.— The $125,000 4 M %
20-50-yr. (opt.) reg. public-bldg. bds. (V. 92, p. 1583) were sold on June 16
to the State Exchange Bank and the Commercial National Bank, both of
Hutchinson, at their Joint bid of 100.28, int. & blank bds. Following are
the bids:
State E xch . Bank and Commercial N at. Bank, H u tch in so n ..*$125,350 00
Commerce Trust C o., Kansas City, M o________________________
125,305 00
Mercantile Trust C o., St. Louis_______________________________ *125,168 75
N. W . Halsey & C o., Chicago_________________________________ 118,825 00
* And blank bonds.
Denom. $500 or $1,000.
In t. payable In Topeka.
IB E R V IL L E PARISH SCHOOL DISTRICT (P. O. Plaqueminc), La.—
Bond Sale.— On June 13 the $60,000 5% cou p. bds. (V . 92, p. 1584) were
bought by Cutter, May & Co. of Chicago at par & Int. less $1,200. Bids
were also received from C. H . Coffin of Chicago and the New First National
Bank of Columbus.
I At PER IA L. Imperial County, Cal.— Bond Election.— A n election will be
held to-day (June 2 4 ), It Is stated, to vote on the question of Issuing $3,000
6% bds. Denom. $500. Int. seml-ann. Due from 5 to 15 years.
JACKSON COUNTY (P. O. Holton). Kan .— Election.— A ccording to
reports an election will be held In July to vote on a proposition to Issue
bonds or levy a direct tax to build a court-house.
JEFFERSON COUNTY (P.O. Aladison), lnd.— Bonds Offered by Bankers.
— The J. F. Wild & Co. State Bank of Indianapolis is ollcring to Investors
$3,269 4 M % tax-exem pt Saluda T w p. gravel-road bds. D enom . $163 46.
Date May 15 1911. Int. M. & N. at the Co. Treasurer’s office In Madison.
Due $163 46 each 6 mos. from May 15 1912 to N ov. 15 1921 inc. Total bd.
debt, Incl. this issue, $11,034 24. Assess, val., $366,565. Real value
(est.), $720,000.
JEFFERSON COUNTY (P. O. Fairfield), Iow a— Bond Offering.— Pro
posals will be received until 12 m. June 30 by F. J. Black, Treas., for $27,000
4 U % hospital bonds. A uth. election held March 27 1911. Denom. $500.
Int. J. & J. Due $13,500 July 1 1916 and $2,700 yrly. July 1 1917 to
1921 Inclusive.
JEFFERSON TOWNSHIP, Jay County, Ind.— Bonds Offered by Bankers.
— Sch -house 4 M % 1-15-yr. (ser.) tax-exem pt bds., amounting to $22,500,
are being offered to Investors by the J. F . W ild & Co. State Bank of Indian
apolis. Denom. $500. Date July 1 1911. Int. J. & J. at the Bank of
Redkey. Bond, debt, Incl. this Issue, $24,000. Assess, value, $1,232,140.
Real value (est.). $2,400,000.
,
JEROME SPECIAL SCHOOL DISTRICT, Union and Delaware Coun
ties. Ohio.— Bond Offering.— Proposals will be received until 12 m . July 1
by N. M. Stewart, Clerk Bd. of Ed. (P . O. Dublin R . D. No. 1), for the
$4,000 5% bldg. bds. voted recently (V. 92, p. 1656). A uth. Sec. 7625,
7626 and 7627, General Code. Denom. $500. Date July 1 1911. Int.
M. & S. at the Farmers’ Nat. Bank at Plain City. Due $500 yrly. Sept. 1
1912 to 1919, Incl. Bonds to be delivered July 5 1911
Cert, check for
$100, payable to the Treas. B d. of E d ., required. Bids must be uncondi
tional. Purch. to pay accrued Int.
JESUP, Wayne County, Ga.— Bonds Voted.— The question of Issuing
$25,000 5% water bds. carried by a vote of 112 to 4 at an election held
June 17. Due part y ’ly for 30 yrs. beginning Dec. 1 1913.
JOHNSTOWN. Licking County, Ohio— Bond Sale.— The $6,670 38
(village’s portion) and the $18,394 67 assess. 5% cou p. State S t. improv.
bds. (V. 92, p. 1584) were sold on June 15 to the First Nat. Bank of Cleve
land at 104.479. Following are the bidders and premiums offered by same;
First Nat. B ank,C leveland.$1,122 70|WeII, R otn & C o.,C tncIn— $437 50
Sccur. S .B .& T r.C o.,T ol___ 1,012 501 H. B . Rusler. Johnstow n____
par
New First Nat. B k., Colum.
893 0 0 1
Part of each Issue Is due every year from 1912 to 1921. Inclusive.
KEN ESAW , Adams County, Neb.— Bond Offering.— W e are advised
that the $18,500 6% 5-20-yr. (op t.) water bds. voted on Feb. 28 (V . 92
p. 899) are now ready for sale. Denom. $500. Date May 1 1911. Int.
M. & N. The bds. have been registered with the A uditor of Public A c
counts and Secretary of State.
1716
T H E C H R O N IC L E
KENTWOOD, Tangipahoa Parish, La.— Bond Election Proposed.— A
petition Is being circulated, it Is stated, calling for an election to vote on
the question of Issuing $50,000 water and sewer bonds.
KINO COUNTY SCHOOL DISTRICT NO. 71, W ash — Bond Offering.—
Proposals will be received until 11 a. m. July 8 by W . II. Hanna, Co. Treas.
(P . O. Seattle), for $15,000 coup, site bds. at not exceeding 6% int. Auth
at election held May 27. Denoin. $500. Int. aim. at the Treas. office, or at
the ilscai agency of the State In N. Y ., at the option of the purchaser. Due
20 yrs., op t. after 1 yr. Bonds will be delivered A ug. 1 1911. Cert, check
or draft for 1% of bds., payable to the Treas., required. B ond, debt
$12,000. Outstanding warrants, $2,942 19. Assess, v a l., $588,871.
KING COUNTY SCHOOL DISTRICT NO. 137, Wash.— Bond offerin g.—
Proposals will be received until 11 a. m . July 1 by W . H . Hanna, Co. Treas.
(P . O. Seattle), for $8,000 cou p. ref. & bldg. bds. at not exceeding 6% int.
A uth. election held June 2. Denoin. $500. Int. ann. at the Treas. office,
or at the liscal agency o f the State in N. Y ., at option of purchaser. Due
20 yrs., op t. after 5 yrs. Bonds will be delivered A ug. 1 1911. Cert, cheek
or draft, for 1% of bds., payable to the Treas., required. Bond, debt
$1,000. Outstanding warrants, $2,767 14. Assess, va l., $218,061.
’
KNOXVILLE, Tioga County, Pa.— Bond Sale.— On June 16 $24 000
4 )4 % bds. were awarded to the Safe Deposit & Trust Co. in Pittsburgh
Dcnom . $1,000. Date July 1 1911. In t. .1. & J. Due $4,000 in 1916 and
$5,000 In each of the years 1921, 1926, 1931 and 1936.
LAMONT SCHOOL DISTRICT (P. O. Lamont), Buchanan County. Iowa
— Bond Sate.— W e are advised that the $4,000 8-yr. bldg, bds voted on
March 15 (V . 92, p. 900) have been sold.
LEBANON, Boone County, Ind.— Bids Rejected.— The following bids
received on June 19 for the $30,000 4 % 5M -yr. (av.) cou p, water ref bds
(V . 92, p. 1584) were rejected:
J. F. W ild & C o--------------------- $29,660IMIUer, Adam s & C o________$29,613
Gavin L. Payne & C o ,.......... 29,650|Meyer & Kiser Bank __
29,500
Marlon Trust C o___________ 2 9 ,6 25 1
The above bidders are all o f Indianapolis.
LEBANON, Lebanon County, Pa.— Bond Sale.— The $110,000 4% sewer
bds. refused by Graham & Co. of Phlla. (V . 92, p. 900) were awarded to
local Investors on April 1, we are just advised.
4
ref. bonds
A uth. Sec. 15 o f Chap. 7, City Charter, as amended b y
A ct J37 o f Local A cts of 1901. Denom. $500. Date July 1 1911. Int.
J. & J . Due July 1 1921.
, M A R SH A LLTO W N , Marshall C ounty. Iow a.— Bond S a fe — The S25.000
10-yi. cou p. fu n d . bds. (V . 92, p. 1268) have been sold, It is stated
to Geo. M. Bechtel & Go. of Davenport. D enom . $1,000.
M A R T IN E Z. Contra Costa County. Cal.— Bond E lection — The election
to vote on the question o f Issuing the $15,000 clty-h a ll-con s'r and site
$15,000 H oughton water-front-estate and $35,000 water-front" an d wharf
5% bonds (V . 92, p. 1656) will be held July 22, It is stated.
M ASSILLON , Stark County, Ohio.— Bonds Authorized.— An ordinance
has been passed providing for the Issuance of $3,900 4 'A% cou o st -im nrov
bds. Denom . $1,000 and $900. Date July 1 1911.' Int J & J
Due
one bond yearly on July 1 from 1913 to 1916 inclusive.
’
‘
MELROSE. M iddlesex County. M ass.— Bond Election.— Papers state
that an election will be held July 1 to vote on the question of Issuing $45 000
bonds to pay part o f the cost of constructing an $84,000 memorial hall.
M ENARD COUNTY (P . O. Petersburg), III.— Bond Sale.— On June 15
tile $30,000 5% 1-5-yr. (ser.) coup, alm shousc-constr. bds. (V . 92, p. 1585)
were awarded to II. II. Schirding & Son o f Petersburg at 101.67— a basis
of about 4 .4 0 % . Other bids follow :
C. II. Coffin, Chicago____ $30,401 00 E . II. Rollins & Sons,Chic.$30,23 1 00
II. II. M arbold, Grccnview 30,375 00 Ulen & C o., C hicago_____ 30,225 00
II. T . H oltz & C o., C h ic .. 30,321 00 Chas. S. Kidder & Co.,Ch_ 30,213 50
W m .R .C o m p to n C o .,S t.L . 30,313 00 Uanchett Bond C o., C hic. 30,127 00
Mercantile Tr. C o., St. L . 30,312 50 Farson, Son & C o., C h ic .. 30,126 00
Cutter, May & C o., Chic. _ 30,307 50 Thos. J. Bolger C o., C hic. 30,101 00
D. S.Freckelton&Co.,Peter. 30,308 00 A lex. Campbell, P e tc r s b .. 30,100 00
A . B. Leach & C o., Chlc__ 30,231 00 A .G .E d w ard s& S on .S t.L ,. 30,042 00
A U D W A Y S C H O O L D I S T R I C T , C a L — Bond Offering.— Proposals will be
received until July 8 for $50,000 6% bonds, according to reports.
m J 'w „ T O V nN S ,,I P , SC !,l11,,( ) L D I S T R I C T (P . O . Lincoln P la c e ), P a —
n Prlil, °SSerir,d- ],r°I™sal? will be received until 7:30 June 28 bv the Board
?n n
TnTSrf0X 5T3° n 2 2 « r ^ n k i fu n a - b d s- Denom . $1,000. Date July 1
l u l l . m t . J . o c j . Due $5,000 every 5 yrs.. beginning July 1 1910 Bonds
if
LE FLORE COUNTY SCHOOL DISTRICT NO. 3 (P. O. Hcavcner),
Okla.— Bond Sale.— On June 14 $8,000 6% bldg. bds. were awarded to
Speer & D ow of Fort Sm ith. Denom. $500.
LEMOORE SCHOOL DISTRICT, Kings County, Cal.— Description o f
Bonds.— The $40,000 5% 1-40-yr. (ser.) bds. awarded on May 20 to the
Wm. It. Staats Co. of Pasadena at 102.5465— 4.6 7 % basis— (V .9 2 , p. 1515)
are In the denom . of $500 each and dated May 2 1911. Int. M. & N.
LIBERAL. Seward County, Kan.— Bond Election.— An election will be
held July 6, It is stated, to vote on the question of Issuing $30,000 water bds.
[V'OL. L X X X X l l .
1909^a s A m e n d e ? ? h v 4
l nt - A u tb - Chap. 27, Laws of
Date svnt *0)™ini !>J C£ilp ‘ “ 12, L,avra ° ‘ 1911 • Denoin. not less than $500'
Date ^ept. l
Int annual
Due $100,000 Jan. I 1916, $115,000
h n ' l m s 6, f er h Pe n t 1 1917, J 123-000 Aug. 1 1917 and $60,000
•
Certificates are exem pt from taxation
Cert cheek for ?°tL
the State Bd. of Control, required. Validity of certs
affirmed by State Supreme Court— Brown vs. Ringdal, 109 Minnesota, p . o!
M O N T C L A I R , E sse x C o u n ty ,
N . J .— Bonds
Proposed .—
T h e B oard o f
LICKING COUNTY (P. O. Newark), Ohio.—•Bond Offering.— Proposal8 S ch ool E stim a te has certified to C ouncil th at an Issue o f $ 4 7 ,0 0 0 sell bds
will be received until 12 m. June 27 by C. L. Ktley, A u d ., for the following Is n ecessary.
’
4 % pike road bonds:
M U S K E G O N , M u sk e g o n C o u n ty . Alich .— Bond Election.— On July 17 an
$45,000 road-lm pt. bds. Due $1,500 each 6 m os., Jan. 1 1912 to July 1 election will be held to vote on a proposition to issue $300,000 4 H % water1926, Incl.
•
plant-imp. bds., according to reports. Denom. $1,000. Int. J & J
Due
15.000 Newark & Llnnvllle road bds. Due $500 each 6 m os., Jan. 1 1912 $10,000 yrly. Jan. 1 1915 to 1944 Incl.
to July 1 1926, lncl.
15.000 Newark & Columbus road bds. Due $500 each 6 mos Jan I „ N E W B E R T P R O T E C T IO N D I S T R IC T (P . O . S anta A n a ) , O ra n g e
C o u n ty , C a l. — Bond Offering.— Proposals will be received until 10 a m
1912 to July 1 1926, incl.
.
15.000 road-lm pt. bds. Due $500 each 6 m os., Jan. 1 1912 to July 1 June 24 by the Directors for $49,630 6% bds., it Is stated. Denom S37o’
Date O ct. 1 1907. Int. A . & O. Due from Jan. t 1924 to Jan. 1 l ’o 28. ’
1926, Incl.
N E W B R A U N F E L S . C o m a l C o u n ty , T exas.— Bond Election.— On J u ly 11
15.000 State road bds. Due $500 each 6 m os., Jan. 1 1912 to July 1
1926, Incl.
an election will be held, it is reported, to vote on the question of issuing
12,000 Newark & Wilkins Run road bds. Due $500 each 6 m os., Jan. 1 $67,000 water bonds.
1912 to July 1 1923, incl.
NEW
B R I T A I N , C o n n . — Bonds Authorized.— A resolution has been
A uth. Sec. 7407 to 7463, incl., Gen. Code. Denoin. $500. Date July 1 adopted providing for the issuance of $40,000 4 % 25-yr. sewer bds., it is
1911. Int. J. & J . at the Co. Treas. Bonds to be delivered on or before stated. Denom. $1,000. Date Jan. 1 1911. Int. J. & J.
A ug. 1 1911. Cert, check on a local bank for 10% of bid, payable to the
S C T T M L D I S T R IC T , S tan islau s C o u n ty , C a l .— Bond Sale.—
Pres. Bd. of Co. Commissioners, required. Purch. to pay accrued int
Ihc $o0,000 5% sch.-bldg. bds. (V. 92. p. 1585) were sold on June 13.
Bids must be unconditional.
according to reports, to N . W. Halsey & Co. of San Francisco at 105.182.
LINCOLN COUNTY SCHOOL D ISTRICT NO. 12. Idaho. — B o n d S a le .—
, i , T R I E R T O W N S H I P H IG H S C H O O L D J S T IR C T , C ook C o u n ty ,
On June 17 $16,000 10-19-yr. (ser.) cou p , school bds. were disposed of to ilia
dunc 1,) tb ? 5170,000 4 'A % 3- 19-yr. (ser.) cou p. sell.
the State Board of Land Commissioners as 5s.
,0 2 ’ I - l 433.) were awarded to the Continental & Commercial Nat.
LIN DSAY, Tulare County, Cal.— B on d Election P r o p o se d . — This place, B I i n ? >E '- '
* S o n s, both of C h icago, at their jo in t bid of 1 0 2 .1 0
according to reports, Intends to vote on the Issuance of $55,000 water bds.
r-.ii-2! 5
nY,9,r!frS;)0 ' 0 0 0 J u lY 1 191 !• 5 1 0 ,0 0 0 N o v . 1 1 9 1 1 , $ 4 0 ,0 0 0
■ LITTLE ROCK, Pulaski County, A rk.— B o n d S a le . — On May 24 $63,000 J a n . 1 1912 an d $ 4 0 ,0 0 0 M c h . 1 1 9 1 2 . D e n o m . $ 1 ,0 0 0 . D a te J u ly 1 19 1 1 .
5% paving bds. wereawarded to the Mercantile Trust Co. in St. Louis at 98. ln t . J . & J . in C h icago.
Denom . $500. Date Julv l 1911. In t. J. & J.
Due about $6,500
B c,le V a lle y ), N oble C o u n ty , O h io .— Bonds
yearly, beginning July 1912.
Not Sold— Offering.— The $4,000 4 % 1-10-yr. (ser.) road bds. otfered on
LOS ANGELES COUNTY (P. O. Los Angeles, CaL— B on d S a le.— On May 20 (V . 92, p. 1331) arc being re-advertised, bids to be opened July 15.
June 13 $525,000 4J^% 20 2-3-yr. (av.) highway bds. were purchased by
N O R T H A D A M S , Berkshire C o u n ty , A la ss. — Note Sale.— The S5 non
N. W . Halsey & Co. of San Francisco for $542,025, making the price sewer, $6,000 sidewalk and $1,500 street notes (V . 92, p. 1586) have been
“
103.242. E . II. Rollins & Sons, ollerlng 102.189, were the second highest disposed of.
bidders. These securities are part of an issue of $3,500,000 bds. See page
N O R T H A T T L E B O R O , B ristol C o u n ty , M a s s . — Bond Sale.— N . W . Harris
164, State & City Section, Issued May 27 1911.
bonds it l o V o T arC rcported as having purchased $33,000 4% sewer
LOST NATION, Clinton County, Iowa .— B on d E lectio n . — Reports state
that an election will be held July 10 to vote on a proposition to Issue $12,000
water-works bds.
P.
LO U ISVILLE, Cass County, Neb.— B on d s V oted . — Reports state that wll
an election held June 14 resulted In a vote of 118 to 48 in favor of a proposi 46,
Code. Denom.
______
tion to Issue $16,000 water bonds.
Date May 1 1911. Int.
M._____
& N._________
at the Dist. Treas.
office. Due $500 May 1 1912 and $1,000 yrly. M ay 1 1013 to ToiS incT
LOWELL, Middlesex County. Mass.— Bond Bale.— E. II. Rollins & Sons Cert,
check or cash for $100 required.
of Boston on June 21 was awarded at 102.057— 3.585% basis— it is stated
N O T T I N G H A M , Cuyahoga C ounty, Ohio.— Bond Offering.— Proposals
$118,500 4 % 1-10-yr. (ser.) municipal bds. Date June 1 1911.
will be received until 12 m . July 22 by J. C. Stcinicke, Vil. Clerk, for $5 000
Loa n O fferin g . — Proposals will be received until 10 a. m . June 29, It Is
stated, for a loan of $700,000, due July 1 1912, and a loan of $100,000 duo 4'A % village-hail and equip, bonds. Denom. $500. Date A ug. 1 i o n
Dec. 1 1911. Date July 1 1911.
Int. M. & N. Due $1,000 on N ov. 1 from 1917 tol0 2 1 1n ol. Purchaser
LUTHER, Boone County, Iowa.— B on d s V o ted . — The proposition to to pay accrued Int. Cert, check for 10% of bonds bid for is required.
N O W A T A , N ow a ta C o u n ty , O k la . — Price Paid for Bonds.— Spitzcr, R orissue the $4,800 water bonds (V. 92, p. 1330), it Is stated, carried at the
ick & Co. of T oledo paid par and int. for the $75,000 5 l$ % 20-yr. waterelection held May 29.
bds. (V . 92, p. 1586) awarded them on May 29. Date June 1 191 1
McCOMB CITY, Pike County, Miss .— P rice P aid f o r B o n d s. — The price extension
Interest J. & D.
paid for the $15,000 5% 20-yr. water-works bds. disposed of on June 6 to
O A K D A L E , S ta n isla u s C o u n ty . C a L — Bonds Voted.— The election held
McColgan Bros, of McComb (V . 92, p. 1656) was par. Denom . $500.
on June 3 resulted in favor, It Is stated, of the propositions to issue $50,000
Date June 6 1911. Int. annual.
water and $32,000 sewer bonds (V . 02, p. 1516). Vote on water bonds was
ITN VIL,LIT, Wyandot County, Ohio.— B on d S a le .— On June 13 217
to 48 and on sewer bonds 215 to 48.
?^ °9 2
bUs- wcre awarded to the First National Bank In Cleveland at
O A K H A R B O R . O tta w a C o u n ty , O h io .—Bonds Voted— An election held
102.47 & int. Denom. $500. Date June 1 1911. Int. J. & D.
J un e 20 resulted in fa v o r o f th e p roposition to Issue $ 2 0 ,0 0 0 [w ater b d s.
MACON COUNTY (P, O. Oglethorpe), tia.— B ond E lection . — On July 2o It Is stated. The vote was 329 “ for to 32 “ against.” ..
‘ . Ul!r. ,
a vote will be taken on the question of issuing $150,000 road bds., according
to reports.
O A K L A N D , D o u g la s C o u n ty , Ore — Bonds Voted.— An ele ctio n ' held
June 6. It Is reported, resulted In favor of a proposition to Issue $15,000
M A D ISO N COUNTY (P. O. Huntsville), Ala.— B on d O ffering. — Proposals light and power-plant bonds.
will be received until 12 m. July 10 by W . T . Lawler. Judge o f Probate,
for the $o0,000 4 A % gold coup refund, road bds. Denom. $500. Date . °uCPiAtys ! DE’ San OicK° C o u n ty , C a L — Bond Election.— An election will
July 1 1909. Int. J . & J. at the Mechanics & Metals Nat. Bank in New be held, it Is stated, to vote on the question of Issuing $15,000 5% hleh/0
“ I1. . . . . •,-.a |B| - i • ........................................
XprjG J?uc Ju‘7 J l 939; op t. after July 1 1929. Bonds are exem pt from school bds.
all taxation. Cert, check for $1,000, payable to the Judge of Probate,
O G L E T H O R P E . Alacon C o u n ty , G a . — Bond Offering.— Proposals will he
required.
'
received until 11 a. m . June 26 by C. A . Allison, City Clerk for the $18 ono
cou p, water and light bds. (V . 92, p. 979)
Denom $600?
lilt
M A D ISO N COUNTY (P O. Anderson), Ind .— B on d s Offered b y B a n k ers. 5%&gold
J. att.POglethorpe,
c - Duc 8000 YearlY Ja»- I 1913 to 1942 in d ‘ cm -t’
— An Issue of $4,700 4 ,4 % tax-exem pt Lafayette and Anderson Townships J.
for $
$A
"“lethol'p
$o00,
payable to T . E . MoHett, Treas., required
Bd dt $5 ooo
gravel-road bds. Is being offered by the J. F. Wild & C o State Bank of check
No lloating
lg debt. Assessed val. 1910, $350,000. *
’
*’ Ut‘ 9 ,000'
Indianapolis. Denom $235. Date May 15 1911. Int. M. & N at the Co
OKLAHOMA CITY SCHOOL DISTRICT (P. 0 Oklahoma Citvi nu ..
Treas. office. Due $235 each 6 m os. from May 15 1912 to N ov 15 1921 inc
Bond
Sale.—
On
June
15
the
$235,000
5%
20-yr
bldg
bds
1
v
6 ) ’ n l si
.
„ -------- ... „ 192
M A LH EU R CO. SCHOOL DIST. NO. 15, Ore.— B o n d Sale — The S25 000
awarded to E. It. Rollins & Son and
and the
the w
S
L
h M njoin
L utly,
Western
Nat.
Bank
6% 10-20-yr. (opt.) school-house cou p. bds. recently voted were sold on were
for
$239,9t
1
51
(102.09)
and
int
a
basis
of
about
4
.8
3
6
%
.
The other
une 15 to James N. W right & Co. of Denver at 102 52— a basis o f a out bids follow :
5 ?s % to the op t. date and about 5 % % to full m aturity
Denom Sion
W . A . Brooks, Okla. City-a$239,935 Com. Tr. C o., Kan. C ity___$237,460
Date June 15 1911. Int. J. & D.
tn o m ' b o w .
T . A . T ooey, Okla. C ity------ 239,700 R . J . Edwards, Okla. C i t y . . 2 3 7 , 2 7 6
M ALVERN. Carroll County, Ohio.— B o n d E lectio n . — A ccording to local A . J. M cM ahon------------------- 238,783 Mercantile
Tr. C o., St. L . . _ 2 3 6 , 8 8 0
papers an election will be called soon to vote on the question o f issuing Geo. I. Gilbert, Okla. C it y .. 388,550
J. Nuveen & C o., C h ica go .. 2 3 6 , 6 7 6
$15,000 water bds.
l
luu OI issuing
a Flat bid.
Denom. $1,000. Date July 1 19H .
AlARBLE (P. O. Greenway), Itasca County.
Minn .-—
B on d O ffe r in g _
► r n n n s / v lf t w i l l h n r r m l v p f l i i n H I ft ™
i a k ..
in n
yyc 6
.
ORANG E. Orange C ounty, T exas.— Bonds Voted.— A ccording to reports
• election held *Ginc la'resu lted In a vote of 673 to 45 In favor of the
question of Issuing $43,000 deep-water bonds.
ORANGE COUNTY (P. o . Orange), Texas.— Bonds Voted.— An election
A1ARLBORO, Aliddlcscx County, Alass.— Temporary Loan.— A loan of held
June lo resulted in favor of a proposition to issuo $43,000 5% 10-40-yr
$50,000 has been awarded, $20,000 due In Jan. 1912, to Blake Bros & Co
(opt.) waterway bonds.
v *
/0 x
of Boston at 3.64% discount, and $30,000, due April 16 1912, to Estabrook
ORLEANS COUNTY (P. O. Albion), N. Y.— Bond Sale.— On June 20 the
& Co. of Boston, at 3.68% discount.
MARQUETTE, Marquette County, Mich.— Bond Offering.— Proposals $38,000 4 k % o-yr. (av.) reg. road bds. (V . 92, p. 1657) were awarded to
Adam s & Co. o f New York at 101.131 & int.— a basis of about 4.247%
will be received untl 8 p. m . Juiy 3 by P. Primeau, Com p., for $10,000
1 he bids follow : • ............................................................................................
/B *
iiy
June -4 1911.1
T H E C H R O N IC L E
A d a m s & C o ., N e w Y o r k ____ $ 3 8 , 4 3 0 1Perris & W h it e , N . Y _____ $ 3 8 ,4 2 2 18
D ou glas F enw ick & C o . ,N . Y . 3 8 ,4 2 5 1 H arris, F orb es & C o . , N . Y . 3 8 ,3 4 9 02
D a te J u ly 1 1 9 1 1 .
O X F O R D S C H O O L D I S T R IC T (P . O . O x fo r d ). B utler C o u n ty . O h io .—
Bond Sale.— O n June 19 $ 5 ,0 0 0 4 > 4 % b d s. w ere a w a rd ed to th e F irst N a t .
B a n k In C levelan d a t 1 0 4 .4 5 5 & l n t ., it Is sta te d .
O W O S S O , Shiaw assee C o u n ty , Atich .— Bonds Voted.— A t a n election h eld
J u n e 15 th e Issuance o f $ 5 ,0 0 0 tire-hall b d s . a t n o t ex ce ed in g 5 % ln t . was
a u th o rize d b y a v o te o f 32 4 to 1 1 7 .
D u e O c t. 15 1 9 1 2 , 1 9 1 3 an d 1 9 1 4 .
P A G E C O U N T Y D R A I N A G E D I S T R I C T N O . 8 (P . O . C la r in d a ). I o w a .—
Bond Sale.— O n J un e 15 th e $ 6 5 ,0 0 0 6 % 8 ^ - y r . (a v .) c o u p . b d s. ( V . 9 2 , p .
15 86 ) w ere aw ard ed to th e W m . R . C o m p to n C o . o f S t . L o u is a t 1 0 3 .7 7 — a
basis o f a b o u t 5 . 4 3 % .
E le v e n oth e r b id s w ere receive d .
P A L A C I O S , M a ta g o r d a C o u n ty , T e x a s .—Bonds Voted.— A n election
held J u n e 10 resu lted In fa v o r o f th e q u e stio n o f Issuing $ 1 8 ,0 0 0 w ater b d s.
T h e v o t e , accord in g to rep orts, w as 66 " f o r ” to 38 " a g a i n s t .”
P A S A D E N A . L o s A n g e le s C o u n ty , C a l .—Bond Offering.— F u rth er de
tails are a t h an d relative to th e offering on J u ly 5 o f th e follow in g 4 H %
1 -4 0 -y r . (ser.) gold c o u p . b d s. ( V . 9 2 , p . 1 6 5 7 ):
$ 2 3 ,0 0 0 c ity -h a ll b o n d s.
D e n om in ation $ 5 7 5 .
1 8 ,0 0 0
Ore-apparatus b d s. D e n o m . 4 0 b d s. o f $ 2 5 0 a n d $ 2 0 0 ea ch .
Proposals for these b ond s will b e received u n til 9 a . m . on th a t d a y (J uly 5)
b y H e m a n D y e r , C ity C lerk .
D a te June 1 1 9 1 1 .
In t. J . & D .
C ert,
ch eck on a b an k In P asad en a or L o s A n geles fo r 2 % o f b d s . b id for, p ayab le
to the C lerk , Is requ ired .
B ids m u st be m a d e on b lan k fo rm s Issued b y the
c ity .
B o n d s will be ap p ro v ed b y O ’ M e lv e n y , S te v en s & M lllik cn , w hose
op in ion w ill b e furnished to th e p urchaser. A cc ru ed Interest to bo paid
b y purchaser.
P IN E R I V E R S C H O O L D I S T R IC T ( P . O . P ine R iv e r ). C a ss C o u n ty .
A lin n .— Bond Issue Rescinded.— A n Issue o f $ 2 6 ,0 0 0 b ld g . b d s. recen tly
a u th o rize d has been rescind ed.
P I Q U A , Aliami C o u n ty , O h io .— B on d S a le .— O n M arch 16 $ 1 1 ,5 0 0 5 %
sew er b d s . w ere aw ard ed to th e S in k in g F u n d T ru ste es a t p a r .
D enom .
$500.
In t. M . & S .
P O N T O T O C C O U N T Y S C H O O L D I S T R I C T N O . 7 ( P . O . A la x w c ll),
O k la .— Bond Sale.— Speer & D o w o f F o r t S m ith h a v e been aw ard ed $ 1 ,5 0 0
« % b ld g . b d s.
D enom . $5 00 .
Due Jan. 1 1931.
P O T T S V I L L E . S ch uylkill C o u n ty , P a — Bond Sale .— O n June 2 0 th e
$ 8 ,5 0 0 b d s. w ere a w a r d e d , $ 5 0 0 to M a r y W a g n e r a t 1 0 1 , $ 3 ,0 0 0 to E llz .
Q u in n a t 1 0 0 .5 0 , $ 5 0 0 to E d w . M . B u rgan a t 1 0 0 .1 0 an d $ 4 ,5 0 0 to D . H .
S eib ert a t 1 0 0 .0 5 .
P R E B L E C O U N T Y (P . O . E a t o n ). O h io .— Bond Offering— P roposals
w ill be received u ntil J u ly 8 b y the C o u n ty C om m issio n ers, accord in g to
r ep o r ts, for $ 3 ,9 6 0 4 ^ % d itch b d s.
I n t . sem i-a n n u a l.
P R I N C E G E O R G E ’ S C O U N T Y S C H O O L D I S T R I C T ( P . O . U p p er M arl
b o r o ), A id .— Bond Sale.— O n M a y 2 th e $ 8 ,0 0 0 5 % 3 0 -y r . c o u p , h lg h -s c h .b ld g . b d s . ( V . 9 2 , p . 1135) w ere aw ard ed to T o w n sen d S c o tt & S o n of
B a ltim o re a t 107 & ln t .— 4 . 5 6 8 % b a sis.
D e n o m . $ 1 ,0 0 0 .
D a te M a y 1
1911.
In t. M . & N .
R E A D I N G , M id d lese x C o u n ty , A la ss .— Temporary Loan .— W e are a d
vise d t h a t the a m o u n t o f th e loan n egotiated on June 13 w ith E sta b ro o k
& C o . o f B osto n a t 3 . 5 8 % d iscou n t ( V . 9 2 , p . 1658) w as $ 1 5 ,0 0 0 , a n d n o t
$ 1 5 0 ,0 0 0 as a t first rep orted .
T h e loan Is due M a y 2 0 1 9 1 2 .
• R E D O N D O B E A C H , C a l .— Bond Election Postponed.— T h e election
w h ich w as to h a v e been held J un e 24 to v o t e on th e q u e stio n o f Issuing
$ 7 5 ,0 0 0 5 % sch ool b d s. ( V . 9 2 , p . 16 58) has been p o stp o n e d . It Is sta te d ,
u n til J u ly 10 .
R E D R I V E R P A R I S H S C H O O L D I S T R IC T N O . 1 (P . O . C o u s h a tta ),
L a . —Bids Rejected.— A ll bids received on J un e 15 for th e $ 2 5 ,0 0 0 5 % 5 -3 0 y r . (ser.) gold c o u p . b ld g . b d s. ( V . 9 2 , p . 1587) were r ejec te d .
R E N S S E L A E R , R en sselaer C o u n ty , N . Y .—Bonds Re-awarded.— T h e
$ 1 4 5 ,0 0 0 4 Yi% 1 6 -y r . (a v .) rcg. G rccn b ush Im p . r ef. b d s. aw ard ed on J un e 5
to E . I I . R o llin s & S ons a t 1 0 4 .5 6 9 w ere refu sed b y th a t firm on Jun e 2 0 .
T h e C oun cil su b se q u e n tly a c ce p ted th e n e x t h ighest b id , th a t o f F arson
S on & C o . o f N e w Y o r k , a t 1 0 3 .6 8 4 .
R I P O N H IG H S C H O O L D I S T R IC T (P . O . R ip o n ), San J oaq u in C o u n ty ,
C a l .—Bonds Defeated.— A n election held Jun e 15 resu lted In th e d efea t o f
a p roposition to Issue $ 2 2 ,5 0 0 5 % 2 2 -y r . b ld g . b d s.
R O C H E S T E R . N . Y .— Note Offering.— P rop osals w ill b e received u ntil
2 p . m . J un e 29 b y C h a s .F . P o n d , C ity C o m p troller, for $ 1 0 0 ,0 0 0 refu sed isposa l n o te s.
Principal and Interest w ill b e p a y a b le eig h t m o n th s from
J u ly 3 1011 a t th e U n ion T r u st C o. In N e w Y o r k .
D e n o m in a tio n o f n otes
a n d r a te o f Interest desired Is to be d esign ated b y th e b id d e r.
R O C K Y R I V E R , C u y a h o g a C o u n ty , O h io .—Bond Sale.— O n J un e 16 th e
$ 5 ,5 1 2 4 'A% 5 H -y r . (a v .) c o u p , s tr e e t-lm p t. assessm en t b d s . ( V . 9 2 , p .
1587) w ere aw arded to th e F irst N a t . B k . a t 1 0 1 .5 7 3 — a b asis o f a b o u t
4 .2 0 % .
T h e bids follow :
F irst N a t . B a n k , .................. . $ 5 , 5 9 9 7 5 1N ew F irst N a t . I l k ., C o l..............$ 5 ,5 7 9
H a y d e n , M iller & C o ., C lev . 5 ,5 8 4 0 0 1O tis & H o u g h , C le v e la n d _____5 ,5 5 5
1717
SAPULPA, Creek County. Okla.— Bond E lection.— An election wll be
held June 28 to vote on the question o f issuing $75,000 water-works bonds.
It Is reported.
SCHENECTADY COUNTY (P. O. Schenectady), N. Y.— Bond Offering.—
Proposals will be received until 12 m . June 28 by J. I. W inne, Treas., for
$100,000 4 M % cou p, (with prlv. o f reg.) court-house and jail bds. A uth.
Chap. 415, Laws of 1908. Denom . $1,000. Date July 1 1911. I n t .J . & J .
at the Citizens’ Trust C o., Schenectady. Due $12,000 yrly. on July 1 from
1934 to 1941, lncl., and $4,000 on July 1 1942. Cert, check on a bank or
trust co . for 2 % of bonds bid for, payable to the Treas., Is required.
SCOTT COUNTY (P. O. Scottsburg), Ind.— Bonds Offered b y Bankers.—
In Its circular for June the J . F. W ild & Co. State Bank o f Indianapolis Is
offering for sale $4,450 80 4 J j% Lexington Township gravel-road bds. De
nom . $222 54. Date May 15 1911. Int. M. & N. at the County Treas
urer’s office. Due $222 54 each six months from May 15 1912 to N ov. 15
1921, lncl. Bonds are tax-exem pt.
SEATTLE, Wash.— Bond Sales fo r M a y .— During the m onth o f May the
following bds., aggregating $142,895 38, were Issued b y this city:
Am ount.
Int. Rate.
Date.
Due.
$69,622 90___________________
7 May
1 1911
May 1 1921
6,093 93______________________ 7
May
1 1911
M ay 1 1916
8,489 0 8 ______________________ 7
May
1 1911
M ay 6 1921
10,237 11______________________
7
May 10 1911
M ay 10 1916
5,700 2 6 _________________
7 May 15 1911
M ay 15 1916
8,219 5 1 ______________________ 7
May 22 1911
M ay 22 1916
7,146 2 2 ______________
7
May 221911
M ay 22 1916
6
May 25 1911
May 25 1916
4,995 4 3 ______________________
22,390 9 4 ______________________
6
May 22 1911
M ay 22 1921
The above bonds are all optional after ome year.
SE D G W IC K COUNTY (P. O. Wichita), Kan.— Bonds V o ted — An elec
tlon held June 17 resulted In fa vor o f the proposition to Issue $7,311 14 5%
W est Central & West Maple road bonds. It Is stated. Denom. $700, except
one bd. of $1,011 14. Date July 1 1911. I n t .J . & J. Due one each year.
SHAWNEE, Perry County, Ohio.— Bond Sale.— On June 13 the $1,200
6% 1-6-yr. (ser.) flre-dept. bds. (V . 92, p. 1587) were awarded, it Is stated,
to the Shawnee Bank Co. In Shawnee.
SHELBY COUNTY (P. O. Memphis), Tenn.— Bond Sale.— The Bank of
Commerce & Trust Co. of Memphis purchased on June 14 $200,000 4 J$%
30-yr. cou p. sch. bds. dated July 1 1911. The price paid was 101.525—
a basis of about 4 .409 % . The following bids were received:
Bk. of Com. & T r. C o., Mem_101.525|SecurIty B k. & T r. Co., M em .100.625
Man. Sav. B k .& T r.C o.,M em .l0 1.2 5 Commercial S av. Bank & T r.
Scasongood &-Mayer, Clncln.l01.084| C o., M em p his................. __100.125
Denomination $1,000. Interest J . & J. In New York or Memphis.
SHINER, Lavaca County, Tex.— Bonds Sold.— The $8,000 5 % 5-20-yr.
(opt.) water bds. registered on F eb. 28 (V . 92, p . 828) have been awarded
to local Investors.
SH IN ER INDEPEN DEN T SCHOOL DISTRICT (P. O. Shiner), Lavaca
County, Tex.— Bond Election.— An election has been ordered for July 18
to decide whether or not this district shall Issue $12,000 bldg, bonds.
SIOUX FA L L S, Minnehaha C ounty, So. Dak .— Bond Election Rescinded.
— The election which was to have been held June 27 to vote on the question
of Issuing the $100,000 water bds. (V . 92, p. 1658) has been called off, It in
stated.
SNOHOMISH, Snohomish County, Wash.— Bonds Voted.— The election
held June 7 resulted. It Is stated. In a vo te o f 174 to 9 in favor o f the propo
sition to Issue the $110,000 20-yr. water bds. awarded on March 21 to the
Atlas Construction Co. o f Everett (V . 92. p. 904).
.
SOCIAL CIRCLE, Walton County, Ga.— Bonds'Defeated.— The election
held June 15 resulted In the defeat of the question o f Issuing the $5,000 5%
20-year school bonds (V . 92, p. 1587).
•
SOUTH STILLW ATER, Washington County, Minn.— Bond Offering.—
Proposals will be received until 8 p. m. July 5 by C. A . Anderson, Recorder,
for $5,000 6% water bds. Denom . $500. Due $1,000 A ug. 1 1913 or on
any A ug. 1 thereafter.
SPOKANE, Wash.— Rate o f Interest.— The $415,000 20-yr. gold cou p,
bridge bonds awarded to W m . A . Read & Co. o f Chicago at 102.035 & lnt.
— 4.347% basis (V . 92, p. 1658)— bear 4J*% Int.
STAMBAUGH, Iron County, Mich.— Bond Offering Postponed.— The
offering of the $5,000 5% street and sidewalk bds. which was to have taken
place June 15 (V . 92, p. 1587) was postponed until June 26.
STEU BENVILLE. Jefferson County, Ohio.— Bond Sale.— The following
bids were received on June 20 fo r the $41,000 6J<-yr. (av.) sewer and the
$2,000 7-yr. (av.) st. 4 H % co u p , assessment bonds (V . 92, p. 1587):
$41,000 Bds.
$2,000 Bds
Stacy & Braun, T o le d o-------------$42,164 90
$2,032 80
V inton Banking C o., V in ton ______ _____ ______
_______
2,062 00
New First Nat. Bank, Columbus..... ................... . . 42,033 00
2,023 00
First Nat. Bank, Cleveland--------------------------------- 41,929 25
2,020 75
Otis & Hough, Cleveland------------------------------------ 41,820 00
2,040 00
National Exchange Bank, Steubenville_________ 41,707 00
2,033 00
R O A IE . O neida C o u n ty . N . Y .— Bond Offering.— P rop osals w ill b e re
Seasongood & M ayer,C incinnati------------------------- 41,627 30
2,022 00
Weil, R oth & Co.. Cincinnati---------------------------- 41,100 00
______
c eiv e d u n til 11 a . m . J u ly 6 b y A . L . M ac M aster, C ity C lerk , fo r $ 1 6 0 ,0 0 0
4 % reg. r e f. w ater b d s.
A u th . C hap. 65 0, Law s of 1904.
D e n o m . $ 1 ,0 0 0 .
SUGAR C R E E K TOWNSHIP, Shelby County, Ind.— Bonds Offered.by
Bankers.— An Issue of $17,550 4 >f% 1-15-yr. (ser.) tax-exem pt schoolD a te J u ly 1 1 9 1 1 .
I n t . J . & J . a t th e N a t . P ark B an k in N e w Y o r k .
Duo
house bds. Is being offered to Investors b y the J. F. W ild & Co. State Bank
In 20 y r s.
Purchaser to p a y accrued In t.
of Indianapolis. Denom. $585. Date July 1 1911. Int. J. & J. at the
The official notice of this bond offering will be found among the advertise Falrland N at. Bank in Falrland. B d. debt, this Issue. Assessed val.,
$888,510. Real val. (est.), $1,700,000.
ments elsewhere in this Department.
SU LLY COUNTY (P. O. Oneida), So. Dak.— Bond Offering.— Proposals
S A C R A A IE N T O , Sacram en to C o u n ty , C a l .— Bonds Voted.— T h e question
will be received until 3 p .m . June 27 b y Jas. I. O ’ Donnell, C ounty A uditor,
o f Issuing the $ 7 0 0 ,0 0 0 elem e n tary and $ 1 0 0 ,0 0 0 h igh -sch ool b d s. ( V . 9 2 ,
for $30,000 5% cou p, court-house bds. A uthority Sec. 972, page 170, and
p . 1517) received a favorab le v o te . It Is sta te d , a t the election h eld J un e 9 .
Sec. 847, page 151, Revised P ol. Code of 1903. Denom . $500. Date July
T h e v o te for th e elem e n tary b d s. w as 2 ,0 6 0 to 7 3 7 , for the h igh -sch ool b d s.
1911. I n t .J . & J. Due 20 yrs., op t. In 5, 10 and 15 yrs. Cert, check for
1 ,9 5 9 to 8 1 5 .
$200, payable to the County T reas., required. Total debt, this Issue.
S T . H E L E N A U N IO N H IG H S C H O O L D I S T R I C T . N a p a C o u n ty , C a l.—
Assess, value, $3,509,589.
Bond Offering.— P roposals will be received u ntil 10 a . m . Ju ly 10 b y th e
Bonds R efused.— The above securities were awarded on April 7 to F. E .
C lerk of the S up ervisors, it Is s ta te d , for $ 3 0 ,0 0 0 5 % b d s.
V . 9 2 , p . 1587.
Magraw of St. Paul (V . 92. p. 1059), who subsequently refused the bonds
D e n o m in a tio n $ 5 0 0 .
In terest sem i-a n n u a l.
M a tu r ity $ 5 0 0 y e a rly from
for the reason that they were n ot advertised a sufficient length of time.
on e to five years In clusive, $ 1 ,0 0 0 ye a rly from six to ten years Inclusive,
SUPERIOR TOW NSHIP, Lawrence County, Ohio.— Bond Sale.— On
$ 2 ,0 0 0 y e a rly fro m eleven to fifteen years Inclusive an d $ 2 ,5 0 0 y e arly from
June 1 the $2,500 4 U % cem etery bds. (V . 92, p. 1455) were awarded to
sixtee n to tw e n ty years In clusive.
Ilutlon & Blsltlne o f Bradner at 103.40. T he bids follow:
S T . J A A IE S , P h e lp s C o u n ty , M o .— Description of Bonds .— T h e $ 3 ,0 0 0
H utlon & Blsltlne, B ra d n e r..$ 2,585ISec. Sav. B k. & T r. C o., T ol_.$ 2 ,5 07
s c h .-b ld g . b d s . v o t e d on A p ril 4 ( V . 0 2 , p . 1058) b ear in t. a t 5 % an d are
New First Nat. B k., C o lu m .. 2,586 |Montpelier Nat. Bank------------2,505
c o u p , in fo r m .
D e n o m . $ 1 ,0 0 0 .
D a te J u ly 1 1 9 1 1 .
I n t . J . & D . a t th e
Date May 1 1911. Due from M ay 1912 to May 1916.
M c r c h a n ts -L a cled e N a t . B an k In S t . L o u is.
D u e In 1 9 3 1 , o p t . after 10
y e a rs.
B on d ed d e b t, ln cl. this Issue, $ 9 ,0 0 0 .
N o floatin g d e b t.
A ssess,
v a l. 1 9 1 0 , $ 3 7 5 ,0 0 0 .
S T . P E T E R S B U R G . H illsb oro C o u n ty , F la .— B onds Voted.— 'The election
held J un e 13 resulted In a v o te o f 129 “ for” to 41 “ ag a in st” th e qu estion of
Issuing th e $ 1 0 0 ,0 0 0 6 % 3 0 -y r . street, park an d w ater-w ork s lm p t . b d s. ( V .
92 , p . 9 8 0 ).
W e are ad vised th at these bond s w ill be offered for sale so o n .
S A L M O N C I T Y , Lem hi C o u n ty . Id a h o .— Bond Sale.—J. N . W r ig h t &
C o . o f D e n ve r h a v e been aw arded the $ 5 0 ,0 0 0 6 % 1 0 -2 0 -y r . (o p t.) w ater
b id s, v o te d on F e b . 2 1 .
V . 92 , p. 617.
S A N D U S K Y , Eric C o u n ty , O h io .—Bond Sale.— On Jun o 19 th e $ 1 4 ,0 0 0
5-yr. (av.) Franklin St. and $11,000 W ashington St. bds. (V . 92, p. 1517)
were awarded to the Third N at. Exchange Bank In Sandusky at 100.236
and 100.245, respectively. The bids follow:
$14,000 issue. $11,000 issue.
Third N at. Exchange Bank, Sandusky_________ $14,033 15
$11,027 00
Stacy & Braun, T oled o -------------------------------------- 14,007 00
11,005 50
Citizens’ Banking C o., Sandusky---------------------- 14,000 00
11,000 00
American Banking & Trust Co., Sandusky_______________
11,011 00
SAN G A B R IE L SCHOOL DISTRICT, Los Angeles County, Cal.— Bond
Election.— An election will be held, It is stated, to vote on the question of
Issuing $20,000 bonds.
SANGAMON COUNTY TOWNSHIP HIGH SCHOOL DISTRICT No. 13-5,
III,— Bond Sale.— E. II. Rollins & Sons of Chicago recently bought $25,000
5% 5J^-yr. (av.) bds. at 102.75 & lnt.— a basis of about 4 .4 3 % . The pur
chase was made with the condition that the bonds be favorably voted upon.
SAN JOSE, Santa Clara County, Cal.— Bonds Voted.— Reports state that
an election held Juno 16 to vote on the question of Issuing the following
4 H % 40-yr. bds. (V . 92, p. 1454) resulted iu favor o f the same: $110,000
Alum R ock Park, $100,000 sewer, $60,000 fire and police department,
$50,000 incinerator, $55,000 bridge and creek Im provem ent and $2,000
station.
SANTA FE, N. Mcx.— Bonds Proposed.— This place, It Is stated, pro
..................
poses to Issue $16,000 4 % refund, bds.
SYCAMORE SCHOOL DISTRICT (P. O. Sycamore). Wyandot County.
Ohio.— Bonds Defeated.— An election held recently Is said to have resulted
In a vote o f 42 “ for” and 44 "against” the question o f Issuing $2,000 bldg,
bonds.
SYRACUSE, N. Y .— Bond Offering.— Proposals will be received until
1 p. m. June 27 b y M. E. Monahan, C om pt., for the following
regis
tered Improvement bonds:
$190,000 im pt. bds. Due $19,000 y rly., June 1 1912 to 1921, lncl.
15,000
sidewalk bds. Due $3,000 yrly. June 1 1912 to 1916, lncl.
Denom. $500 or multiples thereof at the option of buyer. . Date June 1
1911. Int. J. & D. at the Columbia Trust Co. of N. Y . Bds. are exem pt
from taxation and will be delivered July 7 1911 unless a subsequent date
shall be mutually agreed upon. Cert, check for 2% of bds. bid for, payable
to the Com pt., required. Proposals must be unconditional and made on
forms furnished b y city. Bonds will be certified as to genuineness b y the
Columbia Trust Co. of N. Y . Their legality will be exam ined by Caldwell,
Massllch & Reed o f N. Y ., whose opinion will be furnished to purchaser.
TARRYTOWN, N. Y.— Bond Sale.— The $30,000 water bonds offered
on June21 (V . 92, p. 1518) attracted the following list o f bids:
Kissel, Kinnlcutt & Co.,
E.H . Rollins & S ons,B os.a$30,051 00
New Y o r k ____________ a$30,164 10 Geo. M. Ilahn, New York a30,045 00
W atson& Pressprlch.N .Y . a30,153 00 O ’ Connor & Kaliler, N .Y . a30,043 75
Estabrook & C o., N. Y . . a30,093 30 John J. Hart, A lb a n y ... a30,028 50
Morris Bros., New Y o r k . a30,085 20 Ferris & W hite, N. Y — a30,015 00
H arris,F orbcs& C o..N .Y . a30,085 00 Farson, Son & Co., N . Y . 230,064 80
R . M. Grant & Co., N. Y . a30,056 40 A . B. Leach & C o., N . Y . 230,021 30
a For 4 H s. x For 4 t-5s.
■ W c are advised that the bid o f W atson & Pressprlch has been accepted. •
TOLEDO, Lucas C ounty, O hio.— Bond Sale.— On June 21 the $150,000
4% 10-yr. coup, bridge-const, bds. (V. 92, p. 1588) were awarded to H ay
den, Miller & Co. o f Cleveland at 100.34 and lnt., a basis of about 3 .9 5 9 % .
Other bids follow:
Stacy & Braun, T o le d o ..$ 1 5 0 ,2 2 2 00|Otis & H ough, Cleveland $150,011 57
TROY. N. Y .— Loan Offering.— Proposals will be received until 11 a.m ’
June 30 b y H . W . Gordinler, C om p., for the following loans:
1718
T H E C H R O N IC L E
[ V( )L. L X X X X U .
$180,000 00 4 'A % reservoir bds. Date June 1 1911. Due $9,000 yearly
June 1 1912 to 1931 Incl.
15,941 42 5% assess, bds. Date June 30 1911. Due $7,970 71 iu 1
year and $7,970 71 In 2 years.
12,000 00 4 y i% viaduct bds. Date June 1 1911. Due $1,200 yrly.
June 1 1912 to 1921 Incl.
100,000 00 5% certificates of Indebtedness. Date June 30 1911. Due
A . B . Leach & C o., B o s t o n ..102.437 N. W . Harris & C o .,In c.,B o s .101.58
Hayden, Stone & C o., B ostonl02.028 M. S. Bird & C o., P o rtla n d ..1 0 1 .35
Spitzer, Rorick & C o., N. Y . 101.913 Edmunds Bros., B oston_____ 101.33
C. H . Gilman, P ortland_____ 101.835 Fidelity Tr. Co., P o r t la n d ... 101.17
Merrill, Oldham & C o., B o s ..101.83 Fred. F. T albot, P ortland__ 101.065
E . II. Rollins & Sons, Boston 101.81 Perry, Coffin & Burr. Boston 100.03
E . M. Farnsworth & C o., B ostlO l.76
O c t. 18 19 11 .
W E S T V I L L E S C H O O L D I S T R IC T (P . O . N ew H a v e n ), C o n n .— Bond
Certified check for 1% of bonds bid for required.
Sale.— On June 15 $40,000 4 A % site-purchase and bldg. bds. were awarded
U N A D I L L A , D ooly C o u n ty , G a . — Bonds Voted.— The election held
to E. II. Rollins & Sons of Boston at 105.169— a 4.20% basis. The fol
June 15 resulted In a vote of 98 to 15 In favor o f the question of Issuing the lowing bids were received:
$15,500 sewer and $12,500 water 6 % 15-28-yr. (o p t.) bonds ( V . 92, p . 1588).
E. H. Rollins & Sons, B os.$42,067 601 Harris, Forbes & C o., N .Y ..$ 4 1 ,4 3 2
Hinoks Bros. & Co. N . Y . 41,908 00|H. C. Warren & C o., N. Y . . . 40,900
U P P E R D U B L I N T O W N S H I P , P a — Bond Sale.— On M ay 27 an issue
Denom. $1,000. Date July 1 1911. Int. J. & J. Due July 1 1941.
of $35,000 4 >3% road-lm pt. bds. was awarded to Heyl & Co. of Philadelphia
W H I T E R I V E R T O W N S H I P , Randolph C ounty, I n d . — Bonds Offered by
at 104.472. Denotn. $500. Date June 1 1911. Int. J. & D.
Bankers.— An issue of $27,000 4J^% tax-exem pt school-house bonds is be
V A N B U R E N T O W N S H I P , G rant C o u n ty , In d .— Bonds Offered by
oirered by the J. F . Wild & Co. State Bank of Indianapolis. Denom.
Bankers.— An Issue of $37,500 4 '4 % 1-15-yr. (ser.) tax-exem pt school-house ing
bds. Is being offered to Investors at a price yielding 4 % Int. by the J. F. $500 and $300. Date July 1 1911. Int. J. & J. at the Randolph County
Bank In Winchester. Due $1,800 on July 1 1912, $1,000 on Jan. 1 and
W ild <5c Co. State Bank of Indianapolis. D enom . $500. Date July 1 1911. $800
on July 1 each yr. from 1913 to 1915, Incl., and each yr. from 1918 to
Int. J. & J. at the Van Buren Bank of Van Buren. Bonded debt, this Issue.
1926, Incl. Total bonded debt, Including this issue, $37,300.
Assessed value, $2,242,315. Heal value (est.), $4,400,000.
W H I T E S B O R O , Oneida C o u n ty , N . Y . — Bond Offering.— G. P . M orse,
V I A N , S eq uoyah C o u n ty , O k la .— Bond Sale.— On June 15 the $20,000
will olfer at public auction at 2 p. m . June 27 the following r eg .
6% coup, water bds. voted on April 4 (V . 92, p. 1136) were awarded to VU. Treas.,
at not exceeding 5% int.:
Speer & Dow of Fort Sm ith. D enom . $1,000. • Date April 15 1911. Due bonds
$7,500 00 paving bds. (V . 92, p. 983). A uth. Sec. 59-a, Vil. Charter; Sec.
$5,000 A ug. 1 1916, 1921, 1926 and 1931.
128, 129 & 166, Vil. Law, and election held April 4 1011. De
W A R R E N , T r u m b u ll C o u n ty , O hio.— Bond Sale.— The 510,000 4 >4%
nom. $500. Int. J. & J. Due $500 y ’ rly July 1 1016 to ’ 30,Incl.
17 'A-yr. (av.) Packard Park bds. (V . 92, p. 1518) were awarded on June 17
1,939 05 highway bds. A uth. Sec. 59-a & 59-b, Vil. Charter; Sec. 128 &
to Well, R oth & Co. of Cincinnati at 105.65 & Int.— 4.047% basis. Fol
129, Vil. Law; Sec. 137, Highway Law .and election held Mch. 21
lowing are the bids received:
1910. Denom. $387 81. Int. July 1. Due $387 81. July 1
New First N at. Bk., Colum .$10,553 Prov. S av. Bk. & T r. C o., CIn$10,525
1912 to 1916, incl.
Seasongood & Mayer, C in— 10,533 S tacy & Braun, T oled o _____ 10,518
-,vPa £c
1 1911. Bds. will be delivered July 1 1911. A deposit o f
Otis & Hough, Cleveland---- 10,533
Union N at. Bank, W a rre n .. 10,400
•>% of purchase price, payable to the Treas. at the time of sale, required.
First N at. Bank, Cleveland. 10,528
W I L K E S -B A R R E . Lu zerne C o u n ty . P a . — Bond Offering.— A ccording to
W A S H I N G T O N C O U N T Y (P . O . W a s h in g t o n ) , P a .— Bond S a le — On
reports, proposals will be received until 12 m . July 1 by Chas. It H oyt,
June 15 the $500,000 4 % 1-20-yr. (ser.) road bds. (V . 92, p. 1588) were Chairman l'Inancc Comm ittee, for $36,000 5% 5-16-ycar (serial) sewer
awarded to J. S. & W . S. Kuhn, Inc., of Pittsburgh, and E . II. Rollins <& bonds. Interest semi-annual.
. .
. ..
Sons o f New York, Jointly, at 101.14 and Int.— a 4.36% basis. We are
I N D E R , J ack son C o u n ty , G a . — Bonds Voted.— 'flic proposition to Issue
nformed that the bonds bear date of July 11911 and are subject to the State theW$21,000
5%
30-yr.
sewer
bds.
(V
.
92,
p.
1589)
carried
by
a
vote of 233
tax of four mills. The first block o f $350,000 Is to be delivered as the to 5 at the election held June 15. Int. semi-annually.
m oney is needed and the second block of $150,000 on Dec. 15 1911, the purW O B U R N , A liddlesex C o u n ty , Alass.— Loan Offering.— Proposals will
•hascr to have the option of maturities delivered.
be received until 10 a. m. June 27, It Is stated, for a loan of $40,000, due
W A T E R D A L E S C H 3 0 L D I S T R I C T , L os A n g e le s C o u n ty , C a l. — Bond
Dec. 1 1911.
Election.— An election will be held June 26, it Is stated, to vote on the ques
W O O D B U R N , Alarion C o u n ty , O r e . — Bond Sale. — T h e $4,087 07 6 %
tion of Issuing $1,000 bonds.
1-10-yr. (opt.) sewer bds. (V . 92, p. 830) were awarded on June 1 to the
W A T E R T O W N , A la s s . — Temporary L oa n .— A loan o f $50,000 due
Bank of W oodburn at par & Int. Denom. $408 70. Date Mch. 1 1911.
April 29 1912, has been negotiated, It Is reported, with the Old Colony Trust Int. M. & S.
Co. of Boston at 3.57% discount and a premium of 40 cents.
W O O D C O U N T Y (P . O . P a r k e r sb u r g ), W . V a . — Bids Rejected.— A ccord
W A T T S , Los Angeles C ounty, Cal.— Bonds Defeated.— An election held
ing to dispatches, only two bids were received on June 20 for the $180,000
April 6 resulted In the defeat of a proposition to Issue $12,000 5% light bds.
‘l A % 20-30-yr. (opt.) coupon Parkersburg Magisterial District road bonds.
Being below par, they were rejected. V . 92. p. 1660.
W E N D E L L G R A D E D S C H O O L D I S T R I C T , W a k e C o u n ty , N o . C a r o .—
Bond Sale.— A ccording to reports, the $10,000 6% 30-yr. bldg. bds. (V. 92,
W O O N S O C K E T , R . I . — Bond Offering.— Further details are at hand rela
p. 1589) were awarded on June 15 to the New First Nat. Bank o f Colum tive to the ollcrlng on June 29 of the $250,000 4% and $250,000 4 U % cou p,
bus at 102.38— 4.80% basis.
funding bds. (V . 92, p. 1660). Proposals will be received until 10 a m .
W E S T B R O O K , C u m berlan d C o u n ty , Ale. — B ids.— Other bids received
on that day by A. J . Follett, City Treas. Denom. $ 1,000. Date June 1 1911.
•n June 15 for the $25,000 4 % 15% -yr. (av.) coup. ref. bds. awarded to
Int. J. &JD. at the First N at. Bank o f Boston. Due June 1 1941. These
O’ Connor & Kahler of N . Y . at 102.96 & Int. (V . 92, p. 1660) were:
bds. will be exchanged for reg.£bds. at holder’s request. Bonds will be
NEW
NEW
LOAN S
LOAN S.
$ 1 2 5 ,0 0 0
SALE OF CITY OF LOUISVILLE
CITY OF HOBOKEN, N. J.
FOUR AND A HALF PER CENT GOLD BONDS
CITY HALL BUILDING BONDS
OFFIC E OF T H E COM M ISSIO N ERS OF T H E S IN K IN G F U N D ,
City Hall A nnex, Louisville, K y ., June 15th, 1911.
F O R S A L E — So m any of the bonds o f the City o f Louisville as m ay be necessary to refund and
p ay off the principal of $300,000 00 of bonds of the City of Louisville, known as Old Liability Bonds,
one thousand dollars each, dated April 14th, 1886, due August 1st, 1911.
The bonds which arc to be Issued arc to be dated August 1st, 1911, styled and known as "C ity of
Louisville R efunding Gold Bonds, Eleventh Issue,” due and payable August 1st, 1921. Said bonds
are to be of the denom ination of one thousand dollars each, bearing interest at the rate of four anil a
half per centum per annum, payable semi-annually on the first days of February and August of each
year, principal and interest payable in gold coin of the United States of the present standard of weight
and llneness, at the First National Bank of the City of New York In the State of New York. These
bonds are Issued by virtue of an ordinance of the General Council of tho City of Louisville, approved
June 5th, 1911, and published, as b y law required, on ’ June 6th, 1911; arc exem pt from any and all
forms of taxation for municipal purposes by the City of Louisville, by reason of any present or future
law or laws of said City, and under authority of an A ct of the General Assem bly of the Commonwealth
of Kentucky for the governm ent of cities of the tlrst class In the State of K entucky, approved March
22d, 1902, being Section 3010 of the Keutucky Statutes.
Sealed proposals will be received b y the Commissioners of the Sinking Fund of the City of Louis
ville until 12 o ’clock m. on Alonday. July 10th, 1911, at the office o f the Com m issioners of the Slnkng Fund, Louisville, K y ., for the purchase of the whole or any number of aforesaid bonds
P ro
posals must be upon blanks furnished by the Commissioners of the Sinking Fund, scaled and addressed
to the "Commissioners of the Sinking Fund of the City of Louisville,” City Hall Annex, Louisville, and
marked “ Proposals for B ond s.”
The Commissioners of the Sinking Fund o f the City of Louisville reserve the right to reject
all bids, or to accept the whole or any part of a bid for the bonds proposed to be purchased by any
bidder. No proposal will be considered, unless accom panied by a certified check on a national bank
or State bank doing business In the City of Louisville, payable to the order of the "Com m issioners of
the Sinking Fund of the "C ity of Louisville” for tw o per centum of the face value of the whole number
of bonds proposed to be purchased b y such bidder. Checks will be returned to the unsuccessful
bidders.
Bonds will be ready for delivery In the City of Louisville at the Office of the Commissioners of
the Sinking Fund as soon as the allotments are made to the successful bidder or bidders.
A failure to deposit a certlllcil check In full paym ent of the amount of bonds bid for and allotted
to any bidder, on five days’ notice that same are ready for delivery, m ay be, at the option of the
Commissioners of the Sinking Fund, considered as a cancellation of the bid.
The amount of the check accom panying the bid will be held for the paym ent of any expense,
loss or damage caused b y reason of the failure to pay for said bonds to the extent of any such expense,
loss or damage Incurred.
•
JAM ES B. B R O W N , President.
J. M. T E R R Y , Treasurer & Secretary.
Public notice Is hereby given that the Mayor
and Council of the City of H oboken will receive
proposals on
W E D N E S D A Y A F T E R N O O N . J U N E 28TH 1911.
at four o ’clock,
for the purchase of one hundred and twenty-live
thousand ($125,000) dollars bonds of the c it y of
H oboken, bearing Interest at the rate of four and
one-half per centum (4J^% ) per annum, payable
semi-annually on January first and July first
each year, and to run for a period of twenty (20)
years from date of Issue.
The above-m entioned bonds are Issued under
and by virtue of the provisions of an A ct of the
Legislature of the State of New Jersey, entitled
“ An A ct to enable cities In this State to extend,
alter, enlarge, furnish and equip city hall build
ings,” approved May 1 1911, and by virtue of an
ordinance entitled "A n ordinance providing for
the extension, alteration and enlargement of
the City Hall building In the City of H oboken
and the furnishing and equipment thereof, and
authorizing the Issuance of bonds of said city
In the sum of one hundred and twenty-five thou
sand ($125,000) dollars for such purposes.”
Said bonds to be coupon or registered bonds,
at the option of the bidder, of such denomina
tions not less than one thousand ($1,000) or more
than ten thousand ($10,000) dollars, as the bidder
may elect.
Bids to be addressed to the Mayor and Council
of the City of Hoboken, and endorsed "Proposals
for City Bonds,” and handed to the Clerk of the
Board In open session when called for in tho regu
lar order of business relating to sealed proposals,
and shall be accompanied by a certified check
or cash In the sum of two thousand live hundred
($2,500) dollars.
A ny further information relating to said bonds
can be obtained from the Comptroller at his office
In the City Hall, H oboken, N. J.
The Mayor and Council reserve the right to
reject any or all bids It deemed In tho Interest
of the city so to do.
•
• B y order of the Council.
■
JAMES II, L O N D R IG A N ,
•
• •
City Clerk. •
L. F. DOMMERICH & GO,
NEW YORK
General Offices, 57 Greene Street
S O L IC IT
D IS C O U N T
M E R C A N T IL E
AND
GUARANTEE
ACCOUNTS
TO
NO
GOODS
F IN A N C E
MANILA, SISA L AN D JU TE
SALES
AGENTS
CARRY
THE AMERICAN MFG. CO.
FOR
OW N
AND
C O R D A G E
OTHERS
ACCOUNT
65
E s ta b lis h e d
ove
60
Y ea rs
W a ll
S tre e t
N ew
Y ork
1719
THE CHRONICLE
J u n e l»4 1911.1
delivered $300,000 July 5 and $200,000 Aug'. 7. They will be certified as July 24. The city Is n ow .rea d y to Issue registered bds. In exchange fo r
to genuineness by the First N at. Bank of Boston, and legality approved by cou p . bids.
Ropes, Gray & Gorham, whose opinion will be furnished to purchaser.
YOUNGSTOWN SCHOOL DISTRICT (P. O. Youngstown), Mahoning
WORCESTER. Worcester County, /Mass.— Temporary Loan.— A ccording C ounty, Ohio.— Bond Bale.— On June 19 the $69,000 \ )4 % 27-yr. (av.)
cou p. bds. (V. 92, p. 1589) were awarded to the New First N at. Bank in
to reports, a loan of S100.000 due O ct. 17 1911 has been negotiated with
Col. for $74,361 (107.769) & Int.— a basis c f >bnut 4 .0 8 4 % . Other bids
Kissel, Kinnlcutt & Co. of New York at 3.125% discount $50.1
■.
WYANDOT COUNTY (P. O. Upper Sandusky), Ohio.— Bond Offering.— follow :
Proposals will be received until 12 tn. July 5 by I’ . Frank Jr., Treas., for Otis & H ough, Cleveland___ $74,3501First N at. B k ., C le v e la n d .$74,187.80
YOUNGSVILLE TOWNSHIP (P. O. Youngsville), Franklin County,
$3,500 5% road bds. Denom . $700. Date June 1 1011. Int. J .& D .
at the Treas. office. Due $700 yrly. Deo. 1 1912 to 1910 incl. Bonds to be No. Caro.— Bonds Awarded in Part.— Of the $25,000 5% 30-yr. reg. road
delivered within 5 days from date of sale. Cert, check tor $500, payable bds. declared valid b y the State Supreme Court on M ay 31 (V . 91, p. 1653)
$15,000 have been disposed of.
to the Treas., required.
YAKIMA COUNTY SCHOOL DISTRICT NO. 10, W a sh — Bond Offering.
— Proposals will be received until 10:30 a. m . to-day (June 24) by F. Bond,
Canada, its Provinces and M unicipalities.
County Treas. (P . O. No. Yakim a), for $5,000 cou p. bldg. bds. at not ex
ALTONA, Ont.— Debenture Sale.— It Is stated that Levi Grove o f A ltona
ceeding 6% Int. Auth. Sec. 117, 118, 119, & c.. Code of Public Instruction
has
been awarded $3,000 5 /O 10—
y r . s ch . debentures*
Daws of 1897, pages 357 et. scq ., also election held May 20 1911. Date
B A R R IE , Ont.— Debenture Sale.— On June 16 the S I,000 5% 10-yr. hos
“ day of Issue” or may be dated on first of some month at the option of bid
pital, $5,700 4 H % 10-yr. sewer and $4,300 4 ^ % 30-yr. sewer debentures
der. Int. seml-ann. at the Treas. office. Due 20 yrs., op t. after 5 yrs.
(V. 92, p. 1589) were awarded to W ood , Gundy & Co. o f T oron to for $10,
Total debt at present, $13,433 28. Assessed & equal, val. 1910, $439,430.
(99.01) & int. Other bids follow:
YAKIMA COUNTY SCHOOL DISTRICT NO. 28, W a sh —Bond Offering. 892
Brent, N oxon & C o., Toronto$10,857|Canadian Deb. C orp.,L td.,T o$10,774
— Proposals will be received until 10 a. m. to-day (June 24) by F. Bond,
Dom inion Sec. C orp., L td .,T o 10,826 IC. II. Burgess & C o., T o r____10,670
County Treas. (P . O. No. Yakim a), for $8,000 coup. bldg, bonds at not ex
Campbell, T hom pson & C o.,T o 10,822 R . C. M atthews&Co., T o r ___10.624
ceeding 6% Int. A uth. Sec. 117, 118, 119, &c., Code of Public Instruction
Laws of 1897, pages 357 et. seq., also election held May 25 1911. Date Geo. A . Stlmson & C o., T o r ..l0 ,8 0 9 | W . A . M acKenzie & T o r____ 10,624
BATTLEFORD, Sask.— Debenture Sale.— Brent, N oxon & Co. o f T oron to,
"d a y of Issue,” or may be dated on the first of some m onth at the option of
bidder. Int. ann. at Treas. office. Due 20 yrs., op t. after one year. It Is reported, were awarded $48,000 5% 45-installment debentures.
Bond. dt. at present, $3,500. Assess. & equal, val. In 1910, $1,056,390.
COBALT, Ont.— Debenture Offering.— Proposals will be received until
YAKIMA COUNTY SCHOOL DISTRICT NO. 49, W a s h — Bond Offering. July 1, it Is stated, for $43,500 6% 10-yr. water-works and sewer debentures.
— Proposals will be received until 10 a. m. July 8 b y F. Bond, County Treas.
DEFIANCE SCHOOL DISTRICT NO. 2612 (P . 0 . D upuis), Sask.— De
(P. O. N o. Yakim a), for $13,000 cou p. bldg, and site bds. at not exceeding benture Sale.— Nay & James of Regina were recently awarded an Issue o f
6% Int. A uth. Sec. 117, 118, 119, & c., Code of Pub. Instruc., Laws of $1,500 6 )4 % bldg, debentures for $1,503 10— the price thus being
1897, pages 357 et scq ., also election held June 2. Date “ day of Issue,”
100.2066. Date A pr. 1 1911. Int. A pril. Due 10 annual payments
or m ay be dated on the first of some month, at the option of bidder. Int.
beginning A pr. 1 1912.
ann. at the Treas. office. Due 20 yrs., op t. after one year. Total debt at
ELORA, Ont.— Debenture Offering.— Proposals will be received until
present, $41,095 49. Assess. & equal, val. for 1910, $1,815,720.
12 m . June 29 b y II. Clarke, Treas., for $3,500 4 1-2% debentures. Date
YOUNGSTOWN, Ohio.— Bond Offering.— Proposals will be received .A u g . 1 1911. Due In 10 annual Installments of prln. & Int. beg. D ec.l 1912.
until 2 p. m. July 17 by W m . I. Davies, City A uditor, for the following
ESTEVAN, Sask.— Debentures Voted.— Papers state that In addition to
5% bds.:
the $18,000 sidewalk debentures being voted on June 2 (V . 92, p. 1589),
$1,800 Dim St. sewer. Due $1,000 O ct. 1 1913 and $800 In 1914.
by-laws providing for $10,000 sewer and $5,000 water debentures also
1,600 Fairmont A v c. and Eric St. widening. Due O ct. 1 1913.
carried.
1,200 Blssell A v c. opening and widening. Due O ct. 1 1913.
F A IR Y D E L L SCHOOL DISTRICT NO. 2346 (P. O. FairydcII), Alta —
10,095 Broaden St. paving. Due $2,019 O ct. 1 1912 to 1916 lncl.
Debenture Sale.— On April 1 an Issue of $800 5 )4 % bldg, debentures was
11,770 Market St. repaving. Due $2,354 O ct. 1 1912 to 1916 Incl.
awarded to the Alberta School Supply Co. at 100.45. D enom . $80. Date
460 Edwards St. grading. Due $92 O ct. 1 1012 to 1916 incl.
April 21 1911. Int. A pr. Due April 21 1921.
2,210 Vernon St. paving. Due $442 O ct. 1 1912 to 1916 Incl.
GALT Ont.— Debenture Offering.— Proposals will be received until 12 m .
710 Florist St. sewer. Due $142 O ct. 1 1912 to 1916 Incl.
June 30 by A . M . Edwards, Chair. Finance Committee, for the $25,000 4
1,620 Edwards St. sewer. Due $324 O ct. 1 1912 to 1916 incl.
electric-power-plant debentures repayable June 5 1931 (V . 92, p. 1661).
21,410 Oak St. paving. Due $4,282 O ct. 1 1912 to 1916 Incl.
Denom. $1,000. Int. J. & D . at the Treas. office or Merchants Bank o f
835 South Champion St. paving. Due $167 O ct. 1 1912 to 1916 Incl.
Canada In Galt.
1,455 North Phelps St. repaving. Due $291 O ct. 1 1912 to 1916 Incl.
HAMILTON, Ont.— Loan Election Proposed.— W e see It stated that the
2,865 Grace St. paving. Due $573 O ct. 1 1912 to 1916 Incl.
Board of Control has recom m ended to the Council that an election be held
3,030 Werner St. paving. Due $606 O ct. 1 1912 to 1916 Incl.
July
25 to vote on a by-law to raise $505,160 for a power and light plant.
10,430 JefTcrson St. paving. Due $2,086 O ct. 1 1912 to 1916 Incl.
3,275 Sidewalk. Due $655 O ct. 1 1912 to 1916 Incl.
• HUMBOLDT. Sask.— Debentures Voted and Sold.— 1T he election held
Dated July 24 1911. Int. A . &, O. at City Treas. office. Separate bids June 12 resulted In favor of the question of Issuing the $2,500 park-lm pt.
to be made for each Issue. Cert, national bank check for 2% of bonds bid debentures (V . 92, p. 1589). The vote was 52 to 2. W e are advised that
for required. Purchaser must be prepared to take the bds. not later than these debentures have been sold.
NEW LOANS.
C IT Y
OF
TRENTON
$63,200 STREET PA V IN G BONDS
$45,000 P A R K BONDS
Trenton, N. J ., June 10th, 1911.
Sealed proposals will be received at this office
until 2 o ’clock p. m., M onday, June 26th, 1911,
for the purchase of the whole o f $63,200 o f City of
Trenton, N. J ., ten-year four per cent semi-annual
registered or coupon Street Paving Bonds.
Also for the purchase of the whole of $45,000
City of Trenton, N. J ., thirty-year four per cent
semi-annual registered or coupon Park Bonds.
Bonds will be dated July 1st. 1911, Street
Paving Bonds due July 1st, 1921. Park Bon s
due July 1 t, 1941, Issued In denominations of
$100 or multiples thereof, and will not be sold
for less than par and accrued Interest.
Each bidder will be required to bid on each Issue
separately, and to enclose as evidence of good
faith, certified checks on a National Bank, pay
able to the order of Harry E. Evans, City Treas
urer, as follows:
For the Issue of $63,200 Street Paving Bonds
a check for $1,200.
For the Issue of $45,000 Park Bonds a check for
$1,000. (Separate Checks.)
Checks will be Immediately returned to un
successful bidders.
The bonds will be awarded to the blddcrs vvhosc
proposal will be most favorable to the city, but
the right is reserved to reject any or all bids not
deemed for the Interest of the city.
Proposals to be scaled anil addressed to
II. E. E VA N S,
City Treasurer.
M U N I C I P A L A N D R A IL R O A D
BONDS
LIST ON APPLICATION
S E A S 0N G 00D & M AYER
Mercantile Library Building
CINCINNATI
NEW LOANS
NEW LOANS.
$ 2 0 8 ,0 0 0 .0 0
$ 3 0 ,0 0 0
BEXAR
COUNTY,
BONDS
4 K % Court House Refunding Bonds
Sealed bids will be received b y the undersigned
(County Scat, San Antonio.)
up to 12 o ’clock noon, JUNE 30, 1911, for the
purchase of $30,000 County Building Bonds to be
Sealed bids will be received by the undersigned Issued by the County of Putnam, New York.
until 12 o ’clock noon, MONDAY, JUNE 26TH,
Bonds will be payable $2,000 on the first day
1911, for the purchase of $208,000 i 'A % Coupon of August In each year from 1917 to 1931, both
Refunding Bonds of the denomination of $1,000 Inclusive,and win bear Interest at four and oneeach, dated July 1st, 1911, maturing July 1st, quarter per cent, payable semi-annually on the
1951, redeemable at the pleasure of Bexar County Ilrst days of February and August.
at any time after ten years from their date.
Principal and Interest payabie at the office o f
Interest payable semi-annually, on the tenth day the County Treasurer or at the First National
of April and the tenth day of October o f each year. Bank, Brewster, N. Y .
These bonds will have the written approval of
All bids must be accom panied b y a certified
the Attorney-General of the State of Texas, and check for two per cent of the total amount of the
their legality will be passed upon also by Messrs. Issue.
Dillon, Thom son & Clay, of New York City, and
The right Is reserved to reject any and all bids.
a cop y of their opinion will be furnished to the
Bonds will be delivered on August 1, 1911.
successful bidder, and they will be registered In
E D W A R D 1). S T A N N A R D ,
the office o f the State Comptroller of Texas.
County Treasurer of Putnam County.
They will be engraved under the supervision of
Brewster, N . Y ., June 13, 1911.
and certified as to their genuineness by the
United States Mortgage & Trust Company,
55 Cedar Street, New York, N . Y .
A certified check for two per cent of the amount
of the par value of the bonds bid for must accom
pany each bid, same to be returned to unsuccessful
bidders.
No bids will be received for less than the par
value and accrued Interest of the bonds bid for.
A U C T IO N E E R S .
The right to reject any or all bids Is hereby
reserved.
The bonds will be delivered to the purchaser
R e g u la r W e e k ly S a le s
or purchasers on or before July 20th, 1911.
Bexar County lias never defaulted In payment
OF
of obligations.
A ny Information relative to said bonds will be
furnished by Frank It. Newton, County Clerk,
San A ntonio, Texas.
P. II. SH O O K , County Judge,
Bexar County, Texas.
EVERY WEDNESDAY
Adrian H. Muller & Son,
STOCKS and BONDS
BLODGET & CO.
Thomas J. Bolger Co.
Putnam County, New York,
Office, No. 55 W IL L IA M STREET.
Corner Pine Street.
BONDS
ESTABLISHED 1830
60 S T A T E S T R E E T , B O S T O N
M U N IC IP A L
BONDS
90 P I N E S T R E E T , N E W Y O R K
Legal for Savings Banks,
Poital Savings and Trust Funds
STATE, C ITY *
R A IL R O A D BONDS
C h a r le s
M.
S m ith
CHICAGO
&
C o.
CORPORATION AND
MUNICIPAL BONDS
FIR ST N ATIO N A L B A N K B U ILD IN G
CHICAGO
&
SONS
CO.
First Nat. Bank Bldg., Chicago
SCHOOL,
COUNTY A N D M U N IC IP A L BONDS
SEND FOR LIST
19 South La Salle S t.,
H. C. SPEER
H 0D E N P Y L, HARDY & CO.
7 W a ll S t . ,
N aw Y o r k
Railroad, Street R y ., Gas & Elec. Light
S E C U R IT IE S
F.
W M .
K R A F T
LAWYER
Specializing in Examination of
Municipal and Corporation Bondi
1312 FIRST NATIONAL BANK BLDG.;
CHICAGO, IL L .
1720
THE CHRONICLE
JANSEN. Sask.— Debenture Sale.— Nay & James o f Regina were awarded
$1,000 0% 10-y r. debentures, according to reports.
KERRISDALE, 15. C,— Loan Election.— It Is stated that a by-law for
$40,000 for school purposes will be voted upon at an early date.
KILDRUM SCHOOL DISTRICT NO. 2695 (P. O. Bruno), Sask— Deben
ture Sale.— An Issue of $1,200 5 51% bldg, debentures was awarded to the
A lberta School Supply Co. at par. Date May 15 1911. Int. ann
Due N ov. 15 1921.
KIPLING, Sask.— Debenture Sale.— Reports state that $7,000 6% 15-yr.
debentures have been awarded to Nay & James o f Regina.
LACOIYIBE, Alberta.— Loan Election.— A n election will be held shortly.
It Is stated, to borrow $20,000 for a water-works system .
• LINDSAY, Ont.— Debenture Sale.— The Ontario Securities C o., L td ., of
T oron to, has been awarded. It Is stated, $47,200 4
debentures, due part
In 10 anuaal Installments and part in 20 annual Installments.
MURNEY SCHOOL DISTRICT NO. 2599 (P. O. Semans), Sask.— Debenbenture Sale.— On May 18 $1,500 6% bldg, debentures were awarded to the
National Finance C o., L td ., of Regina, for $1,516 75— making the price
101.1176. Date June 8 1911. Int. N ov. 1. Due N ov. 1 1921.
NEW WESTMINSTER. B. C .— Loan Election.— A by-law providing for
a loan o f $10,500 for school purposes will be submitted to a vote, it Is stated,
In the near future.
NORTH TORONTO, Ont.— Debenture Offering.— Proposals will be re
ceived until 12 m. June 26 by I ly . E . Stevenson, Treas., for the following
4 f i % cou p, debentures.
$20,000 00 20-yr. light-imp. debentures.
5.000 00 30-yr. sch.-lm p. debentures.
3,638 45 20-yr. concrete side-walk debentures.
2,745 67 30-yr. water-main debentures.
1,941 00 10-yr. gravel side-walk debentures.
In t. semi-annually and a portion o f principal yearly at the Bank of
Montreal In North T oronto.
ONTARIO.— Stock Sold in London.— Of the $5,500,000 Ontario Govern
ment 4% stock authorized by the Legislature at the last session, $2,500,000
(£500,000) was Issued In London recently by the Bank of Montreal at 101.
The loan Is due In 1947.
PENTICTON. B. C.— Debenture Offering.— Proposals will be received
until 6 p. m . July 14 by E d. Connell, Treas., for the following 5% debens.
$25,000 20-yr. Kettle R iver Valley railroad-aid debentures.
2.500 10-yr. flre-protectlon debentures.
2,800 10-yr. m unlclpal-bldg. debentures.
2.500 10-yr. park-purchase debentures.
1.500 10-yr. park-improvem ent debentures.
8.000 20-yr. granolithic sidewalk debentures.
2.000 5-yr. plank-sidewalk debentures.
3.000 5-yr. plank-sidewalk debentures.
Date June 1 1911. In t. J. & D.
RURAL MUNICIPALITY OF HURON NO. 223 (P. O. Eyebrow), Sask,—
Debenture Offering.— Proposals will be received until June 25 by J. A .
Baldry, Sec.-Treas., for $15,000 6% debentures, due In 20 ann. installments.
RURAL MUNICIPALITY OF MEOTA, S a s k — Debenture Offering.—
Proposals will be received until to-day (June 24) by F . VV. T ob ey, Sec.T reas., for $7,000 5% debentures, payable In 10 annual installments.
RURAL MUNICIPALITY OF WOOD CREEK NO. 281 (P. O. Simpson),
Sask.— Debenture Offering.— Proposals will be received until 12 m . July 8
b y J. W . Bowley, Sec.-Treas., for $6,000 5
road debentures, payable
at the Union Bank o f Canada In Simpson In 20 annual Install, o f prln. & Int.
$ 160,000
C IT Y
OF
S T . A L B E R T , A l b e r t a . — Debenture Sale.— Nay & James of Regina have
been awarded. It Is stated, $5,000 5% 30-Installment debentures.
S T . B O N I F A C E , M A N . — Debenture Offering.— Proposals will be received
until 5 p. m . July 3 by J. B . Cote, City Clerk, for the following 5% cou p,
local-im p. debentures.
*$36,000 00 7-yr. debentures.
$1,416 70 20-yr. debentures.
1,201 71 7-yr. debentures.
1,021 62 20-yr. debentures.
1,044 05 7-yr. debentures.
*15,000 00 30-yr. debentures.
*362,000 00 20-yr. debentures.
1,487 34 30-yr. debentures.
1,444 69 20-yr. debentures.
1,052 93 30-yr. debentures.
D enom . *$1,000. Date July 3 1911. Int. J. & J. at Banque d ’ iloch elaga, Montreal, St. Boniface or W innipeg; Canadian Bank of Com .,
T oron to, or Clydesdale Bank, L td ., London. Purchaser to pay accrued int.
ST. AlARY’ S, Ont.— Debentures Voted.— The election held June 10 re
sulted in a vote o f 94 " fo r ” to 70 "against” the proposition to issue the $5,000
4 Vi % 20-yr. bridge debentures (V . 92, p. 1591). We are advised that these
debentures will be offered for sale within six weeks.
SHAWENEGAN, Que.— Debenture Sale.— The Dominion Bond C o., L td .,
of Toronto has been awarded $15,000 debentures, according to reports.
SHEHO, Sask.— Debenture Offering.— Proposals will be received until
12 m. June 30 b y F . R . W hite, Sec.-T reas., for $2,000 6% debentures.
Due part yearly for 15 years, beginning O ct. 1 1912.
SNOWFLAKE SCHOOL DISTRICT No. 1111 (P. (). Snowflake). Man.—
Debentures Voted.— The election held June 10 resulted In a vote of 54 to 2
In favor of the proposition to Issue the $8,000 6% bldg, debentures. (V . 92’
p. 1591.)
SOUTHAMPTON, Ont.— Debenture Offering.— Proposals will be received
until 4 p. m. July 1 for the $7,500 5% cou p, water-works debentures
(V . 92, p. 1591). Due part yearly for 30 yrs. J. C. Eckford Is Clerk.
SPRUCE CREEK SCHOOL DISTRICT NO. 723 (P. O. Spruce Creek),
man.— Debenture Sale.— On June 1 the $2,000 6% 20-installment bldg.
Y', ®2, p. 1457) were awarded to J. G. Mackintosh of W innipeg
at 103.40 and Int. Date June 1 1911. Int. ann. The bids follow:
J. G. Mackintosh, W in n ...$ 2 ,0 6 8 00 Allow ay& Cham plon,W inn.$2,032 00
C. II. Burgess & C o., T o r . . 2,052 00 Brent, N oxon & C o., T o r . . 2,027 00
W ood , Gundy & C o., T o r . . 2,043 00 Can. Deb. Corp., L td ., T o r . 2,007 00
N ay & James, R egina_____ 2,032 60 W . A . Mackenzie & C o.,T or. 2,007 00
T H A M E S V I L L E , O n t . — Debentures Voted.— The proposition to Issue the
$3,5 00 town-hall debentures (V . 92, p. 1591) was favorably voted upon
June 12.
V I R D E N , M a n . — Debenture Offering.— Further details arc at hand relatlve to the offering on July 6 of the $25,000 5% gold coup. bldg, debentures
Y,1,0 62 )- Proposals will be received until 12 m . on that day by
J. F . C . M enlovc, Sec.-Trcas. Date July 2 1911. Int. July 2 at the
Canadian Bank o f Commerce In Virden. Due In 20 ann. Installments of
PrlttNo deposit required.
Debenture debt, not lncl. this
Issue, $2o,320. Floating debt, $3,500. Assess, vai. 1911, $750,700.
O n t . — Debentures Voted.— An election held recently
resulted In favor of a proposition to Issue $79,000 strcct-lm pt. debentures,
It is stated.
1
W A L L A C E S C H O O L D I S T R I C T , A la n . — Debenture Election.— An elec
tion will be held June 26, It Is stated, to vote on a by-law to Issue $3,000
6% 20-yr. debentures.
W E N T W O R T H C O U N T Y ( P . O . H a m i l t o n ) , O n t . — Debenture Sale.— The
Ontario Securities C o., L td ., o f T oronto, were awarded, reports state,
$26,000 4>$% 20-lnstallmeDt House of Refuge debentures.
BOND CALL.
NEW LOANS.
N O T IC E
R O M E , N . Y .,
WATER BONDS
• Under authority of the Comm on Council of the
City o f R om e, sealed proposals will be received by
the undersigned until eleven o ’clock a. m. of
Thursday, July 6, 1911, at the office of the City
Clerk o f the City of Rome. N. Y., for the purchase
o f W ater Bonds of the City of R om e, as follows:
One hundred and sixty thousand dollars ($160,
000) of Bonds at one thousand dollars ($1,000)
each. Said bonds are issued to refund a water
d ebt of the same amount about to become due.
T hey are Issued In accordance with the General
Municipal Law and the Charter of the City of
R om e, being Chapter 650 of the Laws of 1904.
Said bonds are registered and run for twenty (20)
years. The rate of Interest Is four per cent per
annum, payable January first and July first each
year. Principal and Interest are payable at the
National Park Bank, New York, N. Y . The
bonds will be dated July 1, 1911. The proceeds
o f said bonds are to be used for the refunding of
the water debt above m entioned. The bonds,
under the law, cannot be sold for less than par.
Successful bidders will be required to pay accrued
Interest from the date of bonds to the date of
delivery o f same.
■ A L B E R T L . MAC M A S T E R , City Clerk.
OF
R E D E M P T IO N
ACCOUNTANTS.
OF
BOND S.
P o w e ll C o u n ty , M o n ta n a
Central 3080.
T W. STEPHENS & CO L Y B R A N D ,
a W ALL STREET, NEW TORE.
Dallas County, Alabama,
IN V E S T M E N T
ROAD BONDS
Sealed bids will be received until eleven o ’clock
a. m. AlONDAY, JULY 3, 1911, for $150,000 of
the good-road bonds of Dallas County, Alabama;
said bonds run for thirty years from July 1, 1910;
bear 5% Interest, payable semi-annually, July 1
and January 1, In New Y ork. Said bonds will be
o f the denomination of $500; coupons on said
bonds to July 1, 1911, will be clipped from said
bonds. The right to reject any and all bids Is
reserved.
......................
P . II . P IT T S , Probate Judge,
Selma, Alabam a.
MUNICIPAL BONDS
lAfeit Investment
known. Yielding from
4 %
U L E N
to 6 %
&
Write for
Circular.
CO.
CHICAGO
BANKERS
Bank and Trust Company Stocks
BONDS
Interest allowed on accounts of
Individuals and Corporations
N A T IO N A L
L IG H T ,
HEAT & POW ER CO M PAN Y
GUARANTEED
Af, ,
BONDS
A. H. Bickmore & Co.,
BANKERS
JO P in a S t r e e t ,
N ew Y o r k
BOUGH T A N D SOLD
C L I N T O N
G I L B E R T
2 W A L L ST ., N E W YO R K .
ROSS BROS &
M ONTG OM ERY
C e r t ifie d P u b llo A c o o u n t a n t a
(Pennsyl vanla)
NEW YORK,
55 Liberty St
PHILADELPHIA,
Land Title Bldg.
P IT T S B U R G H ,
Union Bank Bldg.
CHICAGO, First National Bank Bldg.
JA M E S PA R K & CO.
CERTIFIED PUBLIC ACCOUNTANTS
New York, Chicago, Cincinnati and
London, England.
AUDITORS
FOR
FINANCIAL IN S T IT U
TIONS, INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial Statements,
Periodical Audits and Aooount'mg
WE BUY
E n tir e T r a c t i o n P r o p e r t ie s In
P E N N S Y L V A N IA
N EW YO R K AND BROOKLYN
•
H A S K IN S & S E L L S
CERTIFIED PUBLIC ACCOUNTANTS
The Board o f County Commissioners o f Powell
30 Broad Street, New York
■ County, Montana, to All Whom This Notice
M ay Concern, G R E E T IN G :
London, E . C ., 30 Coleman Street.
N otice Is hereby given that the Treasurer of
CHICAGO
C L E V E LAN D
Powell County, Montana, will upon July 1st,
W illiamson Building
1911, redeem all bonds numbered from one (1) Harris Trust Building
to thirty-two (32), Inclusive, o f the bond Issue
ST. LOUIS
o f said County o f July l3t, 1901. All holders
Third National Bank Building
or owners o f any of the aforesaid bonds are
P IT T S B U R G H
B A L T IM O R E
required to present the same to the Treasurer
E quitable Building
o f said County upon July 1st, 1911, at his office Farmers’ Bank Building
at Deer Lodge, In said County, for paym ent.
Upon presentation of the said bonds to the said A N N O U N C E T H E R E M O V A L O F
County Treasurer upon said day the same will be
THEIR CHICAGO OFFICE
redeemed and paid In full with Interest due
thereon up to that date, but such bonds shall not
TO THE
draw Interest on or after that date, and all owners
or holders o f said bonds, or any thereof, are
HARRIS TRUST BUILDING
hereby notified that interest upon tho same will
111 WEST MONROE STREET
cease upon tho date aforesaid.
A L B E R T B IE N ,
SUITE 1117-1120
County Treasurer,
Powell County, Montana.
Telephone Number Unchanged—
Dated May 19th, 1911.
BANKERS
$ 150,000
(V O L . L X X X X I I .
R . T . W ils o n
&
S3 W A L L STREET
N E W YO R K
C o.
G e o rg e B . A t le e & C o .
BANKERS
119 S. Fourth St.
Philadelphia
@FedFRASER