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INCLUDING
Bank and Quotation Section (Monthly)
Railway and Industrial Section(Quarterly)
State and City Section(Semi-Annually)
Electric Railway Section(Thi.-LTli;nes)
NO. 2244.
SATURDAY, JUNE 27 1908.
VOL. 86.
Week ending June 20.
rte Thranicte•
Clearings at
1908.
PUBLISHED WEEKLY.
1907.
Inc. or
Dec.
$
s
%
Chicago
219,923,073 242,282,640 -9.2
$10 00
Cincinnati
23,717,050
26,499,850 -10.5
For One Year
6 00
Cleveland
19,445,996 -25.7
14,439,793
For Six Months
1)etrolt
13 00
15,341,853 -16.8
12,771,474
European Subscription (including postage)
Milwaukee
9,462,907
10,509,922 -10.0
7 50
European Subscription six months(including postage)
Indianapolis
8,429,164
8,574,614 -1.7
22 14s.
Annual Subscription in London (including postage)
5,116,900
6,008,900 -14.8
21 its. Columbus
Six Months Subscription in London (including postage)
3,379,185
Toledo
4,416,585 -23.5
80
$11
Canadian Subscription (including postage)
Peoria
2,192,693
2,587,658 -15.3
_
-13.3
2,179,264
Grand
Rapids__
2,514,480
Subscription includes following Supplements2,014,021 -17.3
1,665,357
Dayton
STAtE AND CITY (semi-annually)
1,915,089 -16.6
1,597,863
Evansville
11‘NK AND QUOTATION (monthly)
982,594 +0.04
982,976
RAILWAY AND INDUSTRIAL(quarterly) I ELECTRIQ RAILWAY(3 times yearly) Kalamazoo
855,000 -18.1
700,000
Akron
811,215 -5.7
765,483
Fort Wayne _
Terms of Advertising-Per Inch Space
778,722 +5.5
822,296
_-....
III
•
$4 20 Springfield,
Transient matter per inch space(14 agate lines)
696,576 -20.5
553,946
Rockford (S times)
22 00 Canton
Two Months
661,540 -33.1
442,622
MonthsMonths (13 times)
29 00 South Bend
Three
621,124 -16.0
521,733
Standing Business Cards
(26 times)
50 00 Lexington
Six
592,932 -14.2
508,880
87 00 Youngstown
589,224 +19.2
702,441
Twelve Months(52 times)
+3.8
431,482
447,691
Oino
Springfield,
CHICAGO OFFICE-P.Bartlett,513 Monadnock Block; Tel. Harrison 4012. Mansfield
414,518 -7.8
382,295
LONDON OFFICE-Edwards 85 Smith,1 Drapers' Gardens, E. C.
405,909 +19.8
486,311
Bloomington_ _ _.
403,460 -0.5
Quincy
401,899
WILLIAM B. DANA COMPANY, Publishers,
347,711 +79.9
625,502
Decatur
247,500 +5.1
Jackson
200,000
P.O.Box 058. Front. Pluto and Depeyster Sts., Now York.
219,589 +4.4
229,307
Jacksonville, Ill_
148,870 -9.9
134,175
Ann Arbor
Published every Saturday mommy by WILLIAM B.DANA COMPANY. Adrian
20,000 +0.8
20,164
William B. Dana,President; Jacob Seibert Jr., Vice-Pres. and See.; Arnold Danville
294,076 Not included In total
G. Dana,Treas. Addresses of all,Office of the Company.
Tot. Mid.West. 313,862,444 351,339,574 -10.7
40,362,120 -22.6
San Francisco_ _ 31,229,969
CLEARING-HOUSE RETURNS.
11,383,426 -16.3
Los Angeles
9,530,732
11,235,160 -35.1
7,295,902
Seattle
indicates
table,
dm.,
made
up
by
telegraph,
7,434,929 -27.0
Portland
The following
5,426,563
6,742,923 -27.7
Salt
City
Lake
4,875,810
that the total bank clearings of all clearing houses of the U. S. MIT
6,459,447 -10.4
:
5,790,566
5,110,900 -23.0
3,933,797
for week end.June 27 have been $2,080,540695,against $2,- Oakland
2,497,823 -47.2
1,320,141
847,788 -21.9
Helena
661,784
190,113,827 last week and $2,575,978,643 the week last year. Fargo
578,777 -6.5
541,013
467,939 -16.9
388,791
San Jose
Sioux Falls
525,000
470,000 +11.7
1907.
%
1908.
Clearings by Telegraph-Week end.J'ne 27
Sacramento
833,316 Not included in total
681,000 Not included in total
$972,708,789 11,165,382.789 -16.8 Stockton
New York
675,000 Not included in total
114,481,735 -16.4 San Diego
95,708,290
Boston
'Not Included in total
28.4 FresnoYakima _
119,254,270
85,450,739
Philadelphia
Not included in total
North
23,871,524 -31.6 Billings
16,322,411
Baltimore
Not included in total
203,464,030 -13.6
175,717,883
Chicago
44,210,932
-13.8
51,311,711
Louis
St.
93,591,232 -23.6
71,520,068
Total Pacific__
11,422,798
13,208,158 -13.5 Kansas City ____
New Orleans
28,837,600 -17.3
23,846,753
20,491,676 -24.0
15,564,088
Minneapolis
$1,401,541,842
$1,690,974,217
17.1
Seven cities, 5 days
11,604,401 -4.2
11,122,262
Omaha
13.1 St. Paul
335,000,211
385,419.268
9,035,220 -11.5
Other cities, 5 days
7,993,778
8,575,578 -0.3
8,600,000
Denver
-16.4
$1.736,542,053
5,487,954 -1.1
$2,076,393,485
5,427,492
St. Joseph
Total all cities,5 days
2,783,275 +7.3
343,998,642
499,585,158 -31.1 Des Moines
2,986,785
All cities, 1 day
2,283,351 -9.5
2,065,999
Sioux City
1,375,228 +2.5
1,409,550
$2,080,540,695 $2,575,978,643 -19.2 Wichita
Total all cities for week
1,100,168 +3.5
Lincoln
1,138,945
1,030,870 +1.9
Topeka
1,050,478
794,258 -2.9
Davenport
771,064
The full details for the week covered by the above will be Colorado
Springs
532,954 +22.0
650,205
Rapids_ _ _
519,608 +42.4
740,136
given next Saturday. We cannot furnish them to-day, Cedar
461,649 -10.9
Pueblo
411,459
277,517 -29.7
195,006
clearings being made up by the clearing houses at noon on Fremont
Terms of Subscription-Payable in Advance
Week ending June 20.
Clearings at
Inc. or
1908.
1906.
1907.
1,247130,630 1,441129,800
New York
Philadelphia _ _ 108,010,030 142,357,833
53,627,575
37,208,740
Pittsburgh
28,539,050
22,610,329
Baltimore
7,894,188
7,697,743
Buffalo
7,406,477
5,658,189
Albany
5,896,354
5,103,163
Washington _ _ _ _
3,181,144
3,024,249
Rochester
2,212,599
2,168,135
Scranton
2,217,131
1,814,482
Syracuse
1,429,609
1,161,051
Reading
1,495,237
1,419,463
Wilmington
1,250,188
1,082,101
Wllkes-Barre _ _
1,084,037
1,118,770
Harrisburg
998,677
1,416,587
Wheeling
822,726
594,720
Erie
554,713
440,350
Chester
505,900
451,200
Binghamton ___ _
471,802
523,873
Greensburg
298,634
265,000
Franklin
1,177,759 Not Included
Trenton
824,076 Not included
York
included
462,868
Not
Altoona
1905.
-13.5 1,706,633,748 1,375180,387
-24.1 149,962,783 125,487,114
49,386,122
52,721,322
-36.5
26,784,399
20,740,526
-20.8
6,031,997
-2.5
7,013,138
4,058,064
-23.6
5,558,507
5,499,188
5,194,868
-13.5
-4.9
3,447,510
3,292,685
-2.0
1,736,782
1,886,289
-18.2
1,382,563
1,606,103
-18.7
1,145,645
1,244,340
972,402
-5 1
1,319,778
-13.4
1,068,405
1,010,126
+3.1
1,021,794
+41.8
725,960
966,297
-27.7
445,652
630,235
-20.6
483,243
534,557
524,900
-10.8
481,400
+11.0
645,245
533,121
-11.3
213,016
266,937
n total
n total
n total
Total Middle.. 1,449,298,823 1,708,874,574 -15.2 1,969,223,357 1,509,113,797
121,437,055 141,582,591 -14.2 142,860,720 147,577,814
6,618,200
6,864,400
7,416,100 -10.4
6,645,600
2,468,126
3,484,077
3,367,186 -10.2
3,022,395
1,930,025
2,245,566
2,513,194 -13.1
2,184,708
1,480,111
1,875,263
1,066,883 -12.4
1,722,870
1,417,204
1,497,416
1,706,188 -12.6
1,491,146
1,510,405
1,691,914
1,654,946 -14.6
1,413,340
773,653
781,549
871,747 +24.1
1,081,146
617,041
593,438
1,020,197
738,653
390,296
1.6
422,247
471,852
464,246
397,814
513,221
440,859 --13.8
380,164
Boston
Providence
Hartford
Now Haven
Springfield
Worcester
Portland
Fall River
New 13edford _ _
Lowell
Holyoke
Total New Eng.
140,581,413
163,011,743 -13.8
162,830,711
165,189,589
Tot. oth.West.
St. Louts
New Orleans_ _ _ Louisville
Houston
Galveston
Richmond
Atlanta
Memphis
Nashville
Fort Worth
Savannah
Norfolk
Birmingham
Jacksonville
Knoxville
Chattanooga
Mobile
Augusta
Little Rock
Charleston
Oklahoma
Macon
Beaumont
Wilmington,N.C.
Columbus, Ga
Austin
Vicksburg
Jackson, Miss__ _
Total Southern
Total all
Outside N.Y
95,191,307
43,974,000
62,795,157
54,681,769
17,222,448
13,077,566
12,430,885
10,299,255
11,249,214
8,807,282
6,179,500
5,100,000
5,550,000
5,000,000
4,530,461
3,509,782
3,913,546
4,571,591
3,6138,481
2,514,726
3,056,446
4,794,551
2,835,344
2,766,316
2,829,224
1,896,470
2,373,099
1,617,290
1,635,761
11,348,628
1,579,824
1,187,006
1,555,890
1,323,010
1,462,067
1,032,372
1,208,681
1,021,841
1,204,911
1,082,285
1,125,000
938,315
1,680.239
881,062
560,000
477,625
458,501
482,095
390,000
226,242
250,000
240,000
380,074 Not included
288,407 Not Included
370,000 Not included
130,877,079
.ei4t:..t,
ONci..=NM..nv460wiCq6o64,6Nv
4.11332
I
p_sig.
Saturday, and hence in the above the last day of the week has
to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, June 20, for four years.
151,144,679 -13.4
1906.
$
1905.
$
205,128,058
24,789,650
16,252,063
12,932,274
9,144,646
6,623,485
4,683,500
4,175,507
2,088,359
2,170,819
1,773,803
1,522,063
949,578
580,262
944,624
683,396
550,080
525,700
472,049
477,841
666,165
389,166
319,603
335,781
278,176
289,304
225,000
239,213
115,527
186,929,511
25,185,350
13,813,194
10,975,685,
7,486,628
6,133,594
4,110,000
4,031,271
2,416,288
1,887,375
1,656,638
1,243,330
721,460
495,300
933,602
787,581
583,499
423,152
370,687
594,246
522,969
391,274
352,797
384,220
309,305
358,190
218,252
226,761
98,804
299,325,692
30,545,176
10,009,958
8,621,082
4,713,592
5,341,339
3,956,945
3,629,613
3,415,864
650,982
438,869
350,000
347,695
271,640,363
30,999,862
8,818,399
5,885,164
5,081,733
4,266,602
2,814,1)06
3,042,100
841,576
566,629
251,981
4
I
72,021,115
21,203,400
16,342,143
10,032,704
8,173,728
6,155,350
5,589,303
2,542,893
1,897,226
1,143,420
1,403,908
930,863
834,291
603,630
458,150
514,242
264,725
62,569,012
20,487,281
12,719,922
8,574,508
5,784,542
6,216,492
4,517,159
2,643,063
1,634,802
1,125,709
78,089,976
54,429,829
16,715,424
12,482,225
7,720,580
5,115,000
5,474,989
3.788.105
3,402,991
3,091,497
2,533,812
3,042,915
2,176,594
1,858,801
1,223,341
1,359,444
1,314,721
1,440,896
1,213,217
942,862
981,726
800,000
417.024
413,321
350,000
240,000
66,574,769
55,098,442
16,741,734
9,976,346
6,178,215
4,544,500
4,889,862
2,727,192
4,179,767
2,413,794
2,063,584
4,012,140
1,721,891
1,514,600
1,026,843
1,211,163
696,509
1,118,959
1,831,843
986,423
1,060,139
132,629,314
124,969,904
649,217
652,572
460,195
455,488
413,616
240,035
448,283
398,115
220,000
2,190,113,827 2,563,154,109 -14.5 2,714,120,165 2,290,057,434
942,583,197 1,121,523,309 -16.0 1,007,486,417 914,377,047
Canada23,644,502
29,736,506 -10.5
29,999,092
26,618,289
Montreal
19,017,002
-14.9
24,166,686
22,642,073
20,563,677
Toronto
6,046,552
8,770,787
12,399,640 -28.5
8,862,144
Winnipeg
1,877,308
2,529,322
3,853,800 -13.0
3,337,082
Vancouver
2,378,933
2,554,878
3,264,207 -16.5
2,725,800
Ottawa
1,670,747
1,920,103
-13.2
2,281,167
1,980,311
Quebec
1,660,116
1,507,597
1,810,734 -1.1
1,700,883
Halifax
1,206,119
1,432,832
1,734,036 -17.2
1,435,137
'
Hamilton
775,162
_....
1,076,083
1,284,735 -16.2
n__
Joh
Calgary
1,114,759
1,165,436
-8.8
1,205,973
1,100,225
St.
1,032,469
859,663
1,169,815 -7.2
1,085,565
London
1,111,179 -41.6
, 648,671
Edmonton
641,126
594,144
1,035,509 -5.9
' 974,130
Victoria
Total Canada.
,,,
72,107,997
85,035,987 -15.1 '• 74,348,234
60,007,326
_1554
THE CHRONICLE
STREET RAILWAY SECTION.
A new number of our "Street Railway" section,
revised to date, is sent to our subscribers to-day.
The editorial discussions in the same embrace the
following topics: "Effect of State Rate Regulation on
Electric Railways" and "The Delaware & Hudson
Electric Lines."
I.
THE FINANCIAL SITUATION.
The Wall Street market has failed. to respond hopefully to the nomination of the Republican ticket.
Declines in values have, as a rule, been the tendency,
and dulness the accompaniment. Nothing, however,
can be assumed from that fact prejudicial to the success of the ticket, nor encouraging unfavorable conclusions to be reached from those passing conditions.
We are having a hot summer and with that as a ruling
fact securities are apt to be unsteady and fickle.
Moreover, the Democratic Convention is still a matter
of the future, and it is a consideration of great moment
what that party will do. Mr. Bryan claims everything,
both the nomination and platform, as he always has.
Still another matter which has been of more importance is the serious illness of Mr. James B. Sherman.
It so happened that the earliest reports respecting his
condition were serious, causing no little apprehension
as to the outcome, especially when it was announced
that he had been carried to the Lakewood Hospital.
Later, the sickness has appeared of very much less
importance, indeed a speedy recovery being the present expectation. Thursday the weather being quite
perceptibly cooler, and several important industrial
and banking concerns having announced arrangements
completed for business resumption, a better tone to
the market was noticeable. Indeed the Brooklyn Bank,
Fulton and Clinton streets, which closed its doors
during the money stringency last October, re-opened
for business this week, and withdrawals were free; but
the deposits were larger than the withdrawals.
Mr. Taft, released from his political work, has found
sport and merriment during his first few days of
freedom, heading the parade and making speeches at
the Yale alumni gathering at New Haven, especially in
helping, as his presence must in some measure have
done, to lead the way to the defeat of the Harvard
baseball team. Tuesday opened with a rainstorm, an
entertainment that the weather man kept up with
no little persistence from time to time during the day.
Mr. Taft was all the morning attending a meeting of
the Yale corporation and other indoor duties; thereafter, having discarded his sober-looking gown that
had enveloped him all the morning, he trudged
through the mud with a zest few equaled but none
surpassed. We note this situation, not that it has
any significance except that from this kindly, jolly
disposition which Mr. Taft possesses in an eminent
degree, many seem to be drawing much of faith in
his coming administration; that he is to be "hail fellow
well met" with everybody and similarly encourage
everybody's business interests. It is a momentous
question—Are we going back to the good old days
when each one looked upon his fellow-man as at
least as ho nest as himself or back to the era of
,`Our Policies," good or bad, made by our Chief
Executive the standard for everybody's conduct?
[VOL. Lxxxvi.
It is noteworthy that the gain in cash reported
by the Reichsbank this week amounted to the almost
unprecedented sum of £2,391,000, of which about
1 4-5 millions was gold, probably largely imported
from America. This accretion carries the German
Bank's stock of this metal to the highest point in
recent years and the President of the Reichsbank
can confidently claim that this result has been obtained through his policy of attracting gold from
abroad by means of the device of interest-free
advances on the metal while it was in transit. Moreover, this result of the President's policy seems to
answer the criticism of the Bank's management
which has been made—and that largely influenced
the Government in appointing the Banking Commission to which we have several times referred.
Furthermore, this indicates that the Bank's policy
is entirely effective, at least in measure, for the
reinforcement of its gold reserve.
A very large increase in the German Bank cash
holdings seems satisfactorily to account for the
absence of engagements of the metal for shipment
hence during the week; the American bankers were,
doubtless, advised by the Reichsbank that there
was no immediate need for further shipments, and
therefore such . operations were temporarily suspended. It would now seem to be possible for the
Bank, in view of its enormous gold holdings, to
further reduce its rate of discount if thought to be
desirable; indeed, it would cause no surprise if announcement were to be made of such reductiOn next
week. But even though there should be a reduction
in official rates, those in the open market might easily
be high enough to attract gold from New York, were
interest-free advances to be offered, and therefore
exports of the metal to Germany may probably
continue so long as they shall be found profitable.
The incident of the recent conference between the
King of England and the Emperor of Russia at Reval,
following so closely that of the visit of the President
of France to King Edward, is regarded by some
foreign bankers as of considerable significance. Business and industrial situations in Europe are far from
being wholly satisfactory, and it no doubt appeasod
to King Edward desirable to make an effort to compose
political differences between these nations, where
they may exist even in a minor degree, to the end
that nothing of a political character may develop
which will threaten to arrest the tendency toward
the resumption of business activity. He was doubtless in a position to give assurances of the cordiality
of the German Emperor's feelings toward France.
There remained then nothing more but to obtain
assurances of the progress which was being made
towards industrial development and political peace
in Russia, and hence the conference at Reval.
The foreign journals, in discussing this conference,
comment upon the statesmanlike qualities of the
Russian Foreign Office. Such qualities have• been
made strikingly manifest in the series of agreements
with Japan, thus removing the menace of any
friction between the two countries in Manchuria.
Assuming that this Far Eastern situation was discussed at the conference the evidence which he secured
of constructive governmental policies in Russia, enabled his mission to be satisfactorily concluded.,
JUNE 27 1908
TIM C1MONICLE
1555'
potency, and it is gratifying to have such a leading
university as Yale recognize that human activity
of that description is entitled to recognition at least
as much as eminence and activity in what are called
the learned professions. to attempt to set down
what Mr. Morgan has accomplished during the last
thirty-five or forty years would claim page after page
of our space. His achievements and accomplishments
are in the main the record of the country's progress
and growth during the same period of time. We shall
attempt no extended narrative here of what he has
done. The part he played in bringing about the West
Shore settlement in 1885 made him at once a foremost
figure in the financial and railroad world. This is
nearly a quarter of a century ago, and since then he
has steadily increased his prominence through further
action of the same kind. His most distinguished
services have been rendered in times of trying need.
The West Shore arrangement was one of these occasions. On account of the construction of the West
Shore and other competing lines alongside the older
lines, the railroads became engaged in one of the most
destructive wars in American railroad history Railroad values were fading away to a most alarming
extent. The task of bringing the warring factions
together seemed a hopeless one, but Mr. Morgan
accomplished it.
At a later period when,during the second Cleveland
Administration the suspension of gold payments was
threatened by reason of silver-inflation laws, Mr.
the
in
Morgan,in conjunction with August Belmont,organized
appropriate
There was something singularly
the
celebrated Morgan-Belmont syndicate to avert a
the
conferring
in
action of Yale College this week
which otherwise would surely have come.
catastrophe
this
In
Morgan.
P.
degree of Doctor of Laws on J.
did more than merely sell a large block
This
syndicate
recipithe
than
rather
Action Yale distinguishes itself
bonds. It controlled for many months
Government
of
prea
such
occupies
ent of the degree. Mr. Morgan
market, preventing further outforeign
exchange
the
world
industrial
and
financial
eminent position in the
requirement at that time.
imperative
gold—an
of
flows
the
as
honor
an
such
him
upon
that even bestowing
was formerly known
in
what
comprised
lines
the
When
influence
can
little
have
conferred
university has now
Point
system got
West
Terminal
&
Richmond
the
as
mendomain
In
the
prominence.
in increasing his
tioned he ranks easily as the most commanding figure into a state of hopeless insolvency and several attempts
,of the times, and that fact is recognized everywhere, on the part of others to reorganize them had failed,
and accomplished the
not only in the United States but all over the world. Mr. Morgan again stepped in
It is the custom among colleges to recognize distinc- apparently impossible, forming out of the wreck what
tion chiefly in literature and the arts, and certainly has now become the powerful Southern Railway
the various
culture and mental fitness and training are indicated system. When war was threatened among
in the possession of unusual acquirements in these steel-producing companies, Mr. Morgan once more
different
fields, or in law, medicine and theology; but human found his mission. He combined the
Andrew
letting
,
progress and mental alertness are no longer confined companies in a common organization
Steel
Carnegie
the
for
to these lines of activity. The distinctive feature of Carnegie name his own price
agency,
destructive
a
as
him
the world's progress during the last one hundred years Works,so as to get rid of
has been its marvelous advance in industrial affairs, and formed the world's greatest industrial incorporaWand it is to that sphere of usefulness that the com- tion—the United States Steel Corporation.
We have attempted here reference only to those
manding intellects of the age are turning their attennaturally come
tion. Commerce is now counted as broad in opport- foremost accomplishments of his which
work during
his
of
survey
mental
unity as any other thing: It is here that Mr. Morgan to mind in a brief
cite the list
To
years.
thirty
or
has risen to a plane of great eminence, and has accom- the last twenty-five
has been
he
in
which
transactions
large
plished so much for the general good of his fellow of all the
important
the
of
most
the
name
to
be
would
beings and promoted civilization and progress. It is leader
has
to be said, though, that even for his part in having operations of that period. When disturbance
themfound
have
corporations
carrying
and
Aided advance in the arts, Mr. Morgan is entitled to no come
has
mean place, for he is a distinguished art collector and a selves in trouble, or when the Government itself
to
how
to
see
man
the
has
been
he
assistance,
of
needed
patron of galleries and museums. Furthermore,the list
lead
gradually
and
es
circumstanc
of
best
the
make
his benefactions to schools,libraries, hospitals, museums
and other useful public purposes, to which men of to a restoration. To-day he is the man first thought
or
wealth voluntarily acknowledge obligation,is along one. of if any important matter in the world of finance
be
to
needs'
industry,
and
trade
or
on,
transportati
and
But it is as a creative force in the financial
honorable
Industrial 'world that Mr. Morgan has attained chief carried through. The most notable and
He is therefore in a position tcr promote the establishineht of prolonged peace in Europe, even without
the organization of an'alliance. He is prepared, too,
to encourage the development of industrial activity
through assurances that the opportunity therefor
is offered in Russia. Such opportunity could not
be safely embraced had not governmental reforms
been instituted, after the unfortunate experiment
with the earlier organized Dumas, so as to compose
the internal political situation. Now the Duma is
recognized by the Ministry as a coordinate branch
,of the Government. This fact seems to be attested
by the recently reported incident of the submission
to the Parliament, by the Finance Minister, of a
request for the emission of an internal loan for 100
million dollars after the President of the Duma had
protested against the issue of the loan without the
parliament's assent. It is suggested that as the
result of the conferences between King Edward,
the French President and the Czar, there may soon
be announced the issue by Russia of an international
loan for a substantial amount, which will be negotiated in France and England. The loan will be
authorized by the Duma, thus complying with the
requirement of French capitalists, and presumably
the terms will be more moderate than those heretofore proposed, because of the intervention by King
Edward in the interest of political peace and industrial progress.
1556
THE CHRONICLE
characteristic of Mr. Morgan's entire career is that he
has been conservative and constructive; he has touched
matters only to build up and enlarge, never once to
pull down. An instance.of this which is still fresh in
memory (since it is only eight months old) was his
action in checking disaster last October. In the
general belief of at least this part of the country, that
disturbance began in action at Washington; the check
to it was first applied in New York, and in this Mr.
Morgan bore a prominent part. "Great governments
lean upon him in military and financial crises, and his
consolidations of industrial and transportation properties cover continent and ocean," said the Yale
professor on Wednesday. This cannot be deemed
extravagant panegyric, for Mr. Morgan has certainly
exhibited, for mankind, the productive and beneficent
uses of capital, and in a degree displayed by few if
any of his contemporaries.
There are indications in certain directions, though
only slight at best, of improving business conditions.
By this we mean that there is just the least bit more
activity than when things reached the point of deepest
depression in May. To be sure, there is little evidence of improvement in the returns of railroad
earnings. For the latest full week for which the
returns are at hand, namely the second week of
June, the ratio of decrease in gross revenues still
runs very close to 20 per cent, being 19.32 per cent,
while the few roads which have thus far come to
hand for the third week of June show in the aggregate a shrinkage of 19.09 per cent. But it is quite
possible that these returns do not reflect accurately
the volume of traffic of the roads. We still hear
suggestions of proposed increases in railroad freight
rates, though nothing definite or tangible looking
to a general increase has as yet been accomplished,
and meanwhile we are very apt to overlook the fact
that reductions on a larger or smaller scale are all
the time being made in special cases by government
bodies—State and National.
The Inter-State Commerce Commission is particularly active in this way, though in a quiet fashion.
It is deciding numerous cases every week where
complaints have been made. Some of the complaints are dismissed, but in not a few instances
applications for relief are granted, and often the
result means considerable reduction in revenues,
owing to the circumstance that the order applies
to important items of freight. We may refer in
illustration to some rulings of this. kind rendered
the present week. The Commission itself calls them
"a group of important cases." They involved the rates
on lumber, shingles and other forest products from
points in Washington, Oregon, Idaho, Montana and
British Columbia to Eastern .and Southern markets;
also from points in the Willamette Valley to San
Francisco. It appears that in November 1907
a general advance in lumber rates from North Pacific
Coast territory to points East thereof was made,
and that this advance has now been challenged.
The Commission decides that the advanced rates
applying to all points on and west of a line drawn
from Pembina, N. D., through Grand Forks, N. D.,
Moorhead and Breckenridge, Minn., Sioux City and
Council Bluffs, Iowa, St. Joseph and Kansas City,
Mo., and thence to Port Arthur, Texas, along the
Kansas City Southern Ry., including also all points
east of that line which now take the same rates as
any point located on said line between and including
Sioux City, Ia., and Kansas City, Mo., were unreasonable, and by its orders restores the lower rates
which were in effect on and prior to October 31.
A somewhat different conclusion, we are told, is
reached with respect to the rates applying to the
territory lying east of the Missouri River. A part
of the increase to the more distant markets is permitted to stand,but the maximum permitted is 5 cents
per 100 lbs. over the old rates, and this maximum is
not authorized in its entirety, except to Duluth,
Minneapolis, St. Paul and Minnesota Transfer and
to points on and east of the Mississippi river, so that
to points to which the maximum increase is allowed
"approximately 50 per cent of the increase made
by the carriers is condemned," resulting—we are
quoting the Commission's own words—in a reduction
of about 5 cents per 100 lbs. in the rates now in effect.
The present controversy, it will be seen, relates to
rates which had been advanced last year, but it
often happens that reductions are ordered even where
rates have not been raised. In any event, the effect
is that the carriers are obliged to rest satisfied with
lower rates than they have been charging. , It is
rather significant that in the particular instances
noted, two of the Commissioners (Chairman Knapp
and Commissioner Harlan) dissent from the conclusions reached by the majority on the ground that
the major portion of last year's advance in rates
was reasonable, indicating that the case against the
roads was by no means a clear one. This, however,
does not mitigate the harshness of the proceedings,
compelling a return to former low rates at a time
when all business is shrinking and railroad revenues
are falling off in a frightful way.
Perhaps the most distinct indication of somewhat
greater activity in trade is found in the falling off
in the number of "Teddy Bears" (idle freight cars)
on the railroads. The reports are made up twice
a month and the statement just published shows the
third successive decrease in the number of cars earning no return on the investment. On April 29 no
less than 413,338 cars were found idle. By May 13
the aggregate had been reduced to 404,375, by May
27 to 381,779, while now for June 10 the number
is down to 349,567. The total is still extremely
large, it will be seen, and gratification over the fact
of a reduction is qualified by the circumstance that,
in part, the decrease has been brought about through
the sending of the cars to. the "hospital", as the
saying is. This means that, owing to the fact that
so many of the cars are out of use, those in worst
condition are being sent to the repair shops and kept
there for the time being and no longer counted in
the list of active equipment. A bulletin issued by
the American Railway Association calls particular
attention to this retirement of cars from active service as explaining a good part of the decrease in
idle equipment. It is stated that cars in bad condition have further increased since the last semimonthly statenient and that about,20 per cent of the
decrease in idle equipment since then is accounted
for by that circumstance. The previous time 40
to .50 per cent of the decrease of 22,630 cars. hetween
JUNE 27 1908.1
THE CHRONICLE
1557
May 13. and May 27 had been .attributed to an in- 24, it is announced,this committee will take possession,
crease in the number of cars in the "hospital."
and on the following day all the lines except the two
which run to Greenpoint and now pay a little above
Anti-option legislation, as applied to the restricting operating expenses will "probably" be closed. If
or preventing of dealings in cotton for future delivery, the five are to be kept open, the spokesman for the
does not appear to be as popular as it was only a short committee says, the city must make some satisfactory
time ago at the South. Then it seemed as if every arrangement, either taking them over formally or in
State in which cotton is raised was eager to put a ban some manner assuming the loss. About the middle
upon that meth6d of trading in the staple. In fact, of this month application was made on behalf of the
a number of the States enacted legislation branding oper- bondholders through the trustee for leave to close the
ations in futures or options as criminal, and providing ferries. It was then said that the number of passenextreme penalties for those found guilty of breaking gers carried annually had declined from 33 millions
the new laws. We note recently, however, very re- when the consolidated bonds were issued in 1898 to
markable reversals of this sentiment among intelligent about 73/i millions, and the increase in trucking does
Southerners. Even that, however, hardly prepared not compensate for this decline. Since April 15, it
us for the news from Louisiana the last of the current was further said, the ferries have been operated at
week.
the cost of the bondholders and there is nothing
The final hearing before the joint committees of the discoverable in the leases which obligates the lessee
House and Senate of the Louisiana Legislature on the to continue. The condition is a serious one the
Marston-Potts bill, prohibiting future trading, held plaintiff admitted, "but it is one which the city itself
previously, furnished evidence of the tendency, al- must meet, inasmuch as it is the city which is responready noted, to give less heed to what might be called sible for the present condition."
uninformed popular clamor. Strong argument was
Here is the argument again that the city has caused
made by the sponsors of the bill to secure a favorable the situation by building bridges and must therefore
report thereon, in which, however, much irrelevant undertake, in its corporate capacity, all readjustments
matter was included and erroneous and misleading and compensations which the bridges apparently
statements were made. Particular stress was laid make necessary. The city has built two bridges and
upon the fact that in Georgia, South Carolina, Ala- in construction a third whose effect is expected to be
bama, Florida, Arkansas, Texas and Mississippi trad- the finishing blow at the ferries; but it built these in
ing in futures has been forbidden by legislative en- response to a continued and increasing public outcry,
actment, Tennessee alone failing to pass a law to .sup- and if it must have the incidental consequences of
press gambling—that is the word used by the speaker, its good works imputed to it as a "fault," the conMr. Potts. Despite the argument made, however, the clusion is a hard one on moral grounds at least. To
House Committee failed to take favorable action on the keep the bondholders in the breach would be hard
measure, and on Thursday of this week the Senate upon them in turn, yet Justice Kelly, in deciding that
Committee on Agriculture, by a vote of 9 to 1, reported the receiver must continue operation until the prothe bill unfavorably. This would seem to remove perty advertised had been sold and turned over to the
any prospect of anti-option legislation in Louisiana purchaser, said that the courts have always had regard
for at least the present session.
to the maintenance of transportation facilities, so
The trouble in all the Southern States where laws that the public shall not suffer, and in some instances
against future trading have been put upon the books, employes have been forbidden to stop working because
or are yet under discussion, has been inability to dif- of the public inconvenience which would follow, notferentiate between legitimate dealings in options or withstanding the men were compelled to take less
futures, as carried on by cotton exchanges, and the than the fair worth of their services. On behalf of
strictly gambling transactions or bets in bucket shops. the city, an interesting question was raised by opposing
The popular stock of misinformation on the subject the application for leave to discontinue on the ground
has been persistently added to by a few men who, that stopping operation "would impair a contract
being recognized as leaders in a movement to secure made by the city with the people that the ferries would
higher prices for cotton, have been able to exert con- run until 1911."
siderable influence. But, as already stated, evidence
Here is a suggested distinction between the "city"
is accumulating that their influence is on the wane. and the "people." Justice Kelly seemed inclined to
Every effort should be put forth, South as well as accept the idea of an implied duty, if not of a contract,
North, to suppress the bucket shop—where each trans- for he pronounced the ferries to be "simply conaction is a bet, shares or commodities playing no part tinuations of the public streets and highways." The
in the dealings between principals and clients. But franchise to operate the ferries has been created, he
when full realization comes of the serious mistakes said,f`and it is an important dutrOn the part of the
made in the enactment of anti-option laws, and the municipality to procure the operAion by some cortime is not apt to be far removed, the various States poration willing to undertake the work for the resultwill either hasten to repeal the laws made or, by fail- ing profit, or, if no one can be found to undertake the
ure to enforce the statutes allow them to become in- work and the public needs justify it, then the city has
operative.
power to maintain the ferries, as it maintains streets
and bridges and other ferries between different parts
Pursuant to advertisement, the property of the of its territory."
Brooklyn Ferry Company was sold at auction on
The Staten Island municipal venture is brought in
Thursday, in foreclosure proceedings, at the nominal here as a precedent, and, by the way, it is not long
figure of $25,000, the purchaser representing the since a delegation of Staten Islanders were about to
reorganization committee of bondholders.' On' July demand immediate fulfillment of an alleged promise
1558
THE CHRONICLE
to start a ferry to Stapleton, the suggestion being
made that the old and now disused boats could be put
in condition at small expense and that the only
extra operating cost would be for coal, because, as it
is interesting to note, too many men are on the payroll of the present ferry and some of them could be
diverted without need to hire another man. But
Justice Kelly inserted a saving clause which may be
of practical value, and while the difficulties of the
situation are evident, the most practical way out of it,
at least for the present, might be to provide, on a basis
of reduced cost,for the trucking needs,which are really
the most serious factor in the situation.
Lxxxvi
thirty, 2@23.4% for sixty and 23(@23'% for ninety
days, 3@3Y4% for four to five, 31A% for six months
and 3%@4% for over the year; the business reported
was small. Commercial paper was quoted at 3y%
for the best grade of sixty to ninety day endorsements
and for short single names and 432% for the choicest
six months' unendorsed paper and for good notes of
this maturity; the supply was limited.
The Bank of England rate of discount remains unchanged at 2M%. The cable reports discounts of
sixty to ninety day bank bills in London 134%. The
open market rate at Paris is 1% and at Berlin and
Frankfort it is 3y4,@3%%. According to our special
cable from London, the Bank of England gained £540,441 bullion during the week and held £39,404,613 at
the close of the week. Our correspondent further
advises us that the gain was due almost wholly to
receipts from the interior of Great Britain, the net
imports having been but £12,000. The details of the
movement into and out of the Bank were as follows:
Imports, £42,000 (of which £21,000 from Egypt,
£10,000 from South Africa and £11,000 from France);
exports, £30,000 (of which £20,000 to Batavia and
£10,000 to Amsterdam), and receipts of £528,000 net
from the interior of Great Britain.
There was no change in official rates of discount by
any of the European banks this week. The Bank of
Bombay reduced its rate from 7% to 6% and the Bank
of Bengal from 6% to 5%.
One feature of the statement of the New York Associated Banks last week was the large increase in
loans and in deposits, the former by $23,340,900 and
the latter by $29,975,900; the gain in both these items
was, however, partly due to the inclusion in the statement of 17 millions each of loans and deposits of the
National Copper. Bank, which was, in that week, admitted to membership in the Clearing House. The
reserve increased $4,601,425,to $61,273,700; computed
The foreign exchange market was irregular and
upon the basis of deposits less those of public funds,
the gain in reserve was $4,409,750,to $66,044,700; cash generally lower this week. It was influenced on
increased $12,095,400, of which 4 2-5 millions was re- Monday by a good supply of bills against Union
Pacific bonds that had been negotiated in London,
ported by the National Copper Bank.
and also by the moderate inquiry for remittance.
With the exception of a firmer tone for time loans, There was some speculative selling of exchange early
due to absorptions of cash by trust companies which in the week, apparently in expectation of further .
were reinforcing their reserves in vault in compliance drawings against the Union Pacific bonds; these
with the requirements of the State law that would be- sales were covered later because of an improvement
come effective July 1, there was no important feature in the tone resulting from a demand for mercantile
in the market for money this week. The minimum rate remittance and also to pay for securities that had
for call loans was 1%; trading on the Stock Exchange been sold for European account. The ease in open
was almost stagnant and confined to professionals; the market discounts in London contributed to the
outlook for improvement in prices was unfavorable, maintenance of a firm tone for long sterling, and reowing to disclosures of decreased railroad earnings mitters seemed to prefer employing such bills, rather
and continued reductions or defaults in dividend declar- than short, because of the comparative small supply
ations; hence, the public were observers of,rather than of the latter, which made the market therefor quite
participators in, market movements. Comparatively sensitive. Some deferred payments were effected
large balances of bank money were left unemployed with cables on Wednesday and this class of exchange
at the end of each day, through inability to place it was in demand on account of the pendency of the
over night, and there was no disposition to press funds semi-monthly settlement on the London Stock Exon the market, either by banks or trust companies, change and for the transfer of balances incident to
for such a course would result in a decline in rates to requirements for the half-year period. Sight francs
unprecedentedly low figures. Time loans which would were strong throughout the week at or about the
mature at periods that ordinarily would be regarded highest figures, and there were some transactions
as advantageous to the borrower were not in request, in cable marks. Commercial sterling bills were in
and over-the-year loans only were sought. The de- quite moderate supply and rates were firm. There
mand for commercial paper, which has latterly been was a transaction reported during the week in an
the feature of the market, has become so urgent as exchange loan for six months, but this was regarded
practically to exhaust the supply; merchants are not as having little significance, it apparently indicating
borrowing freely, though discounts are moderate, a desire by the borrower to secure foreign capital
which could be obtained on more advantageous
for the business outlook is uncertain.
Money on call representing bankers' balances terms than could domestic funds.
Compared with Friday of last week, long sterling
loaned at the Stock Exchange during the week at 1%
and at 1%, averaging about 1M%; banks loaned at on Saturday was 10 points lower at 4 8540@4 8550,
1% as the minimum but trust companies were out of short 5 points at 4 8685@4 8695 and cables 10
the market because of the low rates and also for the points at 4 87()4 8710. On Monday long fell 5
reason that they were reducing deposits that had been points to 4 8535@4 8545, while short rose 5 points
placed with their banks. Time loans on good mixed to 4 8695@4 87, and cables 10 points to 4 8710®
Stock Exchange collateral were quoted at 2% for 4 8715. On Tuesday long advanced 20 points to
JUNE 27 1908.j
THE CHRONICLE
4 8555@4 8565, short declined 5 points to 4 8690@
4 8695 and cables 5 points to 4 8705@4 8710. On
Wednesday the market was quiet with long 10 points
lower 4 8545@4 8555 and short and cables unchanged.
On Thursday the market was strong and long
rose 20 points to 4 8565@4 8575, short 15 points
to 4 8695(0 8705 and cables 20 points to 4 8720@,
48730. On Friday long rose 5 points and short
fell 5 points, while cables were unchanged.
The following shows daily posted rates for sterling
exchange by some of the leading drawers.
1559
respect created by hysterical enthusiasm of partisan_
politics.
Such a chapter in the history of any public mart'
would necessarily indicate his possession of some unusual qualities. In the case of President Cleveland,
it cannot perhaps be said that the qualities which
made him a great Executive were of themselves
unusual; they were, in fact, the characteristics which
mark out in private life a multitude of men who win
the confidence and esteem of their neighbors. But
we had grown in this country, prior to Mr. Cleveland's
entry on public life, altogether too much accustomed
Frt., Mon., Tues., Wed., Thurs., Fri.,
June 19 June 22 June 23 June 24 June 25 June 26
—
—
to the notion that such qualities as straightforwardBrown
160 days 4 86H
86H
86H
86%
86H
863
Brothers
1,Sight-- 4 88
88
88
88
ness, consistency and scorn of that compromise which
88
88
Kidder, Pea60 days 4 86H
86%
86%
86H
86H
86H
body & Co
Sight-- 4 88
88
88
88
88
88
surrende
rs principle and sacrifices the right in order
Bank British
60 days 4 86%
86H
86H
86%
86H
86H
North America - Sight-- 4 88
88
88
88
88
88
to
gain
political
Bank of
60 days 4 86%
advantage, were not to be expected
86H
865
86H
86H
863
Montreal
Sight-- 4 88
88
88
88
88
88
from
Canadian Bank
a
Chief
60 days 4 863
Magistra
86H
te confronted with the exi86H
86%
86H
86H
of Commerce
Sight-- 4 88
88
88
88
88
88
Heidelbach, Iekel60 days 4 86%
gencies of politics. What won the public confidence
86%
86H
86%
86H
86H
beimer & Co-Sight- - 4 88
88
88
88
88
88
Lazard
60 days 4 86%
86H
in Mr. Cleveland was the fact that he practiced in,
86%
86%
86H
86%
Freres
Sight- - 4 88
88
88
88
88
88
Merchants' Dank
60 days 4 86H
86H
86%
86H
863
80H
office precisely what he professed in private, and
of Canada
Sight-- 4 88
88
88
88
88
88
that he was always ready to jeopardize his own politiThe market closed on Friday at 4 8570®4 8575
cal fortunes when the alternative was the abandonfor long, 4 8695(4)4 87 for short and 4 8720@
ment of principle.
4 8730 for cables. Commercial on banks 4 8535@
But this was not the whole. It is always passible,and
4 8545 and documents for payment 4 84%@4 853/
8. has frequently happened, that a public
man will reCotton for payment 4 84%@4 84k, cotton for
tain with unyielding stubbornness a position which has
acceptance 4 8535@4 8545 and grain for payment
been hastily and impulsively assumed. In such a
4 85@4 853'.
case it is often difficult to say whether the honest
The following gives the week's movement of money man who thus persists in a mistaken position is not
quite as dangerous in public life as the man who habituto and from the interior by the New York banks.
ally compromises. President Cleveland, fortunately,
Received by
Shipped by
Net Interior
Week ending June 26 1908.
N. Y. Banks. N. Y. Banks.
added to his tenacity of principle and purpose a slow
Movement.
Cnrrency
$11,371,000
$5,244,000 Gain $6.127.000 deliberateness in making up his
Gold
mind, and a capacity
2,089,000
1,167.000 Gain
922,000
for
thoroug
hly
studyin
Total gold and legal tenders
g
out
step
a
before taking his
$13,460,000
$6,411,000 Gain $7,049,000
final position regarding it. This explains why his most
With the Sub-Treasury operations the result is as
noteworthy executive actions were, in not a few cases,
follows.
taken in advance of the great body of public opinion,.
Into
Out of
Net Change in
and yet that the public followed not far behind the.
Week ending June 26 1908.
Banks.
Banks.
Bank Holdings.
decision
Banks' interior movement, as above_ $13,460,000
of the President. Of this the most notable
$6,411,000 Gain $7,049,000
3ub-Treasury operations
39,200,000
35.100,000 Gain 4,100,000
instance was Mr. Cleveland's celebrated pension vetoes
Total gold and legal tenders
.$52,660.000 $41,511,000 Gain $11,149,000
Weare not now so far removed from 1885 and 1886 but
The following table indicates the amount of bullion that many people can recall the
outcry which arose
in the principal European banks.
on the veto of these special legislative Acts in favor of
June 25 1908.
June 27 1907.
Banks of
applicants for the pension largess. Opposition politiGold.
Total.
Gold.
Silver.
Total.
cians
harped on what they called the conclusive demonz
England-- 39,404,613
39,404,613 35,544,221
stration that enmity to the men who fought to put
France -- 126,055,687 37,843.901 163,899,588 110.493.259 39.695,667 35.544,221
Germany 40,058,000 16.601,000 56,659.000 34,500,000 13,887,000 150.188,926 down
the rebellion was the real motive of the first
Russia _ 111.827,000 7,651,000 119,478,000 116,437,000 6,582,000 48,387.000
Aus.-Hun_ 46,800,000 13,339.000 60,139,000 45,700,000 12,628.000 123,019,000
Spain - --- 15,610,000 26,850,000 42,460,000 15.540,000 25,825,000 58,328,000 Democratic President since the War. It was not
Italy- - — - 36,232,000 4,300.000 40,532.000 32,383,000 4,911.700 41,365.000
Neth lands 7,703.100 4,265,400 11,968,500 5,357,700 5,747,100 37.294,700 long, however, before the President was able
to conNat.Belg... 4,150,667 2,075,333 6.226,000 3,224,000 1,612,000 11.104,800
4,836,000 vince his
Sweden 3,886,000
angriest
3,886,000 4,141,000
critics
that
he
had
not
4,141,000
proceed
ed in
Switzgand 3,593,000
3,593,000 1,250,000
1,250,000
Norway -- 1,453,000
1.453,000 1,700,000
1,700,000 this matter without just grounds of action, and that
Total week 436,773,067 112,925,634 519,698,701 406,270,180 110,888.467
what he was undertaking to do was to put an end to
Prey.week 433,850,535 110,885,852544.736,387 405,233,635 110.465,752 517,158,647
515.699,387
a notorious fraud, to stop the distribution of Government money to men who were not entitled to it and
EX-PRESIDENT CLEVELAND.
who had been declared not to be so entitled after a.
Nothing about ex-President Cleveland's career was proper
examination by the Pension Bureau.
a more frequent matter of comment, when the news of
Until Mr. Cleveland laid his hand to the task, no
his death arrived last Wednesday, than the fact that public man
had possessed sufficient courage to de- •
he had enjoyed the rare privilege of achieving what is nounce this
scandal. Plenty of senators and represenusually a posthumous reputation. To him, after a tatives knew
the dangers of the practice and the
series of years when almost unmeasured obloquy had vicious
consequences to which it must inevitably Lead
confronted him—incurred, as most people now admit, Inprivate they
made no secret of their opinion regardwith no blame whatever on his part—there came in ing it. But
even where they did not fear the misthe closing years of his life a complete renewal of the judgments
of their own constituents, they feared the
public confidence which had been his during his first retaliation of
their fellow-members when other bills in
Administration, all the more genuine because it was which their
districts were interested should come up
tempered now by sober reflection and was in no for action.
Therefore it was that not a voice was
1560
TIIE CHRONICLE
raised in the public halls to denounce this outrage on
the public faiih, and it was precisely for that reason
that President Cleveland applied himself-to the Unpleasant duty. He did it, after.his fashion, in entire
disregard of the dangerous consequences to his ,own
political fortunes. The result has been distinctly
beneficial in so far as the greed of the pension attorney and the log-rolling Congressman has been checked,
and a decent degree of circumspection observed in
subsequent special legislation ,of the sort. Had Mr.
Cleveland's successors in the'White House faithfully
pursued his policy regarding this legislation, the
work would have been thoroughly and finally accomplished.
In his attitude toward financial questions, Mr.
Cleveland's policy was precisely similar. With rare
exceptions, the public declarations of his predecessors
on such matters as that of free-silver coinage had been
so imbued with compromise and concession as to be
practically meaningless. So generally clearheaded an
executive as President Hayes had stated in an annual
message that the United States, producing as it did
more silver than any other country, was "directly
interested in maintaining it as one of the two precious
metals"—a statement admirably calculated to befog
the entire subject. President Harrison had, on the
one hand, declared that a free-coinage law "would
be discreditable to Our financial management and
•disastrous to all business interests," but on the other
hand had announced himself as an advocate of the
"larger use of silver in our currency" because "we are
-large producers of that metal." Either faction could
appeal to one of these executive assertions.
For this ambiguous attitude Mr. Cleveland had no
taste. From the start, his public and private statements regarding the silver-coinage question were
direct, uncompromising and consistent. His letter
to General Warner in 1884 regarding free coinage;
his public speech against that policy during his candidacy in 1892, when his own party committeemen
beseeched him to say nothing; his direct.and positive
assertions,, in' the Treasury's distress of 1893, that
the language of the Sherman Act required redemption of the Government notes of 1890 in gold, and
his unhesitating veto of the concession to the freecoinage party through the bill of 1894to coin the seigniorage, were all marked by the same clean-cut and positive conviction on the subject. It has! been said
that this unbending policy of Mr. Cleveland precipitated the violent struggle over the extreme freecoinage doctrine which occurred in 1896. This
may or may not be so; but, even if it were to be
admitted as a fact, no one who studies the financial
history of the period can doubt that the day of half
measures and meaningless promises was . over, and
that in fact such futile efforts to postpone the evil
hour ought to have been abandoned years 'before.
Of the great fight which ensued over the standard
of value, it may be said, as has been often said of
the slavery question—concerning which also there
was a whole generation of compromises—that the
test had to come, and that it was quite as well that
it should be fought to a finish once for all.
The failure of Mr. Cleveland's second Administration
to leave any notable mark on constructive legislation will be admitted by history. The reasons for
that failure were, in the main, economic; for the
Lxxxvz.
deadlock between'the President and the Senate,to which
the blockade of the Administration's .policies.is commonly ascribed, Was itself a result of the hard times
and the public 'discontent which gave to the Senatorial
obstructors a courage 'which they 'would Scarcely
otherwise have displayed. The condition of the
West especially, then in a state bordering on insolvency, made the President's position one of extreme
difficulty. That the people at large, smarting under
their losses, should have placed the responsibility
on the Administration for the panic of 1893, was not
surprising; yet it may be said, with little hesitation,
that the blame was most unjustly laid. Political
orators of the opposition party ascribed the panic
of that year to the Administration's tariff policy,
and this notion still survives in many minds which
have forgotten, or which never knew, that the tariff
bill of the second Cleveland Administration was not
even framed until nearly a year after the panic of
1893, and that the breakdown of the Treasury's
resources, which was one of the most serious aggravating factors in the case, had begun even before
Mr. Cleveland's election.
It is now conceded by economic history that there
were three immediate causes of the panic of 1893—
first, world-wide reaction from a previous overdone
boom in trade, •exemplified in London by the panic
of 1890, and only postponed in the United States
through fortunate harvests; second, overproduction
and low prices for the necessities of life, and, third,
distrust of the soundness of our currency and of
the solvency of the Federal Treasury. For the first
two causes, no public man and no political party
was responsible; for the third, the responsibility can
scarcely lie elsewhere than at the door of the legislators who framed the Silver Purchase law of 1890
and the revenue and appropriation laws of the same
year, which placed the Government's financial position
wholly at the mercy of an accident of trade. Mr.
Cleveland's position, inheriting as he did from a
previous Administration this financial tangle, was
surrounded with pitfalls. He faced the. situation
with his usual courage and directness. When it was
found that the gold reserve for redemption of the
Government notes could be maintained only through
issue of pulbic loans, the Administration came unhesitatingly into the market. When, owing to the
extreme financial depression which prevailed, it became impossible to maintain this redemption fund,
even through negotiations with the banks, the Administration did not hesitate to enter on a contract
with an international syndicate.
.That Mr. Cleveland knew what public outcry and,
political abuse would follow his contract with the
Morgan-Belmont syndicate in 1895, there can be no
question whatever; but this knowledge did not cause
a moment's hesitation. Some of his critics even
now repeat their charges of bad judgment, if not
abuse of the public credit, and point as evidence
to the fact that in January 1896 another public
loan was floated through the direct subscriptions of
investors. They either forget, or deliberately ignore,
that the situation at the beginning of 1896 was something very different from the situation of February
1895, and that the year of relief and reassurance
which the country's business interests had enjoyed
through the operations of the syndicate was one
JUNE 27 1908. 1
THE CHRONICLE
main reason for the very different financial status,in
which the markets entered 1896.
Perhaps no episode in Mr. Cleveland's Presidential
career remains more a matter of controversy to-day
than his celebrated "Venezuelan message". Subsequent events have shown that the main purposes
underlying that message—namely, the positive assertion of the Monroe doctrine and the establishment
of our international prestige—have been achieved,
largely through that , very message. There is, indeed, some reason for contending that, indirectly
at least, our present good relations with Great Britain
had their origin in the shock caused by the momentary
vision, at the close of 1895, of what a political rupture
between England and the United States would mean.
On the other hand, it may be contended with much
force that the President, in his Venezuela message,
took a tone with the English Government, and referred
to the possibilities of collision in a way which might,
under not very different circumstances, have stirred
up public excitement, both here and in Great Britain,
sufficiently to have actually precipitated war. It
was the one action of his Presidential career when
Mr. Cleveland handled edge-tools without seeming
to have taken into full consideration all the possible
consequences. That the dangerous possibilities did
not become realities, may be a vindication of his
judgment, but it is not the kind of chance which he invoked on other occasions, or which most of us would
care to have our future Executives invoke.
FIXING THE PRICE OF COPYRIGHTED BOOKS.
A few weeks ago the daily newspapers throughout
the country gave great prominence to a decision of
the United States Supreme Court, handed down at
the beginning of the month in an action which, apparently, raised the questiOn of the right of publishers
of copyrighted books to fix the price at which such
books might be sold at retail. The case was that in
which R. H. Macy & Co. refused to be governed by
the requirement of the publishers of a copyrighted
novel entitled "The Castaway," that the book must
not be sold at retail at less than $1 00 for each copy.
Suit had been brought to restrain Macy & Co. from
selling the book. The United States Supreme Court
decides in favor of the firm, just as did the United
States Circuit Court and the Circuit Court of Appeals,
and this ruling has been hailed as a great victory and
as determining generally and definitely that publishers cannot fix the price of books. Nearly all the papers published headlines intimating that the publishers had been condemned for violating the Federal
Anti-Trust Law, and that what they had undertaken
to do had been once and for all declared illegal and
illicit. One newspaper headline was to this effect:
"Federal Supreme Court Decides that Copyright
Holders May Not Combine to Fix Price." "May Affect Patents Also."
We now have the full text of the opinion of the Supreme Court, and it puts a wholly different aspect on
the matter, making it evident that the decision is of
very restricted and limited application. Furthermore,
the ruling of the Court was not based on any provision
of the Anti-Trust Law., nor has it any bearing or application to patents or patent rights, the Court, indeed,
pointing out that there is little analogy between cases
1561
arising under the patent laws and cases like the present,
dependent upon the copyright laws.
•
Macy & Co. had purchased copies of the book for the
purpose of selling the same at retail.' The greater part
of these books they obtained at the wholesale price of
about 60 cents a copy, though a small quantity they
purchased at retail and paid the retail price of $1 00.
They fixed .89 cents a copy as their uniform selling
price, which, it will be observed, allows them a good
margin of profit, though it is eleven cents per copy below the price fixed by the publishers themselves for
the retail selling of the book. No question of contract
obligation between two contracting parties was involved. Macy & Co. had not entered into an agreement with the Bobbs-Merrill Co., the plaintiff in the
action, to sell the book at $1 00 per copy, and then repudiated the agreement. The publishing concern
rested its case entirely on the fact that its book was
a copyrighted book, and that, printed immediately
below the copyright notice on the page in the book
following the title page, there was inserted the following notice: "The price of this book at retail is $1 00
net. No dealer is licensed to sell it at a less price and
a sale at a less price will be treated as an infringement
of the copyright."
Counsel for the publishing concern in his argument
expressly disclaimed relief because of any contract,
and relied solely upon the copyright statute and rights
therein conferred. He sought to establish an analogy
between the statutes of the United States securing
patent rights to inventors and the copyright acts securing rights and privileges to authors and others,
and he cited precedents from decisions of the Court in
patent cases which he contended should be controlling
in the present copyright case. But the Court would not
accede to this reasoning; instead, it pointed out that
there are considerable differences between the paten;
and copyright statutes in the extent of the protection
granted by them.
The Court accordingly felt constrained to approach
the consideration of the question as an entirely new
one one that involves the extent of the protection
which is given by the copyright statutes of the United
States to the owner of the copyright under the facts
disclosed in this record. By the Revised Statutes
of the United States, the owners of a copyright are
given "the sole liberty of printing, reprinting, publishing, completing, copying, executing, finishing and •
vending the same." In view of this provision it waS
claimed on behalf of the plaintiff that the statute
vested the whole field of the right of exclusive sale
in the copyright owner; that he can part with it to
another-to,the extent that he sees fit, and may withhold to hiMself, by proper reservation,so much of the
right as he pleases.
It will be noted that the circumstances of the case
were rieculiar. Justice Day, who 'wrote the opinion
of the United States Supreme Court, lays stress on
this fact and he asks the question, What does the
statute mean in granting "the sole right of vending
the same"? Was it intended to create a right which
would permit the holder of the copyright to fasten by
notice in a book, or upon one of the articles mentioned within the statute, a restric ion
n the su
sequent alienation,of thefl subject-matter of copyright
after the owner had parted with the title to one who
had acquired full dominion over it and had given a
1562
THE CHRONICLE
[VOL, Lxxxvi.
satisfactory price for it? Justice Day says it is not conclusion reticters,iitk unnecessary to discuss other
denied that one who has sold a copyrighted article questions or to examine into the validity of the pubwithout restriction has parted with all right to control lishers' agreements, alleged to be in violation of the
the sale of it. The purchaser of a book, once sold by Acts to restrain combinations creating a monopoly
authority of the owner of the copyright, may sell it or directly tending to the restraint of trade." The
again,although he could not publish a new edition of it. distinction here made by the Court is very important
In the present instance the stipulated facts show, as and it should not be overlooked. Our highest Court
the Court observes, that the books sold by the pub- has not decided the question whether a publisher may
lishing house were sold at wholesale and purchased by or may not by contract,or agreement fix the price at
those who made no agreement as to the control offuture which a book published by him may be sold at retail.
.sales of the book and took upon themselves no obligation to enforce the notice printed in the book undertaking
THE COMPTROLLER'S EXHIBIT OF
to restrict retail sales to a price of $1 per copy.
NATIONAL BANKS.
The precise question, therefore, which came up in
The national banks of the country are in excellent
the case under consideration was, Does the sole right shape. This is clearly indicated by the completed
to vend secure to the owner of the copyright the right, abstracts of the reports for May 14 1908 issued by the
after a sale of the book to a purchaser,to restrict future Comptroller of the Currency. A particularly gratifysales of the book at retail,to the right to sell it at a ing disclosure is the status of the reserves held, especcertain price per copy because of a notice in the book ially in the more important financial centres of the
that a sale at a different price will be treated as an in- country. On the date of the report, New York City's
fringement? The Court thought the statute could not percentage was 30.52, and at a number of points, parbe given such a construction, and Justice Day takes ticularly in the Far West, where the accumulation of
particular pains to point out that the matter is purely money is desirable for moving the crops, an even higher
a question of statutory construction—Olat there is no ratio is shown. For all the reserve cities the average
claim in this instance of contract limitation, nor license held May 14 1908 is shown to have been 28.79%,
agreement controlling the subsequent sales of the book. which compares with 27.98% three months earlier;
The Court's views are clearly indic ated in the fol- on Dec. 3 1907, about a month and a half subsequent
lowing paragraph from Justice Day's opinion
to the panic, it was only 23.51%; on Aug. 22 1907 it
"In our view the copyright statutes, while pro- was 25.79%, and 25.62% a year ago. The current
tecting the owner of the copyright in his right to ratio is, it will be seen, higher than at any time remultiply and sell his production, do not create the
right to impose, by notice, such as is disclosed in this cently and is in fact the highest since Feb. 5 1901.
case, a limitation at which the book shall be sold at Country bank reserves are likewise in excellent conretail by future purchasers, with whom there is no dition, the general average being 18.40%, against a
privity of contract. This conclusion is reached in required percentage of 15, many States running
view of the language of the statute, read in the light above 20 and not one under
or close to the requirement.
of its main purpose to secure the right of multiplying
The
actual
cash
resources
of the banks were on May
copies of the work, a right which is the special creation
of the statute. True, the statute also secures, to make 14 largely in excess of those at any former time. The
this right of multiplication effectual, the sole right to holdings of gold, at 525 millions of dollars, silver 152
vend copies of the book, the production of the author's millions, and legal-tender notes 184 millions, were
thought and conception. The owner of the copyright each in
excess of any preceding totals, and these, with
in this case did sell copies of the book in quantities
the
national
bank notes on hand, made a grand aggreand at a price satisfactory to it. It has exercised the
right to vend. What the complainant contends for gate of cash resources of approximately 900 millions
embraces not only the right to sell the copies, but of dollars, as against the previous record of 826 milto qualify the title of a future purchaser by the reser- lions on Feb. 14 and 720 millions a year ago. With the
vation of the right to have the remedies of the statute passing of the
acute need, the volume of national bank
against an infringer because of the printed notice of its
notes
in
circulation
has fallen off from the 627 2-3
purpose so to do unless the purchaser sells at a price
.fixed in the notice. To add to the right of exclusive millions of February, the retirement of 13M millions
sale the authority to control all future retail sales, by being reflected in a reduction in the total of bonds dea notice that such sales must be made at a fixed sum, posited with the Government on that account. In like
would give a right not included in the terms of the manner, the
considerable reduction (509 millions)
statute, and, in our view, extend its operation, by
construction, beyond its meaning, when interpreted of Government deposits has released a like amount of
with a view to ascertaining the legislative intent in bonds. A quite important gain in individual deposits
jts enactment."
occurred in the three months ending May 14, bringing
, From the foregoing extract it will be seen how the total up to $4,312,656,790, or within 1014 millions
limited is the application of the decision. The only of the high-water mark of May 1907.
matter on which the Supreme Court assumed to pass
The volume of loans carried exhibits an important
was the interpretation to be given to the copyright increase since the date of the latest previous call,
law,and even that only in the restricted way raised by the amount of increase being 106 millions of dollars and
the facts developed in this instance, namely whether the aggregate 4,528 millions; that would be only 150
by the insertion of a notice in the copyrighted book millions below the record total of Aug. 22 1907. But
itself the owner of the copyright could tie the hands while in this last report the total of loans is, as stated,
of purchasers. The concluding paragraph in the 150 millions less than the highest record, New York
opinion contains an express declaration of the Court City banks exhibit an aggregate 39 millions greater
to the effect that it rests its conclusion entirely on this than ever before and 100 millions in excess of Augustlast.
one point and therefore has not attempted to pass
But a further noteworthy fact this statement of the
judgment on any other questions. The precise word- national banks for May 14 1908 discloses is the steady
ing of the concluding paragraph is as follows: "This gain in the number of institutions, and especially the
JUNE 27 1908.1
THE CHRONICLE
increase in localities where expansion in banking facilities is most needed. Progress was given to the expansion by the Act of March 14 1900, which authorized
their organization with minimum capital of $25,000
in towns of population not exceeding 3,000. And a
further stimulant to multiplication of institutions with
small capital was the amendment to the bond deposit
requirement of the National Bank Act, whereby a
small institution was enabled to begin business upon
transferring and delivering to the Treasurer of the
United States, as security for its circulating notes, any
United States registered interest-bearing bonds to the
amount of only one-fourth of the capital. Under authority of these Acts, there were chartered within the
past eight years (March 14 1900 to April 30 1908) 2,502
banks with aggregate capital of $65,205,500. In addition, within the same period, but under the Act of
1864, 1,354 banks of $50,000 or more capital (total
capitalization $161,127,800) were organized. In the
eight years, therefore, charters were granted for 3,856
national banks, with total capital at time of organization of $226,333,300. Of these, 1,233 were to
succeed State or private institutions, 482 conversions of State banks and 2,141 entirely new organizations. In the meantime, through voluntary
liquidations and failures, there has been a reduction
in number of 695, leaving the net increase for the eight
years 3,161, with capital of 296,053,824. Circulation
of national banks in the interim has increased 2% fold.
As already intimated, the Act of March 1900 was
of inestimable benefit to small communities where
banks were needed,but where it was impossible to secure the necessary capital to organize under earlier
enactments. This is readily seen by a glance at compilations furnished by the Comptroller. From them
we learn that between March 14 1900 and April 30
1908 over 600 banks were organized in the States of
New York, New Jersey and Pennsylvania, of which
over half had capital under $50,000 each. At the
South in 1900, before the Act became effective, there
were, all told, only about 550 banks, against 1,369
now, and a large majority of the new institutions
started with $25,000 capital. The Middle West shows
a total of 1,932 banks May 14 1908, against only 1,053
eight years ago,the gain in 2-3 measure being made up
of minimum-capital organizations. The remainder
of the West shows even more phenomenal growth;
against a total of 465 national banks in 1900, there are
at the present time 1,492, and over 800 of the gain of
1,027 commenced business with practically the minimum capital allowed by law. The contrast the eight
years 1900-08 (with the Act of March 14 1900 as a
stimulating factor) makes with the interval 1892-1900
is highly instructive. During the later period the gain
in number of national banks was 3,161;in the earlier eight
years there was a loss of 94 and a reduction in capital.
THE BURDENS OF THE RAILROADS.
Mr. William C. Brown, Senior Vice-President of the
New York Central lines, is rendering an important
public service in acquainting business men with the
influence which crippling the railroads and adding to
their burdens is having in promoting and accentuating
the present depression in trade. In an address at the
annual banquet of the Michigan Manufacturers' Association on Monday night of this week, he added still
further to the large fund of information of this char-
1563
acter previously contributed by him. He pointed
out that the railroads of the United States earn more
than $2,345,000,000 per annum, nearly 80% of which
sum is put into circulation again in the payment of
wages and taxes and the purchase of materials. An
army of more than 1,500,000 men is employed directly
in the operation and maintenance of these railroads,
and millions of other men are furnished employment
indirectly in the mines, the forests and the factories,
supplying the railroads with approximately one and
a quarter billion dollars worth of material and equipment annually consumed.
Mr. Brown also furnished some conclusive statistics
showing that there is absolutely no basis for the claim
made by uninformed persons that the railroads of the
United States as a whole are overcapitalized, though
he disclaimed any intention to defend isolated cases
of stock-jobbing. He gave figures to prove that the
aggregate value of the railroads of the United States,
giving no consideration whatever to the tremendous
increase in value of their vast terminals, exceeds their
total outstanding stock and bonds by nearly $750,000,000, and that their. securities rest on a basis which
should be, with fair treatment, as.safe and as dependable as a Government bond. Mr. Brown has been in
the railroad service over thirty-five years, and therefore is well qualified to speak on the subject. Aside
from that, however, he gives figures regarding
the lines with which he is identified that are very, instructive on the point in question, and which are the
more valuable because they are authentic. The capital stock of the New York Central lines, including all
proprietary lines, he states, is $418,783,000, and the
funded debt is $549,176,672. He says these roads
could not be duplicated to-day for 50% in excess of
this sum of stock and bonds; yet, during the last twenty
years they have paid an average annual dividend of
only 3.9% on the stock, and during that time have
taken out of earnings and .put into the property approximately $150,000,000 (or more than 38% 91 the
capital stock), for which not a single dollar of securities has ever been issued.
The fact that there is no over-capitalization is important in view of the plea which is being made that
the railroads should be allowed to inaugurate a slight
increase in their freight rates, to put them on the
road to prosperity again and revive confidence once
more in their securities on the part of investors. As
an illustration of how direct is the connection between
business depression and the inability of the railroads
to command capital for their needs, or to spend money
out of income, he pointed out that the retail trade in
Detroit alone is losing $450,000 a month, owing to
the fact that the Michigan Central Railroad—just one
of the New York Central lines—is spending that
much less for equipment.
Equally impressive facts of the same description
have been given by Mr. Brown in previous addresses.
A peculiarly fruitful address of this kind was that delivered at Chicago on May 15 at a conference of shippers and commercial organizations convened by the
Illinois Manufacturers' Association for the purpose of
opposing any increase of freight rates by the railroads.
In that speech Mr. Brown stated that in the year 1907
the New York Central lines had expended 33% million
dollars for engines and freight and passenger cars.
In the year 1908 the same system does not expect to
1564
THE CHRONICLE
[VOL. Lxxxvi.
purchase a single car of any description, except possi- interestion!bonds,
tolsay nothing of a fair return upon
bly five or six for electric operation in.,New York and the money
invested by shareholders, is extremely unabout 2Y
1 million dollars for engines.. Think what certain. It is essential,
therefore, that confidence in
that means to the ore producer, he said, to the steel the stability and
permanency of railroad investments
mills, to the locomotive builder, to the car builder; should again
be restored. Mr. Brown contends that
and think what it means to every farmer, to every a moderate increase
in railroad rates would at once
wholesale merchant and to every retail merchant, who have such
effect—would restore confidence in railway
are deprived in a large measure of the custom of these investments and do
more to start the country upon a
hundreds of thousands of men, who have been thrown new era
of prosperity than anything else that could
out of work simply because the railroads have been possibly
be done. And there is obviously a great deal
compelled to stop the purchase of necessary articles.
of force in this contention, though there seems little
One of the prime factors of the present depression, likelihood
that the roads will be allowed to make the
he asserted with much force, is the fact that the railproposed increase in rates.
roads have been obliged to stop buying things. The
New York Central system, comprising about 12,500
miles of railroad, in the most populous, the most pros- ITEMS ABOUT BANKS, BANKERS AND TRUST 00.'S.
—The public sales of bank stocks this week aggregated
perous section of the United States, during the first
three months of 1908 barely earned the interest on its 46 shares, of which 41 shares were sold at autcion and 5
shares at
bonds, notwithstanding that the gross earnings were company the Stock Exchange. The transactions in trust
stocks reach a total of 205 shares. Twenty-five
larger than they had ever been before in the first three shares of stock of the American Exchange National Bank
months of any year with the single exception of 1907.
were sold at 233, an advance of 14 points over the price
As to the tremendous new burdens which have been paid last month, when the last previous sale wLis made.
imposed upon the railroads in recent times, it is noted A sale of 10 shares of stock of the National Copper Bank
was made at 224 as against 195y
i in April.
that during the last eighteen months, by reason of inShares. BANKS—New York.
Low. High. Close. Last previous sate.
creased wages, enforced by the threat of a general 25 American Exch. Nat. Bank_ 233 233 233 May 1908— 219
Commerce, Nat. Bank of_ _ _ 171
171
171
June 1908— 170
strike, the pay-rolls of the railroads of the United •5
10 Copper Bank, National
224
224
224
April 1908— 19531
5153 5153 5153
States have been increased approximately $100,000,000 6 Lincoln National Bank
TRUST COMPANY—New York.
per annum. Becoming effective in the early months 175 Carnegie Trust Co
165
1654 165
June 1908— 165
160
160
160
First sale
of the present year, legislation restricting the hours of 30 Commercial Trust Co
labor of trainmen, enginemen, operators, signalmen, • Sold at the Stock Exchange.
—The New York Stock Exchange closed yesterday for
&c., has added approximately $25,000,000 annually
the day at one o'clock out of respect to the memory of
to this amount. By legislation passed by the last former President Cleveland,
who died on Wednesday. It
Congress and recent orders of the Postmaster General, had been the original intention to suspend business on
reducing compensation paid the railroads for handling the floor for one hour on the day of the funeral, but as the
United States mail, something like $10,500,000 per services were not held until after the closing hours of the
annum has been taken from the revenues of the rail- Exchange, it was decided to suspend the afternoon session.
The New York Produce and Consolidated Exchanges and
roads; and, within the last sixty days, the "Employ- the Boston, Philadelphia,
Pittsburgh and Chicago Stock
ers' Liability Act," which applies only to transporta- Exchanges also closed at one o'clock yesterday.
tion companies, has been passed. This removes the
—A petition to close the New York Stock Exchange on
last vestige of protection against personal-injury claims Friday next, July 3, was voted down by the Governing
on the- part of employees that was secured to the 'rail- Committee on Wednesday. Both the Cotton and Coffee
roads by the common law, and makes the railroads Exchanges will remain closed on Friday and Saturday
July 3 and 4.
liable to employees in cases of accident to an employee,
—According to a recent decision of the Appellate Division
even though the employee's carelessness was a con- of the
Supreme Court at Albany, shares of stock sold at
tributing factor, and will add enormously to the ex- a judicial sale by a referee appointed by the Court, in an
penses of the roads.
action to foreclose a mortgage, are taxable under the stock
Under the operation of this law, he well says, the transfer law of 1905. The decision was given in a suit
loss hitherto placed by the common law upon the in- against Henry W. Conklin, as referee, and the Security
dividual—the employee—is transferred to the em- Trust Co. of Rochester, and concerned the sale at auction,
by Mr. Conklin as referee, of 322,726 shares of the Rochester
ployer—therailroad—and it must have been understood, Telephone Co. for $250,000.
he argues, that the employer could not, under present
—The Whitman Savings Bank of Whitman, Mass., this
conditions, bear the additional burden. The only week opened a department for the issuance of life insurance
possible manner in which this burden can be,. placed and annuity policies under the provisions of the law passed
where it belongs, and 'where the framers of the bill at the 1907 session of the Massachusetts Legislature,
intended it should rest—"upon the whole community" permitting savings banks to operate departments of this
nature. George D. Alden, Treasurer of the bank, will
—is by an increase in rates by the carriers commensurate have charge
of the department, and will be guided and
with the new burden imposed. For the Governthent assisted by Robertson G. Hunter, State Actuary, and
to impose this additional expense upon the transporta- Dr. Horace D.Arnold, State Medical Director. The Boston
tion interests without permitting such increase in "Evening Transcript" states that this is the first bank to
rates would mean, he asserts, bankruptcy for many avail itself of the privileges accorded by the new law. We
recall that the People's Savings Bank of Brockton announced
railroads and great injustice for all.
its intention of establishing such a department as long
Such facts as these furnish adequate ground for the ago as last October,
although we have not since learned
further statement that the credit of the railroads has whether it was finally put in operation by that institution.
been seriously injured by the growing and well-founded The law became operative on November 1 1907, but it
conviction on the part of the investing public that, on was stated that the details incidental to the preparation
the present basis of cost of operation and compensa- of policies could not be completed before three months
thereafter at least. As a preliminary to securing a license,
tion for service rendered, the permanent payment of the banks are:raquired
to deposit a special expense guar-
JuNT: 27 1908.]
THE CHRONICLE
anty ,fund of not less than $5,000 in cash and a special
insurance guaranty.fund of not less:than $20,000 in cash.
—Schedules in bankruptcy of the Stock Exchange' house
of Coster,. Knapp & Co. of this city were filed on Tuesday..
They'include, it is said, the debts of both the firm and John
M. Knapp, the surviving partner. The firm liabilities,
as far as known, are $1,601,561, of which $152,765 are
secured. Its assets are nominally $1,038,988, consisting
of outstanding accounts, $851,576; stocks and bonds,
$110,500; New York Stock Exchange seat, $75,000 (subject
to claims of members), &c. The suspension of the firm
occurred on April 29, following the suicide of the senior
member, Charles Coster.
—The directors of the Mechanics' & Traders' Bank of this
city have ratified the several propositions incidental to the
reorganization of that institution. The plan to reduce the
capital from $2,000,000 to $1,000,000 has been approved,
as well as the 'agreement designating, Morgan J. O'Brien,
Edward M. Grout and William H. English as voting trustees.
These trustees have also been empowered to select new directors for the bank, and it is understood that they are now
engagecl in this task,and that Edward H.Grout has expressed
a willingness to become President when the reorganization
is perfected. It is also reported that arrangements for procuring the necessary funds in addition to the $2,000,000 now
on hand have been completed, subject to the approval of the
Banking Department, which, however, it is said, cannot take
the matter Under advisement until a sufficient number of
the depositors have signed the deferred payment agreement.
The assent of at least 90% of the depositors is required, and
the proceedings are being held up until the necessary number
is obtained.
—The Equitable Trust Co. of this city plans the opening
of a branch in the hotel district, having purchased the property at 618 Fifth Ave., near 50th St., with that object in
view. The company will erect a new building on the site,
using the ground floor for its branch office. The statement
just issued for June 17 1908, shows deposits to be $20,115,160 and aggregate resources $33,477,376.
—The Second National Bank of this city declared a
second quarterly dividend of 3% payable July 1. The
first quarterly payment was made in April last, previous
to which dividends had been semi-annual at the rate of
12% per annum.
—It is stated that Arthur King Wood, formerly VicePresident of the Van Norden Trust Company of this city
will become President of the Franklin Trust Company of
Brooklyn Borough, succeeding George H. Southard, who
resigned last month.
- —A second dividend of 25% was distributed to the
• depositors of the National Bank of North America of this
city this week. A similar payment was made last month.
The bank closed its doors in January.
—The rehabilitation of the various Brooklyn institutions
which were forced to close during the financial troubles
of last October was completed this week in the reopening
On Tuesday of the Brooklyn Bank. While it is true that
a number of Brooklyn branches of the Mechanics' & Traders'
Bank still remain closed pending the latter's reorganization,
that bank' is looked upon as a Manhattim, rather than a
'Brooklyn, institution. With its reopening, the Brooklyn
Bank was prepared to pay in full the demands of its depositors—partly through the aid of the Metropolitan Trust
Co., from which a loan of $600,000 was obtained. The
'total cash on hand, including this sum, is reported to be
in the neighborhood of $1,765,000, with about the same
amount of obligations. The bank has capital and surplus combined of between $650,000 and $700,000. The
International Trust Co:, which was organized last fall,
and whose affairs were more or less entangled with those
of the Brooklyn Bank, has been absorbed by the latter,
the bank, in consideration of the transfer to it of the assets
of the trust company, having agreed to pay its depositors.
The bank starts anew under the management of Daniel
0. Underhill, President; Nelson G. Ayres, Vice-President
and Cashier; and Willett G. Rendell, Assistant Cashier.
Mr. Underhill, the new President, comes from the Fourth
National Bank, where he was Assistant Cashier; Mr. Ayres
1565
was formerly Vide-President of the Oriental Bank. Of
the former members of the board, Ludwig Nissen is the
Only one -who continues on the directorate. S. Stanwood
- Menken, who was largely responsible for the reorganization,
isalso a member of the new board. An advisory committee,
consisting of Brayton Ives, James G. Cannon and Erskine
Hewitt, will direct the affairs of the bank, while the loan
from the Metropolitan Trust remains outstanding.
—The Borough Bank of Brooklyn Borough, which reopened on April ,14 on a deferred-payment basis, has decided
to anticipate the second installment due Aug. 14, and will
pay the same on July 1.- The plan provided for the payment of 10% with resumption, 15% in four months, 20% in
eight months,25% in one year and 30% in sixteen months.
—The old banking house of Edward B. Smith & Co., 511
Chestnut St., Philadelphia, will move about Sept. 1 to the
northeast corner office of the Girard Trust Co. at Broad
and Chestnut streets, when the latter moves into its magnificent new home on the opposite side of the street. We
understand that the rental to be paid for these corner offices
is the record price for Philadelphia real estate. This location stands at the head of the city's business and social activities, where many of the largest skyscrapers, hotels and
theatres are situated. The four corners of Broad and Chestnut streets are occupied by the Real Estate Trust Building,
in which the Franklin National Bank is quartered; the big
Land Title Trust Building, the new banking house of the
Girard Trust Co., and the present Girard Building, the
future offices of E. B. Smith & Co. These four corner sites
are considered by many the most advantageous business
locations in the city, because Broad and Chestnut form the
two leading thoroughfares, only a square or two from
Philadelphia's noted City Hall, the large Broad Street
Terminal Station of the Pennsylvania Railroad and the big
department stores on Market Street.
—Samuel N. Hynemann was appointed receiver of the
Lincoln Savings & Trust Co. of Philadelphia on the 18th
inst. The appointment' was made at the request of the
company's officers, owing, it is claimed, to its inability
to meet an overdue note of $57,000, without sacrificing
its assets. The action of the officers is to be contested by
the State Banking Department, which it is reported was
preparing to bring proceedings against the institution when
it was foretsalled by the company. The department this
week secured the appointment of ex-Mayor Charles F.
Warwick as receiverr
, and will ask for an order vacating Mr.
Hynemann's appointment. The institution was closed in
April of last year by the State Banking Department because
of an alleged impairment in its capital. It reopened in
July, after an assessment of $10 per share had been made
on the outstanding stock. The paid-in capital is $132,000,
the par value of the shares being $25 each. The first petition
for the receiver states that the company was originally incorporated in 1896 as the Contractors' Surety Title & Trust
Co.; the name was subsequently changed to the Contractors'
Title & Trust Co.,and finally to the Lincoln Savings & Trust.
In a statement under date of May 19 1908 the company reported deposits of $86,004 and trust funds of $54,666.
—The'stockholders of the International Savings & Trust
Co. of Pittsburgh,at a meeting on the 18th inst., unanimously decided to place the institution in voluntary liquidation.
Thedlpositors, it is stated, will be paid immediately.
The''ompany began business in 1903 with a capital of
$250,000 (in $25 shares) and surplus of $50,000. Some
months after its opening it took over the Public Trust Co.
of yittsburgh, which had been in operation about a year.
Action toward increasing the capital of the International
from $250,000 to $500,000 was taken at the time of the
consolidation, but the paid-in capital appears to have been
but $255,025. Its deposits on May 19 last were $114,718;
a surplus of $3,137 was reported on that date.
—A dividend of 50% has been paid to the depositors of
the failed Fort Pitt National Bank of Pittsburgh, the payment calling for the distribution of about $1,000,000. The
bank closed last December. L. 0. Murray is the receiver.
—The action of the directors of the Commercial Savings
& Trust Co. of Cleveland in transferring the assets of that
institution last month to the Citizens Savings & Trust Co.
THE CHRONICLE
1566
[VoL. Lxxxvi.
—The Merchants' National Bank (capital $100,000) and
the Citizens' National Bank (capital $200,000) of Cedar
Rapids have been united under the title of the first-named
institution. The consolidated institution has a capital of
$200,000, shareholders' liability of $200,000 and surplus
and profits of $220,000. The officers are J. T. Hamilton,
President; P. C. Frick and James E. Hamilton, Vice-Presidents; J. S. Broeksmit, Cashier, and E. H. Furrow, Assistant
Cashier. The board of directors is composed of representatives from each of the consolidating banks.
—An invitation to hold the next convention of the Nebraska Bankers' Association at Lincoln was acbepted at
the meeting of the executive council on the 10th inst. The
date was fixed as nearly as possible to that of the American
Bankers' Association meeting in Denver, which opens
Monday, September 28. The Nebraska Association will
convene Thursday •and. Friday, September 24 and 25.
This makes it possible to cover both meetings with one trip.
It is announced that the committee will be able to make
up a very attractive program because many notables attend
the National Association meeting and will be invited to
stop over at Lincoln. William B. Hughes of Omaha is
Secretary of the Nebraska Association.
—At a meeting on the 18th inst, the stockholders of the
American National Bank of Macon, Ga.,ratified a proposition
to increase the capital from $250,000 to $500.000. The new
stock is reported to be over-subscribed.
—At a meeting on the 18th inst., the stockholders of
the American National Bank of Macon, Ga., ratified a,
proposition to increase the capital from $250,000 to $500,000.
The new stock is reported to be oversubscribed.
—The National Bank of Commerce has been organized in
El Paso, Texas, with a capital of $200,000. The following
are the officers elected: J. H. Nations, President; John T.
McElroy and James M. Goggin, Vice-Presidents; W. L.
Tooley, Cashier, and T. M. Quebedeaux, Assistant Cashier.
—Arrangements are under way for changing the American Bank & Trust Co. of Houston, Tex., into the American
National Bank. Authority to make the change was revived from the Treasury Department on the 13th inst. The
institution at present has a capital of $100,000. With its
conversion, the amount will be increased to either $250,000
or $300,000. The new title will be adopted on July 1.
—Receiver James P. Edoff of the California Bank of
Oakland began the payment of a third dividend to the depositors of the institution on the 1st inst. The amount of
the distribution is 10%. The previous payments were,
respectively, 5 and 10%, making in all 25%. The institution suspended on Nov. 12.
—The Consolidated Bank of Los Angeles, a small institution with a reported capital of $25,000, was closed on the
4th inst. by order of the California State Bank Commissioners pending an examination of its affairs. Evan Lewis
is temporarily in charge of the institution.
—The annual meeting of the stockholders of the Imperial
Bank of Canada was held on May 27 at the head office,
Toronto. The report for the year ending April 30 1908
showed net profits for the twelve months, after the usual
deductions, including contributions to the Pension and Guarantee funds, and a special contribution of $25,000 to the
Pension Fund of $721,175. Out of this $535,524 was paid in
dividends, at the rate of 11% per annum; $36,053 credited
to bank premises and furniture account; a special fund of
$100,000 was set aside and applied in writing down the bank's
investments, and $49,598 was carried to profit and loss
account, increasing it to $475,915. During the year the
bank increased its paid-up capital from $4,773,949 to $4,965,758 and its "Rest Account" was increased to the same
amount through the premium of $191,809 received on the
new capital. The total assets of the institution are $43,-,
804,196. D. R. Wilkie is President and General Manager
E. Hay is Assistant General Manager.
—The Banque de St. Hyacinthe of St. Hyacinthe, Quebec,
closed its doors on Wednesday, the directors having decided on that day to suspend business. The bank's last
official statement showed a paid-in capital of $331,235
and total liabilities of $1,578,865. The Bank of Montreal
has completed arrangements for the opening of a branch
in the quarters of the closed institution. The Montreal
papers also state that the belief exists that the Bank of
Montreal and one or two other institutions have practically
guaranteed the amount on deposit in the St. Hyacinthe
bank.
—The purchase of the stock of the Manhattan Savings
Bank of Los Angeles by the Home Savings Bank of that city
was recently effected. While it is the intention to merge
the institutions in the near future, they are at present being
maintained separately. The Home Savings Bank has a
capital of $200,000 and the Manhattan Savings Bank a
capital of $50,000.
—Schedules of the assets and liabilities of the firm of
Inman & Co. of Augusta, Ga., for which a receiver was
appointed on May 4 last, were filed at Atlanta on the 15th
inst. The total liabilities are given as $1,842,217, of which
$794,589 are secured claims. The total assets are $1,405,080,
the largest item, amounting to $645,650,representing stock
in trade; other items are stock, negotiable bonds, &c.,
$260,252; debts due on open accounts, $123,444; unliquidated claims, $157,618; deposits of money in banks and
elsewhere, $127,715; bills, promissory notes and securities,
$80,345, &c. &c.
FALL RIVER MILL DIVIDENDS FOR FIRST HALF
OF 1908.
Thirty-two cotton-m an ufactu ring corporations located
in Fall River which furnish reports of operations have declared dividends during the second quarter of the year.
The total amount paid out is appreciably less than for
the corresponding period of 1907, but exhibits important
increases over the similar quarter of 1906, 1905, 1904 or
1903. The aggregate of the amolint distributed has been
$410,750, or an average of 1.66% on the capital. Four
mills declared smaller dividends than in 1907,. one passed itp
dividend and seventeen maintained last year's percentage. . In
1907 the amount paid out by thirty-two mills was $528,525,or
was approved by the stockholders of the first-named company on the 16th inst. According to the Cleveland "Leader"
the ratification was obtained only after it was brought out
'that through unfortunate loans, the surplus 'of the Commercial had been wiped out and the capital impaired. It
is said, however, that there was found to be a sufficient
amount necessary to meet the claims of depositors and
other creditors, and that further there would probably be,
through the liquidation, a partial repayment to the stockholders. It is reported that the disposal of the assets of
the Commercial had been preceded by the demand for additional security by its Clearing-House representative.
This c aim of the Clearing-House member was upheld by
a bankers' comaitteee, following an examination, and the
Commercial was called upon to raise $400,000 for the
purpose. As this, the "Leader" states, was deemed impossible, the offer of the Citizens' to pay $21,000 for the
good-will and assets of the Commercial and meet all claims
in full was accepted.
—The National City Bank of Chicago, of which David R.
Forgan is President, will make its first distribution to stockholders on July 1, the directors having declared a quarterly
dividend of 13/2%, payable to shareholders of record June 30.
The bank began business on Feb. 5 1907. It has a capital
of $1,500,000, surplus and profits of $457,207 and deposits
(May 14) of $8,563,155.
—A 10% dividend in liquidation is to be paid to the stockholders of the Federal National Bank of Chicago on July 1,
bringing the total payments up to 60%. The bank was in
operation from October 1905 until the fail of last year.
It had, when its property was taken over by the Assets Realization Co., a capital of $500,000 and a surplus of $50,000,
the subscription price of the stock having been $110 per share.
—According to a statement recently published, the largest
individual stockholders in Chicago banks are as follows:
8.750 shares
Wm. H. Mitchell
6.078 "
Norman W. Harris
8.090 "
Byron L. Smith
5,827 "
John C. Black
5,745 "
Fred. H. Rawson
3.225
J. Ogden Armour
2,800
Marshall Field Estate
Equitable Life Assurance Co., N. Y_2,490
2.475
E. G. Foreman
2,475
0. G. Foreman
2,354
S. W. Allerton
2,250
John A. Lynch
2,138
D. M. Cummings
2,013
Jas. B. Forgan
2,018
Mrs. Mary A. Blair
2,000
Chas. G. Dawes
1,927
John J. Mitchell
"
64
44
66
Illinois Trust & Savings.
Harris Trust & Savings.
Northern Trust.
Continental National.
Union Trust.
Contint ntal National.
Merchants' Loan & Trust
First
r ma
National.n
Foreman Bros.roBros. 133t;:
First National.
Nat. Bank of Republic.
First National.
First National.
Illinois Trust & Savings.
Central Trust of Illinois.
Illinois Trust & Sayings.
JUNE 27 1908.1
THE CHRONICLE
an average of 2.21%. In 1906 twenty-nine mills disbursed
8298,025,or 1.32% on the capital. In 1905 only nineteen mills
made distributions and the agregate was $166,750, or 0.78%.
In 1904 twenty-seven mills paid out$247,150,oran average of
1.15%. In 1903, thirty-two mills paid out an average of
1.42%; in 1902 the average rate was 2.14%. In 1901 the
average 'percentage 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%; in 1895 it was 1.58%,and in 1894 it reached
1.52%. The current year's rate has, therefore, been exceeded only three times in the last fourteen years.
Second Quarter.
1908 and 1907.
American Linen Co
Ancona Mills
Arkwright Mills
Barnard Mfg. Co
Border City Mfg. Co
Bourne Mills
Chace Mills
Conanicut Mills
Cornell Mills
Davis Mills
1)avol Mills
Flint Mills
Granite Mills
Hargraves Mills
King Philip Mills
Laurel Lake Mills
Mechanics' Mills
Merchants' Mfg. Co
Narragansett Mills
Osborn Mills
Parker Mills
Pocasset Mfg. Co
Richard Borden Mtg. Co
Sagamore Mfg. Co
Seaconnet Mills
Shove Mills
Stafford Mills
Stevens Mfg. Co
Tecumseh Mills
Troy Cot. & W. Mfg. Co.__
Union Cotton Mfg. Co
Wampanoag Mills
Weetamoe Mills
Total
Dividends 1908 Dividends 1907
%
Amount.
$
%
800,000 1%
300,000 al%
450,000 1%
495,000 2
1,000,000 1
1,000,000 13
1,200,000 2
300,000 1%
400,000 2
500,000 1%
500,000 13
580,000 2
1,000,000 2
800,000 13
1,500,000 15
600,000 3
750,000 1%
1,200,000 1%
400,000 2
750,000 1%
800,000 1%
1,200,000 lA
1,000,000 2
900,000 3
600,000 1%
550,000 13
1,000,000 1%
700,000 No
750,000 13
300,000 6
1,200,000 1%
750,000 1
500,000 1%
.
Z
.N:..,-.. ...-...w.......
t., ... ,.., i
!..4.4moo.-A.coco,00
0twoo.00roo4..ococ,
.bD4,
jobi4bWbbb-o-oWeetool.Wobbc,
1W
a
.000000.0QC,0000.900Q000100 1
0000010
00000.000000000.00000000000000000 1
Capital.
24,775,000 1.66
%
Inc.(+)
or
Amount. Dec.(-)
1%
12,000
al%
' 1,500
1%
6,750
1%
7,425 +2,475
1%
15,000 -5,000
1
10,000 +5,000
1%
18,000 +6,000
l;1,
4,500
2
8,000
1%
7,500
dl%
6,000 +1,500
2
11,600
2
20,000
1%
10,000
+2,000
1%
22,500
2
12,000
+6,000
I%
11,250
42
16,000
+2,000
2
8,000
1%
11,250
1%
10,000
+2,000
kl%
9,000
+9,000
40,000 -20,000
1/5
5
45,000 -18,000
No di vidend.
+9,000
1
5,500
+2,750
1
10,000
+5,000
1%
10,500 -10,500
1%
11,250
45
135,000 -117,000
1%
18,000
1
7,500
1%
7,500
410,750 2.21
528,525 --117,775
a On $100,000 preferred stock. d On capital of $400,000.
of $800,000. k On capital of $600,000.
h On capita
Combining the foregoing results with those of the first
quarter, we have the following exhibit for the haif-year. It
is seen that on a capitalization of $24,775,000 the mills have
paid out in dividends $972,300 in the first half of the present
year, or an average of 3.92%, against 4.70% in 1907, 3.26%
in 1906, 1.15% in 1905, 2.36% in 1904, 2.89% in 1903 and
3.57% in the like period of 1902. In 1901 the average
dividend was 3.16%, in 1900 it was 4.44% and in 1899 it
reached 2.19%.
Half-Years.
1908 and 1907.
Dividend-s 1908
Capita.
%
00000000000000
24,775,000 3.92
ASSETS.
LIABILITIES.
Trust Fund holdingsTrust Fund Liabilities$
Gold coin
825,730,80 00 Gold certificates
$825,730,869 00
Silver dollars
474,054,00 00 Sliver certificates
474,054,000 00
Sliver dollars of 1891L
5,070,001; 00 Treasury notes of 1890
5,070,000 00
Total trust fund__ _ - -1,304,854,86 I 00
General Fund holdingsGold coin and bullion- - _
21.662.30265
Gold certificates-- - - - 42.022,380 00
Silver certificates
17,385,51 t 00
Silver dollars
11,022,65' 00
Silver
-_
5,759,4611 61
United States notes- - - 11,488,742 00
Treasury notes of 1890
16,101 00
National bank notes
60,997,318 00
Fractional silver coin- _
22,155,410 78
Fractional currency- - - 84 74
Minor coin
2,869,088 83
Bonds and Interest paid_
37,736 87
Total trust liabilities_1.104,854.869 00
Gen Fund LiabilitiesNational bank 5% fund 24,372,794 42
Outstanding checks and
drafts
13,923,536 58
Disbursing officers' balances
73,221,119 04
Post Office Dept.acet _ _
6,311.288 00
Miscellaneous items-- 4,019,162 29
Tot. gen'l liabilities- -
121,847,900 33
Tot. In Sub-Treasles_ 195.416,801 48
In Nat. Bank Depositaries
Credit Treasurer of U.S. 154,049,500 75
Credit U. S. dis. officers 10,862,911 56
Total in banks
164,912,412 31
In Trans. of Philippine IslandsCredit Treasurer of U.S.
1,015,674 90
Cash balance and ReserveCredit U. S. die. officers
1,436.267 38 Total cash and reserve-- 390,933,255 74
Made up of•
Total in Philippines__
2,451,942 28 Available $240,933,255 74
and
Reserve Fund holdingsReserve FundGold coin and bullion- _ 150,000,000 00 Gold &bull _150,000,000 00
Grand total
1,817,636,025 07
Grand total
1 817.636,025 07
$
$
TREASURY CURRENCY HOLDINGS.-The following
3
24,000
compilation
,
based
on official Government statements, indi3,000
3
3
13,500
cates the currency holdings of the Treasury on the first of
3
14,850 +4,950
March,
April,
May
and June 1908. Statements of correspond11%
115,000 -90,000
2
20,000 +10,000 ing dates in previous years will be found in our issue of June 8
3
31,500 +16,500
1907,
page
1346.
3
9,000
TREASURY NET HOLDINGS.
4
16,000 +12,000
Mch. 1 '08. Apr. 1 '08. May 1 '08. June 1 '08
15,000
3
Holdings in Sub-Treasuries5
12,000 +3,000
$
$
$
$
210,382,518 204,492,080 193,772,017 213,684,683
4
23,200 +5,800 Net coin and gold bullion
silver
Net
coin and bullion
35,145.525 47,297,040 42,066.042 34,167,637
3%
35,000 +5,000
10,499
20,000 +4,000 Net United States Treasury notes
14,256
2%
12,735
16.364
Net legal-tender notes
3
9,627,701 13,167,707 10,449,437 11,488,742
45,000
30.955,156 40,581.561 49,767,343 60,997.318
4
18,000 +30,00 Net national bank notes
16,075,711 18,452,313 20.267,842 22,155.4/1
3
22,500 +3,750 Net fractional silver
2,028,050
2,837,885
2,794,437
26,000 +10,000 Minor coin, &c
2,906,910
33
3%
14,000 +2,000
Total cash in Sub-Treasuries- _304,225,160 326,842,842d319,129,853d345.416.802
2%
18,750 +3,750
Less
gold
reserve
fund
150,000,000 150,000,000 150,000,000 150,000,000
23.
20,000 +4,000
18,000 +18,000
3
Cash balance In Sub-Treasurles 154,225,160 176,842,842 169,129,853 195,416,802
7%
60,000 +35,000
in
Cash
national
banks
230,515,443 202,662,623 200,713,219 164,912,412
10
90,000 -18,000
2,996,970
3,766,421
No di vldend.
4,064,367
2,451,942
+18,000 Cash in Philippine Islands
2
+5,500
11.000
Net Cash in banks, Sub-Treas_387,737,573 383,569,832 373,209,493 362,781,156
2
20,000 +10,000
2%
19,250 -8,750 Deduct current Ilabilities_a_ - - - -118,891,769 120,961,641 121,612,506 121,847,900
22,500 +26,250
3
Available cash balance
51
268,845,804 262,608,191 251,596,987 240,933,256
153,000 -117,000
a "Chiefly disbursing officers' balances."
15%
186,000 -150,000
d Includes $5,759,470 silver bullion and $2,906,910 minor coin, &c , not included
2
15,000
2(
14,375
+3,125 In statement "Stock of Money."
000000,2.0000004p0
0004ogro
ogooqopop00000gyoo000goc000
eoccoccocOc.c cc
so.ocovoclo.
000.0.0
0000...0.
.o.c.
Total
$
800,000 3
300,000 3
450,000 3
495,000 4
1,000,000 25
1,000,000 3
1,200,000 4
300,000 3
400,000 7
500,000 3
500,000 3
580,000 5
1,000,000 4
800,000 3
1,500,000 3
600,000 8
750,000 3%
1,200,000 3
400,000 4
750,000 3
800,000 3
1,200,000 3
1,000,000 9%
900,000 8
600,000 3
550,000 3
1,000,000 3
700,000 1%
750,000 6%
300,000 12
1,200.000 3
750,000 2
500,000 3g
The foregoing figures show a gross debt on May 31 of $1,327,271,870 54 and a net debt (gross debt less net cash in
the Treasury) of $936,338,614 80.
TREASURY CASH AND DEMAND LIABILITIES.The cash holdings of the Government as the items stood
May 31 are set out in the following:
Amount. %
N
American Linen Co
Ancona Mills
Arkwright Mills
Barnard Mfg. Co
Border City Mfg. Co
Bourne Mills
Chace Mills
Conanicut Mills
Cornell Mills
Davis Mills
Davol Mills
Flint Mills
Granite Mills
Hargraves Mills
King Philip Mills
Laurel Lake Mills
Mechanics' Mills
Merchants' Mfg. Co
Narragansett Mills
Osborn Mills
Parker Mills
Pocasset Mfg. Co
Richard Borden Mfg. Co._ _
Sagamore Mfg. Co
Seaconnet Mills _
Shove Mills
Stafford Mills
Stevens Mfg. Co
Tecumseh Mills
Trey Cot. dc W. Mfg. Co.-Union Cotton Mfg. Co
Wampanoag Mills
Weetamoe Mills
Dividends 1906 Ine.(+)
or
Amount. Dec.(-)
1567
DEBT ON WHICH INTEREST HAS CEASED SINCE
MATURITYMay 3i.
Funded loan of 1891, continued at 2%, called May 18 April 30.
1900, interest ceased Aug. 18 1900
$32,000 00
$32,000 00
Funded loan 05 1891, matured Sept. 2 1891
24,500 00
24,60000
Loan of 1904, matured Feb. 2 1904
73,600 00
72,6001)0
Funded loan of 1907, matured July 2 1907
3,435,000 00
3,226,700 00
Refunding certificates, matured July 1 1907
18,470 00
18,380 00
Old debt matured at various dates prior to Jan. 1 1861
and other items of debt matured at various
dates
subsequent to Jan. 1 1861
917,125 26
917.125 26
Aggregate of debt on which interest has ceased since
maturity
$4,500,695 26 $4,291,305 26
DEBT BEARING NO INTEREST.
United States notes
$346,681,016 00
Old demand notes
53,282 50
National bank notes-Redemption account
_ 71.879,462 50
Fractional currency, less $8,375,934 estimated as lost or
destroyed- 6,862,814 28
Aggregate of debt bearing no interest
$425,476,57.5 28
RE CA_PlTULATION.
. Increase (-I-) or
ClassifkationMay 31 1908.
April 30 1908.
Decrease (-).
Interest-bearing debt
$897,503,990 00 $897,503,990 00
Debt interest ceased
4,291,305 26
4,500,695 26
-5209,390 00
Debt bearing no interest- - 425,476,575 28
424,759,537 78
+717,037 50
Total gross debt
$1,327,271,870 54 $1,326,764,223 04
+5507,647 50
Cash balance in Treasury*- 390,933,255 74
401,596,987 55 -10,663,731 81
•
Total net debt
$936,338,614 80 $925,167,235 49 +511,171.379 31
* Including $150,000,000 reserve fund.
972,300 4.70 1,125,425 -153,125
MonetarBiCommerciali.<7ng1is
•••••••••
DEBT STATEMENT MAY 311908.
(From our own correspondent.)
.The following statements of the public debt and Treasury
London, Saturday, June 13 1908.
cash holdings of the United States are made up from official
figures issued May 30 1908. For statement of April 30 1908,
There has been this week a good deal of selling from Berlin,
see issue of Mtzy 23 1908, page 1263; that of May 311907, see Paris and New York. The selling by Berlin is generally
June 8 1907, page 1345.
attributed to the meeting of King Edward with the Czar.
INTEREST-BEARING DEBT MAY 31 1908.
People in Germany have taken it into their heads that the
Amount Outstanding-- two monarchs are hostile to Germany,
Amount
and that, in fact, a
Interest
Issued.
Registered. Coupon.
Total.
triple alliance-Anglo-Russo-French-is being formed against
Payable.
Title of Loan$
$
$
$
Q 4 646,250,150 640,897,450 5,352,700 646,250,150 that Power. There
2s, Consols of 1933
the
not
is
slightest foundation for such
Is, Loan of 19084918---Q.-F. 198,792,660 40.213,540 23,731,920 63,945,460
Q.-F. 162,315,400 97,058,650 21,431,250 118,489,900 an opinion. The only object of King Edward is to main4s, Loan of 1925
2s, Panama Canal loan__ _Q.-N. 54.631,980 54,599,980
32,000 54,631,980 tain peace for as long a time as possible. It is not to be
3s, Certs. of Indebtedness_Mat. 15,436,500 14,186,500
14,186,500 forgotten that
the Berlin market is in a state to be easily
Aggregate int.-bearing debt.-1.077,426,690 846,956,120 50.547.870 897,503,990 made apprehensive. There is still a very large "bull" acNote.-Denominations of bonds are:
count being carried by the banks, and now that the halfOf $10, only refunding certificates; of $20, loan of 1908, coupon and registered.
Of $50, all issues except :is of 1908; of $100, all issues.
year is coming towards a close, and that the banks have to
Of $500, all except 5s of 1904, coupon; of $1,000, ail issues.
look forward to the making up of their accounts, it is reasonaOf $5,000, all reglatered 2s, 38 and 4s; of $10,000, all registered bonds.
Of $20,000, registered 4s, loan of 1907; of $50,000, registered 2s 01 1930.
ble to suppose that they desire to reduce the accounts they
[VOL. Lxxxvi.
THE CHRONICLE
1568
are carrying. It is possible, therefore, that they have put
pressure on their clients to sell, the more particularly, as
. there has been, during the last six weeks, a' great improvement in London, and the German banks might reasonably
conclude that their customers could sell on fairly' favorable
terms in London.
Whatever the explanation, there was large German.selling
which soon induced French selling, though not of equal magnitude, and it is ,said that there was alSo'Somc American
selling consequent upon the lowering of steel prices. The
selling came as a surprise upon the London market, and
caused a general decline in prices. Yesterday,'however,
there was some recovery, but not a full recovery to the opening prices of the week. Indeed, it is very unlikely that there
will be a full recovery as long as Continental selling continues. Meantime, opinion in the market here is as confident as ever: That there will be setbacks from time to time
nobody doubts; but that prices will go higher everybody ex'pects. Money is extraordinarily cheap and is likely to continue cheap all through the year. The worst of trade is
now believed to have been arrived at. People are looking
for some recovery. The intelligence received in London from
the great grain-growing districts is all favorable, and so is
the intelligence from Argentina. If there is a large growth
of wheat this year, everybody hopes that that will lead to
an improvement in trade and that thus the present depression
will not last very long. .
Regarding trade, the Board of Trade returns show that
the imports for May amounted to £44,271,217, a decrease
compared with the corresponding month of last year of
£8,344,418, or 15.9%. For the first five months of the year
the total imports amounted to £252,205,381, a decrease of
£28,355,830, or 10.1%. The exports of British and Irish
produce and manufactures during May amounted to £31,066,877, a decrease of £5,855,671, or 15.9%. For the first five
months the total value of the exports was £161,040,256, a,
decrease of £12,166,144, or 7.0%. The re-exports of foreign and colonial produce for the month of May amounted
to £6,431,654, a decrease of £2,020,112, or 23.7%. For
the five months they amounted to £33;267,019, a decrease
of £11,184,011, or 25.2%. It is to be borne in mind that
prices are, generally speaking, much lower now than they
were this time last year, and that a great deal, therefore, of
the apparent falling off in trade is really due to a decline in
price. Still, there is unquestionably a falling off in trade.
The general impression, however, is that the worst is passed,
and the rise that has taken place this week in copper strengthens the opinion. On the other hand, there has been a reduction in the prices of finished steel by the American steel manufacturers, which must not be lost sight of. Regarding the
immediate prospects of trade, the best opinion is that much
will depend upon the new harvests. If the yield of wheat is
very large, and, therefore, the price falls, the poorer classes
all the world over will have a larger surplus with which to
buy other things, and that will lead to a general improvement in business.
Money continues exceedingly abundant and cheap. For
the last couple of days there has been a slight stiffening of
rates because of the numerous new issues that are coming
out, but that is a mere passing phase. The new issues will
continue, and after a time the City will have -become accustomed to them. But money will remain cheap. It will become very cheap as soon as France begins to disburse the
vast accumulation of unemployed money it holds. At the
present time the Bank of France holds in gold alone £124,419,680.
No tenders were received on Wednesday for the 10 lacs of
bills and transfers offered by the India Council.
The following return shows the position of the Bank of
England,the Bank rate of discount, the price of consols, &c.,
compared with the last four years:
1908.
June 10.
29,019,600
Circulation
Public deposits_ _
9,760,004
44,328,825
Other deposits
Governtn't securities 15,007,531
29,427,994
Other securities
3teserve,notes&coin 27,424,035
Coin&bull.,both dep 37,993,635
Prop. reserve to liap. c.
bilities
503%
Bank rate
p. c.
23%
Consols, 24 p. c___
873%
Silver
243%d.
Clear.-house returns 176,629,000
1907.
June 12.
1906.
June 13.
28,835,465 28,633,740
9,050,109
9,774,486
42,577,162 42,741,064
15,084,520 15,977,133
30,538,822 29,125,443
24,628,266 24,584,186
35,003,731 34,767,926
1005.
June 14.
£
28,961,800
13,037,786
41,063,584
16,171,319
28,118,819
27,605,861
38,117,661
1904.
June 15.
28,047,830
8,197,694
39,599,756
16,687,806
24,091,617
24,846,247
34,444,077
473%
50 15-1ht, ., , 513%
47
4
4
883%
84 1-16
• , 90 3-16
903%
293%d.
27 1-16d,
30 13-16d.
253%d.
215,00,000 202,547,000 167,465,000 209,183,000
The rates for money,have been as follows:
Juno 12.
''
2%
June 5.
2%
Bank of England rate
Open Market rateBank bills-3 months_ _ _ 13%®i 9-16 11'l(4/1%
1% ®14
1% ©1%
-4 months
13%02
-6 months_..
•
2
2
Trade bills-3 months_
2®23%
-4 months_
23%
023%
Interest allowed for depositsBy joint-stock banks
1
1
By discount houses:
i
At call
1
7 t9 14 days
13%
13%
May 29,
2%,
%fay 22.
' 3
1 15-1602
28823%
24
2%
2%
1
1
13%
14
1%
13%
Messrs. Pixley & Abell write as follows under date of
June 11:
GOLD.-Paris was an eager competitor for the £500,000 gold which arrived this
week, and, with Berlin also in the market, the price advanced %d. to 77s. 103%d.
At this level the demand was soon satisfied, and it is difficult to find buyers even at
lower prices. Next week we expect £650,000 from the Cape and India. At the
Bank £11,000 in sovereigns has been received from Australia and £7,000 from
Portugal, while £30,000 has been withdrawn for South America. For the week:
Arrivals-Cape,£474,000; West Africa, £6,000; Central America, £9,000; Australia,
£11,000; Straits, £4,000; total, £504,000. Shipments-Bombay, £84,000. For
the month of May: Arrivals-Germany,£310,000; South Africa, £2,218,000; India,
£181,000: France, £11,000. Shipments-Germany, £87,000; India, £436,000;
Russia, £315,000; Vance, £3,417,000.
'
SILVER.-There has been,a roaterial Improvement in silver during this week,
and we quote 243%d., or %d. better than last week. The favorable influences hare
been the marked improretnent in the Hong- Kong exchange, the continuance of the
Indian demand, and some anxiety to cover on the part of shorts, who are frightened
by the improvement in the Indian trade position and by expectations of a favorable
Monsoon. The market closes 243%d. cash and 24 11-16d. for forward, with a steady
tone. The applications In India for remittances on London amounted to only £70,000 this week. There has been a further increase in the gold standard .reserve of
one crore of rupees. For the week: Arrivals-New York, £174,000. ShipmentsBombay,£111,600; Calcutta. £2,500; total, £114,100. For the month of May: Arrivals-Germany. £17,000; France, £11,000; U. S. A., £544,000. ShipmentsGermany, £28,000; France, £43,000; India, £630,000.
The quotations for bullion are reported as follows:
'June 11.
GOLD.
London Standard.
s. d.
Bar gold, fine, oz
77 103%
U. S. gold, oz
76 5
German gold coin, oz 76 5
French gold coln,pz
76 5
Japanese yen
76 5
June 4.
s. d.
77 103%
76 5
76 5
76 5
76 5
SILVER.
June 11.
London Standard,
d.
Bar silver, fine, oz_ _24%
" 2 mo. delivery_ _•_24 11-16
Cake silver, oz
26 9-16
Mexican dollars
nom.
June 4.
d.
243%
24 5-16
26 3-16
nom.
English Financial Markets-Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London.
Wed.
Thurs. Fri.
Mon. Tues.
Week ending June 26.
Sat.
25 3-16 253%
25
Silver ,per oz
d 25 1-16 25 3-16 253%
87 13-16 87 15-16
Consols, new,23% per cents-- 87%
87 0-16 873%
873%
87 9-16 87 13-16 8715-16
For account
_ 87 13-1687 11-16 87%
94.40 94.373%
French Rentes (in Paris)_ fr. 94.574 94.523% 94.673% 94.60
873%
g,
873%
Russian Imperial 4s
873%
---do
do New 5s
953%
953%
953%
673%
W73
Amalgamated Copper Co
67
683%
68
693%
83% •
.83%
bAnaconda Mining Co
85
83%
83%
%
83%
83 •
Atchison Top. & Santa Fe
83
823%
83
823%
833%,
953%
Preferred
96
953%
953%
954
953%
883%
873%
Baltimore & Ohio
883
%
883%
87
863%
86
86
Preferred
87
87
86
86 .
1643% •
Canadian Pacific
1643%
1633%
163
1633%
1633%
394
403%
304
Chesapeake & Ohio
414
443%
443%
64
64
Chicago Great Western- - -- _ 64
64
6
63%
Chicago Milw. & St. Paul-- _135%
136
1343%
36
%it]
13441
Denver & Rio Grande, corn_ 254
253%
254
254
253%
623%
Preferred
66
66
65
633%
633%
194
Erie. common
19
193%
193%
193%
193%
36
35
First preferred
353%
35
36
353%
24
Second preferred
234
234
244
244
233%
1304
Illinois Central
132
130
130
1324
133
1063%
Louisville & Nashville- - -- _105
104
105
105
1064
16
16
16
Mexican Central
164
153%
163%
27
27
274
28
Mo. Kansas & Texas, corn
273%
273%
62
62
604
604
Preferred
62
62
52
52
52
National RR. of Mexico-- - _ 52
52
513%
105
1043%
105
105
N. Y.Central & Hud.Itlyer_105
1053%
40
40
404
39
41
N. Y. Ontario & Western-- _ 413%
69
69
69
69
Norfolk & Western, corn70
70
80
80
81
81
Preferred
81
81
1384
1373%
1363%
1373%
139
Northern Pacific
_1384
.62
61%
613%
aPennsylvania
613%
613%
62
57
573%
564
563%
57g
aRelding Company
573%
42
413%
414
413%
aFirst Preferred
414
413%
42
42
42
42
aSecond Preferred
42
_ 42
163%
16 ,
163%
1614
174
Rock Island Company
' 18
864
87
• 87%
gni
853%
Southern Pacific
87
17
17
173%
17
Southern Railway, corn---- 173%
173%
444
44
443%
44
Preferred
464
464
1463%
1473%
1463%
1483%
1484
Union Pacific, common- ---J49
843%
843%
Preferred
844
373%
383%
MI
031
U. S. Steel Corp., corn
383%
1043%
1043%
1034
1033%
Preferred
104
1033%
113%
12
113%
113%
Wabash
12
114
233%
23
23
223%
24
Preferred
233%
543%
534
54
534
544
Extended 4s
55
95g95% -
-
1431
a Price per share. b £ Sterling.
Tommerciali and.nlisctitantons4ews
BANK NOTES-CHANGES IN TOTALS OF, AND IN
DEPOSITED BONDS, &c.-We give below tables which
show all the monthly changes in bank notes and in bonds
and legal tenders on deposit. The statement for May 1907
will be found.in our issue for June 8 1907, page 1348.
Bonds and Legal-Tenders
on Deposit for
Bank Circulation.
Circulation Afloat Under
1907-08.
May 29_ _ _ _
April 30--Mch. 31-- _ _
Feb. 29--_ _
Jan. 30- -Dec. 31- --Nov. 30---.
Oct. 31- _ _
Sept. 30- __ _
Aug. 31---July 31...
June 30- ___
Bonds.
LegalTenders.
629,031,160
628,839,430
632,422,570
636,426,660
646,828,820
646,783,000
618,394,310
566,994,910
559,629,760
559,319,710
558,582,550
558,442,910
73.735,370
72,220,323
67,573,019
63,215,807
53,483,098
46,670,996
46,062,188
47,252,852
47,885,785
47,110,434
48,372,596
48,217,80
Bonds.
624,714,147
625,425,375
b28,834,338
632,458,712
641,919,664
643,459,899
610,156,008
562,727,614
556,101,329
556,945,887
555,023,290
555,570,881
LegalTenders.
Total.
73,735,370
72,220,323
67,573,019
63,215,807
53,483,098
46,670,996
46,062,188
47,252,852
47,885,785
47,110,404
48,372,596
48,217,809
698,449,517
697,645,698
696,407,355
695,674,519
695,402,762
690,130,895
656,218,196
609,980,466
603,987,114
604,056,321
603,395,886
603,788,690
The following shows the amount of each class of bonds
held against national bank circulation and to secure public
moneys in national bank depositories on May 29.
U.S. Bonds Held May 29 to Secure
Bonds on Deposit
May 29 1908.
2 per cents Panama Canal
4 per cents 1895 due 1925
3 per cents 1908-1918
2 per cents Consols 1930
3 per cents Certificates of indebtedness
3.65s District of Columbia 1924
State, City and Railroad Bonds
Hawaiian Island Bonds
Philippine Loan
Porto Rico
Total on deposit May 29 1908
Bank
Public dep'sils
Total.
Circulation.
in Banks.
Held.
- --$
36,511,520
53,498,060
16,986,540
15,032,250
23,645,200
8,612,950
9,463,440
17,617,140
8353,700
553,837,450
48,825,400 602,662,850
14,186,500
14,186,500
2,651,000
2,651,000
88,459,375
88,459,375
2,004,000
2,004,000
8,893,000
8,893,000
770,000
770,000
629,031,160
185,355,965
814,387,125
JUNE 27 1908,]
THE CHRONICLE
The following shows the amount of national bank notes
afloat and the amount of legal-tender deposits May 1 and
June 1, and their increase or decrease during the month of
May.
National Bank Notes-Total AfloatAmount afloat May 1 1908
Amount issued during May
Amount retired during May
$697,645,698
$12,148,278
11,344,459
803,819
Amount of bank notes afloat June 1 1908
$698,449,517
Legal-Tauler NotesAmount on deposit to redeem national bank notes May 1 1008
$72.220,323
Amount deposited during May
$6,114,472
'
Amount of bank notes redeemable in May
4,599,425
1,515,047
Amount on deposit to redeem national bank notes June 1 1908
373,735,370
The portion of legal-tenders deposited (1) by banks becoming insolvent, (2) by banks going into voluntary liquidation and (3) by banks reducing or retiring their circulation,
was as follows on the first of each of the last five months:
March 1. I Apr1,1 1.
Feb. 1.
Legal-Tenders.
May 1.
June 1.
-Deposits by-$
I
$
654,194
Insolvent banks
879,2391
757,564
699,362
584,362
13,646,321 13,810,46013,768.799 13,630,564 13,788,706
Liquidating banks
Reducing under Act of
39,182,583 48.520,108153,046,656 57,890,397 59,362,302
1874*
53,483,098 63.215,807167,573.019 72,220,323 73,735,370
Total
1569
By Messrs. Adrian H. Muller & Son:
Stocks.
Stocks.
2 Journeay & Burnham
175 Carnegie Trust Co.
Co •
$10 each $1 lot.
$100 each
165-16534
2 Herring-Hall-Marvin •
8,750 San Gregorlo Mng. &
Safe Co., & $80 scrip__ 41 y,
By. Co. $1 each __$101 lot.•
• 1o H. C. & A. I. Plercy
6 Lincoln Nat. Bank__ 51534:
Contracting Co
10
10 Nat. Copper Bank__,. 224 14 Gt.West.Turnp. Road
Bonds.
$25 each
$1 per sh. $5,000 Cons. Indiana Coal Co.
100 W. A. Underhill Brick
1st 5s, 1935
904
.
Co., preferred_ _ _ _$480 lot.
4,000 Sloss Iron & Steel Co.
50 Empire Keystone ImGen. 434s, 1918
89
provement Co
$1 lot
5,000 U. S. Smelting Co. 1st
50 M. Zimmerman & Co.
6s, 1922
763
$1,200 lot. 6,000 Nor. Union Gas Co. of
185 Bklyn. City RR.10% gu.185
N.Y. 1st 5s, 1927.... 943
30 Commercial Trust Co. 160
1,000 Public Service Corp. of
5,000 Elrico Copper Mng. Co.
N. J. 5s, M & N
9534
$1 each
$20 lot. 2,000 United Telep. & Teleg.
25 Amer. Exch. Nat. Bk. 233
Co. 1st 5s, 1931
70 •
100 Carbon Steel Co. 2d pf
27
3,000 011 Fields of Mex. Co.
Cony. 65, 1917, J. & J. 65
DIVIDENDS.
The following shows all the dividends announced for the
future by all large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
When
Cent. Payable.
Books Closed.
Days Inclusive.
Railroads (Steam).
Allegheny & Western, guaranteed-- _ - _
July
3
1 Holders of rec. June 22
Atch. Topeka & Santa Fe, pref.(No. 0) 2% Aug. 1 Holders of roe. June30a
GOVERNMENT REVENUE AND EXPENDITURES.- Atlantic Coast Line RR
2% July. 10 June 23 to July 10
Belt
RR.
Stock
de
Yards,
Indianap.,
com_
July
3
Through the courtesy of the Secretary of the Treasury, we
Common (extra)
3
July
are enabled to place before our readers to-day the details of
Preferred (guar.)
1% July
Belt
By. of Chicago (guar.)
June 30
2
Government receipts and disbursements for the month of
Not closed.
Boston & Albany (guar.)
2% June 30 Holders of me. May 29
May. From previous returns we obtain the figures for Boston dr
Lowell
July
4
2 May 25 to May 30
previous months, and in that manner complete the statement Boston & Maine, tom.(guar.)(No. 171). 1% July 1 Holders of roe. June 6
Boston Revere Beach & Lynn
1 Holders of me. Junel5a
July
3
for the eleven months of the fiscalyears1907-08and 1906-07. • Canada
Southern_
1% Aug. 1 Holders of rec. June 30
For statement of May 1907 see issue of June 8 1907, page 1347. Carthage Watertown & Sackett's Harbor 2% June 30 Holders of rec.
June 23
Central RR. of New Jersey (guar.)- -- 2
Aug
1 Holders of rec. July 20
RECEIPTS AND DISBURSEMENTS (000s omitted).
Chicago & Alton, common
1
Aug. 15 Aug. 6 to Aug. 16
Prior lien and participating- stock
1
Aug. 15 Aug. 6 to Aug. 16
Preferred & prior lien & particip'g stk. 2
elTig6
July 15 July 4 to July 15
-1
C:
2Fr
Chicago & Eastern Illinois, pref. (guar.) 1% July
1 Holders of rec.
p1-1.1 ..g
Chicago Indianapolis & Louisville, corn- 1% June 30 Holders of rec. June 16
2n'ip
June 15
Pa
r
Preferred
2
June 30 Holders of roe. June 15
e.
P.
P
Chicago & North Western, common--_- - 334 July
1 Holders of rec. June 6
Preferred (quarterly)
July
1 Holders of rec. June 6
Chicago Rock Island & Pacific (guar.)._
1
July
1 Holders of rec. Junel6a
ff
Chicago dc Western Indiana (guar.).134 June 30
Not closed.
Clev. One. Chic. dr St. Louis, pf.(
-qu.) 1% July 20 Holders of rec. June 26
Delaware Lackawanna & Western (guar.). 234 July 20 Holders of
me. July 3
Delaware RR
1 Holders of rec. June 2
July
Denver & Rio Grande, preferred
•
2% July 15 dJune 23 to July 23
..b.,.. a
.-..-.
....
cm
......
...Db.,
Co
N.
Co
Des
Moines
&
Ft. Dodge, pref. (annual)
Aug. 1 Holders of rec. July 25
...b, 070 Co ,7-......-.0,...0 a w..w.c.c..c. b.) a.coa Co 4....,90
k.
Detroit & Mackinac. preferred
1 June 16 to July 1
234 July
Georgia RR. & Banking (guar.)
2% July 15 July 2 to July 14
22 24 .7. 't.8:2:2152:1E7,4
C,303000c
"o fg Co 821 8 63'88
Hocking Valley, common and preferred- - 2
July 13 Holders of roe. June 23
0
Interborough Rapid Transit (quar.)
wt.2 t.,,,...
y ..40070100:4.!....4..000 0 0.0 w 0700
234 July
1 June 16 to June 30
0:.
Kansas City Southern, pref. (quar.)- - - '
E,.. 1.34. Qo '07...1.:0110 *0 g,-4-0:.*...141., Q i..,-0.
)0 V.) Is)I.,1444
July 15 Holders of rec. June 30
A
Lake Shore & Michglan Southern
6
July 29 Holders of rec. June 30
,
1 825
_ 82 CO t2Ztit'r.88 8 Vt:2.fin. eltalt 2.'s' to*4Z ,1)
Lehigh Valley, common
2
July 11 Holders of roe. June 27
toto
.. to. 0 4.0 ...1,90c .
.s .000.0..4.0.0
Common (extra)
1
July 11 Holders of ree. June 27
k)
Ts. 17,W641.
Preferred
11,
5
July 11 Holders of roe. June 27
Z2 82 8 V 228et8`.2 Co 4882882 2 '03L°.8 8 MY:
Little Schuylkill Nay. RR. & Coal
•
3
July 14 June 20 to July 13
... ...-. 0
.
Louisville & Nashville
.
.0 4.4..4
.. 0
to.
,_,,.. p.a.,
2% Aug. 10 July 21 to Aug. 10
4.00.00.W
W
WW. 004. ...1
ct, 0001
Mahoning Coal, common
0
Aug. 1 Holders of rec. July 17
6
Preferred
2% July
1 Holders of rec. June 20
Maine Central (guar.)
2
July
1 Holders of rec. Junel6a
.
.A.
....
.
.. ..
..
Manhattan Ry., guar.(glar.)(No. 97)- .. w. o .o03.-4-40 w .03.7-opi...4 o
1% July
Co
1 June 13 to June 24
Michigan
Central
Vo "03 14-m'a-o4--41ni., la 'a-a Co'a0C0"c, a "oo-co;o 17. :;.1.2 14
3
July 29 Holders of rec. June 30
%
ire Hill & Schuylkill Haven
3
July 15 June 17 to July 14
ticcg .114 8 to'it gri5484 2 81=88.?, 2 '-'0'-' Co 5.10,370
Minneapolis & St. Louis, preferred
234 July 15 Holders of rec. June 30
4. .
0
.......... ts,ba -4
OP
tN)b.,
.
is5. 0 00.0..400
Co00..0p.030300030300.0
Mobile & Ohio
.
1% June 24 Holders of rec. June20a
b
'pto 1.4o, q), Wbot4:t.-.
.Bo 01.1,on i.,
"oo Woo
Morris & Essex, guaranteed
3% July
1 June 11 to June 24
al t2 4 tltSE:= Co 42484;N Z n°;:t 8 .25t,
N. Y. Central & Hudson River (quar.)
1% July 15 Holders of rec. June 23
New York dr Harlem, common and pre_ _
July
5
1
Holders of rec. June 15
NDW .0 .4 ..40 WY. w
Won* 700000 000 0 0i
0W
k
N. Y. Lack.& Western, guar.(quar.)--- 134 July
1 Holders of rec. Junel5a
N. Y. N. H. & Hartford (guar.)
m4.w.www
June 30 Holders of roe. June 15
w
..t....;
2t 42 4 SoTS582 ix .wo.o.t.,ck
...1 cnoo Cocp 300070
New York Ontario & Western
Aug. 3 July 10 to July 12
2
.. .-. ..
..I:. . .0
CS b..,4,
o.t.
Northern Central (No. 87)
4
N202 ow Co ..0c4,-.0-40 0 .00r.040,-. CO op.:-,
July 15 Holders of roe. June 30
vo.
w
hl
Northern Pacific (quarterly)
1% Aug. 1 July 11 to Aug. 2
Zo Boceo
4m0
C.4
?,.
,
Northern RR. of New Hampshire (quar.)
1% July
1 Holders of rec. June 8a
8 EN 8 4,28N84 8 8'"4r.822
g Fle..Y: g 88
Norwich de Worcester, pref. (guar.)
2
July
...
0!
1 June 14 to June 30
.
.
0....3.49., 4 .4..F00
s4. .
toe. 00 .
Pennsylvania Company
Apo
° A. ..
June 30 Holders of rec. June 20
3
Philadelphia Baltimore dr Washington
2
July
cd2
1 Holders of rec. June 10
118.8
- V:8-871'3811'4 il
4.E4 8
0700CS„.
Pills. Cinc. Chic. & St. Louts, common
Aug. 15 Holders of rec. Aug. 5
2
Preferred
2% July 15 Holders of rec. July 3
Pitts. Ft. Wayne &Chic.,reg., gu.,(qu.) 1% July
7 June 14 to July 7
Special guaranteed (guar.)
1% July
1 June 16 to July 1
Lt
4 .c, t.pcnbo
Reading Company, common
2
Aug. 1 Holders of rec. July 15
.
.
.
o
0
.,
First
preferred
2b Sept. 10 Holders of rec. Aug. 24
700 .0 W ..470.W...10 .1.. .W.A..COO '-4 .1,p, C.) 000
Rensselaer & Saratoga. guarantee& -- - 4
0.eW-1&.lo 'o W03be.;..;.1.;7- '
July
1 June 16 to July 1
6L, Wo Co 4qo'c4 ,
L
.
77-47-40.4.
:1
St. Louis & San Fran., 1st pref.(guar.). _
July
1 Holders of roe. June 16
K '4'.41
Mg t54 t; 8gC1=5
5F35
Chic. & East. Ill., corn. tr. Ws
July
1 June 17 to July 1
Chic. & E. ni. pref. tr. ctfs. (guar.)._
0!2'2T
July
1 June 17 to July 1
82 .Y.4 .----n -.
k8Ert.88g
s'22tr.,8t.,& N, .0
.0 gta.
K. C. Ft. S.& M.pt. tr. ctfs.(guar.).
..
July
1 June 17 to July 1
•Fol •-•-....
0
- -0014z.
*..-- Q outhern Pacific, corn.(guar.)(No. 7)- . 1% July
1
Preferred (No. 8)
3% July 15 July 1 to July 14
Southwestern of Georgia,
2% July
3 June 17 to July 5
IMMIGRATION INTO THE UNITED STATES.-The Texas
Central, preferred
2% July 15 July 4 to July 15
subjoinel statement, compiled from the monthly statements Union Pacific. common (quar.)
1 May 28 to June 16
234 July
RR.
York.
New
Valley
of
guaranteed
1 Holders of rec. Junel5a
234 July
issued by the Bureau of Immigration and Naturalization of Worcester Nashua de Rochester
July
3
1 June 21 to June 30
the Department of Commerce and Labor, shows the number
Street and Electric Railways.
American Cities By. & Lt., pref. (guar.) 134 July
1 June 21 to July 1
of immigrant aliens admitted into the United States during Aurora
raer
BrIgin&C.RR., corn. (quar.)_
1 June 23 to July 10
34 July
May and the eleven months of the, fiscal year 1907-08, and
Preferred (quar.)
-131 July • 1 June 23 to July 10
Electric
(guar.)_
Ey. de
1% July-1 June 21 to July 1
for purposes of comparison corresponding figures for 1906-07 Bangor
Boston & 'Worcester Elec. Cos., pref
$2 July
1 Holders of rec. June27a
and 1905-06 are appended:
Capital Tract., Washington, D. C. (guar.) 1% July
1 June 15 to June 30
From
1% June 30 June 9 to June 14
Austria.,ua
onY;0(q
com
itayytR
r.)mon (guar.)-Rgyo.,CD
C
eli
ttlyea
Russia de United
Other
1% July
All
1 June 21 to June 30
Hungary. Italy. Finland.Kingdom. Europe. Other.
MonthsPreferred (guar-)
1% July
1 June 21 to June 30
Total
21,813
19,477
July
8,479
23,971
14,962
1% July
8,430
1 June 21 to July 1
97,132 Cleveland Electric By. (guar.)
24,765
16,288
August
10,768
21,649
15.893
July
9,462 98.825 Columbus (Ga.) Electric Co.. pref.(No.4) 3
1 Holders of rec. June 20
20,629
19,316
September
19,324
12,972
17,206
2
July 15 July 1 to .....- _
9,247
98,694 Consolidated Traction of New Jersey
18,478
28,187
October
16,841
14,698
23,434
3
July 13 Holders of me. June 27
9,875 111,513 El Paso Electric Co., pref. (No. 12) _
18,572
31,166
November
25,213
8,777
22,919
10.829 117,476 Halifax Elec. Tram „Ltd.(guar.)(No.46) 1% July
2 June 20 to July 2
8,377
17,692
December
17,462
4,423
10,650
July
1 June 21 to July 1
7,970
66,574 Hest. Mantua & Fair., Phila., Pass., corn 2
2,833
Preferred
January
4,023
8,283
2,406
4,786
3
4,889
1 June 21 to July 1
July
27,220
3,592
February
Street
Holyoke
3,760
By
4,587
3,311
3,661
4
4,470
23,381
July
1
July 1
6,612
March
3,701
5.496
4,629
8,234
5,845
3
July
1 June 23 to June 30
32.517 Indianapolis Street RS
6,560
April
4,280
5,921
8,368
9,180
6,965
1 June 26 to June 30
41,274 Louisville & Nor. By. & Ltg., class A (4u.) 1% July
5,382
May
4,841
Class B (guar.) 3,88()
8,054
7,934
1
6,226
July
1 June 26 to June 30
36,317
Louisville Traction, common (quar.)1
July
1 June 10 to July 1
limos. 1907-08.164,857 125,487 150,509
87,577 138,285
84,208 750,923 Manila Elec. RR. & Lig. (guar.)
July
1
1 Holders of roe. June 20
37,973
May 1907
35,503
49.865
34,060
18.864
8,621 184,886 Memphis Si. By.. pref. (guar.)
131 June 30 June 23 to June 30
11 mos. 1906-07.300,781 244,087 226.831 101,887 180,050
76,979 1130,615 New Eng. Invest. & Secur.. preferred
July
2
1 Holders of me. June 20
May 1906
42,565
28,817
33,575
23,986
15,194
6,790 150,927 Portland Ry., Light & Pow., pref.(guar.) 1% July
1 Holders of roe. June 15
11 mos. 1905-06_242,995 236,582 186,771
92,755 147,604
76,373 983,080 Public Service Corp. of N. J. (guar.)- - - June 30 June 29 to June 30
1
Puget Sound Eke. By.. pref.(No. 5)- - _ - - 3
July
1 Holders of roe. June 23
Traction
1% July
1 June 21 to July 1
Auction Sales.-Among other securities the following, not Reading
Ridge Ave. Pass., Phila. (guar.).-..... $3 JUly
1 June 17 to July 1
regularly dealt in at the Board, were recently sold at auction: Rochester By.. Pref. (quar.)
1 Holders of roe. June 23
131 July
7.-.0-Aa of June 20 1874 and July 12 1882.
RI
gg
.;ge.o<F4A...0
r 715..94 [545.. K-01
wP,
OE
5
Egg
WEg'4
83
p
r3 sint
sg
,4
s.
7-' ....0
.Eg:g
.4.4, ;..1...._ letr
..,..
-.
.
-.....
.t...
--.
.
..
-.
...,.
.,,,, ...
...
-..
.
.
.....
- ---e. - • -.-., • • - is, •
E groegigE
ezmng
g
THE CHRONICLE
1570
Name of Company.
Street and Electric Railways(Continue d).
St. Joseph Ry., Light & Pow.. pref.(qu.)
.Sao Paulo Tramway Light & Power (quar.)
Seattle Electric Co.. corn. (No. 1)
Springfield (Ill.) Ry. & Light (quar.).. —
Stark Electric Co., Canton, Ohio
Syracuse Rapid Transit, pie!. (guar.).— _
Thirteenth & Fifteenth SM. Pass., Phila.' Special
..Toronto Rm. (Our.)
'TM-City Railway & Light, pref. (guar.)
'Twin City Rapid Transit, Minn., pf.(qu.)
Union Passenger Ry., Philadelphia_ - —
Union Traction, Philadelphia
United Electric Co. of New Jersey
'United Rys. of St. Louis, pref. (quar.)- 'United Traction & Elec., Providence (qu.)
Utica &. Mohawk Valley Ry., pref. (quar.)
-Washington Water Power, Spokane (qu.)
'West End St., Boston, preferred
West India Elec. Co., Ltd.(No. 2)- - - --West Philadelphia Passenger Ry
Banks.
Aetna National (guar.)
America. Bank of
Broadway. Brooklyn
Butchers' & Drovers' National
Century (guar.)
Chase National
• Chatham National (quar.) (No. 150)
Chemical National (hi-monthly)
Citizens' Central (guar.)
City. National, Brooklyn
Coal & Iron National (guar.)
Colonial
Columbia
Commerce, National Bank of (guar.)
East River National
First National (guar.)
Fourth National (quar.).
Ou'll,21d bin.ional (guar.)
German Exchange
Hanover National (guar.)
Importers' & Traders' National
Irving National Exchange (guar.)
Jefferson
Liberty National (guar.)
Manhattan Co., Bank of the (No. 204)
Manulacturers' National, Bklyn. (quar.)_
Market & Ftdlon National (guar.).Merchants' National (No. 210)
Mechanics'. Brooklyn
Mechanics' National (quar)
Merchants' Exchange National
Metropolitan (guar.)
Mutual
Nassau Nat., Brooklyn (guar.) (No. 92)
New York, Bank of, N.B. A.(No. 249)- New York County National (No. 112)—
Nineteenth Ward (guar.) (No. 28)- - - North Side. Brooklyn (No. 28)
Park. National (guar.)
People's (No.. 114)
Phenix National
Plaza
Prospect Park, Brooklyn
Seaboard National
Second National (guar.)
State
Union Exchange
West Side
Yorkville
Trust Companies.
Bankers (gnarl_
Bowling Green (guar.)
_
Brooklyn. Brooklyn (guar.)------ _
Central (quarterly)
Empire
Equitable .(quar.)
Fifth Avenue (guar.)
Viatbush, Brooklyn
Franklin, Brooklyn (guar.) (No. 72)---Fulton (No. 32)
calumny (quarterly)
Lawyers'Title Insurance & Trust
Long Island Loan & Tr., Bklyn. (quar.)
Manhattan
Extra
Mercantile (var.)
Extra
Metropolitan (guar.)(No. 46)
Morton (qIlu.)
New York (guar.)
st mdard
Title Guaranty & Trust (guar.)
Union (guar.)
United States
Van Norden (guar.) (No. 13)
Washington (guar.)
Extra
'Windsor
Fire Insurance.
Commonwealth
Miscellaneous.
Aeolian. AVeher Plano & Planola, pf.(qu.)
American Bank Nolo (guar.)
Amer. Beet Sugar, pf.(qu.)(No. 36)- Brake Shoe & Foundry, corn. (qu.)
prrel (guar.)
American Can. preferred (guar.)
Am. Car & Fdry., corn. (quar.) (No. 23)
Preferred (guar.) (No. 37)
American Caramel, preferred (quar.).American Cement (No. 18)
American Chicle, corn. (monthly)
Common (extm)
Preferred (guar.)
American Express.
Amer. Iron & Steel Mfg., corn. & pf.(qu.)
American Locomotive, common (quar.)-- Preferred (guar.)
American Pipe Mfg. (guar.)
American Radiator. common (quar.)- American Screw (guar.)
Am. Smelt. & Rfg., cum. (qu.) (No. 19)
Preferred (goar.) (No. 36)
American Snuff, common (guar.)
Preferred (guar.)
Amer. Sugar Ref., corn. & pref.(quar.)- Amer. Teleohone & Te:egraph (quar.)
American Tobacco, pref. (quar.).
American Tyne Founders, corn. (quar.)_ Preferred (guar.)
American Woolen, met.(oar.)(No. 37)
BaltimoreElectric Co., vref.
Bell Telephone of Canada (guar.)
Bell Telephone of Missouri (guar.)
Bell Telephone of Pennsylvania (guar.). —
Bliss, E. W.,corn.(mar.)(No. 63)
Tyeferrecl(quar.)(No' 63)
Canadian Gen. Elec., Ltd. corn. (guar.)
comoon..
Per
Cent.
1%
2%
2%
1
1%
$6
$1
1%
$5
2
13
7
3
1%
3
4
2%
.1%
7
23
10
6
2
3
8
2
3
10
4
10
2
5
5
6
3%
2%
3%
6
3
3
1%
4
3
7
20
3
3
4
3
10
3
6
3
5
6
8
4
6
15
4
3
3
4
2
2
3
3
3
5
5
6
8
5
4
12%
25
2
3
2
3
1%
1
Ix
1
1%
IN
A
1%
2
3
1
1A
3
lA
1Y,
1%
2
1 yi
1
1%
3
iyi
1%
2
1%
1
134
1%
2%
2
2
ni
2%
2
134
1 t-4
When
Payable'.
•
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
Arly
July
July
July
Books Closed.
Days Inclusive.
Name of Company.
[Var.. Lxxxvi.
When
Per
Cent. Payable.
Books Closed.
Days In,/ osi, .
Miscellaneous (Continued).
July 15 July 1 to July 15
1 Holders of rec. June 16 Central Coal & Coke, common (guar.).1% July 15 July 1 to July 15
Preferred (quarterly)
1 Holders of rec. June 22
1 Holders of rec. June 10
15 Holders of rec. July 1 Central Leather, preferred (quarterly)..
July
8 Holders of rec. June30a
July
1 Holders of rec. June24a Central & So. Amer. Telegraph (guar.)—
1
Holders of rec. June 11
2
July
Holders
of
rec.
Chic.
June.
Rys.&U.Stk.Yds.,
com.,(qu.)
June
25
1
1 Holders of rec. June 11
Preferred (guar.)
I Holders of rec. June23a
July
June 30 June 26 to June 30
Chicago Telephone (guar.)
1
1% July
1 Holders of rec. Junel5a
Columbus Gas & Fuel, pref. (guar.)
1
1 'Holders of rec. June 15 Columb. & Hock. Coal & Jr., pf. (quar.)
July
1 June 21 to July 1
1 Holders of rec. June 23 Commonwealth-Edison (guar.)
1% Aug. 1 June 19 to Aug. 2
1
1 Holders of rec. June 20 Corn Products Refining, pref. (quar.)- July 10 Holders of rec. June 30
1 Holders of rec. June 15 Cumb. Telep. & Teleg.(guar.)(No. 99)- July
1 June 20 to July 1
July 31 Holders of rec. Juiy10a
1 June 10 to June 30 Distillers' Securities Corp. (qu.) (No. 23)
July 10 Holders of rec. June30a
1 Holders of rec. June 30 Distilling Co. of America, pref. (guar.).- _
July
1 June 20 to July 1
10 June 26 to July 12 Dominion Coal. LW., corn. (guar.)
July
1 June 10 to July 1 Duluth Edison Elec., pref. (qu.)(No. 9)
1 Holders of rec. June25a
1
July
1 May 30 to June 15
'Eastman Kodak, common (quarterly)- July
1 [folders of roe. June 20 • Preferred (quarterly)
1 May 30 to June 15
1 Holders of rec. June 20a
I June 23 to July 1 Electric Boat, preferred (quar.).
July
July
1 Holders of rec. June 27
2 June 25 to July 1 Electric Storage Battery, COM. & pref. (qu.)
1 June 21 to July I
July
1 Holders of rec. June 15 Empire Steel & Iron, preferred
July
1 Holders of rec. June24a
Evansville Light Co., pre!. (guar.)
July
1 June 16 to July 1 General Chemical, pre/. (guar.).— _--- July
1 Holders of rec. June 25
July
1 June 20 to July I General Electric (quarterly)
July 15 Holders of rec. June 6a
July
1 June 24 to June 30 Granby Consol. Mining. Smelt. & Power
June 30 Holders of rec. June 12
1 June 16 to July 1
July
1 June 19 to July 1 Great Lakes Towing, pref. (guar.)
July
July
1 June 23 to June 30 Great Western Cereal, pref. (guar.).- - -June 30 June 28 to July 1
I [folders of rec. June 30 Guggenheim Explor. (guar.) (No. -July
1 June 13 to July 1
July
22)- 1 June 23 to June 30 Ingersoll-Rand, pref
July
1 Holders of rec. JulylOa
July
July
I June 26 to June 30 International Nickel, pref. (guar.)
Aug. 1 July 11 to Aug. 2
July
1 Holders of rec. June 26 International Paper. pref. (guar.).- -- July 15 Holders of rec. July 3a
July
1 June 24 to June 30 International Silver, pref. (guar.)
1 June 18 to July 1
July
July
1 Holders of rec. Junelda Mackay Companies. corn. & pref. (quar.)
1 Holders of rec. Junel3a
July
July
1 June 21 to June 30 Manning, Maxwell & Moore (quar.)- - - 1 Ilolders of rec. July 1
July
July
1 June 18 to June 30 Maryland Coal, met
2% June 30 June 16 to June 19
July
1 June 25 to July 1 Massachusetts Gas Companies, common_
Aug. 1 flolders of rec. July 11
1
1 June 24 to June 30 Massachusetts Lighting Cos_
July
July 15 Holders of rec. July 1
July
1 Holders of rec. June 30 Mergenthaler Linotype (guar.)
June 30 June 14 to June 30
1 June 24 to June 30 Mexican Telegraph (guar.)
July
July 15 Holders of rec. June30a
June 30 June 25 to June 30 Michigan Light, corn. (guar.)
July
1 Holders of rec. June20a
1
Preferred (guar.)
1 June 21 to June 30
July
July
1 fielders of rec. Junc20a.
July
1 June 21 to June 30 National Biscuit, corn. (quar.)(No 39)• 1% July 15 Holders of rec. June29a
July
1 June 20 to June 30 Nat. Enam. & Stamp., pref. (guar.). -July
1 June 11 to July 1
1 June 20 to July 1 National Lead, corn.(quar.)(No. 18)- --July
to June 16
1 June 13
134 July
1 June 21 to July 1 National Licorice, preferred (quar.)_- - - July
June 30 June 24 to June 30
1 Holders of rec. June 30 National Sugar Refining, pref. (guar.).- July
July
2 June 17 to July 1
July
1 June 27 to June 30 National Surety (guar.)
July
1 June 21 to July 1
1 June 26 to June 30 New York Mutual Gas Light
July
July 10 Holders of rec. June 27
3
July
1 June 24 to June 30 N Y. & N.J. Telephone (guar.)(No. 99)
July 15 Holders of rec. July 6
of
rec.
Holders
June
25
1
Nova Scotia Steel & Coal, Ltd., pref. (qu.) 2
July
July 15 July 1
to July 5
1 June 26 to June 30 Old Dominion Steamship (No. 65)
July
1 June 20 to July 1
July
3
July
1 Holders of rec. June 20 Otis Elevator. preferred (guar.)
July 15 [folders of roe. June 30
1 June 17 to June 30 Pacific CoastPower
July
July 16 [folders of rec. July 1
2
1 June 21 to June 30 Peoria Light, pref. (guar.)
July
1 Holders of rec. June24a
1;4 July
1 June 23 to June 30 Pittsburgh Plate Glass, common (guar.)
July
June 30 June 21 to • June 30
1 June 28 to June 30 Procter & Gamble, pref. (guar.)
July
July 15 Holders of rec. June30a
2
1 June 27 to June 30 Quaker Oats. common (quarterly)...... 1% July 15 Holders of rec. July 3
July
1 June 27 to July I
July
Common (extra)
3.5 July 15 Holders of rec. July 3
lune 30 Holders of rec. June20a Rhode Island Perk. Horseshoe, pref. (gu.) Ui July 15 Holders of rec. July 1
1 June 17 to July 1 Royal Baking Powder, common (quar.)- June 30 Holders of rec.June Ifa
, July
1 Holders of rec. June 19
July
Preferred (guar.)
112 June 30 Holders of rec.June 15a
1 Holders of rec. June 12
I June 26 to June 30 Safety Car Heating & Lighting (quar.).. 2
July
July
June 28 to
_
July
134 June 30 June 24 to June 30
St. Joseph Stock Yards (quar.)..
1 Holders of rec. Junel7a
July
1 June 23 to July 1 Sears, Roebuck & Co., pref.(guar.)
July
July 15 July 1 to July 15
July
1 June 28 to June 30 Securities Company
1 [folders of rec. June 25 Sloss-Sheffield Steel & Iron, pref. (guar.)
1 Holders of rec. Junel8a
July
July
1 June 24 to June 30 Standard Coupler, preferred-_
July
June 30 June 26 to June 30
1 June 13 to June 30 Standard Gas Light, N. Y., preferred- July
June 30 June 23 to June 30
3
1 Holders of rec. June 20
1 June 21 ,to June 30 Standard Screw, common and preferred- July
July
3
1 June 19 to July 1 Ste/son (J.B.), common
July
10 July 15 Holders of rec. July 9
July 15 Holders of rec. July 9
June 3 June 25 to July 1
Preferred
4
Streets Western Stable-car L., corn. (qu.)..
34 July 25 July 16 to July 26
hay
1 [folders of rec. June26a Street's IN est. stable-Car Line, preferred _
1 June 21 to July 1
3% July
1 June 27 to July 1 Swift & Co. (guar.) (No. 87)
6 Holders of rec.Junel3a
July
July
June 30 June 20 to July 15
June 30 Holders of rec. June 22 Tefft-Weller
pref. (guar.)(No. 28)—
1 Holders of rec. June 16 Texas & Pacific
June 30 June 21 to June 30
July
Co..Coal, corn. (guar.)
I [folders of rec. June 19
1 June 21 to June 30 Torrliagton Company, preferred- -July
3% July
July 15 Holders of rec. June 30
1 June 27 to June 30 Union Bag & Paper, pref.(guar.)(N
July
- 0.37) 1
July 10 July 1 to July 10
June 3 Holders of rec. June 29 Union Switch & Signal, corn. & pf. (qtr.) 3
1 June 17 to July I
July
1 June 21 to June 30 United Bank Note Corp., pref.(guar.)-- July
July 15 Holders of rec. June 26
1 Holders of rec. June 30 United Fruit (guar.) (No. 36)
2
July
July 15 Holders of rec. June 30
June 23 to June 30 United Gas Improvement (guar.)
2
July
3 Holders of rec. June 13
July
June 3 Holders of rec. June 30 United Shoe Machinery, common (guar.) 2
3 Holders of rec. June 13
July
June 16 to July 1
July
Preferred (guar.)
1 Holders of rec. June 20
I [folders of rec. June 20 United States Finishing, pf.(qu.)(No. 36) 1% July
July
1 Holders of rec. June 10
1 June 4 to July 1 United States Leather, preferred (quar.).
134 July
July
June 30 Holders of rec. June 25
10
1 June 4 to July I United Slates Mortgage & Trust
July
July 15 Holders of rec. July 1
June 30 June 24 to June 30 U.S.Smelt. Rely. & Mining. cont. (guar.)
July 15 Holders of rec. July 1
Preferred (guar.)
June 30 June 24 to June 30
34 June 30 June 11 to June 30
June 30 June 20 to June 30 U. S. Steel Corp., corn. (qu.) (No. 18)- 50c. July 15 June 24 to July 1
June 30 June 26 to June 30 Utah Consolidated Mining
1
734 July
June 30 Juno 25 to June 30 Yen Planck Estate, common
July
1
rune 30 June 25 to June 30
Preferred
July 15 July 1 to July 22
June 30 [folders of rec. June 22 Va.-Carolina Chem.. pref. (qu.)(No. 51) 2
July
1 Holders of rec. June 10
July 1 July 4 to July 9 Waltham Watch. common - --July 15 July 4 to July 15
I June 20 to June 30 Wells, Fargo & ('0........
July
5
June 21
34 July 15
June 30 Holders of rec. June 20 WesternUnion Teleg. (guar.)(No. 157)July
2% July 10 July 1 to July 10
1 June 25 to July 1
NVestinglmuse Air Brake (guar.)
1 Holders of rec. May 30
134 July
1 June 25 to July 1
fitly
While (J.0.) & Co., Inc., pref. (guar.).June 29
a Transfer books not closed. b Also dec oral 2% on 1st preferred, payable March
July
to July 5
1
10 1909 to holders of record Feb. 20 1909: 2% on 2d preferred, payable Nov. 10 1908
June 30 June 21 to July 1 to holders of record Oct. 23 1908, and 2% payable May 10 1909 to holders of record
June 30 Holders of rec. June 29 April 22 1909. d Payable to holders of record June 22 instead of June 26.
0 July
1 [folders of rec. June 20
- -June 30 June 16 to June 30
Imports and Exports for the Week.—The following are
June 30 June 16 to June 30
July
1 Holders of rec. Junel7a the imports at New York for the week ending June 20; also
July
1 June 5 to June 26 totals
since the beginning of the first week in January:
July
I June 5 to June 25
f ul y
1 June 12 to July 1
FOREIGN IMPORTS AT NEW YORK.
July 23 July 11 to July 23
July 20 July 16 to July 21
1907.
1906.
For week.
1908.
1905.
July 20 July 16 to July 21
July
1 June 26 to July 1 Dry Goods
$1,657,692 $3,011,834 $2,247,943 $2,000,519
July
1 Holders of rec. May 29 General
8.473„08 14,778,558 12,289.662
Merchandise-- - - 8,995,988
July
1 Holders of rec. June 20
xug. 26 Aug. 6 to Aug. 26
$10,130,800 $17,790,392 $14,537,605 $10,996,507
Total
July 21 July 7 to July 21
Since Jan.!.
July
1 Holders of rec. June 15
$58,874,215 $91,952,479 $78,641,557 $67,813,141
June 30 June 21 to June PO Dry Goods
230,109,217 344,500,590 289,766,660 277,527,210
June 30 June 21
to June 30 General Merchandise-July 15 June 27 to June 30
$288,983,432 $433,453,069 $368,408,217 $345,340,360
Total 25 weeks
1 June 13 to June 18
July
1 Holders of rec. June 15
July
1 Holders of rec. June 15
July
The following is a statement of the exports (exclusive of
2 June 3 to July 2
July
July 15 Holders of rec. June 39 specie) from the port of New York to foreign ports for the
1 Holders of rec. June 15
July
from Jan. 1 to date:
July 15 Holders of rec. July 10 week ending June 20 and
Orly 15 Holders of rec. July 10
EXPORTS FROM NEW YORK FOR THE WEEK.
5 June 26 to July 5
July
1 June 28 to July 1
July
July 15 Holders of rec. June 24
1907.
1908.
1006.
1905.
1 June 26 to June 30
July
July 15 July 4 to July 15 For the week
$11,533,436 $11,992,783 $12,687,068 $11,437,923
A June 26 to June 30 Previously reported
ful y
300,613,934 278,959,655 294,235,846 246.054,871
_
—
/ June 26 to June 30
i filly
-June 15 to June 30
July
$312,147,370 $290,952,438 $306,922,914 $257,492,794
Total 25 weeks
Holders of rec. Junel5a
filly
JUNE 27 1908.j
THE CHRONICLE
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Bxports.
Imports.
Geld.
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Total 1908
Total 1907
Total 1906
Since Jan. 1
Week.
Since Jan. 1
$2,520,412
22,598,379
3,843,000 18,716,000
290,000 1,223,790
1,500
3,800
616,475
9,735
$4,288 $3,436,802
983,747
299,151
15,785
117,192 3,265.926
272,542
53,932
98,745 1,386.641
89,114 1,753,764
$4,134,500 $45,688,591
6,172,038 18,985,358
11,000 5,601,922
$660,422 $11,115,207
61,163 5,844,426
104.387 44,812,965
Sliver
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$3,828
$417,870 $17,777,265
269,000 1,249,000
41,900
223,166
1,037
12,286
5,200
98,394
16,871
12,377
3,000
350
$687,907 $19,294,681
857,144 20,141.304
890,737 26,978,809
Total 1008
Total 1907
Total 1906
$42,229
52.665
78,429
118,609
570,599
395,371
281,018
$149,046 $1.538,920
996,279
58,171
75,535 1,187,961
1571
Note.-In the case of the Clearing-House banks, the deposits are "net" both for
the average and actual figures; in all other cases "gross" deposits are shown. The
Clearing-House actual figures included United States deposits amounting to $19,084,000, an increase of $766,700 over last week; averages included United States deposits of $19,253,700, a decrease of $578,700 from last week.
"Reserve on deposits" includes, fur both cruet companies and State banks, ant
only cash items but amounts due from reserve *dents, and in the case of trust companiee includes likewise municipal beads. State banks in New York City are required by law to carry a reserve amounting to 15% of deposits, while outside of
New York City only 10% is required, which reserve in both cases need not be more
than one-half in cash. Trust companies in Greater New York are required to keep
a reserve of 15%. of which only 5% need be in cash and 5% more may be in municipal bonds, while in the case of the trust emnpanies in the rest of the State the required reserve is 10%. of which only 3% need be in cash and 3% more may be in
municipal bonds.
The State Banking Department also furnishes the following report for State banks and trust companies outside of
Greater New York.
STATE BANKS & TRUST CO'S OUTSIDE OF GREATER NEW YORK.
Week ending June 20 1908.
%
Reserve. Res.
Deposits.
Loans.
State Banks
$78,326,600 $80,000,500 $15,321,200 19.6
--104,900
--244,900
--27,200
Trust Companies
21,200,700 17.1
117,640,200 125,867.400
-9,400
-79,000
-180,200
+Increase over last week. -Decrease from last week.
Reports of Non-Member Banks.-The following is the
were statement of condition
Of the above imports for the week in 1908, $
of the non-member banks for the
American silver coin. Of week ending June
American gold coin and $
20, based on average daily results:
the exports during the same time,$3,251,500 were American
We omU two ciphers (00) in all cases.
were American silver coin.
gold coin and $
Statement of New York City Clearing-House Banks.-The
Loans,
Deposit with
Legal
Disets
Tender
detailed statement below shows the condition of the New
CaptBatas.
Surand
Specie. and
Net
Other
ClearYork City Clearing-House banks for the week endingJune 20.
tat.
plus.
InvestBank
Banks. Deposits
fag
ments.
Notes. Agent.
ctc.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, however, a departure N. Y. City.
of
was made with the statement for Feb. 8, so that in addition Boroughs
Man.dcBrx
t
to the averages for the week the actual figures at the end of Wash. Hgts 100.0 185,0 941,0 16,8 56,0 120,6
895,2
Century _ - _
200.0
138,1 1,597,0
24,9 162,8
100,4 2-96E,9 1,844,2
the week are now given.
'
Banks.
Oes omiued.
We omit two ciphers (00) in cal cases.
Capital. Surplus.
Loans.
Average.
Specie
Average.
Legal:. Deposits, Reverage. Average. s've.
2,000,0 3,304,6 21,975,0 4,614,0 1,279,0 21,667,0 27.5
Bank of N. Y- Manhattan Co - 2,050.0 3,288,9 25,480,0 19,320.0 1,610,0 42,200,0 49.5
2,000,0 1,677,0 22,346,0 3,786,0 2,267,0 23,713,0 26.1
Merchants'...Mechanics' - --- 3,000,0 3,720.9 22.948,0 4.374,0 1,907,0 23,344,0 27.9
1,500,0 4,606,1 27,827,9 5,241,3 2,466,2 30,230.9 25.4
America
485,0
978,0
5,806,0 26.8
564,0
1,009,0
7,034,0
Phenix 25,000,0 24,648,8 188,373,6 73,014,8 5,071.0 210,465,4 37.7
City
30.891,3 26.6
3,000,0 5,674,8 30,828,3 6,162,7 2,019,1
Chemical
7,362,5 28.5
240,9
529,2
600,0
6,818,2 1,759,5
Merchants' Ex.
7,407,7 27.0
712,1
1,000,0 2.383,4
9,318,4 1,226,0
Gallatin2,489,9 29.4
74,7
144,1
300,0
2.051,8
Butch.& Drov.
658,4
6,347,5 27.0
250,0
740,4
500,0
Greenwich
5,717,4 1.468,4
Artier. Exch.- _
5,000,0 4.889,8 33,163,5 5,387,7 1,201,5 26,684,3 24.9
Commerce- -_- - 25,000,0 15,256,7 170,122.8 24,967,4 14,816,4 156,010,7 25.7
5,884.0 27.0
386,2
Mercantile ...- 3,000,0 2,491,0 10.159,1 1,119,1
3,769,0 33.2
3,612,6
820,4
Pacific --- 500,0
778,7
476.7
7,247,2 28.1
6,637,0 1,029,2 1,000,8
450,0 1,017,5
Chatham
200,4
1,558,1
464,1
66,6
2,239,7 37 6
775,2
People's
.6
0
0.
3,000,0 9,650,7 60,734,7 10,701,4 10,457,6 73.344,4 27
Hanover
2,550,0 1,282,3 20,187,7 4,903,2
325,2 10,759,5
Citizens' Cent- 366,4
500,0
4,461,0
Nassau
4,735,8 25.3
947,8
250,1
7,509,9 2,239,1
Market dr Ful'n. 1.000,0 1,576,9
8.575,2 34.4
871,1
2,000,0 1,090.3 11,266,6 2,993,4
Metropolitan - 125,4 11,644,4 26.7
Corn Exchange. 3,000,0 5,068,9 44,005,0 10,510,0 2,930,0 51,973.0 25.8
1,500,0 7,487,1 26,970,5 5,051,0 1,496,0 24,848,5 26.7
Imp.& Traders_
3,000,0 9,340,3 82,612.0 23,002,0 2,754,0 95,819,0 27.1
Park
111,8
250,0
1,246,2
141,7
314,2
East River- --1,438,7 31.8
3,000,0 3,390,3 22,458,0 3,812.0 2,428.0 23.117,0 27.4
Fourth
1,000,0 1,667,6
9,967,0 2,289,0
522,0 10,638,0 26.4
Second --_ _ _
10,000,0 20,857,2 110,878,2 35,696,2 1,913,4 116,021,0 33.1
First
Irving Nat.Ex. 2,000,0 1,290.0 17,787,5 3,355,0 1,329.3 18,472,0 25.7
2,324,7
61,0
772,7
250,0
3,341,0 22.6
Bowery -697,0
690,5
7,277,2 1,381.0
500,0 1,108,7
7.732,0 27.7
N. Y. County3,616,4
262,0
750,0
617,6
622,0
3,304,7 26.6
German-Amer
Chkse------ _- 5,000,0 5,019,5 78,730.0 18,321,4 4,166,1 88,958,5 25.6
100,0 1,987,4 12,128,8 2,405,1 1,244,5 13.431,3 27.1
Fifth Avenue-3,764.6
785,0
870,2
200,0
4,205,6 25.7
300,0
German Ex- - -4,812,9
5,538,9 24.6
933,4
200,0
750,1 .613,8
Germania - _
894,0 13,494.6 25.8
1.000,0 1,203,3 12,875,4 2,513,8
-Lincoln
6,786.0 27.9
6,810.0 1.609,0
216,0
1,000,0 1,239.1
Garfield
3,529,9 29.0
3,118,1 •
456,5
453,1
535,5
250,0
Fifth _
1,000,0 1.893,9 12,036,5 1,686,4 1.485,3 12,381,9 25.6
Metropolis -4.789,0 25.1
4,207,0
268.0
713.6
936,0
200,0
West Side
1,000,0 1,638,4 19,437,0 4,897,0 1,407,0 23,223,0 27.4
Seaboard
665.9 14,741,5 31.4
1,000,0 2,464.8 14.825,2 3.879,0
Liberty -----6,409,6 1.814,3
124,2
670,8
7,483,2 25.9
N.Y.Prod. Ex. 1,000,0
705,6 10,204.0 3,150,0
225,0 12.497.0 27.0
1,000,
State
520,5
4,596,2 26.2
4,164.8
366.1
1,000,0
685,4
14th Street-252,2 17,077,3 26.3
2,009,0 2,361,5 17.033.9 4,157,1
Copper Totals, Average 126,:350,0 164,430,2 1239,922,1 312.117,3 76,909,2 1321,258,5 29.8
-1242.809,2 14,197,5 78.910.3 1327,336,4 30.0
Actual figures .1 une 20
On the basis 0 averages circulation amountei to $57,615,700 and United States
deposits (included in deposits) to $19,253,700; actual figures June 20, circulation,
$57,464,400: Ui Red States deposits, $19,084.000.
The statements compiled by the State Banking Department, together with the totals for the Clearing-house banks,
both the averages for the week and the actual figures at the
end of the week, are shown in the following table. In the
figures for State banks and trust companies all of these institutions in Greater New York are included.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Week ending June 20 1908.
Reserve on P.C.
Loans and
Legal:.
Deposits.
Deposits. of R(00s omitted. Investments. Specie.
serve.
I
Clearing-110118e
Banks-Actual 1,242,809,2 314,197,5 78,910,3 1,327,336,4 393,107,8 30.04
+29,975,9
+12,095,4
+23,340.9 +8,783,6 +3.311,8
Clearing-House
Banks-Av'ge_1,289,922,1 312,117,3 76,909.2 1,321,258,5 389,026,5 29.87
+26.055,5 +10,649,8 +2,671,3 +32,002.1 +13,321.1
State Banks322,522,2
58,592,9 18,027.3
96,887,1 30.7
267,218,8
Average
+2,387,2
+956,8
-140,7 +3,052.2 -2,838,9
Trust Companies862,789,7
5,756,1
56,363.1
280.423,2 33.1
816,929,2
Average
+9,137.9 +2,871,1
+783.2 -151,6
+4.225,2
State Banks and
Trust Co's-not
959,087.2 308,113,3 32.8
61,008,2 12.184,0
n Clear.-House. 896,451,3
+8,422,8 +3,950,8
+3,901.1 +1,278,9 -253,5
+Increase over last week. -Decrease from last week.
a Includes bank notes. b After eliminating the item "Due from reserve depositories and other bahks and trust comnanies in New York City," deposits amount to
$762,401.400, an increase of $4,780,300 over last week's figures.
$
$
Colonial -100.0
489,2 4,115,7 311,8 147,9
405,3 581,2 5,038,2
Columbia- 300,0
452.3 4,841,0 543,0 479,0
861,0 100,0 6,244.0
Fidelity _- 200,0
169,4
954,5
49,0
143,5
29,1
854,8
Jefferson.- 500,0
669.6 3,145.8
28,4 201,4
252.3 151-.7 3,001,6
Mt. Morris_
250,0
257,2 2,000,0 245,2
724,8
27,8
84,2 2,925,5
Mutual - - -200,0
307,2 3,346.9
20,6 297,0
732,7
5,0 3,948,2
19th Ward_
300,0
468,5 4,639,0
57.1 349,9
139,3 270,0 4,953,3
Plaza
100,0
384,9 3,297.0 212,0 251,0 1,091,0
- 4.351,0
23d Ward
100,0
176,0 1,595,8 161,2
47,9
228,1
1.853,3
Union Ex
750,0
833,8 5,801.3 850,8 325,0
525,0 3
6,216,2
Yorkville - 385,0 3.344,1
100,0
49.1 677,5
380,1
4,345,0
Coal& I.Nat 500,0
675,5 4,364,0 741,0 217.0
455,0
35,0 4,590,0
NewNethi'd
208,5 1,358,0 138,0
200,0
17.0
114,0
15.0 1.285,0
Batt.Pk.Nat 200,0
136,0
911.8 128,2
55,5
86,2
828,3
Borough of
Brooklyn.
Broadway
150,0
379,6 2,315.6
15,5 405,1
367,7 367.6 3,151.9
Mfr's Nat- 252,0
751.3 5.587.2 883,0 182,0 1,275,5
80,2 6,950,7
Mechanics'. 1,000,0
767,4 9,110,8 236,5 1.357,3 1,684,8 114,4 12.415,7
Nassau Nat. 750,0
942,2 6,823.0 311,0 635,0
963,0
6,731,0
Nat, City
300,0
569,2 3.661,0 132.0 722,0
884,0 554.0 5,672,0
Jersey City.
First Nat- 400,0 1,225,0 4,185,9 194,7 327,3 3,429,1 695,0 7,311,6
I tud.Co.Nat 250,0
741,5 2,464,1
122,0
34,6
170.5 272,7 2,254,6
'third Nat200.0
356,7 1.638,0
57,3
673,4
97,4
45,2 2,146,6
Hoboken.
First Nat220,0
599.9 2,372,3 137,5
148,2 101,8 2,054,2
18,9
Second Nat, 125,0
210,3 1.953,2
71,2
55.6
135,1
110,0 2,131,7
-Tot June 20 7,747,0 12,479,3 86,364,0 5,737,8 7,177,0 16,090,6 4,177,0 103993,8
Tot.June 13 7,747,0 12,479,3 86,262,6 5,382,4 7,976,0 15,481,6 4,128,0 102713,8
Tot. June 6 7,747,0 12,479,3 86,369,2 5,100,9 6,863,2 13,748,7 4,553,t 101104,7
-00,
New York City, Boston and Philadelphia Banks.Below is a summary of the weekly totals of the ClearingHouse banks of New York City, Boston and Philadelphia.
The New York figures do not include results for non-member
banks.
We omit two ciphers in di these 'Wines.
Banks.
Capital
and
Surplus.
Loans.
Specie.
Legals
New York
May 23- 284,334,0 1219.047,9 312,055,4 68.660.8
May 29- 286,418.7 1215,118.5 298.720.8 70.627.4
June 6- - 286,418,7 1211,601,9 295,945.3 71,872,0
June 13- - 286,418,7 1213.866,6 391,467.5 74,237,9
June 20-- 290,784,2 1239.922.1 312.117.3 76.909.2
Boston,
May 20. 44,034,0 189,469.0 21,465.0 2,873.0
June 6- - 44,036,0 191.323,0 21,201.0 2,873,0
June 13
44,036.0 191,325,0 22,377,0 3.096,0
June 20_
44.036.0 190,329.0 23,723.0 3.130,0
Phila
May 29- _ 54,440,0 225,331,0
71.374.0
June 6_ 54,440,0 226.837.0
73.507,0
June 13- - 54.440,0 227,027.0
73,613,0
June 2054,440,0 228,024,0
75,236,0
Deposits a Circafuton
Clearings
1296,923,3 57,267,2
1285.788.8 57.150.4
1282,500,4 56.830.8
1289,256.4 46,634,4
1321.258.5 57.615.7
1,607,027,0
1,281,153,5
1,726.218,5
1,158,454,1
1,247,530.6
225,134,0
227,368,0
229,434,0
231,603,0
10.561.0
10,568,0
10.582,0
10,548,0
112.251.8
157.742,4
1' 2.629,7
121,437,1
264,145,0 17,132.0
268,596.0 17,020,0
268,450.0 16,601,0
271,516,0 16,398,0
88,554.2
134,754,6
103,357,1
108,010,0
a Including Government deposits, and for Boston and Philadelph a the item
"due to other banks." At New York. Government deposits amounted to $19,253,700 on June 20, against $19,832,400 on June 13; at Boston to $2.678,000 on June 20
and $2,666,000 on June 13.
al.1.1-1 WA:4u cl ;17tnnnctaL.
We shall be pleased to mail to institutions and investors copies
of the 4th edition of our special circular giving statistics covering
27 of the better class of Railroad and Industrial Stocks listed
upon the New York Stock Exchange.
Spencer Trask & Co
WILLIAM AND PINE STS. . . NEW YORK
Branch offices: Chicago. III., and Albany. N. Y.
MOFFAT & WHITE
Members
a NASSAU STREET.
New
York
Stock
Exchange.
HANOVER BANK BUILDING
DEALERS IN INVESTMENT SECUR ITIES
Commission Orders Executed for Cash Only
1572
THE CHRONICLE
[VoL. Lxxxvi.
The following were the rates for domestic exchange at
New York at the undermentioned cities to-day: Savannah
buying 50c. per $1,000'discount; -selling 75c. per $1,000
premium. Charleston selling $1. per $1,000 premium. New
Wall Street, Friday Night, June 26 1908.
The Money Market and Financial Situation.-Business Orleans bank 50c. per $1,000 discount; commercial 75c.
per $1,000 discount. Chicago 40c. per $1,000 premium.
in Wall Street has been so dull and uninteresting throughout St. Louis
70c. per $1,000 premium. San Francisco $1.25
the week that any correct review of the markets inustnee-' per $1,000 premium.
essarily be of a similar character. One feature of the
State and Railroad
-No sales of State bonds have
situation worth mentioning, and somewhat significant in been reported at theBonds.
Board this week.
the present state of inertia, is the fact that the supply of
The transactions in Union Pacific 4s, when issued, have
available stocks is limited,and any appreciable demand is greatly diminished, and therefore the market as a whole has
quickly responded to by an advance in prices. The present been much less active than last week.
Rock Island 4s and col. trust
waiting attitude of capitalists and investors will doubtless both for activity and weakness,in 5s have been conspicuous
sympathy with the shares.
continue until the growing crops are further developed, and They show a loss of 23
% and 63' points respectively. Norfolk
& Western cony. 4s have declined over 2 points and
until the result of the political campaign now entered upon
St. Louis & San Francisco ref. 4s 13
4. Other changes are
can be more clearly anticipated.
fractional and unimportant, but more are to a higher than
The demise of Ex-President Cleveland is an event of the a lower level.
week which is sincerely regretted in business circles all over
United States Bonds.-No sales of government bonds
the country and many of the Exchanges in prominent cities have
been reported at the board this week. The following
closed at noon to-clay out of respect to his Memory.
are the daily closing quotations; for yearly range see third
The foreign bank statements show a largely increased page following.
gold reserve at all the principal financial centres abroad;
that at ,Berlin amounting to about $19,000,000,and making
Interest June June June June June June
the German Bank's gold reserve the largest in its history.
Periods
20
24
22
23
25
26
The New York surplus reserve continues to• grow larger 2s, 1930 - - -- -----registered Q-Jan *1043, *104% *1048%
*104% *104% *104
week by week as a result of the unbroken business depression. 2s, 1930
coupon Q-Jan *105 *105 *1048% *,104% *104% *104%
3s, 1908-18------registered
Q--Feb *101 *101 *101 *101 *101 *100%
The open market rates for call loans at the Stock Exchange Is,
1908-18 - coupon Q-Feb *101 *101 *101 •*101 *101 *100%
during the week on stock and bond collaterals have ranged 3s. 1908-18- - --small coupon Q-Feb *1005 *100% *100% *100% *100M *100%
4s, 1925 -----registered Q-Feb *1218% *1218% *1218% *121% *121%
from 1% to 14%. To-day's rates on call were 16 13
4%. 4s,
*121y,
1925
coupon Q-Feb *1228% *1228% 41228% 8122% *122% *122K
Commercial paper quoted at 332% for endorsements and 2s, 1936.Panama Canal
coup Q-Nov
43/i
four months single names and
for choice good 4 to 6
* This Is the price bid at the morning board; no sale was made.
months unendorsed paper.
The Bank of England weekly statement on Thursday
Railroad and Miscellaneous Stocks.-As noted above,
showed an increase in bullion of £540,441, and the percentage of reserve to liabilities was 51.17, against 51.06 last week. the market for shares has been dull and almost featureless.
The rate of discount remains unchanged at 23/2% as fixed The general tone remained practically unchanged through
May 28.- The Bank of France shows an increase of 20,950,- the week until during the short session to-clay,when a little
firmness developed. As a result of the week's limited opera000 francs gold and 1,900,000 francs in silver.
The•New York Clearing-House banks in their statement of tions a list of 30 relatively active issues shows 17 higher,
averages for the week ending June 20 showed an increase of the advance being fractional in most cases; 10 are lower and
$13,321,100 in the reserve held and a surplus over the re- 3 are unchanged.
The Rock Island issues have been weak under urgent
quired reserve of $58,711,875, against a surplus of $53,391,selling,which was not explained, and which carried the com300 the previous week.
mon down over 2 points and the preferred 5%. Chesapeake
& Ohio fluctuated widely, covering a range of over 6 points,
1908.
1907.
1906.
and closed with a net loss of 33.
Averages for
Dinerences
Averages for Averages for
week ending
from
week ending week ending
On the other hand New York Central has nearly recovered
June 20.
previous week.
June 22.
June 23.
the dividend, which came off on Tuesday,and Louisville &
Nashville, St. Paul and Southern Pacific are a point or more
126,350,000
Capital
129,100,000 117,472,700
164,430.200
Surplus
161,720,600 149,236,400 higher than last week.
Loans and discounts- - _ 1,239,922,100 Inc. 26,055,5130 1,134,352,800 1.057.758,300
American Locomotive advanced nearly 5 points on the
Circulation -------- - - 57,615,700 Inc.
981,300
50,434,600
48,471,300
dividend rate will be continued.
1,321.258,500 Inc. 32,002,100 1,106.982,000 1,049,472,300 announcement that the old
Net deposits
Steel preferred is up over a point; other changes in the
19,253,700 Dec.
U. S. dep. (Incl. above)
578,700
31.734,900
15.489,700
312,117,300 Inc. 10,649,800 208,290,500 188,883,800 industrial list are fractional.
Specie
Legal tenders
76,909,200 Inc. 2,671,300
74,081,600
84,397,200
For daily volume of business see page 1582.
Reserve held
389,026,500 Inc. 13,321,100 282,372,100 273,281,000
The following sales have occurred this week of shares not
25% of deposits_
330,314,625 Inc. 8,000,525 276.745,500 262,368,075
represented in our detailed list on the pages which follow:
tankers'
Surplus reserve
Surplus excluding U.S.
deposits ------
aztitt.
58,711,875 Inc. 5,320,575
5,626,600
10,912,925
63,525,300 Inc. 5,175,900
13,560,325
14,785,350
Note.-The Clearing House now issues a statement weekly showing the total
of the actual figures on Saturday morning. These figures, together with the returns
of separate banks, also the summary Issued by the State Banking Department
showing .the condition of State banks and trust companies not reporting to the
Clearing Home, appear on the preceding page.
Foreign Exchange.-The market was irregular and generally lower this week, influenced by a good supply of bills
against securities and by a moderate demand; the tone
was firmer at the close.
To-day's (Friday's) nominal rates for foreign exchange
were 4 863/ for sixty day and 4 88 for sight. To,
clay's
(Friday's) actual rates for sterling exchange were 4 85706
4 8575 for long, 4 869564 87 for short and 4 872064 8730
for cables. Commercial on banks 4 853564 8545 and
documents for payment 4 84/0.4 853'. Cotton for payment 4 84 364 843
%. Cotton for acceptance 4
4 8545 and grain for payment 4 8564 853
.
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 173/
265 16%a for long and 5 15%a© 5 15%a©
/
3d for-short. Germany bankers marks were 95 1-16,
5 155
44695% for short. Amsterdara
95% for long and • 951
bankers' guilders were 40 24640 26 for short.
Exchange at Paris on London to-day 25fr. 123'c.;
week's range, 25fr. 14c. high and 25fr. 123'c. low.
The week's range for exchange rates follows:
sw@
II •
Long
Shor
Sterltng Actual04 87
14 8695
4 8570
04 8575
High
@48545
14 8685
Low
@48695
4 8535
Paris Bankers' lorancs11hth
45 16%a 15 155h 05 15%d
5 17%
Low
05 151%d
15 15%a
5 18%
05 17%
Germany Bankers' MarksHigh
95 1-16
095%
0 953
I 9534d
Low
943/,
0 94%I 953h
@ 955
Amsterdam Bankers' GuildersHigh
I -loy,
68 40 3-16
I4ow
68 40 26
I 40 24
Less: a 1-16 of 1%. d 1-32 Of 1%. h 3-32 of 1%.
Plus: k 1-16 of 1%. x 1-32 ot 1%. y 3-32 of 1%.
14 8720
14 87
1
1
1
1
1
1
04 8730
04 8710
STOCKS.
Sales
Week ending June 26. for
Week.
Range for Week.
Lowest
Highest.
Bethlehem Steel Corp_ - 650 13%June 20 13%June 25
Preferred ---- - _ _
500 42 June 25 44 June 26
Comstock Tunnel
4,600 30c. June 24 32c.June 25
General Chemical, pref.- 30 97 June 24 97 June 24
Homestake Mining_ - -100 76 June 25 76 June 25
Illinois Central rights-24,317 3 June 24 3M June 20
Kan & Mich trust rects10 36 June 23 36 June 23
NY &NJ Telephone_ 182 103 June 25 105 June 25
Ontario Silver Mining_ .
400 5%June 20 5%June 23
St L & S F-C & E Ill
new stock trust certs- 70 49 June 22 50 June 20
Vulcan DetinnIng
100 48%June 20 4%June 20
Range since Jan. 1
Lowest,
Highest.
12
27%
20c.
89
67
3
29
90
2
Jan 16%
Feb 44
Mch 44c.
May 99%
Jan 76
June 4%
Jan 42%
Feb 109
Jan 6
49
3
June 53
May
hIch 4% June
May
May
Apr
June
June
May
June
June
May
Outside Market.-The market for outside securities this
week was devoid of feature and trading was at an almost
complete standstill, with prices showing but slight changes.
The low-priced mining stocks appear to be the only issues
in which any interest is taken. Boston Consolidated Copper
moved up from 11 Xi to 11%. British Columbia Copper went
from 4% to 5 and back to 4%. Butte Coalition lost a point
to 213
%. Cumberland Ely weakened from 7% to 73'. Davis
Daly Estates advanced from 14 to 13
4, but sagged to 13/2.
Greene Cananea from 10% rose to 10%, but dropped finally
to 10. Nevada Consolidated Copper fluctuated between
11% and 11%. Nevada Utah sold down from 3 3-16 to 3.
United Copper common declined from 73-i to 63
%. Tonopah
Mining after fluctuating between 8% and 8 to-day moved
up to 8 13-16, closing at 8%. Goldfield Consolidated from
5 7-16 went down to 53 and up finally to 5%. Nipissing
sold between 7% and 73,-.g. Industrials showed marked inactivity, even the usually prominent specialties selling infrequently. Standard Oil sold at 600. A sale of American
Tobacco was reported to-day at 340. Chicago Subway lost a
point to 18%, but recovered all it lost. There appeared a
good demand for Allis-Chalmers 5s, the price running up
from 693/i to 71%. Tidewater 6% notes from 97% weakened
to 973,but finally sold up to 98.
Outside quotations will be found on page 1582.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
occui,Y
PA45m4
IN.: TWO
••••••.
STOCKh-HIGUEST AND LOWE81'SALE PRICES
Saturday
June 20
Monday
June 22
Tuesday
June 23
Wednesday
June 24
Thursday
June 25
srocKS
safes of
Friday
June 26
IV ea
Share4
NEW YORK 'STOCK
EXCHANGE
Range Since Jan. 1 1908.
On basis of 100-share tots
Lowest
Highest
Range for Praia= ,
Year (1907)
Lowest
Highest
Railroads
8078 8118 80
8138 11,250 A tch Topeka & Santa Fe 86 Feb 14 8478 May18
8118 7978 8014 7934 3033 8012 8118 81
6638Nov 10814 Jan
9312 9312 94
95
*93
94
700 13,
9314 *93
9312 93
93
93
- Do pref
J'ne26
8338 Feb 17
78 Nov 10153 Jan
*3512 87
1,100 Atlantic Coast Line RR- 6912 Mch 2 94 May19
*8812 90
8514 8412 8412 8478 85
x8514 8534 85
58 Nov 1334 Jan
8438 8538 8514 8614 8533 864 19,100 Daltimore & Ohio
8534 8614 844 86
8334 85
7612 Feb 10 9414 May18
7538Nov 122 Jan
*82
85 *82
86
*82
86
*82
*82
87
86
*81
87
Do pref
9412 Jan
80 Jan :s 87 J'ne lu
75 Nov
4612 47
4638 4618 47
14,855 Brooklyn Rapid Transit_
4558 4612 4538 4612 4478 4534 45
2634Nov
374 Feb 10 54 May19
8358 Jan
*_ ___ 65 *____ 65
65 *____ 65 *___ 65 *____ 65
Buffalo & Susaue, prof__
7412Nov
6434 Mch21 6434Men 21
8534 Feb
15934 15934 9,020 (lanadian Pacific
15914 15038 15712 160
15773 15834 15814 15914 160 • 160
140 Feb 17 16238 J'ne
138 Nov 19512 Jan
*61
63
§60
63
60
63
*60
*60
*60
184 k-lanada Southern
61
63
61
6512 Jan
52 Nov
54 Meh 4 6318 Mayll
*181 190 *181 190 *181 190 *181 190 *181 100 §181 181
10 Central of New Jersey... 160 Feb 11 188 May16 144 Nov 220 Jan
4318 433, 4014 43
3812 3812 3912 3938 40
29,976 Chesapeake de Ohio.....
3814 4114 37
56 Jan
2512 Feb 19 4652 May21 x2314 Nov
*25
261:
26
2613
1.400 Chicago & Alton RR
2678 2678 2514 26
2558
2614 2513 26
818Nov
10 Feb 13 27 J'ne19
2712 Jan
58
*54
*54
59
*56
158
58
58
23
68
Do pref
*53
5812 *53
47 Mch24 60 May b
48 Sep
69 Jan
*618 4;34
618 638 1,615 Chicago Great Western_ _
64 658
658
6
614 634
614 612
18 Jan
678Nov
34 Feb
84 Jan 3
50
*45
*45
50
*45
*45
50
*45
50
50
*45
50
Do 4% debentures- 3312 Aich19 50 Maylb
46 Dec
79 Feb
*1714 23
*17
20
23
*1714 23
*1714 23
200
2112 2112 20
Do 5% pref "A"..21 Dec
1513 Feb 15 31 Jan 6
711 Fab
*718 81
712 712 *7
814 *7
100
814 *7
314 *7
Do
4%
814
pref
5 Feb 11
84Dec
261, Jan
10 Jan 6
13134 1323_ 13058 13212 13012 13178 13034 13134 13134 13238 13214 13338 40,100 Chicago Milw & St Paul- _ 10312 Jan 2 140 May19
93t2Nov 15713 Jan
*150 1511, 150 150 *150 151 *148 150 *198 150
150 150
600
Do pref
138 Jan 3 157 May19 130 Nov 16512 Jan
*12134 ---- 4123 123 4123 124
124 124 *12134
127
Do cons ctfs 45% paid
9812 Jan 3 12978 May19 .85 Nov 141 Jan
14214 14214 14212 1431:
- - - *142 144
143 143 *14214 14414
400
Do pref ars 43% paid 1262's Jan 2 148 May18 111 Oct
149 Jan
14912 1E6- 14914 150 14812 14934 148 148 14838 149 14978 15014 2,540 Chicago 'Sc North
Western 135i3 Jan 2 160 May18 126 Oct
205 Jan
205 205 *200 210
200 200 *198 205 *198 200 *198 205
350
Do pref
4185 Jan 11 206 J'nc 25 185 Oct
Jan
234
*130 138 0130 135 *130 135 *130 135
13014 1311: *130 135
400 Chic St P Minn & Omaha 114 Feb 25 138 May19 106 Oct
170 Jan
*160 165 *160 165 *160 2165 3160 160 *160 165 *160 165
Do pref
14012 Jan 3 165 Maylb 13712Dec 165 Jan
*2
*3
3
4
*3
4
*3
4
313
318
3
34
200 Chic Un rac' ctfs stmpd
334
318 3 .
58 Apr 3
4 May18
1340ct
334 May
9
9
*9
10
121
*9
10
13
10
10
700
912 912
Do pref ctts stmpd__ _
4 Apr 10 1434 May13
8 Dec
17 J'1Y
51
*50
5012 5358 *5013 55
51 • *50
55
55
*50
55
300 Cleve Cln Chic & t,t L.._
4712 J'ne 17 ($'2 Jan 15 48 Nov
9278 Jan
90 *___ 95
90
*33
92° *:._ 95 *81
90
Do pre
8518 Feb 19 9512 May25
10812 Jan
86 Dec
3014 3013 3018 30
30
30
6018 39,, 2934 3038 '30
3018 3,900 Colorado de Southern--_
21 Feb 19 33 May14
387R Jan
17 Nov
571, *57
58
68
5814 5734 5734 57
1,185
Do 1st preferred
5734 5734 5712 58
5033 Jan '2 2034 Apr 23
41 Nov
691. Jan
4612 4714 48
48
f,,8
4734 481:
49 *46
4814 *4712 4812 1,000
Do 2d preferred
3934 Feb 19 5112 Apr 25
6812 Jan
2912Nov
157 157 *15612 160
*157 161
157 15738 157 157
156 161 *
500
14112 Feb 10 168 Jan 10 123580ct
& Hudson
22712 Jan
535 *- - _ 535 *__ 535 *500 535
*470 525 *480 630
afelaware Lack & West_ 420 Jan 6 540 May b 36912Oct
Jan
HO
25
325
*2312
25
*24
25
26
2512 *2312 25
*2312 25
135 Denver & Rio Grande_-_
1414 Feb 12.1 2734 May19
4278 Jan
16 Nov
6112 6112 *5612 6112 6078 6078 *57
6414 6412 *6112 63
62
510
Do pref
3914 Mch 2 70 Mayib
8378 Jan
53 Nov
40
*38
*3712 40
40
*38
40
*37
3834 3834 *39
40
30 Detroit United
3213 Apr 15 3814 Jan 8
3134Dec
801. Jan
13 *10
13 *11
*10
11
13 *11
*1112 14
1212
*11
Duluth So Shore & Atlan
6 Feb 11 1614 Apr 28
6l Oct
191. Jan
22 *18
22 *18
*19
22 *18
*19
22
22
22
*18
Do pref
1134 Feb 13 28 Apr 24
39 - Jan
10 Nov
1814 1858 1814 18343 1834 1914 19
1914 1838 19
19
1934 6,600
12 Mch 6 2334 J'ne 2
Jan
Nov
4414
:234
341:
*3314
3414
*3334 3434 *3312 35
*3412 3514 34
3514 3558
600
Do 1st prof
2438 Mch 4 44 May19
7578 Jan
28 Nov
2234 2234 *2212 24
*23
*2212 2412 24
2412 2234 24
24
500
Do 2d pref
16 Mch 6 3013 May19
67 Jan
20 Nov
129 130
12878 12912 12034 13014 130 131
12934 13078 1294 130
19,325 Great Northern prat
11334 Feb 10 13414 J'ne 2 107120ct
18934 Jan
5814 591: 5814 5912 5778 5812 58
5834 58
5814 5812 59
4,050
Iron Ore
85 Jan
37 Oct
. 4'2 Jan 2 6338 May18
Green Bay deproperties_71 Mch 19 7712 Apr 6
W,deb etfA
75 Oct
75 Oct
i1234 13-3-4 *1212 -1-i3-4
;i2
.54 1334
Do
8 Jan 14
1438 May22
iceb ctf B
ct
1412 Jan
40
3
5
*20
27
*20
27
*20
27
*22 "Yi
*20
27
*20
27
20 Mch24 23 May 6
avana Electric
Jan
24120et
47
7978 *70
7978 *78
7978 *73
H Do _pref
7978 *70
7978
-, *70
170 Jan 8 74 May2b
72 Apr
8612 Jan
8978 *79
*81
00
90
*79
*79
90
*7382
*79
90
82
100 Hocking Valley tr rects82 Feb 10 90 May14
Nov
63
114
Mch
*____
*___
90
90
90
*____ 88 *____ 88
__ 90
Do pref
69 Mch 19 85 May14
64 Nov
94 Jan
12578 12614 126 12612 12614 12714 127 12814 5,200 I llinols Central
12813 12858 *126 128
12213 Feb 17 142 May18 116 Nov 172 Jan
*1034 1112 1034 1078 1014 1012 1014 1012 *1038 1034 1034 1034 1,920 anterboro-Metropolitan
634 Jan 4 1212 J'ne I
3g Jan
4780ct
2858 2738 2878 2738 2734 *2714 2812 2712 2778 2812 2812 2,935
28
Do pref
174 Feb 19 3334 J'ne 2
14 Nov
7514 Jan
16
*16
17
117
416
17
*16
17
17
*16
*16
17
50 Iowa Central
10 Feb 19 19 May19
912N ov
2873 Jan
*32
34
35
34
35
*32
34
Do pref
35
*33
*32
*33
*32
2712 Feb 19 3638 Apr 27
29 Dec
51 Jan
*58
65
*58
65
*58
63
63 *58
VC Ft S de M. tr cts pref 5978 Feb 19 70 Jan 13
63
64
*55
*55
60 Oct
80 Jan
2412 *23
2313 2312 2312 2312 *23
24
2413
*23
300 -5-32-ansas City Southern-_
2412 *23
18 Feb 25 26 May13
30:4 Jan
18 Mch
56
456
5438 *5414 56
5438 *54
Do pref
*5412 56
$56
460
54
56
46 Feb 19 58 J'ne '2
6134 Jan
45 Mch
r aka Erie & Western.
19
18
*13
18
*13
1612
10
*13
*13
*13
1613 *13
12 Jan 4
1934 May16
2812 Jan
11 Nov
*3712 43 *36
Do prof
43
43
43 *35
*35
43
43 *36
*35
34 May 2 45 May12
6712 Apr
3934Nov
Long
40
40
40
*30
*30
40
*30
Island
*30
40
*30
40
*30
30 Feb 6 40 Apr 24
671, Jan
26 Dec
103 10334 101 102
102 10278 103 103
103 103
10414 10414 2,770 Louisville & Nashville
8714 Feb 19 113 May19
8512Nov 14513 Jan
*13:2' 138 *132 138 *132 138 4133 133 *132 138
120 Jan 4 13912 May16 1007sOct
135 135
115 Manhattan Elevated
146 Feb
*23
32 *23
31
32
25 *23
25
31
15 Feb 24 35 Apr 13
*23
*23
30
100 liaetropoiltan Street-23 Dec 107 Jan
*15
16
*1514 16
Mexican Central
*14
1412 Jan 2 2032 Jan 234
15 *14
15
*1514 1534 *1514 16
1234Nov
271s Jan
*1512 1612 1538 1558 1514 1514 1514 1514 15
1512 2,200
1412 May 1
Do Trust Co certfs
15
15
1718 May16
2712 271, 2714 2712 2714 2714 2634 2634 2513 2634 2612 2612 1200,
Minneapolis de St Louis.. 20 Mch 2 32 May14
.. .;laic
*65
*07
72
72
72
*65
604 0634 *63
61 Feb 29 6912 May16 x6212Dec
73
200Do pref
6613 6612
go Jan
109 10912 10878 10878 *108 110
109 109
110 110
108 108
810 Minn St P & S S Marie... 7914 Jan 2 115 May13
14014 Jan
60 Oct
*132 137 *131 137 *13214 137 *133 136 *133 137 *133 137
1231! Feb 11 13634 Mch25 110 Oct
Dopref
168 Jan"
2638 2658 2612 2718 27
271: 2612 27
27
27
1712 Men 2 3078 May19
2714 2714 5,500 Mo Kansas & Texas
2034Nov
4458 Mch
*5812 60
5812 5812 *56
61
*57
*5812 61
60
59
59
46 Feb 19 6358 May19
Do prof
300
7234 Jan
53 Nov
4614 47
4558 4634 4478 4614 4518 4678 10,650 Missouri Pacific
4614 47
47
47
2812 Feb 19 6412 May211
4418Dec
9234 Jan
*110 120 *110 120 *110 120 *110 120 *110 120 *110 120
Mash Chatt & St Louts. 9734 Jan 2 1144 Jan 14
97 Dec
147 Jan
...... -1-3 at of Mex, non-cum pf 4334 Jan 6 52 Mch 28
5938 Jan
3912Nov
*16
1814 *-_-_-_-_ 181
4
181: 742133- --181-4
Do 2d pref
17 May12 17 May12
13130ct
27 Feb
10278 10334 102 10234 x10034 101
10078 10112 10114 10112 10158 10214 7,120 N Y Central & Hudson.. 9018 Jan 2 10778 May19 x83 Dec
13434 Jan
*37
40
40
38
*37
401: 37
*37
*3612 40
40
*37
200N Y Chic & St Louis..._. 241. Jan 3 4112 J'ne 1
333l Jan
19340ct
*110
96
96
*90
92
92 *89
*88
*88
98
Do lst prat
98
*87
90 Jan 14 102 May12
85 Nov 110 Jan
*68
74
72 *66
75
*67
*65
*67
74
Do 2d pref
73 *67
74
60 Feb 8 75 May14
9134 Jan
41 Oct
*135 1381: *134 1381: *134 13812 *134 13811 *134 13813 *134 13812
N Y N Haven & Hartford 12838Jan 6 14114 May18 1273sNov 1119 Jan
39
40
38
37
40
3734 3834 39
3958 393,4 11,550 N Y Ontario 'Sc Western- 2918 Feb 19 4334 Mayll
3234 40
28 Oct
483s Jan
*67
67
69
*67
67
67
67
68
6634 67
1,400 Norfolk & Western
68
*67
58 Feb 19 7234 May16
9214 Jan
56 Oct
80
80
*70
*70
80
*75
*70
Do adjustment pref-__
80
80
*70
74 Mch24 81 Jan 9
9012 Jan
Oct
70
18 115-3-4 13338 136
13314 13414 133 13378 134 13434 13434 13578 56
15--1.
e
sn
ui
bs
P
15
0 Norstohe
5,
.9
17
11878Jan 2 13878 May19 100130ct
18912 Jan
122 1221: 12134 1221: 121 1215,8 12134 12212 12234 123
a
r;
le fireects
103 Feb 10 12512 May19
12312 124
911.Nov 134 Feb
*7712 80
*7712 80
*7712 80
*7712 80
*7512 80
Pacific Coast Co
80
*77
7112 Apr 2 9313 Jan 14
Nov
56
12418 Jan
*80 100
*80 100
*30 100
*8() 100
*80 100
Do 1st pref
*80 100
90 May28 90 May26
76 Nov
65 Nov
*80 100
*80 100
*80 100
*80 100
*80 100
Do 2d pref
*80 100
79 Mch27 97 Jan 13
125 Mali
85 Dec
1193
8
1203
11978
11912
8
121
12058 12078 11978
120 12034 12033 121
16,156 Pennsylvania
10834 Jan 2 12412 May19 x1.0312Nov 14133 Jan
75
74
72
*70
*70
72
74
*72
*70
75
*7() 75
100 Pittsb Cin Chic & St L
59 Jan 7 74 J'ne 4
78 Jan
51 Oct
97
95
95
*38
*88
*87
95
*87
*88 100
16
Do pref
§96
96
8118 Mch 3 98 J'ne 4
10512 Jan
69120ct
11178 11234 11018 11234 10934 11114 10958 11034 11058 11112 11114 11238 316,000 pp eading
9218 Feb 17 11914 May19
13918 Jan
70120ct
85
*82
85
85
85
*82
*82
*32
*8112 85
82
82
100 3-3, 1st prof
78 Jan 2 8712 May18
92 Jan
73 Oct
*8113 85
*8112 85
*8112 85
*8112 85
*8112 87
2d pref
*8112 8214
76 Jan 6 8612 May18
67 Nov
94 Jan
1513 16
1513 16
171: 1528 1634
17
1513 1618 1578 1614 10,763 Rock Island Company... 1012 Feb 3 1912 May14
1114 Nov
304
Jan
3034 2914 3038 284 30
3278 3358 2934 323
: 30
2912 3014 31,900
Do pref
2034 Feb :s 4053 May13
6412 Jan
2612Nov
49
46
501: 49
50
92
54
*50
*45
*43
50
47
875 St L & San Fr. 1st prof.. 42 J'ne24 6134 Jan 15
Jan
70
58
Oct
26
.25
271:
2511
24
2612
*2712 29
2112 23
23
3,910
22
Do 2d pref
1914 Feb 19 34 May14
4838 Jan
24 Nov
1612 *1434 1614 *1512 1612 *1512 1612 *15
*16
St Louis Southwestern... 10 Mch 7 1778 May18
1614 *1512 1612
12 Nov
2513 Jan
39
*361. 39
39
*36
*37
*36
39
39
*36
39
*36
Doprat
'2412 Feb 19 41 May18
25 Nov
6213 Feb
8478 8531 854 86
8534 8658 8614 8714 35,510 Southern Pacific Co
; 8612 8478 87
857
9614 Jan
6614 Feb 17 8934 May19
63'i Oct
11912 11912 11912 11912 11913 11934 11912 11912 1,310
*119 12012 119 119
Do pref
10633Jan 2 12512 May13 100 Oct
1184 Jan
1714 1658 1658 1212 1234 1613 1612 1658 1634 1678 1714 2,620 Southern v tr cfs stamped
17
91s Jan 10 1913 May19
34 Jan
10 Nov
43
4412 4213 4314 43
45
45
43
4318 4312 4334 44
1,600
Do pref
251. Mch 5 48 J'ne 1
do
9412 Jan
2912Nov
23
2258 *21
22
24
*22
24
*22
2134 22
2178 2234
1,500 rrexas & Pacific
1234 Feb 29 26 May20
Jan
1712Nov
28
2938 2936 328
*3012 311: 2912 3034
*29
*29
31
31
1,510
hird Avenne (N Y)-1512 Mch 23 39 Apr 13
16 Nov 123 Jan
*912 1112 *912 111: *912 131: *912 13
*912 14
10
10
100 Toledo Railways de Light
878 Apr 9 1514 May 2
Jan
Dec
9
29
1934 1934 1912 191: 1914 1914 1K-2, 1938
_
1914 1914
500 Toledo St L & Western _ _
12 Feb 6 21 May18
1634Dec
3334 Jan
4418 4334 44
4412 4458 4414 4458 44
44
4418 4414 4438 1,500
Do pref
33 Feb 3 46 May15
2934 Nov
5478
Apr
*85
90
*88
*88
891: 389
89
89
89
89
§8778 88
160 Twin City Rapid Transit. 7814 Feb 7 9214 May19
6834Nov 10812 Jan
14438 146
14238 1451: 14178 14358 142 14314 14314 14458 14412 14554 404,875 unto!). Nellic
11012 Mch 2 15113 May19 100 Oct
183 Jan
8213 8218 *82
*32
83
83
*82
83
*82
83
*8214 83
Do prat_ _..... 'i914 Apr 2 3515 May22
200
71 Aug
96 May
*2112 23
*21
*21
*2134 23
23
23 *21
22
2218 2218
100 Unit itys Inv't,of San Fr_
15 Jan 24 2413 Apr 28 , 1018Nov
62 Jan
3812 :38!- *38
40
301f
*38 . 40
*38
*38
39
40
*38
200
Do pitf."
2712 Jan 22 43 Apr-25
Ills Jan
20 Nov
113
1134
111111,
ii
*111. 12
MA 111
11
*1114 12
one Wabash
634 Mrh 3 1414 Mav21
34 net
181, Jan
neinvitirc
Erle
..,..,............--..i., . ,,_.., 1
1.....4.......
...=cccocc..
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS.
Ask
Ask
Bid
Ask
Bid
Banks
Ask
Bid
Bid
Ask
Banks
Banks
Ask
Bid
Banks
Hanover __ 475 485
Metropolis : 375-. - Oriental
-- 423 Fifth javel_ 3800
New York
Chemical __ 400
_. Imp & Trad 525
etropn
100
e
M
535
165- Pacific 11-9--- 23-0 2-50
Aetna
Fifth
Citizens' Cti 14712
300 350 Irving N Ex 173
113,/
Mt Morris _ 200
- . Park
405 415
g.2-5 City
Am.erlea 11.285 290 First ....,
675
- Jefferson 9 .. 170
180
Mutual 11- 295 30-5- People's 1_ _ 300
Amer Exch_
--. Coal & Iron 21212 -- 14th St 9 - 175
185 Liberty__ 435
465 Nassau 11_- 195
205 Phenix _ '
1471: 1-55 Battery Pk.
1-25 Colonial 1- 700
--.- Fourth
185
_._ Lincoln _ 151512
___ New AmstPI
---575
Bowery 'Y ...
335 Columbia l. 400 500 Gallatin
315
Manhattnn9 280
3-25
2-90 New Neth'd - 210 Prod Exc-h a 150
---BronxBora
---- Garfield_ 325 Mark% &Ful 240
- Commerce - 1171
NewYorkCc
55-00
--- - Riverside 9- 200
--Butch & Dr
120 Germ Am T 12
1-55 Consol't'd
115
Mechanles'.. 245
135
250
New York _ 290 PIO Seaboard
340
350 Century II
185 Copper ..,_, - _ 1221
- Germ'n ET 475
Mech &Tra 11
500
_. ---. N'ht &Dog 270
285 Second ___ _ 6350
_.
Chase
_ 3-2-5 Germania 11 500
. Corn Ex V
_ _ Mercantile. 1-2-5
___ 19th Ward I ---- 500 State 1L.... 250
._
Chatham .,,
3-0-5- East River_ 1-3-5
145 Greenwich 11 250 2-4 Merch Exch 165
1-70 North Amei
_ 12th Ward
_ 3-00ChelseaEx 1
Hamilton 9_ _-__ __ Merchants'. 150
--_. Fidelity 11_ 165 175
-_- Northern __ 1-5-2-l: 1163 23d Ward 11 1-90
* Bid and asked prices. no sales were made on thls day. I Ea-r ghts. 4 Less tnan 100 shares II State banks a Ex-dlvidend anU r g ts. 0 New sloe
3 Sale at Stock Exchange or at auction this week 3 1st instal In't paid. n Sold at private sale at this price.
Banks
Banks
1. 7::
New York Stock Record-Concluded-Page 2
1574
SEMK5-H1GHteS7'
Saturday
June 20.
*2314
*878
•*6
*13
*7
*1612
*38'2,
hiondati
June 22.
2373 2214
1112 1 *878
712 *6
*13
16
*7
9
1613
17
3812
40
2278
11
7
16
9
1612
381.
PitiGeS
Tuesday
June 23.
2131
* 878
*6
*13
*7
*1572
*35
Wednesday
June 24.
2212 22
912
0
7
*6
16
13
*7
9
17
15
*35
40
2313
9
7
13
0
15
40
Thursday
June 25
..12214
*8
;
812
*13
16
*7
9
*1514 17
*35
40
.J444e4
Friday
June 26
2234
*8
33
*13
*7
*1538
*35
2278
10
6
16
9
18
3918
ol
Week
Stocks
STOCKS
NEW YORK STOCK
EXCHANGE
[VOL. Lxxxvi.
ham, .
Jan. 1 1038
on brute 01 100-share toss
Lowest
1,900 Wabash met
100 Western Marylai.d
100 wheeling & Lake Eue.....
150
Do 131 pref
Do 2d ',ref
"iiio W isconsin Central
100
Do pref
indestrial&Miscellancous
H
13 Mch .3
5 Mch14
413 Mch 7
1213 Apr 16
t. Feb 27
1313 Feb 23
33 Feb 19
29 May22
10 May18
1014 MayL2
1013 May20
1314 May22
1912 May19
43l Jan 20
Range 107 Previous
Year (1907)
LOU'est
1418Nov
13 Oct
6 Oct
13 Oct
8 Oct
11 Nov
28 Oct
Jan
Jan
13:1088til
3754 Jan
iii
Jaa
ain
2578 Jan
*170 200 *170 205 4.170 200 *170 200 *171 200 *171 190
164 Jan 2 4185 Jan 18 4150 Atm'
114 51013 • 1012 *1012 11
11
1012 1013 1012 1013 *1018 11
-i0545A Va%
5 Meli 6 1133 J'fic 18
gerre
l
ais"
Aug
33
33
3378 33
33
:3312 33
3334 33
3334 3334 3334 1,800Do l
pret
14 Mch 6 1.413 J'ne 19
14 Nov
6651 6778 6618 63 • 05
6613 654 66
6518 6618 6538 6638 89
Amalgamated Copper.
4513 Feb lo 6934 May19 14134 Oct 13
_
_32
_00
12
4:32156
1:7::8: Janjj nne
2412 2434 24
2472 2338 2352 *2312 24
2312
2313
23
23
13 Jan 4 2473 J'ne 19
Jan
13000 Amer Agricultural Chem_
10 Oct
87
*86
*35
81 • *30
87
*80
89
*80
81
*80
87
7812Jan 4 a J*31.1 k
Do pref
75 Oct
3.15 Feb
*17
19
1713 1112 *17
10
17
17
18
18
418
18
912 Feb 10 2478 Apr il
J
Americar
Aapnr
nBeet Sugar--_
4Nov
D
1
:
231
7
3
7
78
*75
*75
73 .*75
78
*75
78 •*75
78
*75
78
-6
--i
-5
i.
65 Jan 23 78 Apr 23
o p
pre!
75 Mch
*4!2 5
*412 5
*4'3 5
*412 5
*412 5
*412 5
5)3 Jan 29
4 Feb 20
American Can
3 Oct
*55
56
5373 5438 5334 5334 *43
5412 54
54
5314
5312
"
Lo
44 Jan 4 57 J'ne 16
two Apr
Do prel
34 Nov
3334 :34
:3334 :34
33.2 3318 3478 3313 341. 7.401 American
3312 3334 33
n
Car & Foundry 2512 Feb 13 3838 May19
243,50ct
4:14 J Lin
9
*96
9312 *96
9312 *96
*96
98
98 *96
98 *96
98 8414 Mch 4 9812 J'ne 12
Do pref
103 Jan
38 Oct
304 :.1132 3012 3012 :101. 301. 3014 3012 3013 3012 *30
3012 f.oiio American Cotton Oh
2434 Feb 19 3438Jan 14
36'
y
Nov
J
21
1-,
*SO
00
480
*80
90
90
*80
90
*80
90
580 Jan 16 482 Mch14
Do pret
70 Nov
*181 193 *131 195 *181 195 *182 195 *182 195 *182 195
4170 Feb 20 4224 Mayll 175 Oct
---- American Express
aa
JJJ a
614
142 Jan
38
7
247
712 712 *7
8
*713 814 *712 814
*7
8
*7
8
-KO American Grass Twine
512 Apr 14
3'8 Jan 8
3 Oct
*312 4
312 31.2 *3
4
4
*3
314 *3
314 *3
300 American Hide & Leather
234 Feb 26
412 Apr 14
212Nov
*1712 19
*1712 19
*1712 19
*1712 19
*1712 19
*1713 19
Do pref
1212 Melt 4 2012 Mayll
10 Oct
an
2534 2612 2512 2614 27
2812 2738 2734 527
2714 27
27
577'i(5
1212
8l Oct
Feb
urities_
l
i
fi
e
nSe
Jan
see
May28
2913
c
9
d
*8
914
*3
912
*8
9
914
9
9
200 American
*8
914 .08
0 Mch 5 12 May14
194 Jan
88
8380ct
*20
22 *20
22
20
*19
20
20
1812 1813 *19
20
200
Do pret
17 Mch 5 2613 May14
1612Oct
36 Jan
4312 4414 4078 44
41
48
4214 4112 4212 43
4733 4813 22,200 American Locomotive__
3132 Feb 25 5233 May 7
_
7534 Feb
3214Nov
410012 10112 *99 102 *10012 10112 §102 102
101 101
102 102
50.5
551 Jan 3 10312 May12
Do pret
83 Oct
11112 Jan
*5
6
*5
0
*5
*5
*5
*5
6
6
6
6
American
Mel)
3
'2
034 Mch27
Malt Corp
212J'no
2912 2912 *2012 30
30
*3013 31
31
30
31
531
31
-iiii)
21 Jan 13 3412 Mch27
Do pref
17 Nov
*77
80
*79
80
*78
80
*78
80
80
*78
*73
80
Amer Smelters Sec pref B
70 Jan 17 8214 May19
934 J an
60 Oct
7518 76
744 7534 7438 7512 7438 7512 75,4 75:
,s x747.2 7514 50-,iL6 AmerSmeiting & Refining
5512 Feb 17 7914 Jan 15
5814 Nov x15
46
5 Jan1
*99 100
9938 9958 49912 9912 90:2 9934 *99 100
*99 100
655
8734 Feb 20 101 May18
Do pret
.Ian
8134 Oct
*180 220 *130 220 *180 220 *180 220 *180 220 *180 220
-- American Snuff
200 Apr 30 200 Apr 30 150 Oct
‘
1.
1 -a
Ji„
1:
:1.2 .
5
7
41.77
2
.1.3
1.
0
*90
*90
95
*90
95
9.5
*90
95 *90
*90 95
95
pref
80
Do
Met;
96
23
Apr :30 170 Nov 11133321
nni
0
*612 7
612 634 *632 712 *612 7
"HP5
634 678
Amer Steel Found trrects
18
7
Feb
412
J'ne
17
38
*36
*34
135
35
38
*34
37
35
35
360
2738 Feb 15 3734 J'ne 1/
Do pref tr r...cts
12412 12412 12112 12318 12214 123
12234 12234 124 12418 12414 12434
American SugarRelining
Jan
FebJ a i8
2 5
13
28
21,8
.1 I
M1a3
ii411-ey15
c5125 125
125 125 *122 127 *120 125
12418 12418 *122 126 "
150
0
10
9n
x106 Nov
*11712 11812 11738 11734 11713 11758 11712 11758 11758 11734 11778 11778 2,500 American Teieph
& Teieg 101 Jan 6 12o Apr 24
Jan
88 Oct
*8918 90
*89
90
8918 8918 *89
91
*89
90
*8812 90
100 American Tobac (new), pf 7232 Jan 2 17212 Mayll
9834 Jan
60 Oct
*2213 24
2213 23
2238 2258 2213 2234 *2238 24
*2213 24
900 American Woolen
1513 Feb 17 24 May15
3
1
11
0
3
5
laepin
3
8
4
9
2
1
0
iibrhy
8
3
:
1
8
4
Oct
2
8
4
8
JanJJA1
xa
*8812 8914 *8812 8914 89
89
*88
00
200
*8513 8814 *87
89
Do pref
7814 Feb 19 9018 May1,4
68 Nov
4318 4 214 4212 4014 4238 4034 4134 4114 42
43
4114 42
12,000 dAnacondaCopper Par$25 $2713 Feb lw 14614 May19 $25180ct
*278 314 *278 318 *278 3
318
314
234 3
234 314
2,902 dliatopilasMining Par 520 3212 Jan 23 35 hIcti26
$3 Oct
*112 120 *112 120 4112 120
112 112 *112 120 *112 120
100 prooklyn Union Gas_
x85 Feb 21 112 J'nc24
tO Nov 126 May
*858 1034 *838 1034 *838 1012 *813 1013 *813 10
*812 1012
---- 13runswick Dock&C Imp
6 Jan 3 1134 May14
6 Oct
*18
23
*19
*19
22
22
*18
22 *19
22
22
*19
13utterick Co
410 Feb 7 425 Jan 15
27 Oct
1 Jan
4
19
4:
*2412 25
2412 2434 2412 2412 244 2418 2414 2413 *24
1-,I55
25
Leather
1512 Feb 10 -712 Mayll
1178Nov
40 Feb
*92
9412 *92
9413 594
94
*92
9412 *92
753 Jan 1 951 J 'lie 9
94
94
*92
5 Central
k.) Do pref
Nov
68
Feb
1312
2614 2634 2533 2612 2532 2512 2513 26
3,100 Colorado Fuel & Iron
26
2612 *2634 27
1558 Feb 11 3134 Alay20
14 Nov
2
57
47384 Jan
*20
2112 *20
2112 20
20
21
*19
21
300 Co) & Hock Coal & iron_
2013 2034 *20
1434 men 6 24 May19
14 Dec
12314 12314 123 123
12214 12214 122 122 *122 12313 123 12312 1,300 Consolidated Gas(N Y)
96 Jan 3 x129 May21
74 Oct
*1614 1613 1614 1634 1612 1612 1614 1658 164 1653 1634 17
1,800 Corn Products Henning_
1034 Feb 10 1814 May13
8 Oct
6813 6834 *6713 6912 69
*68
70
7014
520
Do pref
6912 6912 *6812 70
56 Jan 2 7314 May La
46 Oct
3314 3312 33
34
34
33
34
3412
34
Distillers'
34
1,500
3314 3312
Securities Corp 2714 Feb 19 3734 May15
78 Feb
25 Dec
*70
*70
90
90
90
90
90
*70
90
*70
*70
*70
--_ Federal Mining & Smelt'g 80 Apr 28 80 Apr 30
60 Oct
ios Jan
*70
76
*71
78 *72
77 *72
*72
78
*72
78
78
Do pre!
97 Jan
59 Feb 10
1712 J'ne L.
47 Oct
6813 6812 6712 6712 *60
70
-i88 Federal Sugar Ref of N y 6412 J'nei8 6813 J'Ite20
aey
212 n
1:15()
42 Feb
96
96
95
9412 95
97
9412 14-1-2 -or 95
-1581-4 1614 1,095
Do pref
7312Feb 3 98 J'nell
76 Feb
*131 134
13078 13212 131 131 *130 133 *132 134
134 134
700 General Electric
111 Jan 2 142 Mayle
89120ct
163 Jan
*97 100
994 9978 9614 0614 *95 110
*95 100
*95 110
300 Granby Cons MS & P.
7834 Jan2 10312 J'ne 11
152 Feb
60 Oct
__ *55
60
*54
*54
60
*54
60
*55
60
60
--- Int Harvester stk tr Ms 52 J'ne 11 64 J'ne 13
10012 10012
*55101 10114 1:168
10034 10034 10013 10012 10034 10034 10034 101
Do pref stk tr offs_ _ _
59 J'ne 11 10114 J'ne 26
*718 73s *7
• *7
712 712
*7
8
*7
8
712
8
200 Int Mer Marine stk tr ctts
7 Mchli 1214
9M
Jaa
ny118
-412611
1
42013 2012 *2014 2134
21
' *2034 22
21
2034 2034 *2014 22
Do pref
16 Feb 25 2334 May 7
10 Nov
j
Arp
i;e
r912 912 *912 1013 *912 10
*912 1012 *912 1013 *912 1013
"iLti International Paper
8 Apr 1
2Nov
71
1813 Jan
*55
58
*55
5512 *5513 58
*55
58
58
55
*55
58
500
Do pret
52 Jan 1. 65 Jan 16
81 Feb
51
Nov
2312 *2113 23
*22
23
2214 2212 *22
23
23
*22
23
325 Internal Steam Pump
13 Jan 2 26 Mch23
8 Oct
41 Jan
76
*7412 76
76
*74
7514 76
76
*74
*74
*74
76
210
Do pref
65 Jan 10 77 J'ne 6
81 Jan
60 Oct
65
*6312 6534 *6313 6514 *6312 6534
6534 65
*65
6534 *65
200 Mackay Companies
52
Feb
25
66
44)
May19
Oct
*64
6534 *6334 6534 *6412 6534 6434 6434 6413 6434 *63
6534
400
Do pref
6978 Feb 25 6734 May16
50 Oct
8338 8358 8334 3.334 84
84
*8378 84
84
*8334 85
84
405
atlonal Biscuit
68 Jan 3 88 May18
Jan
681•20ct
*114 116 *114 116 *114 116 *114 116 5116 116 *114 116
15
Do pref
102 Jan 2 116 Apr 22
90
Nov
4918 918 *914 1012 *914 1012 *914 10
22 Nat Enamerg & Stamp'g
*914 1012 *914 10
713 Feb 14 11 May14
618Nov
5:8
4j
J an
16
7
80
80
*70
80
*70
80
*70
*70
*70
80
*72
_
80
Do pref
570 Feb 25 480 Jan 18 175 Sep
64
6534 6534 6334 6512 6333 6412 64
6413 6434 6412 6434 8,800 National Lead
36 Feb 10 6833 May26
33 Nov
9912 9912 9914 9914 *9834 9934 9912 9913 9918 9918 9958 9938
675
Do pref
8712 Jan 8 10034 May18
80 Oct
10
77:1675
3
713114'4 j nn
n
bh
6
618
*6
614
614 *6
512 558
51.1 534
6,000
Newhouse
M & S_Par $10 1514 J'ne26 $9.8 Jan 20
514 512
35 Dec $201, Apr
67
65
6634 6512 6513 *64
65
65
6534 66
6614 6613 1,070 New York Air Brake
n
50 Jan 2 7312 Apr 14
4712 Dec
ana
4911711 .JJjaa
194
*58
*58
59
59
59
58
59
60
457
*58
57
60
830 North American Co, new
424 Itch 5 64 May14
31 Nov
2512 *2414 26
*2414 2612 2434 25
25
25
25
*2412 2534
500 Pacific Mall_
24 Apr 20 3312 Mch24
39 Nov
91
92
91
92
*91
92
*91
*91
*91
92 *9114 9214
100 i eople's (I L & C (Chic) 80 Jan 2 9334 May19
Jan
7011Oct
*11
13
*12
1312 1112 1112 *12
13
*11
*1112 13
13
100 Pittsburgh Coal Co
813 Mch 17
1433 hfay19
7 Nov 151
71 JJJJFaaaae
No80 1:1;
*40
43 *40
•*40
44
*41
44
*41
43
43 *40 ' 43
Do pref
3612 Feb 14 4712 Mayli,
Nov
37
26
2614 26
2612 2634 26
26
2512 26
26
27
2712 2-,Ili Pressed Steel Car
5
an
1714 Feb 10 31 May 6
15IsNov
84
84
*82
85
*82
85
48212 84
*82
85 *82
85
210
Do pref
69 Jan 3 86 Apr 28
64 Nov
*158 15912 *158 1591. 158 158 *157 15913 *156 15912 4156 15912
100 Pullman Company
147 Jan 3 16112 APr 20 I:351 i Nov
*3512 38
37
38
*35
*35
*35
37
*35
38
*35
11 ailDwoay
3712
Jan
2334 Feb 8 3952 May Is
.Oct
211 1,
95
*9114
95
*91
___ _ *93 *93 ____ *91
90
-i615 LA.
Feb
75 Jan 29 65 J'ne17
pref
rMel SpringP
S
72 Nov
- 17
17
1613 1718 1613 1634 1638 1638
1613 1634 17
17
2,920 Republic Iron & Steel
1434 Fob 11 2618 May18
Oct
12
6
7
1i
j
J an
100
4
u
63
6334 6314 6334 6313 6312 6312 1334 6313 6414 465
65
4,785
Do pret
63 J'nel9 74 Mc1116
Oct
4918 4918 *4813 4912 *4813 4912 *4812 4912 49
*4834 50
7734 Jan
5014
900
-Sheftleld Steel&Irn 36 Jan 2 53 J'ne 1
26 Oct
490
*90
96
96
*90
*90
*90
90
96
96
9512 96
200 Sloes
ka Do met
8712 Jan 7 9512 J'Ile 10
1:7 Jan
80 Oct
4:3534 36
*3514 36
3514 36
*3514 3614 3614 3614 *3514 36
oteit
600 dTennesseeCopper Par$25 $2513 Feb 17 541:34 Itch:30 $17 Oct
*57
*57
60
*57
*57
60
*57
60
60
*57
60
Jan
60
Texas Patine Land Trust 45 Feb 11 60 Apr 24
42 Dec
1 rnion Bag & Paper
4 Feb 21
4 Oct
058 Apr 14
4478Jan 6 58 May 4
Do pref
3934Nov
68
11' Jan
n
-2-6-3-4 --2638 265-3
26 24 14-- 1012 1912 2073 21
491, atnn
1713 Feb 26 20 May18
S Cast 1 Pipe & Foundr
17 Oct
47518 7518 *70
*70
75
75
7078 66
463 • 63
70
66
6652Jan 2 76 May15
485
Do pref
49 Nov
*70
85
85
85
*70
85
85
85 *70
*70
*70
*70
United States Express_
70 Feb 18 90 Jan 33
70 Nov siii Jan
• 47
48
*46
47
47
49
*46
47
-3-)(16 U S Realty & improvem't 3614 Feb 5 5238 May25
Jan
4578 4572 4534 47
333 Nov
*10
*10
*10
*10
13
*10
13
13
13
12
13 *10
-_ U S IteductIon & Refining
51.Nov
4 Feb 21
3950:111.!
1314 May I ei
*22
*21
*22
28
*21
30
29
*22
29
29
D _.
*21
28
1814 Dcc
o pret
16 Feb 10 3338 Mayll
*2514 2534 2438 2512 2438 2438 24
24
*2313 2412 *2313 2412 1,1515 United States Rubber
134Nov
1734 Feb 10 2653 May18
.193
94
*9234 9414 9278 9278 9234 9234 9212 9213 *9212 93
310
Do 1st pref
76 Feb 19 95 May19
an
62 Oct
*56
61
58
58
60
*55
*55
61
61
460
116
Do 2d pref
*57
7818 Jan
42 Feb 21 6113 Jan '23
60
39 Nov
3714 3712 3633 3714 3614 3678 3614 3634 3634 3738 3733 3734 119,210 United States Steel
217sOct
'2534 Jan 2 3533 May18
10118 10138 10078 10138 10034 10114 101 10114 10113 102
Do pref
102 10238 7,345
8733 Jan 2 10331 May18
791RNov
an
*304 31
31
31
31
31
3214 3214 3418 15,325 dUtah Copper__Par $10 :-,20 Jan 2 83411 Mch27 $13 Oct
31
32
u
1:680319
32
0
:
78372
43 jj.j
itch
*2212 25
2312
2212 24
*22
2212 2212 *22
400 Virginia-Carolina Chem
2358 *2214 24
1238Nov
3938 Jan
16 Feb 27 '2534 May14
110014 102
101 101 *10012 101 *10012 102 *30013 101 *10052 101
200
Do pref
z81 Jan 2 101 J'ne is.
75 Nov 108
97 Jan
55
*50
43
48
55
*48
*48
200 WInia Iron Coal & Coke 43 Jan 7 56 May15
5212
50
*48
*48
55
31 Oct
Jan
1250 305 *250 305 4250 305 *250 305 *250 305 *250 305
ells Fargo & Co._
4250 Feb 13 4260 Men30 250 May 200 J'no
5312 34
56
*54
estern Union Teleg
-F7-5
152
53
53
5212 53
53
5112 5112
41 Feb 19 6113 MaY15
54 Dec
85 Jan
48
50
50
5512 5234 5534 5413 5513 5434 5712 5513 5678 23.560 Westingh'seEl &Mfg assen 38 Ilch 11 5$ Me11231
32 Nov
70
70
70
747, 77
70
1.250
Do 1st ore!
so
80
85
75
75
*77
Dec 4116
514 Mch24 >.) •"(0,:i,'
54
ra
15 j
nv
Na
Ja
.
U
-,ino ti
BANKS
Banks
Union Sac Ii
(IS Exch
Wash fi'ts
West Side 11
Yorkville
Bid
175
230
500
400
Ask
186
425
Banks
Brooklyn
NTontauk -Nassau _-- Nat City__
North Side I,
Prosp'ctPitli
l'ermtnal
Bid
130
'240
276
320
155
AND
Ask
27:16_
300
340
1 ‘5
130
TRUST
COMPANIES-BANKERS' QUOTATIONS
Ask
Trust Co's Bid
N Y CUL
_
Bowl'g (len 315
__
B'way Tr- - 125
.
4
Carnegie _- 3185 f165
Central Tr- 17700
Colum bia _ - 210 2157
Corn:Li(metal f160
_
320111'wealth
:9.
-5_
Empire _ iid.
EquIt'ble 'Cr 365 375
Farm Lo&T 1050 1103
Fidelity
. 190___
Trust Co's
Fifth Av Tr
Fulton ..- -Guar'ty Tr_
Guardian Tr
Bid
2
2-4-0 I.90
1.2.. _
Ask
415
_
4-1-0 232
55
0
Trust Co's
Slut All'nc4
NY 1.1te&Tr
N Y Trust_
Standard T4
fiticGu& T7
I'r Co of A 1
Union Trust
1.13 Mtg &A r
Unit States_
VanN'd'nTr
Washington
A'estehester
,'Ird.-r _
Bid
trust Co's
Ask
1000k.f111
1.;19
170
Irooklyn Tr
1000
_ _
4-0
51-0. Mtizens' 31:3 - Platbush __
. 'ranIclIn __
375
Lunliton __
220 2-6-0
iome _-__.
11150 1200
`(Ings Co _
325 :351
Lafayette__
1080 1110
I ssl Lu ea
...
- 305 \aa
1- .a
Tr
.
...
4-00
il141People's __ _
135
130
IFO
''Iii'"h'
Bid
: sk
390
125
240
175
'250
r()
435
100
2
143?
6)
400
iiAr •
193
Knickerb'kr 3t7J
325
275
Brooklyn
Law 'I' I &Tr __ . '200
00
150
Borough 1. 120
Lincoln Tr.. 10217 ..2.2
455
425
Broadway 1 400
Manhattan_ 360
400
First Trust Co's
_ 290
Mercantile _ 750 800
N 5' City
100
nlesiii1iom
Metropol'tn 490
__
175
Astor
anufac'rs' 390 425
299
Morton Tr- 400 426
760 280
Banlmr..
4Ifii"
I)
240 -50
\Stith.] __ __
95
I,
5
pm
---•
*1316 and nisked prices; n,. sales ‘7t3 L ,• 0 iv. 4 i-Lts.s man 100 snares. t 7.3a- '(eats. 0 New J.,.K. C
I I CI .
4 ,v q;Loe3 dollars per share
I Sale at Stook Exchange or at auction this week. s Trust Co. certificates. 11 Banks marked with a parazraph (11) are State banks.
Rcchl
New York. Stook Exch.ange-3ond Record., Friday. VV-eekiv and Year
404(111'1 1Nt. 1441!It
Ho hi),
N. Y. STotlit EX('H A NG E
Witisk Emmet, JUNE 26
Prpe.
117
ea,
440vel
U 6 2s consul registered.d1113, (I• J
U S 2s celesta coupon—Al:13i. L•1•J
ic191- Q.14
U 35 remstered
k191 42- F
1.1 5 38 coupon
U S 3s rex small boads 4c19is 42- F
U S315 con small boints k1919 42-14.
1925 t4- F
U S 45 registered
1925 .4. F
U 48 coupon
U SPan Can 10-30 yr 2s.k1113t. Q N
Fridat,
June ?6
Weees
Range or
Last sale
//,$)re
A8
,
104 105 193 J'ne'09
2 ,054 1114 18 1.44.'18
,04,
W4'34 101% 10114 Mar', 8
100,4 101 10138 May'4•8
107 J ne'te,
101 4, Feb'08
10014
121 4 12i '204 NI ar'09
1224 123 122'8 J'ne'06
103,4 Mar'06
hi,
Sftwe
ho
10 14 104 14
.0445104,8
1014 101 14
14)1 102
101 1, 101 1,
,
11842122'4
12034 1234
1034 103
Foreign iovernment
Imperial Japanese Goyernm -f
1925 F -A I 8914 Sale
88 5
8914 17
Sterling oaf. 4 42s
89
1123 •J
89 Sale 89%
',111 series 4s
1931 .3 i 91
8114 98
8114 80%
Sterling ,oan 4s
Reptio ot Cuba 58 exten debi.. NI- 110334 Sale 14)334 10.0. Il
.9 4J'ne'08
,4
s at Al exioo H I g 58 of 1899 .,.4
1954 J -D
92
94,8 24
924 92
Gold 4s 01 1904
'I hese lire pr Ices on the o asis
State and City Securities
ill Mar'02
siauaina curt* tund 45 __I924 J•J
117 4J'ne'Oe
1924 F•A
Dist of Colunibm 3035s
lionisiana 11,-te consol 414-1914 4-4
10511 1)00 04
New York City—
11157 51.N 108,
4 Sale 108% 108%
New 4s
1917 31•N HA% Sale 11144 10414 32
New 4-s
108,4 '5i
4 4% Corporate Stock 1957 M-N lub 4 10834 108
1917
104 J'ne'Orf
N *1044
.4
'
,
A,asse,ront bon s
New 'York State—Highway
1.0938J'ne'05
Improvon't 4s (rects) 1958 M.S
10014 Apr'07
North Carolina cousin 48 1911, 2•4
1911' A -I)
128 Mar'07
Us
1933 J -J
120 Msr'Ot
So Carolina 44320.40
95
1)6 May'08
Tenn new settlement 33 1913 J • J
92 •Pne'uti
Virginia fund Itout 2.38 1991 J -J
39
39 J'ne'U8
Us iieterred Brown Bros ctfs.
Itailrorie
A Mamma Cent See So Ry
[Xislah Mall See At Coast Line
Albany& Sum See Del & Hue
Allegheny Valley See Penn RR
Alleg & West See Bull R &
41995 42-J
Ann Arbor 1st g 4s
/etch V& S Fe—Geu g 44.1995 A-0
Registered
1995 A-0
Adjustment g 48
h1995 Nov
Registered
41995 Nov
Stamped
410115 51-N
Cony g 45
1955 J•1)
10.year cony g 5s
1917 J.1)
Deueutures 454 Series0 1901. F -A
Series H
1910 F A
Series!
1911 FA
Series K
1913 F -A
East Okla Div 1st g 45 1928 MS
Atl Knox & N See L
N
Atlantic Coast 1st g 45./11952 24- 8
Charles & Say 1st g 75 1930 J -J
Say If & W 1st gold 08 1934 A-0
1934 A-0
let gold 58
Ala Mid 1st gu gold 5s 1928 5.1-N
Bruns & W 1st gu g 48 —1938 J -J
01952 Al-N
L & N eon g 441
SiiSpOca&Ggug4s..1910 J -J
Atlantic & Daily S'ee South Ity
Austin & N W See Sou racilic
alt & 01110 prior 1 g 34s.1925 .4
Registered
411)25 • J
Gold 455
/51949 A-0
Registered
41949 (4.4
Pitts J tine 1st gold 68....11122 J -J
PJan& M Div 1st g 31481926 )4•N
E
&
W
Va
PL
Sys ref 4s1941 M-N
Southw Div lat g 3,28-1925 .1 • .1
Registered
41925 14-4
Motion lily 1st gu g 55..1919
Con Ohio 1( 1st g4428-1113i,
Cl Lor & W con 1st g Ss 11)3); A-0
Ohio River RR 1st g 55 1930 4-1)
General gold 58
1937 A-0
Pitts Clev & Vol 1st g 68 1922
Pitts ,J6 West 1st g 455 1917 J J
'Stet lel ay 1st gu g 412s 1943 J
Bat Creek & B See Mich Cent
k3eech °reek See NYC&H
Seller & Gar See 1111nois Cent
Bklyu do Montauk See Long 1
Bruns & West see Atl Coast L
Buttalo N Y & Erie See Erie
Bullet° It & P gen g 5s 1937 .s
Consol 412s
195; M-N
All & West 1st g 45 gu 11/99 A-u
Cl & Mali 1st gu g 5s
1943 J -J
Koch & Pitts 1st g 8s 1921 F -A
Conrail 1st g Us
1922 J -D
i3uttalo & Southwest, See Erie
Bull els Susq. 1st ref g 4s.c11951 J -J
Bur t) R & N hee CRI&P
1913 J.3
ian So lst.. est 6s
1913 NI- 6
x•-•)2d 555
19111 NI- S
Registered
Carb & Shawn See 111 Cent
Carolina Cent See Scab Air L
Carthage & Ad ,s'ee N Y c& H
Ceti R la I N See1sCRdl N
Con 13ranen lty See Alo Pac
Cent of Oa RR 1st g 5s..p11145 F.A
Consol gold 5s
1945 51.
Registered
1945 51.10
1st prof Income g 5s....p1945 Oct
Stamped
2u pret income g
p1943 Oct
2d prof ine,,me g 5s stamped
B
8012J'ne'08
9738
98 202
11634 J'ne'u8
87'
1
57'2
86 Apr'07
884 86% 86'2
8634 11
8934 Sate 81)34
VI ka 3.1
mizsi 100% 65
1111% Sale
98.8 1150'07
9614 aiat'tes
994
984 Nar'04
94 Nov06
'2
97
94% 97% 97
80le 85
97% Sale
96%
88
90
9114 92 J'ne'U8
1'20
1224
106
DM%
85
91
83% 89%
81%
75
1004 1114
96
9914
904 94%
of $5 to B.
105%111
01 4 104%
105 110
103 1044
,
109
784 51 14
9578 101 Li.
9514 100
83
89
82% 89
85% 93%
944103
96% 96%
......
9514 97
93
111,2 124
......
83
74
.....
93
934
91
98% bale
/
9314
9374 79 90
94
VO Apr'09
894 90
984
088s 90 964102
95 May'08
115
084
12() 001 -01
81
83 J'ne'uts
80
83
83
9034 92
90 4,J'ile'ob
87
92%
894 89% 89,
4
69% 8 83% 89%
89 Oct 'uti
......
101
10578 Fe1.1 105
109 A pr'u5
98
108
1411134 J'n e'tr‘
110 J'ne'08
110 110
104
10034 May'"
10014 10034
107
11114 mat a)1
9t)
884 Oct'07
luU Nov'04
108
101.
104
117
11734
854 87
110
1U3
1104 Apr'08
1014 Mar'ub
98 Doe'07
103 Apr'11,
11614 Apr'09
118 J'ne'08
114
117
1154
118
Feb'09
91
91
91
108 1104
1011410114
bale 10934 110
21 107%110
103
Sate 103
5 984 103%
lU034 MaY'07
11238
112 May'Ob
105 10514 105
105
113 Apr'08
71
71 J'ne8
73
71 May'06
46,
4 464
45
4614
4014 48 May'08
1
112 112
9714 107
55
(15
2 45
44
Ii IsCE1,11.AaL141,s
Street Railway
Brooklyn Rap'rr g 5s
100 100 J'ne'09
1945 A-0
1st refund cony g 43.-21102 4.4
73% Sale
71 12
73% 179
13kCity 1st con 56.1910.1941 4.4 104
102 May'08
13k Q Co& Soon gu g 555.1941 M-N
91
92 18 J
Bklyn tin El 1st g 4.50.1950 F -A
98
994 147
97
Stumped guar 4•5s
1950 F.A
100
98 Apr'06
Kings Co El 1st g 45.-11)414 F• A
8114 Alay'uts
Stamped guar 4s
1949 F.A
84)
`40
6
Nassau Eleo gu g 4s — 1951 J -J
76
793
, 774 May I 8
Conn Hy& let& ref g 448'31 J.J
93 Mar'ob
1/814
Stamped guar 4 4s
1951 J •J
94 Mar'118
9814
Den Con
Co 1st g 55 1933 4•0
95 J'ue'00
Dot United 1st con it 442+1 1,31- 4-4
79% Dec'07
68
Havana Itlec oonsol g 58 1952 F -A
04 Jan '09
88
Inter-Met coll 4 12s
Mai A-0 65% Sale
414,
4
6534 322
Inter Rap TI yi cony 68.1911 MN 1005 Sale 100
100,8 183
Internet Trac coil tr 40_194.. J -J
62 May'08
Manila Klee 1st & coil 6s.1953 M.8
98 Aluy'oli
*No price If`rutay; iateet, price this week. aline Jan
10934
94
96
90
92
22% 43
80
12338.1'ne'08
1258 Jan '04
11438 No4'05
394 biar'06
804
8014
114, PlY'07
80
87
13111% Ds
N. Y. STOCK EXCHANGE
WEEK ENDINO JUNE 26
Range
2 January 1
73
71 12
50
50
Hu
91 100
65% 76
9974 102
9218 92%
9314 101%
08
118
81 12 8i',
77
82%
75
80
95
1)5
93,2 95
94
94
4978 63%
00 100 .•
60
65
-
Prier
Fridau
June 26
Wee v's
Range or
bast sale
tiange
Nines
A:4 fanstarg I
LIDA
Ass LOW
thy'
, No Low High
Cent of Ga 1111—(Con)
3634 J'ne' 8
DI DM?
Oct
'27
40
37 May'08
3d pref income g Las stamp°
27
404
89% Fob',,,.
Chau tOy pun mon g 415.1951
89% 89 b,,
104%
1 loo's 10471
Mac & Nor Div 1st g 58.1944; 4,1 102 105 l047
115 Nov'05
Mid Gs & All Div 58—.1947 J J
.....
109
505 Dee'07
194t;
Mobile Div let g be
100
100
••
ion kt kt & Box 135 oot g 515193:
3 92 100
5 117 1'24%
Jent of NJ gen'l gold 58.1987 J• • 12438 Sale 1.'4438 1244,,„
llt'-'4 1127 121 J'ne'4,54
41987
120%122
Registered
109%
109 J'ne't.8
Am Dock & Imp gai 58..1921
107 109
Le & Hud R gen gug 5s 1920 J J 102%
......
.
Apr'08
4
Leh dis Wilke 13 Coal 55..1912 14-N
98
98
99
99
98%
Con ext. guar 4 40 J1910 (4.5f
984 100
97
N TA Long Br gen g 4s 1941 M-s
cent Pacific See So Pacific Co
es May'0
CentVermont 1st gu 94s.e11.20 (4- F
Chas & say see All Coast Line
101 J'ne'08 ••• 1004 103
Ches & Ohio g6s ser A 41906 A-0 1004
103 May'o8 --•• 102 105%
Gold tis
a1911 A-0 10,1
112
112
507411414
1st consol g 5a
1939 M-N 152
101% Dec 07
Registered
1939 M-N
General gold 4 to
1992 51.5 1u0', Sale, 10014 101% 44 MS 101%
Ms.yafb
104
129
Registered
1992
112 Fet)445,
Craig Valley let g 5s
1940 J.J 100
95 100
98 J'ne'ut3
91 % 99
& A Div lat con g 48 1989 J • J
92%
2d consol g. 48
MartI8 ---• 89
1989 J -J
100
1134 5,eu05
Warm Spr Val Da g 54 1941 M.
9034 Feb 1041
93
Greenbrier Ry 1st gu g ts'40 MN
4
Chic & Alt RR ref g 3a 1949 A-0 '22,
724
724 4 437% 78
68
It 60
66
68
68
Railway 1st lien 31215.. 1960 J •
%1S155 '05
Registered
1950 J J
100 101% 100
1410
chic Burl&(4—Denv D 4s 1922 F
4 97 10014
91% 60 97
97% 974 9714
98
General 48
1938 M.S
89% 894 s8',
88'e 34 86
11449
l'044
1111[1018 1.0V S441
J
96'4
86%
8634 8634
Registered....
194o J • .1 e
101% sale 1,41
101% tth 971810134
Gold 45.
1949 104
.106
Jan
08
106 106
Iowa Div sink fund 53 1919 A-0
118 J'ne'u8 ••.• 96
14)4
1919 A-0
Sinking fund 45
9734 91)
99 J'ne'Ob
liii
101%
Nebraska Extension 45 11327 M.N
May'09
101
12
h
1014 101%
Registered
1927 M.N
9.368
90 Oct '07
Southwestern Div 4s
1921 M-S
Joint bonds See Great North
102 J'ne'09 ..• 97% 103%
Debenture 5s
1913 401.N 100
104 Apr'09 .--• 104%1056a
Han & St Jos e,onsol 68 1911 M.S 10jle
82
92
93 apt'07
Chic& E Wrest& imp g 4$ 1955 3.4
1st oonsol a Us
1934 A-0 121 131 115 Dee'07
112 J'ne'08 •••• 106%1124
General consol let58— 1937 61.14 112
1184 Feb'uu
Registered
1937 M-1,
1
09,
,Jan'08 •- 109% 109%
Clue & Ind C Hy 1st 58 1113u J • J 106
Chicago & Erie See Erie
124
12414 May'09
11714125
Clue In cfs Louis
'
, ref 6s 1947 105 Oct '07
Refunding gold 55
1947 J • J 103%
100% Max-'06
100 1014
Loulav Ni A & Ch lat 68 1910 J J 104
105%
May'ur)
Chic Sill & St P term g5s 1914 J -J
1035 106
tib
102 J
100 103
General g 44 series A..431.9811 J •J 1024
104 4. Uet'06
Registered
e1989
88%
59% lb 864 90%
894
General g 3's8 series B e1989
15,4 Oct,'05
Chic & L Su Div g 5s....1921 J -J 109
Chic & Mo km Div 58-19213 .1.4 111 4 112% 1104 May'Ors
110 111%
104.g
104 %May'08
Chic & Pao Div 88
504 104%
1910 J•J
1111
/
4 11,54 ii()'
Chic & P W 1st g 6s
2 10838 1114
1921 J •J
10458 Apr'68
104 4 1064
Dak & Gt So g 5s
1916 J J 109
120%
137,
4
J
ly
Far & Sou assu g 6s
1924 J•J
1024Jan '1./8
102414124
Haat 415 D Div let 7s
1910 J -J
101% Apr ant
.91%101%
1910 J -J LUZ
ltst 553
1132 4 API'
06
& D Exten let 7s
1909 J -J
108 4 BlaY'oe
108% 1084
LaCroseedb 1.) lst 5s
1919 J -J 107%
100% r et,'4..8
1910 J • J 10,34
l00%100
Mineral Point Div 55
'04% 104%
1 1004 1945
So Minn Div let (355
1910 J -J 1u4
101 1034
14)3 1.8 MaY'UZ"'
Southwest Div 1st 43s
1909 .1-J 102%
4093
9
108'4 Apr'09
,U8 1084
Wis & Minn Div g5s
1921 J -J
105 Apr'09
105 % 106 4
5111 & No 1st 51 I, 68. 1910 J-1> 1UL LA
11(8 4 Jan 'tits
108', 1084
lat consol Os
1913 J-1) 10534
2 117% 117% '
3 115381184
Chic & Northw eons 7s
1915 Q.F Ito,
4 7%
toO
99 Joe 08
911
99
Extension 411
1880.1928 It
084 Apr'u8
984 9834
Registered
18843-1926 F- A
91,,
01%
l 90
92%
General gold 348
1987 St-N
95 Feb'05
110
Registered
p1987 42-F
.07 4 1114
Sinking fund 6s-1879.1929 4-0 111 1411214 11114 May u8
g uts 4 Jan 08
Registered
108's 14484
1879-1929 A-0
Sinking ltuiti 5e-1879-1929 A-0 lob '1101)14 1.08,2 109, 1 108 109
Nov"-7
Registered
1879-1929 A-0
100%1024
Debenture Sc
1409 MN 100. 101'4 oaf% Joe Lis
100 4 1014
UU r 'ue'uo
1909 M-N
Registered
105 h eu'l,
105 1054
Debenture 5s
1921 A•
103 J'ne't47
Registered
1921 A-0
10514109
109 Ms) 08
Sinking fund deb 5s
1933 M.N 101)%
107 107
109 107 /*Huai,
Registered
1933 M-N
10134 101%
10134 Mar.'s
North Illinois 1st 5s
1910 M.S 101%
101% 10138
101 15
Ott C F & St Paul 1st 5a 1909 M-S 10114
Mll L S & West 1st g de 1921 M.N 118%
118.4 Apr'08
IS 11834
8
Ext & Imp sfund g 58 1929 F -A 152,
111 apt 'l)8
110 111
Ashland Div 1st g Us 1925 M-8 122
14214 Feb al"
Mich Div let g Os
1924 J • J 122%
1.4514 Feb'/6
Incomes
1911 M-N 100 105 101) 6ep ('4
Clue Rock 181 & Pao 6s 1917 .4 11534
1 i5 J'ne'06
112 1154
Registered
115 Apt")
115 115
1917 4.4 110-4
97
9s
atilt to 91 10012
General gold 48
97 14
1988 4.4
94 4
Registered
9612 97
1989 -4
Mart,b
84)38 3, 93% 88
Refunding g 4s
1934 A•0 85 Salo 85
Coll trust Series H. 48 1910 M-N
97 J'ly '04
924 Nov'uti
J 48
94
1912 M-N
1(014 Jan '02
M-.8
11415 M•13
103 Jiay'u,
N 48
1910 M-N
10034 lfeb'07
04s
1917
84 Aug'0
P45
1918
64% 1187 5534 69
Chic It I & Pao RR 48 2002 MN 61% Sale (3014
d2i4 Jan '08
Registered
6214 624
2002 MN
eS) 131 59,2 78
63
Coll trust gold 58
1913 51-13 65
Bur Ced BA Northern—
t10% Mar'08 ... 106 111
Con 1st & col tr g Os. 1934 A-0 106
l20'2Alar'u3
Registered
1934 A •0
CRIF&N W Istgu5s 1921 A-0 101
111 Nov'05 .
1
M & St L 1st Arti it 7s 1927 4-I)
--Continue.' cii
hext elute.
street itailwa.y
&Jet St Ity gen col tr g 56 191)7 F-A
804 Sale
Ret g 45
2002 A.0
48
13way& 7th Av 1st c g 5s 1943 J -D
904102
Col& tith Avila Ku g 555.1993
95
9734
hex Av & P1, lstg'i g 58 1993 M-S
97
Third Ave RR con fru 4,42000 J -J
62 Sale
Cent Tr Co mils fampd..
5,1 78 sale
Third Ave kty 1st g 6,4_1937 4.4 10-14
W 6 El(Chic)1st g 4'5.1939 F •A
MU El Ity & L 30.yr g 58.1926 F -A
a inn St Ity 1st eon a 55_1911, J•J
N Orl Ky & Lt gen 448 _M.- J -J
St JOS RyLtli & P leitg WS, M-N
Paul ity Cab coo g 24 1937 J -J
nderground of Lou 58. .1908 J .13
o mon Et (Clue) 1st g
A-0
100
United Rite ban Frsi 4,5.1927 A-0
4-234
Unite,' Rys St I, t a 45.I 0.,4 43
8 Dut ,tar s Due _day g Due , ne 4,Due
17
it true 4ag
85
804
81% 66 68
50 J'ne'08
40
56
93 102
9r May'ust
97 48 May'08
95
99
96 May 00
96
98
5 494 63
63
52
51 78
5178
50
62
106 J'ne'08
101 106
'14.
i'3,, lyy'14,.,
109 J'ly '04,
107,
2 Fel4'06
905 -rip '06
1.3', Oct '4),.
110% hoe'410
41 44Apr',48
414 414
10078 101
I'll May' 8
59
73 May")
73%
76
85
82
p uue..ov s Option ciala
uthle..)t3
15'76
150ND
N. Y. STOCK EXCHANGE
\Vicki( ExoiNG JuNsl 26
New York Bond Record-Continued-Page
Week's
Price
I
Range or
Friday
Last Sate
June 26
Range
Since
x January 1
130ND
N. Y. STOCK EXCHANGE
WEEK ENDING JUNE 26
r...?..
4"
-;.
4 ,
[VOL. Lxxxvx.
2
Itice
Friday
June 26
3Veek's
Range or
Last Sala
icange
Oince
ze January J
111gb No Low iiiwk Erie-(Con)
/ha
Ask Lois
Chie Rock i & Pao-(Con)
High
Low Jiigh
./314
Ask Low
104;Jan'08
Choc Ok & G gen glis.o1919 J-J 103
104,
2 104.;
Y Sus & W lat ref 53 193'1 J-S
......
103 Dec'07
Consol gold 58
1952 M-N 105 109 111 May'06
2d gold 448
F -A
......
10014 Deo'06
1937
1004 J'ne'1/8
Keok & 1)5811 1st 58
1923 A-0 99%
9834 1004
General gold 5a
14.4(4
81/
89 J.ne'Oe
81)
11/40 F-A
ehio nt i& NO See 111 Cent
110 110
Terminal 1st gold 5s 1943 M-N
110 Jan'08
Ohio St L & Pitts bee Penn Co
Regis 35,000 eaoh 1943 M-N
Ohio St P NI. 36 0 con 6s 1930 J.15 1253s126 12614 J'ne'08
121 128%
Mid RR of N J latg6s 191u A-0 102
101 luz3e
102 May'08
93 Dec'03
Cons 68 reduced to 3415 11131, J-1) 884
Lou 1.01
Wlik& Ea lat gu g 56 1942 ,.1-1-2
95 100 May'08.
124 Jan'08 n-•• -----Ch St P & Minn lstg 65 1918 M-N 120
524 124
r;v0., ln,l lat con gu g 68 1926 J-J 113,
110
108
J'ne'08
4
.....
108
12104 Mar'04
Nor Wisconsin 1st 68-1133o J -J 127
Erie Si Pats see Penn Co
1154 115(4
St.P & S City lat g tia 1911. A- U 1154
116 117(4 Evans & T 11 1st cons 63 1921 112 112
107
112 Jan'OS
J'ne'Ot
112
1114
Q-151
ql932
6s
Chic& West Ind gen g
112 113
1st general gold 58
96 103
1034 103 J'ne'ue
1942 A-0
944 9134 May'0.':
1952 J. J
Consol 50-year 4s
91
95,
4
Mt Vernon 1st gold 653_1923 A-0
114 Apr'06
Chic& W Mica Nee Pere Marq
Suit Co Branch 1st g 58.1930 A-0
25
95
J'ne'08
95
P
Choo0& Gulf Bee C I SI,
1.1arge es So See Ch Si Ja St P
113 Oct '00
Chis 11 8a D 2d gold 412s-1937 J-J
hnt& Pere M See Pere Mar
102 J'ne'07
Ulu D & 1 1st gu g 68-1941 M-N
Fla C Si Penin See Sea Air Line
80
C Find/fa Ft W 1st gu 4s g.'23 11-N
Fort St U
105 Mar'96
Co 1st g 448.1941 J-J
83 Jan '07
774
CinI & W 1st gu g 48.1953 J -J
Ft W & Den 1st g 6a
104 110
1064 10134
1921 J-D 106,2
984 Oct '07
Ind Deo & W lst g 5a...19131; J -J
Ft W & Rio Or 1st g 4a 1928 J-J
813
82
85 May'08
'14
85
1074 Deo 02
lat guar gold 5s
1935 J -J
'alliarSiSA See So Pace°
OIStLdb0 LieeCUCJbeal.
Si IL 011882 1st 58.1913 A-0
90 De53'07
Cin & (I See (I C C St I,
Georgia Si Ala See Sea A Line
Clearlield & Malt bee B H &
Ga Car & Nor See Sea A Line
9434
94
95
Clev Cin & t3t L gen g 48 19113 J
6 82
99
Georgia Pacific See So kly
96
Cairo Div lat gold 415-.1932 J -J
06 May'08
26
90
Gila V G & Nor See So Pat: CI
93
thu W & M Div lat g 46.1991 J -J
95 bop '07
(i011V & Oswegat See N Y Cent
9134
93 Apr'08
St L Div lat col tx g4s 1990 M-N
90
93
Grand Rap& Ind Bee Penn RR
Registered
91 Oct '07
1990 3144
Gray's Pt Term See St L 8 W
_Spr as Col Div 1st g 48 1940 NI-S
92 Feb-08
02
92
9712 Sale 9878
Gt Nor-C B& Q
98 179 924 98,
tr 4a 1921 -14
854
118 Sep'06
W W Val Div lat g 48-1940 J • J
Registereti.h.
11434
1921 (44 95,2
954 37 021,1 9834
105 Jan'04
C I St L & C consul Us 1920 M-i. 10114
Greenbrier By See Ches Si 0
94
974 954 Apr'08
1c1930 Q-11
1st gold 4a
95,
4 05', Gulf &6I lat ret & t g 58 61952 J
'Nos'07
93
984 pet '07
Registered
1c1936
LI an & St Jo See C B Q
-109 J'ne'07
-J 1044
Cm & CI con lat g 5s..1928 1-F
ousatonio See N Y.N
Il
114 Apr'08
1914 J•D 111
C 11 0 Jo 1 oonsol7s
114 114
Hock Val latconsolg41215 1990 J -J 1014103 1034 1034
1 98(4 103(4
Consol sink funti7e
1914 J -D
Registered
J-J
99 Oct'07
1999
121%
tienerai consol gold 68 1934 .1-J
121 Apr'08
120 121
Col Si R V 1st eat g 48 1948 A-0 94
97
98;Novq)15
Registered
1934 J-J
Col Si Tot 1st ex 4s
95 ...... 95 Dec'07
1955 F-A
94 May'08
Inc 131 Si W 1st pret 43 1940 A-0
94
95
94
Roust E Si W Tex See So Par
0 Ind & W 1st pt 58-5411/3e Q-J
Roust Si Tex Cen See So Pao Co
Peo & East lat con 4s 1154U A-u 89
9134
91% 9184
85
10278
91% Illinois Central let g 48 1951 J
102 May'08
102 1034
J'ne'08
Income 45
45
40
1991/ Api
42,
4 60
Registered
1951 J-J 100
107% Ale0•1
Cloy Si Marietta See Penn Rh
1st gold 34s
934
4-J
1951
an,Mar'08
91% 9154
Cloy & Pitts See Penn Co
Registered
95 L,J'ly lit,
1951 J-J
25 554 63
63 Sale 63
Col Midland 1st g 48
63
.....
1947 J J
Extended 1st g 34a
89 Nov.07
1951 A-0
......
Colorado Si Sou 1st g4s 1929 F-A
89; 2 82
894 90
89%
9018
1st gold 3ssterling
70 Oct '04
M-S
1951
Relund & ext 41213
1935 M-N
78(4 784
78% 37 73
Coll Trust gold 45
8l(4
99 J'ne'Ots
1952 A-0 98
97 1014
Coltuu & Greenv bee So Ity
Registered
98 May'u7
1952 A-0
Col Si Hook Val See Hock Va,
L N 0 Si Tex gold 48 ...1953 .11-N
95
100 J'ne'08
.95(4 101
Col &'rot See Hock Val
Registered
97 May.07
11153 M-N
Col Conn & Term See N & W
Cairo Bridge gold 48
19150 J-D
102(4 Jan '07
Conn Si Pas Rive 1st g 46.194:3 A•0
LoinavDiv&Term 8348953 J811 Sale 871s
89
2 85
89
91 Apr'08
Cuba RR 1st 50.yr 5 g. _1952 J-J
91
Middle Div reg 58
91
1921 F-A
123 Ma)'90
.25 Gt.
t.so oe4ilMdebtP
Omaha Div 1st g 3s
1951 F-A
784 AprUi
atlas & Waco See AL K
St Louis Div&term g33 1951 J-J
75
80
764 3.1,,Y'oe
7154 '764
Del Lack & WesternGoldRegiaste
L2reed
1951 J-J
11718 Mar'Oe
Morris& Essex 18t 78-1914 M-N 1144
114(4118(4
85
- 87 J'ne'08
11996511 J-J
704 87%
lat consol gnarls
1915 J-D 117 118 120;May'08
1204121Pu
Registered
J -J
101 18 Oct '95,
127 J'ne.05
Registered
1915 j-D
Spring Div 1st g 3(4e 1951 J-J
100 N ov'Ou
94,
2
let ret gu g 34s
2000 j.D
Western Lines 1st g 4a 1951 F-A
97; Aug'07
N Y Lack
W 1st 68-1921 j.j 120(4125 117 Mar-08
116(4117
Bellev Si Car 1st Os
122 Dec'05
1923 J-D 1104
109 Apr'08
Construction 5s
10858 100
1923 F-A 108,2
Car b Si Shaw 1st g 4s 1932 M-8
97 Mar'07
90
99 May-tie
9754 99
Term .15 improve 4a
1923 M-N
Chia St L & N 0 g 5s-11995511 4-1) 1114
99
106 Dec'07
102 Feu'03
854
Warren lat ref gug312/5 2000 F- A
Registered
gi
119; Mar'04
J-D
12112 Apr'08
Del Si Ilud 1st Pa Div 715 1917 3.1-S 120(4
121(4123
Gold 312,5
8814 Feb'07
J-D
1951
149 Aug'01
Registered
1917 M-S
mR
em
egi
ph
stp
eriv
edist,
g
1951 J-D
974
10-yr cony deb 45
1916 J-D 96% Sale 9654
94(4104)
Mar'Ot
J-D
100 100
4a.
100
.1951
97 Mar'08
1/8
1922 -j
lat lien equip g 44a
96
97
St L Sou 1st gu g 4s. 1931 M-S
Mar'07
113
......
Alb & Sus cony 31215
1946 A-0 91) 954 95(1 4 J'ne'li8
91% 97; Ind BIS/ West See CC04358t L
128;Feb'08
Rens & Saratoga 1st 78 1921 M-N 1284
1284128,2 Ind Ill Si Ia 1st g 4s
95 Apr'08
95
95
1950 - J
Del Ely RR Bridge See Pa Bit
Lnt & Great Nor lat gOs 1919 11-N 103;1044 104 J'ne'08
101 109
92
92
92
94
2 904 9512
Denv & R Ur lat con g 48 1936
251 gold 5s
1404
80 J'ne'08
75
80
70
1909 M-S
98 Jan'06
Consol gold 44s
1930 j-j
98
98
60 Lict
1921 M-S
114
94
Improvement gold 58 1928 j-15
05
1 94 100
4rsal 1st gold 5s 1938 J-D 104;
olednt
9age
Io3w
10412 J'ne'08
100(4108(4
98 Feb 10.8
Rio Or Juno 1st gu g 58 1939 J -D
97
98
75;J'ne'Oe
78
71./
75
1951 M-S
76 Dec'06
Rio gr 8o 1st gold 48- 1940 -j
JeGtioelrdsons RR See
Guaranteed
85 Mar'08
1940 j.j
"WV '86 I/alA&GR SeeErie
L S&MS
89
Rio Gr West lat g 48.-1939 j j 86
83(4 904 Man & Mich See Tol & 0(1
74's J'ne'08
Mge and col trust 44A-19411 A-0 72% '14
KOFtS&M. .S'eeStL&SF
70
75
97 Jan'02
811
Utah Cent lstgu g4s a1917 A-0
KC&M.R&B SeestL&S
Des Mot & Ft D S'ee .51 & St L
Kan 0 & Piusitio Bee M K & T
110 Sep '04
Des Mol On By 1st g 53 1917 M-N
Kan City Sou 1st gold 38 1950 A-0
701
/
2 16 69
71
71
70
92 Mar'07
Det & Mack 1st lien g 4s 19115 J-1)
63 Oct .uu
85 Apr'08
(101(1 48
1995 J-D
t°yreti
80
Cent See L Si N
Kletnetgui k
83
1950
A
Detroit SouthernKeok Si Des Mo See C it IJ:,P
77;Jan '08
Ohio Son Div 1st g 4s 1941 M-S
79
7734 7735 Knoxville Si Ohio See So By
Dui& Iron Range liners-1937 A-0 109 110 108 J'ne'08
102 109%
ake Erie Si W 1st g 56 1937 J-J 10954
106(4110(4
109;Apr'08
Registered
1064 Mar'Ob
1937 A•0
108121064 1-42
0,1 goldhiSslat
s
100 101
101 Mar'08
1941 J-J
2(1 Os
1916 J -J
North
105 10512
1054 May'08
106
gu
g
58
A-0
1945
Dul Short Line See Nor Pao
L Sho 86 Mich S See .N Y Cent
Uul So Shore & Atl g 58 1937 J -J 109
108 Mar'08
11)718109
102(4105(4
Leh VaIN Y lat gu g 4413.11.140 J-J 10614
105;J'ne'06
14'ast of Minn SeeStPM&lil
1156 MaY'04
1940 J -J
1.
saat Ten Va & Ga Bee So By
Lehigh Vatl(Pa)cons g 4E1 2003 51-1,1
871
153; J'ne'08
; 95
Elgin Jot & East 1st g 58.194) M-N 107
106;May'08
108 108
10641064 Leh V Ter Ry 1st gu g 56 11541 A.0 113(4115 , 108 Jan '05
Elm Cort & No b'ee Leh& NI
Registered
10912 Oct '112
1941
A-0
96
Erie 1st ext gold 48
994 May'08
1947 M-N
99 105
106 10754
Leh V Coal Co 1st gu g 50 1933 J.J 1071
/
2
107% Mar"
20 ext gold 58
104(4 Apr'08
1919 31-S 1044
1014104; Leh do N Y lat guar g 4s 11145 11-S
95,9 97
u7 May'08
99 hliu'98
sa ext gold 4,
8
28
1023 M-8 99,
9334 1004
a
t ed18t
s
1945
31-S
.104 May'08
4th ext gold 56
1920 A-0 104
104 1146(4
1137. Jan'06
pr Os
102
1914
A-0
93 Dee'07
5th ext gold 4s
914
1928 J
Gold guar C's
1914 A-0 1014
105'4.11u,'06
1st consol gold Is
119 J'ne'08
1920 31-S 119
117 122
Leh 30 Iltid R !See Cent ot N J
1st CO11801 g fund Is
120 Jan'08
1920 Ni-S
120 1204 Leh Si Wilkeab See Centof NJ
Erie 1st con g 4s prior 1996 J -J
83
80(4 26 82
80
Leroy Si Caney Val See Mo P
1/0
79 Jan'Oe
Regtstered
1990 J -J
71)
Long Dock See Erie
79
1st oonsol gen lien g 4s 19015 J -J
0312 Sale 004
2.3
53
721
/
2
Long Isliti-let con g 5a.h1931 Q-J
105 11034
°V'
112 11034 Bfay'Oe
Registered
854 Feb'07
1990 J •J
1st consul gold4s
h1931 (4-J
954
Penn cell tr g 4s
1951 F-A
General gold 45
824 84 J'ne'08
67% 84%
02 May'08
1113e 4•D 914
83,
4 92;
50-year cony 4s A
615
1953 A- u 54
644
16 43
58
Ferry gold 4 hs
6278
1922 M-8 91
102 Nov'Ob
......
do
Series 13 1953 A-0
49
49
5 40
Gold 4s
56
994 Oct'00
1932
J•D
Eutllj Y & Erie 1st 78 1916 J-1)
118 Jan '08
118 118
Unified gold 4a
82 Jan'ut
1949 M-S
81.
82 '
Butt& S W gold 6s
10458 Feb.06
1908 J -J
Debenture old Oa
110 .1 - ne'04
19
94
39
4m
Chic & Erie 1st gold 58-1982 M-N 105% .
110 J'ins'08
108,4 112
90
944
95
J'ile'Ot•
92
1154
& Mahon Val g 58.1938 J -J 1034
1164Jan'05
Si& goldfMo t48
Guarnre
1.
15t g 615-1911 M-21 101
BIdy
Jed RR 1st gu g 58....a1909 A-0 984
984 Apr'08
US ti 981
/
2
99,4 Sop'07
1911 154971
......
Long Dock consol g 68 1935 A-0 122
Feb'08
124
121 124
NlY.13st51 B latcon 8531935 A-0 101
110-41Nov.06
Coal & RR 1st cur gu 66 1922 M-N
118 Sep '06
N Y & R 13 1st g 58
105 Apr'07
1142731-S
Dock & Imp 1st cur 66 1913 J -J
106 Mar'08
11;6 106
Nor ShB 1st con ggu58019152 Q-J
109 Nev'06
98
N J Si Green L gu g 515 1946 M-N
100 Feb'08
100 II))) Louisiana Si Ark 1st g 515.1927 M-S
98 Apr'08 .... 98
1/0
98
11SCELLANEOUS RON Ds-Continued on Next Page,
1
•
•
•
•
......
......
1
IJ
units and Electric Light
Gan and Electric Light
Atlanta 0 L Co 1st g 5s...1947 J-D
.... ..
Lac Gas LotSt L lat g 53.4919 Q-F 102 103 !102 J'ne'09
99 102;
Bklyn U Gas 1st con g 58 1945 M-N
103
103
and eat 18t g 5s
Ref
10041102 1000'07
1934 A-0
Butialo Gas 1st g 58
1947 A-0
56,2 504 T'ne'OS 7 .-95:13.! i.°011:14 Milwaukee Gas L 1st 48 1927 M-N
91 12Ian '07
Consol Oita cony deb 68.-1909 J J
127 127 4 J'ne'08
103 1304 NlGELIL&Pg5s1948 J -D
98
97 4 Sale 1 1)7(4
14 88 102
Detroit City Gas g 58
1023 J -J
98 J'IWO/3
Purchase money g 4s. .1949 F•A
9812
76
a2(4 82 J'ne'08
8234
Dot UM Co con 1st g 5s 1918 F -A
100 Apr'07
Ed El Ill 1st cony g 58 11)10 NI101
1004103
J'ne'08
98(4101
Ed El 11113kn See K Co E
P
1st consol gold 5s
1995 J -J 107 112 108 J'ne'u8
108 108
.1.11dE111 See 11 Y(1,312ELH&P
Ny&Q El L&P 18t con g 581930 F-A 89 1195
95 Apr Ili
Eq GLNY lat con g 53 1932
96 Mar'08
S 101
N Y & Rich Gaa let g 56.1921 M-N
96
96
11)318 Nov'05
Gas& Elec Berg Co g 53 1941.1 J -D
61 12 Oct '01
Pat Si Pas G & E con g58.1949 M.
104; Nov105
Gen Electric deb g 3(44-1942
A
76
79 J'ne'08
79
79
Peo Gas Si C let eon g 65 1943 A-0 113
80
112 Li May'Ob
107(4114(4
10-yr gdeb 58
1917 J -D 118;sale 118
11814 22 1004 122
Refunding gold 5s
1947
102(4103(4 t02e 102%
94 10278
GrItitp U L Co let g 66 1915 F -A
10734 Dec'00
96
CliG-L& Cke 1st gu g 58 1037 J• J 104.8
10318
28 104
Hudson Co Gas let g 5s 1041) M-N 9334
1014 Apr'08
G
1014 101 1,
Con Coot Ch lst gu gos.'36 J -D • 9U78
1004
2
loQ,
1004
93
14
Kan City(Mo)Gas lat g 5s1922 A-0
99 Dee'06
Mu Fuel Gas lat g-tt g
96(4
IA) Feb'Ut
/7 31-154
92 '10u
Kings Co El L & P g 5,5-1937 A-0 964
Syracuse Lighting 1st g 58.'51 J-D 00
Purchase money 6s
1997 A-0 1115 112 108 May'08
Trenton
103 108
G Si El 1st g 5a.1949
110 Msy'05
Ed El II Bkn lateen g 48 193,9 J -J
88
8854 88% J'ne'08
8:5
3834 Westchester Lightlic g 56.11.550 J •D 07 . 100 101,
2 Feb'07
'No price Friday; latest bid and asked this week.is Due Jan 6 Due ;pet) ci Due Apr eDIts .A.S7
.1101.4.4-urc u !Jae
Duo ,4c0 J
.cion
......
JUNE 27 1908,j
'BON Ds
N. Y. STOCK EXCHANGE
Wiwi; ENDO.% Strxn 26
New York Bond Record ---Contintwd.--Page 3
Price
Friday
June 26
Week's
Range or
Last Sate
8a
Range
1$0tce
January 1
BONDS
N. Y. STOCK EXCHANGE
WEEK ENDINO JOYS 26
4;11,
Pries
• .51,1av•June 26
1577
Week's
Range or
.Last Sate
"?.
Range
e,inec
January 1
Bid
Ask Lou;
_High
Low :nigh
Nigh No Low High N V Cent do 11 •11--(Continuett
Ask tow
Bia
D
112%117
Carr& Ad lstgn g 48. .1981 J,
117 J'ne'08
db Nasliv gen g 68.1930 J•••13 116
Uouv &()awe 1st gu g Os 1942 J -D
11011 1l078
11078J'ne.e8
.1937 M-N 110%
&Iohl 58...
98 Mat'08
98
Mob.& Mal 1st gu g 48..1991 41-S
08
22 95 IOU
99
11812 99' 98%
1440 J-J
Unified gold 48
105 Oct'02
NJ J tine R gu 1st 4s. .198(i F-A
101% j'ly'06
1940 J-J * 97%
• Registered
91 100 101%.Ply 10c
N Y & Harlem g 3'2s..2000 M-N
105 ]03
105 J'ue'08
1910 A-0 104
Sink Lund gold 68
110% May'07
N Y & North 1st g 5s...1927 A-0 105
1(12 105
102 J'ne'e8
1931 M-N 101
Coll trust gold 58
NY&Pu 18t con gu g 4s 1993 A-0 90 100 10114 Dee'06
94%
88
5-20-yr col tr deed g 48 1923 A-0 94 • 94% 94 J'ne'08
Nor & Mont 1st gu g 58.1916 A •0
111 Nov'07
EH & Nash 1st g 68.-19111 J -13 11018
107 'Nov'07
10314 104
eine Creek reg, emir 63.1932 J •D 116
104 Mar'08
LCin & Lex gold 412s 1931 .11-N 104
10878 111%
it W&()con lstext5s.h1022 A-0 110 114 111 J'ne'08
11514 117 '
11534 Jan'OS
1931 J -J 117
,N & AI 1st gold 6s
105 Jan '08
105 105
Oswe & R 2d gu g 58...e1915 F•A
12211 Mar'06
1980 J -J
gold Os
d3
'N
107% Aug'06
RW&OTR1st gug 56.1918 M-N
Pensacola Div gold(38-1920 M-S
'05
(Jut
May'07
10611
117
Rutland
1st
J
g
J
con
41-2s..11141
108
1921 M.
St L Div 1st gold Us
1 82
81
87
82 Salt 82
2Aug'07
/
621
Og&LChani lat gu 43 g1948 J-J
1980 M-5
2d gold 3s
85
85 Jan '0,85
• Rut-Canad 1st gu g 48.19411 J -J
86
89%
88 J'ne'08
AU Knox & Cin div 48 1955 M-N 8778 88
'06
Jan
122
St
'06
J'ly
109%
Law
116
&
-J
J
Adir
199(3
1st
5s.
g
Ati Knox & Nor 1st g 581946 J -0 105
125 125 •
125 Feb'u8
28 gold 68
2./1111'06
/
1081
Mender Bdge lat f g 68.1931 11-8
9934 9934
9934 Apr'us
94%
88
Utica & Blk
8938
- -O.1
J24
94% 1)4's J'ne'08
gu g 48.1
94
96
42
19
• Kentucky Cent gold 4s 1987 J • J
8934 94
97% 9 97% 97%
Lake Shore gold 3128.-1997 J-D
9714
89%, 91% 9111 J'ne'08
97
L&N&M&Mlstg41281945 31-111
112%
90
89
87
92% May'08
• Registered
82
82 J'ne'08
85
L& N-South DI joint 48.1952 J -J
93. 11 8878 95
:•238
93
11311 Mar'07
..
Debenture g 48
98
92
19
N1:313
7j
8 92
& 1st gu g 58 1937 F-A 108
•N
84
134 12
1/2%
8
683
25
Sale
02
g
-year
46
N&C Edge gen gu g4'28 1945 J -J 100
4
/
113 Jan '08
Ka A & G•R letguc5s.193
113 113
- 1 1101
J4
8M
1931
Pens do AU 1st gu g 68 1921 F-A 107
Oct '07
109
May'07
111
Mahon
RR
C'l
1st
107%
56
J
1034
-J
10514
F-A
S cfo N Ala con gu g 56-19313
166..100
100 May'08
Pitts & 1, Erie 26 g 5s.a1928 A-0 104
91% 91%
9112Jan'08
J..& Jell lidge Co au g 48 1945 M-S
130 J au'03
Pitts McK & Ylst gu 68.1932 J-J 120
L N. A & CIL See C I & L
115
2(1
Os
guar
ahon Coal See L S & MS
96
98
9614 11 92
McKees& 13V lstg681
4 j918
193
j 105
J-J
-Manhattan Ry consol46 1990 A-0 96% Salo 104 Apr'05
104 Deh'ut,
Mich Cent 1st consul 66.1909 61-9
1090 A-0
Registered
......
1027
8
109,
105 Dec'07
56
8
1027
4
8J'ne'08
993
8
1027
J
-J
Metropol El 1st g 68- 1908
Registered
119 J'ne'08
MoK'pt& B V See N Y Cent
92
4 Jan '07
1003
46
M
8
./
MQ
.1:
11
30
3
94
9
19
1
1
By
Man
See
El
Metropolitan
11
841%
84%
Si%
4
953
4
10611.Nov'Ou
-J
84
741
J
Registered
1940
J•J
liex Cent consol gold 46 1911
90
10
•J'ne'08
J L & S 1st g 3125
16
1011 J'ne'08
17
14% 20%
1951 41.9
1st consol income g 3s.a10:39
88
86
88
14% 15% 16% May'08
1952M
88 Apr'08
10
1st g 31•28
18%
26 consol income g 38..a11)39 J'ly
J
90%
'01
'iy
-D
-N
2
Bet
9
5
98
C
9
31.9
1
Stiulst
83
38.1
&
g
gu
Itlex Internet 1st con g 48.1977
4 9bas 101
80 reb'08
100
N VClitcS St L 1st g 4s 1037 A-0 100 sale 100
80
80
Stamped guaranteed....1977 M-S
105 May'00
10214 31ar'07
Registered
......
1910 J -9
Ilex North 1st gold 6s
103%
98 104
103
4
/
1931
103%
J
0
J
A
West
1st
61
:37
3
9
1
2
Shore
gu
4s
Mich Cent See 'N Y Cent
1 96%102
101% 102
Registered
MId ot N J See Erie
Y
N
&
1
"
ie
6
3
Er
2
W
See
Greenw
Lake
N
&
Chic
M 11 L S & W See
N
els Har See N Y 0& Had
Mil & North See Ch 61 d, St
128 Apr'08
Y Lack & W See D L di W
11511128
Minn cfo St L 1st gold 78 1927 J-D
101
101
31
Y
2
J-1)
LE& W Bee Erie
101
103
1909
7s
gold
Iowa Ex 1st
118 Jan '07
N Y & Long Br See Cent of NJ
Pacific) Ex 1st gold (3s 1921 A-0
11314 DI ar'03
• N it & H-Cony (S6 1948 J.J 125% Sal* 12365 12534 24 1151112718
South Werit Ex lst g 76 1910 J.13
86% 2 86% 88%
102% J'ne'08
86's Sale 8311
Cony deben 311s.
100 102%
1934 11-N 102
1956 2-i
1st consol gold 56
112 Mar'u8
112 112
70.4 80 J'ne'08
80
82
Housatonic R con g 58 1937 M-N 1 I134
1st and refund gold 48 1941) M-S
97 Apr'06
N H di 1)erby con cy 56 1918 M-N 104%
Des Al & Ft Li 1st gu 4s...'35 J-J
N
do
do
Y
N
North
It
B
BeeNYO&
Minn & St L gu Bee
97 May'08
95
92% 98
95% 96% 94
97
97
N Y 0& W ref 1st g 4s..g1992 M-S
97
1.118t13& SSM con g 4intgu'38 J -J
10118J'ne'08
99 102 J'ne'07
Regis $5,000 only
g1992 M-S
• SM & A 1st g 4lilt gu 1926 J -J
N
do
Y
Put SeeNYC&H
Minn Un See St P M &M
96% Sale 96%
96% 26 94
99
Y&IIB See Long Island
Mo Kan & Tex 1st g 46 1990 J
83%
34
83% 0 77% 84
83
N Y S & W See Erie
g2990 F-A
26 gold 4s
95 102
102 102 J'ne'08
N Y Tex & M Bee 8o Pao Co
1944 M-N
1st ext gold 58
99% 99%
101
7478 78
9911 J'ne'08
Nor & South 1st gba
2004 M-9
1941 M-N
7104 7634 J'ne'08
1st & refund 4s
120 120%
12018Jan '08
23 71
79
82
7834 Sale 75%
:Sort & West gen g 6s
1931 M-N 118
1936 J -J
Gen 8 I 4128
117',Jan'on
117% 117's
80% May'08
801183
Improvem't & ext g 68 1934 F-A 12o
2001 A-0 ▪ 80
' St L Div 1st ref g 48
127 Oct 'Oh •
New River 1st g (3s
102%102%
1932 A-0 118
Dal & Wa 1st gu g 58-1940 41-N 100 104 102¼ Apr'08
'J48414
3 92% 97%
87
87
N & W Ry 1st con g 48 1996 A-0 94% sio
87 Apr'08
Kan O& Pao lst g 48 1900 F-A
91 Sep '0i
105%107
107 May'08
Registered
Mo K & Ii. 1st gu g 58 1942 A•0 107
00
89
89 May',43 . 841
4 90
/
Div'l 1stI& gen g 48..19
102 104
J
4A
46
99
1942 M-N 10234 ...... 103 J'ne'08
51 K & Ok 1st gu 5s
83% 'it; 78
87
10-25 year cony 48
97%106%
102'2 Diay'uti
1932 2.1.) 82% Salo 82%
61 K & T off lat gu g 56 14142 31-S 10278
84
8838
83', 4 77
83
Pocah & C joint 48 1941 2-0 82
100%100%
' Sher Sit & So 1st gu g 58 1943 J -D 100%101% 100 J'ne'08
10912 Feb'uo
C & T 1st gu g 58
10211103
1922 J -J 100
, Tex& Okla 1st g-ug 5s 1943 M-9 101 104 10212.1'118'08
1
95
93%
03%
8712
93%
N
&
V
104%110
Salo
10765
It
1st
g
gu
106%
48
J'ne'08
31-N
M-N
1989
10734
1920
Ito Pacific 1st con g (Ss
North Illinois See Chi & N W
96
99
iltS
29 88
Trust gold 5s stamped.a1017 ND 5 90
North Ohio Bee L Erie & W
10411 Feb'07
a1917 31-5
Registered
Nor Pao-Prior lien g 48 1997 Q J 10176 Sale 10112 1017,, 48 09 102
97 J'ne'08
8778 98
96
1920 F- A
1st coil gold 56
9734 101
Registered
69%
70 'Ye 68
1997 Q-J 100 101 101 J'ne'utt
76%
1945 M-S • 69% 71
40-year gold loan 4s
73
71% lb 88
General lien gold 38....a2047(
95
95
95
11012
Mar'08
31-N
1938
4:k. 7114 Sale, 71%
3d.76 extd at 4%
Apr'08
r8% 70
70
68
6812
Registered
ad2909467
85
85
b'eb'08
85
Cent Br By 1st gu g 45 1919 0-A 82% 90
96%
89
St Paul-Dul Div g 4s.
3-0
84% Jan'08
96% 9612Jan'08
83% 8414
'Con Branch U P let g 48 1948 J •D
Dul Short L 1st gu 58..191e 21-S
110 Mar'06
• Leroy&O VA Llstg58 1926 J -J
C B & Q coil tr 46 See Gt Nor
99% Feb'08
99'4 119%
'Pao Rot Mo 1st ex g 48.1038
116 117
116 Mar 08
112 Dee'07
St P & N P gen g 68. .1923 F-A 11834
2d extended gold 5s 1038 J -J
110 116
116 May'v8
Registered certitio's..1923 Q-F 117
103 110
St L Ir AI& Sgen con g 581031 A-0 106 106% 10618J'ne'U8
1,7
11714 PLY'
St Paul & Dul 1st 58....1931 F-A 108
10(3 May'08
100 106
Gen con stamp gtd g 5s1931 A-0 ......
103
102 102
102 blay'oo
77%
76
77%
26 5s
1 (38
80
77
United & ref gold 48 1929 J .J
0812 Oct 'tit)
8234
196
83 J'ne'08 . 16
1st consol gold 4s
J
7A
18
8614
Riv & G Div 1st g 46 1933 M-N
•
81
93 Iday'Ut•
1948 (4-M
Wash Cent 1st g 4s
10711 Apr'06
Verdi V I do W 1st g 56 1926 M-S
115 May'08
112 115
98 Dec'06
Nor Pao Ter Co let g 6s1933 J -J 11334
Mob J & K C 1st cons g58 1053 J -J
119 May'08
113 119
Nor ay Cal bee So Pao
Mob & Ohio new gold138-14127 J •D 113
105% 105:
Nor Wis 'See C St P
10511 Jan'08
&0
4
1st extension gold Os-411127 Q-J 108
8414 84 14 Nor & Mont See N Y Cent
80% 84% Feb.08
1938 31-5 a.
' General. gold 48
%1nt1diW See C C C & St L
10211 May'08
102%102%
Montgom Div 1st g 58 1947 Q.F -A 10414
Jhio Riv RR See nen & U
75
'75
75 May'08
F
St L & Cairo coil g 4s...811.130 J.J
Nov114
Ore
& Cal See Sonia co
10/
1931
4s
g
Guaranteed
Ore Short Line . See On Pao
M do 0 coil 4s See Southern
Oswego & Rome Bee N Y
Mohawk & Mal BeeN Y C& H
OIJFdiSIP See C & .N W
Monongahela Itiv See B &0
10112 10634
Dac Coast Co 1st g
J-D 104 106 105 Z'ne'08
&
Mont Cent See St P
1 ac of Missouri Bee Me Pac
5Iorgan's La & T See S P Co
J'ne'ur
103
102 105
103
Penn
1st
RR
real
est
M-N
g48.1923
W
Morris & Essex See Del L&
Consol gold Os
lob Nov'O.
1919 31-9
11011 110% 2 110%114%
ash Chat & St List 78 1013 J -J 11534
9914
Consoi gold 43
4 105% 110
101 Dec'u7
110
109
1928 A-0 109%
1st consol gold 58
Consul gold 46 (w 1)-1943
N 101% Sale 10111 101% IS 100 10134
m-N
948 M
11612 May'07
Jasper Branch 1st g 68 1923 J -J
W.% 32 91% 96%
9636 sale
Convertible g 3128
VIS
1912 m•N
11711 Mar'06
W & Al 1st 68 1917 J•J
9314
Sale •9134
92% 37- 88
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1915 -I)
113 J'ly'04
1917 J -J
T & P Branch 1st
J'ne'o,
05
gen
Val
Oil
gu
412
g
Alleg
341942
...... ••••
L& N
Os...
Nash Flor & Shot See
D R it B.& Bge lst gu 46 g '36 F-A
99 100%
100 Apr'055
Nat of Mex prior lion 4113 1926 J.J
10742 Oct '0,,
Phila Hal & W 1st g 4s.1943 31-N
82
'17 82
82 J'nb'08
1951 A-0
1st consol 48
itrz J an 'DA
Sod Bay di So lst g 58 1924 22
New/i&D iseeNYNH&H
11011 Sep '114
UN J RR & Can gen 48 1944 M-S
N J Juno RR See N Y Cent
i 0234 10565
105% 11
Penn Co-Guar lilt g 4128 1921 J -J 105'-,
5
'
New & Cin Edge des Lou& N
J'ly'07
10378
104
Registered
1921 J -J
N iBkIn & Man 13ch See L I
83%
,91)11J'ne'Uti
12 8712 9314
93
93
Guar 3%8 colt trust reg 1937
92%
94
Cent& It Riv g 3128 1997 J-J
N
8614 86%
8611 May'07
Guar 3128 colt tr ser 13. 1041 F-A 89'4
90 J'ne'Off.,
88% 89%
Registered
1097 J -J
114 1.1
1)211 65
96 J'ne'u,
6
04
Tr Co certir8 gu g 423.1916 31.-N
1934 M-N • 1)4 8alis 93•
Deben g 4s
84% 84%
4 Fel.008
/
t-41
8.34 93
8034
75
Gu :3,28,1r ars0
80%
82
Lake Shore coil g 3'24 1998 F-A 8"¼ 81
8134
90 % Mar'06
2
42 .1
944
19
73
G • 3.126 tr ctfs D
79
Registered
8011 7811 J'ne'08
80%
1908 F-A
-LW; •
.
.U(*)
92 %Apr..*
1 74% 81
81
GuarA5-25 year g 4s. 1931 A-0 95%
Mich Cent coil g 3128- 1998 F-A••• 81
97
11U JILL.01)
Cl & Mar 1st gu g 4126 1935 ivi-14
78 Apr'08
80
'76
76
1998 F-A
Registered
108
Aug'03
......
108%
-J
J
Feh'07
A.'42
Ger
8
967
412s
g
102
gu
gen
P
&
48
g
J
gu
•
J
let
1936
......
Beech Creek
1942 A-0 11/434
102 Mar'04
Series B
1936 J -J
Registered
lo 98% Dee'O.
87%
11148 31-N
Series C 311s
1936 J -J 102
2,1 gu gold 58
- .90 May u8
87%
1950 F.A
......
•
tierlem 1)3 12s
•
•
.
•
A-0
•.....
Beech Cr Ex t lat ti 3 1-18 51951
•
0,•
111SGEL11. 1151P.OUS BON OS-Contintie'd on Next Page
N
Telegraph and Telephone
Coal and Iron
,88%
751
8918 8`'• J'ne'08
Mn Telep & Tel cell tr 4s 1929 J-J
8234 May'03
83
79% 83
Col F & 1 Co gen s g 56..1943 F-A
8'11 375 84% 86
1936 M-S 84% salt 5414
70
Convertible 4s.
70
5 5(3 70
75
Convertible deb g 58....1911 F-A
-)34 Mar'..8
8534 8334
J
COInill Cable Co 1st g 48 239,
107410ct'04
Col Fuel Co gen gold 68.1919 M-14
104 Feb'04
g 58
1918 al-N
10238 Apr'06
Met 1:& T 1st
Gr Itiv Coal do C 1st g 661919 A-0
4 132%
/
1421
102
92.2 Fele08
95 Apr'02
Mich. State Telep. lat 58 1924 F-A
Cleart lilt Coal 1st t 48-1940 J -J
94
3: 84
89
86
80
86
03 128
6212 Salo 60%
West Union col Li- cur 58 1938 2-2
Col Indu 1st& roll Os tru..1934 F-A
88
2 81
85%
85%
85%
led and real eat g 4128 1950 M-N
10738 Dec'04
Contin'tal Clots t gu5sg.11152 F-A
81
75
80 May'08
79
Cony 48, Series A
107 May'97
Jett doClear C & I 1st g 53.1920 J-D
N
M-\
100 104 A.pr107
1 31
916
Slut Uu Tel is Lund 6s. 193
10511 Dec'06
g 56.11151 J -J
Kan & 1lCdi lat
105 Oct '0(1
Pleas Val Coal 1st g s t 58.1928 I-J
ilanuln.cturing .5: Industrial
80
78 Feb'07
Sunday Creek Co g 58.-1944 J -J
9134 92
92%
92
1915 Q•F
917
11 86
97% 97%
97%
96
.8211 97% Am Cot Oil ext 4%s
1951 J • J
Tenn Coal gen 56
88 Sale 88%
881
2 1 73% 88%
/
Mu Hide & L 1st at g 68 1919 61-S
100 106
renn Div 18t g 6s
al017 A-0 106 108 106 J'ne'08
58% 70%
68 Put'uti
70
108 12 J'ne'08
911 10SN Amer Ice Secur deb g68 11)25 A-0 68
J3irm Div 1st consol 68..1917 J -J 108%
91 100
97 bia.008
100
Am Spirits Mfg 1st g 68 1915 M-13
102 103
Caji C 51 Co 1st gu g 68.1922 3•13 103 108 102 Apr 408
88
83
88 J'ne'08
8711
101. AI av'08
Din 101
Mn Thread let col tr 4s 1919 2-3
Debar C & 100 gu g 08.1910 F-A
,, salt 14411 1•0511 59 96N 11.665
88 J'ne'08
80
Va iron Coal &Colst g 58 1949 M-5 87%
88% Am Tobacco 40-yr g Us. l944 A-0 104,
12
60
72%
72
ale
72%
,
72%
A
F.
1951
'07
Feb
4s
93%
Victor Fuel lit s t Be
1953 J -J
,
DUe Vly gime Aug • Due oat p D ae ov qDne.oao 'Option
*No price Friday; latest bid antiasked. aDue Jan bDuc Feb cDue 31.sar d Due .Apr
----
I578
no 1.1!•
N. Y. &Mc:1i EX 013 A AGE
N.VEgg liantgia JUNK 26
New York Bond Record-concluded- Page 4
1,.rt dab
June VS
WeeIC'
Range or
Last Sale
=
Range
Since
lanisarg
BON Os
N. Y. STOCK lt'WHANII b.
Witalc Exuato JuNg 26
Price
Friday
June 26
[VOL. LXXXVI.
Range or
Las( Sate
G
Rauou
-Vince
January I
Penn Co-I Logtmt,eu
d,ASA Low
to No Low 11 ign southern) Pac co--((outman.,
lito1, Xe 1,o,e iiaga
how
Erie & Pitts gu g 31
1)2 Apr'07
/
4s 13.194i, J .;
8734
11111
/
4 1211,
121 12
Morgan's La & T 1st 75-11/10 A 0 11.2
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981
/
4 Apt '04
/
4
1940 J • J
871
let gold 6a
116 No‘'116
......
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105 sop '06
11.5
/
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112 Feb"
Pitts Ft W& C lat 714...1912 J J 1991
127% Oct '02
/
4
103 J'ne'.
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102 1,13
19
1 11.2
3
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2
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1
267s
119 J'ne'06
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/
4
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119 Apr'04
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41912 A•0 101/1
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101,
,
De6•07
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107 J'ne'08
1
4.
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1043: A-0 107 /
10'71
/
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con
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g
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104 Apr't)8
104 104
1.93 31
2--.1
N lt,4
100/
1
4 Mar'07
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96
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934 91 May'09
/
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90
91
Feli'07
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W.
,"
Ls
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1953 J •D
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UM gold 5s
118 Ls Apr'08
1948 J -J
081
/
4
11'2 May'08
/
4
C St L & P let con g 56.1932 A-0 1121
109 11'1
92
o Pac
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let ref 444
112,4 ,0
/
4 9312
871
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89½ 99
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1111.2
1994
11'66
8J½03
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1994 .1 • J
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Develop & gen 48 Ser A 1956 A-0
7./
1
4 I 2•11e'08
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97 10034 Dee'0:.
51921 M-N
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771
/
4
821
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1938
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109 Apr'02
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,03 J'he'08
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96 103
1
4-65 141116 J -J 1113
112's Aug'07
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80
821
/
4
J'ne'w.
kit
Louis
82
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let
1951
69
g
J
4s
J
100/
1
4 Apr'07
99
19311 41-11
let consol gold ins
113 Jun '06
Ala Con it let g Os
1001
/
4 May'08
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1001
/
4 10004
06 3'ids'Ou
83
.
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.1
194
91'4
u .J1 - j
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92 J'ue'Ut.
2,1 45
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/
4 Mar'06
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111 Iren'01
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1916 J -J 106
1161
/
4 Apr'08
97
Philippine Ry 1st 31)-yr 8246'37 J •J
961
/
4 07
'II
11058
E T Va & Oa Div g bs 11.130 J • J 102
Cu
Pitts t..,11.1de 81 L., See
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108
11166 51•N 105 105, 1415½ J'ne'07,
Pitts Cleve& Tol see 13 & 0
99 May'',
E Ten reor lien g be
102
1)7
99 1938
05Penn
Co
See
Pate It W
65 !Sep '07
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68
1946 4•0
Pitts MCKees & Y Set N VCeu
Ga Pac By let g(.15
1002
May'08
100 109.s
1922 J -J
1091
/
4
/
4 Feb'08
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1081
/
4 109'4
108 Jun 4.8
Knox & Ohio let g 6s 1925 J • J 11.81
/
4
107 108
231
/
4 J'iy '117
let consul gold be
11538 Apeoi,
mut)& Sir prior den g be 1945 J -J
:15
194'4 2.2
Pitts & West bee &
103 Oct '03
Mortgage gold 48
76
194:, 2 • J
1997 2-2
/
4
98/
1
4Sale 981
9834 b& 93
Peading Co geu g 48
99
103 Alar'08
Rush & Dan con g tis
101 107
11115 J -J 108
97/
1997 J •J
1
4 J'ile
97
1.1, Registered
90
971
/
4
92 J'Ite'08
Deb as stamped
1027 A-0 9414
112
112
1951 A 0
93'4 12 86
Jersey Cent cod g
93% 113'4
941
/
4
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943 Fou'05
4•N
Rensseiner & bar See
48..
1.) & LI
9734 Apr'08
So Car &
96
let
M-N
95.s
g
1910
bs
974
Rich & Inin See South ity
112 Out '06
Virginia Mid 8er C 68-1911i
104
Rich & Meek See Southern
/
4 Dot
1081
series D 4-58
99
1921 M-8
Rio Or West See Den 86 Rio Or
113 Dec'0,
Soma E 56
99
1926
m-S
Hoch & Pate Bee II R&P
General be
lt12
*102
blarOs
10141103
0A-1.
Rome Wat & Og See N Y. Cent
107 Alai.°,
Guar stamped
1936 81-N *102
Rutland See A Y Cent
116lb Jan '0
W 0& W lat cy gu 4s-1924 F-A
83
jag 'rus & H See Pere Marq_
West /8 C let con it 68 1014 • J 104
1051
/
4811)
'
07
...
LitJo & Or tel Ist g 48-11.147 J •J
85 May'08
861
/
2
2
85
8 & N Ala bee L & N
St L ,k Cairo See Mob & °Imo
117 •I'ly
ok Falls & Nor let g 68.1939 J J
St .L & lrun Mount ,see MP
Mayo"
105
"er A of St L lat g 41
103
102 105.
/
48 1939 A-0
St L K (;& N See %Valued,
1101
/
4 Fen'08
let con gold 5s....1894-1944 to-A 109
1091
/
4111.
St L M Br See'r RR A ot St 1,
941
/
4 J'ne'08
Gen refund s I g 46
06
901
J
/
4 941
/
4
St Louis & San FrauciscoDee'06
111
St DM 13ge Ter gu g 58 195
1120
19311
3 A-0
1931 j 2 116 128 1141
/
4Apr'08
General gold 138
113 1143, £ex&NO See So Pao Co
108
/
1931 j.2 1071
4 108 108
General gold be
1 103 1081
/
4 20 99 1121
/
4 1081
1071
/
4 Tex & Pao let gold be
2000 J-D *104
/
4
90 Jan '08
.1.J
tit L & S a' Rit t-ons g
90
90
112 Nov'06
26 gold Inc 58
q201/1/ Mat
100 100
100 May'08
Southw Div 1st g 58-11.147 A•0 95
110 Mar'06
1.a Div 13 L 1st g 58
J
•
J
1931
Relunding g 4s
69/
1
4 Sale 138701
/
4 ,74 67
1951 J • J
75
1061
/
4 Nov'04
W Min NV& N W let gu 5s'30 F-A
....
......
918 Nov'Ot3
/
4 190,J •D
5-year gold notes 41
102½ Feb
j
10818
Tol & 0 C 1st g be
102 103/
1
4
1
4g111119 2.0
StL M.& So East gu 4/
111 May'04
102
A-0
Western
Div
let
9
3
35
gbh
5
1
9
113 biar'08
K C Ft S ,t) M con g Us 1U2 ey,-A 115
Ill 1141
1111
/
4 May'08
/
4
General gold 5s
J.1. 97
951
/
4 OS
72
70
K0Ft & 11 Ry ref g 48 1036 A-0 70 %au
4 6634 74%
'08
Jai,
89
Kan &
88
84
89
lat gu g 4s
1990
936 A-0
KO& 31 R& B lat gu 5,4.1921,
8242 May'.8
83
Jo! P & W let gold. 45
81
761
/
4 83
1917 J -1
90 Dec'07
99
Oa'rk& Oh t; lst,gu 5s 5.1913 A-0
87 May'08
89
'rot St 1.& W pr lien g 3/
80
87
1
48.1925 2.2
St Louis So See Illinois Cent
72Ls
/
4 74
5 -year gold 4s
67
74
0 A-0 721
871
87/
/
4 88
1
4J'ne'08
St L W let g 40 bei citis.1981) 3.1-84
841
/
01 Deo'Ou
4 90
'for Ham & Buff 1st g 46./41
11i
194
70
70 May'08
20 g 48 me bond otls...p11/89 j.2
85
103
103
70
later& Del let eon g 58 1928 24) 193
104 105
193:4 J -D
eb1
Consol gold 48
66
/
4 67
69
'22 gii
93 Sep '06
59
681
1st refund g 45
/
4
1952 A-0
Gray's Pt Ter 1st gu g 56 1947 J •D
• 1011
/
4 Apr'07
1
4Saio 102
......
1023
,L12 99 102/
Un Pao R11& 1 gr g 48_1947 J .2 102/
1
4
St Paul & Dul bee or Pacific
&W I./ J'ne'08
Registered
/
4
98 1001
1947 .1-2 4.1006,,
/
410414 1031
St Paul 11 & Man 20 68 119/1)A-0 1031
/
2 1031
/
4 4 10214 10468
95,
9538 87 951
8
let & ref 4s(w
8ale
95.4
M-S
951
/
4
p21108
/
4
cousel
1933
Os
gold
-2
12878130 1281
let
J
/
4 May'08 ... 1261
/
4120/
20-yr cony 48
9178 63 83
9114 Sale 91 18
1
4
/
4
951
1927 J -J
Registered
1933 j•J 124
134 Deo'66
(,5L
95's 3 91
Ore Ry S. Nay con g 4e 1946 .1.) 195's
971
/
4
Reduced to gold 41
/
4a-11133 J • J 1071
/
4 108 1071
/
4 11/8
7 102 108
121
Ality'08
Short
120
Ore
F
Line
lstg6s
122
121
•
194
1922
113
•
.
6
Registered
1933 J -J 1004
1161
/
4 Apr 911
let euneol g be
J -J 1141
/
4 dal. 11334 114'8
31 106 1141
/
4
Dakota ext gold 68
1910 :0-81 1041
/
4 May'04
/
410414 1041
1041
/
4 10534
Guar rotund 4s
591
/
4 28 85's 93
810 Sale 89
1921 J -D
19
Mont ext let gold 48- 1937 J •D
97/
1
4 1s9 Apr'08
94
99
Registered
J
-D
8794 Mai'67 •.•. ......
Registered
1937 J -D
/
4 Oct '06
1001
Utah
4tb
103
100
Oct 917
Nor let 7s
11108 J -J
K Minn Nor Div lat g 4141948 4.0 95
Gold be
1031
/
4 J'ly 907
1926 J • J 107
Minn Union lst g
J -J 110
124 May'05
..
Uni N J Rit db CC* tire Pa, RR
MoutC let gu g ds
1937 J-.) 130 132 130 Apr'lia .... 128 130
Utah Central See Rio Or Wee
Registered
1937 J •.1
1361
/
4 May'06 •
Utah & North See Lin Pandit;
..
1st guar gold be
1937 J • J 113
1111
/
4 Apr'011 .... 1111
/
41111
/
4 Utaeit & 131aek /4 See NCent
Will db S let gold bs 11/3z, J
1151
1121
/
4
/
4 Daa'96 ..• .....
V antialla comma g 4s
.1955 F•A
041
/
4 Oct '07
...... •••., •
tit.P & Nur Pao See N or Pac
V era Cruz &Plat gu4/
98 Sep '00
1
461934 J -J
......
13tPdb S'x City ,S'eeC St P &,)
Ver Val Ind & vr 68e
A& A Pass lstgu g4s 1943 J -J
83
64
84
94'2
Virginia Mid See South RI
78
86
8 118) P,res dr Ph Int 8 iis.„19.4:4
IOU
. 102 Sep'07
Vs & bouthw't 1st gu 55 2003 J •J 1071
/
4 111 10711 11o.y108
99 110
Y& 24'
let elukE g 58.191u J -J
110 0,44, '115
W abash let gold be
1931.11.4-81 1114 88.- 10334 1U4
8 102 16934
Say F & West Bee All Coast
2,1 gold be
90
90
1
841
/
4 94
&Moto Val &
See Nor &
Debenture series A
1931U JF:A
J
90 Sale 90 J'ne'07
Seaboard Air Line g 4s-1950 4.0 53/
531
/
4
1
4
641
/
4 15 431
Series B
/
4 1511
54 May'08
56
37
Coll ix refund g 58
1911 M-N
88
58
88
let lien equips Id g 55 1
1 861
/
4 88
31Uj
j 63
M-8
102 Feb'08
111
92
190 102
Ati-Birm 30-yr'st g 43.61933 M-8
86 Jan'07
let lien 50 yr g term 4a-1954 J
113
q)kI.
Car Cent let con g 4s 1941, J•J
0131
/
4 Mar'06
1st ref and ext g 48
531
/
4 Sale
J-2
52
53½ 13 371
/
2 6834
Fla Can & Fen let g bs 191e J • J
107 1071
/
4 Aug'06
Det 411, Ch Kit
10'0 Apr'08
g bs 11141 J -J
100 100
let land gr eat g 5a -1930 J -J
Dee Meta DlY let g 48-1936 2-2
97 Nov.04
Consul gold be
11443 2-2
1091
/
4 Mael)
om Div let g 3/
1185 80 b'eu'o7
1
4
Ga & Ala 147 let con as o1946 J -J
961
/
4 100
86/
1
4 May'08 ...
Tel & Ch Div 1st g 48_19
2
961
/
4
94
41 M
A:°
US
961
/
4 J'ne'01
Ga Car & No 1st gug be 1926 .1 • 2
110 Jan'05 .••. ......
St Chas Bridge 1st g 613.1908 A-0
100 Mu.).07
leab & Roe 1st be
1926 2.2
971
106 Mar'07 •
/
4
Pitts
With
Term let g 46.1954 2-1) 44 Salt
....
4'2
45
66
1/8 41
Sher bTbr & So ties
K&T
ye25
kha
arrgen
old 4. De,Lae ot, W1e9
a6
t4 2.1) 10 Salt
111
/
4
8/
1
4 19
101
/
4
till Sp 0514,6 13 &sail Coaet L
So Car & Ga See Southern
Wash Omit /Ms Nor Pas
Southern Pacine CoWash t)& W See Moutkern
tton'44(Celli.l'aocoll).k1941) J.D 061
/
4 86
8511
Wash Ternal lat gu /
83% 9 $3% 8$
1
44.•1941, F-A
1
42'ly'07
87/
Registered
k1941, J
54 I'aplog
Weat NEArYlend /fit g 44...19511 .L-0 68
69
69
49 49
'79
62½
Cent Pao 1st ref gu g 431946 r- A
971
/
2
971
/
4 Salt
U734
Gen & eunva-ab
94
90
30
47
40 Ida).08
Registered
0384 J'ne'07
1949 b'-A
Nor Va Coat & P 1st g Os ).9612
19 1 A
.1 4
•1 101
100½ A ug'Ut.
Mort guar gold 31
/
4s..41929 J -1) 841
84'21'11068
851
/
4'
/
4
.... 80
Well N 11 & Pa lit g Cie.:2947 2
86
May'Vb
1081
113
114
Ls
/
4
1141
/
4
114',
Throagh SIb 1st gu 48'54 A-0 901
901
/
4 May'08
/
4
Gem gold 3-4A...
88
991
871g 311» '01•
/
4
91)
la 871
/
4
Oa/ Mar & 8 A lat 63-191t, F•A 1011
193 Apr't/7
/
4
Nov
ieeWo
34
Meg & Pan let g 68-.1931 M-11 1021
101 JAL'08
/
4
Wirt It
197 107
eCar
6i bee South '11-141y994443
"
9.1 k.*
Gila V & N let gu g5s-1934 M-N
/
4May'08
196 1011
1011
/
41911
/
4 wpeerg & L let g be. .1920 A-0 95
100 107
102 J'nee08
Hoes kde W T let g 58.1983 M-14
101 Jan'08
Wheel Div let gold Si..192e ..1
1119 103
102 103 INILu'Os
1st guar be red
1933 M-14
1051
/
4 104 Aug9,9,
1010 161
Exteu & Imp geld 5s. 11140 F -A
/
4 Jun '08
981
9404
L.4
& T C 1st g 6s int gu 1937 J -J 119
11'2 May'04
1004 112
BM let °ousel 4e.........1949 14•11
litiS
901
titI1
/
4
/
4 Sale
tso 7211
Newel g 6e int guar 191;) 4..0 109½
11/71
/
4 Nov'07
'20-year equip elba ...1$22 1- J
1U7
Oct
104
(lea geld 4s tat guar -1921 A-0 91)
93 J'ne'0.
87
98
2 43
Wilkea & Eatd Bee Erie
Was°& N W tliv 114038'30 M-K
116 1)ee'IR3
Wil Sioux P Ste SLY lk& ).1
......
& & N W 1st gu g 5s
1001
11)41 2.2
/
4 Feb'06
Wee Cant 60-yr let gen 011949 J J
851
/
4 301 94
1
4 Sale 8538
85/
86
311:44.,ELLAAKOUti 130:81148-4oneitmbem
.11anatitemerktor 4% Industrial
.1ktneelluipeoets
Bett, Steel let ext of 5...19211 2-2 ....
96
96 May'08
Adams Ex eel Cr q 4s
96
95
1948 AC& 8704 88't 88 J'ne'f)
Cent Leather 20-year g be.1925 A.0 94; 114's 94
Aita.158
Cost
ii5,
9
981
/
4
Va g bs
1,401
/
4 .1'1,0'02
10911 111.-N
Comm!TeImmo° bO•yr g 14.1951 P-A
70
721
/
4 72
72
82
rei1y0o 1st°ems g be
721
/
4
41 Oet
Y-A
DLitt'Sootier cony let g 55.'27 A-0 T11
71
/
4
711
/
4
utuoaJo
(1,
84
'16
Mt
Yard
eel
100
Jan '.1.1
glis.1911)
J
•
J
Paper
CO let con g 66 1918 F -A 1011
00 1(n)
Int
/
4 Saki 101's 1031
104 105
Uetlf&Ml41grm.suae.19l1 A-0.
40
47 Apr'08
Consul momY s f g 68
1985 J•J
804 801
/
2 51
Int Mclean Marime 4/
79
116
1
444 1.1Jatt A-0 44 70
661
/
4
41111
/
4
Int Se Pump 10-yr cony.64'13 J •J
94 J'ne'08
Oils 96
lit liavigatma let s f 5,3 1922 F
90
80
88
84
8445•918
/
4
821
Lackaw *Wel let g 5s
76
82
1923 A•0
/
901
4
/
4
991
/
4 901
84
91
& 1, gee g4 1940 -9-84
54)
Nat*meta Mig Co let g 13;3192t/ M-21 80
891
/
4 Aug'07
Newp e Ship & 1) 1)54441999 J•J
..
07
Nat Btmrek Co a I deb 86 19:45 J J
70 Ap.r'07
70
241
Beek
60yr
1st
g
40
1951
Apr'08
85
F-A
P0½
foi
99
Arr :wake let cony 6s'148 14-N
/
4
47
81
87's S71
Providence See deb 4e.. 1957 M-N
94
85 oat '07
Revd,I &8 1st& eoltr be.1994 A-0 934i Bale 931
/
4
04
prevalent Loan .844c 41
in/
1
4 lid
/
48 1921 M-6 88
55 May'00
SI .55..
U 3 Lestk Vet s I deb A,.68 1913 M-13 105 Ws 108 May'08
101 197
8t3e'10phStk
Yds
1st
4
Vi
1001
193U J -J
/
4 riep '94
......
U S Meetly & I °env deb gbe
J791
/
4
70 La
81
641
st L '1',ir(209)tee IStall'e. EY Prop
/
4 41
U S *Mel Corp-- j coup .81963
94
96/
1
4Sale 96
Co 1s4 g 4./
tibia 97I,
1
48 5-20 year-1917 2 -11
SI 16-90 yr be. reg ...411/63 M N
I/61
/
2 96
961
/
4
Yuba Wat Co con g Us .1U22 J -J
8534 116/
8
1
4
110 Jiy'04
Va-Omr
col tr Os g 1912 A-0 1001
11191
/
4 1001
/
4
/
4
89 10014 -4p Val %Vat Works 1st 68.190e 1-S
1181
/
4 Ply 'Off •
Westinghouse E & Mat Se '81 J • J
79
83
86
67
S Red & 11cr let stg 641.1931
811
/
4
OS/
1
4 85 Apr'08
78
96
No price Friday; lateat bld and asked this week. 44 Due J an bDuo et) 8 Due Apr a Due
ay g Dan J'ne A Due j•ly p Das Nov rOntlou 851
y
U
0' 11
CHICAGO STOOK f-AqH1-Stook Record -laity, v1G)eiciv and Yelriv
_
-
57'OCKS-111WiltS7' AND LOWItst .• A Lls
Saturday
June 20.
Monday
June 22.
Tuesday
June 23.
11 ednevia
June 24.
nursday
June 25.
Friday
June 26.
190 *160 190 *160 190
*212 '
3
212 212
10
*8
8
10
43
42.
42
4212 43
19
19
1918 1834 19
Last Sale 170 May'08
*212 ____
*212 3
May'08
Last Sale 3
4212 4212 4212 4212
1914 1914 *1834 1512
May'Oa
Last Sale 4
Last Sale 18
July'07
4213 *42
4212 *42
43
43
e42
4212 43
;41 i271-3 *42
*74
75
*7412 75
Last Sal, 15
June'08
*7412 75
75
11112
17
Last Sale 17
June'08
17 *__ 1612
*47
50
50
50
*47
Last Salt 4934 June'08
*47
50
*47
44
44
Last Sag 4612 May'08
a_ 45 *____ 45
21
Last Sale 20
2012
21
May'08
21
58
*32
58
58
*52
Last Sate 56
*52
May'06
58
*52
56
56
56
56
*54
*54
*54
*54
55
5314 54
55
2814 2834 2814 2838 2814 2314 2814 2338 2814 2814 2812 2812
*9712 08
99
*9712 93
971, 99
*98
99
9834 9912
*98
23
*27
*27
28
28
*27
28
Last Sale- 23
June'08
*27
*160 190 *160
*212
*212 3
*8
8
*43
42
44
1834
*19
20
434 *412 41,
44 458
412 412
412
434
5434 5334 5.31 *5:i12 5412 *5312 5412 5312 5334
14728 *140 147-, *140 14758
Apros
Last Sale 145
126 *116 126 *116 126
Last Sal. 11612 May'08
42
42
42
44
*42
44
*42
4212 4212
*--_ 10012 *__ 1001
Last Sale 10012 J'ne'Oa
Jan'08
Last Salt 42
1926 26 *26 11" *26 27 *25 2612 *25
20
*95 97 *95 97 *95 97 96 96 *94 96
96
*4812 4912 *4812 4912 *--_ 4812 *--- 4812 Last Sale 49 June'08
Last Sale 147 May'08
118 -WC --11*1
8 *1
-118
118
Oet'07
Last Salt 1
4
*3
4
*3
4
*3
*313 4
Apr'08
Last Sale 4
*25
2514 2514 *25
26
26
2531 *24
25
25
25
*23
130 13012 13012 133
130 130
*130 131
130 13012 130
13018
Last Sale 214
lach'08
*10714
10714
2
1:
67
1
icifF 10712 1611-2 *10712 108 *10712 108
*hi/
9612 97
*97
0612 961, *9612 97 98 98
12634 12712 127 12712 12712 12712 12714 11/1-2
12734 12734 12714 128
34
*--- 34
3338 34
*33
3412 *3312 34
34
3412 34
_
_
--Last Sale 3114 Nov'05
-----Last Salt 80 ' Feb'06
---Last Sale 39
June'08
Last Sale 212 June'07
19
19
19
16
s;i514 8412 ;5514 I4-1-2 *8334 8412 *3312 8412 8378 "8378 -8
17
84
11438 11433 11414 11414 114 11412 *114 115
*11334 115
69
*69
69
69
75
69
*09
*67
6912 ;sig.. "'hi*111 112 *111 112 *11012 111 *11012 111 *111 112
m 111
Last Sale 534
May'05
92
92
*31
33 *31 33 *31 33 *31 33
Last Sate 40*8713 8812 *.ss so 88 88 89 89 88 88 88 88
101 101
10114 10114 191 19114 10034 101
10058 10034 100% 10058
125 *-__- 125 *124 125 *124 125
125 •
124
126
97
9712 9714 9714 97
*97
*97
98
*9714 98
*9712 98
8
7
*5,
8
7
78
34
78
34
*58
*168 178
34
34
434 5
478 568
412 434
434 478
434
434
512 512
*1412 16
1(1
*1412 16
*1412 16
1412 1412 *14
*14
1512
434
55
*140
*116
*42
*___
412
434
55
5412
14758 *140
126 *116
44
42
10012• __
Last
Last
Last
1an
Sale 3213
Sale 10
Sale 16
gale 4
Jan'07
Nov'06
May'07
Noc'06
Sates
0/ the
Weak
Shales
Interest
Perim
Priee
Friday
June 26
Week's
Range or
Last Sate
1ange :or Previous )eat
(1,)7)
61/Wc
Jan. 1 1908
1,l1:14,1(
Lowest
Railroads
---- Chicago City Ry
100
50 Chicago & Oak Park-100
Do pref
100
C• hic Rys par: c f "2%418 Chicago Subway
100
--- Chic Union Traction-100
Do prat
100
15 Kane City Ry & Lt 100
_
Do pref
100
Niev-10o
Metropol W S
Do pref
100
-- -- North Chicago Street_100
---- Northwestern Elev
10(1
Do pre,
100
209 South Side Elevated 100
360 Streets W Stable C L..100
420
Do pref
100
--- West Chicago Street--100
Miscellaneous
CV, American Can
100
376
100
Do pref
_- American Radiator...,100
100
Do pref
"HO Amer Shipbuilding__ _100
100
Do pref
---_
Amer Straw Board
26 Booth (A) & Co
100
25
100
Do pref
........ Cal & Chic Canal &D.100
--- Central Trust Bank_ -100
--- Chic Breveir & Mait'g
Do pref
-E74 Chic Pneumatic Tool-100
f'57 Chicago Telephone___100
Da rights
._
-25 Chic Title & Trust _100
520 Comnicnw't h- Edison _10(1
366 Diamond Match
100
101
510 Illinois Brick
100
---- Knickerbocker Ice
100
Do pref
---- Masonic Temple
MIlw & Chic Brewing
00
Do pref
100
200 National Biscuit
100
Do pref
71
100
75 National Carbon
100
40
Do pref
Page Wov Wire Fence
23 P• eople'sGasL&Coke _ I 00
Sears-Roebuck com -100
100
Do pref
195
100
499 Swift & Co
12 The Quaker Oats Co 100
IOU
Do pref
33
917 Unit Box Bd & P Co_100
100
Do pref
2,481
100
25 Western Stone
Mining
Bingham Con Mining_ 60
:7: B• lack Mountain
20
-- Daly-West
Hubbard-F.Illott_
If tallest
1613 Jan 24 1711 Jan 2.
163 Feb 3
J'nel(
7 1%,t.a 1,,
912 Niva 27
42 J'ne23 47 J'ne 3
15 Feb 10 23 May22
212.th:1127
4 May2i.
3912 Mee
46 Jan 14
6814 Jan 4
79 Jan 20
15 Apr 29
19 Jan '17
42 Jan 6 54 Mayl,
44 May
47 May.
.0 Jan 31
20 Jan 31
53 May11 55 Mayl
3 J'ne 10
50,
71 Jan Li
2612 Apr 16 2912 Feb 21
85 Apr 20 103 J alai;
25 Apr 13 31 May 4
4 Feb 1'.
4112 Jan '2
125 Jan 10
116 Apr22
37 Mch19
91 Jan I
42 Jan 9
24 Jan 3
90 Jan 10
40 Feb 20
147 May
512 Jan 11
5612 Mayre
143 Apr 22
127 Apr 1.,
5512 Jan It,
101 J'ne
42 Jan U
• 30 Jan 11
100 Mayl
51 Apr 2,
147 May 6
4 Ann 1
4 Apr 13
MaylU
21 Feb 26
133 J'ne 24
106 ..Lai
234 Feb 21
34 Feb 25
100 Jan 4 111 Feb 4
80 Jan 3 98 J'ne 17
113 Jan 2 13112 Maylo
30. Jan 22 39 Jan 14
J'ne 15
Loirev
lila/zest
151 Men 275 Apr
134 No'. • 5 Jan
10 Oct
16 Apr
214 Dec
14 Apr,
28 Nov
68'11 Nov
17 Dec
43 Nov
3412 Ala
20 Sep
58 Apr
60 Nov
26 Oct
95 Apr
20 Mci.
461. Jan
614 Apr
1914 Jan
65 Jan
87 .lan
28 Jan
72 Jan
47 J'ly
2512 Jan
66 J'ly
IX/ Jan
34 Jan
99 May
35 Apr
3 Oct
3,02 Nov
120 Dec
112 No'.
No'.
85 Nov
30 Jan
2a Dec
90 Dec
43 Oct
165 Feb
1 Jan
5 Aut
21 Dec
5 Oct
714 Apr
60 Apr
14018 Sep
130 Apr
14012 Jan
109 Jan
40 Lich
40 J'ne
111 - Feb
54 Jan.
105 Feb
I Jan
iii.Jne
51 Feb
13413 Apr
:5 Oct
77 Oct
10813 No'.
34 No'.
11212 May
•7% Oct
12912 May
57 May
11
Oct
40 Jan •
213 Jan
27 Mch
86 Jan
11731 Jan
8414 Jan
120 Jan
19 J'ne23
19 J'ne•t3
861, Apr 28
7(1 .114/1
11614 May lc
10134 Jan
51 Men 3 70 J'ne 16
91 Mch23 112 May11
41 Aug
212 Jan
25 Feb
5818 Oct
91 Nov
50 Nov
9734 Nov
8012.1an 3 92 J'ne24
24 Jan 24 40 May2:.
72 Jan 16 90 J'ne 2
8812 Jan 2 1035) J'ne 11
11434 Jan 3 134 Jan 29
87 Jan 3 99 May16
31 J'nel5
134 Jan 4
412 J'ne25 12 .lan 15
14 Apr 2,, '17 Apr II
12 No%
20 Nov
67 No'.
751. No'.
100 No'.
85 Oct
3.1 No'.
6 Jan
16 lice
9268 Apr
57 Jan
95 Jan
11:112 Jan
17312 May
10231 Jan
214 Apr
1234 Apr
30 Feb
3213 Jan
3212 Jan
(1114 Apr
Jan
38
J'ne 15
119
Chicago Banks and Trust Companies
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending June 28
STOCKS
CHICAGO STOCK
EXCHANGE
B'ds
Sold
Rama:
Sinee
Jan, 1 1901
NAME.
our:landfni
Stock
t
• urptus
and
Profits
t
Dividerut 1,e.,orn
In
1906
In
1907
Per- Last Paid
to,r
%
8
t4-3 ..ine '08, 2
8
$2.004,000 $1,362 605
Bankers National
An. Dec '07, 6
6
5
100,00.1
31,1,81
Calumet National
J-J Jan. '08. 5
10
165.474
10
500,000
Chicago City
0-3 July '08, 3
12
3.000.00" 4,344476 12
Commercial National
8 Q-J Apr '08; 2
15
4,000,00, .3,472.t.44
Continental National
6 Q-J Apr '08, 113
6
50,000
47.226
Cook Co State Savings
12 Q-J hay '08. 3
Corn Exchange National 3,000.000 4.924,628 12
Q-.1 Apr '08. 14
6
6
45.677
200,00:(
Drexel State
8
Q-.1 Apr.'08, 213
8
381,533
600,000
Drovers Dap National.-6
Q-3 Apr '08, 112
:3
37.479
200,000
Englewood State
Meh '08. 3
Q-J
12
12
7.795.051
8.000,000
First National
Q-J SletC08, 212
160,595 10+10 10
150.003
First Nat i.nglewood
Priv ate Ba nit
638.6.4
500,000
Foreman Bros B'k'g Co_
8 0-3 July '08, 2
6
411.440
Fort Dearborn National_ 1.000.000
J-J Jan '68. 212
5
154,198 -500.000
Hamilton National
Q-J Apr '08, 2
8
8
995.297
1.500,000
Hibernian B'k'g Assn
.1-3 Jan '08. 5
10
10
104.3.4
200.000
Raspar State Bank
__ (3-.1 Apr '08 212
353,001 --._
Live Stock F:xclaanee Nat 1.250.003
4
Q-I May '08, 1
3
50,811
300,000
Monroe National
412 Jan, Jan '08. 413
__
80.990
250,0451
Mutual Lank
Q-3 July '08, *
8
6
Nat Bank of Republic... 2.000 000 1,368,714
___ Q-J Ju:y'08. 112
457,207 _.
1.500,01X1
National City
-s
57,421 Beira, 0us)ine
Atrt 26 190i
250,000
NatIonai Produce
61,760 Began bustne s?
Dec 8 1906
200,000
North Avenue State_
6 Q-J Apr '08, 112
6
47,413
50.000
North Side State Savings
Q-J Apr '08. 112
6
6
100,900
38.192
Oakland National
77,701
250,000
Prattle National
Q-J bleb '08, 2
500,000
a
4.3,532 Mill
Prairie State
J-J Jan 'OS. 2
4
14.294 ____
260,000
Hallway Exchange
123,5,5. Or,a nixed Oct 1.2 1006
300,000
Security
Q-.1 Apr '08. 14
6
-44
200,000
78.1:16
South Chicago Savings
9+1 Q_J J uly.08. 3
8
94ate Bank of Chloage_ _ _ 1,000,00 . 1 304.78,,
6
J-D Dee '07. 3
169.16(t
6
2no moo
Stock Yards Savings_
6 M-N May'08, 3
t',
41,151
200,081
Chicago_
of
Musk
Union
Q-J Apr 'oil. 112
6
6
200,000
62.040
fjulon Stock Yard, State
Q-J 110 '08, 2
8
•
American Trust So Swigs_ 34300.004i 2442,976
7
Q-J Apr 'OS, 134
7
Central Trust Co of W.__ 2.000.018n 1,006.79,
109,434
•1500,00a
Chleago Say Bk lb Tr....
6
Q-3 Apr '08. 112
6
5.000,000 1.2i7.017
Chicago Title a. Trust
3
3
47,104
A-0•Anr '08. 2
wisoia
Oltlaeas Trust & Saylaire
0-3 July 'oh, 212
10
638S91 10
606.054
3olonia1 Trust 3. Sayings
0
Q..) Apr '08. 2
6
200,001
86.971
Drovers 'Inuit So Savlsigs
•
84.979 Orta nixed Apii .14. 1907
15003)00
Farwell Trust Cu
2.000,000 L823,445 _
Eliot Triad •Sealata
469.569 .
Q-J July '08, 2
Harris Truest & Seri DIM- - 1.250.0913
1111aois Trust 4 Saviors_ 5,0400.000 8.3(117.191 12-4-4 1.+4 . rene '08, 4
6
Q-J fuly arm. 14
443,+.2 ____
203,09
Leawood Trust 4 Sayre_
Q-3 iley '08, 114
2
434,759 _
200,009
Latse Yalu Trust & Savo
12
12
Q-J Apr '08. 3
Merchants Loan Is Ti Go 3406.000 4,522.183
6
Q../ Apr '08, 113
6
Metropolitan Trust & day
35%421
760
Q-J Apr 08, 2
8
8
Northern Trust Co
1 /40,000 1.8317.622
6
45,477 _
J-J Jan '08. 3
200.00o
Northweat l'ryist a Sava,
J•J Mn '98. 3 .
6
0
77,093
paaplea 'Freibt J. Sayings_
2410,01Y/
k8 .Q-J Apr '08. 2
8
169,219
Pii/latas Trmt a Sayings 1.100.000
8
Q-F May '08. 2
8
577.367
agi 000
Roy& Trust Co
240 I
J-J Jan 'ON, 21,2
5
,Trust a Soy_
Stockmen'
13.939 ...-1.000.000 1,064.08( _--- Q-J Itch '08 2,
Unioa Trust Co
200,00i
25,0110 feline ri-y Jet leaf + RE'L derr
1:lilted States 'Crum __ _
6 Q-J Apr '08. 14
325,180 6+1
Western Trust .11 Savings, 1.900 000
slept6 1904
43,35. Began basin
200 091
Weft Side Tr a. Say Baak
U.S nivile. 'It.
I)
Ii
27 _31S0
9611,10+1
TN,,,A',awn 'Cr a Sew II k
I No price Friday
I May 14 for national banks and M ty 12 for State institutions.
Bid and asked prices; no sales were a ale ou tills day.
k Capital Increased from $300,000, a
latest price this week. a Due Deo. 31. b Due June. el Includes special dividend of 20% paid Dec la 1906.
Dividends arc paid Q-J. with extra
n Capital aad surpitai to he Increased
stock dividend of 33 1-3% being deolaced In part Paynlent therefor.
5 As 01 Feb. 15 1908.
ba7mente Q-A
11141
Rid
Ask Low
Ilion No, Low
amerIcan Biscuit 6s-1910 A - A ---- ---- ---- ---- ---- --- --10o Sicie07
amer Strawb'd let 63_1911 J - J
)ass Av & F G (St 1,) 5s'12 J - J____ 10112 10064May0- _. --9912 10118
Nilo Board of Trade 4s1927 J - D ___- ---- 100 May'07
9472 10172
3h1eago City Ry 5s._ .1927 F - A 1011 Sale 10112 10172 23
)hic Coneol Brishilt be__ 1 . .4 - ---- ----103 Apr'04 ....„ ___
)hic Cons& Trac 41,6a.1939 J - D --------5.5 Aug'07 --_
Milc AudItoriu n let 5a11/29 E . A --------9634 Jan'Oti
Thic Dock Co let 43. _1929 A - 0 ---- ---- ---- ---- ---- ___-__
)hIc No Shore Elec.66_1912 A - 0 --------87 Fete00
)111c & MII Elea Ry 58-1919 J - J
Thic Pneum Tool72
8
73
68
73
a1921 J - 3 73 Sale
1st 53
2
9514 102
.192- p - A I '3918 Sale 9918 994
7111c By 53
19
3558
,,
8858 90154
885
I
8858
Sale
"A"
rite
s'
Chic Rys 4-58
634
.
7
8252
811. 40
7834
797s Sale
Chlollyi 4-53 series "B"
I 71,13 791, 7142 Jne'08 ---75
7933
Chic Rya 4-58 writs "0"
9734 10012
/100 10014 10914 10014 10
Chic Rys coil es-1913
____
)hio R I & P RR 43_2002 LI - N -------- 79 Nov'04 ---- Collat Truet g 5e__ _1913 M - S -------- 80 Apr'04 ---- ___ ____
Jommonw'alth- Edison_-. 100 June'08 - .- 100 10014
Chic Edison deb 631913 J - .1 :100
117 100;
1
100
let g Sc._ „July 1926 A - 0 100 10017 100
0
1004 9435)
Debenture 5s- _1926 Ai - s I 99 Sale 9914 991
5
93 10111
Commonw Sleet 501943 It - S -- 10112 10114 10114
Ilinois Tunnel 5e......_1928 J - D -- -- ---- 90 Dec•06 ---- ---- ---9318
93
Kan City Hy &LtCo tte 1913 M - N I 9458 9412 934 A Pr'08 --- 8518 88
1914 88 June'08 ....-Enick'bicer Ice let 53-1928 A - 01 90
.-08
May
881,1
80
.1
83
-_1928
I-__
85
.)
53
.ale St El-let
16 May'05 ---- ____ ____
1925 Feb ---- -Income 5s
letr W Side El8114 8504
Juo'08 -- -111714
4.
4
1038 F - A ---- 873
1st
85
80
8414Jue'08 ---Extension g 4a
1938 J • j ---- 64
jorth Chic St 1st 63-1909 J - J --------09 Dec'eis
-- ___
1st 5.
Refunding g 4 Hs MI A - 0 --------79 Aug'06 ---- ---- ---No Ohio Oily Ry43,01927 It. N --------75 1'ols'97 ---- --- ---6
9042
894
86
89
IsTorth West El let 4s 1911 M- S I 89% 89
804 93
1945 M - N ----- 9114 Jne'08 -lgden Gas 53
__
____ 100121.tria'06 ---1916 1 - D 90
'earsoas-Taft titi
95
95
LI - S --- ---- '35 AprOs ---4.40s
96 Apr'US
96
90
It - N ,9(112
4.603 Series E...,.
9712Ja 1.18
974 9711
Id - N 97
4.80s Series F
'co Gm L&C 1st 63_1043 A - 0 --------1.12 liar'08 ---. 16012 112
04 102
5
Refunding g 5s_ _ _ .1947'.t - S /101 10112 1014 10113
974 106
Chic Goa lalsC lit 5s 1937 J - J 110234 Sale 10234 10234 11
9434 10012
113018 313018 --Consuni Gas let 58_1936 J - j) 7100 1111
WO Alay'O
98 WO
,---Mut'l ?mei Gas Ist5s1947 M - N I 9S1 100
93; 931s
iouth Stdo Mary 41,65_1924 J - J 954 -- 954 9514 28
93 100
1
Isylft 61 Co Is% g 58._ _1914 J - J -- -- 9364 13912 91,14
90 Fehala ___
VO
00
Jnlott Si (Loop) 5s_ __1945 A - 0 -___ 10
1,Jnion Pacific oonv 43-1911 Al - Isf -- ____ 114 Nov114- -- ____
65 Apetle --__
66
68
1hilted Box Board co. 6s'a6
1.+Vest Ohio St let 5s _ _I 928 it - N ____ .._.. ilo iday'07 __ __ __ _
NS12 14ep'05
1001 F - A -- --Tunnel let Sc
1914.1 - D -___ ---- 73 June'07 ...... ___ ____
Da bentura fle
7212 liC1i
Oonnot g 5, cc'.. __MI6 M - N --------8014 J e'. t1 .......
______
147 Dee'00 ___
Woe DievOltylty 4 401932 .1 - J -__-__
70 3 avVa -76
70
Vesitioris Sbone Co 5.1_ _1909 A 0
mat. -_,,.........a. ,........, milat A lidded to all Chleafro ban d nrima
BOSTON KOOK EXCHANGE-Stock Record, Daily, Weekly and /early
2'UMPRICES
SIIARE PRICES-NOT .PER CENTUM
Saturday
• June 20.
Monday
June 22.
Tuesday .
June 23,
Wednesdav
June 24.
Thursday
June 25
Friday
June 26
Sales
ol the
Wee.:
STOCKS
BOSTON STOCK
EXCHANGE
//anye Since
Jan. 1 1103
Itazwe 1or Prevtous Year
Illyhest
Lowess(190i'II tones.
Lowest
' '
.
Railroads
81
*8078 8118 *8114 8112
80
81
*.
i075 8015 *7975 8018 80
120 Atch Top & Santa Fe-100 137'
6712Nov 10712 Jan
.
)3
2 Feb 118112 Mayl..
*9278 9378 09278 9318 93
93 *9212 9312 *9234 9334 9278 9278
9334 4'ne 13
44
10
Do pref
40
7934 Nov 2
133 J
FItenb
202 202 . 200 200• 202, 202
202 202
202 202
201
201
74 BostOn & Albany_
100 181(2 Jan •.. 20.04 Apr 22 180 Dec
13334 13334 13313 13312
,.*132 13312 134 134 .133 134 *__'_- 134
63
106 Boston Elevated
51 Feb 17 140 Jan 20 11734 Nov 152 Jan
) 12
(
0
9
10
Last Salt 210 June'08 ---- Boston Fe Lowell
*208 210 *208 210 *208 210 *208 210
200 J'nt. 231 Jan
130 130
.4.128 . 130
130
130 130 *128 130
130 130
130
L
b 129 Nov 170 May
BoD
stoon„r
ecerMalne
Last Salt 149 June'08 -8-8_
i
_100 136 Feb I.; 156 Jan 22 150 Oct 1.n. taetti
Last Salt 300 Juzie'08 ---- Boston &Providenee_100 284 Jan 10 301) J'nel, 285 Oct 30
-- - - -- - iiii- 3-66 - *ioW - - -.. -_ *:- _- -_ SO6 - *298
12
Last Sob 1212 June'08 --- Boston Suburban
12 *11
*11
12
*11 12 *11
9 Mch 1 13 Meh24
15 Feb
J'ly
8
Cos_
El
*52
51
Last Salt o5" June'0:.
bti
*52
*52
*52
55
51
45 Jan 31 513 Maylv
65 Jan
Do 'pre_
50 Aug
11
*10
11
*10
*10
11
11
1034 1034 1078 1073 *10
10 Feb 28 17 Jan 2o
--ii, Boston & Wor Elee Cos
2834 Jan
16 Nov
54
*50
*50
54
54
*50
54
51
53
5334 5334 *50
50 Feb 27 6012 Jan 111
31,
80 Jan
Do pref
Nov
55
Last Sale 150 June'08 --- Mile June lty & USY.100 126 Jan 2 150 J'Iie 16 128 Dec 160 Jan
*148 150 *148 150 *148 150 *148 150
no
.110
4,110
*10012
_._
___
*no
___
no
*10912 ____ no
1U2 Jan 10 11112 May22
7
Jan
Do pref_
120
Oct
9934
100
•-__-__ _
Last Sale 16314 Jun-e'08
Con 6: Mont. Class 4_.100 16314 Mch 5 165 Men 4 170 Oct 188 Feb
Last Sale 138 Apr'08
Conn & Pass My pref_100 13o Apr 21 138 Apr 21 115123 NovJ'
156
35 .JAlacnh
1
y
.aLii- i8-6- ---- ---,,-, _-_,- ,,,
Connecticut River--100 244 Jan 14 253 Apr 22 244 Dec 280 Jan
127 127
lil lir 4Q5 127 -1-2U2 11E1-2 12512 12212 12512 12112
g3 Fitchburg pref
1
4-luonr 2,
100 117 Jan '2 131 2
_
*72
73
74
73 *73
_
73
*73
74
*73
74
21 Ga RY & Electric__ 100 67 Apr 27 79
6913 Dec 114 Mch
Last Sale 73- OC-t-'07 -- Do pref
---- --__ -- ---- __--_
788112 JanMe!1
Isieco
1
7; o
Last Salt 190
Sep'07 --- Maine Central
190 Aug 198 Jan
10
9it.;
;1012 -1134
*10
- "iii2 T61-2 ,-PiO- -1-6-2 ;15- 161-2 *912 10
1012
50 Mass Electric Cos__100
Jan 2 1213 Jail 8
Jan
814
2012
Dec
7
481. *46
*4612 4812 *47
47
47
48
47
4712 4712 47
257
40 Jan 2
Do pref
7112
Oct
Last Sale 15.38 Apr'08
Mexican
8
11/
1-92 JAI'enh381
2534 Jan
-__ _101
13512 -Hi N Y N H Central.
153- fig- .....iiti- 15(1 fiS- 135 13512 135
34-4 11-1;
& Hartford_100 1215838 Jan U 140b4 MaY13 12713
19012 Jan
-- -- 14312 14313 -___ ____ ____ ____ __
1 Northern N H
143 Apr 7 145 Apr 1 145 Dec
.L-iist -i&-t 200-- Apl'a
Norwich & Wor pref_ 100
00 200 Apr 6 205 Feb 26 205 N o v 228 Feb
*- Ili- ii- fii- *ii g3-- *13:21.4 fgi- 183 183 *- a 183
Old Colony
175 Jan 11 180
812 J
A.p
ure 25
1 175 Oct 2
n
914 Jan
16
1)0
26 ' 26. *N3
29
*21
_
29
*2ii
29
*26 28
*26
Rutland pref
100 25 Jan 15 '29 Apr 2
45 Jan
25 Nov
8012 8012 *80
SO
80
79
79
... --ii. Seattle Electric
*/8
79
SO
80
100 7U Feb 17
99 Jan
82 Aug
*92
93
*92
93'
93
93
93
*92
93 *92
-9-3
93
6
Do pref
100 8833 Jan 2 95 Feb 8
Nov
14413 14534 14238 14434 14173 14338 14213 14318 14312 14413 14478 14518 5,440 Union Pacific
11
34 1Mic
319 103
aly
811%
100 11013 Mch '2 15
02312 Jan
03
142
18
Last Sale 8234 May'013 __;
. *3218 8313 *8212 8318 *8213 8318 *8173 827s
.5 veDrmoxt•el'et m ass.
8478 May22
7834 Nov
_18
(
0
156
3
156
17
5;
(8 4‘
,_-l a13nr 1:1 156 Jun 1 14518 Nov 170 Jan
82
8212 82 -8212 8213 8212 -gir2 -811-2 73i
188 Vest End St
i2 12-1-0 -iii1-2 IS..
50 76 Jan 2
Jan
95
3 j
J
9
74 Dec
*10431 105 *102 ____ 102 10234 *102 10234 *102 10234 *102
..
89
Do _pref
5() ihi Jan 2 105 Apr 7
94 Nov 110 Mch
Last Sale 140 -Apr'08 --- Wore Nash
•---- ---- -- ...-- ---- --- ---- ......_
Roch _ -100 139 Mch30 140 Meh3u 140 Aug 147 Jan
Miscellaneous
24
*23
*2313 24
*2312 24
2413 24
24
24 *--__
260 Amer Agrieul Chem--100 13 Jan 3 25, J'n0 1S
24
10 Oct
26 Jan.
36
86
87
*85
87
87
143
87
87
*85
87
86
87
Do pref
_
134 Leit
7112
2 Nov
90
silov
h
578
578 1,160 Amer Pneu ServIce-in°
614 (314
6
6
6
578 6
6
633
6
4 Veclisq()
7 8112 liallY11.9
50 77
16
1634 15
1512
1413 15
15 • 15
16 ' 1514 1514
1513
Do pref
565
912 Feb 25 21 MaylL
Jan
50
124 12414 122 12413 12312 12312 123 123
1241 '121 1() Ampeor Sugar Retln____1N
124 124
9914Jan 2 13214 Mayis
Oc
ee
93
t 1333714
912 D
125 125 ' 121 124
124 124
--------172
123 12312 123 123
,ref
1
106 Feb 18 129 Mayi.. ins Dec 13134 Jan11734 118
11713 11734 11733 118 - 1,522 Amer
11712 11734 11712 118
11713 118
Jan. 2 12012.1'nel,
& Teleg 100 99
16 Jan
13412 Jan
8914
Nov
*2213 24
23
100 American Woolen__ _100
*2213 2312 *2213 2312 *2214 2312 23
*2234 24
24 May19
3613 Jan
1214 Nov
8914 8912 8913 8913 89
8812 8812 8812
8912 *8834 8912 *87
7734 Feb 19 9013 May's
10212 Jan
-100
Oct
69
12..0.
*3
*3
33
33
4
4
334 *3
Last Sale 312 June'08 ....
33.4 *3
312 J'ne 4
BoDstoonPLrearnd
Jan
10
*10713 109 *10713 109
34 Cumber. 'relep & Tel..100 93
108
10712 10712 10712 10712 1071, 10713 *107
612'1
1
'
ml 17
1 11078 Feb 3
91121
5Vo
ch
v 115 Jan
*17
Last Salt 17
18
*1613 1713
May'08 _..„ Dominion Iron' & Steel__
18
*1614 1778 *17
1434 Jan 0 1814 Apr 15
b
•
1213 Oct
24
5
*512 6 .
*312 6
Last Salt 534 June'08 _iit.
*512 6
, Ust0n
*512 6
Borio
ec
n liftunm
mMecithil37
d_
914 Jan
312 Oct
208 20812 208 208
208 20812 *,„- 209
2141 12111= 185 Nov - 230 Jan
414
20812 20812 *____ 209
10
00 201
132 133 *133
13413 135
322 General Electric
13013 131
135
May18
131 13.113 *131 132
141
111 Jan 2
91 Oct 162 Jan
5313 5312 5313 54
54
54
5312 5313 *5312 54
*5312 54
305 Massachusetts Gas Cos100 49 Mch23 5812 Maylb
66118 Jan
43 Oct
8413 .8412 85
8413 8413 85
86
*84
85
99 • Do pref
77 Jan 2 8712 Apr 22
84112 85
85
8612 Apr
75 Nov
*____•
199
*__..... 200 *____ 200
199
4....„
4
*.;,•_.
Mergenthaler Lino __ _100 192 Apr 16 200 Jan lb 185 Nov 215 Mch
199
200 200
134
134
150 me‘
2 Jan 23
178
*134
2
134 134 * 134 2
178
*134 - 2
1 Mch 2
434 Jan
114 Dec
ahrno_n_e:.:.- 119109
60
Last Salt 40
*40
*40
ii E
- 1Cotton
50___ *40
l
00 90 bleb 5 51)12 Jan 14
June'08
50__ *40 _ 50
75 J'ly
46 J'ne
)
*75
*75
*75
__ *75
_
Last Salt *
76
Do pref
11113Jun
le
75 Mch23 80 Jan 14
1'08
2
Oct
90 Jan
so
100
11112 1-1-2' 11113 11134 11112 11112 1111, 1-1-1-12 11 112 1 1 112
tfii N E Telephone
96 Nov 126 Jan
100 105 Jan 4 119 Jan 20
3i
4 15L4
15g3140 15)
23
183 157
158 03
/37
334 113
7 Pullman Co
15814 1517
41
142 00
147 Jan 2 16134 Apr 29 137 Nov 182 Jan34
3 15 34 15738 15;c3
*958
9 Nov
11 Jan
9 Apr 10 11) 'Feb 21
Button-Hole.. 1
101 10114 101 101
10012 10012 101
101 10112 10012 101
101
2 10312 MaYL,
121
, 3
7613 Nov 113 Jan
auti
2
8012
8 J,
*22
ne 14
24
38:
24
1
*22
'n
*22
23
b8 .47.
PoVrr
24
2212 Jan
*22
24
i1Ini&
gtC
oo
n:
- Class A_, 25
23
*22
20' J'ne
23
24
26
*24
22 25 Jan 14 '2413 Nov
*21
26
Do pref
Last Sale 25
26
*24
*24
28
May22
June'08
2712 J'ly
' *112 2.
*112 2 *
213 Jan 2b
_
134
1 Oct
1% 138 *---134 --.Lo Union Oop L'd & M'g_ 25 2114
678 Jan
134 *---14212 143
144 145 . £143
14112 14313 144
14214 14234 1;1213
1,101 United Fruit
11412,Jan 2 14512 J'ne 2 10113 Oct 120 Dec
143
100
5334 5334 54
54
5312 5314 54
53
51
53
1,716 Un Shoe Mach Corp
5312 55
36 Oct . 69 Jan
25
.*2734 28
*2734 28
28
23
*2734 28
Do pref
48
28
348718
2ja
Jan
n 3
50
4 2812 Feb 26
2734 2734
250938
23
2% Nov
oct
• 25 2
U
I;eSstSteel
I nl00
26 Jan 2 '3018 Mayls
e
Jan
3714 3738 3612 3718 3638 • 3658 3658 3658 3678 3738 3712 371
3,124‘
21
101 10114 10133 102
10118 10114 101 10114 101 101
10218 10218
Do pref
Jan 2 10338 Mayp,
871
909
,
107
934 Jan
o
tn
y
,
12
N
79
4
1011
*.
6 *
6 *_ • _
0 *_ ___
6
Last Sale 6
8 Jan 31
4 Feb 3
i)
Co
June'08 --&rPTeleg- _100
*65
--Last
65
Jan
Salt
7U
10
*iiii.3 65
i.-6i1-3 65
Jan
an.
June'08
50 Nov
82
100
Last Salt 2713 Apr'08 -_-_-_-- Vesting El & mg
1973Feb 18
50 . 59
2614 Nov
7812 Jan
9 2712 Apr 11
----. ---- __- ___ -- -___ ---- ---Last Salt 3478 Feb'08 -. Do pref
80 Feb
76 May
50 3978 Feb 19 3478 Feb lj
Mining
31.
3
2
278
314
3% 334
418
3
338
A nitioatiegza m atC
418 Jno 22
338
50
1 Adventure
63
t
112 Feb 21
ed
Etteib
312 12,5
1 j
on
76
4:
25
29
*28
29
29
29
29
*28
112 (
23g14 16,370 A !
29
7414
29
29
2088 Oct
6612 6512 6534 6538 66
6
6673 6712 6618 6714 65
421g Dec 121 Jan
Copper lit1.1 it
*2534 2712 2712 2712 *2634 2712 2714 2714 *2634 2714 27
145 Am Zinc Lead & Sm
27
5135 JanJan
ov
ont
12
9 N
25 2034 Jan 13 30 J'ne 2
4118 4118
25 Anaconda
75 Feb
20 Oct
25 23 Feb 10 4014 Mayit,
-;.51-2 -1- -4.5i3 --4-314 Apr 29
220 Arcadian
.5
0 Jan 15
334 334 -372 -11-2
3 4 3 4 71'51-2
*1713 18
*1712 18
110 Arizona Commercial... 25 14 Jan 2 2034 Jan 29
*1713 18
1712 1734
*1712 1844 18
18
2813 %, lay
73
34 Oct
Arnold
AshtrinaonB
i nd
190
1 1144 Feb
o AA
s0
.
ii
34
*12
a Jan
*12 ---- ,
*12
12
34
.35 Sep
12
25 .
Last Sale .2
Jan
Aug'07
25
-.71.8is i-ea-4 ;i8i4 1E78
25
Ap
prrr 2
8 AA
21149
2
4 :
- -i814 -1-S1-4 -His -1-6.3-8 1514 1514 -,-_, -.„
7
1
59
4
013
4k
M
3
,
1ea
r;:y
-2
2
1.7
3
416;3
2 Neat 2142 Felo
*.75 .90 4..70 .90 *.70 .91*
.80 .80 *.60 .80 *au- .80Bingham
200
633 Jan 20
37 Jan
Con Min & S 50
418 Dec
.40 .40 *.40 .60
600 Bonanza (Dev Co)_ _ 10 .35 Feb 19
an
.40 .40 *.40 .60 *.40 .60 *.40
Jan
--..
83014 j
.38
538 Sep .3
1112 1113 1114 1112 1133 1112 1112 1112 1112 1134
925 IlostonCone&G (ret-s) rl
1014 Apr 13 17 .1311 2.
1138 1112
*1412 15
514 BOS & Corb Cop & Sil M 5
1613 May21
1412 1434 1412 1412 1412 1412 1412 1412 1412 1413
2134 22
2273 2278 22
22
22
22
22
2213 22
5 12
1,905 Butte Coalition
22
4514
3 .
Ma
ny19
513 Jan 2
16
10 Oct
3918 Liiiii.
15 x66
108 108
107 107 *107 108
108
10713 108
216 Calumet & Arizona_ 10 93 Feb 20
107 108
108
89 Oct 198 Feb
2
J.t_ 1_1 '49
665 665 *660 665 *660 670
660 660
660 665
24 Calumet & Heela
660
660
15 635 Oct 1000 Feb
25
:2_31
:3 _2_5
25 "25
...5.... *2312 25
:3_12
.. :
Feb
*2313 25
iii *_.
460 Centennial
25
25
25 21 Feb 10
.43 .44
.43 .43 .42 .43 *.42
2
1V4
.44 .44
.44 .45
1151 Octc
4,200 Cons Mercur Gold.-- 1 .25 Mch 6 :
.94
7213 7212 72
7113 72
71
18
4
aey1
14
94
11
:
1 j
712
7112 7134 7134 72
72
4D
Mn
Oc
72
775 Copper Range Con Co.106 5518 Feb 18 7
ee
t 1200512
Jan
1034 1034 1038 1034 108 1034 *1038 11
1034 1034
7 Jan 3
205 Daly-West
1012 1012
20
92:0
Last Sale 5112 May'08 ---6745515113
.28421 JJJJA
Maaaap
entnnirh
7
40 Oct
Coal
12 1744 5
Last Sale 98
JW2
Do pref
6
1141%17
'
2 f1)!12.
85 Nov 114918
June'08
Jan
.99 Mch 6
113 *11 1
113
Nov
I"
110 -08-5 Elm River
113 112
;
2 Jan 18
2014 Mch
634 le
013 Apr 22 1012 Jan 27
955 Franklin ___ ._
93912 912 ' 91,1
4
2
15
2
"4 975
914 014
912 912
W2 012
98
98
65 Oct 151134
*-- 100 *____ 100
*96
99
100 100 *___ 100
2 Granby Consolidated-100 80 Jan 2 105 J'ne 8
1018 10
1035 1012 1014 1034 1018 1014 10
514 Oct
1018 10
1018 6,312 Greene•Cananea
678 Jan 2 1114 J'ne18
20
2 Feb 26
2 Dec
_ Guanajuato Consol....2 5
2
J an p
Last Sale 214 • June'08
3613 Jan
1113 Oct
I
1734 -7720
1734 1734 1731
- isle Royale (Copper). N
; - igi2 IS1-2 - ia- li- - Hs' lg.n 17 22
172311 Feb
64
7
-i§i2 -iiii14
s Oct
30 Feb
2 1714 Jan 14
14
14
190 La Salle Copper
*1334 1418
14
14
14
14
14
14
14
2% Nov
478
91, 1,820 mass Consol
5 J'ne 18
433 4%
48
914 Jan
4
433 438
43) 473
413 434
.50 100 Mayflower
v
)34 /
Jan
*.40 - _
1Lov
aini .V5 .4(5
;
1..-1 .22
'
514 .311tcnh 114 .50 Ja
.35 .40 *.40 .50 *.40 .50 4..40
*.40 .50
*514 -5.si
*518
Mexico
512
Cons
Feb
M
3,040
478
8
5
19
,
5
5
5
&
514
5
S
,
10
512 512
*912 1014 *912 10
40 Michigan •
91a
91:3' • 012
*912 10
25
- 91a_ *012 10
1i14
7
2
1(1
4
372 Mohawk
353!;1344
v
5813 5812 581. 581 5813 5812 5812'. "6813
5912 60
24
5.
9510
1,525 Montana Consol C & C 0
I 2
2 5.3
% Jan
Nov
63
'
5 4..55 .75
.65 .65 *.60 • .65
21a May
.60 .65
.6g .6
1173 1178 1178 1178 *111. 12
Nov
400 Nevada Consolidated_ 5
833Jan 2 13% Mch25
*1112 1 178 1 178 1 175 *1112 1134
201a Jan
6634 67
6614 4,445 North Butte
ep
i
iiir
Jp
ep 120 - Jan
3012 Oct
6613 67
66
6614 66 654 6614 6512 66
2
1 ;1 .N34 Feb;111
..50
.50 *
P.
.50
400 Old Colony
*- _ _ _ .50 I._ _- .50
212 Jan
.60 *_
3:113 35 *34
3412 '341
275 Old Dominion
25 28 Jan 2 40 Jan '28
*34
35
,17 Oct
i414, 3412 *34
35
63 Feb
35
92
93 • 97
92
*93
95
405 Osceol
92
92
92
92
92: . 92
Feb aOct 181 Feb
2212 2212 2212 2212 22
2234
343 Parrot (Sliver & Copp)
83124 DecOct
.g
__13 raenb
22
2214 22
22
3a5
71171
233 J'ne 16
2212 .*22
201 Phoenix Consolidated 35
1.. Mchll
Last Salt .2 *3123Ich'08 -114 Jan 25
Jan
i.g.ii.2
- ;14112 15- -f4:11-2 14-1-2 -1-412 14-1-3 8412 8412 8413 834 71 22
) 72
148 Feb •
25 77 a. Feb 19 9313 Jan 15
°
11411
11
o
n
d
e
i
Island.
*3% 378 *338 334 *311 331
314 314 *338 334
255 Santa Fe (Gold & Cop) ?II
*173 218 *Ps 2
218
*178 2
2
2
113 Notv '1723142 Jan
178 *173
173
233 Jan 20
2'111:1iir1213
:
153 1
n
1334 1334 1312 1334 1312 1358 1314 1312 1314 1312 1314 1314 1.475 Shannon
8
5711s 0
4,fa y12
634 Feb'ten 2
10
142 1m
9 19
24% Jan
43
1
25
0 69
*1812 1714 17
215 Superior
1713 1634 1634 *5
*17
17
25 11244
6
5
19
nr 13
7
17
i;:&i- Feb
5713 5713 57
1625 Tamarack '087
*57
57
10
84
60
attlni1 2
*57
.j
il:
Oct 14771203711114 JanJmas
1883
74.
60
795
7 Trinity
united
1333 1333 1213 1234 1234 1234 1234 1278 12% 1258
Feb
1234 13
Nov
*1313
634
100
4% Mch24
7
7
Copper
7
938 Dec
---- ---- *634 718 ____
- -i;
at -k4, 2134
Do pref..._..___ .1(10 23_34 MIR g,8.19.6
ne 3 22 Oct 91 raY
1
iiiii4 igan
2514 2514 2514 --iii United StatesCoal&011 25
713 Nov
9
3513
37
37 4._ ___ 3634 3534 36
819 U S Smelt Ref & Min_ 50 28 Mch 6 3912 MaY14
36
3514 3512 *36
37
24
73
74
8(
0
)c
et
70 Jan
4114 4114 1,239
, 41
Do pref_
4114 42
42
42
50 i5
21" Feb
itn I) .g111 k/14,1,
4114 4114 4111 4114 42
V;114
4113 £1013 41
4014 4012 4012 4012 4034 403.1 1,319 Utah Consolidated
15
2512 Oct
4134 4134 41
4
79
9
3212 34
815 Utah Copper Co-.
32
3112 *3134 3214 32
3138 *31
ae26
*31
31
Ain
31
4 J
8 36
4 2247
111T.'16
*413 478 *412 434
414
414
50 VIctorla
5
5
11b8 Feb
y26
313 Oct
978 478 434 434
.5
312 Mch
Last Sale 1.0614July'07 __ Washington
;
);
moca
1 isor
*51
5 Winona
--6- *512 6
133
130 130
35 Wolverine
133 133
130 130 *130
p130 133 *130 133
12 2 138
14;g
8% '1
9212
112 *135
314
11, 113
113
135
114
178 1,785 Wvandr.t
114
*1
172 J'ne26 .10 Nov
*1
1'511122:May25
1
2i 150
b Ex-a1t93531o84.3kjjP:delbv
a Before pay't of assess'ts called in 1037. * Ilid and asked prices. d New stock. e Ass't paid. h Ex rights. a Ex-dtv. and rights.
12 M14 Zab„1s1 liT3 ,Airtir
iiii-
Ifeis,
43 ____
PAT, g!.15182 titanyV,
.E an
Alio 1i1
,
r,,ecib,eic g134
Joel]
12 .:23,
17 "
Oct
c
-28i, '-itilT, ii.2:ii, igf, -iS- ii- *243,
VI:
6 1
Boston Bond Record.
JUNE 27 1908.1
BOA Hs)
BOSTON STOCK EXCH'011. t.
WEEK Elam% JuNE 26
Price
Friday
June 26
Week's
Range or
Last sale
Range
omflce
January 2
Ask Low
Eta
high a.) Low High
li.m Bell Telephone 4s....1908 J -J 100
100 J'ne'08
1)81411)))
tkm 'relen & Tol coil tr 48.1929 j_J
874 Sale 87
87', 54 78% 87%
193);
Convertible 48. .. .....
M.S 834 sale 834
837
,191 8076 8638
&111 Wilt Paper 1st st58 a 1919 J J
1;7834 Mar'08
,17834 117834
&ten'1 op & s Fe gen g 48..19115 A-0 96% 97 19758 197%
964 9914
Adjustment g 414.....1.1y 1995 Nov
86
1187 Apr%).
85 187
J'ly 1995 5I-N
Stamped
86
8538 J'ne'07
......
Boston Elect Light 1st 68.10118 M.S
1924 51-S
Consol 58
110 Feb'04
1916
J
Boston & Lowell 48
101 Sep'06
1944 J -J
Boston & Maine 4 424
114 Manta
Boston Terminal let 3',s 1947 F•A
1124 Jan '03
1918 J -J
Bur & Mo Ely ex Os
104 Oct '07
Non-exempt 68
1918 J -J 102 105 102 Sep '05
1910
Sinking fund 48
08 L9 Apr 08
07
98'
1917 A•
Butte & Boston 1st Os
100 J'ne'01
Dedar Rap & 510 R 1st 78 1916 M-N 117
12314 Nov'06
......
1009 J-1)
2878
111 18.Ply'05
Dent Vomit 1st g 48..May11120(
80
80 J'ne'08
.2- F
76
8014
0 B & ,4 Iowa Div 1st ba 1910 A-0
11103 Oct '0'2
Iowa Div 1st 48
1919 A-0
96 4 3'ne'08
9634 9634
Debenture 68
1913 M-N
100 Apr'08
100 100
Denver Exton 45
1922 F-A
9714 1'110'07
Nebraska Eaten 48
1927 M-N
9838 Apr'08
9838 983s
B&SWat 48
1921 M.S
97% May'07
Illinois Div 3128
1949 J -J
189 May'08
1189
86
Joint bonus See Gt Northern
Ohio a a By do Stk Yds 5s .11115 J -J 103
1021g J'ne'08
09 102%
Coll trust refunding g 481940 A-0 87%
88 J'ne 08
85
8819
Oh Mil & St P Dub 1) 66 1920 J .3
122 Apr'06
......
Oh M & St P Wis V thy 681920 J
126 Fen'05
Ohio ee No Mien 1st gu 58.1931 M-N
91)
96 Apr'08
95
96
Ohio & W Mich gen 68-.1921 J -D
9914 100
'7 97 100
Donoord & Mont cone 48 1920 .1-I)
91 Dec'07
Donn cfe Pass It 1st g 45 t1013 A-0
11214 Jan '03
......
Durrent River 1st 58
1927 A-0
104 Nov'06
Pet Or hap & W 1st 48-1946 A-0
81 76
80
8176
Dominion Coal 1st s f 58 1940 M-N
00 Fe WO).
90
90
Titohburg 65
190- M N
98 Apr'07
48
1915 M-8
10318 Apt'06
......
45
1927
S
96 Apr'0,96
96
Irrenit Elk & Mo V 1st 68 1933 A-0
128 42 Apr'08
128 128%
Unstampen 1st 68
1933 A-0
140 A in•'05
Eit Nor 0 B & Q coil tr 48 1921 J -J
1154 93
94% 1'9634 12 .-11-21:111973
,
Registerea 4s
1921 Q•3
95
9512
95% 3 92
96%
1581
BON Ds
BOSTON STOCK EXCH'OE
WEEK ENDING JUNE 26
'
•7
5.
Price
Friday
Jun.26
Week's
Range or
Last Sale
Since
JaDttOry
Bia
Ask Low
Bign
High A o
Illinois Steel deben 58. .1010 J -J
9814 blay'08
9714 99
Non-convert deben 5s...1913 A-0 0812
984
98
2 95
In Falls &sioux Chit 7s..1917 A-0 98 Sale 9714
117 Apr'0,
17 117
Kan C Clin & Spr 1st 5s. .1925 A-0
Mar'OS
96
1/0
96
Kan C Ft s & Gulf 1st 78..1908 J -D
101 J'ne'08
to)) 101
Kan C Ft Scott & M 08...J928 M-N 115% 116 116
7'ne'08
10911 11614
KanCM& B gen 48
1934 M-S 89
811 J'nells
r-712 01
Assented income 58
1934 M.S
89
88 4 Al av'08
88,
5 8815
Kan C & 51 Ity & Br 1st 581029 A-0 55
51ay'07
Maine Cent cons 1st 75. 1912 A-0
11314 Nov'06
Cons 18t 4s
1912 A-0
1011
Sep
4
Mare Hough & Ont 1st 68 1925 A-0
116 J'ne'08
115 115
Mexican Central cons 48 1911 J -J
185 J'ne'08
74 ¶P,5
1st cons inc 38
Jan 1930 J'ly
116 Ape°,
1116 1116's
hi CODA inc .34
Jan 1939 31
115 14 Apr'08
1[15,4 1115 14
Mich Teleplat 5s
1917 Minn() Gen Elec con g 58 1929 J -J
90
92 10214 Aug'04
New Eng Cot Yarn 58
1029 F -A
97 Sale 97
97
98
6 93
New hg Teleph Os
1908 A-0
100 Feb'08
100 100
Os
1915 A-0
10018Jan '07
58
1916 A-0
New England eons g 58 1945 J -J
Boston Term 1st 4s
1939 A-0
NYNH& II con deb 31451956 J -J
1186 J'ne'08
79% 88
010 Colony gold 4s
1924 F -A
10114 Sep'06
......
Oreg By & Nay con g 48_1946 J-D
11024Jan '05
Ureg Sh Line 1st g Os
1922 F-A
112114 Mar'06
Repub Valley 1st s f 6s 1019 J -J
102 A ug'07
Rutland 1st con gen 448 1941 J -J
1074 Nov'05
Rutland-Canadian 1st 481949 J -J
102
Mai'02
Savannah Elec lateens 58 1952 J -J
98% May'06
Seattle Eleo 1st g 58
1930 F-A
10014 Nlay'08
100 100%
rerre Haute Elec g 58
1929
97 Apr'04.
Torrington 1st g 58
1918
99% Nov'08
Union Pao
g4s 1947 J - J
7
1I09 Feb'08
r.9978119978
20-year cony 4s
1927
J
191%.rue'08
1143840135
Uniten Fruit cony gen 68 11111 14-S
116 Jan '08
116 117
U S Steel Corp 10-60 yr 58 1963 M-N
11904 119636 12 1186 119738
West End Street By 48. 1915 F- A
96% Feb'4.8
96,4 904
Gold 4428
1914 M-S
95 Nov'07
(Iola dectenture 4s
1911$ M-N
10238Jan 06
Gold 48
1917 F-A
99% May'07
Western Teleph & Tel 58 1932 J -J
90
91
5 79
95
Wisconsin Cent 1st gen 4810411 J -J
119414 Sep'05
Wisconsin Valley 1st, 78 1909 J -J
10958 Aug'05
Nara-Buyer pays accrued nterest in addition to the purchase price
for all Boston Bonds.
No price Friday; latest bid and asked.
¶ F at price.
Philadelphia and Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
Share Price*--Not Per Centuni Prices
Saturday
June 20
.6
.114 13
54414
31
1034
•4
*21%
.6
•87
62
4434
31
10%
5
22%
6
88
62%
4 6038
60,
'38', 39
9'n
1378 1419
551516 5638
42
•41
4614 4738
86,4 85%
'15
At macro
June 22
luesaay
June 23
Wei.nesuay
June 24
•90
9114 91%
64 654
•6% 634
•10%
•11%
•11%
.10
10%
.0
30%
1078
•4
22
*514
87
6158
14
60
3834
914
1378
55528
41
41
47I
85
25
31%
1076
5
22
6
87
624
142
6014
38',
9',
14%
5651,,
41 18
41
47%
83
25
.4414
3078
10%
.4
'21',
5%
87
613s
•41
4714
85
••25
414
4734
85%
30
.triaav
June 26
.224
.70
.90% 91', •91
-6
'04
.12
•12
.10
1u'-, .10
Sates
AC'T1 VE STOCKS
ol the
Week (For Bonds and Inactive
Stocks see below)
Shares
25
73
91%
6'4
1214
10%
liaitiniere
Con. Gas El. L.& Pow.100
Do pret
100
24 Northern Central
50
125 seaboard(new)
100
Do 20 pref
100
United By & Electric.. 50
Range Since
Jan 1 luuS
Lowest
4434
44% 4414
314 314
31%
11134
1058 1034
5
.4
5
22', •214 22%
6
'5'.2 6
87
88
88
61%
61% 61%
1% 1%
60%
604 60
39
•38
38%
1.2
9'
9',
1456 14,
8 15%
5538 55728 6534
LA1)1.1'111A
Bid Ask
l'IlILADELPIIIA
Bid
Ask
inactive stocks
Bonds
allegheny Val pref....5(1
Al Val E. ext 78 1910 A-0
tancrican Cement
50 33
Alt &LVElec 4146'33.F-A
31
93% 9512
Amer Pipe Mfg
100
Am Rya cony 5s 1911.J -D
4
9714 11,
Bell Telephone (Pa).100
All City 1st 58 g
Dambria Iron
60 44
45
Balls Ter let Si, 1926.J.D
Dentral Coal & Coke.100
Berg& Ellrw let 68'21 J -J
3onsol Trac of N J...100
Betide Steel Os 1998.Q-le 112',
Diamond State Steel..10
Choc& Me 1st5s 1949.14
Preferred
10
Ch Ok & G gen 58'19 J-.1 105 105%
Easton Con Electric 0.50
Col St Ry 1st con 58 1932
[Cleo Storage Batt....10() 30
31
Con Trim of NJ let 58.'33 102%
Preferred
lou
& A 1st AI 53 1920 51.1
Ft Wayne &W V
100
Elec & Peo Tr stk tr ctfs 8934 90
4ermantown Pass
Eq 11 Gas-L 1st g 58 1928
50
Indianapolis St
& 13 Top con 5s'25 A-0
100
103'5
Indiana Union Tr....100
Indianapolis Ity 43.1933
Insurance Coot N A..10 21
211
/
4 Interstate 4s 1943 ..F.A
37
38
Inter Sin Pow & Chem.50
Lehigh Nay 4',s '14.Q-J 102
Keystone Telephone..50
RRs 4s g
6
1914.Q-1
Preferred
50 25
Gen St 4428 g.1924.Q-F
KeystoneWatchCase.100
Leh V C 1st 58 g '33 J-J 110
Lit Brothers
10 15
Leh V ext 4s 1st 1948.4-D
16
Little Schuylkill
50
2d 75 1910
51-8 106%
Edinelith & Schuyl H..50
Consol Os 1923
J-D 117
N Haven Iron & Stee1.5
Annuity Os
J-1) 14.3
Northern Central
50
(hen cons 48 2003.51-N
9419 95
North Pennsylvania..50
Leh V Tran con 4s'35J.1)
Pennsylvania Salt
50 100% 10015 New Con Gas 5s 1948 J.D
Pennsylvania si eel..100
Newark Pass eon 5s 1030
Preferred
100
NY Ph & No 1st 48'39 .7-.7
Phila Co(Pitts) pref...50 41
41%
Income 48 1939...M.1.1
Phil German & Norria.50 144
NoOlnoTrao con58.19.J.J
50 87
Plata Traction
Penn gen 81st' 1910..Var 104
10
Railway. General
Consul 5s r 1910. .Var
Busquen Iron & Steel..5
Penn & Md Steel con Os.
Tidewat er Steel
10
Pa de NY Can 58'39.A-0
Proit-rred
10
Con 48 1939
A-0
Tonopah Mining of Nev I
8% 878 Penn Steel 1st 58'17 51-N
100
Union Tr of lint
People's Tr tr certs 48'43
United N J RR & C.-100 242
P Co let& col tr 58'49 51-5 103',Unit Trac Pitts pref..50
Con& coi tr 58 195151.1
9534
Warwick Iron& Stee1.10
7
7-4 Phil Elec gold trust Ufa91)
9934
West Jersey & Sea 88.50
49
Trust certif8 48
6314 69%
Westmoreland Coal....50
P & K gel). MS g'20.A.0
Wilkes Gas & Elec..100
Gen NI 48 g 1920..A&0
1
.11ILA I/ELPIIIA
Bid
Highest
Range ior Preytout
Year (11)0?)
Lowest
Ask
Ph & Read 2d 58'33.21-0
Con M 7s 1911
J-D 106%
Con M 68 g 1911. J-D 105%
Ex Imp Al 48 g'47 A-0 1/942
Terminal 58 g 1941 14-F
P W & B col tr 4s'21 J-J
98%
Portland fly 1st be 1030.
Roch Ey& Leon 5s'54J4
97,
4
U Traci Ind gen 58.19.J-J
Un Rys Tr ctis 4s'49J&J
67
United Rya Inv 1st colltr
8f us 192ii
7314 74
U Trac Plt gen 55'97 J-J
Welabach s I 5s 1930.J-D
69
70
WIka-B G&Econ5s'55J-J
BALTIMORE
Inactive Stocks
Ala Cons Coal& lion 100
Prat
100
Atlanta& Charlotte-100
Atlan Coast Line R&M)
Atlan Coast L (Conn)100
Canton Co
100 82% 57
Cons Cot Duck Corp .50
Preferred
50
Georgia Sou & Fla...100
1st pref
100
'2d pref
100 65
G-13-8 Brewing
100
Bonds
Anacostia & Pot5s
At!& Ch ext 4',s '10.J4
Allan C L RB4a195251-8 90', 9112
Atl Coast L(Ct)ctla 5841.1)
etta of indebt 48
J-J
5-20 yr 48 1925
J..J
80
Bait0Pass 1st Os'1151-1
Bait Fundg 58 19113 Jid-N
Excnange 3148 1930 J-J
94
Bait& Plst6smI'll A.-0
Balt Trac lst 5s '29 M-N
No Bali Div 581942 J.D
Cent'l By con5s1932 Al.N
Ext.&. Imp 55.1932 SI s 110.4 112
Chas CityB,y let55'23J-J
4434 Apr24 43% Dec 51 Jan
3158 May19 22 Oct 4731 Jan
104 J'ne21,
7% OCt 1136Jan
5 Jan 2)
3 oct
8 Jan
25 Jan 18 1334 Nov 36 Jan
914 Apt lo
4 Dee 16 Jan
92 Mayit) 69 Oct 103 Jan
634 May is 48% Oct 7678Jan
2% Apr24
38 Nov
2',Jan
62 May19 x52 Nov 701128 Jan
414 Apr24 3334 Nov 48%Jan
tON J'ne 1 6418 Nov 9 Apt
18% Marie 812 Nov 4264 May
59% May Lb 3538 Oct 819' Jan.
42 Jan 2u 36% Nov 4538Jan
43 Mayl, 32',Oct 47 Jan
Si)', Apr23 41% No, 6038Jan
874 Mar
611',Oct 913,8Jan
25 rne22 25 May 30 Feb
13,11. CIAO (At:
Btu
Chas Ity & El 58'9951•S
Char'C& A eat 58.1)9 J-J
'20 78
1910 A-0
City& Sub 13t 5s..'22 J-D
City& Sub( Wits)lat 58'48
Coal & I By 1st 58'21)F.A
Col &Grnv 1st68.1916J-.1
eonsol Gas 68 1910.1.1)
58
1939 3-1)
Oa& Ala 1st con 5s'453 -J
GaCar&N 1st58g'29J-J
Georgia P 1st 68. '22 3-3
tlaSo OS Fla let 5» 1945J-J
il-B-S Brew 3-4s 11)5151-8
26 income 5s 1951 51-32
Knoxy Trac 1st 58'28A-0
Laken El 1st gu58'42M-S
Macon Ry&Lt I st5W53j-J
Memphis St 1st 58'45 J-J
Metsi(Wash)lstos'25F A
Mt Ver Cot Duck 1st os.
Npt N&O Plat 58'38 51-N
General 58
1941 51-S
Norfolk St 1st 5s'44..J-.1
North Cent4461925 A-0
Series A 58 1926....J -J
Series 165 1926....J-J
Pitt Un Trac bs 1997.3-1
Foto Val 1st Us 1941...14
Say Fla& West53'34 A-0
Seaboard A L48 1950 A-0
Saab & Roan 5s 1926.-14)
South Bound 1st 55..A.0
U El L&P lat448"..41 SI-N
Un By & El lat 48'49 14-S
Income 4s19411
J.D
Funding 58
Va Mid '2d ser 68'11.51.s
3d series Os 1910-M-b
4th ser 3-4-5s 1921.51-S
5th series Us 1926.M-8
Vii (State) 38 new '32.J.J
Fund debt 2-381991.J.J
West N C con 68 1914 J-J
WeaVaC&P let6g'11 J-J
Wil & Weld 58..1935.J...I
Bid and asked; no salsa on this day. ¶ Ex-rights. g 44.50 paid. ($12', paid. t $134 Paid. 2135 Diud. a
Receipts. 5 $25 paid. e $30 paid.
Highest
20 Jan 15 2714 May13 33 42Jan 35 Jan
65 Mar26 76 Apr e3 80 5lay 85 Jan
80 Jan 2 91 42J'ne2:. 784Nov 97 Jan
4
7 Ala) i
1•2
10 Nov 2314 Jan
10 Feb Is 13 Maylt 24 Dec 48 Jan
10 Jan e 11% 5Iar28
876 Oct 15 J'ne•
Philadelphia
.44
44%
3 American Railways-. 50 42% Mar 9
31's 31% 1,076 Cambria Steel
50 '2678 Feb 1)'
1058 1058 1,784 Electric Co of America 10 8 %Jan 25
'4
5
Gen Asphalt tr Otis ....100 3% Jan is
.21
22
6
Do pref tr ctfs ....100 1978Jan b
10 Lake Superior Corp....100 358 Feb29
'5', 6
.87
88
222 Leiugh 0 & Nay tr ctfs 50 78% Jan 2
x6014 61
5,595 Lehigh Valley
50 5258 Feb29
325 Marsden Co
•138 158
100 15
an20
5976
604 61)% 2,606 Pennsylvania KR
50 54'i Jan 2
•38
21 Philadelp'aUo(Pittat) 51) 34,
.38
3834
2 mar 3
9-j
936 91.4 1,646 Philadelphia Eleotrict 25 54 Feb2,
1414
14% 1536 13,770 Philo Rapid Transita 50 12 4J'ne
54%
50 46318 Feb 17
551% 5631a 32,366 Reading
42
.40
5
Do 1st pref
50 31) Jan 3
•41
41%
41
41
41
41
530
Do 2d ptef
30 37',Jan 2
47% 47%
4734 4919 48% 4914 7,808 Union Traction
50 x4444 J'nel0
85
8514
8514 8514 8534 86% 2,191 United Gas !rapt
50 7318Jan
.25
30
.25
30
•25
150 Welsbach Co
27
100 25 J'ne22
4434 •44'4
11114 .31
1034
1058
6
•4
2214 •2u14
57
.34
87
87
61% 61
60
61)4
•3814 3834
Wu 9',
14
14%
5 15iti
Thursday
June 25
Ask
102'2
10.3% 107
108%
102
101
99%
10914
102%
43% 44
104
109
109 %
7334 74
105',
111
ill
108%
54
541*
138
99
85
5034 51
70
103
104%
104
110
105
4$4214 pt
-ii
[VOL. Lxxxvi.
THE CHRONICLE
1582
Industrai and Misce
Bid Ask
15
I. onsol Car Heating_ _1(10
20
212
Cons Ety Lgt&Refrig_100
6
Consol Rubber Tire__100
TRANSACTIONS AT THE NEW IORK STOCK EXCHANGE
20
Preferred _____-100
DAILY, WEEKLY AND YEARLY.
33
Debenture 4s 1051A5c0
is
I Cons Steamship Lines 100
116
10
11
30
Coll tr 48 1057_ _ _J &J
Railroad.
Stocks.
100
Week ending
&c..
Stale
Corn Prod Ref See Stock Exe list
LI. S.
106
95
June 26 11)08.
Bonds.
eCruelble Steel
Bonds.
634 614
Shares.
Par value.
Bonds.
100 3912 41
56
ePreterred
85
Cumberland Ely Cepper.5 *712 734
Saturday _
$25,000
115,577 $10,285,700 $1,316,500
128
Co_1(10
127
Monday
2,459,500
elnamond Batch
74,000
477,844 42,752,850
134
10 *IN
1,338.000
Tuesday
Ferry Companies
Dominion Copper
60,200
382,749 33,297,400
*314 334
3 Douglas Copper
1,101,000
76,000
Brooklyn Ferry stock 100
Wednesday
205,727 17,652,700
96
Loon'y Lt & P (Joliet, Ill)
1,298,000
B & NY 181 Os 1011.1 J 390
Thursday
189,500
246,210 22,190,750
1st NI s f g lis 11.156_.1-1) 1 97
28
6.1
1,143,.00
Friday
57,500
N Y &ER Ferry stk_100 50
104,928 18,371,800
25
Electric Boat
100 15
1st Is 1022
N 50
8,656,500
Preferred
100
N Y & Hob Is May 46 J-D 185
Total
$482,500
88
1.433.035 $144.560.200
Electric Vehicle
100
Hob Fy let Is 1048M-N 4(02 104
Preferred
100
5
NY &NJ 5s 1946__J-J 195
Jan. 1 to Junt: 26.
Sales at
Week ending June 26.
Empire Steel
10th & 23d Sts Ferry_100
35
100
10
5
New York Stock
Preferred
100 45
150
55
60
1st
mtge
58
1019
J-D
1908.
1907.
1907.
1908.
Exchange.
eUnlon Ferry stock_100 1312 15 °Federal Sugar of N Y See Stk It x list
elst Is 1020
M-N 78 82 eGeneral Chemical- -100 55 65
2,454.727
83,999,221
Le33.635
115,945,227
Stocks-No. shares_ -ePreferred
100 90 100
$214,503,650
$144,560,200
$7,497,168,975
$9,892,181,485
Par value
Geldfield Curisol MInts_10 *514 538
Short-Term
Notes
$114,000
$500
$177,700
Bank shares, par
Am eig ser A 49 '11_ _M-S 41)412 95' Gold Hill Copper
1 *3, 12
Bonds.
20 '10
Sec B 48 Mch 15 '12M 8 Sir-12 9314 Greene Centime,
1014
$19,000
$369,320
$448,800 Am
Government bonds
34
10
*12
Tel
&
Tel
g
Greene
Consul
Gold
58
10
991.
J-J
6991.)
57,338,000
741,000
482,500
27,129,400 Atian
State bonds
88
10
Coast L Is '10_51-S 49'14 981: Greene Gold-Sliver
4`1:i
4,573,200
384,231.600
8,6-6,500
208,308,300 Balt
RR.and misc. bonds
& Onlo Is 1909_M-S 410618 1605) Guggenheim Explor' 100 145 160
41003,
etiackensack
Water
Co
Ches
&
Ohio
6s
Jly
1
101
'10J-J
$441,988,920
$235,886,500 Chic R 1 &Pc.c is '09 A-0 49914
$9.139.000 $5.333,200
Total bonds _
Ref g 4s '52 op '12 J-J 93
911
100 34) 35
Chic & W Ind Is '10_F&A 410012 10012 Hall Signal Co
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
On Ham &D4 As '08 5I-S 50 60 liavana Tobacco Co_100
8
11
EXCHANGES.
100 16
C C C & St L Is, June '11 110u Mi.
Preferred
19
Consol Gas es 1900-F-A 41111 1008
1st g Is June 1 22-J-1) 45
to
Erie Os, Apr 8 1911__ A-0 198 00
Hecker-Jones-Jewell Mill
Boston.
Philadelphia.
51-S 100
Interb B T g 63 1911 M-N 410) poll
1st 6s 1922
Week ending
Is Mch 1910
M'S 49714 9712 Eler'g-Hall-Mar, new_100 30
45
Bond
Listed
Unli.;ted
Bond
Listed Unlisted
June 26 1908.
Kan C So g Is Apr '12_J-J 494
1.5
Hoboken Land & lrnplOO
shares.
shares.
sales.
shares. shares.
sales.
Lack Steel g Is 1909..M-S 1.3 :: v5I e5s 1910
51-N /1-067
g 1910
2
100
Houston Oil
M-S 488
6
2,362
177
$22,000 Lake Sh & Al So Wit)F A 4l004 101..
$28,500
9,769
11,453
Saturday
100 20
Preferred
35
72,600 Lou & Nash g Is '10.51-S 100 loot, Hudson Realty
4,837
48,000
15,435
4,971
19,630
Monday
100 100 110
27,524 51ex Cent Is Ju:y 1 101, 49-13 00 el ngersoll-Itand com .100 60
3,411
11,814
54.000
14,277
7,651
Tuesday
46,532 Mich Cent Is 1910
2,662
9,030
2,856
9,062
Wednesday
49,000
100 83 91)
F-A 410014 1002
ePreferred
9,4102,7110,
3,0o5
52,828 Minn & St L 5s '11.F-A 492
17,248
Thursday
75,500
95
Internat'l Bank'g Co_100 100 ILO
82,000
912
23,392 Missouri PacificFriday
8,181
3.317
14,100
Mer Mar See Stk
Esc list
Gs FeblOil C convop F-A 498 9912 Internat'l Nickel__ 100 $1) 90
15,168 5914.e7e NatofMex 55 ext to'09 A-0 49934 1001..
69,513
23,732 $337.000
79,941
Total
Preferred
1440
80
N Y Cent 58 11110
F-A 110014 MTh International Salt_ _ _10u 13
18
N Y C LlnesEqp 5s'08-!,2 647g,„ 4125i
1st g Is, 1951
A-0 62
56
NYNH & H Is '08-'!. 310018 uoi
In ternat'l Silver
100
5
9
Norf & West 58 191011-N 19102 993,
100 52
Preferred
55
Pa RR Is Mch 15 '10 M'S 41o058 10072
1st es 11148
J-1) 1031,, 10512
A weektu review ot Ouende Markcs wilt be bound on a preceding page.
StLMS'east 4
492
12 Lackawauna Steel _100 34 - 26
St L&SFg4
14)12
88
Lanston Monotype- _30 *10
190
'08-JStreet Railways
98
Lawyers' Mtge Co___ _10(i 190 200
iS td Ask South'n coll tr Is '09_ A-0 $96
Street Railways
Bid Ask
South Fly g Is 1910 U-A 180 8s eLeh & Wilkes-B Coal 51) 90 110
Pub Serv Corp N J (Con)
New York City
Tid,wster 65, 1,13, fru..r 498
100 125 135
10
25
J C Hob & Paterson118'i, Lord & Taylor
Bleeck St & Ful stk.,100
101) 99 102
Preferred
4s g 1949
M-N 6714 68 U S Rubber g 55 '09 M-S 59712 98
75
85
e 1st in tge 4s 1950..J-J
Wabash is, May 10 1909 480
gs el.orillard (I') pref 100 125 135
So J Gas El& Trac _100 110 114
o li'y & 7th Ave stic_100 120 120
Madison Sq Garden_ .106 14) '20
Westingh O&M 65 1910 188
M-S 194
92
Gu g Is 1953
96
e 24:11 nitge Is 1914__J-J 93 100
51-N n
3d es 1910
Wheel & L E Is '08-F-A 107
No Hod Co Rytls'14 J-J 1105
86
92
Con Is 1943 SeeStock Exc list
eManhat Beach Co_ _ _luu
5s 1938
J -J 1104
2
6
B'way Surf 1st Is gu 1924 100 LOS
__20 *2
Transit__
Manhattan
Ext
Is
218
Railroad
90
130
1924_
_M-N
4101
f63
-stit__100
e Cen
Crosst'n
Mining
10
Mitchell
Peo
Chic
&
St
L
Pat City con Os '31 _J-D 4116 120
pref_100
O
12
•1st mtge Gs 1922_M-iv 100 110
Monongahela It Coal_50 * 4,4 412
Deposited stock
3d 6s__1914 opt A-0 1100
e Con Pk N & F. B stk 100 '15 100
58 2
5U '
Preferred
4 28
UndeposIted stock_
29
120 So Side El (Chic) See Ch lea $0 list-2
4 Chr't'r & 10th St stk 100
Mortgage Bond Co__ _100 80
Prior Hen g4 Yis'3UM AS 80
95
90
Col d: 9th Ave Is See Stock Esc list Syracuse B'! Is'415.M&S 101 10112
Trent P & li Is 1943..J-D 495 lot)
Con nitg g 58 1930..J&J
44
.11 Nat Bank of Cuba___100 99 102
Dry D E B & B104) 140 1471.
National Surety
Income Is, July 1930_
United RY8 of St L5
10
e 1st gold Is 1932__J-D 90 95
Copper_a
Cons'd
Nevada
eon' vet tr otfs
*1112 114
60
100 1812 20
100 1934 2014 Chic Subway
e Scrip 55 1914____F-A 50
Nev-Utah Min & Sur-10 *3
e Preferred
elis Ft W di Den Cy std_100 90 100
318
100
Eighth Avenue stock_100 225 300
eNew Central Coal. __ZO 25
Gen 4s 1934_ _See Stock 11:W list
Nat Rys oi Mexico40
e Scrip 6s 11114____F-A 100 105
linp_1(0.)
it,
Dock
Ter
list
'Pr. lien 4 Fis'57(w 1),74 92 93
N J
UnititysbanFran See Stk Exc
4 42d & Gr St ry stk_100 225 300
Wash Hy 5.; 121 Co
00n 61. 481977(WI) A-0 8418 8412 Ni',ni'Sraaeis See Stcic Exc
100 30
31
426 St NI & st N Ave_100 30
80
Preferred
North'n Securities Stubs_ 100 11,934 N V Biscuit 65 1911_5,S 11)0
100 78
e 1st mtge Os 1910_M-S 196 1-66100
45 1951
40
Pitts Bess it L E
50
50 *30
J- L) 79
$1.
3d Income es 1915-J-J
43 eNew l'ork Dock__ 100
ePreferred
Preferred
73 -fE"
100 17
50 *60
28
Inter-Met-See Stk Each ange list e West Chicago St
L8
_100
Secur.
ty
Mtge
&
Y
N
e
Con
list
g
5s
eRallroad
Exc
1938
Stk
See
rcts
140
5s
M-N
_
Securities CoLex Av &Pawl?
N Y Transportation _Zu
4312
111 C stk tr cfs ser A '52
Metropol St Ety-See Stk Exc ilst
Oas Securities
Niles- liem-Pond com_100 90 100
Seaboard CompanyNinth Avenue stock_ _100 110 133
NipIssing Mines
New York
1st preferred
35
100 30
Second Avenue stock _100 90 105
418 714
Silvia
100
elki curio
Cent UnGas 5s g '27.J &J 94
Com & 26 pret-See Bait Exc list
5
e let to tge Is 1909_M-N 91 ILO
96
514
100 35
Otis Elevator com
Seaboard Air Ltne92 Con Gas (N )0-See Stk Exc Ilst
41)
Consol Is 1948____F-A 87
104)
Preferred
Mutual
e
Gas
100
Is
Coll
ext May '11 51-S 1891.2 91
95
88
Sixth Avenue stock_100 115 130
140 15212
PI ttsburan Brewing _56
New Amsterdam Gas
Union P.:ellic 48 See Stk .xc
90
2018
Sou Boulev 55 1945-J-J 480
5U * 39
Preferred
let
5€ 1948 J-J 93
en!
,
40
Initustrial and Mises.
So Fer 1st 58 1919_ _ A-0 490 100
NY &LItGas 1st 56'44 .1-,1 95 Wu
Adams EX It e 48 1941 J -I, 188% 8912 Pittsburgh Coal..See Stk Exc list
Third Avenue-See Stock Exc list
Pope ManulacturIng_lUU
Congo! 55 11/45
J-J
12
18
33 *71
75
Tarry W P & M 5s 1928 470 90
87
u4 Ahmeek Mining
100 15
lit prelerred
N Y & Richmond Gas lui) 34
45
Alliance Realty
85
100
YicersStRR5s 1946 A-0 175
110
30
100
2d pre ten ed
Nor Un 1st Is 1927 __M-N 93
80
Allis-Chalmers Co lit nitg
1
9f1
28th & 29th Sts 151 Is '08
s 1 53 '36 opt '16
J470
Twenty-Third St stk 100 250 325 e Standard Gas com IOU
72 Pratt & Whitt' prof_100 -5E- 10212
75
Realty Assoc (13klyn) luu 115 118
e Preferred
100 n 70 119$
American Book
90
100 135 140
Union Sty 1st Is 1942 F-A 486
Royal Bak Powd cum luu 135 145
1st Is 1930
111-N 4100 103
American Brass
85
100 105 110
Westehest 1st Is '43 J-J 175
10.• 96
Ainet lean Cale16 cans. 04 1 i/ 192
Other Cities
98
Brooklyn
Safety
Car cleat & Lt-100 113 117
Amer
Light
&
Tract-10u
100
Preferred
1(10
93
lAS
105 107
Allan Ave Is 1909___ A-0 495
"A *60
Preferred
100 0312 95
60
Am Graphophonsoom100
L8
A-0 492
30 Seneca Mining
Con 5s g 1031
lou 450
50
Bay state Gas
Preferred
72 1
100 5(1
B B & 1V E 5s 1933-A-0 93 100
61 Singer Nifg Co
Standard Cordage..104)
12
Blugh'n Gas Is '38_A&O 93
Amer Hardware
WO 105
Brooklyn City stock_ _10 180 186
913
1e1_A-0
'al
1st IL g Is
Brooklyn Union Gas deb
30
Am/Inning 58 1914-J-1)
23
Con 5s-See Stk Each Exc list
101
Adjust 51 5s Apr 1 1931
Leis 1909 cony 1907..M-s 115 120
Amer Press Assoc'n_100 --__ 100
'214 314
Bkin Crosst'n Is 1908..J-J
Standard Coupler corn luu 30
40
Ant Soda Fount com_100
__
Bkn Hgts 1st Is 1041 A-0 05 106 - Ilu Belo City Gas stock IOU
412 6
1.4.50
Preferred
1st Is 1947-See Stock Exc list
100 110
1st preferred
100
- 20
tei Co & Sub See Stk Exc list
101)
10
7
3d preferred
100
2 Standard Milling Co._ IOU
Bklyn. Rap Tran-See Stk Exe list Con cas of N J Is '36..J-J 480
VO
Preferred
30
32
Am St Found iils '35 AS!) 492
4 Coney Is! & Bklyn_100 50 100 Consumers' L H & Pow97
M-N
1st Is 1930
Is 1938
J-D 406 100
American Surety
81
78
54.) 147:2 155
81)
1st cons g 4s 1948_ -J-J
J__100 596 604
Elizabeth Gas Lt Co_ _100 275
AtacriCali Thread pref__5 *4
100
Brk C & N 5s 1939_J-J
434 Standard 011 of N
Essex & Hudson Gas _1 OU 115 ifi Am Tobac(new) cunt 100 320 340 swat Sc Co-See Boat SILL Eat! list
Gept&LorSt 1st 68_M&N
1st Is 1910-1014-J-J
9934
Fort Wayne es 1925 J-J 40
Amer Ty pefders corn -100 35
38
Kings C El 4s-See Stock Exc list
50
Coal_10u
Preferred
Gas & El Bergen Co_100 b3
100 93
1)) 145
100
98 eTexasee Paelite Y -luu
Nassau Elec pref
58
of N
Amer Writing Paper-100
105 115
58 1944
A-0 93 1611 e Gr Rap 0 1st Is 15_F-A 198 101
134 112 rine las Co
_1
(Nevada)
Hilt
Tonopah
Preferred
Hudson Co Cies
100 Ill
100 103 106
858
1st 4s 1951-See Stock Exc list
21
eren ton Potteries comluu
Indiana Nat & 111 Gas1st s f g Is 10 op'09_J-J 82
3
N W'big&Plat 1st ex 4
84
8
Preferred, new
Barney & Smith Car-100
1st 6s 1903
40
50
M54)
Steinway 1st 68 1.922-J-J 497 163-20
14
1150
Directory
Trow
Preferred
Indianapolis Gas
100 1-1-0 12
50 30
30
40
Other Cities
42
Typewriter coin 1(h) 57
1st g as 11)53
A-0 185
02
Buffalo Street Ry93 eBethi'm Steel Corp _100 13
1".. Union preferred
1015 107 110
1st
ePreferred
100 40
lit consoi Is 1931 _ _F-A 410412 10102 Jackson Gas 55 g '37 _A-0 180
46
93
lto(1 102 105
Id preferred
Bliss Company corn
Kansas City Gas
100 50
Deb 6s 1917
50 II) 128
A-0 1104 106
U111 ted Bic Note Corp_ fiu *50
Preferred
e Laclede tias
100 n 7412 -7-(j
50 110 120
5212
Columbus to St Hy-100
Preletred
lv *50
Bond & Mtge Guar_100 295 335
e Preferred
100 a 76
Preferred
100 10414
53
Cigar Mfg,pf_100 88
Lafay'eGas 1st tit'24 _If- N
Colum Sly con 5s-SeePle la list
41) "ail Borden's Goad Milk-100 13/ 1,19 eUttitisi Copper
92
Wilted
100
Preferred
Log&WabV 151 es'25 J-D 25
612 7
Crosst'wn 1st Is'33 J-D 41,0 102
lttO 103 106
30
100
Preferred
Madison Gas tis 1221_ A-0 49912 106.. B:ItIsh Col Copper
eConn Sty & Ltg coin_ 10, 60
a *412 4'.
64
100
Butte Coalition Mining 15 *2134 2:32 O Casualty
ePreferred
75 Newark Gas Os 1944 _Q-J 4126
100 65
200
Grand Rap.ds
60 Newark Coesol Gas 100 87 -iki c4seein Co of Am cora_ I op
25
56
3 • net veiope com-10U
1
ePrefer red
llo 90
Preferred
1043
e Con g
100 4
Preferred_iou 80
J- 410212 19312
60
85
95
(.4 Ssteel Coe()orationCasualty Co of Amer 100 110 125
•Leuisv St Is 1930__J&J 11063..
No Hudson L U & PowCoi Le s I 55 '51 opt '11 4112 113
Lynn & Dos 1st 53 '24 J4) 410012 102
Is 1936
100 122 lie
A-0 98 -_ Celluloid Co
I
e New On Itys & Lgt-100 13
Col tr s Is '31 nut opt ill? 113
Cent Fireworks com-100
1312 e 0 & Ind C Nat&II1_100
15
8
*Preferred
referred
P
100 33
lit 65 1926
J-D 22 -2-7-12
100 45
G5 • Tit Co lc Indent_ lot)
75
tali copper Co-644 *a
Gen M g 4 Lis '35 see I. tk Ea list Pat & Pas Gase Elec_100 7t) 75 Central Foundry
100
Itst
114 21. et)
Waterbury Co, coaa_100
Preferred
ris 111411
North Chic Street See Ch ieago list
106
e Cou
M S 408 WO
all 12
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Preferred
Deb Gs 1011)op '01 M-N
Pub Set v Corp of N J100 75
104
80 St Joseph Gas 55 1 ii37 -J-J 475
55
62
90
85
Westenester & Bronx lit
61)
Century Realty
'Fr ctfs 2% to 6 %perpet 67
100 180 lint
Electric Cornitanies
Chesebrougn Mfg Co-100 -.00 444)
A Mtge Guar
Coll Si g notes '00,14LN 4951: 9014
100 1.45 150
Western lee
North Jersey Si By 100 27
32 Chicago Edisen Co See Ch i ears list
City Investing 00
100 65
160
60
31)
Weinman Air Ilrake___60
eCiafilii (ti )), eom-100 104) 105
1st 4s 1943
M-N 468
70 e Kings Co El L&PCo 100 1 la 118
it8
West El & Mfg 3e--eeee St Eae lilt
Narragan(Prov)
elst preferred
100 it) 95
70
Cons Tract of N
Co_5() 4.58512 90
14
e26 preened
1st 5s 1933
J-D $102 103
*se
100 90 _ White Knob Mie
10
N Y&Q HI L di1'owCo_10. 30
35
34
45,
Prefermil
Neveltl'asfty Is '30 J-J 1105
Preferred
1110 60
10
05 Cot A Houk Coal&I pf 100 65
ill
ivortning Pump pre4.100 100 105
let g Is 1017
Rapid 'Fran St Fty_100 '235
United Elec of N
co
J-J
40
9%86
lst le 1021
Col tr 68 Oct 1956_ _J-J
A-0 1101
1st 44 1049
J-7) (06
68
9212101 12
a Ex-rliruts
e Sells on Ste. Ea.. but not very active I New stuck n No.nta.u. • sale price. 101-div.
•• Pec share
4 Buyer pays accrued Int
Volume of Business at .'took Exchanges
Outside Securities
18
Teiegr & leephone
eAmer Teteg & eable_100
eCentral & So Amer_ _100
Cornell Un Tel (NY)_25
Emp & Bay State Tel 100
100
Franklin
eGold Zs Stock Teleg _1110
Hudsou River Teleph 100
eN Y & N J 'L eieph _ _ _ 1 Ott
eNorthwestern Teleg_50
Pacinc & A tlan tic
25
Southern & Ablantic_25
Rio
(14
100
104)
50
40
Ask
9
110
_
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1u0
_
.
107
105
65
00
JUNE 27 1908.1
THE CHRONICLE
1583
Autrestint tit aad *attroad Ittietitgaice.
RAILROAD GI-COSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
We add a supplementary
columns the earnings for the period from July 1 to and including such latest week or month.
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period.
The returns of the street railways are brought together separately on a subsequent page.
Laiest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year.
ROADS.
I
Latest Gross Earrings.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Current
• ear.
Previous
Year
N Y C & Hud Rivet April
6,782,25.. 3,019,261 18,019,061, /0,038,571
Ala Great Southern -See Sout hens Rail way.
Lake Shore do
April
3,093,05. .,538,631, 33,614,959 31,965,054
Ala N 0 & Tex Pac.
205,661 272,091 2,709,674 2,833,552
Lake Elie & West April
334,00, 402,123 4,990,41u •,Zo 1 ,u23
N 0 & N East-t May
113,431 130,567 1,426,214 1,433,760
Chic Ind & South April
265,68, 2,459,26. 2,1ee,01.,
100,22.
Ala & Vieksb__-t May
DO
1,441,120
1%365,943
,330
Michigan Central. April
122,118
2,021,134 2;367,877 22,558,110 22,/42.,,,.,
Vicks Sh & Pac-r May
3,313
Cleve C C do St L. April
38,735
3,008
38,779
1,734,816 _1,158,884 -1,249,4114 21,055,643
Ala Tenn & North_ _ April
7,301,388 3,404,368 77,571,762 77,887,330
Peoria & Eastern. April
197,641 223,232 2,440,396 2,019,)32
k Atch Top & S Fe_ April
111,151 148,758 1,468.915 1,307,502
Cincinnati North_ April
769,Oui
88,32'i
862,J.2
(1.5.913
Atlanta Birm & AU April
2,260,534 2,444,406 22,149,747 22,401,747
Pitts& Lake Erie. April
600,651 1,163,836 10,475,51. I1,/89,384
Atlantic Coast Line April
5,092,41)4 7,370,841 68,172,530 75,047,837
Rutland
April
Baltimore & Ohio__ May
210,521 251,181. 2,444,02, .,376,1,67
N Y Chic ec St
237,922 296,905 2,447,361 2,674,920
April
755,711 025,15. 3,472,211, 6,1240)8J
Bangor do Aroostook April
Total all lines..
54,048
9,371
55,767
epril
5,562
Bellefonte Central__ May
1509555i 19484401. 18839255.. 1.124,,41
9,882,282
Nevada Central_
33,036,474
63,64.
tpril
9,959
61,631
Boston do Maine-- r April
5,886
April
2,965
38,952 N Y Ont & Westen. on'
43,223
Bridgeton&Saco
3,438
665,358 707,503 6,688,45. C,781,3..
132,217 195,631 8,107,611 8,342,60(3 NYNH & Hart _ _r April
44,560,317
4,149,890
Buff (loch & Pitts_ _ 3d wit June
_
189,262 154,746 1,647.802 1,346,265 N Y Susq do West__ April
273,634 276,118 2,777,431 2,552,013
Buffalo & Susq_-__ March _
151,20e
202,301 8,793,700 7,164,700 Norfolk & Western_ April
1,994,048 2,681,216 24,802,781. 25,541.,335
Canadian Northern_ 3d wk June
941,501. 1,101,102 10,506,281 10,27.,481
Canadian Pacific_ _ _ 3d wk June 1,287,000 1,619,001 69,454,768 70,088,670 Northern Central __ April
4,982,475 8.731,127 63,876,198 62,592,755
Central of Georgia_ _ 2d wk June 188,400 185,10e 10,924,912 11,675,550 Northern Pacific.._ May
2,280,166 2,464,508 24,1)22,887 24,249,172 Pacific Goast Co_
April
503,65. 831,705 8,144,095 6,015,595
Central of N Jersey_ May
Chattanooga Sow h 2(1 wk June
1,801
3,241
,571,228
101.957
158,671 Peitasylvania Co __t April
36,1119,531
Chesapeake dc Ohio_ April
1,
;31n-East
9,209,021
1,716,811
'2,102,218 20,975,241
10521888 13370388 127568770 12898607o
P & E April
Chesterfield & Lane April
4,961.
6,071
45,205 , a West of Pitt& E April
Dec. 2 ,553,800
55,042
Dec.3.6 72,400
834,121 086,061 10,270,787 10,678,122 Pere Marquette.. _r March
Chic & Alton Ry--r April
10,590,957
_ 1,142,174
5.686,97e
Chic Burl do Quin-r April
Phila. Halt & Wash_ April
1,339,673 1,435,773 14,094,674 13,716,974
36,437,215
Chic Great West_ r 2(1'wk June 149,499 169,164 7,718,223 8,577,106 Pitts Cln Chic &
May
2,034,992 2,864,544 26,285,212 28,519,865
99,587 117,622 4,926,974 5,702,825 Pitts & Lake Erie -See New York Con tral.
Chic Ind & Louisv.. 2(.4wk June
Chic Ind & Southern -See New York Cen tral.
;Raleigh& Southport May
9,331
9,21..
111,707
91,589
4,224,62v 4,995,664 48,414,220 50,742,059 (leading Company.. April
Chic Milw & St Paul AprIl
3,269,977 3,998,089 35,425,491 .35,541,648
1,406,276 5,410,591 33,950,687 57,131,910
Chic & North West_ April
Coal & Iron Co_ April
4,453,707 4,121,379 32,861,571 .12,010,461
934,771 1,133,144 11,032,480 11,827,511 . Total both cos__ _
Chc St P M & Or
r April_ _
7,723,684 1,119,448 68,287,068 67,552,110
30,728
Chic Term Tran Rh 2d wk June
33,151 1,625,688 1,612,320 Rich Fred & Potom April
198,87o 107,126 1,623,067 1,563,350
520.071
Cinam & Dayt__r April
Rio Grande June_
April
6.766,772
61,744
683,878
63,373
682,169
Oin N 0 & Texas P -See Sout hern Rail way.
10,642
11Io Grande South.._ 2d wk June
11,633
574,201
577,175
Cincinnati Northern -See New York Cen Ira.
4,281,369 5,021,911 50,231,553 19,666,060
Rock Island System April
Clev Gin Chic & St L -See New York Cen tral.
3,075,399 4,318,683 40,340,243 41,243,177
• e StL & San Fran April
144,321 181,008 1,871,357 2,041,248
Colorado Midland-r April
I Evansv & Ter H April
159,506 191,353 1,887,942 1,918,037
7,516,274 3,529,947 92,459,740 32,827,275
h Col & South Sys_r 2d wk June 242,432 275,20( 13,701,482 12,776,917
Total of all lines_ April
28,384
24,929
205,533
210,690 Rutland
Col Newb & Laur__ February.._
-See New York Cen tral.
69,114
56,666
612,816
120,21r, 131,187 1,362,255 1,434,044
595,680 St Jos & Grand isl_ April
Copper Range
March
18,891
107,970
April
182,831 St Louis & San Fran -See Rock Island S ystem.
5,750
Cornwall _
222,491
201,126 9,377,024 10,015,773
38,015
320,379 St Louis Southw__ _ 3d wit June
105,82t
18,832
Cornwall & Lebanon February _
r1306,771. 91422,346 r13315,702 013628.40.209,758 208,973 1,720,385 1,574,863 Seaboard Air Line_ April
April
Cuba Railroad
35,634
34,094
1,527,625 1.716,598 16,684,033 15,140,130 Sierra Railway_
I Delaware & Hud_ April
May
Southern Indiana.. May
27,964,999
116,386 128,793 1,711,353 1,444,612
2,605,330
Del Lack & West--t April
3,138,097 10456227 105489359 103768364
Denver & Rio Gr.._r 3d wk June 354,700 469,201 19,809,543 20,338,853 c Southern Pac Co... April
25,833 1,133,701 1,242,513 Southern Railway... 2d wk June 886,58C 1,048,005 60,597,771 54,143,088
21,420
Detroit & Mackinac 2d wk June
Mobile & Ohio__ 2w wk June 148.05. 196,345 9,224,177 10,190,129
59,559
82,247 3,733,701. 4,106,382
Del Tol & lront Sy8 2d wk June
Cin N 0 & Tex P_ 2d wk June 133,201 182,414 7,537,612 7,968,609
5,487,430
91.842
Dui & Iron ltange-r April
Ala Great South_ 2d wk June
2d wk June
76,449 3,382,194 3,784,988
79,38, 2812,109 3,080,003
48,480
64,332
Dul Si Sh do AU_ _
Georgia Sou & Fla 2d wk June
April
43,818 2,095,346 2,171,099
3,639,733 4,671,401 11,819,118 14,134,216
32,533
Erie
•
Texas Central
2w wk June
977,616 1,189,782
Evanbvtlie & Ter H -See Rock Island S ystem •
19,559
11,484
17,187 Texas & Pacific...... 3d wk June 205,210 263,717 14.071,143 16,252,696
Fairchlld do Nor E_ _ May
1,781
1,529
17,293
Fonda Johns do Glov May.
706,483 Tidewater & West_ April
74,613
60,921
6,708
75,575
62,996
8,469
710,168
Georgia Railroad__ April
212,095 224,480 2,538,332 2,573.719 Toledo do Ohio Cent April
189,919 408,169 3,606,053 3,996,833
Toledo Pro & West_ 2d wk June
Georgia South dc Fla -See Soul been Rail way.
31,064 1,155,03e 1,228,439
25,616
Grand Trunk Syst_ _ 3d wk June 825,671 883,821 40,602,159 42,505,768 Toledo St L & West 2d wk June
76,337 113,110 3,655,954 3,990,076
1st wkJune
85,441 112,141 5,548,849 5,631,147 Tombigbee Valley__ March
Gr Trunk West
5,408
45,438
98.420
6,508
19,612
Bet GrHav & Mil 1st wkJune
25,228 1,594,853 1,656,008 Tor Ham & Buffalo May
81,83u
13,274
793,168
778,663
28,737
5,966,854 ,414,191 04,061,451. 62,686,673
Canada Atlantic.. 1st wkJune
36,114 1,816,587 1,818,695 iTh!on Pacific Syst_ April
3,612,482 5,639,540 51,195,132 50,781,937 Vandalla
611,336
Great Northern Syst May
April
7,863,270
29,071
45,907 1,903,319 2,215,73(1
82,93u
96,463
978,167
Gulf & Ship Island_ 3d wit May
Virginia & Sou West slay
963,524
240,595 613,233 5,089,536 5,563,465 Wabash
Hocking Valley.._ _ _ April
3d wk June 454,657 594,984 24,911,942 26,665,411
3,709,408 4,862,104 49,685010 51,727,739 Western Maryland April
440,876 525,47, 4,803,587 4,550,459
Minato Central _ _ _ May
133,000
118,001
6,755,044 8,000,270 W .)er & Seashore_ _ April
428,514 389.114 4.794,884 4,399,084
Inter do Great North 3d wk June
98,885 147,06e 5,126,225 5,817,085
a Interooeanic(Mex) 2d wk June 142,971 139,298 7,368,453 6,851,022 Wheel & Lake Erie_
wk June
53,984 2,025,480 3,070,104 Wisconsin Central_r April
51,637
549,120 686,617 6,225.494 8,175,520
3d wk June
Iowa Centra
129,679 219,139 1,720,184 1,031,754 WriThtsy & Tenn
15,989
21,182
241,103
Kanawha do Mich_ _ April
241,832
April
506.420 869,269 8,282,877 8,365,528 Yazoo & Miss Vail.. May
638,647 703,952 9,078,025 8,765,791
Kansas City South_ May
Lake Erle & West'n -See New York Cen tral.
Current
Previous
Lake Shore do M.Sou -See New York Cen tral.
2,982,167 3,164,357 32,443,531 32,261,828
Year.
Year.
Period.
Various FIscas Years.
Lehigh Valley___ -r May
57,598
35,265
428.023
473,276
Lexington & East__ April
Inc. 189, 216
Dec. 12, 322
April
Bellefonte Central
24,985
22,471
Jan 1 to May 31
Long Island
954,657
97,481 120,264
083,910 1Delaware & HudsonLouisiana & Arkan_ April
Jan 1 to April 30 5,855,301 1,933.987
26,219
21,610
Jan 1 to May 31
Loulav & Nashv _r 3d wk June 987,041 928,520 43,504,947 48,625,510 Manistique
136,163
11,273
158,325 Mexican Railway
9,522
Jan 1 to June 7 3,464,80( 3,487,700
Macon & Ilirmingh_ May
7,188,393
613,017
Mexican Southern
603,203
558,894
Jan 1 to June 7
Malin° Central -_--r AprIl
4,962
54,416
7,795
71,523 New York Central
Maly
Manistique
Jan 1 to April 30 26,580,907 29,828,030
322,209
_
35,545
207,629
Lake Shore & 2,11ch Southern_ Jan 1 to April 30 12,251,023 14,027,773
34,217
Maryland & Penn_ _ AprIl
2,696,016 2,920,992 30,074.969 25,494,127
Lake Erie & Western
Jan 1 to AprIl 30 1,356,009 1,504,193
a Mexican Central_ _ AprIl
Chicago Indiana & Southern_ Jan 1 to Apr1130
999,843
954,288
a Mexican Internat. 2d wk June 153,037 203,092 7,961,432 8,131,246
Jan 1 to April 30 7,845,061 0,086,395
Michigan Central
a Mexican Railway_ 1st wkJune 148,300 159,500 7,645,300 7,101,500
21.538
26,775 1,214,948 1,227,957
Cleve din Chic & St Louts... Jan 1 to April 30 7,241,464 7,823,456
a Mexican Southern 1st wk.Ium
Cern
tral.
Jan 1 to April 30
871,976
922,210
Peoria & Eastern
MIchtgan Central-- -See New York
61,373
Jan 1 to April 30
916.279
87,691
310,987
243,610
Cincinnati Northern
Midland Valley_ _ _ _ April
658,573
15,591
772,202
15,339
752,544
fan 1 to April 30 2,613,167 4,355,347
wk June
Mineral Range
Pittsburgh & Lake Erie
70,708
87,735 3,741,771 3,764,563
845,028
772,437
Jan 1 to April 30
Miuneap & St L__r_ 3d wk Jun
Rutland
Minn St P & S SM.. 3d wk June 192,671 266,715 11,198,213 12,403,490
New York Chicago & St Louis Ian 1 to April 30 3,227,565 3,508 451
1,520,746 2,026,892 20,068.201) 21,798,955
Mo Kansas do Texas April
Total all lines
Jan 1 to April 30 63,957,517 73,301,720
Mo Pac & Iron Mt.° 3d wk June 679,000 866,000 41,780,689 45,709,078 Northern Central
Tan 1 to April 30 3,501,227 4,0(18,827
22,005
Central Branch.° $d wk June
29,000 1,490,804 1,595,000 d Penn-East of Pitts do Erie..
fan 1 to ADM 30 41,897,420 10,573,929
Dec.6, 863,000
Total system ---o 3d wk June 701,000 805.000 43,270,689 47,3(4,078
d West of Pittsburgh & Erie.. Jan 1 to April 30
22,306
27,208 1,395,369 1,457,583 PhIla Balto & Washington
Jan 1 to April 30 4,939,536 5,211,336
0 Mobile Jack & K C Wk Jun 13
F06,909 1.130,479 9,218,528 1(1,002,367 Pltts din Chic & St Loetis
Nashv Chatt & St L April
Jan 1 to May 31 10,019,170 13,181,840
287,279
318,639
Dee 1 to April 30
a Nat RR of Mexico 2d wk June 280,272 303,093 15,001,3411 15,006,730 Rio Grande Junction
21,361
20,902
943,895
949,105 Texas & Pacific
Ian I to June 21 5,793,217 7,941,576
Hidalgo & N K.._ 2d wit June
'4,,..
()AU
533.411
Nevada-(al-Oreron. ?d wit In
5,415
351.353 Weqt, ,T,..-e,..- .. ‘
Jan 1 to Anet:10 1,353.478 1 340178
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Weekly Summaries.
Ctient YearPree's Year Inc. or Dec.
-1
Monfhlv Summaries,
Client Year Press Year Inc. or Dec.
$1
8,138,475 9,87(1,161 -1,734,888 17.54
Month Aug 1907 (121 roads). 197,288 033 175.726,323 +21.561,710 12.27
(42 roads).....
_
8,247,262 10,087,732 -1,620,470 18.08
Month Sept 1907 (118 roads). 192 548,022. 175 505 039 +17,042.953 9.71
(44 roads)
Month Oct 1907 (120 roads). 213.697,727 196,843,678 +16.854,049 8.56
(45 roads).--.. 10,827,078 14,207,506 -3,380,428 23.70
7.811,943 9,891,3(17 -2,079,364 21.02
Month Nov 1907 (120 roads). 189,958,554 184.197.391 +5,791 173 3.14
(43 road6)--- 7,056,788 10,168,254 -L.207,486 1.70
Month Dec 1907 (123 roads). 174,422,461 184,893,810 -11,471,359 6.20
(44 roads)---8,016,707 10,054,378 -2,105,920 20.80
Month Jan 1008 (122 roads) 151.758,406 172,283,006 -21,524,000 12.49
(43 reads)
10,817,742 16,219.751 -4,402,000 28.02
Month Feb 1000 (123 roads).. 141,256,206 160,150,610 -18.894,404 11.79
(42 roads)9,963,558 --1,970,037 10.82
7,993.521
Month Mch 1008 (126 roads). 162.495,089 187.435,350 --24,940,2131 13.37
(42 roads)- - 8,280,764 10.263,171 -1.982,413 10.32
Month Ant 1958 MO roads).. 154,137,108 190,046,156 -35,908,988 18.89
(43 roads)41,794,745 --1.207,109 15.00
5,497,544
Unnth May 1908 ( 52 roads) _ 42.073.897 55.305.677 -13,321.780 24.05
(18 roads) _ _ _ c Includes the tiortsten it re&ILS °austral and its subsidiary fines in beef*
a Iiierloan currency. tfr Includes eftruhigs of Gulf & Chicago
years. rt Covers lines directly, operated. e Includes the °Waage & gaiters Illinois In both years. I Includes 21Yeasritio & Indiana alt. a Includes
sakategn of Mil. a Sarah., Pb. Vforth & Deaver City and all affiliated lines, excepting TrIntty 4Brazos Va4Ley RR. 7. Jacleden In both years earalafte
Vesiorerr !Inn, & Otkif RR.. Pecos Valley System and Santa Fe Prescott de Phoenix RI. I These figures de riot Include receipts from sale of coal.
o Figures here are on the old basis of aceonntinz-not the new or Inter-State Commerce Commission method. r These agues are on the new
basis prescribed by the Inter-State Commerce Commission.
. - •-2d
3d
4th
1st
2d
ad
4th
1st
2d
3d
week Apr
week Apr
week Apr
week May
week May
week May
week May
week June
week June
week June
1584
Third week of June.
1908.
1907.
3
Buffalo Rochester & Pittsburgh
195,639
132,217
Canadian Northern
202,300
151,200
Canadian Pacific
1,287,000 1,619,000
Denver & Rio Grande
469,200
354,700
Grand Trunk of Canada.
883,825
Grand Trunk Western
825,675
Det Grand Haven & MIlw_ _1
Canada Atlantic
133,000
118,000
International & Great Northern
53,984
Iowa Central
51,637
928,520
787,045
Louisville & Nashville
87,735
70,708
Minneapolis do St Louis
192,671
MInneap St Paul & S S M.
266,715
679,000
Missouri Pacific & IronilMtn_ _ _
866,000
29,000
Central Branch
22,000
St Louis Southwestern
201,126
165,826
Texas Pacific
205,210
263,717
594,984
454,657
Wabash
Total (18 roads)
Net decrease (19.03%)
[VOL. Lxxxvt.
THE CHRONICLE
- --Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the earnings for the third week
of June. The table covers 18 roads and shows 19.09%
decrease in the Aggregate for the same week last year.
5,497,546 6,794,745
Increase. • Decrease.
3
63,422
51,100
332,000
114,500
58,150
-
15,000
2,347
141,475
17,027
74,044
187,000
7,000
35,300
58,507
140,327
1,297,199
-Bal. of Net E'ngs.Previous
Current
Year.
Year.
Rentals,
Current , Previous
Year.
Year.
Roads.
Abington & Rockland Elect.
1,116
327,
Power
Co_ _
Light &
385
223
6,03
7,181
Jan 1 to Apr 30
862
740
b348,302
Central of New Jersey __May
85415i) 8280,477
753,375
6,055,245 7,340,649 b4,623,830 83,989,203
July 1 to May 31
4,723
4,868
2,161
Ed El Co (Brockton)_ _ __Apr
1,243
22,529'
4,689
25,876
3,347
'Jan 1 to Apr 30
10,255
Apr
8,015
2,369
Fall Riv Gas Wks
2,175
42,497
3,258
33.801
2,573
Jan 1 to Apr 30
6,879
4,399
Houghton Co El Lt Co_ _Apr
3,676
3,362
36,829.
12,713
29,067
10.549
Jan 1 to Apr 30
6,077
4,823
Lowell Elec Lt Corp_ _ _ _Apr
7,016
3,661
33,999
10,103
7,065
31,528
Jan 1 to Apr 30
31,152
13,799
Apr
24,732
10,928
Minn Gen Elec Co
106,473
76,179
72,221
69,007
Jan 1 to Apr 30
8,333
8,333
10,679
10,190
Rio Grande Junction__ _ _Apr
41,606
41,666
53,925
44,515
Dec 1 to Apr 30
2,584 def40,070
2,584
26,298
May
Texas Central
28,915
28,915
444,508
155,983
July 1 ot May 31
-1) Included in fixed charges are expenditures for renewals, additions and
improvements amouhting to nil for May 1908, against 5135,143 in 1907.
and from July 1 to May 31 were $1,150,083 in 1907.
x After allowing for other income received.
STREET RAILWAYS AND TRACTION COMPANIES.
For the second week of June our final statement covers 43
roads and shows 19.32% decrease in the aggregate over the
same week last year.
Second 'week of June.
1908.
1907.
Jan. 1 to latest date.
Latest Gross Earnings.
Name of
Road.
Week or
Month.
Increase. Decrease.
Current
Previous
Year.
Year.
-----$
$
249,160 1,070,700 1,103,084
992,293
116,415
495,862
33,955
20,240
698,618
42,836
28,337
7,815
26,324
5,999
74,393
87,372
16,880
270,317
281,284
64,030
306,040
280,670
61,399
338,741
358,348
72,558
98.191
95,800
24,257
52,811
99,558
49,558
87,977
78,724
26,450
352,865
339,060
84,171
135,824 2,924,498 2,921,453
345,790
367,441
15,981.
819,991
811,267
179,605
152,106
175,842
37,966
Current Previous
Year.
Year.
246,898
American Rys Co_ _ _ _ May
119,049
cAur Elgin & Chic By May
35,414
Bangor Ry & Elec Cc May
22,730
April
Binghamton By
176,527
firm RY Lt & Power April
48,156
Boston & Worcester_ May
8,155
Brockton & Ply St Ry April
12,694
Camaguey Co
May
18,073
Cape Breton El Co_ _ _ April
60,549
Central Penn Trac__ _ May
63,695
Chariest Con Ry G &E May ..._ _ _
68,685
dChlcago & Oak Park May
23,930
Cleve Painesv & East May
52,811
Cleve Southw & Col__ January
28,701
Columbus Electric Co March -- - 91,617
Dallas Electric Co.._ _ April
fDetrolt United Ry__ 2d wk June 132,155
16,512
Duluth Street Ry
2(1 wk June
159,882
East St Louis & Sub. May
41,536
April
El P.so Electric
Ft Wayne & Wabash
360,958
397,976
99,740 93,940
9,048 1,991,461
Valley Traction Co. April
306,456
322,316
79,808
83,447
1,982,413 Galv-Hous Eke Co __ April
80,986 78,487
Grand Rapids Ry Co_ May
827,030
901,529
32,013 31,608
Havana Electric Ry _ Wk Jun 21
Rapid Tran
Net Earnings Monthly to Latest Dates.-The table fol- Honolulu
118,654
119,822
29,662
29,243
April
& Land Co
70,981
76,461
20,671: 19,387
lowing shows the gross and net earnings of STEAM railroads Houahton Co St By.. _ April
319,592 293,871 1,589,24e 1,309,109
Co.._
Traction
May
Illinois
reported this week. A full detailed statement, including all Jacksonville Elec Co_ April
125,853
137,082
29,914
35,880
492,472 472,666 1,941,652 1,853,660
roads from which monthly returns can be obtained, is given Kans City Ry& Light April
180,989
174,009
45,992 47,127
once a month in these columns, and the latest statement of Knoxville By & Lt Co April
179,576
175,937
64,111
61,864
March
Lake Shore Electric__
157,572
175,069
40
46,359
this kind will be found in the issue of June 20 1908. The Lex
,852
h Inter Rys Co__ April
195,054
219,068
55,559 49,139
Little R'k By & El Co April
next will appear in the issue of July 25.
482,161
492,502
132,239 124,072
Memnhis Street Ry.._ April
224,931 234,705 1,093,184 1,158,017
-Gross Earnings- -Net Earnings-- Met West Side Elev__ May
323,442 313,992 1,536,570 1,502,361
previous
Current
Current
Previous
Milw Elec By & Lt Co May
266,369
66,730
5/,941
Year.
280,732
Year.
Year.
Year,
Mllw Lt He & Trac Cc May
Roads.
87,262 1,674,270 1,589,997
$
3
3
Montreal Street Ry.... Mc June 20 85,024
3
117,572 124,857
484,144
489,911
Abington & Rockland Elect
Nashville By & Lt___ April
49,461
44,553
160,555
181,422
Light & Power Co_ b_ _Apr
3,988
4,286
1,050
1,501 NJ &HR Ry&Fy C oMaY
158,410 158,288
667,015
663,299
Jan 1 to April 30
May
17,000
19,884
7,921
6,898 North Ohio Trac & Lt April
79,351
79,052
313,052
316,515
North Texas Elec Co..
Central of Georgla_a_ _ _ _May x719,041
955,735
z80,288
143,465 187,097
629,013
558,917
142,258
July 1 to May 31
' 110,571,212 11,296,850 x2,280,683 . 2,497,417 Norf 33'Portsm Tr Co April
9,039
8,087
48,023
No Westchester Lt Co May
Central of New Jer_ b_ __May 2,280,166 2,464,508 1,033,852 1,202,461
146,016
162,751
680,893
776,618
Northwestern Elev __ May
July 1 to May 31
22,209
24,733
91,289
97,832
24,922,887 24,249,172 10,679,075 11,329,852 Oklahoma City By.... May
12,314
12,424
59,330
60,256
May
Chattanooga South _a_ _ _Apr
RP
Peekskill
Light
&
6,492
def.448
19,205 17,284
52,739
51,961
July 1 to Apr 30
Pensacola Electric Co March - -_ - 341,493
def.1,100
92,082
314,940 1,350,756 1,151,385
April
Co
Portland
P
L&
BY
Demerara Electric Co_ __May
28,921
4,070
9,805
9,892
27,733
139,022
146,414
3,546 Porto Rico Rys Co...... May
Jan 1 to May 31
20,967
48.783
49,757
213,291
240,479
20,218 Puget Sound Elec By February - 117,501 105,775
Ed El Co (Brockton) b_ _Apr
7,029
16,605
14,381
Tram
Janeiro
Rio
de
5,966
585,752
2,764,012
Jan 1 to Apr 30
30,565
74,522
63,368
Light & Power.. _ _ _ May
25,876
Joseph (Mo) By Lt
Fairchild & Northe'n b_May
1,524
654
1,785
300 St Heat
67,896
72,447
329.183
340,711
May
Co__
Power
&
July 1 to May 31
17,187
801
17,293
def2,619 Sao Paulo
187,86( 163,642
864,501
961,802
Tr Lt & P. MaY
Fall Illy Gas Wks_ b___Apr
46,913
46,091
183,469
184,291
27,843
27,916
10,384
12,427 Savannah Electric Cc April
Jan 1 to Apr 30
356,089 323,005 1,419,881 1,222,889
127,889
123,818
37,059
45,070 Seattle Electric Co_ _ _ Ariril
758,160
184,935 170,314
871,237
Houghton Co El Lt Co_ b Apr
17,755
19,241
8,075
10,241 South Side Elevated.. May
58.753
13,077 ' 59,363
13,763
Jan 1 to Apr 30
83 485
88,595
41,780
47,378 Sou Wisconsin By Cc May
65,085 61,399
Springfield Ry& LtCe May
Kan City Southern_a_ _ ..May
596,420
869,269
160,439
490,580
517,203
347,115
108,280 102,889
July 1 to May 31
8,282,673 8,365,528 2,542,596 3,202,901 Syracuse Rap Tr Ry_ May,
168,598
181,482
44,500 42,383
Tampa Electric Co.._ April
Lehigh Valley- b
May 2,892,167 3,164,357 1,358,657 1,264,540 Toledo Rvs & Light_ May --- - 198.973 11)8,502 1,028,607 1,033,353
July 1 to May 31
69,023 69,482
32,443,535 32,261,828 11,733,527 12,259,449 Toronto Railway__ _ _ Wk June 20
125,593 114,407 2,674,615 2,551,958
Lowell Elec Lt Corp_ b_ _Apr
27,365
24,728
11,839
9,733 Twin City Ran Trait_ 2d wle June
Jan 1 to Apr 30
114,108
103,647
41,064 kUnderground El Ry
41,631
of
London.
three
Minn Gen Elec Co_ b_ __Apr , 76,476
71,705
16,760 £268,680 £144,045
42,080
38,531
Wk June 6 £11,531
tube lines
Jan 1 to Apr 30, 338,085
308,531
£8,288 £204,835 £182,730
175,480
£9,108
148,400
Metropolitan Dist_ Wk June 6
£6,634 2132,654 1,134,113
Missouri Paciffc
t7,843
• Apr 3,079,976 4,166,446 1,001,243 1.509,688
United Trarriways_ WX June 6
2,128,343 2,176,030
586,977
July 1 to Apr 30
37,898,690 40,457,079 10,249,859 13:
508,650
Antil
3 54 770 United RR of San Fr.
920,765 947,338 4,248,217 9,326,423
Pitts Cln Chi & St L_a_ _May 2,034.992 2,864,544
United Rys of St L__ May
57,270,
118.161
27,737
29,494
109,063
Whatcom Co Ry&Lt April - - Jan 1 to May 31
10,019,170 13,181,840 2,367,514 2,8626
Rio Grande Junction.. _ _ _Apr
61,744
63,373
n18,523
n19,012
These
company.
d
are
ated
results for
Dec 1 to Apr 30
287,274
318,639
c These figures are for'consolle
n86,181
n95,591
main line.
No earnings for Detroit Jackson & Chicago Ry. for Jan. 1907
Texas Central
96,114 edef37,486
e35,043
May
28,882 included in f
these figures. k Does not include the Charing Cross Euston
July 1 to May 31
,953.020 1,149,071
184,398
472,923 & Hampstead
By. for Nit ear.
Virginia & Southw'n_b_May „ 82,930
96,463
33,031
23,311
963,524
July 1 to May 31
976,167
275,353
306,639
Net Earnings.--In the following we show
Railway
Street
Western Maryland_a___Apr x440,876
525.479
x160,171
201,178
July 1 to Apr 30
x4,803,587 4,550,459 x1,597,887 1,458,567 both the gross and the net earnings to latest dates of all
Previously reported (26 roads).. 6,045,172 7,555,715
Alabama Great Southern
76,449
64,332
Central of Georgia
185,100
188,400
Chattanooga Southern
3,245
_
1,601
Chicago Great Western
160,164
149,494
Chicago Indianapolis & Loulsv.
117,622
99,587
Cln New Orleans & Texas Pac_ _
182,414
133,206
Colorado & Southern
275,200
242,432
Detroit Toledo & Ironton
82;247
59,559
Georgia Southern & Florida_ __ _
43,818
32,533
Mobile & Ohio
196,345
148,059
Nevada-California-Oregon
5,415
6,839
Rio Grande Southern
11,633
10,642
Southern Railway
886,586 1,048,005
Texas Central
19,559
11,484
Toledo Peoria & Western
31,064
25,616
Toledo St Louis & Western.. _ _ _
113,116
76,337
Wheeling & Lake Erie
147,066
98,885
-.Total (43 roads)
8,280,764 10,263,177
Net decrease (19.32%)
4,324 1,514,867
12,117
3,300
1,644
19,670
18,035
49,208
32,768
22,688
11,285
48,286
1,424
991
161,419
8,075
5,448
36,779
48,181
a Net earnings,here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
C Figures revised for previous year so as to accord with thenew classification of earnings and expenses now required by the Inter-State Commerce
Commission.
e Large decrease in May due to washouts.
n These figures represent 30% of gross earnlngs.
These figurt s are on the basis of accounting required by the InterState Commerce C,mmisslon.
Interest Charges and Surplus.-The following roads, in
addition to their gross and net earnings given in the foregoing,
also report .charges for interest, 4Ec., with the "surplus above
or deficit below these charges. .•
STREET railways from which we have been able to procure
monthly returns. As in the case of the steam roads, the
returns of the different roads are published by us each week
as soon as received, and once a month we bring together all
the roads reporting, as is done to-day.
•
•
--Gross Earnings-Current
Previous
Year.
Year.
Roads.
119,049
Aurora Elgin & Chicago_May
116,415
July 1 to May 31
, 1,275,515 1,195,077
35,414
Bangor Ry & Elec Co_ __May
33,955
22,730,
Apr
Binghamton By
20,240
176,527
firm By Lt & P Co-a- _ _Apr
698,610
Jan 1 to Apr 30
--Net EarningsPrevions
Current
Year.
Year.
56,279
571,236
19,868
7,885
67,425
241,178
54.543
543,251
15,917
6,863
• _ --
THE CHRONICLE
JUNE 27 1908.1
----Gross Earnings-- --Net Earnings-Previous
Current
Previous
Current
Year.
'Year.
Year.
Year.
$
a
$
•
5
Roads.
16,989
42,83d
24,265
48,156
..May
Boston & Wore Si Ry
87,329
110,168
276,729
304,845
'
Oct
1 to May 31
,
1,856
8,155
7,815
995
Brockton &Plym_b-___Apr
3,233
28,337 ' 26,324
'def 284
•
Jan 1 to Apr 30
2,979
,6,196
5,994
May
12,694
Camaguey Co
4.438
16,880 ,
18,073 ,
7,283
Cape Breton Mee Co_ b_ _Apr
15,133
67,372
26,607
74,393
Jan 1 to Apr 30
14,179
15,303
60,549
64,030
Central Penn Trac Co_ _ _May
44,404
270,317
281,284
43,474
Jan 1 to May 31
23,761
61,399
23,182
63 695
Charleston Con Itys ec El May
63,000
186,241
172,859
65,465
Mch 1 to May 31
12,242
24,257
10,759
23,930
CleVe•Painesv &East _ a _May
98,191 ,
92,296
95,800
41,338
Jan 1 to May 31
52,811
19,954
Col_Jan
49,558
16,369
Cleveland Southw &
12,278
28,701
26,450
__Mch
14,083
Columbus Elec
Co_a_31
87,977
37,722
78,724
44,028
Jan 1 to Mch
Apr
23,541
30,871
91,617
84,171
Dallas Elect Co-b
74,101
352,865
339,060
93,426
Jan 1 to Apr 30
599,643
219,872
587,621
233,768
Detroit United _a_ _ _ _ _ _May
2,649,635 2,652,900
918,603
Jan 1 to May 31
923,519
68,719
33,768
67,291
26,267
Duluth Street Ry_b_ _ _ _Apr
263,019
112,667
90,291
243,988
Jan 1 to Apr 30
159,882
179,605
83,453
68,436
East St Louis & Subur_ May
811,267
366,967
819,991
385,898
Jan 1 to May 31
41,536
37,966
7,397
9,105
El Paso Electric Co_ b_ _ _Apr
152,106
175,842
45,364
30,899
Jan 1 to Apr 30_,_
• 93,940
35,658
40,359
99,740
Ft Wayne &W Val TrCO.Apr
397,976
360,958
Jan 1 to Apr ,30
166,161
136,766
_Apr
Galv-HoUst El Co_
79,808
34,874
83,447
30,598
30
322,316
306,456
Jan 1 to Apr b_111,376
108,519
Grand Rapids Ry Co_ May
80,986
78,487
42,152
41,765
Honolulu R T do L Co_ b_Apr
29,243
29,662
10,607
12,947
Jan 1 to Apr 30
119,822
118,654
52,101
49,912
Houghton Co St Ry b- _ _Apr
20,679
19,387
7,974
8,815
Jan 1 to Apr 30_
76,465
17,343
70,951
24,129
Traction
Illinois
Co_ a_ _ _May
319,592
293,875
125,120
126,900
Jan 1 to May 31
1,589,246 1,390,109
600,425
638,911
Jacksonville Elect Co_b_Apr
35,880
29,914
12,236
14,312
Jan 1 to Apr 30
137,083
125,853
45,611
44,171'
Kan City Ry de Lt Co_ b_Apr
492,472
472,666
224,815
226,946
June 1 to Apr 30
5,620,390 5,226,282 2,694,061 2,594,614
Knoxville Ry & Lt Co_a_Apr
45,992
47,127
22,461
23,352
Jan 1 to May 31
174,009
180,989
78,023
78,719
Lake Shore Elec Ry Co a Mch
61,809
64,111
25,631
22,719
Jan 1 to Mch 31
175,937
170,576
64,479
67,976
Lexington &Interurban _ Apr
46,350
40,852
15,0/9
12,930
Jan 1 to Apr 30
175,069
157,572
55,791
50,735
Little Rock Ry&EICo_a_Apr
55,559
49,139
27,952
23,530
219,068
195,054
Jan 1 to Apr 30
110,022
83,402
132,239
Apr
Memphis St Ry Co_a_
124,972
49,821
46,452
992,502
482,161
172,620
Jan 1 to Apr 30...1
167,881
323,442
313,992
Milw El Ry & Lt Co_ b_ _ May
155,303
157,725
1,536,570 1,502,361
694,560721,856
Jan 1 to May 31
66,730
57,941
Milw Lt Ht & Tr Co_ b_ _May
37,535
32,201
280,732
266,364
Jan 1 Ito May 31
135.780
138,018
May 313,679
Montreal Street Ry
295,952
143,055
125,456
2,341,552 2,169,636
Oct 1 to May 31
855,928
759,068
143,465
Norf de Portsm Trac Co_ ,Apr
187,997
69,905
59,777
Jan 1 to Apr 30
558,917
629,013
200,268
217,851
Northern Ohio Tr & Lt_ _May
158,410
158,288
63,531
64,087
Jan 1 to May 31_
663,299
667,015
244,537
254,417
Northern Texas El Cob Apr
79,351
79,052
31,571
33,885
Jan 1 to Apr 30
316,515
313,052
121,366
127,562
Nor Westchester Lt Co.aMay
9,039
8,087
3,788
2,363
Jan 1 to May 31
48,023
18,830
Oklahoma City Ry Co_ May
24,733
22,209
10,692
7,110
Jan 1 to May 31
97,832
91,289
29,120
31,317
Peekskill Ltg&RR Co_a_May
12,314
12,424
5,031
4,863
Jan 1* to May 31
60,256
59,330
22,834
23,606
Pensacola Electric Co_a_Mch
19,205
17,284
5,338
6,296
Jan 1 to Mch 31
• 52,739
51,961
11,638
17,518
Puget Sound Elec Rya-Feb
117,501
105,775
31,500
30,652
, Jan 1 to Feb 29
240,479
213,291
64,243
55,648
Portland Ry Lt & Pow_ _Apr
341,493
314,940
163,824
130,758
• Jan 1 to Apr 30 ,
1,350,756 1,151,385
651,381
416,869
Porto Rico Rys Co Ltd May28,921
27,733
11,886
11,367
Jan 1 to May 31
146,414
139,022
63,429
54,148
Rio de J TramL&PCoa_ May
585,752
213,729
Jan 1 to May 31
2,764,012
1,000,058
Sao Paulo Tram Lt & P_May
187,860
163,642
117,644
102,504
Jan 1 to May 31..
961,802
864,501
624,890
572,496
Savannah Elect Cob- __Apr
46,091,
46,913
16,877
18,161
Jan 1 to Apr 30
184,291
183,469
37,081
64,783
Apr 356,089
Seattle Elect Co- b
323,005
143,604
126,126
Jan 1 to Apr 30_,____ 1,419,881 1,222,889
472,659
445,872
Springfield Ry & Lt Co_..May
65,085
61,399
30,143
28,253
72,447
St Jos RyLt & P Co_- _ 11,1ay
67,896
32,215
32,616
340.711
- Jan 1 to May 31
329,183
154,321
152,425'
108,280
Syracuse Rap Tran Co_ ,May
102,889
45,799
42,280
517,203
Jan 1 to May 31
490,580
205,176
212,713
Tampa Elect Co- b
44,500
Apr
42,383
13,541
11,216
Jan 1 to Apr 30
181,482
168,598.
57,391
47,640
Tciledo'Rys & Lt Co _a_ _ May
198,973
198,502
89,529
73,261
Jan 1, to May 31
1,028,607 1,033,353
453,677
423;169'
Twin City R T Co_ b_ _ _Apr 993,497
965,221
247,172
247,136
Jan 1 to Apr 30
1,901,955 1,821,162
890,962
908,772
Un Rys of St Louisa _ __May 920,765
947,338
329,222
325,289
Jan 1 to May 31
4,248,217 4,326,423 1,452,978 1,398,740
United RR of San Fran_Mch
564,673
543,556
181,259
203,140
Jan 1 to Mch 31
1,559,687 1,589,053
440,316
43,694'
Whatcom Co Ry & Lt_b_Apr
29,494
. 27,737
14,067
11,896
Jan 1 to Apr 30
118,161
109,063
49,899
45,441
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
Interest Charges and Surplus.
-Int., Rentals, dec.Current
Previous
Year.
Year.
Roads.
Aurora Elgin &Chicago_May
July 1 to May 31
Apr
Binghamton Ry
Apr
Birrn Ry Lt & P Co
Jan 1 to Apr 30
Brockton & Plymouth_Apr
Jan 1 to Apr 30
Cape I3reton Elect Co_ _ _Apr
Jan 1 to Apr 30
28,423
306,145
8,359
45,215
175,383
2,350
7,979
4,772
18,117
26,414
291,450
8,127
2,250
7,597
4,587
17,337
-Bat, of Net E'ngs.Current
Previous
Year.
Year.
27,856
265,091
def474
22,120
65,795
def1,355
def8,263
2,511
8,490
28,129
251,801
defl,264
de1394
def4,364
deegf
,139
41
1585
-Int., Rentals, ezc.- -Bal. of Net E'ngs.Current
Previous
Current • Previous
Year.
Year.
Year.
Year.
Roads.
•
$
$
Charleston Con Ry & EL May
13,817
13,517
9,365
10,24
Mch 1 to May 31
41,450
40,550
24,015
22,450
Cleveland PRinesv & East May
7,267
7,213
3.487
5,029
Jan 1 to May 31
36,159
36,064
5,179
6,232
Calumb is Electric Co_ _ _Mch
11,971
10,830
2,112
1,448
Jan 1 to Mch 31
35,564
32,715
8,464
5,007
Dallas Elect Co
20,963
Apr
25,271
808
def1,730
[100,544
Jan 1 to Apr 30
85,758
def7,118 def11,657
135,661
Detroit United
May
128,909
x102,571
x95,990
Jan 1 to May 31
675,794
637,097
x271,669
x304,939
Duluth St Ry Co
18,417
Apr
17,695
7,850
16,123
73,666
Jan 1 to Apr 30
70,366
16,625
42,301
El Paso Elect Co_ _ _..._ _Apr
7,012
5,549
2,093
1,848
Jan 1 to Apr 30
24,521
19,246
20,843
11,653
Galvest-Houst El Co_ _ _ _Apr
20,584
18,998
14,290
11,610
Jan 1 to Apr 30
69,973
63,187
41,403
45,332
Honolulu R T do L Co_ Apr
6,099
6,393
x5.139
x7,487
Jas 1 to Apr 30
25,576
24,502
x27,933
x28,885
Hourhton Co St Ry Co_ _Apr
4,696
4,736
4,079
3,27
Ja 1 1 to Apr 30
16,502
16,589
7,540
841
Jacksonville Elect Co ..._Apr
10,066
5,359
4.246
6,877
Ja 1 1 to Apr 30
15,784
27,703
16,468
29,827
Kan C ty Ry & Lt Co_ _ _Apr
149,826
151,016
73,799
77,120
June 1 to Apr 30
1,683,912 1,613,890 1,010,149
'980,7
Knoxville Ry & Lt Co___Apr
10,571
11,394
11,958
111,890
4 Jan 1 to Apr 30
40,991
45,862
32,161
37,728
L,Ike Shore Elec Ry Co_ _Mch
25,728
def3,009
24,651
980
Jan 1 to Mch 31
76.852
71,223 def12,373
def3,247
Little Rock Ry & El Co_Apr
9,566
8,686
18,386
14 4
Jan 1 to Apr 30
37,066
33,647
72,956
5
5
Memphis Street Ry Co_ _Apr
34,807
33,108
15,014 .
4
Jan 1 to Apr 30
138,593
131,120 id: 34,027
3
0
Montreal Street Ry
May
61,801
49,632
82,154
75,824
Oct 1 to May 31
385,788
333,828
470,140
425,239
Milw El Ry & I.t Co__ _ _May
119,510
120,528
x41,150
x42,185
Jan 1 to May 31
502,995
496.269 z215,225
x252,960
Mllw Lt Ht & Tr Co
May
59,848
53,656
x22,725
xdef387
Jan 1 to May 31
286,702
153,226
x74,298 xdef14,868
Northern Texas Elect Co Apr
15,050
12,813
18,835
18,758
Jan 1 to Apr 30
150 326
43,563
7'1.236
77,803
Northern Ohlo Tr dc Lt..May
44,154
42,754
;9;377
21,333
217,043
Jan 1 to May 31
207,185
1.,494
45,234
Pensacola Electric Co_:_Mch
3,617
3,125
1,721
3,171
Jan 1 to Mch 31
10.822
9,389
816
8,129
Puget Sound Elec Ry ._ _Feb
34,936
29,552 def3,436
1,100
Jan 1 to Feb 29
71.091
57,392
def6,848
def1,744
Savannah Electric Co_ _Apr
14,568
13,828
2,309
4,333
Jan 1 to Apr 30
52,197
48,625 def15,116
16,158
Seattle Electric Co
Apr
84,725
69,282
58.879
56,844
Jan 1 to Apr 30
274,573
220,456
198,086
225,416
Syracuse Rap Tran Co_ .May
28,719
25,201
x17,492
x17,262
Jan 1 to May 31
143,491
125,577
x63,314
z87,539
Tampa Elect Co
Apr
2,335
2,050
11,206
9,164
Jan 1 to Apr 30
5,392
5,232
52,019
42,408
Toledo Rys & Light Co_ _May
71,719
65,544
x17,891
x8,811
Jan 1 to May 31
348,373
320,755 x108,078
x103,508
Twin City R T Co
Apr
126,075
115,258
121,097
131,874
Jan 1 to Apr 30
494,205
461,033
396,757
447,743
Un Rys of St Louis
May 232,278
230,831
96,944
94,458
Jan 1 to May 31
1,164,716 1,155,458
288.262
243,282
United RR of San Fran_Mch
220,618
207,576 def39,364
def4,436
Jan 1 to Mch 31
681,895
608,283 def241,579
35,411
Whatcom Co Ry & Lt_ _ _Apr
7,959
7,284
6,108
4,612
Jan 1 to Apr 30
27,896
25,994
22,003
19,447
--x After allowing for other income received.
•
an!
ANNUAL REPORTS.
Annual Reports.-The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since May 30.
This index, which is given monthly, does not include
reports in to-day's "Chronicle."
RailrcalsPage.
1463
Des Moines & Fort Dodge
Missouri Pacific
1339
Wabash-Pittsburgh Terminal _ _ _1526
Western New York & Penn_ _1525
Electric RaficaysCleveland Painesville & Eastern.1525
Georgia Railway & Electric_
1339
Norfolk & Portsmouth Traction_1339
Third Avenue RR., New York_ _1531
IndustrialsAmalgamated Copper
1526
American Pneumatic Service__ _1464
Anaconda Copper Mining'
1406
Brooklyn Union Gas
1527
Butte Coalition Mining
1407
Central N. Y. Teleph. & Teieg_ 1470
Chicago Railway Equipment Co.i342
(BalSheet Dec. 31)
ColtiAbus & Hocking Coal & I_ _1527
CokihoIrdatIon Coal Co. (Md.)_ _ _1341
Electrical Devel. Co. (Ontario) _1408
Page.
Fairmont Coal
1342
General Asphalt
1463
Internat. Harvester Co__ _1463, 14,1
International Nickel Co
1340
Lanston Monotype Machine Co 157
Michigan Lake Superior Power.._1526
Montreal Light, Heat & Power_ _144,0
Ohio Fuel Supply
1470
Pacific Mall Steamship
1408
Somerset Coal
1341
Standard Chain
..
1341
Standard 011 Cloth (13aL Sheet
March 31)
1342
Standard Screw
1466
UnIteci Bank Note Co
1465
United Copper
1407
U,. S. Realty & Improv't Co_ _ _ _1465
U. S. Smelting, Refin. do Min_ _ _1340
Vulcan Detinning
1527
Western Union Telegraph
1474
American Car & Foundry Co.
. (Report fer Fiscal Year ending April 30 1908.)
President Frederick H. Eaton, lune 25 1908, writes:
General Results.-Notwithstanding a very considerable falling off in the
railroads'demand for new equipment,the gross sales for the year aggregated
$104,319,560; freight paid to railroads on material received and
shipped,
$6,625,000; average number of men employed, 23,521; wages paid, $15,915,828. The number of stockholders is 10,794. [As to statistics of output, see tables below.-Ed.1
Additions and Improventents-Reserve.-During the year there has been
constructed and equipped one new shop at Milton for building all-steel
tank cars. Practically all other expenditures charged during the year to
plant account have been for improvements at the different steel car shops.
There has been made a reservation of $1,500,000 to cover (as circumstances may make advisable) the construction of new, or additions to
existing, steel-car plants. There has been set aside also $1,650,000 for
general overhauling, improvements, maintenance, &c., including tne
Installing of labor-saving devices and such new machinery as may be
necessary to enable us to maintain our leadership in the car-building
Industry.
The making of these reservations does not necessarily mean that the total
amount will be used during the current year, but it seems wise to have
money available so that the company may be in position to take advantage
nf favorable conditions as they offer and hence prosecute the work with
least expense.
1586
THE CHRONICLE
Insurance.-It is thought advisable for the company itself to carry at
least a part of the lire risk, and to effect this there has been created an insurance resrve watch at the close of the fiscal year amounted to $1,000,000. In the construction of new shops and the repair of other shops,
fire-proof materials have been used to the largest extent possible, and, in
line with tills, many of them have been equipped with sprinkler systems
and other safeguards.
Working Capital.-Condltions recently obtaining in the in lustrlal world
have served to emphasize the soundness of the policy to wh,ch your company has committed itself-in the accumulation of a large working capital.
The extent, however, to which our present working capital should be Increased it is difficult now to state-this because of the continu tIly increasing
demand for steel construction in both freight and passeng,r cars, requiring
the carrying of largely Increased Inventories.
During the heavy months of the past year the inventories aggregated
521,000,000 and, with the accounts receivable, necessitated the borrowing
of a larger amount of money than Is altogether desirable.
The total surplus April 30 1908 is $22,367,247, representing the aggregate
surplus earnings since organization. From this surplus th_re nas been
expended and reserved for new plants and additions (chdrgeci to and
Included In plant account) an aggregate of $10,815,537. the difference
between these amounts, $11,551,710, together with the $5,613,005 original
working capital, constitutes our present working capital of $17,184,715.
Patents.-Your company owns over 309 live patents anl has pending
applications for many more. These patents afford us protection in every
detail of car construction.
Orders.-The number of car orders on hand at the close of your fiscal
year was the smallest in the history of your organization.. While your
company, In common with all other Industrial organizations, has suffered
from the adverse business conditions, nevertheless the faci1iti.28 we possess
for the large production of a varied line of materials and suaplies of miscellaneous character for both domestic and foreign trade hay served to
keep a number of shops at the different plants in a condition of productive
activity.
1907-08.
1905-06.
1906-07.
1004-05.
Earns, from all sources.$10,624,574 $11,115,088 $5,648,553 $3,754,274
Renewals, repairs, &c_._ 1,663,194
1,768,004
1,400,103
818,789
$8.981,380
Net earnings
New constr'n charged off $520,765
225,998
Approp'n for ins. res've_
$9,347,084
$557,548
650,000
$4,158,450
$350,790
$2.935,485
$307,367
$8,214,618
Net income
•DIvidends on preferred $2,100,000
xDIvidends on common_ 1,050,000
Res've for gen.overhauling,imp'ts and maint. 1,650,000
600,000
Res've fund com.dig_ _ _
$8,139,536
$2,100,000
800,000
$3,807,660
$2,450,009
$2,628,118
$2,100,000
$2,814,618
10,552,630
$5,439,536
14,113,094
Balance,surplus
Previous surplus
Total surplus
Is expected to take her place in the Red Star Line service not later than
November next. On account of the further development of the traffic
between New York and Antwerp. the Gothic, built for the White Star
Line, and engaged in the Australasian trade, was transferred to the Red
Star Line, and, after being equipped for the carriage of third-class passengers, will be operated under toe Belgian flag as the Gothland. Your
directors are now taking steps to replace this steamer in the New Zealand
trade.
Referring to the three steamers for the Leyland Line mentioned In the
report for 1906, the Median was delivered in January, the Memphian In
Februazy and the Mercian in May last. It is expected that these steamers
will be a profitable addition to the Leyland Line fleet.
The number or steamers now In service, Including the subsidiary lines,
Is 125, representing a gross tonnage of 1,013,524 tons, to which will be
added, when the steamers arranged for and building are completed. 146,180
tons gross, making In all 132 steamers of your own and subsidiary companies, having a total tonnage of 1,159,704 tons, viz.:
Under 5,000 tons gross
27 Between 15,000 and 20,000 tons gr. 4
Between 5,000 and 10,000 tons gr.63 I Between 20,000 and 30,000 tons gr. 4
Between 10,000 and 15,000 tons gr.32 Over 40,000 tons gross
2
General Remarks.-The wisdom of the transfer of the White Star Mall
Service between New York and Liverpool to the Channel trade between
New York and Southampton has been proved by the appreciation of the
same shown by the traveling public.
The operating conditions of 1907 were unusually difficult, particularly with regard to labor troubles at various ports, which precipitated
five serious strikes, besides several minor ones. These were all not only
costly in themselves, but caused a material loss of revenue through the
diversion of freight traffic from your lines.
Owing to the higher price of coal and all other consumable articles, the
expense of operating shows a great Increase in all directions during
1907, as compared with previous years, and through unfortunate conditions
It was impossible to make corresponding advances in the rates for passengers and freight.
The Trans-Atiantic passenger traffic, both east and west bound, shows
a material improvement as compared with previous years, of which your
company obtained its fair share; but the revenue derived therefrom, particularly during the last half of the year, was extremely unsatisfactory,
on account of the great disturbance in rates, due to conditions beyond
our control, but which had to be energetically met by us in order to maintain our position in the trade.
The results of operating the Cedric and Celtic in the Mediterranean passenger business during the season of 1906-07 were quite gratifying, but
the conditions during the past winter did not warrant the employment
of both steamers in this service.
The popular steamer Arable has completed her fourth 70-day cruise
to the Mediterranean with favorable results,and a contract has been signed
for a fifth cruise.
The Trans-Atlantic freight situation has been unsatisfactory and the
revenue from this source has been very disappointin,r.
The general trade between Great Britain, Australia and New Zealand
has been much better during 1907 than the previous year. and the earnings
of your steamers in that trade have therefore Improved.
E ARNINGS, EXPENSES, CHARGES, &C.
1906.
1007.
19115.
1904.
$
Gross voyage earnings__ 38,253,588 35,931,412 32,435,512 27,916,908
Miscel. earns.. div., &c_ 1,013,000
1,227,801
927,406
386,515
Sundry earnings
533.570
I
Total receipts
39,266,588 37,159,213 33,362,918 28,848,993
Gross oper. and gen.exp.a32,242,543 a29,155,178 a27,456,174 a27,040,586
$1,357,660
12,755,434
$528,118
12,227,316
$22,367,247 $19,552,630 $14,113,004 $12,755,434
'In 1907-08 and 1906-07, 7%;in 1905-06, 8 1-6% (includes 1 1-6% paid
July 1 1905 "to bring dividend periods and quarterly reports in conformity
with fiscal year"); In 1904-05, 7%. x In 1907-08, 3)%; in 1006-07, 2%,
BALANCE SHEET OF APRIL 30.
1907.
1908.
1908.
1907,
Liabilities-Assets8
Cost of propertlesx05,182,533x62,551,510 Preferred stock- - _30,000,000 30,000,000
Material on hand- - 5,674,460 19,002,795 Common stock-- _30,000,000 30,000,000
Accts receivable--17,797,171 18,464,543 Vouchers and loans
payable ..
Stocks and bonds
4,551,14612
1 .827,011
844, 38 Pay-rolis
of other cos- --- 731,668
706,852
Insur. reserve- - - 1,000,000
Cash on hand and
774,002
3,457,561 3,322,309 Reserve payment
in bank
Wilm'gt'n plant 500,000
500,000
For gen. overhauPg
impts. & maint. 1,650,000
For const. of; and
adds. to steel car
plants
1,500,000
Reserve for dive.
on corn. stock
600,000
Div. pay. July 2
675,000
825.000
Surplus account..22.367.247 19,552,630
-Total
92.843,393104.185,495
Total
92,843,393 104,185,495
x Includes cost of properties, plants, &c., to April 30 1907, 162,551,510 :additions to new steel car plant at St. Louis, tank car plant at Milton, and other
plants during year ending Apr. 30 1908; $1,131,023; reservation for construction
of additions to steel car plants. $1.500,0090-V. 86, p. 1411, 604.
International Mercantile Marine Co.
(Report for Fiscal Year ending Dec. 31 1907.)
The report, signed by President J. Bruce Ismay and
Chairman C. A. Griscom, under date of June 15 1908, says
in substance:
General Results.-The combined Income account of the companies for
the year 1907 shows a surplus for the year of $4,033,731, after meeting
all fixed charges and operating expenses (including all charges for repairs,
maintenance and overhauls) as compared with a surplus of $5,028,754 for
1906.
The income account does not include the operations of the Leyland
and National Lines, in which your company has important holdings.
These lines have made separate reports to their stockholders, showing
profits for the year In working the companies of 1116,520 for the Leyland
Line and 110,460 for the National Line.
Ba!ance Sheet.-During the year all payments on account of new steamships building were made from current funds. •"Capital assets" have,
therefore, been increased without any addition to the company's debt.
The sinking fund retired during 1907 $374,000 first mortgage 5% bonds,
out of the earnings of the American and Red Star Lines for the year 1906.
and there will be deposited with the trustee for the further redemption of
bonds $250,000 out of the earnings of 1907.
The debenture bonds of constituent companies held by the public
have been reduced from $778,580 to $696,129.
Four million dollars has been transferred from the profit and loss account
to the credit of depreciation fund, maqing the total credit in insurance
and depreciation funds Dec. 31 1907 over $11,000,000.
Company's Fleet.-All the company's steamships, as well as its other
property, have been maintained in a high state of efficiency, and the cost
thereof, together with depreciation on all property other than steamships,
charged to operating expenses.
The building scheme outlined In the report for 1906 is being actively
carried out,and it is expected that the first new steamer for the St. Lawrence trade will be delivered early In 1909 and the second In June of the
same year. The new Minnewaska for the Atlantic Transport New YorkLondon service will, It is hoped, be In commission in time for the 1909
passenger season.
As the difficulties in reference to terminal facilities at Antwerp have
been satisfactorily disposed of, your directors decided to allocate to the
New York-Antwerp trade one of the steamers building at Belfast. This
ery fine vessel will be named Lapland when launched June 27 and she
[VOL. Lxxxvi.
Net earnings
DeductInterest on bonds
Int. on loans, &c
English income tax_
_
7,024,045
8,004,035
5,906,744
1,806,407
3,398,713
36,339
53,945
3,420,099
315,596
60,141
3,349,495
482.167
48,393
3,312,151
469,283
84,123
3.795,836
3.488,097
3,880,055
3,845,557
sur3,535,048 sur4,208,199 sur2,026,689 def2,039,150
Balance
441,661
791,950
Add surp. Ins. account_
864,159
897,053
57,021
28,597
Prop. purch. bds. for s.f.
Balance for the year_ _sur4,033.731 sur5,028.754 sur2.890.848 loss1,142,097
5,000,000
Depreciation on st'shIps. 4,000,000
2,000,000
Note.-The earnings for 1005 were charged by the company with the
payment of $236,643 on account of trade agreement for 1904. Transferring
this item from 1905 to 1904, the surplus for 1905 becomes $3,127,491 and
the deficit for 1904 becomes $1,378,740.
a Includes $1.208,681 for "overhauls, lay-up expenses and betterments"
In 1907, agst. $1,043,012 in 1908, $1,040,845 in 1905 and $1,489,322 In
1904.
CONSOLIDATED BALANCE SHEET DEC. 31-COMPRISING AMERICAN,
RED STAR, WHITE STAR, DOMLVION AND ATLANTIC
TRANSPORT LINES.
1006.
1907.
1907.
1906.
Liabilities-Assetscost of prop....173,011,332 171,997,011 Preferred stock_ 51,730,971 51.7304971
Common stock_ 49,931,735 49,9320.6
investments5% 1st M. bonds 19,244,000 19,618000
F. Leyland &
Co.(1900),Ltd. 11,965,177 11,965,177 43-% M. & coll.
410,469
trust bonds - - 52,744,000 52,744,000
420,283
Nat.SS.Co.,Ltd
Deb. bonds conSundry ship &
stit. co.'s held
allied co.'s,
by public....
696.130
exch.mem'ps
778,579
626,598
690,733 Loans on mtges_
707,671
& Gov.dem.
724,238
Loans, bills payCash denos. with
25,461
235,602 able, &c.- 539,256
trustees of mtg
768,699
892,196
789,052 Accts. payable _ 3,449,581
Inventories - 3,302,971
1,763,837 Agency balances
211,315
Accts. receivable 2,556,153
148,131
429,000 Interest accrued 1,006,072
Bills rec. & loans 1,208,537
1,018,811
12,006
8,455 Leyland line adInt.rec.&accrued
vances,
Advances to
55,905
National line ad425,505
Leyland Line_
vances. &c.-Advances to Na54,038
184,981 Reservestional Line.-185,887
For nab. for re155,525
Agency balances
habli.&ron'rs,
Market, stocks
598,609
for ins. claims
599,811
and bonds..- & for outst'g
Cash In banks &
Dom.Line shs
806,903
557,623
on hand _395,053
548.364
Def. credited to
Open
voyage
Profit & loss.- 2,095,454
accts., chgs.&
2,222,397
1,414,077 Insurance fund_ 1.000.000
unexp. Insur. 1,424,243
1.000,000
Deorec'n fund-- 10,352,291
better7,173,389
327,081 Miscellaneous -.
318,109
ments, &c.1,698
1,698
Surplus
Disc't on 4%
312,637
278,906
290,020
272,440
bonds
Total
199,471,900 192,047,704
-V.86, p. 1045.
Total
194,471,900 192,047,794
United States Oast Don Pipe & Foundry Co.
(Report for Fiscal Year ending May 311908.)
President George B. Hayes, New York, June 24, says:
General Results.-The report is, sunerficiallY considered, not very encouraginf, but the directors do not feel at all discouraged about either
the condition or the business of the company. Oct. 1907 was a most prosperous month; during Nov. 1907 business absolutely stormed. The winter
months in the cast iron nine business are always dull months. Adding to
this the depression caused by the panic, the result was a stagnation such as
has never been known in the history of the cast iron pine business in this
country. Not only was there a cessation of business and a sharp fall In
prices in November, but there was a declining market all through the
winter and early spring months.
With the opening of goring. business has improved. The inventories
nresented to-day are made at the market. The company has no outstanding bills pai-able, and no debts of any kind, except for the current raw
material. Not only this, but the company went through the panic without
JUNE 27 1908.1
THE CHRONICLE
1581
borrowing a dollar or discounting or selling its bills receivable. On. the ng to consider, and, if approved, to authorize an Increase In the capital
other hand, it paid in case for all of its supplies and raw material. The stock of the company, and the creation of consolidated mortgage bonds,
so that the directors whom you may elect for the coming year may be in a
company has plenty of money and Its plants are In first-class condition.
Dividend Question.-So far as dividend possibilities are concerned, as position to deal with the matter when the proper time comes.
Litigation.-The appeal of the Dominion Coal Co. to the Privy Council
you know, since the organization of the company there has been created
an .account known as "reserve for additional working capital." To this against the judgment rendered in our favor by the Supreme Court of
account, in addition to the large sums spent out of the net earnings for Nova Scotia, of which you were advised by circular on Jan. 27, cannot be
extensions and new construction, amounting to $1,802,450, there has also heard until after the summer vacation, owing to the time consumed In combeen credited out of net earnings the sum of $2,459,897. This account is pleting the record. The claim against the Coal Company up to May 31
distinct from and a surplus over the original working capital. There is no 1908, exclusive of interest and costs, was $2,923,808.
Efforts have recently been made by friendly intermediaries to bring about
financial reason why a portion of this reserve or surplus should not be used
for the payment of dividends until the present period of depression shall a settlement of the dispute, but without result. No definite offer has ever
have vanished. This, of course, Is contingent upon this period of depression been received by the Steel Company, and the most favorable arrangement
not lasting too long. Owing, however, to the phraseology of the charter, which has been put forward as likely to be acceptable to the Coal Company
there seems to be some legal doubt as to whether or not any part of this -in other words, the best settlement which It appears open to us to makesurplus may be used for dividend purposes. Your directors are of the is not one which your directors could recommend for your acceptance.
opinion, therefore, that it would be best to have the question determined (V. 86, p. 723; V. 85, p. 724.)
by judicial decision, and a suit to this end will probably be instituted at
INCOME ACCOUNT.
once. If a favorable decree is entered, the preferred stockholders may
Year ending Year ending Year ending 5 Mos. end.
expect to receive the usual quarterly dividend on the preferr.d stock.
May31 '08. May 31 '07. May 31 '06. May 31 '05.
RESULTS FOR FISCAL YEAR.
1907-08.
Profit on sales
1906-07.
1905-06.
2,247,536 1 1,396570
1 2,613,825
366,063
$637,618 $1,978,490 $1,938,601 Rents, &c
Manufacturing income
9,736
1
4,79&
136,656
133,061
114,607
Other Income
Total net Income_ __ .. 2,613,825
2,247,536
1,406,306
370,859
Deduct$774,274 $2,112,151 $2,053,208
Total Income
Int. on 1st mtge. bonds.,
/uct380,287
390,821
385,388
164,084
$90,000
$90,000
$90,000 Int. on 2d mtge. bonus_
IntLrost on bonds
109,635
120,293
122,572
00,779
197,000
195,000 Int. on current loans_ __
Reserve for improvements
181,139
206,891
178,704
81,048
12.000
12.000
12.000 Sink.fd. 1st mtge. bonds
Reserve for doubtful accounts
69,712
59,179
64,612
23,416
875,000
875,000
875,000 Contingent acct.-res've
Dividend on preferred stock (7%)__
(2%)250,000(4%)500,000(4%)500,000
for claim against DoDividend on common stock
minion Coal Co
1,376,831
810,714
31,227,000 $1,674,000 $1,672,000
Total deductions
-Surplus for year
def.$452,726
$438,051
$381,208
Total deductions ____ 2,143,356
753,71 1
1,559,711
299,317
--Balance, surplus
470,469
687,825
652,595
71,532
Note.-The total accumulated surplus May 31 1907 was 3631,801; Profit and loss beginning
deducting deficit from operations of year 1907-08,$452,726,1caves $179,075,
period
sur.318,711 clef.369.114 df.1,021,709df.1,093,241
'
from which there was appropriated $163,051 In lieu of depreciation, the
total profit and loss surplus May 31 1908 being $16,024. In 1906.07 Profit and loss end of
$197,000 was reserved from the year's profits for improvements, $150,000
period
sur.789,178 sur.318,711 def.369,114 df.1.021,709
being also reserved from-accumulated surplus for the same purpose,beside3
BALANCE SHEET MAY 31.
$162,458 for additional working capital.
1907.
1908.
1908.
1907.
BALANCE SHEET MAY 31.
LiabilitiesAssets1908.
1907.
1908.
Prop. & construe_30,009,621 35,810,664 Common stock_ - -20,000,000 20,000,000
1907.
AssetsCash.acets.rec.,&e. 1,711,600 1,318,358 Preferred stock_ - - 5,000,000 5,000,000
Plant investment_24,095,935 24,078,735 Pref. stk. outstand12,500,000 12.500,000 Raw materials- -- 676.072
337,437 First mtge. bonds_ 7,583,000 7,674.000
Treasury stock-- 347,555
545,692 Second mtge. bds_ 1,750,000 1,968,000
347,555 Com.stk.outstand.12,500,000 12,500,000 Manufactured prod 916,606
Sinking fund_
Am. Pipe & FounWarehouse mater_ 452,901
257,313 C. B.real est. bds_
35.833
45.834
Bonds Amer. Pipe} 589,104
588,814
Int. accrued on let
dry Co. bonds-- 1,500.000 1,500,000 Materials in pro& Foundry Co-mortgage bonds. 157,979
Bills & accts. pay_ 903,199 1,505,811
cess, &c
157,376
528.118
159,875
Cash
739,290
Int. accrued on 2d
Insur.. &e., paid
575,455 Reserve for workRaw and manufacing
in advance_ 11,616
11,247
mortgage bonds.
17,500
-2,459,897 2,459,897
19,680
tured material- 2,147,074 2,066,320 Improvements _ _ ---_
Bills payable_
23,507 Special deposits at
3,606,207 3,010.487
Accounts receivReserve for doubtMontreal
6.574
42.965 Accounts payable_ 389,091
417,699
able, &c
ful accounts- --20,879
Sinking fund first
2,081,042 3,583,965
19,827 Dominion Coal Co.
Insurance reserve_
100,000
100,000
excess cost of
mortgage bonds.
64,945
60,775
Surplus
16,025
coal
2.312,555
810,714 Re-lining and re631,801
placement funds 532,331
174,860
Total
Total ---------30,000,000 31,240,844
Suspense account_
30,000,000 31,240,844
16.302
1,872
-V. 86, p. 173.
Conting. acet.,res.
for claims agst.
Dom. Coal Co.,
Montreal Steel Works.
per contra_---- 2,312,555
810,714
Profit and loss- - - - 789,178
(Report for Year ending Dec. 311907.)
318.711
The directors, in the fifth annual report issued some time
since, submit the following statement:
The net earnings for the year 1907, exclusive of dividends, directors' and
auditors' fees, and after providing for depreciation, are $187,640. The
plant and buildings have been kept in first-class order, and the cost included
in working expenses. The sum of $50,000 has been carried to the credit
of reserve account, to provide for any further depreciation and extinguishment of buildings and plant, and for such other purposes as the directors
may determine, making that account $150,000 Dec. 31 1907. The sum of
$10,000 has been placed to the credit of a special reserve account, to
provide for contingencies.
Quarterly dividends on the preferred stock at the rate of 7% per annum,
and dividends on the common stock at the rate of 7% per annum,amounting
in all to $105,000, have been paid.
The new power plant was completed and put into operation last spring,
and found to give most satisfactory results. During the past year a steel
building was erected, to be used as a spring coiling shop, and a new and
up-to-date spring-coiling plant, built upon the latest labor saving methods,
was purchased and put Into operation. During October last depression
overtook the steel trade of the United States, and the various steel plants In
that country are now showing an output of only about 35% of their normal
capacity. These conditions still exist and are naturally reflected in Canada
to some extent; In consequence we may look for curtailment of business
at least during the early part of the coming year.
Pref.
Corn.
Cont.
Bal.,
Reserve.
Net.
Acct. Div.(7%)Div.(7%)
Year-Sur.
$187,640 $10,000 $16,000 $56,000 $49,000 $22,640
1907
36,000
196,998
46,286
1906
56,000
58,712
120,798
20,495
31,863
1905
56,000
12,440
• Paid March 21 1906 and charged against profit and loss In 1906.
BALANCE SHEET OF DECEMBER 31•
1907.
1906. 1
1907.
1906.
$
AssetsI Liabilities-.
$
1.368.880 1,299.481 Preferred stock
800,000 800,000
Plant, &c
700,000 700,000
Stores & merchandise 289,886 254.233 Common stock __
2,030 Pref. div. Jan, 8
14,000
14,000
Bilis receivable_ --- 24,508
31,500
31,500
Sundry debtors.-- - - 302,293 296,2421 Common dividend 20,1451 Bills payable, &c.-- 164,841 100,957
33,582
Cash
1,7441 profit and loss, surp. 308,808 227,418
Miscellaneous
1
Total
2,019,149 1.873.8751 Total
2,019,149 1,873,875
-V.84, p. 752.
Dominion Iron & Steel Co.
(Report for Fiscal Year ending May 31 1908.)
The report says in substance:
General Results.-The earnings have again to be considered In the light
of the judgment against the Dominion Coal Co., which entitles us to recover
from them the cost of coal in exces of the contract price of $1 28 per ton.
As in the previous year, all coal used has been charged against the operations of the contract price, and on this basis the earnings for the year were
$2,613,825. The interest charges for the year amounted to $696,814, and
the net earnings were $1,917,011.
From this amount we have transferred to contingent account $1,376,831,
to offset the sum which we have charged to Dominion Coal Co. for money
paid during the year in excess of the contract price for coal. The remainder
has provided for the sinking fund on the first mortgage bonds, $69,712, and
the maturing installment ot the second mortgage bonds, $250,000, leaving
a balance of $220,477. The gross earnings during the past four years
increased from $500,000 to $2,613,815.
The various departments of the company's works have been carried on
steadily throughout the year, with increared production and lessening
costs. The output of steel for the year reached 290,953 gross tons. In
1907 the output was 238,000 gross tons.
The floating liabilities are larger than usual, but the increase In the
amount as compared with last year is more than covered by the further
Increase In the value of raw and finished materials on hand. A considerable
portion of the finished materials are merely awaiting shipment.
New Stock and Bonds Proposed.-In view of the larger working capital
we are henceforth likely to require, Tv.- di •ectors think It well that a scheme
for the reorganization of the company's finances should now be under consideration. As a preliminary step you will be asked at the annual meet-
Total
42,254,925 39,662,508
-V. 86, p. 796, 172.
Total
42,254,925 39,662.508
Nova Scotia Steel & Coal Co., Ltd., New Glasgow, Nova
Scotia.
(Report for Fiscal Year ending Dec. 31 1907.)
President R. E. Harris at the annual meeting on March 25
said in substance:
General Results.-The mines and plant of the company were kept busy
throughout the year, except the works at Trenton, which were closed
during a part of December.
The output of iron and steel was the largest In the history of the company,
and exceeded that of the previous year by about 25%.
The profits were $944,791, as compared with $960,281 for 1906. Under
all the circumstances, this result can not be regarded otherwise than as
highly satisfactory.
On the ground that working double-shifts increased the cost of mining,
the board decided to single-shift No. 3 colliery, and to cut off certain
unprofitable contracts, feeling that if the same, or a larger profit, could
be obtained by mining a smaller quantity, it was better to reduce the output and leave the balance of the coal In the ground. The decrease In quantity of coal mined was therefore In pursuance of a deliberate policy.
Improrements.-DurIng the year work was carried on In opening up
No. 4 colliery; it was also decided to re-open No. 2 colliery, and the work
of pumping has since been carried on. We hope to have both of these
collieries producing about May 1 1908. 'With five collieries in operation,
we expect that our output during 1908 will be larger than that of any
previous year. Practically the whole of the estimated output of our mines
has been disposed of.
The work of driving slopes to our submarine Iron ore areas at Wabana,
Newfoundland, was carried on throughout the year most successfully;
these slopes are working In ore at a distance of over 2,200 feet from the
shore. A new air-compressor plant has been installed and we expect
almost immediately to have three shifts at work, each of eight hours.
and the work on these slopes will be carried on 24 hours every day, Sundays
excepted. It now looks as If we should be able to mine ore from these
submarine areas early in 1909. I have frequently expressed my opinion
as to the enormous value of these areas and the work done during the past
year goes far to confirm this opinion.
Newspaper Reports Denied.-My attention has been called to an article
In a Montreal newspaper stating that the directors of the Dominion Iron
& Steel Co. had made an offer to buy out this company, but that these
negotiations fell through. It Is sufficient for me to say that no offer w s
made; no negotiations ever took place, and the whole story Is absolutely
without foundation.
Another false report has been In circulation to the effect that the company will shortly require to do some financing. I wish to say that the
present financial arrangements of the company are ample for its requirements, and satisfactory to our bankers.
The sum of $378,386 was expended during the year on capital account
In equipping the new colliery at Sydney mines, new forge buildings at New
Glasgow, the purchase of Iron ore properties, the development of the submarine iron ore areas at Wabana. and for plant, Improvements, &c.
General Manager Thomas Cantley on Jan. 31 1908 reported:
Business.-The year opened with unfilled orders for steel bars and plate
on our books for 12,064 tons, in addition to 33,579 axles. During the next
six months 18,065 tons of steel bars and plates were booked and 2,109
axles. There was great pressure for delivery of this material. During
September there was a noticeable reduction in orders, while during October.
November and December the new business booked was trifling. This
meant a considerable curtailment of roiling-mill output at the New Glasgow
mills during November, and especially during December. Before the
middle of the latter month, practically every order had been roiled, and
It was found necessary to close down the roiling-mill plant, which did not
resume operations until Monday the 20th of January.
Since the opening of 1908 the Intercolonial railway, Canadian Pacific
and Grand Trunk railways have passed out orders for cars, and of the
orders for steel required for these this company has secured the bulk of
that so far placed, and a considerable quantity of other railway material
Is expected to come out within a few weeks. As the money situation becomes 'easter, there Is no doubt purchasing.will be,resumedjonia large
1588
[VOL. Lxxxvi.
THE CHRONICLE
scale,as the country still requires an enormous amount of iron and steel
material to complete railway extensions and other Improvements called
for by the rapidly Increasing population and trade of the country.
PRODUCTION IN TONS (EXCEPT CAR AXLES.)
1007.
1906.
Inc.
Tons.
Tons.
Tons.
Coke made
90,749
81,269
9,480
Limestone and dolomite quarried
74,557
57,000
17,557
57,618
Pig Iron made
40,355
8,263
Steel ingots made at open-hearth furnaces Sydney
Mines
70,222
51,698
18,524
Steel billets rolled at New Glasgow
54,661
52,500
2,161
Bars and plate rolled
43,592
39,300
4,202
Steel-car-axles made and shipped (No.)
34,573
17,153
17,420
Shipments of finished steel and forgIngs
42,632
40,154
2,478
Coal mined, used and shipped
692,970 723,705dec30,735
Ore shipped from Wabana
346,505 not stated
RESULTS FOR CALENDAR YEARS.
1007.
'
1906.
1005.
1004.
$
3
$
$
Profits for the year_ __ _
944,791
960,281
559,906
501,337
Balance brought forward 1,180,783
795,325
695,750
685,64
2,125,575
Total available _
Deduct248,886
nterest on bonds, &c__
18,000
Accrued interest on bonds
158,005
Depreciation and renew.
82,400
Div. on pref. stock (8%)
(6)299,256
Div. on corn. stock
115,524
Sink. fd. and miscel_ _
1,755,606
1,255,656
1,186,980
255,639
18,750
101,879
82,400
229,427
18,750
64,304
82,400
150,000
116,154
65,450
50,000
82,400
(3)144,690
64,140
922,971
1,202,604
574,822
1,180,784
460,331
795,325
491,200
695,753
Total
Surplus, carried forward
BALANCE SHEET DECEMBER 31.
1906.
1907.
1907.
1906.
$
$
Liabilities-.
$
Assets$
Property & mines_11,897.803 11,519,417 Preferred stock_ - - 1,030,000 1,030,000
864,195 Common stock _-- 4,987,600 4,987,600
1,194,542
Inventories
Bonds
3,660,000 3,752,000
Cash, ledger acGeneral reserve.-- . 750,000
counts and bills
750,000
718,537
854,149 Sinking fund...-. 341,665
receivable
248,358
Bills payable and
cash advances-- 616,510
324,480
Pay-rolls and accounts payable_
197,878
163,921
Coupons
75,000 . 75,000
Div. on preferred
(Jan.).- _
20,600
20,600
Div. on common- 74,814
Accr. Int., not due.
18,000
18,750
Int. cons. bds. red.
4,350
Res. for depr., &c.. 792,237
650,989
Fire insur. fund.-35,279
39,623
Profit and loss.... 1,202,604 1,180,784
Total
13,810,882 13.237,761
13,810.882 13.237.761
Total
As to omission of dividend on common stock in June
1908, see a subsequent page of this issue.-V. 86, p. 484.
Central Coal & Coke Co., Kansas City.
(Report for Year ending June 1 1908.)
The pamphlet report contains no text. The results for
two years compare as 'follows:
RESULTS OF OPERATIONS FOR YEAR ENDING JUNE 1.
-----1907-08
1006-07
Net.
Gross.
Gross.
Net. '
$673,448
$1,232,696
$992,623
$379,670
11.263
70,773
85,616
13,989
19,176 Loss 1,434
36,598
3,483
9,283 Loss 137
0,702 Loss 2,123
16,775
71,027
63,604
21,111
11,951
61,238
75,552
27,692
140,023 Loss 2,370
163,847
76,337
173,849
739,014
224,329
955,453
104,881
416,201
713,743
131,854
40,912
273,801
542,604
94,638
90,235
50,001
DepartmentWholesale coal
Retail coal
Wichita coal.
St. Joseph coal
Salt Lake City coal
Washer
Mining
Mining stores
Wholesale lumber
Carson mill
Keith mill
Miscellaneous
gg',881
$1,352,702
INCOME ACCO UNT.
1006-07.
1907-08.
1905-06.
Net earnings as above...51,352,702 $1,447,650 $1,304,418
Deductions$03,130
$88,933
Royalty credited coal Ids_
$94,069
267,140
200,603
Royalty credit. timber Ids
198,950
Depreciation mine prop..
40,000
Depreciation mill prop_ _ _
28,658
39,739
Depreciation washer prop
3,333
4,008
General expense
70,875
77,734
71,517
133,175
Interest on bonds
118,173
125,011
Interest and exchange_ _ ..
8,500
5,402
Total
Total
$526,609
Surplus earnings
$826,093
Divs. on pref. stock (5%) '93,750
Divs. on corn. stock (6%) '307,500
Balance over divs
'$424,843
$573,055
$874,595
'93,750
'307,500
'$473,345
51,447,650
1904-05.
$984,353
I
$, 1
Operations.-Net earnings (after writing off $218,186 for repairs and
betterments and $235,340 for new plant and machinery), $900,806. To
this amount we have to add $68,630 dividend on Dominion Cotton stock
and $51,705 dividend on Merchants' Cotton Co. stock, making the total
in all $1,021,146. From this amount there were paid Interest on bonds,
dividends on ,preferred and common stock and rental of Dominion and
Merchants Mills amounting in all to $076,653, leaving a surplus for the
year of $44,493. 'Ibis surplus will bring the credit at balance of profit and
loss to $568,338. 'toe sales for toe year amount to $8,045,497, a decrease
of $461,516 from the previous year.
Capital Stock.-Common stock (auth. $7,500,000), outstanding, $5,000,000; 7% non-cumulative preferred stock (auth. $2,500,000), outstanding, $1,858,000. Shares, $100. Transfer agent, the Royal Trust
Co., Montreal, Can. Dividends are payable quarterly on Jan. 15, Apr, 15,
July 15 and Oct. 15 at Royal Trust Co., Montreal, Can.; 13 paid to Apr. 15
1908. Divl Lends of 5% per annum are now paid on common stock, viz.,
.erly Jan. 2.
% qua.
Funded Debt.-Consists of $758,500 series "A", $1,000,000 series "B",
51,000,00) series "C" and $450,000 series "D"-total, $3,208,500. These
bonds are dated March 1 1905 and are due March 1 1925. Interest at 8%
per annum, payable March 1 and Sept. 1 at the office of the trustee, Royal
Trust Co., Montreal, Can. Bonds are for $250, $504 and $1,000 each.
Each series Is secured by deposit with the trustee of the capital stock
acquired in the company for which that series was issued, and will become
a mortgage bond upon the properties of that company as soon as the entire
capital stock of the same has been transferred to the Dominion Textile
Co. Series "A" is subject to call at option of company at any time at
110%; series "B" at par after 5 years; serles "C" and "D" at any time
at 105`r .
Und;lying Bonds.-Underlying series "A" are the following issues:
$1,125,660 first mtge. 45i% 20-year £100 sterling gold bonds of Dominion
Cotton Mills Co.. due Jan. 1 1916, interest Jan. 2 and July 2, and $2,229,000 2d mtge. 6% 20-year $500 and $1,000 gold bonds of same company due July 1 1922, Interest Jan. 2 and July 2. Underlying series "B"
$162,000 first mtge. 4% 10-year $1,000 bonds of Merchants' Cotton Co.
due June 1 1909, interest June 1 and Dec. 1. Underlying series "C"
$450,000 first mtge. 8% 20-year $1,000 bonds of Montmorency Cotton
Mills Co. due Jan. 2 1921, interest Jan. 2 and July 2.
Directors,-David Yulle L. J. Forget, C. B. Gordon. Robert Mackay,
H. Vincent Meredith, H. S. Holt, David Morrlce Sr., Samuel Carsley,
G. A. Grier, J. P. Black, John Battik, A. B. Mole, Officers.-David
Yulle. Pres.• L. J. Forget, First Vice-Pres.; C. B. Gordon, 2d VIce.Pres.
and Man. Dir.;
'
C. E. Hanna, Sec. and Treas., Montreal, Can. General
Office, Montreal, Can.
Fiscal
Total Sur.over.
Total
-In operation- Written off
New
Year.
Sales.
Spindles. Looms. Repatrs,ecc Plant. Earnings. Jet &Div
1907-08 -.58,045,497 377,888 7,965 $218,186
900,805 144,493
5,40
1906-07 ---- 8,507,013 368,905 8,048
205,826 --------- - 898,518 166,680
-V.84, p. 1430.
The Cleveland & Sandusky Brewing Company.
(Report for Year ending Dec. 28 1907.)
INCOME ACCOUNT.
1906.
1907.
1907.
1906.
$
$
Other DeductionsGross earnings.... _1,004.144 1,075,356 Bad debts
54,281
63.957
Other Income
131,441 134,157
41,961
44,462 Depreciation
Interest account.... 33,760
384,252 363,420
30.798 Bond Interest
60,000
60,000
Sinking funds
1,079.865 1,150,616 Dividends, pref__(6)148,387(6A)155,122
Dividends, corn__ (4)95,460 (4)95,460
DeductionsGeneral charges
175,123 147,669
Total deductions- -1,063,420 1,019,785
Int.on collat. loan14,475
16,445 130,830
Surplus
BALANCE SHEET DECEMBER 28 1907.
AssetsLiabilitiesplants, good-will, etc
$11,444,984 Stock (52,38(1,500 Is pref.)-- $4,888,500
Saloons and other properties.
682,534 First mortgage gold bonds-- 5,956,000
Sinking funds
685,000 Underlying mortgages
700,000
Merchandise stock
447,286 Collateral loan (balance).- - 175,257
Sundry assets
29,072 Casli account
20,633
Loans and accounts .receivBills and accounts payable
562,718
able
1,660,004 Deferred dim to stockh'rs61,395
Sinking fund reperves
665,000
Working capital
1,000,000
Profit and loss acct. (surplus)
899,378
Total
$126.100
156,701
$14,928,881
Totll
514,928.881
See item on a following page of this issue.-V.86, p. 670.
GENERAL INVESTMENT NEWS.
76,537
131,652
$569,286
$735,132
"93,750
"307,500
5491,089
$493,264
'93,750
'307,500
.$333,882
•592,014
• These items have been supplied; they do not appear In the reports.
, What other deductions or credits there were we do not know.-Ed.
ASSETS AND LIABILITIES JUNE 1.
1908.
1907.
1908.
1907.
Liabilities-Assets-.
$
Coal lands
4,309.918 4,341,795 ICommon stock.- 5,125,000 5,125,000
Timber
_ 2.098,659 2,111.530'Preferred stock_ -- 1,875.000 1,875,000
Coal shafts
& bids 1,841,083 1.451,788 Undivided profits_ 1,376,625 1,000,000
lands.._Sawmills & impts_
237,359
273,733d
1,805.000 2,080,000
Yards &equIpm't_
50,533
49,004 Audited bills.-8,408
32,795
Personal property_
58,983
56,205'Bond Int. not due_
31,187
36,50
Mo. & La. RR,Co.
'Sundry accounts
117,710
1l5$78
stock
150,000
150,000'Pay-roil balances_
26,472
10.08
Bonds, &c., in
I Freight charges unother cos
54,1021 adjusted
79,103
78,340
105,020
Accts. for collect'n 1,030,601 1,175,4471Sink. fund for ins_
72,912
71,298
Inventories
629.472
694,981'Sundry balances-67,440
41,330
Cash
payable_
106,716
160,6541 Bills
100,000
Sinking fund
91.667
91,6671
-1
Total
10.684,094 10.610,906ITotal
10,684,094 10,610,90(?
-V.86, p. 1532.
$
their capital stock (on the basis shown in V. 80, p. 2347),
offering in exchange for their entire share capital $1,440,400
preferred stock and $3,208,500 bonds. "Besides the
stocks and 'bonds which were given in exchange for the
capital stocks of these four companies, $500,000 of the
preferred stock has been taken at par by the syndicate, who
have also subscribed and paid in an additional $500,000,
for which they have taken common stock." The report says:
RAILROADS, INCLUDING ELECTRIC ROADS.
Central Park North & East River RR., New York.-Foreclosure Suit.-The company having defaulted in interest on
its $1,200,000 mortgage, the Farmers' Loan & Trust Co., as
trustee, brought suit on June 24 for foreclosure and appointment of receivers. See Metropolitan Street Ry., New York.
-V. 85, p. 1467.
Chesapeake & Ohio Ry.-Listed.-The New York Stock
Exchange has listed $2,000,000 additional first consolidated
mortgage 5% 50-year bonds due 1939, making the total
amount listed to date $27,858,000.
The $2,000,000 additional bonds listed have been Issued to retire the
series A bonds above referred to.
Issuance of $27,858,000 First Consolidated Mortgage 5% Bonds.
For redemption of bonds under mtge. of July 11878, series B_ _510,000,000
Redemption of equipment bonds or car trusts
345.000
Payment to Contracting & Building Co. under contract for the
purchase of the securities of Maysville 46 Big Sandy RR. Co.
and the Coy. 44 Cinc. Elevated RR. & Transf. & Bridge Co.._ 2,000,000
For sale at 90%, as per plan of reoncanizatIon
5,371,000
Reorg. purposes as per ctf. of committee to trustee Feb. 5 1889_
400,000
For redemption of outstanding car trusts
855,000
For redemption of purchase money 6% bonds of 1878
2,287,000
For construction and new equipment
4,600,000
For redemption of serles A 6% bonds of 1878
2,000,000
Earnings.-For 9 months ending March 31:
9 Mos.
Gross.
Taxes. Other Inc. Charges,
Net.
Bal., Sur.
Dominion Textile Co., Limited, Montreal.
1007-8_ 520,383,366 $6,876,170 $610,840 $694,281 $4,479,680 $2,479,931
1906-7 _ 18,765,620 6,648,049
(Report for Fiscal Year ending March 311908.)
From the surplus as above In 1907-08 there was deducted $1,740,765 for
car trust payments and additions and betterments, leaving $730,166.
This cotton-manufacturing company was organized under -V.
86, p. 1342. 1041.
the laws of the Dominion of Canada on Jan. 4 1905 and
The
subsequently took over the management of the Dominion bonds $2,000,000 series A and the $13,354 series B 6%
due July 1 will be redeemed on that day as follows:
Cotton Mills Co., the Merchants' Cotton Co., the MontSerb; A on preseitatioa to the trustee, the Central Trust Co. of New
morency Cotton Mills Co. and the Colonial Bleaching & York, I t oar wkii three months' Interest.
SPrI,s B at the °film of J. P. Morgan & Co., at par with two months'
Printing Co., by the purchase of a controlling interest in interest
compare V. 86. p. 1342. 1041.
JUNE 27 1908.1
THE CHRONICLE
1589
Fort Worth & Denver Terminal Ry.-Bonds.-The Texas
Chicago Burlington & Quincy RR.-Listed.-The New
York Stock Exchange has listed $16,000,000 general mort- Board of Railroad Commissioners on June 20 authorized the
gage 4% bonds.
company to issue $778,090 bonds. Compare V. 86, p. 1100,
52.
Earnings.-For 10 months ending April 30 1908.
$342,370
$66,437,lt5lSlnkingturid payments__
Gross earnings
12,283
45,913,413 I Other charges
Operating expenses
2,376,168 I Dividends 9 M03.(6%) _ 6,650,346
Taxes
18,147,594 I
Net earnings
$11,937,101
Total deductions
Deduct4,932,102 I
Interest on bonds
$6,210,493
Balance, surplus, for 10 months
The total accumulated surplus June 30 1907 was $47,023,299; adding
the $6,210,493 surplus as above from the operations of the ten months, and
deducting the 6% extra dividend paid Oct. 1907, $6,650,346, and $12,068,288 expended for additions and betterments for the ten months, leaves
balance at credit of Income account April 30 1908 of $34,515,158.-V. 86.
p. 1466, 1842.
Chicago Consolidated Traction Co.-Receivership.-Judge
Grosscup at Chicago on June 25 appointed David R. Forgan
and President John M. Roach receivers for the company
in the foreclosure suit recently brought by the Central Trust
Co., a mortgage trustee.-V.86, P. 1528, 1466.
Chicago Peoria & St. Louis Ry.-January Coupons from
Consols Payable June 30.-The interest coupons due Jan. 1
1908 on the consolidated mortgage 5% 30-year gold bonds
will be paid on and after June 30 at the office of Pent,
Palmer & Co., No. 52 William St.-V. 85, p. 1517.
Chicago & Western Indiana RR.-New President.-Acting
President William J. Henley has been elected President both
of this company and the Belt Ry.-V. 86, p. 1223.
Cincinnati Hamilton & Dayton Ry.-Extension to July 15.
-The committee representing the 4% refunding bonds
(James N. Wallace, Chairman), announces that over 80%
of the $11,558,000 outstanding bonds have been exchanged
for the 5M-year purchase money 4% gold notes maturing
July 1 1913. Bondholders who have not yet exchanged
their bonds may do so until July 15 next at the Central Trust
Co. of New York, in accordance with the agreement between
the committee and the railroad company dated April 2
1908. Compare V. 86, p. 856, ,720.
Columbus Newark & Zanesville Electric Ry.-Bonds Offered.-C.C. Murray "& Co. and Albert Kleybolte & Co., Cincinnati, Ohio,are offering at 94 and interest, yielding 5y%,
the $736,000 general mortgage 5% gold bonds dated May 1
1906, interest May 1 and Nov. 1; guaranteed by the Ohio
Electric Ry. Co. and the Indiana Columbus & Eastern Traction Co. Total authorized issue, $6,250,000; reserved to retire underlying bonds, $3,493,000; reserved for additions
and betterments under restrictions in mortgage, $2,021,000;
present issue, $736,000.-V. 83, p. 625.
Delaware & Hudson Co.-New Bonds.-The proceeds of
the $20,000,000 bonds which the company desires to issue
under its new mortgage, it is announced, would be used for
the purpose of refunding the obligations incurred for the
following expenditures:
New equipment since January 1906
$2,229,455
Double track, Schenectady to Delanson
1,357,993
Third and fourth tracks, Saratoga to Ballston
366,845
Second track, Waterford Junction to Watervliet
320,278
Terminals In Albany
556,167
'Land, right of way at Schenectady
109,597
Land, right of way at Binghamton
206,813
Traction
addition
to
50,000
Co.
In
shares
Shares of United
acquired prior to January 1907
4,665,296
Quebec Montreal & Southern Ry., extension and equip., 1906-07 4,769,778
Purchase of stock of Naplerville Junction RR. Co
675,017
856,000
Purchase of stock of Chateaugay & Lake Placid Ry. Co
175,000
Purchase of stock of Greenwich & Johnsonville Ry. Co
Purchase of stock and bonds of Troy & New England By. Co
230,868
Advances to Hudson Coal Co. to purchase additional coal lands
2,500,000
In Pennsylvania
1,021,136
Construction on leased lines
Total
$20,040,244
Merger.-The New York & Canada RR.(V. 86, p. 1223)
was merged with the D. & H. on May 23 last.-V.'86, p.
1409, 1223.
Detroit Flint & Saginaw Electric Ry.-Sold.----At the foreclosure sale on June 25 the property was bid in for $50.,000
by Isaac Applebaum of Detroit, who, it is said, holds or
represents $250,000 of the bonds.-V. 86, p. 1284,'856.
Detroit Toledo & Ironton Ry.-Sale of Notes Temporarily
Enjoined.-The Ramsey protective committee for the 43%
collateral trust 'notes of 1905, secured by Ann Arbor stock,
has obtained a temporary injunction from Justice Bischoff of
the Supreme Court in this city restraining the sale of collateral
to,the three promissory notes. dated Aug. 31 1906, Made by
Rudolph Kleybolte & Co. to the United States Mortgage &
Trust Co.
A block of $1,208,000 of the collateral trust notes, it is stated, is covered
by the. loan. ,The salewas advertised to take place on June 24 but has beep
adjourned to 'Monday next, pending argument on the motion to continue
the Injunction obtained on the,ground that the United States Mortgag0
& Trust CO. had agreed to deposit the notes with the Ramsey committee.
H. B. Hollins & Co., It is understood, have since taken over the loan. There
are $5,500,000 of the notes outstanding, of which, It Is reported, about$1
900,000 are deposited with the Ramsey committee and about $1,800,000
•
are controlled by the Hollins Int ests.-V. 86, p. 1529 1409.
Denver & Rio Grande RR.-Listed.-The New York Stock
Exchange has listed $3671000 additional first consolidated
mortgage 4% bonds, due 1936, Making the :total amount
listed to .date $33,817,000.
Purpose of Issue of $367,000 Additional Bonds.
Construction of Chrysolite extension, Leadville easterly 3.355 miles _$67,000
Additional equipment, trackage facilities, shops and warehouses,
improvements, &c
300,CO3
is: 1529, 1466.
Eastern New ,York (Electric).RR.-Receivership.-Justice
H. T. Kellogg .at Ballston, N.'Y., on June 23 appointed
General Manager Frederick H. Be' ach as receiver of the propert3r, a 9-mile trolley, formerly known as Ballston Terminal.
-V.80, p. 1'728." '
Galveston (Tex.) Terminal Ry.-Bonds.-The Texas Railroad Commission has sanctioned the issue of $25,000 stock
and $1,108,000 of the $5,000,000 first Mortgage bonds on
completed road, equipment and buildings.-V. 86, p. 1100,
981.
. Hamilton Waterloo & Guelph Ry.-Bonds.-Notice is
given that an application will be made to the Parliament of
Canada .during the present session thereof for an Act to
amend the Act incorporating the company by increasing
its bonding powers to a maximum of $37,500 per mile.
Havana Central RR.-Authorized-Sale of Notes.-The
shareholders on June 23 duly approved the proposition to
make an issue of $3,500,000 bonds secured by a mortgage
covering terminal and other properties; also an issue of .E600,000 3-year sterling notes secured by the new bonds and other
collateral. The notes, it is stated, have already been sold
abroad at 96.-V. 86, p. 1529.
Iowa Central Ry.-Listed.----The New York Stock Exchange has listed $750,000 additional refunding mortgage
4% 50-year bonds due 1951, making the total amount listed
to date $4,070,000.
Of the $5,487,000 bonds now outstanding ($2,341,000
having been issued for, additions, improvements and equipment), $1,417,000 remain in the treasury unsold. Compare V. 86, p. 229.
Earnings.-For 9 months ending March 31:
9 MonthsNet.
0th. Inc. Charges. Bal., sur.
Gross.
1907-08
$2,353,886 $734,881 $144,685 $564,218 $315,349
1906-07
2,394,295
750,728
The charges ($564,218) In 1907-08 include: Interest on funded debt,
$448.765; interest, discount and exchange, $64,450; trackage and other
rentals, $51,003.-V. 86, p. 1343, 1042.
Kansas City Railway & Light Co.-Sale of First Lien
Refunding Bonds.-Spencer Trask & Co. of New York have
purchased from the Kansas City Railway & Light Co. about
$800,000 of its first and refunding 5% bonds due 1913,
which will be offered to investors to net about 6%. Perry5
Coffin & Burr are associated in offering the bonds. A circular dated June 25 says:
The bonded debt of the company Is as follows:
"First lien refunding" 5% bonds outstanding..$9,220,000
In escrow to refund an equal amount of underlying bonds
10,780,000
Total authorized Issue of "first lien refunding" 5% bonds_ ..$20,000,000
In addition, the company has an authorized issue of $5,500,000 6% notes
due Sept. 1 1912, of which $4,125,000 are outstanding, Including $23,000
held in the treasury. The company also guarantees: Kansas City Elevated
By. 1st M. preferred 6% bonds, $600,000, and 2d M. general 4% bonds,
$2,000,000, and Kansas City & Westport 1st M. 5% bonds, $500,000.
Bonds Offered.-The National City Bank and N. W. Harris
& Co., both of New York, are offering at prices to yield 6%
$1,200,000 Metropolitan St. Ry. Co. conEol. mtge. 5% gold
bonds, dated May 21 1895 and due May 11910. In 1903 the
capital stock of the Metropolitan Street Ry. Co. was acquired
by the Kansas City Railway & Light Co., which has executed
a trust deed securing an authorized issue of $20,000,000 first
lien refunding gold bonds, due May 15 1913, of which $8,500,000 are specifically reserved to retire the consolidated
mortgage bonds of the Metropolitan Street Ry. Co.
Abstract of Letter from Chairman Samuel McRoberts, Chicago. June 16 '08.
The Metropolitan Street By. Co. was organized in 1886 and has paid dividends on its capital stock every year since 1889. The company operates
all the street railway lines of Kansas City, Mo., Kansas City, Kan., and
sevcral other near-by cities, and is controlled by the Kansas City Railway &
Light Co., which also controls all the electric-light and power business of
the same territory, and serves a total population estimated at 400,000.
The mortgage szcurIng the Metropolitan consolidated bonds covers, In
addition to other valuable property, the most Important parts of the street
railway system, Including the greater part of the lines In the business
district of Kansas City, Mo. and the suburban lines extending to Independence, Rosedale and Argentine. The $1,200,000 bonds just purchased
by you will be issued to retire the first mortgage bonds of the Grand Avenue
Ry. Co., which mature July 10 1908. Upon the payment of the Grand
Avenue bonds the Metropolitan consolidated bonds will become, In effect,
a first mortgage upon the property now covered by the Grand Avenue bonds.
Earnings of the System.-For years ending May 31:
1908,
1908.
1907.
1907.
I
Gross earns _$6,144,558 $5,724,780'Bond Interest.$1,027,894 $1,011,5C8
-312,21 3
Net earnings
'Note, &c., int. 352,359
(aft.taxes) _ 2,460,092 2,373,564 ISur. for dlvs_ _ 1,079,839 1,049,77.5
Gross Earnings.
1907.
1905.
1906.
1908.
1904.
$5,162,840
$5,724,780
$4,465,723
$6,144,558
$3,884,047
-V. 86, p. 285, 1529.
Manhattan (Elevated) Ry., New. York.-Tax-Exempt
First Mortgage Bonds.-Redmond & Co., New York and
Philadelphia, have purchased from the Manhattan Railway
Co. $11,712,000 consolidated (now first) mortgage 4% gold
bonds, dated Feb. 26 1890, and due April 1 1990. The firm
states that Only these $11,712,000 bonds out of the entire
issue are exempt from taxation by New York State, i- ts
cities and Other local subdivisions, the bonds previously
issued under this mortgage not being so tax-exempt. The
bonds are also a legal investment for savings banks, trustees
and trust funds in the State of New York.
Holders of the outstanding $10,818,000 Metropelitan Elevated Railway Co. first mortgage 6% bonds which fall due
July 1 are being given,as per advertisement on another page,
the privilege of depositing Nrith the firm their bonds with the
July 1 coupon attached,receiving in exchange for each $1,000
bond so deposited one of the ,new tax-exempt 4% bends,
together with a pash payment of $40 per bond with interest
adjusted to July 1.
1590
THE
CHRONICLE
Abstract of Letter from Vice-President Alfred Skitt, New York,June lb
This Issue Is a direct first mortgage on tile entire property and of the
$11,712,000 which you have purchased. $10,818,000 are issued to retire
a like amount of Metropolitan Elevated Ry. first mortgage 6% bonds due
July 1 1908 and $894,000 are Issued for new mileage (extending from 177th
St. to Bronx Park—Ed.) Lit accordance with the mortgage. This Issue,
while Increasing the debt $894,000, yet effects, through the refunding of
the 6% bonds, a saving in fixed charges of $180.600 per annum.
11111The company owns all the elevated railroads(xcept those of the Subway
system) In Manhattan and the Bronx. The manhattan Railway Is electrically equipped, and the company owns the bridge over the Harlem River
used by it, and has extensive real estate holdings in fee in various parts of
the city, including a central power station occupying almost the.entire
block bounded by 74th and 75th streets, Avenue A and East River, seven
sub-power stations, and large repair shops and yards covering several
valuable blocks In Manhattan and the Bronx.
The franchises are perpetual and unusually favorable, being In the nature
of a contract with the city. The railway is leased for the remainder cf Its
099-year charter to the Interborough Rapid Transit Co., which company
guarantees all interest charges and 7% annual dividends on the 460,000,000
stock. The Manhattan Railway, independent of the guaranty, is now
earning over four times its Interest charges, as reduced by the afJresald
refunding. The net earnings for the year ending March 31 1908 amounted
to $7,019,997, against which the total interest charges amounted to $1,809,680. These fixed charges will hereafter be reduced as above stated to
$1,629,080. The surplus earnings after payment cf 7% dividends upon
$60,000,000 stock amounted to $1,010,317, or nearly 3% on the Interborough Rapid Transit stock.
Income Account for Year ending March 31 1908.
$14,716,495 Balance forward -------$5,210,317
Gross
4,200,000
$7,019,997 Dividends
taxes
over
:Vet
1,809,6801
iLeterest
-----------1
.$5210,317l Surplus over dividends $1,010,317
11121ance
Number of Passengers Carried Each Year (Q00,000 omitted).
1904.
1005.
1907.
1903.
1006.
1902.
1901.
1900.
)1899.
280
258
283
287
247
215
190
184
174
be $3i),777,000 outstanding. In
Tne totaf issue of tnese bonds will nowbe
for an equal amount
exchanged
to
reserved
$1.000,000
are
there
addition
.
RR., which mature March 1
of 5% debentures of the New York Elevated
under the mortgage except for ex1916. No farther bonds can be issuedthat
shall not Include
"extensions"
stipulates
mortgage
the
and
tensions,
existing
any side or third tracks, or other additions or betterments to the
,rallway.
ann•lal
0%
pays
which
(Subway),
Co.
Transit
Rapid
Interborough
The
dividends on its $35,000,000 capital stock, having leased the. Manhattan
Railway f)r the remaining 966 years of its corporate existence, the mortgage made by the Rapid Transit Co. to secure not exceeding $55,000,000
bonds covers this lease, and the mortgagor covenants promptly to pay the
rental and comply with the covenants of the lease. The net earnings ef the
Interborough Rapid Transit Co. and of the Manhattan Railway Co. combined, nr the year ending March 31 1908, af.er the payment cf all taxes,
rentals to the city of New York and interest on 3-year gold notes, amounted
to $9,838,762, against which the interest charges of $1,809,680 of the Manhattan Hallway Co. Is prvetically a first charge.
The bonds are exempt f'om taxation by the State of ,Tew York, its counties, cities, towns, villages, school districts and other local subdivisions,
and an endorsement to that effect appears upon each bond.—V. 86. p.
• 1467,
Metropolitan Street Ry., New York.—$3,500,000 Receivers'
..Certificates Offered.—The Central Trust Co. and Wm.A. Read
• Sr Co. are offering at 1004 and interest, yielding the investor
4%,Metropolitan Street Ry. Co. and New York City Ry.
-Co. $3,500,000 one-year 5% receivers' certificates, dated
June 15 1908 and due June 15 1909. Interest payable in
New York and London Dec. 15 and June 15. A circular says:
These certificates of indebtedness are secured by a first and paramount
New York, assessed In 1907
lien upon improved real estate in the city of power-house
at 96th St. and
• for $6,445,000, Including the company's main
First Ave., and upon other property of the Metropolitan Street Railway
$12,500,000
outstanding
"general
the
to
and colrespects
all
Co. prior In
lateral trust mortgage" bonds and $16,604,000 refunding mortgage bonds
as described In the letter of the receivers, Adrian H. Joline and Douglas
Robinson, printed within.
The order of the Circuit Court contains the following Important provision: "No further additional receivers' certificates creating any lien
upon any of the property aforesaid shall be authorized or issued In any of
the three causes above entitled, except and unless the receivers' certificates
authorized and Issued hereunder be expressly provided to be first discharged In full out of the proceeds of such other or additional 1 ;Elie of
receivers' certificates, before any of said last-mentioned certificates, or the
proceeds thereof, shall be applied to any other purpose."
Abstract of Letter from Receivers Joline and Robinson, New York, June 9 1908.
The certificates (compare V. 86, p. 1285) constitute a lien upon all the
property of the Metropolitan Street Ry. Co. and upon the net income of
the New York City Ry. Co. and Its other property, and upon all equipment
and other property heretofore purchased and acquired by us as receivers,
or that may be acquired by means of the certificates or the proceeds thereof,
and upon all net earnings and income. This lien is prior to the lien of the
"general and collateral trust mortgage" and also the refunding mortgage of
. the said Metropolitan Street By. Co.
The certificates constitute a first lien upon real estate In the city of New
York, the assessed value whereof in 1907 aggregated $6,445,000. They
constitute also a den upon real estate on Fourth and Lexington avenues,
32d and 33d streets, and Madison Ave., 85th to 86th St., the assessed value
whereof In 1907 was $2,175,000, these two last-mentioned parcels being
subject only to a prior mortgage of $950,000. The real estate parcels,
Lexington and Fourth avenues, 99th and 100th streets, and the Lexington
Building, 25th and 26th streets, upon which these certificates are also a lien,
had an assessed value At ,1907 of $1,630,000. These (together with the
Lexington Ave. & Pavonia Ferry Line) are subject to a prior mortgage of
$5,000,000.
The receivers' certificates constitute a lien on the Broadway surface line,
Lexington Ave. & Pavonia Ferry line, Columbus & 9th Ave. line, and
extensions, the South Ferry line and the Metropolitan Crosstown line,
subject to certain underlying mortgages, and a first lien upon the Houston
West St. & Pavonia Ferry and Avenue C line and extensions and branches:
Chambers St. & Grand St. Ferry line; Fort Lee extension and extension on
,5 miles of track
West Broadway. They also constitute a lirst lien on 1;
located In Mount Vernon owned by the New York City 1W. Co. The
certificates also constitute a lien upon the leasehold Interests of the Metropolitan Street By. Co. In the Bleeeker St. & Fulton Ferry RR. Co., Broadway & 7th Ave. RR. Co„ Cerftral Crosstown RR. Co., Christopher & 10th
Streets RR. Co., 42d St. & Grand Street Ferry RR. Co., 23d St. By. Co.,
2d Ave. RR. Co., 6th Ave. RR. Co., 8th Ave. RR. Co., 9th Ave. RR. Co.,
New York & Harlem (City Line) and other leases and operating contracts.
—V. 86. p. 1529.
Mobile & Ohio•RR.—Dividend Rate Reduced from 5% to 3%.
—The directors have declared a semi-annual dividend of
134%, placing the -stock on a 3% basis, contrasting with
5% yearly from December 1906 to December 1907 inclusive,
6% yearly from June 1905 to June 1907 inclusive, 2% in'
1904, 2% in 1903 and .1% in 1898.
To June 30 1907 the Southern fly. had acquired $5,670,200 of the
$6,070,600 stock, having issued therefor, dollar for dollar,Its stock trust
certificates, dividends payable 4% per annum In perpetuity.—V. 86, p. 603.
National Railways of Meacico.—Probable Sale of Bonds in
Paris.—It is understood that the company has practically
completed negotiations for the sale to Paris bankers of
approximately. $30,000,000 of guaranteed 4s.
Bonds, Earnings, Charges, &'c.—Official Statement.—On
subsequent page will be found a letter from Pablo Macedo,
• Chairman of the Board, regarding the status of the company
[VOL. txxx-vi.
and its bond issues, especially as regards earnings and fixed
charges (compare V. 86, p. 918).—V. 86, p. 1410.
New Orleans Railway & Light Co.—Collateral Notes.-George H. Burr & Co., New York, are offering at par and interest the unsold portion of an issue of $1,300,000 one-year
6% collateral notes dated June 20 1908, subject to- call at
101 on any interest date on 15 days' notice.
The notes are secured by the deposit of $2,400,000 of the company's gen% bonds, which have been held In the treasury.
eral mortgage 30-year
The July 1908 and January 1909 coupons are to remain attached to the
bonds, giving them an actual face value of $2,500,000. The bonds are now
selling at between 12 and 73.
The remaining $700,000 of the $2,000,000 which the banking
institutions named last week agreed to loan the company is
to be secured by certain real estate, valued at about $300,000,
not covered by the general mortgage,and by the equity in
the bonds deposited to secure the $1,300,000 loan made by
Burr Sr, Co.—V. 86, p. 1530.
Newton & Northwestern RR.—Receivership.—On June 19
Parley Sheldon of Ames, Iowa, was appointed receiver of
this road, from Newton, Iowa, to Rockwell City, Iowa,
9% are owned by
102 miles. Of the first mortgage bonds 963/
friendly interests.—V. 85, p. 100.
New York & Canada RR.—Merger.—See Delaware & Hudson Co. above and compare V. 86, p. 1223,858.
New York Chicago & St. Louis RR.—Listed.—The New
York Stock Exchange has listed $5,000,000 25-year 4% debentures due 1931.
The proceeds of the bonds have been or will be applied to the purehaS3
Of,new equipment, construction work and other ,ad !Mons to property.
Earnings.—For four months ending April 30:
4 Mos.
Taxes. Bal., sur.
Cross.
Net.
0th. inc. 1st Cloes.
1908
$3,227,565 $450,767 $12,862 $334,354 $992,000 $237,275
1907
752,880
3,508,451
• The charges as above ($334,354) in 1908 include: Interest on first mortgage bonds, $257,187::lns.erest on $3,000,090 debentures. $40.0.10; rental of
equipment, $27,082; rental of terminals, S10,085.—V. 86 p. 1344, 1038.
New York New Haven & Hartford RR.—To Dispose of
Massachusetts Trolley Roads by July 1 1909.—The decree of
the Massachusetts Supreme Judicial Court, entered on Tuesday, holding the ownership of Massachusetts trolley roads
illegal, prohibits the New Haven road from exercising any
ownership over the same directly or indirectly after July 1
1909. Compare V. 85, p. 1285.
Connecticut Suit.—Mackay & Co. of New York, who have
handled the securities of the system, and a number of the security holders, have brought suit in Connecticut with a view of
obtaining from the Supreme Court of Errors of Connecticut
an affirmative decision sustaining the action of the New
Haven company in issuing securities of the company and of
the subsidiary companies under special authority of the General Assembly of Connecticut, but without first obtaining
permission of the Legislature of Massachusetts.—V. 86, p.
1530, 1467.
New York Philadelphia & Norfolk RR.-0fier for Stock
Open until Aug. 1.—The holders of more than 90% of the
$2,000,000 stock have deposited their certificates with the
Fidelity Trust Co. of Philadelphia, as trustee, in acceptance
of the proposition from the Pennsylvania RR. to buy the
stock with 4% 40-year trust certificates, guaranteed principal and interest by the Pennsylvania RR., on the basis of
$3,000 of the certificates for each $1,000 par value of the
stock. The offer will remain open until Aug. 1.
The company has been In operation for 25 years and the Pennsylvania
RR. Co. and the Philadelphia Baltimore & Washington RR. Co. both
co w n,ny
alom
th
ershipin Its
pt
aided in Its promotion, and formerly hadae
time the
was resecurities, but they disposed of them at
organized in January 1899. The company is naturally a feeder of the Pennlines
with
connection
Southern
Important
sylvania system, forming an
through the Norfolk gateway, and its acquisition is in line with the policy
heretofore pursued by the company In that respect.—V. 86, p. 705.
Pennsylvania Company.—Dividend Decreased.—This company, whose $60,000,000 capital stock is owned by the Pennsylvania RR. Co., has declared a semi-annual dividend of
3%, payable June 30, contrasting with 4% paid last December.
Annual Dividend Record (Per Cent).
1892. 1893. 1894.'95 to '00. 1901. 1002. 1903. 1904. 1905. 1906. 1907. 1908.
7 ,rne,3
6
5
5
4
3
4
4
4
3
None.
—V. 86, p. 1281.
Pennsylvania RR.—Offer of Guaranteed Trust Certificates
for Stock of Feeder.—See New York Philadelphia & Norfolk
RR. above.—V. 86, p. 1226, 1101.
Philadelphia & Erie RR.—Purchase of Dissenting Shares.—
An agreement, it is announced, has been reached by which
the minority shareholders who last year declined to sell their
stock to the Pennsylvania RR. at $68 a share will get $85
a share therefor.—V. 84, p. 1183.
Philadelphia Rapid Transit Co.—Loan Authorized.—The
City Councils on June 25 approved the company's proposition
to pledge its assets in order to secure a $5,000,000
the
p. 1530.
piseent issue to be not over $2,500,000. See V. 86,loan,
Pittsburgh Terminal RR. & Coal Co.—Receivership for
Controlled Property.—See West Side Belt RR. below.—
V. 80, p. 1729.
St. Louis & San Francisco RR.—Payments Due July 1
Arranged for.—The company, it is announced, has arranged
to meet all its financial requirements July 1, including the
$900,000 loan (originally $1,750,000), and has also declared
the regular quarterly dividend of 1% on its first preferred
stock. See V. 86, p. 1226, 1345.
1 Seaboard Air Line Ry.—Receivers' Certificates Offered.—
Sntro Bros. & Co., 44 Pine St., New York, are offering at
THE CHRONICLE
JUNE 27 1908.i
par and interest the unsold portion (about $1,300,000) of the issued in exchange for the stak of the Electric Co. of Ameriissue of $3,000,000 6% coupon receivers' certificates dated ca; amoUnt listed to June 25 $728,000.
June 15 1908 and due June 1 1911, but redeemable at option
Earnings of Subsidiary Cornpan4es.-For calendar year
of the receivers on and after Dec. 1 1908. Interest payable 1907 and fottr months ending April 30 1908:
quarterly March 1, June 1, Sept: 1 and Dec. 1. DenominaPeriodGross.
Net. Bond rater.
Misc. Bal.,surp.
Year 1907
- 41,727,267 $758,185 $138,178 $95,233 $524,774
tion $1,000 c*. See advertisement on another page.
4 mos. 1908
288,780
720,398
74,484
41,640
172,656
Regarding these certificates S. Davies Warfield, R. LanThe American Gas 14 Electric Co. received from Interest on notes and
loans included In "MiScellaneous" above $85,009 and $36,747 respectively,
caster Williams and E. C. Duncan, the receivers, say:
which,
1. Asa primary security they constitute a paramount lien upon the surplus incomederived from the operation by the receivers of the lines of railroad owned or heretofore operated directly by the Seaboard Air Line Railway, and from the operation of the property of the Seaboard Air Line
Railway in the hands of the receivers after the payment out of the Income
from such operation and property of the expenses of the receivership and
.of operation and such ot ier amounts as the Court may direct.
2. As an ultimate security these certificates constitute (1) a lien prior to
the mortgage securing the Issue of 4% bonds upon all the property of the
:Seaboard Air Line Ry. and upoo all stocks, bonds, notes and other securities of the railway in the possession of the receivers covered by that mortgage; (2) a lien prior to the mortgages given to secure the three-year 5%
bonds and the thirty-year 5% bonds upon all the properties covered by
those mortgages except as to certain designated collaterals which are specifically pledged under the mortgage given to secure the three-year 5%
*bonds.
3. The certificates are also a lien prior to the collateral trust mortgage
liven to secure the $10,000,00) ten-year 5% bonds.
For the year ending June 30 1907 there would have been a balance of
,net earnings applicable to interest on receivers' certificates of $1,164,666;
'for the year ending June 30 1908 (tour months estimated) there would be
$1,100,971; and for the year ending March 31 1903 It Is estimated that tho
,net surplus applicable to the payment of the Interest on receivers' certificates should amount to $1,382,817. (The annual interest charge on these
.certificates Is only $180,000.)-V. 86, p. 1285.
added to the foregoing surpluses, makes totals of $609,783 and $209,403 respeetively.-V. 86, p. 1531, 1102.
Brooklyn Ferry Co., New York.-Property Foreclosed.-At
the foreclosure sale on June 25 the property was bid in for
the nominal sum of $25,000 by William 0. Madden of 15
Wall Street, representing the bondholders' committee, which
holds $6,300,000 of the $6,500,000 outstanding bonds.
Charles E. Hotchkiss of Davies, Stone & Auerbach, attorneys for the committee, is quoted as saying:
According to the terms of the sale, the deeds of the ferry property will
be delivered to the New York Terminal Co. July 24 and on the following day
it is probable that all the seven ferry lines will be shut down save two-the
lines running between 10th St. and Greenpoint and 23d St. and Greenpoint.
These two lines pay a slight profit above operating expenses, but all the other
live lines Involved are now run only at a loss. If the remaining five lines
are to be kept In operation, the city must make satisfactory arrangements
for the running of them, either by purchase outright or by making some
agreement with the New York Terminal Co. whereby It can operate the
lines at a fair percentage. The property of the company has been conservatively valued at $11,500,000, consisting principally of real estate,
but for more than two years a loss has resulted from Its operation as a ferry
company. See V. 86, p. 859, 1532, 1411.
.Southern Light & Traction Co.-Successor Co.-See SouthBrooklyn Union Gas Co.-Listed.-The New York Stock
.ern Railway & Light Co. below.
Exchange has listed $201,000 additional first consolidated
Southern Railway & Light Co.-Successor Co.-The com- mortgage 5% 50-year bonds due 1945, making the total
pany has been incorporated with $456,700 authorized stock amount listed to date $14,694,000.
as successor to the Southern Light & Traction Co. recently Co.The bonds Just listed were issued In exchange for $43,000 Citizens' Gas
consolidated mortgage bonds and $158,000 Union Gas Light Co. con'purchased at receiver's sale by Lynn H. Dinkins, President solidated
mortgage bonds, of which there are still outstanding
and
of the Inter-State Trust & Banking Co.of New Orleans. The $42,000, respectively, for which an equal amount of consols Is$264,000
reserved.
are:
directors
,
Earnings, &c.-See "Annual Reports" on a preceding
Lynn H. Dinkins, Jonas H. Levy, G. P. Ruins, H. M. Yourec and Silas page.-V. 86, p. 1527, 1470, 482.
L. Hyman. Henry M. Young, Secretary of the Inter-State Trust & flank-:
Butterick Company, New York.-Listed.-The New York
Aim Co., is Secretary and Treasurer of the new company.
Terminal Railroad Association of St. Louis.-Bonds Offered Stock Exchange has listed the company's $12,000,000 capital
in London.-Messrs. Coutts & Co., as bankers to Lee, Higgin- stock.
Income Accounts for Years ending Dec. 31.
son & Co. of Boston, and Higginson & Co. offered this
1907.
1906.
1905.
1904.
1903.
1902.
month in London the remainder of a block of $1,000,000 Profits
$259,678 $360,511 $555,419 $645,057 $766,965 $726,898
general mortgage 4% bonds at 97, ex-coupon due July 1 Divs. paid
360,000 480,000 480,000 480,000 480,000 300,000
1908, or £194 per $1,000 bond, being the equivalent of Balance,surplus *100,322 *119,489 75,419 165,057 286,965 426,898
9432% of the face value on the basis of the current rate of
• Deficit.
Tatal sutplus D:c. 31 19 )7, $734,578.--V. 86, p. 1227, 339.
•exchange. There are now $20,800,000 of the issue outtsttanding.-V. 86, p. 287.
Central & South American Telegraph 0o.-Partly EstimThird Avenue RR., New York.-July Coupons Not to Be ated Earnings.-For 3 and 6 months ending June 30:
Tot. Inc. Net Income.
Mos.
Dividends.
Bal., Sur. Total Surp.
Purchased.-Kuhn, Loeb & Co., who offered to purchase the 3
1908
$408,000 $251,500 (1 %%)5143,565 $107,935 $1,280,647
Jan. 1 1908 coupons from the 4% bonds, have made no similar 1907
395,000
268,000 (1 %%) 144,855
123,145
2,147,326
offer regarding the July coupons. (See V. 85, p. 1647'.)- 6 Mos.1908
8875,5)0 $567,800
(3%)5288,617 $278,384 $1,280,547
V.86, p. 1531.
1907
807,500
555,500
(3%) 260,739
294,761
2,147,326
Union Traction Co. of Indiana.-Listed in Philadelphia.- -V. 86, p. 1045.
Cocheco Mills, Dover, N. H.-Change in Par Value.-The
The Philadelphia Stock Exchange has listed $570,000 additional general mortgage 5% bonds, making the total listed shareholders will vote June 30 upon a proposition to reduce
the par value of shares from $500 each to $100 each, giving
$4,920,000.-V. 85, p. 347.
West Side Belt RR., Pittsburgh.-Receivership.-Judge five new shares for each old share. The capital stock is
Young in the United States Circuit Court at Pittsburgh on $1,500,000. No dividends have been paid for 14 years.
Consolidated Railway Electric Lighting & Equipment
Monday, upon petition by the Wabash RR., appointed F. H.
Skelding and W. H. McMasters receivers for the West Side Co.-Receivership for Parent Company.-See Consolidated
Belt RR. Co., all the $1,065,000 stock of which, except Railway Lighting & Refrigerating Co: below.-V.74, p. 328.
$25,000, is owned by the Wabash-Pittsburgh Terminal Co.
Consolidated Railway Lighting & Refrigerating Co.,
Compare V. 78, p. 704.
New York.-Receivership.-Vice-Chancellor Howell at NewWheeling & Lake Erie RR.-Notice to Holders of Consols.- ark, N. J., on June 22, upon application made by stockBrown Brothers & Co., 59 Wall St., and Maitland, Coppell holders G. Louis Boissevain and Charles S. Thorne of New
& Co., 52 William St., request the holders of the first con- York, appointed Randolph C. Barrett of Barrett & Barrett
solidated mortgage 4% gold bonds, in view of the decreased of Newark,temporary receiver of the company on the ground
'earnings and the receivership of the company, and the possi- of insolvency. The application shows:
The principal assets are $16,309,000 of the $21,119,833 outstanding stock
bility of some action becoming necessary on behalf of the
of the Consolidated Railway Electric Lighting & Equipment Co. and about
above bonds, to send to one of the above addresses regs. $6,167,000
of the stock of the Railway & Stationary Refrigerating Co.
names and addresses and the amount ef their holdings. The defendant corporation has
not paid Its State franchise taxes for the
years 1906, 1907 and 1008, and in consequence of its default in 1906 was.
-V.86, p. 1469, 1411.
at a suit of the Attorney-General, enjoined from exercising any of its franWisconsin Central Ry.-Listed.-The New York Stock chises.
BALANCE SHEET NOV. 30 1907.
Exchange has listed $800,000 additional first general mortAssets ($21,392,441).
Liabilities ($21,392.441).
I
gage.4% bonds due 1949, making the total amount author- Securs. owned
& pats. at cost $21,131,048'Capital stock- - - -$22,000,000
ized to be listed $24,543,000.
Due from Cons. Ry. El. Ltg.
I Less held by
dr
Equip.
Co
18,616 Manhattan Tr.
The $800,000 additional bonds have been issued for the
Due from Ry. dr Sta. Rfrg.Co. 242,6651 Co
884,162
improvement, equipment or extension of the property cov- Due
from European Ry. Re1
$21,115,838
frIgeratIng Co
371Accounts payable
ered by the mortgage as per certificate of the trustee. These
20,848
751Taxes, &c
255.755
bonds become available on acCount of bonds of underlying Cash In bank
The complainants believe that all of the assets "with the exception of
obligations retired, viz.:
$73 87 shown as cash in bank, are grossly overvalued in the said statement;
that the account due from the Railway & Stationary Refrigerating Co.,
amounting to $242,665. Is totally uncollectible, and that the account
against the Consolidated Railway Electric Lighting & Equipment Co.,
amounting to $18,616, Is of doubtful, If of any value."
Statements Furnished in Dec. 1907 for Controlled Cos (Excluding Patents).
Advances, Accounts
Total
Accounts
Cash.
Receivable.
.sec.
Assets.
Payable.
Consol, By. Electric
Bal., sur.
$47,728
Ltg. & Equip. Co_ _$965
$805
7
$170,000
$372,393 By. & Sta. Rfrg. Co__ 48
62
120
a$36,689
x242,665
--a Excluding patents. x To defendant Company.-V.84- p. 870.
Wisconsin Central RR. Co. first series 5% bonds, due Jan.1 1000.$722,500
Milwaukee & Lake Winnebago RR. Co., Manitowoc Division, 6%
bonds (called April 1900)
5,000
Total __ _ ____ _ _________ _______
$727,500
First general mortgage bonds,
avai- - - of the above_ _ _ $300,250
lable at -110%
Earnings.-For 10 months ending April 30:
ie MOS.- Gross. Net(over taxes). OM. inc.
$1,649,536
1007-08 ____$6,225,495
$43,089
6,175,520
1,846,58.1
1906-07
-V. 86, p. -1411.
Charges.
$1,320,212
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Snuff Co.-Listed.-The New York Stock Exchange has listed the company's $12,000,000 6% non-cumolative preferred stock and $11,001,700 common stock.V. 86, p'. 665.
American Gas & Electric Co.-Listing in Philadelphia.The Philadelphia Stock Exchange has authorized the listing
of the $6,282,000 'collateral trust 5% bonds, when and as
(The William)()ramp & Sons Ship & Engine Building Co.
-Report.-For year ending April 30:
Fiscal
Year1907-08
1906-07
-V. 85, p. 06.
Int. on
Net
Int. on Ground
Balance,
Earns. Sericallotes. lstM.Bds. Rents,&c. Surplus.
3555,739 $217,333 $64,167 $31,508 $242,727
225,333
328,328
65,417
34,170
3,408
•
Dominion Iron & Steel Co.-Annual Meeting.-The shareholders on Thursday voted to rejeetthe offer made bythe Dominion Coal Co. for the settlement of the coal contract litigation. They. also, it is stated, authorized the issuance of
$5,000,000 of common stock and $20,000,000 of consolidated bonds.-V.86, p. 172, 796.
Edison Electric Co. of Los Angeles.-Kern River Plant.
The company, it is stated, is now getting all its electric
power, about 40,000 h.p. from its Kern River plant. See
V. 85, p. 1084.
Electric Storage Battery Co. Philadelphia.-Dividend
Again Reduced.-The directors on Wednesday declared "from
3 of 1% on both
the net earnings" a (quarterly) dividend of %
common and preferred stocks (together aggregating $16,249,425), payable July 1 to shareholders of record June 27.
This reduces the annual rate from 4% as paid in April last
and 5% as maintained from April 1 1901 to Jan. 2 1908,
both inclusive, to 3%.-V. 86, p. 797, 723.
Green Canon Coal CO.-Called Bonds.-Eight 7% gold
mortgage bonds, viz.: Nos. 13, 99, 100, 103, 185, 276, 280
and 283, have been called for redemption on July 1 1908
at the office of the International Trust Co., as . trustee,
Denver, Col.-V. 85, p. 1648.
International Paper Co.-Listed.-The New York Stock
Exchange has listed $23,000 additional first consolidated
mortgage 6% bonds due 1918, making the total amount
listed to date $9,198,000, and has authorized to be added
to the list from time to time $182,000 additional bonds on
notice of issuance in exchange for prior lien bonds, making
the total amount authorized to be listed $9,380,000.
Earnings.-For ten months ending April 30 1908:
$17,187,006'Bond int., taxes, insur__ $1,007,008
Gross earnings
Net earnings
• [VOL. Lxxxin.
THE CHRONICLE
1592
2,246,110 'Pref. divs. 9 mos.(4%) _
Surplus for ten months ending April 30 1908
'roc tt surli is April 30 1908, $7,208,339.
Louisville Home Telephone Co.-Application Denied.Judge Gordon in the Circuit Court at Louisville denied the
application of the company for a mandamus to compel the
Board of Public Works to put up for sale at auction the
franchise created by the ordinance passed by the General
Council on May 26, known as the Home Telephone ordinance.
have been for
it Is held that to have been valid the ordinance should
the interest of the
the benefit of the whole public, whereas it is clearly In
telephone company, to permit It to increase Its rentals; and,•further, that
under the ordinance the company might or might not have acquired the
franchise by purchase, and that 'this doubt Is sufficient to prevent the
company from maintaining the sult.-V. 84. p. 573.
Mexican Telegraph Co.-Partly Estimated Earnings.-For
3 and 6 months ending June 30:
Total
Three
Income.
Mos.1908 ____$168,500
1907 ____ 172,500
6 Mos.1908 ____$380,000
1907 ____ 357,500
-V. 86, p. 1046.
Net
Income.
$161,500
167,500
Mexican
.Govt.
$8,000
9,000
Dividends
paid,
(2%%)$71,752
(23i%) 71,752
Balance,
Surplus.
$81,748
86,748
$337,000
344,500
$15,500
18,000
(5%)8143,504
(57)143,502
$177,908
182,998
Mobile (Ala.) Electric Co.-Preferred Stock Offered.William P. Bonbright dc Co., New York, are offering the
company's preferred stock.
Of the $3,000,000 first mortgage 5s $1,054,000 are outstanding; interest
payable May 1 and Nov. 1 at First National Bank, New York, and also,
It Is supposed, in Chicago.
The authorized capital stock is $3,000,000, of which $2,500,000 is common and $500,000 is 6% cumulative preferred; par of shares $100. Presldent, C. E. Groesbeck, Mobile; Vice-Pres., J. J. O'Brien; Sze., James S.
Cummins, and Treas.. N. P. Zech, all of Chicago.
Earnings.-For April 1907 and 1908 and for 11 months
ending April 30 1907-1908:
h of April-Month
806,263
$342,839
Suit.-Twenty-four companies including the Continental
Paper Bag Co. of Watertown, N. Y., controlled by the International Company and independent companies, manufacturing wrapping paper, pleaded guilty on June 19 before
Judge Hough in the United States Circuit Court, in this city,
to indictments charging them with a violation of the Sherman Anti-Trust Law in having formed the Fibre & Manila
Association, organized by John H. Parks and known as the
Parks pooling plan. They were fined $1,000 each.
it was claimed, manufacture
All of thei:companies involved combined,
the association being dissolved when
only 23% of the output of the country,
86, p. 1347, 850.
lolated.-V.
w
s
It became evident that ',tie l v
Kentucky Electric Co.-Decision.--The Court of Appeals
of Kentucky, by a unanimous decision (opinion by Judge
Hobson),on June 17 held valid the franchise granted by the
General Council to the George G. Fetter Co.
Journal" dated June 18 says that
A dispatch to the Louisville "Courier
Louisville Is allotted under the
"the choicest part of the city ofvaluable lighting franchise ever franchise,
granted in
most
the
be
and it Is said to
is insisted that the ordinance impairs
Louisville." The Court says: "It
contract. In 1113 ordinance granting the
plaintiff's
the
of
obligations
the
Electric Co. holds (see V. 84, ). 1251 franchise under which the Kentucky
in this ordinance shall be construed
Ed.), there are the words: 'Nothing
the City of LoUlsville from granting a like
proienting
as
or
exclusive
as
firm or
person,
other
This is
any
to
franchise or privilege power of the General Councilcorporation.'
but a restriction on
not a restriction on the
granted."
franchise
the
Gross earnings
Net earnings
Bond interest
Interest on floating' debt_
Preferred dividend
$21,350
9,887
5,229
046
19,563
$2107.
1
60
1 17
9:1
,
11 Mos. end. Apr. 30.
1907-08.
1906-07.
$268,172
$217,351
125,000
84,383
3
6324
1:9
56
43,344
a22,500
z7,500
3
1$T472,539
_!_uLplus$33
6%per annum on $500.000
a Includes 9 months' dividend at the rate of 11
months ending April 30
preferred stock, paid in scrin. z During the1907 three dividends of 13. % each were paid on the, preferred stock, the
last ofawhIch was in cash, the earlier dividends being paid In scrip. The
latter are the, only Bodo dividends ever paid,,and are not charged off
against earnings.-V. 85. p. 1:522.
Montreal Steel Works.-Dividends.-The directors have
declared with the quarterly dividend of 13%% on the
$800,000 preferred stock an interim dividend of 2% on the
$700,000 common stock, payable July 8 to shareholders
of record June 30. In July 1907 an interim dividend of
was paid on the common stock and in January 1908
2
,for the twelve months.
432% was paid, making a total of 7%
Earnings.-See "Annual Reports' on a preceding page.
-V. 84, p. 752.
Mt. Vernon (Ill.) Car Manufacturing Co.-New Officers.W. C. Arthurs has been elected President, to succeed D. 0.
Settlemire, deceased; R. K. Weber, Vice-President; D. P.
Settlernire, Secretary and Treasurer.
National Carbon Co., Cleveland.-Rumors Denied.Cleveland "Finance" says:
• President Hughes is quoted as saying that the.company's
H. E. Hackenberg, Treasurer of the National Carbon Co., absolutely
a re-linancing scheme
plant is approaching completion and will be ready to furnish denies the report that the directors are ligurintrupon
232.
p.
86,
the retirement at the preferred stock by an issue of 5% bonds.
-V.
involving
days.
60
current within
the
present outstandingfor
paid
to
be
was
125
rumor
According to the
mortgage 5% bonds at par. The retirement
Kilbourne & Jacobs Manufacturing Co., Columbus, 0. preferred stock in new first
one stock and the
only
with
the
company
leave
would
the
preferred
of
New Stock.-The shareholders received on June 1 a circular story said that this stock was then to be placed on a permanent 7% basis.
"The directors have not even discussed such
offering them the right to subscribe at par ($100 a share) Treasurer Hackenbergissaid:
proposition. There nothing to be gained by altering our capitalization.
for $62,500 of the $125,000 common stock held in the arho
rumor originated probably in some broker's dream."-V.86, p. 601.
treasury, to the extent of one share for each 20 shares now
New England Cotton Yarn Co.-Earnings.--The Boston.
held by them respectively.
of June 25 says:
The company in April last arranged to purchase, extensive timber lands "Herald"
to establishing Its own lumber
In Southeastern Kentucky with a viewconnection
with tills new departmills. The new stock issue Is made In
present holders on or before
the
by
not
taken
stock
the
of
Any
ure.
at not less than
July 1 will be sold by the directors at their discretion
the
$140 a share. The stock has been selling for 140 to 150; 140 being
time. James
considerable
for
been
a
has
sold
it
which
at
price
lowest
Kilbourne is President and General Manager; F. W. Hubbard, Secretary
and F. C. Eaton, Treasurer.-V. 84, P. 099.
Kirby Lumber Co.-Payment of Overdue Timber Certificates.-Notice is gi*en that the principal of timber certificates, series "I," of $420,000, due Feb. 1 1908, will be paid
on July 1 1908 at the National City Bank of New York or
the Maryland Trust Co., Baltimore, Md. together with
to July 1. With
interest at 6% per annum from Peb. 1 1908'
this payment, $2,630,000 of the timber certificates will have
been retired, leaving $4,685,000 outstanding. See adv.
tile trustees for the Kirby
The differences between the Houston Oil Co. and
but no agreement has yet
Lumber certificates are still being negotiated,
-V.86, p. 54.
been reached by the several parties In Interest.
Lake Superior .Corporation.-Status of Michigan Lake
Superior Power Co. See V. 86, p. 1526.
Interest Paid.-The interest due June 1 on the $8,921,000
first mortgage bonds was paid when due.
Fire.-The plant of the subsidiary, Tagona Water & Light
Co., suffered considerably from a fire which occurred on
May 18, but the loss, it is stated, was covered by the insurance.
New Officers.-J. Tatnall Lea of Philadelphia has been
elected First Vice-President to succeed F. B. Reeves, who
resigned, and F. W. Ayer, President of the Merchants' National Bank of Philadelphia, has been made a director.V. 86, p. 921, 797.
Long Acre Electric Light & Power Co., New York.-Application Denied.-The Public Service Commission has declined to sanction the proposed issue of $50,000,000 bonds
and $10,000,000 stock. • See V. 86, p. 453, 423.
Tile company earned $385,000 net for the quarter ended Dec. 31 last
for
and $230,000 for the quarter ended March 31 1908, a total of $615,000
of 1906-07
the halt-year, compared with $588,000 for the same 6 months
months
six
for
earnings
T
1905-06.
and $446,000 for the 0 months of
the company
e Wed March 31 last were record figures for 6 months sinceV.
85, p. 1084.
was formed. Compare annual report in V. 85, .p 1338, and
Pacific Coast Power Co. of Washington.-Stock Listed in•
Boston.-The Boston Stock Exchange has listed the 61,162.
outstanding shares of this Stone & Webster enterprise, incorporated Jan. 17 1908. Authorized capital stock 70,000,
shares, par $100. President, Frank Dabney; Treasurer,,
Henry B. Sawyer; Secretary, Alvah K. Todd.
($078,9
butlii,e319
.52,883).
A:
.E SHEET OF ML
L,8
52
3)C
,9A
A8N
8
($7
Assets
stnotesocic
$7,805000:000000,1
Aiaoprittgaaige
04 C
:35851:8
Property account
payable
Subscription account
3507:070160
100 Notes payable
Accounts receivable
13,924 IDue on proprety purchased__
Cash
15,167
I Accrued interest
$2
11
I
Webster Manufacturing Co., Ohicago.-Bonds Offered.Peabody, Houghteling & Co. recently offered a block or
the company's $80,000 first mortgage 6% serial gold bonds.
An advertisement says:
Maturities.--$11,000 May 15 1909; $11,000 1910; 813,000 1911; $13,000
1912: $16,000 1913; 816,000 1914. Secured by first mortgage on Chicago
plant on W. 15th St. near Western Ave., consisting of seven modern and
fully equipped buildings on valuable land. Value of security $167,300.
Comnany In successful operation since 1876.
Pine Bluff (Ark.) Light & Water CO.-Foreclosure.-A decree of foreclosure was entered against the company in the United States Court at Little Rock, Ark., on June 6, in the
suit brought by the New York Trust Co. and Osborn W.
Bright, as trustees, to foreclose both the company's mortgages, the first mortgage amounting to $250,000 and the
refunding mortgage $750,000 (including- $250,000 reserved
to retire the first mortgage). The foreelosure sale has been
set for July 9.
.
•
JUNE 27 1908:)
THE CHRONICLE
1593
& St.Paul,Chicago & Pacific Western division,1st M.5% due
1921, and $45,000 Chicago'& Eastern Illinois general consol.
5s due 1937. These bonds,it is believed, are not in the hands
of persons who came by them honestly, as there are upon
them three coupons past due; none of these have been presented for payment, except from a very small number of
them, presented recently by persons who are apparently
trying to realize on them. The circular giving the numbers
Dele
Co.—Favorab
of the bonds can be obtained from the Pinkerton Detective
Collieries
d
Consolidate
Pocahontas,
Court
District
States
Agency.
United
the
in
McDowell
,cision.—Judge.
favor of the
.at Wheeling, W. Va., on Wednesday decided in shares
—The New York Stock Exchange firm of J. M. Martin
of the
-company the suit brought by the holders of 3,016
Co., consisting of J. M. Martin and Alfred Nicolovius,
&
minority stock of the Pocahontas Collieries. Co. to prevent
dissolved on the 22d inst. Messrs. Martin and Nicolowas
consolidation with the Pocahontas Consolidate,d Co. Com- vius have entered into a copartnership with Nicoll Floyd Jr.
pare V. 86, P. 484, 424.
(formerly of Walsh & Floyd) under the name of Martin &
Roswell (N. M.) Gas Co.—Bonds Offered.—This company Floyd, with offices at 52 Broadway. Mr. Martin is the Exis offering for sale $50,000 first mortgage bonds, to net pur- change member. The partnership which had existed under
the name of Walsh & Floyd was terminated by the recent
chaser 6.66%. An advertisement says:
Established company making over four times the proposed Interest death of Mr. Walsh. The new firm of Martin & Floyd will
.charges. Liberal long-time franchise.
assume all outstanding obligations of the firm of J. M. MarSheffield Coal & Iron Co.—Time Extended Till July 1.— tin & Co.,as well as succeed to the business of Walsh & Floyd.
The reorganization committee has extended the time for
—A new Chicago firm has just been organized to deal in
the deposit of bonds and stock till July 1. Practically all
municipal, corporation and public service securities,
railroad,
deposited
been
have
stock
of
the
majority
a
bonds and
in the Commercial National Bank Building, on
offices
with
are
stated,
is
it
securities,
new
the
for
s
subscription
and
The firm name is Woodin, McNear & Moore.
floor.
third
susthe
been
has
plants
of
the
operation
The
.
satisfactory
is
from Oskaloosa, Iowa, a successful coal
Woodin
G.
671.
G.
p.
86,
V.
in
plan
See
on.
reorganizati
pending
pended
and interested in a chain of Iowa banks;
and
merchant
miner
has
Reese
Sunday Creek Co.—New Treasurer.—Harry J.
several years been a valued bond saleshas
for
McNear
W.
C.
who
Suydam,
been elected Treasurer to succeed Charles A.
& Co. and the Harris Trust & SavHarris
N.
W.
with
man
resigned.—V. 86, p. 1534.
ings Bank, and C. H. Moore Jr. has for 15 years been conTennessee Central RR.—Option to, Lapse,—The Illinois nected with Farson, Leach & Co. and A. B. Leach & Co.
Central,it is understood, has decided not to exercise its July 1
—Clark L. Poole & Co., Chicago, offer by advertisement
option on a controlling interest, in the Tennessee Central,
over
on
another page of this issue $2,000,000 6% first mortgage
line,
this
of
operation
up
it
give
will
date
that
and on
of the Great Southern Lumber Co. The bonds are
bonds
Southern
The
Nashville.
reaches
Illinois
Central
the
which
some 236,000 acres of pine
Ry.also recently decided to let its share in the option lapse.— secured by a first mortgage. on
timber land in Louisiana and other property valued at over
V. 86, p. 1286.
. The company is largely owned and controlled
ToledolIce & Coal Co.—Rebates.—The company on June 23 $10,000,000
Goodyear, the well-known lumbermen of
Messrs.
by
the
before
Court
pleaded guilty in the United States District
is very fully described in our last
property
The
Buffalo.
accepting
of
Judge Taylor on three counts to the charge
1533.
page
on
issue
to
Lakeland
rebates on ice from the Ann Arbor RR. from
—Jacob Rubino, 3 Broad St., offers at 873. and. interest
Toledo.
Oil Co. 5%
The indictments contained 155 counts. The maximum fine that could any part of $100,000 of Indiana Natural Gas &
$1,255
of the People's Gas
be levied on each count is $2,000 and the minimum $1,000. A fine of counts
guaranty
the
with
bonds
first
mortgage
other
the
and
imposed
on each count, making a total of $3,750, was
Light & Coke Co., Chicago, endorsed on the bonds. This
dismissed—V. 86, p. 425.
of stock. The
Tonopah (Nev.) Mining Co.—Dividends Resumed.—The latter company pays 6% on $33,000,000
Mr. Rubino, who will
directors on June 25 declared a dividend of 25 cents pershare, bonds are strongly recommended by See advertisement on
payable in, July. The last dividend paid was 25. cents quar- give further particulars on request.
another page.
terly, paid Oct. 21 1907. See V. 86, p. 085, 289.
—Hervey Hicks has opened an office in the Borland Block,
• United States Cast Iron Pipe & Foundry Co.—N. F. Brady
and John Arthur Hayes have been elected directors to suc- Chicago (suite 901) for the transaction of a general, bondbrokerage business, both listed and unlisted. He will make
ceed E. R. Thomas and C. E. Burke.
Report.—See "Annual Reports" on a preceding page. a specialty of irrigation issues, having been for more than
twenty years identified with leading irrigation propositions
—V. 86, p. 173.
Vice-President and.
Virginia-Carolina Chemical Co.—Probable Bond Issue.— in the West. Mr. Hicks was formerly
& ConstrucIt is. generally believed that the management contemplates Managing Director of the Chicago Engineering
making a $15,000,000 bond issue, out of which it would tion Co.
—The attention of investors is asked to a list of. taxretire. the existing $5,000,000 5% collateral trust bonds.—
exempt municipal bonds advertised in this issue by John
V. 85, p. 155, 165.
Westinghouse Electric & Mfg. Co.—Reorganiczation—Ex- Nuveen. & Co., Chicago. The bonds are issued by municitension of Time.—The time limit to subscribe for the $10,000,- palities in New Mexico, Indian Territory and Oklahoma
000 new stock expired June 22 and further subscriptions are under authority of Acts of Congress, and are tax-exempt in
being accepted by the reorganization committee. It is any State, the same as United States Government bonds.
understood that the outlook for the success of the merchan- For particulars, see the advertisement on another page.
dise creditors' plan is so favorable that an extension of time
—William N. Burt Jr. and Samuel Carothers, formerly
to subscribe will probably be granted, possibly until Sept. 1. with the failed firm of James. Carothers & Co. of Pittsburgh,
The "New York Times" on June 25 said:
have formed the firm of William N. Burt Jr. & Co. to deal
1 While the Securities investment Co. (see V. 86, p. 1158, 1162) and Presia general investment business in stocks and bonds. The
in
for
it
remains
new
stock,
the
of
share
their
taken
have
dent Westinghouse
the Germania Savings
their creditors, who hold these shares as collateral, to supply the cash for offices of the new organization are in
the subscriptions, and these sums will, not be available until the subscripBoth partners are members of the PittSBuilding.
Bank
Increditors,
and
other
Institutions
banking
tions have been ratified by
volving considerable delay. There is no doubt in the minds of the com- burgh Stock Exchange.
made good.
mittee, however, that these subscriptions will eventually be
—The Trust Co. of America announces the payit was said. to
[Of the stock unsubscrlbed for as late as June 19, amounting,
re- ment of a very extensive list of railroad, municipal and
about $2.000,000, the Security Investment Co.'s ouota was currently
ported to be about 81,400,000.—Ed. "Chronicle."]
corporation coupons, on and after July 1st next. For details
Payment of Interest.—The United States Court at Pitts- see advertisement on another page.
burgh yesterday authorized the receivers to pay the interest
The coupons formerly paid at the Colonial Branch,(old
due July 1 upon the funded debt and floating debt of the Colonial Trust Company) 222 Broadway, are now paid at
company,, and also interest due Aug. 1 on the collateral the main office of the Trust Company of America, 37-39
notes.—V. 86, p. 1474, 1413.
Wall Street.
Yale & Towne Mfg. Co., New York.—Extra Dividend.—
—Attention is called to a very attractive list of bonds
of
The company has declared the usual quarterly dividend
advertised in this issue by N. W. Harris &, Company
1M% and an extra dividend of JA of 1%,both payable July 1. The list includes municipal, railroad and corporation
Stock authorized, $5,000,000, all of one class, being increased from $2,- bonds, and under each of these classes will be found securities
000,000 In August 1907 (par of shares,$100). The stockholders and direcmay be in the market for highstors have subscribed for $500,090 new stock, the last Installment of their that should interest any who
subscriptions being payable July 10 next, raising the amount outstanding grade investments. Details of any desired issue will be
the
plant
on
5%,
secured
first
mortgage
$1,000,000
$1,500,000.
Bonds,
to
and equipment at Stamford. Conn.; interest payable Jan. 1 and July 1 at sent upon request.
Chemical National Bank, New York. President, H. R. Towne. New
—George H. Taylor Jr. who has for several. years been
9
Murray St.
York office,
connected with the bond house of E. H. Rollins & Sons, as
first in the East and latterly as Chicago city
—Stolen Securities.—A circular has been sent out giving salesman,
been promoted to take charge of the Baltimore
has
salesman,
the
from
1907
a list of the various bonds stolen in February
firm, with headquarters at 114 Keyprominent
this
of
office
The
Conn.
Savings Bank of New Britain, New Britain,
Building.
ser
Bridge
Merchants'
bonds in question include one St. Louis &
—Mr. Herbert C. Wright,who was at the head of the bond
Co. 1st M. 6% bond No. 43; $20,000 Philadelphia HarrisCo. for several years, has
burg & Pittsburgh RR. Co. 1st M. 5% bonds; $10,000 Har- department of T. A. McIntyre &Messrs. Sutro Bros. & Co.,
lem River & Port Chester (N. Y. N. H. & H. RR.) first M. recently become identified with
assumes the charge
4% bonds due May 11954; $15,000 Rochester & Pittsburgh bankers, 44 Pine Street this city, and
(B.R. & P.) consol. 6s due 1922;$35,000 Chicago Milwaukee of their extensivelbond department.
appointed C. Philip
In April last Judge Jacob Trieber of the Federal Court
Bluff receivers of the
Waters of Little Rock and Frank G. Bridges of Pine
has been pendcontest
A
mortgage.
the
foreclose
to
suit
.company in the
the city endeavoring
ing for years between the city and the water company,
to get control of the water works.
the construction of a
A contract was awarded about two months ago for will be operated as
power plant and a 3,000,000-gallon reservoir, which
Ford, Bacon & Davis,
President.
Is
Bridges
G.
F.
enterprise.
the
of
part
the plans ,for the. construction of the
115 Broadway, New York, prepared "Electrical
World"t of NeW York for
ew plant. See description In the
Feb. 29 1908.
1594
THE CHRONICLE
7/az:port5 and Klocantentso
NATIONAL RAILWAYS OF MEXICO—FERROCARRILES NACIONALES DE MEXICO.
OFFICIAL STATEMENT REGARDING THE NEW COMPANY.
ness of the National Railroad Company, $33,000,000 cars
Mexico, D. F., 6th May, 1908.
be redeemed on not more than six months' notice..
Messrs. Speyer & Co., Messrs. Kuhn,Loeb & Co.,
Sufficient Prior Lien Bonds and General Mortgage Bonds
Messrs. Hallgarten & Co. and Messrs. Ladenburg, Thalmann
are reserved to redeem the Bonds and obligations of the
& Co., New York.
Gentlemen:—The Mexican. Government, which through Mexican Central Railway Company, Limited, and the National Railroad Company of Mexico, the deposit of which
ownership of Stock already practically controls the Na- is
not invited by the Plan, with the object that ultimately
tional Railroad Company of TMexico, has caused a plan to be
prepared for the Readjustment and Union of the Mexican the Bonds may become an absolute first charge on the comCentral Railway Company, Limited, and the National Rail- bined properties of the National and Central Railway
road Company of Mexico, through the creation of a new Corn panics.
The following securities and shares of this Company will
Company, entitled Ferrocarriles Nacionales de Mexico (National Railways of Mexico), organized under the laws of the be forthwith issuable to the Mexican Government, to the
Republic of Mexico, pursuant to an Act of Congress, approved public in exchange for securities and shares of the Mexican
26th December, 1906, and a decree of the President of the Central Railway Company, Limited, and National Railroad
Republic of Mexico, issued pursuant thereto, dated 6th July, Company of Mexico called for deposits under the Plan, and
1907. The Mexican Government will hold a controlling in- to meet the cash requirements of the readjustment, viz.,
about:
terest in the Stock of this Company.
$64,000,000 Prior Lien 4 % Bonds.
It is proposed that this Company shall acquire Securities
$36,000,000 Guaranteed General Mortgage 4% Bonds.
$28,833,000 4% First Preferred Shares.
and Stocks of the Mexican Central Railway Company,
$122,793,000 5% Second Preferred Shares.
Limited, and of the National Railroad Company of Mexico,
$74,847,000 Common Shares.
and in due course take over the railways and properties of the
Excluded from the foregoing are about $22,300,000 Prior
two last-named Companies.
Lien Bonds and about $11,300,000 Guaranteed General
Referring to the issue of $13,750,000 National Railways of gage Bonds, issuable with respect to Mexican CentralMort-Mexico Prior Lien 432% Sinking Fund Redeemable Gold way Company, Limited, Bonds now.in the Treasury of Railthat
Bonds, I beg to state the following:
,Company, and pledged to secure its obligations.
These bonds form part of a total authorized issue of $225,U. S. Gold.
combined receipts from operation of Nat ona Railroad
000,000 (which may be increased by $6,000,000 additional The
• Company of Mexico and Mexican Central Railway ComBonds, ranking pani passu with the other Bonds of the series,
pany, Limited, after deducting ex,,enses of operation for
the year ending 30th June, 1907, and including all net into retire £1,200,000 4
Prior Lien Bonds of the Mexican
come from other sources, amoun ed to
$8,173,872 03
International Railroad Company or other Bonds which may Such
combined net receipts of tile two Companies for the
six months ending 31st December, 1907, amounted to.. _ _$4,341,540 30
have been issued to retire them), to be secured under a mortThe Presidents of said Companies have made the followgage as mentioned below. About $103,000,000 of this
amount (whereof not exceeding $64,000,000 are to be issued ing estimates of such combined net receipts of said respective
forthwith) is issuable for the purpose of retiring Bonds and Companies for the fiscal years ending 30th June, 1908, and
Notes of the Mexican Central Railway Company, Limited, 30th June, 1909:
U. S. Gold
and the National Railroad Company of Mexico. The re- Gross earnings
(8 months actual, 4 months estimated) for the
mainder can only be used for defined purposes as follows:
fiscal year ending 30th June, 1908
$26,991,000
17,970,000
About $48,000,000 can only be applied for the construc- Expenses for the fiscal year ending 30th June, 1008
tion or acquisition of, additional railroad lines and the acquiNet earnings
$9,012,000
sition of Stocks and Bonds of other Corporations owning
Estimate
stimatefor fiscal year ending 30th June, 1909:
lines of railroad, &c., and about $47,500,000 after 1st JanuGross earnings
$29,430,302
ary, 1910, for improvements and equipment at a rate not Expenses
19,185,000
exceeding $2,500,000 Bonds per annum cumulative; about
Net earnings
$10,245,302
$26,500,000 are available for the purposes of the Plan and
for improvements and equipment required in the near future.
The interest charges on the outstanding obligations, inThe Prior Lien 432% Sinking Fund • Redeemable Gold eluding taxes and rentals, of the above companies for the
Bonds of the Company are to mature on 1st July, 1957, and fiscal year ending 30th June, 1908, amount to $7,664,166 56.
are to be secured under a Mortgage and Deed of Trust to
On the basis that all the securities called for deposit unthe Central Trust Company of New York, as Trustee, by the der the plan shall have been exchanged, I estimate that,
deposit and pledge by way of first charge of all securities after payment of the interest charge on the obligations of
embraced in the Plan of Readjustment as finally Carried out, the above companies not so called for deposit, amounting
and on. the acquisition of the property of the National Rail- to $3,932,430,
net earnings accruing to the National Railroad Company of Mexico and/or the Mexican Central Rail- ways (the new the
company), would be as follows:
way Company, Limited, by direct charge thereon.
1908.
1909. ,
On The basis of the fiscal year ending 3015 June— U.S. Gold.
U.S. Gold
The Bonds are to be further secured by the mortgage and Net
$9,012,000 $10,245,302
receipts as above
pledge of all property acquired by the proceeds of any of the Interest on obligations not called for deposit
3,932,430
3,032,430
Prior Lien Bonds, and by the mortgage and pledge, with
$5,070,570
$6,312,872
priority over the General Mortgage, of all property at any Interest on $64,000,000 Prior Lien Bonds Issuable
2,880,000
time embraced in the General Mortgage, or acquired by the . .forthwith as above
2,880,020
use of any of the Guaranteed General Mortgage 4% Gold Balance available for meeting the interest on the
Guaranteed General Mortgage 4% Bonds and
Bonds of the Company.
for dividends on the stock of the new Company_ $2,199,570
$3,432,872,
The Prior Lien 4
Bonds will therefore rank before
the $160,000,000 Guaranteed General Mortgage 4% Sinking
The foregoing figures do not take into consideration any
Fund Redeemable Gold Bonds maturing 1st October, 1977, increased earnings from rate and tariff adjustments or econoprincipal and interest and Sinking Fund installments of mies and savings resulting from combining under one conwhich are to be unconditionally guaranteed by the Mexican trol the management of the two systems, which I confidently
Government (which amount may be increased for refunding anticipate will greatly increase the efficiency and facilitate
purposes, as provided in the General mortgage.)
working and considerably decrease the cost of operating the
Provision is to be made in the Prior Lien mortgage for the roads concerned.
creation by the Company of a Cumulative Sinking Fund
The Presidents of the National and Central Companies
(the first annual payment in respect of which is to be made have estimated that the additional net earnings resulting
for the year 1917), calculated to be sufficient, with accumu- from these causes, which are expected to begin to
accrue
lations, to retire the entire issue at or before maturity. The from 1st July, 1908, will amount to a sum exceeding $2,000,Sinking Fund is to be applicable to the purchase of Bonds in 000 U. S. gold per annum.
the market at not exceeding 105 and accrued interest, or
The Company, through its holdings of Shares of National
by drawings at 105 on n9t less than ninety days' notice; the Railroad Coin pany of Mexico, will control the Mexican InBonds are also redeemable in amounts of not less than $10,- ternational Railroad Company and the Interoceanic Railway
000,000 on any interest date after 1st January, 1917, at 105 of Mexico (Acapulco to Vera Cruz), Limited, and the total
on not less than ninety days' notice.
mileage of the system controlled by it will comprise the folOn the cOmpletion of the Readjustment, the Bonds (by lowing railways:
means of the deposit of securities and shares under the Plan
Miles.
Company of Mexico, Standard Gauge
1,378
of Readujstment)' will be practically a prior lien charge on National Railroad
Narrow , Gauge
do. •
• Do
526
the entire Mexican Central Railway system (about 3,428 Mexican International
Railroad Company,Standard Gauge
918
Railway of Mexico (Acapulco to Vera Cruz), Limited,
miles), and also practically a charge on the National Railroad Interoceanic
Narrow Gauge
Company of, Mexico system (about 3,558 miles), subject to Mexican Central Railway Company, Limited, including Mexican Pa- 736
cific Railway Company, Standard Gauge
outstanding , indebtedness of about $57,750,000 charged
3.528
---upon the property of the National Railroad Company, and
Total '
_7,080
subject, as to the lines of the Mexican International and InI am, Gentlemen,
.
teroceanic:com panics, to their respective outstanding issues,
,
Yours faithfully,
a large amount of •which, comprising the voting control, is
PABLO
MACEDO,
held by the National Railroad ,Company.. • Of the indebtedChairman. of the Board of Directors.
;PONE 2.7 1908.]
1595
TIIE CHRONICLE
Ttc Tomutertial
COMMERCIAL EPITOME.
COTTON.
Friday Night, June 26 1908.
THE MOVEMENT OF THE 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
43,355 bales, against 48,356 bales last week and 63,902
bales the previous week, making the total receipts since
the 1st of September 1907, 8,056,218 bales, against 9,598,585
bales for the same period of 1906-07, showing a decrease
since Sept. 1 1907 of 1,542,367 bales.
Friday Night, June 26 1908.
There is no evidence of a departure from the conservative
policy which has so long dominated trade in this country
and where sales have increased it has not been on a large
scale. The crop outlook seems to be favorable. Prices in
general are steady.
LARD on the spot has been dull. Prices have shown irregularity, but in the main the tone has been easier, owing
Total.
Wed. Thurs. Fri.
Receipts atMon. Tues.
to liberal receipts of hogs and increased offerings of product Galveston
3.386
1,245 1,162 14,379
4,215
2,560
hand-to-mouth
a
on
has
buying
been
The
packers.
from
Port Arthur_ _ _ _
basis. Western, 9©9.10c. and City 9 2c. Refined lard CorpusChristl,&c
689
1,209
New Orleans_ _ _ _
3,562 -777 2 3,076
has been firm on light supplies. Trade has been quiet and Mobile
273
161) 1,220
139
222
258
1,661
limited mainly to local jobbers. Refined Continent 9.40c., Pensacola
Jacksonville, &c.
South America 9.85c. and Brazil in kegs 11.20c. Specula- Savannah
,666 -481 1,178. 1,6695.890
1,129
11,182
850
tion in lard futures at the West has been on a moderate scale Brunswick
430
201
39
107
83
and there has been an absence of marked fluctuations in. Charleston
121
121
Georg_etown _ _ _ _
prices. Rather liberal receipts of hogs at times and depres- Wilmington
3.099
527
464
727
_
276
367
738
242 4,811
701
Norfolk
789 1,184 1,315
580
sion in the grain markets have led to scattered selling by N'port
News, &c.
commission houses and packers. But on the recessions there New York
451)
324
60
has been more or less investment buying as well as support Boston
545;
541
Baltimore
from larger packers.
20
Philadelphia
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Fri.
Wed. Thurs.
Sat.
Tues.
Mon.
Totals th s week_ 5,703 8,187 8,447 9,860 6,027 5,131 43,355
8.87 % 8.90
8.90
8.92% 8.92% 8.05
July delivery
9.12% 9.12% 0.12% 9.12% 9.073-i
September delivery__ 0.10
9.12%
9.20
9.20
9.17% 9.20
The following shows the week s total receipts, the total
October delivery
PORK on the spot has been firmer. Supplies are far from since Sept. 11907, and the stocks to-night, compared with
being burdensome and jobbers have bought rather freely at last year:
times. Mess $15 50@$16, clear $16 25@$17 50 and family
1006-07.
Stock.
$17 50@$18. Beef has again advanced. There has been a
1907-08.
Receipts to
good demand and most grades are sold up to production or
This Since Sep This Since Sep
June 26.
ahead. Mess $13 50@$14 50, packet $14@$16, flank
1907.
11907. week. 1 1906. 1908.
week.
- $14 50@$15.50, family $15 50@$17 25 and extra India
41,896
3,841,301
34,353
9,309
2,424,874
14,379
mess $23 50@$25. Cut meats have been strong and in good Galveston
132,823 ,
108,500
Port Arthur
72,015
___
___ 37,825
demand, partly for export. Pickled Western hams 113@ CorpusChristi,&c.
63,801
New Orleans_ _ _ _ 10,712 1,052,537 5,106 2,255,741 74,356
121/0., pickled bellies 14(§,10 lbs., 9 ®10c. and pickled Mobile
6,470
6,295
158 256,167
1,220 324,382
142,919
Tallow has been quietAut firmer.= Pensacola
1,669 161,038
shoulders 63'@6c. '
7,602
____
8,434
Jacksonville, &c_
4c. Stearines have been quiet Savannah
light offerings; City 5%®53
5.890 1,496,605 3,039 1,462,649 30,292 26,643
645
,
170,609
197,901
and firm; oleo 11c, and lard 113c. Butter has been 13runswick
6,388
8,695
58 146,734
430198,378
moderately active and easier on increased supplies; creamery Charleston
1,105
722
121
Georgetown
1,502
3,310
extras 231 2c. Cheese has been quiet but firmer; State, f. c., Wilmington
25 322,212
3,090 497,019
4,811 536,359 1,491 580,387 15,277 19,317
small, fancy, 12c.; large 11%c. Eggs have been in moder- Norfolk
347
487 41,064
____
6,812
&c
News,
Newport
2c.
22,704 76,30E 163,039
ate demand and -firmer; Western firsts, 17@173/
3,653 __.' _
New York
7,235
6,214
139 71,827
459 14,117
OIL.-Cottonseed has been quiet and easier; prime sum- Boston
5,525
3,863
928 60,796
545 77,547
nqiiimore
3,424
2c. and prime winter yellow 49@ PhIladelpAla
1,956
0,840
225
mer yellow 47@473/
9,508
20
49]Ac. Linseed has been firm with a moderate demand for
93,355 8,056,218 21,050 9,598,585 260,919 346,232
Total
small lots. There is a disposition to shade quotations on
car lots but buyers are still averse to anticipating requireIn order that comparisons may be made with other years
ments.- City, raw, American seed, 44(0)45c., boiled 45@,
leading ports for six seasons:
46c. and Calcutta raw 70c. Lard has been quiet and steady; we give below the totals at
prime 66@,68c. and No. 1 extra 53@55c. Cocoanut has been Receipts at- 1908.
1903.
1904.
1905.
1906.
1907.
--- ------ ------quiet and steady; Cochin 731 ®73/2c. and Ceylon 6%@63-2c. ------ ----1,023
1,263
22,081
9,390 10,99k
14,37£
Galveston..__
Olive has been quiet and steady; yellow 65@75c. Peanut Pt
497
1,54.
50
.Arthur,&c.
12,650
9,921
has been dull and steady; yellow 65@80c. Cod has been New
17,981
10,522
5,106
10.712
Orleans_
74
221
2,17(
934
158
1,22'
tiobile
moderately active and steady; domestic 42@43c. and New- Savannah
447
2,750
4,662 13,003
3,039
5,810
foundland 44@45c.
1,041
15
Brunswick
6
581
901
191.
58
551
COFFEE on the spot has been quiet and easier at 6% © :,'harleston,&c
35
27
1,00(
1,175
3,099
25
Wilmington
64c. for Rio No. 7. West India growths have been steady, Norfolk
2,761
1,701
5,860
1,711
1,401
4,811
645
it.461
487
with the buying on a hand-to-mouth basis. Fair to good N'port N., (See
1,415
6,841
89,
355
1,292
2,63
Cucuta 8@93%c. Speculation in future contracts has been kll others_ _ _ _
10,553
43.355 21,050 30,637 72,899 17,374
on an extremely small scale. There has been nothing stimu- Total this wk_
------ ----- ------ ----- ----- ----lating in the foreign advices, and the generality of the trade Since Sept. 1_ 8,056,118
9,598,585 7,575,328 ),427,254 7,053,987 7,597,460
here are disposed to hold aloof and await developments.
On the whole, however, the tone has been slightly firmer,
exports for the week ending this evening reach a total
owing to small buying of the distant months by local dealers of The
42,841 bales, of which 20,673 were to Great Britain,
and roasters and light offerings.
8,571 to France and 13,597 to the rest of the Continent.
The closing prices were as follows:
since Sept. 1 1907.
5.85c. Below are the exports for the week and
5.85c. I February
October
5.0
June
5.90c.
5.85c. I March
5'90c. November
July
1 1907 to Jim 26 1908.
Sept.
From
1908,
26
ending
June
Week
5.90c.
5.85c. I April
Ikcember
August
Exported toExported to5.05c.
5.85c. I May
5 0 lc. January
September
Exports
ContiGreat
Great
ContifrontSUGAR.-Raw has been quiet and weaker on larger ofTotal.
Britain Petite tient. Total. Britain. France. nent. -ferings. Centrifugal, 96-degrees test, 4.25c.; muscovado,
-4c., and mloasses, 89-degrees test, 3.50c. Galveston - -- ---- 6,787 ----6,787 899,056336,712 920,899 2.156,667
89-degrees test, 33
-__. 48,024 - - -. ,6SI.A2 108,500Refined has been in fair demand and steady. Granulated Port Arthur.-.
2,895.
5.30c. Teas have ruled firm, with a somewhat better demand Corp.Chrlstl,c
- t 712,1113 1,809,7276,
5.159 17,262 8t..72-,t2g7
New Orleans-247,066,
from jobbers. Spices have been moderately active and Mobile - ---..- Pensacola - - 1/71-39 :::: --;-18. 1,817 49,930 48,614 67.744 166,288.
•
firm. Hops have been dull and steady.
Fernandina.
884,872'
Reand
demand
firm.
--- - 3.806 -.-.2,407 6,273 170,651 91,150 623.071
good
in
Savannah
been
has
PETROLEUM
87,707 -- -- 88,208 175,915.
Brunswick-- fined, barrels 8.75c., bulk Sc. and cases 10.90c. Gasoline Charleston. 34.050 44,45S,
-- - 325,185 988,635
28,520
10,408has been firm and in good demand; 86 degrees, in 100-gallon Wilmington- --- - - ---__ --- - 132,930
29,190 - -- 6,686 35,876
Norfolk
drums, 20c.; drums $8 50 extra. Naphtha has met with a Newport
L636
News.
brisk demand at firm prices; 73@76 degrees, in 100-gallon New York- - - - 2-,iiii -iii 4-Ai) 1.6-1 251,1:n 32,524 294.859 582,995
- 11.670 151,032
795 139,362
795 -__.
drums, 17c.; drums $8 50 extra. Spirits of turpentine has Boston
-49 64.292 116,931
900 1,902 47,590 4,0
1.002 --__
Baltimore been quiet and easier at 43c. Rosin has been dull and Philadelphia - - --- - -- - _
297 297 38.576 --__ 14,732 53,308
1'
• 1
Portland, Me.. --- - - - - - --- - -- - steady; common to good strained $3.
48,622 48,622San Francisco. - --TOBACCO.-Trade in domestic leaf has suffered a set- Seattle
..
71,543 71,543
77
77
,
--30,868 30,868
back, the recent improvement in the demand having proven Tacoma
1,050
1.050
Portland, Ore_ of short duration. Consumption of cigars is still on a greatly Pembina.
reduced basis and manufacturers are still averse to antici- Detroit- -pating needs. Sumatra and Havana have been quiet.
7,177,999
Total
20.673 8,571 13,597 42,8412,849,840 :45,5353,482,621
.- -Prices generally, however, have ruled steady.
------r- ,916 8,270.397
COPPER has been dull and Oasy; lake 12% ®l 3c. and Total 1906_07_ 24,367 1,791 15,914 42,0723.746,777901,7093,621
I
electrolytic 121A@12%c. Lead has been quiet and steadier
In addition to akove exports, our telegrams to-night also.
at 4:55c. Spelter has been quiet and steady at 4.50e. Tin
/gc. Iron has been quieter give us the following amounts of cotton on shipboard, not
has been dull and weaker at 273
and steady; No. 1 Northern $16.25@$17 and No. 2 Southern, cleared at the ports named. We add similar figures for
$16 25@$16 75. id
L
10-,431 1.672
THE CHRONICLE
1596
On Shipboard, Npl Cleared forOther CoastGermany. Foreign wise.
Great
June 26 at- Britain. France
Galveston _ _ _ _
New Orleans_
Savannah _ _ _ _
Charleston_ _ _ _
Mobile
Norfolk
New York
Other ports_ _ _
Total 1908_ _
Total 1007_ _
Total 1906.._
6,605
1,794
461
3,100
700
1,300
13,960
7,391
20,671
100
4,540
2,642
922
4,658
3,311
-ioo
-ioo
Total.
4,881 20,684
1,499 9,355
700 1,622
ai
-566
. 9,843 13,043
2,000
-ioo 2,000
-9,769 18,023 51,065
209 . 9,104
5,480 11,288 17,153 41,558
246
8,577 12,463 9,453 13,356 64,520
1-Ao .
1,200
500
Leaving
stock.
Fair
Basis Good mid.tinged c.. Eves
c 1 75 on Middling
c
Strict mid. fair ____1.50 on Strict low mid
0.30 off Strict mtd.tInged _0.20 oft
Middling fair
1.25 on Low middling
1.00 off Middling tinged
_0.30 off
Strict good mid_ ___0.75 on Strict good ord_ _ _1.50 offiStrict low mid. ting.1.00 off
Good middling__ __0.50 on Good ordinary
2.00 oft Low mid. tinged_ 1.50 oft
Strict ni1ddlIng0.25 on Strict g'd mid. tgd_0.35 on Middling stained__ _1.25 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Sat.
12.20
Mon. Tiles.
12.00 11.80
Wed. Thurs. Fri.
11.80 11 7,) 11.60
NEIV YORK QUOTATIONS FOR 32 YEARS.
1908_c
11.60
1907
12.90
1906
10.80
1905
9.30
1904
11.05
1903___ r ___13.35
1002
0.31
1901
8.88
1900_c
1809
1898
1897
1896
1805
1894
1893
9.5611892_c
6.0011891
6.3811890
7.7511889
7.5011888
7.0011887
7.3111886
7.9411885
7.44
8.38
11.94
10.94
10.31
10.94
9.31
10.44
1884_c
1883
1882
1881
1880
1870
1878
1877
11.06
10.38
12.25
11.06
11.88
12.38
11.38
11.75
MARKET AND SALES AT NEW YORK.
The total sales of cotton on the spot each day during the
week at New 'York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
Spot Market
Closed.
Saturday_ _
Monday_ _ _
Tuesday -Wednesday
Thursday _
Friday ---
Futures
Market
Closed.
Quiet
Steady
Quiet, 20 pts. dec._ Steady
Quiet, 20 pts. dec Steady
Quiet
Quiet
Steady, 10 pts. dec. Steady
Steady, 10 pts. dec. Steady
Total
6
Sales of Spot and Contract.
Con- ConExport surn'n. tract. Total.
_
- - --- _
25
25
25
1,500
10
25
1,500
10
1,265
1,565
6
6
6
0
0
6
0
c;
&I &I &I 0)1 &I &I 01 &I &I "
&I el el
"... RR
C 'I "I "I
I CI CI H II
"1°1 C
.0
00
CC
Speculation in cotton for future delivery has continued
on a very moderate scale so far as most months are concerned, though there has at times been heavy liquidation
in July. The "long" selling of July has been, in fact, so
large that all, sorts of rumors have been current, the snm
and substance of most of which is that holdings of large
interests here, if not in New Orleans, have been sold, while
many smaller operators who recently bought in expectation of a very marked advance through a predicted corner
in July have also sold so freely that in the aggregate these
transactions have likewise been a very depressing factor.
The July premium over October, which was recently 120
points fell at one time during the week to 40 points, though
within a few days there has been a recovery in the premium
of some 30 to 35 points. There has also been a good deal
of selling of August and September to say nothing of the
selling of the next-crop months attributed to a Wall Street
bear contingent. Liverpool has sold July, August and
October to some extent, and from various parts of the
South there has been not a little selling of one kind or another. The low, point of the week was reached last Tuesday when prices suddenly dropped 73 points on July
and 76 on August. These minimum figures showed a
decline since last Friday of 87 points on July, 78 on August,
62 on September and 38 on October. Since then there
has been a recovery, leaving the net loss for the week,
however, something very marked. The apparent collapse
of the July deal is attributed very generally to the continuance of good weather over most of the South, the more
cheerful character of'much of the crop news, a cessation
of aggressive buying by ,interests supposed to be prominent
in the July deal, and, finally, rumors widely prevalent
that various members of the so-called July pool were selling out. This precipitated scattered selling for local
Southern and other interests, and the collapse of prices
was the inevitable result. It has been denied that the
illness of a member of the Exchange here, supposed to be
prominently identified with the bull movement in July, had
any relation to the sharp decline which has occurred in
that option. Another depressing factor,as already intimated,
was the persistent attacks on the market attributed to
Wall Street operators, some, indeed, describing the big
decline largely to this selling alone, without minimizing
the effects of more cheerful weather and crop news. Today prices declined on this crop,owing, partly to the issuance
of July notices to the extent of 20,000 bales, and some
general liquidation, but the next crop, after wavering early,
advanced in the later business and even July and August
rallied before the close. Spot cotton has been dull. Middling closed at 11.60c., a decline for the week of 60 points.
The rates on and off middling, as established Sept. 11 1907
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
June 20 to June 26Middling upland
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
21 gl 21 41 2
211 21 200
21
21 00 1 II II
13,660
65,001
28,670
8,695
4,834
2,234
73,408
13,343
209,854
304,674
253,481
[VOL. Lxxxvi.
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THE VISIBLE SUPPLY OF COTTON to-night, as ma de
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 Thursday
evening. But to make the total the complete figures
for to-night (Friday), we add the item of exports from
the United States, Including in it the exports of Friday
only.
June 26Stock at Liverpool
Stock at London
Stock at Manchester
1908.
1007.
bales =595,000 1,131,000
9,000
12,000
70,000
85,000
1906.
746,000
16,000
64,000
1905.
841,000
13,000
57,000,
674,000 1,228,000
21,000
14,000
367,000 309,000
826,000
41,000
218,003
169,000
5,000
42,000
41,000
28,000
222,000
3,000
16,000
73,000
30,000
116,000
4,000
13,000
30,000
7,000
673,000
658,000
411,009
011,000
14,000
308,000
1,000
114,000
3,000
27,000
26,000
4,000
-L.497,000
----1,408,000
70,000
246,000
21,000
135,000
928,000
300,502
217,200
11,342
Total Great Britain stock
Stock at Hamburg
Stock at Bremai
Stock at Antwerp
Stock at H.avre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Tota1 Continental stocks
Total European stocks
1,347,000 1,886,000 1,237,000
India cotton afloat for Europe_ _ _
166,000
82,000
203,000
American cotton afloat for Europe 165,092
121,502
173,732
Egypt,BrazII,&c.,afloat for Europe 22,000
34,000
12,00
Stock In Alexandria. Egypt
79,000
129,000
82,000
Stock in Bombay, India
51.1,000 758,000 904,000
Stock in U.S ports
318,001
260,910
346,232
Stock In U.S. Interior towns
197,576
168,463
183,282
U S. exports to-day
10,772
13,409
9,596
Total visible supply
2,712,702 3,608,793 3,098,081 3,436,233
Of the above, totals of American and other descriptions arc as follows:
AmericanLiver oolstock
bales. =479,000 907,000 638,000 772,000
40,000
Manchester stock
54,000
76,000
60,000
351,000 456,000
Continental stock
549,000
575,000
246,000
173,732
American afloat for Europe,
121,502
165,092
260,919
309,502
U.S. port stocks
346,232 318,001
107,576
U. S. Interior stocks
217,299
168,463
183,282
10,772
U.S. exports to-day
11,342
0,506
13,409
Total American
East Indian, Brazil, dec.Liverpool stock
London stock
Manchester stock
Continental stock
India, afloat for Europe
Egypt, Brazil, &c., afloat
Stock In Alexandria, Egypt
Stock in Bombay, India
1,736,702 2.267,793 1,743,081 2,151,233
=116,000
9,000
10,000
98,000
82,000
22,000
129,000
510,000
134,000
12,000
9,000
109,000
203,000
34.000
82,000
758,000
108,000
16,000
10,000
60,000
166,000
12,000
70,000
904,000
69,000
13,00Q
8,000
41,000
70,000
21,000
135,000
928,000
Total East India, &c
Total American
976,000 1,341,000 1,355,000 1,285,000
1,736,702 2,267,793 1,743,081 2,151,233
Total visible supply
1,736,702 3,608,793 3,098,081 3,430,233
Middling Upland, Liverpool
6.M5d.
6.10d.
7.15d.
5.34d.
Middling Upland, New York.... 11 60c.
10.80c.
13.15c.
10.15c.
Egypt, Good'Brown, Liverpool.11d.
854d.
115d.
8d.
Peruvian. Rough Good, Liverpool
11.25d.
8.65d.
0.80d.
9.15d,
Broach, Fine, Liverpool
6%(I.. 5 11-16d.
55i d.
534d.
TInnevelly. Good. Livernool
5 5-16d.
5%d. 5 1-16d.
5%d.
.
Estimated; cablegram not received.
Continental imports for the past week have been 56,000
bales.
The above figures for 1908 show a decrease from last week
of 132,583 bales, a loss of 896,091 bales from 1907, a decrease of 385,379 bales from 1906, and a loss of 723,531
bales from 1905.
1597
THE CHRONICLE
JUNE 27 1908,1
QUOTATIONS FOR MIDDLIUG COTTON AT OTHER
AT THE INTERIOR TOWNS the movement-that is,
the receipts for the week and since Sept. 1, the shipments MARKETS.--Below are the closing quotations of middling
for the week and the stocks to-night, and the same items cotton at Southern and other principal cotton markets for
for the corresponding period for the previous year-is set each day of the week.
out in detail below.
Closing Quotations for Middling Cotton onWeek endingJune 26.
Sarday. Monday. Tuesday. Wed'day. Thursd'y. Friday.
--11%
11 %
11 %
Galveston
ii ye
11%
New Orleans_
11%
Mobile
11%
iiye
11%
11%
Savannah
11 %
Charleston
ii-g
ii-g
kVilmington_ _
12
12
Norfolk
11.80
11.70
Boston
12%
12
Baltimore
11.85
12.05
Philadelphia __ _
11%
12
Augusta
11 %
ii ye
Vemphis
11%
F. Louis
11%
11 9-16
11 9-16
Bouston
11 %
ii ye
Little Rock_ __ _
,
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NEW ORLEANS OPTION MARKET.-The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
',:t
_
,r
..
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The above totals show that the interior stock have decreased during the week 25,557 bales and are to-night 14,819
bales more than at the same time last year. The receipts
at all the towns has been 17,543 bales more than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-We give below a statement showing the
overland movement for the week and since Sept. 1, as
made up from telegraphic reports Friday nights. The
results for the week and since Sept. 1 in the last two years
are as follows:
June 26ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, ecc
Total gross overland
Deduct shinmentsOverlan(l to N. Y., Boston, &c_ 1,024
112
Between interior towns
1,032
Inland, &c., from South
Total to be deducted
Leaving total net overland
----1906-07---Since
Week. Sept. 1.
8,089
791,121
1,072
214,350
830
83,524
498
84,758
53,607
270
101
119,247
403 307,684
----1907-08---Since
Week. Sept. 1.
6,386 436,344
216,6U5
6,090
33,851
436
53,685
1,421
483
48,817
568
91,627
115
211,698
-- ---15,499 1,092.627
11,362 1,654,300
104,830
63,730
65,271
1,292
39
1,734
165,167
03,236
71,468
329,871
2,168
233,831
3.065
13,331
858,706
8,297 1,324,429
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement has been 13,331 bales, against 8,297 bales for the
week last year, and that for the season to date the aggregate net overland exbihits a decrease from a year ago of
455,633 bales.
--1907-08
Since
In Sight and Spinners'
Sept. 1.
Week.
Takinos,
43,355 8,056,218
Receipts at ports to June 26
858,71)6
13,331
Net overland to June 26
Southern consumption to June 26_ 39,000 1,941,000
1906-07-Since
Sept. 1.
Week.
21,050 0,598,585
8,297 1,324,420
48,000 2,042,000
95,686 10,856,014
102,609
'25,557
77,347 12,065,014
72,187
20,167
Total marketed
Interior stcoks in excess
__-- --- Came into sight during week_ _ _ 70,129
10,058,713
Total sight June 26
1,758,403
to
26
June
33,417
takings
spinn's
North'n
in
48,180
15,823
13,037,201
2,559,650
• Decrease during week.
Movement into sight in previous years:
Week1906-June 20
1905-June 30
1904-July 1
1903-July 3
Bales. I Since Sept. 170,28511905-06-June 29
112,02811904-05-June 30
52,155I1003-04-July 1
40,05511902-03-July 3
Satsday. Matiday, Tuesday, Wedsday, Thursd'y, Friday,
June 20. June 22. June 23. June 24. June 25. June 26
I
Bales.
10,574,623
12,640,041
0,842,043
10,450,495
Jut,
Range
Closing
JulyRange
Closing
AugustRange
Closing
SeptemberRange
Closing
OctoberRange
Closing
NovemberRange
Closing
DecemberRange
Closing
JanuaryRange
Closing
MarchRange
Closing
ToneSpot
Options
_ ® _ ____ ® ___. _ ® _ _ ® _ _ ® ___ ___ ® 11.90 • 11.52 • 11.30 • 11.43'11.27 • 11.21 •
11.71-.75 11.51-.63 11.40-.45 11.29-.43 11.25-.47 11.21 11.70-.75 11.52 - 11.30-.3i) 11.43 -11.27-.31 11.21 11.09-.31 10.83-.90 10.66-.71 - @ -- 10.57 10.47-.5C
11.07-.08 10.80 - 10.63-.66 10.73-.75 10.52 - 10.47-.51
- @ -- @ -- @ -- @ -- 9.8:: 9.60 10.20 - 9.97-.91, 9.85-.87 9.97-.96 9.75-.78 9.63-.61
9.62-.6C 9.42-.58 9.25-.41 9.30-.4C 9.24-.39 9.24-.31
9.62-.63 9.42-.43 9.28-.2t, 9.39-.40. 9.29 - 9.26-.21
- ® ____ ___ ® -- ® ___ - ® - _ ® _ _ ® 9.53-.55 9.33-.31 9.20-.2 9.34-.36 9.24-.26 9.19-.21
9.45-.49 9.26-.42 9.11-.27 9.17-.21 9.11-.2€ 9.15-.2C
9.47-.48 9.26-.27 9.14-.15 9.28-.29 9.18-.19 9.15-.1(
- 9.49 9.29-.42 9.19,2.5 9.21-.26- @ -- 9.21
9.48-.49 9.26-.28 9.14-.1C 0.30-.3k 9.21-.23 9.16-.1f
- @ -- @ -- @ -- @ -- @ -- @ --- 9.10 - 9.10 - 9.32 - 9.20-.3C -- -Quiet. DullE'sy Quiet. Steady.
Steady. Steady.
Dull.
Quiet.
*
Easy.
Quiet.
Quiet.
• Nominal.
WEATHER REPORTS BY TELEGRAPH.-Our telegraphic advices from the South this evening indicate that,
in the main, the weather has been satisfactory during the
week. Temperature has been favorable generally and the
rainfall, on the whole, light or moderate.• In Texas the crop
is reported to be doing well, as a rule, but in the Western
half of the State rain is said to be needed and reports of
shedding have been received from Southern and Southwestern districts.
Galveston, Texas.-The crop is doing well in Texas as a
whole, but in the Western half of the State rain is said to be
needed and reports of shedding are coming in from southern
and southwestern districts. We have had showers on five
days of the past week, the rainfall being forty-seven hundredths of an inch. The thermometer has averaged 82,
ranging from 75 to 89.
Abilene, Texas.-It has rained on two days of the week,
the precipitation reaching forty-two hundredths of an inch.
The thermometer has ranged from 68 to 100, averaging 84.
Brenham, Texas.-It has rained on five days of the week,
the rainfall being two inches and nine hundredths. Average
thermometer 82, highest 92, lowest 71.
Corpus Christi, Texas.-There has been rain on three days
of the week, the rainfall being fifty-two hundredths of an
inch. The thermometer has averaged 81, the highest being 88 and the lowest 74.
Cuero, Texas.-We have had rain on three days during
the week, to the extent of one inch and fifty-nine hundredths.
The thermometer has averaged 85, ranging from 71 to 98.
Dallas, Texas.-Rain has fallen on one day during the
week, the rainfall reaching eighteen hundredths of an inch.
The thermometer has ranged from 67 to 94, averaging 81.
Fort Worth, Texas.-It has rained on two days of the week,
the rainfall being five hundredths of an inch. Average
thermometer 81, highest 92, lowest 70.
Henrietta, Texas.-We have had excessive rain on one day
of the past -week, the rainfall reaching two inches. The
thermometer has averaged 86,the highest being 105 and the
lowest 67.
Huntsville, Texas.-We have had rain on two days of
the past week, the rainfall being fifty-four hundredths of
an inch. The thermometer has averaged 82, ranging from
71 to 93.
Kerrville, Texas.-We have had rain on one day during
the week, the precipitation reaching eighty hundredths of
an inch. The thermometer has ranged from 64 to 96, averaging 80.
Lampasas, Texas.-There has been rain on two days the
past week, the rainfall being twenty-five hundredths of an
inch. Average thermometer 83, highest 100, lowest 66.
1598
THE CHRONICLE
[VOL. Lxxxvx.
Longview, Texas.-There has been rain on two adys of the the past week,
to
extent of eighty-eight hundredth's of
week, the precipitation reaching forty-four hundredths of an inch. Average the
thermomete
r 83, highest 95, lowest 73.
an inch. The thermometer has averaged 81, the highest 96
Tallahassee, Florida.-We have had • rain on four days
and the lowest 66.
during the week, the rainfall being one inch. The therLuling, Texas.-We have had heavy rain on three days mometer has
averaged 80, the highest being 93 and the
during the week, to the extent of two inches and sixty-seven lowest 67.
hundredths. The thermometer has averaged 83, ranging
Atlanta, Georgia.-Rain has fallen on two days during the
from 70 to 96.
week, the rainfall reaching six hundredths of an inch. The
Nacogdoches, Texas.-Rain has fallen on three days dur- thermomete
r has averaged 78, ranging from 67 to 91.
ing the week, the rainfall reaching seventy-three hundredths
Augusta, Georgia.-We have had rain on four days during
of an inch. The thermometer has ranged from 69 to 94,
the week,the precipitation reaching one inch and ninety-six
averaging 83.
hundredths.
Palestine, Texas.-We have had rain on four days the past averaging 79. The thermometer has ranged from 67 to 93,
week, the precipitation being fifty-two hundredths of an inch.
Savannah, Georgia.-We have had rain on three days
Average thermometer 81, highest 94, lowest 68.
during the past week, to the extent of one inch and twentyParis, Texas.-There has been no rain during the week. four hundredths. Average thermometer 81, highest 90,
The thermometer has averaged 79, the highest being 93 and lowest 70.
the lowest 64.
Washington, Georgia.-We have had rain
days
San Antonio, Texas.-Rain has fallen on two days of the during the week, the precipitation reachingon three
week, the precipitation being twenty hundredths of an inch. and seven hundredths. The thermometer has three inches
ranged from
The thermometer has averaged 82, ranging from 68 to 96.
68 to 98, averaging 83.
Charleston, South Carolina.-Rain has fallen on three days
Taylor, Texas.-We have had rain on two days of the past
week, to the extent of fifty-two hundredths of an inch. The during the week. the precipitation reaching eighty-six
hundredths of an inch. The thermometer has ranged from
thermometer has ranged from 70 to 92, averaging 81.
Weatherford, Texas.-There has been rain on one day. the- 72 to 89, averaging 81.
Greenwood, South Carolina.-There has been rain on four
past week, the rainfall being three hundredths of an inch.
days during the week, the precipitation being two inches
Average thermometer.84, highest 97, lowest 71.
Ardmore, Oklahoma.-We have 110 rain on two days dur- and fifty-three hundredths. Thermometer has ranged
ing the week, the precipitation being twenty hundredths of from 66 to 93, averaging 77.
Charlotte, North Carolina.--Rain has 'fallen on two days
an inch. The thermometer has averaged 78, the highest beduring the week, the precipitation being one inch and twenty
ing 91 and the;lowest 64.
Holdenville, Oklahoma.-There has been rain on one day hundredths. The thermometer has ranged from 67 to 94,
the past week, the rainfall reaching thirteen hundredths of averaging 72.
Greensboro, North Carolina.-Rain has fallen on one day
an inch. The thermometer has averaged 75, ranging from
of the week, to the extent of fifty-five hundredths of an
62 to 88.
Marlow, Oklahoma.-It has rained on one day of the inch. The thermometer has averaged 80, the highest being
week. The thermometer has ranged from 62 to 89, aver- 94 and the lowest 84.
Raleigh, North Carolina.-There has been rain on three
aging 76.
Oklahoma, Oklahoma.-It has rained two days of the week, days during the week, the precipitation being two inches
the rainfall being two inches and ninety-four hundredths. and fifty-eight hundredths. Thermometer has ranged from
64 to 96, averaging 80.
Average thermometer 77, highest 90 and lowest 64.
Alexandria, Louisiana.-There has been rain on four days
The following statement we have also received by teleduring the past week, the precipitation reaching one inch graph, showing the height of
points named
and thirty hundredths. The thermometer has averaged at 8 a. m. of the dates given: rivers at the
81, the highest being 96 and the lowest 66.
June 26 1008. June 28 1007.
Amite, Louisiana.-There has been rain on four days
Feet.
Feet.
Orleans
Above zero of gauge_
15.6
10.7
of the past week, the rainfall reaching one inch. The New
Memphis
Above zero of gauge_
27.2
29.0
Nashville
thermometer has averaged 80, ranging from 66 to 94.
Above zero of gauge_
9.1
7.6
Shreveport
Above zero of gauge_
13.3
31.0
New Orleans Louisiana.-Rain has fallen on two days Vicksburg
Above zero of gauge_
40.0
46.5
during the week, the rainfall reaching sixteen hundredths
INDIA COTTON MOVEMENT FROM ALL PORTS.of an inch. The thermometer has ranged from 74 to 92,
The receipts of cotton at Bombay and the shipment from all
averaging 83.
Shreveport, Louisiana.-The flood continues over much India ports for the week and for the season from Sept. 1 for
of the Red River Valley. Rain has fallen on two days of three years have been as follows:
the week, to the extent of ten hundredths of an inch. AverJune 25.
1905-06.
1906-07.
1907-08.
age thermometer 83, highest 94, lowest 73.
Columbus, Mississippi.-There has been rain on one day
Receipts atSince
Since
Since
Week. Sept. I. Week. Sept. 1. Week. Sept. 1.
during the past week, the precipitation reaching one inch.
The thermometer has averaged 80, the highest being 99 Bombay
23,000 1,916,000 50,000 2,889,000 12,000 2,502,000
and the lowest 61.
Meridian, Mississippi.-It has rained on two days of the
Since September 1.
For the Week.
week, the precipitation reaching thirty-two hundredths of
Exports froman inch. The thermometer has ranged from 62 to 94, averContiGreat
Great Continen .
Total. Britain.
Britain. nent.
aging 78.
7'otal.
--- ----- ----- ----Vicksburg, Mississippi.-There has been rain on one Bombay1907-08
27,000 580,000 697,000
day during the week, to the extent of thirty-four hundredths
10,000 10,000
1906-07 •
63,000 1,052,000 1,115,000
3-,000 19,000 22,000
of an inch. Lowest temperature 69, highest 93, average 81.
1905-06
55,000 705,000 850,000
1,000 7,000 8,000
Eldorado, Arkansas.-There has been no rain the past Calcutta1907-08
4,000
24,000
2,000
2,000
28,000
week. The thermometer has averaged 82, the highest be1906-07
7,000 117,000 124,000
3,000 3,000
ing 93 and the lowest 70.
1905-06
5,000 107,000 112,000
4,000 4,000
Madras
Fort Smith, Arkansas.-Rain has fallen on one day of the
1907-08
5,000
____
26,000
31,000
week, the precipitation reaching two hundredths of an inch. 1906-07_
23,000
5,000
____
28,000
1905-06
38,000
3,000
1,000
41,000
____
1,000
The thermometer has averaged 86, ranging from 72 to 90.
All othersHelena, Arkansas.-There has been no rain since the 14th
1907-08
18,000 226,000 244,000
1,000 23,000 24,000
1906-07
11,000 206,000 217,000
1,000
7,000
of the month. Crops look fine, but most of them are now
6,000
1905-06
16,000 150,000 166,000
5,000
5,000
---_
beginning to need rain. The thermometer has ranged from
-------- ------ ----- ------Total all65 to 93, averaging 82.
1907-08
54,000 856,000 910,000
1,000 35,000 16.000
Little Rock, Arkansas.-Weather favorable and cotton do1906-07
86,000 1,398,000 1,484,000
4,000 28,000 32,000
1905-06
ing fine. We have had rain on two days of the week, the
70,000 1,090,000 1,169,000
1.000 17,000 18,000
rainfall being • fifty-eight hundredths of an inch. Average
thermometer 81, highest 92,lowest 68.
MANCHESTER MARKET.-Our report received by
Nashville, Tennessee.-There has been rain on one day of cable to-night from Manchester states that the m arket
the past week, the rainfall reaching two hundredths of an is quiet for both yarns and shirtings. The demand
inch.. The thermometer has averaged 83, ranging from 68 India and China is poor. We give the prices forfor both
to-day
to 98.
below and leave those for previous weehs of this and last
•
Memphis, Tennessee.-Good progress has been made with year for comparison.
cultivation. Weather fine for cotton. We have had dry
weather all week. The thermometer has averaged 82.6,
1908.
1907.
the highest being 92.7 and the lowest 70.2831
lbs.
831 lbs. Shtrt- Corn
ShirtCorn
Mobile, Alabama.-The weather has been favorable in
328 Cop
lags, common Mid
32s Cop
tags, common Mkt
Twist.
the interior and the cotton crop is in good condition. Rain
So ftnest.
to linest.
Cyr.
U pre
has fallen on two days during the week, the rainfall reaching
d. s. d.
s. d. d.
s. d.
s.
d.
d.
seventy-six hundredths of an inch. The thermometer has May
15 831
0 9% 5 0 08
6.08
11 @100
6.96
ranged from 71 to 91, averaging 81.
22
9% 5 0 08
611 010 0
6.35
7.10
Montgomery, Alabama.--The crop outlook is satisfactory. 29 8 7-160 9%
5 1 08 1.34 6.52
70
@10i31 7.40
We have had showers on two days of the past week, the rain- J'ne
5 8%
5 1%08
7 1 (5103
6.51
7.44
fall reaching twelve hundredths of an inch. Average ther-' i2831 0 9%
9% 5 i31@8 3
6.58
7
7.19
010 2
10831
0 9% 5 1W48 3
6.70
011 010 2
mometer 83, highest 95, lowest 70.
7.04
0 9% 5 i31@8 3
26831
6.55
611
7.15
@102
Madison, Florida.-We have had rain on two days during
1599
THE CHRONICLE
JUNE 27 1908.J
The tone of the Liverpool market for spots and futures
WORLD'S SUPPLY AND TAKINGS OF COTTON.The following brief but comprehensive statement indicates each day of the past week and the daily closing prices of
at a glance the world's supply of cotton for the week and since spot cotton have been as follows:
Sept. 1, for the last two seasons, from all sources from which
Spot.
Saturday. Monday. Tuesday. Wednesday. Thursday. Fr(day. ,
statistics are obtainable, also the takings, or amount gone
•
out of sight, for the like period.
Market,
Cotton Takings.
Week and Season.
Week.
12:15
P.M.
1006-07.
1007-08.
Season.
1Veek.
Season.
-----3,768,595
2,845,285
Visible supply June 19
1,784,156
2,-2-9-1-,844
Visible supply Sept. 1
48,180 13,037,201
70,129 10,958,713
American Insight to June 26_ _ _
50,000 2,869,000
23,000 1,016,000
Bombay receipts to June 25_ _ _ _
369,000
10,000
303,000
26,000
Other India ship'ts to June 25_ _ _
914,100
950,000
3,000
Alexandria receipts to June 24.. _
354,000
15,000
230,000
9,000
_a
24
Other supply to June
Total supply
DeductVisible supply June 26
Total takings to June 26
Of which American
Of which other
2,976,414 16,649,557 3,891,775 19,327,457
2,712,701
2,712,702 3,608,703 3,608,793
263,711 13,936,855
174,711 10,557,855
89,000 3,379,000
282,982 15,718,664
201,982 11,667,564
81,000 4,051,100
Mid. Upi'ds
Sales - - _ - _
Spec.&exp.
Quiet..
Quiet.
Quiet.
6.65 .
4,000
300
Pr!ALEXANDRIA RECEIPTS AND SHIPMENTS OF
COTTON.-Through arrangements made with Messrs.
Choremi, Benachi & Co., of Liverpool and Alexandriq, we
now receive a weekly cable of the movements of cotton at
Alexandria, Egypt. The following are the receipts and
shipments for the past week and for the corresponding week
of the previous two years:
Alexandria, Egypt,
June 24.
Receipts (cantars)This week
' Since Sept. 1
Export (bales)._
To Liverpool
To Manchester
To Continent
To America
Total export's
.Note.-A cantar is 09 lbs.
1907-08.
1906-07.
1005-06.
22,000
7.123,745
400
6,855,879
2,000
5,870,674
This Since
week, Sept. 1.
This Since
This Since
week. Sept. 1. • week. Sept. 1.
3,250 22(1,123
6,0)0 2)2,215
1,75) 338,245
2,500 69,281
2,500 208,01)7
4,500 197,065
1,000 333,449
1,750 110,732
13,500 830,934
9,750 850,243
2,750 198,670
166,099
1,505 311,637
200 68,893
-4,450 743,200
Egytylan bales weigh about 750 lbs.
FIRST BALE OF NEW COTTON.-The first bale of
cotton of the new crop was received at Houston, Texas, on
June 19 from San Diego, Texas. Last year a bale of new
'cotton reached Houston on June 20, but it was not from the
year's planting, being grown from volunteer stalks. The
bale, therefore, 'could not be properly designated as new
cotton, and was consequently not indicative of the state of
forwardness of the crop in Southwest Texas. In 1906 the
first arrival was on July 6, and the earliest new bale heretofore received was in 1901, on June 22.
FALL RIVER MILL DIVIDENDS.-The statement of
dividends for the second quarter and half-year will be found
on page 156.
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 42,841 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Moderate
demand.
Quieter.
6.58
6.48
6.54
6.60
6.55
5,000
300
6,000
500
8,000
400
7;000
.300
4,000
200
Futures.
Quiet at
Quiet at
Market
2%03 pts. 2 points
opened
j decline.
decline.
I
Quiet at
Quiet at Steady at Quiet at
43 @i5 pts. 3 @)5 pts. 1% points 405 pts.
decline.
decline.
decline . decline.
Market
Barely sty. Barely sty. Steady at Steady at Barely sty. Steady
,
ypatt
s
4
at4ig8 pts. at6%@9% 3M@6 Pts• 234 (d)8% at3h pts. 2S
advance. to33.4 pts.ad decline.
P.M. j decline.
decline.
pts. dec.
The prices of futures at Liverpool for each day are given
below. Prices are onthe basis of uplands, good ordinary
clouse, unless otherwise stated.
The prices are given in pence and 100ths.
a Embraces receipts in Europe from Brazil, Smyrna, West Indies, dec.
More
demand.
Thus: 6 03 means 6 03-100d.
Thurs.
Fri.
Wed.
Sat.
Mon.
Tues.
June 20 -125i 123.4 123.1 4 1231 4 1231 4 123.1 4 1231 4
to
June 26. p.m p.m. p.m. p.m.,p.m. p.m. p.m, p.m. p.m. p.m. p.m. p.m.
.
June --------6
June-Juy _ ___ 5
July-Aug____ 5
Aug.-Sep- ____ 5
Sep -Oct-- ____ 5
5
Oct.-Nov,
Nov.-Dec. ____ 5
Dec.-Jan ____ 5
Jan.-Feb ____ 5
Feb.-Mch. ____ 5
Mch.-Apr. ____ 5
d.
03
9634
90
6434
35%
23
163,4
13
10
10
10
d.
d.
38A 95
)1 % 8834
85 82
59
55
31% 28%
20
163.4
1331 10
10 0634
)7 0354
17 (133,4
0354
)7
d.
58%
82
75%
6434
21%
11
9434
31
3854
383.4
'383.4
d.
91
8434
78
49
23
1254
96
)3
00
90
00
d.
d.
09%
34
90
35
78% 8334
473,4 52%
213426
1554
11
05 09
0154 0554
3834 0234
)834 0234
93
99
d.
34%
06
86%
55
26%
1634
10
9634
9334
9334
933.4
d.
d.
d.
98% 98%
31
9334 8834 8834
7934 7934
84
45
51
4434
19
19
23
1234 983.4 9834
72
06 92
023,4 9854 9834
9934 9534 9534
9954 9554 9534
9934 96
9534
EXPORTS OF BREADSTUFFS, PROVISIONS, C OTTON AND PETROLEUM.-The exports of these articles
during the month of May, and the eleven months, for the
past three years, have been as follows:
Exports
from
United Slates
Quantities.
Wheat__ bus
Flour_ _
1907-08.
May.
--
11 Months.
1906-07.
May.
11 Months.
5,111,184 95,371,545 6,025,119 71,093,90
883,141 12,930.015 1.492,440 14,026,94
1905-06.
May.
11 Months.
1,685,011 33,717,320
1,121.937 12.868,899
9,285,318 153,583,612 12,741,099 134,220,16 6.731.478 91,627,366
1,118,806 51,013,356 7,268,301 76,908,621 5.014,354 114,755,225
Total bush 10,904,124 204.596,968 20.009,400 211,128.783 11.745.832206,382.591
Wheat a- -b
bus
Corn
$
$
$
$
$
$
Values.
Wheat & flour 9,113,925 154,555,341 11,187,920 111,315,42, 5,941,168 82.362,587
905,498 34,837.000 9,387,350 42,590,84 2,964,607 61,880.349
Corn & meal..
809.662
114,791
117,028 2,536,48)•
102,968 1,216,666
Oats & meal _
_
212,700 4,252,791 1,179,716 16,599.691
118,631 2,896,123
Barley __
409,718 8,306,264
421,349
111,711 2.144,972 265,405
Rye
---Breadstuffs 10,352,733 195,650,102 16,170,403 161.116,885 10,605,000 169,953,553
Provisions
10,816,037 150,099,211 15,240,589 165,349,212 14,999,492 175,691,257
Cattle & hogs 1,942,423 27,617.537 3.349,686 31.156,422 3,765,842 37,484,995
Cotton
15,743,013 421,754.301 19,811,442468,988,051 16.531,005382.252,616
Petroleum,&c 9,328.153 89.009.975 5,670,784 71,750.344 6,217,663 73,588,208
Total value 47.682,359893,131.126 60,237,899898.360.916 32,119,002838,970,629
a Including flour reduced to bushels.
Note.-All the above figures are based on the montlhy preliminary returns issued
by the Bureau of Statistics, and cover about 97% of the total exports.
The aggregate exports from the United States of wheat
Total bales.
and wheat flour, expressed in bushels, for the eleven months
NEW YORK-To Liverpool-June 22-Georgic, 2,173.._ June 23
-Mauretania, 2_ _ _ _June 25-Arabic. 204 upland; -4-1 foreign_ 2,420 from July 1 to May 31 inclusive, have been as follows for
45(1 four
To Holl-June 19-Alecto,450
years:
111
To Havre-June 20-Chicago, 111
WHEAT EXPORTS FROM JULY 1 TO MAY 31.
TO Marseilles-June 23-Algeria, I-----'
250
1904-05.
1905-06.
1906-07.
To Bremen-June 19-Friedrich, 250
1907-08.
180 Wheat. bushels
4,382,417
To Hamburg-June 19-Pennsylvania, 189
95,371,545 71,098,905 33,717.320
3,508 Flour, reduced to bushels
To Genoa-June 19-Cretic, 1,030; Prinzess Irene, 2,478
58,212,067 63,121,257 57,910,040 36,816,817
680
To Naples-JUne 19-Cretic, 400; Prinzess Irene, 280
22
Total bushels
153,583.612 134.220.162 91.627.366 41.199.234
To Leghorn-June 23-Algeria 22
6,787
GALVESTON-To Havre-June 24-Gladiator, 6,787
JUTE BUTTS, BAGGINGS, &c.-The market for jute
NEW ORLEANS-To Liverpool-June 23-Comedian, 3,431_ _ _ _
10,431 bagging has continued dull the past week. Prices are unJune 25-Tampican,7,001)
1,672
To Havre-June 20-Mexico, 1,672
751 changed at 7 cents per yard for 2-lb. domestic bagging and
To Antwerp-June 24-Phidias, 751
950
To Barcelona-June 23-Puerto Rico,950
cents per yard for re-woven and inferior foreign. Jute
3,458 63
To Genoa-June 22-Citta di Palermo, 3,408
2@3 cents per lb. for bagging quality.
PENSACOLA-To Liverpool-Jun e25-E.0.Saltmarsh, 1,769 _ _ _ _ 1,769 butts also dull at
48
To Barcelona-June 22-Clara,48
3,806
3,806
25-Huttenwood,
SAVANNAH-To Liverpool-June
45')
To Hamburg-June 25-Cunaxa, 456
630
To Barcelona-June 10-Vincenzo Bonanno, 630
431
To Genoa-June 19-Vincenzo Bonanno, 431
Friday, June 20 1908.
800
To Trieste-June 19-Vincenzo Bonanno, 800
159
Prices for wheat flour have ruled easier during the week,
To Firme-June 19-Vincenzo Bonnanno, 159
795
795
BOSTON-To Liverpool-June 10-Winifredian,
trade. The de1,002 owing largely to continued stagnation of
BALTIMORE-To Liverpool-June 19-Vedamore, 1,002
600 pression, however, has been traceable in part to a reaction
To Bremen-June 23-Main,600
300
To Copenhagen-June 16-Texa8, 300
prices and favorable crop prospects in most sections
207 in wheat
PHILADELPHIA-To Genoa-June 19-Ancona, 297
77 of the country. At a few Western points a somewhat better
SEATTLE-To Japan-June 23-Tango Maru,77
BREADSTUFFS.
inquiry for flour has been reported of late, but at the chief
centres of trade the transactions have been on a very reLIVERPOOL.-By cable from Liverpool we have the stricted scale. Practically no foreign orders have been put
following statement of the week's sales, stocks, &c., at that through, though at Kansas City a small export business has
port:
been reported of late. Corn meal has been dull and easier.
June 10.
June 26. Rye flour has been in light demand and steady.
June 5.
June 12.
9,000
27,000
24,000
bales..
week
Sales of the
Wheat, though it advanced early in the wheat, has latOf which speculators tdok_ _ 1,000
300
1,000
terly reacted, especially on the near deliveries. The factors
Of which exporters took_ _ - - 1,000
8,000
23,000
20,000
' '
Sales, American
which contributed most to the early advance were reports of
9,000
5,000
5,000
Not
Actual export
60,000
30;000
damage to the crop in Kansas, Nebraska and Oklahoma. as
78,000
reForwarded ..
660,000
607,000
654,000
ceived
Total stock-Estimated
well as some other sections of the Southwest, bullish weekly
541,000
489,000.
Of which American-Est.. _ _536,000
statistics and reports of an increased demand for export.
25,000
33,000
39,000
Total import of the week
9,000
32,000
14,000
Of which American •
It is of interest to notice that the world's shipments last week
137,000
99.000
96,000
Amount afloat •
reached the comparatively small aggregate of 6,320,000
92,000
60,000
67,000
Of which American
Total
42,841
1600
THE CHRONICLE
bushels, against 8,480,000 in the previous week and 10,912,000 last year. Also, the quantity on passage and in the visible supply decreased last week 5,933,000 bushels. Bradstreet's visible supply figures made the decrease for the week
In the world's stock 7,085,000 bushels, against 3,995,000 for
the same week last year. Tnis means that the world's stock
has fallen to.85,900,000 bushels, which is 61,500,000 bushels
less than that of a year ago. Figures like these have undoubtedly led to considerable buying at times, especially as
the receipts at the West have been light and the threshing
returns have not been uniformly favorable, while Russian
crop reports have been on the whole of an adverse character.
Nevertheless, prices, as we have seen, have latterly receded,
especially on the near months. This reaction is traceable
largely to favorable weather for some days past, affording
better conditions for harvesting, and also to improved crop
accounts. Other depressing factors, however, have been
very heavy liquidation in July, the rather lukewarm foreign markets, the dulness of the flour trade and the fact that,
as a rule, export demand has been in abeyance. There remains another factor, moreover, which has militated noticeably against the price, and that is the persistent selling
for short account by some large interests at the West. The
popular impression that there is a concentrated short interest,principally in September,at the West of some 10,000,000 to 15,000,000 bushels may be an exaggeration, but the
belief is widespread that leading operators accustomed to
take the aggressive have latterly sold short on a considerable
scale. The argument of bears is that the crop is turning out
well in this country, that the world will have enough wheat
and to.spare, and that prices are, therefore, too high. Today• prices opened firm on better cables than expected and
covering of shorts, but reacted later on favorable weather,
improving crop reports, dulness of the cash trade and liquidation.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
3
963% 95% 95%
96
953% 953%
943% 943%
94% 053% 943% 05
923% 923% 923% 93
92
923%
WHEAT FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri
July delivery In elevator
863% 863% 853% 86
853% o43%
September delivery In elevator__ _ 853% 853% 853% 863% 853% 85
December delivery In elevator
863% 863% 863% 873% 863% 86%
No. 2 red winter
July delivery In elevator
Serlember delivery In elevator_ _ _ _
DAILY CLOSING PRICES OF
[VOL. Lxxxvi.
The statement of the movement of breadstufft to market as
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since Aug. 1 for each of the last three years have been:
Receipts at-
Flour.
Wheat.
Corn.
Barley.
Oats.
Rye.
bbls.1061bs. bush.60 lbs. bush. 56 lbs. bush. 32 lbs. bush.481bs. bu. 56 lbs..
Chicago - - -135,974
93,600 2,848,236 1,475,368
17,000
277,200
Milwaukee- 51,275
124,000
88,800
22,500.
49,000
163,200
Duluth - - -50,000
170,558
729
28,798
Minneapolis_
1,250,540
14,280,
48,450
65,360
193,090
Toledo 54,500
1,0)0
116,400
34,500
Detroit_ - --4,200
103,737
147,528
36,353
Cleveland - 938
54,000
120,448
1,164
66,221
St. Louis-- _
28,430
84,614
457,600
1,135.
15,600
302,400
Peoria _-_-_
2,550
6,000
278,400
4,000,
263,000
10,000
Kansas City
98,707
8,800
21,000
Tot.wk.'08
273,367 2,040,256 4,074,862 2,583,930
60,644
458,124
Same wk.'07
386,500 2,853,139 6,481,902 2,685,:361
70,370
409,861
Same wk.'06
374,093 1,720,632 5,152,187 3.720,774
54,716
726,286
Since Aug. 1
1907-0816,535,536 200,090,723 108,753,421 172,309,156 50,089,591 6,389,164
1906-07_ _ _ 19.013,209 223,791,017 199.040,432 186,262,607 64,973,252 592,450,
1905-06_ __ 18,560,354 211,606,761 175,821,743 207,778,863 73,262,651 7,430,494
Total receipts of flour and grain at the seaboard ports for
the week ended June 20 1908 follow:
Flour,
Wheat,
Corn,
Oats, Barley,
Rye,
Receipts idbbls.
bush.
bush.
bush.
bush.
bush.
New York
125,748
261,400
75,250
496,800 32;400
3,90(}
Boston
22,258
7,805
16,010
65,675
2,850
-- -Portland, Me
1,393
84,195
Philadelphia - -- 54,739
69,548
45,661
84.303
1,000
Baltimore
33,547
124,314
62,485
33,475
---2,423
Richmond _ _ _ _
2,462
24,902
36,624
16,402
---New Orleans*- - - 12,180
97,500
111,000
- -Newport News- -Norfolk
2,500
- ---Galveston
9,000
Mobile
4,425
10,708
Montreal
21,305
760,849
136,006 116,36 - - - - •
-Total week_ - - -- 280.557 1.342,013
344,328
943,661 152,649
7,741
Week 1907
333,981 1,578.289 1,380,652 1,145,944 63,032 224,578
Since Jan. 1 1908-- 8,322,295 35,179,869 26,483,721 19,732,407 2575,335 1255,353
Since Jan. 1 1907- -9,374,076 41,285,558 55,993,607 26,803,713 2607,578 1200,893
* Receipts do not Include grain passing through New Orleans for foreign ports
on through bills of lading.
The exports from the several seaboard ports for the week
Indian corn futures, under the influence of favorable
weather over most sections and improving crop prospects, ending June 20 1908 are shown in the annexed statement:
Wheat,
Corn, Flour,
have shown a reactionary tendency of late. Liquidation in
Oats,
Rye, Peas, Barley.
Exports frombush,
bush.
bbls.
bush.
bush.
bush.
bush.
July has also been a depressing influence. Moreover, cash New York
268,357
21,989 50,475
12,409
1,233
Portland,
Me--- 84,195
interests have sold rather freely at times and there has been Boston
1,393
1,489
78,056
6,961
scattered liquidation through commission houses. There Pulladelphia - 112,000
3,045 '55,226
8,078
268,484
has also been selling for short account, encouraged by the Ba;timore
530 11.924
30 8,568
New Orleans489 28,205
105
brighter crop situation. The cash market has been dull and Gilveston
1,010
heavy. Yet country operators have bought rather freely MObile
10,798 4,425
Montreal
1,421,763
8,571 23,560
66,121
7.575
3,600
at times, the crop.is still backward and some who have sold Norfolk
2,500
the near months have bought the distant positions. The
-Total
week_
-2,232,855
45,422 185,679
16,234 16,646 66,121 10,298
receipts, too, are relatively small and stocks are light. To- Week 1007
1.771,727 901,850 203,442 534,838
64,879 4,1395
day prices declined on good weather, favorable crop advices,
The destination of these exports for the week and since
dulness of the cash trade and scattered selling.
July 1 1907 is as below:
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
Cash corn
77
773% 77
763% 793% 7,13%
July delivery In elevator
78
783% 783% 783% 783% 78
September delivery in elevator_
_ 77
76
76% 763% 763% 76
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
SO. Mon. Tues. Wed. Thurs. Fri.
July delivery In elevator
693% 693% 693% 68% 68% 673%
September delivery in elevator_ __ _ 693% 70
693% 693% 083% 68 %
December delivery In elevator
59
593% 58% 583% 583% 58%
--Flour
Wheal
Corn
Since
Since
Sthce
Week
July 1
Week
July 1
July 1
Week
J'ne20.
1907. June 20.
1907. June 20.
1007.
Since July 1 toNils.
bbls.
bush.
bush,
bush.
bush.
United Kiugdom_ - - 71,858 6,320,444 1,277,368 61,289,595
8,571 20,938,146
Continent
78,511 2,500,551 953,237 49,502,722
15,399 23,279,119
So. & Cent. America 13,047 746,191
2,250
401,747
1.189
200;507
West Indies
_ 22.161 1,344,538
19,607
1,389,639
19,237
Brit. No. Am.Cols_
80.056
78,881
Other countries- - - 102 282,758
02,1172
1,026
31,884
Total
185,679 11,274,538 2,232,855 111,306,643
45,422 45,923,676
Total 1906-07
203,442 11.176,256 1,771,727 91.382,238 091,850 73,361,783
Oats for future delivery in the Western market have
moved mainly in sympathy with the fluctuations in other
cereals. The favorable weather of late and the improved
crop reports have been depressing factors. Cash interests,
Thd world's shipments of wheat and corn for the week
too, have sold rather freely at times and there has been
considerable liquidation in the near months. The cash ending June 20 1908 and since July 1 in 1907-08 and 1906-07
trade has been dull. The belief is quite general that the are shown in the following:
crop will be very large. But there has been good buying at
times by well-known interests in the trade. Some who have
Corn.
Wheat.
sold July have made purchases of December. The receipts
Exports.
1907-08,
1907-08.
1906-07.
1906-07.
have been small. To-day prices were easier on favorable
weather and crop reports, liquidation and selling by cash
Week
Stnee
Since
Week
Since
Since
June 20. July 1.
July 1.
July 1. June 20. July 1.
interests.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri
No. 2 Mixed
54-55 54-55 54-55 54-55 54-55 54-55
White, clipped, 32 to 34 lbs. 59-61 59-61 50-61 59-61 59-61 50-61
DAILY CLOSING PRICES OF OATS IN CHICAGO.
Sitt. Mon. Tues. IVed. Thttrs. Fri.
July dellvdry In elevator
443-4 433%
443-4 44% • 435% 44
September delivery in elevator_ _ _ _ 383% 393% 38% 393% 38% 383%
May delivery In el, vator
. 41% 41 *g 41 % 42% 413% 41 3%
The following are closing quotations:
FLOUR.
$3 50®$3 7.1 Kansas Straights
$4:50 ® $4 60
2 8J® 2 9:) Blended cleats
5 09 ® 5 10
3 95® 4 20 Blended patents
4 80 ® 6 20
4 75
5 15 Rye flotir
4 40 ® 5 00
5 20® 6 35 Buckwheat flour
Nominal.
4 25 ®
Graham flour
Nominal.
_ _ _ _ Corn meal
4 33
3 50
GRAIN.
Wheat, per bush.Corn (new), per bush.e.
C.
N. Dulh, No. 1
1123%
No. 2 mixed
f.o.b. 761
N. Duluth, No. 2
107
No. 2 yellow
Nominal.
Red winter, No. 2
f.o.b. 953%
No. 2 white
Nominal.
"
Hard "
100% Rye, per bush.Oats, per bush.No. 2 Western
f.o.b. 843%
Natural white
573%@60
State and Jersey
Nominal.
54 ®55
No. 2 mixed
Barley-Malting
Nominal.
Natural white, clipped_ 59 @61
Feeding
Nominal.
Low grades
Second clears
Clears
Straights
Patent, spring
Patent, winter
Kansas patents
Bushels.
Bushels. Bushels.
Bushels.
North Amer. 2,707,000 197,979,000 162,290,000
32,000
Russian ___ 1,112.000 63.616,000 91,800,000 357,000
Danubian __ 112,000 26,891.000 69,896.000 136.000
Argentine __ 2,336,000 119,023,000 103,240,000 2,422,000
Australian- - 128.000 16,268,000 20,912,000
0th .co6ntr's 152,000 24,716,000 31,200,000
Bushels.
45,382,000
26,286,000
48,466,000
63,104,000
Bushels.
68,984,000
20,055,000,
32,840,000
83,443,000,
--Total - - - 6,547.000 448,493,000 479,338,000 2,047,000 183,328,000 205,322,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheat.
UnUed
Kingdom. Continent.
Bushels.
June 20 1908_ _ 19,600,000
June 13 1908- - 22,560,000
June 22 1907- - 24,240,000
Corn.
Total.
Bushels, Bushels.
13.920,000 33,520,000
14,640,000 37,200,000
17.920,000 42.160,000
United
Kingdom. Continent,
Bushels.
6,205,000
7,735,000
6,060,000
Bushels.
9,945,000
10,115,000
10.080,000
Total.
Bushels.
16,150,000
17,850,000
17,040,000
The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
seaboard ports June 20 1908, was as follows:
1601
THE CHRONICLE
JUNE 27 1908.1
Barley,
bush
97,000
been sold at concessions and transactions have been moderate. The new feature in the Chinese demand during the
week has been the much greater variety of goods called for,
practically all weights of drills and sheetings having been in5,000
cluded in the sales, in addition to jeans, flannels, &c. While
68,000
heavy, it is understood that
73,000
175,000 export sales have been
787,000
2,000
746,000
127,000 some low prices have been named in order to attract the
375,000
1,126,000
24,000
123,000
106,000
169,000
2,000
business. Some of the better known lines of bleached goods
119,000
17,000
166,000
12,000
have been advanced Ysc. during the week, and these have
1,284,000
3,651,000
1,504,000
105,000
170,000 been so freely
198,000
28,000
41,000
purchased ahead that a scarcity later in the
1.258,000
year is within the bounds of possibility; the low counts,
1,144.000
82,000
138,000 generally speaking, have not done so well. Wide sheetings,
2,062,000
2,000
8.000
121,000
474,000
2,813,000
17,000
79,000
74,000
14,000 sheets and pillow cases have been in moderate demand at
239,000
1,000
33,000
679,000
15,000
unchanged prices. Linings have been quiet. Some good
52,000
5,000
173,000
orders have been received for staple prints and ginghams,
89,000
30,000
100,000
941,000
338,000
258,000
22,000
the price of the former, particularly, being considered low.
71,000
434,000
8,000'
Sales of print cloths have been light, and prices are slightly
2,809,000
4,433,000
212,000 1,195,000 lower than a week ago, offerings of wide regulars having been
Total June 20 1008.-16,965,000
1,360,000
1908.-18,624,000
2,818.000
5,402,000
224,000
Total June 13
722,000 made at 43'c.
6,947.000
8,489,000
562,000
Total June 22 1907.-47,009,000
872,000
WOOLEN GOODS.-While duplicate ordering of men's
4,692,000
6,805,000 1,448,000
Total June 23 1906.-26,909,000
873,000
1905.-15,388,000
2,908.000 6,850,000
837,000
Total June 24
wear heavy-weight woolen and worsted goods has not been
GOVERNMENT WEEKLY WEATHER REPORT.- quite so heavy as in the recent past, it has continued on a
Mr. James Berry, Chief of the Climatological Division of moderate scale and several mills are in a more satisfactory
the United States Weather Bureau, made public on Tuesday position, as far as fall goods are concerned, than they were
the telegraphic reports on the weather in the various States a week ago. It is those manufacturers who are not so favorably situated on heavy-weights who are now urging forward
for the week ending June 22, summarizing them as follows:
A marked feature of the week ending June 22 1908 was the unseasonably the new season's openings, and while the majority of agents
cool weather over the greater part of the Rocky Mountain, Plateau and
are holding these back until after the holiday, it is underPacific coast regions, with frosts in portions of Washington, Montana and
Arizona. It was also very cool during the fore part of the week generally stood that a fair volume of business has already been done.
throughout the central valleys and eastward to and Including the Atlantic As usual, serges are among the first
lines to make their
coast districts, frosts being reported from portions of Illinois and Ohio.
Otherwise, the temperature conditions were generally favorable. The re- appearance and have met with a good demand. There are
do
not
show
any
extensive
area,
week
rainfall.
of
excessive
the
of
ports
further indications that resist dyes will be more prominent
Rains were heavy over limited portions of Iowa, South Dakota, Nebraska,
Kansas and Missouri, and heavy showers at the close of the week broke during the spring season than they were during the fall seaOhio.
conditions
In
Practically
no
rain
fell
In
the
districts son, arrangements having been made in many instances to
the drought
from the lower Ohio Valley southward to central Mississippi and Alabama,
and moisture is now needed In Alabama, southern Illinois and Indiana,and show augmented lines. The question of prices on the new
Carolina.
Pennsylvania and New England. With the .spring goods is attracting a good deal of attention, and it is
portions of North
exception of severe local storms in portions of Ohio, Wisconsin and Minnesota, which caused some damage in the last-named State, the week was now believed that the reductions will not be as important as
comparatively free from storms of this character. While there was much seemed likely a little while ago, and will not amount to more
•cloudiness in the north Pacific coast States and portions of ne upper Mississippi Valley, elsewhere generally throughout the country there was abun- than 5% on staples and three-quarter goods, and not as
•dant sunshine.
much as this on strictly all-wool goods of the better sort.
The dress goods market has been seasonably dull, and no improvement in business is expected until next month. There
THE DRY GODS TRADE.
is a small amount of business passing all the time, but it is
New York, Friday Night, June 26 1908.
Jobbers' semi-annual clearance sales brought a large widely distributed, and is not particularly noticeable in any
number of buyers into the dry goods district during the one direction.
FOREIGN DRY GOODS.-Imported woolen and worlatter part of the week, and business at second hands was
on a quite active scale. Some very attractive offerings were sted goods for fall are just as quiet as domestic fabrics. The
made which retailers were not slow to take advantage of, irregularity of the raw silk market is having an adverse effect
and on the whole the sales may be described as successful, upon the sales of piece goods. Ribbons are quiet. There is
although the action of buyers clearly indicated that they were an improved demand for linens. Burlaps are firmer and
looking for bargains. In the primary market the week has rather more active.
been quiet, and this condition is likely to continue until Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals o dry goods
after the stock-taking period and until next week's holiday is
over. The lighter demand for goods and the sharp decline in at this port for the weed ending June 13 1908 and since
the price of cotton have resulted in concessions being granted Jan. 11908, and for the corresponding periods of last year,
in certain instances, but prices generally have held Ateady, are as follows: w
:and in the case of some lines of bleached goods have been
'57.1cno,•-it;
advanced 3ic. The position of manufacturers is not alto- 0 M0
2 07
6%9.5.
Wc5
.8
gether a pleasant one, for they are not only experiencing l2. a. a
0
,
e2
a
great difficulty in purchasing suitable grades of cotton at ., , 8
8
reasonable prices, but they claim that on the present basis 0 0
R
g oi:1, g
of prices of cotton and goods there is an actual loss in manu- .
facture. Apart from this, the. irregularity of the cotton
I
5
market during the week has led to fears that there may be a
09
'51
.
still further decline in the price of the staple, and for this
g
reason there is no disposition to manufacture goods for stock.
The principle of curtailing production to actual orders is,
SO
co
b
0
therefore, being very freely adopted in the South. A favor- SO WW 0
S.
co ND
7:1
so
0044.0
1
1 I
095- .4
WW04.0
able development during the week has been a material in- oo 0.4
MO
C
)
.
oo
0.W.A.00
.4 CD CD Co 0
co I
.4 ,
40
crease in the demand for goods from China, resulting in sales
0+
N,
estimated in some quarters as high as 15,000 bales; in addi- 0+
04W
NSO
CO
.1
Co co
CO
C4 0.4 co 00
tion to this the general demand from miscellaneous countries V, 00 544-CA
GA CO 55
CO
CO
4+ 4+ Om
0414 0
has been good, and the outlook for an improvement in export CO
1
00,10.•
-.
005SIN
OD
V.
00
t
,.3
CA cm 4. c: Co
-t1 8
CO
business generally is considered bright. Duplicate ordering to CO. CO 04.000
Co Aa OD co 4.
0
,of' inen's wear heavy-weight woolen and worsted goods has C. 0.
04
OW
A 0.
N
00.w.
been somewhat smaller and dress goods have continued quiet. Co
CD
c00
CON
MOWWW
004...400
4.0W4..0
405
;,CO
CA IA
'
C. "
DOMESTIC COTTON GOODS.-The exports of cotton 00
0.4
C4 CD .4 4. 0,4
Co
COCO
CO
4J
00
000,1
(T, 41;
goods from this port for the week ending. June 20 were 5,995 04 wW C. 00 00.4
.3
packages, valued at $396,220, their destination being to the Co
00
NO
a I .0* NNUON
points specified in the table below:
00
Go
.
0
.
00140
Wheat,
bush.
716,000
253,000
424,000
95,000
Oats,
bush.
487,000
12,000
85,000
90,000
85,000
Corn,
bush.
80,000
8,000
2,000
129,000
60,000
Rye,
bush.
14,000
p02331.113111 11120j,
New York
Boston
Philadelphia
Baltimore
New Orleans
'Galveston
Montreal
Buffalo
'Toledo
Detroit
Chicago
Milwaukee _
Fort William
Port Arthur
Duluth
Minneapolis
St. Louis
•
Kansas City
Peoria
Indianapolis
.0n Lakes
'Oil Canal and River- - ..
27
-
356
519
541
5,995
881
7,385
112,882
9,277
89,348
29
93
1,628
727
3,002.
4. C4
04
1.0
0009
NW
SO
C4
'
a
co
C.
1,267
7,556
23,769
15,775
00
C.
U.
4a'Co C.
C4 Co CO
CO
to
.
1,1.00"
citaa.taw
.NA.444
uv
.01
GOV,.
140
00
00
0000w
.0
wo
"g I
Pq
oo
.0.100
no
-SIC'
C'S.
-4 4+
GO
0.
'co
CO
CO
CO
N.
'Co
ON
1;
00
w.
CO 00
Cl'
CO
0
.
V
V
*CO
SO
W
0
.
-ro
04
'a SO
c-4
scci
M
rale,
CO
OW
C.
00
1.9 1.•
00.400
0,004.0V
0
10
Co
a.
4.
C•41
Go CO
"
.40
0.04
NN
98,580
The value of these New York exports since Jan. 1 has been
'$5,776,200 in 1908, against $6,421,627 in 1907.
Heavy brown drills and sheetings are occasionally Nc.
ower where goods have been allowed to accumulate, and as
buyers are not willing to place orders with any amount of
freedom for near-by delivery and manufacturers refuse to
contract ahead at current prices, business has naturally
been light. Medium and light-weight sheetings have also
-4
4.
0
-
0
-Co
C4
CO
4. CA
140
Co CA
CD 0.
ea o
.
4 CO
I
0. 14 C. co U.
c0 .4 IN, Ca to
CO Oo 0 14 OD
C.0 C4
,.
C. N
C) 0+ CA co
.4 CA G4 4.
.umvu
.c.000w
cou00-44..,04.
.
c
00014 ea
.
4
.•
NW4...10)
?
(1IsIV 8061 I
Total
-----1907-----
Since
Since
Week. Jan. 1.
Week. Jan. 1,
37
423
n
1,072
491
13
38
643
1,024
14,182_
10,043
5,010
500
150
4,715
2,176
17,217
-__
18,753
3,725 •
359
3,609
10,875
443
11,378
LC9 I W 06
-----1906-----
New York to June 204Great Britain
Other European
China
India
Arabia
Africa
West Indies
Mexico
'Central America
South America
Other countrIeS
IA
.
GO 14 *CA
OCIWOW
.
4W0006.;:cO
0
-4
0A4.000
,...4w00
004000
.4404
.10.O.WO
.1
M
0
C.
Zg
co co
cD C4 0 4+ GA
.
0
CA CA 0+
0 CA 0. 0
,CA
a
;
1602
STATE AVIII
THE CHRONICLE
[Vol, Lxxxvi.
The above amount of bonds is based on the engineer's
and the city reserves the right to reduce the issues.
CITY DEI)IbinDTENT. estimate
using as a basis the contractors' bids. Denomination $500,
Date Aug. 11908. Interest semi-annually at the City Treasurer's office. Bid to be made on blank form furnished by
New York State.-Sale of Canal Bonds by State Sinking the City Auditor and be accompanied by a certified check
Fund.-See item under head of "Bond Proposals and Nego- for 5% of bonds bid for, drawn on a national or State bank
and made payable to the City Treasurer. Purchaser to
tiations."
Hamilton County (P. 0. Noblesville), Ind.-Litigation.- furnish blank bonds at his own expense.
Ashland, Ashland County, Ohio.---Bond Sale.-On June 22
Proceedings have been commenced to enjoin the County
Commissioners from selling bonds for improvement of all the the $7,800 Cottage Street and the $2,000 West Eighth Street
roads under contract in Washington Township. The injunc- 5% coupon improvement bonds described in V..86, p. 1544,
tion is asked for by S. M: Smith, who contends that if the were awarded to the First National Bank and,the Farmers'
roads are built at the expense of the township the indebted- Bank, both of Ashland. The price paid for the former issue
was $8,265, while the latter issued was disposed of for
ness will exceed the constitutional limit of 2%.
Purchaser to pay accrued interest. Maturity one
Muskingum County (P. 0. Zanesville), Ohio.-Bond Suit $2,109.
bond of each issue every six months from March 1 1909 to
Decided by Supreme Court.-The following regarding a de- Sept.
1 1918 inclusive.
cision of the State Supreme Court in a suit brought to recover
Ashtabula County (P.0. Jefferson), Ohio.-Bond Offering.
the difference between the market price and the price paid
for the $55,500 funding bonds last mentioned in V. 80, p. -Local papers state that proposals will be received until
July 6 for $20,000 43i% macadam-road bonds.
128, is taken from the 'Zanesville Courier" of June 10:
Athens, Athens County, Ohio.-Bond Sale.-On June 22
Through the untiring efforts of Hon. Charles U. Shryock, the Cincinnati
Trust Co. will be compelled to return to the county treasury the sum of the $1,900 Congress
Street and the $5,790 Lancaster Street
$4,400 with interest from December 1904, which sum represents the difference between the market price of $55,000 county bonds and the price paid 5% coupon improvement assessment bonds, described in
company.
trust
the
by
county
the
V. 86, p. 1544, were awarded to the Security Savings Bank &
The Supreme Court decided the case Tuesday, affirming the Circuit
Court's decision against the Cincinnati Trust Co., but reversing it with Trust Co. of Toledo for $7,845 (102.015 and accruedinterest).
regard to P. S. Briggs & Co. of Cincinnati, with which company the Com- A bid of $7,819 85 was also
received from the New First
missioners' journal shows that the contract was made.
In many respects the case was an unusual one. First the County Com- National Bank of Columbus. The Congress Street bonds
missioners sold 4 %% 20-year bonds at par when their market value at the mature $190 yearly on Sept. 1 from
1909 to 1918 inclusive
time was 110 A. C. M. Ludman, as a taxpayer, brought suit to restrain and
the Lancaster Street bonds mature $579 yearly on
the deal, but nothing was ever done in his case and Mr. Shryock had to
become a party defendant In the action in order to prosecute the case.
Sept. 1 from 1909 to 1918 inclusive.
In October 1904 Ludman brought suit in Common Pleas Court to restrain
Attleborough, Bristol County, Mass.-Temporary Loan.the deal, the title of the case being The State of Ohio ex rd. C. M. Ludman,
a taxpayer, vs. John H. Crooks, et al. County Auditor Brelsford, who A loan of $30,000
maturing in four months was negotiated
was a aparty defendant, got out of the case early in Its history.
The next day after the Ludman suit was flied, C. U. Shryock brought a on June 22 with Loring, Tolman & Tupper of Boston at
similar action in the case. This was done for fear that the Ludman suit 3.23% discount.
might not have the effect generally expected by the public. Shryock's
petition was heard by Judge E. M. Kennedy, who held that the bonds should
Ballinger, Runnels County, Tex.-Bond Sale.-The issue
have been advertised and sold to the highest bidder, and he granted a of $20,000 5%
20-40-year (optional) street bonds, proposals
temporary injunction. On the heels of this action came a protest from
for
which were asked until June 8 (V. 86, p. 1356), was
the Cincinnati Trust Co., and the Shryock case was dismissed on the ground
that the Ludman suit took precedence. The transfer of the bonds was recently awarded to
the State School Fund at par and interest.
then made, the Ludman case not being pressed, and soon after this transfer
the Commissioners also negotiated with the Cincinnati Trust Co. to secure
Bartlett, Williamson County,Tex.-Bond Sale.-The State
funds to liquidate a debt of $20,000. Bonds in this sum were also transSchool Fund recently purchased $15,000 4% 15-40-year
ferred at par, but this deal has not yet been questioned in court.
In January 1905 the Cincinnati Trust Co. advertised the Muskingum (optional) school-house bonds at par and accrued interest.
County bonds for sale, the price being 110M. About this time Mr. Ludman
Bartlesville School District (P. 0. Bartlesville), Washingasked to be allowed to withdraw from the suit and at the same time Mr.
Shryock asked to be permitted to become a party defendant, Both re- ton County, Okla.-Bond
Sale.-On June 22 the $190,000
quests were granted by Judge Frazier, but the case was still carried on in
5%
20-year school bonds, bids for which were received on
the name of Ludman.
Judge' Mackey heard the case in 1906 and decided that since the bonds June 20, were awarded to
John Nuveen & Co. of Chicago.
had passed into the hands of Innocent third parties, the county had no
A description of these securities was given.in V. 86, p. 1481.
relief.
This did not discourage Mr. Shryock. Next the case came on to be heard
Belton, Anderson County, S. 0.-Bond 0fiering.-Proby the Circuit Court at the spring term in 1007. This court held that the
whole transaction by which the Cincinnati Trust Co. acquired the bonds posals will be received until 12 m. July 1 by H. G. Campbell,
was illegal and is sued in order that the bonds either be returned to the Clerk of
Council, for $12,500 school-building and $12,500
County Treasurer for cancellation or that P. S. Briggs & Co. and the Cincinnati Trust Co. pay to the county the sum of $4,400 and interest from the water-works-plant-construction coupon bonds. Denominadate of the bond deal, the $4,400 as above stated being the difference be- tion $500.
Date July 11908. Interest (rate not to exceed
tween the market value of the bonds and the price paid by the trust com6%)to be named in bid, payable semi-annually at the Hanpany.
The Cincinnati Trust Co. appealed the case to the Supreme Court and over'
National Bank in New York City. Maturity forty
Tuesday the Court affirmed the ilndinT of the Circuit Court with reference
years, subject to call after twenty years. The school-buildto the Cincinnati Trust Co., but relieved P. S. Briggs & Co. from liability.
ing bonds, which are exempt from taxation, were voted at
Bond Proposals and Negotiations this week the election held May 12 1908.
Bennettsville, Marlborough County, S. 0.-Bond Sale.have bean as follows:
The $35,000 water and the $25,000 sewer 20-40-year
Abbeville, Abbeville County, S. C.-Bond Ofiering.-Pro- tional) bonds offered but not awarded on April 15 (V. (op86, p.
posals will be received until July 1 for $25,000 5% coupon 1053), have been sold. The former issue was purchased
by
electric-light-plant-construction blonds. Denomination $500. Albert Kleybolte & Co. of Cincinnati at 96 for 5s, while the
Date July 1 1908. Interest semi-annual. Maturity July 1 latter was purchased by the First National Bank of Cleve1948, subject to call after July 1 1928. Certified check for land at par for 6s.
$500 is required. James Chalmers is City Treasurer.
Benson, Neb.-Bond Offering.-Proposals will be received
Adena School District (P. 0. Adena), Jefferson County,
Rejected.-The Board of Education rejected all until July 3 by Ed. A. Steiger, City Clerk, for $8,000 5%
bids received on June 19 for the $17,500 4% school-building water-extension bonds. Denomination $500. Date June 1
bonds, a description of which was given in this department 1908. Interest semi-annual. Maturity 20 years, subject "to
call after 10 years.
last week.
Albion, Neb.-Bonds Voted.-At an election held June 4,
Berkeley, Cal.-Proposed Commission Form of Government
414 voters were in favor of issuing $6,000 5% 10-20-year -An election will be held in the near future for the purpose
(optional) bonds, while only 91 were against it. We are of voting on a city charter which provides for a new form
advised that these bonds will be offered for sale shortly.
of government by a commission of five members, one of
Alcorn County (P. 0. Corinth), Miss.-Bids Rejected.- which will be known as the Mayor. The charter is said to
Bond'Ofiering.-All bids received on June 2 for the $10,000 be modeled after those of the cities•of Des Moines, Iowa and
5% 5-20-year (optional) coupon gravel-road bonds, described Galveston, Tex. •
.
in V. 86, p. 1356, were rejected. We are advised that the
Alameda County, Cal.-Bond
School
Berkeley
District,
Board of County Supervisors has decided to omit the 5-year
fering.-Proposals will be received until 11. a. in. June 29
option on these bonds and to re-offer them as straight 20year securities, proposals for which will be received until by the Board of Supervisors, John P. Cook, ex-officio Clerk
(P. 0. Oakland), for the following bonds voted on May 19:
July 2.
1-40-year (serial) gold bonds for completing the auditorium
Alliance,Stark County, Ohio.-Bond Offerings.-Proposals $50,000 4 % of
the new Polytechnic High School and furnishing necessary
will be received until 12 m. July 3 by Charles 0. Silver, City
equipment for the same. Denominations: forty bonds of
$1,000
each and forty bonds of $250 each.
Auditor, for $7,000 432% sub-fire-station bonds. Denomi- 200,000 43% 1-40-year
(serial) gold grammar-school-improvement bonds.
nation $500. Date July 15 1908. Interest semi-annual.
Denomination $1,000.
Maturity July 15 1923. Certified check on a national or
Interest semi-annual. Certified check or cash deposit of
State bank for 5% of the amount of bonds bid for, payable 2% of bid, payable to the Chairman Board of County Superto the City Treasurer, is required. Purchaser to furnish visors, is required. J. V. Mendenhall is Clerk Board of
blank bonds at his own expense. Bids to be made out on Educdtion. Official circular states that there is no controblank forms furnished by the City Auditor.
versy pending or threatened affecting the corporate existProposals will also be received until 12 m. July 10 by ence, the boundaries of the district, its present officials to
Silver,
City
following
Auditor, for the
Charles 0.
bonds:
their respective offices, or the validity of these bonds.
$17,000 5% street improvement assessment bonds. Maturing on Aug. 1
as follows: $5,500 in each of the years 1909 and 1010 and
Beverly, Mass.-Temporary Loan.-This city has borrowed
$6,000 in 1911.
2,500 434% improvement (city's portion) bonds maturing Aug. 1 1926. $100,000 from the First National Bank of Boston at 3.39%
9,000 5% street-improvement assessment bonds maturing $1,800 yearly discount. Loan is dated June 22 1908 and matures Dec. 10
on Aug. 1 from 1909 to 1913 inclusive.
31,00 43% improvement (city's portion) bondslmaturing Aug. 1 1929. 1908.
News Items.
JUNE 27 1908.1
THE CHRONICLE
Bloomingburg School District (P. 0. Bloomingburg),
Fayette County, Ohio.-Bond Sale.-On June 13 the $15,000
43% school-building-improvement bonds described in V.86,
p. 1481, were sold to the Washington Savings Bank & Trust
Co. of Washington C. H. Maturity $500 each six months
from March 1 1910 to Sept. 1 1924 inclusive.
Boise City Independent School District (P. 0. Boise City),
Ada County, Idaho.-Bond Offering.-Proposals will be received until 10 a. m. June 30 by L. M. Beal, District Clerk,
for $75,000 5% gold coupon high-school-building-improvement bonds. Denomination $500. Date July 1 1908.
Interest semi-annually in Boise City or New York City:
Bonds are tax-exempt. Maturity July 1 1928, Subject to
call after July 1 1918. Certified check for 5% of bonds bid
for, payable to the Independent School District of Boise City,
is required.
Bradford, Miami County, Ohio.-Bond Sale.-On June 22
the $2,700 5% coupon street-improvement bonds described
in V. 86, p. 1545, were awarded to N. Iddings and J. Tinkler
of Bradford at 101.851 and accrued interest. Following are
the other bids received:
Security Say. Bank ec Tr.
New First National Bank,
$2,725 001 Columbus
•
Co., Toledo
$2,701 50
Maturity $300 each six months from March 1 1909 to
March 1 1913 inclusive.
Bradley Beach, N. J..-Bond Offering.-Proposals will be
received until 8 p. m. June 29 by Albert T. Rogers, Mayor,
for $15,000 municipal-building and fire-house bonds. Certified cheek for 25% of bonds bid for is required.
Bristow, Creek County, Okla.-Bond Election.-An election will be held, we are advised, on June 29, to vote on a
question of issuing school bonds.
Butler, Pa.-Bond Sale.-This city has disposed of its
issue of $16,000 4% bonds to local investors. Denomination
$1,000. TA]
411
Cadiz, Harrison County, Ohio.-Bond Sale.-On June. 22
9% coupon street-paving bonds described in
the $10,500 43/
V. 86. p. 1545, were awarded to Seasongood & Mayer of
Cincinnati at 102.83 and accrued interest. Following are the
bids:
Seasongood & Mayer, Cin.$10,797 151Dayt.Sav.& Tr.Co.,Dayt.$10,657 00
Hayden,Millerec Co.,Clev. 10,737 501New First Nat.Bk.,Colum. 10,626 00
Well, Roth & Co., Cin__ _ 10,713 001Hoehler & Cummings,Tol. 10,612 50
Cleve. Tr. Co., Cleveland_ 10,705 50'First Nat.13k., Cincinnati. 10,609 20
West.-Ger.Bk., Cincinnati 10,702 1301Sec.Sav.Bk & Tr.Co.,Tol. 10,580 00
Breed & Harrison, Cln __ _ 10,696 85 W. R. Todd & Co., Cm... 10,555 00
Otls .3e Hough, Cleveland_ 10,675 00 B. B. Johnson, Cadiz (tor
$1,000 bonds)
1,005 00
Dennison & Farnsworth,
Cleveland and Boston_ 10,664 001
Maturity $500 each six months from March 1 1912 to
March 1 1922 inclusive.
Caldwell, Noble County, Ohio.-Bond 0 fering.-Proposals
will be received until 12 in. to-day (June 27) by Hugh F. Neuhart, Village Clerk, for $3,500 5% coupon light-plant-improvement bonds. Authority Section 2835, Revised Statutes.
Denomination $500. Date May 11908. Interest annually
on •Oct. 1 at the Citizens' National Bank in Caldwell. Maturity $1,000 on Oct. 1 in 1909, 1910 and 1911 and $500 on
Oct. 1 in 1912. Bonds are exempt from all taxation. Certified check for $100, payable to the Village Treasurer, is required. Accrued interest to be paid by purchaser.
California.-Bond Offering.-Further details are at hand
relative to the offering on July 2 of the $500,000 4% gold
coupon San Francisco sea-wall bonds, mentioned in V. 86,
p. 1357. These bonds will be offered at public auction at
2 p. m. on that day by W. R. Williams, State Treasurer,
at Sacramento. Authority, Chapter 211, Statutes of 1903.
Denomination $1,000. Date Jan. 2 1905. Interest semiannually at the State Treasurer's office in Sacramento.
Maturity Jan. 2 1924, subject to call after Jan. 2 1914.
Bonds are exempt from all taxes. These securities are part
of the issue of $2,000,000 4% sea-wall bonds voted on Nov.8
1904 (V. 79, p. 747), $250,009 of which were disposed of,
as already reported by us on March 8 1906.
Canal Winchester School District (P. 0. Canal Winchester), Franklin County, Ohio.-Bond 0yering.-Proposals will
be received until 12 m. July 1 by W. M. Codner, Clerk Board
of Education, for $25,000 5% high-school-building bonds.
Authority Sections 3991, 3992 and 3993, Revised Statutes.
Denomination $500. Date July 1 1908. Interest semiannually at the County Treasurer's office. Maturity $1,000
on July 1 1909 and $1,500 yearly on July 1 from 1910 to
1925 inclusive. Certified check on a • trust company or a
national bank for 1% of bonds bid for, made payable to the
Clerk Board of Education, is required. These bonds were
offered without success as 45 (V. 86, p. 1177) on May 2.
Carlisle, Cumberland County, Pa.-Bond Election.-An
election will be held June 27, it is stated, to vote on the
question of issuing $60,000 sewer-improvement bonds.
Chagrin Falls, Ohio.-Bond Offering.-Proposals will be
received until 12 m.to-day (June 27) by H. D. Bishop,Village
Clerk, for $2,000 5% coupon bonds to purchase a site for
a sewage-disposal plant. Denomination $200. Date
April 1 1908. Interest semi-annually at the office of the
Chagrin Falls Banking Co. in Chagrin Falls. Maturity
$200 each six months from April 1 1909 to Oct. 1 1913 inclusive. Bid must be made on printed form furnished by
the Village Clerk and accompanied by a certified check on
a bank of Cuyahoza County for 3% of bonds bid for, made
payable to the Village Treasurer.
1603
Charleston, S. O.-Bonds Awarded in Part.-Of the $1,000,000 4% 30-year coupon refunding bonds described in
V. 86, p. 1481, about $500,000 were disposed of on June 17
at prices ranging from par to 100.20.
Chatfield Township, Crawford County, Ohio.-Bond Offering.-Proposals will be received until 12 m. June 29 by S. T.
Clady, Township Clerk (P. 0. Chatfield), for $10,000 5%
road-improvement bonds. Denomination $500. Date June
15 1908. Interest March 1 and Sept. 1. Maturity $1,000
on March 1 and $2,000 on Sept. 1 in each of the years 1909,
1910 and 1911 and $1,000 on March 1 1912. Certified check
or cash for $100, payable to the Township Treasurer, is
required. Purchaser to pay accrued interest.
Chatham, Pittsylvania County, Va.-Bond Sale.-We are
advised that $3,000 5% school-building bonds were awarded
on March 12 to Mrs. M. L. Petty at par. Denomination
$500. Date Sept. 11906. Interest semi-annual. Maturity
1936, subject to call after 1916.
Chehalis, Wash.-Bond Election.-An election will be
held June 30 to determine whether or not $176,000 bonds
shall be issued for the construction of a gravity water system.
Chicago, Ill.-Bond Sale. -On June 25 $1,000,000 4%
gold improvement bonds were sold to the Harris Trust &
"Savings Bank, the Merchants' Loan & Trust Co., the Illinois
Trust & Savings Bank and the First Trust & Savings Bank,
all of Chicago, at par and accrued interest, less a commission
of $4,700. The only other bid was made jointly by E. H.
Rollins & Son, A. B. Leach & Co., American Trust & Savings
Bank and the National City Bank, all of Chicago, at par and
interest, less a commission of $9,500. These securities are
part of an issue of $2,500,000 authorized by the Finance Committee on June 19. Denomination $1,000. Date July 1
1908. Interest semi-annually at the Illinois Trust & Savings Bank of Chicago. Maturity $56,000 yearly on Jan. 1
from 1911 to 1927 inclusive and $48,000 on Jan. 1 1928.
Bonds will be delivered about July 15 1908.
Chippewa Falls, Chippewa County, Wis.-No Action Yet
Taken.-Up to June 5 no action had yet been taken looking
towards the issuance of the bridge bonds voted on April 7,
as stated in V. 86, p. 1113.
Cincinnati, Ohio.-Bond Sale.-On June 25 the $600,000
4% 30-50-year (optional) coupon refunding Southern Ry.
bonds described in V. 86, p. 1357, were awarded to Weil,
Roth & Co. of Cincinnati for $616,031-the price thus being
102.671.
Clayton School District No. 8 (P. 0. Clayton), Jefferson
County, N. Y.-Bond Offering.-Proposals will be received
until 11 a. m. to-day (June 27) by S. H. Johnson Clerk
Board of Education,for $32,000 4%% school-building'
bonds.
Denomination $1,000. Date July 1 1908. Interest annually at the First National Bank in Clayton in New York
exchange. Maturity $1,000 yearly on Nov. 1 from 1908 to
1939 inclusive. Certified check for 10% of the bonds bid
for, payable to the Board of Education, is required. Accrued
interest to be paid by purchaser.
Columbus, Ohio.-Bond Sale.-Of the eleven issues of 4%
bonds aggregating $452,000, described in V. 86, p. 1482,
the following were awarded on June 19 to a syndicate
composed of Hayden, Miller & Co., Cleveland; Provident
Savings Bank & Trust Co., Cincinnati; German National
Bank, Cincinnati; Denison & Farnsworth, Cleveland and
Boston; and Breed & Harrison of Cincinnati:
$100,000 water-purifying bonds for $100,605; 1150.000 refunding water
works bonds for $150,067 and accrued interest; $50,000 Public Improvement No. 12 bonds for 150,127 50; $50,000 Public Improvement No. 13
bonds for $50,302; 122,000 Wilson Avenue bonds for $22,132; $11,000
Wager Street bonds for 111.067: $11,000 Spring Street bonds for $11,068;
$12.000 Reinhard Avenue bonds for 11 2.074.
•
The Davies-Bertram Co. of Cincinnati was awarded the
following:
$15,000 Germania Street bonds for $14,902 and interest; $10,000 Park
Avenue bonds for $9,935 and interest and $21,000 Front Street bonds
for 120,921 50 and interest.
Bids were also received from Seasongood & Mayer, Western
German Bank and Weil, Roth & Co., all of Cincinnati and
Otis & Hough of Cleveland. These securities are not
'new
issues but bonds which had been held by the Sinking Fund
as an investment.
Congerville School District No. 115 (P. 0. Congerville),
Woodford County, Ill.-Bonds Not Sold.-On June 18 this
district offered without success an issue of $5,600 bonds.
Copan School District No. 4 (P. 0. Copan), Washington
County, Okla.-Bond Sale.-John Nuveen & Co. of Chicago
have purchased $30,000 51/.% 20-year bonds dated July 1
1908.
Cornelia, Habersham County, Ga.-Bond Offering.-Proposals will be received until 4 p.m. June 30 by J. W. Peyton,
Mayor, for the $10,000 5% 30-year municipal school-house
bonds mentioned in V. 86, p. 1545. Authority, vote of
53 "for" to 2 "against", cast at election held Oct. 18 1907.
Denomination $1,000. Date June 30 1908. Interest semiannually in Jan. and July at a place designated by purchaser.
Bonds are exempt from taxation. The City Clerk states that
there is no litigation pending or threatening affecting the
validity of these bonds and that there has never been any
default in the payment of any of the city's obligations.
Cottonwood, Idaho County, Idaho.-Bond Election.-We
are informed that an election will be held June 30 to vote
upon propositions to issue $5,000 street and $2,000 park
bonds, interest rate not to exceed 5%. Bonds to mature
in twenty years, subject to call after ten years.
1604
THE CHRONICLE
Craighead County (P. 0. Jonesboro), Ark.-Bond Sale.An issue of $15,500 6% 1-10-year (serial) Drainaae District
No.2 bonds was sold on June 12 at par. Denomination $500.
Date Jan. 1 1908. Interest annually in August.
Orawfordville, Taliafferro County, Ga.-Bond Election.According to the daily papers the question of issuing $10,000
school-building bonds will be voted upon June 30.
Cumberland, Allegany County, Md.-Bond Sale.--Reports
state that $100,000 5% 5-20-year (optional) refunding bonds
were recently disposed of as follows: $68,000 to Baker,
Watts & Co. and Hambleton & Co., both of Baltimore, at
101.83; $15,000 to C. Zimmerman of Cumberland at 102;
$12,000 to Lefevre & Edwards of Cumberland at 103.50; and
$5,000 to the Third National Bank of Cumberland at 104.
Dallas, Tex.-Bond Offering.-On June 18 the City Commission unanimously adopted a resolution presented by the
Commissioner of Finance and Revenue recommending that
proposals be received until 3 p. m. July 6 by the City Secretary for $430,000 water-works and $50,000 street-improvement bonds. These securities are the unsold portion of the
issues of $500,000 water-works and the $100,000 streetimprovement 4% gold coupon bonds mentioned in V. 86,
p. 496.
Danville and Buckeye City (Village) School District
(P. 0. Danville), Knox County, Ohio.-Bond Offering.W. M. Riley, Clerk Board of Education, will offer at public
auction at 2 p. m. June 29 $20,000 5% coupon building
bonds. Authority Sections 3991, 3992 and 3993 Revised
Statutes. Denomination $400. Date July 11908. Interest March 1 and Sept. 1 at the District Treasurer's office.
Maturity $400 each six months from March 1 1909 to Sept. 1
1933 inclusive. Bonds are exempt from taxation. Total
debt, this issue. Assessed valuation 1907, $256,000.
Darke County (P. 0. Greenville), Ohio.-Bond Offering.
-Proposals will be received until 12 in. July 3 by Frank
Snyder, County Auditor, for $75,000 43'% ditch bonds.
Authority Section 4482, Bates Annotated Ohio Statutes.
Denomination $500. Date July 3 1908. Interest semiannually at the County Treasurer's office. Maturity on
July 3 as follows: $25,000 in 1909; $20,000 in 1910; $15,000
in 1911, and $7,500 in each of the years 1912 and 1913.
Bid must be unconditional and accompanied by an unconditional certified check (or cash) for $500, drawn on a bank
in Darke County and made payable to the Board of County
Commissioners.
Davidson, Sask.-Debenture Sale.-The $5,000 6% coupon fire-protection debentures offered on June 6 (V. 86, p.
1357) have been awarded to the Ontario Securities Co. of
Toronto at 96. Maturity part yearly for twenty years.
Denver, Colo.-Montclair Park District.-Bond Sale.-A bid at par and accrued interest submitted on June 18 by
the Equitable Life Assurance Association of the United
States was the only proposal, and the successful one received
for the $335,700 6% coupon park bonds described in V. 86,
p. 1482.
Des Plaines, Cook County, Ill.-Bond Sale.-On June 16
this village sold $4,000 5% general-improvement bonds, proposals for which were asked until June 8, to Miss H. Bennett
and Mr. Palmer, both of Des Plaines, and J. Melzer of Glenville at par. Denomination $500. Date March 1 1908.
Interest semi-annually in June and Dec. Maturity 1916,
subject to call at any time.
Detroit, Mich.-Bond Offering.-Proposals will be received until 2 p. m. July 14 by the Board of Water Comcoupon water-works-construcmissioners, for $250,000 3
tion bonds. Denomination $1,000. Date Aug. 1 1908.
semi-annually
at the current official bank in New
Interest
York City. Maturity Aug. 11938. Bonds are exempt from
all taxation. Certified check for one-half of 1% of the bid,
payable to the "Board of Water Commissioners of the City
of Detroit," is required. Official circular states that there
has never been any default in any of the city's obligations.
Benj. F. Guiney is Secretary of the Board of Water Commissioners.
Dorchester County (P. 0. Cambridge), Md.-Bond Offering.-Proposals will be received until 12 in. June 30 by the
School Board; Wm. P. Beckwith, Secretary and Treasurer;
for $9,000 5% coupon high-school-building bonds. Authority Chapter 80, Acts of the General Assembly, passed at
the January Session of 1908. Denominations $100 and $900.
Date July 1 1908. Interest semi-annually in Cambridge.
Maturity part yearly from one to ten years inclusive.
Douglas County (P. 0. Superior), Wis.-Bond Award.On June 19 the $75,000 4
1-20-year (serial) gold coupon
insane-asylum-completion bonds, bids for which were received on June 15 (V. 86, p. 1545), were awarded to Seasongood & Mayer of Cincinnati at 102.83-a basis of about
4.166%. Following are the bids:
Seasongood &Mayer,Cin_ *$77,122 50 I Commercial Investment
I Co., Duluth
First Trust & Savings
• '77,100 001E. H. Rollins .33 Sons,875.780 00
Bank, Chicago
C. H. Coffin, Chicago.__ 76,001 001 Chicago
I Emery, Anderson & Co:75
Harris Trust & Savings
'
082 50
'75,083 00 I Cleveland
Bank, Chicago
'76,51700
'And accrued interest.
Dover Township School District, Cuyahoga County, Ohio.
-Bond Offering.-Proposals will be received until 12 m. today (June 27).by S. A. Phinney, Clerk Board of-Education
(P.0. West Dover),for $14,000 4.M% coupon buildingbonds
WoL. Lxxxvi.
Authority Sections 22b, 3991 and 3992, Revised Statutes.
Denomination $1,000. Date day of sale. Interest April 1
and Oct. 1 at the Rocky River Savings & Banking Co. in
Rocky River Village. Maturity $1,000 yearly on Oct. 1
from 1909 to 1922 inclusive. Certified check for 10% of the
amount bid, payable to the Treasurer, is required. Purchaser to pay accrued interest.
East Orange, N. J.-New Charter Adopted.-By a vote of
987 to 499 this city on June 2 adopted a new charter, which
is said to enlarge the powers of the Mayor and provide commissions to take charge of the various departtnents.
East Point, Fulton County, Ga.-Bond Election.-Atlanta
papers of June 17 state that an election will be held here
within the next thirty days to vote on the question of issuing
$85,000 bonds for the establishment of water-works, a sewerage system and an electric-light plant.
Eldon School District (P. 0: Eldon), Mo.-Bond Sale.An issue of $6,000 4% 5-20-year (optional) school-buildingaddition bonds was sold on June 20 to the Bank of Eldon at
par. Denomination $500. Date July 1 1908. Interest
semi-annual.
El Paso, Tex.-Bond Offering.-Proposals will be received
until 5 p. in. July 1 by Jos. V. Sweeney, Mayor, for the
following bonds,which were authorized at the election held
April 25 (V. 86, p. 1358):
*200,000 5%
100,000 5%
100,000 5%
50,000 5%
50,000 5%
10-40-year (optional) paving bonds.
20-40-year (optional) school bonds.
20-40-year (optional) street and alley grading bonds.
20-40-year (optional) sewer-dislisal bonds.
20-40-year (optional) garbage-disposal bonds.
Denomination $1,000. Interest semi-annually at the
Chemical National Bank in New York City. Certified
check for 1% of bonds bid for, payable to the Mayor, is
required.
Erie County (P. 0. Buffalo), N. Y.-Bonds Awarded in
Part.-Of the $325,000 4% gold registered good-road bonds
described in V. 86, p. 1546, $120,000 were disposed of on
June 22 at par and accrued interest as follows: $110,000 to
the Erie County Savings Bank of Buffalo and $10,000 to the
National Limber Insurance Co. of Buffalo.
Fredericksburg, Louisa County, Va.-Bond Sale.-We are
informed under date of June 20 that this city recently disposed of an issue of $15,000 4% school bonds at par.
Freehold School District (P. 0. Freehold), Monmouth
County, N. J.-Bond Offering.-Proposals will be received
until 8 p. in. July 14 by William A. Barkaloi,v, District Clerk,
for $28,000 4M% coupon bonds. Denomination $1,000.
Date July, 1 1908. Interest semi-annually at the First
National Bank in Freehold. Maturity $1,000 yearly on
July 1 from 1918 to 1945 inclusive. Bonds are exempt from
all taxation. Bids to be made on blank forms furnished by
the district and accompanied by.a, certified check for 2% of
bid, payable to the Board of Education. These bonds have
been certified to as to their genuineness by the United States
Mortgage & Trust Co. of New York City. Accrued interest
to be paid by purchaser. Bonds to be delivered Aug. 1.
Fulton, N. Y.-Bond Offering.-Proposals will be received
until 8 p. in. July 1 by 0. S. Bogardus, City Chamberlain,
for $10,000 4% registered bonds for enlarging the State
Street School building. Authority election held Nov. 5
1907. Denomination $1,000. Date July 11908. Interest
semi-annually at the City Chamberlain's office. Maturity
$1,000 yearly on July 1 from .1923 to 1932 inclusive. Bid to
be made on printed form furnished by the City Chamberlain and accompanied by a certified check for $1,000, drawn
on an incorporated State or national bank of New York State
and made payable to the City Chamberlain. Delivery of
bonds July 2 1908. Accrued interest to be paid by purchaser.
Gogebic County (P. 0. Bessemer), Mich,.-Bond Offering.
-Proposals will be received until 12 in. June 29 by A. D.
Johnston, County Clerk, for $25,000 4% bonds for the erection of a county poorhouse. Authority vote cast at an
election held Sept. 17 1907. Denomination to suit purchaser. Date Oct. 11907. Interest semi-annually at the
First National Bank in Bessemer. Maturity $5,000 yearly
on Oct. 1 from 1910 to 1914 inclusive. Purchaser to pay
accrued interest, also the cost of printing the bonds.
Bonded debt at present, $10,000. Assessed valuation 1907,
$10,727,470.
Great Falls, Cascade County, Mont.-Bond Offering.Further details are at hand relative to the offering on June 29
of the $100,000 432% coupon refunding water-works bonds
mentioned in V. 86, p. 1424. W. P. Wren, City Clerk, will
offer these bonds at public auction at 10 a. m. on that day.
Denomination $1,000. Date July 1 1908. Interest semiannually at the City Treasurer's office or, at the option of
the holder, at some bank in New York City. Maturity July 1
1928, subject to call after July 11918. Certified check on a
bank in Great Falls for $1,000, payable to the City Treasurer,
is required.
Guelph, Ont.-Debenture Sale.-On Juno 23 the 1125,000
5% 30-year water-works debentures offered on June 20 (V.
86, p. 1483) were awarded to Wood, Gundy & Co. of Toronto.
Harriman, Roane County,Tenn.-Bonds Not Sold.-Under
date of June 19 the City Clerk informs us that no sale has
yet been made of the $10,000 5% 20-year gold coupon
refunding water and light bonds offered on June 9 and
described in V. 86, p. 1424.
JUNE 27 1908.j
---Hawkesbury, Ont.-Debenture Offering.-Proposals will
be received until 7 p. In. July 2 by D. Doyle, Town Clerk, for
$6,000 6% street-improvement debentures maturing in
twenty years.
Hebron School District (P. 0. Hebron), Thayer County,
Neb.-Bond Offering.-Proposals will be received until
July 1 by W. M. Hill, Secretary, for $16,000 5% schoolbuilding bonds. Interest semi-annual.
Highland Park, Mich.-Bond Offering.-Proposals will be
received until 7:30 p. m. July 5 (this date falls on Sunday,
but is so given by the Village Clerk) by R. M. Ford, Village
Clerk, for $10,000 4Y% water-extension bonds. Interest
annual. Maturity twenty years.
Hiram,Portage County, Ohio.-Bond Offering.-Proposals
will be received until 12 m. July 18 by Edwin L. Hall,
Village Clerk, for $5,000 5% sidewalk-construction assessment bonds. Denomination $200. Date May 11908. Interest semi-annually at the Village Treasurer's office. Maturity part yearly on May 1 from 1910 to 1919 inclusive.
Certified check for $200, payable to the Village Treasurer, is
required. Accrued interest to be paid by purchaser.
Hochelaga School Corporation, Que.-Debentures Not
Sold.-We are advised that no sale was made on June 23
of the $80,000 43'% 30-year coupon school-building debentures described in V. 86, p. 1546.
Hood River Irrigation District (P.0. Hood River), Wasco
County, Ore.-Bonds Not Sold.-We are advised under date
of June 17 that no satisfactory bids were received on May 30
for the $40,000 6% coupon irrigation-system-completion
bonds described in V. 86, p. 1359.
Humboldt Public School District No. 1529, Sask.-Debenture Sale.-The $5,000 6% school debentures, proposals for
which were askecl until May 31 (V. 86, p. 1359), have been
awarded to CrTdit Foncier of Regina at 100. Maturity
part yearly for ten years.
• '
Hundred, Wetzel County, W. Va.-Bond Offering.-Proposals will be received until 12 m. Aug. 1 by S. J. Cole,
Town Recorder,for $8,000 5% water-works and sewer bonds.
Authority Chapter 141 Acts of 1872-73, and Chapter 51,
Acts of 1905. Denomination $100. Date Aug. 1 1908.
Interest annual. Maturity Aug. 1 1938.
Huron County (P. 0. Norwalk), Ohio.-Bond Sale.On June 5 $18,000 5% highway and bridge bonds were
awarded to W. J. Hayes dr Sons of Cleveland for $18,112the price thus being 100.622. Denomination $500. Date
June 1 1908. Interest March 1 and Sept. 1. Maturity
$2,500 each six months beginning March 1 1909.
Idaho Irrigation District (P. 0. Idaho Falls), Bingham
County, Idaho.-Bonds Not Sold.-We are advised that no
sale has yet been made of the $330,000 6% coupon bonds
described in V. 86, p. 1178.
Indiana.-Bond Sale.-On May 28 $80,000 bonds to improve the State Fair Grounds were awarded to the MeyerKiser Bank of Indianapolis at 101.145. Denomination
$500. Date April 10 1908. Interest semi-annual. Maturity part each six months from Oct. 10 1909 to April 10
1917 inclusive.
4:121
Ironton School District (P. 0. Ironton), Lawrence
County, Ohio.-Bond Sale.-On June 23 the First National
Bank of Ironton was awarded the $10,000 4% 20-year coupon
school-building bonds described in V. 86, p. 1546, at 100.75
and accrued interest-a basis of about 3.946%.
The following bids were received:
First. Nat. Bk. Ironton_ _$10,075 001Seasongood 8: Mayer, Cin
' Bk.,Cin, 10,060 501Fifth-Third Nat. 13k., Cin
Brighton-German
Well, Roth & Co., Cin_ _ 10,050 751
a Less $75 for expenses. b Less $90 for expenses.
a par
b par
All bidders offered accrued interest in addition to their bids.
Jackson, Hinds County, Miss.-Bond Offering.-Proposals
will be received by A. P. Lusk, City Clerk, for $196,000 5%
water-works and sewer-system extension bonds. Denomination $1,000. Date Aug. 11908. Interest semi-annually at
the City Treasurer's office or at the National Park Bank in
New York City. Maturity Aug. 11928. Bonds are exempt
from taxation. Certified check for 1% of bid, payable to
the City Clerk, is required. Official circular states that there
is no litigation or controversy pending or threatening which
affects the validity of these bonds. It also states that there
has never been any default in the payment of any of the
city's obligations.
';:•4
Johnston, R. I.-Bonds Authorized.-The7Town Council
on June 19 authorized a special committee to:arrange for the
sale of $85,000 .bonds.
--AA AVIA
Jones County (P. 0. Anson), Texas.-Bond Election.An election, we are advised, will be held June 30 to vote
upon a question of issuing $100,000 5% 5-40-year (optional)
court-house-construction bonds. Interest annual. "fi A
Jordan School District (P. 0. Sandy), Salt Lake County,
Utah.-Bond 011ering.-Proposals will be received by N.
Thompson, District Clerk, for $40,000 OA% gold coupon
school-building bonds. Denomination $1,000. Date July 1
1908. Interest semi-annually at place designated by purchaser. Maturity July 1 1928, subject to call after July 1
1918. Certified check for 5%,payable to the "Jordan School
District" is required. Bonds are tax-exempt. •A • •14t:ii
JiillaStia, Latah County, Idaho.-Bonds Not Sold.-We
are advised that no sale was made on June 15 of an issue of
1605
THE CHRONICLE
$7,000 bonds. Denomination $1,000, Date July 1 1908
Interest (rate not to exceed 6%) payable semi-annually.
Kerman School District (P. 0. Kerman), Fresno County,
Cal.-Bond Sale.-This district on June 12 disposed of
$12,000 6% bonds at 104.27 to Adams dr Co. Authority,
vote of 16 to 2 at election held May 23. Maturity one bond
yearly.
Kincardine, Ont.-Debenture Offering.-Proposals will be
received up to and including June 30 by John H. Scougall,
Town Clerk, for $8,500 5% coupon debentures for the improvement of and an addition to the Central Public School
building. Denomination $500. Date January 1908. Interest semi-annually at the Merchants' Bank of Canada in
Kincardine. Maturity twenty years.
King County School District No. 30, Wash.-Bond Sale.On June 8 the $5,000 5-year school-house bonds dated July 1
1908 and described in V. 86, p. 1425, were sold to the State
of Washington at par for 5s. This was the only offer received.
La Crosse County (P. 0. La Crosse), Wis.-Bond Sale.On June 20 the $50,000 5-10-year (optional) coupon bonds
for the building and equipment of a "County School of
Agriculture and Domestic Economy," were awarded to
H. T. Holtz Sr Co. of Chicago at 102.011 for 4s. Following are the bids:
H.T.Holtz&Co.,Chicagolb$51.005 75
fa 52,i3575
Emery, Anderson & Co.1 a49,500 00
b50,757 00
Cleveland
c5I,757 00
Mason, Lewis dc Co., b50,455 00
c51,430 00
Chicago
Trowbridge & Niver Co. 550,387 65
c51,425 00
Chicago
Seasongood, Mayer &,
c51,583 00
Cincinnati
Batavlan National Bk.,
c51,512 00
La Crosse
Merchants' Loan & Tr.
c51,51000
Co., Chicago
E. H. Rollins & Sons.
'c$51.46000
Chicago
MacDonald, McCoy &
Co., Chicago
c51,455 00
Devitt, Tremble & Co.,
Chicago
c51,445 50
Otis & Hough, Clevleand c51,155 00
Rudolph Kleybolte Co.,
Inc., Chicago
c51,130 00
Harris Trust & Savgs.
Bank, Chicago
c51,050 50
S. A. Kean, Chicago__ c50,825 00
F. E. McGraw, St. Paul_ c
par.
a for 4s,
b for 44s. c for 5s.
See V. 86, p. 1483 for a description of these bonds.
Ladysmith, B. O.-Debenture Offering.-Further details
are at hand relative to the offering on June 30 of the $25,000
5% coupon electric-light debentures mentioned in V. 86, p.
1425. Proposals will be received until 5 p. m. on that day
by John Stewart, Clerk Municipal Council. Denominations
$100. Date May 12 1908. Interest semi-annually at Ladysmith. Maturity twenty-five years, subject to call after
five years. Debentures are exempt from all Provincial
taxes. . The:city has no debt at present.]
Lakewood, Cuyahoga County, Ohio.-Bond
Proposals will be received until 12 m. June 29 by B. M. Cook,
Village Clerk, for the following bonds:
$6,692 50 5% Winchester A7enue see er-eunstr iPtion ass:..ssmtnt bonds.
Denomination $669 25. Maturity $669 25 yearly on Oct. 1
from 1909 to 1918 inclusive.
3,924 00 5% Lakewood Avenue sewer-construction assessment bonds.
Denomination $392 40. Maturity $392 40 yearly on Oct. 1
from 1909 to 1918 inclusive.
3,5730015% Granger Street water assessment bonds. Denomination
$1,191. "'Maturity $1,191 on Oct. 1 in each of the years
1909, 1910 and 1911.
3.438 005 %1Warren Road water-main assessment bonds. Denomination
$1,146. Maturity $1,146 on Oct. 1 in each of the years
1909, 1910 and 1911.
3,222 00 5% Warren Road sewer-construction assessment bonds. Denomination $322 20. Maturity $322 20 yearly on Oct. 1
from 1909 to 1918 inclusive.
nstruction assessment bonds. De3,074 00 5% Detroit Street sewer-e,
nomination 3307 40. Maturity $307 40 yearly on Oct. 1
from 1909 to 1018 inclusive.
The above issues are dated July 1 1908. Interest April
1 and Oct. 1 at the Cleveland Trust Co. in Cleveland. Certified check for 5% of the Amount of the bid is required.
Official circular states that there is no question as to the
validity of these bonds and that this village has never defaulted in the payment of any of its obligations.
Bonds Defeated.-The $40,000 fire-department bonds mentioned in V. 86, p. 1425, were defeated by a vote of 172 "for"
to 167 "against, at the election held June 16. A two-thirds
majority was necessary to authorize the issue.
Leola, McPherson County, S. D.-Bond Election.-An
election will be held June 29, it is stated, to vote on the
question of issuing $7,000 .school-building _bonds.
Lester Prairie, McLeod County, Minn.-Bond Offering.Proposals will be received until 7:30 p. m. July 3 by N. A.
Peterson, Village Recorder, for $3,000 6% 1-6-year (serial)
gas-plant bonds. Denomination $500.
Lewisburg, Union County, Pa.-Bond Offering.-Further
details are at hand relative to the offering of the $20,000 4%
coupon improvement and refunding bonds, mentioned in
V. 86, p. 1547. Proposals for these bonds will be received
until 10 a. m. to-day (June 27) by Albert W. Johnson,
Borough Solicitor. Denominations: $100, $200, $300 and
$500. Date July 1 1908. Interest semi-annually at the
Borough Treasurer's office. Maturity July 1 1938, subject
to call part yearly after July 1 1910. Bonds are exemptfrom
all taxation. Certified check for 10%, payable to the
Borough Treasurer, is required. Assessed valuation, $1,348,876.
Lima, Allen County, Ohio.-Bond Offering.-Proposals
will be received until 12 m. June 29 by Fred C. Beam, City
Auditor, for $80,000 4 2% coupon electric-light-works
construction bonds. Authority Sections 2835, 2836 and
2837 Revised Statutes. Denomination $1,000. Date May 1
1908. Interest March 1 and Sept. 1 at the office of the
Sinking Fund Trustees. Maturity $2,000 each six months
from March 1 1911 to Sept. 1 1930 inclusive. Certified
check for 2% of bonds bid for,drawnon any Lima bank, or
-•
•
1606
THE CHRONICLE
on any national bank outside of Lima, and made payable
to the City Treasurer, is required. Bonds will be ready for
delivery on June 29. The validity of these bonds has been
approved by Peck, Schaffer & Peck, Attorneys of Cincinnati,
a copy of whose opinion will be delivered to purchaser.
Official circular states there is no litigation threatened or
pendina affecting the legality of this issue of bonds.
Bond° Sale.-We are advised that Otis & Hough
of Cleveland purchased the $9,000 South Metcalf Street
and the $15,000 East Second Street 5% coupon paving bonds
described in V. 86, p. 1425, on June 24 for $24,843-the
price thus being 103.512. Maturity one-tenth of each issue
yearly on March 1 from 1909 to 1918 inclusive.
Following is a list of the bids received:
Otis & Hough, Cleveland
Lima Trust Co., Lima
First National Bank, Cleveland
Denison & Farnsworth, Cleveland
*W.It. Todd & Co., Cincinnati
Well, Roth & Co., Cincinnati
Hayden, Miller & Co., Cleveland
Security Savings Bank & Trust Co., Toledo
Seasongood & Mayer, Cincinnati
Hoehler & Cummings, Toledo
New First National Bank, Columbus
Dayton Savings Bank & Trust Co., Dayton
• Bid said to have been Irregular.
$15,000
Bonds.
$15,526 88
15,503 50
15,498 14
15,477 50
15,475 00
15,472 50
15,450 00
15,440 00
15,432 02
15,421 50
15,343 50
15,337 50
$9,000
Bonds.
$9,316,12
9,300 50
9,298 86
9,286 25
9,275 00
9,283 50
9,270 00
9,265 00
9,259 23
9,252 50
9,206 50
9,200 00
Lxxxvi.
Bond & Mortgage Co. of St. Louis. Denomination $500.
Interest semi-annually in Jan. and July.
Modale School District (P.0. Modale),Iowa.-Bond Sale.
-An issue of $6,000 6% 5-10-year (optional) school-building
bonds was sold on May 13. The State Savings Bank of
Modale was the successful bidder, paying 103. Denomination $500. Date May 1 1908. Interest semi-annual.
Moultrie, Colquitt County, Ga.-No Bonds to Be Issued.In reply to our letter asking the result of the election held
June 16 on the question of issuing the $45,000 seweragesystem bonds, mention of which was made in V. 86, p•
1242, Hon. J. F. Monk, Mayor, says: "From some cause
they failed to get bonds validated, consequently no bonds to
sell at present."
Mt. Carroll School District No. 58 (P. 0. Mt. Carroll),
Carroll County, Ill.-Bond Sale.-On June 10 the $18,500
5% coupon school-building bonds described in V. 86, p. 1426,
were awarded to the William R. Compton Bond & Mortgage
Co. of St. Louis for $19,472 (105.254) and accrued interest.
Maturity $500 on May 15 1909 and $1,000 yearly on May 15
from 1910 to 1927 inclusive.
New Bedford, Mass.-Temporary Loan.-.-A 5-months'loan
to the amount of $100,000 was recently negotiated with
Blake Bros. & Co. of Boston at 3.17% discount.
Bond Sale.-On June 24 $305,000 school and $190,000
"Municipal Loan No. 1 of 1908" 4% gold registered bonds
were awarded to H. W. Poor & Co. and Parkinson & Burr,
both of Boston, at their joint bid of 100.771. Denomination
$1,000 and multiple thereof. Date July 1 1908. Interest
semi-annually at the City Treasurer's office or through mail
by check. The school bonds mature $15,000 yearly on
July 1 from 1909 to 1927 inclusive and $20,000 on July 1
1928, while the municipal-loan bonds mature $19,000 yearly
on July 1 from 1909 to 1918 inclusive. Both issues are
exempt from taxation.
New Brighton,Beaver County,Pa.-Bond Offering.-Proposals will be received until 7:30 p. m.June 29by F.C. O'Rourke,
Secretary of Borough Council, for $40,000 43.% coupon
bonds. Denomination $1,000. Date March 15 1908.
Interest semi-annually at the Borough Treasurer's office.
Maturity $5,000 yearly on Sept. 1 from 1914 to 1921 inclusive. Bonds are exempt from State taxes.
New Haven, Conn.-Bonds to Be Offered Shortly.-It is
reported that this city will be in the market some time in
July with the following 4% bonds: $150,000 for sewers,
$35,000 for bridges, $272,000 for street-improvements and
$100,000 for schools. The first two mentioned issues mature
in twenty years while the latter two are due in twenty-five
years.
New Mexico, Territory of.-Bond Offering.-Proposals will
be received until 10 a. in. July 25 by J. H. Vaughan, Territorial Treasurer (P. 0. Santa Fe), for the following bonds:
Magnolia, Pike County, Miss.-Bond Sale.-An issue of
$25,000 6% 20-year school bonds has been disposed of to
MacDonald, McCoy & Co. of Chicago. Denomination $500.
Date Jan. 1 1908. Interest annually in Chicago.
Martin's Ferry, Belmont County, Ohio.-Bond Sale.On June 25 the $25,000 43/2% 10-year coupon paving and
sewer (city's portion) bonds described in V. 86, p. 1547,
were awarded to the Rudolph Kleybolte Co., Inc., of Cincinnati at 102.55-a basis of about 4.186%.
Mason City, Iowa.-Bond Sale.-Geo. M. Bechtel & Co.
of Davenport were the successful bidders on May 16 for
$34,000 43/2% 10-20-year (optional) refunding bonds. The
price paid was 101.50-an income basis of about 4.314%
to the optional date and about 4.387% to full maturity.
Denomination $1,000. Date July 1 1908. Interest semiannual.
•
Medford, Jackson County, Ore.-Bond Sale.-The 5%
water bonds described in V. 86, p. 1426, were sold on June 9
to John Nuveen & Co. of Chicago.
Middletown, Newcastle County, Del.-Bond Offering.Proposals will be received until 8:30 p. m. July 1 by Geo. V.
Peverley, President, at the office of the Board of Town Commissioners,for the $11,000 5% coupon refunding bonds. Authority an Act of the General Assembly approved March 14
1907. Denomination $500. Date June 1 1908. Interest
semi-annually at the Citizens' National Bank of Middletown.
Maturity June 1 1928, subject to call after June 1 1918.
Bonds are exempt from taxation. Certified check for 10% $25,000 4% coupon bonds for the improvement of the Capitol. Date
June 1 1907.
of bonds bid for, payable to the President of the Town Com- 25,000 4% coupon
bonds for the improvement of the Capitol. Date
missioners,is required. These bonds were offered on May 28,
Dec. 1 1907.
but, owing to the discovery of an error in the advertising,the
Interest semi-annually in New York City. Maturity
date was changed to that given above.
thirty years, subject to call after twenty years.
Midland, Ont.-Debenture Sale.-It is stated that the
Newport, R. I.-Bond Sale.-On June 25 the $30,000 4%
$5,000 432% sewer debentures maturing part yearly for 1-30-year (serial) coupon Mumford school-house bonds,
forty years and the $8,850 5% "bank-overdraft" debentures scribed in V.86, p. 1548, were awarded to Estabrook & Co.deof
maturing part yearly for twenty years, mentioned last week, Boston at 100.23 and accrued interest. The following bids
have been awarded to G. A. Stimson & Co. of Toronto.
were also received:
Milton School District (P. 0. West Milton), Ohio.-Bond E. H. Rollins & Sons, Bos_ _.100.0771N. W. Harris & Co., Boston_100.01
Blake
Bros. & Co., Boston_ _100.07 1
be
received until 12 m. June 29
Offering.-Proposals will
Newton (P. 0. Newton Center), Mass.-Certificate Offerby Rudolph King, Clerk Board of Education, in law office of
W. S. Kessler, for $50,000 43% coupon school-building ing.-Proposals will be received until 10 a. m . June 29
bonds. Authority Section 3991 Revised Statutes. De- by Francis Newhall, City Treasurer, for $90,000 3.65%
nomination $500. Date May 25 1908. Interest semi- registered sewer certificates. Denomination $1,000 or
annually at a bank in West Milton. Maturity $1,000 yearly multiples thereof. Interest June 1 and Dec. 1. Maturity
on May 25 from 1910 to 1920 inclusive, $1,500 yearly on May $3,000 yearly on June 1 from 1909 to 1938 inclusive. Cer25 from 1920 to 1930 inclusive and $2,000 yearly on May 25 tificates are exempt from taxation. A deposit of 2% is
from 1930 to 1942 inclusive. Certified check for $100, pay- required with bid. Purchaser to pay accrued interest from
able to the District Treasurer, is required. Bonds will be June 1 1908. Certificates will be ready for delivery on or
delivered within ten days from time of award. Accrued about July 2 1908.
interest to be paid by purchaser.
New York State.-Sale of Canal Bonds Held by Sinking
Minneapolis, Minn -Bonds Refused.-We are informed by Fund.-The State Treasurer, according to newspaper disDan C. Brown, City Comptroller, that the $250,000 4% patches, has sold a batch of 3% canal bonds and turned the
30-year sewer bonds awarded on May 7 to E. H. Rollins & proceeds, amounting to $2,125,000, into the State's funds.
Sons of Chicago (V. 86, p. 1242), have been refused by that The bonds sold are a portion of the block of $4,700,000
firm "on account of the alleged illegality of the issue." Our awarded to the State Sinking Fund on April 5 1907. It is
informant adds that the case is now before the District Court understood that the price obtained for the bonds just sold
and will possibly be brought before the State Supreme Court. was 100.25 and interest. They were purchased by various
Mississippi County (P. 0. Charleston), Mo.-Bond Sale.- banks and trust companies.
Nicholls, Coffee County, Ga.-Bond Offering.-Proposals
On June 16 the $205,000 6% coupon Drainage District No.
14 bonds described in V. 86, p. 1484, were awarded to will be received until 10 a. m. July 1 by L. C. Barnes, Mayor,
Edward G. Ralwing of Charleston at 101.463. The follow- for $10,000 5% coupon school bonds. Denomination
ing bids were received:
$1,000. Date July 1 1908. Interest payable annually in
Edw. G. BalwIng,Charleston$208,000 New First Nat. Bk.. Colum_$205,105 New York City. Maturity thirty years. Certified check
Emery,Anderson&Co.,Clev_ 207.050 IS. A. Kean, Chicago
200,900 for $500, payable to the "Mayor and Council of
the Town
Maturity on March 1 as follows: $4,000 in 1910, $5,000 of Nicholls, is required. Bonds will be certified as to
in 1911, $8,000 yearly from 1912 to 1915 inclusive, $12,000 their genuineness by the Columbia Trust Co. of New York
yearly from 1916 to 1919 inclusive, $13,000 yearly from City. Bids to be made on blank forms furnished by the city
1920 to 1924 inclusive and $17,000 yearly from 1925 to 1927 and to include accrued interest.
Inclusive.
Oakville, Ont.-Debenture
fering.-Proposals will be
Moberly, Mo.-Bond Sale.-We have just been informed received until July 3 by Chas. A. Bradbury, Town Clerk,
Jan.
1
5-20-year
5%
an
$25,000
on
of
(optional) for $23,000 school, $40,000 water-works and $10,000 electricissue
that
park bonds was disposed of at par to the William R. Compton light debentures.
JUNE 27 1908
THE CHRONICLE
1607
Reno, Nev.-Bond Offering.-Proposals will be received
Oklahoma-State of.-Bond Offering.-Proposals will be
received until 2 p. m. July 16 by J. A. Menefee, State Treas- until 4 p. m. June 29 by H. E. Christie, City Clerk, for
urer (P. 0. Guthrie), for the $1,460,000 4% coupon bonds $50,000 5% gold coupon general-improvement bonds. Auto be issued for the purpose of funding the 6% warrants of thority Section 2, Article 18, of an Act of the Legislature. apthe old Territorial debt now outstanding. See V. 86, p. 184. proved March 13 1905. Denomination $1,000. Date July 1
Denomination $500. Interest Feb. 1 and Aug. 1 at the 1908. Interest semi-annually at the City Treasurer's office.
fiscal agency in New York City or at the State Treasurer's Maturity July 1 1933, subject to call after Jan. 1 1918.
office in Guthrie. Maturity $146,000 yearly on Aug. 1 from Bonds are exempt from municipal taxes.
1918 to 1927 inclusive. Certified check for 1% of bid,
Rockville School District (P. 0. Rockville), Ind.-Bonds
payable to J. A. Menefee, State Treasurer, is required. Voted.-According to reports,the question of issuing $18,000
Delivery of bonds Aug. 1 1908.
high-school-building bonds was favorably voted upon June
Old Town, Penobscot County, Me.-Bond Sale.-We are 13. It is stated that the vote was 266 to 65.
Rocky Mount, Edgecombe County, N. 0.-Bond Sale.advised that $65,000 4% coupon refunding and funding
bonds were recently awarded to the Merrill Trust Co. of We are advised that the $135,000 5% 30-year water, light
Bangor at private sale. Denomination $1,000. Date June 1 and street bonds offered on May 1 and described in V. 86,
1908. Interest semi-annually at the Merrill Trust Co. in p. 1057, were awarded on June 1 to Weil, Roth & Co. of
Cincinnati at par and accrued interest. Denominations:
Bangor. Maturity June 1 1928.
$1,000 and $500. Date June 11908. Interest semi-annual.
Olean, Oattaraugus County, N. Y.-Bond Sale.-The ExRome School District (P. 0. Rome), Oneida County, N. Y.
change National Bank of Olean was the successful bidder on
June 24 for the $36,000 4% 7-24-year (serial) coupon new -Bonds Defeated.-On May 27 this district voted down a
proposition to issue $55,000 school-building bonds. The
reservoir bonds described in V. 86, p. 1548.
vote was 100 "for" to 296 "against."
Offer-Bond
Y.
N.
Canandaigua),
Ontario County (P. 0.
Sacramento County (P. 0. Sacramento), Cal.-Bond Sale.
ing.-Proposals will be received until 2 p. m. July 1 by
Heber E. Wheeler, County Treasurer, for $91,000 432% -According to reports the $660,000 court-house and jail,
registered or coupon road-improvement bonds. Denomina- the $600,000 road and highway and the $225,000 bridge
tion $1,000. Date July 1 1908. Interest semi-annually at 4% bonds maturing one-thirtieth of each issue yearly
the United States Mortgage & Trust Co. in New York City. on Dec. 10 from 1917 to 1946,inclusive, were awarded on
Maturity on July 1 as follows: $10,000 yearly from 1909 to June 22 to the Harris Trust & Savings Bank, the Merchants'
1913 inclusive; $25,000 in 1914 and $16,000 in 1915. Pur- Loan & Trust Co. and E. H. Rollins & Sons,all of Chicago.
chaser to pay the cost of printing the bonds. Bids to be made These bonds are described in V. 86, p. 1549-4,144taki
St. Anthony, Fremont County, Idaho.-Bond Offering.on blank form furnished by the county and accompanied by
a certified check for 2% of the bonds bid for, payable to the Proposals will be received until June 29 by W. A. Calderhead,
County Treasurer. Accrued interest to be paid by pur- City Clerk, for $20,000 6% coupon building bonds. Dechaser. Bonds to be delivered on or before July 14 1908. nomination $1,000. Date July 1 1908. Interest semiOfficial circular states that there is no litigation pending or annually at the City Treasurer's office or in New York City.
threatening affecting the validity of these bonds.
Maturity twenty years, subject to call after ten years. This
Outremont, Que.-Debenture Offering.-Proposals will be city has no debt at present. Assessed valuation for 1907,
received by Rolland Desjardins, Chairman Finance Com- $166,295.
St. Johns, Multnomah County, Ore.-Bond Sale.-On
mittee, for $150,000 5% local-improvement debentures
June 9 the Peninsula Bank of St. Johns paid 107 and accrued
maturing in forty-two years.
Perinton Union Free School District No. 9 (P. 0. Fair- interest for the $60,000 6% 20-year coupon public-dockconstruction bonds described in V. 86, p. 1427. This is
port), Monroe County, N. Y.-Purchaser of Bonds.-The on
a basis of about 5.423%. A bid at 101 was also received
purchaser of the $3,500 6% school-site bonds, the sale of from S. A. Kean of
Chicago.
which was reported in the "Chronicle" of June 20, was
St. Joseph School
(P. 0. St. Joseph), Buchanan
Myron W. Greene of Rochester, and not the Fishkill Savings County, Mo.-Bond District
Offering.-Proposals will be received
Institute of Fishkill, as we were at first advised. The Fish- until 2 p. m. June 29 by Harry
H. Smith, Secretary of the
kill Savings Institute was the subsequent purchaser of the School Board, for $250,000 4%
coupon school-building
bonds.
bonds. These securities are part of the issue of $500,000
Philadelphia, Pa.-Loan Authorized.-A temporary loan bonds voted (V. 86, p. 1427) on May 22. Denomination
of $200,000 at 4% for general municipal purposes has been $1,000. Date July 1 1908. Interest semi-annually at the
authorized by the Councils. Maturity 'not longer than four National Bank of Commerce in New York City. Maturity
months."
July 1 1928. Certified check for 2% of bonds bid for,
Phillips, Price County, Wis.-Bond Sale.-The $30,000 payable to the "School District of St. Joseph," is required.
5% 1-20-year (serial) coupon school-building bonds, pro- Purchaser to pay accrued interest. Delivery of bonds onlor
posals for which were asked until June 10 (V. 86, p. 1426), before July 15 1908.
have been awarded to H. T. Holtz & Co. of Chicago at 104.15,
St. Paul, Minn.-Tax-Levy Certificates Issued.-On June
plus the cost of having the bonds printed.
15 this city issued $1,872,700 4% tax-levy certificates in
Portsmouth, Scioto County, Ohio.-Bond Offering - anticipation of the collection of the 1908 taxes. They
Proposals will be received until 12 in. June 30 by Filmore bear semi-annual interest, are.in the denominations of $500
Musser, City Auditor, for $48,000 4% street-improvement and $100 each, and were sold at par to about 900 local inassessment bonds. Denomination $500. Date June 1 vestors. The amount of certificates issued is said to be 80%
1908. Interest semi-annually at the City Treasurer's of the 1908 tax levy.
office. Maturity on June 1 as follows: $3,000 in 1910;
Sallisaw, Sequoyah County, Okla.-Bond Sale.-We are
$5,000 in the years 1911, 1912 and 1913,and $6,000 yearly advised that R. J. Edwards was recently awarded $60,000
from 1914 to 1918 inclusive. Certified check for 2% of water-works and $35,000 school 6% 20-year bonds. The
the bonds bid for, payable to the City Auditor, is required. school bonds are in denomination of $500 each and the
In addition to the above, proposals will also be received water-works bonds are in denomination of $1,000 each.
by the City Auditor at the same time and place for $13,000 Date July 1 1908. Interest semi-annual.
4% coupon street-improvement (city's portion) bonds. DeSan Diego, San Diego County, Cal.-Bond Offering.nomination $500. Date June 1 1908. Interest semi-an- Proposals will be received
until 7:30 p. in. June 29 by J. T.
nually at the City Treasurer's office. Maturity on June 1 as Butler, City Clerk,
for the following bonds:
follows: $5,000 in 1911; $2,000 in each of the years 1912, $265,891 45 4H % gold water-enlargement
and extension bonds. Denomination $500, except one bond for $331
1913 and 1915, and $1,000 in the years 1914 and 1916. Cer45. Maturity
"fourteen
bonds"
yearly.
tified check for 2% of the bonds bid for, payable to the City
50,000 00 4,t% gold concrete-culvert bonds. Denomination $500. MaAuditor, is required.
turity "three bons" yearly.
65,000 00 4% gold lire-department bonds. Denomination $500. MaProposals will also be received until 12 m. July 21 by
turity "four bonds" yearly.
Filmore Musser, City Auditor, for the following bonds:
52,894 54 43% gold sewer-Improvement bonds. Denomination $500,
except one bond for $394 54. Maturity "three bonds"
$10,000 4% coupon fire-department building bonds. Date July 1 1008.
yearly.
Maturity on July 1 as follows: $4,000 In 1911, 84,000 In 1312
4,648 54 4% gold University Heights sewer bonds. Denomination
and $2,000 In 1913.
$500, except one bond for $148 54. Maturity "one
20,000 4% coupon sewer-construction (city's portion) bonds. Date Aug.
bond" yearly.
1 1908. Maturity $5,000 yearly on Aug. 1 from 1925 to 1928
12,834 58 4H% gold Florence Heights sewer bonds. Denomination
inclusive.
$500, except one bond for $334 58. Maturity "one
PlIDenomination $500. Interest semi-annually at the City
bond" yearly.
4,389 34 4% gold East Side sewer bonds. Denomination $500, exTreasurer's office. Certified check for 2% of the bonds
cept
one bond for $389 34. Maturity "one bond"
bid for, payable to the City Auditor, is required.
yearly.
5,50000 4% gold Ninth Ward Outfall sewer bonds. Denomination
Potosi, Grant County, Wis.-Bonds Defeated.-The elec$500. Maturity "one bond" yearly.
0,40000 4% gold South and Lincoln Parks sewer bonds. Denominators of this city on May 20 defeated a proposition to issue
tion $500, except one bond for $400. Maturity "one
$3,000 water and sewer bonds.
bond" yearly.
These securities are dated June 1 1907. Interest semiRandall County (P. 0. Canyon City), Tex.-Bond Sale.On June 15 the $50,000 4% 10-40-year (optional) coupon annual. Bids must be unconditional and accompanied by
court-house and jail bonds described in V. 86, p. 1485, were a certified check for $5,000 or if bid is for less than $5,000,
awarded to the State School Board at par and accrued inter- then a certified check (equal to the amount of the bid)
drawn on some bank in San Diego and made payable to the
est. This was the only bid received.
Treasurer, is required. These issues were offered
rRegina, Sask.-Debenture Sale.-Reports state that $320,- City
000 5% debentures were recently bought by Wood, Gundy without success (V. 85, p. 57) on May 20 1907.
Sandpoint School District No. 1 (P. 0. Sandpoint), Bonner
& Co. of Toronto at 98.50. Maturity on July 1 as follows:
County, Idaho.-No New Bonds.-Through a letter received
$25,000 in 1923; 1$5,000_in 1928 and $290,000 in 1938
1608
THE CHRONICLE
FoL. LXXXVI
what charge will be made for printing and lithographing the
bonds.
South Vancouver, B. C.-Debenture Offering.-Proposals
will be received until 4 p. m. July 2 by R. H. McClinton,
C.M.C. (P. 0. Box 1, Hillcrest), for $24,000 5% 50-year
debentures.
,Sparta Graded Common School District (P. O. Sparta),
Owen County, Ky.-Bond Offering.-Proposals will be received until 12 m. June 30 by J. B. Samuel, Secretary, for
$3,000 6% school-building bonds. Denomination $200.
Date July 1 1908. Interest semi-annually at the Sparta
July 1
For $5,000 Osborne St. bonds-par and accrued interest less $45 to cover Deposit Bank in Sparta. Maturity $200 yearly on
.attorney's fees and incidental expenses.
from 1909 to 1923 inclusive. Accrued interest to be paid
cover
accrued
to
and
interest
$45
less
bonds-par
St.
Lawrence
$6,000
For
by purchaser.
attorney's fees and incidental expenses.
Springfield, Clark County, Ohio.-Bond Sale.-On June 23
The Osborne Street bonds mature $500 yearly on May 1
from 1909 to 1916 inclusive and $1,000 on May 1 191,7, and the $40,000 4% bridge bonds and the $20,000 43.% (not
the Lawrence Street bonds mature, $500 yearly on May 1 4% as at first reported) fire-department bonds, a description
from 1909 to 1914 inclusive and $1,000 on May 1 in each of of which was given in V. 86, p. 1550, were awarded to the
Dayton Savings & Trust Co. of Dayton, and Weil, Roth &
the years 1915, 1916 and 1917.
Santa Cruz School District, Santa Cruz County, Cal.- Co. of Cincinnati, respectively. The former issue matures
and
Bond Sale.-We are informed that 850,000 5% 1-10-year $20,000 on March 1 in each of the years 1931 and 1932 the
(serial) gold coupon bonds voted on May 16 were recently was sold at 100.325-a basis of about 3.979%-while
awarded to the Union Trust Co. of San Francisco at par. latter issue matures on March 1 1930 and brought 106.425Denominations $1,000 and $500. Date June 1 1908. Inter- a basis of about 4,056%.
Sterling School District (P. 0. Sterling), Logan County,
est semi-annually at the County Treasurer's office.
Sale.-Under date of June 19 we are informed
Sault Ste. Marie, Chippewa County, Mich.-I3ond Offering. Col.-Bond
4
-Proposals will be received until 2 p. in. June 30 by Fred. L. that the $15,500 school-building bonds voted on May
of.
Evening, City Comptroller, for ,$15,000 4% building bonds. have been disposed
Stevens County (P. 0. Colville), Wash.-Bond Sale.-We
Authority vote of 1,033 to 476 cast at election held April 1
1907. Denomination $1,000. Date Sept. 11908. Interest are advised that on June 13 $7,000 10-20-year (optional)
semi-annually at the City Treasurer's office. Bonds are funding-warrant bonds were disposed of at par for 53's to
exempt from taxation. Maturity Sept. 1 1928. Certified Morris Bros. of Portland. Denomination $1,000. Interest
check for $500, payable to the "City of Sault Ste. Marie," semi-annually in Jan. and July.
Suffolk, Nansemond County, Va.-Bond Of
.-Prois required.
has posals will be received until 12 m. July 1 by R. S. Burkin,
otSavannah, Ga.-Bonds Authorized.-The City Council
adopted an ordinance providing for the issuance of $2,610,000 Town Treasurer, for $2,500 432% registered refunding
432% gold coupon refunding bonds. Denominations $500 bonds. Denomination $500. Date July 4 1908. Interest
and $1,000. Date Feb. 1 1909. Interest semi-annually in semi-annually at the Town Treasurer's office. Maturity
July 4 2008. Certified check for 10% of bid is required.
New York and Savannah. Maturity fifty years.
Bonds are exempt from town tax. W. B. Ferguson is'
Seguin, Guadalupe County, Tex.-Bonds Registered.-On Chairman Finance Committee.
June 13 $6,000 4% 5-40-year (optional) city-hall bonds were
Syracuse, N. Y.-Bonds Not Sold.-No award was made
registered by the State Comptroller.
on June 25 of the $1,000,000 4% 1-40-year (serial) water
held
be
will
election
-An
Election.
-Bond
Okla.
Shawnee,
bonds, described in V. 86, p. 1550.
some time in July to determine whether or not $100,000
hall.
Talladega, Talladega County, Ala.-Bond Offering.a
of
convention
erection
the
for
issued
bonds shall be
Further details are at hand relative to the offering of the
Shawnee School District (P. 0. Shawnee), Pottawatomie $10,000 5% coupon-refunding bonds mentioned in V. 86,
County, Okla.-Bonds Not to Be Offered at Present.-The p. 1244. These bonds are being offered at private sale by
Clerk of the Board of Education informs us that the $23,000 W. B. Harrison, City Attorney. Denomination $1,000.
7
5% school-building and site-purchase bonds voted on April
Date July 1 1908. Interest semi-annually at a place de(V. 86, p. 998) will not be placed on the market until after signated by the purchaser. Maturity thirty years. Bonds
the assessed valuation for 1908 has been taken, which will be are exempt from city taxes.
about July 1.
Tallahassee, Leon County, Fla.-Bond Offering.-ProShelby County (P. 0. Sidney), Ohio.-Bond Offering.- posals
will be received until 12 m. July 1 by A. H.Williams,
Proposals will be received until 12 m. June 30 by the County City
Clerk, for $75,000 5% 30-year gold water-works bonds.
Commissioners at the office of J. C. Rosser, County Auditor,
Denomination $1,000. Interest Jan. 1 and July 1. Cortifor $40,000 43/2% ditch-improvement bonds. Authority field check for 5% of the bid, payable to the "City of Tallaand
Statutes
Revised
4482,
and
4481
4480,
4479,
Sections
is required.
amendments thereto. Denominations $100, $200, $300, hassee,"
semi-annually
School District (P. 0. Thomville), Perry
1908.
Interest
1
Thornville
July
Date
$500.
$400 and
$10,000 43% bonds deat the County Treasurer's office. Maturity $4,700 on Jan. 1 County, Ohio.-Bond Sale.-Thesold
on June 22 to Dudley
1909; $5,700 on July 1 1909; $6,700 on Jan. 11910; $7,900 scribed in V. 86, p. 1550, were
Maturity $250 each six
on July 1 1910; $7,000 on Jan. 1 1911 and $8,000 on July 1 Scott of Columbus at 101.75.
months from March 1 1909 to Sept. 1 1928 inclusive.
1911. Cash deposit of $200 is required.
Travis County (P. 0. Austin), Texas.-Bond Election.Sheridan, Sheridan County, Wyo.-Bond Offering.-ProAn election will be held June 29 to allow the voters to deterposals will be received until 7:30 p. m. July 6 for the $250,000 mine whether or not $250,000 bridge, road and refunding
5% 10-30-year water-system-extension bonds. Denomina- bonds shall be issued.
tion $500. Date July 15 1908. Interest annually on Jan. 1
Tulia Independent School District (P. 0. Tulia) Swisher
at the Chemical National Bank in New York City. Certified County, Tex.-Bonds Not Yet Sold.- A letter received on
District stated that
check on a Sheridan bank for 5% of the bonds bid for, pay- May 9 from the President of the School bonds-the unsold
$6,000
been
yet
had
the
of
made
sale
no
is
W.
C.
Sheldon
required.
able to the City Treasurer, is
portion of the issue of $7,000 5% 15-40-year (optional)
City Clerk.
school-house bonds mentioned in V. 86, p. 814.
The official notice of this bond offering will be found among
Troy, N. Y.-Certificate Offering.-Proposals will be rethe advertisements elsewhere in this Department.
ceived until June 29 for $100,000 5% certificates of indebtedSomerville (P. 0. Station, Boston), Mass.-Temporary ness maturing on Oct. 19 1908. Chas. F. McLindon is
Loan.-A loan of $150,000 dated June 26 1908 and ma- Deputy Comptroller.
turing Feb. 25 1909, has been negotiated, it is stated, with
Trumbull County Road District No. 1, Ohio.-Bond OfferEdgerly & Crocker of Boston at 3.85% discount.
ing.-Proposals will be received until 1 p. m. June 30 by
Delhi),
Miss Jennie B. Griffith, Clerk Board of County Supervisors
South Bend Special School District No. 4 (P. 0.
Hamilton County, Ohio.-Bond Sale.-On June 18 the $7,500 (P. 0. Warren),for $30,000 5% coupon road-improvement
5% 1-15-year (serial) coupon school-building and site-pur- bonds. Authority Sections 4757-1 to 21 inclusive, Revised
chase bonds described in V. 86, p. 1486, were awarded to Statutes. Denomination $1,000. Date Aug. 1 1908. Inthe Atlas National Bank of Cincinnati at 103.75 and accrued terest semi-annually on March 1 and Sept. 1 at the County
interest-a basis of about 4.439%.
Treasurer's office in Warren. Maturity $1,500 each six
South Omaha, Douglas County, Neb.-Bond Offering.- months from Sept. 1 1923 to March 1 1933 inclusive. CertiProposals will be received until 8 p. m. July 6 by John J. fied check for $500, payable to Albert Brown, Secretary
Board of County Supervisors, is required.
Gillin, City Clerk, for the following bonds:
Union City (Borough), Erie County,Pa.-Bond Offering.$30,000 43,6% coupon intersection bonds. Denomination $1,000. Date
day of issue.
Proposals will be received until 7 p. m. June 29 by the Bor30,000 coupon sewer-system-construction bonds at not exceeding 4
interest. Denomination $500.
ough Council, Elmer N. Foster, Secretary, for $16,705 80
Interest semi-annually at the Nebraska fiscal agency in 4% coupon water-system-improvement and fire-equipment
80.
New York City.• Maturity twenty years, subject to call after bonds. Denomination $500, except one bond of $205part
five years. Certified check for $1,000, payable to the "City Date July 1 1908. Interest semi-annual. Maturity
for 2%
of South Omaha," is required. Accrued interest to be paid yearly from 1925 to 1933 inclusive. Certified check
is
by purchaser, who will also be required to state in his bid of the bonds bid for, payable to the Borough Treasurer,
on June 22 from the Clerk Board of School Trustees we
learn that the $25,000 5% building bonds which are being
advertised to be sold to-day (June 27) are the same securities
awarded last May to the State of Idaho at par (V. 86, p.
1361). They are being re-advertised for sale so as to correct
an error that appeared in the original advertisement.
Sandusky, Ohio.-Bids.-We are advised that the following bids were received.on June 22 from Weil, Roth & Co. of
Cincinnati for the $5,000 4% Osborne Street bonds and the
$6,000 4% Lawrence Street paving bonds described in V. 86,
p. 1549:
Fr
1609
THE CHRONICLE
JUNE 27 1908.1
required. Bonded debt at present $34,412. Assessed
valuation $780,144.
Urbana School District No. 116 (P. 0. Urbana), Champaign County, Ohio.—Bond Offering.—Proposals will be
received until July 1.by C. L. Van Doren, Chairman Finance
Committee,for $15,000 4% school-building bonds. Denomination $1,000. Date Sept. 1 1908. Interest annually at
the Urbana Banking Co.in Urbana. Maturity $1,000 yearly
on Sept. 1 from 1909 to 1923 inclusive. C. B. Holmes is
Secretary of the Board of Education.
Versailles, Woodford County, Ky.—Bond Sale.—The
$60,000 5% 1-20-year (serial) sewer and water-works bonds
proposals for which were received on May 11 (V. 86, p.
1245) have been awarded to Weil, Roth & Co. of Cincinnati
at 101.725—a basis of about 4.789%.
Villard Township (P. 0. Motley), Todd County, Minn.—
Bond Offering.—Proposals will be received until 2 p. m.
July 1 by S. Francisco, Township Clerk,for $1,5006% coupon
bridge-building bonds. Authority Chapter 61, General
Laws of 1905. Date July 1 1908. Interest is payable at
the Township Treasurer's office. Maturity July 1 1909.
Bondi are tax-exempt. Total debt, this issue. Assessed
valuation for 1908 $59 174.
Wahoo, Saunders County, Neb.—Bond Offering.—Proposals will be received by L. H. Lyle, City Clerk, for $50,000
water-works and $15,000 electric-light 5% coupon bonds.
Denomination $1,000. Date June 1 1908. Interest semiannually at the City Treasurer's office. Bonded debt at
present, $20,000.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Waitsburg School District (P. 0. Waitsburg), Walla
Walla County, Wash.—Bond Sale.—The First National
Bank of Waitsburg purchased on May 29 $10,000 10-20-year
(optional) additional-building bonds at 102for 5s—a basis of
about 4.747% to the optional date and about 4.843% to full
maturity. Denominations $500 and $1,000. Date July
1908. Interest semi-annual.
Wakelon County Graded School District, N. 0.—Bond
Offering.—Proposals will be received until 12 m. July 20 by
Z. V. Judd, County Superintendent of Public Instruction
(P.0. Raleigh),for $10,000 6% high-school bonds. Interest
semi-annual. Maturity thirty years. Certified check for
$200 is required.
Walter, Okla.—Bonds Voted.—It is reported that an election held recently resulted in a vote of 367 "for" to 15
"against" a proposition to issue $25,000 school-building
bonds.
Bond Election.—Reports also state that an election will be
held shortly to vote on the issuance of street grading and improving bonds.
Waltham, Mass.—Temporary Loan.—On June 23 a loan
of $25,000 was negotiated with Brown Bros. & Co. of Boston
at 3.17% discount. Loan is dated June 24 1908, and matures Nov. 19 1908.
Washington, Guernsey County, Ohio.---Bond Offering.—
Proposals will be received until 12 m. June 30 by James J.
Flynn, City Auditor, for $10,000 4% street-improvement
bonds. Authority Section 2835 Revised Statutes. Denomination $500. Date July 1 1908. Interest semiannual. Maturity $500 each six months from March 1 1909
to Sept. 1 1918 inclusive. Certified check for $100, payable
to the City Treasurer, is required. Accrued interest to be
paid by purchaser
In addition to the above proposals will also be received
at the same time and place by the City Auditor for $3,500
4% sewer-construction bonds. Authority Section 2835, Revised Statutes. Denomination $500. Date July 1 1908.
Interest semi-annual. Maturity $500 each six months from
March 1 1909 to March 1 1912 inclusive. Certified check for
$100, payable to the City Treasurer, is required. Purchaser
to pay accrued interest.
Warren Township Special School District No. 1 (P. 0.
Gravel Bank), Washington County, Ohio.—Bond Sale.—
This district on June 18 sold $2,000 5% 1-8-year (serial)
school-house bonds to the Security Savings Bank & Trust
Co. of Toledo at 100.75 and accrued interest. Denomination
$250. Date June 11908.
NEW LOANS.
NEW LOANS.
s,200,000
$250,000
CITY OF WINNIPEG
City of Sheridan, Wyoming,
S HOOL BONDS.
WATER BONDS.
The City of Sheridan, Wyoming, will receive
bids for the sale of 10-30-year $250,000 bonds
to extend the water system of said city. Bonds
to be dated July 15th, 1908, to be sold for not
less than par; each bond is in the sum of *500.
Interest is 5%,payable January 1st of each year.
Principal and interest payable at Chemical
National Bank, New York City. Bidder is
required to deposit certified check on a Sheridan
bank equal to five per cent of amount bid for,
payable to the City Treasurer of said city.
Said deposit will be forfeited in case bidder
does not buy bonds awarded him. The Mayor
and Council reserve the right to reject any and
all bids.
Actual value of property in the city is $10,000,000. Bids will be opened July 6th, 1908, at
7:30 o'clock p. m. In the office of the City Clerk.
C. W. SHELDON,
City Clerk.
Sealed tenders, addressed to the SecretaryTreasurer, Winnipeg School Board, will be received up to three o'clock p. m., JULY 9TH,
1908, for the purchase of the whole or any portion
of $200,000 of debentures of the school district
of Winnipeg No. 1, re-payable at the expiration
of 35 years from the 1st of August, 1908, with
Interest from 1st of August at 4 per cent per
annum, payable semi-annually. Money to be
paid and delivery made at Winnipeg. Principal
and interest payable at London, England; New
York, U. S. A.; Toronto, Montreal or Winnipeg.
Provision has been made for registration of
bonds.
The highest or any tender not necessarily
accepted.
For further information apply to the undersigned.
R. H. SMITH,
Secretary-Treasurer Public School Board.
Winnipeg, Canada.
NEW LOANS.
so45.,000
City of Wahoo, Nebraska,
5% BONDS
Sealed proposals will be received by L. H. Lyle,
City Treasurer, for the sale of $50,000 water
bonds and $15,000 electric-light bonds of the
City of Wahoo, Nebraska. Said bonds are In
denominations of $1,000 each, dated June 1.
1908, bearing 5% Interest and payable semiannually on December 1st and June 1st each
year at the City Treasurer's office In Wahoo,
Nebraska. For further Information, address
CHAS. H. SLAMA,
City Attorney.
Send for our list offering various Issues of
tax-exempt Municipal bonds which are legal
investment for Savings Banks, Executors
and Trustees of Estates. Yielding from 4%
to 5%•
& Burr, R. M. GRANT 8c CO.,
Blodget, Merritt & Co. Perry, Coffin
NEW YORK
31 NASSAU ST.,
BANKERS,
INVESTMENT BONDS.
STAFF 8c CO.
60 State Street, Boston
36 NASSAU STREET, NEW YOILK
STATE, CITY tit RAILROAD BONDS
60 State Street,
BOSTON.
MaoDonald, McCoy & Co.,
MUNICIPAL AND CORPORA TIOR
BONDS.
181 La Salle Street, Chicago
BONDS.
LIST ON APPLICATION.
BEASONGOOD & MAYER,
Mercantile Library Building,
CINCINNATI.
OTTOJULIUS MERKEL
BROKER
YORK.
INVESTMENT SECURITIES.
44 AND 46 WALL ST.
NEW
Correspondence InvItAti
1332 Walnut Street
PHILADELPHIA
LIST OF SPECIALTIES ON REQUEST
Cuban Securities
Established iSSS.
A SPECIALTY
FRANCKE, THOMPSON & ROBB H. C. Speer & Sons Co.
Members N.Y. Stock Exchange
MUNICIPAL AND RAILROAD
BLACK
INVESTMENTS
43 Exchange Place
Telephone 8444 Hanover
BRANCH OFFICE
Bristol Building, 5th Ave. and 42d Ni.
Telephone 11588 Bryant
INVESTMENT BONDS
Lists upon request.
Denison & Farnsworth
BOSTON
CLEVELAND and PHILADELPHIA
First Nat. Bank Building, Chicago
CITY COUNTY
AND TOWNSHIP
Albert Kleybolte & Co.,
409 Walnut Street,
CINCINNATI, O.
Municipal,
County, State,
.
and High-Grade Public Servie,
Securftles
Correspondence Solicited
[VOL. Lxxxvt.
THE CHRONICLE
1610
Watertown, S. D.—Bond Election.—The Mayor has ordered an election to be held June 30, it is stated, to vote on
the issuance of $65,000 school-building bonds.
• Westchester County (P. 0. White Plains), N. Y.—Bond
Offering.—Proposals will be received until 2 p. m. July 2
by Joseph B. See, County Treasurer, for the following bonds:
$117,333 20 43% registered funding bonds. Denomination $5,000, ex
cept one bond of $2,333 20. Maturity $60,000 on Aug*
1 1936 and $57.333 20 on Aug. 1 1937.
50.285 66 43.% registered temporary-loan bonds. Denomination $5,000. except one bond of $5,285 66. Maturity Aug. 1
1913.
Interest from Aug. 1, payable semi-annually at the County
Tracsurer's office. Certified check on a State or national
bank or trust company for 5% of the bid is required. The
genuineness of these bonds will be certified to by the United
States Mortgage & Trust Co. Bids to be made on blank
forms furnished by the county.
Bond Sale.—The following 43/2% registered bonds were
sold on June 19:
13.000 bridge bonds, due $1,000 yearly on June 1 from 1910 to 1922 inclusive, awarded to Sutro Bros. of New York City for $13,292
(102.246) and accrued Interest. Denomination 41,000.
12,500 drainage bonds, cue 51,090 yearly on July 1 from 1909 to 1919
inclusive and $1,500 on July 1 1923, awarded to Sutro Bros. of
New York City at 101.848 And accrued interest. Denominations
$1.000 and $1,500.
30,000 armory bonds, due $5,000 yearly on Feb. 1 from 1932 to 1937
inclusive, awarded to N. W. Halsey & Co. of New York City at
106.58 and accrued Interest. Denomination $1.000.
Interest semi-annually at the County Treasurer's office.
Bonds will be certified to as to genuineness by the United
States Mortgage & Trust Co. of New York City.
West Springfield (P. 0. Springfield), Worcester County,
Mass.—Bond Election.—On June 30 the electors of this town
will vote on the question of issuing not exceeding $50,000
additional water-loan bonds.
Wichita School District (P. 0. Wichita), Sedgwick
County, Kan.—Bonds Not Sold.—We are informed that no
award was made of $15,000 432% bonds offered on June 1.
Our informant adds that these securities will again be offered
in the near future.
Willoughby, Lake County, Ohio.—Bond Offering.—Proposals will be received until 12 in. June 29 by C. C. Jenkins,
Village Clerk, for $7,238 4% coupon assessment bonds
for constructing a sewer in Sanitary Sewer District No. 1.
Denomination $800,except one bond of $838. Date March 1
1908. Interest semi-annually at the Cleveland Trust Co.
in Willoughby. Maturity one bond each six months from
March 1 1909 to March 1 1913 inclusive. Bonds are taxexempt. Certified check or draft for. $100, payable to the
Village Treasurer, is required. Accrued interest to be paid
by purchaser.
Winnipeg, Man.—Sale of Consolidated Registered Stock.—
In regard to the £1,500,000 4% consolidated registered
stock due April 1 1940, offered at£96% by the Bank of Montreal, agents for the city, we are advised by the City Comptroller that the whole issue was underwritten. Interest
will be payable semi-annually on April 1 and Oct. 1.
Woodland School District (P. 0. Woodland), Wash.—
Bonds Voted.—A proposition to issue $10,000 school-house
bonds was favorably voted upon June 8.
Wooster School District (P. 0. Wooster), Wayne County,
Ohio.—Bond Sale.—The successful bidders on June 19
the $40,000 432% coupon hi7h-school bonds described in
V. 86, p. 1487, were Hayden', Miller & Co. of Cleveland.
Their bid was $41,617, or 104.042.
The following bids were received:
Hayden,Miller& Co.,Clev.$41,617 001Breed & Harrison, Cin_ _ _$41,430 00
Wayne Co. Nat Bank,
Cleve. Tr. Co., Cleveland_ 41,332 50
Wooster
s
too_ G
41,616 00 Rudolph Kleybolte Co.,
0Ws
. Bk., Cincinnati 41,521 001 Inc., Cincinnati
West.-Ger.
41,236
Seasongood & Mayer, Cin1Sec. Says. Bank Fc Trust
cInnati
40,665 00
'41,432 00 I Co., Toledo
Worcester, Mass.—Bond Sale.—This city on June 1 sold
a $25,000 4% 10-year sewer bond to the People's Savings
Bank of Worcester at 105.10—a basis of about 3.395%.
Yonkers, N. Y.—Bond Sale.—On June 24 Ferris & White
of New York City purchased the $100,000 43% 1-20-year
(serial) registered city-hall bonds described by us last week,
at 102.551 and accrued interest—a basis of about 4.198%.
The following bids were also received:
Fenwick 80 Roerson, N. Y__101.53 IN. W. Harris & Co., N. Y_ _ _100.83
J. D. Everitt & Co., N. Y___101.3371Kountze Bros., New York__ _ _199.78
E. B. Ca1well &Co., N. Y___101.29 1
Interest semi-annually in April and October.
TRUST COMPANIES.
47
of low Turk,
lag States TrastCompaq
45 and
Wall Street.
CAPITAL,
SURPLUS AND UNDIVIDED PROFITS,
Manhattan
ii2.000,000 00
$13,034,416.54
This Company acts as Executor, Administrator, Guardian, Trustee, Court Depositary and In
other recognized trust capacities.
It allows interest at current rates on deposits.
It holds, manages and invests money, securities and other property, real or personal, for estates.
corporations and Individuals.
Trust
Company
20
•
Wall Street
EDWARD W SHELDON, President.
JOHN CROSBY BROWN, Vice-President,
WILLIAM M KINGSLEY, Second Vice-Pres
HENRY E. AHERN, Secretary.
WILFRED J WORCESTER, Asst. Secretary
CHARLES A. EDWARDS. 2d Asst. Secretary
TRUSTEES.
JOHN A. STEWART. Chairman of the Board.
William H. Macy Jr.,
John Crosby Brown,
John Clain,
Payne Whitney,
W. Bayard Cutting.
William D. Sloane
Edward W. Sheldon,
John J. Phelps,
Charles S. Smith,
Gustav H. Schwab,
John S. Kennedy,
ChaunoeY Keep,
William Rockefeller,
Frank Lyman,
D. O. Mills,
George L. Hives,
Alexander E. Orr,
George F. Victor.
Lewis Cass Ledyard,
Arthur C. James,
James Stilltnan,
Lyman J. Gage.
Corner Nassau
NEW YORK
COMPANY
Bowling Green Trust Co. THE AUDIT
OF NEW YORK,
26 BROADWAY, NEW YORK.
ORGANIZED 1897.
OFFICERS:
\o‘ke R 00
/re
CO, °P
TRST
U
358 Fifth Avenue, Corner 34th Street
46 Broadway,125th Bt. and Lenox Ave.
148th St. and Third Ave.
Capital av,c1 Surplus over
$14.000,000
CHARLES H. KEEP, President
DIRECTORS.
G. Louis Boissevain,
Frederick G. Bourne.
Franklin Q. Brown,
Edward H. Clark,
Dumont Clarke,
J. Horace Harding,
Charles F. Hoffman,
William B. JoyCe,
Charles H. Keep,
Samuel T. Peters,
Hinsdill Parsons,
William A. Tucker,
Payne Whitney.
Herbert L. Satteriee,
ATTENTION INVITED TO FACILITIES
OFFERED FOR BUSINESS AND
PERSONAL ACCOUNTS.
NEW YORK:
43 Cedar Street.
CHICAGO.
PHILADELPHIA.
NEW ENGLAND OFFICE:
Easton Bldg., 15 State St., BOSTON.
Prick 11g.,PIttsburgh.Pa. Candler 13g..Atlatita,111.
EDWARD T. PERINE,
President.
WILLIAM A. NASH, JOHN J. MITCHELL.
GEORGE W. YOUNG,
Vice-Presidents.
F. C. RICHARDSON,
DIRECTORS:
Secretary and Treasurer.
This Company Audits and Investigates AcFrank J. Gould,
Charles P. Armstrong,
John A. Hilton,
counts and makes Physical Examinations of
Frank Brainard,
Properties. Its Certificates and Reports are PreEdward T. Jeffery,
Harry Bronner,
pared in behalf of Merchants, Bankers, CorporaWinslow S. Pierce,
Franklin Q. Brown,
tions. Committees and others. In strict confidence.
Morton F. Plant,
Robert C. Clowry,
The Company also devises and installs MoneyDick S. Ramsay,
Edmund C. Converse,
Wm. Nelson Cromwell,
Frederick B.Schenck, mairng Systems of Keeping Accounts.
Andrew Squire,
P. C. Costello,
William H. Taylor,
Grenville M. Dodge,
John P. Truesdell,
A. Goepel,
E. F. C. Young.
George J. Gould,
Edwin Gould,
EDWIN GOULD
President
WILLIAM H. TAYLOR
1st V.-Pres't.
CHAS. P. ARMSTRONG
2d V.-Pres't.
JOHN A. HILTON----3d V.-Pres. tc Treas.
WILLIAM M. LAWS
Secretary
THE AMERICAN MFG. CO.
MANILA, SISAL AND JUTE
WEBB & CO.,
INVESTMENT SECURITIES.
74 BROADWAY. NEW YORK
CORDAGE.
65 Wall Street,
New York.
@FedFRASER