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antial
1-)" The. A
VOL.94
JUNE 8 1912
tftorttrte
NO.2450
Published every Saturday morning by WILLIAM B DANA COMPANY.
Jacob Seibert Jr., President and Treas.; George S. Dana and Arnold G. Dana,
Vice-Presidents; Arnold (3. Dana,Sec. Addresses of all. Office of the Company.
OLEARINGS'-FOR MAY, SINGE JANUARY 1, AND FOR WEEK ENDING JUNE 1.
May.
Clearings al1912.
1911.
Five Months.
Inc. or
Dec.
1912.
1911.
Week ending June 1.
Inc. or
Dec.
1912.
1911.
Inc. or
Dec.
1910.
1909.
8
5,
2
8,779,777,488 7,958,624,010 +10.3 42,175,117,131 38,376,451,425 +9.9 1,604,324,535 1,721,899,845
New York
1,890,617,167 1,825,494,066
647,026,676 +3.7 :3,335,827,333 :3,158,33:3,864
Philadelphia
671,064,353
+5.7
132,611,792 173,728,437 -23.7 161,029,658 135,154,606
Pittsburgh
42,992,116
235,038,515
+9.5 1,113,715,343 1,061,167,490 +4.9
47.736,091 -10.0
214,028,411
30,837,468
50,596,78
Baltimore
:30,164,601
158,317,886
716,01:3,516
143,402,160 +10.4
781,491,961
+9.6
30,620,036 -1.5
29,016.931.
23,301,040
Buffalo
8,584,995 -8.4
4:1,354,107 +11.3
229,150,926
7,861,608
48,273,889
209,073,739 +9.6
8,988,639
7,659,733
7,933,531 -3.2
Washington
35,129,071
32,898,298 +6.8
7,690,474
155,281,742 +9.1
169,419,933
7,359,605
8,642,310
Albany
-4.6
5,222,995
23,970,16.5
25,661,275 -6.6
124,677,422
5,808,808
126,315,031 -1.3
4,980,713
4,970,379
-25.7
,700,
Rochester
100,161,684
20,904,521)
• 6,617,031
6,115,414
18,937,881 +10.0
88,352,550 +13.4
4,233,871
2,558,265, -10.1
Scranton
10,886,818
2,809,251
59,724,674
11,567,706 -5.9
60,027,936
2,300,000
2,514,693
+0.1
11,140,241 -2.2
10.900,802
2,491,446, -23.10
Syracuse
54,229,608
2,344,951
53,158,044 +2.0
1,896,113
2,429,548
Reading
6,912,733 +8.4
7,492,953
+1.2
1.439,543
37,136,053
1,334,123
1,642,836
33,556,121 +10.7
1,662,175
6,905,357
0,406,389 +8.7
1,461,257
Wilmington
33,510,325
1,419.766
+4.7
1,406,055 +2.8
32,008,194
1,446,536
6,153,574
+2.1
6,029,074
31,228,608
1,243,691
Wilkes-Barre
1,219,840
1,075,417 +4.2
29,611,645 +5.5
1,120,214
8,101,931 +13.0
9,1.59,916
Wheeling
41,235,857
1,644,026
1,847,663
36,515,151 +12.9
1,524,732 +17.4
1,790,197
7,373,1:14
(3,954,48.5 +0.0
Trenton
33,924,:322 +9.2
37,050,007
1,325,010
1,535,374
1,511,480 -15.7
1,274,137
5,907,900 -4.0
5,635,659
Harrisnurg
27,685,432
27,750,261 -0.2
Lancaster
4,350,021
6,359,823
+4.6
27,177,525 +34.9
36,656,317
1,066,812
1,331,949
942,276 +41.3
York
4,221,459 +2.5
4,327,332
21,728,480
20,960,217 +3.7
822,720
822,316
921,695 -10.7
908,289
Erie
3,818,174 +13.5
20,144,227
4,367,629
17,718,000 +13.7
802,870
657,399
788,588 +1.8
824,050
2,285,900 +14.9
11,169,400 +10.7
Binghamton
13,0:38,100
2,625,700
438,700
370,800
487,500
483,100
+2.3
Greensburg
2,435,651
12,402,228
12,460,586 -0.5
2,491,501
520,452
624,312
698,679 -25.5
689,013
Chester
2,337,636 +6.5
11,569,734 +6.3
12,294,514
2,488,154
477,914 +8.9
520,130
469,541
495,486
1,055,838 -2.6
Franklin
4,997,:365 -1.3
4,933,008
1,027,375
• •
2,032,33:3 +13.3
Altoona
9,699,774 +8.2
2,303,569
379,466 +3.2
10,499,685
392,031
391,735
358,328
1,143,482
1,095,471
6,275,461
+2.4
Frederick
6,130,291
2,010,256
2,157,365
10,511,905 -2.9
Beaver County, Pa
10,201,702
2,083.015
9,776,981 -0.3
1,988,613 1:4.8
9,742.815
Norristown
Total Middle
10-0-6-8,371.6/2 0,175,354,640 +9.7 -487512,590,03 17i80,698 2,018,3-28,379
2,178,215,651 ,067,794,20
4-4,339,41o,9
r..85
Boston
716,086,411 • 646,660,029 +10.7 3,902,891,634 3,477,110,181 +12.3
129,127,154 147,950,735 -12.7 134,499.008 138.836,969
Providence
36,500,400
33,492,400 +9.0
6,810,900
183,423,400 • 172,750,400 +6.2
6,754,100 +0.8 • 6,370,500
8,896,900
Hartford
21,860,757
18,977,742 +15.2
4,347,609 -13.2
3,771,319
105,396,248
4,131,639
3,587,067
93,315,036 +12.9
New Haven
1:3,264,275
12,659,557 +4.8
2,735,629
2,: 65008 -1.8
2,576,379
2,813,859
65,006,591
62,825,806 +3.5
Springfield
13,028,866
2,'. 67,719 +8.2
9,787,736 +33.1
23.6
• 2,208,384
2,236,889
1.800,000
46,434,438
57,395,280
Portland
9,266,293
8,330,066 +11.1
1,7 11,255 -10.7
1,528,939
1,550,584
1,690,177
48,339,511
16.0
41,661,284
Worcester
9,753.214 -1-14.0
11,128,570
2,728,488
1,566,739
2,062,583 +32.3
.56,932,219
1,959,838
49,044,741
16.1
Fall River
5,099,896 -6.1
4,786,051
906,777
839,293 -11.9
25,873,694
739,177
996,300
25,057,370 +3.3
New Bedford
836,163
4,322,008 -1.3
4,260,179
774,343 -10.7
835,249
21,701,241
21,773,206
691,163
+0.3
Lowell
2,587,533 +0.5
2,600,339
441,912
12.130,588 -0.1
12,107,150
448,704 +0.3
450,000
432,500
Holyoke
2,844,141
12,441,020 +12.0
2,651,225 +7.3
564,336 +12.2
13,930,958
481,757
578,612
633,339
Bangor
+8.5
8,528,1:32 +18.3
1,864,611
10,091,053
2,023,990
425,334 -10.1
382,556
Waterbury
4.240.000 Not ineluded In total
11.27:3.100 Not included In total
Total New England
756,198,777
837,656,218
151,913,78.3 170,811.019
155,748J014 162,185,069
-47593,161,631 4,023,015,216
1,322,635,932 1,194,672,572 110.7 6,340,350,606 5,722,921,408 +10.8
Chicago
241,114,239 249,818,246 -3.5 245,334,708 258,466,267
104,323,200
125,887,200
20.7
Cincinnati
21,588,751)
585,661,700
22,005,800 -1.9
542,893,100 +7.9
20,389,600
23,502,950
80,275,571
92,393,672
444,722,265
13.1
Cleveland
401,575,400 +10.7
16,195,115
15,:377,213 +5.3
15,764,011
13,950,900
98,850,593
84,313,115 -1-17.2
Detroit
441,465,658
17,454,252
15,673,593 +11.4
15,164,568
12,800,000
+15.7
64,912,0:33 +7.0
58,740,329
Milwaukee
11,038,521 +10.2
288,8 11,9 44 +3.2
11,151,366
11,173,628
10,361,885
298,135.207
40,185,240
34,706,119 +15.8
Indianapolis
181,351,614
+0.7
6,954,101
7,000,000
7,757,938
180,486,119 +0.5
7,061,631
27,767,500
Columbus
23,041,900 +17.4
4,785,500 +0.1
5,637,200
5,077,300
132,435,209
123,037,290 +7.6
5,272,700
Toledo
19,829,099
20,840,001 -4.9
3,473,233 -3.4
3,355,321
99,158,263
3,192,676
104,364,930 -5.0
3,105,370
Peoria
13,488,125
12,595,936 +7.8
2,458,981 +11.9
72,416,446
2,709,953
2,750,000
67,241,388 +7.7
2,566,636
Grand Rapids
13,500,768
11,847,528 +13.5
2,251,705 +15.7
2,450,613
2,604,351
56,002,955 +19.3
66,785,588
2,219,197
Evansville
10,006,152
10,740,751 -6.8
2,141,513
1,997,010 -20.2
51,169,445 -4.1
1,593,783
49,081,859
1,667,656
Dayton
9,384,203
9,292,735 +1.0
1,761,055 -2.4
1,950,505
46,396,541
1,719,509
46,505,103
1,763,710
+0.2
Kalamazoo
3,292,287
3,299,249 -0.2
593,361
585,807
580,532 -9.1
14,648,342 +9.7
16,075,970
527,901
Springfield, Ill
4,642,742
4,273,917 +8.6
967,648
26,051,481
1,037,898
848,260 -17.4
22,753,970 +14%5
720,632
Fort Wayne
4,876,025
4,706.342 4-3.6
876,022
975,442 -0.9
990,365
22,366,474 +5.5
23,601,940
967,049
Youngstown
5,788,730
4,250,415 +36.1
30,672,152
1,000,849
962,478
830,688 +32.5
24,485,733 +25.3
1,100,574
Rockford
:3,599,999
3,530,863
596,421
719,887 -0.8
17,494,200 +8.7
19,020,947
+2.0
798,664
713,854
Akron
9,384,000
4,170.000 +125.0
18,925,700 +94.5
940,000 +70.2
36,813,000
565,000
1,600,000
719,000
Lexington
4,465,761 -20.9
3,530,356
21,121,009 -2.2
749,497 -20.3
• 597,513
23,678,166
652,429
650,538
South Bend
2,639.029 -2.9
2,563,526
489,722 -6.4
11,531.668 +3.3
11,896,49:3
458,333
480,274
492,573
Quincy
2,675,811 +12.4
3,000,845
16,426,591
653,8.37 -0.4
15,681,641
650,995
+1.7
645,030'
570,000
Canton
4,495,836 +28.1
1,218,079 -11.2
1,082,528
26,751,619
21,089,407 +21.7
5,757.052
731,693
1,078,231
Bloomington
2,5.32,258 -0.5
2,518,374
674,552 -28.3
16,351,413
15,073,003 +8.5
483,730
689,080
500,968
Springfield, Ohio_ _ _
2,249,798 -0.3
2,243,705
589,888 -24.6
12,002,919
444,482
491,252
12,467,655 -3.7
379,986
Jackson
2,447,370
1,945,770 +25.8
11,116,223
375,000 +20.0
356.072
9,163,201 +21.3'
450,000
250,000
Decatur
2,095.010
1,726,860 +21.4
11,008,524
4.50,519 -17.3
9,233,386 +19.2
476,166
372,706
452,025
Mansfield
1,691,660
1,771,875 -4.5
9,310,549
420,482 -16.9
8,724.646 +4.4
297,749
271,099
349,507
Danville
1,688,986
1,876,054 -10.0
9,906,288
378,228 -16.3
9,556,160 +3.7
370,312
362,571
316,435
1,392,019
Jacksonville, Ill
1,269,952 +9.7
6,798,365
7,013,011 -3.1
269,537 -37.1
290,475
311,570
169,450
Lima
1,682,872
1,610,596 +4.5
8,503,955
7,836,773 +8.5
292,339 +20.2
332,143
351,791
303,294
1,750,518
Owensboro
1,767,184 -0.6
10,598,618
10,293,060 +3.0
372,970 -18.2
425,000
309,144
Lansing
2,121,410
1,713,835 +23.6
9,653,932
8,173,510 +18.1
1,832,143
Flint*
2,115,234 -13.3
9,09(3,421
5,658,601
Gary
917,534 +32.1
5,343,722
1,211,311
3,953,787 +35.2
Ann Arbor
821,131
4,107,215
892,587
+8.7
3,901,937 +5.3,
215,8671
200,000 +2.5
188,875
205,0001
Lorain *
423,22$ +6.6
2,444,648
456,360
1,818.694
Adrian
170.455
919,151 -13.1;
193.217 -11.8
799,056
25.709
26,881
22.581 -12.0
19,861
Total Middle West_ 1,001,03T,U2 1.70U3(7,73-1Th +11.8 71:0- 8
-:r 697 8,266,386,380 + 10.1
343,49E55i 349,646,99P -1.8 345,513T217 352,907,0.38
Details of Pacific and Other Western on page 1544.
Total Pacific
528,062,383
481,515,351
+9.7 2,651,115,939 2,321,116,491 +14.2
77,730,832
97,577,729
96,065.343
98,338.834
+0.4
Total Other West._
610,266,388
564,398,480 +8.1 3,007,105,306 2,865,960,040 +4.9
113,219,333 112,234,655
+0.9 120,95:3,727 106,899,857
St. Louis
350,325,543
312,915,917 +12.0 1,661,680,104 1,600,925,015
+1.5
3.8
69,728,786
66,488,303
70,797,982
_
58,917,820
New Orleans
77,056,565
419,938,552
90.397,105 -14.8
450,175,515
15,508,551 -0.6
15,409,310
7.2
12,644,575
13,595,394
67,086,594
11,6i8,302 +6.5
Louisville
297,295,674
53,786,704
324,619,611
24.7
11,764,997
11,684,611
12,086,508
Houston
68,070,040
24-1,308,875
43,381,975
365,766,181
+49.7
10,000,000 +40.0
13,997,953
11,380,612
10,382,64f,
56.0
Galveston
28,052,000
33,437,000
158,011,000 +20.7
190,762,000
19.2
6,630,500 -2.6
6,459,000
4,689,500
4,161,500
Richmond
35,363,809
34,094,107 +3.7
163,214,131 +12.8
184,194,809
6,150,000 +11.4
6,815,887
6,854,009
6,242,816
Atlanta
53,254,144
49,238,653 +8.2
260,641,547 +14.4
298,135,438
7,856,749 +23.6
9,707,410
7,140,171'
5,975,719
Memphis
29,282,316
3,806,219
27,140,740 +7.9
148,596,590 +14.5
170,160,993
5,214,574
+37.0
4,092,064
4,025,154.
Fort Worth
23,737,120 +24.0
29,442,303
130,981,054
3,721,874 +51.4
139,715.968
+6.7
5,634,462
4,912,055
5,413,79
Nashville
19,180,664 +41.7
27,173,102
90,231,575 -F35.1
121,922,483
3,026,350 +41.9
4,294.576
3,442,600
3,342.953
Savannah
21,334,583
20,187,389 +5.7
103,389,718 -1-17.3
121,347,949
3,327,483 +19.9
3,574,872
3,988,202
3,844,187
Norfolk
66,955,249 +13.8
14,031,123 +7.5
15,079,300
76,217,913
2,645,923 +3.2
2.546,195
2,730,401
2,633,091
Birmingham
55,854,841 +12.1
11,373,764 +15.5
13,138,838
1,803,688 +45.2
62,612,677
1,814,928
2,201,310
2,619,638
Jacksonville
62,222,919 +17.9
12,909,821 115.8
14,953,282
73,392,788.
2,113,811 +30.1
2,032,012
1,649,409
2,750,000
Chattanooga
9,293,320
39,617,671 +29.0
8,354,997
11.2
5,1112,052
1,689,500
1,025,000
1,400,000
1,574,504
Knoxville
8,751,984
7,556,879
36,798,320 +17.0
43,244,616
15.8
1,260,375 +29.2
1,443,367
1,628,666
1,332,807
Augusta
8,459,434
8,938,180 -5.4
52,360,742 --4.3
1,144,745 +43.6
50,096,851
1,066,772
1,643,142
1,217,233
Little Rock
8,602,454
7,885,261 +9.9
1,629,719 -12.6
39,189,323 +12.7
44,179,323
1,440,202
1,424,948
1,591,217
Charleston
7,878,846
6.910,41(3 +1:3.9
38,370,614 +11.6
42,815,726
+0.9
1,404,631
1,416,7:32
1,275,762
873,928
5,977,123
Mobile
33.229,514
0,297,310 -5.1
1,365,147
31,080,671
1,300,000
-4.8
-6.5
1,281,893
1,336,820
0,149,842
Oklahoma
9,030,805 -31.9
1,336.394 -26.7
46,673,305 -28.9
33,163.747
1,600,000
1,900,000
980,000
14,484,448
Macon
71,806,159 +15.5
12,294,180 +17.8
2,225,000 +21.3
72,930,819
513,212
2,700,000
725,000
2,198,585
Beaumont
2,401,733 -8.4
12,163,137
12,887,011
+5.9
8,237,314
Austin
13,656,910 -39.7
3,000,000 -33.3
56,760,216
60,730,176
2,000,0001
+7.0
575,139
805,722j
3,733,708
Columbia
3,648,875 +2.3
20,623.166
20,645,633 -0.1
3,377,110
3,352,502 +0.7
Wilmington, N.C_ - 16,421,417
17,136,085
661,043 -13.0
575,6201
+4.4
300,000
527,8731
1,830,710
Columbus, Ga
1,801,421
9,717,984 +11.5
10,833,207
+1.6
482,918
Guthrie
671,033 -28.3
4,571,180 -32.0
3,230,400
967,329
1,105,200
Vicksburg
-12.6
7.252,991 -0.5
181,662
7,213,759
183,979 -1.3
225,547
225,833
1,712,499
1,938,928 -11.7
Jackson
12,389,80' -10.6
10,332,455
278,393
266.918 +4.3
285,000
190,000
Meridian
1,274,935 +9.8
1,400,000
7,072,81
7.901,297
+11.7
Tulsa
3,025,015 -3.2
2,928,740
13,979,105 +1.4
14,181,053
437,850
515,628 -15.1
3,450,901
3,183,682
Muskogee*
-7.9
16,760,644
13,0011.293
587,759
604,055 -2.8
6,372.028
5.508.934 +15.7
El Paso
28.899,445
25.148,130 +14.0
Total Southern
846,095,698 +10.13 4,813,296,348 4,347,093,626 +-10:7 -1733:01,822 161,655,371
+8.71 156.820,748 143,088,286
Total all
14,883,285.507 13,524,593,344 +10.0 .72,591,104,423 66,162,968,670 +9.7 2,737,095 976,2,911,611,500 -6.0 3,053,311,703 2,912,585.297
Outside New York_ 6,Tda,508,0 9 C,S63)i19,334 +9.1 30,413.987,202 27,786,517,245
1,132,771,441!1,16-9,711.655 -4.8 1,162J194,538 1,087,091,23
PIP-Total Clearings by Telegraph and Canadian Clearings on page 1541.
Not included In total for month and five months; comparison incomplete.
-Fru,
t
t9.2
.
1528
THE CHRONICLE
THE FINANCIAL SITUATION.
A gleam of hope has this week appeared on the political horizon. It almost seems as if the tide which for
so many weeks has been so strongly setting in the
Roosevelt direction, had at last turned and were now
running in favor of Mr. Taft, leaving the latter after
all a possible chance of getting the nomination for the
Presidency. At the primary elections in South Dakota, Mr. Roosevelt swept the State, just as he did in
New Jersey a short time previously, the newspaper
dispatches giving him a plurality of over 15,000. But
that was not unexpected, and possesses no special significance, as many of these Far Western communities
are so steeped in unthinking radicalism that the candidate who does the loudest ranting and shouting,
Roosevelt fashion, is sure to get the bulk of the votes.
On the other hand, in Ohio, the President's own State,
where a convention was held this week to name the six
delegates at large to the National Republican Convention, and where the outcome seemed to be in doubt,
with the chances apparently favoring Roosevelt, the
Taft adherents were found to be in control, giving the
President these delegates-at-large. Of the district
delegates from Ohio, it will be recalled, Mr. Taft succeeded in getting only 8, while Mr. Roosevelt obtained
34; that he • should now get the six delegatesat-large was a wholly unexpected favorable development.
The course of events is also making it clear that the
contests which the Roosevelt adherents have engineered
all over the country against the Taft delegates to the
National Convention are not going to be so fruitful
in triumphs to the Rooseveltites as the latter had
hoped. With the Taft chances thus sensibly improved a much more cheerful tone has pervaded business and financial circles, infusing new confidence
into things.
There has been much talk this week about the possibility that Mr. Roosevelt may bolt the action of the
Convention—that anticipating defeat he may not even
wait for the temporary organization to be perfected
before taking this step. It would be most fortunate
for the country if he could be induced to run as an independent candidate and if at the same time he could
prevail upon William J. Bryan to run with him for
Vide-President on the same ticket. The political
doctrines of the two men are.identical, and their course
of conduct is also alike. Mr. Roosevelt wants to control the Republican Party and is prepared to wreck it
if he is not allowed to have his way. Mr. Bryan
claims the privilege of dictating the policy of the
Democratic Party and for sixteen years has exercised
a perpetual hoodoo over that party. With the two
running as independents, both parties could then say
good riddance to their evil spirits.
Roosevelt and Bryan! What a glorious ticket that
would be! All the malcontents in both parties would
flock to its support. Under the banner of these exponents of radicalism it'would be possible to make a
true test of the strength of radical sentiment throughout the country. We think these two precious demagogues would themselves be the most surprised over
the smallness of the popular vote for the ticket. At
any rate, the experiment would be of great value, for
it is in the highest degree important that it should be
definitely known how large a part of the people of this
country is in favor of establishing a new form of government and subverting our institutions.
[VoL. Lxxxxiv.
After several years' experience in radicalism, during
which the activities of the railroads have been crippled
and capital generally has been repelled, it behooves
every one to pause and consider whether Governmental
and legislative policies which serve to drive away
capital so sorely needed for the development of the
country's industries should be continued any longer.
We imagine the Western communities who have been
conducting such an active campaign against railroads
and corporate interests would not willingly and wittingly do anything that would be harmful to their
own interests. It seems important, therefore, that the
eyes of the so-called "Progressives" should be opened
to what is actually going on. Every one cognizant
of the facts knows that new capital has been going only
slowly into our railroads during the last two years—
since the Inter-State Commerce Law has been amended
and the Commerce Commission has been wielding the
tremendous powers granted to it under the amendment, to the detriment of the roads—while a feeling
of timidity has also prevented new capital from going
into industrial undertakings generally. With this fact
admitted there seems startling significance in the circumstance that though the United States has been able
to obtain only indifferent supplies of new capital,
Canada has been getting such supplies in increasing
amounts. This shows that the Dominion has been
gaining at our expense. That is precisely what any one
familiar with the circumstances of the case would expect.
Canada has done everything to invite and attract
capital, while we have done everything to repel it—
to discountenance its use. We in the United States
have been treating accumulations of wealth as if they
were a crime,and opprobrium has been heaped upon
the possessors of large fortunes. Canada, on the other
hand,has opened its doors wide—has sought in every
way to induce the investor and the capitalist to come
in. Those guiding its destinies have said, in effect:
Here you will find limitless opportunities to gain a
good return and to acquire large wealth by intelligent
application and foresight. Avail of these opportunities and you will reap the reward, while conferring untold blessings upon Canada itself.
We need hardly tell the reader that the Dominion
the last few years has been enjoying unexampled prosperity and growth, while the United States as a whole
has been standing still, and certain parts of the same
have been actually retrograding. The cause of these
varying results in two contiguous countries, both
equally favored by nature, is found in the difference
in the attitude assumed towards capital. Canada has
been getting all of this stimulating sustenance it
needed, while we have been getting only very limited
amounts, as already set out.
These are very general statements, but the statistics
fully confirm them. We imagine it will be a surprise
to most persons to learn how large has been the inflow
of new capital into Canada. The aggregate is really
reaching huge dimensions. The Dominion Securities
Corporation through E. R. Wood, its President, has
for some years been collecting statistics bearing on new
Canadian bond issues, and from these statistics for
the calendar year 1911 we learn that in that period
of twelve months the grand aggregate of new loans
floated was far in excess of any previous year.. Mr.
Wood says that the new record is all the more significant when it is remembered that during the preceding
year the borrowings of Canada had been unusually
heavy. Mr. Wood also notes that Canadian bond
issues continue to be held in highest regard both at
JUNE 8 1912.]
THE CHRONICLE
1529
Is it a wonder, under these circumstances, that the
Dominion is thriving as never before in its history?
The simple truth is, that capital is being diverted
from the United States to Canada—that is, money is
being invested in Canadian enterprises which would
gladly find lodgment here if the conditions were equally
satisfactory. What is most important of all, those
Western communities in the United States which are
unfairest in their treatment of railroad and other investments, are themselves the severest sufferers from
their own foolish policy. In support of this statement
we will cite again some statistics given by us three
months ago, these also being for the calendar year.
We have reference to the great contraction that
occurred during 1911 in new building operations in the
thriving cities in the Pacific section of the United
States. At Seattle the outlays represented by the
plans filed for new buildings aggregated only $7,491,156 in the calendar year 1911, against $17,163,078
in the calendar year 1910 and $19,044,335 in the
calendar year 1909. At Spokane the outlays represented were only $3,314,780, against $5,883,484 in
1910 and $8,766,226 in 1909, and at Tacoma and
North Yakima combined they were only $2,616,83g,
Government
Grand
Municipal Corporation
Total of
Total.
Bonds.
Two.
Bonds.
Bonds,
against $3,481,448 and $5,942,764, respectively. Some
1906
89,087,008 $35,694,000 $44,781,008 $9,206,000 $53,987,008
73,361,740 9,274,000 82,635,740 cities, for local reasons, make better comparisons than
58,931,200
14,430,540
1907
88,975,000 136,408,911 77,598,500 214,007,411 others in the matter of these new building
47,433,911
1908
projects,36,278,528 132,432,500 168,711,028 96,447,224 265,158,252
1909
35,748,600 140,251,900 176,000,590 55,000,000 231,000,590 but it is significant how general and large the declines
1910
47,159,288 213,978,700 261,137,988 5,675,000 266,812,988
1911
were as a rule in the Western half of the country at
The amounts of the Canadian Government loans widely separated points. At Salt Lake City, for inhave varied greatly from year to year, the Dominion stance, the new building projects in 1911 footed up only
itself having been in the market for large amounts in $3,159,600 in 1911, against $4,461,600 in 1910 and
some of the years. It will be observed that we furnish $8,077,820 in 1909, while in Denver the outlays repa total for each of the years independent of the Gov- resented were only $6,086,260 in 1911, against $11,ernment loans. It is in this way that the results 319,955 in 1910 and $11,553,983 in 1909. On the
become most impressive, a steadily rising aggregate other hand, in the Dominion of Canada the outlays
being displayed year by year, showing that confidence represented by 15 cities in the Canadian Northwest
in the stability and integrity of Canadian corporate were no less than' $73,911,971 in 1911, against $49,investments has been steadily growing, whereas in the 076,142 in 1910, only $28,722,797 in 1909 and but
United States the reverse has been the case. In $18,998,748 in 1908. It is plain that the money that
1906 the aggregate of Canadian municipal and corpo-. might be invested in developing the'United States is
ration issues was only $44,781,008, in 1907 it was going into the Dominion. With the demand for
$73,361,740, in 1908 $136,418,911, in 1909 $168,- labor in the United States reduced and the influx of
711,028, in 1910 $176,000,590, while now for 1911 the new settlers in large part cut off, thereby diminishing
amount is no less than $261,137,988.
the prospective demand for new dwellings, the work of
It must not be supposed that the aggregate of $266,- erecting additional structures is necessarily curtailed—
812,988 of new loans floated (including Government as a matter of prudence if for no other reason. Cannot
loans) represents the whole of the new capital issues our Western friends see that they are shortsighted
by Canadian concerns during the calendar year 1911. and arb standing in the way of their own progress?
It does not cover, for instance, new stock issues. The
Just before the Chicago Convention formally opens,
Canadian Pacific, which always issues capital stock to
finance the greater part of its important extensions we have from Mr. Roosevelt himself a distinct stateand improvements, has put out all by itself since ment of that for which he now stands. He publicly
Jan. 1 1910 $30,000,000 of stock at 125, yielding condemns what he calls "the reactionary Bourbon$37,500,000, and $18,000,000 at 150, yielding $27,- ism" of the last New York Republican platform. That
000,000. Mr. Wood, in the pamphlet already referred platform reaffirmed "faith in those fundamental printo, takes pains to point out that the proceeds of bond ciples of government established in the United States
sales constitute only a small part of the stream of by the adoption of the Constitution"; declared that
capital that is pouring into Canada to assist in the "this is a self-controlled representative democracy";
proper development of its large areas and enterprises. that "order is the prerequisite of progress," and that
The sum of money brought in by settlers alone reaches the guaranties in the Constitution "shall be forever
a very considerable sum. This is more especially true, preserved." More specifically, the platform affirmed
it is stated, of those who come to Canada from the "the fundamental consideration that public servants
United States. Investments from abroad in Canadian shall be soberly elected rather than carelessly elected
real estate and in Canadian timber and mineral re- and then cashiered"; condemned as "subversive of our
sources cannot be accurately determined, but are form of government the initiative, the compulsory
known to be of large amount, and Mr. Wood says legislative referendum and the recall, either of public
there is every reason to suppose that capital through servants or of judicial decisions"; and declared that
these sources is showing the same proportionate in- "we oppose the recall of judges or any system which will
crease as has occurred in the case of the bond sales. introduce cowardice as an element in the administra-
home and abroad. This indicates a confidence, he
well says, based on the natural wealth of the country
and the energy and integrity of the Canadian people.
Emphasis should be laid on the word "integrity,"
because under the antagonistic Governmental policy
pursued in this country, there is often doubt now
whether the integrity and stability of the properties
is to be preserved.
According to the records thus kept, it appears that
during 1912 $47,159,288 of municipal securities were
put out, $5,675,000 of provincial Government loans,
no less than $100,472,700 of new railway loans,
$32,105,500 of loans by public service corporations,
$54,580,500 of loans by miscellaneous corporations
and $26,820,000 of bonds by Canadian corporations
operating in foreign countries. This makes a grand
aggregate of $266,812,988. The contrast in this
respect with earlier periods is very noteworthy. In
the calendar year 1907, for instance, the aggregate
of new Canadian loans floated was only $82,365,740,
and in the calendar year 1906 but $53,987,531. In
the following table we show the sums under each head
for the last five years:
1530
THE CHRONICLE
tion of justice"; "the authority of the judiciary should
not be impaired."
This is unqualified, unhesitating and exclusive of
any question about its meaning. It is essentially the
same position as was taken when the first Republican
General Convention met, just fifty-six years ago, and
declared that maintenance of the principles promulgated-in the Declaration and embodied in the Constitution, "is essential to the preservation of our republican institutions, and that the Federal Constitution,
the rights of the States and the Union of the States
shall be preserved."
It is useful now and then to re-examine original principles, especially when there has been some gradual
departure from them. A "Bourbon", we may admit,
is not an admirable person, since that is one who is
hopelessly immovable, unable to either learn or forget;
but a reactionary is one who returns or desires to return. The word has been flung out with sneers, and
it is openly asserted that not a State desires to preserve
representative, orderly, stable government as defined
in the platform above. We have been having from
Mr. Roosevelt many new phrases with a catchy sound
but without definite meaning; new nationalism, charter of democracy, progressive, liberal, the right of the
people to rule, abolition of bosses, and so on, all mixed
in his unending stream of rhetoric and frenzy. But
now he renders one timely service by telling us what
he would destroy: repi'esentative government, Constitutional authority and guaranties, permanence and
independence in the judiciary. He would tear down
all that is established and old, and he has not proposed
one solitary, definite thing in its place. Direct legislation by the people; judicial decisions reviewed and
subject to recall by popular vote; the judges themselves
pulled down as soon as their interpretations of laws
and constitutions displease; legislators and all public
officers mere puppets, moving as their strings are
pulled—this is all, and it is destructive, not constructive.
This might permit a despotism for a time, but it is
not government at all—it is merely chaos. While it
lasted, it would be tearing down our Governmental
structure, which has stood for a century and a quarter,
and would leave only the fragments. Nobody supposes—yet—that such a course is really to be undertaken; but if it were, the result would be that, after
convulsions which nobody can quite foresee, a reaction
would set in, and a distressed people would gladly
yush to re establish order.
It is well to have the program so distinctly avowed.
-Continued business activity is indicated by the
returns of bank clearings for the month of May 1912.
It is true, ot course, that, quantities being equal, the
higher prices for many commodities this year would
account for a greater flow of money through the banks
than a year ago, but that only in part explains the
current augmentation in clearings. Nor is the improvement due in any noticeable degree to speculative activity. The fact seems, to be, and it finds
confirmation in various ways, that in most commercial
and industrial lines a satisfactory volume of trade is
being done. The steel industry has been very active,
the orders booked in May being estimated at upwards
of 234 million tons of finished products, this reflecting
large structural operations as well as important railroad work. Railroad earnings also in many instances
are showing increases over a year ago, clear evidence
of a larger volume of traffic moving.
[VoL. Lxxxxiv.
Our returns of clearings for May 1912, given on thefirst page of thisi issue, show that New York, and the
aggregate for all other cities as well, exhibits a very
satisfactory increase over the corresponding month
of 1911. Of course, every individual city does not
make a better showing than last year, but it is a fact
nevertheless that practically all .important trade
centres (New Orleans being the exception, and not
unnaturally so in view of the floods in the Mississippi
Valley) report a greater volume of clearings than in
the month of 1911 and a number of the smaller municipalities record very large gains. Losses, needless to
say, are in the main small. In all, 113 of the 150
cities included in our compilation exhibit totals
heavier than a year ago.
• The aggregate of clearings at all cities for May is
$14,883,285,507, against $13,524,593,344 in 1911, or
a gain of 10%, and, contrasted with 1910 and 1909,
larger increases are shown. For the five months there
is an excess over 1911 of 9.7%. At New York the
augmentation in clearings this year is 10.3% for the
month and 9.9% for the longer period. Outside of
this city the totals mark a new record, May exceeding
1911 by 9.7%, with the five months' increase 9.5%.
Operations on the New York Stock Exchange were
characterized by alternating periods of extreme dulness
and moderate activity, with the aggregate transactions
for the month a little greater than for May of 1911.
The course of values was downward the first few days
and then upward until near the close, when prices
fell off to about the level reached in the earlier decline.
Sales of stocks for the five months of 1912 totaled
62,166,819, against only 43,919,589 shares in 1911,
but contrast with an aggregate of no less than 81,548,071 shares for the period in 1910, still greater totals
in 1907, 1906 and 1905, and as much as 156,260,134
shares as far back as 1901.
Canadian clearings for May were in line with those
for earlier months of the year in making a very satisfactory showing, new record totals having beenreached at most cities. The aggregate for the 18
cities reporting comparative figures is for May 1912
26.5% more than for the month in 1911, while for the
period since Jan. 1 the augmentation is 24.4%. Edmonton, Saskatoon, Regina and Winnipeg are conspicuous for the magnitude of the gains shown.
Commercial failures continue large in number and
heavy in amount of liabilities, the result for May 1912,
as disclosed by reports to Messrs. R. G. Dun & Co.,
being an aggregate of insolvents. greater than for the
same period in any former year except 1908, and a.
volume of indebtedness exceeded only in 1900. The
first inference drawn from this is of some unsoundness
or inherent weakness in the business situation, but
a partial explanation, at least, of the apparently
excessive mercantile mortality is to be found in the
small amount of capital with which many concerns
attempt to compete with long-established and strongly
rooted firms. Starting with the handicap of very
limited funds, the failure of business to quickly
materialize, or slowness of collections or a little temporary stress forces the concern to the wall. The
high level of prices ruling also operates to the detriment of such concerns. In May an unusually large
number of failures for amounts under $100,000 was
reported among manufacturers.
Messrs. Dun & Co's. compilation for the month of
May 1912 shows that the indebtedness of all insolvent
concerns in May (1,204 in number) reached $15,-
•
JUNE 8 1912
THE CHRONICLE
277,462, against $13,469,789 in 1911 and $9,590,186 in
1910 with the high total for the period $23,771,151 in
1900. In the trading division the May liabilities were
the heaviest ever recorded for that period. At $7,594,751 they contrast with only 6 million dollars in
1911 and not quite 4 millions in 1910. Of the fifteen
branches included in this division all but four report
greater indebtedness than a year ago. Disasters
among manufacturers during the month covered debts
of $6,279,293, against a little less than 6 millions last
year and only $3,677,256 in 1910.
For the five months from January 1 to May 31 both
the number of failed firms and the aggregate of liabilities are also greater than for the period of 1911 and
much above the average of earlier years. The number
of insolvents at 7,311 exceeds that of any year except
1908 and the liabilities, at $95,164,512, compare with
only 90 millions in the preceding year and fall below
but two years since 1893: viz., 1908 and 1910. The
trading division accounts for 433/i million dollars of the
five-months' indebtedness this year against 43 1-3
millions in 1911 and 33 millions in 1910,in manufacturing lines the contrast is between 39 millions, 38 1-3
millions and 41 millions, and among brokers, &c.,
between 123/ and 83' and 263 millions.
Failures in the Dominion of Canada in May were
smaller in number and amount of debts than in any
previous month of 1912 and compare very favorably
with the corresponding period of previous year.
Liabilities reported were $652,733, against $1,144,933
in 1911 and $1,089,593 in 1910. Each of the various
divisions share in the improvement over last year.
For the five months of 1912 the aggregate liabilities
of all failed firms reached only $4,518,420, against
$5,363,229 .in 1911 and $8,809,543 in 1910.
Cotton condition reports issued recently under
private auspices, as well as the official Government
report made public on Tuesday last, failed to confirm the pessimistic rumors as to the status of the crop
that had been in circulation. It is true that the
official report of the Department of Agriculture made
the average condition in the whole belt on May 25
lower than for the same date in any year since 1907,
but not materially below any of the years except 1911.
Furthermore, the gist of the private advices, including
our own, since the date down to which condition percentages were brought has been that the weather
has been quite favorable as a whole with consequent
improvement in the outlook. The report of the Department makes the ,condition 78.9 on May 25, this
comparing with 87.8 a year ago, 82 in 1910 and a tenyear average of 81.5. As regards the condition in the
various States, it is to be noted that the greatest deterioration as compared with last year is reported as
a rule in those localities where overflow has occurred.
On the other hand, condition in the Carolinas is given
as better than a year ago and in Texas only a very
little under last. year. The report is, of course, of
very little value except as a basis from which to make
deductions a month later. It happens that a condition of 87.8 on May 25 last year has been followed
by a phenomenal yield, but in 1908-09 (with condition
79.7 on May 25 1908, or only fractionally higher than
this year) over 200 pounds lint per acre was obtained,
and with a lower condition than now on May 25 1905
a good crop was secured. • The conclusion we have
reached from our own reports is that the cotton crop
is now in good condition, but backward as a rule.
As to acreage, the Government will make no report
1531
until July,and our own statement has been deferred
until June 19 on account of the overflow in the Mississippi Valley.
The proposed loan of $300,000,000 to China to be
furnished by bankers of six nations is still in a state
of deadlock. There is no question about the amount
of the loan, or the security, or the bankers' remuneration. The entire stumbling block seems to be the
question of foreign supervision, the bankers insisting
upon an oversight of the expenditures in order to
prevent the squandering of the funds by corrupt
official practices, which, unfortunately, are so intimately interwoven with Chinese Governmental affairs.
The fact that the representatives of the Chinese Government are so unalterably opposed to such supervision,
notwithstanding that the financial straits of the new
Republic are so severe, is evidently regarded by the
bankers as a sufficient reason for pressing their demands
on this specific point. Dispatches received by our
State Department this week indicate that not only
Japan, but Russia, will finally agree to participate
with the four other Powers in the loan. This result
when the question of surveillance has been settled, is
expected to make the loan an absolute certainty,
despite the pessimistic reports emanating from the
bankers' conference at London, whence it has been
reported that Russia has refused to co-operate further
with the United States, Germany, Great Britain and
France. Reports recently published stated that
Japan was about to break with Russia on the subject
of financing China, but these have not been confirmed
by information reaching the State Department. It is
not at all likely that the recognition of the new Republic of China will take place before the Republic
has made arrangements with the bankers of the
Powers for satisfactorily financing its government.
Until China is assured of sufficient funds to carry on
an orderly and stable government none of the Powers
is likely, in the opinion of State Department officials,
to accord her recognition as a Republic.
A new principle seems to have been introduced in
the British labor situation that may have far-reaching
effects. This is an offer of labor organizations to
guarantee good faith and responsibility of their agreements with employers by a deposit of the funds belonging to their associations. The strike of the transport
workers in London has been dragging along, the
employers having refused to enter into any agreement
with the workers on the ground that the latter refuse
to be bound by agreements and that, therefore, it is
useless to confer with them. In response to this
attitude of employers the Chancellor of the Exchequer,
Lloyd George, announced in Parliament on Welliesday that he had received an offer by the Transport
Workers' Federation of monetary guaranties for the
observance of the awards made by the joint board
which the Government proposed to establish. Details
of the amount of funds to be deposited by the workers
have not been reported by cable, nor of the methods
of deposit that would make the financial guaranties
serviceable. But they were evidently not satisfactory,
for the employers still persist in their refusal to
take part in any conference with the workers as
proposed by the Government; and it is now threatened
by the Workers' Federation that the strike shall at
once be converted into a national one instead of being
confined to the London water-front. The interference
with shipping, especially the import trade, is proving
1532
THE CHRONICLE
a source of great inconvenience to London merchants,
who are finding difficulty in negotiating their drafts
because of their inability to obtain export bills of
lading. Thus the English banks are being called upon
to aid exporters on quite a large scale. The British
Government, through Mr. Lloyd George, has advocated a joint conciliation board, composed of representatives of the employers and the employees, which
had already been suggested by the strikers, and the
Chancellor expressed a belief in the House of Commons
that if moderation were shown by both sides there
would be no difficulty in reaching a settlement.
He said that Sir Edward Clarke, who had made a
thorough investigation, had reported that both sides
were to blame. Nevertheless, he did not think it
was the business of the Government to step aside
and let the parties fight it out. The Transport
.Workers' Federation had agreed to the principle
of a joint board with monetary guaranties from the
two sides to insure the carrying out of agreements.
For the first time, the owners had a substantial guaranty that where a bargain was entered into by the
men it will be carried out. The men, the Chancellor
added, were entitled to ask the same guaranty from
the masters.
Belgium is in turn having its troubles with Socialism.
A wave of rioting and of destruction of property has
spread over the country as an expression of Socialist
resentment of a Clerical victory at the polls on Sunday.
The Socialist leaders seem to have entirely lost control
of their followers. A general strike in the coal mining
district in the Province of Hainaut has added to the
general confusion and cable advices from Brussels
state that there are now 100,000 men on strike. The
energetic measures that have been adopted by the
authorities are beginning to have an effect. The
strike has spread over the entire Liege Basin and
has tied up most of the collieries and metal industries.
Many industrial proprietors are reported to approve
of the strike and to be sympathizing with the men.
The Socialist leaders declare that they made a mistake
in entering into a coalition with the Liberals and
henceforth will struggle separately. The new Chamber
of Deputies will contain 101 Clericals, 41 Liberals,
39 Socialists and 2 Democrats, thus contributing a
Clerical majority of 16 over the Opposition coalition.
The educational fight, which is the principal cause of
the present disturbances is explained by a Brussels
cable as follows:
The Belgian schools are either church or public,and
are managed or subsidized by the communes. In the
non-clerical communes there is a tendency to subsidize
only the public schools. The desire of the clerical
Government is to place church schools on the same
footing as public schools, funds being provided by
the communes, province and State. The Opposition
urges that the church should pay for its own schools.
The Liberals, who decided that the industrial masses
really craved universal suffrage, added this measure
to the joint Liberal and Socialist program, which
included abolition of the plural system of voting,
which gives some persons two or more votes. Fatherhood and a small money qualification entitle one to
two votes, while educational qualifications give a
third. The Socialists assert that this strengthens
the Conservat ye,or Clerical, force at the expense of
the masses in the urban and manufacturing centres.
[VOL. Lxxxxiv.
Government is displaying commendable patience
and has done nothing thus far that can be interpreted
to mean intervention. For the present, the four
battleships comprising the Fourth Division of the
Atlantic Fleet, which are due at Guantanamo Bay,
with the gunboat "Paducah", which is lying off
Daiquiri, will constitute all the United States naval
force that will assemble in Cuban waters. An emergency appropriation of $65,000 for the expense of the
marine expedition to Cuba has been requested from
Congress by the Secretary of the Navy. A letter from
Major-General W. P. Biddle, Commanding General of
Marines, accompanied the request. He said that
2,035 enlisted men and 69 officers had been dispatched
to Cuban stations. General Biddle added that sixty
days' rations had been furnished, that $25,000 was
needed for ammunition and arms, $15,000 for transportation and $25,000 for miscer aneous supplies.
It is the present intention of our Government to keep
the Third Division of the Fleet at Key West, so that
there may be an adequate force within five hours sail
of Havana to deal promptly with any outbreak that
might exceed the power of the Cuban troops and
police. Preparatory orders were issued by the General
Staff of the army yesterday for the dispatch of a military expedition of 5,000 troops to Cuba. At the War
Department it was emphatically stated that if the
expedition did go to Cuba, it would not be with
any thought of political interference in the affairs of
the Island Government.
President Gomez has informed the State Department
through American Minister Beaupre that he is forming
a voluntary guard to protect foreign property and asks
that his recent order for Krag-Jorgenson rifles be
increased from 5,000 to 10,000 and that 2,000,000
cartridges accompany them. American marines were
on Wednesday landed on Cuban soil, 450 having been
put ashore at Caimanera, whence they proceeded by
train to Guantanamo. The landing was in response
to an urgent appeal to the Commandant of the United
States naval station by the Chamber of Commerce
of Guantanamo to afford protection to foreign estates,
which Cuban Government forces have been unable
effectively to guard. The Cuban Senate has refused
to grant the request of President Gomez for power
to suspend the Constitutional guaranties and to place
the entire Republic under martial law. An exception
to the refusal was made in the instance of Santiago
Province, where most of the disaffected negores are
located. There seems to be a considerable faction in
Cuba who believe that President Gomez is seeking
political advantages for his own re-election out of the
political uprising. No practical progress seems thus
far to have been made in suppressing the insurrection.
Military operations in Mexico have been indecisive
so far this week and advices from the opposing armies
have been highly conflicting. While it has been
reported from Government sources that General Orozco
has been clearly defeated and will be forced to sue for
peace in the near future, news comes from General
Huerta, commanding the Federal army, that he has
fallen back from Jimenez to Rellano with his army
and the advance of the Federal army on Bachimba
near Chihuahua City has been delayed. General
Huerta's explanation is that he had to retire because
of difficulty of obtaining supplies. The German
The promises of President Gomez that the uprising Government hasforwarded an official demand to the
of the negroes in Cuba would be promptly suppressed Mexican Government that the latter show cause why
show few signs of being fulfilled. Nevertheless, our German citizens in Mexico are not being protected
JUNE 8 1912.}
THE CHRONICLE
from insurrecto and bandit raids. This explanation
has been demanded as a result of the murder of Hugo
Bee11, a German citizen of San Miguel, Durango. The
National Railways of Mexico on Thursday resumed
regular passenger service between Torreon and Durango and between Torreon and Jiminez,covering areas
in the heart of former rebel territory.
1533
of the £850,000 South African gold offered in the
open market on Monday (India for the first time in
many weeks taking only £100,000 instead of its usual
purchase of £200,000) and in addition bought quite
freely of the precious metal over the counter, taking
one block of £257,000 on Monday besides the South
African gold and on the same day received £8,000 from
France. The total bullion holdings, £40,685,454,
register with one exception, namely £41,947,528 in
1910, the high-water mark for the corresponding week
in the Bank's records. One year ago the total was
£38,803,400. The reserve increased £1,195,000 and
the proportion to liabilities showed corresponding
improvement, amounting to 48..44%, against 46.76%
last week and 52.55% at the corresponding date last
year. The market paid off £853,000 to the Bank in
loans but the loan item is still the least favorable
feature of the Bank's statement, showing (according
to the item "other securities") a total of £35,631,000,
-which compares with £28,890,450 at this date last
year. Public deposits deprived the market of £1,224,000 and there was a decrease in other deposits
of £895,000. Notes reserved increased £1,222,000
and notes in circulation showed an expansion of
£130,000. Our special correspondent furnishes the
following details of the gold movement into and out
of the Bank for the Bank week. Imports, £1,485,000
(of which £23,000 from France and £1,462,000 bought
in the open market); exports nil, and shipments of
£160,000 net to the interior of Great Britain.
Private foreign discounts are easier in London,
though distinctly firm on the Continent. The closing
quotation in Lombard Street as quoted by cable
1 for. both sixty and ninety-day
yesterday was 2%
spot and to-arrive. A week
acceptances
bankers'
was
range
3@338% for sixty day bills spot
ago the
For ninety day bills the spot
ve.
to-arri
2Y%
and
rate at the close of last week was 3 1-16% and forward
%%. London bankers
bills closed at 2 13-16@23
are now expecting fairly easy conditions in the money
market, with possibly a temporary tendency towards
stringency at the end of the month when preparations
for the usual half-yearly disbursements and the
customary window-dressings will be experienced.
London cable advices, furthermore, report a continued
demand for new capital, which promises to increase
rather than moderate until the market shows signs
of repelling these applications. The week's offerings
in London include a New Zealand loan of £4,500,000
in33'% bonds. A City of Moscow loan of £3,800,000
in 4% bonds was offered simultaneously on the
English, German, Holland and Swiss markets at
96%%. Another demand on the London market will
The Bank of France in its weekly return reported a
be an issue of $5,000,000 in new 6% cumulative preloss
of 10,850,000 francs in gold, which can be acto
offered
be
to
railway
ference shares of the Brazil
equal
for by shipments of the precious metal to
counted
terms)
York
(New
par
existing shareholders at
by loans that were made to Germany by
and
London
Argentine
Central
The
London.
in
to about 103
railway is also to offer £3,000,000 of 43'% preference the French market to tide Berlin over the June payshares. Many other issues are in preparation, to be ments. The Bank's holdings are well above last year,
offered before the summer idleness commences, pro- however, amounting to 3,252,750,000 francs, against
viding that the digestive powers of the market are not 3,212,005,000 francs a year ago. The holdings of silover-strained, including a Danish Government loan ver increased 3,875,000 francs for the week. Notes
in circulation increased 15,925,000 francs, while genof £4,000,000, which will be issued at 97.
is
eral deposits recorded a reduction of 165,125,000
activity
evident
that
a
unusual
season
of
thus
It is
and bills discounted a loss of 274,600,000
francs
Bank
the
London
But
banking
circles.
in
hand
at
of England in this week's statement indicates an francs, both of which items suggest a return to
exceptionally strong position, both as regards the more normal conditions after the phenomenal subbullion account and its reserve. In Paris, while scriptions that were filed for the recent municipal
funds are ample for all legitimate purposes no dis- loan. Treasury deposits register a contraction of
position is being evinced to force them on the market. 56,125,060 francs and advances an expansion of 36,The closing private discount rate as cabled yesterday 025,000 francs.
was 2%% for all maturities, spot and to-arrive,
The German Bank statement was this week pubfor the week. An interest1
which is an advance of 4%
ing feature of the Paris financial situation is the news lished on Monday and was fully suggestive of the finanthat French bankers had been again lending to Ger- cial strain at the German centre, notwithstanding that
many on quite a large scale. We refer to this subject large French loans had been made to Berlin to fain greater detail in our review of the local money cilitate the June payments. Gold on hand indicated
situation. A further advance for the week is also a loss of 44,295,000 marks and gold and silver comshown in the Berlin private discount rate, the closing bined of 37,568,000 marks. Meanwhile, there was an
quotations, according to yesterday's cablegrams, increase during the week of 39,350,000 marks in loans
being 434% for spot bills, all maturities, and 4V% and of 72,890,000 marks in discounts. Deposits were
for bills to arrive. A week ago the closing figures were reduced 61,220,000 marks and treasury bills 1,285,000
4@43'%. No reduction in the official German Bank marks. Notes in circulation furthermore were issued,
rate is expected until the new quarter-year has fairly net, to the amount of 95,687,000 marks, but the outprogressed. Brussels closes %% lower for the week standing circulation is still much below the unusually
at 314% and Amsterdam remains unchanged at 3%%. high figure of a year ago, being only 1,656,668,000
The official Bank rates at the centres named are: marks, against 2,318,500,000 marks at this date in
London 3%; Paris 3%; Berlin 5%; Brussels 4%, and 1911. Cable advices quote the President of the German Reichsbank as having made another gloomy
Amsterdam 4%.
The weekly statement of the Bank of England speech, based on the tendency of that institution's
indicates an increase in its gold coin and bullion hold- financial status.
ings of £1,324,663. The Bank purchased £750,000
1534
THE CHRONICLE
[VoL. Lxxxxx v
On the local money market there has been no press- turing and distributing centres throughout the
counure of funds. In fact, the undertone may be regarded try. This has quite naturally followed
the improvesomewhat firmer for both demand loans and commit- ment that has unquestionably taken place
in crop
ments for fixed maturities—a result of a more cheerful prospects, especially in the direction of the
remarkable
mercantile sentiment that seems to have developed. recuperative qualities that have been
evinced in the
A:feature has been a sudden withdrawal of the Ger- winter-wheat sections and in the cotton
belt of the
man demand for New York funds. Whether this is South. Corn and spring wheat are of course
still in
likely, to,prove temporary is a question on which New an embryonic position, but it must be conceded
that
York banking interests are quite at sea. Recent ca- a marked improvement has taken place in the
harvest
bled advices suggesting mercantile as well as financial outlook as a whole from the highly discouraging
agriweakness certainly do not portend an easier situation cultural conditions that were current during
the early
in Berlin.. One large New York interest that has been part of the spring. Encouraging crop
prospects are
active as ft lender to the German centre has been sur- usually active forerunners of increased consumption
of
prised within the 'last week to find German balances food and raiment—and of luxuries even
more than of
accumulating in this market—in a small way, it is necessities; and with favorable promises for a satisfactrue, but nevertheless showing a distinctly different tory production and marketing of farm
products
trend from recent conditions. The explanation comes during the next few months, the agricultural
sections
by cable from Paris, however. French bankers of the country, which are such an important
part of
were lenders of large amounts to Berlin to enable the our population, are evincing a tendency to discount
by
latter centre to finance its June payments without the freer purchases this evidence of prosperity. Manufacexpected strain. These loans, we are informed, were turers and distributers, from the first-hand buyer to
for short periods, and it is understood are now being the retailer, are very alert to prepare for the increased
repaid. But it seems fair to assume, according to the demand by the consumer, and it is not as a rule diffiviews of w,‘ ell-infOrmed international bankers in New cult to trace the confidence and encouragement
in
York, that if Paris will break its recently-established business circles that result from favorable
promises
policy by making short-term loans, it will only be a for the country's harvests. Such a feeling of
confimatter of time when more cordial financial relations dence seems to be growing quite freely at the moment
will be resumed. Political considerations seem to be in mercantile and manufacturing circles. It is, of
becoming less of a factor in this direction, and there course, still subject to severe reaction should a correis really'no political issue at present between the two sponding reversal of agricultural conditions
become
countries that should encourage in any substantial evident. But in banking circles in this centre there
degree a continuance of the feeling that led to such a nevertheless seems evidence of an increasing belief
wholesale withdrawal of French funds from Germany that improved crop conditions are gradually expelling
at the time of the Moroccan crisis. Therefore, it politics as the main consideration of trade and indusseems fair to assume that it must be a question of cau- try, and a corresponding improvement in cheerfultion—a fear of the soundness of Germany's financial ness is being shown in money circles in New York.
and economic situation—that must be the real explanation of the reluctance that has been shown by the
Call money during the week has been confined within
French bankers to renew financial relations in a large the range of 23j and 3%,the higher figure having been
way with Germany. This naturally is a phase of the reached each successive day. On Monday 23/2% was
subject that is of interest to New York bankers, and the lowest, with 2 3% the ruling rate; on Tuesday
incidentally it may be observed that the repeated ad- 237
0 the lowest, with 2%% continuing the renewal
dresses of an alarmist character that have been made figure; Wednesday's lowest was again 23.1%,while the
by the President of the Reichsbank, by the Managing ruling rate was reduced to 2%%; on Thursday 23/2%
Director of the Deutsche Bank and by other financial was the minimum and 2% remained the renewal
authorities of Berlin are being very carefully consid- rate; Friday's lowest rate was 23% and the ruling
ered by American banking interests. Germany is to- quotation was 2%%. Time money closed steady at
day undoubtedly paying the penalty for over-expan- 3% for thirty days, which compares with 29@3%
sion based on borrowed capital. Her people are being week ago. Otherwise quotations are virtually withsubjected to oppressive taxation as a result, partially at out change, remaining at 3@3h% for ninety days,
least, of enormous military and naval expenditures, 31
/
1@3M% for four and five months and 33'% for six
and Socialism—quite distinct from social reform—is months. In some instances 33
4% is quoted for six
prevalent in the Fatherland probably to a far greater months. Mercantile paper is in somewhat better
degree than in other European countries. These are supply, which is another encouraging feature of the
considerations that not unnaturally bespeak caution trade situation. Nevertheless, buyers are inclined to
in the ordinary routine of international banking com- favor this branch of business and are quoting 39%
mitments. In addition to the French loans to Berlin, 4% for sixty and ninety days' endorsed bills receivable
Paris bankers are reported by cable to have taken over and also for four to six months' single-name bills of
a large amount of Mexican bonds, apparently for Ger- choice character; others are quoted at 43%.
many, and are now placing these bonds with investors
in France. They have also taken an issue of BudaSterling exchange has ruled rather irregular and has
pest bonds, which will also be offered in the French given distinct evidence of renewed speculative manipumarket.
•
'
lation. There seem, in fact, to be two sets of speculaAs'both New York and Chicago have recently been tors, namely brokers, on the one hand, and a number
responding to the German demands for funds, the sud- of large financial institutions on the other. The latter
den relaxation of that demand has naturally become a appear to be maintaining for themselves a constant
feature of importance'in' Our own money calculations advantage and to be making it quite precarious for the
for 'the immediate ffitUre.. Quite a substantial, brokers who try to follow them. Remittances on
though more or less indefinite, improvement is to be tourist accounts are a feature at the moment, although
noted in trade accbunts from representative manufac- the movement in this direction is not believed to be as
JUNE 8 1912.1
THE CHRONICLE
1535
heavy as last year; the wreck of the Titanic, steamship
With the Sub-Treasury operations, the result is as
pe ople agree, has made a perceptible reduction in the follows.
year's tourist business. The market, however, has
Out of
Net Change in
Into
Week ending June 7 1912.
Banks.
Bank Holdings.
Banks.
•remained about steady, and, to quote one large
Banks' interior movement,as above_ $14,321,000
$5,692,000 am n $8,629,000
drawer, it "can take a lot of exchange without declin- Sub-Treasury
28,300,000
4,200,000
24,100,000
operations
ing." The renewed entrance of French bankers into Total gold and legal tenders
$38,421,000 $33,992,000 Gain $4,429,000
t he German market is, of course, indirectly a factor in
The
the sterling exchange situation. Furthermore, the in the following table indicates the amount of bullion
principal European banks.
prospects of placing a good share of the new subway
June 6 1912.
June 8 1911.
bonds and notes abroad will undoubtedly become a Banks 01
Gold.
Silver.
Total.
Total.
()old.
Silver.
next
few
the
weeks,
preliminif,
during
in
fact,
feature
arrangements
not
have
already
is
made.
been
It
ry
a
England_ _ 40,685,454
40,085,454 38,800,400
38,803,400
France __ 120,682,400 32,687,080 162,369,480 128,479,600 34,284,600 62,764.200
understood that arrangements have been completed Germany..
45,104,650 17,800,00( , 62,904,650 42,292,300 15,963,750 58,256,050
Russia _ _ 150,288,000 7.934,000 158,222,000 145,062,000 7,727,000 152,789 000
Aus.-Hun 52,698,000 12,595,00( 65,293,000 55,810,000 13,077,000 68,887,000
for placing a not inconsiderable part of the $170,000,- Spain
_ _ 17,032,000 30,343,00( 47,375,000 16,548,000 31,122,000 47,670,000
_ _ 42,320,000 3,650,00( 45,970,000 39,769,000 3,530,000 43,299,000
000 of the Interborough Rapid Transit bonds abroad, Italy
Net heri'ds 12,110,000 1,003,40( 13,113,400 11,501,00
2,176,300 13,677.300
Nat.Belg
6,594,667 3,297,333 9,892,000 6,817,333 3,408,667 10,226,000
and that Paris is to take a considerable amount of the Sweden
_ _ 4,793,000
4,793,000 4,666,000
4,666,000
6,400,000
short-term notes with which the Brooklyn Rapid Switzerl'd.
6,400,00
6,315,400
8,315,400
Norway _ _ 2,132,000
2,132,000 2,023,000
2,023,000
Transit proposes its preliminary financing of its part Total week ,840,171 109,309,81::
319,149,984 98,087,033 111,289,317 09.376.350
of the Subway system. This is a form of security Prey. week ,572,51I 108,737,380 118,309,891 198,072,604 111,672.280 3.744,974
that is in exceptional favor in the. French market.
German exchange in Paris advanced during the week
"SOCIAL UNREST."
from 123.35 to 123.46, suggesting heavy remittances
The apparently widespread unsettlement in the
to Berlin. Cable advices state that Russian banks social, political and industrial circles of various nathat usually carry large balances in Paris have been tions continues to contribute interesting developments
transferring a part of these balances to the German to the news of the day. Last week we had the uprising:
centre. The Continental exchanges have also moved of the people in Budapest, with the streets barriagainst London, checks on London in Paris closing at caded against the soldiers, as if this were 1848. This
25 francs 233 centimes, which compares with 25 francs week came news of a similar uprising in Belgium, in
24 centimes a week ago, while the London check rate which churches and business houses were sacked
by
in Berlin has declined to 20 marks 43% pfennigs, the mob; the only obvious basis for this demonstraagainst 20 marks 46 pfennigs, last week's closing tion having been the exasperation of the people who
quotation.
engaged in it over the fact that the party which they
Compared with Friday of last week, sterling ex- favored had lost the election for the Belgian Legislachange on Saturday was weaker for demand and cable ture.
transfers, which declined to 4 8710@4 8715 and
Fighting between the rival factions in Mexico has
4 8740@4 8745, re-spectively; sixty days was un- continued its desultory course; in Cuba the uprising
changed at 4 8450@4 8460. Rates declined sharply of the colored citizens against the Government,
the
on Monday on the weakness in European discounts actual cause of which has hardly even yet
been exand closed at 4 87@4 8705 for demand,4 8725(0 8730 plained, reached this week the proportions
of a crisis;
for cable transfers and 4 8440(0 8450 for sixty days. at London the trouble with the dock
and shipping
On Tuesday sterling quotations moved irregularly on employees has been recurrent; here in New
York we
extremely dull trading; after a firm opening there have had the strike of the hotel waiters, in
which the
was a decline of about 5 points, but subsequently the violent demonstrations by that traditionally
respectmarket rallied and finished unchanged for demand at able and orderly part of the community actually
4 87@4 8705, while cable transfers moved up to threatened at one time destruction of
property, if not
4 8730@4 8735 and sixty days to 4 8450@4 8460. bloodshed. Along with all this,
the newspapers have
Short covering for speculative account and light offer- been reporting every day new developments
of a senings of bills caused an advance of 15 points on Wednes- sational sort
in the extraordinary situation in our
day; the final range was 4 8740(0 8745 for cable national politics, with
reference especially to the
transfers and 4 8710(0 8715 for demand; sixty days dispute over the Republican
Party's nomination.
ruled unchanged. On Thursday trading was dull and
What does all this mean? What, one may, in fact,
professional, quotations ranging within very narrow ask, is actually happening? There
has been an inclinalimits; the close was unchanged from Wednesday's tion among some timid
people to imagine that society
final figures. On Friday the market opened weak,im- is moving towards some sort
of political Armageddon.
proved on covering of short commitments and sales of
In
particular,
we
are
hearing
constantly of the "social
securities by London,then receded,and closed 5 points
lower for demand and cable transfers; sixty days un- unrest" which prevails throughout the world, especially
changed. Closing quotations were 4 8450@4 8460 for in the United States, and all sorts of conjecture is
sixty days, 4 8705(0 8710 for demand and 4 8735@ advanced as to how, if at all, we shall be able to
4 8740 for cable transfers. Commercial on banks restrain it. We have even heard, in recent weeks, the
closed at 4 833'@4 843 and documents for payment suggestion that one somewhat prominent political
can4 83%(0 844
3 . Cotton for payment ranged from didate
ought to be supported, even by those who are
1
4 84 to 4 844;
grain for payment from 4 843'@
objecting to his principles and personality, for the
4 844
3.
reason that no one but he can control the "forces of
The following gives the week's movement of money social disorder."
Yet it may possibly be worth while to ask whether
to and from the interior by the New York banks.
this social unrest is, after all, so new a phenomenon in
Received by
Shipped by
Net Interior
Week ending June 7 1912.
N. Y. Banks. N. 1'. Banks.
our day, and whether one must assume the necessity
Movement.
Currency
311.647,000
for
$4,545,000
$7,102,000
Gain
entirely new remedies and expedients to deal with it.
Gold
2,674,000
1,147,000 Gain 1,527,000
Beyond
question, the present movement is world-wide;
Total gold and legal tenders
$14,321,000
$5,692,000 Gain $8,629,000
in some ways it may be called acute in this country.
1536
THE CHRONICLE
Yet, when one asks if it is unprecedented, even in
recent history, the answer is not at all difficult. Social
unrest is . always with us, save, possibly, at some
moments in exceedingly prosperous times, when employment is at a maximum and all the influences
bearing on national prosperity are in our favor. When
one glances at the special phenomena which are cited
as proving that the present condition of things is unexampled, he is apt to recall that the labor movements
have been infinitely less serious than in 1894, for instance, when the whole transportation system centering at Chicago was practically seized by three labor
union dictators; or than in 1886, when the Anarchists'
bomb-throwing at Chicago was merely the climax of an
avowed industrial conspiracy to upset society. In
Europe, notwithstanding the recent very troublesome
demonstrations in the British coal trade, nothing has
been witnessed this year as grave as the Russian strikes
of 1905—which, indeed, could hardly be differentiated
from a popular revolt against the Government.
In fact, when all the circumstances are taken into
consideration, one will have to admit that the tendency
to negotiate for the practical solution of our labor
disputes has been more marked this year than in any
previous period. Certainly in our railway engineers'
dispute and in the anthracite coal trouble, a spirit
existed of something so much like mutual conciliation
as to mark out the episode distinctly in contrast with
the prolonged and angry demonstrations on many
former occasions. "Social unrest" was apparently
under better self-control than in scores of similar
episodes •in the past.
When England's coal miners were striking, much
was heard of a coming "sympathetic strike" in France
and Germany; but nothing serious came of it. The
proposal for a• sympathetic strike in our bituminous
mines, in order to further embarrass employers and
the consuming community, while the anthracite workers were out, received scant attention from the unions.
And as for the political disturbances of the present
year, it is not to be forgotten that political unsettlement in one part or another of the world is practically
always with us. Even as regards the United States,
we imagine that people who took an active part in the
politics of 1896 will hardly assert that for wildness of
political ideas and bitterness of partisan denunciation
by the radical school, the present episode has matched
what we have seen in the not very distant past.
Yet, on the other hand, no one is likely to deny
that in most of the present-day demonstrations there
. has been something more or less peculiar to the present
• period. We should say that it is the theories on which
the recent disturbances have been conducted, whether
• in politics or in industry, which have given a special
character to the movements, from the simple fact of
those theories being based on conceptions wholly new
• to the present generation, and sometimes new in
human history. The Belgian citizens plundered the
churches because the 'election went against the antiClerical ticket. Leaders of labor movements have
.professed a purpose to run the industries themselves
and exclude the owners and employers from control.
Politics, here and elsewhere, has not merely been influenced by impatience at old constitutional restraints
imposed voluntarily by the people on themselves, but
• have developed a seeming wish to introduce suddenly—
• over-night, as it were—such sweeping innovations as
• *ill fairly wipe out the past.
All this, we say, is a psychological incident of the
day. We have heretofore pointed out the extent to
[Vol, Lxxxxiv.
which such political tendencies have been influenced
or created by the ferment of thought and stimulus to
imagination which resulted inevitably from the many
epoch-making discoveries and inventions of the day.
The great French Revolution was, in its earlier stages,
a result of the speculations of political philosophers,
and no historian questions the fact that this spirit of
daring speculation on social and governmental affairs
was immensely stimulated by the inventions and discoveries of that era. But the point to keep in mind is
that it is one thing to contrive new theories about
government and society, and quite another thing to
put them into the field of instant experiment or fundamental statutes. To that there are two obstacles—
one, the fact that political ideas thus hastily evolved
are apt to be wholly unmanageable in actual application; the other, that the great mass of people who, in
the end, will have the decision on these questions, are
deliberate in their habitual procedure and conservative in their instincts.
We have mentioned the French Revolution. The
verdict of history equally is that the extraordinary
shape which that uprising took, in the wholesale
tearing down of the structure of society, was due to
the real and extremely serious grievances under a
rotten government, emphasized and brought to a head
in 1789 by agricultural disaster and by the consequent
suffering of the people as a whole. It was this pressure
of hardship, resentment and indignation, coming on
top of the speculative ideas with which people's minds
were full, which led to the uncontrollable revolt after
1789, in which the bravoes and the bullies eventually
snatched direction of affairs from the philosophers
and the theorists.
It would be difficult even for the most hardened
pessimist to picture in mind the existence of any such
situation now. Not only is it entirely untrue that
grievances of that sort exist, but the ruling powers,
even in nations without our Constitutional guaranties,
have notoriously been moving for years in the direction
of concession. Legitimate demands by the people at
large have been granted in an unusually rapid measure;
the question, indeed, has now risen in some foreign
states—in Portugal, for instance—whether this process
of concession has not itself been carried too far.
At all events, the sober middle classes will at one
point or another draw the line against the movement to pull down institutions of the past and substitute experiments whose practical worki.ng-out is
a matter of complete uncertainty.
The cardinal mistake which people are apt to make,
in a discussion of this sort, is to assume that because
certain sections of a community raise a demand for
.novel and sensational innovations in our social system,
and raise them loudly and insistently, therefore a
great majority of the community is in angry sympathy with them. We have not the remotest idea
that anything of the sort is true. That there are
times when the tide of social or political discussion
sweeps in a new direction, and when the popular
imagination is inclined, like that of the ancient
Athenians, "either to tell or to hear some new thing",
is not to be doubted, and we are living in very much
such a period. But to listen with curiosity to the new
and extreme propaganda is one thing, and to commit
one's self to its doctrines for their practical application
is something very different. Because the innovator
and the agitator gets a ready hearing, it does not
follow by any means that he is converting everybody,
and there, we imagine, is the point where a good many
JUNE 8 1912.1
THE CHRONICLE
1537
6th of last month, by a vote of 64 to 15 passed the Employers' Liability and Workmen's Compensation Bill,
providing compensation for injuries resulting in disability or death of emplo ees of railroads engaged in
inter-State and foreign commerce. We do not purpose going into a discussion of the merits of this measure. The bill was drawn by the Employers' Liability
Commission and was endorsed in a message from President Taft bearing date Feb. 20. In the present article
it is our intention merely to deal with the probable
effects of such a piece of legislation. Granting for the
sake of argument that a law ofthat kind is desirable and
praiseworthy, a few moments' consideration will suffice to convince any one that new revenue will have
to be provided to take care of the added outlay.
The bill provides that every common carrier engaged
in inter-State or foreign commerce by railroad shall
the amounts specified in the bill
FURTHER HARDSHIPS FOR THE RAILROADS. pay compensation in
sustain personal injuries by
may
who
ees
Conemploy
in
to
It is rather surprising that the bills pending
ents in case of death.
depend
their
to
and
t,
im,
acciden
passage
gress and which are proceeding towards
by no means meagre,
is
allowed
sation
s,
compen
railroad
The
the
upon
posing new and additional burdens
ant point is that the employee is not to
are attracting very little attention. They are not even and the import
in any way, but that the whole
exciting much discussion—we mean discussion bearing be asked to contribute
upon the carrier. Where perrest
upon the future revenue-earning capacity of the prop- of the burden is to
as for example the loss
results,
ty
disabili
erties. If the events and experience of the last eigh- manent total
the injured employee
&c.,
arms,
both
legs,
teen months teach anything, it is that the country's of both
y wages during the remonthl
his
of
50%
further
any
paid
is
to be
rail carriers are not in condition to bear
ary total disatempor
of
case
in
d-earnlife;
his
of
dividen
r
the
izing
mainde
heavy burdens without jeopard
the continuance of the
ing capacity of many companies and without endan- bility, 50% is to be paid during
ent partial disability,
gering the actual solvency of a great many others. disability. In the case of perman
of
compensation are granted;
The Inter-State Commerce Commission sixteen months specified rates and terms
an a m, payments are to
of
loss
the
for
ago denied to the vast body of roads in the country for example,
; for the loss of a leg,
months
-two
seventy
for
no
e
rates,
continu
authority to make any general advances in
eye, thirty months;
an
of
loss
the
for
;
months
x
only
sixty-si
Not
cost.
matter how great the rise in operating
of a thumb, thirteen months, &c. The
that, but the Commission in individual cases of com- for the loss
fixed on an equally liberal scale.
plaint is all the time making orders, whittling rates death benefits are
the injury, monthly paydown to a lower basis. The employees, on their part, Thus, if death results from
of eight years to deperiod
are constantly making demands for increases in pay ments are to be made for a
relationship of these
the
to
ng
accordi
and backing them up with threats to quit work if the pendents, giaded
the monthly wage;
of
40%
alone,
a
widow
For
demands are not conceded. One conspicuous in- latter.
age of 16, or dethe
under
child
any
and
ive
widow
for a
stance of this kind is the request of the locomot
if no widow,
50%;
16,
of
age
the
over
child
t
pay
for
penden
lines
higher
engineers on the Eastern trunk
ent child
or
depend
16,
of
age
the
under
child
tion.
any
of
but
arbitra
subject
the
now
and other concessions,
than
if
more
25%;
child,
such
Another instance is the demands of the Brotherhood of over the age of 16, if one
fa
exceed
to
not
child,
nal
Firemen and Enginemen now under consideration by one, 10% for each additio
all.
the roads, and which, if granted, it is computed total of 50% for
All this is sure to add enormously to the yearly
would add $25,000,000 to $28,000,000 to the yearly
expenditures of the roads. As already stated, the
expenses of the roads.
in
carriers are asked to bear the entire amount ofithe
plight
Apparently oblivious of the unfortunate
, the employees not being obliged to contribute
naexpense
our
ves,
which the railroads already find themsel
n of the fund out of
tional legislators are proposing legislation the effect of in any way towards the creatio
Railroad accidents
come.
to
which will inevitably be to make further enormous which the benefits are
than is to the
us
numero
more
additions to their expenses and yearly outlays. If at are, unfortunately,
rs of the:roads,
or
manage
the
public
the
either
-State
of
liking
the same time there were directions to the Inter
in the interest
m
a
to
minimu
reduced
the
be
for
and
should
Commerce Commission to make an investigation
safeguards,
proper
Given
ed.
concern
outlay,
ody
of
the
of
added
everyb
purpose of determining the extent
depends
much
ces,
applian
best
the
of
inuse
to
the
carriers
through
the
to
ion
and then to grant permiss
m.the:nu
r
whethe
to
crease their rates so as to restore the old equilibrium upon the employees themselves as
nt.
the
lowest-poi
to
down
between revenues and outgoes, there would be less oc- ber of accidents is to be kept
of the-passage
casion for disquietude, and there would be at least It may be doubted whether, in the event
d.do their
es:woul
the
employe
bill,
sation
seeming compliance with the rules of equity and jus- of thi compen
r:Chamts.
Senato
acciden
the
ng
lesseni
s
questoward
best
tice. But no one seems to give a thought to the
of
behalf
in
the
ing
Senate
address
in
,
Oregon
of
ned
berlain
tion how the welfare of the carriers is to be maintai
that
Liability Bill, made the7statement:
under constantly augmenting drains upon their reve- this Employers'
, day and night, a railroad employee
minutes
six
every
good
e.
the
making
shortag
of
nues with no way
and every two hours one is
These observations seem pertinent in view of the is injured or killed,
accept this extreme-statementiin
to
bills which have been reported to Congress proposing We do not have
conception of what will be inproper
a
to compensate employees for injuries sustained while order to get
in the adoption of such a bill.
ds
railroa
the
in the service of the roads and providing for a phsyical volved to
in mind that the railroads
bear
to
ry
necessa
only
is
It
valuation of the properties. The U. S. Senate on the
well-meaning people have fallen into unnecessary
mental confusion.
In its best sense, "social unrest" is a necessary and
salutary element in modern civilization. In so far
as it means the maintenance of a jealous surveillance
of the field of government, to see that public trusts are
justly administered and that there is no encroachment
upon public and private rights, it is inseparable from
true political progress. But the social unrest whose
chief claim to public attention is its spirit of dissatisfaction with every institution which exists, merely
because such institutions are not themselves struck
off as noveltie3 from the results of present-day discussion, should properly be regarded more as a morbid
curiosity than as a sign of the general tendencies
of the people.
38
THE CHRONICLE
VoL. Lxxxxiv,
give employment regularly to about 13
4 million em- carrier, stating the valuation placed upon the several
ployees to understand what it means to pay 50% of classes of property of said carrier, and shall allow the
the monthly wages in case of permanent total disability carrier thirty days in which to file a protest of the same
during the remainder of the life of the disabled em- with the commission. If no protest is filed within
ployee, and 50% also for eight years to the dependents thirty days, said valuation shall become final.
If notice of protest is filed by any common carrier,
in case of death.
the committee shall fix a time for hearing the same,
Is it not perfectly evident that the payments called and shall proceed as promptly as may be to hear
for will be of such magnitude as to make it absolutely and consider any matter relative and material thereto
necessary that the carriers shall be allowed to provide which may be presented by such common carrier in
added revenues in some way so as to take care of the support of its protest and filed as aforesaid. If after
hearing any protest of such valuation under the
extra outlays?
provision
of this Act, the conimission shall be of the
In connection with this matter consider now the
opinion that its valuation is incorrect, it,shall make
provisions of the bill which undertakes to confer upon such changes as may be
necessary, and shall issue an
the Inter-State Commerce Commission authority to order making such corrected valuation final. All
make a physical valuation of all the railroads in the final valuations by the committee and the classification
country. The House Committee on Inter-State Com- thereof shall be published and shall be prima facie evimerce in April reported this bill by an absolutely dence relative to the value of the property in all proceedunanimous vote, but the Committee on Rules has ings under this Act.
not yet fixed any day for its consideration. The
It is difficult to avoid the conclusion that all these
measure is known as the Adamson Bill. It adds a proceedings and all this action is meant to be vexatious
new section to the Inter-State Commerce Law and and that the purpose is to harass the roads. This is
provides that the Commission shall investigate and particularly apparent in the requirement calling for
ascertain the value of the property of every common the names of all stockholders and bondholders, with
carrier, subject to the provisions of the Inter-State the amounts held by each, and also the name of each
Commerce Act and used by it for the convenience of director on each board of directors, and still more the
the public. The value is to be ascertained by means requirement that the Commission shall "find and
of an inventory which shall list every piece of property report the facts as to the connection of any bank or
belonging to the carrier. The investigation is also to bankers, capitalist or association of capitalists or
include "the history of the organization of the present financial institution or holding company with the
corporation operating such property or of any previous ownership, manipulation, management or control of
corporation operating such property in such detail as any stocks and bonds of any such company, and the
may be deemed necessary, and any increases or transactions and connections of any bank or banker,
decreases of capital stock in any reorganizations, financier, financial institution, or holding company,
and moneys received by any of such corporations by with the reorganization of any such company in recent
reason of any issue of stocks, bonds or other securities, years."
or from the net and gross earnings of such companies,
The work devolved upon the railroads in attempting
and how the moneys were expended or paid out for to furnish the Commission with the information here
the purposes of such payments." There is the further called for would be of huge extent and this portion
provision that:
of any such inquiry would be clearly farcical in its
nature.
It would, moreover, simply furnish the
The said investigation and report shall also show
the amounts and dates of all bonds outstanding against Commission with another weapon for worrying the
each public service corporation and the amount paid railroads and distracting the attention of the managers
therefor, and the names of all stockholders and bond- from their proper duties in operating the properties.
holders, with the amount held by each, and also the It should be noted, too, that the roads are required
name of each director on each board of directors; and to furnish
to the Commission or its agents from time
find and report the facts as to the connection of any
Commission may require,"maps,profiles,
time,
to
as
the
bank or banker, capitalist, or association of capitalists,
contracts,
reports
of engineers, and any other docuor financial institution or holding company with the
ownership, manipulation, management or control of ments, records and papers, or copies of any or all of the
any stocks and bonds of any such company, and the same, in aid of such investigation and determination,"
transactions and connections of any bank or banker, and are required to co-operate with and aid the Comfinancier, financial institution or holding company with mission in any way the latter may require.
the reorganization of any such company in recent
The expense of all this would certainly be no mean
years.
item, and we may be sure that so long as the investiIt is also provided that upon completion of the gation was in progress railroad officials would have
valuation the Commission shall thereafter in like little time to do anything but dance attendance upon
manner keep itself informed of all extensions and the army of investigators that the Commission would
improvements or other changes in the condition and let loose in the attempt to arrive at an estimate of the
alue of the property of all common carriers and physical valuation of the properties. This estimate
shall ascertain the value thereof, and shall from time would be of little value after it had bee obtained and
to time, as may be required for the proper regulation it would be discredited in advance because of the bias
of such common carriers under the provisions of this Act, and prejudice with which the work would be carried
revise and correct its valuation of property, which shall be on.
reported to Congress at the beginning of each regular
We notice that some of our contemporaries make the
session. Under the bill it is also attempted to make point that the valuation might serve at least one useful
the valuation arrived at binding upon the carriers by purpose, because the totals could not fail to be greatly
means of the following provisions:
in excess of the amounts represented by outstanding
Whenever the commission shall have completed the stock and bond issues. This, however, is on the
valuation of the property of any common carrier, and assumption that the investigation would be fair and
before said valuation shall become final, the Commis- truthful. Unfortunately there is no assurance that
sion shall give notice by registered letter to the said the investigation would be conducted in that way.
THE CHRONICLE
.TUNE 8 1912.1
On the contrary, the probabilities are that methods
and rules would be prescribed that would make low
valuations an absolute certainty. That is one of the
main objections to such valuation, entirely apart from
the fact of the prodigious cost to the Government
of the investigation. But with the valuations grossly
understated, what may be supposed would be the
position and prospects of the carriers with their affairs
at the tender mercy of a Commission, the chairman
of which has recently committed himself to the
doctrine that the railroads should be satisfied with
5% dividends at the outside? As already stated, the
bill is now awaiting action by the Committee on Rules.
It is to be hoped it may never emerge from its care.
BANKING, LEGISLATIVE AND FINANCIAL NEWS.
—The public sales of bank stocks this week aggregate
127 shares, of which 108 shares were sold at auction and
19 shares at the Stock Exchange. No trust company
stocks were sold. Extensive tables reporting the bid and
asked quotations, deposits, surplus, &c., of banks and trust
companies in all important cities in the United States are
published monthly in the "Bank & Quotation" Section, the
June issue of which accompanies to-day's "Chronicle".
Bid and asked quotations for all New York City bank and
trust company stocks age also published weekly in another
department of the paper, and will be found to-day on pages
1550 and 1551.
Shares. BANKS—New York.
•5 Commerce, Nat. Bank of—
*14 Fourth National Bank _
100 Garfield National Bank.. _ _
8 Nassau Bank, National__ __
*Sold at the Stock Exchange.
Low.
198A
202
275
202
High.
198M
202
275
202
Close.
198%
202
275
202
Last precious sale.
May 1912— 1983
May 1912— 202
Dec. 1900— 296
May 1912— 204 %
1539
tion to providing for two battleships,-the bill calls for eight
submarine torpedo boats instead of four; it retains the House
provision for six torpedo boat destroyers, two fuel, ships, a
tender to destroyers and a submarine tender. The provision
for the establishment of a wireless system around the world,
which was stricken out by the House, has been 'restored by
the Senate. The committee fixes the term of all enlisted mien
in the navy at four years, with a provision for the -voluntary
extension of service; it also adopted an amendment providing
for the creation of a national council for defence, and made
provision for the grades of Admiral and Vice-Admiral for
the commanders-in-chief and second officers 'in command,
respectively, in the Atlantic and Pacific fleets, while they
hold such commands. The bill furthermore authorizes the
Secretary of War to purchase war material abroad in an
emergency.
—The bill limiting the hours of laborers and mechanics employed on Government work to eight hours a day was passed
by the Senate on May 31 by a vote of 45 to 11. Senator
Percy was the only Democrat who voted against the bill, the
other negative votes being cast by the following Republican
Senators: Bradley, Dillingham, du Pont, Gallinger, Heyburn, Oliver, Page, Root, Sanders and Wetmore. The bill
was passed by the House last December; in the Senate'an
amendment was adopted exempting from the operation of
the Act the work on the Panama Canal, because of its _interference with the plans to complete the canal within.,the
time fixed by Col. Goethals. An amendment, offered by
Senator Lodge, and rejected on the 22d ult., proposed that
where a Saturday half-holiday be given the men to whom
the bill applied, a 48-hour week, made up of 9 hours for 5
days of the week and 3 hours on Saturday, would be deemed
to be in compliance with the provisions of the Act.
—The Cotton Tariff Revision Bill, which was passed-by
Congress last year and vetoed by President Taft, was re-ir.troduced by Representative Underwood on the 1st inst.
and ordered favorably reported by the majority members of
the Ways and Means Committee on the 4th inst. The bill
is substantially in the form as passed a year ago. A substitute for it'was introduced in the House on.the 4th inst..by
Representative Hill, a minority member of the committee.
The Democrats claim that the Underwood bill would make
the average ad valorem duties 27.06%, as against an ad
valorem of 47.15% in 1911 and 48.12% in 1910. In the report accompanying the bill, the committee states that it has
made a careful analysis of the Tariff Board's report,but has
found nothing of beneficial significance.
-The House of Representatives on the 3d inst. passed the
Humphrey bill, which would exclude fiom United States
ports vessels under domestic or foreign monopolistic contrca,
or operating in restraint of trade. The text of the bill is
as follows:
—In accordance with resolutions adopted on the 28th ult.
by the Merchants' Association of New York directing the
appointment by its President of a special committee to conduct an investigation to ascertain whether the proposed
advance of 25 cents a ton in the price of anthracite coal is
justifiable, the following have been named by President
Towne as members of the committee: Henry Dailey, Chairman; Abram I. Elkus, William Fellowes Morgan, Edward
D. Page and Frederick B. DeBerard, Secretary. The con- elusions of the committee are to be embodied in a report
which is to be presented to the directors of the Association
for such further action as may be deemed expedient.
—The Judiciary Committee of the House of Representatives agreed on the 3d inst. to report favorably a bill supposed
to be aimed at the alleged "coffee trust." It was introduced
by Representative Norris on May 31 and seeks to amend the
existing anti-trust law so as to extend its operation to interBe it enacted, ee.c., That whenever in a proceeding brought under the pronational trade; it would make illegal any combination of two visions
of the Act of July 2 1890 entitled "An Act to protect trade and.comor more importers of an article when such a combination mercc against unlawful restraints and monopolies," it shall be adjudged
tends to restrain free competition of commerce or to increase that the owners, managers or operators of any vessel or vessels, whether
of the United States or of any foreign country, are engaged- in a contract,
the price of the article.
combination or conspiracy in restraint of inter-State or foreign trade or
—The Constitutional Amendment proposed by Represen- commerce, or are monopolizing or attempting to monopolize &IV part of
such trade or commerce, In violation of such Act, the Court may,-by its
tative Clayton fixing the term of office of the President of the judgment
or decree, prohibit all vessels employed pursuant to such conUnited States at six years, and limiting such officer to one tract, combination or conspiracy, or In such monopolization or attempt to
• term, was ordered favorably reported by the House Judiciary monopolize, from entering at or clearing from any port of the United States;
Committee on the 4th inst. A similar resolution, presented whereupon it shall be unlawful for such vessel or vessels to socoenter or dlear
lspiracy has
till the Court shall find that such contract, combination or
by Senator Works, was favorably reported to the Senate on been canceled, terminated or dissolved, or such monopolization or attempt
to monopolize ended.
' May 20.
Sec. 2.
a penalty of $25,000 shall be imposed upon any tessel which
—The committee appointed under a resolution of the shall enterThat
or clear from any port of the United States In violation of the
• United States Senate to inquire into campaign contributions provisions of a judgment or decree rendered as provided in section 1 of this
each and every such entrance or clearance, which penalty or penand disbursements in 1904 and 1908, decided at a meeting on Act, for
alties may be recovered by proceedings in admiralty in the District Court
the 4th inst. to take no action in the matter until after the of the United States for the district in which said vessel may be, and-which
national conventions. There is said to be a possibility that court may direct the sale of said vessel for the purpose of realizing the
said penalty or penalties and cost.
they may further postpone the inquiry until after the No- amount ofThat
the Postmaster-General is hereby authorized and directed
Sec. 3.
vember election. The next meeting of the Committee will be to cancel any contract for carrying the ocean malls pursuant to the. Act
held on July 1. Senator Moses E.Clapp is'Chairman,and the of March 3 1891, entitled "An Act to provide for ocean mail service between the United States and foreign ports, and to promote commerce,"
others on the Committee are Senators Oliver of Pennsylvania, on
satisfactory evidence to him that any vessel performing such a service
Paynter of Kentucky and Jones of Washington. The last under such contract is, at the time of performing such service, owned,
operated
or controlled by any person or persons who, in any proceeding,
been
named
just
to
named has
take the place of Senator
civil or criminal, Instituted by the Government of the United States,- have
Bradley.
been adjudged by a court of the United States tro have violated the Act of
—The Naval Appropriation Bill was reported to the Senate July 2 1890, entitled "An Act to protect trade and commerce against un
restraints and monopolies," and that said vessel performing 'Bildt a
by'its Committee on Naval Affairs on the 7th inst. The com- lawful
service under such contract at the time of performing such service Is being
bill
(which
of
the
was
House
amended
passed
the
by
mittee
used to carry out the purposes and objects adjudged 'unlawful in such
Representatives on May 28) by adding a provision for two proceeding.
—The Alexander bill, amending the Act of June
battleships and by striking out that portion of it restricting
laborers and mechanics employed under contracts made on requiring ocean steamers to carry wireless apparatus, Nizall
behalf of the Government to an eight-hour day; this section Passed by the House of Representatives on the 3d 1st., Tim
of the bill was inserted by the House as a rider. In addi- House bill was adopted in substitution for that pas.sed by
1540
THE CHRONICLE
the Senate on April 30. Under the latter, ocean-going steamers of the United States or of a foreign country carrying 100
or more persons, whether passengers or crew, would be required, beginning July 11912, to be equipped with an efficient apparatus for radio communication, in charge of
two or more persons skilled in its use, one person at least
to be on duty at all hours of the day and night, the apparatus
to be capable of transmitting and receiving messages over a
distance of at least 100 miles, night or day. The Alexander
bill applies to ocean-going steamers of the United States or
foreign countries, and vessels navigating the Great Lakes,
carrying 50 or more persons, including the passengers or
crew, and requires that they be "equipped with an efficient
apparatus for radio communication, in good working order,
capable of transmitting and receiving messages over a distance of at least 100 miles, day or night, under all conditions
of atmospheric disturbance, when it is safe for the operator
to work the set." It furthermore stipulates that "an auxiliary
power supply, independent of the vessel's main electric power
plant, must be provided, which will enable the sending set
for at least four hours to send messages over a distance of at
least 100 miles, day or night, under all atmospheric conditions safe for an operator to work." The radio equipment
must be in charge of two or more persons skilled in the use of
such apparatus, one or the other of whom is to be on duty at
all times while the vessel is being navigated. This Act, so far
as it relates to the Great Lakes, is to go into effect on April 1
1913, and so far as it relates to ocean-going cargo steamers
is to take effect on July 1 1913.
—At a meeting on the 3d inst. the Ways and Means Committee of the House of Representatives voted to accept the
minor amendments made by the Senate in the bill revising
the metals schedule, but rejected the amendment repealing
the Canadian Reciprocity Act and imposing a world-wide
duty of $2 a ton on print paper. The two changes incorporated in the Senate to which the committee agrees concern
the reduction in the duty on pig iron and ferro-sillicon, which
we referred to last week in noting the passage of the bill by
the Senate on May 30.
—The retention of the United States Commerce Court is
called for in the legislative, executive and judicial supply bill
as reported to the Senate on the 1st inst. by the Senate Committee on Appropriations. As passed by the House of Representatives on May 10, the bill cut off the appropriation for
the continuance of the Court. Another amendment made by
the committee is the restoration of the salary of the Secretary
to the President to $7,500, the amount having been reduced
by the House to $6,000. The provision of the House limiting the number of circuit judges to 29 has been stricken
from the bill by the Senate committee.
—In carrying no provision for the Tariff Board, the Sundry Civil Appropriation Bill, reported on the 3d inst. to the
House of Representatives by the House Committee on Appropriations, gives evidence of the purpose of the House to
abolish it: The total appropriation carried in the bill is
$109,577,414, which is a reduction of $42,413,692 under
the estimates and $33,060,630 less than the appropriations for the current fiscal year. The principal reduction
affects the appropriation for continuing the construction
of the Panama Canal; $28,780,000 is allowed for this,
a reduction of $16,780,000. For public buildings, $8,053,518 is appropriated; the amount for the last fiscal
year was $21,000,000, while the estimates for this year
were $13,000,000. The committee voted $75,000 for
the Economy and Efficiency Commission, which is inquiring
into the business methods of the Government, but refused
to appropriate $20,000 for the continuance of the International Waterways Commission.
—The Dillingham Immigration Bill, which passed the
U. S. Senate on April 19, and was tabled on May 21 by the
House Committee on Immigration and Naturalization, was
brought up for consideration by the Committee on the 4th
inst., when it voted (7 to 3) to report the bill in an amended
form, by striking out everything after the enacting clause
and substituting therefore the Burnett bill. The latter is
understood to be less stringent than the Dillingham bill insofar as the literacy test is concerned. The Burnett bill was
reported to the House on April 16, and inasmuch as action
on it is facilitated through its incorporation as part of the
Dillingham measure, Chairman Burnett yielded on the question of the use of his name exclusively for the amended
bill, and it will be hereafter known as thelDillinghamBurnett bill.
[VoL. Lxxxxiv.
—The Federal officials at Seattle, Wash., have been instructed by Attorney-General Wickersham to lend their efforts toward securing a re-hearing for Leonard Oleson, the
Socialist of Tacoma, whose rights to citizenship were canceled under a decree of Judge Cornelius H. Hanford of the
U. S. District Court, in Seattle, on May 10. A letter to this
effect has been addressed by Mr. Wickersham to Representative Berger, of the House of Representatives, a Socialist, who
has not only petitioned the Government officials in behalf of
Oleson, but has also presented to the House a resolution
calling an investigation of the official and personal conduct
of Judge Hanford. The Attorney-General's communication
to Representative Berger is as follows:
The Hon. Victor Berger, House of Representatives.
My Dear Mr. Berger—After you left yesterday / found upon investigation that the Department had already caused inquiries to be made into the
case of which you spoke to me, namely the proceeding In the Western District of Washington to cancel the naturalization certificate of Leonard
Oleson, and upon examining the report I found that the proceeding was
initiated at the instance of one of the local officials of the Department of
Commerce and Labor and brought by the District Attorney without previous communication with this Department. I found, moreover, that no
report had been taken on the trial of the testimony of the witnesses, and
that the counsel for Mr. Oleson had requested that the decree be opened
in order to enable him to make a record. I have instructed the United
States Attorney to facilitate him in every way within his power toward
the opening of the decree and the securing of a new trial, or, falling that.
of an appeal to the Circuit Court of Appeals.
I have further notified the United States Attorney that, upon the facts
stated by Judge Hanford in his decision,the Department was of the opinion
that a gross injustice had been done to Mr. Oleson in canceling his certificate of naturalization.
Yours very truly,
GEORGE W. WICKERSHAM.
—The Sub-Committee of Banking and Currency of the
House of Representatives, which has been delegated to inquire into banking and monetary conditions, began preliminary hearings in this city on Thursday in the Custom
House Building. Representative Arsene P. Pujo, who is
Chairman of the Committee, issued an announcement with
the institution of the local hearings in which he stated that
no testimony will be taken on the main branch of the inquiry until autumn, the intervening time being devoted to
gathering testimony on certain collateral subjects. The
relations of the Clearing-House Association and the Stock
Exchange to the financial systems are the matters which
are to have consideration in the few sessions which will be
held at this time. We quote Chairman Pujo's statement
as follows:
"1. There will be no testimony taken at this time nor until the autumn
upon the main branch of the inquiry. In view of the insistence by certain
of the leading financial institutions whose affairs it may become necessary
to investigate that the committee Is without power to enforce its demands
for information, the committee adhere to the conclusion heretofore announced that it is not advisable to take up the main inquiry until all doubt
as to the power of the committee to conduct the inquiry on the lines that it
believes to be necessary has been removed by the passage of the pending
bill to amend Section 5241 of the Banking Law, which has passed the House
and is now before the Finance Committee of the Senate.
"2. It will require months of painstaking investigation and preparation,
after the proposed legislation has been enacted, to secure the data that Is
essential to the inquiry. The prevalent impression that this can be accomplished by merely examining witnesses demonstrates the popular misconception of the character of the task and the constructive results sought to
be obtained. The field of inquiry Is so vast and the subject so highly
technical and specialized, that the work, if attempted in that way, would
prove endless and aimless.
"The required data must be gathered primarily from the books of the
corporations concerned and must be segregated before witnesses can be
advantageously examined.
"The committee is anxious to avoid exposing legitimate transactions
of the institutions concerned and to examine only Into those that are
believed to be the proper basis for remedial legislation. This can only be
accomplished by the plan that has been arranged. The objections put
forward by the banks invite the exposure of their affairs that the committee
has been seeking to avoid and which will be avoided if the desired legislation Is enacted.
"3. The committee considers it inadvisable in any event to conduct
this important and far-reaching economic inquiry during the heat and
exeltetnent of a political campaign and has not from the outset contemplated any such course. It has been recognized as imperative that the
public confidence in the judicial attitude of the committee shall be beyond
suspicion and for that additional reason the committee has not considered
pursuing the main branch of the investigation until after the election.
"The Intervening time will be devoted to taking testimony on certain
collateral subjects that are essential to a complete conception of the situation and in collecting the material for more prominent features of theIlnquiry. Relations of the Clearing-House Association and the StocklExchange to the financial system and to the increasing concentration of money
will be investigated in the few sessions that are to be held before the:summer vacation."
William Sherer, Manager of the New York Clearing-House
Association, was one of the first witnesses to appear before
the Committee on Thursday. Prof. J. Laurence Laughlin,
Chairman of the Executive Committee of the National
Citizens' League for the Promotion of a Sound Banking
System and Professor of Political Economy in the University
of Chicago, and Irving T. Bush, President of the Bush
Terminal Co., were also in attendance before the Committee
at its session on Thursday.LJames G. Cannon, President of
JUNE 8 1912j
THE CHRONICLE
the Fourth National Bank, gave testimony before the committee at yesterday's hearing.
The recent letter sent to Chairman Pujo by Robert L.
Fryer, President of the Fidelity Trust Co. of Buffalo, in which
the
the latter declined to supply the information sought by
inquire
to
Congress
of
right
the
questioned
and
Committee
Into State institutions, has drawn forth from Representa
tive Pujo the following reply:
20th inst., which has since assumed
Replying to your open letter of theadvise
that I have given its subject-
circular form, I have the honor to
matter careful consideration.
your letter as are germane and
I will confine my reply to such p arts of
to you in the form prepared and
relevant to the questions propoun ded
to answer or to supply
declined
authorized by the committee which you
the information asked for.
the investigation which this
Your attention is invited to the fact that
to continue is authorized by the
committee has commenc ed and intends
in this committee, in
lodged
House of Representatives; that the powers
are defined and stated in Resoluso far as this investigation is concerned,
upon the committee
tions 429 and 504; and that Congress has conferred
is lodged in it (Congress) under
all the power stated in the resolution which
the Constitution of the United States.
solely political in its
I will give but little heed to that part of your letter,
regard you
nature, further than to say, with all due respect, that I do not
I take it that the
as the sole custodian of the doctrine of State rights.
of the
jealous
are
as
Congress
Democratic majority of the Sixty-second
you or other
doctrine of State rights and as zealous in its protection as
loud protestations
members of the party can possibly be, notwithstanding
will readily inform
to the contrary. A reference to our Federal Constitution
foreign nations
with
commerce
you that Congress has the right to "regulate
of
and among the several States . . ." and likewise jurisdiction
issue
all matters relating to the strengthening of the public credit, the
banking
of notes, their redemption and the establishment of national
a view
associations. Congress, for purposes of.obtaining Information with
of enacting legislation to correct abuses in the operation and conduct
of carrying on Inter-State and foreign commerce through financial institutions, can investigate fully into the subject through the committee appointed
for that purpose. This is what it proposes tido in the instant case. la
of this
The law, under tile Constitution, determines and fixes the rrhts
firms
committee, and likewise the privileges and immunities of all citizens,
neither add to
or corporations, and what may be said by you isor by me will
or take away from those rights. However, it suggested as obvious that,
should a State corporation own a majority of the stock of a national banking
association, thereby enabling it to elect the directors, outline its policy,
and use its deposits, say, for underwriting bond issues, that Congress,
through this committee, should have the right to ascertain such facts and
submit them to the House.
Again: If a State bank or trust company should acquire, by purchase or
of a
as a holding company,stocks, securities or bonds whereby the control
follow,
corporation engaged in Inter-State and foreign commerce should
that
ascertain
Congress, through this committee, would have the right to
fact.
These examples are merely illustrative.
and your rights are
With these observations I reiterate that our power
subject any further.
fixed by law, and I will not pursue this branch of the
asked of you
The fact of your declination to furnish the information
is
will be taken up in its regular order when the name of your company
reached and disposition of the matter is before us, and you will be advised
the
to
handed
be
will
letter
This
thereon.
of the action of the committee
press, being in a sense of a public nature.
1541
been passed by the House amending Section 5341 of the Banking Law, I
take the liberty of herewith calling the attention of the committee to the
correspondence between us, embodying the conditions on which I consented
to act as counsel for the committee in conjunction with Mr. Farrar.
In my letter to you of April 20 I stated, among a number of such conditions, the following:
"That my retainer is conditioned on the passage of a resolution amendatory of H. Res. 429 in substantially the form agreed between us yesterday,
and that I may be relieved of such retainer in the event of the non-passage
of such amendatory resolution.
"That the committee will authorize the employment of a junior assistant
counsel to be approved by senior counsel, whose duty it will be, among
other things, to aid In the preparation of the proof.
"In my joint letter under date of May 6, signed by Mr. Farrar and
myself, addressed to the Committee on Banking and Currency, we stated
our conclusions on this subject as follows:
"1. That it is unwise to begin the taking of testimony until after the
passage of the pending amendment to Section 5241 of the Revised Statutes,
and that in the event of the non-passage of that amendment your committee
should report to the House recommending the abandonment of the inquiry.
"2. Any attempt to carry out the directions of the resolution would be
doomed to failure so long as there is doubt of the power of the committee to
examine freely into the affairs of the national banks, involving months of
delay in litigating through the courts the question of the power of the
•
committee to discharge the duties imposed upon it.
"Doubt as to the power of the committee is as fatal as want of power,
because behind this doubt all interests that desire to escape investigation
will shelter themselves, and before this shelter could be torn away the life
of the committee would expire.
"In the present state of the law on this subject the very considerable
expenditures that will be involved are not justified."
The efforts that are being made and the pressure that is being brought to
bear to defeat tills legislation ought to satisfy Congress of its necessity. The
opposition to the bill is sought to be defended on the ground that the
House of Representatives, acting through its regularly constituted committee having charge of the subject of banking, should not be vested with
powers as comprehensive as those that are now exercised by the Comptroller
of the Currency, who is subject to the direction of the House.
No argument or explanation is presented for this extraordinary proposiIt
tion beyond its mere statement, accompanied by the suggestion that
would be "inadvisable" to permit the disclosure of the relations and transactions between national banks and their customers.
It is difficult to believe in the sincerity of this claim, In view of the fact
that in every city in which there is a Clearing-House Association there
exists a committee of the Association, with its staff of examiners, through
between
whom this committee is kept familiar with all the transactions
the banks and their customers..
You know, from my repeated statements, of the vast and far-reaching
importance that I attach to this investigation as a basis for a constructive
legislation, provided the power of the committee is ample to enable it to
conduct a drastic and comprehensive inquiry. Rather than have it circumscribed or done in a superficial or half-hearted way, It would be far better in
the public interest that the inquiry be abandoned until such time as Congress may see fit to authorize its conduct in the way in which It should be
done in order to accomplish permanent results.
On May 31 resolutions were adopted by the Detroit Board
of Commerce and the Detroit Clearing-House Association in
which the opinion was advanced that the disclosure by the
House Committee of the transactions and relations between
the banks and trust companies and their customers would
prove harmful, and in the resolution of the Board of ComThe above has elicited from Mr. Fryer the following merce the Committee is requested not to print as part of its
answer:
proceedings the answers transmitted by the institutions.
It is obvious, Mr. Pujo says, that should a State corporation own a The Clearing-House resolution is furnished herewith:
it
majority of the stock of a national bank association, thereby enabling
underto elect the directors, outline its policy and use its deposits, say for
writing bond issues, Congress, through his committee, should have the
right to ascertain such facts and submit them to the House. The obvious
answer to this suggestion is that if any State banking institution owns a
majority of the capital stook of a national bank and thus elects the directors
and controls its policy, his committee can ascertain that fact from the records in the office of the Comptroller of the Currency at Washington, and if
he is not satisfied with such information, the facts can be ascertained from
the stock books of the national bank or from its officers. Again he says if
a State bank or trust company should acquire by purchase Qr as a holding
company stocks, securities or bonds whereby the control of a corporation
engaged in Inter-State and foreign commerce should follow, Congress,
that fact.
through this committee, would have the right to ascertain
power
Again the obvious answer is that if Congress has the Constitutional
merely
corporations
to inquire into the control or ownership of certain State
is by
which
commerce,
foreign
because they are engaged in Inter-State or
no means certain, why does not the Congressional committee go to those
banking
corporations for the information instead of seeking it from the State
lawful
corporations over which it clearly has no such power? Why shun the
facts?
the
of
the
ascertainment
way and substitute the unlawful way for
But beyond all this, Mr. Pujo seems to be ignorant of the fact that
under the banking laws of the State of New York no trust company can
hold more than 10% of the capital stook of any other moneyed corporation.
He also has overlooked the fact that no trust company can have more than
10% of its capital and surplus invested in the stock of any corporation,
whether moneyed or not. No control of any such corporation, therefore, is
within the bounds of possibility in this State. As a lawyer, Mr. Pujo knows
that there is a vast difference between the powers of investigation where
an offense has been committed and the mere fishing expedition. It there
were any charge made against the Fidelity Trust Co. that It was interfering
with Inter-State commerce or that It was violating the Sherman Act, there
would be a way to reach it; but no such pretense Is made.
I await with interest the further action of the committee.
In a letter written under date of May 30 to Chairman
Pujo by Samuel Untermyer, Counsel to the Committee, and
given out this week, reference is made to correspondence
which had passed between the two, embodying conditions
under which Mr. Untermyer had consented to act as Counsel
in conjunction with E. H. Farrar. We take from Mr.
Untermyer's letter the following extracts:
Dear Sir.—In view of the rapidly approaching end of the session and
apparent difficulty in securing a favorable report of any action
whatever from the Mance Committee of the Senate upon the bill that has
oq the
"The Detroit Clearing-House Association, representi ng the banks of
Detroit, at a meeting held on May 31, A. D. 1912, having under consideration the request of the Committee on Banking and Currency of the United
States House of Representatives for information in regard to the details
of the business of the banks and with respect to the confidential relations,
personal and otherwise, which exist between banks and their customers,
after full and careful consideration, respectfully submits:
"While the associated banks will cheerfully answer the inquiries of the
Congressional Committee in a general way, they do not deem it wise to
submit to public disclosure the personal and confidential relations existing
between the banks and their customers.
"It is also the judgment of the banks of this Association that it is an
unwise precedent to disclose their confidential relations with their customers
to any committee of Congress, feeling that this would be a reflection upon
the office of the Comptroller of the Currency and that of the State Banking
Commissioner, who have on file or have access to the information asked for
and are in position to furnish what details the Government may require."
—The adoption of the finger-print system of identification
by the Eastern District Savings Bank of Brooklyn Borough
is announced. The Brooklyn "Eagle," in noting this addition to the list of banks which are now employing the new
system, states that it is the seventh in that borough to use it,
the others being the German Savings Bank, the Williamsburgh Savings Bank, the Greenpoint Savings Bank, the
Greater New York Savings Bank, the East Brooklyn Savings
Bank and the City Savings Bank.
—The new Columbia-Knickerbocker Trust Co. of this city,
created through the merger of the Columbia Trust Co. and
Knickerbocker Trust Co., began business on Thursday,
the 6th inst., following the ratification of the proceedings
for their union by the respective stockholders on the 4th inst.
The enlarged institution has a capital of $2,000,000, a surplus
of $7,000,000 and deposits of $60,000,000, of which something over $38,000,000 wa3 contributed by the Knickerbocker and about 2134 millions by the Columbia. The
arrangements under which the merger has been effected
have already been detailed in these columns, in our issues
of May 18 and 25. Willard V. King, President of the
1542
THE CHRONICLE
[VoL. lax= v.
Columbia Trust Co., is President of the newly-formed or—Another instance of the progressiveness of the Fidelity
ganization, and Charles H. Keep, President of the Knicker- Trust Co., Newark, N. J., is found
in the fact that it has
bocker, is Chairman of the board. The other officers of the recently established
an advertising department. To take
Columbia-Knickerbocker Trust Co. are Augustus G. Paine, entire charge of this work,
the company, acting through
Benjamin L. Allen, Howard Bayne, Francis Henderson, Uzal H. McCarter, its President,
has appointed Frank T.
Julian M. Gerard and William Turnbull, Vice-Presidents; Allen, a former Newark newspaper
man. The Fidelity not
Langley. W. Wiggin, Secretary; Harris A. Dunn, Treasurer; only does a general
banking business, but it conducts bond,
Geo. Earle Warren, •Trust Officer; Frederick C. Marston, savings, trust, title,
mortgage and safe-deposit departments,
Assistant Treasurer; James E. Miller, C. A. Austin and J. all of which this new
department is effectively advertising
Sperry Kane, Assistant Secretaries; Orrin R. Judd, Assist- in a variety of ways.
ant Trust Officer; Paul H. Hudson, Auditor, and Park
—The receiver of the Bank of Wayne,at Lyons, N. Y., it is
Terrell, Manager of the Municipal Department. The new
stated, has arranged to pay a dividend of 15% to the deinstitution is one of the largest independent companies in
positors; 75% has already been distributed in two payments,
the country, and, as in the case of both the merging comviz.: 50 and 25% respectively, thus bringing the aggregate
panies, there will be no dominant interest in control. The
up to 90%. The bank closed its doors on November 9 1910.
Columbia-Knickerbocker Trust Co. is a member of the
—The directors of the enlarged Phoenix National Bank of
Clearing House, retaining the membership of the Columbia
Hartford (with which the American National was consoliTrust Co. under the latter's number-111.
dated several weeks ago) have approved the report of the
• —Laurence- H. Hendricks, Cashier of the New York State committee on nominations
, which recommended the followNational Bank of Albany, N. Y., following the example of ing officers: President,
Frederic L. Bunce; Vice-President,
his predecessor, Willis G. Nash, has resigned to enter a Joseph H. King; Cashier,
Leon P. Broadhurst, and Assistant
New York bank. Mr. Hendricks has been elected Vice- Cashiers, William B. Bassett, William
J. Dixon and Merrick
President of the National Nassau Bank of New York. He W. Chapin. Messrs. Bunce, Broadhurst
and Bassett were
suceeeded Mr. Nash in the cashiership of the New York State respectively President, Cashier and
Assistant Cashier of
Bank in March 1908, having previously been associated with the Phoenix National,
while Messrs. King, Dixon and
that institution as Assistant Cashier from 1902. Mr. Chapin were President,
Cashier and Assistant Cashier,
Hendricks' earliest banking experience was gained in the respectively,of the American
National. The directors of the
National Commercial Bank of Albany, which he entered in consolidated bank are Richard M.
Bissell, W.E. A. Bulkeley,
1883, remaining there for nine years, and advancing in that Frederic L. Bunce, Frank Cheney
Jr., Samuel G. Dunham,
period from assistant receiving teller to Assistant Cashier. Henry C. Dwight, John M. Holcombe,
Lyman B.
The National Nasqau Bank, originally the Nassau Bank, Jewell, Joseph H. King, Charles H.
Northam, Albert
dates back to 1852; it was converted to the national system L. Pope, Henry E. Rees, Charles
D. Rice, George
in 1911. Its development under the presidency of Edward Roberts, Henry Roberts, Charles L.
F. Robinson, Jerome
Earl, who assumed the chief office in 1908, has been marked. E. Sage, William C. Skinner, Harry
B. Strong, John M.
The capital was recently increased from $500,000 to $1,000,- Taylor, James M. Thomson, Weston
W. Walker and Frank
000, the par value of the shares being changed at the same L. Wilcox. •
time from $50 to $100. A special meeting of the share—Aram J. Pothier, Governor of Rhode Island, was elected
holders is to be held on July 2 to elect four new directors, President of the Union Trust Co. of
Providence on the
thereby increasing the number from seven to eleven.
1st inst., to succeed Rathbone Gardner, resigned. Mr. Gard—H. B. Brundrett, who, as indicated last week, has ner had been at the head of the institution since it re-opened
retired from the presidency of the Pacific Bank of this city, in May 1908 after it suspension Oct. 25 1907, and his withhas been elected to the office of Chairman of the board, with drawal is in accordance with his purpose to retire with the
full executive power. Orion H. Cheney is the new President full rehabilitation of the company, recently effected. In the
reorganization, which occurred on the 1st inst., Marsden J.
of the bank.
—Henry E. Cooper and A. Ludlow Kramer have become Perry, who was Vice-President of the company at the time
vice-presidents of the Equitable Trust Co. of this city. of its suspension, has become Chairman of the board.
Mr. Cooper has been a member of the company's executive Archibald G. Loomis continues as Vice-President and Harold
committee, while Mr. Kramer had heretofore been manager J. Gross has been added to the officers as a Vice-President.
of the bond - department; Roswell C. Tripp has been chosen Walter G. Brown has retired as Secretary and Treasurer,
and,pending the election of his successor, the duties of that
fill the last-named position.
—Harris, Forbes .36 Co., who in January 1911 succeeded office will be looked after by Clinton F. Stevens, Assistant
the old banking house of N. W. Harris ez Co., New York, Secretary and Assistant Treasurer. Mr. Gardner has been
have arranged to largely increase their office space at the elected General Counsel. Only three of the directors who
corner of Pine and William streets, this city. In addition to were heretofore members of the board continue on the dithe ground floor on the corner, a long lease has been taken of rectorate, which has been increased from 14 to 18, those
the entire second and third floors, together with the entire re-elected being Samuel M. Nicholson, Harry Cutler and
building, consisting of four floors, immediately adjoining on Archibald G. Loomis, while the fifteen new directors, in
William Street, and recently occupied by the Commercial addition to Gov. Pothier and Mr. Perry, are William W.
Union Assurance Co. A private elevator is being installed, Douglas, former Chief Justice of the Supreme Court; Benjaconnecting the various floors, and it is planned to move the min A. Jackson; Harold J. Gross; Walter W. Griffith; Joseph
executive offices and conference rooms to the second floor, Satnuels; George W. Thurston, Treasurer of the American
at the corner of Pine and William streets, thus giving over to Screw Co.; Clarence L. Watson, Charles Alexander, Arthur
the sales and banking departments the entire ground floor H. Watson, W iliam B. Greenough, Everett L. Spencer,
space of the building on the corner of Pine and William, Albert A. Remington and Phillip Allen. Gov. Pothier
together with the adjoining and connecting building on is also Vice-President of the Woonsocket Institution for
Savings.
William Street.
—Royal C. Taft, formerly Governor of Rhode Island, for
—John H. Stoddard and William M. St. John have been
years one of the most prominent bankers of Providence, and
appointed Assistant Cashiers of the National Bank of
at one time a leading manufacturer of the city, died on the
Commerce in New York.
4th inst. in his ninetieth year. Mr. Taft was born in North—The new Transatlantic Trust Co. of this city, at William bridge, Mass.,
and like President Taft was a descendant in the
and-Cedar streets, has been appointed fiscal agent in the seventh generation
from Robert Taft, one of the first settlers
United States and, Canada for the Royal Hungarian Postal
of Mendon, Mass. While associated with several ProviSavings Bank of Budapest, Hungary.
dence banking institutions, ex-Gov. Taft's main interest had
77-The directors of the Guaranty Trust Co. of New York been in the Merchants' National Bank,
of which he had
have declared the regular quarterly dividend of 8% and an been President for forty years, serving as
its head from 1868
extra dividend of 2% on the capital, payable June 29 1912 to 1908. When he retired in the latter year he was succeeded
to stockholders of record at the close of business on that date. by Edward D. Pearce, who in 1909 declined re-election, and
, —George A. White has been elected Cashier of the New Col. Robert W. Taft, a son of the late Governor, was chosen
York State National Bank of Albany, N. Y., succeeding to the presidency and still continues in that capacity.
Laurence H.,Hendricks,who, as noted in another item, has Gov. Taft had also officiated as Vice-President of the Proviaccepted the vice-presidency of the National Nassau Bank dence Institution for Savings, and was a director and memdfNew York. As Assistant Cashier, the post lie had hereto- ber of the Finance Committee of the Rhode Island Hospital
fore filted,1111r..5White is replaced by William Bruce.
Trust_Co.MAs showing the diversity,ofihislinterests,:itImay
JUNE 8 3.912.i
THE CHRONICLE
1543
be mentioned that he had acted as Treasurer and later as last November charging him with having forged bills of
President of the Rhode Island Hospital, and had also,from lading, and for whom a search had since been made, was
1893 to 1901, been President of the Providence Gas Co.; he brought to Baltimore on the 29th ult., following his arrest
had likewise been President of the Boston & Providence at Naples, Italy, on May 8. Eight new presentments were
RR., a director of the New York New Haven & Hartford handed down against him on the 31st ult., Judge Elliott deRR., &c. He had served as Governor of the State in 1888, ciding to release him and to accept the same property,
and had previously been a member of the State Legislature. worth $50,900, which had previously been pledged. The
firm was placed in receiver's hands on Nov.3 on the petition
—The George W. Hallock Bank of Bath, N. Y.(a private
of several Baltimore banks, which, with the National Park
institution), closed its doors on the 31st ult. The failure, it is
Bank of New York, suffered losses through the alleged forged
paper
commercial
on
s
over-loan
to
largely
reported, was due
bills.
was
bank
The
holdings.
and heavy investments in realty
—The plans for the consolidation of the Capital National
organized in 1849 by the late William Hubbell, whose sonBank
charge.
and the Indiana National of Indianapolis, as set forth
in
subsequently
was
Hallock,
W.
G.
in-law, the late
W. N. Hallock, a great grandson of the founder, is Cashier. in our issue of May 4, were ratified by the stockholders of
William H. Nichols was appointed temporary receiver on the two institutions on May 29. The consolidation will go
June 1. The bank is said to have deposits of over $600,000. into effect on July 1, and will be consummated under the
Its accounts included the Village Hall funds; this money, it name of the Indiana National Bank, with Volney T. Malott,
is reported, is protected by the Village Treasurer, W. N. President of the latter, as Chairman of the Board, and Frank
Hallock, and three sureties, of which the Village Treasurer D. Stalnaker, President of the Capital National, as President
is one. Work on the Village Hall was interrupted as a result of the united bank.
of the closing of the institution, but has since been con—The stockholders of the German-American Trust Co.
tinued pending the adjustment of the funds; on the 1st inst. and the Marion Trust Co. of Indianapolis ratified on May 13
the Farmers' & Mechanics' Bank of Bath was voted as the proposed consolidation of the two, which was referred to
depository for the village moneys.
in these columns April 13, and is to go into effect on July 1.
BankAmerican
the
of
President
—On Monday June 3 the annual election of the Chicago
—William Livingstone,
ers' Association, and President of the Dime Savings Bank of Stock Exchange was held. The following officers were
Detroit, will address the Pennsylvania Bankers' Association elected for the ensuing year: President, James J. Townsend;
at its annual convention to be held at Bedford Springs, Pa., Treasurer, Edwin G. Foreman; Governing Committee: To
on the 18th and 19th inst. B. F. Harris of Champaign, Ill., serve one year, to fill vacancy, John E. May; to serve three
President of the Illinois Bankers' Association, will also con- years, Frederick C. Aldrich, William Coffeen, Frederick D.
tribute to the program of the Pennsylvania bankers, with an Countiss, Henry D. Sturtevant, Frank W. Thomas and Heraddress on "The Banker and his Relation to the Public Wel- mann Wollenberger. At a special meeting of the Governing
fare." Action will be taken at the meeting on a proposed Committee on Wednesday Morton D. Cahn was elected to
amendment to the constitution of the association plac- fill the vacancy in the committee caused by the recent resiging the administration of its affairs in a council to be known nation of B. R. Cahn. At the same meeting the following reas the "Council of Administration," consisting of 28 members, elections occurred: Walter L. Brewster, Vice-President;
three to be elected by each group. The President, Vice- Charles T. Atkinson, Secretary, Chairman and Manager of
President, Secretary and Treasurer of the association and the Clearing House, and Ford R. Carter, Vice-Chairman.
Chairman of the Trust Company Section are to be ex-of—The State Bank of Chicago, now located in the Chamber
ficio members of the council, and the retiring President is to of Commerce Bldg., has leased the banking floor of the new
be an honorary member of the council for one year imme- Otis Bldg., 10 South La Salle St. The bank has also leased
diately after his successor is elected.
40 feet on the La Salle St. front of the ground floor of the
—Charles S. Walton, Vice-President of the Central Trust building for its trust department and 5,000 sq. ft. in the
& Savings Co. of Philadelphia, has been elected President of basement for its safe deposit vaults. The lease runs for ten
the institution, succeeding Howard M. Van Court, resigned. years, with an option of a ten-year renewal. The bank will
Mr. Van Court will serve the company as Chairman of the move into its new quarters about Oct. 1. The State Bank
Board on his return from abroad, where he will undergo spe- has been in its present location for fifteen years, during which
cial treatment necessitated by the impairment of his sight. time its deposits have increased from $2,261,381 to $26,Mr. Walton has been Vice-President of the institution since 025,300. This increase in business rendered the old quarits organization, in 1903. He is President of the England ters entirely inadequate to present needs.
Walton Company, Inc., and a director in the Union National
—The annual meeting of Group IV. of the Illinois Bankers'
Bank and other organizations.
Association, will be held in Yorkville, Ill., on Tuesday June
—Stockholders of the Logan Trust Co., Philadelphia, on 11. Group IV. comprises the following counties: Cook, Du
the 3d inst. approved the proposition to increase the capital Page, Kane, Kendall, Lake, McHenry and Will. James M.
from $500,000 to $1,000,000. As announced in our issue of Hurst of the National Bank of the Republic, Chairman of
April 6, the new stock will be issued at $125 per $100 share.
the organization, announces an interesting program for the
—The suspension on Wednesday of Henry Sproul & Co., meeting, with Chas. H. Hamill of Chicago as the principal
one of the oldest brokerage houses in Pittsburgh, brought speaker of the day. Besides the regular election of officers
forth general expressions of regret. Following the filing of for the ensuing year, the group will elect at this meeting one
a bill in equity against the firm, on petition of John B. Bar- member of the executive council of the Illinois Bankers' Asbour and William J. Bauer, the South Side Trust Co. of sociation, and two members of the executive council of the
Pittsburgh has been named as receiver. The firm, com- American Bankers' Association.
posed of Henry Sproul and N. R. Evans, was a member of
—Under a resolution passed at the annual convention of
the New York Stock Exchange, the Pittsburgh and Chicago the Tennessee Bankers' Association, held at Knoxville May 29
Stock Exchanges and the Chicago Board of Trade.
and 30, the appointment of a committee of six is authorized,
—W,S. Kuhn, of the firm of J. S. & W.S. Kuhn, Inc., "to study agricultural conditions in Tennessee and report
was elected President of the Second National Bank of Pitts- back to the convention of next year with recommendations."
burgh on the 3d inst., succeeding H. C. Bughman, who has The bankers also placed themselves on record as favoring a
resigned because of ill-health. The directors have created new constitution for the State, and in their resolution petithe office of Chairman of the Board, and have elected Mr. tioned the next Legislature to take steps to that end. A
Bughman to the new position. Mr. Kuhn, the new Presi- further resolution offered by Joseph P. Gaut, President of
dent of the Second National, is a Vice-President of the Pitts- the Holston National Bank of Knoxville, and adopted unanimously, favors the unconditional repeal of the back-tax laws
burgh Bank for Savings.
the
of
office
a revision of the entire taxing system,in order that the
assumed
and
on
the
1st
Morrison
inst.
C.
— George
President of the Title Guarantee & Trust Co. of Baltimore, burdens of taxation may be more equitably borne.
—A.E. Potter, Cashier of the Broadway National Bank of
succeeding Edgar G. Miller Jr., retired. Mr. Morrison is a
Vice-President of the Baltimore Trust Co. He is also at the Nashville, was elected President of the institution on the
head of a new organization which is to finance the construc- 27th ult. to succeed the late H. G. Lipscomb. A new office
tion of an office building to be erected at• the Court House was created, that of Chairman of the Board, and Julian S.
Plaza and Lexington Street, in which the title company will I Cooley was elected to fill the position, David U. Lipscomb
was elected a director to succeed his father. Action toward
have quarters.
—Pembroke W. Pitt of the failed grain firm of Pitt Bros. & the election of a new Cashier has been postponed until a later
Co. of Baltimore, against whom a presentment was returned date.
1544
THE CHRONICLE
[VOL. Lxxxxxv.
of the length of the other tables is crowded out once a month.
TRADE AND TRAFFIC MOVEMENTS.
The figures are received by telegraph from other leading cities.
COPPER PRODUCTION AND CONSUMPTION.-The
May statement of the Copper Producers' Association, issued
Clearings-Returns by Telegraph.
yesterday, showed a decrease of 15,450,386 lbs. in the
Per
1912.
Week ending June 7.
1911.
Cent.
stock of marketable copper, the amount declining from
65,066,029 lbs. on May 1 to 49,615,643 lbs. on May 31. New York
51,772,995,928 $1,595,997,560 +11.1
150,800,446
Boston
131,057,974 +15.1
This compare's with an increase in stocks of 2,698,472 lbs. Philadelphia
137,300,306
138,193,090
-0.6
during the preceding month. In the following table we Baltimore
30,965,624
27,633,888 +12.1
257,528,964
226,679,970 +13.6
furnish a comparison of the various items for the month of Chicago
72,040,268
Louis
61,396,064 +17.3
May in 1912 and 1911 and the periods Jan. 1 to May 31 1912 St.
12,481,151
New Orleans
13,757,879
-9.3
and 1911. We also add figures showing the European visible
$2,434,112,687 $2,194,716,425 +10.9
Seven cities, 5 days
supply.
513,268,941
485,114,296
Other cities, 5 days
+5.8
May
-Jan. 1 to May 31Copper1912.
1911.
1912.
1911.
Stocks beginning period____lbs_ 65,066,029 165,555,908 89,454,695 122,030,195
Production
120,737,836 126,962,544 613,270,643 601,104,735
Total supply
Deliveries for:
Domestic consumption
Export
191,803,865 292,518,452 702,725,338 723,134,930
72,702,277 64,543,963 328,275,858 275,629,957
69,485,945 61,978,557 324,833,837 281,509,041
142,188,222 126,522,520 653,109,695 557,138,998
Stocks end of period
European visible supply:
Beginning of nertod
Bad of period
Total all cities, 5 days
All cities, 1 day
Total all cities for week
+10.0
-0.9
$3,506,799,841
$3,244,485,797
+8.1
49,615,643 165,995,932 49,615,643 165,995,932
111,487,040 174,874,660 128,313,920 187,705,280
99,944,320 162,653,120 99,944,320 162,653,120
ANTHRACITE COAL PRODUCTION.-The anthracite
coal shipments to market during May 1912 reached 1,429,357
tons, which compares with 6,317,352 tons in May last year.
The miners returned to work on May 22, after having been
idle 44 working days. The shipments by each carrier for
May and the five months ending May 31 this year and last
year are shown in the following:
RocaPhiladelphia & Reading
tons.
Lehigh Valley'
Central Railroad of New Jersey____
Delaware Lackawanna & Western_
Delaware & Hudson
Pennsylvania
Erie
Ontario & Western
Total
May
1912.
1911.
201,575 1,223,050
202,747 1,166,540
128,099
841,532
277,140
886,540
184,598
622,663
145,702
598,925
235,986
748,741
53,510
229,361
1,429,357 6,317,352
Jan. 1 to
1912.
4,094,665
3,536,978
2,521,302
2,881,219
1,902,881
1,799,217
2,458,634
710,437
19,905,333
May 311911.
5,535,087
5,223,960
3,793,012
3,930,512
3,046,604
2,864,725
3,595,303
1,104,963
29,094,226
Canadian Bank Clearings.-The clearings of the Canadian
banks for the month of May 1912 show an increase over the
same month of 1911 of 26.5%, and for the five months the
gain reaches 24.4%.
May.
Fire Months.
Clearings at
1912.
1911.
Inc. or
I Dec.
1911.
1912.
Inc. or
Dec.
$
%
$'
$
$
218,675,889 209,994,401 4 18.7 1,064,114,072 918,472,776 +15.9
206,382,191 163,524,424 +16.2 857,445,042 734,318,633 +16.8
139,362,002 99,142,864 +40.6 574,430,934 397,510,645 +44.6
55,979,196 46,522.543 +20.3 251,928,420 207,528,406 +21.4
24,599,610 18,545,542 +32.6 110,230,478
82,857,455 +33.0
67,257,080
14,814,154 12,670,53 +16.9
54,815,156 +22.7
24,105,424 19,241,003 +25.3 100,783,770
74,612,158 +35.1
13,901,669 11,090,345 +25.3
62,644,503
47,011,162 +33.3
18,229,250 9,247,283 +97.1
83,091,988
42,131,322 +97.2
56,402,539
13,0/8,471 11,154,099 +17.2
48,414,370 +16.5
33,991,565
7,657,473 7,312,739 +4.7
31,421,189 +8.2
39,096.607
8,043,667 7,197,142 +10.2
33,993,650 +15.0
7,567,286 6,148,717 +23.1
33,658,935
29,166,086 +15.4
8,738,392 5,835,997 +49.7
41,602,034
24,681,117 +68.6
10,598,108 4,747,048 +123.3
42,346,774
19,160,951 +121.0
21,875,546
10,996,864
5,037,086 3,411,958 +47.7
2,932,396 2,488,618 +17.8
13,045,665
10,436,081 +25.0
12,116,277
2,465,026 3,833,024 -35.7
11.956,753 +1.3
3,052,826 2,177,936 +40.2
11,825,385
10,204,557 +15.9
Not includ. in tot.
Not included in total
Total Can. 810,183,030 640,474,256 +26.5 .3,456,012,068 2,778,692,467 +24.4
* Not included in total; comparison incomplete.
The clearings for the week ending June 1 make a satisfactory comparison with the same week of 1911, the increase
in the aggregate having been 15.9%.
Week ending June 1.
May.
Five Months.
Clearings at
Inc. or
Dec.
1911.
$
$
San Francisco_ 207,871,978199,364,514
Los Angeles.., 99,653,310 82,590,422
Seattle
48,838,966 46,429,485
Portland
48,594,639 44,518,677
Salt Lake City_ 29,951,496 25,207,701
Spokane
18,932,336 18,289,914
Tacoma
18,389,613 17,724,584
Oakland
15.788,212 14,170,637
San Diego
10,136,533 6,799,840
Sacramento
7,132,219 6,062,687
Pasadena
3,935,882 3,779,985
Fresno
4,100,014 2,726,433
San Jose
2,496,998 2,128,816
Stockton
3,458,770 3,114.771
North Yakima
1,913,281 2,088,201
Ogden
2,616,998 2,240,949
Boise
3,116,925 3,258,462
Reno
1,134,218 1,019,188
Total Pacific 528,062,383 181,515,351
Kansas City
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Duluth
Sioux City_ _ _ _
Wichita
Lincoln
Davenport_ _ _
Topeka
Cedar Rapids_
Fargo
Sioux Falls
Waterloo
Colorado Spga_
Pueblo
Helena
Fremont
Aberdeen
Billings
Hastings
Joplin
1912.
Inc. or
Dec.
1911.
%
$
+4.3 1,071,614,084
+20.7 470,769.107
+5.2 235,154,252
+9.2 246,081,851
+18.8 165,086,176
+3.1
91,384,01
+3.8
92,307,71!
+11.4
80,760,622
+49.1
52,371,93
+17.7
33,648,291
+4.1
18,926,351
+50.4
18,704,177
+17.3
13,068,122
+11.0
16,666,769
-8.4
8,738,139
+16.8
13,491,284
-4.4
16,581,467
+11.3
5,761,581
$
962,066,88
380,293,24
217,346,99
224,201,10
127,052,63
90,106,28(
90,274,25
69,805,14
31,296,55
29,986,55
17,988,811
14,486,28
10,040,05
13,941,65 ,
9,799,89#
10,622,27 •
16,807,49
5,101,37'
%
+11.4
+23.8
+8.2
+9.8
+25.0
+1.4
+2.3
+15.7
+47.3
+12.2
+5.3
+29.1
+30.2
+19.5
-10.8
+28.2
-1.3
+12.9
+9.72,651,115,93! 2,321,116,491 +14.2
224,534,002206,829,167 +8.01,086,766,8611,070,091,37
+1.5
79,758,195 77,455,968 +3.0 409,515,284 392,991,54. +4.2
72,769,260 66,434,018 +9.5 348,976,701 314,913,60 +10.8
42,883,673 40,827,611 +5.0 227,710,66
215,118,31
+5.8
39,795,135 35,880,110 +10.9 191,436,784 179,790,72: +6.5
32,448,723 28,034,142 +15.7 170,767,33
158,701,811
+7.6
19,659,831 18,821,309 +4.5
98,673,38
90,931,211
+8.5
13,149,897 11,278,351 +16.6
60,450,64
52,595,25 +14.9
15,304,992 10,620,449 +44.1
66,016,71#
54,842,15: +20.4
15,046,332 13,033,710 +15.4
71,719,15!
66,226,361 +8.3
7,786,486 7,077,600 +10.0
36,744,01'
33,419,58.. +10.0
34,521,03
32,898,87
+4.9
6,411,677 5,877,826 +9.1
6,288,983 7,082,818 -11.2
33,274,11
33,709,71
-1.3
7,003,927 5,893,730 +18.: 31,521,60"
29,362,88
+7.4
2,318,381 3,322,646 -30.2
15,422,42
+6.6
14,461,56
2,145,000 4,396,536 -51.7
10,899,59
22,185,08- -50.9
6,146,000 5,280,812 +16.4
25,064,81' 26,142,33
+7.4
2,691,766 2,665,21: +1.0
13,884,0613,172,65. +5.4
2,536,863 2,666,828 -4.9
13,983,88.
13,557,93. +3.0
3,357,41
3,067,358 -8.5
17,820,22(
18,382,75. -5.4
1,561,752 1.542,976 +1.2
7,271,367
+6.7
6,811,13.
1,311,390 1,826,001 -28.2
6,660,682
7,634,00' -12.7
1,281,365
474,642 +169.9
6,147,612
2,235,83. +175.0
887,929
830,104 +7.0
+3.4
4,174,107
4,035,761
3,187,407 2,578,551 +23.6
14,682,23'
11.270,87 +30.3
Tot.oth.We• • 610,266,38: 564,398,481
+8.13,0)7,105,3I 2,865,960,04
+4.9
Week ending June 1.
Clearings at
1912.
1911.
San Francisco___
Los Angeles
Seattle
Portland
Salt Lake city_
Spokane
Tacoma
Oakland
San Diego
Sacramento
Pasadena
Fresno
San Jose
Stockton
North Yakima
Reno
$
41,948,662
19,060,049
8,719,560
7,707,706
6,044,489
3,146,256
3.522,899
3,011,456
1,880,327
1,121,238
690,431
800,000
477,159
597,016
386,586
220,000
$
40,137,251
16,474,252
9,905,422
9,398,355
5,421,096
3,627,194
3,446,194
3,097,497
1,941,154
1,137,432
• 685,926
555,500
490,000
606,717
433,729
220,000
Inc. or
Dec.
1910.
%
+4.5
+15.7
-12.0
-18.0
-6.9
-13.3
+2.2
-2.8
-3.1
-1.4
-1-0.7
+44.0
-2.6
-1.6
-10.8
+00.0
$
40,119,863
14,762,801
9,940,469
8,015,266
5,846,891
4,841,284
4,596,155
2,691,986
1,177,968
1,060,131
840,000
550,000
473,913
404,826
503,796
240,000
1909.
$
32,325,534
11,567,558
9,705,143
6,260,290
0,105,267
3,000,000
5,208,594
1,863,195
900,000
823,822
432,371
502,804
413,373
341,881
231,000
Total Pacific...
98,338,834
97,577,729
+0.4
96,005,348
79,730,832
48,978,156 48,881,334 +0.2 39,440,539 43,726,595
45,918,368 34,980,000 +31.3 31,503,229 29,249,047
28,171.659 21,158,481 +33.1 17,570,109 11,392,078
11,706,979 10,746,664 +8.9 8,137,191 4,905,892
4,683,555 3,979,245 +17.7 3,857,834 3,777,379
2,774,293 2,441,511 +13.6 1,883,902 1,260,949
4,657,307 4,028,338 +15.6 2,832,140 1,600,223
2,956,191 2,170,590 +36.2 2,016,837 1,523,200
3,332,912 2,177,873 +53.0 1,182,637
936,731
2,581,736 2,724,910 -5.2 2,620,044 2,324,616
1,343,328 1,332,308
1,505,226 1,508,631
1,617,059 1,802,602 -10.3 1,800,432 1,874,722
1,384,679 1,277,130 +8.4 1,266,842 1,203,345
901,860
1,569,627 1,258,257 +24.7
1,908,028 1,112,377 +71.6
991,484
837,171 +18.4
600,514
508,390 +18.1
461,138 1,421,341 -67.6
439,341
518,775 +12.1
581,880
1,262,422 Not include d in tot at.
Kansas City_ ___
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Duluth
Sioux City
Wichita
Lincoln
Davenport
Topeka
Cedar Rapids__ _
Fargo
Waterloo
Colorado Springs.
Pueblo
Helena
Fremont
Aberdeen
Billings
Hastings
42,566,837
15.000,000
13,500,000
8,201,392
7,687,392
5,962,497
3,377,966
2,343,351
2,800,000
2,797,000
1.496,504
1,247,948
1,058,150
1,124,227
231,270
1,184,280
580,000
451,809
625,070
262,961
300,000
231,007
185,677
39,341,382
15,580,833
13,276,623
8,337,907
7,240,925
6,190,312
3,321,145
2,186,456
2,556,023
2,333,280
1,601,082
1,396,278
1,456,287
1,304,799
578,384
880,146
600,000
600.596
726,673
422,482
368,655
92,9,9
192,692
+8.2
-3.7
+1.7
-1.6
+6.2
-3.7
+1.7
+7.2
+9.5
+19.9
-6.6
-10.7
-27.3
-13.8
-58.3
+33.6
-3.3
-24.9
-11.0
-37.7
-16.6
t-148.4
-3.6
41,400,160
16,645,955
14,538,370
10,711,941
9,355,813
5,922,253
3,316,920
2,094,977
2,513,757
2,910,362
1,510,479
1,721,064
1,081,3114
1,459,306
667,713
888,000
740,000
470,096
880,546
352,658
522,785
166,199
185,001
38,170,453
15,637,778
13,866,058
8,024,117
8,582,712
5,474,984
3,253,349
2,854,841
2,108,922
2,027,199
1,488,660
1,190,363
991,983
1,123,081
520,909
166,379,791 143,533,600 +15.9 116,796,260 105,107,185
Tot. 0th. West
113,219,338
112,234,655
+0.9
120,953,727
106,899,857
Clearings at1912.
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Victoria
Calgary
Hamilton
Edmonton
Quebec
St. John
Halifax
London
Regina
Saskatoon
Moose Jaw.
Lethbridge
Brantford
Brandon
Fort William
Total Canada
$2,679,830,721
564,655,076
Pacific and Other Western Clearings brought forwardifrem
first page.
1912.
CanadaMontreal _ _
Toronto _ _ _
Winn!peg _ _ _
Vancouver _ _
Ottawa __
Vietoria _
Calgary _
Hamilton_ __
Edmonton_
Quebec
St. John__ _
Halifax
_
London
Regina
_
Saskatoon
Moose Jaws_
Lethbrldge _
Brantford
Brandon _
Fort William
$2,947,381,628
559,418,213
1911.
Inc. or
Dec.
1910.
1909.
620.093
436,487
838,123
411,098
178,693
Clearings by Telegraph-Sales of Stocks, Bonds, &c,_
Our usual monthly detailed statement of transactions on
The subjoined table, covering clearings for the current week, the New York Stock Exchange is appended. The results
usually appears on the first page of each issue, but on account for the five months fo 1912 and 1911 are given below.
Five Months 1911.
Five Months 1912.
Description.
Actual
Value.
Par Value
or Quantity.
Actual
Value.
Aver. Par Value
Price. or Quantity.
Aver.
Price
43,919,5811
62,166,810
StockfSh's.
iVal.$5,614,115,700 35,522,510,953 98.4 $3,884,414,300 33,780,340,005 97.3
307,185,945 96.6
318,014,500
335,525,872 96.5
347,821,500
RR. bonds
140,158 107.4
130,500
950,542 102.6
926,500
Gov't bds_
59,283,001 99.7
98.5
59,450,000
11,100,246
11,268,500
State bonds
2,318,035 241.0
961,000
785,153 284.4
316,100
Bank st'ks
Total _
$5,974,448,300 15,870,872,766 98.3 34,262,971,200 34,149,267,114 97.3
The volume of transactions in share properties on the
New York Stock Excbange each month since Jan. 1 in 1912
and 1911 is indicated in the following:
SALES OF STOCK AT THE NEW YORK STOCK EXCHANGE.
1911.
1912
Values.
Wth. Number
of
Shares.
Par.
Aaual.
Number
of
Shares.
Values.
Actual.
Par.
$
Jan - 10,9013,138 970,876,425 958,417,286 10,416,526 907,563,871 872,467,419
879,948,718
621,704,400
602.463,418
10,194,217
902,448,901'
7,086,544
Feb..
Mch- 14,552,052 1,334,837,225 1,312,748,973 6,823,868 619,067,575 600,479,480
lstqr 32,544,734 2,927,418,0502,873,629,677 27,434,611 2,429,080,35C 2,352,895,617
April 15,959,338 1,452.962.700 1,438,401,408 5,369,350 471,409,900
May 13,662,74711,233,734,950 1,210,479,868 11,115,578 983,924,053
456,396,404
971,047,984
MONTHLY CLEARINGS.
Clearings, Total All.
Clearings Outside New York.
Month.
1912.
1911.
1912.
1911.
8
$
Jan __ 15,175,151,478 14,494,695,194 +4.7 6,339,569,939 5,963.447.224 +6.3
12,968,617,648 12,269,918,159 +5.7 5,655,964,284 4,974.752.712 +13.7
Feb
Mch _ _ 14,520,179,200 13,470,154.904 +7.8 6,103,224,978 5,848,553,399 +4.3
1st qr_ 42,663,948,325 40,234,768.257 +6.0 18,098,764,201 16,786,753.335 +7.8
April
5,043,870.510 12,403,607,059 +21.3 0,213,715,072 5,433,794,576 +14.3
May _ 14,883,285,501 13,524,593,344 -1-10.0 6,103,508,019 5,565.969,3341 +9 7
The course of bank clearings at leading cities .of the country for the month of May and since Jan. 1 in each of the last
four years is shown in the subjoined statement:
BANK CLEARINGS AT LEADING CITIES.
Jan. Ito May 31
May
1909.
1910.
1911.
1912. 1911. 1910. 1909. 1912.
000,000s
$
$
a
$
$
$
$
$
omitted.
8,780 7,959 7,807 8,096 42,175 38,376 44,595 39,970
New York
5,948 5,592
5,723
6,340
1,322 1,195 1,156 1,146
Chicago
3,514
3,477 3,617
663 3,903
629
647
716
Boston
2,709
3,158 3,245
558 3,339
634
047
671
Philadelphia
1,372
1,548
1,601
1,662
263
318
313
350
St. Louis
897
1,075
1,061
1,114
183
215
215
235
Pittsburgh
760
931
962
1,072
150
183
199
208
San Francisco
558
543
532
586
103
100
104
126
Cincinnati
577
642
716
784
121
122
143
158
Baltimore
942
1,093
1,070
1,087
179
203
207
225
Kansas City
328
403
402
445
64
82
92
80
Cleveland
353
424
420
450
65
71
90
Orleans
77
New
350
442
393
410
73
82
77
Minneapolis
80
281
301
297
325
45
53
Louisville
54
67
289
380
381
441
99
67
84
80
Detroit
240
270
289
55
298
50
59
45
Milwaukee
267
338
380
100
83
471
69
56
Los Angeles..
155
171
183
173
32
32
33
36
Providence
299
361
315
349
69
61
66
73
Omaha
182
207
229
209
37
41
43
48
Buffalo
188
229
215
35
228
49
41
43
St. Paul
161
190
181
180
34
38
35
40
Indianapolis
186
203
191
180
36
40
36
40
Denver
141
167
163
184
28
38
34
35
Richmond
114
137
149
170
21
22
27
29
Memphis
207
252
217
235
48
48
46
49
Seattle
77
105
93
96
15
17
19
22
Hartford
126
138
127
165
27
31
25
30
Salt Lake City__
Total
Other cities
13,810 12,557 12,279 12,251 67,122 61,270 67,935 50,841
3,782
4,651
4,893
752 5,469
900
928
1,073
14,883 13,525 13,179 13,003 72.591 66,163 72,586 64,623
Total all
Outside New York. 5.103 5.556 5,372 4,007 30.416 27,787 27,9o1 24,653
BitonetaviqgcnirtnercialignglisixBous
(From our own correspondent.)
London, Saturday, June 11912.
The last settlement in May began on Tuesday morning,
when the Stock Exchange opened after Whitsuntide, and
only ended last evening. During the nineteen days that
preceded the settlement, there had been continuous selling
by impecunious speculators, who had joined in the very
rash speculation which sprang up while the great coal strike
was going on. When the strike ended it was hoped that the
investing public would come in and buy the stocks that had
become fashionable, and had been run up to extravagant
prices. The investing public, however wisely did nothing
of the kind, and as most of the speculators had little business
knowledge and not .much money, they found themselves
very soon in difficultles. Liquidation then began and it has
been going on ever sine. The settlement, however, passed
off without a single failure, though it was said last evening
that the checks of one member had been returned. The
best opinion now seems to be that the compulsory liquidation
is ended. Those who had not credit or could get no help from
their friends have been forced to sell. But it is thought that
friends have taken over the stocks which some members of
the Stock Exchange were left with by clients who could not
pay their differences. Those who have now taken the stocks
are rich enough) to hold them as long as may be necessary.
Therefore it is taken for granted that they will not be sold
until the market has become firm enough to allow of their
being absorbed.
1545
THE CHRONICLE
(TUNE 8 1912 j
If the compulsory liquidation is really ended, there will,
no doubt, be an early recovery. But nothing favors the
view that speculation on a considerable scale will revive.
For one thing, the war between Italy and Turkey warns all
cautious people from committing themselves to much risk.
The condition of the Balkans, again, is anything but reassuring, while nobody knows what are the real relations at
the moment between Italy and her two allies; and still less
does anybody understand what is about to be done by Russia. Another speculation, therefore, is highly improbable.
And it is rendered the more improbable because none of the
Continental bourses is in a position to support it. In Paris,
the disturbed state of Morocco deters from rash business.
To establish French authority throughout that country, and
to introduce permanent order, it is now seen, will be a slow
and a costly task; and, therefore, until at least better news
comes from Morocco, it is exceedingly unlikely that much
speculation will take place in Paris.
In Berlin money is exceedingly scarce, so much so that
even now, which is usually the deadest season in the whole
year, when money is expected to be cheapest, the re chsbank keeps its rate at 5%,and there seems not the least likelihood that money will become either more plentiful or
cheaper as long as France refuses to finance Berlin as she
used to do before the Morocco scare last year.
In Vienna money is, if possible, scarcer and dearer than
in Berlin, and in Russia there is great distress. Indeed, it is
authoritatively stated that 15 millions of people there are in
need of charitable relief. Anything like active speculation,
then, is improbable, but trade is wonderfully good, not only
here at home but on the Continent likewise. April and May
have been exceedingly dry. Farmers everywhere are complaining of the drought, and rain is greatly wanted. It is
feared, therefore, that for the second year in succession there
will be a serious deficiency of hay in most cou nti iesin Europe.
With regard to the other crops, however, there is time
enough for improvement if rain conies in sufficient abundance
soon. If the harvests are good, trade will continue to improve. But if the harvests are bad, the Continental countries will suffer. In England proper the harvests do not
count for so much as they do in Continental countries. They
count for a great deal in Ireland and in a large part of Scotland. Prosperity here, therefore, would be much more affected by the crops of the countries from which we import
than by our own home crops, and if the crops are good in
the United States, Canada, Argentina and India, trade here
will continue to be as prosperous as it is at present.
The Bank of England is very strong and it continues to
have control of the open market. Indeed, during the present
week, owing to the Bank's calling in loans to make up their
balance sheets, while the Stock Exchange settlement was going on, the outside market borrowed on a large scale from
the Bank of England.
The India Council offered for tender on Wednesday 50 lacs
of its bills and telegraphic transfers, and the applications
amounted to 70634 lacs, at prices ranging from is. 4d. to
Is. 4 1-16d. per rupee. Applicants for bills at Is. 4d. and
for telegraphic transfers at Is. 4 1-32d. per rupee were allotted 4%,and above in full
English Financial Markets-Per Cable.
The.daily closing quotations for securities, Scc., at London,
as reported by cable, have been as follows the past week:
London.
Fe,
Wed. Thurs.
Tues.
Mon.
Sat.
- Week ending June?.
28
28
27 15-16 28 1-16 28
d 28
Silver, per oz
764
76 11-16 7614
77 15-16 77 11-16 c764
Consols, 24 per cents
76 11-16 7633
c77 1-16 7834
7734
7734
For account
93.85
93.90 93.774
French Rentes (in Paris).fr_ 93.7233 94.0234 94.00
8633
89
Amalgamated Copper Co_ _
89
4
8933
84%
American Smelt. & Ref. Co_ 844
8533
8654
884
8834
954
834
84
84
94
i'AnAeonda Mining Co
833
10833
Atch1son Topeka & Santa Fe.108
10834
11054
1084
11034
106
106
106
106
106
108
Preferred
1104
111
1104
11154
Baltimore & Ohio
11033
11133
904
9033
9054
904
9033
904
Preferred
27234
274
27414
271%
27354
2734
Canadian Pacific
79
814
815(
7934
794
804
Chesaneake & Ohio
174
18
18
18
18
Chicago Great Western
1734
1084
10633
10834
107
Chicago Milw. & St. Paul_ 107
10734
2014
21
20
1933
20
20
Denver It Rio Grande
36
3754
3634
35%
3734
Errereferred
3534
3633
36
354
3533
354
3554
54
5334
53
645(
5214
5234
First preferred
4334
43
43
4354
43
43
Second preferred
137
1384
137
1375(
1373j
Great Northern, preferred_ _13634
12933
1304
12934
12914
130
129
Illinois Central
16114
161
16014
163
16034
16334
Louisville & Nashville
2733
2833
295(
2734
2734
2733
Missouri Kansas & Texas
60
6154
60
61
60
60
Preferred
3734
38
40
39
3714
393.4
Missouri Pacific
65
65
65
6614
Nat. RR.of Mex.. 1st Pref 65
32
3234
31%
32
Second preferred
121
12014
14
22
13
%
225
136
122%
20,
N.Y.Central & Hudson Riv.12033
38%
38
13
38
39
38
N. Y. Ontario & Western_ _ _138%
113
113
113%
11333
115
Norfolk & Western
9233
Preferred
122
122lii-124
1iiii
5i
12-3,
Northern Pacific
6334
6334
6314
6344
634
6334
aPennsylvania
8533
85
8534
884
8634
884
aReading __
464
4611
464
464
4634
464
aFirst preferred
50
aSecond preferred
2433
213-3i
Rock Island
11134
11314
112
113%
11214
1124
Southern Pacific
2833
294
284
2833
294
28%
Southern Railway
76
76
7633
76
76
76
Preferred
17454
17333
17233
1714
175
17154
Union Pacific
93
93
93
93
93
93
Preferred
7254
72
7033
69%
694
70
U.S. Steel Corporation
ilaq 1134 1134 11333 113%
11314
Preferred
714
8
714
714
714
734
Wabash
1833
1914
184
1814
1834
1933
Preferred
70
69
69
69
70%
69
Extended 4s
_
a Price per share. b X sterling. c Ex-dividend.
2.54
1546
gam:Inertial and trastellantousBruit
National Banks.—The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
APPLICATIONS TO ORGANIZE APPROVED.
The Empire National Bank of Lewiston, Idaho. Capital. $100,000.
E. M. Ehrhardt, Correspondent. Lewiston, Idaho: T. S. Ward, H. K.
Fountain, G. E. Crum and J. E. Nickerson. (Succeeds The Bank of Cornrnerce of Lewiston.)
The First National Bank of Annapolis. Ill. Capital, $25,000. L. B.
Wilbert, Correspondent, Annapolis, Ill.; J. H. Busby, E. M. Barrett, W.M.
Shook and 11. E. Barrett. (To succeed The Johnson & Co. Bank of
Annapolis.)
CHARTER ISSUED TO NATIONAL BANK MAY 29.
10,205—The National Bank of Marlow, Okla. Capital, $25,000. W. A.
Wade, Preis.; T. L. Wade, Cashier. (Conversion of The Bank of
Marlow.)
VOLUNTARY' LIQUIDATIONS.
-6,541—The Nati°nal Bank of Pawnee City, Neb., May 14 1012. (Succeeded by The First State Bank of Pawnee City.)
.1,324—The Gallatin National Bank of New York, N. Y., May 27 1912.
(Absorbed by The Hanover National Bank of New York, Samuel
Woolverton, Adrian Iselin Jr. and George E. Lewis. of New York,
DI. Y., liquidating oommittee.)
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
Cent.
When I
Payablej
Railroads (Steam).
2% June
Alabama Great Southern, ordinary
3
Aug.
Preferred
Ate/i. 7'opeka & Santa Fe, pref.(No.25)... 234 Aug.
3
June
AtlanticCoast Line Co.(guar.)
3% July
Atlantic Coast Line RR., common
2% June
Boston & Albany (guar.)
4
July
Boston &
1
July
Boston & Maine, conimon (quar.)
1% July
Boston Revere Beach & Lynn (quar.)
Canadian Pacific, corn. (guar.) (No. (14).. 234 June
234 June
Carthage Watertown & Sackets Harbor... _
June
Chesapeake & Ohio (guar.)
June
Chicago Burlington & Quincy (guar.)._ _ 2
134 July
Chicago & Eastern Ill., pref.(guar.)
Chicago & North Western, corn.(guar.)._
13 July
2
July
Preferred (guar.)
Chicago Rock Island & Pacific (guar.)_ _
13-s June
June
Cin. N.0. & Texas Pacific, common____ 3
234 June
Common (extra)
134 July
Cleve. Cinc. Chic. & St. L., pref.(guar.)
June
2
Connecting Ry.(Philadelphia)
Delaware & Hudson Co.(guar.)
23f June
July
23
Detroit & Mackinac,corn. & pref
2% June
East Mahanoy
13 June
Erie & Pittsburgh (guar.)
3
June
Greene Railroad, guaranteed
2% July
lnterborough Rapid Transit(guar.)
2% June
_Kanawha & Michigan
1
July
Lackawanna RR.of N..1.(guar.)
3
July
Little Schuylkill Nay.,RR.& Coal
Louisville & Nashville
34 Aug.
1% July
Manhattan By. (guar.) (No. 113)
3% July
Morris & Essex. guaranteed
N. Y.Central & Hudson River (quar.)_ _ _ _
1J( July
July
5
New York & Harlem, con. & pref
N. Y.Lackawanna & West., guar.(guar.) 14 July
June
2
N. Y. N. H. & Hartford (guar.)
34 July
Norfolk Southern (guar.)
13 June
Norfolk de Western, common (quar.)
1
Aug.
Preferred (guar.)
June
Reading Company, first preferred (guar.) 1
St. Louis & San Francisco—
July
Chic. do E. Ill, earn. stk. trust certfs_ _ _ _ 5
1% July
Preferred stock trust certfs. (guar.). _
July
K.C.Ft. S.& M. pref. stk. tr afs.(qu.) 1
13-i July
Southern Pacific (guar.) (No. 23)
234 July
Union Pacific, common (guar.)
234 July
Valley RR.(N. Y.). guaranteed
Street and Electric Railways.
75c. June
American Railways (guar.)
Arkansas Val. Ry., L. & P., pref. (qtr.), 1% June
1X July
Brooklyn Raid Transit (guar.)
234 tune
Chicago City Railway (guar.)
l3. July
Cleveland Ry. (guar.)
136 Aug.
Commonwealth Pow.,Ry. & L., pref.(gu.)_
$3
June
Continental Pass.Ry., Praia
July
l
Duluth-Superior Traction, corn. (quar.)
1
July
Preferred (guar.)
3
July
Indianapolis Street By
134 July
Lake Shore Elec. Ry., lot pref.(guar.)
1
'Illy
Louisville Traction, corn. (guar.)
18 July
Manila Elec. RR. & Ltg. Corp. (guar.)._
$2 July
Massachusetts Electric Cos., preferred
134 July
Mohawk Valley Co. (guar.)
1
July
New Orleans By.& Light, corn
iq July
Preferred (guar.)
13,6 July
New York Slate Rys., corn.(guar.)
1y, July
Preferred (guar.)
234 rune
Norfolk Railway & Light Co
June
1
Nor. Ohio Tr. & Light, corn. (guar.)._
SI.JosephRy.,L
.&P.,pref.(gu.)(No.39) 13( July
Sao Paulo Tr., L. cfr P., Ltd.(qu.)(No.41) 2% July
Juno
1
Syracuse Rapid Transit, corn. (quar.).__
1% July
Preferred (guar.)
July
2
Toronto Railway (guar.)
13. July
Twin City Raold Transit, corn. (guar.)._
Preferred (quar.)
14 July
13,6 July
Union Ry.. Gas & Elec., pref. (guar.)_ _ _ _
Union Traction, Philadelphia
$1.50 July
United Trac. & Elec., Providence (guar.). 14 July
1' June
Utica & Mohawk Val. Ry.. coin.(guar.)._
Preferred (guar.)
134 June
Virginia Ry. & Power, preferred
29 July
July
West End. St. By., Boston, pref. (guar.)._ $2
Banks.
Merchants' National(No. 218)
33- July
Trust Companies.
Guaranty (quar.)
Tune
8
June
Extra
2
Miscellaneous.
American Ellnk Note, pref. (guar.)
114 July
Amer.Beet Sugar, pref.(guar.)(No.52)
1% July
July
American Can, oref.(guar.)
13
34 !My
Amer. Car & Fdy., cont. (guar.)(No.39).
Preferred(guar.)(No. 53)
1% July
$3
Orly
American Express (guar.)
1% July
American Mfg. (guar.) (No. 61)
2
July
Amer. Pipe & Construction (guar.)
June
2
American Radiator, common (guar.)._
1irl
tinye
Amer.Smelt.&Refg.,com (quar.)(No.35) 1
July
Am.Smelt. Secur., pref. A (got.)(No.30)..
Preferred U tomer.)(No. 261
[VOL. Lxxxxiv.
THE CHRONICLE
13(
Books Closed.
Days Inclusive.
27
28
1
1
10
21
Holders of rec. June la
Holders of rec. July20a
Holders of rec. June28a
May 30 to June 9
June 20 to July 10
Holders of rec. May3la
May 20 to June 1
1 Holders of rec. June la
1 Holders of rec. Junel5a
29 Holders of rec. June la
20 Holders of rec. June22a
2 Holders of rec. June 7a
2' Holders of rec. Junellla
1 Holders of rec. Junel5a
1 Holders of rec. June 3a
1 Holders of rec. June 3a
29 Holders of rec. Junel4a
13 Holders of rec. June la
13 Holders of rec. June la
21 Holders of rec. June28a
29 Holders of rec. June20a
2 Holders of rec. May28a
1 June 16 to July 2
1 Holders of rec. June 5a
ii Holders of rec. June la
19 Holders of rec. Junel4a
1 Holders of rec. June22a
29 Holders of rec. June 20
1 Holders of rev. JunelOa
15 June 11 to July 14
10 July 20 to Aug 11
1 Holders of rec. Junel5a
1 Holders of rec. June 7a
15 Holders of rec. June191
1 Holders of rec. Junel5a
1 Holders of rec. Junel5a
21) Holders of rec. June 8a
1 Holders of rec. Junel5a
19 Holders of reo. May3la
19 Holders of rec. July3la
13 Holders of rec. May29a
1
1
1
1
1
1
June 16 to July 1
June 16 to July 1
June 16 to July 1
Holders of rec. June la
Holders of rec. June la
Holders of rec. June22a
1 Holders of rec. May3la
15 Holders of rec. May3la
1 Holders of rec. JunclOa
28 June 19 to June 23
1 Holders of rec. Junel5a
1 June 20 to
Aug. 6
30 Holders of rec. May3la
1 Holders of rec. Junel5a
1 Holders of rec. Junel5a
1 June 22 to July 1
1 Holders of rec. June20a
1 June 11 to June 14
1 Holders of rec Junel8a
1 Holders of rec. June 5a
1 Holders of rec. June24a
1 June 15 to June 30
1 tune 15 to June 30
1 Holders of rec. Junel7a
1 Holders of rec. Junel7a
10 Holders of rec May 31
15 Holders of rec May3la
1 Holders of rec. Junel5a
2 Holders of rec June 10
29 Holders of rec. June22a
1 Holders of rec. June24a
2 Holders of rec. Junel5a
1 Holders of rec. JunelOa
1 Holders of rec. JunelOa
1 Holders of rec. Junel7a
1 Holders of rec. June 8a
1 June 12 to June 16
29 Holders of rec. June22a
20 Holders of rec. June22a
10 Holders of rec. June22a
1 June 23 to July 1
1 Holders of rec. June 25
Name of Company.
Per
Cent.
When
Payable.
Miscellaneous (Continued).
American Snuff, corn.(guar.)
234 July
Preferred (guar.)
144 July
Amer. Sugar Refin., corn. & pfd.(quar.).. 1% July
American Tobacco, pref. (guar.)
134 July
Milk,
Borden's Cond.
pref.(guar.)
(No.42) 1% June
British-American Tobacco, ordinary
10 June
Brooklyn Union Gas (guar.)(No. 45).._ _ _
134 July
Extra
1
July
Buckeye Pipe Line
$5
June
Buffalo General Electric (quar.) (No. 71) 134 June
Calumet & Hecla Mining (guar.)
$10 June
Canadian General Elec., Ltd., corn. (guar.) 1% July
Celluloid Company (guar.)
134 July
Central Leather, pref. (guar.)
1% July
Chesebrough Manufacturing(guar.)
6
June
Extra
June
4
Chic. June.Rye. de U.Stk. Yds.,com.(gu.) 2
July
Preferred (guar.)
134 July
Chicago Telephone (guar.)
2
June
Childs Company, corn.(guar.)
234 June
Preferred (guar.)
1% June
Columbus (0.) Gas & Fuel, pref. (gear.)..134 July
Consolidated Gas (guar.).
1% June
Consumers' Power, Mich., pref.(gear.).., 134 July
Crescent Pipe Line (guar.)
$1.50 June
Crex Carpet
June
3
Cuban-American Sugar, pref. (guar.).--.
1% July
Diamond Match (guar.)
1% June
du Pont(E.I.)de Nemours Pow.,com.(qu.) 2
Juno
Common (extra)
1
June
Preferred (guar.)
134 July
du Pont Internat. Powder, pref.(guar.).134 July
Preferred (extra)
el% July
234 July
Eastman Kodak, common (guar.)
1% July
Preferred (quar)
Elec. Lt. & P.01 Abington. &c.(No.38). $4 July
rune
Equitable Ill. Gas L., Philadelphia, pref. 3
Federal Mining & Smelting, pref. (quar.) 134 June
4
June
Galena-Signal Oil, corn. (guar.)
Preferred (guar.)
2
June
1% July
General Chemical, pref. (guar.
Gen. Chemical of Cal., 1st pref. (guar )1% July
2
General Electric (guar.)
July
Goldfield Consolidated Mines (guar.) _ _ 30c. -July
Great Lakes Towing, preferred (quar.).
151 July
Guggenheim Erp!oration (guar.)(No.38)
234 July
Helme (Geo. W.)Co.,common (No. 1)-- 2% July
Preferred (guar.)
1% July
Intercontinental Rubber, pref. (guar.).
1% June
Internat. Harvester. corn. (qu.) (No. 10) 13.1 .July
1% July
International Saver (quar.)
July
Extra
Internat. Smokeless Pow.&Ch.,com.(qu.)
34 July
July
Common (extra)
La Belle Iron Works (guar.)
234 June
ly, June
Laclede Gas Light, corn.(guar.)
Preferred
June
Lanston Monotype Machine (guar.)
134 June
Lawyers Mortgage (guar.) (No. 43)
3
July
Liggett & Myers Tobacco, pref.(guar.)._ _ _
1% -July
Lorillard (P.) Co., common (No. 1)
234 July
Preferred (guar.)
1% July
Mackay Companies, corn. (qu.) (No. 28) 11,1 July
Preferred (guar.) (No. 34)
July
1
Mergenthaler Linotype (guar.)
234 June
Extra
)4 June
Michigan Light, pref. (guar.)
134 July
Mortgage-Bond (guar.)
1)4 -Juno
Muskogee Gas & El., pref. (guar.)
1% June
National Biscuit, corn. (quar.) (No. 56), 1% July
Nat Enamel. & Stamping, pref. (guar.) hi% July
National Lead, common (guar.)(No. 34)
June
Preferred (ouar.)
1% June
National Surety (guar.)
3
July
National Transit
75e. June
Nevada Consolidated Copper (quar.)_. 3754e. June
New York Transit
July
10
Niagara Falls Power (guar.)
2
July
Niles-Bement-Pond, corn. (guar.)
134 Juno
Nipissing Mines Co. (guar.)
July
5
Extra
2% July
154 July
North American Company (guar.)
July
5
Northern Pipe Line
$1.25 June
Ohio 011
July
3
Old Dominion S'S
1% June
Pabst Brewing, pref. (guar.)
2234e. tune
Philadelphia Electric (guar.)
Pittsb. Term..W'house & Transf.(mthly.) 18%c. June
Julio
6
Prairie 011 & Gas
134 June
Producers' Oil (guar.)
234 July
Quaker Oats, corn. (guar.)
134 Aug.
Preferred (guar.)
$1.25 June
Quincy Mining (guar.)
1% June
Railway Steel-Spring, pref.(guar.)
_July
Realty Associates (No. 19)
3
June
Rubber
-Goods Mfg.,corn.(quar.)
1
June
Preferred (guar.)(No. 53)
July
Safely Car Heat. & Llg. (guar.)
2
Sears, Roebuck de Co., pref. (guar.)
1% July
June
on Oil
10
July
Rico Sugar, coin.(guar.)
1
Southhh Portso
2
July
(guar.)
$5 July
South West Pennsylvania Pipe Lines
June
2
Standard Gas Je Electric, pref. (guar.)._
June
10
Standard Oil of Nebraska
$5 June
Standard Oil of New Jersey (guar.)
June
Standard 011 of New York
6
Subway Realty (guar.)
154 July
Swift & Co.(guar.)(No. 103)
134 _July
Texas Company (guar.)
134 June
July
Underwood Typewriter, common (quar.)
July
Preferred (guar.)
lilly
Union Bag & Paper, pref. (qu.)(No. 53)_
1
July
2
Union Carbide (guar.)
July
Union Switch & Signal, coin. & pref.(qu.) 3
U. S. Steel Corp.. corn. (guar.)(No. 34). 13‘ June
75e. June
Utah Copper (guar.) (No. 16)
Westinghouse Air Brake (pay. in stock). 1,33 1-3 July
Westinghouse Air Brake (guar.)
234 July
134 July
Extra
July
1
Special
234 July
1Veinnan-Bruton Co:, corn.(No. 1)
Preferred (guar.)
134 July
254 June
Woman's Hotel (No. 10)
v 12,
7.4e. lone
ro
Yukon
Books Closed.
Days Inclusive.
1 Holders of rec. Junel5a
1 Holders of rec. Junel5a
2 Holders of rec. June la
1 Holders of rec. Junel4a
15 June 6 to June 16
29 Holders of rec. June 13
June 16 to June 30
1 June 16 to June 39
15 Holders of rec. May 15a
30 Holders of rec. June 20
20 Holders of rec. May 18
1 June 15 to June .30
1 Holders of rec. June 14
1 Holders of rec. JunelOa
24 May 28 to June 24
24 May 28 to June 24
1 Holders of rec. Junel2a
1 Holders of rec. Junel2a
29 Holders of rec.' June20a
10 June 4 to June 10
10 June 4 to June 10
1 Holders of rec. Junel5a
15 Holders of rec. May 15a
1 Holders of rec. Junel7a
15 May 21 to June 15
15 Holders of rec. May3la
1 Holders of rec. Junel5a
15 Holders of rec. May3la
15 June 6 to June 15
15 June 6 to June 15
25 July 16 to July 26
1 Holders of rec. June200
1 Holders of rec. June200
1 Holders of rec. May3la
1 Holders of rec. May3la
1 [folders of rec. June22a
15 Holders of rec. June 8
15 Holders of rec. May 24a
29 June 1 to June 20
29 June 1 to June 20
1 Holders of rec. Junel9a
1 Holders of rec. June2la
15 Holders of rec. June la
31 Holders of rec. June29(14
1 Holders of rec. Junel5a
1 June 15 to June 18
1 Holders of rec. June 15
1 Holders of rec. June 15
29 June 20 to June 30
15 Holders of rec. June25a
1 June 18 to July 1
1 June 18 to July 1
1 Holders of rec. June20a
1 Holders of rec. June20a
29 June 21 to Juno 30
15 June 2 to June 16
15 June 2 to June 16
29 Holders of rec. June 22
1 Holders of rec. June 20
1 Holders of rec. Junel5a
1 Holders of rec. June 15
1 Holders of rec. June 15
1 Holders of rec. June 8a
1 Holders of rec. June 8a
29 Holders of rec. June 8a
29 Holders of rec. June 8a
1 Holders of rec. Junel7a
30 Holders of rec. June 20
15 Holders of rec. May 31a
15 Holders of rec. June28a
1 -June 11 to July 1
29 lune 8 to June 12
15 May 25 to May 28
1 June 21 to June 30
15 June 1 to June 14
29 June 8 to June 11
15 Holders of rec. June 15
15 Holders of rec. July in
20 June 13 to June 20
20 June 30 to July 17
20 June 30 to July 17
1 Holders of rec. Junel5a
1 Holders of rec. Junel5a
20 May 26 to June 10
1 June 21 to June 30
15 June 1 to June 15
15 May 24 to June 6
15 Holders of rec. June 8
29 Holders of rec. May3la
29 Holders of rec. Junel4a
15 Holders of rec. July la
31 Holders of rec. AUT.. la
24 May 28 to June 5
20 June 8 to June 20
15 Holders of rec. July 5
15 Holders of rec. June 10
15 Holders of rec. June 10
1 Holders of rec. Junel4a
1 Holders of rec. Junel5a
15 May 31 to June 16
1 Holders of rec. Junel5a
1 Holders of rec. Junel5a
1 Holders of rec. June 15
15 Holders of rec May3la
20 May 21 to June 20
15 Holders of rec. hfay20a
15 Holders of rec. May3la
1 Holders of rec. June22a
1 Holders of rec. June 8
29 Holders of rec. Junel4a
1 Holders of rec. June20a
1 Holders of rec. June20a
15 Holders of rec. June30a
1 June 19 to June 30
10 Holders of rec. June 20
29 June 2 to June 9
29 June 8 to Juno 11
10 June 29 to July 10
10 June 30 to July 10
10 June 30 to July 10
10 June 30 to July 10
1 Holders of rec. June 15
1 Holders of rec. June 15
15 Holders of rec. June la
20 June 15 to June 30
29 Holders of rec. June29a
29 Holders of rec. June29a
0 Less amount tax. a Correction.
a Transfer boolot not Closed for this Ole (lend
es On account of accumulated dividends h DM( ends, 134% each, declared payable Sent. 30 and Dee. 31 1919. 1 Payable in stock.
1 June 16 to July 1
1 Holders of reo. June2la
1 Holders of roe. Junel8a
1 Holders of rec. Junel la
1 Holders of rec. Junel la
1 Holders of rec. May3la
1 Holders of rec. June 15
I Holders of rec. Junel5a
29 June 22 to June 29
15 June 1 to June 9
1 June 20 to June 28
1 June 20 to June 28
—Another new Canadian bond firm has recently entered
the field in Canada. namely Nesbitt, Thomson & Co., Ltd.,
with offices in the Bank of Ottawa Bldg., Montreal. Mr.
Nesbitt was one of the organizers and managing director of
the Investment Trust Co. (head office Montreal), while
Mr. Thomson was formerly the London, England, manager
of the same company. The new firm will specialize in
Canadian municipal and corporation bonds.
THE C ET ONICLE
JUNE 8 1912,1
Auction Sales.—Among other securities, the following, not
usually dealt in at the Stock Exchange, were recently sold at
auction in New York, Boston and Philadelphia:
By Messrs. Adrian H. Muller & Sons, New York:
Per cent.
Per cent. Shares.
Shares.
3 Niagara Fire Insurance Co__330
275
100 Garfield National Bank
25 Christopher & 10th St. RR.Co_137%
10 United Nat. Bk. of Troy, N.Y.280
8 National Nassau Bank
202
3 R. M. Sutton Co. of Baltimore,
25 Gold & Stock Telegraph Co__ __121 H
91
first preferred
11 Grinnell Mfg.Corp.,NewBedford188
Bonds.
Per share.
56 Morse Twist Drill & Mach. Co.,
New Bedford,$50 ea. _$203 per sh 19,000 Orange Distilled Water Ice
Co. 1st 5s, 1920
823%
• 36 Acushnet Mill Corp.,New Bedf..1551i
By Messrs. Francis Henshaw & Co., Boston:
Shares.
5 Massachusetts Mills in Ga
2 Hamilton Woolen Mills
$ per oh.!Shares.
$ per oh.
983% 1 Fitchburg Gas & Electric Light
95
Co. rights
10
By Messrs. R. L. Day & Co., Boston:
$ per sh.
Shares.
it 2 Merchants Nat. Bunk, Dos_ _219-100
Georgia_
93%
in
Mills
Massachusetts
L6
70
1 2 Middlesex Co., common
95
:20 Continental Mills
86-863%
i 50 Hamilton Mfg. Co
46
VA 5Merrimack Mfg. Co., corn
Chicago Real Estate Trustees,
900 & int.
$1,000 each
63
Shares.
$ per oh.
6 Rights N. H.Fire Ins. Co
123%
Bonds.
Per cent.
$11,000 Oklahoma Cent. Ry.Co.1st
5s, 1945, certificate of deposit_201g flat
$18,000 Central Oil Co. of Boston,
20 fiat
cony. 6s, 1925
$2,800 Pillsbury-Washburn Flour
Mills, Ltd., 5s 1928
703%-711i
By Messrs. Barnes & Lofland, Philadelphia:
$ per oh.
418
16
r 1 Delaware Ins. Co., par 310_
i 12 Phila. Bourse, coin., par $50.33%-33
%
liz4 Phila. Bourse, pref., par $25_ _ 03%
46 Fire Assa.of Plilia.,Par 350..3573-360
...,4 Chelsea Nat. Bk., Atlantic City285
3 Central Tr. & Say. Co., par $50. 75
0 German-Comm. Accident Co.,
par 10
5
7
1.66 Phila. Grain Elevator Co
650
0.9 Penn. Co. for Insur., &c
4543%
30 Central National Bank
10 Miners Nat. Bank, Pottsville,
L).
par 850
1003%
K
,2 Northwestern National Bank 386
8 Tenth National Bank
1173%
' 60 Commercial Trust Co
4403%-444
(50 Excelsior T.& s.I.'.Co., par $50. 55
6 Fidelity Trust Co
1100
3 Girard Trust Co
9903%
45 Real Estate Trust Co., pref.__ - 9514
3
10 Rittenhouse Tr. Co., par $50._ 54%
_129
Trust
Co_
4 West Philadelphia
' 10 People's Nat. Fire Ins. Co., par
25
EA
325
Shares.
DO Girard National Bank
i1i
V.
Shares.
$ per oh.
9 Second & Third Sts. Pass. Ry_ _2473%
457
1 John B. Stetson, common
5 Amer.Pipe & Construe. Co__ _ _ 88
194
4 American Dredging Co
9 Loan Soc. of Phila., par $10— 53%
30 Nevada-Utah M. & S. Corp.
Lot
'36.00
par 810=
100 N. S. Cobalt Mg. Co., Ltd.
'$1.00
Lot
par SI
200 Montg.Shoshone Cons. Mg.Co.,
Lot $1.00
Par 85
7 Farmers & Mechanics Nat..145
Per cent.
Bands.
$15,000 Atlantic Portland Cenemt
Co. 1st 6s (certif. of deposit)_ _Lot $900
65
31,000 United Lead Co. 5s, 1943 _
82,000 Leh. Val. Trans. Co.5s, 1960 00
$1.000 Phila. & Easton Elec. Ry.
Co. 5s, 1027
353%
$2,400 Springfield Water Co. 5s,
1926
993%-100
81,000 N. Spring. Wat.Co.5s.1928.100
$5.000 Schuylkill Elec. RY.Co. 1st
6s, 1925
100
1547
DETAILED RETURNS OF TRUST COMPANIES,
Trust Cos.
003 omitted.
N et
On Dep.
Surplus. Loans. Specie. Legato. withe.H. Deposits. Reserve.
Average. Average. Average. Banks. Average.
Brooklyn _ _ _
Bankers
U.S. H. & Tr_
Astor
Title Gu.& Tr_
Guaranty
Fidelity
LawyersT.L&T
Columbia
Standard _ _ _
People's
New York__ _ _
Franklin
Lincoln
Metropolitan_ _
Broadway
2,426,2 18,635,0 1,814,0
453,0 3,580,0 13,334,0 17.0+21.0
14,376,4 155,108,0 17,820,0
75,0 15,107,0 119,157.0 15.0+11.2
439,0 4,887,0 30,391,0 15.0+13.6
4,564,5 47,704,0 4,125,0
1,220,5 19,924,0 2,422,0
28, 2,0130 16,275,0 15.0+10.0
11,870,4 36,203,0 1,807,0 1,623, 2,585,0 22,800,0 15.0+10.0
23,064,5 174,332,0 16,700,0 1,314, 17,484,0 119,981.0 15.0+12.7
769,0 5,952,0 15.1+10.3
1,278,0 7,685,0
235,0
667,0
6,204,6 20,030,0 1,471,0
981, 1,816,0 15,668,0 15.6+10.3
1,950,0 20,589,0 1,788,0
80, 1,354, 12,270,0 15.2+ 10.0
1,823,0 15,257,0 15.4+10.6
1.377,9 16,666,0 2,342,0
21
1,725,7 17,630,0 1,840,0
517, 1,923,0 15,800,0 15.0+10.5
11,631,3 47,560,0 4,826,0
166,0 3,715, 32,772,0 15.2+10.1
1,316,4 10,834,0 1,048,0
8,858,0 15.7+10.1
349, 1,024
557,5 11,628,0 1,440,0
211,0 1,172, 11,042,0 15.0+ '9.5
6,147,8 26,086,0 2,755,0
14,0 2,452, 18,466,0 15.0+11.7
559,9 8,829,0
988,0
8,767,0 15.2+10.6
353, 1,053,
Totals, Avge__ 90,271,6 639,443,0 63,863,0 6,859,
166,796,0 15.1+11.8
Actual figures June 1_ 633,537,0 63,904,0 6,897.0162,340.01461,191,0 15.3+11.9
The capital of the trust compan es is as follows: Brooklyn, $1,000.000; Bankers,
$10,000,000; United States Mortgage & Trust, $2,000,000; Astor, $1,250,000; Title
Guarantee & Trust, $4,375,000; Guaranty, $5,000,000; Fidelity, 81,000,000:
Lawyers'.Title Insurance & Trust, 54,000,000; Columbia, $1,000,000; Standard.
$1,000,000: People's, $1,000,000; New York, $3,000,000; Franklin, $1,000,000;
Lincoln, 81,000,000; Metropolitan, $2,000,000; Broadway, $1,000,000; total.
$39,625,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Week
ending
June 1.
Capital. Surplus.
Loans.
Specie.
On Dep.
Legal
th C.H.
Net
Tenders. Banks. Deposits
Averages.
$
$
$
$
$
$
$
Banks
_ 131,150, 195,115,7 1,371,537,0 305,206,0 77,560,1
1,421,068,0
Trust cos_ 39,625, 90,271,6 639,443,6 63,853,0 6,859
62,757,0 466,796,0
Total _ _ 170,775, 285,387,32.010,980,0 369,059,0 84,419,1 62,757,0 1,887,864,0
Actual.
1,382,889,0304,240,0 77,971,
Banks
1,433,309,0
633,537,0 63,904,0 6,897,1 62,340,0 461,191,0
Trust cos
Total _
2,016,426,0:368,144,0 84,868,6 62,340,01,894.500,0
The State Banking Department also furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
$ per oh. Bonds.
Per cent. in the whole State, but the figures are compiled so as to
Shares.
$1,000 N. Spring. Water 5s, 1928_ A00
2 Bergner & Engel Brew. Co., pf_ 98
distinguish between the results for New York City (Greater
104
$1,000 Springfield Water 5s, 1926_ .100
25 General Refractories Co
New York) and those for the rest of the State, as per the
33 Insur. Co. of North America.- - 2154
following.
For definitions and rules under which the various items
Statement of New York City Clearing-House Banks and are made up, see "Chronicle," V. 86, p. 316.
Trust Companies.—The detailed statement below shows the
STATE BANKS AND TRUST COMPANIES.
condition of the New York City Clearing-House members
e figures for the separate
for the week ending June 1.
Trust Cos.
State Banks
Trust Cos.
State Banks
banks are the averages of the daily results. In the case of
outside of
outside of
in
in
Week ended June 1.
the totals, actual figures at the end of the week are also given.
Greater N. Y Greater N. Y. Greater N. V. Greater N. Y
• For definitions and rules under which the various items are
$
$
$
$
made up, see "Chronicle," V. 85, p. 836, in the case of the
8,975,000
banks, and V. 92, p. 1607, in the case of the trust companies. Capital as of Mch. 21_ _ 22,387,400 60,306,000 9,605,100
By Messrs. Samuel T. Freeman & Co., Philadelphia:
Surplus as of Itch. 2E_
DETAILED RETURNS OF BANKS.
We omit two ciphers (00) in all cases.
Banks.
003 omitted.
Bank of N. Y_
Manhattan Co.
Merchants'._
Mech.& Metals
America
City
Chemical
Merchants' Ex
Butch. & Drov
• Greenwich
Amer. Bluth—
Commerce_ _
Pacific
Chat. & Phen_
People's
Hanover
Citizens' Cent _
Nassau
Market & Fult
Metropolitan .
Corn Exchange
Imp.8z Traders
Park
East River—
Fourth
Second
First
Irving Exch_
Bowery
N. Y. County _
German-Amer.
Chase
Fifth Avenue_
German Exch.
Germania _ _
Lincoln
Garfield
Fifth
_
Metropolis
West Side— _
Seaboard.....
Liberty
N.Y. Prod. Ex
State
Security
Coal & Iron_.Union Exch—
Nassau, Bkiyn
Capital. Surplus.
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
25,000,0
3,000,0
600,0
300,0
500,0
5,000,0
25,000,0
500,0
2,250,0
200,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
250,0
5,000,0
1,000,0
10,000,0
2,000,
250,0
500,0
750,0
5,000,0
100,0
200,0
200.0
1,000,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
3,775,4
4,765,3
1,984,7
8,584,8
6,214,6
28,390,5
7,082,0
520,7
125,7
929,0
4,748,5
15,770,2
952,9
1,201,5
461,6
13,302,0
1,991,6
451,9
1,830,5
1,665,6
5,559,4
7,679,4
13,036,0
70,0
5,762,1
2,419,5
21,236,0
2,052,8
803,1
1,711,
709,2
9,017,3
2,205,0
834.1
1,057,2
1,700,5
1,252,3
516,0
2,156,1
1,011.1
2,139,7
2,658.8
861,1
867,1
457,6
488,4
977,8
1,094,2
Loans and investments_
Change from last week_
Loans.
Average.
Specie. Legato. Vet Depos- ReAverage. A verage. its, Aver. serve.
21,653,0
33,100,0
20,015,0
57,171,0
26,604,0
184,507,0
28,707,0
6,843,0
2,149,0
8,781,0
45,285,0
141,231,0
4,208,0
17,981,0
1,882,0
74,857,0
22,766,0
10,561,0
9,505,0
11,721,0
49,030,0
25,568,0
86,996,0
1,434,0
33,364,0
13,792,0
116,563,0
31,827,0
3,609,0
8,496.0
4,319,0
90,264,0
13,334,0
3,350,0
5,399,0
14,960,0
9,333,0
3,425,0
12,513,0
4,452,0
23.563,0
22,718,0
9,501,0
16.101,0
11,257,0
5,922,
10,187,0
7,634,0
4,21:3,0
8,905,0
3,013,0
11,603,0
4,763,0
54,634,0
4,757,0
1,656,0
541,0
2,337,0
9,910,0
20,855,0
381,0
2,972,0
402,0
16,146,0
5,070,0
2,579,0
1,627,0
2,755,0
8,573.0
3,313,0
20,202,0
391,0
6,267,0
3,246,0
30,112,0
7,581,0
832,0
1,337,0
829,0
23,066,0
2,769,0
525,0
1,346,0
2,927,0
2,366,0
307,0
1,233,0
960,0
4,987,0
6,990,0
2,605,0
5,027,0
2,729,0
1,049,0
2,257,0
1,361,0
769,0
1,507,0
1,298,0
2,086,0
1,883,0
8,630,0
2,118,0
153.0
65,0
180,0
1,717,0
8,958,0
655,0
1,659.0
152,0
5,451.0
624,0
1,174,0
1,036,0
257.0
5,900,1
2,292,0
2,136.0
123,0
1,900.1
169.0
2,665,0
3,004,0
54,0
668,0
227,0
6,392,0
1,094,0
357,0
254,0
920.0
255,0
534,0
1,922,0
268,0
2,146,0
1,052,0
335,0
358,0
1,145,0
396,0
360,0
262,0
19,616,0
38,450,0
20,248,0
55,349,0
26,574.0
197,183.0
26,035,0
7.040,0
2,296,0
10,016,0
45,763,0
117,240,0
3,921,0
18,395.0
2,107,0
8:1,717,0
21,901,0
12,726,0
9,753,0
11.893,0
56,894,0
22,601.0
90,376.0
1,800,0
33,837,0
13,327,0
113,932,0
40,686,0
3,768,0
8,550,0
4,132,0
105,014,0
14,948,0
3,483,0
6,309,0
15,249,0
9,772,0
3,402,0
12,495,0
5,001,0
27,513,0
26,589,0
11,423,0
21,556.0
15,258,0
5,891,0
10,482,0
6,546,0
25.3
27.0
25.7
24.7
25.0
32.0
26.4
25.6
26.3
25.0
25.4
25.4
26.4
25.1
26.2
25.7
25.9
29.5
27.2
25.3
25.4
24.8
24.7
28.5
24.1
25.6
28.7
26.0
23.5
23.4
25.5
28.0
25.8
25.3
25.3
25.2
26.8
24.7
25.2
24.5
25.9
30.2
25.7
25.0
25.3
24.5
25.0
24.7
Totals, Avge__ 131,150,0 195,115,7 1371.537,0 105,206,0 77,560.0 1421,068,0 26.9
Actual figures June I
1382,889,0 104,240,0 77,971,0 1433,309,0 26.6
Circulation.—On the basis of averages, circulation of national banks in the Clearing
House amounted to $47,159,000, and • according to actual figures were $47,159,000.
171,337,281
12,085,744
11,534,908
294,330,000 1,208,199,700
+1,777,300 —5,665,300
103,983,100
+119,300
165,510,000
—75,000
347,507,600 1,318,546,400
+361,800
+3,900
112,502,300
—262,100
173,916,700
+117,700
143,921,600
—3,423,840
22,127,900
+43,900
24,518,900
—55,700
16.3%
13.5%
20.9%
20.8%
15.2%
15.2%
38,732,700
Specie
Change from last week_
52,796,700
+247,600
125,732,800
—2,042,400
Legal-tenders & bk. notes
Change from last week_
23,432,100
—662,500
11,440,000
+14,900
Deposits
ChangeIrom last week_
Reserve on deposits
Change from last week_
97,841,400
—147,400
P. C. reserve to deposits_
Percentage last week
29.1% .
29.2%
-I- Increase over last week. — Decrease from last week.
Note.—"Surplus" Includes all undivided profits. "Reserve on deposits" Includes
for both trust companies and State banks, not only cash items but amounts due
from reserve agents. Trust companies in New YorK mate are requned by law to
keep a reserve proportionate to their deposits, the ratio varying according to location as shown below. The percentage of reserve required is computed on the
aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within thirty days,
represented by certificates, and also exclusive of deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations of the State or City
of New York owned by the bank or held in trust for It by any public department.
The State banks are likewise required to keep a reserve varying According to location, the reserve being computed on the whole amount of deposits exclusive of time
deposits not payable within thirty days, represented by certificates (according
to the amendment of 1910), and exclusive of deposits secured (according to amendment of 1911) by bonds or obligations of the City or State of New York, and exclusive of an amount equal to the market value (not exceeding par) of bonds or
obligations of the State or City of New York owned by the company or held in trust
for it by any public department.
—Trust Cos.— —State Banks—
Total
Of
7'otal
Of
Reserve Required for Trust Companies
Reserve which Reserve
which
and State Banks.
Required.in Cash.Required. in Cash.
Location—
15%
15%
25%
15%
Manhattan Borough
10%
20%
10%
Brooklyn Borough (without branches in Manhat.) 15%
15%
10%
7/4%
Other Boroughs(without branches in Manhattan) 15%
20%
20%
15%
Brooklyn Borough, with branches in Manhattan_ _15%
15%
15%
15%
Other Boroughs, with branches in Manhattan_ _ __15%
5%
10%
Cities of the first and second class
10%
3%
Cities of the third class and villages
Elsewhere in State
The Banking Department also undertakes to present separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as ate
also the results (both actual and average) for the Clearing-
Lxxxxiv.
THE CHRONICLE
1548
Boston and Philadelphia Clearing-House Members.-BeHouse banks and trust companies. In addition, we have
combined each corresponding item in the two statements, low is a summary of the weekly totals of the Clearing-House
thus affording an aggregate for the whole of the banks and institutions of Boston and Philadelphia:
We omit two ciphers (00) in all thesefigures.
trust companies in the Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES
Clear:House Clear -House State Banks & Total of all
Members. 7'rust Coo. Not Banks &Trust
Members.
Week ended June 1AaualFtgures
Average. in C.-H. Aver. Cos. Average.
rNat. Banks)
April 18 and
State Banks I
Surplus tMarch 21__ _
Capital
170,775,000
170,775,000
27,618,400
198,393,400
285,387,300
285,387,300
88,258.381
373,645,681
Loans and investments 2,016,426,000 9,010,980,000
-767.000 -3,932,000
Change from last week
644,569,300 2,655,549,300
-2,421,800 -6,353,800
1,894,500,000 1,887.864,000
Deposits
Change from last week +1,635,000 -3,173,000
a651,537,500 2,539,401,500
-2,512,700 -5,685,700
Specie
Change from last week
368,144,000
-682,000
369.059,000
+3,470,000
67,700,200
+1,600
436,759,200
-F3,471,600
Legal-tenders
Change from last week
84,868,000
+1,513,000
84,419,000
+972,000
b11,445,300
-152,600
05,864,300
4-819,400
Banks: cash in vault_ _
Ratio to deposits
382,211,000
26.66%
382,766.000
26.93%
12,691,100
14.04%
395,457,100
Trustcos.; cash la vault
70,801,000
70,712,000
66,454,400
137,168,400
Aggr'te money holdings
Change from last week
453,012,000
+831,000
453,478,000
+4,442,000
79,145,500
-151,000
532,623,500
+4,291,000
Money on deposit with
other bks. dz trust cos.
Change from last week
62,310,000
+1,783,006
62,757,000
+3.984,000
19,159,900
-885,200
81,916,900
+3,098,800
Total reserve
Change from last week
515,352.000
+2,614,000
516,235,000
+8,426,000
98,305,400
-1,036,200
614,540,400
+7,389,800
Surplus CASH reserve
Banks (above 25%)_ _
Trust cos.above15%)
23,883,750
1,622,350
27,499,000
692,600
Total
Change from last week
25,506,100
-950,050
28,191,600
+4,380,050
%of cash reserves of trust Cos-15.35%
Cash in vault
11.90%
Cash on dep. with bits.
27.25%
Total
Capital
and
Loans.
Surplus.
Banks.
Boston.
Apr, 13
Apr. 20
Apr. 27
May 4
May 11
May 18
May 25
June 1
Philadelphia.
Apr. 13.
Apr. 20.
Apr. 27
May 4
May 11
May 18
May 25
June 1
$
$
41,575,0 223,761,0 25,029,0 3,998,0 265,259,0
41,575,0 224,164,0 24,781,0 4,335,0 270,845,0
41,575,0 224,672,0 25,50-1,0 4,291,0 270,5136,0
41,575,0 224,248,0 25,994,0 1,203,0 268,810,0
41.575,0 225,273,0 26,693,0 1,234,0 266,357,0
41,575,0 227,823,0 26,797.0 1,160,0 270,708,0
41,575,0 223,271,0 27.365.0 1,211,0 263,636,0
41,575,0 224,818,0 24,781,0 1,422,0 262,539,0
Imports and Exports for the Week.-The following are
the imports at New York for the week ending June 1; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
1912.
For week.
16.34%
+ Increase over last week. -Decrease from last week.
a These are the deposits after eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City"; with this Item included,
deposits amounted to $731,100,300. an increase of $628,700 over last week. In
the case of the Clearing-House members, the deposits are "legal net deposits" both
for the average and the actual figures. b Includes bank notes.
1911.
81,910.208
16,338,660
1909
1910.
31,932,106
11,250,233
$2,186,576
13,079,428
82,764,872
14,932,458
$18,248,868 $13,182,330 515,266,001 $17,697,330
862,200,891 861,721,680 570,110,517 $74,510,801
373,382,913 310,989,685 342,096,669 300,419,508
3435,583,804 8372,711.365 $412,207,186 $374,930,107
Total 22 weeks
26.99%
8,044,0 179,925,9
8,044,0 182,164,8
8,032,0 187,389.2
8,146,0 174,8138,1
8,287,0 159,721,9
8,296,0 177,628,9
8,290,0 154,346,8
8,266,0 129,127.2
a Includes Government deposits and the item "due to other banks." At Boston
Government deposits amounted to $787,000 on June 1, against $788,000 on May 26.
t "Deposits" now Include the item of "Exchanges for Clearing House," which was
not previously embraced in the total. "Exchanges for Clearing House" were reported on June 1 as $16,833,000.
Total
Since January 1
Dry goods
General merchandise
15.54%
0.80%
Clearings
431,057,0 15,102,0 164,826,3
99,849,0
433,781,0 15,083,0 158,382,1
102,138,0
431,093,0 15,074,0 147,051,2
101,634,0
433,251.0 15,053,0 180,648,8
101,968,0
100,662,0
4:32,167,0 15,066,0 142,308.9
102,904,0 f 145,524,0 15,062,0 155,070,7
99,197.0 f 437,376,0 15,088,0 140,108,6
96,558,0 t 439,365,0 15,077,0 132,611,8
80.623,2 388,787,0
80,623,2 387,884.0
80,623.2 388,707,0
80,623.2 389,800,0
80,623,2 391,639,0
80,623,2 390,943.0
80,623,2 390,678.0
80,623,2 391,429,0
Dry goods
General merchandise
15.14%
11.85%
Specie. Legato. Deposits. Circua
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending June 1 and from Jan. 1 to date:
EXPORTS FROM NEW YORK.
1910.
1911.
1912.
1909.
$12,367,087 $12,505,598 813,620,578 58,407,457
353,632,646 318,005,327 264,269,003 257,680,820
For the week
Previously reported
Total 22 weeks
$365,999,733 $331,500,925 3277,889,581 $266,088,277
The averages of the New York City Clearing-House banks
and trust companies, combined with those for the State banks
and trust companies in Greater New York outside of the
The following table shows the exports and imports of
Clearing House, compare as follows for a series of weeks past: specie at the port of New York for the week ending June 1
and since Jan. 1 1912, and for the corresponding periods in
COMBINED RESULT.) OF BANKS AND TRUST COMPANIES IN
1911 and 1910:
GREATER NEW YORK.
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
We omit two ciphers in all thesefigures.
Imports.
Exports.
Week
Ended.
Mob.
Apr.
Apr.
Apr.
Apr.
May
May
May
May
June
30..
6.,
13..
20__
27_,
4._
11._
18._
25._
1__
Loans and
Investments.
2,650,810,6
2,661,514,8
2,646,312,4
2,628,377,1
2,625,045,4
2,643,058,7
2,662,368,9
2,659,189.8
2.661,903,1
2,655,549,3
Deposits.
2,507,172.7
2,506.033,3
2.489,720,4
2.482,583,9
2,477,238,3
2,497,676,4
2,518.682,7
2,532.210.3
2,545,082,2
2530,401,5
Specie.
417,151,9
408.260,1
410,412,2
416,442,1
416,955,2
417,00,1,3
417,890,5
42:3,710,1
433,287,6
436,759,2
8
95,293,3
92,914,6
94,300,4
94,945,3
95,2811,9
95,954,6
96,262,0
96,065,3
95,044,9
95,864,3
512,445,2
501,174,7
504,712,6
611,387,4
512,245,1
512,963,9
514,152,5
519.775,4
528,332,5
532,623,5
591,973.0
580,074,9
582,181,0
592,817,9
593,657,8
596,187,4
598,196,1
599,417,2
607,150,6
614,540,4
Reports of Clearing Non-Member Banks.-The following is
the statement of condition of the clearing non-member banks
for the week ending June 1, based on average daily results:
We omi two ciphers(00)in all thesefigures
Banks.
Capitat.
Surplus.
On
Loans,
Legal
Tender Deposit
Disc'ts
with
Specie, and
and
Net
InvestBank C.-II. Deposits.
atent9.
Notes. Banks.
-
New York City.
$
Manhattan and Bronx.
$
$
525,6 2,868,0
500,0
Aetna National
318,0 1,519,0
Washington Heights_ 100,0
111,4 1,423,0
200,0
Battery Park Nat
514,5 5,345,0
Century
500,0
400,0
501,5 6,368,0
Colonial
799,0 6,797,0
300,0
Columbia
171,1 1,044,0
200,0
Fidelity
250,0
340.7 2,656,0
Mount Morris
200,0
402,4 4,323.0
Mutual
200,0
286,8 2,918,0
New Netherland
72,3 1,891,0
200,0
Twenty-third Ward
507,3 4,274,0
100,0
Yorkville
Brooklyn.
200,0
544,0 3,275,0
Broadway
662.8 3,576,0
First National
300,0
Manufacturers' Nat
871,4 5,999,0
252,0
Mechanics'
1,000,0
862,0 11,119,0
300,0
575,2 3,934,0
National City
200,0
169,0 2,313.0
North Side
Jersey City.
400,0 1.319,6 4,993,0
First National
250,0
784,4 3,315,0
Hudson County Nat
200,0
422,0 1,864,0
Third National
Hoboken.
220,0
640,5 3,796,0
First National
288,6 3,098,0
125,0
Second National
Totals Tune 1
Totals May 25
Totals May 18
$
$
$
521,0
63,0
76,0
152,0
75,0
174,0
47,0
318,0
133,0
30,0 1,090,0 1,070,0
924,0 400,0
809,0
845,0
657,0 568,0
267,0
49,0 119,0
49,0
335,0
452,0
814,0
499,0 343,0
324,0 108,0
166,0
93,0
232,0
247,0
69,0 757,0
700,0
$
2,434,0
1,277,0
1,663,0
5,435,0
6,803,0
7,748,0
093,0
2,982,0
4,684,0
2,693,0
2,053,0
4,766,0
400,0 130,0
374,0 3,224,0
269,0 111,0
435,0 2,712,0
410,0 412,0
638,0 5,453,0
233,0 1,782,0 1,782,0 13,041,0
506,0 135,0
693,0 3,953,0
193,0 105,0
215,0 2,321,0
299,0
184,0
115,0
184,0
181.0
Gold
Tot. Money Entire Res.
Holdings, on Deposit.
Legals.
320,0 2,150,0
87.0
630,0
132,0
447,0
33,0
39,0
428,0
195,0
Week,
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Week.
Since Jan.1
$5,164
439,382
312,030,487
15
$100
675,575
500
Total 1912
Total 1911
Total 1910
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$270
220,516
30,232
44,734
8,799,327
50,383
118,706
8,459,344
1,128,408
754.573
$606 321,555,787
264,725 2,595,656
226,600 4-1,155,263
$295,752 $8,905,578
806,479 5,241,024
117,330 5,503,564
$981,253 318,296,389
61,211 2,959,611
$3,329
2,838
15,335
13,298
2,532,856
1,815,543
612,910
4,000
61,308
$178
25,349
672,236
36,801
53,303
$1,040,404 $22,014,893
70:3,342 20,562,492
033,525 18,265,002
Total 1912
Total 1911
Total 1910
Since Jan.1
390,282 34,795,9013
14,356 3,891,180
183,801 1,728,181
Of the above imports for the week in 1912, $270 were
American gold coin and $178 American silver coin.
Manktng and financtaL
Railroad and Industrial Stocks
Write for our Circular No. 614 entitled "Railroad and Industrial
Stocks," which describes 128 Issues listed on the New York Stook
Exchange, and classified by us as follows: Investment Stocks, SorelInvestment Stocks, Speculative Stocks.
Spencer Trask & Co.
43 EXCHANGE PLACE-NEW YORK.
Chicago, III, Boston, Mass. Albany, N. Y.
Members
New
York Stock Exchange.
4,114,0
1,530,0
1,445,0
White, Weld & Co.
1,527,0
1,261,0
6,797,0 11,691,3 88,708,0 7,201,0 6,998,0 13,623,0 84,112,0
6,797,0 11,691,3 48,388,0 7,320,0 7,366,0 13,202,0 841780,,
6,797,0 11,691,3 89,413,0 7,394,0 7,170,0 12,535,0 85,180,0
Bonds and Investment Securities.
14 WALL STREET
THE ROOKERY
35 CONGRESS STREET
NEW YORK
CHIC AGO
BOSTON
at 114% and $1,000 4s coup. at 114%. The following are
the daily closing quotations; for yearly range see third page
following:
Xiautterff
Wall Street, Friday Night, June 7 1912.
The Money Market and Financial Situation.-The volume
of business at the Stock Exchange has steadily increased
throughout the week, but has scarcely reached average
the
proportions. The market has, however, reversing
considera
and
strong,
persistently
been
week,
last
of
trend
industrial
able list of active stocks, including both railway and
points.
6
to
3
from
advanced
has
issues,
There undoubtedly is good ground for a more optimistic
subfeeling in business circles than recently existed. atA rest,
puts
yesterday
Southwest
the
in
rainfall
stantial
to crops
for the moment at least, rumors of serious damageiron
and
of
reports
weekly
usual
the
and
section
that
in
good
steel trade conditions, which are now studied with aorders
deal of interest, show that the output and unfilled
are steadily increasing. The latter, it is said, were 100,000
tons greater on June 1st than on May 1st. It is well known
that the U. S. Steel Corporation is planning to increase its
capacity for production at several points, and Steel shares
advanced at the Stock Exchange this wee nearly 5 points.
The demand for copper metal is also increasing and the
price has this week reached 17% cents, the highest since the
great break during the panic year of 1907.
The open market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals has rarvd
call were 2M@2%Vo•
from 2% el3%. To-day rates on 4%
4
for 60 to 90-day
Commercial paper quoted at 38/
endorsements and for prime 4 to 6 months' single names
and 4%% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of 41,324,663 and the percentage of reserve to liabilities was 48.44, against 46.76 last week.
The rate of discount remains unchanged at 3% as fixed
10,850,000
May 9. The Bank of France shows a decrease of '
francs gold and an increase of 3,875,000 francs silver.
Interest
Periods
registered Q-Jan
2s, 1930
Cot111011 Q-Jan
2s, 1930
registered 14-Feb
3s, 1908-18
coupon Q-Feb
3s, 1908-18
registered 14-Feb
4s, 1925
coupon Q-Feb
4s, 1925
2s, 1936_Pantuna Canal regls (1-Feb
Is, 1961.Panama Canal coup
1912.
Averages for
week ending
June 1.
Differences
from
previous week.
.1911.
Averages for
week ending
June 3.
June
1
June
3
June
4
June
5
June
6
June
7
*10034 *100% .100% *10034 .10034 *100%
.100% *100% .100% .100h .100h *100%
.10234 *102% .1024 .1024 *1024 *102%
*10234 *10234 *1024 .10234 .10234 *102%
1144 *114%
*114 *114 .114 .114
.1144 .1144 q1434 *1144 11434 *114%
.1004 .10034 .100% .100% .1004 *100%
*101% 101% .101% .101% *101% *101%
*This is the price bid at the morning board no sale was made.
Railroad and Miscellaneous Stocks.-As noted above,the
stock market has been decidedly strong and several issues
have made a somewhat sensational advance.• There was
practically no change in the general trend of prices until
to-day and in almost every case quotations advanced day
by day. To-day's market was irregular in spots. Nearly
all the railway issues closed fractionally lower than yesterday,
but some industrial stocks, notably the Tobaccos made
sensational advances.
As a result of the week's operations every active stock
except Canadian Pacific is higher than last week and nearly
all are up from 2 to 6 points. Reading shows a net gain of
53, Lehigh Valley 4%, Union Pacific 4, Atherican Tobacco
22%, Liggett & Myers 12, Beet Sugar 5%,Sears Roebuck 6,
8, Amalgamated Copper
/
New York Air Brake 133
3.
Smelting & Refining 43/i and Harvester 4%
For daily volume of business see page 1557.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow: •
NEW YORK CITY CLEARING-HOUSE BANKS.
(Not including Trust Companies.)
1910.
Averages for
week ending
June 4.
$
$
$
$
134,150,000 130,350,000
131,150,000
Capital
200,234,400 185,325,000
195,115,700
Surplus
867.000 1.345,623,700 1,196,572,400
Loans and discounts..__ 1.371,537,000 Dec.
47,992,400
45,830,600
80,000
47,159,000 Dec.
Circulation
1,395,827,400 1,187,149,500
5,289.000
Inc.
1,421,068,000
Net deposits
249,434,300
311,220,200
6,749,000
Inc.
305,206,000
Specie
67,013,000
74,986,000
77,560,000 Inc. 1,018,000
Legal-tenders
382,766,000 Inc. 6,767,000 386,206,200 317,347,300
Reserve held
355,267,000 Inc. 1,322,250 348,956,850 296,787,375
25% of deposits
20,559,925
37,249,350
27,499,000 Inc. 5,444,750
Surplus reserve
actual
Note.-The Clearing House now ISM'S ft statement weekly show ng the
The
condition of the banks on Saturday morning as well as the above averages. also
figures, together with the returns of the separate banks and trust companies,
of
condition
the
giving
Banking
State
Department
the
by
issued
the summary
appear on
State banks and trust companies not reporting to the Clearing House,
preceding.
page
the second
Foreign Exchange.-The market for sterling exchange
ruled irregular during the week, influenced to some extent
by speculative operations.
exchange were 4 85 for
sterling
To-day's (Friday's) nominal rates for
actual rates for sterling exchange
60-day and 4 88 for sight. To-day's
for cheques and 4 873533
were 4 8450Q4 8460 for 60 days, 4 8705Q4 8710
4Q4 84 34 anti documents
4 8740 for cables. Commercial on banks 4 88
8434 and grain
for payment 4 83 34Q4 84 34. Cotton for payment 4 84@4
for payment 4 84% Q4 84 34.
house, were
representative
by
a
quoted
as
for
sterling,
The posted rates
4 88 for sight.
not changed during the week from 4 85 for 60 days and
were 5 20 less
francs
bankers'
for
rates
Paris
actual
(Friday's)
To-day's
less 1-16 for short.
3.32®5 20 less 1-16 for longand 5 1754 less 3,32 5 1734
and 95 5-16Q
Germany bankers' marks were 94 11-16Q94 % for long 40 33@40 35
were
bankers'
guilders
Amsterdam
short.
9534 less 1-32 for
for short.
24 qc. high
Exchange at Paris on London, 25f. 23 %c.; week's range, 251.%pr.; week's
at Berlin on London, 20m. 43
and 25f. 22 %c. low. Exchange
range, 2001. 46pf. high and 20m. 43 Iipf. low.
The range for foreign exchange for the week follows:
Cables.
Sixty Days.
Cheques.
Sterling Actual4 8745
4 8715
High for tile week_ _4 8460
8725
4
4
8440
8695
„4
week_
the
for
Low
Paris Bankers' Francs5 17% less 1-16 5 1734
High for the week_ _ _5 20 less 1-16
5 18 31 less 1-61 5 1734 less 5-64
Low for the week.._ _5 2034
Germany Bankers' Marks95 7-16 less 1-32
34
94
95 % less 1-32
weck___
the
for
High
94 %
95 5-16 less 1-32 9534 Ices 1-32
Low for the week_
Amsterdam Bankers' Guilders40 42
40 35
High for the week__ 40 15
40 39
40 33
Low for the week_ _ _ 40 12
Boston, par.
premium.
-Chicago,
per
15o.
$1,000
Exchange.
Domestic
commercial, par;
St. Louis, 25c. per $1,000 premium. New Orleans,
Savannah,
premium.
San
Francisco,
per
20c.
$1,000
premium.
$1
bank,
premium.
buying, 3-16% discount; selling, par. St. Paul, 40c. per $1,000
Montreal, par. Charleston, buying, par; selling, 1-10% premium.
State and Railroad Bonds.-Sales of State bonds at the
Board limited to $7,000 N.Y. Canal 4s 1961 at 101H to 101 •
The market for railway and industrial bonds has shown a
little more activity, due chiefly to a special interest in a few
issues. Among the latter are local tractions, Third Avenue,
New York Railways, Brooklyn Rapid Transit and also
Atchison, Wabash and the Tobacco issues. Former quotations have generally been maintained and in a few cases
noteworthy advances have been recorded. Convertible
bonds have been strong in sympathy with stocks. Rock
Island 4s and Third Ave. 5s are up 1% points, New York
Air Brake 2 points and Atchison and Wabash 1 point.
United States Bonds.-Sales of Government bonds at the
Bo ard.include $7,000 Panama 3s at 101%, $15,000 4s reg
1549
THE CHRONICLE
JUNE 8 1912.1
STOCKS.
Week ending June 7.
Sales
ler
Week.
Range for Week.
Lowest.
Highest.
Range since Jan. 1.
Lowest.
Highest.
2% May
Allis-Chat rec 1st paid__ 1,006 134 June I 24 June :) 14 May
May 6
5
May
901 5 June 6 54 June
Preferred rec 1st paid_
Ja 10834 June
201 10834 June 1 10834 June ; 102
Am Tobacco pref recta..
$134 June 7 8% Bich $234 Apr
100 8134 June
Batopilas Mining
Jun 137 June
137
3,137
June 3 137 June
Buff Koch & Pitts, pref.
June'
June 1 22234 Feb 259
2: 259
June 259
Can Pacific subs 2d paid
Jan 2434 Apr
I
17
June
18
1
101
June
18
Alton
&
Chicago
Jan
556 128 June L. 133 June 7 128 June 144
Chic St P M & Omaha
Mch 112 June
106
56 112 June 4 112 June
Col Fuel & Iron, pref.__
June 1 7434 June
74
306 74
May 7634 Jan
Col & Southern, 1st pref_
106 10c. June 7 10e. June 7 100. Ap 16e. Feb
Comstock Tunnel
3t. 67 June 1 67 June 1 6334 Jan 67 June
Detroit United
Ja 140 June
11k. 140 June 6 140 June 6 128
General Chen 1.111
June 1 10% Feb 13
May
11 13 June t. 13
Green Bay & W deb B_
155
1
Ma
June
1
177
177 June
June
177
30,
Heinle
G W
10934 May 112
Mch
1 11034 June C 11034 June
Preferred
Mch
104 78 June 1 78 June 1 77% Jan 81
KCFtS&M,pref recta_
Mc
6
3
June
May
7
934
:1
June
7
1(h
Keok & Des Moines____
Mch 3534 June
548 3234 June 4 3534 June 4. 29
Lackawanna Steel
June
June 1 4334 Feb 51
51
1,771 47 June
Long Island
May 10134 May
101
k)13.4 June
June
426 l01
M Rumeiy. pref
Feb 6134 Apr
52% June 7 54
20, 59 June
N Y Chicago & St Louis_
Feb 10034 May
201 10034 June.1 0034 June 1 99
Pacific Tel dr Tel, pref..
101 'Feb 10334 June
906 10134 June 10334 June
Pittsburgh Steel, pref__ _
RR Securities-Ills Cent
Apr
86 Jun 8
20 86 June 1 86 June
stock trust certificate*
Apr
Feb 105
151 100 June 1 10.) June 1 90
Sloss-Sheff S & I, preL
Jan
5, 105 June 1 110 June 1 105 Jun 110
So Porto Rico Sug. pref_
924 2634 June 3 2634 June( 164 Ja 2634 June
Standard Milling
Jan 6234 May
53
61
June
271 5934 June
Preferred
Jan
11 bug June 7 1424 June 7 14134 Mch 145
Twin City Rap Tr, pref
39 June 1 26
Jan 39 June
1.506 37 June
U S Indus Alcohol
Jan 04
Apr
311 102 June 102% June 7 95
Preferred
134 Meh 3% may
20t 254 June 7 244 June
US Reduction & Reg
Meh 90
Jan
30, 58 June 5 58 June 1 64
Virginia Iron Coal& Cok
Jan '0034 June
201. :00 June 5 )00% June 3 170
Weyrnan-Bruton
834
Outside Market.-A good demand for the higher-priced
industrial stoeks and the principal copper issues, the latter
being more active than for many weeks past, were the features
of the "curb" market this week. Substantial advances were
made in a number of these issues. United Cigar Stores was
a centre of interest and the sharp upward movements carried
the price from 228 to 2453, the close to-day being at 243.
Amer. Water Works & Guarantee pref., a newcomer, was
heavily traded in up from 98% to 993. and back finally to
99. British-Amer. Tobacco moved irregularly between 26%
and 273
4 and finished to-day at 273/s. B. F. Goodrich
coin, sank from 833j to 813. and recovered to 823-f. The
4 and 108%. Havana Topreferred ranged between 1083
4. Lehigh
bacco corn. was traded in to-day up from 5% to 73
Valley Coal Sales, after fluctuating between 240 and 243,
jumped to 250, reacting subsequently to 248. Loose-Wiles
4 and recovered to 373..
Biscuit corn. lost a point to 363
MacAndrews & Forbes receded a point to 174, sold up to
177 and to-day to 185. Porto Rico-Amer. Tobacco, after
an improvement from 245 to 272, was traded in to-day up to
283. R. J. Reynolds ran up from 230 to 237. Standard
Oil of N. J. was off from 380 to 377%,but transactions to-day
were up to 384, with the close at 382. Standard Oil of N. Y.,
sales of which are rarely reported, was conspicuous for a rise
of 27 points to 437, though it subsequently reacted to 427.
The bond department was quiet. Braden Copper 6s
moved up from 140 to 147 and down to 1453'. The 'ls were
traded in at 148. N. Y. State new 4s receded from 1003 to
1003 and ended the week at 100%. The strength and activity of Braden Copper and British Columbia Copper were
the chief features of the group, the former advancing from
6% to 73, a new high record. The close to-day was at 7.
The executive committee of the British Columbia Copper
Co. has recommended the resumption of dividends, and the
stock rose almost a point to 63/8, the final figure to-day being
6. Greene Cananea advanced from 974 to 10% and ends the
week at 103(.
Outside quotations will be found on page 1557.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
•
OCCUPYING TWO PAGES
For record of stale, during the week ol stocka usually ins
,
tive. se* oreeedin*
STOCKS-HIGH MST AND LoW EST SALE PRICES.
Saturday
June 1
Monday
June 3
Tuesday
June 4
IV eanesaay
June 5
75ursdaY
June 6.
Friday
June 7.
sates of
ate
Weelt
Shares.
STOCKS
NEW YORK STOOK
EXCHANGE
Range since Januar!, 1.
On basis 31 100-share tots
Lowest.
Hlohest.
Range for Previout
Yea, 1011.
Lowest.
Highest.
Railroads
10514 10538 10514 10512 10533 10614 10613 1061:: 10634 10773 10738 10753 31,900
toll Topeka & Santa Fe 10314 Feb 1 11033 Apr b 9978 Sep 11653 J'ne
10333 10333 10333 10333 810314 10312 10314 10314 10333 10333 10314 10314 1,279
10133 Jan 2 10414 Feb 10 10034 Jan
Do prof
10512 J'ne
13834 13834 *13812 13934 813812 13934 140 141
141 14112 141 141
Atlantic
117 Jan 13914 Nov
Coast Line RR_ _ 13313 Jan 10 14312 Apr
2,464
10712 108
10773 108
108 10814 10814 10834 10834 10919 10833 109
sw114 Feb 1 11173 Apr 30
Daitlmore dc Ohio
1312 Sep 10914 J'ly
5,300
*8712 8814 588
88
*8712 88
*8712 88
*8753 8.814 *8712 88
8734 Apr 27 91 Jan 23
8512 Aug
Do pref
91 Jan
95
8633 8713 8073 8714 8734 88
8814 8834 8833 8934 8834 00
72 Sep
7634 Jan 2 9018 May27
43,195 Brooklyn Rapid Transit_
8453 J'ly
26512 26612 26534 26634 26614 26714 26612 26753 26614 267
22612 Mob 4 270 May10 19553Jan 247 J'ly
lanacilan Pacific
26312 26514 22,888
*370 390 *360 390 *370 395 *375 395 *370 395 *375 395
entral of New Jersey _ 305 Jan 9 305 Apr 29 280 Aug 320 Deo
7673 7712 7673 77
7733 7812 7818 79
6814 Feb 1 8158 Apr 11
6833 Sep
79
7934 x7734 78
16,050 Chesapeake & Ohio
8634 Feb
17
17
17
17
1812 17
*17
1712 51713 1712 1712 1712
I/ Sep
17 May31
2012 Apr 8
Chic Gt West trust ctfs
2614 J'ne
762
33
3' *33
34
*33
3334 3334 3334 *3312 3418 *33
33 May21) 3913 Apr
3512 Dec
Do pref trust otf3
35
4914 Feb
300
10312 10433 10413 10414 10433 105
105 10534 10512 100
10538 10558 15,813 Chicago hillw & St Paul _ 210313 Feb 5 11234 Apr 6 10534 Oct 13312 Feb
142 142 *14034 14212 141 141
142 142 814118 14212 ,
Do pref
141 May27 146 Jan 2 141 Sep 15512 Feb
1 141 14212
300
137 138 x13614 13614 13614 13614 13614 13714
137 137
145 Apr 26 1381s Sep 16012 J'ue
1,660 Chicago Ss North Western c13614 J'ne
*180 195
*180 195
-„
Do pref
*180 192
190 May 4 198 Mai26 191 Nov 5209 Jan
*212 3
*214 --24 *214 234
27
273
214 234
.273 Apr 13
113 Feb 16
338 Feb
157 Sep
800 Chic Uri Trim ctfs stmpd
25E1 234
44614 634
*634 634 *614 634 *614 7
Do pref ars stmpd___
714,Feb
1014 Apr 18
434 Sep
4 ?den21
700
612 714 *7
712
*55
61
57
57
*51
57
*50
Cleve On Chic & St L___
*50
57 *____ 57
5413 Mch 28 6212 Apr 23
4813 Sep
66 Jan
*10013 105 :
10013 105 *10013 105 *10018 105 ,10013 105 *10018 105
Do pref
49578 Feb 24 10112 Apr 17
9414 J'ly
98 Feb
*167 16812 8167 170
16833 16838 *16712 16912 16812 16812 *16734 16934
220 fAelaware & Hudson__ _ 167 Jan 10 17512 Feb 6 159.3 Sep 17473 J'ne
*54212 550 *54212 550
54933 54933 *54212 550 8540 550 *540 550
100 I elaware Lack & West_ 540 Jan 16 560 Jan 29 505 Sep 570 Nov
1914 1914 *19
21
*19
1010 1912 2010 2053 2033 2013 2013
600 Denver & Rio Grande
1878 M/t3V2.3 24 Niels 27
1758 Dec
35 Feb
*34
36
35
35
Do pref
3634 Dec
35,4 3514 3614 3614 3612 3778 3613 3613 1,400
3412 May29 4614 Jan 24
74 Feb
*812 1012 *812 1012 *912 101? *912 1012
953 953
100 Duluth So Shore & Atian
9 Nov
812 Meh 4 1134 May16
1553 Mob
22
*18
*18
22
225c *18
*18
22
22
22
*18
*18
Do pref
1718 Dee
23 Mayl.)
16 alch
3013 Mch
3353 3413 3414 3453 3458 3514 3473 3512 3538 3534 3412 35
3918
Lida
28,700
Apr 11
2714 Jan
3014 Jan 15
::833 J'ly
51
51
5118 5112 5113 5212 5214 5212 5234 5234 5212 5212 2,700 I2/ Do 1st preferred
4553 Jan
Apr II
5018 Feb 3
6114 J'ly
*4034 4212 *4034 4212 142
4234 4273 4278 *4134 4234
42
*42
35 Jan
Do 2d preferred
150
40 Feb 3 48 Apr 11
4934 J'iy
13212 13314 13212 13313 13318 13312 13333 134
13413 13412 134 13438 14,200 Great Northern pref. _
126 Jan 15 13534 Apr 41 119 Sep 140 J'no
4112 4112 4114 425, 4134 42
421? 4212 4273 42
42
4233 5,101
3334 Dec
6334 Feb
Iron Ore properties
;30 Jan 31 4a May20
126 126
126 126
126 12613 12658 12714 12718 12718 *12634 12712 1,800 r ilinols Central
12053 May 9 14113 Jan 23 133 Jan 147 J'ly
1913 20
1934 20
1933 1934
20
2014 2014 2012 20
2058 11,100 1 nterboro-Nletrop v t etfs 1638 Jan 3 2134 Men 24
1318 Sep
2033 Feb
5712 5734 5778 5773 5838 5838 5853 58
5634 5714 57
3034 Sep
59
6633 J'ly
Do pref
7,700
6339 Jan 3 62 Midi 26
*11
13
*11
*12
13
13
13
13
*11
*11
*11
13
Iowa Central
22 Sep
15 May
1012 Feb 8 15 Jan 4
*25
30
30
*25
*25
30
30
*25
*25
30
*25
30
Do preferred
42 Sep
23 Apr
24 Mch 15 30 Jan 4
2414 2438 2412 2417 2434 25
2412 2412 2453 2434 2453 2458 1,050 riansas City Southern... 2212 May21 2914 Mch 23
2514 Sep
3733 J'ne
56
5634 5673 5673 *5714 6058 5734 5734 58
*57
58
6033
800 IX Do
6112 Sep
56 May2:4 0538 Mch 25
6934 J'ne
preferred
18
*14
*16
18
1734 *15
*15
18
*15
1734 *15
ake Erie & Western_
1112 Jan 26 18 Apr 24
1734
IU Sep
17 Nov
*39
4012 3934 3934 *3812 3958 *3813 3957 *3812 3953 *3812 395.3
200 ILA Do preferred
30 Jan 8 40 May21
25 Sep
40 Jan
2 171 173
56
1718
: 17014 172
17314 17578. 17514 17634 17412 176.3 103,850 Lehigh Valley
170
56144 17
15578 Feb 5 18534 Jan 15 151 Sep 18673, Dec
15612 15658
157 158
15734 15914 15933 160
15853 15912 17,330 Louisville & Nashville... 14973 Feb 1 163 Apr 9 13613 Sep 16034 Nov
*135 138 4.135 138 *13512 137
137 137 *13512 137 *136 138
anhattan Elevated... 135 Jan 2 13834 Mch 13 13114 Sep 14212 Jan
500
--- 1934 1973
2112 Apr
200 1TI InneapolIs & St Louis 1434 J'ne 7 2712Jan 23
4212 Sep
2222 2\12"
Do preferred
35 Mch
440 Feb 26 §57 Jan 15
6812 Sep
14013 14018 14034 c4-03-4 iii" fif - 14818 1.161-8 141 111-4 14034 fa; -1:ioo Minn St P & S 8 Marle..
129 Feb 3 14434 2.43,15 312434 Sep 15214 Mcb
*152 154 *152 154 *152 • 154 *152 154 *152 154 *152 154
Do preferred
14714 Feb I 15473 May 15 146 Nov 160 Mch
*8513 87
*8534 87
*8534 87
Do leased line ctfs
8612 May21 588,3 Jan 17
*8634 82, *8524 87
*8534 87
8712 fly
9012 Mch
2614 2633 2612 20"4 *2634 27
2634 2712 2773 2858 2812 2812 8,300 Mo Kansas & Texas
2614 May31 3158 Mob 29
8818 J'ne
27 Sep
5812 5812 *5812 59
5812 5914 5912 60
6033 6033 1,400
Do preferred
*5 12 59
6134 Sep
5733 Mayo 66 Apr 17
70 Oct
36
3612 3614 3713 3733 3914 38.33 3873 3778 3933 37
3513 May2.4 4734 Mch 27
3814 17,500 Missouri Pacific
63 Feb
3314 Sep
*5314 65
*63
*6312 65
65
*63
65
65
6514 *6412 70
at Rys of Mex 1st pref 63 May17 71 Jan 4
00 Aug
300
7238 Jan
*3038 3114 31
31
3114 3134 *31
32
3133 3112 *3034 3112
Do 2d preferred.... 28 Apr 1 36/8 Jan 20
2678 Aug
3838 Feb
800
11713 11712 11733 11814 11818 11834 11873 120
11934 12013 11912 120
10614 Jan 9 12112 Apr 25 x91178 Set) 11512 Feb
19,025 N Y Central & Hudson
4137 137 *13512 13612 13634 13634
*13612 13710 x135 135
337 NYNH & Hartford__. 13412 May17 14214 Apr 1 1207,3 Sep 15118 Feb
13673 3678 37
37
3673 3678 ;53T2 38
3734 3734
3734 Sep
- *37
38
4673 J'ly
480 N V Ontario & We.tern_ 3573 Niels I 4138 Apr 12
8673 8678 *8634 8734 8713 8713 8758 8758 *87
88
88
883g
500 N Y State Railways.._.... 8673 J'ne 1 9,34 Apr 26
*46
5012 *46
5012 *46
5012 *4613 5013 *46
5012 *46
4613 Feb 29 55 May 2
Norfolk Southern
4514 Oct
60 Mch
5012
*110 11012 11013 11033 11012 11053 11058 111
:10734 Feb 1 11414 Apr 3
111 11214 11134 11178 6,000 Norfolk & Western
9934 Sep 11114 Nov
91
*87
92
*85
Do adjustment pref._
9012 Jan 4 92 Feb 17
9114 J'ne
8534 Apr
*___ 66
"ii" "ei
;a- -62- ;56- .64" ---168 Nor Ohio Trae & Light
56 Itch 1 I
3912 Jan
6718 Apr 10
6534 Nov
11834 11914 11812 11914
64
119 12013 12012 121
Northern
120 12053 23,435
Pacific
11533 Jan 15 12558 Apr 6 11034 Sep 13773 J'ne
123 123
12:2 12314
12318 12312 12333 12433 12334 124
12353 12313
12212 Jan 9 12614 May 2 11834 Sep 13013 Feb
20,488 Pennsylvania
107 10712 10712 10712 108 108
10814 10834 10812 10834 108 108
9817 Jun 2 11014 May21)
1,800 Pittsb Cin Chic & St L..._
9013 Sep 100 Jan
*110 110 *110 116 *110 117 *110 117 *110 117 *110 117
Do preferred
1(1812 Jan 2 Ill Feb 20 1021g Sop 112 Feb
16558 167
166 16713 167 16834 16858 172
17134 17273 17073 17233 149,100 De/Wing
14813 Jan 11 17914 Apr 29 134 Sep 16173 J'ne
91
*89
91
*89
it, 1st preferred
*8834 90
90
*8814 90
*89
90
*89
8914 Mcb 5 9314 Apr 29
88 Mch
92 J'ly
9912 *97
*97
2d preferred
99
98
98
9912
9814 9812 *97
800
9912 *97
94 Jan II 10112 Apr 29
V012 Sep 101 May
2313 2413 2418 2473 2434 2512 2512 2614 26
2210 May31 3013 Apr 8
15,445 Rock Island Company
2633 2558 26
3234 Sep
3433 J'ne
4913 4934 4934 5014 5012 5178 52
Do preferred
48 Jan 3 6933 Apr 14
5213 5212 5112 5113 7.950
52
4334 Dec
6853 J'ne
*2212 24
Qt Loui & San Fran
*2212 24
*2212 25
*2212 24
*2212 25
2134 May22 2912 Mch 26
*2212 25
23 Dec
27 Oct
*61) 64
1.-2 Do 1st preferred._
*6() 64
*6112 65
*60
*6113 65
*58
64
61 May10 6912 Jan 23
64
69 Sep
6914 J'ly
3612 *3514 36,2 3614 3614 3612 303 *3612 3712
Do 2d preferred
750
3512 May.,1 4334 Apr 11
3534 3534 36
37 Sep
4912 J'ly
3212
*30
3212 3233 3238 3233 3238 3278 33
33
33
*30
700 St Louis Southwestern
2934 Jan 22 3453 Apr 2
24 Jan
34 Feb
*7212 7312 *7212 7312 *7212 75
*71
75
75
75
*73
76
Do preferred
435
6812 Jan 17 771g Apr 8
6934 Jan
72 J'ue
2473 20
26
2513 2573 2514 2514 2514 2514 2514 2512 26
2.900 Seaboard Air Line
2434 May29 2713 Apr 4
5312 5514 5478 551, 5412 5518 5478 5533 5513 5533 5538 5612 10,650
Do preferred
5033 Apr 16 5612 J'ne 7
10838 10914 10853 10914 10913 1091:.- 10953 11012 10973 11078 11014 11012 8.100 Southern Pacific Co
10512 Feb 1 11512 Apr 8 111412:OP 12638 J'ne
28.8 2853 2834 2812 2834 6.400 Southern v tr otfs stmpd _
2712 28
2734 2734 2813 281s 28
2613 Jan 31 311g Apr 9
243.: Sep
3338 J'ly
*7312 74
7412 7412 74
7334 7373 7334 74
74
741g 7413 1,000
Do pre(
6814 Feb 4 7612 Mch 28
do
0114 Jan
2312 2312 2312 24
*2213 24
23
23
2418 *2212 2414
23
600 Texas & Pacific
1973 Dec
2012 Jan 3 2614 Apr 2
3
70
514e
4;
j iri
*3712 3812 3873 3978 3914 3934 1,700 1 hird Ave New
39
3712 3678 3712 *37
37
31 Nov
3534 May 7 4934 Jan 9
41 Dec
714 *612 714 *7
'roledo Railways & Lt_....
*612 714 *614 712 *614 712 *6
3 Jan 15 1058 Apr 10
4 Nov
712
814 Jan
*1212 1312 13
*1212 1412 *1212 14
1312 *13
1312 13
13
1234 Nieh 4 1638 Men 27
300 Toledo St L & Western. _
12 Dec
2434 Feb
29
32
31
30
*29
*29
30
3012 28
3034 *29
Do pre:erred
28
28 J'ne 7 36 Apr 8
3473 Dec
700
5373 Jan •
*105 108 *105 109 *106 109 P107 109 *107 109 *10612 108
Twin City Rapid Transit, 10412 Jan 5 100 May16 101 Sep 111 Feb
• 16613 16712 16634 16753 16734 16831 16812 17014 170 17153 16953 17012 137.850
j nion Pacific
160 Feb 1 17553 Apr 9 15312 Sep 19238
J:1
;
1
96 J
*90
9033 9014 9038 *90
9038 9433 9033 *90
9014 90
Do preferred
90 J'ne 3 9358 Feb 27
9014 1.360
39 Sep
31
30
30
3078 3078 30
*30
30
30
3014 *2912 3012 1,900 Unit Rys Inv't of San Fr 30 J'ne 11 3714 Feb 14
2812 Sep
49 Feb
5912 60
60
60
Do
preferred
1,250
3.
6512
58
5912
Feb
Jan
5914 5912 5933 60
14
5912 5912 *5914
62 Sep
7614 Mob
*4753 ---- *4758
4733 49
*4713 50
300 1/1r21n1.4 rty & Parver
_ *4712 5032
41 Jan 4 50 Apr 3
37 Sep
45 Apr
7
7
713 712 *4712713 733
6 Jan 4
1434 Mayll
714 714
712 -A2
733 712 1,600 15/ abash
534 Dec
1838 Feb
T
Do
1812
18
18
1833
18
1734
1812
1914
1834
3,800
preferred
183
3 1813
*1733
167g Jan 2 2278 Apr 21
1414 Dec
4038 Feb
58
58
59
*58
53
5814 5812 5858 5834 5873 58
5534 Jan 9 6414 Mch 25
58'8 1.500 Western Maryland Ry
4878 Apr
66 J'ly
8212 *75
8238 *78
Do preferred
*75
8233 *75
8233 *7812 82
*7734 8238
75 Jan 9 81 Apr
8834
76 Jan
*7
8
Wheeling & Lake Ere
*7
8
*7
*7
8
8
*7
8
8
*7
914 Men 1;1
4 Jan 10
212 SeP
*21
*21
25
*21
*21
*21
25
*23
25
25
25
25
Do 1st preferred
11 Jan 3 257,3 Apr lb
7 Sep
*1112 13
*1112 13
*1112 13
*1112 13
*1112 13
*1112 13
Do 2d preferred
3 Aug
6 Jan 19 14 Mch
18
76581 F
FFebr
I:6
e
1b
1,Visconsin Central
*5173 55
*5178 55
*5173 55
*5178 55
*5173 55
*5173 55
43 Feb 5 5712 Apr b
48 Sep
7218 May
Industrial&Miscellaneous
*205 220 *205 220 *205 220 *205 220 4205 220 *205 220
A dams Express
4191 Mch 12 521712 Apr lb 1198 Nov 1245 Apr
*12 1
*73 1
34
34
300 rAllis-Chalmers
*34 1
3 Mch30
*34 118
12 Itch 26
*34 1
113 Dec
934 May
*234 ____
212 234 *234
*212____
*234
Do pref
200
212 J'ne
*212 -8 Jan 2
653 Dec
34 Feb
- 8312 84
8334 8578 8638 88
8114 8212 82 -8314
8614 8733 236.600 Amalgamated Copper
88 Jena
60 Feb I
4434 Sep
7158 J'ne
6138 613, 6112 6112 *6012 6112 *6034 6132 62
6238 *6112 62
1.450 Amer Agricultural Chem.. 5812 Feb 27 6353 Men22
4434 Sep
5312 Deo
*100 101 *100 102 *100 101 *100 101 *100 101 *10033 101
Do pref
10014 Apr 15 10414 Mch 2O
9912 Oct 105 Deo
6813 6914 6812 6912 69
6912 6934 7134 7134 7238 7138 7412 42,350 American Beet Sugar
53 Feb 26 76 Mayll
3914 Jan
6934 Oct
10078
10034 10034 *100 10078 10014 10073
10078 10078 100 100 *100
Do pref
571
9212 Jan
97 Apr 3 10023 Jan 10
19011 OFebct
; *9533 9534 *9533 9534 49534 9534 *9533 9534 96
06
*9512 9614
125 Am Brake Shoe de Fdry
9112 Jan 2 98 Apr 23
87 Sep
13812 13812 *138
*13614 137 *13612 137 4137 137
137 137
Do pref
235
130 Jan 2 13812 J'ne 6 12212 Oct 13
9838
3 D
Fe
eb
o
3613
3634 38
' 3314 3538 3513
3553 363, 3512 37
3614 37
83.640 American Can
1114 Feb 1 43 hi aY 11
1212 May
878 Jan
11758 11812 118 11812 5,400
116 11634 11638 11658 11634 11734 11653 117
Do pref
9058 Feb 1 12112 Mayll
77 Jan
5712 6778 5733 5778 5814 5812 5812 59
6058 5912 5978 8,200 American Car & Foundry 49 Feb 5 603 Apr 9
59
4233 Sep
6814 J'ly
*118 119 511873 11873 *118 11834 11812 11873 11873 119 *11812 12019
Do pref
525
115 Feb 14 120 May24 313 Oct 120 May
54
5314 5334 5334 5438 54
4512 Jan 19 5714 May 3
• 5314 5312 5.114 5338 *53
4153 Nov
5414 1,800 American Cotton OU
Feb
9714
*943
2
prat
Do
05 Jan 19 9914 Feb 13
*943s 97,4
*94311 9714 *9433 97,4 *9434 0714 *0434 9714
02 Nov 10
65
21382
220 220 *212 220 *212 220 *212 220 5218 218
*212 220
200 Feb 2 5225 Apr 11 '201 Sep ;255 Jan
60 American Express
A
N
118%11914
12314
‘
BANKS AND TRUST COMPANIES-BROKERS' QUO I'
.
Bta
Banks
New Fort
Aetna
195
America 11_ 620
Amer Exch _ 237
Battery Pk
125
400
Bronx Borol: 300
roaa Nat. 175
Bryant Pk II 150
utch de Dr 130
Pentury 11... 230
Chase
635
Ask
205
630
243
130
181)
156
140
Bea
Banks
ChaterPhenlx 18212
kjheisea Eat 8150
440
Chemical
tizens' CU 180
city
4171
Coal & Iron 155
Colonlai
425
Columbia 11. 335
Commerce _ 11981
Corn Ex 11-.. 320
East River
100
Fidelity 1.._ 165
Asa
1871
450
185
425
160
350
115
175
B1.1
Banks
Ask
Fifth Avell_ 4500 4750
0.1312
300 325
('(rat
1000
Fourth
1202
.7allatin
400
aartleld
1275
Jerun.Am $ 140
•ierm'n EMI 425
4-40siermania
525
540
Jotham
155
165
Jreenvrion
250
ianover
670
4-1-6
Bank,
HarrImal
itip As 'frail
Irving N Ex
Liberty.......
LI ncol n _
dan hattan$
.larlet&Ful
dech & Met's
dereantlie .
rierch Ezell
derchants'.
itta
290
565
230
590
375
.340
250
263
176
16212
185
Ask
676
414385
3471.,
2571:
26711
185
1871?
111
Banks
Betropolla 1. 375
Oetropol '1111, 191
91t .9iorrl9lj. 250
d utuai
288
1202
Nassau
New Neth..1 220
New Yorke., 875
New Yore
340
255
Park
370
People's II__ 240
43*
385
198
•_60
2021?
311;
285
375
250
hanks
erod Ezell II
.teserve _
,eaboard _
recond
mcurhy$
met alan_
state $
230 Wardll
1111 on Exc.
Nash /1"ta 1;
Vest Side $
r ores/111e 11.
LIU
170
00
415
375
135
135
250
175
162
275
.300
145
275
108
050
600
11,* Bid and assed prices; no aaies were made an tnis day. 1 Ex-nithta.
Leas than 100 shares. 11 State Danes a Ex-davidend and
ü NeW stock.
!Bele as Boot Ktonange or at MICR= tills wools. 4 First Instannieat paid,
bold at Private Sale at Vats price, a Ex-dividend. I Full paid.
Ash
175
1551
New York Stook Record--Concluded-Page 2
JUNE 8 1.912.1
For recur,. or sites .1.irlaa ess wsel DI stlevitviIIy 1•11:t'v't so, 45^:rt I 11 t.; srsee Brut
sates os
STOCK'S-HIGHRST AND LOW MST SA I,B FRB.KS
Saturday
June 1
Tuesday
June 4
Monday
June 3
Wednesday
June 5
Thursday
June 6.
Friday
June 7.
Week
Shares.
STOCKS
NEW YORK STOCK
EXCHANGE
Kano* since January 1
on oasis of 100-snore tots
Lowell
Highest
Range For Pretious
Year 1911.
Lowest
if Wiest.
Industrial and Misc.(Con)
312 Sep
6 hut
61. May16
3 Feb 19
1,000 American Hide & Leather
512 512 *514
533 51,)
518 513
5
5
5
6
2638 J'n•
18 Sop
Do pret
20 Fen 26 2713 MI33,16
200
*24
27
*24
27
25
*2112 27
*2112 2312 2278 2314 *23
2534 J'IV
Aug
1.12
18 Jan z 304 May:•
Ice Securities_
2414 2512 2578 2612 2618 2612 2578 2083 2678 2758 2612 208 7,000 American
Aua
128. Feb
9 Mch 6 1778 Apr 2.3
Linseed
1334 14
1358 1414 *1378 14, 1414 141; *1418 1478 1418 1414 1,310 American
2618 Oct
3412 Dec
30 Feb 20 43 Apr 23
Do pret
1,009
*3612 38
3712 38
*3612 38
3718 *3612 38
*34
37
36
4.314 May
218(Set
4234 4238 4212 2,900 American Locomotive_ - 3134 Feb 27 4434 Apr 9
4058 4078 *4058 4114 4114 4112 42
4078 41
10.3 Jan 15 110 Apr 8 102 Oct 11034 Meh
Do pret
100
107 107 4106 101 *106 10814 *106 108
*107 108 *107 108
538 Jan
3 Sep
434 Jan 10 1514 May16
141. 1478 15
1,200 American Malt Corp
*1458 15
14
1378 14
*1212 14
14
*12
4358 J'1y
3112 Men
Do pret
42 Jan 6 5418 M ay 11
800
*5812
50
587
8
587
8
58'
14
5812
5812
58
*5612 5734
58
*55
8918 J'iy
82 Sop
2
Me1322
89
May
Amer
86
Smelters
Sec
200
prat
B
84117
89
3
*8812
*8812
8912
*883
89
8818 *88
89
88
*88
8378 J'ne
5658 Sep
8718 8578 8653 64,350 Amer Smelting& Refining 6773 Feb 1 8958 Mch25
8414 8418 8614 86
83
_14
3
8138 8258 8214 4
9834 Sep 10812 J'ne
Do pret
10238 Jan 2 10813 Apr 24
10712 10712 1,185
10714 10734 108
*107 10712 107 10738 *107 10712 10714 13612
225 Sep 325 May
J'ne
Mob
6
165
American
123
Snuff
15,450
13412
168
148
147
138
134
131
*125 13212 *125 135
Aug 105 Dec
Do pre
10218 Jan 16 111 Jan 20 96
*102 108 *100 108 *100 108 *100 108 4100 108 *100 108
Do pref. rwAr
99 Feb 9 103 J'ne
700
10212 1021, 103 103
102 102 4101 103
*10112 10212 4100 103
5212 Feb
Sep
25
ayll
M
3913
Amer
J.:n
19
Stee!
26
round
(new)
825
3612
3634
3634
36
36
35
35
*35
333
*35
36
36
13078 17,685 American Sugar Refining 11434 Jan 12 1331- May I., 11214 Sep 15212 Feb
126 12612 126 12634 12678 128?:. 12812 12938 12314 13058 12934 1213
Do pret
11512 Jan 5 12318 J'ne 3 111 Jan 11912 Feb
277
4121
12138
3123
123
125
124
*121
12313
12318
*121 123
14553 14578 4,168 American Teleph & Teieg 13758Jan 2 14918 Men 25 13112 Aug 15318 J'ne
14538 14513 14518 14512 14514 14512 14514 14518 14558 146
24118 Feb 29 297 J'ne 7
21,150 American Tobacco
29212 29473 291 297
287 293
28912 235
27178 27234 275 287
87 Aug 10514 Dec
102 Jan 9 10834 Jan 19
Do pret
100
107
109
*106
107
10714
*107
*10618
10714
107
8
*1055
*10512 107
10114 Jan 11 1008 Jan 111
Preferred,
new
10514
8,100
10412
105 10513 10434 10514
10334 10334 10334 10334 104 104
2512 Dec
3612 Mesh
2514 F'eb 6 31 Mayl;
300 American Wooten
29
29
29
*28
2914 *28
2912
*2713 2934 2812 2812 *28
8514 ezet.
9614 J'no
Do pret
85 Feb 7 9412 Mentz
400
*9112 93
9134 9134 9134 9134
9314 9234 9234 *9113 93
•90
.1412
Feb •
2412
Sep
Mg
Jan
28
Amer
4138
Writing
May
Paper.
nrl.
1,000
3658 3653 3638 3634
35
35
*3512
35
3518 3518 35
44
4278 43
4258 .
44
4434 4418 4434 77,435 aA nacondaCop per Par125 $34 Feb 1 $4478 Apr 2 $29 Sep $4118 J'ne .
4134 4214 4213 43
10513 Feb 7 123 Apr 19 111612 Dec 108 Dec •
200 Assets Realization
*12014 12212 v12014 12212 12014 12212 012 04 1221, 1,12012 12212 *12058 12212
108 *May1•1 10314 Dee 10/ Dee '
.In Locomotive, of 10234 Feb
310 Watch,
10778 10748 10734 10734
*10713 108 *10734 108
- *10734 10778 10778 10718
3818 Aug
2734 Feb 27 42 Apr 19
Sep
36
86
3512 3612 3638 37
3778 4,300 lethlehetu Steel
3718 3712 3712 3812 37
6634 J'iy
5612 Feb 27 7434 May
64 Sett
Do
pret
1,525
72
7134
7238
7138
70
70
70
*6912
7138
6934
71
*70
Mch
21
Sep
14814
1451
z129
Nov
)
May16
13112
Brooklyn
Union
Gas
100
144 144
*141 144 *14112 143 *14112 144 *142 145 4142 145
25 Feb
31 Mch
2913 Mch 15 4018 Apr .10
Butterick Co
*3214 36
*3214 3512 *3214 3512 c3214 3512 *3214 351 2
*3214 38
1834 Sep
3338 Feb
Feb 21 2818 Apr 22
1612
/
‘entral
Leather
1,300
*25
2612
2578
2614
*2413
26
2434 249, *2434 2534
2412 2412
914 Dec 105 Feb
Do met
80 Feb 27 9533 A pr 22
1,100 V
*9334 95
*9334 95
94
9414 9414 9334 9413 93:( 9358 94
29.830 11Chino Copper_ _ _ _ Par $5 $25 Jan 15 $34 J'ne 7 $1512 Sep $2712 Dec
3378 3318 34
3014 3018 3034 3058 3358 33
30
2934 30
2318 Feb 21 3414 Apr 10
3638 Feb
25 Sep
Colorado
Fuel
&
Iron_
1.800
29
2038
287
8
2913 *28
30
2858 2853 2858
2714 *27
27
3,800 Consolidated Gas (N Y)_ 13514 Feb 17 146 Meh 28 12534 Sep 14812J no
141 14114 14112 14112 142 14234 14238 14234 142 142
13953 140
1534 May
958 Oct
10 Jan 15 1712 Apr 24
Corn Products Henning
4.000
16
8
*1518
1518
157
1418
1518
1514
1558
1512
15
1512
1434
85 54 ty
73 Sep
x7614 Jan 3 87 Apr 24
Do pre!
500
83
*82
83
*82
83
*82
8114 8114 *8012 8112 8212 83
59
3814
Sep
28
Melt
Feb
3
Distillers'
3438
Apr
Securities
8
Corp
3214 3212 32
3278 2,200
3112 32
3134 3134 3138 32
*31
32
36 Feb
13 Dec
Federal Mining de Smeit'g 1114 Feb 28 1834 Al ch 26
17
*13
17
*13
*13
17
17
*13
17
*13
*13
17
374,
6612
May
Jan
23
46
37
Dec
Mch
25
prof
Do
4114
4412 *4118
*42
44
*41
44
*41
44
*40
44
*41
142 Sep 16838 May
Ap
pr
r
13814
73 A
General Electric
16712 16812 16812 16953 16912 17012 16912 17012 169 16914 6,900
167 167
35 Nov
6134 Aug
ars_
275 Gen siotors vol
*3414 3512
35
3438 3438 3413 3412 *3414 3514 *3438 3558 *34
13°
7
5
0
5
14
j
F
tii
a
a
e
nb
y
2362
82
8658 Aug
7412 Dec
Apr
8
vol
tr
ctts..„
prof
Do
1,033
74
7412 7434 74
*73
75
74
7318 *73
*73
75
73
$4 j
y 31 $
$312 Oct
ae
20
518 J
Mu
131ch
0e 18
7
6773 Jan.
Par $10 s1814
438 412
433 412 14,325 df;oldfield Con M
414 414
414 438
414 438
4,8 412
$
Par
$20
Con
Cop
nsp'n
dl
14.67:3
19
1912
1012 2018
1813 1938
1858 1878 1814 1858 1814 1814
9918 Sep 12938 May
6.700 Int Harvester stk tr cfts 10514 Feb 1 1241, slav2),
117 11712 11878 12078 12034 12212 12238 12233 12112 12218 4120 122
11(512Jan 26 1'2134 Apr 4 116 Sep 12814 May
Do pre( stk tr ctts
600
120 120 *11712 120
120 121
120 120
120 120
*119 120
314 Sep
778 Men 21,
4 Mcb 7
5711Jan
tr
ctts
Marine
stk
Mer
Int
1,800
*414
4
5
8
*414 458
414 438 *414 458 *414 458
414 414
14 Aug
2212 Dec
1713 May10 26 Mch 29
Do pret
500
*19
29
1878 1878
20
1934 *18
*18
20
*19
19
, 19
0 Sep
1338Jan
938Jan 17 1,34 May23
1612 1514 1673 1614 1613 1638 1634 10,850 International Paper
• 1518 1517 1434 1558 16
5638 Jan
4458 May
x4578 Jan 3 6278 May2,)
Do prof
2,800
*59
60
60
58
5934 5034 5958 601., 59
5713 5814 58
44 Feb
23 Oct
2112J'ne 3 34 Jan z
26
2612 2,460 Internat Steam Pump
2618 2618 2653 28
2618 2618 2412 2614 2512 26
9012 J'ne
SO Oct
79 Feb 1 8458 Apr 8
Do pref
610
80
*7912 8012 80
*7913 81
*7914 81
7958 80
80
80
10114
Sep
11412
Ja11
Jan
4
:Bch
10
10834
104
Laclede
Gas
(St
L)
com
10012
500
*10513
106
410512
106
106
105 105 *10412 10512 10512 10512
0,600 Liggett de Myers 'tobacco 15678 Jan 15 201 J'ne 7
195 195
195 204
195 19612 194 195
*190 19212 19212 195
Do preferred
10512 Jan 12 11312 Jan lb
1,127
113
*112
11212
112
11312
112
112
112
112
112
111
111
96 Feb
74(2 Dec
7518 Jan 31 8734 J'ne 5
1,150 Mackay Companies
8334 8334 *8313 8512 *8314 8712 8712 8734 *8
77 Mob
Do prof
68 Dec
6)112 Jan 11 7078 Jan 23
711 8
67
9,
7
12 *
600
x8
66
813 8
69
6
6912 6913 6978 6934 6978 603
6913 *89
, *69
Si J'ne
May Departmenc Stores_ 69 Apr ii 8214 May23
70 Apr
650
79
79
80
80
*79
*79
79
7734 7734 79
80
*78
10912 Apr 3u 112 Jan 11 10734 Sep 11314 J'ne
Do prof
*106 108 *106 110 *106 108 *105 108 *106 110 *106 108
6234 Apr 20 7338 May ii
12,680 Mexican Petroleum
69
6878 68
69
6912 6814 69
6773 6812 68
; 6718 68
31.300 d Metall Coo per_ _ _Par 115 $2318 Feb 14 $28 J'ne 7 *1658 Sep $2.413 Dec
2618 2534 2612 2614 2612 2638 2634 2634 2733 2712 28
• 26
13912Jan '2 161 Apr 3,, 11714 Jan 14334 Nov
ational B'scuit
1,200
156 156
' 15514 15514 157 15818 v15613 1577,, 15718 15778 *156 158
12634 Feb 20 130 May14 124 Jan 130 Feb
Do pret
25
*12714 131 *12714 131 512714 12714 *12714 131 1.125 131 *125 131
1214 Feb 29 1914 May15
22 J'ly
1212 Dec
Enamel'g & Stamp'g
Nat
100
*16
1714
*16
1713
1
1714
17 2 *16
*16
• 1578 1578 *1534 17
88 Feb 27 9512 Jan 5
10034 J.17
85 Jan
Do
pret
*92
95
*92
95
95
95
*92
*92
95
*92
95
*92
4212 Sep
59 Feb
5118 Jan 9 6058 May22
5713 5738 58
5814 5834 z5734 5814 4,200 National Lead
5713 57
5614 5714 67
10512 Feb 1 10934 Feb 15 104 Sep 10934 Aug
Do pret
200
,*10534 10714 10714 10712 *10712 10934 *10112 10912 *10712 10912 *10712 10912
$2114 J'n•
x22118 2258 23,650 dNev Cons Copper_Par $5 $1814 Jan 29 82314 May 1 31513 Sep
2138 2158 2114 2134 2178 2238 2238 2258 2234 23
76 Feb
46 Oct
7434 7612 7434 7514 6,540 New York Air Brake__ _ 60 Feb 17 7612 J'ne 6
66
71
6134 63
65
• 6112 6112 61.
64 Jan
7534 May
Apr
27
Jan
3
8475
741
Co
(new)
North
American
4,030
1
82
8212 8212 8234 83 2 83
8334 83
8212 82
8314
*80
3338 NOV
30 Jun 3 35 SIGh27, 2318 Apr
3213 3338 32
3378 3312 3334 3312 3334 2,360 pacific Mall
; 3214 3234 *3214 33
508 Jan
35 Sep
47 Feb 5 5538 Apr 25
acitio Telep & Teleg
700
51
*50
5114
5114 5114 51
4912 50 *4812 4912 5114 52
10112 Aug 109 Jan
11113 11218 112 11258 11258 11312 11312 1 1614 11513 11612 115 11578 10,200 Peopie's G L de C (Chic) _ 103 Jan 8 11814 May25
99 Sep 11812 J'ne
400 Philadelphia Co (Pittsb) _ 102 Xis() 3 11114 Feb 1(3
10:312 104 *103 104
102 102 410113 106 *10212 104
,*102 108
2314 J'ne
1634 Mch 1 2334 Apr 23
17 Dec
Pittsourgh
Coal
Co
700
*2113
2212
22
22
22
22
2214
2214
2212
2212
23
' *20
6734 Jan
0078 J'1.1
pre
Feb
8
9278
May24
Do
77
5,000
9034
9034 9014 0078 0012 9078 9034 9134 90
90
90
89
167 Mch 11 19612 J'no 7
188 19612 8,381 P. Lorillard Co
•*-_, 18712 18912 18912 18812 19018 18612 18812 188 188
Do preferred
10734 Jan 12 115 Jan 19
660
112 112 *11112 11212 11214 11212 511312 11312
*11014 11212 112 112
'25 Seri
2834 Feb 27 3738 Apr 1)
3758 J'n;
2,450 Pressed Steel Car
36
34
3434 3584 3478 3513 *35
3318 3314 3338 3338 34
1)0 bre.
96 Feb 28 10312 Apr 24
91 Sep 10234 JIM,
200
10012 10012 101 101 4101 10112
*100 102 *100 102 *100 102
Feb 17 11134 Mch28 108 (let 120 Feb
J..
10634
Service
Corp
of
N
Pub
600
10934
11014
10913
11112
*10912
112
11012
*10778
*107 11112
15812 Feb 2 163 Apr 29 154 Seri 163 Jan
Pullman Company
.
912 15912 15958 15912 15912 15912 1591 2 v15914 160 515978 15978 1,400 Quicksilver Mining
15912 15
3 Jan 4
412 Nov
812 Apr 28
2 Apr
30
614 *412 61 2 *4
6,2 *412 612
612 5512 512 *4
*4
312 Feb 28 1214 May13
512 Nov
212 J'ne
prof
Do
100
1
*7
1114
8
8
61
014
*612 914 * 2 9 4 *7
*612 10
26 Oct
39 J'no
anyway Steel Spring.._ _ 2712 Feb 8 3714 Apr 27
3414 3414 3412 35
34
*3312 35
3514 *3434 3634 1,000
*3313 35
92 Jan 103 J'ne
100 bleb 12 103 Feb 21
Do pref
*99 102
*10013 102 *10018 102 *10018 102 *10013 102 *10013 102
20
20
2038 2013 2034 46,400 dRay ConsCopper Par $10 516 Jan 29 $2034 Apr 2 *12 Sep $19 Dec
19
1818 1812 1814 1878 1834 19
3514 Feb
1534 Feb 26 27 Jan 2
18 (Set
2118 2178 2238 2378 2334 2458 2414 2438 2414 2438 24 • 2414 6,360 Republic Iron & Steel.._ 6412 Peb 21 8538 Jan 3
7418 Oct
993s Feb
Do pre(
3.212
80
80
580
80
80
8014 80
80
80
78
76
' 76
192
19412May22
Feb
12512-Sep
Jan
15
140
18912
Sears,
Roebuck
&
Co-9,980
19013
18812
19214
189
189
8
19034
183 18318 18414 18913 1897
5614 Feb
34 Sep
1,500 Sloss-Sheffield Steel & ir_ 3914 Jan 30 5212 Mayll
52
*50
*48
50
50
*48
501 2 5012 5238 *50
50
*47
Feb 1 $4714 May21 $3014 Sep $44 J'ne
$3412
625
7.800
_
Par
d'rennessee
Copp
45
4434
4434
4512
45
441
44
4438
8
4338
447
8
4312
4112
108 10812 10513 10712 105 10714 10714 10938 110 11018 110 11014 7,165 Texas Company (The)--- 81 Jan 16 11134 WW2, 7912 Nov 13612 Feb
63 Meh 111 J'ne
105 10913 109 11012 11013 11138 10814 1088 2 6,830 I nderwoo,1 Typewriter. 9834 Apr 3 11138 J'ne 6
*104 105 *104 105
111 Feb 26 113 J'ne 5 103 Met 11378 J'IY
Do pret
100
113 113 411113 115 *112 114
*11112 113 *11112 113 *112 113
9 Feb
May15
Jan
25
1778
434 Dec
458
Union
Bag
&
Paper
4,300
1212 1312 1278 13
1018 1034 1034 1034 1034 1138 1134 12
5018 Nov 5912 Jan
4934 Feb 21
Do pret
6734 May15
100
64
*58
6414 *55
65
64
*62
6414
6614 *5613 64
*55
2
1
5
1
May21
ay
434
16
United
Cigar
4,200
Mfrs
1
1
6178
*59
61
61
6034
62
62
6414
6012
61
8
61
8
6012
Feb
10014 Sep 510612 Oct
Jan
Do
pref
.•=105 116
*105 110
*105 110
9712 Sep 108 J'ne
19
059
7
612 jFMaeanbY111(01) 10113 Apr lo
60 United Dry Goods
33)93 9955
*9912 100
*99 100 ;65- 1-6i- *99 100
Mav2„
Feb
24
108
10034 Sep 10712 jay
10338
Do
pret
1
*10412
10612
*10512
10612,410512
10612
*10512
*10434
106 2
10612
19 Feb
11 Set)
13 Feb 16 2212 May16
S Cast I Pipe & Founar
1912 20
2058 2034 2034 2034 21
*1812 21
2114 2058 2058 1,460
4012 Sep r61 Feb
50 Jan 4 6712 Apr 22
Do prof
6613 5613 5678 57
5712 5714 5712 5714 5714 1,565
*55
56
56
8114
7934
May
May20
Jan
67
Jan
31
5518
&
Improv't_
15
S
Realty
1,100
76
5
8
78
76
5
8
7714 *7612 7712 *76
7614 *76
7612 77
76
3012 Sep
4812 Dec
4514 Feb 1 6778 May21
6358 6414 6414 6433 *6358 6414 5,500 United States Rubber
6134 (33
63
6314 6314 64
109 Jan 30 116 May2,. 1(14 Sep 11512.1'1y
Do 1st pre(
11112 11134 2,215
111 11134 111 11118 111 11118 11114 11182 11118 112
66 Set)
79 ma
75 Jan 23 8512 May21
Do td pret
800
8114 *8112 8214 *8112 8214
81
8218 8218 82
82
82
82
8218 Feb
6814 Feb 13 7314 Apr 30
60 Oct
6934 7038 354.021 United States Steel
7018 71
66
6713 6678 6758 6734 6878 6812 70
10738 Feb 13 1133, Apr 8 103 Oct 12078 Feb
Do prof
110 11012 11034 11034 11058 11034 11078 11078 11078 11118 111 11118 3,921
6434 6512 x6418 6478 45,150 dUtah Copper.. __Par $10 25212 Jan 29 26512 Apr 8 $:48 Sep $5778 Dec
6112 6218 6253 63
6312 6334 6318 65
4318 Sep
7038 Feb
49 Jan 17 5714 Jan 26
5114 1,900 VIrginia-Carolina Chem.._
5034 6078 *51
5112 51
5118 5114 5182 5114 5178 51
118 May 1 122 Mch 27 114 Set) 12812 Mob
Do pret
150
*118 119
119 119 *11813 119 *11812 119 *18813 119 ;119 119
Sep
177
May
139
3
Jan
5142
Feb
7
161
Co
Fargo
h
ells
148
*140 145 514212 143 *140 145 5111 14412 *140 14513 *140 145
8412 May
7158 Apr
79 Jan 2 8614 Jan 18
estern Union Teleg_
83
82
82
8134 8218 8238 8238 8278 8:3
8358 83
8314 2,614
79 May
5858 Sep
4,12( Weatingh'se El &M tg assen 6614 Jan 3 8178 Mch 27
7312 74
73
73
7112 7134 7134 72
74
7138 7133 71
11478 Jan 5 122 Mch23 1101, Ang 123 Jim
2(
Do 1st pref
•116 120 *1113 120 .118 120 4117 120 *114 120 3117 117
N
E(
W
BAN KS AND TRUST COMPANIES-BANKERS' QUOTATIONS.
Banks
Brooklyn
Broadway 1
Coney 1s1d1
First
Oreenpo int
I:111181dd _-liornesteadi
lianutae'rs
Mean:101ml
Montauk 11
Nasaau ____
IN,at City___
Bid
As*
370
.....
'2130
165
....
--410
230
--'212
28)
396
153
295
175
123
190
425
240
150
225
295
Bta
Ask
Bid
Ask
175
160
140
200
Lao
165
1040
396
90
300
535
1375
220
315
1020
90
___
400
95
310
__
1100
225
325
1085
105
Crust Co'A
N Y(MY
Central Fr_
Columbia __
.5onimercial
Empire _
Euuleble Tr
rruSt Co's
Farm Lode!
N Y CIty
Fidelity .._
Astor.
.:... 370
__ e•ii ton L._
'Warty Tr
Hankers' LT 535 591
sway 'Fr... 1771; 1521, .euardlan Tr
Banks
Br,ktyn
North Side 1;
i'eople's .._ _
Prosp'etPle.:
Trust Co's
Hudson
I{ ninkern•kr
Law T l& Fr
Lincoln Tr
Metroport'n
Mutual AID
ance
liutH Westcheater)._
lila
140
295
225
__
450
1471
140
Ask
trust. Co') Ind
NY Life& l'r 1030 1045
.51 Y l'rust. 530 640
Standard Fr 370 380
1 itieGude Tr
600
Union l'r_ 1300US Mtg& Tr 470
46.)
____ Unit States 112(8 1130
.), asninaton 390
410
11.)
150
.Vestctiestet 150
Windsor -. 190
195
Ask
150
300
230
145
_
I rust Co's Bid
Broiklyn
Brooklyn Ti 470
Olt,izens' ___ 140
eranklin..__ 266
iamilton __ 270
105
Home
520
Kings Co
L 131 L & Ti' 300
155
Nassau
295
Peoples'
iueens 0o. 95
Quoteddollars
•Bid and asked prices: no sates on this day
iLaces than 100 lihares. t Mx-rights. 0 New stock. a Itz-dtv. and rights. S
Saiale at Stook ELchenge or at auction Ms week. s x stock dividend. 113anks marked with a puatrapti (I) are Stabil banks. a Szedilfidled.
Ash
275
285
11$
.......
312
166
305
106
-1
New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
Jan. 1 1909 t/te Szchanos method of quoting bands teas chanced, and prices are 'me all—"and inieresi"—excepi for income and defaulted bonds.
BONDS
N. Y. STOCK EXCHANGE 1
Week Ending June 7.
--,3,
U. S.'Government.
U 8 2s consol registered_d1930 Q-J
U S 23 consol coupon____al 930 Q-J
U S 3s registered
k1918 Q-F
U S 35 coupon
k1918 Q-F
U S 4s registered
1923 Q-F
U S 48 coupon
1925 Q-F
U S Pan Canal 10-30-yr 2s k1936 Q-N
U S Panama Canal 36 g
1981 Q-S
Price
Friday
June 7.
Week's..a
Range or
,e.;.!
Las Sale
cli
Range
Since
Jan. 1.
BONDS
N. Y. STOCK EXCHANGE
Week Ending June 7.
/-
Low High Chesapeake & Ohio—
Gen funding is impt 58_1929 J -J
10034 10075
1st consol gold 55
10034 1013
Registered
102 10234
10
999
332
91
5
111:N
General gold 4 345
SN
10112 10.814
1992 31-S
Registered
11314 1145F
1930 F- A
yearntd
1byle4
1stg
u
s
igns
C
Bo
11314 11434
1944 J -D
1945 JD
Coal Rly Ry 1st gu 4s
1019910212
1940 J -J
Craig Valley 1st g 5s
1946 J -3
Potts Creek Br 1st 4s
Foreign tioyernment
R & A Div 1st con g 4s 1989 J -J
7 97 9938
Argentine—Internal 58 of 1009_ M-S 1 99 Sale 99
9999
2d conso! gold 45
1989 J -J
Chinese (Hukuang) fly 5s .C.__— J -D i 9433 95 9414
9414
2 9314 9512
Warm Spr Val 1st g 5s_ _1941 11-S
Imperial Japanese Government
Greenbrier By 1st gu g 48 1940 11-N
9252 45 02 94
Sterling loan 4 gs
1925 F-A 1 9238 Sale 9214
Chic & Alt RR ret g 3s
915c
1949 A-0
3d Series 4348
9 9114 93
1925 J -J 1 9114 dale 9114
Itatlwap 1st lien 3 34s,,,_ 1950 3-3
Sterling loan 4s
1931 J J 5 85 8.14 8512 May'12 ___ 86(2 8815
10312
Republic of Cuba Is eaten debt.. M-S 1103 10312 10312
4 10212 10358 Chic B & Q Denver Div 4s 1922 F-A
Illinois Div 3 34s
9934 9013 May'12
External loan 4 kis
1949 J -J
99 9918
1949 F. A ;_
Registered
San Paulo (Brazil) trust 58_1919 J -J 1 975s 9812 9758
9758
9 971 98
Illinois Div 45
9414 9414 .May'12 _. 94
rokyo City loan of 1912, 5s____ M-S 94
1949 3
194
95
J-1
Registered
U Sot Mexico 8 t g Is ot
461 2
1899 09- J 1 9553 96 0612
2 9512 9714
Iowa Div sink fund 5s-1919
_- 9112 91 May'12 _. 88 91
A-0
-1
Gold 43 01 1904
1949 j
1934 J-D
' Sinking fund 45
t Aese are p rice: on the be As 01 51 to £.
1919 A-0
Nebraska Extension 4s1927 M-N
State and City Securities
Registered
N Y City-4 Lis.
1960 11-S 10113 Sale 10113 10138 12 101 103
Southwestern Div 4s__1
101
214 10078 10118
43(s when Issued
1927
92 1 '11-N
_982 __
&1-S"
10u78 Sale 10038
Joint bonds See Great North
9912 83 9914 10018
4% Corporate
_19.):' 11-N 99•;8 Sale 9914
Debenture Is
13
4% Corporate Stook99% 17 991,10018
Stock __1958 hi-N 998 Sale 9933
General 4s
4% Corporate stock
9933
9958
6 993i 10014
1957 11-N 9914
III ref & imp 4 10_11199955 1-N
J1-S
J
New 434s
10738 11 107 10778 Chic 3:
1957 M N 107 10/14 10738
1st consol gold 6s
1934 A-0
New 4 kis
102 Melt'12
102 10234
1917 1f-N 1,10158
General consol 1st 53
1937 13-N
10718 16 107 10778
434% Corporate Stock 1957 )11-N 1u7 10714 10718
Registered
11)37 111-N
434% assessment bonds_1917 11-N 102 10214 102
10214
2 102 10278
Chic & Ind C By 1st 5s 1938 J -J
34% Corporate Stock_ 1954 11-N 8812 86,
8 8614
8612
5 8638 88
1959 M-S
14 IC State-4s
1961 11-S •10058____ 10112 May'12 ____ 101 10278 Chic Gt Western 1st 45
Canal Improvement 4s1981 J -J 101 ____ 10118
1,)113
7 10113 1027 Chic Ind & Louisv—Ref 88_1947 J -J
Refunding gold 5s
Canal Imp'ment (new) 4s 1961 J - J 101 ___ 102 Apr '12 _. 1(3134 103
Refunding 43 Series C.
-119417
Canal Improvement 43_1960 J J 101 ____ 10114 May'12 ____ 10114 102
9 7j
-1-1
Ind is Loutsy 1st gu 43 1950 J-J
50 Carolina 434s 20-40
1933 J -J -,_,- --_ 10:312J'iy '10
Chic
Ind is Sou 50-yr 4s
-6V3
4
073
4
1958 J J
g7I ,.,.. 9734 Apr '12
Tenn new settlement 3s
1913 JChic L S is East 1st 4 34s
1969 J -1)
Virginia fund debt 2-33_ _1991 J -J
- ------88 8812 Dec '11
4712 May'12 ___ 46 - -5214 Chic MI1 &St P termi g 56_1914 J -J
6s deferred Brown Bros ars__ __ 47 49
Gets') gold 43 Series A__31989 J -J
Railroad
Registered
31989 Q-J
A on Arbor 1st g 413
81995 Q-J 79 791- 7913
7912
5 7913 8414
Gen'i gold 354s Series 8_01989 J-J
rite:Crop & S Fe gen g 48_1995 A-0 9858 Sale- 9813
9013 188 0812 100
Registered
991.,
Rertered
98
1995 A-0 9712 99 9834 May'12
25-year deben 45
0032
8 9014 9238
Ad ustment gold 4s____81995 Nov 891 911 9014
Cony .4 gs (full pd reots):__83_49_
egistered
81995 Nov ---- ---- 91 Feb '12 ____ 9014 91
Chic & L Sup Div g 5s..--1921 3"U
9012
2 9012 9258
Stamped
81995 If- N 90 i3- 9013
-Cony 45 issue of 1909
...... 10734 Apr '12 _ 10614 10734 Chic & Mo Riv Div 53_1928 J -J
_ 1935 J-1) ---- ---Chic is P W 1st g Is
1921 J -J
10714 95 10534 10999
Cony gold 43
1953 J -D 10714 Sale 10314
C 13 is Puget Sd 1st gu 4s 1049 J -J
Cony 43 (Issue of 1910)_1960 J -D 10.333 Sale 11)2
10334 3211 10014 10434
Dak is Gt So gold 53
1918 J -J
10-year cony gold 5s_..1917 J -D 1.0712 10812 10613
108
28 105 110
Dubuque Div 1st Sf 8s 1920 J -J
. Debentures 45 Series ii.1913 F-A -,„ ---- 9914 J'17 "11 ---- - ---- '
Far do Sou ass= g 6s
1924 J -J
, East Okla Div 1st g 4s.._. 1928 ,11-S 964 -..— 90 Mch'12
98 963-4
LaCrosse is D 1st 5s
1919 J -J
Short Line 1st 45 gold__ 1958 J -J
93 9312 9313
9314
8 9234 94
Wig is Minn Div g 5s
1921 J -J
8 Fe Pres 63 Ph 1st g 5s_ _1942 M-S 10912 —__ 110 Mch'12 ___ 110 11012
Wls Val• Div 1st 89
1920 J -J
Chic & St L 1st is
10638 J'ly '11
1915 M-S 194
1111 is No 1st cons 8s
1913 J -D
Lt1 Coast L 151 gold 45_81952 Ni-S 15 9514 95
9538 46 9433 9678
Extended
434s
Registered
98 Oct '06
81952 M-S 95
Chicago is N West cons 76 _11915
13 Q-F
j-D
Ala Mid 1st gu gold Is __1928 M-N 10734 - —.10858 Aug'11
Extension 4s
1888-1928 F-A
9534 Jan '12
Bruns & W 1st gu gold 4s 1938 J -J
ligs4 -954
9513
Registered
1886-1928 F-A
___
Charles & Say 1st gold 7s 1930 J -J 128 _
General gold 3,14s
1987 M-N
L & N col. gold 45
o1952 M-N 9378 Sale -(1i3-3
937-s 43 6
.
4 -9534'
Registered
p1987 Q-F
Say F & W 1st gold 6s_11/34 A-0 123 12438 12514 Deo '11
General 48
lst gold Is
110% May'll -----------1934 A-0 10953
Sinking fund 8s—__1879-1
7 ‘1-N
19
92
89
A-O
811 Sp Oca & G gu g 4s
9714 100 97 Jan '12 ____ 97 97
1918 J -J
Registered
9133 0153 913
9112 40 9138 93
Dalt & Ohio Prior 3345 _ _1925 J-J
Sinking fund 5s
11 A0
A-0
1879- 1929
9012 9158 9158 May'12 ____ 9078 9155
1, Registered
81925 Q-J
Registered
1879-1929 A-0
9812 74 9734 9914
Gold 45
/11948 A-0 9814 Sale 9814
Debenture 5s
1941 A-0
9818
5 97
9734
9612 9/34 9713
Registered
81948 Q J
Registered
1921 A-0
Pitts June 1st gold:..
1s,_1922 .1 - J 11214 _ . _ 112 Jan '12 __ 112 112
Sinking fund deb Is
1933 11-N
88 8873
' P June 3s M Div 1st g 3-481925 M-N 8812 89 88 May'12
Registered
1933 M-N
9114 13 9099 92
FL E & W Va Sys ref 4s,1941 M-N 01 Sale 91
Frem Elk is Mo V 1st 63_1933 A-0
9114 Sale 01
' Southw Div 1st gold 534g 1925 J -J
9114 32 9034 9112
Mani GB doN W Ist 3 gs 1941 J -J
_ _
Can Ohio ft isle g 4 34s.._ 1930 13-S 1015 --- 103 Mch'10 _
is S L 1st gu 3 34s 1041 J -J
. CI Lor & W con lst g 5s__1933 A-0 10812 10 /12 11112 Apr '12 ...-- 109 111-12
11111 L S is West 1st g 6s 1021 11-S
Monon Riv 1st gu g 5s___1919 F -A 10233 104 10112 May'12 __ 10378 1041.Ext is imps t gold 5s 1929 F-A
Ohio River RR 1st g 56_1938 J -D 10912_ 10933 Mch'12 _ 10913 10938
Ashland Div 1st g 6s1925 11-S
General gold Is
1937 A-0 10313 i1618 10512 Apr '12 __-- 105 1051.
Mich Div 1st gold 88_1924 J -J
Pitts Clev & Tot 1st g 6s_1922 A-0 110 ___ 11312 Feb '12 _ 11312 11312
Spar do N W 1st gu4s_1947 1-S
Mil
97l2
Mch'12
9753
---West
1st
g
4s
1917
J-J
9712
9712
Pitts &
Northw Union 1st 7s g 1917 M-S
91
91
10 91
Stat Isl Ity 1st gu g 4 30_1943 J -D 91 ---. 91
Winona is St P 1st ext 7s 1916 J-D
1937 M-S 11218 _:.. 11213 May'12 ____ 11178 11212
Blatalo R is P gen g 5s
Consol 434s
1957 11-N /038 10614 10714 Mch'12 ___ 107/4 10714 Chicago Rock Is is Pa 6s 1917 J -J
1917 J -J
Registered
All & West 1st g 48 gu
1998 A -0 9713.__ 97 Feb '11
19138 J -J
General gold 48
CI & Mali 1st gu g 5s.._ _ _1943 J -J 108 ____ 103 J'ly '08 -----------1988 J -J
Registered
Roch is Pitts 1st gold 6s_1921 F-A 11299_,.., 11334-Noy'11 ....„
1193324
Refunding gold 4s
9
3 1159
HE75Consol 1st g 63
1922 J -D 115 1151 1153s Apr '12
9
20-year debenture 5s
Butt & Susq 1st ref g 4sd1951 J -J --------_ 72 Mehl()
1914 51-N
Coll trust Series L 45
101
3 102
45 1003So 1st ext 63
1913 J -J 101 11114 101
M 4s
1915 .11-N
2d Is
1913 11-S 13012 Sale 10012 1091- 11 10014 101
P 4s
Registered
1913 11-S ---- ----10034 Jan '11
Chic R I is Pac RR 48
210
Dentral of Ga 1st gold 5a._p1945 F-A 11238 __ _ 11278 Apr '12 ____ 11273 11334
Registered
19338
3 109 1111s
Consol gold Is
1945 13-N 10)14 111 10938
S
99
34
2 1111--N
R I Ark is Louis 1st 434s 2
19
Registered
1945 M-N --- --- 10712 Noy'll ___ ____ ____
CReRgis4teNreTlst g 5s_ _1934 A-0
1st pre( Income g 5s__p1945 Oct -- --- 103 Dec '11
Bur
106121May'11
Stamped
-°
0
C R I F. & N W 1st gu 5
'34
21 A.8
19
• 2d pref income g 5s____p1945 Oct103 Dec '11
M & St L 1st gu g 7s
1927 J -D
_
_ -------- 98 Noy'll
2d pref income g 55 stamped
• Choc Ok is G gen g 5s_o1919 J -J
3d pref income g 5s____p1945 Oct- -------- 107 Dec '11 ____ ______
Consol gold Is
-------- 8513 Oct '10
3d pref sncome g 55 stamped
Heeds is Des M 1st 5s
A-N
O
92
53
2M
19
Chatt Div par mon g 4s__1951 J --r) 90 - 9112 911. Apr'12 ____ 8933 9112
& 0 con 65_
1930 J
' Mac & Nor Div 1st g 5s.._1946 J -J 10714 110 10714 Jan'12__ 10714 10714 Chic St P
Cons Os reduced to 3 gs 1930 J -D
Mid Ga & Atl Div Is_,,1947 J -J 10558 _-- 115 Nov'05 __._ -___ -Ch St P is Minn 1st g 6s1918 M-N
1940 J -J 10812 ____ 10934 May 11
Mobile Div 1st g 53
Nor Wisconsin 1st 63
1930 J -J
Den RR & B of Ga col g 58_1937(11-N 10211 103 1021214837 12 ---- 10212 iiii
St P & S City 1st g 6s_
1919 A-0
12033
1 12033 12234
1987 J-J 12338 Sale 12.133
Cent of N J gen'l gold 5s
Superior Short L 1st Is g_1930 11I-S
Registered
81987 Q-J 120 12.119t 122 May'12 __-_ 12112 12214
Chic is West Ind gen g Gs_ q1032 Q-M
Am Dock & Imp gu 5s___1921 J -J 108 10634 10612 May'12 ...... 10818 107
Consol 50-year 45
1952 J-J
10212 May'12 _. 10212 10212
Le & Hud 1.4 gen gu g 58_1920 J-J 10213
Cin H is D 2c1 gold 41s,,,, 1937 J -J
Leh & Wilkes-13 Coal 58_1912 31-N 100 .__- 100 Apr '12 --__ 100 100
1st 61 refunding 45
1959 J-J
NY & Long Br gang 4s_1941 M-S 98 ____ 100 Dec '11
.1119/1 n_ w
ant.
n11.
011
s
an
(191.
1st guaranteed 43
1959 J -J
Bid
Ask Low
High No.
10013 101 10034May'12 ___
10034 10134 10034 May 12 ___
10214 10234 10258 Feb '12
10214 1021, 10234 May'12
11414 11434 11414
11414 15
11414 11434 11414
11414
1
10014____ 10012 J'ne'll
10153 102 10173 10178
6
CanC
Price
Fruiny
June 7.
Range ;
ItW
angeek'or
Since :
Las:
Jan. 1.
---Bid
Ask Low
Rion No Low High
10;12 102 May'12
_ 102 10413
11013
I tul. 11 10912 11134
III May'12
110 11114
10014 Sill" 10014
10.04
10014 103
9914 1004 9933 Noy'll
0314
0318 9.114 92/8
9234 -(if
8614 89 89 Apr '12
874 88
86 8999 88123•ne '11
10134 ___ 10134 May'12
10134 fais;
84 ___ 84 May'12
84 8634
9312 96
94 95 May'12
8812 ____ L214 J'ne'11
13134 ____ 11314 Feb '05
9118 _
95 Oct '19
"i6371
71, 71
,7114
4 72
6.814 Sale 6034
6314 86 6014 6512
1 9034 100
100 Sale 100
100
5 87 88 i
87
87 Sale 87
8512 8513
80 ____ 8512 Apr '12
9814 Sale 9812
t(87) 12 0812 10013
99
9914 9912
9914 Mch'12
1047106 105 Apr '12
10475 105
9914 9988
99 99 May'12
9812 9952
97
9:
:
11
9
98:: 171:1121
9953 __ 9918 Dec '1 i
10034 Sale 10012 10034
96 Sale 9534
96
gm,
7078 twit, 7978
12238 12312 123 May'12
1,19
.12
10/12 100 101
1)3914 Feb '12
10812
_ 10812 May'12
7934
7912
7,1'8 84
12612 127 12612 12812
11012 ____ 11034 Apr '12
9418 9658 Apr '11
9012 Mch•12
86 8/
9034 9312 9158 May'12
Oc
acy'1112
102
418 rd
7 10012 10153
61 9534 9714
13 7912 8113
123 125
10818 11118
111914 10914
10812 10912
2-L 7912 83
12612 12012
11034 11034
8813 9O1
9012 9152
110134 Nil;
98 Sale 98
9814 lb 98 9913
9712 98
9712 9818 9712 Apr '12
86
8514 Sale 8514
8678 867
8412 _ 86 J'ne'll
9014 9 3, 9014
00 9299
9014
1021- 35: 10134 10334
10212 Sale 102
10614 108
10618
10614 Apr '12
1,)8 10812 108 May'12
108 10834
10578 106 10.973
10378
1 10578 10653
93 9514
i&Ig 10
10234 103
93
314
4 11013
2738 11
M1:Y:1!
1L34_. 11314 Apr '12
113 11353
115 ____ 1173 Aug'11
10478 __ 10434 Apr '12
11i412 10434:
10618 _
10618 May'12
108 10833'
11234113 11234 Mch'12
_ 11234 11234
10158 ____ 10134 Deo '11
144 Nov l
00
73
10014 _ 19
107 10133 10718 May'12
1071 idi";
9658 ____ 98 Mch'12,
9714 08
Sitia' 85
85 .
'W."if
84 8,
8412 May'122
8412 8684
97i, 21, 9713 9834 •
0
9:
171 Sale 9712
11012 ---- 11134 Nov'll
11012 ____ 11114 NOY•09
10512
10678 Shy'12
16673 kW%;
10458 ____ 10373 Dec '11
104 10412 10412 May'12
10513
10412
103 ____ 10612 Feb '10
197 ..„ 10812 Meh'12
10813 WI;
10513 ____ 10734 Aug'11
1261 12612 12718 Mch'12
1271k 1271
9012 Sep '09
- 86 4
11-314 11412 1143;
ii"
109 110 :
10.,14 ____ 109 May'12
14252 Feb '02
11612
May,'112
11113
64
1183411634
21. 9358 04
Sale 191383344
112 _
115 J'ly '11
111 11112 11.134 Aug'11
108 ___ 10814 May'12
10814 i6173
103
_ 109 Aug'10 _
95 Sale 95
96
13 95 "itifs
1.434 DIS
95l4 31c5'12
95 96%
88J4 Sale 8853
80
67 88349034
9412 904 94
94
1`.. 93 9453
Oh•
0
96
73
14
2S
Neopv 111
_661_2
0434 J'ne'll
Sale
27 67 7314
_is _ 81354
7 9 Mch6•91
152
7134 7234
9112
9112 Apr '12 ___ 9112 93
11012
11012 May'12
11012 11113
12012 Meh'03
_
____ 10514 Sep '11
103 10313 i161
03-4 A
mu
a-1y
C12
11
107
101 10138 10012 May'12
12212 123 12258
123
89 ____ 93 Deo '03
123 Alay'12
12958 MaY'09
110 iii 11034 May'12
108 _10812
00 9034 90 May-12
101 1C11 Mch'12
idi" 10834
100 10114
18 12258 124
Hi- 12313
ii6(4 11113
108 1687,4
po 921s
101 un,
278 89 May'11
MISCELLANEOUS BONDS—Continued on Next Page.
Street Railway
Brooklyn Rap Tran g 5s_1945 A-0
1st refund cony gold 45.._2002 J-J
Bk City 1st con Is 1916-1941 J
Bk Q Co is S con int g 5s..1941 n-N
Bklyn Q Co & S Ist 53_1941 J -J
Bklyn Un El 1st g 4-56_1950
Stamped guar 4-5s____1950 -A
1949 F-A
Kings Co El 1st g 48
1949 F-A
Stamped guar 4s
Nassau Elm guar gold 4s_1951 J -J
Conn Ry& List is ref 5 g 4 50;51 J -J
Stamped guar 4 gs
1951 J -J
Det United 1st cons g 4 34s 1932 J -J
•FtSmIthLt & Trac istg 5s_ 1936 1‘1- S
Grand Rapids By 1st g 5s 1916 J -D
1952 F-A
Havana Elec consol g 58
Interboro-Metrop coil 4 46_1958 A-0
N
Interboro Rap Tr 55 Ser A_1952
leNo price Friday; latest this week.
10512 Sale 10513 10512 17
9012 419
0014 Sale 89
10212 _
10212 10212
1
9914 97 Nov'll
100 _
4
4 1,511g
10114 Sale 10131021(
10213 Sale 10134
8112.... 8534 May'12
3
8458
8112 84% 8412
2
79
79
10178 19178
3
10112
2
10113
10118 10134
f41 2 7838 7812 2
_
9312 93 Apr '12
10014 Mch'12
100
_,_ 6614 9938 Apr '12.82
241
8178
:Sale 81)2
10413 101,5 10453 10478 34
4 Duo April.
Street Railway.
103 10512 Manhat By (NY) cons g 4s_1990 A-0
Stamped tax-exempt___1990 A-0
8373 9058
10112 10212 Met St By gen eon tr g Is,, _1997 F-A
Guaranty Trust Co certlfs_ —
_
2002
Refunding gold 4s
Farmers' Loan is Tr ett..-1(5138 10314
Stamped
10112 10212
Bway & 7th Av Isto g 5s_1943 J
8312 8534
Col is 9th Ay 1st gu g 53_1993 13-S
8412 86
Lex Av & P F 1st gag 56_1993 31-S
78 81
Third Av RR cons gu 43_2000 J-J
101 10178
_
Central Trust Co certs
10112 10178
Cent Tr Co cts stamped
7838 7038
Third Ave By 1st g 5s__ -1937
93 93
10014 10014 Met w s El (Chic) isIg 451938 F- A
99 9934
Elec Fly is Lt cons g 581926 F-A
Refunding is exten 434s1931 J -J
8012 8412
10318 105
a Due May. 8 Due July. k Due Aug. o Duo Oct.
9812 9634 9611
9638
9912 9812 97
9718
102 Mch'12
99 ___ 99 May'12
64 May'12
---- -- 62 Mch'12
5933 Mch'12
10312
10378 May'12
10212
10212
10212
100/4 103 1,/212 May'12
81 80 Jan '12
73 May'12
73 May'12
7_2 10912 108 May'12
9312.rly 0)3
10114
10412 Dee '11
94 ____ 9512 May'12
p Due Nov.
a Due Dec.
2 9614 98
37 9812 9813
91)12102
97 10353
5312 64
5713 6214
5758 82
103 10412
10112 10318
- 102 103
80 80
73 8118
7214 8114
108 11013
.•••••••
76
'
; jai
a Option isle.
JUNE 8 1912.1
1553
New York Bond Record--Contin ed—Page 2
11
Range
Week's
Pries
.1
Range
Week's
BONDS
Since
Range or
Friday
Since
Range or
N. Y. STOCK EXCHANGE
Jan. 1.
Last Sale
Jan. 1.
Week Ending June 7.
Last Sale '
f3, June 7 ----4'co
----—
—
Low High
High
Ask Law
Bid
High No. Low High St P M & M (Continued)—
Ask Low
Bid
Gin Ham & Dayton (Continued)
1
9
u8
253
123
Maenh:12
9212
Pacific Est guar 4s £_ _ _ _1940 J-J
Cie D & I 1st gu g 5s_ _ _ 1941 M-N 10212 __ 10212 May'12 ____ 1(1212 10914
0612 9812
983;
97
48
g4s19
E
A-0
Minn
_
_
Nor
Div
1st
_. 87 88 Mch'll
• C Find & Ft W 1st gu 4s g 1923 M-N
11478 110
11514 May'12
116
-8;-1-2
Minn Union 1st g 63_1922
8712 — _ 8712 May'12
Cin I & W 1st gu g 9s_ _ _ _1053 J -J
127 12714
2
16
37
614 May'0
Mont C 1st gu g 6s___1937 J -3 125 _ _ 12
Day & Mich 1st cons 4
1931 J -J
- -- —
J-J 12412
Registered
10412 10412 it; 104 10412
Ind Dec & W 1st g 5s_ _ _ _1035 J -J 10_1
--- -1st guar gold 53
10712Dec '02
1
193
9377 J - J 11134 119' 11234 Sep '11
1st guar gold Is
1935 J -J
-- _
J-J
12 9314
02.18 29 -6fRegistered
02
Cleve Cin C & St L gen 43_1993 J -D
ll2l2Sep '11
Will & S F 1st gold 5s_1
0358 4 9353 041:
19
93
37
8 J-D 11314
8 9412 9338
Cairo Div 1st gold 4s_ _1939 .1 J 93-593
- 95
111
Gulf & S I 1st ref & t g 5s _ _b1952 J-J
921, 9334 May'12
90 90 May'12 _ 90 93
; Cin W & M Div 1st g 4s 1991 J -J
J-J
90 12 8978 931: Registered
• St L Div 1st col tr g 4s__ _1990 M-N 90 9034 8973
101 103-,
10114
_ _ _ 102 101
19
952
99 J -3
2
91 Oct '07 ---- ------ Trock Val 1st cons g 4 A36
.Registered
1990 M-N 89
10012Sep '08
—
xi. Reglstered
1999 J-J
, Spr & Col Div 1st g 4s..„1990 M'S 90 --- 90 Dec '11
'11
Dec
Col
&
-974
9412
H
91
-6511
1948
V
__91
A-0
1st
ext
g
4s
'12
Apr
9212
91
90
• W W Val Div 1st g 4s_1940 J -J
8961*
-6612
Col & Tol 1st ex 4s
_ 0
148 Jany412
9
,
63
F-A 91
1920 M-N 10534 ____ 10534 Dec '11
0 I St L
C consol 8s
9912 9934
lions Belt & Terns 1st 53_1
9934 10112
97 Mch•12
19
9375
, 9618
5 J-J
k1936 Q-I
let gold 95
r Illinois Central96 97 9718 Dec '11
k1936
Registered
10212 104 '
J -J 10012 ____ 10212 May'12
Cin S & Cl con 1st g 5s___1928 3-J 10638 10718 10718 Feb '12 ___ 1O71 10718 1. 1st gold 4s
_
100 Sep '11
1951 J -J
10612 Mch'12 __ 10512 105.•
Registered
1919 J-1) 105
CCC &I consol 78
9090
1st gold 334s
1951 J -J 90 __ 90 Apr '12
Consol sinking fund 78_1919 J -D
8912'
Registered
3-2 89 El: 89 Apr '12
Nati ApI.0
General consol gold 6s_1934 J - J
Extended 1st g 334s
_
A-0 90 ____ 9312 May'09
1951
19
1934 J.
Registered
Registered
19
A-0
51
A-0
00
___
-94
Jely'08
_1940
/nd ill & W 1st pref 4s__
1st gold 3s sterling
_
1951 /11- S
_
_
-ad95
_
0 Ind & W 1st pre 5s__d1938 Q-J
Registered
1 951 /11- S
1940 A-0 0034 91 -9034 Ma-y•12 ____ 9012 92
Peo & East 1st con 4s
9717
-6/1; 100
Coll
trust gold 98
1
35
4679
1052 A-0 -£71-42 -66- 9,1.7
4312
43
43
Apr
40
1990
Income 45
Registered
92 581- •
1952 A-0
9812 Aug'11
1947 J -J
46 48 47 May'12
Col Midland 1st g 4s
1st ref 45
18 95 9608,
1955 Id- N -E34 Sale
9514 7 95 97
Colorado & Sou 1st g 4s__ _1929 F-A 95 Sale 93
811,
Z.
4.i
1 Feb''
Purchased lines 3%is
'
612
1952 J-J
9634 21 9653 9818 L
• 1935 NI-N 9658 9634 9612
8613
Refund & ext 4 %is
N 0 & Tex gold 4s
97 9913
1953• N
-6T3-4 9,38 May'12
1921 -D
111 111 May'12 ___ 111 1121:
• Ft W & Den C lstg 6s
9434 Jan '11
Registered
1953• N
Conn & Pas Rivs 1st g 48_1943 A-0
Cairo Bridge gold 4s
95 95
2-I) 0412_ 95 May'12
1952 J -J
Ma-y-'15
Cuba RR 1st 50-yr 5g
Litchfield Div 1st g 3s_ _ _ 119
79
'16 7518 Sep '11
057 J - J
j-Nel Lack & Western—
Louisv Div & Term g 3 hs1953 J-J
WI;
8414 8578 8638 May'12
Morris & Essex 1st 7s_1914 11-N 105 ____ 10558 Apr '12 .._ 10558 106
Registered
1953 J -J
1015 J -D 10734 109 10734 May'12 ____ 10734 10918
8312-- 8314 Nov'10
- 1st consol guar 7s
Middle Div reg Is
1921 F-A 10534 - - 123 May'99
Registered
1915 .1-D 108 ___ 11138 Dec '10
1951 F-A 7312 fg 75
2
75 75
612 m
Ap
ch
r '42
Omaha Div 1st g 35
2000 J -D 85 ____ 90 Mch'12 --__ 90 90
1st ref gu g 35s
74 77
St Louis Div & term g 3_1951 J -J
7512 7513
NY Lack & W 1st 6s1921 J -J 11218
112
112
1 112 11414
1951 J -J
Registered
7333 7438
Construction Is
•
1923 1,-A 106 107
_-34 10734 May'12 • _ _ 10712 10734
1951 J-J
3
85 8638
Gold 3%is
8534 -i(r;
Term & Improve 43_1923 111-N 95 99 98 Dec '11 ___ ___. -__ _
1951 J-J
0E
13
18
4o
Ac
it:19!
8412 — i
Registered
• Warren 1st ref gu g 3 30_2000 F-A 85 __ 10218 Feb '03 ____
Spring Div Ist g 33is _ 1951 J-J • 85 66 100 Nov'00
1917 NI- S
1.1
1 11512 Aug'11 ____ -—--—___
Del & Hud 1st Pa Div 78
---83 86
1051 J-J
Registered
Registered
1917 M-S --------- 149 Aug'01 _
9417 1
761
1951 F-A 94 96 9412
Western lines 1st g 4s_
10-yr cony deb 45
1916 J -D 98 Sale 98
0818 11! 9712 99
F-A 94 ____
Registered
10118 1011; 6 101 10134 Bellev
let lien equip g 4;is
1922 J -J 10114 _
11713
May'10
112
J-1)
&
Car
3
4
1st
65
ref
48
1st &
1943 M-N 99 Sale 09
0912 30 9812 993, Carb & Shaw 1st g
98 06
92
5
32
3•
1
96 May'12
S 94
4s__ _199
Alb & Sus cony 3 34s
0017 6 9014 93
1946 A-0 9012 Sale 9014
11412 110
Chic St L .5: N 0 g .55_ ,,_1951 J -D 114 118 11412 Apr '12
Rens & Saratoga 1st 76_1921 i'll-N 1207 12114 12112 May'12 .___ 12113 121l,
11312
Registered
J
-D
Feb
'11
114
Denver & Rio GrandeGold 3 %is
J -D 84 -- 90 Oct '09
8517 87 84t2 91
1936 J-J 85 Sale 8412
1st consol gold 4s
Registered
J -D
1936 -I - J 97 98 9812 May'12
' Consol gold 4 %is
/tempts
Div 1st g 4s-- - 1111009955551111 J-D -till;
-971-2Mc-h-q5
991
8
9
1
1
;
9
Feb
'12
____ 96
8
• Improvement gold 5s___ _1928 J -D -- __ 97
19311
Registered
J-D
86
114 8434 90
1955 F-A 86 Sale 8434
let & refunding Is
St L Sou 1st gu g 4s
1931•S 93
Rio Cr June 1st gu g 5s 1939 J-1) 105 112 10434 Mch'11
9334 94- 9338
J -J
93
4 -Hai -661040 J-J ._ _____ 6112 Apr '11 ------------ Ind Ill (5c Ia 1st g 4s
, Rio Gr So 1st gold 4s
Int & Great Nor 1st g: 6s
los 10E02
19
5919
0 M-N 108 Sale 108
108
85 Mch'08
1940 J -J
Guaranteed
Iowa Central 1st gold 53-1038 J -D
100
1 100 10212
10,1 100
8514
4 Yale 85
Rio Cr West 1st g 48_ _ _1939 J -J i81
Refunding
gold
641
:
43
19
51
64
May'12
63 6612
MS
66
-8
i
8:5
1
i
8
-7
i
8
g
79
Mtge & col trust 43 A 1949 A-0 7834 Sale 7834
jamestown Franklin-74
97 Jan '02 —
Utah Cent Ist gu g 4s_a1017 A-0 ..._
0
Clearfield
J
-D
1959
May'12
1st
9434
94
94 9;12
4s
*.,,
11-N
110
99
___
Sep
'04
__
----5s
1017
Unity
Mot
1st
g
Dee
24 72 74 4,
72
---- --- jran City Sou 1st gold 3s_1950 A-0 7134 7211 72
Dot & Mack 1st lien g 48._ _1995 J -D 9212 95 92 Nov'll
1950 A-0
9212 May'12
-iki- -ii-1-7 IX Registered
1005 J -I) 9212 _
--f
- 63 Oct '00 -Gold 45
Ref
ids:Ili I
impt Is
97 9812 9812
J-J
9834 30
Dot Rlv Tun Det Ter Tun 4 tis'61 3i-N 9912 100 100 May'12 __-_ 9912 10078 Kansas.5:City
96
50 J-J
Term! 1st A
19
9634 Sale 9834
4s __1060
1814 it; 9634 9834
76 Feb '12 ........ 75 75
Del 1' & 1-0 S Div 1st g 4s1941 M •S
10812 110 '
I ake Erle & W 1st g 58_1937 J -J 105 10034 10934 May'12
07
6
0618 10
Dul Missabe & Nor gen 5s 1941 J -J i.O6 - fad - 106 Apr '1? _ 10
I-A 2d gold 5s
104 10414'
1041 J -J 109 105 104 May'12
1037 A-0 10518 10612 10518 May'12 -.:
Dul & Iron Range 1st 5s
North Ohio let gu g 5s
105 1054
1945 A-0 10914 10612 10514 May'12
10612 Mch'08
1937 A-0
--- — • Registered
Leh Vali N Y 1st gu g 4 3.15_1940 J-J ..— 1051: 10538 Apr '12 ._
10514 106
- .7::-_ 104 Feb '11 ..---.
---1916 J -J ifi.118
• 2d 6s
10412 10912
Registered
1940 J-J
10913 May'12
Dtd So Shore & All g 5s_ _ _1937 J -3 109 111 108 Apr '12 __ W.idi Lehigh Vail (Pa) cons g 48_2003 M-N
97 0814:
-if7g 9814 May'12
igin Jot & East 1st g 53_1941 n- N 11038 __ 11218 mar1:2 ___ 11034 11217 Leh V Ter By
11314 119
114 May'il
let gu g 58_1941 A-0 iri14
'Lurie 1st consol gold 7s___ _1920 M-S ___ 11'734 11714 May'12 ____ 117 1185s
_
,
11058
11118
Dec
'11
Registered
A-0
-1
0
4
1
1
4
.......:
2J
Ain
ch
e412
1 ...........
N Y & Erie 1st ext g 9s-1997
94
33
1 J -J 108 169- 108 Nov'M
Leh V Coal Co 1st gu g 53_ 19
111-N
S i53-7-8
1919"
2d ext gold Is
J-J
Registered
10212 Mch'12 ___ 1021310234
1923 n-s 101
3d ext gold 4 yis
1st
3
int
93
33
9
J-J
reduced
to
1
4E1_
1920 A-0 10312 10459 105 Feb '12 ..--- 10
4th ext gold Is
(55
4;16
05
i114
Leh & N 1 1st guar g 9_s_ 1945 111-S
938 U41
5th ext gold 4s
1928 J -D 06 101 100 Jan '12 ___ 100 100
Registered
-1945 M-S
NYLE&Wlstirtd 73_1920 NI- S 11512 11712 11614 May'12 ____ 11614 11612
Feb
'1
ioll
2
ioiEl
'
&
N
A-0
1st
pre!6s
8978 ..13 8812 90
!• Erie 1st con g 4s prior_.,.1996 J -J 897$ Sale 8934
fa"103
Mcii'l`
Gold guar 55
A-0 1004
88 88
86* Apr '12
89
• Registered
1996 J -J
7814 79
7858
79
30 7773 7934 Long island•
1st consoi gen llen g 4s-1996 J - J
10934 11033;
1st
consoi
gold
10918 110 110 May'12
Is
77 Apr'12
1996 J-J
Registered
9614 8514'
1st consol gold Is
95 _ _ 9614 Mch'12
2-2
J
9034 302 8
78
718 9
771
1951 F-A 90% 9034 9034
Penn coil tr g 4s
9412
9113
941
94
General
9418
_
_
gold
J
-D
9413
48
3319993
3
38
11
8612
86
88
86
8253
A-0
50-year cony 45 A_,,_1953
Ferry gold 434s
98 98
1922 M-S 9814 100 98 May'12
79
63 7514 807.
Series B__1953 A-0 7834 Sale 7812
do
Gold 4s
1932 J -D 91% 97
9914 Oct '06
Buff N Y & Erie 1st 7s1916 J -D 10914 111 110 Apr '12 __ _ _ 10834 11034
Unified gold 95
951r 4 92 95I
1949•S __-_ 97 9312
Chic & Erie 1st gold 5s_1982 lla-N 11114 112 112 May'12 ____ 112 114
Debenture goid Is
J -D __-_ 104 1041.Dec '0
Clev & Mahon Val g 5s 1938 J -J 109 __. 109 May'12 ____ 109 109
Guar ref gold 4s
- -tif14!
194
34
9 I11-S -- 96 97 - May'12
Q-J 108
Registered
Registered
95 Jan '11
M-S
,
12 . 12334 12-91-2
9:3
4 A-0 12412._ 12412 M84
Long Dock consol g 68_ 19
NI B&MBletconglis!9
4 11014 Nov'06
935
49 A-0 105I 15/1Coal & RR 1st cur gu 63_1922 M-N 10614 ..—_ 106 May'12 ____ 106 107
103%1041: 105 Apr '07
1927
NY &R 13 lstg 5s
Dock & Imp 1st cur 6s 1913 J -J 10118 ____ 10134 Mch'12 ____
1561iiöii
10714 Jan '12
Nor Sh B 1st con g gu 53.01932 Q-J 10534 •....,• N Y & Green L gu g 5s.1046 M-N 10258 105 105 May'12 __ 105 - 105
93
93 May'12
Louisiana & Ark 1st g 5s
1927 61-S
WS'
• NY Sus & %V 1st ref Is....1937 .1-J ___ 10334 10412 Apr '12 ___ 103 105
Louisville & Nashville—
1937 F-A 82 ____ 10014 Dec '06
2d gold 4 %is
114 11712!
_ 11412 115 May'12
1930 J -D
General gold 63
1940 F-A 86 90 87
87
1 'if'-66General gold 58
11112
112
_ 112 Apr '12
1937 M-N
Gold Is
Terminal 1st gold 5s 1943 hi-N 10958 .... __ 10812Deo '11
62 8834 8853
99
99 Sale 99
1940 J -J
11112 May'12
:
Unified gold 43
_ ifil-2 fill:
Mid of N J 1st ext 5s___ _1940 A -0
98% 98%
J-J
1992 J -D 9934 Sale 9934
Registered
9814
- 9838 Apr'12
0934
Wilk & Ea 1st gu g 5s
7 9931 1021:
10852 11012
1930
1 M-N 10712 ssu 10858 May'12
Collateral trust gold 58_294
1926 J -J 106_
106 May'12 ___ 106 106
& Ind 1st con gu g 6s
111%
111
May'12
110
111
115
J-D
E
H
&
Nash
1919
1921 J -J ___ 1113-4 11112 May'12
1st
g
6s
Evans & T H 1st cons 6s
111121123s
10434 May'12
104% 105
L Cln & Lex gold 4 %8
1931 M-N 104 _
1942 A-0 102 10258 10258 May'12 ____ 1.0178 10258
1st general gold Is
121 121
1930 -J 121 125 121 Meh'12
N 0 dc M 1st gold 6s
1923 A-0 10778 -__ 108 Nov'll
Mt Vernon 1st gold 6s
11712 11712
11712Jan '12
N 0 & M 2d gold 63_1930 J-J 117
Still Co Branch 1st g 53_1930 A-0 95 ___ 95 J'ne'08 7,2 - -.. -. - - --„-- 96 96
Paducah & Rem div 4s_ _1946 F-A 9934 -9534 95 May'12
lorida E Coast 1st 4 34s 1959 J-1) ____ 97 9734 Apr '12 ___ -97 - -995s
Pensacola Div gold 6s
1920 M-S 105 10714 1053411101'11
ort St 13 D Co 1st g 4 Hs_1941 J -J
90 _ — 92 Aug'10.._—
-113
113
May'12
113
St
1121211:31,1
Louis
MS
63_1921
Div
1st
gold
W & Rio Gr 1st g 4s_ _1928 J -J _ 80 8112 Jan'
1
12
2 ____......
2d gold 33
1980 M-S 69% 7218 6918 May'12
6918 8934
-0
89
11;1
-00
811i
al H & H of 1882 1st 53_1913 A-0 ii12 100 100 May
921 12 92 93
Atl Knox & Cin Div 48_ _1955 111-N 9212 Sale 9218
reat Northern—
112b11212
J-J
9058 289 96 0853 Atl Knox & Nor 1st g 5s_1946 J -D 11214 115 11212 Marl
9512 Sale 9612
°B & Q coil trust 4s
1921 Q.
j 9613 _ _ 9614
Hender Bdge 1st a f g 63_1931 1M-S 105 ____ 106 Apr '11
9612 81 9611 984
Registered
1921
9438
9334 95
Kentucky Cent gold 48..1987 3--I 94 95 94
14 10018 10153
let & refund 4345 ser A.._1961 J j 10034 Sale 10034 101
10414 10412
L & N & td & Ni 1st g4 34s1945•S 10412_ _ 10412 May'12
Registered
1961
8912 898s
_ 6617 8918 May'12
1933 tili "figi
s "isi" -661-2 Mt;57.1* -_-_:: -98i-2 -663-4 L & N-South Ai joint 4s_ _1952 J-J
St Paul M & Man 48
05 Feb '05
Registered
12534 May'12
12512 12534
Q-J
1st consol gold 6s
1033 J-J 12312
4
10912 ig84 10912 May'12
N Fla & S 1st gu g 5s_ 31952_ 1937 F-A foil; 1061Registered
132 Apr '09
1933 J -J
4 -8 i6E1-2 N & C Bdge gen gu g 434s 1945 J-J 103
Reduced to gold 4 3481933 J - J .
10734 ilifi, 1O458 10434 -11 ifii5112 112
fir mci2-11Pens & At! 1st gu g 63_1921 F-A 11018
Registered
1933 J - J 10314 _ _ _ _ 10834 J'ne 09 _ _ ._
1109411154
S & N Ala con gu g 5s___1936 F-A 1101811053 11078 May'12
Mont ext 1st gold 48_1937 J -D 9734 Sale 97
9734
2 -15i
.- -0114
9114 9114
Registered
1937 J -D
08 J'ne '11 __ __ ---- L & Jell Bdge Co gu g 9s _1945 M-S 9114 ____ 9114 Men'12
BONDS
N. Y. STOCK EXCHANGE
Week Ending June 7.
Price
4Friday
June 7
5,
-
E
F
G
MISCELLANEOUS BONDS—Continued on Next Page,
Street Railway
trInneap St 1st cons g 5s___1019 J -J
New Orl By & Lt ten 4 34s_193 J-J
N Y Ryi 1st B S & ref •Is temp J -J
Temporary ad' 1n0 5s_____ _ A-0
Portland By 1st & ref 5s-1930 ZA-N
Portland Gen Elec 1st 5s__ _1935 J
St Jos By L, H & P lstg 551037 M-N
St Paul City Cab cons g 5s__1937 J -J
Third Ave 1st ref 4s ars
Adj Inc 5s Interim cas
Trt-City By & Lt 181 f 5s-1923
Underground of London 56_1920 M-N
1938 J -J
454s
1948
Income 65
Union Elm (Chic) 1st g 5s 1945
United Rye Inv 1st lien coil
1926 31-N
trust Is Pitts issue
Street Railways,
United Rye St L 1st g 43_1939 J-J
10112 102
Louis
Transit gu 5s__1929 A-0
St
8412 8812
7734 8158 United RRs San Fr s f 4s__1927 A-0
5112 5912 Va Fly & Pwr 1st& ref 5,3_--1934 J -J
99 99
Gas and Electric Light
Atlanta G L Co 1st g 53 ___1947 J-D
98 NOV'T);
Bklyn
U Gas let con g Is_1945 M-N
100
106 ____ 106 Feb '12
---- -Buffalo Gas let g Is
1947 A-0
134 88
8i148238 31 D5
8214 Sale 13178
1932 J-J
737 252 7034 8014 Columbus Gas 1st g 58
7358 Sale 72
Detroit City Gas g 55
1923 J -J
98% Sale 9818
9814
4 9753
Del Gas Co con 1st g 5s
1918 F-A
98 Apr '09
-61- 9653 Det Edison 1st coil In 53_1933 J -J
---- -9614 9512 May'12
Eq GLNY 1st con g 5s
1932
-86 89 89
Gas & Eiec Berg Co c g 5s 1949 J -D
May'127
41 ---90
84 Oct
'08 ---- ---Cr Rap G L Co 1st g 58
1915 F-A
1999 M-N
8212 85 8334 May'12
8334 8012 liudson Co Gas 1st g 5s
Kan City(Mo)Gas 1st g 5s 1922 A-0
102 ____ 102 May'12 ._.
85 8712 8712 May'12 ____
7858 225
7838 Sale 7734
5214 Sale 5112 5234 280
9038 ____ 99 Feb '12 ___
No price Friday; latest bid and asked this week.
a Duo Jan.
5 Due Feb
d Due April.
3 Due July.
77
8134
6634
—
7812
86
6738
9638
7612 May'12
85 Jan '12
67
67
96
96
104 ___
Mfg;
10758 10778
- iliff2
6112 03 6112 May'12
4 1003.
16638 for iO629558 Sep '08
10113 _
10112 May'12
105 107 107 Apr '12
6113 Oct '01
103
99 ____ 100 Oct '09
10414 ---- 105 May'12
9934Jan '1
----
7612
85
1 08
2 98
80
85
70
9714
3
60
63
Rif
Mils Nil;
106 107
gals 9984
3 Due Aug. 0 Due Oct. I OpUon sal&
1554
BONDS
N. Y. STOCK EXCHANGE
Week Ending Juno 7.
New York Bond Record-Continued-Page 3
R
Price
Friday
June 7
1
3.3
.
Week's
Range or
Last Sale
l‘g
A
al''
Range
Since
Jan. 1.
13101NDS
N. Y. STOCK EXCHANGE 'E
....a.
Week Ending June 7.
[VOL. Lxxxxiv
Price
Friday
June 7
Wcer:
Range or
Last Sate
.0s1
gA
al"
Range
Since
Jan. 1.
Bid
Ask Low
High No. Low High NY C & H R-(Con)
Bid
Ask ‘ ,
High No, Low HO
Affantia 11R-Sou Ones 43_1936 11-N ____ 88---__ ____
West Shore 1st 4s guar_ _2361 J-J
993810
9934
9978 25 9934 101
3.3-3eXtean Cent Inc g as tr reets.
9'712 98 9712
_ -2512 Apr '09 _--- --.. -__
2361 J -J
Registered
08
15 97 9811
Equip & coil g 5s
1917 -A---ci -_-_--__-___
____ ____ ____ __
N Y Cent Lines eq tr 4 30 1923 J-J ____ __ 10012rly '11 ---__ _.
Mex Internet 1st con g 4s_.197? 31-S
.
-17 Meh'10 --- -- ___
N Y New Haven & HardStamped guaranteed_
1977 M-S -------- 79 Nov'10
....:
1955 J-J 92 ____ 92
Non-cony deben 49
92
92 92
Minn & St L 1st gold 7s_....1021 J -D ___.12912 129 Feb '12____ 129 - 129
1956 M-N - 92 9112 May'l? ----9112 9313
Non-conv 4s
Pacific Ext 1st gold Os__ _1921 A-0
_ 111 11018 Aug'11 __ __ __
9112
Cony debenture 3 10
1956 J-J 90 91
9112
1 90 9438
, 1st cense! gold 5s
1934 M-N - _ 10134 1.134 May'll ____ 10112 105
1948 J-J 129 Sale 128
129
Cony debenture Os
26 128 132t2
1st and refund gold 43_1941.3 11-S „.... 60 6112 May'13 ____ 6112 6978
Harlem R-Pt Ches lst 43_1954 51-N 9918 _ _ 9913 Apr '12 ---. 9918 9913
Des M & Ft 1) 1st gu its_ 193r, J-J ____ 7814 78 May'12 ___ 78 81
Cent New Eng 1st gu 4s_1901 J-J ........ 923, 9258 May'12 ---- 0258 9358
96 97 97 May'12 ___ 9634 9734
M StP&SSM con g 4s int gu.1938 J-J
Housatonic 11 cons g 5s_ _1937 M-N 115 ___ 115 Mch'12 -- 114 115
M S S M & A 1st g 4s int gu_ /926 J -J
9614 ____ 0614 May'12____ 9614 9614,
N YW'ehes &Hist ser I 4 30'46 9 -J
116 98 100
0078 Sale 9973 100
Mississippi Central 1st 53_1949 J -J 33434 --- - 9812 31313'11 ---, -,- --,N H & Derby cons cy 5s_191$ 31-N 10212 ___ 107 Aug'09 -- ____ ___
Mo Han & Texaslst gold 4s1990 J D 95 Sale 95
9518 83 9434 97
New England cons 5s
_
__,..
1945 J -J 115
____
g1990 F-A 80 81
, 2d gold 45
8034
8012
a 80 8418
Consol 4s
2 Meb-•-0. ---- -9912100
9958 _ _ 9911945 J -J
102
1st ext gold 55
1944 34-N_
1. 101 10212
--- 102 102
Providence Secur deb 45_1937 M-N 80 85 87 May'll ---- _ _
' 1st & refund 45
2004 21-S 7712 78
78
78
1 7/12 8112 NY 0 & W ret 1st g 9s_ _g1992 31- S ____ 0273 93
93
3 Ji 66
87 88 8814
• Gen sinking fund 4 30__ _193_ J-J
8814
1 87 8914
Registered S5,000 only
- _g1992 21- S 9212 _ __ 9314 Oct '11 ---- _
_
St Louis Div 1st ref g 48_2001 A-0 ___ 84
7834 Nov 11
General 48
195: J -D ___
803 Feb '12 ---- 8958 8958
• Dal & Wa 1st gu g 5s
1940 MN 1053__ tu538lIch'12 ___ 1053810533 Norfolk Sou 1st 4: ref A Os 1901 i- - A 99 993-4 100 May'12 --- 9938 10013
Kan C & Pao 1st g 4s_ _ _199 . F-A 91 __ 91 Apr '12 --_ 0012 91
Nort & South 1st gold 5s_1041 111-N 10314
10234 Apr '12 ---- 10212 10234
Mo K & E 1st gu g 5s
1942 A-0 108 1t)s34 108 May'l:........ 108 110
Nod & West gen gold 6:4_1031 M-N 123 1233
_..
4 12338 May'lf -___ 12338 12334
1942 11-N 19512 108 106 May'12 __ 10534 10712
M K 46 Olc 1st guar 5s
Improvement & ext g 63_1934 F-A 12412
12413 May'12 -___ 124 12638
M K & Tot T 1st gu g 53_1942 31-S 10144 10234 10234
10234
2 13134 104
New River 1st gold 6s„..1932 A-0 12334 _ _ 124 May'12 ____ 124 124
• Sher Sh & So 1st gu g 55-1943 3-1) 10234 101 1037 Feb '12 ___ 10334 10334
N & W fly 1st cons g 4s_ _1096 A-0 0814 0 (3834
09
21 98 9978
Texas & Okla 1st tat g 5s 1943 11-5 ___ 1031 10378 Mch'12 ____ 10378 10514
199. A-0 9712
Registered
98 Jan '11 ----------Missouri Pao 1st cons g 63 1920 M-N 10038 Sale 10014
10638
6 10614 10818
Div'l 1st 1 & gen g 4s_ _1944 J - J
9218 925-2 92
1 112 94
92
Trust gold 55 stamped__a1917 21-S 97 (Id
99
99
25 99 10034
1932 J-1) 11112 1121, 11014 112
10-25-year cony 4s
23 10713 11414
Registered
a1917 34-S 97 98 97 May'12 ____ 97 97
10-20-yr cony 4s full pd ret 3.. __ 111 Sale 110
111
134 108 11134
' 1st collateral gold 5s____192" F-A 98 9812 9778
-b
9812
Pocah
____ 92.8 92
C & C joint 45_ _1941 J
9 977.3 10034
9213 10 92 94
Registered
1920 F-A
C C h T 1st guar gold 5s_1022 J-J 10618 10634 10638 Mch'12 ---- 10638 10638
40-year gold loan 45
Selo V & N E 1st gu g 43_1985 31-N 9513
1945
fD-4 7212 May'12--..
-iS14
9518
1 05 9812
9513
_
9612 May'll
3d 75 extended at 4%_1038 21-N 9212 94
Northern Pac prior I g 4s_1997 Q-J
9913 Sale
_- 9912
9958 75 9914 10034
8612 il gi 665;
1st & ref cons' 5s
1959 21- S 8612 Sale 8.
Registered
9813 99If 9834 May'12 ---_ 0814 9912
1997 Q- J
_ 92 May'12 ___. 92 92
Cent Br Ry 1st gu g 43..1919 F-A 9178
General lien gold 3s_,.. _a2047 (.9-1" 6918 Sale 63
6914 23 09 7018
Cent Br U P 1st g 4s_......1948 J-D 75 82 81 May'12 ____
81
Registered
a2047 Q-F 6712 0234 08 Dec '11.- ____ --_
Leroy 34 C V A L Ist g 53_1923 J -J ____ 102 110 Men 05 ___ __
St Paul-Duluth Div g 4s..1996 J-1) 96 97 96 May'12 ---- 90 9612
8195 -06
Pao 11 of Mo 1st ext g 43_1938 F-A 94 ____ u0 May'12 __
Dui Short L 1st gu 53_1916 MS 100 _
99 Feb '10 ----1938 J -J 104 10912 10812 May Ii
28 extended gold 5s
St P & N P gen gold 6s_ _1923 F-A 11538 __-_ 11514 Apr '12 ---- iig14 ii51
104
SU,Zr M&S gen con g 53_1931 A-0 10312 Sale 10312
8 10312 10033
Registered certlficat3s_1923 Q-F 11434 ____ 11538 Aug'11 ----------111 Sep '09
Gen con stamp gu g 53_1931 A-0 --_
St Paul & Duluth 1st 5s_ 1931 F-A 110107 Jan '12 --- 107 107
7.1 Sale 1914
Unified & ref gold 4s_1929 J -J
80
I., 7314 823:
2d 5s
1917 A-0 10234:::: 10234J'ne'11 ---- --- -,,,
• „ Registered
1929 J -J ---- ----80 Mch'12 _
78 3,0
1968 J-1) 94 ____ 9234 Mch'12 -- 923-4 91
1st consol gold 4s
4
1
8,03
Riv & G Div 1st g 43_1933 M-N
8312
t• 8212 84
Wash Cent 1st gold 4s._ _1948 QM 8958 ......_ 9113 Apr '11 ---- _--.Verdi V I & W 1st g 53_1926 11-S ---- ----10212Jan
'10 ___ 3
.3._ _ _
Nor Pao Term Co ist g 6s_ _1933 J-J 112 __ 11134 May'12 -- 11112 11134
Mob & Ohio new gold Os._ _1927 J-1) 120 1202 12014 May'12 ____ 12014 121 - Oregon-Wash 1st & ref 4s _106I J -J
9114 Sale 9114
4(.
9112
9114
9234
1st extension gold 6s_h1927 Q-J 115 11/ 11534 Feb '12 ___ 1153,111534 Pacinc Coast Co 1st g 53 1946 4-1) 10334 105 10334
10434
6 10312 104
May'12
8612
45
NI-S
8634
gold
General
1938
88
__ 81134 8734 3- enna RR 1st realest g4s_I923 11-N 10012 10111 10014 May'12 -_
,
10O1 102
Montrm Div 1st g 531947
F-A 10604 19.1 110 May'12 ...... 110 11034
Consol gold 55
_
1919 M-5_ 110 110 111c11'12 --- 108 110
:
83 Apr '12 __ 83 83
• St L
Cain:icon g 4s__e1930 Q-F
Consol gold 45
1943 11-N .
10234 10234 Mch'12 ---- 102 104
__
9312
__
Melt'11
Guaranteed gold 4s__ _1931 J-J --------.
Convertible gold 3 kis_ 1912 21- N 9978 1003b 101)
2 991210018
100
_ 103 104
'Mash v Ch & St L 1st 73_1931 J -J 10234 103 103 May'12
Convertible gold 3,54s_ -1915
.1-1.) 9712 Sale 9712
_
9734 190 9634 977S
10012
31 1st consol gold 53
192s A-0 10913-- 10012
b 10038 1(3938
Registered
1915 J -D 93
9738
9712
1 9738 9712
Jasper Branch 1st g Os 1923 J -J 11334 ____ 11578 Nov'10 __
Consol gold 43
1948 111-N 10234 1041F 10312 1041g 11 10212 104
MeM M W & Al 1st 6s.....1917 J -J 10114_... 10734 MO'12 .___ 1073Alleg Val gen guar g 43_ 1942 11- S 9953 10013 9973 May'12 ---- ---- -4 10734
T & P Branch 1st 6s_ __ _1917 J -J 10/14 __ 113 J'iy '04
D R R R & Bge 1st gu 43g
- 1.936 F-A
3
_ _ ------ --390
Nat Rys of Mex pr lien 4 145.1957 J -J ____ 90 83
Phila. Bait h W 1st g 43_1943 11-N -------iu 8
.6. 621-3
__ ___. 102 Ma-,
3 12 -- 10178 10218
8314 May'12
Guaranteed general 48_ _1977 A-0 8212 83
_ 8314 8812
Sod Slay & Sou 1st g 5s_ _1924 J -J
102 Jan '03 --- -----99 10138 99 Mch'12 ___ 99 100
Nat or Mex prior lien 4 30_1926 J-J
Sunbury h Lewis 1st g 4s 1936 J -J
97____ 101__
_
____ ---- --- ---1st consol 43
7812 7734
1951 A-0
U N J RR & Can gen 43_ _1994 MS .10112 ____
7734
1 7734 80
12 May'12 -- 101 10112
NO Mob &Chic 1st ref 5s 1960 J -J ___904 Sale 9034
9034 12 9034 95
Penna Co guar 1st g4 30
1921 9-4 10318 104 10318
3 10318 104
10318
NO & N E prior lien g 6s_ _p1915 A-0 103 1013
Registered
1921 J - J 102 ___ 103 Mch'12 -___ 103 103
New Orleans Term 1st 4s_1953 J-J .- 88 88 - Ma-y.12 ..... 88 - -8812
Guar 3 30 coil trust reg_ _1937 21-S 8834- 8914 Apr '12 -- 8812
N Y Central & Mud RiverGuar 3 30 coil trust ger B.1941 F-A ____ 16 8834 May'12 ---- 88 8914
87 Sale 87
Trust Co certfs gu g 3 342_1916 M-N ____ __ 9734 May'12 --- 9712 883_4
8712
9 8812 881,
Gold 3 10
1997 J-J
0734
1997 J...31 ___ di
88 May'12
Guar 3 kis trust offs C
86 87
Registered
1942 J -D 88 __ 88 Mch'12 ---- 88 8814
93
Guar 3 34s trust Ws D
16 9214 9614
Debenture gold 45
1934 11-N 93 Sale 9234
1944 J -D 8778 -___ 8734 Jan '12 ---3 8734 8734
93
93
May'12
.....-___
93
Guar 15-25 year g 4s
1934 11-N
Registered
1931 A-0 9634 9713 904
.8ale 8158
9634
1 9634 9812
,
82
i 8073 85
Cin Leb & Nor gu 4s g
Lake Shore coil g 330„_1998 F-A 81
1942 2I-N 92 9634 0612 Deo '11 ---- __--81
Cl & Mar 1st gu g 4 ks 1935 18%-N 10314 105 _110 Jan '05
1 79 84
1998 F-A 81 Sale 81
Registered
-----May'12
__ 7818 321f
Mich Cent coil gold 3 30_1998 F-A 78 7•J,,4 7838
CI dPgengug4YjsserA1942 J -J 105
10734Deo '11 ---- -_-_-_-_ --1998 F-A 7713 7812 7734 Apr '12
Registered
Series II
7734 793:
1942 A-0 105
10934.1'1y '09 --------e318 ____ 9853 Dec 10
• Beech Creek 1st gu g 4s.._1936 J -J
Int reduced to 3;0_1942 A-0 9114 _
9114 Feb '12 -9114 9114
6713 ____ 99 May'll
Registered
1938 J -J
Series C 3 10
1948 21- N 9114 923-4 9114 May'12 --- 911 9114
2d guar gold 5s
1936 J -J 13073 ---__
Series 0 3 10
1950 F-A 9114
90 May'08 ----------- •
Registered
1038 J -J
Erie & Pitts gu g 3 30 11_1940 J -,1
11813 95 9112 May'12 --- 9112 9112
13eech Cr Ext ist g 3 10_31951 A-0 -- ---- ...._
- -- - ----- __Series C
1940 J -J
9112 95 9834 Apr '04
---- ---• Cart & Ad 1st gu g 4s_ _1981 J-1) 90 -_-_ 971-2 Apr-119 .-_____ __- Cr 11 & I ex 1st gu g 4 34s_1941 J -J 10414 10178 10414 Mar 12 ----__ 1114 105
Gouv & Oswe 1st gu 1.; 53..1942 J -D 103
_ ___
Pitts Ft W & C Ist 7s
1912 J -J
100 May'12 ---- 100 10114
. Mob & Mal 1st gu g 43- _1991 M-S ____ ____ 6918 Mch-'11 ___ ____ __2d 7s
1912 J - J
10378 Feb '11 ---- -----N J June 11 guar 1st 4s 1086 F-A 9614 100 105 Oct '02 ____ ____ _-3d 7s
__
711912 A-0 -------- 101 Dec '11 ---- ___-Registered
1986 F-A ---- ---- ---Pitts Y & Ash 1st eon 53_1927 31-N 1075--3 ---- --,3- 8 ____ 109 May'10 --- ..-.. 3.33
N Y & Harlem g 3 30...._2000 it-N ____ ____ 89 Ma-y'i2 __ 8853 -89 Tol W V & 0 gu 454s A__1931 J -J 10218 ___ 10134 Feb '12 -- 10134 1'Ra4
3
Registered
2000 11-N
Series B 434s
1933 J -J 10218 ____ 100 J'iy '10 -.
-107 108 Oci-';.;
, N Y & Northern 1st g 5s_1927 A-0
1942 21- S 9514 __-- ---Series C 45
__ ---- ---- ---3 Aug 11 __ ___ ____
__, N Y & Pu 1st cons gu g 491993 A-0 --------977
P C C de St L gu 4348 A 1940 A-0 10518 __ 10578 Apr '12 ---- 1(331210634
Nor & Mont 1st gu g 5s 1916 A-0
Series 13 guar
1942 A-0 10514 _ _ 10612 May'12 ...._ 10612 107
8 ____ L.11-32 Jan '55
1032 J -D ii(73Series C guar
:: Pine Creek reg guar 8s
1942 M-N .107 106 J'ne'11 --. ____ -._
10034 May'12 ..... 10333
R W & 0 con 1st ext 5e..111922 A-0
4 107.3-4
Series D 48 guar
1945 M-N 9712 ___ 9714 116v.12 ____ 97 99
' Ossve & R 2(1 gu g 5se1915 F-A ...._
--------101 Mch 12.... 101 IC.1
Series E $34s guar g_1949 F-A 9334 ___ 9312 Feb '12 -__ 9313 9312
4 107 104 J'no'10 _ _ __ ___ ..3.,
RWeGOTI1 1st go g 5.5_1918 M-N 1053Series F gu 4s g
1953 JD 97 ___ 9778 Aug'11 -- __ -Rutland 1st con g 4 10_ _1941 J-J
9638 ---- 9814 Mch'12 _. 9712 9314
Series G 4s guar
1957 M-N 9734 99 99 Meh'12-. 99 99
8412 88 84 13,9b '12 ..._ 84 80
Og&LCham 1st gu 4s g 1948 J -J
0 St L & P 1st con g 5s_1932 A-0 11034 ____ 11312 Nov li __ ____ ....
•
Rut-Canad 1st gu g 4s_1949 J-J ___--- .32 J'ne'09 ____ __ ___ Peo & Pek (in 1st g Os__ _1921 ('9-F 10612 ____ 109 May'llSt Lawr & Adlr 1st g 5s 1996 J -J 10718 ---- 115 J'ne'09
2d gold 4 10
_ 99 93129an '11
b1921 21-N
2d gold 65
1993 A-0 118 ____ 11912 Mon'12 ____ 11912 11912 Pere Marquette-Ref 4s___1955 J -J
50 ___ G034 Apr '12 ....„ 6034 60__
34
Utica & 13Ik Riv gu g 4s.1922 J -3 9934 - - 9978 Noy'll
Refunding guar 43
3J ---- ---- 6834 Nov'll ....... ____
J
'1955
Lake Shore gold 3 30_ _1997 J-1) 8812 13;14 88
89
3 873:1 -8978
Ch & W St Is
1921 J -D
_
9958Feb '12 ---_
9% 9958
1997 J-D 88 8834 8834 May'12.
Registered
Flint & P Si g 6s
8714 8834
1920 A-0 -------____ ___ 108% May'12.- 108 10838
Debenture gold 4s
1928 21-S 9314 9,/,
-,. 9314
I/333 31 9314 9.113
1st consol gold 5s
1939 11-N 9618 __. 9812 Apr '12 -- 9812 100
25-year gold 4s
1931 11-N 9338 Sale 9318
9333 71 93 9378
Pt Huron Div 1st g 55_1939 A-0 9613-_ 9112 May'12 ___ 9712 9712
Registered
•
1931 M-N ,..„.. ...... 9258 Apr '12 --__ 9238 9312
Sag Tus & H 1st gu g 4s..1931 F-A.__
Ka A & G 13 1st gu 0 53.1938 J-J 10533-3Philippine Fly 1st 30-yr 5 f 45_'37 J -J ....-- -861 80 May'12 ---- 8414 86
Mahon C1 RR 1st 5s_ _1934 J -J 11112 ___ ilia mcliii ::::: -_-_-_- -_-_-_- Pitts Sh & L E 1st g Is
.
1940 A-0 11014 11318 11314 Issay'12 -S.- 11314 11314
- Pitts & L Erie 2d g Is._a19211 A-0 11513 ---.. 105 - Apr '12____ 105 - 105 1st consol gold 5s
1943 J -J 11014 __,- 11314 Noy'll
' Pitts MeK & Y 1st gu 133_1932 J -J 12112 __ 1301g Jan '09 ____
D eading Co gen g 43
9/34 Sale 9734
1997 J-J
98
79 973t -9334
•
28 guaranteed Os
1934 J -J 12s ___ 12314 Mch'12
1997 J -J __-.- 08 Apr '12 .--- 9734 9814
ii14
- riS14
- IA, Registered
McKees & B V 1st g 05_1918 J-J 100
Jersey Cent coil g 4s
1951 A-0 --- 0714 9712 Meru .... 9978 9812
Michigan Central 5s
Hi" Hi
1931 41-S 10913115 iii Jati-ii Atian City gu 45 g
1951 J -J -3,- ---- -333- ,„.--- -.___ _
•
Registered
1931 Q-111 109 112 119 J'ne'06
;.3
1 t Jo & Cr Isl 1st g 4s
1947 J -J
8,3 .1,-" Mch-'I2 ..-. 86 8614
45
99 98 Apr '12 ....... 98-98 - Ot L 4c San Fran gen g 6s 1931 J-J 1183
1940)-J
4 11918 11834 May'12 ..,._
119%
Registered
1940 J-J ---- ----9812 Noy'l 1
1931 s- J __ _108 10712 May'12 ._ . 11834
General gold 5s
10712 1081:
J L & S lst gold 3 30_ _195 I M-S --------90 J'ne'08
St L & S F RR cons g 4s_1996 J-J
86 913 8818 Feb '12 __:_ 88 8814
•
1st gold 3 30
1032 11-N 11612 .--. 8613 Mch'12 .....„ 8612 863-4
Gen 15-20 yr bs
1927 M-N 87 88 87
8714 24 8673 8842
•
20-year debenture 45_1929 A-0 ____ 90 90
92
6 90 92
Southw Div 1st g 5s 1947 A-0 9812 ____ 100 Oct '11 ..
100
N Y Chic &St L Isle 4s1937 A-0 100 Sale 9978
13 0934 10053
Refunding g 45
7818 Sale 7818
1951 J -J
783
4 -89 -i818
- -814
Registered_
'
_ 19:17 A-() 0012 0934 Mch'12 ____ 99 9934
Registered
1951 J-J --- ....._ 8034Mch'll _____rinhnntitiv• da
ins, 81-711 51,11. on
Rilo May'12 ____ 591. 01
f(;.
,-
8%-S .....z-
--
--
MISCELLANEOUS BONDS-Continued on Next Page.
Gas and Electric Light
Kings Co El L & P g 5s_ _1937 A-0
Purchase money as
1997 A-()
Convertible deb Os
1922 11- S
Ed El II Mtn 1st con g 9s_1930 J-J
Gas
L
of St L 1st g 5s__8191.9 (.).Lac
Ref and ext 1st g 55
134 A-0
[ Milwaukee Gas L 1st 4s__ 1927 M-N
INewark Con Gas g 5s
1918 J-D
lNYGELH&Pg 5s_1948 -I.)
I Purchase money g 4s_ _ _ _1949 F- A
Ed El III 1st cons g 5s__ _1995 J-J
; NY& Q El L&P ist cong 53_1930 P-A
NY & Rich Gas 1st g 5s...1921 /11-N
Pacific G & El Co Cal G &.E
Corp unifying & ref 53_1937 21-N
'Pao Pow & Lt 1st & ref 20-yr
1930 F -A
Os Internal Serie.
1949 51-S
;Pat & Passaic G 46 11 5s
104 1047s 10412 10412
117 May'12
11714
11818 Dec '11
12314 8812 Dee '11
102
idi" 10214 102
1,01110112 10034 101
8)78 9452 9058 May'12
106
10614 Apr '12
10312
103 103 13318
8312 Sale 8312
8834
11318 Mch'12
i6f3:1 _ _ 10212 Mch'12
9212 J'ly '00
96
*No price Friday: latest bid and asked.
0018 96
9312 05
10212_
96
05 May'12
Gas and Electric Light
Peo Gas & C 1st con g 0_1943 A-0
Refunding gold 5s
1947 IM-S
Registered
1947 /31-S
Ch G-L & Cke 1st gu g 58_1937 J-J
Con G Co otCh 1st gu g 5s 1936 J-1)
Ind Nat Gas & 011 30-yr 5s '36 If-N
Mu Fuel Gas 1st gu g 5s.._1947 21-N
Registered
1947 21-N
Philadelphia Co cony 5s
1910 F-A
Syracuse Lighting 1st g 53_1951 JD
Syracuse L & P 53
1954 J -J
Trenton G do E 1st g 5s
1940 11- S
Union Bice L & P let g 5s_1932 21-S
Ref h ext Os
1933 111-N
12 94 9618 Utica El I. & P 1st g 5s
1950 J -J
Utica Gas & E ref 5s
1937 .1-41_
.. 0312 95
Westchester Light'g g 5s
1950 J-u
2
••33
3
._
._
9
l5
..
..
-
10412 10513
11512 117
---- --3,- ---_
102 103
10934 10138
8978 906g
10614 10614
10238 10414
8814 8912
11212 11318
102 10212
---- --
a Duo Jan. 5 Due Feb. 6 Due May
g Due June.
/i Due July'.
--------11814
_
Apr '12 __ 11614 /1711
101
10138
102
5 101% 10211
------_ -103 Feb '09 __ ...
-10212 10312 103(8 May'12
10278 10411
10112 10314 102 May'12 ___. 102 102
80 91 L 03 Mch'12---_93 93
__ _ _ 10114 Meh'12 __ 100681014)
...._ 100 _.
-_ ---- ,3,- -.7-•
__ 1§
09 10_
- Feb '12 -- 101 1o9
10012 _ _ _.101 Dec '11 __-- ---- ---•
May'1286 87 86
86 86
103
109 Feb '01 -- -------100 -__ _ 101 Apr '12 ___ 101 101
9612
-9811
96 - __ 9612 Apr '12
103 ----- ---- ---•
,,..„..
33
-1663-4 i6614 Dec ii
May'12
___
105 10534 10512
19438
- 1904
:
p Due Nov. 3 Option sale.
1555
New York Bond Record—Concluded—Page 4
JUNE 8 15$12.1
p
Price
t
-..
'
BONDS
Friday
ilf. Y. STOCK EXCHANGE
June 7.
4s,
Week Ending June 7.
Week's
Range or
Last SaLi
4. 3
g e2
as
Range
Since
Jan. 1.
N.
q
...'''
BONDS
Y. STOCK EXCHANGE
.F.s.,
Week Ending June 7.
Price
Friday
June 7.
Range
Last Sale
Range
Since
Jan, 1,
A.11
Bid
High No. Low High
Ask Low
Bid
St L & San Fran (Con)
A4 10773
10412
Vcek O57
1939)11-N 105 Sal 10-34o
Wabash 1st gold Ss
K 0 Ft S & M con g 133__1928 M-N 1131 1 11,1 11534 May 12 ____ 11534 118
9238
991
9 96 100
57
7912
991
St
58
8012
F-A
7.
1939
7912
T
T
2d
gold
as
Sale
791
K C Ft S & l'd By ref g 4s_1936 A-0
1930 J-J ____ 120 100 May'12 ___ 100 100
Debenture Series B
1936 A-0 ---- ----79 Sep '10 ---_ ____
Reestered
1st Hen equip s fd g 5s
192I 11-S 9814 91;14 99 Apr '12 ---- 99 100 :
10014 Dec '09 --- _..2.____
K C & /3I It & B 1st gu 5s_1920 A-() 1023-4
.
12
-u
-1
- _6
,
6.1_2 _422i.
8
6312 Dec6;10 -3
1st lien 50-yr g term 48_1954 J -J .80
99 8
9975
1 9914 100
Ozark & Ch C 1st gu 53 g_1912 A-0 9978 100
6813 Sal
154 ref and ext g 4s
7 91 9212
0114
1956 J -J
St L S W 1st g 4s Oct etfs 1989 M-N ____ 0112 91
1
4
6518 May'12 .2. 6438 70/
82 1,3 81
Cent '1 rust Co ctfs
8034 82
8134 1
2d g 4s Inc bond etts____p1939 J -J
4,6
15 6158 66
65
- 68
81,, 1. 79 841,
130 Stamped
1032 J-13 81211Sale 8112
Consol gold 48
_ 69 May'12 ____ 5914 6938
Equit Tr St Co ctls
Gray's Pt Ter 1st gu g 5s_1047 J -D 9858 ___ 10118 Apr '07 ---- ____ _ _
e16!:. .2:
.
1 601. 6912
64'8
GG
Sal
e
41
87
Sale
8614
8612
Do
87
13
73
4
Stamped
J-J
1943
4s
g
co
A
Pass
gu
SA
1st
Det & Cli Ext 181 g 5s___1941 J -J 10512 1.813 10618 May'12 _-__ 106 107
.. _
SF & N P 1st sink t g 5s_ 1919 J -J 10334 _ _ 104 Oct '09 _.-_ ..,......
Des Moin Div 1st g 4s___1939 J-J
79 _.
1950 A-0 8612 ____ 87 May'l 2 --- 87 8733
Seaboard Air Line g 4s
Y
y:
1
1
12
1
ah
1k2
34:blc
- 2i
73
1
1:
Om Div 1st g 3 5Ss
3f31-42
8834 15 8612 90
1041 A-0 7012 --• 8
1950 A-0 8814 _. 8'7
Gold 45 stamped
34
_
__ _ ____ _ _
__
Tol & Ch Div 1st g4s
19'11 J11-S 80 __.
1950 A-0 __
Registered
ss ij iii, Wab Pitts Term 1st g 4s
3512 351, 11 3512 3014
si
__.
1954 J-D _
o1949 F-A 81 sale 8012
Adjustment 5s
3618 44 35 9214
811. 02 81 83
- Sal e 3512
Cent & Old Col Tr Co certfs__ ---- 3558
1959 A-0 8112 Sale 81
Refunding 43
3612 May'12
3134 4112
---- 88 90
Columbia Tr Co etIs
' Ati-Birm 30-yr 1st g 4s_e1933 21-S ____ tisss 88 Mar12
_Col Tr ctfs for Cent Tr ctfs_
___. --.
-_
1949 J -J
9112 ---_ 0312 Apr '12 ____ 9234 9312
Car Cent 1st con g 4s
_
113
213
1
__
_
_
2d
____
:1-6
gold
May'il
101.8
J
-J
4s
1954
__
1918
103
g
5s
1st
Pen
&
Fla Cen
258 May'12
132; 3
-i- -2
Trust Co certfs
1st land gr eat g 5s___ _11130 J -J 102 ___ 104 May'12 ---- 104 jai
Wash Terml 1st gu 3 5s,,. 1945 -1,--A 8612
8735 Oct '11
2 107 107
197
1043 J -J 107 Sale 107
Consol gold 53
-,
- -911g
6i13
1st 40-yr guar 4s
. 9718 Mch'12
10014 10 10334 10714
1045 F-A 9718
Ga & Ala By 1st con 53_0945 J -J 10,34 10,., 10 134
78 29 8634 8814
1952 A-0 8624 SalLe 8634
Ga Car & No 1st gu g 52_1929 J -3 105 135, 10512 May'12 ---- 10512 10534 West Maryland 1st g 4s
1937 J -J 10734 - -. 10734 May'12 __ -. 10734 10834
1926 J -J .._ 10614 105 May'12 —. 105 10628 West N Y & Pa 1st g 5s
Scab & Roe 1st 5s
- 8714 Apt '12 --__ 8714 8812
Gen gold 45
1943 A-0 ____ 8714
Southern Pacific Co—
Income 5s
34 Feb '07
2012 _
01943 Nov
9138 12 91 9212
Gold 43 (Cent Pae coil) k1949 J -D 9118 Sale 9118
_ Wheeling & L SI 1st g 53_1926 A-0 109 102 - 10413 May'12 --- 10414
- 10513
._ ___ _
Registered
k 1949 3-1) .89 9194 9112 Nov'll -.2
Wheel Div 1st gold 53_1928 J -J 19114 104 10218 Nov '11 _
01929 21-S 135 Sale 3444
(.,0 9458 61
95
' 20-year cony 48
Exten & Imp gold 5s____1930 F-A 109 103 102 J'ne'10
Cent Pac 1st ref gu g 4s__1949 F-A 9618 us., 06
9614 47 9514 07
RR 1st eonsol 45
3 84
84
1949 M-S
Registered
1940 F-A 94 95 9412 May 12 ---- 9412 0412
98
412 Feb8411
20-year equip s f 5s_
965-8_192 _ _. 8
-ij1;
J-J
Mort guar gold 3 s__k1929 J -I) 14033 90, 9073 Apr '12 ---- 0012 911.
9333
9114
- Winston-Salem S B 1st 48_1960 J - J
-23
u3 2 __.,
it -0
4 -1
-11
0212 9134 Apr9
Through St L 1st gu 43_1054 A-0 ____ 9112 9014 Its y'12 ---- 9278 9278
Wis Cent 50-yr 1st gen 4s_ _1949 J -J ..._9278 Sal1e4 9921
OH & SAM & P 1st 53_1931 M-N 1J3 10.13 107 Meh'12 ---- 10634 107
91
11 91 9212
SLIP esDul div & term 1st 48 '36 M-N 9034 1)1
Gila V G & N 1st gu g 53_1924 111-N 10212 104 10434 Peo '12 ---- 10434 10434
bus E & W T 1st g 5s 1033 111-N 104 10178 10413 Jan '12 ---- 10418 10418
Manufacturing and Industrial
1st guar 5s red
1933 11-N 104 105 10414 May'12 .--- 10414 10414
6213 40 52 6714
Allis-Chalmers 1st Is
62 SalSe 6013
1938 J -J
H ec T C 1st g 5s int gu 1937 J -J 10914 101)3,, 109(s2 May'12 ---- 10958 110
_ Am Ag Chem 1st c 5s
29 10112 10234
102
1928 A-0 10158 121 34 102
Consul g Os int guar_1912 A-0 __ --- 10712Sep '11 -9814 22 gg 981s
s 045; -El, Am Cot 011 ext 45s
9158
1915 Q-F 1/618 9834 9818
Gen gold 43 int guar 1921 A-0 94 - 0512 9453
•
Debenture 5s
9413 9512
1931 M-N ____ 0412 95 May'12
Waco & N W div 1st g ils '30 111-N 114 __-_ 11914 Mch'10 ---- .._ ____
100
14 9818 100
2 10712 AM Hide & L 1st St g 6s_1919 M-S 109 Sal e 100
• A & N W 1st gu g 5s_
_1941 J -J 106 ....... 10712 Feb .12 .....- 10718014
7 7212 82 .
1925 A-0 80 861; 80
8 -___ 112is Sep '11 _--_ _____ Amer lee Secur deb g 6s
Morgan's La & T 1st 7s_1918 A-0 112,
Am Smelt Securities 86 Gs 1026 F-A 12478 Sale 10434
105
82 10212 10514
1st gold 6s
Ill Itch 11 ---- ---- —_
_—
1920 J -J 10238
Am Spirits Mfg 1st g 6s
10194
4 100 101
1915 M-S __ 109 100
___—___ ____
NY 'r
& Mex gu 4s g__ 1912 A-0 ___.____ __
94
5 9258 94
91 9412 94
, No of Cal guar g Is
1038 A-() 119 11458 112 Feb '07 -- ____ ____ Am Thread 1st Co' tr 4s__1910 J-J
12014
2 11878 12113
1944 A-0 120 12012 12013
Ore & Cal 1st guar g 544_1927 J -J 10114 ___ 102 J'iy '11 ____ __ -----Am Tobacco 40-yr g 6s
__.
_ 12013 May'12 ____ 11834 12133.
Reg,istered
1944 A-0
' So Pac of Cal—Gu g 5s _1937 21-N 1141(8 .._ 116 May'07 . — ___ ___
11878 12112
Certificates of deposit
_ 12014 May'12
' So Pac Coast 1st gu 4s g_1937 J -J
tals ____ 00 J'iy '09........ __
1951 -P---,i -66.19514
1 9178 9578,
4 -66
9514
Gold 45
9078 May'12 ____ -994 -jiSan Fran Tenni 1st 4s_ _1050 A-0 __ 01
1951 F-A ____ ___T _ 9538 Apr '12
Registered
9214 951111
ex & N 0 Nab Div 1st g 63'12 Si-5 100 10914 10034 Melt'12 ..... 10034 10034
_ 9514 Marl:.
9178 96 •
Certificates of deposit
105 10158MaY'11 ---Con gold 53
1943 J -J
121/3 45 11938 12334,
P Lorillard Co 7s tern'pry bds_ --__ 12158 Sale 12118
uk 0434 0534
9478 Sale 9434
95
1955 J- J
So Pee 1411 1st ref 43
e
9434
____ 95 Sal
95
6t4 9118 9658:
10734 42 107 10828
55 temporary bonds
Southern 1st consol g 5s
19114 J -J 101.14 Sale 10712
120;2 89 11834 123 ,
1994 J -.1 •___ lui 105 Sep '11 —2.
_
LIgg & Myers Ton Co7s tpy bds ---- 12012 12078 120
Registered
67 8934 95
95
58 temporary bonds ___ _ _ .. 2 2 9478 Sale 9458
Develop & gen 4s Ser A_1956 A-0 7812 Sale 7814
7812 10 7814 -7934
4 8814 90 ,
8973
8934 Sale 8924
-J
' Mob & Ohio coil tr g 4s 1938 21-S 8678 87,2 87 May'12 ---- 8512 8713 Am Writg Paper 1st s f 5,5_1919 J-10312 104
Baldw Loco Works 1st 5s_1940 81-N 103'8 - - 4. 104 Feb '12
Mem Div 1st g 1 14-53_1906 J -J 10812 109 105 May'12 —.- 1(1814 111
97,2 34 9313 102
9718 Sale 9718
89 90 89 May'12 ---- 8858 9014 Beth Steel 1st ext s 6 5s_ ___1926 J -J
1951 J -J
St Louis dlv 1st g 48
9578 48 9134 96
1918 J -J 10734 10834 10778 Nov'io ____ __ ____ Cent Leather 20-year g 5s__1925 A-0 9558 Sale 95311
14 i
Ala Cen It 1st g Os
Consol Tobacco g 45
3 9134 9633 1
9514
8712 9012 0012 Nov'll ---_
1951 F-A •___. 95 4 9514
1048 J -J
Atl & Danv 1st g 4s
_ _ 57 Nov'07
Registered
1951 F-A
8112 8234 8214 Feb '12 ---- 8214 gil4
2d43
1948 J -J
____ __ Corn Prod Ref s f g 51
136-8
1 Ms 97 •
; 97 9673
__
1931 M-N 957
AU & Tad 1st g guar 48.2.1949 A-0 8434 ____
1st 25-year s(55
95
6 94 96122
1934 M-N 95 Sal e 947/1
_ iiig4 Dee ii.--__
1916 J-J 101
Col & Greenv 1st 6s
Cuban-Amer Sugar coil tr Os 1918 A-0 _ _ VS
9612
8 96 9712;
:
4 96
B '1' Va & Ga Div g 5s...._1930 J -J 111714 108 10778 May'12 _- 10734 1.6;14 Distil Sec
Cor cony 1st g 5s_1927 A-0 7412 74
7434
7434
8 7158 7814i
2 11013 11134
110.38
1956 M-N 11058 11034 11013
Con 1st gold 5s
5 I du Pont Powder 4148_1936 J -D 82 8912. 89
8912 99 8478 92121
1038 fl-S 101 ____ 106 Mch '12 ---- 10534 106
E Ten reor lien g 5s
84 May'12 ____ 82 84 i
1942 F-A 8358 84
6412 May'12 -- 6412 641, Gen Electric deb g 3 S4s
1946 A-0 6413 72
Ga Midland 1st 3s
10-yr g deb 55
__ 169 Feb '12 ____ 15312 159
1917 J -l)
11258 11278
1022 J-J 11112 112 1123 May 12
y 1st g Os
, Ga Pas 8(v
;100 9934 100
Gen'l Motors 1st lien 6s
1915 A-0 -997
3 9813100711i
1025 J -J 113,4 ____ 114 Apr '12 _—. 114 115
Knox .30 Ohio 1st g Os
92
8 92 9234
III Steel deb 4148
1940 A-0 ,...„ 91 4 92
Mob & Bir prior lien g 53_1945 J -J 10412 ____ 10512 Nov'10 ____ __ _
7813 ___ 78 Dec '11 --- -- - - —- Indiana Steel 1st 55 (rects) 1952 M-N 101 Sale 101178 10118 208 10078 101581
1945 J -J
Mortgage gold 45
10358
4 10314 10434'
191 5 J -J 10414 10112 10414 Apr '12 --__ 104-14 10434 Int Paper Co 1st con g 6s 1918 F-A 10314 Sale 10314
, Rich & Dan con g 63
9014 00 9118 May'12
8913 91731
1935 J -J
Consol cony s f g 5s
10424 Apr '12
104 10434
Deb Is stamped
1027 A-0 10.112 9218 14 9134 9312,
_ Int St Pump 1st s f Is
1929 21-S 9214 921 92
7213__.... 71 Mehl' ____
1948 M-N
Rich & Meek 1st g 4s
94 May'12 —... 94 97
Lackaw Steel 1st g 5s
1923 A-0 94
1919 M-N 10_73 .. _ 103 Mar 1. ____ joie, ja
So Car & Ga 1st g 0s
1
4
8212 110 77 821s,
1st con 5s Series A
19508%-S 81 82 7934
1916 81-S 105 ___ 112 Oct '06 —__ _ ___
' Virginia Mid ser (2 6s
9414 33 9012 9414
5-year convertible 5s_ _1915 81- S 9114 SalIc 9278
Series D 4-55
1921 81-S 10334_.._ 10414 J'ne'11 ____ __
99 May'12
95 100
Mexican Petrol Ltd env is'A '21 A-0 9834 100
Series 5 53
19,36 81-5 10513 ____ 106 Meh'll ___ Nat Enam & Stpg 1st 5s
9412 Apr '12 ____ 9334 9413,
1929 J -D 03 95
Series F 5s
1031 ,11-S 10538 ____ 105 J'ne'lo ___ joi_
i12824
May'12___
10112,
Sal
10034
43
10013
National
10034
11-N
e
10012
10814
Tube
1st
Is
rects_1952
10.3
4
108
General Is
M-N
1936
74
2 msly.
0114
,
.
N Y Air Brake 1st cons' 6s_1928 111-N 101 Sallet 99
01112
83
4
712 19
6
97
Va & So'w't 1st gu 53_2003 J-'6 108 — — 10812.121y '11 ____ ____ _
34 Ry Steel Spgs 1st s f 5s
1 9612 5j0634
1921 J -J _ 22 _ 97
1st cons 50-year iss 10 5t4 A-0 96 97 9634
Repub
I
&
8
'12
___
104
Apr
1027
lst&col
90
8
to
104
I
Mch
'12
---5s
1934
90
A-0
00
9218
..___
10314
2
-F-A
1924
W 0 & W 1st cy gu 4s
9212 37 9034 93.1s1
10-30-year 5s s f
1940 A-0 9214 SalIC 9214
West N C 1st con g 63_1914 J -J 103 ____ 101 Mar12 ---- 102 10312
8634
5 8634 88341930 Al-N ____ 155 1 8634
Spokane Internet 1st g 5s1935 J -J ___ 10.1 10212 Apr '11 ___ --------Standard Milling 1st 5s
rhe
Texas
Co
cony
100
27 9413 10014
tieb
9038
100
-J
6s.._1931
J
9812
161(3
106
103
105
---Meh'12
212er A of St L 1st g 4 20 1930 A-()
9938 May'12 ____ 94 9912,
11114
1 1.1114 11212 Union Bag & Paper 1st 5s 1930 J -J ____ 94
-3- ist con gold 53-1894-1044 F-A 11012 11112 11114
Stamped
9412
1930
2 94
94 May'12 ____ 94
9438 9478 9158 May'12
04 06
1053 J -J
Gen refunds f g 4s
1913 --_ CT S Leath Cost deb g 6s
11-N 10013 101 10114 May'12 ___ 10078 102
_
St L M. Bge Ter gu g 5s 1030 A-0 10,1s ._ 10812 Feb '11 ____
90
89 90
0 8712 90
8912
U S Realty & I cony deb g 5s _'24 J-J
2000 J-D ____ 1081: 10638 Mav'12 --.... il5K18
Tex & Pac 1st gold 58
50 Apr '12 .___ 50 50
1931 J -J _ 45
U S Red & Refg 1st g 6s
50 65 50 May'12 --- 50 60
2d gold Inc Is
q2000 sich
10434 93 10334 105
4 Sale 10412
__ U S Rubber 10-yr coil tr 68_1918 J -D 10431931 J -J 100 _-__ 0912 Apr '11 __ _
La Div 13 L 1st g 55._
1O31 Jan '10
Registered
1918 J -I)
-- -_,
10612 Nov'04 --_
W Alln W Ss N W 1st gu 53.230 F-A
10213 334 .
113f34 jai
1935 J-J ieg iiii3-4 10814 May'12 ___ fail; id912 U S Steel Corp—Icoup ___d1963 sl-N 1524 Ktie 1028
Tol & 0 C 1st g Is
0178 May'12 _ 10158 104
1935 A-0 10734 138 19734 May'12 ---- 10734 10734
S 6 10-60-yr 5slreg 2_01963 21-N
Western Div 1st g 5s
9934 45 9914 101
1935 .1-1) 103 10415 10312 Meh'l 2 ---- 103 104
Va-Car Chem 1st 1 5-yr 5s 1923 J -D 9914 SalC 9914
General gold Is
10134 11 10134 10313
West Electric 1st 5s Dec 1922 J -J 10134 Sal C 10134
Kan & M 1st gu g 4s
1990 A-0 9134 93 93 SJay'12 --- 9134 93
9434 Sale 9914
0814 9812 9812
9478 24 93 9514
2d 20-year Is
1927 J -J
11812
6 9814 9918 Westinghouse E & Id 3 t 53_1931 J -J
10-year coil tr notes 5s 19I7 A-0 9612 98
9712 May 12 ___ 9612 98
94 9518 9412
1917 J -J
, Tot P & 1V 1st gold 45
7 9314 9472
9112
8614 88 81314 Apr '12 _. 80 8712
Tol NIL & W pr lien g 3 343_1925 J -J
50-year gold. ils
1950 A-0 62 621; 6218
Telegraph & Telephone
4 61 6938
(53
9028 9034 9053
Coll tr 43 g Nor A
731: Am Telep & Tel coil tr 4s 1929 J-J
75 7312 May'12 --_- 71
60341 68 90 9113
1917 F-A
Convertible 45
1936 M-S 11414 Sa C 11414
Tor Ham & Bull 1st g 4s_../t1046 J -D 8934 ____ 8978 Apr '12 ____ gols 9312
11414 25 10834
Chicago Telephone 1st 5s 1923 J -D
, -Ulster & Del 1st eon g 5s_ 1928 J-1) 105 — - 108 Apr '12 ..--- 10578 106
U 1st refund g 4s
8212 8213
132 - -84 -01;
. Mch '1
1952 A-0 8512 ____ 8618 May'12 ____ 5018 8618 Commercial Cable let g 4s_2397 9)-J
Registered
8312 Nov'11
10034 60 10038 10214
2397 Q-J --Union Paellie—Goid ss
1947 J -J 10913 Sale louls
16582 82
Registered
83
82 Feb '12 ____
101 May'12 --_. 0913 10178 Keystone Telephone 1st 5s_1935 J -J
9914__,,,_
1047 J -J
Metropol Tel & Tel 181 s t Is 1918 11-N 10234 10214 10234
1 10234 103
10234
20-year cony 43
1927 J -J 10178 Sale 10114 102)8 231 10114 104
100 101
1024 1,-A 10012 101 10038 May'12
41 96 9778 Mien State Telep 1st 5s
07
1st & ref 43
02008 21-S 0612 s7 5612
0512 24 95 961s SI Y & N J Telephone Is g_1920 ,11-N *102 .._. _ 10314 May'll
Ore By & Nay con g 43_194 • J -D !,514 Sale 95
1 11214 11334 N Y Telep 1st & gen s t 4 14s 1939 21-N 991s Sal e 99
11214
991;, 45 -IN" 16(K
Ore Short Lille 1st g 6s_1922 F-A 11214 11 , 11214
Paz Tel & Tel 1st 5s
1937 J -J 100 Sal e 9978 10018 66 987810012
4 11014 112
1st consul g 5s
194(3 J -J 11014 Sale 11014
11014
101 10312
1938 J -J 101 102 102 'May'12
Guar refund 48
0334 11 9333 9534 West Union col tr cur 5s
1921 J -D 9234 Sale 9312
0818
9814
8 9714 10012
Fd and real est g 4 348.-1950 111-N 9812 99
Utah & Nor gold 5s_1926 J -J 10515_,,,. 108 May'll ___ _ —_ ---10458105
1st extended 4s
1033 4 -.1
1936 SI-N ..__ __. 105 Feb '12
9218 ____ ___
_ _—__ ___- ____ , Cony 4s. series A
__.
103 Feb '11
Registered
1936 11-N ____
Vandalla cons g 45 Ser A..1955 F-A
92 ____ 065; Mch-'12 -- 9658 9638
104 J'ne'll
Mut Un Tel gu ext 5s
1941 M-N
Consol 4s Series B
v
1957 St-N 92 06
9713 Apr '12 ..... 97 9712
1 95 9514
9614
9614
94
Vera Cruz & P 1st gu 4 14s_1934 J-J ____ 9134 9134
Northwest Te tou 4 342 g_1934 J-J
1 0134 9134
913.4
----------
------IT
MISC.ELLA NEOUS lONDS--Concluded
Coal & Iron
Miscellaneous
1948 111-S . _ 84
86 May'12 ____ 86 8813
Buff & Susq Iron s I 5s____1932 J-D 97 ___ 97 May'12 ._. 07 08 _ Adams Ex coil tr g 4s
:
8 $1112 S:jo 01%4
Armour & Co 1st real est 43439ts 1
01926 21-S *88
Debenture 5s
77 9112 9214
91 Nov'll _-- __—__
'3,212
II-A 1,0 10011 100
883 Ma}
1 100 - 1003, Bush Termlna, 1st 4s
100
Col F & I Co gen s I g 5s_ ,,_1043 I
Consol 5s
971, --ii 8r4 89
4.--.. 98 97
-N 10/14 Sale 10714
3 10714 10734
10714
Col Fuel gen Os
Chino Copper 1st cony 66_1211 11 140 Sale 130
140 . 59 116 140
7d
'r I
12'2 7212 77
7534
76
Col Indus 1st & coil 5s gu_1034 P-A
1 :Nov66
'11 _ii; _6i.. _m _
841: 85 J'ne'll ___ ______ Irrigation Wks & D of A 434s '43 st-N _64_4 _6_61_4 21
Cons Ind Coal Mc 1st 5s___1935 3-1)
Int Mercan Marine 4 34s__ 1922 A-0
91 Dec '11
Cons Coal of Aid 1st & ref 3s 1950 J-1) .. _ 94
1929 F-A 78 79
79
18 78 8214
78
10238 Apr '06 -----..-.. --_-_—_- Int Navigation 1st s f as
Or Itiv Coal & C 1st g 6s...111919 A-0 04
Bond
(N
Y)
ser
Mge
2-4s
5s_1951
J
-J
1966 A-0 _
06 0814 1)812 Apr '12
__ 89 Apr '11 __-- 10012 10013
_ -9734 -681-2
Ken & II C & C 1st s f g
1939 J -J ......:- -8978 8078 May'12
-867i -1.
3.678
8812 —25 8112 8911 Morris & Co 1st a I 4 14s
Pocah Con Collier 1st s f 53_1957 J -3 __ 88 83
N Y Dock 50-yr 1st g 4s
1951 P-A 821-2 84 85 Apr'12 ---- 84 8512
8234 May'12 _-__
St L Rock Mt & P 1st 5s__
53 -_______a
_11932 J-J 10078 —__ 10012 Apr '12 -_-----.
1%1 111j" 103
1 10218 10372 Niag Falls Pow 1st 6
10334
Tenn Coal gen Is
Refunding
A-0
101
—_ -- --16 10312 10418
____
Blom Div 1st consol 6s_1917 j-J 10258 —_ 101
Ontario Transmission 5s___1945 81-N 9212 931:
01917 A-0 10258 ____ 10358 May'12 -- 103 104
Tenn DIN 1st g 6s
Pub Serv Corp N J gen 5s__1959 A-0 94 Sale o..4--IVIS
Cab C M Co 1st gu g 58-1922 J -D 10312 ...... 110 Jan '09 _—_
_
-igli
---- ---- Ray ConsCopper 1st cony 6,1921 J -J 118 Sale 112
1931 111-S
118 --2 1-ff25-8 1
Utah Fuel 1st g 5s
1003 J-J
: St Jos Stk Yds g 4 3.-ss
8(
-:
-8534 -a,q1-2 May'12 — 1-6
93.-1 -8
1930 J - J
87 _ _ 10012 Sep '05
- -/i
7d
ir
rietor Fuel 1st a f Is
8 lor
__ 1E71)512 9812 Wash Water Pow 1st 5s
1939 J -J 103 ---- 104 May'12 ---a Iron Coal & Coke 1st 16 5s1949 fl- S 9612 96 95
, No price Friday: latest bid and asked aDue Jan clDue April eDue May gDue June hDue July kDae Aug oDue Oct dDue Nov qDue Dec :Option sale
LIN 1:1
CHICAGO STOCtC EXCHANGE-Stock Record-Daily, Weekly and Yearly
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Saturday
June 1
*30
*89
*92
*29
*812
*4
*19
*4612
*8
*42
36
92
95
30
912
5
20
4838
812
48
Monday
June 3
*30
*89
*90
*29
*812
*412
*19
*4612
814
*40
36
92
95
30
912
5
20
4838
9
46
Tuesday_
June 4
*30
*89
*90
*29
*812
*414
*1812
*4612
*814
*40
Wednesday
June 5
36
92
95
30
912
5
20
4838
9
46
*30
*89
*90
*2812
*812
*412
*1812
*4612
9
*44
36
92
95
29
912
5
20
4838
9
48
Thursday
June 6
Friday
June 7
Last Sale 39 May'12
Last Sale 90 May'12
Last Sale 93 May'12
2758 28
28
28
Last Sale 314 May'12
Last Sale 113 May'12
Last Sale 1812 May'12
Last Sale 50 May'12
*813 10
*812 10
Last Sale 16 Apr'12
3312 3538 3514 36
36
11614 11634 11578 11578 117
40012 40012 *350 ____ *400
_ *130
*130- *130
*55 -g8- *55 18 *55
*104 105 *104 106 *104
,*145 14512 *14512 146 *145
*61
64
*61
64
62
3712 3712 3612 37
36
3558 37
11618 11618 11812 11812 118 118
117
*400 ____
____ *400 -___ *400
Last Sale 135 Apr'12
---- *130
55
58
54 1412 55
34-Ma-y;
110 .104 110
Last Sale 155•7
14512 *145 14512 *14512 14612 14534 14534
62
*63
64
6314 64
Last Sale 17 Apr'12
9414 9414 -9412 95
9434 95
93
93
94
94
9478 95
62
62
*60
62
62
62
62
62
62
*60
6232 62
48
48
*4734 4812 4734 48
*4734 4812 *4734 4812 *4734 4812
Last Sale 142 May'12
*89113 195
20473 205
195 195
156- 161;- *195 196
196 200
140 140
*138 140
13814 13514 13834 13834 139 139
13814 139
1512 1512
*1434 15
*1434 15
*1514 1512
Jan'll
Last Sale 78
108 108
;•105r2 16112 10612 107 *i6i- 108
10712 1052 .107 108
10034 10034
*10012 101
101 101 *10012 101 *10012 101
67
6712 6712
6512 6512 6613 6612 67
6712 *6634 6712 67
120 120
122 12212 12238 12212 12112 12212
*70
72
*70
72
72
72
71
72
*70
*70
71
*70
*156 153
157 158 *156 158 *156 158 *156 158 '*156 158
Last Sale 13034May'12
*128 131 *123 131 .128 131 .128 131
Last Sale 120 May'12
,*118 120 .118 120 *118 120 .118 120
Last Sale 120 May'12
*118 120 *118 120 *118 120 *118 120
6312 931, *62
64
*62
61
*62
64
64
, *62
64 *62
Last Sale .60 May'12
9212 *90
9212
; ;66
- -911-2 *90
9212 ;55" ii1-2 ;66" I2-1-2 *90
11312
116
116 11612 11534 11534
111 113
11272 112,8
, 11112 112
; *80
8512 5512 85
85
84
*8312 85
*84
86
84
84
Last Sale 18
May'12
1/56- 1-61- ,i55 1-61- 10014 10038 10014 10014
jai" 1-61-- 100 100
*9912 10012 *9212 10012 ,,
1 9912 10012
*10112 102
Last Sale 10034May'12
18912 190.34 18812 18914
, 18278 18,114 15234 19912 189 19212 18014 191
12134 12434 *12412 125
125 12514
i 12112 123
*12412 125 ,
10514 10512 10512 10372 10534 10534 10518 10614 10614 10514 15-112 1143-4
285 285
*285 290 *285 290 *285 290 *235 290 .235 290
10914 10014 *109 10.314 *109 10014 *109 10914 *109 10014 *109 10914
15514 156
15434 155
*150 154
151 151
150 153
152 154
Last Sale 112 May'12
*1
118
114 114
114
114 *113 114 *118 114
6712 6838 6812 6812 6912 7014 7078 7018 7014
6573 8712 67
*10
*10
11
11
*10
11
*10
11
Last Sale 11 May'12
Sales
of the
Week
Shares.
Interest
Period
Price
Friday
June 7,
Week's
Range or
Last Sale
gifi
MU
105 g7ii.;
Lizocst.
Highest
32 Mch 19 40 Apr 24
90 May27 9334 Jan 20
93 Apr 4 10438 Jan 13
2758 J'ne 7 38 Jan 9
9 Mch22 11 Jan 12
4 May 0
678 Jan 13
1812 May21 21 May 1
49 Apr 3 5012 Jan 19
6 Mch28 1178 Apr lu
35 Jan 30 46 Apr 10
Miscenneous
100 1112 Jan 2 43 Mayll
2,050 American Can
Do pref
100 91 Feb 1 121 May 11
560
25 American Radiator 100 325 Feb 1 40013 J'ne 1
100 131 Jan 15 135 Apr 30
Do pref
75 Amer Shipbuliding___100 47 Mch 10 59 Apr ii
Do pref
100 100 Feb 6 10413 Jan 18
139 Jan 11 14878 Mob 17
50 Amer Telep & Teleg
39 alcii14 6912 May22
80 Booth Fisheries com
4312 Feb :.8 60 Jan 9
Voting trust ctf
Do 1st prof
77 Mch 14 95 J'ne 5
785
1,222 Cal & Chic Canal & D100 49 Feb 9 6558 May13
95 Chic Pneumatic Tool..100 44 Mch l5 5312 may 3
Chicago Telephone__ _100 13712 Jan 4 145 hich 9
349 Chicago Title & Trust.100 184 Jan 4 205 J'ne 7
59 Com monw'th-Ed!son _ 100 13514 Jan 4 150 Moll 7
10 Feb 13 1713 Apr 26
25 Corn Prod Ref Co com___
Do
do
pref_
127 Diamond Match
100 106 Jan 2 11134 Feb 5
95 Hart Shaffner & Marx Pr- 10038 Mch22 10212 hieh 8
197 Illinois Brick
100 56 Jan 9 6812 May27
1,010 Internat Harvester Co__ 106 Feb 14 12414 M ar2t)
25 Knickerbocker Ice pref_ _ 67 May 1 71 May21
100 143I Jan 15 16112 Apr 30
300 National Biscuit
100 126 Jan 15 13334 May21
Do pref
100 103 Mch 5 12108 May20
National Carbon
Do pref
100 115 Feb 16 120 Jan 2
100 Pacific Gas da El Co
z 6314 May29 s67 Apr 22
z.63 May 3 £.65 Apr 23
Do
rights
Do
preferred
1,262 People's Gas L63Coke_100 10312 Jan 2 118 May25
155 Pub Serv ot No III corn. x 84 Ilay29 x 0412 Apr 24
0.08 May19 r 112 Apr 24
Do rights
392
Do preferred
-- 2100 May31 210713 Apr 24
z 9912 Apr 2, z102 May a
Rumely Co, preferred_
4,064 Sears-Roebuck corn,,_100 140 Jan 5 104 May22
Do pref
100 12113 Jan 11 12514 J'ne 6
155
100 9834 Jan 2 10114 Apr 4
900 Swift & Co
10 The Quaker Oats Co,,.100 215 Jan 15 290 lAay28
110 Jan 15
Do pref
100 10513 Jan
23
£13534 May 8 £156 May21
755 Union Carbide Co
Do
e 314 May c
6 May22
rights
32 May 2
178 Jan 18
103 Unit Box Rd & P Co_100
5838 Feb 13 7234 Apr 26
2,135 United States Steel corn_
100 10 Jan 17 1418 Feb 7
Western Stone
Range for Previous
Year 1911,
1,,ncest.
21 J'ly
15 J'iy
80 Apr
2034 May
8 May
412 Mch
15 Sep
39 Sep
7 Dec
38 Nov
32 Dee
94 Nov
101 Aug
3773 Dec
1212 Aug
712 Aug
25 Feb
7212 Feb
1314 Feb
60 Jan
9 Jan
1212 May
7678 Jan
93 Deo
265 Jan 304 Ocs
12613 Mob 133 Nov
79 Feb
48 Nov
10612 Sep 113 May
13158 Aug 15214 J'ne
5 Apr
6914 Mel'
32 J'ne
5734 Mch
60 Sep
8838 Dec
4912 Apr
/2 Feb
6512 Feb
3912 Sep
115 Jan 14114 Nov
15113 Jan 180 Dec
113 Jan 13733,71y
934 Oct
1538 J'ne
78 Jan
78 Jan
9212 Feb 11034 Nov
100 Sep 10334 Dec
4978 Sep
70 Jan
9914 Sep 129 May
11714 Jan
123 Jan
100 Aug
117 Sep
14212 Dec
130 Mch
120 Mch
120 Mch
101
Sep
1085 Jan
12334 Sep
116 Sep
9734 Sep
165 Mob
10213 Feb
19234 Jan
122 Mob
104 J'ne
212 Dec
107123'1y
1 Dec
5012 Oct
13 Dec
7 Jan
8171 Feb
25 Jan
Chicago Banks and Trust Companies
EPds
Sold
Range
for
Year 1912
1114
Ask Low
Eitoil No. Lent, High
1/1
Apr'12
291
Am Tel & Tel coil 45 1929
J
91
Armour & Co 4 4s__1939 J • U
5 9138 9214
9134
91'
.8
8214 Apr'12
28214 8214
Auto Elea 1st M fis___1928
97
9518 May'12 -- 29618 9618
'Cal Gas&E1 unit & 0 55 '37 LI - N / 95
18 10134 103
'Chicago City /ty 58_1927
102 Sale 10178 102
9158
8818 10 88
8818
68818 Sale
Ohl City& Conilys 5s_d1927 A 9733 99
08% 9818 May'12
Chicago Elev lty 53_1914 J - J 198
J
92 May'12
92
95
92
90
,Ohio Poe Fool 1st 5s.a1921 J
A
f
S
:10314 Sale 100
10014 61 9973 10158
'Chic Ry 5s
Ohio itys
__series"
19A
21
'A 6 9614 9(134 9614
97
9833 18 96
9633 Jan'12
Chic Ry 45.....;erie3 "A" A 9614 9733
D -8814 gilt; 8618
Chic toys 4s...series "B" J
8733 37 8613 9158
-A
93
Chic Rys 43 __series "C"
1/4
9458 May'12
9334 9513
-A
Chic Rys coil 69_1914
100
100 100
Jan'12
- Chic Ry Pr m g 4s_c'27 J - I 7433
7614 32 7412 85
7112
Chia
AdjInc 43 c1921 Aayl
48
60
52
53 May'12
49
Chic 'fel etitioala 3s
1922
610112 Sale 10112 10153 23 10112 10314
9738 9938
00ero Gas Co ref GM 1932 J - J 9834 99
9938 May'12
10314 14 10214 10334
Commouw- Edison 68 1943 It - h 10314 Sale 103
- • 110234 Sale 10234 10234
10213 10334
. Commonw Elect 5801943
9978 10034
Cudahy Pack 1etM53_102, -N 110038 10312 10038 10038
4 107 11014
1920
6108 109
10812 10018
Dia Match Co aiu 6
x9958 9934
9934 Apr'12
Gen Mot 6% 1stL notes '15 Y:15
0.0114 10112
1952 ;4- N
10114 May'12
Ind Steel 1st g 5s
1st g 6s_1928
' Do
£10012 100
Int Ear 3 yr 5% g notes'15 F - A 110018 10058 10033 May'12
,
8
210518 10518
10518 Apr'12
bird St'l 1st 11 g 6s_1923
Kan City tty & Light
9414 Apr'12
Co 55
1913
9414 9414
-N
Lake St E9-1st 52-1928 J . J t 89 Sale
89
89
16 8714 90
Metr SJ Side El 1st 4s 1038
- A 6 8314 Sale
8314
8314 11 8314 8534
Extension g 4s____1038 J 82
83
8112 8208 8258 Llay'12
Mil El fly & L 1st g 55 1926 F -A 1103 10512 10473 Apr'12
210478 10473
do ref & eat 4 34s_1931• J 94
295
95
---- 95 Apr'12
1951 J -D t 94
do gen & ref 5s
9612
-551-8 Ma-y71.:
Gas Lt 1st g 4s...” 1927• N I 8912
58934 UOIg
Morril & Co.
I 8958 8934 8934
8934 10 8912 9014
,Nat Tube 1st g 5s____1952 M - N 2---- 10134 10034 May'12
£10034 10114
z10314 10314
Nor Sh El 1st g 53_1922 A - :103 10414 10314 Apr'12
do 1s. & ref g 5s__1040 A- 0 110038 10073 100.33 Apr'12
£10038 10038
Nor Sh Gas of Ill 1st 5.; '37 F - A 1-- 9718 9718 Apr'12
29718 9713
1911 sI Nona West El 1
100 July'll
NW GL & Coke Co 551928
-1-41)34 1-639934 100
'Ogden Gas 5*
11145 it- iNe
98 Sale
9712
98
88 9534 99
29178 9213
Pao Gas & El ref g 55..1942 J -J 6 9178 9212 92 Mir12
z100 10018
'Pao T OsT 1st col tr 5s 1037
9973 10038 100 May'12
Pearsons-Taft 55
lobo J 9813 ____ 10033 Mcif09
4.403
if95 -- 9613 Mch'10
814F
No
eb
v:ty
4.603 Series E
96 -- 97
A-N
-4.805 Series F
A- N
9712
116 0;1;
116 May'12
Peo Gas L & C 1st 65_1943 A Refunding g 5s____1947
1002 10214
I101s 1017 102 May'12
Chic Gas L&C 1st 551937 J - J 6103
10314 10334
10314 May'12
10213 103
Consum GSA 1st 5s_1936 J - :10312 10234 May'12
Mut'l Fuel Gas lst5s1947 IL -N 1034
10112 10112
10112 Jan'12
Pub Serv Co 1st ref g 53'56
99 May'12
29634 100
987
Bon Bell T & T 1st sf 53'41 J - J f 9934
0100 10014
10014 May'12
South Side Elev 4 As_1924 J
94
J I 9412 -9-5-1-2 0.112 May'12
9614
Swift & Co 1st g 5s___1914 J - J 610014 10058 10012 May'12
10014 10034
Tr -City fly & Lt coll tr
lien s f 5s
1923 A 9814 Apr'12
298
9738 ____
0814
Union El (Wow 53_1043 A 85
84
85 Apr'12
89
78
1:7 S Gypsum 1st g 53 1922 .11-S t____ 101
29973 100
100 May'12
U S Steel 10-60-yr sf g 5s.
510213 13238
110112 10278 10212 4tpr'12
Western Elec Co 5s
1922
10113 10112
10112 103
J 1____ 102
Mits.-Accrued Interest must be added to all Cuicago b ond prices.
.9213
Range for Year 1912
Railroads'
Chicago Eley Rys com___
Do pref
Chic Rys part ctf "1"___
400 Chic Rys part ctf "2"___
Chic Rys part ctf "3"___
Chic Rys part ctf "4"......
Kansas City By & Lt_100
Do pref
100
30 Streets W Stable C L_100
Do pref
100
Chicago Bond Record
BONDS
CHICAGO STOOK
EXCHANGE
Week. ending June 7,
STOCKS
CHICAGO STOCK
EXCHANGE
NAME
Out-stand,
iny
Sloe I
(1)
Surplus
and
Profits
(t)
Dividend Record
WIMP
In
1910
In Per- Last Paid.
1911 tod
9200,000 9170,283 Org. A pat 3 1911 V.92, p.1004'
American State
6
An Jan '11.6
n18,581
6
100,000
Calumet National
530,000 0208,637
10
J-J Jan '12,7
10
Chicago City
13
Q-J Mch30'12 Zs'
Conti'tal & Comas Nat _ 21 500,000 8,963,114
16
Corn Exchange Natlona. 3.1100,00() 5,906,830 16
Q-J July '12. 4
200,uu9
uougias State_
1,308 Seg. b 04 Slay 311 1. V.924•15311•
Drexel State
200,000
60,855
6
Q-J Apr '12.111
600.01.114
Drovers' Dop National _
463,831 10
10
Apr '12, 215
200,000
Englewood State
53,511
6
Apr '12, 2
(bt
10,110./.1400 11,556,724 12
First National
12 1.4-11 Mali '12 414 is
150,000
First Nat Englewood
205,761 10
12 (4-11 Mch31'12 212
Foreman Bros 13'leg Co _ 1,000,000
526,690
Priv ate 13a uk
Fort Dearborn National 2,000.000
644,232
8
1-1-J Apr '12. 2
111
1,500,000 1,401,478 8+2
Hibettilan
Ass'n
(1) 1-1-J
J-J Dee30'11)I
400000
142,98/ 10+15 10
Kaspar State Bank____
200.000
20,784 Beg. I) at Apr 811 Y.92,p, 1004
Lake View State.
278,001 deg. b us, Its r 10 Y.90, p.1277
La Saila St National.... 1,000,000
512,688 10
10 .444 s1ch30'11,21,
Live Stock Exclege Nat 1,250,000
8
Q-.1 me/430'12,V
Nat Bank of Republic__ 2,000,000 1,365,253
588,442
2,000,00.1
6
National City
6
Q-J Apr, '124 1
250,000
97,425
4
National Produce
6
Q-3 Apr '12. Di
74,1)1
Nortn Avenue State_
200,003
7
Q-J July '12, 182
634
40,218
North Side State Sav'es
50,1100
6
Q-.1 Apr '12.131
North Wzst State
33,208
201.1,001)
4
5
Q-J Apr '12,14
141,260
People's Stir Yds State_
31114,0110
934 Q-J Jan '12, 211
w Prairie State
53,623
500.000
6 Q-M Apr '12. 11E
Second
3,5/9 Beg, us.Nov 111 V.93, p.12311
200,000
136,490
SecuritySecurity
4(10,000
4)1
Q-J Apr '12. 112
2i/0,000
South Chicago Savings_
106,(/00
734
8
Q-J Apr '12.2
200,000
South Side State
14,017
(-I-i Apr '12t 112
State Bank of Chicago_ 1,51)0,000 2,200,588 12
12
Q-J Apr '12,3
250,000
206,507
8
8 Q-11 bleb awn;
Stock Yards Savings_
150,233
6 M.-1,1 May '12,3
Union Bank of Chicago..
u9,820
6
Washineton Park Nat'l
Apr '12, 112
100.000
23,042 None None Q-M Dec31'08,112
Wendell State
50,000
8
Q-J Apr '12,2
w Central Tr Co of Ili_
734
3,500,000 1,494,90u
251,281
6
Q-3 Apr '12,1112
ChicagoSay Bk & Tr
1,000.000
73.6
8
Q-J Apr '12, 2
Chicago Title & Trust
5,000.000 /2,031,511
16,325
6
10
Q-.4 Apr '12.3
Citizens Trust & Say.ngs
50,000
473,683 8+2 89-2 (4-.1 July '12;2l
Colonial Trust & Saving
600,000
....
Coat & Comm 'rr & Sav 3,000,000 1,273,450
161,321
8
Drovers"rrust&Savings
834 1.1-i Apr 712, 212
200,0140
16 Q-bi Dee30'11, 4
First Trust & Savings _ 5,000,000 1,646,208 12
13,094 Beg. b us.Apr 3' 11 V. 92, p. 929
Ft.Dearborn TrdaSay Bk
250,000
63,716 Beg. b us.Apr 8'12 V.94,p, 1030.
Franklin Trds Say Bank
200,000
131,544
234 (.1-.1 Apr '12, 212
GreenebaumSoasBlz & l'r 1,500,000
34,009
Guarantee Trust & Say.
Jan '12; 3
200,000
-12
7- Q-J Apr '1213
Harris Trust & Savings _ 1.5(40,000 2,029,648
Is us Apr 1.1 1 V.92,p.1004
62,961
Home Bank & Trust__
300,000
q Apr '12; 4
Illinois Trust & Savings 5,000,000 9,399,0/2 16+4 16+4
79,857 1+134
Kenwood Trust & Saves
7
Q-J Mch30'1113‘
200,000
58,971
5;t
(.1-,) Apr '12; Ili
Lake View Trust4Saygs
200,000
15
(.1-i Apr '1214
Aerchants' Loan daTr Co 3,000.0,10 6,492,518 12
61,368 Beg. It us. Oct '19'I 0Y91,p.1221
Michigan Ave Tr Co
200,000
78,547 Coin. b us. Ar r10' 11V92 p1004
Mid-City Tr & Say Bk_
500,000
8
Northern Trust Co
1,500,000 2,644,159
Q-J 51,31130 '111 2
121,908
6
North-Western Tr&Sav
250,000
8
J-J Jan '121 4
50,000 Beg. 11 uaJ'ne I'll V.92,p. 1531
& Say Bank
Old Colcny
200,000
162,691
People's Tr & Say Bk._
Apr '12. 2
5(10,000
245,825
Pullman Trust & Saves _
3110,000
8
Q-J Apr '12,2
37,401
Sheridan Tr 63 Say Bank
200,000
b us. J'iy 12'0 9 Y.89,1".141
345,182 Comm cooed bus. Sept 6 1910
Standard Tr & Savings,, 1,000,000
Stockmen's Trust & Say
200,000
46,720
6
J-J Jan '12j 3
fo)i
Union Trust Co
1,200,000 1,400,133 98+2 8+2 Q-M Uch30'1113
400,000
West Side Tr &SayBank
69,156
(1
8+2 Q-51 Apr '12; 2
Woodlawn Tr &Say Ban,
200,000
83,338
9;5 Q-J Apr '121 212
734
1F-E7S
deg.
•Bid and asked prices; no sales were made on this day. IAprill8 (close of business) for national banks and April 19 (opening of business) for State Institutions, I We
price Friday; latest price this week. I Sept. 1 1011. a Dividends not published. Block all acquired by the Cont. & Comm. Nat. Bank. a Due Dec. 31. 6 Due AU*.
9 Due Feb. d Due Jan. 1. k Also 20% in stock. n Feb. 20 1912. °April 22 1192. q Divideads are paid Q-J, with extra payments Q-F. $ A city. of 50% pald to 1911
on Security Bank stock, to provide capital for the new Second Security Bank, V. 93, p. 1235. 11.)ec. 30 1911. u March 19 11412. to 134% of this is a Sped41 41y1.
dead. to Prairie State Bank to beimerged into the central TrCo.: see V. 94, D. 1203, 957. z Sales reported beginning April 18.
JUNE 8 1912.1
1557
THE CHRONICLE
Indust and Misce11-(Con.) Bid Ask
80
50 70
01133 (kJ W) Co corn
bu 1221: 127 _
Preferred
290
100
Guar
Mtge
&
Bond
ilorden'a Cond hilik com 10( 128 iii"
TRANSACTIONS Al ME NEW YORK SruCK EXCHANGE
100 .:105 108
'AMY, WEEKLY ANO YEARLY.
Preferred
61g
1.)t) British Cot Copper Co ,o •8
11; 2
So casein Coot Amer com_1(lo
Baitroact.
Stocks
52
50
100
Preferred
40
U.S.
Slats
e.,
Week ending
2612 Casualty Co of America 100 115 130
Bonds.
Bonds.
Bondi.
Par Value.
Shares.
100 143 148
June 7 1912.
1)9 centric:ad Co
53
100 51
City Investing Co
62,000
$22,000
4847.00(.1
331,689 423,538,900
100 100 101
Saturday
Preferred
Short
-Term
5,000
Notes
56,000
1,736,500
24,440,200
278,837
90
100
....-corn
Monday
Co
13)
t
(H
Ciallin
10034
10038
Amal
A-0
Copper
1913
58
139,000
2.240,000
329.018 29,032,025
90
IOU
Tuesday
e let preferred
Bait Ja Ohio 400s 1013..1-1) 10014 ith0
155,000
1.880,000
545,414 46,31.8,900
90
10(.,
Wednesday
e 20 preferred
16,000 Bethieh Steel 6.1 1914 11-fs mos um'.
70,000
23121,500
53.010.100
604,288
Thursday
Ches dc Ohio 400 1914 __J-0 9914 .990 Consoi Car ileating---100 -CIO-- 63
62,000
2,070,000
395,138 35,852.800
18
100 15
Friday
9034 Consul Rubber Tire
Chic & Alton 5s 1913
M-s 93
59
100 55
U818 litii.
Preferred
8510,000 823,000 Chia Eiev Rys 5s 1914 _J-J
1218.758.975 $11,400,000
2.482.984
Total
Debenture 45 1951__A-0 155 60
Cin Ham & 1) 4s 1913__J-J 9912 100
Erie 6s April 8 1914....A-00 10014 00114 e Cruelbte Steel corn...JO° 1278 13
Jan. 1 to June 7.
Week ending June 7.
10() 883k 8634
e Preferred
Coll 56 Oct 1 1914_
A-0 9A ay.
Sales at
Stock
Coll 5s April 1 1915..-A-U 98/8 9918 Davis-Daly Copper Co....lo *2308 238.
New York
1911.
1912
1911.
1912.
100 108 109
eGeneral Motors ils '15.A&O 9978 IOU e Diamond Match Co
Exchange.
duPont( I) de Nem Pow 100 180 190
48,034,674 Hudson Companies2,682,748
64,049,803
06
2,482,984
100 95
e Preferred
F-A 8104 10014
Feb 1 1913
Stocks-No. shares__ _ $218,758,975
8912
8248,466,750 0,832,874,075 11,259,913,650
e Goad Ois 1936_J-D 89
(53 Oct 15 1913...A&O15 9934 10014
Par value
$1,023,700
$318.000
$50,700
10
$1,900
5
Int & Cit Nor 55 1914__F-A 9734 9814 Empire Steel & Iron corn 100
Bank shares, Par
45
40
100
Bonds.
Preferred
lt.M>4
Harvester 5s '15.F&A 10038
$143,500 Inter
9949,500
213,000
823,000
904 50)14 e General Chemical com_100 135 145
11
C
6e
Government bonds__
1912_11-s
Lt
Ity
&
63,256,000
11,778,500
2,957,500
510,000
e Preterred
191.3 F-A 90 95
State bonds
350,386,500 Minn & St L g 5.3
112 181
359.221,500
028'
18
11,400,000 22,873,500
Mo Ran & Tex 5a 1913 M-N 9912 993, ioodricn (13 F) Co' corn
RR. and mtge. bonds
10u 10814 10834
_
Preferre..
95 9512
J-D
5s
1914
Missouri
Pacific
8413,786,000
5371,949.500
811,933,000 $25,844,000
20 *1014 103g
Total bonds
Nat Rys of Mex 4303'13 J-D 9712 9812 Ureenc-cananea
ellYC Lines Eq Se 1912-23 04+2 4.4, Guggenheim Expior'n...103, 217 225
New Stock
400s Jan 1913-1925___J-.1 64,2% 4,0
DAILY TRANSACTIONS AT THE BOS FON AND PHILADELPHIA
EXCHANGES.
66
25 *54
400s Jan 1913-1927_ _J-J 0412% 4.40 e Hackensack Water CoRef g 45 '52 op 1912....J-J 8734 89
N Y Cent 400s 1914___M-S 10014 1001:.
Co....100
3
5
Tobacco
4
Havana
WI
5s
F
L
8
J-1)
St
&
1913
opt
100
8
995
Philadelphia.
Boston.
15
100 10
preierred
South Ity g be 1913____F-A 10038 111334
,
67 .
Week ending
90 94
lst g be June 1 1922 1-1) 1 64
400
Wabash
1913.__M-N
Bond
Untisted
Listed
Bond
Listed Unlisted
June 7 1912.
Westingh'se MI dr 11 Gs 1913 10118 1011: Hecker-Jones-Jeweil Miiiin0,
sates.
shares
shares,
sates
shares. shares
61-0 102 104 '
1st (is 1923
o 5% notes Oct 1917_A-0 9612 98
20 .
Herring-Hail-Marvin _ ,,100 10
836,240
5,791
3,873
512,000
11,444
6,344
t,
Improve
at
Land
turday
Hoboken
Railroad
42,500
1,798
6.517
81,000
12,841
17,136
104
/11-1s
1930
21
Monday
18
Nov
bs
let
61,500 •Chic & Alton com - 100
6,110
6,133
27,500
18,230
25,275
esday
Hocking Val Products 100 12 "11- i
100 2518 40
e Preferred
74,400
6,403
0.676
39,000
40,909
26,534
63
J-J 60
135
Wednesday
1st g 5s 1901
49,800 •Chic St PM & Om_ 100 129
6,238
5,440
41,000
48,028
41,680
1414
Thursday
100 14
Houston Oil corn ctls
100 152 101
e Preferred
130,500
6,828
7,247
64,000
40,743
28,338
Friday
42
Pref ctfs
e Colo & South corn., 100 39
14
5
66
6634
10
1
corn.
74
75
e
.J00
Ingersorl-Rand
100
preferred
6 let
33,188 8400,940
35,888
139,064 178,435 8281,500
Total
100 98
e Preferred
100 0612 68
e 2d preferred..
60 Intercontin Rub corn., 100 15 -if e N Y Chic dr St L coin --100 67
90 '
internal Banking Co._101) 85
11)0 103 112
e 1st preferred.
90 International Nickel...JOU 285 295 ,
100 84
a 2d preferred
109
1
luu
107
115
105
Preferred
Stubs..
Securities
Northern
1
2 104
0 100
All bond prices are now -and interest" except where marked "0"
00
1st g bs 1932
A135
Pitts Bess & Lake Erie. 50 *31
70 International Salt
50 *00
Bid Ask
Preferred
Street Railways-Won.)
A-t) 1 4812 51
181 g 58 1951
^ Railroad Securities CoBid Ask United itys or st
Street Railways
International Silver corn 100 WO ---.
8514 90
100 ---- 14
ll! C stk tr ctfs Ser A..,
rot tr ctls
100 127 129
8312 8412
Preferred
4512
as
1933../I-S
45
let
100
Pac
Weal
Prelerred
e
New York City
J-L) Ill
let tis 1948
100
25 Wash ity & El Co
Bleeck St & Ful Fy stic 100 20
Internet Smelt & Rag 2.10 123 fir
011
Stocks
Standard
IOU
Preferred
70
.1-0
1st mtge 49 1950
88
2312 Kayser (Julius) & Co. 10U 84
,e1 •23
J-11)
Anglo-American Oil
4s MI
170 180
B'y & 7th Ave stk
100 107 108
1st preferred
100 370 390
Atlantic Refining
Jdr.i 9034 10012 Electric, (las & Power Cos
20 ridge bs 1914
1110
2
1 .
44
01-a 3
125 300 e Lackawanna Steel,
100
Co
Borne-Scryinser
City
York
New
Broadway Surface RRe lot con bs 1950
50 *131 147
58 1927. _J-J 1088864211422 1:03L0141748 Buckeye Pipe Line Co
J&J 103 104 Cent On
let 58 1924
fil-s 9312 95
e Deb 5s 1915
Slfg cons 100 680 725
Chesebrough
131
100
Co
P
dc
L
El
Co
e
Kings
10
5
stock...100
94
100 93
Cent Crosstown
Lanston Monotype
100 130 170
Colonial Oil
98 __ _. New Amsterdam Gas1st mtge Os 1922_ __M-N
100 224 227
Lawyers' Mtge Co
100 800 300
1st consol os 1948 _ _J-J 102 10212 Continental Oil
15
10
013
0 .
538 252
50
242
Oen Pk N dr 13 Riv atock_10o
05 Lehigh Val Coal sales _2
10412 10614 Crescent Pipe Line Co .60 .65
J-J
58'44
1st
Gas
It
10
&
Y
N
140
132
lOu
elk
8t
h
Christopher&lOt
Madison Sq Gardm Stubs.. *212 712
75
Line_100 05
Pipe
103
101
Cumberland
J-3
1045
5s
Consoi
Trans.t
Dry Dock E 13 & BManhattan
302
292
.10u
Co
Pipe
Line
187
Eureka
182
100
L
J-11 99 10112 e N Y Mutual Gas
let gold 5s 1932
Nionongaireialt Con.C&C_50 *12
Galena-SIgnal 011 corn 101 r220 2.38
00
55 N Y & Q El L & Pow Co 100 55
43
F-A
Scrip bs 1914
70
50 *45
Preferred
100 z135 145
85
Preferred
100 7(3
Preferred
Righth Avenue stock._ 100 315 330
Mortgage Bond Co.....100 104 108
100
*90
_50
Pipe
Line
Co_
60
40
Indiana
100
F-A / 99 101 N Y & Richmond Gas
Scrip 68 1914
100 228 230
25 338 42 e National Surety
101 102
National Transit Co
61-N
1927
5s
let
Un
North'n
.310
285
_100
stook_
ky
St
Or
&
42d
New York Transit Co_ _100 x292 302 e New York Dock com 100 2012 _ -ITJJ. Standard Gas L corn...JOU 60
42d St M & St N Ave_ _100
49
100 40
e Preierred
- Northern Pipe LineCo...100 x108 116
100 90
Preferred
M-s /-17:7"
1st Os 1910
N Y Mtge & Security. 100 210 215
ab
25 *93
100
Ohio
011 Co
10412
M-N
1930
ter
/
11)15-...
751at
1
Jan
tis
Inc
2nd
6
20 *5
Transportation
Y
N
285
r255
Gas
100
&
Oil
Prairie
Other Cities.
sloth Avenue etock____100 1602 ii41
00
100 460 600 Niies-Bern-Pond com__100 88
88
Solar Refining
50 *86
0 Am Gas & Klee corn
Second Avenue stock _IOU
778
200 Nipissing Alines
100
100
Co
Line
48
Pipe
*46
Southern
50
is
Preferred
45
0A
1
lo
40
1
Consol 5s 1948 etts
1i11 **17•311
100 580 600 Ohio Copper Co
South Penn Oil
100 303 307
234
214
•Sixth Avenue stock. 10(J 125 135 Am Lt dc 'Frac corn
100
Sliver
Ontario
e
152
142
•
West Pa Pipe Lines_1(X)
108 110
Sou
100
Preferred
___
13.3
bs
13oulev
78
SoU
100 75
170 Otis Elevator corn
95 Amer Power & Lt corn _100 7112 73 , Standard 011 of Calif. .100 160
A-U 90
So Fer 1st Eis 1919
11./0 101 10212
Preferred
.100 218 222
IOU 8814 8714 Stand Oil of Indiana
Preferred
80
50 *812 9
Tarry WP & M 53'28...M &.0 f 78
of Hansas_100 195 z05 Pittsburgh Brewing
011
Standard
50
8
3
Gas
12
•
State
30
Bay
23
J
cttsA-0
& 29th kits 5s '90
60 *37
3714
Preferred
1(10
380
10(1
Kentucky.,
of
011
Stand
Wk
Gas
Y)
(N
. t3ingh'ton
enty-third St stock _1(10 250
100
pref..100
Steel
Pittsburgh
e
225
205
of
Nebraska_100
Stand Oil
A-0 98 101
1st g 55 1038
Union Ity 1st Si 1942 _F-A 104 105
RH) 30 -Jr
NJ (old).-100 860 880 Pope Mfg Co corn..
01101
b
Stand
3
_100
stoek
GM
City
Bunt°
00
80
77
Westchester let
100 74
Preferred
*380 .384
102
Stand 011 of N J
Yonkers St 1111 be 1946_ A-0 92 95 Cities Service Co corn..,100 99
100 98 10218
91
Standard Oil subsidiaries... 490 505 Pratt & Whitney pref
100 89
Preferred
Brooklyn
100 105 115
425 435 Producers Oil
N
of
Y....100
011
00
Standard
98
15s
J
1930...14
N
ot
Ga3
Con
103
101
Atlan Ave 11.11. con 5s'31A-O
Realty Assoc (l(klyn)._100 114 119
Standard 011 of Ohlo.....100 170 180
BB&WE bs 1033 ___A-0 90 100 Consumers' L U dr Pow100 210 215
125 Royal Bak Powd com
.75 2
IOU 1175
Swan & Finch.
J-D 100 102
tis 1938
Brooklyn City RR _ -10 168 170
100 10834 10934
Preferred
Denied).
(when
Warrants
(Minn.)Power
Consumers
Bklyn ligts 1st 5s 1941.A-0 1)9 102
101 10111
_100
pie!
Co
49
54
e
(Si)
Runway
LineCo....100
Tank
92
Union
1st&ref tis 192900'14_11-N 90
Bklyu Queens Co & Sub100 111112 1201
100 150 151 safety Car Heat & Lt
9712 Vacuum 011
96
e let g bs '41 op19111.J-.. 100 ____ Denver & El ba 1949.M-N
29 e Sears, Roebuck & Co 10() 188 190
*23
10
011
Washington
300
100
Co
Lt
Gas
9914 Elizabeth
1st con be '41 op '10 M-N
100 12212
a Preferred
100 1000 1500
Waters-Pierce 011
.100 fa'105 Essex & Hudson Gas. 100 143 140
Coney 1st & 13klyn
100 286 iir
Singer Mfg Co
100 8812 90
90 Um & kJ' Bergen Co
1st cons g 43 1948___J-J 80
1
2
Iron & S corn ____100
South
Stocks
Te;bacco
99
A
0
10
'15
L
G
1st
J-J
82 e Gr ltap
77
, Con g 4s 1955
4
2
100
Preferred
(See also Stock ExchangeList)
J-J 96 100 clr't West Pow tis 10413...J-J 8634 88
Brk C de N Se 1939
*2718 2714 Standard Coupler com 100 30 40
Tobac.£1
40
00
1
._
5
6
.
British-American
3
_13
l00
Gas,.
100
County
Hudson
pref
Elea
X11118101
,
100 108 112
Preferred
300
290
100
10518
Foil
Conley
105
11-N
A-0 102 itii"
e 1st 5a 1049
1st 5s 1944
218
26
614 6
20
00 5
10
10
47
*Helms ((leo W) com 100 163 185 e Standard Milling Co
Indiana Lighting Co.. 100 40
X WInsburg & Flatbushe Preferred
100 103 111
e Preferred
7314
F-A 72
4s 1058 opt
lst 43s July 1941..F&A 92
11-108612
1930.
58
let
e
190
175
100
Tin
Foil
&Metal
Johnson
50
Steinway let Os 1922....J-.1 100 10313 Indianapolis Gas
100 W" 89
85
MacAndrews & Forbes .100 183 185 Stern Bros pre:
A-0 80
1st g 53 1052
Other Cities
0t
10
Porto-Rican-Amer Tob_100 280 385 Studebaker Corp com
Jackson Gas bs g 1937 A-0 99 102
Buffalo Street ltya
2713
N14 95
Preferred
246
235
J)
Tobacco.100
(R
100
Reynolds
1st con.lol 511931___P-A 10412 105 eLaclede Gas preferred
100
pf
Co
100 101
Sons
&
Sulzberger
United Cigar Stores Corp100 242 247
Madlion Gas 6s 1926.-A-0 104 109
A-0 10434
Deb Os 1017
Paci8c Corti_ _100 99 103
&
xas
Ye
195
100
Co.
Bruton
•
9812
*3712
Weyman
.50
Co
El
(Prov)
Narragan
7914
8012
100
@Conn Ity & Ltg com
89
17::
e Preferred
100 100 iii- d Texas Pacific Land Tr.
100 80 82 Newark Gas (is Apr'44 Q-J 12034.
s Prefer red
10°°
(1 120 fir
lelansh Co of Ne
ttop
llii
i
.100 178 190
Young (J 8) Co
100 94 100
38 Newark Consol Gas
Federal Light dc 'frac_ 100 34
Bin
Yvada).....1
714
*7
10614
J-D
g
1948
5s
Con
e
7012
100
Preferred
4
7
Prenton Potteries com_100
Industrial and Miscellaneous
No!hid L & P 53 1938 A-0 100
Havana Elea lty corn 100 11012
55
100 50
Preferred new
100 8314 8334 Adams Exp g 4s 1917..J-D f 8638 87
Pacific Gas & E coin.
100 118
s Preferred
40
100 25
Directory
Trow
120
118
100
Alliance
4
91
013
100
Realty
Preferred
I Loulsv St 5s 1030_ _ _J-J 10514 10512
11
00 45 14
Union Typewriter com 100
51
Amer Bank Note com___50 •49
95
100 94
•New On Rys & Lt corn 1(10 3512 40 Pat & Pas Gas & E1ee
109
1st preferred
50 *5212 5.312
Preferred
M-S 103 104
e Con g tas 1049
78
100 76
e Preferred
IOU 109 112
preferred
2d
169
175
100
Book
American
J-J
St Joseph Gas 5s 1937
oN Y Wench & Bost Ity34 1
100
(Jolted Copper
100 133
2414 American Brass
9414
J-J 9973, 100 .3tandard Gas & Elec(Del).50 *12
let g 400s 1940
100
8
15
Preferred
50 *5014 5112 American Chicle corn., 10( 225 128
Preferred
0 Pub Serv Corp of N J-See Stk E c list
100
195
205
Casualty
8
U
108
105
100
Preferred
0113
2 183
14
03
02
Cony s t g 6s 1920 op..J-D 18
Tr otts 2% to 0% perpet 110 11012
100 98 105
Am Graphophone com 100 23 ___ U 8 Envelope coin
95
90 United Electric of N J..10(1 90
North Jersey St Hy 100 75
100 117 11911
Preferred
100 .
0214
8
Preferred
J-D
-M-N 82
let g 4s 1949
8212
lot 4s 1948
100 95 98 •
American Hardware...,100 as412 115 e U S Express
31
7012 Western Power corn.,.,100 30
Cons Tract of N J __ZOO 78
100 89
nl rhing
efiers
prF
95 :
US
Amer Maithag 63 1914 J-D 100 102
3-1) 10414 10434
60
100 59
Preferred
let be 1933
100 103 108 '
Preferred
77
100
Amer Press Assoc'n
108 1081: Western States Gas&EleeNew'k Pass Ry bs
.
J-J
100
105
g
1919
fis
1st
101
A-0
NS"
1935
65
Am Steel Fdy
1st & ref g 551941 op_J-D 9212 95
Rapid Tran it sty.., 100 235
J-J 93 98
72
F-A 69
Con g 53 1929
Deb 43 1923
A.0 103
telegraph and telephone
let 51 1921
3784
100 36
Alcohol.
315
50
Indust
e
325
S
U
Surety
American
76
100
0
.
e Amer Teieg & Cable
J C Bob & Paterson
100 98 103
_5 *412 5
e Preferred
American Thread pref
Sf-N 81
82 e Central & South Amer 100
4s g 1949
U S Steel Corporation48
Amer Typefounders com 100 40
11 81: 11205
1911
So J Gas El dr Tree. 100 130 133 Comm'i Un Tel(N Y)_25 1117
144
00
11
14
op
1951
5s
Apr
I
101
Cole
1))3
100
Preferred
75
MS 8914 9934 Empire Sr Bay State Te1.1(10 65
g 53 1953
m not 100 40 _64_0
e51
&511d9
Col s I Apr
M-N
991: 101
Deb g (is 1939
50
100 40
Franklin
No Hod Co fly tis 1914 J-J 10212
US Tit au
_J00
4
Paper
312
Writing
Amer
118
2
172
1031:
s
e
16
100
l'eleg
&
1
J-J
Stock
Gold
Con Al lei 1928
elst s f g fis'19 red 105.J-J 8938 8934 Westchester & Bronx Title
M-N 99 i(if" e Northwestern Teleg.....50 20
Ext tis 1924
100 160 166
& Mtge Guar
738 8
Atl Gulf & W 182 Lines 100
615
25
Pat ity con 061931 -1-D 117 120 Pacific & Atlantic
Wastingh'se Alr Brake. 5t) *170 172
14
100 13
Preferred
e
102
100
9934
Pao
pref
_100
&
A-0
Teleg
Telep
2s1 tie 1914 opt
8711
86
100
W)
Co
(F
Woolworth
65
1939
J-J
63
tis
g
tr
Coll
97
25 92
Republic fly & Light...10u 2612 28 Southern & Atlantic
100 118 118 .
Preferred
20
Barney & Smith Car com1031 10
100 7984 - - South Bell Teiep dc TeiegPreferred
pf.100 108 10812
)Co
80
Worthington(1111
70
100
.......
Preferred
97
100
1st
83
10012
g
103
1941
op
1910..J-J
Trent P & II Si 1943
price. I New stook. x Ex-dlY. V rEz-rig4I1_ _ .._j
a
•per !hare. 6 Bails. •Sails on Stook Exchange; ace sales-record on a preceding page. Flat Price. a Nominal. Sale
Volume of Business at Stocic Exchanges
Bid
Ferry Companies
B & N Y 1st (kr 1911___J-J 90
8
NY&ER Ferry stock.100
13-8 45
1st fts 1922
N Y & Hob bs May '40„3-1) 99
Bob ley 1st 531946_ M-0. 104
98
NY&NJ 56
10th & 23d Sts Ferry...100 25
let mtge 5s 1919
J-1) 60
Union Ferry stock
IOU 2312
1st bs 1920
M-N 97
Ask
05
15
55
9934
....
Inactive and Unlisted Securities
Er
BOSTON STOCK EXCHANGE-Stock Record, Daily, Weekly and Yearly
SHAW:: P141elIS-N07' Pale ca,N I UM PRICES
Saturany
June 1
M °nag!,
June 3
7 uesaau
June 4
eaneraau
June 5
7'auregaa
June
Friday
June 7
*10514 10512 10558 1055s *10613 10614 810638 10659 810758 10734
*10314 10312 10312 10334 810314 I03,7a *10318 10312 '1(314 10313 .iai; fa;
21512 21512 21512 21513 021512 217 .21534 218
21512 21513 21512 21512
*12712 128 *12712 128
12734 121'14 128 128
128 128
12778 128
205 205 *205 203
206 206
205 205 .205 209
205 205
*96
961: *96
9612
97
*96
9612 96
*96 .905 *96
96
297 297
_ *297
4297 -_ .2913 297
__ 0297
*13
15 *297*13
15
*13 -15
-- *13 -15
Last Salt 14 May'12
_ *78
*78
*--__ 78
80
80
_ *78
S.
*78_
101
--1-013 *____ 101:
Last Sale 1238 Jan'12
1012
*52
54
54
*52
Last Salt 52 May'12
54
54
*52
*52
*165 169 *165 169 *165 169 8165 169
Last Sale 169 May'12
*113 114 *___ 113 8__ 113
113
Last Sale 113 May'12
Last Salt 272 Apr'12
272
- 272 4.__ 272
12214 12214 8122 123
12212 123
12312 12313 123 123
123 12312
*124 125
12412 125
125 125
125 125 *124 125
125 125
*85
8534 *85
8534 8512 854 8512 8512 *85
86 *85
86
14378 14378 *14378
.143,8__ 014378
2012 2012 2012 -2-0-12
"21;1] 20 -2-012 2012 2012 2014 2014
. 87912 8012 *80
8012 8012 8013 27812 781. 7812 7812 78
79
135 13618 136 1364 13612 13634 13612 13612 13612 1364, r13434 135
Last Sale 14012 Ape12
Last Sal( 21312 Jan'12
7812 fERi" 176 176 *176 ___.
1-7I- 17518 fiEl; 17518 1751"9 147
a_ _ 60 *____
*
60 • _- 60
Last Salt 59 May'12
6°12
, 16i 16718 167 167
1681F 18834 16934 171 171
17014 17014
9012 90
*90
9014 *9038 9034 *9014 905s *9038 905/ *904 908
_ 8160___
160 160
.160
.160
•*160*8412 85
-- *8412 85
*8412 15
*8412 15
8412 -8-4-1-2 *8412 85
' 10012 10012 *10012 101
101 101 *10012 101
10012 10013 810012 101
6034 61
6112 611r 61
6112 6134 62
Cl 61
6178 62
10012 10012 10012 10012 10012 10012 10012 1007, 10012 1003 10012 10058
412 434
414 412
4
4
412 434
412 434
434 434
1714 1713
12618 12634
12114 12112
1914 14511
*1714 18
1714 1714
17
17
12613 12512 12712 1281r 12814 129
12212 1221. 122 12213 *121 122
1454 1453.1 14514 1454 14514 146
*28
2834
la; -654 Ii14
' 9214 1214 9214 9214 "a" "
*82
83
83
82
82
83
83
83
104 4.....- 104 *-- 104 8____ 104
. *738 8
738 738
738 738 *738 8
*13
14
14
*13
13
*13
14
14
1612 1614 1634 1014 1638
16
1614 1614
• 290 290
283 285
285 285 8283 286
..
16734 16812 16812 16914 16912 170
I -96
*9012 91
.14 -96-3-4 9014 9014 91
91
• 95
9412 95
*9412 95
95
9412 95
*221 223 *222
*222 224
_ _.*221
*314 4
9314 4
*314 4
*314 4
*-- 102 *- 102
102 *____ 102
*-_ 100 *___ 100 *--- 100
100
153
15212 153
152 152
152 152
*93 ---- *93
*93 _ _ _ - *93
__ _
15934 160
160 160
15912 1-60 15912 160
1612 1612 *16
17
*16
*16
17
17
10512 10512 10512 106
10534 106
106 106
28
28
2838
2814 2814 *28
2814 28
*2812 30
*28
30
30 *28
*29
30
232 212
238 238
218 214
238 25s
190 190
100 1904 190 19018 190 19012
*4912 50
4912 4912 4914 4917 4912 4934
2918 2914 29
2912 2914 2934 2914 2912
6812 6978
6614 6738 6678 6712 6778 681
*11014 11034 11118 11118 11078 110 • *11058 11118
9
*8
• *638 7
*4212 44
8133 8112
2812 2914
5
5
e.40 .50
714 738
48312 4
814 814
634 7
43
43
8218 8318
29
29
5
51
*.40 .50
712 712
4
4
3612 3634 "ii" 40
7414 75
74
7614
490 493
494 500
24
*2334 24
2934 2934 2978 3018
5.04 .06
.05 .06
58
5712 5712 58
512 512
512 534
1314 134 1352 1334
1218 1214 1214 1212
512 512
512 59143
5434
5312 54
53
978 10
934 1018
3234 33
3234 33
*138 112 *138 159
1812 19
1853 1918
1858 1858 1838 1858
5312 54 *52
54
00
*89
90
2734 28
28
29
212 212
233 21514
*134 2
134 134
38
3812 39
38
614 614 *614 612
1134 1134 1134 1134
*634 714 *634 712
10
10
10
1012
*2534 2614 Ws 2614
*3
3
314
3
6212 63
6212 6212
2114 2113 2134 2134
414 414
414 414
*712 734 *758 734
28
2812 2834 2834
6
6
6
614
418 438 *418 5
712 8
Vs 8
*5512 5612 5612 5678
11812 119
119 120
*1612 17
1612 17
87
87
88
88
1818 1812 1814 1858
312 334
338 338
1434 15
15
15
5.70 .80 8.70 .80
3212 3314 33
3312
2
2
218 218
*40
42
42
42
614 614
612 612
338 371e
312 312
3812
8818 3818 38
4858 49
4878 49
212 212
212 212
13
13
13
13
13318
6178 6178 63
*334 414
4
4
612 612
813 612
10912 10912 10912 10912
21,
21R
239
' * sari sa.4 umea praxis.
812 812
7
7
4412 45
8334 84
2914
29
54 534
*.40 .50
712
*7
4
414
9
613is
45
8378
2938
534
8.40
712
414
9
714
45
8534
2934
614
.50
812
414
17
1678 1678
17
12912 130
1297s 13078
122 122
122 122
14534 146
14534 146
Last Sale 2912 Mch'12
9238 9218 9212
92
83
*82
83
83
Last Sale 10334May 12
*738 8
738 78
14
*13
1312 1312
1534 1534 16
16
28434 285
285 285
17012
17018
16918 16912
91
91
91
91
9412 9412 95
95
22318 22318 *22018 22012
Last Sale 314 May'12
Last Sale 102 May'12
Last Sale 100 May'12
152 15213 *- --- 15212
Last Sale 90 Meh'12
160 160
15934 160
1638 1638 1638 1638
106 10618 210414 10434
2838 2838 2812 2812
29
29
*28
30
258 25s
212 258
19012 192
192 19214
4934 4934 50
51
2914 2912
7018 7078 "in" 761;
111 11118 111 111
913
718
4612
8612
2912
618
last
414
912 *8
9
738
738 712
4612 46
46
8734 8638 8714
2934 2934 3118
614
6
6
e .45858
May'491112
8
Sal914
488
Last Sale 23 411'0114
"io" 4212 -.Viz; WI 4334 4478 4314 4514
7412 7512 75
76
7814 27614 77
76
498 600
500 510
512 520
520 528
2412 25
2512 2534 2534 2614 2512 2614
3012 3078 3034 3338 3312 34
3312 3334
8.05 .06 8.05 .06 .06 .06 0..05 .08
60
0112 20012 61
60
5878 5878 69
6
6
6
6
534 6
6
6
1358 14
1378 1414 14
1412 14
1438
1214 1212 1238 13
1314 1312 1318 1312
512 558
558 51348
538 51
558 534
5312 5412 5412 56
50
57
513
5634
1018 1012 1044 1012
91518 1018 91518 10
3412
33
34
33
34
33
3412 34
112 112 *138 158
112 134
134 134
2012 2012 2114 2012 2012
1914 1934 20
1853 1858 *194 1912 19
1912 2014
19
5412 5478 5412 5812 5834 5912
5334 55
*89
8812 8812 8912 8912 *89
90
90
29
2958 2912 3014 3012 3112 3012 31
278
234 278
234 27s
278
278
278
*178
2
178 178
134
134 1'810 2118
40
4212
39
4014 42
4212 4234 42
7
714 8
7
*618 612
612 612
1214 12
12
13
1173 12
1258 1314
714 738
714 714
712 733
714 712
1038
11
1034
1012
1012
1012
1014 1138
264 2658 2612 2634 2638 2712 2712 2778
3
3
3
3
*3
*234 314
318
66
6412
66
67
6612 6612
65
83
22
2212 2234
2214 2212 2238 2234 23
414 434
434 434
414 438
414 434
ram, 71334 7133, 711
Vs
778
734 71418
2834 2912 2914 3155 3134 3258 3114 3134
7
*1314 634
738
738
714
7
7
5
5
412 412
434 434
734 87
8
8
734 8
734 8
5912 5912
60
5712 5914 5918 5912 59
120 12212 12112 12312 124 125
123 124
1612 1612 1614 17
17
1758 1712 19
914 9212 92
9014 92
9214
90
89
2918 20
19
2033 2012 2034
1812 19
4
44 412
418
4
4114
31118 4
1514 1512 1514 1512 1512 1534 1512 1534
.75 .75 *.80 .90 *.80 .90
.70 .70
3834 3712 3712
34
35
35
3714 37
2
2
2
214
24 234
258 234
4412 45
4512 4712 46
44
45
4612
8
8
8
814
612 634
814
7
312 312 *312 334
358 334
334 334
3612 3914 3834 3934 3934 4014 3934 40
4878 49
4878 49
49
49
4878 49
*2
21,. *212 234 *212 258
258 258
13
1312 1314 1331
1334 14
1312 1312
6312 6334 6334 6414 8434 6512 x6478 5478
5353 4
4
4
414 438
414 414
7
714
7
718
634 634
612 612
11012 111
11212 114
10812 110
114 115
2*.^
*2,
239
21. 239
Thi
258 279
a al it 40,64.t. *A,31 .A.4.4. Chi;X-$10.10 WY. /6
sales
81 the
Week
Shares
STOCKS
BOSTON STOOK
EXCHANGE
Railroads
2 Atch Top & Santa Fe_10,i
Do pre.
10u
102
47 Boston & Albany____ 105
100
83 Boston E,evated
IOU
56 Boston & Lowell
Boston & Maine
100
33 Boston & Providence_100
L.oston Suburban El COA..
Do prof
25
Boston & Worc Elec Cos..
pre,
Chic Juno Ity & USY. 100
Do prof
Connecticut liver... _100
100
107 Fitchburg, pref
165 Ga Ry & Elec stmpd_100
Do pre.
100
112
100
100 .daine Central
468 slags Electric..100
Do prel iltamped _100
218
677 N Y NH & Hartfora_IOU
Northern N H
1Uu
Norwich & Wor prat _100
IOU
220 Old Colony
Rutland pref
100
100
605 Union Pacinc
Do pre..
_103
25
22 Vermont & Mass,.. _109
5u
145 17'est Lad St
Do pref
5u
36
Miscallaneou
Amer An-ricul Chew,...100
D • prof
'00
Amer Pueu ServIc
50
Do (ref
50
Amer Sugar Refli....._100
Do prat
103
Amer
& 'lelog_100
Amer,can Woolou
10u
Do prof_100
218
171 Amoskeag Manufacturing
Do prof
184 Ati Gulf & W I SS L.100
Do pref
100
47
10
1,315 East Boston Land
100
683 Edison Eleo Illum
IOU
275 General Electric
•132 Massachusetts Gas Cof100
Do p-ef
IOU
134
10u
15 Mergenthaler LIno
Mexican Telephone_ 10
N IS Cotton Yarn
100
Do prof
100
100
159 N E Telophone
'ortiand (Me) Elec_
IOU
127 Pullman Co
45 Reece Sutton-Hole,. 10
IOU
931 Swift & Co
211 •forrington
Do pre*
25
7
1,610 CnIon Copper L Ic M 239
IOU
501 United Fruit
25
1,294 Un Shoe Mach Corp
Do prof
25
352
IOC
11,901 U S Steel Corp
Do prof
.100
220
Ramie fuzee .ennuaru 1
On Vans II 100-8hore tots
',truest
II tynest
10:179 Feb 10 110 Apr s
10112 Jan 12 10414 Feb 7
22212 Apr 3
21.912 J'ne
12734 May
13434 Mch
205 J'ne 1 218 Jan 4
96 M ay2a 10012 Jan 3
297 May a 300 Apr 27
1.3 May...
13 Jan
7: Jan 25 80 J'ne
12 Jan 6 1212 Jan (8
51 Mayli 67 Jan
105 May 0 170 Jan 19
10812 •Jaa 2 11: Feb 19
271 .fan
272 Jan la
12214 J'ne 1 128 Jan 25
1245; J'ne
z179 Apr
914 Jar) 0
85 .•3 ay i
142 Maylo 14733 May31
19 May 0 2318 4 tii
83 Feb 9,.
78 J'ne
13.312 May l..' 14238 Apr 2
14012 Sieh 10 143 Jan 24
21212 Jan 29
211
17518 J'ne 3 187 Jan 31
41 4..1 2 79 Jan 24
16312 Feb 1 17431 Apr 8,
90 J'ne 3 9212 Feb 8
164 Jan 10
160 Apr
83 Apr 15 88 Feb 2,
100 May 3 10312 Meli 10
Itanoe tor Previous
Yea, 1911
LOWCJ,
Ii tohest.
10058 Sep
101 Sep
219 Apr
12412 Sea
'207 Feb
1/012 Oct
292 Mt ti
12 Sep
70 Oct
6 Feb
:.;812 Jan
156 Apr
•101 Met)
265 Jan
125 Apr
2111(3 Jan
85 Feb
135 Sep
Id Apr
3
113
0
210
820: 11A1cli
16 blab
7614 J'ne
13 J'Iy
68 J'iy
171 Dec
115123'1y
272 J no
130 Jan
3164 Oct
9312 J'ne
215 Jan
24 J'ne
121.4 SOD
135 Jan
210 Jan
183 Mch
32 Jan
15312 Sep
itu Men
156 Dian
86 Say
103 Aug
15138 Feb
142 Itch
214 Nov
190 Nov
45 Deo
1024 J'iy
9518 May
15418 Dec
93 Mch
105 Jan
11514 J'ne
105 J'ne
226 Feb
,FS12 ug
2ep
6814 Feb 28
100 Apr 11
312 Mch 13
14 lich20
11434 Jan 10
11612 Jan 4
13712 Jan 2
25 Jan 31
86 Feb 6
77 Jan 3
100 Jan 2
7 Ja i 4
Li J'ne 3
1034 J,... 2
280 May2.
155 Jac 2
8834 May i
9312 Jan 6
218 Feb 1
212 Itch 14
10112 May-1
100 May 2
152 Jan 2
7212 Jan 17
158 Feb 1
1334 Jan 2
9812 Jan 2
27 May
28 Jan 6
.85 Jan 6
173 Jan 29
4614 Jan 16
2758 Jan 10
5858 Feb 13
10718 Feb 13
46 Sep
0334 Dec
6334 Mch 23
99 Jan
10514 Mch
105 Men:2
312 AuL
612 Jan
518 Jan 15
12(p Aug
1914 Jan
18 May31
13358 Mael. 112 Sep 122 Feb
1'23 Apr 6 11134 Jan 12018 May
149 Mch2a 13158 Aug 153(4 J'ne
2813 Dec
30 filch 22
3614 Itch
9414 Men 23
8512 Oct
17012 J'ne
84 May s
7712 Dec
81 Nov
105 Itch 213
ta) Dec 10012 Dec
9 Feb 14
738 Dec
11 May
20 Jan lb
14,12 Nu%
26 Jan
1714 May27
12 May
714 Jan
275 Sep 297 Dec
30) Men 2
17238 Apr 1. 142 Sep 1673, May
8734 Jan
9034 Aug
94 Mctllb
93 Dec
9812 Oct
9878 Feb 19
225 Jan 18 211 Jan 235 Aug
3 Oct
4 Jan 20
478 Jan
105 Jan 18 103 Oct 119 Mch
101 Nov 11612 Mch
107 Mch
164 Mch 14 13/ Jan 16512 Dec
6234 J'iy
90 Mch
7334 Nov
16512 Apr 21) 153 Sep 103 Jan
1738 Apr 11 zI2 Jan
16 May
9734 Sep 104 J'ne
109 Men 27
29 Sep
32 Jan 10
36 Jan
27 Mali
31 Apr 17
31 J • Ir
1118 Itch
334 Apr 8
84 May
.1178 Dec 19712 J'iy
19214 J'no
4014 Aug
6878 Feb
5314 Mch 13
2612 Sep
294 Apr 26
2914 Jan
60 Oct
8218 Feb
7314 Apr 30
111312 Sep 12012 Feb
11334 Mch 2,
Mining
Adventure Con
25
614 Mch 28
Aigomah
4S5 Jan 4
25
Allouer.
25 3814 Feb 1
Amalgamated Copper 100 60 Feb 1
•.m Zinc Lead & Lim_ 25 2412 Feb 15
Arizona Com'l ctis dep.
2 Jan 2
donanza Der Co
10 .49 alcia 1.1
614 Feb 1
11,120 Bos&CorbCopliS1151g 5
314 May24
2,065 Butte-Balaklava Cop_ 10
Butte Coalition
15 21343*.1 18
39,709 Butte& SupCop(Ltd) 10 1912 Feb 7
11,110 Calumet & ArIzon..._ 10 5712 Feb 1
25 405 Feb 1
531 Calumet & Hecia
25 1712 Jnn 6
945 Centennial
6 2,514 Feb 28
2,973 Chino Copper
1 .03 Mob 26
2,150 Cons Mercur Gold_
2,399 kApper Range, Con Co 100 50 Jan 31
20
5 Jan 19
657 Daly-West
4,184 East Butte Cop Min_ 10 1214 Jan 15
25 1112 Jan 15
3,010 Franklin
418 Feb 27
6,530 airoux Consolidated
5
3,556 Granby Consolidated 100 33 Feb a
712 Feb 29
20
15,773 Greene Cananca
1,500 Hancock Consolidated 25 29 Jan 6
1 Jan 3
25
2,065 Helvetia Copper
23 1138 Jan 16
2,493 Indiana Mining
1,270 Inspiration Consol C 20 18 Feb 6
4,100 Island Creek Coal__ I 4012 Jan 17
Do prof
1 85 Jan 13
100
11,607 Isle Royale Copper.„ 25 2034 Jan 16
2 Apr 9
5
1,621, Kerr Lake
25 .80 Jul 2
1,145 Keweenaw Copper
25 3212 Feb 1
5,178 Luke Copper Co
419 Feb 15
23
2,165 La Salle Copper
9,320 Mason Valley MInes_..5 104 Feb 8
634 May27
25
1,465 aiaas Consol
234 Jan 3
25
2,770 .dayllower
5 2338 Jan 29
2,010 Miami Copper
2 Jan 2
25
215 Michigan
25 5012 Jan 30
1,099 Mohawk
2,124 Nevada Consolidated.. 5 1814 Jan 29
314 Feb 8
1,640 Neil Arcadian Copper 25
5
534 Jan 3
695 NIpissing Mines
15 2234 Feb I
8,983 North Butte
614 Jan 30
25
835 North Lake
418 J'ne 1
23
450 0 ibway Mining
258 Jan 2
25
5,120 Old Colony
Jan 31
44
Dominion
Old
25
Co
2,755
25 106 Jan 15
1,210 Osceola
10 15 Mch 27
7,668 Pond Creek Coal
25 7312 Jan 29
1,580 t,,ncy
5,473 ay Cansol Copper_ 10 1018 Jan 29
1 Jan 31
6,005 Santa Fe Gold & Cop_ 10
9 Jan 31
10
3,893 Shannon
70 South Utah M & S
5 .60 Feb 1
25 24 Feb 1
3,802 -aiperlor
114 May24
4,765 Super.or& 1308.•ni :din 10
25 26 Jan 31
765 Tamarack
5 Jan 15
25
1,945 Trinity
318 May15
1
1,470 Tuolumne Copper
7,989 U S Smelt Ref & Min_ 50 34 Jan 31
prat
D
50 47 Jan 11
663
2 May21
5
340 Utah-Apex Mining
2,941 Utah Consolidated- 5 1234 Apr a
10 524 Jan 29
630 1, tali Copper Co
378 M.ay22
23
645 Via oria
612 Jan 25
25
1,700 Winona
25 9434 Jan 29
431 Wolverine
1.360 1,47, ,11 • ott
25
134 •Tan 5
,C-1%.1113. a Atx-,31Y, itt11 riauts.
U 1111.1alpad.
1114 Apr 20
718 J'ne
4 Sep
213 Oct
814 May 2
11 J'ne
21 Aug
50 Apr 1.
4414 Dec
8734 J'ne
7168 J'ne
4434 Sep
1934 Oct
3134 Apr 20
3058 J'ne
138 Dec
678 Apr 2
Vie Dec
.55 Apr 11 .30 Oct .75 May
334 Atia
1512 May
914 J'ne 6
3 Nov
612 Jan
534 Apr k
14 Aug
2338 Jan 3
2312 Dec
4514 J'ne
45 Sep
6334 Deo
7814 J'ne 6
360 Sep 546 Jan
528 J'ne
Aug
2712 Apr la
19 Dec
1638 Sep
34 J'ne 6
2712 Dec
.09 Jan 19 .03 Nov .15 J'ne
664 Apr ii
41134 Sep
61734 Feb
712 Itch 27
3 Feb
7 Dec
1538 Apr II • 878 Aug
104 J'ne
512 Aug
1614 Apr 1
14 J'ne
1311i0Apr
338 Sea
81s Feb
6014 Apr 26
!.6 Aug
934 J'ne
1012 J'ne 6
Pio Oct
858 Dec
3618 May
17 Sep
3112 Dec
2 May e
2 Feb
34 Sep
23 Apr 24
16 J'ne
514 Oct
2158 Jan 24
21)14 May
5912 J'ne 7
44 Dec
8218 Sop
0012 May17
91 J'ne
3112 J'ne 6
1112 Aug
23 Dec
258 Oct
318 Feb 13
na Jan
3 May 8
12 Nov
384 J'ne
22 Aug
49 Apr 18.
40 J'ne
8 Apr 17
3 Aug
6 Jan
1334 Man 2i,
612 Apr
1173 Dec
914 Jan 4
412 Aug 310 J'ne
1812 Apr 23
20 Feb
310 Deo
2778 J'no 7
1078 Sep
2433 Dee
512 Apr 20
313 Jan
114 Nov
6711 Apr lb
36 Apr
67 Dec
2314 May 1
15 Sep
2114 J'ne
614 Apr 10
2 Au;
414 Aor
858 Meh
2612 Dec
1133 Feb
35 Apr 11
20 Sep
3814 J'ne
834 Apr 22
934 J'ne
334 Aug
e634 Jan 11
358 Dec
812 J'ne
1314 May 1 .10 Jan
313 J'ly
00 J'ne
3414 Sep
49 J'ne
125 J'ne
81 Sep 124 Jan
19 J'ne
93 Apr 20
55 Sep
76 Dec
2034 Apr 2
12 Sep
19 Dec
478 May2,,
134 J'no
84 Apr
1534 Apr 2
1214 Feb
7 Oct
111.Mar
114 Apr 3
12 Dec
4212 Jan
39 Apr 20
20 Oct
814 J'ne
478 Jan 13
al* Oar
62 Jan
51 Apr lb
20 Sep
512 Dec
912 Apr 1,
278 Oct
478 Mae
4111. Meh 26
134 Sep
4018 J'ne
3038 Sep
4034 Apr 11
4912 J'ne
4614 Aug
4914 Meh 28
312J'ae
178 Nov
311t, Feb 0
20 J'ne
1034 Jan
2038 Apr 2
5758 Dee
33 Sep
6512 J'ne 0
418 Dec
1 Aug
678 Jan 20
912 Feb
334 Nov
734 Men 1
74 Nov 122 Fab
117 Apr 17
2 Feb
314 Mch 4 .30 Nov
525
627
339
583
1,111
304
2,474
495
2,110
1,090
15,131
11,287
13,274
a
1559
Boston Bond Record
JuNE 8 1912.1
:3 8
BONDS
BOSTON STOCK EXCHANGE k't
7
June
Ending
Week
Price
Friday
June 7
Hanoi
Sitted
Jan. 1.
Wea'r
Range or
SCI46
Pr.ce
Fri ay
June 7
BONDS
BOSTON STOCK EXCHANGE
Week Ending June 7
Ask Loto
High No Low H.o.
5 10114 10234 aeneral Motors 1st 5-yr 6s_1915 A-0
112
102
653-4 Sale liOts
90S, 81 0018 9114 Ut Nor C B & Q coil tr 4s_1921 J -J
1921
Registered 43
1.083411534
114 115 11334 May'12
1913 A-0
II:RIM Steel debcn 5s
89;8 90
90
8.1.s
La
1917 A-0
&
Falls
C
7s
121
Sioux
1st
103
D
120
124
Sale
124
Kan C Olin & Spr 1st 53
1: 51 82
82
73
1023 1-0
9934 Kan C Ft Scott & Mem 63_1928 11- N
9918 May'12 ____
9812 90
1934 91- S
_ 91 9218 Kan C it & B gen 4s
9014 9114 91 Mch'12
1034
S
Assented income is
0038 913,
1,014 9114 903s May.12
1U81810817 Kan C & M Hy & Br lit 54_192s •A- 3
10818 Alch 12
Marq Hough & Ont 1st Os_ 192 A -0
_
8 Mch '11
110,
1921, J -J
61
3 13- 1814 Mass Gas 4 ;Ss
63 Sale 63
191, J J
95 9518 Mich Telephone 1st 5s
---- 9518 Feb '12
New Eng Cotton Yarn 5s_1929 F -A
10014 Itch
------- 19412001 'OS
New Eng Tel .ph 5s
lulu 40
_
53
1912 A-0
1943 -J
93 -9-5-- New England cons g 5s
95 Feb 12
193u 4-0
Boston Term 1st 4s
103 1031s
10318 Apr '10
New River (The) cony 5s_1934 3-3
111,8 Sep '11
9214 3 Y N 11 & H con deb 3 30_193., J J
911,,
9112 0134 .1112
Cony deb 69
1948 J J
1103 ()et 'U.
/
F- A
1 2 991. Old Colony gold 4s
J-1-89
--;
(
9312 Meh'12
078 101)
112 Oregon fly & Nay con tr 43_1940 J I)
LA 17073 Apr 12 ___ D018
1922 F - A
Oreg Sla Line 1st g es
0i)7 Feb '12
9812 98158 Pere Marquette deb g O3_112 J -J
Mch 12
_
- - - - ))812
1919 J -J
itcpub Valley 1st s f 6s
s Fieab:11:1
8979118
May
__ -8-63; -8-74 Savannah Elec 1st cons 5s 1952 J -J
1936 F A
is
g
1st
Elec
Seattle
10034
i:
4
1013
1:1034 101 10114
10114
lols, it-N
.3hannon-Ariz 1st g 6s
89 91
9012 Sale )012
901s
1921) J -J
rerre Haute Eiec g is
114 Jan '11
1s18 11- S
rorrington 1st g is
11338 Feb '11
Union Pac it Ft & I gr g 43_1947 J -J
A May 12
102/ J J
20-year cony 45
07 101
97 Apr '12
1923 J -J
United Fruit gen s f 4 3Ss
i,712Sep '11
1925
J
44s
Debenture
10014 Asg'0'.
0914 11:3- U S Steel Co 10-60-yr 5s Apr 1933 11-N
100 ____ 100 May'12
1015
A
1
,
4s
fly
Street
End
West
8614
80
::::
May'12
8J
1314 .13-S
Gold 4 30
99
3 9834 9914
1916 11- N
Gold debenture 4s
10313 Apr '03
1917 -A
4s
Gold
96 Apr 'Os
1932 J -J
12712 Iien•12 ..-- 127121271:: Western Teleph & Tel 5s
---- • 127 Mch '12 -___ 127 12710 Wisconsin Cent 1st gen 4s 1949 1- J
Ind
Am Agrioul Chem 1st 5a___1928 A-0
Am Telop as Tel coil tr 4.1_1929 J -J
1936
Convertible 4s
Am Writ Paper 1st s 1 5s g 1919 J J
11-N
Am Zinc L & S deb es
e 15
Ariz Coin Cop 1st 6s ctfs of(119PAtch Top & S Fe gen g 4s 1992 A
Adjustment g 43____Ju.y 1993 Nov
Juiy 19)2 11-N
Stamped
1955 3-1)
DO-year cony 4s
1017 JD
10-year cony 5s
All Gulf as W I SS Lines 55_1959 3-i
,11-N
Boston Eiev 30-yr g
1910 J -J
Boston & Lowell 4s
1044 J -J
Boston & Maine 4 Iss
_ 193. F-A
Improvement 4s__
1942 P-A
Plain 4.,
Isle J -J
Os
cons
RN
Mo
Bur &
Cedar Rap & Mo It 1st 7s10Iu .11-N
Cent Vermt 1st ir 4s__ _May 102u (4-F
11119 A-0
C li & Q Iowa Div 1st is
1912 A-0
Iowa Div let 45
1910 11- N
Debenture 5s
1922 F• A
Denver Exten 44
1027 M-N
Nebraska Exten 45
1921 ;1- S
II &SWsi 4s
1940 -J
Illinois Div 3
Chic Jct fly & Stk Yds 5s_1915 33
Coll trust refunding g 43_1910 A-0
Ch 5111w & St P Dub D 63_1020 J -J
J
Ch M & St P Wis V div Os_ 1020
Ch & No Mich 1st gu 5s__1031 M-N
1921 J -I)
Chic & W Mich gen is
Concord & Mont cons 45_13)20 J-1)
Cudahy Pack (The) 1st g is 1024 11-N
1926 A-0
Current River 1st 53
1942 A-0
Det Gr Rap & W 1st 45
1940 11-N
Dominion Coai 1st 51 53
1915 .11-S
Fitchburg 48
1927 11- S
4s
Fremt Elk &Mo V 1st 6s_1933 A-0
Unstamned 1 -t as
1933 A-0
NOTI.C.-Buysr pays accrued int2r3st in add.tion to the purcaase price .or all Boston Bonds
• NJ
Rang: rr
Last Sal)
mg/. No
Ask Low
9914 Feb '12
14
i2
961., 6
- Sale 9614
9614
9638 is
1.10381 ,038 10038 May'1.
117 Apr '08
97 Mils I:
117 11618 May'12
9212 ---- 0212 Alch 12
sill.
81 85 s 6.2
103 ____ 10234 May'12
115 .1'ne'0s
983,
98 99 1,812
- 10018 Apr '1.
1
98 981, 98
101$8 Mch'11
111012 Sep 'Oh ___.
9978Jan "2
bid
Dec75
- ii
9214 Mch'12
132 Mch'12
101 Apr •.).J
9818 Sep •
11334Feb '12
93 Jan '12
103 Jan 1.1
7014 Dec '10
10314 MaY'lSM4 10
9814 Sale 00
97 Apr '07
1)034
1 )034
1001. &len 12 -._10178 May'12 _-__
9658 May 12
-titT5g97
9.1":.
, 9534
9512 95102 May'12
99 May'''.
10014 Feb 12
9878 Apr 'D9812Nov'll
to1
45
101 Sale 10014
93:- Feb 12
- -- pr.ce Friday* ism t old sod a.sx.3d, ij nat
Range
Since I
Jan. L
Lots I1fol4
9914 9914
9638 9812
4
1
9(414 97/
10012 10014;
9(412 97
118 11712
92 9212
85 89
1021211)234
98 -C/9-1;
10018 10018
9612 99
9934 9973
[1214 9233
13134 13212
1133411334
95 95
--114-- 1-051;
8312 9834
4 1004
1;(5.31001210058
10178 10178
9558 9718
9512 0612
10158104
99 9918
10014 10014
19-1-2111-9358 9358
price.
Philadelphia and Baltimore Stock Exchanges-Stock Record, Daily,'Veekly, Yearly
sitars Prier 3-Not Per ee.iruns
Saturday
June 1.
Monday
June 3.
2618
5514
24
Wednesday
June 5.
7'hursday
June 8.
Friday
June 7.
__ ____ .116 117
117
11318 11312 1131., '113 114
1334 *11
1234
13
1438
6614 *6612 67
613
66
.1g
:1..28
1 A*
.
.
!
5132
97
,t 1Ns
4 ;2-5-32 /6--21- -i.i1-4 25-1551: *5534 56
55
55
55
55
55
55
55
2414 *24
2414
2418 2418 2414 2414 2418 2414 *24
1,116
...._ ___ 0112
1234
1234 13
6614 6614
66
26
55
24
Tuesday
June 4.
11712 -------- --9116
1131: .112 ____ 113
1258
1258 1234
1234
6634 66
6614 66
-ia-
4-3-3-4
34 -Zit 13-3-4 %Hit.
4 73-.
.
:::: ;451
4314
43
43
43
4278 4278 43
1214 1214 *1214 ____
____ *1214 ____
6512 *55
5512 5534 5534 5534 56
1978
1912 1934 19
20
20
20
6211
62
63
6334 8338 6312 62
-433-4
4314
1214
56
19
6212
4 411: 4312
13-34312 4314 4338
1214 *1214
56
56
56
1912 1978 20
6234 *6212 6314
3134 31
3114 *3034 311.
3012 3112 31
8912 8951.
8912 8912 8918 891., 8912 891
8538 8512 8538 8512 8618 8618 87710 8712
13
13
1314 1314
13
1318
13
13
2914 2911.
2912 2912 2912 2912 2914 30
6112 61"i5 6112 611126 6158 617, sluts 6113ts
5114 5112 511.
5112 51
5112 51
*51
2114 2138 2114 2138 2114 2138 2138 2138
23
23
*2278 23
23
23
2278 23
B213is 8334s 83.1s 8312 835ts 84346 8438 8538
7
7
7
7
7
7
7
7
5114 5114 5114 5114 5158 5158 5178 52
8814 8814 8818 8818 8818 8838
88
88
3034
8938
88
1335
2934
6134
5134
2138
2278
86
7
5178
8814
3034 *3012 31
8951., *8914 90
88
8738 8758
1312 1312 1334
30
30
30
6218 6178 62111)
52
5134 52
2138 2138 2178
23
2278 23
8014 3558 8515D)
7
7
Vie
517s x5012 5008
8838 8834 8918
*4314
4234
*1214
5512
20
6334
PHILADELPHIA
A3k
Inactive Stocks
112 134
10
American MillIng
50'
Cambria Iron
--12 -85
'
31
E3
Central Coal & Coke 100 4
100 8012 81
Preferred
100 7614
Consol Trac of N J
50
Germantown Pass
Huntington 4, El T____59
-if • Preferred
Indiana Union Tr___ _DA)
21 WI:,
• Insurance Cool N A _li
Inter Sm Pow & Chem_5u
Interstate Itys pref__ lu
Kentucky Securities_ 100 .
-2 -3312
1112.
• Preferred
100
Keystone Telep v t c_.50
51.)
Preterred
Keystone Watch Case_luu
.10 1712 ____
Llt Brothers
5(3
Little Schuylkill
50 5712 ___
MInchili ec Schuyl 11
Nat Gas Eicc Lt & Po 100 30 ____
I 00 80
Preferred
• North Pennsylvania_ 50
Pennsylvania Salt
fSu 103 104 67
Pennsylvania Steel_.109 .
Preferred
120
100
Phila Co (Pitts) pref___5) 4314 433.
Phil German & Norrls_51
152
_
50 -8.3. 8414
Phila. Traction
10
Railways Genera,
91- IU
Tonopati Belmont Dev_I 1018 1014
United Cos of N J____100
United Trac Pltts pret..50
Virgin's By & Pow_..100
100
Preferred
Warwick iron & Steel_ IU 10
Wash!ngton-Va By_ 100
100
_
Preierred
100
Weisbach Co
West Jersey & Sea Sh__50 5212 .-Westmoreiand Coal_-50 80
Wilkes Gas & Elec--100
5 -112
York Railway
321:
50 31
Preferred
!Did and asked; no sales on tills day
Did
PHILADELPHIA
Bonds
Prices 43'1 all "and
Interest'
Alt & f, V Elec 4 Iis'33F-A
Am Gas & Elec is'07.F-A
Am !Ws 5s 1917
A-0
AU Gas 1st s f is '60_ -J-J
lierg&EBrew 1st 6821 J-J
liettileh Steel es 19118_Q-F
Choc se Me 1st 5s 1949.34
Ok & G gen 5. 1919 J-J
Coo Trac of N J 1st 53 '32
Del Co ltys tr ate 48'49J-J
Eiec & Peoples Tr tr
Fr TacSell 1st is 1940.3-3
Gen Asphalt 50 1916_M-S
Indianan 11y 4s 1933__J-J
interstate 43 1943-F-A
Keystone Tel is 1935,14
Lake Sup Corp Inc 53'24_0
Lenigh Nay 4 3Ss '14__Q-J
Gen M 4 Iss g 1924_Q-F
Leh V C 1st is g 1933.34
Leh V est 43 1st 1948_J-D
JD
Conso es 1923
J-D
Consol 4 94i5 1923
J-D
Annuity es
Gen eons s 2003....M-N
Leh V 'Fran con 43 '35 J-D
1st series A 4s 1935_81-S
1st series 11 is 1935 81-S
SlarketStEl 1st 4s'55 M-N
NatLII&P ser II 5s '19 J-J
New Con Gas is 1948_J-D
N 1' Ph de No 1st 4s'39 J-J
Income 4S 1939___111-N
Pa & N Y Can 5s '39_A-0
Penn Steel 1st is '17_111-N
People's Tr tr ctfs 4s 1943
P Co lst&col tr 5s'4t1 U-S
Con 4, coil tr is '51 11-N
Pith Elec gold tr etfs_A-()
Trust Ms 45 1949 ...J-J
P & 10ren M is g '20_A
A-0
Gen NI 45 g 1920
11 Ex-di v.& rights.
Range 8.nce
January 1
Sales
ACTIVE STOCKS
co the
Week (For Bonds and Inactive
Stocks see boloioi
Shares
Loweut
Hiyhest
64 Jan
89 Jan
7 Aids
45 Feb
121 Jan
20 Jan
33 Jan
1613 Jan
9512 Dec
101 Sep
10 Aug
79 J'iy
13034 J'ne
27 J'ne
60 Nov
1978 J'ly
5 Nov
7 Jan 10
112 Mayl,
42 Jan
4314 Mayol 4512 Feb 1
4078 Sets
4434 Men 28
9112 Men
1178 Feb 2 1214 Jan '29
11)2 Jan
5234 Jan 16 5634 Mch21
4812 Jan
2812 MHZ
18 Apr 2 3314 Jan 0
73 Jan 0
65 Aug
5934 Apr
638 Dec
6 Apr 4 81tis Jan 5
2714 Jan 3 33 Apr 15
2112 Sep
8778 Itch 20 91 Apr.6
8312 J'ne
7534 Sep
7818 Feb 6 92713 J.111 10
614 Jan
812 Jan 3 1334 J'ne ;
1812 Jan
23 Jan 12 3012 May27
5938 Sep
61146 Jan 27 6.31es Apr 20
4814 Set)
5013 Jan 11 6614 Feb lb
1312 Nov
61678 Jan 2 21,8 J'ne ;
2218 May 6 2438Jan 25
17 Apr
7414 Jan 11 9914 Apr 30 66194s Sep
512 J'iv
634 Jan 11
814 Apr 15
4934 Feb 28 5214 Jan 26
43 Jan
8414 Sep
8614 Jau 11 8934 Apr 26
1712 Jan
4612 Nov
214
183
4
2 Feb
Jan
5618 J'ne
4O
318
897
3
t
Jacu
Lowest
Highest
Baltimore
Con Gas El L & Pow_100
100
pret
Do
133
3,800 Houston Oh tr ctfc_109
IOU
pre
etfs
tr
r
Do
388
50
22 Northern Centra,
158 Seaboard Air Line_100
10.
pre
Do
508
250 United By as Electric- L9
96 Jan 0 117 May
101 Jan 2 116 Apr 3
8)4 Jan 3 1414 Niay20
6334 Jan 25 67 May16
127 Feb 26 130 Apr b
2714 May24
2212 Aten i
5512 May25
4512 Sin la
2412 May21
1814 Jan
Philadelphia
50
American Cement
166 American Italiways„ 50
50
Steel
Cambria
204
60 Electric Co of America 10
419 Elec Storage Battery_100
100
1,830 Gen Asphalt tr ctfs
pret tr etts_100
Do
1,150
Keystone Telephone_ 50
2,043 Lake Superior Corp I00
50
300 Leh C & Nay tr ctfs
50
555 Lehigh Valley
3,125 Lehigh Valley Transit 50
50
Do pref
711
50
2,409 Pennsylvania HR
704 PhIladel Co(Pittsb) _ 50
25
3,184 Philadelphia Elea
1,600 Phil R T vol tr ctIs_ 50
50
7,730 Reading
1
3,195 Tonopah Mining
50
2,021 Union Traction
59
1,450 Union Gas lmpt
Ask
PHILADELPHIA
Ph & Read 211 is 1933 A-0
Ex Imp SI 45 1947_A-0
Termin..1 552 1941-Q4
P W & 13 col tr 4s '21__J-J
- 8714 Read Trac let 6 '33__J-J
-8678
96 ____ Hoch By & L con 55'54 J-J
9314 Spanish-Am Ir 86 '27__J-J
Stand Gas & E 68'26_J-D
.
: Stand SD Wks Ist55'28 J-J
11612:L
11 Trac Ind gen 5s '194-J
Un itys Tr ctIs 43'49_3-3
.--- United Rye Inv let coil ti
s f 53 192681-N
Welsbach s f 5s 1930J-D
8712 88
W11-13 G&E con 5i'55_J-J
_
York Rye 1st is 1937_J-D
s
-833.
BALTIMORE
6-'2.3-4 63
Inactive Stocks
__
78. Ala Cons Coal & Iron_100
8377
100
Preferred
- Atlan Coast L (Conn)_IOU
10334
100
. Canton Co
ifig34
106
Georgia Sou & Fla
100
let preferred
jig" iigii
109
2d preferred
100
iii.'lid - G-B-S Brewlng
98 981s Pullman Cons Ventil 10u
100
Preferred
Bonds
____ ---Prices ar3 all "and
--_
2interest"
971J-J
iod - Bait City 3 145 1930
45 1954-1955___Various
1.1-N
9814 ____
is 1916
Anacostia & Potom is A-0
_
ifei- 114 - AtCoast L cony deb 4s31-N
Atl Coast L(Ct)ctfs 5s J-D
Ctfs of Indebt 4.8..___J-J
_
J-J
NI" 10312
5-20-yr 45 1925
BS P &C 1st 4 ,i3'53 F-A
97
Halt Trac 1st 58 '29__M-N
1033-4 1.14
No Bait Div 5s 19423 D
8218 83
10512 ____ Car Pow & Lt '53 1938 F-A
1.)0 ___ Cent Hy cons 5s '32__M-N
f *13 paid.
t 413 )4 paid.
hang ior Precious
Year (1911)
1
4
819
Ad:i
BALI'IMORE
'32 MS
C By Fixt&Imp
Chas City By I t 5s'23 J-J
114 Hi) Chas By (I & El 56 '99 81-s
991: 100 City & Sub 1st is 1922 3-13
& Sub(Was)1st 53 '46
Coal & C By lit Ss '19 A-0
4
.
1653
Coal & I By let '20_F-A
ColdeGrnv 1st 65 1916 J-'s
10012
Consca Gas 5.3 1939___J-D
Gen 494s
Cons C E & P 4345 '35 J-J
Fair & CI Tr 1st 5s'38 A-0
Ga & Aia 1st con 53'45 J-J
831. 84
Gs CaraGN 1st is g
Georgia P 1st es 1922 __J-9
Ga•so de Fla 1st Ss '45_J-J
G-B-S Brew 3-4s '51_81-s
Knoxv Trac 1st is '28 A-0
Macon-11y &Lt lit 58'53 J-2
Sid Eiec By 1st 58'31_A-()
53
J
Memphis St LA 55
25
Mt Ver Cot Duck 1st 5s__
267
Npt N & U P 1st as'3881-N
Nor&Port Tr 1st 5s'38 J-1.)
30
North Cent sjis 192J-A-u
95
sores A 5c 1926____J-J
80
Series II 58 1.026___J-9
P tt Un 'frac Si 1997__J-J
20 30
Val 1st 5_, 11141._J-,,
Poto
891. 93
also Fla & IVest 5.,'34 A-U
Scab Air L 4s 1950___A-u
Adjust 5s 19411____F-A
Scab & Roan 53 11120__J-3
931:
South Bound 1st 5s__A-u
993„
103 10334 U El L&P let 4 I4s'29 1A-N
100 lo0i, Un ay & El 1st 4$ '49 81-b
193
Income 4s 1949___J-D
103
Funding 53 1936_3-D
-..- Va MA 3d ser es '16._81-s
921- ---4th ser 3-4-53 192I_M-S
90 97
5th series is 1926__M-s
193) 1)61 Va (State) 3s new '32..1-.1.
1091
Fund debt 2-3s 1991 J-J
West N C con Os 1914_34
Wit & Weld Sc 1935___J--1
417 ;.‘ paid.
11334
913 Jan
32 Feb
98 Jan
,1768 Dec
931
Oct
2538 Oct
65 Feb
6914 J'n•
18 J'ly
2418 Aug
8034 Feb
858Jan
5234 Aug
8938 Jan
Bid
Ash
106 109
103
9512
1033.1 for
10334 10414
10117
9434
jai 10834
9734 98
8934 90
100 10012
105 106
105
11178 flit;
106 107
53 8334
10434
10034
9712 9812
76 7512
9912
8918 8914
104
109
109
105
109
87
8712
111147-8 108
10712
94 -17iCs
8434 eds
6434 6514
8912 90
Uri"
[VoL. Lxxxxrv.
THE CHRONICLE
1560
Anuestment
and Ataitroad ilntettigence.
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEA VI railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
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 electric railways are brought together separately on a subsequent page.
Latest Gross Earnings.
ROADS.
Week or
Month
Current
Year.
Previous
Year.
Latest Gross Earnings.
July 1 to Latest Date.
Current
Year.
Previous
Year.
Ala N 0 & Tex Pac5
62,000 3,299,314 3,102,935
69,000
N 0 & Nor East.. 1st wk May
Ala & Vicksburg. 1st wk May
17,000
25,000 1,425,447 1,542,600
Vicks Shrev & Pa 1st wk May
8,000
19,000 1,247,634 1,302,016
87,784 2,060,353 1,802,623
Ann Arbor
39,272
Id wk May
9,186,291 3,907,748 89,869,954 90,440,659
Atch Topeka & S Fe April
56,517
49,030 2,937,680 2,528,050
Atlanta Birm & Atl 3d wk May
3,199,191 2,835,442 28,037,118 26,702,012
Atlantic Coast Line April
177,594 162,116 1,662,684 1,642,807
Chariest'n FeW Car April
88,929 1,074,015 1,017,558
Louis Hen & St L April
100,007
g Baltimore & Ohio April
7,580,078 6,888,218 76,026,494 73,165,258
B & 0 Ch Ter RR April
125,204 113,119 1,288,436 1,227,301
Bangor & Aroostook April
276,327 264,224 2,868,305 2,638,947
April
Boston & Maine
3,755,653 3,504,662 38,159,392 37,062,240
47,273
Bridgeton & Saco R April
3,906
3,236
43,270
Buff Hoch & Pittsb_ 4th wkMay 329,723 246,336 8,691,032 8,429,676
Buffalo & Susq
April
95,635 183,526 1,970,161 1,955,607
Canadian Northern_ 1th wkMay 588,700 437,200 17,769,100 13,733,000
Canadian Pacific
4th wkMay 3,625,000 3,124,000 111780 723 94,487,098
Central of Georgia
4th wkMay 302,900 298,200 12,960,480 12,017,982
Central New Engl'd April
291,462 286,259 2,914,826 2,629,111
Cent of New Jersey.. April
1,757,546 2,457,832 21,830,906 24,197,800
Central Vermont...._ April
347,195 321,173 3,397,631 3,271,978
Ches & Ohio Lines_ 4th wkMay 938,719 888,369 31,338,223 29,888,864
Chicago & Alton.. 4th wkMay 271,830 305,758 13,373,047 13,305,496
6,726,131 6,423,311 73,188,166 74,328.217
Chic Burl & Quincy April
p Chic Great West 4th wkMay 262,873 272,556 11,604,348 11,580,013
Chic Ind 40 Louisv. 4th wk May 162,578 179,321 5,9.18,597 5,660,385
5,054,242 4,771,763 52,859,122 54,753,053
Chic Milw & St Paul April
1,415,268 1,131,599 13,231,060 12,081,784
Chic Mil & Pug Sd April
5,838,542 5,751,577 63,332,036 64,777,859
vChlo & North West April
1,171,152 1,135,397 12,808,526 13,777,745
April
aChic St Paul M &
182,338 145,787 1,406,194 1,578,938
March _ _ _ _
Chic T II & S E
Cln Ham & Dayton April ___.: 702,748 750,603 8,221,158 7,923,498
126,071 121,666 1,557,957 1,621,706
Colorado Midland_ _ April
b Colorado & South.. 4th wkMay 335,689 353,588 13,002,725 14,763,705
135,773
15,653
161,088
Cornwall
April
13,945
253,417
23,258
24,446
228,868
Cornwall & Lebanon ,qarch
396,723 301483 3,119,580 2,529,189
Cuba Railroad
pril
Delaware & Hudson April
1,136,290 1,754,927 17,544,128 17,384,388
Del Lack & West_ April
2,140,904 2,928,107 29,834,315 29,626,399
Deny 60 Rio Grande 4th wkMay
- 616,800 631,200 21,334,430 21,482,933
4,340,422
Western Pacific
pril
443,843
84,665
872,793
Denver N W & Pac_ April
60,618 1,015,346
29,069
29,202 1,577,137 1,632,766
Detroit Tol & Irma 3d wk May
31,469
28,966 1,134,605 1,080,727
Detroit & Mackinac 4th wkMay
5,805,519
164,837 269,348 4,923,938
Dul & Iron Range_ _ April
90,031 100,836 2,852,253 2,870,160
Dul Sou Shore& AU 4th wkMay
912,012 647,441 8,455,895 6,657,677
Elgin Joliet & East_ April
668,941 558,433 5,249,643 6,016,673
El Paso & Sou West April
3,773,514 4,399,630 47,177,726 40,905,336
April
Eric
1,803
3,853
21,401
17,871
Starch
Fairchild & N E
508,112 575,489 3,637,068 3,567,520
Florida East Coast_ April
74,201
72,846
704,098
701,441
• Fonda Johns dc Glov March
268,652 242,260 2,912,633 2,761,845
Georgia Railroad_ April _
, Grand Trunk Syst.._ 4th wkMay 1,512,857 1,341,847 45,069,282 41,159,885
Grand Trk West.. 3d wk May 122,947 119,146 5,925,970 5,585,528
39,448
37,910 2,002,146 1,0,30,272
•
Det Gr Hay & Mil 3d wk May
38,747 1,866,025 1,700,882
Canada Atlantic.. 3d wk May
42,947
5,662,233 5,037,181 60,324,611 55,696,867
Great Northern Syst ay
161,931 160,154 1,661,669 1,685,010
Gulf & Ship Island_ April
pril
349,454 480,578 5,984,636 6,021,715
Hocking Valley
4,248,759 4,770,859 48,926,546 52,513,754
April
'Illinois Central_
'Internat & Gt Nor.. 4th wkMay 260,000 236,000 0,571,744 8,475,741
Interoceanio Mex. 4th witMay 333,432 192,897 8,127,683 8,078,648
arch...._.. 211,063 235,952 2,360,324 2,352,091
Kanawha & Walt_ _
718,823 738,920 7,860,515 8,558,965
;Kansas City South.. April
K C Mex & Orient.._ February _ 132,959 140,105 1,215,802 1,314,111
1,924,229 3,187,411 30,956,032 30,480,157
pril
Lehigh Valley __
53,506
48,944
458,604
427,285
Lexington & East.._ April
133,175 113,248 1,214,373 1,209,180
Louisiana & Arkan_ pril
s Louisvillo & Nash.. 4th wkMay 1,446,160 1,372,922 51,793,553 49,879,245
143,258
10,369
12,199
136,315
Macon & Birm'hara April
823,570 767,945 8,875,019 8,203,525
April
Maine Central
36,814
326,604
326,529
35,903
Maryland & Penna.. March
a Mexican Railway_ 3d wk May 158,100 154,100 7,391,500 7,727,000
699,637
684,243
18,171
19,684
th wkMay
Mineral Range
Minn Se St Louis.... 4th wkMay 178,494 158,015 7,251,105 7,919,050
Iowa Central...._.1
Minn St P Se 58 M 4th wk May 531,593 511,815 24,098,303 20.071,782
Chicago Division I
74,135
733,010
67,925
769,369
Mississippi Central.. April
u Mo Hans & Team 4th wkMay 681,545 712,891 26,067,483 26,879,126
Missouri Pacific_
4th wkMay 1,563,000 1,471,000 50,090,613 48,652,200
1,073,713 1,026,780 10,161,868 10,314,117
Nashv Chatt & St April
a Na;Rys of Mex _t_ th wkMay 1,059,898 1,273,267 56,628,610 56,502,565
324,947
9,090
6,893
295,582
Nevada-Cal-Oregon 3d wk May
129,419 154,314 1,221,488 1,270,066
N 0 Great Northern March
N 0 Mobile & Chic_ March........ 171,604 164,291 1,464,267 1,401,558
8,084,827 8,369,124 87,863,035 84,454,791
s N Y C & Hud lily pril
Lake Shore & M S April
4,044,474 3,764,571 42,083,375 40,588,783
n Lake Erie & W. April
414,989 392,471 4,667,112 4,624,287
Chic Ind 40 South April
285,407 $20,253 3,360,450 3,078,241
2,679,099 2,366,387 26,203,844 25,034,125
Michigan Central. April
2,346,916 2,399,154 25,742,006 25,773,446
Cleve C C & St L_ April
222,377 226,662 2,657,963 2,997,119
Peoria Fe Eastern April
114,008
79,578 1,130,702 1,053,906
Cincinnati North.. April
1,071,258 1,130,947 13,344,021 13,148,844
Pitts & Lake Erie April
912,087 907,675 9,602,804 9,349,122
Y'Chic & St L.. April
247,146 334,908 4,320,394 4,232,455
Tol & Ohio Cent _ April
Tot all lines above April
20422 588 20291 740 220975 799 214336 132
ROADS.
11 eeic or
Month.
Current
Year.
July 1 to Latest Date.
Previous
Current
Year.Year.
Previous
Year.
5,451,477 5,155,362 53,623,453 51,400,905
NYNH & Hartf__ April
355,773 607,781 7,265,135 7,706,358
N Y Ont & West__ April
188,281 347,713 ,3,139,143 3,216,378
N Y Susq & West_ April
315,209 261,831 2,680,688 2,439,448
April
Norfolk Southern
3,508,856 2,836,585 32,752,960 29,710,665
Norfolk & Western April
5,201,647 5,008,952 52,781,061 54,760,720
Northern Pacific__ April
April
598,452 627,804 6,267,256 6,524,518
Pacific Coast Co_
13291 728 12617 245 135932 834 131071 434
Pennsylvania BR.... April
223,321
228,384
16,867
Bait Chas &Atian April
20,978
Cumberland Vail_ April
263,649 236,165 2,481,773 2,547,300
Long Island
814,037 809,630 8,717,642 8,172,872
April
109,914
111,790
8,670
7,797
Maryl'd Del it Va April
284,123 267,929 2,738,200 2,776,682
N Y Phila & Nonf April
912,330 1,102,356 10,544,392 10,760,184
Northern Central. April
1,620,970 1,552,414 15,875,549 15,784,298
Phila Balt& Wash April
484,042 479,945 5,240,425 5,071,204
W Jersey & Seash April
4,021,487 3,991,511 43,942,924 43,558,407
Pennsylvania Co__ April
459,734 389,916 4,347,766 4,336,296
Grand Rap & Ind April
3,281,405 2,924,924 33,829,208 32,718,118
Pitts C C & St L.. April
Vandalla
April
672,224 778,477 8,436,810 8,854,862
Total lines18668 707 18080060 192866 311 187638 297
East Pitts & E_ April
8,536,412 8,172,670 13,477,387 92,127,620
West Pitts & E April
27205 119 26252 729 286343 701 279765 918
All East& West April
1,380,251 1,242,662 13,978,727 13,362,968
April
Pere Marquette_
Reading Company2,987,466 3,981,690 38,292,311 37,780,326
Phila. & Reading_ April
Coal & Iron Co.. April
903,718 4,789,521 31,825,554 29,255,715
3,891,184 8,771,211 70,117,865 67,038,040
Total both cos_
April
Rich Fred & Potora April
245,183 237,484 2,057,589 1,923,908
71,609
751,859
Rio Grande Juno__ March
60,076
748,378
42,821
503,284
Rio Grande South_ 3d wk May
9,252
10,280
4,874,232 5,054,192 53,736,789 57,191,448
Rock Island Lines__ April
Rutland
April
277,640 273,957 2,853,977 2;838,047
St Jos & Grand Isi_ April
131,549 129,981 1,317,114 1,430,049
St Louis & San Fran April
2,950,033 3,172,880 35,334,893 36,540,978
(Chic & East III_ April
968,964 1,113,653 12,973,502 12,093,663
Total all lines..
April
3,918,997 4,286,533 48,308,394 49,234,641
St L Rocky Mt & P April
148,070 167,228 1,665,814 1,778,071
St Louis Southwest_ 4th wkMay $01,000 273,000 11,053,872 11,040,938
791,323 773,345 7,349,199 6,706,968
San Ped L A & S L.. April
Seaboard Air Line__ 3d wk May 423,378 413,619 20,566,818 19,546,740
10487057 10130221 109951394 111529780
Southern Pacific, Co April
Southern Railway__ 4th wkMay 1,618,933 1,548,686 58,601,072 55,824,037
Mobile & Ohio...... 4th wkMay 334,274 324,837 10,266,666 10,281,021
Cin N 0 le Tex P.. 3d wit May 209,918 171,581 8,601,058 8,155,750
Ala Great South_ 3d wk May
83,437 4,244,013 4,003,193
93,011
40,313 2,204,242 2.157,932
Georgia Sou & Fla 3d wk May
43,625
Spok Portl & Seatt_ March ___ 381,170 429,658 3,046,023 3,402,406
89,112
95,461
2,291
Penn Ala & Georgia 3d wk May
2,695
130,814 123,155 1,265,262 1,253,868
Tennessee Central._ April
Texas & Pacific____ 4th wkMay 389,245 378,346 15,850,241 14,805,773
72,603
79,788
8,578
Tidewater & West April
7,867
Toledo Peor & West 4th whMay
40,018 1,167,364 1,182,337
35,424
82,785
85,682 3,569,178 3,459,911
Toledo St L & West 4th wkMay
Union Pacific Syst_ April
6,908,578 6,671,606 72,097,501 74,892,411
Virginia & So West_ April
139,658 101,260 1,446,962 1,135,231
415,401 309,653 3,985,488 2,948,267
Virginian
April
Wabash
March -__ 2,201,081 2,37.,.!42 21,574,981 22,702,215
Western Maryland April
620,706 589,789 6,016,431 5,986,636
Wheel (SG Lake Erie.. April
380.003 533,697 6,196,445 6,530,965
Wrightsv & Tennille April
23,876
313,467
292,018
28,476
Yazoo & Miss Valley April
571,334 774,605 8,292,528 9,277,443
Various Fiscal Years.
Pertod.
Jan
Delaware & Hudson
N Y Central & Hudson River_e_ Jan
Lake Shore & Michigan South Jan
Jan
Lake Erie & Western_n
Chicago Indiana & Southern.. Jan
Jan
Michigan Central
Cleve Cin Chicago & St Louis_ Jan
Jan
Peoria 40 Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh & Lake Erie
New York Chicago & St Louis Jan
Jan
Toledo & Ohio Central
Jan
Total all lines
Jan
Pennsylvania Railroad
Baltimore Chesap & Atlantic_ Jan
Jan
Cumberland Valley
Jan
Long Island
Maryland Delaware& Virginia Jan
N Y Philadelphia & Norfolk.. Jan
Jan
Northern Central
Philadelphia Bait & Wash...._ Jan
Jan
West Jersey & Seashore
Jan
Pennsylvania Company
Grand Rapids & Indiana_.... Jan
Pittsb amain Chic & St Louis Jan
Vandalla
Jan
Total lines-East Pitts & Eric Jan
West Pitts& Erie Jan
All lines E le W.. Jan
Dec
Rio Grande Junction
Rutland
Jan
Texas h Pacific
Jan
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
alch
Apr
May
Curren,
Year
Previous
Year.
30 6,410,210 6,622,323
30 32,716,830 31,517,111
30 16,467,424 14,881,700
30 1,770,460 1,681,844
30 1,410,686 1,264,332
30 10,008,769 9,326,714
30 9,735,977 9,531,711
30 1,003,959 1,052,809
30
422,790
349,595
30 4,972,758 4,379,767
30 3,736,603 3,659,769
30 1,490,021 1,309,155
80 83,826,289 78,854,507
30 53,771,104 10,163,010
30
60,098
58,579
30
981,724
910,784
30 2,883,286 2,717,758
30
26,534
28,254
30 1,010,101 1,002,642
30 4,006,328 4,099,826
30 6,080,643 5,825,160
30 1,580,146 1,514,026
30 10,471,744 15,155,376
30 1,661,262 1,610,326
30 13,330,889 11,845,416
30 8,236,479 3,202,416
30 73,796,332 68,713,153
30 35,084,781 32,158,754
30 108881 113 100871 906
267,402
31
270,249
30 1,011,092
974,557
31 6.644,407 5,860,644
•
II
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Weekly Summaries.
Cuent Year Prev's Year Inc. or Dec.
Monthly Summaries.
Cur'nt Year Prey's year Inc. or Dec.
0111
Mileage. Cur.Yr. Prey.Yr,
3
3
•
244,508 240,088 231,688,006 233,169,887 -1,481,881 0.65
+694.648 5.32 July
3d week Mch (41 roads) _
13,740,405 13,045,757
4th week Mch (30 roado)____ 10,490,029 19,247,710
+248,310 1,29
August
244,531 240,170 253,043,102 254,888,944 -1,843,842 0.72
+507,987 0.19
+909,911 6.89 September 245,491 240,825257,256,762 256,748,775
1st week Apr (43 roads)---- 14,119,697 13.209,786
October ......245,633 241,321 266.064,129 263,637,350 +2,426,773 0.03
2d week April (41 roads)
13,858,411 12,560,991 +1,207,420 10.33
ad week April (41 roads)...._.. 13,710,625 12,722,657
+987,968 7.76
November _234,209 231,563 241,343,763 213,111,388 -1,767,625 0.73
December ....238,561 235,635 233,614,912 232,275,177 +1,339,735 0.57
4th week April (41 roads)........ 13,315,005 15,689,657 +2,625,438 16.73
.1st week May (42 roads)........ 13,332,998 12,078,139 +1,254,859 10.42
January ......237,888 234,402210,704,771 213,145,078 -2,440,307 1.14
2d week May (40 roads).-___ 13,539,914 12,337,158 +1,202,756 9.75
February _237,082 233,191,218,031,091 197,278,939 +20,752455 10.53
3d week May (43 roads)........ 14,007,892 12,432,657 +1,575,235 12.67 March
238,218 234,692(237,564,332 224,608,654 +12,955,678 5.77
4thweek May (34 roads)____ 18,281,221 18,816,670 +1,464,551 8.71
April
84,961i 64,096,256 58,452,774 +5,643,482 9.86
86,559
a Mexican currency. S Does not hick de earnings of Colorado Springs & Cripple Creek District By. from Nov 1 1911; in 1010 these returni
Includes
the
Boston & Albany, the New York & Ottawa, the St. Lawrence & AdIrondac%c and the Ottawa & N. Y. Ry.. the latter
are Included. ,9
at which, being a Canadian road, does not make returns to the Inter State Commerce Commission. f Includes Evansville & Terre IIaute and Evans..
Villa & Indiana RR. a Includes the Cleveland Lorain & Wheeling By. iu both years. n Includes the Northern Ohio RR. p Includes earnings of
Mason city & Ft. Dodge and Wisconsin Minnesota & pacific. s Includes Louisville & Atlantic and the Frankfort & Cincinnati. I Includes tha
Mexican International from July 1910. u Includes the Texas Central. v Includes not only operating revenues, but also all other receipts.
which
Latest Gross Earnings by Weeks.-In the table fourth
follows we sum up separately the earnings for the 8.71%
week of May. The table covers 34 roads and shows
increase in the aggregate over the same week last year.
Fourth week of Mail.
1912.
1911.
Increase. Decrease.
$
$
$
83,387
246,336
329,723
Buffalo Rochester & Pittsburgh
437,200 151,500
588,700
Canadian Northern
3,625,000 3.124,000 501,000
Canadian Pacific)
4,700
298,200
302,900
Central of Georgia
50,350
888,369
938,719
Ohio
do
Chesapeake
305,758
271,830
Chicago & Alton
272,556
282,873
Chicago Great Western
179,321
162,578
Chicago Ind & Louisville
353,588
335,680
Colorado ec Southern
631.200
016,800
Denver & Rio Grande
2,503
28,966
31,469
Detroit do Mackinac Atlantic_
100,836
90,031
Duluth South Shore do
Grand Trunk of Canada
1,512,857 1,341,847 171.010
Grand Trunk Western
Detroit Grand lIav & Milw_
Canada Atlantic
24,000
236,000
260,000
International & Great Norther!
192,897 140,535
333,432
Interoceanlo of Mexico
73,238
1,448,160 1,372,922
Louisville & Nashville
1,513
18,171
10,684
Mineral Range
20,479
158,015
178,494
1
Minneapolis do St Louis
Central
Iowa
19,758
511,815
531,573
Minneapolis St Paul & S S M__
712,891
681,545
Missouri Kansas & Texas
92,000
1,471,000
1,563,000
Pacific
Missouri
9,437
324,837
334,274
Mobile & Ohio
1,419,898 1,273,267 146,631
National Railways of Mexico
5,659
10,948
16,605
on
Nevada-California-Oreg
28,000
273,000
301,000
St Louis Southwestern
70,247
1,618,933 1,548,686
Southern Railway
10,899
378,348
389,245
Texas do Pacific
40,018
35,424
Toledo Peoria & Western
85,682
82,785
Is
Western
Louis
St
Toledo
18,281,221 18,818,670 1,606,846
Total (34 roads)
1,464,551
Net increase (8.71%)
5
33,928
9,683
16,743
17,899
14,400
10,805
31,346
4,594
2,897
142,205
43
E. For the third week of May our final statement coversthe
roads and shows 12.67% increase in the aggregate over
same week last year.
Thtrd week of May.
1912.
1911.
Increase. Decrease.
$
$
$
Previously reported (38 roads). 13,740,780 12,171,934 1,679.122
29,202
29,069
Ironton
Detroit Toledo &
2,212
60,326
62,538
Duluth So Shore & Atlantic
4,000
154,100
158,100
Mexican Railway
14,804
14,710
Mineral Range
404
2,291
2,595
Tennessee Alabama & Georgia_
$
110,276
133
14,007,802 12,432,657 1,685,738
1,575,235
110,503
Total (43 roads) .
Net Increase (12.67%)
94
-Gross Earnings- -Net Earnings
Previous
Current
Previous
Current
Year.
Ye1ar.
Yesar.
Year.
Roads.
$
$
162,077
49,503
480,578
Apr 349,454
Hooking Valloy-b
5,984,636 6,021,715 2,204,743 2,053,889
July 1 to Apr 30
824,365
145,781
Apr 4,248,759 4,770,859
Illinois Central_a
48,926,546 52,513.754 5,850,198 12.570,856
July 1 to Apr 30
10.970
24,262
48,944
53,506
Lexington do Eastern_b_Apr
119.236
164,111
427,285
458,604
July 1 to Apr 30
936,334
Louisville & Nashv_b__Apr 4,729,591 4,127,363 1,233,868 13.577,221
47,214,648 45,607,227 14,475.078
July 1 to Apr 30
224,934
207.642
767,945
Apr 823,570
Maine Central_b
5
06
2:732
8,875,019 8,203,525 2,519,159 2.214
July 1 to Apr 30
12,501
54,445
62,607
Apr
Mineral Range-b
26,280
114,960
623,485
636,604
July 1 to Apr 30
627,747 5107,043 5107,447
Minneap do St Louis_b Apr 651,417
6,611,225 7,313,904 51,149,076 51.773,879
July 1 to Apr 30
539,194
210.271
986.613
Minn St P & S S M_aApr 1,468,388
14,288.317 10,958.589 5,510.704 3.351,826
July 1 to Apr 30
75,501
310,207
662,125
902,295
Chicago Division_a___Apr
63.004 7,442,248 2,106,973 1.578.336
7,907
July 1 to Apr 30
28,223
23,733
74,135
733.925
b_
___Apr
Mississippi Central_
320,616
285,690
769,369
,010
July 1 to Apr 30
1C389,331
k357,513
2,069,302
Missouri Kan Is Texas b_Apr 1,990,213
July 1 to Apr 30
24,001,891 24,815,999 k5,914,431 k7,316,184
961,564
Apr 4,157,170 4,031,981 1,180.788
Missouri Pacific
45,606,613 44,302,200 10,761,308 10,050.863
July 1 to Apr 30
254,112
262,160
Nashv Chatt Is St L_b Apr 1,073,713 1,026,780
10,161,868 10,314,117 2,390,703 2.584,471
July 1 to Apr 30
16,625
,784
37,04824
__Apr
Nevada-Cal-Oregon_b_
3
24
7
91
2,
85
87,659
274,809
296,358
July 1 to Apr 30
N Y N H & Hartford_b_Apr 5.451,477 5,155,362 1,863,497 1.816.551
53,623,453 51,400,905 18,902,819 17,557.739
July 1 to Apr 30
163,017
697,781 def108.578
New York Ontario Is W aApr 355,773
7,265,135 7,706,358 1,577,499 2,046.632
July 1 to Apr 30
954,738
Norfolk Is Western_b___Apr 3,508,856 2.836,585 1,300,953
32,752.960 29,710,665 11 620.059 10,669.607
July 1 to Apr 30
100,694
76,605
627,804
Apr 598,452
Pacific Coast
973,340 1,100.274
6,267,256 6,524,518
July 1 to Apr 30
101,380
83,310
237,484
Richm Fred Is Potom_b_Apr 245,183
701.591
708.233
2,057,589 1,923,908
July 1 to Apr 30
11.908
def4,126
39.897
48,001
Rio Grande Southern_b_Apr
168.695
7,502
573,709
427,468
July 1 to Apr 30
71.645
71,408
3/3.957
Apr 277,640
Rutland_b
140.508
177,265
974,557
1,011,092
Jan 1 to Apr 30
909,991
821,434
3,172,880
_
Fran
San
2,950.033
b__Apr
&
Louis
St
35,334,893 36,540.978 11,383,926 11,456,168
July 1 to Apr 30
351,879
261,251
Chicago & East III_b_Apr 968,964 1,113,653
12,973,502 12,693,663 3,572,475 4,072,588
July 1 to Apr 30
Apr 3,918,997 4,286,533 1,082,686 1,261,870
Total all lines_b
48,308,394 49,234,641 14,958,400 15,528,736
July 1 to Apr 30
50,688
43,277
148,070
167,228
St Louis Rocky Mt&P_a_Apr
608,262
539,708
1,665,814 1,778,071
July 1 to Apr 30
85.607
15,503
782,585
St Louis Southwestern a Apr 837,832
10,117,872 10,213,938 2,712,293 2,488,469
July 1 to Apr 30
552.952
585,344
Seaboard Air Linea____Apr 2,110.201 1,881,488
19,255,349 18,241,917 4,899.421 6,479,656
July 1 to Apr 30
For the month of May the returns of 32 roads show as
follows:
Month of Mall.
Gross earnings (32 roads)
1912.
1011,
Increase.
$
55,612,509 50,949,203 4,663,306
9.15
It will be seen that there is a gain on the roads reporting
.
in the amount of $4,663,306, or 9.15%.
Net Earnings Monthly to Latest Dates.-The table following shows the gross and net earnings of STEAM railroads
and industrial companies reported this week:
-Gross Earnings- -Net Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
Roads.
$
5
$
5
20,138
20,658
200,019
Atlanta 131rm & Atl_b__Apr 257,293
595,323
651,256
2,781,614 2,381,836
July 1 to Apr 30
938,201
Apr 3,199,191 2,835,442 1,029,430
Atlantic Coast Linea
28,037,118 26,702,012 8,398,146 8,655,907
July 1 to Apr30
100,879
104,537
264,224
Apr 276,327
Bangor & Aroostook
932,477
2,868,305 2,638,947 1,055,931
July 1 to Apr 30
800,366
989,401
3,504,661
3,755,653
Apr
dc
Maine-b
Boston
38,159,392 37,062,240 8,708,005 8,337,038
July 1 to Apr 30
396
198
3,238
3,006
Bridgeton Is Saco River_Apr
12,216
14,023
43,271
47,273
•
July 1 to Apr 30
779,136
Chesapeake do Ohlo_b__Apr 3,113,796 2,536,334 1,026,148 9,126,057
28,569,610 27,313,357 9,6,19,365
July 1 to Apr 30
8338,043
s178,633
Apr 958,244 1,059.642
Chicago do Alton_a
12,346,914 12,135,384 82,656,114 83,008,908
July 1 to Apr 30
1,688,841
1,537.086
6,423,311
6,726,131
Apr
b
Chicago Burl Quincy
73,188,166 74,328,217 24.465,858 25,245.664
July 1 to Apr 30
580,358 1,058,697
Chicago Milw & St Pa _ _Apr 5,054,242 4,771,703
52,859,122 54,753,053 10,644,587 12,323,438
July 1 to Apr 30
347,619
568,372
Chic Milw & Pug Sd a Apr 1,415,268 1,131,599
13,231,066 12,082.784 4,439,347 4,790,309
July 1 to Apr 30
6,347
8,145
13,945
15,653
Apr
Cornwall b
61,924
83,320
135,773
161,088
July 1 to Apr 30
149,916
215,148
301,183
396,723
Apr
Cuba Railroad
3,119,580 2,529,189 1,493,429 1,133,538
July 1 to Apr 30
676,024
90,807
1,754,927
1,136,290
Apr
&
Iludson_b
Delaware
6,410,210 6,622,322 1,851,863 2.312,205
Jan 1 to Apr 30
468,991
332,557
Denver Is Rio Grande_a_Apr 1,837,732 1,782,269
19,466,830 19,579,333 4,484,759 5,444,507
July 1 to Apr 30
105,747
Western Pacifie_b____Apr 443,843
800,204
4,340,422
July 1 to Apr 30
57,436
54,176
236,708
Duluth So Sh do Ati_b_Apr 249,635
673,453
739,799
30
2,590,505
Apr
to
1
2,575,744
July
223,644
292,991
n
558,433
b-Apr
668,041
Southwester
El Paso
8,249,643 6,016,673 2,502,219 2.397,130
July 1 to Apr 30
Grand Trunk of Canada890,570
986,440
Apr 3,199,237 2.864,422
Grand Trunk fly
11,491,753 10,719,927 2,521,821 2,465,370
Jan 1 to Apr 30
97,330
r
159.621
581,547
558,188
Western-Ap
Trunk
Grand
399,051
371,313
2,117,413 2,159.752
Jan 1 to Apr 30
10,707
22,873
175,194
160,108
Milw_APr
Det Gr Hav do
31.390
649,677
def1,946
649.434
Jan 1 to Apr 30
10,706
28,226
179,574
164,001
Apr
Canada Atlantic
50,125
10,464
810,745
838,728
Jan 1 to Apr 30
Apr 5,088,454 4,548,315 1,724,027 1,279,221
Great Northern_b
54,662,378 50,659,686 24,116,069 19,983,64
July 1 to Apr 30
&
1561
THE CHRONICLE
JVNE 8 1912.]
Southern RailwayApr
Mobile Is Ohlo-b
July 1 to Apr 30
Georgia Sou do Fla_b_Apr
July 1 to Apr 30
Cin N 0 do Tex Pac_b_Apr
July 1 to Apr 30
Alabama Gt South_b_Apr
July 1 to Apr 30
Apr
Texas Is Pacific_ b
Jan 1 to Apr 30
Toledo St L Is West_a__Apr
July 1 to Apr 30
Western Maryland_a___Mch
July 1 to Mch 31
Yazoo Is Miss Valley_a__Apr
July 1 to Apr 30
658,452
9,308,404
199,093
2,074,497
821,520
8,027,705
400,920
3,985,012
1,274,560
5,443,925
294,873
3.256,686
651.340
5,398,533
571,334
8,292,528
249,245
• 68,305
919,845
9,290.724 2,443,878 2,715,513
45,815
22,842
189,077
498.162
481,353
2,036,990
173,806
239,371
724,703
7,653,190 2,701.148 2.631.326
66,485
101.928
349,040
3,774,937 1,198,181 1.045.863
77,336
79,482
1,077,757
682,694
663,783
4,765,307
p83,471
293,477 p108,636
3,143,860 9815.150 p848,023
r220,035
r203,786
575,702
5,396,848 r1,721,223 r1,893,328
162,244
774,604 def124,558
9,277,442 1,268,675 2.687.591
INDUSTRIAL COMPANIES.
-Gross Earnings- -Net Darning:
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
Companies.
3
Abington Is Rockland Elea
1,074
1,006
6,709
8,558
Light Is Power_ b_ __ _Apr
6,053
5,655
32,170
38,604
Jan 1 to Apr 30
41,814
46,540
82,468
92,151
Blackstone Val GdoE_ b_ _Apr
194,549
199,711
381,388
401,126
Jan 1 to Apr 30
8,010
11,170
27,533
30,286
Apr
Edison Elec(Brockton) b
42,548
52,587
120,223
131,730
Jan 1 to Apr 30
8,187
5,588
29,948
32,344
Fall River Gas Works_ b_Apr
43,620
38,154
138.742
144,939
Jan 1 to Apr 30
9.792
8,523
20,776
21,838
Houghton Co Elea Lt_b_Apr
51,673
52.654
98,894
104,795
Jan 1 to Apr 30
18,498
13.971
36,638
36,528
Lowell Elm Lt Corp_b__Apr
56,402
51,363
159.985
141,514
Jan 1 to Apr 30
66.314
70,953
119,174
137,029
b_Apr
Minneapolis Gen Elec_
28,345
31,996
46,041
52,009
Sierra Pacific Elec_b____Apr
113,866
123,652
185.064
203.929
Jan 1 to Apr 30
137,566
147,975
275.410
334,060
Southern California Ed__Apr
594,823
876,804
1,392,753 1,180,107
Jan 1 to Apr 30
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
of $144,
h For April 1912 additional income is given as showing a debit
to April 30
against a credit of $9,408 in 1911. and for period from jItly 1 year.
was a debit of $4,889 In 1912, against a credit of $55.473 last
k After allowing for outside operations and taxes, operating Income for
April 1912 was $273,115. against $303,001; from July 1 to April 30 was
$5,019,878 in 1912, against $6,474,586 last year.
p For April miscellaneous charges to income were 312,587. against $7.588
In 1911; for period from July 1 to April 30 they showed a charge of $119,
230 in 1912, against a credit of $92,603 In 1911. net
from coal and other
r After allowing for miscellaneous receipts and
1258.787
departments, total net earnings for March were $246,187, against
$2,192.804.
against
12,065,366,
were
31
hich.
to
1
July
In 1911, and for
month of
s After allowing for miscellaneous charges to Income for the last year;
April 1912, total net earnings were $135,538, against $288,163
for period from July 1 to April 30 were $2,048,310 this year. against
83,376,454.
Interest Charges and Surplus.
-Int., Rentals, dec.- -Bat. of fret Barns.Previous
Cdrrent
Previous
Current
Year.
Year,
Year.
Year.
5
z8,152
z2,366
98,742
106,882
Bangor & Aroostook____Apr
970,097 z118,046 (112.513
1,065,927
July 1 to Apr 30
de1240
def439
636
637
Bridgeton Is Saco River_Apr
5,953
7,543
8.283
6,480
July 1 to Apr 30
89.791
147,524
60,125
67,624
Apr
Cuba Railroad
614,488
869,680
469.050
623.749
July 1 to Apr 30
Roads.
1562
THE CHRONICLE
-Int., Rentals, dec.- -Bal. of Net Earns.
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
Denver & Rio Grande.. _ _Apr 489,052
481,840 adef91,136
a51,396
July 1 to Apr 30
5,036,337 4,951,033 a631,941 a1,712,211
Duluth So Sh & At!
Apr
100,502
95,438 zde146,326 zdef32,764
July 1 to Apr 30
963,870
959,184zdef257,290xclef166,346
Mineral Range
Apr
12,385
12,635
z248 zdef6,710
July 1 to Apr 30
123,681
127,547 zdef2,460 xdef87,611
Nevada-Cal-Oregon
Apr
5,947
4,302
z11,057
z1,900
July 1 to Apr 30
54,536
43,173
x37,196
z46,918
New York Ontario & W_Apr
104,712
114,085 de1213,290
48,939
July 1 to Apr 30
1,102,858 1,194,644
474,041
851,988
Norfolk & Western__ _ _ _Apr 453,127
505,990 x941,388
x506,537
July 1 to Apr 30
4,704,001 5,123,566 x7,752,260 z6,616,267
Rio Grande Southern__ _Apr
19,805
19,848 zdef23,492 zdef7,287
July 1 to Apr 30
192,035
192,137zdef175,237 rdef14,452
St Louis Rock Mt & Pac_Apr
30,223
30,196
13,044
20,402
July 1 to Apr 30
315,191
323,772
224,517
284,490
St Louis Southwestern_ _Apr
195,844
100,881 zdel87,338 zdef56,078
July 1 to Apr 30
1,978,896 1,865,743 x1,463,492 x1,014,713
a These figures are after allowing for other Income and for discount and
exchange. The sum of $10,000 is deducted every month from surplus and
placed to the credit of the renewal fund.
Roads.
ob. Lxxxxzv.
Latest Gross Earnings.
Name of
Road.
Week or
Month.
Current Previous
Year. I Year.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
I
3
Phila. Rap Trans Co.. April
1903,908 1824,173 7,321,162 6,923,554
Port(Ore)Ry,L &PCo. April
532,558, 526,475 2,125,836 2,032,114
Puget Sound Elec Co.. March __
140,279 142.669
404,088
417,055
Richmond Lt & RR_ January _ _
23,667 23,123
23,667
23,123
Rio (le Janeiro Tram
Light & Power Co April
1193,8331030,111 4,548,207 3,938,862
St Joseph (Mo) Ry,Lt
Heat & Power Co. Aprll
90,4231 84,700
378,984
346,542
Sao Paulo Tram,L&P April
375,015 284,038 1,468,048 1,125,116
Savannah Electric Co April
60,721
55,395
234,483
213,561
Seattle Electric Co__ February
863,654
413.838 428,557
907,285
Second Ave (Bee)_ _ _ January _ _
70,780
70.780 65.595
65,595
Southern Boulevard_ January _ _
9,076
9,076
8,232
8,232
Sou Wisconsin By Co April
69,716
16,950 14.848
58,080
Staten lard Midland.. January _ _
16,320
16,320
15,892
15,892
Tampa Electric Co.. Agri!
222,672
62,305 55,309
244 862
Third Avenue (Rec)_ January _ _ 305.568 290.984
290,984
305568
're-City By & Lt Co. April
894,237
225,987 210,756
974,179
Twin City Rap Tram. 3d wk May 149,503 143,443 2,997,384 2,873,738
Underground Elec By
of LondonThree tube lines_ _ _ Wk June 1 £13,605 £13,165 £311,385 £306,750
Metropolitan D 1st. Wk June 1 £13,715 £11,948 £276,303 £262,197
.INDUSTRIAL COMPANIES.
United Tram ways_ Wk June 1 £10,112 £7,706 £133,743 £131,007
London Gen'i Bus_ Wk June 1 £59,791 £44,639 £991,533 £756,496,
-Int., Rentals, dee.- -Del. of Net Earns.
- Union
(Rec)
January _ _ 180,130 167,777, 180,130
167,777
Current
Previous
Current
Previous
UntonRy,G&ECo(Ill) April
270,735 242,968 1,202,810 1,024,476
Companies.
Year.
Year.
Year.
Year.
973,939 3,818,745 3,741,119
'United Rvs of St L... April
1014,430
2
$
$
$
United RRs of San Fr March _ _ _ _ 691,754 657,176 2,012,427 1,873,070
Abington & Rockland Elec
Westchester El (Rec) January _
41,277 40,483
41,277
40,483
Light & Power
Apr
187
187
818
887 Whatcom Co By & Lt March 32.411
31,301
101.924
96.088
Jan 1 to Apr 30
751
751
5,302 Yonkers RR (flee).. January _ _
4,804
52,207 49.332
52,207
49.332
Blackstone Val Gas&E1_Apr
17,765
30,977
17,482
29,862
71,288
68,842
15,563
11,952 Yoururst & Ohio Rly_ April
Jan 1 to Apr 30
123,748
120,057
75,983
74,492
c These figures are for consolidated company.
Edison Eleo (Brockton).Apr
1,919
1,777
9,260
6,233
Jan 1 to Apr 30
7,780
7,183
44,807
35,365
Electric Railway Net Earnings.-The following table gives
Fall River Gas Works__ _Apr
643
413
4,945
7,774
Jan 1 to Apr 30
2,385
2,159
35,760
41,461 the returns of ELECTRIC railway gross and net earnings.
Houghton Co Mee Lt__ _Apr
4,129
4,194
4,329
5,663 reported this week:
17,822
Jan 1 to Apr 30
17,464
34,832
34,209
-Gross Earnings
-Net Earnings
Lowell Elea Lt Corp_ _ __Apr
1,616
1,562
12,355
11,934
Current
Previous
Current
Jan 1 Ao Apr 30
6.222
Previous
6,588
45,141
49,814
Roads.
Year.
Year.
Year.
Year.
Minneapolis Gen Elec___Apr
36,402
33,408
34,551
32,906.
Sierra Pacific Elec
Apr
5,042
2,815
26,953
25,530 Baton Rouge Elec_ b_...Apr
11,120
8,818
4,058
2,839
Jan 1 to Apr 30
21,708
15,151
91,884
95,715
Jan 1 to Apr 30
45,189
30,194
18,942
12,424
Southern California Ed_Apr
59,149
52,614
88,826
84,952 Blockton & Plym_ b_ __ _Apr
8,285
8,277
1,768
1,158
• • Jan 1 to Apr 30
242,028
221,803
434,776
373,020
Jan 1 to Apr 30
20,844
29,471
3,388
3,968
Cape Breton Electric_ b_Apr
26,559
10,521
23,332
10,495
z Alter allowing for other income received.
, Jan 1 to Apr 30
102,989
97,057
38,217
39,900
EXPRESS COMPANIES.
Cloy Painesv de Ea.st_a_Apr
26,527
11,901
26,572
10,220
Jan 1 to Apr 30
February
95,881
July 1 to Feb. 29
94,814
39,690
33,569
1912.
1911.
1912.
1911.
Dallas Electric Corp_ b_ _Apr
141,098
125,387
30,227
48,681
Globe Express Co.$
$
$
$
Jan 1 to Apr 30
549,076
163,739
510,060
192.034
Express revenue
46,577
40,476
522,071
482,239 El Paso Electric_
Apr
b
58,110
21,353
24,493
53,695
Miscellaneous transp. rev__ _
Jan 1 to Apr 30
92,610
252,584
117,568
227,404
Non-transportation revenue..
994
580
5,745
4,608
Federal Light de Tract _ _Apr
113,059
98,102
48,122
41,274
Gross receipts from oper_ _
Trinidad El Tr By & GApr
47,572
41,056
19,305
527,816
6,979
486,847
Express privileges-Dr
23,297
19,432
262,635
239,626 Galveston-Hous Elea_ b_Apr
151,603
121,147
57,502
40,242
Jan 1 to Apr 30
216,783
583,472
153,419
448,528
Total operating revenues.. _
24,274
21,624
265.180
247,221 Honolulu R T &
Ld_
b__Apr
39,332
17,211
20,509
44.008
Maintenance
618
558
5,173
6,039
Jan 1 to Apr 30
181,504
156,115
85,264
74,929
Traffic expenses
1,682
1,357
18,183
10,874
Transportation expenses..
22,896
21,135
197,397
159,778 Houghton Co Trao_ b__ _Apr
25,508
24,566
11,435
11,150
General expenses
Jan 1 to Apr 30
4,900
33,537
3,745
33,047
93,421
93,146
32,650
32,510
Illinois Traction_a
Apr 563,505
528,228
222,450
203,545
Total operating expenses.. _
27,950
249,292
28,944
209,740
Jan 1 to Apr 30
2,353,867 2,178,927
857,262
954,637
Net operating revenue.. _ _ _ def4,669
15,888
def6,326
37,481
One-twelfth of annual taxes_
815
6,250
650
6,290 Interboro Rapid Trans_aApr 2,806,389 2,658,586 1,546,390 1,420,362
July 1 to Apr 30
25,986,784 24,781,481 13,490,000 12,983,233
loss5,319 loss7,141
Operating income
0,638
31,191 Lake Shore El fly-a.. __ _Apr
97,806
38,751
91,958
37,917
2,903
2,842
Mileage of allISteam roads_
. Jan 1 to Apr 30
359,197
138,797
330,314
128,513
lines coveredlOther lines_
New Orleans Ry & Lt__. Apr 541,887
198,857
218,421
516,038
Jan 1 to Apr 30
2,272,598 2,145,199
948.562
859,879
ELECTRIC RAILWAY AND TRACTION COMPANIES Northern Texas Elec.b_ _Apr 134,930
55,135
61,736
126,681
Jan 1 to Apr 30
214,055
215,362
502,311
502,716
Pensacola Electric_ b.._ _ _Apr
7,732
22,734
8,621
22,491
Latest Gross Earnings.
Jan. 1 to latest date.
Jan 1 to Apr 30
90,264
31,151
90,076
32,914
Name of
.
Savannah Electric_ b_ _Apr
60,721
55,305
15,958
15,402
Road.
Week or
Current Previous Current
Previous
Jan 1 to Apr 30
234,483
213,561
63,785
61,620
Month.
Year.
Year.
Year.
Year.
Tampa Electric_ b
62,395
Apr
55,309
28,317
25,044
to
Jan
Apr
1
30
244,862
222,672
114,371
102,647
5
$
$
5
American Rys Co...__ April
374,240 355,027 1,473,552 1,375.834
a Net earnings here given are after deducting taxes.
Atlantic Shore Ry___ April
26,078
21,736
89,802
76,705
cAur Elgin & Chic Ry April
141,974 130,013
521,854
487,084
b Net earnings here given are before deducting taxes.
Bangor fly & Eleo Co April
51,492 43.097
208,777
173,319
Baton Rouge Elec Co April
11,129
8,818
45,189
36,194
Binghamton Railway March
33,169 29.000
96,623
84.054
Interest Charges and Surplus.
Brock & Plym St By. April
8,285
8,277
29,844
29,471
Bklyn Rap Tran Syst January
1821,950 1745,422 1,821,950 1,745,422
-Int., Rentals,
Cape Breton Elec Co. April
-Bat. of Net Earns.
26,559 23,332
102,989
97,057
Carolina Pow & Lt Co April
Current
Current
Previous
34,846 28.690
Previous
138,879
117,807
Roads.
Year.
Cent Park N de E Riv January
Year.
Year.
47,567 50,437
Year.
47,567
50,437
Central Penn Trao_ _ _ April
69,397 65,112
$
$
277,548
$
259.848
Chattanooga By & Lt April
81,208 75,114
320,201
1,730
1,730
290.307 Baton Rouge Electric_ _ _Apr
2,328
1,104
Clev Painesv & East_ April
26,527 26,572
95,880
Jan 1 to Apr 30
6,862
94.814
6,919
12,023
5,567
Clev South w & Colum April
91.091 85,885
334,396
324.046 Brockton & Plymouth Apr
1,103
1,050
718
55
Columbus (Ga) El Co March __
41,149 38,243
127,349
114,305
Jan 1 to Apr 30
4,206
4.433
def.238 def. 1,045.
98,218 99,934
Coney Island & Bklyn January
98,218
99,934
5,654
5.703
Dallas Electric Corp_ April
141,006 125,387
549,076
4,792
4,867
510,000 Cape Breton Electric_ _ _ _Apr
Detroit United By. 3d wk May 204,725 189,077 3,989,079 3,543,968
Jan 1 to Apr 30
22,610
22,616
15,007
17,374
D D E B & Bat (Rec) January
50,749 49.546
50.749
49,546 Clev Painesv & East_ __ _Apr
8,172
0,808
413
3,729
Duluth-Superior Trac April
01,908 89,707
354,486
340,845
Jan 1 to Apr 30
39,525
32,092
6,098
def5,955
East St Louis & Sub. April
178,507
179,744
757,607
712,803 Dallas Electric Corp_ __ _Apr
24.672
21,755
14,472
24,009
El Paso Electric
April
252,584
58,110 53,695
227,404
93,012
Jan 1 to Apr 30
85,424
99,022
78,315
Fairm & Clarks Tr Co April
65,227 53.186
243,232
208,612
42dStM&SNAv (Rec) January .._ 127,313 116,453
127,313
6,682
Apr
6,676
14,677
116,453 El Paso Electric
17,811
Galv-Hous Eke Co__ April
151,603 121,147
27,984
583,472
Jan 1 to Apr 30
26,791
89,584
65,819,
448,528
Grand Rapids By Co_ April
382.013
94,339 89,967
353,576 Galveston-HOuston Eleo.Apr
33,816
19,345
23,686
26,897
Havana Electric By. Wk June 2 48,09 , 46,349 1,062,577
999,313
Apr 30
to
Jan
135,659
1
78,201
75,218
81,124
Honolulu Rapid Trap
&
Honolulu
Ld
R
T
6,503
Apr
6,460
z14,358
z11,722
& Land Co
April
181,504
44.008 39,332
156,115
Jan 1 to Apr 30
26,373
26,294
Houghton Co Trac Co April
z61,204
x50,418.
93,146
24,566 25,508
93,421
Hudson & Manhattan March
455,691 389,729 1,345,600 1,138,396 Houghton County Trac_Apr
5,111
5,227
6,208
6,039
Illinois Tratclon Co.. April
563,505 528,228 2,353,867 2,178,927
Jan 1 to Apr 30
20,792
20,922
11,858
11,588
Interboro Rap Tran_ April
2806,389 2658,586
10,494,692 Interboro Rapid Trans.. Apr 018,825
888,031
z657,717 z558,377
Jacksonville Trac Co.. March -___
147,047
51,257 51,900
151,638
July 1 to Apr 30
9,107,282 8,874,328 z4,636,143 z4,386.511
Lake Shore Elea By. April
359,197
97,805 91,958
339,314 Lake Shore
El By
4,137
Long Island Electric_ January
Apr
34,854
34,614
12,742
3,004
12,742
13,030
13.030
def17
Milw El By & Lt Co. March
Jan 1 to Apr 30
139,047
138,814 def10,534
447.350 391.825 1,331.814 1,180.315
Milw Lt. Ht & Tr Co.. March
248,967
84,641
74,191
84,999
221.879 New Orleans Ry & Lt...._Apr
136.603
133,858
81,817
Montreal Street By.. March
427.664 371.992 1,239,621 1,072,854
325,352
Jan 1 to Apr 30
549,732
534,527
398,830
Nashville By & Light April
168,976 161,228
663.697
631,374 Northern Texas Electrlo_Apr
34,204
40,891
20,845
20,931
N Y City Interboro__ January
33,005
33,005 20,998
20,998
131,883
Jan 1 to Apr 30
131,082
83,380
82,192
N Y & Long Isl Trac_ January
24,131
24,131
24,993
24,993
3,646
Co_.
Queens
Pensacola
January
Electric
NY &
8,377
90,624 83,536
1,355
Apr
90,624
4,075
83,536
12,500,
5,043
Jan 1 to Apr 30
New York Rallwars_ January
1083,669 1100,865 1,083,669 1,100,865
25,508
20.414
Northam Easton & W April
13,680 13.039
50,924
6
19
44.594 Savannah Electric
15,952
Apr
15,383
North Ohio Trac & Lt April
221,784 200,015
845,270
21
748.885
Jan 1 to Apr 30
45.
63,764
61,575
North Texas Elec Co_ April
134,936 126,681
502,311
502.716 Tampa Electric
23,956
19,648
5,396
Apr
4,361
Ocean Electric (L D.. January
4,154
4,154
3,313
3,313
96,425
Jan 1 to Apr 30
19,516
83,131
17,946
Paducah Trao& Lt Co March
23,656 20.541
71.279
63,033
.
I
'WI
...I,.,e. Anvil
/9 4n1
99 Ill
on #17,
1
nn qaA
X After allowing for other income received.
ANNUAL REPORTS°
Annual Reports.-An index to annual reports of steam
railroads, street railways and miscel aneous companies which
have been published during the preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the "Chronicle" in which
it is published. The latest index will be found in the issue
of May 25. The next will appear in that of June 29.
Georgia Railway & Electric Co., Atlanta.
(Report for Fiscal Year ending Dec. 31 1911.)
the net
Results.-The gross earnings increased $452,423, or 11.20%; to
gross
expenses
earnings $255,382, or 11.98%. The ratio of operating
47.23% for 1910. After the payearnings was 46.86%, as compared with
surplus
the
5%,
pref.
of
stock
dividend
and
charges
interest
ment of taxes,
$1,426,543. Dividends aggregating
earnings for the year amounted to on
the common capital stock. The
and paid
$8 per share were declared
all charges and dividends, amounted
of
payment
after
year,
surplus for the
to profit and loss. The total number
to $745,375, which has been credited
railway, including pay passengers,
of passengers transported on the street
transfers and free passes, amounted to 62,246,737.
Construction.-Charges to construction for the year 1911 for additions
to the property, including the Atlanta Gas Light Co., aggregate $743,118,
viz.: (1) Georgia By. & Electric Co.• (net), $631,739 (notably track and
roadway, $250,700, and steam and electric plant equipment $213,605);
(2) Atlanta Gas Light Co., $111,379.
Bonds, &c.-"BefundIng and improvement mortgage bonds" to the
amount of $769,000 were issurd; of these bonds, $519,000 have been sold
(V. 93, p. 1461) and $250,000 are in the treasury for future disposition.
The company has no floating debt other than its current monthly accounts
outstanding on Dec. 31 1911.
Mileage.-On Dec. 31 1911 the total mileage of railway tracks (on a single-track basis) owned and operated was 195.179. During the year 8.244
miles of new track were built and 7.056 miles of track were entirely rebuilt.
Lease.-At the annual meeting held on Jan. 30 1911, a lease of the property and franchises of the company to the Georgia Railway & Power Co.
was authorized by the stockholders. Copy of the minutes of this meeting
has been sent to all the stockholders of the company, and notice will hereafter be given the stockholders of the date when this lease will become
effective. (See V. 93, p. 1191, 1725; V. 94, p. 350, 982, 1119, 1383.)
Controlled Company.-The Atlanta Northern Railway Co., the capital
Stock of which is owned by this company, shows:
Note Balance, Total
Bend
Gross
Net
Taxes
Cal.
Year- Earnings. Earnings. Paid. Interest. Interest. Surp. 'sum.
1911
$139,218 $33,794 $4,523 $20,000 $6,627 $2,644 $50,091
47,447
2,629
2,677
20,000
1910
4,059
129,363
29,365
Georgia Ry. & Electric Co.-Atlanta Gas Light Co.
RESULTS FOR CALENDAR YEARS.
1910.
1909.
1911.
1908.
$4,493,309 $4,04.,,886 $3,673,007 $3,339,021
Gross earnings
1,u08,444
1,770,142
1,049,994
Operating expenses__ _ 2,105,485
$2,387,824
Net earnings
*57,126
Divs., int., &c., ree'd_
$2,132,442
45,854
$1,902,865
38,054
$1,689,027
33,827
$2,444,950 $2,178,206 $1,940,919 $1,722,854
Deduct$231,662
$847,605f $251,366
$293,2681
Taxes
601,740
593,876
1
605,139f
Int. on bonds & notes_ _
120,000
120,000
120,000
120,000
5%
stock,
Divs. on pref.
Divs. on com. stock_(8%) 681,188030553,449(6%)510,876(6%)510,876
$1.699,575 $1,521,054 $1,476,118 $1,464,278
Total deductions
$258,576
$464,801
$657,242
$745,375
Balance, surplus
* Includes dividends on treasury stock, $39,472; on miscellaneous
stock, $5,501; interest on deposits, $285, and miscellaneous, $11,868.
GENERAL BALANCE SHEET DEC. 31.
1910.
1911.
1910
1911.
$
$
LiabilitiesAssets$
Construc'n, plant_23,643,649 22,477,580 Preferred stock__ 2,400,000 2,400,000
317,366 Common stock__ 8,514,600 8,514,600
Supplies,fittings,&c. 339,563
518,247 Mortgage bonds_ _12,743,000 12,047,000
Cash & acc'ts rec_ 869,372
11,506
257,786
10,692 Acc'ts payable__ 273,886
Prepaid accounts.
4,865
4,792
Stocks and bonds_ 2,365,956 2,424,999 Interest payable__
28,247
16,174
11,465 Taxes payable_ _ _ _
33,492
Job & work orders
138,000 Reserve accounts_ 282,300
217,143
Sinking fund bonds 152,000
38,211
6,270 Sink, fund interest
45,148
6,932
Sink, fund prem'm
201 Suspense accounts
66
14,897
Sinking fund trustee
Profit and loss__ 3,093,103 2,396,068
27.405,218 25,904,820
Total
94, p. 1119, 982.
Total
27,405,218 25,004,820
Havana (Cuba) Electric Railway.
(Report for Fiscal Year ending Dec. 31 1911.)
Gen. Man. F. Steinhart, Jan. 25 1912, wrote in substance:
Results.-Our earnings for the year increased $334,521, or 12.59%
(against 6.76% for 1910 and 9.30% for 1909), with an increase of only onethird of 1% in operating expenses, notwithstanding the hindrances to
regular schedule service, owing to the sewer work going on in the city. We
have carried a total of 4,664,625 cash fare passengers in excess of the number
carried during 1010. Our freight service increased 89.9%.
Extensions, &c.-The necessity for extensions of our tracks becomes daily
more apparent, but in carrying out the work we are governed by the progress
made by the paving and sewer contractors. Petitions for extensions aggremiles) have been approved by the authorities during
gating 10.36 km.(6
the year and petitions for extensions aggregating 33.96 km.(21.68 miles)
are pending approval. 8.51 km. of new track construction work was
handled, also considerable special and miscellaneous work; 580 metcrsof
macadam pavement and 60,398 meters of granite pavement were repaired
and 14,814 meters of new granite pavement placed.
Electrical Transmission.-The removal from underground of the 550-volt
feed cable was completed by stringing overhead feeders 15-16 & 17-18,
consisting of 27,000 ft. of lead-covered rubber-insulated cable. These
cables supply substantially all that part of the city between Amistad St.
and the harbor. For the account of the Cuban Engineering & Construction
Co., about 12,000 ft. of 300.000 cm. overhead feeder cable was installe
and connections made between with the motors used by that company for
pumping water from the sewer trenches in various parts of the city. To supply the new lines in Luyano and Concha,independently of the main Jesus del
Monte line with which they connect.6.500 ft. of 500,000 cm.cable wasstrung
along Calzadas Jesus del Monte and Cristina between Concha and Luyano
and connected to a new panel in the Agua Dulce sub-station. Total construction 3,683 meters.
Power Department.-The apparatus in the power station and sub-stations
has been severely taxed and It has been necessary to push the installation
of new apparatus as rapidly as possible: still larger increases in the capacity
of generating and sub-stations and transmission and distributing lines must
be made In the immediate future. The original power station machinery,
which was all direct-current engine-driven railway generators, will soon
approach the end of its usefulness to this company. Four 500 h.p. horizontal water-tube steam boilers have been Installed and Taylor inclinedgrate underfeed stokers have been purchased for all four. A 3,000 lt.w.
turbo-generator with turbine-driven exciter and switchboards has been
purchased of the Westinghouse El. & Mfg. Co., and is now nearly ready
for operation.
Rolling Stock.-A relatively large amount of construction was necessary
in this department, partly to complete work already begun in the preceding
year, partly in preparation for the steadily increasing traffic. Ten standard
passenger cars were completed and 20 more were begun.
Stage Lines.-During the year 161 mules were purchased, 16 new stages
were constructed and 19 entirely rebuilt. A large automobile stage was
also constructed. The service from,Marlanaco to Hoyo Colorado and Punta
1563
THE CHRONICLE
JUNE 8 1912.1
Brava has been discontinued and a service between Santiago de las Vegas
and Bejucal put in operation. The gross income amounted to $403,451,
being an increase of $19,075. The net income of $95,834 exceeded that of
last year by $19,889.
Fusion with Gas & Electric Light Co.-The question as to whether or not
your company should enter into the electric-lighting business,authorized oy
our concession, has been considered, and in that connection whether this
should be done independently and in competition with the Gas & Electric;
Light Co., or whether tamer results could De outained through a consolidation of the two companies. After due study the fusion plan was deemed
the best. If the fusion should be accomplished, the power plants of the
two companies will naturally be consolidated, which will permit our Colon
St. plant to be used as a sub-station or transforming plant instead of a
generating plant.
As the amalgamation requires, in order to be successfully carried out, the
advice of financial experts, in October last I requested Speyer & Co. of
New York to formulate, after consultation with committees of holders of
stock in both companies, a plan for merger. The subject has been favcrably entertained by the bankers,and It's expected that early in the comitg
year definite action will be taken by the stockholders. (SeeV.94,p.767, 982.)
RESULTS FOR CALENDAR YEARS.
Railway Operations1909.
1911.
1910.
Operating mileage
51.5
53.9
51.5
Gross earns, per track m.
$40,908
$48,016
$44,128
Net earns, per track mile
$22,360
$23,600
$25,535
Ratio expenses to earns_
46.82%
45.34%
46.52%
Gross earnings, railroad_ $2,588,050 $2,272,603 $2,106,761
Gross earns., stage lines_
381,886
403,451
384,376
. 1908.
• 50.4
$38,448
$19,168
50.15%
$1,937,797
339,010
Total gross earnings__ $2,991,501
Oper. exp. of railroad__ 1,211.686
307,617
Oper. exp. of stage lines
$2,656,979
1,057,209
308,431
$2,488,647
955,237
295,812
$2,276,807
971,725
274,699
Total oper. expenses_ $1,519,303 $1,365,641
Net earnings
$1,472,198 $1,291,339
52
Miscellaneous credits__ _
3,829
$1,251,049
$1,237,598
22,717
$1,246,424
$1,030,383.
Total net income ____ $1,472,250
$479,953
Interest
22,720
Taxes, &c
5,195
Amort. bd. disc. & exp_
300,000
Pref. dividends(6%)
Corn. divs.(see note)-(434%)335,863
4,345
Miscellaneous
$1,295,168
$426,742
21,387
$1,260,315
$430,303
13,310
$1,030,383.
$438,142
12,858
300,000
(6)447,819
2,279
300,000
(6)447,822
371
299,998
(2)149,274
3,781
$1,148,076 $1,198,227 $1,191,806
$904,053
Total
$324,174
$126,330.
Balance, surplus
$68,509
90994i1nclude 5 consecutive quar16
Note.-The dividends deducted above in$9
terly payments aggregating 6%, viz., 1% each paid Aug. and Nov. 1900,
and Feb. 1910 and 134% each in May and Aug. 1910; in 1910 4 distributions of 134% each, in Nov. 1910 and Feb., May and Aug. 1911; in 1911.
3 distributions of 1 34% each in Nov. 1911 and Feb. and May 1912; no
deduction is made by us for a fourth distribution which would be payable
in Aug. 1912 (and which at the same rate would call for $111,959), owing to.
the amalgamation (per plan V. 99, p. 767) with the Havana Elec, By..
Light & Power Co.
BALANCE SHEET DECEMBER 31.
1911.
1910.
1910.
1911.
Liabilities$
Assets$
21,742,924 21,310,624 Common stock._ _ 7,463,630 7,463,630
Properties
176,932 Preferred stock___ 5,000,000 5,000,000
187,071
Stage lines
9,769,681 8,540,13/
410,221 Funded debt
Insular Ry. Co
436,895
Res. for premiums
Secur. of other cos.
1,800
22,100
Cash
first mtge. bonds
210,004
910,796
75,000
78,313
64.351 Bills payable
Sundry debtors
Materials on hand.. 433,196
188,363.
428,838 Int. due & accrued 210,533
120,148
Sinking funds__ _
84,626
Insur., &c., pre21,826 Sundry creditors
26,661
*91,807 *105,804
paid
Profits applied in
Bond disc. & exp.
redcm. of bonds 366,000
to be amortized_ 201.616
579,000,
Reserve for (flys
186,954
186,954
Deposits as secur52,000 Profit & loss acct_ 876,507
52,567
415,766
ity
Total
24,071,839 22,674,796
Total
24,071.839 22,674,796.
*Amounts due sundry creditors include reserves for accrued and contingent liabilitles.-V. 94, p. 1449, 982
International Nickel Co., New York.
(Reportfor Fiscal Year ending March 311912.)
President A. Monell says in substance:
Results.-The payment of four quarterly dividends of 134% each on the
pref. stock was authorized out of the surplus earnings of the fiscal year, as
well as one quarterly dividend of 234%, one quarterly dividend of 4%, one
quarterly dividend of 5% and one quarterly dividend of 7% on the common
stock, aggregating a total distribution of 1834% on this class of stock.
The unsatisfactory conditions which obtained in the steel industry in the
United States were directly reflected by the lessened demand for our
product in this field, resulting in the earnings being slightly less than the
previous year. In other fields the demand was excellent, and the increased
consumption noted during the previous two years continued.
The steady growth of the motor vehicle business, both for pleasure and
transportation,'and the wise policy of the makers in using a superior grade
of steel for the more important parts of such vehicles, and the study that is
being given by the engineers in the transportation business toward securing
more suitable material for extremely severe service, will both have an important bearing upon expanding the field of consumption of the company's
products, especially with the period of renewed activity in the steel industry
now apparent.
During the year the Monel metal business in rods, sheets and for casting
purposes continued to develop,and considerable progress has been made In
expanding the field of usefulness of this article.
The better conditions that have obtained In the copper market,
especially during the latter part of the year, and the likelihood of their
continuance during the present year should be referred to.
Improvements.-We are still continuing our policy of plant improvement
and development at Copper Cliff upon every possible opportunity. During
the past year the management has completed the installation of five 70-ton
basic-lined converters, replacing ten acid-lined converters of smaller capacity. In addition, a reverberatory furnace plant has been completed at
cost of about $500,000, for the purpose of utilizing the fines produced in our
mining operations and the flue dust from our present blast furnace practice.
Bonds.-The policy of accumulating the company's bonds to meet future
sinking fund requirements is still being continued. On March 31 1912
the treasury held $752,000 bonds.
INCOME ACCOUNT FOR YEARS ENDING MARCH 31.
1909-10.
1910-11.
1908-09.
1911-12.
Earn.of constit.cos.(mfg.
& selling exp.deducted)$5,019,703 $5,207,521 $3,339,457 $2,162,691
49,417
9,223
69,263
Other income
Total income
General expenses
$5,088,966
222,553
$5,256,938
228,064
$3,348,680
203,947
$2,162,694
139,393.
$4,866,413 $5,028,874 $3,144,733
Net income
Deduct$454,320
$305,025
Depreciation of plants__ _ $497,520
139,782
151,609
123,581
Mineral exhaustion
201,500
184,000
192,000
Sinking fund reserve_ _ _ _
445,650
964,600
455,350
Interest on bonds
4,748
534,745
Preferred dividends (6%) 539,749
Common dividends_(18 302,143.412 •(7)808,778(5;4)487,978
$2,023,301
$3,962,614
$903,799
$1,552,540.
$470,760
Total deductions
Balance, surplus
$2,596,800
$2,432,079
$2,099,929
$1,044,804
$267,102'
100,205
177,000
473,500.
534,733
*Also 25% extra dividend on the common stock, calling for $2,218,08/,
paid July 15 1910 out of accumulated surplus.
THE CHRONICLE
1564
GENERAL
'1912.
AssetsProperty acct._ _a26,197,764
Investments
19,710
Advances to constituent cos_
186,671
Inventories at cost 3,263,108
Accounts receivle_ 1,354,733
Deferred charges to
operations
23,277
Bills receivable
50,000
Interest receivable
38,763
Sundry advances_
11,152
Cash
3,854,177
Total
BALANCE SHEET MARCH 31.
1912.
1911.
27,262,138 Common stock__ A1,582,626
47.649 Preferred stock_ __ 8,912,626
Net bonded debt__ 8,162,154
188,548 Accounts payable
744,718
and pay-rolls_
3,903,313
76,370
980,954 Accrued taxes_ __ _
Bond int., April__ 223,675
11,692 Pref. div.,due May 133,687
25,000 Com.dIv.,due June 810,767
29,281 Divs. unclaimed__
2,471
9,887 Insur.,sk.fd., &c. 412,079
(ii)
2,852,102 Depreciation
Profit & loss, surp_c3,938,093
34,999,355 35,310,564
Total
1911.
11,582,626
8,012,626
8,475,154
1,025,630
71,012
228,600
133,687
288,886
3,443
379,108
855,755
3,354,036
34,999,355 35,310,564
a After deducting balance to credit of depreciation fund at Mch. 31 1912, 31,051,865.
b See foot-note a.
c After deducting S19,741 to cover aceounts of foreign constituent companies
not included and $300,000 for depreciation of properties.-V. 04, p. 830.
• • • • Amalgamated Copper Co., New York.
•
(Report for Fiscal Year ending April 30 1912.)
Pres. John D. Ryan, New York, May 28, wrote in subst.:
[VOL.
Lxxxxiv.
International Lead Refining Co. was incorporated under the laws of Indiana,
its stock subscribed for by your company and a refinery site purchased at
East Chicago, Ind.: authorized capital of $500,000 will be issued as necessary to cover cost of real estate, construction, &o. Active operations are
expected to commence not later than Ootooer. Tha Tooele Valley Ry.
was operated at increased capacity and its earnings have been sufficientto
accumulate a comfortable surplus.
,
INCOME ACCT. FOR YEAR END. DEC. 31 (INCL. SUBSIDIARIES)
1911.
1910.
1909.
Tolls on copper & net profit on metals $3,442,259 $2,512,108 $2,442,901
85,819
Interest and discount
60,682
67,517
11,126
Miscellaneous revenues
64,142
78,125
Total income
Manufacturing and operating costs
General expenses
Taxes
Depreciation
Total
Net income
Dividends
$3,539,204
$2,081,915
47,702
15,320
175,229
$2,636,932
*1,328,955
62,889
16,538
226,359
$2,586,543
$1,079,012
46,005
$2,320,167
$1,219,037
(8%)800,000
$1,634,741
$1,002,191
(8)800,000
$1,350,830
$1,235,713
(3)300,000
225,813
$202,191
Balance, surplus
$935,713
$419,037
COMBINED BALANCE SHEETS DEC. 31 (INCL. SUBSIDIARIES).
1911.
1910.
1911.
1010.
Assets10,000,000 10,000,000
Plants, rys., &c__ 9,966,080 9,227,874 Canital stock
473,961
Supnlles on hand._
191,750
166,729 Accounts payable_ 608,227
50,019
Ores&metals on h'd 1,943.571
71,118
288,064 Pay-roll labor_ _ _
Insur. unexpired_
429,969
12,533
5,981 Res've for depreo_ 605,198
Accts. receivable.. 875,925
958.384 Reserve for unreCash
53,695 1,438.586
fined copper tolls 213,162
1,536,941 1,137,904
Miscellaneous
11,090
6,235 Surplus
Results.-Full details of the operations and finances of the Anaconda
Copper Mining Co. are given in the report of that company. (See V. 94,
p. 1445). Notwithstanding that the average price received for copper
delivered during the year 1911 was the lowest since 1907, that company
made a very satisfactory showing and produced its copper at a lower cost
Total
Total
13,054,646 12,091,853
13,051,616 12,091,833
than in any preceding year. This was due to the benefits derived from the
consolidation of 1910 and to economies, the full effects of which, however. -V.94, p. 564.
were not realized because of the smaller production that resulted from
New York Edison Co.
the unsatisfactory condition of the metal market during most of the year.
Outlook.-The metal market is now greatly improved and in view of the
(Reportfor Year ending Dec. 31 1911.)
increased consumption and the large reduction in stocks all over the world,
it seems safe to predict prosperity in the copper trade that should result
The Public Service Commission, First District, has made
in increased profits for your company for a considerable period. The
properties controlled by your company are in better condition to make a public the company's report for the calendar year 1911.
satisfactory production than ever before.
1910.
1911.
K. W.Hours.
Sales of Electric Current.
Investment in Securities.-These in the balance sheet show a decrease from
18,273,507 Municipa, st. light'g-arc ® 3.50o__
$839,835) $680,043
*184,356,800 to $178,512,047, but there has been no actual reduction78,357
@So.
964,506
light'g-incandes't
Municipal
st.
rather an increase. The apparent reduction Is due to the consolidation of
376,970
310,581
7,398,241 Lighting municipal buildings ® 5.090.
the assets and lianilltles of the United Metals Selling Co. with those of your
17,492
15,337
291,540 Municipal heat and power ® 6o
company in this year's balance sheet; the few outstanding shares having
86,615
162,142
974,300 Miscellaneous municipal @ 8.89o
been acquind, the company's capital stock is eliminated from "Investment 199,515%189 Commercial metred lighting ® 7.12o.. 14,200,820 12,279,633
in securitlei" and the current assets are included in "cash and cash assets."
3,734,679
40,169,765 Commercial metred power ® 7.970_. 3,203,794
There has been purchased by your company for cash 54,000 shares of the
73,747
59,934
3,697,420 Railroad corporations ® 1.990
stock of the Greene Cananea Copper Co. and by the United Metals Se.11ing
743,559
627,777
51,065,728 Other electrical corporations ® 1.45o.
Co. 3,000 shares of the stock of the International Smelting & Refining Co.
124,619
130,351
1,503,949
Breakdown
service
®
8.280
The Butte Coalition Mining Co. was dissolved and its assets distributed,
5,390,279 Misc, sales of current ® 1.89c
102,308
3,003
your company receiving for its 50,000 sha,e3 of stook 26,000 shares of the
stock of the Anaconda Copper Mining Co. and $223,000 in cash.
329,244,424
Total
sales
$19,648,116
$18,003,486
Owing to litigation brought about by the holders of a small minority of
INCOME ACCOUNT FOR CALENDAR YEARS.
the shares in the Parrot Silver & Copper Co. and the Alice Gold & Silver
1911.
1010.
1909.
Mining Co., the dissolution of those companies has been temporarily pre$1,1,648,118 *18,003,480 $18,545,866
vented. In order to relieve the great majority of minority shareholders Total sales of current
7,396
41,735
47,626
in those companies, who were agreeable to the plan of consolidation and Miscellaneous revenue
favorable to the dissolution, your directors offered to exchange with them
$19,689,851 $18,051,106 $16,553,258
Total operating revenue
an amount of Anaconda Copper Mining Co. stock equal to the amount of
$2,478,031 $2,155,258 $2,133,661
that stock they would have received in the event of dissolution. There Production expenses
945,229
1,193,015
1,393,474
were 40,910 shares of Anaconda Copper Mining Co. stock exchanged for Distribution and repairs
818,950
772,093
898,475
104,479 shares of Parrot'Sliver & Copper Co. stock and 25,772 shares of Utilization expenses
791,985
713,554
1,012,238
Commercial
expenses
Anaconda Copper Mining Co. stook exchanged for 343,626 shares of Alice
974,391
1,167,864
808,563
General and miscellaneous
Gold & Silver Mining Co. stock.
Notes.-During the year the balance due on notes to W. A. Clark on
Total operating expenses
$6,950,082 $5,933,599 $5,373,101
April 30 1911 of $3,500,000 was paid and the notes taken up.
1,115,543
1,186,867
1,270,052
Taxes
(See also International Smelting & Refining Co. below.]
Uncollectible bills
142,063
67,328
87,220
RESULTS FOR FISCAL YEARS ENDING APRIL 30.
Total revenue deductions
$8,287,462 $7,207,686 $6,630,707
1909.
1910.
1911.
1912.
$11,402,389 $10,843,419 $9,922,550
$6,647,006 $6,048,896 $5,963,968 $3,663,980 Operating income
Net income
1,004,030
1,150,509
a1,080,564
$3,847,198 $3,077,758 $3,077,758 $3,077,758 Non-operating income
Dividends
(2%)
(2%)
(2%)
Rate of dividend
(2 M %)
Gross inconie
$12,482,953 $11,993,928 $10,926,580
143,801,797 $3,791,099 $4,041,954
$586,222 Deductions from Income
$2,799,808 $2,971,138 $2,886,210
Balance, surplus
2,703,060
2,897,100
3,009,204
Prey. sur. and reserve__ 18,452,393 15,481,255 12,595,045 12,008,823 Dividends (6%)
$5,671,952 $5,305,729 $4,181,566
Balance, surplus
Sur. & res've Apr. 30_$21,252,201 $18,452,393 *15,481,255 $12,595,045
BAL.-SHEET APR.30 (INCL. UNITED METALS SELL'G CO.IN 1912).
1909.
1911.
1910.
1912.
3
$
Assets3
$
Inv. In securities, &c_x_178,512,048 184,356,800 159,881,245 156,481,847
Loan to Washoe Copper
7,200,000
7,200,000
Co. for smelter constr_
Due for copper delivered 3,960,3961
3,593,102
3,079,914
I 4,871,491
Due from smelting and
2,541,929
mining cos., &c
9,179,232
Cash
104,193,605 189,228,291 170,161,159 167,274,949
Total
Liabilities153,887,900 153,887,900 153,887,900 153,887,900
Stock
12,500,000 12,500,000
2-year5% gold notes
3,500,000
Notes payable
4,828,047)
Due to mining cos
22,565
22,565
)
118,558
Freight, taxes and int.
186,578j
accrued, &c
769,439
769,439
769,440
Dividend payable May.. 1,538,879
21,252,201 18,452,393 15,481,255 12,595,045
Surplus and reserve
Total
194,193,605 189,228,291 170,161,159 167,274,949
x Represents ownership in copper mines, mining claims, mining plants,
reduction works, refineries, coal mines, sawmills, standing timber, water
rights, land, &c.-V.94, p. 1121, 828.
International Smelting & Refining Co., New York.
(Report for Fiscal Year ending Dec. 311911.)
Pres. John D. Ryan, New York, June 1, wrote in substance:
At the Tooeie plant, International, Utah, operations were continuously
carried on at the copper smelting plant but the work was limited on account
of the restricted output of the mines, so that at no time was the plant
operated to full capacity. Towards the end of the year conditions were
materially bettered and the plant has treated a larger tonnage of copperbearing material than previously. This tonnage should bo notably bettered
during the current year, 'is the mines under old contracts have increased
shipments and we have also secured new sources of supply of copper ores.
The copper refinery at Perth Amboy, N. J., operated by the Raritan
Copper Works, during the past year has been operated at as great a capacity
as was possible in view of the reconstruction work under way. This work
consisting of an enlargement of the tank capacity and notable additions to
the power plant, is fast nearing completion. The capacity of the works
will thus be increased by approximately 30%. Additional capacity is an
absolute necessity on account of increase in shipments under old contracts
and new contracts entered into.
The construction of the lead smelting plant at International to be operated
as an addition to the Tooeie plant was vigorously prosecuted ,and on Feb. 29
1912 the first lead furnace was blown in. A large supply of silver-lead ores
was on hand and the plant is now working at full capacity. On account of
new contracts for silver-lead ores it has been found necessary to build an
addition to the plant, increasing its capacity over 50%• appropriation has
'to completion.
been authorized covering this work and It will be pushed
I• The original plan of constructing a lead refinery at Perth Amboy, N. J.,
as part of the Raritan Coppe Works, was not carried out as It was found
advisable to loaate such a plant In the Middle West. Accordingly the
a Consists of interest revenues, $977,925; dividends, $100,891, and miscellaneous rents. &c. (net). $1,748.
h Includes in 1911 interest on funded debt, $1,694,926; other interest,
$871,435; rent of other plant, $47,656; subway rents, $1,189,690; other
rents, $3,750; amortization of premium on debt (Cr.), $5,061.
The number of consumers on Dec. 31 1911 was 119,971, against 100,059
in 1910, and the number of active meters was 143,586 (Manhattan, 120,169;
Bronx, 23,417), against 121.853.
NEW YORK EDISO V CO. BALANCE SHEET DEC. 31.
1910.
1911.
1010.
1911.
Assets$
Fixed canital_ _ _117,843,366 115,341,80" Capital stock__ 50,153,717 50,183,071
Free investm'ts_ 11,101,768 10,919,225 ‘fortgage bonds 38,076,000 38,080,110
662,512
Bound Invest'ts 1,609,456
1,609,456 Misc. fund. debt
Cash
1,596,008
1,916.315 Oblig's for conSpecial deposits
681,147
strue. advs__ 12,800,0001 12,801,519
Due from assoc.
3,827f
Due assoc. cos.._
• cos
1,343,628
318,217 Current Habit's_ 1,220,7701 2,953,314
Acc'ts receivableAcced Ilabilit's_ 2,942,0691
City of N. Y.
1,083.419 Renewal & eon607,256
1,765,808
gent acc't____ 11,917,778 11,180,375
Consum'rs' ac'ts 2,118,256
796,071 Casualties & inOther accounts. 1.035,934
surance res've
148,489
Mans & suppl's 2,327.336 2,068.486
148,489
1,474,147 OM.res'ves, &e. 1.310,412
Suspense
1,591,437
a2,355,152
8.575 Corporate surp_b23,377,489 20,381,839
Prepayments...._
9,391
Total
141,950,551 137,982.666
Total
141,950,551 137,982,666
a Includes construction work In progress, $2,236,745.
b After deducting renewal and contingency reserve, $2,688,556, and mIscellane0:13 debits, $5,091.-V. 94, p. 921. •
American Graphophone Company.
(Report for Fiscal Year ending Dec. 311911.)
EARNINGS, EXPENSES AND CHARGES.
-Years end. Dec. 31- 15 Mos. end. Year end.
1910.
Dec. 31 '09. Sep. 30 '08.
1911.
$519,002
$2,537
Net earns, all sources_ .... $702,991
$238,117
Deduct$91,145
$94,865
$107,037
Int.on fund.&float.debt $118,116
23,022
50,983
68,400
Maintenance ___ .....
56,686
71,693
25,528
32,978
Depreciation, &c _
51,547
Div. on pref. stock_
-------- (1 h)36,674 (7)146,694
Total
Surplus for year _
Surplus ec reserve accts.
beginning of year.. _ _
$219,494
$483,487
$332,554
$251,944
$171,374
$347,628 def.$13,827def.$330,017
263,379
814,729
1,026,357
1,544,851
Total
$746,866
Chged. off for depree.,&c.
346,534
$1,182,357
898,078
$1,012,530
197,801
$1,214,634
188,277
$283,379
*814,729
Surplus and reserve accounts at end of year
$400,332
$1,026,357
• Dividends were resumed May 1 1912, 1% being paid on pref.
p. 984.
V. 94,
THE CHRONICLE
JUNE 8 19121
BALANCE SHEET DEC. 31.
1910.
1911.
1910.
1911.
Assets$
Common stock_ _ _ 2,627,550 2,627,550
Patents, franch.,
2,095,630
good-will, &c___ 2,021,062 2,011,896 Preferred stock__ _ 2,095,630
2,383,521 2,423,929 Mtge. on factory
Plants
100,000
100,000
real estate
160,189
176,023
Raw mall (cost)_
Mtge. bonds'10-30 1,408,900 1,369,300
Goods in process of
76,170
73,770
201,789 Debentures
manufac.(cost)_ 191,355
65,700
61,400
Coup. notes
Goods completed
accr.,
acc'ts
Curr.
635,716
723,709
on hand (cost)
int. & taxes not
930,469
Acc'ts & bills rec'le 1,108,420
yet due,and bills
178,879
176,174
Cash
621,283
691,957
payable
648,218
648,718
Ltocks & bonds _ _
27,926 Surplus and re30,557
A.'seen. assets_ _ 263,379
400,332
serve accounts
7,459,539 7,219,012
Total
-V. 94, p. 984.
Total
7,459,539 7,219,012
1565
An Act of the Legislative Assembly of British Columbia, approved on
Feb. 27 1912, authorizes the Canadian Northern Pacific By. Co. to construct
in addition to the road mentioned in the "Principal Act" of 1910 (ratifying
an agreement dated Jan. 17 1910 between His Alajesty, the King, and the
Canadian Northern By. Co.) the following lines: (1) A 150-mile line from
the 100-mile post on the Vancouver Island section of the company's road
northerly and easterly to the east coast of Vancouver Island. (2) A 145-mile
line from Kamloop to Vernon and thence (a) via Long Lake to Kelowna
and (b) to 0lianagan Lake. The Province of British Columbia also is
authorized to guarantee the principal and interest of additional securities
up to $35,000 per mile for each mile of said lines begun within 6 months
and completed within 3 years.-V.94, p. 1448, 1382.
Canadian Pacific Ry.-Bonds of Controlled Company.-
The shareholders of the Georgian Bay & Seaboard By. (controlled by
the company, (V. 93, p. 1103) will vote on June 13 on authorizing a mortgage to secure issuing additional bonds for the completion and equipment
of the line from Victoria Harbor to the Junction with the Ontario & Quebec
By.at or near Bethany, all in the Province of Ontario.-V.94, p. 1185,349.
Central of Georgia Ry.-.Pref. Stock.-The shareholders
Brooklyn Union Gas Company.
on June 3 approved a proposition to issue $15,000,000 6%
cum. pref. stock for the purpose of refunding the $15,000,000
(Reportfor Year ending Dec. 311911.)
94, p. 1316, 1382.
The Public Service Commission, First District, has made outstanding income bonds. See V.
New Bonds.-The shareholders will vote July 8 on authorpublic the income account and balance sheet (subject to reizing a large issue of refunding and development bonds in
vision) for the calendar year 1911.
order to provide for liquidating existing indebtedness and
OPERATIONS FOR YEARS 1911 AND 1910.
to supply funds for further improvements and additions.
1910.
1911.
1910.
1911.
See V. 94, p. 1382.
$
*Sales ofGas502,529 482,724
Commercial lighting_7,999,198 7,714,987 Taxes
Chicago & Alton RR.-New Bonds for Improvements.35,944
343,880 347,353 Uncollectible bills__ _ 46,598
Prepaid gas
It was officially announced on June 4 that the company
Municipal lighting_ 179,029 182,163
6,611,150
7,033,246
Tot. rev. deduc'ns
To other corpora'ns. 882,044 782,492
interests from
Operating Income_ _2,434,684 2,441,554 had completed arrangements with strong
9,404,151 9,027,001 Non-oper.Income__ 177,552 162,039 which it expects to obtain ample funds for the laying of a
Total sales
25,703
Rent & miscellaneous 63,779
the Kansas
2,612,236 2,604,493 considerable amount of double-track, notably on
Total income
City division, reducing grades, enlarging its terminals in
Total oper. revs..9,467,930 9,052,704
DeductOperating expensesand thus, and in other
809,7711 826,172 Chicago, Kansas City and St. Louis,
Production exps_ _ _ _3,309,946 3,165,580 Interest
ways greatly improving its facilities to meet the demands
12,3631
Rents
Distribution, repairs,
1,259,895 1,349,775 of the increasing business, which during the present fiscal
& general exp._ _1,912,021 1,694,353 Dividends
General amortiza'n_ _1,262,152 1,232,549
2,082,029 2,175,947 year has been the largest in the company's history.
Total
Total oper. exps_ _6,484,119 0,092,482 Balance, surplus_ _ _ _ 530,207 428,546
It is proposed to substitute for the present $18,000,000
80c.; improvement and equipment mortgage [bonds outstanding
* Sales of gas in 1911 include 10,004,205 M. cu. ft. commercial lighting
75c., only as collateral] an issue of $20,000,000 of 6% 'gold bonds
80c.; 238,705 M. cu. ft. municipal lighting
429,851 M. Cu. ft. gas prepaid
and controlled gas corporations as follows (M. Cu. ft. (i 50c.): Flatbush Gas Co.,
secured by a general mortgage upon the property.
674,630; Newtown Gas Co., 636,804: Woodhaven Gas Lt. Co., 191,375: Jamaica Gas to be
Of these bonds $4,500,000 have been already underwritten,
Lt. Co., 135,957, and Richmond Hill & Queens Co. Gas Lt. Co., 125,323.
which amount covers the present requirements.
MISCELLANEOUS INFORMATION AS OF DEC. 31.
1910.
1911.
1910.
1911.
Kuhn Loeb & Co.,it is said, have bought $4,500,000 of the
No. of consumers__ 316,633 332,253 Holder capacity (M.
account of the Union Pacific.
31,723 new bonds for the
31,723
cubic feet)
12,184
12,424
Street lamps
It is estimated that the expenditure of the proceeds of the new bond issue
will enable the company successfully to compete with the other roads in
its territory and to earn a considerable surplus over its fixed charges.
It will probably require 90 days to carry out the details necessary to authorize the execution of the mortgage and the issue of the bonds, after
which the remainder of the bonds not already underwritten will be disposed
of as may be required to make the proposed improvements.
Attention is called to the fact that the company's difficulty in the past
has not been inability to obtain a liberal amount of tonnage, as earnings
during the past ten years have shown very liberal increases, but the higher
operating expenses have made It difficult for the company to make a satisfactory exhibit of net. With the improved facilities resulting from the expenditure from the proceeds of the new bond issue, It is argued that the
road will be able to reduce its operating ratio by a very liberal amount and
43,195,253 42,068,445 at the same time place the company in a position to successfully compete
Total
43,105,253 42,068,445
Total
with other Western roads.
The company's April earnings suffered a falling off in gross of about
a After deducting $5,448,904 for accrued amortization.
b Miscellaneous assets In 1911 include accounts receivable, City of New York, $103,400, while the loss in net was in excess of $150,000. For the ten
$58,381, and consumers, $620,247; other current assets, $145,088.-V. 94, p. 1510, months ended April 30 last there was an improvement in gross of approximately $211,500, but a falling off in net of more than $328,000. The loss in
1451.
gross in April, however, was not unexpected, owing to the fact that the
movement of coal during that period was exceptionally light, while conditions otherwise in the territory served were not favorable. It is expected
that the May and June operating results will present much more favorable
comparison with the corresponding periods a year ago.-V.94, p. 826, 416.
908.95 Daily capacity of
924.68
56,000
mfg. plants(M.cu.ft.) 70,100
29
29
BALANCE SHEET DEC. 31.
1910.
1911.
1910.
1911.
LiabilitiesAssets17,998,500 17,997.000
Fixed capital. ___a33,206,235 32,767,021 Capital stock
Adv. to assoc. cos. 3,056,070 2,135,978 Funded debt_ _. _. 15,001,500 15,003,000
Free Investments_ 1,740,018 1,740,018 Working advances
22,670} 3,628,685
due assoc. cos
2,807,431 3,194,982
Cash
711,973 Oth.current Habil. 4,182,611)
Material St supplies b888,382
5,439,760
5,989,963
surplus.
Corporate
811,870
823,716
MIscell. assets...
700,602
673,401
Suspense, &c
Miles of pipe lines_ _ _
No. of holders
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
Boston Elevated Ry.-EastCambridge ElevatedExtension
On June 1 the company put in regular operation the East Cambridge
elevated extension, extending from Lechmere Sq., East Cambridge, through
the West End of Boston, to the North Station, connecting there with the
elevated and subway system. Elevated construction is about 1.2 miles
long; bridge about 1,700 ft. Cost, exclusive of cars, power and incidentals,
$3,500,000.-V. 94, p. 1185, 67.
Brooklyn City RR.-Decision of Appellate Division.
ee Brooklyn Rapid Transit Co. below.-V.94, p. 122.
Brooklyn Rapid Transit Co.-Financial Plan.-It was
reported this week that in place of selling the bonds of a
subsidiary company in order to finance the new construction
called for by its agreement with the city,the company may
decide with the bankers who are going to handle the new
securities-Kuhn, Loeb & Co. and the Central Trust Co.for an issue of 5% 6-year notes of the subsidiary company,
secured by collateral and guaranteed by the B. R. T. See
"Rapid Transit in N. Y. City" below.
Decision of Appellate Division.-The Appellate Division of
the Supreme Court, Second Department, yesterday handed
down a unanimous decision affirming to the extent of $1,740,258 principal (with interest, it is reported, for over two
years) the judgment awarded by the lower Court in the suit
of the Brooklyn Heights RR. Co. against the Brooklyn City
RR.for expenditures under the lease. Compare V.90,p.558.
The B. R. T., however, claims a much larger amount of interest,and is
expected to carry the ease to the Court of Appeals to recover this additional amount.-V. 94, p. 1507, 487.
Butte County RR., Cal.-Increase of Stock.The company (controlled by the Diamond Match Co.) has filed notice of
increase of its capital stock from $1,000,000 to $1,250,000.-V. 78, p. 286.
Canada Southern Ry.-Mortgage Approved.The stockholders on Wednesday authorized the making of a mortgage
to secure an issue of 5% bonds (present issue to be $22,500,000),guaranteed
by the Michigan Central. See V. 94, p. 1316, 982.
Chicago Milwaukee & St. Paul Ry.-97% Subscribed.The company announces that 97% of the $35,000,000 4%
convertible bonds offered for subscription has been taken
by the stockholders, leaving only $1,050,000 for the underwriting syndicate. See V. 94, p. 1056, 1118.
Concord & Montreal RR.-$1,500,000 Class IV. Stock.
The shareholders on June 4 authorized $1,500,000 additional class IV.
stock, which will be offered to the stockholders at $160 a share. We are
advised that parties stand ready to take all shares not subscribed by present
stockholders. See V. 94, p. 910, 1507.
Denver Laramie & Northwestern RR.-Directors.-
On May 29 four directors of the Northwestern Land & Iron co. namely
'
H. B. Patton, of Golden; F. N. Briggs, of Denver; T. C. Henry, ofDenver,
and D. M. Rothwiler, of Bison, Kan., all of whom were on May 25 elected
comboth
of
boards
the
from
resigned
railroad,
to the directorate of the
panies because of the contentions of opposing factions. The vacancies in
the railroad board were filled May 30 by the election of W. D. Moore, of
Wichita, Ran.; J. E. McCarthy, of Enid, Coda; Peter Mangold, Bennington, Neb. and Isaac Shockcy, of Abilene, Kan. W. C. Green was made
Pres.; he, and W. W. Garwood, I. W. Crumly, Colby, Kan., W. M. Irwin
and J. R. Pearson, Denver. compose the executive committee. Mr. Green's
plan for assessing the stockholders, it is said, has received the indorsement
of the board. Compare V. 94, p. 1382.
Denver & Rio Grande RR.-Listed in New York.-
The New York Stock Exchange has listed subscription receipts for
$10,000,000 adjustment mortgage (7% cumulative income) bonds, first
installment (25%) paid (V. 94, p. 911).-V. 94, p. 1118, 911.
- The mortgage to the New York Trust Co., as trustee, was filed for record
late last month.-V.94, p. 1118, 911.
Indianapolis Crawfordsville & Danville El. Ry.-Lease.-
See Terre Haute Ind. & East. Traction Co. below.-V. 94, p. 1449.
Indianapolis Newcastle & Eastern Trac. Co.-New Co.-
The company (previously mentioned as the Indianapolis Newcastle &
Northeastern Tract.Co., V. 94, p. 1449) was incorporated in Indiana on
June 1 with $1,000,000 auth. stock, as successor of-the Indianapolis New
Castle & Toledo By.. recently foreclosed. Incorporators: John P. Todd,
Frank Thompson, Fred. A. Likely, William Winter and Blythe Q.Hendricks
Interborough Rapid Transit Co., New York.-Bonds Overto the syndicate underwriting the
Canadian Northern Pacific Ry.-Sale of Z1,000,000 43, &c. subscribed.-Subscriptions
new 1st M. 53-year 5% gold bonds are announced to be in
See Canadian Northern Ry. below.-V. 94, p. 559.
excess of the $170,000,000 offered by J. P. Morgan & Co.
Canadian Northern Ry.-Bond Sale.-The "Monetary
The larger subscribers will receive somewhat less than the amount for
will be given
Times" of Toronto says."We are advised that the company which they applied, while applicants for smaller participations
full amount. There are several hundred participants in the syndicate.
recently sold privately in London to a syndicate £1,000,000 the
considerable amount was subscribed abroad. The syndicate is now
A
sterling 4% 'bonds guaranteed by the British Columbia complete and allotments fixed, but active operations on the part of the
be held in abeyance pending a decision from the Court of
Government. About £250,000 were re-sold by the syndicate syndicateaswill
to the legality of the agreement with the city. See Rapid
at 99." [The bonds in question are presumably issued by Appeals
Transit in N. Y. City below and in V. 94, p. 1449; also further particulars
the Canadian Northern Pacific Ry. See V. 93, p. 1461.]
in V. 94, p. 1507, 1249.
1566
THE CHRONICLE
Jackson (Miss.) Light & Traction Co.-Sale of Bonds.P. W. Brooks & Co., New York and Boston, recently offered
at 96 and int., to net over 53%, and have wholly sold,
$700,000 1st M.sinking fund 5% 10-yr. gold bonds due Apr. 1
1922, but callable all or for sinking fund installments from
April 1 1914 at 105 and int. Par $100,$500 and $1,000 (c*).
"A. first and only mortgage." Trustee, Chicago Savings
Bk. & Tr. Co. Int. A. & 0. at N. Y. office of P. W. Brooks.
Abridged Data from Kelsey. Brewer &Co., Grand Rapids, Mich., Apr. 26.
Incorporated (in Miss. on or about May 23 19121 to acquire and combine
the local gas, electric light and power and street railway properties, the first
of which began business in 1860, 1872 and 1888. respectively. Franchises
satisfactory and extend beyond bond maturity. Contract for city lighting
runs until April 1923. Management and ownership is held by Kelsey,
Brewer & Co., who own and successfully operate ten public utility properties in several cities in the Union.
Property: (a) Gas generating equipment of three benches of six retorts
each; holder capacity 100,000 cu.ft. capacity. (b) Brick electric generating
plant only four years old. Three Curtis turbines, aggregating 2,500 k. w.
Transmission system 212 miles of line, besides 14 miles of trolley wire.
(c) 14 miles of street railway, with 18 passenger cars of standard make,
and other rolling stock. (Properties bought outright. No old bonds out.]
CapitalizationAuthor.
Issued.
Reserved.
Common stock in $100 shares
$1,000,000 $1,000,000
Preferred stock (6% cumulative)
600,000
520,000
First M.5s, due April 1 1922
2,500,000
700,000 x160,000
x In escrow for improvements when earnings are 1 M times interest.
Further of the authorized bonds additional to those now reserved and
Issued can be issued for only 75% of the cost of permanent improvements,
extensions or additions when the annual net earnings are twice the annual
interest charges, including bonds then to be issued, plus 1 M times the annual sinking fund. Sinking fund annually, beginning Feb. 1 1914, a sum
equal to 2% of bonds then outstanding, bonds so retired to be canceled.
Revenue Account for Years Ending March 31.
1912.
1911.
Gross income
$258,035
$248,680
Net (after taxes), applicable to bond interest
95,081
82,160
The earnings are now at the annual rate of approximately $270,000
gross and not less than $100,000 net. The opportunity for the development of new business, both with and without extensions of the several
plants, is unusually good.
Territory.-Present population of Jackson and suburbs, substantially
23,000. From 1900 to 1910 Jackson increased in population about 173%.
The nine banks and financial institutions have combined capital, surplus
and undivided profits of $1,479,500. About 40% of the local manufacturing and industrial concerns have been established since 1906. As a
wholesale distributing centre, now serves points from 27 to 70 miles distant.
[VOL. Lxxxxiv.
Pere Marquette RR.-Protective Committeefor 4s of 1901.Receivers having been appcinted, holders of the $8,382,000
4% 50-year consols of 1901 are requested by the following
committee to make deposits of the bonds with the Farmers'
Loan & Trust Co., 22 William St., New York:
Edwin S. Marston, William W. Crapo, Charles W. Cox, Jacob E. Ward
and C. Minot Weld, with Strong ec Cadwalader, as Counsel.
Interest Payment-Receivers' Certificates.-The interest due
June 1 on Chicago & West Michigan 1st 5s was paid when
due at office "of J. P. Morgan & Co.
The $3,500,000 5% receiver's certiftentes authorized last week (subject to
right of Farmers' Loan & Trust Co. until June 12 to Interpose an objection,
should occasion therefor be found) are described as follows by the "Detroit
Free Press." Dated June 1 1912 and due June 11915, but redeemable as
a wholeon any nt.date at 101 and int. after duo notice. Interest payable
J. & D. The certificates are to be a lien ahead of tho general mortgage
bonds but subordinate to the underlying bond issues. See also V.94,p.1509.
Porto Rico Railways.-X200,00 Bowls Offered in London.
Royal Securities Corporation, Ltd., offered in London on May 21 £200,000 5% refunding general mortgage bonds at 92 yi %. Due May 1 1962
but callable as a whole, or for cumulative sinking fund equal to 1% of
outstanding bonds (beginning in 1937), at 105 and int. Interest M. & N.
In London, Montreal and Toronto at $4 86 2-3 to £1. Par $100 c'. Secured by trust deed dated May 1 1912 (Montreal Trust Co., trustee), as a
fixed and specific mortgage and charge upon all real estate and franchises,
both present and future, subject to mortgage dated Nov. 1 1906, securing
1st M. 5s due Nov. 1 1936, total issue $3.000,000, of which $123,000 redeemed by sink. fd. Total auth., £1,500,000; present issue; £200,000; reserved to retire 1st M. 5s, £600,000; issuable for future requirements,
provided net earnings are twice the total interest charge, including the bonds
proposed. Prospectus shows:
Audited Earnings After Large Provision for Maintenance.
1910.
1911.
1909.
1908.
1907.
Gross
$779,904 $561,661 $409,031 $376,243 $349,868
Net, after oper. exp _ _$379,784 $267,759 $194,344 $172,598 $134,738
The surplus earnings for 1911, after providing for interest and sinking
fund on the 1st M. bonds, were more than four times the amount required
to pay the annual interest on the £200,000 new bonds. The net earnings
for the first 3 months of 1912 show an increase of 22%. The proceeds of
the present issue will be used for extensions, which should largely increase
the earnings. (See page 134 of "El. Ry. Sec.")-V.94. p. 1186 1057,
The N. Y.Stock Exchange has admitted to the list the full-paid subscription receipts for the 4)% debentures.-V. 94, p. 1118, 1056.
Rapid Transit in New York City.-New Construction.Kansas City Mexico & Orient Ry.-Listed in London.-The
London Stock Exchange has listed Glyn & Co.'s certificates The mileage and estimated cost of the Proposed new construction and equipment are stated as follows:
of deposit for $8,432,000 1st M. 4% bonds.
Proposed Extensions and Present Mileage,
Sale of Receivers' Certificates for Extensions, &c.-Under
Road
Track
Track
Total
(1) Interborough Rapid Transit Co.miles. subway, elevated.
order of Judge John C. Pollock in the Federal Court at Kantrack.
Company's present lines
25.90
56.10
16.90
73.00
sas City pn May 31, the receivers have sold to R. L. Day & New-Built jointly by city and company 48.50 75.60 71.50
147.10
Co., Boston, $1,000,0001st lien 5% 2-yr.receivers' certifs.
74.40 131.70
88.40 220.10
(callable at 102 and int. at any time on 30 days' notice) at a
(2) Brooklyn Rapid Transit Co.
price variously reported as 98.50, 98.52 and 98.59, with a 30 Company's present lines
41.04
104.90 104.00
New-Built by the company
30.14
1.60
85.78
84.10
days' option on the remaining $1,500,000 at the same price.
New-Built jointly by city and company_ _ 26.90
6.00
69.90
75.06
The proceeds will be used for extensions and improvements, including,
It is said, first, a line from Granada to Fort Stockton, Tex.,32 miles,and
thereafter 63 miles to Alpine, Tex. where a connection will be made with
the Southern Pacific, thus affording a through traffic arrangement to
California and Mexico.-V. 94, p. 1508, 1383.
Missouri & North Arkansas RR.-Offering of First Lien
Receivers' 5% Certificates at Par.-Francis, Bro. & Co. and
the Mercantile Trust Co., both of St. Louis, are offering at
par and mt., by advertisement on another page, the unsold
. portion of the present issue of $1,250,000 receivers' certificates. Dated May 1912, due May 1 1915, redeemable as a
whole after May 1 1913 at 101 and int. on 60 days' notice.
Int. M. & N. Both prin. and int. payable at theMercantile
Trust Co., St. Louis. Par $1,000 . Total amount auth.,
$2,500,000; present issue, $1,250,000. The remaining certificates are reserved against future expenditures for improvements. The bankers say:
•
(3) Toth Both SystemsPresent lines
New lines
98.08
71.50
195.00
206.64
66.94
105.54
56.10
147.16
121.80
161.68
177.90
308.84
Totals
172.48 203.26 283.48 486.74
Estimated Cost of New Construction and Equipment.
(1) Interborough SystemBy the city
$59,649,250
By the company
56,000,0004115,649,250
(2) Brooklyn Rapid Transit SystemBy the city-New lines
$64,722, e
By the company-For city lines
13,000,000.. $77,722,950
By city for 4th Av.(Bklyn.) and loop lines now under constr_
28,480,000
By company for elevated extensions and improvements
21,000,000
Total Brooklyn Rapid Transit system
(3) Total Both SystemsBy the city-New lines
By the city-Under construction
By the operating companies
Cost of EquipmentInterborough Company
Brooklyn Company
$127,208,950
$124,372,200
28,486,000
00,000,0004242,858,200
This Issue of certificates is secured by an absolute first lien upon the entire
$21,000,000
property, upon which there has been expended, exclusive of the amount of
26,000,000- 47,000,00(1
these certificates, over $9,000,000. The total authorized issue figures less
than $7,600 per mile, including equipment. The Court's order provides
Grand total
$289,858,200
that any certificates Issued in addition to the $2,500,000 authorized shall be
Compare Interborough R.T. Co., V.94, p. 1507, and see also V. 94,p.1449
secured by a lien subordinate to these certificates.
The railroad comprises about 360 miles of main line (including 29 miles
Reading CO.-Daniel Willard a Director,operating under trackage contracts with the Kansas City Southern RR. Co.
Daniel Willard, Pres. of the Baltimore & Ohio RR., has been elected a
and the St. Louis & San Francisco RR. Co.) and extends from Joplin, Mo.,
southeastwardiy across Arkansas to city of Helena on the Mississippi River, director to succeed Oscar G. Murray, who resigned.-V. 93, p. 1789.
together with extensive sidings and spur tracks, station buildings ami
Seaboard Co.-Dissolution of Holding Company.grounds, rolling stock, a valuable terminal site at Helena, and an equal joint
Vice-Chancellor
of N. J. Chancery Court has signed an order
ownership with the Atchison. the M. K. & T. and the K. C.Southern railway approving the planStevens
for distribution of assets of Seaboard Co., the holding
companies in valuable terminals at Joplin. The road serves a fertile anti company of Seaboard
Air Line Ry., first pref. stock to receive in oash
rapidly developing and prosperous country. These certificates are a first $101 76 per share and 2d
pref. and corn. to be exchanged for 2d pref. and
and paramount lien on all property, rights, franchises, and on all equipment corn. stock of Seaboard Air Line By.on basis stated in plan in V.93,
p.1601.
and improvements to be purchased and made with the proceeds of the sale -V. 94, p. 69.
of same. The road is practically free from floating debt, so that the money
provided by this Issue over and above $225,000 required to discharge a
Seaboard Air Line Ry.-Large Block of Stock Soldjudgment lien will be expended in renewing and increasing the equipment Southern
and Other Independent Interests Now Own
of the road and making improvements and betterments on the line, its
terminals, stations and shops, to put the property In first-class condition. Control.-S. Davies Warfield of Baltimore has purchased
See also V. 94, p. 1384, 1186.
from the Cumberland Corporation (See V. 94, p. 1448) 90,000
New Orleans Railway & Light Co.-First Common Dividend.-An initial dividend of 1% has been declared on the
$20,000,000 common stock, payable July 1 to holders of
record June 14.-V. 94, p. 1116, 1057.
New York Railways Co.-Car Barns Property Sold.-
The sale was announced this week of the Fourth Ave. car barns property,
Including the entire block bounded by Fourth and Lexington avenues and
32d and 33d streets, to clients of Samuel Untermyer at a price reported as
about $1,750,000.-V. 94, p. 1186, 977.
New York State Railways.-Meeting Again Postponed.-
The meeting of stockholders to authorize the new mortgage for $50,000,000, which was originally set down for May 14 and several times adjourned,
has been further postponed to June 15.-V. 94, p. 1508, 1384.
Pennsylvania RR.-Equipment Trusts Sold.-The company has sold to Kuhn, Loeb & Co. an issue of $6,000,000
"Pennsylvania general .freight equipment trust" 4% gold
certificates, dated June 11912,issued in ten series of $600,000
each, each series due in ten annual installments from June
1913 to 1922 inclusive. Guaranteed both as to principal
and interest by the Pennsylvania RR.
The proceeds of the issue will be used to purchase additional equipment
for the lines of the system both east and west of Pittsburgh, about 5,000
freight cars of various types being ordered. This is the first sale of such
securities since May 1910, when $11,000,000 of similar certificates were sold.
(V. 90, p. 1425.)-V. 94, p. 1384, 1317.
shares of preferred and 120,000 shares of common stock of
the Seaboard Air Line Ry. It is understood this block of
stock will be trusteed for five years, Mr. Warfield being
Chairman of the Managers.
While recent rumors indicated other purchasers of the
Cumberland Corporation holdings, the definite statement
from Mr. Dennis that Mr. Warfield, for himself and associates, had made the purchase was not altogether a surprise, it being known that during the last year Mr. Warfield
had acquired in the market a large holding of Seaboard
stocks. This association of interests, it is announced, will
represent a majority of the stock [$37,019,000 common and
$23,894,100 pref.] of the Seaboard Air Line Ry.
Associated with Mr. Warfield in the present purchase are
leading financial interests in States of the South traversed by
the Seaboard System; also New York men, among the latter:
F. A. Vanderlip, Albert H. Wiggin, Blair & Co.,
. Benjamin Strong Jr.,
Chas. H. Sabin, Samuel L. Fuller, of the banking firm of Kissel, Kinnicutt
of the Rock Isl, Co.
formerly
board
Co.;
Walker,
Roberts
Chairman of the
&
Blair & Co. have an interest In the Warfield syndicate, the Hvan and
Coolidge interests retire, Mr. Ryaci having 'eithdrawn from partaelpatton
In Seaboard affairs when he gave up active business.
(The announcement of the sale of this block of Seaboard stock was made
by John B. Dennis of Blair & Co., bankers, and fiscal agents for the Cumberland Corporation, which is the owner of the Carolina Clinchlield & Ohio
By. and the Clinchfield coal fields in Southwest Virginia.]
JUNE
1932.j
THE CHRONICLE
Statement Made by Mr. Warfield on June 6.
It is true that the Cumberland Corporation's holdings of Seaboard stock
have been acquired by me for myself and associates. The Seaboard Air
Line fly. Is distinctly a Southern property, and the South's position in
Seaboard affairs will now be emphasized. Its independence as a Southern
line should be preserved. The road should be operated as such, and from
and in the South. The board of directors should include representative
business and financial men from Southern States through which it operates
connecand as the representatives of Southern interests. The financial
for its
tions of the railroad are enlarged, insuring the procuring of money
development on the best terms with resultent benefits to both the territory
of the
it serves and to its security-holders. After Oct. 1 the meetings
directors will be held at the offices at Baltimore, an important terminal
of the Seaboard System and the natural gateway to the South.
Dissolution of Seaboard Co.-See that company above.
-V. 94, p. 1058, 983.
Southern New England Ry.-Bill Passed by Legislature.The Massachusetts House of Representatives on June 5 concurred in the
to
amendments made by the Senate to the bll permitting the company
extend Its lines from Windsor. Vt., to Boston, &c. The bill goes to the
Governor. Compare V. 94, p. 1450. 1385.
Southern Traction Co., Dallas, Tex.-Contractfor Power.See Texas
Power &
Light Co., V. 94.. p 1511, V. 94, p. 1187.
Terre Haute Indianapolis & Eastern Traction Co.-Lease.
-The company has taken a 999-year lease of the Indianapolis
Crawfordsville & Dansville Electric Ry. (see V. 94, p. 1449,
now in operation between Indianapolis and Crawfordsville,
Ind., 45 miles, and projected to run to Danville, making
about 90 miles in all.
Under the lease the T. H. I. & B. guarantees the prin. and int. of $1,000,000 1st M. 5% bonds and the payment of the 5% div. on $200,000 pref.
stock of the Indianapolis Crawfordsville & Danville Elec. fly. Co., which
was recently organized (V. 94, p. 1449), as successor of Ind. Craw. & Western Trac. Co., foreclosed. The total auth. issue of bonds is $2,500,000, pref.
stock $400,000 and corn. stock $400,000. The remaining $1,500,000 bonds
and $200,000 pref. stock, now in the treasury, is principally reserved for the
construction of the extension from Crawfordsville to Danville, Ill., whenever
such construction shall be thought advisable.-V.94, p. 209.
Toledo Rys. & Light Co.-Reorganization Prospects, &c.
The bondholders' and stockholders' committees at the meeting held on
Thursday failed to decide upon the complete plan of reorganization of the
property. It was agreed, however, to appoint a committee of three to
represent the bondholders to meet a committee of three representing the
stockholders of the company in an effort to agree upon a plan of reorganization, with instructions to report back to the bondholders' committee on or
before June 26 if a plan of reorganization has been agreed upon by that time.
If the sub-committees fail to agree upon a reorganization plan satisfactory to both committees, the bondholders will at once proceed to take
steps to reorganize the company on a plan of their own.
Arrangements were also made at the meeting to pay int. on the bonds due
July 1, amounting to about $190,000, and also for improvements to the
Monroe St. line in Toledo calling for about $150,000, of which $60,000 for
double-tracking and $90,000 for other purposes.
The present temporary test rates of 30. a ride for two hours in the morning
and two hours in the evening of each day and 6 tickets for a quarter during
the remainder of the day will remain operative until about the middle of
July, in order that it may be determined what is a just and equitable rate
'for the company to charge.
It is stated that the plan of reorganization finally decided upon will
probably take the form of the one announced previous to the negotiations
which were entered into with H. M. Byllesby & Co. (see V. 93, p. 1727;
V. 94, p. 125), and that the situation in Toledo is favorable from the view
point of the attitude of the city authorities toward the company, and it is
-confidently expected that the plan of reorganization to be agreed upon will
be carried out without opposition.-V. 04, p. 1509, 1384.
Union Traction Co., Anderson, Ind.-Three New Directors.
The following have been elected directors: Randal Morgan and J.
Levering Jones, Philadelphia; W. Kcsley Schoepf, Cincinnati; John T.
Frenzel and Harold B. Hibben, Indianapolis; Philip Matter, Marion; Frank
C. Ball, Muncie; R. K. Willman, Hartford City; Arthur W. Brady, Anderson. Of these Messrs. Frenzel, Bail and Willman had no previous official
connection with the company or Its predecessors.-V.94, p. 1385, 1121.
Wabash RR.-Decision of Appellate Division.-
The Appellate Division of the Supreme Court in this city on May 31
decided in favor of the defendants the suit brought by James Pollitz, a
stockholder, against the company and its directors to set aside as fraudulent
an issue of $10,000,000 common stock for $10,000,000 common stock of the
Wabash Pittsburgh Terminal Co., alleged to be valueless. It was alleged
that the directors arranged the matter to enable them to get $10,000,000
Wabash stock and $33,400,000 Terminal company bonds for $20,000,000.
The Court sustained the contention of the defendants that the transaction
was ratified by a majority vote of the stockholders, 79% of the stockholders
and 73% of the bondholders voting unanimously to approve it at the
annual meeting.-V. 94, p. 1385, 1250.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Alabama Consol. Coal & Iron Co.-Merger Unlikely.A meeting of the pref. stockholders was held in Baltimore May 31 at the
call of a committee, organized under agreement of Nov. 1911, consisting of
H. C. Perkins, John Skelton Williams, E. N. Rich, Douglas H. Gordon and
J. W. Middendorf, "to form a larger committee with broader powers, to
protect all pref. stockholders, In connection with the advertised sale at
public auction on June 3 of $1,250,000 of the company's bonds held as
collateral under a debt of the company of about $330,000. and in connection
with the report that the proposed merger with the Southern Iron & Steel Co.
would not be consummated."
At this meeting Joseph H. Hoadley, Chairman of Ala. Consol. Coal & Iron
Co., announced that Charles M. Schwab had promised to aid in company's
reorganization, provided merger with Southern Iron & Steel Co. fails.
Judge Rose on June 3 issued an order restraining the Baltimore Trust Co.
from selling the aforesaid collateral. The hearing was set for June 12. An
agreement has been circulated asking the pref. shareholders to contribute
$10 a share to meet company's pressing requirements.-V.94, p. 1450, 1251.
Amalgamated Asbestos Corporation, Ltd., Montreal.The Royal Trust Co., as trustee for the holders of the 1st M. bonds of
1909, will receive offers for the real estate, property and assets of the corporation up to and including June 10.
Subscription.-Royal Trust Co., Montreal, by advertisement dated May 1, offered:
To the bondholders and preferred stockholders, the right to subscribe
on or before June 8, under tile terms of plan approved by the bondholders
at the meetings held on Feb. 29 and Apr. 26 1912, for first mortgage bonds
of the new company (Asbestos Corporation of Canada, Ltd.) as follows:
(a) $500,000 to the old bondholders at 85%, with 100% bonus of new common stock; (5) $375,000 to the pref. stockholders on the same terms and
conditions. Denominations of new bonds, $100, $500 and $1,000, dated
July 1 1912. This offer assumes that the reorganization committee will
purchase the property at said sale. See also V. 94, p. 1318, 828, 581.
Amalgamated Copper Co.-See "Annual Reports."
New Director.-William G. Rockefeller, who retired from
the board some years ago, has been elected a director to suc'coed John D. Morony.-V. 94, p. 1121, 828.
American Coal Products Co.-Earnings of Combined Cos.For year ending Dec. 311911:
1567
,_$1,491,117 Applicable to dividends $1,062,330
Net profits
about 740,463
$275,000 Dividends (7%)
Maintenance charges
Extraordinary items not
about$321,867
Surplus
153,787
applicable to 1911
The balance applicable to dividends as above. $1,062,330, compares with
$1,393,903 in 1910, $1,285,173 in 1909, $940,409 in 1908 and $1,520,262 in
1907.-V. 94, p. 1318, 913.
American Gas & Electric Co.-Stock Subscriptions.-
The company announces in a circular to the holders of common stock
voting trust certificates that, as the temporary injunctions in the two suits
(V. 93, p. 913, 1251), restraining the company from issuing any of the
$500,000 new common stock or obtaining or receiving subscriptions therefor,
have been dissolved, the company is now in a position to receive subscriptions for the new stock. As the original time fixed for the making of subscriptions and paying the first installment of the purchase price has already
expired (see V. 94, p. 700), stockholders are, for the sake of convenience.
required to pay the entire purchase price at one time instead of in two installments. Subscribers may, therefore, make their subscriptions, surrender their subscription warrants and pay the purchase price of the stock to
which they are entitled to subscribe, on or before July 1 1912. A discount
at the rate of 5% per annum will be allowed on all payments from date of
payment to July 1.-V. 94, p. 1251, 913.
American Linseed Co., New York.-New President-
It. H. Adams,formerly Gen. Mgr., has been elected President to succeed
Henry E. Cooper, who resigned, but who remains Treasurer and also a director.-V. 93, p. 1602.
American Snuff Co., Memphis,Tenn.-Dividend Increased.
A quarterly dividend of 2 3i% (the second since the sale of part of the
properties to the Geo. W. Heime and Weyman-Bruton companies, V. 94,
p. 280) has been declared, payable July 1 to holders of record June 15, comparing with 2% on April 1, the only previous dividend under present conditions. This contrasts with 5% and 2% extra in Oct., July and April
last and 5% and 3% extra in Jan. 1911.-V. 94, p. 700, 694.
American Water Works & Guarantee Co.-4510,000,000
Pref. Stock Over-Subscribed,-J.S. & W.S. Kuhn,Inc., fiscal
agents for the company, announce that the issue of $10,000,000 6% cumulative participating pref. stock offered last
week was largely over-subscribed, the subscription books
closing immediately. Allotment is to be made not later than
June 15. See V. 94, p. 1509.
Barney & Smith Oar Co., Dayton, O.-Officers-Earnings.
Officers.-H. M. Estabrook, who was First Vice-Pros, and Gen.Mgr., and
has been connected with the company since 1885 in various capacities, has
Leon elected President, succeeding A. M. Kittredge, who resigned April 17.
A. J. Stevens takes the place of Mr. Estabrook as Vice-Pres. and Gen. Mgr.
Other officers are: J. F. Kiefaber, 2d Vice-Pres.; E. A. Oblinger, Sec. and
Asst. Treas., and E. H. Sines, Asst. Sec.
Directors: Joseph Rawson, Walter St. John Jones and John L. Lincoln.
Cincinnati; Eugene J. Barney, E. F. Platt, H. M. Estabrook, A. J. Stevens
and J. F. If lefaber, Dayton.
Total
Bond
Profit on
Balance
Year end.
Preferred
Surplus.
for Year.
Dividends.
Mch.31- Operation. Interest.
1911-12 ___ _$112,097 $100,000 (6%)$150,000 def.$137,903 $351,399
489,302
(2%)50,000 sur. 183,880
100,000
1910-11 ____ 333,880
305,422
sur. 110,789
100,000
1909-10 ____ 210,789
The report states that no charge has been made for depreciation because
the plant and equipment have been kept in first-class condition and the
cost charged against earnings, thus fully maintaining the efficiency of the
plant.-V. 92, p. 528.
Buffalo (N. Y.) Electric Vehicle Co.-Merger.-This company has been floated through the instrumentality of John T.
Steele, Buffalo. Mr. Steele reports:
Incorporated in N. Y. State and has acquired by purchase and will con.
solidate Babcock Electric Carriage Co., Buffalo Automobile Station Co.Buffalo Electric Carriage Co., Clark Motor Co. Will continue the manufacture of the Babcock electric pleasure cars and the Van Wagoner trucks.
The Buffalo automobile station will be operated solely for the convenience
of the company's patrons and the service will be rendered at a nominal cost.
Capitalization (in $100 shares): Preferred (p. & d.) shares, 7% cum.,
dividend Q.-J., convertible into common stock on or before July 1 1917 at
par and callable and redeemable at 110. Auth.,$300,000;issued, $250,000.
Common shares, auth., $700,000; Issued, $600,000.
The N. Y. 8: Buffalo Audit Co. on March 20 reported that the Initial balance sheet, after selling the pref. stock at par and taking over the assets
and debts of the several cos. would show: Assets-Cash, $269,615; notes
and accounts receivable, $15%553; inventories, $224,031; Inventoried land,
buildings and equip., $144,111; prepayments, &c., $6,200: leases, patents,
contracts and other assets, $400,000; common stock in treasury. $40,000
total, $1,099,601. Offsets-Pref. stock, $250,000; common stock, $600,000; notes payable, $117,749; mortgages, $25,000; accounts payable, $27,019; reserve, $79,832; total, $1,099,601. The volume of business of the
Babcock Electric Carriage Co. and the Buffalo Automobile Station Co.
for a period of six years shows a total of $1,805.913, and the net earnings,
after deducting for deprec'n, int., &c., shows an annual average of $24,730.
With the present equipment an annual output of $1,250,000 should be
manufactured-the capacity of the plant being two machines per day,
and should result in an annual average profit to the stockholders of $150,000.
If dividends on the common stock exceed 7% per annum, an amount
equal to such excess shall be placed in a sinking fund to retire pref. stock.
The pref. stock cannot be increased without the written consent of threefourths of all the stockholders, and no mortgage or other lien can be created
by the corporation without the consent of 75% of the pref. stock outstandeing. Mr. Steele recently offered $50,000 of the pref. stock (all underwritten) at par, with a bonus of 25% in voting trust certificates. Provision
has been made for the first year's dividends from accumulated surplus.
The control is in trust for five years through deposit of all the common stock
with three voting trustees.
Officers: Samuel J. Dark, Pres.; A. A. Landon and W. A. Morgan, vicePresidents; Harry Yates, Treas.; Alfred W.Thorn, Sec.
Central Iron & Steel Co., Harrisburg.-Report, etc.
The holders of 1st M. 5% bonds on June 3 ratified the appointment of
the Girard Trust Co. of Phila. as substitute trustee to succeed the Harrisburg Trust Co., which resigned.
Receivers J. V. W. Reynders, J. M. Cameron and Charles L. Bailey Jr.,
in a preliminary report, which shows that the company's embarrassment was due to "advances outside of the ordinary course of business,"
said under date of April 12: "Default has been made in the payment
to the sinking fund for the $1,239,000 outstanding bonds, and after three
months from March 1 the trustee will be in a position to commence proceedings for foreclosure. It is hoped, however, that the IVA of the bondholders may be so protected as to avoid such proceedings.
Assets de Liabilities Feb.6 1912,from Audit by Lybrand, Ross Bros. cit. Monty'y
Assets-Cash, $25,345, and bills & accts. receiv. (good), $251,292 $276,637
Inventories: Ore at docks, less loan of $84,500, $132,829; ore
at furnace. $115,794; raw materials, $201,713; stores and
supplies, $24,107; finished plates,$61,657; 0th. items, $63,937 600,037
12,764
Loans to employees, $10,651; prepaid insurance, $2,113
60,000
Mohawk Min. stk. (Lake Superior iron ore), less $140,000 loan_
51,236
Machinery parts in reserve
2,684,129
Real estate, buildings and equipment, book value
(7)
Accounts receivable, considered doubtful $873,391
Total assets
Liabilities-Accounts and bills payable for merchandise
Loans not secured
Loan accounts Edward Bailey and others
Accrued taxes, bond interest and interest on loans
Wages and salaries unpaid
First M. bonds, $1,239,000; car trust bonds, $15,000
$3.684,804
$671,053
510,975
422,305
18,736
21,854
1,254,000
$2,899,823
Total liabilities
$784,981
Excess of assets over liabilities
the late
Bailey,
"Among these accounts are charges against James B.
Treasurer of the company, the West Endeinance Co. and the Lucknow
1568
THE CHRONICLE
Iron & Steel Co. (all of whom have been adjudicated bankrupts),and other
companies, amounting in all to $797,129, as to which the adultors say: 'In
general they represent advances outside of the ordinary course of business,
none of which, so far as we can find by an examination of the minutes, were
authorized by the Central Iron & Steel Co. The matter of these accounts
has been referred to counsel to determine what action may be appropriate
for their collection either from those to whom they are charged or from
such sources of liability as may be disclosed."
"In addition to the above items the company owns the capital stock of
the Connellsville Basin Coke
hich. is the owner of about 2,000 acres
of coking coal in the Mortown,
Co.,W. Va., district, and there are outstanding
$545,000 bonds of that company of which the Central Iron & Steel Co. has
guaranteed the principal and interest."-V. 94, p. 769, 418.
Chesapeake & Delaware Canal Co.-Earnings.Year end. Rev. from
Other
Total -Expenses
Net
Int.on Balance,
May 31-Tolls.
Rev.
Rev. ee Maint. Rev. M. loan. Surp.
191-2
$164,571 $4,241 $168,812 $59,814 $108,998 $104,118 $4,880
1911
175,507 4,323 179,831 63,708 116,123 104,118 12,005
Contingent fund May 31 1912, $80,064, against $75,183 in 1911.
The falling off In revenue from tolls, it is stated, is due to the fact that
the canal was closed on account of ice several weeks last winter, compared
with only five days the year before.-V.90, p. 1556.
Connellsville Basin Coke Co., Morgantown, W. Va.See Central Iron & Steel Co., Harrisburg, Pa., above.
Dominion Steel Corporation.-Report of All Cos.Period Covered-
Dominion Coal Company, Ltd.
Preferred
Net
Sk. Fd., Int. an
Earns. Depr.,&c. Bds.,&c. Dividends.
Balance,
Surplus.
[VoL. Lxxxxxv.
$4,000,000 new pref. 7% cumulative capital stock in amounts equal to
80% of their respective holdings, subscriptions to be paid on or before
July 1 1912. It was voted on May 28 to increase the auth. stock from $6,000,000 ($1,000,000 pref.) to $15,000,000, consisting of $1,000,000 corn.
stock and *5,000,000 pref. subject to provisions stated in letter of Apr. 10
1912. F. A. Selberling is Pres. and G. M. Stadelman Sec. Compare
V. 91, p. 1059, 1510.
Hamburg-American Steamship Co.-Government Suit.The Government on June 5 filed a suit in the U. S. District Court in this
city to enjoin the Lainport & Holt Line, the Prince Line, the HamburgAmerlkanische Packetfahrt Actien-Gesellschaft and Hamburg Sudamerikanische Dampfschifffahrts-Gesellschaft and a number of individuals
and firms associated with them from continuing the alleged conspiracy to
monopolize the freight and passenger traffic between this country and
Brazil, or offering or paying any bonus, rebate or preference rates, or doing
anything to suppress free competition.
It Is alleged that for a number of years there has been a pooling agreement
(the last entered into about June 30 1909), under which the number of
sailings was fixed and apportioned among the several lines and a system
of rebates fixed for shippers who confined their shipments to the defendants' or allied lines, also a tariff of rates for freight and steerage passengers
and fines for breach of the pooling agreement. The full text of the Government's petition in the suit was given in the "Journal of Commerce" of
June 6.
Charles E. Pickett was on June 5 appointed by Circuit Judges Lacombe,
Coxe, Noyes and Ward special examiner to take testimony in the Government suit against the Hamburg-American and other steamship companies
to dissolve the North Atlantic Conference.-V.94, p. 1319.
Hamilton (0.) Gas & El. Co.-Trustee's Sale in Bankruptcy.
The sale will take place on July 9 1012 at Hamilton, 0. The property
Yr. end. Mch. 31 1912_2,274,111 414,010 379,685 (7%)210,000 1,270,416 comprises the gas and electric plants; also the capital stock of the Hamilton
15 mos.end.Mch.31'11_2,118,687 500,000 437,834 (8 %)262,500 918,353 Otto Coke Co., a 100-oven by-product coke plant of recent and modern
construction; total appraisement, $740,147.
Dominion Iron & Steel Co., Ltd.
Edward A. Foy, a creditor and holder of $9,000 bonds, has made a
Yr. end. Mch. 31 '12_1,885,074 468,633 767,142 (7%)350,000 301,299 protest
against the sale on the ground that the order was made with10 mos.end.Mch.31'11_2,201,186 419,866 878,503(5 5-6)291,667 811,150 out notice
and that the sale would be of no benefit to the general creditors
The total surplus of the Dominion Coal Co. on Mch. 31 1912, after de- because the mortgage claims represented by the bonds far exceed what will
ducting dividends on common stock (4%), $600,000, was $1,338,947, and be realized by the sale. It is objected further that the sale is to include
of Dominion Iron & Steel Co. after deducting $800,000 (4%) for common the property of the Hamilton Otto Coke Co. with its capital stock and individends was *1,870,674.
cumbrance of $156,000 bonds.-V.94, p. 1510.
The consolidated profit and loss account of the Dominion Steel Corpora(George W.) Helme CO.-First Common Dividend 23/2%.tion, with its controlled companies named above, for the 21 months ending
Mch. 31 1912 shows net earnings, $7,388,261; less regular provisions for
An initial quarterly dividend of 234% has been declared on the $4,000,000
sinking funds, exhaustion of minerals and depreciation, $1,624,806; int. on common stock, also quarterly dividend No. 2, 1 %%, on the $4,000,000
bonds and loans (less proportion chargeable for construction), $1,957,879, 7% non-cum. pref. stock, both payable July 1 to holders of record June 15.
and proportion of discount on bonds sold, $115,426; balance, $3,690,150; -V. 94, p. 824, 829, 701.
preferred dividends, $980,000; com. divs., $1,225,204, and special approHocking Valley Products Co.-Suit to Set Aside Lease.priation for depreciation and renewals, $700,000; surplus, $784,946.V. 94, p. 1319. 1188.
Schuyler, Chadwick & Burnham, James W. Murphy and William F.
Osborne,
as holders of $123,000 of voting trust cetrficates, but representing,
Edison Electric Co., Lancaster.---Underlying Bonds Called. it is stated,
about $1,000,000 of the certificates, on July 5 brought suit in
All of the outstanding $20,700 1st M. 5% bonds of the Edison Electric the Supreme Court in this city to set aside the lease
for ten
of oil lands
Illuminating Co. of Lancaster County, Pa., have been called for payment In the New Straltsville oil field, made on Sept. 1 last to the years
Chartiers 011 Co.
on July 1 at par and Int. at the Cont.-Equitable Title & Trust Co.,
of Pittsburgh (V. 93, p. 874). It is claimed that the lease Is not to the advantage of the holders of the certificates, and was made Illegally.-V.94, p.
General Pipe Line Co., California.-Call on Underwriters 942,
847.
of44,000,000 Bonds.-The first 20% on subscriptions to the
underwriting of the present issue of $4,000,000 6% bonds
has been called by the syndicate managers, Tucker, Anthony
& Co., Boston and Jas. B. Colgate & Co. of N. Y. City,
June 15 at the Knick. Tr, Co., New York.
and is payable'
The remaining installments It is proposed to call as follows: No. 2,
July 10, 15%; No. 3, Aug. 10, 15%; No. 4, Sept. 10, 10%; No. 5, Oct. 10,
10%; No.6, Nov. 11, 15%; No. 7, Dec. 10, 10%; No.8, Jan. 101913, 5%.
• Digest of Financial Plan of Feb. 1 1912, Issued by Syndicate Managers.
To be organized in California to build and operate a 185-mile pipe line,
with pumping stations and storage tanks, from the Lost Hills oil fields
through the Midway oil fields and Los Angeles to the port of San Pedro.
Pipe-linecapacity to be 25,000 bbls. per day; storage 3,000,000 bbls.
General Petroleum Co. (Recently Esperanza Cons. Oil Co.-V.94,p.419,985).
Owns or controls 10,000 acres of land in the Midway, Lost Hills, Santa
Maria and other oil fields of California. Has 43 wells in operation, producing 6,000 bbls. of oil a day, and is now drilling 16 additional wells. Experts state that, if pipe-line facilities are provided, the company can readily
increase its production to at least 15,000 bbls. per day. Estimates of the
value of the properties range from $6,000,000 to $20,000,000.
The General Petroleum Co. Is prepared to contract with the Pipe Line Co.
to deliver to it at least 15,000 bbls. of oil per day, and to guarantee the
bonds and stock of the Pipe Line Co. Directors of Petroleum Co.: E. J.
de Sabla Jr. President; John Barneson and Louts Sloss, V.-Presidents;
J. C. Cebrian% W. H. Talbot and Hon. Charles W. Slack, all of San Francisco, and R. R. Colgate, New York,
General Pipe Line Co.-Gen. Pipe Line Corporation.
General Pipe Line Co.will have stock of $7,500,000,to be Issued forthwith
and taken by General Construction Co. in part payment for the building
and equipping of said pipe line, and which will be exchanged by It for $7,500,000 capital stock of the General Pipe Line Corporation (a Maine corporation) consisting of $2,000,000 Class A and $5,500,000 Class B stock.
Dividends on Class A at rate of 8% per annum for seven years from Jan. 1
1913 (first dividend not later than Jan. 1 1914 and thereafter J. & J.)
will be guaranteed by the General Petroleum Co., and said company will
be given the option to purchase at par ($100 per share) said Class A stock
during said 7 years, but not thereafter, in blocks of $250,000. Class B entitled to dividends only after payment in full of 8% dividends on Class A.
Classes A and B will participate equally individends in excessof 8% per an.
Bonds of General Pipe Line Co.-Authorized Issue, $7,500,000.
First M. sinking fund 6% gold bonds (a) $4,500,000 Series A bonds, date
Jan. 1 1912 and payable Jan. 11925, interest J. & J. In N. Y., San Fr. and
London, par $1,000, to be issued forthwith; (b) remaining $3,000,000 issuable hereafter, but only with the consent of a majority of the firms of Tucker,
Anthony & Co., Jas. B. Colgate & Co. and C. D. Barney & Co., for such purposes as they may determine, or without their consent for payment to the
extent of 80% of the actual cost of future additions or improvements, provided the annual earnings suffice to pay the sinking fund requirements and
twice the interest on all bonds,Including those applied for. Callablefor sinking
fund at 10214; redeemable on any interest day at 105. General Petroleum
Co. will guarantee unconditionally the principal and interest on the bonds
and the payments to a sinking fund which will retire all the outstanding
bonds of Series A by maturity, Jan. 1 1925.
Alternative Option to Issue Collateral Trust Bonds of Gen. Pipe Line Corp.
In case, during construction, it may seem to the syndicate managers
undesirable to distribute the bonds of the Pipe Line Co., said bonds and all
of the capital stock of the Pipe Line Co. shall be lodged in the treasury of
the General Pipe Line Corporation, which company shall thereupon issue
Its collateral trust bonds, total issue $7,500,000, to be secured by pledge
of all the capital stock and bonds of the Pipe Line Co., $4,500,000 of said
bonds to mature Jan. 1 1925 and to be guaranteed, as aforesaid, and $3,000,000 to be reserved and issued only as reserved bonds of the Pipe Line
Co., are pledged to secure the collateral trust bonds.
Estimated Revenue of Genera Pipe Line Company.
It is estimated that the revenue from the transportation of an average
daily delivery of 15,000 bbls. of oil, the minimum provided for In the contract with the General Petroleum Co., In addition to revenue from storage,
will yield a gross revenue of $1,458,750, and that after deducting operating
expenses, interest on bonds and sinking fund requirements, there will be
an available surplus of $305,750, equal to over 15% on Class A stock; with
delivery of 20,000 bbls. per day, to $738,000; and on delivery of 25,000 bbls,
per day to $1,023,000.
Securities Subscribed for by Underwriting Syndicate.
$4,000,000 1st M. 6% bonds of the General Pipe Line Co. (or collateral
trust bonds of General Pipe Line Corporation) and $1,000,000 Class A
capital stock of General Pipe Line Corporation, for $3,600,000, to be offered
in blocks consisting of $1,000 bonds and $250 capital stock for $900 for
each block.-V. 94. P. 985. 829.
Goodyear Tire & Rubber Co., Akron.-Option to Subscribe.
Holders of the outstanding common stook ($5,000,000 or thereabouts)1 are
entitled to subscribe at par ($100 a share) on or before June 10 for the
Home Teleph. & Teleg. Co., Los Angeles.-Bonds, &c.
J. H. Adams & Co., Los Angeles and San Francisco, are offering at 8214
and int., yielding about 614%, "first and refunding mortgage" 40-year
sinking fund gold 55, dated 1905, due July 1 1945, but callable on and after
July 1 1920 at 105 and int. Interest J. & J. at Nat. Bank of Cal. at Los
Angeles or at Nat. City Bank, N. Y. Par $1,000 c.. No further amount
issuable except for refunding 1st M. Tax free in Cal. (V. 83, p. 216).
Cavitalization.
Capital stock auth. and issued ($3,000,000 is preferred)
$6,000,000
1st M., auth., $2,500,000; retired by sink. fd., $269,000; out_
2,231,000
"First & ref. M." auth., $5,000,000; retired by sink. fd. Ito retire
53.59% of the issue], $199,000; held by trustee to retire 1st M.
bonds, $2,500,000; remainder outstanding
2,301,000
Property.-(a) Main exchange plant, a 3-story brick bldg. and 12 subexchanges. Real estate valued at $308,000; buildings at over $350,000;
(b) 50-year franchise granted Feb. 5 1902; (c) equipment-conduit and
pipe, 272,802 ft.; aerial and underground cable, 1,735,485 ft.; open copper
wire strung on pole lines, 52,024,880 ft.
Territory Served.-Los Angeles and the contiguous territory, including
Hollywood, Huntington Park and South Pasadena. During the past 30
years Los Angeles has grown from a population of 11,000 in 1880 to 319,198
by the Census of 1910; present population about 400,000. Approximately
500,000 calls are made daily over the wires of the Home Co.
Earnings-Cal. Years1908.
1909.1011.
Exchange telephones
30,137
194100
,064
45,115
35,359
Gross earnings
$823,606 $924,709 $1,079,261 $1,293,355
Net earns.(after taxes,&c.)_ _ 408,301
556,140
543,579
472,808
241,650
244,021
Interest
201,261
206,293
Bal. applicable to divs.,
$301,929
sinking fund and deprec_$207,040 $266,515
$312,119
Gross earnings 1901, $359,699; 1905, $520,148; 1906, $669,549; 1907,
$791.791. Present gain $500 to $600 per month.
Officers and Directors.-A. B. Cass, Pres.; W. C. Patterson, V.-Pres.;
E. P. Morphy, Sec.; Marco H. Hellman, Treas.• F. W. Rea, Asst. Treas.;
'
John Grosse, Chas. C. CarP. L. Auten, W. H. Holliday, Julius A. Brown,
penter, L. Keller, Engineer; C. G. Lieberg, Cashier.--V. 94, p. 564.
International Agricultural Corp.-Meeting Postponed.
The special stockholders' meeting to authorize an Issue of $30,000,000
1st M. and 'collateral trust 5% 20-year sinking fund bonds was postponed
from June 7 to June 11, the lawyers not having completed the preparation of the mortgage. See V. 94, p. 1510, 1452.
Inter-Ocean Steamship Co. Duluth, Minn.-Bonds Called.
' the steamship James E. Davidson,
All of the outstanding bonds covering
dated April 1 1905 (Nos. 113 to 160) have been called for payment on
July 1 at Union Trust Co., Detroit, trustee, at par and int. and a bonus of
1% for each year that said bonds have to run from that date until maturity
thereof, not exceeding 2%.-V.85, p. 407.
Jacksonville (Fla.) Gas Co.-Bonds Offered.-H. T. Holtz
& Co., Chicago, are offering at 95 and int., by advertisement
on another page, the unsold portion of $1,300,000 first mortgage sinking fund 5% gold bonds dated June 1 1912, due
June 1 1942, redeemable on any int. date at 105 and int.
Int. J. & D. Par, $1,000 (c*). Prin. and int. payable at
First Nat. Bank, N. Y. City, or Central Trust Co. of Illinois,
Chicago, trustee. Total auth., $6,000,000; outstanding
(this issue), $1,300,000.
'1
The $1,200,000 1st 5s, due 1937 (called for payment Sept. 1 1912 at 105
and mt.)H. T. Holtz & Co. will immediately receive at the call price, 105
and full int. up to Sept. 1 1912, less discount for the unexpired term at the
rate of 3% per annum, in exchange for the new bonds described at 95 & int.
Digest of Letter from Pres. Knowlton L. Ames, Chicago, May 20 1912.
Organization.-Incorporated July 14 1874. Does all of the gas business
in the City of Jacksonville, Fla., and suburbs. The population of city,
1910 Census, $57,699; population served, estimated, over $75,000.
Bonded Debt June 1 1912.
First mtge. sink. fund 5s (this issue), auth., $6,000,000; Issued.. _$1,300,000
6% 10-year debentures auth., $1,200,000 (seo V.91, p. 1633); issued 575,000
New 1st M.Bonds.-Refunding.-A first mtge. upon all property, rights
and franchises now or hereafter owned. In order to meet the growing requirements, an issue of $1,200,000 of 6% 10-year debenture bonds has been
authorized, $575,000 of which have already been issued, coming after the
1st M. bonds (this issue), and adding materially to the security. At a low
marketvalue,there is an equity of exceeding $1,500,000beyond these bonds.
On account of the growth of the territory which the company serves, the
bond issue authorized in 1907 has been found to be wholly inadequate.
By the immediate calling in of the outstanding bonds and authorizing this
larger issue, a great saving Is effected In the cost of financing; $1,200,000 of
JUNE 8 1912.]
1569
THE CHRONICLE
g 5% bonds
the new issue will be used to retire the $1,200,000 outstandin
under the old mortgage.
and $100,000 to cover $100,000 bonds now issuable
by the trustee as additional seSinking Fund.-To be received and held outstandin
g bonds of this issue
curity for the bonds, unless used to retire
1922-27, $10,000
at not exceeding 105 and Int.: 1917-22, $5,000 annually;
annually; 1937-42,
annually; 1927-32, $30,000 annually; 1932-37, $35,000
$600,000.
$40,000 annually; total,
be used after Jan. 1
Application of Escrow Bonds.-(a) $600,000atmay
not more than $100,000 a.
1914 to retire a like amount of 6% debentures 80%
the cost of improveof
for
issued
be
can
Year and (b) the remainder
annual net earnings for the
ments and additions, provided in both cases the
charge, including
interest
the
double
been
have
shall
preceding 12 months
bonds which it is proposed to issue.
(b) 83i acres of land adjoining two
Property.-(a) Perpetual franchise. thereon,
capacity considerably In
prominent railroads.• (c) New plant
excess of immediate requirements.
ckc., in Use Dec. 31.
Meters,
Company.
of
Growth
Annual Operations, Showing
1911.
1910.
1909.
1908.
1907.
1906.
165,444 183,056
127,727
09,676
70,989
Gas sold,M cu.ft. 50,589
7,764
7,023
5,699
4,370
3,315
2,492
Meters
6,996
6,086
4,863
3,708
2,896
2,000
Ranges
2,054
1,849
1,702
1,440
1,006
500
Arc lamps
77.1
70
64.5
54.2
45.8
37
mains
of
Miles
$225,755
$204,256
$168,831
$76,736 $102,897 $138,734
Gross earnings
88,026 104,877 106,576
73,883
54,009
Oper. expenses_ 42,720
$99,379 $119,179
Net earnings_ $34,016 $48,888 $64,851 $30,805
Earnings Year ending April 30 1912.
$254,937 lest, on $1,300,000 let 5s__ _ _$65,000
Gross earnings
$72,037
$137,0371 Surplus
Net, after taxes
Estimated net earnings for cal. year 1912, over $145,000. Is outstanding.
$250,000
of
which
,
$1,500,000
Pref. stock authorized,
The company
Common stock authorized and outstanding, $1,500,000. common
stock
the
Is paying 7% on the pref. stock, but no dividend policy onthe
property.
into
going
the
earnings
has yet been established, most of
ing
Business Field.-Jacksonville is the general distributing, manufactur
to the
commercial and financial centre of thh State. Its 24-foot channel accomthus
feet,
sea is soon to be deepened by the U. S. Government to 30
modating the largest ocean-going vessels, as well as the present large coastmore
wise and foreign trade. Florida has of late increased in population
Population in
rapidly than any other State east of the Mississippi River.42%.
Jacksonincrease,
751,139;
In
1910,
528,542;
Census),
S.
1900 (U.
in 1910.
ville has increased from 8.650 in 1880 to 20,429 in 1900 and 57,699
75,000.
Present estimated population of city and Its suburbs, over
Clearings.
Bank
City Growth Shown by Buildings Erected, P. 0. Receipts and1909.
1911.
1907.
1905.
1903.
1901.
1,346
1,057
1,016
1,014
837
1,447
New buildings__
$362,029 $454,680
P.O.recelpts___ $95,594 $118,687 $158,053 $223,014
1461740
92,232
76,046
60,000
26,112
Clearings (000).. 16,757
of about $25,000,000 and 60
There are 11 banks with total resources of
over $25,000,000. Our rewholesale houses, doing an annual business
respect. The company
every
in
pleasant
are
lations with the community
continue to reduce tile same
will
and
has three times reduced the price of gas,
564.
1387,
p.
94,
-V.
warrants.
business
as
as fast
nt
a power plant of its own on the land of the Newark Meadows Improveme
Co.-V. 94, p. 1512, 1452.
P. Lorillard Co.-First Common Dividend, 2
the $13,155,An initial quarterly dividend of 2 M% has been declared on 1
2) of 34% on the
600 common stock along with quarterly dividend (No.
of record
holders
to
1
July
payable
both
$11,307,600 7% cum. pref. stock,
June 15.-V. 94, p. 770, 765.
Forbes Co.-Earnings.-Cal. year 1911:
McAndrews &
$1,381,982 Preferred dividend (6%)_ _ .$225,498
Gross profits
99,443 Common dividend (27%) __ 810,000
Undistributed expenses _ _
$247,041
Surplus
4
$1,282,53
Net profits
Co. common
Total surplus Dec. 311911, after distribution of J. S. Young
stock ($1,000,000) was $202,889.-V. 85, p. 287.
Massillon (0.) Iron & Steel Co.-Notes.-The Tillotson &
Wolcott Co., Cleveland, sold at par and int. early in May 1912
the bulk of an issue of $250,000 2-year 6% collateral trust
coupon notes, par $1,000, dated May 11912, due May 11914.
(M. & N.)
Secured by $300,000 1st M. 6% gold bonds. Prin. and int. Redeemapayable at Guardian Savings & Trust Co., trustee, Cleveland.interest.
and
at
period
10034
interest
at
any
ble at option of company
common,
Capitalization.--Stock issued and outstanding, pref., $490,000;
$900,000; first (closed) mtge. bonds (deposited to secure this note issue),
$300,000.
1900); a
Data from official sources: An Ohio corporation (lncorp. Mch.
(Capacity
leading concern In the cast iron pipe and general foundry trades.
appraised
Plant
-Ed.)
day.
stated as 160 tons of finished castings per
which, with
In Jan. 1911 at $731,000; subsequent additions about $41,000,From Jan. 1
other assets, make a total of $1,504,885 as of Jan. 1 1912.
of $78,544
average
an
1900 to Jan. 1 1912 operating profits were $942,539,
current accounts.
per year. This issue constitutes the only debt aside from
by
$229,666.
liabilities
current
Current assets exceed
was decreased from $2,000,000
(In March last the auth. common stock
of an issue of $500,000 pref. stock
to $900,000. Subsequently, $490,000
1912 the common stock was
May
In
notes.
was sold, also the aforesaid
Officers are now: Pres. and
reported as further decreased to $765,000.Gen.
Man., W. C. Bruce.-Ed.)
Dangler;
It.
J.
Sec.,
Treas.. C. M. Russell;
-V. 91, p. 399.
Jamison Coal & Coke Co.-Bonds Called.-
All of the outstanding $1,844,000 gen. M. 10-year gold 5 ji% serial bonds,
for
dated May 1 1909 and maturing up to July 1 1919, have been called
payment on July 1 at 102 Yi and int. at Union Trust Co., Pittsburgh, trustee;
1
June
dated
gold
bonds,
5%
mtge.
oney
also 500 "Alexandria" purchase-m
1905, for payment on June 1 at 105 and int. at the office of the same trustee.
-V. 94, p. 1059.
of Plants.Keystone Watch Case Co.-Consolidation
t suit on June 3 that
It was brought out at the hearing on the Governmen to consolidate the
at the meeting of the directors last fall it was decided with
the plant at
Philadelphia plant, employing about 1,800 persons,
Newark, N. J.-V. 93, p. 1728.
Belle Iron Works, Wheeling, W. Va.-Stock.-
La
$10,000,000 to
Touching the proposed increase in the capital stock from
H. D. Westfall is
$20,000,000, divided into half pref. and half corn.. Sec.for
the increase is
Quoted as saying in substance: "The principal reason
the actual
that the share capital may be brought Into closer harmony with
estiengineers'
upon
based
holdings,
ore
valuation of the property. Our
mates, are 6.000,000 to 8,000,000 tons in the Miller property and 10,000,000
acreuntested
including
not
property,
Wacootah
in
the
tons
to 12,000,000
age. The coal property consists of 355 acres of coking coal lands In Fayette
Va.,
County, Pa., 200 acres of coking coal lands in Randolph County, %V.
W. Va.,
5,986 acres of seam and furnace coal In Ohio and Brooke counties,
in the baland Jefferson County. Ohio, or a total of 6.541 acres, all carried
mineral properance sheet at net cost to the company. The value of these
sheet by an
ties exceeds the figures at which they are carried in the balance
increase. Our
amount equal to or greater than the proposed capital stock
all fixed
deducting
after
30
1911,
June
ending
years
earnings for the five
ns of $250,000
charges, including bond interest and also special depreciatio
387, 1253.
per year, aggregated $7,658,313, averaging $1,531,663.-V.94,p.1
(The) May Department Stores Co., N. Y. City.-Purchase
of Boggs & Buhl, Pittsburgh-$.3,250,000 New Preferred Stock,
Offered.-The company has entered into a contract to purchase all the capital stock of Boggs & Buhl, conducting a
general department store and dry goods business in Greater
Pittsburgh Pa., subject to verification of profits.
To provide part of the purchase price,all shareholders of
record July 9, or such other date as may be fixed, will be
permitted to subscribe pro rata for $3,250,000 new 7% cum.
pref. stock at par ($100 a share) and acc'd div. by means of
warrants which will be issued as soon as practicable after
July 9. The shareholders will vote June 27 on increasing the
pref. stock from $5,000,000 to $8,250,000, the common to
remain as now, $15,000,000.
3 1912.
Extracts from Official Circular Dated June
reputation; it was
Boggs 60 Buhl is a concern of the highest standing andbusiness
under conestablished 43 years ago and is doing a very profitable
ions of the vendors of
servative management. Based upon the representat
increase
should
acquisition
Its
the actual net earnings for the past five years,
at least $450,000
the net earnings of The May Department Stores Co. by
from
accrue
should
which
increase
natural
the
to
per annum in addition
and Mr. Buhl agree
combining operations with your company. Mr. Boggs
the entire organito remain with the company In an advisory capacity and
assets, over 90% are
zation will continue as heretofore. Of the tangible
and less than 10%
quick assets (merchandise, accounts receivable and cash)
account.
plant
and
are fixtures
out of its surcash
in
price
purchase
the
of
Your company will pay part
it is proposed to increase
plus, and, for the purpose of financing the balance,
been made
have
ts
Arrangemen
.
$8,250,000
to
pref. stock from $5,000,000
of N. Y., and Kleinwort
with Goldman, Sachs & Co. and Lehman Bros.,
agreed to
have
bankers
the
which
to
pursuant
London,
of
Co..
Sons &
stock at par plus
underwrite the sale of the additional $3,250,000 of pref.
on from this
accrued div., for which service they are to receive compensati
to place it upon
company. Properly to safeguard the new pref. stock and
necessary to
the same basis of the pref. stock now outstanding, it will be the special
amend the certificate of incorporation as stated in the notice for
909.
1320,
meeting.-V. 94, p.
Metal Shingle & Siding Co., Ltd., Preston, Ont.-Incorp
3-Year Notes Called.Lake Superior Corporation.-6%
at par and int. on Sept. 9 next the
d on May 17
This ally of the U. S. Metal Products Co. was Incorporatecapital
stock
auth.
under the Canadian Companies' Act with $1,500,000and
com$1,000,000
pref.
cum.
7%
$500,000
of
in $100 shares, consisting
$500,000 common. Present issues, it is said, to be $200,000 pref. and
mon. See V. 94, p. 915.
Lehigh Coal as Navigation Co.-S. D. Warriner, Pres.
Niagara
authority to issue
Company has applied to the P. S. Commission for
of $1,021,000 autho$3,567,000 bonds (Including the remaining $335,000
or,at the opissued),
yet
not
but
181910,
Feb.
on
Commission
rized by the
of bonds. The protion of the company,to issue $3,567,000 stock instead
the Canadian-Niagara
ceeds are to be used for proposed construction bycapitalize
expenditures
Power Co., construction now under way, and to
hearing was to
out of earnings between Jan. 1 1909 and April 1 1912. A
take place yesterday.
The company has called for payment
notes, dated April 11911, the
entire issue of $5,000,000 of its 6% 3-year gold
payment being provided for by recent sale of Algoma Steel Corp. "first and
Payment will be made
1253,
1387).
p.
94,
(V.
bonds
refunding" mtg.
at the Standard Trust Co. ,N. Y., or at the office of Robert Fleming & Co.,
8 Crosby Sq., London, B.C., Eng., on and after the date named.-V. 94,
p. 1387, 1253.
S. D. Warriner, V.-P. and Gen. Man, of the Lehigh Valley Coal Co., has
been elected President, to take the office on July 1.and also a memberof the
board of managers, to succeed the late W. A. Lathrop. Lewis D. Riley
was elected President pro tem. on Apr. 18.
Falls Power Co.-Application to Issue Add'l Bonds.
New Directors.-Nicholas Biddle has been elected a director
Electric Enterprise.-The company has let contracts for to succeed Col. Astor, deceased.-V. 94, p. 1123, 204.
its
use
will
which
plant
three 10,000 k.w. units for the power
Sold.
New York Telephone Co.-Final $5,000,000 Bonds
mine waste to generate electricity for commercial distribucompany to
'I he Public Service Commission on May 28 authorized the
less than
1122
not
at
p.
1052,
sold
94,
be
to
V.
bonds,
See
%
)4
4
tion within a radius of 50 to 75 miles.
Issue $5,000,000 "first and general"
who, It
&
95. The bonds have been purchased by Kidder, Peabody
$75,000,000
last of the Co..
Lexington (Ky.) Hydraulic as Mfg. Co.-Bonds Offered.- is understood, have resold the same. This is the
proceeds
The
week.)
issue. (See bond offering, page 1510 last
E. H. Rollins & Sons of Chicago are offering at par and int. authorized
ts, including the
are to be used entirely within N. Y. State for improvemen
office building In Buffalo and
$381,700 1st M. 5% gold bonds, par $100 di $500. Due in completion of the Seneca and Tupper Central
Y. City.-V.94, p. 1510,1054.
1936, also in part payable serially. The company furnishes tile West 37th St. central office building in N.
R.
Rudolph
Stoll,
G.
Pres.;
John
rs Appointed.
water.
-Receive
the city with
North American Copper Co.
Trenton, N. J., on June 5
Judge Rellstab In the U. S. Dist. Court ,atVa.,
Harting, Sec. See V. 94, p. 70; V. 93, p. 1537.
and Charles Hansel of
Petersburg
appointed Charles H. Davis of
London (Ont.) Electric Co.-Sale.--A syndicate headed Cranford as receivers for this company.-V. 80, p. 476.
ers' Co.
by Sir William Mackenzie has contracted to purchase 75% or
Northern States Power Co. of Chicago.-Consum
articles of inThe Consumers' Power Co. has flied amendments to its to
more of the $406,200 stock at $50 per share (par $100).
$17,500,000
Toronto.
The certificates must be deposited with the National Trust
Co.'will make
The purchasers have paid to said Trust Co. $10 per share and
1913.
May
in
the
finel
payment
and
November
of
next
$20
payment
a further
J.
There are outstanding $100,000 gold 5s of 1905, due Jan. 1915, int. J. &
of a
at Can. Bank of Corn., Toronto. The purchase is thought to be part
plan.
on
consolidati
Long Acre Electric Light & Power Co., N. Y.-Plans.--Harvey Fisk & Sons and A. B. Leach &{Co., it is thought,
will probably be associated in the financing and possibly the
acquisition of the control of this enterprise, provided a
favorable decision is obtaineil from the Court respecting
the right to issue the new securities, said right being contested by the N. Y. Edison Co.
The plan, it is reported, contemplates the tnaking of a contract with the
Hudson ec Manhattan RR. by which the Long Acre or its successor will
purchase the surplus electric power of the RR. Co. and will also establish
0
corporation increasing its capital stock from $10,000,00
s. The comand removing its headquarters from Stillwater to Minneapoli
n line
pany also announced plans for building 5 miles of overhead transmissio
stations of
the
statlon,
Co.'s
Electric
General
s
Minneapoli
the
to connect
The
plant.
originating
Fails
the Consumers' Power Co. and the Taylors
operation of all
purpose of the new transmission line is that the physical of
may
750,000
territory
a
in
companies
by
two
the
distribution
the light
saving
be handled on an interchangeable basis, making possible a material equipIn operation and the operation without the full use of steam plant
1511.
p.
91,
s.-V.
ment in MInneapoll
Northwestern Gas Light & Coke Co.-Details of Sale.
Insull inter't he recent sale of the stock ($5,000,000 outstanding) by the be
deducted
to
ests was, it is stated, made et $200 per share, from which Is the
sale. This
the compensation to be made to the trustees for effecting
been
have
not
may
as
amount
minor
such
to
all
except
price would apply
capital stock
secured from individual holders. The largest amount of theIt was agreed
was secured from Peoples Gas Light & Coke Co. Interests.
the second one
that payment should be made in two equal Installments,money has b ee
within the last ten days. Chicago papers say that the
1570
THE CHRONICLE
raised in the form of temporary loans and that the stock
will
go into the treasury of the Public Service Co. of Northern purchased
Illinois, which
must furnish at least the greater pert of the purchase price.--V.04
,p. 1190.
Northwestern Iron Co., Milwaukee.—Increase of Stock.—
The company has increased its capital stock from $2,000,000 to $2,500,000, and Is planning to add 70 coke ovens to its plant at Mayville,
Wis., 30
in 1912 and 40 early in 1913.—V. 89, p. 1220.
Old Dominion Co. of Maine.—Dividend Increased.—
[VaL. Lxxxxxv.
Pounds.
1912.
1911.
1 Pounds.
1912.
January
10,892,391 9,789,639 April _
11,312,759 9,793,817
February _10,230,280 9,857,962 May
11,134,545 9,832,300
Maech
10,928,169 10,197,5161
Total (pounds) for five months
54,498,144 40,471,234
Custom ores business added a further amount for the five
months of
3,478,145 lbs. In 1912, against 6,180,200 lbs. In 1911.—V. 94,
p. 1255, 1054.
Pittsburgh Coal Co.—Runzor as to Accumulated Dividends.
A quarterly dividend of $1 (4%) has been declared, payable July 2
to
holders of record June 13, comparing with 75 cents (3%) in April
last and
50 cents and 50 cents extra in Jan. last, and with 50 cents (without
any
extra) a year ago. The payments in 1911 aggregated $2 25 per share.
See
also Old Dominion Mining & Smelting Co. below.—V. 94, p. 702,
419.
Rumors are afloat of a plan to disAarge the accumulated (Ulm.,
about
37%, on the $27,071,800 pref. stock, but so far AS can be learned
the matter
has not been conSidered by the board. One suggestion is that each
share
with accumulations be exchanged for $137 in 5% bonds.—V. 94,
p. 1052.
Old Dominion Copper Mining & Smelting Co. of N. J.—
Quar. Dividend, Previously 4%, Now 5%, or 20% P. A.—
Ten 1st M.and coll, trust bonds, dated July 11899,for payment
July 1
at par and Int. at Guaranty Trust Co., N. Y., trustee.—V. 91, p.on
1577.
A quarterly dividend of 51 23 per $25 share, of this operating company
has been declared on the $4,050,000 stock, payable July
1 to holders of
record June 13 (chiefly Old Dominion Co. of Me.), comparing
with $1 quarterly from July 1911 to Apr. 1912, both inclusive, and 50 cents
1910 to Apr. 1911. In July 1907 $1 25 was paid, the first from July
distribution
since 1895, and in Sept. and Dee. 1903 $1. Payments
in 1909, 1910 and
1911 aggregated 3% per annum. Compare V. 92, p. 1569.
Oro Electric Corporation.—Guaranteed Bonds Offered.—
Goodwin, Garby & Holton, Inc., San Francisco, are placing
at 98 and int. $3,500,000 1st M.6% sinking fund gold bonds
dated Oct. 11911, due Oct. 1 1951, but callable on any interest date at 105 and int. Par $1,000 (c*). Interest A. & 0.
in San Fr. and N. Y. First Federal Trust Co. of San Fr.,
trustee. The bankers in a preliminary circular say:
Pittsburgh (Land) Company—First Mtge. Bonds Called.—
Portsmouth Coal Mining Co.—Reorganized Company.—
See Rhode Island Coal Co. below.
Racine-Truscott-Sliell Lake Boat Co., Shell Lake, Wis.—
This company was incorporated in Wisconsin on April 25 with $1,000,000
stock, per plan in V. 04, p. 921.
Rhode Island Coal Co.—Over 85% Subscribe.—
The protective committee announced on June 5 that over
85% of the
stockholders had subscribed at $1 per share for the same
of stock
in the new company,and had paid the first installment amount
of 25e. The time
for malting this payment has been extended to June 10,
and
"under
an
agreement all stock on which the assessment remains unpaid
will be taken by responsible underwriters. This arrangementat that time
assures the
complete success of the plan." The committee has
dissolved. The new
"Portsmouth Coal Mining Co." was incorporated in Maine
5 with
$800,000 stock. The directors will be Robert M. Burnett,June
William II.
Joyce, Henry NI. Whitney, Charles F. Davis, Barlett H.
Hayes, Joseph
Weeks and William J. Carlin.—V. 94, p. 1387, 1255.
Through ownership of stock, controls all the property and
companies of the Oro Water, Light & Power Co. (org. Feb. 24 subsidiary
1905; see V. 90,
p. 1365; V. 81, p. 1553) in and adj"....ent to the town of Oroville,
Sears, Roebuck & Co.—Sales by Months.—
Butte Co.,
Cal. Also has valuable rights in dredging properties which produce
a large
Mos.—' January. February. March.
income, and valuable water rights in Plumes, Tehama and Butte counties.
April.
May.
Total,
Operates two hydro-electric plants, capacity of 4,000 h. p., and about
50 1912
5,859,256 7.025,376 7,333,665 7,753,122 6,381,551 34,352,970
miles of distributing system. In view of the rapid development
of
the
ter1911
4,624,764 5,483,743 6,294,971 5,837,207 5,418,118 27,658,803
ritory served, will Increase the capacity of the plants by the unit
system, —V.94, p. 1080, 347.
the eventual development to be about 40,000 h.p., the first unit 26,000h.
p.
These bonds are or have: (1) An absolute first mortgage on all the
The
Securities
Corporation General, Philadelphia and New
property of the Oro El. Corp., Oro Water, Lt. & P. Co. and subsidiaries,
sub- York.—Offering.—A. Studley Hart & Co.,
ject only to the $325,000 bonds of the Oro Water, Lt. & Power
Providence, are
Co.
part
of
which [some 525,0001 matures in 1912, and the balance can be called
sub- offering a block of this new company's stock. An advt. says:
sequent to 1914 (V. 81, p. 1553). (2) Absolute guaranty
principal and
Organized early in 1912 in Virginia, as a holding company (see V.
Interest by the Oro Water, Light & Power Co. (3) A legalofInvestment
94, p.
for 1511), and has made substantial investments in the companies
savings banks in California. (4) At present market value of the company's
[wholly or
stock, an equity of approximately $3,000,000. (5) Combined earnings chiefly public utility corporations—Ed.] operating in Wilmington, Del.;
Port
Wayne,
Lafayette,
Logansport,
Huntington,
Peru, Bluffton, See., Intl.;
sufficient to pay all interest, Including bonds for developing the first unit. Lexington,
Frankfort, Versailles, Paris, Georgetown, Nicholasville
. &c.,
1y.;Trenton, N. J.•, Pomeroy, Middleport, Syracuse, Racine,
Information Furnished by the Oro Electric Corp. and Its Engineers. •
0.; WilkesBarre,
Readlog,
Shamokin,
Pa.;
Norfolk, Portsmouth, Richmond, PetersFTIncorp. (In Cal.) Mch. 13 1911. Capitalization (auth. and issued, stock
burg.
&c., Va. The corporation will have shortly paid into its treesury
in $100 shares): Pref., 6% stock, $3,500,000; common stock, $6,500,000;
over
bonds, 1st M. Oro El. Corp. 6% sink, fund gold bonds, $10,000,000. Of 52,000,000 in cash, which also will be invested. The pref, stock will
share pro rats with common stock on all dividends over 6%
these bonds, 56,050,000 are owned by the Oro Development Co.; the baland
up
to
8%.
ance, 53,950,009% by the Oro Water, Light &Power,Co., which guarantees We offer for $1,000 ten shares (par $100) of the pref. stock and two shares of
common stock. The common
the principal and interest on these bonds. We propose to sell at
may be re-tendered and will be purthis time chased If re-tendered at $40 perstock
$3,500,000 1st H. 6% bonds of the Oro Electric Corp., $500,000
share. See also V. 04, p. 1511.
obtained
from the Oro Water, Light & Power Co. and $3,000,000 from
Southern
the
California
Oro
DevelEdison
Co.—Under
lying Bonds Called.
opment Co. We have required the owners of the balance of
Thirteen ($13,000) 1st & ref.
deposit same with the trustee under a strong escrow provisionthe bonds to
5% gold bonds (Nos. 537 to 549), dated
below). Sept. 11902, of the Edison Elec.M.
Co. of Los Angeles for payment at 110 and
Annual cash sinking fund on a sliding scale begins in 1921 and(see
is intended int. on Sept. 1 at U. S. Mtg. & Tr. Co., N. Y., trustee,
to retire 60% of the bonds by maturity.
by the sinking fund;
Operates two hydro-electric plants in the Sierras and furnishes electricity also 121'(5121,000) under article 19 of the mortgage (Nos. 537 to 545 and
550 to 661, all inclusive).—V. 91, p. 357.
for light and power in Oroville and the adjacent country, besides
owning
all of the electric, gas and water business in Oroville and vicinity. Has
Southern Iron & Steel Co.—No Merger Likely.—
valuable rights in dredging properties in the counties of Butte and Calaveras,
See Alabama Consol. Coal & Iron Co. above.—V. 04, p. 1053,
which are producing a large income. Owns valuable water rights in Humbug Valley, Butt Creek. Deer Creek, Mill Creek, Grizzly Creek,
Southern Wisconsin Power Co., Kilbourn, Wis.—Bonds
Creek and Soda Creek, in Plumes, Tehama and Butte counties. Yellow
In the Offered.—Devitt, Tremble & Co.,
opinion of counsel, the franchise rights are unlimited, in accordance
Chicago and Philadelphia,
with
Article II. of California Constitution.
and McCoy Sc. Co., Chicago, are offering, by advertisement
About 40 miles above the present plants, where the Yellow Creek empties on another
page,
at
a
price
to yield over 5.40%, $500,000
Into the north fork of the Feather River, the water has a drop of 1,905 feet.
1st M. 5s of 1908, due Oct. 11938, but redeemable on any
Just above this point will be located, In Humbug Valley, a storage reservoir
of three billion cu. ft. capacity. The ultimate development at this point semi-annual
int,
date
at
105
and int. Int. A. & 0. at Cont.
will be about 53,000 h. p. but at present there will be installed only about
26,000 h. p. The storage
'area is 5,000 ft. above sea level, and has a large & Com. Tr. & S. Bk., Chicago. Total authorized issue
annual precipitation. The reservoir will carry the maximum development
$2,500,000
,
outstandin
g
$2,025,000. The company, it is
over three of the driest years on record in California. Power will be transstated, has contracts for the sale of practically its entire
mitted on a steel tower line (It is understood via Sacramento) to
as an ultimate destination. The power generated from the first Oakland
installa- output of electric power, the 25-year contract with the Miltion, however, will be distributed in the intervening territory.
waukee Electric Railway & Light Co. alone assuring more
Earnings for Cal. Yr.1911 and Estimate upon Completion of First Installatton.
than sufficient revenue to meet operating expenses, deprecia1911.
Estimate.
1911.
Estimate.
Gross earnings_$776,041 $1,056,041 Interest chges__ $38,374 $228,000 tion, bond interest and all other charges.
Net after taxes_$360,694
$565,694 Balance, surp__$322,320 5337,694
earningsStatement of Earnings for Year ended April 30 1912.
The combined earnings for 1911 and for the five years preceding
Gross
been sufficient to pay the Interest on all the bonds now outstandinghave
$195,248 Interest on bonds out
$100,208
and Net (after
those to be used in developing the first unit, and upon completion of the
taxes, &c.)
156,3871Balance, surplus
56,179'
first installation should approximate 25i times said interest charges.
Normal capacity of plant 6,000 k.w., which, subject to a continuous
(Directors: F. V. Pering, F. S. McAllister, W. B. Phelps, W. S. Wisley, overload of 25%, Is equivalent
Sinking
h.p.
10,000
fund,
to
beginning
in
A. Harvey, E. Buckholz, W. G. Jack. Mr. Jack Is Sec. and J. W. Good- 1914, should with accumulation retire $675,000 of the
s
bonds by 1938.
man Pres. of the Oro Water, Lt. & Power Co. The same interests were re- See further data in V. 90,
p. 379.
ported to have purchased a large interest in the Butte & Tehama Power Co.
The company has been in continuous successful operation since Aug.
2
and the Sierra Irrigation Co.)
1909 during which period the highest efficiency has been demonstrate
d,
[The escrow agreement states that the Oro Development Co. Is under notwithstanding the fact that
periods of drought and flood
long-continued
contract to construct the aforesaid hydro-electric plant, and that the Oro have been experienced.—V. 90,
p. 508, 451.
Water, Light & Power Co. Is interested in the Oro El. Corporation as stockSpanish-American Iron Co.—First Mtge. Bonds Called.—
holder, bondholder and otherwise, and has made a $10,000,000 mortgage
further to secure the aforesaid bonds and has also guaranteed the bonds.
One hundred and sixty-live ($165,000) 1st M. 20-year sinking fund 6%.
For this reason said companies have agteed to deposit the remaining
gold bonds, dated July 1 1907, for payment on July 1 at
500,000 bonds with the First Federal Trust Co. as trustee, the same to$6,- Girard Trust Co., Philadelphia, trustee.—V. 93, P. 1607.par and int. at the
be
Issued only as follows:
Sperry Flour Co., San Francisco.—Mortgage Filed.—
(I) Bonds owned by the Development Co. (a) $325,000 only
take
up a like amount of bonds of the Oro Water, Lt. ec P. Co., datedtoMay
A mortgage was recently filed to the Auglo-California Trust Co. of San
1905; (b) the remaining $3,050,000 to be returned to the Development 1 Fran. as trustee, dated Nov. 11011, to scoure $500,000
6% 25-year bonds,
Co.
from time to time only to the extent of 90% of cost of further
besides the properties in Stockton, real estate in Fresno, Marysadditions to covering,
the property of the Oro El. Corp. after completion of the 26,000
ville, Hollister. San Jose, Salinas, Si Paso de Robles, Los Angeles
and:
and of transmission lines into Yolo and San Joaquin counties. h.p. plant Vallejo.—V. 93, p. 1327.
(2) And thereafter, provided the hydro-electric installation shall have
Corporati
Studebake
on.—Engraved Notes.
been increased to 40,000 h.p. and a transmission line has been
r
built into
Contra Costa or Alameda County, subject to no lien prior to this mortgage,
The Columbia-lthickerbocker Trust Co. announces that the 10-year serial
permanent notes are ready for delivery in exchange for temporary
and provided also that the net earnings of the Corporation
shall be 1% 5%
eertificates.—V. 94, p. 987, 980.
times all bonded debt not held by the trustee, there may be returned
Oro Water, Lt. & P. Co. (a) $1,650,000 bonds, but only to the to the
extent
Union Stock Yard Co. of Baltimore.—Bonds Called.—
of 90% of the cost of further additions and improvements; (b) $1,475,000
Eighteen 1st M.5% gold bonds, secured by mortgage to the Safe Deposit
bonds to the extent that further additions are made to the property
under & Trust Co. of Baltimore, as trustee, dated Dec.
the mortgage, provided that the bonded debt shall not exceed $150
15 1898, for payment at
installed horse power. The rights of the bonds in escrow are to be per par and int. on July 1 at Western Nat. Bank of Baltimore.—V.91, p. 1578.
subordinate to the rights of the bonds outstanding.1—V. 94, p. 1320.
United Shoe Machinery Corp.—Canadian Investigation.—
The sessions of the commission appointed to investigate the methods of
Pasadena (Cal.) Land& Water Co.—City May Purchase.—
the United Shoe Machinery Co. of Canada were ended late last month, but
See "Pasadena" in "State and City" department.—V. 90, p. 377.
it is not expected that its findings will be delivered for some time yet.
—V. 94, p. 1445, 1060,
Pettibone, Mulliken Co. (of New York),
Chicago.—Stock
all Sold.—William Salomon & Co., N. Y., announce that
the 7% cumulative 1st pref. stock (referred to last week)
has all been sold.—V. 94, p. 1511.
- Phelps, Dodge & Co.—Copper Production.—The production of copper by the Copper Queen, Detroit and Moctezuma mines, owned by Phelps, Dodge & Co., for the five
months ending May 31 1912, was 54,498,144 lbs., as compared with 49,471,234 lbs. in 1911, as follows:
United States Rubber Co.—Change in Capital Stock.—Notice is given by advertisement on another page that the shareholders will vote June 17 (1) on increasing the capital stock
to $120,000,000, to consist of $70,000,000. 1st pref. stock,:
$10,000,000 2d pref. and $40,000,000 common; (2) on sanctioning the retirement from time to time of such of the $10,000,000 2d pref. as the holders thereof shall consent to surrender in exchange for 1st pref. stock, at rate of four shares of
2d pref.for three shares of 1st pref. See V.94,p. 1453,1512.
JUNE 8 I 912.
1571
THE CHRONICLE
.Western States Portland Cement Co.-Decision
the suit brought by the
A jury in the District Court of Sumner County, in company
guilty on one
Attorney-General of Kansas, on May 31 found tileof
violation of tile State
count (there were three counts in the Information)
the company had made a contract
anti-trust law. It was charged thatwhereby
It agreed that it would not
with a lumber dealer at Wellington
except him, and the latter agreed that
sell cement to any person in that city
except the company, It being
he would not buy cement from any source
that there would be a forfeiture of
further provided In case of violation
thereby. This is said to be
Injured
party
5 cents per barrel In favor of thestatute, the penalty
for each violation being
the first suit brought under thep. 163.
83,
$1,000.-V.
from $100 to
2 IA%.
Weyman-Bruton Co.-First Common Dividend,
of 234% has been declared on the $4,000,000
An initial quarterly dividend
1 % on the
of
dividend
quarterly
usual
the
with
common stock, along
pref. stock, both payable July 1 to holders of
$4,000,000 7% non-cum.are
825.
p.831,
94,
malled.-V.
Checks
15.
June
record
•
(William A.) Wilson Co., Improved Real Estate, Houston,
Tex.-Bonds Offered.-Peabody, Houghteling & Co., Chicago,
are making a preliminary offering, mostly at par and int.,
serial gold bonds.
of $100,000 collateral trust 6%
but
due $5,000 s.-a. Dec. 1 1912 to June 1 1922,
Dated June 1 1912, Juno
and Int. Par $500. P. & I.
10234
1913
at
1
after
or
on
redeemable
said bankers, Chicago. Secured by deposit with Houspayable at office of Co.
(the trustee) of $125,000 vendor lien notes, which
ton Land & Trust improved
estate in Houston (chiefly in Woodland
cover well-locatedat $200,000.realCompany
organized In 1905; with. capital,
Heights), valued
in 1912 to
$100,000, Increased in 1907 to $200,000, In 1910 to $600,000,
1905. Does a large business,
6%
since
than
less
$800,000. Divs. not
of Houston,
chiefly in building and selling modern homes in subdivisions
controlled by the company under proper building restrictions.
0 mos. ending Dec. 1 1911,$33,303, or at rate of over $55,000 perEarnigsfo annum.
The Temnitercial
iux
COMMERCIAL EPITOME.
Friday Night, June 7 1912.
Trade continues to show improvement. The condition of
the spring-wheat crop is favorable. The cotton-crop outlook
has improved. More seasonable weather has helped, retail
and jobbing trade. The remarkable production of pig iron
during May attracts attention. The state of the iron and
steel industry is regarded as encouraging. Copper has further advanced. Building operations are active. But there
are some drawbacks. The prospects for the winter-wheat
crop are somewhat clouded, even allowing for evident exaggeration of any damage by winter killing, or more recently
by hot winds that. may have occurred. The political
situation is still full of anxiety. For this reason many are
inclined to adopt a conservative course until after the election.
LARD on the spot has been higher, with a moderate business; prime Western 11.05c., Middle Western 10.90c. and
City steam 10/c. Refined lard has been in fair demand at
an advance. Continent 11.25c. South America 12.10c. and
Brazil in kegs 13.10c. The speculation in lard futures at the
West has been fairly active, with packers among the leading
buyers. Shorts have covered freely. Receipts of hogs have
-Hartfield's "New Wall Street Code," recently issued, been running noticeably behind those of a year ago.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
and which is an extended and improved edition of a code
Fri.
Thurs.
Wed.
Tues.
Mon.
SW.
issued in 1905, appeals with particular force to financial July delivery
cts_10.62 M 10.95 10.8234 10.8734 10.95 10.90
and banking interests. In fact, it would be very difficult September delivery_ __ _10.8234 11.1234 11.00 11.07 34 11.12 3,4 11.10
PORK on the spot has been steady but quiet. Mess
to imagine a code better fitted for the use of the interests
for which it has been compiled. It contains 156,563 cypher $20 50@$21, clear $19@$20 50 and family $20 25@$21.
words, also roots and terminals forming millions of artificial Beef has been steady but slow of sale; mess $15 50®$16,
words conforming to the telegraphic regulations. Further- packet $17@$17 50, family $18@$18 50 and extra India.
more, it is very complete as regards financial dialogue, par- mess $29@$29 50. Cut meats have been in moderate deticularly for bond and stock transactions, syndicate partici- mand and steady; pickled hams 10@20 lbs., 12%@13c.;
pations, &c., &c. 25,000 names of corporations and their pickled bellies, 6©12 lbs., 11611%c. Butter has conbond and stock securities are also included, as well as 11,250 tinued in moderate demand and firm; creamery extras 27M®
4c. Cheese quiet; State, whole milk, new, white, spenames of banks, bankers and brokers all over the world, and 273
%®14c. Eggs quiet; Western firsts 18®19c.
10,750 single English words, each represented by a cypher cials, 133
word, to aid in disguising messages. The code is for sale
OILS.-Linseed oil has been firm, with a moderate trade;
by the Hadfield Telegraphic Code Publishing Co., 73 Pearl at Duluth seed has continued strong. City, raw, American
St., New York.
seed, 78@79c.; boiled, 79@80c.; Calcutta, raw, 85c. Cot-F. J. Lisman & Co., 30 Broad St., this city, have issued tonseed oil has been quiet, with futures lower; winter, 6.80®
a circular with a marked map of the United States showing 7.70c.; summer white, 7@7.60e.; crude nominal. Cocoanut
the small and independent railroad properties whose securi- has been quiet; Cochin, 93®10c. Ceylon 9@93c. Chinaties were formerly placed by the firm before they became wood 10%®11c. Lard has been firm, but rather quiet;
parts of the big transportation systems,and have since en- production is being curtailed. Prime 85@88c. Corn has
hanced in value. A table also compares the prices of over been firm at $6 25@$6 30. Cod has been steady, with a
125 issues of bonds, when these properties were small and in- moderate jobbing trade; domestic 52@53c.
COFFEE on the spot has remained quiet. Rio No. 7,
dependent, with their present market prices, indicating a
profit of from 2 to 62 points on the investment. The firm 1434c.; Santos No. 4, 153@16c. West India growths have
offer the bonds of twelve issues possessing similar possibilities continued quiet and steady; fair to good Cucuta 16@163c.
of enhancement in value, and will furnish detailed informa- The speculation in coffee contracts has been fairly active
at some advance, in sympathy with higher foreign markets.
tion. A copy of this circular will be sent free on request.
-Hathaway, Smith, Folds & Co., bankers, at 45 Wall Receipts at Rio and Santos have been running behind those
points they have been
St., this city, have published in booklet form the excellent of last year, though at some other
larger than last year. Closing prices were as follows:
address on "The Desirability of Commercial Paper as a Bank somewhat
13.66@13.87
May
13.80®13.81 Sept
13.76@13.77
Jan
13.43113.48 Oct
Investment" recently delivered by J. Herbert Case, Vice- Feb
13.70 13.71
13.73 ® 13.76 June
Nov
13.72 ® 13.74
13.50
13.49
July
®13.80
the
at
_13.79
___
March
Brooklyn,
of
President of the Franklin Trust Co.
Dec
.76@13.77
13
13.59
_13.57
August
13.81
@
13.80
_
April
Association
annual convention of the New Jersey Bankers'
at
less
with
demand
urgent
declined
has
-Raw
SUGAR.
on
at Atlantic City. Copies of this booklet•may be had free
home and abroad. Centrifugal, 96-degrees test, 3.92c.;
application.
muscovado, 89-degrees test, 3.42c.; molasses, 89-degrees
-The bond firm of Coffin & Crawford, Chicago, has been
Yet receipts were lighter and stocks are 190,273
dissolved. Percival Brooks Coffin, having purchased the test, 3.17c.
against 266,608 tons last year and 379,572 tons in 1910.
assets and good-will of the former company, will continue tons,beet-root
crop advices from the Continent are favorable
the business at room 308 N. Y. Life Building, No. 39 South But
to be at least 1,800,000 tons.
La Salle St. Chicago. Mr. Crawford, as elsewhere noted, and Cuban crop is expected
Refined, granulated, fine, 5.20c.
has associated himself with C. F. Childs & Co.
PETROLEUM.-Refined continues firm, with a good
-C. F. Childs & Co. of Chicago announce that William demand; refined, barrels, for export, 8.60c.; bulk 5c., cases
the
&
of
firm
of
Coffin
member
Crawford,
senior
Ritchie
10.50c. Crude 3@5c. per bbl. higher. Naphtha has been
Crawford, has been made manager of their municipal bond firm, with an active trade; 73©76-degrees, in 100-gallon
of
the
of
organization
firm
that
and
the
sales
department
drums,. 20c.; drums $8 50 extra.
Coffin & Crawford has been consolidated with that of C. F.
TOBACCO.-Trade has continued dull. Manufacturers
Co.
Childs &
have bought only as their needs required. Of Sumatra the
a
folder sales have been small. Most people are letting it alone
-Ackermann & Coles, New York, have issued
supplying information about Prairie Oil & Gas, Standard Oil for the present looking for lower prices later on. To-day
and
F. S. another inscription sale took place across the water. Ameri&
Co.
of Indiana and Vacuum Oil, while Pouch
Smithers & Co. have compiled statements regarding the can buyers are in attendance with the view of purchasing
Vacuum Oil Co., the last-named house as a supplement to lots that especially appeal to them. Cuban leaf is slow of
their general Standard Oil compilation.
sale. The new crop is naturally the centre of interest.
-O'Connor & Kahler, 49 Wall St., N. Y. and the RookCOPPER has advanced on a steady demand from specuery, Chicago, are to-day advertising a new loan of $90,000 lators and consumers; Lake,spot and near-by,17Hc.®17Yic;
City of Jackson, Miss., 5% coupon funding and street- electrolytic, 17@173'c. Tin has latterly shown steadiness
improvement bonds, due June 11932, at 105.25 and interest, on the spot but some weakness for later delivery; spot
to yield about 4.60% on the investment. Special circular 46.30c. Lead has been firmer at 43c. Spelter has been
on request.
firmer at 6.90@7c. Pig iron has been in steady demand at
-On June 1st 0. G. Corns became associated with the $15.25@$15.75 for No. 1 Northern and $15@$15 50 for
firm of Allerton, Greene & King of Chicago in the capacity No. 2 Southern. The pig iron production in May reached
of sales manager. Mr. Corns has for nine years been with 2,512,582 tons, against 2,375,436 in April. These figures
the Chicago branch of E. H. Rollins & Sons. Prior to that are considered significant. Finished material is in steadily
time lie was with the firm of Mason, Lewis & Co. of that city. increasing demand. Some big contracts are being given
-Seasongood & Haas, bankers, 100 Broadway,are offering out. The U. S. Steel Corporation has appropriated $20,for sale at an attractive price the $1,500,000 New York State 000,000 for improvements. Other concerns will spend
steel are
4% bonds which were awarded to them by the State Comp- $6,000,000 to $8,000,000. Conditions in iron andfirm
and
considered promising. Steel billets have been
troller on Thursday.
Of
-Carlton Higby, who has been with McCluney & Co. of Bessemer commands a premium over open-hearth.
Chicago and St. Louis for the past four years, has become late, new transactions in finished lines have been somewhat
less active, owing evidently to the recent advance in prices.
associated with the Chicago office of Geo. H. Burr & Co.
1572
THE CHRONICLE
[VoL. Lxxxxiv.
COTTON.
On Shipboard, Not Cleared for-
Friday Night, June 7 1912.
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
24,504 bales, against 34,901 bales last week and 43,902
bales the previous week, making the total receipts since
Sept. 1 1911 11,339,525 bales, against 8,313,850 bales for
the same period of 1910-11, showing an increase since Sept. 1
1911 of 3,025,675 bales.
Sat.
Receipts atGalveston
Texas City
Port Arthur, &c_
New Orleans_ _ _ _
Gulfport
Mobile
Pensacola
Jacksonville, &c.
Savannah
Brunswick
Charleston
Georgetown'
Wilmington
Norfolk
Newp't News, &c
New York
Boston
Baltimore
Philadelphia
Tntnlia thIQ
Tues.
Wed.
Thurs.
Fri.
1,827
2,555
320
376
615
7,552
____
150
____
404
____
237
____
1,188
4,356
755
____
168
4,356
2,902
155
105
891
_
1,5iTI
4,:iii
162
27
_
1,285
_
;Ili
1'7
____
23
907
3
____
23
350
77
A MIA
196
248
_
_
_
898
ti5i
iiia
4
17
---62
583
6
---8
855
22
---3
304
_
--
69
-119
3,166
_-----------77
:
____
427
---___
---------464
----_
464
__- ---- -- ---------s 955
4(159
2.897 8.811
5.075 24.5017
--___-_
167
-----ani
The following shows the week s total receipts, the total
since Sept. 11911, and the stocks to-night, compared with
last year:
1910-11.
1911-12.
Receipts to
June?.
This Since Sep This Since Sep
Week. 1 1911. Week. 11910.
Galveston
Texas City
Port Arthur, &c_
New Orleans __ _
Gulfport
Mobile
Pensacola
Jacksonville, &o_
Savannah
Brunswick
Charleston
Georgetown
Wilmington
Norfolk
Newp't News, &c.
New York _____ _
Boston
Baltimore
Philadelphia
Total
7,552 3,474,060 3,781 2,728.655
586,468
308,229
4,356 279,775___ 258,797
2,902 1,610,639
5,4
3 1 1,541,413
66,845
34,211
891 376,721
154 249,498
212,701
122,678
_ __ _
50,387
24,927
562
4,481 2,358,774 4,596 1,406,095
403,983
200 222,634
69 411.782
532 282,578
1,169
12
1,436
119 542,609
15 408,385
3,166 735,015
1,670 557,571
____
37,031
____
3,924
77
6,191
641
13,781
427
61,709
37,645
199
464 121,414
478 111,028
____
2,252
365
____
11
nnA
11990 ,
49c
1A 971A RIR st -in
Stock.
1912.
1911.
93,682
17,203
34,049
8,067
3,331
74,342
45,248
421
13,765
16,024
741
6,845
3,685
31,608
- --7785
14,031
160,993
10,033
8,487
1,525
124,075
9,213
2,579
910
Aid AAA
97R OR1
7,186
Note.-3,691 bales added at Mobile and 4,550 bales at Savannah as
correction of receipts since Sept. 1.
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons
Receipts at-
1912. 1
Galveston __ _
Texas City,&o
New Orleans_
Mobile
Savannah __ _
Brunswick_
Charleston,&c
Wilmington_ _
Norfolk
N'port N., &c
All others__ _
7,552:
4,356
2,902
891
4,481
Total this wk_
Since Sept. 1_
69
119
3,166
1911.
1910.
3,781
4,640
5,431
154
4,596
200
544
15
1,670
9,584
136
5,164
2,910
261
153
1,074
1909.
17.996
3,284
16,405
1,664
6,689
760
110
525
4,216
1908.
15,855
22,941
1,473
12,094
2,037
2,234
6,178
1907.
5,647
87
9,983
179
5,129
988
1,880
2,910
1,848
1,092
204
209
4,262
697
1,378
24,504
18,271
26,832
53,497
63,902
27,775
liqqnknet a 919 OKA., iliq A790
An, 99,,[1151
995
The exports for the week ending this evening reach a total
of 46,260 bales, of which 10,452 were to Great Britain,
1,989 to France and 33,819 to the rest of the Conitnent.
Below are the exports for the week and since Sept. 1 1911:
Exports
from-
Week ending June 7 1912. From Sept. 1 1911 to June 7 1912.
Exported to-,
Exported l'l---Great I
conaConti1 Great
:ritain. Fence nent. Total. Britain. France. neat.
Galveston
Texas City_
Pt. Arthur,&c
New Orleans.. 8,1071
Mobile
Pensacola
Gulfport
Savannah
Brunswick
Charleston_ ___
60
Wilmington__ _
I
Norfelk
1,02
New York _ _ _.
240
Boston
145
Baltimore ____I
Philadelphia _ _
25
Portland, Ble_
San rraneisco
Seattle
Tacoma
Detroit
Total
Total 1910-11_
10,452
5,264
1,551
____ 4,356
1,989 13,799
10,664
____
____
____
____
____
601
1,121
1,181
---100
444
1.985
Total.
1,3541,357,309280.8211,290,3622,028,492
411,533 92,817 81,737 586,087
4,356 21,546 66,140 116,698 204,384
23,985 806,151 17-1,643 557,983 1,538,782
, 106,912 65,654 119.319 291,885
90,329 213,051
i 58,385 64,337
I
31,902
25,046 56,948
10,664 471,938 169,672 1,119,834 1,761,444
175,160 372,824
. 197,664
600 51,365
199,203 250,574
1 162,097 115,441 220,792 498,330
1,621
5,622 20,378
14,756
1,360 229,099 82,421 292,035 603,555
145 166,915
11,657 178,572
1,181
18,912 6,220 97,178 122,310
250 63,047
22,064 85,111
6,829
I
6,829
210,171 210,171
100,
444
145,861 145,861
59,843
59,843
4,868
I
4,868
Total.
11,933
36,797
16,000
1,500
2,400
22,116
56,885
45,248
13,765
2,373
15,608
159,493
29,818
081 11,589 24,799 18,263 69,588
7,542 7,906 7,376 8,097 37,987
345,306
235,944
_
ina ------------793
Total 1012... 13,956
Total 1911..
7,066
Total 1910.. 95 AAA
1 AMA
A clAn
li 190
n n90
iii
111 MA7
RAR A211
Speculation in cotton for future delivery, though quiet at
one time, has latterly been more active at a sharp advance in
prices. This rise was due primarily to reports of heavy rains
in the eastern section of the belt, more particularly in
Georgia, Alabama and Mississippi, though it is also said that
Louisiana has likewise had rather too much rain. At the
same time, it is contended that Texas and the Southwest
generally, and even portions of the central belt, need more
rain. The Bureau report on June 4th had comparatively
little effect. It was not so low as some had expected on the
one hand, nor was-it so good as some had looked for on the
other. It stated the condition at 78.9%, against 87.8% a
year ago and 82% two years ago, and was 2.6% under the 10year average for June. To many this did not appear
very alarming. At the same time, not a few of tile
shorts covered for the reason that they had been looking for
a report of 80 to 81%. Some previous reports had put the
condition in tile neighborhood of 77 to 78.5%. A Southern
newspaper had expressed the opinion that the condition was
anywhere from 80 to 83%. What happened was that the
market held its own in a manner that caused some uneasiness
among the shorts. Reports were in circulation that parts of
the belt needed rain. It was even said that the Eastern section needed rain, as well as Texas, Oklahoma and Arkansas.
At the same time the spot markets were noticeably firm.
Spinners have shown a disposition to buy. The exports
have reached a total which throws all previous records into
the shade. This of itself has attracted a good deal of
attention. It has been argued from this that the
fundamental situation of the trade is sound. The South has
shown no anxiety to sell. Yet some maintain that an advance at this time is uncalled for. They think that the price
has reached a level which discounts anything at all bullish
in the situation. They think that tile crop has been steadily
improving for weeks past, that much of tile lost ground
has been recovered and that with reasonably favorable conditions from now on a good crop will be made. The stands
are generally reported good. There is an impression
that Texas will make tile largest crop in its history. At
the same time the dry goods trade in this country has
not been in so favorable a condition as it was a while ago.
Prices of yarns and other goods have latterly been rather
weak. Some think that the English cotton goods industry is also in a condition that leaves something to
be desired. Meantime the spot sales at Liverpool
have dwindled to very small daily totals. Some do not
like the state of general business in the United States. It
has been adversely affected by a cold, backward spring and
then by political excitement which they fear bodes ill for
the general trade of the country until after the Presidential
election at least. But latterly heavy rains in the Atlantic
and Eastern Gulf States have caused a sharp upward turn of
prices. The rise was stimulated by heavy covering of shorts
by local operators and also by the Waldorf-Astoria element
which had got short of the market. Certain large Southern
shorts are also believed to have covered. Prominent bull
interests in Wall Street and also some well-known spot houses
have bought with a freedom which has attracted general
attention. To-day prices advanced on heavy rains in
Georgia and covering, but reacted later and ended at a small
decline for tile day. The market was narrow and largely
professional. There was considerable profit-taking by wellknown bull interests. Spot cotton ended at 11.65c. for
middling uplands, showing a rise for the week of 15 points.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
June 1 to June 7Middling uplands
30.558 35.8223.256.273895.401 3.104,8607,256,534
Sat.
11.40
Mon. Tues. Wed. Thurs. Fri.
11.40 11.45 11.45 11.65 11.65
NEW YORK QUOTATIONS FOR 32 YEARS
The quotations for middling upland at New York on
June 7 for each of the past 32 years have been as follows:
1912_0
11.65 1904.0
7.75 1888..c
11.80 1896.c
moo
1911
15.95
15.20
11.45
11.40
13.25
11.20
8.40
1910
1909
1908
1907
1906
1905
1903
1902
1901
1900
1899
1898
1897
11.50
9.38
8.38
8.88
6.31
6.50
7.69
1895
1894
1893
1892
1891
1800
1889
7.25
7.44
7.88
7.75
8.75
12.25
11.19
1887
1886
1885
1884
1883
1882
1881
11.44
9.25
10.75
11.62
10.62
12.25
11.06
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
33,819 46,260 4,149,3261150068 4,840,905 0140,299
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures .for
New York. El
I Great
GerOther CoastBritain. France many. Foreign wise.
New Orleans_ _
681
787 6,818
3,647
____
Galveston
8,444
____ ' 9,702 17,181
1,470
Savannah ___ .
Charleston __ _
_
---_
------ Mobile
Norfolk _ _ _ _
16,000
New York_ _ _
200
-ioii -:iiiii
800
____
Other ports..
1,500
____
900
____
Total.
1,859
---____
tarpAlt
Mon.
Leaving
Stock.
June 7 at-
Saturday_ _ _
Monday_ _ _
Tuesday _ _ _
Wednesday_
Thursday _ _
Friday
Total
Futures
Market
Closed.
Quiet, 10 pts. dec. Steady
Quiet
Steady
Quiet, 5 pts. adv._ _ Very steady...
Quiet
Quiet
Steady, 20 pts. adv. Very steady_ _ _
Steady
Barely steady _
SALES.
Spot. Cantr'ct Total.
-
204
86
loo
1,666
204
2,600
200
66
300
1,500
2.800
4,670
1,500
1,870
14*.
1573
THE CHRONICLE
JUNE 8 1.9.12.1
AT THE INTERIOR TOWNS the movement-that is,
FUTURES.-The highest, lowest and closing prices at
the receipts and shipments for the week and since Sept. 1,
New York the past week have been as follows:
and the stocks to-night, and same items for the corresponding period for the previous year-is set out below.
R N
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Thursday,
June 6.
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THE VISIBLE SUPPLY OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week's returns, and consequently all foreign figures are brought down to Thursday
evening. But to make the tota 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.
1912.
June?Stock at Liverpool --------bales_ 1,208,000
4,000
Stock at London
127,000
Stock at Manchester
1911.
795,000
7,000
76,000
1909.
1910.
565,000 1,163,000
8,000
5,000
82,000
52,000
1,339,000
7,000
533,000
289,000
3,000
18,000
43,000
14,000
878,000
12,000
139,000
203,000
2,000
20,000
17,000
8,000
622,000 1,245,000
10,000
11,000
202,000 379,000
213,000 288,000
4,000
3,000
36,000
11,000
41,000
10,000
6,000
8,000
907,000
406,000
464,000
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Total Continental stocks
764,000
2,246,000 1,284,000 1,086,000 2,017,000
Total European stooks
97,000
100,000
157,000
India cotton afloat for Europe__ _ 130,000
169,215
178,846
215,655
154,671
Europe
for
afloat
Amer. cotton
32,000
36,000
16,000
Egypt,Brazil,&c.,afloat for Eur'pe 37,000
140,000
119,000
118,000
89,000
Stock in Alexandria, Egypt
630,000 600,000 714,000 436,000
Stock in Bombay, India
414,894
273,931
405,628 480,265
Stock in U. S. ports
169,018
215,249 235,324
Stock in U. S. interior towns--- _ 188,316
15,217
4,292
1,854
6,328
U. S. exports to-day
3,954,910 2,844,456 2,843,870 3,668,461
Total visible supply
Of the above, totals of American and other descriptions are as follows:
Americanbales.1,087,000 664,000 475,000 1,061,000
Liverpool stock
61,000
68,000
42,000
104,000
Manchester stock
873,000 359,000 417,000 715,000
Continental stock
169,215
178,846
154,671
215,855
American afloat for Europe
480,265
414,894 273,931
405,628
U.S. port stocks
188,316
169,018
215,249 235,324
TJ. S. interior stocks
4,292
1,854
15,217
6,328
U. S. exports to-day
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stook
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total America
2,847,910 1,700,456 1,715,876 2,790,461
121,000
4,000
23,000
34,000
130,000
37,000
119,000
639,000
131,000
7,000
15,000
47,000
100,000
36,000
118,000
600,000
90,000
5,000
10,000
47,000
157,000
16,000
89,000
714,000
102,000
8,000
14,000
49,000
97,000
32,000
140,000
436,000
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The above totals show that the interior stocks have decreased during the week 15,055 bales and are to-night 19,298
bales more than at the same time 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 te egraphic reports Friday night. The results for
the week and since Sept. 1 in the last two years are as follows:
Continental imports for the past week have been 103,000
bales.
The above figures for 1912 show a decrease from last week
of 195,134 bales, a gain of 1,110,454 bales over 1911, an excess of 1,111,034 bales over 1910 and a gain of 286,449 bales
over 1909.
-1910-11-----1911-12•
Since
Since
Week. Sept. 1.
Week. Sept. 1.
3,928
503,186
3,843 625,874
1,067 205,191
541
63,960
8,40825,957
164,489
129,029
1,645
718
78,234
122,649
2,023
698
173,114
188,591
763
1,134
167,081
1,972 442,132
June 7ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, &c
-ii8
8,360 1,281,792
10,787 1,616,103
Total gross overland
Deduct shipmentsOverland to N. Y., Boston, &c__ _
968 191,566
433
100,367
Between interior towns
794
69,946
Inland, &c., from South
2,245
Total to be deducted
Leaving total net overland*
361,879
1,318
278
1,819
162,819
60,026
48,801
3,415
271,646
4,945 1,010,146
8,542 1,254,224
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has been 8,542 bales, against 4,945 bales for the week last
year, and that for the season to date the aggregate net overland exhibits an increase over a year ago of 244,078 bales.
1910-11-Since
Sept. I.
8,313,850
1,010,146
1,907,000
1911 12
Since
In Sight and Spinners'
Sept. 1.
Week.
Takings.
24,504 11,339,525
Receipts at ports to June 7
8,542 1,254,224
Net overland to June 7
Southern consumption to June 7_ 56,000 2,068,000
89,046 14,661,749
87,879
•15,055
Total marketed
Interior stocks in excess
Week.
18,271
4,945
49,000
72,216 11,230,996
118,240
*19,372
Came into sight during week__ _ 73,991
14,749,628
Total in sight June 7
52,844
2,265,003
12,124
North'n spin's takings to June 7_ _ 24,863
11,349,236
2,041,764
Movement into sight in previous years:
Bales.
9,985,406
13,004,134
10,787,539
Since Sept. 1Bales.
56,461 1909-10-June 10
94,770 1908-09--June 11
90,433 1907-08-June 13
Week1910-June 10
1909-June 11
1908-June 13
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.-Below as the closing quotations of middling
cotton at Southern and other principal cotton markets.
1,107,000 1,144,000 1,128,000 878,000
2,847,910 1,700,456 1,715,876 2,790,461
3,954,910 2,844,456 2,843,876 3,668,461
Total visible supply
6.45d.
8.31d.
5.83d.
8.23d.
Middling Upland, Liverpool
11.650.
15.90o.
York
15.40c,
11.200.
New
Middling Upland,
11 %d.
10 %d.
14 Ud.
9.00d.
Egypt, Good Brown, Liverpool_ _
9.50d.
11.25d.
8.00d.
11.00d.
Peruvian, Rough Good, Liverpool
6 Md.
7,Md. 7 1-16d, 5 7-16d.
Broach, Fine, Liverpool
6 1-16d. 7;id.
7.00d.
554d.
Tinnevelly, Good, Liverpool
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June 5.
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June 4.*
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Movement to June 9 1911.
1
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Movement to June 7 1912.
.
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Receipts.
4 (0
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t
w
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ow
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ppZ551.
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Week. I Season.
44
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Saturday,
June 1.
.agiRglagIggiagiggi2g 012g15,"41n1
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= 11 = r..1 = = = = = = 88 81
00
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Closing Quotations for Middling Cotton onWeek ending
June 7.
Galveston
New Orleans _ _
Mobile
Savannah
Charleston
Wilmington_ _ _
Norfolk
Baltimore
_
Philadelphia
Augusta
Memphis
St. Louis
Houston
Little Rock..- -
Sarday. Monday. Tuesday. Wed'day. Thursd'u. Friday.
11 9-16
11
11 31134
1134
1134
118%
11.65
12
12
1134
11 7-16
1134
11 3
11%
1134
1134
1151
11.65
12
12
1174
1154
11 11-16
11
1134
1134
1134
1111-16
11
1134
1134
11%
11 13-16
11%
1134
1134
1134
11 13-16
1134
11 N
113.6
1134
1134
1134
11
11.70
12
12
1134
11 7-16
1154
1134
113i
11.90
12
12
1134
11 9-16
1134
1134
1151
11.90
12
12
11%
11 9-16
1134
11.70
12
12
11;4
11 7-16
1134
1574
THE CHRONICLE
[VoL. Lxxxxiv.
.NEW ORLEANS,.OPTION MARKET.—The highest,
Huntsville, Tex.—It has
on four days during the
lowest and closing quotations for leading options in the New week, the rainfall having rained
reached two inches and thirty
Orleans cotton market for the past week have been as follows: hundredths. The thermometer
has averaged 80, the highest
being 94 and the lowest 66.
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday,'
Kerrville, Tex.—Rainfall for the week fifty-eight hunJune 1. June 3. June 4. June 5. June 6. June 7.1
dredths of an inch, on three days. The thermometer has
June—
averaged 76, ranging from 60 to 92.
— ® __
Range
Lampasas, Tex.—We have had rain on two days during
Closing
11.61-.63
11.73 — 11.70 — 11.87 — 11.83 —
July—
the week, the rainfall being seventy-six hundredths of an
Range
11.56-.65
11.66-.79 11.70-.74 11.76-.94 11.86-.99 inch. The thermometer has ranged from 58 to 96,
averagClosing
11.63-.64
11.76-.77 11.72-.73 11.89-.90 11.85-.87
August—
Range
Closing
September—
Range
Closing
October—
Range
Closing
November—
Ranpe
Closing
December—
Range
Closing
January—
Range
Closing
February—
Range
Closing
Marcia—
Range
Closing
Tone—
Spot
fl..•1'..m.
— @ —
11.47-.49
— ® -® —11.72-.74
11.56-.58 11.54-.56 11.69-.70 11.66-.67
ingLo
gview, Tex.—We have had rain on two days of the,past
7.
week, the rainfall reaching ninety-eight hundredths of an
Average thermometer 81, highest 96, lowest 66.
Luling, Tex.—We have had good rain on five days during
the week, the precipitation being two inches and forty hundredths. •The thermometer has averaged 80, highest 94,
lowest 66.
Nacogdoches, Tex.—There has been rain on three days the
past week, the rainfall reaching two inches and twenty-two
hundredths. The thermometer has averaged 77, ranging
from 66 to 88.
Palestine, Tex.—There has been rain on four days during
the week, the rainfall reaching one inch and six hundredths.
The thermometer has ranged from 64 to 90, averaging 77.
Paris, Tex.—It has rained on two days during the week.
the rainfall being fifty-four hundredths of an inch. Average
thermometer 78, highest 94, lowest 62.
San Antonio, Tex.—We have had rain on one day during
the week, the rainfall being fifty-eight hundredths of an inch.
The thermometer has averaged 80, the highest being 92 and
the lowest 68.
Taylor, Tex.—There has been no rain during the week
Minimum thermometer 66.
Weatherford, Tex.—There has been rain on three days of
the week,.the rainfall reaching eighty-eight hundredths of an
inch. The thermometer has ranged from 54 to 94, averaging 74.
Ardmore, Okla.—We have had no rain during the week.
Thermometer has averaged 76, ranging from 56 to 96.
Marlow, Okla.—It has been dry all the week. The thermometer has ranged from 55 to 94, averaging 75.
Tulsa, Okla.—It has rained on one day of the week, the
rainfall being fifteen hundredths of an inch. Average thermometer 75, highest 96 and lowest 54.
Alexandria La.—There has been rain on two days of the
past week, the rainfall being two inches and sixty-eight hundredths. The thermometer has averaged 82, highest being
94 and lowest 70.
New Orleans, La.—We have had rain on five days during
the week, the rainfall being one inch and eighty-four hundredths. Thermometer has averaged 82, ranging from 72
to 92. Month's rainfall 16.80 inches.
Shreveport, La.—It has rained on four days of the week,
the precipitation reaching ninety-two hundredths of an inch.
The thermometer has ranged from 60 to 90, averaging 79.
Eldorado, Ark.—It has rained on three days of the week,
the rainfall reaching fifty-two hundredths of an inch. Average thermometer 76, highest 91, lowest 62.
Helena, Ark.—Farm work is doing well, but rain is needed.
The river is falling rapidly outside the levee and the planting
of cotton there was commenced yesterday. We have had
light rain on two days during the week, the precipitation
being thirty-nine hundredths of an inch. The thermometer
has averaged 76, the highest being 88 and the lowest 65.
May rainfall 1.72 inches.
Little Rock, Ark.—There has been no rain the past week.
The thermometer has averaged 76, ranging from 63 to 89.
Month's rainfall 1.81 inches.
Columbus, Miss.—We have had rain on four days during
the week, the precipitation reaching three inches and twentysix hundredths. The thermometer has ranged from 61 to 93,
averaging 77.
Meridian, Miss.—We have had rain on six days the past
week, the rainfall being two inches and thirteen hundredths.
Average thermometer 76, highest 92, lowest 60.
Vicksburg, Miss.—We have had rain on each day of the
week, the precipitation reaching one inch and fourteen hundredths. The thermometer has averaged 84, the highest
being 90 and the lowest 67.
Dyersburg, Tenn.—We have had no rain during the week.
The thermometer has averaged 74, ranging from 57 to 90.
Memphis Tenn.—There has been rain on two days during
the week, to the extent of fourteen hundredths of an inch.
The thermometer has ranged from 58 to 00, averaging 76.
Month's rainfall 2.32 inches. Farm work making progress.
Nashville, Tenn.—It has rained on three days during the
week, the rainfall being forty-three hundredths of an inch.
Average thermometer 72, highest 88 and lowest 56.
Mobile, Ala.—Weather generally favorable. Plant small
but healthy. The general rain during the week improved
condition greatly. The week's rainfall has been three inches
and forty-four hundredths, on six days. The thermometer
has averaged 79, the highest being 89 and the lowest 70.
Month's rainfall 7.70 inches.
Montgomery, Ala.—Rains were beneficial. We have had
rain on five days during the week, the rainfall being two
inches and twenty-three hundredths. The thermometer has
ranged from 66 to 94, averaging 80.
11.33 —-inch.
11.33-.35
11.43-.45 11.41-.43 11.57-.59 11.54-.56
11.26-.30
11.28-.29
11.25-.41 11.33-.39 11.37-.59 11.51-.65
11.38-.39 11.36-.37 11.54-.55 11.51-.52
HOU- — @ — — @ — — ® — — ® —
—®
11.29-.31 DAY. 11.39-.41 11.37-.39 11.55-.56 11.52-.54
11.28-.3A
11.30-.31
11.27-.42 11.34-.40 11.39-.62 11.55-.69
11.40-.41 11.38-.39 11.56-.57 11.55-.56
11.32-.34
11.33-.34
_ ®
11.35-.3
11.39-.43 11.38-.45 11.48-.65 11.62-.71
11.45-.46 11.42-.44 11.60-.61 11.60-.61
_ ® __ ® _ _ ® _ _ ® _
11.47-.49 11.45-.47 11.62-.63 11.61-.63
— @ .43
11.42-.43
11.47-.49 — @ — 11.70-.73 11.75-.78
11.52-.53 11.50-.51 11.68-.70 11.69-.70
Steady.
Quiet.
Quiet.
Firm.
,Firm.
101oUntly.
NEW YORK tOTTON EXCHANGE.—Annual Election.
—At the annual election of the New York Cotton Exchange,
held on Monday last, June 3, the ticket headed by Mr. George
W.Neville, as given in the "Chronicle" last week, was elected.
OUR COTTON ACREAGE REPORT.—Our cotton acreage report will probably be ready about June 19. Parties
desiring the circular in quantities with their business cards
printed thereon should send in their orders as soon as possible
to insure early delivery.
AGRICULTURAL DEPARTMENT REPORT ON COTTON CONDITION.—The Agricultural Department at
Washington issued on June 4 its report on cotton conditions
and acreage as follows:
The Crop Reporting Board of the Bureau of Statistics of the United States
Department of Agriculture estimates, from the reports of the correspondents and agents of the Bureau, that the condition of the cotton crop on
May 25 was 78.9% of a normal, as compared with 87.8 on May 25 1911, 82
on May 25 1910, 81.1 on May 25 1909 and 81.5, the average of the past ten
years on May 25.
Comparisons of conditions by States follow:
May 25
States—
1912.
1911.
1910.
1909. 10-yrAv
Virginia
89
93
90
85
85
North Carolina
87
83
84
83
83
South Carolina
83
80
78
83
81
Georgia
74
92
81
84
83
Florida
75
95
80
91
87
Alabama
74
91
83
83
81
Mississippi
72
86
82
78
81
Louisiana
69
91
76
74
80
Texas
86
88
83
78
80
Arkansas
73
87
81
84
82
Tennessee
83
74
86
85
84
Missouri
74
87
86
93
85
Oklahoma
•
78
87
84
84
84
California
95
90
96
__
__
—
—
—
United States
78.9
87.8
82.0
81.1
81.5
EGYPTIAN COTTON CROP.—Under date of Liverpool,
May 23, Messrs. S. M. Weld & Co. of Boston have the
following:
There has been no confirmation of damage done to the crop in Egypt by
wet and cold weather, and, as far as we can hear, the crop is progressing
as favorably as possible. There is no doubt that with the present good
start and large acreage we may have a record Egyptian crop, but of course
it is impossible to calculate on this, as the main foe to Egyptian cotton—
I. e., fogs in August—has still to be faced. At this time or the season three
years ago everything looked perfect and people were forecasting a record
crop; the ultimate outturn was about 5ij million cantars, and this was
caused by bad fogs in August.
WEATHER REPORTS BY TELEGRAPH.—Our telegraphic advices from the South this evening indicate that
there have been beneficial rains over much the greater part
of the cotton belt during the week. Temperature, moreover, has been favorable. Reports from Texas are to the
effect that general conditions are very favorable, and from
most other sections improvement in the crop is noted.
Galveston, Tex.—Beneficial rains have fallen throughout
Texas during the week. Temperature and general conditions
are very favorable to cotton. We have had rain on five
days the past week, the rainfall being three inches and sixtyone hundredths. Average thermometer 79, highest 88,
lowest 70.
Abilene, Tex.—It has rained lightly during the week on one
day, the rainfall having reached sixteen hundredths of an
inch. The thermometer has averaged 73, the highest being
90 and the lowest 56.
Brenham, Tex.—There has been rain on six days during
the week, to the extent of one inch and fifty-two hundredths.
The thermometer has averaged 80, ranging from 68 to 92.
Cuero, Tex.—We have had rain on five days of the past
week, the rainfall being one inch and fifty hundredths. The
thermometer has ranged from 68 to 96, averaging 82.
Henrietta, Tex.—Dry all the week. Average thermometer
75, highest 96 and lowest 54.
1575
THE CHRONICLE
JUNE 8 1912.j
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Selma Ala.-There has been rain on two days of the week,
Therinch.
an
of
the rainfall reaching fifty-five hundredths
1910-11.
1911-12.
Cotton Takings.
mometer has ranged from 69 to 90, averaging 79.
Week and Season.
Season.
Week.
Season.
during
Week.
days
four
on
rain
Madison, Fla.-We have had
3,016,018
the week, the precipitation reaching four inches and seventy- Visible supply May 31
4,150,044
1,495,514
1,603,418
Visible supply Sept. 1
five hundredths. The thermometer has ranged from 69 to 90, American
52,844 11,349,236
in sight to June 7_ __ _
73,991 14,749,628
averaging 79.
40,000 2,237,000
31,000 2,135,000
Bombay receipts to June 6.._
349,200
9,000
198,000
shipm'ts to June 6_
15,000
Gainesville, Fla.-It has rained on five days during the Other Indiareceipts
2,000 1,006,000
to June 5_ _
965,000
1,000
week, to the extent of two inches and seventy-five hundredths. Alexandria
266,000
4,000
212,000
3,000
Other supply to June 5 •
Average thermometer 80, highest 93, lowest 67.
4,274,035 19,863,046 3,123,862 16,702,950
Total supply
Tallahassee, Fla.-There has been rain on four days during
Deduct3,954,910 3,954,9102,844,456 2,844,456
the week, the precipitation being five inches and thirty-one Visible supply June 7
hundredths. The thermometer has averaged 80, the highest Total takings to June 7
319,125 15,908,136, 279,406 13,858,494
247,125 12,754,136 193,406 10,422,294
Of which American
being 92 and the lowest 69.
86,000 3,416,200
other
72,000 3,154,000
which
Of
the
week,
five
the
days
on
of
fallen
has
Augusta, Ga.-Rain
in
Europe
from
receipts
Brazil. Smyrna, West Indies, &c.
Embraces
•
hundredths.
forty-four
and
inches
precip tation being six
SHIPPING NEWS.-As shown on a previous page, the
Average thermometer 78, highest 90,lowest 66.
Savannah, Ga.-The week's rainfall has been one inch and exports of cotton from the United States the past week have
twenty-two hundredths on five days. The thermometer has reached 46,260 bales. The shipments in detail, as made
averaged 79, highest being 89 and lowest 71. Month's up from mail and telegraphic returns, are as follows:
Total bales.
rainfall 7.41 inches.
NEW YORK-To Liverpool-May 31--Caronia, 100 foreign_ _ _
110
Washington, Ga.-We have had rain on four days during
June 5-Baltic, 10_
130
To London-May 29-Kingstonlan, 130
the week, the rainfall reaching four inches and seventy-six
870
To Venice-June 1-Laura, 870
50
hundredths. The thermometer has averaged 78, ranging
To Piraeus-June 1-Macedonia, 50
200
To Naples-June 3-Carpathla, 200
from 65 to 91.
1,554
GALVESTON-To Barcelona--June 6-Conde Wilfredo, 1,554_
4,356
Greenville, S. C.-Rain has fallen on two days during the PORT ARTHUR-To Bremen-June 5-Friederike, 4,356
-To Liverpool-May 31-Nubian, 6,022_ _ _June 5
week, to the extent of one inch and twenty-nine hundredths. NEW ORLEANS
7,347
-Louisianian, 325_ _June 6-Mercian, 1,000
61.
lowest
78,
highest 96,
850
Average thermometer
To Manchester-June 6-Mercian, 850
8,400
8,400
6-Atiantian,
during
Bremen-June
days
To
three
on
Spartanburg,S.C.-We have had rain
1,989
To Havre-June 4-Louislane, 1,989
an
of
hundredths
the week, the rainfall reaching sixty-six
To Antwerp-June 4-Workman, 1,975_ _ _ _June 5-Atlan2,341
tian, 366
inch. Thermometer has averaged 77, the highest being 91
675
Christiania-June 4-Noruega, 675
To
and the lowest 62.
2,383
To Barcelona-June 1-Conde Wilfredo, 2,383
Charlotte, N. C.-We have had rain on four days of the SAVANNAH-To Bremen-May 31-Wooda, 3,986__ _June 19.300
Greshem, 5,314
week, the rainfall being one inch and thirty-six hundredths.
105
To Hamburg-May 31-Wooda, 105
1,259
The thermometer has averaged 77, ranging from 65 to 89.
To Rotterdam-June 5-Mexican, 1,259
600
4-Port
600
ne
Inglis,
Manchester-Ju
-To
CHARLESTON
on
three
days
rain
good
had
have
Greensboro, N. C.-11ro
1,020
-To Liverpool-June 4-North Point, 1,020
301
during the week, the rainfall being ninety-one hundredths of NORFOLK
To Hamburg-June 1-Antonina, 301
300
300
1-Gooredyke,
89,
from
65
ne
to
ranged
has
Rotterdam-Ju
thermometer
To
an inch. The
45
45
BOSTON-To Liverpool-May 31-Armenian,
averaging 77.
100
To Manchester-June 1-Bostonian, 100
INDIA COTTON MOVEMENT FROM ALL PORTS.
June 6.
Beeeipts at-
1909-10.
191041.
1911-12.
£ince
Since '
Week. Sept. 1. Week. Sept. 1.
1Since
Week. Eept. 1.
30.000 2.135.000 43.000 2.240.000 36.000 1,011.000
Bombay
Since September 1.
For the Week.
Exports.
from-
Bombay1911-12_ _ 1,000 33,000 48,000
.._ __ 7,000 38,000
1910-11._
1009-10_ 2,000 30,000 22,000
Calcutta..........1,000
1911-12_
___.
1910-11__ 2,00
1903-10._____ 5,000
Madras.------- -1911-12 _ _ 1,000
___
__ .,_
1910-11__
....._
...... 2,00
1909-10._
All others,000
1911-12__ 2,000 9,00
____
1910-11._ 3,000 4,00
15,00
5,000
1909-10_
Total all1911-12._
1910-11_
1909-10._
Japan
Contineat. & China. Total.
Great
Great Contt- Japan
Britain. neat. JkClrtna Total. Britain.
4,000 42,00
3,000 13,00
2,000 47,00
10,000 297,001 777,000 1,084,000
53,000 809,000 513,000 1,375,000
92,000 905,001 804,000 1,801,000
82,000
45,000
54,000
1,000
2,000
5,000
2,000
3,000
3,000
16,000
33,000
37,001
12,000
18,000
46,000
30,000
54,000
86,000
-1,000
____
2,000
3,000
8,000
4,001
3,00'
18,001
13,000
1,000
200
1,000
7,000
26.200
18,000
3.000
7,000
20,000
9,000 121,000
38,000 219,001
24,000 266,001
31,000 161,000
12,000 269,000
8,000 298,000
1,001 97,000
38,001 54,000
32,001 81,000
24,000 437,001
102,000 1,079,001
123.0031,221.00I
821,200 1,282,200
543,2001,724,200
850,0002.203,000
MANCHESTER MARKET.-Our report received by cable
to-night from Manchester states that the market is quiet for
both yarns and shirtings.. Merchants are buying very
sparingly. We give the prices for to-day below and leave
those for previous weeks of this and last year for comparison.
1911.
1912.
84 lbs. Shirt- Cot'n
lags, common Mid.
Upl's
to finest.
328 Cop
Twist.
d. s.
(1.
Apr.
19 1)% 0 10% 6
26 9,1 0 IOU 6
May
6
3
10 D% 0 10% 8
17 D 11-16 010% 6
® 104 6
24 2%
31 D% 0 10% 0
June
934 0 104
0
1044
8
d.
s. d. d.
1%®11 5
1%©11 5
1 @11
1%011
154011
1%011
13.@11
1146811
3
3
3
3
3
ft
32s Cop
Twist,
d.
8% lbs. Shirt- Cot'n
ings, common Mid.
Upl's
to finest.
d. s. d.
s. d. d.
6.62 10% (3 11% 6 0011
6.56 10% (3 114 6 1(311
134 8.10
3
8.27
10 13-16© 11% 6
10 15-16® 11% 6
10 15-16® 11% 6
® 11% 6
1070 114 6
il
1%@11
134011
1%®11
1%011
134011
4
4
4%
4%
434
8.23
8.42
8.40
8.28
8.33
flat 11 1-111 fa 117Z g
11.1,7•11
A I/
0 qt
•
6.37
6.53
6.47
6.36
6.36
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
June 5.
Receipts (cantars)This week
Since Sept. 1
1911-12.
1910-11.
1909-10.
7,000
7,235,123
14,000
7,543,702
4,000
4,896,869
This Since
This Since
Week. Sept. 1, Week. Sept. 1.
Exports (bales)____ 204,455
2,250 189,488
To Liverpool
216,379 4,500 210,110
To Manchester
To Condsent and India_ _ 10.750 346,740 6,000 376,037
113,730
1,000 104,288
To America
This Since
Week. Sept. 1.
14.000 856,895 10,500 904,332
7,800 604,336
Total exports
2,000 147,273
118,640
5,506 281,394
330 59,029
BALTIMORE-To Bremen-May 31-Brandenberg, 881
To Hamburg-June 1-Bethania, $00
PHILADELPHIA-To Manchester--May 27-Manchester Spinner,
250
SAN FRAHCISCO-To Japan-May 31-China, 100
SEATTLE-To Japan-June 4-Awa Maru, 344
To China-June 4-Awa Maru, 100
881
300
250
100
344
100
46,260
Total
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that port:
June 7.
May 30.
May 24.
May 17.
46,000
24,000
39,000
47,000
bales_
Sales of the week
400
400
2,000
1,000
Of which speculators took__
300
300
2,000
1,000
Of which exporters took..__
40,000
22,000
35,000
41,000
Sales, American
8,000
13,000
1,000
11,000
Actual export
106,000
47,000
75,000
106,000
Forwarded
1,259,000 1,266,000 1,266,000 1,208,000
Total stock-Estimated
1,087,000
1,155,000
1,152,000
1,145,000
Of which American
60,000,
45,000
72,000
27,000
Total imports of the week_ __ _
33,000
51,000
59,000
11,000
Of will& American
88,000
99,000
128,000
173,000
Amount afloat
53,000
67,000
99,000
135,000
Of which American
LIVERPOOL STOCK TAKING (All Growths Other Than American).-Brazilian,
decrease,bales, 52; Egyptian, decrease, 10,582: West Indian,decrease,3,264; total
decrease, 13,898. Peruvian, increase, 906; African. increase, 1,759; East Indian,
Increase, 1,122; total increase, 3,787. Net decrease, 10,111.
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Saturday.
Spot.
Market,
12:15
P.M.
1
Mid. Upi'ds
Sales
Spec.&exp
HOLIDAY.
Monday.
Tuesday. Wednesday. Thursday.
Friday.
Moderate
demand.
Moderate
demand.
Good
demand.
Quiet.
Moderate
demand.
6.34
6.36
6.36
6.36
6.45
7,000
500
7,000
500
7,000
500
10,000
2,000
5,000
500
Futures,
Market I
opened J
Steady at Steady at Quiet at
1 point l34©2 pta. 2 poinst
advance. advance. advance.
Firm at
Quiet at
1 point 04@t7 pta.
advance.
decline.
Market, 1
4
P.M. j
Quiet at
Quiet at
Quiet at
2%0334 13ig2 pta. H(31 pt.
pts. dec. advance. advance.
Steady at Steady at
1340234 909% P18.
pta. adv. advance.
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths.
June 1
to
June 7
June _ _
June-July
July-Aug_
Aug.-Sep..
Sept.-Oct.
Oct.-Nov_
Nov.-Dec.
Dcc.-Jan.
Jan.-Feb _
Feb.-Melt.
Alch.-Apr.
Apr.-May
May-June
Sat.
Mon.
Tues.
Thus: 6 14 means 6 14-1005.
Wed,
Thurs.
Fri.
1254 1234 1254 6 1254 4 1254 4 1254 4
12 341 4
p.m. P.m. P•m• P.m. Pm.P.m. P•m• P.m. p.m. P.m. p.m. p.m.
6 1434 13
1254
6 14
15
663.6
6 17 15%
6 14
1214
HOLI- 6 12 10%
DAY. 6 11 0954
6 1034 09
6 10% 09
6 1134 10
6 123-4 11
6 13 11%
12 34
6 14
16
1534
18
19
15
13
12
1154
1134
1234
1334
14
15
15
1454
17
1754
14
12
11
1054
1034
1134
1234
13
14
16 34 1834 25 2734
16
16
1554 15% 16 18 2454 27
18
1754 18 20 2634 29
1854 18% 19 21 27% 30
15 1454 14
17 2334 26
13 12% 12 15 215424
12 11% 11 13% 20% 23
1154 11
10% 13 20 22 34
1134 11
1034 13 20 2254
1134 14 21 2354
12 34 12
1334 13 1234 15 22 2454
14
13 15% 2254 25
14
15
1454 14 16% 2354 26
1
BREADSTUFFS.
Friday Night, June 7 1912.
Flour has continued to sell slowly. Buyers adhere to the
policy of purchasing just enough to supply immediate wants
1576
THE CHRONICLE
and manifest no desire to go beyond this. In other words,
they are pursuing the same course that they have for many
months past, and it can be readily imagined that the flour
market is anything but an interesting affair. Dulness,
monotony, uncertainty, a disposition to watch and wait, are
its most conspicuous features. Yet, prices, on the whole,
have been pretty well maintained. The course of the wheat
market will naturally have much to do with the future direction of prices for flour.
Wheat has been erratic and nervous, now advancing, now
declining. The weather news has been the keynote. Reports of rains in Kansas and Nebraska have from time to
time caused lower prices. Reports that the rains were insufficient have occasioned rallies; so have statements that
more or less damage has been done by high winds and dust
storms in the Dakotas, though this sounds rather strange at
this early stage of the season. Still, even such talk has not
been without a certain influence in a sensitive market. Hot,
dry weather in Kansas and Nebraska has had a more stimulating effect, however, than anything else. Big crops in
those States have been relied upon to make good partially
or wholly the loss in the soft winter-wheat States east of the
Mississippi. Furthermore, the receipts have been small,
stocks have been decreasing, the cash demand, partly for
export, has at times increased, and the world's shipments
have fallen off. They were only 9,968,000 bushels, or some
3,600,000 bushels less than in the previous week. The visible supply is down to within 3,000,000 bush. of the total of a
year ago. This is commented upon as an interesting feature.
The contract stocks at Chicago are smaller than those of a
year ago. This has not often happened in recent years.
The world's supply is steadily decreasing. The spring-wheat
acreage in this country is said to be some 740,000 acres
smaller than last year's. Yet on the other hand, some reports from Kansas and the spring-wheat belt have been
favorable. East of the Mississippi, too, the recent weather
conditions have been better. It has been warmer, yet with
sufficient rainfall, and the plant has made rapid growth.
One private report puts the condition of spring wheat at
95.3% and that of Kansas at 77.1, against 75.9 recently.
In Texas and Oklahoma the crop is made and in Texas
harvesting is under way. Of late,rains in Kansas and Nebraska have caused selling and more or less weakness of
prices. It is a weather market and is likely to be for some
time to come. The Government crop report of next Monday is awaited with much interest. To-day prices advanced
on unfavorable crop reports. Northwestern markets were
particularly strong, notably Winnipeg, where there was a
good export business reported.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Frt.
No. 2 red
cts_121% 122% 122% 121% 121% 121%
July delivery in elevator
113% 115% 115% 114% 114
115%
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Frt.
July delivery in elevator
cts_108% 110% 110% 109% 108% 110%
September delivery In elevator_ __ _104 % 106
106% 105'% 104'% 105%
[VoL. Lxxxxiv.
consumption is large, and there has been some tendency at
times rather to overdo the selling for short account, while the
interior or country districts have shown no anxiety to sell.
To-day prices advanced. Former bears have turned bull.
The cash demand was better. Some of the crop reports were
not favorable.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Frt.
cts_ 61
60% 60% 61
61
61
61
61 % 61 % 61%
61% 61
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
July delivery in elevator
cts_ 48
49% 50 % 50% 50% 5114
September delivery in elevator_ _ _ _ 41
41 % 42
41 % 41% 41%
Standards
No. 2 white
Closing prices were as follows:
FLOUR.
Winter, low Trades_ ___$4 00®14 25 1 Kansas straights, sacks_$5 25 $5 50
Winter patents
5 90® 6 101 Kansas clears, sacks__ 4 25
4 75
Winter straights
5 35@ 5 601City patents
7 10
6 80
Winter clears
4 75® 5 00IRye flour
5 35
4 70
Spring patents
5 50® 8 001Graham flour
Spring straights
5 00® 5 50'Corn meal, kiln dried
05
0® _42!
4
42
Spring clears
4 85® 5 101Buckwheat, cwt
Nominal
GRAIN
Wheat, per bushel-1, o. b.
Corn, per bushelCents.
N. Spring, No. 1
$1 27
No. 2
elevator
N. Spring, No. 2
1 20 q
Steamer ___elevator
Nominal
Red winter, No. 2
1 21%
No. 3
c.i.f.
83
Hard winter, No. 2
1 21% Rye, per bushelOats, per bushel, newCents.
No. 2 Western
Nominal
Standards
61
State & Pennsylvania
Nominal
No. 2 white
61 14 Barley-Malting
No. 3
60%®61
The statements of the movement of breadstuffs$t1o1n
5m
@$r1ke
25t
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 August 1 for each of the last three years has been:
Receipts atChicago _ _ _
Milwaukee_ _
1)uluth
Minneapolis_
Toledo
Detroit
St. Louis_ _ _
Peoria
Kansas City.
Total wk.'12
Same wk.'11
Same wk.'10
Flour.
Wheat.
Corn.
Oats.
Barley.
Rye.
bbls.19(118s. 5mM.60 lbs. bush. 56 lbs. bush.32 lbs. bush.48lbs bv.56 lbs.
75,733
255,200 1,039,750 1,135,800
124.000
12,000
11,80G
121,900
129,300
199,800
16,200
7,700
22,250
73,865
8,677
886,610
83,500
111,580
05,400
17,146
170,300
40,600
10,500
5,075
2000,
4,300
30,000
43,670
152,602
296,405
350,200
45,855
32,000
213,894
120,800
15,975
4,300
187,200
415,200
56,100
204,385
275,878
308,885
1,710g
..1.:854:040
2,253,509
6,767,911
4.380,291
2,023,457
301,575
4,413,300
498,349
2,946,686 1,142,839
41,940
26,709
71,969
Since Aug. 1
1911-12._ _ 10,936,714 126,588,115 168,421,320 132,097,065 60,405,103 490,698
1910-11_ _ 13,645,623 196,959,558 145,963,528 166,813,577 60,991,209 4,993,848
1909-10_
17,907,931 229,302,006 160.150,088 72.717,865 74.110.784 0.396,577
Total receipts of flour and grain at the seaboard ports for
the week ended June 1 1912 follow:
Receipts atNew York
Boston
Philadelphia
Baltimore
New Orleans *_ _ _ _
Norfolk
Galveston
Mobile
Montreal
Flour,
Wheat,
Ms
bush
148.882 1,498,200
38,435
491,734
21,004
659.409
27,360
549,182
18,290
54,000
1,214
22,000
3,000
42,314 1,821,306
Corn,
' bush
56,250
3,000
24,228
110,422
108,600
Oats,
bush,
391,925
37,539
156,944
435,389
48,000
Barley,
bush.
30,707
Rye,
bush.
7,000
Indian corn has latterly advanced somewhat, owing to
14,000
reports that the germination was poor and that much
6,500
709,716
30,635
replanting has been necessary. The country offerings, too, Total week 1912.. 300,499 5,005,921 330,000 1,829,513 61,342
have been light. At other times prices have given way Since Jan. 11012..7,296,589 44,164.884 22,567,936 17,317,7993,084,394 260,682
Week 1911
'125,990 1,188,036 1,090.076 1,272.678
86,045
8,683
under reports of fine weather at the West and heavy liquida- SineeJan.1
1911_7,856,392 26,327,528 41,069,891 20,800,300 2400,107 289,326
tion, together with a certain sympathy with wheat when
The exports from the several seaboard ports for the week
that grain has reacted. Like wheat, corn is largely domin- ending June 1 are shown in the annexed statement:
ated by weather reports. On the set-backs very prominent
Wheal,
Corn, Flour;
Oats,
Rye, Peas, Barley,
interests at Chicago have covered shorts on a large scale,
Exportsfrombush,
bush.
blds.
bush.
bush,
bush.
bush.
1151,081
17,649 85,183
86,555
being uneasy, owing to the slow germination, the necessity New York
Boston
363.002
35,723
1,476
of replanting large areas and the smallness of the country Philadelphia
_ _ 666,000
1,000 16,000
50,000
offerings. To-day, prices advanced. Cash quotations at Baltimore
581.084
1,827
New Orleans _ _
1,500
93,000
7,733
300
SO
Chicago rose 3 to lc. Kansas City prices were notably Galveston
5,361
strong,with no offerings from the country. Cool weather Mobile
14,000 3,000
Montreal
914,000
32,000 343,000
at the West excited comment, especially as the bulls claim
that the season is late. On the rise, however, leading
Total week_ _ _3,676,667 125,649 188,051 481,331
80
1911
2,051,731 711,358 273,437 449,000
916
interests were good sellers. Shipping sales at Chicago Week
The destination of these exports for the week and since
were 100,000 bushels. There was considerable covering
of shorts, but later on prices reacted with wheat. The July 1 1911 is as below:
weather is one of the principal factors at the present time.
neat--Flour--Corn-.-DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
Cash corn
cts_nom. nom. nom. nom. nom. nom.
May delivery in elevator
nom. nom. nom nom nom. nom.
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
July delivery in elevator
cts_ 72% 72% 74
73% 74
74%
September delivery in elevator_ _ _ _ 71 % 72
72% 72% 72
73
Since
Since
Week
July 1
Week
July 1
Exportsjor week and June 1.
June 1.
1911.
1911.
Since July hobush.
Mts.
Ms.
bush.
United Kingdom_ __137,974 4,407,428 1,970,250 52,537,034
Continent
15,390 1,712,766 1,698,882 36,706,072
Sou. & Cent. Amer. 11,632 1,076,184
7,535
828,282
West Indies
21,783 1,193,496
19,094
Brit. Nor. Am.Cols.
693
44,460
Other Countries_ _ _ _
522 206,185
23,000
Week
June 1
bush.
1,000
74,000
49,707
Since
July 1
1911.
.
hush
13,041,771
16,540,249
1,138,044
1,840,892
16,283
34,300
942
Oats have been irregular, but of late have shown a tenTotal
183,054 8,735,519 3,676,667 90,113,482 125.649 32,617,599
dency to advance in price. Half the stock at Chicago is Total
1910-11
273,437 8,485,986 2,051,731 51,479,217 711,353 47,15,037
under contract to be shipped out. The available supply deThe world's shipments of wheat and corn for the week
creased for the week 1,500,000 bushels, as against an increase in the same time last year of 670,000 bushels. The ending June 1 1912 and since July 1 1911 and 1910 are shown
total is now about 2,000,000 bushels smaller than a year ago. in the following:
Enormous cash sales have been made in Chicago, partly at an
Wheal.
Corn.
advance in prices. The leading Chicago 141 leaves shortly
Exports.
1911-12.
1910-11.
1910-11.
1911-12.
for Europe. At the same time, the big shorts have covered
----Week
on a scale that has attracted attention. The crop reports on
Since
Since
Since
Week
Since
June 1.
July 1.
July 1.
July 1.
June 1.
July I.
the whole, have been favorable. The condition is said to be
-90%, against 85.7% a year ago. The crop is estimated by
Bushel'.
Bushes. Bushels.
Bushels. Busbets.
North Amer. 4,696,000 167,396,000 120,945,000
214110,30.00
private statisticians as 1,100,000,000 bushels, or 175,000,000 RUSSift
406,000 72,384,000 205,552,000 391,000
more than last year. Buying by commission houses has been Danube
200,000 70,723.000 85,042,000 ,9
7:000 1g311:28
786
79,570,000 82,290,001) 3 5 000 17,674,000 18 797,
heavy. Many are looking for an advance despite the big hay Australia _._ 2,296,000
840,000 41,820,000 53,208,000
crop, some increase in the crop of oats also, and despite the India
1,312,000 41,900,000 44,588,000
fact, too, that the. price of cash oats here is some 17 cents a 0th. countr's 128,000 10,433,000 7,430,000
bushel higher than a year ago. Farm reserves are low, the
Total__ 0.968,000 494,232,000 599,105,000 5,191,000 161,028,000 188,702,000
1577
THE CHRONICLE
JUNE 8 1912.]
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Corn.
Wheat.
United
Kingdom. Continent.
Total.
Bushels. Bushels. Bushels.
56,192,000
June 11012.. 31,368.000 24,824,000 60,080,000
May 25 1912_ 31,296,000 28,784,000
58,872,000
June 3 1911_ 25,680,000 33,192,000 43,600,000
June 2 1910_ 31,680,000 11,020.000
United
Kingdom. Continent.
Bushels.
8,645,000
7,225,000
4,701,000
4,420,000
Total.
Bushels. Bushels.
14,416,000 23,061,000
12,767,000 10,902,000
5,134,000 9,835,000
2.805,000 7,225,000
-----1912
Since
Week. Jan. 1.
2,467
111
897
161
41,498
10,824
1,625
29,866
1,153
10,509
1,044
22,955
200
1,523
47
9,238
192
33,187
324
31,190
1,050
New York to June 1Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other countries
5,907
Total
104,154
-----1911
Since
Week. Jan. 1.
3
377
4
463
35,102
4,900
2
13,205
1,679
10,218
783
3,851
17,375
544
1,006
32
7,957
206
26,520
73
17,466
766
8,992
133,540
• •1161 CINV ZT6T I
136
OZV2111.
Z9
2,66.
6917.
0891ZVI9
179VOLI••29
sliodtui moj,
The value of these New York exports since Jan. 1 has been
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and $12,766,721 in 1912, against $9,934,386 in 1911.
seaboard ports June 1 1912, was as follows:
Domestic cotton markets have run into a quiet period
UNITED STATES GRAIN STOCKS.
and activity is not looked forward to until after midAmer. Bonded Amer. Amer. Bonded Amer. Amer. Bonded summer. Jobbers generally report a good advance business
Wheat. Wheat. Corn. Oats. Oats. Rye. Barley. Barley.
bush. tush, bush, bush. bush. bush. bush. bush. for fall delivery, however, with requests that goods shall be
In Thousands18
11
107
46
335
107 1,338
shipped promptly when due. Prices hold about steady, and
New York
1
3
20
13
1
238
Boston
:::: many express the opinion that they will continue to do so,
80
39
3
870
1
Philadelphia
411 --i§
120
378
600
206
even though the current quiet goes on, claiming that the
Baltimore
116
99
____
48
New Orleans
goods purchased are bought for consumption and not on
6
55
Galveston
-660 --ei -iiii -i.o' • speculation. Many jobbers had expected that after the
201
-i'i
.6
1,017 -66
Buffalo
5 ---52 -__
83
571, ____
Toledo
Government report on the new cotton crop had been pub19
__ _.
169
98
279 -.-Detroit
124 -54
lished cotton goods prices would decline, but so far these
____ 2,582 3,853 ____
10,903
Chicago
24
34
189
244
146
Milwaukee
are
6 -68 expectations have not materialized. Bleached cottons
33
118 1-,iii
4,257 1-,egi
Duluth
291
202
held steady, with little new business reported for spot ship36
____
334
10,579
Minneapolis
17
1
121
336
287 - _ __
St. Louts
ment. Dress ginghams, while quiet and in less demand, are
--_
___ _
921
84
387
Kansas City
sold fairly well ahead. Heavy colored cottons remain about
5 --- ___
1
155
67
Peoria
211
38
___
118
Indianapolis
unchanged, while heavy drills and nearly all varieties of duck
-.2.2 -56
215
830
__
674
Omaha
are so well ordered that they are little affected by the present
22
___.
829
•
On Lakes
--10
--------208 ---199
quiet of the market. Print cloths and convertibles are
On Canal and River__ _
-287 quiet, recent concessions failing to stimulate trade to any
571
544
Total June 1 1912._30,847 6,696 5,639 8,052 2,615
172 great extent. The principal selling is mostly between second
848
660
Total May 25 1912..32,226 5,613 6,797 8,690 2,389
936
32
_
___ 4,684 8,678
Total June 3 1911_ _26,875
hands, as the quantities purchased are generally small.
496 1,807
____ 5,471 6,666
Total June 4 1910.A8,647
Gray goods, 38M-inch standard, are quoted at 5c.
CANADIAN GRAIN STOCKS.
Canadian Bonded
Canadian Bonded
Canadian Bonded
WOOLEN GOODS.-Trading in men's wear and dress
Barley.
Barley.
Rye.
Oats.
Oats.
Wheat.
Corn.
Wheat.
bsh. bush
goods markets has been less active during the week, with
sh
bush.
bush, bush. bush
In Thousands___ _
440 ------------- 49
____
4
822
Montreal
mills well booked ahead and jobbers in receipt of good orders
5,087 -- ____ 1,353
Fort William
from the retail trade for fall delivery. A number of spring
_ 1,116
2,742 -__
Port Arthur
-___ 2.937
_4,299
Other Canadian
lines of men's wear has been opened during the week and
___ _
advances have been named. The higher prices had been
49
4 5,872
Total June 1 1912_ _12,950
44
1 6,969
Total May 25 1912..16,029
looked forward to, however, as the increased cost of wool,
32
306 5,663
Total June 3 1911.. 5,674
both in domestic markets and abroad, must be provided for.
140
822
126
Total June 4 1910_ 5,961
SUMMARY.
FOREIGN DRY GOODS.-Linen prices continue their
Bonded
Bonded
Bonded
with the demand increasing, particularly
Wheat. Wheat. Corn. Oats. Oats. Rye. Barley. Barley. upward tendency,
bush. bush, bush. bush. bush. bush. bush. bush. for goods for late delivery. New price lists are being preIn Thousands280
571
544
30,847 5,696 5,699 8,052 2,015
American
49 .5.- pared, many old ones having been withdrawn. House____
4 5,872
____
12,950
Canadian
keeping goods of all descriptions continue in active demand,
287
620
.544
Total June 1 191243,797 5,096 5,703 13,924 2,015
same being true of colored dress linens. Burlaps have
the
172
892
560
2,389
15,653
5,798
5,643
1912__48,255
Total May 25
968
32
ruled quiet and weak. Sellers have offered concessions in
___
- 4,990 14,341
Total June 3 1911..32,549
496 1,953
5,597 7.488
Total June 4 1910.24.608
order to stimulate trade, but were unsuccessful in bringing
out any great amount of new business. Light-weights are
quoted at 5.55c. and 103. -ounce at 6.75c.
THE DRY GOODS TRADE.
Importations and Warehouse Withdrawals of Dry Goods.
New York, Friday Night, June 7 1912.
Dry goods markets during the past week have been more
ceiPE?.g
.11
or less in a state of readjustment, with attention centering
ga P
C)
O 14 0
0
hand.
under
already
business
of
disposition
the
upon
chiefly
0
retailers
a
New business is restrained by the poor season which
Si
are experiencing and the backwardness of mills in making
deliveries already overdue. Merchants, however, look for
18
much improvement during the coming month and hope to
18
recover the losses during May. In the jobbing end of the
cotton goods trade mail orders are steadily increasing, but
N..
ec, .414
0
t
W4.0.
00.0.
W.
CAW.
02.1
as yet they are coming chiefly from small retailers whose In
C4021440
...4 C> en
en 0,D .1.1OWN
000.10
CJ C4 00 4, 4,
CO 00.100.
40
(
•
stocks were exceedingly low. Jobbers are, however, not
0
FA
FA
paying much attention to their future requirements and are
:P. 4
largely engaged in picking up spots here and there and obCs
WC.CACW
WV
0
Cs
OA
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•
taining deliveries of goods which are overdue. Mills are 0
g•
.616.6.
..Cs
is
•
CA C4 0 CA 0
Ca
W
also busy getting out orders as they fall due and are paying 00 .4
Cs ,
t4
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Cs
little or no attention to the securing of new business. They
Cs
is
N.
N.
.
are in most cases booked through August and feel that they e:
C.3
W. m
CA
as
Co 4. is .
.000*
Cs
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can afford to wait rather than take up new contracts which
C4
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is.
I• n.
4
42
is
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is
CA
.0
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UCtOCAC:,
offered
at
slight recessions. They are also skeptical -4 ,
are being
C4 is Ca .4
4 C4
g is
OD IS no ,
OCOCRA
4
about accepting new business for delivery beyond August at
4.
Cs
4.
a
present offers until further progression into the new cotton- is CON
C OWNW0
so ha .0.0.
edr,o 00WWWW
crop period enables them to form a clearer idea of the future is *COW
OC
.4 0 Ca .4 co
0.04,W
.10
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A. 42
are
raw
Buyers
material.
also not overwilling to
M.
cost of
"co
Cs
as airs
lo*-4:c.7... co is
CA•40.10
against
.4
requirements
.A
their
is .4 C> Co is
cover
beyond August, as they
CO CACACAN
0 is
4. 00 42 00 C>
seem to have confidence in a revision of prices before that
time. Aside from a few additional orders from India for
to
is
CA
OW
0 .
.
40
• Cs en ca
0 Ca Is CO is
drills for August delivery, the export market is at a stand- as
Win .
.4
CA CA 4,.4 CD
ta co C4 .4
OtsACs.3
Cs A
Ca ta
4
,
CD
C
00 0
still. The quietness of the previous week still continues in as O. .4 .4 en oo
print cloths, with the exception of a few small orders, where .4
prices are attractive. A slightly easier tendency is noted in C4 is CA .4 42 C 00
is
N▪ O
VN
42 is ha .4
cotton yarns, but buyers have as yet refused to cover future is
3.
0
02Cs
Cs
Co W .
"
still
confining
are
is
their
00
as
needs and
OON
purchases to immediate
C2 .4 as 00 00
.
c> ca en
CA
.
Ci
requirements. In the dress goods markets buyers have CA 0. c> is
is
N.
about completed their fall duplicating and demand has Cs is
NU C..
('4
is .3 C. C. C. FA
0
-40A00
111:,
WO .4.400
00 CA Co a. is co
slackened off during the week. Dress goods mills are also as 00 .
isA
ao. O
14
44
00 A.
.
42
.
no 0 42 CD CO A. 42
is ea ea co 0
no CA OD CO CA
unwilling to accept business beyond September while the Cs
ha 42 4D Co
CA CA
42 .4 no Ca
Cs C4 CA CM 000
yarn situation continues so unsatisfactory.
4.
A.
F
WW
C.
ea.zacovca
DOMESTIC COTTON GOODS.-The exports of cotton
000
110.
"to00 -cal4.
to
a. Co
goods from this port for the week ending June 1 were 5,907
A.4
• t4
WO
packages, valued at $299,223, their destination being to the
-is
:PO
M'coMWW
N4o.
NO
P..0 ci 4. ca
.
points specified in the table below:
OW
00
VOOON
.1578
THE CHRONICLE
STAir I%fl
[VoL. Lxxxxiv.
resenting holders of outstanding "Baby Bonds," have peti-
tioned the General Assembly to appoint a joint committee
CiiiD4r9ITMENT, to
confer with the firm with a view to effecting a compromise
settlement. The petition, according to the New Orleans.
"Picayune," says in part:
The Thranitte.
The positiqn which these bondholders take, under an
by us to a New York banker two years ago, is that, whileopinion rendered
bonds are
not a primary debt of the State, yet the financial history of these
State shows.
that part of the funds and taxes pledged to their payment,the
Terms of Subscription—Payable in Advance
under our view
of
the
law,
have
been
diverted
Into
other channels, and that the State ought
For One Year
$10 00
to account to the bondholders for all such sums and also for
For Six Months
6 00
Into "baby bonds" of judgments against the Louisiana Statethe funding
European Subscription (including postage)
University
13 00
for
which
there
never
was any shred of legal warrant. Our clients are
European Subscription six months (including postage)
7 50
willing to remit all interest and to take for the face of their bonds
Annual Subscription in London (including pestage)
such per22 148. centage as the accounting asked for will show.
Six Months Subscription in London (including postage)
21 118.
Under an opinion of the Attorney-General of the State of New York,
Canadian Subscription (including postage)
$11 50
these "baby bonds" arc declared to be debts of the State; the State is declared to be In default thereon, and consequently State bonds and the New
Subscription includes following Supplements—
Dock Board bonds cannot be bought for investment by the savings
BARK AND QUOTATION(monthly) I RAILWAY AND INDUSTRIAL(3 times yearly) Orleans
banks of that State. This is a tremendous handicap on the power of the
RAILWAY EARNINGS(monthly)
ELECTRIC RAILWAY(3 times yearly)
State to fund her debt due Jan. 1 1914, and is being severely felt by all the
STATE AND CITY (semi-annually) BANKERS'CONVENTION (yearly)
financial friends of the State.
As for ourselves and our clients, we deny the proposition that these bonds
Terms of Advertising—Per Inch Space
are debts of the State; but this
does not affect the opinion of the
Transient matter per inch apace(14 agate lines)
$4 20 Attorney-General of New York. We understand that Mr. It. B. Milling
Two Months
(8 times)
22 00 has given an opinion agreeing with that of the New York Attorney-General.
rE;
rillMonths
/14er
We place the claims of our clients against the State on facts which are
(13 ti
20 00
Standing Business Cards
mes)onth
(28 times)
50 00 not disputed, and appeal to the State's sense of equity and justice to heed
Twelve Months(52 times)
87 00 their application for relief.
We feel confident that any adjustment reached by us and the State
CHICAGO 0imieg—Geo.M.Shepherd,513 Monadnock Block;Tel.Harrison 4012.
be acquiesced in by the holders of all outstanding valid "baby bonds." will
LONDON OFFIcz—Edwards & Smith, 1 Drapers' Gardens, E. C.
PUBLISHED WEEKLY.
Nampa, Canyon County, Idaho.—Bonds Declared Valid.—
On May 24 the State Supreme Court affirmed the judgment
of the lower Court in the case of John S. Hickey et al. vs.
the City of Nampa validating the issue of $37,000 funding
MUNICIPAL BOND SALES IN MAY.
That the aggregate of municipal bonds sold in May is far bonds awarded last September to E. H. Rollins & Sons of
Chicago (V. 93, p. 825).
in excess of any monthly output previously recorded is due
It was contended by Mr. Hickey that the indebtedness Incurred by the
to the fact that large amounts of new securities were issued issuance of the warrants which was sought to be funded exceeded the annual
Income and revenue provided for by the city of Nampa in the year In which
by som`6 of our principal cities. Fewer places sold bonds such indebtedness was incurred; that the indebtedness was created without
assent of two-thirds of the qualified electors of the city; that no prolast month than in most of the months preceding, the total the
vision was made at the time of incurring such Indebtedness for the collection of an annual tax sufficient to pay tile interest and providing a sinking
being only 292, compared with 408 places issuing bonds last fund
to meet the indebtedness; that the indebtedness was not contracted
year in May. The total of permanent bonds disposed of for ordinary and necessary expenses as authorized
by the general laws of
the State; and that no necessity existed for the expenditure evidenced by
was $97,115,286, of which more than 85 millions consists of the warrants sought to be funded.
. The Court finds that "under the provisions of Section 2270 of the Revised.
about twenty large issues, including, of course, the $65,- Codes,
a city council is authorized by a two-thirds vote to incur an indebt000,000 4Yis sold by New York City on May 7. Some of edness which will exceed the annual appropriation made for current and
necessary expenses, where such expenditure is rendered necessary by casthe other large issues included in our list of sales are as fol- ualty or accident, In order to repair any municipal improvement or property.
Where a city owns a water-works system or fire-fighting apparatus, and
lows: $7,600,000 (2 issues) 4s of Omaha, Neb.; $1,871,000 a fire
occurs, and in attempting to control and extinguish the same the
water-works system and other property of the city Is so damaged as to
43s of Pittsburgh, Pa.; $1,725,000 4s of Cleveland, Ohio; render
It of no further practical value for lire protection, the city council
$1,588,708 43s of Buffalo, N. Y.; $605,000 4s of Chicago, has authority, under the provisions of the aforementioned section,
to issue
warrants for the repair and Improvement thereof, where the same is done
Ill.; $600,000 4s of the State of Rhode Island; $550,000 43s in good faith for an actual necessity which confronts the municipality.
Section
of
3
proviso
"The
of Article 8 of the Constitution,'that this secof Chattanooga, Tenn.; $500,000 4s of Lawrence, Mass.; tion
shall not be construed to apply to the ordinary and necessary expenses
by the general laws of the State, may properly be construed
$446,000 43is of Albany, N. Y.;'$365,000 44 of Milwaukee, authorized
by the Legislature to athorize the law-making body to include within the
Wis.; $355,000 4s and $10,588 4 Ms of Minneapolis, Minn., term 'ordinary and necessary expenses'any expenditure rendered necessary
by casualty or accident which has impaired or injured municipal property
and $394,000 4s and $3,200 4s of Dayton, Ohio.
that is necessary for the protection of the city against fires or for the health
and welfare of the city.
There were also put out in May,in addition to the $97,115,"Under the provisions of subdivisions 4 and 8 of Section 2315 of the Revised Codes, a city council has the right and authority to authorize and
286 permanent loans referred to above, $22,259,284 tempo- issue
municipal coupon bonds for the funding or refunding
outstanding
rary obligations and $2,340,323 Canadian debentures. In warrants and indebtedness without submitting the questionofto
a vote of
the people where the funding or refunding of such outstanding indebtedthe following we furnish a comparison of all the various forms ness will be to the profit anti benefit of the city."
of obligations put out in May of the last five years:
New River Drainage District, La.—Drainage Tax Upheld.
1912.
1911.
1910.
1909.
1908.
—Reportsfrom Donaldsonville state that in a decision rendered
S
$
$
Permanent loans(U. S.). 97,115,286 33,765,245 18,767,754 27,597,869 25,130,431 May 30 Judge Paul Leche of the District Court upheld a
Temporary loans(U.S.). 22,259,284 12,591,697 36,211,785 8,081,827 42,659,690 tax authorized at an election held Aug. 1 1911 to be
levied
Canadian loans (perm't). 2,340,323 10,287,092 28,856,569 8,589,440 1,885,541
for a period of 40 years to secure a bond issue of $175,000.
Bonds of U. S. Posses'ns
1,000,000
Judge Leche held, it is said, that with the deduction of
Total
121,714,893 56,644,034 83.836,108 45,269,136 69,825,662
illegal votes cast in favor of the tax and the addition of legal
The number of municipalities emitting permanent bonds voters deprived of their privilege on the clay of election,
and the number of separate issues made during May 1912 there was still a majority of one in favor of the tax, as well
were 292 and 366, respectively. This contrasts with 341 as a majority in amount of assessment.
and 430 for April 1912 and with 408 and 557 for May 1911.
Sullivan County, Tenn.—Litigation.--A friendly suit has
For comparative purposes we add the following table, been instituted in the Circuit Court at Blountville by J. A.
showing the aggregates of long-term issues for May and the Brown et al. to test the legality of the $200,000 road bonds
referred to in V. 94, p. 1206.
five months for a series of years:
Month of
For the
Month of
Texas.—Supreme Court Denies Motion for Mandamus to
For the
May.
Five Mos.
May.
Five Mos.
597,115,286 $194,935,203 1901
1912
$14,562,340 $47,754,962 Compel Approval of Aransas Pass Bonds.—The Texas Su33,765,215 195,791,553 1900
1911
9,623,264 58,373,539 preme Court on May 30 denied the motion of the city of
18,767,754 143,476,335 1899
1910
7,897,642 33,996,634
file petition for writ of mandamus
27,597,869 145,000,867 1898
1909
7,036,926 34,373,622 Aransas Pass for leave to
25,280,431 137,476,515 1897
1908
8,258,927 56.890,312 seeking to compel the Attorney-General to approve for
15,722,338 93,957,403 1896
1907
10,712,538 30,384,656 registration an issue of $10,000 street-improvement bonds.
14,895,937 80,651,623 1895
1906
11,587,766 41,084,172
1905
14,349,410 50,067,615 No reasons accompanied the Court's refusal. According to
16,569,066 92,706,300 1894
1904
55,110,016 113,443,246 1893
4,093,969 30.774,180 the Houston "Post," the motion predicated a test of the
14,846,227 62,649,815 1892
1903
7,856,860 36,844,291
"Commission Government Incorporation Act" of the 31st
1902
20,956,404 59,211,223
Owing to the crowded condition of our columns, we are Legislature under which cities of less than 10,000 population.
charter without recourse to legisobliged to omit this week the customary table showing the might adopt a commission
lative enactment in special instances. The Attorneymonth's bond sales in detail. It will be given later.
General's department, it is said, has long refused to approve
bond issues voted by cities incorporating under this Act,
contending that the statute itself is vague, indefinite, silent
News Items.
as to the bond-issuing ability of cities incorporated there. F_Hudson County (P. 0. Jersey City), N. J.—Voters Favor under, and several other objections. In consequence the
Smaller Board of Chosen Freeholders.—We stated last week department has returned bond records emanating from
that the voters had on May 28 accepted the Strong Act cities of this class. There have been upward of ten such
reducing the Board of Chosen Freeholders from 31 members issues rejected within the past six months.
to 9. It now appears that the Act accepted was what is
Wilmington, Del.—Voters Reject New Charter.—An elecknown as the "Fielder Act," (P. L. 1912, p. 228), which,
while similar to the Strong Act, is applicable only to counties tion held June 1 resulted, it is stated, in the rejection, by a
of the first class. See "State and City Section" for May 25 vote of 997 "for" to 7,670 "against", of a new city charter.
The proposed charter provided, it is said, for the abolition of the present
1912, p. 63. The vote, according to local papers, was City
Council and the several commissions having charge of the city govern25,970 to 10,836.
ment. The Council has 12 members, one from each ward. Tho new charter provided for the substitution of a council of 0 members each to be elected
Louisiana.—Legislatu
Asked
Appoint
re
to
Joint
•
Committee for four years. Tile creation of a board of administration of 5 members
by the Council, with a general superintendent at Its head, was stipulated.
,for Adjustment of Claims of Holders of "Baby Bonds."—The This
board was to have had charge of all the municipal departments. A
Goldsborough
Farrar,
Jonas,
&
Goldberg, rep- board of civil service also
law firm of
was provided for.
WILLIAM B. DANA COMPANY, Publishers,
P.0. Box 958.
Front, Pine and Depeyster Suf.,
New York,
THE CHRONICLE
JUNE 8 1912.]
Bond Calls and Redemptions.
Bolivia (Republic of).-Bonds Drawn for Payment.-The
following coupon bonds of the £500,000 external 6% loan
were drawn Jan. 2 at the office of J. P. Morgan & Co., New
York, for payment July 1 1912 at that office or at the office
of Morgan, Grenfell & Co. in London, England:
Nos. 137, 138, 167, 220, 291, 438, 441, 474, 722, 812, 909, 968, 1162,
1283, 1342, 1378, 1424, 1499, 1551, 1628, 1648, 1746, 1017, 1994, 1997,
2088, 2401, 2487.
Covington, Ky.-Bond Call.-Call is made for payment
Aug. 1 1912 of the $400,000 5% coup. bonds dated Aug. 1
1880. Bonds will be redeemed at the city depository. (See
offering of new bonds on a subsequent page.)
Glasgow Graded Common School District No. 83 (P. 0.
Glasgow), Barren County, Ky.-Bond Call.-Bonds of this
district numbered 2, 3, 5, 10, 13, 16, 17, 29, 38, 48, 58, 65
and 85 are called for payment by the District Treasurer at
the First National Bank of Glasgow. Int. will cease June 1
1 12.
Hamilton County (P. 0. Cincinnati), Ohio.-Bond Call.On June 4 $15,000 4% Platting bonds Nos. 1 to 30, inclusive,
were called for payment at the County Treasurer's office.
Denom. $500. Date June 4 1892. Due June 4 1922,
optional after June 4 1912.
Marion County (P. 0. Marion), Kan.-Bond Call.-Payment will be made July 1 at the Fidelity Trust Co. in Kansas
City, Mo., or at the fiscal agency of the State in N. Y., of
all bonds due July 1 1922, opt. after July 11912, and those
dated May 11890, due May 1 1920, opt. after May 11910.
Mt. Pleasant, Bates County, Mo.-Bond Call.-Call was
made June 1 for 4 2% railroad bonds Nos. 55 to 61 incl. of
$1,000 each. Date June 1 1897. Due June 1 1917; opt.
after 1902. Payment will be made at the State National
Bank of St. Louis.
• Tacoma, Wash.-Bond Call.-The following bonds are
called for payment:
DistrictLocal Improvement
Local Improvement
Local Improvement
Local Improvement
Local Improvement
Local Improvement
Local Improvement
Local Improvement
Local Improvement
District
District
District
District
District
District
District
District
District
No. 416
No. 390
No. 167
No. 168
No. 728
No. 778
No. 672
No. 187
No. 706
No. of Bonds.
48 to 79 inclusive
60 to 66 inclusive
81 to 95 inclusive
59 to 71 inclusive
1 to 17 inclusive
1 to 12 inclusive
14 to 21 inclusive
29 to 55 inclusive
12 to 20 inclusive
Int. Ceases.
May 21 1912
May 23 1912
May 23 1912
May 23 1912
May 24 1912
May 24 1912
May 25 1012
May 25 1912
May 27 1912
Bond Proposals and Negotiations this weak
lave been as follows:
ALABAMA.-Temporary Loan.-A loan of $600,000 to meet the June
distribution of the Common School Fund has been negotiated, it is stated,
with Kidder, Peabody & Co. of New York and Boston.
ALBION, Orleans County. N. Y.-Bonds Voted.-An issue of $130,000
5-30-yr. (serial) bonds was authorized at an election held May 31, it is
stated, for the construction of a municipal water-works-plant. The vote
is given as 142 "for" to 21 "against". The bonds are to bear interest at
not exceeding 5%.
• ALDEN. Hardin County, Iowa.-Bond Sale.-T. J. Birdsall of this city
has been awarded, It is stated, an issue of $6,000 water-main bonds.
ALHAMBRA, Los Angeles County, Cal.-Bonds Proposed.-Thls city,
according to reports, is considering the issuance of $100,000 lire-protection
bonds.
•
ALLEGHF.NY COUNTY (P. 0. Pittsburgh), Pa.-Bond Sale.-The
County Sinking Fund has purchased, it is stated, the 4% reg. road bond
issue amounting to $500,000 (V. 94, p. 1202).
ALLIANCE, Stark County, Ohio.-Bond Sale.-The following bids were
received, it is stated, for the five issues of bonds offered on May 31 (V. 94,
p. 1337), aggregating *46,900.
$4,000 $3,400 $7,800 $15,400 $16,300
. . .
5%
5%
434% 4%
• • •
4;4%
. .
.. .
issue.
issue.
issue.
issue.
issue
.
•
Tillot. & Wolcott Co.,Clev.4,215 30 3,583 66 8,193 70 15,712 94 16,630 93
Barto, Scott & Co., Colum.4,212 00 3,561 50 8,150,00 15,713 00 16,587 00
Stacy & Braun, Toledo_ _ _4,223 00 3,581 48 8,203 00 15,722 00 16,661 20
Hayden, Miller & Co., Clev.4,200 00 3,570 00 8,160 00 15,665 00 16,580 00
First Nat. Bank, Cleve_ __4,244 50 3,607 00 8,276 75 15,690 25 16,507 00
Mayer,Deppe&Walter,Cin.4,218 80 3,585 98 8,192 73 15,669 50 16,585 00
Davies-Bertram Co, Cin__4,215 00 3,580 00 8,208 00 15,671 00 16,604 00
Seasongood & Mayer, Cin_4,189 00 3,559 00 8,136 00 15,679 00 16,602 25
15,651 50 16,586 80
Sec Sav.B Ir.& Tr.Co., Clev_
15,652 20 16,569 00
Well, Roth & Co., Cin
15,655 00 16,569 00
Breed & Harrison, Cin
8,170 00 15,682 00 16,300 00
Otis 80 Hough, Cleve
ALTURAS GRAMMAR SCHOOL DISTRICT (P. 0. Alturas), Modoc
County, Cal.-Bonds Voted.-Thls district recently authorized the issuance,
according to reports, of $7,500 additional bldg. bonds by a vote of 165 to 70.
ASBURY PARK, N. Y.-Bond Sale.-On June 3 the $75,000 434%
35-yr. coup. (with priv. of reg.) sewer bonds (V. 94, p. 1461) were awarded
to Kean, Taylor do Co. of N. Y. at 101.701 and int. Other bids follow:
101.281Asbury Park & Ocean Grove
11. M. Grant & Co., N.Y
101.27
Adams & Co., N.Y
101.181 Bank, Asbury Park
ARLINGTON, Hancock County. Ohio.-Bond Sale.-The $2,500 5%
4-8-year (serial) electric-light-plant-impt. bonds offered on June 1 (V. 94,
p. 1337) were awarded, It is stated, to Stacy & Braun of Toledo at 102.656.
ASHDOWN SPECIAL SCHOOL DISTRICT (P. 0. Ashdown), Little
River CountY, Ark.-Bond Sale.-On May 18 $25,000 coup. bonds were
awarded at 6% to J. Gould of Pine Bluff. Denom. $500. Date May 18
1912. Interest semi-annual. Due from 15 to 25 years.
ASHTABULA, Ashtabula County, Ohio.-Bond Offering.-Proposals
will be received until 12 m. July 1 by F. W. Wagner, City And., for $35,000
4% coup. Main St. subway bonds. Auth. Sec. 8890, Gen. Code. Denom.
$500. Date April 1 1912. Int. A. & 0. at office of Treas. Due $3,500
yearly on Oct. 1 from 1912 to 1921 incl. Cert, check on a national bank
(or cash) for $1,000, payable to City Treas., required. Purch. to pay ace. int.
ATASCOSA COUNTY (P.0. Pleasanton), Texas.-Bonds Defeated.-The
election held May 11 resulted in the defeat of the question of issuing the
$60,000 4 54% 20-year court-house bonds (V. 04, p. 1073).
ATHENS TOWNSHIP, Kans.-Bond Election.-This township intends
holding an election, it is stated, to vote on a proposition to issue $8,000 bds.
ATTLEBORO, Bristol County, Mass.-Bond Sale.-On May 17 $35,000
4% school-house bonds were awarded to Estabroolt & Co. of Boston at
100.67. Denom. $5,000. Date May 18 1912. Int. M. & N. Due from
Nov. 18 1912 to 1918 incl.
AUGLAIZE COUNTY (P. 0. Wapakoneta), Ohio.-Bond Sale.-The
$10,000 8% Muddy Creek Ditch Impt. No. 327 bonds offered on June 1
(V 94, p. 1461) were awarded, according to reports, to Breed & Harrison
of Cincinnati at 107 and accrued interest. Due $5,000 Jan. 1 and July 1
1913. • • • • • • • • """
1579
AUGUSTA COUNTY (P. 0. Staunton), Va.-I3ond ElectIon.-An election will be held July 2, reports state, to vote on the question of issuing
$250,000 South River Magisterial District road bonds.
BABYLON UNION FREE SCHOOL DISTRICT NO. 1 (P. 0. Babylon),
Suffolk County, N. Y.-Bond Sale.-On June 4 $35,000 bonds were awarded
to Harris, Forbes & Co. of N. Y.at 100.341 for 4.35s. Other bids follow:
100.277 for 4.35s
Douglas Fenwick & Co., New York
100.16 for 4.35s
Adams & Co., New York
100.132 for 4.40s
Curtis & Sanger, New York
100.049 for 4.40s
Farson, Son & Co., New York
for 4.45s
100
McCurdy, Henderson & Co., New York
Denom. $1,000. Int. J. & D. Date June 1 1912. Due $1,000 yearly
Dec. 1 1913 to 1947 inclusive.
BEE COUNTY (P. 0. Beeville), Texas.-Bond Sale.-AccordIng to reports, the *15,000 5% 5-10-year (opt.) bridge bonds (V. 94. p. 1202) have
1Jeen sold.
BELLEVUE CITY SCHOOL DISTRICT (P. O.Bellevue), Huron Cc Sandusky Counties, Ohio.-Bond Offering.-Proposals will be received until
12 m. June 10 by C. A. Woleslagel, Clerk Board of Education, for $12,000
4
impt. bonds. Auth. Sec. 7629-7630 and 7626-7627, Gen. Code.
Denom.$500. Date June 10 1912. Int. J. & D.at Chase Nat. Bank, New
York. Due $500 yearly from June 10 1913 to 1936 incl. Cert. check for
$200, payable to the Clerk, required.
BEMIDJI SCHOOL DISTRICT (P. 0. Bemidji), Beltrami County, Minn.
-Bond Sate.-On May 31 the $5,000 5% 15-year school-bldg. bonds voted
April 3 (V. 94, p. 1202) were awarded to A. Norris at 103.40-a basis of
about 4.682%. Other bids were received from the Security State Bank in
Bemidji; C. B. Enkema & Co. of Minneapolis; the Commercial Investment
Co. of Duluth and S. A. Kean & Co. of Chicago. Denom. $1,000. Date
June 1 1912. Int. J. & D.
BETHANY, Harrison County, Mo.-Bonds Voted.-An election held
recently resulted, reports state, in favor of the question of issuing $30,000
water and light bonds.
BETTSVILLE SCHOOL DISTRICT (P. 0. Bettsville). Seneca County.
Ohio.-Bond Offering.-Proposals will be received until 12 m. June 27 by
J. E. Bronner, Clerk, for $12,000 434% school bonds. Due in 12 annual
Installments. Certified check for 3% of bonds bid for required.
BILLINGS SCHOOL DISTRICT (P. 0. Billings). Yellowstone County.
Mont.-Bonds Proposed.-This district is considering the issuance of $67,000 school bonds, reports state.
BLACKSHEAR. Pierce County, Oa.-Bond Election.-An election will
be held June 25, it is stated, to vote on the question of issuing $23,000
water-works, $22,000 sewerage-system and $10,000 elec.-light bonds.
BONITA SCHOOL DISTRICT. Stanislaus County, Cal-Bids.-The
other bids received on May 14 for the $35,000 5% school-bldg. bonds
awarded to J. H. Adams & Co. of Los Angeles at 102.241 (V. 94, p. 1461)
were as follows:
Goodwin,Garby &Holton,Inc.$35,6811 First Nat. Bank, Modesto_ _ _$35,311
Denom. $1,000. Date May 14 1912. Int. M. dc N.
BOSTON, Mass.-Bond Sale.-During May $31,000 4% rapid transit
"Cambridge Connection" bonds were purchased with trust funds at par.
Date May 11012. Due May 1 1957.
BOWLES SCHOOL DISTRICT, Fresno County, Cal.-Bonds Voted.
An election held May 15 resulted in favor of the proposition to issue $8,000
6% school-bldg. bonds. There were 18 votes cast, all of which were In
favor of the issue.
BRUNSWICK AND TOPSHAM WATER DISTRICT (P. 0. Brunswick),
Cumberland County. Me.-Bond Offering.-Proposals will be received until
12 in. June 12 by W.It. Lincoln, D. W.Scribner and H.C. Baxter, Trustees,
for $46,000 4% 30-year gold coup. water bonds. Denom. $1,000. Date
July 11912. Int. J. & J. at the Old Colony Trust Co. In Boston. Bonds
are tax-exempt in Maine. No del:08ft required with bid.
BUFFALO, N. Y.-Bond Sales.-During May the following 4 issues of
4% bonds, aggregating $131,941 24 were disposed of at par to the Comptroller for the city's various sinking funds.
AmountPurpose.
Date.
Due.
$115,000 00__Department Instruction__ May 1 1912
July 1 1913
15,000 00_ _ Grade-crossing
May 1 1912
July 1 1913
1,200 00_ _School-Census
May 15 1912
July 1 1913
741 24_ _Local work
May 15 1912
May 15 1913
BURLEY, Cassia County, Idaho.-Bond Sale.-Jas. N. Wright & Co.
of Denver were awarded at 102, we are advised, $44,000 water $20,000
electric-light and $21,000 sewer 1-20-yr. (opt.) bonds.
CALEDONIA. Marion County, Ohio.-Bonds Defeated.--Issues of $6,000
electric-light and $6,000 street-paving bonds were defeated by the voters
at an election held May 21, according to reports.
CALIFORNIA.-Bids R,efected.-Bond Offering.-Reports state that
all bids received for the $1,000,000 4% India Basin bonds offered on May ga
(V. 04, p. 1264) were rejected. It is further stated that proposals are now
asked for these bonds by E. D. Roberts, State Treasurer (P. 0. Sacramento) until July 22.
CALVERT. Robertson County. Texas.-Bonds Voted.-The election
held May 28 resulted in favor of the proposition to issue the *25,000 5%
sewer bonds (V. 94, p. 1398). The vote was 134 to 37.
CAMBRIDGE, Dorchester County. Md.-Bond Sale.-On May 31 the
$20,000 5.% coup. bonds (V. 94, p 1461) were awarded to the Eutaw
Savings Bank of Baltimore at 105.62. Other bids follow:
Baker, Watts & Co., 13alt__ _104.38 Sutton, Struthers & Co.,Balt.101.995
103.09 Dorchester Nat. Bank, Cam
Hambleton & Co., Balt
bridge
W. C. Crawford. Baltimore_ _102.518
101.805.
Date Jan. 1 1912. Interest January and July.
CAMDEN SCHOOL DISTRICT (P. 0. Camden), N. J.-Bond Sale.-On
June 4 $25,000 1-25-year (ser.) reg, school-house bonds were awarded to
Adams & Co. of New York at 100.06 for 4.35s. Denom. $1,000. Date
July 1 1912. Int, annually in November.
CANTON'SCHOOL DISTRICT (P. 0. Canton), Fulton County, HI.
Bonds Defeated.-The 'proposition to issue the $40,000 4 1i% 12-year building bonds was defeated at the election held May 24 (V. 94, p. 1398). The
vote was 79 "for" to 507 "against."
CARRICK, Allegheny County, Pa.-Bond Sale.-The $70,000 434%
tax-free coup. Impt. and sewer bonds offered on June 3 (V. 94. p. 1521)
were awarded to E.S. Wheeler. Due on Nov. 1 as follows: $8,000 in 1916;
$7,000, 1921;$8,000, 1926;$12,000, 1931;$15,000. 1936, and $20,000, 1941.
Other bids were received from Harris, Forbes & Co. of N. Y. the Western Reserve Investment Co., J. S. & W.S. Kuhn, Inc., Lawrence Barnum
& Co. of Pittsburgh, O'Connor & Kehler of N. Y., the Commonwealth
Trust Co. and the Iron & Glass Dollar Savings Bank.
CARTHAGE SCHOOL DISTRICT (P.O. Carthage), Mo.-Bond Election
-An election will be held June 18, It is stated, to authorize a bond issue
of $10,000 for the erection of a school-bldg. at Kendricktown and improve
the Carthage schools.
CASS COUNTY (P. 0. Logansport), Ind.-Bonds Proposed.-Looal papers state that an ordinance passed its first reading at a special session of
the County Council on May 13, providing for the issuance of $40,000 5%
bridge bonds. Due annually from June 1 1913.
CENTRAL CITY SCHOOL DISTRICT (P. 0. Central City), Merrick
County, Neb.-Bond Election.-The voters will be asked to decide on June 8,
it is stated, whether or not they are in favor of issuing $55,000 building
bonds. Due 1937, subject to call after 10 years.
CERES HIGH SCHOOL DISTRICT (P. 0. Ceres). Stanislaus County,
Cal.-Bond Offering -Proposals will be received until July 1 for $35.000
5% building and site bonds. Auth. vote of 266 to 71 on May 23. Int.
semi-ann. Due in from 5 to 23 years. A. Morgan is School Trustee.
CHARLES CITY, Floyd County. lowa.-Bond Election.-A special election will be held in this city, according to reports, to vote on the question of
Issuing $50,000 sewer-extension and municipal-pumping-plant bonds.
CHARLESTON, Coles County, III.-Bond Offering.-Proposals will be
received until 2 p. m. June 10 for the $40,000 5% water-works impt. bonds
voted April 16 (V. 94, p. 1203). Due $2,000 yearly. Cert, check for 2%
of bid, payable to T. T. Shoemaker, Mayor, is required.
CHARLEVOIX COUNTY (P. 0. Charlevoix), Mich.-Bond Election Postponed.-The election which was to have been held June 3 to vote on the
question of issuing $350,000 road bonds (V. 94, p. 1461) was postponed,
owing to an error In the proceedings.
1580
THE CHRONICLE
CHASE CITY, Mecklenburg County, Va.-Bond Offering.-Proposals
will be received until 8 p.m. June 14 by N. H. Williams, Town Treasurer &
Chairman, for $25,000 water and $20,000 sewerage 5% coup. bonds.
Authority Acts of 1908 page 377. Denom. $1,000. Date July 1 1912.
Int. (to run from date of delivery) J. & J. at Town Treas. office. Due
$5,000 July 1 1922; $5,000 July 11927; $5,000 July 1 1932; $10,000 July 1
1937 and $20,000 July 11942. Ccrt. check for 5% of bid, payable to Town
Treas., required. Bonded debt at present, $23,000. Floating debt $2,700.
Assessed val. 1912 (approximately) $608,751. Real val. (est,) $800,000.
CHATFIELD TOWNSHIP, Crawford County, Ohio.-Bond Offering.
Proposals will be received until 12 m. June 29 by S. T. Ciady, Twp. Clerk
(P. 0. Chatfield), for 59,000 5% pike road impt. bonds. Denom. $500.
Date June 15 1912. Int. M. & S. Due $1,500 March 1 1927, $2,000
Sept. 1 1927, $1,500 March 1 1928 and $2,000 on Sept. 1 1928 and 1929.
Cert. check (or cash) for $100, payable to Twp. Treas., required. Bonds
to be delivered at Bucyrus within 10 days from time of award. Purchaster to pay accrued interest.
CHEROKEE COUNTY (P. 0. Tahlequah). Okla.-Bond Election.-The
County Commissioners, according to reports, Intend calling an election
shortly to vote on the question of issuing bonds for county buildings.
CHEYENNE. Roger Mills County, Okla.-Bonds Proposed.-AccordIng
to reports this town proposes issuing $60,000 electric-light, water-works
.and other municipal-improvement bonds.
• CHICAGO. 111.-SOUTH PARK DISTRICT.-Band Offering.-Proposals will be received until 12 m. June 10 by the Commissioners, J. F.
Nell, Secretary, for $500,000 Impt. and $120,000 paving 4% bonds. Denomination $1,000. Cert. check (or cash) for $15,000 on $500,000 Issue
and $3,000 on $120,000 issue, payable to the South Park Commissioners,
is required.
The official notice of this bond offering will be found among the advertisements elsewhere in this Department.
CHRISTOPHER, Franklin County, 111.-Bands Voted.-An election held
recently resulted in favor of the proposition to issue $12,000 school-building
bonds, according to newspaper reports.
[VOL. Lxxxxxv.
CRESCENT TOWNSHIP SCHOOL DISTRICT, Allegheny County, Pa.
Bond Election.-This district will hold an election June 11, it is stated, to
vote on a proposition to issue $27,000 site and building bonds.
CROSS PLAINS, Callahan County. Texas.-Bonds Voted.-According to
reports an election held recently resulted in favor of the question of issuing
$15,000 school-building bonds.
CUBA SCHOOL DISTRICT (P. 0. Cuba), Fulton County, 111.-Bonds
Voted.-By a vote of 220 "for" to 17 "against" this district on May 28
voted, it is stated, to issue $19,000 building bonds.
CULPEPER COUNTY (P. 0. Culpeper), Va.-Bonds Voted.-On
June 17 an order will be entered directing the Board of Supervisors to issue
the $120,000 road-imp!. bonds authorized at the election held April 20
by a vote of 290 to 14.
DEFIANCE, Shelby County, lowa.-Bond Election.-The question of
Issuing $8,000 water-works bonds will be submitted to a vote on June 8.
DEFIANCE COUNTY (P. 0. Defiance), Ohio.-Bond Offering.-Proposals will be received until 2 p. m. June 17 by S. I. Gruner, City Aud., for
the $15,000 4% coup. children's home tax-tree bonds (V. 94, p. 1521).
Auth., Sec. 2334, Gen. Code. Denom. $1,000. Date June 17 1912. Int.
ann. In Sept. at County Treas. office. Due from 1913 to 1927 Incl. Cert.
check for $500, payable to M. A. Costello, County Treas., required.
DONIPHAN COUNTY (P. 0. Troy), Kan.-Band Sale.-On May 27 the
Fidelity Trust Co. of Kansas City, Mo., was awarded at par and Int. for
43
-is the $450,000 12-yr. (ay.) coup. refunding bonds (V. 94, p. 1462).
Other bids follow:
Commerce Trust Co., Kansas City
for 4 Ms
1099
Woodin, McNear & Moore, Chicago
94.50 for 4s
Sutherlin & Co., Kansas City
98.75 for 43.45 and
0.60 for 4 Hs
DUNLAP, Harrison County, Iowa.-Bond Election.-On June 8 the voters will decide whether or not an issue of municipal water-plant bonds shall
be issued.
EAST LIVERPOOL SCHOOL DISTRICT (P. 0. East Liverpool), Columbiana County, Ohio.-Bond Sale.-On June 3 the $135,000 4% building
bonds (V. 94, p. 1399) were awarded to Otis & Hough of Cleveland for
$135,555, making the price 100.411. Other bids follow:
Provident Savings Bank & Trust Co., Cincinnati
$135,287 55
Breed & Harrison and Mayer, Deppe & Walter, Cincinnati_ _ _ _ 135,020 00
Well, Roth & Co. and Davies-Bertram Co., Cincinnati
134,100 00
Interest June and December.
EAST PIKE RUN SCHOOL DISTRICT (P. 0. California), Washington
County, Pa.-Bond Offering.-Proposals will be received until 2 p. m.
June 10 for $14,000 5% coup. tax-free bonds. Denom. $1,000. Int.
semi-ann. Cert. check for $200 required. Thomas J. Pollock is Secretary.
ERIE, Erie County, Pa.-Bond Sale.-Ileports state that an issue of
$10,000 school bonds has been disposed of to a Cleveland company.
ERIE TOWNSHIP, Ottawa County, Ohio,-Bonds Defeated.-An election held May 25 resulted, reports state, in the defeat of the question of
issuing $13,000 school-building bonds.
FINDLAY SCHOOL DISTRICT (P.O. Findlay). Hancock County, Ohio.
-Bonds Not Sold.-According to reports no bids were received by this
district for an issue of $5,500 4% bonds offered on Juno 1. The reports
further state that the bonds will probably be re-offered shortly as 4 Ms.
' FRANKLIN COUNTY (P.O. Brookville), Ind.-Bond Sale.-The $17,000
4% coupon court-house-furniture bonds offered on June 1 (V. 94, p. 1339)
were awarded to Miller de Co. of Indianapolis, according to reports. Duo
$500 each six months from June 1 1913 to Dec. 1 1929 incl.
FRANKLIN COUNTY (P.0. Malone), N. Y.-Bond Sale.-The $200,000
434% 29-48-year (serial) reg. road bonds offered on May 31 (V. 94, p. 1399)
were awarded to Sutro Bros. & Co. of New York at 105.5187 an int.
FRANKLIN COUNTY (P. 0. Columbus), Ohio.-Bond Offering.-Proposals will be received until 12 m.June 27 by the 13d. of Comm., John Scott,
Clerk, for $15,000 4% King Ave. bridge bonds. Auth. Secs. 5643, 5644,
2294 and 2295, Gen. Code. Denom. $1,000. Date duly 1 1912. Int.
J. de J. at office of Treas. Due $5,000 yearly on July 1 from 1923 to 1925
incl. Cert. check on a national bank or trust company in Franklin County
for 2% of bonds bid for, payable to F. M. Sayre, Aud., required. Bonds
to be taken up not later than 5 days after July 1. Purch. to pay acc'd int.
FREMONT. Sandusky County, Ohio.-Bond Offering.-Proposals will
be received until 12 m. July 9 for 810,000 4 M% coupon street-impt. (city's
portion) bonds. Denom. $500. Date July 1 1912. Int. A. & 0. Due
$500 each six months from April 1 1914 to Oct. 11923. Certified check for
$200 is required. Bids must be unconditional.
GILBOA SCHOOL DISTRICT (P. 0. Gilboa), Putnam County, Ohio.
Bond Offering.-Proposals will be received until 6 p. m. June 15 by W.
Wineman, Clerk, for $10,000 5% coupon school-house bonds. Authority
election held May 211912. Denom. $500. Date June 15 1912. Int. J. &
D. at District Treasurer's office. Due yearly on Dec. 15 as follows: $500
from 1913 to 1917, incl.; $1,000 from 1918 to 1924,
l.• and $500 in 1925.
Cert. check for $500, payable to Clerk, required. Bonds
ine' will be delivered
10 days from time of award. Purchaser to pay accrued interest.
GIRARD SCHOOL DISTRICT (P. 0. Girard). Erie County, Pa.-Bond
Sale.-On May 28 $10,000 43-4% coupon tax-free school-building bonds
were awarded to Tillotson & Wolcott Co. of Cleveland at 102.13 and int.
Denom. $250. Date April 15 1912. Int. annually at Treasurer's office.
GLENCOE, Nassau County, N. Y.-Bonds Authorized.-It is reported
that an issue of $150,000 sewer bonds has been authorized.
GLENDALE CITY SCHOOL DISTRICT (P. 0. Glendale), Los Angeles •
County, Ca1.---Bonds Voted.-This district at a recent election authorized
the issuance of $30,000 5% 1-30-yr. (ser.) bonds by a vote of 446 to 217.
GREENSBORO SCHOOL DISTRICT (P. 0. Greensboro), Hale County,
Ala.-Bond Election.-An election will be held June 10, it is stated, to
submit to the voters the question of issuing $12,000 building bonds.
GREENVILLE. Greenville County. So. Caro.-Bond Offering.-Proposals will be received until 9 p. m..inne 25 by G. Frank Leogue, Clerk & Treas.,
for $115,000 street-impt. and $35,000 sewerage-extension 5% 30-year
coupon bonds. Authority, vote of 315 to 8 at election held May 7 1912.
Denom. $1,000. Date July 1 1912. Int. J. & J. at Fourth Nat. Bank.
N. Y. City. Due July 1 1942. Cert. check for 2 4
1 % of amount bid for,
payable to Clerk and Treas., required. Official circular states that the
validity of these bonds has been approved by Messrs. Storey, Thorndike,
Palmer & Dodge of Boston, Mass.
GREENWICH. Fairfield County, Conn.--Bond Sale.-On June 3 the
following bids were received for the $160,000 4 H% 1-32-year (serial) gold
coupon refunding bonds (V. 94, p. 1390):
Spitzer. Itorick & Co., N. Y_'100.79 Ilineks Bros., Bridgeport_ _1100.10
E. H. Rollins & Sons, N. Y_ _100.381A. B. Leach de Co., N. Y_ I
I Harris, Forbes dc Co., N. Y_100.078
CINCINNATI, Ohio.-Bond Sales.-The $250,000 50-year hospital and
$73,000 20-year (city's portion) street-impt. 4% coupon non-taxable bonds
.offered on June 3 (V. 94, p. 1264) were awarded, it is stated, to the FitthThird National Bank of Cincinnati at 103.26 and 103.43. respectively.
It Is also stated that the $199,500 20-40-year (optional) 4% coup. nontaxable water-works bonds offered on the same day (June 3,V.94, p. 1284.)
were awarded to the Western German Bank of Cincinnati at 102.
CLACKAMAS COUNTY SCHOOL DISTRICT NO.86. Ore.-Bond Sale.
On May 20 $20,000 10-20-year (opt.) coup. school-bldg. bonds were awarded
to Morris Bros. of Portland at 101.0875 and Int. for 5 Ms. Other bids
follow: \‘
For 535s.
For 6s.
Morris Bros., Portland_ _ _520,217 50 John Nuveen & Co., Chic_$20,568 00
Merchants' Say. Bank_ _ _ 20,217 00 Hoehier & Cummings, Tol. 20,557 50
-Carstens &Earies,Inc.,Seat. 20,189 00 H. II. Cash
20,486 00
Lumbermen'sNat.Bk.,Port. 20,135 00 James N.Wright&Co.,Denv.20,467 00
-Causey,Foster&Co.,Denv. 20,127 00 Hanchett Bond Co., Chic_ 20,407 00
Union Trust & Say. Co__ _ 20,070 00 E.H.Rollins&Sons,SanFr. 20,300 00
-Smith & Paschall, Seattle_ 20,022 00 Farson, Son & Co., Chic_ _ 20,305 00
•Canby Bank & Trust Co.,
Brand & Stevens, Loa
Canby
20,000 00
Angeles
20,300 32
For 6s.
Blakeley & Co
20,275 00
HenryPratt&Co.,Tacoma $20,909 00 Duke M. Farson, Chicago_ 20,275 00
First Nat. Bank, Cleve__ _ 20,861 00 Spitzer, Rorick de Co_
20,222 75
Denomination $500. Date April 20 1912. Interest semi-annual.
CLALLAM COUNTY SCHOOL DISTRICT NO. 7, Wash.-Bond Sale.On May 18 the $51,200 bonds were awarded to the Citizens' Nat. Bank and
Bank of Clailam County in Port Angeles at par for 5s. Other bids follow:
For 55
For Os
Henry Pratt & Co., Taco.•$51,301 00 S. A. Kean & Co., Chic_ ..$53,083 20
.State of Washington
51.200 00 Un.Tr.&Sav.Bk., Spokane 52,257 84
J. N.Wright & Co., Deny_ 50,181 00 Cutter, May & Co., Chicago51,903 60
Wm. D. Perkins & Co.,
For 53's.
:Carstens & Earles,Inc.,Seat 51,996 00
Seattle
51,250 00
Bolger, Mosser & WillaJ. N. Wright & Co., Deny. 51,227 00
man, Chicago
51,710 00 Woodin, McNear & Moore,
'Union Tr. & Say. Bk., Spok51,619 84
Chicago
51,20000
• This bid appears to be higher than that of the purchaser, but it is so
reported by the County Treasurer.
CLARK COUNTY (P. 0. Athens), Oa.-Bond Sale.-The $200,000 5%
coup. court-house, jail and site-purchase bonds offered on June 4 (V. 94, P.
1338) were awarded to N. W. Halsey & Co., New York, at 104.796 and
accrued interest. Due $7,000 yearly Jan. 1 from 1923 to 1927 incl., $8,000
yrly. Jan. 1 from 1928 to 1932 incl., $10,000 yrly. Jan. 1 from 1933 to 1937
Incl., $15,000 yrly. Jan. 1 from 1938 to 1941 incl. and $15,000 June 30 1942.
CLARKSTON SCHOOL DISTRICT (P. 0. Clarkston), Asotin County,
Wash.-Bonds Voted.-The proposition to issue $16,000 high-school-bldgbonds carried, it is stated, at the election held May 25 by a vote of 40 to 6.
COCHRAN, Pulaski County, Oa.-Bond Offering.-Further details are
at hand relative to the offering of the $20,000 5% gold school bonds (V. 94,
p. 864). Proposals for these bonds will be received until June.20 by T. D.
Walker Sr., Chairman Bd. Corn. Auth. vote of 118 to 5 March 13.
Denom. $1,000. Int. J. & J. at Chase Nat. Bank, N. Y. City, or Cochran
Banking Co. Due 30 years, optional after 5 years. Bonds validated by
Superior Court of Pulaski County on May 1. Cert, cheek for 10% of bid
required. Bonded debt, including this issue, $49,000. Floating debt
$3,000. Assessed val., 1911, $850,000. Official circular states that the
city has never defaulted in payment of either principal or interest on
outstanding bonds; neither has the issues of previous bonds or these been
contested, nor is any litigation pending.
COEUR D'ALENE, Kootenai County, Idaho.-Bonds Defeated.-ProposItIons providing for the Issuance of bonds for a new auditorium, concrete
walks, paving,and for additional fire apparatus, were, it is stated,defeated.
COKE COUNTY (P.0. Robert Lee). Tex.-Bonds Defeated.-Thls county
recently defeated a proposition ot Issue 560,000 road bonds, it is stated, by
a vote of 2 to 1.
COLLEGE PARK SCHOOL DISTRICT, Santa Clara County, Cal.Bond Sale.-On May 20 the $10,000 5% 1-20-year (serial) school bonds
(V.94, p. 1203) were awarded to the Mayfield Bank & Trust Co. In Mayfield
at 102.9175-a basis of about 4.046%. Date May 11912. Int. semi-ann.
COLUMBIA COUNTY (P. 0. Hudson), N. Y.-Bond Offering.-Proposals will be received until 10 a. m. June 20 by E. Washburn Scovill, County
Treasurer, for $56,000 highway and $58,000 refunding 4H% registered
bonds. Denom. $1,000. Date June 1 1912. Int. J. & D. at the County
• This bid, it is stated, was successful.
Treasurer's office in New York exchange. Due $6,000 of each issue June 1
1925 and $10,000 of each issue yearly June 1 1926 to 1930, incl. Bonds are
GRESHAM. Multnotnah County, Ore.-Bonds Voted.-The election held
May
27 resulted, according to reports, in favor of the question of issuing
tax-free in N. Y. Cert. check upon an Incorporated bank or trust company
$5,000 water-system-extension bonds.
for 2% of bonds bid for, payable to the County Treasurer, is required
-Bond Offering.-Proposals will
Purchaser to pay accrued interest. Bonds will be certified as to genuineness beGROVE CITY, Franklin County. Ohio.
received until 12 m. July 1 by Chas. C. Patzer, VII. Clerk, for $1,850 5%
by the Knickerbocker Trust Co. of N. Y., and the validity will be approved Grove City. Pike-assessment bonds. Denom. $185. Date July
1 1912.
by Hawkins, Delafield & Longfellow of N. Y., whose opinion will be fur- Int. J. & J. Due $185 yrly. from 1913 to 1922 incl.
nished to the purchaser.
GROVE CITY, Mercer County, Pa.-Bonds Defeated.-Reports state
The official notice of this bond offering will be found among the advertise- that a proposition to Issue $50,000 school-building bonds failed to carry at
an election held April 30.
ments elsewhere in this Department..
GUEYDAN DRAINAGE DISTRICT, Vermilion Parish. La.-Bond Sale.
COVINGTON, Ky.-Band Offering.-Proposals will be received until -This
district has awarded, it Is stated, an issue of $100,000 bonds to
4 p. m. June 17 by H. G. Klostermann, City Clerk, for the sale of a sufficient number and amount of 4% gold coup. bonds to produce a fund of A. L. Arpin of Grand Rapids, Wis., at par.
HAMPTON SCHOOL DISTRICT (P. 0. Hampton), Hunterdon County.
$281,000 at the price bid to redeem a like amount of outstanding 5% bonds
of the $400,000 issue dated Aug.-! 1880 (see bond call on a preceding page). N. J.-Loan Voted.-Thls district has, according to reports, voted a loan
The new issue will be dated Aug. 1 1912. Denom. (310) $100, (250) $500 of $30,000 for a new school building.
•
and (125) $1,000. Int. F. Fe A. Due Aug. 11952. opt. after July 311942.
HARLAN. Harlan County, Ky.-Band Election.-An election will be
Certified check for $1,000, payable to the 'City of Covington," required.
held June 15, reports state, to vote on the question of issuing $10,000
CRAVEN COUNTY (P. 0. New Bern), N. C.-Bonds Offered by Bankers. school-building bonds.
-Uien & Co. of Chicago are offering to Investors the 510,000 5% refunding
HEMPSTEAD UNION FREE SCHOOL DISTRICT NO. 17, Nassau
bonds offered by this county on March 4 (V. 94, p. 646). Denom. $1,000. County, N. Y.-Bond Sale.-Douglas
Fenwick & Co. of N.Y.were awarded.
Date May 1 1912. Int. M. & N. at Hanover Nat. Bank, New York. Due for $38,576 (100.208) and int.,in April 536,500434% bonds. Denom. (4)
May 1 1927. Total debt, including this issue, $70,000. Assess. val. $1,125 and (32) $1,000. Date April 10 1912. Int. A. & 0. Due 31.125
1911, $10.560,878.
yearly April 1913 to 1918, Incl., and $1,000 yearly April 1917 to 1948, inel
JUNB a 1912.
THE CHRONICLE
1581
- issue the $2,000,000 4% building bonds (V. 94. p. 1340). The vote was
0. Havre), Mont.
HILL COUNTY SCHOOL DISTRICT NO. 16 (P.m.
June 17 by L. K. 3,230 to 664. Due July 1 1932.
Bond Offering.-Proposals will be received until 8 p.
exceeding
not
at
bonds
$23,000
for
KENMORE SCHOOL DISTRICT ( . 0. Kenmore), Summit County.
Devlin, Chairman Board of Trustees,
Int. J. & J. at office of Ohio.-Bond Offerino.-Proposals will be received until 11 a. m. June 25 by
6% int. Denom. $1,000. Date July 1 1912.
for $500, H. G. Lautenslager, Clerk, for the $15,000 5% coupon building bonds vote
Check
1927.
1
July
redeemable
1932;
1
July
Due
Treas.
County
to May 21 1912 (V.94, p.1522). Auth. Secs. 2294, 2295, 7625, 7626 and 7827.
certified by a Havre bank, and payable to Chairman, required. Bidders
Gen, Code. Denom. $1,000. Date, "day of sale." Int. A. & 0. Due
satisfy themselves as to legality of issue before submitting offers.
water
$1,000 yearly on Oct. 1 from 1919 to 1921, incl., and $4,000 yearly on Oct. 1
$15,000
-The
Registered.
HILLSBORO. Hill County, Tex.-Bonds
making
5% 15-40-yr. (opt.) coup. from 1922 to 1924, incl. Cert. check on a bank other than the one
works, $5,000 sewer-ext. and $8,400 funding Dallas
(V. 94, p. 295), have the bid for 5% of bid, payable to Board of Education, required.. Purchaser
bonds awarded OR Jan. 19 to J. B. Oldham of
to
pay
accrued
interest.
fleen registered by the State Comptroller. resulted,reports, state. in favor
LAKEWOOD,Cuyahoga County, Ohio.-Bond Offering.-Proposals will
Bonds Voted.-An election held recently
The vote was 212 to 53.
be received until 12 m. July 1 by B. M. Cook, City Clerk, for the following
of the proposition to issue $40,000 school bonds.
to
bonds:
proposition
-A
Voted.
-Bonds
111.
HOPEDALE. Tazewell County.
by a vote of 106 to 6 on $3,530 5% Carabell Ave. impt. assess. bonds. Denom. 9353.
issue $3,200 light bonds carried, it is reported,
6,350 5% Hilliard Road impt. assess. bonds. Denom. $835.
May 31.
5,740 5% Edanola Ave. Impt. assess. bonds. Denom. $574.
-Bonds Authorized.-The City Council
Tex.
County.
9,940 5% Quail St. impt. assess. bonds. Denom. $994.
Harris
HOUSTON,
the issuance of $100,000 5% 30-year
5% Wayne Ave. impt. assess. bonds. Denom. $918.
9,180
on May 13 authorized, It is stated,1912.
$1,000.
Denom.
10,420 5% Roycroft Ave. Impt. assess. bonds. Denom. $1,042.
street-Impt. bonds. Date May 13
(city's ortion) impt. bonds. Denom. $500.
9,500 4
Iowa.-Bonds Defeated.-The election held
HUMESTON,Wayne County.of
the question of issuing not more than
Date, 'day of sale." Int. semi-ann. at the Cleveland Trust Co. la CleveMay 7 resulted in the defeat
bonds (V. 94, p. 1076), according to land. Due one bond of each issue yearly from Oct. 1 1912, except the
-ereotion
electric-light-plant
$15,000
$9,500 issue, due $500 yearly Oct. 1 1913 to 1922, incl. Cert. check for
reports.
Tex.-Bonds Defeated.-The election 5% of bid is required.
HUNT COUNTY (P.0. Greenville),
Bond Sale.-On June 3 the following premiums were offered for the two
issue
of the proposition to
held May 25 resulted In the defeat, it is stated,
94, p. 1133). The vote was issues of 5% assess, bonds, aggregating $31,736 (V.94. p. 14004
the $400,000 Precinct No. 1 road bonds (V.
$16,250
$15,486
being
necessary.
majority
871 "for" to 513 "against"-a two-thirds
issue.
issue.
H.
•$712 80
•$678 80
IMPERIAL, Imperial County, Cal.-Bonds Offered by Bankers.-J.
Nat. Bank, Cleveland
First
taxgree
678 00
644 22
Adams do Co. of Los Angeles are offering to investors $7,000 6% at the Tillotson & Wolcott Co., Cleveland
dc S.
1,320 00
Breed & Harrison, Cincinnati
sewer bonds. Denom. $500. Date March 1 1912. Int. M.
670 00
640 00
Hayden, Miller & Co., Cleveland
City Treas. office. Due $1,000 yearly March 1 1933 to 1939 incl.
667 00
635 00
Seasongood & Mayer, Cincinnati
INDEPENDENCE, Montgomery County, Kan.-Bond Election.-The
of an Mansfield Say. Bank, Mansfield
852 50
624 50
question of Issuing from $40,000 to $50,000 bonds for the construction
be Otis & Hough, Cleveland
653 00
620 00
interurban railway between this city and Neodesha, will, it is stated,
87
641
611
70
Cincinnati
Walter,
do
Deppe
Mayer,
submitted to the voters.
652 50
Mont- Security Savings Bank & Trust Co., Toledo
INDEPENDENCE SCHOOL DISTRICT (P. 0. Independence),
opporan
gomery County, Kan.-Bond Election.-The voters will be given
•• Successful bids. Interest April and October.
building and
tunity on June 18 to decide whether or not $75,000 site,
LANSDOWNE. Delaware County, Pa.-Bond Offering.-Proposals will
'equipment bonds shall be issued.
be received until 8 p. m. June 20 by J. W. Davis, Sec., for not more than
INDIANA.-Bonds Offered by Bankers.-J.F. Wild & Co. of Indianapolis
4% 2-30-year (opt.) tax-free coupon bonds. Auth. tote of
$75,000
to
offer
in their circular dated May 8 1912 describing bonds which they
not 260 to 61 at elec. held May 25. Denom. to suit purchaser. Interest
4nyestors. Inolude the following issues, the sale of which we havve
semi-annual. Certified check for $500 is required.
previously reported;
LAPWA I SCHOOL DISTRICT (P.O. Lapwai). Nez Perce County. Idaho.
DRAINAGE BONDS.
proJasper County-$13,000 5% bonds. Denom. $1,000. Date July 1 1912. -Bonds Voted.-An election held recently resulted in favor of the
.1 "Int. J. & J. at County Treas. office, Rensselaer. Due $1,000 July 1 1915 position to issue $30,000,bonds.'it.is stated
•and $2,000 yrly. July 1 1916 to 1921 incl.
LEWISTON INDEPENDENT SCHOOL DISTRICT •(P. 0. Lewiston).
Nez Perce County, Idaho.-Bond Sale.-On May 22 the $8.000 10-20-yr.
FUNDING BONDS.
Date April 15 (opt.) bldg. bonds (V. 94, p. 1266) were awarded to the Idaho Trust Co,
French Lick-$2,000 5% tax-free bonds. Denom.$500.
opt.
1922,
15
April
Due
at 102.0625 for 55. Other bids follow:
1912. Int. A. & 0. at French Lick State Bank.
$739,286.
Wells & Dickey Co., M'plis$8,111 00 Bolger, Mosser & Willaman,
,after April 15 1917. Total debt $14,340. Assessed val.
$8,080
Chic
P. O'Brien & Co., Boston•8,100 00
J.
GRAVEL ROAD BONDS.
E. H. Rollins & Sons, Deny. 8,093 60 H. C. Speer & Sons Co., Chia_ 8,060
bonds;
Township
Adams
$4,680
and
434%
-53.020
County
Hamilton
8,041
00 C. H. Coffin Chic,
8,087
Chic
Co.,
&
Ulen
bonds;
Township
Clay
434%
$5,520
and
•denom. $151 and $234. $7,820
Wm.E.Sweet & Co., Denver.. 7,925
bonds; denom.
denom. $391 and $276. $3,080 434% Jackson Township bonds;
$1,000. Date July 1 1912. Int. J. & J. Due July 11932,
Denom.
denom.
Township
River
White
434%
$2,740
and
$154. $3.580
•
N. at County opt. after 10 yrs.
$170 and $137. Date of all issues May 16 1912. Int. M. &
LIMA CITY SCHOOL DISTRICT (P. 0. Lima), Allen County, Ohio.
Treasurer's office, Noblesvilie. Due one bond of each issue every six
1
C.
by
July
12
J.
m.
until
incl.
be
1922
received
will
15
Bond Offering.-Proposals
months from May 15 1913 to Nov.
and
Pulaski County-$2.295 4 .670 township line (between Monroe & N. Peace, Clerk Bd of Ed. for the $75,000 5% high-school-bldg. bonds voted
May 21 (V.94, p. 1522). Denom. $1,000. Date July 1 1912. Int. J. do J.
Harrison Twps.) bonds. Denom.$135. Date March 5 1912. Int. M.
15
May
from
at Treas. office. Due $2,000 Jan. 1 and $1,000 July'1 each year from
"at Co. Treas.. office In Winamac. Due $135 each six months
1913 to 1937 incl. Cert. check for $1.000, payable to the Bd. of Ed..
1913 to Nov. 15 1921 incl.
required. Bonds to be delivered within 30 days from time of award.
SCHOOL HOUSE BONDS.
Denom.
bonds.
tax-free
%
4
County-$23,200
, DISTRICT. Adams County, Wash.-Bonds Voted.-An
LIND SCHOOL.
Randolph
Wayne Twp.,
City. election held recently resulted in favor of the proposition to Issue $20,000
3800. Date May 15 1912. Int. J. & J. at Atlas State Bank, Union
Due $800 each six months from July 1 1913 to July 1 1927 incl. Total debt bonds. According to reports the vote was 136 to 48.
-$23,700. Assessed val. $1,790,820.
McCULLOCH COUNTY COMMON SCHOOL DISTRICTS, Tex.-Bond
434% tax-free bonds.
White River Twp., Randolph County-$13,025
$500 5% 20-year bonds of Sch. Dist. No. 42, registered on
J. & J. at Randolph Co. Sale.-The
at par and int. Denom. $100. Date
Denom. $500 and $435. Date May 1 1912. Int.
July 1 Feb. 26 (V.94, p. 721) have been sold
to
1913
1
July
from
months
six
each
part
Due
Winchester.
Bank,
10 1911. Interest annually In April.
July
val.$3,042,130.
Assessed
1927 incl. Total bonded debt $49,025.
Description of Bonds.-The $2,100 5% 20-year Soh. Dist. No. 15; 57,000
-Band 5% 20-40-year (opt.) Sch. Dist. No. 18, and $4,800 5% 20-40-year (opt.)
IONIA SCHOOL DISTRICT (P. 0. Ionia), Ionia County, Mich.
deficiency bonds were awarded to the Union Sch. Dist. No. 36 bonds, registered on Mch. 6 (V. 94. p. 781) are in the
Sale.-On May 31 $9.000 4
Denom.
bonds.
blank
and
int.
10
(100.59),
$9,053
for
denomination of $100 each and dated July 10 1911. Interest in April.
Detroit
Trust Co. in
21,000. Date July 1 1912. Int. J. & J. Due 41,000 July 1 1913 and
MADISON COUNTY (P.0. Jackson), Tenn.-Bond Offering.-Proposals
$2,000 yearly July 1 1914 to 1917, inclusive.
will be received until 12 m. July 3 by Thos. McCorry, County Judge, for
JACKSON COUNTY (P. 0. Brownstown), Ind.-Bond Offering.-Pro- 5125,000 4 yi% school tax-free bonds. Denom. $500. Date July 1 1912.
posals will be received until June 14, it is stated, by Henry Price, County Interest J. & J. Due July 1 1937.
'Treasurer, for $20,248 28 5% coup. drainage bonds. Denom. $1,000,
MAPLETON SCHOOL DISTRICT. Ohio.-Bond Offering.-Proposals
except one bond of $1,248 28. Int. J. & D.
will be received until 2 p. m. June 29 by W. H.Snyder, Clerk (P. 0. Osnaburg). for $5.000 4% bonds. Authority vote of 27 to 23 at an election held
JEFFERSON COUNTY (P. 0. Steubenville), Ohlo.-Bond Sale.-On
Juno 4 the $20,000 434% turnpike bonds (V.94, p. 1522) were awarded to May 21. Due $500 yearly.
Other bids follow:
the First Nat. Bank of Smithfield at 103.125. Rorick
MASON SCHOOL DISTRICT (P. 0. Mason), Warren County, Ohio.
& Co., Tol__$20,027 Bond
Nat. Exch. Bk., Steubenville $20.1151Snitzer, Cleveland.
Sale.-The $3,000 4 34% tax-free impt. bonds offered on June 3
A bid was also received from Otis & Hough of
(V. 94, p. 1523) were awarded to J. Lee Thompson for $3,185 50 (106.183)
JEFFERSON COUNTY (P. 0. Beaumont). Texas.-Bonds Authorized.- and accrued interest. Due $750 March 1 and Sept. 1 in 1930 and 1931.
This county, it is reported, has authorized the issuance of $100,000 drain- Bids were also received from Well, Roth & Co. Seasongood & Mayer and the
Cumminsville German Bank, all of Cincinnati.
age bonds.
MATAMORAS, Washington County, Ohio.-Bond Sale.-On May 6 the
JOHNSTOWN. Weld County, Colo.-Bond Election.-The $20,000 watersystem bonds (V. 94, p. 1133) will be presented to the voters, it is stated, $2,175 4% Main St. paving (village's portion) bonds (V.94, p. 1266) were
awarded to J. Machetnaz of New Matamoros.
on June 10.
MEDFOR D. Mass.:-Temporary Loan.-On June 5 a loan of $50,000 due
JOHNSTOWN, Licking County, Ohio.-Bond Offering.-Proposals will
ix received until 12 m. June 15 by Gid Rowe, VIII. Clerk, for $16,943 96 Feb. 18 1913 was negotiated with Curtis & Sanger of Bost. at 3.80% (Mel.
follows:
as
1912
1
July
dated
bonds
street-impt.
5%
MEIGS TOWNSHIP SCHOOL DISTRICT (P. 0. Peebles), Adams
and Pratt Ave. (village's porresulted in favor
:56,320 35 Coshocton, Oregon and Park Sts.
35. Due $920 35 County, Ohio.-Bonds Voted -An election held May 28bonds.
tion) bonds. Denom. (9) $600 and (1) $920
The vote
of the proposition to issue $1,000 5% school-building
Incl.
1922
to
1914
1
July
$500
and
July 1 1913
was 56 to 11. Denom. $200. Int. semi-ann. Due $200 yearly Sept. 1
and
$520
Date
$500
66.
Denom.
1,020 66 Oregon St. assessment bonds.
1913
to
1017,
inclusive.
July 1 1912. Due $500 July 11013 and $520 66 July 11914.
MERCER COUNTY (P. 0. Celina), Ohio.-Bond Sale.-On May 24 the
4,844 02 Cochooton St. assessment bonds. Denom. (9) $500 and (1) 510,000
4 yi% coup. Oak Grove free turnpike bonds (V. 94, p. 1340) were
$344 02. Due one bond yearly on July 1 1913 to 1922 incl.
to Well, Roth d: Co. of Cincinnati at 102.25 and Interest.
awarded
Due
$500
and
$503
04.
Denom.
bonds.
St.
assessment
Park
04
1,003
11916.
July
$500 July 1 1915 and $503 04
MERRILL, Lincoln County, Wis.-Bonds Voted.-An election held
$500 and (1) $25589 May 25 resulted In favor of the proposition to issue $2,700 5% 2-year road
'3,75580 Pratt Ave. assessment bonds. Denom. (7)
Due $500 yearly July 1 1915 to 1921 incl. and $255 89 July 11922. and bridge bonds. The vote was 74 to 20.
payable to the
Auth. See. 3918 to 3920 inc.. Gen. Code. Cert. check
MIDDLETOWN. Middlesex County, Conn.-Tenvorary Loan.-On
to be delivered within
Treasurer for 10% of bonds bid for, required. Bonds
June 3 a loan of $50,000, due Dec. 4 1912 (V. 94, p. 1523), was negotiated
accrued
pay
interest.
to
Purchaser
10 daysfm time of award.
with Loring, Tolman & Tupper of Boston at 3.79% discount.
JOHNSTOWN, Cambria County. Pa.-Bonds Proposed.-A proposition
MILLIKEN. Weld County, Colo.-Description of Bonds.-The $15,000
to issue $30,000 street bonds Is under consideration by this city, according water-works bonds voted April 2 (V. 94, p. 1076) bear Interest at 6% and
to reports.
are payable in 20 years.
JOHNSTON TOWNSHIP SCHOOL DISTRICT (P. 0. Johnston), TrumMILTON SCHOOL DISTRICT, Ore.-Bonds Defeated.-The election
bull County, Ohio.-Bond Offering.-Proposals will be received until 12 m. held May 29 resulted in the defeat of the question of issuing the $17,400
July 1 by W. II, Law, Clerk, for $2,500 5% school-house bldg. & impt. bonds (V. 94, p. 1462).
N.
bonds. Auth. Sec. 7626, Gen. Code. Denom. $250. Date July 1 1912.
MINNEAPOLIS. Minn.-Certificate Offerinp.-Further details are at
'Int. J. & J. Due $250 each six month from July 1 1913 to Jan. 1 1918,
77
5123.349
the
coupon
of
13
tax-free
June
on
the
offering
to
relative
hand
incl. Purchaser to pay accrued interest.
certificates of indebtedness at not exceeding 5% int. (V. 94, p. 1523).
JOHNSTOWN SCHOCM. DISTRICT (P. 0. Johnstown), Pa.-Bonds Proposals will be received until 2 p. m.on that day by J. A. Ridgway,Secy.,
Authorized.-The School Directors on May 28 adopted a resolution providing Bd. of Park Comm. Date July 11912. Int. ann. In July. Due one-fifteenth
for the issuance of $95,000 4 Yi% building and equipment bonds. Denom. yearly July 1 1913 to 1927 loci. Certificates are tax-free in Minn. Cert.
$1.000. Date June 1 1912. Int. J. & D. Due $27,000 in 1917, $33,000 check for 2% of certificates bid for, payable to C. A. Bloomquist,_City
'1922 and $35,000 in 1927.
• ... .... • •
Treasurer, is required.
KANSAS.-Bonds Purchased by State.-The following 5% school-house
COUNTY DRAINAGE DISTRICT NO. 9 (Grassy Lake
MISSISSIPPI
State
the
were
during
by
$33,200,
April
purchased
aggregating
bonds,
and Tyronza Drainage Districts). Ark.-Description of Bonds.-The
at par.
$1,250,000 534% (not $1,200,000 6%) gold drainage bonds awarded to the
Due.
Dale.
Amount.Place.
Wm.R. Compton Co. and Harris Trust & Say. Bank of Chicago on Feb. 14
1
1912
Jan.
1
73
Jan.
No.
D.
1913-1931
S.
County
$5,000_ _Brown
Apr. 15 1912 July 1 1913-1927 (V. 94, p. 579) are in the denoms. of $1,000, $500 and $100. Date May 1
22,500 Butler County S. D. No. 20_
72_Mch. 1 1912 Jan. 1 1914-1922 1912. Int. M. & N. at the Harris Trust & Say. Bank of Chicago. Due on
5,000._ Graham County S. D. No.67_
Mch. 1 1912 Jan. 1 1920-1923 Nov. 1 as follows: $39,000 in 1919, $41,000 In 1920, $43,000 in 1921,
700_ _Lincoln County S. D. No.
$46,000 in 1922, 548,000 in 1923, $51,000 in 1924, $54,000 in 1925, $57,000
The above bonds are subject to call at any interest-paying period.
in 1926, $60,000 in 1927. $63,000 In 1928, $67.000 in 1929, $70,000 In 1930.
-The issuance of $150,000 $74,000 in 1931, $78,000 in 1932, $82,000 in 1933, $87,000 In 1934. 192.000
KANSAS CITY. Kans.-Bonds Proposed.
in 1935, $97,000 in 1936 and $101,000 In 1937.
water-works and $50,000 fire-dept. bonds is being considered, it Is stated.
hW)NROEVILLE. Huron County, Ohio.-Bond Sale.-0a June 3 the
KANSAS CITY SCHOOL DISTRICT (P. 0. Kantas City). Mo.-Bonds
'Votod.-0101te election held June 1 resulted In favor of the proposition to three issues of 5% coupon pavement (village's portion) bonds, aggregating
1582
THE CHRONICLE
$3,175 (V. 94, p. 1400) were awarded to the Farmers' do Citizens' Banking
Co. in Monreoville at par and int. No other bids were received.
• MORGAN'COUNTY'(P. 0. McConnellsville), Ohio.-Bond Sale.-On
June 4 57,400 4% refund, bonds were awarded to the First Nat. Bank of
McConnellsville at 99.45. Denom.(14) 5500;(1) $400. Date June 1 1912.
ant. M. & S. Due 1916 to 1922 incl.
MORRIS COUNTY (P.O. Morristown) N.J.-Bond Offering.-Proposals
will be received until 11 a. m. June 17 by the Board of Chosen Freeholders
for $35,000 4;4% reg. Tuberculosis Hospital-erection bonds. Denom.
$1,000. Date July 1 1912. Int. J. & J. Bonds are tax-exempt in N. J.
Due 30 years, opt. after 10 years. Bonds will be delivered at 11 a. m.
July 1. Cert. check for $500, payable to J. F. McLean, County Collector,
is required. G. G. Runyon is County Attorney
The official notice of this bond offering will be found among the advertisements elsewhere in this Department.
MOSCOW, Latah County, Idaho.-Bond Election.-An election will be
held June 11 to vote on the question of issuing not exceeding $30,000 bonds,
reports state.
MOUNTAIN SCHOOL DISTRICT, Santa Cruz County, Cal.-Bonds Not
Sold.-No bids were received for the $3,000 bonds offered on May 6.
MT. MORRIS, Livingston County, N. Y.-Loan Voted.-A loan of $3,100
for an adaltion to the State road was authorized on June 3, it is stated, by
a vote of 67 to 8.
MT. VERNON, Franklin County, Tex.-Bonds Offered by Bankers.
Men & Co. of Chicago are offering to investors $12,000 5% water bonds.
Denom. $500. Date April 1 1912. Int. A. & 0. at Continental & Commercial National Bank, Chicago. Due April 1 1952, subject to call April 1
1932. Total debt, $17,000. Assessed valuation 1910, 5622,000.
I. MYRTLE CREEK, Douglas County, Ore.-Bond Sale.-Henry Pratt &
Co. of Tacoma has been awarded at par the $8,000 (the unsold portion of
$17,000) 6% 20-year gold coupon tax-free water and light bonds dated
Aug. 1 1911 (V. 93, p. 1739).
NACOGDOCHES COUNTY COMMON SCHOOL DISTRICT NO. 35, Tex.
-Bonds Registered.-On April 27 an Issue of 5900 5% 10-20-yr. (opt.) bonds
was registered by the State Comntroller.
InNEW HARTFORD, Oneida County, N. Y.-Bonds Authorized.-At a
meeting of the Town Board on June 3 a resolution was adopted, it Is stated,
authorizing the issuance of 544,000 Sewer Dist. No. 1 bonds. It is further
reported that they will be offered for sale about the middle of June. Denom.
41,000.. Due $2,000 yearly.
• NEWPORT BEACH SCHOOL DISTRICT (P.O. Newport Beach), Orange
County, Cal.-Description of Bonds.-The $27,000 5% bonds awarded to
the Wm. R.Stoats Co. of Los Angeles (V.94, p. 1340) are in the denom. of
$1,000 each and dated April 11012. Interest semi-annually at Santa Ana.
No.other debt. Assessed valuation $769,000.
PriNEWTON TOWNSHIP, No. Car.-Bond Sale.-On May 17 $25,000"5%
30-yr. road bonds were awarded to the Wachovla Bank & Trust Co. In
Winston-Salem at 100.20 and int. Denom. $1,000. Date June 1 1912.
Int. J. & D.
NEW YORK CITY.-Temporary Loans.-In addition to the $65,000,000
4 3 % 50-year gold registered or coupon corporate stock sold by this city
on May 7 (V. 94, p. 1340) the following revenue bonds, bills and corporate
stock notes (temporary securities) were issued during May:
Interest.
Amount.
Revenue bonds, current expenses
3 yi 510,000,000 00
Revenue bills, current expenses
x1,192,230 81
'3Ji
Revenue bills, current expenses
•3
x495,684 93
Revenue bonds, special
4
125,878 01
Revenue bonds, special
3
200,000 00
Corporate stock notes (various municipal purposes)
3
.3,850,000 00
3g
Corporate stock notes (for water)
2,000,000 00
3
Corporate stock notes (for water)
2,000,000 00
Total
$19,863,793 55
'Rate of discount; figures in "Amount" column represent proceeds of loan
after deducting discount. x Payable in .£ sterling.
• NEW YOR z4ATE.-Bond Sale.-Thursday (June 6) ma were opened
by the State Comptroller for the three classes of 4% gold bonds aggregating $25,950,000 described in V. 94, p. 1400. At the time of going to
press we had not been definitely advised as to the result of the sale. Newspaper dispatches state, however, that for the Class I bonds, consisting of
$12,000,000 canal and $8,000,000 highway due in 50 years, the offers aggregated 529,506,500. Of the $5,000,000 barge canal terminal 30-year bonds,
known as Class II, only $3,406,500 was subscribed for, and for the 5950,000
State reservation 1-10-year (serial) bonds (Class III) the bids totaled only
$640,000. It appears that the price realized for the bonds was slightly
above par. The following are reported as some of the successful bidders
for the bonds In Class I:
Amount.
Price.
Seasongood & Haas
51,200.000 100.094 to 100.407
100,000 100.7
G.S. Nichols & Co
Columbia National Bank, Buffalo
100,000 100.5
100,000 100.25
National Bank of Norwich
Colonial Assurance Co., New York
100,000 100.026
100,000 100.08 to 100.28
H.I. Nicholas & Co
100,000 100.19 to 100.59
J. S. Rippel, Newark, N..1
500,000 100.195 to 100.411
0. C. Harrison Jr. & Co
250,000 100.351 to 100.476
Mutual Alliance Trust Co., New York
Hamilton Trust Co., Brooklyn
210,000 100.125 to 100.25
125,000 100.21 to 100.61
Trans-Atlantic Trust Co., New York
100,000 100.06 to 100.56
11. & H. Clarkson
357,000 100.061 to 100.511
Mackay & Co
300,000 100 to 100.025
Lincoln National Bank, Rochester
500,000 100.08 to 100.051
Mutual Trust Co., Orange, N. J
100,000 100.31 to 100.61
Greenwich Bank, New York
300,000 100.13 to 100.03
Livingston do Co.
300,000 100.053 to 100.163
Sutro Bros. & Co
210,000 100.125 to 100.25
Hamilton Trust Co., New York
300,000 100.13 to 100.63
Livingston & Co
1,000,000 100.2 to 100.5
American Exch. National Bank, N. Y
Mechanics' & Farmers' Bank, Albany
174,000 100.3 to 100.512
People's Trust Co., Brooklyn
200,000 100.25 to 100.5
E. D. Levinson & Co
150,000 100.04 to 100.03
Nassau Trust Co., Brooklyn
100,000 100 to 100.2
Public Bank, New York
400,000 100 to 100.121
Estabrook & Co
213,000 100.31 to 100.45
200,000 100.13 to 100.26
Thomas Denny & Co
600,000 100.01 to 100.1
Lawyers' Title Ins. & Trust Co., N. Y
1,015,000 100.023 to 100.375
Rhoades & Co
100,000 100.185 to 100.265
George H. Burr & Co
Westchester County Nat. Bank, Peekskill__ 500,000 100.015 to 100.315
200,000 100 to 100.25
H. N. Whitney & Sons
100,000 100 to 100.20
Hess & Hess
100,000 100.081
Harris, Forbes & Co
300,000 100 to 100.26
Clark, Dodge & Co
1,250,000 100.13 to 100.41
Equitable Trust Co
200,000 100.13 to 100.26
Marine National Bank, Buffalo
Emigrant Industrial Savings Bank, N. Y__2,000,000 100.05 to 100.195
250,000 100.13
Newburger, Henderson & Loeb
300,000 100.65
Central National Bank, Buffalo
100,000 100.51 to 100.76
Cleveland Trust Co
300.000 100.112 to 100.482
Curtis & Sanger
500,000 100.062 to 100.122
C. J. Turner & Son
175,000 100.072 to 100.312
Werner Bros. & Goldschmidt
120,000 100.381
Stout & Co
N. W. Halsey & Co
500,000 100.1897
R. L. Day & Co
600,000 100.066 to 100.343
Harvey Fisk & Sons
2,000,000 100.07
500,000 100.06 to 100.26
New York Trust Co
500,000 100.082
Fisk & Robinson
Merchants' Union Trust Co
100,000 100.28 to 100.33
121,000 100.045
W. N. Coler & Co
500,000 100.28 to 100.38
Blake Bros. & Co
V.
County,
-Bond
Niagara
N.
Offering.-Proposals
NIAGARA FALLS.
Will be received until 3 p. m.June 21 by the Board of Estimate and Apportionment for $39,400 454% reg. Series "A" market bonds. Denom. (1)
VoL. Lxxxxiv.
$400 (39) 51,000. Int. J. & J. in N. Y. exchange. Due July 1 1932.
Cert. check for $1,000, payable to City Clerk, Thos. H. Hogan, required.
Bonds to be delivered within 3 weeks from time of award. Purchaser to
pay accrued interest. Bonded debt July 1 1912 52,833,719. Assessed
val. 1911 530,175,000.
NORTHERN COLORADO IRRIGATION DISTRICT (P. 0. Greeley),
Colo.-Band Election.-A proposition to issue $2,400,000 irrigation
system
bonds will be submitted to a vote, It is stated, on June 18,
NORTHWOOD, So. Dak.-Bonds Voted.-A proposition to issue 58,000
4% 15-yr. electric-light bonds carried by a vote of 77 to 25 on May 14,
ODEM SCHOOL DISTRICT, San Patricio County, Tex.-Bonds Voted.
At a recent election the proposition to issue 515,000 school-bldg. bonds
carried, reports state.
ODESSA TOWNSHIP, Kans.-Bond ElectIon.-An election is to be
held in this township, according to reports, to vote on the issuance of
$8,000 bonds.
OGDENSBURG. St. Lawrence County, N. Y.-Bond Sale.-On May 31
the $100,000 4 4% 1-20-year (serial) coupon tax-free street-improvement
bonds (V. 94, p. 1463) were awarded to local investors at 100.90.
OMAHA SCHOOL DISTRICT (P. 0. Omaha), Neb.-Bond Offering.
Proposals will be received until 3-p. m.June 17 by J. F. Burgess, Sec. Board
of Edue., for 5125,000 43.i% 20-year coupon bonds. Denom. $1,000.
Date July 11911. Int. J. & J. at the Nebraska fiscal agency in New York..
Certified or cashier's check on a national bank for 2% of bonds bid for,
payable to the School District, is required.
ONTARIO COUNTY (P.O. Canandaigua), N. Y.-Bond Sale.-The $15,000 4 yi% 1-5-year (serial) road-impt. bonds offered on May 15 (V. 94, p.
1342) were awarded to Adams & Co. of New York at 100.506.
Other bids follow:
W. N. Coler & Co., N. Y. •100.57 R. L. Day & Co.. N Y
Curtis & Sanger, N Y
100.175 C. E. Denison & Co., Cleve__ 100
0..0
04
56.
1
DouglasFenwick &Co.,N.Y 100.14 Harris, Forbes & Co., N. Y__ 100.02
• Bid said to have been irregular.
ORANGE COUNTY (P. 0. Hillsboro), No. Car.-Bond Sale.-On June 3
the $230,000 4 % 40-year coupon road-impt. bonds (V. 94, p. 1400) were
awarded to Woodin, MeNear & Moore of Chicago at par and int. Denom.
$1,000. Date July 1 1912. Int. J. & J. at the County Treasurer's office.
OROFINO. Clearwater County, Idaho.-Bond Sate.-On May 25 520,000.
6% 10-20-year (opt.) water bonds were awarded to the Spokane & Eastern
Trust Co. at 100.175. Denom. $1,000. Date July 11912, Int. J. dc J.
ORTLEY. Roberts County. So, Dak.-Bond Offering.-This town is
offering at private sale $3,000 5% 20-year bonds. Denom. $500. Interest
semi-annual. A. Auginbough is Town Clerk.
OVID, Seneca County, N. V,-Bond Sale.-We are advised that an issue
of $3,000 paving bonds has been disposed of locally.
PAINESVILLE SCHOOL DISTRICT (P. 0. Painesville), Lake County.
Ohio.-Bond Sale.-Otis & Hough of Cleveland have been awarded, It is
stated, an issue of $3,000 4 Yi% 4-year school bonds for 53,002-making
the price 100.066.
PALA SCHOOL DISTRICT, San Diego County. Cal.-Bonds Defeated.
On May 18 the voters of this district defeated the proposition to issue the
$12,000 bonds (V. 94, p. 1342) by a vote of 85 "for" to 73 "against"-a
two-thirds vote being necessary to carry.
PALO ALTO, Santa Clara County, Cal.-Itesult of Bond Election.-At
the election held in this city on May 20 the following 5% bond issuesweresuccessful. See V. 94, p. 1342.
$20,000 municipal light and water-plant bonds. Due 40 years.
12,500 for a 500 k.w. turbo-generator for the municipal power plant.
Due 15 yrs.
3,500 for the construction of a pressure oil-pipe line from the Southern
Pacific RR. to the power plant. Duo 15 yrs.
the
same day (May 20) the voters defeated the following propositions:
On
510,000 for an addition to library building.
3,000 to purchase a lot adjoining library building.
18,000 for a street-improvement plant to carry on paving at a reduced
cost.
PASADENA, Cal.-Water Bond Election.-An election will be held
June 27 to vote on the question of issuing $1,250,000 bonds for the purchase
of local water plants. The properties to be purchased and the appraised.
value of each Is given as follows: Pasadena Lake Vineyard Land & Water
Co., $621,622 31; Pasadena Land & Water Co., $335,312 75; North Pasadena Land & Water Co., 5194,217 83; total, $1,151,152 89.
PAULLINA SCHOOL DISTRICT (P. 0. Paullina), O'Brien CountY,
Iowa.-Bonds Defeated.-This district, according to reports, has defeated
the issuance of building bonds.
PELHAM UNION FREE SCHOOL DISTRICT NO. 1 (P. 0. Pelham),
Westchester County, N. Y.-Bond Sale.-On June 6 the $25,000 5-29-year
(serial) Series D reg, school bonds (V.94, p. 1463) were awarded to Adams &
Co. of N. Y. at 100.188 and int. for 4.30s. Other bids follow:
W. N. Coler & Co., N. Y
525,012 00 for 4.30s
Harris, Forbes & Co., N Y
25,105 50 for 4.35s
Douglas Fenwick & Co., N. Y
25,065 00 for 4.35s
Curtis & Sanger, N. Y
25,030 25 for 4.35s
Parson, Son & Co., N. Y
25,030 00 for 4.40s
First National Bank, Mt. Vernon
25,021 25 for 4.40s
PEMBINA COUNTY (P.O. Cavalier), No. Dak.-Bond Sale.-On May 21
the $85,000 court-house and $15,000 jail 4% 20-yr. construction bonds
(V. 94, p. 1266) were awarded to the State of North Dakota at par.
PENN VAN, Yates County, N. Y.-Bond Sale.-On June 3 the 560,000
reg. highway assess. bonds (V. 94, p. 1523) were awarded to Douglas Fenwick & Co. of N. Y. for $60,025 (100.041) for 4 3-5s. Denom. $1,000.
Date June 11912. Int. ann.In Oct. Due $3,000 yearly on Oct. 1. Other
bids follow:
c W. Sherrill, Poughkeepsie
100.13 for 4.45s.
Forbes & Co., New York
100.29 for 4.40s.
Union Trust Co., Rochester
lO
Bid
0.0 flor 4.5Os.
Citizens' Bank, Penn Yan
bonds at 4.50% and 25
for
bonds at 4.65%.
Bid for 4.90s.
Watkins State Bank, Watkins
PIGEON. Huron County, Mich.-Bonds Defeated.-The election held
recently resulted in defeat of the proposition to issue $8,000 electric-light
.
for"
Bon
tod6E
8i"
ecatigoanin
bonds. It is stated the vote was 53"
.stA
."
y(
rC
I ontigntoy,°Pa.
eg
,haecnco
wil
F
e -Bond
,ly
AI2I0
ChAelldRaNu
special election
papers, to give the voters an opporbe
tunity to pass on a proposition to issue bonds.
PLATTSBURU, Clinton County. N. Y.-Bond Sale.-7he Schenectady
Savings Bank of Schenectady was awarded 579,000 bonds as 4 me for
1s0
T0R
.610
kingthep
C2T
.
, mmEaR
47
u6m
$79
p,L
SCHOOL DISTRICT (P. 0. Plummer), Kootenai
County,
Idaho.-Bond Sale.-The 528,000 school bonds which this district has
been
offering for sale (V. 94, P. 1267) have been awarded, according to reports.
to Keeler Bros. of Denver for 529,100-making the price 103.928.
POINSETT COUNTY (P. 0. Harrisburg), Ark.-Bond Sale.-Papers
state that Drainage District No. 5 of this county has been successful in disposing of an issue of $205,000 bonds. They were awarded to the Merchants' & Planters' Bank & Trust Co. of Little Rock at par.
POPLAR BLUFF SCHOOL DISTRICT (P. 0. Poplar Bluff), Butler
County. Mo.-Bond Offering.-Further details are at hand relative to the
offering on June 18 of the 550,000 4
coupon high-school-building bonds
(V.94, p. 1524). Proposals for these bonds will be received by H. I. Ruth.
Pres. Board of Educ. Denom, $500. Date July 1 1912. Int. J. & J. at
National Bank of Commerce, St. Louis. Due July 1 1932, optional after
July 1 1922. Certified check for $1,000, payable to President, required.
PORTER COUNTY (P.O. Valparaiso). Ind.-Bond0tiering.-B. H. Urbahns, County Treasurer, will offer at public auction at 10 a. m. June 15
the following 5% coupon ditch bonds:
52,027 25 O'Connor ditch bonds. Denom. (1) $427 25, (4) $400. Date
Dec. 16 1911. Int. M. & N. Due 5427 25 Nov. 15 1912, 5400
yearly from Nov. 15 1913 to 1916 inclusive.
6,017 40 Koselke ditch bonds. Denom. 51,203 48. Date Nov. 15 1911.
Int. M. & N. Duo Nov. 15 1912 to 1916.
PORTLAND, Me.-Bond Sale.-On June 3 the $350.000 4% 20-yr. gold
coup,funding bonds (V.94, p. 1401) were awarded to the Fidelity Trust Co.
in Portland at 103.426, it is stated. Other bids, we are advised, were as
• • • .. . . . ,
follows:
Jura; S 1912.)
THE CHRONICLE
1583
(P. 0. Allentown). Lehigh
SOUTH ALLENTOWN SCHOOL DISTRICT be
Port.1 102.37
received until 8 P. m.
103.198 Maynard-S. Bird & Co.,
als will
Biodget & Co., Boston
County, Pa.-Bond Offering.-Propos
Chas. Gilman & Co., Portl'd_f
5-30-year (opt.) tax-free
4%
03.15
$20,000
for
Boston1
Sec.,
,
s,
&Weeks
Hillegas
F.
H.
by
wer
11
Hornblo
Boston_ _ _101.18 June
Co.,
&
ok
Estabro
check for 2% of bid is
Cert.
n.
102.79
bonds. Date June 1 1912. Int. semi-an
Perry, Coffin & Burr, Boston
Merrill, Oldham & Co., Bost_102.549
of $100,000, required.
loan
ry
tempora
a
ed
negotiat
l County, W. Va.SOUTH BENWOOD SCHOOL DISTRICT. Marshal
Pr.Temporary Loan.-This city has l Bank of Portland at 3.65% discount.
favor of the proposiBonds Voted.-An election held May 25 resulted in was
it is stated, with the Casco Nationa
698 to 245.
vote
The
bonds.
school-bldg.
Loan matures Oct. 1 1912.
25 the $20,000 tion to issue $80,000
d), Suffolk County.
III.-Bond Sale.-On May
OLD SCHOOL DISTRICT (P. 0. Southol
p. 1401) were
94,
r PRINCETON. Bureau County,
SOUTH
(V.
bonds
n
-erectio
awarded an issue
been
-hall
has
city
N. Y.-Bond Sale.-The Southold Savings Bank
5% 2-11-year (serial) coupon
Chicago at 103.2575 and int.-a basis of of
$15,000 bonds at 101.21. according to reports.
awarded to Farson, Son & Co. of
•
•
h.,
•
• • • •
-Bonds Proposed.
about 4.418%.
d.-This
SPARTANBUR G. Spartanburg County. So. Caro.
it is reported.
0. Pulaski), Va.-Bonds Propose
g to This city is considering the issuance of $190,000 street bonds,
accordin
li`PULASKI COUNTY (P.
bonds,
0.road
$100,00
of
Sale Not Oonsummated.sounty is considering the issuance
SPRINGFIELD. Sangamon County, 111.-Bond
bonds to R. C. 0.
reports.
The sale on April 29 of $39,000 registered "riot-claim"
Belmont County, Ohio.-Bond Sale.-On
was not consummated, local
1344)
p.
94,
HIP,
(V.
eld
TOWNS
of
Springfi
&
Co.
1287)
EY
p.
Matheny
94,
PULTN
(V.
•
'
(serial) road-impt. bonds
y H. T. Weber
-year
Attorne
by
10-19
invalid
held
5%
been
having
$25,000
Co. papers state, the bonds
May 29 the
to the Provident Savings Bank & Trust
of Chicago because of defects In the election notice.
were awarded, It is stated,
4.22%.
about
of
basis
on
a
County, III.Sangam
108.40186,
at
SPRINGFIELD SCHOOL DISTRICT NO. bldg. bonds (V.
-Bonds Voted.
94, p. 1463)
SCHOOL DISTRICT, Kern County, Cal.
May 27 the $150,000 4%
• RANDSBURG May
in favor of the proposition to issue $1,000 Bond Sale.-On
St. Louis at
of
resulted
Co.
25
Trust
le
Mercanti
the
held
to
is
it
stated,
,
were awarded
An election
bonds.
7% 4-year bonds.
0 100.215, accrued int. and blank
Pa.-Bond Sale.-On June 3 the $450,00
.-An election will be
READING, Berks County,
of
STAMFORD. Jones County, Texas.-Bond Election
r.
(V. 94, p. 1463) were awarded to Graham & Co.
on
proposition to issue $25,000 school bonds.
the
to
vote
stated,
is
it
held,
4% coupon bonds
J.
&
J.
3) and interest. Interest
Philadelphia for $450,105 (100.02
-Bond Offering.-Proposals
STEUBENVILLE, Jefferson County, Ohio.
City Auditor, for
ino County, Cal.-Bonds Voted.-At a recent will
PREDLANDS, San Bernard
be received until 12 m. June 28 by H. W. Patterson,
, it is stated, of the $600,000 bonds
issuance
the
ed
authoriz
(V. 94, p. 1208). Denom.
city
bonds
this
-house
market
election
$32,000 45% coup.
the
given
is
vote
The
1343.)
p.
94,
(V.
Sept. 1 1914
system
yrly.
orks
for a municipal water-w
$500. Date July 1 1912. Int. semi-ann. Due $4,000
to the City
as 2,016 to 436.
to 1921 incl. Cert, check for 3% of bonds bid for, payable
-Bonds
Tex.
22,
NO.
CT
required.
REEVES COUNTY COMMON SCHOOL DISTRI
5% 10-30-yr. (opt.) Treas.,
als
.
-Propos
Offering
-Bond
Iowa.
County,
Vista
Registered.-The State Comptroller registered $25,000
STORM LAKE, Buena
water-worksbonds on May 7.
received until June 28 for $15,000 15-20-year (opt.)
als will be will be n bonds auth. by a vote of 442 to 118 at an election held April 22.
.
-Propos
Offering
-Bond
Ind.
County,
Jasper
extensio
RENSSELAER.
of School Trustees for
Ohio.-Bond Offering.-Proposals will be
received until 1 P. m. to-day (June 8) by the Board ng to reports.
SUNBURY, Delaware County,
for $3.800 5% impt.
$26,000 5% 1-10-year (serial) building bonds, accordi
until 12 m. July 1 by M. Utley, VIII. Clerk,
received
m
3, Montcal County, bonds (village's portion). Auth. See. 3939, 3940 and 3941. Rev. Statutes.
RICHLAND TOWNSHIP SCHOOL DISTRICT NO.
15 by
& 0. at office of VIII. Treas.
June
in,
A.
p.
Int.
1
until
1912.
1
received
be
Apr.
will
als
.
Date
-Propos
Offering
$475
Denom.
Mich.-Bond
to the
for $6,500 bonds. -Auth. vote of Due from 3 to 10 yrs. Cert. check for 5% of bonds bid for, payabletime
of
0. Noble, Director (P. 0. Vestaburg), beginnin
within 10 days from
g 2 years from date.
Vill. Treas., required. Bonds to be delivered
electors May 18 1912. Due $500 yearly
int.
be
will
accrued
als
pay
to
-Bond Offering.-Propos
the award. Purch.
Ohio.
Union
County,
OOD.
RICHW
•
-Bond Offering.-The county
Viii. Clerk, for the
received until 12 m. June 17 by Paul B. Van Winkle,
SUSSEX COUNTY (P. 0. Newton), N. J.
4% coupon tax-free
will offer at public auction at 2 p. m. June 10 $17,600
following 4 g% bonds:
(V. 94, p. 1001). De- road-impt. bonds. Denom.(14) $1,000, (5) $500, (11) $100. Date Jan. 1
$9,000 coup. West Ottawa St. paving assess. bonds
$1,000
Due
1 1942.
0.
&
Jan.
Due
A.
Int.
Bank.
1912.
1
National
June
&
Sussex
at
J.
Date
J.
Int.
nom. $1,000.
1912.
Big Timber),
6 P.O(
yearly Apr. 1 1914 to 1922 incl.
SWEET GRASS COUNTY SCHOOL DISTRICT NO.
$500. Date Oct. 1 1912.
m. June 30 by
12
until
received
be
als
will
-Propos
16,000 Bomford St. paving bonds. Denom.
$2,000 in Mont.-Bond Offering.
1913,
in
$1,000
follows:
as
gold coupon
1
mpt
Apr.
$3,000 6% tax-exe
Int. A. & 0. Due on
in 1917, $2,000 in 1918, C. L. Shaw, Clerk of District, forDate
Sept. 1 1912. Int. payable in Big
1914, $1,000 in 1915, $2,000 in 1918, $1,000
•
building bonds. Denom. $1,000.
in 1922.
$2,000
required
and
1921
deposit
No
In
years.
10
$1,000
in
1920,
call
to
and
1919
.
Date Apr. 1 1912. Int. ann. Timber. Due 15 years, subject
I 7,000 fire-engine bonds. Denom. $500.
with bid.
passed
been
Due from 1 to 14 years.
have
s
dlnance
to the Village Treas., Is re-.
TOLEDO. Ohio.-Bonds Authorized.-Or
• Cert. check for 5% of bonds bid for, payable
g 5% coup. paving assess. bonds:
.
providing for the issuance of the followinDenom.
$455.
(9)
and
47
(1)
$446
quired. Purchaser to pay accrued interest
1
bonds.
No.
Ave.
4,541 47 Belmont
-Bond Sale.-On May 31 the $30,000
March 14 1913 and $455
Date Feb. 14 1912. Due $448 47 to
• RIDGWAY. Ouray County, Colo. 94, p. 1483) were awarded to Jas. N.
Sept. 1 1917 incl.
Sept. 14 1913
from
months
six
each
6% 10-15-yr. (opt.) water bonds (V.
Date June 11912.
and (9) $370.
od Ave. No.8 bonds. Denom.(1) $357 19
Wright & Co. of Denver at 91. Denom.$500.
- 3,687 19 Scottwo
Bonds.
19 March 1 1913 and $370 each
DISTRICT. Miss.-Description of
Date April 1 1912. Due $357 Sept.
incl.
ial
1917
• RIVERSIDE DRAINAGEbonds
1
Commerc
the
to
to
15
1913
1
May
on
Sept.
from
awarded
six months
(19) $470
The $397,500 6% drainage
(V.94, p. 1463) are in tho denom. 9,353 96 Clark St. No. 3 bonds. Denom. (1) $423 98 and $470
each
Savings Bank of Greenville at par and int.
3 1913 and
ann. In May. Due from 1 to 20
Date Dec. 3 1911. Due $423 96 March
of $500 each and dated May 1 1912. Int.
incl.
1922
3
Sept.
to
1913
3
six months from Sept.
• • •
$220.
(9)
years.
and
08
(1) $159
May 29
2,139 08 Viking St. No. 1 bonds. Denom.
-Bonds Voted.-The electioeheld
1913 and $220 each
p.
• ROBL,ON COUNTY. Tex.
Date Mch. 13 1912. Due $159 OS Mch. 131917
issuing $150,000 road bonds (V. 94, ir•I
incl.
resultedfin favor of the question of
from Sept. 13 1913 to Sept. 13
months
six
•
•
•
424
to
Toledo.
Bank,
Nat.
1206). The vote was 202
Second
n.
at
semi-an
Int.
e.-On
nburg), Va.-Bond"Sal
Harriso
0.
(P.
Texas.-Bond
4,
Y
NO.
COUNT
CT
bonds (V. 94, p.
• ROCI.iiThriAM
TOM GREEN COUNTY SCHOOL DISTRI
is
-10-year (opt.) dist. highway nburg
at 101.55. Election Proposed.-An election to vote on the issuance of $3,000 bonds
May 15 the $10,000 6% 3
People's Bank of Harriso
state.
reports
1343) were awarded to the
talked of,
annual.
Interest
•
1912.
15
May
Date
.-Proposals will
Denom. $100.
Offering.-Arrangements
TORRINGTON. Laramie County, Wyo.-BondgOffering
6% bonds:
Bergen County, N. J.-Bond $150,00
0 bonds.
,• RUTHERFORD. advertis
be received unitl 10 a. m.June 22 for the followin
e for sale an issue of
sewerage bonds. Authority vote of 53 to 52 at an
have been made to
(opt.)
.
10-20-yr
$10,000
in
nto), Cal.-Bonds Awarded
election held May 14.
SACRAMENTO COUNTY (P. 0. Sacrame
ty vote of 58 to 48
0 6% Reclamation District No.
20,000 15-30-yr. (opt.) water-works bonds. Authori
Part.-On May 27 $75,000 of the $125,00
of at par and Int.
disposed
were
p.
1401)
94,
(V.
at an election held May 14.
bonds
assess.
551
the Nat. Bank of
n.
at
semi-an
4%
Int.
$4,000
1912.
1
1
June
July
Date
-On
Sale.
Denom. $500.
of bonds bid for is required.
SAGINAW, Saginaw County, Mich.-Bond
the Sinking Fund at par. De- Commerce in N. Y. Cert. check for 2% been
any default in payment of
refunding sewer bonds were purchased by
never
has
1920.
there
1
that
June
states
Duo
circular
D.
&
J.
rsy or litigation pending afon- Official
nom. $1,000. Date June 1 1912. Int.
4% 1-10-yr. (ser.) coup. sewer-cand any obligation and that there is no controve
Bond Offering.-An issue of $55,000
boundaries of the municipality or the
fecting the corporate existence or the respecti
counter on July 1. Denom. $1,000
offices, or the validity of
ve
office.
str. bonds will be sold over the
Treas.
their
to
City
the
officials
at
present
or
In N. Y.
title of its
(equalized) 1912. $272,780.
$500. Date July 11012. Int. payable
•
these bonds. No other debt. Assess. val.
Bonds are tax-exempt in Michigan.
Clerk.
City
is
r
g
Brubake
providin
D.
C.
bill
a
Election.-Counell has passed
ST. LOUIS, Mo.-Bond
als will be received until
Aug. 5 of a proposition to issue not
TRENTON. N. J.-Bond Offering.-Propos
for the submission to the voters on
for $149,855 4 g% reg. street
municipal bridge.
2 p. m. June 12 by H. E. Evans, City Treas.,
exceeding $2,750,000 bonds for a
Denom. $100 or multiples thereof. Date
1136).
p.
Cal.
94,
(V.
County,
bonds
Fresno
paving
CT,
DISTRI
L
Due July 1 1922. Cert.
• SANOER UNION HIGH SCHOO
July 1 1912. Int. J. & J. at City Treas. office.
H. Rollins & Sons of San Fran. have,
to City Treasurer, required.
Bond Sale Not Consummated.-E.
gold bldg. bonds awarded to them on check on a national bank for $3,000, payable
it is stated declined the $60,000 5%
ngs.
proceedi
election
in
the
ities
irregular
-Bond BUN:Min.-A proposition
April 11(1/.94, p. 1206) because of
TUSCALOOSA.Tuscaloosa County, Ala.
Offering.-Proposals will be received to issue $35,000 school building bonds will be submitted to the voters. It
SCHENECTADY, N. V.-Bond
0
offered for sale on Dec. 5
4(%
*115,00
for
ler,
Comptrol
Is stated, on June 10. These are the same bonds
until 11 a. m. June 15 by J. L. Meyers,
lity the sale was invalidated
(V. 93, p. 1341). but owing to some technica
to
reg. bonds as follows:
1913
from
1
April
on
yrly.
.
$5,000
and the matter was deferred
$90,000 public-market bonds. Due
Ohio.-Bond Sale.-On
1930 inclusive.
yrly. on April 1 from 1913 to 1922 incl.
TYMOCHTEE TOWNSHIP, Wyandot County,
tion bonds (V. 94,
25,000 culvert bonds. Due $2,500
Treas.,
City
of
office
at
0.
&
A.
June 3 the $20,000 4 g% coupon turnpike construc
1 1912. Int.
& Trust Co. in Toledo
Bank
as
Savings
Denom.$2,500. Date April
Security
certified
the
awarded to
e. Bonds to be
were
exchang
1345)
p.
Y.
N.
In
holder
reg.
or at request of Columbia Trust Co., N. Y., and their legality examined at 102.6625, reports state.
following 5% bonds werepurto genuineness by
be furnished
UTAH.-Bonds Purchased by State.-The
& Reed of N. Y. whose opinion will compan
y for chased
by Caldwell, Masslich
State of Utah at par:
bank or trust
the
by
national
a
on
check
Cert.
r.
June 17
to the purchase
Bonds Purchased during February.
payable to City Treas., required. Delivery
Due.
Dale.
Purpose.
2% of bonds bid for,as
Amount. Place.
bonds can be completed.
Jan. 2 1912 Jan. 2 1932
or as soon thereafter
Garfield Co_School
le,
received
_Hillsda
be
$950_
will
als
.
-Propos
Offering
-Bond
_Jan. 2 1912 Jan. 2 1932
-works
__Water
Co_
Cache
25
,
SELMA, Dallas County, Ala.
March
_Mendon
voted
10,000_
$35,000 5% gold school bonds
Bonds -Purchased during April.
until 12 m. June 15 for the$100
and $500. Date July 1 1912. Due July 1
Mch. 1 1912 Mch. 1 1932
. Carmel, Kane CoSchool orks _April
petr
(V. 94, p. 1524). Denom.
:M
0.....
00
1 1912 April 1 1932
bonds bid for required. J. L. Clay is Mayor.
Water-w
:00
..Perry
1937. Cert. check for 5% of
$
10
.-An issue
Bankers
20 1912 April 23 1932
by
_April
Offered
-light
Electric
-Bands
Iowa.
Co
_Salem, Utah
6,000_
Co.
&
Ulen
SEYMOUR. Wayne County,
by
s
1912 Mch. 22 1932
22
_Mch.
investor
to
tch, GarneldCo_Water-works
g bonds is being offered
of $14,500 5% refundin
Int. A. & 0. at Conti- 10,500_ _Pangui
the $950 issue, are optional after
$500. Date April 1 1912.
The above bonds, with the exception of
Total
1
1932.
April
Due
of Chicago. Denom. National
.
Chicago
Bank,
nental & Commercial issue, $57,500. Assessed valuation, $1,103,631. 10 years.
Marysville), Ohio.-Bond Sale.-On May 25 the
debt, including this $1,500,0
UNION COUNTY (P.O.
00.
bonds (V. 94, p. 1345) were awarded to the ComEstimated real value,
Offering.-Proposals wi I $16,070 5% ditch-constr.
-Bond
°W.
Marysville for $16,231 50 (101.004) and hit,
in
for $1,000 5% mercial Savings Bank
Pr SHERWOOD, Defiance County„
C. W.Miller, Village Clerk,
follow:
be received until 12 m.June 15 by
Auth. Sec. 3939 & 3940, Revised Other bids
27iSeasongood & Mayer, Cin___$16,156
bonds.
.$16,224
nt
tCo.,Cle
equipme
n&Wolcot
-plant
electric-light
1 1912. Int. M. & S. Due $500. Tillotso Miller & Co., Cie. 18,191 00 Well, Roth :&.Co., Cincinnati 16,151
Statutes. Denom. $500. Date Mayfor
10% of bonds bid for, payable to Hayden.
Mch. 1 & Sept. 1 1915. Cert. check delivered and paid for within 10 days
County, Ohlo.-Bond Offering.-Pro.
UPPER SANDUSKY. Wyando8 June
the Treasurer, required. Bonds to bepay accrued interest. • •
21 by Geo. M. Fleck, Clerk, for
posais will be received until 12 m. bonds.
from time of award. Purchaser to
Auth. Sec. 3939, Gen. Code.
County. Cal.-Bond Sale.- $23,000 5% Wyandot Ave. impt.
DISTRICT, Sacramento school
A. & 0. Due $5.500 April 1
Int.
1
1912.
June
and
• SlEktcA SCHOOL 5
Date
bonds
impt.
-bldg.
$500.
Denom.
g% gold site-purchase
$3,500
and $5,500 Oct. 1 1922.
the
1922
1
20
April
$6,000
May
1921,
1
nto
for
$3,600 1921, $8,000 Oct.
On
were awarded to J. G. Martine of Sacrame
payable to Edwin Billhardt, Treas.,
(V. 94, p. 1402)
Cert. check for 10% of bonds bid dfor,
from time of/award,
days
10
within
(102.857) and Int. Other bids follow:
delivere
be
to
$3,500
nto
Bonds
Sacrame
required.
Co., S. F.$3,507 50IG:K. Rider,
• • • •
G. G.Blymyer &
,
'
officio County. Purchaser to pay accrued interest.
(P.0. Sinton).S...
1
CT
NO.
L
DISTRI
SCHOO
.-Bonds-Offered
ON
y,"N.*C
e
Count
l';SINT
VALLEYTOWN TOWNSHIP, Cheroke
Voted.-Thls district has voted to issue, it is stated, $44,000
6% road bonds is being offered to investors
Tex.-Bonds
bonds.
by Bankers.-An Issue of $15,000
1 1912, Int.
April
Date
$1,000.
Denom.
site and building
.
- by Ulen & Co. of Chicago
1 1942. Total
L TOWNSHIP. Warrick County. Ind.-Bond Sale.
rsKricromnSCHOO
Hanover National Bank, New York. Due April
Bat. real value,
00.
Nat. Bank of Tennyson was awarded for $13,420 50 (100.152) A. dc 0. at
$1,415,0
value,
Tennyso
Assessed
.
$50,000
The
bonded debt,
bonds offered April 1 (V. 94,1p. 782).0
000.
She $13,400 4 g%
.Tune-1 $3,000,
HIP, Mahoning t.ounty;Ohio.-Bond Sale.-On
City). Atlantic County. N. J.-Bids
VENTNOR CITY (P. 0. Atlantic
• SMITH TOWNS 1-25-yr. (ger.) coup, tax-free road-impt. bonds (V.94, p.
of $25,000 5% street-impt.
4j'%
$25,000
int.,
2
and
the
Refected.-All bids received on June 5 for .an issue
•A
First Nat. Bank of Cleve. at 103.315
the
to
awarded
rejected
1267) were
bonds offered on that day were
bids follow:
about 4.168%. Other
00
720
basis of
Cm
...$25,
&
Co.,
I
a
50
Well, Roth
-Bids Rejected.-All bids received
Miss.
Prov.Sav.Bk.&Tr.00.,Cin.$25,817
County,
Warren
URG,
VICKSB
00
Cleveland_ 25,803 00 Seasongood & Mayer, Cin_ 25,710
the $50,000 4;i% coupon high-school-building bonds offered
Otis & Hough,
50 Hayden, Miller & Co., Clev.25,562 50 on June 3 for
p. 1403) were rejected.
Mayer,DePpe&Walter,Cin. 25,772 00
Spitzer, Rorick de Co., Tol. 25,320 00 on that day (V.94,
5,761
Colum.2
Bk.,
Nat.
New First
1584
THE CHRONICLE
Lxxxxlv.
WARREN. Warren County, Pa.-Bond Sale.-On June
3 the $15,000
YORBA LINDA SCHOOL DISTRICT. Orange County,
4 A% 30-yr. tax-free paving bonds (V.94, p.
Cal.-Bond Sale.
1524) were awarded to Tillot- -J. H. Adams
& Co. of Los Angeles were awarded at 101.41
son do Wolcott Co.of Cleveland at 104.62 and
Int.-a basis of about 4.227%. 5% 4-13-yr. (ser.) bldg.
bonds voted April 20.(V. 94, p. 1345.)the $10,000
WASHINGTON, Wilkes County, Oa.-Bond Election.-Official
notice
has been given, it Is stated, that on Jane 28 a
YOUNGSTOWN. Ohio.-Bond Offering.-Proposals will
proposition to issue $30,000 until
be received
street, paving and sidewalk bonds will
2 p. m. June 24 by D. C. Jones, City Auditor, for
be voted upon.
the following 5%
bonds:
WASHINGTON TOWNSHIP SCHOOL. DISTRICT (P. 0. Dola),
County. Ohio.-Bond Sale.-On May 31 $4,000 4 A % school-bldg.Hardin $70,000 fire-dept.-equipt. bonds. Due $7,000 yrly. from Oct. 1 1913 to
bonds
1922 inclusive.
were awarded to the Home Say. & Loan Co. In
Kenton at 100.625. Other
11,635 Walnut St. paying bonds. Due $2,327 yrly.
bids follow:
from Oct. 1 191310
1917 incl.
Commercial Bank, Kenton__ _$4,0151First Nat. Bank, Dunkirk_
_ _ _$4,000
11,465 Garland Ave. paving bonds. Due $2,293 yrly.
Stacy & Braun, Toledo
from Oct. 1 1913
4,0091
to 1917 incl.
Denom.*500. Date June 1 1912. Due $500 each six months
from Apr.
18,555 Pearl St. paving bonds. Due $3,711 yrly.
1 1914 to Oct. 1 1917 inclusive.
from Oct. 1 1913 to
1917 inclusive.
WAXAHACHIE, Ellis County, Tex.-Bond Election.-This city on June
485 Mercer St. grading bonds. Due $97 yrly. from
11 will, acoording to reports, vote upon a proposition
Oct. 1 1913 to
to issue $25,000
1917 inclusive.
street-impt. bonds,
Each block of bonds to be bid for separately. Date July
11912. Interes
WAYCROSS. Ware County. Oa.-Bonds Proposed.-It is reported that semi-annually at office of City Treasurer. Cert. chook
for 2% of bonds bid
this city is contemplating issuing permanent improvement bonds
amounting for, payable to City Auditor, required. Bonds to be delivered not later
-to $100,000.
than July 1 1912.
WHITE COUNTY (P. 0. Monticello), Ind.-Bond Sale.-The $30,000
45-% coupon bridge-construction bonds offered on May 7 (V. 94, p.
935)
were awarded to J. P. Wild & Co. of Indianapolis at 101.85. Date
March 5
1912.
WHITESVILLE. Andrew County, Mo.-Bonds Voted.-According
ACTON,
Election.-A by-law will be submitted to a vote
to June 10, it Ont.-Loan
reports, $3,000 school-bldg. bonds have been voted.
is stated, to authorize a $5,000 school loan.
WHITMAN COUNTY SCHOOL DISTRICT NO. 82. Wash.-PricePa(d
ALEXANDER. Man.-Debenture Sate.-C. H. Burgess 63 Co. of Toronto
for Bonds.-We are advised that the price paid for the $20,000
5% 15-20- were awarded $8,000 4 A% and 5% 20-year debentures. according to reports.
year (opt.) funding bonds awarded on May 27 to Woodln, McNear
& Moore
ASSINIBOIA. Man.-Loan Election.-An election
of Chicago (V. 94. p. 1525) was 101.33.
be held to-day
(June 8) to vote on a by-law to authorize a loan of will
$100,000 for school
WILLOUGHBY TOWNSHIP (P.0. Willoughby), Lake County, Ohio.
- purposes, according to reports.
.Bond Offering.-Proposals will be received until 12 m. July 6 by C. C. Jenkins, Clerk, for $38,000 4 A % coup. highway-impt. bonds.
BATTLEFORD. Sask.-Loans Authorized.-Reports state that $100,000
Secs. electric-light
, power-plant, water-works and sewerage and $50,000 side3295, 3939, 3940, 3941 and 3942, Gen. Code. Denom. $500. Auth. "day
walk debentures have been authorized.
-of sale.". Int. A. & 0. at Willoughby Branch of Cleveland TrustDate
Co. Due
$1,500 each six months from Apr. 1 1913 to Oct. 1 1924 incl. and
BLYTH. Ont.-Loan F;lection.-AccordIng to reports, a loan of $5,000
$2,000
Apr. 1 1925. Cert. check on a Lake County bank other than
one for a fire-protection system will be voted upon at an election June 11.
making bid, for 10% of bonds bid for, payable to Treas., required. the
Bonds
BRANDON. Man.-Loans Authorized.-The proposition
;to be delivered within 10 days from time of award. Purchaser to
pay
arena and $100,000 railroad debentures carried, it Is stated.to issue $70,000
accrued Interest.
Debenture Election.-An election will be held Juno
reports state, to
authorize the issuance of $300,000 debentures for the 13,
WILLOW HIGH SCHOOL DISTRICT (P. 0. Willow), Glenn
municipal construeCal.-Bond Election.-The County Supervisors have decided to County,
call an lion and operation of the street railway system.
election probably during June, it is stated, for the purpose of obtaining
BRANTFORD. Ont.-Election on Purchase of Railway Bonds.-An
-thl opinion of the voters on a proposition to issue bonds.
election will be held June 24, it is stated, to vote on the
of purchasing
WYANDOTTE SCHOOL DISTRICT (P.O. Wyandotte), Wayne County, $125,000 bonds of the Lake Erie & Northern By., question
by which the city will
Mich.-Bonds Defeated.-The question of issuing $100,000 building bonds secure a new line to Port Dover and Galt.
failed to carry, reports state, at an el ction held May 6. The vote was 53 . Debenture Election Proposed.-An election will be
held shortly, it is
"
- for" to 276 "against."
stated, to vote on the question of issuing $115,000 hydro-el
ectric debentures.
YAKIMA COUNTY SCHOOL DISTRICT NO. 34, Wash.-Bond Offering.
COBOURG, Out
Election.
-An
election
will
be held June 10,
-Proposals will be received until 10 a. in. June 8 by Frank Bond, County reports state, to vote on the question of
issuing $7,000 sohool debentures.
Treas. (P. 0. North Yakima), for $3,000 coup. school-bldg. bonds at got
COLLINGW
Ont.-Bonus
OOD,
Election.
-On June 12 a vote will be
exceeding 6% Interest. Date "day of Issue." Interest annually at
the taken, it is stated, on the question of borrowing $40,000
Treasurer's office. Due 20 years, optional after one year.
as a bonus to the
Canadian Vending Machine Co., Ltd.
YANCEY. Medina County, Tex.-Bonds Voted.-At a recent election the
DEREHAM TOWNSHIP, Ont.-Debenture Sale.-It is stated that
-voters of this district authorized the issuance, according to reports,
of $10,- $1,903 5% 5-installment and $13,168 5% 10-installment debentures
-000 school-bldg. bonds.
were
awrded to the Dominion Securities Corporation, Ltd., of Toronto.
Canada, its Provinces and Municipalities.
NEW LOANS.
NEW LOANS.
NEW LOANS.
$112,000
$325,000
$35,000
COLUMBIA COUNTY, N. Y., CITY OF MINNEAPOLIS, Morris County, New Jersey,
Highway and Refunding Bonds
BONDS
BONDS
Sealed Proposals will be received by the Treasurer of Columbia County, at his office in Hudson,
New York. until JUNE 20TH. 1912, AT 10 A. M.,
for the purchase of Registered Bonds of the County
of Columbia amounting in the aggregate to
4112,000, viz.:
$56,000 Highway Bonds.
$56,000 Refunding Bonds.
•
All of said bonds will be of the denomination of
$1,000, will be dated as of June 1, 1912, and will
bear interest at the rate of 4 Yi% per annum, payable semi-annually on the first days of June and
December, and both principal and interest will be
payable at the office of the County Treasurer, in
Hudson, New York, In New York exchange.
Six bonds of each issue will be payable on June 1,
1925, and ten bonds of each issue will be payable
on June 1 In each of the years 1926 to 1930,
Inclusive.
Proposals will be received for the whole or
part of said bonds. All proposals must provide
for payment of accrued interest by the purchaser
from the date of said bonds to the date of dolivery of the bonds, and must be accompanied by
a certified check upon an incorporated bank or
trust company, payable to the order of E. Washburn Ssovill, County Treasurer of Columbia
County, for 2% of the amount of bonds bid for,
the amount of said check to be credited upon the
bid if accepted, and to be returned forthwith if
not accepted.
The Treasurer reserves the right to reject any
and all bids.
Said bond' are exempt from taxation in the
State of New York.
The validity of the bonds will be approved by
Messrs. Hawkins, Delatield & Longfellow, Attorneys, of New York City, whose opinion will be
furnished to the successful bidder.
• The bonds will be prepared and certified as to
genuineness by the Knickerbocker Trust Company. of New 'York City.
WASIIBURN SCOVILL,
County Treasurer.
• Dated, May 20th, 1912.
Sealed bids will be received by the Committee 011
Ways and Means of the City Council of Minneapolis. Minnesota,at the office of the undersigned,
THURSDAY, JUNE 20TH, 1912, at 2 o'clock
P. M., for the whole, or any part of $325,000
Permanent Improvement Revolving Fund
dated June 1st, 1912, payable June 1st,Bonds,
1942
bearing interest at the rate of Four (4%) Per Cent
per annum, payable semi-annually December
and June 1st, and no bid or proposal will1st,
be
entertained for a sum less than 95% of the par
value of said bonds, and accrued Interest on same
to date of delivery.
Tile above bonds are tax-exempt In the State
of Minnesota.
The right to reject any or all bids is hereby
reserved.
A certified check for Two (2%) Per Cent of the
par value of the bonds bid for, made to C. A.
13loomquist, City Treasurer, must accompany
each bid.
Circular containing full particulars will be
mailed upon application.
By order of the Committee on Ways and Means
at a meeting held May 23rd, 1912.
DAN C. BROWN,
City Comptroller.
Sealed bids or proposals will be received for
$35,000 of registered bonds of the Board of Chosen
Freeholders of the County of Morris at 11 o'clock
A. M. on MONDAY, JUNE 17TH, A. D. 1912,
at the rooms of said Board in the Court House
at Morristown, Morris County, New Jersey.
These bonds are issued under resolution of
March 13th, 1012, for the purposo of the erection
of a County Tuberculosis Hospital for said County
and the purchase of a site therefor (see Chapter 88,
Laws of 1910, New Jersey).
Bonds in denominations of $1.000 each, dated
July 1st, 1912, due thirty years from the date
thereof, redeemable at any time after the expiration of ten years from the date thereof, at
the option of said Board.
• Interest 4 A %, payable semi-annually (January 1st and July 1st).
Bonds will be delivered at the above-mentioned
place on July 1st, 1912, at 11 o'clock A. M., at
which time and place full payment of the purchase price will be required.
These bonds are exempt from taxation under
the laws of New Jersey.
• Certified check for $500, payable to the order
Of "Joseph F. McLean, County Collector." must
accompany each bid, to be forfeited to said Board
by successful bidder in case of his failure to accept
and pay for bonds as above provided.
Bids will be received at the hour named and
not before and not Mter.
The right to reject any or all bids is reserved.
SPECIAL COMMITTEE ON TUBERCULOSIS HOSPITAL,
By GEORGE ESTLER, Chairman.
For information, write CEO. G. RUNYON, Esq.,
County Attorney, 6 Washington Street,
Morristown, N. J.
HODENPYL, HARDY & CO.
14 Wall St., New York
Railroad, Street Ry., Gas ez Elec. Light
SECURITIES
MUNICIPAL AND RAILROAD
MUNICIPAL BONDS
BONDS
Yielding 3.85% to 5.00%
SEASONGOOD & MAYER
STACY & BRAUN
Ingalls Building
CINCINNATI
L/ST ON APPLICATION
Toledo, 0,
Cincinnati, 0.
Charles M. Smith & Co
F. WM. KRAFT
CORPORATION AND
MUNICIPAL BONDS
Specializing In Examination of
TIRST NATIONAL BANK BUILDING
CHICAGO
LAWYER.
Municipal and Corporation Bonds
1037-9 FIRST NATIONAL BANK BLDG..
CHICAGO, ILL.
Bolger, Momr & Willaman
MUNICIPAL BONDS
Legal for Savings Banks,
Postal Savings and Trust Funds.
SEND FOR LIST.
29 South La Salle St.,
CHICAGO
ESTABLISHED 1&85.
H. C. SPEER & SONS CO.
First Nat. Bank Bldg., Chicago
SCHOOL,
COUNTY AND MUNICIPAL BONDS
Ststherlin &
Company
MUNICIPAL BONDS
Commerce Building
KANSAS CITY
MISSOURI
FORT FRANCE, Ont.-Debenture Offering.-Proposals will be received
u ntl 7 p. m. June 17 by J. W. Walker, Town Clerk, for *10,000 side-walk,
$14,436 79 sewer and $40,000 school debentures.
27 reGULL LAKE, Sask.-Debentures Voted.-The election held Mayon and
suited in favor of the proposition to Issue the $5,000 fire-protecti
$5,000 sidewalk 5% 10-installment debentures (V. 94, p. 1464). The
vote was 33 to 3.
for a sewerage
KELOWNA, B. C.-Loan Authorized.-A loan of $35,000
system has been authorized, it is stated.
election held recently, it is
KENORA, Ont.-Debentures Voted.-An
fire-hall, $25,stated, resulted in favor of the proposition to issue $40,000and
parks.
000 power-house debentures and an issue for impt. of roads
NO. 51, Alta.-Debenture Sale.
LETHBRIDGE SCHOOL DISTRICT
p. 1208)
94,
(V.
-Installment
debentures
40
On May 4 the $140,000 4
Edmonton.
were awarded to the Alberta School Supply Co. in
Election Proposed.-An election
• MEDICINE HAT, Alberta.-Debenture question of issuing the following
will be held, it is stated, to vote on theas
a grant to agricultural society;
debentures: $15,000 fire-dept.; $10,000
light-system ext.
$75,000 for gas-system-ext., and $50,000
-At the election held May 31 to
Voted.
tures
Sask.-Deben
• MELFORT.
30-year water-works, sewerage and
vote on the issuance of $125,000 6%
all in favor of the proposition.
electric-light debentures, 89 votes were cast,
will be received
MELVILLE, Sask.-Debenture Offering.-Proposals
30-installment
until 12 m. June 17 by J. Crow, Sec.-Treas., for $43,300 5%
debentures.
received unbe
will
oposals
ure
Offerino.-Pr
Ont.-Debent
BAY,
NORTH
$80,000 5%
til June 15 by T. N. Colgan, Commissioner of Works, for the
30-installment street debentures voted May 6 (V. 94, p. 1405).
will
NORTH WINNIPEG, Man.-Loan Election Proposed.-This city
by-law
probably hold an election, it is stated, to submit to the rate-payers a
purposes.
providing for a loan of 150,000 for hospital
the Provincial
ONTARIO (Province of).-Loans.-Reports state that
a loan of
Treasurer, Hon. A. J. Matheson, announced on June 4 that par.
The
above
shade
a
at
London
in
sold
privately
been
had
.C200,000
-millionfive
the
on
outlay
money will be devoted, it is stated, to the initial
of the northern
dollar grant made at the last session for the development
subscriptions had
portion of Ontario. Mr. Matheson also announced that
in V.
been received for over $200,000 of the $2,000,000 4% loan described
94, p. 1209.
received
be
will
osals
ORMSTOWN. Que.-Debenture Offering.-Prop
5% 40-yr.
until 7 p. m. July 2 by J. G. Bryson, Sec.-Treas. for $52,000
water and sewer debentures. Int. semi-ann. in Montreal.
received
be
will
-Proposals
Offering.
POINT ()RAY, B. C.-Debenture
until 5 p. m. July 15 for the following 4% debentures:
SOUTH PARK COMMISSIONERS
4% SERIAL BONDS FOR SALE.
Sealed proposals will be received by
Park Commissioners, 57th
the South
and Cottage Grove Avenue,
Chicago, Illinois, until twelve o'clock
noon, JUNE 19TH, 1912, for the pur-
Street
chase of five hundred (500) $1,000 4%
Park Improvement Serial Bonds; and
one hundred twenty (120) $1,000 4%
$349,908 50 50-yr. road debentures, dated Aug. 1 lett.
501,259 80 50-yr. water-works debentures, dated Aug. 1 Ma.
50.125 00 50-yr. school debentures, dated Aug. 1 1911.
164,980 00 50-yr. road debentures, dated Feb. 1 1912.
257,933 33 50-yr. sewer debentures, dated Feb. 1 1912.
41,366 66 25-yr. sidewalk debentures, dated Feb. 1 1911.
Int.f semi-ann. In,Canada, N. Y. or London. • H. Floyd is Comptroller..
•nTMT ARTHUR;Ont.-Debentures.Authorized.-The Issuance of $1,400
street railway impt., $11,500 Fort William RR.impt., $15,000 eiectrio-light
and $19,00Cl public-market-site debs. has been authorized, according,tcr
**
reports. • • • • • • • • • • • • &14.3.;_‘.• 1..4.9d..
• RED DEER:Alta.-Debenture Election.-The question of Issuing $13,000
municipal building, $1,000 bridge, $5,000 land purchasing, $10,000 streetimpt. and $15,000 hospital debentures will be submitted to a vote June 11,
reports state. imam • • • • • • • • • • • • &.•*_•-•3 ***** ' • •'
; 1
Proposed.-The Issuance of a"410,000 hospital
RENFREW. On
loan is contemplated,'it is stated. • • • • • • • • • • • • • •
RIDGETOWN. Ont.-Loan Election.-On June 10 an election will be
held It is stated, to vote on the question of raising $10.500 for the purchase
of the local light plant. iv; • • • '''''
•
' • • • • • '''''
ROSETOWN, Sask.-Loan Election.-An election will be held June 11.
reports state, to vote on the issuance of $5,000 fire, $3,000 drain, *2,000
land purchase and $2,000 sidewalk loans.
SEAFORTH, Ont.-Loan Election Proposed.-The burgesses will shortly
vote on a by-law, it is reported, providing for a loan of $10,000 for a library.
"111ELBURNE. Ont.-Debenture Election.-The • proposition to issue
$10,000 bridge debentures will be voted upon June 14, reports state.
SOREL, Que.-Debenture Sate.-According to reports, this town has disposed of $210,000 5% 40-yr. debentures to St. Cyr. Gonthier.&. Frigon
.
.
. . .
• • • • • • . • ''''' . . .
of Montreal.
SUDBURY. Ont.-Loan Election Proposed.-Reports state that the ratebuild
to
payers will shortly vote on a by-law providing for a loan of $32.000
a public school.
THORNBURY. Ont.-Debentures Proposed.-ThIs town Is oonsidering
the issuance of $12,000 school-building debentures.
• TRAMPING LAKE, Rural Municipality No. 380, Sask.-Loan Authorized.-The issuance of $10,000 impt. debentures has been ant,horized. according to reports.
WATERLOO. Ont.-Debenture Sale.-Brent, Noxon & 0o. of Toronto
have been awarded, it is stated, $57,622 debentures.
WINDSOR. Ont.-Debentures Voted.-The election held May 30 resulted
in favor of the proposition to issue the $30,000 sidewalk and $1.700 public
lavatory 5% 10-instaliment coup. debentures (V. 94, p. 1465). The vote
was 262 to 37 and 200 to 97, respectively. Int. M. & N.at Treas. office. •
MISCELLANEOUS.
NEW LOANS.
$620,000
1585
THE CHRONICLE
JUNE 8 1912:,
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York. January 23d. 1912.
the following statement of its aliatrs on the
The Trustees, in conformity with the Charter of the Company, submit
31st of December, 1911.
The Company's business has been confined to marine and inland transportation insurance.
83.653,325 18
1911
Premiums on such risks from the 1st January, 1911, to the 31st December.
873.68037
Premiums on Policies not marked oft 1st January, 1911
----84.527,005 55
Total Premiums
$3.773,578 22
Premiums marked oft from January 1st, 1911, to December 31st, 1911
03
Interest on the investments of the Company received during the year-- _2333,897
39,628 24
Interest on Deposits in Banks and Trust Companies, etc.
153,167 66 526.692 93
Rent received less Taxes and Expenses
21,385,386 40
Losses paid during the year
2220,704 52
Less Salvages
425.855 80
34
205,151
Re-insurances
2959,530 60
$196,936 89
Returns of Premiums
advertiseExpenses, including officers' salaries and clerks' compensation, stationety,
570.472 18
A deposit, either in currency or cerments,etc
Park
South
to
the
tified check, payable
certificates of profits will be paid to the holders
A dividend of interest of Six per cent on the outstanding
and after Tuesday the sixth of February next.
Commissioners, must accompany each thereof, or their legal representatives, on
thebr
be redeemed and paid to the holders thereof, or
The outstanding certifichtes of the issue of 1906 will
Tuesday the sixth of February next, from which date all interest thereon
proposal as a guaranty of the good faith legal representatives, on and afterproduced
canceled.
and
payment
of
time
the
at
will cease. The certificates to be
of the Compc_ny for the year ending 31st
A dividend of Forty per cent Is declared on theinearned premiums
of the bidder, as follows:
dividend, for which, upon application, certificates will be
December, 1911, which are entitled to participate
next.
May
of
seventh
the
imTuesday
$500,000
after
the
issued on and
$15,000 on bids for'
0. STANTON FLOYD-JONES, Secretary.
By order of the Board,
provement bonds;
TRUSTEES.
CHARLES M. PRATE,
GRIGGS,
L.
HERBERT
$3,000 on bids for the $120,000 paving FRANCIS M. BACON,
DALLAS B. PRA1T.
CLEMENT A. GRISCOM,
JOHN N. BEACH,
GEORGE W. QUINTARD,
HARD,
W.
ANSON
bonds.
BLISS,
C.
ERNEST
ANTON A. RAVEN.
HUBBARD,
H.
THOMAS
VERNON H. BROWN,_
JOHN J. RIKER,
LEWIS CASS LEDYARD.
The South Park Commissioners re- WALDRON P. BROWN.
ROBINSON,
DOUGLAS
CHARLES D. LEVERICH,
CLAFLIN
JOHN
GUSTAV H. SCHWAB.
LEANDER N. LOVELL,
serve the right to reject any or all bids. GEORGE C. CLARK,
SLOANE,
WILLIAM
MACY,
H.
GEORGE
CLEVELAND H. DODGE.
LOUIS STERN,
CHARLES H. MARSHALL,
Full information may be obtained CORNELIUS ELDERT,
WILLIAM A. STREET
'NICHOLAS F. PALMER,
RICHARD 11, EWART,
GEORGE E. TURNURE,
PARISH,
HENRY
upon application to the undersigned.
FRANKLIN,
S.
PHILIP A.
ADOLF PAVENSTEDT,
A. A. RAVEN, President.
J. F. NEIL, Secretary.
CORNSLIUS ELDERT, Vice-President.
WALTER WOOD PARSONS, 2d Vice-President,
CHARLES E. FAY, 3d Vice-Prcsident.
JOHN H. JONES STEWART, 4th Vice-President.
Paving Serial Bonds.
BLODGET & CO.
BONDS
60 STATE STREET,BOSTON
80 PINE STREET, NEW YORK
STATE, OITY & RAILROAD BONDS
gut Gov,exiximent Aggoitixtan
P. 0. BOX 27, MAIN OFFICE.
WASHINGTON. D. C.
BALANCE SHEET.
LIABILITIES.
ASSETS.
Estimated Losses and Losses Unsettled
York
State
of
and
New
United States
$2,310,027 00
In process of Adjustment
$700,000 00
Bonds
753,427 33
Risks
Unterminated
Premiums on
New York City and New York Trust Co
1,777,900 00 Certificates of Profits and Interest Unand Bank Stocks
267.092 05
paid
00
2,742,162
of
Railroads
Bonds
Stocks and
109,742 16
220,020 00 Return Premiums Unpaid
Other Securities
57,512 16
Reserve for Taxes
Special Deposits in Banks and Trust
183,599 07
1,000,000 00 Re-insurance Premiums
Companies
Compenincluding
Settled,
not
Claims
William
Streets
and
Wall
Real Estate cor.
69,104 03
sation, etc
and Exchange Place, containing offices 4,299,426 04 Certificates of Profits Ordered Redeemed,
Real Estate on Staten Island (held under
22,471 29
Withheld for Unpaid Premiums
75,000 00
provisions of Chapter 481,Laws of 1887) 618.136
7,401,39000
00 Certificates of Profits Outstanding
Premium Notes
23
449,354
Bills Receivable
Cash in !rinds of European Bankers to
pay losses under policies payable in
203,603 36
foreign countries
930,321 99
Cash In Bank
'450,000 00
New York City Revenue Bonds
-----211,174,385 14
$13.465,923 62
82.291458 48
• •t
OFFICIAL OR GAN OF TR E ASSO CIA1
Thus leaving a balance of
241,878 80
1911, amounted to
AMERICAN GONERN4EN7 ACCOUNTANTS.Accrued Interest on Bonds on the 31st day of December.to
21,970 46
amounted
due on the 31st day of December, 1911,
authorized in New York, on the 31st day of December.
E OF INTEREST 7C Rents
1N2companies
in
accrued,
or
due
A IlIONIBLY IMAGA
Re-insurance
214,367 00
ElNANC1AL
OfFICERS
1911, amounted to
A(COINIING AND
83.098 43
December. 1911, amounted to
RAllMAY:Unexpired re-Insurance premiums on the 31st day of
OF 341 NIMAIMES,
has estimated the value of the Real Estate corner Wall and 450,573 96
\ D. 0')EIR 1 I B1.1C 1..EKVICE CORICRA.Note: The Drisurance Department
Exchange Place in excess of the Book Value given above, at
and
Streets
William
63,700 00
710INS.
of the Book Value. at
And the property at Staten Island in.excess
1911, ex--Stocks. Bonds and other Securities on the 31st day of December,
of
Value
Market
The
62
1,588,635
CER73F1EL
FADING
Al].1
'10 FE ICI NEON
eeeded the Company's valuation by
III ll(' Al(CINIANIS' 01F10ES. _
24.755.780 75
be
would
balance
the
valuations
On the basis of these increased
1586
THE CHRONICLE
[VOL.
Lxxxxiv.
grust Tonwantes.
'guffIntocs.
01111011 States mist Gompaiill ot low TOIL,
J. G. WHITE & CO.
Chartered 1853
45 and 47 WALL STREET
CAPITAL,
.
SURPLUS AND UNDIVIDED PROFITS
-
-
-
-
$2,000,000.00
13,877,034.29
-
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,
oorporations and Individuals.
Engineers, Contractors
43-49 Exchange Place, NEW YORK
Chicago, Ills.
San Francisco, Cal.
Investigations and Reports on Electric
Railway, Gas, Electric Light and Power
Properties. Ecc., for Financial Institutions and Investors.
EDWARD W. SHELDON, President.
Electric Railways, Electric Light and
WILLIAM M. KrNGSLEY, V.-Pres.
HENRY E. AHERN, Secretary,
WILFRED J. WORCESTER, Asst. Sec. CHARLES A. EDWARDS,2d Asst. Sec, Power Plants, Gas Plants, Financed,
Designed and Built.
William Rockefeller,
Alexander E. Orr,
William H. Macy Jr..
William D. Sloane,
Gustav H. Schwab,
Frank Lyman,
TRUSTEES.
JOHN A. STEWART, Chairman of the Board.
James Stillman,
Payne Whitney,
John Cis.flin,
Edward W. Sheldon,
John J. Phelps,
Chauncey Keep,
Lewis Cass Ledyard,
George L. Rives,
Lyman J. Gage,
Arthur C. James,
William M. Kingsley,
William Stewart Tod.
Ogden Mills,
Egerton L. Winthrop.
Cornelius N. Bliss Jr.
Largest Institution of its kind in New Jersey
FIDELITY TRUST COMPANY
Prudential Bldg., NEWARK, N. J.
London Correspondents:
J. G. WHITE & CO., Limited,
9 Cloak Lane. Cannon St., E. C.
s
.BARSTOW et, co.
Incorporated
CONSULTING and
CONSTRUCTION ENGINEERS
PUBLIC SERVICE PROPERTIES
FINANCED and MANAGED
50 Pine Street
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Title, Banking, Savings, Bond, Mortgage,
Trust and Safe Deposit Departments.
Correspondence Invited
New York
C. G. YOUNG
Engineering and Construction
Plans, Methods, Operation
Public Utilities and Industrials
Reports for Financing
14
WALL ST.,
NEW YORK
Established 1889.
A. L. REGISTER & CO.
ENGINEERS CONTRACTORS
Philadelphia
CHARTERED 1884
UNION TRUST COMPANY OF NEW YORK
MAIN OFFICE. 80 BROADWAY
Fifth Avenue Branch,
Plaza Branch,
425 Fifth Avenue. corner 38th St.
786 Fifth Avenue, corner 60th St.
Modern Safe Deposit Vaults at both Branches.
Capital $1,000,000
Surplus (earned) $7,900,000
ALLOWS INTEREST ONjDEPOSITS
Acts as Executor, Guardian, Trustee, Administrator and in all Fiduciary
Capacities on behalf of Individuals, Institutions or Corporations.
CAPITAL, $1,000,000
SURPLUS, $4,000,000
THE
Branch Office, 1416 Chestnut St.
EXECUTES TRUSTS OF EVERY DESCRIPTION.
Acts as Trustee for Corporation Mortgages, Registrar or Transfer Agent
Interest allowed on Individual and Reserve Accounts
Samuel Y. Heebner,
John Story Jenks,
Edmon d D. Scholey,
Samuel E. Carter
President.
Vice-Pres. pro-tern.
MINES MANAGEMENT CO.
CONSULTING MINING ENGINEERS
Managers of Mining Properties
60 BROADWAY.
NEW YORK.
28 and 29 St. Swithins Lane,
LONDON, E C.. ENGLAND.
Avenida 16 De Septiembre, Num. 48.
MEXICO, D. F.. MEXICO.
_
H. M. CHANCE & CO.
Mining Engineers and Geologists
COAL AND MINERAL PROPERTIES
Examined, Developed, Managed
Drexel Bldg..
PHILADELPHIA, PA.
A.ccountants.
PHILADELPHIA TRUST
SAFE DEPOSIT AND INSURANCE
COMPANY
Main Office, 416-17 Chestnut St.
pAtning gitginttvs.
Secretary
Treasurer.
Mellon National Bank
PITTSBURGH, PA.
Offers its unsurpassed facilities on
attractive terms to banks desiring
a Pittsburgh reserve agent.
RESOURCES OVER 49 MILLIONS
LYBRAND
ROSS BROS &
MONTGOMERY
Certified Public Accountants
(Pennsylvania)
NEW YORK, 55 Liberty St.
PHILADELPHIA, Morris Bldg.
PITTSBURGH, Union Bank Bldg.
CIIICAGO, First Nat. Bank Bldg.
SAN FRANCISCO, Kohl Bldg.
SEATTLE, Central Bldg.
LONDON, 58 Coleman St.
JAMES PARK & CO.
CERTIFIED PUBLIC ACCOUNTANTS
New York, Chicago, Cincinnati and
London, England.
AUDITORS FOR
FINANCIAL INSTITUTIONS, INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial statements.
Periodical Audits and Accounting
GEO. B. EDWARDS
Tribune Building, NEW YORK, N. Y.
Good Refereaces
Tel. 4218 Beekman.
Negotiations,Investigations,Settlements
Purchases of Property, Information
In New York City or anywhere.
@FedFRASER